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T he Investors
SU PPLEM EN T
------- OF T H E --------
C
ommercial
& P
inancial
Q hronicle.
[ Entered according to A ct of Con gress in tlie year 1899, by W il l ia m B. D a n a Co m pa n y , in the office of Librarian of Congress, Washington, D. C. ]
N E W Y O R K , J A N U A R Y 2 8 , 1899.
T he
Investors’
S upplem ent.
The I nvestors ’ S upplem en t , issued quarterly, is furnished without
and F in an cia l
C h r o n ic le .
T h e Qu otation S upplem en t , issued monthly, is also furnished
without extra charge to every subscriber of the C h ronicle .
T h e St r e e t R a il w a y Su pplem ent is likewise furnished without
extra charge to every subscriber o f the Ch ro n icle .
T h e St a t e an d C it y S u pplem ent , issued sem i-annually, is also
furnished without extra charge to every subscriber o f the Ch r o n ic l e .
Terms for the C h r o n ic le , including the four Supplements above
extra charge to every subscriber o f the Co m m ercial
named, are Ten Dollars per year within the United States and Twelve
Dollars (which includes postage) in Europe.
WILLIAM B. DANA COM PANY, PUBLISHERS,
P ine S t r e e t , C or . P earl S t r e e t , N ew Y ork .
DISCIPLINE WITHOUT SUSPENSION
The officers of organizations which, like the rail
roads,employ armies of men, are necessarily much con
cerned about matters of discipline. In all such
cases success is largely dependent on the faithful and
intelligent service given by their employes; but this
is pre eminently true of railroads. At the same time,
from the nature of their work railroad men, that is
those in the operating department and connected
with train service, cannot be under that direct and
constant supervision in the performance of their
duties which can be given to bodies of the employed
in shops and factories, where general oversight by a
responsible subordinate is a simple matter.
The advantage, therefore, which there is in personal
direction of work and men is largely lost in railroad
train service. Yet the proper discipline of such em
ployes is made peculiarly imperative by the fact that
the safety of passengers and of valuable railroad prop
erty and goods is in their care, while they are brought
more or less directly into relations with those using
the railroad’s facilities. Then, too, among trainmen
it is a necessity of the situation that individual dis
cretion and ingenuity should be afforded wide scope;
so altogether the rigid discipline of such forces of
employes is much more essential, as well as more
perplexing, than for those working at fixed tasks in
shops or buildings or in a definite place.
The control of men engaged in railroad train ser
vice is directly exercised through the division super
intendents. They have the power of selecting, dis
ciplining, suspending and discharging men in that
branch of service. That work takes up a very large
part of their time. Infractions of the rules which are
issued by each railroad to govern the movement of
trains over its lines are constant where hundreds, and
indeed thousands, of men are subjected to them.
Every mishap to a train or destruction of the prop
erty of the company or of shippers must be inquired
into and the men responsible held to accountability.
Dismissal from service comes promptly when the
offense warrants summary action, and suspension from
the active list, with loss of pay, for such varying peri
ods as in the judgment of the superintendent may
seem justified, is frequent.
The principle thus outlined has been the funda
mental one in railroad discipline for a good many
years, and it must be confessed that, on the whole, it
has been exercised in a way which has developed a
remarkably efficient body of men, who work under
trying conditions, often full of danger, and requiring
the faculty of prompt decision. But the personal
equation enters so largely into this system that its
results are widely dissimilar with different officers.
Two superintendents on the same road will look upon
an instance of blundering, negligence or disobedience
with varying severity.
Their power is autocratic,
held in check by no precedents, and subject only to
the sense of right and justice. But there is injustice
in one man being fined, say, two months’ pay for an
act which under another superior would receive only
half that punishment. A loss of pay is easily im
posed, but it seriously inconveniences the man’s
family and those who could have had no share in his
wrong-doing. He himself is apt to look upon his
punishment and loss of wages as squaring him with
the company for the damage that may have resulted
from his act. Besides all this the company loses for
the term of suspension a skilled employe, trained for
his particular work.
. A system of discipline dispensing entirely with the
idea of punishment, has found much favor among
railroad men in the last few years. This is known as
the Brown system, or as a system of discipline by
record or without suspension, which are its leading
features. Disobedience of rules, or any offense which
requires investigation by an employe’ s superior, does
not result in a suspension from duty and pay. A
record is kept with each employe, and such sentences
are merely entered against his record from time to
time while he continues at work.
Acts that are
specially; creditable to him and taken notice of by his
superior are likewise recorded in his favor. This is
4
INVESTORS’
SUPPLEMENT.
an essential idea in the plan, which is intended to
encourage employes as well as to warn, by keeping a
sentence suspended. A certain number of credits, as
may be decided upon when the plan is put in opera
tion, quashes or eliminates a similar number of
demerits. Thus a clean record of six months or a
year may wipe out a recorded suspension of a month
or three months, as may be agreed upon.
A superintendent, therefore, who has charge of
train service— for the system is peculiarly applicable
to that branch and. has seen the widest develop
ment there— has before him for ready reference at
any time the record made by each employe under
him. The men also know what their records are,
for at stated intervals a copy is forwarded to each
of them.
Inefficient or unreliable men prove their
incompetence by the recorded charges against them
and are gotten rid of.
A capable employe, work
ing with intelligence and carefulness, is at times
liable to blunders as well as the less efficient;
if that happens his superiors would be more inclined
to overlook his fault than if committed by a persist
ently careless man. Under the Brown system, too,
there can be no charge of favoritism, for the reasons
for the discrimination are made clearly apparent.
Altogether the system secures a higher state of ef
ficiency, and proves to the employes that the company
aims to treat them impartially and fairly, and appre
ciates good service. It saves, as stated, loss of wages to
the employe, prevents the demoralization often result
ing from enforced idleness, and the idea that a sus.
pension has paid the company for the loss and trouble
incurred by a blunder. It likewise secures a better
feeling among employes, encouraging and stimulating
the most efficient, while weeding out in a perfectly fair
and just manner, and without friction, those unfit for
the service.
[V
ol
.
L x v n i.
the under side to hold them to the tie. A good deal
of controversy as to the relative -merits of the dif
ferent designs centres around the question as to the
effect on the grain of the wood of a longitudinal or
transverse flange or lip. Some tie plates have small
shoulder pieces on the top side against which the rail
presses, this being thought to be of some help in hold
ing tie plate and rail together in firm position.
The tie plate question was long ago, as already
stated, settled in favor of their liberal use, not only
on curves but on straight sections of roadway; all
that is left unsettled is the particular form which may
be most advantageous, a matter on which there may
always be a difference of opinion. Experience seems
to suggest that a tie plate must be of a form to be
come part of the tie; if made too wide it is apt to cut
the tie, the very thing it is intended to avoid;
while if sand is not excluded between the rail base
and the plate it acts as an abradant and eats away the
metal of both rail and plate. Some forms seem par
ticularly liable to buckle, that is, turn up at the
sides.
The effect of the application of the plates in length
ening the serviceable life of the tie naturally varies
with different kinds of wood used for ties, climate,
class of traffic, etc. In many cases they double its
life; officers have reported that yellow pine sleepers
with tie plates lasted two or three years longer in the
track than those without, while the life of cedar and
chestnut was extended three and five years. In brief,
it may be said that they make the serviceable life of
the tie practically its natural life. As a consequence
the labor cost of tie renewals is not infrequently re
duced above 50 per cent by the use of tie plates. A
specific instance of their economy may be brought
forward as somewhat typical. One road which formerly
regauged the tracks on curves and adzed the ties once a
year, at a cost of about two cents a tie, has not had to
regauge or re-adze these ties since tie plates were ap
TIE PLATES.
plied, four or five years ago. The ties on the sharper
Metal tie plates, which are used on railroad cross curves formerly lasted four to five years, but protected
ties to prevent or minimize the action of the rail in by tie plates they last eight or nine years, or the full
wearing out the timber, are now very common on the life of the ties.
railroads of this country. Their first extensive use
was in the early eighties on the Manhattan Elevated
LONG RAILS.
road in New Y ork City, where tie renewals are excep
tionally costly and inconvenient, so that any means
The rail lengths commonly used in railroad tracks
which would prolong the life of the ties and decrease are of 30 feet. In recent years a number of com
in any considerable amount the frequency of putting panies, among them some of the largest roads with
new ones in .the track would be welcome. The exper the heaviest traffic, have put down rails 60 feet in
ience of the Manhattan quickly proved the advantage length. There is not a little diversity of opinion
o f the metal tie plates, and they began to be intro among well-informed officers as to the desirability of
duced on steam railroads, especially on curves, which such a long length of rail, and though in use on some
need the most attention of any part o f the track, and roads three and four years, and even longer, they have
where the disturbance of the ballast and surfacing by not yet come into anything like such favor as was an
replacing worn-out ties is most troublesome. The ticipated by their advocates. On the other hand,
experience thus gained was satisfactory enough to however, we know of no company which has put down
warrant a considerably more extensive use of the tie 60-foot rails having them removed, while not a few
plates, and they are now put down on tangents quite companies are gradually extending their u se ; they
generally.
claim that there is a decided economy in maintenance
About half a dozen varieties of tie plates are on the and that they give a better riding track—two very
market, but they all consist essentially of a thin piece important advantages to recommend them.
of metal, which is imbedded in the surface of the tie
The primary object to be secured by making the
by lips or flanges on the under side, though also spiked rails twice as long as has been the rule is to do away
to the tie. The rail rests directly on the plate, which with as many rail joints as possible, and in this way
is wide enough to extend a little ways beyond the rail strengthen the track. The weakest points of the
base on either side. The different makes of tie plates roadway are at the joints, and obviously a good deal
vary somewhat in construction, weight and dimensions is gained if their number can be reduced one-half
and have either transverse or longitudinal flanges on without giving rise to other objectionable features.
J a n u a r y , 1899. J
INVESTORS’
SUPPLEMEN T.
si
"What is urged against the use of rails longer than 30 rail handling and laying in track being estimated at
feet comes properly under two heads, the first relating 25 per cent to 50 per cent, while there is a reduction
to faults of manufacture and the ¿econd to inconveni in the maintenance cost, with the better-riding qu»J{ence of handling by track forces. There seems to be ties secured.
no doubt that a good many of the first 45-foot and 60THE M. C. B. COUPLER.
foot rails made were poorly rolled; but this objection
has to do largely with the adaptation of the machinery
The adoption by the railroads of the vertical-plane
o f the rail mills to the new conditions called for by automatic coupler, commonly known as the M. 0. B
this new demand, and not to conditions which cannot coupler, dates back about 11 years. It was the out
be overcome. In fact, with greater familiarity in the come of a long and persistent agitation by ra iirw i
work such special imperfections as existed when the mechanical officers against the old type of coupler
first lot of long rails was rolled seem to have been then commonly in use, known as the link-and-pin
avoided by the rail mills since, or by some of them at type. The principal debating ground was in the con
any rate. The mo3t prominent fault met with was ventions of the Master Car Builders’ Association, and
that the rails were not as straight as the old 30-foot its action about 1887, in finally declaring for the
lengths, being curved or bent about the middle. This vertical-plane coupler, which couples automatically
is of considerable importance if not overcome, but by the impact of cars, ended the discussion.
experienced officers say that 60 foot rails as now
The Association has only recommendatory powers,
made are just as satisfactory In this respect as the but confirmation of its decision in conventions, by indiv
shorter lengths. In some mills some readjustment idual acceptance, usually follows. Roads representing
may have to be made to regularly roll the longer rolls a large majority of the mileage operated and equip
of rails ; but obviously such changes would be very ment owned are members of the Association ; hence
promptly made if the securing of fairly large orders it is that its decisions as to mechanical practice
depended upon such alteration.
formulate the generally accepted standards as to car
The point as to inconvenience of transporting equipment. The coupler question has been the most
and handling the rails, would likewise be a serious important thac it has had before it and its act in the
objection if it held. It can hardly be said that it adoption of the vertical-plane coupler, constructed on
does. A 30-foot rail is easily loaded on an ordinary totally different lines from the car coupling arrangflat car, transported without difficulty to wherever it ment then in practically uinversal use, was in the
is wanted, and carried from the car and placed in the nature of a revolutionary act. It was spe°dily fol
track by the ordinary work gangs. A 60-foot rail can lowed by a steady elimination of the old link-and-pin
not be hauled on one car, and when loaded on two cars type ; this process was likewise expedited by the action
there m aybe inconvenience on some roads in getting of Congress in passing a safety-appliance law, set
around curves, and a track gang cannot lift the rails ting a definite date (now passed) for the application
from the car as easily as it can a 30-foot length. of the new M. C. B. coupler as well as power brakes
These are difficulties, however, which readily yield to to railroad equipment, with discretionary power
ingenuity. In fact, some roads, by using the simplest (which it has been found necessary to exercise) to
mechanical aids, find that a less number of men is the Inter-State Commerce Commission to extend the
needed to handle the longer lengths of rail; they time limit. Congress was moved to its action be
figure out a saving of about 15 per cent in the cost cause the uniform use of these two appliances would
o f unloading and placing them in the track, as com promote the safety of employes engaged in train
pared with 30-foot lengths.
operation. The railroads hoped to secure in the new
Beyond these matters it has been claimed that the coupler more than a means of eliminating a consider
60-foot rails are subject to more creeping, and to able part of the danger to the life and limb of their
greater contraction and expansion, causing the ends employes in the coupling and uncoupling of cars;
o f the rails to be badly battered and flattened by the they also expected to gain a stronger and more
wheels passing over them. Just as good opinion and efficient coupler, which would do away with many of
experience to the opposite conclusion is adduced. the disadvantages of the link and pin, and further
Stop blocks remedy rail creeping, at trifling cost, more, and chiefly perhaps, they looked forward to
though it may be said that where this is marked with 60- securing a uniform type which would promote, oi
foot rails it would also be quite noticeable with 30-foot delay less the interchange of cars, by having aL
lengths. The question of contraction and expansion couplers couple with each other in service, and sim
at the joints is a matter of temperature and the track plify the repair of breakages by having few parts not
man’s skill. Some roads are not troubled with it at interchangeable. Uniformity in exterior contour lines
all. Considerable conflict of opinion exists as to was insisted upon for couplers to be regarded as
whether a 60-foot rail is or is not subject to twice the standard.
amount of expansion and contraction, through
Ten years of experience and development with the
changes in temperature, as a 30-foot rail; it is thought new couplers have hardly brought as favorable con
by some that the greater amount of metal absorbs in ditions in practice as were looked for. The progress
itself some of the expansion or contraction. Careful made in their use has been rapid, and the link and *
track work will do much to secure uniform expansion. pin, which even ten years ago had stout defenders,
The objections raised to long rails, it will be seen, as representing a more correct principle than the
are hardly supported by experience, and there is no vertical plane type, has pretty nearly disappeared
denying the fact that they secure a better riding from service. Though there are still a few doubters,
track. On roads of heavy traffic, where the condition its value as a safety appliance seems proven beyond
o f the roadway is looked after with scrupulous care, doubt.
But the very success of the coupler has re
this is an advantage which is decisive, and the use of sulted in many different styles being put on the mar
«60-foot rails on those roads may be expected to in ket, so that the question of uniformity, regarded as
crease. But there is also an economy, the saving in so important at the beginning, is in a nearly hope
INVESTORS’
6
SUPPLEMENT.
less stage. We believe that there are now nearly 80
different makes of M. 0 . B. couplers on the market,
all of which will pass the standard contour gauge,
but all, on the other hand, differ materially in
their construction, and particularly in the shape of
the knuckle or locking arm.
In fact there are
nearly 100 different styles of knuckles made, and
while many of them have only a limited use, they
add to the confusion in the matter of the desired uni
formity. Consequently a leading benefit which the
railroads hoped to gain by the substitution of the new
vertical-plane coupler has quite failed of realization.
This rapid multiplication of coupler designs is a
particularly serious inconvenience because, though
they pass the contour gauge, they will frequently fail
to couple with one another in service, or if they suc
ceed in locking are liable to uncouple with the move
ment of the train, often causing it to part, and doing
serious damage.
Practically no two makes of
knuckles, the most important part of the coupler,
and also most likely to breakages, interchange, so
that the greater the number of couplers in use, the
greater the supply of parts needed at interchange
points to repair damaged couplers and permit cars to
continue on their journey. There are nearly 30 different
makes of couplers in pretty general use, with 40 dif"
ferent designs of knuckles, and cars equipped with
any of these couplers are certain to be constantly met
with on the lines of important railroads. Each of,
such railroads, therefore, must be prepared to repair
or supply damaged parts of any of these couplers, and
the stock of material which will thus be accumulated
will be readily appreciated. A railroad officer, refer
ring recently to this development of the growing lack
of uniformity, pointed out that in order to have “ in
way cars or at interchange points knuckles (one of
each kind) averaging 48 pounds, it would require
4,464 pounds, which, at 3^ cents per pound, would
cost $156 24. To furnish one knuckle of each of the
above kinds, at sixteen different points and for twenty
way cars, it would require 160,704 pounds, represent
ing a value of $5,624 64.”
Just what the remedy is for this multiplication of
coupler designs and diversity of parts, aggravating
the non-interchangeability which the type was in
tended to overcome, it is difficult to say. Something
may be done in deciding upon specific dimensions of
certain interior parts as standard, just as the exterior
contour lines have been fixed; rigid test and inspec
tion for strength and quality of material may be more
carefully enforced and gradually the weaker and
poorer designs eliminated altogether. These sugges
tions, however, would operate slowly and at best not
go very far toward reducing the nearly ¿00 coupler
designs in use, which make uniformity apparently
impossible. The last resort, and probably the most
effective, will be in impressing upon railroad officers
the fundamental importance of limiting the number
of designs to secure uniformity and perfect inter
changeability in service.
HEAVY
LOGOMOI IVES.
The extent to which railroads have carried the
building of large sized engines of. enormous weight
and capacity for hauling loads is strikingly brought
out by a reference to four engines ordered by roads in
different sections of the country in the recent past.
Each of these engines is known as the largest in its
|V ol, LXVII1,
class, though how long that distinction may be
retained is questionable. At any rate, at the present,
time, the Northern Pacific has the largest 12-wheel
compound so far built, the Great Northern
the
heaviest
12-wheel
simple
expansion
en
gine, the Pennsylvania has built at its own
shops the heaviest consolidation engine of its particu
lar class, while the Union Railroad of Pittsburg owns
the largest in another classification or grouping. In
comparing these engines in size and weight, it should
be recalled that each is designed for a special
and limited work, and planned in all its parts to
exert the greatest power at the least cost, and under
the most advantageous conditions, in the perform
ance of its narrow work. The Pennsylvania consol
idation is in fact the only engine which can be
termed in any sense a road engine, or available for
general service; and its particular economy will be in
hauling trains made up of the 100,000 lb. steel cars
which the company is building. The Northern Pacific
engine is employed in helping service on a 116-foot
grade of 17 miles between Helena and Missoula,
Mont., while the Great Northern uses its locomotive
in helping trains over heavy mountain grades.
The heaviest of all the engines we have referred to
is that for the Union Railroad of Pittsburg, a freight
line- doing a large business over some bad grades.
The engine weighs 230,000 lbs., carrying a boiler 80
inches in diameter, with a heating surface of 3,322
square feet and a fire box 120 inches long and 40£ inches
wide. Not only in weight but in size of boiler and
extent of heating surface this engine excels all the
others. The Great Northern 12 wheeler comes second
in the point of size and capacity. It weighs 212,750
lbs., or about 8-£ tons less than that of the Union Rail
road. The diameter of its boiler is not quite so large
but the heating surface secured is approximately the
same, being 3,280 square feet. The fire-box dimen
sions are also very nearly similar, being 124 inches in
length and 40£ inches in width. The Northern Pacific
engine is the lightest of the four we have grouped
together for comparison, but its weight of 93 tons
requires pretty substantial track and bridges where
it is run. Its boiler diameter is also reduced, being 72
inches, as compared with the 78 inches and 80 inches in
the two engines previously named. This results in a
considerable reduction in the number of water tubes
and in the heating surface, which is figured at 2,913
square feet. It has, however, the widest firebox, 42
inches, with a length of 120 3-16 inches. The Penn
sylvania engine weighs 2L8,000 lbs. or 109 tons, and o c
cupies a place between the Northern Pacific and the
other engines named.
Its boiler diameter is 70^
inches, but it uses smaller tubes, and thus increases
the number in the boiler, so that the total heating sur
face is 2,997 square feet.
The fire-box length is
120 inches and width 40 inches, and the driving
wheel diameter is 56 inches, or nearly the same as for
the Great Northern and Northern Pacific engines,
which have 55 inches driving wheels.
These engines, varying in weight from about 93
tons to 115 tons, show in some degree the extent
to which mechanical officers have carried their
designs for locomotives of large capacity; the fa c t
j too that such enormous moving loads, concentrated
on the small wheel base afforded by locomotives, are
safely carried in ordinary service by the bridges and
track structure of the railroads, gives some idea of the
condition to which railroad track has been brought.
J
anuary,
INDEX
1899. |
IN D E X
TO
7
COMPANIES— CONSOLIDATED,
&c.
Companies not given in the S u p p l e m e n t tables in their alphabetical order may be found by reference to the Index below.
NAME.
WILL BE FOUND UNDER—
Akron & Chicago Junction...............Baltimore & Ohio.
Alabama Central.............................. Southern Railway Co.
Albemarle & Raleigh.........................Wilmington & Weldon.
American Dock & Improvement Co..Central of New Jersey.
American Telephone & Telegraph. .American Bell Telephone.
Ashtabula & Pittsburg..................... Pittsburg Youngstown & Ashtabula
Atchison & Nebraska.........................Chicago Burlington & Quincy.
Atlantic Mississippi & Ohio.............Norfolk & Western.
Atlantic & Northwest.........................Canadian
Pacific.
Baltimore Belt..................................Baltimore & Ohio.
Baltimore & Cumberland.................Western Maryland.
Baltimore & Hanover.......................Western Maryland.
Baltimore & H arrisburg................Western Maryland.
Baltimore & New York.................... Baltimore & Ohio.
Baltimore & Lehigh R R .................. York Southern.
Battle Creek & S tu rgis.............. ...L a ke Shore & Michigan Southern.
Bay City & Battle Creek....................Michigan Central.
Belleville & Carondelet......................Illinois Central System.
Belleville & Eldorado.........................Illinois Central System.
Bell’s Gap.......................... .................Pennsylvania <&Northwestern.
Birmingham Equipment.................. Kansas City Memp. & Birmingham.
Booneville Bridge..............................Missouri Kansas <&Texas.
Boston Clin. Fitch. & New Bed.......Old Colony.
Boston Concord & Montreal............. Concord & Montreal.
Boston & N. Y. Air L in e ................ N. Y. New Haven & Hartford.
Boston Rubber Shoe.........................United States Rubber (Miscel. Go’s)
Boston Winthrop & Shore...... .........Boston Revere Beach & Lynn.
Brooklyn & Montauk........................Long Island.
Brunswick & Chillicothe........ ........ Wabash.
Brunswick & Western....................... Savannah Florida & Western.
Buffalo New York & Philadelphia.. Western New York & Pennsylvania.
Buffalo & Southwestern....................Erie RR.
Burlington & Missouri River. .•........ Chicago Burlington & Quincy.
Cairo Arkansas & T ex a s................. MissouriPaciflc—St. L. I. M. & So.
Cairo Vincennes & Chicago............. Cleveland Cin. Chicago & St. Louis.
California & Oregon.........................Central Pacific.
California Pacific............................. Southern Pacific RR.
Calumet Gas..................................... People’s Gas Light & Coke.
Camden & Atlantic............................West Jersey & Sea Shore.
Canada Central.................................Canadian Pacific.
Cape Girardeau Southwestern.......St. L. Cape Girardeau & Fort Smith
Carbondale & Shawneetown............Illinois Central System.
Cedar Falls & Minnesota.................. Dubuque & Sioux City.
Cedar Rapids Iowa Falls & N. W ...Burlington Cedar Rapids &sNorth’n.
Cedar Rapids & Missouri River.......Chicago & North Western.
Central o f Ga. RR. & Banking........ Central of Ga. Ry.
Central I o w a .................................... Iowa Central.
Central Union Gas........ ....................New Amsterdam Gas.
Central Washington..........................Washington Central.
Charleston Cincinnati & Chicago...Ohio River & Charleston.
Charlotte Columbia & Augusta__ Southern Railway.
Charlottesville & Rapidan..............Southern Railway.
Chester & L e n o ir ......................... Carolina & Northwestern.
Chicago & Atlantic...........................Chicago & Erie.
Chicago Clinton Dubuque & Minn.. Chicago Milwaukee & St. Paul.
Chicago Gas....................................... Peoples Gas L. & Coke.
■Chicago Gas Light & C oke..............Peoples’ Gas L. & o. (Miscel. Co’s.)
Chicago & Great Western................ Chicago Terminal Transfer RR.
Chicago Hammond. & Western___.Chicago Junction.
Ghiougb & Indiana Coal....................Chicago & Eastern Illinois.
Chicago & Iow a................................. Chicago Burlington & Quincy.
Chicago Kansas & Nebraska............Chicago Rook Island & Pacific.
Chicago Milwaukee & N. W ............. Chicago & North Western.
Chicago & North Michigan...............Chicago & West Michigan.
Chicago & Northern Pacific............. Chicago Terminal Transfer.
Chicago & Ohio River.......................Peoria Decatur & Evansville.
Chicago <te Pacific............................. Chicago Milwaukee & St. Paul.
Chicago Santa Fe & California....... See Atchison System, Apr.,’96,S u p .
Chicago & St. Louis........................... Atchison Topeka & Santa Fe.
Chioago st. Louis & New Orleans.. .Illinois Central.
Chicago St. Louis & Pittsburg......... Pittsb’rg Cincinnati Chicago & St. L.
Chicago St. Paul & Kansas City— Chicago Great Western.
Chicago St. Paul & Minneapolis. . . . Chicago St. Paul Minn. & Omaha.
Chicago & Southwestern..................Chicago Rook Island & Pacific.
Chicago & Springfield........................Illinois Central.
Chicago & Tomah...............................Chicago & North Western.
Cincinnati & Baltimore..................... Baltimore & Ohio Southwestern.
Cincinnati Ind. St. Louis & Chioago. Cleveland Cin. Chic. & St. Louis.
Cincinnati Sandusky & Cleveland..Cleveland Cin. Chic. & St. Louis.
Cincinnati Southern.......................... Cincinnati New Orleans & Tex. Pao.
Cincinnati & Springfield...............C leveland Cinn. Chic. & St. Louis.
Cincinnati Wabash & Michigan.......Cleveland Cin. Chic. & St. Louis.
Clearfield & Jefferson........................Pennsylvania & Northwestern.
Clearfield Bituminous Coal.............. Beech Creek.
Cleveland & Canton.......................... Cleveland Canton & Southern.
Cleveland Columbus Cin. & Ind ....Cleveland Cin. Chic. & St. Louis.
Columbia & Greenville..................... Southern Railway.
Coloiado Bridge................................International & Great Northern.
Columbia & Red Mountain...............Spokane Falls & Northern.
Columbus Connecting <fcTerminal.. Norfolk & Western.
Columbus & Hocking Valley............Columbus Hocking Valley & Toledo.
Columbus & Indianapolis Central...Pittsb. Cincinnati Chic. & St. Louis.
Columbus Shawnee & Hooking.......Columbus Sandusky & Hooking.
Columbus & Toledo............................Col. Hocking Valley <fc Toledo.
Columbus Northwestern.................. Detroit & Lima Northern.
Columbus & Western........................Central of Georgia Ry.
Concord.............................................. Concord & Montreal.
Consolidated Terminal Railway.......Kansas City Suburban Belt.
Consolidated Vermont..................... Central of Vermont.
Consumers’ G a s ..............................Peoples’ Gas L. & C. (Miscel. Co’s.)
Coshocton & Southern.. . . . . . . . . . . . . . Cleveland Canton & southern
Current River......................................Kansas City Fort Scott & Memphis.
Dakota Central................................. Chioago & North Western.
Dakota & Great Southern....-------- Chioago Milwaukee & St. Paul.
Dallas & Waco....................................Missouri Kansas & Texas.
Danbury & Norwalk.......................N ew York New Haven & Hartford.
Danville & Grape Creek................... Chicago & East Illinois.
De Bardeleben Coal & Iro n ............Tennessee Coal & Iron (Miscel.)
Delano Land— .................................Lehigh Valley.
Denver Leadville & Gunnison........ Colorado & Southern.
Denver & Rio Grande W estern.......Rio Grande Western.
Des Moines & Kansas City..............Keokuk & Western.
Des Moines & Minnesota..................Chicago & North Western.
Detroit & Bay C ity............................ Michigan Central.
Detroit Bay City & Alpena............. Detroit & Mackinac.
Detroit Lansing & Northern . . . . . . .Detroit Grand Rapids & Western.
Detroit Mackinac & Marquette.......See Miscellaneous Companies.
J'^troit Monroe <fc Toledo.................. Lake Shore & Michigan Southern.
DistUllng & Cattle Feeding............. American Spirits Manufacturing.
" u® k i“ je r .........................................Nashville Chattanooga & St. Loult.
Duluth Short Line............................. St. Paul & Duluth.
Duluth & Winnipeg........ ...................Duluth Superior & Western.
Dutchess County...............................Central New England Railway.
nam e .
w il l be found u n d e r —
East Line & Red River..................... Missouri Kansas & Texas.
East River Gas................................. New Amsterdam Gas.
East Tenn. Va. & Ga ...............S o u t h e r n Railway.
Eastern of Massachusetts................ Boston & Maine.
Eastern o f M in n e s o ta ................G re a t Northern.
Easton & A m boy..............................Lehigh Valley.
Easton & Northern.......................... Lehigh Valley.
Edison Elec. 111. of Brooklyn..........Kings Co. Elec. Light & Power.
Elizabethtown Lexing. & BigSandy.Chesapeake & Ohio.
Elmira State Line............................ Tioga RR.
El Paso & Northeastern R R ............New M exico Railway & Coal.
Equitable Gas Light & Fuel............ Peoples’ Gas L. & O. (Miscel. Go’s.)
Equitable Gas Light Co. (N. Y .)....N ew Amsterdam Gas.
Erie & K a la m a z o o .........................Lake Shore & Michigan Southern.
Erie & Western Transportation Co.Connect. Terminal RR. (of Buffalo).
Escanaba <&Lake Superior...............Chioago <te North Western.
European & North American.........Maine Central.
Evansville Henderson & Nashville. .Louisville & Nashville.
Evansville Rockford & Eastern.......Louisville Evansv. & St. L. Consol.
Fargo & Southern............................. Chicago Milwaukee & St. Paul.
Florida Southern................................ Savannah Florida & Western.
Fort Dodge & O m aha......................Illinois Central.
Fort Smith & Van Buren Bridge___St. Louis & San Franoisoo.
Fremont Elkhom & Missouri Val...Chicago & North Western.
Georgia Midland & Gulf.................. Georgia Midland Ry.
Georgia P a cific................................ Southern Railway.
Georgia Railroad.............................. Georgia RR. & Banking Co.
Grand Rapids Newaygo & L. Shore. Chicago & West Michigan.
Grand River Valley.............. ............Michigan Central.
Green Bay Winona & St. Paul........ Green Bay & Western.
Harlem River & Portchester..........New York New Haven & Hartford
Hastings & Dakota............................Chioago Milwaukee & St. Paul.
Helena & Red Mountain................... Northern Paoifio.
H ereford.............................................Maine Central.
Hoboken Ferry................................. N. Y. &Hobok. Ferry (Miscel. Co’ s)
Holly Wayne & Monroe....................Flint & Pere Marquette.
Housatonio.......................................... New York New Haven & Hartford.
Huntingburg Tell City & Cannellt’n..Louisville Evansv. & St. L. Consol.
Huntington & Big Sandy.................. Ohio River.
Hyde Park G a s................................. People’s Gas L. & C. (Miscel. Co’ s.)
Illinois & St. L o u is ........................... Louisville Evansv. & St. L. Consol.
Indiana Block Coal........................... Chicago & Eastern Illinois.
Indiana Bloomington <sc Western__ Peoria & Eastern.
Indiana & Illinois Southern............. St. Louis Indianapolis & Eastern.
Indianapolis Cin. & Lafayette......... Cleveland Cin. Ohio. & St. Louis.
Indianapolis & St. Louis................... Cleveland Cin. Chic. & St. Louis.
Ionia & Lansing................................ Detroit Grand Rapids & Western.
Iowa & Dakota.................................. Chicago Milwaukee & St. Paul.
Iowa Falls & Sioux City....................Dubuque & Sioux City.
Iowa Midland..................................... Chicago & North Westera.
Iowa & M innesota...........................Chioago Milwaukee & St. Paul.
Jackson Lansing & Saginaw............Michigan Central.
Jaoksonv. St. Aug. & Indian R iv...F lorida East Coast.
Jacksonville Louisv. <fc St. L ou is... Jacksonville & St. Louis.
Jacksonville Southeastern...............Jacksonville & St. Louis.
Jamestown & Lake Erie.................. Jamestown & Chautauqua.
Jamestown & Franklin..................... Lake Shore & Michigan Southern.
Jefferson Madison & Indianapolis..Pittsburg Cincinnati Chic. & St. L.
Joliet & Chioago.................................Chicago & Alton.
Junction & Breakwater....................Delaware Maryland <&Virginia.
Kalamazoo Allegan & Gr. Rapids..Lake Shore & Michigan Southern.
Kalamazoo & South Haven............. Michigan Central.
Kalamazoo & White Pigeon............. Lake Shore & Michigan Southern.
Kansas & Arkansas Valley............. Missouri Pao. (St. L. I. Mt. <fe8o.)
Kansas City Fort Scott & Gulf........ Kansas City Fort Scott & Memphis.
Kansas City & Indep. Air Line.......Kansas City Suburban Belt.
Kansas City & Memphis Ry. Bridge.Kansas City Fort Soott <fe Memphis.
Kansas City & Pacino.......................Missouri Kansas & Texas.
Kansas City St. Louis & Chicago___Chicago & Alton.
Kansas City Southeastern & Memp.Kansas City Fort Scott & Memphis.
Kansas City & Southwestern............St. Louis & San Franoisoo.
Kansas City Springfield & Memphis.Kansas City Fort Scott & Memphis.
Kansas City Topeka & Western.......Atchison Topeka & Santa Fe.
Kansas City Wyandotte & N’th’w’n.Kansas City Northwestern.
Kansas & Missouri.............................Kansas City Fort Soott & Memphis.
Kansas Pacific.................................. Union Pacific.
Keithsburg Bridge........................... Iowa Central.
Kentucky Central............................. Louisville <fc Nashville.
Kentucky Union.............................. Lexington & Eastern.
Knox & Lincoln..................... ........... Maine Central.
Lackawanna & Susquehanna.........Delaware & Hudson.
Lawrence............................................ Pittsburg Youngstown & Ashtabula.
Lehigh & New Y ork.......................... Lehigh Valley.
Lehigh & Susquehanna....................Lehigh Coal & Navigation (Miscel.)
Lemington & St. Clair....................... Canada Southern.
Leroy & Caney Valley.......................Missouri Pacific.
Lexington & Frankfort....................Louisville <feNashv’le (L. C. & Lex.)
Lima Northern.................................. Detroit & Lima Northern.
Lincoln & Northwestern...................Chicago Burlington <S Quinoy.
Lincoln Park & Charlotte................ Buffalo Rochester & Pittsburg
Little Rock Junction........................ Missouri Pacific.
Little Rock & Fort Smith.................. Missouri Pacific.
Little Rock <fc Memphis....................Choctaw & Memphis.
Long Branch & Sea Shore.................Central New Jersey.
Long Dock Company................... . .Erie RR.
Long Island City & Flushing............Long Island.
Louisiana & Missouri River.............Chicago & Alton.
Louisville Cincinnati & Lexington..Louisville A Nashville.
Louisville & Frankfort..................... Louisville & Nashv.—L. C. & Lex
Louisville New Albany & Chioago..Chioago Indianapolis & Louisville.
Louisville New Orleans & Texas__ Illinois Central (Yazoo & M. V.»
Louisville St. Louis & Texas............Louisville Henderson & St. Louis.
Louisville Southern......................... Southern Railway.
Mahoning Coal:.............................L a k e Shore & Michigan So. System
ManitobaSouthwest’n Colonization. Canadian Pacific.
Marietta Mineral............................... Toledo & Ohio Central Extension.
Marietta & North Georgia...............Atlanta Knoxville & Northern.
Maple River........................................ Chicago & North Western.
Marquette Hougton & Ontonagon...Duluth South Shore & Atlantic.
Maryland Central.................. .......... Baltimore & Lehigh.
Massawippi........................................ Connecticut & Passumpsio.
Maysville & Lexington..................... Kentucky Central.—Louis. & Nash.
McKeesport & Belle Vernon...........Pittsb.McKeesport &Youghiogheny.
Memphis & Charleston.................... Southern Railway.
Memphis Clarksville & Louisville... Louisville & Nashville.
Memphis Equipment..........— . . . . . . Kansas City Memphis & Birming’m
MemphisKansas & Colorado............Kansas City Fort Scott & Memphis
S
IU D EX
[V o l .
LXVIII.
NAME
WILL BE FOUND UNDER—
KÄME.
WILL BE FOUND UNDER—
Richmond <fe Petersburg... . . ......A t l . Coast Line RR. of Virginia.
Memphis «fe Ohle.................................Louisville & Naghvflte.
York River «fc Ches..........Southern Railway.
Merchants’ B rid g e ................... .....S t. Louis Merch ts Bridge Ter. B 8 . Richmond
Rochester <&Pittsburg....................... Buffalo Rochester & Pittsburg.
Menominee Biver............................... Chicago & North Western.
Roanoke
&
Southern.........................Norfolk & Western.
Metropolitan Elevated..................... Manhattan Elevated.
Rome <fc Carrollton............................. Chattanooga Rome <&Southern.
Metropolitan Ferry............................Long Island.
Michigan Equipment........................ Chicago «fc West Michigan.
St. Charles Bridge............................. Wabash.
Midland o f Indiana............................ Chicago and Southeastern.
St. Lawrence <fc Ottawa.................... Canadian Paciflo.
Midland o f New Jersey............. . .New York Susquehanna & Western St. Louis Alton <fcSpringfield..........St. Louis Chicago <fc St. Paul.
Milwaukee Lake Shore «ScWestern..Chicago & North Western.
St. Louis Alton <&Terre Haute.......Illinois Central System.
Milwaukee «fe Madison....................... Chicago «fe North Western.
St. Louis Arkansas <feTexas........ St. Louis Southwestern.
Milwaukee «fe Northern..................... Chicago Milwaukee «fe SL Faul.
St. Louis Bridge <feTunneL............... Terminal Association o f St. Loul».
Milwaukee «fe St. Paul........................ Chloago Milwaukee «Sc St. Paul.
St. Louis <fc Chicago.......... ................. St. Louis Peoria <fe Northern.
Minneapolis «ScDuluth...................... Minneapolis & St. Louis.
St. Louis Council Bluffs & Omaha...Wabash.
Minneapolis «fe Pacific........................Minneap. St. P. & Sault Ste. Marie.
St. Louis Iron Mount’n «fc Southern..Missouri Paciflo System.
Minneap. Sault Ste. Marie <&Atl’tio. Mlnneap. St. P. «Sc Sault Ste. Marie. St. Louis Jacksonville & Chicago___Chicago & Alton.
Minneapolis U n io n .....................G re a t Northern.
St. Louis Kansas City & Northern...Wabash.
Minneapolis Western........................ Great Northern.
.
St. Louis Keokuk & S. W .................. Chicago Burlington & Quincy.
Minnesota Central............................. Chicago Milwaukee & St. Paul.
St. Louis Kansas & Southwestern Kansas Southwestern.
Minnesota «Sc Northwestern.............. Chicago Great Western.
St. Louis Peoria <&Northern.......... .St. Louis <fe Northern Short Lin«'.
Minnesota St. Croix * Wisconsin.. .Wisconsin CentralCompany.
St. Louis Salem & Arkansas.............St. Louis «fc San Francisco
Minnesota Valley............................... Chicago <&North Western.
St. Louis Southern............................. Illinois Central System.
Mlssisquoi Valley............................... Central Vermont.
St. Louis Wichita <fc Western.......... St. Louis <fe San Francisco.
Mississippi River Bridge.................. Chicago & Alton.
St. Paul” ............................................ Chicago Milwaukee <fe St. PauL
Missouri Kansas & Eastern...............Missouri Kansas & Texas.
St. Paul Minneapolis <fc Manitoba...Great Northern.
Missouri Valley «Sc Blair RR. Bridge. Chicago «fe North Western.
St. Paul & Pacino...............................Great Northern.
Missouri «ScWestern........................... St. Louis & San Francisco.
St. Paul <fc Sioux City bonds.......... ..Chic. St. Paul Minn. <fc Omaha.
Mobile «fe Bay Shore.......................... Mobile «Sc Ohio.
St. Paul <&8. C.. land grant stock...Miscellaneous Companies.
Mobile & Oirard.................................Central of Georgia Ry.
St. Paul Stillwater & T. F .................Chic. St. Paul Minn. <&Omaha.
“ Monon Route” ................................. Chicago Indianapolis & Louisville. Sanford & Lake Eustis.......................Jacksonville Tampa <fe Key West.
Montana Central................................Great Northern.
Sault St. Marie & Southwestern.....Chic. St. Paul Minneap. <fc Omaha.
Montauk Extension RR....................Long Island
Savannah Americus«fc Montgomery.Georgia <fc Alabama.
Montgomery & Eufaula...................Central of Georgia Ry.
Savannah & Charleston.................... Charleston <&Savannah.
Morris Canal......................................Lehigh Valley.
Savannah <fc Western.......... ..............Central ef Georgia Ry.
Muskegon Grand Rapids «Sc Indiana.Grand Rapids & Indiana.
Schuylkill River East Side................ Baltimore <fe Ohio.
Mutual Fuel Gas................................ People's Gas Light «fc Coke.
Scioto Valley <&New England.......... Norfolk <fc Western.
Seaboard Air Line..............................Seaboard & Roanoke.
Nantasket Beach R R ........................New York New Haven & Hartford Beattie Lake Shore «fc Eastern........ Seattle & International.
Nashua & Lowell............................. Boston «Sc Lowell.
Seattle <&Northern........ .................... Oregon Improvement.
Nashua <fe Rochester..........................Worcester Nashua <&Rochester.
Shenandoah Valley...........................Norfolk & Western.
National Cordage...............................Standard Rope «ScTwine.
Sherman Denison «fc Dallas............. Missouri Kansas & Texas.
Nebraska.............................................Chicago Burlington «Sc Quincy.
Sherman Shreveport <fc Southern...Missouri Kansas <fc Texas.
New Brunswick........ ................ .
Canadian Pacific.
Shore Line........................................... N. Y. New Haven <fc Hartford.
Newburg & New York.......................Erle RR.
Short Creek «fe Joplin.........................Kansas City Fort Scott <&Memphie.
New Haven & Derby........ ................New York New Haven «6 Hartford. Sioux City <& Paciflo.........................Chicago <&North Western.
New Jersey Midland......................... New York Susquehanna «feWestern. Sioux City <&St. Paul.........................See Miscellaneous Companies.
New Jersey Southern........................ Central of New Jersey.
Smithtown & Port Jefferson............. Long Island.
New York Biscuit.............................National Biscuit.
Sodus Bay & Southern....................... Elmira & Lake Ontario.
New Orleans «Sc Gulf........................... New Orleans «Sc Southern.
South Carolina................................... South Carolina & Georgia,
New Orleans Mobile & Texas........... Louis. & Nash. (N.O.& Mobile Div.) South Florida..................... : .............. Savannah Florida «fe Western.
New Orleans Paciflo......................... Texas & Pacific.
South Georgia <&Florida....................Savannah Florida & Western
Newport «fe Richford......................... Connecticut & Passumpslo.
South Side (Va.).................................. Norfolk <fc Western.
Newtown & Flushing....................... Long Island.
Southeastern & St. Louis..................Louisville <feNashville.
New York Bay Extension..............Long Island.
Southern Central................................ Lehigh Valley.
New York «Sc Brooklyn F e r ry ...___Brooklyn Ferry (Misceli. Co’s.).
Southern Georgia <fe F lo r id a ...........Savannah Florida de Western.
New York Elevated....................M a n h a tta n Elevated.
Southern Minnesota...................... ...Chicago Milwaukee & St. Paul.
New York & Erle.............................. Erle RR.
Southern Pacific Branch................... Southern Paciflo o f California.
Neva York Lake Erle «ScWestern.......Erle RR.
Southern Pennsylvania.....................Cumberland Valley.
New York «Sc Long Branch................ Central o f New Jersey.
Spartanburg Union & Columbia...Asheville <fe Spartanburg.
New York «Sc Manhattan Beach........ N. Y. Brooklyn & Manbat. Beach. Spokane <fe Palouse................ ...... ....Northern Pacific.
New York «Sc New England...............New England RR.
Steubenville <&Indiana......................Pittsburg Cinn. Chic. <fe St. Louie.
New York «Sc Northern..................... New York «Sc Putnam.
Stockton <&Copperopolis....................Southern Paciflo of California.
New York Pennsylvania «ScOhio___Nypano RR.
Sturgis Goshen <&St. Louis...............Lake Shore <fe Michigan Southern.
New York Providence «Sc Boston.....N ew York New Haven «Sc Hartford. Sugar Trust........................................ American Sugar Refining.
New York «Sc Oswego Midland.......... New York Ontario «Sc Western.
8unbury <feErie...... ..................P h ila d e lp h ia <feErie.
New York & Rockaway................... Long Island.
Superior Short Line..... ................... Chicago St. Paul Minn. & Omaha.
Nodaway Valley...............................Kan. City St. Jos. «Sc Council Bluffs.
Syracuse Northern............................. Rome Watertown <fc Ogdensburg.
Norfolk Albemarle «Sc Atlantic.........Norfolk Va. Beach «Sc Southern.
Syracuse Ontario & New Y ork..........West Shore.
Norfolk «fe Petersburg....................... Norfolk & Western.
Taylor’ s Falls <fe Lake Superior.......St. Paul <feDuluth.
Norfolk 8outhem...............................Norfolk «Sc Southern.
Tarkio V a lle y ................................... Kan. City St. Jos. <& Counoil Bluffa.
Norfolk Terminal & Transfer..........Chesapeake «Sc Ohio.
Tebo <fe Neosho....................................Missouri Kansas <&Texas.
Northeastern RR. of So. Carolina.. Atl. Coast Line RR. of So. Car.
Terre Haute <&Southeastern............Evansville & Indianapolis.
Northern Illinois.............................. Chicago «fc Northwestern.
Texarkana <& Ft. Smith....................Kansas City Pittsburg «fe Gulf.
North Missouri................................. Wabash.
Texas Mexican............. .................... Mexican National.
North Shore........................................ Canadian Pacific.
Toledo Ann Arbor <fe No. Michigan.Ann Arbor Railway.
North Wisconsin................................. Chic. St. Paul Minn. «Sc Omaha.
Toledo Belt....................................... Wheeling «fe Lake Erie.
Northern California..........................Southern Paciflo RR.
Toledo Cincinnati <fc St. Louis........ Toledo St. Louis <fe Kansas City.
Northern Ry. (Cal.)........................... Southern Pacific RR.
Toledo Columbus <fe Cincinnati.......Toledo <fc Ohio Central. *
Northwestern Grand Trunk.............Chicago «Sc Grand Trunk.
Toronto Grey <feBruce.....................Canadian Pacific.
Northwestern Union.........................Chicago «Sc North Western.
Troy <&Boston..................................Fitchburg.
Tunnel Railroad of St. Louis.......... Terminal Ass’n of St. Louis.
Ocean Steamship................................Central of Georgia Ry.
Ohio Central....................................... Toledo «Sc Ohio Central.
fTnion.................................................. Northern Central.
Ohio Indiana «ScWestern................... Peoria «Sc Eastern.
Unton Paciflo Denver <&Gulf..........Colorado <&Southern.
Ohio Land «Sc Ry. Co.......................... Columbus Hocking Val. «fc Toledo.
Union
<& Logansport........................ Pittsburg Cincin. Chloago <&St. L.
Ohio <fe Mississippi.............................Baltimore «Sc Ohio Southwestern.
Union Ter. Ry. of Kansas City, Kan. Kansas City Suburban Belt.
Ohio River <& Charleston.................So. Carolina <&Georgia Extension.
United
States Cordage..... ............... Standard Rope <&Twine(Mi80.Co*8.>.
Ohio «fc West Virginia.........................Col. Hooking Valley «fc Toledo.
Upper Coos......................................... Maine Central.
Ontario & Quebec.......................... . Canadian Paciflo.
Utah
Central.......................................Rio
Grande Western.
Oregon Central <& Eastern.............. Corvallis & Eastern.
Utah <feNorthern............................... Oregon Short Line.
Oregon Improvement............. ........ Pacific Coast Co.
Utah
Southern....................................Oregon
Short Line
Oregon ShortLine «ScUtahNorthem.Oregon Short Line.
Utica <fc Black River.......................... Rome Watertown <& Ogdensburg.
Oswego <fc Rome.................................Rome y) atertown <fc Ogdensburg.
Ottawa Oswego <fe Fox River........... Chicago Burlington«fc Quincy.
Valley Ry. of Ohio............................Cleveland Terminal <fc Valley.
Ottumwa Cedar Falls <fc St. Paul___Chicago «ScNorth Western.
Venice <fe Carondelet.........................Louisville Evans. <&St. L. Consol.
Verdigris Val. Independ’ce «feWest..Missouri Paoifio.
Paducah Tennessee & Alabama... .Louisville <fc Nashville.
<fe Meridian....................... Alabama «fc Vicksburg.
Pawtuxet Valley................................ New York New Haven <&Hartford. Vicksburg
Virginia & Tennessee.........................Norfolk <feWestern.
Pecos Valley....................................... Pecos Valley <&Northeastern.
Pennsylvania <&N. Y. Canal............ Lehigh Valley.
W a co <&Northwestern....................... Houston <&Texas Central Railway.
Penn. Poughkeepsie & Boston........ Lehigh <& New England.
Walker Co.................................
West’ghou8eEl.<fcMan.(Miso.Co’ s.).
Penobscot Shore Line................... ...Marne Central.
Ware River......................................... Boston <fe Albany.
Pensacola <&Atlantic........................ Louisville <fc Nashville.
Warren <&Venango.......................... Dunkirk Allegheny & Pittsburg.
Petersburg
................................ ..Atlantic Coast Line RR. of Va.
Warwick Valley.................................. Lehigh <&Hudson River.
Philadelphia Marlton <&Medford...Camden <fc Atlantic.
Washington City <fe Point Lookout. Baltimore <&Ohio.
Philadelphia & Reading................. Reading Company.
Washington Ohio & Western............Southern Ry.
Phil. Reading <fc New England.......Central New England Railway.
Waynesburg <&Canton.......................Cleveland Canton <fe Southern.
Pittsburg Akron & Western............Northern Ohio.
Wellston <fc JacksonB elt.................Columbus Hooking Valley <feToledo.
Pittsburg (finoinnati <&St. Louis___Pitts. Cinn. Chic. <fc St. Louis.
Western <fe Atlantic.......................... Nashville Chattanooga <fe St. Louis.
Pittsburg <&Conn ells ville................. Baltimore <&Ohio.
Western Minnesota........................... St. Paul <feNorthern Paoifio.
Pittsburg Shenango <&Lake Erie...Pittsburg Bessemer <&Lake Erie.
.Western North Carolina................... Southern Railway.
Pittsfield & North Adams.*...............Boston <&Albany.
Western Paoifio................................. Central Paciflo.
Pleasant Hill <&De Soto.................... Kansas City Clinton <&Springfield.
West Jersey........................................ West Jersey <fe Seashore.
Plymouth & Middleboro.................Old Colony RR.
West Jersey <fe Atlantic.................... West Jersey <&Seashore.
Port Huron <feNorthwestern............Flint <fe Pere Marquette.
West Wisconsin...................................Chic. St. Paul Minneap. <fc Omaha.
Portland <fc Ogdensburg................... Maine Central.
Wilkesbarre <feEastern..................... N. Y. Susquehanna <&Western.
Willmar «fe Sioux F a lls ...................Great Northern.
Port Royal & Western CaVoïtea" \Charleston «&Western Carolina.
Wilmington Columbia <fe Augusta... Atl. Coast Line RR. of So. Car. .
Portsmouth Great Falls <fc Conway .Boston <fc Maine.
Wilmington <&New Bern.................. Wilmington & Weldon.
Postal Telegraph Cable.................... Commercial Cable.
Wilmington Ry. Bridge................... Carolina Central.
Prescott & Eastern..........................S a n ta Fe Prescott <fc Phoenix.
Winona <fe St. Peter............................ Chicago <feNorth Western.
Wisconsin fc Minnesota....................Wisconsin Central Company.
»uincy Alton <&St. I-opi«*................ Chicago Burlington <&Quincy.
Wisconsin Minnesota «fc Paoifio........ Minneapolis <fe St. Louis.
Wisconsin Valley................................Chicago Milwaukee & St PauL
R avens wood Spencer & Glenville..Ohio River.
Republican Valley.......... .................. Chicago Burlington <fc Quincy
York «fcPeach B ottom .................... Baltimore <fe Lehigh..
Rich H ill..............................................Kansas City Ft. Scott <fe Mem.
Richmond <fc Danville....................... Southern Railway.
Zanesville Terminal......................... Columbus Sandusky <fe Hooking
RAILROAD COMPANIES.
(F or M
isc e l l a n e o u s
C o m p a n ie s
see
pages
151
to
161
i n c l u s i v e .)
EXPLANATORY.—This S u ppl e m e n t is expressly Intended for nae in connection with the investment news and official reports published
from week to week in the Ch r o n ic le . Frequent references are therefore made to the volume and page of the Ch r o n ic le (as, V. 64, p. 000)
where fuller information may be found. Following each statement also is given a reference to the latest news Item in the Ch r o n ic le respecting
the company. As every such item contains a reference to the last preceding item, the reader can run back over the company’s history
at pleasure. Annual reports are in hlaok-faced figures, and italics indicate a paragraph headed by the name of some other company.
Index.—Any company not in its regular alphabetical order may he found by means of the index to roads leased and consolidated.
Dividends.—The dividends tabulated in the text are those actually paid during the calendar years named, irrespective of when earned.
Net earnings are given after deducting operating expenses and usually taxes, but not interest, rentals or other fixed charges.
Securities.—'These are described in table at head of page [except the stock, for lack o f space, sometimes only in text below] as follow s:
Miles o f Road.—Opposite bonds, this means the miles of road owned covered by the mortgage.
Size or Par Fait«!.—Shows (in dollars unless otherwise marked), the denominations or par value, “ 100, Ac.,” signifying $100 and larger.
Rate Per Cent.—The interest and dividend rate, per annum is here show n: g., gold: cur , currency; x, extra; s. stock or scrip.
When Payable—A. A J. stands for January and J u ly ; F- A A., February and August; M. A 8., March and September; A. A O., April and Ootober;
M. AN.. May and Nov.; J. & D., June and Deo.; Q.—J., quarterly from Jan.; Q.—F., quarterly from Feb.; Q .-M .. quarterly from March.
Bonds, principal when due, etc.—This oolumn shows the date when the bonds mature and the amount and date of the last dividend.
Abbreviations in ta b le : M. for “ mortgage; ” gen. M. for “ general mortgage; ” con. M. or consol. M. for “ consolidated mortgage; ” ino. M.
or “ income m ortgage;” g. for “ g o ld ;” o. or our. for “ cu rren cy;” guar. p. & i. for “ guaranteed principal and interest, ’ cum. for
■“ cumulative; ” non-oum. for “ non-oumulative; ” conv. for “ convertible; ” pref. for “ preferred; ” s. f. for “ sinking fun d; ” 1. gr. for “ land
grant; ” r. “ registered; ” o. “ coupon; ” c.* “ coupon but may be registered as to principal; ” br. “ branch; ” end. “ endorsed; ” “ red.” redeemable;
■
“ d’rn ” or “ drawn” subject to call when drawn by lo t; “ p. m.” “ per mile;” as’ d “ assumed.” “ x ” Principal and interest payaule without
deduction for any tax which the company may be required by law to pay. “ n ” No more issuable.
Mortgage Trustees are indicated thus;
_N
ew
Y o r k C it y —
A —"' A tlantic Trust.
€ e — Central Trust.
C o— Continental Trust.
F — Farmers’ Loan & Trust.
O — Guaranty Trust.
K .— Knickerbocker Trust.
M b -M anhattan Trust.
M e -M e r ca n tile Trust,
flip—Metropolitan Trust.
N— N. V. security & Trust.
S — State Trust.
JUn— Union Trust.
Bosto n
U h— United States -^rust. ;
A B —American Loan & Trust.
B B —Boston Safe Dep. & Tr.
I B — International Trust.
M B —Massachu’tts Loan & Tr.
N B — New England Trust.
O B— Old Colony T st.
R a l t im o r e —
B B a — Balt. Tr. & Guaranty.
F B a - Fidelity & Deposit.
M B a — Maryland Trust.
H e Ba—Mercantile Tr. & Dep.
S B a — Safe Dep. & Trust Co.
L o u is v il l e —
C h ic a g o
C L —Columbia Finance & Tr.
F L—Fidelity Tr. & Safety Vit.
L L - Louisville Trust.
P h il a d e l p h ia —
F P — Fidelity Insur’noe Trust
& Safe Deposit.
G P — Girard L ife Insurance
Annuity & Trust.
C in c in n a t i —
C C i— Central Trust & Safe G u P —Guaranty Tr. & S.Dep.
F P - Penn. Co. fo r Insur. on
Deposit.
Lives & Gr. A nn.
U C i—Union Savings Bank &
W P —W est End Tr.& S. Dep.
Trust.
E C — Equitable Trust.
1C— Illinois Trust & Sav. Bk.
1MC—Merchants’ Loan & Tr
N ( ! - Northern Trust.
B C — Royal Trust.
U C — Union Trust.
P it t s b u r g —
F P I —Fidelity T itle & Trust.
P PI—Pittsburg Trust.
U P i—Union Trust.
ST. LOUIS-
lH St—Mississippi Valley Tr
8 9 t — St. Louis Trust.
U S t— Union Trust
S a n F r a n c is c o —
C S —California Safe Deposit
& Trust.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
Bonds—Prinoi
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Dae*
Par Outstanding
of
Stocks—Last
For explanation of oolumn headings. Ao. see notes of
Cent. Payable
Whom.
Road. Bonds Value.
above.
Dividend.
Aberdeen «6 Asheboro—Aber. & West End 1st mort.
Adirondack.—1st Mv gold, gu. p. <&i. end., U s o*&r
Alabama Great South'n—“ B” shares (English Co.).
Pref. “ A” shares, (English Co.) 6%, £800,000___
1st M. (American Co.) gold, $1,750,000........ F .c
Gen.M., £1,160,000, red.at 110 June l , ’98.Ce.o
Debentures, gold (English Co.)............................. 0
64
57
297
297
297
297
....
Alabama Midland—Common stock............................
Pref. stock, 6 p. ct., non-oum.; no voting power..
1st M., guar. p.&i. end. Sav. F. & W., gold .fllp .xo
IstM ., Sprague to Luverne,gold............. JHp.xo*
Ala. N. 0. Tex. dt Pac. June,—Deferred “ B” shares...
175
33
“ A” deben., red. aft. Nov. 1,’10, at 115—See text.o
“ B” debentures, inoome, red. after 1910 at 115.0
“ C” deb., inoome, subject to call any time at 100.
Interest cert, (secured by £34,193 “ C ” d e b .)....
Alabama tfi Vicksburg—Stook.....................................
V loksburg* Mer. 1st M. gold, $1,000,000..F .x c
Ala. & Vieks. oonsoLlst M., ($1,800,000) g..C e.c
2d M., orig. $700,000, ino. till Apr., ’94, g .C e .c
n No further bonds issuable.
....
143
143
143
143
$50,000
6
J. A J. Balt.,Mer.Tr.& Dep.Co. Jan., 1910
1,000,000
413 g. M. A S. N. Y.Of.,21 CortlandtSt. Dee. 1, 1942
£1,566,000
London.
Deo., 1892
£676,070 6 in ’98 J. & D.
do
Deo., ’98, 3%
$1,750,000
6 g. J. A J. N. Y.,Farm.L. ATr. A Bos Jan. 1, 1908
1878
£526,000
1888
5 g. J. A D. London,Glyn,MUlsACo. Deo. 1, 1927
£134,000
FA A 15
do
do
1886
Aug. 15,1906
!
g£53,257
do
do
1888
By sink’g fund
$2,625,000 [Plant In vest. Co . owns $2,425,000 of th is.l
1,600,000 [PlantIn vest. Co . owns $1,200,000 o f th is. j
....
n 2,800,000
M. A N. N. Y.,Met’politan Tr.Co. Nov. 1, 1928
1888
Î6 g.
g- J.
A D.
500,000
1890
Deo. 1, 1929
£2,500,000
£1,500,000
£748,850
See remarks.
1890
N ov.l,1910-40
5 g- M. A N.
£1,048,390
1890
5 g- M. A N. 2 %% for ’ 97 pd. Feb. ’98. N ov.l,1910-40
£810,652
See remarks.
1890
5 g- A, A O.
Nov. 1, 1940
£28,494
$700,000 5 In 1898 Yearly. New Orleans, Office. Oot. 1, ’98, 5%
100
1,000 n 1,000,000
1881
f g. A. A O. N. Y., Central Trust Co. Apr. 1, 1921
588,800
• do
do
1889 100 Ac.
Apr. 1, 1921
5 g- A. A O.
638,300
do
do
Apr. 1, 1921
1889 100 Ac.
5 g- A. A O.
1890
1892
.,
$1,000
1,000
£10
£10
$1,000
£100
£100
Various.
$100
$100
$1,000
1,000
£10
£10
£50 Ao.
£20 Ao.
£20 Ac.
A b e r d e e n A A s b e b o r o R R . —Aberdeen to Asheboro, N, O., 56
m.; branch to Troy, N. 0., 8 m. Stock, $250,000; par, $100. Earnings
in year 1896-97, gross, $18,427; net, $12,424; interest charges, «5,493.
A d d is o n Ac P e n n s y l v a n i a R y . —Owned Addison, N. V., to
Gaines, Pa., 41 miles', and leased Gaiaes to Galeton, Pa., 5 miles.
Foreclosed, three oompan es being f >rmed to take title to the different
portions, all of which in Sept., 1898, leased their respective properties
-to the Buff. A Sns. at fixed rentals for 25 years.—V. 67, p. 427.
A d ir o n d a c k R y . —Saratoga to North Creek, N. Y „ 57 m. Stock,
$2,600,000; par, $100. The bonds carry the endorsed guaranty of the
Delaware & Hudson; $1,000,000 bonds reserved for extensions at
$20,000 per mile o f completed road. In year ending June 30,1898,
ross, $208,305; net, $72,496; other income, $8,405; charges, $52,006.;
n 1896-97, gross, $199,725; net, $67,810. (Y. 59, p. 1102.)
A la b a m a G r e a t S o u th e r n R R . - (See Map Southern Railway.)—
Owns Wauhatchie, Tenn., to Meridian, Miss., 291 miles; branch lines
«w ned, 6 m iles; leases Wauhatohie to Chattanooga, 5 miles, and Belt
By. o f Chattanooga, 43 m iles; trackage to Blookton, Ala., 8 miles, and
Woodlawn, 19 m iles; total operated, 372 miles.
O r g an ization .—Controlled by Southern Ry., hut operated independ
outiy under agreement with Cincinnati Hamilton & Dayton. See V. 60
p. 26; V. 61, p. 375. Ala. Great Southern Ry. Limited owns all of the
stock and debentures of Ala. Great So. RR., and has issued in place
thereof its own stock and debentures respectively for a like amount.
The two companies own jointly $1,000,000 stock of Southwestern
Construction Co. received in exchange for $1,000,000 Cin. N. O. &
Tex. Pao. stock. See Y. 65, p. 1173.
S tock .—Of the capital stook of the English Co. the Southern Railway
■Co. on July 1, 1898, owned $1,725,000 “ A ” shares aud $4,540,050
<B” shares. V. 61, p. 26. For right to dividends see March, ’ 94, S u p p .
f
D iv id e n d — ) ’ 89. ’ 90. ’ 91. ’ 92. ’ 93. ’ 94. ’ 95. ’ 96. ’ 97.
’98.
“ A” shares. %> 6
9
6
6
0
0
6
0
9
6
“ B” shares.% ) 0
0
1 ^ l-'a 0
0
0
0
0
0
B onds .—General M. 6s, £484,000, w ill retire 1st 6s and debentures
L ate st E arnings —5 mos. 11898___Gross, $749,826; net, $257,021
July 1 to Nov. 30.
( 1 8 9 7 ....Gross, 727,851; net, 268,835
' A nnual R epo r t .—Report for 1897-98 was in V. 67, p. 1158, show*
in g : Gross, $L,7i 1,933; net, $559,02*; other income, $7,359; inter*
est on bonds, $282,862; income tax, etc., $17,587; balaupe for stock»
$265,939; dividends on stock of American Co. (6 p. c.), $190,571.
In 1896-97, gross, $1,605,546; net, $502,505; : other income,
$5 ,511; interest and rentals, $280,134; otuer charges, $17,960; bal
ance for stook, $209,922; dividends on stook o f American Co. (6 p. c.),
$190,570. See V. 64, p. 325, for statement of English Co. June 30,
1 8 » 6 .-(V . 64, p. 3 * 5 ; V. 65, p. 7 7 6 ,1 1 7 3 ,1 1 5 8 .)
A la b a m a W ildland R y . — Owns Bainoridge, Ga.. to Montgomery
175 miles; branoh, Sprague Junction to Luverne, 33 miles; total
owned, 208 miles. Operates Abbeville Southern, Abbeville Junction
to Abbeville, 27 miles; completed Nov., 1893. B onds due 1928 have
been reduced from 6 to 5 p. o. and stamped principal and interest
guaranteed in gold by the Sav. Florida & West. No arrangement was
made with the branch line bonds, mostly held by the Plant Investment
Co., which controls the Alabama Midland stock. Current aooounts
payable June 3 0 ,1 8 9 7 , $1,656,116.
E arn in g s .—5 months,
) 1898.............Gross, $369,302; net, $85.982
July 1 to Nov. 30.
) 1897............. Gross, 290,686; net, 55,805
In 1897-98, gross, $766,274; net, $143,679. For year 1896-97. gross
$671,456; net, 111,650. In 1895-96, gross, $624,182; net, $91,729. '
U a b a m a N e w O r le a n s T e x a s Ac P a c ific J u n c t i o n R a i l w a y s C o . ( L im it e d .) —This is an English company controlling Ala
bama & Vloksburg, 143 miles ; Vicksburg Shreveport A Pacific, 189
miles ; New Orleans & North Eastern, 196 miles.
S e c u r it ie s O w n e d .—Ala. A Vloksb $30,000 1st mort., $387,700 2d
mort., $141,000 oonsol. 1st M. and $387,700 stock; Vloksb. Shreve
& Pacific, $3,692,000 1st M., $1,364,000 3d M., $494,860 4 p; o. In
comes and $1,594,000 stook ; New Orleans A North East., $4,900 000
1st M. and $4,320,000 stook; Southwestern Construction Co. $532000 stook; overdue coupons N. O. & N. E. and V. S. A Pao. Deo. 31 ’ 97
£1,051,678.
’
*
Coupons P aid —
For 1891. 1892. 1893. 1894. 1895. 1896 ’ 97
^ ’’ Debentures.. P .c. 2*3 2 ^
0
*875
1 2*3 ’ 2 %
‘A ”
do
..
All ooupons paid to May, 1898, inclusive.
E arnings .—See separate statement for each of the controlled 00m panies. Report of the Junction Rys. Co. for year ending Deo 31
1897, was in V. 66, p. 284, showing net receipts from investments were
£68,341; paid general expenses (£3,765), Inoome tax (£1,879), Interest
on “ A” debentures, (£36,194), on “ B” debentures 2% p. c. (Daidin
Feb., 1898), £27,870 ; balance £716. V. 64, p. 325; V. 66, p. 2 8 4 .
A la b a m a Ac V ic k s b u r g R y . — Owns Vloksburg to Meridian. Mia«
and branoh, 143 miles, all steel rails. Controlled by Alabama New
Orleans Texas & Paoiflo J unction Co.—wmoh see. Reorganization o f
the Vloksburg A Meridian foreclosed Feb. 4,1889 (see V. 48, p. 190).
D iv id e n d s .—1890 to ’92, 3 p. 0. yearly; ’ 96,3 ; ’ 97, 5 ; 1898, 5 p. 0.
B onds .—The new seconds were inoom Jltlll April 1,1894, and are a
first lien on the lands—92,069 acres. Of the $1,800,000 consols author
ized, $1,000,000 are with trustee to retire V. & M. firsts. Right to call
Vieks. & Meridian assenting bonds expired April 1,1897.
E arnings .—Fiscal year ends June 30. In 1898, Jan. 1 to Deo. 31 (12
m os), gross, $687,990, agst. $624,057 in 1897. R eport’97-8, V. 67, p. 950
Years—
dross.
Net.
Interest, etc. Bat. sur. Dividend.
1897-98....$682,054
$203,523
$123,137
$80,386
$35.000
1896-97... 637,528
186,393
125,412
60,981
21 0 00
-(V. 63, p. 5 5 5 , 6 5 0 V. 65, p. 6 1 7 ; V. 66, p. 286 ; V. 67 .9 5 0 .
INVESTORS’
SUPPLEMENT.
[You LXv ili.
J
anuary,
1899. J
RAILROAD
STOCKS AiND
11
BONDS.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d I n th e s e T a b le s .
Bonds—Prino».
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
of
of
Par
Rate per When Where Payable and by Stocks—Last
Outstanding
Road. Bonds Value.
on first page o f tables.
Cent. Payable
Whom.
Dividend.
Albany A Northern -S to c k .
$100
$350,000
. . . . 1696
1,000
400,000
5
J. & J.
Albany A Susa.—Stock, divl’ ds guar, by D.& H. (end)
....
....
100
3,500,000 7 in 1898 J. & J. N. Y. ,Del. &Hud. Can. Co.
Consol. M. (guar. p. A i. end.) ourreney 7s. P.e*Ai 142 1876
1,000 n 3,000,000
7 cur. A. & O.
do
do
142 1876
Do
do
6s, interest only in gold ....
1,000 u 7,000,000
do
do
6 g. A. & O.
12
Albany A Vermont—Stook...........................................
....
100
600,000
3
M. & N.
Troy, N. Y.
Allegheny A Kinzua—1st M., $500,000, gold .C e.c’ . . . . 1890
485,000
1,000
F.
&
A.
In
default.
5 g.
98
Allegheny A Western—Stock ($2,500,000)...............
....
100
2,500,000
New York.
6 g. J. & J.
98 1898
1st M. $2,500,000, gold, guar., p. & 1. en d.G .......
None.
do
do
4 g. A. & 0.
Oct. 1, 1998
Allegheny Valley—Common stock for $12,000,000.. 259
50 10,544,200
.
Preferred stock for $18,000,000, 3 per cent cum. 259
50 16,724,600
259 1870
1st M., low grade,East’n Ext., guar. Penn. F "
$& &
9,998,000 6 g. or 7 A. & O. Phil., Pa. RR. Co. & Lon.
259 1870 100,000
1,000,000
5
J. & J.
Pittsburg, Pa.
259 1892
1,000
5,692,000
,4 g. M. & 8. Philadelphia, Pa. RR.Co Mch. 1, 1942
Allentown RR. (leased to Phila. & Reading Ry.) ..
....
....
50
1,268,885 inol. $1, 071,400 under Reading Co.mort. of 1896.
Allentown Term’l—1st M., guar.p.&i.(end.)g.Ce.xo*
3 1889
1,000
n450,000
4 g. J. & J. New York and Phila. July 1, 1919
,Ann Arbor Railroad—Common stook.......................
100
3,250,000
Preferred stock ($4,000,000), 5 p. o., non-oum...
100
4,000,000
1st mortgage, $7,000,000, gold.................M p x.c* 292 1895
1,000 n7,000,000
4 g. Q.—J. N.Y., Metropol. Tr. Co. July 1, 1995
Annapolis Washington A Baltimore.—Stook............ 20*3
....
100
358,000 See text J. & J. Stk.own.by B.& A.Sh.L.
A rk. MidVd—1st M. ($6,000 p.m.)g.,red.atllO.Ce.c*
■74 1891
1,000
176,000
6 g. J. A J. N.Y.,H.Tallmadge& Co. July 1, 1911
Ashland Ooal A Iron Railway.—1st mortgage....... . . . . 188C
1,000
244,000
7
F. & A. First Nat. B k„ Cincin.
A tch iso n T opeka & Santa F e B y .—Stock, com .. 6,935
100 102,000,000
Stook, preferred, 5 p. c., non-cumulattve.............
....
....
100 120,686,000 1 Jan ’ 99
Checks mailed fr. N. Y. Jan.26,’9 9 ,1 %
Chic. & St. Louis 1st M. ($10,000 p. m.) ou r.F ..c 150 1885
1,000 n l , 500,000
6 cur M. & S. N. Y., 59 Cedar Street. Mch. 1, 1915
Old bonds not assenting to reorg. of 1 8 8 9 ...o*<fer —
—
693,210 Various.
Various.
General mortgage of 1895, securing—
General mortgage, gold, see text........ ITn.o*&r 6,946 1895 500 &o. 124,094,100
4 g. A. & 0. New York, 59 Cedar St. Oot. 1, 1995
Adjust, ine., non-cum. till July 1,1900, g., Ce.o*&r 6,946 1895 500 &o. 51,728,000
4 g. Nov. 1 Paid 4 p.c. Nov. 1,1898 July 1, 1995
Equip. Tr., Ser. A., g., $250,000 dr. y’ly at pa r.. ,c
1892 500 &c,
750,000
5 g- J. & J. New York and London. Jan.l, 1900-02
n No further bonds issuable.
cur., currency.
RAILROADS.
A lb a n y A S u s q u e h a n n a R R . — ( See Map Delaware A Hudson.)—
R o a d .—Owas Albany, to Binghamton, N. Y., 142 miles. Leases,
Duanesburg Junction, N. Y., to Schenectady, 14 miles; Cobleskill,
N. Y., to Cherry Valley, 21 miles; Lackawanna & Susquehanna RR., 22
miles; East Glenville to Coons, 10 miles; total operated, 209 miles.
L eased for 150 years from February, 1870, to Delaware & Hudson
Canal Co., which Deo. 31,1897, owned $450,000 stock. Lessee guaran
tees 7 per cent per annum on stock till the Albany City loan for $1,000.000 is paid by sinking fund, thereafter 9 per cent. (See wording of
guaranty in V. 56, p. 774.) The last instalment of the Albany City
loan was paid May 1,1897, but the sinking fund fell $296,878 short of
meeting the principal. This amount has been borrowed, payable in
semi-annual instalments up to May 1,1902, and w ill be met from
sinking fund (now $70,000 yearly) before dividends are increased
Additions charged to lessors, and cost made part of investment.
A n nual R e p o r t .—Earnings for years ending June 30:
Gross.
Net.
Ohar. A taxes. Bal., sur,
1 8 9 7 -8 ...................... $4,125,187 $1,822,427 $1,113,184
$709,243
1896-7........................ 3,924,524
1.651,131
1,102,614
548,517
—(V. 62, p. 318, 907; V. 63, p. 3 5 5 , 879; V. 67, p. 954.)
A lb a n y A V e r m o n t R R . — Owns road from Albany to Water
ford Junction, N. Y., 12 miles, Leased to Rensselaer & Saratoga in
1860 and now operated by D. & H. Canal Co. Annua) rental, $20,000.
A lle g h e n y Sc W e s te r n R y . — ('Nee map Buff. Roch. A Pitts.)—
Under construction from Punxsutawney to Butler, Pa. (about 60
miles) as an extension of Buff. Roch. & Pitts., to which it is to be leased
o n completion about May, 1899, for guaranty of bonds (4s) and 6 per
eent yearly on stook. To use Pitts. & West, from Butlerto New Castle
under a trackage arrangement, making in all about 98 miles. V. 67,
p. 735. The cost of the road is represented by $2,500,000 of stock,
subscribed and paid in at par, and $2,500,000 bonds; of the latter
$500,000 are to be issued only in case the line is built from Butler to
Newcastle.—V. 67, p. 1355, V. 67, p. 72, 1355.
A ll e g h e n y V a lle y R a i l w a y . — Owns from Pittsburg to Oil City,
Pa., 132 miles; Red Bank,Pa., to Driftwood, 110 m ; others, 17 miles.
Brookville, Ry., 13 miles, l s controlled. See V. 64, p. 1179.
O r g a n iz a t io n , dec.—Reorganization March 1,1892, of the Allegheny
Valley Railroad, sold in foreclosure Deo. 15,1891. P l a n of reorganiza
tion, etc., was in V. 53, p. 324,368, 520; V. 54, p. 409,524. Road con
trolled by the Pennsylvania RR. Co. as majority stockholder, owning
$9,653,800 common and $11,431,656 preferred stook. Wording of
pref. certificate was in editorial of Su ppl em en t of Oct. 30,1897, p. 3.
B onds .— General mortgage has prin cipal and interest unconditionally
guaranteed b y Penn. R R . by endorsem ent on eaoh bond.
E arn in gs .—11 months,) 1898..... Gross, $2,442,307; net, $1,025,456
Jan. 1 to Nov. 30.
S1897......Gross, 2,324,948; net,
982,134
R e p o r t .— Report for year 1897, V. 66, p. 1234: Gross, $2,553,134
net, $1,074,869; int., taxes, eto., $1,074,297; balance, surplus, $571.
A l l e n t o w n R R . — Toptonto Kutztown, Pa.,4*2 m.; Reading system
A l l e n t o w n T e r m i n a l R a i l r o a d . — Owns 3 ^ miles of railroad in
Allentown fa ., connecting the East Perm. (Philadelphia & Reading)
with the Central of New Jersey. Leased for 999 years to Philadelphia &
Reading and Central of New Jersey (by assignment from Lehigh Coal &
Navigation Co.) at interest on bonds and 5 p. c. on $450,000 stock (par
$50), Donds being guaranteed, principal and interest, by Philadelphia &
Reading (foreclosed) and Lehigh Coal & Navigation. The Phila. &
Reading Ry. Co. in 1896 assumed the Reading’s share of the old lease.
A n n A r b o r R R . — (See Map.)—R o ad .—Owns road from Toledo^^T,
northwesterly to Frankfort, on Lake Michigan, 292 miles; operates car
ferries between Frankfort, Mich., Kewaunee and Maintowoc, Wis.,
and Menominee and Gladstone, Mich. The Flint & Pere Marquette
and Detroit Toledo & Milwaukee use the Toledo terminals.
O r g a n iz a t io n .—Successor Nov. 1, 1895, to Tol. Ann Arbor & Nor
Mich., sold in foreclosure in 1895 and reorganized under the QuintardLawrence p la n in V. 59, p. 782, the Escanaba Frankfort & S. E
being formally absorbed.
j
Sto ck .—Pref. stock certificate in editorial in S u pp . Oot. 30,1897, p. 3
B onds , E tc .—The first mortgage (trustee, Metropolitan Trust Co.
N. Y.) covers entire property, including terminals and freight boats.
Floating debt June 30,1898, notes payable $103,002 current liabili
ties, $227,10 ; cash and current assets, $566.
L ate st E a r n in g s -1 1 m os.) 1898— Gross, $1,345,599; net, $282,287
Jan. 1 to Nov. 30.
5 1897---- Gross, 1,190,065; net; 390,063
A n n ual R e p o r t .—In year ending June 30, 1898, gross, $1,415,559;
net, after taxes, $349,729; interest, $287,137; balance, surplus,
$62,592; in cal. year 1807, gross, $1,314,180; in 1896, $1,170,751.
D ir e c t o r s .—President, W. R . Burt; G. W. Quintard, J. Edward Sim
mons, Franklin B. Lord, R. C. Martin, H. W. Ashley, John Jacob Astor,
R. D. Murray, Charles Burt, William C. McClure, A. W. Wright. Amos
F Eno. D. O. Tate. (V. 62, p. 455,)
A n n a p o li s W a s h i n g t o n & B a l t i m o r e R R . — Owns road from
Annapolis to Annapolis Junotion, 20*s miles. Controlled by the Balt.
A Ann. Short Line, which owns the stock. (V. 64, p. 1223.)
D iv id e n d s — > ’87. ’ 88. ’ 89. ’ 90. ’ 91. ’ 92. ’ 93. ’94. ’ 95. ’ 96.
Ratep. c.
f
5
4*3 4
4^
’ 97
53* 6 % 5 ^ 6*36 41« 414 3 ’
E arnings .—For year ending June 3 0 ,1 8 9 7 , gross, $55,535; net, $14
766; taxes, etc., $4,297; dividends, $5,362; balanoe, surplus, for vear
$5,107. In 1895-96, gross, $59,846; net, $17,990. President (SeDt
1897), J. Wilson Brown, Baltimore. (V. 64, p. 1223; V. 65, p. 410.) "
A r k a n s a s A C h o c t a w R y . —Projected from Ashdown, Ark. to
Atoka, I. T., about 150 miles. In Jan., 1899, operated from Ashdown
to Choctaw City (owned), 23 miles; Texarkana, Tex., to Ashton, Ark
trackage 20 miles; Poteau, I. T., to Bonanza, Ark., lu miles; total 62
miles. Stook, $1,500,000; par, $100; outstanding Jan. 1, 1899, $177000. No bonds had been issued Jan. 1, 1899. Pres.., R. H. KeithSec and Treas., E. E. Riley, Kansas City, Mo.
A r k a n s a s M id l a n d R R . — Owns from Helena, Ark., to Claren
don, 50 miles; Pine City to Brinkley, Ark., 24 miles. Mortgage is for
$516,000, but $216,000 can be issued only in case the entire 86 miles
is laid with 56-pound steel rails. Capital stook, $1,625,000 (par $100 )
Dividends paid: In 1895-6, 1-348 per cent; in 1896-7, -74p. o.- in
1897-8,1-92 p. c. Loans and bills payable June 30,1898, $2,073. ’
E a rn in g s .— 11 months, ) 1898............. Gross, $112,800; sur., $16 013
Jan. 1 to Nov. 30.
51897............. Gross, 108,799; def., 21,417
Year ending June 30, 1898, gross, $133,434; net, $48,604; interest
and taxes, $17,317 ; dividends, $31,287.
A s h e v ille & S p a r t. R y . — See Sp a r t a n b u r g U nion & C o l . R y .
A s h la n d C o a l A I r o n R y . — Ashland to Straight Creek Junotion
Ky., 22 miles. Chesapeake & Ohio has trackage over this road. Capital
stook, $1,494,500. Current liabilities June 30,189 7, $264,428 Year
ending June 30,1897, gross, $121,612; net, $51,584; in 1895-96. gross
$126,811; net, $59,585. Dividends in 1895-96(5 p. 0.), $74.725: in
1896-7, 4 p. 0.; in 1897-8, 4 p. 0.
*'
’
*™
A s t o r ia A C o lu m b ia R i v e r R R . — Astoria, Ore., to Goble and
Seaside, 80 miles; branch, Warrenton to Flavel, Ore., 2 miles; total
82 miles. Stock, $2,000,000; par, $100. Iu 1896 made a mortgage to
secure $8,000,000 100-year bonds, issuable at $40,000 per mile. Cen
tral Trust Co., Trustee. In August, 1896, suit was brought by con
tractors for $241,488, claimed to be due for materials and labor in
building the road. V. 67, p. 426. President, A. B. Hammond, Astoria
Ore.; F. R. Strong, Portland, Ore. V. 66, p. 1000; V. 67, p. 426.
A t c h is o n C o lo r a d o A P a c ific R y . — Owns Waterville, Kan., to
Lenora, Kan., 193 miles; branches, 62 miles.
O rganization —Successor of A. C. & P. RR., foreclosed May 23
1898. Operated by Mo. Pacific in connection with Atoh. J. 0. & W. À
majority of bonds of both the old companies (A. C. & P. RR. and A. T
C. & W. RR.) has been deposited, but in Oct., 1898, no plan o f r e
organization had yet been announced. Chair nan of reorganization
committee, T. Jefferson Coolidge; Secretary, T. K. Cummins, Jr., Room
7, Ames Building, Boston.—V. 64, p. 516, 663.
In year 1897, gross, $514,206; net, $94,795. In year 1896, gross
$335,087 ; def. under operating, $21,373.—(V. 66, p. 952,1043.) V. 67’
p. 577. Pres., T. Jefferson Coolidge, Jr. ; Secretary, T. K. Cummins, Jr.’
A t c h is o n J e w e l l C o u n t y A W e s te r n R y . —Jamestown, Kan •
to Burr Oak, Kan., 33 m. Successor of A. J. C. & W. RR., foreclosed
May 24,1898. See Atohison Cblorado & Pac, V. 67, p. 577.
( T h e ) A t c h is o n T o p e k a A Manta F e R a i l w a y . — (-¿fee Man)—
The system owned and operated July, 1898, comprised 6,946 miles
of railroad, and embraced an unbroken line of track from Chicago
111., via Kansas City, Mo., and Albuquerque, N. M., to California and
the Pacific Ocean, a distance of 2,347 miles; also to Galveston, Tex.
and the Gulf o f Mexico, the mileage of leading divisions beiag :
’
Chicago to Kansas City, Mo.. 458 La Junta to San Diego, Cal.. 1,318
Kan. City to La Junta, Col... 571 Newton, Kan., to Galveston. 750
La Junta, Col., to Denver,Col. 180 Albuquerque,N.M.,to El Paso 254
O r g a n iz a tio n .—This company was organized on Dec. 12, 1895
under the general laws of Kansas, by the purchasers at foreclosure
sale of the property and franchises o f the Atohison T. & Santa Fe RR
Co. in accordance with a reorganization p la n . (V. 6 0 , p. 6 5 8 .)
The railway company holds the title to the railroad from Atciilson
on the Missouri River to the western boundary of Kansas, 471 miles
and also all, or nearly all, the bonds and stook of the various companies
in whioh the title to the other lines is vested. A list of such holdings
is in the general mortgage (inV. 62, p. 732, 733, and successive an
nual reports), the bonds now owned aggregating over $172,000.000
and the stocks over $140,000,000.
For operating and statistical purposes the system is divided as follows:
Miles.
Atchison T. & S. F ........... 4,564-73 Santa Fe Pacific................ 8?8^55
Gulf Colo. & S. F ...............1,087-60 Southern California.......... 488*02
Total of all (less 12-69 miles of joint trackage)....................... 6,946-21
In December, 1898, acquired a t ,par practically all the $2,350,000
of the San Francisco & San Joaquin Valley Ry., which line when
fully completed in 1899 will embrace 384 miles of road and wil?
afford the Atohison an independent connection of its own to Sar
Francisco, an arrangement having been made with the ■'outherr
Pacific for trackage between Mojave, Cal., and Bakersfield, 68 miles,
to connect the systems. See V. 67, p. 817, li.0 6 ,1261, aud official cit*
m YESTO KS’
SUPPLEMENT.
[ Y o l . l x v iii ,
J a n u a r y , 1899.]
RAILROAD
STOCKS AN D
BONDS.
13
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In tb e s e T a b le s .
RAILROADS.
Bond»—Princi
INTEREST OR DIVIDENDS.
' ----------—----------------------------------------------------------- Miles
Size, or
pal, When Due.
Amount Rate per When
For explanation o f column headings, etc., see notes of
of
Par
Where
Payable,
and
by
Stocks—Last
on first page of tables.
i Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Atlanta <6 Charlotte—Stock (see text)......................... 269
$100 $1,700,000 6 in 1898 M. «fe S. N.Y.Cent.Tr.Co.,54Wall Sept.6,’98, 3%>
Pref. M. (old 7s ext. in 1897), see V. 64, p. 286.0* 265^2 1877
1,000
A. «fe O.
500,000
4
do
do
Jan. 1, 1907
1st M. [voting power, 10 votes for each bond] cur. r 2651a 1877
1,000
4,250,000
7 c. J. <fe J.
do
do
Jan. 1, 1907
Income bonds (not cumulative)..............................
1880
500
6
750,000
A. <fe O.
do
do
Anr. 1, 1900
Atlan. K now . <&No. Ry.—1st M., $1,500,000, g Ce 23*0 1897
1,000
1,000,000
5 g. J. <& D. N.Y., Man. Co., 40 Wall. Deo. 1, 1946
2d M., ino., $1,500,000 (trust. R.Est. Tr. Co.,N.Y.) 230 1896
1,000
1,500,000
5
J. <& J. New York, if earned. Jan. 1, 1947"
Atlanta <£ West Point—Stook....... ......................
86
....
100
1,232,200 6 in 1898 J. «fe J.
Atlanta, Ga.
Jan. 7, ’99.3%
Debenture certificates..............................................
1881
1,000
1,232,200
6
J. «fe J.
do
do
Co’s option.
Atlantic Oily—1st M., $2,200,000, gold,_G P .x o '
’ *83 1889
1,000
2,200,000
5 g. M. «fe N. Phila., Read. Ter. Bldg. May 1, 1919
Atlantic Coast Line C o.-Stock, $30,000,000...........
100 10,000,000 4 in 1898 M. «fe S.
Baltimore.
Sep. 10,’98,2%
Ctfs.< >f indebt. $6,000,000, int.if e’med,non-eum.r
1897 100 «fee. 5,000,000
5 our. J. <fe D. In 1898 paid 5 p. 0. Irredeemable.
A tl. Coast L in e It II. o f So. C a r.—Stk $3,000,000
....
100
2,530,000
J. <& J. Check fr Charl’t’n, S.C. Jan.10,’99,2%.
Preferred, $¿,00 ,00i>, 6 per cent, non-cum........
100
1.883,800
6
J. «fe J.
do
do
Jan.10,’99,3%
Cheraw & Darlington, 1st M., $40i>,000, g ..S B a
66 Ì8«*8
17,000
5 g. A. «fe O. Ch’ston, People’s N.Bk. Apr. 1, 1938
Manchester & Augusta, 1st mortgage, gold___c’
65 1893
1,000
37,000
5 g. J. «fe J.
do
do
Jan. 1, 1943
North-Eastern (S. C.), 1st mortgage................ M.c 102 1869
500
820,000
M. «fe S.
8
Charleston, Office.
Sept. 1, 1899
2d mortgage........................................................... o 102 1869
500
322,000
8
M. «& 8.
do
do
Sept. 1, 1899
Consol, mortgage, gold........................................e 102 1883
1,000
694,000
6 g. J. <fc J. N. Y., Cuyler M. <&Co. Jan. 1, 1933
Wilmington Columbia <fe Augusta, 1st m ort..
192 1880
1,000
1,600,000
6
J. <& D. New York <feBaltimore. June 10,1910
Atl. Coast L., gen 1st M., $8,000,000, g .S B a .c* 674 1898
1,000
3,801,<00
4 g. J. «fe J. Balt., Safe D. <&Tr. Co. July 1, 1948
A tla n tic Coast L in e H R . o f V irg in ia —Stock..
....
100
3,000,000 3 Jan.’99 J. <fe J.
Richmond, Office.
Jan., ’99, 3%
Petersb’g, guar. pf. stock, 3 p. o. lien prior to M. ” 59
100
323,500 7 in 1898 J. <fe J.
Richmond.
Jan. 3 ’98,3 ia%
Mortgage bonds, class A, g o ld ............................
59 188*1
1,000
868,000
5 g. J. «fe J. Riohm’ d and Petersb’g. July 1, 1926
Mortgage bonds, class B, gold.............................
59 1881
1,000
800,000
do
do
Oct. 1, 1926
6 S■ A. «fe O.
Riehm’a <&Petersb., 1st mort. ($24,500 are 7s)..
23 1875 500 «fee.
340,500
6 <&7 M. «fe N.
Richmond, Office.
May 1, 1915
Consolidated mortgage for $1,000,000, gold.o*
27 1890
1,000
300,000
4*2 g. A,. «fe O. N. Y., Brown Bros.
Apr.
1, 1940
Atlantic Coast Line RK. of Va., new M. of 1899.
1899
0)
Atlan.A Dan.—Pf.stk., $3,200,000,non-cum., 5 p.o.
......
3,099,200 1 in 1898 Text.
Norfolk, Va.
Sept.
1
,9 8 ,1 %
1st M., $1,500,000, gold, redeemable....... ffle .x c
278 1895
1,000
1,238,000
5 g. J. «& J N. Y.,Mer.Tr.,«feLondon. Jan. 1, 1950
Atlantic <fi No. Carolina—Stock, $1,800,000.............
100
1,797,200 2 in 1898
Check from Co.’s office. Dec.22,’9 8 ,1%
1st M., $325,000........................................... M e B a
1887
1.000
325,000
6
J. «te J. Balt.,Nl.F’rm’rs’ «feP.Bk July 1, 1917
cular V. 67, p. 841; also V. 67, p. 1335. In Jan., 1899, acquired the
Wichita & Western,
St o c k . —The preferred stock has preference as to dividends and
assets, and entitles the holders to non-oumulative dividends after
June 30,1896, not exceeding 5 per oent per annum, as declared by the
board of directors out of net profits. No other mortgage and no
increase in the preferred stook can be made without the consent of a
maiority o f all the preferred stook and of all oommon stook repre
sented at a meeting. The total authorized amount of preferred stook is
$131,486,000, of which $20,000,000 reserved. To acquire A. «Sc P.,
Western Division, $9,200,000 of this $20,000,000 preferred stook was
issued in Maroh, 1897, but $6,346,470 held under special trust, leaving
amount aotualiy outstand ng in Oot., 1898, $114,199,530. Pref. stook
certificates in S upplem ent of April, 1897, page 3.
D iv id e n d .—First dividend on preferred, 1 per oent, paid Jan. 26.
1899.—V. 67, p. 1307.
B onds .—The new General Mortgage (A b s t r a c t Y. 62, p. 731-739) is
made to the Union Trust Co of New York as trustee, and gives a lien,
either by direct mortgage or by collateral trust, on the entire system
o f 6,946 miles of railroad, together with all the equipment and ter
minals owned by the company, and future acquisitions, subject
only to liens on certain equipment for about $1,000,000; to $1,500,000
o f Chicago <fe St Louis RR. Co. bonds (secured by lien on about 150
miles in Illinois), and to the remaining outstanding bonds of certain
controlled companies, amounting in the aggregate to about $693,210.
General mort. bonds oan never exceed $L65,490,500, including $96,990,500 issued in reorganization and.remainder reserved as follows:
,-------- Reserve!.-------- ,
In 1895.
In 1898.
a To retire guarantee fund notes oaid and ear trusts at
not exceeding $1,250 io r each $1,000 o f o 'd bonds__ $15,500,000 $3,366,000
b N on assenting bonds from reorganization o f 18^9
($1,660,950, since reduced to $693,210).......................... 1,500,000
c Chicago <fe St. Louis 1st mortgage 6s................................ 1,500,000
F or im prov’ts, terminals, second track, equlp't, etc.,
under carefully guarded restrictions at not exceeding
$3,uoo,"0o yearly, o f which not over $750,000 for exten
sions ..............................
...................................... .......... 30,000,000
F or acquisition o f A tlantic & Pacific and other lines........ 20,000,000
634,000
1,500,000
26,377,000
9,289,000
O ff icers .—Aldaoe F. Walker, Chairman of the Board ; E. P. Ripley
President; E. Wilder, Secretary and Treasurer.
O f f ic e .—59 Cedar Street, New York. (V. 66, p. 1139 ; V. 67, d 123
2 7 1 , 426, 528, 5 7 6 , 6 3 1 , 635, 6 4 1 , 688,150, 841, 1261, 1307,1355.)
A t l a n t a & C h a r lo tt e A ir L in e t t y .—(See Map Southern Rail
way System.)—Owns Charlotte. N. O., to Atlanta. Ga.. 269 miles.
• The operating contract of 1881 (made with Richmond <& Danville)
was assigned to and accepted by the Southern Ry. Co. It requires
the payment of interest on At. <fc C. debt and 5 p. 0. on stook ; if gross
earnings exceed 151,500,000, dividends to be 6 per oent ; and if thev
exceed $2,500,000, 7 per cent.
D iv id e n d s , ) 1881 to 1889. 1890.'
1891 to Sept., 1898, inclusive
Per cent— J 5 yearly.
5^
6 yearly (M. <fc S.)
E arnings .—J an. 1 to Sept. 30 (9 months), gross, $1,261,821 in 1898
$1,213,023 in 1897. Calendar year 1897 gross, $1,666,319; in 1896*
gross, $1,598,047. President, Charles S. Fairchild, N.Y. - ( V . 64, p .286.)
A t l a n t a K n o x v i l l e Sc N o r th e r n R y . —R o a d —Owns from K nox
ville, Tenn., to Marietta, Ga., 205 miles ; and Murphy to Blue Ridge
25 miles; trackage, Marietta, Ga., to Atlanta, Ga., 20 miles.
*
H is t o r y .— A reorganization per plan in V. 62‘, p. 1040, of the Marietta
& North Georgia, foreclosed. Stock, $3,000,000. First mortgage bonds
for $500,000 in treasury June 30,1897; bills payable, $47,969.
E arn in gs .—11 months, ( 1898 ...........Gross, $296,585; net, $63,543
Jan. 1 to Nov. 30.
( 1897............ Gross, 263,480; net, 59*747
In year 1897, gross, $290,865; net, $73,651. In 1896, gross, $281,688
O f f ic e r s .—President, H. K. MoHarg, 40 Wall St.,N. Y.; V. 65, p. 69.
A t l a n t a <fc W e st P o in t R R . — Atlanta, Ga., to West Pt., Ga., 86 m.
St o c k .—The Ga. RR., on Deo. 31,1897, owned $194,500 of the stook
and $388,900 of the debenture certificates.
D iv id e n d s begun in 1855 were for many years 8 percent per annum
From July 1,1884, to Jan., 1899, inclusive, 6 per oent yearly, J«fej.
E arnings .—5 months, ( 1898............. Gross, $257,995; net, $114,560
July 1 to Nov. 30. (1 8 9 7 ............. Gross, 243,530; netj 106,617
In 1897-8, gross, $575,262; net, $227,497. In 1896-7, gross $554
446; net, $219,830; other income, $13,019; interest, $73,932; taxes
$18,707; divid’ds, $73,932; “ sundry acoo’nts,” $64,711.—(V .65,p.ll72.)
A t l a n t ic C it y R y . —Oamdento Atlantic City, 57 m. (double tra ck )•
branches, 25 m.; leases South Jersey RR., Winslow Junction, to Cane
May,
J., ©to., 66 miles; total, 148 miles. St o c k , oommon, SI.200 000*
preferred’ $1,000,00 (par, $50), of which $1,195,000 oom m on’ and
$998,550 preferred owned by Reading Co. are in trust under its general
mortgage of 1896. In April, 1898, leased the South Jersey RR In
year 1896-7, gross, $782,168; net, $207,683; charges. $ 2 6 4 , 2 4 8 bait
ance, deficit, $56,568. In 1895-96, gross, $889,752.—V. 66, p. 761.
A t l a n t ic C o a s t L in e C o .— This company, organized May 29
1889, under the laws of Connecticut, own * a majority of the capital
stook and a large amount of the bonds in a system of railroad com
panies denominated for convenience the Atlantic Coast Line Svsr,em
The system includes about 2,330 miles as folio ws.
3
Company—TfSee this Co. Miles. _ Company—
Miles.
Riohm. Fredkb. <fe PotomaolT.. 86 Norfolk <fe Carolina 11.......... ....1 1 0
Wilmington <&Weldon U........... 609 Atlantic CoastLiue R R. of Vali ..39
Atlantic Coast Line RR. of
Cape Fear <fc Yadkin Valley 338
8. C.1T.......................................6 7 4 Other lines................................... 50
Central South Carolina if.......... 40
ITSee this company.
Chas, «fe Western Carolina....*342
* Purch’d Dee.,’97—V. 66, p. 38.
May’ l 8.9! ’ $6,000,000 of certificates of indebtedness
entitled to 5 per cent interest if earned, were created, of which $5 000 000 were issued to reduce capital stook from $10,000.000 to «VnoiV
000 As to the rights of these certificates, see wording in e lit o 5 £ i'
October. 1897, S u ppl em en t , page 3.—V. 65, p. 564 In N ov m s
stock was increased to $10,00i>,000, the additional $5,000,000 being
distributed as a 100 per oent dividend to represent accu iW a ted profit!
and increased value of assets.—V. 67, p. 954.
^
“
DiVIDENDS-18 9 5 , lifl per cent; 1896,3; 1897,3)2; 1898 4 and io n
per cent in stook.
’
u
G u a r a n t y . Guaranties $960,000 Manchester «fe Augusta firsts p.«fe i.
S ec u r it ie s O w n ed .—May 28, 1897
stocks
««. •> oqo v . .
$2,206,0 00; other bonds, $518,441. (See list V 6?5, p 564j
’ b° nda
,
year 1896, gross earnings $562,647; net $550
In 1895, gross, $417,408; net, $405,631.—V. 67, p! 9 5 4 ,1355. » 0 , 2 8 7 .
The Adjustment Mortgage ( A b s t r a c t V. 62, p. 739) is to the Central
Trust Co. as trustee. Interest is payable only out of net earnings
for the fiscal year up to 4 per cent and the rate is to be
determined on or belore October 15 in each y e a r ; interest
is non-cumulative till July 1, 1900, and cumulative thereafter.
Present issue is limited to $51,728,000, but when the $30,000,000 gen
eral 4s authorized for improvements as above have been issued (i. e.,
not before June 30,1905), $20,000,000 additional adjustment 4s may
be issued for the same purposes at not exceeding $2,000,000 in any one
year, but only by a maiority vote of the adjustment bondholders. In
terest—la. Nov., 1897, paid 3 p. c.: in Nov., ’98, full 4 p. c. V. 67, p. 528.
San Francisco & San Joiquin bonds, see facts in that co’s. statement.
G e n e r a l F inances .—In Maroh, 1897, the company purchased the
Atlantic <& Pacific, Western Division, 566 miles (now the Santa Fe
Pacific RR., covered by the Atchison’ s general mortgage), and acquired
the lease of the Mojave Division, 240 miles (owned by Sou. Pacific) in
exohange for long leases of the Sonora Ry. and New Mexico & Ariz. RR.
The guarantee fund notes due November l were retired by the
issue o f $10,103,000 general mortgage bonds, thereby obviating the
necessity of issuing prior lien bonds. In July, 1898, $3,801,000 gen
eral mortgage bonds were listed, having been sold to reimburse the
treasury for cash expenditures theretofore made. (V. 67, p. 123, 2 2 1.)
In Deoember, 189 3, the $2,474,800 capital stook of the San Francisoo
<fe San Joaquin Galley Ry. (which se-i) was purchased at par. The
new road embraces about 384 miles of railway, and will be fully com
pleted in 1899 fr >m the proceeds of its stock and $6,000,000 bonds
already sold. It will afford an independent connection with San
Francisco. At present the San Fr. & 8. J. is completed to Stockton and
has connection with San Francisco by water. 8ee V. 67, p. 817, 841,
1355. Atchison paid first dividend, 1 p. o., on preferred Jan. 26,1899.
L atest E arnings .—5 m os.,) 1898..Gross, $17,200,859; n et,$4,968,131
July 1 to Nov. 30.
) 1897..Gross, 16,816,651; net. 5.113,009
Deducting taxes and rentals, balance for interest in 5 months of
1898 was $4,258,806, against $4,401,101.
R e p o r t .—Annual meeting second Thursday in December. Report
for year 1897-8 was given in V. 67, p. 576, 641; see also page 612.
Tears ending June 30—
1898.
1897.
1896.
Miles of road operated...........
6,946
6,479
6,435
Gross earnings................
$39,214,101 $30,621,230 $28,999,597
A t l a n t i c C o a s t L in e R R . o f S o u t b C a r o lin a —Dcvns
Operating expenses............... 28,506,336
22,867,189
22,071,275 Florence to Charleston and Columbia, S. C., with branches in ^ llf 674'
m6es;
leases Central RR. of so. Carolina 41 miles; to“al operated 715
Net earnings................................................ $10,707,765
$7,754,041 $6,928,322
Nov., 1668’ contract reported let for extension from Den
1880-97.
1897-98. |
1896-97.
1897 98.
mark,
S.
O., to Robbins, on Charleston «fe West. Car., about o4-7 miles
Net earnings.... $7,754,041 $10,707,765 T a x e s ,e tc............$1,947,237
$2,007,216
A consolidation, July 16,1898, of the following companies controlled'
Other in co m e .... 254,499
182,0281In terest............ 4,608,858
4,992,148
by the Atlantic Coast Line Co., viz.: Wilmington Columbia <fe Aucusta.
N et in c o m e ....$8,0''8,540
$10,889,793 |Bal.,surp........... $1,452,445
3 89 ) 439 RR.. Northeastern RR. of South Carolina, Cheraw & ^ r lf n g t o n gRR
Surplus fo r year to June 30,1 89 7 ................................................................
’$521220 Manchester <fe Augusta R R „ Florence RJR.—V. 64, p. 663, 887
RB”
Total surplus June 30,1898.................................................. ................ $3,949,049
D iv id e n d s .—On common, 2 p. c. and preferred, 3*p. 0., Jan. 10,1899
Div. (4%) on adjustment mortgage incom es (N ov. 1. 1898).................... $3,053,840 . ®P£pA~Thc new 4 per oent general mortgage o f 1898 is for
Balance, surplus fo r vear over inoome interest........................................ $1,888,809 000,000, the Baltimore Safe Deposit «&Trust C a betogtrustce. Of the
14
INVESTORS’
SUPPLEMENT
RAILROADS.
INTEREST
MUes Date Size, or
Amount Rate per When
For explanation o f column headings, &0., see notes
Par Outstanding
of
of
on first page of tables.
Road. Bonds Value.
Cent. Payable
Atlantic A Si. Lawrence— Stock, 6* rental Grand Tr’k 150
Atlan.S. Riv.A G.— 1st M.g.,s.f.,$8,000p.m.,red.l05
Atlantic Valdosta <6 IF.—1st M., g., red. a tl0 5 .C e.o
Augusta A Savannah—Stock 5* rental Central G a ..
53
Augusta So.— 1st consol. M., go.,gu.,p.&i. end.Ce.xo
85
A ustin A Northwestern—1st mort.g.,gu.p, &i.Ac*<fcr 103
Avon Geneseo A Mt. Morris RR.—Stock ("see text)...
Bald Ragle Valley—-Stock, $2,000,000.......................
1st M. orig. $400,000 (s. f., drawn at 100).. .F P x r
90
Baltimore A A nnap.S.L.Stodk, common......... .........
1st M. $400,000, g., subj. to call at 110..,. .M e B a 1
28
Baltimore Ohesapeake A Allan. — 1st mort., goldAc*
89
B a ltim o re & Ohio — Stock........................................
1st and 2d pref. stock, cum., $3,000,000 is 1st pref
Reo. lease warrants B. & O. Equip.Co. (5 issues)
Do. certificates, seoured on car floats ($56,000)
Equip, lease war. Ak. & Chgo. Jo. (V. 64, p. 328)..
Loan due in 1880. extended, payable at w ill........ 380
Loan, 1853, extended in 1885, gold.....................
380
Mortgage 1872, sink, fund £12,000 semi-annually 422
Mortgage 1874, sink, fund £9,000 semi-annually. 422
Bond to"City Baltimore (payable $40,000 y e a rly ). 380
Consolidated M (for $29,600,000) g.. M e B a ..c* ’i r 521
Loan, 1877 (s. f. dr’n at 100) (B.& Ò.&Ch.bds.ool’Dc 263
N. W. Virginia RR. 1st M. (ext. in 1888) assum.c )
B. Sc O.loan 1879 (Parkersb’g Br. oollat., cur.).. ( 104 ^
Mort. on Phila.Br., Balt. Sc Phila. bds.asool.......xc 108
Wash C.& P.L. (Alex.Br.) 1st M.g.s.f .$36,000 p.an.
12
Plttsb. Sc Connellsville 1st mort., 7s.....................
147
do Extended in 1896 in gold. V. 62, p. 1178.
Consol. M.. g., p.& i. guar. (s. f. £7,200 per yr.). 147
1895
1897
1894
1891
1880
1898
1894
1897
1897
1897
1853
1853
1872
1874
1875
1887
1877
1855
1879
1883
1873
1868
1868
1876
[V ol, LXVIII.
Whom.
Bonds—Princi
pal,When Due.
Stocks—Last
Dividend.
£&$100 $5,484,000
6
M. Sc S. London and Portland. Sept.,1898,3%
1,000
200,000
Jacksonville, Fla.
5 g- J. Sc J .is
Jan. 15, 1945
1,000
468,000
5 g. M. Sc S. N. Y .f Central Trust Co. Mar. 1, 1938
$100
1,022,900
5
J. & J.
Savannah, Ga.
Jan 5,’99,2i$%
1,000
ii400,000
5 g- J. & D. N. Y., lh Broad St.
Deo. 1, 1924
1,000
1,920,000
5 g. J. & J. N. Y., Cent. Trust Co. July 1, 1941
100
225,000 2*2 to 3*2 J. & J. New York, Erie RR.
Jan. 1, 1899
50
10
1,535,000
F. & A.
Aug. 1, »98,5%
1,000
328,000
6 our. F. Sc A. Phila., F. Ins.Tr. &S.Dep. Jan. 1, 1910
100
358.000 6 in 1898 J. & J.
Jan. 2, »99 3%
1,000
325.000
5 g. J. Sc D. Balt., A. Brown Sc Sons Deo. 1, 1923
1,000
1,250,000
5 g. M. & H. NewYork,29William St. Sept. 1, 1934
100 25,000.000
Nov. 15,1894
100
5,000,000
J. Sc J. Jan., ’96, div. last paid. Jan. 2, »96, 3%
2,345,550
5
Various
Part annually
57,600
5
1900
462,600
6
$11.565 qua’ly
500 &o.
359,000
4
J. Sc J. Balt. Of., Central Bldg.
At will.
500 &o.
4 g. A. Sc O.
1,660,500
do
do
Oct. 1, 1935
£100
9,301,512
6 g. M. Sc 8. London, Baring Bros. Moh. 1, 1902
£200
9,634,504
6 g. M. Sc N. Nov., ’97, coup, last pd. May, 1910
200,000
6
J. Sc J.
Baltimore, Office.
July, »98-1900
1,000 11,988,000
5 g. F. Sc A. N. Y., Union Trust Co. Feb. 1, 1988
£200
6,690,048
5 g. J. Sc D. June,’97, pd. Oct. 1,»97 June 1, 1927
$1,000
132,000
6
J. & J. Baltimore, B. Sc O. RR. Moh. 1, 1902
1,000
3,000,000
6 cur. A. Sc O. Oct., ’97, coup, last pd. Apr. 1, 1919
£200 11,616,000
4 ^ g. A. Sc O. Apr. ,’97, coup, last pd. Apr. 1, 1933
1,000
540,000
6 g. J. Sc D. |Dec., ’ 95, coup, last pd. June 1, 1913
1,000
7
1,419,000
J. & J. Jan.,’98, coup, pureh’d. July 1, 1898
1,000
4 g. J. & J. N. Y., Vermilye & Co. July 1, 1946
2,581,000
£200
6,648,224
6 g. J. Sc J. Jan., ’97, coup, last pd. Jan. 1, 1926
authorized issue $709,000 were on Jan. 10,1899, reserved for im shares of its stock, all pledged under the mortgage. Common stock
provements, extensions, etc, and the balance unissued ($3,490,000) to issued $358,000; there is also $500.000 of preferred stock authorized.
retire, $ for $, at or before maturity, the underlying bonds. All except Of the bonds $75,000 were reserved for future requirements. V. 67,
$54,000 o f the $2,895,000 old 4s and 5s have been exchanged for the p. 1159. Dividends—In 1898, Jan.,3 per cent; July, 3 p. ot.; in 1899,
new 4s and common stock.—Y. 67, p. 954.
Jan., 3 per ot. For year ending June 30,1897, gross earnings, $72,575;
Combined earnings of roads consolidated : For year ending June 30, net, $13,768. In 1895-96, gross, $86,456.—V. 67, p. 1002,1159.
1898, gross, $1,974,968; net, $628,911. In 1896-7, gross, $1,754,802;
B a l t i m o r e C h e s a p e a k e Sc A t la n t ic R y . —Owns Claiborne to
net, $017,893. President, C. S. Gadsden, Charleston, S. C.—Y.67, p. 954. Ocean
City, Md., 87 miles; branoh, 1 mile; total, 88 miles; from Clai
A t l a n t i c C o a s t L i n e R R . o f V i r g i n i a . — Owns Richmond to borne to Baltimore, 42 miles, transfer is made by water.
Petersburg and Garysburg, N. C., with branch, 5 miles, total, 87 miles;
H is t o r y .—A reorganization in 1894 of the Balt. & Eastern Shore,
also leases Garysburg to Weldon (Seaboard Sc Roanoke) 2 miles. Char sold Aug. 29,1894 (V. 59, p. 371), the Maryland Steamboat Co., Eastern
tered in March, 1898, under special A ct of Virginia Legislature as Shore S. B. Co. and Choptank S. B. Co. Fifteen boats are owned.
a consolidation of the Petersburg RR. and the Richmond & Petersburg
Sto c k s .—Pref., $1,500,000 5 p. c. cumulative; common, $1,000,000.
RR. The combined earnings of the roads consolidated were: For year
A nnual R e p o r t .—Report for year ending August 31, 1897, w as
ending June .-iO, 1898. gross, $1,021,258; net. $472,058. In 1896-97, given
in V. 66, p. 284, showing gross, $489,005; net, $83,800;
gross, $954,157, net, $407,776.—V. 67, p. 1264; Y. 68; p. 128.
charges, $62,500; bal., surp., $21,300. In 1895-96 gross; $497,707;net,
A t l a n t i c & D a n v i l l e R y . — Completed Feb., 1890, West Norfolk, $88,509. President (April, 1898), Johns. Wilson.—(V. 66, p. 2 8 4 ,3 3 4 .)
to Danville, Va., 205 miles, three branches, 22 miles, and James River
B a l t i m o r e * ; L e h ig h R y . —Yarrow Gauge.—Baltimore to Cardiff
Junction to Claremont (3 feet gauge) 51 miles; total, 278 miles. In
Dec., 1898, a 5-mile branoh was under construction. Successor to Md.,43 m. Stock,$850,000; p a r,$100; issued, $843,500; m ort.,$85,000
E arnings —Year ending June 30,1898, gross, $131,857; net $35,Railroad foreclosed April 3,1894, per plan Y. 58, p. 815.
8 took .—Common, $2,500,000; non-cum. 5 per cent pref. $3,200,000. 271; charges, $11,329: surplus for year, $23,942.—V. 63, p. 227.
B a lt im o r e A O h io R R .—(SeeMap).—R o a d .—Operated from Balti
Issued to June 30,1897, common, $2,179,800; preferred, $3,099,200.
more to Philadelphia and Baltimore to Chicago, and has, via the Balti
D ividends .—On preferred 1 p. c., 1897 ; 1898, Sept. 1 ,1 p. c.
more & Ohio 8. W., a direct route to Cincinnati and St. Louis, the total
B onds.—The bonds are subject to call at par on 6 months’ notice. mileage leased, owned and operated ('excluding the Bait. & Ohio South.
See application for listing on N.Y. Stock Exchange in V. 62, p. 1141.
western) being in July, 1898, 2,047 miles, of which 774 miles are west
L atest E arnings .—4 months, 11898..Gross, $181,459; net, $39,819 ®ud 1,273 miles east o f the Ohio River. The “ Royal Blue Line *» (see
July 1 to Oct. 31.
51897. Gross, 179,761; net, 48,992 Central RR. of N. J.) enables it to reach New York, near which, on
A nnual R eport .—In 1897-98, gross, $564,751; net, $159,353; in Staten Island, it has freight terminals. See 8. 1. Rapid Transit.
-Also operates the Valley RR. of Virginia, 62 miles, controls Cleve
terest, $61,900; balance to imp’t account, $97,453.—V. 66, p. 79.
land Terminal & Valley Ry. and is interested in the West Va. & Pitts
A t l a n t i c & L a k e S u p e r i o r R y . — In Dec., 1898, operated from burg (see that 00.). Baltimore Belt line (tunnel line in Baltimore) was
Metapedia, Que., to West Paspebiac, 98 miles ; St. Grégoire to Nicolet, opened May 1,1895. (V. 60, p. 258, 794.)
Under the scheme of reorganization below the reorganized company
7m .; St. Francis to Yancaska, t> m.; Yancaskato Sorel, 10 m.; Laohute
to St. Andrews, 7 m.; total, 128 miles. Also under construction, West w ill own and operate about 2^968 miles of roads, subject to the several
Paspebiac to end o f wharf, 4 m.; Paspebiao Juno. to Port Daniel, 21 m.; mortgages, as follow s:
Prior li n
M.—(1,017 m iles) Miles.
Pitts. Ju/nc. 816* M.—(384 miles) Miies
Pierreville to Nioolet, 15 m ; at. Grégoire to Chaudière Juno., 67 m.;
heeling, Beipre, O., etc. ..683 I Bellaire to Midland City, O........ ) 0« ,
total, 107 miles. Stock authorized. $10,000,000; par, $100; issued, Balt, to W Division
(east o f P itts .)..334 I Shawnee to Sandusky, O ............) a' '
(I). Bonds, $20,000,000 4s, none issued to Dec., 1898. President, Pittsburg
1st M. i %.—(570 mile*)
Pittsburg Junction RR ...........
7
Hon. J. R. Thibaudeau; Sec., Edgar N. Armstrong, Montreal, Que.
Baltimore to Philadelphia and brs.118 |
I Uniter .south, W. Div. 3)6* M —
A t l a n t i c Sc N o r th C a r o lin a R R . —Morehead City to Goldsboro Chicago, 111., to A kron 0 ................... 359 Beipre, O., via Cincin, to St. L., etc. 921
to Fa'rm ount.W . V a.,etc. 93 I
N. 0., 95 m. State of No. Car. owns $1,266,500 of the $1,797,200 stock Branches
T otal o f all (adding Baltimore Belt and m iscellaneous lin es)..................... 2,968
DIVIDENDS.— ) 1892. 1893. 1894. 1895. 1896. 1897. 1898.
H is t o r y , L eases , &o.—Chartered in Maryland Feb. 28,1827, and in
Per cent. $
2
2
2
0
2
2
2
Virginia March 8,1827. First section opened May 24,1830.
E arnings.—For year ending June 30,1898, gross, $174,508; net,
R e c e iv e r s h ip .—Feb. 29, 1896, President, John K. Cowen and Vice$80,¿>17; charges, $33,694; dividends, $35,907: balance, surplus, for» President Oscar G. Murray were made receivers.—(V. 62, p. 455.)
year, $10,716. I n 1895-6, gross, $140,657; net, $58,170.—V. 61, p. 470.
N e w P arties I nterested . - I n September, 1898, Philip D Armour,
A t l a n t i c V a ld o s t a Sc W e s t e r n R y . — Opened for operation in Norman Ream, the executor of the Pullman estate; Marshall Field,
April, 1898, from Haylow,Ga., to Crawford, Fla., 71 miles. In Jan., James J. Hill, the President o f tue Great Northern Ry., and others,
1899. proposed to extend the road from Valdosta to Albany, Ga., 70 acquired a heavy interest in the property. See V. 67, p. 577, 632.
miles. Road r = ns through a timber section, and when completed will
R eo rg an ization P lan . The plan of reorganization for the B. &
make a short route from Valdosta (on Ga. So. & Fla. Ry.) to Jackson
ville, Fla.—100 miles. Capital stock, $1,000,000. Mortgage is for O. proper, issued in June, 1898, was published in the Ch r o n ic l e ,
V.
6 6 , p . 1 2 3 5 . The reorganization managers are Speyer Brothers o f
$2,500,000. G. 8. Baxter Sc Co.. 18 Wall St.. N. Y.. are building the
London, and 8peyer & Co. and Kuhn, Loeb & Co. of this city, acting in
line.—V. 66, p. 183,758.
conjunction
with an advisory committee composed of Louis Fitzgerald,
A u g u s t a Sc S a v a n n a h R R . — Mill en to Augusta, Ga., 53 miles E. R. Bacon, Henry Budge and William A. Read of the reorganization
In 1895, re-leased to Cen. of Georgia at 5 p. c. on stock.—V. 61, p. 239 committee, with Alvin W. Krech [120 Broadway] as Secretary and
A u g u s t a S o u t h e r n R R . — Owns from Augusta to Sandersvill
William C. Gulliver as Counsel. The depositories are the Mercantile
Ga., 80 m. (standard gauge), and Sandersville & Tennille RR., 4 miles.) Trust Co. in this city and the London & Westminster Bank, limited, in
Leased in March, 1897, in perpetuity to the South Carolina & Georgia, London. Over 97*2 per cent of the bonds and over 95 ^ per cent o f
which guarantees the bonds, principal and interest, by endorsement. the stocks deposited and final instalment of assessments (25 per cent),
(V. 64, p. 468.) On Sept. 16,1898, James U. Jackson, Pres’t of Aug. was payable Oct. 10,1898.—V. 67, p. 690. The plan provides for the
So., and J. H. Sands, Gen.Manager of S. C. & G.. were appointed co-re- immediate retirement of all direct obligations. Various leased lines
oeivers pending a decision in the suit to annul the lease.—V. 67 p. 528. were left for subsequent treatment, and these were covered by the
Common stock, $400,000 ; pref., $350,000; par, $100. Oct., 1896, car p la u given on page 6 8 8 of the C hro nicle for Oct. 1,1898, while
trusts, $32,000. For year 1896-97, gross, $84,580. -(V . 67, p. 528.)
, the securities of the Baltimore & Ohio Southwestern System were cov
A u s t i n Sc N o r t h w e s te r n R R . — Owns from Austin to Llano ered by the p la n in V. 67. p. 1 2 6 1 , 1 2 6 2 . AU three plans are em
Texas, 99 m.; branch, Fairland to Marble Falls, etc., 8 miles. Stock braced below. They provide that the reorganized oompany shall oreate:
(1) Prior Lien 3^ % Gold Bonds Due 1925, to bear interest from
$1,016,000; par $100, of which the Southern Paoido Company owns
$1,008,000. The land grant was 600,000 acres. The 5 per cents are July 1, 1898, a first lien on the main line and branches, Parkers
for $20,000 per mile; p. and i. guaranteed by Southern Pacific Co burg branch and Pittsburg division, in all about 1,017 miles of first
In Dec., 1898, Houston & Texas Central was proposing to purchase, track, and about 964 miles of seoond, third and fourth tracks and sid
the line. See V. 67, p. 1309. Year 1897-98, gross, $154,592; net, $15,353. ings, and also all the equipment now owned of the value of upwards of
$ 20,000,000, or hereafter acquired.
«8 RIM
A v o n G e n eseo Sc B it. M o r r is R R . — Mt. Morris to Avon, N. Y., Total authorized issue in no case to exceed..........................$75 OOO 000
18 miles. Leased to Erie RR. Feb. 26,1896, in perpetuity at 2*3 p. e.
Of which to be issued only after Jan. 1, 1902, at not ex’
’
on stock for 4 years from Jan. 1 ,1 8 9 6 ,3 p. o. for 1 year more and 31«
ceeding $ 1,000,000 a year, for the enlargment, better
p. 0. thereafter.—(See V. 63, p. 512 ; V. 62, p. 318, 589.)
ment or extension of the properties covered..................
< 000 000
B a l d R a g le V a l l e y R R . — Owns from Vail Station, Pa., to Look
Present issue limited t o .......................................................7 0 ,0 0 0 ,0 0 0
haven. Pa., 51 miles ; branches to Sugar Camp, etc., 39 miles
Of which toward retirement o f existing bonds.................
60,07? oao
Leased to Penn. RR. Co. for 99 years from Dec. 7, 1864. Rental, 40
For purchase by reorganization syndicate........................
0,000000
per cent o f gross earnings. Rental 1897, $179,144; other income For contingencies (any surplus to new company) ..........
926 qio
$6,284; int., taxes, etc., $40,835; dividends (10 p. 0.), $140,625; bal.,
First Mortgage 4 p er cent Gold Bonds, Due July 1 1 Q4S, but subject
sur. for year, $3,968. Rental in 1896, $175,617. Pennsylvania RR to(2)
call,
in
whole
or
in
part,
after
July
1,
1923,
at
105.
These
bonds
Jan. 1,1898, owned $706,250 stock.—V. 66, p. 708.
will bear interest from July 1 ,1 89 », and be seoured by a first lien on
B a l t i m o r e Sc A n n a p o li s S h o r t L i n e R R . — Owns road from the Philadelphia, Chicago and Akron divisions and branohes and the
Cliffords to Annapolis, Md., 23 miles. In 1897 acquired control of Fairmount Morgantow n <fe Pittsburg RR., covering about 570 miles o f
Annapolis Washington & BaltimoreRR. Co., owning 3,575 out of 3,580 first track and about 332 miles o f seoond, third and fourth tracks «-M
BONDS.
AND
STOCKS
BAUBOAD
J aküaby, 1899.J
16
INVESTORS’
SUPPLEMENT.
I Vol. L X V m .
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d I n th e s e T a b le s .
RAILROADS.
For explanation of column headings, Ac., see notes
on first page of tables.
Baltimore «$ Ohio—( Concluded)—
B. AO. l*n,’ 85,g. (Pitts. A Conn.bds.as col.iU n c’ Ar
. 1st Terminal mortgage, gold (see text)..........c*
Equip, trust, Series A, (See V 66, p. 1236)___
Do. do. 8er.B.,$200,000 due y’rly Nov. l.o
Oar trust (extended in 1897 for 3 years) M e. H a.
B. A O. Eq. Co. ear trusts. (See also V. 63. p. 152)
Sohuyl. R. East Side RR. 1st M., g. (guar.)..
Akron A Chic. Juno. 1st m., gold, int. g u ........ c
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or Amount
pal,When Dne.
Par Outstanding Rate
of
of
When Where Payable, and by Stocks—Last
Road. Bonds Value.
Per cent. Payable
Whom.
Dividend.
147
_
....
T i
51a
73
NEW SECURITIES TO BE OUTSTANDING UNDER PLANS
1885 $1,000 $ 10,000,000
1,000
1894
8.500.000
1,000
1889
400.000
1890
1,000
1,000,000
1,000
1887
n250,000
237,197
i.ooo
1886
4.500.000
1,000
1889
350.000
1,000
1890
1.500.000
100
100
1898
1898
1898
1899
1890
1,000
1,000
1886
1,000
1869
1,000
1889
1,000
1868
1871
1,000
1,000
1875
1883
1,000
j
’87-’91 1,000
909 1893 1,000Ac
909 1893
1,000
,
1892
1,000
.... 1896 1,000
1897
n. 4*2 % M. ojf a $14
Stock, authorized $45,000,000..............................
Pref. stock, 4 p. c., non-cum, auth. $60,000,000..
Prior lien mortgage, gold, not subject to call...... 1,017
1st mortgage, gold, red. at 105 after 1923.......... 570
B. A O.,Pittsburg June. A Middle D ivisionlstM . 385
Southwestern Div. 1st M., $45,000,000, gold___ 921
Balt. Belt., IstM ., gold, red. at 100__ M e B a .c '
7
11
Schuylkill River East Side RR. IstM . g. (guar.)..
5
B a ltim ore «& Ohio Southw.—(Jin. A Balt., 1st M
B. A O. S.W. RE.,IstM ., gold (guar. p. Ai., end.) o* 281
Ohio A Miss., 1st cons., ext. in goldin ’9 7 .U n .c J 393
393
2d consol, mort. (sink, fund), no drawing___o’
Spring. Div. (Sp.A HI. S. E.) 1st M. ($3,000,000) c’ 222
Equip. Trust, 3 series, drawn yearly at 1 0 0 ...o’
B. A O. S. W. By., 1st con. M., g., gu. (end.).o*&:
Income mort., A & B (A, $8,750,000)............c&r’
B. A O. S. W. Term. Co. 1st M. gold, guar., pA i.c
Marietta Ry. 1st M., g., $175,000, gu., p. A i . end
Syndicate collateral trust temporary loan...........
.
sidings: also on the B. A O. Terminal property and the Baltimore Belt
RR. if and when the same shall be acquired by the new company. They
w ill also be a lien subject to prior lien mortgage upon main line, etc.
Total authorized issue in no case to exceed.........................$165,000,000
Of which to retire prior lien bonds in 1925.....................
75,000,000
For the enlargement, betterment or extension of the
properties covered by the two new mortgages, or for
extensions, additions or equipment, at not exceeding
$1,500.000 a year for the first four years and at not
exceeding $1,000,000 a year thereafter........................
27,000,000
Reserve for new company....................................................
7,000,000
To retire Balt. Belt Line 5s, 1st mortgage.......................
6,000,000
Present issue limited t o ...................................................... 5 0 , 0 0 0 , 0 0 0
96^784,535
Of which toward retirement of existing bonds...............
For purchase by reorganization syndicate......................
12,*50,000
For contingencies (any surplus to new com pany)..........
1 , 165,165
(3) B. <6 O. Pittsburg Junction dk Middle Division 3^3 per cent gold
bonds to be due 1925 and to bear interest from Nov 1, 1898. E x
pected to be ultimately a first lien upon the railroads of the Central
Ohio system and Pittsburg Junction RR. Co., 385 miles in all—
Total authorized issue in no case to exceed....................... $20,000,000
Of which to be issued only at the rate of not exceeding
$1,000,000 per year for the first two years and
thereafter a f the rate o f not exceeding $500,000 per
year, for the enlargement, betterment or extension of
the properties covered by the first mortgage................
5,000,000
Present issue limited to .......... i ..............................................1 5 , 0 0 0 , 0 0 0
io¿ 6q,000
Of which in partial exchange lor existing bonds___
To be sold to a syndicate for cash requirements (includ
4,000,000
ing $3,000,000 for improvements, equipment, etc.).. .
431,000
Balance for contingencies....................................................
( 4 ) Southwestern Division 1st Mortgage 3 ^ per cent gold
bonds, due 1925, and bearing interest from Jan. 1,1899.
To be ultimately a first lien upon the properties consti
tuting the B. A O. Southwestern RR. system, or the
securities representing the same, covering about 921
miles of first track and about 305^2 miles of second
track and sidings, and also all o f the equipment now
owned by the B. A O. S. W. Ry. Co., or subsequently
acquired with the proceeds of these bonds. Total issue 45,000,000
Of which to be issuable only at the rate of not exceed
ing $1,000,000 per year for the enlargement, better
ment or extension of the properties covered by lien...
5,000,000
Present issue ..................................................................... 4 0 ,0 0 0 ,0 0 0
Of which in partial exchange for existing bonds............
35¿40,080
Sold to syndicate for cash requirements (including
$5,000,000 for improvements, equipment, e t c ..........
4,4517,020
(5) Four percent non cumulative Preferred Stock, origin
ally proposed $40,000,000, but to be increased for ao- *
quisition o f Cent. Ohio, B. A O. S. W., etc., t o ................ $60,000,000
5,000,000
Of which to be held as reserve for new company...........
Present issue to be, not exceeding.................................... 5 5 ,0 0 0 ,0 0 0
Of which for reorganizat’n purposes, see table (1) below
17,218,700
do
do for acquisition of Cent. Ohio. etc. (table 2).
5,888,850
’ do
do for acquisition of B. A O. S. W. (table 3 )....
6,253,440
For purchase by syndicate to provide cash (B. AO.planl)
16,450,000
6,246.560
do
do
B. A O. Southwestern (plan 3 )
For reorganization, etc. (any surplus to company)........
2,042,450
(6) Common Stock, originally proposed $55,000,00c, now...4 5 ,0 0 0 ,0 0 0
V o ting T rust .—B oth classes o f stock o f the new com p an y w ill be
vested in the following five voting trustees for the period of five years:
William Salomon, Abraham Wolff, J. Kennedy Tod, Louis Fitzgerald
and Charles H. Coster. The voting trustees, however, in their dis
cretion, may deliver the stock at an earlier date.
TERMS OF EXCHANGE— (1) MAIN LINE PLAN.—V . 66, p. 1235.
R e c e iv e s Existing Bonds and Stock for each
$1,000 or £200 of Principal .
(A s to treatment of coupons see foot note a.) a Cash Prior Ut M. Pref. Com.
4s. stock. stock.
3 «».
B. & O. loan o f 1853, extended........................... $10 00 $1,025
20 83 1.050
Consol, mortgage 6s o f 1887, *11,988,000 b . . .
19 47 1,020
£ loan o f 1872, £1,921,800.................................
9 73 1,020
£ loan o f 1874. £1,990,600.................................
15 00 1.050
Parkersburg Branch 6s, $3,000,000................
20 00 1.025
Pittsb. & Connellsv. 1st exten. 4s, $2,581,000..
35
00 1,000
1st 7s, not extension, $1,419,000.....................
*083 1,000
Baltimore & Ohio 5s, loan o f 1885, $10,000.000
29 20 1.026
P ittsb’g & Connellsv. consol. 6s, £1,302,000....
4 Od 100
Chicago Division 5s, £1,382,200.........................
Philadelphia Division 4J6s, £2,400,000......
B. & O. 4J4S, terminal bonds o f ’94, $8,500,000.
A kron A Chicago Junction 5s, $1,500,000........
Preferred stock, $600,00i.................................
Baltimore B elt 5s, $6,0oo,o00.......................... See “ c ”
W ash. City & Point L ookout 6s, $328,000.......
Old Baltimore & Ohio stock i f paying assess
m ent (per $100 share deposited)—
1st pref., $3,000,000, assessment $2...............
2d pref., 2,000,000, assessment $20..............
Common.25,000,000, assessment $20., . ...
$125
125
120
120
125
12
125
125
120
1,070
1,000
1,000
1,000
$140
85
40
160
40
100
200
100
5 g. F. A A.
4 1* g. J. A D.
5
A. A O.
5
M. A N.
5 g- J. A J.
Feb., 1897, last paid.
June, ’97, paid Oct.,’97.
Phila., Fin’ ce Co. of Pa.
Phila., Fin’ce Co. of Pa.
Baltimore.
Feb. 1, 1925
June 1, 1934
Apr. 1, 1899
N v .l,’ 98-1900
1900
5 g. J. A D. June, ’98, coup, last p’d Deo. 1, 1935
5 g. M. A N. N.Y., J.P. Morgan A Co. May 1, 1939
5 g- M. A N. Nov., ’97, ooup. purch’d Nov. 1, 1930
45.000.
000
55.000.
000
70.000.
000 3iq g.
50.000.
000 4 g.
15.000.
000 3^2 g.
40.000.
000
g.
6,000.000
4 (5) g.
4.500.000
5 g.
333.000
7
10.667.000
4*2 g.
a6,385,000
4 g.
b2,952,000
7
cl.993,000
7
d315,000
5
101.000
6
10,360,690
4*2 g.
18.750.000
5
1.200.000
5 g.
127.000
4 g.
675.000
5,000, of b $ 261,000,
J. A J.
J. A J.
M. A N.
J. A J.
M. A N.
J. A D.
J. A J.
J. A J.
J. A J.
A. A O.
M. A N.
J. A D.
Various
J. A J.
See text
M. A N.
M. A N.
Draw int. from J’y 1,’98
1925
do
do
do
July 1, 1948
do
do N’v .1 ,’98 Nov. 1, 1925
do
do J’n .l, ’99 Jan. 1, 1925
Nov. 1, 1990
Dec. 1, 1935
N. Y., Farmers’ L. A Tr. Jan. T , 1900
do
do
Jan. 1, 1990
do
do
Jan. 1, 1947
do
do
Apr. 1, 1911
do
do
Nov. 1, 1905
do
do
June 1, 1932
N.Y.BaringMagounACo 10 p. 0. yearly.
N.Y., Farmers’ L. A Tr. July 1, 1993
See text.
July 1, 2043
N. Y., Farmers’ L. A Tr. May 1, 1942
do
do
Nov. 1, 1996
of c$1 6 , 000,. of d $3,687,000.
a The “ cash ” shown in the table represents interest at rate provided in old
bonds, from date o f last matured coupon next preceding July 1,1898, up to the
date when the new bonds began to bear interest, July 1 ,18H'J. AH previously
matured and unpaid interest (excepting unpaid coupons o f W ashington City A
Point Lookout R R .), will be paid in cash after the plan is declared operative,
with interest at 5 per cent per annum to the date o f final payment. The la st'
coupon paid on each loan appears in table at top o f page.
b The syndicate will also purchase fo r cash all B. & O. consol. 5s o f 1887 d e
posited whose holders within sixty days from June 22,1898, signified their pref
erence fo r cash, at the price o f HO and interest.
c The Baltimore Belt Line Railroad will be leased at a rental equivalent to
interest at 4 per cent on the existing B elt Line 6 per cent bonds, which is to be
in full payment o f said Interest; but the new com pany shall have an option to
purchase all the said Belt Line 5 per cent bonds at par and accrued interest at
anytim e within 5 years on do days’ notice. If not so purchased the com pany
will assume the ultimate payment, when due, o f the principal o f such bonds.
(2)
leased line
(central Ohio ) p la n .—V. 67, p. 688, as modified bv
V. 67, p. 1109, 1206, 1356.
Each $1.000 Bond, $1,000 314s
Pref. I Each $1,000 Bond, $1,000 314s
Pref.
of stock to receive :
1925
stock.
of stock to receive:
1925
stock.
Central Ohio 4)*$s............$1,170
. . . . I Newark Som. & Str’ts 5s. 500
600
Com. and pref. stock............. a$l,000 I Pitts. June. 1st 6s...........1,3"0
San. Man. & New. 7s__ 1,140
....
Second 5s, )
v- «•» (1,100
Stock.—V. 67, p. 737...............
1,000
P ref. stock, > 8®e1vA 7, (1,000
600
Col. & Cln. Mid. 4J4s b.
700
2<>0 | Com stock!) P -1056- }
750
P ref.
stock......
................................................
300 I Pitts. Juno. Ter. Co. 5s.. 1,080
.. ..
Coupon*.—San. M. & New. overdue coupons will oe paid in cash,but no others,
a Also cash bonus o f $150, viz., $7 50 per $50 share,
b Subsequently offered $940 flat in cash —V 67, p. 1109,1159.
West Virginia A Pittsburg—See statement that co., and V. 67, p 1310
Schuylkill River East Side per V. 68, p. 40, treated as follows :
W ill be leased at a rental equivalent to interest at 5 per cent on the existing
bonds, but the new company shall have the right to purchase all the Schuyl
kill bonds at 110 and accrued interest at any time after Dec. 1,1900 and prior
to Dec. 1, 1903, on 30 days’ notice. I f n ot so purchased, the company will
assume the ultimate payment when due o f the principal o f such bonds.
(3) BALTIMORE & OHIO SO. WEST. PLAN.—V . 67, p. 1281, 1262.
Existing bonds and
stock to
BE DEPOSITED.
do. sterlin g ....
Gen. M. 5s. currency___
Cons. M. 4!4s.........................................
Incom e M. 5s, series A ......................
Incom e M. 5s, series B........................
Preferred stock...................................
B. & O. Southwestern Term. C o.5 s....
/—........ — EACH 1,000 RECEIVESSoww’n Div.
3)¡á% bonds.
tr ctfs.
.$20 00
$1.070
$100
. 20 00
1,040
100
. 17 50
1,240
125
. 1167
1,000
125
. 417
900
100
. 22 50
1,060
100
900
100
300
Cash.
. 8 33
. 36 00
. 6 67
1,030
1,000
1,000
125
125
tr. ctfs.
$200
225
175
* Interest at the rate provided in the old bonds fro m the date o f the last ma
tured coupon next preceding January 1 ,1899, up to the date when the new
bonds begin to bear interest, namely, January 1,1899, excepting in respect o f
bonds represented by certificates o f deposit stamped ,{ Ex-interest due Januarv
1,1899,” as stated in plan.
POSITION OF NEW COMPANY, INCLUDING CENTRAL OHIO SYSTEM, BALTI
MORE & OHIO SODTHWESTERN, ETC.
Estimated net income on basis of year end. June 30.1898.
(including $1,989,761 from B. A O. S. W)........................... $io, 286,194
Deduct interest on $70,000,000 prior lien 3*a per cents...... $2 450.000
$15,000,000 Pittsburg June. A Middle Divis. 3*2 per cents.
’ 525.000
$40,000,000 Southwestern Div. 1st 3*2 per cents................ l 400.000
$50,000,000 first mortgage 4 per cents...........................2'
000,000
Estimated rentals, including Belt Line............................ 1
500.000
Taxes (if foreclosure is necessary the taxes may increase*)!
544,794
Taxes B. A O. Southwestern system.......................................
293,998
Terminals.............................................................................. !” 5,*
202.000
Ground rents and mortgage interest................................
75,000
Total charges of new company.......................................... $7,990,792
Balance surplus [equal to 4 7sp. c. on preferred stock]....... $2,295,402*
iT h e fixed charges will thus be well within the past net income o f
the p roperty-even that of the last fiscal year of extreme depression
The new company will be relieved from floating debt and the embar’rasment of car and wheelage trust payments, and will start with
substantial working oapital and with power to provide facilities for
the increase o f business.” The following is also given:
265
Apart from the large amount provided in the plan dated June 22.1898 to be
expended on the B. & O. RR. properties, the plan fo r the reorganization o f the
50
250 $ 1,000 Central Ohio RR. svsiem provides $3.000,000 to be expended on the DroDerties
comprised therein and fo r additional equipm ent; and the B. & O Southwest
plan provides $5,500,000 to be expended in like manner on the Baltimore A
ï,oôô ern
Ohio Southwestern System. T he above statement o f earnings does n ot allow
fo r any increase in earnings from these expenditures, wnich, it is confidently
’
525
75C expected, should largely increase the surplus over fixed charges.
200 1,500
E a r n in g s .—5 mos., > 1898...... Gross, $12,257,843: net, $3 079 4qq
2^0 1,000
July 1 to Nov. 30.
S1897...... Gross,
11,689,998; net, 3!26l’ l9 3
J anuary,
RAILROAD
1899.]
STOCKS
AN D
BONDS,
17
S u b s c r ib e r » w i l l c o n f e r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d In t b e s e T a b le s .
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
pal. When Due.
For explanation o f 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.
Bait. A Potomac—IstM. (tun.) gold,s. f., not dr’nx.o*
1st M., road, guar., gold, sink.fd., not drawn, .xo*
Consolidated mortgage for $10,000,000, gold, .c*
Bangor A Ar.—1st M.$3,360,()00($16,000 p.m.) g.o*
2d mortgage, $1.050,000($5,000 a mile), g old .. . .
1st morf. on Piscat. Div., $1,500,000, gold..........
Bang.& Plsoata.—Pref.M. Green Ext.,$3(>0,000...
Bonds held by City o f Bangor, $925,000...........
Aroostook No. 1st M., guar. p. & L, gold :...G .c *
Bath A Hammondsport— l st mortgage, gold............
Second mortgage, gold.............................................
Beech Oreek—Stock (guaranteed 4 per cent by end.)
1st M.,g, guar.p.&L(end.).................................. c&r
2d M. for $1,000,000, gold, guar. p. & 1. (end.) .o&r
1st M. ($262,000 reserved for prior lien bonds)..
Belt RR A Stock Yard o f Indianapolis—Stock..__
Preferred stock, cumulative..................................
1st mortgage for $1,000,000, currency.................
Belt Ry.—1st M.(red. aft. July 1,1903) g.nHeBa.o'
2d M., income to July 1,1903, when red. at 100.
Belvidere Delaware—Stock ($4,000,000)........
i r t f r o r rp \
fo T
1871 $ 1,000 n$l,500,000
6 g. J. & J. Balt. Office and London, July 1, 1911
1871
1,000 n3,000,000
do
do
Apr. 1, 1911
6 g. A. & O.
1889
1.000
3.000.
000 5 g- J. & J.
do
Calvert St. July 1, 1929
1893
1,000
3.360.000
5 g. J. & J. N. Y., Guar. Trust Co. Jan. 1, 1948
1895
See text.
do
do
July 1, 1945
5 g. J. & J.
77 1899
See text.
Apr. 1, 1949
5 g. A. & O.
77 1883 500 &o.
A. & O. Boston, Merci. Nat. Bk. Apr. 2, 1913
5
( 1)
77 1869
1,000
6
&
7
A.
<
fe
O.
Bangor,
Me.
Apr. 1, 1899
rt>
1513 1897
225.000
1,000
5 g. A. & O. N. Y., Guar. Trust Co. Oot. 1, 1947
10 1889
1,000
100.000
New York City,
June 1, 1919
5 g. J. & D.
10 1893
1,000
200,000
do
do
Apr. 1, 1928
5 g. A. & O.
150
50
4
5.500.000
Q.—J. N. Y., Grand Cent. Sta. Jan.,1899,1%
150 1886
1,000
5.000.
000 4 g. J. & J.
do
do
July 1, 1936
150 1892
1,000
do
do
J. & J.
500.000
July 1, 1936
ì g1891
&0.
803,100
4
g. J. & J. N. Y., Kniokerb’r Trust. Jan. 1, 1940
_ 1889 100
1,000
216.000
6
J. & J. July,’ 94, ooup.lastpaid. July 1, 1899
—
1890
1,000
1.138.000
4
J. & J
Jan. 1, 1940
50
1,"00,0 0 5 in ’98. J. & J. Indianapolis, Co. offioe. Jan., ’ 9 9 ,2 ^ %
....
50
500.000
6
do
do
Q.—J.
Jan., ’99,1**%
1881
1,000
1.000.
000 6
M. &N Phila., W. H. Newbolds. Apr. 30,1911
25 1895
4 to 5 J. & J. Balt., Mero. Tr. & Dep. July 1, 1945
275.000
25 1895
4
24,000
1903-1945
50
1.253.000 5 in ’98,
Philadelphia, Pa. RR. Feb.23,’ 98,5%
'6 4 1853
1,000
1,000,000
J. & D. Philadelphia, Pa. RR. June 1, 1902
6
67 1885
1,000
M. & S.
4
500.000
do
do
Sept. 1, 1925
67 1887
1,000
749.000
P. & A.
4
do
do
Feb. 1. 1927
67 1893
1,000
500.000
J. & J.
4
do
do
Jan. 1, 1938
59 1897
1,000
500.000
4 12 g. M. & N. N. Y., Sec. & Trust Co. Nov. 1, 1927
30 1898
1,000
4 0,000
J. & J. Phila., F. I. T. & S.D.Co. Jan. 1, 1928
5
30 1898
1,000
200.000
J. & J. Phila., when earned. Jan. 1, 1928
5
389
100 25,000,000 8 in ’98 Q.—M. Boston, Of. Kneeland St. Dec. 31,’98,2%
1882
3.858.000
A. & O,
do
do
Apr. 1, 1902
1893
3.627.000
A. & O.
do
do
I Oct. 1, 1913
I 1«
90
92
211
R eport .—Fisoal year ends June 30. Report for 1897-8,
was »riven in full in V. 67, p. 1052.1057. (see also editorial p. 1030)
and showed, exclusive of the B. & O. S. W., reported separately:
Year ending June 30—
1897-8.
1896-7.
1895-6.
Gross earnings .......................... $27,722,787 $25,582,123 $23,944,782
$5,570,029 $6,361,362
Net earnings............................... $7,446,695
Add inc. from othersouroes.... 1,017,478
1,040,716
1,068,924
annual
exceedingly heavy loads of freight, the average per train in 1897-98
being 580 ton s; in 1896-97, 608 tons. Average rate per ton per mile
0 #28o. in 1897-98; 0'35 in 1896-97 See guaranty V. 52, p. 570.
B onds .—The bonds are endorsed with the New York Central’ s guar
anty of principal and interest. See V. 52, p. 570. Equipment
trusts (5 p. o.) June 30, 1898, $74,000, int. at Knickerbocker Trust
Co., N. Y.; also $416,000 of 4*2 per cents of 1895. The Clearfield Bitu
minous Coal Corporation has capital stock, $825,000 and bonds author
Total net in co m e ................. $8,464,173
$6,610,745
$7,430,286 ized, $825,000; retired by sinking fund to June jo , 1896, $21,900.
—V. 67, p. 1 0 5 2 , 1261,1307,1310,1355, 1356; V. 68, p. 40, 84, 87.
A nnual R e p o r t .—Fiscal year ends June 30. Statement for 1896-7
B a ltim o r e 8c O h io S o u t h w e s t e r n B y . —( See Map o f Balt. A Ohio was in V. 65, p. 727. In 1897-8, gross, $1,540,«90; net, $772,004; inter
est, rentals, etc., $377,733; dividends, $220.000; bal.. surplus, $174,Owns from Belpre. 0 ..t o St. Louis, etc., 921 miles in all.
On Deo. 31,1898, Judson Harmon was appointed receiver and oi 271. In 1896-7 gross, $1,416,979; net, $756,475.—(V. 66, p. 952.)
Jan. 5, 1899. Joseph Robinson, co receiver, preparatory to reorganiza
B e l la lr e Z a n e s v ille 8c C in c in n a t i R y . — Owns Bellaire, O., to
tion. See plan with that of B. & O. Co. above; also V. 68, p 40.
Wilhelm Station, O., 102 miles, three foot gauge; Muskingum County
Stock .—The$10,000,000 common is held by B. & O. and carries con Railroad, Wilhelm to Mill Run, 9 miles; trackage B. & O. RR., Mill Run to
Zanesville, 1 mile; total op., 112 m. R e c e iv e r sh ip .—In June, ’ 95, Gen.
trol. Pref. 7 p. c. non-cum. is $20,000,000.
Manager J. K. Geddes was made reoeiver, interest due Jan. 1, 1895,
B onds.—A b s t r a c t of first mortgage of 1889 was in V. 51, p. 245.
on
the prior lien bonds being in default. Foreclosure suit brought in
2 ti per cent interest was paid Nov. 1,1895 on “ A” incomes.
August, 1895, but no further aotion taken to April, 1897. V. 61, p.
E arnings.—5 mos., > 1898...........Gross, $2,499,319; net, $730,958 239. Stock is: Common, $832,000; preferred, $795,910; par $50.
July 1 to Nov. 30.
( 1897........... Gross, 2,347,772; net, 778,741 In year ending June 30,1898, gross, $106,438; net, $8,075. In 1896-7,
G eneral F inances.—On June 30,1898, the net unfunded debt was gross, $98,250; net, $3,096. In 1895-6 gross, $98,853; deficit under
$1,200,926, including the “ syndicate loan” $675.000, equipment operating expenses, $3,696.—(V. 61, p. 26, 239.)
notes $125,288, bills payable $176,022, etc.
B e l t R a ilr o a d . 8c S to c k Y a r d o f I n d i a n a p o li s . — Owns 14
ANNUAL REPORT.—Report for 1897-8 at length in V. 67, p. 1259,1265. miles of belt road, etc. Leased for 999 years to In i. Union—which see.
I ear.
woss
Net.
Oth me.
Charges. Sur.ordef.
D iv id e n d s .— ) Preferred in Common ’95. ’96. ’ 97. ’ 98.
’ $9.
1897-8 .$6,904,317
$1,987,511
$2,250 $2,089,334 def.$99,573 Since 1894.......5 full to date, stock p. c. 5 4 *2 0
5 Jan., 2*2
1896-7.. 6,140,000
1,882,696
2,250
2,154,292 def.269,346
In
1892
the
“
common
stock
had
not
paid
less
than
3
per
cent
1895-6.. 6.458,395
2,170,070
9,598
2,115,779 sur.63,889
semi-annually (J. & J.), and at times more, for past fifteen years.”
—(V.67, p. 1 2 6 5 , 1355; V. 68, p. 40.)
The $500,000 6s of 1876 due Deo. 1,1896, have been paid, leaving the
B a lt i m o r e 8c P o t o m a c R R . — Owns from Baltimore, Md., to 6s of 1881 a first lien. President (March, 1897), A. W. Minshall o f
Bouth End Long Bridge, Va., and branch, 44 m.; and from Bowie to Terre Haute, Ind.—V. 63, p. 153; V. 66, p. 334.
Pope’s Creek, 49 m.{ total, 93 miles—including tunnel in City of Balti
B e lt R a i l w a y ( o f C h a t t a n o o g a , T e n n .) ,— Owns 25 miles of
more; total 93 miles. Controlled by Penn. RR. Co.
belt railroad in Chattanooga, Tenn. V. 67, p. 72.
stock .—Oct., 1897, $5,531,000 (par $50), of which Penn. RR. owns
H is t o r y .—A reorganization of Union Ry. foreclosed June 17,1895.
$4,616,350 and Northern Central $704,450. B onds.—Consols are Leased till July 1,1945, to Alabma Great Southern RR.; rental guar
reserved to retire all the prior bonds as they mature. The first mort anteed to meet interest on 1st M. bonds, taxes and maintenance.
gage bonds are guaranteed by Pennsylvania RR. and Northern Central Sto c k is $300,000, o wned by Ala. Great So. Ry.—V. 63, p. 6qg.
E arnings .—In year ending Oct. 31, 1898, gross, $2,203,834; net;
B onds .—First mortgage for $300,000, bears interest at 3 p. 0. for 2
$600,392; interest, $420,000; int. on equipment, taxes,etc., $157,714, years from July 1,1895, 4 p. 0. for 2 years more and 5 p. 0. thereafter.
bal., surplus, $22,678. In 1896-97 gross, $1,868,512; net, $503,833.
E arn in gs .—Earnings now included in Ala. Gt. So. Figures for year
B a n g o r 8c A r o o s t o o k R R . — Operates 315 miles of road ex 1896-97 gross, $37,978; operating expenses, $39,272; deficit, $1,294,
tending from Oldtown, Me., northerly to Piscataquis County and the owing chiefly to extraordinary repairs.—V. 63, p. 356, 699; V. 67, p. 72.
Katahdin Iron Works. System embraces :
B e lv id e r e D e la w a r e R R . — Owns from Trenton, N. J., to MaDines owned ("220 m.)— Miles.
Leased 999 years (Y. 65,p. 204.) nunka
Chunk, N. J., 67. m.; FiemingtonRR.,<&o., 14 m.; operated cut-off
Brownville to Caribou a n d b r..l6 8
Miles. 1 m.; total
operated, 82 miles. Leased to United Companies, and trans
Ashland Jet. to A s h la n d ........ 43 Aroostook Northern, Caribou
Leased 999 years (Y. 65, p. 204J
to Limestone........................... 16 ferred to Penn. RR. March 7,1876. Net earnings paid as rental.
Sto c k .—Authorized, $4,000,000; outstanding Feb., 1898, $1,253,Bangor & P ise.— Oldtown to
Greenville and Iron Works.. 95
Total operated....................322 000; par, $50. Dividends in 1897: March 1,5% ; in 1898, Feb. 23, 5%.
B onds .—First 6s of 1853 and the $1,249,000 4 per cents of L885-7 are
O r g a n iz a t io n .—Organized Feb. 13.1891. From Houlton to Caribou
opened Jan. 1,1895; from Ashland Junction to Ashland Jan. 6,1896. guaranteed by the United Companies, and their guaranty assumed by
The State of Maine refunds 95 per cent of all taxes levied on road and the Penn. RR. under its lease. Bonds of 1885,1887 ana 1893 are se
eased lines. Full data as to organization were given in V. 66, p. 855 cured by the consol, mortgage of 1875 for $4,000,000, which provides
STOCK.—Com m on, $ 1 ,050 ,000 ; 10,400 shares fu ll paid and 100 for a sinking fund of 1 per cent of outstanding bonds if earned.
E arnings .—In 1897, gross, $1,040,050; net, $268,185; interest, etc.
3hares, 5% paid; pref., 5% , n on -cu m .,$1,328,000—paid in, $1,065,944;
B onds.—Second mortgage bonds for $167,000 had been sold to July 1 $191,721. In 1896, gross, $1,000,317; net, $203,938.
1898, and $883,000 were held as collateral by the Aroostook Construe
B e n n in g t o n 8c R u t l a n d R y . — Rutland to Bennington, Vt., and
oion Co., making total outstanding $1,050,000. In Nov., 1898. sold branch, 59 miles. Organized in 1877. Capital stock, $1,000,000.
$1,500,000 new 5<>-year 5 p. c. gold bonds on Ban. & Pis. RR., dated
E
arnings .—Year ending June 30,1898, gross, $234,600; net, $61,April 1,1899, to retire the $1,225,o00 outstanding B. & P. bonds on
or before Apr. 1 ,1899; remainder for improvements.—V. 67, p. 1159; 152; int. on bonds, $26,083; dlv. (1 p. c.), $10,000; bal., surplus, $25.069.
In 1896-7, gross, $217,928; net, $36,260.—V. 65, p. 975.
V. 68, p. 84. Car trust o f 1897 covers 1,218 oars, $340,000 on July 1,
1898; trustee is Guaranty Trust Co., New York. On July 1, 1898,
B e r k s h ir e R R . —West Stockbridge, Mass., to Connecticut State
there were notes payable for $250,813.
Line, 21 miles. Road opened 1842. Leased April 1,1893, for 99 years
A n n ual R epo r t —For year ending June 30,1898, gross, $779,207; to N. Y. N. H. & H. RR. for expenses, taxes and 6 p. 0. on stock. Lease
to
Housatonio RR. suspended but not canceled. Stock, $600,000.
net, $348,729; charges and taxes, $295,282; improvements, $21,465;
bal., surplus, $31,982. Year 1896-97, gross, $779,207 ; net, $354,085.
B
lo o m s b u r g 8c S u l l iv a n R R . — Owns Bloomsburg to Jamison
— (V. 65, p. » 7 4 ; V. 66, p. 8 5 5 ,1 1 5 9 ,1 3 0 6 ; V. 68, p. 84.)
City, Pa., 30 miles. Stock is $600,000; par, $50.
B a t h 8c H a m m o n d s p o r t R R . — Owns road from Bath,N. Y ., to
Reorganized without foreclosure in 1898.—Y. 66, p. 80, 952.
Hammondsport, N. Y ., 10 miles. Chartered in 1872. St o c k , $100,000;
EARNINGS.— Year ending June 30,1898, gross, $60,700; net, $28,649.
par, $100. E arn in gs .—For year 1897-98, gross, $ 3 9 ,5 5 3 ; net, $19.608.
In 1896-97, gross, $58,058; net, $25,167; interest and taxes, $46,861
In 1895-96, gross, $ 3 5 ,2 9 8 ; net, $15,555.
President, C. R. Buokalew; Vice-Prest. and Treas., Samuel Wigfall
B e e c h C r e e k R R . —(See Map adjoining N. Y. Oentral.)— R oad — Bloomsburg,'Pa. V. 63, p. 115; V. 64, p. 133; V. 66, p. 80, 952.
Jersey Shore, Pa.,to Mahaffey,113 m; branches, to Philipsburg, to mines,
B o s to n 8c A lb a n y R R . — Owns from Boston, Mass., to Albany
<&o., 44 miles; Wigton Mines, near Patton, to Spangler, Pa. (former N. Y. 202 miles; numerous branches, 104 miles; leased lines, 83 miles’
Cambria County RR., merged May, 1898), 20 miles;total, 183 miles; total operated, 389 miles. A consolidation of December, 1867.
trackage to Williamsport, 16 miles; total operated, 193 miles.
This road owns $100,000 stock (out of $500,000) of the Boston Ter
Lease , &c.—From October 1, 1890, leased to the N. Y. Central & minal Co. and, with others, will use the new Union Station in Boston
Hudson River RR. for 999 years at interest on bonds and 4 per cent when completed. (V. 62, p. 547; V. 63, p. 308.)
on stock. Carries mostly coal and coke; in 1897-98, 4,606,033 tons out
Sto c k —In 1889 obtained permission from the Legislature to Issue
of 4,*51,467 total tons m oved; in 1896-97, coal and coke, 3,524,769 $10,000,000 additional stock, $7,000,000 being for bonds due in 1892,
’tons. The operating expenses are relatively low since the trails carry the remainder for improvements.
INVESTORS’
18
SUPPLEMENT.
[V ol. L X V i l i .
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
RAILROADS.
Bonds—^Princi
INTEREST OR DIVIDENDS.
- Miles Date Size, or
pal,When Due
Amount Rate pei When
iS of
of
Par
Where Payable, and by Stocks—Last
Outstanding
on first page of tables.’
Road Bonds Value.
Cent. Payable
Whom.
Dividend.
f
Boston A Lowell—Stock..
....
$100 $6,529,400
8
J. & J.
Boston, at Office.
Jan.
2, ’99,4%
. . . . 1879
Ronds, not mortgage..
620,000
5
J. & J.
July 1, 1893do
. . . . 1883
Bonds,
250.000
4*2 M. & N.
May
1, 1903
do
. . . . 1885
Bonds,
3,675,000
4
Various
do
do
1905-6-7-9
Boston & Maine gives 1 . . . . 1892
do
1,000
Bonds,
1,000,000
4
A. & O.
Apr. 1, 1933
a rental guarantee
do
1893
Bonds,
1,000
1,000,000
4
F. & A.
Feb. 1, 1913
. . . . 1895
for 99 years.
do
Bonds,
500,000
4
M. & S.
Moh. 1, 1915
do
Bonds,
. . . . 1896
1,000
750,000
4
A. & O.
July
1, 1916
. . . . 1897-8 1,000
do
Bonds,
414,000
4
A. & O.
Oct.,1917& IS
Bonds..........................o I
. . . . 1899
620,000
3*2 J. & J.
do
do
July
1,
1919
Nash. &Low plain b’ds J
. . . . 1880
100,000
5 g- J. & J. Nashua, Co.’s Office.
July 1, 1900
Boston A Maine—Stock, common and scrip............ - . . . .
....
100 18,739,200 6 in 1898 Q .-J .
Boston, at Office.
Preferred stock, 6 per cent, non-cumulative....... . . . . .
....
100
3,149,800
6
M. & S.
1 . . . . 1885
1,000
1,000,000
4
F. & A.
Feb. 2, 1905
. . . . 1887
1,000
500,000
4
F. & A.
do
do
Feb. 1, 1907
Improvement bonds, not mortgage.
. . . . 1887
1,000
1,919,000
4
F. & A.
Feb.
1, 1937
. . . . 1892 lOOO&c.
2,500,000
F. & A.
4
do
do
Aug. 1, 1942
r . . . . 1894
1,000
6,000,000
4*2 g. J. & J.
Jan.
1.
1944
I l l 1876 $ & £
8,386,334
6 g. M. & S. Bost.; Lond., Baring Br. Sept. 1, 1906
Portsmouth Great Falls & Conway, 1st mort___
73 1877 500&C.
998,000
4*2 J. & D.
Boston, at office.
June
1,
1937
Charleston land mortgage notes........................... .
597,800
Sept. 1, 1906
Boston A Prov.—Stock, 10 p. c. guar. 99 yrs., Old Col.
___
68
100
4,000,000
10
Q.—J. Boston, Of., Sears Bldg. ran. 2’99,21a%
. . . . ’88-’93 1,000
Bonds, not mortgage............................................. e
2,170,000
4
J. & J.
do
do
July
1, 1918
'Boston Revere Beach A Lynn—Stock.........................
....
....
100
850,000 2 In 1898 J. & J.
Boston.
ran. 1, ’99,1%
New 1st mortgage, $1,000,000, gold__ S B
1897 lOOO&o.
561,000
4*2g. J. & J. Boston, State St.Tr. Co. July 15,1927
8 1886
1,000
289,000
5
M. Sc S.
do
Sept. 1. 1906
27 1892
500
249,000
4 g. A. & O. N. Y., Met. Trust Co.
1942
1,000
7*2 1887
500,000
5
M. <fc 8. Mar.,’ u6,pd. Mar. 24/96 8ept. 1, 1927
Consol, mortgage, $1,000,000.
1,000
7*2 1896
300,000
In default.
5 g- VI. & N.
May
1, 194®
Income certificates..................
1895
394,500
6
Sept. 1, 1935 '
MENT.
Brooklyn A Rochaway Beach.—1st M., $350,000,g. c ’
3*2 1891
338,000
6 g. M. & N.
May 1, 1931
6 1882
i.ò o ó
250,000
6 * J. & J. N. Y., Farmers’ L. Sc Tr. Jau. 1. 1907
D ividends —Cash dividends at the rate of 8 per cent yearly have been
Year ending June 30.
1898.
1897.
1896.
paidfor many years. Stock dividend, 10 p. c. in 1883 and 3% p. c. in 1886. Net, inolud. other inoome.......... $6,759,473
$6,638,983
$6,597,361
Interest.......................................
1,089,125
E arnings.—3 months ending Sept. 30:
1,104,726
1,096,396
Rentals......................................... 3,307,107
3 mos.
Oross.
Net. Int., tax, etc. Divs.
Balance,
3,208,012
3,140,910
Taxes............................................ 1,030,040
1898.......... $2,370,089 $873,857 $720.513 $500,000 sur.$220,5l3
988,348
981,954
1897.......... 2,522,402
6^0,743
478,128
500.000
def.21,872 Dividends.................................... 1,234,002
1,234,002
1,234,002
69,779
Sinking fu n d ..............................
68,601
7 2 ,633
A nnual R eport .—Report for 1897-98 was in V. 67, p. 478.
Year ending June 30—
1898.
1897.
1896
Balance, surplus.........................
$2 ,420
$35,294
$ 7 1,46 6
Gross earnings...........................$9,241,569
$9,114,625
$9,350,632
Net earnings......................................$2,446,568$2,456,550
1
$2,438,767 -(V . 66, p. 334, 616, 899; V. 67, p. 318, 3 6 7 , 6 8 6 , 1002.)
B o s to n Sc P r o v id e n c e K B . —Owns Boston, Mass., to Providence
Interest paid...................................... $337,980 $337,980
$337,980
Rentals......................
78,000
78,000
78,000 R. f., 44 miles; branches, 20 miles; leases to North Attleborough, 4
Dividends (8 per cent).................... 2,000,000 2,000,000
2, 000,000 miles. Leased for 99 years, April 1, 1888, to Old Colony RR.; rental,
10 per cent yearly on stock. Old Colony to July 1, 1892, had invested
Balance, surp lus.....................
$30,588
$40,570
$22,787 $1,671,938 in road on lease improvement acoount.
—(V. 66, p. 334,952; V .6 7 ,p. 3 1 6 , 318, 4 7 8 ,1 0 0 2 ; V. 68, p. 84.)
B o s to n K e v e r e B e a c h Sc L y n n K B . — Owns narrow-gauge road
B o s to n Sc L o w e l l R R . — R oad—Owns Boston to Lowell, 27 miles from Lynn to East Boston, Mass., 9 miles, connecting with Boston by
branches—Salem and Lowell, 17 miles; Lowell and Lawrence, .12 miles; oompany’s ferry boats; Boston Winthrop & Shore Div., East Boston to
others, 32 miles; Middlesex Central, 11 miles; leases—Central Mas Wlnthrop, 5 miles, with branches 3 miles. The mortgage of 1897 is
sachusetts, 1 0 4 miles; Connecticut & Passumpsio, 1 4 7 miles; Nashua for $1,000,000; $289.000 reserved for Boston W . & 8. 5s; balance unis
<Se Lowell, 15 m.; Peterborough, 10 m.; Northern N. H.. 83 m. (and sued is for improvements. (V. 65, p. 68.)
subsidiary lines 99 m.): Stony Brook RR., 13 m.; Wilton RR., 15 m.
D iv id e n d s . ) 1888-91. ’ 92. ’ 93. ’94. ’95. ’ 96. ’ 97. ’ 98.
’ 99.
These leases were mostly assumed by Boston & Maine.
Per cent. J 7 yearly, 5*2 5 4*2 4
3
2
2
Jan., 1
L eases.—Leased in 1887 for 99 years to the Boston & Maine at 7 per
E arnings.—Year ends June 30. Report for 1897-8 in V. 67, p. 1000;.
cent per annum on stock till Jan. 3,1897, and 8 per cent thereafter.
Year.
Gross.
Net. Int. A taxes. Div. paid. Bal., surp.
Stock and B onds.—Stock authorized, $6,529,400. The debentures 1897-98......... $258,758
$62,619
$45,218
$17,000
$401
were described on page 2, Supplement of April, 1895. The $214,000 1896-97......... 264,530
80,692
54,948
25.500
244
4s of 1898 were issued Oct. 1,1898, to retire the Salem & Lowell 6s —(V. 63, p. 7 1 6 , 837,879,967; V. 6 4 ,p. 1000; V. 65,p. 68, 5 6 8 , 1000.>
maturing Oct. 1.1898, amounting to $226,900. In Jan., 1899. the
B r a d f o r d B o r d e t! Sc K i n z u a B y . — Owns Bradford to Smithstockholders authorized the issue of $620,000 20-year 3*28,to be dated
July 1, 1899, which were sold to take up the $620 000 5s maturing on port, Pa , 25 miles; Kinzua Junction to Rew City, Pa., 2 miles; total
27 miles. Leases Ormsby Junction to Mt. Jewett, Pa. (Big Level &
that date. V. 68, p. 84. (V. 66, p. 80; V. 67, p. 528; V. 68, p. 8 1.)
10*50 miles, andMt. Jewett to Kane, Pa. (Pitts. & West.),
B o s to n Sc M a in e R R . —R oad—The system with its many branch Kinzua RR.),total
operated 50 miles. Stock, common, $300,000, au
Unes covers the territory from Boston, Mass., to Portland, Maine, 12*50 miles;
$249,000 issued; par, $50. Bonds not subject to call and
Springfield, Mass., Sherbrooke, Can., etc., and all important places in thorized;
have
no
sinking
fund.
Year 1896-97. gross, $77,804; net, $22,728, in
New Hampshire, and includes:
terest, rentals and taxes, $17,790; surplus, $4,937. President, Geo. L.
Lines owned.
Miles.
Miles. Roberts, Pittsburg, Pa.; Sec., J. B. MoGeorge, 39 Broad St., New York.
Boston, Mass., toPortland, Me. 116 Branches leased..................... 570
B r o o k l y n Sc B r i g h t o n B e a c h B B , — Owns dou >ie-traok road
Boston to N. H. State Line..
41 Trackage rights......................
7
Atlantic Ave. corner Franklin Ave., Brooklyn, to s lsrhton Reach,
Conway Juno., Me., to North
Total operated July 1, ’98.. ..1,717 from
L.
I., 7*3 miles. Kings County Elevated trains only are run. Geo. W.
73
Conway, N. H.......................
Double track.......................... 310 Palmer
and E. L. Langford receivers. Foreclosure pending.—V. 66, p_
Sundry branches.................... 140
80.856. In April. 1898, were authorized -8Wi.OOO receivers’ certificates
Lines leased.
Controls Me. Cent, (which see) .822 for
improvements.
(V. 66, p. 810.) Common stock, $500,000; pref..
State Line to Portland.......
67
Portland & Rochester............55
$500,000.
Lines to Sherbrooke (P. Q.),
St.Johnsbury <feLakeChamp.131
B
onds
,
E
tc
.—On
July
1,1897, loans and bills payable were $82,294.
Rochester, White River,
York Harbor & B ea ch ........ 11
703
Northampton, Groveton,
Vermont Val. of 1871............ 24 Profit and loss deficiency June 30, 1896, $410,995. Sept., 1896, cou
Keene.................................
Sullivan County..................... 26 pons not paid. Of the consols of 1896 a portion is out as collateral.
First Mortgage Committee.—George S. ridgell, 192 Broadway, N. Y.p
The leased lines include: Concord & Montreal, leased June 29,1895,
Boston & Lowell, Central of Mass., Nashua & Lowell, Northern of N. H. J. K. O Sherwood and Fred Ingraham.—V. 66, p. 132.
E arnings.—Year ending June 30,1898, gross, $8,247; deficit from
Worcester Nashua & Rochester, Connecticut River, etc.—See each co.
operating, $14,576; receipts from lease o f trackto Kings Co. Elev. RR.,
Organization , E tc.—In 1890 absorbed by consolidation Eastern RR. terminal,
etc., $31,740; total net income, $17,164; charges, $65,338;
o f Mass, and Portsmouth Great Falls & Conway.
An agreement with N. Y. N. H. <fe H. regarding division of territory balance, deficit, $53,937. In 1896-97 gross, $37,255.—(V. 66, p. 856.)
B
r
o
o
k
l
y n Sc R o c k a w a y B e a c h B B . — Owns road from East.
was made in ’93. (V. 56, p. 464.)
York (Brooklyn) to Canarsie Landing, Jamaica Bay, 3*2 miles (of
Stock .—Common stock authorized, $18,754,200; preferred stock New
which
3
miles
double traok), and operates ferry to Rockaway Beach.
$3,149,800; outstanding in June, 1897, as in table above. (V. 52, p. Operations suspended
winter months. Rails 50-56 pounds
164, 349.) Of common stock $945.200 held by mortgage trustees of steel. Stock is $150,000during
; par, $50. D ividends .—In 1890 and 1891,
Eastern RR. and$376,200 by B. & M. June 30,1898, drew no dividends. eaoh5percent; 1 8 9 2 ,6 per
cent; 1893, 10 per cent; in 1894, (1) per
D ividends .— $ ’87 ’ 88 *89 ’90 ’ 91 ’92 ’93 ’ 94 to Jan., ’ 99 cent. In year ending June 30, 1897, gross, $15,682; def. under oper
On common. < 10% 9
9
9*2
9
8
8
6 yearly.
ating, $6,393; other inoome, $6,626; interest and taxes, $28,293$ bal.
deficit for year, $28,060. In 1895-6, gross, $42,407; net, $2,574.
Bonds.—As to debentures see Supplement of April, 1895.
B u f f a lo C re e k B B . — Owns 6 miles of terminal road iu Buffalo
Loans and notes payable October 31, 1898, none. B. & M.
guarantees $1,328*000 first 5s of St. Johnsbury <&Lake Champlain" N. Y. In January, 1890, leased for term of charter less one day, to th e
Also interest on $113,500 Portland & Rochester and $274,000 Man' Lehigh Valley and the Erie RR., which together own entire capital
Chester & Lawrence 4 p. o. bonds. Jointly with Maine Central guar" stock of $250,000. Dividends in year 1895-96, 7 p. o.
antees $300,000 Portland Union Ry. Station bonds.
B u f fa lo R o c h e s te r Sc P it t s b u r g R a i l w a y . — (See Map.)—Oper
ates from Buffalo and Rochester, N. Y., to the bituminous coal regions;
E arnings.—3 months ending Sept. 30:
3 mos.
Gross
Net
Other inc, Int , etc.
Bal.fordiv.
Lines owned in fee—
Miles.
Leased—Entire sVk own'd— Miles,.
1898..........$5,426,972 $1,850,997 $110,587 $1,360,906
$600,678 Buffalo Creek, N. Y., to Howard
Johnsonburg & Bradford RR.~
1897......... 5,665,896
1,917,950
121,712
1,349,466
690,196
Juno., Pa................
86
Howard Juno, to Mt. Jewett. 20
A nnual R eport .—Annual meeting second Wednesday in October. Clarion Juno., to Walston, Pa. 62 Linooin Park & Charlotte..... 10
l
Annual report 1897-98 iu V. 67, p. 686, showed results as follows, the Rochester to Ashford, N. Y ___ 94 Perry RR..................................
Leased—Stock not owned.
operating expenses in 1897-98 including $675,208, in 1896-97 $609,- Four branches to mines............ 14
Trackage—
Cleartleld <fe Mahoning—H
287, and $1,060,663, in 1895-96, spent for permanent improvements.
Erie—Mt. Jewett to Clarion J .. 21
Clearfield to Beech Greek RR. 26
Year Ending June 30.
1898.
1897.
’
1896.
Mahoning Valley R R ............. 2
Miles operated...............................
1,715
1,718
1,717
Passenger department............... $8,461,640 $8,538,278
$9,099,273
Total (ITSee separate statement for this com pany)..................... 33®
Freight department................... 10,201,910
9,975,436
10,343,123
Mails, express, etc......................
1,079,395
1,042,973
Organization , E tc.—Successor in March, 1887, to the Rochester <&
1,017,695
Pittsburg, which was foreclosed in October, 1885. Plan of reorganizaT o ta l......... ............ ................ $19,742,945 $19,556.687 $20,460,091 in V. 41. p. 516. The entire capital stock ($4,000,000) of the Rochester
O per, expenses, e xcl. ta x e s___ 13,723,676 13,609,106
14,547,693 <fe Pittsburg Coal & Iron Co. is owned, the property being bonded fo r
$2,234,000 (see balance sheet, etc., V. 66, p. 1088) and through that
N et earnings.......................... $6,019,269
$5,947,581
$5,912,398 company in May, 1896, control was acquired of the Bell, Lewis & Yates.
Êt
J a n u a r y , 1899.]
RAILROAD
STOCKS
AN D
BONDS.
19
)
90
INVESTORS’
RAILROADS.
SUPPLEMENT.
LVol. LXYIII
Bonds—Princi
INTEREST OR DIVIDENDS.
Date Size, or
Amount
When Due,.
of
of
Par
Rate Per When When Payable, and by pal,
Outstanding
Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
B ú fa lo Creek—(ConcTd)—Con. M $1,000.000 g_ oi
6 1891 $1,000
$238.000
5 g- J. & J. N. Y., Farmers’ L. & Tr Jan. 1, 1941.
Buffalo N. Y. A Erie—See E rie R ailroad .
Buffalo Rochester A Pittsb urg—Common stock........
100
6, 000,000
Pref. stock, non-cum.; com. 6%; then pro ra ta ...
100
6,000,000 2 in 1898 F. & A. N. Y., 36 Wall Street. Aug.15,’ 98,1%.
R. & P. 1st M , gold, Rochester to Salamanca___o* 108 1881
1,000
1.300.000
6 g. F. & A. N. Y., Union Trust Co. Feb. 1, 1921
R. & P. consol, mort., $20,000per mile,gold, g.o* 276 1882
1,000
3.917.000
J. & D.
do
do
6
Deo. 1, 1922
B. R. & P. 1st general M. ($10,000,000) g ... U n c* 276 1887
1,000
4.407.000
M. & S.
do
do
Sept. 1, 1937
Debentures, $3,000,000, currency,call at 105.0”
1897
1,000
1.000,000
I®'
J.
&
J.
New
York,
Jan. 1, 1947
Lincoln Park & Charlotte 1st mort.,gold,guar.o*
10 1889
1,000
350.000
J. <& J.
do
do
Jan., 1939
Perry Railroad 1st mortgage, guaranteed.......
1 1882
1,000
20,000
? * • J. & D.
do
do
June, 1902
Real estate mortgage............................................
Var’us
304.000
5 & 6 Various
Rochester,
N.
Y.
Various.
B. R. & P. car trusts,gold..................................
’90 ’98 1,000
709.000
5
J. & D.
do
do
1899-1908
Buffalo St. Marys A Southwest’n—Stock, $1,000,000
fO
1, 000.000 6 Jan.’ 99
Jan.
3, ’ 99,6%
1st mortgage, gold.................................. .
C e. o*
46 1897
1,000
1 , 000,000
5 g* F. & A. N. Y., Central Trust Co. Feb. 1, 1927
Buffalo A Susquehanna—Stock, $2,000,000............
50
1.518.000 5 inl899 Feb.
Feb.,
1899,5%
1st m.,$2,000,000 g., s. f.,subj. to call at par.o*&r 112 1893 500 &e.
1.134.000 . . 5 g A. & O. ' N. Y., H. Fisk & Sons.
Oct., 1913
Burlington Cedar Rapids A Northern—Stock..........
_
.. . 100 5.500.000
4
in
1898
F.
&
A.
N.
Y.,
Com
Exch.
Bank.
Feb.
1,
’99,4%.
1st mortgage.......................................................c*&r 869 1876 lOO&c.
6.500.000
5
J. & D. N. Y., Central Trust Co. June 1, 1906
Ced. Rap. I. F. &N. W., IstM. g., guar.,red. at 105
55 1880
1,000
825.000
A.
&
O.
do
do
%
«
•
Oct. 1, 1920
ConsoLlstM., gold, guar. (See text) $4,000,000.c
1881
1,000
1.905.000
& O.
do
do
Oct. 1, 1921
B.C.R.&N.con.IstM. &col. trust,gold.......... o*&r
« g* A.
All 1884 i,ooo&c
6.425.000
A. & O.
do
do
Apr. 1, 1934
Minneapolis & St.Louis,1st mort.,gold (assumed)
12 1877
500
150.000
7 g. J. & D. N. Y. Continental N. Bk. June 1, 1927
B usk Tunnel By .— 1st mort., gold, red. at 105.... o*
1890
1,000
1.250.000
7 g. J. & J. July, 1896, not paid. July 1, 1935
Butte Anaconda A Pacific—Stock $1,000,000........
100
1,000,000
......
See text.
1st mortgage, $3,000,000........................................
. . 1893
See text.
1923
Calgary A Edmonton—1st mort. 6s, red. at 1 1 0 ...! 295 1890
£100 £1,121,700 See text. J.
Lon.,Morton,Chap.
&
Co
July
1, 1910
Cal. Sorthw.—IstM ., g. ($2,000,000, gu. p.&i.) s.f.
60 1898 $1,000
(?)
5 g- A. & O. San Fran. & New York. Apr. 1, 1928California Pacific—See Southern P acific RR.
Cambria A Clearfield—Stock, $2,150,000 auth .
50
50
1,300,550
1st M. ($2,000,000) gold....................................... o*
80 1891
1,000
1.279.000
5 g- J. & J. Phila., Broad St. Stat’n. Jan. 1, 1941
Camden A Atlantic— See West J ersey & S ea Sho RE.
Camden A Burlington County— Stock, 6 p. ct. guar.
30
25
381,925
6
J. & J. Phila., Broad St. Stat’n. Jan., ’99, 3%
1st mortgage. $350.000, gold, gu.p.&i.by P.RR.c*
30 1897
1,000 1,
350.000 I
4 g. F. & A.
do
do
Feb. 1, 19 2 7
B u f f a lo R o c h e s t e r & P i t t s b u r g R y , - ( C oncluded .)
B u s k T o n n e l R y . —Owns road from Busk to Ivanhoe, Col. 2-9
properties, incorporated as the Jefferson & Clearfield Coal & Iron miles, including 1/78 miles of tunnel, opened Deo., 1893. Interest h as
Co. (see Miscellaneous Cos.) with $3,000,000 stock and $3,000,000
since Juiy, 1896, and to Jan., 1S99, the terms offered
bonds. The B. R. & P. Ry. controls the coal output from over 30,000 bonds bv Colorado Midland reorganization ulan (V 64. d. 1224.) had not
acres o f bituminous coal lands in Jefferson and Clearfield counties. Pa. been accepted. Bondholders’ Committee: Messrs. Laoklan. Y oun g
V. 62, p. 908; V. 63, p. 115. Clearfield & Mahoning securities are guar Rowe, A. E. Hambro and J. A. Bryce request deposits. V. 67, p. 1109^.
anteed. As to contract for construction o f All. & Western, see below.
B u r l l n g t o n C e d a r R a p id s Sc N o r th e r n R y . — Operates:
D ividen ds —On pref.,in 1892,5; in 1893, Feb., 1H p. o.; in 1897,
Lines owned in fee—
Leased—All slock owned—
Aug., 1 p. c.; in 1898, Feb. 15,1 p. c.; Aug. 1 5 ,1 p. c. V. 65, p. 234.
Burlington, la., to State Line,
Iowa City & Western RR.,
B onds.—General 5s for $5,593,000 are reserved for prior bonds, etc
Minn, (less 11 miles leased)..230
Iowa
City to What Cheer,&o.
75
The $3,000,000 debentures of 1897 are to be secured by any subse Branches owned to PostvUle,
Cedar Rapids, I. F. & N. W.,
quent mortgage made except if made for refunding existing prior liens
Riverside, Holland, etc..........204
Holland,
la.,
to
Watertown,
or for extensions exclusively; debentures are subject to call at 105,
Leased—
So. Dak., &c..........................
any January or July. See V. 64, p. 706. R. & P. income 6s, $5,000.
Manly Jo. to Norwood............. 11 Ced. Rap. & Clinton RR., Ac. 493
111
G eneral F inances.—In June, 1897, $1,000,000 debentures were State Line to Albert Lea, Minn. 12
sold and floating debt of $900,OuO paid off.
Total
operated
Jan.
1,1897.1,136
Iu 1898 a contract was approved with the Allegheny &
H isto r y .—Successor to the Burl. Ced. Rap. & Minn., foreclosed 1876.
Western Ry. for the construction of an extension of 60 miles from
Authorized, $30,000,000; outstanding, $5,500,000; par, $100
Punxsutawney westerly to Butler, Pa., from which place to New
The
Rock Island Co. is understood to be a large stockholder.
castle, Pa., the Pittsburg & Western will be used under a track®g© agreement and connection
made at Newcastle with
D ividends — (1893. 1894. 1895. 1896. 1897. 1898.
1899
an extension of the Lake Erie & Western Ry., forming a western
P ercent.
\ 3.
3.
3
4
4
4
Feb., 4 (2 ext.)
outlet for coal. When completed, about July 1,1899, the All. & W.
B
onds.—Cedar Rapids I. F. A N. W. bonds are guaranteed (p. & i )
will be leased to B. R. & P., which will guarantee 6 p. ct. on stock and and so endorsed; the 6s are subject to call at 105; of the 5 per
4 p. ct. on bonds. V. 66, p. 335, 759. (See this Sup., Al. & W.)
cents of 1881 $825,000 are reserved to retire the 6s and certain others
E arnings .—5 m onths, ) 1 8 9 8 ......... gross, $1,716,627; net, $621,116
are deposited as collateral under the B. C. R. & N. consol, mort.
July 1 to Nov. 30.
$1897.........gross, 1,613,044; net, 596,141
Of the B. O. R. A N. 5s o f 1884 (Central Trust Co., Trustee», bonds are
A nnual R eport .—Fiscal year ends June 30. The annual meeting is reserved to retire, if deemed best, all prior and divisional bonds F or
extensions
bonds may be issued at $15,000 per mile for single and $7 held at New York on the third Monday in November. The report for
1897-98 was given at length in V. 67, p. 423, 432. In 1897-98 carried 500 per mile for second track, the total author, issue not being limited
4,092,852 tons of bituminous coal (out of 5,874,173 total tons of freight
Minneapolis A St. Louis bonds due June, 1927, numbered from 1 101
moved), against 2,949,582 in 1896-97.
to 1,400, for $500 each ($150,000 in all), have been assumed.
Year end. June 30— 1898.
1897.
1896.
1895
E aunings.—11 months,) 1898
Gross, $4,146,259; net, $1,317 678
Gross earnings........... $3,683,590 $3,311,766 $3,141,888 $3,028,216
Jan. 1 to Nov. 30.
51897
Gross, 3,920,782; net, 1,137,625
Net earnings............... $1,122,018
$961,524 . $856,976
$756,927
A nnual R e p o r t .—Fiscal year ends December 31. Annual meeting
Other income..............
22,514
35,510
37,889
38,225 s held on last Tuesday in May. Report for 1897 was in V. 66, p. 570.
Fear
ending Dec. 31— 1897.
1896.
1895.
1894
Total reoeipts.......$1,144,532
$997,034
$894,865
$795,152 Gross earnings.......... $4,292,162 $4,450,035
$4,450,035 $4,504,332
$4,504,332 $3,748.8*29
Interest on bonds___ $665,966
$598,777
$603,901
$1,083,303 $1,454,372
$1,454,372 $1 026 612
$596,271 Net earnings.............. $1,243,330 $1,083,303
Int. on floating debt..
4,264
46,705
40,031
28,205
49,480
37,197
45,860
28,205
31,252 Other receipts..........
49,480
Rentals.......................
121,981
120,665
127,460
124,960
Dividend on pref.......
120,000
Total net income.. $1,283,361 $1,111,508
1,503,852 $1,063,809
Interest on debt.......
799,400
807,673
811,080
811,280
Balance....................sur.$232,321 sr.$230,887 sr.$117,644 sr.$42,669 Dividends................ (4) 220,000 (4)220,000 (3) 165,000 (3) 165,000
—(V. 67, p. 72, 273, 3 1 6 , 4 2 3 , 4 3 2 , 954, 1108.)
Miscellaneous........
472
1,642
—
1,103
B u f f a lo St. M a r y ’ s * S o u t h w e s t e r n R R . — Clermont, Pa., to
Surplus.................. $263,489
$82,193
$527,772
$86,426
Hyde, 46 miles; trackage, Erie R R .,H yde to Shawmut, Pa., 5 miles; Cash assets prev.yr.
546,694
754,812
335,374
333,601
total operated, 51 miles. A consolidation January 29, 1897, of the Improvements, etc.
20,781
146,677
133,240
5,895
St. Mary’s & Southwestern RR. and Buffalo & St. Mary’s RR. Operated
in connection with coal lands in Elk Co., Pa., which are controlled in Tot. sur. Jan. 1,’98. $789,402
$690,328
$729.906
$414,132
same interest and are said to have a daily capacity of 3,000 tons.
p. 9 4 8 ; V. 66, p . 5 7 0 ;
E arnings.—Eleven months ending Nov. 30,1898. gross, $292 510B n t t e A n a c o n d a & P a c ific R y . —Operated in May, 1897, Butte
net. $186,491. Year ending June 30, 1898, gross, $304,906; net, to Anaconda, 26 m iles; branoh. Rocker to Butte Hill, about 9 miles»
$108,951. Annual interest charges are now $50,000.
In June, 1898, it was reported that the line from Anaconda to Stuart,
Securities . -Stock, $1,000,000, par $50; all outstanding. First Mont., formerly part o f Mont. Union Ry. was being operated as the
dividend paid Jan. 3,1899, 6 p. c.
Stuart Branch. Bonds authorized at $40.000 per mile. Capital stock
Bonds are $1,000,000 5s, gold, limited to $20,000 per mile, and are $1,000,000 (par $100). On June 30, 1897, the Great Northern owned
subject to call after 1902 at 105 and interest for a ^inking fund of 1 $490,000 8took and $1,000,000 bonds, and June 30, 1897, $700,000
per cent yearly. They also cover coal lands above mentioned.
bonds additional were outstanding as collateral for $627,620 loan»
President, B. Frank Hall, St. Mary’s, Pa.—V. 67, p. 1108 ; V. 68, p. 84. and bills payable; Anaconda Copper Mining Co. owned $510,000 stock.
For year ending June 30,1893, gross, $937,544; net, $ »95,293; taxes»
B u f f a lo Sc S u s q u e h a n n a R R , — Owns from Keating Summit, $5,813; interest on bonds and loans, $71,222; balance, surplus, fo r
on the Western New York & Pennsylvania RR., to Ansonia, year, $418,263. Dividends at 6 per cent per annum in 1897-98.
Pa., on the Fall Brook RR., 62 miles; Galeton to'W ellsville, on Erie
C a lg a r y Sc E d m o n t o n R y . —Owns from Calgary, Canada, to RR., 37 miles, with branches 13 miles ; Wharton, Pa., to Bailey Run 4
m iles; leases Addison, N. Y., to Galeton, Pa., 46 miles; total opér Edmonton, Can., 191 miles, and to Fort McLeod, Can., 104 miles.
Leased
at cost of operating July 1,1896, for 5 years to Can. Paoifio, V.
ated, 162 miles. The road affords outlet for an extensive timber sec
tion (upwardsof 200,000 acres), to Buffalo, New York and Philadelphia. 62, p. 1086. The Government subsidy (of £16,000 per «.nnnm for 20
Addison & Pennsylvania was purchased in 1898 by the owners of thé years) and total net earnings will be applicable to payment o f in
Buffalo & Susq. and leased for 25 years. (V. 66, p. 1042; V. 67, p. 427.) terest, the balance of any coupon to receive scrip—redeemable out o f
surplus earnings. On Jan., 1897, coupon 1 p. c. was paid; on July,
D ividends —
> 1895.
1896.
1897.
1898.
1899.
’97, coupon, m p. o. Jan., 1898,1% p. c. was paid, an l in July, 1898,
paid in Jan., %
5
4
5
5
Feb. 5% Feb., 5%.
2 p. o. The land grant was 1,888,448 acres, of which 407,402 acres un
B onds.—Mortgage, V. 57, p. 639, and application to N. Y. Stock sold was held (Oct., 1896,) by Government against subsidy. Stock
Exchange, V. 58, p. 1036. Bonds cannot be issued to exceed $15,000 $1,000,000, par $100. In 1897-8, gross, $357,587; net, $194,379. Re
per mile o f road completed and equipped. The mortgage is also a lien port for 1896-7, (7. 65, p. 1170) show ed: net, $67,315. (V. 67, p. 27.)
on about 89,394 acres o f timber lands, estimated as worth $1,700,000.
C a l if o r n ia B a s t e r a R R . —Owns 30 m „ from Blake to Manvel
The sinking fund retires each year as many bonds as indicated by Nev., operated in October, 1898,'and $684,000 5 per cent bonds, said to
dividing total outstanding by the number of years the bonds have yet have been sold for extension to Calivana, Nev., 47 miles. Areorganizato run, purchasable in the open market, or subject to call at par in tion in 1896 o f the Nevada Southern Ry. Stock, $588,800.
order o f numbers, beginning with the highest. V. 65, p. 234. To Oct
C a lif o r n ia Sc N e v a d a R R . —See Y. 63, p. 29.
1898, $336,000 firsts had been retired by sinking fund.
C a lif o r n ia N o r t h w e s te r n R y . —Operates under lease the San
E arnings .—5 months, ) 1898............ Gross, $352,047; net, $104,395
July 1 to Nov. 30.
51897............ Gross, 301,707; net, 147,7a0 Francisco v tforth Pacific Ry., extending from Port Tiburón, Cal.
(whence ferry to San Francisco, 6 miles), to Ukiah, Cal., 106 miles, and
R eport .—Report for 1897-8, gross, $625,692; net (overtaxes), $261,- branches, 59 miles. Also, in 1898, was about to build an exteasion o f
952; interest, $61,544; sinking fund, etc., $90,548; dividends, $75.900 60 miles into the iedw ood forests of Mendocino and Humboldt count»
In 1896-7, gross, $579,798; net, $293,175.—(V. 67, p. 8 5 3 .)
ies. Cal. Incorporated in March, 1898. Stock authorized, $3,000,000»
J a n u a r y , 1899. J
RAILROAD
STOCKS
AND
BONUS.
21
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g I m m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
Bonds—Prinei
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
When Due.
Amount Rate per When Where Payable, and by pal.
of
Par Outstanding
For explanation of column headings, &c., see notes of
Stocks—Last
Road. Bonds Value.
Cent. Payable
Whom.
on first page of tables.
Dividend.
$3,000,000
Canada Atlantic—Stock ($1,000,000 is pref.)..........
$ ........
1,000
3,450,000
1st mortgage, gold (see V. 62, p. 277).F .......... c* 138 1889
5 g. J. & J. N.Y.,Bk.Mont., & Mont. Jan. 5, 1909
1,000 Worthless.
Canada Mxch. <t Chic.—1st mort. See V. 63, p. 838
....
100 15,000,000 2 in 1898 F. & A. N. Y., Gr. Cent. Station. Feb. 1,’ 99,1%
Canada Southern—Stock............................................ , 459
1st M. $14,000,000 (Can. money). SeeV.63.p.l88. 404 1878
1,000 13,925,000
5
J. & J. N. Y., Union Trust Co. Jan. 1, 1908
5,650,000
M. & S. N. Y., Union Trust Co Mch. 1, 1913
2d M. for $6,000,000. Canad n money. Do.do.c&r 404 1883 l,000&c
5
16 1895
Learn. &St. C lairlstM ., gold, gu., p.&i.(end)....c*
1,000
130,000
4 g. A. & O. Montreal, Bk. of Mont. Oct. 1, 1945
....
100 65,000,000 413 in ’98 A. & 0. N. Y., 59 Wall St. A Lon. Oct. 1, ’98, 2%
Canadiern P a c ific —Stock (See text)....................... . . . .
....
Pref. stock limited to 4 p. c., non-cumulative. ...r . . . .
16,644
4
A. & O. London, Co.’s Office. Oct. 1, ’98,2%
Can.Cent. RR. 1st and 2d morts., 1st M. s.f.,dr. at 105 269 ’79-’80 ÄlOO&o
1,823,333
5 & 6 Various
Montreal.
1899 A 1910
Quebec Prov. due on Q. M. O. & O. and N. S. RR. 370 ’82-’83 . . . .
7,000,000 413 & 5 A. & O.
do
Mar.1,1904-06
1881 500 &c.
Can. Paciflo, land mort, gold (redeem at 110)—
3,421,500
5 g- A. & O. Montreal,N. Y. or Lond’n Oct. 1, 1931
1st mortgage debenture sterling......................... 3,22Ì 1885 £100 &o 34,998,633
5 g- J. & J. London, Baring B. A Co. July 1, 1915
1st mort, on Algoma Branch, gold...............o*&r 183 1888 £100 &c
3,650,000
do
do
July 1, 1937
5 g- J. & J.
Land grant bonds, int. gu. by Can. Gov’t...o*<fcr . . . . 1888 £100 &c 15,000.000
31ag. J. & J.
do
do
July 1, 1938
1889
Consolidated perpetual debenture stock............
4
47,562,736
J. & J. London, Comp’ys office. Irredeemable.
Securities of P rincipal L eased L ines.
Manitoba S. W. Col. R’y $12,000 p. m., int. guar.g 218 1884
1,000
2,544,000
5 g. J. & D. N. Y., 59 Wall & London June 1, 1934
Atlantic & Northwest—1st mort, gold, guar..c*&r 350 1887 £100 &c £1,330,000
5 g- J. & J. London, Baring R A Co. Jan. 1, 1937
North Shore Ry.—1st M. C. P. owns $610,767... 205 1883
£100
$616,120
A. & O.
5
do
do
Apr. 20,1904
58 1876 £50 &c
St. Lawrence & Ottawa—1st mort., gold, see text
£200,000
(6) 4 15J.&D. Can. Pao. office, London.
Bee text.
....
Ontario & Quebec stock guaranteed in perpetuity
$100 $2,000,000
6
J. & D. Montreal and London. Deo., ’98, 3%
.. ..
Ont. & Que. deben., interest guar, in perpetuity.. 67Ï
J. & D. London, Morton, Rose. Irredeemable.
£4,007,381
5
Toronto Grey & Bruce, 1st M., gold, int. as rental. 191 1883
£100
£719,000
4 g. J. & J. Toronto and London. July 26, 2882
New Brunswick Ry.lstM .,gold,int.fromrental.0* 174 1884
£100
£630,000
London.
Aug. 1,1934
5 g. F. & A.
....
Perpetual consol, debent, stock, int. guar.......... . . . .
£847,872
J. & J.
do
4
Irredeemable.
Cape Fear <£ Yadkin Val.—1st M.,series A,gold.o*<fcr 150 1886 $1,000
1,500,000
J.
A
D.
Dec.,
’93,
coup, purch’d June 1, 1916
6 g.
73 1886
1,000
do
do
1st M., Ser. "B , ’ gold (2d on 233 m .).............. c*<fcr
734,000
June 1, 1916*
6 g. J. & D.
82 1886
1st ., series C, gold (2d mort, on 225 miles.).o*<fer
1,000
do
do
820,000
June 1, 1916
6 g. J. & D.
1,000
Consol, mort., $Ï5,000 per mile, gold.............o*«fer 329 1889
A. A O.
do
do
1,868,700
Oct. 1, 1919
’81-’94 1,000
See text.
?*• J. A J.
1920
v 1st consol. M., $3,000,000, gold, guar. p. & i. . .F 267 1898
1,000
(Î)
4 g- J. & J. 1st coup. pay. July, ’99 Jan. 1, 19491893
Wilmington Ry. Bridge, 1st mortgage, consol..
1943
216.000
5
A. <fe O
par, $100. Bonds. $2,000.>0'> authorized, issuable at $25,000 per m ile ’
to be guaranteed by -an Francisco & North Pacific, leased for net pro fits
for 20 years from Sept. 20, 1898 Pres., G. Palache; V.-Pres., Geo. A.
P o p e ; Sec. and Comp., Thos. Mellersh.—V. 67, p, 370, 688, 788.
C a l i f o r n i a P a c ific f l y . — See Southern P acific RR.
C a m b r ia Sc C le a r fte ld R R . — Cresson to Glen Campbell Junotion,
48 miles; branches, 49 miles. Stock (par $50) paid in $1,300,550 all
owned by the Pennsylvania RR. Co., which operates the property under
an arrangement terminable at option of either party. Net earnings are
paid as rental. A full abstract o f the mortgage was in V. 52, p. 976. in
year 1897, gross, $308,621; net, $87,384; interest and taxes, $78,914.
In 1896 gross $326,840; net, $104,812.
C a m d e n Sc A t l a n t i c R R . — See W est J ersey & Sea Shore .
C a m d e n Sc R u r l l n g t o n C o u n t y R R . — Owns from Camden, N. J.,
to Pemberton. N. J., 23 miles; branch, Burlington, N. J., to Mount Holly,
7 miles; total, 30 miles. Operated by the Pennsylvania RR., which
guarantees 6 per cent on stock. Stock, $381,925; par $25. Dividends
in January and July. In 1896, gross, $242,504; net, $21,500; loss to
lessee under rental, $22,915. In 1895 gross, $248,783—(V. 64, p. 373.)
C a n a d a A t l a n t i c R y . — Owns Ottawa, Canada, to Alburg, V t.’
Including bridge over St. Lawrence river, 147^ miles. Uses Vermont
& Province Line Ry. to Swanton, Vt., there connecting with Boston A
Maine and Maine Central systems. Also has trackage Lacolle to
Rouse’ s Point, N. Y., 4 miles, there connecting with the Delaware &
Hudson and Ogdensburg & Lake Champlain systems, fhe company
also runs through trains to Montreal, using the Grand Trunk Ry. from
Coteau. Montreal, 37 miles, under a traffic contract. Leases for 99
years the Central Counties Ry., extending from Glen Robertson to
Ilawkesbury, 21 miles, and South Indian to Rockland, 17 miles.
Ottawa Arnprior & Parry Sound Ry., built in Interest of this company
from Ottawa to Parry Sound, 260 miles, was completed in Deo., 1896
but no bonds are expected to be issued thereon before 1899.
•H istory .—Incorporated in 1880, and line completed from Ottawa
to Alburg in December, 1897. Stock , $2,000,000 common and $1,000,000 preferred. Earnings in year ending June 30,1897, gross, $722,775;
n et,$247,443. In 1895-96, gross, $612,963; net, $174,359. In 1894-9 5
gross, $583,778; net, $150,337. (V. 66, p. 7 » », »01.
C a n a d a M i c h i g a n Sc C h ic a g o .— Bonds worthless. V. 63, p. 838
C a n a d a S o u th e r n R y .—(See Map New York Central <&Hudson R.
Railroad.)— R o a d — Main line from Suspension Bridge station, includ
ing the Cantilever Bridge to Windsor, Ont., 226 miles; branches to
Courtright, Ont., etc., 233 miles; total, 459 miles, of which 100 miles are
nominally owned by proprietary companies. Trackage, St. Thomas to
London, Ont., 15 miles. Double track, 98 miles.
Organization , Contracts, E tc.—The Company was chartered in
Canada February 28,1868, and debt readiusted in 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. The contract
provided for a re-apportionment every five years, and in December,
1892, it was agreed to give the Canada Southern 40 per cent and the
Mich. Cent. 60 per cent of the first $1,000,000 of net earnings, any
amount over that to be divided on the basis of one-third and two-thirds,
as before. But under the original contract each company is still accorded
all benefit from the reduction in its fixed charges; consequently as the
Michigan Central to Jan. 1,1898, had reduced its charges about $327,000, that amount is credited to it before division is made V. 64, p. 5.
D ividends .—1888 ’89 ’90 ’91 ’92 93’ ’ 94 ’95 ’ 96 ’97 ’98
’99
Since 1 8 8 7 .... 213% 213 3 ^ 2>a 3 3
3 2 ^ 2 ^ 2 2 toFeb.,1.
B onds.—Bonds are payable in Canadian currency.- V. 63, p. 188.
A nnual R eport .—The report for 1898 was in V. 67, p. 1354; Can
ada So. share of earnings, $300,000; other income, $1,600; divi
dends, $300,000; bal., surplus for year, $1,600. In 1897 Canada So
share, $282.402; other income, $1,642 ; dividends, $300,000; balance
deficit, $15,956. Total surplus Jan. 1,1899, $1,600.—(V. 66, p. 1 1 8 6
V. 67, p. 354.
C a n a d ia n P a c i f i c R y . —R oad - -Own a trans-continental railwa
from Montreal to the Pacific Ocean, made up as follows:
Montreal to Vancouver......... 2,905 Operated acct. of ow n ers.... 732
Also controlled but op. sep.—
Branches and auxiliaries— 1,473
Leased lines............................ 2,208 ITMinn. St. P. & Sault Ste. M. 1,175
Used join tly........ ..................
92 liDuluth South S. & Atlantic 58
If See each go ’ s statement.
Total in traffic returns.......6,678
Crow’s Nest Pass. Ry. -Subsidy of $11,000 per mile having been
granted by Dominion Government, Canadian Pacific has built from
Leithbridge, N. W., to Nelson, B. C., 340 miles.—V. 64, p. 1180.
H istory , E tc .—Incorporated Feb. 18,1881, under charter from Do
minion of Canada, receiving $25,000,000 in oash as a subsidy, also
25,000,000 acres o f land, all to be fit for settlement. The Ontario
& Quebec, Montreal to Toronto Junotion, 334 miles, was leased in 1883
for 999 years, and its stock and bonds guaranteed. In July, 1890,
leased the New Brunswick Ry. for 990 years. The Montreal A Ottawa
branch between Ottawa and Alfred, 42 miles, has been operated since
Se pte mber 5,1898.—V . 67, p, 529.
Stock .—The company bought of the Dominion Government an annu
ity of 3 p. c. per annum on the common stock for the ten years 18841893, the last payment having been made in August, 1893. The issuo
of preferred stock must never exceed one half the common stock.
D ividends — ) ’ 83. ’84. ’ 85. ’86-’ 89. ’90-’93. ’ 94. ’95. ’96. ’ 97. ’98.
Common p. c. > 2ha 5
4 3 y’rly 5 y’rly 5
0
2*a 2*« 4 1«.
Preferred p.c. )
Issued in 1894.
4 p. ct. yearly (2 A. & O.)
On common in 1898, April, 2 1a p. o.; October, 2 p. 0.
B onds, D ebenture Stock , G uaranteed B onds, E tc.—In May,
1888, the company relinquished its exclusive right to operate in Mani
toba lines to the International Boundary, receiving the Dominion Gov
ernment guarantee of interest on $15,000,000 of land bonds These
bonds are a lien on 15,444,200 acres of land subject only to $3,426,000
land grant bonds o f 1881, which are redeemable at 110.
List of securities held against consol, debenture stock in V. 66, p. 528,
Canada Central 1st M. 5s mature Oct. 1, 1899, $8505000 outstand
ing; the 2d mortgage is 6 p. 0. for $973,333, due Nov, 1,1910.
In June, 1890, company agreed to guarantee the principal and inter
est 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.) Of
the Dul. S. S. & At. consols it owned Jan. 1,1898, $15,107,000.
To the Atlantic <£ Northwest Railroad, crossing the State of Maine,
the Dominion Government grants a subsidy of $186,000 per year till
1906 and Canadian Pacific guarantees the balance of interest money.
St. Lawrence <£- Ottawa bonds are endorsed with the Canadian Pacific’ s*
acceptance of a 999 years’ lease at a rental sufficient to pay 4 per cent
interest ou bonds, and the bondholders’ agreement to accept Interest
at 4 per cent (instead of 6 per cent as formerly), and to refrain from
demanding payment of principal during continuance o f lease; the ma
turity o f the bonds is June 15,1910.
The New Brunswick Railway consolidated debenture stock ha»
Interest guaranteed by C. P.; interest on the first mortgage bonds,,
though not guar, is naid out of rental under 990 year lease of 1890.
L ands.—Lands unsold Deo. 31,1897, were 16,106,656 acres of Can
adian Pacific grant and 1,173,571 acres of Manitoba South Western grant
and 188,112 acres of Columbia and Kootenay grant. Total sales in
1897 were 199,482 acres for $665,740; in 1896 were 87,878 acres.
G eneral Fin \nces.—The stockholders atthe annual meetingin April,
1898. authorized expenditure of $4,695,225 during 1898 for bridges,
ballasting, terminals, equipment, etc.; also the purchase of the Colum
bia & Western (33 m iles- see V. 66, p. 757) and the building o f a line
from Robson to Boundary Creek, 100 miles.
E arnings.—11 m onths,) 1 8 9 8 ...Gross, $23,467,860; net, $9,196.260
Jan. 1 to Nov. 30.
j 1 8 9 7 ...Gross, 21,726,792; net, 9,250,321
A nnual R eport .—Fiscal year ends Deo. 31. Annual meeting is held
at Montreal on the first Wednesday in April. The report for 1897 in
full was in V. 66, p. 515, 526. See also editorial p. 496.
Year ending Dec. 31.
1897.
1896.
1895:
Miles operated December 31..
6,568
6,476
6,444
Passenger earnings.................. $5,796,115
$4.820,143
$4,683,138
Freight...................................... 15,257,897
13,187,560
11,877,852
2,673,894
Mail, express and miseell....... 2,995,522
2,380,047
Total earnings.................... $24,049,535 $20,681,597 $18,941,037
Per ct. of oper. exp. to eam’gs.
57-16
60-80
60-50
Piet earnings............................. $10,303,776
$8,107,582
$7,480,952
Interest received......................
340,706
511,165
552,912
$10,644,482
$8,618,747
$8,033,864
Fixed oharges.......................... 6,783,367
6,708,084
6,659,478
Contingent interest.................
............
203,890
D ividends................................. 2,964,026
1,612,946
1,231,960
Balance, surplus.
$897,089
$93,827
$142,426
- ( V . 66, p. 573, 7 5 7 ; V. 67, p. 125, 318, 529, 633.)
C a p e F e a r Sc Y a d k in V a lle y R y . — In operation from Wilming
ton, N. C., to Mount Airy, 248 miles; branches to Bennettsville, etc.,
90 m.; total, 338 miles, or which 10 m. leased. Mostly 50-pound steel.
Purchased at foreclosure sale Deo. 29, 1898, in the interest of the
Atlantic Coast Line Co., for $3,110,000 and sale confirmed in Jan.,.
1899. It was understood the new company woulu be called the Atlan
tic & Yadkin Ry.—V. 67, p. 1355; V. 68, p. 84,128.
A nnual R eport .—Fiscal year ends June 30. Report for 1897-98
in V. 67, p. 787, gross, $598,206; net, $158,808; taxes and rental,
$24,578; betterments, $38,704; balance for interest oharges (not paid)
$63,283. In 1896-97 gross, $558,929; net, $82.831. (V. 65, p. 515,
1023; V. 66, p. 899,1187; V. 67, p. 78 7 ,1108,1355; V. 68, p. 84,128.)
C a r o lin a C e n t r a l R R . — Owns from Wilmington, N. C., to Rutherordcon, N.C., 267 miles, of which 2*3 m. (Wil. R. Bridge) owned jointly.
Controlled by Seaboard A Roanoke and Raleigh & Gaston. New stock:
Common, $1,500,000; pref. 5% non-cum., $500,000; par, $100.
Organization .—Reorganized without foreclosure in 1898-99 per
lan in V. 67, p. 273, over four-fifths of the old bonds assenting. The
of dbonds were 1st 6s of 1881, $2,000,000; 1st 6s o f 1894, $250,000;
2ba nd 3d Ms. of 18*1, eaoh $1,500,000.
bonds .—To retire all the old bonds was filed in Nov., 1898, the new
3 000,000 4 per oent mortgage, guaranteed principal and int. by 8eao,ard & Roanoke and Raleigh <fe Gaston. See guaranty in V. 67, p. 273.
INVESTORS*
2 1
SUPPLEMENT
Vol. LX V ili
S u b s c r ib e r » w i l l c o n fe r a g r e a t fa v o r b y g i v i n g I m m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
RAILROADS.
Bonos— Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
Par
of
of
Rate
per
When
Where
Payable,
and
by
Stocks—Last
Road. Bonds Value. Outstanding
on first page of tables.
Cent. Payable
Whom.
Dividend.
24
$500
■ Car. 16 Cumberl. Cap—Prior lien, cur., red. at par. o
1897
$60,000
5
J. A J. N. Y., Atlantic Tr. Co. Jan. 1, 1927
Carolina A Northwest.— Chester & L, 1st mortgage
100,000
7
J. A J.
July 1, 1900
500
1st mortgage, $450,000............................................ . . . . 1897
265,000
5
M. A N.
1927
1,000
Carson <6Colorado—1st M. for $3,500,000,g.,s.f.o*<fcr 300 1892
2,000,000
In default.
4 g. J. <fc J.
July 1, 1941
1,000
Carthage A Adir.—IstM . $1,600,000 g..gu.p,<fci.o*<fcr
43 1892
1,100,000
4 g. J. A D.
New York City.
Deo. 1, 1981
1,000
Carthage Water.A Sack.Har.— 1st M. g.,gu.n.&i.end.
29 1891
300,000
5 g- J. A J. N.Y.,Grand Cent.Stat’n July 1, 1931
1,000
Catasauqua A Fogelsville— 1st mortgage, g .P P .c * _ 1898
135,000
4 g. J. A J.
Philadelphia, Pa.
July 1, 1928
....
50
Catawissa— Pref. stocks, 5% gu. P. A R. Ry . See text.
98
See text.
5
M. A N. Philadelphia Co.’s office Nov. 19,’98,21®
93 1870 500 Ac.
Mortgage bonds....................................................... c
1,300,000
7
F. A A. Phila., Phil. A Read. Ry. Aug. i , 1900
500
1st mortgage (morts. of 1862 extend, in 1882).r* _ 1882
230,000
6
F. A A.
do
do
Aug. 2, 1902
103 1898
1,000
1st consol, mort., $2,215,000, gold........... P P .o *
685,000
A. A O.
do
do
Apr. 1, 1948
i g- F.
C atskill Mountain—First mortgage..........................
16 1885
50,000
5
A A. C’ skilljN.Y., Tan.NLBk. Aug. 1, 1905
1885
238,000
6
Divid’d pd. Sept. 10,’97. Aug. 1, 1915
34
30
Cayuga A Susy.— Stock, 9 p. o. rental D. L. & W ___
589,110
9
J. A J. New York, 52 Wall St. Jan., 1899, 4*3
C entral Branch Union Pacific Ry.—Stook.............
2,.*00,000
i,ò b o
1st M., $2,500,000, gold, not subj. to call. Vn..c* 100 1898
2,500,000
4 g. J. A D. N. Y., Merc. Trust Co. June 1, 1948
C e n t, o f Georgia R y —1st M.,$7,000,000, g.c*<fcr. 312 1895
1,000
7,000,000
5 g- F. A A. N. Y. GuarantyTrust Co. Nov. 1, 1945
1,000 16,500,000
Consol, mortgage, $18,500,000, g old .............o*&r 1,119 1895
do
5 g- M. A N.
Nov. 1, 1945
1,000
Mobile Division 1st mortgage ($1,000,000). ..g.o* 124 1895
1,000,000
do
5 g- J. A J.
Jan. 1, 1946
1,000
Macon & North. Div. 1st mort., $840,000, gold.o* 106 1895
840,000
J. A J.
do
Jan. 1, 1946
5
g1,000
Mid. Ga. & At. Div. 1st M.,$9,000 p. m.,cur.,.Go* Text. 1897
413,000
5 our J. A J.
do
Jan. 1, 1947
21 1896
100
Eatont.Br.lstM.not guar.by Cen.Ga^g.,call par
168,000
J. A D.
19^6
T 5 g’
1st pref., incomes 1 Interest up to 5 p. c., c*
1895
1,000
4,000,000 X
Up
to 5 Oct. 1 Oot. 1, ’ 98, paid 2 p. c. Nov. 1, 1945
2 d do
do
Sif earned,
o*
1895
1,000
7,000,000 Up to 5 Oct. 1 New York, when earned Nov. 1, 1945
.Sd do
do
)
non-cumulative.
c*
1895
1,000
4,000,000 Up to 5 Oct. 1
do
do
Nov. 1, 1945
Cent. RR.& Bk.coll.trust bonds, g o .,r e d .a tll0 .c ,‘ . . . . 1887
1,000
4,880,000
5 g. M. A N. N. Y., Guaranty Tr. Co. May 1, 1937
Guaranteed, efc., securities.
Ocean S8. Co. 1st mortgage, gold, guaranteed...o . . . . 1890
1,000
1,000,000
f g. J. A J. N.Y., Guaranty Tr. Co. July 1, 1920
Augusta & Savannah stock (no bonded debt).......
53
100
1,022,900
5
J. A J.
Savannah, Ga.
Jan .,’ 9 9 ,2*3%
•Southwestern of Georgia stock (no bonded debt) 332
100
5,191,100
5
J. A J. Savannah and Macon. Jan .,’9 9 ,2^3%
Central Massachusetts—Pref. stock (see text)..........
100
3,949.900 l^a in ’ 98 J. A D. Boston, 53 State St. Deo, 1,’98, %%
99 1886
1st mortgage.......................................................... c*
1,000
2,000,000
5
A. A O.
Oct. 1, 1906
New bonds, debentures, $500.000......................... . . . . 1895
1.000
100.000
5
A. A O. Boston Office A Int. Tr.l Oot. 1, 1906
f o r explanation of oolumn headings, Ac., see notes
Bridge bonds guaranteed by Carolina Cent., Wil. Col. & Aug. and Wll.
& Weldon; consols being substituted for the old 1st and 2d mortgage
4>onds; $20,000 consols were also reserved for new draw for bridge, of
■which $16,000 have been issued.
E arnings .—In year ending June 30 earnings have been as follow s:
Gross.
Net.
Charges.
Balance.
1896-97..................$607,135
$139,311
$116,332
sur. $22,979
185,138
117,082
sur. 68,056
1895-96................. 587,695
— (V. 67, p. 273, 735, 842, 954.)
C a r o li n a Sc C u m b e r la n d G a p R y . —Leased by the Southern
¡Railway and operated since July 1,18^8, as part of the Columbia
Division. Income bonds, $150,000. V. 67, p. 124, 427.
C a r o li n a m i d la n d R y . — Owns road in operation from Allen
dale, S. O., to Seivem, S. C., 55 miles. Stock, $540,000; par, $100.
O n ; March 4, 1897, turned over to its officers. Jan. 1 to Nov. 30,
1898 (11 months), gross, $59,978; net, $17,315. Jan. 1 to Deo. 31,12
months,.gross, $59,278 in 1897; $59,449 in 1896. Year ending June
-30,1897; gross, $31,302; net. $17,322; charges, $11,629—V. 63, p. 357.
C a r o lin a Sc N o r t h w e s te r n R y . — Owns narrow gauge road
•Chester, S. C., to Lenoir, N. C., 110 miles. Reorganization Feb. 28,
1897, o f Chester & Lenoir, foreclosed. Stock, $350,000; par $50.
June 30,1897, income bonds, $25,000; current liabilities, $22,365;
«current assets, $13,822. Year 1897-98, gross, $115,939; net, $37,306.
—(V. 64, p. 180).
C a r t h a g e Sc A d i r o n d a c k R y . —(See Map N. Y. Central.)—Owns
from Carthage to Newton Falls, New York, 46 miles. The entire stock,
8500,000, is owned b y the New York Central RR., which in April,
1893, leased the property in perpetuity and guaranteed its $1,600,000
bonds, of which $500,000 were for extensions, etc. (V. 57, p. 218.)
C a r t h a g e W a t e r t o w n Sc S a c k e t t ’ s H a r b o r R R . — (See Map
N. Y. Central.)—Owns from Carthage to Sackett’s Harbor, N. Y., 29 miles.
•Controlled by N. Y. Central, which owns $483,300 of the stook and
.guarantees the bonds. Leased to R. W. A O. for 37*$ p. o. of gross
earnings. Rental in 1897-98, $44,163; in 1896-97, $36,083; in 1895-96,
-837,421. Capital stock $465,845 common and $21,500 preferred.
C a t a w ls s a R R . — Owns from Tamanend, Pa., to Williamsport, Pa.,
.93 miles, and branches, 10 miles. Re-leased Deo. 1,1896, for 999 years
to Philadelphia & Reading Railway. Rental, interest on the bonds, 5
p. o. dividends on the preferred stock, all taxes, and $8,000 for
organization expenses. Bee also V. 63, p. 969,1116. Of the preferred
stocks in 1897 $2,200,000 was first preferred and $1,000,000 second
preferred and common was $1,159,500; par $50. Of the new 1st consol,
mortgage 4s o f 1898, $1,530,000 are reserved to retire 7s and 6s due
1900 and 1902, and $685,000 remainder issued in exchange for re
maining bonds o f the oompany. Y. 66, p. 1139; Y. 63, p. 924, 969.
C a t s k i l l m o u n t a in R a i l w a y . — Owns narrow-gauge road from
Catskill, up the Catskill Mountain, to Palenville, N. Y., 16 m iles; leases
Cairo RR., Cairo Junotion to Cairo, N. Y., 4 miles; total, 20 miles.
Stock. $89,000. There are also second incomes for $15,600 6 p. o.
¿first incomes have one vote for each $100. E arnings.—Year ending
June 30, 1898, gross, $47,846; net, $13,420; interest, taxes, etc.,
$13,331; balance, $89. In 1895-96 gross, $56,986; net, $16,577.
C a y u g a Sc S u s q u e h a n n a R R . — Owns from Susquehanna River
to Ithaca, N. Y., 34 miles. Leased during length o f oharter and renew
als thereof to the Delaware Lackawanna & Western at a rental of
$54,600 a year. On Deo. 30,1897, the corporate existence of this
oom pany was extended for the period o f 50 years from Jan. 1,1900.
C e n t r a l R r a n c h U n io n P a c ific R y . — O wnsfrom Atcnison, Kan.
t o Waterville, Kan., 100 miles.
Organization .—Organized in June, 1898, per plan in V. 66, p. 1139,
as successor of Railway company foreclosed. Missouri Paoiflc owns
the capital stook. —V. 67, p. 1108. Interest charge, $100,000 per a.Tinnm
Earnings.—On 100 miles. f 1897....... Gross, $558,897; net, $247,709
Jan. 1 to Nov. 30— 11 mos. f 1896....... Gross, 395,707; net, 180,049
In year 1897 gross on the 100 miles owned were $612,666; net.
$271,50e. In 1896 gross, $445,921; net, $209,588. —V. 67, p. 1108.
C e n t r a l o f G e o r g ia R a i l w a y . — ( See Map) —System includes :
Lines owned in fee.
Miles. I Lines leased—
Miles.
Savannah to Atlanta............. 295 I Southwestern o f Ga. RR.—
G ordon to Covington.............
82
Macon to Eufaula.......... .
144
•Columbus to Birin’gham, A la. 156
Fort Valley to Perry..........
12
Columbus to Amenous..........
62
Fort Valley to Columbus...
71
Montgomery to Euf aula, Ala.
79
Smithvilleto Colum bia....
85
Columbus to Greenville, Ga.
50
Cuthbert to Fort Gaines...
20
Opelika to Roanoke...............
36 Augusta & Savannah RR.—
Eufaula to Ozark....................
60
Millen to Augusta...............
53
Griffin to Carrollton...............
60 Propr’ y Line—Upson Co.RR.
Savannah to Tybee.................
18
Bamesville to Thomaston..
16
•Columbus to Searight............ 122
Macon to Athens.................... 102
Total operated.................. 1,523
Ocean Steamship Company,
Total owned (and oper’d)*. 1,122
estimated equivalent o f ___ 300
* In addition owns in fee Meldrim to Lyons, 58 miles, now leased to
G eorgia A Alabama RR., making total mileage owned, 1,180 miles.
O rganization —Organized Oct. 17,1895, and Nov. 1 succeeded to the
properties of the Central Railroad A Banking Co. of Georgia, sold in
foreclosure and reorganized per plan in V. 60, p. 1008 and V. 61, p. 68.
Middle Georgia A Atlantic (Milledgeville to Covington, Ga., 65 miles)
was purchased Jan. 1,1897. V. 65, p. 324; V. 62, p. 456; V. 64, p. 82,
180. As to rights in lease of Georgia RR., see V. 65, p. 924. In 1898
purchased the entire $250,000 stook of the Bruton & Pineora Ry
projected between Bruton and Pineora, 98 miles, of which Bruton to
Mettar, 47 miles, in operation in January, 1899. (V. 67, p. 687.)
Stock.—$5,000,000, held by interests friendly to Southern Ry,
B onds.—'The first mortgage o f 1895 (described in V. 63, p. 1160) is
a first lien on the main line from Atlanta to Savannah, including the
Milledgeville branch (312 miles in all), all equipment and appurten
ances and the equity in $1,995,000 of the capital stook o f Ocean
Steamship Co. of Savannah. Trustee, Guaranty Trust Co. of New York
Application for listing firsts and consols, on N. Y. Stook Exchange
was given in full in V. 63, p. 1160.
The consolidated mortgage (see abstraot in V. 61, p. 873, also see
V. 63, p. 1160) is a first lien upon 580 miles [including form er
Mont. & Eufaula RR., Sav. & Western and Sav. & Atl.]; also on
the leases o f the South Western and Augusta A Savannah roads and
the stook of New England Steamship Co., and a second lien upon the
main line, its equipment, etc., and also on the Macon & Northern and
Mobile A Girard. It also covers all leaseholds, securities, etc. It may
be increased $2,000,000 from $16,500,000 to $18,500,000, at the rate
of not more than $500,000 in any one year, for betterments and for
equipment. The consolidated bonds are the only fixed charge obliga
tion covering the entire system. Trustee, Mercantile Trust Co. o f N. Y.
Mobile Division bonds are direct obligations of the Central of Georgia
R yy secured by a first lien on Columbus, Ga., to Searight, Ala., 122 m.
Macon <£ Northern Division bonds are also direct obligations o f the
Central Ry., with first lien from Macon to Athens, Ga., 105 miles.
Middle Georgia dt Atlantic Division bonds are issued at $9,000 per
mile, of which $8,000 was for purchase of road and $1,000 retained
b y Cent, of Ga. for betterments; subject to the Eaionton Branch
bonds, $168,000 on 21 miles, the firsts of 1897 cover the 65 miles of
M. Ga. & At. Division. (V. 65, p. 823; V. 64, p. 180; V. 65, p. 324.)
The preference income bonds, subjeot to the prior mortgages, cover
the mam line and the former Savannah & Western, Columbus & Rom e,
Montgomery & Eufaula, Mobile & Girard, Macon A Northern and
Savannah & Atlantic KRs., and their equipment, eto.; also all
leaseholds, securities and equities of properties acquired by the new
oompany;. They are non-oumulative and bear interest not exceeding 5
per cent in any one fiscal year, but payable only out of net earnings
as declared and secured by the deed of trust. On 1st pref. incomes
paid l^a p. c. in Oct., 1896, 2 ^ p. o. Oct. 1, 1897, and 2 p. c. Oct. 1
1898. (V. 65. p. 410; V. 67, p. 529.)
Collateral trust mortgage abstraot was in V. 45, p. 242.
L atest E arnings.—5 > 1898........... Gross, $2,596,105; net, $982,142
mos., July 1 to Nov. 3 0 .) 1897..........Gross, 2,463,560; net, 953,390
A nnual R eport .—Report for 1897-98 in V. 67, p. 687.
Years end. June 30—
1893.
1897.
Gross earnings...................................................$5,507,070
$5,280,696
Total operating expenses............................... 3,433,777
3,271,594
Taxes..................................................................
180,132
180,968
Net earnings from operation...........................$1,897,161
$1,828,134
110,275
From steamships, etc.................
329,807
Total...............................
$2,007,436
$2,157,941
DEDUCTIONS PROM INCOME POR TEAR 1897-8.
Interest on funded debt$l,536,800 I Total aeduot’ sfrom ino.$l,934,292
Rentals, eto...................
397,492 |Net incom e....................
73,144
Officers .—President, H. M. Comer, Savannah, Ga.; Vice-President.
John M. Egan.—(V. 67, p. 5 2 7 , 529, 6 87.)
C e n t r a l M a s s a c h u s e tts B R , — Owns North Cambridge to North
ampton, Mass., 99 miles. The stook is $7,419,202 (par $100), o f which
$3,949,102 is preferred and controls the oompany until 8 per
cent dividends shall have been earned thereon in any one year.
D ividends ..................................... (Jan., 1896. 1896. 1897. 1898.
P ercen t.......................................( l ^ f o r ’95. l ^
lh i
1*2
Leased to Boston A Lowell for 99 years from 1886, at a rental o f 20
p. o. of gross up to $1,000,000, but with a guaranty of sufficient rental
to pay interest. For year ending March 31, 1898, gross earnings
$675,689; rental, eto., $168,203; organization expenses, $1,500; in
terest, $119,088; dividends, $59,146; deficit, $2,587; in 1896-97, gross
earnings, $830,975.—(V. 61, p. 1106.)
C e n t r a l N e w E n g l a n d R R . — Owns from Campbell Hall, cross
ing the Hudson River at Poughkeepsie by its own bridge, to Silvernails, 58 m iles; and leases and controls Hartford A Conn. Western
RR., Hartford to Rhinecliff, 109 miles; total, 167 miles; also Dutchess
Co. RR.. from Poughkeepsie to Hopewell Juno., 12 miles; trackage. 1
mile. The proposed extension from Tariffville, Conn., to Springfield,
Mass., provided for by reorganization plan, will be 18 miles long.
Organization .—Incorporated in January, 1899, per plan in V. 66,
p. 574, and V. 67, p. 789. as successor of Phil. Read. A New Eng. RR.,
sold in foreclosure Oct. 6,1898.—V 68 p. 8 4. In January 1899 per-
BONDS
AND
STOCKS
RAILROAD
1899.]
January,
LN VESTORS’
9 4
SUPPLEMENT.
IVou LXVIII,
S u b s c r ib e r» w i l l c o n f e r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation o f column headings, &c., see notes of
Par
of
Rate per When Where Payable, and by Stocks—Last
Outstanding
on iirstpage o f tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Central New England—Common stock...........
$3,450,000 ) To be h eld in tr ust for ten years, or un til 4 per cent
$ ........
Preferred stock, 4 per cent............. ..............
3,150,000 5 is pai d on gen eral mortgage for two years.
1st mort., $1,250,000, call at 105 after 5 years..
1898
650.000
5
|Not stated.
General mort.. 5 per cent incomes, $8,500,000.
1898
7,163,323
5
Dutohess Co. RR., 1st M., gold, guar (seetext).c
1,000
12 1890
350,000 4*a (6) g. J. & D.
June 1, 1940
1892
1,000
Central N.Y.A Western—1st mort. $1,000,000, g..o*
242,000
5 g. J. & J. Boston, 53 State St.
Jan. 1, 1943
50
Central Ohio—Stock ($411,550 of this is preferred).
2,860,628
J. & J. New York, 54 Wall St. Jan., 1896,3%
1,000
Con. IstM . (for $2,850,000) now 1st lien, g old ..c 137 1886
2,500,000
4Ìflg. M. & 8. Sept.,’98, pd.when due. Sept. 1. 1930
_
100 67,275,500
C en tral P a cifio—Stock for $68,000,000.................
1 J. & J. N. Y., S.Pao.Co., 23 Br*d. J a n , ’99,
< 140 < 1865 1,000
1st mort., ser. A, extended, call, gold___>
2.995.000
5 (6) g. J. & J.
do
do
Deo. 1, 1898
Ser. B, C, D, extended, call, gold_____ < See <
f 1866 1,000
3.383.000
5 (6) g. J. & J.
do
do
Dec. 1, 1899
Series E, gold, extended, 1897, 5s, ca ll) text. < 598 <1867 1,000
3.998.000
5 (6) g. J. & J.
do
do
June 1, 1900
Series F to I, incl., gold, subject to call >
(
( 1868 1,000 15,507,000
5 (6) g. J. & J.
do
do
June 1, 1901
1st M. S. Joaquin Val.Br., g.(s. f.) not drawn........
1,000
146 1870
6.080.000
do
do
6 8. A. & O.
Oct. 1. 1900
¡0. S. Loan (2d lien).................................................... 737 1865
2.362.000
6 g- J. & J. United States Treasury, Jan. 16,1895
do
do
.................................................... 737 1866
1.600.000
6 g . J. & J.
do
do
Jan.
1, 1896
.................................................... 737 1867
do
do
2,112,000
6 g. J. & J.
do
do
Jan. 1, 1897
do
do
.................................................... 737 1868
10,614,120
do
do
6 g . J. & J.
Jan.
1,
1898
do
do
.................................................... 737 1869
9,197,000
do
do
eg - J. & J.
Jan. 1, 1899
'West.Pao., San Jose to Brighton, Cal., series A, g. 123 1869
1,000
1,970,000
6 g. J. & J. N.Y., S.Pao.Co., 23 B^d. July 1, 1899
do
series B, 1st M., to Oakland, gold.......
24 1869
1,000
765,000
do
do
6 g. J. & J.
July 1, 1899
do
Government lien, gold............................ 123 1867-9
1,970,000
6 g - Various United States Treasury. 1897 & 1899
Cah & 0 . 1st M., ser. A, g. (exte’d ) ) s. f. yearly, 296 1868
1,000
5,982,000
5 g- J. & J. N.Y., S.Pao.Co., 23 Br*d. Jan. 1, 1918
Do
do ser. B, g. (exte’d) $ not drawn.. 296 1872
1,000
4,358,000
5 g. J. & J. N.Y.,S.Pao.Co.«fcLondon Jan. 1, 1918
Land grant 1st M., gold, guar., extended in 1890.
1,000
1870
2,204,000
5 g. A. & O. N. Y.,So. Pae. & London. Oot. 1, 1900
Mort. gold 6s, 1936, Id. gr. s. f., not drawn..........
1,000
1886
56,000
do
do
6 g- A. & O.
Oct. 1, 1936
Mort. gohhjis, 1939, Id. gr.,guar., s. f., n otd r’n .c 1,360 1889
1,000 12,283,000
5 g- A. & O. N. Y. & San Francisco. Apr. 1, 1939
Cent. Pa. <&West'n.—Wilkesb. & West., 1st M., g.o*
1,000
31 1886
620,000
5 g. J. & J. July,’94, int. to be adl’d. July 1, 1926
'C en t. P R . o f N . J . —Stock ($30,000,000 author)..
100 22,497,000 4 in ’98 Q.—F. N.Y.Off.,143 LibertySt. Feb. 1, ’ 99,1%
Bonds, seouredby consolidated mortgage of 1874
1,000
1872
1,167,000
M. & N. N. Y., Liberty Nat. Bk. Nov. 1, 1902
7
Consolidated mortgage (now first mortgage).. .o*
1874
1,000
3.836,000
7
Q.—J.
do
do
July 1, 1899
Convert, debentures, convert, into stock till 1907 —
1,000
1883
6
465,000
M. & N. N. Y., Liberty Nat. Bk. May 1, 1908
sons friendly to Boston & Albany acquired a large interest. V. 68, p.
41, 84.
Owns $1,390,000 Hartford & Conn. Western stock.
B onds.—Of the first os, $650,000 are issuable at once for assess
ments, line to Springfield, etc,, and $600.000 will be reserved for im
provements. Interest on Dutchess Co. RR. firsts was reduced from 6
to 41$ per cent under the plan.
The fixed charges will aggregate $147,500. Annual net earnings of
-old company, $200,000; estimated surplus, $52,500. This in -ludes
interest upon the cost of the Springfield line, but without allowance for
any increased revenue therefrom.—V. 66, p. 761.
L atest E arnings —5 m os., > 1898.......Gross, $276,266; net, $ 9 ?,2 0
July 1 to Nov. 30
>1897......Gross, 319,027; net, 122,58
For years ending June 30 earnings of old company were as follows:
Year to June 30—
dross.
Net.
Charges*
Balance.
1897-8................................. $681,611
1 8 9 6 -7 ............................ 647,475
1895-6............................... 746,569
$213,529 $135.896
195,178
200,674
141,044
140,544
sur.$77,833
sur. 54,134
sur. 60,130
* N o te .—Of old com pan y exclu d in g bon d interest.
Officers .—John W. Brock, of Phila., President; J. K. O. Sherwood,
o f N. Y., Treas.. and 0. A. Heller, of Phil., seo—V. 68, p. 84.
C e n tr a l N e w Y o r k & W e s te r n B K , - R o a d — Olean to Bolivar,
N. Y., 18 miles; branch to HorneUsville, 10 miles; Angelica, N. Y., to
Wayland, 35 miles: total operated, 35 miles, of which Olean to Bolivar,
18 m.. narrow gauge. Stock $1,000,000; par $100. On June 30,1898:
Bills payable $212,179; open aocts., $13,224.
i~EA^NIiiQS~ For J ear ending June 30, 1898, gross, $68,565; net,
$6,058; charges, $15,987; def., $9,928.—(V. 63, p. 3 99.)
C e n tr a l O h io R R . —Owns from Bellaire, Ohio, to Columbus, Ohio,
137 miles, of which Newark to Columbus (33 miles double tracked) is
owned Jointly with Pitts. Cin. Chic. & St. Louis; operates branch, 7 miles.
R eorganization .—Under the new B. & O. plan in V. 67, p. 688,1159
providing for the acquirement of the Central Ohio, each C. 0 . 4 ^ per
cent bond will receive $1,170 in the new B. <& O. Pitts. Junct. & Mid
die Div. 1st 3ios, and each $50 of stock, common and preferred, $5 J
In B. & O. preferred and a cash bonus of $7 50.—V. 67, p. 1206,1356
E arnings —In 1897-98 gross, $1,619,451; net, $357,556; rental,
(paid only in part by lessee), $567,631; taxes, etc., paid by lessee,
$35,613; bal.,Ioss to lessee, $245,688. (V. 67, p. 1206,1356.)
C e n tr a l P a c i f i c R R . - —( See Map o f Southern Pacific.)—Road . —
Lines owned—
Miles.
HTilp.it
San Francisco, Cal., to near
Branches to San Jose, e tc .. . .
35
Ogden, Utah.................... 872
Trackage—
Lathrop, Cal., to Goshen, Cal. 146 Northern R y„ Main Line.......
6
Roseville Junction, Cal., to
Union Pacific into Ogden___
5
Oregon State Line.......... 296
Total......................................1,360
L ease. —In March, 1885, leased to Southern Pacifio Company. In
Deo., 1893, lease was so ohanged that henceforth the Central Pacific
stockholders should receive dividends only if earned. (V. 58, p. 819.)
In March, 1895, Mr. Huntington undertook on behalf of the Southern
P aciflo that the Central Pacific shareholders should receive a minimum
dividend of 1 per cent yearly guaranteed ,by the so. Pao. until satis
factory legislation has been obtained for the adjustment of the debt to
the Government, when the dividend will be increased to 2 per cent for
a guaranteed period of two years. (V. 60, p. 1144.)
The debt to the U. S. Government is either overdue or shortly to
<mature, and pending a settlement the various protective committees
below named have been formed. In June, 1898, Congress passed a bill
providing for the appointment of a commission to settle the Govern
ment debt.—V. 66. p. 1038; V. 67, p. 27, 72. See Mr. Huntington’s
statement in V. 67, p. 74. In Aug., 1898, a bill to forclose the Gov
ernment debt would, it was said, shortly be filed unless a proposition
to extend the debt was made. V. 67, p. 318.
London Stockholders' Committee. -F . G. Banbury, Chairman- J. B
Akroyd, Alwyne Compton, Daniel Marks, Jos. Price, August Belmont,"
J. G Carlisle and George Coppell.—V. 65, p. 410, 570, 728, 1172; v!
66, p. 856; V. 67, p. 124. Opposition London Committee.—W C Gun
ner, Secretary, 124 Chancery Lane,'London. (V. 66, p. 573.) rwf u-amc
First Mortgage Committee.—See Speyer & Co., 30 Broad St., N Y A
majority of these bonds deposited.—See V. 65, p. 778. Spever &"Co
offered to purchase certificates for deposited Series “ A ” bonds at par
and interest on and after Dec. 1,1898.—V. 67, p. 1108.
Committee Gold 5s o f 1939.—Speyer & Co., Deutsche Bank and Teixeira De Mattos Bros.—See V. 65, p. 665.
Subsidy .—Interest is not payable on subsidy loan till the bonds
mature, but the “ Thurman” aot provides for payments yearly to the
sinking fund. See V. 50, p. 276. July 1,1898, principal due Govern
ment on C. P loan was $25,885,120; interest, $45,510,464; on Western
Pacific loan, principal, $1,970.560; interest, $3,412,953. Bonds in U S
sinking fu n d July 1, 1897, $437,000; cash uninvested, $6,907,968
There are considerable claims against U. S. for transportation on non
aided lines. See V. 65, p. 1113.
D ividends — ) 1888-’93. 1894. 1895. 1896. 1897. 1898.
1899
Per cent.
s 2 yearly. None,
1
1
1
Jan \
B onds.—Of the y im mortgage 6s o f 1865-8, Series A to J), aggregating
$6,378,000, cover the road and franchises from Saoramento to the
California State line, 140 miles, and Series E to I, aggregating $19,|505,000, cover the road an t franchises from the State Line to five miles
west of Ogden, 598 miles. Tuese bonds have all been extended
(under agreement in V. 65, p. 4 1 0 .) until dates shown in table aoove
at 5 p. c. interest, principal and interest payable in gold; extended
bonds to be subject to call at par, but if called interest to be adjusted
at 6 p. c. from Jan. 1,1898. See extension contract, etc., in Y. 65, p
410. The bonds themselves are deposited witn Speyer & Co., N. Y.
until June 1, 1901, to facilitate an adjustment of the Government
claims, but the firm’s certificates of deposit are listed on the N Y
Stock Exchange.—V . 65, p. 823. The Series “ A ” bonds were not paid
at maturity, Dec. 1, 1893, but holders were notified that interest
would continue to be paid at 5 per cent until payment o f principal or
readjustment of the company’ s affairs.—V. 67, p. 1108.
The 5 per cents o f i 88q are guaranteed, principal an 1 interest, by the
Southern Paoiflo Company; the mortgage is for $16,000,000, the Metro
politan Trust Co. of New York being trustee. (V. 49, p. 340.) Speyer
& Co. receipts for 5s of 1939 were listed on Exchange in Deo., 1897.
See agreement in V. 65, p. 1113. The land grant 5 s o f rgoa carry the
Southern Pacific’ s guaranty of principal and interest. SeeV. 65, p 665
The total holdings of the sinking funds on July 1 , 1893yexolusive
of the land grant fund—which see below—were $ 11,383,000 par value
including $2,035,000 80. Pac. of N. M. 1st 6s; «2,501,000 southern
Pacific Co. Steamship first 6s; $1,788,000 Guatemala Cent. RR. 1st 6s.
L and G rant.—Total land grant was about 12,000,000 acres, of which
about 2,840,000 acres had been sold to December 31, 1894. Sales in
1896, 38,644 acres; cancellations, 17,979 acres; sales, Jan. 1,1897,
to June 30,1898,52,582 acres; cancellations, 216,116 acres. Land
contracts on hand July 1, 1898—uncompleted payments, $158.734;
principal o f deferred payments, $553,612; and interest do., $558, ¿24
E arnings. —4 months, ) 1898....Gross, $5,838,630; net, $2,514,892
July 1 to Oct. 31
< 1897.. Gross, 5,816,587; net, 2,879,67 >
A nnual R e po rt —Fiscal year (since 1896) ends June 30. Abstract
of report for year ending June 30,1898, was given in V. 67, p. 1157,
1163, showing gross, $15,766,349; net, $6,544,679, against gross.
$12,639,711 and net $4,990,812 in 1896-97. For the calendar years!
Year ending Dec. 31—
1896.
1895.
1894.
Gross earnings...........................$12,527,084 $13,045,657 $13,118,245
Operating exp., taxes, ren ts... $8,355,594 $8,760,439
$8,723,238
Interest on funded debt...........
3,294,150
3,333,102
3,353,926
Sinking fund requirements___
235,000
235,000
185,000
United States requirements__
644,574
648,390
590,701
Betterments and additions....
146,492
237,354
111,787
T otal..................................... $12,675,810 $13,214,335 $12,973,652
Bal. after charges for year.___df.$148,726 def. $168,678
$144,593
—(V. 67, p. 2 7 ,72 ,1 2 4 , 318, 1108, 1 1 5 7, 1 1 6 3 .)
C e n t r a l R y . o f N e w B r u n s w ic k :.—See Y. 63 , p. 116 .
C e n t r a l R R . o f N ew J e r s e y .—( See Map)—R oad — Operates from
Jersey City, opposite New York City, westerly to Wilkesbarre and
Scranton, Pa., and the neighboring anthracite coal fields; also south
erly to the seashore resorts along the coast of New Jersey, eto.:
Lines owned in fee.
Miles.
Lehigh 8s Susquehanna, PhilJersey City to Phillinsburg.... 72
lipsburg to Union Juno., eto. t.172
Sundry branches.................. 83
Wilkesbarre & Scranton ....... 5
Entire stock owned.
Lehigh & Laokawannajf______ 35
Long Branch & Seashore........
6 Other lines.................................
9
New York & Long Branch RR.,
Allentown Term. (oper. jointly) 3
Perth Amboy to Bay H ead.. 38
Trackage—
New-Jersey South’n RR., Long
Union Coal R R ........................... 10
Branch to Atsion, eto....... 78
Lehigh & New England.......... . 2
Other lines (no debt)................ 138 |Tresckow Branch......................
5
Leased (mostly fo r QQQyrs.) Miles, j
—
Ogden Mine RR. IT........ ............ 10
Total operated Jan. 1,1898..683
Nesquehoning Valley IT............ 17 |
j| see this company. 1 See Lehigh Coal& Nav. in “ Mise. Companies.”
There are 261 miles of second and 30 miles of four tracks. With the
Balt. & Ohio and the Phila. & Reading operates the “ Blue Line ” be
tween Washington and the South west and New York, the B. & O. tracks
being used to Philadelphia, the Reading to Bound Brook and the Cen
tral N. J. to Jersey City.
H istory .—Chartered in 1849. From May, 1883, to Jan 1, 1887,
leased to Philadelphia & Reading. Receivers were in possession from
Jan. 1,1887, till January, 1888. Reorganized in 1887 without fore
closure—see plan V. 44, p. 714, 716. Operated from February to
August, 1892, under lease by Fort Reading RR. Co. Dividends were
resumed August, 1889. Concerning coal properties see Lehigh 8t
Wilkesbarre in “ Miscellaneous.”
Dividends .— <’89. ’90. ’ 91. ’92. ’ 93. ’94. ’ 95. ’96. ’ 97. ’93.
*99.
Per cent.
¿3
6
7
7
7 5*2 5 4^4 4 To Feb., 1
Bonds.—New Jersey Southern 6 s carry the endorsed guaranty o f th e
New York & Long Branch. Central N. J. general 5s are reserved to
retire them at maturity. Total issue $1,500.600. all but $411,000 being
held under the Central’ s general mortgage. The Jersey City bonds
(V. 68, p. 128), representing taxes on terminal property at Communipaw, will be taken up by C. RR. of N. J. at maturity, viz.:
Dec. 1, 1899, $95,117; 1900, $75,468; 1901, $66,602; 1902. $76.616; 1903, $n«; 385
J a n u a r y , 1899. J
RAILROAD
STOCKS
AM D
BONDS.
33
2 6
INVESTORS’
SUPPLEMENT.
[V o l .
LXVIII.
S u b s c r ib e r s w i l l c o n f e r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
RAILROADS.
v u VA W 1 U 1 U U U O O lA lIlg B ,
on first page of tables.
C e n tr a l R a ilro a d of Now J ersey — ( Concl'd )—
Long Br. & Sea Shore 1st m., Highl’ds to L. Br.o’
N. J. So. IstM ., L. Br. to Atsion,etc.(assumed).'o'
Cent.RR.of N.J., Gen.mort.for $50,000,000,g.,c<fci
Real estate bond and mortgages.........................
Guaranteed Bonds —
Am.Dock& Imp. Co. 1st M., gu., redeem. at 110... o’
N. Y.& L’gB r’h 1st M.,red. in 1899 at 110,gold.. .c
Gen. M., for $2,500,000, g.,P.Amb.to B.Head.o’
Leh. & Hud. River, gen. M., g., guar, jointly...e*
J . City bonds, guar, (part yearly Deo. 1) see text
•Central BR. o f Pennsylvania—Bonds, $1,200,000..
Ventral o f South Carolina—1st mortgage, g o ld ...c
Central Vermont—Consolidated RR. of Vt. 1st M
Cent. Vt. 1st consol. M. for $15,000,000, gold.cw
Equipment bonds, gold, drawn at 100 Jan. 1.......
N e w Securities to be I ssued under A mend
Central Vermont Ry., stock, $3,000,000.............
1st mortgage, $12,000,00o gold, traffic guaranty
Centralia dk Chester—Receiver’s ctfs., $430,000__
1st mortgage, $12,000 per mile, gold...............o*
C hari. Clend.dkSut.—1stM. g.,$30,000 p. m .W .P.o*
Charleston dk Savannah—stock............................... .
General mortgage, gold.o*..................................
,
1st and 2d pref. ino., $1,000,000 each, non-cum..
Charl.dk West. Oar.—1st M.,g.($8,000p.m.).Ce..o*<fcr
Income M., g., non-cum., ($7,000 per mile) G ..c*
Augusta Ry. Terminal 1st M.,g., gu.,p,& i. end.Ce.
Chartiers— s to ck ...........................................................
1st mortgage, guar. p. & 1. by Penn.’ R R . ' . " c
Chateaugay BE.—Stock.....................................
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
of
of
Par
When Where Payable, andbv Stocks—Last.
Outstanding
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
6
78
All.
....
38
38
....
....
....
40
185
....
ED
PL
....
....
100
....
100
103
103
....
....
....
....
23
....
IT Ob coupon bonds! J<fcJ; on registered bonds Q
Q..-J .
1869
1879
1887
....
$1,000
600
500&C.
....
1881
1,000
4,987,000
1882
1,000
1,500,000
1891
1,000
192,000
1890
1,000 a 1,062,000
1898
435,860
1893 500 &c.
600,000
1881
1,000
300,000
1883
lOO&o.
7,000,000
1892
1,000
See text.
1,000
350,000
AN—
1898
1889
1894
1,000
1,000
1886
1886
1896
1896
1897
1,000
1,000
1,000
1,000
1,000
50
1,000
100
....
....
....
1871
7
J. & D. N. Y., 143 Liberty St.
6
J. & J.
do
do
do
do
5 g.
5
Various
do
do
5
5
5
5
4
6
6
5
4
6
J. <fe J.
g. J. & D.
g. IM. & S.
g. J. & J.
J. & D.
M. & N.
g. J. & J.
J. & J.
g. J. & J.
g. J. & J.
3,000,000
11,000,000
4 g.
425.000
6
978,000
5 g.
1,000,000
5 g.
500,000
1,500,000
7 g.
2,000,000
7
2,720,000
5 g.
2,380,000
5
600,000
6 g.
645,300 10 in ’98
500,000
7
75,000
Deo. 1, 1899
July 15,1899
July 1, 1987
Various dates
N. Y., Liberty Nat. Bk.
do
do
do
do
N. Y., Nat. Exch. Bank.
July 1, 1921
Deo. 1, 1931
Sept. 1, 1941
July 1, 1920
Deo. 1’99-1903
Phil.,Fid.I.Tr.& 8.D.C0. May 1, 1943
N. Y., Cuyler, M. & Co. July 1, 1921
July,’96,c"oup.last paid. June 30,1913
July,’96,coupon unpaid Jan. 1, 1943
U.S.Mort.&Tr. Co.,N.Y. $25,000 y’rly.
Q.—F.
J. & J. Interest in default.
July 1, 1919
A. & O. Phil.WstEnd T.&S.D.Co Oct. 1, 1944
J. & J. N.Y.,12 W.23 & Cha’st’n
April.
See text.
A. & O. N. Y., Chase Nat. Bank.
October
If earned.
A. & O.
N. Y. Cent. Tr. Co.
A.
O.
A. & 0. Philadelphia, Penn. RR.
Jan. 1, 1936
Irredeemable.
Oct. 1, 1946
Oct. 1, 1946
Apr. 1. 1947
3ct. 1, ’98, 5%
Oot. 1, 1901
a Guara nteed jointly with Le high Co al & Navigation Co.
Of the general mort. o f 1887 (see abstract of mort. V. 45, p. 402) $6,■076,000 on Jan. 1,1898, were reserved for the prior Cent. N. J. bonds
and for the following: N. J. Southern 6s, $411,000; Long Branch
•A Seashore 7s $107,000. All the old bonds, it will be noticed, mature
within a few years. Genera) mortgage trustee is the Central Trust Co.
Jointly and severally with the Coal & Nav. Co guarantees $1,062,000
Leh. <fc Hud. River Ry. Gen. 5s, prin. and int. See form of endorse
ment in V, 67, p. 788.
See New York dk Long Branch bonds in Supplement of Jan., 1897;
-during 1897 $50,000 general 5s were issued for improvements.
G eneral F inances, &c.—The $2,310,000 Lehigh C. & N. 6s assumed
were paid Dec. 15,1897. general 5s having been sold therefor. V. 65,
P- 1114, 1219. In April, 1898, the Lehigh & Wilkesbarre Coal Co.,
it was stated, had only $375,000 of loans and bills payable outstanding
that were not held by the Central RR. of New Jersey. The current
liabilities o f the latter company were shown in the balance sheet, V.
66, p. 424. See also V. 64, p. 1041.
E arnings .—11 m onths,) 1898..Gross, $11,551,424; net, $4,593,345
January 1 to Nov. 30. 5 1897..Gross, 11.635,168; net, 4,512,854
A nnual R eport —Annual meeting is held on Friday next preceding
second Monday in May. The report for 1897 was in V. 66, p. 423.
Year ending Dec. 31.
1897.
1896.
1895.
. 6,901,557
$6,655,177
$6,766,535
. 5,261,282
5,381,111
5,727,229
Mail, express, etc........
535,970
543,162
505,064
N. Y. & L. B. D ivision.
469,964
465,017
476,762
Traokage.......................
43,999
72,884
92,434
.$13,212,772 $13,117,350 $13,568,024
$5,044,101
$4,798,782
$5,272,969
698,139
840,440
773,456
*
t428,120
t428,120
Income from investments . . . .
Premium account.................... £
Lehigh & Wilks, ooupons........
$5,742.240
$6,067,342
$6,474,545
. $3,027,755
$3,030,029
$2,955,166
1,627,868
1,641,048
1,691,091
(4)899,880 (5)1,124,850 (5)1,124,850
B alance............................. sur.$186,737 sur.$271,415 sur.$703,438
t Not paid in cash, but collectible June 1,1900. See Lehigh & Wilkes.
* Lehigh & Wilkes, coupons, included in other years, omitted in 1897.
- ( V . 67, p. 221, 788, 1054; V. 68, p. 128.)
C e n t r a l R R . o f P e n n s y lv a n i a . — Owns Bellefonte (Penn. RR.)
to Mill Hall, Pa. (on Beech Creek RR.) 27 miles; branch, 4 miles;
operates Nittany Val. RR., 7 miles. Current liabilities June 30,1897
*199,557. For year 1896-7, gross, $32,874; deficit under operating
$7,797; charges, $51,399;defloit, $59,196. Stock, $1,200,000; par, $50
C e n t r a l R R . o f S o u tli C a r o li n a .— Owns from Lane, S. C., to
Sumter, S. C., 41 miles. Leased to the Atlantic Coast LineRR. of South
Carolina ; rental $31,000 yearly. Stock, $170,000, par $50. In year
ending June 30, 1897, gross, $94,833; net over taxes, $35,648. In
1895-6, gross, $98,601.—V. 64, p. 887.
C e n t r a l V e r m o n t R R . — Operates from Rouse’s Pointatthe north
end o f Lake Champlain across Massachusetts to New London, Conn., on
Long Island Sound, with branches. System includes: See V. 64, p. 606.
Entire stock owned—
Miles.
Leased Lines — Oon'd.
Miles.
Montpelier & White Riv. R R ,.. 14 Missisquol V a lley ..............
28
Stanstead Sheft'ord & Chambly. 43 Montreal Portland & Boston.. 40
Leased Lines —
Montreal & Vermont Juno... 23
Consol. RR. of Vt.—
New London & Northern IT.......158
Windsor to Rouse’s Point,etc.179
Burlington & Lamoille............. 26
Total op’d (IISee these co’ s.).510
H istory .—Rutland RR. was surrendered May 8 ,1 8 9 6 ,\ .6 2 , p. 868
« i d Ogdens. & Lake Cham. March 22,1897. V. 64, p.567.
’
R eceivership .—On March 19, 1896, Charles M. Hays and E CSmith were appointed receivers.—V. 62, p. 588, 634. Interest due Jan.
1, 1897, on the Consol. RR. o f Vt. 5s was not paid.—V. 64, p. 82.
P lan .—The opposing interests in Sept.. 1898, agreed upon an
amended plan of reorganization (V. 67, p. 735), which provides that
Consol. RR. o f Ver. 5s receive par In new 1st 4s (see table above) and
cash for interest at 4 per cent from Feb., 1898, and 8 per cent in stock
for prior unpaid interest. The Grand Trunk Ry. will hold a majority o f
the $3,000,000 stock, and under a traffic contract will make good any
■deficiency in earnings to meet interest on the new firsts up to 30 p. c
o f Grand Trunk gross receipts from traffio interchanged. The new 4
p. 0. mortgage is to be for $12,000,000, o f which $7,000,000 to be ex
changed for Consol. RR. o f Ver. 5s, $4,000,000 to acquire branch lines
and fo r other purposes, leaving $1,000,000 in the treasury. V. 66 p
708, 759. See also V. 67, p. 273. In Nov., 1898, the Central Vermont
Railway was incorporated as successor. In January, 1899, charter
was accepted and the reorganization about to be consummated. (V
■08, p. 129; V. 67, p. 1054.)
'
B ondholders ’ Committee .—Consol. 5*.—E. F. Bisco, Samuel E
Kilner. New York (Billings estate); Ezra H. Baker (Chairman), of Lee)
$197,000
411,000
43,924,000
301,100
Higginson & Co., and Henry D. Day, of R. L. Day & Co.; depositary;
American L. <fc T. Co., Boston: over $5,500,000 deposited.—V. 62, p.
©34; V. 64, p. 516; V. 65, p. 728, 923. See circular, V. 66, p. 899.
Stock .—June 30,1897, the Central Vermont had outstanding $1,000,000 stock and Consol, of Vermont $750,000 pref. and $300,000 common.
For securities owned June 30,1896, see V. 64, p. 606.
B onds.—Of the consolidated mortgage fours tor $15,000,000 [trustee
American Loan & Trust Co. of Boston] $3,000,000 have been issued, o f
which $2.896.000 were outstanding (June 30,1896). as collateral fo r
loans and $104,000 were in the treasury.—V. 63, p. 358.
Annual R eport.—Fiscal year ends June 30. Expert Little’ s report
on the property for the three years ending June 30,1896, was given in
V. 64, p . 606. For the three years he charges off a total of $632,879
for “ additions and betterments” and “ impairment of equipment.”
Excluding Rutland RR. and Ogdensburg & Lake Champlain, whose
leases have been abandoned by the Central Vt. receivers:
Year end.
Cross
Net
Mr. Little's Rentals,
Balance,
June SO— earnings, earnings, deductions. taxes, etc.
sur. or def.
1896-97.. $3,702,293
$705,139
............
1895-96.. 3,493,580
1,006,018 $177,511
$858,593 def. $30,886
1894-95.. 3.268,547
987,912
79,545
879.851 sur. 28,516
—(V. 67, p. 273, 689, 735, 842, 900, 954, 1038,1054; V. 68, p. 129.)
C e n t r a l W a s h in g t o n R R . —See W ashington Central RR.
C e n t r a lia & C h e s te r R R . — Owns Chester, 111., to Salem, 111., 91
m. and Sparta to Rosborough, 5 m.; total, 96 m. On June 7,1 89 7 ,0.
M Foreman of Nashville, 111., was appointed receiver—see V. 64, p.
1437. In Oct., 1898, the Farmers’ Loan & Trust Co., Trustee, had
been asked to institute foreclosure proceedings, and applied for the
appointment of a new receiver. V. 67, p. 735, 788. Receivers’ certif
icates for $200,000 authorized in August, 1897, to complete line from
Evansville to Chester; additional certificates for $175,000 authorized
in Deo., 1897; third issue of $50,000 in vlarch, 1898, and in Sept., 1898,
$75,000, making aggregate amount $425,000.
Stock, $948,000.
Farmers’ Loan & Trust Co., trustee of the mortgage. For year ending
June 30, 1898, gross, $63,671; defloit under operating expenses,
$30,213. In 1896-97, gross, $55,395; defloit, $8,031.—(V. 65, p.
234,1172,1219 ;V. 66, p. 573.) V. 67, p. 735, 738.
C h a r le s t o n C le n d e n n ln & S u t t o n R R . — Owns road, com
pleted in December, 1895, from Charleston, W. Va., via Clendennln to
Clay Court House, 5 l miles, and under construction via Olay Court
House to Sutton, 49 miles additional; in Dec., ’97, graded 12 miles from
Clay C. H. Capital stock authorized, $3,000,000; par, $100; outstand
ing Oct., 1898, $367,300. First mortgage is for $3,000,000.
E arnings .—Year endingjune 30 ,1 8 9 8 , gross, $ 5 7 ,4 3 6 ; n et,$20,201;
int. on bonds, * 7 5 ,0 0 0 ; balance, deficit, $54,779.
President, W. D. Stratton; Secretary and Treasurer, Pierre W.
Briggs, 100 Broadway, New York. V. 61, p. 1012.
C h a r le s to n A S a v a n n a h R y . —Owns from opposite Charleston,
8. C., to Central RR. at Savannah, Ga., 115 miles, and branch 6 miles,
all steel. Operates from Ashley Junction to Charleston, 8. C., and Cen
tral RR. of Georgia, crossing to S. F. & W. Ry. at Southover, 11 miles.
Green Pond Walter boro & Branchville Ry., 14 miles, is controlled in
same interest but operated separately. Belongs to Plant system. In
March, 1898, Walterboro & Western, Walterboro, B. O., to Ehrhardt,
S. C., 27 miles, was purchased in interest o f system.
I n terest —
? 1889.
’ 90,
’ 91.
’ 92.
’93.
’ 94.
’ 95.
’ 96.
’ 97.
On 1st incomes % > 1*2
2
6 6
5 4
4 0 0
E arnings.—4 months, i 1898............. Gross, $177,033; net, $6,164
July 1 to Oct. 31.
>1897.............Gross, 157,586; net, 18,355
In 1897-8, gross, $637.170; net, $110,664. In year to June 30,1897,
gross, $571,109; net, $154,254; other income, $11,158; interest and
taxes, $126,498; balance, surplus, for year, $38,914. In 1895-6 gross.
$536,229; net, $106,699. In 1894-95, gross, $551,766; net. $112,483.
—(V. 64, p. 4 2 1 ; V. 66, p. 51 8 .)
C h a r le s to n & W e s te r n C a r o lin a R y . —Port Royal, 8. C., to
Augusta, Ga., 112 m.,andSpartanb’g, Greenville and Anderson,230m.
H istory .—A reorganization and consolidation Oot. 3,1896, o f th e
Port Royal & Augusta and Port Royal & Western Carolina, purchased
at foreclosure sale by Thomas <&Ryan, who sold the entire oapital stock
and large portion of its issue o f income bonds to Atlantic Coast Line
in December, 1897. V. 66, p. 38, 335.
Stock .—$1,200,000; par, $100. A full statement as to Augusta Ry.
Terminal Co. and its bonds was in V. 66, p. 383.
E arnings.—For year ending June 30, 1898. gross, $817,937; net
after deducting taxes, $186.319; interest, *136.000; lease o f Aug
Term., $36,060; surplus, $14,259. President, J. B. Cleveland, Spar
tanburg, S. C.; Secretary, J. J. Nelligan, Baltimore, Md. (V. 65 n
1023; V. 66, p. 38, 335, 383, 953.)
’
C h a r tie r s R y . — Owns from Mansfield, Pa., to Washington, Pa., 23 m.
Leased till 1971 to the Pittsburg Cincinnati & St. Louis (now Pitts
burg Cincinnati Chicago & St. Louis); the rental is net earnings.
Oapital stock, $645,300 (par $50), of which the Pennsylvania Rail
road owns $333,850. Dividends since 1886: Tn 1887,1888 and 1889
BONDS
AN D
STOCKS
RAILROAD
1899. |
J anuary.
LNYESTOßS’
3 3
SUPPLEMENT.
(Vou LXViru
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d In t b e s e T a b le s .
RAILROADS.
on first page of tables.
0. R. & S. 1st mortgage, $500,000, gold U ........c
Chattanooga Southern—Stock ($750,000 is pref.)...
1st mortgage, gold....................................................
Income mortgage, non-cumulative, $750,000___
Cherry Valley Sharon dk Albany—1st m ortgage....
Chesapeake Beach—1st M., $1,000,000, gold.« o.c*
Ches.dk Nash.—1st M. ,$25,000p.m. ,g. ,s.f. ,not d’m.c*
Chesapeake & Ohio—Stock.......................................
Mortgage 6s, gold, series “ A ” See text.......... c*
1st mort.,of 1911, Penin. Ext., gold. See text.o*
Ter’J 1st m.,1922, covering 8 m., to Phoebus.g.c*
1 st consol, mortgage for $30,000,000, g o ld . .c*&r
Rich. & All Div. 1st consol. M., gold. See text.o*
2d cons. M., Riohm. via. Lynchb’g to Clifton F.
Craig Valley branch 1st mortgage, gold............c*
Warm Springs Branoh 1st mortgage, gold........ c*
General mortgage (for $70,000,000, etc.) gold..o*
Eliza. Lex. & Big Sandy 1st m., g.,guar. p. <fei..o*
G uaranteed B onds.
Elevator Co. 1st M.,gold,p. <&i. guar, by C. <&O.c*
2d mortgage, for $500,000, income, non-eum.e*
C. «fe O. SS. 1st M. deb. red. at par, gu.. p. & i ___
Greenbrier & New River RR. 1st mortgage.......
Manchester city & imp. bonds (8s, $45,200).......
Lo.«fcJeff.Bdg. IstM.,$5,000.000,gu.p.&i.,end. 1T.*c
Norf. Term’l & Trans. 1st M., $500,000, gu. p.&i.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When
of
of
Par Outstanding
Where Payable, and by
Road. Bonds Value.
Cent. Payable
whom.
39 1887
$200,000
F. <& A.
6
Plattsburg. N. Y.
19 1885 $100<&c.
150,000
J. & J. July, ’92, coup, last
£ g'
1,000
138 1897
319,000
5
g. J. <fc J. N. Y., Union Trust
....
100
3,000,000
89 1895
none issued. " 5 ‘ g J. & J,
New York.
89 1895
none issued. 5 if earn.
1869 500 «fee.
300,000
7
J./jrD./y N .Y .O ff^ ïc’o rtïandt St.
1,000
30 1898
(1)
5 g. J. & J. N. Y., J. Kennedy Tod,
1,000
35 1887
875,000
In default.
5 g. F. <fe A.
100 60,547,400
5 503 1878
1,000
2,013,354
J. P. Morgan <fe Co.
6 g. A. & O.
1,000
1 75 1881
2,000,000
do
do
6 g. A. & O.
8 1882 50Ó «feo.
142,000
do
<fe D.
do
2 g- J.
1,000 125,858,000
655 1889
M. & N.
do
do
a g - J. <& J.
1,000
256 1890
6,000,000
do
do
a g - J. «fe J.
1,000
256 1890
1,000,000
do
do
i g- J. & J.
1,000
26 1890
650,000
do
do
R
g
22 1890
1,000
400,000
M.
<
fc
S.
do
do
5 g.
1,174 1892
1,000 i 24,043.000
do
4> g. M. <fe S.
do
1,000
109 1872
3,007,000
do
do
5 g. M. «fe S.
....
_
....
....
....
1888
1888
1893
1,000
1.000
£100
1,000
1895
1898
1,000
1,000
....
....
830,000
315,000
a£110,000
370,000
81,200
1T3,000,000
500,000
Bonds—Prtncl
pal,When Due.
Stocks—Last
Dividend.
Aug. 1. 1907
Jan. 1, 1916
July 1, 1947
1925
1925
June15,1899
July 1, 1923
Aug. 15,1937
July
Jan.
June
May
Jan.
Jan.
July
Mch.
Moh.
Mch.
1908
1911
1923
1939
1989
1989
1940
1941
1992
1902
I e'
A. «Ss O.
Oot. 1.
J. <& J.
F. & A.
Ê8'
M. <fe S. N.Y., J.P. Morgan <feCo. Mch. 1, 1945
F. & A.
Feb. 1, 1948
Í*
5 &8
do
do
London.
Richmond.
Oot.
Oot. 1, 1988
Jan. 1, 1909
Aug. 1, 1942
Guaranteed jointly and severally with Clev. Cin. C hie. «fe St. L.
the outstanding issue of which was thereby increa sed toj$25,85 8,000.
t The $2,287 ,000 6s d ue July 1,1898, were refunded into consol.5s,
1 Only $23,7 28,000 li sted Jan ., ’ 99. a £10,000 called yearly at par.
5 per cen t; in 1890, 5*3; in 1891, 7^«; in 1892, 8 ; in 1893, 1 0 ; in
1894,10; in 1895, 8; in 1896,9; in 1897,10 p. c.; in 1898,10 p. o.
E arnings.—For year ending Dec. 31, 1897, gross, $298,423; net.
$141,226. In 1896, gross, $277,523; net, $112,955.
C h a t e a u g a y R R . — Operates narrow-gauge road from Plattsburg»
N. Y., on the Delaware <fc Hudson, to Saranac Lake, in the Adirondack
Mountains, 73 miles. Of this it owns from Daunemora to Lyon Mt.,
18 miles, and leases the Chateaugay Railway, Lyon Mt. to Saranac
Lake, 39 miles, and the Plattsburg <fe Dannemora RR. (so-called),
Plattsburg to Dannemora, 16 m. The latter road is leased from the State
o f N. Y. for one dollar and the free transportation of freight to the
State’s Prison at Dannemora. The Chateaugay Railway is leased for
Interest on its bonds, which are guaranteed principal and interest by
the Delaware <& Hudson Canal Co. Built in interest of an ironmining company and to carry summer travel to the Adirondaoks. In
January, 1897, the Saranac & Lake Placid, 10 miles, was leased for 17
years jointly with the Chateaugay Ore <fe Iron Co. Stock, $75,000 (par
$100); loans and bills payable June 30,1897, $73,048.
E arnings.—In year ending June 30,’97, gross, $108,770; deficit under
operating expenses, $8,759; rentals and taxes, $15,999; balance,
deficit for year, $24,757. In 1895-96, gross, $96,474; deficit under
operating, $11,287.—V. 64, p. 182.
In September, 1893, the Chesapeake <fe Ohio Steamship Co., controlled
by this company, began operations. See below and V. 55, p. 1078.
Capital Stock .—Common stock is $60,498,100; increased from
$45,000,000 to this figure since 1892 through exohange of practically
all the $25,000,000 of preferred stocks for common stock and general
mortgage 4*2 per cents in certain proportions. First preferred tor
$23,300 and second p r e f erred for $26,000 only was outstanding July
1,1898. See terms of exohange in V. 54, p. 642.
B onds.—The series A bonds o f 1878 cover, subject to the purcha s
money 6s. the main line from Richmond, Va., via Charlottesville to
Ashland, Ky., 428 miles, and are equally secured with the P en in su la r
Extension 6s by first mortgage on extension to Newport News, 75 m iles.
The consolidated mortgage due in 1939 is for $30,000,000 (trustee.
Central Trust Company), and sufficient bonds are reserved to
provide for prior liens. This mortgage is also seoured by deposit in
trust of the $11,000,000 bonds and two-thirds of the stock of the May s\nUle <fe Big Sandy RR., [on road Ashland to Covington, Ky.], and o f th e
Bridge to Cincinnati, all owned by theChes. <&O. RR. (See abstract, V .
49, p. 147.)
Richmond dk Allegheny Division bonds oover the low-grade freight
route from Richmond via Lynchburg to Clifton Forge and branches.
(Mort. abstracts, V. 51, p. 144.)
The general mortgage o f 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 con
sols o f 1889, issued or to be issued, etc. The balance unissued may be
sold for new acquisitions, rolling stook, etc., but not more than
$2,000,000 thereof in any one year. The mortgage covers the entire
roperty of the company, real and personal, at the time the
eed was made, and all additional property and mileage
acquired with the proceeds of the bonds. See full abstract o f mortgage
in V. 54, p .6 4 4 ; also V. 54, p. 642; V. 55, p. 335. In Oct., 1898,
$23,722,000, had been listed on New York Stook Exohange.
The Elizabethan Lexington dk Big Sandy first mortgage bonds, interest
on which has been reduced to 5 per cent, have been endorsed with the
C. <&O. guaranty of principal and interest, and general mortgage bonds
have been set aside to retire them at maturity.
The Louisville dk Jeffersonville Bridge bonds, of which $3,000,000
are outstanding, are guaranteed jointly and severally by the Chesa
peake <&Ohio audCleveland Cincinnati Chicago <fc St. Louis; any deficit
on account of the bridge is payable by them in the proportion o f onethird and two-thirds respectively—see V. 60, p. 130; V. 61, p. 327,
559; V. 62. p. 84 and separate statement for L. <fe J. Bridge Co.
G uaranties .—C. «&O. is also liable as guarantor on the Norfolk Ter
minal & Transportation 1st mortgage $500,000 and C. <fe O. Grain Ele
vator 1st mortgage $830,000.
Operations , F inances, «tec.—Since the reorganization in 1888, when
the control of the company was placed for five years in the hands of
trustees, the property has been greatly enlarged and improved. This
is one o f the so-called Morgan-Vanderbilt lines.
The interest charges for the fiscal year 1898-99 are estimated at $3,130,121, against $3,148.172 in 1897-98. V. 67, p. 322. In Jan., 1898,
$1,590,000 4*28 were sold at a price sufficient to pay off all loans and
accounts and provide a cash surplus for working capital.
The steamship line was formally opened Sept. 7, 1893, and owns
six new steamers, using the railroad wharves at Newport News.
E arnings.—5 months,) 1898......Gross, $5,127,712; net, $1,774,623
July 1 to Nov. 30. 51897...... Gross, 4,909,964; net, 1,660,649
A nnual R eport .—Fiscal year ends June 30. Annin».! meeting is
held at Richmond on the Tuesday preceding the last Tuesday in
October. Report for 1897-98 was given in full in V. 67, p. 3 i5 , 321,
and showed the following. See also editorial p. 294.
Traffic.—Of the total tonnage (7,806,914) in the year 1897-98, ooal
and coke furnished 4,062,393 tons, or 52 per cent of the w hole;
products of agriculture furnished 15 per cent. The average rate re
ceived on seaboard ooal was only 2-59 mills per ton per m ile ; on all
freight, 3-70 mills. «Average train load, 225 tons in 1890, 352 in 1896-7
and 379 in 1897-8.
Year ending June 30—
1898.
1897.
1896.
Miles operated.................
1,360
1,360
1,360
Passenger earnings......... $1,954,864
$1,857,898
$1,949,790
Freight............................... 9,262,998
8,389,374
7,810,598
Express, mail and misoel.
570,695
460,911
460,743
C h a t t a n o o g a R o m e & S o u t h e r n R R . — Owns road Carrollton,
Ga., via Rome, to Chattanooga, Tenn., 138 miles. Successor Sept. 12,
1897, to Chattanooga Rome & Columbus, which was sold in foreclosure
Jan. 13,1897, to S. Borg & Co., N.Y., for $500,000.
Stock and B onds.—Capital stock is $1,600,000 non-cum. 5 p.c. pref.
stock and $1,600,000 common. First mortgage is for $500,000, and it
is provided that bonds be reserved to retire Rome <fe Carrollton 1st 6s
in case an agreement can be made. V. 64, p. 753. In March, 1898, suits
to foreclose the R. & C. mortgage were begun and C. B. Wilburn, Presi
dent o f the O. R. & S., was appointed Receiver of the 19 miles of R. & C.
D ividends .—On preferred, 3 p. c. paid Jan. 17,1898.
E arnings.—Year end. June 30.1897, gross, $220,990; net, $30,892
In 1895-6, gross, $241,330. In 1894-5, gross, $211,099.—(V. 66, p. 478.'
C h a tt a n o o g a S o u th e r n R R . — Owns road, completed in June,
1891, from Tennessee State line to Gadsden, Ala., 87 miles; Round Mt.
branoh, 3 miles; trackage to Chattanooga, 5 m iles; sidings and
spurs, 10 m iles; total o f all track, 105 miles. Organized in Jan., 1896,
as successor to Chattanooga Southern Ry., sold in foreclosure Feb. 14,
1895, and was to be reorganized per plan in V. 61, p. 830, but m
January, 1899, the new securities had not been issued.
B onds.—The new lsts were to be $5,000 per mile on present mileage
and $10,000 on extensions. The old bondholders were required to sub
scribe for the new bonds at par to the amount of 25 per cent of their
holdings.—V. 63, p. 401.
E arnings.—In year ending June 30,1898, sross, $70,665; def. under
oper. expenses, $8,553. In 1896-7,gross, $67,821. President, H. A. V.
P o s t; Secretary, E. C. Osborn, 31 Nassau St —(V. 63, p. 823.)
C h e r a w Sc D a r l i n g t o n R R , —In 18°8, merged in the Atlantic
Coast Line RU. of So. Carolina. V. 67, p. 31,179.
C h e r r y V a ll e y S h a r o n Sc A l b a n y R R . — Owns from Cherr
Valley to Cobleskill, N. Y., 21 miles. In 1876 road was aoquirei
through Albany & Susq.) by D. & H. Canal Co., which now operate
It. Stock, $289,100; par, $50.
C h e s a p e a k e R e a c h R a i l w a y . — To extend from Deanwood, D.
C.» to Chesapeake Bay, 30 miles. In October, 1898, Deanwood to Uppe Marlboro. Md., operated, and remaining 18 miles under construc
tion. Stock $1,000,000, authorized; outstanding, $660,000; par, $100.
Bonds cannot be called. President, Otto Mears; Vice-President and
Treas., John L. McNeil; Sec , Fred’k D McKenney. Office. 1420 New
Y ork Ave., Wash., D. C.—V. 67, p. 788.
C h e s a p e a k e & O h io R y . — (See Map.)—Operates from Newpoi
News Va., and Washington, D. C., to Cincinnati, Ohio, with branchef
Lines owned in fee —
Miles.
Lines conti* d by stock, etc. Miles.
Old Point Comfort and New
Bridge—Covington, Ky., to
port News via Charlottes
Cincinnati, Ohio..................
2
ville to Ashland, K y............ 519 Elizabethtown Lexington <fe
Riohmondvia Lynchburg to
Big Sandy RR....................... 103
Clifton Forge, Va................. 232 Sundry branches..................... 224
Buckingham Br. (acqu. in ’ 97)
21 Trackage to Washington.......
85
Lines controlled by stock, etc.—
Leased......................................
30
Maysville & Big Sandy RR.
Ashland, Ky., to Covington, 144
Total system.........................1,360
Second track..............
82 Trackage to Louisville..........
84
Of the above mileage 19miles is narrow-gauge road. Of the “ lease«
21 miles is on E. L. & B. S. and 9 miles on Washington line.
H istory , «fee—The former Chesapeake <fe Ohio was sold in for
closure April 2,1878, and this company organized. In 1888, und
the direction ofD rexel, Morgan & Co., reorganized without foreolosui
and the road extended to Cincinnati. The consolidation with the Rio
mond & Alleghany was consummated in January, 1890. The Elizabet
-town Lexington & Big Sandy and other roads were absorbed in 189
Total earnings............ $11,788,557
Oper, expenses and taxes
7,982,307
Per ot. expenses to earns.
(68)
$10,708,183
7,286.769
(68)
$10,221,131
6,963,153
(68)
$3,806,250
83,628
$3,421,414
79,326
$3,257,978
23,547
Total and net income. $3,889,878
Interest on bonds, <&o___ 3,271,368
$3,500,740
3,198,198
$3,281,525
3,134,185
Balance, surplus___
$618,510
$302,542
—(V. 66 p. 38,133,234; V. 67, p. 3 1 5 , 3 2 1 .)
$147,340
Net earnings.............
Other income..................
RONDS
AN D
STOCKS
.RAILROAD
18fc9.J
J anuary,
30
INVESTORS’
SUPPLEMENT.
fVoL, L X Y III.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
Bond»—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,
Par Outstanding
Stocks—Last
of
Cor explanation o f column headings, &c., see notes of
Whom.
Cent. Payable
Road. Bonds Value.
Dividend.
on first page of tables.
Chesapeake Ohio <6 Southwestern—See I llinois Ce NTRAL
$100
$606,075
Chesapeake dt Western—Stock $660,000..................
660,000
27 1896 500 &c.
1st mortgage, gold (825,000 per mile) C o ...........
1,000
800,000
1897
Chester Oo. Cent.—1st M., $800,000 g........... F P ..C
50
120,650
4
Chestnut Hill RR.—Stock, rental P. & R. R y ..........
100
18,751,100
C h ica go & .Alton—Common stock...........................
100
3,479,500
Preferred stock (7 per cent yearly not cumulative)
£200
4,379,850
Gen. M., Joliet to E. St. Louis <&br., sterling. ..o* 322 1873
1,000
1,722,000
S.f.bond8(K.C.St.L.<fc0.1stM.ool.) ,gold,not dr’n . o* 162 1878
1,000
501,000
1877
Miss. Riv. Br., 1st M., g., ass’d, s. f., dr’n at 100.o*
100
1.750.000
Kansas City St. L. & C. pref. stock, guaranteed.. 162
100
1.500.000
37
Joliet <&Chic., 7 p.o. stock,perpet.,guar, by C.«feA.
100
329,000
Louisiana & Mo., guaranteed preferred stock___ 101
1,000
1,785,000
1st mort. (guar. p. <fe i. and later assumed)....... 101 1870
1,000
300,000
1877
101
2d mort. (guar. p. & i. and later assumed)........
100 10,042,000
Chicago Burlington <&Northern—Stools. $12,000,000
500
&o.
7,958,000
1885
1st M., sink, fund, $100,< 00 call’d y’ly at 10 5 ..c* 336
1,000
3,450,000
2d M., called for payment at par, June 1,1899.0* 342 1888
1,000
908,000
1888
Equipment mortgage—see text...............................
400,000
1894 10.000.&O
Funding notes............................................................
100
85,314,800
Chicago B u rlin gton & Q uincy—Stock, see text.
1,000 28,924,000
Con. M. cov’ng Ch. Term, (now 1st lien) see text.o* 759 1873
1,000 a2,315.000
Sink, fund bonds (1st M. as coll.) not dr’n.o*&r 285 1876
( 1879 1,000 b 2 ,818,000
Oh. Burl. <fc Q. Iowa Dlv., s. f. 5s, drawn at 1 0 5 ..)
. . . . U 879 1,000 c9,050,000
Iowa Dlv., s. f. mortgage 4s, drawn at 100.o<fer 5
1,000 d4,300,000
1881
Sink, fund 4s (So. W. Dlv.) drawn at 100. ...c&r*
1,000 e7,968,000
Denver exten. (collat. tr.) b’ ds, s.f. dr’n at lOO.o* 415 1881
1,000
9,000,000
1883
—
Debentures for Han. & St. Joseph stock........ c*
,$185.0
00;
sinking f
nceled
andca
a Issue $2,500,000; redeemed by sinking mnd
canceled not included, dl, $1,150,000, and e, $2,11 2,000, are in sinking fund uncano
C h e s a p e a k e O h io Sc S o u t h w e s t e r n R R . — ( See Map Illinois
Central.)—Louisville, Ky., to Memphis, Tenn., 392 miles, and branch
Elizabethtown to Ceoilian Junction 6 miles, 398 miles; of whioh is
eased from Louisville & Nashville their Ceoilian branch, 46 miles.
Mistory .—Purchased on July 25,1896, by the Illinois Central for
$1,500,000 at forolosure sale under the second mortgage; first mort
gage bonds mostly owned by 111. Cent, were subsequently declared due
and payable. V. 65, p. 516. Possession was taken Aug. 1,1896. The
Illinois Cent, in May, 1897, issued a $20,000,000 mortgage covering
the C. O. & S. W. property—see Illinois Central statement and also V.
64, p. 952. Earnings under receiver were in 1895-96, gross, $2,462,486; net, 8815,646.—V. 65, p. 5l6.
C h e s a p e a k e Sc W e s t e r n l i l t . —Owns road from Elkton to
Bridgewater, Va., 26'67 miles; trackage, Norfolk <fe Western to Elkton
Junction, 0'33 mile. Road opened in April, 1896. Projected to tide
water on Chesapeake Bay. Of the outstanding stock, $532,800 is
common; $73,275 preferred.
To Oct., 1898, $660,000 bonds issued, but held for account of con
struction company, which is building the road. Mortgage trustee,
Continental Trust Co., N. Y. Year ending June 30, 1898, gross, $23,427; net after deducting taxes. $614; no interest paid, bonds being
held by construction company. General office, 30 Broad St., N. Y.
C h e s te r C o u n t y C e n t r a l U K . — Organized in 1896 to construct
a road in the counties of Philadelphia, Delaware and Chester, Pa.
C h e s te r Sc L e n o ir N a r r o w G a u g e R B I.—See Carolina <fe N. W.
C h e s t n u t H i l l K R . —Owns from Germantown to Chestnut Hill,
Pa., 4 miles. Re-leased in 1896 to Phila. & Reading Ry., th e' rental
being reduced from 12 per cent to 6 per cent on stock.
C h ic a g o Sc A lt o n R R . — R oad—Operates from Chicago to StLouis, Kansas City, etc., owning 542 miles and operating in all 843
miles, of which 110 miles double tracked.
Lines Leased—
Miles
Lines Owned—
Miles.
Joliet to East St. Louis..............244 Joliet & Chicago—
Chicago to Joliet..................... 37
Dwight to Wash, and Lacon... 80
Louisiana <fe Missouri Riv.—
St. L. Jack. <fc Chic. Division—
Louisiana to Cedar City.........101
Bloomington to Godfrey.......150
Rood house to Quinoy Jun o.. . . 37 Kan. City St. L. «fc Chioago—
Mexico to Kansas City...........162
Joliet to Coal City, eto............... 25
Other lines................................... 6 Mississippi River Bridge............113
Total o f all owned and leased(70 lb. steel)...................................843
H istory .—Succeeded to the property in October, 1862. In 1884
consolidated with the St. Louis Jacksonville & Chioago RR.
Stock .—In 1892-93 sold $4,636,100 new stock to stockholders at
114 to retire $5,312,000 7 per cent bonds.
The Chioago <fe Alton preferred stock has prior right to a non-cumulative dividend not exceeding 7 per cent from net earnings and (after,
payment o f 7 on common) also shares with common in any surplus.
D ividends .—Pr. o t.) 1881 1882 ’83 ’ 84 ’85 to ’96 incl. ’97 ’ 98
common and pref___)
8
8
8 10
8 per an.
7% 7
Com. and pref. in 1897, Mar., 2 p. o. each; June, 1% d.o. each—(see V.
64, p. 866, 887); Sept., 1% p. o. each; Deo., 1% p. o. eaoh; in 1898,
March, 1% per cent each; June, 1% p. o. eaoh; Sept., 1% p. o. each.;
Deo., 1 % p. 0. eaoh.
L eased L ines.—The Kansas Oity SI. Louis <fi Chicago is leased in perietuity from Nov. 1,1877, at rental of 35 per cent of gross earnings,
ts bonds are held by the U. S. Trust Co. as security for the Chioago
& Alton bonds of 1878, whioh have a sinking fund (m 1896) of $135,690 perannum. Common stock, $271,800, o f whioh $157,600 is owned
by the C. <fe A. Dividends of 7 per cent per annum were paid on K. O.
St. L. <&O. common till Nov. 1,1894, and $2-81 per share in 1896.
The Joliet <6 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 BB. was leased in perpetuity, Aug.
1,1870. Under the agreement of Nov. 13, 1894, the Alton assumed to
ay, in lieu o f rentals, all interest on the first and second mortgage
onds and their principal when due, also 7 p. 0. per annum on the guar
anteed preferred stock, and also to purchase the L. <fe M.R. unguaranteed
referred at $29 50 per share audthe common at $10 per share. Y.
9, p. 1057. Unguaranteed preferred stock is $1,010,000 and common
$2,312,700, neither of whioh have ever paid dividends In Deo..
1897, all but 287 shares of unguaranteed preferred and 467 shares of
common stock had been purchased by Chioago & Alton.
In 1877 took a lease in perpetuity o f the Mississippi River Bridge a .
7 p . 0. on $300,000 stock (all owned hy C. <fe A.) and 6 p.o. on bonds'"
and on April 29,1895, took a quit-claim deed o f the property. V. 59,
p .4 2 3 ; V. 61, p. 324G eneral F inances.—The Chioago & Alton Road has been par
ticularly strong in having a large local business between Chioago and
St. Louts. Its leased lines are as completely controlled as if owned.
In January, 1899, a syndicate represented by E. H. Harriman o f New
Y ork was negotiating for the purchase of a majority o f the stock.
Annual R eport .—The annual meeting is held in Chioago the first
M ondayin April. Annual report for 1897 was in V. 66, p. 423. See also
ditorial, p. 402. Earnings have be*«> as follows:
i
5 g5 g.
6
7 in 1898
7 in 1898
6 g.
6 g.
6 g.
6
7
7
i 7
7
F. «fe A.
J. & J.
Q .-M .
Q .-M .
Q.—M.
J. & J.
M. «fe N.
A. <fe O.
Q.—F.
Q.—J.
F. «fe A.
F. «fe A.
M. «fe N.
5
6
5
6
51« in ’ 98
7
5
5
4
4
4
5
A. «fe O. N.Y., F.L.«feT.Co.«feBost.
J. «fe D.
do
do
F. «fe A.
do
do
A. <& O.
Q,—M. N. Y., Boston and Chic.
J. «fe J. N.Y., Bk.of Com. <&Boat.
A. «fe O.
do
do
A. <& O.
do
do
A. <fe O.
do
do
M. «fe S.
do
do
F. «fe A.
do
do
M. «fe N.
do
do
Contin. Trust. N. Y.
Aug. 1, 1945
Fid.,I.T.«feS.D.Co.,Phila July 1. 1947
Sept.’9 8 ,1*«%
( N.Y., Cuyler.Morg’n > Deo. 1 ’98,1%%
( «fcCo <fcChio.Tr.Omce $ D eo.1’98,1%%
Lond’n,J.S.Morgan«feCo. July 1, 1903
N. Y., Cuyler,Morg.«feCo. May 1, 1903
do
do
Oot. 1. 1912
do
do
N o v .r o s .i3^
N. Y., U. S. Trust Co. Oot., ’9 8 ,1%%
N. Y., Cuyler, M. <&Co. Aug.,’ 9 8 ,3 32%>
do
do
Aug. 1, 1900
do
do
Nov. 1, 1900
Apr. 1, 1926
June 1, 1899
Feb. 1. 1903
Apr. 1, 1926
Deo. 15,*98,1*3
July 1, 1903
Oot. 1, 1901
Oct. 1, 1919
Oct. 1, 1919
Sept. 1. 1921
Feb. 1, 1922
May 1, 1913
und asse ts. $1,89 2,400. b, $182,000, and c, $3,452,000
eled and are here included.
Tear ending Dec. 31— 1897.
843
Mile* operated..........
Passengers................$1,961,398
F reigh t..................... 4,309,681
Mail, express, e to ...
402,527
1896.
843
$2,116,243
4,338,900
385,140
1895.
1894.
843
843
$2,134,155 $2,043,9124,289,909
3,881,544
378,421
366,780
Total gross earns... $6,673,606 $6,840,283 $6,802,485 $6,292,236Net earnings............. $2,519,930 $2,801,737 $2,819,492 $2,663,548
273,019Other receipts...........
233,483
234,257
241,525
Prem’son new stook.
344,779
Total reoeipts.........$2,753,413 $3,035,994 $3,061,017 $3,281,346
$430,475
$422,772
$632,98T
Rentals paid............. $489,776
Construct., equip., «fee.
36,488
52,378
18,765
26,218*
Interest on debt.......
585,665
587,959
579,618
527,504
1,778,448
1,778,448 1,729,424
Dividends.................. 1,611,718
47,940
169,401
24,506
168,227
Miscellaneous............
Balance, surplus... $31,826
$17,333
*$236,908
$196,986
~ ’ In addition $203,705 was paid for old olaims to Wiggins Perrv Oo
—(Y. 6 4. p. 3 5 7 , 3 7 0 , 866, 887; V. 66, p. 335, 4 2 3 ; V. 67, p. 221,10541262; V. 68, p. 40.
C h ic a g o B u r l i n g t o n Sc N o r th e r n R R . — (See Map o f O. B. <£ Q.)
Road from Oregon, 111., 00 St. Paul, Minn., 343 miles, including track
age 25 miles (318 miles owned); other trackage, 5 miles; owns from
Fulton to Savanna, 111., 17 miles; branches, 6 miles; total, 371 miles.
Completed Aug., 1886.
Stock ,—June 30,1898, C. B. & Q. owned $9,946,500 (V. 50, p. 390.1
B onds .—The C. B. <fe Q. and Chioago & Iowa give a trafflo guarantee
for 20 years from ’ 85 of one-half of their net earnings derived from busi
ness to and from the Northern (to be not less than $100,000 per year)
tor the retirement of Chioago Burlington <feNorthern firsts at 105; and
after March 31,1896, the whole issue may be retired at 105. The
amount of firsts outstanding has thus been reduced from $9,000,000
to amount in table. See description of mortgage in October, 1896,
Su ppl e m e n t page 1. Funding notes for $230,000 were issued in 189 4.
The debentures of 1896 for $935,000. due Deo. 1,1896, were replaced
by second mortgage 6s. The $3,450,000 2d 6s have been called fo r
payment at par and interest on June 1, 1899, the O. B. <feQ. to advance
the necessary funds out of treasury cash and no new bonds to be
issued. V. 67, p . 1054.
Year ending June 30. 1898, gross, $2,000,462; net, $623,095; deficit
under interest, eto., $207,593; in ’96, gross, $1,839,507; net, $363,343.
—(V. 66, p. 616; V. 67, p 1054.
C h ic a g o B u r l i n g t o n Sc Q u in c y R R . — (See Map.)—R o a d .—Ope
rates a great system of roads extending from Chioago westerly, reach
ing St. Paul and Minneapolis, Minn., St. Louis and Kansas City, Mo.,
Omaha, Neb., Denver, Col., Cheyenne,Wyo., Black Hills, S. D., and Bil
lings, Mont. The accompanying map shows clearly the system.
Road owned, leasedetc.
Miles. I OontrolVd and operated, t Mile .
Chioago to Denver, Col.......... 1,046 I Chioago Burl. <fc Northern....H 371
Branches and leased lines
Kan. 0. St. J. <&Ooun. Bluffsjf—
practically owned................4,607 | Kan. C. to Coun. Bluffs, eto. 3 I d
Used jointly with other Co.’ s. 207 I St.Louis K. «feN.W. (all own’d) 225— — I Chicago Burl. <fe Kau. C ity... 236
Total system proper.......... 5,860 I Hannibal <fe St. Joseph.......... IT297
Second track............................
297 I
-------f Separately described.
I Total system, stand, gauge..t7,18 O
t Less 119 m. already included. |Narrow-gauge........................... 17 9.
O rg an ization , «fee. This was a consolidation in July, 1875, o f the
Chioago Burlington <fe tjuinoy in Illinois and the Burlington <fe Missouri
River in Iowa. In 1880 the Burlington & Missouri in Nebraska w as
absorbed. The leased lines are praotioally owribd and there is no charge
for rentals in the income aooount, except as interest on bonds.
L ands.—Only 47,669 acres remained unsold June 30,1898; land notes
outstanding, including interest payable, $239,465.
Capital Stock.—The stook has been increased for the acquisition
of new lines, and in 1880 a distribution of 20 per cent was made. Stook
for $5,595,300 was sold at par to stockholders in February, 1893. In.
1898, $923,300 stook was issued for an equal amount of convertible
debentures. V. 67, p. 842.
O i v s . - >’ 81-87 ’ 88 ’ 89 ’ 90 ’91 ’ 92 ’93 ’94 ’95 ’96 ’ 97 1898.
Per cent. $ 8 yrly 5 4
5 4% 5
5 4% 4
4
4 5 *9%
In 1898, March, 1*4 p. 0.; June, l 3* p. 0.; Sept., I 3« p. 0.; Dec., I 3« p. o.
Sinking F unds.—Included in the bonds outstanding in the table
«bove are sundry bonds of the company whioh are held alive and
drawing interest for aooount of the various sinking funds.
Bonds.—For full description of eaoh loan see the editorial artiole on
pages 3 to 6 of Supplement of Oct., 1896, and Chronicle V. 63, p. 775.
The eonsol. mortgage of 1873 is for $30,000,000, of which $1,076,000
reserved to retire a like amount of Ottawa Oswego <fe Fox R iver
guaranteed bonds. The consols are a first mortgage or first
collateral lien on 755 miles of road in Illinois and on Chioago terminal
property, and on payment of $1,076,000 Ottawa Oswego <fe F ox
River bonds July 1,1900, will embrace its 68 miles additional.
The Iowa Division bonds are a first mortgage on the main line la
Iowa from Burlington to East Plattsmouth on the Mo. River, 278 miles,
and on 122 miles of branches; they are also a first collateral lien on 420»
J a n u a r y . 1899 i
KA 1LBOAD
STOCKS AND
BONDS
31
99
INVESTOKS*
SUPPLEMENT.
[V ol. L x v n r .
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d In th ese T a b le s .
RAILROADS.
Bonds—Princl
INTEREST OF DIVIDENDS.
Miles Date Size, or
Amount Rate per
pal, When Due
f o r explanation o f column headings, &e., see notes of
of
Par
When
Where
Payable,
and
by
Stocks—Last
Outstanding
on first page o f tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Chicago Burlington A Quincy—( Concluded )—
Nebraska ext., $20,000 p. m. (s. f., not drtn).c*&r 1,472 1887 l , 000&c (26,110,000
4
M. & N. N.Y., Bk.of Com. & Bost. May 1, 1927
Chicago & Iow a Div., collat trust..................c* 121 1895
1,000
2.320.000
5
F. & A.
do
do
Feb. 1, 1905
Convertible debentures (See remarks)............c*
1890-2 100 4tc. 11,793,200
5
M.
& 8.
do
do
Sept. 1, 1903
B.&Mo.RR. inNeb. 5 Land grant, s. f., dr. at 100)
51878 600 &c, g8,441,000
6
J.
&
J.
Boston,
Bk.
of
Com’rce.
585
July
1, 191$
Con.M$14000000 ( Exempt, not dr*n till 1908 J
<1878 600 &c,
5,000,000
6
J. & J.
do
do
July 1, 191$
Burl. & Mo. RR. in Neb., s. f. for At.&Neb.RR.st’k ..
1880
1,000 b 3 ,347,000
4
J.
&
J.
do
do
Jan.
1,
1910
Rep.Val;,lstM .,gu.,(dr. at 100) s. f.,$14,000 y ’ly.c "90 1879 600 &o. h i , 078,000
6
J. & J. Boston, Bk. of Com’rce. July 1, 191$
Ottawa Oswego & Fox River, 1st mortgage___o*
67 1870
1,000
1.076.000
8
J.
&
J.
N.
Y.,
F.L.&T.CO.&
Bost.
July
1,
1900
Atch. & Neb., IstM ., At. to Lin., Neb., etc., guar 0* 145 1878 1 0 0 & o .
1.125.000
M. & S. Boston, Bk. o f Com’rce. Moh. 1, 190$
7
2d mort. on Atch. & Neb. RR. (1st M. on bridge)
1887
See text.
6
J. & D.
Boston.
Deo. 1, 1927
Llhc’n &N.W .RR.lstM . guar., s .f.l p.c.,notdr’n .. ” 73 1880
1,000
600,000
7
J.
& J. Boston, Co.’s Office.
Jan. 1. 1910
O. B. A Q. System—St. L . Keokuk A N .W . 1st M . . .
1890
See text.
6
F.
&
A.
Boston.
C.
B.
&
Q.
office
Feb. 1, 193$
Chic. A Baal. Illinois—Com. stock ($15,000 p. mile).
Too 6,197,800 2*g in ’98
New York.
Jan. 2’99,lia%
Pf. st’k, $ 10,000,000,6 p.o.non-cum($10,000 p.m.)
100
5,830,700 6 in 1898 Q.'-^j. N.Y., Hanover Nat. B’k Jan.2 ’99,1^3%
1st mort. (s. f. $20,000, no drawings)..................o* 107 1877 1 0 0 & o . 2.989.000
6
J. & D. N.Y.,4th Nat.Bk.& Boat. Deo. 1, 1907
Danville & Grape Creek RR.—1st M., assumed.. 0*
7 1880
1,000
119.000
M. & N. Boston. Globe Nat. Bk. May 1, 1920
6
Extension, 1st mortgage..................
c*
15 1881
1,000
103.000
6
J. & D. N. Y ., Fourth Nat. Bank. Deo. 1, 1931
Consol, mortgage (for$6,000,000),gold s. £ " '."c* 127 1884
1,000
2.788.000
A.
& O. N. Y., Central Tr.&Bos. Oct. 1, 1934
6
g
Collateral trust bonds, sinking fund........
0*
1887
1,000
42,000
F. & A. N. Y., Central Trust Co. Feb. 1, 1912
General con sol and first mort. $30,000,000..c<fcr 256 1887 1,0004m 10,069,000
f®
M.
& N.
do
do
Nov. 1, 1937
Chic.* Ind. Coal—IstM. $25,000p. m., assumed.c* 174 1886
1,000
4.626.000
5
J. & J. N. Y., Met. Trust Co. Jan. 1, 1936
Chicago A Erie—Stock (all held by Erie)..................
100
100.000
1st M., gold, interest guar, till principal is paid.. 0* 249 1890
1,000 12,000,000
5 g. M. & N. New York, Erie RR.
May 1, 1982
Income bonds for $10,000,000 5 p. o. non-oum... 249 1890 1,0004m 10,000,000
Mostly owned by Erie RR.
Oct. 1, 1982
Terminal 1st mortgage, gold....................................
1888
300,000
J.
&
J.
New
York,
Erie
RR.
J u l^ 1918
Chicago Fori Madison A Des Moines—1st mort.,gold
K g< J. & J.
1891
1,000
1.313.000
6
g.
Income bonds................................ .
74,750
c u t s t o Ä ^ o F Ä ^ .Ä ^ ^ ^
“
J“ ™ June 30,1898, of the bonds given ab ove.*
■
,“ ‘
. "1 jpi.924.ouu, K, $307,000. Also oanoeled bonds not inoluded above, f, $3,331,000, July, *qq
miles o f branches and 86 miles o f seoond track. These bonds have a
Dines owned in fee.
Miles. Double traok...........................
/od>
sinking fund of 1*3 per oent ($203,800) yearly, for whioh the 4s are Dolton to Altamont, 111............ 224 Side
tracks..................... ............ 232
subject to oall at 100, the 5s at 105. The single main line and branches Roseville to Sidell, 111............... 34
Proprietary
lines
(leaded.)
Miles.
covered “ shall not exoeed in the aggregate 900 miles,” at $16,000 Mo mence to Ind. State line—
Evans. T. H. & Chic. RR.,ff___ 49
per m ile; on second track (of whioh Jan. 1,1897, there were 88
Juno. Chic. & Ind. Coal R y... 11 Ind. Block Coal R R .................... 13:
miles) may be issued an additional $14,000 per miia (y. 65, p. 462.)
Cissna
Juno,
to
Oissna
Park...
11
Trackage, etc.
Denver Extension bonds can be increased only for seoond track at Ohio. & Indiana Coal Div*.,Brazil
Otter Creek Juno, to Terre H .. 6$10,000 per mile.
to La Crosse, Ind., eto............ 183 Dolton to Chicago, Ch.&W.Ind. 17
The collateral trust Nebraska extension bonds of 11887 (New England
Altamont to Marion and brs.100
Trust Co., of Mass., trustee) are issued at $20,000 per mile for single
Total operated June 30,1898.649
and $10,000 per mile for seoond traok on not exceeding 1.500 miles.
A h u tr a c t o f deed V. 45, p. 441.
t ^ftsTORT. L eases , <fec.— Reorganized under existing title in 1877
Burlington A Missouri BB. in Nebraskaconsol. mortgage of 1878 is for i 1?
1887, consolidated with Strawn & Indiana State
$14,000,000, and is now a 1st M. or 1st collateral lien ; all except the Line BB. and Chicago Danville & St. Louis RR. (V. 46, p. 135), and on
$5,000,000 of exempt bonds are subject to call for the sinking fund at June 6,1894, with Chicago & Indiana Coal RR. See V*. 58, p. 987; see
par, $231,200 having been retired in 1896. The “ exem pt” bonds mav 5“ ®.° V'
Also owns control of Evansville Terre Haute 4c
he called after L908.
aQd $1,000,000 stock of the Chicago <k Western Indiana—
The 5 per cent debentures of 1890-92 are convertible $ for $ into stock which see, having all the local traffic of the latter road from Dolton
any time prior to Dec. 1,1902, except when books are dosed. $2,669,l a January, 1890, a ten-year traffic contract was made
000 had been thus converted up to Dec., 1898. V. 67, p.842. dee with the Evansville & Terre Haute for the operation o f a through line
terms o f conversion on page 5 of the S upplement for Oct., 1896.
between Chicago and Evansville. (V. 55, p. 995.) In Maroh, 1897, the
Many of the bonds are redeemable (may be drawn) before maturity at Chicago Paducah & Memphis, 100 miles, was purchased, and a connec
various prices, plus accrued interest, as stated in the table above.
tion from Shelbyville to Altamont, 25 miles, built. (V. 64, p. 516.>
Iow a Division bonds, $53,000 5s and $176,000 5s have been drawa
Capital ST°0K.-The common stook ($15,000.000 authorized) is e n
by lot, and will be paid April 1,1 8 98 .—V. 67, p. 1159.
to all surplus after 6 per oent on the preferred stook. In addition
G eneral Finances.—The Chicago Burlington & Quinoy Railroad titled
to
the amounts outstanding in the table, $3,991,500 common and $628,nas been one o f the most profitable in the oountry, as its numerous 900
preferred
were held in the company’s treasury June 30,1898.
branches tributary to the main line were built into choice agricultural
territory. Com, however, being one of the principal articles carried
Dividends (1888
’ 89
’90
’91
’92 to Jan ’ 99, inol.
by it. its earnings vary greatly according to the size of the crop.
2?
^
6
6 stk.
4 >3
6 p. o. yearlv
The company’s sinking funds have reoeived to June 30,1898 over
First dividend on common, 2ia p.c., paid July 1,1898. In 1899, J a n $18,000,000. With this money about $8,000,000 of the company’s l*a p. 0.—V. 66, p. 10S8.
bonds have been canceled, while the remainder of the oash not so used
Bonds, G uaranties, <fcc.—The Chicago & Eastern Illinois guaran
has been invested for the benefit oC the several siuking fund loans
tees the interest on Evansville Terre Haute <&Chicago issu*-> (see that
in bonds that are held alive drawing interest a n l are therefore company)
and interest on $150.000 Indiana Block Coal 1st 7s.
included in the company’s outstanding debt. In 1897-8 the aggregate
Tne general consol, and, lsi mortgage of 1887 (trustee, Central Trust
sinking fund income was $1,344,382, of whioh $778,612 is the amount Company)
provides for the retirement of $6,042,000 prior bonds and
oarried direct to the sinking fund and the balanoe appears in the ao for issue of
bonds on new road at $L8.000 per mile for single traok
counts merely as part interest on funded debt.
also
for
bonds
for equipment at $7.000 per mile and for double traok at
Debentures aggregating$31,910,900 have been issued; of this amount $8*000 per mile,
in 1897 the total Issue of geu. consol, bonds was
$9,000,000 was used to purchase the Hannibal & 8t. Joseph, from limited to $30.000,000
bonds were reserved for Chioago &s
whioh a good income is received, while $7,647,000 was used to buv Indiana Coal firsts. Seeand
Y. 64, p. 1088. The gen. consols arc
other stocks and $15,263,900 for improvements, etc.
a
first
mortgage
on
256
miles of road, Including the
As unencumbered assets, on the other hand, the company owns line from Rossville via
Sidell to Altamont, etc.; also on
besides the $14,244,900 Hannibal & 8t. Joseph stock above men equipment
valued
at
$2,657,000,
and
real estate in Chioago cost
tioned, a large amount of stooks and bonds, a list of the same being ing over $1,200,000. Tney also coverupon
106 miles of double traok from
in Y. 63 on pages 778 and 877. The road owned unbonded and the Danville to Dolton, III., and rest of property
subject to prior liens
roads whose bonds are all owned were in 1898, as follow s:
Chicago A Indiana Coal first mortgage o f 1886; trustees are Metro
politan
Prust
Company
and
R.
B.
F.
Pieroe.
Northerly Extension. Alliance, Neb., to Billings, Mont., and branches..
St. Louis Keokuk & N. W . (all its $i5..>9.g80O bonds owned and unpledged)
G eneral F inances.—This oompany owns most of the capital stock
830 of the Brazil Blook Coal Co., and carries all its coal. It carries also
Keokuk. Ia.. to St. Louis, Mo. (N et earnings In iSSU-95.1691,02*11.............
Other lines o f m oderate earning caoaclty (Cb. B irl. & K. C., etc.) securities
the
ooal of the Grape Creek region.
all or nearly all owned and unpledged......................................
.................. 477
On June 30,1898, bills payable, none; Chicago P. & M. car trust
An article covering fully the above points was in V. 63, p. 775.
notes (including interest), $399,014. In June. 1898, the preferred
L atest E arnings.—From July 1 to Nov. 30 (5 months) earnings stook was raised from $4.830,700 to $6.459.600, an increase o f $ 1,including lines controlled, w ere:
628.900, of which $623,900 held in treasury, balance for im prove
. %™onths- „
Cross.
Net.
Charges.
Balance. ments, etc. V. 66, p. 1236.
1898............$19,684,992
$8,307,714
$4,360,000
$3,927.714
E arnings.—For 5 months, July 1 to Nov. 30:
1 8 9 7 ........... 19,471,861
8,299,745
4,352,146
3,947,599
5 moS.—
Cross.
Net.
Other inc.
Int., Ac. Bai., surp.
A nnual R e p o r t .— Fiscal year ends June 30. Report for 1897-98 was 1 8 9 8 ............ $1,919,566
$8-*5,630 $93,343
$635,848 $343,139
in the Ch ro n icle , V. 67, p. 786, 839, 851 (see also editorial, p. 823( 1 8 9 7 ............. 1,776,947
799,132
52,960
632,841 219,25L
showing operations, including results of the O. B. <fe N. and all the
A nnual R eport .—Fiscal yeaitends June 30. Annual meeting is held
“ controlled” roads, as follow s:
In Chioago on the first Wednesday in June. The annual report fo r
1897-98.
1 «96-97.
1897-98 was in V. 67, p. 424. The oompany receives low rates for its
Gross earnings........................................ ...$42,800,162
$35,526,186 freight, the rate per ton per mile being 51-100 of a oent in 1897-98»
Expenses and taxes.................................... 27,810.886
22,661,769 51-100 in 1896-97; 54-100 in 1895-96; 59-100 in 1894-95. Of the traffic
about 64 per oent in year 1893-94 was ooal.
N et....................................... ............... $14,989,276
$12,864,417
Tear end. June 30.
1898.
1897
1896.
1895.
Proportion o f expenses to gross earnings
(647s>
(63*5)
Miles operat. June 30 648
648
522
522
Other income (approx in 1896 7 )..........
534,161
383,429 Gross
earnings.......... $4,221,438 $3,927,610 $4,014,624 $3,667,869*
Oper.
exp.
&
ta
x
es...
2,619,632
2,423.915
2,433,888
2,508,371
Total income........................ ................$15.523,437
$13,217,846
Interest,rentals, etc. (approx, in 1896-7) 9.440,645
9,440.000
N etearnings..........$1,691,806 $1,503,695 $1,580,736 $1,159,499
P. c. op. ex. to earns..
(62-05)
(61-72)
(60-62)
(68-38)
B alance.................................................. $6,082,792
$3.807,846 Net (inoloth. income).$1,768,092 $1,661,407
$1,735,380 $1,329,151
Dividends................................................ (4is%)3,690,126 (4%)3,280,112
Interest p a id ............. 1,083,052
1,002,553
968,995
962,901
Rentals........ .............. 229.651
241,156
234,478
234,959
B a la n ce ................................................. $2,392,666
$527.73 4 Olv. on pref. stock . .(6) 289,842 (6)289,842
(6)289,842 (6) 289,842
Renewal fund................................................ 1,000,000
Div. on oom. stock ..(2^) 154,945
Surplus................................................... $1,392,666
$527,734 Balance...................... sr.$10,602 sr.$127,855 sr.$242,065 df.$158,551
The operations o f the system proper have been:
- (V . 65, p. 665, 7 2 4 ; V. 66, p. 1088,1139,1236; V. 67, p. 176, 4 2 4
Fear end. Dec. 31— 1896.
1895.
1894.
1893.
110J.)
f
Miles operated..
5,860
5,730
5,730
5,596
Gross earn s...$25,553,073 $24,874,192 $24,667,132 $31,042,969
C h ic a g o 4c E r ie R R . - (See Map ErieBB.)—Owns from Marion, O.,
Net earnings......$8,703,077
$8,163,653
$8,383,066
$9,818,465 to Hammond, Ind., 249 miles, and leases trackage over Chioago 4r
West. Indiana to Chioago, 20 miles. Practically merged in Erie. RR Co.
—(V.67, p. * 7 2 , 370, 427, 7 8 6 , 823, 8 3 9 , 842, 8 5 1 ,1 1 5 9 ,1 3 5 6 .
Bonds.—The first mortgage (trustees Central Trust Co. and Edward
C h ic a g o & E a s t e r n I l l i n o i s R R . — (See Map.)—Operates road Daniels) oovers 249 miles of road, the contract with the Chioago 4c
(double traok to Danville, 106 miles) fromChioago, 111., to Terre Haute Western Indiana, $1,000,000 o f that company’s stock and $240,009
Ind., and the bituminous coal fields. (USeethis 00.)
stook of Chioago Belt Ry. See abstracts V. 51, p. 911, V. 61, p. 750.
J a n u a r y , 1899. J
RAILROAD
STOCKS
AND
BONDS
33
34
INVESTORS’ SUPPLEMENT.
fVO L.
L2CVIHI.
S n b acrtb era w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d lg c o v e r e d I n tb e g e T a b le s .
RAILROADS.
INTEREST
Miles Date Size, or
Amount
For explanation o f column headings, &c., see notes of
of
Par
Rate per When
Outstanding
on first page o f tables.
Road. Bonds Value.
Cent. Payable
Chicago & Or. Trunk—Northwest Or. Tr., 1st mort.
66 1880 $500&o.
$546,000
6
J. & J.
1st mortgage for $6,000,000, $ (eur.) & * .......c&r 327 1880 £100 &c
5,454,000
6
J. & J.
2d mortgage (currency).....................................o*<fer 327 1882 l,000&c
6,000,000
5
J. & J.
Chicago G reat W estern—
C. St. P. & K. O. prior loan, red. at 105, assumed. 815 1889
2,823,150
J. & J.
Deb. stock, cum., g., $30,000,000, div. in cash, g. ....
....
100
9,983,900 . 5
4 g*
g. J. & J.
Do. cum. dividends, payable in scrip.................. ....
too
2,228,000 4 scrip. J. & J.
Debenture scrip (not interest-bearing).................. ....
f'0,159 No int’st
Preferred stock A, $15,000,000, 5 per cent, gold. ....
100
8,073,800 2 Jan.’99 J. & J.
Do. dividends, payable in scrip .........................
100
3,0-5,800 2 sop.’99 J. & J.
Pref. stock B, 4 per cent $10,000,000.................... ....
100
....
7,489,190 5 None >
Common stock, $30,000,000..................................
.... ....
100
1 paid. (
C. St. P. & K. C. equip, lease warrants, assumed. ....
...... 21,222,095
1,042,950
7
M’ thly.
Sterling 5-year notes 6s (no mortgage) gold........
.... 1896 £100&c 1,454,545
6 g. Sem-an.
Sterling 5-year notes 5s of 1898 (no m ortgage).. .... 1898 Various
1,100,000
Semi-an
5
g.
C. G. w. equipment lease warrants.......................
.... 1896
80,000
6
M’nthly
C. G. W. equipment lease warrants..... .................
.... 1898
550,358
5
M’nthly
Chic. Ind. <£ East.—1st M., g „ $15,000 p.Jm IC..C*
1895
1,000
(Î)
J.
& J.
5 gChicago In d ia n ap, & L ouisville—Com. stock... ....
....
100 10,500,000
Preferred, 4 per cent, non-cum., $5,000,000........
....
100
5,000,000
L.N.A.&CL IstM. Lou.Div.—N.A. to Mich. City.c* 288 1880
1,000
3,000,000
6
J. & J.
1st M., Chic. <fe Ind.Div., Chic, to Ind., gold..o* 158 1881
1,000
2,300,000
6 8- F. & A.
C. I. & L. refunding mort., $10,300,000, gold, 5s. 512 1897
1,000
3,177,000
J.
& J.
o 8Do
gold 6s, Issued for old consols............... 512 1897
1,000
4,700,000
6 g. J. & J.
Perry Mathews Buskirk Stone Co., 1st M., guar.. __
250,000
Indiana Stone RR. 1st M. guar............................... ••1.
....
(Î)
Chicago Junction—Common stock............................ ....
....
100
2,200,000
Chic. Ham. & West., 1st M., $2,500,000, g...c*&r .... 1897 500 &c.
2,000,000
6 g J. & J.
Chic. Kalamazoo <6Saginaw—Stock ($2,000,000 au.)
45
....
100
450,000
1st M., $225,000, gold, subject to call at 103...o* .... 1895
1,000
See text.
6 g. J. & D.
Chic. Lake Sh. <£East.—Divisional bonds (see text) ....
720,000
6
J. & J.
__ 1897 1,000 1,200,000
1st mortgage, red. at par, gold....................M c.c*
5 g. M. & S.
Equipment, gold, sink, fund (red. at 105.)OTC.c*
1897
1,000
1,310,000
5 g. J. & J.
Bonds—Princi
OR DIVIDENDS.
palWhen Due.
Where Payable, and by Stocks—Last
Whom.
Dividend.
( N.Y. Meehan. Nat.Bk. Jan. 1, 1910
)
& London.
Jan. 1, 1900
N. Y., Meohan. Nat. Bk. Jan. 1, 1922
N.Y.,Lon. & Amsterdam Jan. 1, 1934
London,R.Benson & Co. Jan. 15,’ 99,2%
do
do
Jan. 15,’99,2%
London, R.Benson &Co. Jan.31,’99, 2%
do
do
Jan.31,’ 99, 2%
New York City.
1898-1901
London,R.Benson & Co. 1901 & 1902
London.
1903
New York.
1899-1906
do
1899-1903
Chic., 111. Tr. Se Sav. Bk. Jan. 1, 1935
N. Y., Chase Nat. Bank
do
do
do
do
do
do
July
Aug.
July
July
N. Y., Cent’l Trust Co.
Jan. 1, 1927
Detroit, Union Tr. Co. Dec.
July
Chicago, HI.
Mch.
do
do
July
*1,
1,
1,
1,
1,
1,
1,
1,
1910
1911
1947
1947
1900
>914
1917
1917
Sc D e s IH olnes R R . — Owns Port loan 6s, $1,454,000 ; gold notes 5s. $1,100 000 and for neoessarv canMadison to Ottumwa, la., 71 miles, in Deo., 1892. Successor in Jan I ital expenditures in 1900 and 1901
’
’
necessary cap
uary, 1899, to the railway company, foreclosed and purchased for the I
bondholders by wJesse
A.
Baldwin
of
Chicago.
Stock,
$852,000.—V.
*8,
vw ov
n i u w i, v u i v a i g i / i
«p a J * | V V V .
V•’ O«
E arnings .—Approximate statement fo r half-year ending Deo. 31,
p. 84. In year 1896-9 ?, gross, 73,813; net, $8,541; charges, $69,173: 1898 •
balance, deficit, $60,632.—V. 67, p. 222,1002; V. 68, p. 84.
rPJ'n mosOross.
Net.
Charges.
Surplus,
C h ic a g o Sc G r a n d T r u n k R y . — Owns from Port Huron, Mich., to J898 .............. $2,971,946
$1,037,646
$719,6«9
$31/,947
Elsdon, 326*5 miles; leases Grand Trunk Junction Railway, 4 miles, 1897................ 2,819,087
911,464
668,130
243,334
and trackage Chicago & West. Indiana, 4*5 m iles; total, 335 miles.
A n n ual R e p o r t .—Report for 1897-98 in V. 67, p. 423, 433, show ed:
Stock, $6,600,000 in $100 shares. The Grand Trunk of Canada
Year ending June 30.
1898.
1897
1896.
gives a traffic guarantee of 30 per cent of its gross earnings on inter
changed traffic. Third mortgage for $6,000,000 was authorized in Total gross eaming3....................... $5,386,044 $4,680,859 $4,709,820
Net
income....................................
.
1,435,671
"
'----------**----------1,100,272
1,255,577
April, 1893, but will not be issued to the public. On Jan. 1, 1898, in
448,613
436,602
434,207
terest due was $225,078; sundry outstanding accounts and wages, Rentals (incl. equipment)............
141,157
141,158
141,158
1,909,085; contra, cash $81,596; “ sundry assets,” $567,685, and traffic Interest priority loan................
do
sterling, etc., loans.........
111,062
69,594
45,334
balances, $89,502. Grand Trunk Ry. owned Dec. 31,1897, £260,210
Int. in cash on 4 p.c. deben. stock
1396,524
t364,541
321,908
firsts, £605,753 seconds and $5,806,322 stock.
E arnings.—(5 mos.), ) 1898........... Gross, $1,455.011; net, $234,414
Balance......................................
$338,315
$90,772
$310,575
July 1 to Nov. 30. 51897........... Gross, 1,352,661; net, 156,164
t Also interest amounting to $95,880 in 1897-8 and $118,411 in
For six months ending June 30, 1898, gross, $1,831,753; net, $398,- 1896-7 was paid with scrip convertible into debenture stock at par.
316; charges, $439,157; balance, deficit, $40,841. For year ending
A. B. StlokDey, President, St. Paul, Minn. New York 'Transfer office
Dec. 31,1896, gross earnings were $3,151,930; net, $273,256: interest 18 Wall Sttree.—(V. 67, p. 2 1 9 , 4 2 3 , 4 3 3 , 481, 633, 900, 1206,1308;
o n bonds, $660,000; rentals, etc., $207,395; balance, deficit, $594,139, V. 68, p. 82.)
paid by Grand Trunk of Canada under traffic agreement. In 1895
C h ic a g o H a m m o n d & W . R R . —See Ch ic a g o J unction R y .
gross, $2,796,178; net, $99,371. (V. 60, p. 794.)
C h ic a g o I n d ia n a Sc. E a s t e r n R y . — Owns Swayzee, Ind., to
C h ic a g o G r e a t W e s te r n R y . — ('-See Map.) —R oad .—Operates the
Matthews,
22 miles. In Jan., 1899, Matthews to Richmond, 51 miles
•“ Maple Leaf” route, radiating from Oelwein, la., northerly to St. Paul,
and Swayzee to Converse, 6 miles, under construction. Stook author
easterly to Chicago and southerly to Kansas City, and embracing :
ized, $10,000 per m ile; outstanding Oct. 1, 1898, $100,000.
Lines Owned —
Miles. I Trackage, etc.
Miles.
President, Eugene Stewart; Sec. and Treas., John H. Miller, PairChic. St. P. & Kan. City By.—
|St. Paul to Minneapolis............ 11 mount, Ind
Chicago to St. Paul, Minn.,
i Chicago terminals (V.65, p. 521) 10
C h ic a g o I n d ia n a p o lis Sc L o u i s v i l l e R y . — (See Map.)—Oper
and St. Joseph, M o............. 690 I Dubuque to Aiken...................... 16 ates the -‘ Monon Route” from Chicago, 111., viaMonon, Ind., to Indian
Branches to Hayfleld, etc— 131 I Des Moines terminals............... 3 apolis, Ind., and Louisville, Ky., with branches—the system including:
Bee Creek to Beverly (nobds.). 23 |Leavenworth to Kansas City.. 46
Lines owned—
Miles.
Oper. under contract—
Miles.
Indiana State Line to Indianap .162 Chicago to Ind. State Line....... 20
Total operated...................................................................................... ..
New Albany to Michigan City .289 New Albany to Louisville........
5
The Leavenworth Terminal Ry. & Bridge is used into Leavenworth. Bedford to Switz City............... 40 Connection in Indianapolis___ 2
In Sept. 1898. the Chicago Gt. West, was running a preliminary line Orleans to Fr. Lick Springs___ 18
from Hampton,la., to Omaha, Neb. V.67,p.481. See also V. 67,p. 1308.
Total o f all............................536
A lease for 999 years with Chicago & Western Indiana (of whose stook
H is t o r y .—The Chicago St. Paul & Kansas City was organized in
May, 1886. and in December, 1887, merged with Minnesota & North this «so. owns $1,000,000) gives entrance to Chicago on a mileage basis.
western, chartered in 1854. First mortgage coupons, Jan. 1, 1890,
H is t o r y .—Successor July 1,1897, of the Louisville New Albany Sc
to July 1,1892, inclusive, were funded into priority loan for $2,823,- Chicago Ry., foreclosed and reorganized per p la n in V. 63, p. 922.
150. In August, 1892, reorganized per plan, Yol. 55, p. 856. Each
St o c k .—In the reorganization, holders of the $9,000,000 old common
$1,000 o f Minn. & N. W. and Chi. St. P. & K. C. first mort. bonds was
buying 21a p. c. new preferred at par received 33*3 per cent in new
given $500 debenture stock and $600 pref. “ A ” stock.
On Sept. 7,1893, the Chicago Great Western Co. having thus become common, and the holders of the $7,000,000 old preferred buying 7Lj
the owner of over 97 per oent of the 1st mortgage bonds and over 99 per p. o. of new preferred at par received par in new common stook.
B onds .—Refunding mortgage covers road, equipment, eto. (including
cent of the general mortgage bonds, aoquired by deed the title of the
Chicago St. Paul & Kansas City Ry. (815-67 miles), subject to the $1,000,000 stock of Ch. & W. Ind and $240,000 stock of the Belt
By.
of Chicago) ; total authorized issue is $15,000,000, of which
mortgages, the bonds which it owns being kept alive. It also acquired
the title totheLeav. & St. Joseph Ry. (23 miles) .which is unencumbered reserved to take up existing divisional bonds at maturity, $5,300,000;
S e c u r it ie s .—The holders of debenture and preferred A stock ap to be issued only for betterments and equipment, not to exceed $300,point the finance committee, which exercises general supervision of 000 in any one year, $2,091,000. Trustees are Central Trust Co., N .'
„ and James Murdock, of Lafayette, Ind. Bills payable June 3 0 ,
finances. Additional securities of said issues can be put out, but only Y
with consent of a majority of both said classes of stock present at a meet 1898, $100,000.
G e n e r a l F inances .—The reorganization in 1896-97 reduced tho
ing. Securities of other issues having a lien prior to preferred A can be
created, but only with consent of two-thirds of both classes. The sev annual fixed charges from $1,019,486 to $955,450. It also provide j
eral classes in case of liquidation will have principal paid in gold ac $2,100,000 cash, of whioh $700,000 for new terminals, air-brakes an i
cording to their priority right to dividends. At extraordinary general other improvements, the remainder for floating debt, etc See state
meetings of holders of debenture stock and preferred A stock collect ment to N.Y. Stock Exchange in July, 1897.—V. 65, p. 194. Listed to
ively, holders of one-tenth of said stocks outstanding, present or rep Dec. 31,1898: Refunding 5s, $3,077,000; refunding 6s, $4,700,000.
resented, constitute a quorum and by a majority vote have power to
E arn in gs .— (5 months), /1 8 9 8 ....Gross, $1,509,151; net, $511,198
sanction any modification of the rights of said stocks. The provisions
July 1 to Nov. 30.
51897___Gross, 1,527,794; net, 498,570
o f the several classes of stock and of the trust deed were fully set
A
n n ual R e p o r t .—In V. 67, p. 733,' show ed:
forth in the editorial article of the Su ppl em en t for October, 1897.
Year end. June 30— 1897-98.
1896-97.
1895-96.
1894-95.
New Debenture Stock.—The debenture and preferred “ A” stockholders
voted in 1898 to increase the authorized issue of 4 p. c. debenture Iross earnings............$3,323,671 $2,902,760 $3,291,972 $3,067,014
Net
earnings.
967,663
860,322 1,111,583
996,104
stock from $15,000,000 to $30,000,000. The purpose is to devote the
75,038
74,400
70,800
78,600
proceeds “ to redeem at the discretion o f the finance committee from Dividends received...
time to time, as opportunity offers at or before maturity, any or all of
Total net income. $1,042,701
$934,722 $1,182,383 $1,074,704
the liabilities o f the company whioh are a charge prior to the 4 p o
Interest on bonds.......
745,450
775,450
773,496
debenture stock,” and for improvements.—V. 66, p. 133, 6 6 3 ,1088r
740,000
208,122
234,334
225.991
On New York Stook Exchange in January, 1899, $13,308,000 deben Rentals, etc................
264,886
ture stock had been listed. Cash interest will be resumed on all the
Total...................... $953,752 $1,009,784
$1,019,487 $1,004,886
debenture stock and all the preferred “ A” will be entitled to cash divi
dends when the $232,550 debenture scrip on hand Jan. 1,1899, shall Surplus......................
$89,129 def.$75,062
$162,896
$69,818
have been paid out in interest [or dividends] per arramrement of 1894
Of f ic e r s .—Samuel Thomas, President; John A. Hilton, Sec. and Ast.
<Y. 59, p. 470), which will be Jan. 1,1900.—V 6 7 ,p . 1206.
Treas.; W. H. Lewis, Treas. and Assist. Sec. (Y. 07, p. 7 3 3 , 1356.)
D iv id e n d s .—First semi-annual dividend, 2 p. c., on preferred paid
C h ic a g o J o n c t i o n R a i l w a y . — Owns a belt line around Chicago
Jan. 31,1899. V. 67, p. 1206.
v
p
from Hammond to La Grange, 111., 35*20 miles and extension. La
G e n e r a l F inances .—The company has been spending a considerable Grangeto Franklin Park, 8*87 miles. The Terminal RR. from Chap
sum for the reduction of grades, etc., $2,119,000 from sale of sterling pell to Union Stock Yards, 10*12 miles, Is operated by Chic. Juno, (see
notes and an additional sum from earnings was being so applied in Mich. Central.) Total mileage in April, 1898 (including Chicago & In
1896-98, and $182,000 for ballasting,_etc.,_&om other sources. V. 66, diana State Line and lines leased from Ch. Junction Ry. & Union Stock
p. 235, 283. The stockholders vote Jan. 30,1899, on proposition to Yards Co., 297 miles. Intersects all the roads entering the city. From
Issue $8,000,000 debenture stock, in order to refund in the near Blue Island to McCook, 13*88 miles (double tracked in 1897), the
future the following securities: Oh. St. Paul & K. O. 5s, subject to call tracks o f the old Calumet Terminal are used under a longtime lease.
a t 105, $2,323,150; equipment lease warrant s, $1,673,« Or ; sterling Y. 66, p. 287, 708; V. 65, p. 367, 411.
'
™Cl i l c a 8[0 J i o r t M a d is o n
J a n u a r y , 1899.J
RAILROAD
STOCKS A N D
BONDS,
3ft
•36
INVESTORS’
SUPPLEMENT.
[V o ^ .
l x v iii
J a n u a r y , 1899. J
RAILROAD
STOCKS AN D
BONDS.
37
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g i v i n g Im m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
Bondi—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
When Where Payable, and by Stocks—Last
Par Outstanding Rate
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Per
cent.
Payable
Road. Bonds. Value.
on first page of tables.
Oc.21’98,2i2%
N.Y.Office,30
Broad
St.
$46,732,600
5
in
1898
&
O.
$100
Chicago Afilw aukee & St. 'Paul—Common stock.
Oo. 21,98,3^%
do
do
& O.
100 33,293,900 7 per an.
Preferred stock7 per cent yearly, not cumulative.
Milwaukee & St. Paul loans—
&
N.Y.,Office,30 Broad St. July 1, 1899
147.000
7
1,000
Iowa & Dakota 1stM., conv. into pref. stock..*c 126 1869
London and New York. Jan. 1, 1908
2.723.500
7 g.
&
River Div. (St.P.&C.) 1st M. con. into pf.stk.g.c* 129 1872 $ & A
N.Y.,Office,30 Broad St. Jan. 1, 1903
87.000
7
&
Hastings & Dakota 1st M., conv. mto pref. st’k
Jan. 1, 1903
do
do
1.892.000
&
1,000
Ohio. & Mil. 1st mort. (conv. into pref. stock). .c* '*83 1873
Chicago Milwaukee & St. Paul loans—
do
do
Jan. 1, 1904
&
7
181.000
1,000
Prior lien consols, convertible into p r e f .......... 1,435 1874
do
dd
July 1, 1905
&
9.803.000
7
1,000
Consol, mort., conv. into pref. stock. ............c* L,435 1875
do
do
July 1, 1908
&
3.099.000
7
1,000
I. & D. Ext. 1st M., convert, into pref. stock.c* 335 1878
do
do
July 1, 1909
&
4.000.
000 6
1,000
S. W. j)iv. 1st mortgage Western Union RR..C* 212 1879
do
do
Jan. 1, 1910
&
6
7.432.000
1,000
So. Minnesota Div. 1st mortgage..................... o* 419 1880
do
do
July 1, 1910
&
2.840.000
5
1,000
Mineral Point Division 1st mortgage............. o* 133 1880
do
do
Jan. 1, 1910
&
6.670.000
5&7
1,000
Hast. & Dak. Div.,ext. ,lstm . ($990,000are 5%) c* 395 1880
do
do
July 1, 1919
&
5
2.500.000
1,000
Lacrosse & Dav. Div. 1st mortgage................ c* 185 1879
Jan. 1, 1909
&
1.106.500
7
500
Wisc.Val.RR.Co. IstM., Tomah toMerrill, Wis.c 107 1879
July 1, 1920
&
6
2.227.000
1,000
Wis. Val. Div. 1st M. s. f., not dr’n ............. o* 161 1880
do
do
July 1, 1920
&
6.225.000
6
1,000
Dub. Div. 1st M., s. f., not dr’n ............•..........o* 351 1880
do
do
Jan.
1, 1910
&
3.000. 000
6
1,000
Chic. & Pac. Div. 1st M. (Chic, to Kittredge). .c* 120 1880
do
do
Jan. 1, 1921
&
1,000 25,340,000
5 g.
do Western Div. 1st mort., (see text) gold .o* 1,117 1881
do
do
July
1, 1921
&
1.360.000
1,000
5 g.
68 1881
Chic. & Lake Superior Div. 1st mort., g old .. .o*
do
do
July 1, 1921
&
4.755.000
1,000
5 g.
Wis. & Minn. Div. 1st mortgage, gold................. 230 1881
do
do
Jan.
1, 1924
&
1.250.000
6 g.
1,000
Fargo & Southern 1st mort.,goid, assumed.......... 119 1883
do
do
July 1, 1914
&
4.748.000
1,000
1884
Ch. Mil. & St. P. Terminal mortgage, gold........ o*
I
e
’
do
Oo
Jan. 1, 1916
&
2.856.000
1,000
Dakota & Great Southern 1st mortgage, gold....... Ï59 1886
'o
do
July 1, 1926
&
i g3.083.000
1,000
77 1886
Chicago & Missouri River Div. 1st mortgage...c*
do
ao
Jan. 1, 1916
509.000
&
5
1,000
Inc. M. .convert., s. f. $80,000 yearly (dr. at 105)c* 525 1886
do
do
May 1, 1989
&
4 g.
1,000 a26,674,000
Gen. mort. (for $150,000,000), gold Series A.c*<fcr 5.722 1889
do
do
May 1, 1989
‘-'.500,000
&
1,000
3h> g.
do
do
“ B” (3*28, issuedinl899).e* 5.722 1899
& D, N.Y., Ch.Mil.& St.P.Ry June 1, 1910
2.155.000
6
1,000
126 1880
Milw. & North’n 1st mort., Schwarz.to Gr. Bay..c
June 1, 1913
do
do
5.092.000
& D
6
1,000
362 1884
Consolidated mortgage............. ..................... o’
a
l
n
c
l
u
d
ing
June
30,11898,
$5,
498,000
in treasury and m t list ed, see text.
Chicago <6 Nor . P a cific-See Chic . T erminal T ra NSFER RR.
Organization .—Formed in March, 1898, as a consolidation of the
Chicago Hammond & Western and Chicago & Indiana State Line in
the interest of the Chicago Junction Rys. & Union Stocks Yards Co.
Leases and operates, in addition to the lines owned in fee, all the
switching and terminal transfer roads owned b y the Stock Yards Co.
Bonds.—First mortgage of C. H. & W. is for $2,500,000 (trustee, E*
Francis Hyde, N. Y.); entire capital stocks of Hammond & Blue Island
R R. ($400,000) and H. & B. I. Ry. of Indiana ($80,000) being deposited
as security. V. 64, p. 287. Equipment trusts in 1897, $125,000.
Earnings .—From April 1 to Sept. 30,1898, six months’ oper., gross,
$806,72o; n et,$428,121; taxes, $56,819; chgs., $65,025; sur.,$306,277.
Officers .—John A. Spoor, President; James H. Ashby, Vice-Pros.;
C. O. Chace, Auditor; L. T. Dudley, Treasurer.—V. 67, p. 1262.
C h ic a g o K a la m a z o o & S a g i n a w R y . —Projected from Kala
mazoo, Mich., to Saginaw, Mich., 125 mues, of which 45 miles.
Kalamazoo to Woodbury, in operation. In January, 1897, $450,000
stock v as outstanding. The first mortgage is for $225,000 to Umou
Trust Co. of Detroit, as trustee; bonds all in treasury; bills payable
Jan. 1,1897, $496,175. In 1896 gross, $52,111; net, $17,674.- Oper
ated by Kalamazoo & Hastings Construction Co. President, E. Wood
bury; Treas. and Secy. H. C. Potter, Kalamazoo, Mich.—(V. 61, p. 1063.)
C h ic a g o L a k e S h o r e & E a s t e r n R y . —Operates about 366
miles o f track, affording access to the important railroads reaching
Chicago, Milwaukee and Joliet, and also to steamboat lines, stone
quarries, industrial establishments, etc.
Formed in 1897 by consolidation of Calumet & Blue Island Ry. and
C. L. 8. & E. Railway (of Indiana). Capital stock is $650,000.
B onds .—Divisional bonds, all 6 p. e., due July 1, 1914, were out
standing in Deo., 1 8 9 7 ; Chicago & Kenosha Ry., $1 20,0 00; Chicago
& South Eastern, $ 2 70,0 00; Joliet & Blue Island, $ 2 0 0 ,0 0 0 ; Milw.
Bay View & Chic. RR., $130,000. First mort. of 1897 is for $1,200,000;
bonds redeemable at par on interest days upon 60 days notice.
Equipment mortgage is for $1,310,000; sinking fund is $60,000 per
annum on and after July 1, 1901; bonds redeemable at 105 at any
tim e; mortgage covers road (subject to first mortgage) and also is a
h-«t lien on 39 locomotives, 2,138 box-cars and 787 coal, flat. &c.,
cars. For year ending June 30,1897, gross, $1,515,623 ; net, $813,031: charges, $666,780; balance, surplus, $146,251. In 1895-6 gross,
$2,284,277; net, $1,277,336.—V. 64, p. 422; V, 67, p. 428, 483.
C h ic a g o M i l w a u k e e & St. P a u l R y . —(Bee Hap J —Operates
from Chicago westerly to Omaha, Neb., and Kansas, City. Mo., with
lines, traversing Wisconsin, Minnesota and the Dakotas, including:—
Road.
Miles.
Road.
Miles.
2nd & 3rd tra ck s.................... 259
Lines owned (of which 11
Trackage
(includ.
2d
tra
ck
)...
62
miles owned jointly)...........6 154
History , &c.—The Milwaukee & St. Paul RR. Co. was organized May
5,1863, and on Feb. 11,1874, took its present name. The system has
since been greatly extended by the construction and acquisition of
other lines. The sale of the Milwaukee & Northern to the St. Paul was
ratified in September, 1893. In .Tan., 1899, practically all the stock
and bonds of the Des Moines Nor. & West, 149 miles, had been ac
quired.—V. 67, p. 40.
Capital Stocks.—The preferred stock has a prior right oyer 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
of 7 per cent on preferred and 7 on common, both classes share pro rata.
Common stock authorized, $47,062,560. Preferred stock on Dec. 31,
1873, was $12,274,483; and it has been increased to present figures
almost entirely by exchange of convertible bonds for stock, only about
$5,000,000 having been issued for other purposes (improvements, etc.)
In Jan., 1899, $17,932,500 prior lien bonds outstanding were ex
changeable for preferred.
Drvs. since 1889.1 1890. 1891.1892.1893.1894.1895.1896.1897.1898.
On common. > 0 0
2
4
4
2
4
o
5
On preferred. ) 7
7
7
7
7
7
7
7
7
In 1898, Apr., 2*a p. e., of which ^ p. c. was extra; Oct., 2*2 p. c.
B onds.—Abstracts of some of the older mortgages were pub
lished in the Chronicle , V. 45, pp. 85,114,144, 212, and V. 48, p. 830.
The following bonds are convertible into preferred stock at any time
within ten days after a dividend shall have been declared and become
payable on the preferred: Iowa & Dakota Extension 7s, River
Division 7s, Chicago & Milwaukee 7s of 1903, Hasting & Dakota 7s of
1903 and Ch. Mil. & St. P. consols of 1875. The consols of 1874 also
are convertible into preferred within 15 days after dividend day. The
convertible bonds were fully described in Su ppl e m e n t for Mar. ’ 93, p. 2.
Chicago dt Pacific Western Division 1st 5s were issued at $20,000
per mile for road, with additional amounts for equipment ana
bridges; no further bonds oan be issued. The mortgage covers the
following miles of road: Farley, la., to Kansas City, Mo., 341 miles;
Marion, la., to Counoil Bluffs, la., 262 miles; Astor, la., to Aberdeen,
North Dak., 352 miles; branches 162 miles; total, 1,117 miles.
Terminal five per cent bonds of 1884 cover terminal property
o f several hundred aores in Chicago and Milwaukee.
The “ income” bonds of 1886 are convertible into common stock
within 60 days after any dividend day, and have a sinking fund, $80,000
o f them being drawn yearly at 105 if not obtained for less.
The general mortgage of 1889 (see a b s t r a c t in V. 48, p. 830) is for
$150,000,000, to the united States Trust Co., of New York, as trustee,
and covers the entire railway property and franchises of the company
(therein described) subject to prior liens as below mentioned. The
prior lien bonds cannot be extended, but will be paid off at maturity.
On June 30,1898, the following amounts of general mortgage bond»
bad been issued or were reserved for the purpose indicated, v iz :—
$23,676,000
Listed on New York Stock Exchange...............................
In treasury o f the company (unsold)................................
5,498,000
Total reported by the company as outstanding........
Reserved fo r prior lien s.. ; ................ .....................................
Originally reservedfor prior liens, which have since been 1
converted into pref. stock. Will eventually become >
available for improvements. (See also below )............)
Available for improvements, etc. (see also below )........ .
$29,174,000
100,168,500
13,232,500
7,425,000
Total authorized............................................................. $150,000,000
The $29,174,000 outstanding include $6,000,000 issued to pay for
178 miles of sundry small branches on which the general mortgage is
a first lien, and to retire the $2,500,000 first mortgage bonds of
Chicago Evanston & Lake Superior Ry., a Chicago suburban road,
also $4,035,000 issued to replace prior bonds paid and canceled.
The $7,425,000 “ available for improvements, etc.,” of bonds above
mentioned are applicable for premiums paid in retiring or refunding
convertible and other prior hen bonds bearing a higher rate of in
terest than 4 p. o., for cost of branches, second and side tracks, real
estate, bridges, rolling stock, equipment, etc. On July 1,1898, o f the
prior hen bonds outstanding, $19,552,000 (maturing 1899-1908) were
convertible into preferred stook; if from time to time so converted
they will set free a like amount of general 4s which, with the $13,232,500 reserved against bonds already converted, will become available
for improvements, additions, etc., as soon as the balance ($7,425,000)
of the amount originally reserved for improvements has been so e x
pended. Y. 48, p. 830; V. 50, p. 205. N. Y. Stock Exchange to
Jan., 1899, had listed $23,676,000 generals—see “ General Fin
ances,” Y. 65, p. 462, and V. 66, p. 335.
t „
In Jau., 1899, $2,500,000 of the $5,498,000 general mortgage bonds
in the treasury on June 30, 1898, were sold, the bonds bearing 3*2 per
oent interest and being known as Series B.—V. 68, p. 129.
G e n e r a l F inances , & c.—Dividends on oom m on stook w ere resum ed
in October, 1892. See “ d iv id en d s” above.
The funded debt was increased during the year 1897-98 by the issue
of $4,317,000 of general mortgage bonds and was decreased $5,490,500 by underlying bonds retired and canceled; of the latter $2,763,500 were converted into preferred stock, together with $1,475,500
additional in Oct., 1898. Of the funded debt there was in the treasury
June 30, 1898, $6,587,000 (against $5,433,000 June 30, 1897), Of
which $5,498,000 was general mortgage 4s. In Jan., 1899, improve
ments costing $2,000,000, it was reported, were contemplated, most
of them to be completed during the calendar year and paid for from
earnings. —V. 67, p. 40.
Average freight train load in 1897-8 was 178 tons; rate per ton per
mile, 0-972 cents; in 1896-7 train load, 167 ton s; ton rate 1-008 cents .
E arnings.—5 m onths.) 1898___Gross, $16,826,069; net, $6,915,934
July 1 to Nov. 30. S1 8 9 7 ....Gross, 15,613,198; net, 6,278,571
A nnual R eport .—Fiscal year ends June 30. Annual meeting is
held in September. Report for 1897-98 was given in fun in V. 67, p.
525, 531, 577. See also editorial, p. 506/
1897-98.
1896-97.
1895-96.
Miles operated June 30............
6,154
6,154
6,151
Passenger earnings.................... $5,986,840
$5,717,496
$6,147,679
Freight earnings.. . . . . . . . . . . . . . . 25,468,852
22,104,803
23,887,930
Mail, express, &o., earns.......... 2,733,972
2,664,469
2,646,220
Total earnings......................$34,189,664 $30,486,768 $32,681,829
$4,374,724
$4,334,955
Maintenance of w ay.................. $4,642,275
2,942,295
2,464,839
Maint. cars and engines............ 2,918,524
10,529,853
9,898,952
Uransportation, gen. exp., e tc .. 10,908,170
1,082,084
1,184,231
T a x es............. .............. - .......... 1,134,131
350,000
200,000
Renewal account........................ 1,125,000
397,851
494,562
Miscellaneous..............................
473,468
Total expenses......................$21,201,567 $18,577,539 $19,676,808
Net earnings............................... $12,988,097 $11,909,229 $13,005,021
(60-21)
(60-94)
Perct. of op. exp. to earns.........
(60-21)
64,857
162,822
Other income...............................
131,018
Total net incom e...................$13,119,115 $12,072,051 $13,069,878
7,669,488
7,488,747
Interest on debt, etc................... 7,190,413
Balance for dividends........ $5,928,702
$4,583,304
$5,400,390
DIVIDENDS PAID DURING FISCAL YEAR.
Com m on................................(5^)$2,531,463 (4)$1,841,090 (3)$1,380,817
Preferred.................................. (7) 2,104,245(7) 1,896,363(7) 1,846,315
Total dividends.................. $4,635,708
$3,737,453
$3,227,132
—(V. 67, p. 5 2 5 , 529, 5 3 1 , 5 7 7 ; V. 68, p. 40,129.)
C h ic a g o & N o r th . P a c ific R R . —Chicago Terminal Transfer RR.
38
MVESTOBS’
SUPPLEMENT.
[V ol.
Lxvrn.
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
RAILROADS.
Bonds—Prinol
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due
Amount Rate per
For explanation o f column headings, &o., see notes of
Par
of
When Where Payable, and by Stocks—Last
Outstanding
on first page o f tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Chicago <tt N orth W estern —Common stock........ 4,273
$100 $39,112,400 5 in 1898 J. & J. N.Y..Co.’s Offlce.52 Wall
Preferred stock (7 p. c. yearly, not cumulative).. 4,273
100 22,395,000 7 in 1898 Q.—J.
do
do
Jan.6,’99,1%9»
Bonds issued ana assumed by Ohic. <£N. W.
Ch. & N. W. con. s. f. M. ($12,900,000), not dr’n.c* 788 1865
1,000 12,832,000
7
Q.—F.
do
Feb. 1, 1915Cedar Rapids & Missouri Riv.—1st mort. 3d Div. 150 1866 500 &e.
2,332,000
May i j 101«
7
M. & N.
do
Mort. o f 1884, Ced. R. to Des M. River............ 122 1884
769,000
7
J. & D.
do
do
June 1, 1909
Iow a Mldl’d 1st M., Lyons to Anamosa (assumed)
1,000
71 1870
1,094,000
8
A. & O.
do
do
Oct. 1, 1900
Madison extens.lstM ., g. (s.f. $23,000, not dr’n) 129 1871 500 &o. b 2,977,500
7 g. A. & O.
do
do
Apr. 1, 1911
Menominee e x tls tM ., g. (s.f. $20,000,not dr’n» 114 1871 500 &o. c 2,546,500
do
7 g. J. & D.
Northwest. Union lstM.,g.,Mil.toFond-du-Lac.
62 1872 500 &e. d 3,365,000
do
7 g. M. & S.
Chic. & N. W. gen. consol. M., g., s.f., not dr’n c.*&r 1,637 1872 500&C. 10,492,000
do
7 g. J. & D.
/
New mortgage o f 1897, see next page.
Menominee River 1st M., two series (assumed)...
31 ’76-’80
560,000
7
J. & J.
do
July 1, 1906
Mil. & Mad. 1st M., Mil. to Madison (assumed) .o*
1,000
82 1880
1,600,000
6
M. & S.
do
Sept 1, 1905
Chicago & Tomah 1st mort., guar, (assumed).. . )
(1880
1,528,000
6
M. & N.
do
Nov. 1, 1905
152
Chicago Milwaukee & N. W. construe, do
.. . (
( 1882
e 601,000
6
M. & N.
do
Nov. l ’, 19Ó5
Escanaba & Lake Superior RR. 1st M., (assumed).
43 1881
1,000
455,000
6
J. & J.
do
July 1, 1901
Des Moines & Minn. 1st M.,Des M.to Jewell Jc.,&c.
1,000
57 1882
600,000
7
F. & A.
do
Feb. 1, 1907
Ottumwa C.F.& St. P. 1 stM.($25,000p.m.)t gu..o*
64 1884
1,000
1,600,000
5
M. & S.
do
Moh. l ’, 19Ò9
Northern HI. 1st M. ($20,000p. mile), assumed.. o*
1,000
76 1885
1,500,000
5
M. & S.
Mah, l ' 191Ò
do
Milw. L. Sh. & W., Consol. MT(now 1st) gold...o'* 413 1881
1,000
5,000.000
do
6 g. M. & N.
May 1, 1921
Michigan Div. 1st mort. (for $3,000,000), g..o*
1,000
8 2 , 1884
1,281,000
do
6 g. J. & J.
do
July 1, 1924
Ashland Division 1st mortgage, gold...............c*
40 1885
1,000
1,000.000
6 g. M. & S.
do
Men. 1, 1925
Deben. (see text) seoured by mort of ’ 89, g . . .0' 693 1887
1,000
436,000
5 g. F. & A.
do
Feb. 1, 1907
Ext, & Imp. M. for $5,000,000, g., s.f. not dr’n.e* 693 1889
1,000
4,148,000
5 g. F. & A.
do
do
Feb. 1, 1929
Income bonds (not cumulative).........................r
1,000
1881
500,000
6
M. & N.
do
May 1, 1911
Marsh. E x.lstM .for $600,000 ($15,000 p. m.) .o*
40 1892
1,000
400.000
A. & O.
5
do
O ct 1, 1922
St. Paul Eastern Grand Trunk—See statement for th at com pany.
G.&N.W.s.f.b’ds of ’79($15,000p.m.)red.atl05.c«fcr 1,041 1879 l.OOO&o 18,266,000
5 & 6 A. & O.
do
do
Oct. 1, 1929
Iow a Div. 1st M. for $1,411,000 ($20,000 p.m.)c*
1,000
71 1891
861,000
4^2 A. & O.
do
do
Apr. 1, 1902
Sinking fund debentures, 1933.................e*&r
1883 l.OOO&c 9,800,000
5
M. & N.
do
MÍay 1, 1933
In addition to bonds outstanding as above, t he sin king f und Jun 1,1898, he Ida., $58 ,000; b., $172,500; c., $150,500; d ., $135,000;.
e „ $149,000.
C h ic a g o & N o r t h W e s t e r n R y . —(See Map.)—Operates an im
portant 3ystem o f roads uniting Chicago, 111., with Omaha, Neb., St
Paul Minn., with the great wheat belts of Dakota, Nebraska, etc., and
with the mining regions o f Michigan and the Black Hills, including—
Road owned in fee—
Miles. Controlled by stock,
Miles.
Main lines, etc........................3,085
operated separately—
Entire stock owned—
Fremont Elk Horn & Mo. Yal. 1,301
Wis. Nor. (V. 65, p. 235)........
46 Sioux City & Pacific.............. 107
Milwaukee Lake Shore & W ... 757
Winona & St. Peter................ 449
Total o f all........................... 6,486
Dakota Central....................... 724 2d track .................................. 447
Princeton & Western..............
16
Also has large interest in Chi
cago St. Paul Minneapolis <fe
Total incl. in earns............. 5,077 Omaha, 1,492 miles.
In 1898 the Esoanaba & Lake Superior was building an extension
from Escanaba to Republio, Mich., about 55 miles, of whloh Esoanaba
30 miles northwestward reported to be completed in Jan., 1899.
H istory , &c.—The Chloago & North Western Railway was organized
In 1859, and has sinoe absorbed many other roadB.
In December, 1882, a controlling interest was acquired in the stook of
the Chicago St. Paul Minneapolis & Omaha Co., which see.
In July, 1884, the capital stocks (except a few shares) of the Fre
mont Elkhom <s Mo. Valley and the Sioux City & Pacific were acquired
on the terms stated in the Supplement of June, 1885, and prior issues.
Their securities, except those held bv Ohio. & N. W.. are in table above.
In December, 1891, the Milwaukee Lake Shore & Western RR. was
bought by an exchange of stook. See Y . 57, p. 375; V, 56, p. 792.
Capital Stock .—Of the common stock $2,333,688, and preferred
$3,795 remained in the co’s treasury in June, 1898. Pref. stock has a
prior right to 7 p. c.; then oommon 7 p. c.; then preferred 3 per cent;
then oommon 3 per cent; then both classes share.
D ividends —’83. ’84. ’ 85. ’86to’ 93. ’94. ’95. ’ 96. ’ 97. ’98,
’99
Common..
7
7
6*3 6 yearly 3
4
5
5
5 Jan.,21«
Preferred. 8
8
7*$ 7 yearly to Jan., 1899, inclusive.
B onds.—Refunding Mortgage.—See A b s t r a c t in V. 65, p. 1 1 7 5
The authorized issue is $165,000,000 (United States Trust Co., trustee)
$131,640,000 are reserved to retire underlying bonds, and remainder
fo r additions and improvements, $4,000,000 at once and $1,000,000
a year thereafter. The bonds may be issued bearing such rate of in
terest as shall be deemed advisable. See V. 65, p. 1070. The first issue
o f $20,000,000, bearing 3*2 per cent (reg. interest Q.—F.,couponM.&N.),
has been sold to Kuhn, Loeb & Co., of N. Y.—see “ general finances”
below and V. 65, p. 69, 111, 571. Up to Dec., 1898, $7,133,000 had
been listed. V. 67, p. 125. The $1,641,000 Ohio. <fe M. first 7s were
paid at maturity July 1,1898. V. 66, p. 1139.
The sinking fu n d bonds of 1879 are seoured by deposit in trust
o f $15,000,000 of 1st mortgage bonds at $15,000 per mile on sub
sidiary lines, the most important being described in Supplement of
May, 1894. Of the sinking fund bondB of 1879 $6,069,000 are 6 s ;
the sinking fund is at least 1 per cent of outstanding bonds, which
are subject to call at 105; and through its operation the amount
outstanding has been reduced from $15,000,000 to the present figure.
The sinking fund debentures of 1933 nave a sinking fund of $200,000
per year, if they can be redeemed at 105. These, as also the de
bentures o f 1884 and 1891, will be seoured by any future mortgage
excepting any mortgage “ for the enlargement, improvement or exten
sion o f the company’ s property.” See description of all the debentures
on page 2, Supplement o f April, 1895. The 25-year debenture mort
gage of 1884 was for $6,000,000, but reduced to present figures by
sinking fund purchases.
The extension bonds o f 1886 are seoured by deposit in trust of first
mortgage bonds at a rate not exceeding $20,000 per mile. Included in
the collateral June 1,1896, were $10,675,000 Fremont Elk Horn & Mo
Valley lets and $2,560,000 Wyoming Central 1st» [the Wy. Cent, hav
in g been consolidated with F. E. & M. V.], eto. To Jan., 1899, Exten
sion 4s for $18,632,000 had been listed on N. Y. Stook Exchange, of
which, June 30,1898, $1,143,000 were held alive in sinking funds. See
. F. E. & M. V. bonds below. Union Trust Co. of N. Y., trustee.
The Fremont Elkhom <6 Missouri Talley consols have a first lien on
1,170 miles (Fremont. Neb., to Deadwood, D. T., 557 miles, and
branches to Hastings, Albion, &o., 613 miles), but besides the amount
o f issue given as outstanding in the table $10,675,000 are held as part
collateral for Chloago & Northwestern extension bonds o f 1886. The
Northwestern assumed $3,600,000 of the Fremont Elkhom & Missouri
Valley bonds and guarantees the rest. See guaranty V. 56, p. 650.
The Milwaukee Lake Shore <&Western debentures of 1887 were by
their terms convertible into M. L. S. & W. stook, but North Western
officials state that the bonds are not convertible into N orthw est stock.
The extension and Improvement mortgage sinking fund commences in
1893, and will receive not less than $25,000 yearly; these bonds are
n ot subject to call.
L and G rant .—The report for 1896-97 showed that the total consider
ation for the lands and lots sold in that year amounted to $141,215.
Net cash receipts were $396,890. The statement of amounts seoured
to be paid to the company by outstanding contracts of sale in force at
the end o f the fiscal year showed a total of $924,912. The lands
Rnsold and unoontraoted for May 31,1897. were 693,926 acres.
G eneral F inances.—The first issue of ($20,000,000) refunding bonds
a t 3 *3 per cent interest was sold to provide for $18,015,500 old bonds
maturing up to Deo. 1,1902. If the entire issue of $20,000,000 is re
quired to refund these old bonds the saving in interest oharges will beabout $530,000 per annum—see “ bonds” above and Y. 65, p. 69, 111.
Maple River first 7s for $402,500 fell due July 1,1897.
The $1,628,000 Sioux City <& Pacific 1st 6s due Jan. 1, 1898, have
been retired, but the mortgage is still held alive.
Forthe elevation of tracks In Chloago $1,025,547was spent in 1897-8.
V. 62, p. 456; V. 63, p. 228; V. 67, p. 226. In 1897-98 the average
freight train load was 194 tons, against 1511« tons in 1896-7; rate per
ton mile, 0-89 of a cent. In calendar year 1896 o f 15,772,642 tons of
freight carried, grain furnished 12*73 p. o., coal 12*61 p. o., ores 22*31
p. o. and lumber 6*2 p. o.
E arnings .—J an. 1 to N ov. 30, 1898 (11 m onths), gross, $3 3 ,8 7 8 ,1 0 1 .
against $30,798,962 in 1897.
A nnual R eport .—Fiscal year ends May 31. The annual meeting is
held the first Thursday in June. The report for 1897-98 was given at
length in V. 67, p. 219, 224, 315. See also editorial, p. 203.
CHICAGO & NORTHWESTERN PROPER.
Year ending May 31. 1898.
1897.
1896.
1895.
Average mües oper.. 5,071
5,031
5,031
5,031
Passenger earnings.. $7,256,299 $6,963,578 $7,408,827 $7,044,691
Freight...................... 27,035,105 22,236,612 24,354,622 a 9,484,415
Mail, exp ress,& o.... 1,759,156
1,777,053
1,725,312
1,579,268
Total earnings...$36,050,561 $30,977,243 $33,488,761 $28,108,374
Oper. expenses........ $22,643,879 $18,877,089 $20,373,402 $17,503,917
Taxes.......................... 1,102,606
1,061,732
1,075,569
1,007,811
Total expenses..$23,746,485 $19,938,821 $21,448,971 $18,511,728
Net earnings.............$12,304,076 $11,038,422 $12,039,790 $9,596,646
P. o. exp. to earnings (65*87)
(64*37)
(64*50)
(65*86)
Investments, etc....... 1,064,615
964,310
671,638
652,274
Totalreceipts... $13,368,691 $12,002,732 $12,711,428 $10,248,920
Interest on debt.___ $7,096,285 $7,115,701 $7,122,356 $7,071,135
Dividends................
3,519,823
3,518,650 3,517,057 3,125,546
Sinking fund, e to...
517,260
196,413
220,990
325,830
Totaldisbursm’t s .$ ll,133,368 $10,830,764 $10,860,403 $10,522,511
Balance.............. .sur.$2,235,323sr.$l,171,968sr.$l,851,025df.$273,591
FREMONT ELKHORN & MISSOURI VALLEY.
Yr.end. May31.
1898.
1897.
1896.
1895.
Grosseamings......... $3,881,340 $3,051,982 $2,950,439 $2,666,642
Net earnings............. 1,237,948
793,839
893,670
692,834
Total charges........... 1,020,908
1,020,941
1,022,469 1,025,020
Balance.................. sur.$217,040def.$227,102def.$128,799def.$332,195
— (V. 67. p. 125, 2 1 9 , 2 2 4 , 3 1 5 , 1262.)
C h ic . P a d . Sc M e m . R R . - I n 1897 merged in Chic. & East. HI.
C h ic a g o P e o r ia Sc S t. L o u is R R . o f I l l i n o i s . — Owns from
Pekin, 11L, to Springfield, 111., 77 miles; and Havana to Jacksonville,
111., 42 miles, and Litchfield to East St. Louis, 48 miles; trackage, Pekin
to Peoria, 10 miles; Springfield to Granite City, 102 miles; total 270
miles. Owns a one-quarter interest in the Peoria & Pekin Union.
Organization .—A reorganization in February, 1896, of the C. P. A
St. L. Ry. sold in foreclosure, per plan V. 61, p. 365. (V. 62, p. 232,319.)
D efault .—The first mortgage coupons due Jan. 1,1898, were not
paid, owing to floating debt (£800,000). and bondholders were asked,
to extend time of payment for six months, but earnings have since
been applied to oar trust payments and default continued.—Y. 66, p. 81,
1044.
In July, 1898, Samuel P. Wheeler o f Springfield, HI., and Charles E .
Kimball of New York were appointed receivers as a preliminary t o
reorganization. St. Louis Chicago & St. Paul is controlled in same in
terests, and it is expected the two properties w ill be consolidated on
reorganization. In Jan., 1899, no plan had yet been issued.
Floating Debt June 30,1898.—Bills payable, $922,260; pay-rolls and
vouchers, $187,789. V. 66, p. 78.
Stocks and B onds—Common stook authorized $2,500,000; preferred
5 p. o., non-cumulative, $2,500,000.
The new first mortgage is for $5,275,000 to the Mercantile Trust Oo.
of N. Y. as trustee. Of the $4,599,000 firsts given as outstanding in
table above, $2,100,000 held as collateral for loan of $800,000 w ere
purchased at foreclosure sale in J uly, 1898, by Thomas Carmichael.
See V. 67, p. 73,158 (auction sales).
Oar Trusts.—On Jan. 1,1899, over-due car trusts amounted to $140,471, and to mature $184,041, payable monthly to 1902.—V. 66, p. 78.
Latest E arnings .—For 12 months ending Deo. 31,1898, gross, $856,965; $836,159 in 1897.
E arnings.—For year ending June 30,1897, report in V. 66, p. 78.
Advanoe statement for 1897-98 was in V. 67, p. 367.
Year end.
Gross.
Net.
Tax <£rent. Interest.
Balance.
1897-98........ $847,045 $202,311 $75,433
1896-97........ 834,170
229,614 67,474
$209,819
148,395
def.$82,941
sur.13,745
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STOCKS AND
41
BONDS,
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d i n tb e s e T a b le s .
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
When Where Payable, and by Stocks—Last
Rate
per
Par
of
©'or explanation o f column headings, Ac., see notes of
Outstanding Cent. Payable
Whom.
Dividend.
Roäd. Bonds Value.
on first page of tables.
52
Wall
St.
M.
&
N.
N.
Y.
Office
Nov.
1, 1909
5
$f5,369,000
1884 l,000&c
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do
do
A 15A O
Apr. 15,1921
5
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do
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Aug.
15,1926
4
hl7489,000
1886 l.OOOAc
Extension 4s. $20,000,000 ($20,000 p. m.)..c&r
do
do
Nov. 1, 1987
3ia g.
IT
1897 l.OOOAc 7,198,000
Gen’l gold bond, mort., $165,000.000.Us..o*&r —
Bonds o f Proprietary Lines.
do
do
M. & N.
Nov. 1, 1907
1.592,000
7
Winona & St. Peter 2u mortgage (now 1st) guar.. 139 1870-1 1,000
do
do
Dec. 1, 1916
7 g. J. & D.
1st mort, extens., gold,land grant,s.f.,guar...c* 184 1871 10Ó &c. k 4,038,500
do
do
A.
&
O.
Oct. 1, 1908
150,000
7
24
1878
Minnesota Valley Ry. 1st m o r ta g e ............
do
do
M. & 8.
7
Sept. 1, 1908
100,000
15 1878
Plainview RR. 1st M. (Eyota to Plainv’w, Minn.)
do
do
M.
A
8.
Sept.
1, 1908
200.000
7
24
1878
Roch. & No. Minn. lstM.,gu. (assumedby.W&8t.P.)
do
M. A 8.
do >
6
Sept. 1, 1907
a 1,007,000
71 1882
Dak. Cent. 1st M., gu. (Watert’n to Redfleld,S.D.)
M.
A
N.
do
do
6
Nov.
1, 1907
2,000,000
125
1882
Dak.Cent.lst M. on So’eastDiv. (to Hawarden) gu.
do
do
A. & O.
6
Oct. 1, 1933
7,725,000
Frem. Elk. AM. V. consol M. $20,000p. m. see text. 1,170 1883 $1,000
do
do
A.
&
O.
O
ct.l,’98,31
a%
169,000
7
100
6
Sioux City A Pac. pref. stock (1st mort, on 6 in s
do
do
Jan. 1, 18Ö8
101 1868 500 &c. Held by Ch. AN . W. J. & J.
is t M. Sioux City to Fremont (assumed.)........
at
maturity.
J.
A
J.
U.8.
Treas.,
6
Mar.
’98
A’
99
1,628,152
500
Ac.
2d M.Gov't lien (accr.int. Jan. 1,'98 $2,563,650.) 101 1868
4,599,000
4 g. J. A J. See text.—V. 66,p.1044. July 1, 1925
1,000
Chicago Peoria A St. L.—1st M., $5,275,000, g. c*&r. 177 1896
Jan.
1
July
1,
1945
2,250,000
1,000
4 g.
2d mtge. non-cum. incomes, gold C...............o*Ar. 177 1896
100 50,000,000 See text. Q.—F. New York and Cmcaffo. Feb. 1,’9 9 ,1*4
Chicago Roch Island A Pac.—Stock (for $50,000,000)
July 1, 1917
J. A J. N. Y.,13 William St.
6
1st mort., Chic., 111., to CouncilBluffs&branches.c* 736 1877 l.OOOAc 12,100,000
do
do
M. A N.
Nov. 1, 1899
7
5,000,000
Chic. A Southw. 1st M. (g’d in cur. by C.R.I. AP.). 268 1869 100 Ao.
do
do
Jan. 1, 1988
4 g. J. A J.
General mortgage, $100,000,600, gold.Ce...c*Ar 3,182 1898 l.OOO&c 47,971,000
N. Y., Office 52 Wall St. Feb. 20,’99,31a
100 18,551,367 3iaFeb99
Chicago St. Paul Minneapolis A Omaha—Com. stock.
do
do
100 11,256,800 7 in ’98. F. A A.
Feb.20,’ 99,31a
Preferred stock, non-oumulative (see text)..........
do
do
J. A J.
Jan. 1, 1908
334,800
7
21 1878 500 &o.
Bt. Paul Stillwater A Taylors’ Falls 1st mort. ...o
do
do
J. A J.
July 1, 1908
125,000
8
1,000
12 1878
Hud. A River Falls 1 st M., Hudson to River Falls. c
M.
A
N.
do
do
May 1, 1918
2,650,000
500
Ac.
6
g.
177
1878
Oh. St. P.AMinn. 1st M.,g.,Elroy to L. St.C.ass’d.c*
do
do
Apr. 1, 1919
6,070,000
1,000
6 g. A. A O.
St. P. ASi’xC. 1st. M.g. ($7,000,000)$10,000p.m.c 607 1879
do
do
J.
A
J.
Jan.
1, 1930
800,000
6
1,000
80
1880
No.Wis.lst M. Lake St.C. to n’r Spooner ass’med.c’
do
do
M. A N.
5
Nov. 1, 1915
1,000
400,000
37 1890
Sault Ste. Marie A Southwest’n 1st M „ assumed.c
do
do
J.
A
D.
6
June
1, 1930
1,000
b
14,353,327
1880
Ch.St.P.M.AO.con.M.,$30,000,000($15,000p.m)0’r
In addition to the bonds outstanding as above, the s inking fund Ju ne 1.1898, h eld, a, $ 58,000; b, $59,132 (these in tre asury.
n
iuterest
M.
A
N.;
regK
stored
Q.—F
.500.
1,143,0
00;
k
.,
$202
if
Coupo
f „ $521,000 (and $10,000 on hand); g . , $ l 81,00 0;.h.,$
To the balance for 1897-8 add $15,122 div. on P. & Pekin U.
stock, Ac., and deduct $5,023 for betterments. Road controlled by
Thomas Carmi ohael, N. Y.; office 27 Pine St.—(V. 67, p. 7 3 ,1 7 6 ,3 6 7 .)
C h ic a g o R o ck . Isla n d . & P a c ific R y .—(See Map) —R oad .—
Operates from Chioago, 111., via Omaha, Neb., to Denver and Colorado
Springs, Col., and via Kansas City, Mo., to Terral, I. T., with branches.
The system, as will be seen on adjoining map, includes:
Leased, etc.—(UWhich see.) Miles
Lines owned—
Miles.
Chio.,111., to Council Bluffs,la. 500 Peoria & Bureau Valley___IT 47
Keokuk
& Des Moines........ IT 162
Davenp’t,Ia .,to Atoh’n, Kan. 341
Elwood to Liberal, Kan........ 440 Des Moines & Fort Dodge..IT 144
Herington,Kan.,to Terral,I.T. 349 Trackage to Kansas City,
No. Topeka, Kan., Denver,Horton, Kan., to Roswell,Col. 569
Col., Pueblo, Col., etc........ 338
Branches.................................. 678
.2,877
Tot. lines oper. Apr. 1,1898.3,568
Total owned
Chicago Rock Island & Texas, Terral to Fort Worth, Tex., 93 m iles;
bonds are all deposited as collateral to the gen. mort. bonds, but the
road is operated separately. V. 61, p. 793.
H istory .—The present Chioago Rock Island & Pacific was a oonolidation June 2,1880, with $50,000,000 stock authorized.
St o c k .—Stock dividend of 10 p. c. raises in 1898 outstanding issue
to $50,0000,000, all listed on N. Y. Stock Exchange. V. 67, p. 125.
Ca s h D iv id ’ S) '89 '90 '91 '92 '93 '94 '95 '96 '97 '98
’99
since’ 88, P.ct. 5 4
4
3
4
4
3*3 2
2 2*3 4 ^ text.
Also in 1898 paid 10 p. c. extra in stock. (V. 66, p. 1089; V. 67, p.
125. In 1899, Feb., l ^ p. c ; 1881 to ’87, 7 p. c. yearly; '88, 6 1« p. o.
B onds .—The refunding mortgage is for $100,000,000 (Central Trust
Co., trustee), of w hich$65,847,600 were reserved to retire $62,712,000
existing bonds (including $45,212,000 paid in 1898); $2.000,000
were immediately available for additions or improvements ; $500,000
have been issued to facilitate the issue of gen. mort. bonds; $5,500,000 will be available after 1902 at $18,000 per mile, to retire bonds on
lines purchased, and remainder are issuable at not over $1,000,000
per annum for permanent improvements and additions, including
equipment. See Mortgage A b s t r a c t in V. 66, p. 522. The prior
bonds will be paid oft by Nov. 1,1899, excepting $12,100,000 of 6s.
G e n e r a l F in an ces .—A v . freight train load in 1897-8,169 tons; rate
per ton mile, 0*97c.; in 1896-7, 158 tons; rate per ton mile 0*96c.
Refunding.—The refunding of the bonded debt during 1898-90 will
save $496,621 y ea rly—V. 65, p. 571; V. 67, p. 55. In Jan., 1899,
$47,971,000 of the new general 4s had been listed.
In Jan., 1899, sold 123 miles of the Wisconsin Minnesota & Pacific,
operated by the Minn. & St. Louis, to that company, for about $1,600,000. This amount is applicable to improvements.
E arn in gs .—From April 1 to N ov. 30 (8 months).
8 mos.
Gross.
Net.
Int., etc.
Balance.
1898........ ...... $14,882,502 $5,437,228 $2,582,814 sur.$2,854,4l4
5,015,714
2,740,007 sur.2,275,70y
1897................. 13,474,193
A nnual R eport .—The fiscal year ends March 31. Annual meeting
is held in Chioago on the first Wednesday in June. Report for 1897-9S
at length was in V. 66, p. 1086, 1091—see also editorial, p. 1067
Year ending March 31—
1898.
1897.
1896.
$4,072,127
$4,445,953
Passenger earnings................ $4,316,817
11,229,175
Freight........ ............................. 13,835,995
11,159,100
1,845,351
Mail, express, rentals, e tc.. . .
1,395,771
1,754,600
Gross earnings................... $19,548,583 $17,146,653
$5,533,825
Net earnings............................ $6,952,616
(67*73)
P. o. of op.exp. A tax.to earns.
(64*43)
From land department..........
*9,000)
12,243
Income from loans, etc............
470,785 )
Total income....................... $7,432,401
Rent leased roads.....................
$671,528
Interest on debt........................
3,320,450
Missouri River bridges...........
117,997
Dividends...................................(3)1,384,674
$17,359,653
$5,493,059
(68*36)
38,439
$5,546,068 $5,531,498
$681,730
$665,615
3,321,525
3,322,525
99,217
119,650
(2) 923,116 (2) 923,116
Balance......................... .
$1,937,178
$520,480 sur.$500,592
—(V. 66, p. 900,953, 10 s6, 1089, 1 0 9 1 , 1237; V. 67, p. 73,125,319.)
C h ic a g o S t. P a u l & K a n . C i t y .— See Chicago Great Western .
C h ic a g o S t. P a u l M in n e a p o lis & O m a b a R y . — (Nee Map Chi
cago A North Western.)—R oad .—Mainline—Elroy, Wis., to Omaha, Neb.,
593 miles ; other lines, 899 miles ; total, 1,492 miles, of which 1,428
miles are owned and 64 miles leased.
H istory .—This was a consolidation July, 1880, of the Chioago St.
Paul A Minneapolis, the North Wisconsin and the St. Paul & Sioux City.
In November, 1882, a controlling interest in the stock was purchased
for the Chioago & Northwestern Railway by the acquisition of 93,200
shares of common and 53,800 shares of preferred.
Stock .—Authorized common, $21,403,293; preferred, $12,646,833.
Held by the company Deo. 31,1897, common stock and scrip, $2,844,-
106; preferred stock and scrip, $1,386,921. Preferred stock has a prior
right to non-cumulative dividend of 7 per oent; but common is never
to receive more than is paid on preferred.
D iv id e n d s since ’ 8 8 .) ’89. ’ 90. ’ 91. ’ 92. ’ 93 to ’96. ’97.
’ 98.
’99
Common, P. c t .__ > ...........................
None.
2
2 Feb.3ia
Preferred, P. c t___) 3
4
4 6ia v—7 per ann. (3*3 FAA.)—B onds.—There are $75,000 Minneapolis Eastern 1st m. guar. 7s
due Jan. 1,1909; $1,500,000 Superior Short Line Ry. bonds are owned.
Chicago St. Paul & Minneapolis 1st 6s, due 1918, and North Wisconsin
1st 6s, due 1930, are exchangeable at option of holder at any time,
dollar for dollar, for consol. 6s of 1880, due 1930.
L ands.—The land sales in 1897 were 15,897 acres, for $39,876, in
eluding lots; lands undisposed of, 400,964 acres.
L atest E arnings.—From Jan. 1 to Dec.31 (12 months) gross, $8,643,284 in 1898; $7,925,445 in 1897.
A nnual R eport .—Report for 1897 was in V. 66, p. 516. Average
train load in 1897 was 186*7 tons; in 1896 was 170*6 tons.
Year ending Dec. 31—
1897.
1896.
1895.
Gross earnings............................$8,652,793
$8,156,192 $7,508,764
Operating expenses and taxes. 5,737,447
5,137.034
4,836,652
Net earnings......................... $2,915,346
$3,019,158
$2,672,112
Net rentals paid.........................
114,626
113,946
113,048
Net int. on debt (less other ino.) 1,411,470
1,405,353
1,422,830
(7)787,976
(7)787,976
Div. on pref. stock.................... (7)787,986
Div. on com. stock.......... ...........(2)370,984
(2)370,982
.......
Surplus of RR. Co..................... $230,281
$340,901
$348,258
Net from land sales....................
$55,191
$1,662
$36,389
—(V. 64, p. 231, 233, 5 1 4 ; V. 66, p. 4 2 4 , 516,ygo; V. 68, p. 129.)
C h ic a g o T e r m i n a l T r a n s f e r R R . — (See Map.)— Property .—
Consists of passenger and freight terminals in city of Chicago, lines
of railway leading thereto, and a belt line around the city. Company
owns 760 acres of land in and adjacent to the city, of which 50 acres
are in the centre of the business district; also includes 7,500 feet of
dock property on Chioago River. Nearly all land, including that upon
which tracks have been built, is owned in fee.
L eased L ines—
Miles
R oad Ow ned —
Miles.
Harrison to Madis’nSt., Ohio.lO*86 Chioago Juno. Ry. (McCook
46th St. to South Oak Park.. 5*36
to Franklin Park)................ 10*54
40th St. Jet. to Cem., etc....... 6*75 Chic. Juno. Ry. (L. 8. & M.
Western Ave. to Blue lBland.l5*19
S. R y. to O. L. 8. & E. R y .. *14
T rackage —
Harvey Juno, to Harvey....... 3*88
E. Chic. Harb. to South Chic.
Calumet Belt Line »Clark
Jet. & Whiting to McCook).28*44
(B. & O.)................................ 6*60
do.
under construction
East Chicago to Whiting.. 3*89
Tot. length of lines owned
Total..................................... 74*37
and leased July 1,1898. 91*65
2d track owned and leased, 53*20; sidings and spurs owned and
leased, 99*72. Total length o f tracks owned and leased.......... 244*57
H istory .—A reorganization in June, 1897, of Chioago & Northern
Pacific and Chicago & Calumet Terminal, p la n V. 6 4 . p. » 8 8 , 8 9 8 .
Fixed charges were reduced from $1,794,950 to $561,840.
T enants.—Balt. & Ohio, Chic. A Great Western, Wisconsin Central,
Chicago Hammond A Western, Suburban Ry. Co. of Chioago.
In 1898 99 the St. Louis Peoria & Northern Ry. Co. contracted to
become a tenant under a 99 year lease, this lease being then assumed
by the St. Louis & Northern Short Line Co., the proposed new line be
tween Chicago and St. Louis, etc. The rental under this lease is to be
$150,000 yearly from July 1,1900, and prior to that date is commuted
by payment of $80<'.000 to be deposited with the Guaranty Trust Co.
for investment paid over to the Transfer Co. in equal annual in
stalments. beginning J»n. 1, 1901. In Jan., 1899, $264 000 of the
$800,000 had been deposited as agreed. See Y. 67, p. 954; V. 68, p. 41
Securities .—Stock—The $17,000,000 pref. is entitled to prefereno
to the $13,000,000 common in liquidation, and to non-cum. dividends
at 4 p. c. per annum before any dividends are paid on com m on; after
4 p. c. has been paid on common stock the preferred stock shares pro
rata with common in any additional distribution of eqrnings for that
year. Bonds—Of the $16,500,000 1st 4s, $1,305,000 are reserved to re
tire the $1,044,000 assumed bonds; $1,905,000 for new property as
provided in the mortgage and $290,000 are held in the treasury; and in
1898 $259,000 held in treasury since reorganization were sold to pro
vide for construction already made and contracted for, leaving $13,000,000 outstanding.
L atest E arnings —5 mos. > 1898...... Gross, $506,184; net, $310,135
July 1 to Nov. 30.
)18->7.......Gross, 457,713; net, 309,779
R eport .—Report for year ending June 30,1898, given at length in
V. 67, p 903, shows gross, $1.119,261; net, after deducting taxes,
$663,756; interest, $562,156; bal., sur., $101,599. In 1896-7, gross,
$1,068,853; net. $678,432.
Officers .—Pres., Edward D. Adams, N. Y.; Secretary, George P*
Butler. Mills Building, N. Y .—V. 66, p. 8 5 ,11 8 8 ; V. 67, p. 8 3 9 , 843,
8 9 7 ,9 0 3 ,9 5 4 .
C h ic a g o & T e x a s R R . — See Supplement of January, 1898.
42
INVESTORS’
SUPPLEMENT.
[V ol. LXVHI«
Sàio rado Sprs.
O
j Wallacç
^
riurjce
f t S-elkirk
jPueblo
O
|
M eade/
felMoro
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Lodge
I
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r o Kenton
\Clafrton
Englewood
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\
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Parnell
RAILROAD
STOCKS
AND
BONDS.
q
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M AP OF TH E
CHOCTAW, OKLAHOMA
p
Pa]
j,
VLamont
*
__ <i^ii^Winona Ä
V
m . Greenwood
U isja ft
J a n u a r y , 1899.J
AND
GULF RAILROAD
■
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—7
¿ y l i e / r / i l l e S u lp h u r /
AND THE
CHOCTAW & MEMPHIS R. R.
^
7 \
/
ALLAS 4 rrell %
/J e f f e r s o n |
**■---------- -JhMSneola'
:
1
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Rolling
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Alle*
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,
4 4
INVESTORS’
SUPPLEMENT.
Iv o l . LXVIH.
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g i v i n g Im m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
Bonds—Print"
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When DueAmount Rate per When
Par
For explanation o f column headings, &c.. see notes of
of
Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
Chicago A Southeastern—Mid. of lnd. 1st M., gold .. c
General mortgage, gold............................................
Chic. Term’l Tr.iRR.—Ch.&GtW .,lst M.,g.,ass’d.c*
City of Chicago purchase money mort., assumed
Chio. Term. Transf.1 st M. ,g. ,$16,500.000 U s . c*<fcr
Chicago A Texas—1st mort., $2,500,000, gold. ..c&r
Chicago A Western Indiana—Stock (see tex t)........
1st mort., gold, sink, fund, subject call at 105.c*
General mort., gold, sinking fund, see tex t.......e*
Chicago A West Michigan—Stock (in trust $63,600).
Grand Rapids Newaygo & Lake Sh. 1st M. 2d Div.
Chio. & WestMich. general mort.($12,000p.m.) .o*
Ch.& No.Mich.lstM.,gu.,p.&i.end.$18,000p. m.e*
Mich. Equip. Co. IstM ., gu.p.&i., s.f. red. at lOO.r.
Coupon scrip Jan.1,1898—see descrip. V.59,p.737
Chic. ^Wisconsin A Minn —1st mortgage, g old ... .e*
Income bonds, 6 per cent, cumulative..................
Choctaw A Memphis—Pref. stock 6%, $1,750,000..
1st mortgage, $3,400,000, interest giiar., g old ...
Choctaw Oklah. A Gulf RR.—Prei. stk. 5 p. o. cum.
Prior lien, gold, text............................................. c*
General mortgage, $5,500,000, gold.................. c*
Cin. Georget’n A Fortsni.—1st mort., $500,000...c
Cincinnati Hamilton A Dayton—Common stock....
Pref. stock, A & B, 4 p.c. cum., guar, (call at par)
do
“ Eagle” 4 p.c. cum., guar, (call at par)
New preferred 5 per cent non-cum., $8,000,000..
Consolidated mort. (now 1st) $ & St, sink, fund.o*
do
do
$394,000 are 5 p. c.e*
Second mortgage, gold.......................................... o*
General mortgage, $7,800,000, gold.. . . . . . M e . o*
Cin. Day. & Iron., 1st M., gold, guar, (assumed.c*
94
94
10Ï
60
....
48
48
....
10
488
93
....
1887
1891
1886
___
1897
1893
$1,000
1879
82-92
1,000
1,000
100
500 &c.
1,000
1,000
1,000
1875
1881
1891
1892
1894-7
122 1885
. . . . 1885
....
....
220
220
42
1899
1894
1894
1881
....
....
....
60 1875
60 1875
69 1887
60/ 1892
164 1891
__
1,000
1,000
1,000
1,000
50
50
1,000
1,000
1,000
100
100
100
........
1,000
1,000
1,000
1,000
1,000
C h ic a g o Jk W e s t e r n I n d i a n a R R . — Owns a valuable terminal
system of roads affording entrance into Chicago to the roads named
below. Its lines extend from Dearborn Station, Polk Street, Chicago,
to Dolton, 17 miles, also to Indiana State Line, 10 miles, to
Cragin, 16 miles, and to South Chioago, 5 m iles; total, 48 miles; total
track, including 2d, 3d, 4th tracks and sidings, 214 m iles; also owns
860aores o f real estate, passenger and freight yards, warehouses,
elevators, etc. The Belt Ry. of Chioago leases and operates 72 miles of
the 214 miles owned by the Ch. & W. I., its securities being all held by
the companies leasing the Chicago & W. I.; see V. 60, p. 1056.
L eases.—This company’s road and terminals are leased under per'
petual contracts to the Wabash, the Chio. & Grand Trunk, the Chicago &
Eastern Illinois, the Chioago & Erie and the Chioago Indianapolis &
Louisville, each of which five companies owns $1,000,000 stock. They
are also leased to the Atchison, the Elgin Joliet & Eastern and the Belt
Railway. The annual rentals must always exceed by at least 20 per
cent the interest on the bonds outstanding.
D ividends .— ) 1892-94. 1895.
1896.
1897.
1898
1899Per cent. 5 6 yearly. 7 1o
6
6
6
Below*
In 1899, Jan., 1*2 p. o.
B onds .—Sinkin gfun dpaym ents (am ountingin year 1897 to $172,000)
an nu ally retire a p ortion o f the first m ortgage bon ds at 105 and inter
est, and after they are all draw n the general m ortgage bonds becom e
su bject to same sinking fund and w ill be draw n at sam e prioe in such
annual am ounts as w ill retire the debt at or before m aturity. In A pril,
1898, $14,368,000 general 6s had been issued, o f w h ich $2,500,000
w ere reserved to retire firsts and $1,999,333 canceled.
A nnual R eport —Fiscal year ends Deo. 31. Report for 1897 was in
V. 66, p. 1234, showing gross income, $947,503; interest, etc., $657,826; dividends, $300,000; bal., deficit, $10,323. (V. 67, p. 370.)
C h ic a g o A W e st M ic h ig a n R y . — Owns from Lacrosse, End., to
Traverse City, 301 miles; Allegan to Pentwater, 98 miles; Big Rapids
Junction to Big Rapids, 52 miles; other branches, 37 miles; proprietary
line, Chicago & North Michigan (opened in July,1892), Traverse City to
Elk Rapids and Bay View, 93 m.; total of all, 581 miles; sidings, 161
m.) Oar ferry between Milwaukee and Muskegon was opened in Dec..
1897. (V. 66, p. 38.) In 1897 agreed to lease Grand Rapids Kalkaska
A Southeastern RR., 3v. miles, if built.—V. 66, p. 854,857.
O r g a n iz a t io n , &c.—Organized Jan. 1 ,1 8 7 9 . T otal tons carried in
1 8 96 w ere 1,174,727, o f w h ich lum ber 42 p. c., coal 8 ^ p. c., grain 4 p. c.
$375,000
<»)
394,000
650,000
13,000,000
1,225,000
5,000,000
878,000
9,868,666
7,512,800
19,000
5,758,000
1,667,000
245,000
664,465
2,860,000
1,040,000
None.
C)
3,999,700
1,000,000
3,500,000
252,000
8,000,000
1,000,000
742,100
6,257,900
996,000
1,734,000
2,000,000
3,000,000
3,500,000
In default.
g* J. & J.
gg. J. & D. N. Y., Mercantile Trust.
M. & N. To City of Chicago.
g- J. A J. N. Y., Mercantile Trust.
In default.
g- A. & O.
Q .-J .
g. M. & N. N. Y., J.P.Morgan & Co.
do
do
g. Q .-M .
See text.
7
J. & D. N. Y., Un. Tr. & Boston.
5
J. & D.
See text.
M. & N.
5
See text.
6
J. & D.
Boston.
5
Semi-an
M. & S. Boston, Merch. N at. Bk.
6
5
M. & S.
do
do
2, 3, 4
5 g. J. & J.
Philadelphia.
5 in 1898 A.&O
Phila., Of., Girard Bldg.
do
do
6 g. A. & O.
do
do
5 g. J. & J.
6
4. & 0. N. Y., Central Trust Co.
5
5
5
5
4
5
6
6
6
Jan. 1, 1917
Jan. 1, 1922
June 1, 1936
May 1, 1938
July 1, 1947
Apr. 1, 1933
Jañ. l , ’9 9 ,li« i
Nov. 1, 1919
Dec. 1, 1932
Feb. 15,1893
June 1, 1905
Dec. 1, 1921
May 1, 1931
Juñe 1, 1902
1904-7
Mch. 1, 1916
Moh. 1, 1916
July 1, 1949
Oot.31,’98, 2*fl
Oct. 1, 1919
Oct. 1, 1919
Apr. 1, 1901
4 in 1898 Q .-J .
do
Jan. 3, ’ 99,1%
4 in 1898 Q.—M.
do
Deo., ’98, 1%
5 in 1898 Q.—F.
do
Feb. 8’99,1J4%
7
A. & O. N.Y.,Kessler<fcCo54Wall Oct. 1, 1905
5 & 6 A. & O.
do
do
Oct. 1, 1905
4 1ag. J. & J.
do
do
Jan. 1, 1937
5 g- J. & D. N.Y., Blair&Co.,33WaU June 1, 1942
5 g- M. & N. N. Y. .Kessler&Oö54 Wall May 1, 1941
Securities .—Stock, $1,750,000'each of common and 6 p. o. pre
ferred. First mortgage bonds, $3,400,000, of which $1.200,000 to ac
quire the Little Rock & Memphis, and balance, $2,200,000, sold in
September, 1898, to extend the road from Little Rock westerly 140
miles to State line, to connect with Choctaw Oklahoma & Gulf, as ex
tended, 13 miles. As to guaranty, etc., see above. (V. 67, p. 529, 9017)
C h o c t a w O k la h o m a & G u l f K R . — (See M ap.)—Wisuer, Indian
Territory via South MoAlester and Oklahoma City, to Fort Reno, 216
miles; coal mine branches, 4 m.; total, 220 m. The extension, South
MoAlester to Oklahoma City, 120 miles, completed in September, 1895.
Extension, 6 miles, Wister to Howe, on K. C. Pitts. & G., operated
from Sept., 1898, and one from Fort Reno, the Western terminus, to
Weatherford, 46 miles, late in 1898. (V. 68, p. 126.)
H istory .—A reorganization of the Choctaw Coal & Railway Co., sold
in foreclosure Sept. 9,1894. Holds valuable coal leases.
The Choctaw & Memphis will be extended in 1898-99 to form, with
this company’s road, a system 500 miles in length, reaching from cen
tral Oklahoma to Memphis, Tenn. rhe C. & M. is leased for 95 years
and interest on its securities will be practically guaranteed, but no ob
ligation will arise until completion and equipment of the road. See
Choctaw & Memphis above and V. 67, p. 529.
Stock .—Common stock, $3,750,000; par, $50; all held by voting trust
till July 1 ,1 8 9 9 ; preferred stock, 5 per cent (cumulative after Nov. 1,
1897). $4,000,000; outstanding. $3,999,700; par, $50. The preferred
shares were issued under the readjustment plan of 1896, see V. 62, p.
588,778, 821, 8 6 8 -(V . 64, p. 134.)
D ividend .—On pref., Apr., 1898 (1st div.),2ie p. c.; Oct.,1898,2^ p. o
B onds.—The prior lien 6s are redeemable at 105 after five years
See adv. Chronicle , Sept. 22, 1894. General 5s for $1,000,000 are
reserved to retire prior lien bonds and in July, 1896, $1,500,000 (in
cluding $1,200,000 surrendered under plan of March, 1896) were held
for future additions, etc.
L atest E arns.—11 mos., § 1 8 9 8 ...Gross, $1,532,921; net, $557,758
Jan. 1 to Nov. 30.
*1 8 9 7... Gross, 1,136,593; net, 377,843
R eport .—Year ends Oct. 31. Report for 1896-7 was in V. 68, p. 126.
Year8 end.
Gross
Gross o f
Net
Interest
Balance,
Oct. 31— o f railroad, mining.
o f both, and taxes.
for year.
$567,398 $597,791 $242,208
$355,583
1898........ $1,067,534
719,616
511,728
393,304 225,974 sur.167,330
1897...........
1896 ............ 543,040
536,017
228,607 229,807
def. 1,200
Coal output in 1896-7 was 386,368 tons against 364,110 tons in
1895-6. President, Francis I. Gowen, Philadelphia.—(V. 68, p. 1 2 6.)
C in c in n a t i G e o r g e to w n & P o r t s m o u t h .— Cincinnati, south
easterly to Georgetown, 42 miles. Extension to West Union, O., 23
miles, projected, and grading expected to be begun about Oct., 1898.
Stock, $400,000; 1st mortgage, 6 per cents, $1,000 each, due April,
1901, $252,000 For year ending June 30, 1897, gross, $59,733; net,
$4,578; charges, $16,468; bal., deficit, $11,890.
C in c in n a t i H a m ilt o n & D a y to n R y . — (See Map.)—Operates a
direct line between Cincinnati and Toledo, Ohio, with branches to
Indianapolis, lnd., and Ironton, on the Norfolk & Western, etc.
Road owned—(HSee this Go.)Miles.
Roads controlled—
Miles.
Cincinnati to Dayton, 0 ............ 60 Cincinnati Hamilton & lnd...IT 99
Cincinnati Dayton & Ironton.. 164 Cincinnati & Dayton................. 13
Cin. Dayton & Chicago, etc___143
Total of all.............................641
Traokage.................................... 20
Roads leased—
Owns jointly with Big Four DayDayton & Michigan................1Î142 ton & Union.
H istory , E tc.—Main line opened in 1851. Leased lines added at
various times since. In July, 1895, consolidated with the Cin. Dayton
& Ironton and Cin. D. & Chicago under the name of Cin. Ham. & Day ton
Railway. V. 60, p. 1104; V. 61, p. 68. Indiana Decatur & Western
stock control was acquired in December, 1895, and that property will
be operated in connection with the C. H. & D. system, v. 61, p. 1064.
Stock .—Capital stock of C. H. & D. Railway is common $8,000,000;
preferred 5 p. c. non-cumulative, $8,000,000. Old railroad common
received 165100 shares of the new preferred and 2 shares of new com
mon for each old share. The new preferred is entitled to 5 p. o., then
common to 5 p. o.; then both share equally.
D ividends since consolidation—
1895.
1896 to Feb. 1899.
New preferred, issued in 1895...............
114%
5% yearly (Q-F.)
Old preferred, guar. 4 p. c .....................
4 per cent yearly (quarterly)
B onds.—The general mortgage is for $7,800,000, of which $4,800,000
reserved to retire the prior liens at maturity; the prior bonds must not
be extended. The mortgage covers the perpetual lease of the Dayton A
Michigan, the profits under which are large. V. 54, p. 799; Y. 55, p. 373.
Guaranties .—Guarantees securities of Cin. Hamilton & lnd. and
Day ion & Michigan. Control of Cin. N. O. & T. P. is held by .South
western Construction Co. (see Y. 65, p. 1173) for Cin. H. & D. and
Southern Railway jointly. (V. 62, p. 1139; V. 63, p. 228.)
R eport .—Fiscal year ends June 30. Report in V. 67, p. 1305, showed:
Year."
Gross.
Net. D.Jc M. rent. Intend, Divi dends. Bnl.snr.
1897-H.... $4,v>O8,603 $1,487.215
$317,:-07 $71",s o
$383, 5L
$? 2,ws>7
1890-7 ...: 4,027,*52
1 ,898,670
317.P8
710,570
383,083
def.12,1*1
Coupons, E tc.—June, 1894, coupons on gen. mort. were purchased.
Subsequent Payments
*2 cash,*a scrip.
80 p. c. cash, 20 p c. scrip.
Ch. & W. M. 5s of 1881. Deo.,’94 to June,’97. Deo.,’97 to June, ’98.
Ch. & N. M. 5s o f ’ 91.
Nov.,’ 94 to May,’ 98.
N o v .,’ 98.
Deo., 1898, Chio. & W. M. coupon paid in fujl. (V. 66, p. 1109.
D ividends —In 1887, 2*2 p. o .; in 1888, 2 ; in 1889, 2; in 1890, 3; in
1891, 3 ^ ; in 1892, 3 *2; in 1893, 1*2 p. c.; none since.
L atest Earnings.—From Jan. 1 to Nov. 30 (11 months) :
11 months.
Gross.
Net.
Int., rent., Ac.
Balance.
1 8 9 8 ..................... $1,810,837
$398,131
$381,056
s«r.$17,075
1 8 9 7 ..................... 1,515,655
319,090
379,387
def. 60,297
A nnual R eport .—Report for year ending December 31,1897, was
in V. 66, p. 854, showing: Gross, $1,650,724; net, $350,326; other
income, $2,862; charges, $415,971; def., $62,783; 1896, gross, $1,«42,617; net, $321,141.—(V. 67, p. 842,1109.)
C h ic a g o W i s c o n s in &. M in n e s o t a R R . — Owns Schleisingerville, Wis., to Central Station, Chicago, 122 miles. Was leased for 99
rears from Sept. 1,1885, to Wis. Can.; but in May, 1897, lessee being
n receivers’ hands, lease was suspended and net earnings paid under
order of Court in lieu o f rental—see V. 64, p. 903.
St >ck , E tc.—Stock, common, $1,040,000; preferred, 6 p. o.. cumu
lative, $1,560,000. In 1898 $100,000 improvement notes were paid
off and funds set aside to pay all coupons on bonds maturing March 1,
1899. Impt. notes outstanding, $240,000, 8s; debentures, $60,000. As
to call for deposits of bonds in Dec., 1898, see V. 67, p. 1308, 1356.
E arnings.—Report for 6 months ending Deo. 31,1898 (Nov. and
Dec. estimated), V. 67, p. 1354, showed gross, $569,741; net over ex
penses and taxes, $189,562; other income, $7,220; interest, etc.,
$128,911; surplus, $67,871. (V. 67, p. 1356.
*
C h i h u a h u a & P a c ific R R . — In course of construction from Chi
huahua, Mexico, to Guerrero, 125 miles, to be completed by end of
1898. The company has a Government concession and the line is pro
moted to the Pacific Coast. Stock is $2,500,000, all issued. No bonds
issued to Jan , 1899. (V. 66, p. 573.)
c h o c t a w & M e m p h is R R . —(See Map.)—Little Rock, Ark., to
Mississippi River, opposite Memphis. 133 miles. Extension, Li tie Rock
westerly 1«4 miles, to connection with Choctaw Oklahoma & Gulf at
Howe, lnd., Ter., is in progress and will be completed in 1899, making
397 miles in all owned.
Organization and L ease .—Incorporated Sept. 15, 1898, as suc
cessor o f the Lit.|Rk. & Mem., foreclosed Oct. 25, 1898. Leased for 95
years to C. O. & G. for a division of through business on a mileage pro
rate sufficient to guarantee interest on pref. stock, 2 per cent for first
year of operation, 3 p. c. for second year and 4 p. e. for third year and
thereafter. After payment of b per cent on preferred, one-half o f net
1,607,717
317,188
710,507
302,013 sur.s7S,01O
earnings to go to C. O. & G., the other half being available for divi 1895-6.... 5,147,562
(V. 64. p. 82; V. 66, p. 8 0 8 1043; V. 67, p. 319,1002, 1 3 0 5 .)
dends on $1,750,000 common stock. V. 67, p 126, 529.
Í
BONDS.
AND
STOCKS
KAILKOAD
1899..
Januaby.
46
INVESTORS’
SUPPLEMENT.
[V ol. L X V I ir
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d In t b e s e T a b le s .
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Date Size, or
pal,When Due.
Amount
of
Par
Rate per When
and by Stocks—Last
Bonds Value. Outstanding Cent. Payable Where Payable,
Whom.
Dividend.
Cin. Hamilton A Indianan.—1st M., guar. p. & 1...
99 1873 $1, >00 $1,800,000
7
&
J,
N.Y.,Kessler«ScCo54Wall
Jan.
1, 1903
General mort. for $3,800,000, gold, to be gu ar...
99 1893
1,000
See text.
5 g.
& D,
June, 1943
Cincinnati Lebanon A Northern—Stock $1,000,000
993.000
1st mortgage.................. ......................... ............... e “ 38 1886
1,000
200.000
5
Cinn., Cen.Tr.&S.D.Co
Jan., 1916
Special mortgage (to redeem certificates)............
38 1894 100, <fcc
172,400
2 to 5
do
do
July 1, 1914
Cert, of indebt., conv. into spec. mort. bonds___
38
320.000
Cin. A Muskingum Val. Ry.—1st M. $2,000,000, g. Fo* 148 1898
1,000
1.500.000
4= g. F. & A, N.Y., Farm. L. <Sc Tr. Co, Aug. 1, 1948
Cincinnati New Orleans A Texas Pacific—Stock....... 336
100
3.000.
000
Oct. 19,1891
Car trusts, June 30,1898.........................................
493,749
6
Various
To Sept., 1903
Cincinnati Portsmouth A Virginia—Common stock Ì07
100
1.566.000
Preferred stock, non-cumulative (see text).......... 107
100
594.000 3 in 1898 J. & J.
Cincinnati, Ohio.
Jan. 15,’99,2%
1st mortgage, $500,000, gold, red. at 105__ o&r*
108 1895
1,000
400.000
g S- J. & D. Investm’t Tr.Co.,Phila. June 1, 1925
Cin. Richmond A Ft. W.—1st mort., gold, int. gu.e*
86 1871
1,000
1.800.000
J. & D. N. Y., Winslow, L. <Sc Co. June 1, 1921
Cin. Saginaw A Mack.—1st M., $2,000,000, gold..o*
53 1890
l
g*
1,000
1.729.000
5 g- J. <fe J. New York and London. Jan. 1, 1920
Clear field A Mahoning—lstM.g.,gu.p.&i. (end.) .o*«fcr
26 1893
1,000
650.000
5 g. J. <fe J. N. Y., Guaranty Tr. Co. Jan. 1, 1943
Cleveland Akron A Columbus.—Stock............. .
100
4.000.
000
Oot. 3, 1892
General mort. (now 1st,) for $1,800,000 g o ld ....o 177 1887 500, &c
1.800.000
5
g M. & 8. Hamilton Tr., Bk’lyn. Moh. 1, 1927
Eauip. Trust & 2d mortgage, gold, (See text)__ o'"
177 1890
1,000
730.000
F.
&
A.
do
«
S
c
80B
’
way,N.
Y.
Aug.
1, 1930
®g
1st consol, mort., $4,000,000, gold. See tex t___
1,000 As collateral
1893
5 g. J. & D.
Deo. 1, 1943
Cleveland Belt A Terminal—1st M. $1,000,000.......
6Ï3 1891
902.000
5
stk
J.
«&
D.
Boston,
Co.’
s
Office.
Jan.
1,
1941
Cleve. Canton A South'n—Receivers’ certificates...
124.000
Cleveland & Canton 1st mortgage, assumed___c Ï6 Ï 1887
1,000
2.000.
000
J.
&
J.
July,
1895,
not
paid.
July 1, 1917
Eauip. Tr. & Improve. 2d M. ($2,000,000) gold c* 161 1891
1,000
1, 121,000
A. <fe O. Apr.,’93,coup.last paid. July 1, 1917
Coshocton & Southern 1st mort., gold, assumed..
30 1887
1,000
600.000
J. & J. July, ’ 93, coup, last pd. July 1, 1917
Coupon notes..................... ...................................
1889
26,000
A. & O.
Apr. 1, 1894
Cleveland Chagrin Falls & Mo., 1st M., $200,000
1889
1,0'dó As collateral
A. & O.
Apr. 1, 1929
Debentures, lien on rolling stock.......................
1890
1,000
150.000
&
N.
M.
May 1, 1896
Waynesburgh & Canton 1st M., gold, assumed.. .c
1888
1,000
200.000
J. <fe D. June,’93, coup, last pd. June 1, 1928
Gen. 1st M. Zanesville real estate, $200,000 iss...
1,000 As collateral
1890
J.
«
S
e
J.
Jan.
1, 1941
Cl. Can. & So., consol. M., $26,000 p. m., gold..o*
1892
1,000
76,000
M. «Sc N.
May 1, 1942
Equipment trusts June 30,1895............................
559,183
M.
«
S
c
N.
Real estate mortgages as on June 3 0 ,1 8 9 5 ........
105,700
Massillon RR. (leased) 1st mortgage................... .1
1882
110,000 j
M. «Sc S.
Boston.
Moh. 1, 1912
C i n c i n n a t i H a m i l t o n Sc I n d i a n a p o li s R y . - ^ e e Map O. H.
Organized
m
June,
1897,
and
took
over
the
Ohio
Division
of Cinoin
& D .)—Owns Hamilton, Ohio, west to Indianapolis, Ind., 99 miies.
nati Jackson <fc Mackinaw and then built 19 miles of road from A d d iSTOCK.—Common stock ($2,500,000) is all owned by the Cincinnati
June, to Jackson and acquired valuable terminals in Cincinnati,
Hamilton & Dayton, which operates the road, V. 57, p. 144. Pre
in Oot., 18Q8, reorganization committee receipts represented the
ferred non-cumulative 7 per cent stock, $281,679.
securities which had not yet been issued. The amount of new securi
B onds.—The first mortgage bonds are guaranteed by the C. H. & D. ties had not been definitely determined in Oct., 1898.
(authorized $2,500,000), but $700,000, under an agreement of 1880, ¿ O t o jR jm a t i P o r t s m o u t h «k V i r g i n i a R R . — Owns from Idlewill not be Issued. The general mortgage, of which Continental Thrust wuoL’ O., to Soiotoville, 107 miles; trackage (Cin. Lebanon <fc Nor.
Co. o f New York and the Union Trust Co. of Cincinnati are trustees, is to Cincinnati, 4 m iles; total, 111 miles. Ohio <Sc Northwestern was sold
for $3,800,000, o f which sufficient reserved to retire first mort. bonds m foreclosure March 13,1890, and reorganized as above June 24,1891.
at maturity; $1,333,000 issued, but held in the treasury.
Preferred stock is entitled to 5 per cent non-cumulative dividends, then
E arnings.—In year ending June 30, 1897, gross, $632,212; net common to 5, then both pro rata. Preferred in Jan., 1896, paid 3 p. 0.;
$77,456; interest, taxes, etc., $386,371; balance, deficit for year July, 1896, 2 p. c.; 1897, 4 p. 0.; 1898, 3 p. c.; 1899, Jan., all 2 p. 0.
$308,915. In 1895-96, gross, $698.350; net, $115,404.
B onds—In June, 1895, issued a mortgage for $500,000 o f 5 pei
cent bonds for improvements and equipment. Bonds are subjeot to
C i n c i n n a t i J a c k s o n & M a c k i n a w K y . — Sold in 1897 to Reor call at 105 on ninety days notice in the order of their numbers. Trus
ganization Committee, and divided between the Cincinnati North. RR. tee, Investment Trust Co. of Philadelphia.
and the Detroit Toledo & Mil. RR., which see. Holders of the $4,234,EARNiNGS.—5 m os.,) 1898................... Gross, $132,390; net, $36,895
000 old 4 p. c. bonds deposited under the plan of Deo. 10, 1895, as
July 1 to Nov. 3 0 .) 1897................... Gross, 124,393; net, 29*413
modified (V. 61, p. 1106; v. 64, p. 41,) were entitled Sept. 30,1897, to
the securities mentioned in Chronicle of Oct. 2,1897, p. 620.
E
S
r
°
88’ $270,384; net, $47,721; taxes,
Year ending June 30,1897. gross, $632,212; net,$77, 456. Report $8,160; int., $17,456; div., $17,820; bah, surplus, $4,295. In 1896V,
for 1895 V. 62, p. 1137.- ( V . 65, p. 70, 620.)
gross, $258,652; net, $34,850.—(V. 63, p. 7 9 1 ; V. 64, p. 1180.
C in c in n a t i R i c h m o n d Sc F o r t W a y n e R R . — Owns from Rich
C i n c i n n a t i L e b a n o n Sc N o r th e r n R y . — Cincinnati, O., to
Dodds, O., 36 miles; branches, 2 miles; total, 38 miles. Purchased in mond, Ind., to Adams, Ind., 86 miles; leases 5 miles of P. F. W <fe C
May, 1896, by the Pennsylvania Company. The “ special mortgage” Now operated (January, 1898),- by Grand Rapids & Indiana Ry.
bears interest until July 1,1899, at 2 p. o., and thereafter at 5 p. c. Rental, net earnings. Interest Is guaranteed by toe Pennsylvania Co.
Consolidated mortgage bonds for $500,000 were authorized to retire and Pittsburg Cin. Chicago <fe St. L. Co. jointly (the P. C. ‘O. <fc St. L.
first mortgage bonds and for improvements; all in treasury. Year taking the plaoe of the Cin. Hamilton <fe Dayton in 1888). Stock $1 ending June 30,1897, gross, $131,600; net, $46,737; charges, $20,200. 709,313-par, $50, of whioh Penn. Co. Deo. 31,1897, owned $1,256’..
900. Due guarantors Deo. 31,1897, $1,318,338.
(V. 62, p. 502, 548, 988.) Secretary, S. B. Liggett, Pittsburg, Pa.
E arnings.—Jan. 1 to Deo. 31, were $445,341 in ’98; $406,644 in ’ 9 7 C in c i n n a t i Sc M u s k i n g u m V a lle y R R , —(See map o f Pittsburg
Net
Interest, Ac.
Balance.
Cincinnati Chicago A St. Louis.)—Owns Morrow. Ohio, to Trinway, 0., Year end. Dee.11. Cross.
.....................$406,644
$94,674
$129,412
def.$34,738
148 miles. Successor on Aug. 1, 1898, to the Cin. & Musk. Val. Ry.,
1896.....................
394,411
94,883
126,300
def.
31,417
foreclosed June 29,1898, and purchased in the interest of Penn. RR.
V. 67, p. 27. Of the bonds $500,000 are reserved for future needs.
C le a r fie ld Sc M a h o n in g R y . — (See Map Buf. Roch. A Pitts.) —Owns
Sinking fund retires yearly, beginning Oot. 1, 1899, one per cent of road, completed in 1893, from Du Bois Juno, Penn., on Buff. R. «&P..
toe amount then outstanding. Bonds are not subject to call. Stock, to Clearfield on Beech Creek RR., 26 miles. Leased during corporate,
$2,000,000; par $100; all issued. Pennsylvania RR. owned $754.000 existence and renewals thereof to Buffalo Rochester <fe Pittsburg—
n f the $1,500,000 old bonds. V. 55, p. 1078.
w W ohsee—at a rental payable in gold and equal to 6 per cent on
E arnings.—Fiscal year ends Deo. 31. Report 1897 in V. 66, p. 855- $750,000 stock, par $50, and 5 per cent on bonds, the latter being guar
p.
<fe i., by indorsement on eaoh. —See V. 61, p. 710.
Yr.end. Dec.31. Cross.
Vet.
Interest.Ac.
Balance.
$38,813
$110.092
def.$71,279
1897................. $446,458
C le v e la n d A k r o n & C o lu m b u s R a i l w a y . — Owns from H ud
1896................. 410,635
68,254
108,238
def. 39,984 son, O., to Columbus, O., 144 miles; Dresden branoh, Kilbuok to T rin-'
— (V. 64, p. 9 9 7 ; V. 66, p. 8 5 5 , 856,1044; V. 67, p. 27,176, 222,900.) way, 33 miles; coal spurs, 14 m iles; total owned, 191 m iles; trackage
C in c i n n a t i N e w O r le a n s Sc T e x a s P a c ific R y . —R oad .—Ope Hudson to Cleveland, 26 miles, and Trinway to Zanesville, 16 miles
H istory .—Reorganized under this title in January, 1886. In Septem
rates Cincinnati Southern Ry.. Cincinnati to Chattanooga, Tenn., 336 m.
ber, 1895, Calvin S. Brice purchased control and was elected president
H istory , E tc.—Organized in 1881 under laws o f Ohio to lease the In
Oct., 1898, judgments aggregating nearly $150,000 were obtained
Cincinnati Southern Railroad, owned by the City o f Cincinnati. In
October, 1895, a majority o f the oapital stock (including $500,100 on notes given for rolling stock and other material.—V. 67, p. 735.
D ividends . ) 1886.
’87.
’89.
’90.
’ 91.
’ 92.
None
purchased by So. Ry. Co. and $1,000,000 by Ala. Great Southern Ry.
Peroent. ( l>a
Ha
1
1
1
114
since.
Co.) was held by Southwestern Construction Co. for joint benefit of Sou
Ry. Co. and Cin. Hamilton & Dayt. see V. 61, p. 26 and V. 65, p. 1173.
B onds.—The equipment bonds are redeemable at 100 and interest on
Rental due City of Cincinnati $1,012,000 till Oct. 12. 1896* August 1,1900, and at 105 and interest on any August 1 thereafter
$1,102,000 till Oot. 12, 1901, and $1,262,000 till 1906. Betterments prior to 1930. Bonds in excess o f $730,000 have been canceled and
have averaged (to June 30,1898), $138,167 per annum since beginning cannot now be issued. To June 30, 1897, none of the first consol. 5s
o f lease and revert to city of Cincinnati.—See V. 62, p. 232. In May had been sold but $700,000 were outstanding as collateral. Equip
1898, the Ohio Legislature passed a bill to allow the people of Cincin ment trusts |Deo. 1,1897, $316,020; bills payable June 30,’97, $351,728
nati to vote on proposition to extend lease of Cincinnati Southern,
A nnual R eport .—Fiscal year ends June 30. Report for 1896-97*
expiring in 1906, and to authorize issue o f $2,500,000 bonds to pay
wasinV. 6 5 ,p .ll7 0 . In 1897-8, gross,$864,002; n et,$246,210; interest
for improvement o f terminals. V. 66, p, 900.
rentals, etc., $203,160; balance, surplus for year, $41,050. In 1896-97
R eceivership .—S. M. Felton was on March 19,1893, appointed re gross, $718,051; net, $140,137. Equipment payments (additional to
ceiver. A judgment for about $400,000 obtained against the company charges above) amounted to $95,779 in 1895-96.—(V. 67, p. 735.)
in May, 1897, and sale of the road will be brought about—V. 65, p.
C le v e la n d R e l t Sc T e r m in a l R R . — Owns 6>3 miles terminal
565, 1173. In Jan., 1899, claims aggregating $510,670 were ap road,
or 13 miles including side tracks, at Cleveland, Ohio. Stock
proved, oi which $83,716 preferred olaims will be paid out of $200 - common,
$3,001,000; preferred, $178,000; par $100. Mortgage
000 surplus on hand Jan. 1, 1899. (V. 67, p. 1262; V. 68, p. 84.’) trustee, International:
Co., Boston. Interest on the firsts
Action brought to assess stockholders. (V. 67, p. 125.) Car trusts June is payable in preferredTrust
stock. Loans and bills payable June 30
30,1898, $493,749.
1896, $21,700. For year 1896-97, gross, $23,147; net $7.968; int. and
L atest E arnings .—6 mos.,J 1898...Gross, $2,470,751; net, $869,658 taxes, $2,305; bal., s u r , $5,663. In 1895-96,gross,$28,659; net,$9,005.
July 1 to Dec. 31.
(1 8 9 7 ...Gross, 1,939.876; net, 653,166
C le v e la n d C a n t o n Sc S o u th e r n R R . — Owns Cleveland to Zanes
A nnual R eport .—Report for 1897-8 was in V. 67, p. 949, 950. A v ville, O., 145 m iles; Canton to Sherrodsville, 43 miles; other branches
erage freight train load 389 tons in 1897-8, against 331 tons in 1896-7- 16 m.; leases Massillon RR., 6 m.; total, 210 miles. (V. 54, p. 844).
Year end. June 30. 1898.
1897.
1896.
1895.
R eceivership .—J. W. Ward well is receiver.
Gross earnings.......$4,128,118 $3,440,506 $3,685,865 $3,487.942
F oreclosure .—In 1898 foreclosure decree under the Cleveland «fe
Net earnings............ 1,389,682
■
1,097,325
1,039,992
976 767 paatoii
first mortgage of 1887 was obtained. Sale to take plaoe about
Rental paid............. 1,102,000
1,076,839
1,061,110
1,044 878 the middle of February, 1899. V. 67, p. 1356. As to Coshocton <fc So
Miscellaneous..........
13,404
14,803
2,056
2 489 see V. 67, p. 176. As to coupons in default, see table above.
*’
R eorganization .—Meeting called for Jan. 28 to empower commit
Balance.......... sur.$274,278 sur.$5,683 def. $23,174 df. $70.600
tee to prepare plan and purchase property at foreclosure.
—V. 67, p. 125, 9 4 8 , 9 5 0 , 1109,1262; V. 68, p. 84.
ommittees .—Cleveland A Canton first mortgage committee* Charles
C in c i n n a t i N o r t h e r n R R . — Owns from Franklin, O., via Addi- A.CPeabody,
H. L. Thomell andH. K. Pomroy; depositary Meroan
on June., to Jackson, Mioh., 205 miles; trackage (C. C. C. &St. L.) tile Trust Co.Jr.,
V. 59, p.697. This committee’s Tras?Co ^
Franklin to Cincinnati, 42 m. Owns terminal property in Cincinnati. $2,000,000 firsts
have been listed on N. Y. Stook Exchange
6 PtS f ° r
Leased Detroit Toledo & Milwaukee, Allegan to Detroit, Mich., and
Cleveland A Canton equip, trust and improvement bondholders' com branches, 200 miles, from Feb. 1,1899.
mittee.—Morgan Rotch, H. B. Hollins 6 . F. Dimock, C. T. Barney
For explanation of column headings, &c., see notes
on first page of tables.
BONDS
STOCKS A N D
RAILROAD
1B99.J
J anuary,
48
INVESTORS’ SUPPLEMENT.
[Voc. LXVIII.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d i n tb e s e T a b le s .
©
«0
O
©
RAILROADS.
Bond»—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount
For explanation of column headings, &e., see notes of
Par
of
Rate per When Where Payable, and by Slocks—Lout
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Cleveland C incin nati Chicago & St. L o u is—
Common stock ($28,700,000 authorized)
$100 $27,987,835
F. & A. N.Y.,J. P. Morgan&Co. Aug.,’93, 1Lj%
Preferred stock, 5 per cent, non-oumulative.........
.... ....
100 10,000,000 5 in 1898 Q.—J.
do
do
Jn.20’99 ,l *4*
C. I. St. L. & C. eon. M.,drawn at 105, s.f. 1 p. o.c* 175 1880
1,000
703,000
6
M. & N.
do
do
May l , 1920
Gen. IstM.. $10,000,000 gold, s.f. not dr’n.-c&r
1886 l.OOO&c 7,685,000
Q.—F.
do
do
Aug. 1, 1936
Bel. & Ind. 1st mortgage (part due yearly)..
119 1864
1,000
26,000
J. & J.
do
do
7
*
to
Jan. 1, ’99
Clev. Col. Cln. & Ind. 1st M., sinking fu n d..
391 1869
1,000
3,000,000
7
M. & N.
do
do
May 1, 1899
* Consol, mortgage (see text)........................
391 1874
1,000
4,138,000 7 or 6 g. J. & D.
do
do
June
1, 1914
Gen. consol, mort, ($12,000,000) gold.......o* & r 391 1884
1,000
3,205,000
J. & J.
do
do
Jan. 1, 1934
Indian & St. L. 1st mort., in 3 ser. of $667,000.o.
72 1869
1,000
2,000,000
?
eVarious
do
do
July
1,
1919
2d M. ($2,000,000), gold, Indianap. to Terre H o
72 1882
1,000
500,000
M. & N.
do
do
Nov. 1, 1912
Cl. Cln. Ch. &St. L., White W ater V al. Div, 1 st, g.. .o’
62 1890
1,000
650,000
J. & J.
do
21:
do
July
1,
1940
Columbus Springfield <fe Cincinnati 1st M ort...
45 1871
1,000
78,000
7
M. & S.
do
do
Sept. 1, 1901
Spring. & Col. Div. (Col. Sp. & Cin.), 1st M.,g.o"
45 1890
1,103,730
M. & S.
do
do
4
g.
Sept.
1,
1940
Cairo Division 1st Mort., $5,000,000, gold...o" 267 1890
1,000
5,000.000
J. & J.
do
do
Jan. 1, 1939
St. Louis Division, collateral trust, gold___o&r 194 1890 l.OOO&c alO,000,000
Ì g- M. & N.
do
do
Nov.
1,
1990
Cin. Wab. &Mich. Div. 1st mortgage, g o ld ....o >' . 203 1891
A g‘ J. & J.
1,000
4,000.000
do
do
July 1, 1991
Gen. mort. 100 year for $50,000,000 g .......o"&r 1,808 1893
1,000 b 8,574,000
do
do
i f : J. & D.
June 1, 1993
Obligations fob P kopkibtaky L ines .
Cincinnati Lafayette & Chicago,1st mort., gold.o
56 1871
1,000
792,000
M. & S.
do
do
Sept. 1, 1901
Cincinnati Sandusky & Cleveland—Pref. stock... ....
....
50
?*• M. & N.
428,997
do
do
Nov. 1,’98, 3%
Consol, (now 1st) M. ($3,000,000) gold............. c 170 1888
1,000
2,571,000
do
5 g. J. & J.
do
Jan. 1, 1928
Cincinnati & Spring.—1st m., p.& i.gu. See text.o
48 1871
1,000
2,000,000
7
A. & O.
do
do
Apr. 1, 1901
2d mortgage, Big Four ow ns$526,000 m ore..e
48 1872
1,000
125,000
7
J. & J.
do
do
Jan. 1, 1902
Louisv. & Jeffersonv. Bridge 1st M.—See that Co.
Cleveland Lorain A Wheel.—Pref. stock $5,000,000.
100
5,000,000
N.
Y.,
Blair
33
Wall
St.
Oct.,
’ 96,1%
d.L or.& W.Ry., IstM .,(now 1st) $5,000,000,g.o* Í92 1893
1,000
5,000,000
A. & O.
do
do
Oct. 1, 1933
General mortgage, $1,000,000, gold, N...............o 192 1896
l g- J. & D.
1,000
400,000
do
do
June
1, 1936
Car trusts (due $5,000 monthly) June 3 0 ,18 9 8 .. .. ..
__
325,724
i g- J. & J.
M’thly to l9 0 2
Clev. A Mah. Val.—Con.M. (now 1st) $3,000,000,g. o&r 125 1888 1 .OOO&o 2,935,000
See text N. Y .,Winslow.Lan. &Co. Jan. 1, 1938
5
g.
Clev. A Mar.—1st M., s. f., not drw., gold, guar.. .c*
1,000
97 1895
1,250,000
41a g. M. & N. N. Y., Farm. L. & T. Co. May 1, 1935
a . Of these $344,000 in sinking fund Junel,’98. b $ l ,0 74,000 owned by Company
George P. Messervy, George N. Smalley, Charles H. French; deposita
ries International Trust Co., Boston, and U. S. Mortgage Co., N. Y. V
59, p. 920, 1006. Consolidated Mortgage—Robert Maclay, Louis C.
Ledyard and William Rotch. Coshocton A Southern—P. W. Smith, C.
W. Plummer and O. Prescott; depositary is International Trust Co.,
Boston; more than two-thirds have been deposited.
Stock , E tc.—On June 30, 1896, capital stock outstanding was
$12,799,459, of which *4,151,209 was common and $8,648,250 pre
ferred ; funded debt, $4,547,000, including equipment trust obliga
tions, $485,982; floating debt, $2,156,511. The outstanding bonds are
given above as reported to the Ohio State RR. Commission June 30,
1895, though in 1893 two of the loans were out merely as collateral,
E abnings.—5 months, >1898........... Gross, $314,944; net, $45,089
July 1 to Nov. 30.
S1897........... Gross, 287,898; net,
70,610
A nnual R eport .—In 1897-98, gross, $692,231; net, $131,849.
Fiscal year ends June 30. For 1896-97, gross «- as $687,959; net (over
taxes), $84,868; interest, rentals, etc., $242,119; balanoe. deficit for
year, $157,251.—V. 66, p. 573, 1139; V. 67, p. 176,1356.
C le v e ia u d C in c in n a t i C h ic a g o Sc St. L o u ts S ty.—(SeeMap ) —
Operates an extensive system of roads radiating from Indianapolis
Ind., westerly to Chicago, Peoria, Cairo, 111., St. Louis, and east
erly to Sandusky, Cleveland, Columbus and Cincinnati, Ohio, and
southerly to Louisville, with branches. As shown on map the system
comprises: ft See this company.
Owned directly—
Miles.
Leased and controlled.
Miles
Cleveland, 0 .,to Columbus, O .. 138 Cincinnati & Springfield R y.—
Gallon, O., to Indianapolis.......203
Lud.G’ve(6m.fr.Cin.)toDay’n 48
Delaware to Springfield............ 50 Colum. Hope & Greensb’g RR.— 26
Cincinnati to Lafayette..............175
Trackage into Cincinnati, &o. 32
Indianapolis to Terre Haute___72
Harrison Branch....................... 7
Total included in earns... 1,838
Leased—entire stock owned—
Operated; earns, kept separate—
Cincin. Lafayette & Chic. Ry.— 57 Peoria & East’n Ry. (ft).—
352
Cairo Vincennes & Chic. Ry.—
Kankakee & Seneca RR.—
42
Cairo, 111., to Tilton & branch.267 Mt. Gilead Short L in e ........
2
St. Lou. Div. T. H. to E. St. L.193
Columbus Springfield & Cin.—
Total of system June 30,’ 98.2,234
Columbus, O., to Springfield.. 45 Trackage 01. Cent, into Chic.. )
White Water—Harrison, Ind., to
On psieentage basis........ C 00
Hagerstown, Ind............. .
62 Trackage into Jeffersonville.>
Cin. Wabash & Michigan Ry.—
B & 0 . S. W..........................I 53
Benton Harb. to Rushv. & Br.249
Operates independently—
Other lines la)............................. 44 Dayton & Un. RR. (ft)............. 47
Cincin. Sandusky & Cleve. Ry.—
Double tr a c k .......... ................ ' qq
Sand’sky, O., to Dayt’n, O.etc.170
a No debt, or bonds ail owned
The company is also one-fourth owner of the Peoria & Pekin Union
Ry., one-seventh owner in the Terminal Railroad Association of St
Louis and two-fifths owner of the Indianapolis Union Railway and
partial owner of Dayton & Union, which is operated independently.
H istory , E tc.—A consolidation of the Cincinnati Indianapolis St
Louis & Chicago Railway Company, the Cleveland Columbus Cincin
nati & Indianapolis Railway Company and the Indianapolis & St Louie
Railway Company, made in July, 1889, per plan in V. 48, p 427 It
is one of the so-oalled Vanderbilt roads. The St. Louis Alton & Terre
Haute main Une and branch were purchased in 1890 for $10,000 000 4s
In 1889 acquired the entire stock of the Cairo Vincennes & Chicago
ana in 1890 leased the Peoria & Eastern (which see). In 1890 also
praotioally absorbed the Columbus Springfield & Cincinnati and the
Cincinnati Sandusky & Cleveland. Entire common stock of the latter
Is owned, and under a lease running tUl 1969 interest is paid on bonds
and dividends on preferred stock. V. 51, p. 457, 608.
C *•ital Stock .—According to Ohio statutes company has privilege
o f retiring preferred stock at par. On Jan. 1,1890, the common stock
was $20,500,000; it has been increased to present figure to acauire
stocks of lines absorbed, etc.
Dividends —
1890.
’ 91.
'92.
’93.
’94-’96.
’97.
>93
Common............. >4 p. c.
3
3
3
none
none none
Preferred............j From 1890 to 1896, incl., 5%.
21«
5
On preferred, in 1899, Jan., H ip . 0.
»
Bonds.—T ie sinking fund provision of the Cleveland Columbus Cin
cinnati A Indianapolis consol, bonds (stamped) has been canceled The
principal of these bonds is payable in gold, but the interest is payable
at option of holder either in lawful money at 7 per cent per annum op
in British sterling at 6 p. c.
Of the Indianapolis A St. Louis first mortgage bonds series “ A” are
J. & J.; series “ B,” M. & 8.; series « C,’’ M. & N?
8X6
St. Louis Division bonds, see deed of trust V. 52, p. 42-45.
As to the Cincinnati Wabash A Mich. 4 per cents, see V. 52 p 718
The 100 year mortgage of 1893 is limited to $50,000,000,’ of which
$29,252,000 were reserved to retire at maturity bonds outstanding on
the various Unes (exclusive of Cairo division, Peoria division, Michigan
division and the St. Louis division west of Terre Haute); of the bal
nee, $ 5,000,000 were authorized to be sold at once for double track
quipment, etc., and the remaining $15,748,000 oan now be issued
since July 1,1894,) for new construction, etc., at the rate of $1 000 -
0^0 a year: $1,000,000 were so issued in 1895-6, and $1,000,000 in
J896-7 =$574,000 were also issued in 1897 for prior bonds. V. 64, p.
1224. Union Trust Co. oí Indianapolis is trustee.
The Cincinnati Sandusky A Cleveland consols of 1888 are now a first
lie n ; of the $3,000,000 authorized, $428,850 oan only be issued on retirement of like amounts of the preferred stock.
13 « Cincinnati A Springfield firsts are guaranteed, $1,000,000 of
them by C. 0. C. & Ind. (now consolidated with Cl. Cin. Ch. & St. L.)
and $1,000,000 by the Lake Shore & Mich. So.
G eneral F inances.—On July 1,. 1898, bills payable only $3,425;
$234,300 equipment notes, payable in monthly instalments,
becoming due in 1898-99. Guarantees interest on Louisville
& Jeffersonville bridge bonds lointly with the Ches. * O.
^Traffic.—In calendar year 1895 carried 8,848,275 tons, of whloh
bituminous coal furnished 20 p. o., grain 12 p. o. and lumber l i p . o.
L atest E arnings.—From July 1 to Nov. 30 (5 months.)—
5 mos.—
Cross.
Net.
Int., Ac.
Bai., sur
1898...............................$6,430,847 $1,869,911 $1,210,125
$659,786
1897............................... 6,095,822
1,383,002 1,202,516
180,486
A nnual Report .—Annual meeting last Wednesday in October
_____ ,
Report for 1897-98 in V. 67, p. 526, 533. See also editorial, p. 508.
Year end'g June 30— 1898.
1897.
1896.
1895.
Passenger earnings.$3,350,126
$3,665,193 $4,035,326 $3,785,410
Freight..................... 9,237,507
8,254,873
8,576,700
8,783,929
Mail and express....
930,657
912,449
847,982
815,317
Total earnings...$14,018,290 $12,832,515 $13,460,008 $13,384,656
Oper’ g exp. & taxes. 10,968,367 9,864,665 10,293,703 10,254,068
P. o. op. ex. to earns.
78-24
76-87
76*47
76-61
Net earnings---- $3,049,923
Rentals, interest,&o.
336,992
Totalnet noome.
Interest on bonds...
Rentals, etc...............
Dividends................
$2,967,850 $3,166,305 $3,130,588
284,596
252,319
263,744
$3,386,915 $3,252,446
$2,708,691 $2,687,049
196,333
237,091
375,000
375,000
$3,418,624 $3,394,332
$2,639,863 $2,642,159
204,647
202,547
500,000
500,000
Balanoe.............. sur.$106,891 df.$46,694 sur. $74,114 sur.$49,626
-(V . 67, p. 27, 319, 4 2 4 , 5 2 6 , 5 33.)
C le v e la n d L o r a in Sc W h e e lin g R y . — fiStee Map.)—Owns from
Lorain, O., to Bridgeport, O., opposite Wheeling, W. Va., 158 miles;
Lester to Cleveland, 28 miles, and branch to Bellaire, O., 6 miles;
total, 192 miles, and has trackage into Wheeling.
H istory .—This railway is a consolidation Nov. 23, 1893, of the C. L.
& W. railroad and the Cleve. & Southwestern. (See V. 57, p. 979.)
Stock .—Common, $8,000,000, and preferred, non-oumulative, 5 p. o.,
$5,000,000, par $100. After dividends of 5 p. o. have been paid on the
preferred and common both stocks share alike.—V. 60, p. 1058.
D ividends .—On preferred in 1896, 3 p. o.; none since.
B onds.—The consolidated mortgage for $5,000,000 (U. 8. Mtge.
Co., N. Y., trustee) covers 192 miles main line, including the exteusiou
of 28 miles to Cleveland, completed in Deo., 1894; also 70 miles sidings,
equipment, terminals, etc., now owned or hereafter acquired. The
$700,000 Cleve. Tusc, Val. & Wheeling firsts bonds were paid Oct. 1,
1898, leaving the consols an absolute first mortgage pn the enttre road
and reducing fixed oharges $14,000 yearly.—V. 67, p. 633. Bills pay
able June 30, 1898, $88,800.
E arnings.—3 months, >1898..........Gross, $389,178 : net, $109,594
July 1 to Sept. 30. 5 1897 .......... Gross, 312,109 ; net,
72,719
R e p o r t .—Report for year ending June 3 0 ,1 8 9 8 , was in V . 67, p. 898,
showing gross, $1,501,431; net, $438,924, other income, $3,744; inter
est on bonds, $ 2 8 4 ,0 0 0 ; interest on car trusts, $ 1 3 ,8 7 4 ; written
off, $ 6 ,1 6 1 ; balanoe, $138,633. In 1896-97, gross, $1,205,148; net,
$ 3 2 4 ,0 6 5 ; 1895-96, gross, $1,586,917; net, $4 42,752.—(V. 67, p. 8 9 8 .)
C le v e la n d Sc M a h o n in g V a ll e y R y . — Owns from Cleveland,
O., to Sharon, Pa., 81 miles [57 double track]; Niles, O., to New Lisbon,
O., and branches, 44 miles. Leased to Nypano RR. (formerly N. Y .,
Penn. & Ohio) till 1962; rental $514.180 per annum, payable monthly.
In 1896 consols for $455,000 were issued to retire the last of the prior
bonds and the consol» are now a first lien on the entire road. Coupon
interest is J. & J., registered interest, Q.—J. Stock is $3,259,200, o f
which $2,758,250 is held by “ Atlantic First Leased Lines Rental Trust
Co., Limited,” of London. Dividends, usually 12 to 13 per cent per
annum; in 1897,13% p. o.; in 1898, 13*2 p. o.—V. 63, p. 968.)
C le v e la n d Sc m a r ie t t a R y . — Owns from Marietta, O., to Canal
Dover, and branch, 103 miles, and 8 miles, Valley Junction to Canal
Dover, leased. Pennsylvania RR. obtained control in Oct., 1893, having
purchased about two-thirds of the stock. Stock, $2,000,000—par $100;
B onds.—New first mortgage for $2,000,000 is dated May 1, 1895,
and is guaranteed as to principal and interest by the Penn. Company
(trustee, Farmers’ L. &T. Co., N.Y.). Sinking fund of 1 p. c. co m
mences July 1, 1896; bonds bought at par but not subject to call.
R eport for 1897, in V. 66, p. 950,shows gross $355,720; net, $9,058,
other income, $712; interest on bonds, $56,659; balanoe, def., for year,
$46,884. In 1896 gross, $360,308; net, $52,269.—(V. 66, p. 9 5 0 .)
4»
BONDS.
RAILROAD STOCKS AND
J a n u a r y , 1899.]
SO
INVESTORS’
SUPPLEMENT.
[VOL.
LX V i l i .
«n b w crlb cr» w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d in th e s e T a b le » .
RAILROADS.
INTEREST OR DIVIDENDS.
JBo»ids—Princi
Miles Date Size, or
.
pal.When Due
F or explanation of column headings, &c., see notes of
of
Par
Amount Rate Per When
and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable Where Pavable,
Whom.
Dividend.
Cleve. A Pittsb.—Stock, 7 p. c. guar, by Penn. Co___
$50 $11,226,050
7
Q
.-M
.
N.
Y.,
Winslow,
Lanier,
Dec
1 /9 8 ,1 %
Consol, sink, fund mort. for $5,000,000,notdr’n .c 199 1867
1,000
1.259.000
7
M. & N.
do
do
Nov. 1, 1900
Gen. M. for $10,000,000 g old > series A , ......... o’
199 1892
1,000
3.000.
000 4*2 g- J. & J.
do
do
Jan.
1, 1942
guar. p. & i. (end.) Pa. RE. Sseries B ........... o* 199 1892
1,000
1.699.000
4*2 g. A. & O.
do
do
Oct. 1, 1942
Olev. Tempi A Valley—1st M., $6,000,000 gold.c*&r
75 1895
1,000
5.515.000
M.
&
N.
4
g.
N.Y.,
Brown
Bros.&Co.
Nov.
1, 1995
Coast Ry. o f N. Scotia.—IstM. $5,000,000 . ... I B c*
1895
$& &
450.000
5
A. & O. Boston, N. Y. & London, Oct. 1, 1945Oolebrookaale—1stM. ,$593,400,und. Read.M of’96c 'Ï 3 1868 100 &c.
600.000
6
I.
A
D.
Phila.,
Read.
Co.
Office,
Colorado Midland—Common stock, $4,000,000___
100
3,421,300 To be in voting t rust for 6 years or mor June 1, 1898
Preferred stock, 4 per cent. non-cum.,$6,000,000
100
4.779.000 To be in voting t rust for 6 years or mor e.
Pr.lien lstM.bds.,Nos. 9,501 to 10,000,incl. (text*
To be issued only if n e cessar y prior to July, 1903.
1st mortgage, $10,000,000. See text......... C e. o*
1897
i ’ òo’ó
6.250.000 2-3-4 g. J. & J N. Y , Central Trust.
July 1, 194T
_ . «0
do
.......... Ce.c*
1897
1,000
1.011.000
4 g. J. & J, _
do
do
July 1, 194T
Equipment bonds, B., drawn at 105, gold..........c
1890
1,000
116,000
6 g- J. & J. July,’ 98, pd. when due, Jan. 1, 1900
Colorado A Southern Stock, com., $31,000,000...
30,429,982
1st pref. stock, 4 per cent, non-cum., $8,500,000
8.500.000
2d pref stock, 4 per cent, non-cum., $8,500,000.
7,986,299
1st mortgage, gold, $20,000,000............................ ,086 1899
17,500,000
4 g. F. & A 1st coup. pay. Aug. 1,’99 Feb. 1, 1929Col. Wyoming A Gt. No.—-1st M „ $6,000,000, g. . c*
1895
500.000
5 g. M. & N.
Philadelphia.
Mav 1, 1925Col. Newb. A Laurens—1st M .,g.,$3,000,000..SBa ‘ *63 1887
1,000
899.000
6 g. J; & J. Nat. Far. & P. Bk., Balt. July 1, 1937
Income bonds............................................................
47,068
Columbus A Cincinnati Midland—Common stock..
2.000. 000
Owne d by B. & o .
Preferred stock (see remarks) non-voting.............
1,000,000
J. & J. Jan., ’ 96 div. last paid. Jan., 1896
1st M.,ext., guar. p.& i. by Cent. O.andB. & O.c"
71 1884
1,000
2
,
000,000
J. & J. Jan., ’9 , paid May, ’98 Jan. 1,1 93 9
44
Columb. I I . Val. & Tol.—Common stock................
100 11,696,300
Preferred, non-cumulative, red. at 100........
100
2.500.000
J. & J.
Receiver’ s certificates, $500,000, gold (see text).
•Jan.2, ’ 97,2 *2*
1897
500.000
Matur’y Cleveland,O..Soc.f. Sav.
Col. & Hock. Val. 1st M., 7s, ext. to Oct., 1899.'"'
76 1867 5ÓÒ&0.
1.401.000
A. & O. N. Y., J.P.Morgan & Co. O ct"" Ï , "Í8991
Col. & Toledo 1st M. (Columbus to Walbridge)..c* 118 1875
1,000
2.500.000
F. & A. N. Y., State Trust Co. Aug. 1, 1905
Col. & Tol. 2d mort. (Columbus to W albridge)...c 118 1880
1,000
600.000
M. & 8.
do
do
Ohio & West Va. lstm ort. (Logan to Pomeroy)..c*
Sept. 1, 1900
85 1880
1,000
1.584.000
M.
& N.
do
do
Consol. M., g., on road and Hook’g Coal & R R .C e 329 1881
May 1, 1910'
1,000
8,000,000
M. & 8. Sept., ’97, last paid.t
Sept. 1, 1931
t Subsequent coupons purchased on certain tei ms— s ee tex t,
T>£, ? v £ ,a -n ^ 4P iVe\v C a stle T ty.—(See Map o f Lake Erie A Western
RR.J—Projected in April, 1898, in the interest of the Lake Erie &
Western RR. to build an extension o f the Northern Ohio Rv. from its
present terminus at Akron, Ohio, to New Castle, Pa., with a branch.
some 85 miles. A t New Castle connection was to be made
with the Allegheny & Western, a road under construction in the interest
o f the Buffalo Rochester & Pittsburg from New Castle to Punxsutawney. A traffic contract was agreed upon between the two com
panies, and the through line was to be put into operation within the
year.—(y. 66, p. 337.) Contracts reported let in Aug., 1898; but sub
sequently work reported discontinued. (V. 67, p. 1004.)
C le v e la n d & P i t t s b u r g R R .-(S e e Map Pennsylvania Railroad.)
Rochester, Pa., 124 mUes; branohes—Bayard, 0.,to New
Philadelphia, 31 miles; Yellow Creek to Bellaire, 43 m.; traokage Roch
ester to Pittsburg (Pittsb. Ft. Wayne & Chic.), 26 miles; total, 224 miles.
In Deo., 1898, purchased coal road extending to 8alineville, O., 3 miles.
L ease—Leased for 999 years, Deo. 1,1871, to Penn. RR. Co., and lease
transferred to Pennsylvania Co. Rental, 7 per cent on $11,226 050
i ^ all Uabmties b° nds and organization expenses, the lessees assumB onds.—General 4^8 are all equally secured; guaranty. V. 56, p. 604
. E ajsninos.—Fiscal year formeriy ended Nov. 30; changed in 1898
tjo Deo. 31. Report for 13 months ending Dec. 3 1 ,1897, was given in
V. 66, p. 949, showing gross, $3,607,766 ; net, $1,410,123. Profit to
lessee was $280,600. For year 1895 96 profits were •
qoj •
1894-5, $342,901; in 1893-4, loss, $55,452 (V. 6 6 ^ 1 ? 9 4 9 )
’
C l« v e la n d T e r m i n a l dc V a lle y « R . - S e e Map Baltimore A
Owns from Cleveland, Ohio, to Valley Junction, 75 miles;
sidings, 12 miles. In Dec., 1898, extension from Shandyville to Mag9or>Ddl^8t / e£ (?rted
1)6 proposed. Successor, as per plan in
V. 60, p.437 and V. 61, p. 70, to Valley Ry. (of Ohiô', sold in fore
closure Sept. 10, 1895. The Baltimore & Ohio controls the new com
pany. A traffic agreement was made with Wheeling & Lake Erie in
1890. V. bo, p. 155.
Stock —Of the $4,615,300 common (par $50) B. & O. owns $4,594 300
common and o f the $2,060,750 preferred, $950,200; par $100.
J h? first mort, bonds are guaranteed, principal and interest,
by the B. & O., endorsed; interest is paid regularly from earnings.
E arnings .—Year 1897-98, gross, $855,844 net. $285 232- interest
$220,532; taxes, $20,220; siS-plus,$44,430. (V ?6 3 ,p 7 9 1 .)
C o a s t B y . o f N o v a S c o t ia .—Road from Yarmouth to East Pubuioo, 31 miles, was in operation in Aug., 1897; 20 mUes additional to
m operation by October, 1898. Road projected to
Lockport, 50 miles. Capital stock auth. $1,000,000; issued, $500.000
President, Thomas Robertson, Yarmouth.
’v
'
^„®?I0 r.a id 0o o i l d l f n d TK y , “ 9^H 8 from Colorado Springs to New
Castle, Col., 229 miles; Jerome Park branch, 15 mUes; Aspen branch
ic iîn' !oLe^,dvllle b ran ch ,4m .; spurs to quarries, 3 m.; total, owned
269 miles (not mciuding 2-09 miles o f Busk Tunnel Ry.) Leases New
Castle to Rifle Creek, 14m. and Rio Grande Junction RR., Rifle Creek
Col., to Grand Junction, 63 miles; total owned and leased, 346 miles!
Organization .—Successor Oct., 1897. to the Colorado Midland Rail
road, foreclosed and reorganized per p la n in V. 64, p. 1 2 2 4 12 2 6
Stock .—Both classes of stock will be held in a voting trust for six
years and thereafter uutil the first mortgage bonds shall have re
ceived 4 per cent interest m cash for three successive years. The voting
trustees are F P. Olcott.H enry F. Rogers, A. H. Joline, W. Lidderdalf
and Cecil W. Boyle. As to voting trust, etc., see V, 66, p. 856,1044
B onds. - O f the new bonds, $3,750,000 are 4s and $6,250,000 bear
interest in cash at 2 p. c. to July 1,1900, then 3 p. c. to July 1 1902
[with preferred stock scrip for the interest up to 4 p. c. not paid in
cash, payable yearly on July 1], and 4 p. c. after July 1, 1902 See
description of bonds in V. 66, p. 856. Of the new 4s sufficient were
reserved to retire the equipment bonds as they mature and to pro
vide for purchase of Busk Tunnel 1st 7s for $1,250,000; also * l 3o5,100 new 4s, $590,700 pref. and $579,800 common stock will re
main for future needs. To Dec., 1898, no agreement had been
reached with the Busk Tunnel bondholders.—V. 65. p. 327 367 Th«
right is reserved to issue $500,000 prior lien 4s if necessary prior to
uiuy JL) lyUü.
Charges. Obligatory charges for first three years under plan in
cluding taxesandrentals, $322,051, against $831,320 for old Co.
L atest E arnings—5 mos. ) Gross 1898........$732,429; net, $154 581
July 1 to Nov. 30.
) Gross 1897........ 795,408; net, 8 9 ,2'9
E arnings .—In V. 66, p 857 (balance sheet V. 66, p. 1044) showed.
Yrs. end June 30. Gross.
Net.
Rent, Taxes, etc. Bal fo rin t
1897-8....................... $1,731,443 $139,000
$206,757
Jsai-Jorln t1896-7............. . . . . 1,671,543
335,374
151.485
snrffilRf krq
1895-6....................... 1,906,280 558.067
14.5,015
sw ! 413 052
1 8 9 4 -5 ................... 1,592,661 368,947
149,014
sur. 219)933
Ne w Officers .—(Nov., 1897.)—President and Manager, George W
Ristine, Denver, Col.; Secretary and Treasurer, Oscar Bunke 41 Wall
8t.AN Y .- ( V . 66, p. 708, 810, 856,1044; V. 67, p. 28, 125/ 578, 900,
l i o y , H oy).
C o l o r a d o & N o r t h w e s t e r n B y . —Boulder to Ward, Col., 2 6 ^
Sil®8,* °P®rat®fi from Oct., i898. Branches projecte d from 8unsettoc ?1->19 miles, and Eldora to Middle Park Col 45 miles» to
£al. OOmfies. Stock, $5« >0,000; par $100; all issued. Bonds $500 *
000 50-year gold 5s, dated Sept. 1 ,1 8 9 7 (M S.), Mer ckntile Tnxst C o Boilderr.UCoei?'
* W' ° ' Gulbertson: Sec.? Chas. B? Cifibertson *
C o lo r a d o Sc S o u th e r n R y .—(See M a p )—Opentes from Orin
eluding?’ Wyomlng’ througtl Colorado ^ to F ortW orth , Texas? in '
IA es wned.
MUes.
Cheyenne to Orla Junction........ .
Denvei to Bessemer J u n c t, C ol...
Denver to Leadv. (narrow gauge).
Como to Baldwin Mine ( do ).
Trinidad, Col., to Texas State line
18fl8
ern
154 Other lines, br., etc. (V6 nar. gau.) 387
128
151
131
135
¿rack /q— Pueblo to Walsenburg
(Denver <&Rio Grande)............ 60
Total owned and leased.........1,146
Als • lui• I'lrtiH interest in Port
Worth & Denver City Ry., 456 mi les.
l!aneli*,La Sa11e- Col., to Julesburg, 151 miles, arranged
Un1oa p »«iflo after foreclosure omitted, in Nov.,
Pend'n« for the »ale of the Cheyenne & N irth° rin Junction, 154 miles, and several branch lines.
Organization . Incorporated on Deo. 20,189^, per plan in V. 67
F eld v IUa
to the Union Pacific Denver & Gulf and Denver
Leadville & Gunnison, oreclosed and sold in Nov., 189-*. The new
nrlh?r?^Am?kK?,*88e8810n
1 w99. Formerly controlled by
n“.w opera1ed independently. V. 49, p. 720. The
+bE1/?^ iy’ lite. lt8 predecessor holds in Its treasury a large majority of
the common stock of the Fort Worth & Denver City Ry., which see.
(authorized amount $20,000.000) $2,2 >0.000
diHnna6r^A+ii^Ltlie+acqui8^tion o£ 00al Properties, and for future adequipments, etc., at not exceeding $30 ',000*
8eoond preferred and $57.>.018 common stock are
likewise reserved for coal properties and contingencies.
,
T r p s t - A ll classes of stock will be vested in the voting
tta^ 66! ’ Grenville M. Dodge, Frederic P. Olcott, Harry Walter^.
^r?ferrA(l1
?t<?Akn?h^nK
T? d>l ora flve
years
the first
pr ferred stock shall i,one<ijr
have received
4 per
centand
cashuutil
dividend
for
the^iock t^ an y^ e^ fer d ^ e .6 voting trast©es may, however, deliver
b o^ d ^ ^ ca rry th^o verdi^ccmpons :°^ exchange 18 as folloW8’ the old
Will receive.
1st M. 1st pref. Zdprrf. Com_
Each $1,000 bond and $100 stock dep’d. AIssueA
4».
Stnck. Stock. Stock.
U. P. Denver & Gulf Consols. ..........$15,801.000
8 K)
$ 30 1 $300
Denver Tex. & Gulf 1st M .............. 1 012 COO $8)0
h50
300. . . .
Denver Tex. & Port W. >st M .......
72L.000
800
300
300
Funded int. certificates.......
8 0)00
.................
1,000
«Colorado Central .st M .................. 4.7i-8 000 See fo o t note “ a.”
bC. P.4 (is 18so (Den.. Lead. & Gun.). 2,308',000
«50
200
150
U. P. D. & G.
? Stock (if paying) QAionnoo
2-50
Den.Tex. A F. W .) Slti per share,) | 30,429,982
$100
a. These bonds will receive par and interest in cash.
b. From notice of Denyer.Leadville &Gunnison commitf eee as above cited.
E arnings.—11 months, ) 1898.1.Gross, $3,461,459; net, $1,187.007
Jan. 1 to Nov. 30.
> 1897...Gross, 3,215,401; net,
912,143
A nnual R eport .—Report of old Co. for 1897 was in Y. 66, p. 613.
p l S ’S S 'w f S liw “ ® e*rn" 1* 9’ eharee0. «to., of the propertied in the
T ea-end. S uneS O - " m
'i ^ W
. '"
Gross earnings......... $3,7-7,001 $3,223,635
$685,719 $704 398
Net over taxes.......... 1,026.102
763,403
89,911
4755«
Average net earnings, both lines, for above years ...........
$963’486
/SSProxJm?AeD? t earnings o f Julesburg branch (sold)
$170,000, and add miscellaneous Income $15,000, net.......... 155,000
Average net earnings of roads included in plan............... $808,486
Estimated net earnings fo r year 1897 98.....................
$1 050 000
Fixed charges under p la n -4 p. 0. on $17,500,000bon d s.... Vo«»’ 000
Present fixed charges..................................... ; ......................... 1 3 2 1 4 2 0
Officers .—The officers and directors a re :
Directors.—Frank Trumbull, Grenville M. Dodge. Frederic P Olcott
Luther K?umzye Udge’ J-
T° d’ « ^ e r L e r C m ^ R R e k m Z L
,„ offlc er8 —President, Frank Trumbull, Denver, Chairman o f board o f rfirAt»w?n’<M?Iiein ni9e
9 0<3Fe, New York; Vice-President (in caarge o f truffle) B L
Wincnell Denver; Secretary and Treasuref. (Jnarles Wheelei-, Denver- Assistr n 9eB e M y aitd Assistant Treasurer, H. Bronner, New Vork¡ General A uditor
—V. 67, p. 748, 842, 843, 905, 957, 1004,1112,1161.
V a ll e y R R . — In Dee., 1898, completed from Sweet01s Pexa8 ^ Pacific RR., south, 25 miles to Oakhurstfurther extension contemplaited to San Angelo, Tex., making 76 miles
in all. In Oct., 1898, Mr. Sloan of Trammell A Co., Sweetwater Tex
reported to be appointed receiver. V. 67, p. 842. I. H /W heateroft ’
Vice-Prest. and Gen. Man,, Sweetwater, Tex.
^ wneateroio,
J a n u a r y , 1899 J
BAILROAD
STOCKS
51
AJtfD BOJIOS.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
Nonas—Princi
INTEREST FOR DIVIDENDS.
\________________RAILROADS._________________
Miles Date Size, or Amount
pal, When Due.
of
Par
Outstanding Rate Per When Where Payable, and by Stocks—Last
Fbr explanation o f column headings, &o., see notes of
whom.
Road. Bonds Value.
Cent. Payable
Dividend.
on first page of tables.
<Colum bus M o ck . Val, & Toledo—( Concluded)—
Gen.M.,gold,on road <&HootingCoal& KR.C0. K .0
Ohio Ld. & Ry.Co., M.,g,.s. f., red.at H O .seetext
Wellston & Jack. Belt L.,1st M., $300,000,gold, gu.
General lien mortgage, $30,000,000, gold.«.c*& r
Securities to be Outstanding Under P lan.
Stock, common, $ll,000,0i 0 ..................................
Stock, pref., $15,000,000 4 p. o. n on-oum ............
Col. & Hock Val. 1st M., 7s. ext. to O c t, 1899.C*
Col. & Toledo 1st M. (Columbus to Walbridge).e*
Col. & Toledo 2d M. (Columbus to Walbridge).o*
Ohio & West Va. 1st M. (Logan to Pomeroy)o*..
New 1st consol, mortgage, $20,000,000, gold —
Oar trust bonds s. f., red. at par, gold ...................
061. San. & Hock. H R —New rec’ s ctfs .,$1,050,000
Receiver’s certificates (old Co.) out in July, 1896
1st mortgage (prior lien), $2,000,000, gold.......c*
General mortgage, $10,000,000, g old .......M p.o*
Income bonds, rion-eumulative, gold ....................
Zanesville Term’l Co. 1st m. for $500,000, gold.o*
Col. Ter. & Transf. mtge. $350,000 gu. 0. S. <fc H.
Car trust notes, June 30,1896...............................
New S ecurities Under F itzgerald P lan .
Stock ($4,000,000 is 4 per cent, non-cum., p ref..
1st mortgage, $4,000,000, gold...................... .......
2d mortgage, $4,000,000, gold...............................
Columbus & Xenia—Stock.8 per cent rental............
Concord A Claremont (N, H.)—1st mortgage........c
Concord A Montreal—Stock, Class I. (B. C. & M. pf.)
Stock, Class II (B. C. <feM. new)...............................
Stook, Class III. (B. C. & M. old stock)..................
Stock, Class IV. (Concord) $6,000,000 auth. Text
329
17
346
1884 $1,000 $2.000,000
1894
1,000
175,000
1895
1,000
300,000
1896 l,000&c
1,561,000
6 g.
6 g.
6 g.
4= g.
100
6,000,000
100 íójóóójóóó
1867 500 «feo.
1,401,000
6 g.
1875
1,000
7
2,500,000
1880
1,000
600,000
7
1880
1,000
1,584,000
7
.... 1899
7,200,000
413g.
1894
1,000
1,070,000
6 g.
6
1897-8
810,000
1895
6
500'000
227 1895
1,000
700,000
5 g.
227 1895
1,000
7,446,591 2 Li-4 g.
4
1895
1,778,000
4 1890
453.000
1,000
5 g.... 1893 1,000
341,000
5
40,000
76
118
118
85
226
226
55
71
....
....
....
....
1898
1898
1894
....
....
....
....
50
100
100
100
100
8,000,000
3,000,000
4,000,000
1,786,200
500,000
800,000
540,400
459,600
5,397,600
4 g.
8%
413
7
7
7
7
J.
J.
F.
J.
<fe D. Dec. ’96, coup last paid
<fe J. N. Y., State Trust Co.
do
do
<fc A.
«fe J. Jan. ’97, coup last paid
June
Jan.
Aug.
July
1,
1,
1,
1,
190*
1914
1915
1996
N.Y., J.P. Morgan <feCo
N. Y., State Trust Co.
do
do
do
do
Int. from July 1,1899.
N. Y . , Atlantic Trust Co.
Coluinb’s,0.,Rec’rs’ Off.
Oct.
Aug.
Sept.
May
July
Apr.
1,
1,
1,
1,
1,
1,
1899
1905
1900
1910
1999
1904
A. «fe 0
F. <fe A.
M. <fc S.
M. «fe N.
J. «fe J.
Q.—J.
A. «fe 0. Apr.,’ 97,coup.lastpaid. Oct. 1, 1900
None paid in cash.
Jan. 1, 1946
J. «fe J.
F. <fe A.
1945
J. «fe J. Jan. ,’97, coup, last paid. July 1, 1940
M. <fe 8. Mch., ’98, pd. at mat’y.
1943
New York.
Q.—M. Columbus, O.,Treasurer Deo. 10’98,2%
J. «fe J. Bost., Treasurer’s office. Jan. 1, 1914
See text.
J a n .l’ 9 9 ,l\ %
Q .-J .
do
Jan.1’99,1%%
Q .-J .
Jan.1’99,1%%
do
Q .-J .
do
Jan.1’99,1%%
Q .-J .
C o lu m b ia & G r e e n v ille (S . C .)—See Southern R a il w a y Co . plan (after making what is deemed proper allowance fora-ir eep ’ d
tion of equipment and other property), for the years ending June
30 was:
—Owns from Columbus, O., to Midland City, O., 71 miles; trackage to
1897-8.
1896-7.
1895-«.
1894-5.
Columbus, 1*3 miles. In January, 1890, leased for 999 years to Central
$866.811
$570,678
$932,773
$905,517
Ohio, by which assigned to Baltimore <&Ohio. See V. 51, p. 718. The
$750,000
Estimated
annual
fixed
charge
of
new
com
pany.....................
first mortgage interest due Jan. 1, 1897, was paid May, 1898. In
Jan., 1899, the B. & O. reorganization committee had acquired for 94
The earnings o f 1897 were abnormally low owing to competition
flat the $1,800,000 Midland 4Ljs on deposit with the Guar. Trust & whioh, it is hoped, will not again occur with like severity.
Safe Dep. Co.. Phila., audit was understood also some portion of the
Coupon P ayments , E tc.—Consol. 5s coupon due Mar., 1897, was pur
remaining $200,000. V. 68, p. 129. See official circular—V. 67. p. chased for $25 by J. P. Morgan & Co., who also advanced $20 each on
1159.
Sept., 1897, March, 1898, and Sept., 1898, coupons.—V. 65, p. 411; V.
E arnings .—In 1897-8, gross, $405,988, net, $89,532; taxes. $10,979 66, p. 471; V. 67,482 General mortgage and general lien coupons are
Interest charges (not paid), $90,000.—V. 67, p. 688, 788, 900,954,955 in default. All other coupons at last accounts were promptly paid.
1109,1159; V. 68, p. 129.
E arnings .—Year ending June 30, 1898, gross, $2,716,617; net,
$916,330. From Jan. 1 to Deo. 31,1898 (12 months), gross, $2,756,552;
C o lu m b u s H o c k i n g V a ll e y dc T o le d o R y . — Owns main in 1897, $2,533,605.
line from Pomeroy, O., to Walbndge, O., 250 miles, with trackage
A nnual R eport .—Fiscal year ends December 31. Annual meeting
(Penn. RR. System) Walbridge to Toledo, 6 m iles; branohes to Athens,
Nelsonville, eto., 73 miles; Wellston & Jackson Belt Line, from will hereafter be held the third Tuesday in March. Traffic is mostly
freight,
and 64 per cent of this is bituminous coal. The grades have been
MoArthur Junction to Jaokson, 17 miles (opened in February, 1896 ;
10 miles is eleotrio as well as steam); total, 346 m.; second track, 25 m. so reduced that the average train load is large—in 1894, 450 tons.
Tear ending Bee. 31—
1897.
1896.
1895.
1894.
H istory , «fee.—The capital stook of $1,500,000 of the Hocking Coal Gross earnings.................. $2,580,467 $2,505,611 $2,676,421 $2,688,700
& RR. Co., controlling 10,000 acres of coal lands, was purchased in Net earnings.....................
908,499
976,022 1,109,655 1,149,803
1881 for $8,000,000. The total coal lands from which the bulk of the Miscellaneous................ ..........................................
19,606
10,000
company’s business is derived aggregate about 20,975 acres. As to
status of Burke suit see V. 67, p. 1206.
Total receipts............. $908,499 $976,022 $1,129,261 $1,159,803
R eceivership .—On Feb. 25,1897, Vice-President N. Monsarrat was Interest on bonds.............
383,945
958,110
923,030
923,030
appointed receiver. V. 64, p. 422. Receiver’s certificates for $500,000 Interest on oar trusts.......)
• ( 96,765
92,572
were authorized in July, 1897.—(V. 65, p. 194 ; V. 66, p . 133. Sale Other interest....................> 104,931
105,123 < 19,004
9,864
has been set for Feb. 24,1899, the upset price being $3,500 000 on Int. to Pa. Co. on lease,&c.)
CIn op. exp. 25,765
the railroad property and $750,000 on the Hooking Coal & RR.—V. Dividend on preferred....................... *(5)100,000(5)100,000 (5)100,000
98, p. 81.
$8,572
Committee .—A majority of the consol. 5s and also general mort Balance, surplus............. $419,623def.$187,211def.$9,537
gage 6s have been deposited with J. P. Morgan & Co., whose receipts
*Paid from accumulated surplus.
for the consols, have been listed on New York Stook Exchange.—V. 64, —(V. 67, p. 482, 955,1206; V. 68, p. 40, 84.)
p. 754; V. 65, p. 151; V. 65, p. 277.
C o lu m b u s S a n d u s k y & H o c k i n g H R . —R oad —Sandusky via
R eorganization P lan— The plan issued by J. P. Morgan & Co. in Columbus to Zanesville and southerly to Glouster, Shawnee and
Jan., 1899, and published in V. 68, p. 40. provides for foreclosure and Shawnee Junction, with branches; total, 273 miles, of whioh 226
the retirement o f all the company’s direct obligations except the miles are owned and 47 miles leased. Trackage to Toledo, 51 miles.
$6,085,000 bonds issued prior to the $8,000,000 oonsol. 5s of 1881,
R eceivership —On June 1,1897, Samuel M. Felton was appointed
and also $ 1,070,000 oar trusts, which are left undisturbed. For this receiver. V. 64, p. 134,233,1088. Issue of $200,000 of receiver’s cer
And other purposes the new company w ill be authorized to issue the tificates authorized in June, 1897; prooeeds for terminal interest, etc.;
new securities shown in the table at top of next page, viz.: Com also $520,000 April, 1898, for $360,000 car trust notes maturing soon,
mon stook, $ 11,000,000, immediate issue not to exceed $6,000.0 0 0 ; and remainder for equipment; also $330,000 in Nov., 1898, to pay
preferred stook, 4 p. 0. non-cumulative, $15,000,000, immediate issue for equipment already purchased. Receiver was also authorized to
$10,000,000; consolidated mortgage 4 ^ p. o. bonds due 1991, $20,- purchase 500 box and coal cars on car trust plan. In Oct., 1898, bill to
000,000, immediate issue $7,200,000. The new, bonds besides having foreclose general mortgage was filed. V. 67, p. 900.
a blanket lien on the entire property, are to have the benefit of a first
Preferred and common stock is provided to be reserved by the Col.
lien on all, or substantially all, o f the coal lands (from which the bulk Hooking Val. <&Tol. reorg. plan to acquire interests in the Col Sand. <fe
o f the company’ s business is derived), estimated at 20,975 acres.
Hock, or successor 00. if at any time practicable or desirable. V. 68, p. 40
Of the $¿0.000,000 new 1st oonsols., $7,155,000 are reserved to r e
Zanesville Terminal.—On Jan. 11, ’98, Chase Andrews was appointed
tire the existing undisturbed b on is (these existing bonds, however,
may be extended at maturity) and $5,645,000 (estimated) for the ac receiver of this road. V. 66, p. 185.
quisition of new property ana betterments. There is also reserved $5,Interest Payments—Zanesville Terminal interest due July 1, and prior
000,000 each o f preferred and common stock to acquire interests in lien interest due Oct. 1,1897, were not paid. No coupons have been
the Tol. «& Ohio Cent, and Col. Sand. <&H. railways, or their successor paid in cash on the general mort.; July, ’ 96, and Jan., *97, in scrip.
companies, if practicable or desirable. A syndicate has been formed
R eorganization Committee .—Chairman, Louis Fitzgerald, L. C
whioh undertakes to furnish the estimated oash requirements of the Weir, F. K. Sturgis, J. G. Deshler, John T. Terry and Henry W. Put
plan and w ill purohase $4,000,000 of the oonsol. A^Ss. The rights of nam, Jr. Secretary, A. W. Krech, 120 Broadway, N. Y. (V. 64, p. 423.)
the new preferred stock are as follow s:
P lan.—The plan issued by the Fitzgerald Committee in May, 1898,
Preferred stook is to be preferred both as to dividends and assets in case
ot liquidation and subject to the statutory right o f the company to redeem the given in V. 66, p. 1001, provides for foreclosure and an exohange for
the
new securities shown in the table as follow s:
same at par. After 4 per cent on both common and preferred shall have been
paid for any fisoal year, further dividends for such year shall be for the equal
— Will n active----- -------—v
benefit o f both stocks. Total issue o f preferred stock can be increased only Old securities in amount of Paying
2d M.
Pref.
Com.
with the consent o f a majority of the preferred stock given at a meeting and
$1,000
bonds,
$100
stoek.
assess’
t.
1st
M.
income. stock. stock.
also the consent o f the holders o f a majority o f such part o f the common
Prior lien bonds. $700,000 None
$1,000
$250
stock as shall be represented at such meeting.
$150
150
$500
250
Exchange o f Securities.—The basis of exohange is as follows, the old General m ort__ 7,400,000
Incom e b on d s... 1,778,000
100
100
500
bonds to carry the overdue coupons:
Preferred stock. .4,041,000)
n
5
$50
Each $1,000 bond 1 I f
-w il l r e c e iv e n e w se c u r itie s v i z ;—. Common stock... 3,348,000 >
.........
or $100 share of >paying
1 st consol.
Preferred
Common
In addition to the amounts of old bonds shown in the table, the float
stock.......................) assess.
4#.
stock.
stock.
ing debt, receiver’s certificates, car trusts, preferential debt, etc., etc.,
Consol. 5s o f 1881. . None
$400
$650
aggregate about $2,OOO.OoO. To meet this debt and for reorganization
Gen. M. 6s o f 1884.. None
500
purposes, etc., $2,300,000 of the new firsts are applicable; $1,000,000
Gen. lien 4s o f 1896. None
1,000
are reserved for additional property and requirements of the new
Preferred stook....... $7 50
20
$20 company. Securities may be deposited with the Mercantile Trust Co.,
Common stock........
5 00
40 New York, or the Deshler National Bank, Columbus, Ohio. In Oct.,
The guaranteed loans, namely the $300,000 Welston & Jaokson Belt 1898, a majority of the 1st mortgage (prior lien) bonds and of the
Ry. and the $175.000 Ohio Belt Land <fe Ry. bonds may be excluded general mortgage bonds had been deposited and the plan declared
from the reorganization or dealt with on such cash basis or in new operative —V. 67, p. 900.
John G. Carlisle and Joseph F. Randolph of New York and Charles
securities as the reorganization managers may deem expedient.
Status o f New Company.—The estimated annual fixed charges of the 8. Hinchman of Philadelphia represent bonds deposited with the
reorganized company are about $750,000 (a reduction of $450,000), North American Trust Company.—V. 67, p. 842,1160.
Stock , E tc.—Common, $7,500,000 authorized; outstanding, $3,348
subject to further reduction when and as the 7 per cent bonds matur
ing from 1900 to 1910 are extended at lower rates of interest or re 392; pref. 4 p. 0., cum., $4,041,000; par, $100. There is also $80,00
placed by the new 1st oonsol. 4Ljs. The net income, as shown by the first mortgage scrip.
C o lu m b u s & C i n c i n n a t i M id la n d i t I t . —(See Map Balt. A Ohio.)
£ 2
IN VESTORS’
SUPPLEMENT.
THE COLORADO & SOUTHERN RY
[V ol. L X V I1I
January
1899. |
RAILROAD
STOCKS AND
BONDS
•V£
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d in th e s e T a b le s .
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Dne.
Miles Date Sia#, or
Amount
Where
Payable,
and
by
Stocks—Last
When
Rate
Per
Par Outstanding
of
For explanation o f column headings, Ac., see note of
Whom.
Dividend.
Payable
Cent.
Road.
Bonds
Value.
on first page of tables.
Concord A Montreal—( Concluded) —
Bost. Con. & Mon. improvement mortgage.. . . . .c
Concord A Montreal consol.mort.for $5,500.000.C
Debenture bonds, $650,000, c u r r e n c y ..........c w
Concord A Ports—Stock, 7 p.c. m ’l, 99 yrs. Cone d ..
Conf. A Oakl'd—1st M., g., $200,000; dm. at par..
Conn. A Possum—Pref.stock,6 p.c. rent’1,99yrs.e
1st mort. (White Riv. Juno, to Canada line) gold.c
Massawippi st’k, guar.same div. as Conn. & Pass.
Newport A Ricbford 1st mort. guar, by C. & P .c
Connecticut River—Stock ($2,670,000 authorized)..
Scrip, redeemable in ten years in cash or bonds..
Bonds, not mortgage, for $1,000,000, gold ........c
Connecting ( Phila.)—1st m., gu. p. & i. Pa. RR. en. c
Connecting Terminal RR. (Buffalo)—1st M ........r
Erie & west. Trans. 1st M. guar. drn. at 1 0 5 ..o
Cornwall A Lebanon.—Stock.....................................
New 1st mortgage for $800,000---- ...
Corvallis A Eastern—1st mort.($11,250,000).Ce.c
Cumberland A Pennsylvania•
<
— lstm ort. gold, guar.
Cumberland Valley—Stock ($484,900 is preferred)
1st and 2d ms., gold (2d$109,500 due Apr, 1908.)
Dallas to rt Worth A Qulf—Mort., $1,000,000, g.c"
Danbury A Norwalk—See New Y ork New H aven
Dayton A Mich.—Com. st’k (3^ p.c. guar.C.H. AD.)..
Preferred (8 p. o. guar. C. H. & D.) endorsed........
Delaware-Stock..................... ......... - - - - - • - - - ........
General mortgage, ser. A, for $2,000,000, gold.c
Delawa e & Chesapeake 1st M., assumed, our. .c
166
262
4Óìfl
iio
37
22
80
80
6*75
24
24
1881
1890
1897
1890
1893
1881
1893
1893
1864
1883
1892
57
1891
1898
1891
82
1856
$1,000
1,000
1,000
100
1,000
100
1,000
100
1,000
100
1,000
1,000
1,000
1,000
50
100 Ac.
1,000
1,000
50
500 Ac.
Sc H a RTFOR D.
142
32
37
117
117
54
L ate st E arnings — llm o s. 5 1 8 9 8 .. .Gross, $768,177;
Jan. 1 to Nov. 30.
( 1 8 9 7 ... Gross, 689,312;
1871
1881
1879
1864
1892
1882
50
50
1,000
1,000
1,000
25
1,000
1,000
net, $104,786
net,
83,060
Annual R eport.—Report for 1895-6 was in V. 63, p. 600 and 835.
Fears ending June 30—
1897.
,1 8 9 6 .
_ 1895.
Gross earnings... . . . . . . . . . . . . . . . . . . $796,074
$905,296
$828,l o 6
208,431
149,857
N ^earahigs.8.................................. 123.225
Taxes and rental....................................................
ik I ’ kZ i
94,781
Interest, partly paid in scrip..........................
159,571
............
—(V. 66, p. 185, 471, 5 7 3,1001; Y. 67, p. 28,176, 222, 842, 900,1160;
Y. 68, p. 40.)
C o lu m b u s S o u th e r n B y .-C o n s o l, with Ga; A Ala. V. 63, p. 573"
C o lu m b u s Sc X e n ia R R . — Owns from Columbus, O,, to Xenia, O.
55 miles. Operated as a division of the Little Miami, and is leased for
99 years from December, 1869, in connection with that road, to the Pitts
burg Cincinnati Chicago & St. Louis, which pays 8 per cent on stock.
The lease is guaranteed by the Pennsylvania Railroad Company. The
O. A X . pays 825 per oent dividend (*k out of assets) per annum, 2 i5 per
cent March 10 and September 10 and 2 oer cent June 10 and Deo. 10.
C o n c o r d Sc M o n tr e a l R R . — From Nashua, N. H., via Con
cord, Plymouth, etc., to Groveton and the White Mountains, 450
miles in all, (including Manchester & Keene, 30 miles, owned join tly;
414 miles leased to Boston & Maine; 35 miles double track.
L ease .—On June 29, 1895, leased to Boston A Maine for 91
years at rental of 7 p. c. per annum on all stock. (V. 61, p. 27, jij . )
In June, 1897, issued $650,000 debenture 4s to reimburse Boston A
Maine for money advanced on Manchester & Lawrence claim.
R eport .—Balance sheet of June 30,1896. V. 63, p. 700. The earnings
are not now reported separately. For 1894-95 gross, $2,477,199; net,
$762,896; other income, $25,103; taxes paid, $111,958; rentals,
$77,704; interest, $234,025; dividends, $360,000; balance, surplus,
$4,312. (V. 63, p. 700; V. 64, p. 1181; V. 65, p. 26.)
C o n c o r d Sc P o r t s m o u t h R R . — Owns Portsmouth, N. H., to
Manchester, N. H., 40*3 miles. Leased to Concord RR. in 1862 for 99
years. Lease, rental, $25,000; 7 per cent on stock.
C o n flu e n c e Sc O a k la n d R R . — Owns road from Confluence
Pa., to Yough Manor, Md., 20 miles; built in 1889. Leased to B. & O
May 1, 1890, for 999 years, rental being interest on bonds. B. & O.
also agrees to accept and cancel $20,000 of bonds per annum in pay
ment o f freight on interchanged tratflo. Bonds Nos. 1 to 100 may be
called in first five years, balance in seoond five years. Trustee, Fi
nance Co. of Pennsylvania, where May, 1898, coupons were paid.
Stock is $200,000.
C o n n e c t ic u t Sc P a s a u m p s ic R i v e r s R R . — Owns White River
Junction, Vt., to Canada Line, 110 m.; leases for 999 years Massawippi
Valley, 37 m.
L ease .—From January 1, 1887, leased to the Boston A
Lowell for 99 years on a basis to pay Connecticut A Passumpsio stock
5 per oent till January, 1897, inclusive, and 6 per oent thereafter,
August, 1897, dividend being 3 per oent. In October, 1887, the Boston
Sc Lowell, carrying this road, was leased to Boston A Maine. Stock
authorized, $3,000,000; outstanding, as in table.
Securities .—Massawippi stock receives same dividends as stock o f
lessee,and $400,000 of it [not included in the amount outstanding]
is pledged as part security for 4s of 1893 [$1,900,000 authorized ]
which replaced $1,500,000 of 7s due April 1,1893 (V. 57, p. 1040.)
D ividends since 1880—In 1881, 5 per cent; in 1882 and 1883, 6 ; In
1884, 5*s; in 1885 to 1896, inclusive, 5 p. 0. per annum; in 1897 and
since, 6 p. c. per annum. See rental above. Average annu *1. net earn
ings years 1890 to 1,892, $219,883.
C o n n e c t ic u t R i v e r R R . — Owns from Springfield, Mass.,
Keene, N. H., 74 miles (double tracked, 36 m iles); branches, 6 miles.
Lease .—Leased for 99 years from Jan. 1, 1893, to the Boston &
Maine, annual rental (as amended Oct. 10,1895) being 10 per cent per
annum on capital stock), payable directly to the stockholders in semi
annual instalments Jan. 1 and July 1, and in addition thereto interest
on 4 per cent bonds and scrip and $2,000 for organization expenses.
Lessee pays all taxes, operating expenses, etc., but lessor shall issue
its stock or bonds to meet the cost o f permanent improvements.
D ividends 1876 to 1892 inclusive 8 per oent per annum, and now
under lease 10 per oent. In January, 1893, paid ^ per oent extra.
BONDS.—In 1893 $1,000,000 bonds were sold to pay floating debt;
total profit and loss deficit June 30,1898, $292,689. (V. 61, p. 470.)
C o n n e c t in g R y . ( P h ila d e lp h ia ) .— Owns from Mantua Junction
to Frankford Junction, Pa., 6‘75 miles; total mileage including 2d, 3d,
4th tracks and sidings, 50 miles. Leased to Philadelphia A Trenton foi
999 years, and with that road operated by Pennsylvania Railroad.
Rental pays interest, taxes and 6 per cent on $1,278,300 capital stock
(par $50)—all of which is owned by Pennsylvania Railroad. Current
liabilities December 31,1897, $1,360,550.
C o n n e c t in g T e r m i n a l R R . (R u fF a lo ).— Owns a terminal road
one mile long in Buffalo, N. Y. Stock $20,000 (par $500) controlled in
same interest as the Erie & Western Transportation whose bonds
(authorized issue $1,500,000) are guaranteed principal and interest
by endorsement. Current liabilities June 30,1897, $216,569. In year
J. A J. B’ston.Faneuil HallB’k Jan. 1, 1911
6
$500,000
J. A D. Boston Safe D. A Tr.Co. June 1, 1920
5.000.
000 4
J. A D. Bos. S.D. & Tr., Boston. June 1, 1920
4
650.000
Manchester, N. H.
Jan., *99,31a%
J. A J.
7
350.000
1914
120.000
5 g- M. A N. May, 1898, coupon paid
F. A A. Boston, 8. Dep. ATr. Co. Feb., ’99, 3%
6
2.500.000
Apr.
1, 1943
do
do
4 g. A. A O.
1.900.000
Feb., ’ 99, 3%
do
do
6 ■ F. A A.
400.000
Jan.
1,
1911
do
do
J. A J.
5
350.000
Boston, Mass.
Jan. 1,’99,5%
J. A J.
10
2.580.000
J. A J. Springfield, Treas’rs Of. Jan. 1, 1903
4
1.290.000
Boston, Mass.
Sept. 1, 1943
1.000.
000 4 g. M. A S.
6 “ M.15 AS. Phila., Broad St. Stat’n 1900-’ l - ’2-’3-’4
991.000
May
1, 1903
Phila.,
26
S.
15th
St.
M.
A
N.
5
500.000
July 1, 1912
do
do
J. & J.
5
750.000
Feb.
1,
’99,2%
Co.’
s
off.,
Lebanon,
Pa.
F.
A
A.
4
in
1898
800.000
Apr. 1, 1921
do
do
A. A O.
5
766,400
1998
New
York
City.
F.
A
A.
4
g.
(1)
5 g. M. A N. Guar. Trust Co. of N. Y. May 1, 1921
1,000,000
1,777,850 8 in 1898 Q.—J. Phila. A Chambersburg. Jan. 1, ’ 99,2%
Apr. 1,1904-8
do
do
8 g- A. A O.
270,500
5
(1)
Oct. 1 ,’9 8 ,1 \
Cincinnati.
3*2 A. A O.
2,403,243
Jan. 3, ’99,2%
do
Q.—J.
8
1,211,250
J. A J N.Y., Kessler A Co., Cin. Jan. 1, 1911
5
2.728.000
Deo. 1, 1909
N.Y.,
Am.
Exoh.Nat.Bk.
J.
A
D.
7
225.000
6 A 7 J A J. N. Y., Bank of America. Jan. 1, 1905
495.000
Checks
mailed.
(1) ,
J.
A
J.
6
in
1898
2,987,325
July 1, 1932
do
4*2 g. J. A J.
500.000
Feb.
1, 1912
Phila.,Broad
St.Station
F.
A
A.
4
400.000
1896-97 gross, $107,419; net, $48,365; interest paid, $25,000; taxes,
$8,365; balance, surplus, $15,000.
C o r n w a ll Sc L e b a n o n R R . — Owns Lebanon, Pa., to Conewago,
22 miles; branches,3 miles. Dividends, formerly 4 to 4 ^ per cent,
yearly, were in 1893 6 p. o.; also in 1892-93 paid a special dividend
of 13 p .c.; in 1894, Feb., 2 p. c.; in 1895, Aug., 2 p .c.; in 1896, 4
p. o.; in 1897, 3 p. c.; in 1898, 4 p. c.; in 1899, Feb.. 2 p. o. In year
ending June 30, 1898, gross, $221,534; net, $112,930; interest and
charges, $46,895; dividend (4 p. o.), $32,000; balance, surplus, $34,036.
In year 1896-97, gross, $174,149; net, $ /7,856. Car trust 6s, October,
1898, $58,000.—V. 64, p. 6io; V. 65, p. 571.
C o r v a llis Sc E a s t e r n R R . — Owns from Yaquina o Idanah, Ore.,
142 miles. Land grant was 850,000 acres. Organized in Dec., 1897, to
purchase and extend the Oregon Central & Eastern, which was the
successor of Oregon Pacific, sola in foreclosure Dec. 22, 1894. Mort
gage (Central Trust Co., N. Y., mortgage trustee), secures $11,250,000
4 s, to provide for extension eastward to Snake River in Malheur Co.,
and to cover all railroad lines now owned or hereafter acquired up to
750 miles.
Earnings.—In year ending June 30,1897, gross, $82,352; net, $16,754; no fix d charges. In year ending Deo. 31, 1896, gross, $89,503;
net, $21,677. (V. 66, p. 335. 573.)
C u m b erlan d . Sc P e n n s y lv a n ia R R . — Owns from Cumberland,
Md., co Piedmont, Md., and several branches, 57 miles. Owned and oper
ated by Consolidation Coal Co., which guarantees by en lorsement the
first mortgage. V 52, p. 390. Stock, $1,500,000; par, $100. For year
ending June 30,1897, gross, $636,924; net, $351,464; total deduc
tions, $87,817; balance, surplus, $263,647. In 1895-96, net, $247,667
C u m b e r la n d V a lle y R R . — Owns from Harrisburg, Pa., to Potoma
River, Md., 82 miles (and with leased lines operates to Winchester, a
total distance of 116 miles). It leases—Cumberland Valley A Martinsburg Railroad, 34 miles; Dillsburg & Mechanicsburg Railroad, 9 miles;
Southern Pennsylvania Railroad, 21 m iles; leases Mont Alto Railroad
18 miles; total operated, 165 miies. (V. 61, p. 152.)
Stock .—Authorized, $2,000,000; outstanding, $1,292,950 com mon,
$241,900 first pref. and $243,000 seoond pref.; of this $975,800 com
mon and $237,200 preferred are owned by Pennsylvania RR. Co.
D ividends .—In 1880 to 1884, 10 per cent yearly; from 1885, to
Jan.. 1899, both inclusive, at rate o f 8 per cent yearly.
E arnings. —11 nionths,) 18 9 8......... Gross, $782,034; net, $229,769
Jan. 1 to Nov. 30.
) 1897..........Gross, 757,329; net, 243,010
R eport for 1897 was in V. 66, p. 706. Earnings entire line as follows:
Year.
Gross
Net
Int,etc.
Dividends.
Bal.,surp.
1897........ $866,654 $255,123 $43,187 (8 p.c.)$142,223
$69,709
1896......... 862,395
226,767 42,843 (8 p.c.) 142,228
41,696
- (V . 61, p. 1 5 ?; V. 62, p. 5 4 6 ; V. 64, p. 4 6 7 ; V. 66, p. 7 0 6 .)
D a l l a s F o r t W o r t h & G u l f R y . —Terminal property at Dallas,
Texas, and 8 miles road in Dallas. Proposes to build to Fort Worth,
31 miles, to cover which $800,000 30-year gold 5s were authorized in
Dec., 1898, and the $80,000 outstanding 6s canceled. V. o7,p. 842,
1356. Began operating Sept. 25,1896, and name changed from Dallas
Term. Ry. A Union Depot in Deo., 1898. V. 67, p. 1356. Stock author
ized, $500,000 (par $100); paid in, $38,700. The St. Louis Trust Co.
is the mortgage trustee. President is W. O. Connor.—(V. 67, p. 842,
955,1356.)
D a y t o n Sc M ic h ig a n R R . — (Se e Map Cincinnati Hamilton A D.
—Owns Dayton, O., to Toledo June., O., 141 miles, and leases Desh
ler to Findlay, 11 miles. Trackage (Lake Shore) into Toledo. 1 ^ miles
L ease .—Leased May 1,1863, in perpetuity to Cincinnati Hamilton &
Dayton. Rental is the interest and sinking fund of debt, and 8 per
oent on preferred stock and 3*2 per cent on common.
Securities .—Guaranty on preferred is secured by mortgage of 1871,
out the preferred carries no voting power. V. 56, p. 813. Mortgage of
1856 is held alive under mortg. of 1881, which is therefore a first lien.
Earnings.—Gross earnings in year ending June 30, 1897 (including
Troy & Piqua branch, 8 miles), were $1,459,519; net, $490,433; in
terest, $136,400; dividends, $181,007; bal., surplus, $173,026. In
1895-96, gross, $1,708,873. Due lessee July 1,1897, $1,180,232.
D a y to n Sc U n io n R R . — Owns from Dodson, O., to Union City,
Ind.. 32 miles; leases Dayton to Dodsdon, 15 miles; total operated, 47
miles. Operated by Cleveland Cinn. Chicago & St. Louis, which, jointly
«nth the Cincinnati Hamilton & Dayton, owns the capital stock.
Trustee of 1st mortgage (in June, 1896,) Central Trust & 8. D. Co. of
Cincinnati. All surplus earnings over interest goes to a sinking fund
for the redemption of bonds at not above 100. Capital stock, $86,300.
For year ending June 30,1897, gross, $135,838; net, $40,333; charges,
$22,125; balance, surplus, $18,208. In 1895-6 gross, $142,796.
D a y t o n Sc W e s te r n R R . — Owns from Dayton, O., to State line,
Ind., 37 miles, and leases 4 miles to Richmond, Ind. Leased from Jan. 1,
1865, for 99 years, renewable forever, to Little Miami, and so operated
by Pittsb. Cin. Chic. & St. Louis. Under terms of the lease, upon pay
ment of the D. & W. bonds the Little Miami w ill become sole owner
of the D. & W. Of bonds $32,000 are 7s. Stock, $309,276.
D e la w a r e R R . — Owns from Delaware Junction (Phila.Wilm. A Bal
timore), Del., to Delmar (Maryland line), 95 miles; branches, 22 miles.
The stockholders vo*ed, Jan. 14, 1899, to absorb by consolida-
34
INVESTORS’
SUPPLEMENT,
[V ol.LXV III.
J a n u a r y , 1899. J
KAIL-ROAD
STOCKS
AN D
BONDS.
3 3
S u b s c r ib e r s w i l l co n fe rv a g r e a t f a v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
Jionas—Princi
_________________ RAILROADS._______________ __
INTEREST OR DIVIDENDS.
Miles
pal, When Due.
Amount Rate Per When
For explanation o f column headings, &c., see notes of
of
P a r,
Where Payable, and by Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Del. A Bound Br.—Stock—8 p. c. gu. Phila. & Read. ....
$100 $1,800,0001
8
Q.—F. Phila., 240 So. Third St. Nov. 19,’98,294
1st mortgage...............................................................
27 1875
1,000
1,500,000
F. & A. Phila., Guar.T.& S.D.Co. Aug. 1, 1905
7
1st mort. on Trenton Br., 2d mort. on main line.
4 1879
1,000
300,000
6
M. & N. Phila., Of., 240 So.3d S t M a y l, 1899
Delaware A Hudson Canal—Stock.............................
....
100 35,000,000 5 in 1898 Q—Mch. N. Y.Of.,21 Cortlandt St. Deo. 15/98,11*
1st mort. on Pennsylvania Div. ($10,000,000)c&r .... 1877 l,000&c
5,000,000
M. & S.
do
do
7
Sept 1, 1917
Bluff Point Land Improve. Co. 1st M.,gold,guar.c* .... 1890
1,000
300,000
do
do
4 g. J. & J.
Jan. 1, 1940
Delaware Lackawanna A Western—Stock................
50 26,200,000 7 in 1898 Q .-J . N. Y., 26 Exchange PI. Jan. 20,’99,1%.
Con. M. now 1st M.on road & equip ($10,000,000) o 195 1877
1,000
M. & S.
3,067,000
7
do
do
Sept 1, 1907
Delaware Maryland A Virginia—Stock.....................
25
526,758
44 I860
Junction & B.—1st m. to State,red. aft. Jan. ’ 95..
J. & J. Phila., Broad St. Station Jan. 1, 1932
185,000
3
44 1879
Junction & Breakwater 2d mortgage..................c*
1,000
250,000
4
F. & A.
do
do
Feb., 1899
19 1874
Break. & Frank. 1st m. to State, red. aft. Jan.’ 95.
200,000
3
J. & J.
do
do
Jan. 1, 1932
Worcester RR. ls tM . (matured Apr. 1,’96) gold.o*
35 1876 500 &c.
400,000
A.
&
O.
do
do
4 g.
Overdue.
Delaware River RR. A Bridge—
1st M., $1,300,000, gold, guar. p.&i.,Penn.RR.c* . . . . 1896
1,000
1,300,000
Philadelphia. Pa.
Aug. 1, 1936
4 g. F. & A.
Delaware Susq. A 8 . RR.—Stock (auth. $1,500,000)
50
1,500,000 See text. See text.
Drifton, Pa.
Sept. 26,1894
1st mortgage bonds ($1,500,000) gold................o* ”48 1894
1,000
600.000
6 g. A. & O. Philadel., Co.’s Office. Apr. 1, 1909
Denver LeadvilleA Gunnison—1st M., gold...c*<sr
2,308,000
4 1ag. M. & N.
Nov. 1, 1918
Denver A Rio Grande—Stock, com., ($45,500,000) .
100 38,000,000
Pref. stock, 5 per cent non-cum. ($28,000,000)...
100 23,650,000 2 ^ in ’98 J. & J. Office, 47 Wm. S t, N. Y. Jan.16,’99,2%
1st mort. $1,000 gold or £206 sinking fund. .c*&r 295 1871 500 &o.
1,803,500
7 g. M. & N. N. Y., Fourth Nat. Bank. Nov. 1, 1900
1st consol, mort. (for $42,000,000) gold. Vs.c*<fcr 1,621 1886 500 &c. 28,650,000
do
do
Jan. 1. 1936
4 g. J. & J.
do
do
4ig p. c. for refund’g 1st mort. 7s 1,621 1886
1,000
4,579,000
4*2 J. & J.
do
do
Jan. 1, 1936
Improvement Mort. ($5,000 per mile) gold...o*«fcr 1,621 1888
500
8,103,500
do
do
June 1, 1928
5 g. J. & D.
Des Moines A Fort Dodger—Common stock................
100
4,283,000
....
Preferred stock, 7 p. o. non-cum.............................
100
763,500 6 in ’98. August. Chicago, C. R. I. & Pao. Aug. 2,’98,6%
1st M. Des M. to Ft. Dodge, Series A, int.guar.,end j s s j 1874
1,000
1,200,000
4
J. & J. N.Y.jChic.R.I.&Pac.Co. Jan. 1, 1905
1874
Do.
Series B, income, int. guaranteed, end..
1,000
1,200,000
J. & J.
do
do
Jan. 1, 1905
2*
55 1881
1st mort. on exten., Tara to Ruthven, int. guar..
1,000
672,000
4
J. & J.
do
do
Jan. 1, 1905
Des Moines A Kansas Oity—SKE K eokuk & West ERN R R.
tion the Queen Anne & Kent, Del. & Ches. and Cambridge & Seaford
railroads, 107 miles in all, all of which have been operated as part of
the Phil. Wilm. & B a lt.-V . 67, p. 1356.
Leased till May 13,1927, to the Philadelphia Wilmington & Balt,
which owns $1,364,675 of the stock. Lease of 1889 expired in 1897
when new lease for 30 years was made, rental being net earnings—see
Y. 64, p. 1000. Under the old lease 6 per oent was guaranteed on the
stock; dividends will hereafter be dependent on earnings; in 1898,
Jan., 3 p. c . ; July, 3 p. o. In year ending October 31,1898, gross,
$1,211,477; net, $314,752; other income, $2,744; Interest and taxes,
$52,257; dividends, $161,240; balance, surplus for year, $103,999. In
1896-7, gross, $1,087,466; net, $321,762.— Y. 67, p. 1356; V. 68, p. 129.
D e la w a r e Sc B o u n d B r o o k B B . — Owns from Bound Brook
(Central of N. J.) to Delaware River, 27 miles; branch to Trenton, 3;
second track 27 miles; all track 73 miles. In May, 1879, leased for 990
years to Philadelphia & Reading RR. for $273,000, paying interest and
8 per oent on stock; lease assumed by Phila. & Reading Railway.
D e la w a r e Sc C h e s a p e a k e B y . —Clayton, Del., to Oxford, Md., 54
miles. Phila. Wilm. & Balto. owns all the stock ($600,000), and oper
ates the line, guaranteeing the bonds principal and interest. Earnings
for year ending Oct. 31,1897, gross, $96,881; net, $10,843; interest
and taxes, $21,109; bal., deficit, for year, 10,266. Ia 1895-96, gross,
$119,363; net. $28,774; interest and taxes. $20,230.
D e la w a r e Sc H u d s o n C a n a l C o .—(See Map.;—Owns canal from
Rondout, N. Y., to Honesdale, Pa., 108 miles (completed in 1828), and
operates railroad lines extending from Wilkesbarre, Pa., via Albany,
N. V.ArO Rouse’s Point, on Canada line, with branches, 685 miles in
all. The system is well shown on the adjoining map, and includes:
Lines owned —
Miles.
Linesleased—IfSeethesecos. Miles.
Lackawanna & Susquehanna.. 22 HAlbany <fe Susquehanna...........142
Valley RR. o f P a....................... 17 ITNew York& Canada................150
Gravity R R .... ......................... 56 lIRensselaer & Saratoga............ 192
Sohenectady <&Mechanioville. 10 ¿[Union RR.................................. 22
HCherry Val. Sharon & Albany 21 ITJefferson RR. (trackage)........ 35
If Sohenectady & Duanesburg.. 14 Other lines................................... 7
I D ividends —
(1881
’ 82-’ 84
’ 85
’ 86 to Jan., ’9 9
j Since 1880, p. o. ( 63*
8 yearly
7 yearly.
General F inances.—On Jan. 1, 1898, cash on hand, $1,017,624;
coal on hand, $2,205,705; advances to leased roads, $1,102,334; ac
counts receivable, $3,901,574; total, $8,227,217; accounts payable,
$9,027,228, of which $3,300,504 was paid in January.—V. 64, p. 231.
E arnings .—Earnings of leased lines for 9 months ending Sept. 30:
9 months.
Gross.
Ret.
Charges.
Balances*
1898............... 5,887,559
2,779,463
1,857,745
921,718
1897............... 5,184,367
2,378,987
1,884,746
494,241
A nnual R eport .—Fiscal year ends Deo. 31. Annual meeting is held
on the Tuesday preceding the last Friday in February. The report for
1897, with balanoe sheet, was in Chronicle , V. 66, p. 232. The fol
lowing includes all lines except Syr. Bingh’ton &N. Y. ana Sussex RR.:
Year end. Dec. 31.
1897.
1896.
1895.
1894.
Passenger earnings
3,408,983 $3,406,492 $3,486,691 $3,550,504
Freight earnings...
15,033,700 15,319,104 16,048,893 15,526,193
Miscellaneous.........
2,559,334
2,647,909 2,738,6s6 2,735,744
21,002,017 $21,403,505 $22,274,270 $21,812,441
Ooalreceipts, e tc ... 22,973,382 22,896,382 21,927,639 21,246,421
Total gross reoeipts.$43,975,399 $44,299,887 $44,201,909 $43,058,862
RR. oper. ex. & tax. ) -A « ko a« « 5 14,069,136 13,834,420 14,645,398
Mining, £ c., expen. j
^ 23,499,772 23,606,589 21,363,797
Net receipts.......
Interest and rentals.
Dividends (7 p. o ) ...
7,316,539
5,406,239
1,834,000
6,730,979
5,406,239
1,834,000
6,760,900 7,049,667
5,406,239 5,412,323
1,834,000 1,834,000
Balanoe after d iv s... sr.$76,300 def.$509.260 df.$479,339 df.$196,656
-(V . 65, p. 277, 976; V. 66, p. 2 3 2 ,3 3 5 , 953; V. 67, p. 221, 370, 1003
1308.)
D e la w a r e H a r y la n d . Sc V i r g i n i a B B . — Owns from Harrington
to Rehoboth, Del., 44 miles; Georgetown to Franklin City, Va., 54 miles;
total, 98 miles. Controlled by Philadelphia Wilmington & Baltimore,
which owns $326,200 of stock, and so by Pennsylvania Railroad. See
Y. 50, p. 498. Loans and bills payable, Oct. 31, ¿896, $4L5,233; other
floating debt, $192,066. In year ending Oct. 31,1897, gross, $208,019;
net, $18,849; int. on bonds, $37,550; int. on equipment, $4,755; taxes,
$3.058; bal.. deficit for year, $26,514, but this does not include interest
on the floating debt of $607,299. In 1895-6, gross, $230,927; n et,
$39,634; deficit under charges for year, $5,280.
D e la w a r e B i v e r B B . Sc B r id g e C o .— Owns a bridge over the
Delaware River near Philadelphia and aboun 10 miles of connecting
railroad. Capital stock ($¿,300,000) is all owned by the Pennsylvania
RR., which guarantees the bonds, principal and interest, by endorse
ment on each. Sinking fund is one per oent, but bonds cannot be
called. See description o f bonds and guaranty in Y. 63, p. 1062.
Total operated......................................................................................688
Also leases Utica Clinton & Binghamton and Rome & Clinton RR.,
44 miles, sub-let to New York Ontario & Western.
H istory . E tc.—This oompany was chartered April 2 3 ,1 8 2 3 . It is
one o f the largest miners and carriers of anthracite coal.
D ividends . <’81. ’ 82. ’83. ’ 84. ’85. ’ 86. ’ 87. ’ 88. ’ 89 t o ’96. ’9 7 .’ 98.
Since ’ 80, p. o. ( 4 ^ 7 7
7
6 5
5 6 7 yearly. 5
5
Dividends for 1899 fixed at 5 p. c., payable quarterly.—(V. 66, p. 81.)
Bonds.—Adirondack Railroad bonds carry the endorsed guaranty
o f the D. & H. as to principal and interest. See that oompany. In 1896
$1,000,000 N. Y. & Canada debentures were issued and guaranteed—
see, that oompany. On Dec. 31,1897, loans payable were $¿,100,000.
E arnings .—Earnings of leased lines in New York State for 3 months
ending Sept. 30 were:
I n d e x .—V . 63, p. 1 5 3 ,1 0 1 1 ,1 0 6 2 ,1 1 5 9 .
r-Rens. & Sir.—,
.— Alt>. & Susan.---- , t—N. Y. & Can.—,
D e la w a r e S u s q u e h a n n a Sc S c h u y l k i l l B B . — Owns main lin e
Hmonths.
1898.
1897.
1898.
1897.
1898.
1897.
Gross
............ $1,094,259 $l,lf6,2fi0 $290,198 $899,171
$771,808 $782,836 from Drifton, Pa., to Gowen, Pa., 31 miles ; branches, 17 miles; total
owned,
48 mile». Traokage—Lehigh Valley Rtt., eto., ¿33 miles.
N et...................... 514.466
672,270
184,*02 12",576
33 ,6>1
3 6,661
Sur. over cb gs... 210,689
266,068
45,555
29,947
29.624
52,420 Opened Feb. 15,1892. The road is controlled by Coxe Brothers & Co ,
annual Report .—Fiscal year ends Deo. 31. Annual meeting is held the coal miners. D ividends Oct. 18,1892, 40 p. o. in cash : Nov. 25,
on the second Tuesday in May. Report for 1897 was in Chronicle , 1893, 20 p. c. in cash and 50 p. c. in stock; Sept. 26,1894, 2693 p. e. in
V. 68, p. 516. Coal (anthracite) carried in 1897, 5,646,852 ton s; in cash. None since. Mortgage trustee Trust Co. o f North Am. Phila.
E arnings .—Fiscal year ends June 30. In year 1896-97 gross
1896, 5,835,621 to n s; in 1895. 6,151,147; in 1894, 5,751,386.
$1,045,202; net, $186,376; charges, $40,908; bal., surplus, $ ¿4 5 ,4 6 8 ’
Year ending Dec. 31.
1897.
1896.
1895.
1894.
Receipts from coal.
$7,709,441 $7,778,225 $7,369,379 $7,864,154 In 1895-6, gross, $1,218,452; net, $194,002.
Railroads............. 10,061,167 10,201,634 10,129,082 9,448,993
D e n v e r L e a d v ille Sc G u n n is o n B y . —In 1898 absorbed by the
Miscellaneous___
589,442
566,584
1,321,157
755,074 Colorado & southern Ry., which see.
D e n v e r Sc B i o G r a n d e B B . — (See Map)—R oad —The lines o f this
Total.................. $18,360,051 $18,546,443 $18,819,618 $18,068,221
Net..................... $5,274,389 $4,852,644 $5,442,885 $5,538,673 oompany, well shown on the adjoining map, reach all the important
points
in Colorado, while its standard gauge line fromDenver via Pueblo
Int.,taxes & rentals 3,132,968
3,087,631
3,078,492
3,319,960
westerly, via Leadville and Grand Junction, forms a link in the trans
continental
route to Ogden, Salt Lake City, &o., including:
Balanoe for stock. $2,141,421 $1,765,013 $2,364,393 $2,218,713
Miles.
Miles.
D ividends............... $1,750,000 $2,450,000 $2,450,000 $2,187,500
Of the preceding:
—(V. 65, p. 194 ; V. 66, p. 81, 2 3 2 , 5 1 6 ; V. 67, p. 221, 843, 955,1054.) Road owned and operated... 1,586
Rio Gr. Jc. RR., etc. (leased).
62 Standard- gauge...................... 682
D e la w a r e L a c k a w a n n a & W e s te r n B B . — R oad - Operates Leased to Rio Grande West..
18
(Of which 301 is 3d rail.)
main line from Hoboken, N. J., opposite N. Y. City, to Buffalo, N. Y.
Narrow gauge only................. 984
409 miles, with branches to coal region, etc., 492 miles, including :
Total June 30,18 9 8 ............1,666 2d track and sidings.............. 357
Lines owned—
Miles. Linesleased—U See eachco. Miles,
In Deo., 1898, it was decided to standard gauge from La Veta to
N. J. State line to N. Y. lin e ___115 ITSyracuse Bing. & N. Y............. 81
Br’nohestoN’rthumberrnd,&c. 80 HUtica Chenango & Susq...........105 Alamosa, 60 m., to be paid for out of “ renewal fund.” —V. 67, p. 1308
The U. P. Denver & jJulf uses Denver & Rio G. tracks from Walsen
Lines leased—
[[Valley RR. of N. Y .................. 12
UMorris & Essex and branches. 157 it Warren....................................... 18 burg to Pueblo, 57. m.f at a rental of $45,000 per annum.—V. 61,p. 4 a l.
1[N.Y. Lackawanna & Western. 214 Sussex, &c........................
H istory .—Reorganization o f a railway oompany o f same name fore
50
ITCayuga & Susquehanna........ 34
closed July 12,1886. The Rio Grande Junction is leased jointly by
itOswego & Syracuse................. 35
Total operated......................901 this company and the Colorado Midland, and its bonds guaranteed. In
H istory , E tc.—This is one of the most important of the anthracite July, 1895, the Rio Grande & Santa Fe (formerly Santa Fe Southern),
coal roads. No sub-companies (coal and mining) are controlled, the rail 39 miles road, was acquired in interest of Den. & Rio G.—V. 63, p. 403.
road owning its mines. Original company chartered in 1849 ; present
D ividends sin ce’ SO) 1891 1892 1893 1894 1895 1896 1897 1898
title assumed in 1853. Its leased lines are mostly held under long on pref., per. cent........( 2 hi
0
2
0
0
2
2
2*3
leases, and the system is compact. In 1894 representatives o f the
In 1899, Jan. 16, 2 p. o. was paid, placing the stock on a 4 p. c. basis
Vanderbilts entered the directory. See V. 57, p. 721
—V. 67, p. 1308.
56
IN VESTORS’
SUPPLEMENT.
fVou LXYIII.
J a n u a r y , 1899 J
RAILROAD
STOCKS
AND
BONDS.
A7
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
Bonds—Princi
INTEREST OR DIVIDENDS.
pal, When Due.
Miles Date Size, or
Slocks—Last
Amount
Rate
perl
When
lWhere
Payable,
and
by
Par
of
of
For explanation of column headings, &o., see notes
D ividend^
Outstanding
cent.
Payable
Whom.
Road. Bonds Value.
on first page of tables.
RAILROADS.
Des Moines Northern A W.—1st M. $5,4=15,000,gold.c 149
Des Moines Union—Stock, $2,000,000 ..........-- — ^
3 "7
1st M. for $800,000, g o ld .. . . . . ................- Detroit Bay City db Alp.—See Detroit & Macki NAC.
189
Detroit Grand Haven <&Mil.—1st ©quip. M. gu— .0
Consol, mort., guar, by Gr. Trunk of Can... - - •-O 189
65
Detroit Hillsdale <fkS. W.—8t’k,4 p. 0. r©nt 1.L.8.&M8.
Detroit Grand Rapids & Western—
Common stock.................. - ......................................
Preferred stock, 5 per oent.—.
.
............. 55
Ionia & Lansing 1st mort., ext. in 1889, guar, .c
1st consol, mort., $6,000,000, lawful money...o* 350
Detroit Lansing A Northern—See D etroit G rand R apid
Detroit A Lima Northern S t o c k , $8,000,000..
Receiver’ s certificates, $500,000...................
80
Lima Northern Ry., 1st mortgage, g o ld . . . . Detroit A Lima Northern, IstM ., g ........ M a.c& r 183
Detroit A Mackinac—Stock ($90,000 is pref.)........
all
« First lien” bonds $1,500,000 gold....................c*
an
« Mort. bonds ” $2,500,000 gold, red. at par... .c*
Detroit Toledo A Milwaukee—1st M., $1,500,000...
Dover A Rockaway—Stock 6 p. o., rental 999 years.
5
1st mortgage.............................................. .......
600
Dubuque A Sioux Oily—Stock........................... .
218
111. Cent., West, lines, 1st M., gold...............-•®
Iowa Falls & Sioux City 1st M., Ia. F. to S. City.. 184
Cher & Dak and Cedar Rap. & Chio. 1st m orts... 197
Dululh A Iron Range—1st mortgage.......OTp..c<fer 181
173
2d mort., currency, red. at 105, $5,000,000.ce.o
1895
$ 1,000
1887
1,000
100
$2,933,000
400.000
628.000
2,000,000
3, 200,000
1.350.000
1878
1,000
1878 200 &c.
100
1869
1,000
1897 500 &c.
S & W e STERN R R.
100
2.510.000
3,183,500
770.000
4,279,168
4 g. J. & J. N. Y., Metropol’n Tr. Co. Jan. 1, 1915
'5 g. MÌ A N.
6
6
4
1,000
Nov".* ï," 1917
J. & J. <Second Nat. Bank, ; July 1, 1899
Boston.
I Apr. 1, 1946
A. & O. (
(?)
400.000
1.194.000
5 g. A. A O,
2.335.000
5 g. A. & O.
1,000
2.090.000
1,000
J. & D.
918.000
1895
1,000
i g- J. & D.
2,000,000
1895
1,000
1897
(1)
& O.
6
140.000
'Too
& J.
6
35,000
1,000
1881
3*2
i
n
’
98
9,999,600
100
5.425.000
1895
1,000
4 g. F. & A
A. & O
7
2.800.000
1869 500 &c
3.930.000 Deposito d to sec
1888
A. & O
5
1887 l.OOO&c 6.734.000
J. & J
6
1896
1,000 a4,500,000
1895
1897
N. Y., Central Trust.
A. & O. Mechanics’ Nat.Bk., ) Nov. 14,1918
N. Y. and London. 5 Nov. 15,1918
A. & O.
J. & J. N. Y., Farm. L. & Tr. Co. Jan. 5, ’99,2%
In default.
In default.
Oct. 1, 1945
Apr. 1, 1947
N. Y.. J. P. Morgan & Co. June 1, 1995
June 1, 1995
do
do
N. Y., 143 Liberty st.
do
do
N. Y., Office, 214 B’way
do
do
do
do
ure HI. Central 4s of 19
N. Y., Office, Mills Bldg
do
do
Oct., 1898,3%
Deo.31,’98, l^a
Aug. 1, 1951
Oct. 1, 1917
52.
Oct. 1, 1937
Jan. 1, 1916
a All but $1.000,000 owned by Federal Steel Co
B onds.—Coupons of the first mortgage sevens are payable at option oi
holder either in N. Y. City $35 U. S. gold, in London, £ 7 4s. 5d. sterling,
or in Amsterdam 86 florins, all free of U. S. taxes. Of the first con
solidated gold bonds (United States Trust Co., trustee) $6,382,500 were
reserved to retire the first sevens when due, and they can be issued at
such rates o f interest up to 7 p. 0. as will retire said bonds. Upon pay
ment of the first 7s the first consols w ill be a first lien on all the prop
erty, as they are now on about 1,300 miles of road and all the equip
ment. V. 67, p. 176. As to refunding of first mortgage, see below.
Consols for $6,900,000 are reserved for extension to Ogden, if
deemed advisable. Those unissued m aybe used with theoonsentof
a majority o f the preferred stock for extensions at not exceeding
$20,000 per mile. See abstract of mortgage in Chronicle , V. 47, p. 228.
The improvement mortgage (U. 8. Trust Co., trustee), is issued on the
property covered by the consolidated mortgage, and so eovers all the
company's property, following immediately after the consolidated•
Mortgage abstract in Chronicle, V. 47, p. 229.
G eneral F inances.—On June 30, 1898, the company held in its
treasury stocks and bonds valued at $2,017,350. The “ special renewal
fund” held $453,070. Denver & Rio Grande in 1895 advanced Rio
Grande Southern $169,839 in cash and endorsed $573,498 notes given
for Rio Grande Southern floating debt, receiving therefor $671,000 Rio
Grande Southern firsts, one-half of the stock, and all surplus earnings
over fixed charges, taxes, etc., for three years from J an. 1,1895.
In January, 1898, the company consummated an arrangement with
Kuhn, Loeb & Co. and Speyer & Co. for the refunding of the $6,382,500 jst 78 due Nov. 1,1900, into an equal amount of ist consols, bear
ing 4 Ic per cent interest. For terms of exchange offered to bond
holders see V. 67, p. 176, 319, 788. In October, 1898, all but about
$2 000.000 7s had been exchanged, and the privilege was withdrawn
Deo. 15, 1898. V. 67, p. 788,1160. The reduction in fixed charges
will be $160,000 yearly.—V. 66, p. 236.
L atest E arnings.—From July 1 to Nov. 30, 5 m onths:
5 months—
Gross.
Net.
Oth. ine.
Charges. Ral., sur.
1898
..$4,058,574 $1,720,384 $42,710 $1,010,177 $752,917
1,513,320 21.720 1,025,126 509,914
1 8 9 7 ";.'........ 3)714)549
For half-year ended Deo. 31, 1898, the estimated surplus over
charges was $775,920; payments for equipment, $105,000 ; dividends
(2 p. 0.), $473,000 ; balance, surplus, $197,920—see V. 67, p. 130s.
A nnual R eport .—Annual meeting is held at Denver the third Tues
day in October. Full report for 1897-98 in V. 67, p. 422, 429. See also
editorial, p. 401. Construction account was closed in September, 1891,
sinoe when all improvements have been charged against income.
Year ending June 30—
1898.
1897.
1896.
J895.
Average miles operated..
1,666
1,666
1,663
1,657
For year ending June 30,1898, gross, $502,601; net, $169,801; total
deductions, $133,093; balance, surplus for year, $36,708. For 1896-7,
gross, $420,136; net, $90,857.
President, F. M. Hubbell, Des Moines, Ia. (V. 59, p. 1103.)
D e s M o in e s U n io n t t y . —A terminal road in Des M oines; owns 5
miles main track and branches, 9'7 miles 2d and side tracks, bridge
across Des Moines River and 25 acres of land in Des Moines. See
statement to N. Y. Stock Exchange V. 65, p. 1173. Leased to Wabash
RR., Chicago Great Western and Des Moines N. & W. Rental equal to
expenses and fixed charges paid monthly by lessees on wheelage basis.
Bills payable June 30, 1897, $46,554. Earnings for year 1897-98,
gross, $131,482; ndt, $42,168; interest and taxes, $36,158; bal., surplus,
$6,010.—V. 65, p. 1023, 1 1 7 3 .
D e tr o it B a y C it y Sc A lp e n a .—See D etroit & Mackinac .
D e tr o it G r a n d H a v e n Sc M i l w a u k e e t t y . —Owns from De
troit to Grand Haven, Mich., 189 miles. A reorganization of Septem
ber, 1878. The principal and interest on the bonds are guaranteed by
the Grand Trunk of Canada. Stock, $1,500,000; par, $50. Real estate
mortgages, $226,000. On Jan, 1, 1898, sundry outstanding accounts,
$415,811; bills receivable, etc., $69,247. Grand Trunk of Canada
owned June 30,1897, £5,753 equip, bonds, £66,678 consols and the
$1,500,000 stock.
E arnings.—5 mos. >1898..................Gross, $441,776; net, $126,049
July 1 to Nov. 30. 51897 . . ...............Gross, 479,004; net, 148,646
For half-year ending June 30,1898, gross, $420,821; net, $73,402;
deficit under interest, etc., $108,441. For year ’96, gross, $964,357; net,
$93,744; deficit under interest, etc., $277,266—advanced by Grand
Trunk Ry. In 1895, gross, $1,001,091; net, $101,648.
D e tr o it G r a n d R a p i d s & W e s te r n t t tt .—Detroit westerly
to Grand Rapids, northerly to Big Rapids, etc., in cluding:
Operated under lease—
M iles.
Road owned—
Miles.
W. Detroit to Gr. Rapids... 147 Det. to Delrey (Det. Term.)............ 5
Gr. Ledge to Howard City 64 Delrey to Redford (F. & P. M. RR.) 8
Kiddville to Belding.......... 2 Lansing to N. Lan. (J. L. & S. R R .). 1
Stanton Jot. to Big Rapids. 63 Paines to Saginaw (J. L. & S. RR.
and F. & P. M. R R .)...................... 7
Mecosta Jot. to Barryton.. 11
Trackage—
Remus to Weidman............. 13
Rodney to Chippewa........... 5 Gr. Rapids to Sparta (C. <&W. M.) 16
Sparta
to Sheridan (T. S. & M .)... 34
Howard City to Paines— 75
Total owned.................. 380
Total operated Jan. 1 ,1 8 9 8 ...4 5 1
Organization .—Successor Jan. 1,1897, of the Detroit Lansing &
Northern and allied lines plan in V. 62, p. 319 and V. 64, p. 649.
B onds.—The first consolidated mortgage is for $6,000,000; bonds are
reserved to retire, by exchange or otherwise, the underlying Ionia A
Gross earnings................ 8,342,926 6,945,115
7,551,187 6,916,840
Lansing
first 5s, $770,000, and $1,317,082 for Detroit terminals and
Net earnings.................... 3,325,326 2,869,779 3,202,406 2,925,628 other property. Trustee, Old Colony Trust Co., Boston.
14,600
57,334
Other income..................
62,403
51,683
E arnings—11 months, 11898 ........ Gross, $1,403,677; net, $309,156
Jan. 1 to Nov. 30.
>1897......... Gross, 1,198,539; net, 259,392
Total net income............. 3,387,729 2,921,462 3,259,740 2,940,228
Year end. Dec. 31.
1897.
1896.
1895.
Interest on bonds............ 1,997,950 1,997,950 1,997,950 1,997,950
Gross
earnings?...............................$1,316,740
$1,171,282 $1,149,655
352,786
342,256
351,991
Taxes and insurance---362,0B8
Net
over
exp
.«
taxes.......................
332.377
149,161
254,303
\ 71^332
New equipment............................... --Other inoome in 1897, $4,014; fixed charges, $239,833; balance, sur
74,046 5
67,323
129,179
Miscellaneous.................
Nil.
473,000
plus, $97,558.—(V. 66, p. 4 2 4 , 8 5 5 .)
473,000 ______________________
Dividend on pref. stock..
591.250 _________
D e tr o it H ills d a le Sc S o u t h w e s t e r n t t t t . —Owns from Ypsilantl,
Balance, surplus..............
307,252
31,198
218,390
528,690 Mich., to Bankers, Mich., 65 miles. Leased in perpetuity from July 1,
O fficers—Chairman of Board of Directors, George Coppell; Presi 1881, to the Lake Shore & Michigan Southern Co.; the rental is $54,000
dent and Gen. Man., E. T. Jettery; Treas., J. W. Gilluly; Sec., Edgar H. per year—4 per cent on stock. Gross earnings in 1895, $39,961.
Booth; Comptroller, Stephen Little. Office, 47 William Street, N. Y.
D e t r o it Sc L i m a N o r t h e r n t t y . — R oad —Owns from junction
—(Y. 65, p. 25, 26, 69,350, 3 6 4 , 3 7 1 ; Y. 66 , p. 236,1188; V. 67 , p. 176. with the C. C. C. & St. L. Ry., south of Lima, Ohio, to Tecumseh,
Mich., 102 miles; from Tecumseh to Dundee, Mich., uses 15 miles
2 7 2 , 319 , 4 2 2 , 4 2 9 , 578, 788,1055,1160,1308.)
of Detroit Toledo & Milwaukee Ry. trackage; from Dundee, Mich.,
D e s M o in e s & F o r t D o d g e t t t t . —Owns Des Moines to Ft. Dodge. into Detroit, the Detroit & Lima Northern owns its own track, 43
Ia., 88 m., and Tara to Ruthven, 55 miles; trackage, Illinois Central, Tara miles, including connection tracks to other roads and about fifteen
to Fort Dodge Junotion, included above. Leased Jan. 1,1887, to Chic. miles of side tracks to reach Detroit industries.
Rook Isl. & Pac. for 18 years at rental of 30 per cent of gross earns., with
Columbus Northwestern, owned in the interest of D & L. Northern,
a guarantee o f 4 per cent interest on the first mortgage and extension was opened Aug. 15,1898, from St Johns to Peoria, O., 41 miles. A
bonds, and 2*3 per cent per annum on the incomes. Preferred stock traffic arrangement between Peoria & Columbus, O., 35 miles, gives
is entitled to 7 p. c. non-oumulative dividends, then common to 7 p. c , the D. & L. Nor. a through line from Detroit to Columbus, 247 miles.
after which both share equally. D ividends .—On preferred m 1893, In Aug , 1898, a branch from. St. Johns to St. Marys, 20 miles, was
Aug., 2 p. o.; 1894, Aug., 4 p. o.; in 1895, Aug., 4 p .o .; in 1896, Aug., about completed. V. 67, p. 428.
6 n. o.: in 1897. Aug., 6 p. c. Rental for year ending Deo. 31,1897, was
R eceiver .—On Sept 6,1898, James B. Townsend, of Lima, O , was
$151,325; for 1896 was $153,680.—Y. 64, p. 1181; V. 66, p. 1 0 8 7 .
appointed receiver and Irving Belford speoial master to report on con
D es M o in e s Sc K a n s a s C i t y t t y . —See K eokuk & W estern RR. dition of the road. J. S. Bache, of New York, was later appointed coL atest E arnings.—2 mos., ) 1898...... Gross, $29,279; net, $12,661 receiver. C. N. Haskell also sold his interests, and it was thought the
Jan. 1 to Feb. 28.
> 1897..... Gross, 23,643; net,
6,737 road would be merged in one of the larger existing companies. V. 67,
Year 1897, gross, $162,941; net, $22,615.—V. 65, p. 924; V .6 6 ,p . 760. p. 529, 689.
B ondholders ’ Committee . —rohn E. Borne, Chairman, President
D e s M o in e s N o r th e r n Sc W e s te r n t t t t . —Owns from Des Molnef
to Fonda, Iowa, 114 miles, and from Clive (7 miles from Des Moines) Colonial Trust Co.; E. A. Merrill, Jules S. Bache, Philip Lehman, and
to Boone, 35 m iles; total, 149 miles—all standard. In January, 1899, Edward L. Oppenheim; Secretary, Frederick J, Lisman, 30 Broad
practically all the stock and bonds were acquired by Chicago Mil. & Street, New York. Depository, Colonial Trust Co., New York. This
St. Paul.—V. 68, p. 40. Capital stock authorized, $8,000,000; out committee represents both classes of bonds. In Dec., 1898, over threestanding, $4,372,500; par $100. The first mortgage trustee is Metro quarters of both loans had been deposited. V. 67, p. 1109, 1207.
politan Tr. Co., N. Y.
E arnings. - For 8% months ending Sept. 21,1898, $30a,753, against
E arnings—Jan. 1 to Dec. 31,1898 (12 months), gross, $520,164, $180,829 in 1897. (V. 66, p. 616; V. 67, p. 428, 529, 689, 955, 1109,
1160,1207.)
a gainst $430,382 in 1897.
5 8
INVESTORS’
SUPPLEMENT.
[V ol.
LXYIII.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d I n th e s e T a b le « .
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due*
Amount
Por explanation of column headings, «fee., see notes of
of
Par
Rate Per When Where Payable, and by Stocks—Last
on Hist page o f tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom
Dividend.
Duluth Missabe «fiNbrffc’n —Stock($5,000,000 autb)
1st mortgage, gold, sinking fund.................
1st consol, mortgage, $3,500,000, g o ld .......
New 2d mort. ($5,000,000) gold. red. at 105.Ce.c
Equipment trusts June 30,1897. .......................
Duluth Miss. River A No.—1st mort., gold.C e__ c
Dul.Red Wing &So.—lstM.g.,$2O,OO0 per m.Ce.o*«fcr
Duluth South Sh.A Atlantic—Marq.H.&On.Gen.M.c*
Duluth South Shore & Atlan., 1st mort., gold, .c&r
First consol, mort., gold, interest guar.......c*<fer
lno. certs. ($3,000,000 held by C. Pac. Jan., ’ 97)
Oar trusts, Oct. 1 ,1 89 8 ..................................... ...
Duluth Transfer—1st mortgage for $2,000,000___
Dunk. Al. Val. A Pittsb.—W. & Venango 1st M., g.o
Warren & Venango, 2d mortgage.................. . . . . c
Dunkirk Warren & Pittsburg, 1st mort., gold. ..c
2d & 3d mortgages ($200,06o only are 3d M.).c
Durham A Northern By.—Stock, $500,000 auth...
First mortgage..........................................................
East Broad Top RR. A Coal—1st mortgage............r
East Mahanoy RR.—Stock..........................................
East Pennsylvaniar—Stodk 6 p.o gu.999yrs.Phil.&R.
IstM ., gold, guar. p.&i. by P .& R. RR. (end.)...o*
East St. L A Caron.—Stock (Pa. Co. owns $310,000)
East Shore Terminal—1st mortgage, g o ld ........... e*
Funded coupon scrip (lstanacdnsol. mortgages)
2d M. ($300,000), g., red. at 105 &int. any M.&S
$100
1892
1893
1898
1,000
1,000
25
156
416
572
....
1895
1888
1885
1887
1890
1892
i,ö ö ö
1.000
1,000
1,000
1,000
” 20
35
35
56
56
1891
1870
1872
1870
1872
42
....
___
36
36
....
1888
1873
1,000
1,000
1,000
1,000
1,000
100
. ...
130
130
....
1888
....
1890
1894
1892
1,000
50
50
1,000
100
1,000
Text.
1,000
u>e t r o ll JU acliin ac Sc M a r q u e tte R R . — See Miscellaneous CosD e tr o it Sc M a c k i n a c R y . - Owns from Bay City, Mich., to La
Rocque, 157 miles; Rose City Branch, 32 miles; Prescott Branch, 12
miles; Val. Branch, 26 miles; various logging branches, 67 miles; total,
294 miles. La Rocque to Onaway, Mich., 19 miles (which forms
part o f the extension to Mackinac), operated from July 1,1898. Much
o f the logging branch mileage is temporary, built only to bring out
lumber. See V. 61, p. 558. In 1897-8 carried 446,456 tons, of which
lumber and other forest Droducts furnished 88*20 per cent.
H is t o r y , E tc .—Formed in December, 1894, to succeed the Detroit
Bay City & Alpena, sold in foreclosure. “ Mortgage bonds ” for $500,OOO are reserved for betterments, etc., at not over $50,000 per year.
The stock and $750,000 “ mortgage bonds ” are held in trust, and if
deemed best may be converted into preferred stock. See V. 60, p. 130.
St o c k .—The capital stock is $3,000,000, o f w h ich $1,000,000 p re
ferred is issuable on ly fo r conversion o f bonds as above.
L a te st E a r n in g s —5 m o s .,) 1898......Gross, $202,979; net, $37,709
July 1 to Nov. 30.
S1897..... Gross, 170,328; net, 37,580
for year ending June 30,1898, in V. 67, p. 1000,
* r°88’ $481,468; net, $177,200; interest, $116,720; taxes
$6,879; miscellaneous, $2,946; bal., (surplus, for year, $53,601. In
96-7, gross, $406,682; net, $101,943: charges, $123,918; deficit,
<pZl)i/7o«
Officers .—President, J. D. Hawks of Detroit. (V. 67, p. 736,1000.)
p fD e tr o lt T o l e d o Sc M ilw a u k e e R R . —Owns Allegan to Dun
dee, Mich., 133 m iles; 1eases Allegan to Holland (from 0. & W. M in
Dec., 1897), 23 m iles; trackage (Ann Arbor Ry.), Dundee to Detroit,
23 miles, and Holland to Grand Haven (Chic. & West Mich.), 21 miles—
see V. 65, p. 1173. Connects at Teoumseh, Mich., with Detroit & Lima
North. Leased to the Cincinnati Northern from Feb. 1,1899.
Incorporated in June, 1897, to take over the Michigan Division (as
above) o f the Cincinnati Jackson & Mackinaw. Capital stock is $1.t o t mortgage for $1,500,000 of 5 p. o. bonds, dated Aug. 1,
1897. No bonds issued to April, 1898.—V. 66, p. 708,1089.
D u b u q u e Sc S io u x C ity R R . — (See Map o f Illinois Central)—
Owns 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; Cedar Falls to Minnesota State Line
(merged b y consolidation in 1896), 76 m iles; total owned, 600 miles.
Or g a n iz a tio n .— Controlled since April, 1887, by the Illinois Central
RR., which owns $9,938,600 of the $9,999,600 stock and has issued
its own bonds on the road; the only D. & S. C. bonds held by the publio
are the 7s issued under Iowa Falls & Sioux City mortgage, $2,800,000.
l e a r n i n g s .—Report
—V. 61, p. 560.
D ividends —In 1888, hi o f 1 per cent; in 1891, 2; in 1892, about
of
lp .e .; i n ’93,114 p.o.; in ’9 4 ,2 % ; i n ’95, Deo., 1 ; in 1896, 3 p. c .;in
1897, June, 1 p. c.; Deo., 1 p. o.; in 1898, June, 2 p. e.; Dec., l ^ p . o.
Stock nearly all owned by IU. Central.
D u lu t h Sc I r o n R a n g e R R . — Owns Duluth to Ely, Minn., 116
miles, with branches to Mesaba Range Mines, Fayal. etc., 65 miles. Owns
ore docks and yards on Lake Superior costing over $1,500,000
Formerly controlled by Minnesota Iron Co., but acquired with that
-company by the new Federal Steel Co. in 1898.—See V. 67, p. 578, 633,
Stock , E tc .—Stock authorized, $10,000,000, having been increased
in Nov., 1897, from $3,000,000; outstanding Jan. 1,1898, $3,000,000par $100. Land grant from Minnesota about 506,000 acres, of which
201,790 acres had been patented to it prior to April 30,1895—V 64 p
1041. The Minn. Iron Co. Oct., ’96, owned the stock and $4,500.*000’ 2d
mortgage bonds, but in 1898 $1,000,000 was returned to D. & I R
in settlement o f indebtedness due from Minn. Iron Co., and proceeds
will be used for construction o f Stewart River branch and other im
provements. (V. 66, p. 1237.) The first mort. bonds are authorized at
the rate of $25,000 per mile for construction and $7,000 for equipment.
Earnings.—Balance sheet on December 31, 1897, was given in V
-67, p. 71. For calendar year 1897, gross $2,644,539; net, $1.117805; other income, $63,771; interest, $571,600; rentals, $1.890- bal
ance, surplus, $607,886. In year ending Dec. 31,1896, gross, $1 973 $46; net, $879,426; bal., surplus over charges, $325,373; 1895 gross
$2,188,372; net, $1,202,897; other income, $17,083; interest. $290 202; rentals, $1,890; improvements, $8,239; balance, surplus, $919 64^
President, J. L. Greatsinger, Duluth.—(V. 67, p. 7 1 .)
D u l u t h M is s a b e Sc N o r th e r n R y . — Owns from Duluth to Moun
tain Iron, Minn.,77 miles; branches, 53 miles; trackage to Union Depot
Duluth, 2 miles; total, 132 miles. In September, 1893, control of this
road was obtained by the Lake Superior Consolidated Iron Mines with
a capital of $30,000,000. On June 30,1896, funded debt, including
equipment obligations, was $5,564,277.
8
Bonds.—In March, 1898. was made a new mortgage to secure $5 000,000 o f 5 per cts., of which $3,500,000 to retire then general seoond
mortgage o f 1894 and the remainder for other purposes. The mortgage
•of 1894has been discharged of record.—V. 66, p. 573.
~
E arnings .—In 1897-8, gross, $2,091,867; net, $963,931. For year
ending June 30,1897, gross, $1,586,246; net, $1,010,405; otherincome
$11,691; charges, $905,914; bal., surplus, $116,182. In 1895-6. gross’
$1,791,980; net, $1,210,635; other income, $16,525; charges, $1 320 -
$2,512,500
1, 111,000
6 g. J. & J. N. Y., Central Trust Co.
2.325.000
6 g. J. & J.
do
do
(Ï)
do
do
5 g- J. & J.
63,947
N.Y., Post, Martin & Co,
728.000
J. & J. N. Y., Chemical N. Bk.
i g - J. & J. N. Y., Central Trust Co.
500.000
1.077.000
s g- A. & O. N. Y., Nat. City Bank.
3.816.000
J. & J.
do
do
Ì g< F. & A.
15,107,000
New York or London.
3.000.
000 Î *
New York.
368,803
1.180.000
6 g. J. & J. July, ’ 95, coup, last pd.
1.000.
000
J. & D. N. Y.,N . Y. Cent.* Hud.
300.000
? * ' A. & O.
do
do
1,000,000
do
do
7 g. J. & D.
600.000
7
A. & O.
do
do
290,100 See text.
150.000
M. & N.
6
500.000
4
J. & J. Jan., ’ 85, int’st last pd.
497,750
J.& D .15
5
1,730,450
6
J. & J. Phil., Phil. & Read. Ry.
495.000
do
do
4= g. M. & S.
420.000
1,000,000
In default.
5 g- F. & A.
166,480
Text.
277.000
See text.
' 8'g. M. & 8.
Jan. 1, 1922
Jan. 1, 1923
Jan. 1, 1918
Jan. 1, 1924
Jan. 1, 1928
Apr. 1, 1925
Jan. 1, 1937
Aug. 1, 1990
Deo. 31, 1912
1903 to 190«
Jan., 1921
June 1, 1900
Oct. 1, 1900
June 1, 1900
Oct. 1, 1900
See text.
Nov., 1928
July 1, 1903
Deo. 15,’98,21«
Jan., ’ 99,3%
Mch. 1, 1958
Aug. 1, 1915
M o h .'ï,'Ï9 0 2
621; balance, deficit, $93,461. Total tonnage in 1894-95 was 1,805,255
tons, of whioh 1,704,679 was ore. Ton mile rate 0-996 cent. (V. 66.
p. 236, 573.)
„P w Jw tH M is s is s ip p i R i v e r Sc N o r th e r n R R . — Operates from
Mississippi, Minn., via Swan River, on the Duluth Superior & Western,
to Hibblng on the Duluth Missabe & Northern, 361« miles. Over the
latter road it has connection with all points on Missabe and Vermillion
£ 0 “ ranges, and over Duluth 8. & W. with Duluth. Extension
Hibbing to Dewey Lake, Minn., 15 miles, completed in January,
1899, and further extension of 10 miles proposed to Sturgeon Lake.
Capital stock authorized is $25,000 (par $100); outstanding $4,800.
The 1st mortgage is for $2,250,000.
For year ending June 30, 1898, gross, $183,990; net,
$55,708; interest on bonds, $38,240; balance, surplus for year, $17,468
In 1896-7, gross, $128,150; netL$41,729; int. on bonds, $36,400; bal.
surplus, $5,329. President, A. W. Wright, Alma, Mich.—V. 61, p. 281.
D u l u t h R e d W i n g Sc S o u th e r n R R . —Projected from Duluth
via Red Wing, Minn., and Sioux City, Iowa, to a point opposite Omaha.
Neb. In operation from Red Wing, southerly to Zumbrota, 25 miles ;
branohes, 3 miles. Stock, $375,000, of whioh $125,000 pref.; par, $100.
Inyearending June 30, 1898, gross, $78,442; net, $25,541; charges,
$22,125; balance, surplus, $3,416. In 1896-97, gross, $65,808; net,
$21,016. President, T. B. Sheldon. (V. 56, p. 403.)
D u lu t h S o u th S h o r e Sc A t l a n t ic R y . — Operates Duluth to Sault
Ste. Marie, 410 m iles; “ Soo” Junction to St. Ignace, 43 m.; other, 134
m.; total, 587 miles. Controlled by Canadian Paolflo.
Ca p it a l Sto c k .—Common stock is $12,000,000; preferred, $10,000,000; par both $100. Preferred stock is 6 per cent, non-cum. Canadian
Pacific Jan. 1,1898, owned $6,100,000 com. and $5,100,000 pref. stock,
$3,000,000 incomes and $15,107,000 consols.
B onds , &0.— Abstraot first mortgage, V. 45, p. 274.
The first consolidated mortgage of 1890 has interest at 4 per cent
guaranteed by Canadian Pacino, which Jan. 1,1898, held the entire
outstanding issue [$15,107,000] in its treasury as security for its 4 p. o.
debenture stock; consols for $4,893,000 are reserved for prior bonds
and additional amounts may be issued at $20,000 per mile o f new lines
G e n e r a l F in ances .—On June 30,1898, loans and bills payable were
$1,451,655. Of the tonnage carried in 1897-8, ores furnished 58
p. c., lumber, etc., 25 p. c.
L atest E arnings .—Jan. 1 to Dec. 3 1,12 months, gross, $1,821,807
in 1898, against $1,591,115 in 1897.
E arnings .—For year ending June 30, 1898, gross, $1,748,389; n et
$642,455; otherinoome, $21,708; interest on bonds,$859,430; taxes
etc., $49,668; balance, deficit for year, $244,935. In calendar year
1896, gross, $1,905,811; net, $671,131.
D u l u t h S u p e r i o r s W e s t e r u R y . —New Duluth to Deer River,
Minnesota, 100 miles. In 1898 acquired by and merged in the Eastern
Minnesota RR. (Great Northern Ry.), whioh purchased all the securi
ties and made it subject to its own mortgage of 1898.
D u l u t h T r a n s fe r R y . — Operates 24 miles of track. The mort gage for $2,000,000 is to the Metropolitan Trust Co. o f New Y ork,
as trustee. Interest due January 1,1896, was not paid. John E liot
Bowles was appointed receiver in September, 1896. Decree for fore
closure was obtained December 21,1896, but no date of sale fixed and
no plan prepared to July, 1898; upset price $500,000.
B o n d h o ld er s ’ C o m m itte e .—Thomas 8. Krutz, Thomas G. Hillhouse, William W. Cook of New York, C. Lippitt of Norwich, Conn.,
and John Foster of Providence. All the bonds have been deposited
with the committee.
Stoch authorizedandoutstanding,$2,000,000; par $100. The Duluth
& Superior Belt was organized to extend the system to Superior
W is—V. 62, p. 232, 27 7 589; V. 63, p. 5 0 4 ,1 1 5 9 .
D u l u t h Sc W in n ip e g R R . —See D u lu th Su p e r io r & W e s t e r n D u n k i r k A ll e g h e n y V a ll e y Sc P i t t s b u r g . — Owns from Dun
kirk, N. Y., to Titusville, Pa., 91 miles. A consolidation in 1872
of the Dunkirk Warren & Pittsburg and the Warren & Ven
ango companies. Leased for 500 years from 1873 to New
York Central & Hudson River RR., but accounts are kept separate.
Rental is interest on bonds and Ha per cent on stock. Capital, $1,300,000; par, $100. The N. Y. Central & Hudson River Co. owns $1,067,600
of the stock. For year ending June 30, 1898, gross, $224,271; net,
after deducting taxes, $ 4 2 ,'3 9 ; interest, etc., $203,500; dividends
paid ( l ^ p . c.), $19,500; deficit for year, $180,761. In year 1896-97
gross, $207,031; deficit under operating expenses and taxes, $5,340
D u r h a m Sc N o r th e r n R y . — Henderson to Durham, N. C „ 42
miles. Part of the “ Seaboard Air Line” system. Dividend in 1892-93
2 p. c., in 1895-96 2 ^ p. o.
Earnings .—For year ending June 30, 1898, gross, $79,025; net»
$23,806; interest and taxes, $10,601; dividends, 2 p. c., $5,802; bal
ance, surp. for year, $7,403. In 1896-97 gross, $63,871; net, $18,794
E a s t B r o a d T o p R R . Sc C o a l Co. ( P a .) — Owns from Mount
Union, Pa., to Woodvale, Pa., 31 miles, and leases Shade Gap, 11 miles,
and branches to mines, 3 m iles; total, 45 miles. A coal road opened
in 1874. Reported sale was denied in July, 1898. V. 67, p. 177.
January,
1899.]
RAILROAD STOCKS AND BONDS.
5 9
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g i v i n g Im m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
Bonds—PrincîINTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate Per When Where Payable and by Stocks—Last
Par
of
of
Tor explanation o f column headings, &c., Bee notes
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
M. & N. Phila. Gu. T. & 8. D. Co. Nov. 1, 1905>
$250,000
1871
East Term. A Western N. Oar.—First mortgage.......
1,500,000
100
East A West RE.—Stock $1,500,000..........................
3,447,300
100
Eastern Kentucky By.—Stock ($1,779,500 is pref.)
J. & D. Boston,Off. 52 Oliver St Deo.15,’98 l ’a
3
738,750
16
100
Eastern (N. H.)—Stock.................................................
A. & O.
3
3,000,000
Oct. 5, ’9 8 ,11«
See text.
94
100
Eel River—Stock.........................................
M. & N. N. Y ., J. P. Morgan & Co. May 1, 1941
7,417.000
1,000
5
g.
Elgin Joliet A Eastern—1st M. ($10,000,000) gold.o* 187 1891
750,000
1,000
Elmira Cortland A Northern—1st pref. M., gold..o* 120 1884
6 * A. & O. Phila., Lehigh Val. RR. Apr. 1, 1914
Apr. 1, 1914
do
do
1,250,000
1,000
5 g. A. & O.
1st mortgage, gold, guar, by Leliigh Valley — c* 120 1884
July 1, 1906
do
do
J. & J.
6
300,000
1886
Canastota Northern 1st M., guar, (see text) .......
500,000
5 g. J. & J. N. Y., Nat. Bank Com. July 1, 1924
34 1884
1,000
Elmira A Lake Ontario—Sodus Bay & 8o.—1st M., g . c
M. & N. Phila., Broad 3t. Sta. Nov. 1 ,’9 8 ,21«
5
500,000
50
Elmira A Williamsport—St’k, com., 5 p. o. ren’l, N.C. 751«
do
do
Jan.,’9 9 ,3*«%
J. & J.
7
500,000
50
Preferred stock, 7 p. o. rental, 999 yrs.,No. Cent, 751«
do
do
Jan. 1, 1910
J. & J.
6
963,000
1,000
lstm ort., convertible into common stock at par.r 751« 1860
A. & O.
do
do
Oct. 1, 2862
570,000
5
500
1863
Income bonds, 999 years to run:. . . . .................c*
New
York.
Aug. 1, 1915
F.
&
A
290,000
100
&c.
6
g.
1895
19
Erie A Central N. Y.—1st mort., gold, $800,000.. c
Q.—M. N. Y., Union Trust Co. D eo.,’98,1%%7
1,998,400
50
85
Erie A Pitts.—Stock, 7 p. c. rental,999 yrs.,PennCo.
do
do
A. & O.
Oot. 1, 1900
7
390,000
1,000
81 1870
July 1, 1940
do
do
3,368,000
1.000
31a g. J. & J.
81 1890
General mort., $4,500,000, gold, guaranteed
112,246,300
100
E r ie R a ilroa d Com pany—'Common stock...
100 58,844,000
....
Pref. stock, non cum. ($16,000,000 is 2d pref.)..
A —O ld B o n d s A ssumed—R oads Consolidj TED.
2,482,000
1,000
4 g. M. & N. N. Y., 21 Cortlandt St. May 1, 194T
N.Y. &E. 1st M.,Pierm. to Dun., ext., ’97, gold, .o’ 446 1847
do
do
Sept. 1, 1919
2,149,000
1,000
446 1879
5 g- M. & S.
2d mortgage, (extended in 1879) gold.............o’
do
do
Moh. 1, 1923
4,617,000
4iflg. M. & 8.
1,000
1853
446
3d mortgage, (extended in 1883) g o ld ...........o’
do
do
Oct. 1, 1920
A. & O.
2,926,000
1,000
465 1857
4th mortgage, (extended in 1880) gold...........c’
June 1, 1928
do
do
J.
&
D.
709,500
50Ö
&c.
4
g.
1858
465
5th mortgage (extended in 1888), gold..........c’
do
July 1, 1931
do
182,600
60 1861 200 &o.
Erie R’y .ls t M.,Buff. Br., Hornellsv. to Attica,g.c’
4 g- J. & J.
do
do
Sept. 1, 19201,000 16.891,000
7 g. M. & 8.
526 1870
1st consol, mort., $30,000,000, gold, $ & £ ...&
do
do
Sept. 1, 1920
3,699,500
7 g. M. & 8.
N. Y. L. E. & West, funded coupon bonds, gold.o’ 526 1878 500 &o.
do
do
June
1, 1916
J.
&
D.
7
2,380,000
1,000
1876
140
Bull. N. Y. & Erie, 1st M. (Buffalo to Corning..o'
do
do
July 1, 1908
1,500,000
6 g. J. & J.
67 1877 50 Ac.
Buff. & Southw., 1st M., Buff, to Jamestown, g .c’
do
do
Jan.
1,
1929
J.
&
J.
5
250,000
1,000
12 1868
Newburg & N. Y. 1st mort., extended in 1889..c’
do
do
July 1, 1900
J. & J.
7
965,000
1,000
23 1870
RAILROADS.
Stock $815.589 (par $50), of which $247,189 is 6 p. c. pref.; current
liabilities June 30,1897, $271,202.
E arnings .—Year ending June 30,1897, gross, $69,050; net, $9,169;
other income, $569; interest, etc., $23,955; bal., deficit, $14,217.—V.
67, p. 177.
B a s t O T ah a n o y B R . — Owns from East Mahanoy Juno, to Waste
House Run and branches, 15 miles. Re-leased Dec. 1, 1896, for 999
years to Little Schuylkill Nav. RR. and Coal Co. at 5 per cent on stock,
and lease assigned to Phil. & R. Ry. Of the stock $280,000 is owned
and deposited by the Reading Company under its general mortgage of
1897.
B a s t P e n n s y lv a n i a R B . — Owns Reading, Pa., to Allentown, Pa.,
35 miles; second track 18 miles; all track 71 miles. Leased for 999 years
from May 1,1869, to tbe Philadelphia & Reading RR. at a rental of 6
per cent per annum on the stock and interest on the bonds. Lease as
sumed in 1896 by the Phila. & Reading Railway Co. Of the stock
$875,000 is owned and deposited by the Reading Company under its
general mortgage of 1896.
B a s t St. L o u i s & C a r o n d e le t B y .—East St. Louis to Falling
Springs and E. Carondelet, 12 m. First 7s, $200,000 were paid in ’97.
E arnings .—For year ending December 31,1897, gross, $82,033; net
$29,791; interest, $12,020; balance, surplus, $17,771.
B a s t S h o r e T e r m i n a l C o .’ s R R . —R o ad .—Owns term inal road
in Charleston, S. C., 3 m iles double track laid with 60 p ound steel.
Company also owns 14 wharves, 30 warehouses, about 30 acres of
land, 4 o oiton compresses, etc., on the city’s water front, these being
connected by its own road with the other railroads entering the city. In
February, 1898, the interests controlling sold their holdings to C. C.
Cuyler, of Cuyler, Morgan & Co., New York, in the interest of the
Plant system and associates. Bonds have been deposited with the
Metropolitan Trust Company.
R e c e iv e r s h ip .—W. E. Huger was appointed receiver in January»
1896.—V. 62, p. 138. Stock outstanding, $1,120,000.
E arnings .—Net earnings for year ending June 30,1897, were $31,417; in 1895, $28,401. (V. 62, p. 138; V. 66, p. 425.)
B a s t T e n n e s s e e V i r g i n i a dc G e o r g ia .—See So u th ern R y . C o
B a s t T e n n e s s e e & W e s te r n N o r t h C a r o li n a R R . . — A n a r
row-gauge road from Johnson City, Tenn.,to Cranberry, N.C., 34 miles
opened in 1882. Mortgage trustee is Guarantee Trust & Safe Deposit
Co. o f Philadelphia. Stock June 30,1896, $501,900. Extension Cran
berry to LinviUe, 14 miles, is being built by a separate company and
was under construction in October, 1897.
E arnings .—For year ending June 30,1897, gross, $40,256 ; net,
2.419. In 1895-96, gross, $51,318; net, $14,139, against $9,162 in
894-95; charges, $17,711.
B a s t Sc W e s t R a i l r o a d . — Cartersville, Ga., to Pell City, Ala., 117
miles ; branches, 5 miles. Extension from Pell City to Birmingham is
projected. Formerly the East A West BB. o f Alabama, sold m foreolosure May 29,1893. (V. 56, p. 923.) The present company was incor
porated under laws of Alabama Jan. 11, 1894. No bonds issued.
As to decision in Kelly suit and proposed purchase of road by Seaboard
Air Line, see V. 66, p. 384. President, Edward Kelly, New York. In
year ending June 30,1898, gross, $116,438; net, $11,024; total deduc
tions, $61,698; balance, surplus, $1,790.—(V. 66, p. 384.»
B a s t e r n K e n t u c k y R y . —Road from Riverton to Webbville, Ky.,
36 miles. Chartered in 1866 and opened through in 1889. Stook is
common $1,697,800; preferred $1,779,500. There are no bonds. Bills
and accounts payable June 30,1897, $53,613. Earns, for year 1896-7
gross, $33,440; net, $5,881. In 1895-96, gross, $39,269; net, $4,326.
B a s te r n R R . (N . I I . ) — Owns from Portsmouth, N. H., to Seabrook
(Massachusetts State Line). 16 miles. Leased to the Eastern RR. (now
consolidated with Boston & Maine) from October 1,1878, for 60 years
and 2 months at $22,500 per year. In June, 1891, a stook dividend of 50
per cent was paid. Dividends since increase, 3 per cent per annum.
B e l R i v e r R R . — Owns from Logansport, Ind., to Butler, Ind., 94
miles. Foreclosed 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 2 1« till 1895 and 3 per cent thereafter, but in June,
1897, a decision was rendered in the Superior Court of Indiana revok
ing the charter o f the Eel River for having leased itself to a competing
line, an appeal from which was pending in July, 1898—see Wabash
item V. 64, p. 1089. Sept. 8,1897, Riohard Ruddell o f Kokomo, Ind.,
was appointed receiver, but never took possession of the property, and
dividends were paid regularly to Oct., 1898, inclusive. (V. 58, p.
716, 1110; V. 64, p. io 8q.\ V. 65, p. 462.)
E l g i n J o l i e t Sc B a s te r n R y . —(See Map)—Owns from Waukegan.
HI., on Lake Michigan, via Spaulding and Joliet, to Porter, Ind., 130
miles, and branches Normantown to Aurora, 10 miles—Walker to Cos
ter, HI.—32 miles; Hammond to Whiting, Ind., etc., 9 miles; total
main line owned, 180 miles; spurs to ooal mines, etc., 14 miles;
trackage (L. N. A. & Chicago, 9 1«; Chicago & West Indiana, 4’8; Belt
Ry. of Chicago, 2), 16 miles; side tracks and yards owned, 81 miles,
total traok operated, 291 miles. Entire capital stook owned by new
Federal Steel Co. For terms o f interchange see St o c k below. V. 67,
p. 578, 638.
Î
Organization .—An outer belt line at Chicago for transfer of freigh t
without breaking bulk. Also reaches coal fields.
Under the Federal Steel consolidation each share on payment o f
$17 50 cash receive d $87 50 preferred and $70 common o f the
Federal Steel Co. In Oct., 1898, over 90 per cent o f E. J. & E. Ry.
stock had oeen deposited. V. 67, p. 578, 633, 736.
Stock .—Stock, $6,000,000; par, $100.
B onds, E tc.—First mortgage (trustees Central Trust Co. and Augustus
L. Mason) is for $10,000,000; the balance unissued can be disposed of
for extensions, betterments, etc. Equip, notes June 30,1898, $36,846,
and loans and bills payable, $2,000.
E arnings .—5 m onths,) 1898 .........Gross, $656,806; net, $255,015'
July 1 to Nov. 30. S 1897............. Gross, 507,940; net, 137,323
Annual R eport .—Fisoal year ends June 30. Report for 1897-98
was given in Y. 67, p. 947.
Year end. June 30. 1897-98.
1896-97.
1895-96.
1894-95.
Tons carried 1 mile.218,587,896 182,853,924 193,818,870 162,252,418
Av. rate p. ton perm .
$0*0062
($0*0061
$0*0064
$0*0065
Gross earnings........ $1,390,695 $1,184,647 $1,292,420 $1,080,686
Expenses ana taxes.
901,768
772,064
846,305
730,752
Net earnings......
Interest and rentals.
Miscellaneous........
$488,927
365,921
4,778
$412,583
356,330
15,339
$446,115
345,873
23,311
$349,934
335,419
44,028
Balance.................sr.$118,228 sur.$40,914 sur.$76,931 def.$29,513
President, Samuel Spencer, N. Y. (V. 67, p. 578,633,736, 947,1263.)•
E lm ir a C o r t la n d Sc N o r th e r n R y . — (See Map Lehigh Valley.)—
Owns Elmira, N. Y., to Canastota, N. Y., 119 miles, and leases during
corporate existence, Canastota Northern, Canastota to Camden. N. Y.,
21 miles, whose first mortgage bonds are stamped guaranteed principal
and interest. Stock $2,000.000 ; par, $100.
In February, 1896,.the entire capital stook was purchased and 5 per
cent bonds guaranteed by the Lehigh Valley. Y. 62, p. 1177. Oper
ations now included in Lehigh Valley statements.
In year ending June 30,1897, rental received, $107,500; interest^
$107,500; miscellaneous, $7,639; balance, deficit, $7,639. (V. 61, p.
794; V. 62, p. 364,1177; V. 63, p. 402.)
E l m ir a Sc L a k e O n ta r io R y . —Owns from Canandaigua, N Y., tofihAmnng Junotion, 64 miles ; Sodus Point to Stanley, 34 miles ; other 2
—total, 100 miles. A consolidation in Deoember, 1886, of the Sodus Bay
& Southern and other railroads. Leased at cost of operating to the
Northern Central, which owns all the $1,500,000 stook. Lease may
be terminated on thirty days’ notice. Year ends Deo. 31.
Earninas—
Cross.
Net.
Interest,Ac.
Bal., d ef.
1897 . . . . ..........$714,616
$43,578
$64,265
$20,68fr
1896..................... 665,485
5,906
57,568
51,662
E l m ir a Sc W illia m s p o r t R y . — Owns from Williamsport, Pa., to
Elmira, N. Y., 75*2 miles. Leased to the Northern Central Railway
for 999 years from May 1,1863. The dividends on the common stock
are 5 p. o. and on the preferred 7 p. o., less taxes, making dividend on
common 4*56 per cent and on preferred 6*38 per cent. Year ending
Deo. 31,1897, gross, $1,033,541; net, $250,397; rental, $152,482. In
1896, gross, $1,014.190; net, $214,944.
E l P a s o Sc N o r th e a s te r n R R . —See N ew Mexico R y . & Co a l *
E r ie A C e n t r a l N e w Y o r k R y . — Cortlandt, N. Y., to Cinoin
natus, 19 miles; completed May, 1898. Stock, $800,000; par, $100
outstanding, (?). Bonds are subject to call at par after Aug. 1, i9 0 0
Mortgage trustee, Hamilton Trust Co., Brooklyn, N. Y. For 3 mos
ending Sept. 30, 1898, gross, $5,798; net, $1,150. President (Aug.
1898), Charles O. Scull, Baltimore, Md. (V. 66, p. 857; V. 67, p. 319.)
B r ie Sc P i t t s h u r g R R . — Owns New Castle, Pa., to Girard, Pa., 81
miles; branch, to Erie Docks, 3 miles; trackage, to Erie, 17 miles; total
operated, 101 miles. Leased to the Pennsylvania Railroad for 999
years from March 1, 1870, at a rental of 7 per cent on stock ancl
interest on the bonds, and the lease transferred to the Pennsylvania
Company. Under the general mortgage sufficient bonds are reserved
to retire prior bonds when due. The Pennsylvania RR. is purchasing
the $2,100,000 consol. 7s due July 1,1898, an issue o f its guaranteed
trust certificates having been issued in p a rtfo r this purpose.—V. 65,
p. 572; V. 66, p. 289. Gen. mort. S’as were issued July 1, 1898, to
refund consol. 7s maturing on that date, and in Sept., 1898, all the old
bonds, including the $1.000,000 gen. mort. 4s, except $390,000 equip
ment 7s, had been refunded.—V. 66, p. 1089; V. 67, p. 689.
E arnings.—The lease has been quite unprofitable to the lessees, the>
deficiency being in 1892, $206,430 ; in 1893, $188,216 ; in 1894,
$86,212; in 1895 profit $7,524; in 1896 loss $321,756; in 1897, $39,781.—V. 66, p. 289,1089; V. 67, p. 689.
B r ie R a i l r o a d . — See Map on adjoining page.—Embraces trunk
line from Jersey City, opposite New York City, to Chicago, 111., 986
miles, and branches 1,285 miles ; total, 2,271 miles ; second track, 66S
miles ; 3d and 4th tracks, 8 miles; total, 2,941 miles. The total o f
2,271 miles comprises :
6 0
INVESTORS’
SUPPLEMENT.
[Y o l.
LXYIII.J
J a n u a r y , 1899 J
RAILROAD
STOCKS
AND
BONDS
61
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g I m m e d ia te n o t ic e o f a n y e r r o r d isco ve red . In th e s e T a b le s .
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,when Due.
Miles Date Size, or Amount
of
Par Outstanding Rate Per When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Payable
Cent.
Road. Bonds Value.
on first page of tables.
iErie R ailroad —(Concluded)—
B —B o n d s on Properties Controlled by Owne RSHIP of Enti RE(*) OR A M AJORITY ({) of Oa piTAL Stock , or by (H) L ease .
A. & O. N. Y., 21 Cortlandt St. Apr. 1, 1911
6
$200,000
10 1889 $1,000
»Bergen Co. RR., 1st M..Rutb. Jo. to Ridgew. N.J.
May 1, 1982
do
do
5 g. M. & N.
1,000 12,000,000
*Ch.& Erie 1st M.,g. (Marion,0.,to Hamm’d,Ind.c* 249 1890
July 1, 1918
do
do
300,000
1,000
1888
5 g. J. & J.
Chicago & Atlantic Terminal, 1st mort., g o ld ..
Elmira,Chemung
Co.Bk
Oct. 1, 1905
A.
&
O.
160,000
7
1875
500
&o.
7
{Elmira State Line Railroad, 1st mortgage—
1928-29
Various
’88-’89
246,500
6
ffGosh. & Deck’t’n, 1st & 2d M’s.,($60,000 are 2d)
July
1, 1927
J.
&
J.
Phila.,
Fidelity
Tr.
Co.
300,000
4
^
&
6
8
1867
500
&c.
•Jeffers’n,lst&2d M’s., ex.in ’ 87&’ 89(H’dale Br.)c
2,800,000
1,000
37 1889
5 g. A. & O. N. Y., 21 Cortlandt St. Jan. 1, 1909
1st mort., Oarbondale to S. depot, gold......-.c
Oct.
1,
1935
N.Y.,J.
P.
Morgan
&
Co.
A.
&
O.
7,500,000
1885
1,000
6 g.
"Long Dock Co.con8.M.,g.(now 1st M.) (seetext)o*
1926-27
Various N. Y., 21 Cortlandt St.
170,500
5
’66-’67
f Mont. & Erie, 1st & 2d morts. ($40,500 are 2ds)
do
do
Mav
1,
1946
M.
&
N.
1,500,000
40 1896 100 &c.
5 g1JN. Y.& Greenwood L.,Prior lien M.,$1,500,000,g.
May 1, 1910
do
do
M. & N.
400,000
6
34 1880 500 &o.
{New Jersey & N. Y., 1st M. (reorganization).. .o*
1932
do
do
J.
&
J.
5
1893 500 &e.
580,500
Gen. M., $1,200,000 (red. 105 after 5 years).. .g
June 1, 1910
do
do
M. & 8.
6,000
6
1,000
2*3 1887
N..T.& N.Y. Exten. 1st M., int. gu. by N.J.& N.Y.
6 our. M. & N. N. Y., 21 Cortlandt St. May 1, 1922
1,100,000
1882
1,000
N.Y.L.E.& W.C.& RR. 1st M.,“ lawfulmoney” .o'
July 1, 1913
do
do
J.
&
J.
3,396,000
6
1883
1,000
*N. Y. L.E.& W.D.& I. Co. 1st M., see V. 56, p.82.o*
Mar. 1, 1935
do
do
8,000,000
4*ag. M. & S.
•N.Y. Pa. & Ohio, prior lien M.. gold, $ & £ — c* 431 1880 5O0, &c.
tie
&
Shen.
Valley.
NewCas
Ry.
and
RR.,
Sharon
&Mah.
Clev.
Valley
Do. Leased lines—see separate statements for
{N. Y . Susquehanna & West.—See separate state ment.
1905 & 1915
504,500 5 & 7 Various.
’52-’75 500 &Q.
{Tioga Railroad bonds. (See that company). —
C—E r ie R ailroad Company New B onds.
July
1, 1908
N.
Y.,
21
Cortlandt
St.
J.
&
J.
1,000,000
1,000
67
1895
5 g.
New 2d mort. on Buffalo & Southwest’n, gold.c*
New 1st consol. M. for $175,000,000 seourim;:—
Jan.
1, 1996
New
York
&
London.
4
g.
J.
<
fc
J.
1,000
30,000,000
1895
Prior lien bonds. $35,000,000, gold............c*&r
1,000 31.032,000
1895
4 g. J. & J. N. Y .. 21 Cortlandt St. Jan. 1, 1996
Gen. lien, $140,000,000, g. 3 % to J’ly,’98).c*&r
$63,000
Jan.
N.
Y.,
21
Cortlandt
St.
J.
&
J.
1,000 > 1,945,340 5 5
1888
N. Y. Car trust, 1888, ser. A. (guar, by D. & H .)..
Yearly to 1905
do
do
Various
\ ........
1)000
N.Y.L.E.& W. car tr.,B. to G. incl., part pd. an.o*
Yearly.
do
do
990,000
(!)
1895-6
New Erie RR. trusts (V. 63, p. 5 1 4 ).....................
1908 & 1910
London.
1,588,970
’88-’90 £100
5 g. Various
N.Y. Pa. & Ohio eq. trusts, snk. fd. 3%, dr’n at 100
Avon Geneseo & Mt. Morris and Rochester & Genes see Va lley Sto cks—See th OSE Cos.
Feb.
1, 1933
N.
Y
.,
Mercantile
Tr.
Co.
F.
&
A.
500,000
1883
1,000
19
6
g.
Eureka Springs—1st mortgage, gold....................--C
iFeb’y l . ’ 92-3 pd. 3%; ’ 93-4 none. Feb. 1, 1933
500,000
6
1883
500
2d mortgage income bonds, non-cum................
Lines owned in fee.
Miles.
Piermont, N. Y., to Dunkirk....447
Buffalo to Jamestown............... 67
Buffalo to Corning..................... 140
Other branches..........................112
Stock all * or nearly all { owned.
’ Chicago & Erie.......................IT249
•Jefferson RR..................
1T45
{N. Y. & Greenwood L. & brs.. 1T51
{New Jersey & New York— 1135
•Nypano R R ............................. ÏÏ430
{Tioga RR.................................. 58
Other lines............................... 167
Leased lines.
Miles.
Avon Gen. & Mt. Morris......... 1118
Montgomery & Erie................ 1110
Goshen & Deckertown............ 1Î12
Roch. & Genesee Valley........ ÜT8
Leased to Nypano RR.
Cleve. & Mahoning Val........... U81
New Castle & Shen. Val......... 1117
Sharon Railway....................... 1T15
Operates No. of N. J. and pur
chased control in July, ’97. U26
Other lines............................... 105
Trackage.................................. 168
Total...................................... 1,801 All lines oper. in system.. — 2,271
N. Y. Susquehanna & West .. 236
II See this company.
H istory .—On Dec. 1,1895, succeeded to the property of the old New
York Lake Erie & Western RR. Company, sold in foreclosure on Nov.
6 under its second consolidated mortgage. The new company holds in
fee or through ownership of all or practicnlly all the stock of the inde
pendent companies, the line from New York to Chicago (including the
Nypano RR. and Chicago & Erie companies) and also all branch and
subsidiary lines except a few small properties aggregating about 300
miles held under lease. The reorganization p la n of August, 1895, was
given at length in V. 61, p. 368.
In 1896 the New York & Greenwood Lake was leased per plan in V.
62, p. 233; V. 63, p. 189; the Avon Gen. & Mt. Mor. leased per plan in
V. 62, p. 319, and control of the New Jersey & New York was pur
chased, (see V. 62, p. 6b3) in all 87 miles of road. Control of Northern
RR. of N. J. was purchased in July, 1897.—V. 65, p. 151.
In January, 1898, oontrol of the N. Y. Susquehanna & Western was
obtained. The road is operated as an independent line. The acquisi
tion will save the Erie considerable double tracking—see V. 66, p. 83,
335, 573, and editorial p. 53. See Stock below.
Coal and Steamboat P roperty .—The Erie coal properties repre
sent an aggregate of 10,500 acres of anthracite, of which about
9,000 acres are held in fee; also 53,000 acres of bituminous coal
lands held in fee 14,000 acres of bituminous held under mineral
rights. Its coal tonnage in the year 1896-97 aggregated 8,731,057 out
o f the 20,122,086 tons hauled. The Union Steamboat Company has its
terminal and other properties in Buffalo and a fleet of eight lake steam
ers. See V. 63, p. 514.
Stock .—The stock is to be held by J. Pierpont Morgan, Louis Fitz
gerald and Charles Tennant, Bart., voting trustees, for five years, and
thereafter until the new first preferred stook shall have received 4 per
oent cash dividend in one year. In the meanwhile certificates of
beneficial interest are outstanding. The new company reserves the
right to redeem either class of its preferred stock at par in cash. Pro
visions of voting trust and preferred stook certificate were given in
Supplement of April, 1897, page 3.
In March, 1898, Erie pref. stock was authorized to be increased from
30,000,000 to $43,000,000, and common stock from $100,000,000 to
113,000,000, to acquire New York Susq. & Western stock.—See V.
66, p. 335, 573. The amounts listed to Oct. 12,1898, are given in
table above.
B onds.—New York & Erie first 7s for $2,482,000, due May 1,1897,
were extended for 50 years at 4 p. o., payable p. & i. in gold. V. 64, p.
180,1040. The new first consolidated mortgage is for $175,000,000
[Farmers’ Loan & Trust Co. trustee]—see a b s tr a c t of deed V. 62, p. 89
andseoures $35,000,000 prior lien bonds and $140,000,000generallien
bonds. Of the $35,000,000 prior lien bonds, $5,000,000 are to be used
for improvements.
Of the $140,000,000 general lien bonds, $91,968,000 are reserved for
the ultimate acquisition of all bonds and guaranteed stocks now left
undisturbed on various parts of the system [excepting the $1.000,000
seconds on Buffalo & Southwestern—see list V. 62, p. 89], and
$17,000,000 are reserved for new construction, betterments, additions,
etc., after 1897, under carefully guarded restrictions, not over
$1,000,000 to be used in any one year. The general lien bonds bear
interest from July 1, 1896, first coupon being January 1, 1897, at
3 per cent per annum for two years and 4 per cent thereafter.
The posftion o f the first consolidated mortgage is substantially
as follow s: It is a first lien, either by mortgage or collateral trust
[the prior lien bonds, however, preceding the general lien bonds] upon
the company’s principal coal properties, upon its water transporta
tion lines, including valuable terminal properties appurtenant thereto,
and upon a number of profitable local lines in New Jersey and near
Buffalo; it is a seeond lien upon the remaining coal properties and
upon the railroads leading to all the coal properties, upon the ter
minals at Jersey City, upon the Buffalo New York-& Erie Railroad
(the main line to Buffalo) and the Buffalo terminal properties other
than those upon which it is first lien, and upon the entire line from
Salamanca to Chicago; it is a second consolidated mortgage upon
the lines of the original Erie Ry. between Piermont and Dunkirk (446
miles.)
Real estate mortgages outstanding Sept. 30,1897, $438,700.
Old Bonds—Under the first consol, mortgage of 1895 the company
covenants to pay the interest regularly on all the old bonds in the
table that are marked with a * or a { (exoept N. J. & N. Y. bonds,)
and to take them up and pledge them with the trustee at maturity.
f
A description o f the Long Dock 6s was in March, 1894, Supplement
under N. Y. L. E. & W. The yearly rental is $450,000.
For N. T. Lake Brie A W. Coal A RR., see Supplement January,
1895.
F ixed Charges .—“ The fixed charges of the Erie System (calculated
on all bonds which will be outstanding on oompletion of the reorgan
ization) are reduced from $9,400,000 to $7,860,000 per annum (in
cluding prior lien bonds $1,176,000; undisturbed bonds and stock
$5,500,000; general lien bonds, $1,184,000) and for the first two years
after reorganization a further reduction of about $300,000 per annum
is made to an amount nearly equaled by the net earnings o f the
property in 1893-94.
G eneral F inances.—The old company was greatly hindered by
lack of capital, but this is remedied by the bond issues allowed under
the new mortgage. Control of the Northern RR. of New Jersey was
purchased in July, 1897. Control of the New York Susquehanna &
Western—which see—was acquired in 1898 through an exchange or
stock. V. 66, p. 335, 573.
Earnings.—5 months, ) 1898...Gross, $14,567,659; net, $^>375,274
July 1 to Nov. 30.
J 1897...Gross, 15,447,668; net, 4,509,867
For 3 months ending Sept. 30,1898, net, $2,683,877; ofilier inoom.©
$35,683; charges, $2,185,762, agst. $2,111,864 in ’ 9 7 ; surp., $533,798
A nnual R eport .—Fiscal year ends June 30. Report for 1897-8
Income from other sources .
DeductionsInterest on bo
Percentages due leased lines.................
Interest on car and equipment trusts.
Interest on mortgages............................
1897-98.
....$33,740,860
.... 25,438,038
1896-97.
$31,497,031
23,332,243
.... $8,302,822
209,785
203,583
8,164,788
134,312
179,201
. . . . $8,716,190
$8,478,302
.... $6,465,831
. . . . 1,077,857
304.443
213,193
20,947
$6,533,616
1,067,095
241,270
261,100
20,201
$8,126,282
... $8.032.271
$352,019
...
$633,918
; Secretary, J. A. Middleton ;
'. Wann.
D irectors.—C. H. Coster, J. J. Goodwin, Abram S. Hewitt, John G •
McCullough, D. O. Mills, Alexander E. Orr, George W. Qmntaro,
Samuel Spencer, Francis Lynde Stetson, Eben B. Thomas, J. Lowber
Welsh, Samuel E. Williamson and R. M. Gallaway.
—(V. 66, p. 83, 336, 573, 759, 953; V. 67, p. 74, 221, 4 7 7 , 5 7 6 , 614,
6 3 1 , 633, 6 3 6 , 900,1003.)
E u r e k a S p rin g e B y . — Seligman, Mo., to Eureka Springs, Ark. , 18*3
miles. Stock, $500,000; par, $100. In year ending June 3 0 ,1 8 9 8 ,
gross, $59,914; net, $30,552. In 1896-97 gross, $60,047; net, $27,413.
E v a n s v ille Sc I n d ia n a p o lis B B . — Owns Evansville to Terre
Haute, Ind. (via Worthington), 138 miles; branch 6 miles; leasesbranoh
12 miles.
H istory , E tc.—A consolidation in 1885. Of the consols $904,000
held to meet prior liens. The consols, and the bonds of 1924 are guar
anteed by Evans. & Terre Haute, which owns capital stook, $2,000,000.
L atest E arnings.—From January 1 to Dec. 31 (12 months), gross,
$312,012 in 1898; $311,352 in 1897. In year 1897, gross, $291,097.
R eport .—Fiscal year ends June 30. In 1897-8 gross, $319,811
net, $113,662; interest, taxes, etc., $174,980; bal., deficit for year
$61,318. In 1896-97, gross, $278,428; net, $68,020; interest, taxes
and rentals, $174,444; balance, deficit, $106,424. (Y. 63, p. 8 7 8 .)
E v a n s v i lle Sc B l c h m o n d B y . — See Southern I ndiana R y .
E v a n s v ille Sc T e r r e H a u t e B B . —The system includes:
Road owned and operated. Miles. Controlled—op. separately. Miles.
Evansville to Terre H aute.. 109 Evansville & IndianapolisU
Branches to Mt. Vernon, etc.
53
Evansville to Terre Haute
Evansville Belt (stock held).
5
via Worthington, etc.......... 156
Leased to other co.’ s Rock
Total in earnings................ 167
ville extension....................
23
1f See this Company.
Organization, E tc.—Formerly Evansville & Crawfordsville RR. Has
close traffic contract with Chicago & Eastern Illinois for route to Chicago.
Stock .— In May, 1895, $1,284,000 preferred non-cum. 5 p. o. non
voting stock was issued for Evansv. & Rich, bonds per Y. 60, p. 43, and
on June 30,1898, the entire issue of bonds had been so exchanged.
See annual report for 1897-8. Common stook, $4,000,000; par, $50.
Dividends
> 1881. ’ 84. ’ 85. ’86. ’ 87-’90. ’ 91. ’92. ’93. none
On common stk. 5 4 ^
5
3
4
5 y’rly 7
71T 7 1ai since.
ITAlso 5 per cent in bonds. { Also scrip dividend; see stook above.
INVESTORS’
SUPPLEMENT,
V ol. LX vili.
J a n üa r y , 1899 j
RAILROAD
STOCKS AND
RONDS.
63
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by pal,When
* or explanation o f column headings, Ac., see notes of
of
Par Outstanding
Stocks—Last
Road. Bonds Value.
on first page o f tables.
Cent. Payable
Whom.
Dividend.
Ëvansville dt Indianapolis—T. H. A Southe.lst M.c*
Evansville A Indianapolis 1st mort., gold,guar..c*
Con.M.($2,500.000)g.,gu.p.<M.(end.)Ev.<sT.H.c’'
Stvansville et T. H.—Pref. stock, non-cum.See text..
Consolidated mortgage (now 1st lien), gold........
1st consolidated mortgage, gold......................... c*
Mt. Vernon Branch mortgage, gold................... o*
•Sullivan County Coal branch mortgage, gold.. .0*
1st general mortgage for $7,000,000, gold.......c*
Evansville Terre R. <6 Ohio.—1st M., g.,int. guar..e*
2d mortgage, gold, int. guar, by Cn. & E. Ill— o*
Wall JSroofc—Stock ($500,000 is 7 per cent, pref.)...
Findlay Fort Wayne dt W. Railway—1st M. gold..c*
2d mortgage, income, non-cum., gold................. r
Fitchburg— Pref. 4 per cent stock, non-cumulative.
Bonds,$500,000 yPly/Oilto 1903 incl., bal. 1908.c*
Bonds...........................................................................
Bonds to State of Mass. 4 p. c. since Feb., 1897..
Bonds..........................................................................
Bonds ($1,500,000 due 1907, interest A. A O .)...
Bonds, not m ortgage............................................ c
Bonds, (See text.) $54,000 are 4s, not mortgage.
Bonds, not mortgage................................................
Bonds, not mortgage.............................................
Bonds, $2,750,000, all for refunding, not m ort...
Bonds. $ l ,450,000 auth. Sept., ’97. V. 65,4.463
Constitution wharf note...........................................
Troy & Boston 1st mort. (V. 53, p. 405)................
Brookline & Peppereil plain bonds, guar. (end)..
FI. dtPereMar.—Pi. stk., non-oum(for$6,500,000)..
Holly Wayne & Monroe 1st mortgage, assumed.c
Flint A PereMarq’tte mortgage 6s of 1920, gold.e
Consol. M.,(for $10,000,000) $20,000 p. m., g.o*
40
55
135
1879
1884
1886
115
144
25
30
199
49
49
100
1880
1881
1883
1890
1892
1870
1873
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
35
....
....
65
281
395
....
....
1894
1894
__
’79-’ 88
1889
1887
1890
’84-’ 87
1890
1893
1894
1895-6
1897
I f 98
1897
1874
1891
....
1871
1880
1889
$1,000
1,000
1,000
50
1,000
1,000
1,000
1,000
1,000
1,000
50
1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
$1,000
1,000
IC v a u s v llle A T e r r e H a u t e R B . - C o n c l u d e d .
$251,000
7
M. A S.
648,000
6 g. J. A J.
1,601,000
6 g. J. A J.
1,284,000
A. A O.
6 g. J. A J.
30,000
3,000,000
6 g. J. A J.
6 g. A. A O.
375,000
450,000
5 g. A. A O.
2,223,000
5 g. A. A O.
775,000
6 g. M. A N.
325,000
6 g. J. A J.
5,000,000 See text. Q.-M.31
1,200,000
5 g. J. A J.
800,000
5
Sept. 1.
16,922,875 4 in 1898 J. A J.
4,500,000
5
Various
750,000
5
M. A 8.
4
5,000,000
F. A A.
500,000
5
J. A D.
2,500,000
4
Various
4
500,000
Î. A D.
1,932,000
4-5 Semi-an
500,000
4*3 M. A N.
1,859,000
4
Semi-an
2,750,000
4
M. & S.
1,450,000
4
J. A J.
400,000
4
A. A O.
577,000
7
J. A J.
100,000
5
J. A D.
6,342,000
F. A A.
1,000,000
8
J. A J.
$3,999,000
6 g. A. A O.
•2.600,000
5 «T. M. A N.
N. Y.,Farm. L. ATr.Co.
do
do
do
do
Evansville, Ind., office.
N. Y., Farm. L. & T. Co.
do
do
do
do
do
do
do
do
N. Y., Farm. L. ATr.Co.
do
do
Office, Corning, N. Y.
None paid to Oot.. ’98.
Sept. 1, 1909
July 1, 1924
Jan. 1, 1926
Oot.15, ’98,2%
July 1, 1910
July 1, 1921
Apr. 1, 1923
Apr. 1, 1930
Apr. 1, 1942
May 1, 1900
Jan. 1, 1900
Sept. 30,1898
Jan. 1,1945
Jan. 1,1945
Boston. Office.
Jan. 16,’99,2%
do
do
Var.’99tol908
do
do
Moh. 1, 1899
do
do
Feb. 1, 1937
do
do
June 1, 1900
do
do
1904-5-7
do
do
June 1, 1920
do
do
Various, 1903
do
do
May 1, 1914
do
do
1915 A 1916
do
do
Moh. 1, 1927
do
do
Jan. 1, 1928
do
do
Apr. 20,1907
do
do
July 1, 1924
do
do
Deo. 1, 1911
East Sag., Mich., Treas.
See text.
N. Y., Merchants’ N.Bk. Jan. 1, 1901
N. Y.. Mer. Ex. Nat. Bk. Oct. 1, 1920
do
do
May 1, 1939
ferred stock was increase d from $16,498,000 to $17,000,000, and in
October. 1895, to $17,306,000.
In September, 1898, was sold $1,600,000 preferred stock, being a
portion o f the $2,037,125 held in the treasury as an investment (and
included in the $17,360,000 issued) to pay off $750,000 5s, maturing
March 1,1899, and $500,000, maturing June 1, 1900.—V. 67, p. 633.
D ividends — ) 1887 ’ 88 ’ 89 ’90 ’ 91 ’ 92 ’ 93 ’ 94 ’ 95 to Jan., ’99
On preferred. 5 2
2
0
2 3*2 4
4
3 4 p. o. yearly.
B onds, Etc .—Vermont A Mass, guaranteed securities; see that com
pany. The debenture bonds were described in Chronicle of Juno 1,
1895. V. 60, p. 967. In Sept., 1897, $1,450,000 new bonds were issued
to refund the Cheshire 6s, $550,000, due July 1,1898, taking up $500,000 note due April 5, and funding floating debt. On July 1,1898, aU
the company’s notes payable had been discharged (V. 65, p. 463.)
The $1,250,000 bonds maturing in 1899 and 1900 were provided for
in O o t, 1898, by sale of $1,600,000 preferred stock, as said above.
E arnings.—From Jan. 1 to Oot. 31 (10 months), gross, $6,055,470 in
1898; $6,005,983 in 1897. For 3 months to Sept. bO, results were:
3 mos.
Gross.
Ret.
Oth. income. lnt..tac.,ctc. Bal..sur.
1 8 9 8.. ..$1,916,513 $705,245
$19,625
$390,283
$334,587
1 8 9 7.. .. 1,982,607
728,276
17,854
385,746
360,384
A nnual R eport .—Fiscal year ends June 30. The annual report fo r
1897-98 was in V. 67, p. 686. In 1894-95 was included in netearnings
and dividends paid $143,249 dividends on treasury stock; 1897 a nd
1896 figures do not include these dividends.
Year ending June 30.
1898.
1897.
1896.
1895.
Total miles operated.......
458
458
458
458
Total gross ea rn in gs.....$7,359,470 $7,155,768 $7,606,765 $7,237,724
Netearnings..................... 2,002,867 1,916,790 1,894,895 2,035,298
259,980
259,980
259,980
264,980
Total net income.............. $515,752
$464,813
$495,458 Rentals paid.....................
$332,353 Interest on debt............... 1,027,038 1,009,049 1,001,310 1,014,084
Interest on debt..................
$337,950
$332,950
7,550
14,462
878
7,391
Taxes and miscellaneous.......
65,148
52,624
52,340 Other interest..................
Dividends.........................
605,022
603,754
595,096
681,867
Balance, surplus..................... $112,654
$79,239
$110,765
Balance,surplus........
$103.227
$29,545
$37,631
$66,976
Dividends on preferred in 1896-97 (2 p. o.), called for $25,680, leave —V. 67, p. 319. 3 6 8 , 633, 6 8 6 , 1003; V. 68, p. 129.
ing bal., surplus, for year. $53,559. Officers —President, H. 0. BarF l i n t A F e r e M a r q u e tte R R , - f See R ap.) —System includes:
low , Evansville, Ind.; Chairman of Directors, W. H. Tilford, 26 Broad
Monroe to Ludington, Mich__ 254 Palm to Grindstone, etc............ 40
way, N. Y.—(V. 65, p. I l l , 685, 7 7 5 ; V. 67, p. 30, 75, 578, 898.)
Port Huron to East Saginaw.. 90 ! Monroe to Alexis (see below ).. 19
E v a n s v i l le T e r r e H a u t e A C h ic a g o R y . — Owns from Otter
do
to Altmont (3 ft.). 34 I Total owned................................648
Creek Junction, Ind., to Danville, 111., 49 m.; leases Indiana Block Coal
do
to Sand Beaoh(3ft) 70 | T rack a g e,D etroit,etc........ 25
Road, 13 miles. On April 30,1880, leased to the Chio. A East. 111. for 14 branches to Fostoria, East
Temporary branches....... ...1 1 2
999 years; terms, $75,000 per annum and payment of all rentals and
Saginaw, etc............................ 141 | Spurs and sidings...................177
taxes. Stock, $581,370, or which $483,630 owned by Ch. A East. 111.,
The company also owns 4 steamers valued at $ 4 13,564, running from
which guar. int. on 1st and 2d mortgages. There are $150,000 inc. 6s. Ludington and Manistee to Milwaukee, etc., and forming part o f a
short
line from St. Paul to tidewater, opened in January 1897.—See V.
F a l l B r o o k R a i l w a y . — Owns from Coming, N. Y., to Antrim
Pa., 53 miles; branch to Ulysses, Pa., 40 miles; Fall Brook branch, 62, p. 455, 636, 819. The track from Port Huron to Grindstone City,
92
miles,
was changed to standard gauge in July, 1898.—V. 67, p 177.
7 miles; leases Syracuse * Geneva A Corning Ry., Coming, N. Y.,
to Geneva, N. Y., 58 miles, and branch, 6 miles; and Pine Creek Ry.,
Organization , Securities , E tc.—A reorganization after foreclosure
tokesdale Junction to Newberry Juno., Pa., 75 miles; total, 239 miles, August 18,1880. In 1889 absorbed Port Huron A Northwestern, etc.
Sto c k .—Com mon, $ 3 ,500 ,000 ; outstanding, $ 3 ,2 9 8 ,2 0 0 ; par, $ 1 0 0 .
H istory , E tc.—Formerly Corning Cowanesque A Antrim. V. 55,
p. 21. Dividends, paid quarterly since 1891, are 7 p. o. on preferred
Dividends
’ 86 ’ 87 ’ 88 ’ 89
’ 90 ’ 91 *92 ’93 none
and 6 p. c. on common. The coal line of Phila. A Reading and New On pref. since’ 85— 4 1a 5*2 12
6*a
6
3*3 4 ^ 2
sinoe.
York Central is over this line. The three companies guarantee the bonds
Bonds, E tc.—The consolidated mortgage of 1939 is a first mortgage
o f the Pine Creek RR. Co. C. O. & A. 6s $170,000 paid May, 1897.
on 123 miles of main and branch line tracks. Trustee Central Trust
E arnings .—Fiscal year ends June 30. Statement in V. 67, p. 479:
Co. PortHuron Division mortgage is for $3,500,000, of whioh $125,000
Year—
Gross.
Net.
Other inc. Int.,tax., dtc. Bal.tor div. reserved for $104,000 P. H. A N. W. 7s.
1897-8.......$649,577
$190,446
$374,521
$9,953
$555,014
In September, 1897, Toledo Division mortgage for $400,000 was
1 8 9 6 -7 ...., 630,251
187,606
.275,268
27,908
434,966
issued, covering Monroe to Alexis, 19 miles, as a purchase money
From balances given above dividends amounting to $305,000 were mortgage, and also leasehold interest Alexis to Toledo. (V. 65, p. 412.)
paid in each year, being 7 p. o. on preferred and 6 p. o. on common.— Land grant 50,890 acres unsold Jan. 1,1898. Pere Marquette Trans
<V. 6 3 ,p. 1 8 9 ,3 5 5 ,7 9 4 ; V .6 4 ,p .233,bio; V. 6 5 ,p .5 1 3 s V .6 7 ,p .4 7 9 .) portation 6s mature $20,000 Jan. 1 each year until paid, and are
F i n d l a y F o r t W a y n e A W e s te r n R a i l w a y . — Owns road in secured on steei car ferry “ Pere Marquette.” V. 66, p. 854.
operation from junction with the “ Big F ou r” at Findlay, O., to Ft.
T raffic .—In 1897 carried 2,333,324 tons, of whioh forest produots
Wayne, Ind., 82 miles. Uses Pennsylvania terminals in Ft. Wayne. furnished 25 p. e. and grain 8*63 p. c.; flour, 9*4 p. o.
H istory .—A reorganization of Findlay Ft. W. A W. RR., foreclosed
G e n e r a l F in ances .—In Dec., 1898, were sold $500,000 1st consol.
and extended to Ft. Wayne, 20 m. Stock, $2,000,000; par $100.
5s, the prooeeds of whioh practically retired the floating debt, raising
B onds.—First mortgage is $1,200,000, at $15,000 per m ile; no in total amount outstanding to $2,600,000.—V. 67, p. 1160.
terest paid to Oot., 1898. Mercantile Trust Co., N. Y., and Allen ZolL ate st E arnings .—January 1 to Nov. 30 (11 months):
11 months—
Gross.
Net.
Interest, etc.
Balance.
lars, Ft. Wayne, Ind., are trustees of both mortgages.
$719,605
$590,731 sur.$128,874
Earnings.—For year endingJune30,1898, gross, $79,699; net, $179; 1898.........................$2,781,964
673,505
588,092
sur.85,413
taxes, $10,288; no interest paid on bonds. In 1896-97, gross, $78,561; 1897.......................... 2,532,783
■deficit under operating expenses, $5,557.—(V. 60, p. 656.)
A nnual R eport .—Report for 1897 was in V. 66, p. 854.
Year
ending
Dec.
31.
1897.
1896.
1895.
1894.
F i t c h b u r g R R . — Operates from Boston Mass, to Troy, N. Y., 190
Total gross earnings..$2,791,997 $2,594,621 $2,505,705 $2,392,332
miles, with branches as shown below
Net
earn’gs
o
verta
x
’s
$738,347
$658,163
$642,200
$648,037
Lines owned—
Miles
Lines leased—
Miles.
Interest on debt........
636,576
613,323
610,248
611,12i
Boston to Fitchburg, Mass....... 50 Vermont A Mass. RR. —
101,771
44,840
31,952 sur. 36,91 g
Greenfield, Mass., to Troy, N. Y. 84
Fitchburg to Greenfield Mass 56 Bal. for year...............
Vermont to Rotterdam J o t .... 61 Other lin e s ............................... 8 —(V. 66, p. 8 5 4 ,1 1 4 0 ; V. 67, p. 177,1160,1263.)
Worcester to Bellows Falls,
F lo r e n c e A C r ip p le C r e e k R R . — (Narrow Gauge ).—Owns road
Vt., etc...................................... 90
Total system June 30,1898.458 from Florence to Cripple Creek, Col., 40 miles. Opened 8ept. 1,1894.
Various branohes......................,109 Double track.......... .....................164
Capital stock $1,000,000, par $100. Bonds are authorized at $25,000
Stock—Common stock, $7,000,000. Preferred stock is entitled to per mile. Mercantile Trust Co., N. Y., is trustee of mortgage. Fiscal
4 per cent dividends, then common and preferred receive dividends year ends June 30. In 1897-98, gross, $623,821; net, $324,918 ;
share and share alike. State of Massachusetts owns $5,000,000. As oharges, $154,132; dividends (25 p. o.), $250,000; bal., def., $79,214.
to voting powers o f stock, see V. 68, p. 129.& In year 1892-93 the pre. In 1896-7, net, $306,416.
On preferred first dividend, declared in Sept., 1896, was 2 p. e., pay
able 1 p. e. Oct. 15, 1896 and 1 p. c. April 15,18 9 7 ; Oot., ’ 97, none;
A pr., ’98, none. A 4 p. o. dividend was declared in Sept., 1898, 2 p. o.
payable Oct. 15,1898, and 2 p. c. April 1 5,1899.—V. 67, p. 578.
B onds, (G u a r a n t i e s , E tc.—Certain Evansville A Indianapolis bonds
are guaranteed. Car trust notes Deo. 31,1898, $29,869.
The Ev. A T. Haute general mortgage covers 182 miles o f road owned
and $3,500,000 of stock o f proprietary roads, having a mileage of 277
miles. Of the authorized issue $3,855,000 are held intrust to retire the
prior bonds and car trusts at maturity, the mortgage providing that
the prior liens shall be paid and not extended. Floating debt June 30,
1898, none.
General F inances.—An Important change in the directory took
place in Oct., 1893, when D. J. Mackey resigned. In 1893 4,000 acres
■of coal lands in Sullivan County, Ind., were bought. In July, 1897,
listed $127,000 general 5s, sold for equipment and old debts. The en
dorsement of the E. A T H on $325,000 Peoria, Deo. A Ev. notes was
erased in 1898. V. 67, p. 898.
Latest Earnings.—Jan. 1 to Deo. 31 (12 months), gross, $1,226,939
in 1898; $1,131,433 in 1897.
Annual R eport .—Annual meeting at Evansville third Monday in
October. Report for 1897-98 was given in V. 67, p. 89a.
Year ending June 30—
1898.
1897.
1896.
Total miles operated.............
167
167
167
Gross earnings........................... $1,218,131
$1,003,430
$1,122,797
Net earnings.............................
483,443
447,622
480,354
Other income............................
32,309
17,191
15,104
INVESTORS’
SUPPLEMENT.
[Vou
l x y iii,
January,
1819 ]
KAILROAD
STOCKS
AND
BONDS.
65
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s
RAILROADS.
Miles Date Size, or
F or explanation o f column headings, &c., see notes of
of
Par
on first page of tables.
Road. Bonds Value.
Flint dt Pere Marquette—(Concluded) —
Port Huron & Northwestern—1st mortgage......c
F. &P. M. 1st M. PortH . Div. ($3,500,000),gold.c*
Toledo Div. 1st M., $400,000, gold, I B ............. c*
Pere Marq. Transportat’n Co., gold, p. & i. guar.
Florence dt Grip. Creek—1st M., $1,000,000, gold.c*
Florida Central dt Pen.—1st M. $5,226 p. m, gold.c*
2d M. (1st on ext., 92 miles) $5,226per m., gold.c*
Consol. M., $7,800,000 ($10,000 p. m.), gold.G.o’
South Bound 1st M., gold, int. rental M e B a ..c*
Florida South.—1st M., $5,000,000, g., guar.AB.c*
Fonda Johnstown dt Gloversville—lstM.,s.f.,not dn.o*
Cons. M. for $500,000 ($300,000 res’d for 1stM.)o
Johnstown G. & Kingsboro 1st M., assumed........
CayaduttaEleo. lstM .,gu.,p.*i.,byF.J.&G.RR.,g.
F. J. & G. refunding mortgage, $700,000, gold.c*
Fort Wayne dt Jackson—Common stock.....................
Pref. stock (8 p. c.), 5*2 p. c. rental Lake Shore...
Fort Worth dt Denv. City—Pi. stk. “ stamp, ctfs.” 4%
1st mortgage, gold, $18,000 per mile................ o*
Equipment bonds (owned by Union Pacific Ry.) c
Ft. Worth dt Rio Orande—1st M.,g.(int.not reduced)
1st M., gold, old 5s, int. red............................... o*
Fulton Co. Narrow Gauge Ry.—1st M. ($500,000)..
Extension 1st mortgage ($1,000,000)....................
Gainesville Jefferson dt So.—1st M. ($161,500 end.).
2d M., gu. p. & i. (facts as to guar. end. on bonds),.
Walton Railroad, 1st mortgage...............................
Galveston Harrisb. dt S. Antonio—1stM.,g.,landgr.c*
2d mortgage, Harrisb. and Houston to San Ant.o*
West. Div. 1st M., g., SanA.toElPaso,636 m.&br.o*
2d mortgage (see remarks)................................c*
Galveston Houston dt Mend, o f 1882—1st mort........ c
216
235
19
40
575
666
780
136
248
10
26
4
98
98
455
1879
1889
1,000
1897
1,000
1897
1,000
1894
1888
i',000
1890
1,000
1893
1,000
1891
1,000
1895
1.000
1870 100 &c.
1881 100 Ac.
1893
1892
1,000
1897
1,000
100
100
100
1881
1,000
1889
1,000
146 1888
1,000
146 1888
1,000
1881
1882
55 1881 500 Ac
55 1883
1,000
10 1881
1.000
71-’80 1,000
225 1880
1,000
671 1881
1,000
671 1881
1,000
50 1883
1,000
F lo r e n c e H R . — In 1898 merged in the Atlantic Coast L. Co. of S. C
F lo r i d a C e n t r a l Sc P e n i n s u la r B B . - From Columbia, 8. C., via
Bonds —Princ i
INTEREST OR DIYIDENDS.
pal When Due.
Amount „ Rate perl When
Where Payable, and bv Stocks—Last
0 Cent. Payable
Whom.
Dividend.
1,000,000
3.000.
415.000
4.372.000
2.033.000
4.241.000
300.000
200.000
50.000
350.000
100.000
7
5 g.
5 g.
6 g.
6 g.
000 5 g.
5 g.
5 g.
5 g.
3)2-4 g.
7
6
6
6
4 *2 g.
A. A O N. Y., Mer. Ex. Nat. Bk.
A. & O
do
do
J. & J. Intern’l Tr.Co., Boston.
J. A J. N. Y., Mer. Ex. Nat. Bk.
J. & J. N. Y., Mereant Tr. Co.
J. & J. N. Y., Guar. Trust Co.
J. A J.
do
do
J. & J.
do
do
A. & O. Merc.Tr. A Dep.Co.Balt.
J. & J.
New York City.
J. & J. N.Y.,Imp.&Tra.Nat.Bk.
A. & 0.
do
do
J. A J.
A. A O.
New York.
J. A J.
New York.
436,132
2,291,416
5i* M. A S. N. Y., Farm. L. & I t . Co.
2.555.000 2 in 1898 March. N. Y., State Trust Co.
8.176.000 4 (6) g. J. A D. N. Y., Mercantile Tr.
160,000
5
M. & S.
43.000
5 g . J. & J. N.Y.. H.B.Hollins A Co.
2.880.000 3 to 4 g. J. A J.
do
do
171.000
7
M. & N.
313.000
7
J. & J.
245.000
7
J. A J.
See text.
75.000
7
J. & J.
See text.
40.000
6
J. ite J.
In default.
4.756.000
e *• F. A A. tï.Y.,8o.Pac.Co., &Bost.
1.000. 000
7
J. & D.
do
do
13,418,000
5 g• H. A N. li.Y.,So.Pac.Co.,23 B’rd
6.354.000
6
J. A J.
2,000,000
5
A. & O. N. Y., Merc. Trust Co.
Oct. 1, 1899
Apr. 1, 1939
July 1, 1937
$20,000 y ’rly
Jan. 1, 1934
July 1, 1918
Jan. 1, 1930
Jan. 1, 1948
Apr. 1, 1941
Jan. 1, 1945
July 1, 1900
Apr. 1, 1921
1913
Oct. 1, 1922
July 1, 1947
£
1
Deo. i , 19Ì1
Mch. 1, 1899
1911
1908
1910
A nnual R eport .—R eport for 1897 was in Y. 66, p. 758, showing ••
Year end. Dec. 31—
1897.
1896.
1895.
1894.
Savannah, Ga., to Jaoksonville, Fla., Tampa, Cedar Keys, etc., 940 miles Gross earnings............$1,319,830 $1,010,878 $1,086,702 $1,335.879
Of which Columbia to Savannah 135 miles, is South Bound RR.
Net overtaxes.............
414,146
201,858
209,778
287,478
14,520
8,864
9,382
2,938
H istory .—A reorganization of the Florida Rv. & Navigation Co. fore Other incom e..............
closure in 1888. v. 46, p. 289. South Bound RR. was leased for 99
From total net income, as above, in 1897 ($428,666), deduot interest
years in 1893; later its capital stock ($2,033,000) was purchased.
£5,b? ! $ 8’ $331,790; rentals, $10,000; dividend (2 p. c.) paid Mar., ’98*
Stock .—Common stock is $20,000,000, par $100; preferred, 4 per $ o l,100; balance, $35,776, from which deduot betterments, $14.411.
President, G. M. Dodge, N. Y. (Y. 64, p .l 1 3 6 ; V.66, p. 471,758,810.)
cent cumulative [ with preference as to both principal and accumulated
dividends], $4,500,000. Preferred is exchangeable for any 4 p.c. mort
F o r t W o r th Sc R io G r a n d e R y — Owns from Fort Worth, Tex.,
B onds.—June 30, 1897, oar and locomotive trusts, due vearlv to Brownwood, about 146 miles; completed in August, 1891. Mortgage
to 1900, $95,383; notes payable, $410,000. Under the con trustee is Central Trust Co., New York. Stock outstanding, $3,108,100;
solidated mortgage for $7,800,000 sufficient bonds reserved to retire par, $100; and loans and bills payable July 1,1898, $174,910.
the prior bonds at maturity. A rental equal to 5 per cent per annum
I nterest A djustmbnt . - I u May, 1897, 1st mortgage 5 per cent
on South Bound bonds is undertaken.
bondholders agreed to accept 3 per oent interest from Jan. 1, 1897, to
L atest E arnings.—January 1 to December 30 (12 months), gross Jan. 1,1902, inclusive, and 4 per cent thereafter. Old coupons will
$3,014,652 in 1898; $2,242,681 in 1897.
' 8
be held alive by trustee for benefit of bondholders. Of the $2,923,000
A nnual R eport .—Fiscal year ends June 30. Report for 1896-97 first 5s, holders o f $2,911,000 agreed to reduction—see V. 64, p. 888.
was in, V. 65, p. 1170. Preliminary report for 1897-98 in V. 67, p
E arnings.—4 months, <1898 . . . ...G ross, $190,699; net, $103,698
¿260, showed gross, on Florida Central proper, $2,299,022; net
July l to Oct. 31.
(1 8 9 7 ............Gross, 151,555; net,
65,245
$865,142; interest and taxes, $508,111; balance, surplus for year
Year ending June 30,1898, gross, $512,189; net (over taxes), $205,$357,030. On South Bound RR. (135 miles leased) in 1897-98 gross, 147;
interest
on
bonds,
$88,930;
other
interest,
$L3,187;
bal.,
surplus
$402,143; net, $88,731; interest and taxes, $120,566; balance, defloit for year, $102,980.—(V. 65, p. 463.)
fo r year, $31,835. Total surplus on entire road for 1897-93. $325.195
F u l t o n C o u n t y N a r r o w G a u g e R y — Road from Havana, 111.,
—V. 67, p. 633,1109, 1 2 6 0 ,1 3 5 8 .
to Fairview, 111., 31 m iles; leases (for 30 p. o. of gross earnings) Fulton
F l o r i d a B a s t C o a s t R y . — Owns from Jacksonville, Fla., via County Extension Ry., Fairview to Galesburg, 111., 30 miles. Capital
8 k •Augustine, to Miami, 366 m iles; branches to Palatka, San Mateo
of Fulton County Ry., $636.794; Extension Ry.. $260,900
Si, T£9>o1’ 19 miles; Atlantic & Western, Blue Springs to New Smyrna stook
«.J&RNIN? 8 —For 7ear ending June 30, 1897, gross, $42,583; net,
Fla.» 28 miles—-total 413 miles. A consolidation of several roads in $998,
against deficit of $2,333 in 1895-96; charges, $37,019.
1893 into the Jacksonville St. Augustine & Indian River, and name
changed in 1895. Road is owned by Henry M. Flagler, President, 26
G a in e s v ille J e ffe r s o n Sc S o u th e r n R R — ( N a r r o w G a u g e .)
Broadway, New York. Oct. 30, 1898, stock, $1,000,000; $6,500,000 —Road from Gainesville to Social Circle, Ga., 52 miles; Belmont
bonds issued. For year 1896-97 gross earnings $803,942; net, $216. to Jefferson, 13 miles. Stock is $242,687 common; $17,650preferred;
019, agst. $178,725 in 1895-96; charges $376,719. (V. 61, p. 112/470., par, $50; of which the Georgia RR. owns $140,000 oommonand $8,000
F l o r i d a M i d l a n d R R . — Kissimmee to Longwood, Fla., 44 miles preferred. Of the firsts, $161,500, andof the 2ds, $75,000, are endorsed
Successor in Sept., 1896, to Florida Midland Ry., which was sold in by the Georgia RR., lessee. Interest on endorsed bonds paid regularlyforeclosure Mar. 4,1896, to M. E. Bishop, of Orland, Fla. (see V. 63, p but no interest on unendorsed bonds since July 1, 1895. On March 4,
who now operates the road. Year ending June 30, 1897, gross 1897, Martin Dooly was appointed receiver. In Oct., 1893, oase was
before Supreme Court of Georgia, but not expected to be reached for
$3,316; def. under operating expenses, $1,730. (V. 63, p. 357, 458.)
several months. For year ending June 30,1897, gross, $55,750, net.
F l o r i d a S o u th e r n B B — (See Map Savannah Florida dt Western. > $16,334; interest, etc., $26.173; balance, deficit for year,$9,839—ad
Owns from Palatka, Fla., to Brooksville, Fla., 145 miles; Bartow to vanoed by Georgia RR, lessee.—V. 64, p. 516.
F ^ a Gorda,75 miles; branohes. 28; total. 248 miles. In January,
G a lv e s to n H a r r is b u r g Sc S a n A n t o n io R y — (See Map South
loDo, tne st. Joans <fe Lake Eustis Ry., 47 miles, was purchased in the
interest o f the system. The road is now part of the Plant system and Pacific.)—Owns Houston, Tex., to San Antonio, Tex., 217 m.; San An
the bonds are guaranteed, principal and interest (endorsed—see guar tonio to Rio Gr. River, 636 tn.; br’oh’s, 72 m.; leases 12 m.; total, 937m.
The company intends to apply to the Texas Legislature in 1899 for
anty in V. 62. p. 683), by the Savannah Florida A Western. The bond s
carry interest at 3*3 per oent until Jan. 1,1900, and thereafter 4 per permission to purchase the N, Y. Texas and Mexioan Ry., the Gulf
cent. For year 1896-97, gross, $309,670; deficiency under operating West. Tex. & Pacific and the Gonzales Branch RR., aggregating about
170 miles, and to increase its bonds and stock therefor.
expenses, $44,103, against $77,863 in 1895-96. (V. 63, p. 153.)
Organization , Stock , Etc.—Operated by the Southern Paciflo Com
F o n d a J o h n s t o w n Sc G lo v e r s v ille R R — Owns from Fouda
w
»
,
mi l es: leased lines, 25 miles; total, 51 miles pany, which owns $27,038,900 of the $27,093,000 stock (par, $100).
In Nov., 1893, leased Johnstown Gloversville A Kingsboro Horse RR
Bonds.—First mortgage has a sinking fund of 1 per cent, but
(now electric) for 999 years, assuming its first mort. bonds and guaran it is optional wit)- bondholders to surrender their bonds if drawn.
teeing 8 per oent on its $50,000 stock. The Cayadutta Electric RR, In 1893 holders of Western Div. 2ds agreed to oanoel claims for ac
(See Street R y . Supplement ) is leased till 1993 and its bonds have crued interest and that interest on these bonds should be paid only if
l*®1ei*
IW the Fonda J. & G., principal and interest. The earned and should be non-oumulative; this agreement had not been
8to°k is £300,0 00; par, $ io o . Refunding mortgage for $700,000, of aotually consummated to June 30,1897. Interest aooruing on these
which $100,000 were sold and balance held to retire prior bonds. In income bonds is not included in liabilities shown below. V. 58, p. 719
1896 parties interested in the New York Central entered the directory. On June 30,1897, there was due Southern Pacific Co., $1,030,227 and
For year ending June 30,1898, gross, $256,653 ; net, $95,031; other the Texas & New Orleans RR., $867,592. For status of old claims of
Income, $4,602; interest, taxes, etc., $102,940.—V. 65, p. 26, 111.
the sohool fund see V 64, p. 1137. Appeal has been taken. V. 66, p. 471.
F o r t "W ayne & J a c k s o n R R — Owns Jackson, Mich., to Fort
E arnings.—4 months, >1898........ Gross, $1,769,807; net, $523,172
July 1 to Oct. 31.
J 1897........ Gross, 1,450,759; net, 455,296
miles. On August 24, 1882, leased perpetually to
Lake Shore A Michigan Southern at a rental of $126,027, equal to 5 ^ ^Fiscal year now ends June 30, Year ending June 30,1898, gross,
per cent on the preferred stock (see V. 56, p. 812), and after 1887 any $5,002,173; net, $1,248,224; interest, $1,121,302; surplus, $126,922.
net earnings over 8 per oent on preferred stock to be paid as dividends In 1896-7, gross, $4,824,018; net, $1,388,646. (V. 66, p. 471.)
on common stock, but not exceeding 2 per cent a year.
G a lv e s to n H o u s t o n Sc H e n d e r s o n R R . o f 1 8 8 2 — Owns
F o r t W o r t h & D e n v e r C it y R y — Owns Fort Worth, Tex., to from Galveston. Texas, to Houston, Texas, 50 miles.
Vo n 6'
jn. Panhandle Ry. (Washburn to Panhandle City, Tex.,
Organization .—The M. K. A T. and International & Great North,
18 miles, sold to Atoh. T. A S. F. in April, 1898. V. 66 d 810 Owns
$200,000 stock and $200,000 of 5s of Ft. Worth A Den. Terminal Rvf have used the road lointly since December, 1895, under a contract
d\ru£°FK’ ETC*—U* P. Denver & Gulf owns a majority o f the $6,820.- providing for payment to mortgage trustee of $100,000 yearlv
interest on G. H. A H. bonds and an additional rental o f
000 (common was formerly $9,375,000) common stock; par, $100.
In readjustment of 1896, $2,555,000 of old common stock was stamped *24,000 per annum for dividends or other purposes—see V. 61, p.
1064;
V.
63, p. 697. M. K. A T. and International A Great Northern,
preferred to receive interest, if earned, at 4 per oent. V. 63, p. 1063.
«a°£ o w n 4,999 shares of G. H. A H. stock—see V. 61, p. 1013. StockD ividends .—On preferred 2 per cent on March 15,1898 (annual.)
B onds.—Finances readjusted in 1896, the 1st 6s agreeing (1) to $1,000,000 ; par, $100. For year ending Deo. 31, 1897, gross, in
Teduce interest to 4 per oent for five years from D ecem ber!, 1895; cluding $124,000 for trackage as above, $312,604; net, $160,197; in
(2) to take $312 stock for five overdue coupons and the 2 p. o. deferred terest, $100,000; balance, surplus, $60,197. (V. 65, p. 1114.)
interest.
The past-due coupons and 2 per cent due upon coupons for
G a lv e s to n L a F o r t e Sc H o u s t o n R y — Owns road from Hous
the next five years to be held in trust for the protection of the stamped ton, Texas, via La Porte, to Galveston 56 miles.
preferred stock certificate holders in case of any accident, or failure of
Receivership .—T. W. House and M, T. Jones, of Houston, Texas
the company to pay the interest as proposed. See plan Y. 63, p. 75. were
appointed receivers in 1896. In Jan., 1898, negotiations were pend
The stamped bonds” were described in V. 63, p. 1063. A b s t r a c t of ing
with C. P. Huntington. Y ear ending June 30,1897, gross eam mortgage (Mercantile Trust Co., Trustee) V. 45, p. 440.
ings
were
$173,503, Sold at Master’s sale on Oct. 6,1898, to L. J. Smith
E arnings .—11 months, 51898...... Gross, $1,331,297; net, $413,361 for $425,000.
has been confirmed, but time to complete pur ■
Jan. 1 to Nov. 30.
(18 9 7 ...... Gross, / 1.163,628; net, 374,760 chase extended Sale
to April 1,1899, and in meantime road will be op
• 6
INVESTORS’
SUPPLEMENT.
[V O L .V tiX V Iffi
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e
RAILROADS.
Miles Date Size, or AmountPar Outstanding j
of
F or explanation of column headings, &c., see notes of
Road. Bonds Value.
on first page of tables.
$536,000
1879
George's Creek dt Cumberland By. -1st M.
65,000
1878
2d mortgage.......... ............................... - - - - - - ........
100
3,842,500
Georgia dt Alabama—Common stock $15,000 p. m
100
2,650,000
Pref. stock, 6 per cent, non-cum., $10,000 p. m.
1,000
2,483,000
383 1895
1st M.,pref.,$6,500 p.m .,g.,red.atl05 aft. 5 yrs.o
1,000
2,922,000
1st mort., consoL, $10,000,000, gold (See text).c* 383 1895
(?)
1898
Ga. & Ala. Term. Co., 1st M., $1,000,000, g.p.& i
362,739
Car trusts, July, ’98, incl. interest to maturity...
1,000
5,360,000
1889
268
Georgia Carolina & Nor.—1st M. ,g., guar. M e B a . c
1,650,000
1,000
98 1896
Georgia Midl’d By.—1st M., g., $1JJ50J)00, int.gu
100
4,200,000
307
Georgia Bailroad dt Banking Co.—Stock.................
1,000,000
1,000
1897
Bonds, refunding, not mortgage, currency.. ...c
1,000
1,000,000
1880
Bonds, not mortgage, currency... . . . . . . . . . . . -c &r
500,000
1,000
1882-7
Bonds, not mort., cur., $200,000 are 5s of 87c &r
100
1,000,000
Georgia Southern dt Fla.—Com. stock, $1,000,000
100
684,000
1st pref., red. aft. June 1,1905, $684,000, 5 p. o. Text
100
1,084,000
2d pref., $1,084,000, 5 per cent............
1,000
3,534,000
285 1895
1st mortgage, gold, $4,000,000............. WleBa.c
1,000
100,000
Gettysburg dt Harrisb.—So. Mt. IstM. 1 guar, by
1,000
250,000
1882
Gettysb’ g & H. 1st M., old issue... >Phila & Rd
215,000
1,000
1891
35
Con.M. $565,000,g ........ ............. ) RR.(oldco.]
870,000
125 1894
Gila Talley Globe dt North’ n—1st mort., gold M r
246,500
1888-9
Goshen <t Deckert’n—1st & 2d M. ($60,000 are 2ds)
1,00er
300,000
1892
13
Gouvemeur dt Oswegatchie—1st M., gold, gu. P-&
100
5,730,700
Grand Bapids dt Indiana B y —Stock, $6,000,000.c
1,000
924,000
1869
335
IstM .,m ostly 1. gr.,g., s. f. (mostlygu. Pa. RR.)c
4,441,000
1,000
335 1891
1st mort., extended, gold, guar. by Pa. RR- .-.-C
1,000
3,962,000
1896
2d M., $5,000,000, g., 3 p.o. int. till Oct.2,1899.0
$200,000
32 1897 $ ........
Grand Bapids Kalkaska dt S. E.—1st m ortgage».
* 1 0 0 *22,470,531
Grand T runk H u.—Consol, stock, *23,318,309..
*
1
0
0
5,219,794
Four per cent guar, stock, *5,220,000, non-cum
*100
3,420,000
1st preference 5 per cent stock, *3,420,000—
2,530,000
*1 0 0
...»
2d preference stock, *2,530,000.........................-
i n th e s e T a b le s
Bonds—Princi
INTEREST OR DIVIDENDS.
pal,When Due.
When (Where Payable, and by Stocks—Last
Dividend.
Payable
whom.
A. & Oi N.Y Am. Coal Co., 1 B’ y Oct. 1 , 190»
Feb. 1„ 1908
Balio. „ MaryiandTr. Co.
do
do
N. Y.» C on fi Trust Co*, Oet. 1, 1945
Oct. 1, 1945
do
do
Deo. h,. 1948
New York.
1899 to 1903
New York.
N.Y. »Brown Bro.& Balt. July 1, 1929
1946
N.Y.. J. P. Morgan & Go.
Augusta; mail’d to N.Y. Jan.15,’99,.2%
N. Y., Guaranty Tr. .Go. Jan.. 1, 1922
N.Y.,Am. Ex.Bk.&Aug. Jan. 1, 1910
Ail Augusta; 6s in ,N.Y. Jan. 1, 1922
Balt. M.T*& d 'C o.&N^Y*
do
do*
Balt.M.T.&D.Co.A N.Y.
ading Company.
Phila., P. & R. office,
do
do
New York.
Now. i',’9 6 ,5%
Now. 1»’9 8 ,3%
July 1, 1945
N. Y., Winslow, L. & Co
do
do
Philadelphia, Pa.
Boston.
Oct. 1, 1899
July 1, 1941
Oet. 1, 1936
Oct. 1, 1907
None ever pd.
1893,314%
April, 1891
April, 1888
Oct. 1, 1912
Oct. 1, 1926
Nov. 1, 1924
1928-29
N.Y.,Gr’d Contestation, June 1, 1942
Deo. 31,1892, the banking department was turned over to the “ Geor
gia Railroad Bank,” a separate corporation, a majority [$198,200] o i
whose stock is held by the Georgia RR. & Banking Co.
D iv id e n d s —
) ’ 81. ’ 82. ’ 83 t o ’ 87. ’ 88. ’ 89 to J a n .,’99.
Since 1880, P. Ct. 5 9*3 10*4 10 yearly 10% 11 p. o. yearly.
Com pa ny ’ s R epo r t .—In year ending March, 31,18 9 8 , rental, ©to.,
was $600,000; dividend from bank, etc., $24,052; total, $624,052;
interest $143,000; dividends paid (11 per cent), $462,000.
E arnings .—307 miles, >1898..........Gross, $704,496; net, $224,567
July 1 to Nov. 30.—5mos, 5 1897..........Gross, 723,675; net, 214,106Railroad earns, for year ending June 30,1898, gross, $1^616,146; net»$393,028; dividends received, $62,528; rental to Ga. RR. & B. Co.*•
$600,000. In 1896-97, gross, $1,590,659; net, $451,363; dividends,
received, $107,800; total income, $559,163.—(V. 66, p. 81.)
G eorgia. S o u th e r n A F l o r id a R y . — (See Map o f Southern By.)—
Owns from Macon, Ga., to Palatka. Fla., 285 miles.
H is t o r y .—A reorganization of the Georgia S. & F. Bailroad, sold in
foreclosure April 2, 95. (Perplan in V .6 0 ,p.928; seealsoV. 5 9 ,p. 551.
Total ow ned.. ........- - - - - - 3 8 3
Total operated July 1 ,’ 98-458
STOCK.—On June 30,1897, Southern Ry. owned $103,000 of each
In Oct., 1898, the Ga. & Ala. proposed to build its own line between of the three classes of stock. V. 63, p. 29.
Meldrim & Savannah to replace trackage. V. 67, p. 788; V. 62, p. 456.
D iv id e n d s .— A. dividend of 4 p. 0. on 1st preferred w as paid Nov. 1.
Or g a n iz a t io n — In August, 1895, succeeded to the property of the 1396; in 1897, Nov., 5 p. o.; in 1898, Nov., 5 p. 0. On 2d pref. iin 1897
Savannah Amerious <& Montgomery, sold in foreclosure May 17,1895, Nov., 2 p. c.; in 1898, Nov.» 3 p. 0.
and reorganized per plan in V. 61, p. 470 ; see also V. 62, p. 502.
B onds .—Abstract of 1st mortgage of 1895 was in V. 61, p. 429. The
In Nov., 1898, the Ga. & Ala Terminal Co. was organized to pro
is for $4.000,000and covers all of the property and franchises
vide the railway with its own terminals at Savannah. The company mortgage
and
provides also that the $684,000 first preferred stock authorized
will own nearly 1,000 acres of land and one mile of water front. The
Terminal Co.’ s $300,000 stock will be owned and its bonds, $1,000,- shall constitute a lien upon the same second only to the bonds ana,
Unissued firsts are reserved for old claims for car trusts ana
000 guaranteed The terminals will be leased for 99 years upon com coupons.
for Improvements. On June 30,1898, equipment notes, $35,101.
pletion. V. 67, p. 788,956; V. 68, p. 129.
Sscurities .—First mortgage preference 5 per cent 50-year gold bonds L atest E arnings . - 5 m os.,) 1898...... .Gross, $405,251; net, $125,413
July 1 to Nov. 30.
\ 1897----- Gross, 387,263; net, 132,522
are for $4,000,000, and are not to exceed $6,500 per mile of main line.
A n nual R epo r t .—Fiscal year ends June 30. Report for 1897-8
The first mortgage consolidated 5s are limited to $9,000 per mile of
read with $6,500 additional per mile to be held by the trustee for s o e was in V. 67, p. 948, showing: Gross, $949,628; net, $295,574; other
nurpose of retiring the first mortgage preference 5s after five years at income, $4,703; interest on bonds, $177,950; balance for aiv.,
jL05 and accrued interest* Interest on tlie consols during tlie first five $112,327. In 1896-7, gross earns., $863,542; net, $272,834; interest
vaars o f their life may be met by the issue of 6 per cent 10-year certifi on bonds, $179,875.
cates of indebtedness, redeemable at the pleasure of the oompany at
O ff ic e r s .— President, Samuel Sp sneer, New York; Vice-President.
anv six-months’ interest period, but the company has never availed Wm. Cheokley Shaw, Maoon; Secretary and Treasurer, Ben G. Smith,
itself of this right, and coupons have all been paidm cash at maturity. Macon; Ass. Secretary, R. D. Lankford, N. Y .—(V. 67, p. 9 4 8 .)
(V. 63, p. 29.)
G e t t y s b u r g Sc H a r r is b u r g R R . — Carlisle to Gettysburg, Pa., 32
Ornerai . F inances.—In June, 1898, in addition to amounts given miles; branch to Round Top, Pa., 3 miles. The Reading Company owns
in table above, the company held in its treasury on present mileage, $535,000 of the $600,000 capital stook and has deposited it as part
$806,000 consols., $1,090,000 pref’d and $1,767,500 common stock.
security for its general mortgage of 1896. Car trusts inl897, $18,000.
Earnings.—5 months, > 1898........... Gross, $565,270; net, $171,615 The $100.000 South Mtn. 6s were purchased by the Reading Co. at
July 1 to Nov. 30. S1897........... Gross, 512,787; net, 170,443 maturity, Apr> 1,1898. V. 67. p. 1218. For year ending June 30,
Advance statement for year ending June 30,1898, was in V. 67, p. 1397, gross, $98,932; net, $17,692. against $27,322 in 1895-96; other
272 showing: gross. $1,226,387; net, $350,400; fixed charges and ren income, $1,314; total deductions, $34,662.
G il a V a ll e y G lo b e Sc N o r th e r n R y . — Bowie, Ariz., to Cutter,
tals’ $303,017; surplus, $47,446. In 1895-96, gross, $626,125; net,
*167.241. In 1894-95 gross, $477,035. Pres., John Skelton Williams 117 miles, all operated in Deo., 1898, and Cutter to Globe, 8 miles,
Richmond, Va.—(V. 66, p. 5 1 8 ; V. 67, p. 2 7 2 ,7 8 8 , 956; V. 63, p. 129.) under construction. Road was opened in 1894 (48 miles) and extended
G e o r g ia C a r o lin a Sc N o r th e r n R y . — Owns road Monroe, N. C. since then. Stook, $2,000,000, outstanding $1,200,000. President,
to Atlanta (Inman Park), Ga., 266 miles; completed in April, 1892. William Garland, See. and Treas., A. C. Laird, Los Angeles, Cal.
G o u v e r u e u r Sc O s w e g a t c b ie R R .—Owns from Gouvemeur to
Belongs tò “ Seaboard” system, and bonds guaranteed (by indorsemem
on each bond) by lessees, Seaboard & Roanoke and Raleigh & Gaatoi E l Yards, N. Y., 13 miles. Stock, $350,000, all owned by N. Y Cent,
RR. Cos. Mortgage abstract, V. 49, p. 239. Stock authorized, $1,750,- —which guarantees the bonds. See V. 55, p. 810 and V. 56, p. 501.
0 0 0 ; outstanding, $1,111,400 common (par $100), and $500,000 pre
G r a n d R a p id s Sc I n d ia n a R y . — ("Nee Map o f Pennsylvania RR.)
tarred, mostly owned by the lessees.
—Owns from Fort Wayne, Ind., to Mackinaw City, 367 miles- Manistee
E arnings.—For year ending June .30, 1893, gross, $856,932; net, Branch, 19; other branches, 47 miles; total owned. 433 miles; operates
$109 645. In 1898, Jan. 1 to Dec. 31 (12 months), gross, $795,886, the following roads but has not assumed the old company’ s leases
»gainst $806,322 in 1897. In 1896-97, gross, $912,680; net, $105,886. thereof: Cincinnati Richmond & Fort Wayne RR., 86 m; Traverse City
G e o r g ia M id la n d R y . — Owns road from Columbus to McDonough, RR., 26 m.; Muskegon Grand Rapids & Indiana RR.. 37 n.
History .—Successor Aug. 1, 1896, of Grand Rapids & Indiana
Ga., 98 miles. Successor April 1.1896, of the Georgia Midland & Gull
RR., sold in foreclosure Feb. 1. Leased from July 1,1896, for 99 years Railroad, foreclosed under second mortgage per p l a n in V. 63, p. 153.
to the Southern Ry. for $49,500 annual rental (being Interest on the
St o c k .—Stock, $6,000,000, of which Penn RR. Co. owns $2,644,540.
first mortgage bonds) and rental obligations on Georgia Midland Ter
B onds .—The first mortgage land grant bonds extended at 4*2 per
minai to the amount of $2,500. Capital stock is $1,000,000, owned oent
are endorsed with the guaranty of the Pennsylvania RR. Co. to
by Southern Ry. Co. (V. 62, p. 1177.) Car trusts in 1896, $9,576.
purchase the coupons as they mature, and the bond itself at maE arnings.—In year 1895-6, gross, $164,305; net, $27,321. N. D. Lan turitv. They have no lien on land grant. See guaranty V. 56, p. 649.
caster, Secretary, 10 Wall St., New Y ork.-(V . 63, p.yó/.)
Second mortgage of 1896 is for $5,000,000, bearing interest from
G e o r g ia R a i l r o a d . — Underthis name are operated the lines leased Oct 1.1896, for one year at 2 p. c.; two years at 3 p. 0. and thereafter
from the Georgia RR. & Banking Co.—which see. Report of operations at 4 p. 0. 2ds for $1,038,000 held in treasury Jan. 1,1898. Mortgage
trustees: William N. Jackson, of Indianapolis, and Commonwealth
tor year ending June 30, 1898, was given in V. 67, p. 1 2 6 0 .
G e o r g ia R a i l r o a d Sc B a n k i n g C o m p a n y .— Owns iron Title, Ins. & Trust Co„ of Phila. Real estate mortgages, $150,000.
Augusta, Ga., to Atlanta, Ga., 171 miles; branches to Washington
L ands .—In 1897sold 68,932 acres of land for $506,179. Lands un
and Athens, 58 miles; Macon & Augusta RR. (proprietaryroad),Camak sold Jan. 1,1893, about 142,113 acres.
Ga., to Macon, Ga., 74 miles; trackage, 4 miles; total, 307 miles.
) 1 8 9 8....Gross, $2,535,662 ; net, $621,063
E arnings—585 miles,
Organization .—Owns also one-half the stock of the Western Railway
5 1 8 97 ....Gross, 2,324,932; net, 595,385
Jan. 1 to Nov. 30.
o f Alabama (the Central of Georgia Railway owning the other half),
R e p o r t .—Report for 1897 was in V. 66, p. 757. In 1897 carried 1,and a 40 per oent interest in the Atlanta & West Point (which see).
422.083
tons
freight,
of
which
48 p.o. was lumber, etc., and 11 p.o. coal.
: Guarantees (jointly with Central RR. & B. Co. of Georgia) the $1,543,Year end’g Dec. 31. 1897.
1896.
1895.
1894.
000 first mortgage 4 hi per cents of Western Railway of Alabama.
430
433
436
436
In April, 1881, the railroad (307 miles) and its interest in the othei Miles op e ra te d ........
railroad companies were leased for 99 years to W. M. Wadley and Gross income. .......$ 1 ,9 7 8 ,5 6 7 $1,899,444 $2,074,841 $1,900,401
525,086
304,250
410,116
404,680
associates, for the Central o f Georgia and the Louisville & Nashville, at Net over exp’ s <&taxes
Interest charge for year 1898 about $380,000.—V. 66, p. 7 5 7 .
$600,000 per year. V. 66, p. 81.
«rated by receiver. In Nov., 1898. the Galveston Houston & Kansas
•Oity Ry. was reported formed to take over the property. V. 67. p. 955.
—(V. 67, p. 73, 529. 736,955.)
G e o r g e ’ s C re e k & C u m berlan d l i l t . —Owns road from junction
with W. va. Central Ry. at Cumberland, Md., to New Detmold mine at
t -vnaennlntr Md.. 21 miles; City Junction to junction with B. & O.
RR. i mile;" branches, 11 miles; total, 33 miles. Capital stock, $i,000,ooo’ Controlled by American Coal Co. and Maryland Coal Co. of Mary
land For 1896-97, gross, $513,870; net,. $302,205; other income,
*5 ion- interest, taxes, etc., $40,952; dividend, $130,000; balance,
surplus, $136,453. President, James A. Milholland, Cumberland, Md.
G eorgia & A la b a m a K y . - ( S e e M ap.;-O perates the shortest
lima (hy 74 miles) from Montgomery, Ala., to Savannah, Ga., etc., viz
Leased—
Miles
Road owned—
Montgomery to Lyons... .....2 6 5 Lyons to M eldrim .....................TT58
Trackage—
CoLto Albany (since Jan. 1, 97). 88
Abbeville to O dila.................... 30 Meldrim to Savannah............... 17
BONDS,
STOCKS A N D
RAILROAD
J a n u a r y , 1899.J
6 8
INVESTORS’
SUPPLEMENT.
[VOL.
LX VIII.
Subscribers w ill con fer a great favor by g iv in g Im m ed ia te notice o f a n y error discovered in these T a b les.
Bonds —Prin o
INTEREST GR DIVIDENDS.
RAILROADS.
pal,When D ne
Miles Date Size, or
Amount
Par
of
Where
Payable,
and
by
When
Stocks—Last.
of
Far explanation of column headings, &o., see notes
Outstanding Cent. Payable
Whom.
Road. Bonds Value.
Dividend.
on first page of tables.
G r a n d IVuwfc R a ilw a y —( Concluded) —
£ 1 0 0 £7,168,055
May, 1884
3d preference 4 ner cent stock, £7,168,055........
£100
1874
4,270,375
5
J.&J.14
Irredeemable
Debenture stock, £4,270,575..... ...........................
£100
12,515,678
4'
Irredeemable
Q.—J.
Consol, debenture stock (col. trust), cum ............
£100
414,300
July 1, 191»
6
1869
J. & J.
2d equipment M. (subject to 1st M. in trust). . . .c
Securities op L ines Consolidated w ith G ran d T rn n k R y .
100
2,723,080
5
F. & A.
Irredeemable
Great Western perpetual debenture stock........ o
611,100
July 1, 1902
1877
5
J. & J.
Northern Ry. 1st M. sterling 5s, £850,000.......c*
15,900
1868
6
A.
&
O.
Irredeemable
3d preference A & B bonds................................ c
347,990
4
F. & A.
London.
Irredeemable
Debenture stock, 4 p. c., perpetual, £425,850.
187,500
Aug. 1. 1903
1883 £ 1 0 0 &c
5
F. & A.
Grand Tr. Geo. Bay & L. E. IstM ., £310,200.c*<fcr
£100
458,600
1878
5
M. & N.
London,
May 1, 1908
Midland of Canada 1st M., sectional, £525,OOO.c
£100
1882
1,072,100
5
Jan. 1, 1912
J. & J.
do
Consol. 1st M., £3,164,700................................ c
5
101,100
1882 £100 & C
Jan. 1, 1902
J. & J.
Montreal & Champlain Juno. 1st M., £172,600..
£100
100,000 Varies. J. & J. N.Y.Bk.of Com."& LoncL July 1. 1901
1874
Wellington Grey & Bruce 1st M., £532,000...... c
$100 c72,756,500 6 1* in ’98 Q —F. N. Y. Office, 27 Pine St. Feb.l>99.1%%
G t. N o r th e r n —Stock, to be $75,000,000. See text
100
Cl,794,800
6
Q.—F.
do
do
Feb. 1, ’99, l^a
St. Paul Minn. & Man.—Stock,orig. $20,000,000.
1,000
8 ,000,000
6 g. A. & O. New York and London. Oot. 1, 1909
St.P.M.& M.2d (now 1st M.)g. does not cov. l’ds)o* 624 1879
5,676,000
1,000
6 g. M. & N. New York, 27 Pine St. Nov. 1, 1910
Dakota Extension IstM ., gold..................... ...o* 1,221 1880
1,000
13,344,000
do
do
July 1, 1933
6 g. J. & J.
Consol. M., 1. gr. (now 1st M. on lands) g old ... 2,655 1883
1,000
22,093,000
do
do
July 1, 1933
4 1ag. J. & J.
2,655 1883
Do
do
do
do
4 g. J. & D.
June 1, 1937
420 1887 l.OOO&o a7,907,000
J. & J. N.Y. & Lon., Baring Bros July 1, 1940
819 1890 £ 1 0 0 &0 b £ 3,000,000
$
1,000
$2,800,000
5
&
6
g.
J.
&
J.
New
York,
27
Pine
St.
July 1, 1922
1882
Minneap. U n .R R .lst M.,g.,gu. ($650,000 are 5s).c*
A. & O. N.Y.27Pine; Bos.,Lee,H Apr. 1, *28-48
72 1888 l.OOO&o 4,700,000
4
do
do
A. & O
1928-1948.
299 1898 l.OOO&c d5,000,000
256 1887 l.OOO&c 9,300,000 5 & 6 g. J. & J New York, 27 Pine St. July 1, 1937
1.000
3,646,000
J.
&
D
do
do
June
1, 1938
1888
205
5 g1,000
500,000
5 g. J. & J N.Y.&Lon., BaringBros July 1, 1911
Minneapolis Western 1st mort., gold, guar.......o'
234,990
To
FeD.1,1906
—
Duluth Superior & West, car trusts, assumed....
aall.üVÄ.UUU auumunai uiougt-u
a oiuuu jjAuuuoxuu ~
w Ô
7/ i------------ ; in January, 1899, was being increased
from $.*0.000.* 00 t,o $75.000.000 to retire $20,000,000 stock of St. Paul Minneapolis & Manitoba._____ d Subject to call after April 1,1928.
I:
G r a n d T r u n k : R y . o f C a n a d a .—Operates from Quebec, Can., amount outstanding to $72,756,500, and leaving not over $1,794,800.
o f the Manitoba stock unexchanged.—(V. 68 , p. 129; V. 67, p. 1356;
via Montreal, to Chicago, 111.; also to Portland, Buffalo, Detroit, etc.;
V. 67, p. 370, 788, 842.)
SY ST E M P R O P E R .
REPORTED SEPARATELY.
L ands.—Land sales in April, 1897, had retired all the 1st mort. bonds
Miles. I Majority Stock Owned.
MWCSt
Lines ow n ed.............. ................... 8,08! I Chicago & Grand T ru n k !............... 33g and were then applicable to consol mort. of 1883.
Leased—partly owned—
I Cincin. Sag. & Mackinaw................. oS
Sales for year ending June 30,1898, were 120,452 acres for $883,A tlantic & St. Lawrence, P ortEntire stock owned.
145 and 344 town lots for $16,503. The net amount due on land con
land. Me., to Island Pond, Y t . .. 150 I Detroit Grand H aven & M ill...... 189 tracts June 30, 1898, was $1,605,626; lands unsold, 1,308,483 acres.
Buffalo & Lake Huron..................... 102 Michigan A ir Line..........................• 100
Minneapolis & St. Cloud grant was 476,864 acres; unsold Julv 1,
Other lines................... .................... 105 ■ _ , ,
__
, , 0„ 0
.
------- I
Total road Jan. 1,1898......... .. .4,180 1898,405,695 acres; sales in 1897-98 were 2,831 acres for $19,532.
Total in earnings.................... .3,506 | !S ee separate statement this Co.
D ividends , ) 1890 1891 1892 to 1896 (inclusive), 1897 1898
O r g a n iz a tio n .—A consolidation, in Aug., 1882, of the Grand Trunk Great No. pfd.% s 1
4%
5 p. c. yearly (Q-F.)
5Lj
64*
and Great Western railways. In Jan., 1888, absorbed the Northern
On Great Northern preferred in 1898, Feb., Ha p. 0.; May, l ^ p. 0 .:
and Hamilton & Northwestern railways and in 1892-93 still other lines. Aug., lifl p. o., Nov., 1-h p. o. Also in 1898 the stockholders received 50
Stock , E tc.—The authorized capital on June 30,1898, was £41,- per cent in Seattle & Montana stock, which they were allowed to e x
656,364 stock (£40,813,834 issued and £842,530 unissued), advances change for 40 p. c. in Great Northern preferred. V. 66 , p. 1044, 1188
from the Canadian Government in aid of construction amount to In 1899, Feb., 1% p o.
£3,111,500. Perpetual consolidated 4 per cent debenture stock,
B onds.—The collateral trust bonds for $15,000,000, secured by £3,authorized by A ct of 1882 and later Acts, has been issued from 000,000 Pacific Extension 4s of the St. Paul Minn. & Manitoba Ry. Co.,
time to time to acquire securities and interest-bearing obligations of were redeemed Sept. 1,1898. V. 66 , p. 1044; V. 67, p. 796.
the Grand Trunk, companies now consolidated and these controlled,
The St. Paul Min. & Man. consol, mort. of 1883 is for $50,000,000, of
amounting June 30,1898, to £9,868,201, and bearing an annual inter which bonds are reserved to pay prior liens. It is a first lien on
the land grant and on 670 miles of railway in Minnesota and a
est of £375,343.
E arnings —3,518 m iles.) 1898..Gross, $17,777,480; net, $6,204,842 second lien on the remaining 1,873 miles in Minnesota and the Dako
Jan. 1 to Nov. 30.
5 1897..Gross, 17,687,725; net, 6,088,748 tas, the prior liens on which average only $7,300 per mile. V. 64,
p. 518. Montana Extension mortgage is for $25,000,000 for extensions
Tears ending D ee. 31.
1897.
1896.
1895.
and for second traok. A b s t r a c i V. 45, p. 342.
£3,787,285
£3,637,055
Gross earnings...................... £3,969,642
Pacific extension mortgage for £6,000,000 (trustee of mortgage Cen
Transportation expenses__ 2,597,372
2,681,879
2,610,862 tral 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
£1,026,193 of this
£1,105,406
Net earnings......................£1,372,270
issue, in addition to those given in the table above, were pledged
177,982 to secure
182,673
Other income..........................
202,361
the Great Northern’s collateral trust bonds, but were released
upon
payment
of the latter, called for redemption on Sept. 1, 1898.
£1,204,175 V. 66 , p. 1044,1188.
£1,287.079
Net in com e.......................£1,574,631
See a b s t r a c t of mortgage, V. 52, p. 82.
146,349
146,350
Rentals.....................................
146,349
Eastern Railway o f Minnesota runs from Hinckley northward 70
995,138 miles,
1,004,649
Interest on b’ds and deb. stk. 1,028,510
to a point near Duluth; the first mortgage covers road, equipment,
terminals and elevators. The Northern D iv $15,000,000 mortgage
Balance............................. sr.£399,771
sr£136.080
sr.£62,687 of 1898 provides for extension building from Fosston, Minn.,
President, Sir 0. Rivers Wilson, London, England.—V. 68 , p. 129.
to the head of lake navigation at Duluth, and also for future require
G r e a t N o r t h e r n R y . —(See M ap.)—Operates a low-grade trunkline ments, including the retirement o f the $4,700,0 001st 5s at maturity.
extending from St. Paul, Minn., across the great wheat belt of the Red They are redeemable at 105 on three months’ notice after Apr. 1,1928.
River Valley and across the State of Montana, tapping its silver and —V. 66 , p. 471. M ontana Central bonds cover several roads. (See adv.
copper mining district, to the Pacific Coast at Spokane, Wash., Port Chron. Deo. 12, 1891.) The Manitoba guarantees these issues, and
land, Ore., Westminster, British Columbia, etc. From Duluth, the head the Great Northern assumes the guaranty.
The W illmar <6 Sioux Falls bonds are endorsed with joint and several
o f navigation on the Great Lakes, the steamers of the Northern Steam,
ship Co. (whose $1,500,000 stock is owned) run east .to Buffalo, N. Y. guaranty of the Manitoba and Great Northern companies. Further
issues may be made at $17,500 p. m. for additional road. V. 56, p. 247.
L in es leased and operated —
Eastern Ry. of Minnesota—
M inneapolis Western first mortgage is for $1,000,000. Y. 60, p. 835.
Hinckley to Duluth.............
72
St. Paul Minn. & Man. Ry.,
G eneral Finances.—The preferred stock was increased in 1898-9
New Duluth to Deer River. 100
St. Paul to Lowell, Wash...1,790
from $25,000,000 to $75,0.00,000-see above and V. 66 , p. 1188; V. 67,
Branches in Minnesota, the
Montana C entralDakotas and M ontana___.2,024
Great Falls to Butte, etc... 261 p. 370, 788, 842,1003,1356.
As to new steamship lines to Japan, see V. 63, p. 153,189,402; V.
Trackage to Spokane, etc. . . .
10 Owned, unbonded —oper. sep't'ly —
In year 1897-98 the Great Northern received
Seattle & Montana RR.—
> - Q 59, p. 152, 191.
$500.000
(10 p. 0.), in 1896-7, $600,000 (being 12 p. 0.) and in 1895-6, 8
Seattle to Westminster....... s
Total operated directly ..3,824
per cent, in dividends on Eastern Ry. of Minn, stock. As to new East
Stock owned —oper. separately —
Willmar & Sioux Falls—
Total road July, 1898___4,698 ern Railway mortgage authorized in 1898, see above.
The strength of the oompany is largely in its low grades and con
Willmar to Yankton, 8 . D .. 205 2d and 3d traok and sidings. 736
East. Minn, exten., building. 130 sequent large train loads (in 1897-98 averaging 316 tons).
Duluth Watertown & Paoifio—
Watertown to Huron, Dak.
70 Spokane Falls & Northern... 218
E arnings.—Great North’n system (inol. St. P. M. & M., East, of MinnMinneapolis Union Ry., etc..
6
and Montana Central) Jan. 1 to Deo. 31,18 9 8 ,1 2 months gross, $24,
061,024
against $20,747,425 in 1897.
In June, 1898, the East. Ry. of Minn, acquired Duluth Sup. & West.
A nnual R eport .—Fiscal year ends June 30. Annual meeting is held
RR., New Duluth to Deer River, Minn., 100 miles, which win be used
toform part of extension of Gt. North, main line building in 1898 at St. Paul on the second Thursday in September. The annual re
between Fosston and Duluth, 230 miles. V. 67, p. 28, 796. The Spok port for 1897-98 was published in full in Y. 67, p. 785,796. See also
ane Falls & Northern was acquired in 1898. V- 67, p. 30,179, 797.
p. 821.
(1.) OPERATIONS great northern SYSTEM PBOPER.
Stock , L eases, E tc.—This corporation in February, 1890, leased the
Year end. June 30.
1898.
1897.
1896.
St. Paul Minneapolis & Manitoba for 999 years, assuming its funded
4,466
4,415
4,374
debt and guaranteeing 6 p.o. per annum in gold on its $ 20 ,000,000 stock. Av. miles operated.........
Gross
earnings........................$22,577,544
$19,436,061
$19,612,563
Great Northern issued its $20,000,000 preferred 6 p. 0. non-cumulative
11,304,520
10,863,545
stock to Manitoba stockholders at 50, the remaining 50 p. c. being paid Oper. expenses and ta x e s.... 11,555,645
by a transfer of all the securities owned by the Manitoba Company,
3,131,541
amounting to over $22,000,000. The securities acquired by the Great Net earnings............................ $11,021,899
51*18
58*16
Northern were put in trust to secure unity of system. (See V. 49, p. 435.) P.o. of exp. & taxes.................
(2) GREAT NORTHERN RAILROAD INCOME ACCOUNT,
In 1893 $5,000,000 preferred was sold to pay for equipment, ter
Year ending June 30.
1898.
minals, etc. In 1898 $25,000,000 new preferred, raising the total capi
1897.
tal stock to $50,000,000, was offered to stockholders, $15,000,000 of Net earns. St. P. M. & M an... $3,737,166
$6,318,445
this being sold at par to provide for retirement of $15,000,000 col. interest op bonds ow ned.......
69,418
95,823
tr. 4s of 1892, called for redemption Sept. 1, 1898, and $10,000,000 Dividends on stocks owned... 1,259,357
1,000,548
419,844
being exchanged for the $12,500,000 stook of the Seattle & Montana Profit on Treas. seour. sold .
RR., which in June, 1898, was declared distributable as a 50 per cent Rentals of leased lines............
16 4.416
187,256
220,254
dividend. V. 66 , p. 1044, 1188; V. 67, p. 796.
73,557
Interest and exchange............
164,359
In October, 1898, the stockholders surrendered the right to issue Bills receivable......................
15,919
15,838
50,176
$20,000,000 common stock in addition to the $50,000,000 preferred Other in com e..........................
388,151
148,530
74,887
then outstanding, making all the stock “ of a single class, with uniform
rights and privileges.” They also authorized the purchase of the $20,Total receipts.................... $11,218,630
$7,837,997
$7,675,562
000,000 of guaranteed 6 per cent stock of the St. Paul Minneapolis & Paid rental St. P. M. & Man. 5,396,863
5,380,729
5,383,016
Manitoba, on the basis o f $125 Great Northern stock for each $100 Great Northern dividends___(5)1,500,000 (5)1,250,000 (5)1,250,000
Manitoba stock, with a view to consolidating fhe properties of the Renewal, etc , funds............... 2,250,000
w o companies. This w ill increase the Great Northern stock to $75,00,000. In Jan. $22,756,500 of the increased stock, raising the Balance.................................. sr.$2,071,767 sr.$l,207,268 sr.$l,042,546
BONDS
AND
STOCKS
RAILROAD
J a n u a r y , 1899.]
90
INVESTORS’
SUPPLEMENT,
[V o i. LXVIII.
Bonds—Prinr iINTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due
Miles Date Size, or
Amount
Stocks—Laf-t
Par
When
Where
Payable,
and
by
Rate
per
of
For explanation o f column headings, &c., see notes of
Outstanding Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
Qreen B a y <£ Western R R .—
Stock, dividends after 2*2 p. c. on Class A, d eb ...
Debentures, Class A, Incomes, text, non-cum..c*
First mortgage..........................................................
....
1896
1896
8
1872
1893
Gulf Beaum ont <SK. O'.—1st M., $10,000 p.m., gold.c
75
62
G u lf <&Interstate Ry. o f Texas -1 s t mortgage, gold.
Q u lf & Ship Isla n d —1st M., $5,000,000, gold M a .c
75
1895
1897
Consol. M. ($400,000) gold, redeemable at 105 ...
22
1891
Consol, mortgage, now 1st mortgage................ e*
289
1st mortgage (ext’d in 1883), guar.p.&i.Pa. RR..r
Hartford <t Connecticut Western —Stock....................
ls€ mortgage.............................................................
H ibernia M ine R R .—Stock.........................................
54
54
109
109
4k
1881
1894
Hairrisb. Portsm’ th Mt. Joy A Lane. —Stock,7p. e.gu.
1st mortgage, $250,000, gold... ......................O B
Hannibal <t St. Joseph —Common...............................
500
500
100
100
100
1,000
100
100
1,000
10,000
50
1853 500 &o.
....
1883
....
24*2
1892
1st M., $500,000, g „ $23,000 cancelled by 8. f .c*
22
1893
1 st mortgage, gold U n ....................................... 0*
H ousl.d Tex. O.RR .—State of Tex. pr. lien 1st 75 m.
192
75
453
453
453
1st M.l.gr.,g.,red.llO,int.gu., $987.000 paid..e*&r
Con.M.,I.g.,g.,red.at 110,int. gu.,$464,000 pd.o*<fcr
Gen. M.,gold,lnt.guar.,end.,$8,000 paid.Mpc*<fcr
Deben., p. and i. gu. So. Pac.. end., currency.c*&r
New bonds for Waco & N. w .................................. 1 . . . .
$100
1,000
1,000
100
1893
1870
1890
1890
1890
1897
1899 1
100
1,000
100
100
1,000
100
1,000
1,000
1,00 V
1,000
1,000
1,000
.........
$2,500,000 liflFb’99
€00,000 2hjFb’ 99
7,000,000
200,000
200,000
750,000
400,000
900,000
1,050,000
350,000
325,000
9,168,700
5,083,200
8 ,000,000
90,000
1,182,550
700,000
2,707,700
700,000
200.000
Feb.
Feb.
N. Y. of., 40 Wall.
do
do
do
do
6
J. & D. D.L.&W.off.26Exch. PI.
7
J. & D.
do
do
6 g. F. & A. Boston, 12 Pearl St.
3% in ’97
Ripley, Miss.
5 g. J. & D.
New York.
5 g. J. & J.
See text.
New York City.
5 g- J. & J. N. Y., Nat. City Bank.
See text. Deo’ber.
Boston Office.
See text.
do
6
M. & S. N.Y ., Bk. of No. America.
250,000 2 in
176.000
600.000
477,000
1.920.000
2.700.000
See text.
7,077,000
3,455,000
4,297,000
550,000
(Î)
6
7
4
2
5
6
J. & J.
J. & J.
F &A.31
J. & J.
A. & O.
1898
5 g. M. & S.
9
Mch, ’ 95
5 g. J. & J.
Feb.’ 15,’99,11«
Feb.15,’99,21«
Dec., 1898,3%
Dec. 1, 1902
Aug. 1, 1913
D ec.,’98,
Deo., 1925
1927
Sept. 1,’97, 5%
Jan. 1, 1931
Dec. 31,1895
June 30’97,3%
Meh. 1, 1911
Mar. 1, 1911
Phila., Company’s Office Jan.,’ 99,3!«%
July 1, 1913
do do
Feb., ’99, 1%
Hartford.
do
July 1, 1903
See Central of N. J.
Oct., ’ 98, 3%
Dec.31.’98,2%
Bost.,01d Colony Tr.Co. Sept. 1, 1922
(1)
Mer. L. & Tr. Co., Chic. July 1, 1943
5 g. M. & N. New York, Blair & Go.
6
Houston, Texas.
5 g. J. & J. N. Y., Central Trust Co.
A.
&
O.
do
do
6 g.
do
do
4 g. A. & O.
A. & O.
do
do
5
May 1, 1933
Annually.
July 1, 1937
Oct. 1, 1912
Apr. 1,1921
Oct. 1, 1902
H a n n ib a l Sc St. J osep h H i t .—Owns Hannibal, Mo., to St. Jos
eph, Mo., 206 miles; branches—Cameron to Kansas City, 54 miles: St.
Joseph to Atchison, Kan.,22 miles; Palmyra to Quinoy, 111.,etc.,15 miles,
total operated, 297 miles ; o f this 8 miles leased and operated jointly
with other companies. Owns bridge at Kansas City.
S t o c k . — Chic. Burl. & Quinoy owns $14,245,000 stock. Preferred en
titled to 7 p. e. non-cumulative; then common to 7; then both share.
D ividends .— ) ’90. ’ 91. ’92. ’ 93. ’94. ’95. ’96. 6mos.’97. ’ 97-8*
Tot. Ry. sys. proper$22,577,544 $11,021,897 $1,490,356 $12,512,253 Common, p. c.. > 0
0
0-7 2’3 2’2
7
0
0
0-95
Minneapolis Union....
227,420
182,313
19
182,332 Preferred, p. c. ) abt. 2 6*82 7
7 7
7 6 54
3
7
Minneapolis Western*
66,489
37,545
8,643
46,189
See description o f mortgage lien in October, 1896, Supplement , p. 2
Duluth Terminal.......
36,164
13,500
............
13,500
E arnings.—For year ending June 30,1898, gross, $2,949,159; net,
SS., coal & expr’s cos 2,113,576
296,926
24,696
321,621
$932,360; other income, $10,636; interest, etc., $495,013; dividends,
Tot. for thesystem.$25,021,193 $11,552,181 $1,523,714 $13,075,895 $447,983; balance, surplus for year, $5,070. In calendar years sur
plus for dividends: 1896, $332,887; in 1895, $507,552; 1894, $592,558
From this last result ($13,075,'-95) are payable the total interest
H arrisb u rg P o rtsm o u th M t. J o y Sc Lancaster K K .—Owns
charge of all the companies. $5,310,663, ana the guaranteed dividend® from Dillerville, Pa., to Harrisburg, Pa., 36 m iles; branoh, Middletown*
on St. Paul Minneapolis & Manitoba stock, $1,200,000, a total of Pa., to Columbia, Pa., 18 miles; total operated, 54 miles. Leased to the
$6,510,663, leaving a balance of $6,565,232, from which have been Pennsylvania RR. Co. for 999 years from January 1, 1861, the rental
aid dividends aggregating $1,500.000 on the stock of the Great being 7 per cent on the stock and Interest on the bonds, taxes and ex
orthem Ry. Co., and $2,250,000 was set aside for renewal funds.— penses of organization. Stock, $1,182,550; par $50.
V. 67, p. 274, 370, 7 8 5 , 788, 7 9 6 , 821, 842, 1003, 1055, 1263, 1356;
H artfo rd Sc C onnecticut W e ste rn B y .—Owns from Hartford
V. 68 , p. 129.)
Conn., to Rhineoliff, N. Y., 109 miles. Leased till August, 1940, to the
Green B a y Sc W estern B y Road owned from Green Bay, Wis. Philadelphia Reading & New England, the rental paying charges and
to Marshland,Wis., 209 miles; branches, 13 m.; trackage to Winona, 4 m 2 per cent per annum on the stock. There are $20,500 Conn. West. RR.
H istory .—A reorganization June 5,1896 (per plan in V. 61, p. 471). 7 per cent bonds due 1900. Of the stock $1,390,OOOis owned by lessee.
H ib e rn ia m in e R R .- O w n s from Rookaway, N. J., to Hibernia
of the Green Bay Winona & St. Paul, sold in foreclosure May 12,1896,
Securities . —There are no fixed charges on the property other than Mines, N. J ., 4 ^ m. Leased to Cent, of N. J. in 1890 for $12,000 per anH o o sa c T u n n e l Sc W ilm in g to n R R . —N arrow G auge .—
taxes, nor can any be placed thereon, or the property be sold or leased
without consent of 75 per cent of stock. Class A debentures are en Owns road from Hoasac Tunnel, Mass., to Wilmington, Vt., 24*2 miles.
titled to 2 L} per cent interest, if earned, then common stock to 2 Lj p.c., Bills payable June 30, 1898, $ 77 ,6 v*l. Bonds in treasury, $74,000
then the two share ratably; but after 5 per cent has been paid on both, Earnings for year 1897-98, gross, $54,569; net, $21,185; charges
class B bonds are entitled to all surplus earnings. See V. 61, p. 471. $14,066; dividends (2 p. o.), $5,000. In 1894-95 dividends, 1 p. c.; in
Dividend o f 2 ^ p. c. was paid on class A Feb. 15,1898, “ out of the 1896, Dec., 1 p. c.; in 1897, Dec. 31, 2 p. c.; in 1898, Dec. 31, 2 p. o.
net earnings for the year 1897.” (V. 66 , p. 288.) On Feb. 15,1899,
H o t Springs R R . - Road from Malvern to H ot Springs, Ark., 22
2*2 p. c. was paid on series A and also first dividend, 1*2 p. c., on com miles, opened in 1875. Mortgage trustee, Merchants’ L. & T. Co.*
mon stock. V. 68 , p. 85.
Chicago. Year ending Deo. 31, 1897, gross, $140,055; net, $33,672 ;
Earns .—Passenger. Freight.
Oross.
Net.
Charges. B al.,sur. nterest, $24,050; bal., sur., $33,673. In 1894 gross, $182,445.
1896-7...... $104.883 $311,689 $419,759 $77,«45 $72,146 $5,799
H o u sto n B ast Sc W e s t T ex a s B y .—Owns from Houston, Texas*
1895-6....... 98,488
299,328
401,626
95,694
......................... to Sabine River at Logansport, 192 miles, where it connects with the
D irectors .—S. S. Palmer,Pres.; Mark T. Cox,Sec. and Treas., 40 Wall Houston & Shreveport RR., Logansport to Shreveport, 40 miles, form
Street, N.Y.; C. Ledyard Blair, J. A. Jordan, W. J. Hunt. (Y. 68 , p. 85.) ing a direct line from Houston, Tex., to Shreveport, La., 232 miles.
B onds, E tc.— Reorganized in August, 1896, without foreclos
Greene R B . » Owns road from Chenango Forks to Greene, N. Y.,
8 miles. Leased to Delaware Lack.W. for term of charter for 6 per cent ure. Bonds reduced from $3,840,000 to $2,112,000; authorized issue
limited
to $3,000.000; $888,000 bonds were reserved for betterments,,
o a stock and interest on bonds. Capital stock, $200,000; par, $10.
improvements, etc. Stock outstanding, $1,920,000.
G u adalu p e "Valley R R . - Projected from O’Connorsport north
Latest E arnings.—Nine months ending March 3 1;
toward Austin and San Antonio, Tex., about 350 miles. In Oct., 1S98,
9 months— Oross.
Net.
Taxes, etc. Interest. B al., su r *
about 50 miles reported to be graded. In Jan., 1899, the company 1897-8........... $523,161
$173,235
$12,365
$92,280
$68,596stated construction was “ being rapidly pushed, although not yet at the 1896-7
. . . . 445,567
106,939
11,275
79,848
15,810
stage required by the Texas laws for bond issues to be authorized.”
R eport in V. 65, p. 822. For year 1896-97, gross, $571,150; net,
President, U. Lott; Sec., John T. Bonner, Victoria, Tex.
$136,833; taxes, $15,637; balance for interest, $121,196. Annual
G u lf B e a u m o n t & K a n sa s City B y .—Beaumont, Tex., to New- interest charge, $105,600. In 1895-6, gross, $518,489; net, $134,137;
tonville, Tex., and branches. 75 miles. Capital stock $500,000; par taxes, $15,139. Fiscal agent, Blair & Oo., N. Y. ("V. 65, p. 1140.)
$100. 2d M. $750,000 issued, but not outstanding; loans and bills
H o u sto n Sc T ex a s Central R ailroad.—(See Map o f Southern
payable June 30, 1898, were $181,567. Car trust notes $8,364. Pacific ) —Owns from Houston, Texas, to Denison, Texas, 338 miles,*
E arnings.—Year ending June 30,1898, gross, $155,188; net, $76,526; Hempstead, Tex., to Austin, Texas, 114 miles; Bremond to Ross, Tex *
interest, etc., $42,770; General Office, 12 Pearl St., Boston, in New 54 miles (former Waco & Northwestern acquired in July, 1898); total
York see J. C. Chew, fiscal agent, 68 Broad St. V. 63, p. 880. See owned, 453 miles. Also operates Fort Worth & New Orl. Ry., Garrett
statement following.
Ft. Worth, 40 m,; Cent.Tex. & N.W., 12 m.; Austin & N.W., 107; other,4 m*
In Dec., 1898, the company proposed to absorb the Central Texas &
G u lf B ea u m o n t Sc Great N orth ern .—Organized in Texas in Northwestern.
Fort Worth & New Orleans, Lancaster Tap. Austin Si
1898 with a capital stock of $600,000, to take over the Gulf Beau N.W. and the Granite
Mt. & Marble Falls City, now parts of the South
mont & Kansas City, antf to make further extensions. Projected from ern Pacific system ; also
to issue bonds and stocks. V. 67, p. 1309.
Sabine Pass, on the Gulf of Mexico, north, about 300 miles, to a con
H
istory
.—Successor
April 11, 1893, to a railw ay company fore*
nection at Paris with the St. Louis & San Franoisoo RR. Also pro
closed Sept. 8,1888. Reorganization plan Y. 45, p. 792, 820. Con*
jected from Jasper, northwest, about 250 m to Fort Worth.
solidation with Texas Central lias been proposed. Waco & Northwest
G u lf Sc In ter-S tate K a ilw a y o f T e x a s.—Port Bolivar, on ern was acquired in July, 1898, for $1,529,000, but what securities
Galveston Bay. to Beaumont, Texas. Transfer to Galveston is made will be issued therefor not determined.
by boat. Projected to Red River, Texas. 380 miles, with branch,
B onds.—The bonds are being gradually reduced with proceeds o f
Winnie to Beaumont, 25 m iles; total 405 miles. Bonds, 1st 30-year land
sales. The first mortgage was for $8,634,000, of which $570,000
gold 58, Improvement & Loan Co. of Galveston, trustee; amount out reserved
against claim of State of Texas upon 75 miles of the road.
standing June 30,1898, understood to be $9u0,000. Capital stock as
The
Southern Pacific Company guarantees interest on all the bonds
reduced by exchange for bonds in 1898 to $71,000. V. 67, p. 28.
and both principal and int. of debentures of 1897! The firs t m ortgage
G u lf Sc Ship Isla n d R R . - Road runs from the Gulf at Gulfport bonds and the consolidated mortgage bonds may be called for redemp
to Hattiesburg, Miss., 71 m iles; branch to Handsboro, 4 miles. tion at 110 with proceeds of land sales. See full abstracts o f all the
Capital stock, $1,400,000. Land grant about 150,000 acres. President, mortgages in V. 52, p. 242. Of the $5,068,000consolidated 6 s authorized
J. T. Jones; Treasurer, W. W. Bell; Main office, Gulfport, Miss. For $1,149,000 (not included in the amount outstanding above) are held as
year ending June 30,1898, gross, $158,298: net, $71,575; income from part security fop the general 4s. Stock, $10,000,000, of which the So,
land sales, etc., $250,772; charges, $63,368; balance, surplus, $258,- Pacific Co. owns" *9,598, i0 0 ; par, $100.
979. On June 3 0 ,1 8 9 -, car trusts were $48,162.—(V. 63, p. 357, 559.)
As to school fund claim for $673,100, see V. 64, p. 1137; V. 66 , p.
H a n c o ck Sc C alum et K B . —Owns narrow-gauge road Hancock 471. Appeal taken to U. 8 . Supreme Court,
L ands.—The lands June 30, 1897, consisted for first mortgage o f
to Fulton, Mich., 24 miles; branches, 7 m iles; total, 31 miles.
2,210,144 acres; consol, mortgage, 1,465,958 acres; gea ral mort
Stock, $350,000; par $100—$250,000 owned by Mineral Range RR.
D ividends .—In 1893, 5 p. c.; in 1894, 2 1« p. c.; in 1895, Feb., 2*2 p. o. gage, 12,996 acres. Deferred payments were: For 1st mort.. $194,288;
June, 5 p. c.; In 1896, Feb., 5 p. o.; Aug., 5 p. c.; in 1897, Sept., 5 p. c. consol, mortgage, $160,998; general mort., $1.158. V. 65, p. 869.
In year 1897-98, gross, $185,250; net, including other income, $32,- Latest E arnings—4 mos., < 1898....Gross, $1,474,886; net, $746,256
July 1 to Oct. 31.
\ 1897. ..Gross, 1,203,935; net, 494,426
4 7 5 ; interest, etc., $21,943; dividends, $17,500; nal., surp., $6,968.
(3) O P E R A T IO N S OF W H O L E SY ST E M .
Year end. June 30,’ 98. Oross.
Net.
Oth. inc.
Tot.net inc.
St. Paul M. & M. Ry. $17,639,770 $8,737,166 $1,356,465 $10,093,631
Eastern Ry. of Minn.
2,018,031
865,377
121,081
986,458
Montana Central R y.
2,126,342
944,075
11,990
956.066
Will. & Sioux FallsRy.
740,160
459,808
694
460,502
Dul. W ater.&Pac.Ry
53,239
15,470
124
15,594
S
J a n u a r y , 1899.J
KAILROAD
STOCKS
AKD
BONDS.
*1
Subscribers w ill confer a great favor by g iv in g Im m ed iate n otice o f a n y error discovered In tbese T a b les.
RAILROADS.
on first page of tables.
H u n tingd on dt Broad Top—Common stock.......
Preferred stock, 7 per cent, non-cumulative.
2 d mort., old 7s, extended In 1895, p & 1., gold).
'Consol, car trust, $ 68,000 due Oct. 1 yea rly....
H utchinson dt Southern —Stock ($20,000 per mile
1st M.,g.($5,000 p m ) red.at 105 aft.1907.OB c
I l l i n o i s C e n tr a l —Stock.......................................... .
Leased line 4 per cent stock, guar, (see remarks.)
1st mort, of ' Sterling bds. old 6 s ext. in 1895
1 8 7 4 f o r Sterl. of ’03, £10,000 dr’ nyrl.o*
_J|
,JR M R Sterling bonds, due 1905..........
$15,000,000
1 48 o f 1886, due 1951, gold .. . . c*
eauallv
I 3^8 of 1886, due 1951, g old .. o*
....... 13s of 1895, due 1951, gold.c*Ary
Trust bonds sterl. (secured by Ch. St.L.&N.O.cons.)
1st M.,Sp.Div. ref. m., (V.66 . p. 1237) g.Us.xo*&r
1st M., Middle Div.,Otto to Norman June. A brs.r
Collateral trust bonds, gold, $................... ... .c*&r
Cairo Bridge bonds, gold (see remarks)........ c*<fer
Col.trust. $25,000,000, gold, on L. N.O. A T..c*<fer
Western lines, 1st M., gold (feee text)............. c*&r
St. L. Div. & Term’l M., $10,000,000 l 's . . . x o ’,&r
Do $5,000,000 (See V. 65, p. 1173)____ U s .x
Louisv.Div. &Term. M .,$25,000,000,g.l7s.xo*<fcr
Col. trust, gold, 2-1 Os (red. at 100) . ______ o*&r
Chicago St. Louis A N ew Orleans, 2d mortgage..
<Consol. M. ($18,000,000), gold, lnt. guar.o*«fcr
(D o guar. p. A i ................................................
Memphis Div. 1st M., gold,guar. p. Ai. (end.) .o*
Bonds —Prinei INTEREST OR DIVIDENDS.
Miles Date Size, or
pal.WhenDue.
Amount Rate Per When
of
of
Par Outstanding
Where Payable, and by Stocks—Last
Road Bonds Value.
Cent. Payable
Whom.
Dividends.
63
Phil.Of Ath AW olnitat Feb. 8 , ’ 9 7 ,1%
$50 $1,371,750 l i n i 897
63
....
' 2 i000;000 5 in 1898 Semi-an
50
do
do
Feb. 1, ’99, 2ia
63 1854
500
416,000
do
do
4 8 - A. A O.
Sept. 30,1920
63 1857
367,500
500
do
do
4 8 - F. A A.
Feb. 1, 1925
63 1865
1,497,000
1,000
do
5 8 - A. A 0.
do
Moh. 31.1925
1896
544,000
5
1,000
A. A O. Phila. .Merchants’Trust O ct.l,’99-1906
100
2,600,000
130 1898
645^000
1,000
5 8 - J. A J. Old Col. Tr. Co., Boston Jan. 1, 1928
....
....
100 52,500,000 5 in ! 898 M. A 8 . N. Y., 214 B’wav A Lon. M ch.l,’ 99,2iaX
....
....
4
100
10 ,000,000
J. A J. N. Y., 214 B’way A Lon. Jan., ’99, 2%
1875
£200
2,500,000
London.
4 8 - A. A O.
Apr. 1, 1951
1874
£200
3,350,000
5 8 - A. A O. London,Morton.R. A Co. Apr. 1, 1903
1875
£200
1 .000,000
do
5 8 - J. A D.
do
Deo. 1, 1905
1886
1,000
1,500,000
4 8 - J. A J. New York, 214 B’dwav. Jan. 1, 1951
1886
1,000
2,499,000
do
3*3 g. J. A J.
do
Jan. 1, 1951
1895
£500,000
£200
London.
3 g. M. A 8 .
Mar. 1, 1951
....
1886
£200
$5,266,000
3^2 g. J. A J. London Baring Bros. July 1, 1950
I l l 1897
1,000
1,995,000
3 ^g. J. A J. New York, 214 B’dwav. Jan. 1, 1951
131 1881
1,000
968,000
5
F. A A.
do
do
Aug. 1, 1921
857 1888 500 Ac. 15,000,000
do
do
Apr. 1, 1952
4 8 - A. A O.
....
1890
1,000
3,000.000
do
do
4 8 - J. A D.
Deo. 1, 1950
798 1892 500 Ac. 25,000,000
do
do
Nov. 1, 1953
4 8 - M. A N.
218 1894
1,000
5,425,000
do
do
Aug. 1, 1951
4 8 * F. A A.
J 1897 5001 Ac. b 6 ,321,000
do
S^g. J. A J.
do
July 1, 1951
4,939,925
(1897 1.000
do
do
July 1, 1951
3 8 - J. A J.
535 1897 500 Ac. cl4,320,000
do
3^2 g. J. A J.
do
July 1, 1953
....
1894
1,000
3,101,000
do
J.
A
J.
do
Jan. 1, 1904
4 8567 1877
80, Ot 0
6
J. A D.
do
do
Deo. 1, 1907
567 1881
1,000 a l l , 289,000
do
5 8 - J /jA D rj
do
June 15,1951
567 1897
1,000
1,352,000
3i3g. Jrj’ADry
do
do
June 15,1951
100 1889
1,000
3,500,000
do
do
Deo. 1, 1951
4 8 - J. A D.
.
Fiscal year changed in 1897 to end June 30. Report for 1897-98, in
V. 67, p. 1260, showed gross $3,164,530; net, $1,036,976; other income
$ 2 ,454 ; interest, $792,264; taxes, $69,546; betterments, $108,656;
miscell., $22,735; bal., sur., $46,229. In 1896-97, gross, $3,206,572:
net, $1,032,432.—(Y. 6 7 ,1 2 6 0 , 1309.)
H u n tin g d o n & B r o a d T o p M t . R R . Sc C oal C o.—Owns from
Huntingdon, Pa., to Mount Dallas, Pa., 45 miles; branches, 18 miles.
The $25,000,000 collateral trust bonds o f 1953 were issued on pledge
of the securities of the Louisv. N. O. A Texas (now Yazoo A Mississippi
Valley RR.) purchased in 1892. Trustee o f deed, U. 8 . Trust Com
pany. A ll the $16,900,000 L. N. O. & T. 1st mortgage bonds, except
$68,000, all the $9,104,000 mortgage incomes and all but $96,000 of
the $ 10,000,000 land grant income bonds were owned by the Illinois
Central July 1,1898, and pledged to secure this loan. See adv. Chron
icle , June 11,1892, and V. 54, p. 9 64; V. 61, p. 112.
D iv id e n d s — 88. ’ 89. ’ 90. ’ 91. ’ 92. ’ 93. ’ 94. ’ 95. ’ 96. ’ 97. ’ 98. 1899
The collateral trust bonds o f 1004, (United States Trust Co., Trustee,)
On common.. 0
0 0
2
4 5
5 4*3 4
1 ___
....
their collateral were described in V. 62, p. 988.
On preferred. 5
5 5*2 7 7
7 7 7
7
6 5 Feb.,2*3 and
For the Chicago St. L ou is dt New Orleans the lessee guarantees the
A nnual R eport .—Report for 1897 was given in V. 6 6 , p. 331.
principal and interest of all the outstanding bonds prior to the 5 s o f
1881, and by an endorsement on the latter bonds guarantees the
Cross.
Net.
Interest. D ivid’nds.
Balance.
1897........... ..$509,540 $244,025 $106,655 $134,020 sur. $3,350 payment of the interest on the same until the principal is paid. Of
these
consol. 5s $5,266,000 additional to the amount outstanding above
1896.............. 583,362
299,212
106,190
181,151 sur. 11,871
1895.............. 648,004
352,021
110,650
200,872 sur. 40,499 are pleged as security for the Illinois Central trust bonds of 1886. The
3*28
of
1897 are guaranteed, p. A i.. by endorsement—see form o f guar
—(V. 64, p. 326; V. 65, p. I l l ; V. 66 , p. 288, 331.)
anty in V. 65, p. 1071. Illinois Central owns entire $10,000,000 ca p
H u tc h in s o n Sc S ou th ern B y .—From Hutchinson, Kan., to Med ital
stock
St. L. & N. O., which is held in trust for the 111. Central
ford, O.T., 104 miles. Extensions to Blackwell, 25 miles, operated leased lineof4 C.
per cent stock. (V. 65, p. 1071.)
from March 1,1898, and 15 miles additional expected to be completed
The
Western L in es loan of 1894 is for $10.000,000, but only $5,425,about March 1,1899. Also projected to Denison, Tex.,200 miles.
000 can now be issued upon the road from Dubuque to Iowa Falls, 142
Successor in Jan., 1898, to Hutchinson A Southern RB. foreclosed. miles,
and Cedar Falls to Minn. State line, 76 miles. The bonds are
B onds.—The 1st mort. 5s subject to call after 10 years (Old Col. Tr« direct obligations of the Illinois Central, but are secured by a first
Co., Boston, mortgage trustee), to be issued at not exceeding $5,000 mortgage given by the Dubuque & Sioux City on the portion of its road
per mile o f completed road up to 150 miles.
above named. The remaining $4,575,000 bonds .can be issued only
E arnings.—For 8 mos. ending Mar. 1,1898, old Co. earned on 104 when the road from Iowa Falls to Sioux City, 184 miles, now subject to
$2,800,000
of Iowa Falls A Sioux City bonds due in 1917, shall be trans
miles, gross, $94,754; net, $37,903; from Mar, 1 to July 1,1898, new
Co., on 129 miles, gross. $58,004; net, $32,614. W A. Bradford, Jr., ferred to the trustee without any encumbrance. Trustee, United States
Trust
Co.
Sinking
fund, $46,733 yearly, out of earnings, is provided for
President—(Y. 66 , p. 82,183, 236; V. 67, p. 274, 371)
in the lease of Dubuque A S. C. to Illinois Central, but Is not men
Illin o is Central R R , - >(See Map.) —R oad .—Operates from Chicago, tioned in mortgage on Western lines; bonds cannot be called.
111., southerly to New Orleans, La., 912 miles, and westerly to Sioux
The St. Louis D ivisional dt Term inal bonds are direct obligations o f
City, la., 509 miles, with numerous branches. Its road, clearly shown the
Illinois Central RR. and are secured by a mortgage made join tly
on the accompanying map, is made up as follow s: (ITwhich see.)
with the St. Louis Alton A Terre Haute RR. Co., covering the St. Louis
R oad owned in fee.
Miles.
E n tire stock owned.
M iles division, which extends from East St. Louis to Brooklyn, opposite P a
Chicago to Cairo, 111.. ( M , ) 815 Branches.................................. 815 ducah, Ky., and to Eldorado, 111., with branches, 239 miles in all, to
Centralia, 111., to East < i r 8’™ >
Leased.— Control owned.
gether with real estate in East St. Louis, etc. Of the $15,000,000
Dubuque, l a . .......... ( 8tem- ) 341 Dubuque & Sioux City j[....... 600 authorized, $5,000,000 are three per cents. The remainder ($10,Leased, entire slock owned.
St. Louis Alton A Terre H.1T- 239 000,000) bear 3^2 per cent interest; $6,500,000 were authorized to
Chicago St. L. & N. O. RR.
Leased.
be issued in exchange for the first mortgage bonds of the St. Louis
Cairo, 111., to New Orleans. 547 Louisv. Br. from L. A N .......
46 Company’s system at not exceeding $1,080 of new for $1,000 o f exist
Line to Louisville, etc.. . . )
ing
bonds, and $3,500,000 are issuable for improvements, equipment,
Chicago
A
Texas
(Sept.’
97....
80
(C. O. & S. W. A br’ches).. ( 396
etc., the Illinois Central agreeing to take up with these all the m com «
Evansv. Line (Ohio Val. RR. 139
Total system June 30, ’98. .4,615 bonds and consols of the St. Louis Company. United States Trust Co.
Mem., Ten., to Grenada.Miss. 100
O f which earns, kept separate — is mortgage trustee. As to the $1,400,000 underlying bonds still out
Yazoo & Mississippi Val. RR.
Yazoo A Miss. Vail. R R ........ 947 standing on the St. Louis Alton & T. H. system, see table on next page.
TTMemphis to N. O. and brs. 947
See a b s t r a c t of mortgage in V. 66 , p. 1 3 8 . See also V. 66 , p. 133.
For year 1897-98 St. Louis Division earned: Gross, $1,454,?'63; net,
Total included in earns.
July 1, 1898...............3,668 $548,138; paid rentals and interest, $502,398; balance surplus, $45,’
Note .—On June 30,1898, the company reported 3,808 miles included 740. Seealso V. 67, p. 5S1.
In earnings, contrasting with 3.130 miles in June, 1897. The increase
The Louisville Division dt Term inal m ortgage of 1897 is for $25,000,
o f 678 miles consisted of the Chesapeake Ohio & S. W., 396 miles and 000. The mortgage covers the road from Elizabethtown, Ky.,
branches 60 miles (Louisville Div.) taken over in July, 1897, the Ohio via Paducah, Ky., to Memphis, Tenn., 351 miles; Owensboro
Valley RR.. 139 miles. Aug.. 1897; the Chicago & Texas, 82 miles in branoh, 42 miles, and Short Route Ry. Transfer, 1*2 miles, mak
October, 1897. The Illinois Central earnings have never included the ing a total of 3941a miles owned and 45*2 miles to Louisville leased
results on 807 miles of the Yazoo A Mississippi Valley Ry. (these being from L. & N ; also by deposit of bonds covers the former Ohio Valley
reported separately), and on July l , 1898, the 140 miles also which had Ry., 139 miles. Of the loan $3,448,000 are reserved to retire the $3,been included, were surrendered, reducing the mileage included in 101,000 coll, trust two-ten bonds; $ 1 ,112,000 to purchase the 46
the earnings of the Illinois Central to 3,668 miles. See V. 67, p. 581.
miles (Cecilia branch) from L. A N. and to retire the L. & N. bonds
H istory , L eases, Ac.—Chartered In December, 1850. The company thereon; $2,500,000 for new acquisitions, additions or extensions.
The
Chicago St. Louis & New Orleans, which took title to the Louisville
pays to the State of Illinois 7 per cent (in 1896, $1,051,358) of gross
o f the 706 miles owned in fee yearly in lieu of taxes. The Chicago St. L. Division, joins in making the mortgage securing the loan. See V. 66 . p.
1
3
6
, for a b s tr a c t . (V. 65, p. 367, 516; V.6 6 , p. 133; V. 67 p. 581.)
& N. O. is leased for 400 years from July 1,1882, at 4 per cent per an uum
•on Its $10,000,000 stock deposited to secure the leased line slock.
General F inances.—Capital stock for $2,500,000 (of the $10,000,In 1892 practioally all the stock and bonds of the Louisv. New Orleans 000 authorized in December, 1895), was sold at par early in 1896.
& Texas were acquired, and the company merged in the Yazoo &
In May, 1897, arrangements were made with Kuhn, Loeb A Co. and
Mississippi valley. A lease of the 8 t. Louis Alton & Terre Haute sys Vermilye A Co., covering the sale of $20,000,000 Louis. Div. A Term
tem was taken in April, 1896. V. 62, p. 636, 684. In May, 1897, the inal new 3ii»s, and $10,000,000 St. Louis Division 3^ s, of whioh to
Chesapeake Ohio & Southwestern and allied lines were merged in Jan. 1,1899, the amount shown in table had been issued. The net earn
■the Chicago St. Louis & New Orleans, forming the Louisville Division. ings for the year 1 -97-98 applicable to dividends were largely in excess
Capital Stock .—The leased line stock is secured by deposit of of 5 per cent, but it was decided in July, 1898, to use the surplus for
$10,000,000 Chicago St. Louis & New Orleans stock, and in oase of improvements, and not increase the dividend rate. (V. 67, p. 177.)
The Fort Dodge A Omaha RR. was incorporated in Sept., 1898, with
default for sixty days in the payment of any semi-annual dividend o f 2
a capital stock o f $5,000,000, to build in 1899 an extension for the
per cent, the stockholder is entitled to his share of the stock pledged.
Illinois
Central from Fort Dodge, la., to Omaha, Neb., via Council
Authorized capital stock increased from $50.000,000 to $60,000,000
in November, 1895; $52,500,000 listed to June, 1898. V. 66 , p. 1040. Bluffs, about 125 miles. V. 67, p. 956.
The Canton Aberdeen A Nashville was incorporated in 8 ept., 1898,
D ividends . >1885. ’ 86 . ’ 87. ’ 88 . ’ 89. ’90. ’91 to M ch.’99,inol. as an extension from West Puint, Miss., to coal lands near Winfield.
•Common stock. S 8 p.c. 7 ^
7
7 5^
6
5 p. c. yearly.
Ala., on the Kansas City Mem. & Gulf, 65 miles, all under construction,
B onds.—Main Line $15,000,000 mortgage of 1874 covers property —V. 67. p. 320, 578.
described in V. 63, p. 76. Cairo bridge bonds are secured by deposit
E arnings.—5 mos., (1 8 9 8 ....... Gross, $11,839,170; net, $3,560,929
■of a like amount of Chicago St. Louis & New Orleans 1st ¡VL Cairo Bridge
July 1 to Nov. 30. (18 9 7 ........Gross, 11,509,057; net, 3,597,918
5s. The rental for the bridge is $180,000 in gold annually, of which
$30,000 goes to a contingent and sinking fund till 1902, then $20,000
Mileage operated 3,668 in 1898, against 3,808 in 1897; see explana
tion under “ road ” above.
to regular sinking fund. See adv. in Chronicle , May 7,1892.
The trust bonds of 1886 are secured by deposit of $5,266,000 Chicago
Annual R eport .—Fiscal year ends June 30. Annual meeting is held
St. I*. & N. O. consols o f •SI* and are to be included in any new mortg- at Chicago the third Wednesday in September. Report for 1897-98 ^ a s
The collateral trust bonds o f 1952 are secured by pledge with the U. 8 . published at length in V. 67, p. 575, 580. See also editorial, p. 558. .
Trust Co. of New York of $16,350,000 5 per cent 1st mortgage gold The following does not include Yazoo & Mississippi Valley—which see
bonds o f subsidiary railroads covering 854 miles. See list, V. 55, p. 550. below, but does include the St. L. Alton & T H. since Oct. 1, 1895:
J a n u a r y , 1899.J
ÜAILKOAD
STOCKS
AND
BOND8.
73
¡Bonds—Princl
INTEREST OR DIVIDENDS.
Miles Date Size, or
.
For explanation of column headings, &o., see notes of
por
Amount Rate per
___
pal, When Due.
of
When
Where
Payable,
and
by
Stocks—Last
__________
on first page of tables.
Road, Bonds Value. Outstanding Cent.
Payable
Whom.
Dividend.
Illin o is Central—(C oncluded ) —
8t. Louis Alton & T. H.—Stock (not held by Illin
Bonds assumed not held by Illinois Central.
Bellev.A Carondelet, 1st M.,Belle.to E.C.,gold.o
Bellev. A El Dor., 1st M. (LC.owns $100,000) c
8t. Louis Southern., lstm ort., gold................ o
,
Garbondale & Shawneetown 1st M., gold.. . 0’
In d ia n a D ecatur A West.—1st M., g., red. at 110.o’
Car trusts..................................................................
In d ia n a Illinois A Iowa —Stock..........................
1st mortgage, $3,000,000, gold, red. a tllO .C o .c ’
I n d . A L.M ich .—1st M., $12,000 p. m., gold, guar.c’
In d ia n a p o lis TJn.—lstm ., g „ s. f. not subj.to call.c'
Indianapolis A Vincennes —1st M., guar. p.&l. (end.)c
2d M., guaranteedp. A 1. Penn. RR. Co. (end.)___e
International A Great Northern —1st mort., gold___
2d mortgage, g o ld ................................................o*
3d m. ($3,000,000) (formerly incomes), g ......... o*
Colorado Bridge bonds, sinking fun d.....................
In terocca n ic B y. o f Mexico—Ord. shs., £1,700,000.
Preferred stock, 7 per cent, cum., £1,000,000.
Pr. lien deb., subl. to call at par aft. Mch. 1, ’97.
Four p. c. deb. stock, sub. call, par, £1,150,000.
Deb. stock, 7% “ A,” subj. to call, 110, non-cam..
Deb. stock, 7% “ B,” subj. to cull, 120, non-cum..
ois Ce ntral)
$100
$80,100
1,000
1,000
1,000
1,000
485 ,000
103 ,000
550',000
250',000
1,824 ,000
485 980
3,597 800
2,500 ,000
480 ,000
954 ,000
1,700 ,000
i,4oo;.000
7,954,,000
7,051.,000
2,720 ,500
198, 000
£1,700,,000
17
51
30
17
152
1883
1880
1886
1887
1895
1898
152
40
93
133
133
776
776
776
1898
1,000
1889
1,000
1886
1,000
1867
1,000
1870
1,000
1879 300 Ac.
1881 500 Ac.
1892 500 Ac.
1880
1,000
£10
10
50 Ac.
1,000
"Ï00
"ÍÓ
10
1, 000 ,,000
400,,000
528,,660
735,,396
469,,459
23*
?*
4 g.
4
g5 g.
* g.
g5
4 1ag,
7
6
2 g-
A g1
7 g'
J. A J New York, 214 B’dway, Jan., ’9 9 ,1 ^ %
J. A D,
do
do
June 1, 1923
J. A J.
do
do
July 1, 1910
m . A S. N. Y., Mercan. Tr. Co.
Sept. 1, 1931
M. A S.
do
do
Mch.
1, 1932
J. & J. N. Y., Central Trust Co. Jan. 1,
1935
New York.
Monthly.
A. &
N. Y., Cont’l Trust Co. Oct. 1, 1948
M. A
Mar., ’96, coup, last pd Sept. 1, 1939
M. A
Phila., Fidelity Trust. May 1, 1926
F. A
N. Y., Farm. L. A Tr. Co Feb. 1, 1908
M. A
do
do
May 1, 1900
m. A
N.Y., office, 195 B ’way. Nov. 1, 1919
M. &
N. Y., office, 195 B’way. Sept. 1, 1909
m. a
See remarks.
Sept. 1, 1921
M. A
N.Y., office, 195 B’ way. May 1, 1920
5
J. A J.
4
M&S 15
in ’ 98.
t o 'Ä 'Ä S S L l S i S i ” 4* 011886-
Mch. 31,1912
Sept. 15,1950
Sept. 15,1950
Sept. 15,1950
~
»»8UMJ$¿Í°3883QÓ0898, bMldM Ul6 * ¡4 ,320,000 sold, *3.620,000 w e n ia treasar, and *3,448,000 pledged to seoure 2-10 bond», making to ta l
Year ending June 30—
1898.
3,808
Miles operated .......................
Passenger earnings.................. $5,103,812
Freight earnings....................... 18,918,729
mail, express A miscellaneous .3,295,279
1897.
3,130
$4,214.461
15,162 019
2,734,458
1896.
and M. L. Scudder, of reorganization committee. Depositary, Central
3,127
Trust Co.—V. 67, p. 1263.
$4,394,771
plan’,ln Y: 63’,P -129, issued in Jan.. 18 -9. provides for
15,028,104
2,579,967 RR g^?th *25 0 n n n s V ^ tit,le of, St‘ i 08e5b Soutb
& Southern
?250,000 5 per cent preferred and *500.000common
stook.
Total earnings................... $27,317,820 $22,110,938 $22,002,842
*or ? « years by Morgan G. Bulkeley, S. 0. Dunham and OolOperating expenses................... $18,655,470 $15,735,884 $14,962,276 per c^ntybVapeT»°ti 5g itSQQte(>
e«u Tbe,old bonds pay an assessment o f 25
li5, 1899, and receive par in new common and 25 per
P. ct. op. expen. to gross earns
(68-29)
(71-16)
( 68 - 00 )
®ont in preferred, leaving in the treasury *20:000 common and «1 no
000
preferred
for
future requirements V. 68 p 129
* 180*‘
$8,662,350 $6,375,054 $7,040,566
Net receipts from interest, Ac
2,177,064
2,110,756
« 5 5
! « « t o » bnder operat1,832,678 ¡ 4 " l f 2 5 ”
Miscellaneous..........................
59,305
53,440
85,786
» e c a t u r & S p r in g fie ld R y . —In the organiza$10,898,719 $8,539,250 $8,959,030 rtkn?L*He n
.na P f a-? r & Western—which see above—the old Inv u A.XX. vou w a x UUUUO.. $2,993,545
$3,189,972
$2,932,808
& Sipri? iVflerld i 8t 78 received par in new bonds and
Int. on Chic. St. L. AN. O. bonds. 2,139,660
1,648,905
1,649,221 $390 per bond from sale o f I. D. & W. stock—see V. 65, p. 27.
Rental Dub. & Sioux City R R ..
793,453
531,193
950,46a
In d ia n a p o lis U n io n R y . —Owns 3 miles o f traok -99 nf n. n-.n.
Net rental St. L. A. A T. H .
533,406
340,627
290,811
Dividends on 111. Central stock 2,625,000
o f ^In
d di «ia18
uDdI? o2?^po1«
' Ind-’
andsee).
lea8®s ior 999 years
2,625,000
2,562,500 the
- °B elt^R
i ' of
n aatp olis-1
miles
(which
*947,452
50,000
50,000
1850 and furnishes terminal facilities to the several
Chicago &
ihP pS ?Pn U8, £ APiTAL^ The Cleveland Cincinnati
ïï$866,203
$153,553
$523,227 id“
Pittsburg Cincinnati Chicago <fe St. Louis and
the Terre Haute & Indianapolis are virtual proprietors thev havincr in
“ des 8501,452 additions to insurance fund and $396,000 fund ve840d 4 n it $859,175 toJifne 30,1898. No^stock o u t s t o S g . B on ? s‘
fo r air brakes and couplers from July 1,1898, to Deo. 31,1899.
PhiiadAi^ida mortgage is the Fidelity Ins. True« A Safe Deposit Co. of
IT Includes $829,000 betterments, against $150,000 in 1896-7.
12irelp*11 Bonds for $46,000 have been canceled by sinking fund
Y azoo & Mississippi Valley .—Results on 807 m iles:
For year ending June 30,1898, gross, $539,393; net, $159 760 • o t w
(ooome, $9,749; charges, $92,522; balance, surplus $76 987 Tn
ia o 7 o T
Other inc. Interest, etc. B al. sur. 1895-6,
gross, $606,520; net, $310,512; other income, $13,672.
1896.97
$785,203
$784,031
1,260,897
67
690,523
570,441 . In d ia n ap olis & V in cen n es R R . —Owns from Indiananoiis Tnd
1896-97---- 3,936,513
^ LT°N & „T erre H a u t e RR.—Forms the “ Cairo Short to Ylnoennes. 117 miles; branches, Bushrod to Dugger, etc., 16 miles.
Securities.—Stock, $1,402,000; par, $50; of which Pennsylvania
I 4?® °5 te
Ea8t St. Louis, across the coal fields of Southern illiPennsylvania
?°* 8
opposite Paducah, Ky., and to Eldorado, 111., with Company on Jan. 1 , 1898, owned $1,401,900.
branches, a total mileage of 239 miles.
a
QV088*
Net»
iTttPVPflt pft*
P/v/ mms«
$84,403
$209,397
def. $^24 994
¿ 2 r 99 year,8 from October 1,1895, to the Illinois 1897................ $489.304
1896................
485,608
98,197
208,474
def
$110
277
coinpanies simultaneously have mortgaged all
in the property to secure the new St. Louis Division &
Tenninalbonds. The supplemental lease provides for the payment of
c?ntJ >,S.r annum on the $80,100 (ofthe $3,Lines owned—
Miles.
J2a80<a 08i^Ck o i t
A. & T. H. not deposited under the mort1
■^•8 t° amounts o f the several issues of bonds not owned by II- Longview, Tex., to Laredo,
Houston A Hen.
Tex...................... .................... 496 Galveston,
linois Central on Jan. 1, 1898, see table above.
y
(jointly with M .K .A T ) ....... 50
»end k ngs 8lnooOct. 1,1895, included in Illinois Central reports: Year Palestine to Houston, T ex.......150 Other lines................................. 26
etc.,
1894-5, gross, $1,350,055; net, $567,526. —V. 67, p 5 7 5 ,5 7 8 , 5 8 0 ,0 5 6 . M in c o l a , Columbia,
Total system......................... 823
/n,tnrd lmnai
£ W e s t e r n R y .-In d ia n a p o lis . Ind., to De■oatm-, 111., 152 miles. Successor in 1894 of Indianapolis Decatur & l n ^ 5 4 N^ ^ 9 N9^RleOs ^ ^ zed« r lt^o^ f? re0^O8l^ ,®"1892",md"er plan
^®®tcrn, foreclosed under the old Indianapolis Decatur <te Springfield $9 755 o & -2 n f ; 3| ino?t^ k+.aiii^or/ ze? } B $25,000,000; outstamfing,
$100; i 5? ? ti ? 11.e d ln interest of Missouri Pacific 8
o f 1876.—V. 61, p. 1064. See decision confirming the valid
& 8 4 *^,9 8bareJ of G. H. A H. stook. See V. 61, p.1013,1064
ity o fth e reorganization in V. 64, p. 41, 953; V. 65. p. 27
in
olu
ffin
iT
^
t
interest, scaled to 4 ^ per cent, ¿nttl and
Dec®mber, 1895, $912,000 common and $912,d l adx?el,n l88^ ’.aU o f which ha<ibeen sold to Cin. Ham.
V‘ 61,J(\12§4; Bills payable June 30,1897, $30,000.
The third m ortgage 4 p e r cent bonds for $3,000,000. which wera
°* 189^ i8 authorized at $12,000 per mile for
n 9 0 1W
h 1807,now draw interest at 4 p c. per annum
additioua1 road built or acquired; the bonds are redeemable by lot at
T899 >’ Pt w a ^ 6 ittrst Payment of interest was made on Maroh 1
T r u k ? t l gbt weeks notice; mortgage trustee, Central 189.8- There is also outstanding fractional 3d mortgage serin nnn
rrust Co., N. Y., and Augustus L. Mason of Indiana.
Yertible for $20,052. The certificates o f indebtedness ^ e v e v a id T ff
¿ i 99’
r and
m5any
ed t0 instalments.
buy 1>000 freight cars for Nov. 1,1897. On June 30,1897, loans and bills payable, $375,000.
8485,980, part
cash
partarran«
in monthly
$3^654^438S‘_ J a n ‘ 1 10 De° ' 31, S™88» $3.905,156 in 1898; in 1897,
A nnual R eport .—Report for 1897-98 was in V. 67, p. 839.
^ « 97*9 8 ^ ' June
NeL
Charges. Balance. 1898^1___$3,905’ l4 6
’'t ...
g la n ce.
T s o l a - ................... ^¡81.701 $353,282 $128,419 $91,200 $37,219
1896-9/.................... 455,695
336,684
119,011 91,200 27,811 •on l**""** 3,657,336
$981,829 $6,215 $1.023 153 dftf
V W P r « aR
I l n
Eecember, 1895): President, M. D. Woodford, p. S T 6 7'35°
W
»
Vioe-Pres.,Hy. F. Shoemaker.—(V. 64, p. 953; V. 65, p. 27; V.67,p. 83 9 .) a s ? : « # a m
nf
I**i0l 8 A
R B .^ O w n s from Streator Junction,
QQd-,4i152* ^ iie8J (Kan- & Sen- KK-> Kankakee to m ilessLosA rc08 to Tlaucualpican, 72 miles; other branches iSmiioa3
mnAfl <5tI^ o+ ^ + ^ di>38 mil t8; t0£al of aU’ 190 mile8- Extension of 35 total. 555 miles. In Oct., 1898, line o f 39>4^iniles^^ to connect M w elos
Ru^caa J unction, proposed, via Lostant, there connneot Morelos
neoting with Illinois Central and at Bureau Junction with Chic. R. I. and Matamoras branches had been decided upon.
rniia^,0
00mPletlcn of which lease of trackage to Seneca, 38
Organization .—Chartered Abril 30,1898, by the Mexican 0 « ™ ,«
i'i1!'98T’,1
t o .b? iscontinued. V. 67, p. 634. Consolidated in 1898 with the mcRt; concessions expire 1982, when *tate may p u r c l i a f S h t A n o n '
ina. in . & Iowa Ry. o f Indiana, a subsidiary line. V. 67, p. 177, 578
7 7 ^ tlle
^3i°90.000 5s o f 1898, $2,500,000 were issued
s 8Q8
^ ? f ded debt ($1.757,000, called for payment in
ftna. for expenditures made out of the surplus earninisrs for conu r w ii.° n « w ^ m^ OVSment/.8’ a? d $500.000 are to b eh eW in toetrea s- ¿ eW ! i r e 4 ^ a^e ^ erved- An addit.onai £ 1 7 ^ 4 0 is reset^ed io?
tiesk^^A
s ro
to ^
h f h kor^ -A
A ^and
» ^ 28«86^’
wassee
issued
to repiace
n,™ th« r ilh t+ f b ? 0! ? 11 at not over $16,000 per mile. Bondholders uies.
a .8
ngnt8
stock,
Y. 62.
p 364 old seourinave the right to eleot two directors annually. V. 67, p. 578, 634.
24’ 1898(14^ months),gross', $3.140,200,
E
51898..............Gross, $323,797; net. $112.883 agafnst l J e ^ S o in
July 1 to Nov. 30. ( 1 8 9 7 ...........Gross, 294,525; net, * 62,651 1 qoF o r t -~ Year end. June 30: Gross.
Net.
Net in &
E arnings.—Report for year ending June 30, ’ 98, was in V. 67 p 949» J i l l ............— T.........(Mex.) 3,033,209 (Mex.)728,03l
£ 65^500
................
.
»•
2,¡>39,¿48
581,725
56 365
Is123 ' 2 9 2 . ^ w v ^ l 20’? 8^ ; r V o f e 8 9 2 ; « S h S S
*in n
' T^a?QoJ«_§quip
S tol,^ «9’644’ balauce. surplus for year, trihntfnn etn«U>.^CaC0Unt
1897‘ 98 showed £23,533 available for dis$100,956. In 1896-7, gross, $738,289; net. $195 077 Pr«aldAnt t p tribution to holders ot 7 p. o. “ A.99 dobentur© stock enna.1 to 3
S honts, The Rookery! Chicago, IU .-(V . 67, p* 901, 9 4 9 ^
’ '
oeJ“ 4 ° i , tbat «tofk with a balance o f £1,471 to carry forward*
P6
to1
Owned from South Bend,Ind., rr0 l3,IC/ R? T ® balrman’ Walter J. Strid-; 8ec., G. W. Hoghton- Treas
to St. Joseph, Mich. 39 miles. Sold Deo. 8,1898, to M. G. Bulkley " ¿ “ m m l f v 0«“ 0?: i - % 7
Bi0*Stt66t: L»nd“
'
*4
LNYESTOKS’
SUPPLEMENT,
IV OL. L X V I I I .
Subscribers w ill con fer a great fa v o r by g iv in g Im m ed ia te notice o f an y error discovered In these Tables«
Bonds —Princl INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
When
I
Where
Payable,
and
by
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Value.
Bonds
Road.
on first page of tables.
$100 $8,480,658
100
5,671,630
Preferred stock, $7,400,000, 5 p. c., non-cum ....
1,000
6,572,000
5 g. J. & D. N. Y., Mercantile Tr. Co,
1st M „ for $7,650,000; $15,000 per mile, gold, .c* 503 1888
1,000
591,000
6 g. J. & D. N. Y., Central Trust Co,
1885
Keithshurg Bridge 1st M., g., guar., red. at par.o*
Boston.
yearly.
100
600,000
20
Iro n Railway—Stock........ ----------- - - - - - - - •- - •- - 100
1,500,000
Jacksonville A St. L ¡uis —Stock Trust Certificates.
See text.
& J.
6
1,000
300,000
54 1880
Jaeksonv. Southeast. 1st M., Jack, to Litchfield..
& O. Phila.,Penn.Co.for Ins.
350,000
112 1896
1st consol, mortgage, $650,000, g old ......... 0
& J.
| g*
1,582,000
Incomes, 4s, gold, non-cumulative, $1,650,000.. 112 1896
N. Y., Seaboard N. Bk.
8
141,300
1893
Jacksonville Tampa A Key West—Receiver’ s certils.
& J Jan.,’95, paid July,’95.
1,000
1,566,000
1884
6
g1301«
1st, gold, redeemable at 110.............................--C*
Mch., ’95, coup, last pd.
&
S.
1,000
360,000
6g.
37 1886
Atlantic Coast St.Johns & Indian R. 1st M.,gold.c
& S. Mch., ’95, coup, last pd.
1,000
290,000
29 1886
Sanford & Lake Eustis 1st M. ($350,000), g old ...
No coupons paid.
&
s.
Î * 1,000
1,784.000
J. T. & K. W. consol, mortgage for $4,000,000.... 200 1890
& J. N.Y., Guar’ty Trust Co.
500,000
1,000
1894
Jacksonville Ter. R y —1st M., $500,000, g., guar.o*
New York.
& N.
250,000
if1,000
30 1898
Jamestown A Chau auqua —1st M., $250,000. <'o.c.
& o Interest in default.
5 S
316, <00
27 1896
Jamestown A L a k e E rie—1st mortgage, $325,000..
Phila.,
Fidelity Tr. Co.
<fe J.
300,000 4ifi& 6
1,000
8 1867
Jefferson—1st & 2d Ms,ext. in ’87&’ 89 (H’ dale Br.)c
N.Y., Erie RR.
& o.
2,800,000
1,000
5 g.
37 1889
1st M. Carbondale to 8. depot, gold, guar. p. <ft i . .c*
N.
Y.,
Farm.
L. & Tr. Co.
& J.
7
800,000
1,000
45 1877
Joliet A N orthern Indiana —1st M. gu. p. & 1. M. C.c
& J, Phila., Broad St. Sta.
4*2
425,000
1,000
Junction (Philadelphia) —1st m.,guar.p.&i.(ext’d). 3*56 1882
do
do
& o.
6
300.000
1,000
2d mortgage, guaranteed prin. & in t..................... 3*56 1865
& o, N. Y.V Central Tr. Co.
2,469,000
4 g.
1,000
164 1890
Kanaw.A Mich.— 1st M., $15,000p.m.,g.jgu. p.& i.c ’
& J, Boston, Of., 50 State St.
6
2,050,000
1,000
10 1886
Kansas City Belt—1st ($534,000 gu. K.C.F.S.&M.).c*
& o Boston, Merch. Nat. Bk.
3,192,000
1,000
5 g.
174 1885
Kansas City Clinton A Spring.—is t M., g., guar, .c
do
do
& o
7 g.
58,000
500
1877
Pleasant Hill & De Soto 1st mortgage, gold........
Boston, Of., 50 State St.
9,898,000
100
Kansas City Ft. Scott A Memphis —Stock...................
do
do
2,750,000
100
Preferred stock contracts, 8 percen t...................
J. & D Bost., Nat. Webster Bk,
2,197,000
K. C. F. S. & G. 1st M., I’d. gr.,s. f., dr’n at 110.o’ 160 1879 100 &c.
Iow a Cent.—Common stock, $11,000,000 auth.......
Apr. 11,1892:
June 1, 1938
June 1, 1925*
July 10,1891
July 1, 1910*
Oct. 1, 1925*
Jan. 1, 1935*
Jan. 1, 1914
Jan. 1, 1906
Sept. 1, 1916
1940
July 1, 1939
Nov. 15,1998
1996
July 1, 1927
Jan. 1, 1909*
July 1 0 ,190T
July 1, 1907
Apr. 1, 1900Apr. 1, 1990
July 1, 1916
Oct. 1, 1925
Oct., 1907
Feb. 16,1891
Feb. 15,1893
June 1, 1908
Reorganization in io » o vi uamentuwu ix, u m d .uhu cj.u
—V 67, p. 956; V. 68, p. 130. Stock, common, $350,000 5 per cent
non-cumulative preferred, $125,000 Year ending June 30. 1897r
gross, $42,470; net, $1,555; voluntary assessment paid by stock
holders. $ 11,375; charges, $18,896; deficit, $5,966. President, W.
A. C. McEwen; Secretary, McK. D. McKee; Treasurer. Richard S.
Storrs, 40 Wall Street, New York.—V. 67, p. 3; 1, 956; V. 68, p. 130.
Jefferson R R ,—Owns Lanesboro, Pa., to Carbondale, Pa., 37
miles double track; branch, Hawley. Pa;, to Honesdale, Pa., 8
miles. Leased in perpetuity to the Erie RR. Co. for $140,000 per
annum for main line and $14,940 for branoh. Used by Delaware & Hud
son to reach Carbondale. Stock, $2,096,050; all owned by Erie RR.
J oliet Sc N orthern In d ia n a R R .—Owns Joliet, 111., to Lake
Station, Ind., 45 miles. Operated as part of the Michigan Central sys
tem. Road opened in 1854 and leased to the Michigan Central. Stock
($300,000,
$100) carries dividends
of ^
8 Jper
cent
annum.
7UVV|VVVJ par ifiJLVv;
T
T-- —
------ xper
r---------------J u n ctio n R R . (P h ila d e lp h ia ).—Owns Belmont, Pa., to Gray’s
Ferry, Pa., about 4 miles. It connects the Pennsylvania, the Philadel
phia & Reading and the Philadelphia Wilmington & Baltimore railroads,
coming into Philadelphia, which three companies jointly guarantee
principal and interest of bonds. Stock $250,000 (par $50), is all held by
these
cos. uiviDmti/o—m
D iv id e n d s —in 1891
c., m
in xuo1892 v«/
35 p. v.,
o., in
LiiOoc three
uireeuua.
ao»/a 4Ö p. v.,
^ 1893
O
A vp.
. ,A
n 1
Q O /f 1 R n
n 1
Q Q fi n
ATI A • iin
n 1
. 1 5
R p
t i . f t . ! 1 8 Ö 7 . I r t l ) . Or.
30
c.;. iin
1894,15
p. nc.;• iin
1895,
none;
l8f t9Q 6f i ,1
.e .; 1 8 9 7 ,1 0 p. c.
K a n a w l i a Sc M ic h ig a n R y . —(See Map Toledo A Ohio Central.)—
Owns Corning, O., to Gauley on the Ches. & Ohio, 172 miles, less 17
miles, Pomeroy to Gallipolis, and 1 mile, Athens to Armitage, where C.
H. Y. & T. traoks are used. Also owns branch of 11 miles leased to*
Toledo & Ohio Central and Col. Shawnee & Hocking Ry. companies.
H is t o r y , E tc .—Reorganization in April, 1890, of the Kanawha &
Ohio Railway sold in foreclosure. (V. 50, p. 451, 483.) In Oct., 1890 ,
a large interest in the stock was acquired by the Toledo & Ohio Central,
which has guaranteed the bonds, principal and Interest. (See V. 52, p.
165, 351.) Capital stock $10,000,000 ($1,000,000 in treasury June,
1898). The first mortgage bonds are limited only to $15,000 per mile
of road constructed. June 30, 1897, loans aud bills payable, $137,226,
Balance, surplus...... $105,478
$3,502 $178,320
$69,964
L atest E arnings —5 mos., > 1898.... Gross, $258,956; net, $81,352
President (Sept., 1897), H. J. Morse. (V. 67, p. 3 6 7 , 371, 78 7 , 956.)
July 1 to Nov. 30.
) 1 8 9 7 ....Gross, 243,811; net, 74,369
Surplus over 5 months’ charges, $26,563 in ’ 98, agst. $17,004 in ’97.
J a c k so n v ille Sc St. L o u is R y . —Owns Jacksonville to Centralia,
A n n ual Statem en t .— Fiscal year ends June 30. In year 1897-98,
HI.. 112 miles. A reorganization July 1,1896, of the Jacksonville Louis
ville & St. Louis RR., foreclosed June 10, 1896. Road is operated in gross. $558,343; net, $152,443 ; int., taxes, eto., $138,149 ; bal., sur.,
dependently. As to voting trust (voting trustees, Robt. F. Kennedy $14,294. In 1896-97, gross,$470,488; net, $119, 335. (Y. 65, p. 1 0 2 1 .)
and J. H. Dunn), eto., see reorganization plan in V. 63, p. 30.
K a n s a s C ity R e lt R y . —From Argentine to Yalley of Blue River, 10
The first consol, bonds outstanding (trustee of both lsts and incomes miles. Stock authorized $2,500,000 (par, $100); outstanding
Penn. Co. for Ins. on Lives, eto.) may be increased to $650,000, but $100,000 (par, $100); owned one-half by Atchison Topeka
only to take up the Jacksonville Southeastern bonds. For the year & Santa Fe and three-tenths by Kansas City Fort Scott & Mem
ending June 30,1898, gross, $216,866; net. $51,732: interest, taxes, phis and two-tenths by Chicago Milwaukee & St. Paul. Double-tracked
etc., $£>6,022 ; balance, def., $4,290.—V. 63, p. 30, 880.
and used for a terminal road at Kansas City, being leased for 99 years
J a ck so n v ille T a m p a Sc K e y W e s t R y .—Line of road Jackson from 1888 to C M. & St. Paul and Atchison Top. & S. Fe (jointly with
companies) for payment in each case of 3 p. o. per annum of
ville, Fla., to Sanford, 125 m iles; Enterprise branch, 4 miles, other
Del and b ra n ch , 5 miles; Atlantic Coast St Johns <fe Indian River, cost of property used with equal proportion of cost of conducting
and maintenance according to wheelage. The m ort
Enterprise to Titusville, 37 miles; Sanford & Lake Eustis Div., Sanford transportation
gage is for $2,500,000. E arn in gs .—For year ending June 30,1897,
to Tavares, 29 miles; total J.T. & K. W., 200 miles.
gross $216,450; net, $140,797 taxes, $8,364; interest, $121,500
R e c e iv e r sh ip , E tc.—Receiver appointed Aug. 4, 1892. Receiver dividends (5 p. c.), $5,000. Pres’t, E. S. Washburn, Kansas City, Mo
isnow Joseph H. Durkee. The land grant was about 1,500,000 acres.
K a n s a s C ity C lin t o n Sc S p r in g fie ld R y . —Owns from Cedar
As to Florida Southern (see that company). Consols for $1,376,500 Junction,
Kan., to Ash Grove, Mo., 164 miles, and branoh to Pleasant
are recognized as valid. (See V. 62, p. 683.)
ttiii, Mo., 10 miles; total, 174 miles, but only 163 miles operated.
F ir s t M o r tg ag e C o m m itte e . E tc .—Winthrop Smith. Chairman, 517
Sto c k s , E tc !—Stock issued, $1,775,400 (par $100), one-half owned
Chestnut St., Phila.; H. A. Du Pont, Alfred S. Elliott, Henry N. PauL
Over four-fifths of the firsts had been deposited in April, 1896. Fore bv Kansas City Fort Scott & Memphis RR., whioh guarantees the
closure suit under first mortgage has been brought, and foreclosure bonds; due that company July 1,1896, $423,000.
A n n ual R e p o r t .—Fiscal year ends June 30. In 1897-8, gross ,
decree expected in Feb., 1899, and sale in April. Consols are repre
$339 447; net, $118,122; other income, $356; interest, $163,660;
sented by Simpson, Thacher & Barnum, New York. V. 64, p. 754.
balance,
for year, $45,182. In 1896-97, gross, $330,045; net ,
Sto ck —Stock July 1, 1892, was $3,010,000 of which it is said $104,683.deficit
I n *95-96, gross, $403,915; n et,$185,077.—(V. 6 1 ,p. 1 0 1 0 .)
the Florida Construction Co. owns $2,715,300.
K
a
n
s
a
s
C
ity
F o r t S c o t t Sc M e m p h is R R . —Owns main line from
E arn in g s .—8 months, >1898.............Gross, $229,410; net, $31,928
City, Mo., to Memphis, Tenn., 485 miles, with branches, 236
April 1 to Nov. 30. 5 1897.............Gross, 186,323; net, 11,686 Kansas
miles: total owned, 721 miles. Controls the Current River RR. (Willow
R e p o r t .—Report for year ending March 31,1898, in V.- 67, p. 479.
Borings Mo., to Grandin, 82 m.), owning $942,000 of its $1,606,000 stock
Cross.
Net.
Other inc.
Charges.
Balance Owns one-half capital stock of K. C. Clinton & Springfield and of K. C.
1897-98___$312,904
$36,045
$521
$173,331 def.$.136/763 Memphis & Birmingham RR.; also 300 shares Kan. City Belt.
1896-97___ 306,288
18,968
759
180,863 def. 161,136
r g a n iza tion .—Formed in April, 1888, by consolidation of the Kan.
1 8 9 5 -9 6 .... 317,278
def. 5,667
954
172,729 def. 177,442 0.OFt.
Scott & Gulf and Kansas City Springfield & Memphis railroads.
The charges in 1897-98 included taxes, discount, etc., $40,374
D iv id e n d s .—
*86, ’ 87, ’88, ’ 89, ’ 90, ’ 91, ’92, ’93.
whicn were paid, and interest on lsts (accrued), $132,960, not p a id
........... 4%, 4 1o, 31a,
3, 3 1«,
1,
0, 0,
i
On
common
—y . 64, p. 469,707,754, 888, 1 2 2 2 ; V. 67, p. 4 7 9 .
On p referred . . ___ _ 8%, 8,
8,
8, 8,
4,
8, 5.
(Since
J a c k so n v ille T e r m in a l R y .—Owns union freight and passen
B onds .—Consols are reserved for all prior bonds when due.
ger depots [the latter opened Feb. 1,1895,] and terminal properties at
G e n e r a l F in an ces .—On June 30,1898, bills payable were $25,000
Jacksonville, Fla., including 20 miles of track, used by Savannah
equipment bins $226,633. In 1897-8, $738,000 consol. 6s were is
Florida & Western, Florida Central & Peninsular and Jacksonville St. and
sued
to reimburse the company for K. C. Springfield & Memphis 6s
Augustine & Indian River (now Florida East Coast Ry.), which com
(paid
in cash May 1,1894), to retire $320,000 ten year notes and
panies guarantee by endorsement the principal and interest of above
$80,000
demand notes.—V. 67, p. 1304.
bond s; trustee, Metropolitan Trust Co., N. Y. Property is also used by
E arn in g s .—Including K. C. C. & S. and Cur. River, July 1 to Nov. 30:
Jacksonville Tampa & Key West. For year 1896-7, gross, $67,031; net
$7,803; other income. $35,735; total deductions, $39.425.
5 mos.—
Gross.
Net.
Charges.
B al.,su rp .
.. $2,033,684
$646,207
$579,907
$66,300
J a m e sto w n Sc C h au tau q u a R y .—Jamestown, N. Y., to Chau, 1898
|
1897
1
2
218
522
711,541
582,509
129,203
tauqua, 2 6 ^ miles; branch to Falconer, 3*2 miles; total, 30 miles.
I o w a C e n tr a l By.--O perates from Peoria, 111., westerly to Oska
loosa, la., thence northerly to Manly Junction, la., and branches, viz.
Leases —
Miles
Owns—
Miles
Iow a June., 111., to Miss. River. 89 Keithshurg Bridge over Miss.. 2hs
Miss. River to Oskaloosa, la .. 95 Track, Iowa Junct’n to Peoria. 3 1«
Oskaloosa to Manly Junction. .154
Total of aU....................... ....... 509
Branches to Albia, etc.............1 65
The Iowa Central & Western RR. was incorporated in Oct., 1898, in
the interest of the Iowa Central, to construct a line from Oskaloosa to
Des Moines, about 55 miles, touching Pella and utilizing the tracks of
the Wabash from Cordova to Des Moines. Extension is also proposed
from Belmond to Algona, 38 miles.
H is t o r y .—Reorganization (by plan in V. 44, p. 653) of the Central*
Iowa sold in foreclosure in 1887-88.
C a p it a l St o c k .—The preferred is entitled to 5 per cent (non-cunmlative), then common to 5, then both share prorata.—(V. 62, p. 548.)
D iv id e n d s .—On preferred stock in 1892 paid 1 per cent; none since.
B onds .—Mortgage trustee Mercantile Trust Co.; abstract V. 49, p. 582.
E arnings —5 months, ) 1898........Gross, $927,361; net, $253,384
July 1 to Nov. 30. 51897....... Gross, 816,200; net, 292,538
A n n u al R e p o r t .— Fiscal year ends June 30; report for 1897-98 was
in V. 67. p. 787. Soft coal tonnage in year 1897-98 was 670,950 (51
p. c. of total tonnage); 1896-97 was 611,796 tons; in 1895-96 was
584.003 tons, oeing 4*88 p. c.; ton-mile rate in 1897-98 was 0 94 cents,
against 0*88 cents in 1896-97; train load 1896-97,173 tons.
T ear ending J une 30.
1898
1897.
1896.
1895.
Av’ ge miles of road oper. 509
509
499
498
Gross earnings.................$1,868,349 $1,564,205 $1,839,708 $1,569,221
Net earnings (over taxes)
531,541
400,561
617,385
458,434
Tot. net reo’ts (inol.rents)
543,318
408,348
631,721
473,185
Interest, rentals, &c.. . . . .
375.892
374,792
373,163
378,347
Im p ro v e m e n ts.........
61,948
30,054
80,238
24,875
J a n u a r y , ltfl>9.j
RAILROAD
STOCKS
AN D
BONDS
? 3
76
INVESTORS’
SUPPLEMENT.
[V ol .
LXVIII.
Snbecrlbers w i ll con fer a great fa v o r by g iv in g Im m ed iate n otice o f a n y error discovered In these T a b les.
_________________ RAILROADS._________________
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
Tor explanation o f column headings, &c., see notes of
Par
of
When
Where
Payable,
and
by
Stocks —Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
whom.
Dividend.
K an sas City Ft. Scott A M emphis—( Concludedj —
Ft. Scott So’eastern & M.. 1st M., dr’ wn at 105.o* 103 1880 $1,000
$571,000
M. Sc 8. Boston, Nat. West.Bank Sept. 1, 1910
7
Short Creek & Joplin 1st M., drawn at 105.......o*
22 1880
1,000
94,000
7
M. & S.
do
do
Sept. 1, 1910
Memphis K. & Col. 1st M. (see text).................. c*
50 1884
1,000
492,000
7
M. & S.
do
do
Sept. 1, 1910
Kansas & Missouri RR. 1st m ortgage.... ....'**
26 1882
1,000
390,000
5
F. & A.
do
do
Aug. 1, 1922
Consol, mortgage ($25,000 per m.) not dr’n.NBo* 708 1888
1,000 13,617,000
6
M. & N. Bost., Nat. Webster Bk. May 1, 1928
Current Riv. KR. 1st mort., $20,000 p. m., guar.
81 1887
1,000
1,606,000
5
A. Sc 0. Boston, Nat. Union Bk. Oct. 1, 1927
Kan. C.& M. R’y A B ’dge lstM.g.,s.f.,dr’n at llO.o*
1889
1,000
3,000,000
5 g. A. Sc O. N. Y., Un. Tr. Co. Sc Bost. Oct. 1, 1920
Kansas Equip. Co. IstM . guar., s. f., red. at 110.
1889
1,000
761,000
5
J. <fe J. Bost., Nat.Webster Bk. Jan. 1, 1905
K an. O. Memph. A B ir. —Gen.M., $4,500,000, our.o*
1894 500 &c.
3,159,610
4
M. Sc S. Boston, Merch. Nat. Bk. Mch. 1, 1934
Income, non-cumulative. $7,000,000, our........ o*
1894 500 &0.
6,318,020
5
Sept. 1 2 hl p.c. pd. Sept. 1.1898 Mch. 1, 1934
Birmingham equipment M.,g.,gu. (red. at 110)..o*
1,000
1888
1,000,000
6 g• M. Sc S. Boston,~Merofi. Nat. Bk. Mch. 1, 1903
Memphis Equipment Co., guar., red. at 110.......o* —
1890
1,000
189,000
6
F. Sc A.
Boston Office.
Aug. 1, 1905
K an sas City A N orthern Connecting R R .—
1st mort., gold, $20,000 per mile, $3,000,000..o*
81 Text.
1,000
1,608,000
J. & J.
New York.
5
g.
Jan. 1, 1927
2d mort., income, gold, non-oum., $1,250,000___
81 Text.
1,000
1,206,000
N. Y., when earned.
5 gJan. 1, 192T
K an . City Northwestern—Mort., gold. See text..o*
1894 500 &o.
935.680
5 g. J. & J. N. Y., Merc. Trust Co. Jan. 1, 1933
K . O. A Om.—1st M. ($15,000 p. m.) g., lnt. gu.o*&r 194 1887 500 &c.
2,713,000
5 g J. & J. July, ’93, coup, last pd. Jan. 1. 1927
K an sas City Osceola A Southern —1st m ortgage...
1892
1,000
2,000,000
4
J. & J.
1942
Kansas City A Pacific—Seb Missouri K ansas & T e XAS. ’
K a n . C. Puts. A Qulf.—1st mort., gold.....................
1893
1,000 22,578,000
... .
5 g- A. & O. N. Y. Of., 1 Nassau, etc. Apr. 1, 1923
Equipment notes and lease warrants....................
2,079,365
To 1907
K.O. St. Jo.A Ooun.Bl.—Con. M. (Nos. 1 to 500pf.)o* 248 1877 100 &c.
5,000,000
7
J. & J. Boston, 2d Nat’l Bank. Jan. 1, 1907
1st Ms. Nod. and Tark. Val. RRs. s. f. (dr. at 100) .o*
62 1880
1,000
461,000
7
J. Sc D.
do
do
June
1, 1920
Funding notes..........................................................
. . . .
1893
480,000
J. & J.
Jan., 1907
Kan. City Suburban Beit—Stock.......... ....................
100
4.750,000
Jan.l
’98,1^%,
1st mortgage, gold.................................................. .. " 30 1890
1,000
1,000,000
6 g- J. & D. Phlla., Union Trust Co. June 1, 1920
Consol. Terminal Ry. of K. C., 1st M., gold.......o*
1892
1,000
750,000
5 g- F. Sc A. Phila. of., 400 Chestnut Feb. 1, 1922
Union Ter. RR. Co.lst M. ($2,000,000) g. guar .c*
10 1893
1,000
1,550,000
do
do
5 g- F. & A.
Feb. 1, 1923
Kansas City & Indep. Air Line 1st M „ gold, .c&r
5ifl 1892
1,000
300,000
5 g. M. Sc S. Phil., Prov. Life & Trust Mch. 1, 1922
K ansas City W atkins A Gulf—1st mort., gold......c*
98 1890 $ & £
1,967,400
5 g. J. & J. July,’95, coup, last paid Jan. 1, 1930
K an sas M idland—1st M., gold, $15,000 p. m. .M e o 107 1887
1,000
1,608,100
4 g. J. Sc D.
See V. 65, p. 925.
June 1, 1937
A nnual R eport .—Report for 1897-8 ln V. 67, p. 1304.
view to Kansas City, 24 miles over K. C. Osceola & Southern and K. 0.
Suburban B elt; total, 806 miles. Line completed to Port Arthur in
Tear end. JuneZO.
1898.
1897.
1896.
1895.
Qross earnings..............$4,595,085 $4,137,128 $3,991,694 $3,985,635 Sept.. 1897, when 785 miles were In operation.
Port Arthur is on Sabine Lake, 7 miles from deep water channel, to
Net earnings................. $1,405,748 $1,310,557 $1,209,695 $1,191,489
a ship canal Is under construction (5 miles finished in Deo.,
Interest ana mlsoell.. 1,248,004 1,260,223
1,147,139 1,099,278 which
1898), and expected to be completed in April, 1899. Until com
Balance, surplus.... $157,744
$50,334
$62,556
$92,211 pletion freight is lightered from Port Arthur to deep water ohann el—
see Y. 65. p. 1024. The ship canal is being built by the Port Arthur
Deficits paid on Current River RR. and Kansas City Clinton & Spring- Channel <fe Dock Co.—V. 65, p. 1072.
field RR. in 1897-98 was $75,239, not included above.—V. 67, p. 1304.
H istory .—Organized in 1889 under Laws of Missouri as K. O. Nevada.
K a n s a s City M em p h is Sc B irm in g h a m B R . —Owns from & Ft. Smith RR. and name changed Jan. 23,1893. See application
Memphis to Birmingham, Ala., 253 miles, and branches to Aberdeen, for listing on N. Y. Stock Exchange in V. 65, p. 473 and 824.
Miss., and Bessemer, Ala., 23 m iles; total, 277 miles.
In Deo., 1898, a consolidation plan was under consideration, the re
Stock , Traffic Guaranty , E tc.—The stock is $5,976,000; par, $100. sult of which would aoorue to the benefit of the security holders o f thn
The Kansas City Fort Scott & Memphis owns half the stock and gives a K. C. P. & G. The plan, it was bel ieved, involved consolidation w ith
traffic guarantee of 10 per cent of gross earnings derived from business the K. C. & P. allied lines, the K. C. & Nor., the Quincy Om. Sc K. O.
to and from this road, to be applied to interest. In 1894 the company and the Om. & St. L., and might provide for exchange of the present
5 per cent bonds for 4s and preferred stock.—V. 67, p. 1309.
was reorganized under plan of December, 1893.—(See V. 57, p. 938.)
STOCK.—Stock authorized, $23,000,000, $25,000 permile; par $100.
B onds .—On in com e bon ds 2 per cent w as p aid Sept. 1 ,1 8 9 7 , and 3
p er cent Sept. 1 ,1 8 9 8 .—V. 65, p. 367; V. 67, p. 428.
B onds.—First mortgage (see a b s t r a c t in V. 6 4 , p. 1 0 4 4 ) gold bonds
at $25,000 perm ile of main track and $15,000 per mile additional f o r
L atest E arnings .—From July 1 to Nov. 30 (5 months):
5 months.
Cross.
Net.
Charges.
Balance. seoond track were authorized in April, 1893, Interest on which until
1898................................ $552,079
$124,817
$79,958 sur.$44,859 April, 1897, was payable only if earned. To conform with State laws,
1897................................. 485,362
119,546
82,503 sur. 37,043 portions of the road have been built and are owned under the title of
the Texarkana & Fort Smith and K. C. Shreveport & Gulf, who? &
A nnual R eport .—For year 1897-8 in V. 67, p. 1304.
Tear.
Cross.
Net.
Other In c.
Interest. B a l.,S u r. stook and bonds are pledged to secure the K. C. P. <fe G. firsts. Mort
$362,509
$31,248
$198,085 ir$19&,672 gage covers equipment. Missouri Kansas & Texas Trust Co., o f K an
1897-8....... $1,399,168
sas City, Mo., and State Trust Co., of N. Y., trustees. V. 65, p. 367,463.
1896-7........ 1,241,393
315,183
25,790
198,085 ÏÏ142.888
Latest E arnings.—In April, 1897, road was completed to Shreve V N ote .—From surplus 1896-97 paid 2 per cent on incomes in Sept. port, 569 m iles; on July 1, 1898,was operating 806 miles to P o r t
1897,$126,745, and 2 12 per cent) In 1897-98, $158,431, leaving balance, Arthur. For 12 months ending Deo. 31, 1898, gross earnings were
surplus, of $37,241.—V. 65, p. 8 2 0 ; V. 67, p. 4 2 4 , 428, 1 3 0 4 .
$3,293,589, against $2,439,620 in 1897.
K a n s a s City Sc N orth ern C on n ectin g R R , - (See Map .)—
A nnual R eport .—Report for year ending June 30, 1898, given at
Line from Pattonsburg, Mo., to Kansas City, Mo., 75 miles, completed length in V. 67, p. 999, 1005, showed gross, $2,878,159; net, $738,*
March, 1898. Leases trackage, Plattsburg, Mo., to Kansas City, 40 977; other income, $1,452; interest and taxes, $893,755; bal. def.,
m. to St. Joseph & Grand I. Extension proposed to Gower, Mo.,10 ^ m. $153,326. In year ending Sept. 30, 1897, gross, $1,869,264; net,
Organization .—This road is owned by the Kansas City Suburban $615,849; net over taxes, $580,689. On Sept. 30, 1896, 395 milesBelt RR. Co., whose extensive terminals it uses at Kansas City. It were in operation, and on Sept. 30, 1897, 770 miles. President (Jan.,
connects the O. K. C. & E. RR. Co. and the O. & St. L. RR. Co. with the K. 1898), A. E. Stllwell.N.Y.; office, 1 Nassau St. See list of directors
O. Pitts. & Gulf RR. Co., making a new through route from Omaha and elected Oct. 28,1897, in V. 65, p. 869. (V. 67, p. 1 7 5 ,1 7 8 , 222, 483,
9 9 9 , 1 0 0 5 , 1054, 1110, 1309.)
Kansas City to the Gulf of Mexico.—See V. 62, p. 1177.
Securities .—Stook authorized, $3,000,000; issued, $2,814,000.
K a n sa s City St. J osep h Sc C ou n cil B lu ffs R R . —(S ea
Full particulars regarding bonds were in V. 62, p. 1177. Pres., A. E. M ap Chicago B urlington A Q.)—Owns from Kansas City to Council
Stilw efl—V. 67, p. 736.
Bluffs, 193 miles, branches 55 miles, proprietary lines (Nodaway Valley
K a n s a s City N orth w estern R R .—Road Kansas City to Vir and Tarkio Valley railroads), 62 miles ; total owned, 310 miles; leases,
ginia, Neb., 162 miles, of which Seneca to Axtell, 11 miles, and South 6 miles; leased to other companies, 7 m.; leaving total operated, 309 m.
Stock , E tc.—The capital stook (including Nodaway & Tarkio Valley)
Leavenworth to Leavenworth, 1 mile, are trackage, and 20 miles,
Summerfleld to Virginia, was formerly the Kansas City & Beatrice. June 30,1898, $6,029,493. Stook for $5,263,293 was purchased by theBranches, 12 miles. Total, 174 miles. A reorganization of the K. O. Chicago Burlington & Quincy in 1880, and the road is operated as part
Wyandotte & N. W., foreclosed Jan. 5, 1894. Stock, $3,500,000 (par of that system. Consols. Nos. 1 to 500, both inclusive, have a prior lien.
See description of mortgage in October, 1896, Supplement , page 1.
$100), controlled in interest of Missouri Pacific Ry.—V. 59, p. 152.
B onds.—Mortgage for $3,500,000 (Mercantile Trust Co., N. Y., D ividends .— ) ’ 90. ’91. ’92. ’93. ’94. ’95. ’96. (6 mos.)’97. ’ 97-98
2-99 5*9
trustee) issued in July, 1894. Of the bonds, $900,000 are series “ A,” Per cent....... J 3-07 7-40 6*90 8*65 8*00 4*89 3-74
" preferred” as to principal and interest, and are redeemable after 5
E arnings.—In year 1897-98 gross $2,249,269; net, $757,059; other
years at 105. Car trusts June 30,1896, $450,681.
income, $9,323; interest and rentals, $409,393; dividends, $355,740.
E arnings.—For year ending June 30, 1897 (on 174 miles) gross
K a n s a s City Suburban B elt R R . —(See M ap.)—R o a d —E x
$360,264; net, $78,464; other income, $7,343; total deductions, $97,from Seoond St. and Broadway around Kansas City, via the East
317; balance, deficit, $11,510. In 1896-7, net, $19,590. In 1898, Jan. tends
Bottoms
and the valley of the Blue and Brush Creek, providing
1 to Deo. 31 (12 months), gross, $338,394 in 4898; in 1897, $354,476.
terminal facilities for the railroads centering at Kansas City, ana
K a n s a s City Sc O m ah a R y .—Owns Stronburg to Alma, Neb., furnishes quick transit from the manufacturing suburbs along the
150 miles, and McCool Junction to K. C. & Omaha Junction, 44 miles. Blue Valley. By connection with Union Terminal RR., in Kansas City,
R eorganization —Reorganization Committee: Anthony J. Thomas, Kansas, this road also reaches the West Bottoms by a system o f v ia
Thomas B. Williams, E. Ellery Anderson, E. O. Benediot, Isidor Worm- ducts, and here makes direct connection with every road entering
ser and 8. L. Parrish; depository. Central Trust Co., N. Y. The road Kansas City from northwest, west and southwest. The St. Louis <&8.
was sold in foreclosure July 8,1896, and purchased by the committee F. RR. uses the terminals of K. C. S. B. RR. for entrance into Kansas
for $150,000. To make the purchase and for repairs, etc., the bond City, and the Belt RR. does its switching.
holders were assessed $100per bond. The K. C. & Omaha R ailw ay has
Organization .—In 1892-3 consolidated with Consol. Terminal Ry.
been organized, but complete reorganization will be deferred.—V. 64, Co., and bought entire capital stook of Kansas City & Ind. Air Line Co.
p. 567. The line was formerly in Union Pacific system.
Also owns all but $600 of the $2,000,000 stook of Union Terminal RR.
In July, 1898, had thirty-year contracts for the use of the Belt tracks
E arnings .—Since Nov. 1, 1896, operated Independently b y St. J. &
Or. Island under operating agreement.
with the Kan. City Pitts. & Gulf, K. O. & Nor. Con. (including Om.
Jan. 1 to Deo. 31 (12 months), gross, $251,489 in 1898; in 1897, K. C. & E. and Omaha & St. Louis), St. Louis Sc San Fran, and St. Jos.
$269,096. For year ending June 30,1897, gross, $196,026; net, $57,- Sc Grand Island; also contract with Chicago Gt. West.—V. 67, p. 125.
Dividend of 2 per cent in stook was paid Nov. 1,1893, and 2 p. o. in
590; total deductions, $137,140; balance, deficit, $79,550. In 1895-96,
stook in June, 1894; in 1898, Jan., H a p . o. Trustee of the Suburban
gross, $89,54% deficit under operating, $10,939. (V. 64, p. 567.)
Belt
mortgage is the Missouri Kansas St Texas Trust Co., of Kansas City.
K a n s a s City Osceola Sc S ou th ern R y .—Owns Knoehe Junc
Of the $1,550,000 Un. Term. 1st 5s of 1893 issued, $100,000 are
tion to Osceola, Mo., 108 miles; trackage, Kansas City Suburban Belt, held
in treasury of K. O. Suburban Belt.
4 miles into Kansas City. Extension Osceola to Bolivar, Mo., 39
E arnings .—Report for year ending June 30,1898, in (V. 67, p. 1105,
m., completed in October, 1898; total, 151 miles. Operated as a part
o f the St. Louis & San Francisco system from about Sept., 1898, under showed: Gross, $512,155; net, $237,216; interest and taxes, $202,875;
a 25-year traffic agreement. Stock, $2,000,000; par $100. Year dividend (lha p. o.) $71,250; deficit, $36,909. Jan. 1 to Deo. 31 (12
1896-97, gross, $127,305; deficit from operating, $20,222.—V. 67, p.372. months), grosB, $528,740 in 1898, against $392,914 in 1897. N. Y.
^rfOCEM
K a n s a s City P ittsb u rg Sc G u lf R R .—( See Map .)—Owns from office, 36 Wall St.—(V. 67, p. 1 2 5 ,5 7 8 ,1 1 0 5 .)
Grandview, 23 miles south o f Kansas City, to Port Arthur, 764 miles;
K a n s a s City W a tk in s Sc G u lf R y . —Completed in 1892 from
D e QuincyLto Lake Charles .L a , 18 m.; total, 782 m.; trackage Grand- Lake Charles La. northerly t j Alexandria, 9Similes; branohes 8
J à n ü a r -e , 1899,J
KAILKOAD
STOCE.S
AN D
BONDS.
77
INVESTORS’
SUPPLEMENT.
[V ol. l x v i h .
«January 1899.1
ttA H S O A D
STOCKS
AND
BOKBS
Subscribers w ill con fer a great fa v o r b y g iv in g Im m ed iate notice o f
why
*#
e r r o r discovered in th e s e T a b le s
RAILROADS.
Bonds—Prind INTEREST OR DIVIDENDS.
Miles' Date Size, or
Amount R ite peri When
pal, When Dae.
>Per explanation o f column headings, &c., see notes
of
of
Par
Where
Payable,
and
bv
Outstanding
Stocks—Last
on first p a geef tables.
Road. Ronds Value.
Cent. "Payable
Whom.
Dividend.
■Kentucky*<&Indiana B ridge —Stock.................. .
$100 $1,700,000
Receivers’ ■certi flea fees, $100,000............................
1894
50,000
•1st mort.,gold, $250,0©Q,-gu. toy1City of N. Albany
1881
1,000,000
M. & S. Sept. ’96, eonp. lastpaid Mar., 1911
2d mortgage, gold......................................................
£ g- A. & O. Apr.,
1889
600,000
’93, coup, last pd. April, 1919
« g' J. & D.
Terminal mortgage, gold..........................................
1886
400.000 «
J une,’93,coup, lastpaid
5 8.K eokuk A Des Moines —Preferred stock, 8 percent
162
100
1,524,600 See text. See text N Y., Ofllce, 13 Wm. St. Deo., 1916
Jan. 15,1895
1st mortgage, interest guar. C.R. I. & P ............. c*
162 1878 100 <&jo,
2.750.000
5
A. & O.
do
do
Oct. 1, 1923
K e o k u k A Western—Common stock, $5,000,000.......
148
100
4.000.
000 2
J. & J. N. Y., Cuyler, M. & Co. Jan.
3, ’99,1%
M ortgage motes of 1886,‘’ 94 and ’95.....................
275.000
6
Option
CJo.
le t mortgage, $2,500,000,4 per cent, gold. Hi pc* 255 1898
1,000
a)
A . & 'o . N. Y., Metropol. Tr. Co. Apr. 1,of1948
Kewaunee Green B a y A Western —1st m ortgage...c
1891
1,000
I
*
378.000
J. & D. N. Y., Office 40 Wall St. June 1, 1921
Kingston A Pembroke —lo t M., gold............................
113 1882
1,000
572.000
J. & J.
New York.
Jan. 1, 1912
Knoxv. A Ohio—1st mort., cold, guar, by rent. "C*<fer
66 1885
1,000
2.000.
000 i t
J & J N. Y., J. P. Morgan & Co. July 1, 1925
jJJalee. EriewSi- W e s te r n —Uom. stock, $20,000,p. m.
725
100
11.840.000
P ref, stock, 6 per cent toot cum.) ($20,000 p .m .). 725
100
11.840.000 5 in 1898 Q.-F. 15 N.Y. Office, 80'Br’dway.
1st mortgage, ($10,000 per mile) gold............... c* 725 1887
1,000
7.250.000
J. & J. N. Y., Chase Nat. Bank. Nov.15,’98,11*
Jan. 1, 1937
2d mort., for $3,625,000 ($5,000 per mile) gold.c 725 1891
K g>
1,000
3.625.000
do
do
5 S- J. & J.
July 1, 1941
.¡Lake-Shore., & M ic h ig a n S o u th e r n —Stock........
100 z 49,466,500 6^2 in
F.
<fe A. N.Y.,Grand Cent. Stat’n Jan
’98
Guar. 10 per cent stock (Mich. So. & No. In<L) ...
28,’99,3**
100
533,500
10
F. <fe A.
do
do
1, ’99, &%
Lake Shor® div. bonds (Buffalo to Toledo, O.)___c 258 1869
1,000
*989,500
7
A. & O. Coupons payable by Feb.
Apr.
1, 1899
Consol. 1st mort.smk.fund $250,000 yearly.c<fcr 859 1870
1,000 *8,671,000
7
IT
Treasurer at Gr’d
Consol. 2d mort.
do
..............................c&r 859 1873
July 1, 1900
1,000
*8,613,000
7
J.
&
D.
Central
Station,
Deo.
1,
1903
New mortgage, $50,000,000, gold.............. ,e*&r
1897 1 ,0 0 0 & C 28.811.000
3*2 g. J. & D.
N. Y.
June 1, 1997
Detroit Monroe & Toledo 1st mortgage,.guar...c *55 1876
1,000
924.000
7
F. & A. 1Registered Int. on
Aug.
1,
1906
Kalamazo <feWhite Pigeon 1st mort.. guar..........c
37 1890
1,000
400.000
5
J. & J. I con .lsta n d 2 d sb y' Jan. 1, 1940
Bat. Cr. & Stur. 1st M.,g.,guar. p .& i.(seeMiGen.)
41 1889
1,000
79,000
3 g. J. & D.
Union Trust: on
Deo. 1, 1989
Sturgis Goshen & St. L. 1st mort., g., p. & L guar.
29 1889
322.000
J.
& D.
new 3*28 by U. 8.
Deo. 1, 1989
Kal. Allegan & Gr. Rapids stock, rental guar.......
58
’ Too
610.000
5-95g ' A. & O. I Trust, N. Y.
¡le t mortgage, guaranteed....................................c
Oct, 1898
58 1888
1,000
840.000
5
J. & J. J
»Erie •&, Kalamazoo (l’ sed) st’k, Toledo to Palmyra
July
1, 1938
26
50
10
300.000
F. & A. N. Y., Gr. Cent. Station. Feb., ’99,
5%
'Clin. >&, Springfield 1st mort., p. & i. guar........ . , c
48 1871
1,000 x l , 000 ,000
7
A. & O. N. Y., J.P.Morgan & Co. Apr. 1, 1901
IT Interest on registered bonds is payable Q.~J.; on co upon bo nds J. & J.
After
deduct!
ng
amounts
deposited
u
nder
mortgage
________of 1897_____ x Additional to $1,000,000 guara nteed by C. C. C. & St. L.
z N. Y. C entrai h olds $45,176,500 of the
miles. Mortgage trustee, Farmers’ Loan <fe Trust Co. Stock author
K n o x v i l l e & O liio R R . —Owns from Knoxville, Tenn to Jellinn
ized $10,000,000—par $100. *On June 30,1894, stock for $1,967,400 Tenn.,
and branch, 69 miles. Operated by Southern Railwa-o-aa n„ , ,
was outstanding. In April, 1896, floating debt was about $100,000.
Interest has been in default since July, 1895. Henry B. Kane, as Re of lt 8m5y8tem- Stock Is $1,122,200; pa^ IlO o f 6 S o u t h e r n ^
^
1
>11^-300 of the stock nearly all pledged under Its consolidated
ceiver,' took charge March, 1898. (Foreclosure pending. (V. 67, p. 73.)
1894. E arnings.—Year ending June 30 lftQfi ««nao
Neto Y ork <Committee .—W. BL Male, D .Q . Eshbaugh and Theron G
$496,126; net, $224,863; interest, $120,000; balance,surplus, $ lo f,8 6 3 ’.
L a k e E r ie & W e s t e r n R a i l r o a d H R .—(SeeM an) —Owns a « n.
uio,pnuiumibv a
•uu., tiuuiiacipuiài. r or J
420 miles, and branch to Minster 10 miles$.141,897; net^$29,243, against $51,270 in 1895-96. (V. 67, p. 73.)
In^1Snapoii * t(>Michigan City, 162 miles; Fort Wayne to Connersville
J& ansas M id la n d R y . —Road from Wichita to Ellsworth, Kan. and branch to Rushville, 133 miles; total owned. 725 miles of w f f l
107 miles. Road opened in 1887. Leased in 1888 to old St. Louis & 701 steel; leased from Oct. 1,1895, the Northern Ohio RR ’ Akmntn
‘K'’ AKron ®°
San Francisco, .tout not included in reorganization o f that property. Delphos, 167 miles; total operated, 892 miles.
Operated ihy St.-Louis & San.¡Francisco since September 1 , 1898 * j H ist.°RY, E tc . Fonned in 1887 after foreclosure of the Lake Frie
Receiver is A.. L. Wolff, Wiehita, Kan. Sale was ordered in May, 1898 & Western Railway. (See V. 50, p. 590.) The terminals nt
SW-) •Capital stock, $3,004,200. First mortgage bonds Peoria, Fort Wayn\knd N e w / c ^
$1,608,000; income- 6 per cent bonds (at $10,000 per mile), $1,072 000
74 miles of trackage and terminal rtehts rel
St. L..& San-Frau, ow ns $2,026,850 of the stock and $688,000 incomes o+^^Yg.
° xi ^35,000 yearly. in September, 1895, purchased «the
—V. 65,^. Q25;\V. 6>S„p. 900.
stock o f the Northern Ohio, which was to be extended from its nresent
terminus, Akron, O,, to New Castle, Pa. (but work upon wh&hTad
S t, L o u i s I r o w M t . & S o u t h . R y . —See Mo. Pa g . R y . System .
been stopped in November, 1898), under the oharterPkf toe cieviv
, K a i u a s S o u t h w e s t e r n R y , —Arkansas Citv to Anthony, Kan
59 miles. A. ^reorganization in Dec., 1898, of the S t Louis Kans. & land & l^ew Castle R y.—which see. In Oct., 1898, $1 025 000 addi
tional
2d mortgage bonds were sold. V. 67, p 736 788* 842&<1a a
Southw. RR., sold Get. 22,1898. V. 67, p. 130;». Stock, $8 000 000
1
‘
’ 842, As
In Get,, 1898, all but 172 bonds o f the St. L. K. & S. had accepted to Pittsburg & Western, see V. 67, p. 1004!
offer o f .«t. iL.jfc-S,F\*of 18 shares o f Its common stock in respect of Dividends s in ce ’89 <Y ea r..1890. ’ 91. ’ 92. ’93 ’94 ’ 95 ’ qr ’97. ’98.
on preferred.— (P . ct.. 4
4 4% 5
5' 5' 5 ’
the elaimmf eadh~$I,000 bond and deposited bonds with Amer L & Tr
Co., Rostoa.--V.i67, p.il309.
On Jan. 21, 1899, no decision reached as to Feb. dividend. 5 5
K e n t u c k y & I n d ia n a B r id g e ,Co.—Owns steel cantilever bridge , Bond a—Abstract of first mortgage (Central Trust Comuanv and a 7 .
? VY* S ? :<% 10 iUv®r
Louisvüte and 5 miles of railroad between S
RohtUcteR%,inn 7 r ^ * P ' 4 # 2 d mortgage ( C e n t S s ^ o “ of N. YOi Sell of Ind., trustees), in y , 54. d 44 4 Onapant-Afla sso •
Loaisville, K y „ and New Albany, Ind., and 5 miles o f belt line in
Guarantees $2,
Lo iis ville ; also owns Louis. & New Albany Ferry Co. and N. Albany 500,000 Northern Ohio 5 s -s e e that company.
, Street CmmOo. The New Albany Belt & Terminalroad was acquired by
Latest E arnings.—For 9 months ending Sept. 3 0 ,1 8 9 8 :
j Louisv. Ev. ,&St. L ..in February, 1897. -V. 64, p. 423.
H
9
R eceivers .—Joha MacLeod, F. W. Tracy and S. M. Felton. Balt. * 2 J S S >6
$ 1 ,S ,6 4 2
.s S t T d t b o O
•<* ° hl°
W u l« 1« Southern Ry. and Louisville New Albany &
•Chicago ( bow 'Chicago Indianap. & Louisv.) have acquired a block of
the second mortgage .and terminal bonds for the purpose of controlline
-the property. See V . 6 2 , p. 1087 ; V. 63.p.yoo, 601. Foreclosure sale
A^™uf L R eport ^-Fiscal year ends Dee. 31. Annual meeting is held
ordered, subject to t o t m ort.—V. 64, p. 82; V. 67, p. 483, 634.
at Peona on first Wednesday in October. Annual report for 1897 was
™ J - 6 I ’ p' 121traffl0 is
distributed, only 6 per ^ n t
tu P ayments .—First mçrtgage interest due Sept. 11, 1896,
being coal. Average rate per ton per mUe in 1897 was 0-604 cent °eni
was paid Nov. 11,1897, at Louisville Trust Co. of Louisville Kv
Y
ear
end,.
Dec.
31.
1897.
1896.
1895.
1894
Jujie 30> 1898>gross, $271,036 ; net,
,s$86>069; charges, $ 109,50o; balance, def., $23,436. (V. 67, p. 634.)
.......... ^ ,4 39 ,3 9 7 $3,344,274 $3,519,104 $3,3457403
Net earnings............... 1,234,147
1,198,097
1,368,675
1,251,902
M o î n e8 R y . —Owns from Keokuk, la., to Des interest on bonds.......
492,500
471,703
467,500
ia >162 miles. Leased for 45 years from October 1,1878, to North.
455,333
Ohio int. guar..
125,000
125,000
+?g0
Island & Pacific Railway, the lessee to pay 25 per Dividends................... (5) 592,000
(5)592,000 (5)592,000 (5)592,000
pfthe gross earnings, but guarantees the interest (not the prin’emikiS?1
bonds. Stack is $1,524,600 8 per cent preferred and $2,
Balance, surplus.
$24,647
$9,389
$ 309,175
4100,400.common (par $100), a majority o f which is held by the lessee.
$204,569
-(V. 67, p. 1 2 1 ,7 3 6 ,7 8 8 , 1004,1309,1356; V. 68, p. 130.)
D ividends .— > 1893.
1894.
1895.
1896.
189,
Ou p re t p. c. 5
2-4
95 ets.
90cts.
None.
? ll,o r e A M ic h ig a n S o u t h e r n R a t l w a v . - ^ e e Man
RentaUer year to Mar. 31: In 1892-93, $151,700; in 1893-94, $151 - V. r . Central J —Operates from Buffalo to Chicago with branches The
624; in 1894-95, $137,500; in 1895-6, $139,521; in 1896-7, $137,500.
systfm weU shown on the map, is made up as below. Themato Une
K e o k .u k & W e s t e r n R R . —Alexandria, Mo., to Van Wert,Ta.. 143 (540 miles) includes 26 miles between Toledo and Palmvra Mieh
unyra, Mjcl1-*
miles; operates to Keokuk, 5 m.; Des Moines, Iowa, via Van Wert to under lease from toe Erie & Kalamazoo.
Road owned directly.
Miles.
Des'Moines & K. C.) 112 miles. Extension proLeased,
[Usee
this
<7o..]
posed from Cuinsville south to a connection with K. C. & Nor. Con. Buffalo,N. Y., to Chicago, 111..540 Kalamazoo A. & G. R ............M iles
58
? ^ Æ t„tons^urg’ ^i0- /.n August, 189 s, surveys had been completed, Sundry branches........................327 Jamestown & Franklin
51
and it was said construction would be commenced at once,
E ntire stock owned.
Mahoning Coal R R ....... .'.‘. '.‘. I
50
m 1895 the entire capital stock and bonds of the Des Moines & Detroit & Chicago (see below). 26 Erie
& Kalamazoo (26 m.)*"""Text
Purchased, »ad in April, 1898, the road was absorbed Detroit Monroe & Toledo........ 55 Detroit Hillsdale & S. W .'.T
65
i
A dvanceson account of Des M. & K. C. to Jan. 1, Kalamazoo & White P igeon... 37 Fort Wayne & Jackson___ 98
ÌL898, $400,000, Bills payable Jan. 1,1898, $755,000.
Northern Central Michigan___ 61
* uncling P lan.—K ew mortgage of 1898 (4s) provides for funding Sturgis G. & St. L ................
36
Grand tot. oper. Jan. 1, ’97.1,404
rcdebteduess o f company occasioned by purchase of D. M. & K. C
Also owns 8 miles. Silver Creek to Dunkirk, leased to N. Y. C. &St L
widening its gauge, and betterments thereon, and also from lime to
main line 490 miles has double track. By control of “ Nickel
time on K. & w. ime; also in settlement of tax suits V. 66, p. 1189.
Bonds are not subject to call. On Oct. 17, ’98, no bonds had been sold Plate the Lake Shore has still another line from Buffalo to Chicago. * 61
Org an ization , &c — A consolidation on Aug. 16 ,186 9 The w v nu a
DI^ L ND+S- ^ 18« 8Ì889-90.
1891.
1892 to Oct. 1897 incl. St. Louis (Nickel Plate) road has been oontroiled by ownerlhin of
*6r cent.
C l
o
2
2 n c vciirlv
In 1898, April, l p. c. In 1898 dividend periods were changed to J. |rcok since 1882, Lake Shore now owning $6,240,000 of its common1
$6.275,000 of its 2d preferred and $2,503,000 of its 1st preferreds took*
& J . In 1899, January, 1 p. c.
Iffie company also controls and leases toe Mahoning Coal RR fsee Lake
................ Gross, $528,689 ; net, $136,984 Shore “ System” below] and owns (besides the entire X c k oif the
E
m o^’ \ i
Jan. 1 to Nov. 30. ( 1897................ Gross, 534,448; net, 134,598 prietary lines) $2’ 675,6d6 Pittsburg & Lake Erie stock! A Vanderbilt
A nnual R ep ° rt .—R eport for year ending Dec. 31,1897, was in V- road having a large competitive business. The N Y C & H R r r
œ?â^jn^88,s^10<wln€,gros8’ ?^''*'^'^hl » net, $100,840 ; interest on notes, Co - m 1899 had acquired over nine tenths of the capital stock S
i i n ’nnn: o°,n8tructj° n and equipment, $19,089 ; dividends (2 p. o.) stated below. Dividend was increased from 3 to 3 ^ p. o.in J u ly ^ isb l!
balance, deficit, $17,552. In 1896, gross, $395,281 ; net, 1
8tock:-—The stock has remained at $50,000,000* since
$120,013. President, Thos. De Witt Cuyler. (V, 66, p. 1 233.)
1871. The guaranteed stock of $533,500 carries 10 per cent^dividends
K i n g s t o n & P e m b r o k e R y . —Owns from Kingston, Ont., Can., to Di ^ ? NDS-~^iYi5e l 1888 ’ 89 ’ 90 ’91 ’ 92 ’ 93-97 ’98
’99
Renfrew on the Can. Pac., 104 miles; branches, 9 miles In January,
1887.
P- C U 4
5
5 6 ^ 6 ^ 6 y'rly 6 ? To Feb , 3 ^
* ? 9n n n Y i n n P,6r plan in v - 67> P- 274, by which i
^Interest
on
the
eonsol.
t
o
t
mort.
is
paid
on
coupon
bond*
$1,000,000 (par f 50) first pref. 5 p. c. non-cum. stock (V. 67. p. 1309,
w i '/ .
remstered bonds Q .-J . The first eonsol. or bonds prior
Y‘ A 8, P-130) and $150,OOu second pref. 3 p. c. stock issued, floating rthereto
are
redeemed
each
year
by
$250,000
slnVtog
(,md
p r
œo
interest oil bonds reduced to 3 p. o. Common stock,
J.fimeTCn ™ nfm? ^ ge °7i 18T9Y (Uniled States oSust Cm. N .Y ., and
274^ 901^1309 Vî es, p i l o f ?™*’ 122,804 ; net’ ^21-142- <v - Q 7 > P- John T. Dye of Indianapolis, Ind., trustees,) is for $ 50.000 000 of 31«
per cent gold bonds, tax free, authorized to retire the several Isiueso
INVESTORS’
SUPPLEMENT.
[V
ol.
l x v iii
J a n u a r y , 1ÖÖ9.J
KAiLRO AD
STOCKS
AN D
BONDS.
81
Subscribers w i ll con fer a great fa v o r by g iv in g Im m ed iate n otice o f a n y error discovered In these T a bles.
RAILROADS.
Bonds —Prlnoi
INTEREST OR DIVIDENDS.
MUes Date Size, or
pal,When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
of
Par
Where
Payable,
and
by
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
L a k e Shore System—M ahoning Coal R B . —Stock....
43
....
$50 $1,500,000 10 in ’98 F. & A. N. Y., Gr*d Cent. Stat’n. Aug., ’98, 3%
Preferred stock, guaranteed 5 p. o. See text.......
43
50
661,850
5
J. & J. N. Ÿ., Union Trust Co. Jan.,’ 9 9 ,2 ^ %
1st M., Youngs, to And., etc., guar. p.&i.(end)...c
43 188*4
1,000
1,500,000
5
J. & J.
do
do
July 1, 1934
L a n ca ster <6 Ohester—1st mortgage.................. . . . . c
29 1897
500
25,000
7
J. & J.
Jan. 1, 1917
Leavenworth Term inal B y. <&B ridge —1st M., gold,
1893
1,000
600,000
J.
& J. N. Y „ Central Trust Co. Jan. 1, 1923
5
g.
L ear. Top. <t S. TF.—1st M., 1« guar. by At. & i«by Un. P,
*46 1882
1,000
1,380,000
4 g. J. & J. July, ’93, coup, last pd. July 1, 1912
Lehigh ¿H u d so n River —1st M.,g.,int.red’c’dto5p.o,
42 1881
1,000
800,000
5 g. J. & J. N. Ÿ., Nat. Exoh. Bank. July 1, 1911
2d mortgage, gold......................................................
63 1887
1.000
169,120
5 g. J. & J.
July 1, 1917
Warwick Valley 1st & 2d Ms. ($240,000 2ds)........ Text. ’79-’ 81 500 &c.
385,000
6
A. & O.
1900 & 1912
Wawayanda RR. 1st mortgage...............................
7 1880 500 &c.
65,000
6
J. & J.
Jan.
1, 1900
L .& Hud. R.Gen.M. $3,000,000, g. (see text) Ce.o* . . . .
1890
1,000
1,124,000
J.
& J.
5
g.
do
do
July
1, 1920
L ehigh <£*New Engl'd —Slate Valley RR., 1st morrt.. . . . .
1886 500 &c.
61,500
4
J. & J.
J
u
ly
,l,
1916
1st mort., $1,000,000, gold....................................
. . . . 1895
1,000
403,000
5 g- J. & J. Phila., 927 Chestnut St. July 1, 1945
L e h ig h V a lley —Stock ($106,300 Is 10 p.o. t .* ef.).
50 40,441,100
1893
1st mortgage, o. and r., extended in goldl jlI 898 i'o’i 1868
1,000
5.000.
000 4 g. J. & D. Reg.atoffice; op.Bk.N.A. June 1, 1948
2d mortgage..............................................................r 101 1870
1,000
6.000.
000 7
M. & S. Phila. Of., 228 So. 3d St. Sept. 1, 1910
Consol, mort., > coup. & reg.’, $4,762,000 4i«s.o&r 285 1873
1,000 10,400,000 41« & 6 J. & D. Reg.at oifice;cp.Bk.N.A. Deo.
1, 1923
$40,000,000, Sannuity, $2,538,000 are 4^8. F P 285 1873
1,000 12,350.000 41« & 6 J. & D. Phila.. Of.,228 So. 3d St. Irredeemable.
Mtge. and Coll, tr., g., call at 1071« ........ « P .c* & r
1897
1,000
4,925,000
5 g. M. & N.
Philadelphia.
May 1, 1997
Lehigh & N. Y y 1st M., $2,000,000, g., gu.p.&i.c**r 117 1895
1,000
2,000,000
4 g. M. & S. Phil.,Leh. Val. Of.&N.Y. Sept. 1, 1945
Leh.Val. of N.Y., 1st M., gold, gu. p. &l.(end.)c*<fer 283 1890
1,000 15,000,000
4*«g. J. & J. N.Y.,Merch.N. Bk.&Ph. July 1, 1940
Leh. Val. Ter., 1st M., gold, gu. p. &i., end. .C.c*<fcr
31 1891
1,000 10,000,000
5 g- A. & O.
Oot. 1, 1941
Easton <feAmboy,1st M.Easton to P.Amboy,gu. V
60 1880
1,000
6,000,000
5
M. & N. Phila., Of., 228 So. 3d St. May 1, 1920
Easton & No., 1st M., gold, guar, by L. Val..o*<fcr
12 1895 500 &c.
51,000
4*«g. M. & N. See Off., 228 So. 3d St. Nov. 1, 1935
Delano Land IstM ., gold,guar., s. f. +30,000 y’ly
1892
1,000
1,141,000
5 g- J. & J.
Jan. 1, 1932
Middlesex Valley, 1st mort., $600,000, gold___c'
"22 1892
1,000
375,000
5 g. M. & N. N. Y., Central Trust Co, Nov. 1, 1942
Penn. & N. Y. Can. & RR.—1st m., endors.. ,o*&r. . . . .
1866
1,000
1,500,000
7
J. & D. Phila., Bk. N. America. June 1, 1906
Consols (seetext) guaranteed p.& i.(end.),G P r
1888
1,000
8,500,000 4, 4hi, 5 A. & O. Phila.. Lehigh Val. RR. Apr. 1, 1939
Elmira Cortl’d & No. lstp ref. mort., gold........ o* Ï20 1884
1,000
750,000
6 g< A. & O.
Apr. 1, 1914
1st M., gold, guar. p. & I. (end.)........................... 120 1884
1,000
1,250,000
5 g. A. & O.
Apr. 1, 1914
Cana.No.lst M., g.,gu.p.*i.by E.C.&N. (V.66,p.b2) . . . .
1886
300,000
do
do
6 g- J. & J.
July 1, 1906
Morris Canal stock, 4% guaranteed 999 years.... . . . .
••••
"*iö6
1,025,000
4
F.
&
A.
Phil,
office,
228
S.3d
St.
Feb., ’99, 2%
Preferred stock, iO p. c., guar. 999 years._____
—
100
1,175,000
—
10
F. & A.
do
do
Feb., ’99, 5%
uitu,urmg iroiu is u s to jiaud isee a b s t r a c t in V. 64, p. 1 1 8 2 ) son Junotion to Maybrook,N.Y., on P. R. & N. E. (Poughkeepsie Bridge.
amounting to $43,192,000, and the balance, $6,808,000 for use in re 13 miles; S. E. & P. RR., Phillipsburg to Easton, 1 m ile; trackage,
funding said bonds and for general purposes of the company. The
mortgage covers 829*54 miles o f main line and branches—a consid Penn RR.,Balvidere to Phillipsburg, 13 miles; total oper., 90 miles.
Securities .—Stook, $1,340,000; par, $100. Warwiok Valley 1st
erable portion being double tracked—and 181*11 miles of leased lines
The refunding o f the first 7s into new 3% per cent consols will effect mort. covers 15 miles of road and bonds mature October 1 ,1 9 0 0 : 2d
a saving in interest charges, when entire $50,000,000 are outstand monM?,ge cov®r,8 22 “ »ties and bonds mature April 1, 1912. Loans
ing, o f $1,273,440 a year. See refunding plan in V. 64, p. 469. 610. ajnl bills payable Sept. 30,1898, $10,000; car trusts, 6s, $46,000.
The general mortgage is for $3,000,000, of which the amount out
and also V. 66, p. 82; V. 67,(p. 956. To Nov., 1898, $28,166,000 of
standing was increased in 1898 from $584,000 to $1,124,000 to nav
3!«s had been listed.—V. 66, p. 1140; V. 67, p. 1110.
the
floating debt, aud in exchange for $40,000 second mortgage
G uaranties .—A s to guaranties additional to those shown in table bonds.
A t the same time, of the $1,124,000 outstanding $1,062.above see Detroit Hillsdale & S. W. and Fort Wayne & Jackson.
000 were guaranteed jointly, prin. and interest, by the Cent. RR.
G eneral F inances.—Nothing has been charged to construction or o fN . J. and Leh. Coal & Nav. Co. An additional $1,535,000 are re
6Quipni6iit account since 1883, tlic outlays charged to operating ex* served to take up prior liens and $330,000 for extensions oracau isipenses for new equipment amounting in 1897 to $349,280, and in 1896 tions of connecting roads. See form of guaranty, etc. in V. 67, p. 788.
to $816,302 and for construction to $245,179 in 1897, against $126,L atest E arnings .—3 months ending Sept. 30 :
223, these items being exclusive of expenditures for renewals. Profit
2 a a®aNet.
Int.,tax.,etc.
Balance.
and loss surplus Jan. 1,1898, $7,551,832. Low grades permit large 1 Qos?0nth8~
? § 98................................. $90,933
$42,855
$35,841
$7,014
train loads ; average for 1897, 321*1 tons, against 321*6 in 1896.
54,844
33,631
21,214
In Jan., 1899, $24,918,500 of the $43,192,000 7 per cents due in 1903 1897................................. 98,412
earlier, and outstanding in June, 1897, had been retired and
A nnual R eport.—Fiscal year ends June 30. Report for 1897-98
$28,811,000 new 3his issued, thus reduolng fixed charges $735,910 per was in \. 67, p. 1259; coal and coke formed 53 p. 0. of total tonnage.
annum, or l i « per cent on the capital stock.
Gross.
Net.
Orange 0 ». Net. Charges. B al..S ur
majority of the capital stock was purchased by the ,
$180,336
$2,830
$143 842 $39 32*4
N*.Y * £ & H. RR., which gave in exchange its 31« p. o. bonds at the 1897-8. ...$366,756
144,694
*
53
142,095
2,652
rate of $200 in bonds for $100 in stock, and offered to take the minor 1896-7 . . . . 3271078
G r in in Burt, President, 80 Broadway, N.Y. City.—V. 67, p. 788,110,
ity interest on the same terms. These coll, trust 3i«8 of 1898 (author
ized issue $100,000,000) bear interest from Feb. 1,1898, and are se
cured by deposit in trust with Guaranty Trust Co., mortgage trustee,
L e h ig h dc N e w E n g la n d R R . —Operates road from Slatington
o f L. 8. & M. 8. stock at the rate of $100 of stock for each $200 of » 0« to y.ampbeH Ha11. N7Y., 96 miles, of which three seotions. aggrebonds outstanding. (V. 66, p. 288.) In Oct., 1898, $45,176,500 stock gating 44 miles, belong to other companies, leaving 52 miles owned.
had been exchanged. (V. 66, p. 1237.)
SLU8<1,
W. operates New Jersey Division (Campbell Hall to
A nnual R eport .—For 1898 (partly estimated) was in V. 67, p. 1354: Hainesburg, 61 miles), and Lehigh Valley RR. operates Pennsylvania
Y ear end. Dec. 31—
1898.
-1896.
—~
af')inesHllrg i ° Slatbigton, 35 mUes.) Campbell Connecting
1897.
Total gross earnings............ $20,738,900
$20,297,721
$20,193,957 RR. .(leased) issued on its 4 miles $500,000 of 1st M.50-year 5s due 1939.
Oper. exp. & taxes............. 13,926,172
13,542,491
H ^ tort . - A reorganization July l , 1895, of the Pennsylvania
13,726,155
Poughkeepsie & Boston, sold in foreclosure Deo. 14,1894.
Net earnings................. $6,812,728
$6,755,230
$6,467,802
SEccRiTiES.—Stoclr is $1,500,000, par $50. Mortgage is for $1,000 Net, incl. oth. income____)
(
$7,150,851
$6,822,614 000, of which $625,000 for improvements and exten’s.—(V. 62, p 134 )
Rentals paid...................... £ $2,820,000 <
635,895
629,119
Loans
and bills payable June 30,1898, $107,719.
(
Interest on debt.............. j
2,716,348
3,117,745
G.3*—For year ending June 30, 1898. gross. $71 049* net
Divid’s on guar, stock............................. 53,350 53,350
53,350 $10,927; charges,
$9,189; balance, surplus, $1,738.
*
’
Dividends............................ (7)3,409,305
(6)2,967,990
(6)2,967,990
V a lle y R R . —( See M ap)—Main line, Jersey City, N. J.. on Sturphis over d i v s ...........
$530,073
$777,268
$54 410
posite Nl Y. City, to Buffalo, N. Y., 444 miles; branohes to Audenried,
the 13>662,419 tons carried In !896, coal and coke con- Tomhioken, Hazleton, &o., 732 miles ; Lehigh & New York RR., 1 1 5
tributed 31 per cent, ores 9 p. c., grain 7 p. c .—(V. 67, p. 1055,1110, m ues; State Line & Sullivan Railroad, 24 m iles; total main line, 1 315
1 3 5 4 .)
*
™b®8;
®^®*’ | 53 “ ri®8* Total system 2,168 mUes; second
L a k e Shore System .—M a lio n ln ^ Coal R R .—Owns from track, 569 miles. Trackage: Penn. RR., 13*6 miles; N. Y. Central. 15
Youngstown to Andover, O., and branch, 50 miles. Leased in per- miles; sundry trackage, 34*9 miles.
'
for
of Sr088 earnings to Lake Shore, wliioh Jan. 1, ftf^ I8i-°5 J ’ ETC.—In. Marph, 1897’ arranged with J. P. Morgan & Co.
1898, owned $865,900 oommon and $399,500 preferred stock
® P * Y* £or a gonerai readjustment of finances, including the holding
D ividends . - >1889. '90. '91. '92. '93. '94.
'95 to A u g .,’98.
ot /« t in g power for a iarge block of the stock.—See V. 64, p. 517
^
° ^ mm0pn - i 4 y /o„ 5
412 81«
8
8 10 (Feb.7%,Aug. 3%) 754. For list of securities owned see V. 66, p. 187.
Preferred stock certificates are 5 p. c. guaranteed and contain „
P roperty —
. The Lehigh Valley RR. Co. owns 3,619 acres o f
a clause making them redeemable at par at option of companv
lands and all the ($650,000) stook of the Lehigh Valley Coal Co.,
For 1897, rental, $280,474; surplus over int. and 10 p. 0. on com and coal
which in December, 1893, owned anthraoite coal and surface lands:
5 p. c. on pref., $20,854. In 1896 rental $268,396. (V. 66 , p. 8 9 7 .)
, .
Total acres. Goal acres.
list'd, yield .
# t a n c a s t e r & C h e s te r R y . —Narrow Gauge—A 3-foot gauge road Owned in
fee..................... 15.217
7 242
124 nnft nno
Lancaster, S. C., 29 miles. A reorganization in A u g , Perpetually leased........... 8,123
5^741
lll!ooo!ooo
M a6’
9 i e8^ r 5?** foreclosed. Stock $50,000; par, Term leases. . . . . . . . . . . . __ . . . . . . . 1,708
17 0 8
47*000*000
$50. Vice-Pres., W. H. Hardin, Chester, 8 . C.—V. 63, p. 458.
V
Controls through stock owned.. 9,229
4*,519
50 |000*.000
L ea v e n w o rth T e r m in a l R a ilw a y & B rid g e .—Owns high
Tr9»merieA 547 Aally capacity about 80,000 tons. (V. 62, p. 364.) The
w ay and railroad bridge (opened Jan. 1, 1894), 1,110 feet long, over S
S fcitoa Coal Co. (chartered in 1896) stook is owned and its $2,000,Missouri R iverat Leavenworth, Kan., and valuable terminal property uo„u
, tlr*t mortgage 5s also owned are guaranteed—see V. 64, p. 137 .
in that city. The mortgage contains a sinking fund provision. Kanaar
f i i ' * »iripped from ooUieries owned 2,609,126 tons in 1897
aas City St. Joseph & C. B. (Chicago B. & Q.) and Chicago R. I. & P 98, O
2,613,725 tons m 1896-97, 2,819,757 tons in 1895-96.
use the bridge at an annual rental of $16,000 each, under a 30-vear
contract from 1894, and Chioago Gt. Western from Sept. 1,1895 for 30 Since’ 85 NIp 7 it ] ’ 8f - TZ- ’I 8' ’ 8k9’ *30’ *91* *92 *93* none
smoe 85. P. ct. ) 4
4 1«
5 5
5
5
5^4 4
since.
years; rental $17,500. Capital stock, $600,000. (V. 61, p. 556.)
$1)^’00,0’00i ) m ortgage and col. trust j s of 1897 were auL ea v en w o rth T o p ek a & South W e ste rn R y __ Owns from
Leavenworth to Meriden Junction, in Kansas, 47 miles. C. T. McLellan
n
o
n
f or floating debt and for future improvements,
?“ay bear a lower rate of interest than 5 per cent)
6 erTOd, for improvements or acquisition of stocks or bonds o f
m v L ® « S e8nat $1,000,000 a year after 1900. The mortgage
~ Jie£8 V9 *,69 ™Ue8 ,o£ single track, including branohes and sidfiigs,
H*a’ 5nd a.l®c stocks and bonds of various com , rJ 'e^ aM<?a S p r in g s R a i l w a y . —Chatham, N. Y., to Bennington, naliiesta Tei>o
Valley bonds with lien prior to these bonds may be
Vt., 51 miles. Operation discontinued on July 30, 1897, by order of
prlor 1len b®nJ8 issued, but not to increase the aggrei&rlw S11!1111168'ioners, owing to unsafe condition, but reopened Deo. 14
1^
or ra,t© o f interest of such bonds exoept as provided
between Berlin and Petersburgh Junction, 11 miles. In Nov.,
S ° E gag0; , Ll8t of collateral pledged to secure
reported to be purchased by parties who also acquired
o
?
^
3
a9t
^
veni
I
i y ; 6®’ P* H 1 4 —see also V. 66, p. 187. The bonds
■control of the Rutland RR.—V. 67, p. 1055. Capital stock $1,340,000. are subjeot to oall at
1071« p. o.—see “ General Finances ” below.
Receiver appointed April 22 , 1897; Elnathan Sweet is now receiver
Receive* s certificates, $20,000, have been issued. In year 1896-7* p F U«
f Northern -RN.—Road from Belfast to Easton
8 miles; branch to Lehigh Valley RR. at South Easton, 4 miles,
gross, $48,168; def. under oper. exp., $240.—V. 67, p. 1055.
*
Capital stock is $300,000. Lehigh Val. guarantees bonds. (V. 62, p.135.)
Rn
M y .—Owns from Greycourt, on Erie
Cortland A N orthern NR.—This road, with the Oanastota
N* Jy<mthe Pennsylvania RR., 63 miles, Proprietarv
lin es. Orange County RR. (entirestookowned—no bonds issued),Hud- Northern, runs from Elmira to Canastota and Camden, N. Y., 140
miles. The stook, $2,000,000, is owned—V. 62, p. 364,1177.
IN VESTONS» SUPPLEMENT.
[V ol . l x v i i i
J a n u a r y , 1%9.J
KAILROAD
STOCK»
a
KD
KONDS.
8 »
Subscribers w ill confer a great fa v o r by g iv in g im m ed ia te notice o f a n y error discovered In tbese T a b les.
nomi#—rn n u j
RAILROADS.
INTEREST OR 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
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Leh. "Valley -(C o n .) —Snow Shoe, 1st M., not guar.r
L.V.CoaICo.l8tM.$12,000,000,g.s.f.,not dm.o*&r
L. V., gold, car trusts, $50,000 due each F.&A.c*
Car trusts, $500,000, due $25,000 each F.&A___
Lexington A East'n —1st M., $1,000,000, gold. Ce.c*
General mort., gold; incomes to F eb.l, l900.C o.r
L ittle K anaw ha— 1st mort., gold, $15,000 p. m .K .
Little Miami—St’k,com.,gu.8 p.c.,99 yrs.,P.C.<&St.L.
Renewal mortgage.................................................c
Betterment bonds ($3,000,000) convertible........
Little Schuylkill Nav. RR. A Coal—Stock (rental gu.)
L o n g I s la n d —Stock...................................................
2d mortgage............................................................o*
Consol, mortgage, gold, $5,000,000.......................
do
do
do
, ....................
General mortgage, g o l d ...............................Ce.c*
Metropolitan Ferry Co. 1st M., gold, red. at llO-c*
L. I. RR. M. on ferry for $2,750,000, gold..C e.c*
Mortgage bonds of 1932 for $500,000, gold........
Debenture ($1,500,000) gold, not subject to call..
New York <fe Flushing 1st mortgage, assumed—
Brooklyn <&Montauk 1st M., $250,000 are 6s...o*
2d M., g., assum., Bush. Sta. to Eastp. <fe b r s .c
Long Island City & Flushing 1st M,. assumed..o*
Consol, mortgage gold, assumed..................... oy
L eased Lines , P rincipal or I nterest Gua
New York & Rockaway 1st mort., int. only guar..
Smith. <fe Pt. Jefferson. 1st mortgage, guar. p.& l..
L.I. RR. No. Sh.Br.cons.M. $1,500,000,gu.p. &i. o*
N. Y. Bklyn <&Manh. B. 1st consol. M.g., gu. p. & 1.
N. Y. Bay Ext. RR. 1st M. gold, gu. p. <&i „ end..o
....
....
....
....
....
92
....
....
84
84
28
155
156
156
163
....
....
18
....
2
76
76
12
19
.
$400,000
$500
5 g. J. & J.
1893 l.OOO&o 11,637,000
5
J. «fe J.
1896
1,000
750,000
5
F. «fe A.
1896
400,000
5 g- F. <& A.
1.000
1895
1,000
1,000,000
5 g- J. «fe J.
1895 1,000* c
1,500,000
5 g- F. «fe A.
1898
1,000 None Oct.’S8
5 g- J. «fe J.
....
50
4,943,100
Q.—M. t o
8
1882
1,000
1,500,000
5
M. «fe N.
1892
714,000
1,000
7
A. <& O.
....
2,487,850
5
50
J. «fe J.
50 12,000,000
1878 100 «fee
268,703
7
F. <fe A.
1881
1,000
3,610,000
5 g. Q .-J .
1881
1,000
1,121,000
4 g- Q .-J .
1888
1,000
3,000,000
4 g- J. «fe D.
1887 50Ó &o
1,250,000
5 g. M. «fe N.
1892
1,000
1,500,000
4 1«g. M. «fe S.
1892
1,000
325,000
4 g. J. «fe D.
1894
1,000
1,500,000
5 g* J. & D.
1880
1,000
125,000
6
M. «fe S.
1881
1,000
1,000,000 5 & 6 g. M. «fe S.
1,000
1888
600,000
5 g- J. «fe D.
1881
1,000
600,000
6
M. «fe N.
1887
1.000
650,000
5 g. M. «fe N.
RANTE ED.
9
18
30
19
6
1871
1871
1892
1885
1893
500
500
1,000
1,000
1,000
Lehigh "Valley R ailw ay Co. o f New York .—Owns Buffalo, N. Y., to near
Sayre, Penn., 175 m. double track, ard branches to Ithaca, Auburn,
eto., I l l miles; total, 283 miles. Stock all owned by Lehigh Val. RR.
Mortgage abstract inV. 51, p. 114. (V. 65, p. 412,1071.)
Lehigh Valley Terminal Railway. -Owns double-track road from South
Plainfield, N. J., to Jersey City, with about 125 acres at Jersey City and a
large water front there, etc.; its stock of $10,000.000 Is owned by LeVafley RR. (V. 53, p. 640, 880.) Car trusts $1,000,000.
Middlesex Valley .—Naples to Geneva, N. Y., 29 miles. Bonds due
1942, guaranteed, principal and interest (endorsed).—V. 62, p. 134.
M orris Canal. — Leased for 999 years and dividends guaranteed.
Bonds all owned by Lehigh Valley. See V. 50, p. 137.
Pennsylvania A New York Oanal A Railroad .—Leased for 99 years
from December 1,1888, to Lehigh Valley, which has assumed its debt
and owns all its stock. Consol, mortgage bonds of 1888 are reserved to
take up prior bonds when due. The consols include $4,000,000 of 5
per cents, $3,000,000 of 4s, $1,500,000 of 4 1as.—V. 62, p. 950.
Lehigh A' New Y ork.—N. Y. State Line near East Waverly to Fair
haven, on Lake Ontario, 115 miles.—V. 61, p. 558, 750; V. 62, p. 134.
Rochester Southern BE.—Rochester to Hemlook Lake, N. Y ,, 30-16
miles. Controlled through ownership of stock. Capital stock is $800,000 (par $100); funded debt $425,000.
Lehigh Valley Coal Co.—See* Coal Property” above.
Car T rusts.—For 2,COO box cars of 60,000 pounds, in 1896
were issued $1,000,000 oar trusts, maturing $50,000 each Feb. 1 and
August 1 to Feb. 1, 1906, inclusive: mortgage trustee, Girard Life
Ins. Annuity <fe Tr. of Phila. The $500,000, series of 1896, cover 1,000
ooal cars and a number o f stock and combination cars.—V. 62, p. 1087.
G eneral F inances.—In March, 1897, $8,000,000 mortgage and col
lateral trust gold 5s were authorized (issue.to be increased to $15,000,000 after Jan 1,1900); $5,000,000 of these were sold to J. P. Morgan &
Co. to provide at once for floating debt, new construction and working
capital, and $3,000,000 may be so used during the next two or three
years and $1,000,000 a year for seven years after 1900. -V . 64, p. 754.
Real estate mortgage«. $346,352. The reduction of interest to 4 p. o.
on the 1st 6s, extended in 1898, will save $100,000 yearly.
A n nual R epo r t .—The fiscal year ends November 30. The report for
1897-98 was given in V. 68, p. 82,126 ; see also editorial, p. 105.
Y e a r e n d .N o v .3 0 1898.
1897.
1896.
1895.*.
Earnings from coal. $8,436,392 $8,560,418 $8,623,574 $8,470,859
Miseel. freight......... 7,571,978
7,403,471 7,472,104 6,849,062
2,672,547 2,556,536 2,316,540
Passengers............... 2,718,859
Mail, express, e tc...
1,015,310
922,630
989,683
927,993
Total gross........ $19,742,538 $19,559,166 $19,641,897 $18,564,454
Op. exps.,mc.rentals 14,188,228 14,413,330 14,710,895 14,028,453
Net earnings.... $5,554,310 $5,145,836 $4,931,002 $4,536,001
•Other income............ 1,244,945
1,036,288
676,159
898,346
Total net income $6,799,255 $6,18',124 $5,607,161 $5,434,347
State taxes...............
360,000
360,000 )
Bal. of int. account.
19,853
25,117 > 673,366
589,694
Loss Mor. Canal,etc.
230,073
239,935)
Int. and reniais....... 4,844,166
4,744,205 4,484,033 4,294,380
Int. Leh. Val. Coal.
831,058
710,204
590,650
596,625
Total charges... $6,325,154 $6,079,461 $5,748,049 $5,480,699
B alance..................sur.$474,104 sr.$102,663 df.$140,888 sur.$46,217
The report for 1898 as above does not include the coal properties,
for the improvement of which $700,649 was expended in the year and
on whose operations, etc., there was a loss of $442,159; total debit,
$1,142,807.
President (July, 1897), Alfred Walter. Finance Committee: Alfred
Walter, E. T.Stotesbury, C. H. Coster, E. P. Wilbur and Joseph Wharton.
—(V. 67, p. 530, 1207, 1309; V. 68, p. 8 2 , 1 2 6 , 1 32.)
L e x in g to n Sc E astern R y ,—Owns from Lexington, Ky., to Jack
son, Ky., about 92 miles. A reorganization of the Kentucky Union
sold in foreclosure in March, 1894. Stock is $500,000; par, $100. Gen
eral mortgage, $2,500,000, of which $1,000,000 reserved to retire the
firsts. 1 p. o. was paid Aug. 1,1898, on gen. mort. bonds. Loans and
bills payable June 30,1897, $37,131.
E arnings.—11 months, 51898 .......... . Gross, $232,815; net, $85,197
Jan. 1 to Nov. 30.
( 1 8 9 7 ...........Gross, 188,772; net, 61,443
Year ending June 30,1898, gross, $205,723; oper. expenses and
taxes, $146,855; interest on bonds, $65,000. (V. 59, p. 697.)
L im a N o r t h e r n R y .—See D etroit <fe L ima Northern R y .
L ittle K a n a w h a R R .—Parkersburg, W. Va., to Palestine, 30
miles, thence by steamer, 4 miles, to Enterprise, continuing thence
to Crest on; total. 52 miles. Line operated from May, 1898. Projected
to Burnsville, W. Va., making in all 112 miles. Stock, $2,000,000
authorized; issued July, 1898, $426,000; par $100. President, H. C.
Jackson; Secretary and Treasurer, C. L. Williams.
L itch field C arrollto n Sc W e ste rn R R . —Owned Barnett to Co
lumbiana, 111., 52 miles. Sold under foreclosure Nov. 26,1898 (V. 68,
250,000
75,000
1,425,000
1,726,000
200,000
7
A. <& O.
7
M. «fe S.
5 g. Q .-J .
5 g. A. <& O.
5 g. J. «fe J.
Philadelphia.
N. Y. and Philadelphia.
Phil.,Girard L.I.A.«feTr.
Philadelphia.
N. Y., J. K. Tod <fe Co.
1 p. ct. paid Aug.. 1898
Cinn., Office, IstNat.Bk.
N. Y., Bank of America.
do
do
Phila., Of., 410 Walnut
N.Y..U.S. Mort.<& Tr.Co.
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
Jan. 1, 1910
Jan. 1, 1933
Feb., ’99-190«
Feb., ’99-190«
Jan. 1, 1900
Feb. 1, 1935
Jan. 1, 1948
Deo. 1 0 ’ 98,2%
Nov. 2, 1912
Apr. 1, 1932
Jan. 12,’9 9 ,2 ^
Nov.2,’96,1%
Aug. 1, 1918
July 1, 1931
Aug. 1, 1918
June 1, 1938
Nov. 1, 1937
Moh. 1, 1922
June 1, 1932
June 1 1934
Mch. 1, 1920
Moh. 1, 1911
June 1, 1938
May 1, 1911
May 1, 1937
Apr.
Sept.
Oct.
Oot.
Jan.
1,
1,
1,
1,
1.
1901
1901
1932
1935
1943
p. 40), and acquired from the purchasers by H. S. Carroll and D. R.
Francis of St. LouN, Mo. Extensions, it was said, will be made from
Columbiana to Pike Junction on the U. 8. & Q., 28 miles. For year
1896 97, gross, $60,012; net, $14,940; taxes and miseel., $12,875;
balanoe, $2,064. (V. 62, p. 40, 949 ; V. 67, p. 428, 736,1055,1161; V.
68, p. 40.)
Little M ia m i R R .—Owns Cincinnati, O., to Springfield, O., 84
miles branch, Xenia, O., to Dayton, O., 16 miles; leases, Columbus <fe
Xenia RR., Xenia, O., to Columbus, Ohio, 55 miles ; Dayton <fe Western
RR., Dayton, O., to Indiana «tate Line, 38 miles Ohio State Line to
Richmond, Ind. ,4 m.; Cin. St. Connecting RR., 2 m.; tot. operated, 199 m t
Lease .—On Deo. 1, 1869, leased to Pittsburg Cincinnati <fe St. Louis
(now Pittsburg Cincinnati Chicago & St. Louis) for ninety-nine years
renewable forever. The Penn. RR. Co. is a party to the contract and
guarantees its faithful execution. Rental Is 8 per cent on $4,943,100
stock and interest on debt. There is $100,000 6 per cent permanent
capitalized debt ; interest J. & J. Lessee’s report for this road shows
net loss to lessee: In 1894, $221,927; in 1895, $259,044; in 1896,
$305,896; in 1897, $230,645. Stock authorized, $8,000,000.
B onds .—In Jan., 1890, authorized $3,000,0 0 0 7 s for betterm ents, and
$3,000,000 stock, into w hich the 7s are convertible.—V. 64, p. 80s .
Little R o c k Sc M em p h is R R . —See Choctaw <& Memphis RR
(V. 67, p. 126, 529, 901.)
L ittle S c h u y lk ill N a v ig a tio n R R . Sc C oa l.—Owns from Port
Clinton to Tamanend, 28 miles; branches, 4 miles. Re leased on Deo.
1,1896, to Phila. & Read. Ry. for 999 years, and rental reduced from
7 p. 0. on stock to 5 p. fl., gold from Jan. 1,1897; in Jan , 1898, a divi
dend of 3 p. 0. was paid; in July. 2 ^ p. 0.; in 1899, Jan., 2*2 p. 0,
Lessee pays also all taxes and $5,000 yearly for organization ex
penses.—see V. 63, p. 1159.
L on g Islan d R R .—Operates practically all the steam surface
roads on Long Island, adjoining New York City, the system including:
Owns—
Miles,
Leases —
(1f Which see.) M iles.
Long Island City to Greenport. 95 New York <fe Rockaway............ 5
Long Island City to Gt. Neck.. 14 N. Y. B’klyn <fe Man. Beach jf.. 19
Bustiwick to Sag Harbor.......... 95 Gr’t Neck <fe Port Washington. 4
Sundry branches....................... 80
Total June 30,18 9 8............ 379
Total owned...........................284 Double track................................113
Leases —
Side tracks................................... 127
Brooklyn <& Jamaica R R .......... 10 Controls—earnings kept separate.
North Shore Branch RR........... 30 N. Y. & Rockaway Beach Ry. 14
Montauk Ext. & N. Y. Bay Ext. 27 Prospect Pk. & Coney Island.if 10
Organization .—Im p rovem en ts- In January, 1897, control o f the
stock was purchased by a syndicate—August Belmont; William A .
Read; Charles M. Pratt; Brown Bros. <& Co.; Charles D. Dickey,
Jr.; Theodore A. Havemeyer; Strong, Sturgis <fc Co.; Kessler «&
Co.; Frederic G. Bourne; George F. Baker, and others. The new man
agement has extensive plans for furnishing rapid transit direot from
New York City to all points east of Jamaica (covering the distance
from New York to Jamaica in twenty minutes) and also for a tunnel
to New York—V. 64, p. 83, 234, 754,1001; V. 65, p. 512; V. 66, p. 471.
V oting T rust .—More than a majority of the stock has been de
posited under a voting trust agreement dated Feb. 1,1897, with U.
S. Mort. & Tr. Co.—V. 66, p. 520.
D ividends .— (1882. ’83 to ’90. ’91. ’92. ’ 93. ’94. ’95. ’96. None
Per cent.
¿ 1
4 yearly 4*3 5
5 4*4
4
4 since.
B onds.—The f e r r y mortgage to r $2,750,000 covers all the real and per
sonal property pertaining to the company’s ferries (34th Street and
James Slip); $1,250,000 bonds being reserved to retire the M etropolitan
F erry 5s. As to debentures see page 2 of Supplement of April, 1895.
In April, 1898, $1,121,000 additional consol. (4s) were sold to retirean equal amount o f the 1st mortgage 7s then outstanding. The $268,703 are now the only lien ahead of the first consols.—V. 66, p. 760.
G uaranties .—in addition to guaranteed bonds in table above guar■ ntees 5 p. c. on $650,000 New York Brooklyn «fc Manhattan Beach
preferred stock as part rental; also 4 ^ p. 0 . on $50,000 P. P. <fc So. Br.
stock, and 4*2 p. 0. on $82,500 of the N. Y. <fc Coney Island stock.
General F inances.—June 30, ’98, notes payable, $1,579,000, agst.
$1,600,000 on June 30,’ 97; morts. on real estate, $291,238; equip, trust*
$150,000. Renewals are with 76 to 80-pound steel rails. As to change
of control in 1897 see organization above. The Atlantic Ave. improve
ments and tunnel to New York City (see V. 64, p. 469; V. 65, p. 512;
V. 66, p. 471) are in abeyance pending acquisition from Legislature o f
franchise running a 1easonable length of time, the Greater New York
Charter limiting municipal franchises to 25 years. In the meantime
the agreement with Brooklyn Elevated below is in operation.
An agreement with the Brooklyn El. RR. in March, 1898, provided
for joint construction of connecting line at East New York and run
ning o f through trains from Jamaica to Brooklyn Bridge and from
Rockaway Park to Broadway ferries. AH these lines will be operated
with electricity as soon as proper system can be decided upon—V. 67,
p. 124,175. In J an., 1899, a new mortgage and a funding plan were
about ready.
The oompany purchased the Huntington and Far Rockaway (street)
railroads in March, 1898.—V. 66, p. 520, 664.
84
INVESTORS’
SUPPLEMENT.
[V ol.
LXVIII.
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Bonds —Princi
Amount
Par
For explanation o f column headings, &o., see notes of
Rate per When Where Payable, and by pal,When Due»
of
Outstanding
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Stocks—Last
Dividend.
h o n g I s la n d —(C on.) —
1,000
MontaukExt. RR. IstM ., g .................................. e*
21 1895
600,000
5 g. J. & J. N. Y., U. S. Mort. & Tr. Jan. 1, 1945'
1,000
N. Y. & Rock. B., 1st M., $1,000,000, gu. p. & i..
1887
984,000
do
do
5 g. M. & S.
Sept. 1, 1927
436,000
P. P. & C. I., 1st and 2d ($96,000 2ds) gu. p. & i.
413 Semi an
10 ’86-’91 1,000
do
do
1926-1931
L os A ngeles Terminal —1st mortgage, $1,500,000..
44 1891
1,500.000
5
J. & J.
July 15,1931
1,000
1895
125,000
L ou isia n a A Northwest RR.—First mort.. gold.......
5 g- J. & J. N.Y., Boody, McL.&Co. Jan. 1, 1945'
500
45 1897
250,000
L a . South'n —1st mort., g., red. at 105 after 1902 .0
5 g. M. & S. N. Y., R.Winthrop <$jCo. Mar. 1, 19501,000
2,240,000
6 g. J. & J. N. Y., S. Pae.Co., 23 B’rd July 1, 1921
Louisiana Western —1st mortgage, gold................ 0* 112 1881
100
....
1,500,000 6 in 1898 F. & A.
Lou isville B ridg e Co.—Stock......................................
Louisville, Ky.
Aug. 15,’98,3%
1897
482,532
6
Louisv. Evan. A St. L ou is Consol.—Receivers’ certs.
(Î)
1,000
900.000
6
1st mort. E. R. & E........................ ......................... *72 1881
J. & J. July,’ 96, pd. Dec. 31,’96 June 1, 1921
1,000
2,000,000
1st mortgage, gold......... ...................................... 0* 182 1886
6 g. A. & O. Apr., ’ 95, pd. Sep. 30, ’95 Oct. 1, 1926
1,000
670,000
2d mort.. with voting power, gold, unassented.o” 182 1886
6 g. A. & O. A pr.,’95-, pd. Sep. 30, ’95 Oct. 1, 1926
1,000
22 1887
300,000
Hunt. Tell. City & C. RR. IstM ., gold (see text)o*
6 g. A. & O. Apr., ’94, coup, last pd. Oct. 1, 1927
500
20 1875
200,000
Illinois & St. Louis 1st M. (matured-see tex t)...
6 (8) J. & D. Deo., ’ 94, coup, last pd. June 1, 1895
300,000
6
Ven.&Car. 1st Ms., due Deo.,1900 &Apr.1,1902. o'
7 1880-2 1,000
Various All paid when due.
1900-1902
1,000
3,797,500
L. E. & St. L. consol, mort., gold ($8,000,000) ..c ' 353 1889
5 g. J. & J. July, ’93, coup, last pd. July 1, 1940
1,000
2,400,850
General mortgage for $15,690,000, gold............0* 353 1893
4 g. M. & 8. Sept., ’93, coup, last pd. Mar. 1, 1943
2 1890
300,000
New Albany Belt & Term. RR. 1st M. end., gold..
6 g. J. & D. June,’93,coup, last paid June 1, 1920
....
100
L ouis.II. A St. L .—St’k($2,000,000ispf.5%non-cum.) _
4,000,000 to be hel d in v o t ing trust for ten years. SeeV.62,p.l38
500
165 1896
2,100,000
1st M., $2,500,000, gold..........................................
5 g• J. & J. N. Y. Office, 7 Wall St. Jan., 1946
1,000
3,000,000
L ouisv.A Jeff.Br. Co.—$5,000,000,g.gu. p.&i.,end.e* .... 1895
4 g. M. & S. N.Y., J.P. Morgan & Co. Moh. 1, 1945
100 52,800,000 HaFb.99
L o u is v ille
N a s h v ille—Stock................................ ....
N. Y „ 120 Broadway. Feb., ’ 9 9 ,11»%.
$& £
3,500,000
Memphis & Ohio 1st M „ Paris to Mem., g.,guar. . 0 “ 130 1871
7 g. J. & D. London and New York. June 1, 190Í
£200
83 1872
1,996,660
Mem.Clarks.&L.lstM.,£,Guthrie to Paris,Tenn.o'
do
do
Aug. 1, 1902
6 g. F. & A.
490,000
M. & S. N. Y., 120 Broadway. Moh. 1, 1907
Ceoilian Br.IstM.,Cecil.to Louis.,s.f.,dr’n at 100.o’1 46 1877 $1,000
7
1,000
E.H.&N.lstM..Hendersonto Nash.,g.dr’n at 110.C* 151 1879
1,990,000
do
do
Deo. 1, 1919
6 g. J. & D.
1,000 10,058,000
Louis. & Nash, general M., gold, drawn at llO .o* 802 1880
do
do
June 1, 1930
6 g- J. <fe D.
892,000
A. & O.
L. C. & Lex. 2d m. s. f. not drn , Louis.to Newp’t.o1' 175 1877 100 &o.
7
do
do
Oct. 1, 1907
1,000
3,258,000
General mort. L. C. & L., gold (formerly 6s) .c* 175 1881
do
do
4*2 g. M. & N.
Nov. 1, 1931
1,000
1,960,000
L. & Nash.bds.,S.&N. Ala.RR.,2dm. as col.gold.c* 189 1880
do
do
Apr. 1, 1910
6 g. A. & O.
1,000
45 1880
580,000
Pensacola Division 1st m., gold (dr’n at 105). . 0*
do
do
Moh. 1, 1920
6 g. M. & S.
1,000
5,000,000
do
do
N. O. & Mob. Div. 1st M., N.O.to Mobile, gold.o* 141 1880
6 g. J. & J.
Jan. 1, 1930
L ate st E arn in g s .—July 1 to Nov. 30, five months. System, 399 miles.
5 mo8.
Gross.
Net.
Oth. ine.
Charges.
Balance.
first and second mortgages began in March, 1896.—(V. 62, p. 502.) In
March, 1897, receiver’ s certificates for $324,500 were authorized .a n d
$100,000
in July, 1897, for air brakes, etc. (V. 64, p. 1042; V. 65, p. 195. y
1898.........$2,696,933 $1,057,204 $87,227 $560,204 sur.$584,227
1897......... 2,446,178
983,351 86,864
571,823 sur.498,392
Committees.—Consolidated B on d h old ers: Charles S. Fairchild, 44
An nual R e po r t .—Fiscal year ends June 30. Annual meeting is held Wall St., N. Y., Chairman; Wm. L. Bull, James Stillman and W. H.
e second Tuesday in April. Report for 1897-98 was in V. 67, p. 685. Payne and Mayer Lehman. Secretary, Osborn W. Bright, 44 Wall St.,
The new management is charging against operating expenses many N. Y . In Jan., 1896, $3,347,000 first consol. 5s had been deposited.
improvements of a .kind previously charged to capital account. This Depositary, New York Security & Trust Co., 44 Wall Street, N. Y.—
V. 60, p. 522; V. 61, p. 559. F irst M ortgage B on d h old ers: John M.
accounts for the decrease below in net earnings:
Graham, John Stites, Alfred D. Foster; depositaries, International
F ear ending June 3 0 —1898.
1897.
1896.
1895.
Gtosbearnings..........$4,333,194 $3,954,866 $3,962,799 $4,014,019 Trust Co., Boston, or Fidelity Trust & Safety Vault Co., Louisville,
Ky.—V.
64, p. 664. The Graham Committee commenced foreclosure
Operating expenses.. 2,989,373 2,737,200
2,541,636 2,593,323
proceedings in Dec., 1897, the several committees having failed toagree
on
a plan—see plans in V. 65,1220, and also V. 66, p. 134.
Net earnings..........$1,343,821 $1,217,666 $1,421,163 $1,420,696
Second Mortgage.—George W. Norton, J. F. Henry and James W.
Total net......................$1,473,690 $1,332,510 $1,576,817 $1,583,969
Bryan;
depositaries,
International Trust Co., Boston, or Louisville
Interest on bonds........
638,629
658,662
658,411
658,410
Taxes............................
205,865
210,794
200,973
174,531 Trust Co., Louisville, Ky. In April, 1897, more than two-thirds of the
seconds
had
been
deposited.
(V. 64, p. 661, 799.)
Rentals..........................
312,800
310,466
271,160
240,088
Evansville Bockvort A E astern Committee.—Chairman Henry B. Han
Interest and discount.
72,521
50,384
16,389
6,789
Dividends....................................... (2)240,000 (4) 480,000 (4) 480,000 son, James R. Barret and R. Mont fort; depository, Fidelity Trust <fc
Safety Vault Co., Louisville, Ky. A majority deposited. (V. 65, p. 69.)
Balance............. sur$243,875 def.$137,795 def.$50,116 sur.$24,151
Capital Stock .—Common stock issued, $3,790,747; par, $100. (See
President (elected April, 1898), W. H. Baldwin, Jr.; Vice-Pres., 0. M. Y. 56, d . 289, 413.) In January, 1897, $457,162 prefd. outstanding.
B onds.—Illinois & St. Louis first 8s for $200,000, due June 1,1895»,
Pratt; Sec. and Treas., A. C. Bedford. Directors: James Timpson.
W. G. Oakman, J. G. K. Duer, J. S. Auerbach, F. G. Bourne, w. H. were purchased, but not having been paid interest accrues on them at
Baldwin, Jr., O. M. Pratt, L. O. Ledyard, F. L. Babbott, Dumont Clarke. 6 p. c.—(V. 60, p. 967. Abstract consol, mort. in V. 49, p. 208.
Of the general mort. 4s, in Jan., 1894, $2,076,850 had been issued
George W. Young, August Belmont and R. Somers Hayes.—(V. 67, p.
in exchange for preferred stock, settlement o f E. & T. H. account, etc.,
2 7 2 , 320, 685,1003.)
$577,000
were held as collateral for loans and $695,400 were in hands
Log A n g e le s T e r m i n a l B y .-O w n s 50 miles of road connecting
Los Angeles, Cal., with Pasadena, East San Pedro, Yerdugo and Altadena; of trustees to be issued for preferred stock. In Oct., 1897, N. Y. 8took
Exchange
reported $2,432,000 listed, (See V. 56, p. 289,413.)
standard gauge. Completed in 1891-92. Branch ^o quarry, 1 Sm iles,
Coupon.—See table above as to coupons paid and unpaid. N. Y.
built in Aug., 1898. In Jan., 1899, lines to Verdugo, 8 miles, and
Pasadena, 8 miles, were being converted electrically,and expected to Security & Trust Co. pays interest when ordered.
be in operation in April, 1899. It was also proposed to build electric
General F inances.—The receivers’ report for 1895 stated that about
street lines in Pasadena, amounting to 6 miles, in addition. Stock $1,250,000 should be expended by the year 1904 to put the road in
authorized, outstanding, $3,000,000 ; par, $100. Mortgage is for $1,- proper condition, in addition to $250,000 for air brakes and couplers
500,000 on 44 miles ana $20,000 per mile for additional road ; it covers (V. 62, p. 499.) Floating debt Deo. 31,1895, $433,212, in addition to
60 acres of terminal lands in heart of Los Angeles and 40 acres of receivers’ certificates, and $842,813 unpaid coupons. (V. 62, p. 499.)
water front and terminals at San Pedro, the seaport of Southern Cal
Earnings .—Jan. 1 to Deo. 31 (12 months), gross, $1,464,678 in 1898;
ifornia. Trustee, St. Louis Trust Co.
$1,491,247 in 1897. Jan. 1 to Deo. 21 ( l l ^ months), $1,511,342 in
E arnings.—Year ending June 30,1898, gross, $91,722 ; net. $570; 1898; $1,421,628 in 1897.
interest, taxes, etc., $10,757. In 1896-97, gross, $79,843 ; deficit undei*
A nnual R eport .—Report for year ending Deo. 31, 1897, in V. 66,
operating expenses, $16,291; total deductions, $10,213. President,
p. 999, showed earnings, gross, $1,464,678 ; net, $354,558; construc
Geo. B. Leighton, St. Louis.
tion (betterments), $99,683; taxes, $80,000; interest on floating debt,
L o u isia n a 4c N orth w est R R .—Bienville toMcNeil, Ark., 781s $170; interest on receiver’s certificates, $16,078; balance to pay in
miles, of which Magnolia, Ark., to MoNiel, 6*3 miles, is «t. Louis South terest on bonds, $158,627. In 1896, gross, $1,502,194; net, $419,846;
western trackage. Extension from Homer, La., to Magnolia <ompleted balance to pay int. on bonds, $310,183. - (V. 66, p. 1089; V. 67, p. 428.)
in Jan., 1899. Said to be leased for 50 years from Jan. 1,1895, to J.D .
L o u isv ille H en d e rso n 4c St. L o u is R y .—R oad .—Louisville
Beardsley. Gibeland, La., for interest on bonds, taxes and cost o f main
tenance Stock, $3,000,000 authorized; issued Jan., 1896, $700,000, to Henderson Ky., 142 miles, of whioh West Point to Louisville, Ky.»
21
miles, is trackage; owns also Irvington to Fordsville, Ky., 44 miles,
par, $100. Trustee of bonds, People’s Trust Co., Brooklyn, N. Y.
H istory .—A reorganization June 1,1896 (per plan in V. 62, p. 138).
L o u isia n a Sou th ern R y .—Operates from New Orleans to Belair
and Shell Beach, 45 miles. A reorganization of New Orleans & South of the Louisville St. Louis & Texas, sold in foreclosure.
Se c u r it ie s .—The stock is to be held by John J. McCook, Brayton
ern, foreclosed Oct. 26,1896, 20 miles. See Y. 64, p. 83.
L o u isia n a W e ste rn I I I I.—(Nee Map o f Southern Pacific.) —Owns Ives and Oscar Fenley, for ten years, in a voting trust, unless earlier
from Lafayette, La., to Orange, Tex, 112 miles ; branches (2), 35 miles'; terminated by unanimous vote o f trustees. See terms V. 62, p. 138»
total, 147 miles. Operated under lease by Southern Pacific Co., which Of the new bonds (trustee, State Trust Co., N. Y.), $400,000 are re
owns all but $50,000 of the $3,360,000 stock. Lessee pays all charges served to build to Louisville. Bills payable June 30,1897, $23,725.
E arnings .—5 months, ) 1898......... ...G ross, $213,866; net, $61,574
and gives company 7 p. c. of total net profits under omnibus lease.
July 1 to Nov. 30.
S1897.............. Gross, 248,882; net, 67,692
E arnings.—4 months, >1898........... Gross, $401,472; net, $188,684
For year ending June 30,1898, gross, $525,458; net, $123,468; in
July 1 to Oct. 31.
) 1897........... Gross, 249,611; net, 96.366
terest,
$105,000;
taxes,
$12,000
¡ balance, surplus, $6,468; in 1896-7,
In year ending June 30, 1898, gross, $1,026,228; net, $468,103
surpms over charges, $271,535; amount of net profit due this company, gross, $484,793; net, $121,234; interest, $105,000; taxes, $13,000;
balance,
$3,234.
(V.
62,
p.
1177;
V. 63, p. 30, 76 .)
as per lease, $180,153. In calendar year 1896, gross, $930,701.
L o u isv ille 4c Jefferson ville B rid ge C o.—One-half mile long
L o u isv ille B rid ge C o.—Owns bridge 5,294 feet long over Ohio
River at Louisville, Ky., and about 2 miles track additional in Louis and the approaches one mile; opened for all business J an. 1,1896. The
ville. Used by several railroads, Penna. RK., Louisv. New Albany & company also owns about 40 acres of land in Louisville and 100 acre»
in Jeffersonville. The Big Four and Chesapeake & Ohio use the
Ohio., etc. Surplus earnings are paid back to roads using bridge.
bridge. Capital stock is $1,425,000; par, $100. No divs. to July, 1898.
Stock is $1,500,000, o f whioh Penna. RR. owned Jan. 1,1898, $901,B onds .—The mortgage of 1895 is for $5,000,000 (trustee U. 8. Trust
300. No bonds. Bills payable June 30,1895, $187,128.
Co. of N. Y. and Union Trust Co. of Indianapolis); bonds for $2,000,000
Dividends in 1896, 6 hj p. o. ; in 1897, 7 p. o.; in 1898, 6 p. c.
are reserved for future construction, etc.; the bonds are guaranteed by
E arnings .—In year ending June 30, 1897, gross, $240,605; net, the Chesapeake <&Ohio and Cleveland C. C. & St. L. roads, in whose in
$133,656; other income, $2,700 ; charges, $63,208; dividends, $120,
terest the entire stock is owned. See V. 61, p. 559. In July, 1898,
000. In 1895-96, net, $170,405.—(V. 60, p. 1105.)
earnings sufficed to meet both expenses and charges. (V. 62, p. 84.)
L o u isv ille E v an sv ille 4c St. L o u is C onsolidated R R .—Oper
L o u isv ille 4c Nasli ville R R .—(Nee Mop.)—R oad .—Operates main
ates Louisville, Ky., to East St. L., HI., 275 miles; branches to Evans Htm from Cincinnati. O., to New Orleans, La., 921 miles, with branchesville, Rockport, etc., in Indiana, 93 miles; also owns and operates to St. Louis, Mo.,Memphis, Tenn., etc., 1,064 miles, making total sys
Venice & Carondelet, 7 miles; total, 375 miles, of whioh 352'miles tem
30,1898,
VCU1 proper oJune
uuo UVt
xuowj 2,988 miles. The system includes :
owned and 16 miles trackage; 359 miles are steel, from 56 to 70 pounds. Lines owned absolutely or
Reported separately.
M iles .
Portions main line operated under trackage rights ; Louisville to New through entire capital stock. Miles. ([Nash ville Flor. & Sheffield.. . . 107
Albany, 6 miles; Walnut HUl to Centralia, 7*3 miles ; East St. Louis to Louisville to Nashville.......... 185 (¡Nashville Chatt. & St. Louis..904
St. Louis, 2*s miles. The New Albany Belt <&Term. RR. was purchased Sundry other lin es................. 2,453 ([Henderson B rid ge.................. 10
in 1897 giving new terminal facilities in New Albany. Used Kentucky
([Georgia Railroad system.......615
L in es leased, Ac.
& Ind. Bridge and 111. Cent. RR. terminals at Louisville (since Sept. 1, ifNashville & Decatur............ 119 Operated for other oo’s ............. 70
1897.) (V. 64, p. 423.) The Louisville & St. Louis RR., Centralia to ifSouth & North Ala. R R ....... 182 Owned but leased to other oo’s. 70
Drivers, HI., 16 8 miles, was purchased in June, 1898, for $85,000. Other lines...............................
49 Do. Paducah & Mem. D iv........ 254
—V. 66 , p. 1089; V. 67, p. 428.
Total system proper........2,988
r e c e i v e r s h i p .— On Mar. 25,1896, George T. Jarvis was appointed
(([ See this company.)
Total o f all June 30, ’98..5,027
* eceiverto act from May 1. (SeeV. 62, p.589, 726.) Foreclosure of
t
J a n u a r y , 1899.]
KAI LEO AD STOCKS AN D BONDS,
8 ft
8 «
INVESTORS’
SUPPLEMENT,
|VOL.
LXVI1I,
Subscribers w i l l con fer a great fa v o r by g iv in g Im m ed iate notice o f an y error discovered In these T a b les.
RAILROADS.
f ' INTEREST
Miles Date Size, or
Amount Rate per
For explanation of column headings, Ac., see notes of
of
Par
When
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Bonds —Prtno 1-
Whom.
pal,When Due.
Stocks—Last
Dividend.
Louisville <£ Nashville—( Concluded ) —
N. O. A Mob. Div. 2d M., N. O. to Mobile, g...*o 141
Southeast & St. L. Div. 1st Mort., gold.............o'
208
2d M., gold, East St. L. to Evansville & b r..c
208
1st M. (50-year 5s), $15,000 p. m., gold........... e’
118
1st mort., collateral trust ($7,000,000) .gold.... c’ . . . .
Unified mortgage for $7o,000,000, gold___c*<fcr Text.
....
Coll, trust, $12,500,000, call at par in 5 yrs„ g.c
St. Louis property, 1st mort., gold, $650,000.. .o . . . .
Louisville Ry. Transfer 1st mortgage...................
....
L. & N. and Mob. & M ont.jointbds.,lst M., g.Ce.o* 179
Pens.AAt. 1st M..gold,s.f.,dr’n at 110assumed.o* 160
Paduoah A Memp. Div. 1st M., gold, $5,000,000. 254
Kentucky Central—Maysville A Lex. RR. mort...
49
New mortgage ($7,000,000) gold............. M p.c* 220
So. A No.Ala.,1st M., s.f., not dr’n, guar, by L. A N. 189
2d M., gold, s.f., $2,000,000, (owned by L.AN.) 189
Consol, mortgage (for $10,000,000), g., guar.o* 189
Lou isville N ashville Termin'l —1st M. $2,000,000 ....
Lykens Valley—Stock. Rental pays 5 per cent.......
21
Maeon.dtBirming.—lRt mortgage, $500,000, gold.o
97
M a in e C en tra l —Stock and scrip.............................
....
Extension 1st M., gold, Cumberl. Juno, to Dan..o
18
1st consol, m ort.,) ($269,500 5s)........................ o* ì 3G4
$9,000,000...... 5 ($2,768,800 4s)...................... o*
Collateral trust bonds for Mt. Desert Branch__ o
41
Sinking fd. 10-20s, gold, old 6s, ext. Feb. 1 .’95..c . . . .
Improvement bonds,“ A” and “ B.” gold, not mort. . . . .
Me. Cent. Eu. A No. Am. refunding mort., gold...
56
Portland A Ogdens, stock (2 p. c. rental, 999 years) 109
1st mortgage, gold, interest guaranteed........ o
62
Port.& Ogd., Con. M.$20,000 p.m. (gu. by end.). ,e. 107
a Also $14,000,000 are pledged to secure collat’l 1ru8tt
1880 $1,000 $1,000,000
6 g. J. A J. N. Y., 120 Broadway, Jan. 1, 1930
1881
1,000
3,500,000
6 g. M. A S.
do
do
Moh. 1, 1921
1,000
1881
3,000,000
3 g. M. A S.
do
do
Moh. 1, 1980
1887
1,000
1,764.000
5 g. M. A N.
do
do
May 1, 1937
1888
1,000
5,129,000
5 g. M. A N.
do
do
Nov. 1, 1931
1890 1,000Ac al4,994,000
4 g. J. A J.
do
do
July 1, 1940
1898
1,000 12,500,000
4 g. A. A O.
do
do
Apr. 1, 1918
1891
1,000
617,000
5 g- M. & S. St. Louis, St. L. Tr. Co. Mch. 1, 1916
286,000
8
M. A N. N. Y., 120 Broadway, May 1, 1901
1895
1,000
4,000,000
4 ^ g. M. A S.
do
do
Sept. 1, 1945
1881
1,000
2,753,000
6 g. F. A A.
do
do
Aug. 1, 1921
1897
As collateral
4 g.
1947
1876
1,000
400,000
J. A J. N. Y., 120 Broadway Jan. 1, 1906
1887
1,000
6,742,000
4 g.
do
do
July 1, 1987
1873
£200
£733,600
6 g. M. A N. London, Baring Co.,L’d May 1, 1903
1880 $1,000 Own. L. A N.
G g.
IN.Y., Office, 120 B’ way. Apr. 1, 1910
1886
1,000 $4,330,000
5 g. F. A A. N.Y., Office, 120 B’ way. Aug. 1, 1936
1898
4
(1 )
1948
....
20
600,000 5 in 1898 Q.—J. N. Y., Office, 13 Wm. St. Jan.,’9 9 , 1H%
1896
1,000
500,000
5 g. J. A J. Boston, Old Colony Tr. July 1. 1946
....
100
4,975,500 6 in 1898 Q .-J .
Portand, Me., Office. Jan.2,’9 9 ,l1s%
1870 500 Ao.
496,500
6 g. A. A 0. Bost., N.Rev. Bk.; Port, Oct. 1, 1900
1872 100 Ac.
4,193,500
5 A 7 A. A O.
do
do
Apr. 1, 1912
1872 100 Ao.
4,293,800 4 A 41s A. A O.
do
do
Apr. 1, 1912
1883
1,000
669,000
5
J. A D. Boat., Am.L.ATr.; Port. June 1, 1923
1885
1,000
600,000
4*9 g, F. A A. Portland Tr. Co., Port. Feb. 1, 1905
1886-7
450,000
4 g. J. A J. Bost., N.Rev. Bk.; Port. July, 1916-17
1893
1,000
1,000,000
4 g. J. A J. Boston and Portland. Jan. 1, 1933
....
100
4,390,968
2
Q.—F. Portland, Me. Cent. Of. Feb., ’99, *a%
1870 500 Ao.
800,000
6 g. J. A J. Bost., N.Kev.Bk. A Port. July 1, 1900
1888
1,000
1,319,0001
5
M. A N. Bos., N. Rev. Bk. & Bos. Nov. 1, 1908
bonds of 1898 and $2,653, OOOwere in the tr easury June 30,1898.
Organization, Ac.—This company was chartered Maroh 2,1850, and
opened between Louisville and Nashville November, 1859. The liabili
ties for interest on the auxiliary roads are treated mostly as belonging
directly to the Louisville A Nashville Co. A list of the securities owned
and in the sinking fund June 30,1896, was in Y. 63, p. 658. Georgia
RR. (see Georgia RR. A Banking Co.) was leased in 1881 jointly to
Central o f Georgia and L. & N., but L. A N. claims that the Centra
has forfeited its interest in the lease—see V. 65, p. 81.
Term inals .—Jointly with Nashv. Chat. & St. L. leases terminal
property in Nashville (belonging to Louisville & Nashville Terminal
Co.) for 99 years from 1897. (V. 65, p. 278.) Contract for new station
was let in July, 1898. V. 67, p. 222, 329, 742. .
For Henderson Bridge see Miscellaneous Companies.
B lock.—In July. 1891, it was voted to increase the stock from $48,000,000 to $55,000,000 for purchase of Kent. Cent. RR., Ac. Of the new
■took $4,800,000 was taken by stockholders of July 21 at 70, and
July 1,1898, $2,200,000 was held in the treasury. Further increase
In stock to $60,000,000 authorized in Nov., 1893.—V. 57, p. 596, 809.
D ividends ) ’ 82. ’ 83-’87. ’88. ’ 89. ’90. ’91. ’92. ’ 93. ’94-’98
’99.
Percent. > 3 None. 5stk. 5stk. 6 5
4
4
None. Feb.,1*2
In 1890 of the 6 p. o. paid there was 4»xo in stock.
B onds.—The Evansv. R ender. <&Nashv. bonds are drawn at 110 by lot
annually in October, for payment Deo. 1 in amounts increasing each
five years until $150,000 per year is finally reached; in 1897, $40,000.
The Pensacola D ivision bonds are subject to a drawing sinking funo
$5,000 till 1900, inclusive, then $10,000, and so increasing.
The general mortgage bonds of 1880 are subject to call at 110 in in
creasing amounts each yea r; $251,000 gen. mort. bonds will be redeemed June 1,1898; also $55,000 Cecilia Branoh bonds.
In June, 1890, the “ u n ified ’’ mortgage (trustee, Central Trust Com
pany) for $75,000,000 was authorized, $41,917,660 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 cov
ers (besides 1,232 miles of road and its equipment) $25,992,535 stock
of companies controlled, and $3,150,000 bonds free from an; lien. See
abstract of mortgage in V. 51, p. 613. On June 30,1898, company reorted $31,647,000 issued, of which $2,653,000 in the treasury. Total
sted on N. Y. Stock Exchange $14,994,000 in Oct., 1898.
Of Louisville C incinnati dt L exington general mortgage bonds,
issue is now limited to $3,258,000. V. 63, p. 1010.
Mobile <t M ontgom ery—Louisville <S>Nashville jo in t mortgage is for
$5,000,000, a first lien on 178 ^ miles Mobile to Montgomery; $1,000,000 reserved for improvements. V. 61, p. 196,750.
K entucky Central mortgage abstract V. 45, p. 372.
Pensacola <£ A tlantic first mortgage bonds (assumed) are gradually
being called for the sinking fund at 110; on June 30,1898, $775,266
were held in the treasury, making total outstanding $2,753,000.
Paducah & Memphis D ivision bonds cover the line from Paducah to
Lexington, Ky., and Memphis to Perryville, Tenn., 254 miles; mort
gage is $5,000,000, of which $3,800,000 held by L. A N. and balance
reserved for improvements—see V. 65, p. 652, 673.
St. L ou is term inal p rop erty bonds cover freight terminals.
The collateral tru stoon d s of 1898 (see below) are secured by deposit
with the U. 8. Trust Co., as mortgage trustee, of $14,000,000 L. A N.
unified 4s and $4,000,000 L. A N. Paduoah & Memphis division bonds,
the latter covering the road from Paducah, K y., to Memphis, Tenn..
254 miles. The loan is limited to $12,500,000, and is subject to call at
par on and after April 1,1903. (V. 66, p. 337; V. 68, p. 87.)
G uaranties .—Besides bonds in table, the Louisv. A Nashv. is responsi
ble for $2,100,000bonds and dividends on $2,305,582 stock of Nashville
A Decatur (which see); and for $2,096,000 Nashville Florence A
Sheffield bonds.
General F inances.—In February, ’98, the company sold, in order
to provide for the floating debt, the funding of the consols due April,
1898 ($7,070,000), and to reimburse the company for the purchase of
the Paduc ah A Memphis Division, an issue of $12,500,000 coll, trust
bonds, due in 20 years but subject to call on or after April 1,1903,
defeiring sale of L. A N . 4s for better prices. V. 67, p. 742. This
transaction reduced interest charges (includ. int. on floating debt)
about $200,000 yearly. As a result of refunding there was on Deo. 31,
1898, no floating debt, a cash surplus of about $2,000,000 and stocks
and bonds in treasury worth $9,000,000 to $10,000,000. (V. 66, p.
337, 574; V. 68, p. 85.) Since July 1,1894, the “ construction ac
count” has been closed, and in the four years ending June 30,1898,
$2,103,447 had been charged to operating exp. for permanent improve
ments. In Feb., 1899, dividends resumed (Feb. l*a%). V. 68, p. 85.
In 1897 and 1898 the company refunded at a lower rate of interes
about $10,000,000 of 7 per cent bonds.
E arnings .—Earnings for six months ending Deo. 31, 1898, partly
estimated:
6 Months.
Gross.
Net.
Oth. Inc. Int., etc. Oth. Ohgs. Bad.. S w .
1818.
’d ......*11,827,259 *4,101,565 *336,057 *2,836,705 *174,118 *1.426.799
1897, t......... 11,078,814 3,810,386 286,744 2,805,284 178,482 1,113,364
Deductirg from surplus of $1,426,799, as above in 1898, the dlvil i d of l 1« per cent on stock, $792,000, payable Feb. 10,1899, leaves
net surplus for six months ending Dec. 31, lh 98, of about $634,799.
V. 68, p. 85.
S
A nnual R eport .—Annual meeting is held in Louisville the first Wed
nesday in October. Report for 1897-98 at length in V. 67, p. 731,738,
See also editorial p. 714 show ing:
T ear end. June 30.
1898.
1897.
1896.
1895.
Average mileage
2,988
2,981
2,965
2,956
Freight earnings....$15,854,802 $14,641,263 $14,324,906 $13,537,099
Passengers................ 4,557,729
4,291,735
4.666,751
4,370,154
Mail, express, eto... 1,584,122
1,439,309
1,399,054
1,368,741
Gross earnings....$21,996,653 $20,372,307 $20,390,711 $19,275,994
Net earnings............... $7,074,922 $6,523,090 $6,885,505 $6,998.22 1
Net, incl. invs’ts., Ao. 7,665,698
6,950,154 7,319,877
7,361,494
Taxes paid..................
640,252
589,516
579,961
569,326
4,981,993
4,983,096
5,013,738
Interest and rent....... 4,972,592
Georgia RR. deficit...
162,620
25,440
37,870
108,264
Loss on other roads ..
12,480
49,975
89,989
90,025
Adv’s to S AN. A.,eto.
82,847
129,387
64,910
704,556
Sinking fund paym’ts
162,008
194,663
186,547
175,000
Surp. over charges....$1,632,901
$979,180 $1,377,504
$700,585
—(V. 67, p. 1 2 2 , 222, 316, 578, 714, 7 3 1 , 7 3 8 , 901; V. 68, p. 85.)
L o u isv ille & N ash ville T e r m in a l.—In 1898 had under con
struction a large depot and terminal property at Nashville. The ex
penditures w ill be represented by bonds secured by a lease of the term
inal property jointly to the Nashville Chattanooga A St. Louis Ry. and
Louisville A Nashville RR. It was expected to issue $2,000,000 o f 4
per cent bonds. V. 67, p. 320, 742.
L o u isv . N ew A lb a n y & C h ic .—See Chicago I nd . A L ooisv.
L o u isv St. L . & T e x a s .—See L ouisville H enderson A St . L
L y k en s V alley 1111. A Coal Co.—Owns from Millersburg.Pa., to
Williamstown, Pa., 20 miles; branoh, 1 mile; total operated, 21 miles.
It is a coal road leased and operated by the Northern Central RR. since
July, 1880, and previously by Summit Branch RR. New lease to Nor
them Central made April 20,1896, terminable on 60 days’ notice by
either party—see V. 664, p. 330. Rental $35,000 per annum.—V. 62.
p. 5 0 0 ; V. 64, p. 330.
. L yn ch b u rg A D u rh a m R R .—Merged in Norfolk A Western.
M a con A B irm in g h a m R y .—Owns Sofkee Junction to La
Grange, Ga., 97 miles. A reorganization of Macon A Birmingham
Railroad sold in foreclosure Deo. 27, 1895, to Edwards A Parsons of
Boston, Mass. This firm also holds 7.160 shares of the stock o f the
Georgia Southern A Florida, which see.
Stock and B onds.—Capital stock is $500,000. First mortgage is
for $500,000; trustee is Old Colony Trust Co., Boston. The mileage
to be covered will be about 220 miles, of which 97 miles in operation.
Earnings.—5 months, ) 1898............... Gross, $28,415; def. $2,044
July 1 to Nov. 30.
s 1897...............Gross, 32,361; def. 9,720
In year 1897-98, gross, $65,130; deficit under operating, $12,3&2. In
1896-97, gross, $61,970.—(V. 62, p. 1040.)
M a con D u b lin A S avan n ah R R .—Owns road completed from
Macon to Dublin, 54 m iles; projected to Savannah, 99 miles additional.
Owned by the Illinois A Georgia Improvement Co. of Chicago. V. 60, p
7 11,794,873. Bills payab'e June 30, l >97, $30,079. In year ending
June 30,1897, gross, $64,278; net, $10,669; other income, $86; total
deductions, $3,271; balance, $7,484. In 1895-96 gross, $56,079. Stock
$1,250,000; par, $100; no bonds.—(V. 60, p.1058.)
M aeon A N orthern R y . —Absorbed in 1895 by Central o f Ga. Ry.
M ain e Central R R .—Line of road, Portland to Yanceboro, Me., via
Augusta, 251 miles; branches, Cumberland Junction to Skowhegan,
91 miles; Bath to Lewiston and Farmington, 76 miles; b ra n ch esBelfast, Dexter, Bucksport and Mt. Desert Ferry (7*2 miles), 133 miles;
Portland A Ogdensburg RR., Portland, Me., to Lunenberg, 109 miles ;
small branches, 6 miles; Upper Coos and Hereford railways, Lunenberg,
N. H., to Lime Ridge, Quebec, 108 miles; Bath to Rockland (including
steam ferry,6-10 miles,) 48 miles; total, 822 m iles,of which 345 miles
owned, 429 miles operated under 999 year leases, and practically
owned; 33 miles operated under 50-year leases and 8 miles ferry lines.
Organization .—Stock for $2.516,000 is owned by Boston A Maine.
The law of 1898 enables the B. A M. to purchase additional stock o f
the Maine Centrai. V. 66, p. 616.
D ividends — )
1882.
1883.
1884 to Jan., 1899,
Per cent >
2
5^
6 yearly
B onds, G uaranties .—Consols of 1872 are held in trust to retire
$496,500 68 due Oct. 1 ,1900; $756,800 4s sold to retire 7s due July
1,1898. V. 67, p. 59.
There were also on June 30,1898, $76,000 Shore Line 6s, due 1922 ;
also $130,500 Belfast A Moosehead Lake mortgage bonds, due 1920,
not guaranteed, interest and sinking fund paid out of the rental.
Jointly with B. A M. guarantees $300,000 Port. Union Station bonds.
F loating Debt .—Notes payable, $650,000 Sept. 9, 1898, against
1,188,000 June 30, 1897. The proposed funding of the floating
ebt was deferred pending improved business conditions.
t
January,
RA1T.RO AD
1899. J
STOCKS
A N I)
87
BONDS
Subscribers w ill confer a great fa v o r by g iv in g Im m ed iate n otice o f an y error discovered In these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
_________________ RAILROADS. _______________ Miles Date Size, or
pal, When Due.
Amount Rate per When Where Payable, and by Stocks—Last
of
of
Par
For explanation of c o lu m n headings. <fec., see notes
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Maine Central—( Concludedj —
.
European & N. Am. stock, 5 p.c. rental 999 years 114
17
Dexter & Piscataquis stock 5 p.c. rental 999years.
17
1st M., Dexter to D ovei, etc., guar, by end.......
53
Hereford R ’y stock (4 p. c. rental for 999 years)..
53
1st mortgage, guar. p. & i. (endorsed)...............
22
Upper Coos RR. stock, 6 p. o. rental 999 years.
22
lstm ort., guar. p. <fci. (endorsed).......... .
33
Extension M ., $21,000 p. m., guar. p. & i.(end.).
48
Knox & Lincoln stock, guar., 5 p. c., 999 years...
48
1st M. Penobscot Shore Line RR. Co., assumed.
48
K. & L. 2d mortgage (for $400,000) assumed...
14
Dexter & Newport, stock, 5 p. o. after Nov. 25,’98.
14
1st M. (old 6s refund, in 1897) gu. p. & i. end.*
18
Eastern Maine, stock, 4*2 p. ct., rental 999 years
Manchester & Augusta —See A tlantic Coast L ine Co. OF
22
¡Handies. <6 Law.—Stock,10 p.c.ren’l till 1937.B.&M.
Real estate bonds (not mort.) int. gu. by B.&. M-c
36
Manhattan Elevated.—Consolidated stock................
18
Metropol. El. 1st M., $600,000 p.m., assum’d.g.o*
18
2d mortgage (assumed)..................................... o*
32
N. Y. El. deb., secured by consol, mort. of 1890..
32
Manhattan Elevated consolidated mort., gold..c*
43
M ari. <£ Phoenix <6 Salt Riv. V al.RR.—M ., gold, F .c
92
Mason City <&Fort Dodge—lstm .$15,000 p. mile, g.
M e x ic a n C e n tr a l—Stock, $25,600 per mile..........
1st mortgage (unassented) and scrip.....................
Consol, mortgage, $32,000 per mile, gold— c*<fcr 1,949
1st oons. ino. and scrip,non-cum.($9.600p.m.),g.o* 1.949
2d oon.inc.$6,400p.m.red.at 50p.c.till Aug. 1929c* 1.949
Registered income bonds and scrip, unassented.r
Equipment bonds, $500,000 (5 p. c. due yearly).
»Inclu des $648.000 being exchanged in Jan., ’ 99, fo
1889
1890
1890
1890
1890
1891
1897
s'.'c.
1892
1878
1879
1886
1890
1895
1886
1881
1889
1889
1889
1881
1897
r $540
G. Bangor, Treas. Office.
Dover, Me., Office.
J.
J. Bost. N. Rev. Bk., Port.
N. Portland, Me. Cent. Of.
N: Boston, Mass. Nat. Bk.
N. Portland, Me., Office.
N. Bost.,N. Rev.Bk.; Port.
N. Portland, Me., Office.
A. Portl’d,Me.,Me.Cent.Of.
A. Boston, Nat. Revere Bk.
do
do
A.
Dexter, Me., Office.
& S.
& S.
& N. Rocklan t. Me., Office.
Oct.15,’9 8 ,2**
Jan., ’9 9 ,2*«%
Julv 1, 1929
Nov , ’ 98, 2%
May 1. 1930
Nov., ’98, 3%
May 1, 1930
May 1, 1930
Feb. ’ 99,2*3%
Aug. 1, 1920
Feb. 1, 1921
sept., 1898
1917
Nov.,’98, 2*4%
M. & N. Manchester and Boston.
10
1,000,000
4
J. & J. Boston, B. & M. RR.
274.000
30,000,000 4 in ’98 Q.—J. N. Y., 195 Broadway.
10,818,000
6 g- J. & J. N. Y., Mercantile Tr. Co.
do
do
M. & N.
4.000.
000 6
M. & S. N. Y., Mercantile Tr.Co.
5
1.000. 000
do
do
24.065.000
4 g. A. & O.
5 g. M. & N. N.Y., Farm. L. & Tr. Co.
a750 000
In default.
6 g. J. & J.
10Ó, &c. . 1,380,000
100 47,940,100
454.000
(7) 4 J. & J. Boston,SafeDep.&Tr. Co
1,000
do
do
4 g. J. & J.
1,000 59.011.000
1,000 17,313,300
3 g. July 10 Boston, when earned.
3
1,000 11.252.000
July 1
419,200
3
1,000
950.000
5
,000 M. & P. 6s.
Nov. 1, ’98, 5%
Jan. 1. 1922
Jan., ’99, 1%
July 1, 1908
Nov. 1, 1899
Moh. 1, 1916
Apr. 1. 1990
Deo. 23 1925
July 1, 1926
$100
100
1,000
100
1,000
100
1,000
1,000
100
1,000
1,000
100
100
.$1,710,476
. $633,907
648,121
298,527
*2),440
$1,664,614
$657,060
650,480
298,524
$1,667,726
$637,834
649,516
298,524
$58,550
$81,852
Balance, surplus.................. $100,481
—(V. 65, p. 821 ; V. 66, p. 472, 616; V. 67, p. 29, 6 8 6 .)
M an ch ester & A u g u sta R R , - See Atlantic Coast Line RR.of S.C.
M an ch ester & L aw ren ce R R .—Owns from Manchester, N: H., to
Methuen (State Line), 22*4 miles. Leased for 50 years from September
1,1887, to Boston & Maine at a rental paying 10 per oent dividends.
In June, 1895, a dividend of 50 p ct. was paid on the capital stock out
of money received from C. & M. suit. (V. 6z, p. 869. i
M a n h a tta n R y .(E le v a te d ).—ROAD.-Controls and operates all the
elevated railroads In N. Y. City, its main track aggregating 32 miles.
Besides these it owns and operates the Suburban R. T. RR., 3% miles.
H is t o r y , E tc .—Formed Nov. 24, 1875. In May, 1891, $4,000,000
stock was issued to acquire the Suburban Rapid Transit RR., owning a
bridge across Harlem River and road to near 171st 8t., N. Y., 2*a m.
B onds .—Consolidated mortgage (trustee, Central Trust Co.) is limited
on present mileage to $40,000,000, and will provide for prior bonds
when due. Amounts beyond $40,000,000 may be issued for extensions
at the rate o f $300,000 per mile of single and $600,000 per mile of
double track. (See abstract of mortgage in Y. 51, p. 248, and applica
tion to New York Stock Exchange in V. 52, p. 353.) Of the consols
the company itself in Dec., 1897, held $300,000 against “ special ac
count” and $50,000 consols to redeem convertible certificates.
G e n e r a l F inances .—In October, 1898, it was reported that plans
for electrical equipment had been practically com pleted—see V. 66, p.
134 ; Y. 67, p. 789. To May, 1898, claims aggregating $8,847,854 had
been paid by the company as damages to abutting property and other
cases were before the courts. See C h ronicle V. 66. p. 954, and V. 67,
p. 789 As to personal property tax assessment in N. Y. City litigation
see V. 64, p. 799; also see V. 66, p. 954, and V. 67 p. 222.
On Sept. 30,1898, loans payable aggregated $2,100,00 ), against
$1,045,000 in 1897; funded debt (unchanged in year), $39,546.000;
taxes in litigation, $1,140,347—see offsets in balance sheet V. 67, p.
1053.
D iv id e n d s — ) ’84. ’ 85. ’86. ’ 87. ’ 88. ’89. ’90. ’91-96. ’97. ’ 98. ’ 99.
Sinoe ’83. P.Ct. > 3
6
6
6 5 See below. 6 yriy. 4*2 4 Below
In 1899, Jan., 1 p. c. In 1889 1 in cash and 4*a in scrip; in 1890, 4*u
cash and 1*2 scrip.
L atest E a r n in g s .—3 months to Sept. 30:
3 m o-.
Gross.
Xet.
Oth. ine.
lot.,taxes,etc.
Balance.
1898........ $1,788,613 $539,610
$47,500
$607,172 def.$20,062
705,562
56,667
607,089 sur.155,110
1897........ 1,970,230
A nnual R epo r t —Annual meeting is aeld the second Wednesday in
November. Report for year ending June 30, 1898, was given in V. 67,
p. 368.
1896.
Year ending J un e SO—
1898.
1897.
$9,256,931
$9,163,740
Gross earnings........................... $9,183,541
3,725,973
3,861,389
Net over operating exp............. 3,856,88 2
232,520
180,276
Other income.......... ................
211,716
2,840,397
2,707,016
Interest, rentals andtaxes—
2,645,323
1,800,000
1,500,000
Dividends.................................... 1,200,000
Balance after dividends.. .sur.$223,275 def.$165,351 def.$681,904
Yr.8ep.30. Passengers. Earnings. Yr.Sep.30. Passengers. Earnings.
$9,745,927
95. .188,072,645
1889-90...185,833,632 $9,388,681 18949,352,115
1895189192...215,122,575 10,908,579
|96.. 182,437,244
9,359 732
1896- 97.-183,184,641
189293...219,621,017 11,137,051
18939 4 .. 196,159,323 10,138,143
1897- 98.-179,728,356 9,204,466
—(V. 67, p. 9 9 9 ,1 0 0 3 , 1 05 3,1055, 1110.)
M arietta & N orth G a. R y .—See A tl a n ta K n o x v il l e & N o r t h .
M a ric o p a <fc Phoenix & S a lt R iv e r V a lle y R R . —Maricopa
to Phoenix Ariz, 36 m iles; Tempo to Mesa, 7 miles; total, 43 miles. A
consolidation in Deo., 1895, of the Maricopa & Phoenix RR. and
Phoenix Tempo & Mesa Ry. Stock, $ i,000,000; par, $100; all ou t
standing. Bonds have a sinking fund of $6,000 annually after 1900.
Under a modification of the mortgage of 1895, agreed to in Dec., 1898,
the total authorized issue was reduced from $860,000 to $750,000, of
w h i c h $648.000 were offered in Jan., 1899, in exchange for $540,000
old Mar. & Pficen. 6s, at the rate of 6 of the 5s for 5 of the old 6s. V.
67, p. 1357. President, N K. Masten; Secretary and Treasurer, F- I.
Kendall, Crocker Building, San Francisco, Cal.—V. 67, p. 1357-
200.000
1,300,000
400.000
122.000
175.000
200.000
5
5
4
4
4
6
4
4*fl
5
4
5
6 to 5
4
4*2
A.
J.
J.
M.
M.
M.
M.
M.
F.
F.
F.
M.
M.
M.
&
&
&
&
&
&
&
&
&
&
&
100
1,000
100
A&$
1,000
1,000
1,000
1,000
A n n ual R e p o r t .—Fiscal year ends June 30 (formerly Sept. 30).
Annual meeting 3d Wednesday in October. Report for the yea r ending
June 30,1897, was in V. 68, p. 686.
1896.
1897.
Tears ending June 30—
1898.
$4,898,036
$4,985,318
Gross earnings........................... $4,758,801
1,615,866
1,612,467
Net earnings............................... 1,647,436
51,860
52,147
Other income.............................
63,040
Net income.
Interest.............
Rents................
Dividends........
Sinking fund..
$2,491,300
122,000
175.000
800.000
800,000
350.000
350.000
693.000
July 1,
July 1,
Jan. 10.
Jan. 10,
July 1,
Apr. 1,
1911
1911
1939
1939
1911
1917
M a son City & F t . B odge R R .—Owns road from Mason City, la.,
to Lehigh, la., 88 miles, and branch, 4 miles. Stook authorized, $5,000,000; outstanding, $920,000; par, $100. In year ending June 30,
1897, gross, $164,009; net, $70,110; charges, $90,266; balance,
deficit, $20,156. In 1895-90, gross, $168,327; net, $72,710. Net our
rent liabilities June 30,1896, $842,352, including unpaid coupons,
$828,000. President, W. C. Tooney, of St. Paul.
M em ph is & C harleston R R .—Sold under foreclosure Feb. 26,
1898, and purchased by the Southern Ry. per plan in V. 66, p. 39.
M exican Central R y . L im ite d (M ex ico ).—(See M ap.)—Mileage
—Main line Mexico City north to Juarez City, 1,224 miles, 407 miles
on Tampico Division, 12 miles on Guanajuato Branch, 161 miles on
Guadalajara Division, 55 miles on Ameoa Ext., 44 miles on Pachuca
Division, Bar extension 6 miles, 40 miles on Laguna Ext. and other
branches 7 miles; total Dec. 31, 1897,1.956 miles. All 56-pound steel.
Extension from Jiminez to Parral, 55 miles, opened in November,
1898.—V. 66. p. 905. Also under construction from Turecuaro, on
Guadalajara Extension, south 28 miles. V. 67, p. 634.
O rg an ization .—Incorporated February 25, 1880, under the general
law of Massachusetts, and also holds a charter from the Mexican Gov
ernment. Debt readjusted in 1889—see V. 48. p. 191, 292, 327.
S u bsid y .—Jan. 1,1898, there was left of the subsidy in trust $2,524,347, to be used whenever necessary for the payment of principal and
interest of the consolidated mortgage bonds, $811,229 having been so
used in 1897. Of the $3,000,000 of Mexican Government bonds re
ceivable under Tampico Harbor concession for a dspth of 22 feet,
$2,790,000 (in Mexican Government 6 per cent bonds) had been re
ceived in April, 1895, corresponding to a depth of 20 feet, and these
were exchanged in 1895 for $2,934,600 of 5 p. c. Government bonds.
B onds .—Of the priority bonds $1,403,000 were paid off with proceeds
of subsidy collections, interest ceasing April 10, 1891; the balance,
$5,597,000, is held as an investment by the trustee of the consoli
dated mortgage. See V. 52, p. 390. The consol, mort., 4 p. c., (trustee,
Boston Safe Deposit & Trust Co.) covers the entire property,all old firsts
deposited, and the subsidy earned and to be earned. (See abstract of
mortgage in C hronicle , V. 49, p. 177.) Both series of incomes are
uon-cumulative and secured by one indenture to the American L. & T.
Co. First consol, incomes received 3 per cent interest July 10,1890, and
3 per cent in Julv, 1891, and 1892, respectively; none since.
The equipment bonds for $1,000,000 (issued in Nov., 1897, and
listed on New York Stook Exchange in February, 1898), are seoured
by a mortgage on the equipment purchased and the deposit in trust
of $1,500,000 general 4s. The company is to pay 5 p. cent of the prin
cipal of the loan annually and a proportional amou.it of fours wiLl be
released. V. 64, p. 843.
G en e r a l F inances .—In May, 1896, $800,000 consol. 4s were sold
for improvements. V. 62, p. 949. On Dec. 31,1897, notes outstanding
were $1,665,000, as against $1,000,000 on Jan. 1,1897; interest due
and accrued, $1,223,460; accounts payable, $561,619. Notes and ac
counts receivable Jan 1, 1898, $1,250,279 (same Jau. 1,1897, having
been $621,998); cash on hand, $1,488,071. Tampico Harbor Co.
bonds of 1894 costing $1,923,938 (all owned by and in the treasury of
the Mexican Central) are guaranteed.—(V. 62, p. 869.)
E arnings .—Mexican cu r.) 1898.Gross, $12,209,243; net, $3,880,102
Jan. 1 to Nov. 30 (11 mos.) 5 1897.Gross, 11,620,709; net, 3,540,803
Statement of earnings and expenses for six months ending June 30.
1898, was given in V. 67, p. 478, showing deficit under interest charges
of $ 255 ,703 , against $85,166 deficit in 1897; adding subsidy receipts
for six months of 1898, $84,979, leaves deficit of $170,724.
A nnual R epo rt —Fiscal year ends Dec. 31. Report for 1897 was
given at lenvth in V. 66, p. 898, 902; see also editorial, p. 879. The
gross earnings below are Mexican cu rren cy; all other figures TT. S.
currency. The company received for its Mexican dollars an average of
48-24 cents in 1897, 53-17 in 1896, 52-95 in 1895, 51-87 in 1894.
INCOME ACCOUNT
(U. S. CURRENCY EXCEPT AS INDICATED).
Tear ending Dec. 31—
1897.
1896.
1895.
1894.
Av’ge miles operated.......
1,956
1,869
1,860
1,860
Gross earns., Mex. cur.$12,845,8l9 $10,208,020 $9,495,866 $8,426,025
Net earns. Mex. cu r... $4,016,318 $3,463,747 $3,896,475 $2,966,350
Do do inU. S. cur. 1,937,483 1,841,515 2,063,157 1,538,693
Subsidy acc’t in U.S.cur
*811,229
300,000
275,000
750,000
Miscell. inU .S. cu r....
97,037
155,941
186,472
142,460
Total net incom e.. $2,845,879 $2,297,456 $2,524,629 $2,431,153
interest on bonds........ $2,378,600 $2,320,533 $2,306,600 $2,306,888
Miscellaneous.......... .
194,867
159,934
208,281
188,449
Bal., inol. subsidy.sur.*273,282
df.183,011 sur.$9,748 df.$64,184
*In 1897, $161,228 from subsidy was used on account of deficit in
1896. President, A A. Robinson; Clerk and Comptroller, J. T.
Harmer.—(V. 66, p .3 3 7 ,4 2 4 , 8 9 8 , 901, 9 0 2 ; V. 67, p. 4 7 8 ,6 3 4 ,
1110,1263.)
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J a n u a r y . 1899.1
RAILROAD
STOCKS AN D
BONDS
su b scrib er» w ill con fer a great fa v o r by g iv in g Im m ed iate notice o f an y error discovered In tbese T a b les.
RAILROADS.
For explanation o f column headings, &c., see notes
on first page of tables.
Mex. In t.—Pr. lien, £1.200,000, red.atpar.Un.xo*&r
1st consol, mort., $16,000,000, gold...M p.xo*& r
Income 4% bonds (no mort.), non-cumulative....
M e x i c a n N a tio n a l—Stock..................................
1st M., subsidy, gold, Bublect to call at 100___o*
2dM.,ser.“ A,” g., inc. accum. (for $16,675,000)c*
2d M.,ser.“ B,” g., inc. non-ac. (for $16,675,000).r
3d mortgage, deb. (income not cumulative) gold.r
Mex. N aV IB y. Co., Lim ited —A ctfs., 5% non-cum..
B certificates..............................................................
Mexican Northern —Stock............................................
1st mort., U. S. gold coin, s. f. not called.S...e*&r
M exico Cuernavaca dk Pac. —1st M., g., $25,000p.m.
M i c h ig a n C en tra l —Stock.........................................
Consol, mort.—now 1st M. ($2,000,000 are 5s)..c*
M. C. Michigan Air Line, 1st mortgage............c&r
M. 0 .1 s t M. on Det. & Bay City ($4,000,000)....o
do
do
do
...r
M. C. 1st mortgage on Orand River Val. R R ... .c*
M. C. 1st mortgage on Kalamazoo & S. H aven.. .r
M. C. 1st mort. on Term. RR., $1,500,000.......o&r
Grand River Valley stock, rental in perpetuity...
Det. & B. City bonds, endorsed, no mort. lien ...c
Bridge bonds, endorsed, no mortgage lien........
Jack.Lans.A Sag. stock,
p.c. y’rly, guar, by end.
Cons, mortgage, assumed, extended in 1891.. o*
Bonds —Print iINTEREST OR DIVIDENDS.
Date Size, or
pal,When Due.
Amount
of
Par
Rate
per
When
Where
Payable,
and
by
Stocks—Last
Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
615
659
1.064
1.064
1.064
1.064
83
83
310
270
115
152
152
84
39
84
295
295
a Exclusive o f $347,000 held by sinking fund, b $2,3
c Of which $15,955,000 held by N. Y. Central & H. R.
1897 £100&o $ 6,000,000
4 1a g. M. & S. London, Speyer Bros. Sept. 1, 1947
1897 $500&c.
4.635.000
4 g. M. & S.
New York.
Sept. 1, 1977
4.499.000
Sept. 1
100 33.350.000
1887
1,000 11.297.000
6 g. J. & D. N. Y., Nat. City Bank. June 1, 1927
1887 50Ó &o. 12.265.000
6 g. M. & S. Paid 3 ^ p.c. Mch., 1898 July 1, 1917
1887 500 dec. 12.265.000
6 g.
See text.
July 1, 1917
1887
1,000
7.040.000
6 g. May 1
July 1. 1937
1896
£2,241,075 See text.
London, when earned. April 2 9 ,189&
1896
£1,911,600
do
do
....
100 $3,000,000 4 in 1898
N. Y., office, 27 Wm. St. Deo. 2, ’9 8 ,1 %
1890
1,000 a l , 313,000
do
do
Deo. 1, 1910
6 g1893
1,000
bl30,000
5 g. A. & O. N. Y. Mercantile Trust. Oct. 1.1943
100 cl8,738,000 4 in 1898 P. & A. N. Y. Gr. Cent. Station. Jan., ’ 99. 2 %
’72-’ 82 1,000 10,000,000 7 & 5 M. & N. N. Y., Union Trust Co. May 1, 1902
1890 l.OOO&o 2.600.000
4
J. & J. Rg.atG.C.S.; cp.atU.Tr. Jan. 1, 1940
1881
1,000
5
M. & S. N. Y., Union Trust Co. Moh. 1, 1931
1881 l.OOO&o 3.576.000
5
Q.—M. N.Y.,Gr’ d Cent. Station. Mch. 1, 1931
’79-’ 86 1,000
1.500.000
6
M. & S. N. Y., Union Trust Co. Sept. 1, 1900
1889 l.OOO&c
700.000
5
M. & N. N. Y., Gr. Cent. Stat’n. Nov. 1, 1930
1896 l,000&o
725.000
J. & J. Rg.at G.C.S. ;cp.at U.Tr. July 1, 1041
....
100
491,200
! * J. & J.
Jackson, Mioh.
Jan., ’99,2^% .
1872
1,000
274.000
M. & N. N. Y., Union Trust Co. May 1, 1902
8
1873
1,000
150.000
M. & N.
8
do
do
May 1. 1903
100
2,000,000
3*8 M. & S. N. Y., Gr. Cent. Station. Sep.1/98,1%%
71&80 1,000
2.054.000
5
M. & S. N. Y., Union Trust Co. Sept. 1, 1901
70,000 additio nal issued to Oct., 189 8, but h eld by Co. and J. H. Ha mpson.
RK. C o.
!
M exican In tern a tio n a l R R . —(See Mop)—R oad .— Owns in
M e x ica n N ation al R y , Co. L im ite d .—This depositary com
Mexico a standard gauge road from Ciudad Porflrio Diaz, on pany was formed in 1896 (per p la n in V. 62, p. 1139, see also p. 635,
Southern Pacific, via Torreon, on Mexican Central, to Durango, 540 by the “ A ” and “ B ” bondholders of the Mexioan National RR. Co. to
miles, with branches, 76 miles; new branohtoTlahualilo, 43 miles, was give them “ more immediate and practical control ” over that 00 mopened Sept. 23, 1896: total operated, 659 miles. Proposed branches, pany. Its share capital is £24,530 in 10s shares, and is deposited in
369 m.—V. 65, p. 151; of this Reata to Monterey, 72 miles, was opened trust to give the control o f the depositary company to the certificate
December, 1898 (V. 67, p. 1357), and construction of extension from holders. The certificates were issued in exohange as follow s: £ 2 5 0
Durango to Guanacevi, reported in October, 1898, to be begun at once. A certificate for a $1,000 “ A ” bond deposited; £200 B certificate f o r
Organized under laws o f Connecticut.
$1,000 “ B ” bond and £125 A and £100 B certificate for a Matheson
certificate. In Dec., 1897, there had been deposited all but about
Stock .—Authorized $25,000,000; issued Nov., 1897, $16,975,000.
B onds.—In 1897 reorganized, reducing fixed charges on 659 $4,200,000 of these securities. The “ A ” certificates haveone vote for every completemiles from $605,360 to about $448,650. Consol. 4s for $3,690,000 two votes, “ B ” certificates
The income received from
the A and B bonds
are to be issued at $10,000 per mile on 369 miles of proposed branches £25.
(of which Reata to Monterey, 72 miles, completed in December, 1898,) deposited will be applied: (1) To sinking fund an amount n o t
exceeding
2
per
cent
o
f
revenue
collected;
(2) to expenses o f London
and $800,000 are reserved for betterments, etc. The total issue of
consols is limited to $16,000,000. The prior lien 4*28 are secured on management not over £2,000 yearly; (3) to 5 per cent dividends o »
A
certificates;
(4)
to
dividends
on
B
certificates.
ividends —On “ A*
line from Cuidad Porflrio Diaz to Durango, 540 miles and 75 miles of certificates, in 1898, April, paid £ 2 15s. 8d. per D
cent. V. 64, p. 755.
branches. See details in V. 65, p. 151,1071. Consol. 4s of 1897 listed Address
85
Grace
Church
Street,
London,
E.
C.—V.
65,
p. 516.
on N. Y. Stock Exchange Feb., 1898. See application in V. 66 , p. 341.
M exican N orthern R y . —Owns from Esoalon, Mexico, on the
E arnings—Mex. our’cy. $ 1898... Gross, $3,082,310; net, $1,246,900 Mexioan
Central Ry., to Sierra Mojada, 83 miles, all steel.
Jan. 1 to N ov.30,11 mos. (1 8 9 7 ...Gross, 2,757,418; net, 1,000,827
.—Capital stock is $3,000,000; see application for listing on
A nnual R eport .—Report for year ending Dec. 31,1897, was given at N.Stock
Y.
Stook
Exohange in full, V. 64, p. 619.
length in V. 66 , p. 611, 616, see also editorial, p. 688 , showing earning8
1893.
1894.
1895 to Deo., 1898.
D iv id e n d s ................) 1892.
as follows: Gross on average of 659 miles, $3,043,037 (Mexican cur
Per cen t.. . . . . . . . . . 5 6 1a
6 1a
6
4 yearly
rency); net, $1,088,850; in U. S. money, net, including other income,
$527,669; interest, etc., $489,281; balance, surplus, $38,289. In 1896,
B onds.—The mortgage is for $1,660,000, of whioh $347,000 held b v
gross (Mexican currency), $2,912,107; net, $1,065,022. President, T. the sinking fund in June, L898. See V. 60, p. 482.
H. Hubbard. N. Y. office, 23 Broad 8 t. (V. 67, p. 1357.)
E arnings—5 months, (1898............. Gross, $269,047; net, $142,697
M exican N ation al R R . —Owns narrow gauge road from Laredo
July 1 to Nov. 30.
(1 8 9 7 ............ Gross, 229,963; net, 13 7,48 0
to City of Mexico, 842 miles; Acambaro to Patzouaro, 96 miles; El
A nnual R eport .—Earnings as follows in U. S. currency:
Salto branch, 45 m iles; Matamoras to San Miguel, 76 miiea; small
Tear.
Cross.
Net.
Other inc. Charges. Dividends. Surplu s
branches, 5 miles; total owned, 1,064 miles; controls through owner
$316,793 $23,641 $137,383 $120,000 $83.051
snip o f stock, Texas Mexican Railway, Corpus Christl to Laredo, 1897-8..$548,395
1896-7..
603,671
329,991
19,941
135,439 120,000
94,493
Texas, and branch, 163 miles; other lines, 5 miles; total 1,232 miles, 1895-6.. 763,871
13,873
142,080 120,000 173.019
Gauge, 3 feet; rail (steel and iron) 40 and 45 pounds to the yard. Oct., —V. 63, p. 7 9 2 ; Y. 64,421,226
p.
611,
619;
V.
65,
p.
6
7
9
.
1898, extension, Patzouaro to Uruapan, 47 m., under construction.
M e x ic o C u e r n a v a c a Sc P » c . R R .—Mexico to Cocula, 160 miles
H istory .—A reorganization of the Mexican National R ailw ay fore
closed May 23,1887. See also Mex. National Ry.-Co., Limited, below. in operation, and remaining portion of road to Aoapuleo, 150 miles,
under construction in Oct., 1898. Concession from Mexioan Govern
Subsidy .—In March, 1895, holders of first mortgage [also called prior ment was transferred to present company June 9, 1891. As to
lien] bonds accepted the plan for conversion of unpaid subsidy certift subsidy from Mexican Government, sen Y. 67, p. 901. Stock, $6.cates into Mexican Government 5 p. c. bonds, uncollected subsidy, 000,000 ..par, $100; outstanding, Oct., 1898, $2,432,000. Bonds ($25,
$3,335,685, to be settled by deposit of $4,544,300 of Mexican Govern 000 per mile authorized), 1st mortgage, gold, 50-year 5s, due Oct.
ment 5s as security for the firsts of 1887.—(See V. 62, p. 593,1139.)
1943, interest payable A. & O. in New York. Pres, and Gen. Mgr., J.
STOCK.— Stock, $33,350,000 (par $100). placed in trust with the Hampson, M exico City, Mex.; Sec. and Treas., Charles Wheeler, Den
Farmers’ Loan & Trust Company, leaving the road in control of 1st and ver,Col. General offices, Mexico City, Mex.—V. 63, p. 154; V. 67, p. 901
2 d mortgage bondholders until it earns and pays interest on both classes
M ic h ig a n C e n tr a l R R . —( See Map adjoining New Tork Centra
o f bonds for two consecutive years. The first mortgage bonds have page.) —L ine op R oad .—Main line—Kensington to Detroit, 270 miles
tw o votes], the 2d mortgage, A. & B., bonds one vote each [24,530 and Windsor to Suspension Bridge (Canada Southern), 226 miles;
in all]. The Mexioan National Construction Company owns a ma total main line, 496 miles. Branches owned and leased 1,147 miles;
jority of the stock and $7,000,000 of the 3d mort. incomes.—See V. 63,p trackage 111. Cen., 14 miles; total January 1, 1898, 1,657 miles.
1115; V. 64, p. 1137. Capital reserve fund Jan. 1,1897, held $734,786 There are 254 miles of second track and 925 miles o f side tracks.
B onds.—The first mortgage of 1887 is a prior lien upon all the
Organization, L eases, &c.—The Michigan Central was chartered in
lines in Mexico, constructed or to be constructed, and upon the Texas 1846; the whole line, Detroit to Kensington, was opened* in 1852. The
Mexican securities. The bonds are redeemable on notice at par. Trus lines described above as leased are all held by the Michigan Central
tees Hugh M. Matheson and Capt. W. G. Raoul. Original issue $12,500,- nominally under leases at fixed rentals. To enter Chicago uses the
0 0 0 , which has been reduced to present figure by redemption with sub Illinois Central from Kensington under a perpetual lease. The
sidy, $116,000 bonds being paid in 1897, against $46,000 in 1895.
Terminal RR, owns from Union Stook Yards to Chappel, Illinois.
As to 2<i m ortgage bonds see Supplement of April, 1897, and “ Mexi
Control of the road was acquired by the N. Y. G. & H. R. RR. Co.
oan National Ry. Co., Limited” , below.
in April, 1898, as stated below.
On series “ A ” bonds from earnings 2 per cent was paid March 1,
C
an a d a So u th ern Con tract .—In Nov., 1882, a dose contract was
1893; 1 per cent on April 1,1895; leaner cent on April 10,1896; 3p. o.
Mar. 22,1897, at Nat. City Bank, N.Y., and in London; 3*2 p. c. in N.Y made with Can. So. for the operation of its road. The contract provided
for
a re-apportionment every five years and in the re apportionment
City on April 4 ,1898. Temporary loan of 97, $200,000. V. 66 , p. 6 6 6 .
December, 1892, it was agreed that the Canada Southern should there
E arnings —11 months, J 1 8 9 8....Gross, $5,712,517; net, $2,684,951 after receive 40 per cent and the Michigan Central 60 per cent o f the
Jan. 1 to Nov. 30.
1 1897___Gross, 5,481,182; net, 2,667,527 first $1,000,000 of net earnings, any amount over that to be divided
Net available for interest (11 mos.), $1,182,214 in 1898; $1,270,892 in as theretofore—one-third to C. 8. and two-thirds to M. 0.; but under the
1897. Above figures are in Mexican currency, to be valued at 80 cents on original contract each company is accorded all benefit from reduction
the dollar in U. S. money, all other depreciation having been allowed for. in its fixed charges. The M. C. to Jan. 1,1898, had reduced its charges
A nnual R eport —Fiscal year ends Deo. 31. Report for 1897, with $327,000; this sum is therefore credited to it before the d ivision
the balance sheet, etc,, was given in full in V. 6 6 , p. 661, 666 ; sec also made.—(V. 64, p. 5.)
Ca p it a l Sto c k .—The stock has rem ained at same am ount since 1873
editorial p. 642. Gross below are in M exican cu rrency, all other figures
in JJ. S. currency. Mexican currency is reduced to U. 8 . currency at 8
D iv id e n d s . >’83 ’ 84 ’ 85-86 ’ 87-89 ’ 90 ’91 ’92-94 ’95 to F eb .,’9 ?..
p. o., all loss above this being charged off in exchange account
P ercen t— 5 5
3
nil. 4 yearly 5
5 5*2 y’rly
4 yearly
INCOME ACCOUNT— (U. S. CURRENCY EXCEPT GROSS EARNINGS).
B onds.—The Jackson L a n sin g <6 Saginaw bonds were assumed by
Tear end’g Dec. 31— 1897.
1896.
1895.
1894.
Michigan Central, whioh also guarantees in perpetuity 3*2 per oent on
Miles operated..................... 1,218
1,218
1,218
1,218
the stock. The B ay City <6 Battle Creek mortgage is for $1,800,000,
Gross earnings.......... $6,080,663 $5,299,025 $4,513,206 $4,329,079 but amount outstanding is limited to $15,000 per mile. The
Net earnings...............$2,388,991 $2,020,766 $1,657,126 $1,513,570 total issue of Battle Creek <& Sturgis bonds is $500,000, but
Subsidy receipts............................
............
99 n o of this $79,000 was sub-guaranteed by the Lake Shore & Michigan
Southern, 7 miles of the B. C. & S. being operated by that company.
Total net income..$2,388,991 $2,020,766 $1,657,126 $1,612,680 The Bay City & Battle Creek and the Battle Creek & Sturgis issues both
Int. on 1st M. bonds.. $680,720
$687,755
$693,070
$694,680 carry the guaranty of the Michigan Central endorsed on the bonds.
In 1896 bonds for $1,500,000 were authorized on terminal proper
Exchange.................... 1,175,449
805,120
707,941
718,071
Misc., bet’m’ts, e tc ...
114,456
125,269
97,227
74,761 ties acquired in Chicago and East Chicago,—Y. 64, p. 886.
Operations, F inances, &c.—The road is operated under a close con
Balance.............. sr.$418,366 sr.$402,622 sr.$158.888 sr.$125,168 tract with Canada Southern, and the earnings of both roads are included:
—(V. 64, p. 517, 548, 5 6 3 , 5 6 9 ; V. 66, p. 6 6 1 , 664, 6 6 6 , 760,1110.) in the statistics below. As to division of profits between the com -
9 0
LNTESTOKS’
SUPPLEMENT.
[VOL. LXVIII.
RAILROAD
J a n u a b y , 1899.1
STOCKS
AN D
91
BONDS.
Subscribers w i ll con fer a great fa v o r by g iv in g im m ed ia te notice o f a n y error discovered in tbese T a b les.
Bonds —PrlnclINTEREST OR DIVIDENDS.
_________________-----------------------------------------------JMlles Date Size, or
When Dae.
Amount Rate per When Where Payable, and by pal,
Slocks—Last
of
Par Outstanding
F or explanation o f column headings, Ac., see notes of
Whom.
Road. Bonds Value.
Cent. Payable
Dividend.
on lirst page of tables.
M ic h ig a n C en tra l—( Concluded )—
18
Bay City A Battle C., 1st M., gold, gu-p.A i. end.o*
41
Battle C. A Sturms 1st M., gold, gu. p. A i. end.o*
45
Joliet & North.Indiana 1st M., guar. p.&i. (end.).e
13
Middletown Un. A W. Gap— IstM ., ext.ln ’ 86........o*
2d mortgage, int. guar. ext. in 1897 (see text)..o*
M idland Term, lstm .,*600,000,gold, red. at 105Fc* *30
M ill C reek A M ine H ill Nav. A R R . —S t o c k .........
Milw. Benton Harb. A Col.—Consol. M., g., $900,000 *60
M ilwaukee L a k e Shore A Western —See Chicago A Nort
Milwaukee A Lake Winnebago —Com.stk.$1,000,000
1st preferred stock, $980,000, 6 per cent, cu m ...
2d preferred, $600,000.............................................
66
1st mortgage, gold................................................. c*
Man.Div. 1st M.,$1,000,000,g,sub.to call 110..c&r
Divisional construction scrip, gold, red. at par..
66
Income mort. (cumulative), gold.........................o*
Debentures, convert., gold, see remarks............ o*
M ilwaukee A Northern —See Chicago Milwaukee & St. Pa
52
Mine Hill A Schuylkill Hav.—Stock (6 p. ct. rental).
Mineral Range —Stock $400,000................................
17
New consol. M .,$600,000, gold,red. at 105.........c
M in n e a p o lis & St. L o u is —Common stock...........
1st preferred stock, 5 per cent, cumulative..........
2d preferred stock, 5 per cent, non-cumulative...
27
1st M., Minn, to Merrfam Jo., gold..................... c*
93
1st mort., Merriam Junction to State Line,gold, o*
15
1st M. Minn.& Dul., Minn, to White B.Lake, g o ld /
Iowa exten. 1st M., g.(Al. Lea to Fort Dodge) g.o* 102
53
Mort.on Southwestern exten., g. ($12,000 p.m.)c*
92
Pacific extension 1st mortgage, gold..................c*
First consolidated M., $5,282,000, gold.........c*&r
First refunding mortgage, $ 25 ,000,000 ............. 281
1889 $1,000
1889
1,000
1877
1,000
1866 100 Ac.
1871 500 Ac,
1895
1,000
1897
h -Wes
....
1882
1895
1882
1884
Ul.
1891
1877
1877
1877
1879
1880
1881
1894
1899
1,000
TERN.
$73,480
$45,401
$28,389
3
3
7
5
5
5
10
5
g. J. &
g. J. &
J. &
g. M. A
J. &
g, J. &
J. A
g. M. A
D.
D.
J.
N.
D.
D.
J.
S.
1,000
1,000
1,000,000
780.000 See text. F. & A.
520.000
1,430,000
6 g. J. & J.
1,000,000
6 g. A. & O.
75,000
7 g. At mat.
520,000
5 g. J. & J.
247,000
6 g- A. & O.
50
100
500
100
100
100
1,000
5Ó0&C.
1,000
1,000
1,000
1,000
1,000
1.000
4,210,200
5*2
393,400
340,500
5 g.
6,000,000
2,500 000 5 in 1898
4,000,000 3*8 in ’ 98
455,000
7 g.
950,000
7 g.
280,000
7 g.
1,015,000
7 g.
636,000
7 g.
1.382,000
6 g.
5 g.
5,282,000
5.000,000
4 g.
100
100
1,000
1,000
panics, see explanation V. 64, p. 5. All betterments and improvements
to the road have been charged to operating expenses.
In 1898 purchase was arranged of the capital stock by the
N. Y. C. A H. R. RR. Co., which gave in exchange its 3*q per cent
100-year gold bonds at the rate of $115 in bonds for $100 in stock.
V. 66, p 759. In .1an.. 1899, $15,955,000 of the $18,738,000 stock had
been acquired by the N. Y. C. & H. R. RR. Y. 66, p. 1238.
A nnual R eport .—Annual meeting Thursday following first Wednes
day in May. Report (partly estimated) for 1898 in V. 67, p. 1354.
T ear en ding Dec. 31
1898.
1897.
1896.
1895.
Uross earnings...___ $13,924,000 $13,697,238 $13,821,614 $13,651,419
Net earnings............. 3,499,000
3,447,728 3,429,263 3,468,188
74*59
75*19
P. c. op. ex. to earns..
67-69
74*83
N et,incrgotherino.. $3,513,000 $3,492,347 $3,468,948 $3,517,265
184,310
184,310
Rentals p a id .......... t o so n non 5
184,310
Interest on deb t... (
¿,420,000 } 2,230,714 2,210,255 2,217,891
296,474
304,715
Can. Southern share.
300,000
282,402
Dividends.................. (4)749,520 (4)749,520 (4)749,520 (4)749,520
Surplus...............
$250,000
421,000
800,000
150,000
250,000
600,000
323,375
405.000
$60,829
Traffic.—Of the 7,470,951 tons carried in 1895, grain contributed
N. Y., Union Trust Co.
N. Y.. Union Trust Co.
N. Y., Farm. L.A Tr. Co.
N. Y., N. Y. Suso. A W.
do
do
N. Y., Farm. L. A T. Co.
Philadelphia.
N.Y., Mercantile Tr.Co.
Dec. 1. 1989
Dec. 1, 1989
July 10,1907
Nov. 1, 1911
June 1, 1910
Deo. 1, 1925
Jan, ’99, 5%
Sept. 1, 1947
Boston, Of., 50 State St. Feb.15,’97,3%
Boston, Meroh.,Nat.Bk. July 1,
1st coupon A pr.l, 1897 Oct. 1,
Oct. 1,
Boston, Merch. Nat.Bk. July 1,
Apr. 1,
do
do
1912
1926
1900
1912
1904
J & J. Phila.,Office, 119 S. 4th. Jan.15, ’99.21«
Feb.,’98, 3*fl%
J. A J. N. Y., Nat’l City Bank. Jan. 1, 1931
J.
J.
J.
J.
M.
J.
J.
A.
M.
A
A
A
A
&
A
A
A
A
J.
J.
J.
D.
N.
D.
D.
O.
N.
N. Y. Central Tr. Co.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Jan. 14,’9921«
Jan. 14, *99, 2
Jan. 1, 1907
June 1, 1927
Jan. 1, 1907
June 1, 1909
Deo. 1, 1910
Apr. 1, 1921
Nov. 1, 1934
1949
etc., $83,618; surplus, $5,991. Claims for rental carried in suspense)
amounted on Nov. 30,1898, to $77,234. (V. 67, p. 1 3 0 8 ,1 3 5 4 , 1356.
m in e H i ll Sc S ch u y lk ill H a v e n R R .—From Schuylkill Haven
to Locust Gap, Pa., etc., 52 miles. In 1897 rental reduced to 6 p. o.
on stook under new lease for 999 years from Jan. 1, 1897, to Phila. A
Read. Ry. Co. Dividends paid stockholders are 2 ^ p. o. in Jau. and
3 p. c. in July, *2 p. c. being deducted for taxes.—V. 63, p. 1011.
m ineral R an ge R R , —Houghton, Mich., to Calumet, Mich., 14
miles, standard gauge; oranches and sidings, 3 miles; total, 17 miles.
H istory , EJtc.—Operated in close connection with Hancook & Cal timet
(which see.) Reorganized in 1891. In year 1895-6 paid dividends 101«
p. c.; in 1896, 3 ^ ; 1897, 3 ^ ; Aug., 1897, 3is p. c.; Feb., 1898,3ifl p. o.
B ond.8.—The consolidated mortgage covers all the property, including
$250,000 of Hancock & Calumet stook, which is five-sevenths of the
whole issue. Mortgage is for $600,000, of whioh there are reserved for
old bonds $7,000 with trustee. There are $13,300 old bonds outstand
ing. Loans and bills payable June 30,1898, $148,500. Of tonnage
oarried in 1897-8, bituminous ooal was 25 p. o.; lumber 8 p.c. and for
est products 10*5 p. c.
E arnings.—For year ending June 30, 1898, on 17 miles, gross >
$139,732; net, $10,049; other income, $12,072; interest, etc., $26,339;
dividends (3*8 p. c.), $13,769; bal., surplus for year, $12,413. In 189 3-7.
gross, $115,039; net, $oi,497. Office, 45 William Street, N. Y.
M in n eapolis Sc St. L o u is R R .—(See M ap.)—Owns main line,
Minneapolis to Angus, la., 260 miles; Western Div., Hopkins to Morton
93 miles; Kalo Branch, 1 *2 miles; Lake Park Branch, l ^ miles; total
operated, 356 miles. Leases trackage from Minneapolis to St. Paul
over St. Paul A North. Pae. RR., 11 miles. Also owns, but leases to
Bur. C. R. & Nor., Albert Lea to Iowa State Line, 13 miles, and from
Minneapolis to White Bear Lake, 13 miles, which is leased to the St.
Paul & Duluth Railroad.
In Jan., 1899, arranged to buy from the Rock Island 123 miles of
road, Morton to Watertown, So. Dak., part of the 217 miles of the
unbonded Wis. Minn. & Pao. theretofore operated by Minn. A St.
Louis, but with accounts kept separate. Also to extend the Ne w (Jim
branch through rich grain and live-stock country to 111. Central RR. at
Storm Lake, la., 140 miles. V. 68 , p. 130. See description of M. A St
L. RR. Minneapolis terminals in V. 65, p. 732.
H istory .—A reorganization in October, 1894, as per plan given in
V. 59, p. 371, of the Minneapolis A St. Louis Ry., sold Oct. 11,1894, at
foreclosure under improvement and equipment mortgage.
Stock .—The capital stock of the new company is common, $6,000,000; first preferred, 5 p. o., cumulative, $2,500,000; second preferred,
5 p. c., non-cumulative, $4,000,000. Under the plan, old common ana
old preferred were assessed $25 per share, new first preferred being
issued for assessment. All classes of stock have equal voting power.
D ividends .—On first p referred : In 1895, 3 ^ per cent for 8 months ;
in 1896, 5 p. c.; in 1897, 5 p. o.; in 1898, 5 p. o.; in 1899, Jan., 21a
p. c. On second p referred non-cum.: In 1896,3 p. o.; in 1897. 3 p.c.; in
1898, 3*2 p. e.; in 1899, Jan., 2 p. c. Yearly rate increased to 4 p. o
n July, 1898.—V. 66 , p. 1189.
B onds , E tc .—Bonds issued under the mortgage due June, 1927, num
bered from 1,101 to 1,400, for $500 eaoh, additional to those above
were assumed by the Burl. Cedar Rapids & Northern RR.
As to first consol, mortgage (see abstract V. 59, p. 1145.) The re
funding mortgage of 1899 limits the issue o f first consols to $5,282,00 0 , the amount now outstanding.
First refunding mortgage of 1899 is for $25,000,900, o f whicn
$5,000,000 sold as below stated, $10,000,000 reserved to retire un
derlying bonds, $2,500,000 to retire 1st pref. stook and $7,500,000 for
future extensions, improvements, etc., under severe restrictions. On
completion in 1899 of the extension of the New Ulm branch, the mort
gage will be a first lien on 281 miles of road, etc., and a blanket lien on
rest of company’s property.
General Finances. —In Jan., 1899, sold $5,000,000 of new4s to pur
chase 123 miles of road and to build and equip 140 miles extension of
New Ulm branch—see above and V. 63, p. 130.
E arnings—5 m os.,)1898 ............Gross, $L,024,073; net, $458,694
July 1 to Nov. 30. 5 1897............. Gross, 1,072,857; net, 447,709
A nnual R eport .—Fiscal year ends June 30. Report for 1897-98 was
given at length in V. 67, p. 786. 791. See also editorial d. 768.
1895-96.
E arnings —
1897-93.
1896 97.
$405,605
$457,480
$412,034
1,500,379
1,469,069
1,650,508
122,316
133,593
125,350
8*7peroent; bituminous coal, lO V p. c.; anthracite, 6*8 p. c.; lumber
and forest products, 20*7 p. c. Average rate per ton per m. *617 cents.
In 1896 carried 7,276,270 tons; average rate *636 cent.
—(V. 66, p. 617,664, 760, 8 9 7 , 1002, 1238; Y. 67, p. 1354.)
m iddle T e n n . Sc A la . R y ,—Purchased by Nash. Ghat. & St.L. 1897*
M id d leto w n (Juiouville A W a ter Gap U R ,—(See M ap N. F*
Susquehanna A Western.)—Owns from Middletown, N.Y., to Unionville,
N. J. State line, 13*65 miles. Stook, $149,850; par, $50. Controlled
through ownership of stock by New York Susquehanna A Western,
which pays interest on bonds. Principal of the second mortgage 5s,
due Deo. 1,1896 ($250,000), was extended at same rate to l9lO . In
year ending June 30, 1898, gross, $49,986; net, $19,922; charges.
$20,000; bal., deficit for year, $78. In 1896-97, gross, $47,900; net,
$19,717.—(V. 63, p. 1010,1159; V. 64, p. 664.)
m id la n d T e r m in a l R y . —R oad .—From Divide, on the Colorado
Midland RR., to Cripple Creek, 30 miles; opened in Deo., 1895.
This line shortens the distance from Denver to Cripple Creek about 70
miles. Stock, $1,000,000; par, $100. The first mortgage was for $1,000,000, but reduced by cancellation to $600,000; bonds are redeema
ble at 105. For year ending Nov. 30,1898, gross, $433,521; net, over
oper. expenses, taxes and rentals, $180,985; annual interest charge,
$30,000. Annual sinking fund equal to 5 p. c. of gross earnings began
June 1,1896, to purchase or to call at 105. President, D. R. C. Brown,
o f Aspen, Col.; Vice President. Treasurer and Gen. Man., W. K. Gillett.
—V. 61, p. 967; V. 66, p. 520; V. 67, p. 1357.
m i l l Creek. Sc m in e m i l N avigation Sc R R . —Palo Alto to
New Castle, Pa., 3*8 miles; branch 2*8, second track 3*8 miles; total
track, 29 miles. Leased July 25.1861, for 999 years to Phila. & Read
in g RR. and leased assumed in 189 i by Phila. & Reading R ailw ay;
rental $33,000 and all taxes.
m ilw a u k e e R en to n H a rb or & C olu m b u s R y .—Completed
(Sept., ’ ■•7), Benton Harbor to Buchanan, Mich., 27 mile*», to extend to
Nappanee, Ind., on the B. & O. RR. The capital stock at consolidation
was $600,000; par, $100; outstanding Feb., 1898, $270,000. The com
pany has filed a consolidated mortgage to seoure $900,000 of 50-year
5 per cent bonds. The officers are President A. A. Patterson, Jr.,
Benton Harbor, Mioh.; Secretary, Fred. McOmber, of Berrien Springs,
Mich. Treas., F. L. Reeves, New York City. (V. 65, p. 572.)
m ilw a u k e e Sc L ake W in n eb a go R R . —Owns Neenah to Sehleisingerville, Wis., 65 miles. Manitowoc Extension, 45 miles, was opened
in July, 1896. Leased for 99 years to Wis. Cent, at 37*v per cent of
gross earnings as rental; but after $175,000 per year is reoeived,
the balanoe of net earnings is to be equally divided. In May, 1897,
lease suspended and an arrangement made by which Wisconsin Cen
tral temporarily paid, without prejudice to ultimate claim under
lease, net earnings in lieu of rental—see V. 64, p. 903. The Manitowoc
Extension was leased until August 1,1897 “ for substantially $72,000
per annum.” —V. 62, p. 1098. There are three car ferries across the lake
at Manito woe. —V. 62, p. 636.
D ividends .—Preferred paid 9 per cent per annum to Feb., 1894,
being regular 6 percent, and on account of accrued back dividend an
additional 3 per cent; in 1895, 6 p. c.; in 1896, Feb., 3 p. c.; Aug., 3
p. c.; in 1897, Feb., 3 p. c.; none since to July, 1898. In February,
1893,10 per cent extra was naid. Only 5 p. o. accumulated dividends
$2,246,581 $2,006,505 $2,028,300
on preferred remained unpaid in Deo., 1896. The Manitowoo Exten
$324,748
$807,377
$878.6H5
sion and Terminal improvements in excess of the divisional bonds are
87,572
96,949
112,703
paid for out of net earnings and dividends are meantime suspended
on preferred stock.
$912,320
Total net income.
$904,326
$991,368
B onds .—Debentures Nos. 1 to 200 are convertible on any coupon day
580,540
580,540
580,540
into preferred stock, and Nos. 201 up into common; the lessee pays in
245,000
265,000
245,000
terest on them during first ten years after issue. Real estate mort
gage notes, Nov. 3 0 ,1 8 9 3 , $47,472.
$86,780
$145,828.
$78,786
President (Elected Oct., 1896), Edwin Hawley.
R eport . Report for 189 -98, in V. 67, p. 1354. showed net over ex
penses and taxes, $205,981; interest, etc., $201,434; balanoe, surplus, - V 65, p .4 6 1 ,715, 7 2 4 ,7 3 1 ; V .6 6 ,p .ll8 9 ; V. 67, p. 768, 7 8 6 , 7 91
$4,497. For 5 month* ending Nov. 30,1898, net, $89,600; interest. V. 68, p. 130.
MINNEAPOLIS & ST. LOUIS
92
RAILROAD & CONNECTIONS.
INTESTOKS’
SUPPLEMENT.
M AP OF THE
O
t*
r
M
<
January,
93
RAILROAD STOCKS AN D BONDS.
1898. |
Subscribers w i l l con fer a great fa v o r by g iv in g Im m ed iate notice o f any error discovered In these T a b les.
Ronds —Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
When
Where
Payable,
and
by
Rate
per
Par
of
(For explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
M inn. at. P a ul A Sault Ste. Marie.—Common stock.
Preferred stock, 7 per cent, non-cumulative— .
Minn Sault Ste. Marie & Atlantic 1st M. gold-.c* 495
Minneapolis & Pacific. 1st mort., $15,000 p. m ..cx 286
Consol. M., gold, int. guar, (end.)—See text— c* 970
Income certificates..................................................
Car trusts June 30,1898 — ....................................
M inn esota T ransfer —1st mort.—($400,000 are 4s)c
40
M iss. R iver Hamb. A IT.—1st M., gold, $400,000..c
28
M ississguoi Valley —Stock............. ..............................
M i s s o u r i K a n s a s & T exa s —Common stock........
Preferred stock, 4 per cent non-cumulative........
Tebo. & Neosho 1st mort., gold, s. f., red. at 100.. 100
M. K. & T. 1st mortgage, g o ld ................................. 1,601
2d M. (formerly incomes), see text, gold M e ... 1,601
1st M. extension bonds, gold, $20,000 p. m...c*
Mo. K. & Eastern 1st M., $4,000,000 g., assumed. 162
162
2d M.. $500,000 gold, guar., assumed................
Guaranteed bonds—
Kan. City & Pacific 1st mort., gold, int. gu. en d.c'
Dallas & Waco 1st M.,$20,000 p.m., g.,p.& i. gu.o*
M. K.&T. in Texaslst M., $20,000p.m.. gold, gu.c*
Booneville Bridge, 1st M., gold., gu., dr*n at iOO.c*
Guar, bonds o f com panies operat'd separately —
8h.Sh.&So.lstM.,$20,000p.m.g.,gu.,p.&i.(end.)c*
8. W. Coal & Imp. 1st M. guar. p. &1. end. s. f . in ’ 99.
M i s s o u r i P a c iflo —Stock. $55,000,000 authorized.
Pac. RR. of Mo. 1st mort., extended in 1888, gold
2d mort. ext. in 1891 in gold, St. L. to K. C..e*
1st M., St. Louis real estate, ext. in 1892, gold.
1st M. Carondelet Br., g., gu. p.& i.(end.)ext.’93
3d M. (coverig all property of Pacific RR. of Mo.)
1886
1886
1888
1890
1886
1897
1870
1890
1890
1894
1892
1892
125
67
132
1890
1890
1892
1873
155
1893
1889
283
283
13
296
1868
1871
1872
1873
1876
$100 $14,000,000
100
7,000,000
8|280;000 4 g .& 5 J. & J. N. Y., Morton, B. & Co.
1,000
do
do
3,130,000
4 (5) J. & J.
1,000
do
do
1,000 16,935,000
4 g- J. & J.
771,000
New York A Chicago.
7i3j645
1,304,000
4 & 5 F. & A.
1,000
400,000
5 g. M. & N. N. Y., Col. Trust Co.
1,000
St. Albans, Vt.
500,000 See text. J. & J.
100 52,450,000
100 13!oo6|66o
187,000
7 g. J. & D. N. Y. Office, 45 Wall St.
1,000
do
do
4 g. J. & D.
500 &o. 39,813,000
do
do
20,000,000
500 &o.
4 g. F. & A.
do
do
998,000
1,000
5 g- M. & N.
do
do
4,000,000
1,000
5 g. A. & O.
do
do
500,000
1,000
5 g- A. & 0.
1,000
1,000
1,000
$ &£
2,500,000
1,340,000
2,685,000
480,000
1,100,000
1,000
1,000,000
1,000
100 47,442,375
7,000,000
1,000
2,573,000
1,000
800,000
500 &o.
237,500
500
3,828,000
1,000
M in n ea p o lis St. P a u l Sc Sault Ste. M arie R y ,—Owns Minne
apolis to Sault Ste. Marie, Mich., 490 m iles; branches, 32 miles; from
Minneapolis northwest to Kulm, No. Dak., 308 miles; Hankinson to
International Boundary Line, No. Dak., 344 m iles; trackage in Minne
apoiis, 8t. Paul, etc., 20 m iles; total, 1,195 miles. In Nov., 1899, extern
•sion from Kulm, N. D., to Niishek, about 78 miles, in operation, and
being completed towards Bismarck.
H istory .—Formed June, 1888, by consolidation of the Minneapolis
Sault Ste. Marie & Atlantic, the Minneapolis <& Pacific, etc. (See V.
46, pp. 538, 609.) Controlled by Canadian Paciflo, which Jan. 1,1898,
ow n ed $7,066,600 common and $3,533,400 pref. stock and $2,760,000 consols.
B onds.—Can. Pac. guarantees by endorsement 4 per cent interest on
all the bonds assenting to a reduction of interest to 4 per cent. (See
V. 50, p. 784; V. 51, p. 239. About one-half the Minn. & Pac. bonds
¿and practically all of the other issues assented. Y. 54, p. 799.)
Abstract of Minneapolis Sault Ste M arie A A tlantic mortgage in V. 45,
p. 243. The consol, mortgage o f 1888 (trustee, Central Trust Co., mort
gage abstract Chronicle, V. 47, p. 142), was for $21,000,000 on 800
miles (sufficient of this amount being reserved to retire the prior
bonds) and for $20,000 per mile on all additional mileage.
G eneral F inances.—June 30, 1898, funded debt, $29,829,646; cur
ren t liabilities, $3,319,658; current assets, $1,084,630. Of 2,661,344
tons carriedin ’ 97-8, lumber was 33 p. c., grain 12 p. c., flour 14 p. o.
L atest E arnings.—5 m .) 1 8 9 8 ....Gross, $2,124,500; net, $1,020,477
July 1 to Nov. 30.
51897....G ross, 2,001,322; net,
992,835
E arnings.—In 1897-98, gross, $4,175,718; net, $1,738,818; rentals,
$130,556; interest, $1,206,074; surplus, $402,188. (Y. 65, p. 6 17.)
M in n eso ta T ra n sfer B y . —A union road, owning 14 miles, ex
tending from junction with Chic. Mil. & St. Paul at Merriam Park to
Fridley (with stock yards, etc.); side traoks about 33 miles; total 47
■miles. In 1898 purchased New Brighton stook yards and Minnesota
Belt Ry. & Transfer Line, 11 miles long, issuing $400,000 4s therefor.
(V. 67, p. 956 ) Has $63,000 capital stock, equally owned by nine
companies, including:
Chicago Milwaukee & St. Paul, Northern Pacific, Chicago St. Paul Minn. &
Omaha, Minneapolis & St. Louis, W isconsin Central, Chicago Burlington &
Northern, Great Northern, Chicago Great W estern and Minn. St. Paul & Sault
S te. Marie.
Additional bonds can be issued for property and improvements as
required. Principal only is payable in gold. Mortgage trustee, St.
Paul Trust Co., St. Paul, Minn.—(V. 66, p. 1238; V. 67, p. 956.)
M issisq u o i V a lley B R ,- R o a d , St. Albans to Richford, Yt., 28
miles. Leased July 1,1888 to Central Vermont RR. at annual rental
of 4 p. c. on stook o f $500,000. Central Vermont went into receiver’s
hands in March, 1896, and Missisquoi Valley net earnings are now paid
o v e r to that company pending final disposition o f the lease. No divi
dend was paid in July, 1896, or J anuary or July, 1897; June 1 ,1 89 7 ,1
per cent was paid; Nov. 1, 1 p. c.; Deo. 23,1897,
p. o.
M ississip p i B iv e r H a m b u rg & W e ste r n .—Hamburg to Luna,
Ark., 41 miles, of which 20 miles operated in Sept., 1898, and bal
ance in Nov., 1898. Stock, $400,000; all issued. President, L. A.
•Cole, 100 William Street, New York.
M isso u ri K a n sa s Sc T ex a s B y . (See Map.)—R oad .—Operates a
line with northern termini at St. Louis, Kansas City and Hannibal,
Mo., extending southerly across the Indian Territory and the Texas cot
ton belt to tidewater at Galveston, on the Gulf of Mexico. It embraces:
4
5
5
7
g.
g.
gg.
F.
M.
M.
M.
5 g. J. & D.
6
J. & J.
4
5
5
4ifl
7
g.
g.
g.
g.
F.
J.
M.
A.
M.
do
do
do
do
& A.
<fe N.
& S.
& N.
&
&
&
&
&
A.
J.
N.
O.
N.
do
do
do
do
do
do
do
do
N. Y., Mercantile Tr. Co.
do
do
do
do
do
do
do
do
do
do
July 1, 1926
Jan. 1, 1936
July 1, 1938
July 1, 1900
1899 & 1903
Aug. 1, 1916
Nov. 1, 1917
Dec. 23 ’97,*3%
June
June
June
Nov.
Apr.
Apr.
1,
1,
1,
1,
1,
1,
1903
1990
1990
1944
1942
1942
Aug.
Nov.
Sept.
May
1,
1,
1,
1,
1990
1940
1942
1906
June 1, 1943
1 Q 9 .4
July 15,1891
Aug. 1, 1938
July 1, 1938
May 1, 1938
Oct. 1, 1938
Nov. 1, 1906
main line from Hannibal, Mo., to a point 80 miles from Houston, Tex .*
a distance of 941 miles [except 71 miles of trackage] and sundry
branches, the total mileage mortgaged being 1.601 miles, Including the
Sherman Shreveport & So., formerly the East Line <fe Red River R R .
The bonds of the Sher. Shr. & So., except $1,050,000 [turned over to M.
K. & T. for standard gauging the line [are deposited as part security
for the aforesaid mortgages. These mortgages also cover the righ t to
the land grant in the Indian Territory. Firsts are reserved for T. & N.
firsts; on Stock Exchange to Oct., '98, $39,718,000 had been listed.
Payment of interest on the second m ortgage of 1890 is obligatory sino e
the coupon of Aug. 1,1895; previously it received 2 p .c. interest yearly.
The Missouri K ansas A E astern bonds originally guaranteed were
assumed in June, 1896, the road forming the St. Louis extension from
Franklin, Mo., to Texas Junction, Mo.. 162 miles. See V. 63, p. 30.
Guaranties .—Interest is guaranteed on $2,500,000 Kansas City Sc
Paciflo 4 per cent bonds and on the Booneville Bridge 7s, and prin
cipal and interest on Dallas & Waco bonds (issue limited to $1,340,000).
The M. K. A T. in Texas in August, 1892, filed a mortgage 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; trus
tee Central Trust Co. See above, and guaranty Y. 56, p. 604.
The Sherm an Shreveport A Southern mortgage is for $6,100,000 at
not exceeding $20,000 per m ile; authorized, $3,100,000, of which
$2,050,000 pledged under the M. K. & T. mortgage of 1890, and $1,050,000 issued for standard-gauging. In 1899 lease or merger with M. K.
& T. proposed.
The Southwestern Goal A Im provem ent G o's bonds are guaranteed.
Mortgage ($1,000,000) oovers the coal on 51,000 acres in Indian Ter
ritory, and the company also owns 2,350 aores additional, the Deni
son & Washita Ry., 15 miles, mines in active operation, etc.
E quipm ent Notes.—On July 1,1898, these aggregated $538,298, pay
able part yearly till Nov., 1905.
G eneral Finances.—In Deoember, 1895, through service begun
from Kansas City to Galveston, Tex. As to export traffic see V. 63, p.
697. The second mortgage 4s became fixed interest bonds Aug. 2,1895.
E arnings.—5 months, > 1898.......... Gross, $5,717,668; net, $2,256,927
July 1 to Nov. 30.
J 1897.......... Gross, 5,860,115; net, 2,337,645
A n n ual R e po r t .—Fiscal year ends June 30. Annual meeting first
Thursday after first Monday in April. Report for 1897-98 in V. 67,
p. 631. The $20,000,000 2d mort., which previously received 2 p. o.
yearly ($400,000), became fixed interest charge at 4 p. o. Aug. 1,1895.
Year end. June 30.— 1898.
1897.
1896.
1895.
Aver.miles operated.. 2,197
2,197
2,147
2,028
Passenger earnings...$1,919,556 $1,818,188 $2,071,406 $1,970,905
Freight......................... 9,559,000
9,107,207 8,388,544
8,936,779
Mail, express, etc.......
568,680
552,919
577,036
586,679
Gross earnings....$12,047,237 $11,478,314 $11,036,987 $11,544,363
Oper. exp. and taxes. 8,182,388
8,337,399 7,704,100
8,421,184
Net earn.,inc.oth.inoir$3,933,939 ff$3,277,915 $3,332,887 $3,123,179
Interest on bon d s.... 3,061,760 3,061,760 2,983,960
2,612,943
Rentals., &c................
397,422
365,507
332,534
285,497
Total operated.................... 2,197
Balance........... sur. $474,758 def.$149,352 sr.$16,393 sr.$224,739
T $ 69*090 in 1898 and $137,000 in 1897.—(V. 67, p. 222, 631.)
M isso u ri P a c if ic B y .—R oad—Operates an important system of
roads extending westerly and southwesterly from St. Louis, Mo., in
cluding main lines from St. Louis to Omaha, Neb., 495 miles, and from
Kansas City to Denver, Col., 758 miles, with many branches in Kan
sas, etc. Through the St. Louis Iron Mt. & Southern, whioh it ooncrols,
connection is had with Texas and the lines of the Texas & Pacific,
International & Great Northern and the St. Louis Southwestern, the
whole forming what is known as the “ Gould System,’’ in whioh the
heirs of Jay Gould are largely interested (see list of Mr. Gould’ s hold
ings, V. 60, p. 83.) , The Mo. Pac. property includes:
Sherman Shrev. ASouthern—
Paola to Stevens, etc.............. 150
J’ffers’ntoGreenv.,Tex.,&c. 155
Organization , &c.—Reorganized in 1890, without foreclosure, [plan
In V. 49, p. 719,] the old first mortgage being paid off at par.
The entire capital stook of the “ M. K. & T. Railway Co. of Texas ”
is deposited with Central Trust Co. as trustee for the benefit of
the M. K. & T. security holders. (V. 54. p. 1047; V. 65, p. 298.) M. K.
Sc Eastern was absorbed in June, 1896.—V. 63, p. 30.
L and Grant .—Land grant in Indian Territory 3,110,400 acres, sub
ject to extinguishment of Indian title. For status in 1897 and 1898,
eee Y. 67, p. 222; V. 65, p. 542, 594. (V. 55, p. 937; V. 61, p.1155.)
Stock .—Besides stock as above the Boonville RR. Bridge Co. has
$1,000,000 stock; and the M. K. & T. of Texas has $2,012,500 of stock
included by M. K. & T. in its balance sheet in the outstanding capital.
In June, 1896, the common stock was increased from $47,001,000 to
$52,450,000 to absorb subsidiary lines. See V. 63, p. 93.
B onds.—Full abstracts of the firs t mortgage of 1890 (trustee Central
Trust Company) and of the second m ortgage (trustee Mercantile
Trust Company) were in V. 51, p. 495. These mortgages cover the
St. Louis to Omaha................ 495 Boonville St. L. & Southern... 44
Pleasant Hill to Joplin, Mo..
133 Verd. Valley Ind. & West.. 81
12 branches owned................. 450 Leroy & Caney Valley....... 52
Proprietary lines [entire st’ ok
Kansas City & S. W.................... 48
own’d]form’glinetoPueblo,
Trackage to St. Joseph, etc—
27
Col., etc.................................1,833
-------Total Mo. Pacific and branch lines............................................... 3,163
Also operates Central Branch Union Paciflo, 388 m iles; St. Louis Iron
Mountain & Southern and leased lines, 1,773 miles. Grand total Mis
souri Paoiflc mileage January 1,1898, 5,324 miles.
Organization , L eases, &c.—The Paciflo RR. of Missouri was sold in
foreclosure September 6,1876. The present company was a consolida
tion in August, 1880, embracing the Missouri Paciflo and minor roads.
The bonds of the proprietary lines are praetioally all pledged to secure
Mo. Paciflo loans. The Iron Mountain stook is mostly owned by the
Missouri Pacific. Control of the International & Great Northern
was secured in 1892 and of Central Br. U. P. in 1898.
D ividends — ) 1881. ’82.
’ 83 t o ’87. ’ 88 . ’ 89. ’90. ’ 91. None
P e r c e n t ...)
6
6*4
7 yearly.
54t
4
4
3 since.
Road owned.
Miles.
Hannibal, Mo., via Denison &
Whitesboro, to Henrietta..
June. City, Kan., to Parsons.
Texas Jet. to Franklin J e t...
Ft. Worth to Houston, T ex..
Paola, Kan., to Sedalia, M o..
Branches (9) to Mineola, etc.
689
158
162'
327
86
419
Total owned......................... 1,841
R oad leased.
Miles.
Operated—not owned.
■ Miles.
Henrietta to Wichita.............
18
St. Louis to Texas Junction..
Kansas City to Paola..»..........
Whitesboro to Ft. Worth.......
Galveston Hous. & H end .... •
24
43
71
50
Operated join tly.
Operated separately.
L in es owned and controlled. Miles.
Leased lines an d trackage. Miles.
Natl
94
INVESTOKS’
SUPPLEMENT.
[VoL. LXVIII.
J a n u a r y , 1899. J
RAILROAD
sto ck s
and
95
bo n d s.
Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f an y error discovered in these Tables.
Bonds —Princ l
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Due
Amount Rate per When Where Payable, and by pal,When
of
Par
Stocks—Latt
For explanation of column headings, &c., see notes of
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
M issouri Pacific —(Concluded )—
55
Mo. Pacific 1st M., Lexington to Sedalia, Mo, gold
Consolidated mortgage, $30,000,000, gold. .c* 1,076
Gold collateral trust..........................................c*«fer 1,120
1st collateralmort. bonds for $10,000,000 gold.o* 671
Gold funding notes redeemable at par................c
52
Ler. &Caney Val.lst M.($10,000 p.m.),gold.,gu.c*
Verdigris Val. Independence & W. 1st M.,g.,guar.
81
M issouri P acific System —St. L ou is Iron . Mt. dt So.
St.L.&I.M.RR.oidlstM.5s,ext. ’97, g.,red. at 105 210
do old 2d M. 7s, ext. in 1897 in g., red. at 105 310
99
Ark. Br., 1st M., to be paid May 1,1899, at 105
Gen. consol. & land gr.M. ($45,000,000), gold.o* 1,428
Do
do
gold, stamped, guar. p. & i..c* 1,428
Gold funding notes, redeemable at par............c
Car trusts Jan., 1899, due 10 per cent yearly. . . . .
Baring Cross Bridge Co., 1st mort., gold...........
K a n s a s A r k . Val. 1st M. $20,000 per m., g old .. Ì65
Little Rock & Ft. Smith 1st M.Jand gr. sink.fund.. 165
2
Little Rock June. IstM ., guar. p.&i.by Iron Mt..o*
Mobile dt Birm m gh. BR.—Stock ($900,000 is pref.).
149
Prior lien, gold, $1,000,000. (See text)........ C e.c
Mort.,incomes, 4% to July 1,’99, $1,200,000. H e .c 149
Mobile Jackson dt K. 0 .—1st M..g., $4,000,000. C. c*&r
50
Mobile dt Ohio—Stock ($10,000,000 authorized) gold _
1st M. ,Mob. to Col. (prin.gold.int. lawful money) .c* 472
55
1st mort., exten. ,Colum. to Cairo & branch,gold. c*
General mort. for $10,500,000, (now gold) s. f. .e 527
Montgomery Div., 1st mort., $4,000,000, gold..c* 192
Equipment bonds (101,000 are 6s)........................
JKbA<£Jiaione-lstM.,$15,OOOp.m.,g.,gu.p.&i.(en.)o> 181
Income bonds non-cum., 5 ¡per cent (see text)___
a Only $18,274.000 of this listed on N. Y. Stock Excha
1880 $500&o.
1880
1,000
1,000
1887
1890
1,000
1895
1886
1,000
1886
1,000
$6,053,127
$5,550,700
1,419,681
344,507
$6,732,745
$5,440,381
1,423,736
458,874
Balance.
sur.$495,121 def.$l,261,761
def.$590,246
Excluding Iron Mountain and other auxiliaries, the report show s:
Year ending Dec. 31—
1897.
1896.
1895.
3,164
3,164
3,163
'Miles operated December 31.......
Passenger earnings.......................$2,108,955 $2,054,164 $2,235,245
Freight............................................. 9,128,663
7,355,368
7,571,640
Mail, express and miscellaneous. 1,747,547
1,655,859
1,647,001
Total earnings.......................... $12,985,165 $11,065,391 $11,453,886
Net earnings.....................................$3,246,934 $2,012,926 $2,099,393
Dividends, Interest, &c., received.
787,852
494,814
967,328
Total net income........................$4,034,786 $2,507,740 $3,066,721
Interest on bonds.......... : .............. $3,058,437 $3,034,224 $2,955,158
Taxes, rentals, &o.............
882,534
924,132
932,423
Balance for year........................ sur.$93,815 def.$l,450,616def.$820,860
—(V. 66, p. 237, 5 1 7 ; V. 67, p. 1108, 1207; V. 68, p. 85.)
M isso u ri Pacific System—St. L o u is Ir o n M o u n ta in &
Southern R y .—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., Mem
phis, Tenn., Ac., 747 miles; Houston Central Arkansas & Northern Rail
way, McGehee, Ark., to Alexandria, La., 190 miles; total owned Janu
ary 1,1896.1,427 miles. Leases Little Rock & Fort Smith and Little
Rook Junction railroads, 176 miles; Kansas & Arkansas Yalley RR.,
170 miles. Total operated December 31,1897,1,773 miles.
Stock.—Stock $25,788,815, of which $25,707,275 Jan. 1,1898, was
owned by Missouri Pacific—mostly acquired in 1881.
Bonds.—The general consolidated mortgage is for $45,000,000, bonds
being reserved to retire all prior issues. Trustee of general consoli
dated mortgage, Mercantile Trust Co. of New York. As indicated in
the table above, part of the general mortgage 5s (Nos. 11,001 to 18,000
inclusive) are endorsed with the Missouri Pacific’s guaranty of princi
pal and interest; form of guaranty was in V. 56, p. 650. In Jan , 1899.
$2,500,000 gen. consol. 5s were sold, the proceeds to be used towards
the retirement o f the Arkansas Branch 1st 5s, called for redemption
at 105 on May 1,1899. The $4,000,000 1st 4^8 and $6,000,000 2d
5s are also to be called at 105 as soon as possible, so that the gen. 1st
consols may beoome a first lien on the entire system. (Y. 68. p. 85.)
Gold fu n d in g notes for $4,744,000 were authorized on the St. Louis &
Iron Mountain in June, 1895, to provide for the floating debt and “ ad
vances;” $1,495,000 are guaranteed by Missouri Pacific.
A nnual R eport.—Report for 1897 in V. 66, p. 518, showed:
5
6
5
5
5
5
5
gg.
g.
gg.
g.
g-
4,000,000
1867
1,000
4 1a g.
6,000,000
5 g.
1872 £ & $
2,500,000
1870
1,000
5 g.
’81to’7 1,000 a23,405,000
5 g.
_ 1,000 6,945,000
5 g4,723,000
1895
5 g.
683.000
6
1873
200.000
7 g.
1887
1,000
3,412,000
5 g.
1875 50Ó &o.
3,000,000
7
1891
1,000
435.000
6
100
1,800,000
1895 200, 7,000
600.000
5 g.
1895 200, 1,000 1,200,000 2 in 1898
1896
1,000
500,000
5 g.
100
5,320,600 See text.
1879 500 &c.
7,000,000
6
1883
1,000
1,000,000
6 g.
9,547,000
1888 500 &c.
4 g.
1,000
4,000,000
5 g.
1897
801,000
5-6
’ 89-’98 1,000
1892
1,000
2,500,000
4 g.
1892
3,900,000 Up to 5
nge in Jan., Ï8 99.
B onds.—The consolidated mortgage is for $30.000,000—trustees John
F. Dillon and Edward D. Adams—the balance unissued is in trust to
redeem prior bonds due if deemed best. Abstract in V. 47, p. 287.
The collateral, trust bonds due 1917 (Union Trust Company of Nev
York, trustee) are secured by mortgage bonds of new roads at $ 1 ^ 0 0 '
or $15,000 per mile; these embracing the line from Fort Scott, Kan.,
to Pueblo. C o l. etc. For securities pledged, etc., see V. 46, p.678.
As to collateral trust bonds due in 1920, see V. 50, p. 669, 874. On
Deo. 31,1897, $2,636,000 were held pledged for Missouri Pacific fund
ing notes of 1895 and $7,000,000 were outstanding.
G eneral F inances.—In 1895 the issue of $8,256,000 collateral trust
notes (“ gold funding notes” ) and $4,744,000 St. Louis & Iron Mountain
notes were authorized to fund floating debt of these companies and
provide for future needs. Of the St. L. & I. Mt. notes $1,495,000 are
guaranteed by the Missouri Pacific. Mercantile Trust Co., trustee. A
list of the securities deposited to secure these notes was given in Y.
62, p. 548; Y. 60, p. 1059. On Jan. 1,1898, Mo. Pac. loans payable
(secured by collateral) were $464,926, but in Dec., 1898, entire floating
debt had been paid off. (V. 67, p. 1207.)
E arnings.—Jan. 1 to Deo. 31 (12 months), gross of Mo. Pacific and
St. L. I. M. & So. combined, $26,624,114 in 1898; $24,805,451 in 1897.
A nnual R eport .—Fiscal year ends Dec. 31. Annual meeting is held
at St. Louis in March. Report for 1897 was in V. 66, p. 451. Earnings
o f Missouri Pacific system have been as b elow : “ Other income ” in
1897 includes: Dividends American Refrigerator Transit Co., $23,743,
Pacific Express Co., $72,000; iuterest on Iron Mt. general consols..
$60,400; int. on funding notes, $63,367; sleep’g car earnings, $108,332
1897.
1895.
1896.
Miles operated..................
4,938
4,937
4,938
$22,672,004
Total earnings................... $24,805,451
$22,011,960
5,650,864
7,351,340
Net earnings.....................
5,520.636
Ratio exp. to earns............
(70‘364)
(75-076)
(74*920)
$532,492
Other income, &c.............
$826,271
$1,081,881
Total net in com e....... $8,177,611
Interest paid on bonds... $5,437,288
Rentals and taxes............
1,408,899
836,303
Sundry accounts...............
$650,000
14,904,000
14,376,000
7,000,000
6,712,000
520,000
806,000
F.
M.
M.
F.
M.
J.
M.
& A. N. Y., Mercantile Tr. Co.
do
do
S.
do
do
A.
do
do
S.
do
do
J.
do
do
S.
do
do
& N.
&
&
&
&
&
Aug.
Nov.
Jan.
Aug.
Mar.
July
Mch.
1,
1,
1,
1,
1,
1,
1,
1920
1920
1917
1920
1905
1926
1926
F. & A. N.Y. Mercantile Tr. Co.
M. & N. New York or London.
J. & D. N. Y., Mercantile Tr. Co.
A. & O.
do
do
A. & O.
do
do
M. & 8.
do
do
Quar’ly.
do
do
do
do
J. & J.
do
do
J. & J.
do
do
A. & O.
do
do
May 1, 1947
May 1, 1947
May 1, 1899
Apr. 1, 1931
Apr. 1, 1931
Mar. 1, 1905
1899-1905
Apr. 19.1898
Jan. 1, 1937
Jan. 1, 1905
Apr. 1, 1916
J. & J. N. Y. Central Trust.
J. & J. 2 p. c. paid in Mch., ’98
J. & D. N. Y., Central Trust Co.
N. Y. Office, 11 Pine St.
J. & D. N. Y., Farm. L. & Tr. Co.
Q.—Jan.
do
do
M. & S. N. Y., Gallatin Nat. Bk.
F. & A. N. Y., Central Tr. Co.
Various. N. Y., Farm. L. & Tr. Co.
M. & S. N. Y., Knickerb Tr. Co.
Sept. 1. N. Y.' Of., when tam ed.
July 1, 1945
July 1, 1945
June 1, 1946
Feb.28,’98,1%
Dee. i , 1927
July 1, 1927
Sept. 1, 1938
Feb. 1, 1947
Var., ’99-1908
Sept. 1, 1991
Sept. 1, 1992
Year ending Dee. 31—
1897.
$11,820,285
Gross earnings...............
Net earnings.............................. $4,104,405
Other receipts............................
38,415
Total net income...................... $4,142,822
Interest on bonds.....................
2,378,850
Taxes, bridge exp., rent’ls, &o. t l ,362,667
1896.
1895.
$10,946,569 $11,218,117
$3,507,710 $3,551,470
37,677
114,553
$3,545,387 $3,666,023
2,516,476 $2,485,223
840,058
950,187
Balance for year................. sur.$401,304 sur.$188,853 sur.$230,613
t Includes taxes, $270.878; rentals, $381,095; car trust, commissions
ext’ding bonds, etc., $710,694.—(V. 66, p. 237.)
M obile Sc B irm in g h a m R R . —Mobile to Marion Junction, Ala.
149 miles; trackage to Selma, 14 miles; opened in July, 1888.
H istory .—Reorganized after foreclosureinl895perplanV . 60, p. 657
B onds.—The new prior lien bonds may be increased at $18,000 per
mile if the 67 mile extension to the Cahaba coal fields is built. In
1897 and 1898 (in March), 2 p. e. was paid on incomes.
E arnings.—5 months, >1898.............. Gross, $170,821; net, $33,591
July 1 to Nov. 30.
5 1 8 9 7 ........... Gross, 126,346; net, 11,152
A nnual R eport .—Report for 1897-8, in V. 67, p. 1 3 0 6 . shows gross
$360,295; net, $78,593; interest, $54,000; balance, surplus for year,
$24,593. In 1896-7, gross, $358,380; net, $69,350. President, T. G.
Bush. (V. 66, p. 4 2 4 ; Y. 67, p. 1 3 0 6.)
M ob ile Sc G irard R R . —Absorbed by Central of G eorgia R y .
M o b ile J a c k so n Sc K a n sa s C ity R R . —Projected from Mobile
to Jackson, 186 miles. About 20 miles of roadbed were built in 1868.
In 1896 the Gulf City Construction Co. was organized to complete the
road. See V. 62, p. 457. In June, 1898, 50 miles from Mobile north
west to Pascagoula River were in operation, on which $500,000 of
bonds had been issued. Capital stock is $4,000,000. Am ong the direc
tors are W. D. Stratton, of Drake & Stratton Co.; Lathrop R. Bacon,
of New York; President is F.B. Merrill.—(V.62, p.4 5 7 ,990; V .63,p.459.)
M ob ile Sc O hio R R .—( See Map.)—Owns from Mobile, Ala., to Co*
lumbus, Ky., 472 miles, proprietary line, Kentucky & Tennessee RR.
to E. Cairo, 21 miles; branches to Columbus, Miss., &o., 34 miles ; Co
lumbus, Miss., to Montgomery, Ala., 167 miles; with Warrior Branch,
9 miles, and Blocton Branch, 12 miles; total owned, 715 miles; leases
St. Louis & Cairo (which see), Cairo to St. L., 152 miles, with branch to
Millstadt, 9 miles: total operated. 876 miles. In Sept., 1898, the Mobile
& Bay Shore Ry. had been organized to build from the main line of the
M. <fe O. to or near Portersville or Alabama Port, a distance of 27 miles.
In Deo., 1898,7t2 miles to Mertz Station putin operation. (V. 67,p. 4*3.)
H istory , E tc.—Opened in 1861 ; securities readjusted in 1879.
Lands June 30,1897, were 450,776 acres, valued at $246,976.
G eneral F inances.—In March, 1897, the oompany issued and sold
$4,000,000 first mortgage bonds on the “ Montgomery Division o f the
M. & O.” to build and equip an extension from Columbus, Miss., to
Montgomery, Ala., 168 miles, with branches, 23 miles. The portion
between Columbus and Tuscaloosa, 61 miles, has been operated from
about April, 1898, and the entire division and branches was opened
and operated as a part o f the M. & O. RR. system on and after July 1,
1898—see V. 65, p. 736, and V. 66, p. 709, 1045. Bills payable and
loans June 30,1898, $135,000.
D ividends .—First dlv. (1 p. c.) paid Feb. 28,1898.—V. 66, p. 184.
Stock .—Stock authorized, $10,000,000; outstanding, $5,320,600;
par, $100. The voting power on $4,953,300 of the stock is exercised by
the general mortgage bondholders by virtue of the deposit in trust
under the general mortgage of the old debentures of 1879, upon which
this voting power was conferred.
B onds. —Under the general m ortgage o f 1888 (trustee, Farmers’ Loan
& Trust Co.) there can be no foreclosure till four coupons are in default.
In May, 1895, the entire issue was made payable in gold. V. 60, p. 967.
Of the $10,500,000 authorized, the amount canceled by sinking fund
to June 30,1897, was $886,000; $601,500 were in treasury and $7,415
in trust. Mortgage abstract, V. 47, p. 83. Interest on $4,000,000
St. Louis & Cairo 4s is guaranteed. The $4,000,000 Mont. Div. 1st 5s,
constitute a first lien on the Montgomery Division and branches, and
cover also equipment purchased with $500,000 of the bonds set aside
for that purpose. See application to list in V. 66, p. 1045.
Earnings .—Jan. 1 to Dec. 31,1898 (12 mos.), $4,433,211 ; against
$4,012,704 in 1897.
R eport .—Report for year 1897-98 at length in V. 65, p. 684, 694.
Fear end'g June 30— 1898.
1897.
1896.
1895.
Total gross earnings. $4,207,319 $3,867,858 $3,619,071 $3,269,989
1,283,895
1,293,869
1,115,503
Net earnings............. 1,300,745
Interest and rentals. 1,074,880
1,060,126
1,059,632
1,034,354
Balance, surplus*.. 1T$225 ,865 1T$223,769
$234,237
$81,149
* Equipment and new construction (additional to operating expen
ses) cost $186,557 in 1894-95; $143,645 in 1895-6, $204,450 in 1896-7;
$141,874 in 1897-8. Out of accumulated surplus paid $53,000 ( l p . o.)
on 1st debs, in 1896-7 and $53,206 vl p. c.) on stock in 1897-8.—V. 66,
p. 82. 184, 472, 709,1045; V. 67, p. 2 7 1 , 483, 6 8 4 , 6 9 4 .
if oliavvk Sc Malon*' R R . —(See Map N. Y. Central .)—Owns from
Herkimer, N. Y., on the N. Y. Central’s main line northerly to Malone,
on the Central Yermont, with branches, 181 miles in all.
96
INVESTORS’
SUPPLEMENT.
[V ol. LXVIII.
January,
1899.]
KAILKOAD STOCKS AND BONDS.
97
Subscribers w ill confer a great fa v o r by g iv in g Im m ed iate notice o f a n y error discovered in tbese T a bles.
Bonds —Prinoi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due
of
For explanation of column headings, Ac., see notes of
Par
Stocks—Last
Outstanding
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend, %.
Monongahela River R R .—lstM .,g.,gu.B.A O.,end.o*
Consol. M., $1,500,000 g., s. f in 1898, red.at par
Montgom’y Beit L .- l st M., $200,000, lawful m oney. c
M ontgom ery A Erie R y. —1st m. (old 7s ext. in ’86)
2d mortgage (old 7s extended in 1887)................
M organ’s f a . A Texas—N. O. Opel. A Gt.West. 1st M.
1st mortgage (New Orleans to Morgan City).. .c*
1st mortgage, Alexandria Extension, gold............
General mortgage.....................................................
M orris A Essex—Stock, 7 p. c. guar. 1 ).U A W ........
1st mortgage, sinking fund— ...............................
Convertible bonds......................................................
Gen. M. A 1st on Boonton Br. Ac. (guar. D.L. AW.)
Consol. M. (for $25,000,000) guar. D. L. A W.c*<fcr
Special real estate bonds.........................................
Morris A Essex Extension stock, guar. 4 per cent.
Mt. Carbon A Port Carbon RR.—Stock (rent’l guar.)
Mt. H olly Lumb. A M ed fd —1st M. gu. p.A i. Pa.RR.
M uskegon Gr. R apids A In dian a —1st mort., gold ..
Nashua di Lowell—Stock,9 p.c. rental,92 yrs. JB. AM.
Bonds not mortgage, assumed by lessee...............
Nashville Chattanooga A St. Louis —Stock................
1st mortgage (for $6,800,000)......................... c*&r
2d mortgage, gold or silver...............................c*<fcr
1st M. on Fayette, and MoM.brs. ($6,000 p.m.)o*&r
1st mortgage on Lebanon Branch....................... c*
1st M. on Jasper Br. ($90,000 are 8s, due 1906)e*
1st mortgage on Cenfreville Branch, gold— c*<fcr
1st M. on'Tracy City Br. (Tenn. C. A T. RR.) .o*&r
1st M. on Bon Air Br., red. at par aft. July ’9 7 ,... 0*
Duck R. RR., 2d mortgage, now 1st mortgage, g.
Consol. M. ($20,000,000),$20,000 p.m,. gold V s . 6"
W. A Atl. inos. ($572,000), $26,000 due y’rly,g.c.
32
....
....
*80
102
157
204
1889
1895
1890
1866
1867
1859
1878
1880
1893
84 1864
. . . . Var’us
.... 1871
137 1875
Var’us
‘ **2
.... . . . .
*3*7
15
....
1886
....
1880
3*4*0 1*873
321 1881
125 1877
29 1877
43 ’77-’83
46 1883
20 1887
7 1887
48 1881
740 1888
.... 1895
$1,000
1,000
1,000
678
1,000
1,000
1,000
50
500 Ac.
1,000
1,000
1.000
100
50
......
1,000
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
H istory , L ease , E tc.—In 1893, N. Y. Central leased the road and
guaranteed its first mortgage bonds. The surplus in any year after
payment of the first mortgage interest for that year to pay
not exceeding 5 per cent interest on the incomes. A dividend of 2
per cent on the incomes was paid Sept. 1,1898. N. Y. Central owns
the $4,500,000 stock, and has the option of retiring the incomes at any
time, and issuing in lieu thereof 2d mortgage guaranteed gold 4 per
cents, due Sept. 1, 1991. See official statement V. 56, p. 501. As to
bonds, see Y. 56, p. 782. - (Y. 57. p. 22; V. 61, p. 926; V. 63, p. 116,311.)
M o n o n g a lie la R iv e r R R . —Road from Fairmont to Clarksburg,
W. Va., 31 miles. Road opened in 1890. Capital stock is $1,300,0005
par, $100; outstanding, $1,274,400. The firsts (Central Trust Co.»
N. Y., trustee,) are guaranteed principal and interest by the B. & €>•
Consols, “ coal Donds” , (trustee, American Bonding & Trust Co., of
Baltimore) were authorized to pay for the construction of branch
roads not more than 50 miles in length. On Jan. 1,1898, $336,625
consols were in the treasury. See description of first mortgage, etc.,
p. 6 o f Supplement , April, 1896. There are car trust 6 s, principal
outstanding Jan. 1,1898, $135,814; interest $19,974; interest paya
ble at Mercantile Trust Co., Baltimore, Md.
E arnings.—Statement for year ending Dec. 31, 1897, was in Y. 6 6 »
p. 950, showing, gross, $192,531 ; net, $81,018 ; int. and taxes, $39,145; balance, surplus, $4 L,873. In 1896, gross, $210,353; net,
$108,244; int. and taxes, $38,215.—(V .6 4 ,p .9 4 9 , 9 9 8 ; V. 66 , p. 9 5 0 .)
M onterey Sc M e xican G u l f R R . —Owns road completed in Aug
ust, 1891, from Venadito (on the Mexican International Railroad) via
Monterey to Tampico, on the Gulf, about 390 miles. See V. 62, p. 85.
H istory .—Purchased in November, 1895, at foreclosure sale, under
the 1st mortgage of 1888 by the Société Anonyme Belge deChemin-deFer au Mexique, which has capitalization as follow s: Capital stock,
10,572 »io shares, eaoh share representing $1,000 in bonds or
matured coupons of thé Monterey & Mexico Gulf RR. Co. 160 8850
Income shares; first mortgage 4 per cent bonds, 4,000,000 francs,
being 8,000 bonds at 500 francs each. Augustus Frasez, President,
Brussels, Belg.; Coudert Bros., 100 Broadway, N. Y., attorneys.
E arnings.—9 months, ) 1898........ Gross, $1,092,633; net, $367,561
Jan. 1 to Sept. 30.
) 1897..........Gross. 1,041,705; net, 479,354
For year ending Dec. 31, 1897, gross, $1,416,656; net, $640,643.
In 1896, gross, $1,152,748; net, $399,226. (V. 65, p. 729; V. 6 6 , p. 82.)
M o n tg om e ry R elt L in e R y .—Owns real estate and a belt
line in Montgomery, Ala., about one mile of track on Tallapoosa,
Bell, Perry and Columbus streets. Alabama Midland Ry. pays an
annual rental of $15,525. The Plant Investment Co. owns 90 per cent
o f the stock. Capital stock is $200,000 ; par, $100.
M o n tg om ery & Erie R y .—(See M ap E rie R ailroad.) —Owns road
from Montgomery to Goshen, N. Y., 10 miles. Road opened 1867.
Leased in 1872 to N. Y. L. E. & W. (now E rie RR.—which see.) Rental
is $16,000 per annum. Stock, $150,000. Dividends (4*3 per cent per
annum) are paid May 10 and Nov. 10. Sinking fund $6,500 per annum.
M o n trea l Sc V e rm o n t J u n ctio n R y .—Road from Vermont
State line to near St. Johns, Que., 23 miles. Operated by Central Ver
mont. In March, ’97, rental reported reduced from $50,000 to $27,600.
M o rg a n ’ s L o u isia n a Sc T ex a s R R . Sc Steam ship C om p an y.
—(See Map o f Southern P acific.) —R oad—Owns Algiers to Cheney ville,
204 miles; branches, 55 miles ; trackage to Alexandria, 24 miles; total
railroad lines, 283 miles ; steamship lines and ferries, 3,176 miles.
Organization .—The Southern Pacific Company, on June 30,1898,held
$14,995,000 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 12 iron steamships and 9 ferry
and river steamers and tugs plying between New York and New Or
leans and between Gulf ports ; also wharves, warehouses, ana on Jan.
1» 1897, owned $726,500 bonds and $706,743 stock of other companies.
EARNINGS.— 4 months, ? 1898........ Gross, $2,104,638; net, $828,465
July 1 to Oct. 31. S1897........ Gross, 1,483,231; net, 259,100
In year ending June 30, 1898, gross, $5,677,420; net, $1,738,850;
surplus over charges, $688,488; net profits due company under lease
to Southern Pacific, $746,172; income from investm’ts, eto., $179,113.
M o rris Sc E ssex R R .—(See Map o f Delaware L ackaw anna A
W estern.)—Owns from Hoboken, N. J., to Phillipsburg, N. J., 85 miles;
branch, Denville, N. J., via Morris & Essex Tunnel, to Hoboken, N. J.,
35 miles ; leases 16 miles ; total operated, 136 miles.
L ease .—Leased in perpetuity to Delaware Lackawanna A West.,whioh
assumed all liabilities and pays 7 p. 0. per annu m on the capital stock.
See form of guaranty, V. 56, p. 812.
E arnings.—The road is important to the Delaware Lackawanna &
Western as a route with terminal facilities on New York Harbor, but
the actual earnings on the road show a large a n n u al deficit for the
lessee company after the payment of rental. The loss to lessee was
in 1891 over $900,000; in 1892 about $1,500,000; in 1893, $1,525,959 ;
in 1894, $1,960,852. In 1896 gross earnings of road proper (119
miles) were $5,546,181; net, $1,000,104. In 1893 gross, $5,791,267.
M o n n t C arbon Sc P o rt C arbon R R .—Owns Mt. Carbon to Palo
Alto, Pa., 3 miles ; second track, 2*3 m ilef ; total track 19 miles.
Leased March 5,1860, for 50 years to Phila. & Reading RR. and lease
assumed in 1896 by Phila. & Reading Railway. Rental $36,250 yearly.
$700,000
5 g. F. A A.
1,163,375
5 g. J. A D.
200,000
6
J. A J.
130,000
M. A N.
5
40,500
5
A. A O.
249,002
5 * A. A O.
5,000,000
7
A. A O.
1,494,000
6 g. J. A J.
1,000,000
5
J. A J.
15,000,000
J. A J.
7
5,000,000
M. A N.
7
281,000
J. A J.
7
4,991,000
A.
A O.
7
11,677,000
J. A D.
7
2,795,000 4*2 A 5
221,000
4
M. A *N.
282,350
12
J.A J.15
75,000
7
A. A O.
750,000
5 g. J. A J.
800,000
M. A N.
9
100,000
J. A J.
5
10,000,000 4 for ’98 Q .-F .
6,300,000
J. A J.
7
1,000,000
6
J. A J.
750,000
6
J. A J.
300,000
J. A J.
6
461,000 6 g. A 8 J. A J.
376,000
6 g. J. A J.
460,000
6
J. A J.
114,000
6
J. A J.
22,000
6 g. M. & N.
6,213,000
5 g- A. A O.
In treasury.
5 g. J. A J.
N. Y. Central Trust Co.
Balt., Am. Bond’g A Tr.
N. Y., Metropol’n Tr. Co.
Goshen, N. Y.
do
do
N.Y.,8.Pac.Co.,23Broad
do
do
do
do
do
do
N.Y., Del. Lack. A West.
do
do
do
do
do
do
do
do
do
do
do
do
Phila., Broad St. Stat’n.
July, ’ 96, paid Nov, ’98
Nashua, Indian Hd. Bk.
do
do
N. Y. and Nashville.
N. Y .. Continental N. Bk.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Feb. 1, 1919
Dec. 1, 1945
Jan. 1) 1910
May 1, 1926
Oct. 1, 1927'
Apr. 1, 1899
Apr. 1, 1918
July 1, 1920
July 1, 191»
J a n .l.’99, 3^2.
May 1, 1914
Jan. 1, 1900
Oot. 1, 1901
June 1', 1915
Various.
Nov., ’98, 2%,
Jan. 15,’99,6%
Apr. 1, 1899
July 1, 1926.
Nov., ’ 98, 4 :»«
July 1, 1900
Nov. 1 ,’98,1%.
July 1, 1913
Jan. 1, 1901
Jan. 1, 1917
Oct. 1, 1917
Jan.,19Ó6A’2 »
Jan. 1, 19 2 »
Jan.1900 to’ 1 7
July 1, 1917
Nov. 1, 1909
Apr. 1, 1928
Jan. 1, ’ 00- 20
M u sk eg o n G ran d R a p id s Sc In d ia n a B R , - Owns road.
Grand Rapids to Muskegon, Mich., 37 m iles; trackage, G. R. & Ind. at
Grand Rapids, 3 miles. Road opened 1886, and leased to GrandRapids & Indiana RR., which was foreclosed in 1896. Stock, author
ized, $350,000; par, $100; issued, $1,000. Coupon of July, 1896, was
paid in Nov., 1898. Earnings for year ending Deo. 31,1897, gross,
$117,462; net, $26,902; interest on bonds, $37,500. In 1896, gross,
$121,620; net, $31,360. In 1898, calendar year, gross, $123,782»
against $117,460 in 1897. (V. 66, p. 426; V. 67, p. 74, 1309)*
N ashua Sc L o w e ll R R . —Owns double track road from Lowell»
Mass., to Nashua, N. H., 15 miles. On Oct. 1,1880, leased for 99 years
to Boston A Lowell. In 1887 lease was transferred to Boston & Maine,
whioh pays a rental o f $73,000 (9 per cent on stock).
N ash ville C h attan ooga Sc St. L o u is R y .—('Nee Map .)—Owns
from Chattanooga, Tenn., to Hickman, Ky., 320 miles; branches to
Lebanon, Ac., 447 miles; leases Western & Atlantic, Chattanooga,
Term., to Atlanta, Ga., 137 miles; total operated. 904 miles, in
1896 the N. C. & 8t. L. directors leased the Memphis & Paducah Divi
sion (consisting of Paducah Tennessee A Ala., 119 miles, and Tenn.
Midland, 136 miles,) of the Louisv. & Nashv.; but see V. 67, p. 1055.
also see V. 65, p. 679. »¿Middle Tennessee & Ala., Shelbyville, Terni,;
to Decatur, Ala., 79 miles, was purchased in October, 1897, and por
tion from Fayetteville, Tenn , to Jeff, Ala., 30 miles, was completed
July 1 , 189-4, and .balance under construction—V. 67, p. 748.
Organization .—A majority of the stock ($5,500,500) is owned by th e
Louisville A Nashville, and pledged under its unified mortgage, etc., s o
that the two systems are operated in close harmony. The Western &
Atlantic is leased from the State of Georgia for 29 years from Deo. 27»
1890, at $420,012 per annum. Jointly with L. & N. leased in 1897 ter
minal property in Nashville for 99 years ( V. 65, p. 278); contract fo r
new station was let in July, 1898. V. 67, p. 221, 320.
D ividends ) 1888 1889 1890 1891 1892 1893 ’94 »95 to Nov., ’ 9$
since 1887. ] 414
5
5
5
5
3% 3 ^ 4 p. c. yearly.
B onds.—The Tracy City branch 6s fall due $20,000 yearly on Jan. 1.
to 1916 inclusive, and $100,000 on Jan. 1,1917.
The consolidated mortgage of 1888 (United States Trust Co., trustee),
provides that all prior bonds shall be paid off at maturity; sufficient or
the $20,000 per mile are reserved for them.
Western & Atlantic income 5s, see Supplement January, 1898.
General F inances.—BUls payable incurred in purchase o f Rom e
RR.. etc., were on July 1, 1898, $1,501,512. Consol. 5s for $575,000
issued on account o f Mid. Ten. A Ala. Ry., listed in 1898, making total
listed to that time, $6,213,000. (V. 66, p. 617; V. 67, p. 29.)
L atest E arnings .—J uly 1 to Dec. 31 (6 m onths):
6 mos.
Gross.
Net.
in terest, etc.
Bal. stir.
1898............................... $3,198,487 $1,198,189
$786,773 $411,416
1897............................... 2,910,830
1,059,405
770,671
288,734
A nnual R eport .—Report for 1897-98 in V. 67, p. 732,746. See also
p. 715.
Year ends June 30.
1898.
1897.
1896
1895.
Mileage end of y ea r...
905
904
906
902
Gross earnings..............$5,646,549 $5,116,118 $5,074,625 $4,608,502
Net earnings................. 1,982,724
1,911,448 1,910,275 1,882,142
Investments, etc.................. ........
............
41,002
18,424
Net income...............$1,982,724 $1,911,448 $1,951,277 $1,900,566
Int. on debt and tax.
$1,102,187 $1,088,420 $1,078,470 $1,077,425
Rental W. A A. R R .
420,012
420,012
420,012
420,012
Dividends....................... (4)400,000 (4)400,000 (4)400,000 (4)400,000
Balance...............sur. $60,525 sur.$3,015 sr.$52,795 sur. $3,129
—V. 67, p.t29, 222, 715, 7 3 2 , 7 4 6 , 7 8 6 .1 0 0 4 ,1 0 55 .
N ash ville Sc D ecatur R R . —("Nee Map Louisville A Nashville .) —
Owns from Nashville, Tenn., to Decatur, Ala., 119 miles. Leased t o
Louisville A Nashville for 30 years from July 1,1872, at a rental o f 6 p.
o. per annum on stock. The lessee assumed all the debt and owned (July.
1898) $977,750 of its stock. On Oct. 10, 1896, sinking fund held
bonds of face value $659,000, of which $630,000 were N. & D. firsts.
E arnings.—Earnings are now included in L. A N. reports. In 1896*
’97, gross $1,483,272; net, $692,822; interest and taxes, $174,703;
balance for dividends, etc., $518,119. In 1895-96 gross, $1,411,741.
N ash ville Floren ce Sc Sheffield R y .—(See Map Louisville A
Nashville .)—Owns from Columbia, Tenn., to Sheffield, Ala., 82 miles»
with branch Iron City, Tenn., to Pinckney, Tenn., 12 m iles; oper
ates Napier br., etc., 14 m iles; total, 108 miles. Operated by Louisville
A Nashville, which company guarantees the principal and interest of
the bonds by endorsement, and owns $779,400 of the $872,385 stock,
par $100. Stock authorized, $2,000,000. For year 1897-8, gross, $336,284; net, $132,515; interest, $104,800; taxes, $8,415.
N ation al R o ck s R y .—Road extends from West Shore RR. a t
Weehawken to Constables Hook, N. J., 6-6 miles; Oommunipaw br..
0*38 miles; Kill von Kull branch, 0-54 miles; other branches 0*79 m iles,
total, 8‘31 miles; second track, 7 -28 miles. Current accounts, $18,06 7
E arnings.—icorSyear ending June 30, 1 8 9 7 , gross earnings, $232,4=7»
net, $168,147; other income, $2,590; charges, $11,213; dividends
$330,000; bal., deficit, $170,476. In 1895-96 net, $161,967. Office
45 Broadway, New York.—V. 64, p. 518.
ÍM VESTO BS’
SUPPLEMENT.
[V cl. LXViii,
g
(JO
J a n u a r y , 1899. J
RAILROAD
STOCKS
AND
BONDS
99
S n b s e r lb e rs w i l l c o n fe r a g r e a t fa v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
RAILROADS.
Miles Date
For explanation of column headings, &c., see notes of
of
on first page of tables.
Road.
Bonds—Princi
INTEREST
Size, or
pal,When Due.
Amount Rate per
Par
When Where Payable, and by Stocks—Last
Outstanding
Value.
Cent. Payable
Whom.
Dividend.
Nashville A Decatur—Stock, guar. 6 p. o. by L. & N, 119
$25 $2,352,032
6
J. & D.
Nashville.
Deo., ’98. 3%,
1st mort., guar., s. f. ($200,000 held in sink, fd.). 119 1870
1,000
2,100,000
7
J. & J. N. Y., 120 Broadway. July 1, 1900
Nash. Flor. A Sheff.—1st M. ($2,500,000), gold, gu.c 105 1887
1,000
2,096,000
F. & A. N. Y. and Louisville. Aug. 1. 1937
5
gNashville A Knoxville—1st mort. for $2,000,000. .c
87 1888
1,000
1,189,000
6
M. & N. N. Y., Mercantile Tr.Co
1918
National Docks Railway—Stock...............................
3,854,000 See bel’w
See text.
Nets. A Ft.Shep.—1st M., l.gr., s.f., g., $l,500.C00.c
60 1893
1,000
1,408,000
J. & J. N. Y., Chase Nat. Bank July 1. 1943
6
gNesquehoning Val.—Stock subj. to call Sep. 1,1904
18
50
1,418,600
5
M. & 8. Phila., 108 So. 4th St. Sept.,’9 8 , 2 hi%
Nevada—Calif.—Oregon.—1st M. $2,200,000, gold.
J'ne ’98 none
N. Y., Moran Bros.
6 g- J. & J.
20 years.
Nevada Central—1st M. g., non-cum., inc.. (s. f.).Ce
94 1888
i.òo’ó
750,000
5 g- J. & J.
No coupons paid.
July 2, 19 3 »
Newark Somerset A Straitsv.—lstM .,ex t.in ’89, g .c
44 1869 500 &c.
800,000
M.
&
N.
Nov.,
’95, coup, last pd Nov. 1, 19 2 »
5 gNewburg Dutchess A Connecticut—Col. trust bonds
1891
59
226,000
5
M. & N. Jt. Y., Central Trust Co,
1921
Income mortgage for $1,625,000.........................r
1877
1,164,500
6
when earned.
June 1, 1977
New Castle A Shenango Valley—1st M., int. guar...
17 1887
1,000
250,000
J. & J. N. Y., Farm. L. & Tr. Co, July 1, 1917
6
g.
New England RR.—Common stock, $20,000,000...
100
223,300 (unexoh ed Oct. 22, 1898.)
Pref. stock, non-cum., $5,000,000, 3 p. ct., guar.
100
V265.700
3
V
ST.Y.N.H.&H.RR., N. H. Oct.31,’9 8 ,1%.
N.Y.&N.E.lst M. ($6,000,000 are 7s) currency.o* 321 1876
1,000 10,000,000
6 & 7 J. & J. Boston, S. Dep.& Tr.Co, Jan. 1, 1905
1st cons.M., $17,500,000, g., gu.,p.& i., end.Ma.c* 361 1895
1,000
5,000,000
J. & J.
Boston, Office.
5
g*
July 1, 1945
N.Y.& N.E. Boston Term. 1st M. for $1,500,000. c*
1889
1,500,000
4
A. & O.
Apr. 1, 193»
New Jersey Junction—1st. M., guar., $4,000,000.c«fcr
1886
Ì.OOÓ
1,700,000
4
F. & A.
Feb. 1, 19 8 »
New Jersey A New York—See E rie RR. Co.
New London Northern—Stock....................................
121
100
1,500,000
9
Q .-J .
New
London,
Office,
Jan.,
’99, 2*4
ConsolidatedM., now 1 s tM. ($688,000 are4s).o’ 121 1880
1,000
1,500,000
4 & 5 J. & J. t. Y., Bk. of No. Amer. July 1, 1910
N. Mex.Ry. A Coal—Col.tr. ($3,000,000) red.l05.N
1,000
1897
1,500,000
5 g. A. & O.
Oct. 1, 1947
New Orleans A North Eastern—Prior lienm., gold.o* Ï96 1885
1,000
1,320,000
6 g. A. <& O.
Nov. 1, 1915
1st mortgage, gold.................................................... 196 1881
1,000
5,000,000
6
J. & J
Jan.,, 1911
N. O. A NorthwesVn—Coll, trm t M., g.,$500,000.Ce 102 1898
1,000
500,000
5 g. J. & J.
Jan. 1, 1908
New Orleans A West.—Receiver’s otfs., $400,000...
1898
400,000
6 g. J. & J. N. Ÿ., State Trust Co. July 1, 1900
1st Terminal mortgage, $2,000,000, gold.S___o"
1895
1,000
1,650,000
5 g. J. & J.
July 1, 1946
2d mortgage, $2,000,000, g o ld ...............................
1,000
1897
1,000.000
4 g. March.
March 1 ,1 9 0 0
Newport A Oincin. Bridge.—Stock, $1,500,000.......
100
1,500,000
1st M., $1,500,000, g., s. f. guar. p. & i. end by Pa. Co.o* 1895
1,000
1,386,000
4*2 g. J. & J.
July 1, 1945
v Dividends on this unexohanged stock 3 p. c. !per an num, payable every 4 mos. viz: Oct. 131; Feb.
N e ls o n Sc F o r t S h e p p a r d R y . — Owns from International to April, 1896, purchased control.
Stock, $1,440,800 common; $787.
boundary to Kootenai Lake, B. C., 60 miles. Completed in March, 800 preferred; par, $100. Control is with preferred stock and firs**
1894, in the interest of Spokane Falls & Northern Ry., which see. In mortgage till 6 per cent has been paid on preferred for three years.
June, 1898, with the Spok. F. & Nor. and its other allied lines, acquired
'y ear ending June 30, 1 8 9 gross, $283,197; net.
by the Qt. Northern. Y. 66, p. 30. Jan. 1 to Aug. 31,1897 (8 months),
$53,834; interest, etc., $53,428; balance, $406. In 1896-97. gross
gross, $101,295; net, $54,188.
$265,390; net, $46,823.—(V. 64, p. 424; V. 65, p. 8 2 2 )
•
N e s q u e h o n in g V a lle y R R . — Owns from Nesquehoning Junction,
N e w L o n d o n N o r th e r n R R . — Owns from New London, Conn., t o
Pa., to Tamenend, Pa., 17 miles; Tunnel Branch to Lansford, Pa., 1 mile.
Leased for 999 years (with 5 p. o. guaranteed on stock till 1905) to the Brattleboro, Vt., 121 miles, and leases Brattleboro & Whitehall R R ..
Lehigh Coal & Navigation Co., which under its option proposes to retire Brattleboro to South Londonderry, Vt., 37 miles.
the stock at par and interest on Sept. 1 ,1 9 0 4 ; see item “ Delaware Di
L eased for 99 years from Deo. 1 ,1 8 9 1 , to Central Vermont. The
vision Canal” in V. 66, p. 1139.
rental is $211,000 per annum, which leaves a small surplus after pro
viding for inter., etc., and 9 per cent dividends. Taxes and improve
N e v a d a -C a llfo r n la -O r e s r o n R y . — Reno, Nev., to Amedee, Cal., ments met by lessee, without claim on New London Northern.
79 miles, in operation. Projected thence to and through Oregon. In
June. 1898,141 miles had been located Stock, common, $2,200,000, , rSi.v iDBVD8,—1888 to Jan., 1892, 7 p. c. yearly, then 8 p. e. yearly to
all outstanding; preferred none. Bonds, $2,200,000 authorized, but 1893, inclusive, and since to Jan., 1899 (inclu.), 21* p. 0. quar.
none issued in June, J898. Year ending June 30, 1898, gross, $84,- „ E arn in gs .—:E xcluding Brattleboro & Whitehall gross for year 1896738; net, $19,668. E. Gest, Mgr., Reno, Nev.
97, $71.8,955; net $168,421. In 1895-6 gross, $663,786; net, $256,822.
Mr. Little’s report on Central Vermont (V. 64, p. 606, showed earn
N e w a r k S o m erset Sc S t r a lt s v llle R R . — Owns from Newark, O.,
to Shawnee, O., 44 miles; branch 3 miles. Leased to B. & O. till Nov. 1, ings of New London Northern and Brattleboro <fc Whitehall for y e a r
ending
June 30, 1896. as follows: gross, $906,277; net, $334,085.
1929, for taxes and 30 p. c. of gross earnings, but minimum rental to be
$40,000. Interest on first 5s due May 1 ,1 8 9 6 , was not paid. Security Mr. L. sdeductions for improvements, equipme’t, eto., $23,148; rentals,
taxes,
etc.,
$243,504; bal., surplus to lessee, $67,433.—(V. 63, p. 4 0 0 . >
holders were requested to commui icate with the B. & O. advisor v
committee; V. 66, p. 1236. Stock common $795,600, and preferred,
N e w M e x ic o R y . Sc C o a l.— (See M ap) .—Owns El Paso & North
$230,900 (par both, $50); $705,550 of the first and $191,850 of the lat
Ry., under construction from El Paso, New Mexico, north east
ter owned by B. & 0 . See mort., eto., p. 6, S upplem en t of April, 1896. eastern
165 miles, to the Salado Coal fields, in Jan., 1899,107 miles in operaR eorganization .—Under the B & O. plan, given in Y. 67, p. 688, tion. Entire line to be completed by June 1,1899. Stock, $4,000,000.
providing for the acquirement o f the N. S. & S , each bond will receive The bonds are seoured by ideposit o f all the stocks and bonds o f E l
$500 in the new B. & O. Pitts June. & Mid. Div. 1st 3^8 and $600 in Paso & Northern.Ry. o f NewMex.($2,700,000 of each), the stock o f the
B. & O preferred. Deposits are to be made on or before Nov. 1,1898. El Paso & N. E. of Texas, $300,000 (no bonds issued), and all the sto ck
V. 67, p. 7e8 See statement of B. & O.
($2,500,000) and all the bonds ($1,500,000) of the New Mexico Fuel
Earnings for year ending June 30, 1898, were in V. 67, p. 1106, Co., the latter covering 3,500 acres of coal lands. New York office.
showing: Gross, $127,046; net, $5,400; taxes, $5,248; rental, eto., 66 Broadway. (V. 66, p. 337.)
$38,114; loss to lessee, $37,962.—V. 67, p. 788, 954,1106.
N e w O rle a n s Sc N o rth E a s t e r n R R . — New Orleans, La., to
N e w b u r g D u t c h e s s Sc C o n n e c t ic u t R R . — Owns from Dutches,,
Miss., 195 miles; 159 are 60 and 36 are 75 lb. steel rails.
Junction, N7Y., to Millerton, N. Y., 59 miles. A reorganization in 1877 Meridian,
Stock $5,000,000 (par, $100), of which $4,320,000 and $4,900,000 1st
Stock , E tc.—Common, $500,000; pref., $600,000; par $50. There 6s are held by Alabama New Orleans Texas & Pacific Junction Ry. Co.,
were Sept. 30, 1898, $226,000 coll, trust 5s; $1,164,500 income 6s, to which was due July 1,1897, $1,455,296 on coupon and $740,768
$42,500 o f 5 p. c. real estate M. notes and $6,920 bills payable. In on other aocounts.
year ending June 30, 1898, gross, $128,075; net, $32,633; interest,
E arnings.—In 1898, Jan. 1 to Deo. 31 (12 months), gross, $1,447,taxes, etc., $20,222; bal., surplus, $12,411. (V. 65, p. 568.)
855, against $1,323,740 in 1897. Report for 1897-98, V. 67, p. 950.
N e w C a s tle Sc S h e n a n g o V a ll e y R R . — Owns from Newcastle Tr. end. June 30. Cross.
Net. Other inc. Interest.
Balance.
Pa., to West Middlesex, Pa., 17 miles. Leased to Nypano RR. till 1982 1897-98...........$1,396,929 $377,376
$1,865 $379,201 sur.
$41
for rental o f 32 p. o. of gross earns., but interest on bonds guaranteed. 1896-97...........
1,313,253
298,426 1,236
379,200 def. 79,538
N e w E n g l a n d R R . — New York New Haven & Hart. RR. owns a —(V. 65, p. 6 1 7 , V. 67, p, 9 5 0 .)
majority o f the stock, and since July 1,1898, has operatedtheroad,viz.:
N e w O r le a n s Sc N o r t h w e s t e r n R y .— Owns from Natchez, Miss.»
Lines Owned.
Miles.
Leased l ines. HT«See this Co.)
to Bastrop, La., 102 miles. Stock, paid in, $4,500,000; par $100; 2 6
Boston to Hopewell Juno. N.Y.215 *Norwioh & Worcester RR-1f... 66 miles
of road (Rayille to Bastrop) was completed with proceeds o f cer
Wioopee to Ffshkill Landing... 2 Rhode Island and Mass, roads. 14 tificates
in 1894. In March, 1898, receiver Hyde transferred the prop
Providence to Willimantio....... 58
(temporary agreement.)
erty
to
the company under direction of the Court and receiver’ s debts
Newton to Woonsocket, R. I . .. 29 Rockville R R .............................. 4
paid
with
proceeds of coll. tr. 5s July, 1898. These last are secured
East Thompson to Southbridge 18 Providence & Springfield RR.1T 28
deposit of the old first mortgage 5s in trust For year 1897-98
East Hartfort, Ct., to Springrd 28 Woonsocket & Pasooag RR.1T ) q by
(est.),
gross,
$167,500. (V. 57, p. 4 6 7 ; V. 67, p. 178, 275.)
Other lines.................................. 12
oper. under temporary ag’t > ' y
N e w O r le a n s Sc W e s te r n R a i l r o a d . — Owns a belt railroad
Milford bran ch es..................... 20
Double track.............................. 114 T rackage.................................... 25 encircling the city of New Orleans and connecting with all the rail
roads entering IJiat city. Entrance to business centre is had over the
Total, [362 miles owned, 141 leased and 25 trackage].................. 528 tracks of the East Louisiana Railroad. Owns a large terminal property
at Port Chalmette, containing about 2,300 acres, with 80 cotton ware
* Controls Norwich & New York Trans. Co.’s steamers, 125 miles.
H istory .—A reorganization of the New York & New England, (sold houses, capacity o f 250,000 bales, a grain elevator, eto.
in foreclosure July 9, 1895,) per plan V. 58, p. 762.
R eceivership —On Jan. 10,1898, President O. B. Van Nostrand (36
In July, 1898, a merger with the N. Y. N. H. & H. was pending upon Wall St., New York) was appointed receiver. Interest due July 1.
a basis for the minority interest of five shares of common or two of 1896, and since is in default. V. 66, p. 134. In Aug., 1898, the receiver
preferred for one share of New Haven. Preferre 1stock not exchanged obtained authority to issue $400,000 receiver’s certificates to build
is to receive dividends of 3 per cent per annum under 99-year lease. additional cotton warehouses, eto. (V. 67, p. 320.)
In October, 1898, »here had been exchanged or was held by the lessee
Stock $6,000,000; par, $100. In February, 1897, a second mortgage
all except $223.300 of the $20,000,000 common and $265,700 of the for $2,000,000 was authorized, of which $1,000,000 issued for floating
$5,000,000 preferred —V. 66, p. 384, 617,1002; V. 67, p. 126.
debt and improvements.—(V. 66, p. 134.1046; V. 67, p. 320.)
B onds.—The consolidated mortgage of 1895 is for $17,500,000 of 5
N e w p o r t Sc C in c in n a t i B r id g e C o .— Owns bridge over the
p. o. bonds; in February, 1897. $5,000,000 of consols had been issued Ohio River from Newport, Ky., to Cincinnati, O. Bridge opened 1872
and stamped guaranteed principal and interest by the N. Y. New and reconstructed in 1895-96. Louisville & Nash, is under contract to
Haven & Hartford RR. See guaranty V. 64, p. 611. There are $10,000,- use bridge; annual rental, $115,000. Pa. Co. owns $1,345,700 stock.
000 bonds reserved to retire firsts, undisturbed.
E arnings.—For year ending Deo. 31, 1897, gross $134,212; net,
A nnual R eport .—Fiscal year now ends June 30. Report for year $109,910; interest, $63,000; reconstruction, 50,000; balance, deficit,
1897-98 was given in V. 67, p. 897, showing: Gross, $5,570,644; net, $3,089. In 1896, gross, $120,427; net, $100,291; charges against
$1,342,648; other income, including net from Norwich line steamers, income, $230,956; balance, deficit, $130,665. (V. 63, p. 1011,1159.)
$114,517; interest, rentals, etc.. $1,559,020: balance, deficit, $101,N e w Y o r k B r o o k l y n Sc M a n h a t t a n B e a c h R y . — Owns from
855. In 1896-97, gross, $5,237,191; net, $976,100; other income, $89,- Fresh Pond Junction to Manhattan Beacji (Coney Island), and branches
846; interest, rentals, etc., $1,308,041; balance, deficit for year, to Bay Ridge and Greenpoint, 20 miles, of which 16 miles double track.
$242,095.—(Y. 67, p. 29,126, 4 2 5 , 428, 89 7 .)
L ease , E tc .—A consolidation August 2 7 ,1 8 8 5 . Leased for 99 years
N e w J e r s e y J u n c t i o n R R . —Terminal road through Jersey City, from May 1 , 1882, to the Long Island RR. Co. at 35 per cent of gross
Hoboken and Weehawken, about 5 miles. Leased for 100 years from earnings, rental guaranteed to be at least 5 per cent on pref. stock.
June 30,1886, to New York Central which guarantees the bonds abso
B onds .—The mortgage of 1885 is for $2,000,000 and is now a first
lutely and owns $100,000 stock. Connects with National Docks Ry.
lien. (V. 63, p. 1116.) Trustee is Central Trust Company. The L. I.
N e w J ersey Sc N e w Y o r k R R . — Owns from Erie Junction, N. J .. RR. has attached to the bonds its unconditional guaranty o f principal
to Garnerville, N. Y., 29 miles : branches to New City, etc., 5 miles ; oper and interest in addition to the memorandum as to the lease previously
ates to Haverstraw, etc., 14 iles ; total operated, 48 miles. Erie RR- printed upon them. V. 56, p. 812; V. 64, p. 234.
lOO
INVESTORS'
SUPPLEMENT
[V
ol.
LXVI1I
J a n u a r y , 1899.1
RAILROAD
STOCKS
AND
BONDS.
1 0 1
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
Rond«—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
MUes Date Size, or
When Due.
Amount Rate per When Where Payable, and by pal,
Stocks—Last
of
Par
F or explanation of column headings, &o., see notes of
Outstanding
Road. Bonds Value.
Whom.
Cent. Payable
on first page of tables.
Dividend.
Preferred stock, non-cumulative................
1st con. M. (now 1st M.) gold, guar. Dy L. I....0 *
20
20
1st mortgage sterling, guar. D. & H. Can... .......e* 150
Debentures, g., guar. p. <fci. end. Del. & H. Canal. . . . .
Ofew York Central & H u d son R iv er—Stock........
819
N. Y. C. & H.. i $30.000.000 ) ____ ____
lstm ort .. . Ì £2,000,000 ( ^ ™ p
< 819
Debt oertifs., (N.Y.Central), gold, $6,450,000.c<fcr
Debentures, 1884, $10,000,0001 All eq’ly .. c&r 1
Debentures, 1889, $1,000,000. ( secured ....... r
Debent’s, g., s. f., $i3,194,000. f by mort. . e*<fcr [819
Refund.M., $100,000,000, gold 1of 1897. Ce&r i
Collât, trust, g. ($100,000,000) L. 8h. stk.G.c*&r
do
do
($21,550,000) Mich. Cent. stk..G
IF. Y. Chicago A St. Louis—Common stock.......
523
523
1st preferred (o per cent non-cumulative).
523
1st mortgage gold, sinking fund not drawn..o*&r 505
Equip. tr .,‘ ‘A ” gold, $60,000, Sept. 1, yearly..C.
Equip. tr.’‘ B” goid $23,000 due yrly Feb.l5,C.c&r . . . .
N . Y. A Greenw.L.—Prior lien M., gu. p. &i.. .N.gxc*
53
N. Y. A Harlem—Com mon, l l ^ to 12 p. c., guar ... 145
Preferred stock, l l 1^ to 12 per cent, guar.
145
Consolidated mortgage, coupon or registered..o* 136
Refunding mortgage, $12,000,000, gold ... Go*&r . . . .
N. Y. Lackawanna A Western—Stock, guar. 5 p. ct. 214
1st mortgage, guar, by Delaware Lack. & West.c* 200
2d mortgage, guar, by Delaware Lack. & West.c* 200
3d M. Terminal Imp. (for $5,000,000), gu. p. & i.. 200
New York Lake Erie A Western—See E rie RR.
a As reported June 30, 1898; the amount out standi
1885
1874
1896
1873
1873
1853
1884
1889
1890
1897
1898
1898
1887
1892
1896
1896
1872
1897
1880
1883
1890
100
100
1,000
100
£100 &o
1,000
100
1,000
1,000
500 &o.
l.OOO&c
l.OOO&c
l.OOO&c
l.OOO&c
l.OOO&c
l.OOO&c
100
100
100
1,000
1,000
1,000
lOO&o
50
50
l,000&c
l.OOO&c
100
1,000
1,000
1,000
ng wh en refu nding began is given in first left hand column.
N e w Y o r k & C a n a d a B B . - Owns from Whitehall, N. Y., to
•Rouse’s Point, N. Y., 113 m iles; branches, 38 miles; total, 151 miles.
L ease;. E tc.—Leased in perpetuity and virtually owned by the Dela
ware A H. Canal Co., which guarantees the bonds, and has $3,760,741
invested in the property, $1,000,000 having been funded in 1896 into
■the guaranteed gold debentures. See copy of guaranty, Y. 64, p. 181.
Gross.
Net.
Charges.
Balance.
Year to 51897-8.......... $937,829 $250,725 $279,764 def. $29,039
June 30. (1896-7.......... 937,892
253,839 280,703 def. 26,864
— (V. 64, p. 181, 234; Y. 67, p. 1054.)
N e w Y o r k C e n tr a l 6c H u d s o n R i v e r R R . —(See dfop.j-Includes:
Lines owned.
Miles. Mohawk & Malone.............IT 182
N ew York to B u ffalo............ 442 Carthage & A dirondack....Ü 46
Branohes................................... 378 Gouverneur & OswegatohieTT 13
New York & Putnam .......... if 61
Lines leased. ITSee this co.
IT 495 Tivoli Hollow R R .................
1
West Shore..............
Troy & Greenbush . ............Tf
6
■Spuyten Duyvil & Pt. M ...tf
6
Total in earns. 1897-98___2,395
New York & Harlem............. Ü 136
Controlled—Operated separately.
5 Lake Shore & Mich So...........1,413
New Jersey Junction........... if
Borne Watertown A Og........ i[ 624 Michigan Central...................1,642
The N. Y. Central Division has 287 miles laid with four tracks.
H istory , &c.—Control of the Lake Shore and Michigadi Central roads
w as acquired in 1898, as stated below. In Jau., 1S99, their earnings
were reported separately, but the dividends on their shares held by
the Central caused the large increase in the item “ other inoome.”
Capital Stock .—In May, 1895, $4,571,700 stock was listed on the Ex
change, making total listed $100,000,000; V. 60, p. 874. Dividends
•on stock registered in London are payable in gold at 49 *sd. to dollar.
D ividends since $ ’ 86-9. ’ 90. ’91. ’92. ’ 93. ’ 94. ’95. ’ 96. ’ 97. ’98. ’ 99.
1885. Per cent. ( 4 yrly. 4 1a 4*2 5 ^ 5
5 4 1* 4
4
4 Jan. , 1 .
B onds.—Description of debentures was on page 3 of Supplement
o f April, 1895. They are all secured by the refunding mortgage of
1897 equally with the S^s. Ref. mortgage is for $100,000,000, of
which $70,377,333 reserved to retire existing bonds at or before ma
turity and $14,622,667 for premiums; the remainder ($15,000,000)
are reserved for new construction after 1903. The mortgage covers
*11 the road, franchises, leases, equipment, etc., and will retire all the
com pany’s former indebtedness, both mortgage bonds and debentures.
I n June, 1897. $23,801,000 3^8 of 1897 had been issued to retire $20,424,699 o f old bonds. V. 66, p. 1140.
Collateral trust 3Lj8 of 1898 are secured respectively by deposit in
trust with the Guaranty Trust Co., mortgage trustee, of stock of the
Lake Shore & Michigan Southern and Michigan Central RRs. at the
rate of $100 of L. S. & M. S. stock for each $200 of bonds and $100
•of Mioh. Cent, stock for each $115 of bonds outstanding. The total
authorized issues of 3L>s are $100,000,000 for Lake Shore and $21.550,000 for Michigan Central. The bonds issued in exchange for L. S.
A M. S. stock bear interest from Feb. 1,1898. The loans are secured
b y separate deeds of trust. See V. 66, p. 288, 336, 760, 811.
G uaranties .—The company guarantees the securities of its leased
lines to a considerable aggregate—see separate statement for each com
pany marked with a ITin the table of mileage preceding. It also guar
antees Western Transit Co. 4^8 for $1,000.000 due February, 1903.
General F inances.—The refunding o f the $70,377,000 of old high
interest-bearing bonds into the 3^)8 of 1897 during the years 1898 to
1905 w ill effect a saving o f $1,200,000 per annum in interest charges;
to June 30,1898, $21,480,986 old bonds had thus been retired at an
annual saving in interest charge of $197,711.—V. 67, p. 54. The refund
in g of the Harlem consol, mort. is held in abeyance pending legal deci
sion regarding disposition o f saving—see V. 65,p.46, and V .67, p. 737.
In Jan., 1899, the company had acquired $45,171,500 of the capital
stock of the Lake Shore road in exchange for 3 ^ p.o. bonds (see above),
leaving $4,828,500 afloat, including $533,500 guaranteed 10 per cent
dividends (see V. 66, p. 288, 336,1238), ana also $15,955,000 of Mich.
Central stock, leaving $2,783,000 still outstanding. V. 66, p. 760,1238.
E arnings .—For 6 months ending Deo. 31 (Deo., 1898, partly est.):
6 months.
Gross.
Net.
Oth. inc. Charges. Bal.fordiv.
1 898..........$23,544,397 $8,828,214 $2,190,968 $7,905,575 $3,113,607
1 897............ 24,013,098 9,030,444
289,176 6,383,681 2,935,939
A nnual R eport .—Fiscal year ends June 30. Report for 1897-98 was
given at length in V. 67, p. 527, 591. See also editorial p. 559. Aver
age train load 1897-98 was 299 tons; rate per ton per mile 61-100 cent.
Years end. June 30.
1898.
1897.
1896.
Freight earnings.................. $27,496,129
$25,850,731
$25,984,710
Passenger earnings............. 13,250,800
13,094,619
13,705,021
Miscellaneous earnings___
7,278,780
5,334,789
5,455,236
Total gross earnings...$48,025,709
Net incom e....................... $16,631,457
$44,280,139
$14,631,993
$350,000
A. & O.
Checks mailed.
Oet.’98,2ia%
5
650,000
1,726,000
5 g. A. & O. N.Y., U.S.Mort.&Tr.Co. Oct. 1, 1935
4.000.
000
4.000.
000 6 g. M. A N. London, Baring Bros. May 1, 1904
1,000,000
4*2 g. M. & N. N.Y., D. & H. Canal Co. May 1. 1904
100,000,000 4 in 1898 Q.—J. N. Y., Gr. Cent’l Stat’n. Jan. 16,’ 99,1%
J. & J. N. Y., Gr. Cent. Station. Jan. 1, 1903
a22,487,000
7
a7,652,347
6 g. J. & J. London, Union Bank. Jan. 1, 1903
a4,397,000
4 g. M. & N. N. Y., Gr. Cent. Station. May 1, 1905
M. & 8.
do
do
Sept. 1, 1904
a5,775,000
5
M. A 8.
• do
do
5
Sept. 1, 1904
a815,000
J.
&
D.
do
do
June
1, 1905
a8,205,000
4 g.
do
do
July 1, 1997
27,601,600
3ia g. J. «*5 J.
F.
&
A.
do
do
Feb.
1,
1998
90.343.000
3i«g.
do
do
18.349.000
Feb. 1, 1998
3*2g. F. & A.
14.000.
000
11.000.
000
5,000,000 2 in 1898 March. N. Y., Gr. Cent. Station. Mch. 1,’98, 2%
19,425,000
4 g- A. & O. N. Y., Union Trust Co. Oct. 1, 1937
M. & S. N. Y., Central Trust Co. Yearly to 1902
240,000
5
F.&A 15
do
do
Yearly to 1911
304,000
5
New York.
1,500,000
May 1, 1946
5 g. M. & N.
8,646,050 12 in ’98 See text N. Y., Gr. Cent. Station. Jan. 3, ’ 99,4%
do
do
1,353,950 12 in ’98 See text
Jan. 3, ’99,4%
M. & N.
do
do
May 1, 1900
12,000,000
7
From May 1,1900.
May 1, 2000
3*2 g. M. & N.
10,000,000
N.
Y.,
by
Del.
Lack.*
W.
Jan.
’99, 114%
5
Q .-J .
Jan. 1, 1921
J. A J.
do
do
12,000,000
6
F.
&
A.
do
do
Aug.
1, 1923
5,000,000
5
M. & N.
do
do
5,000,000
4
May 1, 1923
Payments—
1898.
$5,972,422
Rentals paid.....................
Interest on debt...............
5,480,104
Taxes on earn, and stock..
224,459
Reserved for deb’tures...
300,000
Dividends................ ........ (4) 4,000,000
1897.
$5,924,736
4,126,490
228,900
300,000
(4) 4,000,000
1896.
$5,967,609
4,153,776
224,219
300,000
(4) 4,000,000
Balance from operat’n
$654,472
$51,867
sur.$43,793
* Includes $800,000 new equipment.
President, S. R. Callaway, Cleveland, Ohio. —(V. 67, p. 29, 223, 321.
5 2 7 , 5 7 7 , 5 9 1 , 737.1110,1309.
N e w Y o r k C h ic a g o 6c S t. L o u is R R . — (See Map o f New York Cen
tral A Hudson River.)—Owns from Buffalo, N. Y., to Illinois State Line,
except 8 miles leased between Dunkirk and Silver Creek, leaving 494
miles ; leases the proprietary line, Chicago & State Line RR;, 111., State
Line to Grand Crossing, 10 miles ; also leases Dunkirk to Silver Creek,
8 miles ; total, 512 mues ; trackage in Buffalo, N. Y., l^ j miles, ana
Grand Crossing Chicago, IU. (Lake Shore RR.)'. 9 mUes.
H istory .—The “ Nickel Plate” road, foreclosed and reorganized in
1887.
Stock .—Lake Shore & Michigan Southern owns $6,240,000 common
$6,275,000 2d preferred and $2,503,000 1st preferred stock.
D ividends .—O n ) ’91. ’92. ’93. ’94. ’95. ’ 96. ’97.
’98.
1st pref. in M arch) 3*2% 3
3
4 none. 5% none.
2%
B onds.—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, the sinking fund lapses for that year, thus leaving $100,000
more for dividends. The original issue o f bonds was $20,000,000, and
It has been reduced to present amount by the sinking fund purehases.
Statement of road under mortgage in Supplement of Sept., 1894. See
abstract of mortgage.—V. 45, p. 541.
L atest E arnings .—Jan. 1 to Sept. 30 (9 months):
9 mos.—
Gross.
Net.
Oth. ine. Int., taxes, etc. Bal., def.
18 9 8........... $4,563,946
$828,920
$4,030
$902,914
$69,964
1897............ 4,102,806
826,794
4,526
914,659
83,339
A nnual R eport .—Report for 1897 V. 66, p. 897. PrineipaUy a freight
line, freight in 1897 contributing $4,843,568 out of $5,315,217.
Year end. Dec. 31— 1897.
1896.
1895.
1894.
Gross earnings.......... $5,815,217 $5,587,766 $6,317,950 $5,629,239
977,605
1,223,231
Net earnings............... 1,084,592
957,261
987,248
1,236,814
Net, inol’g other ino’e. 1,091,891
964,251
777,000
777.000
Interest on bonds. . . .
777,000
777,000
112,972
83,000
Equip, trust charges.
116,542
86,000
95,507
94,190
Rentals.......................
90,694
91,924
250.000
Div. on 1st pref*.......(2) 100,000
Balance, surplus.
$7,655
$3,086
$31,306
$9,327
* N ote .—Dividends from earnings of year given are paid in March
of following year. Pres., William H. Canniff.—(V. §7, p. 372,1004.)
N e w Y o r k 6c G r e e n w o o d L a k e T ty .— (See Map o f Brie RR.)—
Owns from Jersey City, N. J., to Greenwood Lake, 41 miles, and
branohes to Ringwood, etc., 8 miles; Watchung Ry., Forest Hill to
Orange, N. J., 4 m.; total owned, 53 m. Stock, $100,000; par, $50.
L ease . —On May 1,1896,was leased to the Erie RR. for 999 years from
May 1,1896, for interest on prior lien bonds. In September, 1897,
$48,000 of the $1,500,000 prior liens were held to retire old incomes
yet unexchanged. Prior lien bonds are guaranteed, principal and in
terest, by Erie. See V. 63, p. 513; form of guaranty V. 65, p. 463.
N e w Y o r k & H a r le m R R . — Owns New York City to Chatham,
N. Y., 136 miles (four-tracked 7 miles norch of Harlem River). Use
Boston A Albany RR. to Albany, 24 m. Also owns Fourth Ave. St. RR.
L ease .—The property (except the horse railroad) was leased April 1»
1873, for 401 years, to the N.Y. Cent. & Hudson River RR. at 8 per cent
dividends on the stock and the interest on the bonds. N. Y. Central
stockholders on Oct. 5,1898, voted that the saving in interest charges
of $420,000 per annum from refunding $12,000,000 7s at 3*2 p tr cent
should go $200,000 to the Harlem and $220,000 to the Central, but the
matter was allowed to go to the courts for settlement. V. 67, p. 737,
690, 483. The horse road was leased in July, 1896, to Metropolitan
Traction Co. for 9 99years at $350,000yearly (3*2 p. e. on stock) for 5
years and $400,000 (4 p. c.) thereafter. V. 62, p. 1088. Stoek is also
entitled to benefit from certain real estate. SeeV. 67, p 223.
A N N U A L D I V ID E N D S 1897 T O J A N U A R Y , 1899.
Guaranteed by N. Y. Central................................. 8% (Jan. 4%, July 4%)
Guaranteed by Met. Street Ry. rental.
.31a% (April 1%%. Oct. 1%% )
Extra as int. on investments (V. 6 7 ,p. 178)...*s% (April H%, Oct. *4% )
Open accounts, including investments, July 1,1897, were $1,200,006. and income from interestthereon in year 1896-97, $55,565.
- ( V . 65, p. 27, 46; V. 67, p. 178, 223, 321, 483, 690, 737.)
N e w Y o r k L a c k a w a n n a 6c W e s t e r n R y . —Binghamton to Buf falo and Intemat’l Bridge and branohes, 214 miles, of which the main
line, 213 miles, is double track; Delaware L. & W. has a lease for dura
tion of charter from October, 1882, giving a guaranty of the bonds and
$45,144,967 5 per cent yearly on the stock, bonds and stock being endorsed. See form
$14,689,397 Lof guaranty o f terminal bonds in V. 67, p. 1357.—V. 67, p. 1309,1357.
VANDERBILT LINES between NEW YORK
102
INVESTORS’
SUPPLEMENT.
BALTIM^I
W ASHOTC^^ ann^
lVol. l x v i h .
.Trout L.
J anuary,
1899.J
RAILROAD
STOCKS
AND
103
BONDS.
Subscribers w ill con fer a great fa v o r by g iv in g Im m ed iate notice o f a n y error discovered In tbese T a b les.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
RAILROADS.
Amount
Miles Date Size, or
pal,When Due,
Outstanding Rate per When Where Payable, and by Stocks—Last
of
of
Par
Whom.
Cent. Payable
Road. Bonds Value.
Dividend.
on first page of tables.
g ,mo York, New Haven A Hartford—Stock. See text,
1st mortgage (for $5,000.000).............................. r
Debentures, exchangeable for stock 1903........ c’
Deben., $10,000,000, currenoy, non-convert.c&i
N. Y. Prov. & Boston, 1st mort., assumed........ o’
Housatonio old consolidated mort. (assumed)..
Danbury Branch bonds, eub. to call (assumed)
New consol, mort. ($3,000,000) g. (assumed) .c’
B onds of P roprietary , etc., L ines :
Bos. & N.Y. Air L. 1st M., N. H. to Williman., Ct.o’
Colchester RR. 1st M ...............................................
Danbury & Norwalk con. M. ($100,000 are 6s) .c’
Oenl. M.,Danbury,Conn.,to Wilson Point, &c.c’
Ì23
,
12
62
49
74
m
80
51
3*2
36
36
12
12
2d mortgage, guar. (See Y. 56, p. 813)........ o&r
.
Housatonic rolling stock certificates..................
55
Naugatuck 1st M., Nauga. Juno, to Wlnsted, Ct.i
13
H ew Haven & Derby 2d mort. (now 1st)............c*
13
Consol, mort for $800,000................................o*
....
Funded coupon certificates............................. .
H . H. & No., consol, s. f. $15,000 p. yr., not dm .c* 114
27
Northern Extension bonds.............................. o*
Deb’tures ext. in ’96, non-conv.,V. 62,p. 548.C*
17
Holyoke & W., leased, mtge. $200,000, guar..c*
New England and Old Colony—See those cos.
PawtuxetV. 2dM. (1st M. owned byN.Y.N.H.&H
513
51
Providence & Worcester 1st mortgage, currency
Nantasket Beach, 1st mortgage.......................... .
9 . F. Ont.A W.—Gon.M.,nowlst,g.,red.at 105 in ’99. c Text.
Text, j
Refund. M. $20,000,000, g.o*Ar................
a Only $52,308,600 listed to Jan. 20,1899.
$100 a54,733,200 8 in 1893 Q.—M. New Haven, Co.’s Office.
4
J. & D. N. Y., Chem’al Nat. Bk.
2,000,000
1883 1.000&
4
A. & O. N. Y., Lincoln Nat. Bk.
1893 lOO&c. 16,397,200
M. & S.
New York.
3.000.
000 4
1897
4
A. & O.
do
do
300.000
1,000
1881
do
do
1.000.
000 4 g. A. & O.
1892
1,000
4 1« M. <fc 8. N. H., Nat. N. H. Bank.
200.000
1880 l,0Ö0&c
4
A. & O.
New Haven, Conn.
100,000
1880 500 &c.
A. & O.
do
do
5
61,000
1882
N.
Y., Farm. L. & Tr. Co.
M.
&
N.
2.839.000
1-000
5 g1887
Dec.31,’9 8 ,2%
June 1, 1903
See text.
Mar. 1, 1947
Apr. 1, 1901
Apr. 1, 1942
Mch. 1, 1910
Apr. 1, 1910
Oct. 1, 1912
Nov. 1, 1937
F. & A. N.Y., Lincoln Nat. Bank
J. & J.
J. & J.
New Haven ,Conn.
A. & O.
do
do
A. & O. N. Y., Chem’al Nat. Bk.
do
do
J. & D.
J. & J. New Haven, Conn.
J. & D. New Haven, Ct., Treas.
F. & A.
Nèw Haven, Conn.
M. & N.
do
do
F. & A.
do
do
A. & 0.
do
do
A. & O.
do
do
J. & J.
do
do
A. & 0.
do
do
Aug. 1, 1905
July 1, 1907
July 1, 1920
Apr. 1, 1925
Oct. 1, 1903
June 1, 1911
July 1, 1899
June 1, 1918
Feb. 1. 1900
May 1, 1918
Feb. 1, 1900
Apr. 1, 1909
Apr. 1, 1911
July 1, 1904
Apr. 1, 1911
A.
A.
A.
J.
M.
Apr.
Oct.
Oct.
June
June
500.000
25.000
500.000
150.000
2,000,000
1,000,000
1880
1,000
1877
1,000
1880
100
1883
1,000
1873
1.000
1881
1,000
1889
1883 l.OOO&c
1870 500 &o.
1,000
1888
1,000
1888
1,000
1879
1,000
1881
1,000
1886
1.000
1891
150.000
225.000
575.000
480.000
1,200 000
700.000
700.000
200.000
1880
1,000
1897
1880
1889 $ or £
1892 1,000&C
60.000
1.500.000
250,000
5.600.000
8.375.000
200.000
5
7
5&6
5
6 &7
4
5
4
7
5
6
6
5
5
4
6
4
2Lj
5 g4 g-
&
&
&
&
&
0.
O. Prov.,R. I. Hosp. & T.Co
O.
D. N. Y. Office & London.
S. N. Y. Office, 56 Beaver.
1,
1,
1,
1,
1,
1900
1947
1900
1899
1992
1898.
1897.
1896.
1895
N ew Y o r k L a k e E rie Sc W e ste rn R R . - S ee E rie RR. Co.
$1,024,138
$883,999
$826,091
$694,548
N ew Y o r k N ew H a v en Sc H a r tfo rd H R .—-Covers Southern Int. on fund. dbt.
Other
interest...
23,995
333,988
660,766
111,983
New England and embraces the only direct routes between New York
Rentals............... 3,370,477
3,450,172
3,418,105
3,322,407
and Boston. It includes :
1,647,744
1,492,237
1,464,605
Leased (part Owned.)
Miles. Taxes.................. 1,688,871
3,803,516
3,608,542
3,794,290
Lines Owned in Fee—
Miles. New Eng. RR. (which see)........528 Dividends......... . 3,809,816
Old Coi<>ny RR. (which see)..616
Junction near N. Y. City to
sur.$74,729 sur.$58,348 def.$315,302
Springfield, Mass....................122 Litchfield, Conn., to Bethel. . . . 38 Balance..............sur.$!09,823
President. Charles P. Clark, NewHaven.—V. 67, p .9 4 9 ; Y.68,p.40,41.
L ines L eased—
Lines to Providence, Pittsfield,
etc.............................................. 294 Providence & Worcester........ 48
N ew Y o r k O ntario Sc W estern R y .—(Nee Map.)—Operates
20 from Weehawken, opposite N. Y. City, to Oswego, on Lake Ontario:
Other lin e s ...........................
Leased and Controlled—
Lines to Turner’s Falls, e tc ....299 Trackage to N. Y. City, etc___ 22
Road
Owned—
Miles.
Road Controlled, Ac.
Miles.
Other lines.................................... 43,
Oswego to Cornwall, N.Y..........272 Pecksport Conn, (all owned).. 4
Total oper. July, 1898 (83 njiles has four and 654 two tracks). .2,030 Branch
to New Berlin.............. 22 Ontario Carb, & 8. (all owned.)
H istory .—A consolidation in 1872 of the New York & New Haven
do to Delhi........................ 17
Cadosia, N.Y., to Scranton, Pa. 54
and the New Haven & Hartford. In years 1892 and 1893 acquired
do to E llen ville........ : . . .
8 Rome & Clinton (leased).........Tfl3
control of several companies whose bonds are given in table above.
Utica Clinton & Bing, (leased). 113x
The Housatonic, Shore Line and N. Y. Prov. & Boston have been ab
Total ow ned............................319 Wharton Valley (leased)................. 7
sorbed by consolidation. See also Old Colony.
Trackage (till 2079) W. Shore RR.:
IT See this Go.
----In October, 1895, a controlling interest in the New England RR. was C’nwalltoW’h’ken(V.61,p.425) 53
Total operated July 1,1898..481
acquired, and in 1898 practical amalgamation was effected. See below.
Organization .—The New York & Oswego Midland was sold in fo re
In 1895 acquired the entire stock of the Fall River SS. line and later closure
Nov. 14,1879, and this company organized.
the entire stock of the Providence & StoniDgton Line.
Stock .—Stock is $58,118,982, (par, $100), of which $5,000 is old pref.
Electric Railways.—Iu 1895 control was acquired of the Stamford
St. Ry. and the Meriden Electric Ry. Electric railway between Hart
V oting T rust .—The preferred was originally $2,000,000, but all e x
ford and New Britain, 10 m., was opened in May, 1897. Y. 67, p. 732. cept $5,000 has been exchanged for bonds under act of June 8,1885.
Capital Stock .—Stock authorized, $100,000,000. It may be issued The exchanged preferred stock is held alive under a voting trust and
for improvements, buying stocks and bonds of leased roads, &o.; elects eight of the thirteen directors under a provision of the “ Articles
$16,397,200 will be needed to take up the convertible debentures in of Association,” until a dividend shall have been earned and paid upon
1903. (V. 56, p. 289, 373, 579.) In June, 1898, application was made the common stock. The voting trustees elect directors in the Interest
to list on N. Y. St >ck Exchange $7,100,000 new stock, to be issued in of the common stock. See V. 61, p. 425, 426, and editorial, V. 65, p. 495.
Upon completion of refunding—see below -the stock may be divided
■exchange for the shares o f the New England and Shep. Litch. & Nor.
RRs..which increased the total issue to $54,733,200. Of the new stock into two classes of common and preferred. V. 67, p. 1264.
$3,351,000 was listed July 1898. Y. 66, p. 1090,1138.
B onds , E tc .—The mortgages cover 319 miles of road owned, and all
D ividends .— ) 1873-1893.
1894.
1895 to D eo.,’ 98, (lnel.) securities of Ont. Carb. & Scran. Ry., 54 miles. Refunding mortgage
secures $20,000,000 of 4 p . cts., of which $5,500,000 to retire $4,000,Per cent. \ 10 yearly.
9
8 (2 per cent quar.)
sixes (paid Sept. 1, ’92), $7,000,000 to retire $5,600,000 consol. 5s
Bonds.—The convertible debentures of 1893 for $16,397,500 are ex 000
(a sufficient amount to redeem which were sold in Sept., 1898), balance
changeable at option of holder “ on April 1,1903, or within 60 days for
improvements,
&o. V. 67, p. 579. The mort. covers all the com
thereafter, and no longer,” for company’s stock at par. If not then
property, real and personal, acquired and to be acquired;
exchanged they will be paid in cash April 1,1908. See V. 55, p. 1035, pany’s
mortgage
trustee
is
The Mercantile Trust Co. The 5 per cent bonds
and description page 4 Sup . of April, 1895. Non-convertible currency
been called for redemption on June 1,-1899. at 105 and accrued
■debentures for $10,000,000 were authorized in ApriL 1897. Under the have
interest,
on
six
months’
notice, effecting an annual saving o f $50,000.
lease New Haven road “ assumed” the debt of Old Colony. In 1897,
67, p. 579, 1110.
$5,000,000 New England 5s were guaranteed and sold. V. 64, p. 611. V.Holders
of consol. 5s were off -red the right to refund into the new 4s
L eased L ine Stocks .—The stocks of the leased lines unexohanged upon terms in V. 67, p. 1110,1264
o n June 30,1898, or later, and the dividends payable thereon are shown
C a r T r u s t s .—CaT trust notes, Sept. 30, 1 8 9 8 , payable quarterly,
below, the shares being all $100 each excepting Danbury & Norwalk, ¥ 12,5
0 0 , against $ 7 6 ,1 7 0 on 8ept. 3 0 ,1 8 9 7 ; loans and bills payable
which are $50 each. The leases are for 99 years.
Sept. 3 0 , 1 8 9 8 , $ 1 5 0 ,0 0 0 ; loans and bills receivable, $ 8 4 5 ,5 3 3 .
Stocks—
Total issue.
TTnexch. Divid'd. Period.
G e n eral F inances .—In Jan., 1899, the coal properties at Scranton,
Berkshire...................................... $600,000
$599,000
6p. c.Q.—J.
of the Lack. Iron & Steel Co., estimated to contain from 25,000,B. & N. Y. Air Line pref............ 2,998,500 1,394,700
4 p . o.A. & O. Pa.,
000
30,000,000 tons of anthracite coal (the capacity of the collieries
do
do
common.. 891,100
184,300 Pays no divid’d. thentoopen
about 800,000 tons per annum) had been purchased
Danbury & Norwalk.................. 600,000
152,925
5p. c.J. & J. by parties being
in th i N .Y . O. & W .—V. 68, p. 41. As to re
Naugatuck...................................2,000,000 1,020,500
10p. o.J. & J. funding, seeinterested
above
N. H. & Derby............................ 447.000
74,900
4
J. & J.
223,300
Pars nodivid’d. E arn in gs —5 months, >1893......... Gross, $1,803,840; net, $556,473
New England, com m on..........20,000,000
July 1 to Nov. 30.. > 1897........ Gross. 1 ,8 6 9 ,8 '9 ; net, 614,299
do
do
preferred........ 5,000,000
265,700 3 p.c. Oct.31,&c
For 3 mos. ending Sept. 30,1898, net, $376,294, against $ 123,046,
N. H. & Northampton.................2,460,000
.5,700
4
A. & O.
■Old Colony.................................16,508,900 10,851,400
7
Q.—J. oth. income, $21,340; charges, $232,816; sur., $164,818, agst. $206,085.
Pawtuxet Valley (par, $ (1))... 100,900
100,900 7 p. o. J. & J.
A nnual R eport .—Fiscal year ends June 30. Annual meeting last
Stockbridge & Pittsfield........... 448,700
437,700
6
Q.—J. Wednesday in September. Report for 1896-97 was given at length in
V.
67, p. 477, 485; see also editorial, p. 453. Coal traffic in 1897-98
G eneral F inances.—October, 1897, “ every note of the company had
been paid.” —see V. 65, p. 564; V. 64, p. 374, 664. In Deo., 1893, $1, was 1,605,508 tons (out of 2,479,292 tons), against 1,653,598 tons
in
1896-97,1,715,991
tons in 1894-95,1,642,063 tons in 1893-94.
300,000 out o f $3,161,400 treasury stock was sold to retire $1,000,000
N. Y. Prov. & Boston 1st 7s and $1,300,000 New Haven <fe Northamp
Year ending June 30.
1898.
1897.
1896.
ton 7s maturing Jan. 1,1899. and $2 '0,000 Housatonio RR. rolling Gross earnings... I.................. $3,914,635
$3,894,403
$3,779,335
stock certificates maturing July 1,1899. V. 67. p. 732,1208. “ Bos Operat’g expenses and taxes. 2,801,642
2,780,497
2,698,558
ton Terminal Co.’s” station wa3 opened Jan. 1,1899—see p. 152.
Balance, net earnings___$1,112,993
$1,113,906
$1,080,777
E arnings.—3 months ending Sept. 30: (Earnings of New England,
Shep L. & N. and 3 L. I Sound prop erties included since July 1, Tot. net income,incl. “ other.” $1,199,739
$1,196,706
$1,162,242
1898.)
Interest on mortgage bonds..
615,000
609,055
605,000
3 mo*.
Oross.
Net.
Oth. income. Int.Aax ,elc. Bal.,sur. Miscell. interest and discount
............
4,478
371
1898..
.$10,789,978 $4,193,248
$114 583 $1,952,374 $2,355,457
Rentals p a id ............................
182,278
183,263
181,302
1897..
.
8,315,149 3,398,925 31,192
1,576,290 1,853,827
$402,461
$399,910
$375,569
A nnual R eport .— Annual meetng is held third Wednesday in Oct Balance, surplus.....................
Report for 1897-98 in V. 67, p. 732. Statements include Old Colony. '
President, Thomas P. Fowler’—(V. 67, p. 4 7 7 , 4 8 5 ; V. 68, p. 41.)
Yr. end. June 30.
1898.
1897.
1896.
1895.
N e w Y o r k Sc O t t a w a R R . —Incorporated in July, 1897, and ac
Miles operated..
1,464
1,464
1,464
1,464
quired the Northern New York RR., Tuppers Lake to Moira, N. Y „ 56
Passengerearn8.$15,901,669 $15,967,864 $16,274,100 $15,298,056 miles.
Cornwall, Canada, to Ottawa, 57 miles, operated from July 29,
Freight earns .. 14,081,857
13,340,213
13,772,071
12,309,954 1898. Line
from Tuppers Lake to Ottawa, 128 miles, in operation,
Miscellaneous...
339,212
315,256,
299,459
293,725 except the bridge
over the St. Lawrence. Capital stock authorized in
1898, to be increased from $1,480,000 to $3,000,000, to
Gross earnings..$30,322,738 $29,623,333 $30,345,630 $27,901,735 September,
acquire stock of subsidiary companies. V. 66. p. 1189. Bonds have
Net earnings___ $9,431,052
$9,580,077
$8,837,708 been authorized per mile : first mortgage, $15,000; second mortgage,
$9,208,403
Other income___
601,068
614,071
234,825 $5,000. (V. 66, p. 1189.) Year ending June 30, 1898, gross, $33,751;
855,685
net $1,553; charges, $8,304. Chairman is George Foster Peabody.
Tot.netincome$10,032,120 $10,194,148 $10,064,089
$9,072,533 —(V. 65, p. 152, 412, 572; V. 66, p. 1189.)
104
INVESTORS’
SUPPLEMENT.
[V ol.
LXVIH
J a n u a r y , 1899. J
KA1LKOAD
STOCKS
AND
105
BOJtfDS.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Dne.
Amount Rate per 'When Where payable, and by pal,When
Stocks—Last
of
Par Outstanding
For explanation of column headings, Ac., see notes of
Whom.
Road. Bonds Value
Cent. Payable
on first page o f table.
Dividend.
N . T.A Ottawa RR.—1st M., $3,500,000— S x.o*&r
2d M. Incomes (cum. after July 1,1900), g.,S.,r
....
JV. f . Phila. A Norfolk—1st M., $16,500 p. in., gold.c*
Income mort., gold, non-cum., $10,000 per mile.r
NEW SECURITIES TO BE ISSUED UNDER PLAN.
1st mortgage, $3,000,000, gold....................... F P
Income mortgage, gold, non-cum. ($1,000,000)..
N. Y. A Putnam.—N. Y. & No. 1st mortgage, gold.c
N. Y. &P. 1st con., $6,200,000, g., gu. p.&i. end..c*
N. T. A Rock. B'h.—1st M., $1,000,000, gold, gu..c*
Income bonds, non-cumulative..............................r
N. T. Susquehanna A West.—Pref.stock (See text)...
Midland RR. of N. J, 1st mortgage, gold............c*
Paterson Extension RR. 1st M., real estate, g. .o*
N. Y. Sus. & W. 1st M., refdg, g. (2d M on 7 3 m.) .c*
2d mort. ($1,000,000 gold) 3d M. on 73 miles.o*
General mortgage for $3,000,000, gold............o*
Collateral trust bonds, subject to call, cur.......
Terminal 1st mort. for $2,000,000, gold..Fs.c*<fcr
112
112
Wilkesb. & East’n, 1st M., gold, guar. p. & i. Us.c*
Susq. Connect. RR. 1st M. g.,red. at 105, guar . c
N. T. Texas A Mex.—1st. M.,g.,$ or £,gu.by So.Pac.O”
Norfolk A Carolina—1st M. for $1,500,000, gold.c*
2d mortgage, $500,000, gold...............S. B a „ o*
Norfolk A Southern—Capitol stock.............*..............
1st mortgage, $10,000 per mile, gold.................. o*
Norfolk Va. Beach A So.—1st M., gold, red. at 105.
N orfolk & West. R y .—Common stock, $66,000,000
Adjustment pref. 4 p. c. non.cum. $24,500,000..
112
112
57
57
....
72
1
134
134
134
....
65
....
91
110
102
104
104
40
....
1897 l,000&o
1897 1,000
1896 100, &c.
1883
1,000
1883
1,000
$840,000
280,000
380,000
1,848,000
1,000,000
1898
1898
1887
1894
1887
1887
1,200,000
4,025,000
984,000
1,000,000
1880
1881
1887
1887
1890
1895
1893
1892
1897
1882
1889
1896
1891
1898
—
1,000
1,000
1,000
1,000
1,000
1,000
100
500&C.
1,000
1,000
1,000
1,000
1,000
l,000&o
3,500,000
225,000
3,750,000
453,000
2,546,000
373,000
2,000,000
213,680
1,000
3,000,000
1,000
450,000
$ &£
1,457,500
1,000
1,320,000
1,000
400,000
100
2,000,000 4 in
1,000
750,000
500 &o.
250,000
100 64,479,400
100 22,734,100 See
N e w Y o r k A P e n n s y lv a n i a R R . — Oswayo, Pa., to Canisteo.N.
Y ., 42 miles. In Deo., 18y8, contract reported let for extension from
Oswayo, Pa., to Milport, N. Y., 6 miles. Stock, $500,000 (par,$100);
outstanding, $462,000. For year 1896-97 gross, $28,821; net, $9,375;
charges, $6,028.—V. 62, p. 1178.
N e w Y o r k P e n n s y lv a n i a A O b lò R R , - See N ypano RE.
N e w Y o r k P h il a d e l p h i a A N o r fo lk R R . - Delmar, Del., to
Gape Charles, Va., 95 m., and King’s Creek, Md., to Crisfleld, 17 miles.
Bottomry mortgage $60,000. On June 30,1896, there were matured
interest coupons unpaid held by Penna. RR., $1,061,640, bills payable
$138,618. Stock, $1,714,375 ; par, $100; new stock is to be $2,000,000;
ar, $50. By plan below first mortgage interest will be 6 p. c. till July
, 1898; thereafter 4 p. o. till new securities are issued.
R eorganization P lan .—The plan of April, 1898, issued by Ellis
Committee (see V. 66, p. 760) provides for the issuance of $2.000,000 stock and the new bonds shown in table above. The old 1st
6s will receive 110 p. o. in new 1st 4s; the old stock will be assessed
15 p. c. and receive 100 p. c. new stock trust certificates ; and the in
come bonds w ill be assessed 35 p. c. and receive 100 p. c. in new 2d
mortgage incomes. In June. 1898, 90 per cent of the stock and in
com e bonds and two-thirds o f first mortgage bonds had assented to the
plan.—V. 66, p. 1141. Address Cassatt & Co., bankers, Philadelphia.
Meeting of stockholders called for Jan. 2 4 ,1 8 )9 , to authm ze se
curities under plan and to reduce par value of stock from $100 to
$50 per share. Y. 67, p. 1357.
E arnings.— 5 1897................................gross, $905,372; net, $163,136
Year.
\ 1896................................ gross, $945,833; net, $200,231
—V. 66, p. 665, 760, 811,1141,1189; V. 67, p. 275, 1357.
N e w Y o r k A P u t n a m R R . — Owns 155th Street and 8th Ave.,
N. Y. City (terminus Manhattan Elevated), to Brewsters,N. Y., 54 miles;
double-track branch to Yonkers, 3 m.; operates 4 m.; total, 61 miles.
H istory .—Successor to the N. Y. & Northern, sold under foreclosure
o f 2d mort. Deo. 28,1893, and purchased for N. Y. Central & Hudson
River RR., which operates it under lease—see V. 63, p. 754, 820,1159.
Stock .—Capital stock is $6,500,000 ; par, $100.
B onds.—The New York Central guarantees the new consolidated
mort. bonds, o f which $1,000,000 were reserved for improvements; also
$1,200,000 to retire at maturity the first 5s.—(V. 66, p, 83,135.)
N e w Y o r k A R o c k a w a y R e a c h R y . —(See Map Long Island RR.)
—Owns from Glendale Junction to Rookaway Park, with branch, 12
miles, o f which 10*31 miles double track, mostly 80-lb. steel ; leases,
1*93 miles; total. 13*93 miles; trackage to Long Island City, Brook
lyn, Far Rockaway, etc., 18 miles. Stock authorized and outstanding,
$1,000,000 ; par, $100. Controlled by Long Island Railroad Company,
whose endorsement is printed on first mortgage bonds. For year
ending June 30, 1898, gross, $212,578; net, $69,393; interest, $49,200; bai., deficit, $20,193. In 1896-97, net, $42,385. (V. 66, p. 1046.)
N e w Y o r k S u s q u e h a n n a A W e s te r n R R . — Operates direct
Line from Wilkesbarre and the Wyoming Valley coal fields to Jersey
City opposite New York City, with branches, a total of 238 miles:
Lines owned in fee.
Miles.
Lines leased, etc.
Miles.
Jersey City to Gravel PI., P a.. 101 Middletown Un. & Water GapU 14
[Double track 19 miles.]
Wilkesbarre & Eastern........ 65
Two bridges,N. J.,toUnionville 21 Susq. Connecting R R ......... 10
Other branches.......................... 24 Trackage................................. 3
.
?
Total road operated (flsee this co.) June 30,18 9 8 .........................238
Histo ry .—Consolidation in June, 1881, of the Midland of New Jersey
and other railroads and on April 25,1893, with the Hudson River RR.
& Terminal Co. The Wilkesbarre & Eastern, completed in 1894, and
controlled by ownership of stock, affords independent access to the
anthracite coal fields. The New York & Wilkesbarre Coal Co. in
June, 1898, had outstanding first 6s due 1912, M. & S., for $478,000
and 2d mtg. 5s for $485,000; the latter bonds are pledged under the
coll, trust o f 1895.
Control P urchased by E rie RR.—In 1898, a majority of the stock
had been purchased in the interest of the Erie RR. It is not intended
to merge the property in the Erie, but to continue its operation as
an independent and additional outlet to New York. See V. 66, p. 53,
83 and 759. The formal transfer to the Erie took place July 1,1898.
V. 67, p. 74. As to offer to minority stock see next paragraph.
Stock .—Authorized new preferred, $13,000,000; new common, $13,000,000. All the stock is outstanding.
In March, 1898, $90 in Erie 1st pref. and $100 in Erie common were
offered for each share of Susquehanna preferred and common, respect
ively. V. 66, p. 335, 573. In July, 1898, the Erie had acquired
nearly all the stock. V. 66, p. 759, 857.
D ividends .— > Nov., 1891, to 1893.
None
On pref., p. ct. 5
2 1« yearly.
since.
B onds.—The issue of refunding mortgage bonds is limited to $3,750,000. Of the general mortgage 5s, bonds are reserved to retire the
second mortgage 4*28. See mortgage abstract, V. 52, p. 84. The
seconds are exchangeable for generals on payment of $60 per bond.
On N. Y. Stock Exchange $2,547,000 generals listed to October, 1898.
As to terminal bonds listed in Sept.', 1893, see Supplement of Jan.,
1898, an<i abstract of mort. V. 57, p. 512. The Wilkesbarre A Eastern
None.
New York.
Nov. 1,1917
4 g. M. & N.
6
July 1,1912
6
J. & J. Homellsville,N.Y.offloe
See text.
Jan. 1, 1923
6 g. J. & J.
J. & J.
6
Oct. 1. 1938
4 g. J. &
J. &
5 g. A. &
4 g- A. &
5 g. M. &
Jan.
5
6 g.
6 g.
5 g4 1ag.
5 g.
6
i g5 g.
6 g.
4 g.
5 g5 g1898
5 g.
5 gtext.
A.
J.
J.
F.
F.
M.
M.
&
&
&
&
&
&
&
D. Phila., 28 So. 15th St.
D.
O.
New York City.
O. N.Y., Gr. Cent. Station.
S. N.Y., U. 8. M. & Tr. Co.
1
None paid.
N.Y.,Of. 26 Cortlandt st
O.
do
do
D.
do
do
J.
do
do
A.
do
do
A.
do
do
N.
do
do
N.
do
do
J. & D.
M. & S.
A. & O.
A. & O.
J. & J.
Q .-J .
M & N.
J. & J.
do
do
New York Office.
N.Y..S.Pac. Co.; London.
N. Y., Central Trust Co.
Balt. Safe Dep. & Tr. Co.
N. Y., Atlantic Tr. Co.
do
do
N. Y., Guaranty Tr. Co.
1938
Oct. 1, 1927
Oct. 1, 1993
Sept. 1, 1927
Sept 1, 1927
Nov. 27,1893
Apr. 1, 1910
June 1, 1910
Jan. 1, 1937
Feb. 1. 1937
Aug. 1, 1940
May 1, 1905
May 1, 1943
June 1, 1942
Mar. 1, 1907
Apr. 1, 1912
Apr. 1, 1939
Jan. 1, 1946
Jan. 10/99,1%
May 1, 1941
Jan. 1, 1948
N. Y., Off., 40 Exch. PI. Aug.24,’98,2%
|1st 5s (Guaranty Trust Co., formerly N. Y. G. & I. Co., trustee) are
unconditionally guaranteed.—V. 60, p. 481.
Susquehanna Connecting RR. issued $500,000 of bonds guaranteed;
$25,000 are redeemed at each interest period. (V. 65, p. 409.)
The New Jersey Midland junior securities are exchangeable into
stock of this company on certain terms, and have mostly been so
exchanged. There are also outstanding $70,000 Passaic & N. Y. RR. 6s,
due 1910 (int. J & D), interest on which is guar, under 999-year lease.
Earnings .—5 months, >1898........ Gross, $1,035,965; net, $513,202
July 1 to Nov. 30.
(1 8 9 7 .........Gross, 1,028,077; net, 453,257
R eport .—Report for 1897-98 in V. 67, p. 897, showed on 238 miles:
Tear.
Gross.
Net.
Oth. Inc. Charges. Bal. Sur
1897-98...........$2,329,119 $1,022,132 $29,009 $931,425 $11»,716
1896- 97........ 2,265,880
934,763
....
....
88,438
—(V. 66, p. 335, 574, 665, 759, 857, 901; V. 67, p. 74, 8 9 7 , 900.)
N e w l o r k T e x a s A M e x ic a n R y . — (See Map o f Southern
Pacific.)—Owns from tcosenberg to Victoria, Texas, 91 miles. Stock,
$630,040, o f which Southern Pacific Company owns $615,000. There
are also $60,500 old sixes outstanding
Operated by the Southern
Paoiflo Co., which guarantees the 4 p. o. bonds. In 1899 the Galv.
Har. & San Antonio intended to apply for permission to purchasethe
line.—See that Co.
E arnings.—4 months, > 1898............ Gross, $126,030; net, $67,166,
July 1 to Oct. 31.
(18 9 7 ............Gross, 144,597; net, 8-*,591.
In year ending June 30, 1898, gross, $362,452; net, $188,496;
surplus overtaxes and charges, $69,478. In calendar year 1896, gross,
$298,997; net, $143,024. Due So. Pacific Co. June 30,1898, $374.568.
N e w Y o r k W y o m in g A W e s te r n R R . — Organized in May,
1898, to build a road from Scranton, Pa„ to tidewater at New York
City, primarily as an outlet for the coal of the independent coal oper
ators V. 66, p. 1046. In Deo., 1898, 7,000 tons 95-lb. rails had been
ordered. V. 67, p. 1208. President, E. B. Sturges; Vice president,
L. A. Watres; Secretary, Thomas E. Jones; Treasurer, Thomas H.
Watkins.—V. 67, p. 1208.
N o r fo lk A C a r o lin a R R . — Owns from Norfolk, Va., to Tarboro •
N. C., 101 miles; branohes,9 miles; trackage to Rooky Mount,17 miles,
Opened April 1, 1890, and forms a p a rt of the Atlantic Coast Line,
which owned $997,500 stock on June 1.1897. Stock, $2,500,000; p a r,
$100. Dividends: In 1896, 3 p. o.; in 1897, 6 p. c. V. 62, p. 186. In
1897- 98, gross, $686,856; net. $272,903. In year ending June 30,
1898, gross, $686,856; net. $272,903 ; other income, $10,754; inter
est charges, $86,000; dividends, $120,000; bal., surplus for year,
$77,657. In 1896 7, gross, $558,054; net, $191,525. In 1895-6,
gross, $492,412; net, $174,932.—V. 66, p. 2 3 3 .
N o r fo lk A S o u th e r n R R . — Owns Berkely, Va., to Edenton, N. C.
73 miles; (ferry across Albemarle Sound to Mackey’ s Ferry, 9 miles;)
thence road to Belle Haven, 30 miles; total main line, 103 miles.
H istory .—Successor to Norfolk Southern, foreclosed April 29,1891.
D iv id e n d s .—J uly, 1892, to Jan., 1899, incl., at 4 p. o. p er annum .
R eport .—Fiscal year ends June 30. Earnings have been as follows:
Gross.
Net.
Other Inc. Charges. Sur.tordiv.
1897-8.............. $526,835
$154,743
$4,455
$38,483 $120,715
126,543
2,694
38,732
90,505
1896-7.............. 457,918
In each year paid dividends of $80,000.—V. 65, p. 8 6 6 ; V. 67, p. » 5 0 .
N o r fo lk V i r g ln t a R e a c h A S o u t h e r n R R . — Norfolk to Vir*
ginia Beach, Va., 18 miles, and to Munden Point, V a „ 22 miles
making total 40 miles. Owns Princess Anne Hotel and 1,300 acres
of land at Virginia Beach. A reorganization of the Norfolk Albemarle
& Atlantic RR., foreclosed in 1896. See V. 62, p. 909 and 1178. Stock.
$1.000,000. In Jan.. 1898, filed a mortgage for $750,000 o f 50-year
gold 5s; trustee, Guaranty Trpst Company, N. Y. Of the bonds,
$250,000 were issued to retire the old 1st mortgage 5s. Year ending
June 3 0 ,189S, gross, $125,417; net, $22,447; charges, $11,692. A l
fred Skitt, New York, Pres.; J. Carstensen, Sec. and Treas.—V.63, p. 459.
N o r fo lk A W e s te r n R y . —See Mop.—System extends from Nor
folk, Va., westward to Columbus, Ohio, and northward to Hagerstown,
Md., with branches to the various coal fields in Virginia and West Va.
Road owned.
Miles.
Miles.
Norfolk, V a„ to Columbus, O ..710 Roanoke to Winston.............. 121
Radford, Va., to Bristol, Tenn. 107 Sundry branches........................125
Roanoke, Vay to Hagerstown.238
Graham to Norton....................100
Total of all June 30,1898.-1,561
Nor. Car. June, to Iron Ridge. 45 Double track............................
59
Lynchburg to Durham, N. C.. 115
Organization —This Railway company on Oct. 1,1896, succeeded to
the property and franchise o f the Norfolk & Western RR. sold in fore
closure under the loO-year and Maryland & Washington division
mortgages and of the Lynchburg & Durham RR. foreclosed under its
first mortgage, and subsequently also of the Roanoke & Southern fore
closed Nov. 24,1896, and merged in N. & W. The reorganization p l a n
was in V. 62, p. 641. The old stock paid an assessment o f $12 50
per share, common receiving 75 p. o. and the old preferred 1121a p. o.
in new common. 'New preferred was issued to old bondholders.
The Norfolk & Western RR. was a reorganization in 1881 after fore
closure sale of the Atlantic Mississippi & Ohio, which in turn was a
consolidation of Norfolk & Petersburg, South Side and Va. & Tenn. road
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S u b s c r ib e rs w i l l c o n fe r a g r e a t f a v o r b y g i v i n g I m m e d ia te n o tle e o f a n y e r r o r d is c o v e r e d I n th e s e T a b le s
RAILROADS,
Bonds—Prlncl
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due *
Amount Rate per When
Cor explanation of column headings, &o., see notes of
of
Par
Where
Payable,
and
by
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
N o rfo lk & W estern Jty.—(Concluded—
N orfk & Petersb’g—2d M. (now 1st) Nor.to Pet’g.c
81
South Side—Consol, ihort., 1st pref., extended, .o 133
Consol. M. 2d pref., gold, extended.................. c 133
Consol. 3d pref. ($100,000 were ext. at 4 g.) ..c 133
do
do
old 6s, extended 1896 & 1897.
133
do
do
old 6s, ext. In gold in 18 9 8....
133
Virginia & Tenn. Enlarged M. (extend in. 18841 .c 214
4th M., now 2d, Lynchb’g toBristol and br’ch. .cl 214
Norf.&West.Gen.M..Norfolk to Bristol.etc. gold.c* 428
New River division 1st mortgage, gold..........c* 160
Improvement & Extension Mortgage, gold.. .o* 588
Scioto Valley & New England, l 8tM.,assum.,g.o* 129
First consolidated mortgage securing: (Prior Lie nbond
Prior lien bonds, $3,500,000, gold, red. at 105. 1.570
First consols, $62,500,000, gold..................o*<fer 1.570
CoL Con. & Term. 1st M., gold. gu. p. & i. (end.)c*
Equip, trust of 1893, gold, not subject to call, .o'*
Equip. trusts, guar, by RR. Equipm’t Co., g .....c
Worth Oar.—Stock. 6 *2% till D ec.31,1901—then 7% 223
'North Pacific Coast—1st M., gold, sub. to call atlOO.c 90-5
General M. for $1,500,000, gold.......................... c 90-5
No. Penn.—Stk,. 8 p. c. gu.990 yrs.,$6,000,000 auth.
86
Old 2d M., now 1st M.( 7s extended in 1896)....o
56
General mortgage bonds.................................... c&r
86
Consol, bonds secured by $1,200,000 stock........ r
Real estate mortgages, June 3 0 ,18 9 7 ..................
1868
1868
1868
1868
1868
1868
1854
1866
1881
1882
1883
1889
s to be
1896
1896
1892
1893
1892
1881
1892
1866
1873
1881
$ 1,000
$496,000
5
J. & J. N. Y., Meroant. Tr. Co. July 1, 1900
1.000
290.000
5 & 6 J, & J.
do
do
July 1, 1900
100 &e
270,500 5g.& 6g. J. & J.
do
do
July 1, 1900
100 &o
152,800 4 g. & 6 J. & J.
do
do
Jan.-July, ’00
1,000
200.000
5
do
J. & J.
do
July 1, 1900
1,000
100,000
do
4*2g. J. & J.
do
July 1, 1900
1,000
985.000
.5
J. & J
do
do
June 30,1900
1,000
1,000,000
8
J. & J,
do
do
Mch. 1, 1900
1,000
7.283.000
do
do
6 g. M. & N,
May 1, 1931
1,000
2,000,000
do
do
Apr. 1, 1932
6 g- A. & O.
1,000
5.000.
000
F. & A.
See text.
Feb.
1, 1934
Ì= gg- M. & N, N. Y., Meroant. Tr. Co, Nov. 1,
1,000
5.000. 000 4
1989
issued only if neoes sary).
None,
New York.
4 g.
1946
500 &o. a 22,923000
A. & O N.Y. Mercantile Tr. Co, Oot. 1, 1996
500
600.000
i t J. & J N. Y., Atlantic Trust Co, Jan. 1, 1922
1,000
234.000
Q .-J . N.Y. Mercantile Tr. Co, Oo. ’99-Jan.’08
1,000
224.000
Oo. ’99-Oot. ’02
i t Q.—J.
100
4.000.
0006ki-7 F.&A. io,
Burlington, N. C.
Aug., ’98,3%
1,000
565.000
M. & N. San Fran., Co.’ s Office, Nov. 1, 1901
1,000
908.000
do
do
Jan. 1, 1912
g- J. & J.
50
4,720,750
8
Q.—F. Phila. Of., 240 So. 3d St, Nov.25/98,2%
500 &c.
1.500.000
M. & N.
4
do
do
May 1, 1936
4.500.000
J. & J.
7
do
do
Jan. 1, 1903
1.200.000
6
M. & S.
do
do
Sept. 1. 1905
319,257
a Of these $425,750]held in treasury Jan.7,1899.
N o r fo lk & W e s t e r n R a i l w a y ( C o n c lu d e d ) .—
Stock .—Provisions o f preferred stock certificates were given in SUP'
of April, 1897, page 4, said stock being 4 p. o. non-oumulative,
with preference as to assets and dividends, and with right during the
first five years to elect two-thirds of the directors unless three full yearly
dividends are paid. No additional mortgage can be created without
consent of two-thirds interest.
plem ent
D ividends —On adjustment pref.: N ov.,’ 9 7 ,1 p.c.; i n ’98, Feb , l p
c .; Aug., 2 p. c.
B onds.—The new bonds authorized a re:
Prior Lien 50-year gold bonds, only if necessary.................. $3,500,000
First Consol. M. Cold 4s, due 1996............................................ 62,500 000
Of which for old bonds disturbed......................................... 23,322'675
Reserved for $23,388,200 undisturbed bonds......................25,986,889
Reserved for existing obligations, or to retire Prior
Lien bonds if issued............................................................... 3,500 000
For new construction, acquisitions and improvements
’
not exceeding $1,000,000 yearly......................................... 9,690,436
The new 4 per cent first consols ar-i (subject to the small amount of
Prior Lien bonds which may be issued only in case of urgency) a
first mortgage on a large part of the system, viz., upon 845 miles of
railroad; upon important terminals at Norfolk and Lamberts Point ;
upon the Ohio River Bridge and the Roanoke Machine W orks; besides
being a consolidated mortgage upon the remainder of the system, sub
ject to the undisturbed liens. They are further secured by the
equipment, certified to have cost over $11,000,000, covered by the Oar
Trusts and equipment bonds to be taken up under the plan. The Prior
Lden bonds if issued will be retired at 105 b y sale whenever possible
o f first consols at or above 95. Undisturbed bonds which cannot be
taken up at maturity on satisfactory terms by use of the consols re
served for that purpose may be extended or renewed. See a b s tr a c t
in V. 64, p. 3 7 6 . As to Scioto Valley <6 New Eng. see Sup. of Jan., ’94.
G eneral F inances.—The reorganization reduced the fixed charges
from $3,214,037 to $2,263,194, a reduction of $950,843; liquidated
floating debt and took up car trusts except those of 1892 and 1893.
The annual charges ahead of the new common stook are smaller than
those ahead of the old preferred stook. Of the company’s traffic in
1897-8 58 per cent (4,016,563 tons) was bituminous coal and coke.
E arnings—5 months, $ 1898...... Gross, $4,907,588; net, $1,684,148
July 1 to Nov. 30.
¿1897.....Gross, 4,793,133; net, 1,538,217
Annual R epost .—Fiscal year ends June 30. Annual meeting is
fix, Roanoke, Va., on second Thursday in October. Report for
1897-98, V. 67, p. 526, 536 (see editorial p. 602) showed:
Tears end. June 30—
1898.
1897.
1896.
1895.
Average miles operated.
1,561.
1,569
1,570
1,570
Passenger earnings......... 1.467,532
Freight earnings............. 9,306,899
Mail, express, & o ..........
461,692
1,406,223 1,551,732 1,526?388
8,695,633 8,894,880 7 889,010
435,857
462,247
458,224
Total gross ea m in g s..ll,236,123 10,537,713 10,908,859 9,873,622
Op er vting exp. & taxes.. 7,886,099 7,903,451 8,512,221 7,583,360
P. o. of exp. to ea rn s....
(70 18)
(75-00)
(78-03)
(76-80)
Net earnings............. 3,350,024 2,634,262 2,396,638
Other income...................
32,963
Net incom e...........
3,382,987
Interest on funded debt. 2,211,075
Interest on car trusts....
28,358
Dividends.........................
454,198
M iscellaneous.................
4,605
2,290,262
Reorganized company
took possession Oot.
1,1896.
Balance...................... sur684,751
Officers .—President, Henry Fink; Chairman of the Board of Di
rectors, F. J. Kimball, 27 William Street, New York; Secretary, A. J.
Hemphill, New York; Treasurer, W. G. Macdowell, Roanoke, Va.
I ndex .- V . 65, p. 602, 617, 6 2 8 , 729,1115; V. 67, p. 2 7 2 , 275, 5 2 6 ,
o d b j 1200.
N o r ik C a r o lin a R R . — Owns from Goldsboro to Charlotte, No.
Carolina, 223 miles. Leased from Jan. 1,1896, to theSouthern Ry. Co.
f° r 99 years at $266,000 (6*a p. o. on stook) per year till Deo. 31,1901
86j000 (equal to 7 p. o. on stock) balance of lease; also taxes!
p. 361. Of the stow the State of Nort’i Carolina holds $3,000.
000. The Southern Ry. has set aside $4,000,0 JO of its new consols to
desired, to acquire a like amount o f North Carolina stook.
o ? x 8>
??? E; 0#
August* 3 p. e. All contested questions
with State of North Carolina regarding lease were settled in March,
1898.—V. 65, p. 27; V. 66, p. 665.
.North. P a c ific C o a s t R R . ( N a r r o w G a u g e ) —Owns San Fran
cisco to Cazadero, 87 miles; branches to San Rafael and Mill Valley 4
miles; leases to San Quentin, 3 miles; total operated, 94 miles, includ
ing ferry to San Francisco, 6 miles; also has ferrv to San Quentin. 11
miles. Stock authorized, $3,000,000; issued, $ i ,500,000; par, $100
For year ending June 30,1898, gross, $355,281; net, $118,742; inter
est, taxes, etc., $95,417; balanoe, surplus for year, $23,325. In 1896-7
gross, $343,130; net, $118,904.—V. 63, p. 4 0 0 .
N o r th P e n n s y lv a n i a R R . — Owns from Philadelphia, Pa., to
Bethlehem, Pa., 56 miles; branohes to Delaware River, &o., 30 miles;
second track, 541« miles; total track, 217 miles. Ground rents
July 1,1897, $170,371. Leased for 990 years from May 1,1879, to
Phila. & Reading RR. at 8 per cent on stook, and lease assumed in
1896 by Phila. & Reading Railway. (V. 62, p. 462, 870.)
N o r t h - E a s t P e n n s y lv a n ia R R . — Owns road from Glenside to
New Hope, Pa., 26 miles. Controlled by P. & R. Capital stook,
$400,000, of whioh $315,000 owned by Reading Co. is deposited under
its general mortgage of 1897; par, $30.
N o r th e a s te r n R R . o f G e o r g ia .— Road from Athens to Lula
Ga., 39 miles. Opened in 1876. Sold in April, 1895, and purchased by
the State, whioh leased it in May, 1896, to E. A. Richard & Co. for
$18,600 yearly, but road was turned over to State again May 7,1 89 7 .
rental being in default. State ageut is Rufus Reaves. V. 64, p. 954
Governor has been authorized to sell the road for $287,000.
E arnings.—4 months, J 1898......... Gross, $23,386; net, def., $5,304
July 1 to Oot. 31.
¿1897.......... Gross, 24,207;
net, 8,305
Year ending June 30,1898, gross, $72,333; net, $15,986. In 1896-97
gross, $64,988 ; net, $21,386.—V. 64, p. 1001,1225; V. 65, p. 1174.
N o r t h - E a s t e r n R R . —In 1898 merged in the Atlantic Coast Line
RR. of So. Carolina. (V. 67, p. 31,179.)
A nnual R eport.—Report in V. 65,p. 1170, and V. 66, p. 233, showed:
12 months. Gross.
Net.
Other inc.
Int.,etc. Bal.fordiv
1896-97...... $532,528
$162,310
$33,957
$137,440
$58,827
1895-96...... 530,760
164,413
36,163
135,220
65,356
Dividends for 1896-7 were $54,000, leaving bal. surplus o f $4,827 fo r
year.—(V. 64, p. 887; V. 65,p. 1 1 7 0 ; V. 66, p. 2 3 3 ; V. 67, p. 31.)
N o r th e r n A la b a m a R y . — R oad —Sheffield to Parrish, Ala., and
branoh, 119 miles. A reorganization of the Birmingham Sheffield &
Tennessee River Ry., sold in foreclosure Sept. 16, 1895. Stock —
$2,000,000; par $100. M ortgage trustee is Knickerbocker Trust Oo ;
the bonds unissued may be sold at not exceeding $15,000 per mile for
extensions. Under supplemental mortgage of 1898 $400,000 o f the
outstanding $l,70o,000 1st 5s were made prior liens. (V. 67, p. 1208.)
E arnings—In year ending June 30, 1898, gross, $192,890; net,
$60,642; taxes and interest on current liabilities, etc., $34,598:
balance, $26,044, added to surplus. In 1896-97, gross. $171,631. Fis
cal agents, J. Kennedy Tod & Co., 45 Wall Street. New York.—(V. 56
A 1014; V. 61,p. 26, 111, 516, 829; V. 67. p. 1208.1
N o r th e r n (N ew H a m p s h ir e ) R R . — Owns Concord, N. H „ to
West Lebanon, N. H., 70 miles; branoh to Brist >1, N. H., 13 m ; total,
83 miles. Lease to Boston & Lowell for 99 years from Jan. 1,1890, was
assigned to Boston & Maine, rental was 5 per cent on stock till July 1
1897, and now 6 per cent, payable in gold. In addition to the
5 per cent dividends provided for by the lease, an extra 1 per cent
per annum (making the quarterly dividends 1 ^ p. o. each) has been paid
regularly from the contingent fund, and also in 1894, Jan., 5 p. o. extra
was paid; in 1896, July, 2 p. c. extra; in 1897, April, 2 p. o. extra •
$i.76U8873 Py Cg|xt'r£^ 6g ,ontingent' fund April 30,1896, amounted to
N o r th e r n C a lifo r n ia R y . —See Southern Pacific RR.
N o r th e r n C e n t r a l R y . — Owns Baltimore, Md., to Sunbury, Pa
139 miles, of whioh 117 miles double track—branch, 9 miles; leasesShamokin Valley & Pottsville Railroad, 28 miles; Elmira & Williams
port Railroad. 78 miles; operates at cost—Elmira & Lake Ontario Rail
road, 100 miles; Lykens Valley Railroad, 20 miles; Pennsylvania
Railroad, 3 miles; total operated, 377 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.
Subsidiary lines. Concord & Claremont RR., 71 miles; Peterborough <fc
Hillsborough RR., 19 miles.
Organization .—This was a consolidation of several roads in 1854.
Controlled by the Pennsylvania RR., which owns $3,488,950 stook.
Securities Owned —On Jan. 1, 1898, among the assets held were
Balt. & Potomao stook (par) of $704,450; Elmira & Lake Ontario stook
(all), $1,500,000; Shamokin Valley & Pottsville stock, $619,650; Union
RR. stock. $1,225,000 (the balanoe of $875,000 being held by PhilaWilm. & Balto.), etc. Value of all, as per books, $2,693,829. The inoome from investments in 1896 was $324,384.
L iabilities .—Jointly with the Penn. RR. and Phila. & Erie this com
pany guarantees the Allegheny Valley 5 per cent loan o f 1870. Mort
gages and ground rents on January 1,1898, were $352,382.
The company claimed the right to pay the i 1,500,000 6 per cent
State loan on June 15,1893, but the matter is to go to the Courts fo r
settlement and interest meantime paid.—V. 66, p. 1141; V. 67, p. 126.
D ividends .— ) 1888. '89. ’90. '91. ’ 92. ’93. ’94 to ’ 98. ’99.
Per cen t... J 7
8
8
7
8
8
7
Jan., 4
E arnings.—11 months, > 1898.....Gross, $6,050,407; net, $1,721,640
Jan. 1 to Nov. 30.
(18 9 7 ...... Gross, 6,146,263; net, 1,902,939
lOS
INVESTORS’
SUPPLEMENT.
[V ol.
LXVIH
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g I m m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
INTEREST
RAILROADS.
Miles Date Size, or
Amount Rate per When
Par
of
For explanation of column headings, «fee., see notes of
Outstanding
Cent. Payable
Road. Bonds Value.
on first page of tables.
$400,000
26 1890 $1,000
No. East Penn.—1st M., g., gu.P.«&R. old oo.(end.)c*
North-Eastern ( 8 . C.)—See A tlantic Coast L ine Co. OF So. Ca ROLINA.
1.000
1,700,000
1896
North'n Ala. B y . - IstM., *3,000,000, g., see text..o 107
180,000
Equipment trust obligations, July 1 ,1 8 9 7 ------100
3,068,400
"83
Northern, (N. f l j —Stock, 6 p. o. ren ta l................ .
Northern California—See Southern P acific R R.
50
7,518,150
Northern Central-Stock (*8,000,000 authorized) .
1,500,000
1st mortgage, State of Maryland loan................... 138 1855
500
«fee.
1,126,000
138 1865
2d m ortga ge......
-*--®
1,000
2,804,000
1868
138
Consol. M., gold; coup., int. J & J; reg., A <feO.o<fcr
1,224,000
Consol, gen. mort. Cgold, s.f., dm . at 100, A&B.e 138 1874-5 $<fe£
2,000,000
of 1874, gold, se- < gold, *, C «fe D ....................... o 138 1876-7 *1,000
1,000
1,557,000
1885
cures all equally. ( gold, E •■■■•- - - - - " - - - •0 138 76<fe82
1,000
3,565,000
2d gen. morr., series “ A” & “ B” (A *2,565,000).. 138
600,000
1,000
9 1873
UnionRR.,2dm . (now 1st) assumed* or St, gold.c
100
1,000,000
Northern o f New Jersey—8tock..................................
654,000
21 1887 100 «fee.
3d mortgage, now 1st (for *700,000).................. c
150,000
Nyack & Northern 1st mortgage, rental guar..... 4-37 1880
1,000
2,500,000
Nor. Ohio—IstM.g. ($15,000p.m.) gu p ^ i.L E & W .c-' 167 1895
100
*80,000,000
N orth ern P acific B y . —Com. stock,$80,000,000..
100 75,000,000
Pref. stock, *75,000,000, non-cum. 4 p. o * .......
1,000 x
739,000
No. Pao. RR.. gen. 1st M., g., coup., dr. at 110.o* 2,146 1881
do reg.,dr. at 110 after coup, bonds retired. 2,146 1881 5,000«fee x 5,545,000
1,000
402,000
Western RR. Minn. 1st M., gold, a ssu m ed ........ 6 0 ^ 1877
1,000
8,021,000
182 1883
New mortgages o f Northern Pacific By.See t 1896 500 &c. 88,270,000
See i 1896 500 &c. 56,000,000
Whom.
pal,When Due.
Stocks—Last
Dividend.
5 g- A. <& O. Phila., Phila. & Read’g. Apr. 1, 1920
Jan. 1, 1926
5 g. J. «fe J. New York, Agency.
See text.
Q .-J .
Boston, 19 Milk Ht.
7 for ’98 J. <& J.
Annapolis.
6
Q.—J.
A. <fc 0.
6
6 g. Various
6 g* J. «fe J.
6 g. J. «fe J.
do
do
4*ag. A. «fe O.
5
J. «fe J. Baltimore,Treas. Office.
London
<
&
Balt.
6 g. M. «fe N.
N. Y., 199 Chambers St.
ia in ’97
6
J. «fe J. N. Y., U. S. Mort. «St Tr.
do
do
6
J. «fe J.
5 g. A. <fe O. N. Y.. Chase Nat. Bank.
New York and Berlin.
1 Feb.’99
do
do
4
Q .-M .
6 g. J. «fe J. N.Y., J.P. Morgan <&Co
do
do
6 g. J. «fe J.
do
do
M.3SC&N4
7
do
do
11
6 g.
4 g.
3 g.
Jan. 1,’99,1*3%.
Jan. 16,’ 99,4%,
See text
Apr. 1, 1900
July 1, 1900
July 1, 1904
July 1, 1904
Apr. 1, 1925
Jan. 1, 1926
May 1, 1900
Jan. 1 5 ’97,^94
July 1. 1917
1900
Oct. 1, 1945
Feb. 3, ’99,1%
Mar. 3, ’99,1%
Jan 1, 1921
Jan. 1, 1921
May 1, 1907
Feb. 1, 1923
Q .-J . N.Y.,J.P.Morgan&Bert Jan. 1, 1997
Jan. 1, 204T
do
do
Q.--F.
t Berlin at 4-20 marks per
IT Coupon bonds F.«fe A.; reg. bonds Q.—F.
* Represented by votingdollar^ EXJC4?49^ei ^ e 8,3i n c l u d i ^ ^ <i^ e s PnoTopera^(i>/ spurs, 126 miles f trackage, Unes
owned, etc.. 41 miles,
trust certificates.______ ________ _________________ __________
V oting Trust.—Both classes of stook (except sufficient to qualify
A nnual repo rt .—Fiscal year ends Deo. 31. President s report for
directors) are vested until Nov. 1,1901 (unless surrendered earlier at
1897 given at length in V. 66, p. 423,427, showed the foUowing:
their discretion) in following voting trustees: J. Pierpont M organ,
1896.
1895.
1894.
Tear end. Dee. 31—
1897.
Belmont, Johnston Livingston, Charles Lanier, all of New Y ork,
$6,286,602 *6,506,028 *6,031,260 August
Gross earnings........... $6*732,703
and Georg Siemens of Berlin. Provisions o f voting trust and of pre
1,643,497
1,907,509
1,797,144
Net earnings............... 1,934,336
ferred
stock
were in Supplement of April, 1897, page 4.
400,075
457,391
386,335
Otherreceipts..............
¿$bo,7oo
Stock .—The new preferred stook is subject to oall in whole or in
part,
at
par,
upon any first day of January prior to 1917.
Total net inoome---- $2,801,134 »2,043,572 »2,364,900 »2,183,479
Additional preferred stock and other mortgages can be issued only
436,592
455,996
485,759
Rentals, «fee..... ...........
410,040
with
consent
of a majority of the preferred and of the common stock
843,632
852,588
850,921
Interest on debt.............................. 834,153
(7) 526,267 (7) 526,267 (7) 526,267 represented at a special meeting. JPref. stock is “ entitled to non-cum.
Dividends................... (7) 526,267
159,490 _________
378,191
210,840 dividends to the extent of 4 per cent per annum, payable quarterly
Miscellaneous..............
134,060 _________
ont of surplus net earnings in each fiscal year before any dividends for
such year shall be paid on the common stock.” In any fiscal
Balance, surplus---- $396,604
*77,590
$151,858
*109,693 year
in which 4 per cent dividends shall have been declared on
_ (V . 66, p. 3 8 0 , 4 2 3 , 4 2 7 , 709,1141; Y. 67, p. 126.)
both preferred and common stock, all shares, whether preferred or
N o r th e r n R R . o f N e w J e r s e y .— Owns from Bergen, N. J., to common, shall participate equally in any further dividends for such
Bnarkill. N. Y., 21 miles; leases Sparkill to Nyack, 5 miles. In July» year. In 1898 $3,000,000 was set aside as a reserve fund until toe1897, Control was purchased by the Erie RR. which has been operating end o f 1901 to ensure the continuity of dividends on preferred. V.
the road for 68*8 per cent of its gross earnings. The roa dw ill stdlbe 67, p. 588—see also p. 579. Dividends upon stock registered in Berlin
d e r a t e d separately* V. 65, p. 151. Stock *1,000,0 ( » ; par, *100. may be collected there at the rate of 4-20 marks per dollar.—See als*
D ividends since 1892 : In 1893,
P* c. ; in 1894,4 J4 P* c in 1895, V. 63, p. 1071.
4 ^ ; in 1896, 4; in 1897, Jan., *a p. o.; July, none.
D ividends .—On Preferred.—First dividend paid Jan. 15,1898,1 p .o .;
annual R eport .—For fiscal years ending June 30:
Mar. 3 ,1 8 9 8 ,1 p. c.; June, 1 p . c.; Sept., 1 p. c . ; Dec.. 1 p. o.; in 1899,.
Dividends. Mdircli 1 p, (j,
Year
Bental. Net income. Charges. Bal.,sur.
(8 *2) *85,000
On Common.—First dividend Feb. 3, 1899,1 p. o., to be paid out o f
1896-7 .......*13 9,977
*92,924 $81,§08 *11,716
(4 ) 40,000 net earnings of first half of fiscal year 1897-8. (V. 67, p. 1264.)
1 8 9 5.6 ........ 118)241
98,059
56,079
41,980
B onds.—A b s tr a c t s of the new Prior Lien and General Lien m ort
—(V. 63, p. 8 3 7 ; V. 65, p. 69, 111.)
N o r t h e r n O h io R a i l w a y . — (See Map Lake Erie <6 Western.)— gages of 1896 (the General Lien mortgage being in all respects subject
Owns read from Akron to Delphos, O., 165 miles; branches, 2 miles. to the other) were in V.63, p. 1012-1019, and the statement to the N ew
A reorganization of Pittsburg Akron & Western sold m foreclosure York Stock Exchange, was in V. 63, p. 1072, showing:
Oct. 17? 1894. Road is leased in perpetuity to L. E. «few. V. 62, p. 82b. Prior lien 100-year gold 4 p er cents secured by mortgage
to the Mercantile Trust Co., mortgage trustee, upon the
The Cleveland <&New Castle was projected in 1898 as an extension
main line, branohes, land grant, equipment, etc., of the
o f the No. Ohio Ry. to New Castle, Pa., with a branch, m all about 85
Railway Co., and on all property subsequently acquired
miles, but plan reported in abeyance.—(V. 66, p. 337; Y. 67, p. 1004.)
with the proceeds of the bonds. The prior lien bonds
Stock .—Common stock (aU owned by L .E . <feW.) *3,580,000; pre
are purchasable with land sales at not exceeding 110
ferred non-oumulative 5 p. o. stock, *650,000; par of each *100.
after retirement of general 1st mortgage bonds of 1881
b o n d s —The first mortgage is for *4,000,000 and bonds are guaran
(but are not subject to call), not over $500,000 cash
teed principal and interest, by Lake Erie <&West, by endorsement on
yearly to be so applied. Totalissue.................................. *130,000,000
each bond. Bonds for *1,500,000 “ are only to be issued at n o tto ex Issued
85,270,000
ceed *15 000 per mile of completed road for such hereafter constructed Reservedto retire $6,284,000 general first 6s of 1881......
g,807,000
or purchased road, if any.” For year ending June 30,1897, gross
Do
St. Paul & N. P. and Western RR. bonds.......
8,423,000
earnimis were” $123,735; net, *14,377; charges, *133,288; deficit, For new construction, betterments, equipment, etc., under
*118,911. In 1895-96, gross, *149,469; net, *8,552.—V. 66, p. 337.
carefully guarded provision«, but not exceeding *1,500,000 per annum. Originally *25,000,000—still held.......
23,300,000
N o r t h e r n P a c if ic R a i l w a y . — (See Map.)—Operates one of the
leading lines to toe Paciflo, having its eastern termini at St..Paul, General lien gold 3 per cents (Farmers’ Loan «St Trust Co.,
mortgage trustee).................
* 190,000,000
Minn., and Duluth, Wis. (the head of Lake navigation), and run
130,000,000
ning thence westerly, traversing the great wheat belt of Minnesota Of which reserved for prior lien bonds ..............................
36,000,000
Mid North Dakota, the mining district of Montana and toe fu m in g Issued to carry out reorganization .....................................
4,000,000
countrv o f Washington to Tacoma and Seattle, and to Portland, Ore For new construction, betterments, equipment, etc..........
gon. with branches to Winnipeg, etc. The system com prises:
Prior lien bonds are reserved to retire the present divisional bonds.
Main line.
Miles.
Branches, etc. _ _
When these shall have been retired, the prior lien bonds, by direct
Spurs, main and branches. . . 1
mortgage, or through ownership of securities, will be the first mort
Ashland, Wis., to Portland,
Ore........................................ 2,157
gage on 4.519 miles including “ lines owned but not operated , 29'
Brainerd to St. Paul, e tc ... 181 Total system June 1,1898....4,499 m iles; spurs, 123 miles; trackage and road half owned, 41 miles.
Since acquired (operated as
Said bonds are now (thrimgh the ownership of substantially all toeindependent properties) —
securities) virtually a first lien on 2,077 miles. Furthermore, as toe
Total main line...............
Yarious branches................... 1,999 Seattle & Internat.................. 165 prior bonds hold *33,235,000 out of $39,951,000 of the Northern PacificWashington C en tra l............. 109 Railroad general first mortgage bonds, they now represent more than.
Main line operated.............4,330 Wash. & Col. River,............... 176 33-40ths of the first lien on 2,442 miles additional, and on the mort
50 gaged land grant. Sinking fund operations are retiring the out
Branches not operated.........
43 Spokane & Seattle.................
standing $6,284,000 general first mortgage bonds, of which
Total...............................
500 *739 000 are coupon and $5,545,000registered bonds. CouponAlso lias 9-47 miles of terminals and 164 miles o f water lines.
bond’s are exchangeable for registered bonds in *5,000 and multiples
In July 1898 had 111 miles under construction, of which about half thereof: registered bonds cannot be called until coupon bonds have all.
werereportedtobenearly completed. Clearwater line, see V,67,p. 1264. been retired. See V. 64, p. 1225. No additional bonds can be issued
H istory —This Wisconsin company on Sept. 1,1896. succeeded to the under the old mortgages assumed, nor can said bonds be extended.
An a b s t r a c t of the general first mortgage of 1881 was in V.
railroads, land grant and other property of the Northern Pacific RR.
foreclosed in July, 1896, and reorganized per p la n in V. 62. p. 550 58 d 903 The sinking fund under this mortgage must receive yearly
an
amount equal to at least one percent of entire issue, but toe pro
In the reorganization the *49,000,000 old common stock paying as
sessment of 15 per cent received 100 per cent of new common. The ceeds of land sales to whatever amount received are applicable to the
redem
ption^ the bonds at 110. See terms o f exchange for prior lien.
*85 000,000 old preferred paying assessment of 10 per cent received
50 per cent in new common and the same of new preferred. The St. 4s in Oct., 1898, in V. 67, p. 690, coupon bonds only to be accepted
alter Deo. 15,1898. (V. 67, p. 1056.)
Paul <fc Northern Paciflo is now owned in fee.
. .
^
hi .« original Northern Pacific Company was chartered by Congress
L and Grant .—The land grant was 12,800 acres to the mile in the
Julv 6 1864, and its road, opened 450 miles to Bismarck, was fore States o f Minnesota and Oregon and 25,600 acres per mile in the (then)
closed in 1875. An outlet to Chicago was acquired in 1890 through intermediate territories
territories. The lands on June 30, ’98, not yet sold ere r
l ease of the Wisconsin Central am f ownership of the Chicago & N .P
Acres.
Acres.
(now Chicago Terminal Transfer), but this was relinquished by the re
.................
93,703
Oregon..........................
North
Dakota
(west of
ceivers Sept. 25.1893, and permanently abandoned in toe reorganize
6,046
Missouri River)........ KI
Of 1896 V. 64, p. 1224. The Chicago lines are the only part of
Total west of Mo. Riv.24,330,t 60
toe system not included in the reorganization. On Feb. 1» 1898, the Montana....................... 1ft>238,479 Minnesota......................
134,936Idaho..............................
1,806,905
w p k t assumed control of the Seattle <fc International and m July,
1898* o f toe Washington Central under a 999 years lease, and in Washington................. 8,185,627
Total unsold acreage. 24,465,696*
Fohruarv 1898, purchased the entire capital stock and all of the
As to land grant Dec. 1,1896, see also V. 63, p. 1070; V. 64, p. 83.
income bonds of toe Washington & Columbia River Ry.
J a n u a r y , 1899. |
.RAILROAD
STOCKS
A i s \D
liOJNDS.
109
I lo
INVESTORS’
SU PPLEMENT
[Y o l.
LXVIII.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d i n tb e s e T a b le s .
bonus—r'r .kCI
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
Par
of
Where Payable, and by Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
North A West Branch Ry.—Stock...............................
1st mortgage, $1,500,000......................................
Northwestern Coal Ry.—1st M„ $2,000,000, g ...c*
Northern Pac. Ter. Co.—IstM ., gold, red., at 1 1 0 ...c*
Northern Railway (Cal.)—See Southern Pacific
Norwich A Worcester—Pref. stock, 8 p. c. rental___
Bonds (not M.),int. gu. under lease, curr’cy...c<fcr
Oconee A Western—1st M., $9,000 p. m., gold..........
Ogden Mine RR.—Stock (5 p.c.rent.Cen. of N. J .)...
Ogdensburg A Lake Champlain—Stock.....................
1st M, $4,400,000, g., to be guar, by Rutland.Ce
r’r‘
‘
66
48
40
10
Í27
1881
1893
1883
$50
1,000
1,000
1,000
1897
1893
100
1,000
1,000
100
1898
G eneral F inances.—The fixed annual charges of the new company
are $6,018,672 (as on July 1,1898), a reduction o f $4,857,018, as com
pared with the old company. The company owned $2,391,050 (par
value) o f Oregon RR. & Navigation preferred stock June 30,1898.
The $1,755,000 Missouri Div. 6s (due May 1,1919) were paid off at
par Nov. 1,1897, prior lien 4s being issued to provide for them. The
exchange o f old general first mortgage 6s into new prior lien 4s has
made rapid progress, over three-fourths of old loan having been retired
prior to Jan. 1,1899. (V. 66, p. 337.) Prior lien bonds for $1,500,000
were issued for improvements in February, 1898. (V. 66, p. 338.)
In February, 1898, the N. P. Ry. assumed control of the Seattle &
International and also purchased control of the Wash. & Col. R. Ry.,
including its $2,245,000 of income bonds. The outstanding $2,500,000
o f the W. & C. R. Ry. 4s are not to be guaranteed.
In 1898 the entire capital stock of the Washington Central (which
see), was acquired, and the property leased to the N. P. at a rental
sufficient to meet the interest charge on $1,538,000 gold 4s, $286,000
■of which are owned by the N. P .—V. 66, p. 856.
A fund of $3,000,000 to assure dividends on preferred stock till 1902
was set aside in 1898. See V. 67, p. 579. The annual report for 1897D8 (V. 67, p. 588,) says: “ The Board of Directors has directed to be
set aside out o f surplus income $3,000.000 as a re- erve to be available,
as may be found necessary, until the end of 1901, toward maintaining
regular 1 per cent quarterly dividends on the preferred stock of the
•company, if, at any time prior to that date, thq current net earnings
shall prove insufficient for that purpose. So far as not so used by
that date, the fund may then, by vote of the directors, be returned to
the general fnnds of the company. In view of the comparatively
brief period that has elapsed since the organization of your company,
*md also in view of the fací that the favorable results of the fiscal year
lust closed must in prudence be regarded as exceptional, the Board
has been led to adopt this conservative policy, which, no doubt, will
commend itself to all who are interested in the company. Of course
this reserve fund need not be drawn upon if current available earn
ings shall continue as at present. It may be added that the business
prospects of the Company were never better than now.”
E arnings—5 m os.> 1898............. Gross, $12,777,468; net, $7,452,914
July 1 to Nov. 30. > 1897............. Gross, 11,604,999; net, 6,534,259
Total net income for the five months, after deducting operating
charges, taxes, rentals and improvements and adding other income (ex
clusive of land sales), $6,617,784, against $6,224,199 in 1896-97.
A nnual R eport .—Report for 1397-93 in full in V. 67, p. 588, See
also editorial, p. 556. First report of reorganized company, for ten
months ending June 30,1897, in full in V. 65, p. 680. 8ee also p. 650.
12 months, 10 months, 12 months, 12 months,
Trs. ending June30. 1897-8.
1896-7.
1895-6.
1894-5.
Passenger earnings. $4,853,799 $2,850,399 $4,658,642 $3,350,492
Freight earnings___ 17,432,75» 11,085,883 15,119,312 13,210,699
Mail, express, & c.... 1,393,164
1,005,536
85,205
873,790
G-ossearnings..$23,679,718 $14,941,818 $19,863,160 $17,434,981
Net earnings............$12,584,347 $5,785,946 $7,775,071 $6,115,299
T axes.......................
$682,800
$428,981
$509,708
$501,716
Rentals, etc.......
............
............
163,160
257,328
A d ’ns and imp’ts..
811,709
..........
.....
............
Netoperat’gincom e.$ll,089,838 $5,356,965 $7,102,203 $5,356,254
Miscellaneo’ s income
not incl.land sales.
887,190
255,341
425,710
301,229
Bal. for interest.......$11,977,034 $5,612,306 $7,527,913 $5,657,483
In terest.................... 6,079,160
5,110,248
..................................
Div. on pref stock (4%)3,000,000
............
............
............
O ld accounts............
............
12,229
............
............
Bal., sur.for year $2,897,874
$489,828
Officers (Sept. 1, 1897).—President, Charles S. Mellen, St. Paul,
Minn.; Vice-president, Dan. S. Lamont, New York; Comptroller, Henry
A . Gray, St. Paul; Secretary and Assistant Treasurer, George H. Earl,
New Y ork; Treasurer, C. A. Clark, St. Paul; Chief Engineer, E.H .
McHenry; General Manager, J. W. Kendrick, St. Paul; General Counsel,
Francis L. Stetson, New York, and Charles W. Bunn, St. Paul. The
main offices are located at St. Paul. New York office, 35 Wall St.—(V.
<67, p. 4 7 7 , 483, 5 2 7 , 6 7 6 , 5 7 9 ,5 8 8 , 634,690,1055,1056,1110,
1161,1264,1357; V. 68, p. 86.
N o r t h & W e s t B r a n c h B y . —Catawissato Wilkesbarre, Pa., 43
miles; branch, 5 miles. Chartered in 1881 and operated by the Penn
sylvania RR. under agreement of 1881, to expire Sept. 1,1901, net
earnings to be paid this company. Pennsylvania RR. Dec. 31,1897,
ow ned $925,000 of the stock and $1,400,000 of the bonds. Dividends
since Deo., 1885. 6 p o. per annum. Extra dividends: I n ’ 93, 2 p. c.;
i n ’94, 2 p. c.; in ’95, 3 p. c.; in ’96, 2 p. c.; in ’ 97, 2 p. o.; in ’98, 2 p. o.
N o r t h w e s t e r n C o a l R y . — Allou z Bay, Wis., to St. Louis River
a t Minnesota State line, 13 miles. Chartered in 1892. Capital stock,
$1*000,000. Mortgage trustee is Farmers’ Loan & Trust Co., New York.
For year ending June 30, 1898, gross, $38,110; net, $9,818; miscel.
receipts (rents and dock earnings), $33,321; int. and taxes, $47,243;
balance, deficit for year, $4,103. In 1896-97, gross, $35,590.
$1,500,000 8 in ’98
1.500.000
6
944.000
5 g.
3.871.000
6 g.
2,769,200
955.000
360.000
450.000
2.800.000
3,500,000
8
4
5
M.
M.
M.
J.
&
&
&
&
N. Phila., Broad St. Stat’n
S.
do
do
N. N.Y., Farm’s L. & T. Co.
J. N.Y.Winsl’w,Lan’r&Co.
Q .-J .
M. & S.
M. & S.
J. & J.
4- g. J. & J.
Boston, Second Nat. Bk.
Boston, N. E. Trust Co.
Interest pd. as earned.
Phila., 60s Chest cut St.
Nov. 1 ,’98,4%
Sept. 1. 1901
May 1, 1923
Jan. 1. 1933
Jan.1,’99,2%
Mch. 1, 1927
Mch. 1, 1923
July, ’9 8 ,212%
Jan. 1, 1949
N o r th e r n P a c ific T e r m in a l C o m p a n y , o f O r e g o n .— Owns
terminals on the Willamette River, Ore., at Portland, East Portland and
Albina, comprising lands 270 acres, traokage 32 miles, dook frontage
7,904 feet. Grand Central Station at Portland, Ore., opened Feb., 1896
L ease.—Leased for fifty years from Jan. 1,1883, jointly and severally
to Northern Pacific, Oregon Ry. & Navigation and Oregon & California,
with guaranteed rental to pay interest, sinking fund and taxes.
The foreclosure sales in bankruptcy of the Northern Paclfio and
Oregon Navigation companies terminated their joint and several
obligations, which their successor companies did not assume until
about June, 1898—V. 66, p. 1141. Great Northern Ry. Co. in August,
1894, arranged with Oregon Ry. & Navigation Co. to run joint trains
into Portland.
Stock .—Stock ($3,000,000) owned by said three companies (40p .o.)
b v Oregon Ry. & Nav. Co., 40 per cent by No. Pacific and 20 per cent by
Oregon Sc Cal. RR.), and held by Central Trust Co. of New York, to be
delivered after payments to the sink, fund, which is to cancel the bonds
Bonds.—The first mortgage is for $5,000,000. The sinking fund is to
retire the bonds by maturitv. bonrU heing drawn at 110 and interest.
To Feb., 1898, $4,097,000 firsts had been issued, of which $203,000
had been retired by sinking fund.—(V. 66, p. 83; V. 67, p. 530; V. 68,
p. 130.)
N o r th e r n R a i l w a y C o , (C a l.).—See Southern P acific RR.
N o r w ic h Sc W o r c e s t e r R R . — Owns from Norwioh, Conn., to
Worcester, Mass., 59 miles; branch, Norwich to Allyn’s Point, 7 miles;
total, 66 miles. Also owns entire capital stock ($500,000) of the N or
wich & New York Transp. Co., operating boat line to N. Y. City. Leased
to New England RR. for 99 years from Feb. 1,1869; rental is 8 per cent
on preferred stock; lease was modified from January 1, 1897. See V.
64, p. 664; V. 65, p. 726. Extension from Allyn’ s Point to Groton, 6
miles, under construction, and track-laying reported to be begun in
October, 1898.
B onds.—Bonds of 1897 (not mortgage) for $675,000 were issued in
March to redeem the $400,000 6s due Mar. 1, 1897, and for floating
debt, and in July $280,000 to pay for N. & N. Y. Transp. Co.’ s floating
debt. (V. 65, p. 27,112, 363, 726.)
N y p a n o R R . —Road rom Salamanoa, N. Y., to Dayton, O., 388
miles; branches—to Oil City, 34 miles; other branohes, 9 miles; tota l
owned, 431 miles. Leased lines—Cleveland & Mahoning Valley R R .,
124 miles; Sharon Railway, 16 miles; New Castle & Shenango Valley,
17 miles; Youngstown & Austintown Ry., 10 miles; Westerman R R .;
2 miles; total leased, 169 m iles; total operated, 600 miles.
A reorganization of the New York Pennsylvania & Ohio, sold in fore
closure Feb. 25,1896. Under the Erie reorganization plan the Erie
acquired title to the Nypano and assumed the prior lien indebtedness,
equipment trusts, etc. The new stock and bonds are owned by the
Erie RR. and Erie securities were given in exchange for the old
junior bonds and stock. A bondholders’ trust has been formed to re
ceive interest and dividends accruing on the Erie securities, and dis
tribute them ratably among the old first mortgage bondholders. (V.
61, p. 472; V. 62, p. 457, 549, 909; V. 63, p. szg; V. 67, p. 223.)
O c o n e e Sc W e s t e r n R R . —Hawkinsville to Dublin, Ga., 40 miles.
Graded Hawkinsville to Grovania, 13 miles. In January, 1899, the
Wrightsville & Teanille RR confirmed the purchase of this road and
decided to increase its own capital stock to $300.0 0, presumably in
connection with this purchase. Practically all of the $360,000
Oconee & Western bonds were acquired at a price t •yield the holders
$450 per bond. Stock authorized, $477,000; outstanding, $360,000;
par $100. Mortgage for $477,000. Trustee, Mercantile Trust Co.
Year ending Dec 31,1897, gross, $37,746; net, $4,453. President, A.
F. Daley; Treas., E. J. Henry; Sec., W. N. Parsons.—(V. 67, p. 902.)
O g d e n m in e R R . —Owns Nolan’s Point (Lake Hopateong) to
Sparta (or Ogden Mine), N. J., 10 miles. Leased for 999 years from
Jan. 1,1882, to Central RR. of N. J. for 5 p. c. per annum on capital
stock and $500 yearly for organization expenses.
O g d e n s b u r g Sc L a k e C h a m p la in R y . —Owns from Rouse’ s
Point, N. Y., to Ogdensburg, N. Y., 118 miles.
Organization .—Successor in Nov., 1898, under plan in V. 63, p.
358, to the O. & L. C. Railroad, sold under foreclosure on May 2, 1893.
In Jan., 1899, the entire stock was purchased by the Rutland RR,
and the 1st 4s (present issue, $3.500,000), guaranteed.
Old 1st consols, received in Jan., 1899,105 per cent of the face o f
the bonds and accrued interest to Feb. 1,189-*, or at the rate of $1,170
for each $ 1,00,0 bond. Holders of certificates for old consols were
also given the option until Jan. 21, 1899, to subscribe, at 1021«, for
new Ogdensburg & Lake Champlain 4s.—V468, p. 86.
B onds.—Of the bonds, $900,000 are reserved for new construction,
E arnings.—3 months, > 1898........... Gross, $201,217; net, $56,060
July 1 to Sept. 30. >1897........... Gross, 201,041; net, 6 0,722
R eport .—F or year ending June 30 earnings were:
Tear,
9ross.
Net.
Other ine. Int.,taxes,etc. Balance
1897-8....$698,863
$153,750
$8,315
$32,716
$129,349
1896-7.... 773,902
216,888
1,122
33,172 sur. 184,938
—(V. 66,p . 427,472, 574, 901,1046,1141; V. 67, p. 530, 9 5 1 , 1056,
1110,1161; V. 68, p. 4 1 ,8 6 ,1 3 1 )
Jakuary,
1899.J
HAILROAD
STOCKS
AND
BONDS.
Ill
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g Im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
RAILROADS.
Bond*—Princi
INTEREST OR DIVIDENDS.
MUes Date Size, or
pal, When Due.
Amount Rate per When
For explanation of oolumn headings, Ac., see notes of
of
Par Outstanding
Where
Payable,
and
by
St-oeks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Ohio A Mississippi—See B alt . & Ohio Southwest .
Ohio River—1st m. [$2,000,000], $12,000 p.m.,g.e* 169
Gen. M. (for $3,000,000), gold,1st on 3 9 miles..c* 208
Ravensw. Sp. A Glen. 1stM.,gold,gu.,p.Ai.(end.)e*
33
Huntington & Big S. 1st M. ($400,000), gold, gu. c*
12
Ripley & Mill Creek IstM. g., guar. p. &i., end ,o*<fcr
13
Ohio Southern—Receivers’ certificates, gold............
1st mort., $4,000,000 ($15,000p. m.) gold..Ce.o* . . . .
Receivers’ certificates..............................................
General (2d) mortgage, (for $2,800,000), g . . Ce.c’' . . . . '
Consol. (3d) mortgage, $8,000,000. gold...............
Car trusts Deo., 1897 ($319,000 are 6s)................
Old Colony—Stock, 7 p. e., guaranteed by rental.c*
Bonds for Framingham A Lowell bonds.............. c
Bonds not mortgage.................................................r
Bonds, not mortgage................................................
Bonds (authorized $3,000,000), gold................ o*r
Bonds.................................................................... cAr
Boston Clin. F. A N. B. mort., int. guar, by rental.c 125
Old Colony Steamboat bonds, gold (not mort.).c*
Plymouth & Middleboro 1st M., int. guar. (end. ).o*
15
Omaha Bridge &Terminal Ry.—1st MT($5,000,000)
Omaha K. 0. A Eastern—Stock ($1,500,000 auth.).
36
1st mortgage (see text), gold...............................c*
Second (income) mort., $15,000 per mile, gold ..r
Omaha A St. L. tilt.—1st M., g., sub), to call at par. 145
Oregon A Ocd.—lstM.,g.dr’natiOO gu.p.Ai.(end).c* 596
1886 <$1,000
1887
1,000
1890
1,000
1892
ljOOO
1888
1897
1,000
1881
ljooo
$ 2,000,000
5 S’
2.874.000
5 S’
341.000
6 g.
291.000
6 g.
50.000
6 g.
471.000
6 g.
3.924.000
6 g67.000
1889
1,000
2.798.000
i g*
1894
See text.
1895
757,607
s ll100 16,608,900
7
1884
1,000
498.000
4k!
1884
1,000
750.000
4
1888
1,000
4.000.
000 4
1894 l.OOO&o 3.000.
000
1895 l.OOO&o 5.100.000
Í *
1880
1,000
1.912.000
5
1893
600.000
1892
225.000
I "
1893
(I)
100
1.428.000
1896
1,000
816.000
1897 100 Ac.
612,000
i g1896
2.376.000
4 g.
1887
1,000 19,625,000
5 g.
J. & D. N.Y., Central Tr. Co.
A. A O.
do
do
F. & A.
do
do
J. A J. New York or Phila.
F. A A. Phila., E. W.Clark A Co.
F.AA.15
J. & D. June, ’96, pd. Sept., ’96
June 1,
Apr. 1,
Aug. 1,
July 1,
Aug. J.,
1936
1937
1920
1922
1908
June 1, 1921
M. A N. May,’95,coup, last paid. May 1, 1921
1944
See text
1898-1905
Q.—J.
Boston, Office,
J’n. 2,’99,1%%
A. A O.
do
Apr. 1, 1904
J. A J.
do
July 1, 1904
J. A J.
do
Jan. 1, 1938
F. A A.
do
Feb. 1, 1924
J. A D.
do
Deo. 1, 1925
J. A J. Boston, N. E. Trust Co. Jan. 1, 1910
J. A D.
Boston, Office.
Deo. 1, 1903
J. A J.
Boston.
Jan. 1, 1912
M. A
Oct.
J. A
J. A
S. N. Y.. Gilman, Son A Co.
1 Int. payb. only if earn’d
J.
New York.
J. N. Y., South Paciflo Co.
Sept.
Oct.
July
July
1,
1,
1,
1,
1926
1926
1901
1927
O h io R i v e r I t I t . —R oad .—Owns from Benwood, West Va., to Hunt
F loating D ebt.—Loans and bills payable June 30, 1898. were
ington, West Va., 209 miles; trackage into Wheeling, 4 miles; leases $737,000, against $1,019,000 in 1897.
Huntington A Big Sandy Railroad (opened early in 1893), Huntington
D
ividends since 1881—In 1882, 6^3; 1883 to July, 1891, both in
to Kenova, West Va., on the Norfolk A Western’s new line, 11 mOea ;
total included in earnings, 224 miles; operates Ravenswood Spencer elusive, at the rate of 7 per cent yearly; in December, 1891 (dividends
A Glen rille Ry.( Ravens wood to Spencer, 33 m.; Ripley & Mill Creek changed to quarterly), 2910 per oent; in 1892,7; in 1893, March. 1%
per oent; June, 2^3; thereafter 1% per oent quarterly under the lease.
Valley, 13 m.; total, 270 miles.
Stock .—A uthorized, $6,000,000; outstanding, $5,915,430; par, $100.
R eport —Operations since July 1, 1893, are included in N. Y. N. H. A
B onds.—Trustee of the first and the general mortgage is the Fidelity H. report, but the company’s statement of improvements for the year
Ins. Tr. A Safe Dep. Co. of Phila. The R. S. A G. mortgage is for $400,- ending June 30,1897, with general balanoe sheet, was given in V.
000. December 31,1897, there were bills payable, $172,000, and in 65, p. 565.—(V. 64, p. 42, 234, 664; V. 65, p. 463, 5 6 5 .)
treasury were $234,550 of bonds issued.
O m a h a B r id g e <fc T e r m i n a l R y . — This company owns and oper
Baknings.—On 224 miles, > 1898....G ross, $882,247; net, $307,653 ates a double track steel railway bridge across the Missouri River b e
Jan. 1 to Nov. 30 (11 months.) J 1897__ Gross, 885,664; net, 319,632 tween the the cities of Omaha, Neb., and Council Bluffs, la. Also a
A nnual R eport .—Fiscal year ends Deo. 31. Report for 1897, with line of railway between Omaha, South Omaha and East Omaha, Neb.,
and Council Bluffs, la., and provides extensive terminal facilities fo r
balance sheet, was in V. 66, p. 1041 showing on 224 miles:
freight and passenger traffic in each of the above-mentioned cities. In
Year—
Gross. Op. ex. A taxes. Net.
Int., etc.
Balance. Nov., 1897, hadin operation 39 miles of track and large extensions pro
1897.............. $965,197 $650,142 $315,055 $288,558 sur.$26,497 jected. In Dec., 1898, permission to extend its lines in Omaha was
1896............... 970,023 669,930
300,093
278,380 sur. 21,713 reported to Irei granted. It has connections with all the leading rail
1895............... 887,271 597,110
290,161
270,628 sur. 19,533 roads reaching Omaha. Mortgage of 1893 covers the bridge at Omaha
Ravenswood Spencer <fc Glenville gross for 1897, $42,049; deficit and the lands and other property. A union station is projected at
under oper. charges, $9,508. Ripley A Mill Creek Valley gross, 1897, Omaha. In year ending June 30, 1897, gross, $23,270; deficit under
$16,173; deficit under charges, $3,819—(V. 66, p. 1 0 4 1 .)
operating, $88; total deductions, $569; total deficit, $647. President,
O h io R i v e r dc C h a r le s t o n R y . - S e e So. Car. A Ga. 13xten. RR. John Lowber Welsh, Philadelphia.—(V. 63, p. 969.)
O m a h a K a n s a s C it y A E a s t e r n R R . — (See Map Kansas
O h io S o u th e r n R R . — Owned Springfield,O., to Wellston, 118 miles
and branches, 80 miles ; extension from Springfield to r.ima., 68 miles Oity A Northern Connecting.) —Owns road completed in June,
(completed in Dec., 1893) ; total, 266 miles. See V. 61, p. 925. Traffic 1897, from Pattonsburg, Mo., to Trenton, Mo., 36 miles, connect
ing the Quincy Omaha A K. 0. (135 miles) and the Omaha * St.
principally bituminous coal.
Louis (145 miles), whioh roads will ultimately be consolidated with the
Stock , E tc.—Stock outstanding, $3,840,000; par $100.
O. K. 0. A E., as will also the K. O. A Northern Connecting Ry., 72
R eceivership —Default —Sale .—Receivers appointed May 9,1895. miles—see V. 63, p. 190. The Q. O. & K. C. is leased and has been
are
Matthews and F. P. Graf (latter appointed Sept. operated since early in July, 1897. Omaha A St. Louis is also operated
18,1896, m place of J. R. Megrue. V. 61, p.325. First mortgage (since July 29,1897). These roads form in connection with the K. O.
coupons due June 1, 1896, were paid in Sept., ’ 96. December, ’ 96, Pittsburg A Gulf a new through line to the Gulf of Mexico.
interest on firsts was not paid. Sold on Oct. 15,1898, to the first
B onds.—The O. K. C. & E. first mortgage is for $14,000,000; bonds
mortgage committee for $2,000,000, and it was announced no plan are to be issued at $20,000 per mile on road built with additional
wouid be issued at present. (V. 67, p. 74, 372, 843.) Sale was con amounts for terminals, equipment and bridge over Mississippi River,
firmed in Dec., 1898, but order not entered (V. 67, p. 1208.)
if built. Second mortgage of 1897 is limited to $11,000,000, interest
Committees.—First Mortgage: Chairman, W. A. Read of Vermilye & up to 5 p. o., payable only if earned and non cumulative; Atlantio
Co., Simon Borg, Henry Sanford, Edwin S. Hooley and Thomas Denny. Trust Co., N. Y., and William A. Rule, trustees. Ia 1893, Jan. 1 to
General Mortgage: John I. Waterbury, President'M anhattan Trust Mar. 14 (2*9 months), gross earnings were $158,554. against $114,754
Company, No. 1 Nassau Street, New York, James D. Smith, Chair- in 1897. President, A. E. Stilwell, Kansas City; Gen. Man., Robert
I?a5 r,?0‘ ^2 Broad Street, N. Y., Jules S. Baohe, Rush C. Hawkins, W. Gillham.—V. 64, p. 84, 954,1225; V. 65, p. 195,1024.
G. Wiley and E. L. Oppenheim; depositary, Manhattan Trust Co., N.
O m a h a & S t. L o u is R R . — Owns Council Bluffs, la. to Pattons
Y r~7' P1’ £ ; a^, 1065 ; Y. 62, p. 139, 320. To Oct. 20,1898, trust re- burg, Mo.. 145 m. Operated since July 29,1897, by Omaha, K. 0. A East.
oeipts for $1,417,000 deposited general mortgage bonds had been
H
istory , E tc .—Successor in June, 1896 (per plan V. 62, p. 41,1177)
listed on the New York Stoek Exchange.
of the Omaha & St. Louis Railway, sold in foreclosure Jan. 27. The
B onds.—Of the consols only $300,000 have been executed; they are new company is to exist until consolidation with Quincy Omaha A K .
held as collateral for car trusts. Car trusts mature about $150,000 O. is effected. The consolidated company will be operated in close
monthly instalments. In December, 1895, floating debt was connection with the K. C. Pitts. & Gulf and necessary extensions and
$326,000; in April, 1896, generals for $287.000 were issued. In connections built.—See K. O. & Northern Connecting Ry.; V. 64, p. 84.
April, 1898, both the 1st and 2d mortgages were held to be a lien on
N ew Securities .—Capital stook, $2,592,000, represented by Guar
the entire road, including the extensions. (V. 66, p. 901.)
anty Trust Co. certificates (for stock in trust); the $692,000 stook is
1 to Deo- 31,12 months, gross, $719,044 In 1898; sued to old bondholders is exchangeable into 2d mortgage incomes if
$729,172 111 1897.
the first 4s o f 1896 are paid off before maturity see V. 65, p. 1024;
A nnual R eport .—Fiscal year ends June 30. Statement for 1896-7 for bonds see table above. Under the reorganization plan of Deo. 18,
1895 (V.62, p. 41), the old firsts and seconds received 75 p. o. in the
was in V. 65, p. 727. Charges in 1895-6 are approximate.
,
_
Gross.
Net.
Int. A taxes. Rentals,ete. Balance. new 4s and 25 p. o. in new stoek and $12*50 (per $1,000 bond) as
1896-7................$636,523 $164,272 $350,903 $115,996 def.$302,627 distributive share of net earnings to July 1,1896. The new bonds are
1835-6............... 813,780 295,361
368,120
(?) def.72,759 subieot to redemption at par. (V. 64, p. 42; V «5, p. 27, 195.)
1894-5................ 784,730 358,601
354,095
16,133 def. 11,627
E arnings.—Year ending June 30, 1897: total receipts, $326,566,
R eceivers ’ Certificates .—Certificates of July, 1895, were issued against $317,384 in 1895-96, and $290,931 in 1894-95. (V. 65, p.
’ v
to pay first mortgage coupons due June 1, 1895, their lien is 1024.)
ilr8ts* V. 61, p. 152, 367. Additional certificates
O r e g o n Sc C a lifo r n ia R R . — From Portland, Ore., to California
loiv$oo5.000, haying a lien nrior to the hrst mortgage, were sold in State une, 367 m iles; Albany Juno, to Lebanon, 12 miles; Portland to
>1837, to provide for overdue ear trusts, labor claims, etc. Corvallis, 97 miles; Woodburn to Natron, 93 miles; purchased in 1893
and in Oct., ’97, $106,000 more were issued. V. 64, p. 374, 424.
Oregonian RR. and Portland A Yamhill RR.; Portland, Ore., to Airlee.
—(V. 65, p. 152, 7 2 7 ; V. 66, p. 901,1002; V. 67, p. 74, 223,372,1208.) Ore., and branch, 85 miles. Total, 654 miles.
O h io v a lle y .- S o ld July 13, 1897, to Illinois Central.—(V. 65, p.
L ease , E tc.—Leased to Southern Pacific Co. for 34 years from August
* 7 f o9, 1X1.)
1,1893, the lessee guaranteeing interest on the bonds, and the lessor
. Old. C o lo n y R R . (M a ss .)— Owns road from Boston to Province- receiving any net profit and being charged with any deficit after pay
town, Mass., Newport, R. I., etc., 508 miles; leases, 108 miles; total ment of oharges. Betterments are payable by lessor. Pacific Improve
operated. 616 miles. See Supplement of September, 1894. Will use ment Co. owns the bulk o f its $19,000,000 stook, $12,000,000 oT which
is 7 p. o. pref.; par is $100. Due So. Pao. Co. Jan 1,1896, $1,687,394,
the new Union Station in Boston when completed.—(V. 62, p. 547.)
against $655.580 In 1895. So. Pao. guarantees the bonds g. A i. by en
Lease .—In 1893 leased to the New York New Haven A Hartford dorsement
on each.
for 99 years. About $5,000,000 of the stook, included in table above,
B onds.—Land grant was about 4,000,000 acres, part o f which is
was exchanged for New Haven stock, and is held by that company
The lease provides for dividends o f 7 p. c. per annum on stock not oovered by the mortgage, proceeds of land, sales going to redeem bonds
exchanged. See V. 56, p. 247, 374.
drawn at par, unless purchasable lower. Trustee of mortgage, Union
Trust Company, New York. The Southern Pacific guaranty of princi
Stock, E tc.—Stock outstanding June 30,1898, was $16,608,900. A
pal and interest is printed on each of the 5 per cents. In 1895 net land
increase o f stock from $12,000,000 to $15,000,000 was authorized i
sales
subject to mort. were 6,608 acres for $23,878—See V. 63, p. 754.
» o v ., 1889, and a further issue of $2,000,000 to raise the grade <
Earnings.—Year ending Deo. 31, L896, gross, $1,441,127; net, $168,Boston A Providence track for four miles, and $3,000,000 for te:
731; interest oharges, $955,028; balance, deficit for year, $786,297.
/ mProy®iBGuts In Boston have been authorized, making tot«
In 1895 gross, $1,603,438, In 1894 gross, $1,707,175.—(V. 63, p. 754.
authorized $20,000,000. None of the Old Colony bonds are secured b
mortgage.
O r e g o n C e n t r a l & E a s t e r n R R . —See Corvallis A E astern.)
l i ‘2
INVESTORS’ SUPPLEMENT.
LVOL. LXYIIIi
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d i n tlie s e T a b le s .
Bonds—Prinoi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
¡For explanation of column headings, &c., see notes of
Outstanding
Whom.
Dividend.
Payable
Cent.
Road. Bonds Value.
on first page of tables.
Oregon Improvement—See Miscellaneous Compan IES.
O regon l i l t . & N avigation —
Common stock voting trust certificates................
Pref. stock, 4 per cent, non-cum., vot. tr. cert...
Or. Ry.& Nav., 1st M. bonds, g.,s. f., dr’n at 100.c 643
Oonsol. mortgage, $24,500,000, gold................. o* 1,063
O regon Short B in e H it.—
Common stook, $27,460,100..................................
Or. Sh.L. 1 stM., p. & i., gold—see V.63, p.602...o* 600
Utah & North’n 1st mort., $12,000 per mile---- o* 477
Consol. M., gu., $15,000 p. m., s. f. not dr,n,g.o’ 477
Consol. 1st mortgage, $36,500,000, g o ld ......... o’ 1,479
Non-cumulative Income bonds—
Series A, 5 per cents, $7,185,000........................
Series B, 3 per cent for 3 years, $15,000,000. .
35
Oswego <t Syracuse- Stook, 9 p. c. guar., D. L. & W
35
Consolidated mortgage (guar. D. L. & W
35
88
Owensboro & NasHvuler-lst mortgage, gold.......... c’
48
Panam a—Stock............................... - - ------ ■
-48
New 1st M.,$4,000,000, s.f.,g,red. 1903,at 105.c’
Subsidy bonds.,g., drawn at 100. SeeV.64,p.705.o
1879
1896
N.Y. Cent.Tr. & Boston.
$100 $24,000,000
do
do
100 11,000,000 4% in ’98 J. <& J.
See text.
1,000
6 g. J. & J. N. Y ., Sec. & Trust Co.
New
York
&
Germany.
J.
&
D.
1,000 19.034.000
4 g.
100 27,460,100
1,000 14.931.000
1882
1,000
4,993,000
1878
1,802,000
1,000
1886
1897 50Ó &c. 10,337,000
6 g. F. & A. N.Y., Guar.Tr.&Boston.
do
do
7
J. & J.
do
do
5 g. J. & J.
do
do
J.
&
J.
5 g.
7,185,000 5 p. o. in Sept.’98
1897 500 &o.
3-4
Öot.
1897 500 &c. 14,841,000
9
F.-A..2C
50
1,320,400
M. & S.
438,000
7
1,000
1876
M. & N.
668,000
5
1,000
1883
1,000
2,000,000
1881
6 g. M. & N.
100
7,000,000
1,859,000
1,000
1897
4 ^ g. A. & O.
1,000
1,611,000
1880
6 g. M. & N.
N.Y.& Bost.,when earn.
3 p. o. paid Oct. 1, ’98.
N. Y., Del. L. & W. RR,
do
do
N. Y., Farm. L. & Tr. Co.
■si Y., 120 Broadway.
N. Y., 29 Broadway,
do
do
July 2, ’ 9 8 ,1%
Jan. 3 , ’99,2%
July 1, 1909
June 1, 1946
Feb.
July
July
July
1,
1,
1.
1,
1922
1908
1926
1946
July 1, 1946
July 1, 1946
Aug. 20,1898
Moh. 1, 1907
May, 1923
Nov. 1, 1931
Jan. 3, 1893
Oct. 1. 1917
Nov. 1, 1910
O r e g o n I m p r o v e m e n t .— See P acific Coast Co. (Miscel. Co’es). i Capital Stock .—Stock authorized $27,460,100, of which new Union
Ry. Co. will own a large block—see above. A majority o f the
O r e g o n R a i l r o a d & N a v ig a t io n Co.-*Road East Portland, |Paoflo
stock (or $14,370,000) under the plan went to the old bondhold
Ore., to Huntington, Ore., 403 miles; branches 660; leases 2 miles; new
ers.
The
stock paid an assessment of 12 per oent and received 56
total, 1,065 miles; river division water lines, 353 miles, of which 19 per cent inold
common and 12 p. o. in bonds. The U. P. stockholders
narrow gauge. Ocean line to San Francisco, 660 miles. V. 63, p. 969 voted Jan. new
10,1899, to issue common stock, dollar for dollar, in e x
Organization .—Organized in July, 1896, per p la n in V. 61, p. 325 change for Oregon Short Line stock. V. 67, p. 1161, 1209; Y. 68, p.
*n dV . 6 2 ,p. 4 1 ,and Aug. 17 succeeded to the property and franchises of 87. A large interest in the stook has been held by U. P. interest since
the old Oregon Ry. & Navigation Co. sold in foreclosure under the 1897. (V. 66, p. 1102.)
consolidated mortgage July 9 and of the branch lines sold July 10 and
B onds .—Of the $36,500,000 new first consols, $24,162,000 are r e
July 13. V. 63. p. 76.116. Old stock paid assessment o f 6 p. o. See served to retire at maturity the loans not disturbed and $2,001,000 are
also V. 63, p. 311. The Oregon Short Line owns $16,281,400 (a major reserved for future use, the balance being issued at once. These bonds
ity) o f the common stock of the Oregon RR. & Navigation Co. The are a first lien on about 400 miles.
Northern Pacific owns $2,391,050 preferred stock; the Northern
Series A incomes are non-cumulative and entitled to dividends o f 5
Pacific, Great Northern and Union Pacific having acquired a controlling per cent per annum; tin September, 1897, 4 p. c. was paid on account
Interest in the preferred. See V. 64, p. 288; V. 65, p. 572.
of coupon No. 1, and in Sept., 1898. the full 5 per cent (interest being
V oting T rust.—The Central Trust Co., as trustee, is to hold the payable yearly) at Guaranty Trust Co., N. Y. or Old Colony Trust.
voting power on all stock till Aug. 17,1906, unless the trust be sooner Boston.—V. 65, p. 412. In Oct., 1898, 3 per cent was also paid on the
terminated by the consent of holders of two-thirds of eaoh class of Series B incomes —V. 67, p. 372.
The O. R. & N. stock is placed in trust as special security for
certificates, or until dividends aggregating 20 per cent of the par
value of the preferred stock shall have been paid or shall have been the Series B incomes, but dividends thereon are to go to the Short Line
fully guaranteed at rate equal to not less than 4 per ct. per annum. company except as needed to pay to Series B their full interest. The
The trust insures to the preferred stook certificates (of which $9,- Series B bonds will receive from earnings if earned only 3 p. c. inter
289,750 went to holders of old consols and collateral trust bonds) the est annually for first three years (but any dividend on O. R. R. & N.
right to nominate ten directors and to the common stock certificates stock shall go toward making up the full 4 p. c.), and then 4 p. e.; they
■the right to nominate five directors. Provisions of voting trust and will be represented by two directors; their consent must be secured to
any lease of the property unless their interest is guaranteed thereby.
preferred certificates were in Supplement April, 1897, page 5.
additional lien shall be placed ahead of Semes A and B without
D ividends .—On preferred first dividend was paid July 1 .1 8 9 7 ,1 No
the
consent of a majority interest.—V. 65, p. 572. The 1 per oent
p. o.; Oct., 1 p. c.; in 1'898, Jan., 1 p. o ; Apr., 1 p. c.; July, 2 p. o.; in dividend
1898, on O. R. & N. common stock yielded an amount
1899, Jan., 2 p. c. Dividend period changed to semi-annual, J&J, in equal to aJuly,
little over 1 p. o. on the “ B” bonds. V. 66, p. 1141.
July, 1898. First dividend, 1 p. c. on common, was paid July 2,1898.
G eneral F inances.—By the reorganization the annual fixed oharges
B onds.—The consolidated mortgage of 1896 (a b s tr a c t Y. 63, p. were
reduced from $2,788,575 to $1,853,770 and the mortgage in
928; trustee, New York Security & Trust Co.) covers all the company’ s debtedness,
new and assumed, to about $25,000 p. m. The new com
property, present and future, embracing 1,063 miies of road.
pany
owns
a majority ($16,281,400) o f the common and $976,900 of the
Of the $24,500,000 new consols authorized, $15,174,000 were issued
stock o f the Oregon Railroad & Navigation Co. The new
o r reserved to be issued in exchange for old consols and collateral preferred
were listed on the N. Y. Stook Exchange in July, 1897—see
trust bonds ; $5,390,000 were reserved for retirement through sink securities
65, p. 69. On list Oct. 21, 1898, w ere: Consol. 5s, $10,337,000 .
in g fund or otherwise of $4,900,000 firsts of 1879, [since re V.
income
As,
$7,185,000; Bs, $14,341,000. As to exchange o f stook U.
duced to present figures] $1,106,000 will be used for betterments, etc.,
and $2,830,000 for the construction, if deemed advisable, of addi P. shares, see a^ove.
tional road to the mouth of the Columbia River or elsewhere at the Latest E arnings—3 mos., 51898...Gross, $1,806,194; net, $852,839
July 1 to Sept. 30.
f 1897...Gross, 1,595,346; net,
627,841
rate of not more than $20,000 per mile of constructed road. See fur
ther particulars in V. 63, p. 969. First mortgage has a sinking fund to
A nnual R eport .—Report for 1897-98 in V. 67, p. 733, show ed:
buy bonds at or below 110, or else draw them at par on January 1.
Year ending June SO—
}^ 7 .
.
$4,604,119
R efunding—In December, 1897, the old first 6s were offered the Freight earnings................................................$4,189,075
1,273,028
privilege o f conversion into new 4s (V. 65, p. 1116, and V. 67, p. Passenger earnings ....... ..................................... 1,064,069
473,103
439,911
372) and to Nov., 1898, over $3,000,000 had accepted, reducing the 1st Mail, express, &c., earnings..............................
6s to about $1,000,000, of which $159,000 was redeemed by the sink
$6,317,058
Gross earnings.............................................$5,726,247
ing fund on Jap. 3,1899. V. 67, p. 1056. The fired charges of $930,480 (Dec., 1897) annually will be reduced on completion of the ex
$2,728,598
Net earnings..................................................$2,246,868
change to $822,850. V. 66, p. 135.
198,984
L atest Earnings.—5 mos. (1 8 9 8 ..Gross, $3,324,949; net, $1,494,326 Other income......................................... -................................
July 1 to Nov. 30.
(1 8 9 7 ..Gross, 3,089,155; net, 1,558,932
$2,927,582
Total net.
R eport .—Report for 1897-8 at length in V. 67, p 685, 692.
Fixed interest and sinking fund....................................... .
$1,964,108
359,250
5 per cent, payable Sept. 1,1898, on “ A ” incomes.
Year end. June 30—
1896.
1897.
1898.
445,230
$4,130,381
$5,992,471 3 per cent, payable Oct. 1,1898, on “ B ” incomes.
(Rail lines.................................... $3,752,944
576,164
547,543
902,922
'Water lin e s ..... ........ .
Balance, surplus................................................................
$158,994
Gross earnings................... $4,329,108
$4,677,924
$6,895,393
Officers , July, 1898.—President, W. D. Cornish; Secretary and
N et earn’gs over exp. & taxes. t$712,622
$1,735,179
$2,785,677 Treasurer, T. K. Cummins, Jr.; C. A. Hubbard, Comptroller. Finan
Paym ents-Interest on bonds..........................................
$865,491 cial Office, Ames Building, Boston.—(V. 87, p. 86.)
154,230
First mortgage sinking funds.......................... .................
O r e g o n S h o r t L in e A U t a h N o r. R y . — See Oregon Short Line.
Depreciation water line equipment.................................
89,350
O s w e g o & S y r a c n s e R R . — Owns from Oswego, N .Y ., to Syracuse,
Discount and interest p a i d ..............................................
616
Dividends (5%) on 4% pref. stook (see V. 66, p. 1141)
550,000 N. Y., 35 miles. Leased in 1869 during length of charter and renewal
Dividends (1%) on common stook....................................
240,000 thereof to the Delaware Lackawanna & Western Railroad Company for
9 per oent per year on $1,320,400 stook and Interest on bonds.
Balance, surplus for year (inol. $77,866 mise, ine.)..
$963,856
O w e n s b o r o & N a s h v ille R y . — Owns from Owensboro, Ky.,to
Adairville, Ky., 84 miles; Mud River Branch, 4 miles. Operated b y
t Extraordinary expenditures included in operating expenses re Louisville & Nashville Railroad, which owns the $1.156,518 stook (par
duced net earnings by ¿334,621.
$100) and $1,200,000 of the first mortgage bonds—all these bonds and
O f f ic e r s .—President Sept., 1897, A. L. M ohler; Secretary and Gen most of the stock being pledged under its trust deeds. Earnings are
eral Attorney, W. W. Cotton; Assist. Sec.; H. C. Traoy, 15 Wall St.,N.Y. now included in those o f the L. & N.
Treas., A. Marcus, 27 William St., N. Y.; As. Treas., G. E. Withington
P a n a m a R R . —R oad —Colon to Panama, 48 m. Completed 1855
Gen. offices, Portland, Ore.—(Y. 67, p. 6 9 2 ; V. 68, p. 41).
In 1898 built from Panama to La Boen, 2 miles.
In December, 1895, an agreement was made with Paoiflo Mail 8. 8.
O r e g o n S h o r t L i n e R R . — (See Map)—Owns Granger, Wyo., to
Huntington Ore., 542 miles; branch to Ketchum, Idaho, 70 m.; Ogden to to run three years, and cover joint traffic between New York and
MoCammon, Idaho, 111 m iles; Pocatello to Silver Bow, Montana, 256 Central America, Mexico and the U. 8. Pacific ooast. This agreement
miiftH; Lehi Junction to Tintio, Utah, 54 miles; Ogden, Utah, to Frisco has, by notice, been extended for two years, when it expires by limita
275 miles; sundry branches, 122 miles (of which 40 miles narrow gauge) tion.—V. 63, p. 76.
total, 1,430 miles. Also owns but leases to the Montana Union Ry.
Dividends — 5 ’ 85 ’ 86-7 ’ 88 ’89 »90 ’ 91 ’ 92 ’ 93 $ None
Silver Bow, Idaho, to Butte, Garrison, Mont., etc., 57 miles.
Sinoe ’ 84 p. ct. ( 10 nil.
23
9
5 5
2 2 ( since
In Sept., 1898, the Utah & Pacific was building, as an eighty-mile
B onds.—The new mortgage of 1897 is for $4,000,000, of which $2,extension, from Milford southwest to the boundary line o f Utah in
Iron Co., of which 40 miles to Sulphur Springs was expected to be 00 j 000 issued to refund the 7s; balance to be issued for other purposes.
completed about January and balance in Aug., 1899.—V. 67, p. 484,733. Trustees, Central Trust Co., N. Y., and Wm. Nelson Cromwell, N. Y.; the
H is t o r y .—Successor March 16,1897, of the Oregon Short Line & sinking fund is $150,000 yearly and bonds may be drawn for s. f. at
Utah Northern Ry., foreclosed and reorganized per p la n of Feb. 20, 105 ; the entire issue may be called for payment on and after April 1,
1903, at 105.—V. 65, p. 516. See also description in Y. 66, p. 1046.
1896, in V. 62, p. 504, 505.
113
BONDS.
AND
STOCKS
RAILROAD
J a n u a r y , 1899.]
AND
C O N N E C T IO N S .
114
Ft.Caspér
MAP OF
* i 9M
1 ,OOQ,OO^^ ^ ^ ^ ^ Ç ^ '
<l'^ ’^^i^^m W Resérvm
_ J^^^pP-rjopuxeaxa
Capacity 2,500,000,00^]M
.
Felix R iusi
O (
SHOWING THE
Hondo R eservoir-N ofk
Under
dev»
Capacity
^j^X^yz/A
J
Y
TH E PECOS V A LLEY
PECOS VAL. & NORTHEAST’N RY.
^1
AND IRRIGATING CANALS
AND T H E LANDS W ATERED BY TH EM .
&
ei
Scale o f Miles
20
O
> i
IN D IC A T E S
IR R IG A T E D
4 0 0 ,0 0 0
BsiPl
INVESTORS’
SEV EN RISERS
LAN DS
ACRES.
Eddy Distrihutinyiiiiÿ
^ -^ ¿R eservoir, Capacity%.
WÆiOOlOOOMOO cu j t . .3
(«¡SiA
mpMed
I
N
^ xL qke Surpfi&jfy
f&Hagerman Reäbrpoir O
Capacity llßuQ,000 eu. f t .
% % ¿/
-x <
SUPPLEMENT.
Jasper
--------------- o ' P
A hf
4Brpokhaven
%
X
PECOS Y A L L E Y & NORTHEAST’»
X
D A V
X
/
X
/
SAILWAT & CONNECTIONS.
[You LXv ia
\
J
anuary,
1898 J
KAIL ROAD
STOCKS
A N
l>
BONDS.
S u b s c r ib e r s w i l l c o n f e r a g r e a t f a v o r b y g i v i n g I m m e d ia te n o t ic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
RAILROADS.
on first page of tables.
Bonds—PrinoiINI
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate perl When
of
of
Par
Where
Payable,
and
by
Stocks—Last
Outstanding
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Paterson dkHud.Riv.—Stk., 8 p.c. rent. N.Y.L.E. AW.
13
$50
$630,000
8
Paterson dkRamapo—Stock (rental g u arantee)___ . . . .
. . . .
298,000
8
Pecos Valley dk Northeastern—1st mortgage, g.Ce.c’1 372 1893
1000
2,790,000
5 g.
Pemigewasset Valley RR.—Stock (rental guarantee) . . . .
.. . .
100
541,500
6
■Pennsylvania H R .—Stock.............................
. . . .
.. . .
50 129,305.000 5 in 1898
568 1867 $ or £
19.997,820
6
568 1875
1,000
1,961,000
6
568 1875
1,000
2,757,000
6
568 1873-4 £200 22.762,020
6
Gold registered bonds........................ r 568 1879
1,000
3,498,000
5 g.
OOgS
568 1879
1,000
1,500,000
5 g.
á H 3 9 Gold coupon bonds.............................. c
Gold
sink, fund, 1 p. c., not drawn..c* 568 1893
1,000
2,970,000
4 g.
! a ® ® ^Sterling
(s. f. in 1900) not drawn.c *<fer 568 1895
£200
4,850,000
3i¿g.
Bonds (P. W. & B. stock as collat.) not draw n...r
1881
1,000
7,702.000
4
Navy Yard mort. (extended 20 years in 1881).. .r
1881
5,000
1,000,000
5
Collateral trust loan, gold, not drawn................ o* . . . ,
1883
1,000
9,900,000
4 1sg.
Equip. Tr. gold bonds (s. f. 5 p.c.) not drawn....o*
1889
1,000
4 g.
2,728,000
Penn. Equip. Trust (in series payable ijo yearly).
’86-91 1,000
887,000
4
Penn. Rolling Stock Trust (1-10 payable yearly). . . . .
1892
1,000
1,870,000
4
Penn. Equip. Trust (in series payable ijo y 'rly)..
1898
2,728,000
3*3
Del. Ave. Market 1st mortgage...... .................. .-.r
1889
5,000
300,000
Delaware Ave. Bloodgood property.................... r
1892
1,000
200,000
Penn. RR. real estate purchase money gold M.c*&r
1893
1,000
2,000,000
4 g.
The subsidy bonds are secured by an assignment and pledge
made by the U. S. o f Colombia to the trustees of $225,000 annually, of
»the annual subsidy or rental to that extent payable to said government
b y the company, and are drawn and paid off on November 1 yearly with
any surplus of the subsidy not needed for interest; $294,000 bonds
•now in treasury. See statement as to subsidy bonds in V. 64, p. 705
A nnual R bpoet .—The report for 1897 in V. 66, p. 706, showed :
Tear
Gross RR.
Net RR.
Net o f
Surplus,
4o Dea.31. Earnings. Earnings. Steamships. Charges. Inel. Other Inc.
1897....... $1,241,942
- -- - $766,534
$87,350 $832,286 sur. $409,875
1806....... 1,201,574
819,176
225,539
846,392 sur. 545,685
1895....... 1,311,634
886,831 def. 333,759
884,934 sur
62,944
The charges above in 1897 include: Lighterage, $105,804; general
expenses, $94,492; other expenses, $147,391; subsidy payment,
¡$250.000: interest on sterling bonds, $186,370.—V. 67, p. 579.
P a te r s o n & H u d s o n K l v e r . — Owns from Weehawken, N. J., to
Paterson, N. J., 13 miles, double track. Leased in perpetuity at $48,400
>er year to Erie RR. (formerly New York Lake Erie A Western), form
ng part o f its main line.
P a te r s o n Sc R a m a p o R R . — Owns from Paterson, N. J., to New
York State Line, 14 miles, double track, part of main line of Erie RR,
«(formerly N. Y. L. E. & w .), to which it was leased Sept. 9, 1852,
during legal existence, at $26.500.
P e c o s V a ll e y . — See P ecos V alley & Noktheastebn R y .
P e c o s V a ll e y & N o r th e a s te r n R y , — (See Map.)—Owns from
Pecos City, Texas, to Amarillo, Texas, 372 miles, of which Roswell to
Am arillo, 208 miles, was completed Jan., 1899.
Successor company to the Pecos Valley Ry. Co. sold in foreclosure
April 19, 1898, and reorganized as per plan (V. 66, p.4 3 8 ). New
•company took possession May 1,1898. The authorized capitalization
is $3,162,000 of first mortgage bonds and the same amount each of
6 per cent non-oumulative preferred and common stock. Stock is all
issued.
The old first mortgage bonds, with October, 1895, and subsequent
coupons, received $1,200 in new preferred stock. The new first mort
gage covers the entire line from Pecos to Amarillo, 372 miles, and
equipment. The bonds are authorized at $8,500 a mile, of which
$1,000 a mile is held by trustee for future requirements, making the
total amount of bonds to be issued at present $2,790,000. Cash to as
sure payment of interest for two years is deposited with Cent. Trust Co.
At Amarillo the road connects with the Atchison Topeka A Santa
F e, and has close relations with that company, but is an independent
¡property.
J. J. Hagerman, Colorado Springs, Col., President. Among the other
Directors are Chas. A. Otis, New York; B. P. Cheney, Boston; E. D.
’K enna, Chicago; Morgan Jones, Fort Worth, Texas.—V. 66. p. 709. 811.
1208.
P e m ig e w a s s e t V a ll e y R R . — Plymouth, N. H., to Lincoln,N. H.,
23 miles. Leased to Boston Concord & Montreal (now Concord &
Montreal) for 6 p. c. on stock. Stock, amount, $2,000.000.
4208.
P e n n s y lv a n i a R R . — (See Map).—The system, as shown on the ad
joining map, extends from New York City, westerly, via Philadelphia
•to Pittsburg, Erie, Cleveland, Toledo, Chicago and Burlington on the
north, and to Washington, Cincinnati, Louisville and St. Louis o n the
south. The total system on Jan. 1, 1808, aggregated 9,024 miles, of
which 2,747 miles represent the mileage operated dire< tty under the
•caption “ the lines east of Pittsburg and Erie’’ and 2,548 miles the
mileage operated directly under the caption “ the lines west of Pitts
burg aud Erie,” the latter being more fully described under the title
Pennsylvania Company and Pittsburg Cincinnati Chicago A St. Louis.
The balance of the system is operated independently.
East o f Pittsburg & E rie,
„
Miles,
i
Sunb. Hazleton & W ilkesb. Ry.T.. 43
R e po r te d D ir e c t l y .
Other lines ................................... 550
Main Line and Branches—
Mihs.
Philadelphia to Columbia, Pa. .. 81
Total in Penn. R R . statistics.2 ,7 47
Harrisburg, Pa., to Pittsburg, Pa. 248 |Trackage.
. ............................ 61
Branches and spurs....................... 207 j R e p o r t e d S e p a r a t e l y —
Phil. Wilm. & B altim ore!.............. 660
T otal main line and branches... 536 Northern Central Ry.T .................. 300
Lines operated by lease—
W est Jersey A Seashore R R .T .... 31'»
H ar. Ports. Mt. Joy & Lan. RR.T
Cumberland Valley RR.T.............. i f 8
DillersvilletoH arrisb., Pa.,etc.. 53 A llegheny Valley Ry.T.................. 273
Tyrone & Clearfield Ry ............... 134
W estern Pennsylvania R R .l ........ Ib7
Grand total east o f P. & E ..........4,603
United New Jersey RR.T
W e s t o f P itt s b u r g & E r ie .
Trenton to J ersey City, e t c ........ 145
.Philadelphia & Trenton RR.T.......
26
Connecting R ailw ay!......................
7
R e p o r t e d D ir e c t l y - —
Mile*.
Other lines .....................................
88 Pitts.Cin. Chicago A St. L ou isT ...1,473
Lines operated under contract—
Pennsylvania Compaqu lin e s !.......1,075
Penn. Schuylkill Valley R it.T...... 130
■Sunbury & Lewistown Ry.T..........
56
Total reported d ir e c t ly ..........2 , 5 4 8
B ald Eagle Valley R R.T................
00
R eported se p a r a te ly «Cambria & Clearfield RR.T ........
08 Grand Rapids A Indiana l i n e s ! .. .. 570
Southwest Pennsylvania Ry.T. .. 11‘ä Terre Haute A In d ia n a p olis!....... 630
‘Pittsburg Va. &, Charleston Ry.T.
77 Other lines (see Pa. Oo.statement) 655
Belvidere Delaware RR.T............... 81
Phila. Germ. A Chest. H ill RR.T.. 14
Total system Jan. 1 ,1808.........0,024
P hiladelphia A Long Branch R R .
40
Delaware River R R. & B rid g e !....
10
T See separate statement fo r this
P hiladelphia & Erie RR.T............... 302 company.
J. A J N. Y., 44 Exchange PI.
J. A J N. Y., 44 Exchange PI.
J. A J, N. Y., Central Trust Co.
P. & A Tre’s.off., Concord, N.H,
M. & N, Philadelphia, Office.
See text Phila. Office & London.
Q.—M. /j Philadelphia, Office,
j.& D . m
do
do
j . & f . Phila. office and London
¡.—M.
Philadelphia, Office,
, A S.
do
do
M. A N. N. Y., Farm’s L. & T. Co.
J. & J. Lond.,J oint-St’k Bk. Ltd
J. & J. Phila.,Pa. Co.for Ins.&c.
J. A J.
Phila., Co.’s Office.
J. & D. Phila., Provid’tL.&T.Co.
M. A S. Phila., Girid Life Ac. Co.
Q .-F . Phila.,Tr. S. Dep.AI. Co.
Quar. Phila., Gir’d Life Ac. Co.
July, ’98, 4%
July, ’98, 4%
Jan. 1, 1948
Aug., 1898,3%
Nov. 30,’98,2ia
July 1, 1910
June 15,1905
June 15,1905
July 1, 1905
Sept. 1, 1919
Sept. 1, 1919
May 1, 1943
July 1, 1940
July 1, 1921
Jan. 1, 1901
June 1, 1913
Sept. 1, 1914
1899 to 1901
1902
1899 to 1908
M. A S.
Philadelphia.
Mch. 1, 1909
M. A S.
Philadelphia.
Sept. 1, 1912
M. & N. N. Y., Farmers’ L. A Tr. May 1, 1923
Organization , L eases, Ac.—The charter of the Pennsylvania RailI r?,a<Lwa£ dated April 13,1846. The Pennsylvania Company controls
all the lines west of Pittsburg and Erie, the Pennsylvania Railroad
Company holding all its stock.
OWN™-—The total cost of these to January 1,1898, was
$119,659,343, most of which are pledged to secure Pennsylvania issues
Revenue derived from these securities in 1896, $4,616,215.
Capital Stock .—Stock authorized by law $151,700,000; the amount
outstanding has been increased from time to time, chiefly bv sale at
par to stockholders, for new acquisitions, etc.
D ividends ( ’ 83 ’ 84 ’ 85 ’86 ’87 ’ 88 ’ 89 ’90 ’91 ’ 92 ’ 93 ’9 4 to M a v ’98
per cent. (8 i« 7 5 5 5>j 5 5 5>s 6 6 t5
5 yearly,
t And also 2 per cent in scrip.
B onds.—Interest on general mortgage 6s of 1867 is payable on coupon
bonds January 1 and July 1; on registered bonds, April 1 and October 1
The consolidated mortgage of 1873 for $100,000,000 secures all thè
consols equally, though issued at different dates; of the amount author
ized, a sufficient amount is reserved to retire the general mortgage o f
1867. it covers all the property and franchises of the company,
including its main line from Philadelphia to Pittsburg, and branches
being a total of 517 miles, partly four-tracked, together with real
estate and equipment. It is also a first lien on the company’s leasehold
interest in other railroad lines and canals, as well as on shares and
bonds o f other oompanies o f an estimated cash value of over $50 000 000. These securities produced in 1892 an income of over $2,600 000
Sinking fund for consols Jan. 1,1898. held—Consols canceled, $1,^71
980; other securities and cash $5,319,908.
The 4 per cent loan o /1 8 81 is sejured by pledge of Philadelphia Wil
mington A Baltimore stock.
The* collateral trust loan of 1883 Is secured by the deposit of mortgage
bonds of subsidiary lines to the par value of $13,576,000.
The guaranteed securities are bought with 1 per cent of the net income
yearly, and $8,720,410 (par value) so purchased were held Jan. 1,1898
G uaranteed B onds.—In addition to “ guaranteed rentals,’ the
Pennsylvania RR. Is contingently liable under guaranties on certain o f
the bonds of the following companies, the nature of the guaranty being
described in the separate statement for each company—which see
Allegheny Valley Ry
Harri8b’g Portsmouth River Front RR.
Balt. A Potomac RR.
Mt. Jov A Lane. RR. Susquehanna Coal Co.
Belvidere A Del. RR. Mt. Holly Lumberton Delaware Riv. RR. A
Camden A Burlington
A Medford RR.
Bridge Co.
ComDany RR.
Pennsylv’a Canal Co. Tyrone A Clearfield Ry
Chartiers R.v
Pennsylvania Co.
United N. Jersey RR.
Connecting Ry.
Phila. Germantown A West Chester RR.
GirardPt. Storage Co.
Chestnut Hill RR.
West’n Pennsylv. R R .
Junction
RR.---------------Philadel’ a A Erie RR.
In Sept., 1897, $5,000,000 Pennsylvania Company Series A guar
anteed trust certificates were issued—see Pennsylvania Company.
G eneral F inances.—Mortgages and ground rents payable were on
Jan. 1, 1898, $4,288,071. In July, 1895, $5,000,000 consol. 3^ss were
sold for Delaware River bridge, construction and betterments during
1895. (See V. 61, p. 69.)
*
L atest E arnings.—Jan. 1 to Nov. 30 (11 months) directly operatedi
Lines east of P itts-) 1898, gross............... $59,866,759; net, $19,397,371
burg A Erie, j 1897, gross............... 58,605,312; net, 19,307,122
Lines west of P. A É., ine. or dec. gross... +2,400,700; net, —535,800
A nnual R eport .—Fiscal year ends Deo. 31. A n n u a l meeting is held
at Philadelphia on second Tuesday in March. The report for 1897 was
given at length in V. 66, p. 467, 473; see also editorial p. 448.
EARNINGS ON ALL LINES BOTH EAST AND WEST OP PITTSBURG AND
ewtm
The figures for 1897,1896 and 1895 are as follow s:
Tear ending Dec. 31—
1897.
1896.
1895
Gross earnings....................$128,278,087 $123,634,120 $132,72fli 811
Operating expenses............ 87,641,032
88,329,329
92,859,287
Net earnings.................. $40,637,055 $35,304,791
$39,861,524
The income account has been as follows, the “ net income ” given in
the first line being the amount of income after deducting interest paid.
REPORT OP PENNSYLVANIA RAILROAD COMPANY.
Year ending Dee. 31—
1897.
1896.
1895.
Miles operated........ .................
2,747
2,721
2,675
Gross earnings........ ................. $64,223,113 $62,096,503 $64,627,179
Operating expenses...................41,257,627
43,459,327 44,510,656
Net earnings....................... $20,965,487 $18,637,176 $20,116,523
Int. on Pa. RR. investments
4,616,216
4,615,433
4,353,987
Int. on United N. J. securities
231,194
320,435
257,100
Int. for use of equipment........
353,267
335,634
332,340
Interest, general account.......
189,574
54,180
120,032
Miscellaneous............................
104,248
93,19 j
Total net Income................ $26,459,935 *24,056,057 $25,179,933
11#
OÍYESTOE S’ SUPPLEMENT.
|Vol. LXVIII,
J a n u a r y , 1899. |
RAILROAD
STOCKS
AN D
BONDS.
117
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due.
Amount Rate per When Where Payable, and by pal,When
of
For explanation o f column headings, &c., see notes of
Par
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
■Whom.
Dividend.
Pennsylvania Company—Stock..................................
Bonds, gold, sec. by pl’ ge & guar, (not dr’n)..c*<fcr
Guar. tr.ctfB.$20,000,000g.guar. Pa. RR.,ser.A* ..r
Car trusts (Dec., 1898).........................-...................
Pennsylvania A North Western—Stock, $2,500,000.
Bell’s Gap Extension 1st m ortgage.................... c*
Consol, mort. (for $550,000) s. fund not dr’n.e*
Clearfield & Jefferson 1st mortgage.................... c*
General mortgage for $2,500,900....................... c*
Car trusts, $74,000 due yearly..............................
Peoria A Bureau Val.—Stk., 8 p. c. rent’l C. R.I.&P
Tea. Decatur A Evansv.—Receiver's certificates___
Stock authorized, $9,900,000............................ .
1st M. (Peoria Div.), gold..................................... o,
1st m. (Evansv.Div., Mattoon to Evansville,) g.o*
Second mortgage, g o ld ......................................... c*
Chicago & Ohio River Div. 1st mort. (see text.)..
Income mortgage, $750,000.................................
Ne w Sec deities under Brown P lan—
New common, $8,400,000.....................................
New preferred, 5 p. ct., non-eum., $3,000,000..
New 1st mortgage, gold, $2,757,000..................
Peoria A Eastern—Stock...............................................
Ind. Bloom. & W. 1st M., pref., int. guar., ext.c&r
Ohio Indiana & West. 1st M.,pref., gold, int. g u .cP. & E. consol. M. $10,000,000, interest guar..o*
2d consol, mortgage,income, non-cumulative. ..c
Peoria A Pekin Union—1st mortgage, gold........... o
2d mortgage, gold.................................................. c
1881
1897
62
24
24
38
62
47
....
....
1880
1883
1886
1890
....
....
1895
....
110
128
244
86
86
1880
1880
1886
1886
1886
$50 $21.000.000
1,000 19,467,000
1,000
4,950,000
1,083,876
50
2,250,000
1,000
81,000
50Ó &c.
145,000
500 &c.
1,000.000
1,000
1,021,000
225,000
100
1,500,000
13,018
100
8,400,000
1,000
1,287,000
1,000
1,470,000
1,000
2,088,000
50Ó &c.
250,000
623,500
....
1897
202
342
342
342
20
20
....
100
1879 100 &c.
1888 500 &o.
1890
1,000
1890
1,000
1881
1,000
1881
1,000
8,400,000
3,000,000
2,757,000
10,000,000
1,000,000
500,000
t8,103,000
4,000,000
1,495,000
1,499,000
Pittsburg, Co.’s Office.
' 413g. J. & J. N. Y., Nat’l City Bank.
3 ^ . M. & S. N.Y.,Union Tr. & Phila.
4
Various
do
do
Phila., Gu.Tr. & 8. D.Co.
6
F. & A. Phila., 26 So. 15th St.
A. & O. Phila., Gu.Tr. & S. D.Co.
6
6
J. & J.
do
do
5
J. & J. Phila., Gu.Tr.& S. D. Co.
5
M. & S.
do
do
8
F. & A. N.Y. ,Ch.R.I. & Pao. RR.
6
6 g. J. & J.
6 g- M. & S.
5 g. M. & N.
M. & N.
6
6
July 1, 1921
Sept. 1, 1937
Various dates.
Jan. 10, 1890
Aug. 1, 1905
Apr. 1, 1913
Jan. 1, 1927
Jan. 1, 1930
Mar., *99 t o ’0 »
Feb., ’99, 4%,
*July’97,cp. pd. Dec.’97 Jan. 1, 1920
*8ep.’96 cp. pd. Feb.’97 Sept. 1, 1920
Nov., ’93, coup, last pd. Nov. 1, 192©
Pd. on bonds not own’d
1916
1916
5 g.
4
5 g.
4
4
6 g41sg.
A. & O. N.Y., J.P. Morgan & Co. Apr. 1, 1940
do
do
Q.-^J.
Apr. 1, 193®
A. & O.
do
do
Apr. 1, 1940
April 1 N. Y., when earned.
Apr. 1, 1990
Q .-F . N. Y., Central Trust Co. Feb. 1, 1921
M. & N.
do
do
Feb. 1, 1921
* The Brown Committee is paying each April I and O ct. 1 at thè Cen tralTrust Co. interest at 5 per cent per annu m on ail certificates representing all e x ce ’t
bout 40 o f the first mortgage bonds o f both divisions de posited with sa^d trust c ompany under their agre ement.
t Also $3x7,000 issued as security—see text.
1
Deduet—
R entals.......................................
Interest on funded debt..........
Int. on morts. & ground rents.
Interest on car trusts...............
Equip, trust loan sinking fund.
State taxes and miscellaneous
1897.
9,718,430
4,2«1,039
133,023
549,154
136,400
828.806
1896.
8,824,163
4,257,819
131,978
575,592
875,384
Total.....................................$15,626,853 $14,664,936
$9,391,121
Balance....................................... 10,833,132
Payments—To trust fu n d.......
$94,410
$73,048
324,780
Consol, mortgage redeemed....
324,780
244,570
Allegh. Val. RR. Co.—Deflo’y .........................
1,516,899
Extraordinary expenses.........
1,067,305
1895.
Income account has shown after pavment of all obligatory charges.
8,896,061 In 1891, net profit, $1,725,938; in 1892, profit, $1,229,974; in 1893,
4,163,775 profit, $1,050,476; in 1894, loss, $687,476; in 1895 profit, $947,034;
128,069 in 1896, profit, $238,267. (V. 65, p. 368,1116.)
602,031
P e n n s y lv a n ia & N o r th W e s te r n R R . — Owns Bellwood, Pa., to*
859,614 Horatio, 62 miles; total, including branches, 75 miles. A consolidation
Jan. 1,1890, of the Bells Gap and Clearfield & Jefferson roads.
$14,649,550
D ividends .—In 1890,5 p. o.; in ’91, 5 ; in ’92, 51«; in ’93, 6 p. c.; in
$10,530,432 1894, Jan., 2 p. c.; in July n one; in 1895, 2 p. c.; in 1896, none.
Earnings.—Year ending June 30, ’98, gross, $608,102; net, $259,052:
$87,217
324,780 other income, $1,171; Interest, taxes, etc., $136,298; balance, surplus.
156,715 $123,295. In calendar year 1897 gross, $505,464; net, $168,117. (V
1,327,250 59, p. 1008.)
e o r ia & B u r e a u V a l l e y R R . — Peoria to Bureau Juno., 111.,
$1,486,495 $2,159,297
$1,895,962 47Pmiles.
Leased in 1854 to Chicago Rock Island & Pacific RR. for
Balance to credit o f in com e... $9,346,637 $7,231,824
$8,634,470 $125,000 yearly; dividends, usually 8 p. 0. yearly, occasionally more.
Dividends................................... (5) 6,465,170 (5) 6,465,123 (5)6,465,011
“ Extraordinary Fund” .......... *1,800,000
P e o r ia D e c a t u r & E v a n s v i l le R y . — Owns from Pekin to Evans
ville, 228 miles; branch, 6 miles; Chicago & Ohio River Division, Sidell
To credit o f profit and lo s s .... $1,081,467
$766,701 $2,169,459 to West Liberty, 77 miles (laid mostly with iron rails); total owned,
Bal profit and loss Deo. 31___$22,823,957 $24,152,323 $23,553,470 311 mil es; joint track to Hervey City, 8 miles; leases, Pekin, 111., t o
Peoria, HL, 9 miles; through Decatur 3 miles; total, 331 mil««.
‘ Created in 1897 to ensure continuous prosecution of work on grades,
H istory .—Company owns $250,000 Peoria & Pekin Union stock,,
alignments, betterments, &o., in which shall be set apart from time to
time such sums as can be spared from current income without en but ownership is in litigation. The P. D. & E. owns $220,000 o f the
$250,000 Chicago & Ohio R. firsts outstanding as in table above, and
croaching on dividend fund.
issued as collateral an order for $100,000 additional.
Officers (Mar., 1898.)—President, Frank Thomson; 1st V. P., John has
In May, 1898, it was announced that the Chicago & Ohio RiverP. Green, 2d V. P., Charles E. Pugh; 3d V. P., S. M. Prevost, Secre division, not included in reorganization plan of P. D. & E., would
tary, John C. Sims; Treas., Robert W. Smith.—(V. 66, p. 4 7 3 ,1 0 8 9 ; be acquired by Cin. Ham. & Dayton interests. (V. 66, p. 1043.)
V. 67, p. 180, 789,1309.)
R eceivership , E tc.—On January 13, 1894, placed in receiver’ s'
P e n n s y lv a n i a C o m p a n y .— ("(See Map Pennsylvania RR.)—This
company owns no road in fee but has charge of all the system of the hands. The receiver is now E. O. Hopkins—see V. 65, p. 195.
Coupon P ayments on F irst Mortgages .—Coupons of Peoria divis’n
Pennsylvania Railroad Co. west of Pittsburg, its lines including:
bonds due July, 1897, w ere paid Dec., 28, 1897. Coupons of Evans
Leased by transfer from Pa. RR.:
Other lines controlled by stock or ville
due Sept., 189«, were paid Feb. 10,1897. No payments
otherwise:
Miles. sincedivision
to Oct., 1898, on the old loans. The Brown reorganization com
Pittsb. Ft. W. & Chicago. 17469-89 Pitts. Cin. Chic. & St. L.
mittee,
however,
pays regularly through the Central Trust Co interest
N e w ca s tle * Beaver Val.. 1714-98
Ry. and leased lines___1,340-68
5 per cent per annum on certificates representing ail except about
Massillon & Cleveland___
12-23 Cin. & Muskingum V al... 1]148-45 at
40
o
f
the
bonds
of
both loans deposited under their plan. These pay
Erie & Pittsburg . . . ........ 1784-47 Waynesburg & Washing..
28*15
Cleveland & Pittsburg___17198-34 Cleveland & Marietta.......17103-13 ments are April 1 and Oct. 1.
R
eorganization
P lans.—The Scudder second mortgage committee!
Leaded directly by Pa. Co.:
Cin. Leb. & Nor..................
31-76
Pitts. Youngs. & Ashta___17125-09 Cin. Rich. & Fort Wayne.. *85-60 in December, 1898, issued an amended plan (in Y. 67. p. 1357), by the
Toledo Wal. Val. & O hio... 125-40 St. L. Vand. & Terre H .... 17158-30 terms of which the syndicate organized by the Colonial Trust Co. will
Indianapolis & Vincennes 17133-11 East St. L. & Carondelet.. 1713-25 purchase the Peoria Division free of incumbrance, and, if deemed ad
visable, may also purchase the Evansville Division. Common stock is.
Controlled by stock or otherwise:
Controlled jointly with
fixed at $3,000,000. The amounts and rates of interest on bonds and
Pitts. Ohio Val. & Cin........
15-27
other companies:
Rooh. Beaver Falls & W. . .
-55 Pitts. Chartiers & Yough.. 1715-74 preferred stock have not been fixed, but interest charges are lim ited
Marginal RR.,Beav.F..Pa.
2*96 Tol. Peoria & Western___17230-70 to $70,000 on Peoria Division and $140,000 on the entire property,
and interest and dividends on preferred to $130,000 on the Peoria
SalineviUe RR....................
3-07 Lines used jointly under
Rolling Mill RR.,Toledo,O.
-71
trackage arrangements.
93-33 Division and $190,000 on the entire property. The second mortgage
bondholders can receive back their assessments already paid ana sell
South Chic. & Southern...
10-25
State Line & Ind. C ity....
7*56
Total of all lines..........3,457-40 for 15 in cash or receive 50 in new common, with the privilege of sub
scribing to the new securities on the same terms as the syndicate. TheCalumet River..................
4*43
‘ Operated b y Gr. Rapids & Ind. syndicate also agrees to furnish $500,000 to be expended on the prop
erty within the next five years.
Tot. op. direct, by Pa.Co.1,208-31
17See statement for this co.
The Brown First Mortgage Committee issued a plan in Sept., 1897
Organization —Chartered in Pennsylvania April 7,1870, and oper (Y.
p. 621). The Brown plan would give: Old/«I ¿spar in new 1st 5s
ates all the Pennsylvania’s leased lines west of Pittsburg. Its stock and65,
10 p. o. in preferred stock; old 2d j s to pay assess, of 25 p. c. and
is owned by the Pennsylvania Railroad. On December 31, 1897, the receive
1121a p. c. in preferred; old common assessed 5 p. c. and to re
Pennsylvania Company owned sundry bonds having a par value of ceive 5 p.
0. new pfd. and 100 p. c. new common. Interest charges
$5,842,700, and stocks of par value of $62,219,817, these stocks and under
Brown
plan, $137,850.
„
bonds representing on the company’ s books a value of $35,647,795
Committees.—First mortgage bondholders’ committee (both divisions^and yielding from Jan. 1 to Dec. 31, 1897, an income of $1,435,477.
consists of Walston H. Brown, Chairman, 40 Wall St.; Wm. Augustus
Of these securities part are pledged, as said below.
White, 130 Water St.; E. H. Ladd, Jr., Morton S. Paton, Charles A. Pea
D ividends .—In 1883,4 per cent; then none till 1892, when 4 per body,
Jr. Depositary, Central Trust Co., New York. A majority o f
cent was paid in March; in 1893, March, 4 p. o.; in 1894, June, 4 p. c. firsts of
each division have been deposited. V. 65, p. 778, 824, 977.
Bonds.—The gold bonds o f 1921 are secured by a deposit of the leases
Second Mortgage Bondholders' Committee.—Moses L. Scudder,.
o f P. Fort W. * C., the Cleve. & Pittsb. and Erie & Pittsb. railroads, and Chairman; Charles 8. Fairchild, Jenkins Van Schaiok, R. Suydam
of bonds and stocks having a par value April 1,1881, of $24,171,630, Grant, W. H. Payne; depositary, N.Y. Security & Trust Co., N. Y. See
as well as by lien on certain real estate. They are also guaranteed V. 60, p. 930, 1106. Practically all the seconds had been deposited.
as to principal and interest by the Pennsylvania Railroad Com
Foreclosure suits instituted under both divisional first mortgages.
pany, and are so endorsed; the trustees of the mortgage are W. H. (V. 64, p. 1089. 1138; V. 65, p. 70, 195; V. 66, p. 184.) In March,
Barnes, John P. Green and N. P. Shortridge.
1897, decree of foreclosure entered under second,mort. V. 67, p. 275
In Sept., 1897, guaranteed trust certijlcates were issued by Girard
F loating D ebt .—On Dec. 31,1897, principal o f bills payable was
L. I. A. & Trust Co., Phila., as trustee, under a deed of trust made by
accrued interest unpaid, $222,746; equip, notes, $7,564;.
the Pennsylvania Company and the Pennsylvania RR. Co., whereby $804,091;
overdue
interest on seconds, $437,000; due H. I. Nicholas & Co. on
the Pennsylvania Company has pledged $5,000,000 at par of the 7 per
cent guaranteed special stock of the Pittsburg Ft. Wayne & Chicago stock account, $65,672; receiver’ s bills payable, $25,000.
E arnings.—9 months, >1898.............Gross, $650,598; net, $62,051
Railway Co. The total authorized issue of the trust certificates is
Jan. 1 to Sept. 30.
5 1897............. Gross, 673,586; net, 125,931
$20,000,000, each series to be secured by deposit of shares of the
special guaranteed stock to an amount equal to the pa r value o f the
R eceivers ’ R eport .—Report for 1897 o f the tw o main divisions sep
series. The series A w ere issued in September, 1897, for refunding arately was in V. 66, p. 469. Report for y ear ending Deo. 31, ’ 96, w as
and capital expenditures. Sinking fund $50,000 a year, but certificates given in V. 64, p. 1040. Interest on 2d mortgage and Ry. Co. floating
cannot be called. See V. 60, p. 368, 572,1116; V. 67, p. 1 2 2 .
debt (which was not paid) not included for any of the years.
A nnual R eport .—Report for year ending Dec. 31,1897, was in V.
Cross.
Net.
Interest. Rent.,Ac. Balance.
67, p. 122. In year 1897 gross on 1,225 miles, $20,225,670; net, 1897................... $901,675 $124,323 $168,624 $30,140 def.$74,341
$8,050,069; interest, rentals, etc., $7,040,248; balance, sur., $1,009,- 1896................ 864,054 204,958
172,472
33,690 def. 1,204=
821. In 1896 gross, $19,423,975; net, $7,312,371.
1895............
911,776 244,141
170,897
30,141 sur.43,103.
118
INVESTORS5 SUPPLEMENT.
IV o l . L X Y 1 II.
S u b s c r ib e r s w i l l c o n f e r à g r e a t fa v o r b y g i v i n g I m m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d In tb e s e T a b le s .
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
of
Par
For explanation of column headings, Ac., see notes of
Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
on first page of tables.
Cent. Payable
Whom.
Dividend.
Peoria A St. Louis—1st M., gold, $20,000 p. m ...o*
Perkiomen—IstM ., ser. I (1st l’n) gold, gu. p. & i.o* 38*5
1st M., ser. 2 (2dl’n) gold, guar. p. & 1. (end.)..c* 38*5
Peterborough RR.—Stock (rental 4 per c e n t)..........
Phil.ABalt.Cent.—1st M.$2,500,000,$1,200,0004^8 ” 73
Phila. A Ohes. V.—1st M., pf., old 5s, red. ’ 96, g..o* . . . .
1st m., old 4s, not pref.,Int. reduced in ’96, g..c* . . . .
Phila. <tBrie—Common stock ($10,000,000 author.) 287
Preferred stock, 7 per cent, special.......................
287
Gen. M. (now 1st) gold, guar. p. & i. by Pa. RR..C 287
do
do
($5,263,000 are 5s).......................r 287
Phila. A Frankford—1 st mort., $500,000, gold .. .c*
Phila. Germ. A vhestnut Kill—1st M., gu. by Pa. Ry.r
7
Consolidated mortgage, gold............................... c* . . . .
Phila. Germ. A Nom st'n—Stock rental., P. & R. Ry.
29
Phila. Harrisburg A Pittsburg—1st mort., gold.c*<fcr
44
Phil.Newl’nAN .Y.—1st M„ gold, int. red. to 396.0*
22
P h ila delph ia & R ead in g R y .—See R eading C OMPA
■Phil. Read. A New Eng.—1st M., gold, guar, (end.) .c*
58
Do (4 p.c.till Sept.’95; since 5 p.c.) guar.p. & i.c*
58
Do 5 percents (See text) gold, guar. p. & i ........
58
Inc. M, non-cu., 8er.A,$17í^0,00d;B,$2100,000-C,'
58
1896
$100
1888 100 &c.
1888
1,000
1881
1888
1888
....
___
1869
1869
1892
1883
1894
....
1890
1892
NY.
1892
1892
1892
1892
1,000
500
500
50
50
1,000
1,000
1,000
1,000
1,000
50
1,000
1,000
1,000
1,000
3,750,000
2,500,000
As collateral
1,000
3,850,000
To balance in ’97 or ’96 add $15,000 dividend on P. & P. U. stock
in each year, but ownership of this stock is in litigation. President,
<Oct. ’97) R. S. Anderson.—iY. 67, p. 75,275, 635,1002,1357.)
P e o r ia 8c E a s t e r n B y . - (See Map Olev. Oin. Ohio. A St. Louis.)—
Owns from Pekin, m ., to Indianapolis, Ind., 202 miles, and has a lien
o f $5,000,000 on Springfield Division, Indianapolis to Springfield,
Ohio, 141 miles; trackage, Pekin to Peoria, 9; total operated, 352 miles.
L ease, E tc.—Formerly Ohio Indiana & Western, sold In foreclosure
In 1890, reorganized per Y. 49, p. 616, and leased till Apr. 1,1940, to
Cleveland Cincinnati Ch. & St. L., which guarantees interest, but
not principal, of the first consols and the underlying bonds, and owns
one-half the $10,000,000 stock, par $100. See Supplement of Jan.,
1894, as to provisions respecting any surplus over charges.
B onds.—The consolidated mortgage of 1890 covers, besides the road
owned, the $5,000,000 purchase money lien on the Springfield Division;
\$1,500,000 are reserved to retire the prior liens and a sinking fund for
this purpose held $140,000 on June 3 0 ,1 8 9 6 ; C. C. C. & St. L. is en
dorser on $200,000 P. & E. notes and holds $397,000 consols as
.security therefor—these in addition to the $8,103,000. See abstracts
n f mortgages of 1890 in V. 51, p. 246 and of O. Ind. & Western mort
gage, V. 47, p. 201. The $1,000,000 Ind. Bloom. & West. 7s, due Jan.
1,1900, were extended to April 1,1940, with interest from Oct., 1898,
at 4 per cent. V. 67, p. 530. Due lessee July 1,1898, $1,078,333.
E arnings.—5 months, > 1898............ Gross, $796,836; net, $184,078
July 1 to Nov. 30. J 1897............ Gross, 786,178; net, 189.405
Sur. over 5 months’ oharges, $70 in 1898, against.$5,397 in 1897.
A nnual R eport .—For 1897-98 see lessee’ s report V. 67, p, 425.
Year end. June 30. Gross.
Net.
Interest, etc.
Balance.
1897-8.....................$1,883,107
$456,782
$441,620 sur.$15,162
1896-7..................... 1,631,103
342,847
441,620
def.98,773
—"Y. 6 1 ,p .¿ 67, 55$ V. 63, p. 5 5 6 ; V. 67, p. 4 2 5 ,5 3 0 .
P e o r ia 8c P e k i n U n io n B y , - Owns Pekin to Peoria, on both
sides o f Illinois River, and yards at and opposite Peoria. Mileage main
track, 16*55; second main track, 8*92; total main track, 25*47 miles.
Mileage of side and yard tracks, 47*62. Capital stock, $1,<i00,000.
Owned by the Cleveland Cincinnati Chicago & St Louis, Chicago
Peoria & St. Louis, Peoria Decatur & Evansville, Lake Erie & Western
and Wabash RR. companies. Extensive improvemoiits and additions
to the property were made in 1896—double track, new shops, eto.
In 1895 paid dividend of 6 p.c.; in 1895-6 paid 6 p.o ; in 1896 7, 6 p 0.;
in 1897-8, 6 p. c.
Earnings for year ending June 30,1897, gross, $642,803; net, $316
390; charges, $225,415; dividends, $60,000; balance, surplus, $30,375
I n 1895-6, gross, $671,934; net, $305,290.—Y. 60. p. 52 1 .
Officers .—C. H. Bosworth, Pres.; E. F. Osborn, Yice Pres.; F. L.
"Tompkins, Supt.; H. K. Pinkney, Sec. and Aud.; J. F. Keifer, Treas.
P e o r i a 8c St. L o u i s B y . - V . 63, p. 560; Y. 64, p. 755.
P e r k t o m e n R R . — Owns from Perkiomen Junction, Pa., to Emaus
Junction, Pa., 38*5 miles. Stock subscription, $38,040. Reorganized in
1887. There is due Reading Company on loan account about $1,000,600.
In year end. June 30,1898, gross earnings were $299,330; net, $131,'911; interest, etc., $96,230; bal., surplus for year, $35,681. In 1896-97,
gross, $260,366; net, $93,738.
P e t e r b o r o u g h R R . —Wilton to Greenfield, N. H., lO ^ miles.
Leased April 1,1893, to Boston & Lowell for 93 years at 4 p. 0. on
stock aucl expenses. Capital stock $385.000; par, $100; div., A. O.
P e t e r s b u r g R R .—In ’98 consolidated with the Richmond & Peters
burg under name of the Atlantic Coast Line Co. of Yiginia, which see.
P h i l a d e l p h i a 8c R a lt im o r e C e n t r a l R R . — West Phila. to
Octoraro Jo., Md., 63 miles; Wawa to West Chester, Pa., 9 m. (double
track, 13 m.); branch, 2 m.; leased, Chester Creek RR., 7 m. Phila. Wil
mington & Baltimore Railroad holds $2,497,100 of the $2,499,286
stook, and road is a part of Pennsylvania system. Fiscal year ends
Oct. 31. For 1897-98, gross earnings, $829,616; net, $115,182; int. on
deposits, etc., $22,742; def. under charges, $29,703, In 1896-7, gross,
$818,027; net, $109,613. In 1895-6, gross, $866,621 ; net, $73,456.
P h i l a d e l p h i a 8c C h e s te r V a ll e y R R . — Road from Bridgeport
to Downington, Pa., 22 miles. Chartered in 1888. Capital stock (par
$50) is, common, $550,000; preferred, $205,100; total, $755,100, of
which Reading Company owns $450,000 common and $205,100 pre
ferred, the same being deposited under its general mortgage of 1897.
A 1 per cent reduction of interest on each class of bonds was agreed
to in December, 1896, by 96 per cent in interest of the bondholders.
Bee V. 63, p. 1064. The Reading “ Company” guarantees by endorse
ment principal and interest o f the bonds, with interest reduced.
E arnings.—For year ending June 30, 1897, gross, $44,641; net,
$9,097; charges, $14,575; bal., def., $5,478.—Y. 63, p. 1064.
P h i l a d e l p h i a 8c E r ie R R . — (See Map Pennsylvania RR.)—
R oad —Owns Sunbury to Erie, Pa., 287 miles—double track, 76 miles.
Organization , L ease, &c.—Formerly Sunbury & Erie. Leased to
Pennsylvania RR. Co. for 999 years, and actual net receipts paid as
rental. Pennsylvania RR. owned Deo. 31, 1897, $3,501,800 common
friid $2,400,000 special stock and $3,946,000 general mortgage bonds,
ftnfl city o f Philadelphia (sinking fund) $2,250,000 common stook.
D ividends .—On common in 1892, 2 p. 0.; 1894, 2 p. o. On preferred
‘ special,” 1888-93, 7 p. c. yearly; 1894 to ’97, none; in Dec., ’97, 2 p.c.
$20,000
5 g. F. & A.
799,600
5 g- Q. —J.
1,125,000
5 g- Q .-J .
385,000
4
A. & O.
2,200,000 4*2 & 5 M. & N.
280,500
4 g. A. & O.
100,000
3 g. A. & O.
7.985.000
2.400.000 2 in ’97 Yearly.
8,680,000
6 g. J. & J.
11,143,000 4 g. & 5 g. A. & O.
497,000
5 g* F. & A.
1,000,000
413 M. & N.
• 263,000
4*ag. M. & N.
2,246,900
12
Q.—M.
500,000
5 g. A & 015
1,408,000 3 (5) g. A. & O.
4 g.
4-5g.
5 g.
5 g.
F. &
M. &
M. &
Oct.
N. Y., Knickerbock. Tr.
Phila. Readi ug Ter. Bid.
do
do
Nashua, N. H.
Phila., Penn. RR. Co.
Philadelphia.
do
do
Phila., Broad St. Stat’n.
Phila., Broad St. Stat’n.
do
and London.
Phila.. Broad St. Stat’n.
Interest in default.
Phila., Broad St. Stat’n.
ao
do
Phila., 132 So. 3d St.
Phila., Comp’y’s office.
do
do
A. Feb., ’ 93, coup, last pd.
N. Nov., ’92, coup, last pd.
N. Nov., ’92, coup, last pd.
1
None paid.
Aug. 1, 1936
Jan. 1, 1918
Jan. 1, 1918
Oot., 1898,296
Nov. 1, Ì91Ì
Apr. 1, 1938
Apr. 1, 1938
Mch. 1. 1894
Deo. 31,’97,2%
July 1, 1920
July 1, 1920
Aug. 1, 1922
May 1, 1913
Nov. 1, 1944
Dec. 4,’98,3%
Oot. 15,1925
Oot. 1, 1942
Nov.
Nov.
Nov.
Oct.
1,
1,
1,
1,
1942
1942
1942
1952
E arnings.—11 mos., >1898........ Gross, $4,193,093; net, $1,311,705
Jan. 1 to Nov. 30.
5 1897........Gross, 4,255,056; net, 1,271,189
A nnual R eport .—Report for 1897 was given in V. 66, p. 468.
Year end. Dee. 31—
1897.
1896.
1895.
1894.
Gross earnings................$4,601,257 $4,512,511 $4,378,574 $3,965,196
Total net income............ $1,235,187 $1,231,996 $1,181,840 $1,020,411
Interest on debt.............. $1,047,470 $1,047,470 $1,047,470 $1,047,470
Interest on special stock.
48,000
.....................................................
Interest on equipm’t, &o. 125,564
176,962
129,843
118,124
Balance.............................sr.$14,153 sur.$7,564 sr.$4,527df.$l45,183
- (V . 65, p. 572; V. 66, p. 385, 4 6 8 .)
P h il a d e l p h i a 8c F r a n k f o r d R R . — Owns from Cresoentville to
Frankford, Pa., 2*6 miles. Lease not assumed by Phila. & Reading Ry.
Of the $500,000 stook $498,950 is owned by Reading Company and
deposited under its mortgage of 1896. Mortgage trustee is Guarantee
Trust & Safe Deposit Co., Philadelphia. In Dec., 1*498, an arrangement
was progressing looking to adjustment of defaulted bonds—V. 67, p.
1358; V. 67, p. 1357.
P h il a d e l p h ia G e r m a n t o w n & C h e s t n u t H i l l R R . — In Phil
adelphia from Germantown Juno., on Connecting Railway, to Chestnut
Hill, 7 miles; branches, 7 miles. From May 1,1883, leasod for 30 years
to the Pennsylvania Railroad Co., which guarantees principal and
interest on the bonds, and Jan. 1, 1898, owned $1,262,750 of the
$1,263,000 outstanding stook and all the $263,000 outstanding bonds.
Authorized stock $2,000,000 (par, $50). Of the consol, mortgage for
$2,000,000, $1,000,000 reserved to retire firsts of 1883. Interest free
of all taxes. Gross earnings in 1895, $164,267; net, $13,196, interest
on bonds, $54,863, other charges, $7,213. (V. 59,p. 880.)
P h il a d e l p h ia G e r m a n t o w n 8c N o r r is to w n R R . —P h ila .,
Pa., to Norristown and Germantown, Pa., 2 0 ^ miles; second traok,
20 miles; total traok, 80 m.; Plymouth RR., 9 miles. Leased November
10,1870, to Philadelphia & Reading Railroad for 999 years at a rental
of $269,623 and $8,000 yearly for organization expenses. Dividends
are 3 per cent quarterly (12 per auuum), but in Maroh and September,
1893, only 2*3 p. c. each was paid on aooount of certain losses. Lease
assumed in 1896 by Phila. & Reading Railway.
P h il a d e l p h ia H a r r is b u r g 8c P i t t s b u r g R R . — Owns from
Harrisburg, Pa., to Shippensburg, on the Western Maryland Railroad,
41 miles; sidings and laterals 10 miles. Opened in April, 1891, and
leased for 999 years at 5 p. c. on stock, interest on bonds, taxes and
expenses to the Philadelphia & Reading RR., which by endorsement
on each guaranteed the bonds, principal and interest. Lease assumed
in 1897 by Philadelphia & Reading Rahway. Stook, $2,000,000 (par,
$50), of which $1,995,000, along with $1,472,000 of the bonds are
owned by the Reading Company and deposited under its general m ort.
gage of 1897. Mortgage is for $2,000,000.
P h il a d e l p h i a N e w t o w n 8c N e w Y o r k R R . — Road —Phila
delphia to Newtown, Pa., 21 miles; branch 1 mile. Opened in 1878
and was operated in connection with Philadelphia & Reading, which
guaranteed the bonds, principal and interest, by endorsement. Capi
tal stock, $1,600,000; par, $50. Of the bonds, $849,100 (with coupons
only partly paid—see v . 64, p. 331), are owned by the Reading Company
and deposited as part security for its general mortgage of 1897. In
Dec., 1898, the Reading Co. arranged to reduce interest to 3 per cent,
that on 3 overdue coupons to be paid at the same rate.—V. 67, p. 1357.
For year ending June 30,1897, gross, $84,227; net, $19,747; total de
ductions, $29,645; balance, deficit, $9,898.—V. 67, p. 1356.
P h il a d e l p h i a 8c R e a d i n g R R . —See R eading Company ,
P h il a d e l p h i a 8c R e a d in g T e r m in a l R R . — Owns term inal
road, 1*3 m Ues, including station at Twelfth and Market Streets, Phila
delphia; total single track, 5*7 miles. The capital stook is $8,500,000,
and $8,497,500 o f it is deposited as security for the Terminal bonds of
the Phila. & Reading RR. (see Reading Company), which are also
guaranteed by the Terminal Company, the latter having issued no
bonds of its own—see full particulars V. 64, p. 85.
P h il a d e l p h ia
R e a d in g 8c N e w
E n g l a n d R R . — Fore
closed in 1898, and in Jan., l->99, property transferred to Central New
England Ry., whioh see. Under the reorganization plan in V. 66, p.
574 (see also V. 67, p. 789), the old securities will receive:
I f pay's Forassess.
Gen.
Pref.
Oom.
Old securities. Par. asses, o f new rst M. mort.
stock.
stock.
1st mort. 4 s ...$1,000
$'84
*84
$1,000 00
*$100 00 *$372 14
1st mort. 4-5s. 1,000
85 50 85 50
1,043 33
*100 00 *37214
1st mort. 5 s ... 1,000
86 50 86 50
1,073 33
*100 00 *37214
............
1,000 00
.........
Series “ A ” . . . . 1,000 100
100
Series “ B” . . . . 1,000
80
80
............
333 33
.........
Pref. stook___
100
8
8
............
.........
25 00
Com. stock....
100
-2 50
2 50
............
.........
750
♦Also to receive, if paying assessment, pro rata share in new stock originally
reserved fo r old securities that have failed to pay assessment. See V . 67, p. 789,
Depositary, Fidelity Ins., Trust & Safe Deposit Co., Philadelphia. A
syndicate has underwritten the plan, wh oh was declared operative in
May, 1898. (V. 66, p. 761, 811, 901.) In Jan., 1899, an offer was
m adj to purchase about 49 per cent of the old 1st mortgage bonds
upon terms in V. 68, p. 41.
J a n u a r y , 1819.
JEUXLROAB
STOCKS
AND
BONDS.
119
1 2 0
LNVESTOKS’
SUPPLEMENT,
[V o l . LXVIII.
S u b s c r ib e r s w i l l c o n f e r à g r e a t fa v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d is c o v e r e d i n t b e s e T a b le s .
Bonds—Prln o i
INTEREST OR DIVIDENDS.
RAILROADS.
Due.
Size, or
Miles
Amount. Rate per When Where Payable, and by pal,When
Stocks—Last
Par
of
For explanation of column headings, &o., see notes of
Outstanding
Whom.
Dividend.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Phila. <6 Trenton—Stock 10 p. o. rental, Penn R R ..
Philadelphia, Wilmington <t Baltimore—Stock. . . . .. .
Plain bonds, s. fund $16,000 yearly, not drawn., r
Plain bonds, s. fund $20,000 yearly, not drawn, .r
Plain bonds................................................................r
Plain bonds................................................................ r
Plain bonds, gold— ............................................... r
Plain bonds, gold.......................................................
Piedmont <t Cumberland—S to ck ........... .
1st mortgage, gold.......... ..........- -- -- - — - - - - - - •«
Pine Creek—1st M., guar. prin. and interest (end.)r
Pittsburg Bessemer <&L. E.—Stock, $10,000,000...
Pittsb. Sben. & Lake Brie, 1st mort., g old .....o*
Consol. 1st mortgage, for $4,800,000, gold..o*
Pittsb. B. <fc L. E., consol. M., $10,000,000, g..c*
Bessemer equipment trust, $600,000, gold.TJPi
Conneaut equipment trust, $500,000, g o ld .F P i
PittsburgOhartiers <&Yough’y—Stoois., $1,000,000..
27
1875
1880
1887
1887
1891
1892
29
75
1886
1885
134
151
193
1890
1893
1897
1897
1898
. . . .
"ïé
16
Gen. M. $1,000,000, gold, gu. p.&i. (end.) See text.
Pittsburg Cincinnati Chicago <t St. Louis—Pref. st k 1,090
208
f coL «feind. Cent. IstM. (Colum. tolnd. <fe br.).o’
208
■I CoL <&Indianapolis Central 2d mortgage.......o’
93
l Union <&Logansp’t 1st M. (U’n City to Logans.)o’
Chic. St. L. & Pitts, cons. M. ($22,000,000) g .. .c&r 580
Jeft’nville, Mad. <feIn. 1st M. (s. f. drawn at 110).c 222
2d mort., Jeffersonv., Ky., to Indianap. <&br’h.c 222
< Steub. <feInd., 1st mortgage, extended in 1884.r 116
i Pitts. C. <feSt. L., 1st consol, mortgage.......... c&r 216
a Sinking fund in Dec., 1898, held about $1,34 6,000
1882
1892
1864
1864
1865
1883
1866
1870
1864
1868
10
$100
See text.
Q.—J. Phila., Company’s Office Jan., ’9 9 ,2 ^ %
50 $11,819,350 7 in 1898 J. «& J. Phila., Broad St. Stat’n Jan. 3, ’99,4%
800,000
6
A. <fe O. Phil. Of. ;Bost. ,Kid.Peab Apr. 1, 1900
1,000
June 1, 1910
do
do
1,000,000
5
J. «fe D.
1,000
Apr. 1, 1917
do
do
4
1,000,000
A. <fe O.
1,000
4
M. <fc N. Phila., Broad St. Stat’n Nov. 1, 1922
1,000
1,000,000
Jan. 1, 1926
do
do
1,000
930,000
4 g. J. «fe J.
Oct. 1, 1932
do
do
1,000
1,000,000
4 g■ A. <& O.
Oct. 18,’98,2%
650,000 4 in 1898 Semi-an
50
1,000
650,000
5 g. F. «fe A. Baltim.,Hambleton«feCo Aug. 1, 1911
J. «fe D. N. Y. Gd. Cent. Station. Deo. 1, 1932
1,000
3,500,000
6
50 10,000,000
1,000
3,000,000
5 g. A. «& O. N. Y. Central Trust Co. Oct. 1, 1940
do
do
July 1. 1943
408,000
1,000
5 g- J. «fe J.
1,000
6,199,000
5 g- J. <fc J. N. Y., U. S. Trust Co. Jan. 1, 1947
6
J. «fe J. Un. Trust Co., Pittsb’g. 1899 to 1906
1,000
600,000
6
M. «fe S. Fid. Tit. <fc Tr., Pittsb’ g. 1900 to 1908
1,000
500.000
Feb. 15,’98,4%
700.000 4 Feb.’ 98
50
Pittsburg, Office.
Feb. 1, 1902
F. <& A.
6
320.000
500 «feo.
do
do
Apr. 1. 1932
349,000
1,000
4= g. A. <fe O.
N.Y.,Farmers’ L’n <feTr. Jan. 27,1896
100 22,677,143
J. «fe J. N. Y., Union Trust Co. Nov., 1904
2,631,000
7
1,000
do
do
Nov., 1904
M. «fe N.
780,000
7
1,000
do
do
Dec., 1905
A. «fe O.
715,000
7
1,000
Oct. 1, 1932
do
do
1,506,000
1,000
5 g- A. <fe O.
A. «fe O. N.Y.,Farmers’ L’n <&Tr. Oct. 1, 1906
7
1,000 a l , 654,000
July 1, 1910
do
do
J. «fe J.
1,995,000
7
1,000
J.
«fe J. IN. Y., Nat’l City Bank. Jan. 1, 1914
3,000,000
5
1,000
F. <fe A. Phila., Broad St.Station Aug. 1,1900
6,863,000
7
1,000
additi onal.
P h i l a d e l p h i a & T r e n t o n R R . —Phila. (Kensington), Pa., to
Morrisville, Fa., 23 miles, mostly four-tracked, and branch 3 miles. On
D ec 1,1871, leased, with the United Cos. of N. J., for 999 years to the
Penn. RR. at 10 p. o. on $494,100 stock, the total issue being $1,259,100, the balance being owned by the United RR. of N. J.
P h il a d e l p h i a W i l m i n g t o n & R a lt im o r e R R . — (See Map
Penn. BE.)—Operates from Philadelphia to Washington, D. C., and from
Wilmington, Del., to Delmar, Del., with branches as follows ■
Lines owned—
Miles. Delaware RR.1T...........................217
Philadelphia to Baltimore....... 95 Delaware Md. «fe Va. IT............... 98
Baltimore <fe Potomac H............ 97
(all double track.)
Branches to Delaware City, etc. 22 Other lines (6)............................ 53
Lines controlled, leased, etc.—
Total (11 see this com pany)...669
Philadelphia & Balt. Central^- 80
Organization .—Penn. RR. owns $10,890,950 stock (mostly pur
chased in 1881). and controls the operation. The P. W. <& B. owns
stock in the Cambridge <& Seaford, Columbia <&Port Deposit, Junction
RR., Queen Anne’s <fe Kent, South Chester <&Un. RR. of Baltimore, etc.
D ividends . 51868-87 ’ 88 ’ 89 ’90 ’91 ’92 ’93 ’94 ’95 ’ 96 ’97 ’98
Per cent. (8 yearly. 7 7 6 6 7 7 12 7 61a 7 .7 7
In 1899, Jan., 4 p. o.
B onds.—All to be seoured by any future mortgage. See description
-on page 4, Supplement of April, 1895. Mortgages and ground rents
Nov. 1,1897, $164,002.
E arnings —11 months,J1898...G ross,$9,090,518; n e t,$2,508,804
Ja n. 1 to Nov. 30.
\ 1897...Gross, 8,348,818; net, 2,220.504
A nnual R eport .—Year ends Oct. 31. Report for 1396-97 was given
in V. 66, p. 232. In 1897-98, gross, $9,601,563; net, $2,480,671;
other income, $431,129; interest, taxes, rentals, etc., $1,809,073; divi
dends, $827,354; bal., surplus for year, $275,373. In 1896-97, gross,
*8 791.436; net, $2,387,231; other income, $450,400. In 1895-96,
gross. $9,047,131; net, $2,353,123. In 1894-95 gross, $9,142,532; net,
$2,6157642.—(V. 62, p. 139, 2 2 9 ; V. 64, p. 17 8 ,1 0 0 0 ; V. 66, p. 2 3 3 .
P i e d m o n t & C u m b e r la n d R y . —Road from W.V. C. Junction, W.
Va., to Cumberland, Md., 29 miles. In February, 1891, the road was
leased to the West Virginia Cent. <&Pittsb. Ry. till Aug. 1,1911, for 37
ner cent o f gross earns. Penn. RR. Co. on Deo. 31, 1897, owned
$200.000 o f the $650,000 stock—par $50—and also $100,000 bonds.
First div., 5 p. c., paid in March, 1894; in 1895, March, 6 p. c.; in
1896. Feb.. 6 p. c.; in 1897, Mar., 5 p. o.; in 1898, 4 p. o. For year 189495 profit to lessee, $20,289; in 1895-96, $10,633; in 1896-97, $5,159.
P i n e C r e e k R y . — Owns Stokesdale Junction, on the Fall Brook
Road, to Newberry Junotaon, Pa., 75 miles. Organization .—N. Y.
Central controls the capital stock and the road is leased to the Fall
Brook Railway Co., forming a connection between the Central and
the Philadelphia <fe Reading. The 1st mortgage is guaranteed by
the Central, the Reading and the Coming Cowanesque <& Antrim
/n0w Fall Brook Ry. Co.) jointly and severally. See form o f guaranty,
V. 56, p. 650. Stock, $1,000,000 (par,$50), of which July 1,1896, N. Y.
Central owned $999,000.
In 1895-6 rental (30 p. c. of gross) was $298.265. (V. 59, p. 3 7 6 .)
P i t t s b u r g A k r o n & W e s te r n .— See N orthern Ohio R t .
P i t t s b u r g B e s s e m e r & L a k e E r i e R R . — I See Map.)—Owns
line completed in August, 1897, from Bessemer, near Pittsburg,
Pa to Conneaut Harbor on Lake Erie, and Wallace Junction, Pa., 163
m iles; terminal in Erie, etc., Pa., 2 miles; branches, 28 miles; leases
Mead ville Conneaut Lake <&Linesville RR., Linesville to Meadville, 23
miles; trackage, N. Y. Chic. <fe St. L., to Erie, 12 miles; total, 228 miles.
Organization , E tc.—A consolidation Jan. 14,1897, of the Pittsburg
Shenango & Lake Erie and the Butler <fe Pittsburg (organized to build
the 42 miles from Butler to Pittsburg), whose stocks were exchanged
dollar for dollar for the stock of the new company ($2,400.000 new
consols being also given in part consideration for Butler <&Pittsburg
stock). Will carry iron ore south and coal north, its contracts with
the Carnegie Steel Works and others, it is said, insuring it a tonnage
o f 4,000,000 tons annually. Rails 100 pounds, maximum grades 30
feet. See further particulars V. 63, p. 1159; V. 65, p. 152.
The United States <& Ontario Steam Navigation Co. organized by
the P. S. <&L. E. runs boats for coal transfer, etc., between Conneaut
and Port Dover, Can., 60 miles. See V. 60, p. 872, V. 61, p. 241,795.
Stock .—Capital stock is $10,000,000; par $50.
B onds.—The old first mortgage of $3,000,000 covers the line from
Butler to Wallace Junction, 106 miles, and branches 28 miles.
The P. B. <&L. E. mortgage of 1897 is for $10,000,000 (trustee United
States Trust Co., N. Y.), covering all the railroad, property, rights and
franchises o f the consolidated company, including the agreement with
the Carnegie Steel Co., Limited, and the Union RR. Co. Of the new
bonds $4,800,000 will be reserved to retire at or before maturity a like
amount o f bonds outstanding on the Pittsburg Shenango <fc Lake Erie,
and $2,400,000, with interest accruing from August 1,1897, will be
issued in part payment to the stockholders of the Butler <fe Pittsburg.
The remainder of the new loan will be applicable to th e ‘ ‘corporate
urnoses” of the new company. Car trusts April 1,1898, $1,270,415.
onneaut gold equipment trust 6s mature $50.000 yearly on March 1
from 1900 to 1903, and $60.000 yearly irom 1904 to 1908, inclusive.
Bessemer equipment 6s $75,000 yearly on July 1 from 1899 to 1906.
g
E arnings .—Jan. 1 to Dec. 31, 1898 (12 mos.), gross, $1,311,861,
against $642,593 in 1897. Jan. 1 to Deo. 31 (12 mos.), gross, $642,593
in 1897, $639,512 in 1896. Of old company (on 187miles) for year end,
June 30,1896, gross, $658,079; net, $189,739 ; other income, $1,745 Chairman of the Board, Col. S. B. Dick, Meadville. Pa. (V. 66, p. 428.
P i t t s b u r g C k a r t ie r s & Y o u g h i o g e n y B y , —Owns from Char
tiers to Beechmont, 16 m. ; traokage (Chartiers Ry.), 1 m .; 17 miles in
all. Sto c k authorized, $1,000,000; par, $50; outstanding, $700,000,
owned jointly by guarantors mentioned below. D ividends —In 1895
4 per cent; in 1896,11 p ercen t; in 1897, none; in 1898, Feb. 15, 4
per cent. Of the 4 per cents issued, or to be issued, one-half are to be
endorsed with the guaranty of the Pittsburg Cincinnati Chioago <&St.
Louis, the other half with the guaranty of the Pittsburg <fe Lake Erie.
See guaranty, V. 56, p. 650. In year ending Deo. 31, 1897, gross,
$159,774; net, $69,873. In 1896 gross, $197,849 ; net $101,354.
P i t t s b u r g C in c in n a t i C h ic a g o & S t. L o u is R y . —('Fee Map.)
The system, clearly seen on adjoining map, includes:
Lines owned.
Miles. Lines ieos’ddTSee these co’ s.) Miles.
23
Pittsburg,Pa., to Chicago,111. 504 1TChartiers...............................
Rendcomb Jo. to Anoka J o ... 166 IfLittle Miami......................... 192
3
Bradford Jo. to Indianapolis. 104 Cincinnati Street Con. R y ...
28
Indianapolis to Jeffersonville 108 Pitts. Wheeling & K y ...........
Eng. Connecting Ry. in Chic.
2
Branches............................... 208
Other lines...............................
5
Total ow n ed......................... 1,090 Leased jointly with T. H. <h1.
H8t. Louis Vandalia <feT. H ... 158
Trackage—
Indianapolis to Kokomo.................. 55
Total of all Jan. 1 ,1 89 8 ...1 ,5 61
Louisville Bridge, etc.............
5
____
______|___
O
rganization
, «fee. Formed in 1890 by consolidation (per terms in V
50, p. 875) of Chicago St. Louis <fc Pittsburg, Jeffersonville Madison <fe
Indianapolis, Cincinnati & Richmond and Pittsburg Cin. & St. L. Con
trolled by Pennsylvania Co. and Pa. RR. Co. through ownership of stock.
Capital Stock .—The stock authorized is: Common, $45,000,000;
preferred, $30,000,000; par, $100. Outstanding Oct. 31, 1898. com
mon, $24,521,844; preferred, $22,677,143. Stook listed to Oct. 31,
1898, common, $25,539,300; preferred, $24,000,000.
The preferred stock is “ non-oumulative and entitled to a dividend
of 4 per cent per a nnu m 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 on both common and preferred, the tw o share pro rata.
D ividends .— ) 1891.
1892 to A p r.,’ 94.
Jan., 1896.
None
On pref. p. o.— )
3
4 yearly.
2 (for ’95.)
since.
Stock op Old Companies unexchanged Oct. 3 1 ,1 8 9 8 : Pittsb. Cin
«fe St. L. common, $30,150, Chic. St. Louis <fe Pittsb., common, $466,
717, and preferred, $11,752; Steubenville <fe Indiana, common, $85,645
and preferred, $2,950; Jeff. M. «fe I. $5,400.
B onds.—The consolidated mortgage for $75,000,000 (Farmers’ Loan
<&Trust Co. of N.Y. and W.N. Jackson, trustees,) covers the entire prop
erty. Sufficient consols are reserved for the purpose of retiring all seotional bonds at maturity, at which time they must be paid off. The
remainder are issuable for improvements, additions etc. They are
guaranteed unconditionally as to principal and interest by the Penn
sylvania Company, in accordance with the vote of its Board of Direct
ors, and are so endorsed. The four series are all equally seoured. See
adv. Chronicle May 21,1892, and guaranty, V. 56, p. 604.
G eneral F inances.—There are 4 per cent car trusts for $30,640
due August 1,1899. Series “ D ” bonds for $4,863,000 had been listed,
on N. Y. Stock Exchange to Jan., 1899.—V. 63, p. 1064.
L atest E arnings .—For 11 months ending Nov. 30:
11 months.
Cross.
Net.
Charges.
Balance.
$4,283,497
$3,110,332
$1,173,165
1898 ......... $14,754,186
1 8 9 7 !........... 13,580,709
4,307,036
3.014,218
1,292,818
ANNUAL REPORT.—Fiscal year ends Deo. 31. Report for 1897 was
given in full in V. 66, p. 756, 762; see also editorial, p. 735.
Year ending Dec. 31.
1897.
1896.
1895.
Miles operated (system proper) 1,151
1,151
1,151
Gross earnings
.......... . .
.$15,144,484 $14,370,362 $15,439,706
Operating e x p en ses...*....;.... 10,284,695
10,588,979 11,248,545
Net earnings......................... $4,859,589
$768,660
Net revenue of other roads—
25,171
Miscellaneous...........................
$3,781,383
$734,483
68,667
$4,191,161
$783,032
43,665
Total net earnings............... $5.653,421
Interest on b o n d s ........— . . . . $2,534,752
Rentals paid....................- ......... 1,040,908
Car trusts (including interest).
34,052
St. L. Y. <&T. H. &7 of loss.......
117,271
Miscellaneous.............................
*609,468
K. <fe H. Bridge suit, etc.................................
$4.584.533
$2,507,977
1,160,189
34,159
197,738
255,320
$5,017,858
$2,522,130
1,161,913
36,460
222,085
52,375
284,525
$429,150
$738,370
Balance, surplus........................ $1,316,969
None. (2%) $452,716
Dividends on preferred..............
............
* includes expenses in elevating tracks at Chioago, eto.
- ( V . 65, p. 824; V. 66, p. 7 5 6 , 7 6 2 ; V. 67, p. 737.)
121
BAILKOAD STOCKS AN D BONDS.
J a n u a r y , 1899.J
INYESTOKíS* S LTFELEMEN T,
1 2 2
[V ol. LXVIII,
S u b s c r ib e r s w i l l c o n fe r a g r e a t fa v o r b y g i v i n g Im m e d ia te n o tic e o f a n y e r r o r d is c o v e r e d In th e s e T a b le s .
Bonds—Prlnci
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
Par
of
of
Rate
per
When
Where
Payable,
and
by
Stocks—Lust
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
1 1890 $1,000 $10,000,000
Pittsburg Gin. Ohic. A St. L .—(Con.)— ( “ A,” g.c’
4 1« g. A. A O. N.Y.,Farmers’ L’n A Tr. Oct. 1, 1940
Con. M., $75,000,000, gold, guar. p.& i. J “ B,” g.c’ 1,090 11892 1,000 10,000,000
4 ^ g. A. A O.
do
do
Apr. 1, 1942
11892 1,000
(end.) by Pennsylvania Company. . . j “ C,” g.c’
2.000,000
4)3 g. M. A N.
do
do
Nov. 1. 1942
J1895 1,000
1“ l»,” g.c’
5,863,000
4 g. M. A N.
Nov. 1, 1945
77
1882
1,000
Pittsb. Cleve. A Toledo—lstM .,gold,int. guar. B.AO..
2,400,000
6 g. [A. A O. N. Y., Cent. Trust Co. Oct. 1. 1922
1895
1,000
1st consol. M., $4,000,000, gold, int., guar.......c'
Pledged.
4)3 g. F. A A.
Aug. 1, 1945
470
100 19,714,286
Pittsb.Ft. Wayne ft O.—Gen. stk., 7 p. c. guar. Pa. RR
7
Q.—J. N. Y., Winslow, L. A Co. Jan., *99,1 %%
100 19,496,300
Guaranteed special imp. stock, 7 p. c. guar, by end 470 1871
7
Q.—J.
Jan.,
’9 9 ,1%%
1st mortgage, series A to F ) Sink, fund, cumula " 468 1862 500 Ac.
5,250,000
7
Various
do
do
July 1, 1912
468 1862 500 Ac.
2d
do
series G to M 5 tive, not drawn.c’
5,160,000
7
Various
do
do
July
1, 1912
468 1862 500 Ac.
3d mortgage............................................................
2,000,000
7
A. A O.
do
do
July 1, 1912
....
50
Pittsburg Junction—Stock, common.......................
....
960,000 3 in 1898 M. A S.
Sep.
1/98,1
*3%
50
Preferred ($480,000), 7 per cent, cumulative....... . . . .
480,000
7
October
Oct., ’98, 7%
7 1882
1,000
1st mortgage, $1,640,000 gold.............................c*
1,440,000
6 g. J. A J. N.Y.jN.City Bk. A Pitts. July 1, 1922
2d mortgage, for $500,000, g o ld ......................... c* . . . . 1894
1,000
300,000
5 g. J. A J.
do
do
July 1, 1922
Pitts. June. Terminal 1st M., gold, guar. p. & i . .. . . . .
500.000
5 g. A. A O.
Pittsburg.
Oct. 1, 1907
1898
Equipment lease warrants, July 1, 1838.............
632.000
Quar’ly.
Qr. to A pr./08
Pittsburg A Lalte Erie—Stock.....................................
50
4.000.
000
10 in ’ 98 F. A A. Pittsburg, Co.’s Office. Feb. 1, ’99, 5%
V i 1878
1st mortgage, gold...................................................c
1,000
2.000.
000 6 g. J. A J.
do
do
Jan. 1, 1928
2d mortgage, gold, Series A. & B .......................... c
71 1889
1,000
2,000,000
5 g. A. A 0. N. Y., Security A Tr. Co. Jan. 1, 1928
Pittsburg McK. A Tough.—Stock guar., see text.......
1884
50
3,959,650
6
J. A J. N. Y., Union Trust Co. Jan., ’99, 3%
1st mortgage, guar, by P. A L. E. and L. S. A M. S.c ” 57 1882
1,000
2,250,000
6
J. A J.
do
do
July 1, 1932
2d M., gu.p.&i. (end.) by P. &L. E. and L.S. AM. S.c
57 1884
1,000
900,000
6
J. A J.
do
do
July 1, 1934
McKeesport & Belle Vernon, 1st M., gold, assumed
28 1888
1,000
600,000
6 g. J. A J. Pittsb’g, Fidelity Tr.Co. July 1, 1918
Pitts. Ohio Val. A Gin.—1st M. gold, s. f. not dm .c*
15 1890
1,000
290,000
5 g- A. A O. Phila., Broad St. Sta
Oct. 1,1920
Pittsb. Painesville A Fairport—1st M., gold, int. gu.c*
63 1886
1,000
1,000,000
5 g- J. A J. N. Y., Mercantile Tr. Co. July 1, 1916
Terminal mort., interest guar, by Pittsb. A West.
1889
1,000
250,000
5
J. A J.
do
do
July, 1916
Pittsburg Shenango A L. E.—See P ittsburg B essb MER & L ake E rie .
Pittsburg Virginia A Oharleston—Stock ($6,000,000)
77
50
3,770,700 5 in 1898 M. A N. Philadelphia Office. Nov. 1, ’9 8 ,2ifl
Cons. M., g., s. f., not dr’n, series A ,...........G P c”
77 1895
1,000
3,431,000
do
do
4)3 g. A. & O.
Apr. 1, 1925
Pittsburg A Western—Rec’rs ctfs. July 1,1898........
1,582,800
5A6
1st m., ext. in gold, Pittsburg Newcastle & L. E..
*80 1878 100 Ac.
219,000
J.
A
D.
Allegheny,Pa.,IstN.Bk.
4 g.
June 1, 1918
Old Pittsburg A Western 1st mortgage..........
45 1880 500 Ac.
81,000
6
A. A O. N. Y ., J. P’. Morgan A Co. Oct. 15,1900
P i t t s b u r g C lev ela n d . Sc T o le d o R R . — From Newcastle Junction, authorized, $1,750,000. Profit to lessee in 1897, $1,236, o f which
Pa., to Akron, O., 77 miles. Stock, $3,000,000 (par $50), of which Balt. one-half was payable to the Lake Shore A Michigan Southern.
A Ohio RR. owns $1,505,000. Leased in July, 1884, for 99 years to
P i t t s b u r g O h io V a ll e y Sc C in c i n n a t i R R . — Owns road Bell
Pittsburg A Western. V. 39, p. 607. Description of mortgage, etc.
s>. 7 Supplement of April, 1896.) Interest on the 1st consol, mortgage aire, O., to Powhatan, O., 15 miles. Operated for cost by Pennsylvania
413s is guaranteed by endorsement by the Pittsburg & Western and the Company in connection with Cleveland & Pittsburg since Deo. 1,1892.
Baltimore & Ohio; mortgage trustee is Mercantile Trust Co., N. Y. Stock, authorized, $1,500,000; outstanding, $290,000; par, $50. Trus
In Nov., 1898, was to loan $500,000 to Pitts. & West, on 6 p. c. re tee of mortgage (for $1,500,000), Fidelity Ins., etc., Co. of Phila. Year
ending Deo. 31, 1897, gross, $3,738; def. under oper. exp., $5,509;
•ceiver’s certificates. (V. 67, p. 1111.)
E arnings.—Year 1897-98, gross, $1,048,302; net.$337,615; interest, interest, $14,500; def. for year, $20,009.
P i t t s b u r g P a ln e s v ll l e Sc F a lr p o r t R R . — Owns Fairport, O.,
taxes, etc., $289,011; balance, surplus, due lessor, $48,604. In
1896-97, gross, $755,231; net, $259,976; In 1898, Jan. 1 to Deo. 3 1 , to Youngstown, etc., O., 53 miles. Operated at cost by Pittsburg A West
gross, (12 mos.),$1,063,595; $907,290in 1897. (V.67,p. 1 1 0 7 ,1 1 1 1 ) ern, but Interest of bonds is guaranteed. See description of mortgage,
P it t s b u r g & P a s t e r n R R . —In October, 1897, com plete! and etc., p. 7, S upplement of April, 1896. Common stock, $800,000; pre
•opened from Mehaffey, Pa., on Beech Creek RR., to Fuller Run, 11 ferred, $250,000 (par, $100), of which in 1892 the Pittsburg & Western
miles, and in Jan., 1899, it was reported that construction was about purchased all the common and $160,000 preferred. For year ending
to be pushed from Fuller Run to West Newton, making a total of 140 June 30,1898, gross, $397,219; net, $124,435; int.,taxes,etc., $109,351;
miles. The road is projected to enter Pittsburg over the Pittsburg balance, surplus, $24,084. In 1896-97, gross, $349,912; net, $66,588.
McKeesport & Ypughiogheny RR., total about 150 miles. Capital In 1895-96, gross, $377,296. In 1898, Jan.1 to Dec. 31 (12 months),
«took authorized is $5,000,000; par $50. Road is being built with cash, gross, $372,894; in 1897, $373,205. (V. 65, p. 1 1 6 9 ; V. 67, p. 1 1 0 7 .)
P it t s . S h e n a n g o & L a k e E r ie .— See P itts . B essemer & L . E r ie .
from stock, which is being issued as required. President, C. C. Watt;
Treasurer, L. V. Biggs; office, Land Title Building, Philadelphia.
P i t t s b u r g V ir g in ia Sc C h a r le s t o n R y . — From South Pittsburg.
See V. 61, p. 153.
Pa., to Brownsville, Ac., Pa., 77 miles.
Organization .—Operated by Pennsylvania RR., which owned Jan. 1,
P i t t s b u r g F o r t W a y n e Sc C h ic a g o R y . —(See Map Penn. R R .)—
R oad .—Owns from Pittsburg, Pa., to Chicago, m ., and br., 470 miles. 1898, $3,381,850 stock, and all the consols, and pays net earnings
as rental, the consols, being pledged under “ coll, trust of 1883.”
Double track, 271 miles, of which part was built in 1893.
L ease , &c.—Foreclosed Oct. 24, 1861, and reorganized. From July
D ividends .— ) 1892. 1893. 1894. 1895. 1896. 1897.
1898.
1, 1869, leased in perpetuity to the Penn. RR.; rental pays in
P e r c e n t ...)
5
5
3
5
5
5
5
terest, sinking fund of debt and 7 per cent on stock. The lessee keeps
E arnings.—Y ear ending Deo. 31,1897, gross, $1,605,270; net, $672,ffoad in repair and pay taxes and expenses.
135; other income, $2,597; fixed charges, $188,583; dividends (5 p. o.).
Capital Stock .—The special improvement stock is issued to Penn
P it t s b u r g Sc W e s te r n R y . —
sylvania RR. for improvements, Ac., under article 16 of lease, which
Lines owned in fee—
Miles. Elwooa Short Line—
provides that the lessor may issue special bonds or stock. See V. 50, p. Allegheny,Pa.,toN. Sewickly. 46
N. Sewickley to Rook Point. 3
139, and wording of endorsement in V. 56, p. 774. The special stock RockP oint,Pa.,to Newcastle 11
Leased and controlled—
Miles.
Is in all respects subject to the general or prior stock and “ to the Frisco to Crowthers.................. 6 Pitts. Cleve. & Toledo li............ 77
rights o f holders of said general or prior stook to have distributed to Callery Juno, to Butler............. 13 Pitts. Painesville & Fairport IT. 53
them in quarterly instalments an annual dividend fund of $1,380,000 3-ft. gauge lines to Jewett, e tc.134
free of all taxes.” Since Jan. 1, 1891, guaranteed special stock has (Double track...............................23)
Total (ITsee this 00.)...............343
been issued for betterments; in 1892, $2,107,820; in 1893. $1,916,253;
Organization , E tc.—In Feb., 1891, the Baltimore A Ohio bought
in 1894, $1,916,200; in 1897 (July), $283,691; in 1893, $335,300.
$6,515,000 common stock. (V. 65, p. 983; Y. 55, p.237.)
B onds.—The first mortgage is in series of $875,000 each and second
R eceivership .—On March 2, 1896, President Thomas M. King was
mortgage of $860,000. Of the above 1st mortgage bonds, $3,403,843
and of the second mortgage $3,744,692, and $2,845,179 cash, were held appointed receiver. Receiver’ s certificates (1st series) for $500/)00 is
subject
to lien of first mort. 4s for $10,000,000. A second series of certifi
In the sinking funds Jan. 1,1898.
cates for $400,000 were authorized in July, 1897, and made a lien
A nnual R eport .—Report for year ending Dec. 31,1897, was in V prior to the firsts. V. 65, p. 70. In Nov., 1898, permission was o b
67, p. 25, showing loss to lessee, $229,911; loss in 1896, $587,097^ tained to borrow $500,000 from the Pitts. Cleve. & Tol. Ry. on 6 per
1OSS in 1895, $57,743.—(V. 65, p. 2 5 , 112; V. 66, p. 1141; V. 67, p. 25| cent certificates, proceeds to be applied for improvements and exten
P i t t s b u r g J u n c t i o n R R . — Owns 69 0 miles of tracks at Pitts sions. V. 67, p. 1111. In June, 1898, the Ellwood Short Line was
burg, Penn., connecting the Baltimore & Ohio and the Pittsburg purchased. V. 66, p. 1090, 1190.
& Western, which companies in 1882 agreed to pay the Pittsburg
2 nd M >rt. Committtee .—In Oit., 1898, this committee, holding
Junction $2 for each car passing over its road, but charge reduced to $2,000,000 bonds, effected a sale to Lake Erie & Western interests at a.
$1-50 per car when the company’ s gross earnings amount to $270,000 price which will net certiricate holders 72Lj. V. 67, p 789, 843.
and to $1 per car when gross reaches $300,000 in any one year. See Bal
1st 4 s of 1887.—A s reorganization was expected, J. P. Morgan A
timore & Ohio statement for terms offered this company’s securities
In reorganization of 1898. Junction’s Company’s directors disapprove Co. in Dec., 1898, requested deposits under an agreement giving the
firm power to dispose of the bonds or deliver them under a reorgan
the proposition; see V. 67, p. 688, 788, 954,1054.
izan plan, for par and interest, or, at the holder’s option, for the new
Report for 1897-98 was in V. 67, p. 1158, show ing: Gross, $392,401! securities to be offered under the plan, (V. 67, p. 1264.)
net, $207,711; int. and taxes, $125,899; sur ,$81,811. In 1896-7, gross,
Stock .—Common, $8,500,000; preferred, $5,000,000, 5%uon-oum.;
$352,769; net, $208,990. Dividends of 7 per cent are paid on pre
ferred; on common in 1895, 4 p. o ; in 1896, 3*2 p. c.; in 1897. 3; in par, $50. Balt. & Ohio owned June 30,1898, $6,515,000 com, stock
B onds.—For abstract of first mortgage (trustee, Mercantile Trust
1898, 3 p. C. (V. 67, p.688, 783, 954,1056, 1 1 5 8 .)
Company) see V. 45, p. 439. Second mortgage for $3,500,000 is a first
P i t t s b u r g Sc L a k e E r ie R R . — Owns from Pittsburg, Pa., to lien on terminals at Youngstown, O. Of the $3,500,000 seconds given
Youngstown, O., 68 miles; branch lines to Newcastle, Pa., 3 miles; total as outstanding, $1,360,000 unsold June 30,1898, it is understood are
owned, 71 miles (of which 66 double track); leases Pitts. McKeesport & pledged for loans. See mortgages, etc., p. 7 S up’ t . of April, 1896.
Yough. (which see), 100 miles; Mahoning State Line RR., 3 miles, and
Coupons.—Interest on 2d mortgage 5s due May 1, 1896, was not
Beaver & Ellwood RR., 3 m iles; total operated, 177 miles. Owns
$139,850 stock of Pitts. Chartiers & Yough. P. & L. E. is operated in paid. First (consol.) 4s, interest due Jan. 1,1899, was paid.
interest of L. S. & Mich. So., which owns $2,050,000 of stock. Real
G eneral Finances.—On June 30,1898, there were real estate mtges.
«state mort. Deo. 31,1897, $220,500.
$311,375; bills payable, $1,947,019; current liabilities, $1,024.702.
Contra:
Advances to subsidiary roads, $1,077,900; materials, eto., on
D ividends .— <1884-’91. ’ 92. ’ 93. »94. »95. >96. »97,
>93,
hand, $117,319; current assets, $1,253,096. Interest is guaranteed on
Per cent. ( 6 yearly.
8
10
10
10
10
10 10
$1,250,000 Pitts. Painesville & Fairport bonds. Car trusts June 30,1898,
A nnual R eport .—For year ending Dec. 31, 1897, gross, $4,666,686;
including interest; receiver’s certificates, $472,800 bearing
net, $1,441,993; other inoome, $15,920; interest, $220,000; rental, $992,755,
per cent interest, and $610,000 bearing 5 percent; total, $1,08 2,800.
$470,011; interest on real estate mortgages, $14,871 ; dividend (10 6
As
to
$500,000
additional certificates authorized in Nov., 1898. see
p. c.), $100,000; bal., surplus, $358,031.—(V. 66, p. 7 08.)
above.
P i t t s b u r g M c K e e s p o r t Sc V o u g h io g ls e n y R R . — Owns from
E arnings.—5 months, 5 1898........... Gross, $1,446,832; net, $435,768
Pitts, to N. Haven, Pa., 57 m.; McKeesport to Fayette City, Pa., 31 m.;
July 1 to Nov. 30. (1897............Gross, 1,423,035; net, 434,580
branches, 11 m.; leases 2 m.; total, 100 m., of which 20 m.doubletrack.
.—Fiscal year ends J une 30. Report for 1897-98 was given
L ease .—Leased to Pittsburg & Lake Erie RR. for 999 years. Rental inRV.eport
67, p. 1052, showing earnings as follows, including leased lines:
is 6 per cent on the stock, principal and interest of the Pittsburg McK.
Gross.
Net.
Int. A taxes.
Batanee.
A Yough. bonds being guaranteed by Pittsburg & Lake Erie and Lake lo June 30—
$964,415 $1,007,562 def.$38,167
Bhote & Michigan Southern companies, the guaranties being endorsed on 1897-98..................... $3,221,406
956,084
1,002,370 def.$46,286
the share certificates and bonds. The guaranty of the stook is on the 1896-97.....................$2,768,507
981,223
945,971 sur. 35,252
express condition that the holder shall accept par for the same on July 1895-96.................... 3,091,302
1, 1934. See wording of guaranty in Y. 56, p. 774. Stook authorized, - ( V . 65, p. 70, 1 1 6 9 ; V. 63, p. 811, 1090, 1190; V. 67, p. 127, 789,
$4,000,000; first mtge. bonds authorized, $2,250,000; 2d mtge. bonds 1004, 1 0 5 2 , 1111, 1164.) ,
RAILROADS.
J a n u a r y , 1899.)
.RAILROAD
STOCKS
AKD
BONDS,
123
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
RAILROADS.
Bonds—Princ «
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due*
Amount Rate per When
For explanation of column headings, &c., see notes of
of
Par
Where
Payable,
and
by
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Pittsburg dk Western—(Concluded) —
1st (eonsol.) mortgage for $10,000,000, gold....c* 210 1887 $1,000 $9,700,000
4 g. J. & J. N.Y., J. P. Morgan & Co. July 1, 191T
2d mortgage for $3,500,000, g o ld ......................c* . . . . 1891
1,000
3,500,000
5 g. M. & N. Nov., ’95, coup, last pd. May 1, 1941
Foxburg Bridge Co. 1st M., guaranteed by P. & W. . . . . 1882
100,000
6
M. & 8. N. Y., Union Trust Co. Sept. 1, 1902
Ellwood Short Line, 1st M., gold, gu. by P. & W.
3 1890
1,000
300,000
5 g. F. & A.
New York City.
Aug.. 1920
Pittsb. Toungsl. dkAshtab.—Com. stock, $2,000,000 125
....
50
1,333,342 See text. M. & S. N. Y., Farm. L. & Tr. Co. Sept. 24,'98, B
Preferred stock, $2,000,000.................................... 125
50
1,700,000 7 in 1898 M. & 8. N. Y., Far. L. <fe Tr. Co. Sept. 4,’98,31aAshtabula & Pittsb. 1st M., Y’ngst’n to Asht.o*&r
62 1878
1,000
1,500,000
6
F. & A. Phila., Fidelity Tr. Co. Aug. 1, 1908
Consol, mort. (for $4,000,000) s. f. 1 p.o., not dr.n' 125 1887
1.000
1,562,000
5
M. & N. N. Y., Farm. L. & Tr. Co. Nov. 1, 1927
Pontiac Oxford dk Northern—1st M., g., $400,000.e*- 100 1896
1,000
300,000
J.
& J. N. Y. Mero’le Trust Co. July 1, 1916
6 gPt. Jervis Monticello dkN.Y.—1st M.,($225,000) gold —
1894 100 &o.
4 ’eg. J. & D. N. Y., Cent. Trust Co. June 1, 1944
225,000
1st consol, mortgage, ($75,000) gold....................
1896
None 1897.
J. & D.
1916
Portland dkRochester.—Stock, $600,000.................. ___
100
! * • J. 15-J.
592,070
Jan., ’99, 3%
Terminal bonds (no mtge.), int. guar. B. & M.... o . . . . 1892
500
113,500
4
A. & O. Boston, North Nat. Bk. Oct. 1, 1907
Portland dkRumford Falls.—Stock............. ..............
100
1,000,000 4 in ’98 Q.—M.
Boston.
Dec., ’98,1%
Consol., now 1st, mort., $1,000,000, gold..O B .c* *64 1896
1.000
1,000,000
4 g. M. & N. Boston, Old Colony Tr. Nov. 2, 192©
Plain bonds, sinking fund, gold, $350,000........ c
1897 5Ò0 &c.
350,000
4 g. F. & A. Boston and Portland. Aug. 1, 1927
Portland Saco <6Portsmouth—Stock (guar, by rental)
51
100
1,500,000
6
J. & J. Boston. Treasur. Office. Jan. 15,*99,3%
Port Reading.—1st M., g.,guar. by old P.&K....e*<fcr
20 1891
1.000
1,500,000
Philadelphia.
5 g. J. & J.
Jan. 1. 1941
Portsmouth dk Dover—Stock, 6 p. o. guar. East. Mass.
11
....
100
769,000
6
J. & J. Treas. B. & M , Boston. Jan., ’99, 39k
Potomac Valley—1st M.$2,000,000, g ,g u M e B a o*&r
15 1891
1,000
1,100,000
5 g. J. & J. Baltimore, Htilen St’n. Jan. 1, 1941
Prosp. Pk. dk0 .1.—2dM. no w l st ¡$160,000are 6s) o*&r
10 1886
1,000
500,000 413 & 6 F. & A. N. Y., U. S. M. & Tr. Co. Feb. 1, 1926
3d mort., now 2d, gold ($104,000 are 6s).......c*&r
10 1891
1,000
200,000 4 1e & 6 g. M. & S.
do
do
Mch. 1, 1931
Income bonds, non-cum..........................................
250,000
May 1, 1920
Providence dk Springfield—1st M. gold................... o'
30 1892
1,000
75o;ooo
5 g. J. & J. Provid’ce, Globe N. Bk. July 1. 1922
Providence dk Worcester—Stock (10 per cent rental).
51
100
3,500,000
10
Q.—M.
Providénce, Office.
Deo.31,’9
8 ,2 1*
1st mortgage, currency, $1,500,000........ .......... c*
51 1897
1,000
1,500,000
4
A. & O. Prov., R.I. Hosp. Tr. Co. Oct. 1, 1947
Queen Anne’s.—IrtM . $12,000 per mile (?)...........
(?)
Q. O. dk E. O. RR.—1st mort., gold, red. at par...o* 134 1897
1,000
250,000
6 g. J. & D. N.Y., Gilman, Son & Co. Sept. 1 2 ,1900Guar. Tr. etfs. o f dep. for old 1st M. non-pref. 5s. 134
....
1,000
1,446,000
2-4
M.12&S N.Y., checks mailed.
See text.
Quincy RR. Bridge Co.—Stock, 10 per cent rental.
100
1,750,000
10
J. & J.
Boston.
Jan. 2, ’99, 5 %
P it t s b u r g Y o u n g s t o w n s e A s h t a b u la R R . —Owns Kenwood,
Pa., to Ashtabula Harbor, O., 99 m iles; Niles to Alliance Junction, O.,
25 miles; Canfield Branch, 1 m ile: trackage, 3 miles. Total, 128 miles.
Organization .—Leased August 1, 1887, to Pennsylvania Com
pany, wnich Jan. 1,1898, owned $375,000 common and $1,550,000 pre
ferred stock; rental net earnings. Lease terminable at either’s option
D ividends . ) 1890. 1891. 1892 to 1895. 1896. 1897.
1898.
Common, p. ct. > 2 ^
3
6 yearly.
6
6
On preferred, 1888 to Jan., 1899, 7 per cent yearly (M. & S.)
B onds.—Bonds o f 1887 (trustee, Farmers’ Loan & Trust Co.) are re
served to retire divisional bonds; Lawrence RR. first 7s due Aug. 1,
1895, were paid, but no consols issued therefor. A sinking fund of 1
per cent purchases bonds of 1887 at par, if offered.
E arnings.—11 months,) 1898........Gross, $1,364,876; net, $401,366
Jan. 1 to Nov. 30.
51897........Gross, 1,349,607; net, 519,572
In year ending Deo. 31,1897, gross, $1,454,976; net, $517,345; int.,
$168,100; other charges, $484,492. In 1896, gross, $1,384,717: net,
$436,713; dividends (7 p. o. on preferrea and 6 p. o. on common),
$198,749; balance, deficit, $ 3 3 3 ,9 9 6 .-(V. 63, p. 26.)
P l a n t S y s te m .—This system, so-called because of the large interest
owned in it by the Plant Investment Company, of which H. B. Plant is
President, unites Charleston, S. O. with Montgomery, Ala., and also
with Tampa and other Florida points. The system includes the fol
lowing roads, described under their own titles, excepting the Bruns
wick & Western included with Savannah Florida & western :
71T 'ì.I p.s
Mi'es.
Savannah Florida & Western 8>-9 Florida Southern.................... 247
Charleston & Savannah........ 159 Sanford & St. Petersburg..., 152
Brunswick & Western.......... 171 St. Johns & Lake Eustis.......
48
Alabama Midland.................. 235
Silver Springs Ocala & Gulf.
66
Total.......................... ....... 1,967
P o n t i a c O x fo r d Sc N o r th e r n R R . — Operates road from Pontiac,
Mich., to Case ftile, Mich., 100 miles. Capital stock is $1,000,000.
all held by the Hale Estate in New York. Bonds for $100,000 are
held in trust until net earnings are $40,000 per annum. Mortgage
trustee, Mercantile Trust Co.. N. Y. In year 1897, gross, $127,303;
net, $37,625; interest, $18,000; special improvements, $10,910; bal
ance, surplus, $8,715. In 1896, gross, $118,228; net, $37,192. Divi
dends: In 1890,1 p. o.; 1891, 3 p. o.; 1892, 4 p. c.; 1893, 6 p. c.; 1894,
4 p. c.; 1895, 3 ^ p. o. President, Hugh Porter, N. Y.
P o r t J e r v i s M o n tic e llo Sc N e w Y o r k R R . — Owns Port Jervis,
N. Y., to Monticello, N. Y., 24 miles, and Huguenot to Suinmitville, 18
miles. Stock authorized, $500,000; outstanding, $409,100; par, $100.
June 30, 1897, loans and bills payable. $17,288; car trusts $6,150.
In year ending June 30, 1897, gross, $49,288; net, $19,894; charges,
$16,032; balance, surplus, $3,862. President (Aug., 1898), Addison
B. Colvin. Y. 67, p. 275.
P o r t l a n d A R o c h e s te r R R . — Owns road from Portland, Me.,
to Rochester, N. H., 54 miles, ¡-took (authorized, $600,000; par $100);
issued $592,070. Notes payable June 30,1898, $15,500. Terminal
bonds issue limited to $113,500; there is no mortgage, but any subse
quent mortgage is to provide for these bonds. Interest on the terminal
bonds is guaranteed by the Boston & Maine. Dividends since July,
1886, to Jan., 1899, inclusive, 6 p. c. per annum.
E arnings.—For year ending June 30, 1898, gross, $253,373; net,
$51,177; taxes and int., $7,560; dividends (6 p. c.), 35,524; interest on
bonds was paid by B. & M. RR. In 1896-97, gross, $242,419; net,
P o r t l a n d Sc R u m fo r d P a l l s R y . — Owns road Rumford to Rumford Falls, 53 miles; branch to Otis Falls, 10 miles; trackage (Maine
Central) Rumford to Lewiston, 4 miles; total operated 67 miles.
Stock .—Stock, increased from $300,000 in 1896. Dividends—In
1896,5 p. c.; in 1897,4 p. c.; in 1898, Mar. 1 5 ,1 p. c.; June 15,1 p. o.;
Sept. 15,1 p. c.; Deo. 1 ,1 p. c.
B onds.—The consol, mortgage of $1,000,000 was issued for refund
ing, etc.; it is now a first lien. Sinking fund for consols 23 p. c. of all
consols issued; bonds cannot be called. The plain bonds of 1897 were
issued for floating debt.
A nnual R eport.—Report for 1897-8 was in V. 67, p. 951.
Year—
Gross.
Net. Int.,tax.,etc. Dividends. Bal.,sur.
1897-98.......$299,045 $123,978
$66,282 (4' $40,000
$17,696
1896-97....... 262,624 109,445
52,878 (4^) 30,000
26,567
- (V. 63, p. 5 0 2 , 970; Y. 64, p. 235; V. 65, p. 236, 5 6 7 , 685, V. 67, p.
9 5 1 .)
P o r t l a n d Saco Sc P o r t s m o u t h R R . — Portland, Me., to Ports
mouth, N. H., 51 miles. It was leased May 4,1871, in perpetuity to
the Eastern Railroad, Mass, (now merged in Boston & Maine), at 10 p. 0.
on stock. Lease rental changed May 21,1877, and now 6 per cent.
P o r t R e a d i n g R R . — Owns 20 m. of road, completed in Sept. 1892,
from Bound Brook, N. J., to Staten Island Sound, where extensive
terminals were established. Capital stock authorized $2,000,0 0 0 outstanding, $1,565,000, par $100, all owned by Reading Company,
$1,555,000 being deposited under its general mortgage of 1897. “ Other
indebtedness,” $247,481 July 1,1895. For year ending June 30,1897,
gross, $316,148 ; net, including other income, $178,083; total deduc
tions, $89,806; balance, surplus, $88,277. (V. 55, p. 544, 639. 680.)
P o r t R o y a l & A u g u s t a R y . — P o r t R o y a l Sc W e s te r n C a r o »
l in a R y . —Merged in Charleston & Western Carolina Ry.—which see
P o r t s m o u t h Sc D o v e r R R . — Portsmouth, N. H., to Dover, N. H.,
11 miles. Opened Feb. 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. Lease assumed by Boston & MaineP o to m a c V a ll e y R R . — Opened in Sept, 1892 , Potomac Valley
Juno., Md., to Cherry Run, W. Va., on the B. & O., 14 miles, and
from Porters, Pa., to York, Pa., 17 miles; total, 31 miles. Capital
stock, $500,000 ($50 shares). Leased to Western Maryland, the bonds>
of 1941 having principal and interest guaranteed, jointly and sever
ally, by the Western Maryland RR. Co. and the Baltimore & Harrisburg
Ry. Co., and being so endorsed. The bonds have a sinking fund of 7 - 1©
o f one per cent. Earnings for year ending Sept. 3 0 ,18 9 7 : Gross, $ 146 .379 ; net, $ 79,729 . In 1895 6 , net, $91 ,851 . (V. 52 , p. 121 ; V. 66 , p. 130 . >
P r o s p e c t P a r k Sc C o n e y Isla n d . R R . — Owns from 9th Ave. and
20th Street, Brooklyn, to Coney Island, etc., 5’68 m iles; leases to
Coney Island Point, etc., 3-97 miles. Stock is $250,000; par, $100.
H istory .—The Long Island RR. acquired controlling interest in stock
in 1893, and in consideration of a guaranty by that company, annual
interest on the greater part of P. P'. & C. I.’ s bonded debt was reduced
from 6 and 7 per cent to 4*a per cent. See V. 56, p. 4 2 ; V. 62, p. 187.
On June 30,1898, there were $353,500 loans and bills payable. First,
mortgage bonds for $500,000 due Jan. 1,1895, were paid. M ortgage»
on real estate, 5 p. c., $29,706 on June 30, 1898.
Year—
Gross.
Net. Other income. Int., taxes,etc. Balance.
1897-8...... $138,184
$3,057 $26,415
$79,970
def.$50,497
1896-7...... 131,653
df.2,415
26,155
78,077
def.54,337
—(V. 65, p. 6 1 9 , 869; V. 66, p. 336, 954.)
P r o v id e n c e Sc S p r in g fie ld R R . —Providence, R. I., to Douglas,.
Mass., on the New England main line, 30 miles. Stock.is $517,450 (par,
$100), mostly owned by the N. Y. New H. & Hart. V. 61, p. 1014. Road,
leased (terms modified in July, 1896,) to New England RR. till July
1,1989, at 4 per cent on stock. See V. 63, p. 30, and New England.
RR. report V. 63, p. 698. The bonds were guaranteed by the N. Y. <fe
New England. In 1893 gross, $182,450; net, $28,073.—(V. 63, p. 30.)
P r o v id e n c e Sc W o r c e s te r R R . — Owns from Providenoe, R. I., to
Worcester, Mass., 44 miles, of which 5 miles are owned jointly srttb
Boston & Providenoe; branches, 7 m iles; total operated, 51 miles 4
From July 1,1892, leased for 99 years at 10 per cent per annum on the
stock to the N. Y. N. H. & Hartford. Extra dividend of 4 1« p. c. was
paid out of assets in March, 1893. The new currency 4 p. 0. bond»
(trustee Rhode Island Hospital Trust Co.) for $1,500,000 were author
ized in Dec., 1896, to retire a like amount of 6s due Oct. 1,1897.—V
63, p. 1064. Total surplus June 30,1898, $216,725.—(V. 63, p. 1064. *•
u e e n A n n e ’ s R R . —Projected from Baltimore, Md. to Lewes.
„ and Rehoboth Beach on Atlantic Ocean, about 96 miles. Oper
ated from Queenstown to Lewes, 60 miles. Pennsylvania track»
used between Lewes and Rehoboth, 6 miles; was to be bonded fo r
$12,000 per mile and stock issued at same rate. 1st mortgage bonds,
Gdn. Trust & Dep. Co. of Balt., Trustee, are said to have been is
sued. President, William H. Bosley, Baltimore; Sec., A. H. Taylor.
Q u in c y O m a h a Sc K a n s a s C it y R R . —West Quincy to Trenton*.
Mo., 134 m iles: trackage (C. B. & Q.), to Quincy, 3 miles.
H istory .—Incorporated June 1,1897, and acquired, from the bond
holders’ committee representing the non-preferred bonds, the property
of the old Railway foreclosed, paying therefor $250,000 1st mortgage
6s and $1,500,000 capital stock (which is deposited with the Guaranty
Trust Co. of N. Y.). The new company has leased its road, under the
terms of the reorganization agreement, to the Omaha K. C. & Eastern
until Sept. 12,1900, with option to purchase—see that company. T.ie
Q. O. & K. C. non-preferred bonds (as evidenced by the receipts o f to e
Guaranty Trust Co.) are to receive either 70 p. c. in cash or 80 p. 0. in
new firsts and 40 p. 0. in 2d mortgage incomes of the Omaha K. 0. & E.
E arnings.—Jan. 1 to June 30 (6 months), gross, $144,336 in 1897 ;
$147,125 in 1896. For calendar year 1896, gross, $294,711.
Year—
Gross.
Net.
Int., taxes, etc.
Balance.
1896-7...............$290,952
$72,646
$127,879
def. $55,233
1895-6.............. 289,741
112,111
24,276
sur. 87,835
—(V. 64, p. 84,181, 470, 800, 954; V. 65, p. 195.)
Q u in c y R R . B r id g e C o .— Owns bridge 1*43 miles long over the
Mississippi River at Quincy, 111. Leased Jan. 1,1869, fo r 100 years to
C. B. & Q., Toledo Wabash & Western (now out of existence) and Han
nibal & St. Joseph railroads at annual rental of $175,000, which
equals 10 per cent on the stock. In 1898 the Kansas City Pittsburg <fe
Gulf was said to have acquired a lease from the C. B. & Q.
R a l e i g h A A u g u s t a A ir L in e R R . — Owns from Raleigh, N. C. *
to Hamlet, N. C., 97 miles; Hamlet to Gibson, 10 miles; leases Moncure to Pittsboro, 12 miles; total, 119 miles. Controlled by Raleigh A
Gaston, which July 1,1893, owned $772,200 stock, and so by Seaboard
& Roanoke. Stock is $873,600; par, $100. R. & A. first 6s are en-
a
12<l
INVESTORS’
SUPPLEMENT
[Vol. LXIVIII.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v i n g im m e d ia t e n o tic e o f a n y e r r o r d isco vered , i n tb e s e T a b le s .
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,^When Due
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
Par
per When
of
Tor explanation of column headings, &c., see notes of
Outstanding Rate
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Raleigh <k Augusta—1st M., guar. p. & i.. R. & G.o* 107 1886 $1,000
’93-’96
Seaboard Air Line, Ser. A, B & O (part issue)---1,000
1897
Raleigh <t Gaston—1st mort., $1,500,000, gold---- 0
1890-6 1,000
Seab. Air Line Equip., Ser. A, B, C, (part issue)..
1,000
16 1889
Raritan River Ry.—1st mortgage, g old ................c
40 1862 10Ó &c.
Reading <&Columbia—1st mortgage (extended)..c*
1,000
40 1864
2d mortgage, coupon (extended in 1884)............c
1,000
1877
Debentures............-*................. - ........................... 50
R ead in g Com pany—Common stock, $70,000,000
50
—
Pref. stock [$28,000,000 is 1st pf.] 4 p.c. non-cum
O ld P b i l a . & R e a d . K K . bonds.
1,000
1892
Delaware River Terminal Pur. Money M., gold.c*
1892
1,000
Delaware River Term. Ext. Pur. Mon. M., gold.c*
t Bonds and mortgages on real estate....................
O ld P b i l a . Ac R e a d . U R . bonds assumed b y P HILA. & R ead
94 1843 $ & £
tls t M., ext. in ’60, Philadelphia to Pottsv. $& £.c
94 1844-9 1,000
[ Mortgage loans of 1844,1848 and 1849.......... ..c
1857 500 &o
[Mortgage loan of 1857convertible..................... c
1,000
1868
Ï48
[Mortgage loan of 1868, gold, extended in 1893.c
254 1871 200 &o.
4 Consol, mortgage ($8,162,000 are gold 6s)........c
1873
325
[im p r’t M., g., ext. in 1897. See V. 65, p. 870, g.
1Consol. M.of 1882, g., 5s, ext. ’97 (V. 65, p.278)c’ 327 1882 500&O.
1,000
1891
[Terminal mort, gola. See V. 64, p. 8 5 ........ c*&r
[Mortgages on real estate........................................
1894-8
Philadelphia City Subway Loan, guar., $3.000,000
’72-’84 500 &o.
t P . Ac R .C o a l Ac I . morts. Seelist V. 64, p. 619.
1,000
1894
Coal trust certificates, gold. See V. 65, p. 278.
1892
1.000
ICol. sink, f gold loan (SR.) red. at 100, ass..o*
R e a d i n g C o m p a n y BONDS ISSUED IN re ORGA NIZATI ON.
Gen. M.,$135,000,000,g., s.f.not subj.to call.c*&r. Text, 1897 500 &o.
N o te .—General mortgage of 1897 requires th at toe Readi ng Co.
bonds marked t above, y Only $16,000 are 3s.
dorsed by the Raleigh & Gaston. On June 1,1897, floating debt (due
R. & G. for back interest on old first preferred stock retired by lsts of
1886) was $436,180; total net current liabilities, $330,755. Jointly
with Raleigh & Gaston and Seaboard & Roanoke issued the car trusts.
E arnings.—Year ending June 30,1898, gross, $434,522; net, $75,
<627; other income, $7,688; charges, $70,725; balance, surplus,S$12,590. In 1896-7, gross, $452,103; net, $99,357. IV. 61, p. 751.)
R a v i g h & G a s to n R R . — Owns from Raleigh to Weldon, N. C., 98
®a. and Louisburg branch, 10 m. Controls Raleigh & Augusta RR., 107
miles, and has large interest in Durham & Northern RR., Durham to
Henderson, N. C., 42 miles: and with Seaboard & Roanoke controls
Carolina Central; also controls Georgia Carolina & Northern and
jointly guarantees the bonds. Seaboard & Roanoke owns $742,200 of
the Raleigh & Gaston $1,500,000 stock ; par, $100.
Securities .—Under the readjustment plan of the Car. Central the
Ral. & Gas. will jointly and severally with the Seaboard & Roanoke
guarantee $3,000,000 1st consol. 4s and fixed charges. V. 67, p. 273.
A s to oar trust bonds of 1896 see V. 62, p. 684. In March, 1897,
issued a mortgage for $1,500,000 gold 5s, of which $1,000,000 used
to refund the 8s due Jan. 1,1898, $200,000 for improvements and
¡$300,000 for extensions, etc., after three years. V. 64, p. 758.
D ividends .—In 1889,1890 and 1891, 6; in 1892,4 p. o.; none sinoe
E arnings.—In year ending June 30,1898, gross,$589,153; net, $234,038; other inoome, $54,420; charges (interest $75,000, taxes $15,054,
•“ other deductions” $142,406), $232,460; balance, surplus, $47,248.
In 1896-7, gross, $567,894; net, $185,615—V. 65, p. 368; V. 66, p. 83;
Y. 67, p. 273.
R a r i t a n R i v e r R a i l w a y . — South Amboy to New Brunswick, N.
jr.. 12 miles; branches, 4 miles; total, 16 miles. Connects Penn. RR.
with N. Y. & Long «ranch RR Stock, authorized, $1,01)0,000; issued,
$365,000; par, $100. Year ending June 30. 1897, gross, $53,797; net,
$14,691; interest and taxes, $18,593; deficit, $3,902.
R e a d i n g Ac C o lu m b ia R R . — Owns from Columbia to Sinking
Springs Pa., 40 miles; branches, 13 miles; operates Marietta Junction to
Ohickies, 6 miles; total operated, 59 miles. Stock, $958,373 (par, $50), of
which $785,000, with the $1,000,000 debentures, are owned by Read
ing Company and deposited under its general mortgage o f 1897. The
road is controlled but accounts kept separate. In year ending June
30,18 9 7 , gross, $279,679 ; net, $94,593 ; charges, $116,801.
R e a d i n g C o m p a n y —P h i l a d e l p h i a Ac R e a d in g R y . —(See
Map.;—The Philadelphia & Beading Ry. operates in connection with the
Teat anthracite coal properties of the Philadelphia & Reading Coal &
ron Co. in the Schuylkill region, Pennsylvania, a large system of
roads centering at Philadelphia and extending thence westerly through
the coal fields to Hazelton and Williamsport on the north and Har
risburg, Shippensburg and Gettysburg, in Pennsylvania, on the south,
also easterly in New Jersey to Atlantic City, the summer resort on the
Atlantic Ocean, and to tidewater at Port Reading on New York Har
bor. The system comprises:
Miles.
Lines owned in fee.
Miles. I Leased lines—(Con.)
Philadelphia to Mt. Carbon,
|Schuylkill & Lehigh R R .. 43*9
Pa. etc. (double tracked).... 101 ■Phila. Har. & Pitts. R R ... 45*6
Phila. & Reading Term. RR.
1*3
Branches—
Reading to Harrisburg, P a .. 54
Total leased.......................... 548*5
Lebanon to B rookside. Pa... 42
Lines controlled—(See each Co.)
Rockville to Auburn, P a .. . . 53
E ntire Stock Owned .
Mahanoy City to Pt. T rev.. . )
5*4
New Castle to Mahanoy >65 Chester & Delaware R R .......
Rupert & Bloomsburg..........
1*6
Plain, Pa............................. )
Other lines.............................. 50 Middlet’n & Hummelst'n R B. 6*4
Tamaqua Hazleton &N. RR.
9*9
Controlled .
Total (2 tracks 173 miles). 365
Reading
&
Columbia
R
R
....
39*5
Lines leased (See each Co.)
Lebanon & other branches 13*8
•Colebrookdale RR. .............. 12*8
6*3
Pickering Valley R R ............. 11*2 Read. Marietta & Han. RR.
East Pennsylvania RR ......... 35*4 North East Penn. R R ........... 25*6
Allentown R R ........................
4*5 Phila. & Chester Valley RR. 21*5
Little Schuylkill R R ............. 31*5 Atlantic CityRR. & branches,
Mine Hill & Schuy. H aven.. 45*8
Sea Coast R R .,eto........ .. 159*1
Mt. Carbon & Pt. Carbon RR.
2‘5 Catasauqua & Pogelsv. R R .. 29*5
7*3
Mill Creek & Mine H. R R .. . .
3-8 Camden County RR...............
Schuylkill Valley R R ............ 11-0 Gettysburg & Harrisb R y ... 34*1
38*3
East Mahanoy R R ................. 10'9 Perkiomen R R .................
Shamokin Sunbury & L. RR. 31*3 Phil. Newtown & N. Y. R R .. 21*7
Phila. German. & Nor. R R ... 29*5 Port Reading R B .................. 19*7
Chestnut Hill RR..................
4 ‘1 Stony Creek RR ..................... 10*1
2*6
Catawissa R R .......................... 103*0 Phil. & Frankford R R .........
0*4
Norristown Juno. R R ..........
0*4 Bloomsburg Belt Line RR. ,
North Pennsylvania R B....... 86*2
Total controlled............. 452*8
Delaware & Bound B. R R ... 33*8
Total system July, 1898 (2d track 442 m iles)................. ...1,366*3
In October, 1898, acquired a controlling interest in the Wilmington
&North’n, 88 miles. V. 67, p. 843,1218.
Organization .—The Philadelphia & Reading RR. (chartered April
4,1833) and the P. & R. Coal & Iron Co. were sold in foreclosure Sept.
23,1896, under the general mortgage of 1888 and at receivers’ sale,
and their finances reorganized per p la n in V. 61,¡p. 1109.
f
$1,000,000
6
203,833
5
1,200;000
5 g.
228,333
5
300,000
5 g5
650,000
350,000
5
6
1,000,000
69,900,000 To be in
70,000,000 To be in
500,000
809,000
1 0 5 4 501
J. & J. Balt., Mero.Tr. &D. Co.
Baltimore.
J. & J. Balt.Merc.Tr.& Dep.Co.
do
do
J. & D.
J. & J.
M. & S. Phila., Phil.& Read. RR.
do
do
J. & D.
J. & D.
voting trust for 5 years or mo
voting trust for 5 years or mo
5 g. M. & N.
5 g* J. & J.
. R a ilw ay . S e e N o t
1,512,700
6
954,000
6
4*3
79,000
5 g.
2,696,000
18,811,000 6 g. & 7
9,364,000
4 g.
5,673,042
4 g.
8,500,000
5 g-
E.
J. & J.
J. & J.
J. & J.
A. & O.
J. & D.
A. & 0.
M. & S.
Q —F.
Jan. 1, 1926
Part yearly.
Jan. 1, 1947
Part yearly.
Jan. 1, 1939
Moh. 1, 1912
June 1, 1904
Deo. 1, 1917
re.
re.
Phila., Guar. Trust.
do
do
May 20,1942
July 1, 1942
Philadelphia & London.
Phila., Read. Ter. Bldg.
do
do
do
do
Phila., do & London.
Phila.. Read. Ter. Bldg.
do
do
Phila., Prov. Life & Tr.
July 1, 1910
July 1, 1910
July, 1910
Oct. 1, 1933
June 1, 1911
Apr. 1, 1947
Moh. 1, 1937
May 1, 1941
6 4 2 ,9 0 5
1904-1923
City Treasury.
2,700,000 If 3 <fe 3h)i
5, 6 & 7 Various Phila., Penn. Co. for Ins. 1899-1904
1,915Í147
Apr.
1, 1904
do
do
3,600,000
6 g. Q.—J.
1,668,000
5 g. F. & A. Phila., Read. Ter. Bldg. Feb. 1, 1902
60,886,000
4 g. J. & J. N. Y., J. P. Morgan&Co. Jan. 1, 1997
and Reading Coal & Iron Co. shall be responsible for all old
In the reorganization the 41 millions o f old stock and the 56%
millions of old preference income bonds were assessed 20 per cent,
the stock then receiving 100 per cent in new common and the prefer
ence incomes, common and preferred stock in certain proportions.
The “ Reading Co.” in the reorganization of 1896 acquired the stocks,
bonds, real estate, equipment, etc. (as per balance sheet, V. 64, p. 711).
of the old Phila. & Reading RR. Co.; also $20,000,000 stock and $20,000,000 bonds of the Philadelphia & Reading Ry. and the $8,000,000
stock of the Coal & Iron Co., and against all this property issues its ow n
securities. SeeV. 64, p. 709. Railway Co. began operations Deo. 1,
1896.
The property of the Reading Company, as distinguished from the
property of the Phila. & Reading Ry. Co. (which owns the railroad but
no equipment), and of the Coal & Iron Co., consists of the follow ing:
Railway equip, leased to Ry. Co. for 8 p. o. ($1,356,000) y’rly.$16,950,000
Real estate not appurt. to RR. (ann. revenue ab’t $175,000). 16,000,666
Colliers and barges leased to Ry. Co. for $115,006 yearly... 1,450,000
Phila. & Reading Ry. stock $20,000,000 and bonds, 820,000,000 par (annual int. to Reading Co., $1,200,000).... 40,000,000
Phila. & Read. Coal & Iron and
@FedFRASER