The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
THE INVESTORS SUPPLEMENT --OF THE--- COMMERCIAL & FINANCIAL CHRONICLE. Ent.ered a ccording to Act of Congress in the year 1898, by WILLIAM B. D ANA COMPANY, in the office of Libr arian of Congress, Washington, D . O. NEW YORK, JANUARY 29, 1898. RAILROAD DIVIDENDS FOR SEVEN YEARS. The following table shows the dividends paid· for seven years past on all railroad stocks ( of stea.m railroads) sold at the Stock Exchanges m N~w York, Boston, Philadelphia and Baltimore. Stocks which have been merged or consolidated, and have no longer a se parate existence, are not included. Dividends actually paitl. form the basis of a year's total. Those declared in one year and paid in another appear in the lat ter year. I n classifying t he companies, we bring together under each market the stocks dealt m m such market- thus Boston & Albany appears in the Boston list, P ennsylvania Railroad in t he P hiladelphia list, etc. DIVIDENDS ON RAILROAD STOCKS. Na.me of Company. NEW YORK. Alabama Gt. Southern, Clase A Do Do Cla.ssB Albany & Susquehanna (lea.sed) Atlantic & Da.nvllle.z _pref ..... . Boston & N. Y. Air Line, pref .. Buffalo Roohest.er & Pitts. pref. Bur~n C. Rap. & Northern. Canada Southern ..•..•••..•.•••. Canadian Paotfto .............. .. Do do pref ............. . Central of New Jersey..... . •.. Central Pactfto .•••.••...•...••.. Chica.go & Alton .............. .. Do do pref ..••...••• Chica.go Burlington & Qnlnoy . . Ohioa.go & Ea.stem Ill., pref ..• . Ohioa.go Junction Railways, &c. Do do do pref. Chicago Milwaukee & St. Paul . Do do pref. Chica.go & North Western .. . ..•. Do do pref .. . Ohio. Rocklsland & Pao . .•..•.. Ohib. St. P. Minn. & Oma.ha .... Do do pref. Oinoinna.ti Hamilton& Dayton. Do do pref. Do do new pref. Cincinnati N. 0. & Texas Pao .. . Cleve. Cin. Chio. & St. Louie .. . Do do pref. Olev. Lora.in & Wheel'g, pre! . . Cleve. & Pitteb., gua.r. (lea.sed). OoL Hock. Valley & ToL, pref .. Dela.ware & Hudson Canal . ••.. Delaware La.ck. & Western .. • . Denver & Rio Grande, pref..•• . Des Moines & Fort Dodge, pref Dubuque & Sioux City ...... . . .. Evansville & Terre Haute ..••. . Do do pref. Geor~a (leased) .• • ••.•••.....••. Great Northern, pref .......... . Hannibal & St. Joseph, pref .. .. Do Common ..•..•••..•. Illlnois Central . • • • • • • • . • • . . .•.. Do Leased line certs .. Iowa Central, pref .•••..••...••. Keokuk & Des Moines, pref .•. . Keokuk & Western . ...••••••••• Lake Erie & Western, pref•..... Lake Shore & Mich. Southern . . Long Island ••••.•••.••••••••.••. Lou18ville & Nashville .•••.••.. Manhattan Elevated .......... . . Michigan Central .•••.••..•..••• Minn. & St. Louis, 1st pref .•••. Do do 2d pref .••••• Missouri Pactftc ••••••••••••••••. Morri8 & Eeeex (le&SM) •••••.... Naehv. Chattanooga & Bt. Louis New London Northern (leased). New York Central & Hudson ... N. Y. Chica.go & St. L., lat pref. N.Y.& Harlem inol.4thAv .RR.Common .••••••••••••••••••••.. Preferred .••••••.•••••.••••••. . N. Y. Laok. & West. (guar.) ..• . N. Y. New Haven & Hartford . . New York Susq. & West., pr~t .. Norfolk & Southern .••••••...••• Norfolk & Western, pref ••••••• Ore~on Ry. & Nav.. nrAf . ... .. . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1892. Dividend Periods 1891. 6 6 Jan. and July. 7 7 ···;,·· April and Oct. ···4-- ···4.. ···4-- Feb. and Aug. Feb. and Aug. April and Oct.April and Oet. Quarterly-Feb. jan. and July. Quarterly-Mar. Quarterly-Mar. Quarterly-Mar. Quarterly-Jan. Jan. and July. Qua.rterly-Jan. April and Oct. April and Oct. Jan. and July Quarterly-Jan. Quarterly-Feb. Feb. and Aug. Quarterly- Feb. Quarterly-Jan. Quarterly- Feb. Feb. and Aug. Quarterly-Jan. Quarterly-Mar. Tan. and July Quarterly-Mar. Quarterly-Jan. Annual-Augu st 119 llg 5 ···~.H; 5 ·--a·· 5 April and Oot . Quarterly-Feb. Feb. and Aug. 2 8 8 2 8 8 5 6 8 6 2 2 8 8 5 6 4¼ (d,) 10 6 ···,,-6 J.&J.andA.&O. J.&J. andA.&O. Quarterly- Jan. Quarterly-Mar. Qua.rterly-J an. 8 6 4 ···4·· ···a·· 4 3 ···a·· 2lg ···4-···4·· 5 2 ···4.• 7 6 8 6 4 ···si; ···;,·· ···7·· 5 4 5 4 5 4 7 7 2¼ ···4·· "iT" ·ye 7½& ( a ) 5 7 2·3 5 4 --·2=40 2 5 6 5 4 6 6lg 5 6 5 10 114 4 1¼ ···4·· 219 ···1 ·. 5 7llt 514 3 8&2lg 8&2lg 5 8 5 3 8&2¼ 8, & §lg 10 2 4 ,2lg 9 5 4 8&3 8&3 5 9 ·-, . .. 1 4 2 219 4 4¼ 1 7¼ 7¼ 4 6 8 6 5 7 5 7 2 19 2 7 4 '""4"" 5 5 ...i .. 3 7 5 7 7 2 6 3 ...i .. · ··2~ ···,:,·· 219 5 7 2 6 2 '""i"" 11 5 11 ···5·· ···5·' 4 4 519 3 5 6 4 414 3lg (B) 1 ···2·· 2 5 6 ···7·· 10 2lg 4 ...7.. 7 6·54 95"0: ···s-5lg 3, 1 5 7 2·2 5 5lg 8 4 6 8 6 4 7 5 ···,;·· 3 lli, 5 7 7 114 1 8 ···;, .. 5 7 7 """5" 4 5 2 5 7 ·7 2 2 212 7 7 5 2lg 21!& 2 ···5·· ···,;·· 4 5 7 ···7·· ···2·· 8&2¼ 7 319 ....7.. 4 8 & 219 2 7 4 ···;,·· ···5-- 419 319 7lg ···a·· 4llt 6·82 7 5 7 (V) 7 ···a·· .iT" ·--a·· 8 8 4 6 8 8 4¾ 5 4 7 519 lg ···s·· """4•• 7 9 ···;,·-- 03 5 1897. ···7·· 7 3 3 5 1896. ···7·· 6 7 4 ···4.. 1895. ···;,·· ···4·· 7 6 7 4 4¼ Quarterly-Jan. Feb. and Au~. Jlm. and July. Jan. and July. Quarterly- Jan. .ran. and July. Quarterly- Feb. Quarterly-Jan. Quarterly-Jan. Annually. 3 3 5 ···;,·· 7 Mar. and Sept. Jan. and July. 114 ···;,·· 414 1894. 6 ...6¼ 2 Quarterly-Jan. Quarterly-Feb. 1893. --·s·· 4 5 3 ..·,:;·· .. ·,:,·· 4 9 3 9 4 5 414 8&3 8&3 8&5 ...4.. 8 8 ···4·· ···4·· 5 8 8&5 5 8& 4 8& 4 5 1 2 INVESTORS' SUPPLEMENT. [VOL, LXVI DIVIDENDS ON RAILROAD STOCKS-(C0NCLUDED.) Name of Comp~y. Dividend Periods. 1891. 1892. p actllc Mail ......•.............. p anama ......................... p ennsylvania Coal ......•..•••.. p itt,s. Cin. Chio. & St.L., pfd•.... Pi·ttsb.~.W.& Chio.,guar.(l'sed) Do do special .... p ittsb. Youngst'n & Ashtabula. Do do pref. Pn.llm.an's Palace Car ....•••..•. Ren sselaer & Saratoga (lea-sed). R to Grande Western, pref ....•. R ome Watertown & Ogdensb'rg st. Louis Alton & Terre Haute. st. Louis & San Fran., 1st pref. Bt. Paul & Duluth,:rt,f ...•• Manitoba. B t. Paul Mtnneap. Bouthern Railway, pref ........ T ennessee Coal & Iron, pref .... T erre Haute & Indianapolis .... T exas Central, pref .•...•...••. T oledo & Ohio Central .......... Do do pref. Wheellng & Lake Erie, pref •••• ... -·· ............ ·--5·· ...2.. 16 28 4 7 7 6 7 8 8 5 5 Quarterly- Feb. Quarterly-Jan. Q.uarterly- Jan. Maroh and Sept. Maroh and Bept. ~uarterly- Feb. an. and July. Quarterly- Feb. ~uarterll- Feb. an. an July. Maroh and Sept. Quarterly- Feb. •••••r •••••••••••• 3 7 7 3 7 8 8 614\~ 6,(qJ&20s ...... ...7.. 1893. 2 16 4 7 7 6 7 8 8 3, 5 . ..... ...... 7 ···1-- ...... 7 6 8 8 6 1894. ...... "20 .. 2 7 ,.. 6 7 8 8 ...5.. 6 ...... ---· .. .···--· ..... ...... ---- .. ···s-- ··-·· ... ··- ... -----··-·· ...... -..... 10 7 8 7 8 6 10 5¼ ---3¼ ···aig 8 7 8 6 10 5 """iig (eJ (eJ May and Nov. 6 6 (eJ Quarterly- Jan. auarterly- Jan. uarterly-Jan. ~uarterly- Jan. an. and July. Feb. and Aug. June and Deo. April and Oot. Jan. and July. 6 2 6 3 ·······••••······· 2 7 7 6¼ 7 8 8 6 ...... 2 5 4 4 1 --is·· ...5.. 5 2 5 4, 6 ...... 7 6 7 8 8 1 ·------·5·· 4, Quarterly- Jan. 6 ...7.. lls 6 ...5.. 2 ---· .. ···s----3~ ...... 8 7 6 6 10 4¼ 8 7 6 6 10 4 8 7 6 6 10 3 3 ...... 1897. ·2r ···5·· ...3.. Annual. . ..... ·ys-- 1896. ···s·· ----·· ·--5·· ···s·· 6 ---·············-· 1895. ···.:,·· 7 6 7 8 8 4.s.&, 5 214 2 5 6 1 ---- .. ···a·· ....... ·----··-··· BOSTON. Boston & Albany ................ B oaton & Lowell ..•••..••.•.••. B oston & Maine ................ pref ••••.••• Do B oeton & Providence ...•...•... B oeton Revere Bea.oh & Lynn .. Central Massachusetts, pref ... Chica.go & West Michigan ...•. Cin• Band. & Cleveland, com ..•. pref ..••..•. Do Concord & MontrealClase I. (Bost. Con. & Mon. pf.) Clase U. (Bost. Con. & Mon.) .. Clase m. (BOB. c. & Mon. old) Class IV. (Concord stook) ..... Oonneotiont River ... _..•.. .... Conneoticut & Passumpsio.ptd. E astern, N. H. (leased) ..••...•. European & North American ... Fitohburg, pref ..•..• _........... Flint & Pere Marquette, ~ref ... Ft• Wayne & Jaokw!ref ( eased) Hartford & Conn. est. (leased) Kans. City .Ft. Soott & Memphis Do do do pref. Maine Central. ................ . . :Manchester & Lawrence ..•...•. N aahua & Lowell (leased) ..•••.. N orthern (N. H.) ...•.......•.... N orwioh &Worceet'r pfd. (leas'd) 01 'i'ciaiiis Pi~i~n& Portland & Rochester .......... p ortl'nd Saoo & Portsm. (leased) Providence & Worcester .•..•••. R <Faeci> V V ermont Valley ..... ...•....... . worcester Nashua & Roohest-er. No: '<ieaaeci> ::::::i r~Msooiiwi.-ts. ~uarterly-Mar. an. and July. Quarterly- Jan. Maroh and Sept. Quarterly-Jan. Jan. and July. Mar. and Bept. ..................... --- . -· .. -·. ··--· Quartei-ly-Jan. May and Nov. May and Nov. auarterly-J an. uarterly-J an. iuarterly-Jan. an. and J~. Jan. and J y Jan. and July. ~uarterly-Mar. an. and July. April and Oot. Jan. and July. Jan. and July. 8 7 9 6 ···13·· ...6.. 8 5 a,&50stook 5 3¼ 31g 5¼ 2 1 4 6 10 9 6 8 9·90 (t,J 5 6 6 8 5 3 5 ..s"iuJ 7¼ (t,J 10 9 6 8 7 5 6 6 3 6 6 6 4 6 6 6 10 4 4¼ 5¼ 2 10 ··-· ··1;;- 6 6 6 6 6 6 6 6 10 5 3 5 3 llg 6 7¼ (OJ 5 3 5 4 2 5¼ 2 y;jt"j 6 10 9 6 8 g58(WJ 6 6 141g (ZJ 4 6 6 6 ...... ..lij' 6 ---5¼ """5½i """5i; 2 2 ...... ...... 10 9 11 8 7 5 6 6 10 4 6 6 5 6 5 4 5 3 5 4 2 ---6 •• llg (eJ 7 7 7 7 10 5¼ 3 5 4 (nJ 614 (nJ 614 (nJ 614 (nJ 614 10 .••5¼ ...... --r;r 6 8 7¼ 6 6 10 2 ...6.. (yJ 10 91 6 8 7 5 6 6 10 4 6 6 5 7 7 7 7 10 5 3 ···--· ... 6.. 10 9 8 8 7 5 6 6 10 2 6 6 5 2 ...6.. 10 9 11 (t,JlO 7 5 6 6 10 2 6 6 5 PHILADELPHIA. Camden & Atlantic, pref ....••. Catawissa (leased), pref .••••..•. Do new pref....••.••.. Delaware & BoundBr'k (leased) East Penn~lvania (leased) ..... Elmira & illiamsport (leased). Do do pref....... H arrisb.Portsm.Mt.J.&L.(l'eed) H untin~on & Broad Top ...... o do pref. Lehigh Coal & Navigation •••••. Lehigh Vall~---·············· Little Sohui (leased) ..•.... Minehill & ohuyl. Hav. (leas'd) N es~ehoning Valley (leased) .. N ort Pennsylvania (leased) ... N orthern Central ............... Pennsylvania Railroad ...•...•. Pennsylvania & Northwestern. Philadelphia & Erie, common .. Phila. Germ.ant. & Nor. (leased) Philadelphia & Trenton (leas'd) Phlla. Wilmin~n & Baltimore Bohuylldll V ey ............... United Cos. of N. J. (leased) .••. West Jersey ..•....•........•.•.. West Jersey & Atlantic .••..•••. West Jersey & Seashore ........ May and Nov. May and Nov. ~uarterly- Feb. an. and July. May and Nov. Jan. and July. Jan. and July. Feb. and Aug. Feb. and Aug. May and N()V, Jan. and July. Jan. and July. Mar. an,1 Sept. ~uarterly-Feb. an. &J..ot.l July. May and Nov. ·················· Quarterly-Mar. Quarterly-Jan. Jan. and July. Jan. and July. auarterly- Jan. ar. and Sept. Mar. and Sept. ·-- .............. ...7.. 7 8 6 4·76 6·67 7 2 7 5 5 7 7¼ 5 8 7 6 5 ..ff. 10 6 5 10 7 ·--11·· 7 8 6 4·58 6·38 7 4 7 51g 514 7 71g 5 8 7 6 51g 2 12 10 7 5 10 7 -----~ ---· .. ...... 6 20 stook, 6 10 6 6 6 3, 6 10 6 6 ··-··· ...7 .. 7 8 6 4·58 6·38 7 5 7 6 4 7 7¼ 5 8 9 5 & 2 scrip. 6 ·1oig 10 7¼ 5 10 7 6~ 7 7 ~ 6 4•58 6·38 7 5 7 41g ·--11·· 71g 5 8 7 5 2 2 12. 10 7 5 10 7 ...... ··-··· 6 5 6 10 6 6 6 4¼ 6 10 6 6 ----··· ···--- 5 7 7 8 6 4·58 6·38 7 41g 7 4 7 7¼ 5 8 7 5 2 ·12·· 10 61g 5 10 (/J 6¼ 3 ...... 2¼(m) 7 7 8 6 4·58 6·38 7 4 7 4 ···5·· 5 8 6 4·58 6·38 7 I 6 4 ...7.. ...6.. 7¼ 5 8 7 5 6'9 5 8 7 5 ...... ·12·· ------ 10 7 10 7 10 10 5 3(mJ 3(mJ 2½i(mJ ·12.. 5 ------.. --5 BALTI.IJIOKE. Atla.n. & Char. Air Line (leased) Baltimore & Ohio-Main Stem .. Do. do. pref. stooks .••. Do. do. Wash. Branoh. Central Ohio,oom ..••...•••..••• Do do pref ............... Georgia South. & Fla., 1st pref. Do do 2d pre'f. West Virginia uent. & P1ttso ... Wil. Columbia & Augusta ...... Wilmington & Weldon .......... Mar. May Jan. May Jan. Jan. and and and and and and Sept. Nov. July. Nov. July. July. .................. Annual in Moh. Jan. and July. May and Nov. ...... 1 6 12 -----....... 1 6 4 (XJ 6 --·;:,-10 6 6 6 ·--a·· 6 ···-·· -----. 10 3 3 ...... 4 5 2 1¼ 6 7¼ . ..... ··-··· ·----· 1 6 3 1 6 3 ...i¼ ...i½i 6 6 6 6 ------ .. Scrip exchangeable into 5 per cent debentures. II Dividend tor December 30 was pa.id .January 3, and therefore tell in 1895 instead of 1894; and dividend periods have been January and July sinoe then. t One per oent of this represents a quarterly dividend deterred from previous year. § Less State tax. 11 Also 32-½a per cent extra out of amount received from the Old Colony under the provisions of lease. (aJ Also sorip dividend of 3313 per oent oonverttble into stock on payment of twenty dollars a share. (cJ Now leased at 4·8 per oent per annum. (dJ With the dividend paid January 2, 1892, amount for year would be 6 per. cent. (e) Common stock of this road has been exchanged tor Cleve. Cin. Chio. & St. Louis stock. (/) 31g per cent of this wa.s in sorip, redeemable the following October. (hJ f> per cent of this in general mortgage bonds. (m) In May, 1896, Camden & Atlantic, West Jersey and other roads were consolidated under name of West Jersey & Seashore. (nJ Now leased at 7 per cent per annum to Boston & Maine. (oJ Under the lease to the Boston & Maine dividend periods were changed to semi-annual, 5 per oent semi-annual. bemg paid July, 18~J. (pJ 21g in preferred stock. (qJ This is made up of one semi-annual dividend of 3 per oent and three quartArly dividends of 114 per cent. (sJ In July, 1895, old oommon stook was exchanged, receiving l ·55 shares of new praferred and 2 shares of new oommon stook for each share of old stock. (t) Thie is dividend for the twelvt, months of 1892. (uJ TbJe covers both the August, 1891, dividend \Which had been deterred) and that of February, 1892. (1') Increase due to ohange of dividend l)eriod. (wJ Change from 7 per oent due to ohange of dividend period. (xJ Dividend for January, 1892, was . anticipated, and paid in the previous November, making total dividends in 1891 12 per cent. (y) Also 50 per cent extra dividend out of money received through the decision against the Concord & Montreal. (zJ Extra diTid6nd of 4¼ per cent paid Maroh, 1893, out of assets. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INDEX. JANUARY, 1898. j INDEX TO COMPANIES-CONSOLIDATED, &c. Companies not given in the SUPPLEMENT tables in their alphabetical order may be found by reference to the Index below. NAME. WILL BE FOUND UNDERI NA.ME. WILL BE FOUND UNDER- Akron & Chicago Junction...•...•.. Baltimore & Ohio. Alaba1,na Central. ................... Southern Railway Co. AmericanDock&ImprovementCo .. Central of New Jersey. American Telephone &Telegraph .. American Bell Telephone. Annapolis & Balto. Short Line ...... Balto. & Annapolis Short Line. Ashtabula & Pittsburg ..•.•••....... PittsburgYoungstown &Ashtabula Atchison & Nebraska ......•......•.. Chicago Burlin~on & Q.uin.cy. Atchison & Pike's Peak...•........•. Central Branch union Pacific. Atlantic & Gulf ...................••. Savannah Florida & Western. Atlantic Mississippi & Ohio ..•....... Norfolk & Western. Atlantic & Northwest.............. .. Canadian Pa,cifl.c. Augusta & Atlanta ..... ....•....... Charleston & Western Carolina. Baltimore Belt Baltimore & Ohio · ·······•• ···•·• ······ · :81g:ore ~umberland•· •· ·• • ·· · · · ;estrn :ary~ana. a, ore anover · · •• · • • · • • · · · • · es rn ary an · Baltimore & Harrisburg ............. Western Maryland. Baltimore & New York ......•...•... Baltimore & Ohio. Baltimore & Lehigh RR ............ York Southern. Battle Creek & Sturgis ..••....•..•.. Lake Shore & Michigan Southern. .Bay City & Battle creek............. Michigan Central. Bellefontaine & Indiana ..•..•....•.. Clev. Cin. Chic. & St. Louis. Belleville & Carondelet.••••••••••••• minois Central System. Belleville &Eldorado .....•........•. lliinois Central System. Belleville & Southern lliinois ....... Illinois Central System. Bell's Gap ..................•......•.. Pennsylvania & Northwestern. Birmingham Equipment............ Kansas City MemE' & Birmingham. BoonevilleBridge .•.................. Missouri Kansas Texas. Boston Clin. Fitch. & New Bed..•.. Old Colony. Boston Concord & Montreal.•·•· .... Concord & Montreal. Boston Hoosac Tunnel & Western .. Fitchburg. Boston & N. Y. Air Line ..•......... N. Y. New Haven & Hartfo rd . Boston Winthrop & Shore...•.....•. Boston Revere Beach & Lynn. Brooklyn & Montauk .••..•.......•.. Lotlg Island. Brookville Ry•··••••·····••··••···•· .Allegheny Valley. Brunswick & Chillicothe.•·••·••··•• Wabash. Brunswick & Western.•••·••••••••• .Savannah Florida & Western. Buckingham Railroad.•·••·•••·•• •.. Chesapeake & Ohio. Buffalo & Erie ........................ Lake Shore & Michigan Southern. Buffalo New York & Philadelphia .. Western New York & Pennsylvania. Bu1falo & Southwestern ......••..•.. Erie RR. Burlington & Missouri River ........ Chicago Burlington & Quincy. (Ja.Iro Arkansas & Texas ............ MlssouriPacifl.c-St. L. I. M. & So. Cairo Short Line .............•....... Illinois Central System. Cairo Vincennes & Chicago ...•..... Cleveland Cin. Chicago & St. Louis. California & Oregon ................. Central Pacific. Camden & Atlantic .................. West Jersey & Sea Shore. Canada Central ...................••. Canadian Pacific. Cape Girardeau Southwestern ...••. St. L. Cape Girardeau & Fort Smith Carbondale & Shawneetown ......•. lliinois Central System. Carolina Cumberland Gap. & Chio.Carolina & Cumberland Gap. Cedar Falls & Minnesota ............ Dubuque & Sioux City. Ct_,dar Rapids Iowa Falls & N. W ... Burlington Cedar Rapids & N orth'n. Cedar Rapids & Missouri River ..••. Chicago & North Western. Central of Ga. RR. & Banking .••••• Central of Ga. Ry. Central Iowa ........................ Iowa Central. Centr9.l Transportation Co .......... Pullman's Palace Car. Central WashinITTiQn ................. Northern Pacitto. Charleston Cinoinnati & Chicago ... Ohio River & Charleston. Charlotte Columbia & Augusta .... Southern Railway. · Charlottesville & Rapidan ..•....... Southern Railway. Chattanooga Union .....••...•.•..•.. Belt Ry. (of Chftttanooga.) Chesh1re ................•...•........ Fitchburg. Qhester & Lenoir .•.....•.•.......... Carolina & North western. Chicago & Atlantic ...............•.. Chicago & Erie. Chicago & Calumet Terminal. ...... Northern Pacitlc. Chicago Olinton Dubuque & Minn .. Chlcago Milwaukee & St. Paul. Chicago Gas ..............•....•...... Peoples Gas L. & Coke. Chicago & Great Western ........... Cbicago & Northern Pacific. Chicago & Indiana Coal .......•..... Chicago & Eastern lliinois. Chicago & Iowa .................•... Chicago Burlington & Q.uincy. Chicago Kansas & Nebraska ..•...•. Chicago Rock Island & Pacitto. Chicago Milwaukee & N. W... ....... Chicago & North Western. Chicago & Milwaukee .............••. Chicago & North Western. Chicago & Northern Pacific ...•..... Chicago Terminal Transfer. Chicago & Ohio River ....••.•.....•. Peoria Decatur & Evansville. Chicago & Pacific .................... Chicago Milwaukee & St. Paul. Chicago Paducah & Memphis .•.•.•. Chicago & Eastern Illinois. ehicago Santa Fe & California ...... See Atchison System, Apr.,'96,SuP. Ohlcago & St: Louis .................. Atchison Topeka & Santa Fe. Chicago St. Louis & New Gr-leans ... lliinois Central. Chicago St. Louis & Paducah ...... _.Illinois Central Syste . -·· · - -....: Chicago St. Louis & Pittsburg ....... Pittsb'rg Cincinnati Chicago & St. L. Chicago St. Paul & Kansas City .... Chicago Great Western. Chicago St. Paul & Minn ............ Chicago St. Paul Minn. & Omaha. Chicago & Southwestern .•.......... Chicago Rock Island & Pacific. Chicago & Springfield ........•....... Illinois Central. Chicago & Tomah .................... Chicago & North Western. Chicago Wisconsin & Minnesota .... Wisconsin Central Co. Choctaw Coal & Railway............ Choctaw Oklahoma & Gulf. Cincinnati & Baltimore .............. Baltimore & Ohio Southwestern. Cincinnati Ind. St. Louis & Chicago.Cleveland Cin. Chic. & St. Louis. Cincinnati Northern ..•.............. Cincinnati Jackson & Mackinaw. Cincinnati Richmond & Chicaio ..•. Pittsb'rg Cincinnati Chicago & St. L. Cincinnati Sandusky & Cleve1and .. Cleveland Cin. f'hic. & St. Louis. Cincinnati Southern .......•.•...•... Cincinnati New Orleans & Tex. Pao. Cincinnati & Svringfleld ...........• Cleveland Cinn. Chic. & St. Louis. Cincinnati Wabash & Michigan ..... Cleveland Cin. Chic. & St. Louis. Cincinnati Wash. & Baltimore ...... Baltimore & Ohio Southwestern. Clearfield & Jefferson ................ Pennsylvania & Northwestern. Clearfield Bituminous Coal. .•....... Beech Creek. Cleveland & Canton ................. Cleveland Canton & Southern. Cleveland Columbus Cin. & Ind .... Cleveland Cin. Chic. & St. Louis. Colorado Central. ................... Union Pa~ific Denver & Gulr. Columbia & Greenville ...••......••. Southern Railwav. Col01 ado Bridge ..........•.......... International & Great Northern. Columbia & Red Mountain .......... Spokane Falls & Northern. Columbus Connecting & Terminal..Norfolk & Western. Columbus & Hocking Valley ......•. Columbus HockingValley&Toledo. Columbus & Indianapolis Central... Pittsb. Cincinnati Chic. & St. Louis. Columbus Lima & Milwaukee ...... Ohio Southern. Columbus & Rome ................... Central of Georgia Ry. Columbus Shawnee & Hocking ..... Columbus Sandusky & Hocking. Col um bus Southern .....•••...•..... Georgia & Alabama. Columbus &Toledo .......•.......... Col. Hocking Valley & Toledo. Columbus & Western .••..••...•...•. Central of Georgia Ry. Concord ........................•..... Concord & Montreal. Consolidated Terminal Railway..... Kansas City Suburban Belt. Consolidated Vermont ............... Central of Vermont. Corning Cowanesque & Antrim ..... Fall Brook. Coshocton & Southern ....•.......•.. Cleveland Canton & Southern Covington & Lexington ..•..••...•.. Kentucky Cent.-Louisville & Nash. CurrE>nt River ..•......••..•........•. Kansas City Fort Scott & Memphis. Dakota Central .....•.......•...•...• Chicago & North Western. Dakota & Great Southern ....•.•.... Chicago Milwaukee & St. Paul. Dallas & Waco .....••.....•.....•.... Missouri Kansas & Texas. t https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Danbury & Norwalk ................ New York New Haven & Hartford. Danville & Grape Cr~k ............. C"hioa,p-o & East Illinois. De Bardeleoen Coal & lron ......•. Tennessee Coal & Iron (Miscel.) Delano Land ......................... Lehigh Valley. Denver Pacific ....................... Union Paci.tic. Denver & Rio Grande Western ..... Rio Grande Western. Denver Texas & Fort Worth ........ Union Pacific Denver & Gulf. Denver Texas & Gulf ................ Union Pacific Denver & Gulf. Des Moines & Minnesota ...........• Chicago & North Western. Detroit & Bay City .................. Michigan Central. Detroit Bay City & Alpena ..•...... Detroit & Mackinac. . Detroit Lansing & Northern ....... Detreit Grand Rapids & Western. Detroit & Lima Northern............ Lima Northern. Detroit Mackinac & Marquette ..... See Miscellaneous Companies. Detroit Monroe & Toledo .....•...... Lak:e Shore & Michigan Southern. Distilling & Cattle Feeding ......... American Spirits Manufacturing. D k R' N hvill Ch tt & St Lom · uc iver ..............•......•.... as e a anooga • I Duluth & Manitoba.?••···--··--~····Northern Paciti<.l. Duluth Short Line ................... St. Paul & Duluth . Duluth & Winnipeg.................. Duluth Superior & Western. Dutchess County•·····••···.•· ...•.. Phila. Reading & New England. East Line & Red River .............. Missouri Kansas & Texas. East River Gas ........•......•.•.... New York & East River Ga.s. East Tenn. Va. & Ga .........•..... Southern Railway. Eastern of Massachusetts ........... Boston & Maine. Eastern of Minnesota......•.......•. Great Northern. Easton & Amboy .................... Lehigh Valley. Easton & Northern .................. Lehigh Valley. ElizabethtownLexing. & Big Sandy.Chesapeake & Ohio. Elmira state Line .•................. Tioga RR. Erie & Kalamazoo ................... Lake Shore & Mlcht1rnn Southern. Erie & Western Transportation Co.Connect. Terminal RR. (of Buffalo) Escanaba & Lake Superior .......... Chicago & North Wesrern. European & North American ....... Maine CentraJ. Evansville & Crawfordsville ........ Evansville & Terre Haute. Evansville Henderson & Nashville.. Louisville & Nashville. Evansville Rockford & Eastern ..... Louisville Evansv. & St. L Consol. Farg-o & Southern ...•...........•.•. Chicago Milwaukee & St. Paul, Florida Southern ..................... Savannah Florida & Western. Fort Smith & Van Buren Bridge .... St. Loufa & San Fra.IJoisco. Franklin & Pitt.sylvania ............ Southern Railway. Fremont Elkhorn & Missouri Val. .. Chica&-o & North Western. Georgia Midland & Gulf ... : ........ Georgia Midland Ry. Georgia Pacific ..............•..... 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. Greenfield & Northern ....•......... Kansas City Ft. Scott & Memphis. Harlem River & Portchester .....•. New York New Haven & Hartford Hastings & Dakota ...........•.••... Chicago Milwaukee & St. Paul. Helena & Red Mountain ............. Northern Pacific. Hereford ....................•..•..... Maine Central. Holly Wayne & Monroe ..••..•...... Flint & Pere Marquette. Housatonic .....••....•.•.....••....•• New York New Haven & Hartford. Huntingburg Tell City & Cannellt'n.Louisville Evansv. & St. L. Consol. Huntington & Big Sandy ....••...... Ohio River. Illinois & St. Louis .......•..•...•... Louisville Evansv. & St. L. Consol. Indiana Block Coal. .•.•.....•.....•• Chicago & Eastern lliino1s. Indiana Bloomington&. Western.... Peoria & Eastern. Indiana & Illinois Southern ......... St. Louis Indianapolis & Eastern. Indianapolis Cin. & Lafayette ....... Cleveland Cin. Chic. & St. Louis. Indianapolis & St. Louis ............. Cleveland Cin. Chic. & St. Louis. Ionia & Lansing ..•.................. Detroit Grand Rapids & Wester.n. Iowa & Dakota ...................... Chicago Milwaukee & St. Paul. Iowa Falls & Sioux City ............. Dubuque & Sioux City. Iowa Midland ......•........•........ Chicago & North Western. Iowa & Minnesota ...•...•..••..••... Chicago Milwaukee & St. Paul. Jackson Lansing & Saginaw .....•.. Michigan Central. Jacksonv. St. Aug. & Indian Riv ... Florida East Coast. Jacksonville Louisv. & St. Louis ... Jacksonville & St. Louis. JacksonvilleSoutheastern .......... Jacksonville & St. Louis. James RiverValley .........•........ Northern Pacific. Jamestown & Franklin .............. Lake Shore & Michig-an Southern. Jefferson Madison & Indianapolis .. Pittsburg Cincinnati Chic. & St. L. Joliet & Chicago ..................... Chicago & Alton. Junction & Breakwater............. Delaware Maryland & Virginia,. ""a.li1,D1™500 Allegan & Gr. Rapids .. Lake Shore & Michigan Southern. Kalamazoo & South Haven .•....... Michigan Central. Kalamazoo & White Pigeon ..•..••.. Lake Shore & Michigan Southern. Kansas & Arkansas Valley ......... Missouri Pac. (St. L. I. Mt. & So.) Kansas City Fort Scott & Gulf ...... Kansas City Fort Scott & Memphle. Kansas City & lndep. Air Line ..... Kansas City Suburban Belt. Kansas City & Memphis Ry. Bridge.Kansas City Fort Scott & Memphla, Kansas City & Pacitto ............... MiEtsouri Kansas & Texas. Kansas City St. Louis & Chicago .... Chicago & Alton. Kansas City Southeastern & Memp.Kansas City Fort Scott & Memphla. Kansas City & Southwestern ........ St. Louis & San Francisco. Kansas City Spring-field & Memphis.Kansas City Fort Scott & Memph18. Kansas City Termmal Constr. Co ... Kansas City Pittsburg & Gulf. Kansas City Topeka & Western ..... Atchison Topeka & Santa Fe. Kansas City Wyandotte & N'th'w'n.Kansaa City Northwestern. Kansas & Missouri ................... Kansas City Fort Scott & Memphla. Kansas Pacific ......•.......•...•.... Union Pacific. Keithsburg Bridge ..........•....... Iowa Central. Kentucky Central. ..........•........ Louisville & Nashville. Kentucky Union ....•............... Lexington & Eastern. Knox & Lincoln ..............•...•.. Maine Central. Lackawanna & Southwestern....... Central N. Y. & Western. Lackawanna & Susquehanna ..•.... Delaware & Hudson. Lawrence ............................. Pittsburg Youngstown & AshtabulA. Lehigh & New York ................. Lehigh Valley. Lehigh & Susquehanna .•.•.•..•..... Lehigh Coal & Navigation (Mlsoel.) Lemington & St. Clair ............•.. Canada Southern. Leroy & Caney Valley.........•..... Missouri Pacific. · Lexington & Frankfort ............. Louisville &Nashv'le (L, C. & Lex:.) Lima Northern .............•....... Detroit & Lima Northern. Ltncoln &Northwestern ...•.......•. Chicago Burlington & Quincy. Lincoln Park & Charlotte ........... Buffafo Rochester & Pittsburg Little Rock Junotion ............••.• Missouri Pacific. Little Rock & Fort Smith ............ Missouri Pacific. Long Branch & Sea Shore ..•........ Central New Jersey. Long Dock Company ......•..••...•. Erie RR. Long Island City & Flushing ........ Long Island. Louisiana & Missouri River ......... Chicago & Alton. r.o,rtsville Cincinnati & Lexin~ton .. Louisville & Na.sh.ville. Louisville & Frankfort .............. Louisville & Nashv.-L. C. & Lex. Louisville New Albany & Chicago .. Chicago Indianapolis & Louisville. Louisville New Orleans & Texas.... Illinois Central (Yazoo & M. v., Louisville St. Louis & Texas ........ Louisville Henderson & St. Louis. Louisville Southern .....•.......•... Southern Railway. Lowell & Lawrence .••...•.........•. Boston & Lowell. TNDEX. NAME. WILL BE FOUND UNDER- II [VoL. LX'7I, NAME WILL BE FOUND UNDER- Macon & Augusta .•...••.......•••.. Georgia RR. & Banking Co. Ravenswood Spencer & Glenville .. Ohio River. Mahoning Coal. .........•..........•. Lake Shore & Michigan So. System. R~publi.can Valley ..•......••..•..... Chicago Burlington & Quincy Malone & St. Lawrence .............. St. Lawrence & Adirondack. Rich Hill ................•..•...•...•. Kansas City Ft. Scott & Mem. ManitobaSouthwest'n Colonization. Canadian Pacific. Richmond & Danville ................ Southern Railway. Marietta Columbus & Northern ..••. Toledo & Ohio Central Extension. Richmond Yor!'- River & Ches....•.. Southern Railway. . . Marietta Mineral .................... Toledo & Ohio Central Extension. Rochester & Pittsburg ............... Buffalo Rochester & Pittsburg. Marietta & North Georgia .......... Atlanta Knoxville & Northern. Roanoke & Southern..•....•......... Norfolk & Western. Maple River .......................... Chicago & North Western. Rome & Carrollton ................... Cbattanooga Rome & Columbus. Marquette Hougton & Ontonagon... Dulutli South Shore & Atlantic. Saginaw & Western ..•....•.......... Detroit Grand Rapids & Western.. Maryland Central. ..............•... Baltimore & Lehigh. St. Charles Bridge ........•.......... Wabash. Massawippi ..............•..••..•.... Connecticut & Passumpsio. St. Joseph & Western ......•......... St. Joseph & Grand Island. Maysville & Lexington .....••...•... Kentucky Central.-Louis. & Nash. , St. Lawrence & Ottawa ........•..... Canadian Pacifl.c. McKeesport & Beile Vernon ........ Pittsb.McKeesport&Youghiogheny. St. Louis Alton & Springtield ....... St. Louis ChioaJ:?:o & St. Paul. Memp~s Clar~sville & Louisville ... Louisvill~ & Nashv~e. . . , St. Louis Alton & Terre Haute ..... Illinois CentrafSystem. Memphis Eqmpment ................ Kansas C1.ty Memphis & B:rnmng I?- · St. Louis Arkansas & Texas......... St. Louis Southwestern. Memph!s Kans~s & Colorado ........ K~a~ City Fort S~ott & Memphis. St. Lo~s Brid~e & Tunnel..•...•.... Termin~l Asso~iation of St. Loui&. Memphis & Ohio ..............•...•.. Lomsville & Nashville. St. Loms & Chicago .................. St. Lows Peoria & Northern. Merchants' Bridge ................... St•.Louis Meroh'ts' Bridge Ter. RR. St. Louis Council Bluffs & Omaha... Wabash. Menominee River .................•.. Chicago & North Western. St. Louis & E11stern ................. St. Louis Peoria & Northern. Metropolitan Elevated .............. Manhattan Elevated. St. Louis Iron Mount'n & Southern.. Missouri Pacific System. Metropolitan Fflrrv ...............•.. Long Island. . St. Louis Jacksonville & Chicago .... Chicago & Alton. Michigan Equipment............•... Chi~ago & West Michigan. St. Louis Kansas City & Northern ... Wabash. Midland of In<liana ................... Chic~go and Southeastern. St. Louis Keokuk & S. W ............ Chicago Burlington & Quincy. Midland of Nt-w Jersey .••........... New xork Susquehanna & Western St. Louis Salem & Arkansas ......... St. Louis & San Francisco Milwaukee Lake Shore & Western .. Cb.!cago & North Western. St. Louis Southern............•...... Illinois Central System. Milwaukee & ~ h dison ............... Chicago & North Western. St. Louis Wichita & Western ..•..... St. Louis & San Francisco. ~lwaukee & Nonhern .•.••••....... Chicago ~lwaukee & St. Paul. "St. Paul" ......•................•.... Chicago Milwaukee & St. Paul. Milwaukee & St. h ,ul..•..••......... c1:11oago M~lwaukee &.St. Paul. st. Paul Eastern Grand Trunk ...... Chicago & North Western. Minneapolis & Duluu •••..••........ M1nneapolis & St. Loms. St. Paul Minneapolis & Manitoba ... Great Northern. Minneapolis & Pacific •.•..•••....... ~eap. St. P. & Sault Ste. Mar~e. St. Paul & Pacific ..............•..... Great Northern. Minneap. Sault Ste. Marie & Atl'tic.M1nneap. St. P. & Sault Ste. Marie. St. Paul & Sioux City bonds .......•. Chic. St. Paul Minn. & Omaha.. Minneapolis Union ..•.•••............ Great Northern. St. Paul & 8. C., land grant stock ... Miscellaneous Companies. Minneapolis Western .•.............. Great Northern. St. Paul Stillwater & T. F ........... Chic. St. Paul Minn, & Omaha. Minnesota Centr:> l. ................. . C~cago Milwaukee & St. Paul. Sanford & Lake Eustis ............... Jacksonville Tampa & Key West. Minnesota & N or1 hwestern .......... Ch1cago Great Western. Sault St. Marie & South western ..... Chic. St. Paul Min.neap. & Oma.h~ Minnesota St. Croix & Wisconsin ... Wisconsin Central Company. SavannahAmericus&Montgomery.Georgia & Alabama. Minnesota Valley .................... Chicago & North Western. Savannah & Atlantic ................ Central of Geor~a. . Missisq_uoi Valley .................... Central Vennont, Savannah Albany & Gulf ............ Savannah Florina & Western. Mississ1.J?pi River Bridge .........•.. Chicago & Alton. Savannah & Charleston.............. Charleston & Savannah. Missouri Kansas & Eastern ..... . .... Missond Kansas & Texas. Savannah & Western ................ Central ef Georgi a Ry. Missouri Valley & Blair RR. Bridge.Chicag<? & North Wes~ern. Schuylkill River East Side:.......... Baltimore & Ohlo. Missouri &Western .................. St. Loms & San ~ancisco. Scioto Valley & New England ....... Norfolk & Western. Mobile & Girard ..................... Central of Georgia Ry. Seaboard Air Line ............•...... Seaboard & Roanoke. "Monon Route" ..............•....... Chicaw Indianapolis & Louisville. Seattle & International. ............. Seattle Lake Shore & Eastern. Montana Central. ... . ............•... Great ortbern. Seattle & Northern. .................. Oregon Improvement. Montauk Extension RR............. Long faland . Shenandoah Valley .................. Norfolk & Western. Montgomery & Eufaula............. Central of Georgia Ry. Sherman Denison & Dallas ......... Missouri Kansas & Texas. Mon"t!eal Portland & Boston ....... . Cen_tral Vermont. Sherman Shreveport & Southern ... Missouri Kansas & Texas. Morris Canal ......................... Lehigh Valley. . Shore Line ............................ N. Y. New Haven & Hartford. Muskegon Grand Rapids & Indiana.Grand Rapids & Indiana. Short Creek & Joplin ........•....... Kansas City Fort Scott & Memphiea.. Nantasket Beach RR ...•.......••••. New York New Haven & Hartford Sioux City & Pacifio ................ Chica$'o & North Western .. Nashua & Lowell ........•.••.....••. Boston & Lowell. . Sioux City & St. Paul ................ See Miscellaneous Comparues. Nashua & Rochester ................. Worcester Nashua & Rochester. l:lmithtown & Port Jefferson......... Lon~ Island. . Nation al Cordage ...•.••....•........ Standard Ro Re & Twine. Sodus Bay ~ Southern ...•........... Elmira & Ll=!-ke Ontario .. Nebraska .......................•.•••. Chicago Burlington & Quincy. South Caro.lina ...................... South Carolina.& Georgia, New Albany Belt & Terminal •.•.•.. Louisville Evansville & St. Louis. South Florid.a ...... ··:···············Savannah Florida & Western. New Brunswick ................•.... Canadian Pac1.t10. South G:eorgia & Florida...........•. Savannah Florida & Western . Newburg &New York .•.........••.. Erie RR. South Side (Va.) ....................... Nor~o~ & Western .. New Haven & Derby ••••...••••..... New York New Haven & Hartford. Southeastern & St. Loms .••..•...... Lon;sville & Nashville. New Jersey Midland .••..•••...•...•. New York Susquehanna & Western. Southern Centr~l. ....... : ............ Lehigh Valley .. New Jersey Southern .•....•••.•••... Central of New Jersey. Southern Georgia & Florida ..•....•. Sayannah flor1da & Western. New Orleans & Gulf ...........••••... New Orleans & Southern. Southern Min?-esota .......•......•.. Chicago Milw?,ukee & Sp. Paul. New Orleans Mobile & Texas ........ Louis. & Nash. (N. O. & Mobile Div.) Southern Pacific Bra11;ch ............. Southern Pacific of California. New Orleans Pacific ......••..••.••.. Texas & Pacific. Southern PennsJ;lvarua ........ : ..•.. Cumb.erland Valley. Newport & Richford ..........••..... Connecticut & Passumpsio. Spartanburt! Umon & Columbia ... Asheville & 8.J?artanburg: Newtown & Flushing ...........•.•.. Long Island. Spokane~ Palouse ...........••...... N~rthern Pl!-oifio. New York Bay Extension ..•.....•. Long Island. Steubenville & Indiana:······· ...... Pittsburg CIDJ?-. Chio.,~ 81;. Lou.le... New York Elevated .........••..••••. Manhattan Elevated. Stoc~n & Copperopolis.: ........... Southern Pam:fl.~ of. Oalifornia. New York & Erie ..................... Erie RR. SturglB Goshen & St. Loms ...•.•.... Lake .Shore & Miohig3!n Southern,.. New York Lake Erie & Western ..... Erie RR. Sugar Trust ....•..................... Am.er10an Sugar R~tining. New York & Long Branoh ........... Central of New Jersey. Sunbury & Erie.·:····················P~adelphiR. & Er1.e. New York & Manhattan Beach ..•... N. Y. Brooklyn & Manhat. Beach. Superior Shor-t Lme ................. Chicago St. Paul Minn. & Omaha. New York & New England ......•... New England RR. Syracuse North:ern ................... Rome Watertown & Ogdensburgo, New York & Northern .............. New York & Putnam. Syracuse Ontario & New York ...•••. WeRt Shore. New York Pennsylvania & Ohio .... Nypano RR. Taylor's Falls & Lake Superior .••.. St. Paul & Duluth. New York Providence & Boston ..... New York New Haven & Hartford. Tarkio Vallev ....•.........•...•...•. Kan. City St. Jos. & Council Bluff~ New York & Oswego Midland ....•.. New York Ontario & Western. Tebo & Neosho ..............•......•. Missouri Kansas & Texas. New York & Rockaway .........•••.. Long lsland. Tennessee Midland ...............•.. Paducah Tennessee & Alabama.. Nodaway Valley .................••. . Kan. City St. Jos. & Council Bluffs. Terre Haute & Southeastern ......•. Evansville & Indianapolis. Norfolk Albemarle & Atlantic ...... Norfolk Va. Beach & Southern. Texarkana & Ft. Smith ............. Kansas City Pittsburg & Gulf. Norfolk & Petersburg .......•...••... Norfolk & Western. Texas Mexican ...........•.......... Mexican National. Norfolk Southern ..................... Norfolk & Southern. Thurber-Whyland.................•. American Grocery Co. lMiscel.). Northern lllinois ..............•...... Chicago & NorthWestern. Toledo Ann Arbor & No. Michigan.Ann Arbor Railway. North Missouri. ......•............•.. WabaF<.h. . '.roledo Belt ...............•........•. Wheeling & Lake Erie. North Shore .......... ··· -t ············Canadian Pacific. Toledo Cincinnati & St. Louis ...... Toledo St. Louis & Kansas City. North Wisconsin ............... ... .... Chic. St. Paul Minn. & Omaha. Toledo Columbus & Cinoinnati. .•.. Toledo & Ohio Central. Northern Pacific & Manitoba Ter ... Northern Pacific. Toronto Grey & Bruce .............. Canadian Pacific. Northern Pacific & Montana ........ Northern Pacific. Troy & Boston ...................... Fitchburg. Northwestern Grand Trunk .•....... Chioago & Grand Trunk. Tunnel Railroad of St. Louis ....•.. Terminal Ass'n of St. Louis. Northwestern Union..•...•.......... Chioago & North Western. Union ......•...................•..... Northern Central. Northwest Virginia .....•...•...••... Baltimore & Ohio. Union Railway of Chattanooga ..... Belt Ry. (of Chattanooga.) Ocean Steamship .............••..... Central of Georgia Ry. Union & Logansport ........•....... Pittsburg Cinoin. Chicago & St. L. Ogdensburg Transit ..............•.. Ogdensbur~l Lake cramplain. Union Steamboat Line .............. Erie RR. Ohio Central. .................•...•.. Toledo & 0 o Centra . Union Ter. Ry. of Kansas City, Kan.Kansas City Suburoa.n Belt. Ohio Indiana & Western ............. Peoria & Eastern. United States Cordage .•............ Standard Rope & Twme. •Ohio Land & Ry. Co ......•..••...... Columbus Hoc~gVal. & Toledo. Upper Coos ..........••..•...•.....•.. Maine Central. Ohio & Mississippi ..............•.... Baltimore. & Ohio Southwestern. Utah & Northern .•.........•..••.... Oregon Short Line. Ohio & West Virginia .•.......•...•.. Col. Hoo.king Valley & Toledo. Utah Southern .............••..••.... Oregon Short Line Ontario & Quebec ..............•..•.. Canadian Pacifl.c. Utica & Black River .....••...•...... Rome Watertown & Ogdensburg. Oregon Pacific....................... Oregon Central & Eastern. Valley Ry. of Ohio .................. Clev:ell:!-nd Terminal & Valley. Oregon Short Line & Utah Northern.Oregon Short Line. Venice & Carondelet ..............•. Lomsville Evans. & St. L. Consol. Oswego & Rome ...................•. Rome Watertown & Og_densburg, Verdigris Val. Inde:pend'ce & West .. Missouri Pacific. Ottawa Oswego & Fox River........ Chicago Burlington& Quincy. Vicksburg & Meridian ......•.....•.. Alabama & Vicksburg. Ottumwa Cedar Falls & St. Paul .... Chicago & North Western. Virginia & Tennessee .......••....... Norfolk & Western. Paol:fl.o Coast .....•...•............•.. Oregon Improvement Co. w a.co & Northwestern ....••.....••.. Houston & Texas Central Railway_ Paducah Tennessee & Alabama .... Louisville & Nashville. River ............••............. Boston & Albany. Pawtuxet Valley.............•..•.... New York New Haven & Hartford. Wa.re Warren & Venango ........•........ Dunkirk Allegheny & Pittsburg. Peninsular (Mich) ..............•..... Chicago & North Western. Warwick Valley ...................... Lehigh & Hudson River. Pennsylvania & N. Y. Canal. ....... Lehigh Valley. Washington dlty & Point Lookout.Baltimore & Ohio. Penn. Poughkeepsie & Boston .••... Lehigh & New England. Washington Ohio & Western .....•.. Southern Ry. Penobscot Shore Line..•.....••..•... Mame Central. Waynesburg & Canton .........•..... Cleveland Canton & Southern. Pensacola & Atlantic ..•............. Louisville & Nashville. Wellston & Jackson Belt .••....•••. ColumbusHookingValley&Toledei. Philadelphia Marlton & Medford ... Camden & Atlantic. Western & Atlantic ......•..••....•. Nashville Chattanoo'I,a & St. Loui&. Philadelphia & Reading ......•..••. Reading Company. Western Minnesota .......•.......... St. Paul & Northern aoifl.o. Pittsburg Akron & Wef:ltern ...•.... Northern Ohio. Western North Carolina ...••........ Southern Railway. Pittsburg Cincinnati & St. Louis .• ; .Pitts. Cinn. Chio. & St. Louis. Western Paci:tl.o ......•...........•... Central Pacific. Pittsburg & Connellsville............ Baltimore & Ohio. WestJersey .......................... West Jersey & Seashore. Pittsburg Shenango & Lake Erie ... Pittsburg Be semer & Lake Erie. West Jersey & .Atlantic ............. W~st Jersey & s.eashore, Pittsfield & North Adams ........... Boston & Albany. WestWisconsin ........•............. Chio. St. Paul Minneap.& Omaha. Pleasant Hill & De Soto .....••...•.. Kansas City Clinton & Spring:fl.eld. Wilkesbarre & Eastern ....••........ N. Y. Susquehanna & Western. Plymouth & Middleboro .....••..•• . Old Colony RR. Willmar & Sioux Falls ....•......... Great Northern. Port Huron & Northwestern ........ Flint & Pere Marquette. Wilmington & Conway .........•.•.• Wilmi~gton Columbia & Augusta.. Portland & Kennebec .....•..•..•.... Maine Central. Wilmington Ry. Bridge ........•...•. Carol ma Central. Portland & Ogdensburg ...•..••..... Maine Central. Winona & St. Peter ..........•...•... Chicago & North W~tern. Port Royal & Augusta.•··········· l Charleston & Western Carolina. Wisconsin s: Minnesota ..•.......•... Wisconsin Central Company. Port Royal & Western Carolina .. S Wisconsin Minnesota & Paci:fl.o ..•... Minne&polis & St. Louis. Portsmouth Great Falls & Conway .Boston & Maine. Wisconsin Valley .•......•..•••..•.... Chicago Milwaukee & St Paul. Postal Telegraph Cable ...........•. Commercial Cable. York &Peach Bottom ..•...••.•••••. Baltimore & Lehigh. Prairie du Chien ...........••...•.... Chicago Milwaukee & St. Paul. Zanesville Terminal. •••••••••••••••. ColumbuP Sandusky & Hooking Qo.incy Alton & Bt, I.-nnt~ ••••••••••• Chioago Burlington & Quincy. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I I RAILROAD COMPANIES. (FOR MISCELLANEOUS COMPANIES SEE PAGES 141 TO 155 INCLUSIVE.) EXPLA.N A.TORY.-This SUPPLEMENT is expressly intended for use in connection with the investment news and annual reports published from week to week in the CHRONICLE. Frequent references are therefore made to the volume and page of the CHRONICLE (as, V. 64, :p. 000) nere fuller information may be found. Following each statement also is given a reference to the latest news item in the CHRONICLE respecting he company. As every such item contains a reference to the last preceding item, the reader can run back over the company's history t; pleasure. Annual reports are in black-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 be found by means of the index to roads leased and consolidated. Dividends.-The di11idends tabulated in the text are those actually paid during the calendar years named, irrespective of when earned. Net earnings are given after deduct1ng 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 of space, sometimes only in text below] as follows: Miles of Road.-Opposite bonds, this means the miles of road owned covered by the mortgage. Size or Par Valite.-Shows (in dollars unless otherwise marked), the denominations or par value, "100, &c.," signifying $100 and larger. Rate Per Oent.-The interest and dividend rate, per annum is hE>re shown; g., gold.; cur , currency; x, extra; s. stock or _scrip. WhenPayable.-J. & J. stands for January and July; F. & A., February and Aug,1st; M. & 8., March and September; A. & 0., April and October; M. & N., May and Nov.; J. & D., June and Dec.; Q.-J., quarterly from Jan.; Q.-F., quarterly from Feb.; Q.-M., quarterly from March: Bonds,principal when due, etc.-This column shows the date when the bonds mature and the amount and date of the last dividend • .Jibbreviations in table: M. for" mortgage;" gen. M. for "general mortgage;" con. M. or consol. M. for "consolidated mortgage;" inc. M. ·or "income mortgage;" g. for "gold;" c. or cur. for "currency;" guar. p. & 1. for "guaranteed principal and interest;" cum. for ·•cumulative;" non-cum. for "non-cumulative;" conv. for "convertible;" pref. for "preferred;" s. f. for "sinking fund;" 1. gr. for "land ,grant;" r. "registered;" c. "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 lot; "p. m." "per mile;" as'd "assumed." "x"Principaland interestpayat,le without -d.eduction for any tax which the company may be required by law to pay. "n" No more issuable. Mortgage Trustees are indicated thus: NEW YORK CITYA- Atlantic Trust. Central 'l'rust. F- Farmers' Loan & Trust. G- Guaranty Trust. K- Knickerbocker Trust. Ma-Manhattan Trust. Me-Mercantile Trust. M ~Metropolitan Trust. N- N. Y. ~ecurity & Trust. S- State Trust. Un- Union Prust. CUs- United States Trust. : ,C- AB-American L oan & •.rrust. BB-Boston Safe Dep. & Tr. IB- International Trust. MB-Massachu'tts Loan & Tr. N 8- New Eallland Trust. OB- Old Colonv Trust. BOSTON- CHICAGOEU- Equitable Trust. IC- Illinois Trust & Sav. Bk. MC-Mercbants' Loan & Tr N l!- Northern Trust. RC- Royal Trust. UC- Union Trust. B Ba- Bait. Tr. & Guaranty. FBa- Fidelity & Deposit. MBa- Maryland Trust.. Me Ba-Mercantile Tr. & Dep. S Ba- Safe Dep. & Trust Co. CUi-Ceutral Trust & Safe Deposit. UCi-Union Savings Bank & Trust. RALTl MORE- • CINCINNATI- LOUISVILLE- CL-Columbia Finance & Tr. FL-Fidelity Tr. & Safety Vlt. LL-Louisville Trust. PHILADELPHIA- PITTSBURG- FP!-F\delity Title & Trust. P P1-P1ttsburg Trust. UPi-Onion Trust. ST. LOUIS- FP- .l:l'idelity Insur'nce Trust MSt-Mississippi Valley Tr. SSt- St. Louis Trust. & Safe Deposit. GP- Girard Life Insurance USt- Union Trust Aanutty & Trust. PP- Penn. Co. for Insur. on SAN FRANCISCOCS-California Safe Deposit Lives & Gr. Ann. WP-West Rlnd Tr. & S. Dep. & Trust. Subscribers will c«'.nfer a great Cavor °!>Y giving immediate notice of any error discovered in 'these Tables. Bonds-Prinol RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Due Amount Rate per When Where Payable, and by pal,When Stocks-Last For explanation of column headings. &c. see notes of of Par Outstanding Dividend. above. Road. Bonds Value. Cent. Payable Whom. --- - - - Aberdeen~ West End-lat mortgage gold ... ____ ,_ .. Addison~ Pennsylvania-1st mort. for $350,000g. 29 .... S~cond mortfiage, $350,000_. _______________ ....,_-. ·Adirondack.- st M., gold, gu. p. & i. end., lJs.c &r 57 Atabama Great South'n-"B" shares (En lisb Oo.) _ 290 Pref. "A" shares, (English Oo.) 6%, £8 0,000:._, 290 1st M. (American Oo.) gold, $1.750,000 ... ___ F .c 290 Gen. M., £1,160,000,red. at 110 June 1, '98.C.c 290 Debentures, gold (English Co.).---··. _____ .. ____ .c Income certificates sinking fund (Enj!,'lish Oo.) ... . Allabama Midland-Common stock. ____ .. _____ ._. __ • Pref. atock, 6 p. ct;, non-cum.; no voting power .. 1st M., guar. p.&i. end. Sav. F. & W., gold.ltlp.xc i75 1st M., B£rague to Luverne, gold....... __ . lUp .xc* 33 a_f,a,, N. 0. ex. ti Pac. June.-Deferred "B" shares ... Preferred "A" shares, 6 p. c. cumulative.. --······ .... "A" deben., red. aft. Nov.l,'10, at 115-See te~.c .... "B" debentures, income, red. after 1910 at 115.c "C" deb., income,subject to call any time at 100. Interest cert. (secured by £34,193 "O" deb.). __ . 0 3 -··· --- 1890 ···-·· 1892 1892 1892 $i:ooo ···--· ---- i878 1888 1888 1888 --· ---· labama ti Vicksburg-Stock _________ ····---···---·- Vicksburg & Mer. 1st M. gold, $1,000,000.. F .xc n No further bonds issuable. isss 1890 --· .... isoo 1890 ---1890 ---i¥3 ---143 issi .no £10 $1,000 £100 £100 Various. 1100 100 $1,000 1,000 £10 £10 £50 &c. £20 &c. £20 &c. 100 1,000 A.berdeen & West End KK.-Aberdeen to Star, N. C., :i3 m.; branch to Troy, N. C., 8 m. Stock, $150,000; par, $100. Earning;i in wear 1895-96, gross, $51,060; net, $13,909; interest charges, r4,253. A.ddison & Pennsylvania Ky.-Owns road Ad.d.ison, New York, to Gaines, Pa., 41 miles; leastis Gaines to Galeton, Pa., 5 m. A reorganization in 1892. STOCK June 30, 1897-Common, $568,900; preferred, $197,586; loans and. bills payable, $296,547; other obli,gations, $22,106. Interest due June 1, 1895, on 2d mort. was not paid. -See V. 61, p. 557. For year ending June 30, 1897, gross, $44,200: •-deficit for year under oper. expenses and charges,$ L8,754. In 1895-6, ,gross, $55,029; net, $7,057; othtir inoome, $6,4d7; interest on bonds, :$15,894; interest on current liabilities, $18,621. (V. 61, p. 469, 557.) A.dirondack. Ky .-Saratoga to North Creek, N. Y., 57 m. Stock, $2,600,000; par, $100. The t>onds carry the endorsed guaranty of the Delaware & Hudson; $1,000,000 bonds reserved for extensions at -$20,000 per mile of completed road. In year ending June 30, 1897, ,gross,$199,725; net,$67,81?; otherinco~e, $7,121; charges, $52,146; In 1895-96,.gross, $190,244, net, $69,223. (V. 59, p. 1102.) A.labatna Great Southern KR.-( See Map Southern Railway.JOwns Wauhatchie, Tenn., to Meridian, Miss., 291 miles; branClh lines ,owned, 6 miles; leases Wauhatohie to Chattanooga, 5 miles. and Belt Ry. of Chattanoog;a, 43 miles; trackf:l.ge to Blockton, A.la., 8 miles, and Woodlawn, 19 miles; total operated, 372 miles. O&GANIZA.TION.-Controlied by Southern Ry., but operated tndepend-ently under agreement with Cincinnati Hamilton & Dayton. See V. 60, p. 26; V. 61, p. 375. Ala. Great Southern Ky. Limited owns all of the :etock and debentures oC 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. Pac. stook. See V. 65, p. 1173. · Bl'OCK.-Of the capital stock of the English Co. ~he Southern Railway -Oo. on July 1, 189 7, owned $1,725,000 "A" shares and $4,540,050 "B" -shares. V. 61, p. 26. For right to dividends see SUP. of March, 1894. DIVIDEND-} 1889. '90. '91. '92. '93. '94. '95. '96. '97. "A" shares.% 6 9 6 6 0 0 6 0 9 4 'B" shares.% O O 112 112 o o o o o BONDS.-General M. 6s, £484,000, will retire 1st 6s and debentures. LATEST EARNINGS,-5 mos., ~ 1897 .•. Gross, $'7:27,852; net, $2~9,836 July 1 to Nov. 30 <1896 ... Gross, 694,246; net, 2~7,476 ANNUAL REPORT.-Report for year ending June 30, 1897, was in V. •65, p. 776, showing gross, $1,605,546; net, $502,505 ; other income, -$5,511 ; interest and rentals, $280,134; other charges, $17,960; balance for stock, $209,922; djvidends on stock or Amerioan co. (6 p. c.), •190,570. In 1895-6, gross, $1,634,093; net, $50ti,792; interest on bondl!!, $265,435; income tax, etc., $17,018; balance for stock, $224,..339. See V. 64, p. 325, for statement of English Co. June 30, 1896.-(V. 64, p. 325; v. 65, p. '2''76, 1173.) JI~;£ ~;. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6g. J. &,, J. Balt.,Mer. Tr.& Dep.Oo. Jan., 1910 $50,000 5 g, J. & ~- New York, 49 B'way. Dec. 1, 1932 69,000 J. & D. Dec.,'94, coup.last paid. Dec. 1, 1932 289,000 4 1,000,000 412g. M.& 8. N.Y.Of.,21 Cortlandt St. Mar. 1, 1942 Dec., 1892 · London. £1,566,000 ---6-- J. ····£676,070 & D. do Dec.17,'97,3% 6 g. J. & J. N. Y.,Farm.L.&Tr.& Bos Jan. 1, 1908 $1,750,000 £526,000 5 g. J. & D. London,Glyn,Mllls&Oo. Dec. 1 1927 6 g. F&A15 do do Aug. 15, 1906 £134,000 By sink' g fund 4 do do £53,257 $2,625,000 fPlant In vest.-co . owns $2,425,000 of th !B-~ 1,600,000 Plant In vest. Co . owns $1,200,000 of th 18. 5 g. M.&N. N.Y.,Met'politan Tr.Co. Nov. 1, 1928 02,800,000 500,000 6 g. J. & D. Dec. 1, 1929 £2,500,000 ...... . .... ······-··· £1,500,000 ·--5-g. M:-&·N. Bee remarks . NovX,19i0-40 £718,850 Bee remarks. Nov.1,1910-40 £1,0!8,390 5 g. M.&N. See remarks. Nov. 1, 1940 £810,652 5 g. A. & 0. £28,494 ...... ..... New Orleans, Office. Sepf i°.-'{)6,3% $700,000 ---6-g. A."-&··o. N. Y., Central Trust Co. Apr. 1, 1921 nl,000,000 ···-··---· ------· Uabama Midland Ky .-Owns Bainoridi,re, Ga.• to Montgomery -\.h., 175 miles; branch, Sprague Junction to Luverne, 33 miles; total owned, 208 miles. Operates Abbeville Southern, Abbeville Junction to Abbeville, 27 miles; completed Nov., 1893. BONDS due 1928 have heen reduced from 6 to 5 p. c. 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 accounts payable June 30, 1896, $1,472,115. EA.RNINGS.-5 mo~ths, <1897 ..... __. Gross, $290,68!5; net, $55,804 July 1 to Nov. 30. 51896 .. _. ____ Gross, 278,972; net, 53,316 For year 1896-97, gross, ~671,456; net, $111,1150. In 1895-96, gross $624,182; net, $91,729. In 1894-95, gross, $535,393; net, $24,571. \.labama New Orleans Texas & Pacific Junction Kall• -w-ays Oo. (Lhntted.)-This is an English company controlling Alabama & Vicksburg, 143 miles; Vicksburg Shreveport & Pacific, 189 miles; New Orleans & North Eastern, 196 miles. SECURITIES OWNED.-Ala. & Vicksburg $30,000 1st mort., $387,700 2d mort.incomes and$387,700 stock; Vicksb. Shreveport & Pacific, $3,692,000 1st mortgage, $1,364,000 3d mortgage, $494,860 4 p. c. incomes and $1,594,000 stock; New Orleans & North East., $4,900,000 1st mort. and $4,320,000 stock; Cincinnati So., $532,000 stock; over due coupons, N. O. & N. E. and V. S. & Pac. Dec. 31, 1896, £923,117. COUPONS PAID- For 1891. 1892. 1893. 1894. 1895. 1896. "B" Debentures.. P. c. 212 212 O ·875 1 212 Feb.'97 "A" do All coupons paid to Nov., 1897, inclusive. EA.RNINGS.-See separate statement tor each of the controlled com• panies. Report of the Junction Rys. Co. for year ending Dec. 31, 1896, was in V. 64, p. 325, showing net receipts from investments were £68,571; paid general expenses (£3,590), income tax (£1,428), interest on·• A" debentures, (£36,194), on "8" debentures (paid Feb. 8, 1897), £25,336; balance £2,085. V. 64, p. 325. A.labama & Vicksbur.g Ky.-Owns Vicksbur~ to Meridian. Miss. and branch, 143 miles, all steel rails. Controlled by Alabama New Orleans Texas &Pacific Junction Co.-which see. Reorganization of · ·the Vicksburg& Meridian foreclosed Feb. 4, 1889 (see V.48, p.190). DIVIDElNDS.-Nov., 1890, to Nov., 1892, 3 p. c. yrly; 1896, Sept., 3 p. c. BONDS.-The new seconds were income till April 1, 1894, and are a, first lien on the bmds-92,069 acres. 01 the $1,800,000 console authorized, $1,000,000 are with trustee to retire V. & M. firsts. Right to ca.IL Vicks. & Meridian assenting bonds expired April 1, 1897. EA.RNINGS.-Fiscal year ends June 30. Report 1896-7, V. 65, p. 617 Years- Gross. Net. Interest, etc. Bal. sur. Dividend. 1896-97... $637,528 $186,393 $125,412 $60,981 $21,000 1895-96. . . 575,072 160,958 125,811 35.147 1894-95... 555,677 130,"HO 124,260 5,950 -(V. _59, p. '2'36; V. 61,p. 514; V. 63, p. 555,650; V. 65, p. 617.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF 0 THE ANN ARBOR RAILROAD AND ITS CONNECTIONS. JANUARY, RAILROAD STOCKS AND 1898.J BONDS. 9 Sub•crlbers will conf'er a great f'avor by giving Immediate notice of' any error discovered In these Table ■ • Bonas-Prlnot RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or When Due. Amount Rate per When Where Payable and by pal, p or explanation of column headings, &c., see notes of of Par Stocks-L&8t Outstanding Cent. Payable Whom. Road . .Bonds Value. Dividend. on first page of tables. --- --- ----- - - - A labama & Vicksbi,rg-( Ooncluded)Ala. & Vicks. consol.lstM., ($1,800,000) gold.c.c 143 2d M., orig. $700,000, inc. till Apr., 1894, g.c.c 1 143 A lbany & Northcr·n -Stocli ...•........•............. . 1st mortga,ce ...................................... c .... A Lbany <f .Susq.-Btock,divi'dsguar. byD.&H.(eud). Con. M. ~uar. p. & i. by D . & H. end,). F ..... c*&r i¥2 12 .A lbany & ermont-Stock . .......................... .A tteglteny & Kinzua-lst M., $500,000, ~old .. C.c* A llegheny Valley-Common stock for $1 ,000,000 .. 259 Preferred stock for $18,000,000, 3 per cent cum. 259 1st M.t low fade,East'nExt., guar. Penn. RR .. c 259 Mort. o Sta Pa., $100,000 due Jan. 1, yearly.. r 259 Gen. M. ,$20,000,000) g., gua.r.l.& 1. FPI.x.c*&l' 259 Reading Ry,) .. ."3 A tlentown .RR. (leased to Phila. A llentoum '.l'erm't-lat M., gua.r.p.&i.(end.)g.C . . xc* A nn .A.1·bor Railt-natt-Common stock ............... .... Preferred stock ($4,000,000), 5 p. c., non-cum ... ·-·1st mo~gage,1p,ooo,ooo, ~oJd ........... llip x .c* ~92 A nnaj;flis Washi~ton d Ba timore.-Stock ........ 20:lg 74 d. rk. idl'd-lst . ($6,000 p. m.)g.,red.atllO.C c* A shland Ooat d Iron Railway.-lst mortgage ..... ·-·· A tchi_son Oot. ~ Pacific-lat M. ($16,000 p. m.) 1lj1 .. cw 254 84 .A tchisonJeicell Oo. & West.-lstM.,guar. C. B. . P.c A tchison Topeka & Santa Fe By .-Stock, com .. 6,935 Stock, preferred, 5 p. c., non-cumulative ......... . ... . Chic. & St. Louis 1st M. ($10,000 p. m.) cur.F .. c 141 --· n No further bonds issuable. 1889 $100&e. 1889 100 &c. 100 it·9·6 1,000 100 1,000 i876 100 1,000 isso .... 50 50 isfo $&£ 100,000 1870 1,000 1892 50 1,000 1889 100 ..... 100 1,000 i895 100 1,000 189i 1880 1879 1,000 1879 .... 100 100 ---- 1,000 1885 i:ooo Net. Ohar. &taxes. Bal.,sur. 1896-7 $3 924 524 $1651 131 $1102 614 $548,517 1895-6~::::::::::.-:::.· 4;212;762 1:11:!0;664 1;085;649 705,014 -(V. 62, p. 318,907; v. 63, p. 355, 879.) A.lbany & Vermont KK.-Owns road from Albany to Waterord Junction, N. Y., 12 miles, Leased to Rensselaer & Saratoga in l860 and now operated by D. & H. Canal Co. Annual rental $20 000. ' ' A.lleg.heny & Klnzua KK.-Bradford :to Coffee Run, Pa.,_ 14 mile~; G1l_bert, Pa., to Red House, N. Y., 21 miles; bra~o~es, 7 miles. Rece_1ver 1s F . W. Kruse, Olean, N. Y. Foreclosure de01s1on has been -0btamed, but no date of sale set to Feb., 1898.-(V. 6-l, p. 662.) A.lle~heny Valley Kallway.""'."'Owns from Pittsburg to Oil City, Pa., 13.1:_ miles; Red B.ank,.Pa., to Driftwood, 110 m; otl';ers. 17 mil~s. Brookville, Ry., 13 miles, 1s controlled (no bonds to be issued upon 1t) -see V. 64, p. 1179. ORGANIZ~TION, &c.-Reorganization March 1, 1892, of the Allegheny Valley Railroad, sold in foreclosure Dec.15, 1891. Piao ofreorganiza,tion;eto., was in V. 53, p. 324, 368, 520; V. 5.4, P· 409,524. Road O':)ntrolled by the Pennsylvania RR. Co. as m3iJor1ty stockholdAr, o.wrung '$9,653,800 common and $10,906,106 preferred stock. Wordmg of pref. certificate was in editorial of SUPPLEMENT of Oct. 30, 1897, p. 3. B Th l 0 t f $ 20 000 000 f t b d haso~oipal ~if'J1:i~re~ ~c~~dig~nally gu~ra.nte~f i:~::ien~!1y1~ va.nfa. RR. by endorsement on each bond. Of these bonds $12,202,000 ,(being the principal and 8 per cent additional of the prior liens not divested) were reserved to take up the vrior liens as they mature, and $'1,000,000 were held for the future purposes of the company. EARNINGS.-11 months, c1897 ...... Gross, $2,324,947; net, $982,133 Jan. 1 to Nov. 30. 51896 ...... Gross 2 142 287· net 759 5 36 . ' ' ' ' ' .' ·ANNUAL REPOR:X-,-.For year ending Dec. 31, 1896, r~port was m v. -t>4, p. 1178, sho~mg: Gross, $2,:341~612; net, $832,508; mterest1 ta~es, etc., $1,050,897, balance, def101t, $218,3e9. In 1895, gross, $2,569,· 082; net, $99 9 , 42 8, (V. 62 • p. 776 • 777 ; V. 64 • p. 1178 ·>. A.llentown KK.-Topton to Kutztown. Pa.,412m.; Readmgsystem. A.llentown Terminal KK.-Owns 312 miles of railroad in Allento_wn Pa., connecting the East Pennsylvania (Philadelphia .& Rea~ng) with the Central of New Jersey. Least}d for.999 years to Phil(!,delphia & eading and Centr~l of New Jersey (by assignment from Lehigh Coal & avigation Co:I at mterest on bo~ds and 5 p._c. on $450,ooq stock (par 50), bonds bemg guaran~eed, P.rmcipal and mte!est, by Philadel~hia & eadl:ng (foreclo~ed) and Lehigh Coal & _Na;vigation. The Phila. & ea.ding Ry. Co. m 1896 assumed the Readings share of the old lease. A.no Arbor BK.-( See .Jfap.)-ROAD.-Owns road from Toledo, O., orthwesterly to Frankfort, on Lake Michi.1zan, 292 miles; operates car ferries between Frankfort, Mich., Kewaunee and Maintowoc, Wis., .and Menominee and Gladstone, Mich. The Flint & Pere Marquette nd Cincinnati Jackson & Mackinaw use the Toledo terminals. ORGANIZATION.-Successor Nov. 1, 1895, to Tol. Ann Arbor& Nor. ·ch., sold in foreclosure in 1895 and reorganized under the Quintardawrence plan in v. 59, p. 782, the Escanaba. Frankfort & s. E. eing formally absorbed. STOCK.-Wording of preferred stock certificate was in editorial in UPPLEMENT of Oct. 30, 1897, p. 3 . BONDS.-The first mortgage (trustee, Metropolitan Trust Co., N. Y.) over entire property, including terminals and freight boats. EABNINGS.-Jan. 1 to Nov. 30 (11 month ), m 1897, gross, $L,190,063, et, $390,062; and in 1896,gross, $1,056,603. For year ending Oct. 31, ~97, gross, $1,280,946; net, $366,750; interest, $233,33::i; taxes, 25,671; other expenses, $4,468: bal., surplus, for year, $103,278. uring 1896 the net earnings were put into tb.e property. Calendar ear 1896, gro s, $1,160,426; in 1895, $1,106,235. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 g. A. & O. N. Y., Central Trust Co. Apr. 1, 1921 5 g. A. & O. Apr. 1, 1921 do do ·······--· Jan:·i·.··i94a 5 . ........... J. ··&:· J. 7in 1897 J. & J. N.Y.,Del.&Hud.Can.Co. Jan., '98, 319 6g. &7 A. & 0. do Apr. 1, 1906 do Troy,N. Y. M.&N. 3 Nov., '97, 112% In default. 5 g. F. & A . In instalim'ts. ........... ...... --··· 6°i..oi=1 A.'·&··o. Phil.,Pa. RR. Co. &Lon. 5 incl.4,.1, 4 g. ··--·· ........ J. & J. M. & 8. 071,400 J. & J. ..... -.... --· Aprii.i:°i910 Pittsbur~, Pa. Jan. J ,'99, etc. Philadelphia,Pa. RR.Co Moh. 1, 194.i under Reading Co. mort. of 1896. New York 11nd Phila. July 1, 1919 -------··· 4 g. Q~.::j . N.Y., Metropoi.°Tr. Co . See text J. & J. Stk.own.by B.& .A..Sh.L. ·6 g. .r. & J. N. Y.,H. Tallmadge& Co. F. & A. 7 6 ~.-F. Aug., '93, coup. last pd. .-F. Aug., '93, coup. last pd. 6 .. --· - ... ............. . ....... 1; Juiy · .i995 See text. July I, 1911 Aug. 1, 1900 May 1, 190a May 1, 1905 . -- .. --. 5 6cur M:·&·· S.N. Y., 59 Cedar Street. Mcii."i," i915 cur. currency. A.lbauy & ~orthern Rallway.-Owns road from Cordele to Albany, Ga., 35 miles. Formerly Albany Florid-1 & Northern Ry. Earnings for year ending June 30, 1896, gross, $32,903; net, $831. A.lbany & Susquehanna KR.-( See Map Delaware & Hudson.)ROAD.-OWClS Albany, to Binghamton, N. Y., 142 miles. Leases, Duanesburg Junction, N. Y., to Schenectady, 14 miles; CoblPskill, N. Y., to Cherry Valley, 21 miles; Lackawanna. & Susquehanna RR., 22 miles; East Glenville to Coons, 10 miles; total operated, 209 miles. LEASED for 150 years from February, 1870, to Delaware & Hudson Canal Co.; which Dec. 31, 1896, ow~ed $450,000 s~ck. Lessee guaran• tees 7 per~ent per an~um on stock till the.A.lbany City loan for $L?OO\J.· 000 is pa~d by sinking fund, tb.ereafi!er 9 per cent. (See wordmg_of guaranty my. 56, p. 774.) The Jast m~talment of the Albany City loan was pa.id May 1, 1897, but the sinking fund fell $296,878 snort of meeting the principal. This amount has been borrowed, payable in semi·annual instalments up to May 1, 1902, and will be met from f4inkin~ fund (now $70,000 yearly) before dividends are increat<ed. .Additions charged to lessors, and cost made pa.rt or investment. BONDS-The consolidated mortgage is for $lO,OOO,OOO, of which $3 000 000 are 7 per cents currency· the princil')al of the 6s is also payable in "lawful money": but the tri.terest in gold. LATEST EARNl os.-3 mos., c1897 .. Gross, $1,155,260; net, $572,270 July to Sept. 30. 51896 .. Gross. 1,071,696; net, 464,437 Charges for quarter, $306,202 in 1897; $298,884 in 1896. ANNUAL REPORT,-Earnings for years endin~ June 30: Gross. $588,800 662,000 3 ,· )0,000 400,000 3,500,000 nl0,000,000 600,000 485,000 10,544,200 16,722,500 9,998,000 1,200,000 5,491,000 1,268,885 n450,000 ' 3,250,000 4,000,000 n7,000,000 358,000 133,000 244,000 4,070,000 542,000 t02,000,000 120,686,000 ul,500,000 Imon DrnECTORS.-PreRident. W.R. Burt; G. W. Quinta.rd, J. Edward Sim, Franlllin B. Lorn, R. C. Martin, H. W. Ashley, Job.n Jacob AstorR. D. Murray, Benj. Perkins, William 0. McClure, .A.. W. Wright, Amos F. Eno. D. C. Tate. (V. 62, p. 455,) A.unapolis Wasbin~tou & Baltimore KK.-Owns road from A.nna.polis to Annapolis ,Junction, 2012 miles Controlled by the Balt. & Ann. Short Line, which owns the stock. (V. 64, p. 1i:t3.1 DrvroENDS- t '87. '88. '89. '90. '9l. '92. '93. '94. '95. '!l6. · '97. Rate p. c. S 5 412 4 414 5¾ 6¾ 512 6·36 41g 414 3 EA.RNINGs.-For year ending June 30, 1896, gross, $59,846; net, $17,996; taxes, $1,877; dividends, $15,193; balaucA, sul'plus, for year, $926. In 1894.-9!'>, gross. $54,7-47; net, $16," 12. President (Sept., 1897) J. Wilson Brown Baltimore. (V. 64 p. 122 J· V. 65 p 410) ' . ' ' ' ' · · A rkan~as llI!dlaud KK."."""Owns from Hel~na, Al'k., to Clarendon, 50 mile ; Pme Ci_t.v- to Brmkley,_Ark., 24 miles; total, 74 1:lllies. To be extended to Indian Bay, L2 ~iles. _The first mo~gage 1s .for ~51~,00~, but $216,000 can O!}lY be 1s_sued m case ~he ent1.re 86 miles 1s laid with 56·pound steel rails . Capital stock, $1,6:l5,000 (par $100.) EARNINGs.-8 months, 5 1,.97 ........... .. Gross, $60,432; def., $4,095 Jan. 1 to Aug. ,H. c18H6 ............ Gross, 56,294; def., 1,129 9 In year 1896• gross, $ 96 , 476 ; net, $l 6 ,0., 2 , In 1895, net, $37,884. .\.shevll)f'I & Spartanburg Ky.-See SPARTANBURG UNION & COLUMBIA RY. A.shla~d Coal & Iron Kv.:--Ashland to Straight <;:Jree}{ Junction, Ky., 22 miles. Chesapeake_& Ohto has trackage over this road. Capital stock, $1,494,500. Floatmg debt June 30, 1895, $135,548. Year ending June 30, 1896. gross, $126,811; net, $59,585. In 1894·95, gross, $104.,106; net, $38,350. A.tchlson Colora~o & .Pacific KK.-Owns Wat~rville, Kan., to L~nora, Kan., 193 miles; Greenleaf, K;an., to Washmgton, Kan_. 7 IIllles; Do~s, Kan., to Alto~. Kan .. 24 miles_; Yuma, Kan., to Warwick, Kan., 31 miles; total, 255 miles. An extenston of the Central Branch Union Pacific Ry., which leased it in 1879 tor 25 years, and guaranteed the bonds. Operated by Mo. Pacific. STOCK, $1,522,400 (par ·8100), of which u. P. owns $920,300. Interest Nov. 1, 1893, unpaid. Earnings include .A.. J. c. & w. Current liabilities Dec. 31, 1896, $797,355. COJUi\UTTEE.-A. c. & P. and A. J. c. & w. bondholders' committee consists of T. Jefferson Coolidge, Jr., Chairman; Oliver Ames, Edward H. Ladd, Jr., James P. Pomeroy, with T. K. Cummins. Jr.• secretary, Room 37, Ames Building, Boston; depositarles, Old Colony Trust Co., Boston, a,,d Union Trust Co., N. Y. A m3ijority of bonds of each road has been deposited. V. 64, p. 516, 663. Foreclosure in progress. EA.RNINGS.-289 miles, ) 1897 ...... Gross, $470,658; net, $83,976 Jan. l toNov.30 11 mos., 1896 ....•• Gross 301 464· def. 24 792 ' ' ' . ' ' • Ln year 1896, gross, $335,oq7; def. _under operating, $21,373. In 1895, gross, $276,703; def. under operating, $43,751. V. 64, p. 516,663; V. 65 • p. ~ 69 · A.tchlson Jewell County & Western KK.-.Tamesto:wn, Kan., to ~urr Oak, Kan., 34 m. Stock, $202,400 (par$100), of which Uru~n Pacific o~s $105,000. Int~rest due Nov. 1, 1893, waJ not paid. See Atchison Colorado & Pac1flc,-V. 64, p. 516, 663; V. 6.:>, p. 869. ( 'l'he) A.tchiso n 'l'opeka & ~anta Fe Kall w-~y .-( See Ma'J!)The ~ystem owned and operated .Jan., 1898, comprised 6,935 miles of railroad, and embraced an unbroken line of tr<1.ck from Chicago, Ill., via Kansas City, Mo., and .Albuquerque, N . M., to California and tb.e Pacific Ocean, a distance of 2,347 miles; also to Galve:iton, Tex., and the Gulf of Mexico, the mileage of lea.ding divisions being: Chicago to Kansas City, Mo .. 4581 La Junta to San Diego, Ca1..1i18 Kan. City to La Junta, Col... 571 Newt,m, Kan., to Galv~ston. 750 La Junta, Col., to Den ver,Col. 130 I .A.lbuquerque,N.M.,to El Paso 254 ORGANlZA.TION.-This company was organized on Dec. 12, 1895 undertbe general laws or Kansas, by tb.e purchasers at foreclosure sale of the property and francuises of the Atchison T. & Santa Fe RR. co. in accordance with a reorganization plan, (V. 60, p. 658.) The railway company holds tb.e title to the railroad rrom .A.tcllison on the Mis~ouri River to the western boundary of Kansa.;i, 471 miles, and also all, or nearly all, tb.e bonds and stock of tb.e various companies in whicb. the title to the other lines is vested. A iist of such holdings is in the general mortgage (in V. 62, p. 732, 733), the bonds owned ag~regating over $16d,000,000 and the stocb over $100,000,000 . .trnroperatingandstatisticalpurposesth• system is divided as follows: .,iteR. I Miles. Atchison T. & S. F ....... .4,542·76 Santa Fe Pac~fl.c .. : ........ 818·55 Gulf Colo. & 8. F ...... -... ~,087·6':) . Southern Callrorma ...... 498·74 Total of all (less 12·69 miles or Jomt trackage) ............... 6,934·96 STOCK.-The preferred stock has preference as to dividends and assets, and entitles the hol\l,ers to non-cumulative dividends after June 30, 1896, not exceeding 5 per cent per annum, as declared by the board of directors out of net profits. No uther mortgage and no increaRe in the preferred stock can be ma.de without the consent of a maiority of all the prererred stock and of all common stock represented at a meetiIU!.'. The total authorized amount of preferred stock is $131,486,000, of whlch $20,000.000 reserved. To acquire A. & P. Wflstern Division, $9,200,000 of this $20,000,000 preferred stock wa~ issm,d in Marcil, 1897. Preferred stock certificate were described iu SUPPLEMENT of April, 1897, page 3. Jamestown MAP OF THE 'Z ATCHISON, TOPEKA Concepcign AND SANTA FE RAILWAY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis o Alamos oSlnaloa ~ 0 F ~ 0 t" ~ <l 1-4 RAILROAD JANUARY, 1898,l STOCKS AND 11 BONDS. Subscribers 'Will confer a great favor by giving Im.med.late notice of any error discovered in t-hese Tables. RAILROADS. or eXl)lanation of oolumn headings, eto., see notes on first page of tables. B01uts-Pr1nc1 INTEREl:3T OR DIVIDENDS., Miles Date Bize,or When Due. Amount Rate per When Where Payable, and by pal, of of Par Outstanding Stocks-Last Whom. Road. Bonds Value. Cent. Payable Dividend. tch. Topeka cl Santa Fe Railway-( Concluded)Guar. fund notes, ext., red. a.t 100, fold, BB ... c 471 Old bonds not assenting to reorg. o 1889 ... o"&r ...... General mortgage of 1895, securingPrior lien bonds, $17,000,000, red. at 103,g.c*&r .... Gener.al mortgage, g(?ld, see text ...... fTn.c:&r 16,935 Adjust.mo.,non-oum. tillJulyl,1900, g., f'x.c &r 6,935 Equip. Tr., Ser. A., $250,000 dr. y'ly at par ... c .... tianta d! Ohartott(}- tock (see text)............ . . . . 269 Pref. M. (old 7s ext. in 1897), see V. 64, p. 286.ck 26512 lstM. [voting power, 10 votes for each bond] cur. r 26512 Income bonds (not cumulative) ............ . ...... ·-·· ..... A tlanta Kno:ev. cl North'n Ry.-Btock $3,000,000 1st moi-tgage, $1,500,000, gold ..........••••. ... C ...... 2d M., ino., $1,500,000 (trust. R.Est. Tr. Co.,N.Y.) Atlanta d! WestPoint-Stock ...•...•..•........•••••• ·s6 Debenture oertificates .....•...•.......•.......•... ·s3 Atlantic Oity-lst M., $2,200,000, 01d, ... . GP.xo .Atlantic Ooast Line Oo.-Stock, $3 ,000,000., ...... ...... Ctfs.of in debt. $6,000,000, int.if e'rned,non-cum.r ··-· ,Atlantic d! Danville-Common stock, $2,500,000 ... ·--· Preferred stock, $3,200,000J non-cum., 5 p. ct ... .... 1st M., $1,500,000, gold, re eemable...... llie.xc 278 Atlantic~ No. Oarotina-i:,took, $1,800,600 ......... .... 1st M., $325,000 ...................•... . .... ll:IeBa ---- i·• 6 --1888 .... ---- $5,000 ·-·-·· 1,000&c None. 4 g. 500 &o. 110,420,500 4g. 500 &c. 51,728,000 4 g. 1,000,000 5 g. 500 &c. 100 1,700,000 6 in '97. 4 i877 1,000 · 500,000 1877 1,000 4,250,000 7 c. 1880 750,000 500 6 1896 . .. 5.g. 1,000,000 1897 1,000 1,500,000 1896 5 100 1,232,200 6 in '97 issi 1,000 1,232,200 6 1,000 2,200,000 1.889 5 7 100 5,000,000 312 in' i897 ---··· 5,000,000 5 cur. ........ ...... 2,180,800 ·--- -.... ...... 3,099,200 1 in '97 1,238,000 5 g. 1,000 1895 100 1,797,500 2in'97 ·--1.000 325,000 1887 0 1895 1895 1895 1892 i:ooo BoNDS.-The new General Mortgage (A.bstract V. 62, p. 731-739) is made to the Union Trust Co. of New York as trustee, and gives a lien, -either by direc~ mortgage or by collateral trust, on the entire system of 6,935 miles of railroad, together with all the equipment and terminals owned by the company, and future acquisitions, subject only to the $8,605,000 of guarantee fund notes secured by mortgage on the line from Atchison to the western boundary of Kansas, and subJeot to liens on oertain equipment for about $1,000,000, to $1,500,000 of Chica.go & ot. Louis RR. Co. bonds (secured by lien on about 60 miles in Illinois), and to the remaining outstanding bonds of certain <,o,ntrolled companies, amounting in the aggregate to about $696,550. The General Mortgage oan never in the aggregate exceed $165,490,500. Of this amount, $96,990,500 was issued in the reorganization .and the remainder has been, or may be, issued as follows: a. To retue guarantee fund notes and oar trusts at not exceeding $1,250 for each $1,000 of old bonds . . . . . . . 15,500,000 b. Non-assenting bonds from reorganization of 1889 ($1,560,950 since reduced to $693,250).............. 1,500,000 c. Chicago & St. Louis 1st mortgage 6s.... . .............. 1,500,000 For improv'ts, terminals, second traok, equip't, etc., under carefully guarded restrictions at not exceeding $3,000,000 yearly, of which not over $750,000 for extensions.. 30,'000,000 For acquisition of Atlantic & Paoiflo and other lines . . . . . . 20,000,000 (Of the above, $11,400,000 were issued in March and June, 1897, for ithe purchase and improvement of Western Div. of A. & P.) The prior lien bonds were authorized merely as a precautionary m easure, and there is no reason to believe that any of them will ever be 1ssued. Of the $17,000,000 authorized, $12,000,000, it was provided, should be issued only to replace a like amount of ex• fating prior securities which, by payment of the guarantee fund notes Oct. 1, 1898, will be reduced to $1,693,250; and $5,000,000 are re· served for improvements, and are to be used only in case general mort~age bonds (selling in 1898 at 90) cannot be sold for 80 per cent, and in no event after year 1900. The Adjustment M01·tgage (A.bstract V. 62, p. 739) is to the Central Trust Co. as trustee. Interest is payable only out of net earnings f or the fiscal year ending June 3v and the rate is to be determined on or before October 15 in each year ; interest is non•cwnulative 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 m3ijority vote of the adjustment bondholders. In• J erest-In Nov., 1897, paid 3 p. c. (V. 65, p. 462.) GENERAL FINANCES.-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 a.cquired t he lease of the Mojave Division, 240 miles (owned by Sou. Pacific) in exchange for Ion~ leases of the Sonora Ry. and New Mexico & Arizona RR. These acqmsitions, whioh give the Atchison an unbroken line under its own control from Ohioa~o to the Pacitlc, raised the company's .annual fixed interest charge only from $4,608,858 in year 18~6-97 to $5,024,505 for year 1897-9t:S. In December, 1897, a .syndicate was formed to acquire by exchange -0r purchase the outstanding guarantee fund notes ($8,605,000), thereby obviating the necessity of issuing prior lien bonds. The general mortgage bonds thus become a first mortgage on the main line, and are secured by practically all the stocks and bonds of the other lines in the system, constituting an aggregate of about 7,000 miles. LATEST EARNINGS.- 5 ( 1897 ... Gross, $16,816,651; net, $5,113,009 mos., July l to Nov. 30. 51896 ... Gross, 14,445,020; net, 4,372,695 Deducting taxes and rentale, balance for interest in 5 months -0f 1897 was $4,401,102, against $3,500,861. REPORT.-Annual meeting second Thur.iday in December. The re• port for the year 1896-7 was given at length in V. 65, p. 510, 517; see also editorial pa~e 494. Earnings on the old mileage basis were : Years ending June 301897. 1896. 1895. Miles of road operated........ 6,479 6,435 6,482 Gross earnmgs .....•.....•.... $30,6~1,230 $28,999,597 $28,532,983 Operating expenses .........• 22,867,189 22,071,275 22,317,355 Net earnings .............. $7,754,041 $6,928,322 $6,215,628 INC0111E .ACCOUNT 1896-7. N et ea~nings ............ $7,'.754,041 Taxes, rentals, etc ..... $1,947,237 Other mcome........... i54,499 Interestcharges ........ 4,608,858 I Netincome . ........... $8,008,540 Bal., surp., for year .. $1,452,445 Surplus for six months ~o June 3U, 1896........ ...... ...... .. 150,781 Total surplus June 30, 1897. ......... . ........... ~ ...... . $1,603,226 Div. on adjustment mortgage incomes (Nov. 1, 1897,) ....... 1,551,840 Balance....................... . . . ............................. $51,386 ,Ori new basi.s of mileage, including the At. & Pac. Western Division now the Santa Fe Pacific RR., and e.x cludingthe Sonora Ry. and New https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $8,605,000 6 g. M.&N. New York, 59 Cedar St. Nov. 1, 1898 693,250 Various. ...... .............. Various. i· A. & A. & Nov. J. & M.& A. & J. & A. & New York, 59 Cedar St. do do Paid 3 p.c. Nov. 1, 1897 New York and London. N. Y.Cent.Tr.Oo.,54 Wall do do do do do do Oct. 1, 1925 Oct. 1, 1995 July l, 1995 Jan.1 '99-1902 Sept. 6,'97, 3% Jan. 1, 1907 Jan. 1, 1907 Anr. 1, 1900 N.Y., Man. Co., 40 Wall. New York, if earned. Atlanta, Ga. J. . ·&:. J. J. & J. do do M.&N. Phila., Read. Ter. Bldg. M. & S. Baltimore. J. & D. Dec., '97, paid 212 p. o. Dec:-1," .i946 1946 Jan. 7, '98, 3% Co's option. May 1. 1919 Dec.1 '97,212% Irredeemable. J. 0. 0. 1 J. 8. 0. J. 0. ··&:n. ··- - · Text. Norfolk, Va. J. & J :-{. Y.,Mer. Tr.,&London. J_..&.. J . Balt.,Nl.F'rm'rs'&P.Bk -------- ~ept. 1, 97, 1% Jan. 1, 1950 Oct.15,'97, 1% Jllly 1, ll:H7 Mexico & Arizona RR., this being the basis for future comparisons. the earnings for the late fiscal year were, and fixed charges will be: Miles. Gross. G1·oss p. m. Int. chqrges. Ohgs.J2. m. 6,935 $33,633,640 $4,850 $5,024,505 lj:i724 OFFICERS.-Aldace F. Walker, Chairman of the Board; E. P. Ripley, President; Paul Morton, Third Vice·President; Victor Morawetz, Gen• eral Counsel; E. Wilder, Secretary and Treasurer. DmECTORS.-Edward J. Berwind, R. Somers Hayes, Ben1amin P. Cheney, Cyrus K. Holliday, H. Rieman Duval, Victor Morawetz, Thomas P. Fowler, George A. Niokerson, Edward N. Gibbs, Thomas A. Osborn, Charles S. Gleed, Edward P. Ripley, George G. Haven, William Rotch, Aldace F. Walker . OFFICE.-59 Cedar Street, New York. (V. 65, p. 1113; v. 66, p. 80.) A.tlantlc & Pacific RR.-RoAD-Western Division purchased by Atcltison and Central Division by St. Louis & San Francisco in 1897; both divisions after foreclosure sale. Income Bonds, Western Div.-J. S. Bache, H. W. Dodd, W. J. Quinlan Jr., Edwin Einstein and N. W. Jordan (depositaries, Manhattan Trust N. Y., and American L. & T. Co., Boston, represent a majority of incomes held by the public. (V. 64, p. 328,516, 950.) A.tlanta & Charlotte A.Ir Line Ry.-(See Map Southern Railway System.J-Owns Charlotte, N. C., to Atlanta, Ga., 269 miles. LEASED on March 26, 1881, to the Richmond & Danville (now Southern Railway) for 99 years, at a rental equal to the interest on debt and 5 per cent on stock; if gross earnings exceed $1,500.000, dividends to be 6 per cent; and if they exceed $2,500,000, 7 per cent. The operating contract of 1881 (made with Richmond & Danville) was assigned to and accepted by the Southern Railway Co. DIVIDENDS, { 1881 to 1889. 1890. 1891 to Sept., 1897, inclusive. Per cent- 5 5 yearly. 512 6 yearly (M. & ~.) EA.RNINGS.-January 1 to Sept. 30 (9 months), gross, $1,213,081 in 1897; $1,110,070 in 1896. Calendar Jear 1896, gross, lfl,598,047; in 1895, gross, $1,752,996. President, Charles 8. Fairchild, New York City. (V. 64, p. 232, 286.) Atlanta Knoxville & Northern Ry.-RO.AD-Ownsfrom Knox• ville, Tenn., to Marietta, Ga., 205 miles; and Murphy to Blue Ridge, 25 miles; total owned 230 miles; trackage, Western & Atlantic Rail• road, Marietta, Ga., to Atlanta, Ga., 20 miles. HISTORY.-Chartered Juue 4, 1896. A reorganization per plan in V. 62, p. 1040, or the Marietta & North Georgia, foreclosed Nov. 25, 1895. Capital stock, $3,000,000. First mortgap;e bonds for $500,000 in treasury June 30, 1897; llills payable, $47,969. EARNINGS.-New company took possession Nov. 1, 1896. 11 months 51897 ...........•...... Gross, $263,481; net, $65,325 Jan. 1 to Nov. 30. { 1896 ....... _.....•.... Gross, :Gf>9,273; net, 30,904 For 8 months ending June 30, 1897, gross, $171,121; net, $36,035, improvements and betterments, $75,914. m 1896 (same 8 months), gross, $197,586; net, $34,486. OFFICERS,-President, H. K. MoHarg, 40 Wall St., .N. Y.; Vice-Presi· dent, E. C."Spalding, Atlanta; Secretary and Treasurer, H. W. Oliver, Marietta, Ga.-V. 63, p. 30, 601, 837; V. 65, p. 69. Atlanta & West Point RK.-Atlanta, Ga., to West Pt., Ga., 86 m. DIVIDENDS begun in 1855 were for many years 8 per oent per annum• From July 1. 1884, to Jan., 1898, inclusive, 6 per oent yearly, J &J. EARNINGS.- 5 months, 51897..••.•.... Gross, $243,531; net, $106,616 July 1 to Nov. 30. l 1896..••...... Gross, 238,199; net, 97,093 ANNUAL REPORT.-Fiscal ye11,r ends June 30. Earnings have beenIn 1896·7, grosR, $554,446; net, $219,830; other income, $13,019 interest, $73,932; taxes, $18,707; dividends, $73,93~; "sundry ac• counts," $64,711; bal., surplus, for year, $1,567. In 1895-6, gross, $534,115; net, $213,456. (V. 63, p. 1158; V. 64, p. 516; V. 65, p. 1172.) Atlantic City Ry.-CamdentoAtlantio City,57m. (double traok); branches, 25 m. STOCK, common, $1,200,000; preferred, $1,000,000 (par, $50), of which $1,195,000 common and $998,550 preferred owned by Rearling Co. are in trust under its general mortgage of 1896. In year ending June 30, 1896, gross $889,752 ; net, $250,846; charges, $166,402; balance. surplus, $84,444. In 1894-95 gross, $842,364. A tlantlc Coast Line Co.-This company, organized May 29 1889, under the laws of Connecticut, owns a majority of the oapitai stock and a large amount of the bonds in a series of railroad com• vanies denominated for convenience the Atlantic Coast Line System. The system includes about 1,640 miles as folio ws. Consolidation of the South Carolina roads has been authorized-see V. 64, p. 887. Oompany-,TSee this Co. Miles. I OompanyMites. Riehm. Fredkb. & Potomac,r.. 86 I Northeastern, S. C. ,r ...•. . ...... 102 Wilmington & Weldon ,r .......• 510 Petersburg ,r ...................• 61 Wilmington Columbia & Aug. 1T242 Richmond & Pett1rsburg ,r ..... 28 Central South Carolina ,r...••.. 40 Wilmington & Newberne ,r ..... 88 Chas. & Westerp. Carolina .... ~342 Other lines .................•.... 50 Cheraw & Darlington ... .. ..... 110 Florence RR ............ . ....... 421 ,r See this company. Manchester&Augusta,r .....•• 171 'Purchased in D0c., 189'f-V. Norfolk & Carolina ,r .•••••••••• 110 66, p. 38. I I INVESTORS' SUPPLEMENT 19 [VeL, LXVI. Snbscrlbers vvtll cont'er a great Cavor by glTlng lmm.edlate notice or any f>rror dlseovered In the11e Table11, RAU.ROADS. . For explanation of column headings, &c., see notes on first page of tables. Atlantic & St. Lawrence-Stock,6%renta1Grand Tr'k .8..tlan.S. Ru,.tl: G.-lst M.g.,s.f.,$8,000p.m.,red.105 . INTEREST OR DIVIDENDS. Bonds-Prmcir Miles Date Size, or Am t lpal,WhenDue. of of Par Outst~~g Rate per When Where Payable, a.nd by Stocks-La.et Road. Bonds Value. Cent. Payable Whom. Dividend. 150 ---· i895 -5-3 ---85 i894 £&$100 $5,484,000 1,000 (1) 6 M. & S. London and Portland. Sept.,1897,399 5 g. J. &J.15 __________ Jan.15, 1945 1;022,900 -··5·· J. & J. Savannah, Ga. J an.5:;98:212% n400,000 5 g. J. & D. N.Y., lt> Broad St. Dec. 1, 1924 1,920,000 5 ~- J. & J. N. Y., Cent. Trust Co. July 1, 1941 225,000 212 to 312 J. & J. New York, Erie RR. J an. 1, '98, 3 ~ 1,535,000 10 F. & A.. . ......... A.ug.1, '97, 5ro332,000 6 cur. F. & A.. Phila.,F.Ins.Tr.&8.Dep. Jan. 1, 1910 358,000 ··-··. _. ··Jan. 1, '98, 3% n600,000 4 g, J. & J. Jan. 1, 1944 1,250,000 5 g, M. & fi. NewYork,29William St. Sept. 1, 1934 BaltimorecfLeh ,ghRy.-Mort.,$250,000.-.lUeBa ____ ____ -80,000 6 ::::: .......... Nov:i5: 1894 Baltimore & Ohio-Stock ____ __ ·-···-·······-···-· .... ··-100 25,000.000 .....• 1st and 2d pref. stock, cum., $3,000,000 is 1st pref . . . . 100 5,000,000 J, & J. Jan., '96, div. last paid. Jan. 2, '96, 3% ···6·g. J. & D. N. Y., Mere. Trust Co. June 1, 1899 Receivers' certs. (V. 62, p. 1039) g., red. June 1,'97 . .. . i896 l,O00&c 5,000,000 Do (V. 63, p. 97) red. after J·une 1. '97 . . . . 1896 1,000 932,000 5 J. & n. Balt., Maryland Tr. Co. Dec. 1, 1899 Do $680,000, red. after July, 1898.... . . . . 18n . .. . . . 680,000 5 g. J. & J. . . . . . . .. .. 1900 Do On P. & C., red. 1 year from date . ... . ... 1897 1,000 650,000 5 J. & J. Ba.It., Trust & Guar. J an. 1, 1900 Do car trusts B.& 0. Equip. Co. M.,g.,gu.p.&i.c• . ... 1896 1,000 3,400,000 6 g. J. & J N. Y., Mere. Tr. & Bost. July 1, '98-99 Do lease warrants B. & O. Equip. Co. (5 issues). . .. . 1897 ... . . . 2,345,550 5 Various . . .. ...... Part annually Do. certificates, secured on car floats ($56,000J .. _. 1897 .. .. .. 17,000 5 ..... 1900 Equip.lease war. A.k. &Chgo. Jc. (V. 64,p.3~8).. .... 1897 ...... 462,600 6 .. . .. ... ..... .. $11,565 qua'ly . oan due in 1880. extended, payable at will...... 380 1853 500 &o. 359,000 4 J. & J. Balt. Of., Central Bldg. A.twill. oan, 1853, extended in 1885, gold.............. 380 1853 500 &c. 1,660,500 4 g. A.. & 0. do do Oct. 1, 1935 .. ortgage 1872, sink. fund .£12,000 semi-annually 422 1872 .£100 9,301,512 6 g. M. & 8. London, Baring Bros. Mch. 1, 1902 6 g. M. & N. Lond.,J.S.Morgan&Co. May, 1910 Mortgage 1874, sink. fund £9,000 semi-annually. 422 1874 .£200 9,634,504 Bond to City Baltimore (payable$40,000 yearly). 380 1875 ...... 160,000 6 J. & J. Baltimore, Office. July, '98-1900 ConsolldatedM (for $29,600,000) g .. ltteBa .. c•&r 521 1887 1,000 11,988,000 5 g. F. & A.. N. Y., Union Trust Co. Feb. 1, 1988 Loan,1877(s.f.dr'nat100)(B.&O.&Ch.bds.col'l)c 263 1877 £200 6,690,048 5 g. J. & D. June, '97, pd. Oct. 1, '97 June 1, 1927 6 J, & J. Baltimore, B. & 0. RR. Mch. 1, 1902 N. w. Virginia RR. 1st M. (ext. in 1888) assum.c?. 104 { 1855 .$1,000 132,000 6 cur. A.. & O. .J.P.Morgan&Co.&Balt. A.pr. 1, UH9 B. & O. loan 1879 (Parkersb'g Br. collat., cur.) .. 5 1879 1,000 3,000,000 Mort. 011 Phila.Rr .. Balt. & Phila. hdA.aAcol ..... xc 108 18K:l .£200 11.616.000 419 I!. A.. & 0 . Oct.. 1897, int. deferred A.pr. 1, 1933 1!;:::::~::;~~i!~~~gi:%,r!~t~~<a~iiaiGa~ AugustaSo.-lstconsol.M.,go.,gu.,p.&i.end.Cxc A•stin cf Northwestern-lat mort.g.,gu.p & i.Ac*&r 103 1891 A1,on Geneseo ti: Mt. Morris RR.-Stock (see text) . . _ . . . . .. . . Bald Eagle Valtey-Stock, $2,000,0U0 .. __________ ... .... .... lst M. orig. $460,000 (s. f., drawn at 100) . .. FPxr 90 1880 BaltimorecfAnnap . ..S.L.-Stock, common . . ..... ______ ____ . __ . 1st mort. (4 p. c. after Jan. 1, 1897) gold .. .. SBa 28 1894 Baltimore Ohesapeake ti: Atlan.-lst mort., gold Ac* 89 1894 -$iOo 1,000 1,000 100 50 1,000 100 .. _. _1,000 STOCK-In May, 1897, $6,000,000 of certificates of indebtedness, entitled to 5 per cent interest if earned,were created, of wbich$5,000,000 were issued to reduce capital stock from $10,000,000 to $5,000,000. .A.s to the rights of these certificates, see wording in editorial, Oc~ober. 18\17,_S~PLEMENT, ~age 3.-v. 65, p. 564. _On Dec. 1, 1897, paid 212 p. c. dividend on cert10cate~; checks are mailed. DIVIDENDS-The first divinend on common was 11il p. c. declared payable oct.10, 1895; in 1896, 3; in 1897, April, 112 p. c.; Sept .• 2 pc. A.u ,!usta :firsts,p.& i. GUARA"'TY.-Guaranti·es$960,000Manchester& ., SECURITIES OWNED.-May 28, 1897, tocks $7,403,032, bonds $2,206,000; other bonds, $518,441. (See list V. 65, p. 564.) EARNINGS.-For year 1896, gross earnings of the company were $562,647; net, $550,287. In 1895, gro s, $417,408; net, $405,631.V. 61, p. 1065; V. 64, p. 232,663,887,999; V. 65, p. 564; V. 66, p. 38. Atlantic & Danville Hy.-Completed Feb., 1890, West Norfolk, to Danville, Va., 205 miles, three branches, 22 miles, and James River Junction to Claremont (3 feet gauge) 51 miles; total, 278 miles. HISTORY.-Successor to Railroad. Foreclosed A.pril 3, 1894, bondholders paying an assessment of 25 p. c. and receiving 25 p. c. in new bonds therefor. See plan V. 58, p. 815. STOCK.-Common, $2,500,000; non-cum. 5 per cent prer. $3,200,000, Issued to June 30, 1896, common, $2,180,800; preferred, $3,099,200. DIVIDE:NDS.-On preferred first dividend 1 p. c. paid Sept. 1, 1897. BONDS.-The bonds are subject to call at par on 6 months' notice; they have full foreclosure rif.;hts afte1• Jan. 1, 1898. See application for'listing on N.Y. Stock Exchange in V. 62, p.1141. LATEST EARNINGS.-5 mos., ~ 1897 .. Gross, $230,455; net, $6~,077 July 1 to Nov. 30. 51896 .. Gross, 231,495; net, 5i:S,408 ANNUAL REPORT.-Year to Ju11e 30. Report for 1896-97 was in V. 66 p. 79, showing, gross, $543,770; net, $138,912; intere t charge"', $6i,900; balance, for year to impro,ement account, $77,012. In 1895-96 gross, ;t;569,018; net, $1::HJ,894; interest, $61,900; balance, $77,994.-V. 65, p. 326; V. 66, p. '79. Atlantic & North Carolina HH,-Morehead City to Goldsboro, N. c., 95 m. State of No. Car. owns $1,266,500 of the $1,797,500 tock DIVIDENDS.- i 1892. 1893. 1894. 1895. 1896. 1897 Per cent. 5 2 2 2 0 2 2 EARNINGS.-For year ending June 30, 1896, gross, $140,657; net, $58,170; charges. $33,769; balanc~, surplus, for year, $24,401. In 1894-95, gross, $35,886; net, $52,133.-V. 61, p. 470. A tlantlc /fl s,. LaW"rence HH.-Owns from Portland, Me., to Island Pond, Vt. (and branch), 165 miles; leases, 7 miles; total, 172 miles. Connects with Grand Trunk of Canada, to which leased for 999 years, Augu st 5, 1858, at a rental equal to bond interest and 6 per cent on stock. The funded debt, $3,000,000, the Grand Trunk holds and has pledged for its debenture stock. The stock of $5,484,000 is mostly.£, with dividends payable in London. EARNING .-Year ending June 30, 1896, gross, $993,812; net, $169,258; interest, $206,280; A tlantlc Suwannee River & Gulf Hy.-Road completed (June 30, 1896), from Starke to Alachua, Fla., 27 miles. Projected from Starke to Suwannee River, 55 miles. Capital stock (authorized $600 000) issued $250,000. Road being built by Atlantic Lumber Co. and charter provides for land grant of 10,000 acres per mile. General Manager, Arthur Meigs, Jacksonville, Fla. Atlantic Valdosta & Wel!!tern Hy.-Fort Moniac to Cranford, Fla (on Fla. Cen. & Pen. Ry.), 21 miles, and from Maylow, Ga., to Suwanee River, 26 miles; connecting link of 24 _miles und_er construction in January, 1898. Road runs through a timber section and makes a short route from Valdosta (on Ga. So. & Fla. Ry.) to Jacksonville Fla. Capital stock, $1,000,000. Mortgage is for $2,500,000. G. s.' Baxter & Co., 18 Wall 8t., N. Y., are building the line. President, Walter Ferguson.-V. 65, p. 1070; V. 66, p. 183. Au~usta & Savannah HH.-Mlllen to Augusta., Ga., 53 miles. In 1895, re-leased to the Central of Georgia at 5 p. c. on stock. EARNINGS.-For year ending June 30, 1896, gross, $190,668; net, $68,618. In 1894-95, grosl', $160,687: net, 42,202.-(V.61, p. 239.) Aucrusta Southern HR.-Owns from Augusta. to Sandersville, Ga 80 m. (standard gauge), and Sandersville & Tennille RR., 4 miles.) Le~sed in March, 1897, in perpetuity to the South Carolina & Georgia, which guarantees the bonds, principal and interest, by endorsement. (V. 64, 11. 465.) Common stock, $400,000; preferred, $350,000; par, $100. There were, Oct., 1896, car trusts, $32,000. For year 1895-96, gross, $79,358; net, $30,289. -(V. 64. p, 468.l Aul!itin & Northwestern RH.-Owns from Austin to Llano, Texas, 99 m.; branch, Fairl~nd to Marble Falls, e~c., 8 miles. Stock, $1 016 000; par $100, of which the Southern Pacltic Company owns $1'008'000. The land grant was 600,000 acres. The 5 per ot,Ots a.re for $20,000 per mi)e, and have principal and interest guaranteed by the Southern Pamflc Company. EARNHWS.-For year ending June 30, 1897, grosl'l, $191,255; net, $3Fl 67!1. fo 1895-6 gro s, $240,934 ; net, $7~.557, against $98,136 in 1894-95; other income, $9,356; interest, taxes, etc., $104,118; balance, detlcit, $16,205. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IMorris Avon Geneseo & JUt. lUorrls RH.-(See Map ErieRR.J-Mt· to Avon, N. Y., 18 miles. Leased to Erie RR. at rental of 212 per cent on stock for 4 years from Jan. 1, 1896, 3 per cent for 1 year more and 312 p. c. thereafter.-(See V. 63, p. 512; V . 62, p. 318, 589.) Bald Eagle Valley HH,-Owns fron: Vail Station, Pa., to Lockha.ven, Pa., 51 miles; branches to Sugar Camp, etc., 39 mileA. Leased to Penn. RR. Co. tor 99 years trom Dec. 7, 1864. Rental, 40 per cen~ of gross earnings. Rental _1896, $l75,617; other income, $9,401; mt., taxes, etc., $40,774; diVIdends (10 p. c.), $140,625; bal., sur. for year, $3,619. Rental in 1895, $153,399. Pennsylvania Rlt. Jan. 1, 1897, owned $706,250 stock. Dividends are 5 p. c. semi-ann. Baltllllore & Annapolis Short Line HH.-Owns road from Clitfords to Annapolis, Md., 23 miles. In 1897 acquired control of Annapolis Washington & Baltimore RR. Co. Common stock issued, $358,000; there is also $500,000 of preferred stock authorized. Dividends-In 1898, Jan., 3 p. c. For year ending Junfl 30, 1896, gros s earnings, $86,456; net, $2!\025. In 1894-5, gross, $76,785. Baltbnore Chel!lapeake & Atlantic Hy.-Owns Claiborne to Ocean City, Md., 87 miles; branch, 1 mile; total, 88 miles; from Claiborne to Baltimore, 42 miles, transfer is made by water. HISTORY.A. reorganization in 1894 of the Baltimore & Eastern Shore, which was sold A.ug, 29, 1894 (V. 59, p. 371), the Maryland Steamboat Co., Eastern Shore 8. B. Co. and Choptank 8. B. Co. Fifteen boats are owned. STOCKS.-Pref., $1,500,000 5 p. c. cumulative; common, $1,000,000. ANNUAL REP0RT.-Report for year ending August 31, 1896, was given in V. 64, p. 284, showing gross, $4.97,703; net, $88,599; charges, $62,500; bal., surp., $26,099. In 1894-95 gross, $514,108; net, $129,806. President (May, 1897), Johns. Wilson.-(V. 64, p. 284, 842.) BaltlDlor~ & Lehl~h Hallway.-Narr,,w Gaug11.-Baltimore to Cardiff, Md., 4.3 miles. Stock, $850,000; par, $100; issued, $843,500. EARNINGS-Year Pnding June 30, 1896, gross, $131.479; net $30,758: interest on debt, $5,854; improvements, $1,934; reduction of mortgage, $13,25!; balance, surplus, $9,716.-V. 63, p. 227. Baltllllore & Ohio HK.-( SeeMapJ.-ROAD.-Operates fromBalti• more to Philadelphia and Baltimore to Chicago, and has, via the Balti more & Ohio 8. W., a direct route to Cincinnati and St. Louis, the total mileage leased, owned and operatea (excluding the Balt. & Ohio Soutb western) being in July, 1897, 2,046 miles, of which 774 miles are west and 1,272 miles east of the Ohio River. The "Blue Line" (see Central RR. of N J.) enables it to reach New York, near which, on Staten Island, it has freight terminals. See 8. I. Rapid Transit. Also operates the Valley RR. of Virginia, 62 miles, controls Cleveland Terminal & Valley Ry. and is interested in the West Va. & Pittsburg (see that co.). Baltimore Belt line (tunnel line in Baltimore) was opened May 1, 1895. (V. 60, p. 258, 794.) HISTOR}"_, LEASES, &c.--Chartered in Maryland Feb. 28, 1827, and in Virginia march 8, 1827. First section opened May 24, 1830. The Telegraph Co's. stock was sold to Western Union for $5,000,000 Western Union stock at par and s rental of $60,000 per year for fifty years. On June 30, 1897, $4,090,000 of the Western Union stock was still owned. A contract or Lease made with the Chic. & N. Pac. (now Chic. Terminal Transpor. Ry.) in Dec., 1891, gives use of terminals in Chica~o. In November, 1895, an important change took place in the directory, the following representatives of New York and London banking houses succeeding Baltimore men: Louis Fitzgerald, President Mercantile Trust Co., N. Y.; Eugene Delano of Brown Brothers; William A.. Read of Vermilye & Co., and Howland Davis of Blake Boissevain & Co.:of London. A.s to status in November, 1897, see V. 65, p. 868. RECEIVERSHIP.-Feb. 29, 1896, President, John K. Cowen and VicePresident Oscar G. Murray were made receivers.-(V. 62, p. 455.) REORGANIZATION.-In J anuary, 1898, reorganization plans were being matured. With the proceeds of receivers' certificates the rolling stock has been increased and various improvements have been made. New York Reorgan1,zation Oommittee.-Louis Fitzgerald (Chairman), Eugene Delano, Edward R. Bacon, Howland Davis, W. A.. Read, August Belmont, Henry Budge; Sec'y, H. C. Demin<7.-(V. 62, p. 455, 777,) Baltimore Oommittee.-A.lexander Shaw, dhairman; C. Morton Stewart, John Gill, J. G. Harvey, T. Edward Hambleton, James L. McLane, John M. Nelson, Secretary, Baltimore.-(V. 62, p. 547, 777.) Consol. 5s of1897.-J. P. :Morgan & Co. , Brown Bros. & Co. and Baring, Magoun & Co. request deposits for mutual protection with J.P. Morgan & Co., N. Y. More than a majority h ave been deposited.-V. 65, p. 868; V. 66, p. 13i. B. & O ti: Ohicago.:::..c. H. Ooster, J. W. Brow n and James Bond (substituted trustees under the mortgage of 1877) in July, 1897, obtained permission to sue for separate receivers for tht, B. & O. & C., but on Oct. 1, 1897t...the overdue interest was paid.-see V. 65, p . 150. Te1•'Tfm,al .lionds of z8q4.-See V. 62, p. 588. Loan of z885.-Speyer & Co., in New York, ai;td Speyer Brothers. in London, receive deposits. A. majority has been deposited. (See V. 64, p. 233, 1087; v. 65, p. 194, 234.) Philadelphia B1·anch 412.~ of 1881.-Brown, Shipley & Co. , London, request deposits. (V. 65, p. 777.) Baltimore Belt First 5s.- Brown Bros. & Co., N. Y., and Alexa ndPr Brown & Sons, Baltimore, and Brown, Ship .ey & Co., London. re ceive deposit. V. 65, p. 868. November, 1897, coupon was not paid.-V. 65,p. 8~3 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE BALTIMORE & OHIO RAILROAD SYSTEM. SUPPLEMENT. 14 LVOL, LXVI. · Sub8crlbers will confer a great f'avor by giving hntnedlate notice of' any error discovered ln these Table•. RAILROADS. Bonds-PrinctINTEREST OR DIVIDENDS. -----------------1pal,WhenDue. .A.mount When Where Payable, and by Stocks-Last Par Outstanding Rate of of Dividend. Whom. Per cent. Payable Road. Bonds Value. - - - - - - ----1:------1----- ----1-----------1-----·- ....- - - - - - - - - - - - - - - - - - - - 1 Miles Date Size, or For explanation of column headings, &c., see notes on first page of tables. Baltimore,~ Ohio-( OoncludedJ- 12 1873 $1,000 $540,000 Waeh C.& P.L. (Alex.Br.) 1st M.g.s.f.$36,000 p.an. ~ g. 1,419,000 1,000 Pittsb. &Connellsville 1st mort.,7s ........... _.. 147 1868 1,000 2,581,000 4 g. do Extended in 1896 in gold. V. 62, p. 1178. ··- .. 1868 1,000 See above. 5 1897 B.& O. receiv's ctfs. on P. & C., red. in 1 year .. £200 6 g. 6,648,224 Consol. M .. g.,:Bi_& 1. rear. (B. f. £7,200 pe.,. yr.). iii 1876 5 g. B. &0. l'n,'85,~.( tts. Conn.bds.as col.1Unc"on· 147 1885 $1,000 10,000,000 1,000 8,500,000 412 g. lat Termina mortgage, gold (see text) ......• c* .... 1894 1,000 400,000 5 Ei>nip. trust,Ser.A,($100,000ld. yearly .A.pr. ll .... 1889 1,000 5 800,000 o. do. Ser.B.,$200,000 uey'rlyNov.1.c* .... 1890 n250,000 1,000 5 g. Car trust (extended in 1897 for 3 years)Me.Ba. ·--· 1887 .. .. ... 237,197 . ..... B.& O. Eq. Co. car trusts. (See also V. 63, p. 152) .... 598,518 ...... ...... . Wheelage car trusts (June 30, 1897) .............. LEASED LINES. 1,000 5 g. 4.,500,000 11 1886 Bchuyl. R. East Bide RR. 1st M., g. 1guar.) .•...... 350,000 1,000 5 g. Ba.It. & N. Y. RR., lat M., gold, f.1'iar .•... ..... c&r 512 1889 1,500,000 1,000 5 g. 73 1890 .Akron & Chic. June. 1st m., gol , int. gu ....... c* •7 1890 6,000,000 1,000 5 g. Balt. B. lstM.for $6,000,000,g.,int.gu.1'1e.Ba,c* 100 10,000.000 .... BaZttmo-re &; Ohio Southwestern-Common stock .... 100 20,000,000 Pref. stock, 7 per cent, non•cum,, red. at par ..••. ·-···333,000 1,000 7 Cincinnati & Baltimore, lat mortgage ..•..... .. . . ···5 isi39 1,000 10,667,000 412 g. B. & O. S.W. .R.R.,lstM., gold (guar. p. &i., end.).c* 281 1889 a6,385,000 1,000 4 g. 1868 393 Un.c' '97. in Ohio & Miss., lat cons., ext. in gold 1,000 b2,952,000 7 2d oonsol. mort. (sink. fund), no drawing .... c* 393 1871 cl.993,000 1,000 7 Spring.Div. (Sp.& Ill. S. E.) lat M. ($3,000,000)c• 222 1874 d319,000 1,000 5 First general mortf«age .•...•.................. c* .... 1883 101,000 6 '87-'91 1,000 Equip. Trust, 3 seres, drawn yearly atlOO ... c* 41g g. u. (end.) .c*&r 909 1893 l,OOO&c 10,35:">,000 B. & O. s. W . .RX-, lat con. M., 1,000 18,750,000 5 Income mort., & B (.A., $8,75 ,0 0) ..... .. . c&r* 909 1893 1,200,000 1,000 5 g. 1892 13. & O. 8. W, Term. Co. lat M. rid, guar., 4 g. 127,000 1,000 Marietta Ry. 1st M., g., $175,0 0, gu .• p. & . end. . ... 1896 ...... 675,000 ...... Syndicate collatnal trust temporary loan........ . . . . 1897 NOTE.-In addition there are held under co n. 412 % M. o f a $14 5,000, of b $ 261,000, ---- ---·· ---· --- ---- ----·- 5., 5 J. & D. J. & J. J. & J. J. & J. J. & J. F. & .A.. J. & D. .A.. & o. M.&N. J. & J. f"'·••1.... COUPONS.-The dates when coupon have been paid and the first coupon defaulted, where more than one default exists, are as follows: Payabll' at, if paid. P aid. Cnupan. Loans. ~o~~of.1:\?o~8:'~}01 ~~~: : •• : ciu~~~~t7 Wb~~ due ~~elo~~ft~IPTrust Co. Loan 1877, Chicago Div... June, 1897 Oct. 1, 1897 London,J.S.Morgan&Co. 5N Y JP Mor$!an& Co P arkersburg Br. l,R79 · · · · · · 0 ct., 189 7 0 ct. 1• 189 7 1 . anci' B altimore. Deferred See V. 65, p. 619, 777. Oct., 1g97 ... Phila. branch 18~3 . Pitts. & Connells. 1st 7s... Jan., 1898 Purchased N. Y.. vermllye & co. 0 i~:v-:1,t~ti im::t~g~:n::i~~~~~-i: Aug. 1897 Dec., '95, coup. last pd. June 1, 1913 J an.,'98, coup. purch'd. July 1, 1898 N. Y., Vermilye & Co. July l, 1946 Jan. 1, 1900 Jan., '97, coup, last pd. Jan. 1, 1926 .A.ug.,'97, coup. purch'd Feb. 1, 1925 June, '97, pd. Oct. 1,'97 June 1, 1934 Phila., Fin'ce Co. of Pa. Yearly in .A.pr. Phila., Fin'ce Co. of Pa. Nv.1,' 98·1900 Baltimore. 1900 ... ----.......... J. & D. Phila., Solicitors' C'o. M.&N. N.Y., J.P. Morgan & Co. M.&N. Nov., '97, coup.purch'd M.&N. Nov., '97, coup. not pd. Owned by Balt. & Ohio. ..&..J. N. Y., Farmers' L. & Tr. J. do do J. & J. J. & J. do do .A.. & o. do do M.&N. do do J. & D. do do Various N.Y.BaringMagoun&Co J. & J. New York. See text See text. M.&N. N. Y., Farmers' L. & Tr. M.&N. do do . --.. --· ········ Dec. May Nov. Nov. 1, 1, 1, 1, 1935 1939 1930 1890 .... ---· ·1; ·i9oo Jan: Jan. 1, 1990 Jan. 1, 1947 .A.pr. 1, 1911 Nov. 1, 1905 June l, 1932 lOJ· c. yearly. J y 1, 1993 July 1, 2043 May 1, 1942 Nov. 1, 1996 or"c$.i6, ooo, or"«i.·$·:fBs1,ooo. . .... --- EARNINGS.-5 mos., 51897 .... Gross, $11,626,964; net, $3,198,159 i 1896 .... Gross, 11,335,547; net, 2,834,430 July 1 to Nov. 30. ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting at Baltimore on the third Monday of November. Report for 1896·7. was given in full in V. 65, p. 973,978. See also editorial, p. 953. 1895. 1896. 1897. Year ending June 30$25 582 123 $23 944 782 $22 817 182 . G o 88 ' ' ' ' ~rrungs. ••· · · • · ••• • • • · • • · 20'012'094 or 17,583,420 15,~01,043 , , pera g expenses.··········· $7,016,139 Net earnings •.••..••........ $5,570,029 . $6,361,362 do do fWo't \!~d 1,627,595 1,068,924 bPurchas·d New York,"Speyer & Co. Add Income from other sources 1,040,716 ----- ----- ---Junel,1897 Oct. 1, 1897 N.Y.,BrownBros.&Lon. $8,643,734 $7,430,286 Totalnetincome ...•.•....•• $6, 6 10,74 5 [b1;\~f~rfio. urc~l;~~97 J!~er.1l9~ 174,410 99,926 16,755 Nov.1,1897 Nov.1,1897 N.Y.,J.P.Morgan&Co. Lessnetearn.Wash'nBranch. 8 7 771 111 7 6 ' ' ' ·stooir: f;\~3•sc::;.~i aii<i" ~~laaigd by Vermliye & Cv. ~t 770,164 694,835 i:fa·,isi c Not paid N. Y.,BrownBros.&'.Balt. Payments to retire bonds....... Bal to. Belt 1st M. 1890..... Nov., 1897 B. & O. Ioan of 18b5 g. 5.. B. &O.Term.~.1894 ... . E~~~JiYfi~;.1:fOisi.5ii. Baltimore&N.Y.lst5s.• ttU:: 'ig~:i&i 2if p°t: t1k~~~t8:,:}J~ ini g~<;:, \ii~ av. 65, p. 234,276. b V. 65, P. 194,234. c V. 65, p. 868. CAPITAL STOCK.-Suit to compel receivers to pay dividends on pre• ferred was dismissed in July, 1897.-see V. 65, p. 194; V. 62, p. 1086. In 1891 common stock was increased from $14,792,566 to $25,000,000 to pay a 20 per cent stock dividend, purchase Pitts. & W., etc. DIVIDENDS since '85 •• S'86. '8'7. '88·'90. 91. '92. '98. '94 None 412 since. None. 20stk 3¾ 5 4 i 8 on common..... RECEIVERS' OBLIGATIONS.-These have been authorized as follows: Leaving a. balance of••.... . df.$1,316,251 df.$717,329 ,--------1897.-----......._ Year end. June 30- Gross. Net. Loss toB.<f:O. i&i:gg $639,517 1896. Gross. $93,392 $11,249,986 Ma.inStem,&c ..••.•.•.. $12,870,978 $3,583,611 742,2L7 134,726 69,605 753,698 ParkersburgBranch.... 623,406 1,067 16,755 643,682 WashingtOn Branch... •· 1~0,420 1,679,134 586,676 PhiladelphiaDivision... 1,841,794 504 , 886 795 ,89 6 3,l05,872 Pittsburg Division .••..• 2 •972 •262 672,635 40,618 644,208 de/.35,827 Amount. Wheeling & Pitts. Div.. Refe;rmce. Purpose. Loan376,559 71,642 61,004 360,885 V ~2 1 039 ,. 5 ooo 000 Col. & Cin. Mid. Div..... e e t8 t Im May, 1896 (B· & o · RR) 1,199,105 381,961 90,608 1,226,528 Division... Ohio <Jentra.l • • "' • p. · · • e c. n m prov · · · · · · · · · · · Nov. 20, 1896 lMd. Constr'n Co.) Baltimore Belt RR. V. 63. p. 967 A956.000 1 008 ~~~1~i~~%.~tg:•fi~~~~I_I~:~ lmpr3:;ggais·.& C. V.~~:~·-~: 2,862,625 110,441 680,000 L,"hicago Division •••..•.• 2,8~0,803 t599,201 V. fi5, p. 110 New rails. . . .. do July. 1~97 444,459 31,126 79,541 444,435 V. 62, p. S-4.8 C3,400,000 Akron & Chic. June.Div. Rolllni? stock. May, 1896 (B. & O. Equip. Co .) . .. V. 64. o. 328 D462,600 do Feb., 1897 (Ak. & Cb. Junct'n).. 9A $23 904 993 $1 029 570 $5 122 582 $25 Total 2,345,550 150 p 65 V engines. and Cars '1J 7, le-tse warrants l Aug• & July , -A,782 , , , , , , ··•••••• ········• · • · B. & O. Equip.Co. (5 issues) .. 5 OFFICERS-President, John K. Cowen; Secretary, C. W. Woolford; -th{ &.!tJ!J~fa~fo~l:~i~t:!~!gfs~he Maryland Construction Co., and also on Treasurer, W. H. Ijams.-V. 65, p. 1072, 1218; v. 66, p. 38, 132. Bagg:ggg ~~-~:::i~·ti:t~~ta:::: a!ct ~~~1~egf 1it~ ~i~b~~g iit~;~Sfs;Me~aii ~-e!!"ctft ~n1{~ J>rg~eff;~ Pittsburg & Connellsville road itself, subject to the firsts of 1868 but a~ead of 8 th ~ gi;st~~~ft~~'fti~~~:s~ea ii·B:&/i:ii ~~ment Co .• butguaranteed,prlnci!!_al and int., by the receivers and tbe B. & ~- RR. v. 62, p. 948; v. 6~, p. 152. D Akron & Chicago .Junction lease warrants for any deflcieny to meet which the receivers are liable. BONDS.-The various loans of the B. & O. 8ystem, including the amount of eacn outstanding, the road, eto., covered by the mortgage, and the earning power of a number of the lines, were given in an arti· cle on page 3 of the lNvESTORS' SUPPLEMENT for April, 1896. In addi· tion to bonds given above as outstanding, the B. & O. sinking funds held June 30, 1895, consols of 1887 to the amount of $4,865,000 (interest on which is paid in consols themselves) and other first-class Interest-bearing bonds to amount of $3,366,196. v. 61. p. 928. Consolidated mort. o/1887 abstract V.46, p. 804, and see V.65, p. 868. The terminal mortgage abstract in V. 59, p. 71. 72. Application for foreclosure of B. & O. loan of 1885 secured by Pitts . & Connellsville bonds and of the P. & C. 2d con ol. mortgage deposited as such security was made in September.-V. 65, p. 515. GUARANTIEB.-In addition to the bonds given in the table, the com t • b ds S pa.ny guarantees th e f O11owmg on · ee 8 atement for this co. ,r B. & O. Southwestern 1 st 412s. ,r Columbus & Cin. Midland 412s. ,r 3 p. c. on pref. do do 1st consols. do do ,r ,i Monongahela River 5s. Cleve. Term. & Valley Ry. ,r Pitts. Clev.&Tol.,astoint., lst 6 s.,r Sta.ten Island R. T. 2 d 58 . ,r West Va. &Pitts .. astoint.,lst5s . .i Valley of Va., d>A68,000 lat 6s. I I 'l'"'"' 11 GENERAL FINANCES, &c.-The fl.oatin~ debt of June 30, 1897, was as follows: Bills payable and loans, $5,471,424; Baltimore Belt RH.. notes, $1,290,000; pay•rolls for June, $941,019; accounts payable by re• ceivers, $1,771,993; due individuals and companies, $1,083,134; uue other roads, $1,375,921; accrued interest, rentals and taxes, $3,056,· 405, &c., &c. For offsets see CHRO:NICLE v. 65, p. 9111. There are also contingent liabilities consisting of endorsements of the company for the Pittsburg & Western and its affiliated lines to the amount of $2,226,000; for the Staten Isla.nd Rapid Transit, $50,000, and for the matter of the Fairport Docks, $60,000. The report of expert accountant Little dated July 11, 1896, was quoted in v. 63, p. 1009, 1062. Editorials in the CHRONICLE on pages 1040, 1092 and 1135 of Volume 63, give reasons for believing that Mr. Little was much too drastic in bis treatment, and that the real profits were greater than he states. On the other hand, when considering the prop• erty's condition, it should be remembered that tho company had failed to apply sufficient of its earnings to repairs of equip• ment; also that the fixed charo-es for the year ending June 30, 1896, increased $443,211 ($300,000 for interest on Baltimore Belt bonds) and in the year 1896·97 incr,·ased $568,256, of which $500,· 250 for interest on receiver's certificate and equipment obligatiors; while additional amounts of the last named have since been issued. For Receivers' Oertijicates see "Receivers' Obligatiom1" above. Re· :ports of Patterson & Corwin was mentioned in V. 64, p. 99!l j https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis r~t:i~i def.~i:~i~ ii:iii ~tgJg~ f!]JI~:~~ Ohio Sout}l're!'.s,te1k~!Y~~~ap of Batt. cf~~~ Cincinnati to East St. Louis •••• 339 Blanchester to Hillsboro ..•••.• 22 No. Vernon to Jeffersonville . 53 New Albany & Eastern......... 8 Beardstown to Shawneetown •• 2281 Cincinnati & Bedford .•...•.•.. 11 Cincinnati to Belpre. .. ....•.... 193 Trackage in Cincinnati......... 1 Marietta to Belpre....... . . • • . • . 11 Total operated June 30,1897.921 Portsmouth to Hamden ......•. 55 Second track, 15 miles ; sidings, 285 miles; trackage, 1 mile. HISTORY, ETc.-This railway co. was a consolidation on Nov. 1, 1893, of the B. & 0. s. w . .R.R. and the Ohio & Miss. per plan in v. 56, p. 504. cAPITAL sTOCH:,-The $10, 000 ,000 0 <:>mmon stock is held by the 13 · & O. a nd carries control. See ,vordrng of pref. cert. in editorial Oct. l 8 97, SUPPLEMENT, p. 3. BONDS.-,\ b11tra@t of.first mortgage ot 1889 (guaranteed by B. & O.) w~s in V. 51, P: 245. Of the $37,500,000 first CO'f!,SOlB., also guaranteed prmcipal and mt. by B. & 0., $11~000,000 are issuable only to retire the B. & 0. S. W. firsts; $1,50u,OOO to retire a like amount of B, ~ 0. S. W. Terminal firsts; $20,500,000 were to be issued in exchange for Ohio & Mississippi bonds of the several issues and the preferred ~to~k ;_ and $4,500,000 will be available for improving the Ohio & Miss1ss1pp1 and for other purposes. The total may be increased by issue Of foiir per cent bonds for terminals, double tracks, equipment, etc. ld b d 8 t 5 t Th · (Farmers' Loan & T. Co., on e income mor gage per cen go trustee) are non·oumulative. Series .A. ($8,750,000) are prior to B ($10,000,000) for p. & i. To January, 1898, $8,651,000 series .A. had been li ted on N. Y. Stock Exchange; series B listed, $9,655,000. Interest dividend of 214 per cent was paid Nov. 1, 1895 on ".A. incomes; this is the first p ayment since the consolidation. $ $2 88 2 53 } 1897 5 E 931,931 , 5; net, , ··•·· .. gross, ARNINGS.- mos., 1896·······gross, 2 ,6 2 5,73 2 ; net, 837,005 Jwy 1 to Nov. 3 o. GENERAL FINANCES.-Though controlled by the B. & o., which went into receivers' hands Feb. 2g, 1896, the B. & 0. S. W. was not af fected by that receivership. v. 62, p. 455. In February, 1896, $700,: 000 consol. 412s were issued for improvements, etc. The O. &M. first conso1s tis and 7B due Jan. 1, 1898 ($6,468,000), were extended for 50 years at 4 per cent, effecting a saving of $192,500 per annum. (See V. 65. p. 1218, and V. 66, p. 80.) On June 30, 1897, the net un• funded debt was $1,019,502, including the "syndicate loan" of $675. 000, equipment notes $125,288, and accrued taxes and interest $361' 354, and bills payable of $140,000. The ''syndicate loan" was ob· tained q_n consol. 4~s in treasury and is to be paid off when the mar· ketfor tlle consols improves (they were quoted at 60 in June, 1897).V, 65, P• 1026. ANNUAL REPORT.-The fiscal year ends June 30. Report for 1896·7 was given at length in V. 65 p. 1020, 1026. Balance lnte1·est, Other .Net (:}ross 1 car end. taxes, <le. IJ'lit•.orde/ income, earnings. J une 30. earnings. $2,154,292 df.$269,346 $2,250 $1,882,696 1897 •••. $6, 110,000 2,115,779 sur.63,889 9,598 2,170,070 1 ·il:16 •••. 6,408,395 2,096,125 sur-212 056 2,250 2,305,931 1 ~95 •••• 6,323,036 JANUARY, 1898,] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND BONDS. 13 C, C 0 0 r OF THE MA BANGOR & AROOSTOOK RAILROAD .A.ND CONNECTIONS. INVESTORS' SUPPLEMEN1~ 16 ~VoL. LXVI Subl!lcrlbers "'1.ll conf'er a great f'avor by giving Im.mediate notice oC any error dl•covered In these Tablel!I. Bond.t-Pr1nrlRAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Amount pa.I.When Due. of of Par or explanation of column headings, &c., see notes Outstanding Rate r,er When Where payable, and by Stocks-Last F on first page of tables. Road. Bonds Va.lue. cen . Payable Whom. Dividend. B alt.fl Potomao---lstM. (tun.) gold,s. f., not dr'nx.o* 1st MU road, guar., gold, sink.fd., not drawn .. xo• Conao dated mortgage for $10,000,000, gold .. o* B angor cf Ar.-lst M.$3,360,000($16,000 p.m.) g.o• 2d mortf,age, $1,050,000 ($5,000 a mile), gold .... Bang.& isoat.a.-Pref.M. GreenExt.,"assumed." Bonds held by City of Bangor, $600,000 a.re 6s. Aroostook No. 1st M., guar. p. & i., gold . ... G.c* ath d Hammondsport-lat mortgage, gold ........ Second mortgage, gold............................. 11, Oreek-Btock (guaranteed 4 pei: cent by end.) lat M.,g, gua.r. p.&1. (end.) ....................•. c&r 2d M. for $1,000,000, ~Id, guar. p. & i. (end.) .c&r Clearf.Bi,um. Coe.I 1st .,int.~. by Bh. Cr., gold.o BetlaireZanesmlled Oin.-Prior en mort.,red.at105 1st M. ($262,000 reserved for prior lien bonds) .. Belt RR. d Stock Yard of Indianapolis-Stock ...••. Preferred stock, cumulative ............•.•••••.•.. 1st mortgage for $1,000,000, currency ............ Belt ~.-1st M.(red. aft. July 1, 1903) g. "IeBa.c* 2d ·.,income to July 1, 1903, when red. at 100. Bel1oidere Det.-lst M., ext. in 1877, guaranteed .. o Cons.mort.1 guar. by United Co's & Pa. RR., s.f.. r ofl875 .. ~ar. byUnitedCo's&Pa.RR., s. f .. r $4,000,000 ssue $600,000 reduced by s. f ..... r Benni-nq. cl Rutl'd-lstref. M. for$500,000, g.N.c*r Berkshire RR.-Stock, $600,000, rental guar ....•• Bloomb. & Still. RR.-lst M., $600,000 (di'. a.t par)c Boston cl Albany-Stock ($30,000,000 authorized) .. Bonds (not mort.) issued to State for its stock .... r Bonds (not m0rt!ageJ for $5,00~000 .......••••. c Pittsfteld & Nort A ams (lease ) stock .....•..•. Ware River RR.stock, 7 p. c. rental 999 years •.. llg 90 92 211 ..77 77 1512 lo 10 150 150 150 ---· ··-· ...... .... .... ·25 25 64 67 67 67 59 ·so 389 -··· ·19 49 --1871 $1,000 n$1,500,000 6 g. J. & J. Ba.It. Office and London. July 1, 1911 1,000 n3,000,000 1871 6 g. A. & O. do do Apr. 1, 1911 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.U Guar. Trust Co. Jan. 1, 1943 1895 5 g. J. & J. N. Y • . 8.Mt~e.&T.Co. July 1, 1945 Bee text. 1883 50()&0 . A. & 0. Boston, Mero • Nat. Bk. Apr. 2, 1913 300,000 5 1869 1,000 Ba.ngor,Me. 925.000 6&7 A. & o. Apr. 1, 1899 1,000 5 g. A. & 0. N. Y., Gua.r. Trust Co. Oct. 1, 1947 1897 225,000 1889 1,000 100,000 5 g. J. & D. New York City. June 1, 1919 1893 1,000 200,000 do do Apr. 1, 1923 g. A. & 0. 50 Q.-J. N. Y., Grand Cent. Sta. Jan. 3, '98, 1% 5,500,000 1,000 4 g. J. & J. 5,000,000 do do July 1, 1936 1892 1,000 500,000 5 g. J. & J. do do July 1, 1936 1891 100 &o. 803,100 4 g. J. & J. N. Y., Kniokerb'r Trust. Jan. 1, 1940 1,000 1889 216,000 J. & J. July,'94, coup.last paid. July 1, 1899 6 1,000 1890 1,138,000 4 J. & J. Jan. 1, 1940 50 1,1 100,0 0 Text. J. & J. Cndianapolis, Co. office. J'ly 1,'96,212% . 50 500,000 Q.-J. 6 do do Jan., '98, 119 1,000 1,000,000 M. &N. Phila., W. H. Newbolds. Apr. 30, 1911 6 1895 ...... 275,000 4to 5 J. & J. Bait., Mere. Tr. & Dep. July 1, 1945 1895 24,000 4 1903-1945 J:·&·n. Philadelphia, Pa. RR. June 1, 1902 1853 1,000,000 6 1,000 1885 500,000 M.& 8. 4 do do BeEt.1, 1925 1,000 1887 749,000 4 F. & A. do do Fe . 1, 1927 1,000 1893 526,000 4 J. & J. do do Jan. 1, 1933 1897 1,000 500,000 412g. M.& N. N. Y., Sec. & Trust Co. Li'ov. 1. 1927 100 Q.-J. 600,000 6 Jan., '98, 112% ··-· ·····--·-· 1889 599,000 5 J. & J. See text. Jan. 1, 192 0 25,000,000 8 in '97. Q.-M. "B3ston,Of..Kneeland St. Dec.31, '97,2% :; A. & O. 3,858,000 do do Apr. 1, 1902 1893 4 A. & 0. 3,627,000 do do Oct. 1, 1913 ]00 ~5v,OOO 5 J. & J. do do Jan.1,'98,2¼ --·· 100 750.000 7 J. & J . do do Jan.5,'98,3¼ --·· i iss6 --· issi i:ooo ··ioo iss2 --- .. The charges for 1896-97• include interest on debt, $1,791,937; taxes, assessments, etc., $302,355; rental B. & 0. S. W. Terminal Co., $60,000. -(V. 65,974, 1020, 1026, 1113, 1218; V. 66, p. 80.) Bt1.ltlm..ore &; Potomac KK.-Owns from Baltimore, Md., to South End Long Bridge, Va.., and branch, 44 m.; and from Bowie to Pone's Creek. 49 m.; total, 93 miles-including tunnel in City of Baltimore; total 93 miles. Controlled by Penn. RR. Co. STOCK.-Oct., 1897, $5,531.1..000 (par $50) 1 of which Penn. RR. owns $4,616,350 and Northern uentral $704,450. BoNDs.-Consols are reserved to retire all the prior bonds as they mature. The first mortgage bonds are guaranteed by Pennsylvania. RR. and Northern Central EARNINGS.-ln year ending Oct. 31, 1897, gross earnings, $1,868,512 net, $503,833; interest on bonds, $420,000; interest on equipment rentals, etc., $54,383; bal., surplus, for year, $29,450. In 1895-96 gross, ~1,882,981; net, $535,904. Bangor &; A roost,ook KK.-(See Map.)-Operates 315 miles of road extending from Bangor northerly to Piscataquis County and the Katahdin Iron Works, and also penetrating tbe farming regions of Aroostook County, eonne('tion being bad at several points with the Canadian Pacific. System embraces: Lines owned (220 m.;Miles. Leased 999 years (V. 56,p. 204.) Brownville to t:aribou ......... 155 Bangor &Piscataqui11and branch..... . ... . ..... 13 j Oldtown to Greenville ....... 77 Oakland to Ashfield, etc ...... 52 to Katahdln Iron Works ..... 18 I t Bellaire Zane111vllle &; Cincinnati Ky.-Owns Bellaire, 0., to Wll.helm Station, 0., 102 miles, three foot gauge; Muskingum County Railroad, Wilhelm to Mill Run, 9 miles; trackage B. & 0. RR., Mill Run to Zanesville, 1 mile; total operated, 112 miles. .A consolidation in 1882 and reorganized in 1889. RECEIVERSHIP.-ln June, 1895, General Manager J. K. Geddes was made receiver, interest due Jan. 1, 1895, on the prior lien bonds being in default. Foreclosure suit brought in August, 1895, but no further action taken to April, 1897. V. 61, p. 239. Stock is: Common, $832,000; preferred, $795,910; var $50. In year endlng June 30, 1897, gross, $98,250; net, $3,096. In 1896, gross, $98,853; deficit under opera.ting expenses, $3,696. In 189!•5 gross,$94,223; net, $1,000. In 1893-4 gross, $97,044.-(V.61, p. 26, 239.) Belt Railroad &; Stock Yard oC Indlanapolll!I.-Owns 14 miles of belt road, etc., at Indianapolis. Leased for 999 years to Indianapolis Union-which see. DIVIDENDS-Since 1894: On preferred in full. On common, in 1895, Jan., 3 p. c.; July, 2 p. o.; in 1896, Jan., 2 p. o.; July, 21g p. c. In 1892 the company stated that the" common stock had not paid less tban 3 p. o. Remi-annually (J. & J.) and a.t times more for past :fifteen years." The $500,000 6s of 1876 due Dec. 1, 1896, have been paid. leaving tbe 6s of 1881 a first lien. President (March, 1897), A. W. Minshall of Terre Haute, Ind.-V. 63, p. 153. Belt Railway (of'Chattanooga, TPnn.).-OWll'!! 25 miles of belt railroad in Chattanooga, Tenn., connecting lines entering that city. Total (220 miles owned and 95 miles leased) ..................... 315 HISTOJ!,Y.-A reorganization of Union Ry. foreclosed June 17, 1895. . . I Leased till July 1, 1945, to Alabma Great Southern RR.; rental guarAlso (?perates Aroosto~k Northern KR., Caribou t_o L1mestone, Me., anteed to meet interest on 1st M. bonds, taxes and maintenance. 1512 m11e,s. ~ompleted m 1897, 3!nd guarantees its first D?,Ortgage STOCK is $300 000 owned bv .hla.. Great So. Ry.-V. 63 p. 6<;9 ltonds, prmc1pal and interest, making total operated, 33012 miles. ' ' · ' • ORGANIZATION. -Organized Feb. 13, 1891. From Houlton to Caribou BONDS.-First mortgage for $300,000, bears interest at 3 p. c. for 2 opened Jan. 1, 1895; from Oakfield to Ashland Jan. 6, 1896. yea.rs from July 1, 1895, 4 p. o. for 2 years more and 5 p. c. thereafter. The charges and rental of the Bangor & Piscataquis, leased from City EARNINGS.-Earnings now included in Ala. Gt. Bo. Figures for year of Bangor, are $83,950 per annum. The State of Maine refunds 95 per 1896-97 gross, $37,978; operating e~enses, $39,272; deficit, $1,294, cent of all taxes levied on road and leased lines. In addition to the owing chiefly to extraordinary repairs.-V. 61, p. 112,610; V. 63, p. proceeds from ·bonds $5,500 per mile, derived principally from sub- 356, 099. scriptions t.o preferred stock. have been spent on construction. Belvidere Delaware KK.-Owns from Trenton. N. J., to MaSTOCK.-Common, $1,050,000; 10,400 shares full pa.id and 100 Uhunk, N. J., 67. m.; FlemingtonRR.,&c., 14 m.; operated cut-off shares, 5 per cent paid; preferred, 5 p. c., non-cum., $1,100,000- paid nunka 1 m.; total operated, 82 m.ileR. Leased to United Companies, and transin, $1,061,';'24; par $100. ferred to Penn. RR. March 7, 1876. Net earnings paid as rental. BoNDs.-Second mortgage bonds for $167,000 had been sold to July 1, STOCK.-Authorized, $4,000,000; outstanding June, 1897, $1,253, 1897, and $883,000 were belJ as collateral by the Aroostook Uonstruc- 000; par, $50. tion Co., ma.king total outstanding $1,050,000; those held by the ConBONDS.-First 6s of 1853 and the $1,249,000 4 per cents of 1885·7 are struotion Co. can only be sold to par any excess of cost of road over first mort~al{e bondt> and stock subscriptions. Car trust of 1897 covers guaranteed by the United Companies, and their guaranty assumed by 598 oars, $3~0,000 on July 1, 1897 ; trustee is Guaranty Trust Co., the Penn. RR. under its lease. Bonds o! 1885, 1887 and 1893 are secured by the consol. mortgage of 1875 for $4,000,000, which provides New York. , On July 1, 1897, there were notes payable $210,067. ANNUAL REPORT-For year ending June 30, 1897, gross, $754,780; for a sinkmg fund of 1 per cent of outstanding bonds it earned. EARNINGS.-ln 1896, gross, $1,000,317; net, $203,938; interest, etc., net, $293,666; charges and taxes, $274,708; bal., surplus, for year, $18,958 1n year 1895-96, gross, $699,662; net, $256,480; rentals, $192,325. 1n 1895, gross, $1,124,214; net, $313,791. $83,050; taxes, $1,223; interest, $150,518; balance, surplus, $2u,789. Bennington&; Rutland Ky.-Rutland to Bennington, Vt., and -(V. 62, p. 454; V. 63, p. 153; V. 65, p. 9'74.) branch, :>9 miles. Organized in 1877. Capital stock, $1,000,000. Bath &; Ham.m.ondsport KK.-Owns road from Bath, N. Y., to EARNINGS.-Year ending June 30, 1896, gross, $241,013; net, $78, · Hammondsport, N. Y., 10 miles. Chartered in 1872. STOCK, $100,000; 193; interest, $33,250; taxes, $6,621; dividend. $30,000; bal.. surplus, par, $100. EARNINGS.-For year ending June 30, 1896, gross, $35,298; $8,321. In1894-5, gross, $224,622; net, $47,717.-V. 65, p. 975. net, $15,555; inoore8t, etc., $15,449; bal., sur. for year, $106. In 1894-5, gross $34,809; net. $17,381; other income, $422; charges, $16,489. Berkshire KR.-West Stockbridge, Ma s., to Connecticut State Beech Creek KR,-( See Map adjt1ining N. Y. Oentral.J-ROAD- Line, 21 miles. Road opened 1842. Leased April 1, 1893, for 99 years Jersey Shore, Pa..,to Mahaifoy,113 m; branches. to Philipsburg, to minesl to N. Y. N. H. & H. RR. for expenses, taxes and 6 p. c. on stock. Old &c., 44 miles; total, 157 miles; trackage to Williamsport, 16 miles, ana lease to Housatonic RR. suspended but not canceled. Capital stock $600,000 (par $100). to Patton, etc., 26 m.; total operated, 192 miles. LEASE, &c.-From Octol>er 1, 1890, leased to the N. Y. Central & Bloom1o1bura &; Sullivan KK.-Owns road from Bloomsburg to Hudson River RR. for 999 years at interest on bonds and 4 per cent Jamison City, Pa., 30 miles. Road built in 1887 and 1888. Stock is on stock. Carries mostly coal and coke; in 1895·96, 3,201,059 tons out $600,000; par, $50. Sinking fund for firsts is $5,000 per annum ; of 3,399,894 total tons moved; in 1894-95, coal and coke, 2,968,004 bonds can be drawn at par; trustee Fidelity Ins. Trust & B. D. Co., tons. The operating expenses are relatively low since the trains carry Philadelphia. e·x ceedingly heavy loads ol freight, the average per train in 1895-96 First mortgage interest due July 1, 1896. not paid. In January, being 593 tons; in 1894-95, 575 tons. Average rate per ton per mile 1898, said to be no floating debt except overdue coupons. 0·38c. in botb 1895·96 and 1894-95. Bee guaranty V. 52, p. 570. NEW PLAN.-Reorganization without foreclosure abandoned STOCK AND BONDS.-The bonds are endorsed with the New York and new plan will be formulated. Chairman or Committee. Morton Centre.l's guaranty of principal and interest. Bee V. 52, p. 570. In McMichael, 315 Chestnut St., Phila.; depositary, Fidelity Ins. Tr. & June, 1892, stockholders authorized the issue of $1.000,000 DflW second 8. D. Co. of Phila. Committee represents over 70 per cent of the mortgage 5 per cent bonds and $1,000,000 new stock, both guaranteed bonds.-V. 66, p. 80.-See v. 64, p. 133. by the New York Central. These securities will be issued from time to EARNINGS.-Year endina June 30, 1897, gross. $58,058; net, $25,167; time to pay for extensions reaching undeveloped coal fields. In interest and taxes, $46,861. In 1895·96, gross, $58,666; net, $28,209. June, 1896, $500,000 of these 5 per cents and $500,000 of stock President, C.R. Buckalew; Vice-Prest. and Treas., Samuel Wigfall, nad been issued to pay tor extensions, etc. Equipment trusts (5 per Bloomsburg, Pa. V. 63, p. 115; V. 64, p. 133; V. 66, :i;. 80. cents) June 30, 1897,$111,000,interest payable at Knickerbocker Trust Co., N. Y.; also $468,000 of 412 per cents of 1895. The Clearfield Bitu• Bol!lton &; Albany KK.-Owns from Boston, Mass., to Albany, minous Coal Corporation has capital stock, $825,000 and bonds author- N. Y. 202 miles; numerous branches, 104 miles; leased lines, 83 milee; ized, $825,000; retired by sinking fund to June ,jU, 1896, $21,900. total operated, 389 miles. A consolidation of December, 1867. This road owns $100,000 stock (out of $500,000) of the Boston TerANNUAL REPORT.- Fiscal year ends June 30. Statement for 1896-7 waB in V. 65, p. 727, showing gross, $1,416,979; net, $755.372; inter- minal Co. and, with others, will use the new Union Station in Boston e11t, rentals, etc., $403,768; dividend1:1, $220,000; balancf", surplus, ror when completed. (V. 62, p. 547; V. 63, p. 308.) year, $131,604. In 1895·6 gros1:1, $1,375,939; net, $718,350; charg~", STOCK-In 1889 obtained permission from the Legislature to Issue $367,473; divideuds, $220,000; bal., surplus, $130,877.-(V. 63, p. $10,000,000 additional stock, $71000,000 being for bonds due in 1892 '753; v . 6 5,p. '72'7). the remainder for improvements. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .RAILROAD STOCKS AND -JANUARY, 1898,J 17 BONDS. Subscribers will c~er a great f'avor by gtrlng Immediate notice of' any error discovered In these Tables. Bonds-PrineiRAILROADS. INTEREST OR DIVIDENDS. Miles Dat,e Size, or When Due. Amount Rat,e f.er When Where Payable, and by pal, of Par Outstanding Stocks-Last F "r explanation of column headings, &o., see not,es of Road. Bonds Value. Oen . Payable Whom. on :fl.rat page of tables. Dividend. Bonds, not mortgage.. l :~:::: Bonds, f Boston d Loweli--Stock .. g~ (I ---- -is10-..... ---· 1 .... --- . do * Boston & Maine gives O* · · Bonds, do a rental guarantiee . O •• . Bonds, do for 99 years. !Bonds, do •• • • .Bonds, do Bonds, $226,900 ...... c ... Salem& Lowell bonds . 1 Nash. &Low plain b'ds l -... IBoston d Maine-Stock, common and scrip ....•••.. Preferred stock, 6 per cent, non·cumulative ...•.. ..... Improvem't bonds, s. f., not mort. or subj. to call ·--· Improvem't bonds, s. f,, not mort. or subj. to call Improvement bonds, not mortgage...•......••... .... Bonds (not mortgage) for imp. & ref....... .... c&r Bonds, not mort~a~e, !old.........•..••...•... c&r East,ern RR.certs.o in ebt.lstM., g.,s.f.,notdrn.o ffi Portsmouth Great Falls & Conway, 1st mort .... c 73 Charleston land mortgage notes ................... Boston d .Prov.--Stock, 10 p. c. guar. 99 yrs., Old Col. . 68 Bonds, not mortiage..•...•..•................... o* 9,uiton Revere Beac & Lynn-Stock ..•........ .•.... New 1st mortgage, $1,000,000, gold ........ . c"&r ...8 ~ORton Winthrop & Shore 1st mort assumed ... 71g Brooklyn d Brighton Beach,--lst mortgage ........ o -Consol. mortgage, $l,OOO,OOO ........... ......... 712 .... lnoowe certinua.litlS . . . . . . . •• • . . . ............. Brooklyn Elevated-See STREET RAILWAY SUPPLE MRNT. Brooklyn & Rockaway Beach.-lstM., $350,000,g. CK 312 Buffalo Oreek-lst mortgage ....................... r 6 --· --I ------· I ---· $6,529,400 Boston, at Office. 8 J. & J. Jan. 1, '98, 4% 620,000 5 J. & J. do do July 1, 1899 41g M.&N. 250.000 do do Maifc 1, 1903 3,675,000 4 Various do do 1 05-6-7-9 1,000,000 4 A. & 0. do do Apr. 1, 1982 1,000,000 4 F. & A. do do Feb. 1, 191~ M.& s. 500,000 4 do Moh. 1, 1915 do 750,000 4 A. & O. do do July 1, 1916 200,000 4 A.& O. do do Oct. 1, 1917 See tiex:t. do 4 ...... do Oct. 1, 1918 226,900 do 6 A. & 0. do Oct. 1, 1898 100,000 July 1, 1900 J. & J. Nashua, Co.'s Office. 5 18,739,200 6in 18 7 Q.--J. Boston, at Office. Jan.1 '98,112% 100 3,149,800 M.& 8. do do Sept. 1,'97, 3% 6 1,000 1,000,000 F. & A. do do 4 Feb. 2, 1905 1887 1,000 500,000 do 4 F. & A. do Feb. 1, 1907 1,000 1887 1,919,000 F. & A. do do 4 Feb. 1, 1937 1892 1000&0. 2,500,000 4 F. & A. do do Aug. 1, 1942 1,000 6,000,000 1894 do 412 g. J. & J. do Jan. 1. 1944 1876 $&.£ 8,473,307 6 Ii(. M.& 8. Bost.; Lond., Baring Br. Sept. 1, 1906 41g J. & D. 1877 500&0. 998,000 Boston, at office. June 1, 1937 .... 597,800 ...... Q·..:..:.j-: Sept. 1, 1906 4,000,000 Boston, Of., Sears Bldg. Jan.l '98,212% 10 '88-;93 1,000 2,170,000 J. & J. do do 4 July 1, 1918 100 Boston. 850,000 21n1897 J. & J. Jan. 1, '98, 1% i897 lOOO&c. 561,000 412g. J. & J. Boston, State St. Tr. Co. July 15, 1927 1886 1,0UU 289,000 M.& 8. do 5 Sept. 1, 1906 1887 1,000 fi 1896 500,000 M. & 8. Mar.,'96,pd. Mar. 24,'96 Sept. 1, 192? 1,000 1895 500,000 5 g. M . &N. In default. May 1, 1946 394,500 Sept. 1, 1935 6 ··-··· 1891 Brooklyn, N. Y. 338,000 6 g. M:·&N. May 1, 1931 1882 250,000 J. & J. N. Y., Farmers' L. & Tr. Jan. 1, 1907 6 1883 1885 1892 1893 1895 1896 1897 1898 $100 ·----·--··· i:ooo 1,000 i~ooo 1,000 -----isso ..-----· ioo --· --iss5 J ------- ---·--- §· ·ioo ·--·--·--- i:o·oo DIVIDENDS-Cash dividends ii,t the rate of 8 per oent yearly have been \ paid.tor many years. Stock dividend, 10 p. o. in 1883 ii.nd 3~ p. o. in 1886. ANNUAL REPORT.-Fiscal year en d s J une 30. R eport f or 1896-97 was l n V. 65, p. 275. Year ending June 301897. 1896. 1895. Gross earnings .................. $9,114,625 $9,350,632 $9,130,866 Net earnings . ................... $2,456,550 $2,438,767 $2,551,506 Interest paid.................... $337,980 $337,980 $453,150 Rentals.......................... 78,000 78,000 78,000 Dividends (8 per cent) ......... 2,000,000 2,000,000 2,000,000 Year Ending June 30. 1897. Miles operated ........ . ......•.• 1,718 Passenger department ....•••.. $8,531'!,278 Freight department ...•••... _•• 9,975,436 Mails, express, etc ....... _.... . 1,042,973 1896. 1,717 $9,099,273 10,343,123 1,017,695 1895. 1,293 $7,754,998 8,274,862 862,453 Total. ....................... $19,556.687 $20,460,091 $16,892,313 Oper. expenses, excl. taxes .... 13,609,106 14,547,693 11,794,528 ------ Net earnings ................ $5,947,58 1 $5,912,398 $5,097,785 Net, includ. other income....... $6,638,983 $6,597,361 $5,705,539 Interest......................... 1,104,726 1,096,396 1,105,690 Balance, surplus.. _. •.. _.. . . . . . • $40,570 $22,787 $20,356 Rentals.......................... 3,208,012 3,140,910 2,396,246 Taxes ............... __ ........... 988,348 981,954 824,572 -(V. 63, p. 227,308,837; V. 64, p. 286,951; V. 65, p.193, 275, 923.) Dividends....................... 1,234,002 1,234,002 1,233,997 Boston & Lowell KK.-RoAD-Owns Boston to Lowell, 27 miles Sinking fund ... _........... _.... 68,601 72,633 72,749 branches-Salem and Lowell, 17 miles; Lowell and Lawrence, 12 miles; others, 32 miles; Middlesex Central, 11 miles; leases-M.anchest,er & Bala:i;ioe, surplus................ $35,29-1 $71,466 $72,285 Keene RR., 29 miles (owned jointly with Concord & Mon. RR.); Central -(V. 64, p. 329,951; V. 65, p. 325, 565, 923.) Massachusetts, 104 miles; Connecticut & Passumpsio, 147 miles; total Hoston Revere Beach & Lynn KK.-Owns narrow-gauge road teased, 280 miles: total owned and leased, 369 miles. trom Lynn to East Boston, Mass., 9 miles, connecting with Boston by LEASES.-Leased in 1887 for 99 years to the Boston & Maine at 7 per oompany's ferry boats; Boston Winthrop & Shore Div., East Boston to ceut per annum on stock till and includin~ .January, 1897, dividend, Winthrop, 5 miles, with branches 3 miles. The mort.,.age or 1897 is and 8 per cent thereaftier; dividends July, 1897, being 4.,p. o. for $l,OOO,OOO <trustee, State St. Trust Co., Boston); $2'89.000 reserved STOCK AND BONDS.-Stock authorized, $6,529,400. The debentures for Boston W. & S. 5s; balanceunissuedis.forimprovements. (V. 6f>, p. were described on pal>e 2, SUPPLEMENT 01' April, 1895. In March, 68.) Dividends: 1888 to 1891 inclusive, 7 p. c. per ann.; in '92, 5½3; in 1.896, $200,000 of additional stock was authorized for real estate pur- '93, 5 p. o.; in '94, 4.lg p. c.; in '95, 4 p. o.; in '96, 3 p. o.; in 1897, 2 p. c.; chases and to take up a note for $100,000. The 20-year currency 4s in 1898, Jan., 1 p. c. of 1896 for $750,000 were issued July 1, 1896, to retire like amount DIVIDENDS. { 1888-91. '92. '93. '94. '95. '96. '97. '98. of 6s due on that date; in Oct., 1897, $200,000 4 per cent 20•year bonds Percent. 5 7yearly. 512 5 412 4 3 2Jan.1% to refund $200,000 Lowell & Lawrence 6s due Oct. 1, 1897. StockEARNINGs.-Year ends June 30. Report for 1896-7 in V. 65, p. 568. holders have authorized the issue of $226,900 4s Oct. 1, 1898, to retire the Salem & Lowell 6s then due•-(V. 64, p. 41; V. 66, p. 80.) Yea1·. Gross. Net. Int. re taxes. Div. paid. Bal., siirp. $C30,692 $54,948 $25,500 $244 Boston & Maine KK.-ROAD-The syRtem with its many branch 1896-97 ....... $.264,530 1895-90 ....... 27:.:J,569 84,995 54,536 34,000 def 3,541 lines covers the territory from Boston, Mass., to Portland, Maine. 100,794 56,372 34,000 10,422 Springfield, Mass., tiherbrooke, Can., etc., and all important places in 1894-95 ....... 280,324 New Hampshire, and iucludtis: -(V. 63, p. 716, 837, 879, 967; V. 64, p. 1000; V. 65, p. 68, 5 68.) Lines owned. Miles. Miles. Brattleboro & Whitehall KK.-Road from Brattleboro to Boston,Mass.,roPortlan~,Me. 116 Branches l~ased.... .. . . . • . ••. 570 South Londonderry, Vt., 36 miles. Leased from 18!:IO to New London Boston to N. H. State Lme.. 41 Trackage rights...... . .... .. 7 Northern for 99 years at an annual minimum rental of $9,600; operConway June., Me., to North Total operated July 1, '97.... 1,717 ated since 1883 by Central Vermont. New London Northern owns all Conway, N. H............... 73 Double track ................. 3LO the bonds. Capital stock is $200,000. Sundry branches. __ ...••....• 140 Hrooklyn & Brighton Beach KK.-Owns dou 1le-track road Lines leased. Controls Me. Cent. (which see). 822 l'rom ~tlantio Ave. corner Franklin Ave., Brooklyn, to tirighton Beach, tate Line to Portland .... _.. 67 Portland & Ro chest er .. _. . _. 55 L. I., 719 miles. In July, 1897, trains belonging to this~compdony were Lines to Sherbrooke (P. Q.),} St.Johnsbury & Lake Champ.131 discontinued, the Kings County Elevated trains only being run over Rochester, White River, York Harbor & Beach ....... 11 the roa l. Rtiorganization after foreclosure it , October, 1887. Eleva703 Northampton, Groveton, Vermont Val. of 1871. ....... 24 ted extension on Franklin Ave. was leased to the Kings County ElevaKeene.... .. ...... . . . .. . ... Sullivan County .............. 26 ted in February, 1896. Through tra1ris are run from Fulton Ferry to The leased lines include: Concord & Montreal, leased .Tune 291 1895, Brighton Beach. V. 63. p . 754. 8TOcK.-Common, $500,000; preBoston & Lowell, Central of Mass.,Nashua & Lowell, Northern or N. H. ferred., $500,000. Stock assessed 312 ri . c. in 11393. Worcester Nashua & Rochester, Connecticut River, etc.-for terms of BONDS, ETc .--On July 1, L896, loans and bills payable were $i9,976. leases see each company. Profit and loss deficiency June 30, 1896, $361,528. March, 1896, ORGANIZATION, ETC.- In 1890 a consolidation was made with the coupons were paid at Central Trust Co., N. Y., March 24, 1896. Sept., Eastern Railroad of Massachusetts and the Portsmouth Great Falls & 1896, coupons not paid. Conway, on terms in V. 50, p. 589 . .July 29, 1895, the Concord & The consol. 2d mort~a.g e was made May 1, 1896, to Brooklyn Trust Montreal was leased for 91 .vears. See V. 61, p. 513. From Jan. 1, eo., trustee. Income bonds dated :sept. 1, 1895, were issued in settle• 1893, the Connecticut River Road was leased for 99 years. V. 56, p. 245. mentor current indebtedness to that date. An agreement with N. Y. N. H. & H. regarding division of territory RECEIVERSHrP .-Receivers, appointed Jan., 1898, Geo. W. Palmer was made in '93. (V. 56,p. 464.) . and E. L. Langford. Foreclosure proceedings were in,itituted on Jan STOCK.-Common stoo1r authorized, $18,754,200; preferred stock 5, 18~8, by Central Trust Co , trustee of first mortgage. - V. 66, p. 80 $3,1'19,800; ontstandin~ in June, 1897, as in table above. In 1891-92 First Mortgage Committee.-Geor~e S. Edgell, 192 Broadway, $'1,592,100 stock was issued to stockholders at par. (V. 52, p. 164, 349.) Of common stock $945,200 held by mortgage trustees of J. K. 0 Sherwood and Fred Ing raham.-V. 66, p. 132. EARNI. Gs.-Year ending June 30, 1896, gross, $67,604; net, $8,596; Eastern RR. and$376,200 by B. & M. June 30, 1897, drew no dividends, charges, $48,205; bal., deficit, $39,609; terminal property (charge), DrvmENDS.-On preferred, in full to date. On common.} '87 '88 '89 '90 '9J '92 '93 '94 to Jan., '98. $9,787; total deficit for year, $'19,396. In 1894-95 gross, $99,300; net, $32,0dO. Total deficit July 1, 1896, $364,527. President, E. L. Lang• eince'85.P.C.. { 10 9 9 919 9 8 8 6 yearly. i'ord (elected Sept., 1890).--(V. 63, p. 268,559, 754. 1009; V. 66, p. 80, BONDS.-As to debentures see SUPPLEMENr of April, 1895. 133, 183.) In November, 1894, the floating debt had all been paid off. B. & M. Brooklyn & Rockaway Beach KK.-Owns road from East guarantees $1,328,000 first 5s of St. Johnsbury & Lake Champlain. New York (Brooklyn) to Canarsie Landing, Jamaica Bay, 312 miles (of Also interest on $l13,500 Portland & Rochester and $274,000 Man• which 3 miles double track), and operates ferry to Rockaway Beach. chester & Lawrence 4 p. c. bonds. Jointly with Maine Central guar- Operations suspended during winter months. Rails 50-56 pounds antees $300,000 Portland Union Ry. Statton bonds. · steel. STOCK is $150,000; par, $50. DIVIDENDS.-In 1890 and 1891, GENERAL FINANCES.-The lease of the Con. & Mon. in June, 1895, frees each 5 per cent; 1892, 6 per cent; 1893, 10 per cent; in 1894, (¥) per the company from all rail competition in its special territory. In Dec., cent. In year endint; June 30, 1897, gross, $15,682; def. under oper• 1895, the Central Massachusetts issued $100,000 of its new 5s to ~os- ating, $6.393; other income, $6,626; interest and taxes, $:l!:l,293; bal. t-On & Maine for claims to April 1, 1895, and in .Tuue, 189 7, the Con. & defiuit for year, $28,060. In 1895·6, gross, $42,407; net, $:l,574; other Mon. issued $650,000 debenture 4s to B. & M. for advances. ( V. 61, p. income, $5,643; charges, $24,272; bal., deficit, $16,055. 1063; v. 65, p. 26.) Onff'alo Bradford & Pittsburo- KK.-Owns 'from Carrollton, ANNUAL REPORT.-Annual meeting second Wednesday in October. N. Y., to Gilesville, Pa., 26 miles. Tfi'.e Erie RR. holds for it~ new mortgage all the $580,000 bOnds due Jan. 1, 1896, and $2,189,900 of Annual report 1896-!l7 iu V. 65, p. 565, showed results as follows, the o perating expenses iu 1896-97 including $609,287, in 1895-90 $1,060,- the capital stock of $2,286,400; par $100. (V. 62, p. 39.) 66:3. and $895,1!7 in 18~4-95, spent for permanent improvements. Bnff'alo Creek KK.-Owns 6 miles of terminal road in Buffalo, The earning-a of the Concord & Montreal are included in 1896 but N. Y. In January, 1890, leased for term of charter less one day, to the a.re ,wt included for 1894 or 1895. The C. & M. had gross earniu~s of Lehigh Valley and the Erie RR., which together own entire capital 2,477,199 for the fiscal year ending June 30, 1395 stock of $250,000. Dividends in year 1895-96, 7 p. c. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ----- ---·-- - - - - I I I I I N. Y.; IS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTO.RS' SUPPLEMENT. [VoL, LXVI. Ore Hill MAP OF THE BUFFALO, ROCHESTER AND Pl'TTSBURG R'Y ----------------------·-·-· JANOARY, STOCKS AND BONDS. 1898,] 19 Snbscrlbers -will confer a great Cavor by e;lvlng immediate notice oC any error discovered in these Tables. RAILROADS. INTEREST OR DIVIDENDS. BonWhds-PrDincl - - - - - - - - - - - - - - - - - - - - - 1 M l l e s Date Size, or Amount -----------------,pa, 1 en ue. of of Par Outstanding Rate Per When When Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. For explanation of column heading, &c., see notes - - - ----------------- - - --- ---- - _____ ,____ -----1--------~-- ,------ u{Jalo O1•eek-(OoncVdJ-Con. M $1,000,000 f!. c* Buffalo N. Y. ct Erie-SEE ERIE RA.ILRO AD. Buffalo Rochester cl Pittsb •irg-Common stock...... 6 . ... 1891 .... $1,000 $238.000 100 100 1,000 1,000 1,000 1,000 1,000 1,000 6,000,000 6,000,000 1,300,000 3,920,000 4,407,000 1.000,000 350,000 20,000 301,500 606,000 1,518,000 1,211,500 5,500,000 6,500,000 825,0QO 1,905,000 6,425,000 150,000 1,2::i0,000 1,000,000 See text. .£1,121,700 $12,000,000 2,232,000 1,595,000 2,998,500 Pref. stock, non-cum.; com. 6%; then pro rata. .. . R. &P. lstM ,gold,Rochesterto Salamanca .... c* ios issi R. & P. consol. mort., $20,000 per mile,gold, g.c* 276 1882 B. R. & P. 1st general M. ($10,000,000) g ... Un c* 276 1887 1897 Debentures, $3,000,000, currency,call at 105.c" Lincoln Park & Charlotte 1st mort.,gold,guar .c* · 10 1889 Perry Railroad 1st mortgage, guaranteed..... 1 1882 Real estate mortgage •••......... -. . . . . . . . . . . . . . . . .. . Var'us B. R. & P. car trusts, gold, Dec., 1897...... .. . . . . . .. . '90 '97 50 Buffalo ct Susquehanna-Stock, $2,000,000........ ··-· 1st m.,$2,000,000 g., s. f.,subj. to call at par.c*&r 112 1893 500 &c. 100 Burlington Oedar Rapids ct Northern-Stock... . J.Ue 1st mortgage,.·--···· .......................... c*&r 369 i876 lOO&c. Ced. Rap. I. F. &N. W., lstM. g., guar.,red. at 105 55 1880 1,000 Consol.lstM.,gold,guar. (Seetext)$4,000,000 .c 1881 1,000 B.C.R.&N. con. lstM. &col. trust,gold....... c*&r ·All 1884 l,OOO&c 500 Minneapolis & Bt.Louis,lst mort., gold (assumed) 12 1877 .Busk Tu,nnel R11.-lst 1:11ort..z. gold, red. at 105 .... c* ... . 1890 1,000 Butte Anaconda ct P(lC'l,jic-::stock $1,000,000 .... _.. . .. . 100 1st mortgage, $3,000,000 ................ -... -. . . . .. . . is93 ----·· .£100 -Oatgary ct .Edmonton-1st mort. 6s, red. at 110 ._ .. 2 9 5 1890 Oalifornia Paciftc-Stock ... _.......... _.......... _.. . . _. ..... $100 1,000 1st mort., gold (ext'din 1887) .... ·-············-·· 114 1867 2d M., gold,gu.p.&i., end. by Oen. Pac., ext. in '91 114 1871 1,000 3d M .. gold, guar. by Cent. Pac. ($1,000,000 are 3s) 114 1875 500 Cambria ct Olearttela-Stock, $2,150,000 auth..... 50 50 1,000 1st M. ($2,000,000) gold ............. ·--··· ...... c* 80 is9i Camden ct Atlantic-SEE WEST JERSEY & SEA SHO RE. ..... 25 -Oamden ~ Burlington Oounty-Stock, 6 p. ct. guar. 30 lstmortgage,$350,000, gold, gu.p.&i.by P.RR. c* 30 1897 1,000 --·- i:ooo I g~g;ggg 381,925 350,000 5 g. J. & J. N. Y., Farmers' L. & Tr. Jan. 1, 1941 .....• .... .• 6 g. 6 g. 5 g. 6 5 g. 7 5&6 ..... . . .. . F. & A. J. & D. M. & 8. J. & J. .T. & J. J. & D. Various 5 J. & D. 5in 1897 Jan. 5 g. A. & 0. 4 in 1897 F. & A. 5 J. & D. 6 g. A. & 0. 5 g. A. & o. 5 g. A. & 0. 7 g. J. & D. 7 g. J. & J. ···-·· ··-·· 5 (1) See text. J. & J. .... ..... 412g. J. & J. 412g. J. & J. 3 g. & 6 g . .T. & J. .....•.... . ...... . N. Y., 36 Wall Street. Aug.16,'97,1% N. Y.~OUnion Trudost Co. Feb. 1, 1921 a. Dec. 1, 1922 do do Sept. 1, 1937 New York. Jan. 1, 1947 do do .Tan., 1939 do do June, 1902 Rochester, N. Y. Various. do do 1898-1907 .......... Feb.1, '98, 5% N. Y., H. Fisk & Sons. Oct., 1913 N. Y., Corn Exch. Bank. Feb. 1, '98, 2% N. Y., Central Trust Co. June 1, 1906 do do Oct. 1, 1920 do do Oct. 1, 1921 do do Apr. 1, 1934 N.Y. ContinentalN. Bk. June 1, 1927 July, 1896, not paid. July 1, 1935 .......... See text. 1923 Lon.,Morton,Rose&Co. July 1, 1910 ·····-···· ....... . N.Y.,8.Pac.Co.,23Br'd. Jan. 1, 1.912 do do Jan. 1, 1911 do do July 1, 1905 ··if g. J:·&··J. Phila., Broad St. Sfat'n. Ja:n:·1,--i941 6 J. & J. Phila., Broad St. Stat'n. Jan. '98, 3% 4 g. F. & A. do do Feb. 1, 1927 Bnff"alo Rochester & Plttsbnrg Raihvay.-(See Map.)-Oper. been accepted. Busk Tunnel Committee: A. E. Hambro, J. A. Bryce, .ates from Buifalo and Rochester, N. Y., to the bituminous coal regions: and Messrs. L acklan, Young and Rowe. V. 65, p. 327, 367. Lines owned in feerMiles. Leased--Entire sl'k own'ilr- Miles. Burlington Cedar Rapids & Northern Ry -Operates. BuifaloCreek, N. Y., to Howard Johnsonburg & Bradford RR.-• · June., Pa .........•............ 81 Howard June. to Mt. Jewett . 20 Lines owned infeerLeased-All stock owned-Clarion June., to Walston, Pa. 66 Lincoln Park & Charlotte .....• 10 Burlington, Ia., fo State Line, Iowa City & Western RR., Rochester to Ashford, N. Y .... 94 Perry RR........................ 1 Minn. (less 11 miles leased) .. 230 IowaOitytoWhatCheer,&c. 75 Four branches to mines........ 13 Leased-Stock not owned. Branches owned to Postville, Cedar Rapids, I. F. & N. W., TrackageCleartleld & Mahoning-,r · Riverside, Holland, etc .....•• 204 Holland, Ia., to Watert0wn, Erie-Mt. Jewett to Clarion J .. 21 Clearfield to Beech Creek RR. 26 LeasedSo. Dak., &c.. ...••.... .•.• •• 493 Buifalo Creek RR. into Buifalo. 5 Mahoning Valley RR........... 2 Manly Jc. to Norwood ......... 11 Ced. Rap. & Clinton RR., &c. 111 I State Line to Albert Lea, Minn. 12 -Total (iTSee separate statement for this company) ................ 339 Total operated Jan.1, 1897 .1,136 ORGANIZATION, ETc.-Successor in March, 1887, to the Rochester & HlsTORY.-Successor to the Burlington Cedar Rapids & Minnesota Pittsburg, which was foreclosed in October, 1885. Plan of reorganiza- RR. Co., foreclosed June 22, 1876. Leases in perpetuity the Iowa City in V. 41. p. 516. The entire capital stock of the Rochester & Pittsburg & Western and Cedar Rapids Iowa Falls & Northwestern, Cedar Rapids Coal & Iron Co. is owned and through that company in May, 1896, con- & Clinton and Chicago Decorah & Minnesota railways. trol was acquired of the Bell, Lewis & Yates P!Operties, incorpora~ed BTOCK.-Authorized, $30,000,000; outstanding, $5,-500,000; par, $100 as the Clearfield & Jefferson Coal Co. (see Miscellaneous Cos.) with The Rook Island co is understood to be a large stockholder $3,000,000 stock and $3,000,000 bonds. The B. R. & P. Ry. controls · • the coal output from over 30,000 acres of bituminous coal lands in DIVIDENDS- 5 1893. 1894. 1895. 1896. 1897. · 1898• .Jefferson and Clearfield counties,.~a. V. 62, p. 908; V. 63~ p. ll5.. Per cent. ~ 3. 3. 3 4 4 Feb., 2 The Clearfl.eld&Mahoning secur1t1es_are gua:r:anteed. A _lmeto ~1tts• BoNDs.-Oedar Rapids I. F. ct N. w. bonds are guaranteed (p. & i.), burg has been surveyed, but construction awaits better times. V. 63, and so endorsed; the 6s are subject to call at 105 ; of the 5 per p. 29 · cents of 1881 $825,000 are reserved to retire the 6s and certain others DIVIDENDS.-On pref., in 1892, 5; in 1893, Feb., 114 p. c.; in 1897, are deposited as collat eral under the B. C.R. & N. consol. mort. There .Aug., 1 p. c. V. 65, p. 234. are also 5 per cents issued under a $10,000,000 mortgage of 1884, BoNDs.-General 5s ror $5,593,000 are reserved for prior bonds, etc. whlch are all deposited under B. C. R. & N. mortgage of 1934. The $3,000,000 debentures of 1897 are to be secured by any subseOf the B. a. R. cl: N. 5s of 1884 (Central Trust Co., Trusteei, bonds are quent mortgage made except if made for refunding existing prior liens reserved to retire, if deemed best, all prior and divisional bonds. For -or for extensions exclusively; debentures are subject to call at 105 extensions bonds may be issued at $15,000 per mile for sin~le and $7r any January or July. Bee V. 6~, p. 706. R. & P. income 6s due Feb. 500 per mile for second track, the total author. issue not beIDg limitea._ 1, 1921, for $5,000 are outstanding. Minneapolis cl: St. Louis bonds due June, 1927, numbered from 1,101 GE_NERAL FINANCES.-ln J~ne ~1,000,000 debentures were sold and to 1,400, for $500 each ($150,000 in all), have been assumed. . 9 dloatmg debt of $ 00,000 paid off. _ E.A.RNINGS.-11 months, t 1897.... Gross, $3,920,783; net, $1,137,626 EARNINGS.-5 months, t .1897 .... gross, $1,613,043;. net, $<>96,139 Jan. 1 to Nov. 30. 5 1896. : .Gross, 4,067,598; net, 1,019,173 July 1 to Nov. 30. 51896 •.•.. gross, 1,539,6 4 9, net, 526, 921 ANNUAL REPORT.-Fiscal year ends December 31. Annual meeting ANNUAL REPORT.-Fiscal year ends June 30. The annual meeting is is held last on Tuesday in May. Report for 1896 was in V. 64, p. 948. held at New Y(?rk on the trn:rd Monday in November. The report for Year ending Dec. 31- 1896. 1895. 1894. 1893. 1896-97 was given at l~ngth ID V. 65, p. 616, 631. In 1896-97 carried Miles operated 1 136 1 136 1 134 1 134 ~,949,582 top.s of bitummo~s coal (out of 4,373,188 total tons of freight Gross earnings····· ·$4 450 035 $4 504 332 $3 748 829 $4 224 754 moved), agamst 2,433,165 ID 1895-96. ······ ' • ' ' ' ' ' ' Yea end June 301897 1896 l89 5 Net earnings ...... $1,083,303 $1,454,372 $1,-026,612 $1,146,319 1894 Gros/earnings ........ $3,3ll, 766 $ 3 , 141 , 888 $ 3 , 028 , 216 $ 2 , 780, 237 Other receipts...... 28,205 49,480 _ _ 37,197 36,949 Net earnings.......... $961,524 $856,976 $756,927 $629,811 Totalnetincome.. $1,111,508 $1,503,852 $1,063,809 $1,183,268 Other income.......... 35,510 37,889 38,225 39,588 Cnterestondebt..... 807,673 811,080 811,280 810,680 - - - - - - - - - - - - - - - - Dividends ......•.... (4)220,000 (3) 165,000 (3) 165,000 (3) 165,000 Total receipts..... $997,034 $894,865 $795,152 $669,399 Miscellaneous...... 1,642 1,103 11,325 Interest on bonds .... $598,777 $603,901 $596,271 $594,368 ---$527,772 $86,426 $196,263 Int. on floating debt.. 46,705 45,860 31,252 30,126 ·Surplus............ $82,193 335,374 333,601 323,281 Rentals............... 120,665 127,460 124,960 123,932 Cash assets prev.yr. 754,812 - - - - - - - - _ _ _ _ _ _ _ _ Improvements, etc. 146,677 133,240 5,895 102,872 Balance ............. sur.$230,887 sr.$117,644 sr.$42,669 def.$79,027 $414,132 Tot. sur. Jan. 1,'97. $690,328 $729,906 $416,672 -(V. 64, p .. 233,329,706,842; V. 65, p. 232,616,631, 869.) -(V. 62, p. 39,501,866; . 64, p. 948,) Bn-ff"alo & Susquehanna RH.-Owns from Keating Summit, Butte A.naconda & Pacific Ry.-Operated in May, 1897, Butte -0n the Western New York & Pennsylvania RR., to Ansonia, Pa., on the Fall Brook RR., 62 miles; Galeton to Wellsville, on Erie to Anaconda, 26 miles; branch, Rocker to Butte Hill, about 9 miles. RR., 37 miles, with branches 13 miles; total, 112 miles; trackage on Bonds authorized at $-40.000 per mile. Capital stock, $1,ooo;ooo (par Fall Brook Ry. (Ansonia, Pa., to Corning, N. Y.) 43 miles; total oper- $100). On June 30, 1895, the Great Northern owne.d $490,000 stock .at~d, 155 miles. The road att'ords outlet .ror an extensive timber sec• and $1,000,000 bonds, and June 30, 1897, $700,000 bonds additional tion (upwardsof200,000 acres), to Buffalo, New York and Philadelphia. were outstanding as collateral for $627,620 loans and bills payable; the Anaconda Copper Mining Co. owned $510,000 stock, DIVIDENDSl 1895. 1896. 1897. 1898. For year ending June 30, 1897, gross, $991,958; net, $587,006; taxes, paid in Jan., % 5 4 5 5 Feb. 5% $3,021; interest ou bonds and loans, $85.327; balance, surplus, for CAPITAL STOCK is $2,000,000. January, 1895, paid dividend of 4 p.c., year, $493,658. Dividends at 6 per cent per annum in 1896-97. and in January, 1896, paid 5 p. c.; Jan., 1897, 5 p. c. Calgary & Edmonton .Ry.-Owns from Calgary, Canada, to BoNDs.-Mortgage, V. 57 p. 639, and application to N. Y. Stock Exchange, V. 58, p. 1036. Bonds cannot be issued to exceed $15,000 Edmonton, Can., 191 miles, and to Fort McLeod, Can., 104 miles. per mile of road completed and equipped. The mortgage is also a lien Leased at cost of operating July 1, 1896, for 5 years to Can. Pacific, V. -0n about 89,394 acres of timber lands, estimated as worth $1,700,000. 62, p. 1086. The Government subsidy (of £16,000 per annum for 20 The sinking fund retires each year as many bonds as indicated by years) and total net earnings will be applicable to payment of in• dividing total outstanding by the number of years the bonds have yet terest, the balance of any coupon to receive f!crip-redeemable out of to run, purchasable in the open market, or subject to call at par in surplus earnings. On Jan., 1897, coupon 1 p. c. was paid; on July, order of numbers, beginning with the highest. V. 65, p. 234. To Oct., '97, coupon, 114 p. c. J an. , 1898, (1) p. c. was paid. The land grant was 1,888,448 acres, of which 407,402 acres unsold was held (Oct., 1896,) 1897, $258,500 firsts had been retired by sinking fund. by Government against subsidy. Stock $1,000,000, par $100. Fiscal EARNINGS.-{ Grnss. Net. Oharges. Bal.,sur. year ends June 30. Report for 1896-7 was in V. 65, p. 1170 showing 5 mos., July 1897•..•. $301,707 $147,780 $63,340 $84,440 gross (after deducting earnings from Government service), $131,630; 1 to Nov. 30. 1896.... 262,553 146,579 64,936 81,643 net, $67,315. In 1895-6, gross, $88,820; net, $31,264.-V. 65, p. 1170 REPORT.-Report for 1896-7 in V. 66, p. 79, showed gross, $579,798; California & Nevada RR.-See V. 63, p. 29. illet(ov~r.taxes), $293,175; interest, $64,984; sinking fund, etc.,~$87,· 483; dividends, $75,900; bal .. surp., for year, $61.80:,. In lti95-6, California Pacific Ry.-Owns from-Vallejo, Cal., to Sacramento, gross, $487,844; net,-$217,74.6.- (V. 65, p. 234; V. 66, p. '79.) Cal. 60 miles: branches to Calistoga, &c.. 54 miles: total, 114 miles. In Busk Tunnel Ry.-Owns road from Busk to Ivanhoe, Col., 2•9 November, 1886, leased for 50 years to Southern Pacifl.o Company. miles, includina-1·78 miles ortunnel, opened Dec., 1893. interest has In 1896 lessee paid rental of $512,969. In 1895 gross, $1,070,350; been in detaiift since July. 1896, and to Oct., 1897, the terms offered net, $436,467; taxes, $38,685; rentals etc., $17,640; rental, $600,000; bonds by Colorado Midland reorganization 1:1lan (V 64, p. 1224,) had not loss to lessee, $219.8.°JR https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I I 1N VEST(.\RS' SUPPLEMENT. [VOL. LXVI. Subscribers will conCer a great favor by giving Immediate notice of any error discovered In these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Prino1Miles Date Size, or Amount - - - - - - - - - - - - - - - - - pal,When Due. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-La.st on first page of tables. Road. Bonds Value. _ _ _ _ _ _ Cent. Payable Whom. Dividend. 1 Canada Atlantio-Btock ($1,000,000 is pref.) ....... 1st mortgage, gold (see V. 62, p. 277) .......... ck Oanada Mich. & Ohic.-lst mort. See V. 63, p. 838 Oanada Southern-Stock ..... __ ...•. ................ 1st M. $14,000,000 (Can. money). SeeV.631188. 2d M. for $6,000,000. Canad n money. Do. o.c&r ias 459 404 404 $ ...... 1,000 1,000 100 1,000 1878 1883 1,000&c 1,000 1895 100 1889 Lea.m. & St. Clairlst M., gold, gu., p.&i.(end) .... c* 16 Canadian Pacific-Stock (See text) ............... Pref. stock limited to 4 p. c., non-cumulative .... r Ca.n.Cent.RR.lstand2dmorts.,lstM.s.f.,dr.at105 269 '79·;80 3uebec Prov. due on Q. M. 0. & O. and N. 8. RR. 370 '82-'83 an. Pacifl.c, land mort, gold (redeem at 110). ... 1881 let mortgage debenture sterlin~................ 3,22i 1885 let mort. on Algoma Branch, io d .......... c*&r 183 1888 Land ~nt bonds, int. gu. by an. Gov't ... c*&r 1888 Conso dated perpetual debenture stock ........ 1889 PRINCIPAL SECURITIES OF LEASED LINES. Manitoba 8. W. Col.R'y$12,000p.m.,int.guar.g 218 1884 Atlantic & N orthwest-lst mort. gold, guar .. c* &r 350 1887 North Shore Ry.-lst M. C. P. owns $610,767... 205 1883 St. Lawrence & Ottawa--lst mort., gold, see text 58 1876 Onta.rto & Quebec stock guaranteed in perpetuity Ont. & Que. deben., interest ,ro.ar. in perpetuity .. Toronto Grey & Bruce, 1st M., gold, int. as rental. iiii 1883 New Brunswick Ry.lstM.,gold,int.fromrental.c* 174 1884 Perpetual consol. debent. stock, int. guar ....... Cape Fear cf Yadkin Val.-lat M.,series A,gold.c•&r i5o 1st M., Ser. "B,' gold (2d on 233 m.) ......... o*&r 73 1886 1st ., series C, fold (2d mort. on 225 miles.).c*&r 82 1886 Consol. mort., $ 5,000 per mile, gold .......•. c*&r 329 1889 B. Car.Pac.(leased) lstM.State line to Bennettsv. 1012 1884 Oarolina Oentrat-lat mortg-a~e. gold (see text) .. c* 237 1881 Shelby Division, 1st M. ($250,000) g. Ifie Ba .. . c 1894 i886 .eioo&c 0 500° &0. £100&c £100&c £100&c ···trg. 2,544,000 5 1,000 £100&c £1,330,000 5 £100 $616,120 5 (6) £200,000 £50&0 $100 $2,000,000 6 £4,007,381 5 4 £100 £719,000 £100 £600,000 5 £947,872 4 6 1,500,000 $i)>oo 6 1,000 734,000 820,000 6 1,000 1,000 1,868,700 6 104,600 6 100 &c. 2,000,000 4 (6) 1,000 152,000 4 (6) 1,000 Cambria & Clearfield KK.-In operation from Cresson to Glen Campbell Junction, 48 miles ; branches, 49 miles ; total, 97 miles. Stock-authorized, $2,150,000 (par $50) ; paid in $1,300,550 all owned by the Pennsylvania RR. Co., which operates the property ~der an ar!angement terminable at option of either party. Net ea.rnmgs are paid as ren~al. A full abstract of the mortgage was in V. 5~, P: 976. In year endi.n g Dec. 31, 1896, ~oss, $326,840; net, $104,81:l; mt. and taxes, $6?,161; balance over mt. and taxes, $35,651. In 1895 gross, $324,960, net, $112,074. (lam.den & A.tlantlc KK.-SEE WEST JERSEY & SE.A. SHORE. I Cam.den & Burlington County KK.-Owns from Camden, N. J.' to Pemberron. N. J., 23 miles; branch, Burlington,N. J., to Mount Holly' 7 miles; total, 30 miles. Operated by the Pennsylvania Railroad' which guarantees 6 per cent on stock. In Feb., 1897, authorized $350," 000 of 4 p. c. gold bonds (mortgage trustee, Girard Life Insurance• Annuity & Trust Co., Phila.) to replace a like amount of 6s which ma· tured Feb. 1, 1897. Lease rental, $44,415. Stock, $381,925; par $25Dividends in Jan. and July. In 1896, gross, $242,504; net, $21,500; loss to lessee under rental, $22,915. fn 1895 gross, $248,783; net, $10,022; loss to lessee, $34,::J93. (V. 64, p. 373.) Canada Atlantic Ky .-Owns Ottawa, Canada, to Lacolle, Quebec, 138 miles, with bridge over St. Lawrence; trackage to St. Albans, 28 mileP; Lacolle to Alburgh Springs, Vt., 9½l miles, completed December, 1897. Leases for 99 years the Central Counties Ry., extending from Glen Robertson to IIawkesbury, 21 miles, and South Indian to Rockland, 17 miles. The Ottawa Arnprior & Parry Sound Ry., built in the interest of this company from Ottiawa to Parry Sound, 260 miles, was completed in December, 1896, but no bonds are expected to be issued thereon before 1899. Trustee of mortgage of 1889 is Farmers' Loan & Trust Company. STOCK, $2,000,000 common and $1,000,000 preferred. EARNINGS in year ending_ June 30, 1897, gross, $714,455; net, $242,019. In 1895-6, gross, $612,963; net, $187,459. In 1894-5, gross, $583,778; net, $178,104. (V. 59, p. 696, Ioo5; V. 63, p. 879.) C'anada Michigan & Ohlcago.-Bonds worthless. V. 63, p. 838. Canada Southern Rf.-( See Map New York Oentral cf Hitdson R. Railroad.)-ROAD-Main line from Suspension Bridge station, including the Cantilever Bridge to Windsor, Ont., 226 miles; branches t'l 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, ETC.-The COmJ?aDy was chartered in Canada February 28, 1~68, and debt read.justed m 1878. In Nov., 1882, a close contract was made with the Michigan Central for 21 years from January 1, 1883, providing for the payment to Canada Southern of one-third the joint income over all fixed charges. The contract provided for a re-apportionment every five years, and in December, 1892, it was agreed to give the Canada Southern 40 per oent 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 benelit from the reduction in its fixed charges; coo.sequently as the Michigan Central to Jan. 1, 1898, had reduced its charges about $327,000, that amount is credited to it before the division of earnings is made V. 64, p. 5. DIVIDENDS.- 1888 '89 '90 '91 '92 93' '94 '95 '96 '97 '98 Since 1887 ...... 212% 212 312 212 3 3 3 212 212 2 Feb.1% BoNDs.-Interest on the 1st mortga!5e is guaranteed by the New York Central till 1898 but the principal 1s not guaranteed. V. 56, p. 696. See V. 63, p. 188, as to currency in which bonds are payable. ANNUAL REPORT.-Advance figures for 1897 in v. 6='>, p. 1217; Canaaa So. share of earnings, $282,000; other income, $1,600; dividends, '¥300,000; bal. deficili for year, $16,400. In 1896 Canada So. share, $296,474; other income, $1,381; dividends, $337,500; balance, deficit ror year, $39,645. Total surplus Jan. 1, 1898, $3,152.-(V. 64, p. 5, 1086, I20Q 1 1225; V. 65, p. 121 '7.) Canadian Pacific Ky.-RoAD-Own a trans•contlnental railway from Montreal to the Paciftc Ocean made up as follows: Montreal to Vancouver ...... 2,905 Operated acct. or owners .... 776 Branohes and auxiliaries .... 1.351 Also controlled but op. sep.Leased lines ...........•...... 2,163 1fMinn. St. P. & Sault Ste. M.1,175 Used jointly.................. 5o 1fDuluth South s. & Atlantic 584 - - 1fDuluth Superior & W....... 112 Total in traffic returns ..... 6,476 flSee each co's statement. Orow's Nest Pass. Ry. -Subsidy of $11,000 per mile granted by Dominion Government to Canadian Pacific Ry. for construction from Leithbridge, N. W., to Nelson, B. C., 330 miles.-V. 64-, p. 1180. HISTORY, ETc.-Incorporated Feb. 18, 1881, under charter from Dominion of Canada, receiving $25,000,000 in cash as a subsidy, also 25,000,000 acres of land, all to be tit for settlement. rhe Ontario & Quebec, Montreal to Toronto Junction, 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. STOCK.-The company bought of the Dominion Government an annuity 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 issue of preferred stock must never exceed one half the common stock. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 $3,000,000 J_..&.. J. N.Y.,Bk.Mont., & Mont. 3,450,000 Worthless. 15,000,000 2 ili·isi:n F:·&·A. N. Y., Gr. Cent. Station. 13,925,000 J. & J. N. Y., Union Trust Co. 5 M.& 8. N. Y., Union Trust Co. 5,650,000 5 130,000 A. & O. Montreal, Bk. of Mont. 4 ~65,000,000 212in'97 A.. & o. N. Y., 59 Wall St. & Lon. 13,237,333 4 A. & 0. London, Co.'s Office. 1,823,333 5 &6 Various Montreal. 7,000,000 See text. A. & o. do 3,423,000 5 g. A. & o. Montreal,N.Y.orLond'n 34,998,633 5 g. J. & J. London, Baring B. & Co. 3,650,000 5 g. J. & J. do do 15,000,000 312g. J. & J. do do 46,055,870 4 J. & J. London, Comp'ys office. g. J. &D. N. Y.,59Wall&London g. J. & J. London, Baring B. & Co. A. & 0. do do 4 15J.&D. Can. Pac. office, London. J. & D. Montreal and London. J. & D. London, Morton, Rose. g. J. & J. Toronto and London. g. F. &A. London. J. & J. do g. J. & D. Dec., '93, coup. purch'd g. J. & D. do do g. J. & D. do do g. .A.. & 0. do do A. & 0. g. J. & J. Baltimore. See text. g. J. & J .. do do Jan:·5; ·i9o9 Feb: 1 ;•iJ°S,1% Jan. 1, 1908 Moh. 1, 1913 Oct. 1, 1945 Oct.I, '97,112 Oct. 1, '97, 2% 1899 & 1910 Mar.I, 1904·06 Oct. 1, 1931 July 1, 1915 July 1, 1937 July 1, 1938 Irredeemable. June 1, 193, Jan. 1, 1937 A~r. 20, 100, ee text. Dec., '97, 39(. Irredeemable. July 26, 2882 Aug. 1, 1934 Irredeemable. June 1, 1916 June 1, 1916 June 1, 1916 Oct. 1, 1919 Oct. 1, 1914 July )., 1920 Jan. 1, 1920 DIVIDENDS- }'83. '84. '85. '86·'89. '90·'93. '94. '95. '96. '97. Common p. c. 212 5 4 3 y'rly 5 y'rly 5 0 212 Below Preferred p.c. Issued in 1894. 4 p. ct. yearly (2 A. & O.) On common in 1897, April, 1 p. c.; Oct., 112 p. c.-see V. 65, p. 277. BONDS, DEBENTURE STOCK, GUARA..."ITEED BONDS, ETC.--In May. 1888, the company relinquished its exclusive right to&()perate in Manitoba lines to the international Boundary, receiving tlfe Dominion Government guarantee of interest on $15,000,000 of land bonds Thea& bonds are a lien on 15,444,200 acres of land subject only to $3,426,000 land grant bonds of 1881, which are redeemable at 110. For list of securities held against consolidated, debenture stock Dec. 31. 1896. see V. 64, p. 521. Canada Central 1st M. 5s mature Oct. 1, 1899, $850,000 outstanding; the 2d mortgage is 6 p. c. for $973,333, due Nov, 1, 1910. The Quebec Prooince 5 per cent loan, maturing in 1902 and 1904, was extended in 1894 at 4 120 per cent (average rate) payable in two equal instalments Ma,ch 1, 1904, and March 1, 1906. In June, 1890, company agreed to guarantee the principal and interest of $20,000,000 4 per cents, to be issued by the Duluth South Shore & Atlantic; also 4 per cent interest on bonds of the Minneapolis St. Paul & Bault Ste. Marie. (See V. 50, p. 874; V. 51, p. 239; V. 52, p. 608.) Of the Dul. 8. S. & At. console it owned Jan. 1, 1896, $14,976,000. To the Atlantic ti: Nortnwest Railroad, crossing_ the State of Maine, tile Dominion Government grants a subsidy of jj;l86,000 per year till 1906 and Canadian Pacifto guarant0'1s the balanoe of interest money. St. Lawrence <t Ottawa bonds are endorsed with the Canadian Pacifl.o's aoceptance of a 999 years' lease at a rental sufficient to pay 4 per cent interest oo. bonds, and the bondholders' agreement to accept interest at 4 per oent (instead of 6 per cent as formerly), and to refrain from demanding payment of principal during continuance of lease; the maturity of the bonds is June 15, 1910. The New Brunswick Railway consolidated debenture stock has interest guaranteed by C. P.; interest on the first mortgage bonds, though not ~ar. is naid out of rental under 990 year lease of 1890. LANDS.-Lands unsold Dec.31, 1896, were 16,195,440 acres of Canadian Pacific grant and 1,224,842 acres of Manitoba South Western grant and 188,112 acres of Columbia and Kootenay grant. Total sales in 1896 were 87,878 acres for $308,928; in 1895 were 61,076 acres. GENERAL FIN ANCES.-The stockholders at the annual meeting in April, 1897, authorized expenditure of $2,336,736 during 1897 for bridges, ballasting, terminals, equipment, etc. The stockholders also authorized the purchase or the Montreal & Western (70 miles- see v. 64, p 519) and the building of a line from Lethbridge to Nelson, 325 miles this line will give a connection with the Spokane Falls & Northern. In Oct.• 1897, $1,000,000 of 4 p. c. preference stock was authorized for completion of Crow'a Nest branch and other improvements; to January. 1898, only part had been delivered but the total preference stock authorized is $l3,237,333, as shown in table above. EA.RNINGS.-11 months, t 1897 .. Gross, $21,726,792; net, $9,250,321 Jan. 1 to Nov. 30. 51896 .. Gross, 18,755,726; net, 7,183,150 .A.NNuAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held ~t Montreal on the first Wednesday in April. The report for 1896 in full was in V. 64, p. 512,519. See also editorial p. 494. Year ending Dec. 31. 1896. 1895. 1894. Miles operated December 31.. 6,476 6,444 6,344 Passengerearnings ......••...• $4.820,143 $4,683,138 $4,840,412 Freight ......•................. 13,187,560 11,877,852 11,445,378 M:ail,expr'ssandmiscellaneous 2,673.894 2,380,047 2,466,377 'futal earn.illgs ...........•.. $20,681,597 $18,941,037 $18,752,167 Perot. of oper. exp. toearn'gs. 60·80 60·50 65·75 ~et earnings ......•............ $8,107,582 $7,480,952 $6,423,308 Interest received.............. 511,165 552,912 333,826 $8,618,747 $8,033,864 $6,757,134 Fixed charges................. 6,708,084 $6,659,478 $6,589,379 Contingent interest........... 203,890 ...... .. 694,487 Dividends................. . .•. 1,612,940 1,231,960 1,881,960 Balance .................. sur. $93,827 sur.$142,426 df.$2,408,692 -(V. 65, p. 277, 570, 823.) Cape Fear & Yadkin Valley Ky.-In operation from Wilmingoon, N. C., to Mount Airy, 248 miles; branches to Bennettsville, etc., 90 m.; total, 33 ➔ miles, of which 10 m. leased. Mostly 50-pound steel. RECEIVER.-Mar. 31, 1894, Gen. John Gill was appointed receiver. DeJree for sale of property as a whole made in June, 1897, but appeal from decree was heard Nov. 22, 1897, and the Court took the papers CV. 65, p. 102q); upset price $2,000,000. No date of sale set. COMMITTEES.-First MortgageBall'imrire Onmmittee-W. H.Blackford, W. H. Perot, John A.. Tompkins, Frank T. Redwood, Basil B. Gordon and J. W. Middendorf; depositaries, Mercantile Trust & Deposit Co. of Baltimore or Farmers' Loan & Trust ·co., N. Y. V. 58, p. 1034. First Mo1·tgage "Series A"-the New York Oommittee.-C. A. Low, George F. Baker and William E. Strong represent " Series A" bonds as distinguished from the separate and conflicting interests of "Series Band C."-V. 65, p. 515. REORGANIZATION PL.A.Ns.-The plans of the two committees were c,ompared in V.61, p. 1153, see also V. 61, p. 830 and V. 62, p. 39,232. The New York plan provides for a rental from the Southern Ry. equal to nterest on at least $1,500,000 bonds; the Baltimore plan suggests an JANUARY, 1898,] .RAILROAD STOCKS AND BONDS. 21 Subscribers will conf'er a great f'avor by giving illllllediate notice of' any error discovered In these 'J."a:ble■ • RAILROADS. I- - INTEREST OR DIVIDENDS. .i:,c.p,,,.,,,.-_c-J_J..1.L,1 - - - - - - - - - - - - -- - - - - - --, Miles Date Size, or Amount - - - - - - - - - - - - - - pal,When Due For explanation of column headings, &o., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-Last· onfirstpageoftables. Road. Bonds Value. _ _ _ _ _ , Cent. Paya.ble 1 Whom. Di~dend. 1 Oarolina Central-( Ooncluded)- 2d & 3d M. ($1,500,000 each), g., inc., non-cum.r 237 1881 $1,000 Income Porip issued for reduc-e.d interest on lsts. Wilmington Ry. Bridge, two mortgages guar.. .. 1893 ...... Oar. cl: Oumberl. Gap-Priorlien,our.,red atpar.o 24 1897 500 Oarolina Midlanct-.::-B. A. & N. 1st mortgage ...... o 1888 500 1st mortgage. $720,000..... ............. . ... ...... 1891 1,000 Oarolina cl: Northwest.-Chester & L., 1st mortgage .. .. . . 500 1st mortgage, $450,000 (see text)............. . . . . . . . 1897 Oarson&Oolorado-lstM.for$3,500,000,g.,s.f.o*&r 300 1892 1,000 Oarthage cl: A.dir.-lstM. $1,600,000 g .. gu.p.&i.c*&r 43 1892 1,000 Oarthage Water.cl: Sack.Har.-lstM. g.,gu.:p.&i.end. 29 1891 1,000 Oatasauqua cl: Fogelsville-Debs. ext., g., 88' & '93. 1878 1,000 Oatawissa-Pref.stooks,5%gu.P.&R.Ry. See text. 98 50 Mortgage bonds.·-································o 93 isfo 500 &o. 1st mortgage /morts. of 1862 extend. in 1882) .. r 1882 500 Imp. 3d M. bds., dep. by P.&R. under Subw.agree. 1894 Oatskill Mountain-First mortgage................. 16 1885 1st income bonds................................... 1885 ... . 30 Oayuga cl: Susq.-Stook, 9 p. o. rental D. L. & W.. . . 34 .... Oent. Br. U. P.-lst M. Atoh. & P. P. RR., gold ..... c 100 1865 1,000 Fund int. (mort.) bds. (coup. held in trust) gold.o 100 1879 1,000 2d mortgage (Government subsidy)............... 100 '66-7-8 1,000 Cent. of Georgia Ry -1st M.,$7,000,000, g.o·.izr. 312 1895 1,000 Consol. mortgage, $18,500,000, gold •........ o*&r 1,119 1895 1,000 MobileDivisionlstmortgage ($1,000,000) ... g.o* 124 1895 1,000 Macon & North. Div. 1st mort., $840,000. gold.o* 106 1895 1,000 Mid. Ga. & At. Div.1st M.,$9,000 p. m.,our.,.Gok Text. 1897 1,000 Eatont.Br.lstM.notguar.byCen.Ga.,g.,cailparl 21 1896 100 1st pref., incomes} Interest up to 5 p. o., c* . .. . 1895 1,000 2d do do ifearned, c* .... 1895 1,000 3d do do non-cumulative. o* . ... 1895 1,000 Cent. RR.&Bk.coll.trustbonds,go.,red.atllO.c' ·-·· 1887 1,000 $3,000,000 6 g. J. & J. 1910 & 1915 2lfl,200 5 If earned. . ..... . 200,000 5 A."&··o. .......... '98-'99 &1943 60,000 5 J. & J. N. Y., Atlantic Tr. Co. Jan 1, 1927 150,000 6 F. & A. Feb. 1, 1908 570,000 6 A. & 0. Oct. 1, 1931 100,000 7 J. & J. July 1, 1900 265,000 5 M. & N. 19~7 2,000,000 4 g. J. & J. In default. July 1, 1941 1,100,000 4 g. J. & D. Nf}w York City. Dec. 1, 1981 300,000 5 g. J. & J. N.Y.,Grand Cent.Stat'n July 1, 1931 135,000 6 g. J. & J. Philadelplua, Pa. July 1, 1898 See text. 5 M. & N. PhiladelphiaCo.'soffioeNov.19,'97,2¼ 1,300,000 7 F. & A. Phila.,Phil.&Read.Ry. Aug. 1, 1900 230,500 6 F. & A. do do Aug. 2, 1902 500,000 7 F. & A. do do Aug. 1, 1929 · 50,000 5 F. & A. C'sklll,N.Y., Tan.NI.Bk. Aug. 1, 1905 238,000 6 .. . . . Divid'd pd. Sept.10,'97. Aug. 1, 1915 589,110 9 J. & J. New York, 52 Wall St..Tan., 1898, 419 1,600,000 6 g. M. & N. Nov., '93, coup. last pd. See text. 630,000 7 g. M. & N. Nov., '93, coup. last pd. See text. 1,600,000 6 . . . . . U.S. Treas., at maturity. 1896-1898 7,000,000 5 g. F. & A. N.Y.GuarantyTrustCo. Nov. 1, 1945 16,500,000 5 g. M. & N. do Nov. 1, 1945 1,000,000 5 g. J. & J. do Jan. 1, 1946 840,000 5 g. J. & J. do Jan. 1, 1946 41~,000 5 our J. & J. do Jan. 1, 1947 168,000 5 g. J. & D. .......... 19,6 4,000,000 Up to 5 Oct. 1 Oct. 1, '97, pd. 214 p. o. Nov. 1, 1945 7,000,000 Upto5 Oct.1 NewYork,whenearned Nov. 1, 1945 4,000,000 Up to 5 Oct. 1 do do Nov. 1, 1945 4,880.000 5 ,z. M. & N. N.Y., Guaranty 'rr.Co. May 1, 1937 interest guaranty by the Seaboard Air Line on all the bonds to be is- I Jan. 1, 1896, $640,000 on Jan. 1, 1897, and $320,000 on Jan. 1, 1898. sued, i.e., $3,900,000, and an issue of $3,200,000 common and preSTOCK.-$1,000,000 (par, $100), of which Un. Pao. owns $874,200, ferred stocks. BONDHOLDERS' COMMITTEE.-A.. cl: P. P. First 6s and Oent Br. 7s.ANNUAL REPORT.-Fisoal year ends June. 30. For 1895-96 gross, Simon Borg, James M. Ham, Edward H. Ladd, Jr., and Gilmer Clapp $553,032; net, $85,022; rental, $6,276; taxes, $18.338; balance tor in- request deposits of bonds with Union Trust Co., N. Y. In May, 1896, terest charges (not paid) $60,408. In 1894-95 gross, $480,887; net, a majority of the bonrts, exclusive of Government holdings, had been $77,423. (V, 65, p. 515, 1,023.) deposited.-V. 62, p. 588, 908. Foreclosure pending. Carolina Central KK.-Owns from Wilmington, N. C., to RutherEARNINGS.-On 100 miles. 5 1897 ...... Gross, $558,897; net, $247,700 fordoon,N. C., 267 miles, of which 212 miles (the Wil. R. Bridge) owned Jan. 1 to Nov. 30- 11 mos. 1896 ...... Gross, 395,707; net, 180,049 Jointly. Sold in foreclosure May 31, 1880. Controlled by Seaboard & In year 1896 gross on the 100 miles Atchison & Pike's Peak were :Roanoke and Raleigh & Gaston. Capital stock, $1,200,000; par, $100. $445,921; net, $209,588. In 1895 gross, $344,770; net, $105,400. BONDS.-In August, 1894, the Seaboard Air Line guaranteed 4 p. o. For earnings of leased lines see Atoh. Col. & Pacific. (V. 65, p. 869.) per annum for 5 ye~rs. on the firsts, giving non-oum .. 5 ~· o. income Central oC Georgia Kailw-ay.-(See MapJ-System includes: scrip for the remainmg 2 p. o. V. 59, p. 331, 600. Wilmmgton Ry . .Bridge bonds were guaranteed by Carolina Cent., Wil. Col. & Aug. and Lines owned in fee. Miles. Lines leasedMilesWil. & Weldon; old 2d 15s (now lsts) mature $30,000 Oct. 1, 1898, and Savannah to Atlanta.········ 295 Southwe1stern of Ga. RR.$20,000 Oct. 1, 1899, and consol. 5s are reserved for them; $20,000 Go rd0 n to Covington.. ······· 82 I Macon to Eufaula ......• ,.. 144 oonsols also reserved for new draw for bridge, and $150,000 consols. Columbus to Birm'gham,Ala. 156 Fort Valley to Perry....... 12 outstanding Dec., 1897; oonsols. authorized, $250,000. Current liabil· Columbus to Americus....... " 2 1 Fort Valley to Columbus... 71 ities June 30, 1896 (net), $172,847. . Montgomery to Eufaula, Ala. 79 Smithville to Columbia.... 85 Columbus to Greenville, Ga. 50 Cuthbert to Fort Gaines .. _ 20 EARNINGS.-ln year ending June 30 earnings have been as follows: Opelika to Roanoke.......... 361 Augasta & Savannah RR.Gross. Net. Oharges. Balance. Eufaula to Ozark............. 60 Millen to Augusta.......... 53 1895·96 ............ $587,695 $185,138 $117,082 sur. $68,056 Griffin to Carrollton.......... 60 Propr'y Line-Upson Co.RR. 1894·95 ............ 508,001 94,758 113,642 def. 18,269 Savannah to Tybee........... 18 Barnesville to Thomaston.. 16 -(V. 58, p. 1109; V. 59, p. 28, 228, 331,, 600.) Columbus to Searight........ 122 -Carolina & CuIDberland Gap Ky,-Aiken to Edgefield, s. c., Macon to Athens............. 1021 Total operated ............ 1,523 24 miles. A reorganization Jan. 1, 1897, of the Carolina Cumberland - - Ocean Steamship Company, Gap & Chicago foreclosed. Capital stock, $340,000; par, $lOO· ~ a l owned (and oper'd)* .1,122 estimated equivalent of.... 300 Mortgage is for $210,000 currency bonds securing $60,000 prior lien • ln addition owns in fee Meldrim to Lyons, 58 miles, now leased to 5s anri $150,000 income bonds; bonds are subject to call at par. Georgia & Alabama RR., making total mileage owned, 1,180 miles. Trustee, Atlantic Trust Co., New York.-(V. 62, p. 1176; V. 64, p. 81.) ORGANIZATION-Organized Oot.17, 1895, and Nov. 1 succeeded to the uaroH.na lllldland. Ky.-Owns road in operation from Allen properties of the Central Railroad & Banking Co. of Georgia, sold in dale, S. C., to Severn, S. C., 55 miles. Stock, $540,000; par, $100. foreclosure and reorganized per plan in V. 60, p. 1008 and V. 61, p. 68. Road was leased January 17, 1896, to the Greenwood Anderson & Middle Georgia & Atlantic (Milledgeville to Covington, Ga., 65 miles) Westnn Ry., but on March 4, 1897, the lease was surrendered and was purchased Jan. 1, 1897. V. 65, p. 324; V. 62, p. 456; V. 64, p. 8Z, the Midlan,1 turned over to its officers. Earnings.-Jan. 1 to June 30, 180. As to rights m lease of Georgia RR., see V. 65, p. 924. 6 months, gross, $24,519 in L897; $22,360 in 1896.-V. 63, p. 154,357. STOCK.-$5,000,000, held by interests friendly to Southern Ry, Carolina & Northw-estern Ky.-Narrow gauge road from BONDS.-Thefirstmortgage of 1895 (described in V. 63, p. 1160) is Chester, S. C., to Lenoir, N. C., 110 miles, of which 10 miles is trackage. a fi1•st lien on the main line from Atlanta to Savannah, includmg the A reorganization February 28, 1897, of the Chester & Lenoir, sold in Milledgeville branch (312 miles in all), all equipment and apyurten• foreclosure. Capital stock, $350,000; par $50. For year enoing anoes and the equity in $1,995,000 of the capital stock of Ocean Jan. 31, 1897, gross, $98,565; oper. expenses, taxes and betterments, Steamship Co. of 8avannah. Trustee, Guaranty Trust Co. of New York. $70,552; net, $28,013. President, G. W. F. Harper. (V. 64, p. 180). Application for listing firsts and oonsols. on N. Y. Stock Exchange Carthage & Adirondack Ky.-( See Map N. Y. Oentral.)-Owns was given in full in V. 63, p. 1160. from Carthage to Newton Falls, New York, 46 miles. The entire stock, The consolidated mortgage (see abstract in V. 61, p. 873, also see $500,000, is owned by the New York Central RR., which in April, V. 63, p. 1160) is a first lien upon 580 miles [including former 1893, leased the property in perpetuity and guaranteed its $1,600,000 Mont. & Eufaula RR., Aav. & Western and Sav. & Atl.]; also on bonds, of which $500,000 were for extensions, etc. (V. 57, p. 218.) the leases of the South Western and Augusta & Savannah roads and tJarthage Watertow-n &; Sack.en>s Harbor KK.-(See Map the stock of New England Steamship Co., and a second lien upon the N.Y. Oentral.J-OwnsfromCarthagetoSaokett'sHarbor,N. Y., 29miles. main line; its equipment, etc., and also on the Macon & Northern and Controlled by N. Y. Central, which owns $483,300 of the stock and Mobile & Girard. It also covers all leaseholds, securities, etc. It may guarantees the bonds. Leased to R. w. & o. for 3712 p. c. of gross be increased $2,000,000 from $16,500,000 to $18,500,000, at the rate earnings. Rental in 1896-97, $36,083; in 1895-96, $37,421. Capital of not more than $500,000 in any one year, for betterments and for stock $465,845 common and $21,500 preferred. equipment. The consolidated bonds are the only fixed charge obliga• tion covering the entire system. Trustee, Mercantile Trust Co. of N. Y. Cataw-issa RK.-Owns from Tamanend, Pa., to Williamsport, Pa., Mobile Division bonds are direct obligations of the Central of Georgia 93 milesz and branches. 10 miles. Re•leased Dec. 1, 1896, for 999 years Ry., secured by a first lien on Columbus, Ga., -to Searight, Ala., 122 m. to Philaaelphia & Reading Railway. Rental, interest on the bonds, 5 Macon & Northern Division bonds are also direct obligations of the p. o. dividends on the preferred stock, all tax.es, and $8,000 for Central Ry., with rlrst lien from Macon to Athens, Ga., 105 miles. organization expenses. Bee also V. 63, p. 969, 1116. Of the preferred lliddle Georgia & Atlantic Division bonds are i~sued at $9,000 per stocks in 1896 $2,200,000 was first prefened and $1,000,000 second :nile, of which $8,000 was for purchase of road and $1,000 retained preferredandoommonwas$1,159,500;oar$50. Preferredstookmaybe by Cent. of Ga. for betterments; subject to the Eatonton Branch issued for betterments and improvements. Besides bonds as in table bonds, $168,000 on 21 miles, the firsts of 1897 cover the 65 miles of are deposited under the Reading Co.'s general mortgage: Chattel mort• M. Ga. & At. Division. (V. 65, p. 823; v. 64, p. 180; v. 65, p. 324.) gages, $122,950; debenture 7s of 1917, $62,0.0 0.-V. 63, p. 924, 969. The J?reference income bonds, subject to the prior mortgages, cover · Catskill Mountain Kailw-ay.-Owns narrow-gauge road from the mam line a.nd the former Savannah & Western, Columbus & Rome., Catskill, up the Catskill Mountain, to Palenville, N. Y., 16 miles; leases Montgomery & Eufaula, Mobile & Girard, Macon & Northern ana Cairo RR., Cairo Junction to Cairo, N. Y., 4 miles; total, 20 miles. Savannah & Atlantic RRs., and their equipment, etc.; also all Stock, $89,000. There are also second incomes for $15,600 6 p. o. leaseholds, securities and equities of properties aoqmred by the new First incomes have one vote for each $100. EARNINGS.-Year ending company. The;y are non-cumulative and bear interest not exceeding 5 June 301 1897, gross, $50,016; net, $16,140; interest, taxes, etc., per cent in any one fiscal year, but payable only out of net earnings $9,613: mterest paid on 1st incomes (1 ·86 p. c.) $4,430; balance (un- as declared and secured by the deed of trust. On 1st pref. incomes collected) $2,087. In 1895-96 gro3s, $56,986; net, $16,577; surplus paid 1¼ p. o. in Oct., 1896, and 214 p. o. Oct. 1, 1897. V. 65, p. 410. over charges, $10,581; dividena on 1st incomes, $1,344. Ootlateral trust mortgage abstract was in V. 45, p. 242. Cayuga & Susquehanna RR.-Owns from Susquehanna River LATEST EARNINGS.-5 mos.! 1897 .. Gross, $2,463,560; net, $953,390 to Ithaca, N. Y., 34 miles. Leased during length of charter and renew• July 1 to Nov. 30. ~ 1896 .. Gross, 2,344,431; net, 860,93~ als thereof to the Delaware Lackawanna & Western at a rental of ANNUAL REPORT.-Fisoal year ends June 30. See report for 1896-7 $54,600 a year. On Dec. 30, 1897, the corporate existence of this in V. 65, p. 324 ,and balance sheet sheet V. 65, p. 616. The net income company was extended for the period of 50 years from Jan. 1, 1900. $315,964 was placed to the credit of profit and loss. Cedar Falls & Minn. KR.-Merged in Dubuque & Sioux City. Years end. Jtt'l'l,e 301897. 1896. l,4fi6 Central Branch U:i.tionPacifl.c. Ky.-vwnsrrom Atchison, Kan. Average mileage ...... ····· ······ ······ ···· •· • • •· •· $5,508,405 to Waterville, Kan., 100 miles; leases Atchison Colorado & Pacific, 255 Gross earnings ... ········· ····················$5,280,696 3,605,466 miles; Atchison Jewell County & Western, 33 miles; total, 388 miles. Total operating expenses .. ······ ........... 3,271,f'l94 180 , 968 160,194 ORGANIZATION.-Leased to Missouri Pacific for 25 years from Sept. Taxes ................................... ······· $1,742,744 30, 1885: rental, net earnings. Accounts payable Jan. 1, 1897, Net earnings from operation .. •········ •·····$1,828,134 412,272 $2,870,676; interest on Government loan accrued and unpaid Jan. 1, Prom steamships, etc.·••····•· • •••··••·•••••• 329,807 1898, $2,161,934; prinoipalis $1,600,000, of which $640,000 was due Total ....••.....•........................... $2,157,941 $2,155,017 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis c I I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C ~ ~ t:z:j r/.l ..; 0 ~ ~ r/.l , "r C) ~ ~ ~ OF THE ~ 0 1-'d 1-'d ~ ; ?' JANUARY, RAILROAD STOORS AND BONDS. 1898,j 23 Sub8crlber8 "Will confer a great t'avor by giving Im.mediate notice ot' any error dJ9covered In the8e Table8. RAILROADS. .Por explanation of column headings, &o., see notes on first page of tables. INTEREST OR DIVIDENDS. Bonds-Pr1no1 Miles Date Size, or Amount - - - - - - - - - - - - - - - - - pa.l,When Due• of of Par Outstanding Rate per When Where Payable, and by Stocks-La.st Road. Bonds Value. Cent. Payable Whom. Dividend. ------,-,--- - - ----,------,---- - - - Central of Ga. By, (Oon.J-Guar. etc., securities. 1890 $1,000 Ocean 88. Co. 1st mortgaiie, gold, guaranteed... c 100 Augusta & Savannah stoc.k: (no bonded debt)..... · 53 100 Southwestern of Georgia stock (no bonded debt) 332 100 OentraZ Massachusetts-Pref. stock (see text) ...... . 1,000 1st mortgage ....•...................••.........•• o"" ·99 1,000 New bonds, $500,000.............................. 99 1895 1,000 Central N.Y.<I Western-1st mort. $1,000,000, g .. o* .... 1892 Central Ohi<>-Stook ($411,550 of this is preferred). 50 1,000 Con. 1st M. (for $2,850,000) now 1st lien, gold •. c i'37 100 Central Pac-iftc-Stook for $68,000,000... .. . .. . . . . ... s·isi35 1,000 1st mort., ser. A, extended, call, gold .... t 5 Ser. B, C, D, extended. call, gold .. . .... 5 See { 140 <1866 1,000 Series E, gold, extended, 1897, 5s, call t text. 5 598 51867 1,000 { 1868 1,000 Series F to I, incl., gold, subject to oall 5 { 1,000 lstM. 8.JoaquinVal.Br.,g.(s.f.)notdrawn ...... 146 1870 U. 8. Loan (2d lien).............................. . .. 737 1865 do do •........................... . .... 737 1866 do do ......................... . ....... 737 1867 do do ............. . ................... 737 1868 do do . .............. . ....... . ......... 737 1869 West.Pao., San Jose to Brighton, Cal., series A, g. 123 1869 1,000 do series B, 1st M., to Oakland, gold..... 24 1869 do Government lien, gold.................. 123 1867-9 Cal. & O. 1st M., ser. A, g. (exte'd) <s. f. yearly, 296 1868 1,000 Do do ser. B, g. (exte'd) 5not drawn.. 296 1872 1,000 Land grant 1st M., gold, guar., extended in 1890. . .. . 1870 1,000 Mort. gold 6s, 1936, ld. gr. s. f., not drawn....... . .. . 1886 1,000 Mort. gold, 5s, 1939, ld. gr.,guar., s. f., not dr'n.o 1,a60 1889 1,000 Cent. Pa. & West'n.-Wilkesb. & West., 1st M., g.~* 31 1886 100 Cent. BB. of N. J.-Stock ($30,000,000 author) .. 1,000 Bonds.1. secured by consolidated mortgage of 1874 ... . i872 1,000 Consoudated mortgage (now first mortgage) ... o* . . . . 1874 iss6 iss·6 i:<>oo i:o·oo I DEDUCTIONS FROM INCOME FOR YEAR 1896-7. Interest on fundeddebt$1,523,900 Tota~aeatiot'sfrom inc.$1,~41,9~7 Rentals, etc............. 318,077 Net rncome. ..... ... . .. . ;:s15,964 OFFICERS.-President, H. M. Comer, savannah, Ga.; Vice·President, John M Egan -(V 65 p. 150 151 324 327 410 616 823 924.) · · ·' ' ' ' ' ' ' ' Central lliassac~usetts KK."':"'Owns North Cambridge to Northampton1 Mas~., 99 miles. The stock 1s $7,419,202 (par $100), _o f which $3,94~,.1_02 1s preferred and controls the . company until 8 per cent dividends shall have been earned thereon rn any one year. DIVIDENDS -On settlement with Boston & Marne n dividend of 112 p. c. was declared onr,,referred in 1895 and paid in Jan., 1896; June, '96, paid, p. o.; Dec. 96, ~ p. c.; in '97, 119 p. c. Leased to Boston & Lowell for 99 years .from October 1, 1886, at a rental of 20 per cent of gross earnings up to $1,000,000, but with a guaranty of sufficient rental to pay interest. For year ending March 31, 1897, gross earnings $830,975; in 1895·9 6, $788,177 .-{V. 61, p. 1106.) Centl."al New York & We8tern KK.-ROAD-Belfast, N. Y., to Perkinsville, 41 miles; branch to Hornellsville, 11 miles; Angelica, N. Y,, to Olean 40 miles; total, 92 miles, standard gauge, of which only 63 m. in operation. Successor to Lackawanna & Southwestern, foreclosed. Stock $1,000,000; par $100. On June ao, 1896, bills pay. able$59,540; open acots., $123,954. Ca sh $7,602; acots. rec., $8,9'41. EARNINGS-For year ending June 30, 1897, gross, $73,933; net $6,639; interest, $12,710; bal., deficit for year, $6,071. In 1895·6, gross, ;t,70,683; net, $9,837.-lV. 63, p. 399.) Central Ohio KK.-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. Looses of Columbus & Cincinnati Midland and Sandusky Mansfield & Newark were assumed by B. & O. On June 30, 1897, the B. & O. owned $376,850 Cent. Ohio common stock. LE.ABED to Baltimore & Ohio till 1926, with option of renewal; rental, 35 per cent of gross earnings, with minimum guaranteed of $166,000. In 1896 Court ordered net earoing-s applied to interest on bonds.See v. 64, p. 82, 133, 180. Separate receiver was applied for in Dec., 1897 by stockholders committee.-V. 66, p. 38. STOCKS AND BONDS.-Stockholders' Oommittee.-Basil B. Gordon, J. H. Rieman and w. H. Conkling.-V. 64, p. 180. Circular issued to stockholaers by Central Ohio directors was given in V. 64, p. 523, giving the C. 0. earnings a nd report or stockholders, Committee in Oct. 1897, in V. 65, p. 778. Bee V. 64, p. 566, 778. See description of mortgage, etc., on p. 6 or INVESTORS' SUPPLEMENT, April, 1896. Sept., 1897, coupons were paid when due.-V. 65, p. 410. DIVIDENDS from 1882 to Jan. 30, 1896, 6 p. o. yearly; none since. EARNINGS.-In 1896·97 gross, $1,226,528; net, $133,892; rental, (paid only in part by lessee), $429,285; taxes, etc., paid by lessee, $43,284; bal., loss to lessee, $381,961. In 1895-96 gross, $1,199,104; net, $152,985. (V. 65, p. 410,778, 974; V. 66, p. 38.) Oentral Pacific KK.-( See Map of Southern l'aciflc.J-ROAD. Lines owned,Miles. Miles. Ban Francisco, Cal., to near Branches to San Jose, etc.... 35 Ogden, Utah................ 872 TrackageLathrop, Cal., to Goshen, Cal. 146 Northern Ry,, Main Line..... 6 Roseville Junction, Cal., to Union Pacitto into Ogden.... 5 Oregon State Line.......... 296 Total ...•.....••••••...••.... 1,360 LE.ASE.-In March, 1885, leased to Southern Pacific Oompany. In Dec., 1893, lease was so ohan~ed 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 Pacifl..o that the Central Pacific shareholders should receive a minimum dividend of 1 per cent, guaranteed by the !::lo. Pac.-the first payment -0f 12 of 1 per cent to be made on July 1, 1895.1 and the second payment Jan 1, 1896. That the same rate of dividenas shall be continued until satisfactory legislation has been obtained for the adjustment of the -debt to the Government, when the dividend will be increased to 2 per tent for a guaranteed period of two years. (V. 60, p. 1144.) London Stockholder"i! Oommittee. -F. G. Banbury, J. B. Akroyd, Alwyne Compton, Daniel Marks, R. D. Peebles, Jos. Price. V. 65, p, 410, 570. N,w York Stockholders' OommiUee.-Chairman, August Belmont: J. G. Carlisle and George Coppell; depositary, Central rr:rust Co., N. Y.; V. 60, p. 728, 1172. The New York and London committee will act in harmony. Jlirst Mortgage Oommittee.-See Speyer & Co., 30 Broad St., N. Y. A majority of these bonds depo:1ited.-See V. 65, p. 778. Oommittee Gold 5s of 1939.-Sneyer & Co., New York; Deutsche Bank m Berlin and Teixeira De Mattos Bros., in Amsterdam.-See V. 65, p. 665. SUBSIDY.-Interest is not payable on subsidy loan till the bonds mature, but the "Thurman" act provides for payments yearly to the sinking fund. See V. 50, p. 276. Jan. 1, 1898, principal due Govern· ment on C. P Joan was $25,885,120; interest, $35,852,719; on Western Pacific loan, principal, $1,970,560; interest, $3,304,552. Bonds in U.S. sinking fund July 1, 1897, $437,000; cash untnvested, $6,907,968. There are considerable claims against U. 8. for transportation on nonaided lines. See V . 65, p. 1113.f https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I _________ ,______ 5 g. J. & J. N.Y., Guaranty Tr. Co. July 1, 1920$1,000,000 1,022,900 5 J. & J. Savannah, Ga. Jan., '98, 2¼% 5,191,100 5 J. & J. Savannah and Macon. Jan., '98, 214% 3,949,102 1¼ in '97 . . . . . Boston, 53 State St. Dec. 1,'97, ~%2,000,000 5 A. & 0. Oct. 1, 1906 100,000 5 A. & 0. Boston Office & Int. Tr. Oct. 1, 1906 242,000 5 g. J. & J. Boston, 53 State St. Jan. 1, 1948 2,860,628 . ..... J. & J. NewYork,54 Wall St. Jan., 1896,3o/o,. 2,500,000 412g. M. & 8. Sept.,'97, pd. when due. Sept. 1. 1980 67,275,500 1 J. & J. N.Y.,8.Pac.Co.,23Br'd. Jan.3,'98,12% 2,995,000 5 (6) g. J. & J. do do Dec. 1, 1898 3,383,000 5 (6) g. J. & J. do do Dec. 1, 1899 3,997,000 5 (6) g. J. & J. do do June 1, 190015,508,000 5 (6) g. J. & J . do do June 1, 1901 6,080,000 6 g. A. & 0. do do Oct. 1. 1900 2,362,000 6 g. J. & J. United States Treasury. Jan. 16, 1895 1,600,000 6 g. J. & J. do do Jan. 1, 1896 2,112,000 6 g. J. & J. do do Jan. 1, 1897' 10,614,120 6 g. J. & J. do do Jan. 1, 1898 9,197,000 6 g. J. & J. do do Jan. 1, 18991,970,000 6 g. J. & J. N.Y.,8.Pao.Co.,23Br'd. July 1, 1899 6 g. J. & J. do do July 1, 1899765,000 1,970,000 6 g. Various United States Treasury. 1897 & 1899 5,982,000 5 g. J. & J. N.Y.,8.Pao.Co.,28Br'd. Jan. 1, 1918 4,358,000 5 g. J. & J. N.Y.,8.Pao.Co.&London Jan. 1, 1918 5 g. A. & O. N. Y.,So. Pac. & London. Oct. 1, 1900 2,399,000 56,000 6 g. A. & O. do do Oct. 1, 1986 5 g. A. & O. N. Y. & San Francisco. Apr. 1, 1939 12,283,000 5 ,z. J. & J. July,'94, int. to bead.j'd. July 1, 1926 620,000 22,497,000 414 in '97 Q.-F. N.Y.O:ff., 143 Liberty St. Feb. 1, '98, 7 M. & N. N. Y., Liberty Nat. Bk. Nov. 1, 190.., 1,167,000 ::J.836,000 7 Q.-J. do do July 1, 189S1 l9k nIVIDENDs- i 1888·'93. 1894. 1895. 1896. 1897. 1898. Per cent. 5 2 _Yearly. None. 12 _1 1 Jan., 12. BONDS.-Of thefi1•st mo1·tgage 6s of r86,·8, 8errns A. to D, aggregating $6,~78,0_00, cover .the road ~nd franchis~s fr~m Sacramento to theCahforma State line, 140 miles, 3:nd Rer1es .E to I, agfsl'egating $19,· 505,000,covertheroadandfranchisesfromtheStateLrnetofl.vemiles, west of Ogden, 598 miles. These bonds have all been extended (under agreement in V. 65, l). 41 O,) until d ates shown in table above at 5 p. o. interest, principal and interest payable in gold; extended bonds to be subj ect to call at par, but if called interest to be adjusted!. at 6 p. c. from Jan. 1, 1898. See extension contract, etc .• in V. 65, P ► 410. The bonds themselves are deposited with Speyer & Co., N. Y. ,. until June 1, 1901, to f acilitate an adiustment of the Government claims, but the firm's certitlcates of deposit are listed on the N. Y. Stock Exchange.-V . 65, p. 82J. .rhe 5 per cents of r88o are guaranteed, principal and interest, by theSouthern Pacific Company; the mortgage 1s for $16,000,000, the Metro• poli~u. Trust Co. of New York bein~ trustee. (V. 49, p. 340.) Speyer & Co. receipts for 5s of 1939 were listed on Exchange in Dec., 1897. See agreement in V. 65, p. 1113. The land grant .5s of r900 carry the Southern Paoitic's guaranty of principal and interest. See V. 65, p. 665The total holdings of the sinking funds on Jan. 1, 1897, exclusiveof the land grant fund-which see below-were $10,189,000 par value, including $2,035,000 So. Pao. of N. M. 1st 6s; $2,644,000 Southern Pacifl..c Co. Steamship first 6s; $1,788,000 Guatemala Central RR. first 6s; and in addition cash and coupons due Jan. 1, 1897, $460,436. LAND GRANT.-Total land grant was about 12,000,000 acres, of whio.b about 2,840,000 acres had be0n sold to December 31, 1894. Sales in 1896, 38,644 acres; cancellations, 17,979 acres. Land contracts on hand Jan. 1. 1897-uncompleted payments , $184,058; principal of deferred payments, $853,064; interest on deferred paymente, $509,524. EARNINGS.-11 months, t 1897 .. Gross, $13,~31,653; net, $5,581,314 Jan. 1 to Nov. 30. 51896 __ Gross, 11,008,340; net, 4,419,839 ANNUAL REPORT.- -Fiscal year (since 1896) ends June 30. Abstract , of report for year ending- June 30, 1897, was given in V. 65, p. 865, 878., showing gross, $12,639,711; net, $4,990,813, against gross $12,698,114 and net $4,682,152 in 1895·96. Charizes, etc., are shown for the sw months since the last report. For the calendar years results were : Year ending Dec. 311896. 1895. 1894. Gross earnings ................. $12,527,084 $13,045,657 $13,118,2450perating exp., t axeH, rents ... $8,3n5,n9-1 $8,760,489 $8,723,238 Interest on funded debt........ 3,294,150 3,333,102 3,353,92€> Sinking fund requirements . ... 235,000 235,000 185,000 United States requirements.... 644,574 648,390 599,701 Betterments and additions.... 146,492 237,354 111,787 Total. •••••.............•.... $12,675,81 o $13,214,335 $12,973,652 Bal. after charges for year..... df.$148,726 def. $168,678 $144,593 -(V. 65, p. 665,728,778, 823,865,869, 8'78, 1113, 1172.) Central Ky. oC New Jlruns-wlck.-See V. 63, p. 116. Centl"al KK. oCNe-w .Tersev.-(See MapJ-ROAD-Operates from Jersey City, opvosite New Yorli City, westerly to Wilkesbarre and Scranton, Pa., and the neighboring anthracite coal :fields; also southerly to the seashore resorts along the coast of New Jersey, etc.: Lines owned in fee. Miles. Lehigh & Susquehanna, PhilJersey City to Phillinsburg •••• 72 lipsburg to Union Juno., etc. t .174 Sundry branches .... ·. ..•.... •• • 83 Wilkes barre & Scranton ,r..... 5Entire stock owned. Lehigh & Laokawanna,r ..•• _.. 35 Long Branch & Seashore....... 6 Other lines...................... 9 New York & Long Branch RR., Allentown Term. Coper.jointly) 3 Perth Amboy to Bay Head.. 381 TrackageNew Jersey South'n RR., Long Union Coal RR .......•..•...... 10. Branch to Atsion, etc ........ 78 Pa. Pough. & Boston .. _ ..••..• 2 Other lines (no debt) ....••..... 138 I Tresckow Branch.............. 5Leased (mostvyfor999yrs.J Miles., Ogden Mine RR. ,r •...•••••••••• 10 Total operated Jan. 1, 1897•• 685, Nesquehoning Valley ,r •••• •• •• 17 --,rs"ee this company. 1 Bee Lehigh Coal & Nav. in "Misc. Companies," There are 261 miles of second and 30 miles of four tracks. With theBalt. & Ohio and the Phila. & Reading operates the "Blue Line" between Washington and the Southwest and New York, the B. & 0. tracks being used to Philadelphia, the Reading to Bound Brook and the Central N. J. to Jersey City. HISTORY.-Chartered in 1849. From Hay, 1883, to Jan. 1, 1887. leased to Philadelphia & Reading. Receivers were in possession from Jan. 1, 1887, till January, 1888. Reorganized in 1887 without foreolosur~ee plan V. 44, p. 714, 716. Operated. from February to August, 1892, under lease by Port Rea.ding RR. Co. Dividends were resumed August, 1889. Concerning coal properties see Lehigh & Wilkesbarre in" Miscellaneous." DIVIDENDS.- 5 '89. '90. '91. '92. '93. '94. '95. '96, '97. '98. Percent. { 3 6 612 7 · 7 7 5¼ 5 414 Below. In 1897, Feb., 114 p. c.; May, 1 p. c.; Aug., 1 p. o.; Nov., 1 p. c.; in 1898, Feb., 1 p. c. BoNDs.-New Jersey Southern 6s carry the endorsed guaranty of the New York & Long Branch. Central N. J. general 5s are reserved to retire them at maturity. Totalissue $1,500,600, all but $411,000 being held under the Central's ~eneral mortgage. INVESTORS' SUPPLEMENT, Z iVOL, LX.Vl. ~Porte z https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND CONNECTIONS. JANUARY, RAILROAD STOCKS AND BONDS. 1898. l Snb8crlber8 -will conf'er a great f'avor by glvln,t hnmedlate notice of' any error d18covered In the8e Table•• Bond8-Pr1no1 INTEREST OR DIVIDENDS. RAILROADS. Due. Miles Date Size, or Amount Rate £.er When Where Payable, and by pal,When Stocks-Last Fer explanation of column headings, &c., see notes of Par Outstanding of on first page of tables. Dividend. Cen . Payable Whom. Road. Bonds Value. Central Bailroad of New Jersey-(Ooncl'dJConvert. debentures, convert. into stock till 1907 Long Br. & Bea Shore 1st m .• Highl'ds to L. Br.c• N. J. Bo. 1st M., L. Br. to Atsion,etc.(assumed).c* Cent.RR.of N .J., Gen. mort.for $50,000,000,g.,c&r Real estate bond and mortgages ..•..........•.. G'Uaranteed Bonds- Am.Dock&Imp.Co.lstM.,gu.,redeem.atll0... c· N. Y.&L'gBr'hlstM.,red.rn 1899 atll0,gold. .. c* Hen. M., for $2,500,000, g.,P.Amb.to B.Head.c* Oenfrat RR. of Pennsylvania-Bonds, $1,200,000 .. ue·u tral ~ South Oarolina-lst mortga~e, fold ... c Oentral ermont-Consolidated RR. of t. st M ... <lent. Vt. 1st consol. M. f'lr $15,000,000, gold.c&r EquipmeDt bonds, gold, drawn at 100 Jan. 1. .... NEW SECURITIE TO BE ISSUED UNDER PLAN1st mortgage. $10,000,0011 gold. tratftc guaranty 2d (adjust.) M. incomes. (text) "A" $1,050,000,g. do "B," $3,000,000, no trattic guaranty .... . Oentral Washing,on RR.-lst mortgage, gold . . c*&r ventralia d: Oheste1·-Receiver' ctfs., $200,000 ... 1st mortgage, $12,000 per mile, gold .......•••. c* Oharl. Olend.d: Sut.-lstM. g .. $30,000 p. m. W.P.c* Oharleston d: N01·theni-lst mortgage (see text.) .. 11,a,rteston d: Savannah,-General mortgage, gold.c~ 1st and 2d pref. inc., $1,000,000 each, non•cum .. Ohurl. d: West. Oar.-lst M., g. ($8,000 p. m.) C .c*&r Income M. , g., non-cum., ($7,000 per mile) G .. c* - - - - · ---1883 $1,000 ...6 1869 1,000 1879 1887 .- --· ..... 600 fiO0&c. ....... ·ss 38 1881 1882 1891 1,000 1,000 1,000 4 ,987,000 1,500,000 192,000 ·40 issi 1883 1,000 l00&c. 1,000 1,000 300,000 7,000,000 Bee text. 375,000 ...... . ..... 189~ ...... 1898 1898 '1888 1,000&c 5,9no,ooo 1,050,0(10 3,000,000 1,750,000 ..... 1894 78 All. 185 .... 1892 ---- ---· .... ---108 ---94 ---- isso ---- 103 1886 103· 1886 ..... 1896 .... 1896 Oh.artiers-8liock .. .... •...... ...... ........... ....... 1st mortgage, guar. p. & i. by Penn. RR ....... .. c 23 Ohateaugay RR.-Stock ..... ... ............ . ......... .... ,r On coupon bonds J &J; on registered bonds Q.- J. ---- 0 1871 .... ------ ----------1,000 1,000 i:ooo 1,000 1,000 1,000 50 1,000 100 Of the general mort. of r887 (see abstract of mort. V. 45, p. 402) $6,· 086,000 on Jan. 1, 18~8. were reserved for the prior Cent. N. J. bonds and also for the followmg: N. J. Southern 6s, $411,000; Long Branch & Seashore 7s $1H7,000. All the old bonds, it will be noticed, mature within a few year@. General mortgage trustee is the Central Trust Co. See Neio York d: Long Branch bonds in SUPPLEMENT of Jan., 1897; during 1897 $50,000 general 5s were issued for improvements. GENERAL FINANCEe, &c.-The $2,310,000 Lehigh C. & N. 6s assumen were paid Dec. 15, 1897, general 5s having been sold therefore. V. 65, p. 1114, 1219. ln May, 1897, Presidt>nt Maxwell stated , egarding the floating debt that "the Lehigh & Wilkesbarre Coal Co , excepting $375,000 borrowed ruoney, haM no floatin&? debt other than that due the Central RR. Co. of New Jersey. The Centr:Ji RR. Co. or New Jer· sey has $1,100,000 borrowed money. The two companies have coal on hand, coal accounts, cash in bank and cash items in excess of both the above•named amounts."-V. 64, p. 1041. EARNINOS.-11 months, t 1897 .. . Gross,$11,635,165: net, $4,512,853 January l liO Nov. 30. 51896 ... Gross, 11,634,355; net, 4,366,150 .ANNuAL REPORT-Annual meeting is held on Friday next preceding second Monday in May. The report for 1896 was in V. 64, p. 283. Year ending Dec. 31. 1896. 1895. 1894. Passenger and freight ...•.... .. $6,655,177 $6,766,535 $6,347,239 Anthracite coal................. 5,381,111 5,727,229 5,273,822 Mail, express, etc............... 543,162 505,064 490,9:'>5 N.Y.&L.B.Division... ....... 465,0L7 476,762 458,440 Trackage........................ 72,88-! 92,434 89,485 Total gross earnings .•• ..... $13,117,350 $13,568,024 $12,659,941 Net over expenses and taxes .. $4,798,782 $5,272,969 $4,221,637 Income from 1nvestments .... l 840 ' 440 773 ,456 l5 $530,126 Premium account.............. 5 183,150 Lehigh & Wu.ks. coupons...... t428,120 t428,120 1428,120 Totalnetincome ..•....•..•. $6,067,342 $6,474,545 $5,363,033 Interest on debt................ $3,030,029 $2,955,166 $2,873,589 Rentals paid.................... l,6-U,048 !,691,091 1,557,856 Dividends.........•............. (5)1,124,850 (5).1,124,850 (7)1,574,790 Balance ................... sur. $271,415 sur. $703,438 def. $642,702 t Not paid in cash, but collectible June 1, 1900. Bee Lehigh & Wilkes. -(V. 64, p. 283,466,706, 1041; V. 65, p. 1114, 1219.) Central RR. of Pennsylvania.-Owns Bellefonte (Penn. RR.) to Mill Hall, Pa. (on Beech Creek RR.) 27 miles; branch 4 miles; o.verates Nittany Val. RR., 7 miles. For year 1895-6, grosE1, $32,874; deficit under operating, $7,797; charges, $51,399; deficit, $59,196. Stock, $1,200 .000. Central RR. of South Carolina.-Owns from Lane, 8. C., to Sumter, S. C., 40 miles. Leased to the N!}rtheastern and the Wilmington Columbia & Augusta RR. companies jointly; rental $31,000 yearl.v. Stock $170,000, par $50. In year ending June 30, 1897, gross, $94,833; net over taxes, $35,643. In 1895-6, gross, $98,601.-V. 64, p. 887. Central Ver1no nt RR .-Operalies from Rouse's Point at the north end of Lake Champlain across Massachusetts to New London, Conn., on Long Island Sound, with branches. Bystem includes: See V. 64, p. 606. Entire sto<'k owned,- Miles. , Leased Lines-Oon'd. .Miles. Montpelier & White Riv. RR, .. 14 Missisquoi Valley .............. 28 Stansliead Bhefford & Chambly. 43 Montreal Portland & Boston. . 40 LeasedLinesMontreal & Vermont June ... 23 Consol. RR. of Vt.New London&Northern ,r ..••. 158 Windsor to RouPe's Point,etc.1791 Burlington & Lamoille ...•..... 26 Total op'd (f[See these co's.) .510 HIRTORY.-Rutland RR. was surrendered May 8, 1896, V. 62, p. 868, and Ogdens. & Lake Cham. March 22, 1897. V. 64, p. 567. RECEIVERSHIP.-On March 19, 1896, Charles M. Hays and E. C. Smith were appointed receivers.-V. 62, p. 588, 634. Interest due Jan. 1, 1 897, on the Consol. RR. of Vt. 5s was not paid.-V. 64, p. 82. PLAN.-The Comnlittee for Consol. RR. of Vt. 5s in Sept., 1897, issued a plan of reorganization [V. 65, p. r; 15 ] which provides for $10.· 000,000 new 1st mli1rn. 4 p. c. gold bonds, 2d (adjustment) mortgage "A" bonds $1,050,000 and "B" bonds $3,000,000; capital stock unde· cided. Consolidated RR. of Vt. 5s receive 85 p . c. in new 1st 4s and 15 p. c. in 2d M. As and for interest to Feb., 1898, 2d M. Bs at par. The urand Trunk Ry., which will be the sole stockholder of the new company, agrees under a traffic contract to make good any deficiency in earnings to meet interest on the new firsts and series A bonds, up to 30 p. c. of Grand Trunk gross receipts from traffic interchauged.-V. 65, p. 515, 666. BONDHOLDERS' COl\11\UTTEE.-Oonsol. !'is.-E. F. Bisco, Samuel E. Kilner, New York (Billings estate) ; Ezra H. Baker (Chairman), of Lee, Higginson & Co., and Henry D. Day, of R. L. Day & Co.; depositary, American L. & T. Co., Boston: over $5,500,000 deposited.-V. 62, p. 634; v. 64, p. 516; v. 6 ', p. 728, 923. BTOCK.-June 30, 1896, the Central Vermont had outstanding $1,000,· 000 stock >lndConsol. of Vermont$750,000 pref. and$300,000common. For securities owned June 30, 1896, see V. 64, p. 606. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I - - - - - - - --- $465,000 197,000 411,000 43,924,000 307,100 (j) M.&N. N. Y., Liberty Nat. Bk. May 1, 190S Dec. 1, 189 do do J. & D. July 15, 1899 do do J. & J. ,r July 1, 1987 5 g. do do Various N. Y., 143 Liberty St. Various datee 5 6 7 6 J. & J. N. Y., Liberty Nat. Bk. July 1, 1921 5 Dec. 1, 1931 do do 5 g. •J. &D . Sept. 1, 1941 do do 5 g. M.& 8. ...6.g. ....... J. & J. J. & J. 5 4 g . J. & J. 6 g. J. & J. 4 4 4 6 1; "i921 N. Y., Cuyler, M. & Co. Juiy · July,'96,coup.last paid. June 30, 1913 July,'96,coupon unpaid Jan. 1, 1943 U .S.Mort.&Tr. Co.,N.Y. $25,000 y'rly. . ......... . .......... Feo. Feb. Feb. g. M:·&·· S. Moh., '93, coup. last pd. Sept. g. g. g. 1,028,000 ...5.g. 1,000.000 5 g. 800.000 4&5 1,500,000 7 g. 2,000,000 7 2,720,000 5 g. 2,380,000 5 64'l,300 10 in '97 500,000 7 75,000 ·----(1) Q.-F. ...... ----- J. & J. Interest in default. A. & 0. Phil.WstEnd T.&S.D.Co M. & s. J. & J. N.Y.,12·w:~.fa&Cha'st'n April. See text. A.& o . N. Y., Chase Nat. Bank. If earned. October A. & 0. A. & 0. P~adeiphla~Penn. RR. ----· ······-··· :t, 11H~ 1, 1919' 1, 1919' 1, 1938 1; Juiy · ·i919 Oct. 1 , 1944 Moh. 1, 1916Jan. 1, 1936 Irredeemable. Oct. 1, 194 Oct. 1, 194 Oct. 1, '97, 5% Oct. 1, 1901 ......... I American BoNDs.-Of the consolidated mortgage fours for $15,000,000 [trustee Loan & Trust Co. of Boston) $3,000,000 have been is ued, or· which $2.896,000 were outstanding (Jund 30, 1896). ,.,~ collateral for loans and $104,000 were in the treasury.-V. 63, p. 358. See general balance sheet in V. 64, p. 606. ANNUAL REPORT.-Fiscal year ends Jnne 30. Ex:pert Little's report on the property for the three years endin~ June 30, 1896, was given io V. 64, p. 606. For the three yeaL·s he charges off a total of $632,879' for "additions ant\ betterments" and ''impairment of equipment." The results are as follows for ti cal years 1896 and 1895: Ex:cluding Rutland RR. and Ogdensburg & Lake Uhamplain, whose leases have been abandoned by the Central Vt. receivers: Year end. Gross June 30- earnings. Net .Mr. Litlte's Rentals, earnings. dedn•·tions. taxes, e•c. Balance, sur or def. 1895·96 .. $3,493,flB0 $1.006.018 $177.511 $858,593 def.$30,886 1894-95.. 3.268.547 937,912 79,!'i45 879,851 sur. 28,516 -(V. 65, p. 515, 666, 728; 923, 976, 1219.) Central Washington RR.-Cheneyto Coulee City, Wash., 125m• BONDHOLDERS' C0l\11\HTTEE.-A. M. Hoyt. Chairman, No. 1 Broadway, C. T. Barney and Charles E. Eddy; depositary, Knickerbocker Trust Co. Trust Co. receipts listed in ~ew York in July, 1894. SOLD.-Sold in foreclosure J an. 19, 1898 , !or $100,000 to reorga.ni• zation committee. Plan is expected snortly. C. B. Chamberlain of Spokane was receiver.-(V. 65, p. 1113, 1 L7'2; V. 66, p . 183.) Centralia & Che8ter RR.-Owns Chester, Ill., to Salem, Ill., 93 m. and Sparta to Rosborough, 18 m.; total, 111 m. On June 7, 1897, C. M Foreman of asbville, Tenn., was appointed receiver-see V. 64, p. 1137. Receivers' certiticates for $200,000 authorized in August, 1897, to complete line from Evansville to Chester; additional certificates for $175,000 authorized in Dec., 1897. Stock, $1,028,000. Farmers' Loan & Trust Co., trustee or the mortgage. For year ending June 30, 1896, gross, $99.234; net, $50,803; int., tax:es. etc., $50,190; bal. surplus for year, $113. In I 895-6. gross, $5~,271: net, $35,019; interest, $84,800; balance, surplus, $219. (V. 65, p. 234, 1172, 1219.) Charleston Clendennin & Sntton RR.-Owns road, com• pleted in December, 1895, from Charleston, W. Va., via. Clendennin to Clay Court House, 51 miles, and under construction via Clav Court House to Sutton. 49 milee additional: in Dec., '97, graded 12 miles from • Clay C. H. Capital stock authorized, $3,000,000; par, $100; outstanding March, 1896, $367,300. First mortgage is for $3,000,000. LATEST EARNINOS.-11 mos., t 1896 .... Gross, $49,780; net, $23,628 Jan. 1 to Nov. 30. 51895 .... Gross, 43,896; net, 24,629 President, John H. Drake, Philadelphia; Treasurer, W. B. Drake.., 1326 Chestnut Street, Philadelphia. V. 61, p. 1012. Cbarle8ton & Northern RR.-Operalies from Pregnalls, S. C., to Gibson Stat1on, N . C., 132 miles, and branche!I, 18 miles. A reergan• izationofthe Charleston Sumt. & No., soldatforeclosure Feb.15, 1895 .. After reorganization a mortg-age for $800,000 was issued. The road was then divided and purchased as follows: From l>arlington to North Carolina line, about 35 mtleP, by Cheraw & Darlington; Darlington to Sumter, 38 miles, and Eutawville to Pregnall~ and branches. 40 · wiles. total 78 miles, by Manchester & Augusta; Sumter to Merriam, 80 miles, by Wilson & Summerton. Each division was sold subject to the mortga~e on that di vision. Total of the mortgage is :S800,000 and all the bonus are held by the "Atlantic Coast Line Co."-(V. 60, p. 349.).. Cbarle8ton & Savannah Ry.-O wns from opposite Charleston, B. C., to Central RR. at Savannah, Ga., 115 miles, and branch 6 miles, a.ll steel. Operates from Ashley Junction to Charleston, S. C., and Cen · tral RR. of tleorgia, crossing to 8. F. & W. Ry. at Southover, 11 miles. Green Pond Waterboro & Branchville Ry., 14 miles, is controlled in same interest but operated separately. Belongs to Plant system. SECURITIES.-Interest on first incomes: !or 1888, 119 p. ct., for 1889 .... 2: for 1890, 6; for 1891, 6; for 1892, 5: for 1893, 4; for 1894, 4 per cent (paid in April, 1895). Stock, $500,000; par, $100. EARNINGS.-5 months, ? 1897 ... .. . .•. Gross, $198,546; net, $22,907 July 1 to Nov. 30. 5 1896 . ........ Gross, 181,203; net, 26,383 I ' TEREST- ? 18~9. '90, '91. '92. '93. '94.. '95, '96. '97 •. On incomes % 5 112 2 tJ 6 5 4 4 (1) (i) In year to June 30, 1897, gross, $571,109; net, $154,254; other income, $11,158; interest and tax:es, $116,498: balance, surplus, !or year, $a8,914. In 1 95-6 ~oss, $536,229; net, $106,690. ln 1894·95, gross, $551,766; net $112,483.-(V. 64, p. 421.) Charleston & Weliltern Carolina Ry.-P,lrt Royal, S. C., to Augusta, tla., 112 m., and Sparta.nb'g, Greenville and Anderson,230 m. H1sTORY.-A reorganization and consolidation Oct. 3, 1896, of th~· Port Koyal & Augusta and Port Royal & Wt-1stern Carolina, purchased at foreclosure safe by Tllo mas & Rya n, who sold the entire capital stock to Atlantic Coast Line interests in December, 1897, V. 66, p. 38. STOCK.-$1,200,000; par, $100. EARNINGS. -In year 1895 -96 companies now consolidated had gross earnings, $700,280; net, $61,51.l. In 1894-95, $652,606. President~ J.B. Cleveland, Spartanburg, 8. C.; t:!ecretary, A. C. Jopling, 32 Liberty-St., New York. (V. 65, p. 1023; V. 66, p. 38.) INVESTORS' SUPPLEMENT. [VOL, LXVI Sub8crlbers will cont'er a great t'avol' by giving ~m.m.edlate notice ot' any error discovered In these Table11. RAILROADS. For explanation of column headings, &o., see notes on first pa~e of tables. INTEREST OR DIVIDENDS. Bonds-Prtncl Miles Date Size, or A.mount pal,When Due. of of Par Outstanding Rate per When Where Payable, and bv Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. 39 1887 22 188 5 C. R. & S. 1st mortgage, $ 500,000, g old U ... ... c ---· 1897 Chattanooga Southe1"1i-Stock ($750,000 is pref.) ... 1st mortgage, gold .......... . ......... .. ........... "99 i 895 Income mortgage, non•cumulative, $7!50,000 .... 8 9 1895 <Oheraw d! Da1·l.-Stock(At.Coa stL. ow n s $337,700) ----8 66 188 1st mortgage, $400,000 ................ . ....•...... 37 1895 Charleston & No., 1st M., "Div. .A.," assumed ... 1869 <Jherry Valley Sharon d! Alban y-1st mortgage ... . 35 1887 flhes.cl Nash.-lstM.,$25,000p.m.,g.,s.f.,notd'rn.c* . . .... (}hes':!Jb.eake & Ohio-Stock . .....•...... . .. . ... . .... Pure . money funding, gold . .................... c* 428 1878 Mortgage 6s, ~old, series ".A." See text ....... c* {503 1878 75 1881 1st mort., of 1 11, Penin. Ext., gold. See text.c" Ter'J 1st m.,1922, coverin§ 8 m., to Phoebus.g .c"' 8 1882 1st consol. mortgage for$ 0,000,000, !old .. c""&r 655 1889 Rich. &All Div. 1st consol. M., gold. ee text.c~ 256 1890 2d cons. M. Riehm. via. Lynchb' g to Clifton F. 256 1890 26 1890 Craig Valley branch 1st mortgage, gold . ....... c~ 22 1890 Warm Sprin~s Branch 1st mort a e, fold ...... c* General mo ~ge (for $70,000, O , e c.) gold .. c~ 1,174 1892 Eliza. Lex. & ig Sandy 1st m., g., guar. p. &i. .c* 109 1872 Equipment notes ................................... GUARANTEED BONDS. 1888 Elevator Co. 1st M., gold,p. &i. guar. by C. & O.c* 1888 2d mortgage, for$ 00,000, income, non•cum.o* 1888 New River Bridge Bonds, ~ld..................... .... Greenbrier & New River R. 1st mort~aie ..... .... Manchester city & imp. bonds (8s, $45, O ) ••••• .... . ... Lo.&Jeff.Bdg. LstM.,$5,000,000,gu.p.&i.,end. ,r. *c 1895 ,r Guaranteed jointly and severally with Clev. hi. & ,(Jhateaiigay R'y-lst M., guar. p. & i. D.& H. Canal ,(Jhatt. Rome ct Southern-Rome & Car'lton l stM.,!i 0 -·-· 66 ---· ---· --·· ---· ---· ciii:c $ioo&o. 1,000 100 Miles. ..6.g: 1,000 1,000 1,000 1,000 830,000 315,000 170,000 I 370,000 ······ 1 ,r3,000,000 81,200 1,000 St. Lou is . Lines cont?-'d by stock, etc. Miles. Bridge-Covington, Ky., to Cincinnati, Ohio...... . ..... 2 Elizabethtown Lexington & Big Sandy RR. .............. 103 Sundry branches....... ...... 224 Trackage to Washington..... 85 Lines controlled by stock, etc.Leased........................ 30 Maysville & Big Sandy RR. -Ashland, Ky., to Covington, 1441 Totalsystem . . :···.···· .....• 1,360 .Second track ... . .... .,... . .... 82 Tr·ackage to Lomsville....... 84 Of the above mileage 19mlles is narro w•gauge road. Of the "leased" 21 miles is on E. L. & B. S. and 9 miles on Wasnington line. HISTORY, &c.-The former Chesapeake & Ohio was sold in .rora.olosure April 2 1878, and this company organized. In 1888, under "the direction of Drexel, Morgan & Co., reorganized without foreclosure, and the road extended to Cincinnati. The consolidation with the Rioh• mond & Alleghany was consummated in January, 1890. The Elizabeth· town Lexington & Big Sandy and other roads were absorbed in 1892. In September, 1893, the Chesapeake & Ohio Steamship Co., controlled by this·company, began operations. See below and V. 55, p. 1078. CAPITAL BTOCK.-Common stock is $60,493,000; increased from f45,000,000 to tms figure since 1892 through exchange of practically all the $25,000,000 of preferred stocks for common stock and general https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I 3,000,000 6 F. & A. Plattsburg, N. Y. Aug. 1. 1907 6 g. J. & J. July, '92, coup. last pd. Jan. 1, 1916 5 g. J. & J. N. Y., Union Trust Co. July 1, 1947 ----·· ~ieris:1~~!,t~ b&n~ur:i~h c'!~aYU~~~nt~t:i1rr1~cii~r!~f i¥t!iie11:l mining company and to carry summer travel to the Adirondacks. In .January, 1897, the Saranac & Lake Placid, 10 miles, was leased for 17 ~ears jointly with the Chateaugay Ore & Iron Co. Stock, $75,000 (par :j;lOO); loans and bills payable June 30, 1896, $67,782. EARNINGS.-In year ending June 30, 1896, gross, $96,474; deficit under --operating expenses, $11,287; rflntals and taxes. $13,900; balance, deficit for year, $25,1R7. In 1894·95, gross, $96,020; deticit under -operating, $7,636.-V. 64, p. 182. Onattanooga Rome & Southern KK.-Owns road Carrollton, Ga., via Rome, to Chattanooga , Tenn., 138 miles. Suoce"sor Sept. 12, 1897, to Chattanooga Rome & Columbus, which was sold in foreclosure Jan.13, 1897, to S. Borg & Co., N.Y., for $500,000, subject to the Rome & Carrollton mortgage of $150,000 (trustee, Farmers' L.& T Co., N.Y.) STOCK AND BONDS.-Ca pita l stock is $1,600,000 non-cum. 5 p. c. pref. stock and $1,600,000 common. First mortgage i s for $ 5 00,000, a nd it i s provided that bonds be reserved to retire Rome & Carrollt on 1st 6s in case an agreement can be made. V. 64, p. 753. Rome & Carrollton bonds are represented by William Strauss, 30 Broad Street, New York.-V 66, p. 135. EARNINGS.-Year end. June 30. 1897, gro s, $220,990 ; net , $30,892. In 1895·6, gross, $241,330. In 1894-5, gross, $211,099.-(V. 66, p 135.) · Chattanooga Southern KR.-Owns road, completed in June, 1891, from Tennessee State line to Gadsden, .A.la., 87 miles; Round Mt. branch, 3 miles; trackage to Chattanooga, 5 miles ; sidings and spurs, 10 miles; total of 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 bard times have prevented the issue of the new securities. BONDS.-The new flrstR are $5,000 per mile on present mileage and $10,000 on extensions. The old bondholders were required to subscribe for the new bonds at par to the amount of 25 per cent of their holdings. In July, 1897, no bonds had been issued-see V. 63, p. 401. EARNINGS.-In year ending June 30, 1897, gross, $67,821; net, $5,535. In 1895-6, gross, $75,270: deficit nnder operating expenses, ;$1,965. President, H. A. V. Post, New York; Secretary, E. C. Osborn, 71 Broadway.-(V. 63, p. 401, 823.) Cherry Valley Sha1·on & Albany KK.-Owns from Cherry Valley to Cobleskill, N. Y., 21 miles. In 1876 road was acquired (through Albany & Susq.) by D. & H. Canal Co., wllich now operates it. Stock, $289,100; par, $50. Ohesapeake & Ohio Ky.-(See Mct-p.J-Operates from Newport News Va., and Washington, D. C., to Cincinnati, Ohio, with branches. Lines owned in fee- (1) . ..5.g. J ...&..J. NewYork. (1) (1) 5 if earn. . . .. . 400,000 3 in 1897 J. & D. Charleston, 8. C. · 366,000 5 A. & O. Ch'ston,Pe ople'sNl.Bk . 250,000 5 M. & 8. . .. ..... .. 5oo··&c. 300,000 7 J.r5D.15 N.Y.Off,21Cortlandt8t. 1,000 875,000 5 g. F. & .A.. In default. 100 60,497,500 J."·&-·J. N.Y.,J.P.Morgan&Co . 1,000 2,287,000 6 g. A. & O. 1,000 2,013,479 do do 1,000 2,000,000 6 g. A. & o. do do 142,000 500 &c. 6 g. J. & D. do do 1,000 24 ,205,000 5 g. M. & N. do do 1,000 6,000,000 4 g. J. & J. do do 1,000,000 1,000 4 g. J. & J. do do 1,000 650,000 5 g. J. & J. do do 1,000 400.000 5 g. M. & 8. do do 1,000 24,855,000 4¼g. M. & 8. do do 1,000 3,007,000 5 g. M. & 8. do do 91,767 . ..... 6 Various do do --- -----50 ·-· Ohartlers Ky.-OwnsfromMansfl.eld, Pa., to Washington.Pa., 23 m. Leased till 1971 to the Pittsburg Cincinnati & St. Louis (now Pittsburg Cincinnati Chicago & St. Louis); the rental is net earnings. Capital stock, $645,300 (par $50), of which the Pennsylvania. Rail• fl'Oad owns $333,850. Dividends since 1886: In 1887, 1888 and 1889, 5 per cent; in 1890, 512; in 1891, 712; in 1892, 8; in 1893, 10; in 1894, 10; in 1895, 8; in 1896, 9; in 1897, 10 p. c. EARNINGS.-For year ending Dec. 31, 1896, gross, $277,523; net. 120,906; int. and taxes, $59,320; dividends, !fl:'>8,077; bal., sur. for year, $3,509. In 1895, gross, $262,884; net, $65,219. Ohateaugay KK.-Operates narrow.gauge road from Plattsburg, N. Y., on the Delaware & Hudson, to S1.1,ranac Lake, in the Adirondack Mountains, 73 miles. Of this it owns from Dannemora to Lyon Mt., 18 miles, and leases the Chateaugay Railway, Lyon Mt. to Saranac Lake, 39 miles, and the Plattsburg & Dannemora RR. (so•called), Plattsburg to Dannemora, 16 m. The latter road is leased from the State of N. Y. for one dollar and the free transportation of freight to the State's Prison at Dannemora. The Chateaugay Railway is leased for Old Point Comfort and New• port News via Charlottes· ville to Ashland, Ky........ 519 Richmond via Lynchburg to Clifton Forge, Va........... 232 .13uckingham Br. {acqu. in ~97) 21 $200,000 150,000 4 g. A. & 4 Oct. 6 g. M. & 5 F. & ·1925· 1925 Dec.10,'97, 3% .A.pr. 1, 1938 Moh. 1, 1915 June 15, 1899 Aug. 15, 1937 Juiy. 1,· .i898 July 1, 1908 Jan. 1, 1911 June 1, 1922 May 1, 1939 Jan. 1, 1989 Jan. 1, 1989 July 1, 1940 Moh. 1, 1941 Moh. 1, 1992 Moh. 1, 1902 Vanous. 0. do do Oct. 1, Oct. 1, N. N.Y., J.P. Morgan & Co. May 1, A. Richmond. Aug. 1, 1. 1938 1988 1898 1942 5&8 4 g. M:·&·s. N.Y.,J.P.Morgau&Co. Mar':Ci945 mortgage 412 per cents in certain proportions. Ji'irst preferred for $32,500 and second preferred for $28,900 only was outstanding July 1, 1896. See terms of exchange in V. 54, p. 642. BoNDs.-The series A bonds of 1878 cover, subject to the purchase money 6s, the main line from Richmond, Va., via Charlottesville to Ashland, Ky., 428 miles, and are equally secured with the Peninsular Exten sion 6s by first mortgage on extension to Newport News, 75 miles. The consolidated mortgage due in 1939 1s for $30,000,000 (trustee, Central Trust Company), and sufficient bonds are reserved to provide for prior liens. This mortgage is also secured by deposit in trust of the $11,000,000 bonds and two·thirds of the stock of the Maysville & Big Sandy RR., ron road Ashland to Covington, Ky.), and of the Bridge to Cincinnati, a~owned by the Ches. & O. RR. (See abstract, V. 49,p.147.1 Richm,-0nd cl Allegheny Division bonds cover the low•grade freight route from Richmond via Lynchburg to Clifton Forge and branches. (Mort. abstracts, V. 51, p. 144.) The general mortgage of 1892 (Central Trust Co. and H. T. Wickham trustees) is for $70,000,000, but additional amounts at $25,000 per mile may be issued for double-tracking. Of the $70,000,000 as above, $32,691,000 bonds were reserved to provide for the $30,000,000 consols of 1889, issued or to be issued, etc. The balance unissued may be sold for new acquisitions, rolling stock, etc., but not more than $2,000,000 thereof in any one year. The mortgage covers the entire property of the company, real and personal, at the time the deed was made, and all addttional property and mileage acquired with the proceeds of the bonds. See full abstract of mortgage in V. 54, p. 644; also V. 54, p. 642; V. 55, p. 335. In Jan., 1898, $21,804,000, had been listed on New York Stock Exchange. The Elizabetht'n Lexington d! Big Sandiy 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 d! Jeffersonville Bridge bonds, of which $3,000,000 are outstanding, are guaranteed jointly and severally by the Chesap eake & Ohio sudCleveland Cincinnati Chicago & St. Loms; any deficit on a ccount of the bridge is payable by them m the proportion of one• third and two-thirds respectively-see V. 60, p. 130; V. 61, p. 327, 559; V. 62, p. 84 and separate statement for L. & J. Bridge Co. OPERATIONS, FINANCES, &c.-Since the reorganization in 1888, when the control of the company was placed for five vears in the hands of trustees, the property has been greatly enlarged and improved. This is one of the so ·called Morga.n•Vanderbllt lines. June 30, 18 97, loans payable $500,000 at 4 p. c. interest, due June 30, 1898 , a nd there were 412s in treasury sufficient to liquidate all cur• rent liabilit i es. C. & 0. is also liable as guarantor on the Norfolk Wharf Warehomie & Terminal properties amounting to $401,232, and C. & 0 Gra in Eleva tor 1st mort gage $830,000. The interest char ges for the fiscal year 1897·98 (incl,uding interest on the -le¼ p er cent oonds in the ,treasury on June 30, r&)7 J are estl m a terl at $3,133,576, agaimt $3,rn3,471 in 1896-97. V. 65, p. 369. In D ec., '97,$1,500,000 of 412 p. c. bonds were sold for improvements and $2,287,000 consol. 5s for refunding the purchase money 6s dne July 1, 1898.-V 66, p. 133. The steawship line was formally opened Sept. 7, 1893, and owns 1:1ix new steamers, usin~ the railroad wharves at Newport News. EARNINGS.-5 months, { 1897 ... Gross, $4,909,964; net, $1,660,647 July 1 to Nov. 30. 51896 ... Gross, 4,339,712; net, 1,505,327 ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held at Richmond on the Tnesday precedin~ the last Tuesday in October. Report for 1896·97 was given in full in V. 65, p. 363, 369, and showed the following. See also editorial p. 348. Trafflc.-Of the total tonnage (6,491,297) in the year 1896·97, coal and coke furnished 3,046,520 tons, or 47 per cent of the whole; product~ of agriculture furnished 15 per cent. The average rate re· ceived on seabo ard coal was only 2·97 mills per ton per mile; on all freight, 4·19 mills. Average train load, 225 tons in 1890, 325 in 1895·6 and 352 in 189n-7. 1897. 1896. 1895. Year· endi ng Jiine 301,360 1,360 . 1,360 Miles operated ........•.. $1,857,898 $1,949,790 $1,847,148 Passenger earnings .....•• 7,810,598 7,304,816 8,389,374 Freight................... . 460,743 444,067 460,911 Express, mail and m.iscel. Total earnings........ $10,708,183 Oper. expenses and taxes. 7,286,769 Per ct. e:x:penses to earns.. (68) $10,221,131 6,963,153 (68) -$9,596,031 --6,464,528 (67) $3,421,414 79,326 $3,257,978 23,547 $3,131,508 11,445 Total and net income. $3,500,740 Interest on bonds . . . . . . • . } Rentals of ~acks net..... $3 198 198 Loss on gram elevator.. . ' ' Discount and exch'ge, &c. $3,281,525 $3,126,140 935 7,110 { $3,142,948 $8,098,118. 5,914 13,077 7,132 Balance, Slllplus..... $302,542 $147,340 -1V. 65, p . 327, 348, 363, 369; V. 66 p. 38, 133.) $18,700 Netearnings.......... Other income............. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M.A.POFTHE CHESAPEAKE & OHIO RAILWAY AND ITS CONNECTIONS. INVESTORS' SUPPLEMENT. [VOL, LXVI. Sub•c:rlbe:rs will con.fer a great t'avor by giving llnm.edlate notice oC any error discovered In these Tables. Bonds-PrinoiINTEREST OR DIVIDENDS. RAILROADS. Miles Date Size,or Due. Amount Rate per When Where Payable, and by pal,When Par Outstanding of Stocks-La.st For explanation of oolumn headings, &o., see notes of Cent. Payable Whom. Road. Bonds Value. Dividend. on first page of tables. --- - - - Chesapeake Ohio d Southwestern-SEE ILLINOIS CE NTRA.L <Jhesapeake d Western-Stock $660,000 .•.......... let mortgage, gold ($25,000 per mile) .....•...••• ·--· (Jhester Oo. pent.-lst M. ,$600,000, s. f., FP .. c .. ·4 (Jhestnut Hilt 1-lR.-Stock, rental .P. R. Ry ..••••• <Jhicago & Alton-Common stock ...••.••......... .... Preferred stock (7 per cent yearly not cumulative) Gen. M., Joliet to E. St. Louis & br., sterling ... o* 322 8.f. bonds(K. C.St.L.&C. lsthl.ool.) old,not dr'n. o* 162 Kansas City St. L. & C. pref. stoc , guaranteed .. 162 Joliet & Chio., 7 p.o. stook, perpet.,guar. by C.&A. 37 8t. L. Jaok. & Ch., 2d M.(now 1st), end. by C.&A. 150 Louisiana & Mo., guaranteed Ereferred stook ..•. 101 1st mort. (gua.r. p. & i. and a.ter assumed) ...•. 101 2d mort. (~ar. p. & i. and later assumed) .••••• 101 Miss. River r., stook (7 ~ ot. guar. by C. & A) .. 1st M., gold, assumed, s . fund, dr'n at 100 .. o* . -<Jh,icago Burlington d Northern-Stock $12,000,000 1st mortga~e, sink'g fund, redeemable at 105 .. o* 336 2d M. $3,6 5,000, red. after May 31, 1898 ..••• o* 342 Equipment mortgage-see text ..••••..••••.•••.••. .... J·• ,f $100 $532,800 ...5.g. F.----Aug.··i;·i945 & A. 500&c. New York City. 660,000 500&c. 5 g. J. & J. Philadelphia Ottice. 600,000 Jan. 1. 1927 Q.-M. 50 120,650 6 Dec. 1'97,1¼% ····--·--· --·· 100 18,751,100 714 in'97 a.-M. { N. Y., Cuyler,Mo}l'n} Dec.1'97,1~% .. .-M. 100 3,479,500 714in'97 &Co &Chic.Tr.O ce Dec. 1'97,1~% £200 6 g. J. & J. Lond'n,J.S.Morga.n&Co. July 1, 1903 isfa 4,379,850 1,000 1,723,000 6 g. M.&N. N. Y., Cuyler,Morg.&Co. May 1, 1903 1878 100 6 1,750,000 do do F'b.1,'98,119% i.-F. --·· .-J. N. Y., U. 8. Trust Co. Jan., '98, llli% 100 7 1,500,000 J. & J. N. Y.,Cuyler,Morg.&Co. July 1, 1898 1,000 230,000 7 isii8 F. & A. 100 329,000 do do 7 Feb., '98, ~¼% F. & A. i870 1,000 1,785,000 do do Aug. 1, 1900 7 1,000 M.&N. 300,000 7 do do Nov. 1, 1900 1877 100 300,000 J. & J. Chio., Treasurer's Offloe Jan., '98, 3129' 7 1,000 521,000 6 g. A. & 0. N. Y.,Cuyler,Morg.& Co. Oot. 1, 1912 i877 100 9,946,500 ...5.. A:·&··o. N.Y., F.L.&T.Co.&Bost. Apr:·1;·i926 iss6 500 &o. 8,053,000 1,000 J. & D. do do 1888 3,450,000 6 June 1, 1918 go9,ooo F. & A. 1,000 do do Feb. 1, 1903 1888 5 6 A. & 0. A.pr. 1, 1926 .... ,1894 10,000.&o 360,000 100 92,002,800 4inl897 Q.-M. N. Y., Boston and Chio. Dec.15,'97,1% J •••• 1,000 28,914,000 J. & J. N.Y.,Bk.ofCom.&Bost. July 1, 1903 7 755 1873 1,000 a2,315,000 do do 5 A. & 0. Oct. 1, 1901 284 1876 1,000 b2,818,000 do do A. & 0. Oot. 1, 1919 5 .... ~(1879 A. & 0. do do 4 Oot. 1, 1919 1879 1,000 c9,050,000 1,000 d4,300,000 M.& 8. do do Sept. 1, 1921 1881 4 F. & A. do do 415 1881 1,000 e7,968,000 4 Feb. 1, 1922 M.&N. do do May 1, 1913 .... 1883 1,000 9,000,000 5 i896 1897 -· -----· ~~~~~~~~iiio~· &· !i~i~~;;.:.:sic,cii; sea ·iei:i: Con. M. cov'ng Ch. Term. (now 1st lien) see text.o· Bink. fund bonds (1st M. as ooll.) not dr'n.o*&r Ch.Burl. &Q. Iowa Div., s.f. 5s,drawnatl05 .. } Iowa Div., s. f. mortga~e4s, dra.wnatl00.o&r Sink. fund 4s (So. W. Div.) drawn at 100 .... c&r"" Denverexten. (collat. tr.) b'ds, s.f. dr'n at 100.c* Debentures for Han. & St. Joseph stock ...••. c* a Issue $2,500,000; redeemed by sinking fund and ca nceled , $185,0 00; sinking f und asse ts, $1,51 4,307. b, $182,000, and c, $3,224,000 anceled not included. d. $1,020,000, and e, $1,78 7,200, are in sinking fund uncano eled and are here included. Chesapeake Ohio & Southwestern KK.-(See Map Illinois -Oent·r al.J-Louisville, Ky., to Memphis, Tenn., 392 miles, and branob Elizabethtown to Cecilian Junction 6 miles, 39B miles; of which is t eased from Louisville & Nashville their Ceoillan branch, 46 miles. HIST0RY.-Purcbased on July 25, 1896, by the Illinois Central for $1,500,000 at forclosure sale under the second mortgage; first mort,gage bonds mostly owned by ID. Cent. were subsequently deC'lared 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. 0. & S. W. property-see Illinois Central statement and also V. 64, p. 952. Earnings under receiver were in 1895·96, gross, $2,462,436; net, $815,646.--v. 65, p. 516. Yea .. ending Dec. 31- 1896. Mile• operat.ed....... 843 Passengers ..•••....•. $2,116,243 Freight . . . . . •• . . . • •• . 4,338,900 Mail, expenses, etc.. 385,140 1895. 1894. 1893. 843 843 843 $2,134,155 $2,043,912 $2,900,820 4,289,909 3,881,544 4,273,117 378,421 366,780 392,702 - ---- Total gross earns ... $6,840,283 $6,802,485 $6,292,236 $7,566,639 Net earnings .. •.••... $2,801,737 $2,819,492 $2,663,548 $2,910,750 241,525 273,019 Other reoeipts...... .. 234,257 305,336 131 Prem's on new stock. . .••••..•• 344,779 Total reoeipts . •••.• $3,035,994 $3,061,017 $3,281,346 $3,'U6,217 $422,772 Rentals paid ....•..•• $430,475 $632,987 $658,892 Chesapeake & ,v.-stern 'KK.-Owns road from Elkton to Construot. ,e!uip. ,&o. lR,765 26,218 217,833 52,378 Bridgewater, Va., 26¼ miles; trackage,' Norfolk & Western to Elkton [nterest on ebt.. ••• 579,618 527,504 632,037 587,959 ..Junction, 0·33 mile. Road opened in April, 1896. Projected to tide· Dividends .....••.•••• 1,778,448 1,778,448 1,729,424 1,582,386 water on Chesapeake Bay. 169,401 24,506 168,227 57,342 Miscellaneous .....••. To April, 1897, $660,000 bo1;1ds issued, but held for account of con.:etruction company, which is building the road. Mortgage trustee, $17,333 *$236,908 $196,986 $72,727 Balanoe, surplus ...• ·Continental Trust Co., N. Y. General office, Harrisburg, Va. ---- ---- Chester County Central KK.-Organized in 1896 to construct • In addition $203,705 was pa.id for old olaims to Wiggins Ferry Co. road in the counties of Philadelphia, Delaware and Chester, Pa. -(V. 64, p. 3 5 '7 • 3 '70, 866, 887. Sinking fund is $10,000 a year; bonds subject to call at 105. Chicago Bu:rllngton & Northern KK.-(See Map of O.B. cl Q.J Chester & Lenoir Narrow Gauge KR.--See Carolina & N. W Road from Oregon, Ill., ~o St. Paul, Minn., 343 miles, including traok• age 25 miles (318 miles owned); other trackage, 5 miles; owns from Chestnut Hlll HK.-Owns from Germantown to Chestnut Hill, Fulton to Savanna, ill., 17 miles; branches, 6 miles; total, 371 miles. Pa., 4 miles. Re·leased in 1896 to Phila. & Reading Ry., the rental Completed Aug., 1886. 'being reduced from 12 per cent liO 6 per cent on stock. ST0CK.-Jan. 1, 1896, C. B. & Q. owned $9,840,000 (V. 50, p. 390.) Chicago & A.lton KK.-R0AD-Operates from Chicago to St. BoNDs.-The C. B. & Q. and Chicago & Iowa give a tratfic guarantee Louis, Kansas Citv, eto., owning 542 miles and operating in all 843 ror 20 yea.rs from '85 of one•hal:foftheir net earnings derived from busi· miles, of whloh 110 miles double traoked. ness ~o and from the Northern (to be not less than $100,000 per year) tor the retirement of Chioago Burlington & Northern firsts at 105; and Lines OwnedMiles. Lines LeasedMiles. after March 31, 1896, the whole issue may be retired at 105. The ..Joliet to Ea.st St. Louis ...••••.. 244 Joliet & ChicagoDwight to Wash. and Lacon ... 80 Chicago to Joliet ...•...•••..•. 37 amount of firsts outstanding has thus been reduced from $9,000,000 to amount in table. See desoription of mortgage in October, 1896, -St. L. Jaok. & Chic. DivisionLouisiana & Missouri Riv.Bloomington to Godfrey ..• •• 150 Louisiana to Cedar City .•..•• 101 SUPPLEMENT page 1. Funding notes for $230,000 were issued in 1894. The debentures of 1896 for $935,000, due Deo. 1, 18&6, were replaced Rood house to guincy Juno.... 371 Kan. City St. L. & Chicago.Joliet to Coal City, etc...•••.••• 25 Mexioo to Kansas City_ ..•••• 162 by second mortgage 6s . In year 1896, gross, $1,839,507; net,$363,343; defioitunder interest, -Other lines...................... 61 Mississippi River Bridge ...•••• lla eto., $447,741; in '95, gross, $2,005,907; i..et, $459,330. (V. 63, p. 879.) Total of all owned and leased(70 lb. steel) ..•••..••••..••••...... 843 Chicago Burlington & quincy HK.-(SeeMap.J-RoAD.-Ope• HIST0RY.-Reorganized in October, 1862, afterforeolosure. In 1884 rates a great system of roads e.x::tendin~ frl)m Chioago westerly, reaoh• -eonsolidated with the St. Louis Jacksonville & Chicago RR. ing St. Paul and Minneapolis, Minn., i::,t. Louis and Kansas City, Mo., Omaha, Neb., Denver, Col., Cheyenne,Wyo., Black Hills, S. D., and Bil• 8T0CK.-In 1q92-93 sold $4,636,100 new stock to stockholders at lings, Mont. The aooompanying map shows clearly the system. 114 to retire $5,312,000 7 per oent bonds. The Chicago & Alton preferred stook has prior right to a non•oum111aOontroll'd and Uperated. t Miles. "Road owned, leased, etc. Miles . ¢lve dividend not exceeding 7 per cent from net earnings and (after 1 046 Chtoago Burl. & Northern .••. ,r 371 ~~'ii~fe!° ~:Nv!!a~iJ- ·iiiie; ' payment of 7 on common) also shares with common in any surplus. Kan. C. St. J. &Conn. Blu:ffs,rpractically owned ... _...•. . .4,607 Kan. C. to Coun. Bluffs, eto. 310 DIVIDENDS.-Pr. ot. l 1881 1882 1883 1884 '85 to '96 incl. 1897 . Used jointly with other Co.'s. 207 St.Louis K. & N. W. (all own'd) 225 -0ommon and pref_ .•. 5 8 8 8 10 8 per an. below Chica~o Burl. & Kan. City... 236 Com. and pref. in 1897, Mar., 2 p. o. eaoh; June, 1~ u.c. each-(see V. Total system propdr ....••• 5,860 Hanrubal & St. Joseph .....•• ,r 297 •64, p. 86~, 887); Sept., 1¾ p. o. each; Dec., l¾ p. o. each. Second track.................. 297 -,r Separately described. Total system, stand. gauge .. t7,180 LEASED LINES.-The Kansas Oity St. Louis " Ohicago is leased in pert Le s 119 m. already included. Narrow•gauge ...•••. .•••• ..•••• z79 petuity from Nov. 1, 1877, at rental of 35 per oent of gross earnings. Its bonds are held by the U. 8. Trust Co. as security for the Chioago ORGANIZATION, &c.-This was a oonsolidation in July, la75, of the & Alton bonds of 1878, which have a. sinking fund (in 1896) or $135,· Chioa.go Burlington & Quincy in Illinois and the Burlinsfion & Missouri •·6 90 per annum. Common sto~k, $271,700, ofwhioh $157,600 is owned River in Iowa. In 1880 the Burlington & Missouri m Nebraska was by the C. & A. Dividends of 7 per cent per a~num were paid on K. C. absorbed. The leased lines are praotioally owned and there is no charge -St. L. & C. common till Nov. 1, 1894, and then suspended, for rentals in the income acoount, except as interest on bonds. The The Joliet ll Ohicago is leased from January 1, 1864, forthe term of its ownership in the other roads above·mentioned is in the stooks and -charter, and forms part of the main line. Rental, 7 per oent on stook. bonds thereof, and their accounts are kept 6eparate. The Louisiana cl Missouri River RR. was leased in perpetuity, Aug. LANDS.-Only 49,700 acres remained um!Old Dec. 31, 1896; land notes 1, 1870. Under the agreement of Nov. 13, 1894, the Alton assumed to outstanding, inoluding interest payable, $327,118. i,ay, in lieu of rentalR, all interest on th~ first and second mortgage CAPITAL 8T0CK.-The stook has been increased fQr the a.oquisition 'bonds and their principitl when due, also 7 p. c. per annum on the 1ma.r- of new lines, and in 1880 a distribution of 20 per oent was made. Stook .anteedpreferred l'ltock, and alsoto purohase the L. & \1. R. unguaranteed for $5,595,300 was sold at par to stockholders in February, 1893. preferred at $29 50 per share a,1d the of)mmon at $10 per share. V. DIVIDENDS.- ~ 1881·87 '88 '89 '90 '91 '92 '93 '94 '95 '9o '97 ·59, p. 1057. Un~u11,ranteed preferred stock is $1,010,000 and oommon 4 5 414 5 5 4lli 4 4 4 $2,312,700, neither of which have ever pa.id divid1mds In Dec .. Per cent .....••.. 5 8 yrly. 5 1897, all but 287 shares of unguaranteed preferred and 467 tihares of SINKING FUNDS.-Inoluded in the bonds outstanding in the table common stock had been purohased by Chica.go & Alton. il.bove are sundry bonds of the oompany which are neld a.live and The Mississippi River Bridge is leased in perpetuity from Deo._3, 1877, drawing interest for account of the various sinkin~ funds. at 7 p. o. on $300,000 stock (all owned by C. & A.) and 6 p. o. on bonds. Bmms.-For full description or each loan see the editorial ai-ticle on v. 59, p. 423; v. 61, p . .324. pages 3 to 6 of !3UPPLEMENT or Oct., 1896, and CHRONICLE V. 63,p. 775. Tne consol. mortr,a_qe of 1873 is for $30,000,000. or wnton ~ L.076. 00 0 GENERAL FINANCES.-The Chicago & Alton Road has been par• Gioularly strong in having a large looal business between Chioago and reserved to retire a like am1mnt of Ottawa Oswego & Fox Rtver 8t. Louis. Its leased lines a.re as oompletely controlled as if owned, guaranteed bonds. The con.sols a.re a first mortgage or first and the system is very oonservatively managed, no extensions collateral Hen on 755 miles of road in Illinois and •rn Chioago terminal property, and on payment of $1,076,000 Ottawa OiJwego & Fox having been built or new lines acquired of reoent years. River bonds July 1, 1900, will embrace its 68 miles additional. ANNUAL REP0RT.-The annual meeting is held in Chicago the first Tbe Iowa Division bonds are a first mortgage on tile main line m Monday in April. Annua.1 report for 1896 waR in V. 6-l, p. 370. See also lowa from Burlington to East Plattsmouth on the Mo. River, 278 miles, -editorial, p. 357. Earnings have been as follows: and on 122 miles of branches; they are also a fir.st collateral lien on 420 ;a, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CHICAGO BURLI GTO RAILROAD & QUINCY INVES'J.1ORS' SUPPLEMENT. [VOL. LXVI. Subscribers -w-tll confer a great f'avor by giving Immediate notice of' any error discovered in these Tables. Bonds-Prinoi RAILROADS . • INTEREST OF DIVIDENDS. Miles Date Size,or Amount Rate per When Where Payable, and by pal,When Due► l!'or explanation of column headings, &c., see notes of of Par Outs Stocks-La.st ta.a.ding Cent. Payable on first page of tables. Road. Bonds Value. Whom. Dividend. - - --- - - - Chicano Burlington & ~incy-( OonctudedJNebraskaext.,$20, 00 p.m. (s.f., notdr'n).c*&r 1,475 1887 1,000&c f26,411,000 4 M.&N. N. Y., Bk.of Com.& Bost. May 1, 1927 Chicago & lowa Div., collat trust ............ c* 121 1895 1,000 2,320,000 5 F. & A. do do Feb. 1, 1905Convertible debentures (Bee remarks) ........ c* .... 1890-2 100 &o. 15,263,900 5 M.& 8. do do S~t.1, 1903 B.&Mo.RR. in Neb. { Land grant, a. f., dr. at 100} 584 { 1878 600 &c. g8,302,400 6 J. & J. Boston, Bk. of Com'rce. J y 1, 1918' Con.M$14000000 Exempt, not dr'n till 1908 1878 600 &c. 5,000,000 6 J. & J. July 1, 1918' do do Burl.&Mo.RR.inNeb.,s.f.forAt.&Neb.RR.st'k .. 1,000 h3,347,000 1880 4 J. & J. do do Jan. 1, 1910 R~.Val., lstM.,iu.,(dr. atl00) a. f.,$14,000y'ly.o ·go 1879 600 &c. kl,078,400 J. & J. Boston, Bk. of Com'rce. July 1, 1919 6 O awa Oswego Fox River, 1st mortgage .... o* 1,000 70 1870 1,076,000 J. & J. N.Y., F.L.&T.Co.& Bost. July 1, 1900 8 Atch. &Neb., lstM., At. to Lin., Neb., etc., iuar .C"' 146 1878 100 &o. 1,125,000 M.& 8. Boston, Bk. of Com'roe. Moh. 1, 190S 7 2d mort. on Atoh. & Neb. RR. (lat M. on ridge) ..... 1887 . .... See text. Boston. 6 J . & D. Dec. 1, 1927 Linc'n&N.W.RR.lstM.£uar.,s.f.lp.c.,notdr'n .. 1,000 72 1880 600,000 7 J. & J. Boston, Co.'s Office. Jan. 1, 1910 O. B. cl: j· S11stem-St. L. eokuk & N. W. lat M . ... .... 1890 See text. 6 F. & A. Boston, C. B. & Q. office Feb. 1, 1930 ·ioo 6,197,800 Ohic. cl: ast. Illinois-Com. stock ($15,000 p. mile). ..... ...... Pf. st'k, $10,000,000,6 p.c.non·cum($10,000 p.m.) ..... 100 4,830,700 6in·isin Q~..:.:j, N.Y., Hanover Nat. B'k J an:s:igs:i¾!%, lstmort. (s. f. $20,000,nodrawings) ............ c• 107 1·977 100 &o. 2,989,000 J. & D. N.Y.,4thNat.Bk.&Bost. Dec. 1, 1907 6 Danville & Grape Creek RR.-lst M., assumed .. c* 119,000 1,000 7 1880 M.&N. Boston. Globe Nat. Bk. May 1, 19206 15 1881 Extension, lat mortgate ........................ c* 1,000 103,000 J. & D. N. Y., Fourth Nat.Bank. Deo. 1, 1931 6 Consol. mortgage (for$ ,000,000),!old s. f ..... o• 127 1884 1,000 2,788,000 6 g. A. & 0. N. Y., Central Tr.& Bos. Oct. 1, 1934. Collateral trust bonds, siJl.king fun ............ c* ·-·· 1887 42,000 1,000 g. F. & A. N. Y., Central Trust Co. Feb. 1, 1912 General consol. and :first mort. $30,000,000 .. o&r 286 1887 l,000&o 9,767,000 do M.&N. Nov. 1, 1937 do Chic.&Ind.Coal-lstM. $25,000p. m., assumed.o* 174 1886 1,000 4,626,000 J. & J. N. Y., Met. Trust Co. 5 Jan. 1, 1936 Ohieago ti Erie-Stock (all held by Erie) . . .......... .... 100 100,000 ...... ---··----May·1;-i98i lat M., gold, interest ~ar. tillgrincipalis paid.. c* 249 is9o 5 g. M:·&··N . New York, Erie RR. 1,000 12,000,000 Income bonds for $1 ,000,00 5 p. c. non·cum ... 249 1890 1,000&o 10,000,000 Mostly owned by Erie RR. Oct. 1, 1982 Terminal 1st mortgage, gold....................... .... 1888 300,000 5 g. J. & J. New York, Erie RR. July, 1918 Chicago Fort Madison <I DesMoines-11:ltmort.,gold .... 1891 1,313,000 5 g. J. & J. 1911 Income bonds ........................ ..... ......... ---74,750 ......... ....... . ... . ....... . ....... ---- -· --·· g Uioo --···----- The Chicago Burlington & Quincy sinking funds for the several loans respectively held alive January 1, 1897, of the bonds .e :iven above a& outstanding: or g, $4,319,400 J an. 1, 1898; h, $1,696,000; k:, $2 9, 00. Also canceled bonds not included above, C, $3,030,000, July, '97. miles of branches and 86 miles of second track. These bonds have a sinking fund ot 112 per cent ($203,800) yearly, for which the 4s are subJactto call at 100, the 5s at 105. The sin~le main lme and branche covered "shall not exceed in the ag!.ITegate 900 miles," at $16,000 per mile; on second track (of which J an. 1, 1897, there were 88 miles) may be issued an additional_ $14,000 per mile. (V. 65, p. 462.) Denver Extension bonds can be mcreased only for second track at $10,000 per mile. The collateral trust Nebraska extension bonds of 1887(New England Trust Co., of Mass., trustee) are issued at .$20,000 pe_r mile for s1nde and $10,000 per mile for second track on not exoeedmg 1,500 miles. Abstract of deed v. 45, p. 441. Burlington cl; Missouri RR. in Nebraska consol. mortgage of 1878 is for $14,000,000, and if" now a 1st M. or 1st collateral lien; all except the $5,000,000 of e:teTl'}-Pl bonds a!-'e s~bject to call f?,r the silJ~ng fund at pa.r, $231,200 havmg been retired m 1896. The exempt bonds may be called after 1908. . The 5 per cent debentures of 1890 and 1892 are convertible into stock, at any time prior to :i;:>ecember 1, 1902, except when books are closed.. Bee terms of conversion on page 5 of the SUPPLEMENT for Oct., 18_96. Many of ~he bonds are red~emable (may be m:awn) before maturity at various pr10es, plus accrued mterest, as stated m the table above. . GENE!lAL FINANCES.-The Chicago Burlington & Quincy Railroad .lle,s been one of the most profitable in the country, as its numerous branches tributary to the maift line were built tnt<? choice agricultural territory. Corn, however, bemg one of the prmc1_pal articles carried by it, its earnings vary greatly according to the size of the crop. The company's sinkiDg funds have received to Jan. 1, 1897, over $16,000,000. With this mo~ey ahout $7,000,000 of the company's bonds have been canceled, while the remainder of tJ:te ~ash not so used has been invested for the benefit of the several srnkmg fund loa.ns in bonds that are held a.live drawing interest and are therefore included in the company's outstanding debt. In 1896 the agg-rAgate sinking fund income was close to $1,256,000, of which about $778,000 is the amount carried direct to the sinking fund and the balance appears in the accounts merely as part interest on funded debt. The outstanding debent111·es aggregate $31,910,900; of this amount $9,000,000 was used to purchase the .tlannibal & St. Joseph, from which a 5 ood income is received, while $7,647,000 was used to buy other stacks and $15,263,900 for improvements, etc. As unencumbered a setl'I, on the other hand, the company owns besides the $14,244,900 Hannibal & St. Joseph stock above m_eu• tioned, a, large amount of stocks and bonds, a 11st of the same bemg in v. 63 on pages 778 and 877. The road owned unbunded and the roads whose bonds are all owned were in 1897, as follows : I (double Chicago & Eastern Illinois KK.-(See Map.J-Operates road to Danville, 106 miles) from Chicago, Ill., to Terre Haut e, IInd.,. andtrack the bituminous coal fields. (if See th.ls co.) . . Mil.es. Northerlv Extension. Alliance, Neb., to Billings, Mont., and brancbes ... . . ... tl21 St. Louis Keokuk & N. W. (all its $15,593,800 bonds owned and unple~edl 26 1 ofit~k1¥:e:~·f ei~~>"securitie/ all or nearly all owned and unpledged .. . . . . . . . . . . . . . . . . . . . . . . . . ...... .... .477 ~a8Je~~~~a~f~i~:~:~r~wti~~Y~t~~~~. An artiole covering fully the above point3 was in V. 63, p. 775. LATEST EARNINGS.-From July 1 to Nov. 30 (5 months) earnings, including lines controlled, were : 5 months. Gross. Net. Oharges. Balance. 1897....... $19,471,863 $8, 2 99, 745 $ 4 , 45 o,ooo sur. $ 3 , 849 •745 4 , 38 l,OlO sur. 2 •311 •720 1896....... 15,629,285 6,69 2 ,730 ANNUAL REPORT.-Fiscal year changed in 1897 from Dec. 31 to June 30. Annual meeting is held in November (Nov. 3 in 1897). For the 12 months ending June 30, 1897, surplus over charges applicable to dividends was $3,807,846; dividends paid (4 p. c.), $3,280,112; bal· ance, surplus, for year, $527,734.-See statement for 6 months ending June 30, 1897, in V. 65, JI· 563. Report for 1896 was m the CHRONICLE, V. 64, p. 752, 756, showing operations, including results of the C. B. & N. and all the "controlled" roads, aR follows: Gross. Net. Other inc. Int.,11.J.,etc. Bal.for divs. 1896 .. ... $34, 176,456 $11,515,984 $390,323 $ll,439,837 $2,466,470 1895 ....• 33,658,271 11,162,609 ........ .... .....• ····· ·· ··· Dividends paid (4. p. c.), $3,280,111; balance, dell.cit, $813,641. The operations of the system proper (includiniz the lines controlled only in •• other income" as interest or dividends received), have been: Yearend.Dec.31- 1896. Miles operated .. 5,860 Gross earns ... $25,553,073 Net earnings .. ... $8,703,077 r. c. op. ex. toe.. (65·94) Int. & exch'ge .. $1,830,797 25,923 :et~~l:J.1·.~.· 1895. 5,730 $24,874,192 $8,163,653 (67·18) $1,915,262 4 lr:J~i 1894. 5,730 $24,667,132 $8,383,066 (66·02) $1,938,852 73,526 1893. 5,596 $31,042,969 $9,818,465 (68·37) $1,771,092 ios:422 Total income. $10.559.797 $10,610,476 $10,395,444 $ 11,697,979 Rentals paid.... $199,995 $229,860 $264,971 $310,260 Interest on debt. 6,7:.:l6,206 6,572,627 6,492,429 6,538,911 Dividends .. ..,. .. (4) 3,280,111 (4) 3,280,108 (434)3,895,128 (5) 3,960,252 car. tosink'g f'd. 777,785 760,242 773,387 765,09~ Lines owned in fee. Milfff. Dolro~ to Alt~mont, Ill ...••••• 2:.:4 Rossville to Sidell, Ill.......... 34 Momence~ Ind. State line_June. Chic. & I~d. Coal Ry... 11 Ci sna Ju11:c. to Cissna Par~.•.· 11 Chic.&Ind1ana Coal Div.,Brazil to La Crosse, Ind:, etc . ......• 183 Altamont to Marion and brs .100 ~ouble track .........•...•.....• roo, Sid~ tra~ks .... : ·········•· •·····. 23I P1 oprietary line~ (leased.) .1files. Evans. T. H. & Chic. RR., 1T. ... 49_ Ind. Block Coal RR ..•••...•.... 13 Trackage, etc. Otter Creek ~uno. to Terre H.. 6 Dolton to Chicago, Ch.&W. lnd. 17 j Total operated June 30, 1897.648HISTORY, LEASES. &c.-Reor~anized under existing title September 1, 1877. In Nov., 1887, consolidated with Strawn & Indiana StateLine RR. and Chicago Danville & St. Louis RR. (V. 46, p. 135), and on June 6, 1894, with Chicago & Indiana. Coal RR. See V. 58, p. 987; seealso v. 48, p. 334. Also owns control of Evansville Terre Haute & Chicago RR. and $1,000,000 stock of the Chicago & Western Indiana.which Ree, havini? all the local traffic of the latter road from Dolton into Chicago. In J a nuary, 1890, a ten•year traffic contra.ct was ma.de with the E vansville & Terre Haute for the operation of a through line between Chicago and Evansville. (V. 55, p. 995.) In March, 1897, the· Chica.go Paducah & Memphis 100 miles was purohaRed and a connec• ion from Shelbyville to Alta{nont, 25 miles, built. (V. 64, p. 516,) t CAPITAL STOCK.-The common stock ($15,000,000 authorized) is en-titled to all surplus a.flier 6 per cent on the preferred stock. In addition. to the amounts outstanding in the table, $2,158,800 common and $407,100 preferred were held ln the company's treasury June 30, 1897. DIVIDENDS- 51888 on pref., p. o. i 712 '92 to Jan. '98, incl. '91 6 p. c. yearly 412 BONDS, GUARANTIES, &c.-The Chicago & Eastern Illinois guarantees the interest on Evansville Terre Haute & Chioa~o issu"" (see tha. t company) a.nd interest on $150,000 Indiana Block uoal 1st 7s. 'l'ne general consol. and 1st mortgage of 1887 (trustee, Central Trust Company) provides for the retirement of $6,042,000 prior bonds and for issue of bonds on new road at $18,000 per mile for single tra.ok also for b@nds for equipment a.t i!7,000 per mile and for nouble track at $8,000 per mile. In 1897 the total issue o:f gen. consol. bonds was limited to $30,000,000 and bonds were reserved tor Chicago & Indiana Coal firsts. See V. 64, p. 1088. These bonds ar& a first mortgage on 154 miles of road, including the line from Ross ville via Sidell to Altamont, etc.; also on, equipment valued at $2,355,000, and upon real estate in Chicago cost· ing over $1,200,000. They also cover 106 miles of double track from, Danville to Dolton, m., and rest of property subject to prior liens. Ohicago cl; Indiana Ooat first mortgaqe of 1886 (trustees, .Metropolitan Trust Company and R. B. 'F. Pierce) 1s for $1,000,000 on road from, Yeddo to Brazil and $25,000 per mile ($7,000 of this for equipment} for extensions; second track, $8,000. The bonds have been assumed. GENERAL FINANCES.-This company owns most of the capital stock of the Brazil Block Coal Co., and carries all its coal. It carries a.lsothe coal of the Grape Creek region. It has bought within a few yearsterminal property in Chicago worth over $1,200,000. In March, 1897l con.sols for $2,280.000 were listed, having been issued on account o purchase of Chic. P. & M. and connection therewith. V. 64, p. 516. On June 30, 1897, bills payable $170,000; Chica.go P. & M. oar trust notes (includin~ interest), $480,169. The charges to construction in 1896·97, outsiue of new lines, amounted in the aggregate to $61,100. The principal items were: For substitution of heavy steel for ligh~ steel in track, $26,153; for bridges, $11,300; for side track (1·9 miles), $12,937; for new telegraph line, $2,497. L E J t D b (12 ths) gross ATEST < ARNINGS.- anuary 1 O ecem er 31 mon , $4,110,125 .in 1897; $3,884,735 in 1896. ANNUAL REPORT.-Fisoal year ends June 30. Annual meetin~ is held in Chicago on the first Wednesday in June. The annual report for 1896·97 was in V. 65, p. 724. The company receives low rates for its freight, the rate per ton per mile being 51·100 of a. cent in 1896·97, 54·100 in 1895·96; 59·100 in 1894·95; 63·100 in 1893·94. Of the traffio about 64 per cent in year 1893·94 was coal. Y ear end. June 3 o. 1896. 1895. 1894. 189 7, Miles operat. June 30 648 522 522 516 Gross earninis .....•• $3,927,610 $4,014,624 $3,667,869 $3,860,115 Oper. exp. & axes ... 2,423,915 2,433,888 _2_,508,371 2,409,71() Netearnings ....••. $1,503,695 $1,580,736 $1,159,498 $1,450,405. P. c. op. ex. to earns.. (61·72) (60·62) (68·38) (62·43) Net(incl.oth.income).$1,661,407 $1,735,380 $1,329,151 $1,576,092· Cnterest paid .......•• 1,002,553 968,995 962,901 942,788 Rentals............... 241,156 234,478 234,959 238,756; Div. on pref. stock . . _(6_)289,842 _<6_)289,842 _(6_)289,842 _<6_)2_8_6_,9_1_4 '89 6 '90 6 stk. Balance ....... rlef. $424,300 def. $232,3 62def.$1,030,471 sur.$123,466 Ralanoe ...•••........ sr.$127,855 sr.$242,065 df.$158,551 sr.$107,634. . -(V. 64, p. 733, 15 2, 753, 7 5 6; V. 65, p. 462, 563, 1172.) . - (V. 64, p. 422, 516, 1088; V. 65, p. 6 65, 72'1.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1898.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCKS AND .BONDS.. 31 AND EASTERN ILLINOIS RAILROAD SYSTEM. Shaded portion shows Coal Territory. 32 INVESTORS' SUPPLEMENT. MAP OF THE CHICAGO GREAT WESTERN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILWAY. [VOL. LXVI. JANUARY, 1898.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. MAP OF THE CHICAGO, INDIANAPOLIS -AND- LOUISVILLE RAILWAY. 33 INVESTORS' SUPPLEMENT. 34 [VOL. L.X:VI. Subscribers -will conf'er a great favor by giving Immediate notice of any error discovered In these Tables. Bonds-Prine f INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or pal,When Dne. Amount Par of by and Payable, Where When per Rate Stocks-Last For explanation of column headings, &o., see notes of Road. Bond& Value. Outstanding Cent. Payable Whom. on fl.rat page of tables. Dividend. Chicago & Gr. Trunk-Northwest Gr. Tr., 1st mort. 1st mortgage for$6,000,000, $ (cur.) & .£ . .... c&r 2d mortgage (currency) •. ........... ...... .... o*&r Chicago G•r eat Weste1•nC. St. P. & K. C. prior loan, red. at 105, assumed. Deb. stock, cum., g., $30,000,000, div. in cash, g. Do. cum. dividends, payable in scrip ............ Debt-nture scrip (not interest-bearing) .. . ........ Preferred stock A, $15,000,000, 5 per cent, gold. Do. dividends, payable in scrip .................. Pref. stock B, 4 per cent $10,000,000 ............. Common stock, $30,000,000 ...................... C. St. P. & K. C. eqmp. lease warrants, aRsumed. Sterling loan notes (no mort.), £200,000, gold ... Sterlin"' loan notes, (unsecured) £100,000 . ...... C. G. W. equi~ment lease warrants . .............. Ohic. Hammon <t West.-lstM.,$2,500,000, 1r.c•&r Chicago IncUanap. &: Louisville-Com. stock.. . Preferred, 4 per cent, non-cum., $5,000,000 ..... . L.N.A.&C., lstM. Lou.Div.-N.A.. to Mich. City.o* 1st M., Chio. & Ind. Div., Chio. to Ind., gold .. c* C. I. & L. refunding mort., $10,300,000, gold, 5s. gold 6s, issued for old consols .......... Do Ohic. Kalamazoo <I: Saginaw-Stock ($2,000,000 au.) 1st M., $225,000, gold. subject to call at 103 ... o* Ohic. Lake Sh. cl: East.-Divisional bonds (see text) J st mortgage, red. at par, gold, ......... . .. l'I C.c* Equipment, gold, ink. fund (red. at 105.)lUC.o* Chicago JJI-ilwa11kee &: St. Paul-Common stock. Preferred stock7peroentyearly, not cumulative. Milwaukee & St. Paul loansPrairie du Chlen 1st M. (Mil. to Pr. du Ohlen) .c* 2d mortgage .....•.••........ _. ............. . o* 66 327 327 ·- - - - - 1880 $500&c. 1880 .£100&0 1882 1,000&c ---J. 6 6 5 & J. ~ N. Y. Agency, Bk. of Jan. 1, 1910 J. & J. Montreal &London. Jan. 1, 1900 J. & J. N. Y., Bk. of Montreal. Jan. 1. 1922 ---· ---- 2,823,150 5 g. J. & J. N.Y.,Lon.&Amsterdam Jan. 1, 1934 9,878,200 4 g. J. & J. London,R.Benson & Co. Jan.15,'98,2~ 2,220,000 4 scrip. J. & J. do do Jan.15,'98, 2 68,578 No int'st . .......... --..... .. ioo 8,073,800 ...... ··-·· . .......... 100 . .... 3,0 6,200 ...... ······-100 7,444,190 ....... --·· 100 21,192,545 ...... ···1·· M'thly. ...... 1,123,177 New York City. 1s9s~iiio1 is96 £100&c 969,697 1901 g. Sem•an. London,R.Benson & Co. 484,848 1897 Various Semi an Regis tered below. May -J'ly,1902 90,000 1896 M'nthly 6 New York. 1898-1906 ---·-1,500,000 1897 $500&0 6g J. & J. New York. Jan . 1, 1927 100 10,500,000 . ... ...... .......... . ··-·· 100 3,883,750 ·-·· 1,000 3,000,000 1880 6 J. ..&.. J. N. Y., Chase Nat. Bank Juiy·i·,--i910 1,000 2,300,000 1881 6 g. F. & A. do do Aug. 1, 1911 1,000 2,909,000 1897 5 g. J. & J. 1st coup. due Jan. 1',98 July 1, 1947 1,000 4,700,000 1897 6 g. J. & J. do do July 1, 1947 100 450,000 . .... 1,000 225,000 is95 J . ··&·n. Detroit, Union Tr. Co. Dec. 1, 190 0 July 1, 1 91 4 ... ....... J. & J. 6 590,000 ---· 1897 Moh. 1, 191 7 Chicago, Ill. i:c>"<>o 1,200,000 5 g. M. & s. 1,000 1897 July 1, 191 7 do do 5 g. J. & J. J ,310,000 100 46,026,600 5 in 1897 & 0. N. Y. 0 lfice,30 B,oad St. Oct. 21,'97,3% 100 31,066,400 per an. A. & O. . ... Oo.21'97, 312% do do 195 195 1868 1868 815 1889 ··-· .... ..... .... ..... ..... ... . ·-·· .... ..... ...... .. .. ..... .. . . . ---· ..... 288 158 512 512 45 .... ---··-· ..... ---· ---- 100 100 ----· ---·· ------------------- ----- --· --------------- i ....... --· ...6.g. ---- IA. i7 1,000 1,000 Chicago & Erle KR.-( See Map ErieRR.J-Owns from Marion, 0 ., to Hammond, Ind., Z49 miles, and leases trackage over Chicago & West. Indiana to Chlcago, 20 miles. Practically merged in Erie RR. Co. BoNDs.-The fi1•st mortgage (trustees Central Trust Co. an.d Ed ward Daniels) covers 249 miles of road, the contract with the Chicago & Western Indiana, $1,000,000 of that company's stock and $240,000 stock of Chicago Belt Ry. See abstracts V. 51,p. 911, V. 61, p. 750. Chicago Fort lUadlson & Des Moines Ky.-Road completed from Fort Madison to Ottumwa, Ia., 71 miles, in December, 1892. Capital stock June 30, 1896-authorized, $5,000,000; outstanding $1,970,200; par, $100; the funded debt was $1,387,750, of which $74,750 was income bonds; current liabilities were $29,009. fn year ending June 30, 1896, gross, 95,961: net, $31,759; interest ($65,650, or which 50 per cent was paid with income bonds), $32,825; balance, deficit, $1,066. In 1894-95, gross, $91,809; net. $32,614. Chicago~ Grand Trunk Ky.-Owns from Port Huron, Mich., to Elsdon, 326 miles; leases Grand Trunk Junction Railway, 4 miles, and trackage Chicago & West. Indiana, 5 miles; total, 335 miles. Stock, $6,600,000 in $100 shares. The Grand Trunk of Canada giv~s a traffic guarantee of 30 per cent of its gross earnin~s on inter• changed traffic,- Third mortgage for $6,000,000 was authorized in April, 1893, but'will not be issued to the public. On Jan. 1, 1897, bills payable were $54,565; int. due Jan. 1, $22.J.,656; sundry outstanding accounts and wages, $1,989,960; contra cash $209,619; "sundry assets", $563,133, and outstanding traffic balance, $101.049. Grand Trunk of Canada ownPd June 30, 1897, £260,000 firsts, £605,753 seconds and $5,806,322 stock. EARNINGS.-(11 mos.), <1897 ....... Gross, $2,791,336: net, $345,208 5 1896 ....... Gross, 2,859,436; net, 251,506 Jan. 1 to Nov. 30. For year ending Dec. 31, 1896, gross earnings were $3,151,930; n et• $273,256; interest on bonds, $660,000; rentals, etc., $207,395; balance• deficit, $594,139, paid by Grand Trunk of Canada under traffic agree· ment. In 1895 gross, $2,796,178; net, $99,371. (V. 60, p. 794.) Chle.ao-o Great Western Ky.-(See Map.J-Ro.A.D.-Operates the "Maple ~eaf" route, radiating from Oelwein, Ia., northerly to St. Paul, easterly to Chicago and southerly to Kansas City, and embracing: Miles. Trackage, Ptc. Miles. Lines Owned St. Paul to Minneapolis........ 11 Chic. St. P. & Kan. City Ry.Chicago terminals (V.65, p. 521) 10 Chicago to St. Paul, Minn., and St. Joseph, Mo ......... 690 Dubuque to Aiken .............. 16 Branches to Hayfield, etc .... 1311 Des Moines terminals.......... 3 Bee Creek to Beverly (no bds.). 23 Leavenworth to Kansas City.. 46 I I Total operated .................................. .. .................. 930 The Leavenworth Terminal Ry. & Bridge is used into Leavenworth. HISTORY.-The Chicago St. Paul & Kansas City was organized in May, 1886, and in December, 1887, merged with Minnesota & North western, chartered in 1854. First mortgage coupons, Jan. 1, 1890, t,o July 1, 1892, inclusive, were funded into priority loan J'or $2,823,150. In August, 1892, reorganized per plan, Vol. 55, p. 856. Each $1,000 of Minn. & N. W. and Chi. St. P. & K. C. first mort. bonds was given $500 debenture stock and $600 pref. "A" stock. On Sept. 7, 1893, the Chicago Great Western Co. having thus become the owner of over 97 per cent of the 1st mortgage bonds and over 99 per oent of the general mortgage bonds, acquired by deed the title of the Chicago St. Paul & Kansas City Ry. (815·67 miles), subject to the mortgages, the bonds which it owns being kept alive. It also acquired the title to theLeav. & St.Joseph Ry. (23 mlles).whlchisunenoumbered. SECURITIES.-The holders of debenture and preferred A. stock ap· point the :finance coi:µmittee, which exercises general supervision of finances. Additional securities of said issues can be put out, but only with consent of a majority of both said classes of stock present at a meettng. 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 several classes in case of liquidation will have principal paid in gold, according to their priority right to dividends. At extraordinary general meetings of holders of debenture stock and preferred A stock collectively, holders of o,ie-tenth of said stocks outstanding, present or represented, constitute a quorum and by a majority vote have power to sanction any modification of the rights of said stocks. The provisions of the several ola ses of stock and of the trust deed were fully set forth in the editorial article of the SUPPLEMENT for October, 1897, pages 4 and 5. New Debentur e Stock.-Meeting held January 12, 1898, to increase authorized 4 p. o. debenture stock from $15,000,000 to $30,000,000 The purpose is to devote the proceeds" to redeem at the discretion of the finance committee from time to time, as opportunity offers at or before maturity, any or all of the liabilities of the company, which are a charge prior to the 4 p. c. debenture stock," and for improvements.-V. 66, p. 133. On New York Stock Exchange in October, 1897, $13,300,000 debent ure stock had been listed. Cash interest will be resumed on all the debenture stock when the $333,625 debenture scrip on hand Sept., 1897, shall have been paid out in interest for dividends if declared] per arrangement of 1894 (V. 59, p. 470); $2,220,000 of the debentures receive their interest in scrip absorbing $88,800 thereof yearly. DIVID ENDS-The company paid interest on all debenture stock in cash 1 93, 4 p. c., and in oash to holders subscribing and in scrip to https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $546,000 5,454,000 6,000,000 1,671,000 :1 220,000 8 7·3 do do F. & A. F. & A. do do Feb. 1, 1S9 8 Feb. 1, 1898 non-subscribers in 1894 and since, 4 p. o. No div. on preferred to July, 1 97. Explanation as to dividend payable in scrip in V. 65, p. 823. GENERAL FINANCES.-The company has been spending a considerable sum for the reduction of grades, etc., $737,000 from sale of sterling notes and from earnings having been so applied in 1896 and 1897, and $182,000 for ballasting, etc .. from other sources. Six per cent ::iar trusts <issued in 1896). $100,000. See other facts in V. 64, p. 286. As to increase of 4 p. c. debenture stock issue from $15,000,000 to $30,000,000, eee paragraph above. EA.rtNINGS.-(5 months),< 1897 ...... Gross, $2,398,094; net, $798,158 51896 ...... Gross, 1,978,526; net, 533,220 July 1 to Nov. 30. ANNUAL REPORT.-Report for 1896-97 was given at length in V. 65, p. 512, 521, showing earnings as follows: 1895. 1896. 1897. Year ending June 30. $3,636,098 Total gross earnings ............. $4,680,859 $4,709,820 $699,349 Net income................. $1,100,272 $1,255,577 $4A8,616 $136,602 $434,207 Rentals (incl. equipment)...... 141,158 141,158 141,158 Interest priority loan... . ........ 26,362 45,334 69,594 sterling, etc .. loans..... do • Int. in cash on 4 p. c. deben. 303,354 321,908 t364,541 stock... ....... . ... .... . . . . . . . . . --- $310,575 df. $220,141 $90,772 Balance....................... t Also interest amounting to $118,411 were provided for with scrip convertible into debenture stock at par. A. B. Stickney, President, St. Paul, Minn. New York Transfer office, 18 Wall St.-(V. 65, p. 460, 512~ 521,823; V. 66, p. 133.) Chicago Hammond & Western KK.-A. belt line around Chicago from Hammond to La Grange, Ill., 35·20 miles and extension La Grange to Franklin Park, 8·87 ·miles. The Terminal RR. from Chappell to Union Stock Yards, 10·12 miles, is operated by C. H. & W.-see Miohi~an Central. Total operated in Jan., 1897, 45·32 miles. Intersects nearly all the roads entering the city. From Blue Island (double tracked in 1897) the 13·88 miles McCook, to a tracks of the old Calumet Terminal are used under long-time lease. In September, 1897, control was purchased by Chicago operating of intention with Oo. Yards Junction Rys. & Union Stock the road in connection with its terminal roads under title of Chicago & Indiana State Line Ry.-V. 65, p. 367,411. Capital stock. $1,500,000. First mortga~e is for $2,500,000 (trustee, E. Francis Hyde, N. Y.); entire capital stocks of Hammond & Blue Island RR. ($400,000) and H. & B. I. Ry. of Indiana ($80,000) are depo ited as security for the C. H. & W. firsts. Bonds for $150,000 are reserved to pay off equipment tru ts and $500,000 for extension to Franklin Park, etc., and $450,000 for terminals, new tracks, etc.-V. 64, p. 287. Equipment trusts in 1897, $125,000. President and General Manager, J.P. Lyman, 218 La Salle Street, Chicago, Ill.-(V. 64, p. 135, 286; V. 65, p. 367, 411.) Chicago & Indiana State Line Ky.-Organized to operate the switching and terminal transfer roads owned or controlled by the Chicago Junction Railways & Union Stock Yards Co., including the Chicago Hammond & Western RR. (which see), control of which was reported purchased in Sept., 1897.-V. 65, p. 367,411. Ohlcago Indianapolis & Louisville Ky,-(See Map.J-O:per ates the ·• Monon Route" from Chicago, Ill., via Monon, Ind., to Indianapolis, lnd., and Louisville, Ky .• with branches-the system including: Mites Oper. under contractMiles. Lines ownedIndianaStateLinetolndianap.162 Chicago to Ind. State Line ..... 20 New Albany to Michigan City .289 New Albany to Louisville...... 5 Bed!ord to Switz City .........• ,u Connection in Indiana.polis.... 2 Orleans to Fr. Lick Springs.... 181 Total of all ...........•...... 537 A lease for 999 years with Chicago &Western Indiana (of who11e stock this oo. owns $1,000,000) gives entrance to Chica.go on a mileage basis HISTORY.-Successor July 1, 1897, of the Louisville New Albany & Chicago Ry., foreclosed and reorganized per plan in V. 63, p. 922. STOCK.-In the reorganization, holders of the $9,000,000 old common buying 212 p. o. new preferred at par received 3313 per cent in new common, and the holders of the $7,000,000 old preferred buying 712 o. c. of new preferred at par received par in new common stock. BONDS.-Refunding-mortgagebears interest from July 1 , 1897, and is secured upon all the road, equipment and securities owned (mcludlng $1,000,000 stock of the Chicago & Western Indiana. and $240,000 stock of the Belt Ry. of Chicago), subject only to the $5,300,000 exiut· ing divisional bonds; total authorized issue is $15,000,000, of which reserved to take up existing divisional bonds at maturity, $5,300,000; to be issued only for betterments and equipment, not to exceed $300,000 in any one year, $2,091,000. Trustees are Central Trust Co., N. Y., and James Murdock, of Lafa yette, Ind. GE. ERAL FINANCES.-The reorganization in 1896·97 reduced the a.nnual fixed charges from $1,019,486 to $955,450, including rentals, but not the preferred stock dividend ($155,350). It also provided $2,100,000 cash, of which $700,000 for new terminals, air-brakes and other improvements, the remainder for floating debt, etc See statement to N.Y. Stock Exchange in July, 1897.-V. 65, p. 194. Listed to Oct. 25, 1897: Refunding 5s, $2,717,000; refunding 6s, $3,509,000. I MAP OF THE CHICAGO, MILWAUKEE ~ - ~ ~ ~ST.PAUL RAILWAY 6, 1 51 Miles in N https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' 36 SUPPLEMENT. [VOL, LXVI. Snbscribers -w-ill confer a great favor by giving immediate notice of' any error discovered in these Tables. Bonds-PrinolINTEREST OR DIVIDENDS. RAJLROADS. Miles D a te Size, or pal,When Due • .A.mount P ar of FoF explanation of column h eadings, &c. , see notes of Outst a nding Rate When Where Payable, and by Stocks- Last Per cent. P a y a ble Whom. on first p a ge of t a bles. Dividend. Road. \Bonds. Value. __,__ Ohicago Milwaukee cf: St. Pau i-( Oon clu dedJMilwaukee & St. P a ul loansIowa & Dakota 1st M. , conv. into pref. stock .. • c 126 River Div. (St.P.&C.) lstM. con. intopf.stk.g.o* 129 Hastings & Da kota 1st M. , conv. •nto pref. st'k ..... Chio. & Mil. 1st mort. (conv . into pref. stock) .. o* 83 Chicago Milwaukee & St. P aul loansPrior lien consols, convertible into pref .... . .. 1,435 Consol. mort., oonv. into pref. stock . . .. ..... . c* l,435 I. & D. Ext. 1st M., convert. into pref. st ock.c* 335 8. W. Div. 1st mortgafe Western Union RR .. c* 212 So. Minnesota Div. ls mortga ge ....... . ...... o* 419 Mineral Point Division 1st mortfage ......... c* 133 Hast. & Dak. Div., extension, l s mortgage . . c* 395 do do do c* 395 Lacrosse & Dav. Div. 1st mortgalf:····· ...... c* 185 Wiso.Val.RR.Co. lstM., Tomah to errill, Wis.o 107 Wis. Val. Div.1st M. s. f., not dr'n . . ...••• . o* 161 Dub. Div. 1st M., s. f., not dr'n ... . ........... c~ 351 Chio. & Pao. Div. 1st M. (Chic. to Kittredge) .. o* 120 do Western Div. 1st mort., (see text) gold . o* 1,117 Chio. & Lake Superior Div. 1st mort., gold .. . o• 68 Wis. & Minn. Div. 1st mortga ge, gold . .. ........ 230 Fargo & Southern 1st mort., gold, assumed . ...... 119 Ch. Mil. & St. P. Terminal mortg ~e, gold .. ... . o* Dakota & Great Southern 1st mo gage, gold..... Chicago & Missouri River Div. 1st mortga ge . .. c· 77 Ino. M.,convert., s. f. $80,000 yearly (dr. at 105)0,.. 525 Gen. mort. (for $150,000,000), gold Series .A..o*&r 5,722 Milw. & North'n 1st mort., Schwarz.to Gr. Bay.. o.. 126 Consolidated mortg a~e ......... ....•.......... c* 362 Chicago ct Northern Pacific-S EE CHICAGO TER.l\fl NAL T i59 ---- --- 1869 $1,000 1872 $& £ isfa i:ooo 1874 1,000 1875 1,000 1,000 1878 1,000 1879 1,000 1880 1,000 1880 1,000 1880 1880 1,000 1879 1,000 1879 500 1,000 1880 1,000 1880 1,000 1880 1,000 1881 1,000 1881 1,000 1881 1,000 1883 1,000 1884 1,000 1886 1,000 1886 1 ,000 1886 1,000 1889 1,000 1880 1,000 1884 RA.NSF ERRR. EARNINGS.-(4 mont h s), ( 1897 .. ... . Gr oss, $1,247,051; n et, $ 4 69,036 July 1 to Oct. 31. 5 1 896 ..... . Gros!', 1,0 12,208 ; n et, 323.402 July 1 to March 31, 9 months, gros~, $2,110,070 in 1896·7 against $2,463,156 in 1895·6. ANNUAL REPORT.-Fisoal yea r ends June 30. Report of old company for 1895-96 was given in V. 63, p. 500, and showed: 1895-96. 1894-95. 1893-94. 1892-93. Gross earnings ..•...•. $3,291,972 $3,067,014 $3,135,882 $3,416,488 Net earnings.......... 1,111,583 996,104 1,017,272 1,060,622 Dividends received... 70,800 78,600 60,000 74,400 Total net income. $1,182,383 $1,074,704 $1,077,272 $1,135,022 Oharges of New Oompany.-Old divisional bonds, $318,000; new refunding mortgage 5s and 6s, $427,450; r entals, estimated, $210,000; total charges, $955,450; dividend on preferred, $155,350. 0FFIGERS.-8amuel Tnomas, .PreAident; W. H. McDoel, Vice.President and General Manager; E. R. Thomas, Vice-Pres.; John A.. Hilton, Secretary and .A.s. Treas.; W. H. Lewis, Treasurer and Assistant Seo. DIRECTORS.-Samuel Thoma s, John Greenough, John G. Moore, Edward R. Thomas, Gilbert B. Shaw, W. H. McDoel, ,James Murdock, Crawford Fairbanks, V . T. Malott. C'alvin S. Brice andE. C. Field. York office 80 Broadway.-V. 65, p. 26, 194.) Chicago Kalamazoo & Sa~lna,v Ry .-Projected from Kala• mazoo, Mich., to Saginaw, Mich., 125 miles, of whioh 45 miles. Kalamazoo to Woodbury, in operation. In December, 1895, $'150.000 stock-was outstanding. The first mort~a ge is for $225,000 to Union Trust Co. or Detroit, as trustee. In 1895 gro.ss, $49,307; net, $16,769. Operated by Kalamazoo & Hastings Construotion Co. (V. 61, p. 1063.) Ch1ca!!o Lake Shore & Eastern Ry.-Said to opera te about 366 miles of track, affording access to the important railroads ;reaching Chicago, Milwaukee and Joliet, and aleo to steamboat lines, stone quarries, indostrial e stablishments, etc. Formed m 1897 by consolidation of Calumet & Blue I sland Ry. and C. L. S. & E. Railway (of Indian a). Capital stock is $250,000. B ON DS. -The following divisional bonds. a ll 6 p. c., due July 1, 1914, Wf're out.standing in De c., 1897 ; Chicag o & Kenosha Ry .. $120,000 ; Chica go & South Eastern, $270,000; Joliet & Blue Isla nd, $200,000. First mortgage of 1897 is for $1,200,000; bonds are redeemable at p a r on interest days unon 60 days notice . Equipment mort~a ge is for $l.3 l0,000; sinking fund is $60,000 per .annum on and a fter July l, 1901 ; bonds r edeemable at 105 at any time; mortgage covers road (subject t o first mortgage) and also i s a fl.rat lien on 39 locomotives, 2,138 box-cars a nd 787 coal, flat, &c., .cars.-V. 62, p. 868; V. 64, p. 422. Chicago lUihvaukee & St. Paul Ry . - ( See Ma).).J-Operates from Chicago westerly to Omaha, Neb., and Kansas, City. Mo., with lines, traversing Wisconsin, Minnesota and the Dakotas, inoluding:Road. Mi les. Road. Miles. Lines owned (of which 11 Trackage 1st, 2d & 3d tra ck 62 miles owned jointly) in2nd & 3rd tracks...... ...... 207 HlsTORY, &c.-The Milwaukee & St. Paul RR. Co. was organized May 51 1863, and on Feb. 11, 1874, took its present name. The system has emoe been greatly extended by the construction and acquisition of other lines. The stock of the Milwaukee & Northern was acquired in September, 1890, in exchange for common stock, and in Sept., 1893, the sale of the M. & N. to the St. P a ul was ratified. CAPITAL 8TOCKS.-The preferred stook has a prior right over the oommon stock to a dividend of not over 7 per oent from net earnings in ea.oh year, but if not earned it has no cumulative right. After payment af 7 per oent on preferred and 7 on common~both classes share pro rata. Common stock authorized, $47,062,560. .rreferred stock on July 1, 1889, was $21,610,900, and it has been increased to preAent figures by exchange of convertible bonds for stock. In Dec., 1897, $20,160,000 prior lien bonds outstanding were excha ngeable for preferred. DIVS. since 1889. } 1890. 1891. 1892. 1893. 1894. 1895. 1896. 1897. On common. 0 0 2 4 4 2 4 5 On preferred. 7 7 7 7 7 7 7 7 On common in 1897, April, 2 p. c.; Octobe r, 3 p . c. , of w hich 1 p. c. was extra . V . 65, p. 462. BoNDs.-Abstracts of some of the principal mortgages were publttihed in the CHRONICLE, v. 45, pp. 85, 114, 144, 212, a nd V. 48, p. 830. The following bonds are convertible in to prefer red stoclc at any time within ten days after a dividend shall have been decla red and become payable on the preferred: Iowa & Dakota E x tension 7s, River Division 7s, Chica.go & Milwaukee 7s or 1903, Hasting & D a kota 7s of 1903 and Ch. Mil. & St. P. consols of 1875. The consols of 1874 also are convertible into preferred within 15 d ays after dividend day. The c onvertible bonds were fully described in SUPPLEMENT for Mar. '93, p. 2. Ohicago & Pacific Western Division 1st 5s were issued at $20,000 per mile for road, with additional amounts for equipment and bridges; no further bonds can be issued. The mortga ge covers the tollowing miles of road: Farley, Ia., to Kansas City, Mo., 341 miles; Marion, Ia., to Council Bluffs, I a ., 262 miles; Astor, Ia., to Aberdeen, North Dak., 352 miles; branches 162 miles; total, 1,117 miles. Terminal five per cent bonds of 1884 oover terminal property of several hundred uores in Chicago and Milwaukee. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I $3 40,000 3,175,500 89,000 2,1 88,000 183,000 10,768,000 3 ,417,000 4,000,000 7,4 32,000 2,840,000 5,680,000 990,000 2,500,000 1,106,500 2,249,000 6,309,000 3,000,000 25,340,000 1,360,000 4,755,000 1,250,000 4 ,748,000 2,856,000 3 ,083,000 1,291,000 24,857,000 2,155,000 5,092,000 7 J. & 7 g. J. & 7 J. & J. & 7 7 7 7 6 6 5 7 5 5 7 6 6 6 5 5 5 6 5 g. g. g. g. g. g. g 5 4 g. 6 6 J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. J. N.Y.,0ffice,30 Broad St. J. London and New York. J. N. Y.,Office,30 Broad St. J. do do & & & & & & & J. do do J. do do J. do do J. do do J. do do J. do do J. do do & J. do do & J. do do & J. Boston, Lee Higginson. & J. N.Y. Office, 30Broad8t. & J. do do & J. do do & J. do do & J. do do & J. do do & J. do do & J. do do & J. do ilo ,· o & J do & J. do 00 & J. do do & D. N.Y., Ch.Mil.& St.P.Ry. &D. do do July Jan. Jan. Jan. 1, 1, 1, 1, 1899 1902 1903 1903 Jan. July July July Jan. July Jan. Jan. July Jan. July July Jan. Jan. July July Jan. July J an. Jcty Jan. May June June 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1904 1905 1908 1909 1910 1910 1910 1910 1919 1909 1920 1920 1910 1921 1921 1921 1924 1914 1916 1926 1916 1989 1910 1913 The " income" bonds of 1886 are convertible into common stock within 60 days after any dividend day, and have a sinking fund, $80,000 of them heinl? drawn yearly at 105 if not obtained for less. The gen e1·al m ortgage of 1889 (see abstract 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 rail way 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, 1897, the following amounts of general mortgage bonds llad been i ssued or were reserved for the purpose indicated, viz :Listed on New York Stock Exchange.................... $20,488,000 Unlisted (issued), and in treasury of the co. (unsold) . .. 4,369,000 Total given as outstanding ............ . .. . ........... . Reserved for prior liens . ......... . ................. _..... . Originally reserved for prior liens, which nave since been} convertl'd into pref. stock. Will eventually become available for improvements. (See also below) ....... . A. vailable :tor improvements, etc. (see also below) . ..... . $24,857,000 105,659,000 10,469,000 9,015,000 Total authorized............... . ....... . ......... . . . . . . $150,000,000 The $24,857.000 outstanding include $6,000,000 issued to pay for 178 miles of sundry small branches on which the general mortgage is a flrst lien, and to retire the $2,500,000 first mortgage bonds or Chicago Evanston & Lake Superior Ry., a Chicago suburban road, also $4,035,000 issued to replace prior bonds paid and canceled. The $9,015,000 "available for improvements, etc.," of bonds above mentioned are applicable for premiums paid in retiring or refunding convertible and other prior lien bonds bearing a higlier rate of interest than 4 p. c. 1Jor cost of branches, second and side tracks, real estate, bridges, rolling stock, equipment, etc. On July 1, 1897, of the prior lien bonds outstanding, $22,315,500 (maturing 1897-1908) were convertible into preferred stock; if from time to time so converted they will set free a like amount of general 4s which, with the $10 ,469,000 reserved against bonds already converted, will hecome available for improv ements, additions, etc., as soon as the balance ($9,015,000) of the amount ◄,,riginally reserved for improvements has been so expended. V. 48, p . 830; V . 50, p. 205. N. Y . Stock Exchange to October, 1897, had listed $21,117,000 generals-me "General Fina n ces " a nd V. 65, p. 462. GENERAL FINANCES, &c.-Dividends on common stock were resumed in October, 1892. See "dividends" above. Average freight train load in 1896-7 was 167 tons; rate per ton per mile, 1·008 cents; in 1895-6 train Load, 167 tons; ton rate 1·003 cents. Generals for $2.500,000 were in July and Se ptember, 1897, authorized to b e listed from time to time. making total $21,510,000; the bonds were sold for improvements and retiring prior bonds. EARNINGS.-5 months, ? 1897.. . Gross, $15,613,198; net, $6,278,571 July 1 to Nov. 30. { 1896 . . . Gross. 14,167,405; net, 5,543,868 ANNUAL REPORT.-Fiscal year ends June ao. Annual meeting is lleld in September. Report for 1896-97 was given in full in V. 65 , p. 460, 4 64. See also editorial, p. 440. 1896-97. 1895-96. 1894·95. Miles operated June 30.. .. . •.• 6,154 6,151 6,169 Passenger earnings ....... . ... . • $5,717,496 $6,147,679 $ 5,852,781 Freight earnings.... .. .......... 22,104,803 23,887,930 18,978,263 \l&il, express, &o., earns....... 2,664,469 2,646,220 2,504,325 'l'otal earnings ...• . •........ $30,486,768 $32,681,829 $27,:c;35,369 .Expense.~ Maintenance of way ...... . ....• $4,334,955 $4,374,724 $3,703,466 Maint. oars and engines . .. . . .. . 2,464,839 2,942,295 2,085,309 l'ransportation, gen. exp., etc .. 9,898,952 10,529,853 9,748,364 l'axes ............. . ............. . 1,184,231 1,082,084 1 ,0 84,700 Renewal account ... _.. _........ . 200,000 350,000 i2i;iff,i 494,562 397,851 \1:iscellaneous .................. . Total e:xpem,es ...........•.. $18,577,539 $19,676,808 $17,043,753 Net earnings ....... . ....•.. . . . •. $11,909,229 $13,005,021 $ 10,291,616 Perct.ofop.exp.toearns..... . . (60·94) (60·21) (62·35) Otherincome.................... 162,822 64,857 134,647 Total n et income .... . ...•... $12,072,051 $13,0 69,878 $10,426,263 Interest on debt . ................ $7,488,747 $7,611,928 $7,629 ,377 Mis cellaneous................... 57,560 B al a nce for dividends ...... $4,583,304 $5,400,390 $2,796,886 DIVIDENDS PAID DURING FISCAL YEAR. Common .............. •....... (4 )$1,841,090 (3)$1,380,817 (3)$1,380,818 P r eferred . . .................... (7) 1,896,363 (7) 1,846,315 (7) 1,818,802 Total dividends ...•......... $3,737,453 $3,227,132 $3,199,620 - (V . 65, p . 26,409,440,460,462,4 6 4,778; V. 66, p. 81.) Chica~o & Northern P acific RR.-Reorgaoized on J uly 1, 1897 as the Ch10ago Terminal Transfer RR., which see. 37 STOCKS AND BONDS. J .ANUARY, 1898,] Subscribers -will confer a e;reat favor by giving 1.Jn.mediate notice of any error discovered in these Tables. Bonds-PrinolINTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or pa.l,When Due. Amount Rate per When Where Par of Stocks-La.st or explanation of column headings, &c., see notes of P-Miable, and by Road. Bonds Value. Outstanding Cent. Payable om. Dividend. on first page of tables. hicago & North Western-Common stock ...•.. 4,273 Preferred stock (7 j' o. yearly, not cumulative) .. 4,273 Bonds issued, an assumed by Ohic. cf N. W. Ch. & N. W. con. s. f. M. ($12,900,000), not dr'n.o" 788 Chio. & Mil. 1st M. Chicago to Mil. (assumed).. 85 Peninsular RR. 1st M., convertible............. 109 Cedar Rapids &MissouriRiv.-tstmort. 3d Div. 150 Mort. of 1884, Ced. R. to Des M. River......... 122 Iowa.Midl'dlstM.,LyonstoAnamosa(assumed) 71 Madison extens.lstM., g. (s.f. $23,000, not dr'n) 129 Menominee ext.lstM.iif.. (s.f. $20,000,not dr'n; 114 Northwest. Union 1st .,g.,Mil.to Fond•du-Lac. 62 Chio. & N.W. gen. consoLM., g., s.f.,notdr'no.*&r 1,637 New mortgage of 1897, see next page. Menominee River 1st M., two series (assumed)... 31 Mil. & Mad. 1st M., Mil. to Madison (assumed) .o* 82 Chicago & Tomah 1st mort., guar. (as&1umed) ... } 152 Chicago Milwaukee & N. W. construe. do ... 43 Esoanaba&Lake SuperiorRR. lstM., (assumed). 57 Des Moines & Minn. 1st M. ,Des M. to J ewellJo. ,&o. 64 OttumwaC.F.&Bt. P. lstM.($25,000p.m.), gu.. c* Northern IlL lstM. ($20,000p. mile),assumed .. o• 76 Mllw. L. Sh. & W., Consol. M. (now 1st) gold ... o* 413 Michigan Div. 1st mort. (for $3,000,000), g .. o.. 82 40 Ashland Division 1st mortgage, gold.......... o* Deben. (see text) secured by mort of '89, g . . . or 693 Ext. & Imp. M. for $5,000,000, g., s.f. not dr'n.c* 693 Income bonds (not cumulative) .............•.. r . . . . Ma,sb. Ex.lat M.for $600,000 ($15,000 p. m.). c• 40 St.P.E.Gr'dT.lst,M. . ,int. ·.byM.L.S.&W.o* 56 C.&N.W.s.f.b'ds of '79($!5,oo5';.m.)red.at105.o&r 1,041 Iowa.Div. lstM.for$1,411,000 ($20,000 p.m.)o" 71 In addition to bonds outstanding as above. t he sin I ..--- - - - ------· 1865 1863 1863 1866 1884 1870 1871 1871 1872 1872 $100 $39,087,383 5in 1897 J. & J. N.Y.,Co.'sO:ffloe,52Wall Jan.7,'98,212~ 100 22,367,600 7in 1897 Q.-J. do do Jan.7,'98,ll\i 1,000 1,000 500··&0. i'ooo 500 &o. 500 &o. 500 &c. 500&0. 12,832,000 1,700,000 68,000 2,332,000 769,000 1,350,000 b 2,977,500 C 2,546,500 d 3,365,000 12,336,000 7 7 7 7 7 8 7 7 7 7 g. g. g. g. 560,000 '76-'80 7 1880 1,600,000 6 1,528,000 6 11880 1882 e 601,000 6 720,000 1881 6 1,000 600,000 1882 7 1,000 1,600,000 1884 5 1,000 1,500,000 1885 5 1,000 5,000,000 1881 6 g. 1,000 1,281,000 1884 6 g. 1,000 1,000,000 1885 6 g. 1,000 436,000 1887 5 g. 1,000 4,148,000 5 g. 1889 1,000 500,000 6 1881 1,000 400,000 5 1892 1,000 1,120,000 6 g. 1883 1879 l,000&o 12,828,000 5 & 6 1,000 1,411,000 41g 1891 king f und Jun e 1, 1897, held b., $17 i:ooo -----i:ooo Q.-F. J. & J. M.& 8. M.&N. J. & D. A. & O. A. & 0. J. & D. M.& 8. J. & D. do do do do do do do do do do J. & J. do M. & 8. do M.&N. do M.&N. do do J. & J. F. & A. do M.& 8. do M.& 8. do M.&N. do J. & J. do M.& 8. do F. & A. do F. & A. do M. & N. do A. & 0. do J. & J. · do A. & o. do A. & O. do 2,500; c ., $150,500; d., do do do do do do do do do do Feb. 1, .July],., Sept. 1, May 1, June 1, Oot. 1, Apr. 1, June 1, June 1, Deo. 1, do do do do do do do do do do do do do do do do do do $135,00 July 1, 1906 Sept. 1, 19(),5 Nov. 1, 1905 Nov. 1, 1905 July 1, 1901 Feb. 1, 1907 Moh. 1, 1909 Moh. 1, 1910 May 1, 1921 July 1, 1924. Moh. 1, 1925 Feb. 1, 1907 Feb. 1, 1929 May 1, 1911 Oct. 1, 1922 Jan. 1, 1913 Oct. 1, 1929 Apr. 1, 1902 0; e., $149,000 1915 1898 1898 1916 1909 1900 1911 1911 1917 1902 Chicago & North Western Ry.-(See Map.J-Operates an im· \ maturing up to Dec. 1, 1902. If the entire issue or $20,000,000 is re iportant :1ystem of roads uniting Chicago, Ill., with Omaha, Neb., St. quired to refund these old bonds the saving in interest charges will be Paul Minn., with the great wheat belts or Dakota, Nebraska, etc., and a.bout $530,000 per annum-see" bonds" above and V. 65, p. 69, 111. with the mining regions of Michigan and the Black Hills, including- Maple River first 7s for $402,500 fell due July 1, 1897. Road owned in feeMiles. Oontrolled by stock, Mi les. The $~,628,000 Sioux City ~ Pa~ifl.c l st ~s due Jan. 1, 1898, have .Main lines. etc ................ 3,085 operated separatelybeen retired, but the mort~ag:e 1s s~ill held allve. . Milwaukee Lake Shore & w... 757 Fremont Elk Horn & Mo. Val.1,301 For the elevation of trac.irs m Chicaizo $530,387 was BI?ent m ~896·7. Entin stock ownedSioux City & Pacific.......... 107 V. 62, p. 456; V. 63,_p. 228. In 1~96·97 the average fre1gh~ tram load Winona & st. Pe,er .... · ...... 449 Wis. Nor. (V. 65, p. 235).. .. . 47 was 15112 tons, agamst 141 tons m 1895·6; rate per ton mile, 0·99 of Dakota Central............... 724 j _ _ a_ cent. In calen_dar year 1895 of 16,215,091 total tons or freight oar• Princeton & Western......... 16 Total or all .................. 6,486 i~d, ~rain furmshed 8·7 p. o., coal 10 p. o., ores 29 p. c. and lumber - - , 2d track............... . ...... 443 p. o. Total incl. in earns ......... 5,031 Also has large inte1·est in ChiLA.TEST EARNINGS.-Jan. 1 to Nov. 30, 11 months, gross, $30,798,960 cago St. Paul Minneapolis & in 1897; $29,730,715 in 1896. . I Omaha, 1,492 miles. ANNUAL REPORT.-Fisoal year ends May 31. The annual meeting is HISTORY, &c.-'1:'he Chicago & North Western Railway was organized held the first Thursday in June. The report for 1896·97 was given at tn 1859, and ha-s smce absorbed_ many other roads. length in v. 65, p. 274, 279. See also editorial, p. 257. In December, 1882, a controlling interest was acquired in the stock of The following statistics are for the Chicago & Northwestern proper; the Chicago St. Paul ~eapolis & Omaha Co., which see. the statistics of the Fremont Elkhorn & Mo. Valley are given further In July, 1884, the capital stocks (~xcept.a few shares) of the Fre- below and in the CHRONICLE v. 63 p. 309. mont Elkhorn & Mo. Valley and the Sioux City & Pacific were acquired . ' ' 1895. 1894. on the terms stated in the SUPPLEMENT of June, 1885, and prior issues. Year ending May 31. 1897. 1896. Their securities, except those heM. bv Chio. & N. W .. are in table above. Average miles oper.. 5,031 5,031 4,841 5,031 In December, 1891, the Milwaukee Lake Shore & Western RR. was Passenger earnings .. $6,963,578 $7,408,827 $7,044,691 $9,226,467 bought by an exchange of stock, and on Sept. 1, 1893, it was formally Freight................ 22,236,612 24,354,622 19,484,415 21,284,929 merged mto the ClJ. & N. W., its stock canceled and all its liabilities Mail, express, &c .... 1,777,053 1,725,312 1,579,268 1,474,786 :and duties assumed. Bee V. 57, p. 375; V, 56, I>, 792. Total earnings ... $30,977,243 $33,488,761 $28,108,374 $31,986,187 CA.PIT.AL 8TOCK.-Of the common stock $2,333,608, and prefe1"red $3,795 remained in the oo's treasury in June, 1897. Pref. stock has a Oper. expenses ...... $18,877,089 $20,373,402 $17,503,917 $19,867,628 prior right to 7 p. o.; then common 7 p. c.; then preferred 3 per cent; Taxes................. 1,061,732 1,075,569 1,007,811 1,040,302 then common 3 per cent; then both classes share. Total expenses .. $19,938,821 $21,448,971 $18,511,728 $20,907,930 DIVIDENDS- '83. '84. '85. '86to'P3. '94. '95. '96. '97. '98. Common . . . .. 7 7 61g 6 yearly 3 4 5 5 Net earnings ...•..... $11,038,422 $12,030,790 $9,596,646 $11,078,252 Preferred.... 8 8 712 7 yearly to Jan., 1898, inclusive. P. o. exp. to earnings (64·37) (64·50) (65·86) (65·37) Investments, etc..... 964,310 671,638 652,274 431,673 Oommon in 1898-January, 21g per cent. BoNDs.-Refitnding Mortgage.-See Abstract in V. 65, p. 11'75. Total receipts .... $12,002,732 $12,711,428 $10,248,920 $11,509,925 "The authorized issue is $165,000,000 (United States Trust Co., trustee); Interest on debt ...... $7,115,701 $7,122,356 $7,071,135 $6,875,232 $131,640,000 are reserved to retire underlying bondi;:i, and remainder Dividends............ 3,517,057 3,125,546 3,906,594 itor additions and improvements, $4,000,000 at once and ~1,000,000 Sinking fund.......... 3,518,650 196,413 220,990 325,830 327,150 a. year thereafter. The bonds may be issued bearing uch rate of in-terest as shall be deemed advisable. See V. 65, p. 1070. The first issue T t ldi b •t $10 830 764 $10 860 403 $10 522 511 $11108 976 -of$20,000,000,bearin~3lgpercent(reg.interestQ.-F.,couponM.&N.), oa sursms. ' • • , , , • , has been sold to Kuhn, Loeb & Co., of N. Y.-see "general finances" Balance ....•..... sur.$1,171,968sr.$1,851,025def.$273,591sur.$400,949 '!below and V. 65, p. 69, 111, 571. FREJ\IONT ELKHORN & l\USSOURI VALLEY. The sinking fund bonds of 1879 are secured by deposit in trust of $15,000,000 of 1st mortgage bonds at $15,000 per mile on sub• Yr.end. May 31. 1897. 1896. 1895. 1894. sidiary lines, the most important being described in SUPPLEJ\1ENT of Gross earnings .....•• $3,051,982 $2,950,439 $2,666,642 $3,334,756 May, 1894. Of the sinking fund bonds of 1879 $61129,000 are 6s; Net earnings......... 793,839 893,670 692,834 1,093,852 the sinking fund is at least 1 per cent o:t outstanding bonds, which Total charges........ 1,020,941 1,022,469 1,025,029 1,028,308 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 have a sinking fund of $200,000 Balance......... . ... def.$227, 102def.$128,799def.$332,195 sur.$65,544. per year, if they can be redeemed at 105. These, as also the de· -V.65, p. 257, 2'7 4, 2'79, 571, 1070, 1113, 1172, 1175; V. 66, p. 81. bentures of 1884 and 1891, will be secured by any future mortgage Chicago Paducah & lUernphls RR.-In 1897 merged in the exceptin~ any mortgage "for the enlargement, improvement or exten• Chicago & Eastern Illinois. sion of the company's property." See description o:t all the debentures Chlca..,o Peoria k St. Louis RR. oC Illinols.-Owns from on page 2, SUPPLEMENT of April, 1805. The 25•year debenture mort- Pekin, 1 to Sprin~field, Ill., 77 miles; and Havana to Jacksonville, agage o:!'. 1884 was for $6,000,000, but reduced to present figures by ill., 42 miles, and Litchfield to East St. Louia, 48 miles; trackage, Pekin ,sinking fund purchases. to Peoria, 10 miles; Springfield to Granite City, 102 miles; total 279 The extension bonds of 1886 are secured by deposit in trust of first miles. Owns a one•quarter interest in the Peoria & Pekin Union. mortgage bonds a.t a rate not exceeding $20,000 per mile. Included in ORGANIZATinN.-A reorganization in February, 1896, of the C. P. & the collateral June 1, 1896, were $10,675,000 Fremont Elk Horn & Mo. Valley lsts and $2,560,000 Wyoming Central lsts [the Wy. Cent. hav· St. L. ky. sold in foreclosure, per plan V. 61, p. 365. (V. 62, p. 232,319.) St. Louis Chicago & St. Paul is controlled in same interests. i ng been consolidated with F. E. & M. V.], etc. To Jan., 1898, Extension 4s for $18,632,000 had been listed on N. Y. Stock Exchange, of DEFAULT.-The first mortgage coupons due .Tan. 1, 1898, were not which, June 30, 1896, $1,143,000 were held alive in sinking funds. See paid, owing to the burden of floating debt (amounting to $800,000), F. E. & M. V. bonds below. Union Trust Co. of N. Y., kustee. and bondholders were asked to extend time of payment for six months. The Fremont Elkhorn ct Missouri Valley oonsols have a, first lien on -V. 66, p. dl. 1,170 miles (Fremont Neb., to Deadwood, D. T., 557 miles, and Floating Debt June 30, 1897.-Bills payable, $837,187, secured by branches to Hastings, llbion, &o., 613 miles), but besides the amount collateral; pay.rolls and vouchers, $95,732. Company owns $201,000 of issue given as outstanding in the table $10,675,000 are held as part Jacksonville & St. L. income~ and $100,000 voting trust certificates. oollaterru. for Chicago & Northwestern extension bonds of 1886. The v. 66, p. 78. Northwestern assumed $3,600.000 of the Fremont Elkhorn & Missouri STOCKS AND BONDS-Common stock authorized $2,500,000; preferred Valley bonds and guarantees the rest. See guaranty V. 56, p. 650. p. o., non·cumulative, $2,500,000. The Milwaukee Lake Shore cf Western debentures of 1887 were by 5 ·rhe new first mortgage is for $5,275,000 to the Mercantile Trust Co. "their terms convertible into C. L. S. & W. stock, but North Western N. Y. as trustee. Of the $4,599,000 firsts given as outstanding in -,officials state that the bonds are not convertible into North West stock. of table above, $2,155,000 are out as collateral for loans (of $800,000 a.t The extension and improvement mortgage sinking fund commences in 6 p. o.) oar trusts (see V. 66, p. 78), leaving $2,444,000 drawing in1893, and will receive not less than $25,000 yearly ; these bonds are terest. and (V. 63, p. 791.) First mortgage bonds for $676,000 and $250,· --not subject to oalL 000 incomes are reserved for additional railway at $15,000 per mile. LAND GRANT.-The report for 1896·97 showed that the total considerOar Trusts.-On Dec. 1, 1897, over•dne car trusts amounted to $99, • . ation for the lands and lots sold in that year amounted to $141,215. 138, and $271,386 fall due part monthly to 1902.-V. 66, p. 78. Net cash receipts were $396,890. The statement of amounts secured The mort~age (Central Trust Co., N.Y., trustee,) is for $2,500,to he paid to the company by outstanding contracts of sale in force at 000 ofincome non•oumulative 4 per cents. The Railroad Company may a.t any the end of the fl.seal year showed a total of $924,1,.912. The lands time after July 1, 1897, and prior to July 1, 1899, convert this issue of nsold and unoontraoted for May 31, 1897, were 693,~26 acres. bonds into 3 per cents, constituting a fi.xed charge. The income GENERAL FINANCES.-Thefirstissue ot ($20,000,000) refunding bonds mortgage was originally for $4,220,000, but by agreement July 29,. t 319 per cent interest was sold to provide for $18,015,500 old bonds 1896, was limited to $2,500,000, and the balance of bonds canceled. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I -- Iil:' ---- MAP OF THE CHICAGO & NORTHWESTERN RAILWAY SYSTEM. 1895. Chicago & North-Western Railway St.Paul, Minneapolis & Omaha Ry, ■ ■ ■ ■ ■ w ■ ■ 1Fremont Elkhorn & Missouri Valley Railroad WWIIM&Wv\NSZS.Sioux City & Pacific Railroad __ - a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■ Chicago N JANUARY, RAILROAD 1898.] STOOKS .A.ND BONDS. 39 ,~=====================================================~ Subscribers w'lll con.fer a great f'avor by giving Immediate notice of' any error discovered In these Tables. Bonds-Prmol• RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or pa.I,When Due. A.mount of Par For explanation of column headings, &c., see notes of Rate When Where P¾1"ble, and by Stocks-La.at Outstanding Road. Bonda Value. on first page of tables. Cen . Payable om. Dividend. f"' <iJh~. &No. Western-(Oon.J-Sink.fd.deb.,1933.c*&r 25-yeardebenturea ........................... c*&r C. & N. W. 30-year deben. for $10,000,000 .. o*&r Extension 4a. $20,000,000 ($20,000 8_· m.) •. c&r Gen'l gold bowl, mort., $165,00n.oo . Us .. c*&r Bonds of Proprietary Lines. Winona & St. Peter ~u illvJ.·<41:i,,r•fl (TJOW lat) guar.. lat mort. extens., gold,land grant,s.r.,guar ... c' Minnesota Valley Ry. 1st mort~a~e ....... ....... Plainview RR. lat M. (Eyota to Plainv'w, Minn.) Roch.&No.Minn.lstM.,int.(asaumedby.W&St.P.) Dak. Cent. 1st M., gu. (Watert'n to Redfield,S.D.) Oak.Cent.lat M. on So'eastDiv. (to IIawarden) gu. Frem. Elk. & M. V. consol M. $20,000p. m. see text. Sioux t,'ity & Pac. pref. stock (1st mort. on 6 m.). lat M. Sioux City to Fremont (assumed.) ...... 2d M.Gov't lien (accr.int.Jan.1,'98 $2,563,650.) t[)hicago Peoria & St. L.-lst M., $5,275,000, g. c*&r. 2d mtge. non·cum. incomes, gold (see text). c* &r. Chwg@Rockisland&Pac.-Stock (for $50,000,000) 1st mort., Chic., Ill., to CouncilBluffs&branches.c* Chio. & Southw. 1st M. (g'd in cur. by C.R.I.&P.). 1st M. ext. and col. ($20,000 ~· m.) red. at 105 .• c&r Debenture bonds (redeemab eat 105) ....... o*&r. Refunding mortgage, $100,000,000, gold.C.c*&r Ohu°t_o St. Paul Minneapohs & Omaha-Com. stock. Pre erred stock, non·oumulative (see text) .....•• St. Paul Stillwater & Taylors' Falls 1st mort .... o Rud. & River Falla lat M.,Hudson to River Falls. o Ch.St. P.&Minn. lstM.,,,ElroytoL. Bt.C.ass'd.o,. Bt.P. &Si'xC. lst.M,g.( 7,000,000)$10,000p.m.o In addition to the bonds outsta.nding as above, C., $521,000 (and $110,000 on hand), g., $1 ---· .... ..... ..... 1883 1884 1891 1886 1897 1,000&c $9,800,000 1,000&c f 5,369,000 1,000&c ]i 9,819,000 1,ooo&c 17489,000 1,000&c See text. 5 5 5 4 3Ig g. I M. & N. N. Y., Office, 52 Wall St. M. & N. do do A.15&O do do F 15&A.. do do ,r do do May 1, 1933 Nov. 1, 1909 A.pr. 15, 1921 Aug. 15, H}26 Nov. 1, 1987 139 1870·1 1,000 1.592,000 M.&N. do do Nov. 1, 1907 7 184 1871 100 &c. k4,038,500 Dec. 1, 1916 7 g. J. & D. do do 24 1878 ...... 150,000 do do Oct. 1, 1908 7 A.. & ·O. 15 1878 ...... 100,000 M.& 8. do do Sept. 1, 1908 7 24 1878 200.000 M.& 8. Sept. 1, 1908 do 7 do ······ al,007,000 71 1882 M. & 8. do do Sept. 1, 1907 6 ··-··· 2,000,000 125 1882 Nov. 1, 1907 M.&N. do do 6 ··-··· 7,725,000 1,170 1883 $1,000 Oct. 1, 1933 A.. & 0. do do 6 tj .... 100 169,000 A.. & 0. do do Oct.1,'97,3Ig% 7 101 1868 500 &c. Held by Ch. &N.W. J. & J. do do Jan. 1, 1898 101 1868 500 &c. 1,628,152 6 J. & J. U.S. Treas., at maturity. Mar. '98 &' 99 177 1896 1,000 4,599,000 4 g. J. & J. See text.- V. 66, p. 81. July 1, 1925 177 1896 1,000 2,250,000 July 1, 1945 4 g. Jan. 1 100 46,156,000 212 :In '97 Q.-F. New York and Chicago. Feb.1, '98, 1% July 1, 1917 736 i877 1,000&c 12,100,000 6 J. & J. N. Y.,13 William St. 268 1869 100 &c. 5,000,000 Nov. 1, 1899 M.&N. do do 7 2,153 1884 1,000&c 40,394,000 July 1, 1934. do do 5 J. & J. 1891 1,000&c 4,500,000 Sept. 1, 1921 M.& 8. do do 5 1898 1, 1988 4 7 ..... N. Y., Office, 52 Wall St. Jan. 100 .... 18,559:i87 2Feb.' Fb. 20,'97 ,12~ . 100 11,259,912 7in '97. F ...&· ·A.. ... . A.ug.20,'97 3 do do 21 1878 500 &o. Jan. 1, 1908 334,800 do do 7 J. & J. 1,000 12 1878 July 1, 1908 125,000 do do J. & J. 8 177 1878 500 &c. May 1, 1918 do 3,000,000 6 g. M.&N. do 1,000 A.pr. 1, 1919 607 1879 6,070,000 6 g. A.. & o. do do the s inking fund Ju ne 1, 1897, h eld, a, $ 58,000. 81,00 0, h.,$ 1, 143,0.00, k., $202 1.500. ,r Coupon rnterest M. & N., reg 1stered Q.-F. ---- -·-·--· i· LATEST EARNI 'G .-3 mos., S 1897 ..... Gross, $190,970; net, $62,2741 Chicago St. Paul llilnneapo_µs & Oman.a ~Y .-(See Map Ohi• July 1 to Sept. 30. ( 1896 ..... Gross, 213,952; net, 61,0•U cago & North Western.J-ROAD.-Mamline-Elroy, Wis., to Omaha, Neb., EARNINGS.-For year ending June 30, 1897, report given in v. 66, p. 5~3 miles; other lines, 899. miles; total, 1,492 miles, of which 1,428 '78. Comparison is given with calendar year 1896. miles are owned and 64 miles leased. Year end. Gross. Net. Tax & rent. Interest. Balance. HISTOR!.-This _was a consoli.dation JulyJ 1880, of the ~oago. St. June 30, '97. $834,170 $229,614 $67,474 $148,395 sr.$13,745 Paul & Minneapolis, the North W1scimsin ana the St. Paul & Sioux City. Dec. 31, '96. 897,940 272 756 72 703 145 550 sr. 54 503 In Nove1:0ber, 1882, a controlling mterest in the stock was purchased ' '. ' . ' for the Chicago & North Western Railway by the acquisition of 93.200 To the $13,745 for 1896·7 add $15,033 div. on P. & Pekin U., stock, shares of common and 53,800 aharee of preferred. First dividend &c., and deduct $9,262 for be!,terments. Road controlled by Thomas (2 p. c.) on commcm stock was paid in February, 1897. · Carmichael, N. Y.; office 27 Pme St.-(V. 66, p. 18 • 8 1.) STOCK.-A.uthorized common, $21,403,293; preferred, $12,646,833. Chicago Kock .i sland & Pacific Ry.-(See MapJ-RoAD.- Held by the company Dec. 31, 1896, common stock and scrip, $2,844,0peratea from Chicago, Ill., via Omaha, Neb., to Denver and Colorado 106; preferred stock and scrip, $1,386,921. Preferred stock has a prior Springs, Col., and via Kansas City, Mo., to Fort Worth, Texas, with right to non·cumulative dividend of 7 per cent; but common is never branches. The system, as will be seen on adjoining map, includes : to receive more than is paid on preferred. Lines ownedMiles. Leased, etc.-c,]Which see.) Miles. DIVIDENDS since '87. '88. '89. '90. '91. '92. '93. '94. '95. '96. '97. Chio.,Ill., to CouncilBlu..tfa,Ia. 499 Peoria & Bureau Valley .... ,r 47 Common, P. ct..... . . . . . . . . . . . . 1st div. in '97, 2% Davenp't,Ia.,toA.tch'n,Kan. 342 Keokuk&Des Moines ...... ,r 162 Preferred,P. ct .... ·6 3 4 4 6Ig 7 per annum (3IgF&A.) Elwood to Libera.I, Kan...... 440 Des Moines & Fort Dodge .. ,r 143 BONDS.-There are $75,000 Minneapolis Eastern lat m. guar. 7s Herington,Kan.,toTerral,I.T. 349 Trackage to Kansas City, d J 1 1909 $1500 000 s · Sh t L " R b d d Horton, Kan., toRoswell,Col. 569 No. Topeka, Kan., Denver, ue an. • ; • • uperior or me y. on s are owne • Branches...................... 682 Col., Pueblo, Col., etc...... 338 L.ANDS.-The iand sales in 1896 were 22,093 acres, for $68,068, ineluding lots; lands undisposed of, 414,952 acres. Total owned .....• ,....... .2,881 Tot.linesoper.A.pr.1,1897 .3,571 LATEST EARNINGS.-From Jan. 1 to Aug. 31 (8 months), gross, $4,853,The Chicago Rock Island & Texas, from Terral to Fort Worth, Tex., 536 in 1897; $4,764,940 in 1896. 93 miles, was completed in July 1893. It is owned by the Rock Island R rt f 1896 i v 64 514 A. and its bonds are all deposited for the R. I. extension and collaterai ANNUAL REPORT.- epo or was n · • p. • verage mortgage, but the road is operated separately. v. f.l, p. 793 . traiu load in 1896 was 170·6 tons; in 1895 was 156·6 tons. Year ending Dec. 311896. 1895. 1894. HISTORY.-The present Chicago Rock Island & Pacific was a con· Gross earnings ............. ..... $8,156,192 $7,508,764 $7,297,619 solidation June 2, 1880, with $50,000,000 stock authorized, and a Operating expenses and taxes. 5,137,034 4,946,184 4,836,652 etock dividend of 100 per cent to the holders of Rock Island stock, Chicago Kansas & Nebraska is now owned in lee simple. V. 5~, p. 223, Net earnings ....... ·-·······$3,0l9,158 $2,672,11~ $2,351,435 Net renta.ls paid................ 113,946 113,04.8 109,137 DIVIDENDS ?. 1888 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 Net int. on debt (less other inc.) 1,405,353 1,422,830 1,412,300 since '87, P.ct. 5 612 4 4 3 4. 4 31g 2 :2 212 Below Div. on pref. stock .....•........ (7)787,976 (7)787,976 (7) 787,976 In 1897, Feb., 12p. c.;May, 12 p. c.; Aug., 12 p. c.; Nov., 1 p. c.; in 1898, Feb., 1 p. c.-(see V. 65, p. 571.) From 1881 to 1887, 7 p. c. per annum. Div. on com. stock ...•......... (2)370,982 Surplus of RR. Co .........•.... $340,901 $348,258 $42,022 BoNDs.-Refunding Mortgage.-The authorized issue is $100,000,000 Net from land sales............. $1,662 $36,389 $230,076 {Central Trust Co., N. Y., trustee), of which $47,472,600 will be used -(V. 61, p. 280; V. 62, p. 410; V. 63, p.1114.; V. 64, p. 231,233, 514.) to take up the extension and coll. trust 5s and the debenture 5s (both Chicago & Southeastern Ky.-Operates Anderson, Ind., to subject to call at 105), and $12,500,000 will be reserved for the first -6s, due Hn 7. The $5,000,000 7s, due 1899, will be offered new 4s in Brazil. Ind., 109 miles, of which 12 miles, Waveland to Sand Creek, is exchange. See V. 65, p. 1070. The new bonds are issuable for exten- trackage. Receiver, appointed in November, 1897, was dischar~ed in Ja.nuary-see V. 66, p. ~!-.Midland Ry. of Ind. January, 1895, mterilion at $1,000,000 yearly. The extension and collateral trust bonds (trustee of mortgage United est was not paid when due.-V. 61, p. 924; V. 65, p. 9~4; V. 66, p. 81. -States Trust Co.) are redeemaele at 105 in the order of their numbers, Chicago Terminal TransCer KK.-Owns 760 acres, of which beginning with the lowest. Bee mortgage abstract, V. 47, p. 260. 50 acres are in the city, and 7,500 feet of docks fronting on the ChiThe debentures of 1891 (U. 8. Trust Co., trustee) were issued to pay cago River. It has in operation, including the old Calumet property, for terminals and betterments as needed. The issue is for $10,000,000 75 miles of main line, of which 40 is double track, and 80 miles of spur .and the bonds are redeemable on notice any coupon day at 105. and side tracks; in 1897 secured for 99 years ri~ht to use Chicago See description of debentures on page 3 SUPPLEMENT or April, 1895. Hammond & Wes tern line from McCook to Franklin Park, when comGENERAL FIN.ANCES.-On April 1, 1897, $400,000 first mortgage pleted, about 9 miles. Also owns the Grand Central Passenger Station -6swere in the treasury. Average freight train load in 1896-7, 158 at Harrison and Fifth streets. A. large part of the right of way is tons; rate per ton mile, 0·96 cent; in 1895·96, 144 tons; rate per ton owned in fee. Mileage of track operated Dec. 31, 1897, 207·89. -mile 1 ·03 cents. HISTORY.~A. reorganization in June, 1897, of Chicago & Northern Refunding.-The proposed refunding of the bonded debt, of which Pacific and Chicago & Calumet Term., plan V. 64, p. b88, 898. $5,000,000 of 7s mature Nov. 1, 1899, a nd $44,894,000 of 5s are subSECURITIES.-Tbe stock and bonds of the new company are shown in ject to call at 105, is expected to save the company about $550,000 the table above. Stock-The preferred stock is entitled to preference yearly.-V. 65, p. 571. to the common stock in liquidation, and to non-cumulative dividends EARNINGS.-Jan. 1 to Sept. 30 (9 months), gross, $11,886,445 in 1897, at 4 p. c. per annum before any dividends are paid on common; after 4 p. c. has been paid on common stock the preferred stock shares pro $11,310,971 in 1896. rata with common in any additional distribution of earnings for that ANNUAL REPORT.-The fl.seal year ends March 31. Annual meetinJr year. Bonds-Of the $16,500,0001st 4s,$1,305,000 are reserved to re• ta held in Chicago on the first Wednesday in June. Report for 1896·97 tire the $1,044,000 assumed bonds; $2,195,000 for new property as .at length was in V. 64, p. 1085, 1090-see also editorial, p. 1069. provided in the mortgage; and on January 15, 1898, $258,000 were Earnings, &c., have been : m treasury, leaving $12,742,000 outstanding; but only $11,360,000 1897. 1896. Year end!ing March :n1895. listed on New York Stock Exchange to Jan. 19, 1898. Miles owned and operated ... 3,571 3,571 3,571 L A.TE T EARNINGS.-From July 1 to Nov. 30, 1897 (5 months), gross, Passenger earnings.... . ....• $4,072,127 $4,445,953 $456,812; net, $308,878. Freight ....................... . 11,229,175 11,159,100 1,876,077 R EPORT.-An interim report issued on Dec. 31, 1897, by Chairman 1,845,351 1,754,600 Mail, express, rentals, etc ..•. Adams, was published in V. 66, p. 85. Gross earnings ............ $17,146,653 $17,359,653 $17,420,816 EARNINGS.-The net earnings (after deducting taxes) appliNet earnings.................. $5,533,825 $5,493,059 $4, 738,555 cable to the interest charges are estimated for the year (68·36) P. o. of oper. exp. to earns.... (67·73) (72•fl0) commencing July 1, 1897, at about ..................... . .. -.$661,000 From land department, etc.. 12,243 38,439 15,644 Fixed cbar1Zes (on $12,742,000 new 4s and $1,044,000 old 5s. 561,880 The total fixed charges of the old companies amounted to $1,794,950. Total income.............. $5,54.6,068 $5,531,498 $4,754,199 OFFICERS.-Chairman Executive Com., Edward D. A.dams, N. Y.; Rent leased roads............. 681,730 $665,615 $69 4 ,924 President and Gen. Manager, S. R. A.inslie, Chicago; Vice Prest.• F. T. Interest on debt............... 3,321,525 3,322,525 3 Gates, N. Y.; 8ecretary, George P. Butler. MillsBuilding,N. Y.; Treas• Missouri River bridges....... 99,217 119,650 urer, Henry S. Hawley; Comptroller, J. H. McClement,N. Y. General Dividends ... .................. (2) 923,116. (2) 923,116 Offices, Grand Central Pass. Station, Chicago.-V. 66, p. 38, 79, 85. Balance.... ....... ...... . . . . . . 520,480 sur.$500,592 er. 1,152,079 Chicago & Texas KK.-Cape Girardeau, Mo., via Carbondale, ill. M. & St. L. bonds ........•..... ____ _ _ _ to Johnson City, etc., 80 miles, and branch 2 miles. In September Surplus, bal. for year........ $520,480 $500,592 $352,547 1897, leased to Illinois Central. V. 65, p. 666. Common stock, $1,500, 000; preferred, $1,000,000; par, $100. Year 1895-96, gross, $184,689; -(V. 64, p. 1069, 1085, 1ogo; V. 65, p. 194,571 ,976, 1070.) net, $50,302; interest, taxes, etc., $66,737; deficit, $16,435. In 1894Chlcago St. PauJ & Kan. Clty.-See CHICAGO GREAT WESTERN• 95, gross, $149,375.-(V. 65, p. 666.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I ft;~g~;~~g ---- ,f~~,•~~~ J~~~$:gt;gi~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CHICAGO, ROCK ISLAND AND PACIFIC RAILWAY SYSTEM: AND ITS CONNECTIONS. ,JANUARY, 1898,J 41 RAILROAD STOCKS AND BONDS. S11b•crlbers will confer a great favor by giving hnmedlate notice of any error discovered In these Table•• 1Bond8-Pr1nol INTERESTOR-DIVIDENDS. Date Size, or - - - - - - - - - - - - - - p&l,WhenDue Amount Rate per Par of When Where Payable, a.n.d by BtockB-Laat of Outstanding Dividend. Whom. Cent. Payable Road. Bonds Value. - - - - - - - - - - - - - 1Miles - - - - - - - -RAILROADS. For expla.n.a.tion of column headings, &o., aee notes on first page of tables. ---------0h ic. St. Paul, Minneap. <I Omaha,-(Oonct'd)- -- J. & J. N. Y. Office, 52 Wall St. Jan. 1, 1930 $800,000 80 1880 $1,000 6 No.Wia.lat M. Lake St.C. ton'rSpooner ass'med.o.. Nov. 1, 1915 1,000 do do 400,000 M. & N. 37 1890 5 Sa.ult Ste. Marie & Southwest'n lat M., assumed.o 1,000 14,006,327 June 1, 1930 do do J. & D. 6 Oh.8t.P.M.&O.oon.M.,$~Q,0001000($15t.<!00P.m)o~ 1,412 1880 Jan. 1, 1917 1,000 In default. 375,000 5 g. J. & J. 94 1887 Chicago ti Southeastern-.M.ld. or Ind. lat m., gold .. o (f) Jan. 1, 1922 94 1891 5 g. General mortgage, gold............................ . ... 12,989,200 <Jhic. Terminal T1·ansfer RR.-Com., !H3,000,000. ···-1· 100 16,649.000 Pref., non-cumulative, 4 per cent, $17,000,000 .. Trust. Ju.:ne 'i," .i936 i886 1,000 394,000 5 g. J •..&. ·o. N. Y., Chicago & Great Western lat M. gold, assum.c• 650,000 City of Chicago purchase money mort., assumed May 1, 1938 5 M. & N. To City of Chicago. 12,742,000 4 g. J. & J. N. Y., Mercantile Trust. July 1, 1947 Chio. Term. Transf.lstM.,g.,$16,500,000 Us.o•&r · 75 i897 1,000 1,225,000 60 1893 5 g. A. & 0. Chicago <I Texas-lat mort., $2,500,000, gold ... o&r Apr. 1, 1933 In default. 5,000,000 6 Chicago ti Western Indiana-Stock (see text)...... . . . . Jan. 3,'98, 1~ .. . . . . . . . . Q.-J. 4 8 i879 1,062,000 lat mort., gold, aink. fund, subject call at 105.c• 6 g. M.. & N. N. Y., J.P.Morgan & Co. Nov. 1, 1919 1,000 9,652,666 48 82·92 Dec. 1, 1932 do do 6 g. Q.-M. General mort., gold, aln.k1ng fund, see text ..... c* 100 7,511,800 Ohicago ti West Michigan-Stock (in trust $63,600). . . . . Feb. 15, 1893 Bee text. ..... 1 0 is15 500 &c. 19,000 Grand Rapids Newaygo & Lake Sh. lat M. 2d Div. J. & D. N. Y., Un. Tr. & Boston. June 1, 1905 7 1,000 5,758,000 Dec. 1, 1921 Bee text. Chfo. & West Mich. general mort. ($12,000p.m.) .c* 488 1881 J. & D. 5 1,000 93 1891 1,667,000 May 1, 1931 Bee text. Oh.& No.Mioh.lstM.,gu.,p.&t.end.$18,000 p. m.o* M. & N. 5 1,000 1892 269,000 Mich. Equi:i;>, Co. lstM., gu.p.&i., s.f. red. at 100.r. June 1, 1902 6 Boston. J. & D. 1894-7 606,502 Coupon scrip Dec. 1, 1897........................ . 1904·7 5 .. .. .. . . . . Semi·an 1,000,000 Choctaw Oklahomo<i Gulf RR.-Priorlien,g.,text.o* 220 1894 6 g. A. & o. Phil., or. 420Walnut St. Oct. 1, 1919 1,000 3,195,000 General mortgage, $5,500,000, gold ............ o* 220 1894 Oct. 1, 1919 do 5 g. J. & J. do 100 .... 8,000,000 Cincinnati Hamilton ti Dayton-Common stock... . . ...... . Cincinnati. . . .. . . 100 ...... 1,000,000 4 ixi.is 97 Q.-J. Pref. stock, A & B, 4 p.c. cum., guar. (call at par) Jan. 4, '98, 1% do ...... 100 742,100 4in18 97 Q.-M. "Eagle" 4 p.c. cum., guar. (call at par) do Dec., '97, 1% do 6,257,900 5in 18 97 Q.-F. New preferred 5 per cent non•cum., $8,000,000.. Feb.1'98,114% do 996,000 7 Consolidated mort. (now 1 ,-t) $ & £, sink. fund. c* ·60 i875 A. & 0. N.Y.,Kessler&Co54Wall Oct. 1, 1906 1,000 60 1875 do .................. o* 1,340,000 do Oct. 1, 1905 do 6 do A. & 0. 1,000 do .................. o* 60 1875 do 394,000 Oct. 1, 1906 do 5 do A. & 0. 1000 69 1887 2,000,000 4 J.gg. J. & J. Second mortgage, gold ........................... o* Jan. 1, 1937 do do 1892 1,000 60 ll.Ie.o* ... .... gold 1, 1942 3,000,000 $7,800,000, June mortgage, General 5 g. J. & D. N.Y.,Blair&Co.,33Wa.ll 1,000 3,500,000 Cin. Day. & Iron., 1st M., gold, guar. (assumed.o* lfl4 1891 5 .g. M. & N. N.Y.,Kessler&Co54Wall May 1, 1941 .. i.oo Mercantiie i:ooo i:ooo i:ooo i:ooo Chlca~o & Western Indiana KK,-Owns a valuable terminal eystem of roads aifording 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 -Ora.gin1 16 miles, and to South Chicago, 5_ miles; total,.4 8 miles; total track, moluding 2d, 3d, 4th tracks and s1ding_s, 214 miles; also owns 860 acres of real estate, passenger and freight yards, warehouses, elevators, etc. The Belt Ry. of Chicago leases and operates 72 miles of the 214 miles owned by the Cb. & W. I., its seouritieR being all held by the companies leasing the Chicago & W. I.; see V. 60, p. 1056. LEASES.-This company's road and terminals are leased under perpetual contracts to the Wabash, the Chio. & Grand Trunk, the Chicago & Eastern Illinois, the Chicago & Erie and the Louisville New Albany & Chica.go, ea.oh of which five companies owns $1,000,000 stock. They a.re also leased to the Atchison, the Elgin Joliet & Eastern and the Belt Railway. The annual rentals must al_ways exceed by at least 20 per cent the interest on the bonds at any time out sta nding. CAPITAL STOCK, $5,000,000, all owned as above stated. Dividends 1892 to 1894, 6 p. o. yearly; in 1895, 712 P, c.; in 1896. 6 p. o.; in l897, Mar., 112 p. c.; July, llg p. o.; Oct., 1 12 p. o.; m l898, Jan., 1 12 p. c. BONDS.-Sinkingfundpayments(amountingin year 1896to $161,000) annually retire a portion of the first mortgage bonds at 105 and inter· est, and after they are all drawn the general mortgage bonds become subject to same smking fund and will be drawn at same :price in such annual amounts as will retire the debt at o_r before mattµ>Ity. In Sept., 1894, $14,152,000 g~meral 6s had bet>n issued, of which ~2,500,000 were reserved to rettre first~ and $1,999,333 had been na1d back to -0ompany and canceled. In 1897 $172,000 lsts were redeemed. 1898. 1897. 1896. 1895. 1892-94. DIVIDENDS.-?_ 6 7 12 6 yearly. Per cent. 5 ANNUAL REPORT-Fiscal year ends Dec. 31. Report for 1896 was in v. 64, p. 1085, showing gross income, $1,012,794; interest, etc., $667,· 118· dividends $300 000· bal. surplus $45 676. In 1895 gross tnoome, $995,834. In 1894 gross, $994.,979. (V'. 65, p. 620.) Chicago & West Michigan Ky.-Owns from Laorosse, Ind., to Traverse City, 301 miles; Allegan to Pentwater, 98 miles; Big Rapids .Junction to Big Rapids, 52 miles; other branches, 37 miles; proprietary line, Chicago & North Michigan (opened in July,1892), Traverse City to Elk Rapids and Bay View,193 m.; total of all, 581 miles, less 23 miles Allegan to Holland (leased D ec., 1897, to D. T . & M.), leaving 558 miles operated; sidings, 161 miles. Car ferry between Milwaukee and Muskegon was opened in Deo., 1897. (V. 66, p. 38.) ORGANIZATION, &c.-Organized Jan. 1, 1879. Total tons carried in 1896were 1,174,727, of which lumber 42 p, c., coal 812p. c., grain4p.o. COUPONS ETC -June 1894 coupons on gen. mort. were purchased at Union Tr. Co., N. Y., ai:i.d Old Colony Trust Co., Boston. V.58, p. 941. Coupons of Chicago & West Michigan general mort., due Dec. 1, 1894, to June, 1897, inclusive, anli nf Chicago & North Michigan first mort. due Nov. 1, 1894, to Nov. 1, 1897, inclusive, were paid lg in cash and 12 tn 10-year 5 p. o. scri_p ; Chgo. & Wes!· Mich . cou~ons du~ De_o 1, 1_897. were pa.id 80 p. c ($~0) 1n cash and 20 P• c. ($5) ID scrip, said scrip to be redeemable at option of company. V. 65 , p. 1023 · Jan. l, 1897, unpaid coupons, $l 75,041. DIVIDENDS-In 1887, 212 p. o.; in 1888, 2; in ~889, 2; in 1890, 3; In 1891, 312; in 1892, 312; in 1893, llg p. c.; none smce. LATEST EAR.NINos.-From Jan. 1 to Nov. 30 (11 months): Balance. Int., rent., ~c. Net. Gross. 11 months. def. $60,298 $379,389 $319,091 1897 .. ........•••. $1,515,653 def. 76,800 372,822 296,022 1896 .••.........•. 1,518,595 .ANNuAL REPORT.-.P.eport for year ending December 31, 1896, was in v. 64, p. 948, showing: gross, $1,642,617; net, $321,· $408,364 ; balance, charges, $1,496 ; 141 ; other income, deficit, for year, $85,727. Report in V. 62, p . 820, for 1895 showed gross, $1,724,047; net, $319,950.-(V. 66, p. 38.) Choctaw Oklahoma & GolC JlR.-Wisrer, lndian 'rerritory, via South McAlester and Oklahoma City, to Fort Reno, 216 miles; coal mine branches, 4 miles; total, 220 miles. The extension, South McAlester to Oklahoma City, 120 miles, completed in September, 1895. Extension of 6 miles to K. C. Pittsburg & Gulf and one of 25 m. from Western terminus through an agricultural district proposed. (V 66, p. 133.) HISTORY.-A reorganization of the Choctaw Coal & Railway Co., sold tn foreclosure Sept. 9, 1894. Holds valuable coal leases. READJUSTMENT.-In June, 1896, was issued $4,000,000 of 5 per cent preferred stock (par, $50) to r etire $1,200,000 (out of $4,141,000) general mortgage bonds and all the $1,100,000 incomes; and to raise $650,000 in cash with which to pay $308,000 oar trusts, and to build an extension of 6 miles to tbe Kansas City Pittsburg & Gulf, for bet· terments, etc. The obligatory charges were thu11 reduced from $325,· 000 to $209,750 yearly. See V. 62, p. 588,778,821,868. STOCK.-Common stock, $3,750,000; par, $50; all held by voting trust till July 1, 1899; preferred stock, 5 per cent (cumulative a.fter Nov. 1, 1897), $4,000,000; outstanding. $3,1:196,700; par, $50-V. 64, p.134. BoNDs.-The prior lien 6s are redeemabie at 10.3 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• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I eluding $1,200,000 surrendered under plan or March. 1896) were held for future additions, etc. On Nov. 1, 1897, there was no floating debt and no oar trustR. In Jan .. 1898, $200,000 5s reported sold to build ex.tensions, making $3,195,000 ps outstanding. LATE T EARNING -1month-51897 .. Gross, $169,130; net, $77,960 116 920· net 38 445 ?_ 1896 .. Gros November. • • • . ' ' REPORT.-Year ends Oct. 31. Report for 1896·7 wa,s ID V. 66, p. 130. Years end. Gl·oss OcJ, 31- of t·a'ilroad. Gross of 7!!ini11g. Net of both. Interest and taxes. Balance, for year. $.:>11,728 $393,304 $225,974 sr.$167,330 189, ....•... $719,616 def. 1,200 229,807 228,607 536,017 1896 . . . . . . . 543,040 Coal output in 1896·7 was 386,368 tons against 364,110 tons in 1895·6.-V. 66, p. 130. President, Francis I. Gowen, Philadelphia.-(V. 66, p. 130, 133.) Cincinnati Hamilton & Dayton Ry,-(See Map.)-Operates a direct line between Cincinnati and Toledo Ohio with branches to 1ndianapolis, Ind., and Ironton, on the Norfoik & Western, etc. Miles. Roads contrnlled,Road owned-(il See this Oo.)Miles. Cincinnati to Dayton, 0 .. ...... 60 Cincinnati Hamilton & Ind ... ,r 99 Cincinnati Dayton& Ironton .. 164 Cincinnati & Dayton ........... 13 Cin. Dayton & Chicago, etc .... 143 Total of all .................. 641 Trackage . . . . . . . . . . . . . . . . . . . . . . . 20 Owns jointly with Big Four Day• Roads leased,Dayton & Michigan .......... fl142 ton & Union. HISTORY, ETc.-Chartered in 1846. Main line opened in 1851. Leased lines added at various times since. In July, 1895, the Cin. Dayton & Ironton and Cin. D. & Chicago were formally consolidated with the C.H. & D. Raifroad under the name of Cin. Ham. & Dayton Railway. V. 60, p . .1104; V. 61, p. 68. Indiana Decatur & Western stock control was acq~ed i_n December, 1895, and that property will be operape~ in connect1~n with the O. H. & :q. system. V. 61, p_. 1004. The Cmcmnati Hamilton & Dayton Traction Co. was orgamzed in Novemb_er, 1~96, to build and operate rapid transit electric lines in connectwn WI~h th e C.H. & D. steam roa_d-see V. 64, p. 82. STOCK.-Cap1tal stock of C. :s;. & D. Railway is comm~m $8,000,000; pref~rred 5 p. c. non-cumulative, $8,000,000. Old 1·ail1·oad common received 1 65 10n shares of the new preferred an_d 2 s1:iare1:1 of new common for each old share. The new preferred 1s entitled to 5 p. c., then common to 5 p. c.; then both share equally. 1896 to Feb. 1898. 189:,. DIVIDEND since consolidation5% yearly (Q-F.) 114% New preferred, issued in 1895.... ...... 4 per cent yearly (quarterly). Old preferred, guar. 4 p. c. ... .. . . ... . . . The $5,630,400 old RR. common stock, which was exchanged for new preferred in consolidation of 1895, paid 5 p. c. yearly from 1890 to July, 1895, but nothing in 1888-89; previously 6 p. o. or more. BONDS.-The general mort~ageis 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 & Michigan, the profits under which are large. v. 54,p. 799; V. 55, p. 373. GUARANTIES.-The C. H. & D. guarantees certain securities of the Cincinnati Hamilton & Ind. and Dayton & Michigan-which see. In May, 1895, C. H. & D. interests in Alabama Great Southern were sold to Southern Ry. Control ot Cin. N. 0. & T. P. stock is held by Southwestern Construction Co. (see V. 65, p. 1173) for C.H. & D. and Southern Railway jointly. (V. 62, p. 1139; V. 6~, p. 228.) .ANNuAL REPORT.-Fiaoal :rear ends June 30. Yr. toJune30. G,•oss. Net. Int., etc. Divid'nds. *Bat.,sur. 1895·96 ...... $5,147,562 $1,607,717 $846,907 $482,800 $278,010 330,886 1,627,986 847,200 449,900 1894-95 ...... 5,039,136 429,628 445,623 1,724,404 849,153 1893·94 . . .. . . 5,094,812 • NOTE.-From this paid $180,788 D. & M. dividends yearly. -(V. 62, p. 182, 232, 1038, 1139; V. 63, 1-1. 153, 228, 504; V. 64, p. 82.) Cincinnati Hamllton & Indiana polls Ry,-( See Map O. H. ~ D.J- Owns Hamilton, Ohio, west to Indianapolis, Ind., 99 miles. 8TOCK.-Common stock ($2,500,000) is all owned by the Cincinnati Hamilton & Dayton, which operates the road, v. 57, p. 144. Pre• ferred non-cumulative 7 per cent stock, $281,679. BoNDs.-The first mortgage bonds are guaranteed by the C. H. & D. (authorized $2,500,000), but $700,000, under an agreement of 1880, Wlll not I.le issued. The general mortgage, of which Continental Trust Co. ol'. New York and the Union Trust Co. of Cincinnati are trustees, is for $3, 00,0U0, of which sufficient reserved to retire first mort. bonds at ma~rity; $1,333,000 issued, but held in the treasury. EARNINGS.-In year e:uding June 30, 1896, gross, $698,350; net, $115,404; other income, $725; interest, taxes, etc., $165,884; balance, deficit, for year, $49,755. In 1894·95, gross, $658,037; net, $83,007. Cincinnati Jackson & Diacklna-w Ry.-In 1894 Messrs. C. 8. Brice and others acquired control of stock. F. B. Drake was appointed receiver. Road sold on Jan. 5, 1897, tor $1,000,000 to the Reorganization Committefl, and divided between the Cincinnati Northern RR. and the Detroit Toledo & Mil. RR., which see. Holders of the $4,234,000 old 4 p. c. bonds deposited under the plan of Dec. 10, 1895, as modified (V. 61, p. 1106; V. fl4, p. 41,) were entitled Sept. 30, 1897, to the securities mentioned in CHRONICLE of Oct. 2, 1897, p. 620. MAP OF THE CINCINNATI, HAMILTON AND DAYTON RAILWAY .AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDB. JANUARY, 18U8. I 43 Subscribers will conf'er a great favor by giving lnunedlate notice of any error discovered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. INTEREST OR DIVIDENDS. Bonds-Princt · Miles Date Size, or Amount - - - - - - - - - - - - - - - - - pal,When Due. of of Par Outstanding Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. ---------------------1 ·---- ----1------1---·--- ----------1·-----Cin. Hamilton cl Indianap.-lat M., guar. p. & 1. .. 99 1873 $1, )1)0 $1,800,000 7 General mort. for $3,800,000, gold, to be guar _.. Cincinnati Lebanon ti Northern-Stock $1,000,000 1st mortgage ..................•................... 0 Speci~ mortgage (to redeem certificates)........ Oi.ncinnati ti Muskingum Valley-lat mortgage ... c Cincinnati New Orleans ti Texas Paciftc--8tock..... Receiver's certificates __ ... _....................... Cin. North'n-lat M., $4,500,000, gold (see text)_. Oincinnati Portsmouth ti Virginia-Common stoc11 Preferred stock, non•cumulative (see text). . ..... 1st mortgage, $500,000, gold,red. at 105 .... c&r* Cin. Richmond ii Ft. W.-1 st mort., gold, int. gu.c~ Oin. Saginaw ti Mack.-lat M., $2,000,000, gold..c* Olearfl,elddMahoning-lstM.g.,gu.p.&i.(end.).c*&r Ole1Je{and .Akron ti Oolitmbus.-Stock.. . ............ General mort. (now 1st,) for $1i800,000 gold .... o Eauip. Trust & 2d mortgage, go d, (See text) .... c~ 1 st consol. mort., $4,000,000, gold. See text.... Cleveland Belt ii Cerminal-lat M. $1,000,000..... Oleve. Oanton cl South'n- Receivers' certificates... Cleveland & Canton 1st mortgage, assumed .... c · Equip. Tr. & Improve. 2d M. ($2,000,000) gold c* Coshocton & Southern lstmort., gold, assumed.. ·-fi.o:; Cl~~~fa°:dn3~~·u ·Falis· & ist·M.-;$200,000 Debentures, lien on rolling stock............... Waynesburgh & Canton 1st M .. gold. assumed ... c Gen. 1st M. Zanesville real estate, $200,000 iss... Cl. Can. & Bo., consol. M., $26,000 p. m., gold .. c* Equipment trusts June 30, 1895...... ............ Real estate mortgages as on June 30, 1895. ... . . _Massillon RR. (leased) 1st mortgage.............. 99 1893 1,000 iss6 i:ooo ·ss 38 1894 100, &c. 148 336 . .. _ 205 107 107 108 86 53 26 . ... 177 177 . .•. 612 . ... 161 161 30 :::: . .. . 6 . .. . ... . . .•. . ... . •.. 1870 is95 1871 1890 1893 iss7 1890 1893 1891 1,000 100 iss2 J. & J. N.Y.,Kessler&Co54Wall Jan. 1, 1903 5 g. J. & D. June, 1943 ...5.. 2 to 5 7 ...5.g. J. & J. Cinn., Cen.Tr.&S.D.Co. Jan~;·igia J. & J. do do July, 1914 J. & J. July,'88,pd.Nov.10,'96 Jan. 1, 1901 Oct. 19, 1891 (1) New York. 1,566,000 100 Cincinnati, Ohio. 100 594,000 4.iii·•o1 J ...&.. J. 1,000 400,000 5 g. J. & D. Investm't Tr.Co.,Phila. 1,000 1,800,000 7 g. J. & D. N. Y., Winslow, L. & Co. 1,000 1,710,000 5 g. J. & J. New York and London. 1,000 650,000 5 g. J. & J. N. Y., Guaranty Tr. Co. 100 4,000,000 M:·&.. S. Hamilton Tr., Bk'lyn. 500, &c. 1,800,000 1,000 730.000 6 g. F. & .A.. do & 80B'way,N. Y. 1,000 .A.a collateral 5 g . .J. & D. 902.000 5stk J. & D. Boston, Co.'s Office. 124,000 J:·&··J. July, 1895, not paid. 2,000,000 1,000 1,121,000 .A.. & 0 . .A.pr.,'93,coup.last paid. 1,000 600,000 J. & J. July, '93, coup. last pd. 26,000 .A.. & 0. .A.s collateral A. & 0. 1,000 150,000 M. & N. 1,000 200,000 J. & D. June,'93, coup. last pd. 1,000 .A.a collateral J. & J. 1,000 76,000 M.&N. 559,183 M.&N. 105,700 110,000 Boston. ...5.g. iss1 i:ooo 1891 1887 1889 1889 1890 1888 1890 1892 See text. 902,000 200,000 168,640 1,500,000 3,000,000 60.000 i:ooo I ·1947· Jan:5,-.-98: 2% June 1, 1925 June 1, 1921 Jan. 1, 1920 Jan. 1, 1943 Oct. 3, 1892 Moh. 1, 1927 .A.ug. 1, 1930 Dec. 1, 1943 Jan. 1, 1941 Juiy. r; ·i917 Julr 1, 1917 Ju y, 1917 .A.pr. 1, 1894 Apr. 1, 1929 May 1, 1896 June 1, 1928 Jan. 1, 1941 May 1, 1942 Gi:oss earnings in 189(!, $707,087; net, $101,483, against $90,100 in mterest, $1,646: dividends, $11,880; balance, surplus, $24,055. In 189::>. Report for 1885 m V. 62, p. 1137. -lV. 65, p. 70, 620.) 1894·95 gross, $256,693; net, $45,600.-(V. 63, p. 791; V. 64, p. 1180. Cincinnati Lebanon & Northern Ky .-Cincinnati, o., to Cincinnati KlchDlond & F~rt Wayne K~.-Owns from Rich• Dodds, o. 36 miles: branches, 2 miles; total, 38 miles. Purchased in mond, Ind., to Adams, Ind., 86 miles; leases 5 miles of f. F. W. & c. May, 1896, by the Pennsylvania Company. The" special mortgag;e" Now operated (January, 1897), by Grand Rapids & Indiana Ry. for bears interest until July 1, 1899, at 2 p. c., and thereafter at 5 p. c. net ea1:nlngs as rental. Interest ls 1tuaran~eed by the Pennsyl varna Co. -(V 62 p 502 548 988) and P1tts trnrg Cin. Chicago & St. L. Co. Jointly (the P. C. C. & St. L. · ' · ' • · . taking the place of the Cin. Hamilton & Dayton in 1888). Stock, $1,~lncln~atl. & .lliusklng~Dl Valley Ky.-(Se_e map of. Pittsburg 709,313-par, $50, of which Penn. Co. Dec. 31, 1896, owned $1,256,. Oinc111~nati Ohicago_d St. Louis.)-Owns Morrow. Ohio, .to Trmway! 0,, 900. Due guarantors Dec. 31 1896 $1 276 650. 148 1mles. Reorgarnzed as now January, 1870. Leased m 1873 to Pitts. ' ' ' • . , . , Oin. & St. L. tor 99 years-see v. 62, p. 906, A.mount due Pitts. Cin. EARNINGS.-Jan. 1 to Oct. 7, gave $304,452 m 97; $311,218 m 96. Chica~o & St. Louis Dec. 31, 1896, $1,081,013, and on unpaid cou• Yearend. Dec.31. Gross. Net Inte,·est,clc. Balance. pons, mcluding Jan,, t897, $893,935. Profit and loss deficit Jan. 1, 1896 ..........•... $394,411 $94,883 $126,300 def.$31,417 1897, $1,904,2~2. Capital stock, $3,997,320-par, $50-of which Penn. 1895 .............. 447,705 103,449 126,5tm def. 23,111 Co. Dec. 31, 1896, owned $2,430,900. Clearfield & 1'IahonlngKy.-(SeeMapBuf. .Roch. <IPuts.)-Owns BoNns.-Pennsylvania Railroad owns $754,000 of the bonds. V. 55, road, completed in 1893, from Du Bois June, Penn.. on Buff. R. & P., p. 1078. First mort. coupon due July 1, 1887, was paid on Aprill, to Clearfield on Beech Creek RR., 26 miles. Leased durmg corporate, 1895, at Winslow, Lanier & Co., New York; January 1, 1888, coupon existence and renewals thereof to Buffalo Rochester & Pittsburgpaid April 1, 1896; July, '88, coupon pa.id Nov. 10, 1896; none since which see-at a rental payable in gold and equal to 6 per cent on to Dec., 1897. $650,000 stock, par $50, and 5 per cent on bonds, the latter being guar. EARNINGS.-Fiscal year ends Dec. 31. Report 1896 in v. 64, p. 997. p. & i., by indorsement on each. 0~ June 30. 1896, $100,04-5 was due Yr.end. Dec.31. Gross. !Vet. Interest,&c. Balance. Buff. R. & P. for advancements for improvements -see V. 61, p. 710. 1896............ $410,635 $68,254 $108,238 def.$39,984 Cleveland A.kron & OoluD1bus Rallway.-Owns from Hud• 1895............ 478,852 34,851 110,729 def. 75,878 eon, 0., to Columbus, 0., 144 miles; Dresden branch, Kilbuck to Trin• -(V. 62, p. 548, 906; V. 63, p. 879; V. 64, p. 997.) way, 33 miles; coal spurs, 14 miles; total owned, 191 miles; trackage Cincinnati New Orleans & Texas Pacific Ky.-ROAD.-Ope· Hudson to Clevelan4, 26 miles, and Trinway to Zanesville, 16 miles; rates Cincinnati Southern Ry., Cincinnati to Chattanooga, Tenn., 336 m. total operated, 233 miles. HISTORY, ETc.-Organized in 1881 under laws o! Ohio to lease the HrsTORY.-R~organized under this title in January, 1886. In Septem• Cincinnati Southern Railroad, owned by the City qf Cincinnati. In ber, 1895, Calvm 8. Brice purchased control and was elected president. October, 1895, a majority of the capital stock (including $500,100 DIVIDENDS.~ 1886. '87. '89. '90. '91. '92. None purchased by So. Ry. Co. and $1,000,000 by .A.la. Great douthern Ry. Per cent. 5 112 112 1 1 1 114 since. Co.) is held by Southw:estern Construction Co. for joint benefit of Sou. BoNDs.-The equ,ipment bonds are redeemable at 100 and interest on Ry. Co. and Cln. Hamil to~ & Dayt. t:1ee V. 61, p. 26 and V. 65, p. 1173. August 1, 1900, and at 105 and interest on any August 1 thereafter .Rental due City of Cincinnati $1,012,000 till Oct. 12. 1896; prior to lll3v. Bonds in excess of $730,000 bave been canceled and $1,102,000 till Oct. 12, 1901, and $1.!262,000 tlll 1906.. Better.m e!lts cannot now be issued. To June 30, 1897, none of the first consol. 5s have averaged (to June. 30, 18~7),. $14::>1981 per annum smce begmrung had been sold but $700,000 were outstandin"' as collateral. Equip• of lease and revert to 01ty of Cmcmnat1.-See V. 62, p. 232. menttrusts outsta.ndrng December 1, t897,$31B',020, payable monthly; RECEIVERSHIP.-S. M. Felton was on March 19, 1893, appointed re· bills payable June 30, 1897, $351,728. ~eiver. A judgment for about $400,00(_) obtained against the company READJUSTMENT.-The report for 11395·96 says: "The general results m May, 1897, and sale of the road will be brought about-V. 65, p. of the year's business are discouraging, and demonstrate the necessity 565, 1173. Car trusts Dec. 31, 1897, 6 p. c., due Sept., 1903, $227,5~7; for a radical readjustment of the finances of your company and for inbills payable June 30, 1897, $72,674. creased facilities for procuring and handling traffic." LATESTEARNINGS.-6 mos .• 51897 .. Gross, $1,939,876; net, $653,166 ANNUAL REPORT.-Flscal year ends June 30. Report for 1896·97 July 1 to Dec. 31. i 1896 Gross, 1,721,269; net, 497,830 was in v. 65, p. 1170, showing gross, $718,051; net, $140,137; interest, ANNUAL REPORT.-Report for 1896•7 was in V. 65, p. 565 . .Average rentals, etc., $191,975; balance deficit for year, $51,838. In 1895·96 freight train load 331 tons in 1896-7, against 277 tons in 1895·6. S'J,'OSs, ~874,920; net, $.243,958; interest and rental, $181,393; balance, l 894. Year end. June 30. 1897. 1896. l89 5 . $62,56::,; charges against this balance amounted to $123,760 <~e.e re• Gross earnings ..... $3,440,506 $3,685,865 $3, 4 8 7 , 9 4 2 $ 3 , 576 , 979 port), leaving a deticit of $61,195. Eq~ipment payments (additional Net earnings ..•.••.• $1,097,325 $1,039,992 $976,767 $912,013 iiargei l~o~e) amounted to i95,779 m 1895·96.-(V. 63, p. 1112; Rental paid•........ $1,076,839 $1,061,110 $1,044,878 $1,084,306 · • p. · Miscellaneous....... 14,803 2,056 2,489 Cleveland Belt & TerDllnal KK.-Owns 612 miles terminal - - - - - - - - road, or 13 miles including side tracks, at Uleveland, Ohio. Stock, Balance ......... sur.$5,683 def.$23,174 df. $70,600def.$172,293 common, $3,001,000; preferred, $178,000; par $100. Mortgage -(V. 63, p. rr6, 153, 228, 3 6r, 649,684; v. 65, p. 565 , 1173 .) trustee, International Trust Co .. Boston. Interest on the firsts is payable in preferred stock. Loans and bills payable June 30, Olnclnna.tl Northern flK.-Owns from Franklin, 0., via .A.ddi· 1896, $21,700. For year ending June 30, 1896, gross, $28,659; net, on JU?-c., to. Ja_ckso~; Mich., 205 miles;. trackage (C. C. C. & St. L .) $9,005; int. and taxes, $2,872; balance, surplus, $6,133. In 1894-95, Frankfu?. to Qmcmnati, 42 m . Owns termmal property in Cincinnati. gross, $27,912; net, $12,409. O~gamzed m June, .1 897, and took ov:er the Ohio Division of Cincin• Cleveland Canton & Southern KK.-Owns Clevel"nd to zanesn a t1_Jackson & Mackinaw and then built 19 miles of road from .A.ddi· .., son June. to Jackson and acquired valuable terminals in Cincinnati. ville, 0., 145 miles; Canton to Sherrodsville, 43. miles; other branches, In Dec., 18<i7, reorganization committee receipts reoresented the 16 m.; leases Massillon RR., 6 m.; total, 210 miles. (V. 54, p. 844). securities which had not been yet issued. RECEIVERSHIP.-J. W. Wardwell is receiver. STOCK.-.A.uthorized, common $5,000,000; preferred 5 p. c. non·cum. FORECLOSURE.-International Trust Co., Boston, trustee of Cleve. subject to redemption, ;tl5,000,000. land & Canton ftrsi mortgagoe, filed its foreclosure suit in March, 1896. BONDS.-This company has authorized $4,500,000 new bonds being Suit for foreclosure of Coshocton & Southern mortgage was instituted a t the rate of $2,500,000 on the railroad and equipment and $ 2 000 000 in 1895. Knickerbocker Trust Co., trustee of consol. mortgage of on the Cincinnati terminal, and preferred and common stock to an 1892, filed notice of foreclosure proceedings on Nov. 16, 1894, and a m~untsufflcient to enable it to carry out the pro vis it ms of the reorgan- in August, 1897, filed a cross·bill attacking the validity of the Cleve. & i zation plan and also to complete the Cincinnati te.rminal. The word Canton first 5s.-V. 65, p. 277. "Terminal" may be included as part of its name.-V. 65, p. 620. REORGANIZATION.-In Feb., 1898, no agreement between various Cincinnati PortsDlouth & Virginia RK.-Owns from Idle• interests had been. reached. wild, O., to Sciotoville, 107 miles; trackage (Cin. Lebanon & Nor. COMMITTEES.-Oleveland cl Oantunftrst mortgage committee: Charles to Cincinnati, 4 miles; total, 111 miles. Ohio & Northwestern was sold .A.. Peabody, Jr., H. L. Thornell andH. K. Pomroy; deposita.ry,Mercan• in foreclosure March 13, 1890, and reorganized as above June 24, 1891. tile Trust Co. V. 59, p. 697. This committee's Trust Co. receipts for Preferred stock is entitled to 5 per cent non•cumulative dividends, then $2,000,000 firsts have been listed on N. Y. Stock Exchange. common to 5, then both pro rata. ~referred in Jan., 1896, paid 3 p. c.; ateveland cl Oanton equip. t?-ust an_d improveme!l-t bondholder'\· com• July, 1896, 2 p. c.; in 1897, 4 p. c.; m 1898, Jan., 2 p. c. mittee.-.Morgan Rotch, H. B. Hollms, H. F. Dimock, C. T. B ,rn.ey, BONDS-In June, 1895, issued a mortgage for $500,000 of 5 per George P. Messervy, George N. Smalley, Charles H. French; deposita• cent bonds for l:nprovements and equipment. Bonds are subject to ries Internati ..naJ Trust Co., Boston, and U. S. Mortga~e Co., N. Y. V. call at 105 on ninety days notice in the order or their numbers. Trus- 59 p. 920, 1006. Oonsolidated M01·tgage--Robert Maclay, Louis C. tee, Investment Trust eo. of Philadelphia. Ledyard and William Rotch. Ooshocton ii Southern-P. W. Smith, C. W. Plummer and 0. Prescott; depositary is International Trust Co., EARNINGS.-6 mos., ~ 1896 .•••.....•.. Gross, $141,540; net, $21,804 Boston; more than two•thirds have been deposited. 1 3 1 9 2 July to-Dec, 1. 5 8 5 .......•••.. Gross, l58,32 ; net, 30,284 COUPON PAYMENTS.-Coupons due Ju1y 1, 1894, on Clev. & Canton EARNIN')S.-Fiscal year ends June 30. Report for 1895·96 was in ttrstswere paid Dec. 31, 189-i; Jan., '95, paid June 29, 1895; July, 1896 V 63, p. 791, showing gross, $289,164; net, $43,881; taxes, $6,300; and subsequent, coupons were not paid. V. 62, p. 40. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis w https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE CLEVELAND, CINCINNATI, CHICAGO & ST. LOUIS RY. JANUARY, .RAILROAD ~'1'00.K.S AND BONJJ&. 1898.] Subscribers w-ill conCer a great Cavor by giving immediate notice oC any error discovered in these Tables. RAILROADS. For explanation of column headings, &o., see notes on first page of tables. I INTEREST OR DIVIDENDS. .Honds-Pr1ncl• Miles Date Size, or Amount pa.I, When Dae. of of Par Outstanding Rate per When !Where Payable, and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. -------· ..... Cl.e-r,eland Cincinnati Chicago & St. LouisCommon stock ($28,700,000 authorized) Preferred stock, 5 per cent, non•oumulative ....... C. I. St. L. & C. con. M.,dra.wnat105,s.f.1 p. o. o" i75 Gen. lstM .. $10,000,000 gol~ s.f. not dr'n .. o&r Bel. & Ind. 1st mortgage (part ue yearly) ........ ffg Clev. Col. Cin. & Ind. lat M., fund ........ 391 Con. mort. (see text) drawn at 10 it unst'mp'd 391 Gen. oonsol. mort, ($12,000,000) gold..... o* & r 391 Indian & St. L. 1st mortd in 3 ser. of $667,000. o. 72 2d M.($2,000,000),~l ,Indianap. to Terre H o. 72 Cl.Cin.Ch.&St.L., Whi Water Val. Div, lat,g... o~ 62 45 Columbus Sprinc.eld & Cincinnati lat Mort ... Sprint & Col. D v. (Col. Sp. & Cin.), lat M., g.o* 45 Cairo ivision 1st Mort., $5,000,000, gold ... o" 267 St. Louis Division, collateral trust, gold .... o&r 194, Cin. Wa.b. &Mich. Div. lat mortg~e, gold ..•. o" 203 Gen. mort. 100 year for $50,000, 0 g . . .. . c"&r l,808 OBLIGATIONS FOR PROPRIETARY LINES, Cinoinna.ti Lafayette & Chioafo,lst mort., gold.c 56 Cincinnati Sandus~& Cleve and-Pref. stook ... Consol. ,now 1st) . ($3,000,000) gold... . ..... o iifo Cincinnati & Spring.-lst m., p.& i.gu. See text.o 48 9d mort15-a.ge, Big Four owns $526,000 more .. o 48 Louisv. & effersonv. Br1df,e lat M.-See that Co. Ote1'6land Lorain cl Wheel.- ref. stook $5,000,000. ..... Cleveland TusoarawasValley&Wheel't· 1st M . . . 158 t,"lev. Lor. & W. Ry., cons. 1st M., $5,00 ,000, g.o• 192 General mortgaje, $1,000,000, gold, N .......... c 192 Ca.r trusts {due 5,000 monthly) Dec. 31, 1897... Ole1'. cl Mah. Val.-Con.M. (now lst)$3,000,000,g.o&r i25 <Jle1'. cl Mar.-lst M., s. f., not drw., gold, gnar ... c* 97 sinkinB isso 1886 1864 1869 1874 1884 1869 1882 1890 1871 1890 1890 1890 1891 1893 $100 $27,987,835 F. & A. N.Y.,J. P.Morgan&Co. Au~.,'93, 1¼% 100 10,000,000 See.text. Q.-J. do do Ja.. 0'98,114% 1,000 710,000 M.&N. do 6 do May 1, 1920 1,000&o 7,685,000 4 g. Q.-F. do do A11i. 1, 1936 1,000 52,000 do J. & J . 7 do to an. 1, '99 1,000 3,000,000 M.&N. do 7 do May 1, 1899 1,000 4,138,000 7 or 6 g. J. & D. do do June 1, 1914. 1,000 3,205,000 6 g. J. & J. do do Jan. 1, 1934. 1,000 2,000,000 Various do July 1, 1919 7 do 1,000 500,000 6 g. M.&N. do Nov. 1, 1912 do 1,000 650,000 4 g . J. & J. do July 1, 1940 do 78,000 M.& 8. do 7 Sept. 1, 1901 do 5J-6°l~. 1,103,730 4 g . M.& 8. do Sept. 1, 1940 do 1,000 5,000.000 4 g. J. & J. do Jan. 1, 1939 do 1,000&o 10,000,000 4 g. M.& N. do do Nov. 1, 1990 1,000 4,000,000 4 g. J. & J. do July 1, 1991 do 1,000 7,574,000 4 g. J. & D . do do June 1, 1993 1,000 50 1,000 1,000 1,000 792,000 428,997 2,571,000 2,000,000 125,000 1878 1893 1896 100 1,000 1,000 1,000 isss 1895 1,ooo&c 1,000 5,000,000 700,000 4,300,000 400,000 275,000 2,935,000 1,250,000 1871 isss 1871 1872 ·-·· STOCK, ETc.-On June 30, 1895, capital stock outstanding wa.s $12,799,459i of whioh $4,151,209 was common and $8,648,250 _preferred; funned debt, $5,132,183; including equipm1mt trust obliga.· tions, $559,183, but noti including real estate mortgage, $105,700; floating debt, $1,855,778. The outstanding bonds are given above, as reported to the Ohio State RR. Commission June 30, 1895, though in 1893 two loans as shown were out merely as collateral, as were also $900,000 (the balance of the authorized issue of $2,000,000) of Cleveland & Canton equipment and improvement bonds and $584,000 C. C. & So. 1st oonsols., for a loan of $900,000. E.A.RNINGS.-5 months, 1897 ...... _.GrORS, $287,898; net, $70,610 July 1 to Nov. 30. 51896 ........ Gross, 323,904; net, 58,582 ANNUAL REPORT.-Fisoal year ends June 30. For 1896-97, gross was $687,959; net (over taxes), $84,868; interest, rentals, eto.J. $242,· 119; balance, defici~ for year, $157!251. In 1895~96, gross, $7u6,8l4; net, $138,496.-(V. 63, p. 75, 115 6, v. 64, p. 516, V. 65, p. 277.) Cleveland Cincinnati Chicago & St. Louis Ry.-(SeeMap.JOperates an extensive system of roads radiating fr,.m Indianapolis, Ind. , westerly to Chicago, Peoria, Cairo, Ill., St. Louis, and easterly to Sandusky, Cleveland, Columbus and <.Jincinna.ti, Ohio, and southerly to Louisville, with branches. As shown on map the system comprises: fi See this company. c Owned <!4,rectly- Miles. Leased and controlled. Miles. Cleveland, O., to Columbus, 0 .. 138 Cincinnati & Springfield Ry.Gallon, 0., to Indianapolls ••••. 203 Lud.G've(6m.fr.Cin.)~Day'n 48 Delaware to Springfield .. -..... 50 Colum. Hope&Greensb gRR.- 26 Cincinnati toLa.fayette ......... 175 Trackage into Cincinnati, &c. 32 Indianapolis to Terre Haute ..•. 72 -Harrison Branch. ............ . . 7 Total included in earns ... 1,838 Leasedr-entire stock owned- Operated; earns. kept separate- Cinoin. Lafayette ·& Chio. Ry.- 57 Peoria & East'n Ry. (,0.352 Cairo Vincennes & Chio. Ry.Kankakee & Seneoa RR.42 Cairo, Ill., to Tilton & branoh.267 Mt. Gilead Short Line........ 2 St. Lou. Div. T. H. to E. St. L.193 -Columbus Springfield & Cin.Total of system June 30,'97.2,234 Columbus, 0., to Springfield.. 45 Trackage Ill. Cent. into Chio .. White Water-Harrison, Ind., to On percentage b a sis ... . .... 5 56 Hagerstown, Ind.............. 62 Trackage int o Jeffersonville . Oin. Wabash & Michigan Ry.B & 0 . S. W ....... . .... • .... 5 53 Benton Harb. to Rushv. & Br.2491 Operates indepen den t lyOther lines (aJ .... .............. 44 Dayton & Un. RR. (i!) .......... 47 Cincin. Sandusky & Cleve. ~y.Double track . . .. . . • .. . • • • . . • . . . 60 Sand'sky, 0., to Dayt'n, O.etc.170 a No debt, or bonds all owned. The company is also one·fourth owner of the Peoria & Pekin Union Ry., one-seventh owner in the Terminal Railroad ~ssociation of St. Louis and two·flfths owner of the Indianapolis Union Railway and partial owner of Dayton & Union, which i s opera ted independent ly. HISTORY, ETC.-A consolidation of the Cinoinhati Indianapolis St Louis & Chicago Railway Company, the Cleveland Columbus Cinoin• nati & Indianapolis Railway Company and the Indianapolis & St. LouiP Railway Company, made in July, 1889. It is one of the so•oa.lled Vanderbilt roads. The St. Louis Alton & Terre Haute main line e.nd branch were puroha.i;ied in 1890 for $10,000,000 of 4 per cent bonds. 1n 18~9 acquired the entire stock of the Cairo VinoenneR & Chicago and in 1890 leased the Peoria & Eastern (which see). In 1890 also l)raotically absorbed the Columbus Springfield & Cincinnati and the Cincinnati Sandusky & Cleveland. Entire common stock of the latter ls owned, and under a lease running till 1969 interest is paid on bonds and dividends on preferred stook. V. 51, p. 457, 608. CAPITAL STOCK.-Aooording to Ohio statutes company has privilege of retirin~ preferred stock at par after June 27, 1892. On Jan. 1, 1890, the common stock was $20,500,000 ; it has been increased to preR· ent figure to acquire stocks of lines absorbed, eto. DIVIDENDS1890. '91. '97. '92. '98. '93. '94·'96. Common ....... .. ) 4 p. o. 3 3 3 none none .... Preferred ........ 5From 1890 to 1896, incl., 5%. 114 below In 1898 onpr efe1·red, Jan., 114 p. c.-s ee V. 65, p . 1145. BoNDs.-The sinkmg fund provision of the Oleveland Oolum bus Oi n cinnati ct Indianapolis consol. bonds of 1874 may be canceled at option o:t holders, and the bonds so stamped. The principal or these bonds is payable in gold, but the interest is payable at option of holder either in awful money at 7 per cent per annum or in British sterling a t 6 p. c. Of the Indianapolis cl St. Louis first mortgage bonds series "A" are J. &J.; series "B,''M. &8.; series "C,"M. &N. The $10,000,000 St. Louis Division bonds of 1890 issued to the St. Louis Alton & Terre Haute in payment for its line from Terre H a ute, Ind., to East St. Louis, Ill., and branch, 193 miles, and now forming the St. L. Div. of the C. C. C. & St. L. are now a first collateral lien on that line; $323,000 bonds are held in the sinking fund. The bonds a re not subject to oall. They are direct bonds of the Clev. Cin. Ch. & St. L. and a.re secured by deposit in trust of a purchase money morts-age for $10,000,000 executed by the Cairo Vincennes & Chicago, w hich pur• chased the St. Louis Div . in 1890. For deed of trust see V. 52, p. 42-45. As to the Cincinnati Wabasn & Mi ch. 4 per cents, see V. 52, p. 718. 'J.'he 100 year m-0rtgage of 1 893 is limit ed to $50,000,000, of which $29,252,000 were reserv ed to retire at maturity b onds outstandin~ on t"l!e _various lines (ex clus~ve _of_ q airo division, Peoria division, Michiga n division and the St. Loms di n s1on west of T erre H a ute). https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis c c I 7 g. M, & 8. M.&N. 6 5 g. J. & J. A. & 0. 7 J. & J. 7 ···1·· 5 g. 5 g. 5 5 g. 4¼g. do do do do do do do do do do Sept. 1, 1901 Nov. l,'97, 3~ Jan. 1, 19 8 Apr. 1, 1901 Jan. 1, 190i N. Y., Blair 36 Wa.11 St. Oot., '96, 1% A.".&,'·o. do do Oct. 1, 1898 do A. & 0. do Oot. 1, 1933 do J. & D. June 1, 1936 do J. & J. M'thly to 190Z See text N.Y.,Winelow,Lan.&Co. Jan. 1, 1938 M. & N. N. Y.,Farm. L. & T. Co. Me.y 1, 1936 $15,748,000 can now be issued (sinoeJuly 1,1894,) for new construction, etc., at the rate of $1,000,000 a. year: $1,000,000 were so issued in 1895·6, and $1,000,000 in 1896-7: $574,000 were also issued in 1897 for prior bonds. V. 64, p. 1224. Union Trust Co. of Indiana.polls is trustee, vice Theodore P. Haughey. The Oincinnati Sandusky cl Oleveland oonsols of 1888 are now a first lien ; of the $3,000,000 authorized, $428,850 can only be issued on retirement of like amounts of the preferred Rtook. The Oincinnati cl Springfield firsts are guaranteed, $1 1000,000 of them by C. C. C. & Ind. {now consolidated with Cl. Cin. Cn. & St. L.) and $1,000,000 bv the Lake Shore & Mich. So. GENERAL FINANCES.-On July 1, 1897, bills payable ouly $3,425; there were $375,980 equipment notes, payable in yearly instalments, $141,680, becoming due m 1897·98 ; also $200,000 Am. Express Co. advances. Guarantees interest on Louisville & Jefferson ville bridge bonds iointlywith the Ches. & O. Traffi,c.-In calendar year 1895 carried 8,848,275 tons, of which bituminous ooal furnished 20 p. o., grain 12 p. o. and lumber 11 p. c. LATEST EARNINGS.-From July 1 to Nov. 30 (5 months.)5 mos.- Gross. Net. Int., &c. Bal., sur. 1897.. . ................ $6,095,822 $1,383,002 $1,202,515 $180,487 1896................... 5,484,974 1,334,529 1,174,829 169,?00 ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting last Wednesday in October. Report for 1896·97, with llalanoe sheet, &c., in V. 65, p. 459,467. !:lee also editorial, p. 443. Year end'g June 30- 1897. 1896. 1895. 1894. Passenger earnings. $3,ti65,193 $4,035,326 $3,785,410 $4,104,769 Freight.............. 8,254,873 8,576,700 8,783,929 7,866,967 Mail and express.... 912,449 847,982 815,317 803,078 Total earnings .. . $12,832,515 $13,460,008 $13,384,656 $12,774,814 Oper'g exp. & taxes. 9,864,665 10,293,703 10,254,068 9,750,503 P. o. op. ex. to earns. 76·87 76·47 76·61 74·80 - - - - - - - - - - - - --- - - Net earnings .... $2,967,850 $3,166,305 $3,130,588 $3,024,311 252,319 284,596 Rentals, interest,&c. 263,744 259,235 Tota.I net inoome. $3,252,446 $3,418,624 $3,394,332 $3,283,546 Interest on bonds ... $2,687,049 $2,639,863 $2,642,159 $2,554,235 237,091 204,647 202,547 Rentals, etc ..•.•••••• 221,341 375,000 500,000 500,000 Dividends ........... 500,000 Bala nce .......... df.$46,694 sur. $74,114 sur.$49,626 sur. $7,970 -(V. 64, p. 233, 1181, 1224; V. 65, p. 443,459,467,976, 1219.) Cleveland Lorain & Wheeling Ky.-(See Map.)-Owna from Lorain, o.J. to Bridgeport, 0., opposite Wheeling, W. Va., 158 miles; Lester to uleveland, 28 miles , and branch to Bellaire, 0., 6 miles; total, 192 miles, and has trackage into Wheeling. HISTORY.-This railway is a consolidation Nov. 23, 1893, of the C. L, & w. rai lroad and the Cleve. & Southwestern. (See V. 57, p. 979.) STOCK.-Common, $8,000,000, and preferred, non-cumulative 5 p. o., $5,000,000, par $100. After dividends of 5 p. o. have been paid on the preferred and common both stooks share alike.-V. 60, p. 1058. DIVIDENVS.-Onpreferred in 1896, Ma.roh, 1 p. o. June, 1 p. o.; Oct., 1 p. c.: none since. B0NDS .-The consolidated mortgage for $5,000,000 (U. 8. Mtge. Co., N. Y., trustee) covers 192 miles main line, including the extension of 28 miles to Uleveland, completed in Dec., 1894; also 70 miles sidings, equipment, terminals, etc., now owned or hereafter acquired. The mortgage provides the retirement of the Cleve. Tuso. Val. & Wheeling firsts at maturity. V. 60, p. 177. The general mortgage was issued for improvements. The oar trusts were issued for $400,000, payable in 80 monthly instalments of $5,000 eaoh; they cover 6 engines and 1,000 coal oars. Bills payable June 30, 1896, $54,709. EARNINGS.--5 months, 1897 ........ Gross, $632,698; net, $215,707 July 1 to Nov . 30. 5 1896........ Gross, 510,644; net, 150,376 REP0RT.-For year ending June 30, 1897, gross, $1,205,148. Report for 1895·96 was in V. 64, p. 39, showing: Gross, $1,586,917 • . net, $442,752; interest on bonds, $281,045: int on car trusts, $16,· 228 ; dividends, $100,000; bal. s urplus, $45,479. In 1894-95, gross, $1,360,464; net, $402,928.-(V. 64, p. 39, 568.) Cleveland & Mahonint?; Valley Ky.-Owns from Cleveland, o., to Sharon, Pa.,81 miles [57 double track]; Niles, 0., 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 $4.55,000 were issued to retire the last of the prior bonds a nd the consols are now a. first lien on the entire road. Coupon interest is J. & J., registered interest, Q.-J. Btook is $3,259,200, of whioh $2,758,250 is held by "Atlantic First Leased Lines Rental Trust Co., Limited," of London. Dividends, u sually 12 to 13 per cent per annum; in 1897, 13~ p. o.-V. 63, p . 968.) Cleveland & lliarietta Ky.-Owns from Marietta, 0., to Ca.naI Dover, and branch, 103 miles , a nd 8 miles, Va.lley Junction to Canal Dov er, leased. Penns_Yl"."ania RR. obtained controlinOot., 1893, havin~ p urchased about two thirds of the stook. St ock, $2,000,000-pa.r $100 , c M.AP OF THE CLEVELAND, LORAIN · • • WHEE.LING RAILWAY AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ne~ Pa. ls JANUARY, 1898.j RAILROAD STOOKS AND BONDS. Subscribers w-111 confer a r:reat favor by giving lnunedlate notice of any error discovered in these Tables. Bonds--PrinciRAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Amount pal.When Due. Par Out tanding Rate Per When Where Payable, and by Stocks-Last of For explanation of column headings, &c., see notes of Road. Bonds Value. Dividend. Cent. Payable Whom. on first page of tables. --- ---- - - - - - - - ---- - - - $50 $11,226,050 Q.-M. N. Y., Winslow, Lanier. Dec. 1, '97, llli 7 Oltoe. ti: Pittsb.-Stock, 7 p. c. '5ar. by Penn. Co .... Nov. 1, 1900 i867 1,000 1,310,000 M.&N. do Consol. sink. fund mort. for 5,000,000,notdr'n.c do 7 Jan. 1, 194j 1,000 41.gg. .J. & .J. 3,000,000 do do Gen. M. for $10,000,000 fld ~ series A, ....... c· 199 1892 1,000 41.gg. A. & 0. 1,628,000 Oct. 1, 1942 guar. p. & i. {end.) Pa. R. series B .......... 199 1892 do do 1,000 5,500,000 4 g. M.& N. N.Y., Brown Bros.&Co. Nov. 1, 199:S 87 1895 Ole11 •.Term'l t1: Valley-lstM., $6,000,000 gold.c*&r 1,000 300,000 A. & 0. Boston, N. Y. & London. Oct. 1, 194:S 5 OoastRy;::L,N· Scotia.-lstM. $5,000,000 ($& £).c* ......... 1895 rn 1868 100 &c. 600,000 le--lstM.,lf,593,400,und. Read.M.of'96c Oolebroo J. &D. Phila., Read. Co. Office. June 1, 1898 6 Uotorado Midland-SECURITIES TO BE I SSUED AND Assu MED. .... 100 .... 3,420,200 To be in voting t rust for 6 years or mor e . Common stock, $4,000,000...... .......... 1'00 Preferred stock, 4 per cent, non-cum.,$6,000,000 ....... 4,590,800 To be in voting t rust for 6 years or mor e. To be issued only if n ecessar y prior to July, 1903. Pr.lien lst:\1.bds.,Nos. 9,501 to 10,000,incl.(text) ..... July 1, 1947 6,250,000 2-3-4 g. J. & J. N. Y , Central Trust. 1st mortgage, $10,000,000. See text ..••.... C.c* ...... i897 1,000 732,000 JuJy l, 1947 do .....•.. C.c* ...... 1897 4 g. J. & J . do do do 1,000 1888 7 g. M.& 8. Sept. .'97, p<l when due. Moh. 1, 1898 Equipment bonds, s. f., drawn at 105, gold ..•.. c* 150,000 1,000 1890 1, 1900 134,000 Jan. due. g. when 6 pd. 98, an.,' J J. & J. Eq~me~t bonds, B., drawn at 105, 5.01d .... ·- ·~ 1895 May 1, 192:S 5 g. M.&N. Ph!ladelphia. 500,000 Ool. ioming d Gt. No.-lst M., $6,00 ,000, g .. c 63 1887 706,000 6 g. J. & .J. Oolum iaNewb.dLaurens-lstM,for$12,000 p.m.,g .Jan., 1937 2,000,000 Columbus d Oincinnati Midland-Common stock .. ·--· ··--·· ···--j_ & ·is96 1,000,000 Jan., '96 div. last paid. .J Preferred stock (see remarks) non-votinji ......•. ---· ··:,:~- J. 2,000,000 J. & .J. Jly,'96,pd.Oct.l,'97atF Jan. 1, 1939 1st M., ext.~ar. p. & i. by Cent. 0. and . & O.c· "'ii 1884 ..... 100 11,696,300 .............. Colum..b. H. al. & Tol.-Common stock ... .. . ..... ....... ...... 100 2,500,000 Pfd., non•cumulative, red. at 100 ..............•. ..... J. & J. 5 Jan:2;i97,"21g• 500,000 5 g. Matur'y Clevelan(i;<:>°.,so·c.f. Sav. Receiver's certificates, $500,000, /f;°ld (see text). ---· i897 Col. & Hook. Val. 1st mort., 7s, ex . Oct., 1897.~ .. 76 1867 500&0. 1,401,000 6 g. A. & 0. Oct., '97, pd. when due. Oct: ""i,""i898 1,000 Col. & Toledo 1st M. (Columbus to Walbridge) .. O.... 118 1875 2,500,000 F. & A. Aug., '97, pd. when due Aug. 1, 190:S 7 1,000 Col. & Tol. 2d mort. (Columbus to Walbridge) ... c 118 1880 600,000 M.& 8. Sept.,'97, pd. when due. Sept. 1, 1900, 7 1,000 85 1880 Ohio & West Va. lstmort. (Logan to Pomeroy) .. o• 1,584,000 M.&N. May, '97, $d. when due. May 1, 1910 7 1,000 8,000,000 5 g. M.& 8. Sept.,'97, 20 advanc'd. Sept. 1, 1931 Consol. M.,!..,onroadand Hocking Coal & RR.C 329 1881 1,000 2,000,000 Gen.M.,gol ,on road & Hocking Coal& RR.Co.K. c 329 1884 6 g. J. & D. Dec. '96, coup last paid .June 1, 190C 1 ,000 Car lil'Ust bonds s. f., red. at par, gold ............. ..... 1894 1,236,000 6 g. Q.-J. N. Y., Atlantic Trust Co. Apr. 1, 1904 1,000 1894 Ohio Ld. & Ry.Co., M.,g,.s. f., red.at 110.see text 6 g. J. & .J. N. Y., State Trust Co. Jan. 1, 1914 175,000 1,000 17 1895 300,000 6 g. F. &A. Wellston&.Jack.BeltL.,lstM.,$300,000,aold, gu. do do Aug. 1, 191:S 1,561 000 4 g . J. & J. Jan. '97 coup last p aid July 1, 1996 G eneral lien mortg a g e ,$30 ' 000 000 a-ol ... c* &r 346 11396 1 OOO&o i99 ---· -----· 0 ---· ---· i:ooo i:ooo i:ooo BONDS.-New first mortgage for $2,000,000 is dated May 1, 1895, and is guaranteed as to principal and interest by the Penn. Oompany (tr11Stee, Farmer8' L. &T. Co., N.Y.). Sinking fund of 1 p. c. commences July 1, 1896; bonds bought at par but not subject to call. REPORT for year ending Dec. 31, 1896, in V. 64, p. 1086, shows oss $360,308; net, $52,269; other income, $4,107; interest on bonds, 56,250; balance, sur., for year, $126. In 1895 gross, $367,753; net, 84,859-(V. 64, p. 1086.) Cleveland & Pittsburg RR.-( See Map Pennsylvania Railroad. Cleveland, 0., to Rochester, Pa:i.124miles; branches-Bayard, O.,to New Philadelphia, 31 miles; Yellow vreek to Bellaire, 43 m.; trackage, Roch• ester to Pittsburg (Pittsb. Ft. Wayne & Chic.), 26 miles; total, 224 miles LEASE-Leasedfor999years, Dec. 1, 1871, to Penn. RR. Co., and lease transferred to Pennsylvania Co. Rental, 7 per cent on $11,226,050 stock, and organization expenses, the lessees assuming all liabilities BONDS.-General mortgage bonds are all equally secured; they can not be called for the sinking fund. See guaranty, V. 56, p. 604. EARNINos.-Report for year ending Nov. 30, 1896, was given in V. 64, p. 605, showing gross, $3,226,615; net, $1,168,972. Profit to lessee was $37,304 in 1896 and $342,901 in 1895, against loss of $55,452 in 1894. (V. 62, p.232, 5'16, 1087; V. 64,P,37.i', 605; V. 66, p. 81.) Cleveland '.l'ertnlnal & Valley RR.-See Map Baltimore & Ohio. Owns from Cleveland, Ohio, to Valley Junction, 75 miles, and 12 miles of small branches. Successor as per plan in V. 60, p. 437 and V. 61, p. 70, to Valley Ry. (of Ohio> sold in foreclosure Sept10, 1895. The Baltimore & Ohio controls the new comp11,ny. A traffic agreement was made with Wheeling & Lake Erie in 1895. V. 63, p. 155. STOCK-Of the $5,200,000 common (par $50) B. & O. owns $4,594,300 common and of the $2,200,000 preferred, $953,750; par $100. BONDS-The first mort. bonds are guaranteed, principal and interest, by the B. & 0., endorsed; interest i paid regularly from earnings. EARNINGS.-Year 1896-97, gross, $797,327; net, $260,156; interest, $220,000; taxes, $22,644; surplus, $17,512. (V. 63, p. 791.) Coast .Ry. of Nova Scotla,-Road from Yarmouth to East Pubuico, 31 miles, was in operation in Dec., 1896; 20 miles additional, to Barrington, is under construction. Road projected to Lockport, 65 miles. Capital stock auth. $100,000. Mortgage tru tee, International Trust Co., Boston, Mass. President Thomas Robinson, Yarmouth. Oolorado 1'.lldland Ry.-Owns from Colorado Springs to New Castle, Col., 2m miles; Jerome Park branch, 15 miles; Aspen branch, U! m.; Leadville branch, 4 m.; total owned, 256 miles (including 2·9 miles of Busk Tunnel Ry.) Leases New Castle to Ritl.e Creek, 14 m. and Rio Grande Junotion &R., Rifle Creek, Col., to Grand Junction, 63 miles; total owned and leased, 333 miles. ORGANIZATION.-Incorporated Oct. 12, 1897, at Denver, Col., as successor to the Colorado Midland Railroad (previously in the Atcbison system), foreolosed Sept. 8, 1897, under both first and consol. mortgages and reorganized per plan in 64, p. 122'1, 1226. STOCK.-Both classes or stock will be held in a voting trust for six years and thereafter until the first mortgage bonds shall have received 4 per cent interest in cash for three successive years. BONDS. - Of the $10,000,000 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 f1,r the interest up to 4 p. c. not paid in cash], and 4 p. c. after July 1, 1902. Of the new 4 per cents sufficient were r e erved to etire tlie equipmt'nt bonds as they mature and to provide for purchase of Busk Tunnel 1st 7s for $1,250.000 and Aspen Short Line 1st 8s for $108,000; also $1,355,100 new 4s, $590,700 pref. and $579,800 common stock will remain for future needs. To January, 1898, no agretiment had been reached with the Busk Tunnel bondholders.-V. 65, p. 327, 367. The right is reserved to i sue $500,000 prior lien 4s if necessary prior to July 1, 1903. Oharges.-Obligatory charges for tirst tnree years under plan, including taxes and rentals, $372,051 (including $50,000 f<'r interest on bonds reserved for Busk Tunnel), against $8;:$1,320 for old Co. LATEST EARNING -4 mos. t 1~97 ... Gross, $655,186; net, $169,776 84,160 51 96 . Gross, 575,917; net, July 1 to uct. 31. EARNINGS.-Thf' statement for years ending Jnne 30 is a follows ----··--·· a::ii:; interest of the bonds (which are endorsed by the Central Ohio) and of 3 per cent per annum; commencing wltb .July 1, 1895, on the preferred. First mortgage interest due July 1, 1896, was paid Oct. 1, 1897. (V. 65, ~- 619,824, I2I8.) See description of mort., etc., p. 6 of SUPPLEMENT April, 1896. DIVIDENDS-On preferred, in 1895, July, 11.g p. c.; in 1896, Jan., 11.g p. o.; none smce. B. & 0. owns the common stock. BONDHOLDERS' COMMITTEES.-Charles s. Hinchman, Chairman ; George Stevenson, Secretary, 138 South Third Street, Philadelphia; Harry F. West, Edward B. Smith and Charles Parrott. A majority of the ti.rats are reported to have assented. Depository, Guar. Tr. & s. D . Co., Phila.-V. 64, p. 180,707; V. 65, p. 619. Middendorf Oom·m ittee.-J. W. Middendorf, 213 East German Street, Baltimore, and Owen Daly.-V. 64, p. 233, 330. EARNINGS.-Statement for year ending June 30, 1897, in V. 65, p. 974, shows: gross, $360,885; net.z. $61,004; taxes, $12,647; interest charges (not paid), $90,000. In 1!'195-6, gross, $376,558; net, $97,722. No charge made in 1896-7 against the road for use of B. & O. cars and engines, except for repairs. The Midland owns no locomotives and only 2:.!8 cars.-(V. 65, p. 619,824, 914.) Columbus Hocking Valley & Toledo Ry.--Owns main line from Pomeroy, 0., to Walbridge, 0., 250 miles, with trackage (Penn. ~R. System) Walbridge to Toledo, 6 miles; branches to Athens. Nelsonville, etc., 73 miles; Wellston & Jackson Belt Line, from McArthur Junction to Jackson, 17 miles (opened in February, 1896 ; 10 miles is electric as well as stea.m); total, 346 m.; second track, 25 m. RECEIVERSHIP.-On Feb. 25, 1897, Vice-President N. Monsarrat was appointed receiver. V. 64, p. 422. Receiver's certificates for $500,000 were authorized m July, 1897.-(V. 65, p. 194; V. 66, p. 133.) COJ\DUTTEE.-Oonsot . .Fives-Foreclosure suit under consol. mortgage has been brought. A majority of the consol. 5s and also general morto-age 6s have been deposited with J.P. Morgan & Co., whose receipts For the consols. have been listed on New York Stock Exchange.-V. 64. p. 754; V. 65, p. 151; V. 65, p. 277. In J anuary, 1898, several plans of reorganization were under consideration. COUPON P AYMENTS, ETC.-Consol. 58 coupons due March 1, 1897, were purchased by J.P. Mor~an & Co. who al o advanced $20 on each Sept., 1897, coupon.-V. 65, p. 411. Col. & Toledo 2d mort. coupons. due Sept. 1, 18~7, were paid when due, and coupons of Col & Hock Valley 1st mort. due Oct. 1, Ohio & W. Va. 1st 7s due May 1, 1897. Ohio Land & Ry. 1st 6sdueJuly l,Col. &Toledo lst7s due Aug.1, were paid when due at State Trust Co., N. Y. V. 64, p. 663, 842. HISTORY, &c.-Tbe capital stock of $1,500,000 of the Hooking Coal & RR. Co., controlling 10,000 acres of coal lands, was purchased iD 1881 for $8,000,000. .A.s to status of Burke suit see V. 64, p. 516. BONDS-Columbus&Hocking 1st 7s due Oct. 1, 18tl7, were extended until Oct. 1, 1898, or for any longer period during which the property shall be in the custody of the Court at 6 p. o. per annum, such interest to be payable in gold coin.-V. 65, p. 620. The Ohio Lana cf: Ry. bonds ($1,500,000 authorized, N. Y. Security & Trust Co., trustee), are guaranteed principal and interest by the O. H. V. & T. Ry., and are so endorsed. They cover about 11,000 acres of coal lands. Bonds issued $1,475,000, of which $100,l 00 reserved to take up land purchase notes and $1,200,000 held by trustee of general lien bondl:l. Receipts from royalties on lar:.d owned by company were estimated at $103,000 for year 1895. Wellston & Jackson Belt Line.-Tbe first mortgage bonds are guaranteed. Capital stock, $255,000, all owned by C.H. V. & T. Ry. The Gene1·at Lien .Mortpage of 1896 (Guaranty Trust Co. Trustee) covers all the property and securities of ~he company and all property hereafter to be acquired with the proceeds of ttie bonds. The total issue authorized is $30,000,000 (see V. 63, p. 228, and application to N. Y. Stock Exchange in V. 63, p. 1162). To June, 1897, Ohio Land &Ry. Uo. bonds for$1,200,000 had been exchanged for general lien 4s. Total general 4s and scrip issued, $2,152,851, of which $590,884 held by receiver (Dec. '97) subject to order of court. EARNINGS.-Jan. 1 to Dec. 31, 12 months, gross, $2,533,605 in 1897; $2,480,924 in 1896. ANNUAL REPORT.-Fiscal year ends December 31. Annual meetin~ will hereafter be held the third Tuesday in March. Traffic i mostly Rent, Taxes,etc. Bal.forint. freight, and 64 per cent of this is bituminous coal. The grades have been Net. Yrs. endJune30. Gross. sur.$135.058 so reduced that the average train load is larg&.-in 1894, 450 tons. $200,316 1896-7 ...... . .• ... .. $1,671,543 $335,374 sur. 337,431 220,636 1~95-6. .. . .. . . . .. . . . 1,906,280 558,067 1892. 1893. 1894. 1895. Year ending Dec. 31sur. 210,539 158,612 1894-5 .............. 1,592,661 369,151 Gross earnings .....•....•. $2,676,421 $2,688,700 $3,270,362 $3,372,585 NEW OFFICER .-(Nov., 1897.)-President and Manager, Georl?e W. Net earnings .........•••.. $1,200,607 $1,245,926 $1,461,627 $1,567,457 Ristine, Denver, Col.; Vice President, B. Aymar Sand~, New York; M:tscellaneo11S. .. . . . . . .. . . . 10,000 10,000 10,000 19,606 Secretary and Treasurer, Oscar Bunke, 41 Wall St., N. Y. Total receipts .. •....•. $1,220,213 $1,255,926 $1,471,627 $1,577,457 DIRECTOR ·-Frederick P. Olcott, B. Aymar Sands, James N. Jarvie, Charles F. Ayer, George Sherman, E. Frances Hyde J ames N. Wal- Taxes...................... $85,316 $92,696 $96,123 $90,951 lace, G~orge W. Ristine, Henry T. Rogers, Charles A. Otis and Charles lntereston bonds......... 923,030 923,030 923,030 923,030 Boettcher.-(V. 65, p. 823,924, 1071, 1113, 1219.) 51,327 60,809 92,572 96,765 Cnterest on car trusts..... 4,455 6,456 9,864 19,004 Oolurnbla & Greenville (S. C.)-SEE SOUTHERN RAILWAY Co. Other int ere t............ 26,804 25,646 25,765 exp. op. In lease,&c. on Co. Pa. to [nt. Columbus & Cincinnati ilU dland RR.-( See Map Balt. d Ohio.) Dividend on preferred ... (5) 100,000 (5) 100,000 (5) 100,<100(2½)50,000 -Owns from Columbus, 0., to Midland City, 0., 71 miles; trackage to ---Columbus, 11.g miles. In January, 1890, leased for 999 years to Central Balance, surplus ......... def. $9,537 _ $8,572 $262,9 39 $436,525 Ohio, by which assigned to Baltimore & Ohio. See V. 51, p. 718. The Baltimore & Ohio assumed the Central Ohio's guaranty of principal and -(V. 65, p. 151, 194, 235, 277, 411, 620, 924, 1113; V e, p. 133.) ! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IN-V ES1 0.RS' SUPPLEMENT.. 1 (VOL, LXVI. Subscribers will conf'er a great Cavor by giving Immediate notice of' any error discovered In these Tables. Bonds-Prlnol RAILROADS. INTEREST FOR DIVIDENDS. Miles Date Size, or Amount pa.I, When Due Par Outstanding Rate Per When Where Payable, and by Stocks-La.at of F or explanation of column headings, &o., see notes of Road. Bonds Value. Cent. Payable Whom. on fl.rat page of tables. Dividend. - ~ Hock. RR.-New reo'vrs otfs., $200,000 Receiver's certificates (old f'o.) outinJulci' 1896 lat mortgage (prior lien), $2,000,00<a gol ..... o* General mortga~e. $10,000,000, gol .......... o" lat M., scrip, for.July, '96, and Jan. , '97, coups . . Income bonds, non-cumulative, ~old ...... ... .... Zanesville Term'l Co. lat m. for$ 00,000, gold.o* Col. Ter. & Transf. mtge. $350,000 gu. C. 8. & H. Car trust notes, June 0, 1896 .................... Ootumbus ~ Xenia-Stock, 8 per cent rental ........ Ooncord ~ Olaremont (N. H.J-lRt mort a~t·····o Concord ~ Montreal-Stock, Class I. (B. . M. pf.) Stock, Class II (B. C. & M. new) .................... Stock, Class III. (B. C. & M. old stock) .. ..... ..... Stock, Class IV. (Concord) $6,000,000 auth. Text Bost. Con. & Mon. improvement mortga~e ...... o Conoord&Montrealoonsol.mort.for$5,5 0,000.o* Debenture bonds, $650,000, ourrency . .. ... .... o" Ooncord ~ Ports.-Stook, 'l p.o. rn'l, 99 yrs. Conc'd . . Oonf. & Oakl'd-lst M., g., $200,000; drn. at par .. Conn. ~ Passum.-Pref. stock, 6 p. o. rent'l,99 yrs.o" 1st mort. (White Riv .Juno. to Canada line) &old.o* Massawipji st'k, guar.same div. as Conn. Pass. Newport Richford lat mort. guar. by C. & P.o* Connecticut River-Stock ($2,670,000 authorized) .. SoriN, redeemable in ten years in cash or bonds .. Bon s, not m?rtgage, for $1,000,000, gold . . .... o Oonnecting (Phila.)-lst m., gu. p. &i. Pa. RR. en. o Oonnecting Terminal RR. (Bu:tfalo)-lst M ...... .. r Erie & West. Trans. 1st M. guar. drn. at 105 .. c* Ool. San. 6 Cornwall & Lebanon.-Stook ..... ... ...... .... .. .... New 1st mortgage for $800,000 .................. r .... 227 227 ---· 1897 1895 1895 1895 ---- is95 .. ·4 1890 .. .. 1893 ·55 ---71 is94 i66 262 iss1 ---.... ---· ·47 ---· .... ---· 1890 1897 ---· is90 iio 37 22 80 80 6·75 -··· 24 24 i893 iss1 i893 1893 1864 1883 1892 is9i ....... $i:ooo 1,000 ·---------- 1,000 1,000 ···50 ""ioo 100 100 100 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 &o. $200,000 6 J. & J . Columb's,O.,Reo'rs' Off. ByJulyl,1898 500,000 6 ..... 680,000 5 g. A. & 0. Apr.,'97,ooup.last paid. Oct: · ·i9oo 7,446,591 2½-4 g. J. & J. See text. Jan. 1, 1946 149,219 ···,i"· F...... ··i945· 1,150,171 & A. 453.000 5 g. J. & J. Jan. ,'97, coup. last paid. July 1, 1940 271,000 M.& S. Sept., 1897, coup. paid. 5 1943 680,128 Q."~M. Columbus, 0., Treasurer Dec~ "i," i897, 2 1,786,200 --·s2; 500,000 412 J. & J. Bost., Treasurer's office. Jan. 1, 191 4 800,000 Q.-J. 7 See text. Jan.l,'98,lll&O 540,400 Q.-J. do Jan.1,'98,1~ 7 459,600 Q.-J. do 7 J an.1,'98, 1 ~~ 5,397,400 Q.-J. do 7 Jan.l,'98,1~%0 500,000 J. & J. B'ston, Faneuil Hall B'k Jan. 1, 191 1 6 5,000,000 J. & D. Boston SafeD. & Tr.Co. June 1, 1920 4 650,000 4 J. & D. Bos. S.D. & Tr., Boston. June 1, 1920 350,000 Manchester, N. H. J. & J. 7 Jan., '98, 312% 120,000 5 g. M.&N. Nov., 1897, oouponpaid 1914 2,500,000 F. & A. Boston, 8. Dep. &Tr. Co. Feb., '98, so¾ 6 1,900,000 Apr. 1, 194'a 4 g. A. & 0. do do 400,000 Feb., '98, 30 F. &A. do do 6 350,000 do do .Tan. 1, 191 J. & J. 5 2,580,000 Boston, Mass. Jan. l,'98,5 % 10 J. & J. 1,290,000 4 J. & J. Boston, Second Nat.Bk. Jan. 1, 1903 Boston, Mass. Sept. 1, 1943 4 g. M.& S. 1,000,000 M.1s&S. Phila., Broad St. Stat'n 1900·'1-'2-'3-' 4 991,000 6 M. & N. Phila., 26 S. 15th St. May 1, 190 3 500,000 5 July 1, 1912 do do J. & J. 750,000 5 800,000 3 in 1897 F. & A. Co.'s off., Lebanon, Pa. Aug.1, '97, 10¾ do do Apr. 1, 192 l A.. & 0. 766,400 5 ··-------· i; ---------· ~ ' Cohunbus Sandusky & Hocking RK,-ROAD-Sandusky via '1 SECURITIES.-){assawlpp1 stock reoetves same dividends as stock of Columbus to Zanesville and southerly to Glouster, Shawnee and lessee, and $400,000 of it [not included iTt the amount outstanding 1 Shawnee Junction, with branches; total, 273 miles, of which 226 · is pledged as part security for 4s of 1893 [$1,900,000 authorized] miles are owned and 47 miles leased. Trackage to Toledo, 51 miles. which replaced $1,500,000 of 7s due April 1, 1893 . (V. 57, p. 1040.) HISTORY, ETC.-A reorganization Nov. 14, 1895 (per plan in V. 61, DIVIDENDS since 1880-In 1881, 5 per cent; in 1882 and 1883, 6; 1n 26) of the Col. Sand. & Hook. Ry., sold in foreclosure Oct. 19, 1895. 1884, 5¼; in 1885 to 1896, inclusive, 5 p. o. per annum; in 1897 and RECEIVERSHIP.-On ,Tune 1, 1897, Samuel M. Felton was appointed ~Ince, 6 p. o. per annum. See rental above. Average annu -11: net earn· receiver. v. 64, p. 134, 233, 1088. Issue of $200,000 of receiver's oer- mp:s years 1890 w 1892, $219,883. tifioates authorized in June, 1897; proceeds for terminal interest, etc. Connecticut River KK.-0wns from Springfield, Mass., Zanesville Te1•minal.-On Jan. 11, '98, Chase Andrews was a ppointed Keene, N. H., 74 miles (double tracked, 36 miles); branches, 6 miles. receiver of thi s road. V. 66 , p. 185 · LEASE.-Leased for 99 years from Jan. 1, 1893, to the Boston & REORGANIZATION COMMLTTEE.-A nlan will be submitted by the fol · Maine, annual rental (as amended Oct. 10, 1895) being 10 per cent per lowing committee: Chairman, Louis "Fitzgerald, - - - - - , L. C. annum on capital stock), payable directly to the stockholders in semiWeir, F. K. Sturgis and J. G. Deshler; Secretary, A. W. Krech, 1 2 0 annual instalments Jan. 1 and July 1, and in addition thereto mterest Broadway, New York.-V. 64, p. 423. Interest Paym ents-Zanesville on 4 per cent bonds and scrip and $2,000 for organization expenses. Terminal interest due July 1, and prior lien interest due Oct. 1, 1897, Lessee pays all taxes, operating expenses, etc., but lessor shall issue were not paid. its stock or bonds to meet the cost of permanent improvements. STOCK.-Common, $7,500,000 authorized; outstanding Dec., 1896 DIVIDENDS 1876 to 1892 inclusive 8 per cent per annum, and now $3,348,392; pref. 4 p. o., cum., $4,100,000; par, $100. under lease 10 per cent. In January, 1893, paid 12 per cent extra. BoNDS.-First mortgage bonds were to pay old oar trusts, $1,110,677; BONDS.-In 1893 $1,000,000 bonds were sold to pay floating debt; old :floating debt, $703,107; improvements and equipment, $180,000. total profit and loss deficit June 30, 1896, $300,463. (V. 61, p. 470.) Only $680,000 firsts have been sold. Of the general mortgage bonds (trustee, Metropolitan Trust Co.)Connecting Ky, (Phtladelphia).-0wns from Mantua Junction total issue $10,000,000-$2,544,000 to be placed in trust as follows: to Frankford Junction, Pa., 6·75 miles; total mileage inolud1ng 2d, 3d, $2,000,000 for redemption of prior lien bonds, $200,000 for real e tate 4th tracks and sidings, 47 miles. Leaeied to Philadelphia & Trenton for notes, $89,000 for coupon notes a,nd _$255,000 f?r surplus bonds to 999 years, and with that road operated by Pennsylvarua Railroad. cover discounts. The "generals" bear mterest durmg years 1896 and Rental pays interest, taxes and 6 per cent on $1,278.300 capital stock 1897 at 212 per cent, during 1898 and 1899 at 3 per cent and there· (par $50)-all of which is owned by Pennsylvania Railroad. Current after at 4 per cent. General mortgage coupons due .Tuly 1, 1896, and liabilities December 31, 1895, $1,259,572. January 1, 1897, were paid in first mortgage scrip in July 1896. On Connecting Tennlnal KR. (Buffalo ).-Owns a terminal road June 30, 1896, in addition to the securities given in the table above, one mile long in Buffalo,~- Y. Stock $20,000 (par $~00) controlled in there were also outstanding notes payable, $444,337. same interest as the Erie & Western Transportation whose bonds LATEST EARNINGS-7 mos. 51896-7 ... . Gross, $498,004; net, $120,324 (authorized issue $1,500,000) are guaranteed principal and interest July 1 to Jan. ::n. t 1895-6 .••• Gross, 595,534; net, 163,963 by endorsement. Other indebtedness June 30, 1895, $80,600. In year Jan. 1 to June 21 (534 mos.), gross, $348,874 in 1897; $342,909 in '96. 1894·95, gross, $140,793; net, $79,226; other income, $13,384; interest I ANNUAL REPORT.-Report for 1895·6 was in V. 63, p. 600 and 835. paid. $ 25 ,000; taxes, $8,6 22 ; dividend s <6 p. o.), $ 7 , 2 00. rr Years ending June 30- ..-Ill 1896. 1895!. Cornwall & Lebanon KK.-0wns Lebanon, Pa., to Conewago, ,, in $905 296 $828 l.:>6 22 miles; branches, 3 miles. Divi~ends, former~y 4 to 4~ p~r. cent r..:rross earn gs · · · · · · · · · · · · · · · · · · · · · · · · · · · · ' ' yearly, were in 1893 6 p. o.; also i_n 1892-93 paid a speou~l dividend Net earnings .. . .............. ~... ... . .•.... 208,431 149,857 of 13 p. o.; in 1894, Feb., 2 p. c.; rn 1895, Aug.• 2. p. c.; m 1896, 4 94 , 781 p. o.; in l89 , Feb., 2 p. o.; Aug. 1 p. o. In year ending June 30, 1896, 101 , 171 Taxes and rental .... •••·•···•·•• •··· ······ 7 1 Interest, partly paid in scrip.... . ... ...... 159,571 gross. $272,960; net, $143,978; mttirest, $40,000; taxes, $9,192; divi• 185 66 37 -(v. 64, P• 134,233,423, 663, l088, n ; V. , p. ·> dends (4 p. o.), $32,000; balance for year, $62,786. In year 1894-95, Coluinbus Southern Ry.-Consolidated with Georgia & Ala- gross, $215,804; net, $107,640. Car trust 6s, .July, '96, $110,000.-V. bama (which see) in January, 1897. (V. 63, p. 1115.) 6 4, p. 6io; v. 65, p. 571. Columbus & Xenia KK.-Owns from Columbus, 0,, to Xenia, 0., Cresson & Irvona KK.-0wns from Cresson, Pa., to Irvona, Pa., 55 miles. Operated as a division of the Little Miami, and is leased for 27 miles, and branch to Richland Mines, 2 miles. successor: to the 99 years from December, 1869,in connection with that road, to the.Pitts- Cresson & Clearfield County & New York Short Route RR., which was burg Cincinnati Chicago & St. Louis, whio~ pay~ 8 per cent on stock. bought in interest of Pennsylvania RR. at foreclosure sale early in The lease is guaranteed by the Pennsylvarua Railroad Company. The 1894. The road is operated by Penn. RR. for net ear:J?-ings. stock, Columbus & Xenia pays 82 5 per cent dividend (25 out of assets) per $ 500 ,000 ; par, $50. All owned by Penna. RR. Earnmgs for year annum, 21 5 per cent March 10 and September 10 and 2· per cent June ending Dec. 31 , 1896, gross, $56,757; net, $4,710. In 1895, gross, 10 and Dec. 10. $51,171; net, $5,735; interest, taxes, etc., $23,320. Concord & lUontreal KK.-Operates from Nashua, N. H., via. Cumberland & Ohio KK,-(SeeMap Louisville & Nashville.)Conoord, Plymouth, etc., to Groveton and the Wb?-te Mountai?-~, 450 Owns as follows :-Southern Division, Cumberland & Ohio Junction to miles in all (including Manchester & Keene, 30 miles, owned Jomtly, Greensburg, K;y., 31 mHes. The Southern Division was leased ~o 1!· & and 6 miles' operated for Lumber Co.) ; 414 miles leased to Boston & N. Sept. 1 9 1878, for 25 years, and the 7 8 of 1898 guaranteed prmoipal Maine; 35 miles double track. and intere~t. The Northern Division, Shelbyville to Bloom~eld, 27 LEASE.-On June 29, 1895, leased to Boston & Maine for 91 miles was sold in December, 1897, to Samuel Spencer, President of years at rental of 7 p. o. per annum on all stock. (V. 61, p. 2iT,.5I3.) Southern Ry. for $1,000, subject to the first mortgage of $250,000 In June, 1897, is~ued $650,000 debenture 4s to reimburs~ Boston & and receivers' certificates. V. 65, p. 1173. In year 1895,96 net earnMaine for money advanced on Manchester & Lawrence claim. ings of Southern Division, $11,4!:-3, against ~14,601 in 18~4-95; and of · REPORT.-Balanoe sheet of June 30, 1896, v. 63,p. 700. The earnings Northern Division, gross, were $22,843, agamst $38,280 m 1894-95.jl,re not now reported separately. For 1894-95 ~ross, $2,477,199; neli, -(V. 62, p. '1..77; V. 65, p. 327, 1071, 1173.) $762 896 • other income, $25,103; taxes paid, $111,958; rentals, Cumberland & Pennsylvania KK.-0wns from Cumberland, $77,704; 'interest, $234,025; dividends, $360,000; balance, surplm•, Md. to Piedmont, Md., and several branches, 57 miles. Owned and oper$4,312. (V. 63, p. 700; V. 64, p. 1181; V. 65, p. 26.) ated by Consolidation Coal Co., which guarantees by endorsement the Concord & Portsinouth KK.-0wns Portsmouth, N. H., to first mortgage. V. 52, p. 390. Stock, $1,500,000; par, $100. Manchester, N. H., 4012 miles, and branch 7 miles. Leased to Concord Cumberland ValleyKK.-OwnsfromHarrisburg,Pa.,toPotomao RR. in 1862 for 99 years. Lease, rental, $25,000; 7 per cent on stock. River Md., 82 miles (and with leased lines operates to Winchester, a Confluence & Oakland KR .-Owns road from Confluence, total ~tanoe of 116 miles). It leases-Cumberland Valley & MartinsPa to Yon"'h Manor, Md., 20 mile ; built in 1889. Leased to B. & o. burg Railroad, 34 miles; Dillsburg & Mechanicsburg Railroad, 9 miles; May 1, 1890, for 999 years, rental being interest on bonds. B. & O. Southern Pennsylvania Railroad, 21 miles; controls Mont Alto Railroad, also agrees to accept and cancel $-l0,000 of bonds per annum m pay- 18 miles; total operated, 165 miles. (V. 61, p. 152.) ment of freight on interchanged tr~ffi.c. Bonds Nos. 1 to 100 may t>~ STOCK.-Authorized, $2,000,000; outstanding, $1,;292,950 common, called in first fl ve years, balance m second 1i ve years . Trustee, ~i $241,900 first pref. and $243,000 second pref.; of this $975,800 com· nanoe co. of Pennsylvania, where Nov., 1897, coupons were paid monand $237,200 prererred are owned byPennsylvaniaRR. Co. Stock is $200,000. DIVIDENDS.-In 1880 to 1884, 10 per cent yearly; from 1885, to oonnectlcut & Passuinpslc Kivei-s KK.-0wns White R!ve:r; J anuary, 1898, both inclusive, at rate of 8 per cent yearly. Junction, Vt., to Canada Line, llOm.; leases for 999years Massawippt EARITTNGS.-11 months, t 1897 ....... Gross, $757,329; net, $243,009 Valley, 37 m. Jan. 1 to Nov. 30. 51896 ......• Gross, 756,002; net, 231,132 LEASE.-From January~. 1887, lease~ to the Boston REPORTfor1896wasinV.64,p.468. Earningsentirelineas.follows: Lowell for 99 years on a basis to pay Connecticut & Passumpsio stock . . d B l t t·n J anuary 1897 inclusive and 6 per cent thereafter Year. Gross Net Int, etc. Dividen s. a ·• surp . perstf89 dividend being 3' per cent. 'rn October, 1887, the Bosto~ 1896 .....•. $862.395 $226,767 $42,843 (8 p.o.)$142,228 $41,M6 &u-E;, oa;rying this road was leased to Boston & Ma1ne. Stock 1895 ....... 889,157 239,597 451 138 (8 p.o,) 142,228 52,231 a,uth:rized, $3,000,000; outstanding, as in table. -V. 61, p. 15?; V. 62, p. fi46; V. 64, p. 461', &I i ell J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, RAILROAD Hn}8.J 49 STOCKS AN U .BON DB. Subscribers will conf'er a great f'avor by giving IDl.lllediate notice of' any_ error discovered In these Tables. Bonds-Prinot RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Due Amount Rate Per When Where Payable, and by pal,When of Par Outstanding of F o:r explanation of column headings, &c., see note Stocks-L&et • Road. Bonds Value. on first page of tables. Cent. Payable Whom. Dividend. - --- - - - -0umberl'dtl Ohio-So.Div.lstM., p.&i. gu.by L.& N. Oumberland ti Penn~tvania- 1st mort. gold, guar. Oumberland Valley- tock ($484,900 is preferred). ·57 isoi J) allas Perml. Ry. ti Un-ion Dep.-M. $500,000, g.c" J)anbury ti Norwalk-See NEW YORK NEW HAVEN 1895 &..HA RTFOR 1st and 2d ms., gold (2d$109,500due A.pr, 1908.) Dayton ti Mich.-Com. st'k (3lgp.o. guar.C.H.&D.) .. Preferred (8 p. o. gnar. C. H. & D.) endorsed...... 1st mort~age, guar. p. & 1. end by C.H. & D .... e Dayton ti nion-lstmort., sink. fund (notdrawn)c Income mortgage bonds, slnking fund ........... r g:fdZ,1:i:!~t~L:. ~~~:.~: ~ ~~.~? .~?::~ General mortgage, ser. A, for $2,000,000, gold.o" 8 .~ ~:: ... Det. ti Bound Br.-Stook-8 p. o. gu. Phila. & Read. 1st mortgage ....................................... 1st mort. on Trenton Br., 2d mort. on main line. J)elaware ti Ohesapeake-1st M., f.lar. p. & i., our.o ·s2 is5s --·· isrri ii2 1881 32 32 37 117 117 1879 1879 1864 iso2 ·27 is15 4 54 1879 1882 Delaware ti Hudson Oanal-Stoc ..........••....... ·--· is17 .... Delaware Lackawanna ti Western-Stock ........... Con. M. now 1st M.on roaa &equip ($10,000,000)c Detaware Maryland ti Virginia-Stock .. .••..••..••. i95 is17 1st mort. on Pennsylvania Div. ($10,000,000)c&r Bluff Point Land Improve. Co. 1st M.,gold,guar.o* Junction & B.-lst m. to State, red. aft. Jan. '95 .. Junction & Breakwater 2d mortg~e. . .......... o* Break. & Frank.1st m. to State, r . aft. Jan.'95. Worcester RR.1st. M. (matured Apr. fi96) gold.o* D etawa1·e <f: New England-Trustcert· oates ...... ---· ·« 44 19 35 100 1890 is6o 1879 1874 1876 ··--· i:c>oo 50 500 &c. 1,000 I ---- --- $300,000 M.& 8. 7 1,000,000 5 g. M.&N. 1,777,850 Sin 1897 Q.-J. 270,500 8 g. A. & 0. 80,000 6 g. J. & J. N.Y., L.&N., 120B'way Guar. Trust Co .. of N. Y. Phila. & Chambersburg. do do St.Louis, St. Lou.Tr.Co. D, 2,403,243 50 319 50 1,211,250 8 1,000 2,728,000 5 1,000 225,000 7 1,or,o 5,000 6 495,000 6&7 1,o~g 2,687,325 See text. 1,000 500,000 4slgg. 100 1,800,000 1,000 1,500,000 7 1,000 300,000 6 1,000 400,000 4 100 35,000,000 5in1897 1,000&c 5,000,000 7 1,000 300,000 4 ~-7 50 26,200,000 7in18 1,000 3,067,000 7 25 526,758 185,000 250,000 4 200,000 3 500.. 400,000 4 g. ....... 7,750,400 .... i:ooo &o. ··s· Sept1 2, 1898 May 1, 1921 Jan. 1, '98, 2% A~r. 1,1904-8 uly 1, 1925 A. & 0. Cincinnati. Oct. 1, '97, 1~ Q.-J. do Jan. 4, '98, 2% J. & J . N.Y.,Kessler&Co., Cln. Jan. 1, 1911 J. & D. N.Y.,Am. Exoh.Nat.Bk. Dec. 1, 1909 J. & D. After 1910 ········-· of America. Jan. 1, 1905 J & J. N. Y., Bank Checks malled. J. & J. Jan. 3, '98, 396 J. & J. do July 1, 1932 Q.-F. Phila., 240 So. Third St. Nov.20i97,2% F. &A. Phila., Guar.T.&8.D.Co. Aug. , 1905 M.&N. Phila., Of., 240 So.3d St. May 1 1899 F. & A. Phlla.,Broad St.Station Feb. 1, 1912 i-Moh. N. Y.Of.,21 Cortlandt St. Dec. 15,'97,114 do do . & 8. Sept. I, 1917 J. & J. do do Jan. 1, 1940 Q.-J. N. Y., 26 Exchange Pl. Jan. 20,'98,l~ 1\1. & 8. do do Sept. 1, 190'1 J. F. J. A. & & & & J. Philad:road StJ;atlon Jan:·1,-·fa32 A. Feb., 1899 do J. do Jan. 1, 1932 0. do do Overdue. ..... ······-··· . -... --· Dallas Terlllinal Ky._& Unto 11, Depot.-Terminal proper:'ty j ANNUAL REPORT.-Fiscal yea.rends Dec. 31. Annual meeting is held .:at Dallas, Texas, and 5 miles road rn Dallas. Proposes to build on the second T u ~ in May. Report for 1896 was in CHRONICLE, to Fort Worth, 31 miles. Began operating Sept. 25, 1896. Stock· V. 64, p. 370. See also editorials p. 213 and 349. Coal (anthracite) :authorized, $500,000 (par $100); paid in, $38,700. The St. Louis Trust carried in 1896, 5,835,621 tons; in 1895, 6,151,147; in 1894, 5,751,· Co. is the mortgage trustee. President is W. G. Connor. 386; in 1893, 6,177,659. · Dayton & lUlchigan R M.-(Se e Map Oincimiati Hamilton ti D.) Year ending Dec. :n. 1896. 1895. 1894. 1893. -Owns Dayton, O., to Toledo Juno. , O., 141 miles, and leases Desh• Rece_tpts from coal. $7,778,225 $7,369,379 $7,864,154 $9,939,648 ler to Findlay, 11 miles. Trackage (Lake Shore) into Toledo, 114 miles. Railroads......... 10,201,634 10,.1 29,082 9,448,993 10,212,412 LEASE.-Leaeed May 1, 1863, in perpetuity to Cincinnati Hamilton & Miscellalleous. .. . 566,584 1,321,157 755,074 520,258 Dayton. Rental is the interest and sinking fund of debt, and 8 per Total.. .......... $18,546,443 $18,819,618 $18,068,221 $20,672 318 cent on preferred stock and 312 per cent on common. Net............. . $4,852,644 $5,442,885 $5,538,673 $6,622:18 7 SECURITIES.-Guaranty on preferred is secured by mortgage of 1871, Int.,taxes & rentals. 3,087,631 3,078,492 3,319,960 3,407,637 but 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. Balance for stock. $1,765,013 $2,364,393 $2,218,713 $3,214,550 EARNINGS.-Gross earnin~s in year ending June 30, 1895 (including Dividends, 7 per ct. $2,450,000 $2,450,000 $2,187,500 $2,100,000 Troy & Piqua branch, 8 miles), were $1,877,695; net, $666,591; in- -(V. 65, P- 194; V. 66, p. 81.) terest, $136,400; dividends, $180,788; bal., surp1us, $349,403. In Delaware Lackawanna & Western KK.-R0AD- Operat,es 1893-94, gross, $1,594,166. Current liabilities July 1, 1894, $952,453. main line from Hoboken, N. J., opposite N. Y. City, to Buffalo, N. Y., Dayton Northern Ry.-Incorporated in Dec., 1896, and pro· 409 miles, with branches to coal region, etc., 492 miles, including: ,Jeoted from Franklin (near Dayton, 0.) to Lima. To connect at Lines ownedMiles. Lines leased-1T See eaolloo. Mite•. Franklin wiih "Big Four" and Cin. Jack. & Mackinaw and ut Lima N. J. State line to N. Y. line .... 115 ,rsyracuse Bing. & N. Y ......... 81 with Lima Northern. Capital stock $10,000,000. Incorporators are Br'ncbes to N'rthumberl'nd,&o. 80 ,rutioa Chenango & Susq .....•• 105 .James B. Townsend, W. B. Ritchie, C. M. Haskell, Edward R. Thomas, Lines leased1TValley RR. of N. Y .•••. ·-···-· 12 W. C. Brown and J. K. Megrue. 1TMorris & Essex and branches.157 1TWarren.. .•. . .• . .. . .... .• ...• •• 18 Dayton & Union KR.-Owns from Dodson, o., to Union City, 1fN.Y.Lackawanna &Western.214 Sussex, &o .....• ··············-· 50 Ind.. &2 miles; leases Dayton to Dodsdon, 15 miles; total operated, 47 1TCayuga & Susquehanna ....•• 34 miles. Operated by Cleveland Cinn. Chicago & St. Louis, which,jointly 1TOswego & Syracuse .....•..... 35 Total operated ......••....•• 901 with the Cincinnati Hamilton & Dayton, owns the capital stock. HISTORY, ETc.-This is one of the most important of the anthracite Trustee of 1st mortgage (in June, 1896,) Central Trust & 8. D. Co. of coal roads. No sub•oompanies (coal and minlng) are controlled. the rail• -Oinoinnati. All t1urplus earnings over interest goes to a sinking fund road owning its mines. Original company chartered in 1849 ; present, for the redemption of bonds at not above 100. Capital stock, $86,300. title assumed in 1853. Its leased lines are mostly held under long For year ending Oct. 31, 1896, gross, $135,211; net, $44,596; chargAs, leases, and the system ls compact. In 1894 representatives of the $19,794; balance, surplus, $24,802. In 189-i-5 gross, $148,813. Vanderbilts entered the directory. See V. 57, p. 721. Dayton & Western RR.-Owns from Dayton, 0., to State line, DIVIDENDS5188 l '82·'84 '85 '86 to Jan., '98 .Ind., '&7 miles, and leases 4 miles to Richmond, Ind. LeaRed from Jan. 1 Since 1880, p. c. { 6~ 8 yearly 7¾ 7 yearly. 1865 for 99 years, renewable forever, to Little Miami, and so operated GENERAL FINANCES.-On Jan. 1, 1897, cash on hand, $1,156,587; by P 1ttsb. Cin. Chio. & St. Louis. Under tt>rms of the lease, upon pay- coal on hand, $2,409,923; advances to leased roads, $995,534; aoment of the D. & w. bonds the Little Miami will become sole owner counts receivable, $3,604,932; total, $8,166,976; accounts payable, -of the D. & W. Of bonds $32,000 are 7s. No stock. $9,635,883, of which $3,287,680 was paid in January.-V. 64, p. 231. Delaware RR.-Owns from Delaware Junction (Phila.Wilm. & Bal• EARNINGB.-The leased tines in New York State for fiscal year ending timore), Del., to Delmar (Maryland line), 95 miles; branches, 22 miles, June 30, 1897: Gross, $7,625,190; net, $3,675,920; balance, surplus, Leased till May 13, 1927, to the Philadelphia Wilmington & Balt., 1 t t dt $1 147 485 I 1895 96 t $4 710 821 which owns $1,364,675 of the stock. Lease of 1889 expired in 1897, over n eres an axes, • • · n · , ne , , , • when new lease for 30 years was made, rental being net earnings-see ANNUAL REPORT.-Flscal year ends Dec. 31. Annual meeting is held v. 64, p. 1000. Under the old lease 6 per cent was guaranteed on the on the Tuesday preceding the last Friday in February. The report for ·stock; dividends will hereafter be dependent on earninga. In year 1896, with balance sheet, was tn CHRONICLE, V. 64, p, 231. The fol• ending October 31, 18~7, gross, $1,087,466; net, $32L,162; other lowin1dncludesalllinesexceptSyr. Bingh'ton&N. Y. ana Sussex RR.: income, $12,873; interest and taxes, $52,139; dividends, $161,240; Year end. Dec. :n. 1896. 1895. 1894. 1893. ,balance, surplus for ..,,-ear. $120,656. In 1895·6, gross, $1,296,359; Passenger earnings $3,406,492 $3,486,691 $3,550,504 $3,820,908 111et, $466,209.-V. 'Y,, p. 1000. Freight earnings ... 15,349,104 16,048,893 15,526,193 17,363,117 Delaware & Bound Brook KK.-Owns :from Bound Brook Miscellaneous...... 2,647,909 2,738,686 2,735,744 2,983,250 (Central ot N. J.) to Delaware River, 27 miles; branch to Trenton, 3; --- -- - - -second tr!1ck 27 miles; all track 73 miles. In May, 1879, leased for 990 $21,403,505 $22,274,270 $21,812,441 $24,167,275 years to Philadelphia & Reading RR. for $275,000, payin g interest and Coal receipts, etc... 22,896,382 21,927,639 21,246,421 24,623,698 8 per cent on stock; lease assumed by Phila. & Reading Railway. ----- - - -Delaware & Chesapeake Ry.-Clayton, Del., to Oxford, Md., 54 fotal grossreoeipts.$44,299,887 $44,201,909 $43,058,862 $48,790,973 miles. Phila. Wilm. & Balto. owns all the stock ($ 600 ,000 ), and oper- RR. over. ex. & tax. 14,069,136 13,834,420 14,645,398 16,479,729 ates the line, guaranteeing the bonds principal and interest. Earnings Mining, &c., expen. 2a,499,772 23,606,589 21,363,797 24,057,843 t or year ending Oct. 31, 1897, gross, $96,881; net, $10,843; interest N t el t 6 730 1 979 6 760 900 7 049 667 8 253 401 and taxes, $21,109; bal., deficit, for year, 10,~66. In 1895·96, gross, Cnter:at1:i.~dfe:tais~ 5' 406 239 5'406'239 5'412'323 5'360'490 $119,363; net, $28,774; interest and taxes, $20,230. ' ' ' ' ' ' ' ' Dividends (7 p. o)... 1,834,000 1,834,000 1,834,000 1,834,000 Delaware & Hudson Canal C().-(See Map.J-Owns canal from Rondout, N. Y ., to Honesdale,. Pa., 108 miles (completed in 1828), and t:lala.noe after divs .. def.$509,260 df.$479,339 df.$196,656 sr.$1,058,911 operates railroad lines extena.ing from Wilkesbarre, Pa., via Albany, -(V. 63, p. 268,879; V. 64, p. 181,231,423,952; V. 65, p. 277, 976.) N. Y., to Rouse's Point, 011 Canada line, with branches, 685 miles in Delaware Maryland & VlrglnlaKR.-Owns from Harrmgton all. The system is well shown on the adjoining map, and includes: to Rehoboth, Del., 44 miles; Georgetown to Franklin City, Va., 54 miles; Lines ownedMites. Linesleased-,r Seethesecos. Mite&. total, 98 miles. Controlled by Philadelphia Wilmington & Baltimore, Lackawanna & Susquehanna .. 22 11.A.lbany & Susquehanna ....... 142 which owns $326,200 of stock, and so by Pennsylvania Railroad. See Valley RR. of Pa ............... 17 ,rNew York & Canada .........• 150 v. 50, p. 498. Loans and bills payable, Oct. 31, 1896, $415,233; other Gravity RR ....•... ... •····· .... 56 1TRensselaer & Saratoga ........ 192 :floating debt, $192,066. In year ending Oct. 31, 1897, gross, $208,019; Schenectady & Mechanicville. 10 1TUnion RR..••·••••••·••········ 22 net, ,i;l~,849; int. on bonds, $37,550; int. on equipment, $-i,755; taxes, f. Cherry Val. Sharon & Albany 21 1T Jefferson RR. (trackage) ...... 35 $3,058; bal., deficit for year, $26,514, but this does not include interest ,rschenectady& Duanesburg .. 14 Other lines .......••............. 4 on the floating debt of $607,299. In 1895-6, gross, $230,927; net, $39,634; aelicit under charges for year, $5,280. Total operated .................•••.....................•••.•••••.... 685 Oelaware River KR. & Bridge Co.-0 wns a bridge over the Also leases Utica Clinton & Bin~hamton and Rome.& Clinton RR., Delaware River near Philadelphia and abou~ 10 miles of connecting 44 miles, sub-let to New York Ontario & Western. railroad. Capital stock ($1,300,000) is all owned by the Pennsylvania HISTORY, ETC.-This company was chartered April 7, 1823. It 18 RR., which guarantees the bonds, principal and interest, by endorse• ment on each. Sinking fund is one per cent, but bonds cannot be one of the largest miners and carriers of anthracite coal. DIVIDENDS ..... 5'81. '82. '83. '84, '85. '86. '87. '88. '89to '96. '97. called. See description of bonds and guaranty in V. 63, p. 1062,1 INDEX.-V. 63, p. 153, 1011, 1062, 1159. Since'80, p. c ...... { 412 7 7 7 6 5 5 6 7 yearly. 5 Dividends for 1898 fixed at 5 p. c., payable quarterly.-(V. 66, p. 81.) Delaware Susquehanna & Schuylkill RK.-Owns main line BONDS.-Adirondack Railroad bonds carry the endorsed guaranty from Drifton, Pa., to Gowen, Pa., 31 miles; branches, 17 miles; total of the D. & H. as to principal and interest. Boe that company. In 1896 owned, 48 miles. Trackage-Lehigh Valley RR., etc., 133 miles. $1,000,000 N. Y. & Canada debentures were issued and guaranteed- Opened Feb. 15, 1892. The road is controlled by Coxe Brothers & Co., see that campany. On Dec. 31, 1896, loans pay.able were $1,300,000. the coal miners. DIVIDENDS Oct. 18, 1892, 40 p. c. in cash; Nov. 25, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. MAP OF THE DELAWARE & HUDSON .OANAL COMPANY'S https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD & CANAL SYSTEM. !VOL. lXVl, JAi: UARY, RAILROAD 1898,j STOCKS AND :n BONDS Bonds-Prtn<:1INTEREST OR DIVIlDENDB. RA.ILROADB. Miles Date Size, or pal, When Due. A.mount of Par Outstanding For explanation of column headings, &o., see notes of Rate Per When Where Payable, and by Stocks-La.st Road. Bonda Value. Cent. Payable Whom. on first page of tables. Dividend. --- Delaware River RR. cf: Bridge- 1st M., $1,300,000, gold, guar. p.&1.,Penn. RR .c' cf; S. RR.-Stock (auth. $1,500,000) -18 1st mortgage bonds ($1,500,000) gold... . ..... o* Denison cf: North. Ry.-Rec'ver'scert.,$11,000p.m. .... Denver LeadviUe <t Gunnison-lat M., gold ... o*,.u .... Denver cf; Rio Grande-Stock, com., ($45,500,000) . .... Pref. stock, 5 ter cent non•oum. ($28,000,000) ... 1st mort. $1,0 O gold or £206 sinking fund .. o*&r 295 1st oonsol. mortgage (for $42,000,000) ~old.o~&r 1,621 Im_£rovement Mort. ($5,000 per mile) go d . . . o*&r 1,621 Des oines cf; Fort Dodge-C0mmon stock ........... Preferred stock, 7 p . c. non-cum................. . . lstM. Des M. to Ft. Dodge, Series A,int.guar.,eDd. Do. Series B, income, int. guaranteed, end.. 56 1st mort. on exten .• Tara to Ruthven, int. guar .. Du Moines if Kansas Oily-Stock, $10,000,000 .... 112 112 1st M. funding and~· ($2,000,000), iold.. c*&r DesMoinesNorther•ncf; .-lstM. $5,415, 00,gold.o 150 Du Moines Union-Stock, $2,000,000 ........•..... --- · 3·7 1st M. for $800,000, gold ........... . ......... C . o-Detroit Bay 0~ cf .A.lp.-Bee DETROIT & MACKI NAC. Detroit Grand aven <I: Mil.-lst equip. M. gu .... o* 189 Consol. mort., guar. by Gr. Trunk of Can....... o* 189 65 Detroit Hillsdale cf; s. w.-St'k,4 p. o. rent'l,L.S. &MB. Delaware Susq. }~s·1 Detroit Grand Rapids cf; Western- Common stock ................................ . •••• Preferred stock, 5 per cent ........ . .. . ............ Ionia & Lansin~ 1st mort., ext. in 1889, guar . . c* 1st oon sol. mo ., $6,000,000, lawful IDl ney ... c* 1896 $1,000 50 1,000 1896 --·--· $1,300,000 4 g. F. & A. Philadelphia. Pa. 1,500,000 Bee text. Seetext. Drifton, Pa. 600,000 6 g. A. & 0. Philadel., Co.'s Office. 35,000 6 Denison. 2,308,000 412g. M:ix:N. .......... . ... 38,000,000 100 23,650,000 2 iii·•i:n. J_..&.J. Office, 47 Wm. St., N. Y. is1i 500 &o. 6,382,500 7 g. M.& N. N. Y.,FourthNat.Bank. 1886 500 &o. 28,650,000 4 g. J. & J. do do 500 8,103,500 1888 5 g. J. & D. do do 100 4,283,000 100 763,500 6 in;in. August. Chica§o, C.R. I. & Pao. i874 1,000 1,200,000 4 J. & J. N.Y., hic.R.I.&Pao.Co. 1874 1,000 1,200,000 2¼ J. & J. do do 1,000 672,000 1881 do 4 J. & J. do 100 800,000 i892 1,000 2,000,000 ..5.g. J. ..&.J. 1,000 2,902,000 1895 4 g. J. & J. N.Y.,Metropol'n Tr. Co. 100 400,000 ...5.g. M:·&: ·N. N. Y., l,000 1887 6!t8,000 ·Trust. 1894 --·- ---- ---------- ---· ·centrai 1,000 1878 1878 200 &o. 100 ---· .... ---· ---· 55 350 .. ioo i869 . ...... ....... 1,000 1897 500 &c. 2,000,000 3,200,000 1,350,000 6 6 4 2,510,000 3,183,440 770,000 3,913,168 ----·· ···5·· 4 Aug. 1, 1936 Bept,26,1894 Apr. 1, 1909 Nov:·i·,--i918 Jan:i5/981% Nov. 1, 1900 Jan. 1, 1936 June 1, 1928 Aug:2;'97,6% Jan. 1, 1905 Jan. 1, 1905 Jan. 1, 1905 Jaii.:·1,..i932 Jan. 1, 1915 No,;:1,..i917 A. & 0. { N.Y.Af oyBk. Com.,} Nov.14,1918 A. & 0. Cana a & London. Nov.15, 1918 J. & J. N. Y.,Fa.rm. L. &Tr. Co. Jan. 5, '98, 2% ·---- --- J. & J. A. & 0. ······---- ··- ····· See text. Juiy · ·i899 Apr. 1, 1946 ------·--· 1; I Iisafter ent1tleq_ to 7 p. c. non-cumulative dividends, then common to 7 p. o., w hich both sh ar e equally: DIVIDENDS.-On pref_erred in 1893, 1893, 20 p. c. in cash and 50 p. c. in stock; Sept. 26, 1894, 262s p ..c. in a guarantee of 4 per c~nt interest on the tlrst mortga,rfl and extension cash. None since. Mortgage trustee Trust Co. of North Am. Ph1la. bonds, and 2:lg per cent per annum on the incomes. Preferred stock EARNINGS.-Fisoal year ends June 30. In year 1896•97 gross, $1,045,202; net, $186,376; charges, $40,908; ba l ., surplus, $145,468. I n 1895-6 gro $1 218,452; net , $194,002. ' ' ' . Denver Leadville&: Gunn.Hon Ky.-Anarr~w•gl!-ugeroa-df!om Denver to Leadville, Col., 151 miles ; Como to Baldwm Mme, 131 miles: branches , 43 miles; total, $325 miles. The bonds were d_eposited to secure $2,030,000 Union Pacific 412 per cents of 1889, which are rep• resented by the following committee: Henry Budge, 26 Broad St., N. Y.; Charles A . P@abody, Jr., and Henry De Coppet; all but $58,000 of the 412s have been deuosited with thts committee. Receiver is Frank Trumbull, appointed in August, 1894. A_n order of sale was a pplied f or in Dec., 1895, but temporarily refused m Jan., 1896, pend• tng settlement of Union Paoifl.~cross·bills, etc. In year 1895-96, gross, $737,871; net, $10!!,345, a gamst $51,010 in 1894·95; other income $2,955: t otal deductions, $70,277; bal., sur., $42,023.-(V. 62,p. 139.\ Denver&: Kio Grande KR.-( See Map)-ROAD-The lines of this company, well shown .on the adioining ma.p, reach all the iJ?.portant points in C?lorado.z "!7"hile its standard ga~gelinefrom~env~rVIaPueblo westerly, VIa Leaaville and Grand Juncti_on, forms a lrn_k ~ the transContinental route to Ogden, S~lt Lake City, &o., inoludmg • . ~ug., 2.P· c.; 1894, Aug., 4 p. c.; m 1895, Aug., _4 p. o.; m 1896, Aug., 6 p. c.; m 1897, Aug., 6 p . c. Rental for year end1ng Dec. 31 1896 was $153 t:i80·for 1895was,t;144 523-V 64 p 1181 ' ' ' ' ' · · ' · .· . Des Moines&: Kan~as City Ry.-Des Mome~, Ia., via Van Wert, to Cainsville, Mo., 112 miles, s tanda rd gauge. Entire stock and bonds purchased in December, 1~95, by the Keokuk & Western. V. 62, p. 680. ~assa_chusetts Safe Deposit Co., trustee of mortgage; th~ authorized issue 1s $8,000 per mile on narrow gau,re, $16,00U per mile on broad gauge road. To Dec. 31, 1896, the K. & W. had advanced $880,000 on the D. M. & K. C.-See K. & W. report, V. 64, p. 1087. L A.TEST EARNINGs.-10 mos. 11897..•.... Gross, $134,668; net, $15,615 Jan. 1 to Oct. 31. 51896....... Gross, 96,643; net, 29,332 EA.RNINGS.-For year ending Dec. 31, 1896, gross, $118,575; net, $13,567. In l8ij5 gross, $98,202; net, $24,207.-V. 05, p. 924. Des Moines Northern&: Wes tern KK.-Owns from Des Moines to Fonda, Iowa., 115 miles, and from Clive (7 miles from Des Moines) to Boone, 35 miles; total, 150 miles-all standard. In August, 1894, a o~ntrolling interest was acquired by Chicago Mil. & St. Paul, which Miles. Miles. will operate the roa,d separately. V. 59, p. 2i8. Successor of Railway Road owned and operated . .. 1,586 Of the preceding: sold in foreclosure Dec. 18, 1894. Capital stock authorized, $0,000,000; Rio Gr. Jc. RR.,et.-i. tleased). 62 Standard gauge .............. 682 outstanding, $4,372,500; par $100. Tnefirstmortga,!!.'etrustee,Metro• Leased t o Rio Grande West.. 18 ((Of which 296 is 3d rail.) politan Tr. Co., N. Y. Car trusts Dec. :n, 1896, $10,871. - - Narrow gauge _o~y ...••••.... 984 EA.RNINGB-11 mos., l 1897 ............ Gross, $393,151; net, $77,855 Total June 30, 1896 ........ 1,666 2d track and s1drngs. • • •· •·· · 357 Jan. 1 to Nov. 30 51896.... Gross 409 592 · net 126 470 The U. P. Denv er & Gulf uses Denver & Rio G. tracks from Walsen• · · ···· · · · ' ' ' ' ' burg to Pueblo 57 m., at a rental of $85,000 per annum.-V. 61,p. 421. For yea~ ending Dec. 31, 1896, ~oss. $442,255; net, $134,510; taxes, ' . . $13,046; mterest on bonds, $116,412; bal., surplus for year, $5,052. HISTORY.-Reorgaruzation o! a railway company of same name forePresident F. M. Hubbell Des Moines Ia (V 59 p 1103 ) closed July 12, 1886. The Rio Grande Junction is leased jointly by I ' ' ' · .· ' · . · this company and the Colorado Midland, and its bonds guaranteed. In pes M.olnes Union Ky .-A terminal road rn D(?B Mornes; ow~s 5 July, 1895, the Rio Grande & Santa. Fe (formerly Santa Fe southern), miles mam trao~ and °J?ranches, 9·7 miles 2d and side trac~s, bridge 39milesroad, was acquiredininterestofDen. &Rio G.-V. 63,p. 403. across Des Mornes River and 25 acres or land in Des Momes. See D t , } statemetJt to N. Y. Stock Exchange V. 65, p. 1173. Leased to Wabash 1897 1898 RR., Chicago Great Western and Des Momes N. & W. Rental equal to IVIDENDS s nee 90 1891 1892 1893 1894 1895 1896 () on pref., per. cent...... 212 O 2 0 O ..., 2 Jan.,l 0% expenses and fixed charges paid monthly by lessees on wheelage basis. BoNDs.-Coupons of the first mortgage sevens are payable at option ot Bills payable June 30, 1897, $46,425. Earnings for year ending June holder either in N. Y. City $35 U.S. gold,in London, £7 4s. 5d. sterling, 30, 1897, gross, $147,172; net. $44,993; interest and taxes, $34,710; or in Amsterdam 86 florins, all free of U. 8. taxes. Of the first con• bal., surplus for year, $10,283. In 1~95-96, gross, $129,855; net, solidated gold bonds (United States Trust Co., trustee) $6,382,500 were $28,903. V. 65, p. 1023, 11 '73. reserved to retdre the fi?'St sevens when. due,.and ~hey can be issued at Detroit Bay City&: A.lpen;...-see DETROIT & MACKINAC. such rates of interest up to 7 p. o. as will retue said bonds. Upon pay· ment of the first 7s the first consols will be a first lien on all the prop• Detroit Grand Ha.v en &: .llillwankee Ky~-Owns from De• erty, as they are now on about 1,300 miles of road and all the equip• tro1t to Grand Rav.en,. Mich., 1~9 miles. A reorgamzation of Beptem• ment. Con sols for $6,900,000 are also reserved for extension to Ogden, ber, 1878. The prm01pal and mtere:1t on the bonds are~guaranteed by ti deemed advisable. Those unissued may be used with the consent of the Grand Trunk of Canada. Stock, $1,500,000; par, $00._ R~al estate a majority of the preferred stock for extensions ali not exceeding mortgages, ll?226,000. On Jan, 1, 1897, sundry outstandrng aocounr.s, $20,000 per mile. See abstract of mortgage in CHRONICLE, V.47, p. 228. $512,678; bills receivable, etc., $147,736. Grand Trtmk of Canada The imprm.,ement mortgage (U. S. Trust Co., trustee), is issued on the owned June 30, 1897, £5,753 equip. bonds, £66,678 console and the property covered by the consolidated mortgage, and so eovers all the $1,500,000 stock. company's proper~y, following immediately after the consolidated. EARNINGS.-11 mos. l 1897 .............. Gross, $938,921; net, 234,230 Mortgage abstract m CHRONICLE, V. 47, p. 229. Jan. 1 to Nov. 30. 51896 .............. Gross, 875,213; net, 99,167 GENERAL FIN.ANCES.-On June 30, 1897, the company held in its For year ending Dec. 31, 1896, gross earnings were $964,357; net, treasury stoc,ks and bonds valued at $1,920,042. The "special renewal $93,744; detlcit under interest, etc., $277,266-advanced by Grand fu.Dd" held $439,466 Denver & Rio Grande in 1895 advanced Rio Trunk Ry. In 1895, gross, $1,001,091; net, $101,6!8. Grande Southern $169,839 in _cash and end?r~ed $57:i,498 notes giv~n Detroit Grand Rapids &: Western K R..-Detroit westerly for Rio Grande Southern floating debt, rece1vmg therefor $671,000. Rio to Grand Rapids northerly to Big Rapids eto including• Grande Southern firsts, one-half of the stock, and all surplus earmngR ' ' ·• · over fixed charges, taxes, etc., for three years from Jan. 1, 1895. Road ownedMiles. Operated under teaseMiles. E 5 }189 G t $l 51 :::i 320 W. Detroitto Gr. Rapids ... 147 Det. to Delrey (Det.Term.).... . ... 5 7 · ross, $ 3 , 71 4 , 549 :. ne, L .A.TEST ARNINGS.- mos., , ·, Gr. Ledge to Howard City. 64 Delrey to Redford(F. &P. M. RR.) 8 July 1 to Nov. 30. 1896.~ross, 3,201,894, net, ~,320,591 Kidd ville to Belding....... 2 Lansing to N. Lan. (J. L. & s. RR.). 1 ANNUAL REPORT.-Annual meeting IR held at Denver the third Tues- Stanton Jcr. to Big Rapids. 63 Paines to Sagmaw (J. L. & s. RR. dar, in October. Full report for 1896·97 in V. 65, p. 364, 371. See also Mecosta Jot. to Barryton . . 11 and F. & P. M. RR.).............. 7 editorial, p. 350. Construction account was closed in September, 1891, Remus to Weidman ......... 131 Trackagesince when all improvements have been charged against income. Rodney to Ohippew!1········ ~ Gr. Rapids to f?parta (C. & W. M.) 16 Year ending Jiine 301897. 1896. 1895. 1894. Howard City to Pam es .... 7;:, Sparta to Sheridan (T. S. & M.) ..• 34 Average miles operated.. 1,666 1,663 1,657 1,654 $ $ $ $ Total owned ...........• 380 Total operated Jan. 1, 1897 .. .451 Gross earnings........... 6,945,115 7,551,187 6,916,840 6,476,044 ORGANIZATION.-SuccessorJan. 1, 1897, of the Detroit Lansing & Net earnings............. 2,869,779 3,202,406 2,925,628 2,503,493 Northern and allied lines plan in V. 62, p. 319 and V. 64, p. 649. Other income .. •······•·· ~ 6 8 3 57,334 _ 14,600 l0,300 BONDS.-The first consolidated mortgage is for $6,000,000; bonds are reserved to retire, by exchange or otherwise, the underlying Ionia & Total net income......... 2,921,462 3,259,740 2,940,228 2,513,793 Lansing tlrs t 5s, $770,000, and $1,317,082 for Detroit terminals and Interest on bonds........ 1,997,950 1,997,950 1,997,950 1,993,873 other property. Trustee, Old Colony Trust Co., Boston. Taxes and insurance.... 351,991 352,786 342,256 347,227 New equipment.......... 143,568 c 71 , 332 5 •. .., .. . . i!IFIXED CHARGES AND EARNINGB.-The immediate fixed charges will Miscellaneous............ 67,323 74,046 5 { 8 5 0 3 0 be $243,017. The net earnings applicable to above charges have been: In 1895, $272,743: in 1891., $221,890; in 1893, $313,778. Dividend on pref. stook.. (2) 473,000 473,000 Nil. --EARNINGS-11 months, i 1897 ....... Gross, $1,198,540; net, $259,392 Balance, surplus......... Jan. 1 to Nov. 30. 31,198 218,390 S1896 ....••• Gross, 1,092,475; net, 135,806 528,690 87,663 OFFICERS-Chairman of Board of Directors, George Coppell; , PresiYear end. Dec. 31. 1896. 1895. 1894. dent and Gen. Man., E.T. Jetfery; Treas., J. W. Gilluly; Sec., William Gross earnings . ......•...•.......• $1,171,282 $1,149,655 $1,098,723 Wagner; Comptroller, Stephen Little. Otttce, 47 William Street, New Netoverexp.&taxes............... 149,161 254,303 200,169 York. (V. 65, p. 25, 26, 69,350, 364, 3'71.l -(V. 63, p. 458, 794, 880, 1062; V. 64, p. 82, 469.) Des Moines&: Fort Dodge KK.-Owns Des Moines to Ft. Dodge, Detroit Hillsdale&: SouthwesternKK.-Owns from Ypsilanti, Ia., 88 m., and Tara to Ruthven, 55 miles; trackage, Illinois Central, Tara Mich., to Bankers, Mich., 65 miles. Leased in perpetuity from July 1, to Fort Dodge Junction, included above. Leased Jan. 1, 1887, to Chio. 1881, to the Lake Shore & Michigan Southern Co.; the rental is $54,000 Rook Isl. & Pao. for 18 years at rental of 30 per cent of gross earns., with per year-4 per cent on stock. Gross earnings in 1895, $39,961. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' U PPLEMENT. LVOL. LXVI. DENVER & RIO GRANDE RAILROAD I,ar,o de los Posu., \1 JANUARY, 1898,] RAILROAD STOOKS AND BONDS. Subscribers -will conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Miles Date Size, or INTEREST OR DIVIDENDS. Boi_"-#;'~ot of of Par Amount R te Wh Wh pa en ue. nd 8 ' st t Road. Bonds Value. OutS anding tenf.er Pay::ie ere a by p~::, Detroit Lansing & Northern.-SEE DETROIT GRAND RAPIDS &WE STERN R R. Detroit & Lima Northe1·n-Stook. .... .... .... • ... ... . ... . ... $100 $2,700,000 Lima Northern Ry., 1st mortgage, ,:,;old.......... Det. & Lima North'n, 1st M., g., $15,000 p.m.o&r Detroit & Mackinac-Stock ($60,000 i s pref.)...... "First lien" bonds $1,500,000 gold . ............ o* "Mort. bonds" $2,500,000 gold, red. at par.... o* Delroi t Toledo & Milw aukee-1st M., $1,500,000 . .. Dover & Rockaway-Stock 6 p. o., rental 999 years. 1st mortga~e ..... _........ . . . . • • . . . . • • . . . . . . . . . . . • . Dubu(fl(,e & Swuz Oity-Stook........................ ID. Cent., West. lines, 1st M., gold ............ c*&r Iowa Falls & Sioux City 1st M:, Ia. F. to 8. City.. Cher & Dak and Cedar Rap. & Chio. 1st morts. .. Duluth & Iron Range-1st mortgage .... . Mp .. o&r 2d M., currency, redeemable st 105, $5,000,000c* 1st mortgage, land grant, r eg............. . ....... Duluth Missabe ct North'n-Stook($5,000,000 auth) 1st mortgage, gold, sinking fund........... . ..... 1st consol. mortgage, $3,500.tOOO, gold. . ..... . ... General 2d mortgage ($3,50u,000) gold, sink. fd. Equipment trusts June 30, 1895. . ... .. . . . . . .. . . . . Duluth Miss. R i ver & No.-lst M., $2,250,000, g .. c* Dul.Red Wing&So.-lstM.,g.,$20,000permile.o*&r DuluthSouthSh.ct.A.tlanti()-Marq.H.&On.Gen.M.c• Duluth South Shore &Atlan., lstmort., gold . . c&r First consol. mort., gold, interest guar ..... c*&r lnc. certs. ($3,0()0,000 held by C. Pao. Jan., '97) Car trusts, Dec. 31, 1896............... . ....... . . . DuluthSnperior& West. Ry.-Com. st'k,$1,500,000 Preferred non.-cum. 5 p. c. stock, $1,500,000.... 1st mortgage, $20,000 pP.r mile, gold & £ .. c*&r Duluth Transfer-1st mortgaire for $2,000.000.. . . 80 102 · a.ii all .... 1895 1897 iS95 1895 1897 . . "5 600 218 184 197 173 173 . ... .... .... .. . . .... .... .... 25 156 416 572 .•• . . . •. .... issi 1893 1894 .... 1895 1888 1885 1887 1890 1892 . ..• ..•. ioo 20 iS96 1891 .... 1895 1869 1888 1887 1896 1897 i892 1,000 1,000 1,000 1,000 1,000 1,194,000 1,266,000 2,060,000 900,000 2,000,000 ..ioo 1,000 (1) ~f.:id--;~S. - - - -------------------11 ------------ .. ·5·g. A_- .&..O. N. Y., Manhattan Trust. Oct:· 1,""i945. 5 g. A. & O. New York City. Apr. 1, 1947 ...4.g. t g. J:·&·D. N .Y .. .T::e:Morgan&Co. June·1,""i995 J. & D. do do 140,000 6 A:·&· ·o. N. Y., 143 Liberty st. 35,000 6 J. & J. do do 100 See t ext. ..... N. Y.,Offloe,214B'way. 1,000 5,425,000 4 g. F. & A. do do 500 &o. See text. 7 A. & 0. do do 3,930,000 Deposite d to sec ure Ill. Oentral 4s of 19 1,000&o 6,332,000 A. & 0. N. Y., Office, Mills Bldg. 5 1,000 4,500,000 6 J. & J. do do 5,000 500,000 5 Annual. do do 100 2,512,500 ..& .. .. . . . . 1,111,000 ...6.g. J. J. N. Y., Central Trust Co. 1,000 2,389,000 6 g. J. & J . do do .... .. 1,900,000 4 g. J. & J. do do . .. . . . 264,608 N.Y.,Post,Martin&Co . J ...&-·J. N. Y., Chemical N. Bk. 1,000 728,000 1,000 500,000 ~ g. J. & J. N. Y., Central Trust Co. 1,000 1,077,000 A. & O. N. Y., Nat. City Bank. 1,000 3,947,000 5 g. J. & J. do do 1,000 14,976,000 4 g. F. &A. New York or London. New York. •. . . . . 3,000,000 4 .... . ...... 678,451 . .... ·········· ..... 100 1,000,000 ---······· .......... 100 1,000,000 5 ..&.. 1,000 1,500,000 4 g. J. J. 6 g. J. & · J. July, '95, coup. last pd. 1,000 1,180,000 ...5.g. ...... June 1, 1995 Oct:,· iS97: 3%.. ....... . Deo.31,'97,lo/o. Aug. 1, 1951 Oct. 1, 1917 52. Oct. 1, 1937 Jan. 1, 1916, Mar. 1, 1917 Jan:· 1: "i922 Jan. 1, 1923 Jan. 1, 1924 Jan:·1;"i924., Jan. 1, 1928 Apr. 1, 1925 Jan. 1, 1937 Aug. 1, 1990 Dec. 31, 191Z 1903 & 1905 ········ 1; Juiy · "i996Jan., 1921 Detroit & L_lma. N orth~rn Ry,-:-( See Map.J-R<~AD-Co!11· 1 were issued for improvements; the bonds are subject to call at 105, to pleted from junot~on with the_Chicago & Errn Ry., south of Lima, ~h10, be drawn by lot; trustee, Central Trust Co. In April, 1897, a mortgage to Teoumsen, M10h., l 92 miles; from. Tecumseh to Dundee, Mich., for $500,000 was issued on the Swamp lands; bonds to be for $1>,000· using 15 miles of Detroit Toledo & Milwaukee Ry. trackage; from each, to run20 years at 5 per cent; trustee, WalterF. Cobll, or Chica,:,;o. Dundee, Mich., i~to J?etroi~, the DetroJt & Lima Northern owns its EARNINGB.-Jan. 1 to Aug. 31, 8 months, gross, $1,870,341 in 1897;own track, ~3 miles, molu~mg oonneot1on trac~s to other roads. . $1 618 49 0 in 1896 In year ending Dec 31 1896 oss $1 973 846 ~ The Detroit Toledo & Milwaukee RR., operatmg from Toledo, Ohio, t' $87'9 426· b 1 · h $.32'5 373· 1' gr95 ' ' $ ' 8 ' to Grand Haven Mich 200 miles is opera ted in conjunction with the ne • • ' a ·• surplus ove! 0 arges, , , 89 gross, 2,1 8,· D. & L. N. ' ., ' 372; net, $1.2?21 897; other moome, _$17,083; interest, $290,202; The Detroit & Lima Northern Ry. f'o. on January 8, 1898, purchased P~!!1;1>ls, $1,890' rmprov_ements, $8,239' balance, surplus, $919,649. the Dayton Northern Ry. Co.'s property, which consists of general ident, J. L. Greatsmger, Duluth ·-<V. 6 5, p. 924.) passenger and freight terminals in the city of Lima, Ohio, andot which Duluth Mlssabe & Northern Ry.-Owns from Duluth to Mounthere is about two miles of main line and sidings. tain lron, Minn., 77 miles; branches, 53 miles; trackage to Union Depot,. Stock and Bonds.-First mort~age 5 per cent 50-year gold bonds Duluth, 2 mil~s; total, 132 miles. In Septemb~r, 1893, conti:ol of this (Manhattan Trust Co., trustee), $1,266,000 outstanding, including road ~as obtamed by the Lake Superlor Consolidated Iron M1~es, with Detroit & Lima, yards and terminals; $1,194,000 additional reserved a o~p1tal of $_30,~00,000. On June 30, 1896, funded debt, mcluding on account of the outstanding Lima Northern bonds. The Lima eqmpment obligations, was $5,564,277. Northern Ry. Co.'s property upon which tha t compa ny had issued EARNINGB.-For year ending June 30, 1896, gross, $1,791,980; net., $1,194,•IOO first mortg~~e bonds was purchased by, and is now a part $1,210,635; other income, $16,525; charges, $1,320,621; balance, of, the Detroit & Lima .Northern Ry. Company"s system. deficit, $93,461. In 1894-95, gross, $1,378,268; net, $802~247; interAdditional Detroit & Lima Northern RJ:, Co. bonds may }?e issued at est, taxes, etc., $696,480; balance, surplus, $105,767; sinking fund t~e rate o~ not exceeding $12,000 _per mile for oo~struot10~ of m ain ch3!rges, $163,922. Total tonnage in 1894-95 was 1,805,255 tons, o! line of ;-ailwayJ and $3,000 per mile on such additional nnleage for which 1,704,679 was ore. Ton mile rate 0·996 cent. V. 64, p.373. the eqmpment thereof.-(V. 64, p. 79!}, 1137; V. 65, p. 571, 620, 9 24, Duluth 1'.llsslsslppl River&; Northern RR.-Operates from 1173.) Mississi:{>Pi, Minn., via Swan River, on the Duluth Superior & Western., Detroit Mackinac&; Marquette RR.-SEE MISCELLANEOUS COS. to Hibbmg on the Duluth Missabe & Northern, 3612 miles. Over the latter road it has connection with all points on Missabe and Vermillion. Detroit & Mackinac Ry ,-Owns from Bay City, Mich., 1.o Alpena iron ranges, and over Duluth S. & W. with Duluth. Capital stock 131miles; Loon Lake Branch, 6 miles; Mud Lake Branch, 38 miles; authorized is $25,000 (par $100); outstanding $4,800. The 1st mort other branches, 66 miles; Alpena & Northern, 5 5 miles into timber limtts gage is for $2,250,000 to the Central Trust Co. of New York as trustee (which forms part of the extension to Mackinac) ; total, 296 miles. EARNINGS.-For year endin~ June 30, 1897, gross, $128,150; net• Much of the branch line mileage is temporary, built only to bring out lumber. See V. 61, p. 558. In 1895 carried 435,107 tons, or whioll $41,729; interest on bonds, $36,400; balance, surplus for year, $5,329 _ In 1895·6, gross, $145,_327; net, $52,~42. int. on b(?nds, $33.t250; bal., lumber, logs and shingles furnished 94 per cent. surplus, $19,592. President, A. W. Wright, Alma, Mioh.-V. t>l, p. 281. HISTORY,ETC.-Formed in December, 1894, to succeed the Detroit Duluth Red Wing &; Southern RR.-Projeoted from Duluth Bay City & Alpena, sold in foreclosure. "Mortgage bonds" for $500,· 000 are reserved for betterments, etc., at not over $50,000 per year. via Red Wing, Minn., and Sioux City, Iowa, to a point opposite Omaha. The stock and $750,000 "mort~age bonds " are held in trust, and if Neb. In operation from Red Wing, southerly to Zumbrota, 25 miles; _deemed best may be converted mto preferred st ock. Bee V. 60, p. 130. branches, 3 miles. Stock, $375,000, of which$125,000 pref.; par, $100. Trustee of mortgage is Central Trust Company. In year ending Jun& STOCK.-The capital stock is $3,000,000, of which $1,000,000 pre· 30, 1896,1. gross, $79,461; net, $25,980; charges, $20,016; balance, !erred is issuable only fot conversion of bonds a s above. surplus, ;:i,5,964. In 1894-95, gross, $76,622; net, $25,139. President, LATEST EARNlNGS.-5 mos., l 1897 ... Gross, $170,328; net, $37,579 T. B. Sheldon. (V. 56, p. 403.) July 1 to Nov. 30. 51896 ... Gross, 118,451; net , 23,260 Duluth South Shore&; AtlantlcKy,-OperatesDuluth to Sault. EARNINGS.-Report for year ending June 30, 1897, in V. 65, p. 1020, Ste. Marie, 409 miles; "Soo" Junction to St. Ignace, 43 m.; other, 120 shows-gross, $406,682; net, $101,943: interest, $116,000; taxes, m.; tracka~e. 17; total, 588 miles. Controlled by Canadian Pacific. $5,079: construction, $2,838; bal., deficit for y ear, $21,975. In '95-6, CAPITAL 8TOCK.-Common stock is $12,000,000; preferred, $10,000,g!'oss, $434,4.62; net, $131,070; charges, $105,36:l; surplus, $25,708. 000; par both $100. Preferred stock is 6 per cent, non-cum. Canadian Pacific Jan. I, 1897, owned $6,100,000 com. and $5,100,000 pref. stock, OFFICERS.-President, J. D. Hawks of Detroit. (V. 65, p. 1020.) $3,000,000 mcomes and $14,976,000 oonsols. Detroit Toledo & Mlhvaukee KK,-Owns Alleo-an to Dun· BONDS, &c.-Abstraotftrst mortgage, V. 45, p. 274. dei:,, Mich., 133 miles; 1 eas es Allegan to Holland (from C. & W. M. in The first consolidated mortgage of 1890 has interest st 4 per cent,. Dec., 1897), 23 miles; t r ack age (Ann Arbor Ry.), Dundee t o Detroit , guaranteed by Canadian Paoifl.o, which Jan. 1, 1897, held the entire 23 miles, and Holland to Grand Hav en (Chio. & W est Mich.), 21 milesissue [$14,976,000] in its treasury as security for its 4 p. c. see V. 65, p 1173. Connects at Tecumseh, Mich., with Detroit & Lim.a outstanding debenture stock; consols for $5,024,000 are reserved for prior bonds North., andisoperatedinoonju.notion with that company. Incorporated and additional amounts may be issued at $20,000 per mile ot new lines, in June, 1897, to take ov er the Michigan Division (as above) of the CinGENERAL FINANCES.- On Dec. 31, 1896, loans and bills payable were cinnati Jackson & Mackinaw. Capital stock i s $1,500,000; tlrst mortgage for $1,500,000 of 5 I?· o. bonds, d a t ed .A.ug. 1, 1897. Stock and bonds $3,352,743. Of the 2,131,288 tons carried in 1895, ores furnished 54 p. c., lumber, etc., 25 p. c. held in interest of Detroit & Lima Northern. (V. 65, p. 620, 1173.) UTEST EARNINGS.-Jan. 1 to Dec. 31, 12 months, gross, $1,591,llf>. Dubuque & Sioux City RR.-(See MaP. of Iltinois Oentral)- in 1897; $1,90!,543 in 1896. Owns Dubuque, Iowa, to Iowa .Falls, 143 miles; Iowa Falls to Sioux EARNINGS.-For year ending Dec. 31, 1896, gross, $1,905,811; net,. City, 184 miles; Manchester to Cedar Rapids, 42 miles; Onawa, Iowa, to Sioux Falls, Dakota, 155 miles; Cedar Falls to Minnesota State Line $671,131; other income, $32,402; interest on bonds,$861,098; taxes,. etc., $39,319; balance, deficit for year, $196.884. In 1895, gross, $1,(merged by consolidation in 1896), 76 miles; total owned, 600 miles. ORGANIZATION.-Controlled since April, 1887, and pra ctically owned 811,823; net, $654,718. Duluth Superior &; Western Ry.-Owns from New Duluth to. by the Illinois Central RR., which has issued its own bonds on the road; the only D. & S. C. bonds held by the public are the 7s issued Deer River, Minnesota, 100 miles. A reorganization, per plan in under Iowa. Falls & Sioux City mortgage for $2,800,000, of which v. 63, p. 189, of the Duluth & Winnipeg sold in foreclosure July 25, $460,500 (July 1, 1890,) in Dubu. & Sioux City treasury.-V. 61,p. 560, 1896. The new company took possession Dec., 11896. New common authorized, $1,500,000; preferred stock, 5 per cent non-cumulaDIVIDENDS-In 1888, lg of 1 per cent; in 1891, 2; ln 1892, about 1 5 of stock$1,500,000; par of shares $100. Common stock for $500,000 and 1 p.c.; in '93,114 p.c.; in '94, 212 ; in '95, Dec., 1 ; in 1896, 3 p. o.; in tive preferred for $500,000 to be issued only "for additional considerations 1897, June, 1 p. c.; Dec., 1 p. o. Stock nearly all owned by Ill. Central. a@ authorized by law." The Canadian Pacific through the medium of EARNINGS.-In year ending June 30, 1896, gross, $2,773,653; net, the Duluth South Shore & Atlantic is understood to control the prop· $1,054,585; 1894-5, gross, $2,055,963; net, $503,247.-(V. 63. p. 402.) erty. New 1st M. is for $2,000,000 ($500,000 in treasury in 1896 forDuluth &; Iron Range RR.-Owns Duluth to Ely, Minn., 116 additional equipment, etc.) and $20,000 per mile additional for extenmiles, with branches to Mesaba Range Mines, Fayal, etc., 57 miles. Owns sions. Trustee, N. Y. Security & •.rrust Co., N. Y. "EARNINGS.--In the' :fiscal year ending June 30, 1896, earnings of old ore docks and yards on Lake Superior costing over $1,500,000. company were, gross, $282,564; net, $78,301. In 1894·95, gross, STOCK, ETc.-Stook authorized, $10,000,000, having been increased $133,258. President, W. F. Fitch, Marquette, Mich.; Secretary, l3enj. in Nov., 1897, from $3,000,000; outstanding in Oct., '97, $500,000; Whiteley, 44 W all Street, New York.-(V. 64, p. 133.) l)ar $100. Land grant from Minnesota about 506,000 acres, of which Duluth Transf'er Ry.-Oper ates 24 miles of track. The mort 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 a nd $4,500,000 2d gage for $ 2,000,000 i s to the Metropolitan Trust Co. of New York, mortgage bonds. The first m ort. bonds a r e authorized a t t he r a te of as trust ee. Inter est due J anuar y 1, 1896, w a s not p aid. John Elio t Bowles was appointed r eceiver in Se ptem ber, 1896. Decree f or fore$25,000 per mile for construction and $7,000 for equipment. The 2d mortga,!1:e was authorized in 1896 for $5,000,000, of which clos ure w a s obt ained Decemb er 21, 1896, b ut no date of sale fixe d and $3,500,000 retired t he 6 p er cent income certificates a n d $1,000,000 no pla n p repar ed t o October, 1897; upset price $ 500,000. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis L (J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A If" E H I Mou nu s V. 'i aynesburg a. z ----- New Marttns~- DETROIT & LIMA NORTHERN RAIL W A y & CONNECTIONS. ' ··'111 ■ •••o---• ·•o'. I .". . . . ·11 I---=~ o ... ·_· . . . . . . • I , ~~ ~ . •_. 0 .... • o-s; ~ ~ "o \ JANUARY, lt,98.1 RAlL.b.lJAD STOCKS AND BONDS. Subscribers will confer a great favor by giving Immediate notice of' any error discovered In these Tables. Btm,d,s-Pr1nc1INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Due. Amount Rate Per When Where Payable, and by pal,When Par Outstanding For explanation of column headings, &c., see notes of of Stocks-Last on :first page of tables. Road. Bonds Value. Cent. Payable Whom. Divideud. Dunk.Al. Val. <I PUtsb.-W. & Venango 1st M., g.c 35 Warren & Venango, 2d mortgage ............ .... c 35 Dunkirk Warren & Pittsburi:{, 1st mort., §old ... c 56 2d & 3d mortgages ($200,000 only are d M.).c 56 Durham d: Northern Ry.-Stock, $500,000 auth ... First mortgage ............. . .......... ...... ....... 42 East Broad Top RR. ti: Ooal-Ist mortgage ........ r .East Mahanoy RR.-1:ltock .......................... East Penn~lvania-Stock 6 p.c a-u .999 yrs.Phil.&R. .36 lstM., god, guar. p.&I. byP.& R. RR. (end.) ... c+ 36 East St. L . ti: Oaron.-Stock (Pa. Co. owns $310,000) ..... East Shore Terminal-1st mortgaa1;, gold ....... . c~ Funded coupon scrip (1st and c "sol. morti?aires) ··-· 2d M. ($300,000), g., red. at 105 & int. any M.&S East Tenn. d: Western N. Oar.-First mortgage .... . ..... Ea,st <I West RR.-Stock $1,500,000 ...... . .......... .... Eastern Kentiteky Ry.-Stock ($1,779,500 is pref.) li1astern ( N. H.J-Stock ..•........... - -.. : ...... -.. - - . ·16 Ilel Ri11er-Stock ....... ................. ... ... ... .. ... 94 Etqin Joliet <I Eastern-lstM. ($10,000,000) gold.o* 187 IJl,izabetktown Lex. <I BiKeSandy-See CHESAPEAKE &OBI IJl,mira Oortland d Nort rn-lst pref. M.• g-old .. ck 120 1st mortgage,:iiold, guar. by Lehigh Valley .... c• 120 Canastota is o hern 1st M., .§uar. (see text) ...... Ntmira<f Lake Ontario-Sodus ay & So.-lst M.i/. . c ·34 /Ctmira <I Williamsport-St'k, com., 5 p. c. ren'l, .C. 751g Preferred stock, 7 p. c. rental, 999 yrs., No. Cent. 751g lat mort., convertible into common stock at par .r 751g Income bonds, 999 years to run ....... . ........ c* /Irie <t Pitts.-Stock, 7 p. c. rental,999 yrs.,PennCo. ·s5 Consol. mort. (for $4,500,000) free of State tax.c 81 Equipment bona.s ....•.....•••..............•..... c 81 General mort., $4, 500,000 series A, i:{Old, g uar... 81 0 - - - - - - - - - - - - - - - - ---- 1870 $1,000 1,000 1872 1,000 1870 1872 1,000 100 isss ---- 1873 ------· 1890 1894 1892 1871 ··-· ---1888 ...... .. .... . ... is9"i o. 1884 1884 1886 1884 .... i860 1863 i868 1870 1890 -·---- 1 ,000 50 50 1,000 1.00 1,000 Text. 1,000 ........... 100 100 100 100 1,000 1,000 1,000 i:ooo 50 50 1,000 500 50 1,000 1,000 1.000 7 g. J. & D. N. Y., N . Y. Cent.& Hud. $1,000,000 300,000 7 A. & 0. do do 7 g. J. & D. 1,000,000 do do 600,000 A. & 0. 7 do do 290,100 See text. ............ M:·&·N. 150,000 6 500,000 4 J. & J. Jan., '8if,.i.ii.t;stiast pd. J.& D.i 6 497,750 5 1,730,450 6 J. & J. Phil., Phil. & Read. Ry. 4 g. M.& 8. 495,000 do do 420,000 ..5.g. F. ..&.A. In default. 1,000,000 .............. 166,480 Text. ..8. g. M.& See text. 277,000 s. 250,000 M.&N. Phila. Gu. T. & S. D. Co. 6 1,500,000 ....... ... ..... . 3,447,300 738,750 3 J. ··&·o. Boston,Off. 52 Oliver St 3,000.000 A. & 0. See text. 3 5 g. M.&N. N. Y., .T.P.Morgan&Co. 7,368.000 ------ 750,000 1,250,000 300,000 500,000 500,000 500,000 963,000 570,000 1,998,400 2,109,000 511,000 775.000 6 5 6 5 5 7 6 5 7 7 7 4 -----····· g. A. & 0. Phila., Lehigh Val. RR. g. A. & 0. do do do do J. & J. g. J. & .T. N. Y., Nat. Bank Com. M.&N. Phlla., Broad St. Sta. do do J. & J. do J. & J. do do A.. & 0. do Q.-M. N. Y.d~nlon Trdit Co. J. & J. do A. & 0 . do do g-. J. & J. do June 1, 1900 Oct. 1, 1900 June 1, 1900 Oct. 1, 1900 See text. Nov., 1928 July 1, 1903 Dec.15,'97,2¾,, Jan., '98, 3% Mch. 1, 1958 Aug.. i; .i915 Mcii.-i; ·ioo2 Nov. 1, 1905 .......... Dec:'i5/97,1¼ Oct. 5, 96, 1~ May 1, 1941 Apr. 1, 1914 Apr. 1, 1914 July 1, 1906 July 1, 1924 Nov. l ,'97,2~ Jan., '98, 3¼% Jan. 1, 1910 Oct. 1. 2862 Dec., '98,1¾%July 1, 189~ Oct. 1, 1900 July 1, 1940 BONDHOLDERS' COMMITTEE.-Thomas S. Krutz, Thomas G. Hill-I Lng June 30, 1896, gross, $3~,976: net, $4,677; charges, $7,403. In house, William W. Cook of New York, C. Lippitt of Norwich, Conn., 1894-95, gross, $37,233; net, $4,765. a~fhJti~c!::i~1it~!. Providence. All the bonds have been deposited Eastern RR. (N. H.)-Owns from Portsmouth, N. H. , to Seabrook w . . (Massachusetts State Line) 16 miles. Leased to the Eastern RR. (now STOCK ~uthonzedandoutst~nding,$2,000,000; par $100. The Dul~th oonsolidated with Boston & Maine) from October 1, 1878, for 60 years & . Sup Prior Belt was org-amzed to extend the system to Superior, a.nd 2 months at $22,500 :per year. In June, 1891, a stock dividend of 50 Wis.-V. 62, p. 232,277,589; V. 63, p. 504, 1159. per cent was paid. Dividends since increase, 3 per cent per annum. Duluth & Winnipeg RR.-See DULUTH SUPERIOR & WESTERN Eel River RK.-Owns from Logansport, Ind., to Butler, Ind., 94 Dunkirk Alleaheny Valley & Pittsburg.-Owns from Dun- 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 kirk, N. Y., to Titusville, Pa., 91 miles. A consolidation in 1872 of the Dunkirk Warren & Pittsburg and the Warren & Ven · April, 1892, then 212 till 1895 and 3 per cent thereafter, but in June, 1897, a decision was rendered in the Superior Court of Indiana revokango .:iompanies. Leased for 500 years from 1873 to New York Central & Hudson River RR., but accounts are kept separate. ing the charter of the Eel River for having leased itself to a competing line-see Wabash item V. 64, p. 1089. Sept. 8 , 1897, Richard Ruddell Rental is interest on bonds and llg per cent on stock. Capital, $1,300,000: par, $100. The N. Y. Central& Hudson River Co. owns $1,067,600 of Kokomo, Ind., was appointed receiver. The April, 1896, dividend was llg p. c.; Oct., llg p. c. (V. 58, p. 716, 1110; V. 64, p. Io8q.; V. 65, of the stock. For year ending June 30, 1897, gross, $207,073 ; deficit under operating expenses and taxes, $5,340; interest, etc., $203,500; p. 462.) l£lgln Joliet & Eastern Ry.-(See MapJ-Owns from Waukegan, dividends paid (llg p. c.), $19,500; total deficit for year, $228,340. In year 1895-96 gross, $218,160; deficit under operating expenses and ID., on Lake Michigan, via Spaulding and Joliet, to Porter, Ind., l30 miles, and branches Normantown to Aurora, to miles-Walker to Cos taxes, $5,054. ter, m .-32 miles; Hammond to Whiting, Ind., etc., 9 miles; total Durham. & Northern Ry.-Henderson to Durham, N. C., 42 main line owned, 180 miles ; spurs to coal mines, etc., 13 miles; miles. Part of the "Seaboard Air Line" system. Dividend in 1892-93 trackage (L. N. A. & Chicago, 91g; Uhlciwo & West Indiana, 4·8; Belt 2 p. c., in 1895·96 21g p. c.; in 1896-97, (i). Ry. of Chicago, 2), 16 miles; side tracks and yards owned, 76 miles. EARNINGs.-For yeaL· ending June 30, 1896, gross, $70,284; net, total track operated, 286 miles. Line Chicago Heights to Chicago un16,386; interest and taxes, $10,579; dividends, (2¼ p. c.), $7,252; der construction. balance, deficit for year, $1,445. In 1894-95 gross, $66,478; net, ORGANIZATION.-An outer belt line at Chicago for transfer of freight $19,387. In 1893-94, gross, $53,081; net. $9,337. from one line to another without breaking bulk. Also reaches coal fields. In 1894 trackage to navigable water of Lake Michigan was East Broad Top RR. & Coal Co. (Pa.)-Owns from Mount Union, Pa., to Wood vale, P a., 31 miles, and leases Shade Gap, 11 miles, secured by 99•year contracts with L. N. A. & Chicago from Dyer, Ind., to Illinois State line (near Hammond), 10 miles, and witl.i Chicago & and branches to mines, 3 miles; total, 45 miles. A coal road opened W. Ind. from there to South Chicago, 5 miles, to terminal property on in 1874. Stock $815,589 (par$50), of which $247,189 is 6 p. c. pref. Calumet River, including 1,25/l feet or water front. Chicago Heights EARNINGS.-Year ending June 30, 1896, gross, $7fl,537; net, $12,834 & Northern incorporatecl in May, 1897, to build from Chicago Heights other income, $609; interest, etc., $24,497; Lal., deficit, $11,044. to Chica_go, was purchased in July, 1897, for $285,000 of E. J. & E . East Mahanoy RR.-Owns from East Mahanoy June. to Waste bonds.-V. 65, p. 194. House Run and branches, 15 miles. Re•leased Dec. 1, 1896, for 999 STOCK.-Stock, $6,000,000; par, $100. years to Little Schuylkill Nav. RR. and Coal Co. and lease a11signed to BoNDs,ETc.-Firstmortgage(trustees Central Trust Co. and Augustus Phil. & R. Ry. Of the stock $280,000 is owned and deposited by the L. Mason) is for $10,000,000; the balance unissned can be disposed of Reading Company under its general mortgage of 1897. for extensions, betterments, etc. Eauip. notes July 1, 1897, $54,771, East Penn11ylvanla RK,-Owns Reading, Pa., To Allentown, Pa., and loans and bills payable, $10,500~ 35 miles; second track 18 miles; all track 71 miles. Leased for 999 years EARNINGS.-5 months, 11897 ....... Gross, $507,870; net, $143,176 from May 1, 1869, totbe Philadelphia & Reading RR. at a rental of 6 July 1 to Nov. 30. 5 1896 ....... Gross, 536,274; net, 186,533 per cent per annum on tbe stock and interest on the bonds. Lease as• ANNUAL REPORT.-Fiscal year ends June 30. Report for 1896·97 sumed in 1896 by the Pbila. & Reading Railway Co. Of the stock was given in V. 65, p. 461. During the year $450,, 00 first 5s were $875,000 is owned and deposited by the Reading Company under its issued, a nd equipment notes, bills payable, etc., were r etired. general mortgage of 1896. Year end. June 30. 1896·97. 18!l5-96. 1894·95. 1893·94. East St. Louh & Ca1·ondelet Ky.-Road from East St. Louis to Falling Springs and E~Rt Carondelet, 12 miles. First 7s, $200,000, Tons carried 1 mile.182,853,924 193,R18,870 162,252,418 137,983,578 due Oct. 1, 1897, were paid. Av. rate p . ton perm. $0 ·0061 !S0·006-! $0·0065 $0·0072 EARNIN~s.-For year ending December 31, 1896, gross, $76,767; net, Gross earninss ...... $1,184,647 $1,292,4-LO $1,080,686 $1,020,326 Expenses ana taxes. 772,064 846,305 730,752 699,865 $23,250; mtere.st, $14,856; balance, surplus, $j,395. -------·- - - - - -- - East Shore Terminal Co.'s RR,-ROAD.-Owns terminal road Net earnings..... $412,583 $446,115 $349,934 $320,461 n Charleston, S. C., 3 miles double track laid with 60 pound steel. Interest and rentals. 356,330 345,873 335,419 303,950 Company also owns 14 wharves, 30 warehouses, about 30 acres of Miscellaneous . .... .. 15,339 23,311 44,028 17,299 and, 4 cotton. compresses, e~c., on the city'.s water front. these being connected by its own road with the other railroads entering the city. Balance........... sur.$40,914 sur.$76,9 31 dPf.$29,513 def.$788 RECEIVERSHIP.-W. E . Huger was appointed receiver in January President, Samuel Spencer, N. Y. IV. 65, p. 194, 461. ) 1896.-V. 62, p. 138. Stock outstanding, $1,120,000. In 1894 four Elmira Cortland & Northern Ry.- ( See lfap Lehigh Valley.) first mortgage coupons lFeb. 1894, to Aug., 1895, inclusive) and six consol. coupons (Se-pt., 1893, to March, 1896, inclusive, were funded Owns Elmira, N. Y., to Uauastota, N. Y., 119 miles, and leases during corporate existence, Canastota Northern, Canastota to Camden. N. Y., into 5 p. c. scrip. First mort. coupons due Feb. 1, 1896 were miles, whose first mortgage bonds are stamped guaranteed principal not paid. Net ear~gs for year ending l\1arch 31, 1896, were $i9,524; 21 and interest. Stock $2,000.000; par, $100. in 1895, $55,682; m 1893·94, $44,528. (V.62, p. 138.) In February, 1896, the entire capital stock was purchased and 5 per East •rennel!lsee Vb·glnla & Georgia.-See SOUTHERN RY. Co cent bonds guaranteed by the Lt-high Valley. V. 62, p. 1177. OperEast Tennessee & Western No1·th Carolina RR .. -A nar- ations now included in Lehigh Valley statements. 1n year ending June 30, 1895, gross, $432,718; net, $124,679; other row•gauge road:trom Johnson City, Tenn., to Cranberry, N.C., 34miles opened in. 1882. ~ortgage trustee is Guarantee Trust & Safe Deposit income, $1,859; rentals, $18,000; interest, $107,500 balance, surplus, Co. of Philadelphia. Stock June 30, 1896, $501,900. Extension Cran• for year, $1,038. (V. 61, p. 794; V. 62, p. 364, 1177; V. 63, p. 402.)_--, berry to Linville, 14 miles, is b eing built by a separate company and Ehnlra & Lake Ontario Ry.-Owns from Canandaigua, NY., was under construction in October, 1897. Chemung Junction, 64 miles; Sodus Point to Stanley, 34 miles; other 2 EARNINGS.-For year ending June 30, 1897, gross, $40,256; net, -total, 100 miles. A consolidation in December, 1886, of the Sodus .lia.y $2,419. In 1895-96, gross, $51,318; net, $14,139, against $9,162 in & Southern and other railroads. Leased at cost of operating to the 1894·95; charges, $17,711. Northern Central, which owns all the $1,500,000 stock. Lease may ~ast & West R~Hroad.-C~rtersville, Ga., to PellCity,Ala., 117 be terminated on thirty days' notice. Year ends Dec. 31. miles; branches, 5 miles. Extension fr-om Peli City to Birmingham is Ea1•ningsGross. .Net. Inlerest,d!c. Bat., def. projected. Formerly the East ti: West RR. of Alabama, sold in f(lre• 1896 ...........•. $665,485 $5,906 $57,568 $51,662 olosure May 29, 1893. (V. 56, p. 923.) The present company was incor- 1895 ............. 594,615 loss. 91,636 65,655 157,291 porated under laws of Alabama Jan. 11, 1894. No bonds issued. 1894 ...•......••• 540,221 loss. 33,729 41,884 75,613 President, Edward Kelly, New York. In year ending June 30 1896 Elmira & Wllllamsport Ry.-Owns from Williamsport, Pa., to gross, $92,602; net, $4,243; charges, $9,736; balance deficit, $5,493'. Elmira, N. Y., 75¼ miles. Leased to the Northern Central Railway In 1894·95, gross, $78,196. (V. 55, p. 938; V. 56, p. 463, 923. l for 999 years from May 1, 1863. The dividends on the common stock Ea.stern Kentuc~y Ry.-Road from Riverton to Webbville, Ky., are 5 p. c. and on the preferred 7 p. c., less taxes, making dividend on 36 miles. Chartered m 1866 and opened through in 1889. Stock is common 4·58 per cent and on preferred 6·38 per cent. Year ending common $1,697,800; preferred $1,779,500. There are n0 bonds. Bills DPc. 31, 1896, gross, $1,014,190; net, $214,944. In 1895, gross, $923;. and accounts payab.le June 30, 1895, ,f i59,630. Earnings for year end 762; net, $141,217; rental, $169,678. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMEN~L [VOL. LXVI. t:-1 0 N ~ MAP OF THE ELGIN, JOLIET AND EASTERN RAILWAY ~ CHICAGO OUTER BELT LINE CONNECTING ALL RAILROADS CENTERING AT CHICAGO. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE ERIE RAILROAD INVESTORS' SUPPLEMENT. 38 fVoL, LXVI. Subscribers vvlll con.fer a great Cavor by giving hn01.edlate notice o.f any error discovered In these Tables, RA.ILROADS. ,...., ". INTEREST OR DIVIDENDS. Bonds-PrineiD J.u.J 1es ate 01ze, or Amount pal,when Due. For explanation of column headings, &c., see notes of of Par Outstanding Rate Per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. - - - - - - - - - - - - -- - - - - - - - 1 -------·- - - ---- illrie :Railroad, Conipany-Com.mon stock........ -·-· ·-·· 100 1100,000,000 ..... . Pref. tock, non cum. ($16,000,000 is 2d pref.).. .... 100 I 46,000,000 4 A-Old Bonds AssmrnD-ROADS CoNSOLIDA TED. l,OOO I N.Y. &E. lst M.,Pierm. to Dun., ext., '97, gold.. cx 446 1847 2,482,000 4 g. M. & N. N. Y., 21 Cortlandt St. May 1, 1947 2d mortgage, (extended in 18i9) gold .. _..... c* 446 1879 1,000 2,149,000 5 g. M. & 8. do do Sept. 1, 1919 3d mortgage, (extended in 1883) gold ...... _.o* 446 1853 1,000 I 4,617,000 4½g. M. & 8. do do Moh. 1, 1923 4th mortgage, (extended in 1880) gold ....... o* 465 1857 1,000 2,926,000 5 g. A. & 0. do do Oct. 1, 1920 5th mortgage (extended in 1888), gold ....... o* 465 1858 500 &c. 709,500 4 g. J. & D. do do June 1, 1928 ErieR'y,lstM.,Buff.Br.,Hornellsv.toAttica,g.o* 60 1861 200 &c. . 182,600 4 g. J. & J. do do July 1, 1931 1st consol. mort., $30,000,000, gold,$ & £ ... o* 526 1870 1,000 , 16,891,000 7 g. M. & 8. <lo do Sept. 1, 1~20 N. Y. L. E. & West. funded coupon bonds, gold.o* 526 1878 500 &c. ; 3,699,500 7 g. M. & S. do do Sept. 1, 1920 Buft. N. Y. & Erie, 1st M. (Buffalo to Corning .. o* 140 1876 1,000 , 2,380,000 7 J. & n. do <lo June 1, 1916 Buff. & Southw., 1st M., Buff to Jamestown, g o* 67 1877 50 &o. : 1,500,000 6 g. J. & J. do do July 1, 1908 Newburg- & N. Y. 1st mort., extended in 1889 .. o* 12 1868 1,000 i 250,000 5 .r. & J. do do Jan. 1, 1929 i3uspen. Bridge & Erie June., 1st M., gu. by Erie 23 1870 1,000 ; 965,000 7 J. & J. do do July 1, 1900 B-Bonds ON PROPERTIES CONTROLLED BY OWNE IRSHIP OF F.NTI RE(*) OR AM AJORITY (+) OF CAPITAL STOCK, OR BY 11)) LEASE. *Bergen Co. RR., lstM.. Ruth. Jc. to Ridgew. N.J . 10 18!"9 I 1,000 1 200,000 6 A. & 0. N. Y., 21 Cortlandt St. Apr. 1, 1911 '"Ch.&ErielstM.,g.(Marion,O.,toHamm'd,Ind.c* . 249 1890 1 1,000 12,000,000 5 g. M. & N. do do May 1, 1982 Chicago & Atlantic Terminal, 1st mort., gold .. 11 . . . 1 1888 1,000 · 300,000 5 g. J. & J. do do July 1, 1918 tElmira State Line Railroad, 1st mortgage ..... · I 7 1 1875 500 &c. 1 160,000 7 A.. & 0. Elmira,ChemungCo.Bk Oct. 1, 1905 .,-rGosb.&Deck't'n,lst&2dM's.,($60,000are2d) , .•. . '88·'89 ...... , 246,500 6 Various 1928·29 *Jeffers'n,lst&2dM's.,ex.in'87&'89(H'daleBr.lc 8 1867 1500 &c, j 300,000 412 & 6 J. & J. Phila., Fidelity Tr. Co. July 1, 1927 lstmort., Carbondalo to S. depot, gold ....... c* 37 1889 1,000 . 2,800,000 5 g. A. & 0. N. Y., 21 Cortlandt Rt. Jan. 1, Hl09 Lon11: Dock Co.cons.M.,g. (now lsli M.) (seetext)o* . . •. 1885 1,000 1 7,500,000 6 K· A. & 0. N. Y.,J. P. Morgan & Co. Oct. 1, 1935 ifMont. & Erie, 1st & 2d morts. ($40,500 are 2ds) '66-'67 ...... i 170,500 5 Various N. Y., 21 Cortlandt St. 1926·27' "l]N.Y.&GreenwoodL.,PriorlienM.,$1,500,000,g. ··io 1896 LOO &c. 1 1,500,000 5 g. M. & N. do do May 1, 1946 1NewJersey&N.Y.,1Rt M. (reorganization) ... o* 34 1880 500 &c. ·1 400,000 6 M. & N. do do Ma.y 1, 1910 2dM.,EtieJc.,toGarnersv.,29m.,&bchs.5m.r 34 1885 500 &c. 2,660 5 J. & J. do do Jan. 1. 1986 Gen.M., $1,200,000 (red.105 after 5 years) ... g .... 1893 500 &c. l 574,500 5 J. & J. do do 1933 N.J.& N.Y.Exten. 1st M., int. gu. byN.J.&N.Y. 212 1887 1 1,000 6,000 6 M. & S. do do June 1, 1910 N.Y.L.E.& W.C.& RR. 1st M., 'lawfulmoney".o' 1 .... 1882 1,000 1,100,000 6 cur. M. & N. N. Y., 21 Cortlandt St. May 1, 1922 * N. Y.L.E.&W.D.&I.Co. lstM.,seeV.56,p.82.c* j .... 1883 1,000 3,396,000 6 J. & J. do do July 1, 191~ *N. Y. Pa. & Ohio, prior lien M., gold,$ & £ .... c* 431 1880 500, &c. 8,000,000 412g. M. & S. do do Mar. 1, 1935 Do. Leased lines-see separate statements for Clev. &Mah. Valley 1RR., Sharon Ry. and NewCas tie & Shen. Valley. tTioga Railroad bonds. (See that company)..... . ..·. '52·'75 500 &c. 504,500 5 & 7 Various. .•••.. .••. 1905 & 1915 c-~1·le RAILROAD COMPANY NEW BONDS. New 2d mort. on Buffalo & Sonthwest'n, gold.c* 67 1895 1' 1,000 ! 1,000,000 5 g. J. & J. N. Y., 22 Cortlandt St. July 1, 1908 New 1st consol. M. for $175,000,000 securin,· :Prior lien bonds, $35,000,0011, gold ........ c*&r ..•. 1895 1,000 ! 30,000,000 4 g. J. & J. New York & London. Jan. 1, 1996 Gen. lien, $140,000,000, g. 8 % to J'ly .'98). o* &r ... 1895 1,000 I 31.032,000 3-4 g. J. & J. N. Y., 22 Cortlandt St. Jan. 1, 1996 K I Erle & Pittsburg KK.-Owns New Castle,Pa., to Girard, Pa., 81 •mlle1-; branch, to Erie Docks, 3 miles; trackage, to Erie, 1 7 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 and interest on the bonds, and the lease transferred to the Pennsylvania -Company. Under the general mort!;{age sufficient bonds are reservAd to retire prior bonds when due. In SApt., 1897, the Pennsylvania RR. -offered to purchase the consol 7s due July 1, 1898, an issue o.f its ;guaranteed trust certificates having been issued in part for this pur-pose.-V. 65, p. 572. EARNINGS.-The lease bas been quite unprofitable to the lessees, the <letioienoy being in 1892, $206,430; in 1893, $188,216; in 1894, ·$86,212; in 1895 profit $7,524; in 1896 loss $321,756. (V. 65, p. 572.} El"le Kallroad.-See Map on adjoining page.-Embraces trunk -line from Jersey City, opposite New York City, to Chicago, Ill., 986 miles, and branches 1,153 miles; total, 2,139 mile11; second track, GlO miles; sidin~s, 1,101 miles; total of all track, 3,727 miles. Tbe total •of 2,137 miles comprises: Lines owned infee. Miles. Leased lines. Miles Piermont, N. Y., to Dunkirk .... 447 Avon Gen. & Mt. Morris ....•. 1)'18 Buffalo to Jame town .......... 67 Montgomery & Erie ........... 1)'10 •B uffalo to Corning .............. 140 Goshen & Deckertown ........ ,r12 Other branches ................. 112 Roch. & Genesee Valley...... 1)'18 Stock all* or nearly all t owned. Leased to Nypano RR. •Chicago & Erie ............... 1)'249 Cleve. & Mahoning Val........ 1181 *Jefferson RR. ................. 1[45 New Castle & Shen. Val. ..... 1)17 :tN. Y. &GreenwoodL. &brs .. ,i-51 Sharon Railway ............... 1[15 :tNew Jersey & New York .... 1[35 Operates No. of N. J. and pur• *Nypano RR .................. ,r430 chased control in July, '97. 1)'26 tTioga RR...................... 58 Otherlines .................... 105 -Other lines.................... 173 Trackage...................... 54 --1 -- Total. ................ - • ..... 1,807 All lines in system.••••• - -• - - •2,163 ,r Se& this company. HISTORY.-On Dec. I, 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 bolds in 1ee or through ownership of all or practically all the stock or the inde-p endent companies, tbe line from New York to Chicago (including the Nypano RR. and Chicago & Erie companif's) and also all b1·anch and subsidiary lines except a few small properties aggregating about 300 miles held under lease. The reorganization plan of August, 1895, was given at length in V. 61, p. 368. In 1896 tbe 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. 683) in all 87 miles of road. Control or Northern RR. of N. J. was purchased in July. 1897.-V. 65, p. 151. In January, 1898, control of the N. Y. Susquehanna & Western was obtained; it is intended to operate the road as an independent line. "The acquisition will save the Erie considerable double tracking- ee v. 66, p. 83, and editorial p. 53. COAL AND STEAMBOAT PROPERTY.-The Erie coal propertrns repre· -sent an aggregate of 10,500 acres or anthracite, of which about 9,000 acres are held in fee; also 53,000 acres of bituminous coal •l ands 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 of the 20,122,086 tons hauled. The Union Steamboat Company has its ,terminal and other properties in Buffalo and a fleet of seven lake steam•ers. See V. 63, p. 514. STOCK.-Tbe stock is to be held by J. Pierpont Morgan, Louis Fitzgerald and Charles Tennant, Bart., voting trustees, for five years, and thereafter until the new first preferred stock shall have received 4 per ,cent 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 stock certificate were given in ,SUPPLEMENT of April, 1897, page 3. BONDS.-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 abstract of deed v. 62, p. 86 and secures $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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $1,000,000 to be used in any one year. The general lien bonds hear intereRt 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 position of the first con~olidated mortgage is substantially as follows: It is a first lien, either by mortgage or collateral trust fthe prior lien bonds, however, preceding the general lieu bonds] upon the company's principal coal properties, upon its water trans portation 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 terminals at Jersey City. upon the Buffalo New York & Erie Railroad (the main line to Buffalo) and the Buffalo terminal properties othAr 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 origin•! Erie Ry. between Piermont and Dunkirk (!46 miles.) Real estate mortgage outstanding Sept. 30, 1897, $438,700. Old Bonds-Uur\er the first oonsol. 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 at (except N. J. & N. Y. bonds,) and to take them up and pledge them with the trustee at maturity. A description of the Long Dock 6s was in March, 1894, SUPPLEMENT under N. Y. L. E. & W. The yearly rental is $450,000. For N. Y. Lake Erie <f w. Ooal <f RR., see SUPPLEMENT January, 1895. FIXED CHARGES.-" The fixed charges of the Erie System (calculated on all bonds which will be outstanding on completion of the reorga.nization) are reduced from $9,400,000 to lji7,860,000 per annum (ineluding prior lien bonds $1,176,000; undisturbed bonds and stock $5,500,000; ~eneral lien bonds, $1,184,000) and for the first two years after reorgamzation a further reduction of about $300,000 per annum is made to an amount nearly equaled by the net earnings of the property in 1893-94. · GENERAL FINANCER.-The reorganization provided a fund of $25,015,600 to be used as follows: To pay floating debt, $11,500,000; to Day collateral trust bonds, $3,678,000; to pay prior lien bonds, $2,500,000; early construction requirements (system) and expenses, $5,337,288, car trusts tor three years, $2,000,000. The old company was greatly hindered by lack of capital, but this is remedied by the bond issues allowed under the new mortgage. Tioga RR. third-rail mortgage bonds for $125,000 which matured Nov. 1, 1896, were purchased by the Erie and held in its treasury. New York & Erie first 7s, due May 1, 1897, extended for 50 years at 4 p. c. V. 64, p. 180, 663. Control of tbe Northern RR. of New Jersey (which has been operated) was purchased in July, 1897. EARNINGS.-5 months, ? 1897 .. Gross, $15,447,668; net, $4,509,867 July 1 to NoT. 30. ~ 1896 .. Gross, 14,065,311; net, 4,280,631 ANNUAL REPORT.-Fiscal year ends June 30. Report for 1896·7, coverini first full fiscal year of new companJ:, was given in full in V. 65, p. 605, 666; see also editorial on pa1rn 6:J t. Statement of earnings and expenses for 1896·7 was giv· n in V. 65, p. 61!5, and for the purpose of comparison similar figures are given for the twelve months ending June 30, 1896; this latter period consists of seven months' operation by this company, as shown in its tlrst annual report, and five month's operation by the receivers of the old·New York Lake Erie & Western Railroad Company. 12 month• to June 30. Gross. Net. Ot°Mr Inc. Oharnes. Bal., Sur. 1897...... $31,497,030 $8,156,936 if$313,513 $8,118,430 $352,019 1896.. . ... 31,645,487 7,926,084 ,rNoTE.-Includes net earnings of Erie Coal Co.'s, $134,312. The earnin~s from 1892 to 1895 inclusive, eliminating all cross entries, etc., have been approximately: I Year ending- Sept.30,'95. Sept.30,'94. Sept. 30,'93. Sept.30,'92. Gross ....... ~ .... $29,207,044 $28,813,513 $34,194,854 $35,239,693 Net earnings.... 6,999,057 7,383,114 10,295,621 19,682,872 Income from oth • , Dr. , Dr. , 16245 621 232 872 886 sources ....... (est.}100,943 - - - --- ____ _ Net $7100 000 $7,400,000 $10,050,000 $9,450,000 ··· ···· ··· ' ' 9FFICERS-Pr~sident, ;E, B. Thomas; .vi_ce• Presid~nt, G. M. Cummmg; Second V1ce•Pr~s1dent, W. F. Merrill, Third Vrne•Pres., Andr1:w Donaldson: Fourth V10e-Pres.,. G. G. C!)chran: Secretary, J. A. Middleton; Treasurer, Ed ward White; Aud1t~r, J. T. Wann. . DrnECTORS.-C. H. Coster, J. ;J, Goodwm, Abram S. Hewitt, John G. 'McCullouih, D. 0. Mills, A.lexander E. Orr, George W. Quintard, Samuel Spencer, Francis Lynde Stetson, Eben B. Thomas, J. Lowber Welsh. Samuel E. Williamson and R. M. Gallaway. -(V. 6'3, p. 189, 229, 358, 477,498,512, 922; v. 64, p. 180 373. 663, 952, 1041; V. 65, p. 111, 151, 232, 615, 651, 665,666,924, 976; V. 66, p. 83.) RAILROAD STOCKS AND BpNDS. JANUARY : 1898,j Subscribers will confer a great f'avor by giving Immediate notice of any error discovered In these Tables. - - - - - - - - RAILROADS. - - - - - - - - - - - - - 1 Miles J!'or explanation of column headings, &c., see notes on fl.rat page of tables. INTEREST OR DIVIDENDS. Bonds-Prinoi Date Size, or Amount - - - - - : - - - - - - , - - - - - - - - - - - paJ,WhenDue. of of VPalaure. Outstanding Rate per When Where Payable, and by Stocks-Last Road. Bonds · Cent. Payable Whom. Dividend. - - - --------- ------ Erie Railroad-(Ooncl'd)-D-Car Trusts, ETC. N. '.l. Car trust, 1888, ser. A. (guar. oy D. & H.).. • •• . 1888 $1,000 l $ 2 ,405 , 090 5 ...5... J. & J. N. Y., 21 Cortlandt St. $63,000 Jan. N. Y.L.E.& W. car tr.,B. to G. incl., part pd. an.o* .... .... 1,000 5 c Various do do Yearly to 1905New Erie RR. trusts (V. 63, p. 514) . ... . ....... ... .... 1895•6 . ... .. 1,170,000 (1) • ••• • do do Yearly. N.Y.Pa. & Ohio eq. trusts, snk. fd. 31, dr'n at 100 .... '88·'90 £100 1,695,864 :, g. Various London. 1908 & 1910 Avon Geneseo & Mt. Morris and Rochester & Genes see Valley Stocks-SEE THOSE Cos. lJurekaSprings-lstmortgage,gold ............... o 19 1883 1,000 500,000 6 g. F. & A.N.Y.,MercantileTr.Co. Feb. 1, 1933 2d mortgage income bonds, non•oum........ .. .... 1883 500 500,000 6 Fe b'y 1. '92-3 pd. 3%; '93-4 none. Feb. 1, 1933 Eoansville ct Indianapolis-T. H. & Southe.lst M.o* · 40 1879 1,000 251,000 7 M. & 8. N. Y., Farm. L. & Tr. Co. Sept. 1, 1909 Evansville & Indianapolis 1st mort.. gold,guar.. c"' 55 1884 1,000 648,000 6 g. J. & J. do do July 1, 1924 Con.M.($2,500.000)g.,gu.p.&i.(end.)Ev.&T.H.o~ 135 1886 1,000 1,601,000 6 g. J. & J. do do Jan. 1, 1926 .loansville ct Terre Haute-Stock ($4,000,000) .. . . . . . . . .. . . .. 50 4,132,100 ... . . . .. .. . Aug. 1, 189$ Pref. stock, non-cumulative. See text........... .... .... 50 1,284,000 ...... A. & 0. Evansville, Ind., office. Apr.15,'97,1%, Consolidated mortgage (now lat lien), gold...... 115 1880 ...... 30,000 6 g. J. & J. N. Y., Farm. L. & T. Co. July 1, 1910lst consolidated mortgage, gold ................ o* 144 1881 1,000 3,000,000 6 g. J. & J. do do July 1, 1921 Mt. Vernon Branch mortgage, gold ......... . ... o* 25 1883 1,000 375,000 6 g. A. & O. do do Apr. 1, 1923 Sullivan County Coal branch mortgage, g~ld .. o* 30 1890 1,000 450,000 5 g. A. & O. do do Apr. 1, 1930 1st general mortgage for $7,000,000, gold ..... o* 199 1892 1,000 2,223,000 5 g. A.. & 0. do do Apr. 1, 194~ ETJanS'IJitte Ten·e B. ct Ohic.-lst M., g., int. guar .. c* 49 1870 1,000 775,000 6 g. M. & N. N. Y., Farm. L. & Tr. Co. May 1, 1900 2d mortgage, gold, int. guar. by Ch. & E. ru .... o* 49 1873 1,000 325,000 6 g. .J. & J. do do Jan. 1, 1900 Incomes.................. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . 1881 ...... 150,000 6 M. & N. do do May l, 1920 Fall Brook-Stock ($500,Q00 is 7 per cent, pref.)... 50 .... ...... 5,000,000 See text. Q.-M.31 Office, Corning, N. Y. Dec. 31, 1897 Fa1-mville ct Powhatan-1st mort. for $550,Uo0. ... .. .. 1888 1,000 320,000 6 M. & N. .... ...... May, 1922 Second mortgage for $500,000, incomes........... . .. . 1889 1,000 500,000 6 F. & A. .. ...... .. July 25, 1923 J!li,ndla11 F01·t Wayne ct W. Railway-1st M. gold .. o* .. .. 1894 1,000 1,200,000 5 g. J . & J. .......... Jan. 1, 1945 2d mortgage, income, non•cum., gold ............ r . . .. 1894 1,000 800,000 5 Sept. 1. . . . . . •. . . . Jan. 1, 1945 Fitchburg-uommon stock ............ _.. ............. . . .. .... 100 7,000,000 .-·.... . . . .. l Jan: fo,'•9·s, 2o/o Pref. 4 l'er cent stock, non-cumulative............ .... .... 100 17,360,000 4m 1897 J. & J. Boston, Office. Bonds,$500,000 yr'ly,'99to 1903 incl., bal.1908.c* . . . . '79-'88 1,000 4,500,000 5 Various . do do Var.'99to1908 do do Moh. 1, 1899 .W.· Feb. 1, 1937 do do June 1, 1900 Bonds............................................... . . .. 1890 1,000 500,000 5 J. & D. do do Bonds ($1,500 000 due 1907 interest A. & 0. . . . . . . . '84•'87 1 000 2 500 000 4 Various do do 1904·5-7 ~~~i!·io·siareoiitiass:;t"i>·:c: s1nceFeb~;·iso1:: :::: ½~~~ :::::: 5,ig8;888 Eureka Springs Ky .-Selig:rnan, Mo., to Eureka Springs, Ark., 1819 miles. Stock, $500,000; par, $100. In year ending June 30, 1897, gross, $60,058; net, $26,208. In 1895·96 gross, $62,746; net, $31,996. Evansville & Indianapolis KK.-Owns Evansville to Terre Haute, Ind. (via. Worthington), 138 miles; branch 6 miles; leases branch 12 miles. HISTORY, ETc.-A. cons olidation in 1885. Of the consols $904,000 held to meet prior liens. The oonsols. and the bonds of 1924 are guaranteed by Evans. & Terre Haute, which owns capital stock, $2,000,000. LATEST EARNINGS.-From Januarr 1 to Oct. 7 (914 months), gross. $213,249 in 1897; $229,426 in 1896. In year 1896, gross, $286,529. REPORT.- Fiscal year ends June 30. In 1896 7 gross, $278,428 ; net, $68,020; interest, taxes, etc., $174,444; bal., deficit for year, $106,424. In 1895-96, gross, $307,52_8; net, $90,711; interest, taxes and rentals, $175,838; balance, deficit, $85,127. (V. 63, p. 878.) Evansville & Richmond Ky.-See SOUTHERN INDIANA R Y. Evansville & Terre Haute KR.-The system includes: Road owned and operated. Miles. Oontrolled-op. separately. Miles. Evansville to Terre Haute.. 109 Evansville & Indianapo1is1f Branches to Mt. Vernon, etc. 53 Evansville to Terre Haute Evansville Belt (stock held). 5 via Worthington, etc ... .... 156 Leased to other co.'s RookTotalin earnings........... 167 ville extension............. 23 ,r See this Company. Southern Indiana Ry. ,r . . . . .• 112 ORGANIZATION, ETC.-Formerly Evansville & Crawfordsville RR. Has close traffic oontracli with Chicago & Eastern Illinois for route to Chicago. STOCK.- In May, 1895, $1,284,000 preferred non-cum. 5 p. c. non• voting stock was issued for Evansv. & Rich. bonds per V. 60, p. 43. DIVIDENDS ! 1881. '84. '85. '86. '87·'90. '91. '92. '93. none On common stk. 5 4½ 5 3 4 5 y'rly 7 7,r 712t since. ,r Also 5 per cent in bonds. t Also scrip dividend; see stock above. On preferred tlrst dividend, declared iJ?- Sept., 1896, was ,2 p. c., payable 1 p. o. Oct. 15, 1896 and 1 p. o. April 15, 1897; Oct., 97, none. BONDS. GUARANTIES, ETc.-The Evansville & Terre Haute endorsed Peoria Decatur & E. notes for $325,000. Certain Evansville & Indianapolis bonds are also guaranteed. Car trust notes Dec. 31, 1897, $65,465. The Ev. & T. Haute general mortgage covers 182 miles of road owned and $3,500,000 of stock of proprietary roads, having a mileage of 277 miles. Of the authorized issue $3,855,000 are held in trust to retire the prior bonds and car trusts at maturity, the mortgage providing that the prior liens shall be paid and not extended. GENERAL FINANCES.-An tmportant change 1n the directory took place in Oct., 1893, when D. J. Mackey resigned. ln 1893 4,000 acres of coal lands in Sullivan County, Ind., were bought. In July, 1897, listed $127,000 general 5a, sold for equipment and old debts. LATEST EARNINGS.-Jan. 1 to Dec. 31 (12 months), gross, $1,104,755 1n 1897; $1,065,270 in 1896. ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting at Evansville third Monday in October. Report for 1896·97 was given in V. 65, p. 775. Year ending June 301897. 1896. 1895. 167 167 Total miles operated . . . . . . • . . 167 $1,122,797 $1,038,273 Gross earnings ..•••....•...... $1,003,430 480,354 451,086 Net earnings.................. 447,622 15,104 13,170 Other income................. 17,191 Total net income .... ...•. Interest on debt .......••.•.•.. Taxes and miscellaneous ..... $464,813 $332,950 52,624 $495,458 $332,353 52,340 ~*•.~~f $4$ 3 57, 261 Balance, surplus.............. $79,239 $110,765 $79,134 Dividends on preferred in 1896-97 (2 p. o.), called for $25,680, leav· ing bal., sur~lus, for year7 $53,559. OFFICERS-President, H. C. Barlow, Evansville, Ind.; ChaITman of Directors, W. H. Tilford, 26 Broadway, N. Y.-(V. 64, p. 610,663,687; V. 65, p.111, 685, 775.) Evansville Terre Haute & Chicago Ky.-Owns from Otter Creek Junction, Ind., to Danville, m., 49 m.; leases Indiana Block Coal Road, 13 miles. on A.pril 30, 1880, leased to the Chio. & East. m. for 999 years; terms, $75,000 per annum and payment of all rentals and taxes. Stock, $581,370, or which $483,630 owned by Ch, & East. m., which guar. int. on 1st and 2d mortgages. Fairmont Mor:aranstown & Pittsburg KR.-( See Map Balt. ct Ohio,) Owns from Uniontown, Pa., to Fairmont, w. Va.• 57 miles; branch, 1 mile. Controlled by B. & 0., which owns the entire capital stock of $3,000,000 and the funded debt of $3,000,000. Current liabilities, June 30 , 1896, $H 2 ,745 _ Fall Brook Kallway.-Owns from Corning, N. Y., to Antrim, Pa., 53 miles; branch to Ulysses, Pa., 40 miles; Fall Brook branch, 7 miles; leases Syracuse Geneva & Corning Ry., Corning, N. Y., to Geneva, N. Y., 58 miles, and branch, 6 miles; and Pine Creek Ry. , Stokesdale Junction to Newberry June., P a., 75 miles; total, 239 miles https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ %1.:J HISTORY, ETc.-Formerly Corning Cowanesque & Antrim. V. 55, p. 21. Dividends, paid quarterly, are 7 p. c. on preferred and 6p. c. on common. The coal line of Phila. & Reading and New York Central is over this line. The three companies guarantee the bonds of the Pine Creek RR. Co. C. C. & A. 6s for$ L70,000 were paid off in August, 1897. EARNINGS.-Fiscal year ends June 30. Statement in V. 63, p. 355: Year Gross. Net. Other inc. Int.,tax., etc. Bal. for diTJ. 1896•7 ..... $630,251 $187,606 $275,268 $27,908 $434,966 1895·6 ...•. 707,381 180,346 252,002 46,372 385,976• 1894-5 ..... 653,690 214,000 182,155 3 l,179 364,976, From balances given above dividends amountin~ to $305,00J were paid in each year, being 7 p. c. on preferred and op. c. on com'llon. -(V. 62, p. 277, 869; V. 63, p. 189,355,794; V. 64, p. 233, bro; V. 65, p. 513.) Farmville & Powhatan KK.-OwnsBermudaHundred, Va., to• Farmville, 89 miles, and branches to Coalboro, etc., 4 m.; total 93 m. 3-ft. gauge. Completed March 3, 1890. Stock: Common, $460,850; referred, $500,000; par, $100. Loans and bills payable July 1, 1896, 61,777. In year ending June 30, 1896, gross earnings, $72,938; net,. 21,364; other income, $1,153; charges, $26,313; balance, deficit, $3,796. In 1894-95, net, $17,573. Findlay Fort Wayne & Western Kailway.-Owns road in operation from junction with the '' Big Four" at Findlay, 0., to Ft. Wayne, Ind., 82 miles. Uses Pennsylvania terminals in Ft. Wayne since Nov. 1, 1897. In December, 1897, work on the eastern extension. was expected to begin shortly. HISTORY.-A reorganization of the Findlay Ft. W. & W. RR. after foreclosure and extended to Ft. Wayne, 20 miles. STOCK.-Capital stock is $2,000,000; par $100. BONDS.-The first m01·tgage is for $1,200,000 gold 5 p. c. bonds issued> at $15.000 per mile. The second mortgage (income) is for $800,000. Mercantile Trust Co., N. Y., and Allen Zollars, Ft. Wayne, Ind., are trustees of both. Interest on firsts to July 1, 1896, was canceled. EARNINGS.-For year ending June 30, 1897, gross, $78,551; net over taxes, $9l>l; no interest paid on bonds. In 1895·96, gross, $80,743; detloit under operating expenses, $13,318; charges, $66,645. -(V. 60, p. 656.) ! Fitchburg KK.-Operates from Boston Hass. to Troy, N. Y., 190miles, with branches as shown below: Lines ownedMiles Lines leasedMiles•· Boston to Fitchburg, Mass ....• 50 Vermont & Mass. RR. Greenfield,Mass., to Troy, N.Y. 84 Fitchburg to Greenfield Mass 56' Vermont to Rotterdam Jct . ..• 61 Other lines...... . ............... 8 Worcester to Bellows Falls, -Vt, etc ...•.....•.•.........•• 90 Total system June 30, 1897.458 Various branches.....••....... , 109 Double track ......•• .....•...••• 164 STOCK-The State of Massachusetlis owns $5,000,000 of the common stock. The preferred stock is entitled to 4 per cent dividends, then common and preferred receive dividends share and share alike. In year 1892-93 the preferred stock was incMased from $16.498,000 to $17,000,000, and in Oct., 1895, to $17,360,000 for consolidation. DIVIDENDS.-~ 1887 '88 '89 '90 '91, '92 '93 '94 '95 to Jan.,'98.•· On preferred. 5 2 2 0 2 312 4 4 3 4 p. o. yearly BONDS, ETc.-Vermont & Mass. guaranteed seourities; see that company. The debenture bonds were described in CHRONICLE or Jun"' 1 1895. V. 60, p. 967. On June 30, 1897, tb.ere wet·e outstanding loans and bills payable amounting to $500,000; there w a , also a . H. T. Dock & El. Co. 4 p. c. note for $500,000 due April 5, 1893, and a. Constitution Wharf mortgage note, 4 p. c., for $!00,0t>0. 011 Sept..i0, 1896, bonds for $2,750,000 were authorized to provide for 4.½ls due Sept. 1, 1897, and 6s due Oct. l, 1897, and in Sept., 1 q97, $1,450,000 new bonds were autho.rized for refundin~ the Clleshire 6s $550,000, due July 1, 1898, and discharging the floating debt, including notes. v. 65, p. 463. EARNINGS.-From Jan. 1 to Nov. 30 (11 months), gross, $6,686,991 in, 1897; $ 6 , 700 , 874 in 1896 · ANNUAL REPORT.-Fisoal year ends June 30. The annual report for 1896-97 was in V. 65, p. 513. In 1894-95 was included in netearningsand dividends paid $143,249 dividends on treasury stock; 1897 and, 1896 figures do not include these dividends. Yea1· ending June 30. 1897. 1896. 1895 1894. Total miles operated..... 458 <i58 458 450 2 7 7 65 7 8 Total gross earnings ..... $$ $$~, $$r•~g~,~~t $ 95 7 Net earnings .. ' · ·· · ·• l, · O $l, • ,O , • , Rentals paid.············· $ 2 !) 9 ,980 $ 259 , 9 80 $ 264 ,980 $264,980 Interest on debt .....•.... 1,009,049 1,001,310 1,014,084 985,487 Other interest............ 14,462 878 7,391 59,223 Dividends................. 603,754 595,096 681,867 502,000> --Balance, surplus......... $29,545 $37,631 $66,97~ $15,296 -(V. 64, p. 234, 287,707,952; V. 65, p. 277,463,513,924; V. 66 ,. p 183.) I I I ·Jfi• g ,ggH :Nit https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,JANUARY, RAILROAD STOCKS AND BONDS., 1898.J 61 Subscribers will confer a great favor by giving bn.mediate notice of any error discovered in these Tables. Bonds-Prine INTEREST OR DIVIDENDS. RAILROADS. pal When Due, Miles Date Size, or Amount by and of Payable, of Where When per Rate Stocks-Last notes see &c., headings, column of For explanation Road. Bonds v!:e. Outstanding Cent. Payable Whom. Dividend. on first page of tables. I •-FitchtJurg-(Ooncluded)-Bonds •. ........... ....... c Bonds, (See text.) $54,000 are 4s .............. Bonds............. . ............. _................ ... Bonds .............................................. Bonds, $2,750,000, all for refundin g .......... .... Bonds, $1,450,000 auth. Sept., '97. V. 6;:i, 4. 463 Mortgage notes (see text, ...................... ... Troy & Boston lstmort. (V. 53, p. 405) ........... Cheshire RR. plain bonds .......... .. . ......... .. c' Brookline & Pepfereil plain bonds, guar. (end) .. 'IL.~ PereMa1·.-P . stk., non-cum(for $6,500,000) .. Holly Wayne & Monroe 1st mortgage, assumed.o Flint & Pere Marf tte mort age 6s of 1920, gold.c Consol. M.,(for 10,000,0 0) $20,000 p. m., g.c* Port Huron & Northwestern-1st mortgage ..... c F. &P. M. lstM. PortH. Div. ($3,500,000),gold.c* Toledo Div. lstM., $400,000, iold, I. B .. ... .. c* ·Fto1·ence d! Orip. Oreek-lstM., 1,000,000,gold.c• I.Florence RR.-lst mortgage . ....................... ~,torida Oentral ~ Pen.-lat M. $5,226 p. m, gold.c* 2d :In. (1st on ext., 92 nnles) $5,226 perm., gold.c,.. C"onsol. mort., $7,800,000 ($10,000 p. m.), gold.. c· South Bound 1st M., gold, int. rental lUe Ba .. c* Florida South. RR.-lat M., $5,000,000, g., guar.c* 8 ·Fonda Johnstown& Glove1·sville-latM.,a.f.,notdn.c* Cons. M. for $500,000 ($300,000 res'd for 1st M.) c Johnstown G. & KinJ.sboro 1st M., assumed ...... CuyaduttaElec. lst .,gu.,p.&i.,byF.J.&G.RR.,g. F. J. & G. refunding mortgage, $700,000, gold.c* ·Fort Wayne & Jackson-Common stock .............. Pref. stock (8 p. c.), 512 p. c. rental Lake Shore ... ·Fort W01·th & Denv. Oity-lat M., g., $18,000 p. m.c* ·--· ---- 1890 $1,000 1,000 1893 1894 ··-· 1895-6 -·-· 1897 . ..... ---------·- ---- .... i897 ---· 35 1874 ..... . 1878 .... ---· 65 281 395 216 235 19 40 ---- 575 666 780 136 248 10 26 4 .... . 98 98 455 .... .......... ------ 1,000 500 &c. ··ioo 1,000 ...... 1871 1,000 1880 1,000 1889 1879 1889 1,000 1897 1894 1892 1888 1,000 1890 1,000 1893 1,000 1891 1,000 1895 1870 100 &c. 1881 100 &c. 1893 ·-·--· 1892 1,000 1,000 100 100 1,000 i:ooo ------ i:c>oo :~r~ I Flint & Pere lUarguette RR.-(SeeMap.J-System includes: Monroe to Ludington, Mich .... 254 Palm to Grindstone, etc ........ 40 PortHurontoEastSaginaw . . 90 MonroetoAlexis(seebelow) .. 19 to Altmont (3 ft.). 341 Total owned.·····.-······· ...... 648 do Trackage, Detroit, etc.······· Zfl to Sand Be!',1,Ch(3ft) 70 do j Temporary 1:>r~nches ..• .. ··· · 112 •1 4 br~nches to Fostoria, East Spurs and sidings ............ i 77 Sagmaw, etc .................. 141 Extension from near Monroe, Mich., to Alexis, Ohio (Monroe & Toledo Ry.), 1812 mileEl, was completed Nov.16, 1896; from Alexis the Ann Arbor tracks are to be used into Toledo, 5 miles. (V. 63, p. 652). The company also owns 4 steamers valuedat$413,564, running from Ludington and Manistee to Milwaukee, etc. By its ferry across Lake ~ic1:ligan to M_anitowoc, where connection is made ~th the Wisconsm Central (Milwaukee & La~e Winnebago RR.), th~ Flmt & Pere M8'.rquette forms part of a short line from Et. Paul to tidewater. opened m . . .January 1897.-See V. 62, p. 455,636,819. ORGA.NIZ.ATION, SECURITIES, ETc.-A reorgamzat10n after foreclosure August 18, 1880. In 1889 absorbed Port Hur1m & Northwestern, etc. STOCK.-Common, $3,500,000; outstanding, $3,398,200; par, $100. '86 '87 '88 '89 '90 '91 '92 '93 none DIVIDENDS since. 2 312 412 6 ·On pref. since '85- 412 512 12 612 BONDS, ;ETC.-Th~ consolidated mo:rtgage of 1939 is a first mortgage on 123 miles of m~1~ _and branch lme tracks. Trui-tee qentral Trust Co. PortHuron D1v1s10n mortgage is for $3,500,000, of whi<?h $125,000 reserved for $104,000 P. H. & N. W. 7s. On Jan. 1, 1897, bills payable $824,965, including $346.334 for construction of Monroe & Toledo Ry., but in Sept., 1 97, Toledo Division mortgage for $400,000 was ·issued, covering Monroe to Alexis, 19 mileEl, as a purchase money .mortgage, and also leasehold interest Alexis to Toledo, thus reducing bill payable. (V. 65, p. 412.) Land grant 50,691 acreA unsold Jan. 1, 1897. The last $40,000 of the equipment 5s was paid Nov. 1 1897. ' . . . TR~FIC.-~n 1895 carried 1,528,694 tons, of which forest products furmshed 43 46 p. c. and grain 10 p. c. LA.TEST EARNINGS.-January 1 to Nov. 30 (11 months). Balance. Inte1·est, etc. Net. G1·oss. 11 months$588,091 rnr.$85,414 $673,505 ri897 ................. $2,532,783 564,205 sur. 39,658 603,863 1896 ................. 2,362,952 ANNUAL REPORT.-Report for 1896 was in v. 64 p. 796 showing: ' ' . 1893 . 1894. 1895. 1896. Year ending D~c. 31. Total gross earrungs .. $2,594,621 $2,505,705 $2,392,332 $2,725,238 $658,184 $648,037 $642,200 Net earn'gs over tax's $658,163 605,161 611,121 610,248 613,323 Interest on debt...... $31,952 sur.$36,916 sur.$53,023 $44,P40 Bal. for year.......... -(V. 64, p. 796; V. 65, p. 412.) Florence & Cripple Creek KR.-(NARROWG.AUGE).-Ownsroad trom Florence to Cripple Creek, Col., 40 miles. Opened Sept. 1, 1894. Capital stock $1,000,000, par $100. Bonds are authorized at $25,000 per mile. Mercantile Trust Co., N. Y., is truAtee of mort~age. Fiscal year ends June 30. In 1895-6, gross. $527,374; net, $281,796; •charges, $114,688; bal., surplus, $167,108. In 1894-95 g-ross, $225,-095; net, $89,916; charges, $52,918; balance, surplus, $36,998. Florence RR.-Owns from Pee Dee, S. C., to North Carolina State ,line, 24 miles; branch Latta to Clio, s. c., 21 miles; total, 45 milefl. The Atlantic Coast Line owns all the $500,000 capital stock. Dividends 1892·93 $10,000· in 1893-94 $19 000· in 1894-95 $38 000· in '• ' ' ' 1895-96, $50,000; in °1896·97, $63:650. ' J .... E~NINGS.- Y ear enUJng ~e ~Oi 1 89 7, gross,$~7o,068; net, $92-, 039, mterest charges, $27,3?0, dividends, $6~,650, balance, surplus t or year, $1!089. In 1895-96, gross, $170,743, net, $90,950. Florida Central & Peninsular RR.-From Columbia, S. C., via 13avannah,Ga.,toJacksonville,Fla.,Tampa,CedarKeys,etc.,940miles; --Of which Columbia to Savannah 135 miles, is South Bound RR. HISTORY.-Areorganization of the Florida Ry. & Navigation Co. fore-0losure in 1888. V. 46, p. 289. South Bound RR. was leased for 99 years from Oct. 1, 1893; later its entire capital stock ($2 033 000) ' ' was purchased. STOCK.-Common stock is $20,000,000, par $100; preferred, 4 per ..oent cumulative [with preference as to both principal and accumulated dividends], $4,500,000. Preferred is exchangeable for any 4 p.c. mort. BoNDs.-June 30, 1897 car and locomotive trusts due yearly o 1900, $95,383 ; notes payable, $410,000. Unde~ the con• solidated mortgage for $7,800,000 (Trustee New York Guar• anty & Indemnity Company), sufficient bonds were reserved to •r etire the priorbouds atma~ity. A rental equal t~ 5 per cent per a~num on So1:1th Bo.und bonds 1s undertaken. Mercantile Trust & Deposit Co. of Baltimore 1s trustee or South Bound mortgage. LA.TEST EARNINGS.-January 1 to Dec. 7 (1114 months) gross $2 212 _ ' ' ' ' :381 in 1897; $1,975,511 ln 1896. ANNUA.L REPORT.-Fiscal year ends June 30. Report for 1896-97 was in V. 65, p. 1170. In 1896-97 gross, on Florida Central proper, :$1,898,288; net, $607,854; interest and taxes, $480,744; balance, sur• !l)lus for year, $127,110. On South Bound RR. (133 miles leased) in 1896·97 gross, $335,646; net, $39,337; interest and taxes, $115,007; 1 b alance, de.fl.cit for year, $75,670. Total surplus on entire road for il.896-97, $51,440. In 1895·96 Florida Central gross, $1,764,623; net, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $500,000 1,932,000 500,000 1,859,000 2,750,000 4 4-5 412 4 4 ·goo:ooo 577,000 ···,i"· 7 550,000 6 100,000 5 6,342,000 1,000,000 8 3,999,000 6 g. 2,100,000 5 g. 104,000 7 5 g, 3,125,000 400,000 5 g. 1,000,000 6 g. 5 g. 546,000 3,000,000 5 g. 415,000 5 g. 4,372,000 5 g. 2,033,000 5 g. 4,241,000 312-1 g . 300,000 7 200,000 6 50,000 6 350.000 6 100,000 412 g. 436,132 ...5¼ 2,291,416 8,176,000 4 (6) fl. ----- .r. & D. Semi-an M.& N. Semi-an M. & S. ...... & .r. .r. ----- Boston, office. do do do do do do do do .Tune 1, 1920 Various, 1903 May 1, 1914 1915 & 1916 Mar., 1927 do do Boston, Fitchburg RR. do do East 8:fe·• Mich., Treas. N. Y., erchants' N.Bk. N. Y., Mer. Ex. Nat. Bk. do do do do do do .ruiy · 1,· .i924. ---------- J . & .r. & D. & A. & .r. A. & 0. M.&N. A. & 0. A. & 0. .r. & J. J. & J. N. Y., Mercant. Tr. Co. J. & J. Balt., Safe D. & Tr. Co. .r. & .r. N. Y., Guar. Trust Co. do do J. & J. do do J. & .r. Dep.Co.Balt. A. & O. Mere. Tr.& New York City. .r. & J. .r. & J. N.Y.,Imp.&Tra.Nat.Bk. do do A. & O. J. & .r. New.Yoi-ir. .A. & o. New York. J . & J. .r. F. .r. . .... ... .July 1, 1898 Dec, 1, 1911 See text. Jan. 1, 1901 Oct. 1, 1920 May 1, 1939 Oct. 1, 1899 Apr. 1, 1939 July 1, 1937 .Tan. 1, 1934 1942 .July 1, 1918 Jan. 1, 1930 Jan. 1, 1943 Apr. 1, 1941 Jan. 1, 1945 .July 1, 1900 Apr. 1, 1921 1913 Oct 1, 1922 July l, 1947 M: .&..S. N. Y., Fam:i~ .& 'l:r. Co . Sept:1}97, 2¾ .r. & D. ;N. York, Mercantile Tr. Dec. 1, 1921 on South Bolllld gross, $300,886; deficit under operating, II $491,461; $15,725: deficit under charges, both roads, $111,884 in 1895·96.-(V. 64,p. '79; V.65,p.1170) Florida East Coast Ry.-Owns from .Jacksonville, Fla., via. St. Augustine, to Miami, 366 miles; branches to Palatka, San Mateo and Tocoi, 19 miles; Atlantic & Western, Blue Springs to New Smyrna, Fla., 28 miles-total 413 miles. A consolidation of fleveral roads in 1893 into the .Jacksonville St. Au~ustine & Indian River, and name chano-ed in 1895. Road is owned oy Henry M. Flagler, President, 26 Broa~way, New York. Old bonds canceled. For year ending June 30, 1896, gro~s earnings were $69d,569; net, $178,724, against $144,080 in 1894·95; charges, $581,234; deficit, $402,510. (V. 61, p. 112, 470.l Florida lUldland RR,-Kissimmee to Longwood, Fla., 44 miles. Successor in Sept., 1896, to Florida Midland Ry., which was sold in foreclosure Mar. 4, 1896, to M. E. Hi hop, of Orland, Fla. (see v. 63, p . 357), who now operates the road. (V. 63, p. 357, 458.) Florida SButhern RK.-(See Map Savannah Florida~ Western.) -Owns from Palatka, Fla., to Brooksville, Fla., 145 miles: Bartow to Punta Gorda, 75 miles; branches. 2A; total, 248 miles. In January, 1896, the St. .Johns & Lake Eustis Ry., 47 miles, was purchased in the interest of the system. The r~ad_is now part of the Plant system and the bonds are guaranteed, prm01pal and interest (endorsed-see guaranty in V. 62, p. 683), hy the Savannah Florida & Western. The bonds carry interest at 312 per cent until Jan. 1, 1900, and thereafter 4 per cent: trustee American Loan & Trust Co Boston (V. 63 P 153 ) · • · · ·• ' fl'onda .Toh~stow~ & Gloversville RR.-Owns from Fonda~ N_. Y., to Northville, 26 miles. In Nov., 18.93, leased Johnstown Glove:rs ville & Kingsboro Horse RR. (11:ow elf'ctr10) for 9~9 years, assuming its first mort. bonds a~d guaranteemg 8 per cent on its $50,00.0 stock. TJ:l.e Cuyadutta_ Electric RR. (SEE STREET RY. SUPPLEMENT) 18 leased till 1~93 and _its bonds have been.guaranteed by the Fonda J. & G., prin01pal and mterest. The stock 1s $300,000; par, $100. In June, 1897, authorized a refunding mortgal!;e for $700,000, of which $100,000 were sold for equipment aud betterments and balance ht'ld to retire prior bonds. In 1896 parties interested in the New York Central entered the directory, V. 65, p. 26, 111. Fort Wayne & .Tackson RR,-Owns .Jackson, Mich., to Fort Wayne1 Ind., 98 miles. On August 24, 1882, leased perpetually to Lake Suore & Michigan Southern at a. rental of $126,027, equal to 512 per cent on the preferred stock (see V. 56, p. 812), and after 1887 any net earnings over 8 per cent on preferred stoclr to be paid as dividends on common stock but not exceeding 2 per cent a year · ' F~rt Worth & Denver City Ry.-Owns E'ort Wo.rth, Tex., to Texline, 4f>5 m., and operates Pan Handle Ry., 16 m., owmng its stock or $290,000. Also owns $200,000 ~tock and $200,000 of 5 p. c. . . bonds of Ft. Worth & Denver Terminal Ry. STOCK, ETC. -U. P. Denver & Gulf owns a mat1or1ty of the $6,820,000 (c~mmon was formerly $9,375,000) common stock; par, $100. In readjustment or 1?96,$2.5~5,000 of old common stock was stamped preferred to receive rnt_erest, 1f earne!l,, at 4 per cent, payable .r. & D. See terms, V. 63, p. 1063. Receiver discharged Nov. 1, 1896. BoNos.-Finances readjusted in 1896, the 1st 6s agreeing (1> to reduce interest to 4 per cent for five years from December 1., 1895; ~2) to tak~,$312 stock for five overdue coupons and the 2 p. c. deferred The past.due coup~ns and 2 per cent due_ upon coupons for rnterest. the next five years to be held m trust for the proteQt1on of the stamped preferred stock certiflca~e holders in ca e of any accident, or failure of );he company to pay the mterest a s proposed. The bonds and coupons to be stamped with notice of tbi agreement." See plan V. 63, p. 75. The "stamped bonds" were described in v. 63, p. 1063. A. bstract of mortgage (Mercantile Trust Co., Trustee) v. 45, p. 440. t $3 4 $1 163 627· G th { 1897 11 E 7 ,761 : ne, , , ·· ··· · ross, ARNINGS.- mon s, 910,782, net, 209,078 1896 ...... Gross~ J an. 1 to Nov. 30. ANNUAL REPORT.-Report for 1896 was m V. 64, p. 1136, showing: 1894. 1895. 1896. Year end. Dec. 31$1,335,879 $1,086,702 Gross earnings ................. $1,010,878 287,478 20::J,778 201,858 Net overtaxes ....... .• .. . ..... 0ther ~ncome. · · · · · ·· · · · · ·· • ·• · · 2,938 9,382 S,86 4 1136.) 82, p. 64, V. p.1063; 63, (V. Y. President, G. M. Dodge, N. Fort Worth & Rio Gr~nde Ry,-Ow:ns from Fort Worth, Tex., to Brownwood, about 146 miles; completed m August, 1891. Mortgage trustee is Central Trust Co.,.New York. Stock outstandin!;", $3,108,100; par, $100; 3!nd loans and bills payable Jun~ 30, 1897, $230,659. Stock and bonds hated on N. Y. Stock Exchange m 1897. INTEREST ADJUSTMENT.-In May, 1897, 1st mort~age 5 per cent bondholders agreed to accept 3 per cent interest from Jan. 1, 1897, to Jan. 1, 1902, inclusive, and 4 per cent thereafter. Old coupons will be held alive by trustee for benefit or bondholders. Of the $2,923,000 11rst 5s, holders of $2,863,000 ai:treed to reduction-see V. 64, p. 888. EAR INGS,-J8'.nuary 1 to Dec. 31 (12 months), gross, $412,259 in 1897; $330,194 m 1896. For year ending June 30, 1897, gross, $323,678; net (over taxes) $80,213; other income, $20; interest on bonds, $87,695; rental , etc.: $20,507; bal., deficit for year, $27,969. In 1895-96, gross $387 127· $177 112· balance' net, $145,762; other income, $52,040; char.res, 0 ' ' ' surplus; $20,690. -(V. 65, p. 463.) INVESTORS' SUPPLEMENT. [VOL. LXVI. Subscribers -will conCer a great .favor by glvln~ hnm.edlate notice of any error dlscovet'e In these Tables. Bonds-Princ1RAILROADS. INTEREST OR DIVIDENDS. Miles D ate Size, or Amount. pal,When Due. Par Outsta nding Rate F or explanation of column headings, &c., see notes of of When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Per cent. Payable Whom. Dividend. Fort Worth & lJenve1· City-( Concluded)Equipment bonds (owned by Union Pacific Ry.) c Pan Han. Ry. lstM. ($218,000 un.U.P.D.& G m. "i"5 Ft. Worth & Rio G1·ande-lst M.,g. (int.not r educed) 146 lstM., gold, old 5s, int.red ......... . . . .......... c* 146 Frankfo1·t & Cinci nnati-Stock, $200,000 ..... . .... Fulton Co. Nar1·ow Gauge Rr-lst M. (!¥500,000) .. .... Extension 1st mortgle ( 1,000,000) .... .. ....... Gainesville Jefferson & o.-lst M. ($161,500 end.) , ·55 2d M., gu. p . & i. facts a s to guar. end. on b onds . . . 55 Walton Railroad, 1st mortgage.. . ....... . ......... 10 Galveston Harrisb. & S . ...4.ntonio-lstM.,g.,land gr.c* ..... 2d mort~age, Harriab. and Houston to San Ant.c* 225 West. .Div. lstM.,g.,SanA.toElPaso,636 m.&br.c* 671 2d mo1;!oage (see remarks) .................... c* 671 Galveston ouston & Hend. of 1882-lst M., guar .. c 50 Gal'IJ. La Porte & Hous.-Receh"er's certs. (see text) .... Galveston La Porte & H. mort., $28,000 per m ... ..... George's Creek & Oumbe1·land Ry.-lst M .... . ... .. .... 2d mortgage .............................. . ........ .... Georgia & Alabama-Common stock $15,000 p. m. ..... Pref. stock, 6 per cent, non-cum., $10,000 p. m .. . . .. lstM.,pref.,$6,500 p.m.,g.,red.at105 aft. 5 yrs.c* 375 1st mort., consol., $10,000,000, gold (See text).c* 375 Car trusts, Sept., '97, incl. interest to maturity.. . ... Georg~a Oa:o~ina & Nm·.-lstM.,§°,guar.lUe :1Ja. o* 268 Geor{J'l,a Midl d Rq.-lst M., g., 1,650,000, m t .gu. 98 Georgia Pacific-SEE SOUTHERN RAILWAY COl\lPA NY. Georgia Railroad & Banking Oo.-Stook. . . . . . . . . . . . 307 Bonds, refunding, not mortgage, currency . ... -c* .... Bonds, not mortgage, currency ............... c* &r Bond@, not mortgage, currency ............... c*&r Bond1<, not mortgage, c ~rency .......... . .. . . . .. r . .. . . - - - - - - -------- ---- 1889 $1,000 1,000 1889 l,000 1888 1,000 1888 100 ---· issi I ------- ······ 1882 1881 500 &c. 1,000 1883 1881 1,000 '71-'80 1,000 1,000 1880 1881 1,000 1,000 1881 1,000 1883 ------ i879 . ..... . .. .... . ..... ·-·· ··ioo . .... 1878 i895 100 1,000 1,000 isso i:ooo 1,000 i897 100 1,000 1,000 1,000 1.000 1895 1896 1880 1882 1887 Frankfort & Cincinnati KK.-Road runs from Frankfort to faris, Ky., 40 miles. A reorganization of the Kentucky Midland sold m foreclosur~ Jan. 4, 1897. Stock, $150,000; no bouds-V. 64, p. 82. Fulton County Narrow Gauge Ky.-R()ad from Havana, Ill., to Fairview, Ill., 31 miles ; leases (for 30 p. c. of gross earnings) Fulton County Extension Ry., Fairview to Galesburg, ru., 30 miles. Canital stock of Fulton County Ry., $636,794; E x tension Ry., $260,900. · EARNINGS.-For year ending June 30, 1896 , gross, $43,946; deficit, $2,332 ao-ainst net of $2 135 in 1894-95· charges $37 367 ' ,:, ' ' ' ' I 5 5 5 g. 3 to 4 g . ... . .... M.& s. Mch. 1, 1899 July 1, 1929 J. & J. J. & J. N.Y. , H.B.Hollins &Co. July 1 , 1928 July 1, 1928 J. & J. do do ---------· ..... . ...... . M:·&·N. 7 7 J. & J. 7 J. & J. See text. 7 J. & J. See text. 6 J. & J. Ga. RR. & Bankinfi Co. 6 g. F. & A. N.Y.,So.Pac.Co.,& ost. 7 J. & D. do do 5 g. M. & N. N.Y.,So.Pac.Co.,23B'rd J. & J. . ......... 6 A. & 0. N. Y., Mere. Trust Co. 5 6 . ..... ----·----· . ..6.. A ...&··o. N.Y Am.CoalCo.,lB'y ------ ---- ·----- ---· ...... . Balto., MarylandTr.Co . ·· -··· do ...5.g. A:·&··o. N. Y.,doCont'l Trust Co. Nov. --1,..i910 July 1, 1912 1911 1908 1910 Feb . 1, 1910 June 1, 1905 May 1, 1931 July 1 , 1931 Apr. 1. 1913 -------- Oct:· 1,· .i909 F eb . 1, 1908 ........... i: .. Oct... i945 do do 5 g. J. & J. Oct. 1, 1945 New York. 1897 to 1903 ...5.g. J. & J. N.Y.,Brown Bro.&Balt. July 1, 1929 1946 3 g. A. & 0. N.Y., J. P.Morgan &Co. r~usta; -l,200,000 11 ill '97 Q.--J. mall'd to N.Y. 1,000,000 5 J. & J. N. ., Guaranty Tr. Co. 6 J. & J. N.Y.,Am. Ex.Bk.&Aug. 1,000,000 300,000 6 J. & J. do do 200,000 l'> J. & J. Office, Augusta, G a. J a n.15,189S J a n. 1, 1922 Jan. 1, 1910 Jan. 1, 1922 Jan . 1, 1922 The first mortgage consolidated 5s are limited to $9,000 p er mile ot with $6,500 additional per mile to be held by the trm1tee for sole Iroad, purpose of retiring the first mortgag;e preference 5s after five years at 105 and acc:u~d interest. Interest o~ the consols during the first fi:veIcates years of _the1.r life may be met by the issue or 6 per cent lO•year cert1fi.of mdebte<i:ness, redeeJ?1able at the pleasure of the company at · _ Gainesville ;i:e«e~son & So~thern KK.-(Narr.ow: Gauge.) Road from Ga~esville to _Social Circle, Ga ., 52 miles, Belmont to Jefferson, 13 m11t-s. Stock 1s $242,687 common; $17,650 prefe rred; par, $~0. Of the firsts, $161,500, a nd of the 2ds, $75,000, are endorsed by the Georgia RR., lessee. Interest on en d01·sed bonds and on Walton Railroad bonrls is paid regularly, but no interest on unendorsed bonds has been paid since JUly 1, 1895. On March 4, 1897, Martin Dooly was appoiuted receiver. For year ending June 30, 1896, gross, $ 40,· 442; net, $2,661; interest, $21,877; balance, d e tl.citfor y ear, $19,216advanced by Georgia RR, lessee.:-V. 64, p, 516. Galveston Harrisburg & San A.ntonlo Ky.-(SeeMap South Pacijtc.)-Owns Houston, Tex., to San Antonio, Tex., 217 m.; San An tonio to Rio Gr. River, 636 m.; br'ch's, 72 m.; leases 12 m.; total, 937 m ORGANIZATION, STOCK, ETC.-Operated by the Southern Pacitl.c Com• pany, which owns $27,005,600 of the$27,093,000 stock (par, $100). BONDS.-First mortgage has a sinking fund of 1 per cent, but 1t is optional wit>- bondholders to surrender their bonds if drawn. In 1893 holders of Western Div. 2ds agreed to cancel claim s for a ccrued interest and that interest on these bonds should be p aid onlv it earned and should be non-cumulative; this agreement h a d not b·een actually consummated to June 30, 1897. Interest accruing on these income bonds is not included in liabilities shown below. V. 58, p. 719. On June 30, 1897, there was due Southern Pacific Co., $1,030,227 and the Texas & New Orleans RR., $867,592. For status ot old claims of the school fund see V 64, p. 1137. Appeal bas been taken. E.ARNINGS.-5 months, ?_ 1897 ...... Gross, $1,859,730; net, $631,495 July 1 to Nov. 30. 5 1896 . ..... Gross, 2,260,233; net, 919,857 Fiscal year now ends June 30. Year ending June 30, 1897, gross, $4,824,018; net, $1,388,643. For year endin g Dec. 31, 1896, gross, $5,127,630; net, $1,719,859; interest, $1,151,743; balance, surplus for year, $568,116. In 1895, gross, $4,870,779. (V. 62, p. 456; V. 64, p.1137.) Galvesto n Houston & Henderson KR. of 1882.-0wns from Galveston. Texas, to Houston, Texas, 50 miles. ORG.ANIZATION.-The M. K. & T. and International & Great North have used the road Jointly since December, 1895, under a contract providing for payment to mortgag-e trustee of $100,000 yearly to meet interest on G. H. & H. bonds and an additional rental of $ 24,000 per annum for dividends or other purposes-see V. 61, p. 1064; V. 63, p. 697. M. K. & T. and Internathnal & Great Northern, each own 4,999 shares of G. H. & H . stock-see V. 61, p. 1013. Stock$1,000,000; par, $100. For year ending Dec. 31, 1896, gross, $317, 985; net, $148,405; interest, $100,000; balance, surplus, for year, $48,405. In 1895, gross, $538,780; net, $91,988. (V. 63, p. 27 ; V. 65, p. 1114.) Galveston La Porte & Houston Ky.-Owns road from Houston. Texas. via La Porte, to Galveston 56 miles. RECEIVERSHIP.-T. W. House and M. T. Jones, of Houston, Texas, were appointed receivers in January, 1896, and the road finished by the aid of receivers' certificates. In January, 1898, negotiations were pending with C. P. Huntington for purchase of the road for $1,000,000 in guaranteed 4 p. c. bonds. Year ending June 30, 1897, gross earnings were $129,412; deficit under operating expenses, $76,470. (V. 64, p. 610, 1041; v. 65, p. 111, 976.) George's Creek & Cum.berland KK.-Ownsroadfromjunction with W. Va. Central Ry. at Cumberland, Md .• to New Detmold mine at Lonaconing, Md., 21 miles; City Junction to junction with B . & 0. RR., 1 mile; branches, 11 miles; total, 33 miles. Capital stock, $1,000,· 000. Car truets for $ (1) outstanding, payable Union Trust Co., Philadelphia. Controlled by American Coal Co. and Ma ryland Coal Co. of Maryland. President, James A. Milholland, Cumberland,Md. GeorO'la & A.labam.a Ky.-(See Map.J-Operates the shortes t line (by74 miles) from Montgomer y, Ala., to Savannah, Ga., etc., viz. : Road ownedMiles Leased i n perpetuityMiles Montgomery to Lyons .......... 265 Lyons to Meldrim .............. ,r58 Col.to A.lbany (since Jan.1, 97). 88 j TrackageAbbeville to Ocilla............. 31 Meldrim to Savannah.......... 17 I Total owned ................ 3841 Total operated June 1, '97.459 ORGANIZATION.-In August, 1895, succeeded to the property of the Savannah Americus & Montgomery, sold in foreclosure May 17, 189 5 , and reorganized per plan in V. 61, p. 470; see also V. 62, p. 502. As to lease, etc., in April, 1896, of Central of Georgia line and terminals, see V. 62, p. 456. The Abbeville & Waycross was merged in Aug., 1896. Columbus So. Ry. (88 miles) ab sorbed Jan. 1, 1897. V. 64, p. 82. SECURITIES.-First mortgage preference 5 per cent 50-year gold bonds are for $4,000,000, and are not to e:x:ceed $6,500 per mile of main line. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $160,000 225,000 60,000 2,863,000 150,000 171,000 313,000 245,000 75,000 40,000 4,756,000 1,000,000 13,418,000 6,354,000 2,000,000 250,000 See text. 536,000 6:') ,000 3,680,000 2,650,000 2,230,000 2,382,000 440,000 5,360,000 1,650,000 ~ny si~-months' m~er~st period; coupons of July, 1896, to July 1897, mclus1ve. we,:e paid m cash. (V. 63, p. _29.) . G ENERAL li INANCES.-ll, Sept., 1897, m addition to amounts given m table above, the company held in Its treasury on present mileage~ $25 3,000 first preference bonds, $1,056,000 consols., $1,090,000 prefe rred and $1 930 000 common stock • ' · EARNINGS.-5 months, l 1897 ........ Gross, $512,741; net, $1Z0,441 .Julv 1 to Nov. 30. { 1896 ........ Gross, 438,655 ; net, 1.>4,977 For year endin~ June 30, 1897, gross, $1,021,836; net, $284,055. In 189 5-96, gross, $626,125; net, $167,241. In 1894-95 gross, $477,035. Pres., John Skelton Williams, Richmond, Va.-(V. 64, p. 947, 1041.) Georgia Carolina & Northern Ky.- Owns road Monroe, N. C. , to Atlanta (Inman Park), Ga., 266 miles; completed in April, 1892. Belongs to "Seaboard" system, and bonds guaranteed (bJ'." indorsemen t on each bond) by lessees, Seaboard & Roanoke and Raleigh & Gaston RR. Cos. Mortgage abstract, V. 49, p. 239. Stock authorized, $1,000,-, 000; outstanding, $535,300 (par $100), mostly owned by the lessees. E.A.RNINGS.-For year ending June 30, 1696, gross, $787,105; net $26,822. ln 1894·95,gross, $648,247; def. under operating, $119,524 Georgia Midland Ky.- Owns road from Columbus to McDonough, Ga., 98 miles. Successor A.pril 1, 1896, of the Georgia Midland & Gulf RR. , sold in foreclosure Feb. 1. Leased from July 1, 1896, for 99 years to the Southern Ry. for $49,500 annual rental (being Interest on the first mortgage bonds) and rental obligations on Georgia Midland Terminal to the amount of $2,500. Capital stock is $1,000,000, owned by Southern Ry. Co. (V. 62, I>, 1177.) Car trusts in 1896, $9,576. EARNINGS.-[n year ending June 30, 1896, gross, $164,305 ; net, $27,321. In 1894-5, gross, $148,741; net, $17,026. N. D. Lancaster, Secretary, 10 Wall St., New York. -(V. 62, p. 1177; V. 63, p,36r.) Geor~la Kajlroad.- Under this name is operated the lines leased from the Georgia RR. & Banking Co.-which see. Report of operations for year ending June 30, 1896, was given in V. 64, p. 231; V. 65, p. 924; v. 66, p. 81. Georgia R ailroad & B ank l n o- Com.pany.- Owns from A.ufs'Usta., Ga., to Atlanta., Ga., 171 mi'i'es; branches to Washln~on and Athens, 58 miles; Macon & Augusta RR. (proprietary r oad), Camak, Ga., to Macon, Ga., 7 4 miles; trackage, 4 miles; total, 307 miles. ORGANIZ.A.TION.-Owns also one-half the stock of the Western Railway of Alabama (the Central of Georgia Railway owning the other half), and a 40 per cent interest in the Atlanta & West Point (which see). Guarantees (jointly with Central RR. & B. Co. of Georgia) the $1,543,000 first mortgage 412 per cents of Western Railway of Alabama. In April, 1881, the railroad (307 miles) and its interest in the other railroad companies were leased for 99 years to W. M. Wadley and associates, for the Central of Georgia and the Louisville & Nashvllle, at $600,000 per year. As to reorganized Central of Georgia Ry.'s relatio:p.s with the Georgia RR. in January. 1898; see V. 66, p. 81. Dec. 31, 1892, the banking department was turned over to the "Georgia Railroad Bank," a separate corporation, a majority [$198,200] of whose stock is held by the Georgia RR. & Banking Co. DIVIDENDS?_ '81. '82. '83 to'87. '88. '89 to Jan., '98. Since 1880, P. Ct. 5 912 1014 10 yearly 10~ 11 p. c. yearly. COMPANY'S REPORT.-In year ending March 31, 1897, rental, etc., was $600,000; dividend from bank, etc., $21,672; total, $621,672; lnterest, $148,000; dividends paid (11 per cent), $462,000. EARNINGS.-307 miles, ?_ 1897 ....... Gross, $223,675 : net, $214,106 July l to Nov. 30.-5 mos. 51896 . . ..... Gross, , 14,742, net, 258,061 Other income, 5 mos., 1897, $31,264, against $31,376. Earnings o · railroad for year ending June 30, 1897, gross, $1,590,659; net, $451, 363; dividends received, $107,800; r,:mtal to Ga. RR. & B. Co. $600,000. In 1895-96, gross, $1,479,792; net, $-131,120; dividends received, $92,752; total income, $523,872. In 1894-95 gross, $1,307, 638: net, $320,274; total net, including other income, $-113,026 -(V. 65, p. 924; V. 66, p. 81.) • Georgia Southern & Florida Ky .-(See Map of Southern Ry.)Owns from Macon, Ga., uo Palatka. Fla., 285 miles. HISTORY.-A reorganization of the Georgia S. & F. Rail1'oad, sold in foreclosure April 2, '95. (Per plan in V. 60, p. 928; see also V. 59, p. 551. STIJCK.-On June 30, 1897, Southern Ry. owned $109,000 of ea ch of the three classes of stock. V. 63, p. 29. DIVIDENDS.-A. dividend of 4 p. c. on bt preferred was paid Nov. 1, 1896; in 1897, Nov., 5 p. c. On 2d pref. in 1897, Nov., 2 p. c. BONDS.-Abstract of 1st mortgage of 1895 was in V. 61, p . 429. The mortgage is for $4,000,000 and covers all of the property and franchises and provides also that the $684,000 first preferred swck authorized shall constitute a lien upon the same second only to the bonds and coupons. Unissued firsts are reserved for old claims for car t rusts and for improvements. On .June 30, 1897, equipment notes, $63,4 6 6. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL. LXVI. Subscribers will confer a great Cavor by giving lnlmed.late notice oC any error discovered In these Tables. Bonds-Prlnol, INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or pal.When Due.. Amount Par Outstandin~ of For explanation of column headings, &c., see notes of Rate r,er When Wh-'re Payable, and by Stocks-Last R<'ad. Bonda Value. Oen. Payable Whom. on first pa~e of tables. Dividend. - - --- --- ..... $ ...... $1,000,000 -- .... 684,000 5 {Ii.isin Nov. Balt. M.-T:& n:cio.&N.Y. No~ ."i/97; 5%, ..... 1st pref., red. aft. Jun e I. 1905, $684,000, 5 p. c. Text . ...... 1,084,000 2 in 1897 Nov. do Nov. 1,'97, 2%, , do 2d pref., $1,084,000, 5 per cent .......... . ........ ---1,000 3,611,000 5 g. J. & J. Balt.M.T.&D.Co.&N.Y. July 1, 1945· 1st mortgaf, gold, $4,000,000 ..... . . •. llleBa.c• 285 is9·5 1,000 100,000 A.. & o. PhHa , P. & R. office. 6 ..... 1898 6ettys1Yurg tt ar,-isb.-So. Mt. lstM. ~ guar. by A. & 0. 250,000 iss2 1,000 6 do do 1914 Gettysb'!! & H. 1st M., old issue... Phlla & Rd. 215,000 Various 1,000 5 do do Oct. 1, 1926Con. M. $565,000, g.............. RR.(old co.) ·35 1891 246,500 1888-9 -----6 ..... 1928-29 Goshen d!-Deckert'n-lst & 2d M. ($60,000 are 2ds) 300,000 1,000 5 g. J. & D. N. Y.,Gr'd Cent.Station. June 1 , 1942: Gouverneu1· tt Oswe3/tchie-lst M., gold, gu. p.& i.c ·1j 1892 5,718,700 . ..... . 100 . ............... Grand .Rairids tf In iana Ry.-Stock, $6,000,000.c' ---···1·g. J. & J. N. Y., Winslow, L. &Co. Oct:· "i899· 970,000 1,000 1st M., and grant, g., s. f. (guar. by Pa. RR.) .. c* 335 1869 1,000 4,405,000 4½g. J. & J. do do July 1, 1941 1st mort., extended, gold, guar. by Pa. RR ..... c* 335 1891 3,962,000 & o. Philadelphia, Pa. 1,000 Oct. 1. 1936 ' 2d M., S:5,000,000, g., 3 p.c. int. till Oct.2,1899.c.. 1896 3,~g. A.. Q.-F. N. Y. Office, 27 Pine St. Fb. 1,'98, 112% 100 25,000,000 Gt. Northern-Stock, pref., non-cum. (no com.) ... ..... 1,000 15,000,000 4 g. M.& S. do do i892 Sept. 1. 1902 Collat. Tr. mort., red. at 100 on 3 months, gold.c Q.-F. 100 20,000,000 6 do do Bt. Paul Minn. &Man.-Stock (rental 6 p. c. in told) Feb. l, '98, 112. 1,000 8,000,000 6 g. A.. & o. New York and London. Oct. 1, 1909 Bt.P.M.&M.2d (now 1st M.)g. doesnotcov. l' s)c* 624 i879 5,676,000 1,000 6 g. M.&N. New York, 27 Pine St. Nov. 1, 1910 Dakota Extension 1st M., g-old ... . .... . ... . .... c* 1,221 1880 1,000 13,344,00C, 6 g. J. & J. do do July 1, 1933 Consol. M., 1. gr. (now 1st M. on landP) gold .... 2,655 1883 1,000 21,262,000 do 4½g. J. & J. do July 1, 1933: Do do 2,655 1883 4 g. J . & D. do do Montana Exten. lstM. ($25,000p. m.),gold.c*&r 420 1887 1,000&c 7,907,000 June 1, 1937 4 g. J. & J. N.Y.&Lon.,BaringBros July 1, 194& Pacific Extension M. for £6,000,000, gold.. c*&r 819 1890 £100&c £3,000,000 Minn ea~Un.RR.1st M.,'b·~· ($650,000 are 5s~c* ..... 1882 $1,000 $2,800,000 5&6g. J. & J. New York, 27 Pine St. July 1, 1922.' East of nn. 1st M. ($5 , 00 p. m.), g., gu..c &r 72 1888 l,OOO&c 4,700,000 5 g. A.. & o. N. Y.27Pine; Bos.,Lee,H A.pr. 1, 190£, Montana Oen. lstM.,g.($6,000,000 are 6s)~u.c&r 256 1887 1,000&c 8,700,000 5&6g. J. & J. New York, 27 Pine Bt. July 1, 1937 3,646,000 Wlllmar&SiouxFalls lstM., g., gu.p.&i.(en )c+&r 205 1888 1.000 5 g. J. & D. do do June 1, 1938 500,000 1,000 5 g. J. & J. N.Y.&Lon., BaringBros July 1, 19H1 Minneapolis Western 1st mort., gold, guar..... c* .... ...... 6wrgia Southern d! Fla.-Com. stock, !fl,000,000 .. ·----- ---- 1; ---· ---· LATEST EARNINGS,· 5 months, ? 1897.Gross, $387,263; net,$132,521 July 1 to Nov. 30. { 1896.Gross, 380,373; net, 128,415 ANNUAL REPORT.-Fiscal year ends June 30. Report for 1896-7 was given in V. 65, p. 617, showing: Gross earns .. $863,542; net, $272,834; interest on bonds, $179,875; bal., surplus for year, $92,959. ln 1895-6, gross, $869,115; net, $258,786; interest on bonds, $179,200; bal., surplus, $79,586. In 1894-~5, net, $228,595. OFFICERS.-President, Samuel Spencer, New York; Vice-President, Wm. Checkley Shaw, Macon; Secretary and Treasurer, Ben C. Smith, Macon; Ass. Secretary, R. D. Lankford, N. Y.-(V. 65, p. 61 7, 1173.) Gettyl!burg & Harrisburg KK.-Carlisle to Gettysburg, Pa., 32 miles: branch to Round Top, Pa., 3 miles. The Reading Company owns $535,000 of the $600,000 capital stock and has deposited it as part security for its general mortg-age of 1896. Car trusts in1897, $18,000. Goshen & Deckerto-wn Ky.-Goshen to Pine Island, N. Y., 1112 miles. Lell,sed to Erie RR. for 45 years from Jan. 1, 1872. Capital stock, $96,190 (par $10); dividends in 18U5·6 were 4 p. c. Rental (with $246,500 6 p. c. bonds outstandin g), $19,035 per annum. Goove:r11eur & Oswegatchie KK.-Owns from Gouverneur to Ed.wards, N. Y., 13 miles. Stock, $350,000, all owned by N. Y . Cent. -which guarantees the bonds. See V. 55, p. 810 and V. 56, p. 501. G:rand Rapids & Indiana Ky.-(See Map of Penr-S'!Jlvania RR.) -owns from Fort Wayne, Ind., to Mackinaw City, 367 miles· Manisree Branch, 19; other branches, 47 miles; total owned, 433 miles; operates the following roads but has not assumed tb.e old company's leases thereof: Cincinnati Richmond & Fort Wayne RR., 86 m; Tra.,.erse City RR., 26 m.; Muskegon Grand Rapids & Indiana RR., 37 11. HISTORY.-Successor Aug. 1, 1896. of Grand Rapids & Indiana Rail?-oad, foreclosed under second mortgage per plan in V. 63, p. 153. STOCK.-Stock, $6,000,000, of which Penn RR. Co. owns $2,644,540. BONDS.-The first ,uortgage land grant bonds extended at 4½ per cent are endorsed with the guaranty of the Pennsylvania RR. Co. to purchase the coupons as they mature, and the bond itself at maturity. They have no lien on land p:rant. See guaranty V. 56, p. 649. Second mortgage of 1896 is for $fi,OOO,OOO, bearing interest from Oct. 1, 1896. for one year at 2 p. c.; two years at 3 p. c. and thereafter at 4 p. c. 2ds for :t,J ,038,000 lleld in treasury Jan. 1, 1897. Mortgaf!e trusteei,: William N. Jackson, of Indianapolis, and Commonwealth Title, Ins. & Trust Co., of Pbila. Reale tate mortgages, $150,000. LANDS.-In 1~96 sold 15,826 acres uf land for $123,943. Lands unsold Jan. 1, 1897, about 210,087 acres. *EARNINGS.-11 months,?_ 1897 ... Gross, $2,!H9,992; net, $589,698 Jan. 1 to Nov. 30. 5 1896 ... Gross, 2,271,547; net, 396,069 * These earnings are for the whole system, 585 miles. ANNUAL REPORT.-Report for 18~6 was in V. 64, p. 1086 (and balance sheet in V. 65, p. 25). In 1896 carried 1,369,797tons freight, of which 49 p. c. was lumber, etc., and 8 p. c. coal. Year end'g Dec. 31. 1896. 1895. 1894. 1893. Miles operated....... . 433 436 436 436 Gross income ........ $1,899,444 $2,074,841 $1,900,401 $2,185,899 Netoverexp's &taxes 304,250 410,116 404,680 349,859 Interest charge for calendar year 1897 about $310,000.-V, 63, p. 153,229,601,754; V. 64, p. 1086, 1088; V. 65, p. 25.) Great Northern Ky.-(See Map.J-Operatesalow•gradetrunkline, extending from St. Paul, Minn., across the great wheat belt of the Red River Valley and across the State of Montana, tapping its si1ver and copper mining district, to the Pacitic Coast at Spokane, Wai:;h., Portland, Ore., Westminster, British Columbia, etc. From Duluth, the head of navigation on the Great Lakes, the steamers of the Northern Steamship Co. (whose $1,500,000 stock is owned) run east to Bu.tfalo, N. Y. Lines leased and operatnlMinneapolis Union Ry., etc.. 6 St. Paul Minn. & Man. Ry., Eastern Ry. of MinnesotaSt. Paul to Lowell, Wash ... 1,790 Hinckley to Duluth......... 72 Branches in Minnesota, the Montana CentralDakotas and Montana .... . 1,990 Great F alls to Butte, etc... 257 Trackage to Spokane, etc.... 10 Owned, unbonded-oper. sep't'lySeattle & Montana RR. Total operated directly .. 3,790 Fairhaven & Southern RR. Stock ownedr-oper. sepa1·attlyWestruinster t;outhern RR. Willmar & Sioux FallsSeattle to So. Westminster. 159 Willmar to Yankton, S. D.. 205 Duluth Watertown & PacificTotal road July, 1897 ... .4,559 Watertown to Huron, Dak. 70 2d and 3d track and sidings. 708 HISTORY, STOCK, LE.A.SES, ETC.-This corporation in February, 1890 leased the !:lt. Paul Minneapolis & Manitoba for 999 yearsi assuming 1ts funded debt and guaranteeing 6 per cent per annum in god on its $20,· 000,000 stock. The GreatNorthern'sauthorized capital was $40,000,000. of which $20,000,000 preferred 6 per cent non-cumulative was ottered to Manitoba stockholders at 50, the remaining 50 per cent being paid by a transfer to the Great Northern of all the securities owned by the Manitoba Company, amounting to over $22,000,000; subsequently $5,000,· 000 of preferred was issued. The securities acquired by the Great Northern were put m trust to secure unity of system. (See V. 49, p. 435.) STOCK-In 1893 $fi,OOO,OOO preferred stock was sold to pay for equipment, terminals, etc. No common stock issued. See V. 56, p. 753. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I l I I LA.NDS.-La-n d sales in April, 1897, had retired all the lstmort. bondB' and were then applicable to con sol mort. of 1883. Sales for year ending June 30, 1897, were 35,809 acres for $287,727 and 437 town lots for $10,ROO. The net amount due on land contracts June 30, 1897, was $1,295,2«; lands unsold, 1,427,328 acres, of which 118,353 acres in dispute with St. P. & Northern Pacific. Minneapolis & St. Cloud 1ITant was 476,864 acres: unsold July 1~ 1897, 408,526 acres; sales in 1896-97 were 1,424 acres for $7,598. DIVIDENDS, ? 1890 1891 1892 to 1896 (inclusive), 1897 189S: Great No. pfd. % 5 1 4:\.1, 5 p. c. yearly (Q-F.) !'\12 below On Great Northern preferred in 1898, Feb., 1).1;>. c. BoNDs.-In 1892 the Great Northern Issued its collateral trust bond& for $15,000,000, secured by deposit with the trustee of £3,000,000 PacifloExtension 4s of the St. Paul Minn. & Manitoba Ry. Co. V. 54, p. 525. The St. Paul Min. & Man. consol. mort. of 1883 is for $50,000,000, of which bonds are reserved to pay prior liens. The consolidated mortgage of 1883 is now the :first and only lien on the company's land grant and on 670 miles of railway in Minnesota and a second lien on the remaining 1,873 miles in Minnesota and the Dakotas, the prior liens on which average only $7,300 per mile. V. 64, p. 518. The mortgaire on Montana Extension is for $25,000,000 tor extensions, $15,000 per mile being allowed for second track; bonds for $11,502,000 secured by this mortgage, additional to amount in table,. are deposited as part secu. for Pac. ext. bonds. A bstram. V. 45, p. 342_ Pacific extension, mortgage for £6,000,000 (trustee of mortgage Central Trust Company of New York), provides for bonds at £6,000 per mile in Montana and £7,000 per mile west of Montana; £3,000,00<> of this issue, in addition to those given in the table above, are pledged to. secure the Great Northern's collateral trust bonds. See abstract of mortgage. V. 52, p. 82. Easte1·n Railway o.f Minnesota runs from Hinckley northward 70 miles, to a point near Duluth; the mortgage covers road, equipment, terminals and elevators. Montana Central bonds cover several roads (See adv. CHRON. Dec. 12, 1891.) The Manitoba guarantees both these issues, and the Great Northern assumes the guaranty. The Willmar tt Sioitx Falls bonds are endorsed with joint and several ~aranty of the Manitoba and Great Northern companies. Further ISsues may be made at $17,500 p. m. for additional road. V. 56, p. 247. Minneapolis Western first mortgage is for $1,000,000 and covers the· property and equipment of that company. The bonds are unconditionally guaranteed by the St. P. M. & M. and the .Gt. Nor. V. 60, p . 835. GENERAL FINANCES.-St. P. M. &M. consols 412s were listed in March .. 1897, for $925,000, issued on 61 miles of IJ1l=l.in track cou,pleted since· April, 1894. Last of the St. P. M. & M. first 7s paiit on June 1, 1897. As to new steamship lines to J apan, see V. 63, p. 153,189,402; V. 59, p. 152, 191. In year 1896-97 the Great Northern received $600,000 (12 p. c.), in 1895-6, $400,000 (being 8 p. c.) and in 1894-5 9per cent, in dividend on Eastern Ry. of Minn. stock. The strength of the company is largely in its low grades and consequent large train loads (in 1895·96 averaging 256 tons). EARNINGS.-St. P. M. & M. calendar year 1897 gross $16,691,071 .. against $15,771,859 in 1896. ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held• at St. Paul on the second Thursday in September. Ti:J.e annual report for 1896·97 was published in full in V. 65, p. 921, 927. See also editorial o. 904. The following taoles show (1) earnings of the System Proper, (2) the Gt. Northern income account, (3) the earnings of the whole system,. including Minn. Western, Duluth Term'l, Northern S. S. Co., Gt. No~ Express and Sand Coulee Coal Co. (1.) OPERATIONS GREAT NORTHERN SYSTEM PROPER. Year end. June 30. 1897. 1896. 1895. A.v. miles operated....... 4,415 4,374 4,374 Gross earnings .......... $19,436,061 $19,612,563 $16,530,424 Maint. of way, &c........ 3,133,293 2,324,294 2,364,752 Maint. of equipment..... 1,285,254 1,478,315 1,213,404 Transportation.......... 5,292,865 5,475,095 4,654,913: l:l-eneral....... . .. ... . . ... 990,460 953,004 953,847 Taxes..................... 602,648 632,837 543,635' ----- - -·- - Total expenses ....... $11,304,520 $10,863,545 $9,730,551 Netearnings .... ..•••.... $8,131,541 $8,749,018 $6,799,873P. c. of exp. &taxes...... 58·16 55·39 58·86 (2) GREAT NORTHERN RAILROAD INCOME ACCC,UNT. Year ending June 30. 1897. 1896. 1895. Net earns. St. P. M. & Man .•.. $6,318,445 $6,870,4-19 $5,504,262" [nterest on bonds owned...... 95,823 56,195 113,917 Dividends on stocks owned.... 1,000,548 403,631 731,631 Rentals of leased lines......... 187,256 220,254 228,640[nterest and exchange......... 73,557 21,9l2 Bills receivable................. 15,838 50,176 53,655 Other income . . . • . . . . . . . . . .. . . . 148,530 74,887 158,081 Total receipts .............. $7,837,997 $7,675,562 Pa.id rental St. P. M. & Man .. 5,380,729 5,383,016 Great Northern dividends .... (5)1,250,000 (5)1,250,000 ____ $6,B12,09S 5,372,590 (5)1,250,000- Balance .........•............. sr$1,207,268 sr.$1,042,547 sur. $189,508, MAP OF TIIE GREAT NORTHERN RAILWAY SYSTEM. Harney o ~ HarnevL. ql,Summer Lake t ,.._ 00 0) 00 rl ... ~ ~ <Ill p ~ ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis V A D A INVESTORS' SUPPLEMENT. 68 [ \101, LXVI. Subscribers -will confer a ~reat Cavor by giving hnmedlate notice of any error discovered in these Tables. RAILROADS. For explanation of column headings, &c., see notes INTEREST OR DIVIDENDS. Bonds-PrlllsolMiles Date Size, or Am unt pal,Whenl>ue. of of Par Outst~nding Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. on :first page of tables. ---------------------1 --- ---- - - - _____ ,_____ Green B~ & Weste1·n RR.- Stock, vidends after 212 p. c. on Class A, deb ... ....... Debentures, Class A, incomes, text, non-cum.. c,. ---· Class B, incomes, aftel' stock, non-cwn ....... c* .... Greene RR. ( N. Y.J-Stock ........................... ·--s First mortgage ........ .............. ............... Greenw.And.d!W.-lstM.,$12,000p.m.,g.(seetext) ...... Oul!,Beaumont d!K.0.-lst M., $10,000p.m.,gold.c 62 Gu f ci Ohicago--Stock .•.•.....•............•. ........ ~ d! Inttrstate Ry. of Texas -Bonds ............... --·· './ d! Ship Island-1st M.,$5,000,000, gold .M .. c . Han,cock d! Oaliimet-Stock ..••...•.•...•............ Consol. M. ($400,000) 01d, redeemable at 105 ... ·22 Hannibal d! St. Joseph,- ommon .....•....••....•... . Preferred ........................................... Consol. mortgage, now 1st mortgage ........... o• 2!}2 Fundinj notes...........•................ . ......... '54 0 8 54 t:r:ort~::i;!~11f{~ i'8~&~~-;~~1~P~~ifif1r Hartford cf Oonnecticut Western-Stock . ............ 109 1st mo~age .................•...•.••.•.•.......... 109 Hibernia ine RR.-Stock ...........•.............. 414 Hoosac Tunnel cf Wilmington.-Bonds, $250,000 g .. 2412 Housatonic-Bee NEW YORK NEW HAVEN & HARTF ORD. Hot St:ri~s-Stock, $1,000,000, authorized........ 1st ., 500,000, g,, $15,000 cancelled bys. f.o* ·22 Houst.East d! West Texas-Stock .•.........•...•...... 1st mortga e, gold, c. & r ..•.... ····:· ............ i92 54 Hous. cf Tex. ent. Ry.-Waco & No. Div. mort ..... Houst. d! Tex. Oent. RR.-Common stock ... ......... ·-,ii, State of Texa';J.rior lien on first 75 miles........ lstM.l.gr.,g.,r .110,int.gu.,$957,000 paid.. o*&r 453 0 --· 6 --· 8 (3) OPERATIONS OF WHOLE SYSTEM, Yearend.June30,'97. Gross. Net. 0th. inc. is96 1896 --·- 1872 1896 1893 . ... . ..... 1897 is9i $100 1,000 1,000 100 500 eoo,ooo up·to-5 7,000,000 ...6.. 200,000 200.000 7 1,200,000 5 g. 630,000 6 g. 400,000 1 p. c. in 00 500 100 . ..... ..100 ('I) 1892 1,000 100 100 1,000 10,000 50 500 &o. 100 1,000 100 1,000 i893 100 1,000 i893 1873 1,000 i870 1890 1,000 ---· issi 1894 is5s isss ·----- ··ioo ------ 5 5 g. 1,050,000 350,000 See text. 325,000 5 g. 9,168,700 See text. 5,083,200 See text. 8,000,000 6 50,000 6 1,182,550 7 700,000 4 2,705,600 2 700,000 5 200,000 6 176,000 5 g. 600,000 485,000 1,920,000 3,000,000 1,024,000 10,000,000 See text. 7,107,000 ..... N. Y., when earned. do do do do ··&·n . J. D.L.&W.o:ff.26Exch.Pl. J. & D. do do .... .... --·- .. F. & A. Boston, 12 Pearl St. J'ne,'97 Ripley, Miss. ----- J. & J. New York. New York City. ..&.. J. J. N. Y., Nat. Bank. Dec'ber. Boston O ce. do M:·&·· 8. N.Y.,Bk.ofNo.America. Ci;J; J. & J. Phlla.,Company'sO:fflce J. & J. do do F&A.31 Hartford. J. & J. do A. & O. See Central of N. J. M.& S. Bost.• Old Colony Tr.Co. - -..... --· ·-······ June·:·•'ij,j; 39' Dec. 1. 1902 1936 Aug. 1, 1913 June, '97, 1% 30 years. 1927 Aug. l,'96, 5% Jan. 1, 193\ Dec. 31, 1895 June 30'97,3% Moh. 1, 1911 Mar. 1. 1911 Jan.,'98,3Ig% July 1. 1913 At~i1°31,'97,1% J y 1, 1903 Oct., '97, 3% Sept. 1, 1922 Mch,'95 9 Mell. 27, 1895 5 g. J. & J. Mer. L. & Tr. Co., Chic. July 1, 1933 --·irs-. 7 . ..6.. M:·&-·N. J. & J ..... New York, Blair & Co. May·1;·i933 See text. July 1, 1903 Aniitiaiiy. Houston, Texas. 5 g. J. ··1·· J. N. Y., Central Trust Co. July 1, 1937 Harrisburg Portsmouth Mt . .Toy & Lancaster RR.-Owns Tot.net inc. from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Middletown, St. Paul M. & M. Ry .. $14,994,541 ·$6,318,445 $589,551 $6,907,996 Eastern Ry. of Minn.. 1,855,537 888,253 42,207 930,461 .Montana Central RY.. 1,930,652 600,665 2,221 602,886 Will. & Sioux Falls Ry. 616,088 331,154 def.r,952 329,201 Dul. Water.&Pac. Ry. __ ~242 . def. 6,977 _ _121 _!_ef_.0,8.56 Tot. Ry. sys. proper.$19,436,060 $8,131,540 $632,147 $8,763,688 .Minneapolis Union.... 240,169 195,369 202 195,!';71 Mim,eapolis Western* 63,364 33,595 10,007 43.601 Duluth Terminal...... 31,138 13,500 ...... 13,500 SS., coal & expr's cos. 1,965,494 131,999 22,565 154,564 Tot. for the system.$21,736,225 $8,506,003 $664,921 $9,170,924 From this last result ($9,170,924) are payable the total interest charge of all the companies, $5,182,208, and the guaranteed dividends on St. Paul Minneapolis & Manitoba stock, $1,200,000, a tot:.i.l of $6,382,208, leaving a balance of $2,788,716, from which have been paid dividends aggregatin~ $1,250.000 on the stock of the Great Northern Ry. Co.-(V. 63, p. 480. 498, 505, 1115; V. 64, p. 518, 610; v. 65, p. 824,904,921, 92'7, 1173.) Green Bay & WesternRJ.-RoadownedfromGreenBay, Wis., to Marshland, Wis., 209 miles; branches, 13 m.; trackage to Winona, 4 m. HISTORY.-A reorganization June 5, 1896 (per plan in V. 61, p. 471), of the Green Bay Wmona & St. Paul, sold in foreclosure May 12, 1896. SECURITIES.-There are no fixed charges on the property other than 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 entitled to 212 per cent interest, if earned, then common stock to 21.g p .c., then the two share ratably; but after 5 per cent has been paid on both, class B bonds are entitled to all surplus earnings. See V. 61, p. 471. EARNINGS.-Of old company for year ending Dec. 31, 1895, gross, $393,334; net, $68,188. In 1894, gross, $395,632; net, $49,829. DIRECTORS.-S. S. Palmer, President; Mark T. Cox, Secretary and Tre:1.surer, 40 Wall Street, N. Y.; C. Ledyard Blair, J. A. Jordan and W. J. Hunt. (V. 63, p. 652, 754, 922; V. 64, p. 134, 178.) Greene RR.-Owns road from Chenango Forks to Greene, N. Y., 8 miles. Leased to Delaware Lack. W. for term of charter for 6 per cent on stock and interest on bonds. Capital stock, $200,000; par, $10. Greenwood Anderson & Wflstern Ry.-Leased on Jan. 17. 1896, the Carolina Midland, but leat>e surl'endered March 4, 1897, and road was sold in December, 1897, for $15,000. Extension to Batesburg and Greenwood under construction, of which 9 miles to Alethea, S. C., was completed in DeceDJber. 1896. The bonde are authorized ror $1,512,000 (trustee Central TruRt Co.) Receiver is Channing M. Ward, Barnwell, s. C. V. 64, p. 82,287; V. 65, p. 869. GulCBeaumont& Kansas City Ry.-Beaumont, Tex., to Kirbyville, Tex., and bl'anches. 65 miles. Capital stock $500,000; par $100. First mortgage is for $750,000. Car trust notes due June 30, 1900, $16,472. EARNINGS.-Year endin~ June]30, 1897, gl'OSS, $116,051; net, $57,188; other income, $3,715; interest, etc., $40,149; balance, surplus, $20,754. In 1895-6 gross, $83,613; net, $45,208. General Office, 12 Pearl St., Boston. In New York see J.C. Chew, fl.seal agent, 37 Broad Bt. V. 63, p. 880. GulC & Ship Island RR.-Road runs from the Gulf at Gulf Port to Hattiesburg, Miss., 71 miles; branch to Handsboro, 4 miles; total 75 miles; ralls, 60 lb. on 51 miles and 56 lb. on 20 miles; Organized in 1882 and 20 miles wer~ built about 1888; 55 miles were built in 1895-96. Capital stock, $1,400,000. Receiver discharged in Sept., 1896, and road to be completed by the Bradford Construction Co.-V. 63, p. 559. Land ~rant about 150,000 acres. Trustee of mortgage is Manhattan Trust uo., N. Y. President, J. T. Jones; Treasurer, W.W. Bell; Main office, Gulfport, Miss.-V. 63, p. 357, 559, Hancock & Calumet RR.-Owns narrow-gauge road Hancock to Fulton, Mich., 24 miles: branuhes, 7 miles; total, 31 miles. Stock, $350,000; par $100-$250,000 owned by Mineral Range RR. DIVIDENDS.-In 1893, 5 p. c.; in 1894, 212 p. o.; in 1895, Feb., 212 p. o.; June, 5 p. c.; in 1896, Feb., 5 p. o.; Aug., 5 p. c. In year ending June 30, 1896, gross, $200,769; net, $96,002; interest and taxes, $21,040; dividends, $17,500; balance, surplus, $57,462. Hannibal & St. Joseph RR.-Owns Hannibal, Mo., to Bt. Jos. eph, Mo., 206 miles; branches-Cameron to Kansas City, 53 miles; St. Joseph to Atchison, Kan., 20 miles; Palmyra to Quincy, m,ete.,15 miles; loa11es, 3 miles; total operated, 295 miles. Owns bridge at Kansas Citv. ATOCK,-Chto. Burl. & Quincy owns $14,244,900 stock. Preferred entitled to 7 p. o. non-cumulative; then common to 7; then both share. DIVIDENDS.-1 '90. '91. '92. '93, '94. '95. '96. '97. Common. p. c.. O O 0·7 2·3 2·2 7 o o Preferred, p. c. abt. 2 6·82 7 7 7 7 6·54 3 See description of mortgage lien in October, 1896, SCTPLEMENT, p. 2. EARNJNGS.-In 1896, gross, $2,431,035; net, $816,082; other income, $5,962; interest, etc., $48!-l,157; dividends, $332,441 ; balance, surpl':s for year, $446. I~. previom1 year's s_urplus for dividends has been . In 1895, $507,552, m 1894, $592,558, ln 1893, $646,871. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $2,500,000 Pa.., to Columbia, Pa., 18 miles; total operated, 54 miles. Leased to the Pennsylvania RR. Co. for 999 years from January 1, 1861, the rental being 7 per cent on the stock and interest on the bonds, taxes and expenses of organization. Stock, $1,182,550; par $50. Harteord & Connecticut Western Rf.,-Owns from Hartford. Conn.t to Rhineoll:ff, N. Y., 109 miles. Leased till August, 1939, to the Phllaaelphia Reading & New England, the rental paying charges and 2 per cent per annum on the stock. There were in April, 1897, $24,000 Conn. Western RR. 7 per cent bonds due 1900, convertible into stock at 60 per cent. In February, 1897, it was praposed to issue a new mortgage for $1,500,000, of which $700,000 to retire first 5s at maturity and balance for construction of branch, 17 miles, frorr. Tari:ffville to West Springfield, Mass. Of the stock $1,390,000 is pledged by the lessee under its mortgage. V. 64, p. 423. Hibernia Mine RR.-Owns from Rockaway, N. J., to Hibernia. Mines, N. J ., 414 m. Leased to Cent. of N. J. in 1890 for $12,000 per an Hoosac Tunnel & u llmington RR.-NARROW GAUGE.Owns road from Hoosac '.fun11el, Mass., to Wilmington, Vt., 2412 miles. Capital stock authorized, $250,000; par $100. Mortgage trustee, Old Colony Trust Co., Boston. Bills payable June 30, 1896, $72,634. Bonds in treasury, $74,000. Earnings for year 1895-96, gross, $56, 147; net, $17,770; other income, $659; charges, $15,G41: dividends (1 p. c.), $2,500. In 1894-95 dividends (1 p. o.).; in 1896, Dec., 1 p. o.; in 1897, Dec. 31, 2 p. c. Hot Sprln~s RR.-Road from Malvern to Hot Springs, Ark., 22 miles, opened m 1875. Mortgage trustee, Merchants' L. & T. Co., Chicago. Year ending Dec. 31, 1894, gross, $~82,445; net, $85,497; interest, $24,800; dividends, $54,000. In 1893 gross, $189,107. Houston East& West Texas Ky.-Owns l'romHouston, Texas to Sabine River at Logansport, 192 miles, where it connects with the Houston & Shreveport RR., Logansport to Shreveport, 40 miles, forming a direct line from Houston, Tex., to Shreveport, La., 232 miles. BONDS, ETc.-Reorganized in .August, 1896, without foreclos ure. Tbe plan provided for a reduction or the tlrst mortgage bonds from $3,840,000 then outstanding to $2,112,000, reducing the annual interest charges from $192,000 to $105,600. The authorized issue of fl.l'st mort~age bonds limited to $3,000,000, $888,000 bonds being re served in the hands of the reorganization committee for bett.erments improvements and expenses of the reorganization. ANNUAL REPORT.-For year ending June 30, 1897, gross, $571,150 net, $136,833; taxes, $15,637; balance for interest, $121,196. Annua. interest charge, $105,600. In 1895-6, gross, $518,489; net, $134,137 taxes, $11>,139. Directors (elected Jan. '1)7): James A. Blair, J. B. Den nis and Edgar L. Marston of New York: Joel A. Sperry of New Ha.vend, Conn., and T. W. House, J. A. Baker, Jr.. C. Lombardi, Sam Allen an M. G. Howe of Houston. (V. 63, p. 267,269; V. 65, p. 822,824. Houston & Texas Central .BailwwiJ.-The Waco & Northwest ern division, Bremond to Ross, Tex.• 54 miles, was not included in the reor~anization of the H. & T. C. Ry., but was sold under !ol'eclosure separately in 1895 to Southern Paoifl.o interests. The purchase money $1,505,000, was never paid, however, and suit has been brought by the Texas Central RR. to compel payment. The foreclosure sale cov ered road and 230,000 acres of land. In Nov.. 1897, the Court at Gal veston ordered the payment of the balance of the purchase money see V. 65, p. 1025. It has been proposed to consolidate the H. & T. C Railroad, the Waco & Northwestern and the Texas Central RR. if terms can be agreed upon. See V. 64, p. 707. Houston & Texas Central Railroad.-(See Map o.f Southern PaciftcJ-Owne from Houston, Texas, to Denison, Texas, 338 miles Hempstead, Texas, to Austin, Texas, 114 miles; total owned, 453 miles Also operates Fort Worth & New Orleans Ry., Garrett to Fort Worth 40mlles; Central Texas&N. W., 12 m.; Austin &N. W., 107; other,4m HisTORY.-Successor April 11, 1893, to a railway company fore closed Sept. 8, 1888. Reorganization plan V. 45, p. 792, 820. Con 13olidation of Texas Central,Waco &Northwestern and H. &T. C. is pro posed-see H. & T. C. Railway above and V. 64, p. 707. BoNDs.-The bonds are being gradually reduced with proceeds ot land sales. The first mortgage was for $8,634,000, of which $570,000 l'eserved against claim of State of Texas upon 75 miles of the road The Southern Pacific Company guarantee! interest on all the bonds and both principal and int. of debentures of 1897. The first mortgage bonds and the consolidated mortgage bonds may be called for redemp tion at 110 with proceeds of land sales. See full abstracts of all tlie mortgages in V. 52, p. 242. Ofthe$5,068,000consolidated 6s authorized $1,149,000 (not included in the amount outstanding above) are held as pa.rt security for the general 4s. Trustee of general mortgagP is Metro politan Trust Co. of N. Y. The debentures for $1,116,420 (6s and 4s fell due Oct. 1, 1897, and $600,000 were extended at 5 p. c. until 1902 -V. 65, p. 412,463. For status of old claims of the school fund, State of Texas, see V. 64, p. 1137. Appeal taken. LANDS.-The lands June 30, 1897, consisted for first mortgage of 2,210,144 acres; consol. mortgage, 1,465,958 acres; general mort• gage, 12,996 acres. Deferre~ payments were: For 1st mort., $194,288 consol. mortgage, $160,998, general mort., $1,158. V. 65, p. 869. JA.N1.7A.RY, RAILROAD STOCKS AND BONDS. 1898,] 67 Subscribers will conCer a great favor by giving immediate notice of any error discovered in these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds--Prinoi For explanation of column headinirs, &c., see notes M~\es Di;e Si~aror A.mount Rate Per When Where Payable and by O d on first page of tables. Road. Bonds Value. utBtau ing Cent. Payable Whom.' Divid;nds. P;}~~!rnfa~f· Houston~ Texas Oentral RR -( Ooncluded.J- 453 453 Con.M.,l.g.,g.,red.at 110,int.gu.,$464,000 J?d.c*&r Gen. mort.,gold,int.~ar.,end.,$8,000 pa1d.c~&r Deben., p. and i. gu. o. Pac., end., currency.<•*&r Hud, Highland Bdg. ~ Railway.-Stock .... ........ Huntingdon~ Broaa Top-Common stock ... _...... Preferred stock, 7 ~er cent, non-cumulative ... ... 1st mort,, extende in 1890 (int. only in l{Old) ... 2d mort., old 7s, extended in 1895, p. & i., gold). 3d mortgage, consol., ext. in gold in 1895 ...... c* Con. car tr., $680,000issued; $68,000 due Oct. l. Hutchinson~ SQuthern-(See text.) Rlinois Central-Stock ........... .•.......... -.... Leased line 4 per cent stock, guar. (see remarks.) t \8~ t t { Bt.erllng bds. old 6s ext. In 1895} 0 rt ·fgr Sterl.of'03,£10,000dr'nyrl.c* 4 $15 000 000 Sterlin! bonds, due 1905 ....... seoth-es' all 4s of 1 86, due 1951, gold .... c* 11 312s of 1886, due 1951, gold .. c* equa Y- •••• 3s of 1895, due 1951, gold.o*&r Trust bonds sterl. (seoured by Ch. St.L.&N.O.cons.) 1st M.,Spr~.Div. ref. m.,$2,000,000 g.Us.xc*&r 1st M., Mid e Div.,Otto to Norman June. & brs.r Collateral trust bonds, gold,$ ..•............. .. c* Cairo Bridge bonds, gold (see remarks) ...... c*&r Col. trust. $25,000,000, gold, on L. N. 0. & T .. c*&r Wester~ lines, 1st ~'-lfold (1:1ee text) ..._...... c:&r St. L. Div. & Term 1 ., $10,000,000 l:s ... xc &r Do $5,000,000 (See V. 65, p. 1173) ...... Us.x Louisv. Div. &Term. M.,$25,000,000,g.Us.xc•&r Col. trust, gold, :J-lOs (red. at 100) ........ . c*&r ··-· .... . 63 63 63 63 63 .... .... .... 7;~1 ffi 131 857 798 218 239 396 I .... $1,000 1,000 1,000 100 50 50 500 500 1,000 1,000 1890 1890 1897 ---- is54 1857 1865 1896 -----100 .... ---· is75 1874 1875 1886 1886 1895 1886 1897 1881 1888 1890 1892 1894 1897 1897 lfl97 1894 l LATEST EARNINGS-11 mos., 51897 .. Gross, $3,309,717; net, $983,003 Jan. l to Nov. 30. <1896 .• Gross, 3,342,J 79; net, 1,024,048 Fiscal year changed in 1897 to end June 30. Report for year ending June 30, 18~7, was 1-{iven in V. 65, p. 866, showing gross. $3,206,572; net, $1,0:.r n,432; other income, $24,114; interest, $805,845; taxes, $72,273; miecellaneous, $45,544; balance, surplus, for year, $132,884. In 1895-96, gross, $3,143,305; net, $1,035,765.-(V. 64, p. 707, 1137, v. 65, p. 412,463,8 66,869,976, 1025. Hudson Highland Bridge & KaUway,-Successor in March, 1896, to the Hudson Suspension Bridge & New England Ry., whioh was chartered in 1868 to construct a suspension bridge over the Hudson River near Peekskill, N. Y. Capital stock, $84,900, with right to increase. No bonds issued to October, 1896. V. 62, p. 457. Huntingdon & Broad Top Mt. RK, & Coal Co.-Owns from Huntingdon, Pa., to ~fount Dallas, Pa., 45 miles; branches, 18 miles. DIVIDENDS .••••• 88. '89. '90. '91. '92. '93. '94. '95. '96. '97, On oomroon.... O O O 2 4 5 5 412 4 Feb., 1 p. c. On preferred... 5 5 512 7 7 7 7 7 7 6 On common in 1897, Feb., 1 per cent; August none; on preferred n 1898, Jan., 212 p. c. SECURITIES.-The consolidated car trusts of 1896 for $680,000 replaced all other car trusts and reduced fixed charges, it is said, by $40,000. They cover 2,405 cars; $68,000 trusts mature yearly on Oct. 1 in the order of their numbers, b eginning with lowest. ANNUAL REPORT.-Report for 1896 was given in V. 64, p. 326. Net. 0th. income. Inte1·est. Divid'nds. Balance. 1896 ... $583,362 $299,212 $.... .. $106,190 $181,151 sur.$11,871 1895 . . . 648,004 352,021 ...... 110,650 200,872 sur.40,499 1894 . .. 580,718 312,779 1,032 117,635 207,678 def.11,502 lV. 62, p. 232, 277, 316; V. 63, p. 402; V. 64, p. 326, V. 65, p. 111.) Hntch1nson & Southern Ky.-From Hutchinson, Kan., to Medford, 0. T., 102 miles. Extensions to Blackwell, 25 miles, via Guthrie, under construotion. Sold in foreclosure Jan. 14, 1898. (V. 66, p. 183.) Successor in Jan., 1898, to Hutchinson & Southern Railroad, sold in foreclosure. Capital stock, 3-7,000,000. Year ending June 30, 1897, old company earned gross $83,169; deficit under oper. exp. and taxes, $~1,292. Directors.-L. E. Walker. W. M. Whitelaw, J. A. S. Groves, E. B. Sherman, and President, W. A. Bradford, Jr. (V. 61, p. 184; V. 65, p. 1220; v. 66, p. 82, 183.) Illinois Central KK,-(See Map.)-ROAD.-Operates from Chicago, Ill., southerly to New Orleans, La., 912 miles, and westerly to Sioux City, Ia., 509 miles, with numerous branches. Its road, clearly shown on the accompanying map, is made up as follows: ('ITwhich see.) Road owned in fee. Miles. , Entire stock owned. Miles. Chicago to Cairo, Ill. . { Main} 365 Branohes...................... 819 Centralia, Ill., to East stem Leased.-Oontrol owned. Dubuque, Ia........ · 341 Dubuque & Sioux City ,r, .... 600 Leased, entire stook owned. St. Louis Alton & Terre H. ,r. 239 Chicago St. L. & N. 0. RR. Leased. Cairo, Ill., to New Orleans. 547 Louisv. Br leased from L. Line to Louisville, etc .... ? 396 & N . ............... . . . . . . . . 46 (0. 0. & S. W. & br'chea) .. ~ Chicago & Texas (Sept.'97.... 80 Evansv. Line (Ohio Val. I{R . 118 -Mem., Ten. 1 to Grenada.Miss. 100 Total operated .. ......... .4,574 Yazoo & Mississippi Val. RR. ,rMemphis toN. O. and brs. 923 NOTE.-On June 30, 1897, the company reported 3,130 miles inoluded in earnings, but this did not include 807 miles of Yazoo & Mis1:1, Val. (in 923 miles above\ earns. ou which are reported separately below, nor the miles or t:. O. & S. W. road, nor Ohio Valley, 118 m., acquired July 31, 1897; nor Chicago & Texas (acquired Sept., 1897), 89 miles. HISTORY, LEASES, &c.-Chartered in December, 1850. The company pays to the State of Illinois 7 per c,mt (in 1896, $1,051,358) of ~ross of the 706 miles owned in fee yearly in lieu of.taxes. The Chioago St. L. & N. O. ts leased for 400 years from July 1, 1882, at4percentpera1.1uum on its $10,000,000 stock deposited to secure the leased line stock. In1892 practically all the stock and bonds oftheLouisv. New Orleans & Texas (807 milf's), were acquired, and the company merged in the Yazoo & Mississippi Valley, making 923 miles, as above. A lease of the St. Louis Alton & Terre Haute syRtem was taken in April, 1896, V. 62, p. 636,684. In May, 1897, the Chesapeake Ohio & Southwestern and allied lines were merged in the Chicago St. Louis & New Orleans, forming the Louisville Division. CAPITAL STOCK.-The leased line stoclc is secured by deposit of $10,000,000 Chioago St. Louis & New Orll\ans stock, and in case of default for sixty days in the payment of any semi-annual dividend of 2 per cent, the stocktlolder is entitled to his share of the stock pledged. Authorized capital stock $60,000,000, having been increased from $50,000,000 in November, 1895. DrvmENDS. <1885. '86. '87. '88. '89. '90. '91 to Mar. '98, incJ. Oommonstock. 5 8 p.c. 712 7 7 512 6 5 p. o. yearly. BONDS.-Main Line $15,000,000 mortgage of 1874 covers property described in V. 63, p. 76. Oairo bridge bonds are secured by deposit of a like amount of IJhicago St. Louis &New Orleans 1st M. Cairo Bridge 5s. The rental for the bridge is $180,000 in gold annually, of which https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I M: 52,50(),000 5 iJ:i..i897 ·&:. 8. N. Y., 214 B'way & Lon. 100 10,000,000 4 J. & J. N. Y., 214 B'way & Lon. £200 2,498,000 4 g. A.. & 0. London. £200 3,400,000 5 g. A. & 0. London,Morton,R.& Co. £200 1,000,000 5 g. J. & D. do do 1,000 1,500,000 4 g. J. & J. New York, 214 B'dway. 1,000 2,499,000 312 g. J. & J. do do £200 £500,000 3 g. M. & S. London. £200 $5,266,000 312 g. J. & J. London, Baring Bros. 1,000 2,000,000 312g. J. & J. New York, 214 B'dway. 1,000 968,000 5 F. & A. do do 500 &c. 15,000,000 4 g. A. & 0. do do 1,000 3,000,000 4 g. J. & D. do do 500 &o. 25,000,000 4 g. M. & N. do do 1,000 5,425,000 4 g. F. & A. do do 500 &c. 5,000,000 312g. J. & J. 1st coup. due Jan. 1,'98 1,000 5,000,000 3 g. J. & J. do do 500 &c. 10,000,000 312 g. J. & J. do do 1,000 6,280,000 4 g. J. & J. New York, 214 B'dway. - Gross. $3,455,000 6 g. A. & 0. N. Y., Central Trust Co. 4,297,000 4 g. A. & 0. do do 600,000 5 A. & 0. do do 84,900 1,371,750 liJ:i..iS!:}7 ::::: Phil.Of.,4th&WalnutSt. 2,000,000 6in 1897 Semi-an do do 416,000 4 g. A. & 0. do do 367,500 4 g. F. & A. do do 1,497,000 5 g. A. & 0. do do 612,000 5 A. & 0 . Phila.,Merchants'Trust Oct. 1, 1912 Apr. 1, 1921 Oct. 1, 1902 Feb:·s/07: 1% Ja.25,'98,212% Sept. 30, 1920 Feb. 1, 1925 Mch. 31. 1925 Oct.1,'98-1906 Mar.i.,"•9·s;212~ Jan., '98 , 2% Apr. 1, 1951 Apr. 1, 1903 Dec. 1, 1905 Jan. 1, 1951 Jan. 1, 1951 Mar. 1, 1951 July 1, 1950 Jan. 1, 1951 Aug. 1, 1921 Apr. 1, 1952 Dec. 1, 1950 Nov. 1, 1953 Aug. 1, 1951 July 1, 1951 July 1, 1951 July 1, 1953 Jan. 1, 1904 $30,000 goes to a contingent and sinking fund till 1902, then $20,000 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 St. L. & N. 0. oonsols of '81, and are to be included in any new mortgThe collateral t1-ust bonds of 1952 are secured by pledge with the U. S. Trust Co. of New York of $16,~50,000 5 per cent 1st mortgage gold bonds of subsidiary railroads covering 854 miles. See list, V. 55, p. 550. The $25,000,000 collate1·al trust bonds of 1953 were issued on pledge of the Louisv. N. 0. & Texas securities purchased in 1892. Trustee o 1. deed, U. S. Trust Company. All the $16,832,000 L. N. O. & T. 1st mortgage bonds, all the $904,000 second mortgage incomes and all but $96,000 land grant income bonds were ownecl by the Illinois Central July 1, 1897, and pledged to secure this loan. See adv. CHRO ,. ICLE, June 11, 1892, and V. 54, p. 964; V. 61, p. 112. The collateral trust bonds of IQ04, (United States Trust Co., Trustee,) and their collateral were described in V. 62, p. 988. For the Ohicago St. Louis & New Orleans the lessee guarantees the principal and interest of all the outstanding bonds prior to the 5s of 1881, and by an endorsement on the latter bonds guarantees the 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 are pleged as security for the Illinois Central trust bonds of 1886. The 312s of 1897 are guaranteed, p. & i., by endorsement-see form of guaranty in V. 65. p. 1071. Illinois Central owns entire $10,000,000 capital stock of C. St. L. & N. 0., which iR held in trust for the Ill. CentJ al leased line 4 p. c. stock. (V. 65, p. l 071.) The Sprin.:::field Division 6s maturing Jan. 1, 189'3, are to be extended at 3¼ per cent-See V. 64, p. 952. Tl:.e Western Lf,nes loan of 1894 is for $10,000,000, but only $5,425,000 can now be issued upon the road from Dubuque to Iowa Falls, 142 miles, and Cedar Falls to Minn. State line, 76 miles. The bonds are direct obligations of the Illinois Central, but are secured by a first mortgage given by the Dubuque & Sioux City on the portion of its road above named. The remaining $4,575,000 bonds can be issued only when the road from Iowa Falls to Sioux City, 184 miles, now subject to $2,800,000 of Iowa Falls & Sioux City bonds due in 1917, shall be trans- ferred to the trustee without any encumbrance. Trustee, United States T1·ust Co. Sinking fund, $46,733 yearly, out of earnings, is :provided fo:r in the lease of Dubuque & S. C. to Illinois Central, but 1s not mentioned in mortgage on Western lines; bonds cannot be called. The St. Louis Divisional & Terminal bonds are direct obliga,tions of the Illinois Central RR. ancl are secured by a mortgage made jointly with the St. Louis Alton & Terre Haute RR. Co., covering the St. Louis division, which extends from East St. Louis to Brooklyn, opposite Paducah, Ky., and to Eldorado, Ill., with branches, 239 miles in all, together with real estate in East St. Louis, etc. Of the $15,000,000 authorized, $5,000,000 are tlwee per cents issued to retire the $5,000,000 interim certificates (see V. 65, p. 1173,) for St. Louis Alton & Terre Haute, etc., stock (per offer in V. 62, p. 684), and which, in fact, represent funded rent for the property. The remainder ($10,000,000) bear 312 per cent interest; $6,500,000 were authorized to be issued in exchange for the first mortgage bonds of the St. Louis Company's system at not exceeding $1,080 01' new for $1,000 of existing bonds (of said existing bonds $2,231,000 have already been paid and $2,500,000 fall due June 1, 1898-see tab-le), and $3,500,000 are issuable for improvements, equipment, etc., the Illinois Central agreeing to take up with these all the income bonds and consols of the St. Louis Company. United states Trust Co. is mortgage trustee. See abstract of mortgage in v. 66, p. I 38. See also V. 66, p. 133. The Louisville Division & Te1·minal mo1·tgaqe of 1897 is for $25,000, 000, of which $5,000,000 may be issued only for future betterments and new property. The mortgage covers the road from Elizabethtown, Ky., via Paducah, Ky., to Memphis, Tenn., 351 miles; Owensboro branch, 42 miles, and Short Route Ry. Transfer, 112 miles, making a total of 39412 miles owned and 4512 miles to Louisville leal'ed from L. & N. Of the loan $6,800,000 are reserved to retire the $4,806,000 coll. trust two-ten boncls; $1,112,000 to purchase the 46 miles (Cecilia brach) from L. & N. and to r etire the L . & N. bonds thereon; $5,000,000 for new acquisitions, additions or extensions, and the balance of the $20,000,000 issuable forthwith for expense of acquisition, etc. Tbe Chicago St. Lows & New Orleans, which took title to the Louisville Division, joins in making the mortgage securing tbe loan. See V. 66, p. 136, for abstl·act of mortgage. (V. 65, p. 367, 516; V . 66, p.133.) GENERAL FINANCEA.-Oapital stock for $2,500,000 (of the $10,000,000 authorized in December, 1895), was sold at par early in 1896. In May, 1897, arrangements were made with Kuhn, Loeb & Co. and Vermilye & Co., covering the sale of $20,000,000 C. 0. & S. W. new 312s, and $10,000,000 St. Louis Division 3½.s, of which $6,000,000 were to be issued at once. The company also sold $1,350,000 C. St. L. & N. O. consol. mort. bonds, interest reduced to 312 per cent, issued Nov. 1, 1897, in lieu of 7s maturing on that date, and renewed at 312 per cent the $2,000,000 Springfield division bonds maturing Jan. 1, 1898.-V. 64, p. 952; V. 65, p. 415. EARNINGS.-5 mos., 51897 ..... Gross, $11,509,057; net, $3,597,918 July 1 to Nov. 30. { 1896. _... GrosA, 9,312,727; net, 2,642,694 St. Louis Alton & Terre Haute not included in 1895 for the three months from July 1 to October 1. ANNUAL REPORT.-Fisca.l year ends June 30. Annual meeting is held at Chicago the third Wednesday in deptember. Report for 1896-97 '!T a.s ~TORS' SUPPLEMENT. 68 [VOL, LXVI. Subscribers -will conf'er a ,:reat f'avor by giving lm.m.edlate notice of' any error dl11covered In the11e Table•• Bonds-Prinol INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Amount Rate per When Where P-w;.able, an(I by pal,When Due of Par Outstanding For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. Cent. Payable om. on first page of tables. Dividend. --- Illinois Oentral-( Ooncluded)- $80,000 Chicago St. Louis & New Orleans, 2d morwage .. 567 1877 all,289,000 Consol. M. ($1~,000,000), gold. (see text).o*&r 567 1881 1,000 1,359,000 1897 Do for refundi~, guar. p. & 1. ••.••••••• . •••. 567 1,000 3.500,000 Me~his Div. 1st ., ~ld, guar. p. &i. (end.) .ck 100 1889 St. Lo s Alton & Terre aute common stock .. .. Mostl V held bylllin ois Central. 1,000 14 1894 2,500,000 1st M. & ter., g., called for June 1,'98,at 105.o*&r Bonds assumed by St. Louis Alton & T. Haute. 1,000 17 1883 485,000 Bellev. & Carondelet, 1st M.,Belle. to E. C. ,gold.o' 1,000 103,000 51 1880 Bellev. & El Dor., 1st M. (l.C.owns $100,000)o* 51 1880 All held by Illinois C 2d M.,inc.,Du Quoin to Eldora. ($330,000 6s.c* 1,000 550,000 30 18e6 St. Louis Southern., 1st mort., gold . ..... . .... c* 30 1886 All but $6,000 held 2d mortgage, incomes, $122,000 5s .......• . o* 1,000 250,000 17 1887 Carbondale & Shawneetownn 1st M., ~old .. o.. 30 1894 All h eld b y Illinois C St. L. Sa. consol., gold $403,000 issue . .... c* 53 1887 Held by Ill. Uentra l. Ch. St.L.& I'aduc. 1st M., g., $1,000,000, .c* 53 1887 All but $1,000 held 2d M., gold, incomes (non-cum.) $1,000,0 O•• c* 1,000 1,824,000 Indiana Decatur <I& West.-lst M., Yc', red. at 110.c* 152 1895 1,000 1889 800,000 118 Indiana Illinois ti: Iowa-lstM., go d, red. at par .. o* 500 457,500 1st and 2d inc.Ms. ($250,000 each) 4 p.o.non-cum.r 118 1889 1,000 1893 500,000 35 1st Ext. M. ($500,000) fold, red. at 105 ........ c" 1,000 480,000 40 1889 Ind. ti: L.Mich.-lst M., $ 2,000 p. m., gold, guar.c* 1,000 93 1886 955,000 Zndianapolis Un.-lstm., g,, s. f. not subj.to call.c* 1,700,000 Indianapolis& Vincennes-lstM.,~ar.p.&i. (end.)c 133 1867 1,000 1,000 1,400,000 2d M., ~a.rail.teed p. & i. Penn. R . Co. (end.) .... c 133 1870 .lnternatwnat ti: Great Northern-1st mort., gold .... 776 1879 300 &c. 7,954,000 1 ro· --a In addition $5,266,000 consol. 5s are pled~ed t o s ecu re Total earnings ............. $22,110,938 $22,002,842 $19,056,994 Operating expenses .......•. . ... $15, 735,884 $14,962,276 $13,268,531 68·00 69·63 P. ct. op. expen. to gross earns 71·16 ---- Net earnings ...............•.... $6,375,054 2,110,756 53,440 $7,040,566 1,832,678 85,786 $5,788,463 1,519,409 123,033 Total receipts ......•.....•.. $8,539,250 Interest on Ill. Central bonds .. $3.189,972 Int. on Chic. St. L. &N. 0. bonds. 1,217,680 Rental Dub. & Sioux City RR.. 531,193 Net rental St. L. A. & T. H..... 340,627 Dividends on Ill. Central stock 2,625,000 Dividends on Leased Line stock 400,000 Miscellaneous................... 81,225 $8,959,030 $2,932.808 1,218,040 950,4.63 290,811 2,562,500 400,000 81,181 $7,430,905 $2,757,845 1,217,840 471,379 Ba.lance, surplus............... $153,553 $523,227 YAZOO & MISSISSIPPI VALLEY.-Resnlts on 807 miles: $2,916 Net receipts from interest, &c. Mlscellaneous............. ...... 0 Gross. Net. 18ll6·97 . ... $3,936,513 $1,260,897 1895-96 .... 3,529,625 1,191,291 189!-95 .... 3,331,335 951,068 1893-94 .... 3,338,860 969,399 2,500,000 400,000 80,925 Ot4er inc. *Interest, etc. Bat. sur $67 6Q 4,555 4,230 $690,523 690,523 693,722 754,495 J. & D. N. Y., 214 Broadway. Dec. 1, 1907 Jr5&D,5 do do June 15, 1951 JI5&Dr5 do do June 15, 1951 J . & D. do do Dec. 1. 1951 J. & J. do do Jan., '98, 118% J. & D. do do June 1, 1898 6 g. J. & D. do do 7 J. & J. do do en tral. 4 fl, M.& s. N. Y., Mercan. Tr. Co. b y Ill.Ce ntra l. 4 g. M.& S. N. Y .. Mer e. Trust Co. entral. 8. Bonds mat,-d;all own'd. 5 fl. by Ill. Ce ntral. 5 g. J. & J. N. Y., Central Trust Co. 4 g. J. & D. N. Y., Metropol. Tr. Co. A. & 0. do do 4. 5 g. M. & S. do do 5 g. M.& 8. Mar., '96, coup. last pd. 4lgg. M.&N. Phila., Fidelity Trust. 7 F. & A. N. Y.,Farm.L.&Tr.Co. M.&N. 6 do do 6 g. M.&N. N.Y., office, 195 B'way. ...... M:·&: · June 1, July 1, Ang. 1, Sept. 1, Sept. 1, Mch. 1, Sept. 1, Sept. 1, Sept. 1, Jan. 1, Dec. 1, Dec. 1, Mar. 1, Sept. 1, May 1, Feb. 1, May 1, Nov. 1, 1923 191 0 1920 1931 1931 1939 1939 1897 1917 1935 1939 1939 1943 1939 1926 1908 1900 1919 Ill. Central coll. trust bt> n ds of 1 886. published at length in V. 63, p. 409, 414. See also editorial, p. 394· The following does not include Yazoo & Mississippi Valley-which see below, but does include the St. L. Alton & T . H. since Oct. 1, 1895: 1895. 1896. Year ending June 301897. 3,127 2,888 Miles operated. . .. . .. . .• . . . . .. 3,130 $3,908,348 $4,394,771 Passenger earnings...... . . . . . . $4,214,461 12,821,211 Freight earnings ............... 15,162,019 15,028,104 2,327,435 2,579,967 Mail, express & miscellaneous 2,734,458 Year- 6 5 g. 3 12g. 4 g. 214 5 g. i".ooo $570,441 500,837 261,901 219,134 "Loss on sale of securities, $3,200 in 1894·5 and $59,500 in 1893-4 ST. Lours ALTON & TERRE HAUTE RR.-FOTID.B the .. Cairo Short Line" route from East St. Louis, across the coal fields of Southern Illinois to Brooklyn, opposite Paducah, Ky., and to Eldorado, Ill., with branches, a tota l mileage of 239 miles. LEASE.-This road was leased in April, 1896, tor 99 years from Oct. 1, 1895, to the Illinois Central RR. Co., which guaranteed 214 per cent per annum on the stock-practically all owned by Ill. Cent. V. 62, p. 636. Since that time the Terre Haute Co. has acquired the full ownership of all the six leased lines, namely, the Belle. & So. Ill., the Belleville & Eldorado, the Belleville & Carondelet, the St. Louis Southern the Carbondale & Shawneetown and the Chicago St. Lotti & Paducah, and has absorbed them by consolidation. A supplementa l lease for ninety-nine years from October 1, 1895, was made Sept. 15, 1897, by the Terre Haute Co. to the Illinois Central Co., and these two companies simultaneously have mortga~ed all their interest in the properties to secure the new St. Louis Di vis10n & Terminal bonds. The supplementa l lea e provides for the payment of an annual renta l of 214 per cent per annum on all stock of the St. L.A. & T. H. which m a v n ot be deposited under the mortP-a.ue As to amounts of the several issues of bonds owned by Illinois Central on Jan. 1, 1898, see table above and V. 66, p. 138. BoNns.-The .first mortgage bonds of 1894 have b een ca lled for redemption June 1, 1898. The $1,000,000 C. St. L. & P. first 5s were paid by Illinois Central at 105 on Sept. 1, 1897, and the $1,100,000 Belleville & Southern Illinois bonds at par on Oct. 1. 1897. Earnings since Oct. 1, 1895, included in Illinois Central reports were . OFFICERS.-(Elected in December, 1895) : Presirlent, M. D. Woodrord Vice-President, Henry F. Shoemaker.-(V. 64, p. 41, 953; V. 65, p. 27. Indiana Illinois & Iowa KR.-Owns from Streator Junction, ID., to South Bend, Ind., 152 miles; other, 6 m.; total operated 158 m.; trackage (Wabash Railway) into Streator, l ·70 miles; (Ch. & W. M.) La Crosse, Ind., to New Buffalo, Mich., 38: (Chic. & E. Ill.) Wheatfield to La. Crosse, Ind., 13; (Kan. & Sen. RR.) Kankakee to Seneca, Ill., 38 miles; total of all, 249 miles. SECURITIES.-Btock, $3,597,800; par, $100. Equipment notes June 30, 1896, $:)6,661. The 1st and 2d incomes, as well as the 1st 4s, are subject to call at par and interest after 30 days' notice. The 5 per cent• of 1893 are a first mortgage from Knox to South Bend (Ind. Ill. & Iowa Railway Co.), and a. consolidated mortgage on main line. EARNINGB.-5 months, 5 1897 ...•....... Gross, $294,527; net, $62,653 July 1 to Nov. 30. { 1896 . .......... Gross, 280,125; net, 49,830 EARNINGS.-In year end.June 30,'97, gross,$786,131; net, $234,109 interest, taxes, rentals, $108,394; construction and imrovements, $117,384: balance, surplus for year, $8,331. In 189-1-5 gross, $739,618; net, $177,630. President, F. M. Drake, Chicago, Ill.; Vice-President, Geo. ~. Holt, 11 Wall Street, N. Y.-(V. 62, p. 548.) Indiana & Lake Michigan Ky.-Owns from South Bend, Ind. to St. Joseph, Mich., 39 miles. Leased when completed, January, 1890, to Terre Haute & Indianapolis. which guaranteed by endorsem ent the above bonds, principal and intere@t. The rental is 25 per cent of J;1:ross earnings. Interest due Sept. 1. 1896, was not pllid. V. 03, p. 407. In November, 1~96, the Central Trust Co., New York, brought suit to foreclose the first mortgage.-V. 63, p. 1009. Unfunded debt Jan. 1, 1896, $262,479. BONDHOLDERS' COl\11\IITTEE.-Chatrman, Morgan G. Bulkeley; Sylvester C. Dunnam, J. 8. Farlee, M. L. Scudder: depositary, Central Trust Co., N. Y. A majority of the bonds ha~ been deposited. V. 63, p. 601. Stock is $800,000. Due T. H. & I. for betterments to Nov. 1, 1896, $201,218. For year ending Oct. 31, 1896 (see report V. 64, p. 467), gross, $67,592; deficit under operating, $8,154: rental was $16,897; loss to lessee, $25,051. In 1894-5 gross, $d4, 72 l ; der. under operating, $8,908. (V. 64, p. 46'7.) Indlanapolts Decatur & SprlngfleJd Ry,-In the or~anization of the Indiana Deatur & Western-which see above-tlte old Indianapolis Decatur & Springfield 1st 7s received par in new bonds and $390 per bond from sale of I. D. & W. stock-see V. 65, p. 27. Indianapolis Union Ky.-Owns 3 miles of track, ·93 of a mile of road, with terminals at Indianapolis, Ind., and leases for 999 yea.rs the Belt RR. of Indianapolis-which see-consisting of 1212 miles of road e•circling the city, etc. Formed in 1850 and furnishes terminal facilities to the several railroads enterin~ Indianapolis. STOCK-The Cleveland Cincinnati Chicago & St. Loms, the Pittsburg Cincinnati Chicago & St. Louis and the Terre Haute & Indianapolis are virtual proprietors, they having invested in it $855,092 to June 30, 1895. No stock outstanding. BONDS. -Trustee of mortgage is the Fidelity Ins. Trus:t & Safe Deposit Co. of Philadelphia. Bonds for $35,000 have been canceled by sinking fund. For year endin~ June 30, 1896, gross, $606,520; net, $310,512; other income, $13,672; charges, $244,610; balance, surplus, $79,574 In 189-1-5, gross, $504,860; net, $223,590; other income, $16,534 lndlanapolls & Vincennes KK.-Ownsfrom Indianapolis, Ind. to Vincennes, 117 miles; branches, Bushrod to Dugger, etc., 16 miles. BECURITIES.-Connecting line for Penn. RR. to Vincennes. Stock, $1,402,000; par, $50; of which Pennsylvania Company on Jan. 1 1897, owned $1,401,900. The Penn. RR. Co. guarantees by endorsement on each the prinoipal and interest of the bonds. Y'rend.Dec..,31: Gross. Net. Interest,etc. Balance. 1896 .... .•••.. $485,608 $98,197 $208,474 def. $110,277 1895 ........... 517,002 90,543 207,140 def. 116,597 96,865 206,623 def. 109,758 1894·95 ................ ........ . .. .. ......... $1,350,055 $567,526 1894 ......•.... 484,315 1893-94....................... . . ... . . . . . . . . . 1,385,046 528,317 International & Great Northern HK.-Operates from Longview on Texas & Pacific (near Shre-veport, La.,) southwesterly to -V.66,p.133,136,138,183. ,,Houston & Galveston, also to Laredo, Tex., on Mexican National RR. Indiana Decatur & Westel'n Ky.-Indianapolis, Ind., to DeLines ownedMites. [Lines OperatedMites. catur, ill., 152 miles . Successor in 1A94 of Indianapolis Decatur & Longview, Tex., to Laredo, Galveston, Houston & HenWestern, foreclosed under the old Indianapolis Decatur & Springfield Tex . ........ . ................. .496 derson (jointly with M. K. mortgage of 1876.-V. 61 1 p. 1064. See decision confirming the valid- Palestine to Houston, Tex ..... 150 & T). ••• .. .•••.... .. •••••••. •• 50 ity of ~he reorganization m V. 64, p. 41, 953; V. 65, p. 27 Mineola, Columbia, etc., Other lines .....•............... 26 STOCK AND BONDS.-In December, 1895, $912,000 common and $912,· branches .....•................ 101 -Total system . .. . ............. 823 000 preferred had been issued, all of which had been sold to Cincinnati ORGANIZATION.-Reorganized wit out foreclosure in 1892 under plan Hamilton & Dayton interests. See V. 61, p. 1064. The first mortg a13:e of 1895 is authorized at $12,000 per mile for In V. 54, p. 203,366. Stock authorized is $25,000,000; outstanding, additional road built or acquired; the bonds are redeemable by lot at $9,755,000; par, $100; controlled in interest of Missouri Pacific. Owns 4,999 shares of G. H. & H. stock. See V. 61, p.1013, 1064. 110, at any time on eight weeks notice: mort!!,'a~e trustee, Central BoNDs.-The ,econd mortgage interest, scaled to 4¼ per cent, until and Trust Co., N. Y., and Augustus L. Mason of Indiana. LATEST EARNINGS.-8 mos., 51896-7 .. Gross, $318,212; net, $109,4.33 including Sept. 1, 1897, i s now 5 per cent; but in case of default the rate reverts to 6 per cent as formerly. Second mortgage bonds are reJuly 1 to Feb. 28. { 1895-6 .. Gross, 337,867; net, 113,812 served to take up the $3,000 old incomes. ANNUAL R&PORT.-Fiscal year ends June 30. Report for 1894·95 The thi rd mortgage 4 per cent bonds for $3,000,000, which were was in V. 61, p. 1061. Gross and net for 1895-96 are given below: incomes until Sept. 1, 1897,now draw interest at 4 p. c. per annum. Years end June 30. Gross. Op. exp. Net. Taxes. Balance. v. 56, p. 82. There i s also llUtstainding fractional 3d mortgage scrip 1895-96 . ........... $483,798 $322,211 $161,587 .... .. . .... . 0 on,ertible for $32,887. The urtificates of indebtedness were paid 1894-95 . ........... 478,134 305,837 172,297 $32,976 $139,321 0 ft' Nov. 1, 1897. On April 30, 1897, loa ns and bills payable, $250,000. Year. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Gross. Net. .J°ANUA.RY, 1898] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND :BONDS. 69 - INVESTORS' SUPPLEMENT. 70 [VOL. LXVI. Subscriber• -will conf'er a great f'avor by giving IJnmedlate notice of' any error discovered In the11e Tables. .Bonas-PrinolINTEREST OR DIVIDENDS. Amount ,--------,------,----------- pal,WhenDne. Date Size, or Outstandino Rate per When Where Payable, and by Stocks-Last Par of of Dividend. Whom. ° Cent. Payable Road. Bonds Va.Iue. RAILROADS. - - - - - - - - - - - -1Miles -------- For explanation of column headings, &c., see notes on first page of tables. --- ----,-- - - - - , - - - - - ---------------------,-- International d Great Northern-(Ooncluded)- Purchase money 2d mort. incomes, non•cum ..... 776 2d mo°j:age, gold.................. . . .....•••.•• c* 776 3d m. ( ~00,000) (formerly incomes), g ....... C" 776 Color o JSridge bonds, sinking tund ....... . ....•. .... Iou,a Oent.-Common stock, $11,000,000 auth ...•. Preferred stoc~ $7,400,000, 5 p. c., non•cum .... let M., for $7,6:>0,000; $15,000 per mile, gold .. c+ Keithsburg Bridge 1st mortgage, gold, guar .... o* lron Railway-Stock ..•••.. ••. • •..••......•....•...•. Jackson'IJille ti St. L ouis-Stock Trust Certificates. Jaokeonv. Southeast. 1st M., Jack. to Litchfield •. ·54 1st consol. mortgage, $650,000, ~old.......... o• 112 Inoomes, 4s, gold, non•oumulative, $1,650,000 .. 112 JacksonfJ'il,f,e Tampa ti Key West-Receiver's certtls. let, gold, redeemable at 110 ..••.......... . ..... o,. 13019 37 Atlantic Coast St.Johns & IndianR.lst M.,gold.o 29 I Sanford & Lake Eustis 1st M. ($350,000), gold ... 200 T J. T. & ~- W. consol. mortgag~ for $4,000,000...• .,a,cksonmtle Ter. Ry.-lst M., $500,000, ~.,guar.o Jefferson-lat &2dMs,ext. in '87&'89 (H da.leBr.)c 37 ist M. Carbondale to 8. depot, gold, guar. p. & i .. o* 45 Joliet d Northern Indiana-lat M. gu. p. &i. M. C.o 3·56 Junction (PhuadelphwJ-lst m.,guar.p.&i.(ext'd). ...2d mortga.ge, guaranteed prin. &int ............ ·~ 3·56 164 .a..anaw.cf Mich.-lst M., $15,000p.m.,~.,gu. p.& 1.o 10 Kansas Oity Belt-1st ($534,000 gu. K.C.F.8.&M.).c* Kansas Oity Olinton ti Spring.-•lst M., g., guar .. o* 174 Pleasant Hill & De Soto 1st mortgage, gold..•.•. Kansas Oity Ft. Scott cf Memphis-Stock ..••••••••••• Preferred stock contracts., 8 per cent ............ . K. C. F. 8. & G. 1st M., l'a. gr.,s. f., dr'n at 110.o* 10-year 6 per cent coupon notes (over•due) .... ···s 1879 $500&c. 1881 500 &c. 1892 500 &c. 1,000 1880 100 100 1,000 1,000 100 100 1880 1,000 1896 1896 1893 1884 1,000 1886 1,000 1886 1,000 1890 1,000 1894 1,000 1867 1,000 1889 1,000 1877 1,000 1882 1,000 1865 1,000 1890 1,000 1886 1,000 1885 500 1877 100 100 100 &c. i:ooo __________,______ $3,000 . . . . . M. & S. 7,051,000 ·5 g. M. & 8. N. Y., office, 195 B'way. See remarks. 2,703,500 4 g. M. & 8. 198,000 M. & N. N.Y., office, 195 B'way. 7 8,457,425 5,569,376 J:·&·D. N. Y.,MercantlleTr. Co. 6,330,483 591,000 6 g. J. & D. N. Y., Central Trust Co. 600,000 Boston. yearly. .... .. 1,500,000 ...6.. . .... See text. 300,000 J. & J. 350,000 5 g. A. & 0. Phlla.,Penn.Co.for Ins. 1,582,000 J. & J. 4 141,300 . . . . . N. Y., Seaboard N. Bk. 8 6 g. J. & J. Jan., '95, paid July, '95. 1,566,000 360,000 6 g. M. & 8. Mch., '95, coup. last pd. 290,000 ~ g. M. & 8. Mch., '95, coup. last pd. No coupons paid. 1,784.000 M. & 8. 5 g. J. & J. N.Y.Metropolitan Trust 500,000 300,000 4¼& 6 J. & J. Phlla., Fidelity Tr. Co. N. Y., Erie RR. 2,800,000 5 g. A. & 0. 800,000 J. & J. N. Y., Farm. L. & Tr. Co. 7 425,000 4¼ J. & J. Phlla., Broad St. Sta.. do do 300.000 A. & 0. 6 4 g. A. & 0. N. Y., Central Tr. Co. 2,469,000 2,050,000 J. & J. Boston, Of., 50 State St. 6 5 g. A. & 0. Boston, Merch. Nat. Bk. 3,192,000 do 7 g. A. & 0. do 58,000 9,997,000 ..... Boston, Of., 50 State St. do do ..... 2,750,000 .. ·7·· J. & D. Bost., Nat. Webster Bk. 2,197,000 ......... . 320,000 Various 6 ...5.g. Sept. Sept. Sept. May 1, 1, 1, 1, 1909 1909 1921 1920 Apr: ·ii: ·i89z June 1, 1938 ,Tune 1, 1925July 10, 1891 Juiy. i·; .i910 Oct. 1, 1925 Jan. 1, 1~3~ Jaii.:· 1,""i914, Jan. 1, 1906 l916 sep\J4 July 1, 1939 July 1, 1927 Jan. 1 1909 July 10, 1907 July 1, 1907 Apr. 1, 1900 Apr. 1, 1990 July 1, 1916 Oct. 1, 1925 Oct., 1907 Feb. 16,1891 Feb. 15,1893 June 1, 1908 On demand. Jacksonville Terminal Ky.-Owns union freight and pa.ssenEARNINGB.-On 775 miles not including Ga.Iv. H. & H., Ja.n. 1 to Dec. 31, 12 months, gross, $3,645,045 in 1897; $3,523,184 in 1896. ger depots rthe latter opened Feb. 1, 1895,] and termiiial properties a.t Year ending Dec. 31, 1896, gross, $3,522,384; 1895, gross, $3,277,657. JacksonviU(>, Fla., including 20 miles of track, used by Savannah Florida & Western, Florida Central & Peninsular and Jacksonville St. For yea.rs ending June 30, on 775 miles (G. H. & H., not included): Batance. Augustine & Indian River (now Florida East Coast Ry.), which com• Other inc. Oharges. Net. Gross. $691,622 $34,771 $889,802 def. $163,409 pariies guarantee by endorsement the principal and interest of above 1895·96 .... $3,174,112 i:s58,969 sur. 280,555 bonds; trustee, Metropolitan Trust Co., N. Y. Property is also used by 14,261 1,125,263 1894-95.... 3,491,653 39 863,000 def. 124,644 Jacksonville Tampa & Key West. 738,317, 1893-94.... 3,107,763 Jefl"er11on KK.-Owns Lanesboro, Pa., to Carbondale, Pa., 37 -(V. 61, p.1013, 1064; V. 62, p. 778, 1038; V. 63, p. 647'.) miles double track; branch, Hawley, Pa., to Honesdale, Pa., 8 Iowa Central Ky.-Operates from Peoria, Ill., westerly to Oska- miles. Leased in perpetuity to the Erie RR. Co. for $140,000 per loosa, Ia.., thence northerly to Manly Junction, Ia., and branches, viz.: annum for main line and $14,940 for branch. Used by Delaware & RudMiles. sou to reach Carbondale. Stock, $2,096,050; all owned by Erie RR. LeasesMiles. OwnsIowa Juno., Ill., to Miss. River. 89 Keithsburg Bridge over Miss .. 2¼ J ollet & Northern Indiana KK.-0wns J ollet, Ill.. to Lake Miss. River to Oskaloosa, Ia ... 95 Track, Iowa Junct'n to Peoria. 3¼ Station, Ind., 45 miles. Operated as part of the Michigan Central sysOskaloosa to Manly Junction .. 154 tem. Road opened in 1854 a.nd leased to the Michigan Centra.l. Stock Total of all ..... ·-·············509 ($300,000, par $100) carries dividends of 8 per cent per annum. Branches to Albia, eto.......... 165 In 1896 began opnating jointlr. with Burl. Cedar R. & No. the line Junction KR. (Phlladelphla).-0wns Belmont, Pa., to Gray'& Manly Juno. to Northwood, 11 miles, formerly leased to that road. Ferry1 Pa., about 4 miles. It connects the Pennsylvania, the PhiladelHISTORY,-Rf'Organization (by plan in v. 44, p. 653) of the Central phia & Reading and the Philadelphia Wilmington&Baltimorerailroads. coming into Phlladelphia, which three companies jointly- guaranteeIowa sold in foreclosure in 1887-88. all held by CAPITAL 8TOCK.-The preferred is entitled to 5 per cent (non-cumu principal and interest of bonds. Stock $250,000 (par $50), 1s c., in 1893 40 p. c., in 1892 35 p. ative), then common to 5, then both share pro rata.-(V. 62, p. 548.) these three cos. DIVIDENDS-in 1891 30 p. o.; in 1894, 15 p. c.; in 1895, none; in 1896, 15 p. c. DIVIDENDB.-On preferred stock in 1892 paid 1 per cent; none since Kanawha & 1'Ilchlgan Ky,-(See Map Toledod Ohio Oentral.)BeNDs.-Mortgage trustee Mercantile Trust Co.; abstract V. 49, p. 582. Owns Corning, O., to Gauley on the Ches. & Ohio, 172 miles, less 17 Pomeroy to Gallipolis, and 1 mile, Athens to Armitage, where C. miles, $289,703 net, $813,363; Gross, .......• 1897 i months, EARNINGS-5 51896 ........ Gross, 687,591; net, 212,221 H. V. & T. tracks are used. Also owns branch of 11 miles leased t.o July 1 to Nov. 30. Toledo & Ohio Central and Col. Shawnee & Hooking &y. companies. ANNUAL REPORT.-Fiscal year ends June 30; report for 1896 -97 was HISTORY, ETc.-Reorganization 1n April, 1890, of the Kanawha & n V. 65, p. 566. Soft coal tonnage in year 1896·97 was 611,796 (54 (V. 50, p. 451, 483.) In Oct., 1890~ p. c. of total tonnage) ; 1895-96 was 584,003 tons; in 1894-95 was Ohio Railway sold in foreclosure. interest in the stock was acquired by the Toledo & Ohio Central, large a. 671,757 tons, being 58·6 p. c.; ton•mile rate in 1896·97 was 0·88 cents, which has guaranteed the bonds, principal and Interest. (See V. 52, p. against 0·90 cents in 1895·96; train load 173 tons, against 172 tons. 16ft, 351.) Oapital stock $10,000,000. The first mortgage bonds are 1895. 1896. 1897. Year endtng June 30. authorized st $15,000 per mile of road constructed. June 30, 1897, 498 499 509 Av•~e miles of road operated. loans and bills payable, $137,226. $1,569,221 $1,839,708 Gross earnings ........ ·····-·· $1,564,205 LATEST EARNINGB-5 mos., 51897 .... Gross, $243,811; net, $74,36S 458,434 617,385 400,561 Net earnings (over taxes).... i 1896 .... Gross, 188,075; net, 45,412 July 1 to Nov. 30. 473,185 631,721 408,348 Total net rec'ts (incl. rentals) over 5 months' charges, $17,103 in '97; deficit, $5,933 in '96. Surplus 378,347 373,163 374,792 Interest, renta.Is, &c.... ...... ANNUAL STATEMENT.-Fiscal year ends June 30. In year 18~6-97 24,875 80,238 30,054 Improvements ... -............ gross, $479,488; net (including other income, $1,r,17), $119,335; in$69,964 terest, taxes, etc., $122,482; balance, deficit for year, $3,147. In $178,320 $3,502 Balance, surplus . . . ·-· · ··· 1895-96 gross, $472,969; net, $116,129. In 1894·95 gross, $420,625; President (Sept., 1897), H.J. Morse. (V. 65, p. 277,463, 566.) net, $108,261.-(V. 65, p. 514, 1021.) Jacksonville & St. Louis Ky.-0wns Jacksonville to Centralia, Kansas City & Atlantic KK.-Purchased in January, 1897, by ID., 112 miles. A reorganization July 1, 1896, of the Jacksonville Louis- K. C. & Northern Connecting. ville & St. Louis RR., foreclosed June 10, 1896. Road is operated inKansa11C'ity Belt Ky.-FromArgentineto Valley of Blue River, 10 del)endently. As to voting trust (voting trustees, Robt. F. Kennedy and J. H. Dunn), etc., see reorganization plan in V. 63, p. 30. miles. Stock authorized $2,500,000 (par, $100); outstanding The first consol. bonds outstanding (trustee of both lats and incomes $100,000 (par, $100) ; owned one•half by Atchison Topeka Penn. Co. for Ins. on Lives, etc.) may be increased to $650,000, but & Santa. Fe and three-tenths by Kansas City Fort Scott & Mero only to take up the Jacksonville Southeastern bonds. For the year phis a.nd two-tenths by Chicago Milwaukee & St. Paul. Double-tracke«I endJng June 30, 1897, gros~, $225,793; net (over taxes), $42,134; in• and used for a terminal road at Kansas City, being leased for 99 years terest on bonds, etc., $37,500; balance, urplus for year, $4,634. In from 1888 to C . M. & St. Paul and Atchison Top. & S. Fe (jointly with other companies) for payment in each case of 3 p. o. per annum of 1895·96, gross, $210,831.-V. 63, p. 30, 880. cost of property used with equal proportion of cost of conducting Jacksonville Tampa & Key West Ky.-Line of road Jackson; transportation and maintenance according to wheelage. The mortville, Fla., to Sanford, 125 miles; Enterprise branch. 4 miles, gage ls for $2,500,000. EARNINGS.-For year ending June 30, 1897~ Deland branch, 5 miles; Atlantic Coast St Johns & IndJan River, gross, $216,450; net, $140,797; taxes, $8,364; interest, $121,500; Enterprise to Titusville, 37 miles; Sanford &Lake Eustis Div., Sanford dividends (5 p. c.), $5,000; balance, surplus, $5,933. In 1896·7 gross, t.oTavares, 29 miles; total J.T. &K. W., 200miles. $212,889; net, $134,418. President, E. 8. Washburn, Kansas City, Mo. RECEIVERSHIP, ETC.-Reoeiver appointed Ang. 4, 1892. Receiver Kansas City Clinton & Sprln,rfl.eld Ky.-Owns from Cedar ts now Joseph H. Durkee. The land grant was about 1,500,000 acres. Junction, Kan., to Ash Grove, Mo., 164 miles, and branch to Pleasant As to Florida Southern (see that company). Foreclosure sale under Hill, Mo., 10 miles; total, 174 miles, but only 163 miles operated. oonsol. mortga~e of 1890 postponed on May 3, 1897, for the fifth time, STOCKS, ETC.-Stock issued, $1,775,400 (par $100), one-half owned a.nd no date had been set to October, 1897-V. 64, p. 888; upset price $350,000. Console for only $1,376,500 are recognized as valid. (Bee by Kansas City Fort Scott & Memphis RR., which guarantees th& V. 62, p. 683.) Current liabilities, not including overdue interest, bonds; due that company July 1, 1896, $423,000. .ANNUAL REPORT.-Fiscal year ends June 30. In 1896·7, gross~ March 31, 1897, $31,403. $111; interest. $163,660 FmsT MORTGAGE COMMITTEE, ETC.-Winthrop Smith. Chairman, 517 $330,045; net, $104,683; other incowe, deficit for year, $58,866. In 1895·96, gross, $103,915; net balance, Ohestnut St., Phlla.; H. A. Du Pont, Alfred S. Elliott, Henry N. Paul. Over four-fifths of the firsts had been deposited in April, 1896. Fore• $185,077. In '94·95, gross, $414,328; net, $196,047.-(V. 61, p. 1010. closure suit under first mortgage has been brought. Con sols are repreKansas City Fort Scott & 1'Iemphls KK.-0wns main lme from sented by Simpson, Thacher & Barnum, New York. v. 64, p. 754. Kallsas City, Mo., to Memphis, Tenn., 485 miles, with branches, 23(> STOCK-Stock July 1, 1892, was $3,010,000 of which it is said miles; total owned, 721 miles. Controls the Current River RR. (Willow Bprings,Mo.,toGrandin,82m.),owning$942,000otits$1,606,000stock the Florida Construction Co. owns $2,715,300. capital stock of K. C. Clinton & Springfield and of K. C. EAR~Gs.-8 months, ? 1897 ........ Gross, $186,323; net, $11,686 Owns one•half 5,022 Memphis & Birmingham RR.; also 300 shares Kan. City Belt. 51896 ........ Gross, 192,350; net, April 1 to Nov. 30. ORGANIZA.TION.-Formed in April, 1888, by consolidation of the Kan. REPORT.-Report for year ending March 31, 1897, in V. 64, p. 1222. O. Ft. Scott & Gulf and Kansas City 8pr1ngfleld & Memphis railroads. Balance Oharges. Other inc. Net. Gross. '86, '87, '88, '89, '90, '91, '92, '93. DIVIDENDS.$180,863 def.$161,136 $759 $18,968 1896-97 .... $306,288 5 none, 0, O, 4¼, 3¼, 3, 3¼, 1, 172,729 def. 177,442 On common .•••.•.. 4 954 1895-96 ... . 317,278 def. 5,667 5. 8, 4, 8, { since 8, 8, 230,271 def. 28,065 On preferred .... _..• 8 ¾,, 8, 1,778 200,428 1894-95 .... 668,782 BoNos.-Consols are reserved for all prior bonds when due. The charges in 1896•97 included taxes, dJscount, etc., $47,903, GENE~AL FIN~CES.-On June 30, 1897, bills payable were $100,798 wh1ch were paid, and interest on lsts (accrued), $132,960, not paid. and eqmpment bills $246,936. In Dec., 1897, $500,000 consol. 6s were -v. 64, p. 469,707,754, 888, 1222. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I --- 62, JANUARY, RAILROAD STOCKS AND BONDS. 1898,J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Willmar 71 GT. KANSAS CITY & NORTHERN CONNECTING RAILROAD .CNVES~ORS' SUPPLEMENT. (Voi.. LXVI. Subscribers -will conf'er a grea, favor by glvlnc Immediate notice of any error discovered In the ■e Table ■• Bondl-~c,.. &An.ROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Due. Amount Rate per When Where P-Mi_able, and by pa.l,When For explanation of column headings, &c., see notes of of Par Outstanding Stock•-Last on first page of tables. Road. Bonda Value. Cent. Payable om. Dividend. --- --· Kansas Oity Ft. Scott & Memphis-(Ooncluded1Ft. Scott So'eastern & M .. 1st M., dr'wn at 105.c• Short Creek & Jo~lin 1st M., drawn at 105..... o* Memphis K. & Co . 1st M. (see text) .•.•••.....• o• 103 22 50 26 708 81 Kansas & Missouri RR. 1st mortgage ........ "* Consol. mortgar ($25,000 perm.) not dr'n.NBo* Current Riv. R . 1st mortiil.20,000 p. m., guar. Kan. C.& M. R'y &B'd~ls .g.,s.f.,dr'natll0.o* ·-·· Kansas Equi'£: Co. 1st . guar., s. f., red. at 110. .... Kan. O. Memp . <I Bir.-Gen.M., $4,500,000, our.c• .... Income, non-cumulative, $7,000,000, our ...... o"' .... Birm1n~am equipment M., g.,gu. (red. at 110) .. o• .... Memp Equipment Co., guar., red. at 110..... o* .... Kansas Oity <I Northern Oonnecting RR.1st mortgage, gold, $20,000 per mile ............. 72 2d mortgage, income, gold, $15,000 per mile .... 72 Kan. Oi~ Northweste~Mort., gold. See text .. o* ··-· K. O. <I m.-lst M. ($15,000 p. m.) g., int. gu.c*&r 194 Kansas OitJ! " Paciftc-SEE MISSOURI KANSAS & TE XAS. Kan. a. Pitts. & GuJ!,,.-lst mort., gold ............... K.O. St. Jo.ff Ooun. l.-Con.M. (Nos. 1 to 500pf.)o 248 1st Ms.Nod.and Tark. Val.RRs. s.f. {dr.atl00).o* 62 Funding notes ..................................... ·-·· Kan. Oity Suburban Belt-Stock •••..•....••...... _. 1st mortgage, gold................................ <" Consol. Terminal Rf;. of K. C., 1st M., gold..... o* Union Ter. RR. Co. st M. ($2,000,000) g. guar .o* Kansas City & Indep. Air Line 1st M., gold .. o&r Kansas OifJb Watkins ti Gulf-1st mort., gold..... c* Kansas M' and-I st M., gold, $15,000 p. m . . Me.c 1880 $1,000 $571,000 1,000 1880 94,0b0 1,000 1884 492,000 1882 1,000 390,000 1888 1,000 13,379,000 1887 1,000 1,606,000 1889 1,000 3,000,000 1,000 1889 761,000 1894 500 &o. 3,159,010 1894 500 &o. 6,318,020 1888 1,000 1,000,000 1890 1,000 189,000 M. & 8. Boston, Nat. West.Bank 7 7 M.& S. do do M.& s. 7 do do F. & A. 5 do do M.&N. Bost., Nat. Webster Bk. 6 5 A. & 0. Boston, Nat. Union Bk. 5 g. A. & 0. N.Y., Un. Tr. Co. &Bost. J. & J. Bost., Nat.Webster Bk. 5 4 M. & 8. Boston, Old Col. Tr. Co. Sept. 1 2 p. c.pd.Sept. 1,1897 5 6 g. M. & 8. Boston,OldCol'nyTr. Co F. & A. Boston Office. 6 Text. 1,000 Text. 1,000 1894 500 &c. 1887 500 &o. 5 g. J. & J. 1927 . .... N. Y., when earned. 1927 5 ~. 5 g. J. & J. N. Y., Mere. Trust Co. Jan. 1, 193:J 5g J. & J. July, '93, coup. la.st pd. Jan. 1, 1927 1,000 1893 1877 100 &o. 1,000 1880 1893 "ioo ·so is9o 1,000 1,000 1892 ·10 51g 98 107 1893 1892 1890 1887 1,000 1,000 $&£ 1,000 (') (1) 935,680 2,713,000 19,706,000 5,000,000 503,000 480,000 4,750,000 1,000,000 750,000 1,550,000 300,000 1,967,400 1.608,100 Sept. Sept. Sept. Aug. May Oct. Oct. Jan. Moh. Moh. Moh. Aug. 1, 1, 1, 1, 1, 1, 1, 1, 1·, 1, 1, 1, 1910 1910 1910 1922 1928 1927 1929 1905 1934 1934 1903 190~ Apr. 1, 1923 O. See text. J. Boston, 2d Nat'l Bank. Jan. 1, 1907 D. June 1, 1920 do do J. Jan., 1907 ········-Jan.1 ' 98,119%, .. & D. Phlla., Union Trust Co. June 1, 1920 & A. Phila. of., 400 Chestnut Feb. 1, 1922 & A. Feb. 1, 1923 do do & 8. Phil., Prov. T ife & Trust Moh. 1, 1922 & J. July,'95, coup. last paid Jan. 1, 1930 & D. June 1, 1937 Bee V. 65, p. 925. 5 g. A. & 7 J. & J. & 7 ······ J. & ...6.g. 5 5 5 5 4 . ·- J. g. F. g. F. g. M. g. J. e;. J. sold to reimburse the company for K. C. Springfield & Memphis 6s De Quin<'Y to Lake Charles, V:1., 21 miles; Joplin, Mo., to Sulphurpaid in cash May 1, 1894.-V. 65, p. 1220. Springs, Ark., 53 miles {acquired from K. C., Ft. Smith & Southern in EARNINGS.-lncluding K. C. C. & 8. aLd Cur. River, July 1 to Nov. 30: Oct., 1897); tot11l, 839 miles; trackage, Grandview to Kansas City, 23 miles over K. C. Osceola & Southern and K. C. Suburban Belt. Ar5 mos.Gross. Net. Oharges. Bal., surp. rangements with Mallor·y Line of steamships were reported in April, 1897....... $2,218,521 $7 11, 540 $58 2 ,508 $ 129, 032 1897, securing connection between Kansas City awl New York via the 64 , 55 8 Gulf ofMexioo.-V. 64, i,. 754. Line completed to Port Arthur in Sept.,. 1896....... 1,957,796 6 4 9, 410 584,852 ANNUAL REPORT.-Report for 1896-7 in V. 65, p. 821. 1897, when 770 miles were in operation. Year end. June 30. 1897. 1896. 1895. 1894. Port Arthur is on Sabine Lake, 7 miles from deep water channel, to Gross earnings ......•• $4,137,128 $3,991,694 $3,985,635 $4,406,740 which a ship canal ls under construction {1¼ miles finished in Nov.~ 1897). and expected to be completed by October, 1898. Until com2 Net earnings .... -·• ... $1,310,557 $1,209,695 $1,191,489 $l, 69,l87 pletion freight is lightered from Port Arthur to deep water channel1 , 14 7,139 Interest and miscell.. 1,260, 223 l,099, 2 78 11 ,125 ,84 1 see v. 65. p. 1024. The ship canal is being built by the Port ArthurBalance, surplus.... $50,334 $62,556 $92,211 $143~346 Channel Dock Co.-V. 65 , p. l072. Deficits paid on Current River RR. and Kansas City Clinton & SpringHIST0RY.-Organized in 1889 under Laws of Missouri as K. C. Nevada. fteld RR. in 1896-97 was $100,941, not included above.-V. 65, p. 1220. & l<'t. Smith RR. and name changed Jan. 23, 1893. See application, Kansas Olty lffernphls & Birmingham KK.-Owns from for li ting on N. Y. Stock Exchange in V. 65, p. 473 and 824. Memph1s GO Birm1ngham, Ala., 253 miles, and branches to Aberdeen, ST0CK.-Stock authorized, $23,000,000, $25,000 per mile; par $100i Miss., and Bessemer, Ala., 23 miles; total, 277 miles. listed on N. Y. Stock Exchange to Jan.. 1898, $22,370,000. STOCK, TRAFFIC GUARANTY, ETC.-The stock is $5,976,000; par, $100. BONDS.-First mortgage (see abstract in V. 64, p. 1044) ~old bonds.. The Kansas City Fort Scott & Memphis owns ha.If the stock and gives a at $25,000 per mile of main track and $15,000 per mile additional fortraffic guarantee of 10 per cent of gross earnings derived from busineRe second track were authorized m April, 1893, interest on which untll to and from this road, to be applied to interest. In 1894 the company April, 1897, was payable only if earned. To conform with State la.we was reorganized under plan of December, 1893.-(See V. 57, p. 938.) portions of the road hal'e been built and are owned under the title of BoNDs.-The general mortgage bonds bore Interest at 2 p. o. in 1894- the Texarkana. & Fort Smith and K. C. Shreveport & Gulf, who11e-. 95; 3 p. o. 2d year (1895-6): and 4 p. o. thereafter. On income bonds stook and bonds are pledged to secure the K. C. P. & G. firsts. Mort-2 p. o. was paid Sept. 1, 1897. (V. 6~, p. 367.) gage covers equipment. Missouri Kansas & Texas Trust Co., of Kansas City, Mo., and the State Trust Co., of N. Y., trustees. New York. LATEST EARNINGs.-From July 1 to Nov. 30 (5 months): Stock Exchange reports $19,706,000 firsts listed to Jan., 1898, bu~ 5 months. (l'ross. Net. Oha1·ges. Balanu. of these $4,850,000 do not begin to draw interest until April 1, 1898 1897 .................... $4R5,S62 $119,546 $82,503 sur.$37,043 and on the balance the first coupon was due Oct. l, 1897; coupons 1896.. ..... . • • . .. . • • •• 531,897 162,808 81,975 sur. 80,833 payable at company's office, 1 Nassau St., N. Y. City.-V. 65, p. 367,463. ANNUAL REPORT.-For year 1896·7 in V. 65, p. 820. LA TE T EARNINGS.-Jn April, 18~7. road was completed to ShreveYear. Gross. Net. Other Inc. Interest. Bal., Sur. port,, 569 miles; in September, 1897, was operating 770 miles to Port 1896-7...... $1,241,393 $315,183 $25,790 $198,085 ,T$14~,888 Arthur. Earnings since April, 1897, have been as follows: 1895-6 ..... 1,189,651 223,761 25,749 176,965 72,545 Gross. Net. Gross. Net. -April .............. $179,012 $69,570 Aug ................ $267,677 $121,161 ,r N0TE.-From surplus 1896-97 paid 2 per cent on incomes in Sept., May........... 190,515 72,241 Sept._....... . 243,894 91,117 1897, $126,140, leaving balance, surplus, of $16,748.-V. 65, p. 8~0. June .......... 149,846 29,4.50 Oct ..... . ..... 257,875 88,413 Kansas Olty & Northern Connecting KK.-(See Map.I- July ........... 205,096 77,989 Nov .......... 302,643 124,083 Under construction Pattonsburg, Mo., to Kansas City, Mo., 72 miles. Dec ........... 265,174 The K. C. & Atlantic (which see) NorthK. C. to Smithville, 20 miles, For y e ar ending Deo. 31, 1897, gross, $2,416,263. was purchased in January, 1897, and will form part of the main line. ANNUAL REP0RT.-Report for year ending Sept. 30, 1897, in V. 65 ..ORGA.NIZATION.-This road is owned by the Kansas City Suburban p. 1068, showed gros!I, $1 ,869,~64; net, $615,849; taxes (est.), $35, Belt RR. Co., whose extensive terminals it will use at Kansas City. 160; net over 1axe~, $580,689. On Sept. 30, 1896, 395 miles were in When completed it will be consolidated with the Omaha K. C. & operation, and on Sept. 30, 1897, 770 miles. President (Jan., 1898), Eastern, forming witl:l the K. C. Pittsburg & Gull a new through A. E. Stilwell, N. Y.; office, 1 Nassau St. See list of directors elected'.! route to the Gulf of Mexico. See v. 62, p. 1177. Oct. 28, 1897, in V. 65, p. 869. {V. 65, p. 8 69, 1024, I 068, 1072.) SECURITIES.-Stook authorized, $3,000,000, at $35,000 per mile, of Kansas Olty st • .J'oseph & Oouucll Bluff'• KK.-(Su which $20,000 per mile to be issued at present. Map Ohicago Burlington & Q.J-Owns from Kansas City to Council Full varticula.rs regarding bonds were in V. 62, p. 1177. When con- Bluffs, 193 miles, branches 55 miles, proprietary lines (Nodaway Va.Hey solidat10n with O. K. C. & East. takes place, the bonds, and also the and Tarkio Valley railroads), 62 miles; total owned, 310 miles; leases stock, it is provided, may be exchanged, dollar for dollar, for first 6 miles; leased to other companies, 7 m.; leaving total operated, 309 m mortgage bonds and stock respectively of the consolidated company. STOCK, ETc.-The capital stock (including Nodaway & Tarkio Valley)" Pres.,A. E. S t ilwell.-V. 63 , p. i 9 o; V. 64,P· 134· Dec. 31, 1895, $5,988,574. Stock for $5,263,293 was purchased by th& Kansas Olty N orthw-estern RK.-Road Kansas City to Vir- Chicago Burlington & Quincy in 1880, and the road is operated a.spa.rt ,nnin., Neb., 162 miles, of which Seneca to Axtell, 11 miles, and South of that system. Consols. Nos. 1 to 500, both inclusive, have a prior lien Leavenworth to Leavenworth, 1 mile, are trackage, and 20 miles, See description of mortgage in October, 1896, SUPPLEMENT, page 1. Summerfield to Virginia., was formerly the Kansas City & Beatrice. DIVIDENDS.-Dividends on $5,263,200 stock dividends have been: Branches, 12 miles. Total, 174 miles. A reorganization of the K. C. Wyandotte & N. W., foreolosed Jan. 5, 1894. Stock, $3,500,000 (par Year- 1890. '91. '92. '93. '94. '95. '96. •97· $100), controlled in interest of Missouri Pacific Ry.-V. 59, p. 152. Per cent .. 3·07 7·40 43·90 8·65 8·00 4·89 3·71 Below BONDS.-Mortg-age for $3,500,000 (Mercantile Trust Co., N. Y., Fiscal year changed in '97 to end June 30 and for six months to that trustee) issued m July, 1894. Of the bonds, $900,000 are series "A," date a dividend of 2·99 p. c. was paid. "preferred" as to principal and interest, and are redeemable after 5 EARNINGs.-In year ending Dec. 31, 1896, j{I'OSS earnings were $1, years at 105. Car trusts June 30, 1895, $450,681. 761,991; net, $678,541; other income, $1,393; interest and rentals E.A.RNINGS.-For calendar year (on 174. miles) gross in 1896, $301,597, $455,377; dividends, $224,316; surplus for the year, $241. In 1895 against $257,529.-V. 59, p. 152. gross earnings were $1,850,237; net, $717,007. Kansas Olty & Omaha Ky.-Owns Stronburg to Alma, Neb., Kansas Olty Suburban Belt KK.-(See Map.J-ROAD-Ex 150 miles, and McCool Junction to K. C. & Oma.ha Junction, 44 miles. tends from Second St. and Broadway around Kansas City, vie. the Ea.st REORGANIZATION.-Reorganization Committee: F. P. Olcott, An· Bottoms and the valley of the Blue and Brush Creek, providing. thony J. Thomas, Thomas B. Willia.ms, E. Ellery Anderson, E. C. Bene- terminal facilities for the railroads centering- at Kans&d City, and diet, Isidor Wormser and B. L. Parrish; devository, Central Trust Co., furnishes quick transit from the manufaoturmg suburbs a.long the N. Y, The road was sold in foreclosure July 8, 1896, and purchased Blue Valley. By connection with Uruon Terminal RR., in Kansas City by the committee for $150,000. To make the purchase and for repairs, Kansas, this road also reaches the West Bottoms by a system of via. etc., the bondholders were assessed $100per bond. The K. C. & Oma.ha. ducts, and here makes direct connection with every road entering Railway has been organized, but complete reorganization will be de- Kansas City from northwest, west and southwest. ferred.-V. 64, {>• 567. The line was formerly in Union Paci:flc system. ORGA.NIZ.ATION.-In 1892 consolidated with the Consol. Terminal Ry E.ARNINGS.-Smce Nov. 1, 1896, operated independently by St. J. & co., and in Ja.nuary,1893, bought the entire capital stock of the Kansas Gr. Island under operating agreement, and from Nov. 1, '96 to Feb. City & Independence Air Line Company. (V. 55, p. 995.) Also owns a.111 28, '97, 4 months, gross was about $73.000, net about $31,000, exolud- but six shares of the $2,000,000 stock of Union Terminal Ry. Belt ing taxes of about $2,700 a. month. Jan. 1. to Dec. 31 (12 month!!) capital stock ls $4,750,000, a.11 of which ha.s been issued. gross, $242,855 in 1897; $123,187 in 1896. Dividend of 2 per cent in stock was paid Nov. 1, 1893, and 2 p. c. in For year 1895 gross, $75,411:>; deficit under operating $28,370. In stock in June, 1894; in 1898, Jan., 112 p. c. Trustee of the Suburban, 189 t. gross, $112,0-19; def., $24,767. (V. 63, p. 76, 504; V. 64, p. 567.) Belt mortgage is the Missouri Kansas & Texas Trust Co., of Kansas City. Kan!!as Olty .Plttsbnr~ & Gulf _HK.-( See Map.J-Owns fyo~ Of the $1,550,000 Un. Term. 1st 5s of 1893 issued, $250,000 are, Grandview, 23 miles south of Kansas City, to Port Arthur, 765 miles, held in treasury of K. C. Suburban Belt. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis are JANUARY, 1898.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD ·STOCKS AND .BONDS. '73 · K.ANSAS CITY, PITTSBURG -AND- RAILROAD. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ ~ t_%j r,; 1-3 0 ~ C€ rT.l ~ 1-'d ~ I i I I ~ A.ND \HE UNION TER.~INAL RAILROAD. Showing Topography and Railroad Entrances of the City. f ~ JANUARY, RAILROAD STOCKS AND BONDS. 1898.] Subscribers will confer a great favor by giving Immediate notice of any error discovered In these Tables. Bonds-Prine! INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Due Amount Rate per When Where Payable, and by pal,When Par of or explanation of column headings, &c., see notea of Stocks-La.st Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. on first page of tables. K entiicky cf Indiana Bridge-Stock.. . .......... . ... .... -- - - - - - i894 ---· 1881 Receivers' certificates, $100,000 .....•............ lat mort., gold, $250,000, gu. by City of N.Albany .... 2d mar1;aage, fold .................. • -• • • • • • • · · · · · .. .... Termin mor gage, ~ld..... . ..................... i'62 eokuk cf Des Moines- referred stock, 8 p er cent 1st mortw,ge, interest guar. C. R. I. & P ....•.• . . c" 162 eokuk cf estern-Common stock . . ................ 148 Mortgage notes of 1886, '94 and '95 ....•• . ....... .... Advances account Des Moines & Kansas City .... .... K ewaunee Green Bay cf Western---lst mortgage ... c ingston ti Pembroke-1st M.,gold,(redem. at 105). i"ia K noxville Oumb. Gap & L. - 1st M., $1,500,000 ..... K-no(l;'V. cf Ohio-1st mort., gold, guar. by rent. c*&r . 66 L ake Erie & Wester-Com. stock, $20,000 p. m. 725 Pref. stock, 6 per cent rnot cum.) ($20d000 p. m.). 725 let mortgage, ($10,000 per mile) gol .......... c* 725 2d mort., for $3,625,000 ($5,000 per mile) gold .o 725 ake Shore & Michigan Southern-Stock ...... .... Guar. 10 per cent stock (Mich. So. & No. Ind.) ... Buffalo &Erie lstm. (Buffalo,N.Y.,toErie,Pa.).c Lake Shore div. bonds (Buffalo to Toledo, 0.) .... c 258 Consol. 1st mort.sink.fund $250,000 yearly. c&r 859 do ConsoL 2d mort. ··· · ·············· ·c&r 859 New mortgage, $50,000,000, gold .......... c*&r Detroit Monroe & Toledo 1st mortgage, guar.. . c ·r;5 KaJa.mazo & White Pigeon 1st mort., guar....... c 37 41 Bat. Cr. & Stur. 1st M., g.,{uar. p. & i.(see ¥-Cen.) 29 Sturgis Goshen & St. L. ls mort., g., & 1. g-ua.r. Kal. Allegan & Gr. Rapids stock, ren al guar ...•. 58 1st mortgage, guaranteed ...................... c 58 Erie & Kalamazoo (l'sed) st'k, Toledo to Palmyra 26 ,r Interest on registered bonds is payable Q. " ·s·s l· 1889 1886 ------· .... 1878 isifr 1882 1897 1885 $1,700,000 ...... 75,000 1,000,000 5 g. 600,000 5 g. 400,000 5 g. 1,524,600 See text. 100 2,750,000 100 &c. 5 4,000,000 100 2 275,000 6 880,000 1,000 378,000 572,000 1,000 6 $100 -------------··· ----·· ------ ------ --·:r· --··· . ... -... ---------- M:·&··s. Sept., '96, pd. No,., '97 Mai-:;·i1i11 A. & 0. Apr., '93, coup. last pd. April, 1919 J. & D. June,'93,coup. lastpaid Dec., 1916 See text N Y., Office, 13 Wm. St. Jan. 15,1895 A.. & 0 . do do Oct. 1, 1923 A.. & 0, N. Y., Cuyler, M. & Co. Oct. 1, '97, 1% Option of Co. ..&..D. N. Y., Office 40 Wall St. :rmi;; i921 J. In default. Jan. 1, 1912 J. & J. 1; · ..&.. 2,000,000· ...6.g. .J J. N.Y.,J.P.Morgan&Co. 11,840,000 11,840,000 5in.i897 r·F:i5 N.Y. Office, 80 Br'dwak. i887 7 ,250,000 5 g . . & J. N. Y., Chase Nat. Ban . 1891 2,600,000 J. & J. do do 5 7 F. &A. N. Y.,Grand 49,466,500 6in 18 Cent. Stat'n 533,500 10 F. & A. do do i868 1,829,000 A. & 0. 7 1869 1,063,500 7 A. & 0. Coupons payable b! ,r 1870 9 ,825,000 7 Treasurer at Gr' J. & D. 1873 9,081,000 7 Central Station, 1897 25,125,000 312 g. J. & D. N.Y. 1876 924,000 F. & A. Registered Int. on 7 1890 400,000 J. & J. 5 oon.lstand2ds by 1889 3 g. J. & D . Union Trust; on 79,000 1889 322,000 3 g. J. & D. new 312s by U. S. 5,95 A. & 0. 100 610,000 Trust,N. Y. 1,000 840,000 J. & J. 5 . . •. ...... 300,000 10 F. & A. N. Y., Gr. Cent. Station. -J.; on coupon bonds J. & J. ---· --·· i:ooo 100 100 1,000 1,000 100 100 500 &c. 1,000 1,000 1,000 1,000&c 1,000 1,000 1,000 Juiy ·1,'"i925 Feb: 15;'98,l 14 Jan. 1, 1937 July 1, 1941 Feb. 1, '98, 36! Feb. 1, ' 98, 5% Apr. 1, 1898 Apr. 1, 1899 July 1, 1900 Dec. 1, 1903 June 1, 1997 Aug. 1, 1-906 Jan. 1, 1940 Dec. 1, 1989 Dec. 1, 1989 Oct, 1897 July 1, 1938 Feb., '98, 596 l t· j isss EARNINGS.-Ja.n. 1 to Dec. 31 (12 months), gross, $496,134 in 1897, against $340,410 in 1896. Year ending Dec. 31, 1896, gross, $340,560; i n 1895, gross, $277,769. N. Y. office. 36 Wall St.-(V. 65, p. 195, 1071.) Kansas City Watkins & Gulf' Ry.-Completed in 18921rom L ake Charles, La., northerly to .Alexandria, 98 miles; branches 8 miles. Mortgage trustee, Farmers' Loan & Trust Co. St ock a uthor• ized $10,000,000-•p ar$100. On June 30, 18941 stock for $1,967,400 w as outstanding . In Aprll, 1896, floating d eb1; was about $100,000. Interest ha~ been in default since July, 1895. New York Oommittee.W . H . Male, Chairman; D. O. Eshbaugh and Theron G. Strong; Secre• t ary, H. R. Wilson, 41 Wall St., N. Y.; depository, Metropolita n Trust <Jo., N. Y. Philadelphia Oommittee depositary i s Girard Life Ins., .An• n uity & 'l'rust Co., Philadelphia.-V. 65, p. 327,571,729, 1220. Kansas Midland Ry.-Road from Wichita to Ellsworth, Kan., 107 miles. Road opened in 1887. Leased in 1888 to old St. Louis & San Francisco, but not included in reorganizatien of that property . Receiver is A. L. Wolff, Wichita., Kan. Capital stock, $3,004,200. First mortgage bonds, $1,608,000 ; income 6 per cent bonds (at $10,000 per mile), $1,072,000. St. L. & San Fran. owns $2,026,850 of the stock and $688,000 incomes.-V. 65, p. 925. Peoria, Fort Wayne and New Castle are operated partlv under lease The company lets about 74 miles of trackage and terminal rights, re ceiving about $35,000 yt->arly. In September, 1895, purchased the stock of the Northern Ohio-which see. DIVIDENDS SINCE '915 Year.1892. '93. '94. '95. '96. '97. '98. on preferred..- i P. ct.. 4l\i 5 5 5 5 5 Feb . .114 BoNDs.-Abstract of fl.rat mortgage (Central Trust Company and A. L • Mason, trustees), in V. 46, p. 45; of 2d mortgage (Cent. Trust Co. of N. Y. and Robt. C. Bell of Cnd.., trustees), in V. 54, p. 444. Guarantees $2, 500,000 Northern Ohio 5s-see that company. Second mortgage bonds for $500,000 were sold in Sept., 1896, for air brakes, couplers, eto. leaving $1,025,000 in the treasury. LATEST EARNINGS.-January 1 to Nov. 30 (11 months): 11 monthsGross. Net. Fixed charges. Bat., surp. 1897.... . ..•...... $3,125,998 $1,310,107 $661,288 $648,819 1896.............. 3,057,247 1,291,929 640,164 651,765 ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual m-eettng is held at Peoria on first Wednesday in October. Annual report for 1896 was given in V. 64, p. 1221. The traffic is well distributed, only 7 per cent being coal. Average rate per ton per mile in 1896 was 0·618 cent. 0 ov~er:eugig "ilv1!~!\nto~~~ee :i:~~aed~e~~::: Year end. Dec. 31. 1896. 1895. 1894. 1893. Lo11.isville, Ky., and New Albany, Ind.• and 5 miles of belt line in Gross earnings .. . .••. $3,344,274 $3,IH9,10i $3,345,403 $3,512,620 Louisville; also owns Louis. & New Albany Ferry Co. and N. Albany S treet Car Co. The New Albany Belt & Terminal road was acquired by Net earnings .••.. $1,198,097 $1,368,675 $1,251,902 $1,258,379 Louisv. Ev. & St. L. m February, 181J7. - V. 64, p. 423. Cnterest on bonds.... 471,703 467,500 455,333 444,972 RECEIVERS.-John MacLeod, F. w. Tracy and s. M. Felton. Balt. North. Ohio int. guar. 125,000 Dividends ..•••.••..... (5)592,000 (5) 592.,000 (5) 592:ooo (5) 592,000 & Ohio 8. W., the Southern Ry. and Louisville New Albany & Chicago (now Chicago Indianap. & Louisv.) have acquired a block of Balance, surplus. $9,389 $309,175 $204,569 $221,407 the second mortgage and terminal bonds for the purpose of controlling the property. St,e V. 62, p. 1087; V. 63, p. 500, 601. Foreclosure sale Calvin B. Brice, N. Y., President. (V, 64, p. 371, 1221.) bas been ordered, but no date set, and in January, 1898, case was pend• Lake Shore & Michigan Southern Rallway.-(Su Map i ng in Federal courts.-V. 64, p. 82. N. Y. Oentra!-.J-Operates from Buffctlo to Chicago with branches. The INTEREST PAY.M.ENTS.-First mortgage interest due Sept. 11, 1896, system, well shown on the map, is made up as below. The main line was paid Nov. 11, 1897, at Louisville Trust Co. or Louisville, Ky. {540 miles) includes 26 miles between Toledo and Pamlyra, Mich., EARNINGS.-For year ending June 30, 1896, gross, $225,010; net under lease from the Erie & Kalamazoo. $83,393; charges, $113,810; balance, def., $30,417. In 1894·5, gross, Road, owned, direcay. Miles. Leased, [,rsee this Oo .. ] Mites. $207,546; net, $71,723. (V. 64, p. 82; V. 65, p. 620, 976.) Buffalo, N. Y., to Chicago, ill .. 540 Kalamazoo A. & G. R.. ... ••• 59 Keokuk& Des Moines Ry.-Owns from Keokuk, Ia., to Des Sundry branches ............... 326 Jamestown & Franklin .••••• 51 Moines, ca.., 162 miles. Leased for 45 years from October I, 1878, to Entire stock o-wned. Mahoning Coal RR . . . • • . • • • • • 50 the Chicago Rock Island & Pacific Railway, th~ lessee to pay 25 per Detroit & Chicago (see below). 35 Erie & Kalamazoo (26 m.) .••• Text. oeBt of the gross earnings, but guarantees the interest (not the prin• Detroit Monroe & Toledo .•.••• 55 Detroit Hillsdale & s. W ... ,r 65 cipal) on the bonds. Stock is $1,524,600 8 per cent preferred and $2,· Kalamazoo & White Pigeon... 37 Fort Wayne & Jackson .•••. ,r 98 600,400 common (par $100), a majority of which is held by the lessee. Northern Central Michigan ..•. 61 Sturgis G. &St. L ....•••.•••..•. 36 Grand tot. oper. Jan.1,'97.1,440 DIVIDENDS.- i 1893. 1894. 1895. 1896. 189'1. On pref. p. c. 5 2·4 95 cts. 90 cts. None. Also owns 8 miles, Silver Creek to Dunkirk, leased to N. Y. C. & St. L. Of the main line 490 miles has double track. By control of "Nickel Rental for year to Mar. 31: In 1892-93, $151,700; in 1893·94, $151,· Plate" the Lake Shore has still another line from Buffalo to Chicago. 624; in 1894·95, $137,500; in 1895·6, $139,521; in 1896·7, $139,521. On Dec. 1 , 1897, 27 miles of Detroit & Ohioago were sold to Detroit Keokuk & Western RR.-Alexandria, Mo., to Van Wert,Ia., 143 miles; operates to Keokuk:, 5 m. Organized in 1886 after foreclosure. & Lima Northern. ORGANIZATION, &c.-A consolidation on Aug. 16, 1869. The N. Y. Ch. & In 1895 the entire capital stock and bonds of the Des Moines & Kansas City, extending from Des Moines, Ia., to Cainesville, Mo .• 112 St. Louis {Nickel Plate) road has been controlled by ownership of stock since 1882, Lake Shore now owning $6,240,000 of its common, miles were purchased. Advance account of Des M. & K. C. to Jan. 1, $6,275,000 of its 2d preferred and $2,503,000 of its 1st preferred stock. 1897, $880,000. The company also controls and leases the Mahoning Coal RR.,see Lake DIVIDENDS. - i 1888. 1889-90. 1891. 1892 to Oct. 1897 incl. Shore "System" belowl and owns (besides the entire stock o the proPer cent. 5 1 O 2 2 p. c. yearly (A&O) prietary lines) $2,675,696 Pittsburg & Lake Erie stock. .A Vanderbilt EARNINGS-IO mos., 5 1897 ............ Gross, $347,457; net, $105,984 road having a 1arge competitive businee.s. Jan. 1 to Oct. 31. i 1896 ............ Gross, 330,266; net, 116,893 CAPITAL BTOCK.-The stock has remained at $50,000,000 since ANNUAL REPORT.-R~port for year ending Dec. :n, 1896, was in V. 64, p . 1087, showing gross, $395,281; net, $120,043; interest on notes, 1871. The guaranteed stock of$533,500 carries 10 per cent dividends DIVIDENDS.-Since c1888. '89. '90. '91. '92. '93 to Feb., '98 (incl.) $17,188; construction and equipment, $3,769; dividends (2 p. c.l, 1887. P. Ct. 5 4 5 5 612 612 6 yearly (3 F. & A.) $80,000 ; balance, surplus, $19,086. In 1895, gross, $380,624; net, $125,435. President, F. T. Hughes, Keokuk, Iowa. (V. 65, p. 924.) BoNDs.-Interest on the consol. :tl.rst mort. is paid on coupon bonds J. & J., on registered bonds Q.-J. The first consol. or the bonds prior Knoxville Cumberland Gap & Louisville Ry.-Knoxville Tenn., with tunnel at Cumberland Gap, to L. & N. at Mid.dles- thereto are redeemed each year by $250,000 contributed to the sinking fund. The bonds outstanding are given above less the amounts held in boro, 75 miles; branches, 7 miles. Part of road (Knoxville to Cumb. Gap, 70 miles) was purchased by the Southern Ry. and part by Louis• the sinking funds, which amounted to $6,500,000 Dec. 31, 1896. The consol. mort$'age of 1897 (United States Trust Co .. N. Y., and ville~ Nashville in April, 1896. A mortgage for $1,500,000 w a s exeJohn T. Dye of Indianapolis, Ind., trustees,) is for $50,000,000 of 312 c uted m March, 1897. V. 62, p. 683; V. 63, p. 36r. per cent gold b onds, t a x free, a uthorized to retire the several issues of Knoxville & Ohio RR.-Owns from Knoxville, Tenn., to Jellico 7s maturing from 1898 to 1903 (see abstract in V. 64, p. 1182) Tenn., and branch, 69 miles. Operated by Southern R ailway as p ar' amounting to $43,192,000, and the balance, $6,808,000 for use in re · of its system. Stock is $1,122,200; par, $100. Southern R ailway funding said bonds a nd for general purposes of the company. The o wnA $767,000 of the stock pledged under its consolidated mortgage mortgage covers 829·54 miles of m a in line and branches-a considor 199-1. EARNINGs.-Year ending June 30, 1896, gross, $tl96,126; erable portion being double tracked-and 181 ·11 miles of leased lines. n e t, $224,863; interest, $120,000 balance, surplus, $104,863. In 1894· The refunding of the first 7s into new 312. per cent consols will effect 95, gross, $464,665; net, $143,389; interest, $120,000. a saving in interest charges, when entire $50,000,000 are outstand• Lake Erle & Western 'Kallroad RR.-(SeeMapJ.-Owns San- ing, of $1,273,440 a year. See refunding plan in V. 64, p. 469, 610, d'Uaky, 0., to Peoria1 pi., 420 miles, and bra.nob to Minster, 10 miles; and also V. 66, p. 82. To January, 1897, $25,125,000 of 312s had been ianapolis to Micnigan City, 162 miles; Fort Wayne to Connersville llsted..-V. 64, p. 1224. branch to Rushville, 133 miles; total owned, 725 miles, of which GUARANTIES.-In addition to securities in table above, company ~ 69 steel; leased from Oct. 1, 1895, the Northern Ohio RR., Akron to guarantees by endorsement on each bond $1,000,000 Cincinnati & :Delphoa, 167 miles; total operated, 892 miles. Springfl.eld 1st 7s, described under Cl. Cin. Ch. & St. Louis. See a.lao HISTORY, ETc.-Company formed in 1887 after foreclosure of the Detrolt Hillsdale & S. W. and Fort Wayne & Jackson. La.ke Erie &Western Railway. InMarch,18871 purchased. Indianapolle Nothing has been charged to construction or equipment account since Peru & Chica"'o, 162 miles, and in June, 189u. acquired Fort Wayne 1883, the outlays therefor charged to operating expenses amounting tu Oin.. & Louisville. (Bee V. 50, p. 590.) The terminals at Indianapolis, 1896 to $816,302, and in 1895 to $1,615,954 for new equipment, and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis !':ii-; ~:t~t ---- - - ---- --- - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ; ~ rJ.) .... rg ~ I • /✓ MAP OF THE y LAKE ERIE & WESTERN RAILROAD A.ND ITS CONNECTIONS. JANUARY, 18Q8,j 77 .RA.IlliOAlJ STOCKS Al'fD BONDS. Sub11crlber11 will coufer a ~reat favor by giving i:nunedlate notice oC any erro r discovered in these Tables. Bonds-Prtnol INTEREST OR DIVIDENDS. RAILROADS. Due, Miles Date Size, or Amount Rate per When Where Payable, and by pal,When Par of Stocks-Last; For explanation of column headings, &c., see notes of Whom. Road. Bonds Value. Outstanding Cent. Payable Dividend. on first page of tables. Lake Sh-Ore System-Mahoni::f' Ooal RR.-Btock.... Preferred stock, guarantee 5 p. c. Bee text .. .. . 1st M., Youngs. to And., etc., guar. p.&i.(end) ... c LearJenworth Terminal Ry. & Bridge-lat M.,Jold. Le:arJ. Top. fl s. W.-lstM.,lg.f.1:ar.byAt.&lgby n.P. LehightlHudsonRiver-lst .,g.,int.red'c'dto5p.c. 43 43 43 .46 ----$50 ..... iss4 1893 1882 42 1881 63 1887 01 Text. '79·'81 &2ci'Ms: 7 1880 Wawayanda Ri. 1st mort~a5e ....... . ... . ........ Leh. & Hud. R.Gen.M. $3, O ,000, g.(see text) . c .. .... 1890 Lehigh & New Engt'd-Slate Valley RR., 1st mort.. .... 1886 1895 1st mort., $1,0 0,000, gold ........................ :Lehigh Valley-Stock ($106,300 is 10 p. c. pref.). 1st mortgage, coupon andreglstered .............. ioi 2d mortgage . ...................................... r 101 1870 Con. M., coup. a.n.d re~s., $4,762,000 are 4¼s. c&r 285 1873 annuity, $2, 38,000 are 4.¼s ........ .. ... 285 1873 do 1897 Mtge. and Coll. tr., f!,, call at 107¼ .. . ... G P.c*&r Lehilh &N. Y., lstM.,$2,000,000, g.,~p.&i.c*&r ii"i 1895 Leh. al. of N.Y., lstM., gold, gu. p. & 1.(end.)c*&r 283 1890 31 1891 Leh. Val. Ter., lstM.~old,gu. p.&i.,end .. C.c*&r 60 1880 Easton & Amboy,lst .Easton to P.Amboy,guar. 12 1895 Easton & No., 1st M., gold, guar. by L. Va.l .. c*&r 1892 Delano Land 1st M., gold, guaranteed ............ Middlesex Valley, 1st mort., $600,000, gold .... c* "'2·2 1892 Penn. & N. Y. Can. &RR.-lstm., endors ... c*&r. ·· -· 1866 1888 Consols (seetext) guaranteedp.&i.(end.).GPr Elmira Cortl'd & No. 1st f.ref. mort., gold...... c* i2·0 1884 1st M., fold, guar. p. & . (end.) ........... . ..... 120 1884 Cana.No. stM., g.,gu.p.&i.byE.C.&N. (V.66,p.82) ..... 1886 Morris Canal stock, 4% guaranteed 999 yearR .... . .... Preferred stock, 10 p. c., guar. 999 years ....... w~~f¥!uf fst ($240:ooo 2ds):::::: .... isss ---- ---· .... 50 1,000 1,000 1,000 1,000 1,000 500 &c. 500 &c. 1,000 500 &c. 1,000 50 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 500 &o. 1,000 1,000 1,000 1,000 1,000 1,000 ···--100 100 $1,500,000 661,850 1,500,000 600,000 1,380,000 800,000 209,120 385,000 65,000 584,000 61,500 403,000 40,441,100 5,000,000 6,000,000 10,400,000 12,350,000 5,000,000 2,000,000 15,000,000 10,000,000 6,000,000 51 ,000 1,154,000 211,000 1,500,000 8,500,000 750,000 1,250,000 300,000 706,700 903,600 10 in '97 F. 5 J. J. 5 5 g, J. 4 g. J. 5 g. J. 5 g. J. A. 6 6 J. 5 g. J. 4 J. 5 g. J. ...6.. 7 412&6 4¼&6 5 g. 4 g. 4¼g. ~ g. 4¼g. 5 g. 5 g. 7 4,4¼, 5 6 g. 5 g. 6 g. 4 10 &A. N. Y., Gr'd cent. Btat'n. Feb. 1, '98, 7~ & & & & & & & & & & & J. J. J. J. J. J. O. J. J. J. J. N. Y., Union Trust Co. do do N. Y,, Central Trust Co. Juli, '93, coup. last pd. N. ., Nat. Exch. Bank. do do do do do do do do Phila,, 927 Chestnut St. J.··&·:o. R:fili.atofflce; cp.Bk.N.A. M. & 8. P a. Of., 228 Bo. 3d St. J. & D. R~.at otttce;cp.Bk.N.A. J. & D. P a .. Of.,228 Bo. 3d St. Philadelphia. M.&N. M. & B. Phil.,Leh.Va.l.Of.&N.Y. J. & J. N. Y.,Merch.N. Bk.&Ph. A. & 0. do do M.&N. Phila., Of., 228 So. 3d St. M.&N. See Off., 228 Bo. 3d St. do do J . & J. M.&N. N. Y., Central Trust Co. J. & D . Phila., Bk. N. America. A. & 0. Phila., Lehigh Val. RR. do do A. & 0. do do A. & 0. do do J. & J. F. & A. Phil. office, 228 B.3J. St. F. & A. do do Jan., '98, 2~ July 1, 1934 Jan. 1, 1923 July 1, 1912 July 1, 1911 fflo '& ½&½~ Jan. 1, 19().0 July 1, 1920 July, 1 , 1916 July 1, 194:, 1893 June 1, 18.9 8 Sept. 1, 1910 Dec. 1, 1923 Irredeemablfl. May 1, 1997 Sept. 1, 194:i> July 1, 1940 Oct. 1, 1941 May 1, 192& Nov. 1, 19~ Jan. 1, 1932 Nov. 1, 1942 June 1, 1906 Apr. 1, 1939 Apr. 1, 1914 Apr. 1, 19141 July 1, 1906 Feb., '98, F eb ., '98, 5 2;t RR. (leased) has outs tanding on its 4 miles or road $500,000 of firs• mort. 50•year 5s (F. &A.) due 1939. HISTORY.-A reorganiza tion July 1, 1895, of the Pennsylvania Poughkeepsie & Boston, sold in foreclosure Dec. 14, 1894. STOCK AND BONDS.-Capital stock is $1,500,000, par $50. Mortgage is for $1,000,000 gold 5 p. c. 50•year bonds, of which $375,000 repre-sen'(; purcha se price and balance for improvements and extensions.. -(V. 61, p. 112; V. 62, p. 134.) Lehigh Valley RR.-( See MapJ-Main line, Jersey City, N. J., op, posite N. Y. City, to Buffalo, N. Y., 444 miles; branches to Audenrled Tomhicken, Hazleton, &c., 732 miles; Lehigh & New York RR., 115> mues; State Line & Sullivan Railroad, 24 miles; total main line, 1,315 miles; branches, eto., 853 miles. Total system 2,155 miles; secondl track, 542 miles. Trackage: Penn. RR., 13·6 miles; N. Y. Central, 11> miles; sundry trackage, 31 ·8 miles. Hl.STORY, ETc.-Opened a through line of its own from New York t<> Bu1falo Sept. 1, 1892. Lease to Reading ended Aug. 8, 1893. In Maroh., 1897, arranged with J. P. Morgan & Co. of N. Y. for a general readjus~ Net earnings .... $6,806,428 $6,467,802 $6,447,816 $6,371,803 men'(; of tlnances, including the holding of voting power for a larg& {$6,822,614 $6,860,794 $6,781,158 b1ock of the stock.-See V. 64, p . 517,754. Net,incl.oth.inc'me~ 606,922 644,759 629,119 Rentals paid........ $3,006,650 COAL PROPERTY.-The Lehigh Valley RR. Co. owns 3,619 acres of" 3,117,745 3,134,370 3,1 51,947 coal lands and all the ($650,000) stock of the Lehigh Valley Coal Co . Interestondebt.... 53,350 which in December, 1893, owned antbraoite coal and surface lands: 53,350 53,350 53,350 Dtvid's on guar. s'k. Dividends .......... (6) 2,967,990 (6) 2,967,990 (6) 2,967,990 (6) 2,967,990 Est'd. yield . Total acres. Ooal acres. 124,000,000 7,242 Owned in fee . .................... 15,217 $949 Perpetually leased ............... 8,123 $60,325 $54,410 $778 ,438 8un,lus over divs. 111,000,000 5,741 47,00v,OOO 1,708 President, S. R. Callaway, Cleveland, Ohio.-V. 65, p. 27,327,367, Term leases .. . ................... 1,708 50,000,000 4,519 924, 1024, 121 '7; v. 66, p. 82,134. Controls through ~took owned .. 9,229 364.) J JJ8' p. 62, (V. tons. 30,000 about capacity dally 54, Collieries Lake Shore ~y11tem.-1'Iahonina- Coal RR.-Owns from Youngstown to Andover, O., and branc'ii, 50 miles. Leased in per• Hazelton Coal Co. (chartered in 1896) stock is owned and its $2,0 ,, .p . 137. 4, 6 v. guaranteed-see owned•are also 5s mortgage t firs petulty for 40 per cent of gross earnings t-0 Lake Shore, which Jan. 1, 000 The Coal Co. shipped from collieries owned 2,613,725 tons in 18961896, owned $865,900 common and $399,500 preferred stock. 1894-95· in tons 2,619,960 1895·96, m tons 97, 2,tH9,757 '95 to Feb., '98. DIVIDENDS.-?. 1889. '90. '91. '92. '93. '94. '90, '91. '92 '93. n >LB 5 412% 5 4 12 812 8 8 10 (Feb.7%,Aug. 3 %) DIVIDENDS.- t '86. '87. '88. '89, On common. sin< 514 4 5 5 5 5 4¼ 4 '85. P. ct. 5 Since The preferred stock certificates are 5 p. c. guaranteed and contain (trustee, Fidelity Ins ,,nmce 1873 of mort. consolidated BONDS.-The . company of a clause making them redeemable at par at option For 1896, rental, $268,396; surplus over int. and 10 p. c. on com. and Trust & 8. D. Co. of Phil.) is for $40,000,000, of which $12,000,000 are reserved to retire $11,000,000 prior liens when due. The " oonpon 5 p.c. on pref., $8,962. In 1895 rental $285,743. (V. 64, p. 8 toj 5 .) and regls'(;ered" bonds a.re not subject to call, but prior to Nov. Lancaster & Chester Ry.-Narrow Gauge-A 3·foot gauge road 13, 1893, were convertible at option of holders into bonds of thethirdl from Chester to Lancaster, S. U., 29 miles. A reorganization in Aug , ~er1es, these last being annuity bonds and irredeemable, nev-er fallin~ 1896, of the Cheraw & Chester RR., sold in foreclosure in June, 1896. .iue except in case of default. All these issues are equally secured. Oapital stock is $50,000; par, $50. First mortgal!'e $25,000 7s due The $15,000,000 mortgage and collateral trust ss of 1897 were auJan. 1, 1917; int. J.&J., coupon bonds $500 each, all issued. General thorized to provide for floating debt and for .future improvements,. Manager, W. H. Hardin, Chester, S. C.-V. 63, p. 458. $7,000,000 (which may bear a lower rate of intere t than 5 per cent), Leaven-worth Terminal Ralhvay &: Brldge.-Owns high• being reserved for improvements or acquisition of stocks or bonds of · way and railroad bridge (opened Jan. 1, 1894), 1,110 feet long, over other companies at $1,000,000 a year after 1900. The mortgage , Missouri River at Leavenworth, Kan., and valuable terminal property covers 791 ·69 miles of single track, including branches and sidfugs in that city. The mortgage contains a sinking fund provision. Kan- real estate in Philadelphia, and also stocks and bonds or various com :· sas City St. Joseph & C. B. (Chicago B. & Q.) and Chicago R. I. & P. panies. Lehigh Valley bonds with lien prior to these bonds may be, use the bridge at an annual rental of $18,000 each, under a 30•year extended or new prior lien bonds issued, but not to increase the aggrecontract from 1894, .and Chicago Gt. Western from Sept. 1, 1895, for 30 ~ate principal 1mm or rate of interest of e1u•·h bonds excApt as provided' m the conso~date_d mortgage. List or collateral pled~ed to secure· years; rental $17,500. Capital stock, $600,000. (V. 61, p. 556.) bonds was given m V. 65, p. 1114. The bonds are subject to call Leaven-worth Topeka & South Western Ry.-Owns from 10712 p. c.-see " General Finances" below. Leavenworth ti() M erlden Junction, in Kansas, 4 7 miles. Union Pacific GUARA.NTIES.-Easton & Vorthern RR.-RoadfromBelfastto Eas1.on ce1M1ed operating this road in March, 1894, but road h a s been in con• tinuous operation. C. T. MoLellan appointed receiver April 20, 1894 . Pa... 8 miles; branch to Lehigh Valley RR. at South i,;a sto~ 4 miles' Bill of foreclosure filed in April, 1894. Stock, $1,380,000. Coupons Lea ed for 5 y ears from Aug. 1, 1893, to Bangor & Portiland Ry" due Jan. 1, 1894, not pa.Id. Accounts payable $1,046,350 Jan. 1, 1894. Capita l stock is ;:j,300,000. Lehigh Val. guarantees bonds. (V. 62, p.135.) In 1895·6 gross $43,741; deficit from operating $4,216.-V. 62, p.186. Elmira Oortland & Northern RR.-This road, with the Canastota Lehigh & Hudson River Ry.-Owns from Greycourt, on Erie Northern, runs from Elmira to Canastota and Camden, N. y 14(), ·• The stock, $2,000,000, is owned-V. 62, p. 364, 1177. miles. BB., to Belvidere, N. J., on the Pennsylvania. RR., 63 miles, Proprietary liDes: Orange County RR. (entire stock owned-no bonds issued), Hud• Lehigh Valley Railway Oo. of New York.-Owns road from Buff&Jo so• Junction to Maybrook, N. Y., on P.R. & N. E. (Poughkeepsie Bridge, N. Y., to near Sayre, Penn., 175 miles double track, and branches 1.& 13 miles; S. E. & P. RR., Phillipsburg to Easton, 1 mile; trackage, Ithaca, Auburn, Cayuga, etc., 111 miles; total, 283 miles. Stock a ll Penn. RR., EelT1dere to Phillipsburg, 13 miles; total oper., 90 miles. owned by Lehigh Val. RR. Mortgage abstract in V. 51, p. 114. (V. 65,. GENERAL Fl.NANCES.-Btock, $1,340,000; par, $100. Warwick Val· p. 412, 1071.) ley 1st mort. covers 15 miles of road, and bonds mature October 1, Lehigh Valley Terminal Railway. -Owns double·trackroadfrom South 1900; 2d mortgage covers 22 miles and bonds mature April 1, 1912. Plainfield, N. J., to Jersey City, withaboutl25 acres at Jersey City and a Loans and bills payable Dec. 1, 1897, $409,500; car trusts, 6s, $61,430. large water front there, etc.; its stock of $10,000,00(1 ls owned by LeJune 30, 1897, $584,000 general 5s were outsta nding and an ad• Valley RR. (V. 53, p. 640, 880.) Car trusts $1,000,000. di ·onal issue of $500,000 was authorized for floating d e bt, etc. Middlesex Valley.-Naples to Geneva, N. Y., 29 miles. Bonds due ANNUAL REPORT,-Fiscal y ea r ends June 30. Report for 1896-97 1942, g uaranteed, principal and interest (endorsed).-V. 62, p. 134. was in V. 65, p. 3 25. Coa l and coke f orm ed 51 per cent of the t otal Morris Oanat. - Leas_ed for 999 years and dividends guaranteed. tonnage in 189€-9, . Bonds all owned by Lehigh Valley. Water supplies city of Wewark with Orange Oo. Net. Oharges. Bal.,Sur. water. Bee V. 50, p. 137. Net. Grns~. Year. Pennsylvania & New York Oanal & Railroad.-Leased for 99 yea.re $2,194 $142,551 $53 $144 ,692 1896-7 .. . .. $327,076 10,620 from December 1, 1888, to Lehigh Valley, which has assumed its debt 148 ,729 4 ,198 155,151 1895-; ... 370,972 12,883 i.nd owns all its stock. Consol. mortgage bonds o.r 1888 are reserved to 1 40,335 4,189 1 49,0~9 89,--. ,. . . . 392,911 take up prior bonds when due. The consols include ~,000,000 of 5 Grn,r 1311 Burt, Preside-nt, 80 Broadway, N. Y. City.-V. 65, p. 325. per cents, $3,000,000 of 4s, $1,500,000 of 4¼s.-V. 62, p. 950. Lehigh & New York.-N. Y. State Line near East Waverly to Fa~ Lehf~h &: New England RR.-Operates roa d from Slatington Pa., to vamP,bell Han. N. Y., 96 miles, of ~hich t}?.ree secti~ns. aggre- haven, on Lake Ontario, 115 miles.-V. 61, p. 558, 750; v. 62, p. 134. Rochester Southern RR.-Rochester to Hemlock Lake N. y 30·16 (ating 44 miles, belong to other compames, leavm g 52 mlles owned. N. Y. Susq. & W. operates New Jersey Division (Campbell Hall to miles. Controlled through ownership ot stock. Capita.I' stock 1~ $800 _ ' '!alnesburg, 61 miles), and Lehigh Va lley RR. opera t es Pennsylvania 000 (par $100); f1mded debt $425,000. .'ivision (Hainesburg to Sla tington, 35 miles.) Campbell Connecting , Lehigh Valley Ooal Oo.-See "Coal Property" above. $126,223 in 1896, a~ain st $36,856 for construction, these items being exclusive of expenditures forrenewals. Profit and loss surplus Jan.1 , 1897, $1 L,535,220. Low grades permit large train loads ; average for 1896, 321·6 tons, against 318·5 in 1895. In January, 1898, $20,448,000 of the 7 per cents due in 1903 and earlier had been converted on certain terms (see V. 64, p. 469, 610,) into the new 3 12s, thus reducing the fixed char~es $588,875 per annum, or 1 ·17 per cent on the capital stock-see V. 66, p. 63. ANNUAL REPORT.-Fiscal year ends December 31. Annual meeting 18 held the first Wednesday in May at Cleveland. The annual report for 1896 was published in V. 64, p. 885. Figures below for 1897 are pa1tly estimated. Tratfi,c.-or the 13,662,419 tons carried in 1896, coal and coke contributed 31 per cent, ores 9 p. c., grain 7 p. c. 189i. 1895. 1896. 1897. Yeari1 ,440 1,440 1,440 1.440 Miles operated...... $19,557,870 Total gross ea.rnings.$20,293,013 $20,193,957 $21,016,035 Oper. exp. & ta-x:es . . 13,486,585 13,726,155 14,568,219 13,186,067 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis e: a• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis o Wntortov,,n oCnmden MAP OF THE LEHIGH VALLEY RAILROAD RAU,ROAD STOCKS AND BONDS. JANUARY, 1898.J 79 subscribers 'W'lll conf'er a great f'avor by giving hnmedlate notice oC any error discovered In these Tables. Bonds-PrinoJ INTEREST OR DIVIDENDS. RAll,ROADS. Miles Date Size, or Due .Amount Rate per When Where Payable, and by pal,When Par of For explanation of column headings, &c., see notes of Stocks-Last Outstanding Road. Bonds Value. Cent. Payable Whom. on first page of tables. Dividend. ·- - - - - - - Leh. Vatley -(Oon.J-Snow Shoe, 1st M., not guar.r L .V.CoalCo.lstM.$12,000,000,~.s.f.,notdrn.c*&r L. V., gold, car trusts, $50,000 ue each F.&.A.c* Car trusts, $500,000, due $25,000 cash F.&A .... Lexington d: Eastern-1st M., $1,000,000, gold .. . c• General mort., ~old; incomes to Feb.1, 1900 . . r Litchfield Oa1·rol & West.-Receiver's certificates. lat mortgage ($10,000 per mile) gold ........... c* Little Miam~St'k,com.,gu.8 p.c.,99 yrs.,P.C.&St.L. Street con. 2d mort. (now 1st.) ................... c .... --·· ---· . --· ·92 .i-;'2 2 84 84 I:~~~e~t°i;~J:·dts:ooci,oooi·coiivei:tibie:::::~ Little llock cf Memphis-First mortgage, gold ...... c 133 28 Little Schuylkill N av. RR. d: Goal-Stock (renta l gu.) Long Islan4-Stock ................................ lat mort., main line, L.I. City to Greenport,&c.c* i'is 2dmortgage .............. _............... . ....... o* 155 Consol. mortgage, gol<a_ $5,000,000 ............... 156 General mortrge, gol ....................... C.c" 163 Metropolitan erry Co. 1st M., 01d, red. at 110.c"" L. I. RR. M. on ferry for $2,75 ,000, gold ... c.o* Mortgage bonds of 1932 for $500,000, gold ...... ·1s Debenture ($1,500,000) gold, not subject to call.. ...2 New York & Flushing lstmortiage, assumed ... . Brooklyn & Montauk 1st M., $2 0,000 are 6s .. . c* 76 76 2d M., g., assum., Bush. Sta. to Eastp. & brs.o' Long Island City & Flushing lat M,. assumed .. c• 12 19 Consol. mortgage gold, assumed ........... . .. c' L EA.BED LINES, PRINCIPAL OR INTEREST GUA. RANTE .New York & Rockaway 1st mort., int. only guar.. 9 Smith. & Ft. Jefferson, lat mortgage, uar. p.&i. . L.I.RR. No. Sh.Br.consol.M.$1,500,00 ,gu.p.&i.o• N. Y. Bay Ext. RR. 1st M. gold, gu. p. & i., end.. c 6 .... 6 3 nii - ---· GENERAL FINANCES.-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 w ere sold to J.P. Morgan & Co. to provide at once for floating debt, new ~onstruction a nd working capital, and $3,000,{000 may be so used durmg the next two or three years and d;l,000,0uO a year for seven years after 1900.-V. 64, P·. 75 4 . On Nov. 30, 1897, a 3orued interest. and rentals, $1,539,774; m1soell aneous accounts, $2,010,103; una djusted taxes , $426,843 . . Cash a!J.d cash assets, $4,221,273; open accounts, etc., $1,897,454; bills rece1v• a ble and call loans, $541,471. R eal estate mortgages, $381,852. •For gu~ranteed securities not outstanding see v. 66, p. 186. In July , 1897, E. P. Wilbur resig ned a s President and Alfred Walter was elected; at the same time C.H. Coster, N. Y., and E.T. Stotesbury, Phila., entered the directory. Mr. Wilbur remains a s director. CAR TttUSTS.-For 2,000 box cars of 60,000 pounds, in 1896 were issued $1,000,000 car trusts, maturing $50,000 each Feb. 1 and August 1 to Feb. 1, 1906, inclusive: mortg age trustee, Girard Life Ins. Annuity & Tr. of Phila. The $500,000, series of 1896, cover 1,000 coal oars and a number of stock and combination cars.-V. 62, p. 1087. .A.NNUA.L Rl<lPORT.-The fiscal year ends November 30. The report for 1896-97 was given in V. 66, p. 181, 186; see a.lso editorial, p. 158. :Yearenil. Nov. 301897. 1896. 1895. 1894. Earnings from coal. $8,560,418 $8,623,574 $8,470,859 $8,391,542 Miscel. freight....... 7,403,471 7,472,104 6,849,062 5,982,858 Passengers........... 2,672,547 2,556,536 2,316,540 2,104,677 Mail, express, etc . .. 922,630 989,683 927,993 851,517 ---c-- ----·- Total gross._ .... $19,559., 166 $19,641,897 $18,564,454 $17,330,594 Op. exps.,inc.rentals 14,413.330 14,710,895 14,028,453 13,320,829 ----- - - - - - ----- Net earnings.... $5,145,836 $4,931,002 $4,536,001 $4,009,765 Inc. from invest., 841,492 898,346 &c. , net............ 1,036,288 676,159 Total net income $6,182,124 $5,607,161 $5,434,347 $4,851,257 DeductState taxes ....... .. 360,000) Bal. of int. account 25,117 ~ 673,366 589,694 Los ·'! on Mor. Canal, 239,935 J etc .•••. _......... ·Int. on bonds and 4,4 84,033 4,294,380 fixed rentals ... - .• 4,744,205 Int. Leh. Val. Coal 710,204 590,650 596,625 Co. bonds .. - ...... ----- Total charges... $6,079,461 $5,748,049 $5,480,699 Balance ....... ___ .. sur.$102,663 dt'.$140,888 sur.$46,217 ....... President (July, 1897), Alfred Walter. Finance Committee: .Alfred Walter,E. T.St,otesbury, C.H. Coster,E. P. Wilbur and Joseph Wharton. -(66, p. 82, 12 9, 15!:f, 181, 184, 18 6.) Lexington k Eastern Ry .-owns from Lexington, Ky., to Jack son, Ky., about 92 miles. A reorganization of the Kentucky Union, sold in !oreolosure in March, 1894. Stock is $500,000; par, $100. Mortgage trustee, Central Trust Company, New York. General mortgage is for $2,500,000, of which $1,000,000 reserved to retire the firsts; trustee, Continental Trust Co., New York. Loans and bills payable June 30, 1897, $48,199. EARNINGS.-11 months 51897 ....... . .. Gross , $188,771; net, $61,445 Jan. 1 to Nov. 30. (. 1896 ......... Gross. 178,250; net, 52,985 Year ending June 30, 1897, g ross, $193,001; oper. expenses a nd ta.xes. $143,001; interest on 1st 5s, $50,000. In 1 895-96, gross, $217 ,231; net, $51,392; interest, $50,000. (V. 59, p. 697.) Lhna Northern Ry.-See DETROIT & LIMA NORTHERN RY. Lltchtield Carrollton k Western RR.-Owns Barnett to Co• lumbiana,, Ill., 52 miles. This road was formerly opera,ted by the Chica.go Peoria & St. Louis. Joseph Dickson is now receiver-see V. 62, p. 949; V. 61, p. 1064. Stock, $600,000; par $100. Receiver's certificates, $125,000. For year ending June 30, 1896, gross, $63,546; net, $6,991 ; taxes and misoel., $3,794; balance, $3,{196. In 1894·5, gross, $59,547; def. under operating expenses, $19,3~8. (V. 62, p. 40, 949.) Little ll.llaml RR.-Owns Cincinnati, 0., to Springfield, 0., 84 miles; bra.nch, Xenia, 0., to Dayton, O., 16 miles; leases, Columbus & Xenia RR., Xenia, 0., to Columbus, Ohio, 55 miles; Dayton & Western RR., Dayton, 0., to Indiana State Line, 38 miles; Ohio State Line to Riohm.ond,Ind.,4 m.; Cin. St. Connecting RR., 2 m.; tot. operated, 199 m. LEASE.-Ol1 Dec. 1, 1869, leased to Pittsburg Cincinnati & St. Loma, tnow 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 8'0ok a.nd interest on debt. There is $100,000 6 per cent permanent oapita.J.ized debt; interest J. & J. Lessee's report for this road shows net less to lessee: In 1893, $204,871; in 1894, $221,927; in 1895, $259,044; in 1896, $305,896. Stock authorized, $8,000,000. Boims.-In January, 1890, authorized $3,000,000 7 per cent bonds for betterments, and also $3,000,000 stock, into which the bonds shall be convertible.-V 64, p. 803. Little Rock k lUemphls RR.-Owns Little Rock, Ark., to Missie• alppi River, opposite Memphis, 133 miles. Of the coupons o.u~ dept. 1, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis · $500 $500,000 5 g. is9s l ,OOO&c 10,297,000 5 1,000 1896 800,000 5 g. . 5 g. 1896 1.000 425,000 1,000 1895 1,000,000 5 g. 1895 l ,OOO&c 1,500,000 5 g. .... 125,000 ...{Jg. 516,000 1886 i~ooo 50 4,943,100 8 1864-8 1,000 275,000 6 1,000 1882 1,500,000 5 714,000 1892 1,000 7 1887 1,000 3,250,000 5 g. 50 2,487,850 5 g. 50 12,000,000 ...7.. 500 1,121,000 is6s 1878 100 &c 268,703 7 1,000 3,610,000 1881 5 g. 1,000 3,000,000 1888 4 g. 1887 500 &c 1,250,000 5 g. 1,000 1892 1,500,000 412g. 1,000 1892 325,000 4 g. 1,000 1894 1,500,000 5 g. 1,000 1880 125,000 6 1,000 1881 1,000,000 5 &6g. 1,000 1888 600,000 5 g. 1,000 1881 600,000 6 1,000 1887 650,000 5 g. ED. 500 1871 250,000 7 1871 500 75,000 7 1,000 1892 1,425,000 5 g. 1,000 1893 200,000 5 ~- Philadelphia. & J. & J. N. Y. and Philadelphia. & A. Phil.,Girard L.I.A.& Tr. & A. Phlladel phia. ,J. & J. N. Y., J. K. Tod & Co. F. &A. Text. J. J. F. F. J.--&.. J. Q.-M.Io Various M.&N. A. & 0. M.& 8. J. & J. M:·&--N. F. & A. Q.-J. J. & D. M.&N. M.& 8. J. & D. J. & D. M.& 8. M.& 8. J. & D. M.&N. M.&N. Jan. Jan. Aug., Aug., Jan. Feb. July,'93, coup. last paid Cinn.,Offlce, lat Nat.Bk. do do N. Y., Bank of America. do do In default. Phila., Of., 410 Walnut 1, 1910 1, 1933 '98-1906 '98·1906 1, 1900 1, 1935 . ....... Jan. 1, 1916 Deio. 10 '97,2% 1898 Nov. 2, 1912 Apr. 1, 1932 Dec. 1, 1937 J a n.13,'98,3% Nov.2,'96,1% N. Y.,U.S.Mort.&Tr.Co. May 1, 1898 do do Aug. 1, 1918 do do July 1, 1931 do do June 1, 1938 do do Nov. 1, 1937 do do Mch. 1, 1922 do do June 1, 1932 do do June 1, 1934. do do Mch. 1, 1920 do do Moh. 1, 1911 do do June 1, 1938 do do May 1, 1911 do do May 1, 1937 A. & 0. M.& 8. Q.-J. J. & J. do do do do do do do do Apr. Sept. Oct. Jan. 1, 1, 1, 1, 1901 1901 1932 1943 11892, part only were paid. In June, 1893, Rudolf Fink was appointed receiver. Extension, Little Rock to Wistar Junction, I. T., proposed an d the Memphis Little Rook & Pacific was organized for that purpose. See V. 64, p. 234. Foreclosure sale postponed to March 3, 1898. REORGANIZATION.-Bondholders' committee consists of F. P . Olcott, Chairman, 52 Wall Street, N. Y.; AuJCustus D. Juilliard, James H. Smith, Henry De Coppet and Henry K. Sheldon. Secretary, James H. Smith 10 Wall st. N. Y. Depositary Central Trust co. N. Y. ' ' ' . ' STOCK, $3,250,000; par, $100. EARNINGS.:--Year ending June 30~ 1896. gross, $361,093; _net, $13,989; other moome, $6,202; charges, $24,105; bala~oe, detimt, $3,914. In 1894·95, gross, $382,007; net, $46,809; other moome, $5,766; chges., 16,371.-(V. 65, p. 1115.) Llttle ·Schnylklll Navigation KR. k floal.-Owns from Port Clinton to Tamanend, 28 miles; branches, 4 miles. Re-leased on Dec. 1, 1896, to Phila. & Read. Ry. for 999 years, and rental reduced from 7 p. c. on stock to 5 p. o., gold from .Tan. 1, 1897; in Jan., 1898, a dividend of 3 p. c. was paid, 12 p. c. IJeing extra. Lessee pays also a ll taxes and $5,000 yearly for organization expenses.-see V. 63, p. 1159 1 Long Island RK.-Operatcs praotic.,ally all the steam surface roads on Long Island, adjoinmg New York City, the system including : OwnsMiles. Leases- <iT Which see.) Mi les. LongislandCitytoGreenport. 95 New York& Rockaway.-- ..... 5 Long Island City to Gt. Neck .. 141 N. Y. B'.k:lyn & Man. Bea.ch ,r .. 19 Bush wick to Sag Harbor....... 95 Sundry branches .. _.... __ ...... 80 Total June 30, 1897 ........ 375 Double track ............. - ...... 108 Total owned................. 284 BiJe tracks ...................... 120 LeasesOperates-earnings kept separate, Brooklyn & Jamaica RR....... 10 N. Y. & Rockaway Bea.ch RR. ,r 14 North Shore Branch RR. ....... 30 Pro,-pect Pk. & Coney Island. ,r 10 Montauk Ext. & N. Y. Bay Ext. 27 ORGANIZATION.-Improvements - In January, 1897, control of 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 & Co.: Kessler & Co.; Frederic G. Bourne; George F. Baker, and othel'S, The new management has extensive plans for furnishing rapid transit direct from New York City to all points east of ,Jamaica (covering the distance from New York to Jamaica in twenty minutes) and also fo-r a tunnel to New York-eee V. 64, p. 83,234,754, 1001; V. 65, p. 512. DIVIDENDS.- S 1882. '83 to '90. '91. '92. '93. '94, '95. '96. '97. Per cent. l 1 4 yearly 412 5 5 414 4 4 None BONDS.-The ferry mortgage for $2,750,000 covers all the real and per bOnal property pertaining to the company's ferries (34th Street a.nd Jamee Slip); $1,250,000 bonds being reserved to retire the Metropolitan Ferry 5s. As to debentures see page 2 of SUPPLEMENT of April, 1895 . GUARA.NTIES.-ln addition to guaranteed. bo:rds in table above the Long Island guarantees 5 per cent on the $650.000 New York Brooklyn & Manhattan Beach prefnred stock as part rental; also 412 p. o. on $50,000 P. P. & So. Brooklyn stock, and 412 p. c. on $82,500 of the New York & Coney Island stock. GENERAL FINANCES.-Deo. 1, 1 897, notes payable, $945,000, against $1,600,000, on June 30, '97; mort. on real estate, $291,238; equip. trust, $200,000. Arrano-ements for funding the floating d ebt have been under consider a tion a nJ (January, 1898,) we1 e expected to be shortly carried out . _Renewals are with 76 to 80·pound steel rails. As to change of control m 1897 l;tnd contemplated improvements, see organization above. As to Atlantic Ave. improvements and tunnel to New York City see V. 64, p. 469; V. 65, p. 512. LATEST E AR~INGS.-July 1 to Nov . 30, fl.ve months: L. I. RAILROAD PROPER (375 MILES.) fi mos. Gross. Net. 0th. inco. Oharge.'I. Balance. 1897 .......... $2,204,322 $866,322 $86,864 $513,788 $439,398 1896 .... ...... 2,029,196 831,088 67,653 521, )49 377,192 LONG ISLA.ND SYSTEM (399 MILES.) 1897 .......... $2,446,179 $9g3,351 $86,864 $571,823 $498,392 1896. ... ...... 2,283,~94 932,552 67,653 577,964 422,241 ANNUAL REPORT.-Fisoal year ends June 30. Annual meeting is held the second Tuesday in April. Report for 1896·97 was in V. 65, p. 512. '.l'he new ~anagement is ohar,gi_n ~ again~t operating expenses many items for l!Dprovements of a kind previously charged to capital account. This accounts for the decrease below m net earnings: Yearend~ngJune30- 1897. 1896. 1895. 1894. Gross earmngs ........ $3,897,319 $3,962,799 $4,014,019 $4 143 433 Operating expenses .. 2,751,969 2,541,636 2,593,323 2;690:085 I I I --- Net earnings ...... $1,145,350 $1,421,163 $1,420,696 $1,453,348 Total net ...... . ....... $1,332,510 $1,576,817 $1,583,969 $1,555,746 Interest on bonds..... 658,660 658,411 658,410 589,528 T a xes.................. 210,794 200,973 174,531 172,726 Rentals................ 310,466 271,160 240,088 240,768 Interest and discount, 50,385 16,389 6,789 33,069 Dividends ............ (2)240,000 (4) 480,000 (4) 480,000 (4¾)570,000 Balanoe ......... def.$137,795 def.$50,116 sur.$24,151 def.$50,345 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. RAILROAD SYSTEM. [VOL, LXVI. J A..:.~U ARY, 1898,J RAILROAD STOOKS AND BONDS. SI Sub•crlbers will conf'er a great favor by giving Immediate notice of any error dl•covered In these Table•• RAILROADS. For explanation of column headings, &o., see note11 on fl.rat page of tables. Long I11Zand-(Oon.)-PRIN. AND INT. GU.A.RANT'D MontaukExt. RR. lstM., g .•.•. · -····-········· ·o* N. Y. & Rook. B, 1st M., $1,000,000, gu. p. & i.. P. P. & C. I., 1 t and 2d ($96,000 2ds) gu. p. & i. Los Angeles Terminat-lst mortgage, $1,500,000 .. La. Southern-Mias. ferre Aux B. & L., 1st mort.o LouiBiana Western-lat mortgage, gold ........... o* Louismlle Bridge Oo.-Stock ........................ Louisv. E'Dan. ti St. Louis Oonsol.-Reoeivers' certs. lat mort. E. R. & E ........ ·-············-········· 1st mortga~e, gold................. ·- ·······-··· ·o* 2d mort.• with voting power, gold, unaaaented.o~ Hunt. Tell. City & C. RR. lat M., gold (see text)o* Illinois & St. Louis lat M. (matured-see text) . . . Ven.& Car. lat Ma., due Dec.,1900 &Apr.1,1902.o• L. E. & Bt. L. oonsol. mort., §iold ($8,000,000) .. <'' General mortp;afie for $15,0 0,000, gold ........ o* New Albany Be t & Term. RR. lat M. end., gold.. Louis.H.«ESt.L.-St'k($2,000,000iapf.5%non-oum.) lat M., $2,500,000, $old ........................... Louisv.«E Jeff.Br. Oo.- 5,000,000,g.gu. p.&i.,end.c• Louisville & Nash'VilZe-Btook .••••• .•••.•.••..•.. Consol. lat mortfage (now lat lien) •............ c* Memphia&Ohio atM.,ParistoMem.,g.,guar .. o· Mem.Clarka.&L.latM.,.£,Guthrie to Paria,Tenn.c • Ceoilian Br.latM.,Ceoll.toLouia.,a.f.,dr'nat 100.0· E.H.&N.lstM.,HenderaontoNaah.,g,dr'natllO.o* Louis. & Nash. general M. gold, drawn at 110.o* L. C. & Lex. 2d m. s. f. not A:ln, Louis. to N ewp't.c• General mort. L. C. & L., iold (formerly 8a) .o· L. & Nash.bda'{S.&N. .A.la.R .,2dm. as ool.ffold.o* t~~aio~O~. i1~~1i!tie•~<8t~~ht{A~ l?~{it:~: INTEREST OR DIVIDENDS. Bonds-Pr1no1Miles Date Size,or Amount pal,When Due. of of Par Outstanding Rate per When l~ere Payable, and by Stocks-Last Road. Bonda Value. Whom. Dividend. , Cent. Payable - - ---· 21 ___,______ ____ 1895 $1,000 1,000 1887 '86-'91 1,000 44 1891 .... 1883 112 1881 1,000 100 ·1·0 $600,000 5 i;c. J. & J. N. Y., U. 8. Mort. & Tr. Jan. 1, 1945 984,000 5 g. [M. & 8. do do Sept. 1, 1927 436,000 412 Semi an do do 1926-1931 1,500.000 5 J. & J. . . ...... .. July 15, 1931 26,000 7 A.. & o. . . . .... . . . 1903 2,240,000 6 f!. J. & J. N. Y., 8. Pao.Co., 23 B'rd July 1, 1921 1,500,000 7 in 1897 F. & A.. Louisville, Ky. Aug.16,'97,3% (1) 424,500 6 900,000 6 i. · ·&· ·j_ July,'96, pd. Deo. 31,'96 June 1, 1921 1,000 1,000 2,000,000 6 g. A. & 0. Apr.,'95,pd.Sep.30,'95 Oot. 1, 1926 1,000 670,000 6 g. A. & 0. Apr.,'95,pd.Sep.30,'95 Oot. 1, 1936 1,000 300,000 6 g. A. & 0. Apr., '94, coup. last pd. Oot. 1, 1927 500 200,000 6 (8) J. & D. Dec., '94, coup. last pd. June 1, 1895 1,000 300,000 6 Various Int. to Apr., 1897, paid. 1900-1902 1,000 3,797,500 5 g. J. & J. July, '93, coup. last pd. July 1, 1939 1,000 2,400,850 4 g. M. & 8. Sept., '93, coup. Jast pd. Mar. 1, 1943 300,000 6 g. J. & D. June,'93,coup. last paid June 1, 1920 100 4,000,000 to be hel d in vot ing trust for ten years. See V.62,p.138 500 2,100,000 5 g. J. & J. N. Y.Offlce,45 Wall St. Jan., 1946 1,000 3,000,000 4 g. M. & 8. N.Y.,J.P.Morgan&Oo. Moh. 1, 1945 100 52,800,000 .•..•• ·-····· N. Y., 120 Broadway. Aug., 1893 1,000 7,070,000 7 A. & 0. do do Apr. 1, 1898 $&£ 3,500,000 7 g. J. & D. London and New York. June 1, 1901 £200 1,996,660 6 g. F. & A. do do Aug. 1, 1902 $1,000 545,000 7 M. & 8. N. Y., 120 Broadway. Moh. 1, 1907 1,000 2,030,000 6 g. J. & D. do do Dec. 1, 1919 1,000 10,322,000 6 g. J. & D. do do June 1, 1930 100 &c. 892,000 7 A. & 0. do do Oct. 1, 1907 1,000 3,258,000 4¼ g. M. & N . do do Nov. 1, 1931 1,000 1,960,000 6 g. A. & 0. do do Apr. 1, 1910 1,000 580,000 6 g. M. & 8. do do Moh. 1, 1920 1,000 5.000,000 6 g. J. & J. no do Jan. 1, 1930 i:ooo --·- i897 ·72 1881 182 1886 182 1886 2~ 1887 20 1875 7 1880-2 353 1889 353 1893 2 1890 i65 i896 .... 1895 419 i868 130 83 46 151 802 175 175 189 45 141 1871 1872 1877 1879 1880 1877 1881 1880 1880 1880 President (elected April, 1897), W. H. Baldwin, Jr. Vice-President, O. M. Pratt. Secretary and Treasurer, A. C. Bedford. Directors elected April, 1897: James Timpson, Vioe•President of U. 8. Mortgage & Trust Co.: W. G. Oakman, President of Guaranty Trust Co.; J. G. K. Duer; J. 8 . .A.uerbaob, or Davies, Stone & Auerbach; F. G. Bourne, President of Singer Manufacturing Co.; W. H. Baldwin, Jr.; <J. M. Pratt, L. C. Ledyard, F. L. Babbott, Dumont Clarke, President <>f American Exchange Nat. Bank; George W. Young, President of U. S. Mortgage & Trust Co. and August Belmont.-(V. 65, p. 512, 869.) Louisiana Southern KK.-New Orleans south a.Ion~ the Missiseippi River to Shell Bea.oh, 29 miles, with a branch to Belall', 24 mUea• :Successor of the New Orleans & Southern, sold in foreclosure on Oot, '26, 1896. See N. 0. & So. item, V. 64, p. 83. Loui8lana Western KK.-(See Map of Southern Paciftc.)-Owna from Lafayette, La., to Orange, Tex, 112 in.ilea; branches (2), 35 miles; Ciotal 147 miles. Operated under lease by the Southern Pacific Co., which owns all but $50,000 of the $3,360,000 stock. The lessee pays all charges and turns over to this company 7 per cent of the total net profits under the omnibus lease. EARNINGS.-5 months, ( 1897 .......•. Grosa, $318,965; net, $124,432 July 1 to Nov. 30. 5 1896 ......... Gross, 397,661; net, 157,604 In year ending Deo. 31, 1896, gross, $939,701; net, $374,502. In 1895 gross, $1,092,999; net, $512,574; surplus over charges, $361,776; a.mount of net profit due this company, as per lease, $145,855. Louisville Drld~e Co.-Owns bridge 5,294 feet long over Ohio River at Louisville, Ky., and about 2 miles track additional in Loms-v1lle. Used by several railroads. Penna.. RH., Louiav. New Albany & Chio., eto.), under contracts ~uaranteeing 8 p . o. dividends and operating expenses. Surplus earmnga are paid ba~k to roads using bridge. STOCK is $1,500,000, ofwhioh Penna. RR.owned Jan. 1, 1897, $901,· :300. No bonds. Billa payable June 30, 1895, $187,128. Dividends in 1896, 612 p. c.; in 1897, February, 4 p. c.; Aug., 3 p. c. EA.RNINGS.-In year endin~ June 30, 1896, gross, $322,585: net $170,405; other income, $2,700; charges, $21,206; dividends, $120, (>00. In 1894-95, net, $276,185.-(V. 60, p. 1105.) proper condition, in addition to $250,000 for air brakes and couplers before Jan. 1, 1898. (V. 62, p. 499.) Floating debt Deo. 31, 1895, $433,212, in addition to receivers' cer• tifloates, and $842,813 unpaid coupons. (V. 62, p. 499.) EARNINGs.-Jan. 1 to Dec. 31 (12 months), gross, $1,457,811 in 1897; $1,49\,247in 1896. For year 1896, gross, $1,488,800. ANNUAL REPORT.-The receivers' report for 1895 gave a statement or the earnings of the different divisions separately-See V. 62, p. 499. For year ending Dec. 31, 1895, earnings of whole road were, gross, $1,509,746; net, $384,016; taxes, $87,400; interest on :floating debt, $23.342; balance for bond interest, $273,274. In 1894, gross, $1,391 128; net, $235,115. In 1893, gross, $1,666,104. - (V. 66, p. 134.) Loul•vllle Henderson & St. Louis Ky.-Ro..A.D.-Louiaville to Henderson Ky., 142 miles, of which West Point to Louisville, Ky 21 miles, is trackage; owns also Irvington to Fordsville, Ky., 44 miles HISTORY.-.A. reorganization June 1, 1896 (per plan in V. 62, p. 138 of the Louisville St. Louis & Texas, sold in foreclosure. SECURITIES.-The stock is to be held by John J. McCook, Brayton Ives and Oscar Fenley, for ten years, in a voting trust, unless earlier terminated by unanimous vote ot trustees. See terms V. 62, p. 136. Of the new bonds (trustee, State Trust Co., N. Y.), 11;400,000 are reserved to build extension to Louisville. First coupon Jan. 1, 1897. EARNINGS.-11 months, l 1897 .. ...... Groaa, $464,172; nf:'t, $110,478 Jan. 1 to Nov. 30. 51896 ........ Gross, 415,999; net, 102,912 In year 1896, gross, $453,956; net, $112,818. In 1895, gross $444,586. The interest charge is $105,000 yearly. Year, Gross Operating Real Net E.-ctraordin'ry Rec'rs' to July 31. Earn'gs. Expenses. .l!Jarn'gs. Expenses. Net Res'lt. 1894-95 ..•. $415,506 $294,917 $120,589 $40,872 $79,717 1893-94*... 406,400 298,483 107,917 27,864 80,053 *From date of receivership Aug. 7, 1893, to July 31, 1894. -(V. 62, p. 138,233,277,589,683,869, 1040, 1177; V. 63, p. 30, 76.) Louisville & .Te.ff'ersonvllle Brldo-e Co.-One-half mile long and the approaches one mile; opened for all business Jan. 1, 1896. The company also owns about 40 acres of land in Louisville and 100 acres in Jeffersonville. The Big Four and Chesapeake & Ohio use the Louisville Evansville & St. Louis Consolidated KK.-Oper-< bridge. Capital tttook is $1,425,000; par, $100. ates LOuisville, Ky., to East St. L., Ill., 275 miles: branches to Evans• ville, Rockport, etc., in Indiana, 93 miles; also owns and operates BONDS.-The mortg~e of 1895 is for $5,000,000 (trustee U. B. Trust Venice & Carondelet, 7 miles; total, 375 miles, of which 352 miles Co. of N. Y. and Union Trust Co. of Indianapolis); bonds for $2,000,000 owned and 16 miles trackage; 359 miles are steel, from 56 to 70 pounds. are reserved for future construction, eto.; the bonds are guaranteed by Portions ma.in line operated under trackage rights; Louisville to New the Chesapeake & Ohio and Cleveland C. C. & St. L. roads, in whose in.A.lbany, 6 miles: Walnut Hill to Centralia. 71g miles: East st. Louis to tereat the entire stock is owned. See V. 61, p. 559. Any defloienoy in st. Louis, 212 miles. The New Albany Terminal & Belt RR. was pur- interest is to be met one-third by the former and two-thirds by the latter. -chased in 1897 glving new terminal facilities in New Albany. It is -(V. _60, p. 302; V. 61, p. 27 559 568', V 62, p. 84.) thought the Belt will be operated separately. Used Kentucky & Ind. Loul8vllle & Na•hvllle KK.-(See Map.J-RO..A.D.-Opera.tea main Bridge and terminals at Louisville (since Sept. 1, 1897.) (V. 64,p. 423.J line from Cincinnati. o., to New Orleans, La., 921 miles, with branches RECEIVERSHIP.-On Mar. 25, 1896, George T. Jarvis was appointed to Bt. Louis, Mo., Memphis, Tenn., eto., 2,054 miles, making total sysreceiver to act from May 1. (Bee V. 62, p. 589, 726.) Foreclosure of tem proper June 30, 1897, 2,988 miles. The system includes: ti.rat and second mort§agea began in March, 1896.-(V, 62, P• 502.) In · L-.nes owned ab11olutely or Reported separately. Miles March, 1897, receiver scertifl.cateafor$324,500 were authorized. Addi- through entire capital stock. Miles. ,rNashville Flor. & Sheffleld ...• 107 tional certificates for $100,000 authorized in July, 1897, for air brakes, Louisville to Nashville....... 185 ,;Nashville Chatt. & St. Louia .. 904 eto. (V. 64, p. 1042; V. 65, p. 195.) Sun_dry other lines ·-·········2,453 ,rHenderaon Bridge .•...•..••.. 10 COl\IMITTEEB.-Oonsolidated Bondholders: Charles S. Fairchild, 44 Lines leased, de. · ,rGeor~a Railroad system ...•• 615 Wall Sti., N. Y., Chairman; Wm. L. Bull, James Stillman and W. H. ,rNashville & Decatur ..••.••• 119 Operated for other oo'a .. ·--··· 79 Payne and Mayer Lehman. Secretary, Osborn W. Bright, 44 Wall St., ,rsouth & North Ala. RR..... 182 Owned but leased to other oo'a. 70 N. Y. InJIJon., 1896, $3,347,000 first oonaol. 5s had been deposited. Otherlinea .•.... -········-···· 49 Do. Paducah & Mem. Div ... ... 254 Depositary, New York Security & Trust Co., 44 Wall Street, N. Y.-V. 60, p. 522; V. 61, p. 559. First Mortgage Bondh,olders: John M. Tota.I system proper .•.••• 2,988 Graham, John Stites, Alfred D. Foster; depositaries, International (1T Bee this company.) Total of all June 30, '97.. 5,027 Trust Co., Boston, o:- Fidelity Trust & Safety Vault Co., Louisville, ORGANIZATION, &c.-Thia company was ohar~red March 2, 1850, and Ky.-V. 64, p. 664. The Graham Committee commenced foreclosure opened between Louisville and Nashville November, 1859. Tne liabiliprooeedinga in Deo., 1897, the several committees having failed to ties for interest on the auxiliary roads are treated mostly as belonging agree on a plan-see plans in v. 65, 1220, and also V. 66, p. 134. directly to the Louisville & Nashville Co. .A. list of the securities owned Second Mortgage.-George W. Norton, J. F. Henry and James W. and in the sinking fund June 30, 1896, was in V. 63, p. 658. Georgia Bryan: depoaitaries, International Trust Co., Boston, or Louisville RR. (see Georgia RR. & Banking Co.) was leased in 1881 jointly to Trust Co., Louisville, Ky. In April, 1897, more than two·thirds of the Ctmtral of Georgia. and L. & N., but L. & N. claims tllat the Central eeconds had been deposited. (V. 64, p. 66 i, 799.) has forfeited its interest in the lease-see V. 65, p. 81. Evansville Roclc1Jort IE Eastern O"mmiltee.-Chairman Henry B. HanTerminals.-Jointly with Nashv. Chat. & St. L. leases termina aon, James R . Barret and R. Montfort; depository, Fidelity Trust & property in Nashville (belonging to Louisville & Nashville Termina Safety Vault Co., Louisville, Ky. A majority deposited. (V. 65, p. 69.) Co.) for 99 years from 1897. (V. 65, p. 278.) CAPITAL STOCK.-Common stock issued, $3,790,747; par, $100. (Bee For Henderson Bridge see Miscellaneous Companies. v. 56, n. 289, 413.) In January, 1897, $457,162 prefd. outstanding. BTOCK.-In July, 1891, it was voted to increase the stock from $48, BONDS.-llllnoia & st. Louis first 8s for $200,000, due June 1, 1895, 000,000 to $55,000,000 for purchase of Kent. Cent. RR., &o. Of the new · t t th t stock $4,800,000 was taken by stockholders of July 21 at 70, and were purchased, lmt not h a vi ng b een paid m eres accrue!! on em a July 1, 1895, $2,200,000 was held in the treasury. Further increase 6 p. o.-(V. 60, p. 967. Abstract oonaol. mort. in V. 49, p. 208. $ din N 893 v 5 9 8 Of the general mort. 4a, in Jan., 1894, $2,076,850 had been issued in stock to 60,000,000 authorize ov., 1 ,- • 7, p. 5 6, 09. in. exchange for preferred 11tock, settlement of E. & T. H. account, etc., DIVIDENDS ( '81. '82. '83-'87. '88. '89. '90. '91. '92. '93. 5None $577,000 were held as collateral for Joana and $695,400 were in hands Per cent. 5 6 3 None. 5atk. 5 atk. 6 5 4 4 { since of trustees to be issued for preferred stock. Ir. Oct., 1897, N. Y. Stock In 1890 of the 6 p. c. paid there was 4910 in stock. Exchange reported $2,432,000 listed, (See V. 56, p. 289, 413.) BONDS.-The Evansv. Hender. IE Nash'D. bonds are drawn at llObylot COUPON.-See table above as to coupons paid and unpaid. N. Y. annually in October, for payment Deo. 1 in amounts increasing eaoJ security & Trust Co. pays interest when ordered. tlve years until $150,000 per year la finally reached; in 1897, $40,000 GENERAL FINANCES.-The receivers' report for 1895 stated that about The Pensacota Division bonds are subject to a drawing sinkine funtl $1,250,000 should be expended by the year 1904 to put the road in $5,000 till 1900 inclusive then $10,000 and so increas~. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I INVESTORS' SUPPLEMENT. LVoL. LXVI. Subscribers -will conCer a great Cavor by giving tnunedtate notice oC any error discovered In these Tablel!I. RAILROADS. For explanation of column headings, &o., see notes on il.rst page of tables. Miles Date siz· e, or INTEREST OR DIVIDENDS. Bonds-Pr1nei Amount - - - - - - - - , - - - - - - - - - -1pal,When Due. of of Par Outstanding Rate per! When Where Payable and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. - - - - - ---- Louisville ct Nashville-(UoncludedJ- ---- - - - ----------I·------ N. 0. & Mob. Div. 2d M., N. 0. to Mobile, g ... "o 141 1880 $1,000 $1,000,000 6 g. J. & J. N. Y., 120 Broadway. Southeast & St. L. Div.1st Mort., gold. ........ o* 208 1881 1,000 3,500,000 6 g. M. & 8. do do 2d M., gold, East St. L. to Evansville & br .. o• 208 1881 1,000 3,000,000 3 g. M. & 8. do do 1st M. (50•year 5t, $15,000 p. m., gold........ o• 118 1887 1,000 1,764,000 5 g. M. & N. do do 1st mort., collatera trust ($7,000,000) gold.... c• . . .. 1888 1,000 5,129,000 5 g. M. & N. do do Unified mortgage for $75,000,000, gold .... o*&r Text. 1890 1,000&o 14,994,000 4 g. J. & J. do do L. & N. coll. trust, $12,000,000, call in 2 years.... l 898 ...... See text. . • . .... do do St. Louis property, 1st mort., gold, $650,000 ... c 1891 1,000 617,000 ··5· g. M. & 8. St. Louia, St. L. Tr. Co. Louisville Ry. Transfer 1st mortgage............. 286,000 8 M. & N. N. Y., 120 Broadway. L. &N. and Mob. &Mont.Jointbds., lstM.,g.c.c• 179 i895 1,000 4,000,000 412 g. M. & s. do do Pens.&At. 1st M .. gold,s.f.,dr'n at ll0assumed.o* 160 1881 1,000 1,976,000 ti g. F. & A. do do Paducah & Memp. Div. 1st M., gold, $5,000,000. 254 1897 . .. . . . As collateral 4 g. Kentucky Central-M~ysville & Lex. RR. mort... 49 1876 1,000 400,000 7 J. & J. N. Y., 120 Broadway. New mortgage ($7,000,000) gold ........ . llip.o* 220 1887 1,000 6,742,000 4 g. J. & J. do do So.& No.Ala.,lst M., s.f., not dr'n, guar. by L.& N. 189 187 3 £200 £792,600 6 g. M. & N. London, Baring Co.,L'd 2d M., gold, s.f., $2,000,000, (owned by L.& N.) 189 1880 $1,000 Own. L. & N. G g. A. & 0. N.Y., Office, 120 B'way. Consol. mort1rnge (for $10,000,000), I?-, guar.c* 189 1886 1,000 $3,958,000 5 g. F. & A. N.Y., Office, 120 B'way. Louin1lle ct Southeast'n-lst M., $2,500,000, gold. 1898 m 5 g. . ... . . ......... Lvkens Valtey-Stock. Rental pays 5 per cent..... 21 .... 20 600,000 5in 1897 Q.-J. S. Y., Office, 13 Wm. St. Macori.ctBirming.-Ist mortgage. $500,000, gold.c 97 1896 1,000 (1) 5 g. J. & J. Boston, Old Colony Tr. Macon Dublin ct Savannah-Stock $1,250,000.. ... 100 (1) Maine Central-Stock.............................. 100 4,9 4,800 6ii"isin Portand:Me:;·offi.ce. Loan for $1,100,000, Danville .June. to Bangor.. c 109 i868 100 &c. 756,800 7 J. & J. Bost., N.Rev. Bk.; Port. Extension 1st M., gold, Cumber1. .June. to Dan.. c 18 1870 500 &o. 496,500 6 g. A. & 0. do do 1st mort., consol., A. B. C. D. ($269,500 5s) .... c* l 304 1872 100 &c. 4,193,500 5 & 7 A. & 0. do do Do do do ($2,007,000 4s) .... o* 5 1872 100 &c. 3,532,000 4 &412 A. & 0. do do Collateral trust bonds for Mt. Desert Branch .... o 41 1883 1,000 669,000 5 J. & D. Bost., Am..L.&Tr.; Port. Sinking fd. 10·20s, gold, old 6s, ext. Feb. t. '95 .. c 1885 1,000 600,000 412 g, F. & A. Portland Tr. Co., Port. Improvementbonds,"A" and "B." gold, notmort. 1886·7 450,000 412 g. J. & J. Bost., N.Rev. Bk.; Port. Me. Cent. Eu. & No. Am. refunding mort., gold... 56 1893 1,000,000 4 g. J. & J. Boston and Portland. Portland&Ogdens. stock (2p. c.rental,999years) 109 .... 100 4,381,883 2 Q.-F. Portland, Me. Cent. Of. 1st mortgage. 1wld. interest guar ............... o 62 1870 500 &c. 800,000 6 g. J. & J. Bost., N.Rev.Bk.& Port. 4:..:.:j_ 0 i:ooo The general mortgage bonds of 1880 are subject to call at 110 in in· creasing amounts each year. In June, 1890, the "unitted" mortgage (trustee, Central Trust Compa.ny) for $75,000,000 was authorized, $41,917,660 bonds being reserved to retire all prior liens (none of the prior liens oau be extended) th_e bl'!'lance _for improvements, extensions (at the rate of $32,000 pe; mile. m~luding equi~ment), and for 0 tJ?.erpurposes. The mortgage oov• ers (beside~ 1,080 miles of road and Its eqmpment) $22,708,100 stock of comparues controll~d, and $1,100,000 bonds free from any lien. See abstract of mortgage m V. 51, p. 613. On June 30, 1897, company reported $24,202,000issued, of which $9,021.015 in the treasury. Total listed on N. Y. Stock Exchange $14,994,000 in January, 1898. Of Louisville Cincinnati d Lexington general mortgage bonds issue is now limited to $3,258,000. v. 63, p. 1010. ' Mobile ct Montgo'YY},ery-Loiiisvil~e cl Nas?i,ville Joint m01·tgage is for $5,000,000, a first lien on 17812 miles Mobile to Montgomery; $1,000,· 000 reserved for improvements. V. 6l, P• l96, 750. Kentucky Oentral ~ortgage abstract V. 45, p. 372. Pensacola ct .A.tlant1,c first mortgage bonds (assumed) are gradually being called for the sinking fund at 110: on June 30, 1897, $818,000 were held in the treasury, making total outstanding $2,794,000. Paducah ct Memphis Division bonds cover the line from Paducah to Lexington, Ky., and Memphis to Perryville, Tenn., 254 miles; mortgage is $5,000,000, of which $3,800,000 held by L. & N. and balance reserved for improvements-see V. 65, p. 652, 673. St. Louis terminal property bonds cover freight terminals. As to collateral trust bond, of 1898, see "general finances" below. Gu AR.A.NTIES.-Besides bonds in table, the Louisv. & Nash v. is responsl• blefor$2,100,000bondsanddividendson$2,305,582 stookofNashville & Decatur (which see); for interest on $300,000 So . Div. Cumb. & Oh1o, and for $2,096,000 Nashville Florence & Sheffield bonds. GENERAL FIN.A.NCES.-On June 30, 1897, bills payable were $3,031,628. (n December, '97, the company was arranging to provide for the floating debt and the funding of the consols due April, 1898 ($7,070,000), by an issue of $12,000,000 coll. trust bonds, due in 10 years but sub• jeot to call in 2 years, secured by Paducah & Nashville bonds and. the L. & ..N. unified bond:dn the treasury, deferring sale of L. & N. !s for better prices-see V. 65, p. 1173. On July 1, 1897, the company held $3,800,000 bonds on Paducah & Memphis Division in treasury.-V. 65, p. 652. On June 30, 1897, there was $2,200,000 L. & N. stock in treas· ury and also $9,20&,000 of "uni:fl.ed fours." Since July 1, 1894, tne "construction account" has been closed. In 1897 and 1898 the company will have refunded at a, lower rate of interest a.bout $10,000,000 of 7 per cent bonds. L ATEST E.A.RNINGS.-July 1 to Dec. 31 , six months, 1897 partly esti• mi1::i~~ths. Grosi;. Net. Oharges. Oth. inc. Oth. char. I Jan. 1, 1930 Mch. 1, 1921 Moh. 1, 1980 May 1, 1937 Nov. 1, 1931 July 1. 1940 1900-1908 Moh. 1, 1916'May 1, 1901 Sept. 1, 1945 Aug. 1, 1921 1947 Jan. 1, 1906July 1, 1987 May 1, 1903 Apr. 1, 1910,, Aug. 1, 1936 19'.!S Jan., '98, 114%,. July 1, 1946 Jan:i"•os;i¼% July 1, 1898 Oot. 1, 1900 Apr. 1, 1912 Apr. 1, 1912 .June 1, 1923 Feb. 1, 1905 .July, 1916·17 Jan. 1, 1933 Feb., '98, ¼%July 1, 1900 1 thern 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. 500; V. 64, p. 330. . Lynchburg & DurhaID. KR.-Merged mNorfolk & Western. lliacon & Birmingham Ky.-Owns Sofkee Junction to La Grange, Ga., 97 miles. A reorganization of Macon & Birmingham. Railroad sold in foreclosure Dec. 27, 1895, to Edwards & Parsons of Boston, Mass. This firm also holds 7.160 shares of the stock of the Georo-ia Southern & Florida which see 0 '. : • • ST~CK .A.ND BONDS,~Cap1tal stock 1s $500,000. First mort~age 1s for $000,000; trustee 18 Old Colony Trust Co., Boston. The mileage to be covered will be about 220 miles, of which 97 miles in operation. EARNINGS.-2 months, i 1897 ............. Gross, $9,319; def. $8,232: July 1 to Aug. 31. 5 1896 ............ Gross, 8,665; def. 4,052: In year 1896-97 gross, $61,970; deficit under operating, $21,087. In 1895·96 gross $65 081.-(V. 62 p. 1040.) ' ' ' ' lliacon Dublin & Savannah KK.-Owns road completed from Macon to Dublin, 54 miles; projected to Savannal:l, 99 miles additional. Owned by the Illinois & Georgia Improvement Company of Chicago. V. 60, p. 711,794,873. In year ending.June 30, 1897, gross, $64,278; net,. 7,550. In 1895-96 j?l'OSS, $56,079; net, $11,522; miscellaneous expenses, $1,552. Stock, $1,250,000; par, $100.-(V. 60, p. 1058.) lliacon & Northern Ky.-Absorbed in 1895 by Central of Ga. Ry. Maine Central KK.-Line of road, Portland to Vanceboro, Me., via Augusta, 251 miles; branches, Cumberland Junction to Skowhegan~ 91 miles; Bath to Lewiston and Farmington, 76 miles; branohesBelfast, Dexter, Bucksport and Mt. Desert Ferry (712 miles), 133 miles;. Poriland & Ogdensburg RR., Portland, Me., to Lunenberg, 109 miles;. small branches, 6 miles; Upper Coos and Hereford railways, Lunenberg, N. H., to Lime Ridge, Quebec:,1 108 miles; Bath to Rockland (including steam ferry, 6·10 miles,) 48 :miJ.es: total, 822 miles, of which 345 miles. owned, 4~9 miles operated under 999 year leases, and practically owned; 33 miles operated under50-year leases and8 miles ferry lines. ORG.A.NIZ.A.TION.-Stock for $2,516,000 is owned by Boston&Maine. DIVIDENDS- l 1882. 1883. 1884 to Jan., 1898Per cent 5 2 512 6 yearly BONDS, GUARANTIES.-Consols of 1872 are held in trust to retire all underlying bonds at maturity. There were also on June 30, 1897, $76,000 Shore Line 6s, due 1923 ;, also $150,000 Belfast & Moosehead Lake mort~age bonds, due 1920, not guaranteed, interest and sinking fund paid out of the rental. Jointly with B. & M, guarantees $300,000 Port. Union Station bonds. FLOATING DEBT.-Notes payable, $1,188,000 June 30, 1897, against $923,000 in 1896. The proposed fund.in~ of the floating debt was. deferred pending improved business condi ions. A.NN:1.A.L REPORT.-Fisca.l year ends June 30 (formerly Sept. 30). Annual meeting 3d Wednesday in October. Report for the yea1· ending June 30, 1897, was in V. 65, p. 821. Years ending June 3 01896. 1897 _ 1895. $4,985,318 $4,814,4.61 Gross earnings ................• $4,898,036 1,615,866 1,677,898 Net earnings ....... •············ 1,612,467 51,860 52,530 Other income................... 52,147 ---$1,667,726 $1,730,428 Net income . ·•••••••···•··· .$1,664,6l4 Interest......................... $657,060 637,834 662,772 649,516 646,766 Rents...... . .. . .. . . . . . . . . . . . . . . . 650,480 298,524 298,519• Dividends....................... 298,524 1897, esl'd ... $11,054,737 $3,760,162 $2,805,284 $286;, 44 $166,579 1896, act'l. .. 10,592,917 3,531,253 2,82t,681 216,892 5l,2.!2 Whloh leaves a balance over all charg for six months of $1,075,043 in 1897, against $674,242 in 1896. v. 66, p. 134. A ~~Tu.AL REPORT.-Annual meeting is held m Louisville the first Wed.o.J.u, nesday in October. Report for 1896-97 at length in V. 65, p. 664, 670. o.648 ~~irpplemf~~~:Y repor{s:5~age 65i894. Average mileage.... 2,981 2,965 2,956 2,956 Freight earnings ... $14,641,263 $14,324,906 $13,537,099 $12,901,l u Passengers.......... 4,291,735 4,666,751 4,370,154 4,600,961 Mail, express, etc.. 1,399,054 _ 1,439,309 _ _ _ _ _ _ _1,368,741 _ _ _ _1,472,262 ___ Gross earnings .... $20,372,307 $20,390,711 $19,275,994 $18,974,337 Net earnings•.......•. 6,523,090 6,885,505 6,998,221 7,110,552 Net, incl. invs'ts., &c. 6,950,154 7,319,877 7,361,494 7,382,840 $122,371 Balance, surplus........... $58,550 $81,852 Taxes paid............ 589,516 579,961 569,3:26 600,359 Interest and rent ...•• 4,981,993 4,983,096 5,013,738 5,065,277 -(V. 63, p. 599, 652; V. 64, p. 234, 1181; V. 65, p. 821.) Georgia RR. deficit... 25,440 37,870 108,264 24,784 l.U anchester & A.ugusta KK.-Road from Darlington to DenLoss on other roads . . 49,975 89,989 90,025 139,930 mark, S. C., 102 miles; Creston to Pregnalls, 41 miles; bran~hes 24. Adv's to S & N. A., etc. 129,387 64,910 704,556 miles; total, 167 miles. Part ol Atlantic Coast Line. Sinking fund paym'ts 194,663 186,547 175,000 STOCK.-Capital stock is authorized at $10,000 per mile of completed Burp. over charges.... $979,180 $1,377,504 $701),585 $1,552,490 road. Outstanding June 30, 1897, $693,200, of which $643,200 owned by Atlantic Coast Line Co. -(V. 65, p. 664, 6'70, 824, 924, 1173; V. 66, p. 81, 134.) BONDS.-First mortgage 5s are limited to $15,000 per mile and $200,· Louisville New A.lbany & Chlca~o Ky.-Reorganized as the 000 for terminals. Under a.joint traffic contract with thA Richmond Chicago Indianapolis & Louisville in 1897-which see. Fredericksburg & Potomac, Richmon,t & Petersburg, Petersburg RR., Louisville St. Louis & Texas Ky.-SEE LOUISVILLE HENDER- Norfolk & Carolina., Wilmington & Weldon, Wilm. Col. & Augusta and SON & ST. LOUIS RY. Florence RR., those comparues agree to set aside monthly 20 per cent Louisville & Southeastern Ky.-Road from Irvine to Ver• of gross receipts from traffic with Manchester & Augusta, same to be sailles, Ky., 62 miles. Extensions are projected from Irvme to Beatty- used each year to make up any detlcit for interest on M. & A. bondr, ville, 32 miles, and to the coal fields of southeastern Kentucky and Charleston & Northern division "B" bonds, $425,000, are guaranteed, southwestern Virginia. The company, it is stated, is authorized to they arft also endorsed by the North Eastern RR. and the Wilmington issue $2,000,000 stock. The tirstmortgage is for $2,500,000 of 30-year Columbia & Augusta RR.; they cover the 78 miles purchased at fore 5 p. c. gold bonds. Incorporated in Kentucky in Dec., 1897, as suc- closure of the Charleston Sumter & Northern. Atlantic Coast Line Co. guarantees $960,000 Man. & Ang. firsts, cessor to the Richmond N1cl:l0Jasville Irvine & Beattyville, sold in principal and interest. Bills payable June 30, '1897, $68,064. foreclosure. V. 65, p. 1~20; V. 66, p. 134. EARNINGS.-1.<'or year ending June 30, 1897, gross, $202,523; net,. Lykens Valley KR. & Coal Co.-Owns from Millersburg, Pa., to Williamstown, Pa.., 20 miles; branch, 1 mile; total operated, 21 miles. $48,30~; other income, $17,882; interest charges, $72,400; balance,. It is a coal road leased and operated by the Northern Central RR. since deficit for year, $6,209. In 1895-96 gross, $183,009; net, $11,578. July, 1880, a.nd previously by Summit Branch RR. New lease to Nor• -(V. 61, p. 1065; V. 64, p. ~87.) se;e8:I:~:::r1~~i f https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- ---- - -- .JANUARY, 83 RAILROAD STOOKS AND BONDS. 1898.J Subscribers -will confer a great Cavor by giving lnunedlate notice oC any error discovered In thet!le Tables. Bonds-Princl INTEREST OR DIVIDENDS. RAILROADS. Due, Miles Date Size, or Amount Rate per When Where Payable, and by pal,When Par Stocks-La.st of For explanation of column headings, &o., see notes of Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. on first page of tables. -- - - - - - - - - - - - - - - Maine Oen tra~(Oonr,ludedJ- Port.& Og d,, non. M.$20,000 p.m. (gu, by end.) . . o. European & N. Am. stock, 5 p. o. rental 999 years Dexter &Pisoata% uis stock 5 p.c. rental 999years. 1st M., Dexter o Dover, etc., guar. by end ...•. Hereford R'y stock (4 p. o. rental for 999 years) .. 1st mortg1~_f:6• guar. p. & i. (endorsed) ..•.....••• Upper Coos R. stock, 6 p. o. rental 999 years. 1st mort., ~ar. p. & i. (endorsed) .•...•••.•....•• Extension ., $21,000 p. m., guar. & i.(end.). Knox & Lincoln stock, guar., 5 p. o., 99 years .. . 1st M. Penobscot Shore Line RR. Co., assumed. K. & L. 2d mor~age (for $400,000) assumed . . . Dexter & Newpo , stook,5 p. o. after Nov. 25,'98. 1st M. (old 6s refund. in 1897) gu. p. & i. e nd,* Eastern Maine, stock, 412 p. ct., rental 999 yearR Manchester &.Augu sta--lstM.($960,0110guar.),g.c_. Charleston & Northern 1st mort. "B" :r;ua r ., gold. Manches. d!Law.-Stock,lOp.c.ren'ltill 937,B.&M. Real estate bonds (not mort.) int. gu. by B .& M·c Manhattan Etevated.-Consolidated stock ..... . ..... Metropol. El. 1st M., $600,000 p. m., assum'd.g,o* 2d mo~age (assumed) ........................ o* N. Y. El. eb.i secured by oonsol. mort. of 1890 . . Manhattan E evated consolidated mort., gold.. c* Mason Oity d! Fort Dodge-lstm.$15,000 p. mile, g. 107 114 17 17 53 53 22 22 33 48 48 48 14 14 18 65 78 i2 Bonds of 1880, secured by old morts.in trust, gold. Old 2d mortgage bonds, extended .......... .. •... * Cons. M. of '77 with 1st lien on 93 m. in Tenn., g.o* Consol. mortfage of 1877, gold ...•.•...•.......• o* General mor gage, gold .••...•................. c&r 293 B· Memphis d! Oharleston-Stook .....•.................. .36 18 18 32 32 92 200 293 293 293 $1,319,000 M.&N. 5 2,488,700 5 A. & O. 110,000 J. & J. 5 175,000 4 J. & J. 800,000 4 M.&N. 800,000 4 M.&N. 350,000 M.&N. 6 350,000 M.& N. 4 575,000 419 M.&N. 200,000 F. & A . 5 1,300,000 4 F. & A. 356,000 F. & A. 5 122,000 6to 5 M.& 8. 175,000 ...... is91 4 200,000 100 419 M.&N. 5 g. J. & J. i893 1,000 1,108 ,000 ..... . . 425,000 4 g. M& S. 1895 100 1,000,000 M.&N. 10 274,000 J. & J. i892 1,000 4 100 30,000,000 412 in'97 Q.-J. 6 g. J. & J. i878 £&$ 10,818,000 M.&N. 1,000 4,000,000 1879 6 1,000 1,000,000 M. & 8. 1886 5 1,000 24,065,000 4 g. A. & O. 1890 1,380,000 6 g. J. & J. 1886 100,&c. 25 5,312,725 isso 1,000 2,155,000 J. ..&.. J. 1,000 105,000 J. & J . 1867 7 1,000 1,400,000 7 g. J. & J. 1877 1,000 7 g. J. & J. 864,000 1877 1,00lJ 1,000,000 6 g. J. & J. 1884 1888 $1,000 100 100 i889 1,000 100 1890 1,000 100 is9o 1,000 1,000 1890 100 is9o 1,000 1,000 1891 100 .... lUanchester& La-wrenceKK.-Owns fromManohester,N. H., to Leased for 50 years from September 1, 1887, to Boston & Maine at a rental paying 10 per cent dividends. To June, 1895, a dividend of 50 p ct. was paid on the capital stock out <>f money received from C. & M. suit. (V. 62, p. 869.) Manhattan Ky .(Elevated).-RoAD.-Controls and operates all the .-alevated railroads m N. Y. City, its main track aggregating 32 miles. Besides these it owns and operates the Suburban R. T. RR., 3~ miles. HISTORY, ETc.-Formed Nov. 24, 1875. In May, 1891, $4,000,000 -stock was issued to acquire the Suburban Rapid Transit RR., owning a bridge across the Harlem River, and a road m operation to near 171st St., N. Y ., 212 miles. v. 52, p. 642. BONDS.-Oonsolidated 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 of $300,000 per mile of single and $600,000 per mile of liouble track. <See abstract of mortgage in V. 51, p. 248, and application to New York Stock Exchange in V. 52, p. 353.) Of the console ¢ he company itself in Dec., 1897, held $300,000 against " special ac• -eount" a nd $50,000 console to redeem convertible certificates. GENERAL FINANC Es.-Early in Janua ry, 1898, it was a nnounced tha~ electricity as motive power would be introduced w ithout delay. -see V. 66, p. 134. There are considerable claims pending l\gainst the company tor damage to property on the lines, and many of these are before the courts. See CHRONICLE V. 62, p. 414. A s to personal property ta x assessment in N. Y. City litigation, see V. 64, p . 799. Refundini of the $8,500,000 N. Y. Elevate d 7 s reduced the interest -charge $23ts,000 annually after J a n. 1, 1896. In Oct., 1896, $810,000 and in Jan., 1897, $282,000 (available for :improvements, etc.) console were listed, making total on list of $24,· -065,000 in October, 1897. DIVIDENDS.- { '84, '85, '86. '87. '88. '89. '90, '91·96, '97. '98 Since '83. P. Ct. 5 3 6 6 6 5 Bee below. 6 yrly. 4 12 Below In 1897, Jan., 1-½I p. c.: Apr., lp. o. (see V. 64, p. 517.); July, 1 p, c. •Oct., 1 p. c. In1898, Jan., 1 p. c. In 1889 1 in cash and 412 in scrip; in 1890, 412 cash and 112 scrip. ANNUAL REPORT-Annual meetlna is lleld the second Wednesday in November. Report for year ending 'lune 30, 1897, was given in V. 65, ip. 325, and for) ear ending Sept. 30, 1897, in v. 65, p. 923. Year ending June 301897. 1896 1895. Gross earnings ...... . .•••••.••.• $9,163,740 $9,256,931 $9,397,570 Net over opera.ting exp......... 3,861,389 3,725,973 3,983,605 Other income................... 180,276 232,520 287,135 Interest, rentals and taxes.... 2,707,016 2,840,397 2,748,694 Dividends....................... 1,500,000 1,800,000 1,800,000 .Meth11en (State Line), 2214 miles. I Balance after dividends... def.$165,351 def.$681,904 def.$277,954 Yr.Sep.30. Passengers. Earnings. Yr.Sep.30. Passengers. Earnings 11889-90 ... 185,833,632 $9,388,681 1893-94 .. 196,159,323 $10,138,143 1890-91. .196,714,199 9,959,710 1894-95 .. 188,072,645 9,745,927 1891-92... 215,122,575 10,908,579 1895-96 . . 182,437,244 9,352,115 1892-93 .. 219,621,017 11,137,051 1896.97 .. 183,184,641 9,359,732 -(V. 65, p. 278,325,778. 923,925; V. 66, p. 134.) Marietta & North Ga. Ky.-See ATLANTA KNOXVILLE & NORTH. Mason City & Ft. Dodge KK.-Owns road from Mason City, la., to Lehlgh, Ia., 88 miles, and branch, 4 miles. Stock authorized, $5,· -000,000; outstanding, $920,000; par, $100. In year ending June 30, 1896, gross, $168,327; net, $65,850; charges , $90,800; balance, deftcit 1 $24,950. In 1894-95, gross, $128,612; net, $23,180. Net curil'ent liabilities June 30, 1896, $842,352, including unpaid coupons, $828,000. President, M. C. Healion, of St. Paul. MeDlphls & Charleston KR.-RoAD.-Owns from Memphis to ~tevenson, Ala., 272 miles; branches to Florence, etc., 20 miles; leases to Chattanooga, 38 miles ; total, 330 miles-largely 56 pound steel. RECEIVERSHIP, ETC.-The Southern Railway Compa ny owned $2,-056,525 or the old stock, and under the agreement below mentione d h as arranged to acquire the property, is suing thereon its own securities. Receivers appointed in 1892, Henry Fink and C. M. McGhee. COUPON PAYMENTS-Coupons due J a n. 1, 1895, except on general mortgage, were paid Oct. 1, 1897, at Chase National Bank, New York. !SELIN PLAN.-The :plan of the Iselin Committe e as accepted by the Borg Committee provides for the transfer of the road to the Southern Railway (V. 66, p. 39), and under it will be issued: New Southern Ry. Di'Disional F,rst Mortgage 100-year gold bonds, to bear 4 per cent interest to July 1, 1901; the n 412 per cent to July 1, 1906, and 5 per cent thereafter ... *$6,500,000 To retire old 7 _per cent bonds, and to cover t he 292 miles of main line and branches, at $17,408 per mile................ .5,083,200 For betterments not exceeding $100,000 y early............. I,,µ6,800 Preferred stock of Southern Ry. for old bonds .•..••........•• 2,902,400 <Jash beino- $650 each for !i)28 $1,000 general mortgage bonds heYd by Borg Comm.1ttee................... ..•...••• • 603,200 Annual interest charge on the $5,083,200 new bonds [this https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ···-;·g. Manchester and Boston. Boston, B. & M. RR. N. Y., 195 Broadway. N. Y., Mercantile Tr. Co. do do N. Y., Mercantile Tr.Co. do do In default, Nov. 1. 1908 Oct.15,'97, 2.Ig J a n., '98, 2¼1% July 1, 1929 Nov., '97, 2% May 1, 1930 Nov., '97, 3% May 1, 1930 May 1, 1930 Feb. '98, 212% Aug. 1, 1920 Feb. 1, 1921 Sept., 1897 1917 Nov., '97, 214% Jan. 1, 1943 Moh. 1, 1915 Nov. 1, '97, 5% Jan. 1, 1922 Jan. 3, '98, 1% July 1, 1908 Nov. 1, 1899 Moh. 1, 1916 Apr. 1, 1990 July 1, 1926 See text. do do do Julv, 1892, last paid. Ja:ii:·1;·i9us Jan. 1, 1915 Jan. 1, 1915 Jan. 1, 1915 Jan. 1, 1924. Bos., N. Rev. Bk. & Bos. Bangor, Treas. Office. Dover, Me., Office. Bost. N. Rev. Bk., Port. Portland, Me. Cent. Of. Boston, Mass. Nat. Bk. Portland, Me., Office. Bost., N. Rev.Bk.; Port. Portland, Me., Office. Portl'd,Me.,Me.Cent.Of. Boston, Nat. Revere Bk. do do Dexter, Me., Office. ............ Rockla.ntt, Me., Office. Balto., Safe Dep. & Tr. I charge is to be $228,744 from July, 1!:l0l, to July, 1906, and $254,160 thereafter], until July 1, 1901...... ....... .. $203,328 131,769 -* This m a y be increased to $8,000,000, in order to build a line from Stev enson to Cha tta nooga. The exchange of old for new securities will be as follows: Balan ce surplus on basis of last year's operations........... Holders of Iselin Oert(tlc11tes of Deposit- ,---Will receive----Oa.~h. F'irsts. Pref. stk. Tennessee lien bonds, :first and second M. ?_ e xtended 7s for each $1,000 bond. . ..... 5 · · · · •• Con sol. mort. 7s do do . . . . . ..... . . Gen er a lmort.6s do do ...••• ....•• Com. st'k $100, paying $4 per $25 share .... _ H itders of Borg Oertificates of DepositGeneral mortg a ge 6s, $1,000..... ......... .. $650 $1 2 , 00 $800 $400 $1,600 $2,000 $10 a nd certificates to $5 { be r eturned and ass essment repaid. All old 7 p er cents ............................ { S~~:haf~~np~:~::l~f• or Stock certificates, $100 . ............. ... . . . .. EARNINGS.-5 mos., l 1897 . .•..... Gross, $650,635; net, $183,401 July 1 to Nov. 30. 51896 ......•. Gross, 583,674; net, 165,826 ANNUAL REPORT.-Fiscal year ends June 30. Report of the receivers for 1896·97 was in V. 65, p. 777. 1896·97. 1895-96. 1894-95. 1893·94. 1892·93. Gross . . . $1,360,602 $1,348,537 $1,202,273 $1,274,818 $1,520,241 Net..... 335,097 288,281 172,548 203,262 293,709 -(V. 65, p. 620, '1'1'1, 976, 1024, 1071, 1115, 1174, 1220; V. 66, p. 39,) Meriden Waterbury & Connecticut River KK.-Cromwell, Conn., via Meriden to Waterbury, Conn., 30 miles. Road is not now in operation, but it has been proposed to operate it by electricity. See report New England RR., V. 63, p. 698. Mexican Central Ky. Limited (Mexlco).-(SeeMap.)-Mileage -Main line Mexico City north to Juarez City, 1,224 miles, 407 miles on Tampico Division, 12 miles on Gua.najuato Branch, 161 miles on Guadalajara Division, 55 mll~s on Ameca Ext., 44 miles on Paohuoa Division, Bar extension 6 miles, 40 miles on Laguna Ext. and other branches 7 miles; total Dec. 31, 1896, 1.956 miles. .£.ti 56•pound steel. Extension from Jiminez to Parral, 56 miles, is proposed.-V. 65, p. 824. ORGANIZATION.-Incorporated February 25, 1880, under the general law of Massachusetts, and also holds a charter from the Mexican Government. Debt readjusted in 1889-see V. 48, p. 191, 292, 327. SUBSIDY.-Jan. 1, 1897, there was left of the subsidy in trust $3,250,645, to be used whenever necessary for the payment of principal and interest of the consolidated mortgage bonds, $300,000 having been so used in 1896. Of the $3,000,000 of Mexican Government bonds receivable under Tampico Harbor concession for a depth of 22 feet, $2,790,000 (in Mexican Government 6 per cent bonds) had been received 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. BONDS.-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, ls held as an investment by the trustee o.f the consolidated mortgage. See V. 52, p. 390. The consol. mort., 4 p. o., (trustee, Boston Safe Deposit &Trust Co.) covers the entire property,all old firsts deposited, and the subsldy earned and to be earned. (See abstract of mortgajl'e in CHRONICLE, V. 49, p. 177.) Both series of incomes are non-cumulative and secured by one indenture to the American L. & T. Co. First oonsol. incomes received 3 per cent interest July 10, 1890, and 3 per cent in July, 1891, and 1892, respectively; none since. The equipment bonds for $1,000,000 (issued in Nov., 1897), are secured by a mort. on the equipment purchased a ud the deposit in trust of $750,000 general 4 s . The company is to pay 5 per cent of the J,?rincipa l of the loan annually and a proportional amount of fours will be released. V. 64, p . 843. GENERAL FINANCES.-In May, 1896, $800,000 Consol. 4s were sold for improv ements. V. 62, p. 949. On Jan. 1, 1897, notes outstanding were $1,000,000, t he s ame as in 1895; interest due and accrued, $1,211,000; accounts pay able, $724,438. Notes and accounts receivable Jan. 1, 1897, $621,998; cash on hand, $1,274,194. Tampico Harbor Co. bonds of 1 894 for $3,396,000 (all owned by and in the treasury ot the Mexican Central) are guaranteed.-(V. 62, p. 869.) EARNINGS.-Mexican cur.?. 1897.. Gross, $11,620,709; net, $3,540,803 J a n. 1 to Nov. 30 (11mos.)51896 .. Gross, 9,192,099; net, 3,151,257 Statement of earnings and expenses for six months ending June 30, 1897, was giv en in V. 65, p. 328, showing deficit under interest charges of $85,166, a gainst $207,220 deficit in 1896; adding subsidy receipts for six months of 1897, $103,158, leaves surplus of $17,992. ANNUAL REPORT-Fiscal year ends Dec. 31. Report for 1896 was given at len~th in V. 64, p. 839, 84'5; see also editorial, p. 827. The gross earnings below are Mexican currency; all other figures U. S. currency. The company received for its Mexican dollars a.n average of 53·17 cents in 1896, 52·95 in 1895, 51 ·87 in 1894, 62·02. 0 F 0 --- ------ ----- ----Q, ____ _ E X I '(O~'t(.- - - "fO ~!'!!.--:uRoi:>E _____ _- - • lo____ _ ---- ---- --------==-------:----=----G u ·L F MAP O~" THE 0 MEXICAN CENTRAL RAILWAY · https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND CONNECTIONS. 0 -• --o RAILli-OAD STOCKS AND BONDS. JANU.A.RY , 1898.j I RAILROADS. Miles Date Size, or INTEREST OR DIVIDENDS. ::;:~~": For explanation of column headmgs, &c., see notes of of Par o ~ : ~ g Rate per When Where Payable, and by Stock.t-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. ----------------- ---- - - - -- - - - -----•I---- Mea}iCan CentTal--Stock, $25,600 per mile....... . . .. 1st mortgage 1unassented) and scrin... .. ... .... .. . ... Consol. mortgage, $32,000 per mile, gold .... c*&r 1,949 1st cons. inc. and scrip,non-cum. ($9,600p.m.J,g.c* 1,949 2d con.inc.$6,400p.m.red.at50p.c.til1Aug.1929c* 1,949 Registered income bonds and scrip, unassented.r .... EquipmPnt bom1s, $500,000 15 p. c. due yearly). .Mex.Int.-Pr.lien,£1.21 0,000,red.atpar.Un.xo*&r fff5 1st consol. mort., $16,000,000, gold ... Mp.xo*&r 659 Income mortgage, $4 499,000............... •. . . . . . . . . Mexican National-Stock.......................... 1st M., subsidy, gold, subiect to call at 100 .... c* 2d M.,ser. "A," g., inc. aocum. (for $16,675,000)c* 2d M.,ser."B," g., inc. non•ao. (for $16,675,000).r 3dmortgage, deb.(income not cumulative) gold.r Mex. Nat'l Ry. Oo., Limited-A otfs., 5% non•cum.. B certificates....................................... Mexican Northern-Stock............................ 1st mortgap:e, U.S. gold coin, R. f. not oalled.o*&r Mexico Ouernavaca ~ Pac.-lst M., g., $25,000 p.m. .... 1,064 1,064 1,064 1,064 .... .... 83 83 .. .. Michigan Central-Stock.......................... .. . . Consol. mort.-nowlstM. ($2,000,000 are 5s) .. o* 2 7 0 M. C. Michigan Air Line, 1st morj;gage ........ o&r 115 M. C. 1st M. on Dljt. & Bay City ($4,000,000) .... c 152 do do do ... r 152 M. C. 1st mortgage on Grand River Val. RR. ... c* 84 M. C. 1st mortgage on Kalamazoo & S. Haven ... r 39 M. C. 1st mort. on Term. RR., $1,500,000•.... c&r .. . . Grand River Valley stock, rental in perpetuity... 84 Det. & B. City bonds, endorsed, no mort. lien ... c . . . . Bridge bonds, endorsed, no mortgage lien...... Jack.Lans.&Sa.~.stoc&,3'1 2p.c.y'rly,guar.byend. 295 Cons.mortgage,assumed,extended in1891..o* 295 .... $100 $47,909,100 1881 1,000 531,000 1889 1,000 58,934,000 1889 !,000 17,290,~00 1889 1,000 11,235,000 1881 1,000 467,200 1897 1,000,000 1897 £iOO&c 6,000,000 11':97 $500&c. 4,635,000 .... (1) .... 100 33,350,000 1887 1,000 11,297,000 1887 500 &c. 12,265,000 1887 500 &o. 12,265,000 1887 1,000 7,040,000 1896 . ... . • £2,239,225 1896 . .. . . £1,910,000 . . .. 100 $3,000,000 1890 1,000 Bee text. 1893 ...... 1,000,000 .... 100 18,738,000 '72·'82 1,000 10,000,000 1890 1,000&c 2,600,000 1881 1,000 } 1881 1,000&c ( 3 ' 576 ' 000 '79·'86 1,000 1,500,000 1889 l,OOO&c 700,000 1896 1,000&c 500,000 100 491,200 i872 1,000 274,000 1873 1,000 150,000 .... 100 2,000,000 71&80 1,000 2,054,000 Mexican Central-ConcludedINCOME ACCOUNT-(U. s. CURRENCY EXCEPT .A.8 INDIO.A.TED). 1 8 93 · Year ending Dec. 311896. l895. l89 4 . Av'ge miles operated..... 1,869 1,860 1,860 1,847 Gross earn'gs, Mex. cur.$10.208,020 $9,495,866 $8,426,025 $7,981,768 Net earns. Mex. our .... .. $3,463,747 $3,896,475 $2,966,350 $2,845,588 Do do in U.S. our .... 1,841,515 2,063,157 1,538,693 1,764,823 Subsidy aco't in U. s. our. 300,000 275,000 750,000 500,000 Misoellaneousin u. s. cur. 155,941 186,472 142,460 _______________ Total net income ..... $2,297,456 $2,524,629 $2,431,153 $2,264,823 Interest on bonds......... 2,320,533 2,306,600 2,306,888 2,226,962 16, 387 1 88,44 9 Miscellaneous.•··········· 159,934 208,281 Balance............... df.183.011 sur.$9,748 df.$64.184 sr.$21.474 -(V. 64, p. 465,827,839,843, 845, 8&38; V. 65, p. 328,463, 824.) Mexican tndufiltrlal Rys.-Road under construotion. Capital stock, $4011,00 ; par, $100. Bonds offered in June, 1896, $150,000 to be sold at that time and $350,000 shortly afterward. Boston Safe De• posit & Trust Co., trustee. (See V. 62, p. 1177.) 1'.lextcan International KK.-(See Map)- Ro.AD.- Owns in Mexico a. standard gauge road from Ciudad Porfirio Diaz, on Southern Pacific, via Torreon, on Mexican Central, to Durango, 540 miles, with branches, 76 miles; new branch to Tlahualilo, 43 miles, was opened S, pt. 23, 181:Jo: total operated, 659 miles. It is proposed to build 36~ miles of branohes.-V. 65, p. 151. Organized under laws of Connecticut. STOCK.-Autborized $25,000,000; issued Jan., 1897, $16,975,000. RE·.A.RRANGEM~:NT OF BOND ED DEBT.-ln July, 1897, company arranged wirh bondl olders to substitute £1,200,000 sterling 412s, $4,635,000 I st consol 4s and $4,499,000 tnoomes for the $15,134,000 old first 4 s, thus redudng fixed interest oharges on present mileage659 miles • from $60:'i, l60 to about$U8,650. Consol. 4s for$3,690,000 are to be issued at $10,000 per mile on 369 miles of proposed branches and $800,000 are reserved for betterments, etc. The total issue of consols ie limited to $16,000,000. The prior lien 412s are secured on line from Cuidad Porlhio Diaz to Durango, 540 miles and 75 miles of branohes. ::,ee deta.il~ in V. 65, p. 151, 1071. EARNINGR-Mex. eur'oy. 51897 .... Gross, $2,259,747; net, $842,757 Jan. I to Sept. ao (9 mos.) i 1896 .... Gross, 2,110,013; net, 733,619 ANNUAL Rt!:PORT.-Report for year endmg Dec. 31, 1896, was given at length in v. 65 p. 149,156, showing earnings as follows: Gross on aver· age of 628 miles, $2,912,107 (Mexican currency}; net, $1,065,022; in u. S. money, nt>t, including other income, $546,463; interest, etc., $618,024; halanoe, rletloit, $71,561. In 1895, gross (Mexican currency), $2,664,126; net, $1,066,771. PrP. i ctent, T. H. Hubbard. New York office, 23 Broad Bt. (V. 62, p. 85, 663,680, 68'7, 909; V. 63, p. 559; v. 65, p. 149,151,156, 1071.) Mexican NatlonaJ RK.-Owns narrow gauge road from Laredo to City of Mexico, 842 miles; Acambaro to Patzuaro, 96 miles; El Ba.lto branoh, 45 miles; Matamoras to San Miguel, 76 miles; small branohes, 5 miles; total owned, 1,064 miles; controls through owner• snip of Rtook, Texas Mexican Railway, Col'P.us Christi to Laredo, Texas, and hranch, 163 miles; other lines, 5 miles; total 1,232 miles. Gauge, 3 feet; rail (steel and iron) 40 and 45 pounds to the yard. HISTORY.-A rAorganization of tbe Mexican National Railway fore• closed May 23, 1887. See also Mex. National Ry. Co., Limited, below. SUBRIDY.-In March, 1895, holders of first mortgage [also called prior lien] bonds accepted the plan for conversion of unpaid subsidy oertifl. ca.tes into Mex1oan Government 5 c. bonds, uncollected subsidy, $3,335,68n, to be settled by deposit o $4,541,300 of Mexican Government 5s as security for the firsts of 1887.-(See V. 62, p. 593, 1139.) STOCK.-Stock, $33,350,000 (par $100), placed in trust with the Farmers' Loan & Trust Company, leaving the road in oontrol of 1st a»d 2d mortgage bondholders until it earns and pays interest on both classes of bonds for two consecutive years. The first mortgage bonds have two votes], the 2d mort~age, A. & B., bonds one vote each [24,530 in all]. The Mexica.u National Construction Company owns a. ma• jority of the stock and$7,000,000ofthe3dmort. inoomes.-See V. 63,p. 1115; v. 64, p 1137. Capital reserve fund Jan.1.1897, held $734.786. BoNDS.-The ft1·st mortgage of 1887 is a prior lien upon all the lines in Mexico, oonstruoted or to be construoted, and upon the Texas Mexican securities. The bonds are redeemable on notioe at par. Trustees Hugh M. Matheson and Capt. W. G. Raoul. Original issue $12,500,· 000, which bas been reduced to present fi~u.re by redemption with sub• sidy, $116,000 bonds being paid in 1897, agamst $46,000 in 1895. As to 2d mortgage bonds see SUPPLEMENT of April, 1897, and "Mexi. can National Ry. co., Limited", below. On series "A" bonds from earnings 2 per cent was paid Maroh 1• 1893; 1 per centon April 1, 1895; 112per cent on April 10, 1896; 3p. c• Mar. 22, 1897, at Nat. City Bank, N. Y., and in London. E.A.RNINGS-11 months, 51897 .... Gross, $5,481,482; net, $2,667,527 Jan. 1 to Nov. 30. { 1896 .... Gross, 4,725,757; net, 2,209,115 Net o.va.ilable for interest (11 mos.), $1,270,892 in 1897; $1,223,139 in 1896. Abo Vt• figures a.re in Mexican ourrenoy to be valued at 80 cents on the dollar in U.S. money, all other depreciation having been allowed for. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis f· I I .... .. (7) 4 4 g. 3 g. 3 3 5 412 g. 4 g. ----1----------•1-----..... .. .. . . . . . . J. & J. Boston,BafeDep.&Tr.Co J. & J. do do July 10 Boston, when earned. ....•. .. .. Juiy·1 .......... M:°i,l,'·s. Londoii.°,"Speyer Bros. M. & S. New York. •••••• • • • .. . ••.•••• July 1, 1911 July 1, 1911 Jan. 10. 1939 Jan.10~ 1939' July 1, 1911 Apr. 1, 1917 Sept. 1, 1947 Sept. 1, 1977 •••• •• •• •• • ••••••• ...... .. .. 6 g. J. & D. N. Y., Nat. City Bank. June·1,..i927 6 g. M. & B. Paid 3 p. ct. Mch., 1897 July 1, 1917 6 g. See text. July 1, 1917 6 g. May 1 July 1, 1937 See text. . . . . . London, when earned. April 6, 1897 .... .. ..... do do ....... . 4 in 1897 Q,uar'ly. N. Y., office, 42 Pine St. Nov.30,'97,1% 6 g. ;f. & D. do do Dec. 1, 1910 5 g. . .. .. N. Y. Mercantile Trust. Oct. 1, 1943 4 in 1897 F. & A. N. Y. Gr. Cent. Station. Feb. 1,'98, 2% 7 & 5 M. & N. N. Y., Union Trust Co. May 1, 1902 4 J. & J. Rg.atG.C.S.; cp.at U.Tr. Jan. 1, 1940 S 5 M. & 8. N. Y., Union Trust Co. Moh. 1, 1931 i 5 Q.-M. N.Y.,Gr'dCent.Station. Moh. 1, 1931 6 M. & 8. N. Y., Union Trust Co. Sept. 1, 1909 5 M. & N. N. Y., Gr. Cent. Stat'n. Nov. 1, 1939 4 g. J. & J. Rg.atG.C.S.;op.atU.Tr. July 1, 1941 5 J. & J. Jackson, Mioh. Jan.,'98,212% 8 M. & N. N. Y., Union Trust Co. May 1, 1902 8 M. & N. do do May 1. 1903 312 M.& S.N.Y.,Gr.Cent.Station.Sep.l,'97,1:\!% 5 M. & 8. N. Y., Union Trust Co.I Sept. 1, 1901 ANNTI.AL REPORT-Fiscal year ends Dec. 31. Report for 1896, with the balance sheet, etc., was given in full in v. 64, p. 563,569; see also editorial p. 54~. Gross below are in Mexican currency, all other figures in U.S. currency. Mexioan ourrency is reduced to U.S. currency at 80 p. c., all loss above this being charged off in exohange account INCOME .A.CCOUNT-(U. s. CURRENCY EXCEPT GROSS EARNINGS). l'i d' D 1896• 1895. 1894• . ear en g ec. 311893. Miles opera~d.. •··· .. 1,218 1,218 1,218 1,218 Gross earnmgs ....... $5,299,025 $4,513,206 $4,329,079 $4,224,804 Net earnings .......... $2,020,766 $1,657,126 $1,513,570 $1,310,750 Subsidy receipts...... . .••. ... _ _ _ _ 99,110 Totalnetincome.. $2,020,766 $1,657,126 $1,612,680 $1.l.~10,750 Int. on 1st M. bonds.. $687,755 $693,070 $694,680 ;i,,02,130 7 7 ~:f.~i~i'm'ts:·eto::: ~gg:~~g g~;g~~ ~~:~i½ t~i:t~r ---- ---- ---- ----Ba1.a.noe ....•..... sr.$402,622 sr.$158,888 sr.$125,168 sr.$22,569 -CV. 63, p.116, 358,559,880, 1115; V. 64., p. 517,518, 563, 569.} Mexican National Ky. Co. Lirnlted.-This depositary com-pany was formed in 1896 (per plan in V. 62, p. 1139, see also p. 635) by the" A" and" B" bondholders of the Mexican National RR Co. to. give them "more immediate and practioal control'' over that company. Its share oapital is £24,530 in 10s shares, and is deposited in trust to give the control of the depositary company to the oertifloate· holders. The certitlcates were issued in exohange as follows: £250 A oertlfl.oate for a $1,000 "A" bond deposited; £200 B certitioate for $1,000 "B" bond and £ 125 A and £100 B certificate for a Matheson certificate. In Dec., 1897, there had been deposited all but abo11t $5,700,000 of these securities. The "A" oertiflcates have· two votes, "B " certificates one vote for every oomplete£25. The inoome received from the A and 8 bonds. deposited will be applied : (1} To sinking fund an amount not exoeeding 2 per oent or revenue collected: (2) to expenses of London manaizement not over £2,000 yearly; (3) to 5 per oent dividends on, A certificates; (4) to dividends on B certiftoates. DIVIDENDS-On "A' certifloates, in 1897, April, paid £2 7s. 4d. per cent. V. 64, p. 755. AddI·ess County Chambers, 13 & 14 Cornhill, London.-V. 65, p. 516. Mexican Northern Ky.-Owns from Escalon, Mexico, on the Mexioan Central Ry., to Sierra Mojada, 83 miles, all steel. STOCK.-Capital stock is $3,000,000 ; see application for listing on N. Y. Stock Exchange in full, V. 64, p. 619. DIVIDENDS .........• { 1892. 1893. 1894. 1895 to Nov., 1897. Per cent .......... 5 612 612 6 4 yearly. BoNDs.-The mortgage of which the State Trust Co. of New York ta trustee, is for $1,660,000, of which $324,000 bonds were held by the sinking fund in Dec., 1897. See description in V. 60, p. 482. EARNINGS- 5 months, 51897 ........ Gross, $229,963; net, $137,480, July 1 to Nov. 30. 1896......... Gross, 244,135; net, 121,846 ANNUAL REPORT.-Earnings as follows in U. S. currency: c Year. 0'ross. Net. Other inc. Oharges. Dividends. Sm·plus. '96·7 .... $603,671 $329,991 $19,941 $135,439 $120,000 '95·6 .... 763,t:!71 421,226 13,873 142,080 120,000 '94·5.... 660,644 343,619 7,526 135,284 120,000 ·-V. 63, p. '792; V. 64, p. 611,619; V. 65, p. 6'79. $94,493 173,019 95,861 Mexlco Cuernavaca & Pac. KK.-See issue of July 25, 1896. Michigan Central KK.-(See Map adjoining New York Oentra& page.)-LINE OF RoAD.-Main line-Kensington to Detroit, 270 miles· and Windsor to Suspension Bridge (Canada Southern), 226 miles~ total main line, 496 miles. Branches owned and leased 1,132 miles•' trackage m. C~n., 14 miles; total January 1, 1897, 1,642 miles: There are 244 miles of second track and 877 miles of side tracks.. ORGANIZATION, LEASES, &c.-The Michigan Central was chartered 1D 1846; the w:hole line, Detroit to Kensington, was opened in 1852. The lines described above as leased are all held by the Michigan Central nominally under leases at fixed rentals. To enter Chicago uses the Illino~ Central from Ken~ington under a perpetual lease. The Termmal RR, owns from Umon Stock Yards to Chappel, Illinois. CAN.A.DA SOUTHERN CONTR.A.CT.-In Nov., 1882, a close contract wa.a made with Can. So. tor the operation of its road. The contraot :\)rovided for a re·apportionment every five years and in the re apportionment December, 1892, it was agreed that the Canada Southern sllould there• after receive 40 per cent and the Michigan Central 60 per cent of the ttrst $1,000,000 of net earnings, any amount over that to be divided as theretofore-one-third to C. 8. and two•thirds to M. C.; but under the original contract each oompany is accorded all benefit from reduction in its fixed charges. The M. C. to Jan. 1, 1898, had reduced its oha.rges $327,0UO; this sum is therefore oredited to it before the division is made.-(V. 64, p. 5.} CAPITAL STOCK.-The stock has remained at same a.mount since 1873. DIVIDENDS. t '83 '84 '85·86 '87·89 '90 '91 '92·94 '95 to Feb ' 98 Per cent-- S 5 3 nil. 4 yearly 5 5 519 y'rly 4 yeaay BoNDs.-'l'he Jackson Lansing ~ Saginaw bonds were assumed by Michigan Central, which also guarantees in perpetuity 312 per cent on the stock. The Bay Oity ~ .Battle _Greek mortgage is for $1,800 000 but amount outstanding 1s lim1ted to $15,000 per mile 'Th& total issue of Battle Oreek ~ Sturgis bonds is $500,000, bui. INVESTORS' SUPPLEMENT. 86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E X W I' [VOL. LXVI. JANUARY, 1898.] 87 MISCELLANEOUS STOCKS AND BONDS. Subscribers will confer a great favor by giving bnm.edlate notice of any error discovered In these Tables. Bonds-PrtnotR.A.ILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due • .Amount of Par Outstanding Rate rer When Where Payable, and by Stocks-Last F or explanation of column headings, &o., see notes of op. first page of tables. Road. Bonds Value. Cen . Payable Whom. Dividend. M. ichigan Centra"lr-( Concluded)Bay & Battle C., 1st M., ~old, gu.p.& i. end.o* Battle . & Sturgis 1st 1\1.., go d, gu. p. & i. end.o· - - --- Ci1g, 18 41 Joliet & North.Indiana 1st M., guar. p.&i. (end.).o 45 13 Middletown Un. cit W. Gap-lstM., ext. in'86 ...... o* 2d mo~age, int. guar. ext. in 1897 (see text) . . o• .... M idland erm. lstm., $1,000.000,gold, red. at 105.o .... Mill Oreek & Mine Hill Nav. cit RR.-Stook .. ....... .. .. M i lw. Benton Harbor <I: Ool.-Consol. M., $600,000 M ilwaukee Lake Shore <I: Western-See CHICAGO & NORT M.ilwaukee cit Lake Winnebago-Com.stk.$1,000,000 --·· 1st preferred stock, $980,000, 6 per cent, ount. .. 2d preferred, $600,000 ....•........................ i"io~.c~; i897 .... ---- ·-·· . 66 iss2 M'!:.1J?;~t~:~~ihoo;ooo,g:sub: io.<iaii .... Divisional construction scrip, gold, red. at par . . Income mort. (cumulative), gold, interest paid.o* .66 Debentures, convert., gold, see remarks ........ o* M ilwaukee cit Northern-See Chicago Milwaukee & st:·i>a 52 Mine Hill cit Schuylkill Hav.-Stook (6 p. ct. rental). M1-neral Range-Stock $400,000......•.............. New oonsol. M., gold, red. at 105.................. o ·17 inneapolis & St. Louis-Common stock........ .... 1st preferred stock, 5 per cent, cumulative ....... 2d preferred stock, 5 per cent, non•oumulative... 1st M., Minn. to Merriam Jo., gold ......•••..•.. o* ·27 93 lstmort., Merriam Junction to State Line,gold.o* 15 1st M. Minn.& Dul., Milm. to White B.Lake, gold.* Iowa exten. 1st M., g.(Al. Lea to Fort Dodge)g.o* 102 53 Mort.on Southwestern exten., g. ($12,000 p.m.)c* Pacific extension 1st mortgage, gold............ o* 92 First consolidated M., $10,000,000, gold..... o*&r . 1889 $1,000 1,000 1889 1,000 1877 1866 100 &o. 1871 500 &o. 1895 ····-· H·WES TERN, ..... N. N. N. N. Y., Union Trust Co. Deo. 1. 1989 Y., Union Trust Co. Dec. 1, 1989 Y.,Farm.L.&Tr.Co. July 10, 1907 Y.,d!· Y. Susa & W. Nov. 1, 1911 0 N. Y., Blair & Co. Philadelphia. ·········· 1:000 1,000 ---· 50 100 500 100 100 100 1,000 500&0. 1,000 1,000 1,000 1,000 ).,000 4,210,200 512 J & J. Phila.,Offloe, 119 S. 4th. 393,400 . ....... ......... . .. J, & J. N. Y., Nat'l City Bank. 340,500 6,000,000 . .... 2,500 000 5 i:n.i897 J . & J. N. Y. Central Tr. Co. 4,000,000 3in 1897 J. & J. do do 455,000 7 g. J. & J. do do 950,000 7 g. J. & D. do do 280,000 7 g. M.&N. do do 1,015,000 7 g. J. & D. do do 636,000 7 g. J. & D. do do 1,382,000 6 g. A. & 0. do do 5,282,000 5 g. M.&N. do do 1895 1884 ul. 1877 1877 1879 1880 1881 1894 Surplus ..... / .. $44,480 $28,389 $60,829 $46,034 -(V. 63, p. 1155; v. 64, p, 135,885, I20Q, 1225; v. 65, p. 121 '7.) Middle Georgia & Atlantic Ky.-Sold to Central of Georgia Ry.Jan.1,1897. V.64,p.82. lUlddle 'l'enn. & A.la. Ky .-Purchased by Nashville Chattanooga & St. Louis in October, 1897.-V. 64, p, 888, 1001; V. 65, p. 621. Middletown Unionville & Water Gap KK.-(See Map N. y. S1.1squehanna cit Western.J-Owns from Middletown, N. Y., to Unionville, N. J. State llne1 14 miles. Stock, $149,850; par, $50. Is controlled through ownersnip of stock by New York Susquehanna & Western, which pays interest on bonds. Principal of the second mortgage 5s, due Dec. 1, 1896 ($250,000), was extended at same rate to 1911. In ear ending June 30, 1897, g'!'Oss, $47,900; net, $19,717; charges, 22,145; bal., deficit for year, $2,428. In 1895·96, gross, $50,171; net, 22,187.-(V. 63, p.1010, 1159; V. 64,p. 664,) Midland Ter1ntnal Ky.-RoAo.-From Divide, on the Colorado Midland RR., to Cripple Creek, 30 miles; opened in Dec., 1895. This line shortens the distance from Denver to Cripple Creek about 70 miles. The first mortgage is for $1,000,000 and bonds are redeemable at 105. In October, 18\::16, the bonds had not been sold but were pledged for a loan of $625,000 made Jan. 1, 1886, at 6 p. c. ; there were oar trusts for $10,000, payable $2,000 monthly to Februa ry 1, 1898. For year ending June 30, 1896, gross, $127,623; net, $188,909; interest on loan, $18,750. President, D.R. 0. Brown, of Aspen, Col.; Vioe·President, Treasurer and Gen. Man., W. K. Gillett.-V. 61, p . 967. 1U1ll Creek & Mine Hill Navigation & KK.-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. & Reading RR. and leased assumed in 1896 by Phila. & Reading Raitwt;ty; rt1ntal $33,000 and all taxes. Milwaukee Denton Harbor & Colurubus Ky.-Completed (Sept., ' »7), Benton Harbor to Buchanan, Mich..., 27 mile.i, to extend to Nappanee, Ind., on the B. & 0. RR. The oapitai stock at consolidation was $600,000. The company has filed a consolidated mortgage to se• onre $600,000 of 50•year 5 per cent bonds. The directors are Presi· dent A. A. Patterson, Jr.; Secretary, Fred. McOmber, of Berrien Springs, Mich. Treas., F. L. Reeve11, New York City. (V. 65, p. 572.) JJ.Illwau.kee & Lake Winnebago KK.-Owns Neenah to Schleis• ingerville, Wis., 65 miles. Manitowoc Extension, 4fi miles, was opened in July, 1896. Leased for 99 years to Wis. Cent. at 37½1 per oent of gross earnings as rental; but after $175,000 per year is reoeived, the balance of net earnings is to be equally divided. In May, 1897, lease suspended and an arrangement made by whioh Wisconsin Cen• tral pays net earnings in lieu o~ rental-see V. 64, p. 903. The ~ani• towoo Extension was leased until August 1, 1897 "for substantially $72,000 per annum."-V. 62, p. 1098. There is a ferry across the lake at Manitowoc. -V. 62, p. 636. DIVIDENDS.-Preferred paid 9 per cent per annum to Feb., 1894, being regular 6 per cent, and on account of accrued back dividend an additional 3 per cent; in 1895, 6 p. c.; in 1896, F eb., 3 p. c.; Aug., 3 p. o.; in 1897, F eb., 3 p. o.; Aug., none. In February, 1893, 10 per cent extra was naid. Only 5 p. o. accumulated dividends on preferred remained unpaid in Dec., 1896. BoNDs.-Debentures Nos. 1 to 200 are convertible on any coupon day into preferred stook1 and Nos. 201 up into common; the lessee pays interest on them durmg first ten years after issue. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis g. J. &D. g. J. & D. J. & J. g. M.&N. J. & D. g, J. & D. J. & J. iss2 ··ioo 100 1,000 1,000 of this $79,000 was sub-guaranteed by the Lake Shore & Miohi~an Southern, 7 miles ot tne H. C. & B. oeing operated by thali company. The Bay City & Battle Creek and the Battle Creek & Sturgis issues both oarry the guaranty of the Michigan Central endorsed on the bonds. In 1896 bonds for $1,500,000 were authorized on terminal proper• ties acquired in Chicago and East Chicago, and $500,000 of 4 p. o. bonds were issued.-V. 64, p. 886. OPERATIONS, FINANCES, &c.-The road is operated under a close 0011· tract with Canada Southern, and the earnings of both roa ds are included in the statistics below. As to division of profits between the oocn• panles, see explanation V. 64, p. 5. All betterments and improvements to the road have been charged to operating expenses. ANNUAL REPORT.-Fisoal year ends Dec. 31. Annual meeting is held on the Thursday following the first Wednesday in May. Report for 1896 in V. 64, p. 885. Figures below for 1897 are partly estimated. Traffic.-Ot the 7,470,951 tons carried in 1895, grain contributed 8·7 per cent; bituminous coal, 1014 p. o.; anthracite, 6·8 p. o.; lumber and forest products, 20·7 p. o. Average rate per ton perm. ·617 cents. In 1896 carried 7,276,270 tons; average rate ·636 cent. Year ending Dec. 31- 1897. 1896. 1895. 1894. Miles operated........ 1,642 1,642 1,642 1,634 Gross earnings ....•.. $13,630,000 $13,821,614 $13,651,419 $12,584,012 Net earntngs.... .. . . . 3,447,000 3,429,263 3,468,188 3,439,905 P. o. op.ex. to earns.. 74·71 75·19 74·59 72·66 Net, inol'gotherino .. $3,491,000 $3,468,948 $3,517,265 $3,484,555 Rentals paid ...•..... ( 2 415 000 5 184,310 184,:no 184,310 Interest on debt ..... 5 • ' ( 2,210,255 2,217,891 2,216,875 Can. Southern share. 282,000 296,474 304,715 287,808 Dividends............ (4)749,520 (4)749,520 (4)749,520 (4)749,528 f (i) 3 3 7 5 5 5 10 5 1,000,000 ..&..A. 780,000 se·e·text. F. 520,000 1,430,000 J. & J. 1,000,000 6 g. A. & 0. 7 g. At mat. 75,000 520,000 5 g. J. & J. 244,000 6 g. A. & 0. is9i . ... ---· .... i877 ---- ... .... $250,000 421,000 800,000 150,000 250,000 See text. 323,375 ...6.g. Dec. 1, 1911 Dec. 1, 1925Jan.. '98, 5%, 1947 Boston, Of., 50 State St. Feb:i5}97, 3~ Boston: Meicii:,Nat.Bk. Jui:v·i",·"i912 1st coupon Apr.1, 1897 Oct. 1, 1926 Oct. 1, 1900 Boston, Meroh. Nat.Bk. July 1, 191Z do do Apr. 1, 1904 ...5.g. Jan.15,'98, 21g, Feb., '97, 3129(. Jan. 1, 1931 Jan:i5·,;98, 21g, Jan.15,'98, 1¼ Jan. 1, 1907 June 1, 1927 Jan. 1, 1907 June 1, l!l09 Dec. 1, l!llO Apr. 1, 1921 Nov. 1, 1934 I RENTAL, ETC.-Rental in 1893·94, $174,641; in 1892·93, $204,324 in 1891·92, $200,843; in 1890·91, $198,591. In 1893·94 net over expenses and taxes, $167,695; interest on bonds, $111,800; on debentures, $1,500; dividends on prererred, $40,950 (514 p. o.); balance. surplus, $13,445; (V. 63, p. 117; V. 64, p . 903.) llilne Hill & Schuylkill Haven KK.-From Schuylkill Haven to Locust Gap, Pa., etc., 52 miles. In 1897 rental reduced to 6 p. o. on stock under new lease for 999 y ears from J a n. 1, 1897, to Phila. & Rea d. Ry, Co. Div idends paid 11tookholders are 212 p. o. in J an. and 3 p. o. in July, 12 p. o. being deducted for taxes.-V. 63, p. 1011. Mineral Range KK.-Houghton, Mich., to Calumet, Mich., 15 milee, standard gauge; oranohes and sidings, 7 miles; total, 22 miles. HISTORY, ETC.-Operated in close connection with Hancock & Calumet (w.µioh Pee.) Reorganized in 1891. In year 1895·6 paid dividends amounting to 1012 p. o. In Aug., 1896, 312 p. o.; Feb., 1897, 312 p. o. BONDs.-The consolidated mortgage covers all the property, including $250,000 of Hancock & Calumet stock, which is :flve·sevenths of the whole issue. Mortgage is for $600,000, of which there are reserved for old bonds $7,000 with trustee, and $252,500 in company's treasury. There are $13,300 old bonds outstanding. Loans and bills payable June 30, 1897, $269,941. Of 124,025 tons carried in 1896, bituminous coal was 41 ·61 p. o.; lumber 5·7 p. o. EARNINGs.-For year endin~ June 30, 1897, on 22 miles, gross, $115,039; net, $54,497; other income, $12,659; interest, etc~ $24,742; dividends (7 p. o.), $ i 7,538; bal., surplus for year, $14,876. .Ln 18956, gross, $112,045; net, $50,668. In 1894·95, gross, $111,229. Office, 45, William Street, N. Y. Minneapolis & St. Louis KR.-(See Map.)-Owns main line Minneapolis to Angus, fa., 26112 miles; Pacific Div.. Hopkins to Morton 93 miles; Ka.lo Branch, 3 miles; Lake Park Branch, 112 miles; total operated, 359 miles. Leases trackage :from Minneapolis to St. Paul over tit. Paul & North. Pao. 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. Operates, but accounts kept separate, Wisconsin Minnesota & .Paoi:flo Ry., 217 miles. See description of M. & St. L. RR. Minneapolis terminals in V. 65, p. 732. The Minneapolis New Ulm & Southwestern Ry. from Winthrop to New Ulm, 18 miles, wa~ opened in July, 1896. Its securities ar& owued by the Minn. & St. L.-v. 63, p. 646. HISTORY.-A reorganization in October, 1894, as per plan given in V. 59.., p. 371, of the Minneapolis & St. Louis Ry., sold Oct. 11, 1894, at foreo1osure 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·oumulative, $4,000,000. Under the plan, old common ana old preferred were asi;iessed $25 per share, new first preferred being issued for assessment. All classes of stock have equal voting power. DIVIDENDS.-On :first p1•eferred: In 1895, 313 p er cent for 8 months in 1896, 5 p. o.; in 1897, 5 p. o.; in 1898, Jan., 212 p. o. On second pre f e1·red non•oum.: In 1896, 3 p. o.; in 1897, 3 p. o.; in 1898, Jan., l½l p. o BONDS, ETc.-Bonds issued under the mortgage due June, 1927, num bered from 1,101 to 1,400, for $500 each, additional to those above· were assumed by the Burl. Cedar Rapids & Northern RR. The new fir~t cons,11. mortgage (see abstract V. 59, p. 1145) provides tor the issue of $10,000.000 first oonsol. 40•year, 5 p. o. gold bonds, of which are reserved $4,718,000 for underlying mortgage, the remainder to pay past-due coupons, to retire or acquire certain outstanding bonds, and for expenses, etc. The mortgage covers all the property, eqmpment, franchises, etc., of the company. GENERAL FINANCES.-On June 30, 1897, there were no loans and bills payable, and the company held in its treasury oonsols $282,000 and M. & St. L. stock of p a r value of $397,800, etc. EARNINGS-5 mos., { 1897 . ...•.. Gross, $1,072,856; net, $447,708 July 1 to Nov. 30. 5 H96 . ...... Gross, 932,730; net, 418,350 .ANNuAL REPORT.-Fisoal year ends June 30. Report for 1896·97 was given at length in V. 65, p. 724, 731. See also editorial p. 710. Earnings· 1896·97, 1895·96. Passengers.................................... $412,084 $405,605 Freight . ... . ... . .. . . .. •. . ..........•.......•..•. 1,469,069 1,500,379 Mail, express, &o. ... . ................. .. . . . . . 125,350 122,316 Total. ....•.•••..•...•...•.............·.... $2,006,505 Net over taxes ...... . ........ . ...... . ......... $807,377 Other income................. ........ . ....... 96,949 $2,028,300 $824,748 87,572 Total net income... . ......... . ........... $904,326 Interest paid.. ... ........ : ...... . ............. 5 80,540 Dividends. .................................... 245,000 $912,320 580,540 245,000 Bal. surplus for year..................... $78,786 President, (Elected Oct., 1896), ~dwin Hawley.j -(V, 64, p 330 V 65, p. 461,710, '724, '731. $86,780. --- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1898.] RAILROAD STOCKS AND BONDS. RAILROADS. For explanation of column headings, &c., see notes on first page o:f tables. Minn. b't. Paul ff Sault Ste. Marie.-Common stock. Preferred stock, 7 per centt non-cumulative ..... Minn. Bault Ste. Marie & A lantio 1st M. gold .. oK Minneapolis & Paotilo. 1st mort., $15,000 p. m .. c" Consol. M., ~old, int. guar. (end.)-Bee text .... o* Income certificates .............•.• . ••............. Car trusts Oct. 31, 1897 . . ...•. ••.............•..... .Mississippi River <f Bonne Terre-1st mortgage ... Jlumsquoi Valley-Stock .. . ....••••••••.... . ........ Missouri Kansas ~ Tea:as-Common srocJr ...... .tlona.s-.l:"nnoJ, INTEREST OR DIVIDENDS. Miles Date I Size, or pal,Whell Due Amount of o:f Par Stocks-Laat Rate F,er When Where P~able, and by Road. Bonds Value. Outstanding Cen • Payable om. Dividend. .... 495 286 970 .... .... "'is .... Preferred stock, 4 fer cent non-cumulative ...... Tebo. & Neosho ls mort., gold, s. :f., red. at 100 . . M. K. & T. 1st mortgage, gold ......... ~ .. . ........ 1,601 2d M. (formerly incomes), see text, gold ........ 1,601 1st M. extension bonds, gold, $20,000 p. m . . . c* Mo. K. &EasterL lstM., $4,000,000 g., assumt"d. i62 2d M., $500,000 £old, guar., since assumed .•.. 162 ioo Guaranteed bon sKan. City & Paci:fl.c 1st mort., gold, int. gu. end.or Dallas &Waco -lstM.,$20,0008.m.,g.,p.&i. gu.c* M.K.&T. in TexaslstM.,$20,0 Op.m., gold, ~u.c* Booneville Bridge,lstM., gold., gu., dr'n at 1 O.c* -u. companies operat'd sezaratelySh.Sh.&So.lst .,$20,000p.m.~&f.1.·•P• i. (end.)c* Guar. bonds --.... iss6 1886 1888 1890 is93 ---.... isfo 1890 1890 1894 1892 1892 125 67 132 1890 1890 1892 1873 155 1893 1889 .... ---- 8. W. Coal & Imp. lstM. guar. p. . end. s. f. in '99. Missouri Paciftc,-Stook, $55,000,000 authorized. Pac. RR. o:f Mo. 1st mort., extended in 1888, gold 283 2d mort. ext. in 1891 in gold, St. L. to K. C .. o* 283 1st M., St. Louis real estate, ext. in 1892, gold. .... 1st M. Carondelet Br., g., gu. p.& i.(end.)ext.'93 13 3d M. (cover'~11.llpro.Jertyof Paci:fl.cRR. of Mo.) 296 Mo. Pacific 1st M., Le ngton to Sedalia, Mo, gold 55 Consolidated mortgage, $30,000,000, gold . . . c~ 1,076 is<>s 1871 1872 1873 1876 1880 1880 $100 $14,000,000 ·····..... ·········· 100 7,000,000 1,000 8,280,000 4·g:&5 J . ..&..J. N. Y., Morton, B. & Co. 3,162,000 1,000 4 (5) J. & J. do do 1,000 16,903,000 4- g. J. & J. do do . . .... 771,000 ...... .. ..... 812,919 ...... . .... . New York & Chicago. 500,000 Bonne Terre, Mo. ...... 500,000 See text. J."·&--J. St. Albans, Vt. ts2,450,000 ..... .......... 100 13,000,000 J:·&·n. N. Y. Office, 45 Wall St. 187,000 566°~. 39,813,000 4 g. J. & D. do do 500 &o. 20,000,000 4 g. F. & A. do do 1,000 998,000 5 g. M.&N. do do 1,000 4,000,000 5 g. A. & 0. do do 1,000 500,000 5 g. A. & O. do do ...... ···•rg. 1,000 1,000 1,000 $ & .£ 2,500,000 1,340,000 2,685,000 521,000 1,000 1,100,000 1,000 1,000,000 100 47,442,375 1,000 7,000,000 1,000 2,573,000 500 &o. 800,000 500 237,500 1,000 3,828,000 500 &o. 650,000 1,000 14,904,000 Minneapolis St. Paul &: Sault Ste. Ma_r le Ky.-Owns Minne to Bault Ste. Marie, Mich., 491 miles; bran~hes, 15 miles; :from ea.polis northwest to Kulm, No. Dak., 398 miles; Hankinson to International Boundary Line, No. Dak., 342 _miles; trackage in_ Minnea.po.tis, St. Paul, etc., 19 miles; other 10 rmles; total, 1,185 miles. HISTORY.-Formed June, 1888, by consolidation o:f the Minneapolis Ba.ult Ste. Marie & Atlantic, the Minneaporn & Paci.tl.o, etc. (See V. ~6, pp. 538, 609.) Controlled by Canadian Pacific. BTOCK,-Canadian Pac. owns $7,066,600 common and $3,533,400 pref stock and $2 609 ooo consols · ' ' · BONDS.-Can. Pao._guarantees by.endors~ment 4 per cent interest on all the bonds assentmg to a reduction of mterest to 4 per cent. (Bee V. 50, p. 784; V .. 51, p. 23~; V. 54, p. 799.) . Abstract of Minneapolis Sault Ste Mai-ie <f Atlantic mortgage in V. 45, p. 243. The consol. mortgage of 1888 (trustee, Central Trust Co., mort ga~e abstra.ot CHRONIC~, V. 47, P, 142), was for $21,000,000 on 8~0 miles (sufficient of this am~unt being r~s~rved t!) retire the prior bonds) and :for $20,000 per mile on all addit10nal mileage. GENERAL FINANCES.-OnJune 30, 1897, funded debt, $29,682,617; current liabilities, $2,885,876; cash and current assets $965,770. 0:f the 2,109,266 tons carried in 1896-7, lumber furnished 33 per cent, grain 20 per cent, fl.our 17 per cent. LATEST EARNINGS.-5 ~ 1897....... Gross, $2,001,321; net, $992,834 mos., July 1 to Nov. 30. 51896... ·-··Gross, 1,710,090; net, 755,559 EA.RNINGS.-For year ending June 30, 1897, gross, $3,598,362; net, $1,295,838; rentals, $105,020; interest, $1,194,117; deficit, $3,299. In 1S95-96, gross, $3,735,872; net, $1,428,609. (V. 65, p. 61 '7,) Mlsslsquol Va1ley KK.-Road, St. Albans to Richford, Vt., 28 miles. Leased ,July 1, 1888 to Central Vermont RR. at annual rental of 4 p. o. on stock of $500,000. Central Vermont went into receiver's hands in March, 1896, and Missisquoi Valle-y: net earnin~s are now paid over to that company pending final disposition of the 1ease. No dividend was paid in July, 1896, or January or July, 1897. Mlssl ■slppl River&: Bonne Terre Ry.-Road :from Rtversid~ to Doe Run, Mo., 47 miles. A southern extension is to be built, for which pm-pose it 1s proposed to increase tbe capital stock (par $100) :from $500,000 to $600,000. Earnings for year endillg June 30, 1895, were, ~oss. $163,969;. net, $2,327; other income, $2,678; charges, $34,09,; balance, detlmt, $29,092. Controlled by St. Joseph Lead Co. President, J. Wyman Jones; 55 Liberty St., New York Mlst11ourl Kansas &: Texas Ky. (See Map.)-ROAD.-Operates a line with northern termini at St. Louis, Kansas City and Hannibal, Mo., extending 11outherly across the Indian Territory and the Texas cotton belt to tidewater at Galveston, on the Gulf o:f Mexico. It embraces: Road owned. Miles. ()peratedr-not owned. Miles. Hannibal, Mo., via Denison & Henrietta to Wichita......... 18 Whitesboro, to Henrietta.. 689 Operated jointly. Junc. City, Kan., to Parsons. 158 St. Louis to Texas Junction.. 24 Texas Jct. to Franklin Jct... 162 Kansas City to Paola......... 43 Ft. Worth to Houston, Tex.. 327 Whitesboro to Ft. Worth..... 71 Paola, Kan., to Sedalia, Mo.. 86 Galveston Hons. & Hend.. .. 50 Branches (9) to Mineola, eto. 419 Total operated ... . .... .... .. 2,197 Sherma~S~~~~ Paola to Stevens, etc......... 150 J'ffers'n to Greenv.,Tex.,&o. 155 ORGANIZATION, &c.-Reorganized in 1890, without foreclosure, [plan ln V. 49, p. 719, l the old first mortgage being pa.id off at par. The "M. K. & 1'. Railwar Company of Texas" was formed with capital o:f $8,000,000 to consolidate certain ot the roads in Texas. The entire stock is deposited with Central Trust Co. as trustee for the benefit of the M. K. & T. security holders. (V. 54, p. 1047; V. 55, p. 298.) M. K. & Eastern was absorbed in June, 1896.-V. 63, p. 30. LAND GRANT.-Land grant in Indian Territory 3,110,400 acres. sub· jeot to extinguis.h ment of Indian title. For prospects of this in Sept., 1897, see editorial, V. 65, p. 542, 594. (V. 55, p. 937; V. 61, p.1155.) BTOCK.-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 $47,00 -J,000 to $52,450,000 to absorb subsidiary lines. See V. 63, p. 93. BONDS.-Full abstracts of the first mortgage of 1890 (trustee Central Trust Company) and of the second mortgage (trustee Mercantile Trust Company) were in V. 51, p. 495. These mortgages cover the ma.in line :from Hannibal, M0., to a point 80 miles :from Kouston, Tex., a distance of 941 miles [except 71 miles of trackage l and sundry branches, the total mileage mortgaged being 11601 miles, including the Sherman Shreveport & So., formerly the East Line & Red River RR. The bonds of the Sher. 8hr. & So., except $1,050,000 [turned over to M . K. & T. for standard gauging the line [ar0 deposited as part security for the aforesaid mortgages. These mortgages also cover the rillht to the land grant in the Indian Territory. Firsts are reserved for T. & N. firsts; on Stock Exchange to Jan .• '98, $39,718,000 had been listed. Payment of interes~ on the second mortgage of 1890 is obligatory since ihe coupon of Aug. 1, 1895, the payments to and including that date having oeen dependent upon earnings. As income bonds they received 2 p. c. interest yearly in .Febroa.ry, :from 1892 to 1895, inclusive. The Missouri Kansas d Eastern bonds originally guaranteed were assumed in June, 1896, the road forming the St. Louis extension :from https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ···s·· ··ioo ;fi~~s i~!~ i~"::!~~· ·- ············lfi~!i 89 &eK:~f~!%- I 4 5 5 7 g. g. g. g. F. &A. M.&N. M.& 8. M.&N. 5 g. J. &D. 6 . J. & J. ...4.g. F:·&··A. g. J. &. J. g. M.&N. g. A. & O. M.&N. g. F. & A. 6 g. M.&N. 5 5 4¼ 7 5 do do do do do do do do do do do do N. Y., Mercantile Tr. Co. do do do do do do Elo do do do do do do do .... ---· Juiy · i","i92s Jan. 1, 1936 July 1, 1938 July 1, 1900 1897 & 1903 Nov. 1, 1898 Jan. 1, 189~ . ....... 1; ·i9os Jun(; June 1, June 1, Nov. 1, Apr. 1, Apr. 1, 1990 1998 19441 1942 1942 Aug. Nov. Sept. May 19901940 1942 1908 1, 1, 1, 1, June 1, 1943 1929 July 15, 1891 Aug. 1, 1938 July 1, 1939 May 1, lr.38 Oct. 1, 1938 Nov. 1, 1906 Aug. 1, 1920 Nov. 1, 1820 Franklin, Mo., to Texas Junction, Mo., 162 miles. Bee V. 63, p. 30. GUAR.ANTIES.-lnterest is guaranteed on $2,500,000 Ka11sas City & Pacific 4 per cent bonds and on the Booneville Bridge 7s, and principal and interest on Dallas & Waco bonds (issue limited to $1,340,000). The M. K. <f T. in Texas in August, 1892, filed a. mortgage to secure, $10,000,000 o:f bonds at $20,000 per mile for extensions in Texas. They are guaranteed principal and interest and are so endorsed; trustee Central Trust Co. See above, and guaranty V. 56, p. 604. The Sherman Shreveport cl Southern mortgage is for $6,100,000 at not exceeding $20,000 per mile; authonzed, $3,100,000, of which $2,050,000 pledged under the M. K. & T. mortgage of 1890, and $1,050,000 issued to M. K. & T. for standard-gauging the road formerly th& East Line & Red River. see below. The line isoperated separately. The Southwestern Ooal <f Improvement Oo.'s bonds are guaranteed. Mortgage ($1,000,000) covers the coal on. 51,000 acres in Indian Territory, and the company also owns 2,350 acres additional, the Denison & Washita Ry., 15 miles, mines in active operation. etc. Equipment Notes.-Deferred payments due for cars, etc., on July 1, 1896, were-payments extending till February, 1898, $86,899; payments extending till November, 1905, to be made :from mlleave of oars, $213,637; equipment notes,deferredpayments, extending to Aug. 23, 1900, $478,993. GENERAL FINANCEs.-In December, 1895, through trains began running :from Kansas City to Galveston, Tex., on the Gulf of Mexico. As. to the development o:f the export traffic see V. 63, p. 697. The second mortgage 4 per cents beoa,m~ _fixed interest bo~ds Aug. 2,. 1895. In Nov., 1895, listed $668,000 additiona] first extension bonds. LATEST EARNINGS.-Jan. 1 to Dec. 31, 12 months, gross, $11,973,766 in 1897, against $11,746,244 in 1896. ANNUAL REPORT.-Fisoal year ends June 30. Annual meeting fl.rs1i Thursday after first Monday in April (changed from third Wednesday in May in 1896). Report for 1896·97 was given in V. 65, p. 820, and earnings are shown below. The increased interest charge for 1895-96 is due to tile fact that the $20,000,000 second mortgage bonds on whic~ 2 per cent yearly ($400,000) had previously been paid, bees.me fixed mterest bonds at 4 p. o. Aug. 1, 1895. Year end. June 30.1897. 1896. 1895. 1894. Aver.miles operated.. 2,197 2,147 2,028 1,960 Pas~enger earnings ... $1,818,188 $2,071,406 $1,970,905 $1,989,448Freight................ 9, 107,207 8,388,544 8,986,779 7,359,213 Mail, express, etc..... 552,919 577,036 586,679 528,62!) ---- ---- ---Gross earnings ..... $11,478,314 $11,036,987 $11,544,363 $9,877,290, Oper. exp. and taxes. 8,337,399 7,704,100 8,421,184 7,205,941 -- · -- ---·- -Net earn.,inc.oth. inc. ,r$3,277,915 $3,332,887 $3,123,179 $2,671,349' Interest on bonds.... 3,061,760 2,983,960 2,612,943 2,609,360 Rentals., &c........... 365,507 332,534 285,497 71,510------- ---Ba.lance .......... def.$149,352 sr.$16,393 sr.$224,739 def. $9,521 ,r1ncludingotherincomeor $137,000in1897.-(V. 63, p. 30,649,697 ,.. 838; V. 64,p.132, 46\J, 842; V. 65, p. 622, 820, 925.) MlstilOUrl Pacific Ky.-RoAD-Operates an important system of roads extending westerly and southwesterly from St. Louis, Mo., ino!uding main lines from St. Louis to Oma.ha , Neb., 495 miles, and from, Kansas City to Denver, Col., 758 miles, with many branches in Kansas, etc. Through the St. Louis Iron Mt. & Southern, which it controls, connection is had with Texas and the lines of the Texas & Pacific, International & GreQt Northern and tne St. Louis Southwestern, th& whole forming what is known as the "Gould System," in which the heirs of Jay Gould are largely interested (ilee list of Mr. Gould's holdings, V. 60, p. 83.) The Mo. Pao. property includes: I I Lines owned, and controlled. Miles. Leased lines and trackage. Mites. St. Louis to Omaha........... 495 Boonville St. L. & Southern... 44 Pleasant Hill to Joplin, Mo .. 1331 Verd. Valley Ind. &West...... 81 12 branches owned ........... 450 Leroy & Caney Valley .. _...... 52 Proprietary lines [entire st'ck Kansas City & 8. W............ .(8 own'd]form'glinetoPueblo, Trackage to St. Joseph, etc.... 27 Col., eto ..................... 1,833 -Total Mo. Pacific and branch lines.............................. 3,163 Also operates Central Branch Union Paci:fl.c, 388 miles ; St. Louis Iron MoUBtain & Southern and leased lines, 1,773 miles. Grand total Mi11souri Paoi.tl.o mileaa:e January 1, 1897, 5,324 miles. Operated ind&pendently, .Arkansas & Louisiana Ry., 26 miles. ORGANIZATION, LEASES, &c.-The Pacific RR. of ~souri was sold 1A foreclosure September 6, 1876. The present oom:pany was a consolidation in August, 1880, embracing the Missouri Pacific and minor roads. The bonds of the proprietary lines are practically all pledged to secure, Mo. Pacific loans. The Iron Mountain stock is mostly owned by th& Missouri Paoiflo. Complete control of the International & Great;, Northern was secured in 1892. See V. 54, p. 366. DIVIDENDS- t 1881. '82. '83 to '87. '88. '89. '90. '91. None Per cent ... 5 6 614 7 yearly. 514 4 4 3 since. BONDS.-The consolidated mortgage is for $30.000,000-trustees John F. Dillon and Edward D. Adams-ttre balance unissued is in trll8t io redeem prior bonds due i:f deemed best. Abstract in V. .(7, p. 287. The collateral trust bonds due 1917 (Union Trust Company of New York, trustee) are secured by mortiage bonds o:f new roads at $12.00~ I 90 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. (VoL, LXVI, MAP OF THE MISSOURI KANSAS & TEXAS R.AIL WAY SYSTEM. JANUARY, 91 RAILROAD STOCK~ AND .BONDS. 1898,] Subscribers will conl'er a great .favor by giving inunediate notice of any error discovered in these •.rabies. RAILROADS. For explanation of column headings, &o., see notes on first page of tables. INTEREST OR DIVIDENDS. Bonds-Prinol Miles Dat.e Sfze, or Amount pal,When Due. of of Par Outstanding Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. --- ---- --- --- ---- ----11 - ---------1------ .Missouri, Pacific-( Ooncluded,J- Gold collateral trust.... ......... .............. o*&r 1,120 1st oollateralmort. bonds for $10,000,000 gold.o* 671 Gold funding notes redeemable at par•.......... o Ler. &Caney Val.lat M.($10,000 p.m.),gold.,gu.o* ·52 Verdigris Val. Independence & W. 1st M.,g.,guar. 81 Mi1souri Pacific System-St. Louis Iron. Mt. d So. 1887 $1,000 $14,376,000 1890 1,000 7,000,000 1895 6,712,000 1886 520,000 1,000 1886 806,000 i:ooo 5 5 5 5 5 g. g. g. g. g. M.& F. & M.& J. & M.& 8. N. Y., Mercantile Tr. Co. A. do do s. do do do do J. do 8. do 1,000 8t.L.&I.M.RR.oldlstM.5s,ext. '97, g.,red. at 105 210 1867 4,000,000 4¼ g. F. & A. N.Y. Mercantile Tr. Co. do old 2d M. 7s, ext. in 1897 in g., red. at 105 310 1872 £ &$ 6,000,000 5 /!, M.&N. New York or London. Ark. .Br., 1st M., g., 1. gr., ext.'95, sub. oall 105.o 1,000 99 1870 2,500,000 5 g. J. & D. N. Y.,MeroantileTr. Co. Gen. oonsol. & land f.M. ($45,000,000), gold.o* 1,428 '81to'7 1,000 22,955,000 do do 5 g. A. & 0. Do do gol , stamped, guar. p. & i. .o* 1,428 1,000 6,945,000 5 g. A. & 0. do do Gold funding notes, redeemable at par ........ o 4,723,000 M.& do do 8. ~ g. ·····Car trusts Dec., 1897, due 10 per cent yearly. --·· ....... 963,500 Quar'ly. do do Baring Cross Bridge Co., 1st mort., gold........ 1873 200,000 7 g. do do Kansas & Ark. Val. 1st M. $20,000 perm., J!d .. i65 1887 3,412,000 5 g. J. ..&.. J. do do 2,342,500 Little Rook & Ft. Smith 1st M.,land sink. d .. 165 1875 500 &o. J. & J. do do 7 2 1891 Little RookJuno. lstM.,~ar.p.&i. yironMt.. o* 1,000 435,000 A. & 0. do do 6 .MolJil,e d Birmingh. RR.- took ($900,000 is pref.). 100 1,800,000 ...lfg. .J. ..&. ·J. N. Y. Central Trust. Prior lien, gold, $1,000,000. (See text) ......... o 149 1895 200, I,ooo 600,000 Mort.,inoomes till July 1,1899, $1,200,000,gold.o 149 1895 200, I,ooo 1,200,000 4 g. J. & J. 2 p. ('. &iaid in Moh., '97 Mobile Jackson <t K. 0.-lstM.,g., $4,000,000.C.o.. &r 50 1896 1,000 500,000 5 g. J. & D. N. Y., entral Trust Co. Mobile d Ohio-Stock ($10,000,000 authorized) gold 100 5,!-J20,600 See text, N. Y. Office, 11 Pine St. J ...&·n. N. Y.,Farm.L.&Tr.Co. lstM.,Mob. to Col.(prin.gold,int.lawfulmoney).o* 472 1879 500 &o. 7,000,000 6 lstmort., exten.,Colum. to Cairo &branoh,goht.o· 55 1883 1,000 1,000,000 6 g. ~-Jan. do do General mort. for $10,500,000, (now told) s. f •• c 527 1888 500 &o. 9,025,085 4 g. . & 8. N. Y., Gallatin Nat. Bk. Montgomery Div., 1st mort., $4,000,0 0, gold .. o* .... 1897 1,000 See text. 5 g. F. & A • N. Y., Central Tr. Co. Equipment bonds Dec. 1, 1897 ..... _..... . ........ '87·'90 1,000 134,000 Various. N. Y., Farm. L. & Tr. Co. 6 Equipment, etc., obligations of 1898 ............. 1898 (1) ...4.g. M~·&··s . N. Y., Kniokerb. Tr. Co. .Moh. dMatone-lst M.,$15,000p.m.,g.,gu.p.&i. (en.) o~ isi 1892 2,500,000 ....... 3,900,000 Upto5 Sept. 1. N. Y. Of., when earned. Income bonds non•cum., 5 per cent (see text) .... .... 1892 isoi5 ---· t· ---- i:ooo ---- --- - ---- ---· i:ooo or $15,000 per mile; these embracing the line from Fort Scott, Kan. to Pueblo.Col. 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 Dec. 31, 1896, $2,636,000 were held pledged for Missouri Pacific funding notes of 1895 and $7,000,000 were outstanding. GENERAL FINANCES.-In 1895 the issue of $8,256,000 collateral trust notes ("gold fundin~ 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 a.re guaranteed by the Missouri Pacific. Mercantile Trust Co., trustee. A list of the securities deposited to secure these notes was given in V. 62, p. 548; V. 60, p. 1059. On Jan. 1, 1897, Mo. Pao. loans payable (secured by collat.eral) were $1,325,850. EARNINGS.-Jan. 1 to Dec. 31 (12 months) gross of Mo. Pacific and St. L. I. M. & So. oombined, $24,885,000 in 1897; $22,011,960 In l896. .ANNUAL REPORT.-Fisoal year ends Dec. 31. Annual meeting is held at St. Louis in March. Report for 1896 was in V. 64, p. 513. Earnin~s of Missouri Pacific system have been as below: "Other income" m 1896 includes: Dividends American Refrigerator Transit Co., $35,240; Pacific Express Co., $72,000; iuterest on Iron Mt. general oonsols., $52,150; int. on funding notes, $74,750; sleeping oarearnings,$94,329. 1896. 1895. 1894. Miles operated.·-···...... 4,938 4,937 4,992 Total earnings .•..•....... $22,oll,960 $22,672,004 $21,800,646 Net earnings.............. 4,597,898 4,738,738 4,420,849 Ratioexp.&tax'stoearns. (79·11) (79·099) (79·721) Other income, &o... ... . . . $532,492 $1,081,881 $741,439 Total net income . . . . . Interest paid on bonds... Rentals.................... Sundry accounts.......... $5,130,390 $5,550,700 496,944 344,507 $5,820,619 $5,440,381 511,610 458,874 $5,162,288 $5,128,378 520,777 1,446,488 Balance ......•.....•• def.$1,261,761 def.$590,246 def.$1,933,355 For the Missouri Pacific proper and branches, not including Iror. Mountain and other auxiliaries, the report was as follows: Year ending Dec. 311896. 1895. 1894. Miles operated December 31..... 3,164 3,163 3,229 Passenger earnings ..•............ $2,054,164 $2,235,245 $2,055,634 Freight............................ 7,355,368 7,571,640 7,391,310 Mall, express and miscellaneous.. 1,655,859 1,647,001 1,622,707 Total earnings ................ $11,065,391 $11,453,886 $11,069,652 Net earnings ...................... $2,012,926 $2,099,393 $1,959,081 Dlvidends,interest,&o.,reoeived. 494,814 967,328 677,929 Total net income .............. $2,507,740 Interest on bonds ................. $3,034,224 Taxes, rentals, &o................. ,1'924,132 $3,066,721 $2,955,158 932,423 $2,637,010 $2,778,092 1,648,035 Balance for year•............. def.$1,450,616def.$820,860 df.$1,789,117 11 Includes: Taxes, $649,638; rentals, $115,849: interest and exchange, $158,645, eto.-V. 64, p. 472,513,518,567,800,843, 1042.) Missouri Pacific System.-St. Louis Iron Mountain & Southern Ky .-Owns St. Louis to Texarkana., Texas Line, 490 miles; branches to Belmont, Mo., Bird's Point, Mo. (Cairo), Camden, Ark., Helena, Ark., Cushman, Ark., Arkansas City, Ark., Warren, Ark., Memphis, Tenn., &o., 747 miles; Houston Central A.rkansas & 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 Rock Junction railroads, 176 miles; Kansas & Arkansas Valley RR., 170 miles. Total operated December 31, 1896, 1,773 miles. 8TOCK.-8took $25,788,815, of which $25,716,105 Jan. 1, 1895, was owned by Missouri Paoi:flo-mostly acquired in 1881. BONDS.-The general consolidated mortgage is for $45,000,000, bonds being reserved to retire all prior issues, these ooverin~ only 485 miles. The mort. is a.first lien on the 947 miles in Arkansas and Louisiana. and on all unsold lands, amounting to 622,432 acres on Jan. l, 1897. Trus• tee of mortgage, Mercantile Trust Co. of New York. As indicated in the table above, part of the general mort~age 5s (Nos. 11,001 to 18,000 inclusive) are endorsed with the Missouri Paoilio's guaranty of principal and interest; form of guaranty was m V. 56, p. 650. Gold funding notes for $4,744,000 were authorized on the St. Louis & Iron Mountain in June, 1895, to provide for the floating debt and " ad· vanoes:" $1,495,000 are guaranteed by Missouri Pacific. N. Y. Stock Exohanfl,'ein Jan., 1898, reported $25,290,000 general consots listed. St. L. & I. M. first 5s ($4,000,000) and second 7s ($6,000,000J due May 1, 1897, were exte,nded in gold for 50 years at 412 p. o. and 5 p. c. re• speotively, the extended bonds being subject to call at 105. This re• funding reduces interest charges $120,000 per annum. Cairo A. & T. 7s for $1,450,000 were paid June 1, 1897, and oonsol. 5s are now a :first mortgage on the 71 miles of that road. (V. 64, u. 518, 1042.) ANNUAL REPORT.-Report for 1896 in v. 64, p. 514, showed: Year ending Dec. 311896. 1895. 1894. Gross earnings ................. $10,946,569 $11,218,117 $10,730,994 Net earnings ..................• $3,507,710 $3,551,470 $3,358,089 Other receipts.................. 37 677 114 553 63 510 / https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1896. Total net income............... $3,545,387 Interest on bonds ..... _........ 2,516,476 Taxes, bridge exp., rent'ls, &o. t840,058 1895. $3,666,023 $2,485,223 950,187 Jan. Aug. Mar. July Moh. 1, 1, 1, 1, 1, 1917 1920 1905 1926 1926 May 1, 1947 May 1, 1947 June 1, 1935 Apr. 1, 1931 Apr. 1, 1931 Mar. 1, 1905 1898-1905 Apr. 19, 1898 Jan. 1, 1937 Jan. 1, 1905 Apr. 1, 1916 Juiy: ·i; ·i945 July 1, 1945 June 1, 1946 Feb.28,'98,1% Dee. 1, 192·, July 1, 1927 Sept. 1, 193& Feb. 1, 1947 Var., '98-1904 $60,000 y'rly. Sept. 1, 1991 Sept. 1, 199~ 1894. $3,421,599 $2,350,286 1,215,552 ---- Balance for year ......•.... sur.$188,853 sur.$230,613 def.$144,239 t Includes taxes, $273,101; rentals, $381,095; car trust, etc.,$185,862• -(V. 62, p. 498,549; V. 64, p. 424,472,514,518,800, 1042.) Mobile & Birm.in~ham. KK.-Mobile to Marion Junction, Ala,, 149 miles; trackage to Selma, 14 miles; opened in July, 1888. HISTORY.-Reorganized afterforeolosurein 1895 perplan V. 60, p. 657 STOCK.-Com. and pref., $1,000,000 each; outstanding, $900,000 each. BoNDs.-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; Central Trust Company is mortgage trustee. The" mortgage incomes" are incomes to and including the July 1, 1899, coupon; trustee. Mercantile Trust, New York; in March, 1897, 2 p. o. was paid on incomes. EARNINGS.-5 months, t 1897 .....•. .. Gross, $126,346; net, $11,154 July 1 to Nov. 30. 51896 ......... Gross, 170,274; net, 54,354 ANNUAL REPORT.-Report for 1896-7 shows gross $358,380; net, $69,350; interest, $54,000; bal., BurJ,>-lus for year, $15,350. In 1895·6, gross, $295,226; net, $35,340. President, T. G. Bush. (V. 64, p. 518. Mobile & Girard KK.-Absorbed by CENTRAL OF GEORGIA RY. lUobile .Tackson & Kansas City KK,-Projeoted from Mobile to Jackson, 186 miles. About 20 miles of roadbed were built in 1868, In 1896 the Gulf City Oonstruotion Co. was organized to complete the road. See V. 62, p. 457. In February, 1898, 50 miles of track from Mobile northwest to Pascagoula River had been completed, on whiob $500,000 of bonds had been issued. · Capital stock is $4,000,000. President is F. B. Merrill. Among the directors are W. D. Stratton, of Drake & Stratton Co.; Lathrop R. Bacon, of New York; W. H. Smithe, of the Mercantile Bank of London. -(V. 62, p. 457, 990; V. 63, p. 459.) Mobile & Ohio BK.-( See Map.)-Owns from Mobile, Ala., to Co. lumhus, Ky., 472 miles, proprietary line, Kentucky & Tennessee RR .. to E. Cairo, 21 miles; branches to Columbus, Miss., &o., 34 miles; total owned, 527 miles; leases St. Louis & Cairo (which see), Cairo to St. L., 152 miles, with branch to Millstadt, 9 miles; total operated, 688 miles. HISTORY, ETc.-Opened in 1861; securities readjusted in 1879. Lands June 30, 1897, were 450,776 acres, valued at $246,976. GENERAL FINANCES.-In March, 1897, the company issued and sold $4,000,000 first mortga~e bonds on the "Montgomery Division of the M. & 0." to build and equip an extension from Columbus, Miss., toMontgomery, Ala., 168 miles, with branches, 27 miles. The entire extension is under construction and is to be completed early in 1898 -see V. 65, p. 736. On Dec. 1, 1897, there was no floating debt. ID January, 1898, new oars, locomotives and steel rails were contracted, for, which will call for payments of $60,000 annually. DIVIDENDS.-First div. (1 p. c .) pa.ya.ble Feb. 28, 1898.-V. 66, p.184 8TOCK.-8tock authorized, $10,000,000; outsta.ndin~, $5,320,600; par, $100. The voting power on $4,953,300 of the stock 1s 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. BoNDs.-Under the general mortgage of 1888 (trust.ea, 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 $866,000; $601,500 were in treasury and $7,415 in trust. Mortgage abstract, V. 47, p. 83. Interest on $4,000,00~ St. Louis & Cairo 4s is guaranteed. EA.RNINGS.-Six months report to Dec. 31, 1897, V. 66, p. 184, shows 6 mos. Gross. Net. Int. ch'ges, etc. Bal., surp 1897. -· ....... $2,134,949 $817,540 $520,348 $297,192 1896. ....... .. 1,990,526 764,110 521,383 242,727 Dividend (Feb., 1898) $53,206, sinking fund payment 53,206, leaving balance, surplus, for first six months $190,780. ANNUAL REPORT.-Fisoal year ends June 30. Reportfor year 1896·97 was given at length in V. 65, p. 724, 735. The increase in operating expenses was largely due to the floods of March, April and May, 1897. Year end'g June 30- 1897. 1896. 1895. 1894. Total gross earnings.$3,867,858 $3,619,071 $3,269,989 $3,253,692" Net earnings ......... 1,283,895 1,293,869 1,115,503 l,209.l037 P. ct. op. ex. to earns. (66·82) (64·25) (65·89) (62·oO) Interest and rentals. 1,060,126 1,059,632 1,034,354 1,037,323 Balance, surplus* .. $223,769 $234,237 $81,149 $171,714 * Equipment and new construction (additional to operating expenses) cost $172,331 in 1893•94; $186,557 in 1894·95; $143,645 in 1895·6; $204,450 in 1896-7.-V. 65, p. 232, '724, 735; V. 66, p. 82,184. !Tlohawk & Malon"' KK.-(SeeMap N. Y. Oentral.J-Owns from Herkimer, N. Y .. on the N. Y. Central's main line northerly to Malone, on the Central Vermont with branches, 181 miles in a.11. IN VESTORS' SUPPLEMENT. MAP OF THE MOBILE & OHIO RAILROAD AND ITS CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A R (VOL. LXV\.. JANUARY, 1898 93 RAILROAD STOCKS AND BONDS. j Sub8crlber8 will confer a great favor by giving Immediate notice of any error discovered In the8e Tables. RAILROADS. Por explanation of column headings, &c., see notes I on first page of tables. Monongahela Ri 'IJer RR.-lst M.,g.,gu.B.& O.,end.c k Consol. M., $1,500,000 g., s. f m 1898, red.at par Montgom'yBettL.-lstM.,$200,000,lawfulm.oney.c ontgomery & Erie Ry.-lst m. (old 7s ext. in '86) 2d morti_lage (old 7s extended in 1887) . . .. . ..... . Morgan's a.~ Texas-N. 0. Opel. &Gt.West. lstM. 1st mortgage (New Orleans to Morgan City) . .. c* let mortgage, Alexandria Extension, gold ........ General mortgage . ................. . ........ . ...... JlorriB ~ Essw-Btock, 7 c. guar. D. L. & W ...... 1st mortiage, sinking und .•...................... Converti le bonds ...........•...................... Gen. M. & lat on Boonton Br. &c. (~ar. D .L.&W.) Consol M. (for $25,000 000) guar. . L. & W .c*&r ~cial real estate bonds .......•.................. orris & Essex Extension stock, guar. 4 per cent. t. Oarbon ~ Port Oarbon RR.-Stock (rent'! guar.) Mt. Holly Lumb. ti Medf'd-lat M. gu. p.&i. Pa.RR. Muskegon G1·. Rapids~ Indiana-lat mort., iold .. Nashua ~ Lowelt-Stock,9 p.c. rental,92 yrs. .&M. Bonds not mortgage, assumed by lessee .......... N<Uh'IJitle Ohattanooga ~ St. Louis-Stock ........... 1st mortgage (for$6,800,000) ••............•. c*&r 2d mortg8#ie, gold or silver ....•............... c*&r 1st M. on ayette. andMcM.brs.($6,000p.m.)c*&r let mortgage on Lebanon Branch ........•...... c* 1st M. on Jasper Br. ($90,000 are 8s, due 1906)c* 1st mortgage on Centreville Branch, fold .... c*&r 1st M. on Tracy City Br. (Tenn. C. & . RR.) .c*&r 1st M. on Bon Air Br., red. at par aft. .July '97, .. . c .. Consol. M. ($20,00~000), $20,000 p. m., gold ... c" W. & Atl. incs. ($6 0,000),$26,000due"'y'rly,g.c. fu. Bonds-PrinctINTEREST OR DIVIDENDS. Miles Date Size, or Due. Amount Rate per When Where Payable, and by pal,When of Par of Stocks-Last Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. 32 --- --- ----- ---- 1889 $1,000 5 g. F. & A. N. Y. Central Trust Co. Feb. 1, 1919 $700,000 1895 1,000 1,163,375 5 g. J. & D. Ba.It., Annap. Bkg.& Tr. Dec. 1, 1945 1890 1,000 200,000 6 J. & J. N.Y.,Metropol'nTr.Co. Jan. 1, 1910 · ·-· ...... 130,000 M.&N. May 1, 1926 5 Goshen, N. Y. ·--· 1866 1867 A. & 0. 40,500 5 do do Oct. 1, 1927 .. 678 1859 A. & 0. N. Y.,S.Pac.Co.,23Broad Apr. 1, 1899 249,002 5 102 1878 1,000 A. & 0. 5,000,000 7 do do Apr. 1, 1918 157 1880 1,000 1,494,000 6 g. J. & J. .July 1, 1920 do do 204 1893 1,000 1,000,000 5 .T. & .T. do do .July 1 1913 50 15,000,000 7 J. & .T. N. Y., Del. Lack. & West. .Tan.,'98,3¼% --·· 1864 500 &c. 5,000,000 M.&N. do May 1, 1914 7 do Var'us 1,000 281,000 7 .T. & .T. do do .Tan. 1, 1900 1871 1,000 4,991,000 A. & 0. 7 do do Oct. 1, 1901 i37 1875 1.000 11,677,000 7 .T. &D. do do .Tune 1, 1915 Var'us 2,795,000 4¼& 5 do Various. do 2 .... 221,000 4 M.& N. do do Nov., '97, 2% .... ··-· 50 282,350 12 J.& .T.15 Jan. 15.'98,6% ... 75,000 7 A. & 0. Phila., Broad St. Stat'n. Apr. 1, 1899 37 750,000 5 g. J. & J. Jan., '95, paid Feb., '97 .July 1, 1926 15 100 800,000 M.& N. Nashua, Indian Hd. Bk. N'v.1,'97,4¼% 9 100,000 do do July 1, 1900 5 .T. & .T. 10,000,000 5 in '97 . Q.-F. N. Y. and Nashville. Feb.l,'98, 1% 340 1,000 6,300,000 J. & .T. N. Y .. ContinentalN. Bk. .July 1, 1913 7 321 1881 1,000 1,000,000 .T. & .T. do do 6 Jan. 1, 1901 125 1877 1,000 750,000 .T. & J. do do 6 .Tan. 1, 1917 29 1877 1,000 300,000 J. & .T. do do 6 Oct. 1 1917 43 '77·'83 1,000 461,000 6g. &8 J. & .T. do do Jan.,1906&'23 46 1883 1,000 376,000 6 g . .T. & .T. clo do .Tan. 1, 1923 20 1887 1,000 460,000 J. & J. 6 <lo do .Tan.1899 to'l 7 7 1887 1,000 114,000 .T. & .T. rto do .July 1, 1917 6 740 1888 1,000 5,594,000 Apr. 1, 1928 5 g. A. & 0. do do 5 g. J. & J. do do .Tan. 1, '99·'20 ··-· 1895 1,000 See text. ---· ·so ·si ---· HISTORYi LEASE, ETc.-In 1893, N. Y. Central leased the road and :guaranteea its first mortgage bonds: The surplus in any year after 11ayment of the first mortgage mterest for that re_ar to pay not exceedin~ 5 per oent interes~ on the incomes. A dtVIdend or 2 ()er cent on the incomes was paid R.ept. 1 , 189~. N. Y: Central owns the $4,500,00(? stock, a_nd has the option of retirmg the mcomes at any time, and 1ssumg in lieu thereof 2 ~ mortgage guaranteed gold 4 per ,cents, due Sept. 1, 1~91. See offlm~ statement v_. 56 , P, 5 o1. As to bonds, see V. 56, :v. 78:.:. (V. 57, :v. 22, V. 61, P• 926, V. 63, p. 116, 31l.) Monongahela River KK.-Road from Fairmont to Clarksburg, W. Va.. 31 miles. Road opened in 1890. Capital stock is $1,300,000; par, $100; outstanding, $1,274,400. The tlrsts (Central Trust Co., N. Y., trustee,) are guaranteed principal and interest by the B. & O. -Consols . "coal oonds", (trustee, American Banking & Trust Co., of Baltimore) were authorized to pay for the construction of branch ~oads not more than 50 miles in length. On Jan. 1, 1!'97, $336,625 -console were in the treasury. Bee description of first mortgage, etc., p. 6 of SUPPLEMENT, April, 1896. There arA car trust 6s, principal -0utstanding Jan. 1, 1897, $183,100; interest $31,096; interest paya• bleat Mercantile Trust Co., Baltimore, Md. EARNINGS.-Statement for yf'ar ending Dec. 31, 1896, was in V. 64 p, 949 and 998, 8howing, gross, $210,353; net, $108,244; int. and taxes, $38,215; balance surplus, $70,029. In 1895, gross, $206,695; net, $109,455; int. and taxes,$38,270.-(V. 64, p. 949, 998.) Monterey & Mexican Gulf KK.-Owns road completed in Aug• ust, 1891, from Venadito (on the Mexican International Railroad) via Monterey to Tampico, on the Gull, about 390 miles. See v. 62, p. 85, HIST0RY.-Purchased in November, 1895, at foreclosure sale, under the 1st mortgage of 1888 by the Societe Anonyme Belge de Chemin -deFer au Mexique, which has capitalization as follows: Capital stock, 10,572 9 10 shares, each share representing $1,000 in bonds or matured coupons of the Monterey & Mexioo Gulf RR. Co. 160 33 50 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. EARNINGS,-11 months, l 1897 ...... Gross, $1,281?,563; net, $581,239 .Tan 1 to Nov. 30. 51896 ...... Gross, 1,03.J,090; net, 343,653 For year ending Dec. 31, 1896, gross, $1,152,748; net, $399,228. In 1895, gross, $1,211,875; net, $384,674. (V. 65, p. 729; V. 66, p. 82.) Mont_goinery Belt Line Ky.-Owns real estate and a belt line in MontgomPry, Ala., abovt 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 of the stock. Capital stock is $200,000; par, $100. Montgomery & Erle Ky.-(See Map Erie Railroad.)-Ownsroad from Montgomery to Goshen, N. Y., 10 mile1:1. Road opened 1867. Leased in 1872 to N. Y. L. E. & W. (now ERIE RR.-which see.) Rental is $16,000 per annum. Stock, $150,000. Dividends (4¼ per cent per annum) are paid May 10 and Nov. 10. Sinking fund $6,500 per annum. Montreal & Vermont .J"unctlon Ky.-Road from Vermont Stateline to near St. Johns, Que., 23 miles. Operated by Central Ver• mont. In March, '97, rental reported reduced from $50,000 to $27,600. Morgan's Louisiana & Texas KR. & Stea01shlpC001pany. -( See Map of Southern Pacijtc.J-Ro.AD-Owns .Algiers to Cheneyville, 204 i:µiles; branches, 55 miles; trackage to Alexandria, 24 miles; total railroad lines, 283 miles; steamship lines and ferries, 3,176 miles. ORGANIZATI0N.-The Southern Paciflc Company, on Jan. 1, 1896, 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 eteamers and tugs plying between New York and New Or• leans and between Gulf ports; also wharves, warehouses, ana on .Tan. 1, 1896, owned $726,500 bonds and $772,298 stock of other companies. 1lle general mortgage bonds of 1893 for $1,000,000 were sold in 1895. iEARNINGS.-5 months, l 1897 ....... Gross, $1,997,500; net, $41\l,278 July 1 to Nov. 30. 5181J6 .•..... Gross, 2,396,041; net, 845,449 In year ending Dec. 31, 1896, gross, $5,339,6a9; net, $1,602,117. In 1595, gross, $5,967,946; net, $1,591,551; surplus over charges, $449,· '667; net profits due company under lease to Southern Pacific, ,$479,241; income from investments, etc., $139,322. lf.lorrl8 & Essex KR.-( See Map of Delaware Lackawanna cl Western.J-Owns from Hoboken, N . .T., to Phillipsburg, N. J., 85 miles; /branch, Denville, N. J., via Morris & Essex Tunnel, to Hoboken, N • .T., :35 miles; leases 16 miles; total operated, 136 miles. LEASE.-Leased in perpetuity to Delaware Lackawanna & Wast., which assumed all liabilities and pays 7 p. c. per annum on the capital stock. -See form of guaranty, V. 56, p. 812. EARNINGS.-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 annual 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 1894 gross earnings of road proper (119 miles) were $5,370,785; net, $752,328. In 1893 gross, $5,791,267 ; net $1,164,471. In 1892 gross, $5,772,665; net, $1,149,429. Mount Carbon & Port Carbon RK.-Owns Mt. Carbon to Palo Alto, Pa. , 3 miles; second track, 21g miles; total track 19 miles. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ----- --ioo isss i:ooo ---· isso ··ioo is7s ILeased March 5, 1860, for 50 years to Phila. & Reading RR. and lease assumed in 1896 by Phila. & Reading Rail way. Rental $36,250 yearly. Muskegon Grand Rapids & Indiana KK.-Owns road Grand Rapids to Muskegon, Mich., 37 miles; trackage, G. R. & Ind. at Grand Rapids, 3 miles. Road opened 1886, and leased to Grand Rapids & Indiana RR .. which was foreclosed in 1896. Stock, authorized, $350,000; par, $100; issued, $1,000. Coupon of Jan., 1895, was paid in Feb .. 1897. Earnings for year ending Dec. 31, 1896, gross, $121,620; net, $31,360; interest on bonds, $37,500. In 1895, 1,rross $116,400; net, $21,572. President,W. O. Hughart, Grand Rapids, Mich Nashua & Lowell KK.-Owns double track road from Lowell, Mass., to Nashua, N. H., 15 miles. On Oct. 1, 1880, leased for 99 years to Boston & Lowell. In 1887 lease was transferred to Boston & Maine, which pays a rental of $73,000 (9 per cent on stock). Nashvllle Chattanooga & St. Louis Ky .-(See Map.)-Owna from Chattanooga, Tenn., to Hickman, Ky., 320 miles; branches to Lebanon. &c., 447 miles; leases Western & Atlantic, Chattanooga, Tenn.. to Atlanta, Ga., 137 miles; total operated, 904 miles. In 1896 the N. C. & St. L. directors leased the Memphis & Paducah Division (consisting of Paducah Tennessee & Ala., 119 miles, and Tenn. Midland) 136 miles,) of the Louisv. & Nashv. See V. 65, p. 679. Mid• dle Tennessee & Ala., Shelbyville, Tenn., to Decatur, Ala., 32 miles, was purchased in October, 1897. V. 65, p. 621. ORGANIZATION.-A majority of the stock ($5,500,500) ls owned by the Louisville & Nashville, and pledged under its unified mortgage, etc., so that the two systems are operated in close harmony. The Western & Atlantic is leased from the State of Geor,lda for 2!l year11 from Dec. 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. DIVIDENDS( 1888 1889 1890 1891 1892 1893 '94 '95 '96 '97 since 1887. 5 414 5 5 5 5 3¾ 31g 4 3 below. In 1897 Feb., 2 p. c.; 1 p. c. for Nov., 1896, dividend deferred; Mav, 1 p. c.; Aug,, 1 p. c.; Nov., 1 p. c.; in 1898, Feb., 1 p. c. ~ B0NDS.-The Tracy City branch 6s fall due $20,000 yearly on Jan. 1 to 1916 inclusive, and $100,000 on .Tan. 1, 1917. The consolidated mortgage of 1888 (United States Trust Co., trul'tee), provides that all prior bonds shall be paid otf at maturity; sufficient of the $20,000 per mile are reserved for them. Western & Atlantic income mort~age 5s for $650,000, (Central Trust Co., N. Y., trustee), were issued in 1.895 to reimburse the N. C. & St. L. for renewals and improvements made on that road. The incomes are secured by mortgage on all W. & A. property in possession of N. C. & St. L .• and also cover the $500,000 State or Georgia. bonds deposited as security for the lease. Each Jan. 1 26 bonds fall due; in Jan., 1898, $572,000 were held in treasury and balance canceled. Duck River 2ds (now firsts) $22,000 gold 6s, due Nov. 1, 1909, interest M. & N., are outstanding. See V. 61, p. 519. GENERAL FINANCES.-Bllls payable incurred in purchase of Rome RR., etc., were $1,233,240 on July 1, 1897. Consol 5s for $500,000 were listed in February, 1897, issued for extensions. V. 64, p. 330. LATEST EARNINGS.-6 mos.~ 1897.Gross, $2,910,829; net, $1,059,405 July 1 to Dec. 31. 51896.Gross, 2,'5 66,019; net, 1,010,398 A.NNuAL REP0RT.-Flscal year ends June 30. The report for 1896·97 was given at length in V. 65, p. 664, 678. Year ends June 30. 1897. 1896. 1895. 1894. Mileage end of year.. . 901 906 902 884 Gross earnings .....•.. $5,116,118 $5,074,625 $4,608,502 $4,521,662 Net earnings ...... . .•. 1,911,448 1,910,275 1,882,142 1,850,482 18,424 Investments, etc...... 41,002 33,443 ---- ---- Net income•. ...••• $1,911,448 $1,951,277 $1,900,566 $1,883,925 Int. on debt and tax •.. $1,088,420 $1,078,470 $1,077,425 $1,022,571 420,012 420,012 Rental W. & A. RR.. . 420,012 420,012 21,859 25,537 Improvements . . . . . . . . .. .. . •..... . Dividends ..........•.. (4) 4.00,000 (4) 400,000 (4) 400,000 (2lg)250,000 Balance ...•.... . .. sur.$3,016 sr. $52,795 def. $18,730 sr. $165,805 -(V. 63, p. 458. 484, 499, 509, 794, 1010, 1063; V. 64, p. 135, 330; 6'78; v. 66, p. 82.) Nashvllle & Decatur KK.-(See Map Louis'IJille cl Nash1'ille.JOwna from Nashville, Tenn., to Decatur, Ala., 119 miles. Leased to Louisville &Nashville for 30 years from .July 1, 1872, at a rental of 6 p. c. per annum on stock. The lessee assumed a.ll the debt and owned (Oct., 1896) $938,800 of its stock. On Oct. 10, 1896, sinking fund held bonds of face value $659,000, of which $630,000 were N. & D. firsts. EARNINGS.-Earnings are now included in L. & N. reports. In 1892 '93. gross $1,468,199; net, $$450.664; interest, $147,000; balance for.dividends, etc., $303,664. In 1891·92 gros:,a , $1,443,431. Nashville Florence & Sheffield Ky.-(See Map LouiB'Dille cf Nasht1ille.J-Owns from Columbia, Tenn., to Sheffield, Ala., 82 miles, with branch Iron City, Tenn., to Pinckney, Tenn., 12 miles; operates Napier br., etc., 14 miles; total, 108 miles. Operated by Louisville & Nashville, which company guarantees the principal and interest of the bonds by endorsement, and owns $729,400 of the $872,385 stock, par $100. Stock authorized, $2,000,000. For year 1895·6, gross, $195,930; net, $33,598; interest, $104,800; t axes, $7,430; balance, $78,632. v. 65, p. 278, 621, 664, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE 0 • NASHVILLE, CHATTANOOGA. ST, LOUIS RAILWAY RAILROAD .JANUARY, 1898.] STOCKS AND BONDS. 93 Subscribers -will conf'er a great favor by glvln~ bnJD.edlate notice oC any error dlseovered In these Tables. Bonds-Pnnol RAILROADS. INTEREST OR DIVIDENDS. Miles D ate Size, or Due. Amount R a te per When Where Payable, and by -pal,When Par For explanation of column headings, &c., see notes of of Stocks-Last Outstanding Road. Bonds Value. on first page of tables. Cent. Payable Whom. Dividend. --- Ir Nashville d! Decatur-Stock, guar. 6 c. b~. & N. 119 1st mort., guar., a. f. ($200,000 he din a . fd.). 119 91 Nash. Flor. d! Sheff.-1at M. ($2,500,000), gold, gu.c Nashville d! Knoxville-lat mort. for $2,000,000 .. c* 73 National Docks Railway-Stock ................ . .... .... Nels. d! Ft.Shep.-lst M., 1.#n'., s.f., g., $1,500,000.c* Nea(J'lUhoning Vat.-Btock, 5 p.c. gu. till 1904 ....... ··is Nevada,-Oalif.-Oregon.-lst M. $2,200,000, gold. N eva<ia Oentrat-lat M. f(., non-cum., inc.. (a. f.). C. ·94 Newark Somerset <I Straitsv.-lstM.,ext.in '89, g.c* 44 NewlYurg Dutchess <I Oonnecticut-Col. trust bonds. .... Income mortgage for $1,625,000 ..•............. r New Oastle <I Beaver Valley-Stock ................•. ·15 New Castled! Shenango Valley-lat M., int. guar•.. 17 New Engtand RR.-Common stock............•••••. Pref stock, 5 p. ct., non-cum ..................... _ N.Y.&N.E. lst M. ($6,000,000 are 7s) currency.c* s2i 1st consol.M., $17,500,000, gold, gu.,p.& i., end.c* 361 N.Y.&N.E. Boston Term. lstM.for$1,500,000 .cx New Jersey Jimcti-On-lat. M., ~ar. by N. Y.Cent.c&r ···5 New Jersey d New York-SEE RIE RR. Co. New London Northern-Stock ..•.......•...•......•.. 121 Consolidated M., now 1st M. ($688,000 are 48) .c* 121 New Orleans <I NorthEastern-Priorllenm., gold.c* 196 1st mort~age, ~old ....•....•...••.••............... 196 N. O. <I Nor hwest n-Receiv's ctfs., g ., au. $500,000 .... 1st mortgage, $20,000 per mile, ~old ........ o*&r .... New Orleans d! West.-lst Ter. M.,$ ,000,000, g . . c~ .... 2d mortg~e, ,2,000,000, gold .... _.............. llewport <I incin. Bridge.-Btock, $1,500,000 .. ... 1st M., $1,500,000, g., a. f. guar. p. & i. end by Pa. ---· ---- co:o• ...... 1870 1887 1888 $25 1,000 1,000 1,000 is9s i:ooo 50 .... isss 1,000 1869 500 &c. 1891 59 1877 50 1,000 1887 100 .... 100 1,000 1876 1,000 1895 1889 1886 ---- i:ooo isso 100 1,000 1,000 1,000 isi}o -··-·· 1,000 1,000 1,000 100 1,000 1885 1881 1895 1897 1895 National Dock• Hy.-Road extends from West Shore RR. at Weehawken to Constables Hook, N. J., 6·6 miles; Communipaw br., -0·38 miles; Kill von Kull branch, 0·54 miles; other branchef:! 0·79 milt· s; total, 8·31 miles; second track. 7·28 miles. Road opened Dec.1, 1883. ,Stock June 30, 1895, $2,750,000; unfunded debt, $26,332. EARNINGS.-For year ending June 30, 1896, gross earnings, $247,849; net, $159,275; charges, :+511,03~; bal., surplus, $148,243. In 1894-95 -net, $156,359. Office, 45 Broadway, N ew York.-V. 64, p. 518. Nelson & Fort Sheppard Hy.-Owns from International Bounda r y to Kootenai Lake, B. C., 60 miles. Completed in March, 1894, in the interest of Spokane Falls & Northern Ry., which see. E arn· lings J a n. 1 to Aug. 31, 1897 (8 months), gross,$101,295; net, $54,188. Nesquehoning Valley KK.-Owns from Nesquehoning Junction, Pa., to Tamenend, Pa., 17 miles; Tunnel Branch, to Lansford, Pa., 1 mile. Leased for 999 years to the Lehigh Coal & Navigation Company. In 1884 the option to purchase the atoclr at par and interest was susP.ended <for 20 years, with a ~ua.rantee of 5 per cent per annum on stock. Ne-w-ark SoJD.erset & Straitsville KK.-Owns fromNewark,O., to Sb.awnee, 0., 44 miles; branch 3 miles. Leased to B. & O. till Nov, 1, 1929, for taxes and 30 p. c. of gross earnings, but minimum rental to be ~40,000. Interest on fl.rat 5s due May 1, 1896, was not paid. Stock, <1ommon $795,600, and preferred, $230,900 (par both, $50). ,S705,550 of the first and $191,850 of the latter owned by Baltimore & Ohio. See description of mortgage, etc., p. 6, SUPPLEMENT of April, 1896. E a rni n gs sta tement for year ending June 30, 1897, in V. 65, p. 974, shows _$'1"08S, $12L,693: deficit under operating, $16.913; t ax es, $3,637; -intereRt (not paid), $40,000; bal., aeflcit for year, $60,600. In 1895-96, .gross, $143,104; net, $7,295; rental, $42,931; taxes, $5,814; loss to lessee, $41,450.-V. 63, p. 1008; V. 65, p. 9'74. Ne-w-burg Dutchess & Connectcnt KK.-Owns fromDut chess .Junction, N. Y., to Millerton, N. Y., 59 miles. A r eorg anization in 1877. STOCK, ETc .-Common, $500,000; pref., $600,000; par $50. There were June 30, 1897, $:.!26,000 coll. tru t 5s; $1,164,500 income 6s, :$42,500 of 5 p. c. real estate M. notes and $10,581 bills p ayable. In year endin~ June 30, 1897, gross, $131,058; net, $25,183; interest, -taxes, etc., :i;23,279; bal., surplus for year, $1,904. In 1895·6, gross, :$155,688; net, $22,528. (V. 63, p. 556,698; V. 65, p. 568.) Ne-w- Castle & Beaver Valley KK.-Purchased by Penna. Co. in 1895. New CaNtle & Shenan 00 o Valley KK.-Owns from Newcastle Pa., to West Middlesex, Pa., i7 miles. Leased to Nypano RR. till 1982 f or rental of 32 p. c. of gross earns., but interest on bonds guaranteed. Ne-w- Eno-land KK.-NewYork New Haven & Hart. RR. owns a majority of 'ihe stock, but road is operated independently, embracing: Lines Owned. Miles. , Leased tines. r,r See thi s Oo.J Boston to HopewellJunc, N.Y.215 *Norwich & Worcester RR.1[ ... 66 Wicopee to Fishkill Landing... 2 Rhode Island and Mass. roads. 14 Providence to Willimantic. . ... 58 (temporary agreement.) Newton to Woonsocket, R. I. .. 29 Rockville RR................... 4 East Thompson to Southbridge 18 Providence & Springfield RR.1[ 28 East Hartfort, Ct., to Springf'd 28 Woonsock~t & Pascoag RR.11" i 9 Other lines...................... 12 o per. under temporary a g't 5 Milford branches ......: . _..... 20 Double track ...•...•....•...••• rr4 Trackage ............... . . .. .... 25 Total, [362 miles owned, 141 m. eased and 25 m. trackage] ...... 528 * Company controls, throu~h lease of N. & W., the Norwich & New York Transportation Co.'s lme or. steamers, J 25 miles. HISTORY.-A reorganization of the New York & New England, (sold n foreclosure July 9, 1695,) as per plan V. 58, p. 762. Old common stock paid assessment of $20 per share. Controlling interest in the stock was acquired in 1895 by the New York New H a ven & Hartford, which owns $11,770,000 common and $1,254,900 preferred stock . As to modtfl.cation of leases, reducing rentals, see report for 1895-96, v. 63, p. 698. BONDS.-The consolidated mortgage of 1895 is for $17 500,000 of 5 p. c. bonds; in February, 1897, $5,000,000 of consols had been issued and stamped guaranteed principal and interest by the N. Y. New Haven & Hartford R &., "but if any payment be demanded upon this guh aranty this bond shall, at the option of said guarantor or of the then older thereof, be exchanged for a debenture of tb.e guarantor for the same amount and at the same rate of interest, both payable in like gold coin for the then unexpired term of this bond." See V. 64, p. 611. Mort• gage trust"'e i s Manhattan Trust Co., N. Y. There are $10,000,000 bonds reserved to retire N. Y. & New England firsts, undisturbed. Loans a nd bills p a yable Sept. 30, 1897, $100,000. E ARNINGS.-Earnings for the quarte r ending Sept. 30: 3 mos. Gross. Net. Other inc. Inte1·est, d!c. Sur. or def. 1897 . ... $1,635,275 $445,584 $8,293 $398 .238 sur.$55,639 1 896 .... 1,356,721 249,919 6,413 388,757 def.132,425 Norwic>h Line steamers (ex cluded in 1 896 figures a bove) had a sur· plus of $38,750, thus reducing the deficit from $132,425 to $93,675. ANNUAL REPORT.-Fiscal vear now ends June 30. Report for 1896· '97 was given in V. 65, p. 726, showing gross, $5,237,191; net, $976,ld0efl.Oc;1_totfhoerryienacro,m$e2,4$289,84. 6;I interes~, rentals, etc, $1,308!041; balance_, ,095 .n 1895 6 gross, $5,944,081, net, $1,435, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $2,337,582 6 J. & D . Nashville. D ec., '97, 3 % 2,100,000 J. & J. N. Y., 120 Broadway. July 1, 1900 7 2,096,000 5 g. F. & A. N. Y. and Louisville. Aug. 1, 1937 1,184,000 1918 M.&N. N. Y., Mercantile Tr.Co. 6 3,250,000 Seebel'w Bee text • ....... 1,381,000 6 g. J. & J. N. Y., Chase Nati. Bank. July 1, 1943 1,418,600 M. & B. Phila., 108 Bo. 4th St. Sept.,'97, 212% 5 ,Tan.'97none N. Y., Moran Bros. 20 years. 6 g. J. & J. 750,000 5 g. J. & J. No coupons paid. July 2, 1938 800,000 Nov., '95, roup. last pd. Nov. 1, 1929 M~ & N. ~ g. 226,000 1921 M.&N. S. Y., Central Trust Co. 1,164,500 When earned. June 1, 1977 6 700,000 Bee text. ·-&·. Pittsburg, Pa. Bee text. 250,000 6 g. J. J. N. Y., Farm. L. & Tr. Co. July 1, 1917 20,000,000 ........... . ....... ...... 5,000,000 ..&.. 10,000,000 ii&.'7 J. J. Bosto11, B. De8.& Tr.Co. Jan:·1;·i905 5,000,000 ,Tuly 1, 1945 Boston. fflce. 5 g. J. & J. 1,500,000 4 A. & 0. Boston, 180 Sumner St. Apr. 1, 1939 1,700,000 4 F. &A. N. Y. Cent. & Hud. Riv. Feb. 1, 1986 ---·· --------- 1,500,000 1,500,000 1,320,000 5,000,000 446,345 1,540,000 1,500,000 (1) 1,500,000 1,400,000 New London, Office. Jan.2 '98,2¼% Q.-J. 9 4&5 J. & J. N. Y., Bk. of No. Amer. July 1, 1910 6 g. A. & 0. N. Y., Central Trust Co. Nov. 1, 19115 6 J. & J N.Y.,Miiller,Bchall&Co. Jan., 1911 ···5·~5 g. 4 g. Ja:a·1;·i940 In default. J . ··&:·J. J . & J. Jan.,'97, coup. last paid July 1, 1946 March. . ......... March 1, 1900 ··4;i~· g. J. ..&.. J. N.Y.,Farmers·i:.&T.Co. Juiy · 1; .i94r> 113. The average freight train load was 210 tons, again~t 181 tons in 1895·96.-(V. 64, p. 83, 424, 611, 664,953; V. 65, p. 328, '726, 869.) New Jersey Junction KK.-Terminal road through Jersey City, Hoboken :!-ud Weehawken, about 5 miles. Leased for 100 years from June 30, 1886, to New York Central which ~uarantees the bonds absolutely and owns $100,000 stock. The mortgage is for $4,000,000. The National Docks & New Jersey Junction Ry. connects this road with the National Docks Ry.-See V. 64, p. 518. Ne-w- .Jersey & New York KK.-Owns from Erie Junction, N. J .. to Ga.rnerville, N. Y., 29 miles: branches to New City, etc., 5 miles; operates to Haverstraw, etc., 14 miles; total operated, 4~ miles. Erie RR. in A prll, 1896, purcha sed control. Stock, $1,440,800 common; $787 .800 preferred; par, $100. Control is with preferred stock and tlrst mortgage till 6 per cent has been paid on preferred for three years. EARNINGS-Year ending June 30, 1897, gross, $265,396; net, $46,8 23; inter est, etc .. $ 51,033; bal., deficitforyear, $i,210. In 1895-6 gross, $332,748; net, $70,006.-(V. 64, p. 424; v. 65, p. 822.) New London Northern KK.-Owns from New London, Conn., to Brattleboro, Vt., 121 miles, and leases Brattleboro & Whitehall RR., Brattleboro to South Londonderry, Vt., 37miles. LEASED for 99 years from Dec. 1, 1891, to Central Vermont. The rental 1s $211,000 per annum, which leaves a small surplus after providing for inter., etc., and 9 p er cent dividends. Taxes and improvements met by lessee, without claim on New London Northern. DIVIDE~s.-From 1888 to Jan., 1892, inclusive, at rate of 7 per cent per annum; then 2 per cent quarterly to October, 1893, inclusive, and since to January, 1898 (inclusive), 214 per cent quarterly. EARNINGs.-Ex cluding Bra ttleboro & Whit eh all gross for year ending June 30, 1897, were $718,955; net $168,421. In 1895·6 grQss, $663,786 ; n et, $25 6,822 . Mr. Little's report on Central Vermont (V. 64, p. 606, showed earnings of New London Northern and Brattleboro & Whitehall for year ending June 30, 1896, as follows: gross, $906,277; net, $33!,085. Mr. L.'s deductions for improvements, equipme't, etc., $23,148; rentals, taxes, etc., $243,504; bal., s urplus to lessee, $67,433. In 1894•5, gross, $859,577; net, $324,250. (V. 61, l). 472; V. 63, p. 400.l New Orleans & North Eastern KR.-New Orleans, La., to Meridian, Miss., 196 miles, all 60 lb. steel rails. Stock $5,000,000 (par, $100), of which ~,320,000 and $4,900,000 1st 6s are held by Alabama New OrleanR Texas & Pacific Junction Ry. Co., to which was due July 1, 1897, $1,455,296 on coupon and $740,768 on other accolilnts. EARNINGS.-Report for 189 6·97 was in V. 65, p. 617. Yr. end. June 30. G1·oss. N'et. Other inc. Inte1·est. Balance. 1896-97......•. $1,313,253 $298,4 26 $1,236 $379,200 def. $79,538 1895-96.......• 1,419,720 366,971 1 ,115 379,200 def. 11,114 -(V. 65, p. 61 '7). Ne-w- Orleans & North-w-esternKy.-OwnsfromNatchez, Miss .. to Bastrop, La., 102 miles. Stock. paid in, $4,500,000; par $100; 25 miles of road (Rayille to Bastrop) was completed with proceeds of certificates in 18H4. Louis K. Hyde, Titusville, Pa., is now receiver. For year ending June 30, 1897, gross, $130,907; net, $43,120. In 1895-96 not reported. In 1894-5, gross,$128,693; net, $46,707; other income, $13,929; charges, $129,493; bal., deficit, $68,857. (V. 57, p. 46'7.) New Orleans & Southern KK.-Bee Louisiana Southern Ry. Ne-w- Orleans & Western Kailroad.-Owns a beltrailroad encircling the city of New Orleans and connectirig with all the rail roads entering that city. Entra nce to business centre is had over the tracks of the East Louisian~ Railroad. Owns a large terminal property at Port Chalmette, containing about 2,300 acres, with 80 cotton warehouses, capa city of 250,000 bales, a grain elevator, etc. R ECEIVERSHIP-On Jan. 10, 1898, President C. B. Van Nostrand (36 Wall St., New York) WR.S a ppointed receiver. Interest due July 1, 1896, and since is in default. V. 66, p. 134. The first mort. trustee is the State Trust Co. of New York. Common stock $6,000,000 ; nar, $100. In February, 1897, a second m0rtgage for $2,000,000 was authorized, of which $600,000 were issued, to fund the floating debt and provide for improvements.-(V. 56, p. 82, 134.) Ne-w-port & Cincinnati Bridge Co.-Owns bridge over the Ohio River from Newport, Ky., to Cincinnati, 0. Bridge opened 1872 and recJnstructed in 1895-96. Louisville & Nashville is under contract to use the bridge; rental, $115,000 annually. STOCK.-Btock $1,500,000, of which Pa. Co. owns $1,329,700. EARNINGS.-For year ending Dec. 31, 1896, gross $1~0,427; net, $100,291; interest , $51,750; reconstruction, 179,206; b alance deficit, $130,665. In 1895, gross, $124,519; net, $96,688; charges, against income $63,250 ; balance, surplus, $33,438. President (July, 1 897), Joseph Wood; Trea surer, T. H.B. McKnight, Pittsburg, Pa. (V. 63, p. 1011, 1159.) Ne-w- York Brooklyn & Manhattan Beach Ky.-Owns from Fresh Pond Junction to Manhattan Beach (Coney Island), and branches to Bay Ridge a.nd Greenpoint, 20 miles, of which 16 miles double track. LEASE, ETc.-A consolidation August 27, 1885. Leased for 99 years from May 1, 1882, to the Long Island RR. Co. at 35 per cent of gross earnings, rental guaranteed to be at least 5 per cent on pref. stock. BONDS.-The mortgage of 188~ is for $2,000,000 and is now a fl.rat lien. (V. 63, p. 1116.) Trustee 1s Central Trust Company. The L. I. INVESTORS' SUPPLEMENT. 96 rvor.. LXVI. 8ub11crlber11 wtll confer a great f'avor by giving IJDJDedlate notice ot any error d.111covered in theae Table11. Bonds-Prind INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size,or pal, When Due, Amount Par of Stocks-Last l'or explanation of column headings, &o., see notes of Rate f.er When Where P-Mi_able, and by om. Road. Bonds Value. Outstanding Cen . Payable Dividend. on first page of tables. N. Y . Brooklyn ti Man hat. Beacli-Comm on stock .. Preferred stock. non-oumula ti ,e. . ................ 1st con. M. (now 1st M.) gold, guar. oy L. I. . . . o* 1'tw York (I Oanadar-Stook ......... ..... . . .. . ..... . . lstmortgage sterling, guar. D. & H. Can. .. ..... o• Debentures, g., guar. p. & i. end. Del. & H. Canal. New York Cent,r al & H'll,dson B ·i ve1·-Stook . . .... N. Y. C. & H., { $30,000,000 coupon or reg { lstmort.... £2,000,000 · Debt certificates (N. Y. Central), gold ......... o&r Debentures, 1884 . ........... . .. ) All eq'ly f .. o&r Debentures, 1889 . .............. ~ secured i .••. .r Debentures, g., s. f. not dr'n . . . b y mort. o*&r Refund.M.., $100,000,000, gold ) of 1897. C c&r N. Y. Ohicagod St.Louis-Common stock .... . ....... 2d »referred (5?,er cent, non-cumulati.ve) ........ 1st preferred ( per cent non-cumulative) ... ... . . 1st mortgage gold, sinking fund not drawn .. o*&r Equip. trust, A, aold, $60,000, Sept. 1, yearly. C. Equi~. tr. B, go! $23,000 due yrly F eb. 15,C.c&r N. r.~ reenw.L.-Prior lien .M.,gu. p.&i. byErle.gx c• N. Y. ti Harlem-Common, 1112 to 12 p . o., guar . .. Preferred stock, 1112 to 12 per cent, guar ........ Consolidated mortgage, cougon or reEO-stered . . o* Refunding mortgage, ~12,0 0,000, gold .. . Gc*&r N, .Y. Lackawanna ti Western-Stock, guar. 5 p. ct. lat mortgage, guar. by Delaware Lack. &West.c" 2d mortgage, !ri:ar. by Delaware Lack. & West.o* 3d M, Termina Imp. (for $5,000,000), gu. p. & i. . New York La~ Erie ti Wesurn-See E RIE RR. l l. -20 20 ii5o .... iffo 819 }~-:~ 523 523 523 505 ... . . .... 53 145 145 136 214 200 200 200 --.... isss is74 1896 is7s 1873 1853 1884 1889 1890 1897 .... ---iss1 1892 1896 1896 .... is72 1897 isso 1883 1890 100 $350,000 . ..... ... . A. & 0. N. Y., L. I. RR. Co. 100 650,000 5 1,000 1,726,000 5 g. A. & 0. N.Y., U.8 ..Mor t.&Tr.Co. 4 ,000,000 100 ...6.g. M. & N. London,.......... £100&,} 4,000,000 BaringBros. 1,000 1,000,000 419 ,i. M. & N. N.Y.,D. & H. Canal Co. 100 100,000,000 4in 1897 Q.-J. N. Y., Gr. Cent'l Stat'n. 1 ,000 30,000,000 7 J. & J. N. Y., Gr. Cent. Station. 1,000 9,733,333 6 g. J. & J. London, Un ion Bank. 500 &o. 6,450,000 4 g. .M. & N. N. Y., Gr. Cent. Station. l,OOO&o 10,000,000 5 M. & 8. do do 1,000&o 1,000,000 5 .M. & 8. do do 1,000&0 al3,194,000 4 f{. J. & D. do do l,OOO&o J. J. 319 g. & do do <fl 100 14,000,000 ...... -···· .......... 100 11,000,000 ..... . ....... 100 5.000,000 ..... . N. Y., Gr. Cent. Station. 1,000 19,425,000 g. .t..."·&··o. N. Y., Union Trust Oo. 300,000 .M.& s. N. Y., Central Trust Co. 1 ,000 F.&Al5 1 ,000 327,000 5 do do lOO&c 1,500,000 New York. 5 ~·7 M.&N. 50 8,646,050 12 in' See text N. Y., Gr. Cent. Station. 50 1,353,950 12 in '97 See text do <10 1,000&o 12,000,000 .M. & N. 7 do do 1,000&0 From May 1, 1900. 312 g . .M. & N. 100 10,000,000 Q.-J. N . Y., by Del. Lack.& W. 5 1 ,000 12,000,000 J. & J. do do 6 1,000 5,000,000 F. & A. do do 5 1,000 5,000,000 M.&N. do do 4 00 00 ----- i Oct: ;{if, .219%, Oct. 1, 1935 . -- ...... May 1, 1904 May 1, 1904 Jan.15,'98,1%, Jan. 1, 1903 Jan. 1, 1903 May 1, 1905 Sept. 1, 1904 Sept. 1, 1904 June 1, 190!'; July 1, 1997 ........ --···-· - 2, 189& .Moh. Oct. 1, 19a7 Yearly to 190 YQarlyto 1911 May 1, 1946 Jan. 3,'98,4;t Jan. 3,'98,4 .May 1, 1900 .May 1, 2000 Jan. '98, 114~ Jan. 1, 1921 Aug. 1, 1923 May 1, 1923 -a Reduced from $1 5,000,000 by sinl...-.ing fund. RR. has attached to the bonds its unconditional guaranty of principal 1-(*From profit on s ale Clea rfield Bit. Coal Co. bonds in 1895; reand interest in addition to the memorandum as to the lease previously ba te on taxes in 18!l4. President, Chauncey .M. Depew, New York .. printed upon them. V. 56, p. 812; V . 64, p. 234. -(V. 65, p. 27, 46,492, 511,516,523,977, 1221; V . 66, p . 83, 135. New York & Canada KK,-Owns :from Whitehall, N. Y ., to NewYorkChlcago&St.LoulsKK.-(SeeMapo/NewY01·kCen Rouse'& Point, N. Y., 113 miles; branches, 38 miles; tot al, 151 miles. tral ti Hudson River.J-Owns from Buffalo, N. Y., to Illinois State Line except 8 miles leased between Dunkirk and Silver Creek, leaving 494 LEASE. ETC.-Leased in perpetuity and virtually owned by the Dela· miles; leases the proprietary line, Chicago & State Line RR:1 Ill., State ware & H. Canal Co., which guarantees the bondP, and has $3,760,741 Line to Grand Crossing, 10 mlles; also Jeasf's Dunkirk to Silver Creek, Invested in the property, $1,000,000 having been funded in 1896 into 8 miles; total. 512 miles; trackage in Buffalo, N. Y., 119 miles, and the guaranteed g_o ld debentures. See copy of guaranty, V. 64, p. 181. Grand Crossing Chicago, Ill. (Lake Shore RR.), 9 miles. EARNINGS.-3 months, l 1897 .... .. .. Gross, $299,171; net, $120,576 HISTORY.-Known as the "Nickel Plate." Sold in foreclosure May July 1 to Sept. 30. 5 1896 .... . ... Gross, 284,331; net, 123,360 19, 1887, and present company formed in September, 1887. Charges for quarter, $90,629 in 1897; $89,294 in 1896. STOCK.-Lake Shore & .Michigan Southern owns $6,240,000 common Gross. Net. Ohat·ges. Batance• $6,275,000 2d preferred and $2,503,000 1st preferred stock. Year to 51896-7 .. . . . .. $937,8~2 $253,839 $280,703 def. $26,864 DIVIDENDS.-On l '91. '92. '93. ' 94. '95. '96. '97. June 30.? 1895-6.. .. . .. 915,965 274,612 274,130 sur. 482 1st pref. in March 5 312 p . o. 3 3 4 none. 5 p. o, none. -(V. 62, p. 320,949; V. 63, p. 355,880; V. 64, P• 181, 234.) BoNDs.-A sinking fund of $100,000 per year is provided when net New York flentral & Hudson River KR.-( See Map.J-The sys· earnings are $900,000 or upwards, if bonds can be bought at or below tern. clearly shown on the accompanying map, is made up as follows: 102; if not, the sinking fund lapses for that year, thus leaving $100,000 more f0r dividends. The original issue of bonds was $20,000,000, and Lines owned. .Miles. Mohawk & Malone.. ••• ·· -· · 1T 1 8 2 lt has been reduced to present amount by the sinking fund purchases. New York~ Buffalo . .. . . . ... 4 42 Carthage & Adirondll.ok.... 1T 4 6 Statement of road under mortgage in SUPPLEMENT of Sept., 1894. Se& Branches .... . .......... ... .. .. 378 Gouv erneur & Oswega~chie,r 13 abstract of mortgage.-V. 45, p. 541. Lines leased. ,r See this co. New York & Putnam . ...... ,r 61 LATEST E ARNINGS.-January 1 to Sept. 30, 9 months: West Shore . . . .............. . ir 495 Tivoli Hollow RR . . . . .. ..... 1 Troy & Greenbush ...... . .. ,r 6 9 mos.Gross. Net. 0th.i nc. Int.,taxes,tlc. Bal.,def. Spuyten Duyvil & P t . .M . .. ,r 6 Tatal in earns. 1896-97 . ... 2,395 1897 ........ $4,102,806 $826,794, $4,526 $914,658 df.$83,338New York & Harlem . ... . ... ,r 136 Opet"d, earns.keptsepat·ate. 1896 ...... 4,111,518 757,938 7,791 888,562 df.122,833 New Jersey Junction ....... 1T 5 Dunkirk A. V. & P ........... ,r 91 ANNUAL R EPORT.-Report for year 1896 was in V. 64, p. 886. The Rome Watertown & Og.. ... 1T 624 Beech Creek .......... .. .... ,r 157 road is used principally as a :freight line, the earnings :from freight 1n, The N. Y. Central Division has 287 miles laid with four tracks. 1896 amounting to $4,689,096 out of the total $5,587,766. Year end. Dec. 311896. 1895. 1894. 1893. HISTORY, &c.-This company was formed by a consolidation of the .Miles .. ..... 512 512 512 512 New York Central and the Hudson River railroads November 1, 1869, Gross operated earnings . ...... $5,587,766 $6,317,950 $5,629,239 $6,787,749 The leased liRes have been acquired at various dates since. Oper.expen. & taxes. 4,610,161 5,0e9,719 4,671,978 5,479,238 CAPITAL 8TOCK.-In.May, 1895, $4,571,700stookwaslisted on the ExNet earnings ..... . $977,605 $1,223,231 $957,261 $1,308,51() change, making total listed $100,000,000; V. 60, p. 874. Dividends $964,,251 $1,314,829 Net, inc. other income $987,248 $1,236,814 on stock registered in London are payable in gold at 4912d, to dollar. lnterest on bonds .... $777,000 $777,000 $777,000 $780,000 DIVIDENDS since 5 ' 85. '86·89. ' 90. '91. '92. '93. '94. '95. '96. ' 97. '98. Equip. trust charges. 112,972 89,00(), 83,000 86,000 1884. Per cent. ~ 319 4 yrly. 412 412 514 5 5 414 4 4 below Rentals ............. . . 94,190 95,507 91,924 92,227 In 1898, Jan. 1 J?er cent. From 1869 to 1884, both inclusive, 8 p . c. Sinking fund ...... . .. . 99,46() per annum was p aid. Div. on 1st pref*.... . (4) 200,000 250:000 BONDS.-See description or debentures OD page 3 of SUPPLEMENT of .April, 1895. They a re all secured by the refunding mortgage of Balance, surplus. $3,086 $31,306 $9,327 $54,142 1897 equaJly with the 312s. Said mortvaue is for $100,000,000, or * NOTE.-Dividends from earnings of year given are pai d in March which $70,377,333 reserved to retire exi sting bonds at or b efore m a - of following year. (V. 65, p. 278, 925.) turity and $14,622,667 for premiums; the remainder ($15,000,000) New York & Green-wood Lake Ky.-(SeeMapof ErieRR.Ja.re reserved for new construction after 1903. 'l'he mortg age covers Owns from Jersey City, N. J., to Greenwood Lake, 41 miles, and all the road , franchises, leases, equipment, etc. branches to Ringwood, etc., 8 miles; Watchung Ry., Forest Hill to OUAR.A.NTI.ES.-The company guarantees the securities of its leased Orange, N. J., 4 m.; total owned, 53 m. Stock, $100,000; par, $50. lines to a considerable agg-regate--see separate statement for each comLE.A.SE.-On.Mayl, 1896,wasleased to the Erie RR. for999years :from pany marked with a 1T in the table of mileage preceding. It also guar• Ma y 1, 1896, for interest on prior lien bonds, holders of old firsts agree• a.ntees Western Transit Co. 412s for $1,000.000 duA Febrnary, 1903. ing to conv ert their bonds into prior lien bonds at 50 per cent of face GENERAL FIN.ANCES.-In January, 1898, a contract w a s announced value and of old seconds at 10 p. o. of face value. In Sept., 1897, with J. P . .Morgan & Co. of New Yorli: and J. 8. Morgan & Co. of London $48,000 of the $1,500,000 prior liens were h eld to retire old incomes for the conver,;ion of $20,000,000 of the outstanding bonds (see table) y et unexchanged. Prior lien bonds are g-uaranteed, principal and in into new gold bonds per terms in V. 66, p. 83. The refunding will terest, by th~ Erie. See Eri~ report, V . 63, p. 513, form of guaranty save $1,200,000 per annum in interest charges. The :refunding of in v. 65, p. 463. Trustee of prior lien mortgageisN.Y. Security& Trust the Harlem consol. mortgage is held in• abeyance pending legal de· Co. of N. Y. (V. 65, p. 463.) cision regarding disposition of s aving-see V. 65, p. 46. New York & Harlem.KK,-Owns :fromNewYorkCitytoChat EARNINGS.-For 6 m onths endin g D ec. 3 1 (D.ec. , 1897,pa rtly est.): he.ro, N. Y., 136 miles. From Chatham to Albany, 24 miles, the Bos 6 m os.to Gross. B et. 1st chrges. D ividends. B at. , su r . ton dt Albany Railroad is used. Also owns the Fourth A venue St. RR Dec.31. $ $ $ $ $ LEASE.-The property (except the horse railroad) was leased April 1, ' 97 (est.) 24,214,000 8,252,000 5,238,000 (2%) 2,000,000 1,014,000 1873, for 401 years to the N. Y. Cent. & Hudson River RR. at 8 per cent ' 96 ...... 22,938,463 7,444,376 5 ,264,234 (2%) 2,000,000 180,142 dividends on the stock and the interest on the bonds. Refunding the ANNUAL REPORT.-Fisoal year ends June 30. Report for 1896·97 was consol. 7s into new gold 3¼ per cent bonds would allow a, saving in given at length in V. 65, p. 511, 523. See also editorial p. 492. Aver- interest charges of $420,000 per annum, but the matter is now in the age train,load1896-97 was 270 tons; rate per ton per m ile 68-100 cent. courts to determine the disposition under the lease of the saving in· interest ohar~es. Tl.J.e horse road was leased in July, 1896, to .MetroYears end. June 30. 1897. 1896. 1895. politan Traction Co. for 999 years at $350,000 yearly for 5 years and .Miles operated June 30.... 2,395 2,395 2,392 $4.00,000 thereafter. V. 62, p. 1088. Freight earnings ......... . . $25,850,731 $25,984,710 $24,268,710 DIVIDENDS.-The 8 per cent per annum guaranteed is paid semi-anPassenger earnm~s ........ 13,094,619 13,705,021 12,965,112 nually, Jan. 1 and July 1. In addition both stocks have received diviM:tscellaneous earnings.... 5,3&4,789 5,455,236 5,255,715 dends out of th~ earnings of the Fourth A venue horse railroad, annually in April, as followR '. From 1882 to 1889, inclusive, 2 per cent yearly; Total gross earnin~s ... $44,280,139 $45,144,967 $42,489,537 1890to 1893, 2-"a p . o., in 1894 to 1896, inclusive, 3 p. c., in 1897, Apr.,. Oper. exp., includ. taxes ... 29,648,146 30,455,570 28,810,443 2 p. c., Oct., 2 p . o., under lease to Metropolitan Traction above men---- ·· -· tioned annual r ental of the street lines is $350,000 (equal to 312 p. c. Net Income ........••• ... . $14,631,993 $14,689,397 $13,872,476 on stock) for five years from July 1, 189H, and thereafter $400,000. Payments-(V. 64,p. 755, 800, 953, 1001; V. 65, p. 27, 46.) Rentals paid ............... . $5,924,736 $5,967,609 $5,888,451 New York Laekaw-anna & Western Ky .-Binghamton to Buf Interest on debt........... . 4,126,490 4,153,776 4,169,245 falo and Internat'l Bridge and branches, 214 miles, of which the main Taxesonearn. andstook.... 228,900 224,219 198,983 Reserved for deb'tures..... 300,000 300,000 300,000 line, 213 miles, is double track; Delaware L. & W. has a lease for duraDividends . . .............. . . (4) 4,000,000 (4) 4,000,000 (419)4,339,991 tion oI charter from October, 1882, giving a guaranty of the bonds ancl 5 per cent yearly on the stock, bonds and stock being" endorsed. Balance fromopera1!'n .. .... $51,867 sur.$43, 793 def.$1 ,0 24,194 New York Lake Erle & Western KK,-SEE ERIE RR. Co. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,, .. . • ·.:--.~--- 1•~1·•·•:::~1111 :: _ : ii/£:. •.a. . . ·., https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~~ • ·1~¼: · . , . .~ ·!l • ~ -~ , • NEW YORK CENTRAL & HUDSON RIVER R. R. LAKE SHORE & MICHIGAN SOUTHERN R'Y NEW YORK, CHICAGO & ST LOUIS R. R. r~ MICHIGAN CENTRAL RAILROAD. v.a....,. I • .INVESTORS' SUPPLEMENT. 98 [VOL. LXVI. Subscribers wlll cont'er a great t'avor by giving Immediate notice ot' any error discovered In these Tables. RAILROADS. For explanation of column headings, &o., see notes on first page of tables. York New Haven cl Hariford-Btook. Bee text. 1st mortgage (for $5,000,000) .................... r lfete Bonds-Prinot INTEREST OR DIVIDENDS. Miles Date Bize,or Due. Amount Rate f.er When Where Payable, and by pal,When of of Par Outstanding Stocks-Last Road. Bonds Value. Oen . Payable Whom. Dividend. i23 --- Debentures, exohan~eable for stock 1903 ...... o* . --· D~ben., $10,000,000, currency, non•oonvert. o&r 50 N.Y. Prov. &B. lstM.,Prov. to Bton.(assumed).o* 12 1st M. (Stonington to New London) assumed.~* 62 Gen'l mort. for $4,000,000,J.old, assumed .. c&r 49 Shore Line 1st M., N. Hav. to . London, assumed BONDS OF PROPRIETARY, ETC., LINES: 51 Bos. &N.Y. A.irL. lstM.,N. H. toWilliman.,Ct.o* Colchester RR. 1st M ......•...................... • 3¼ 36 Danbury & Norwalk con. M. ($100,000 are 6s) .c* 36 Genl. M.,Danbury,Conn.,to Wilson Point, &c.o* 12 Harlem R.& Porto.lstM.guar. ($1,000,000 6s) .c&r 12 2dmort~age.guar. (Bee V. 56,p. 813) ...... c&r 74 HoUBatomo old consolidated mort~age ........... Danbury Branch bonds, eubjeot o call ......... New consol. mortgage (for $3,000,000) gold .. o* Housatonic roUing stock certificates ...•......••. Naugatuck lstM., Nau a. Juno. to Winsted, Ct.r ·55 New Haven & Derby 2 mort. (now 1st) ........ o* 13 Consol. mort for $800,000 ....•........•....... o* 13 Funded coupon certificates ...................... N. Hav.& North.1st M.,N. H.to ConwayJ.,Mass.c* ·92 Consol. sink. fd. $15,000peryear, notdra.wn.o* 114 Northern Extension bonds .................... c* 27 Deb'tures ext. in '96, non-conv.,V. 62, p. 548.o* .i.7 Holyoke & w., leased, mtges. ($200,000 gu.) .. o* New England adld Old Colony-See those cos. Pawtuxetv. 2dM. (1st M. owned byN.Y.N.H.&H 512 Providenc·e & Worcester 1st mortgage, currency 51 Nantasket Beach, 1st mortgage ... . .............. •• Y. Ont.cl W.-Gon.M.,nowlst,g.,red. at 105 in '99. c· Te·xt. ·so 8 $100 $47,636,500 Sin 1897 Q.-M. New Haven, Co. 's Office. ·--· 1883 1.000& 2,000,000 4 J. &. D. N. Y., Chem'al Nat. Bk. 1893 lOO&o. 16,397,200 4 A.. & o. N. Y., Lincoln Na.t. Bk. 3,000,000 1897 4 M.& S. New York. 1869 1,000,000 7 .J. & J. N. Y., Central Trust Co. 1881 1,000 300,000 4 A.. & 0. do do 1,000,000 4 g. A. & 0. 1892 1,000 do do 200,000 1880 l,OOO&c 412 M.& 8. N. H., Nat. N. H. Bank. i:ooo 1880 1,oob 1877 1880 100 1883 1,000 1873 1,000 1881 1880 500 &c. 1882 1887 1,000 1889 1883 1,000&c 1870 500 &o. 1,000 1888 1,000 1888 1,000 1869 1,000 1879 1,000 1881 1,000 1886 1,000 1870 i:ooo i:ooo 1880 1897 1880 1889 ....... 1,000 $·oi-·i New York New Haven & Hartcord KK.-Ownsfrom Wood· 500,000 25,000 500,000 150,000 2,000,000 1,000,000 100,000 61,000 2,839,000 200,000 150,000 225,000 575,000 480,000 1,300,000 1,200,000 700,000 700,000 260,000 5 7 5&6 5 6&7 4 4 5 5 g. 5 4 7 5 6 7 6 5 5 i& 6 60,000 1,500,000 250,000 5,600,000 6 4 212 5 g. I lawn, N. Y., to Springfield, Mass., 122 miles; branches to New Britain, Int. on fund. dbt. Middletown, New Canaan, etc.; 73 miles; New Haven to Providence, 111 miles, and branches, 20 miles; total oWll.ed, 326 miles, of which 50 miles has four tracks; leases, and for the most part practically owns, lines running to Winsted, Conn., Turner's Falls, Mass., Willimantic, Conn., etc., 471 miles; also leases Providence & Worcester, 48 miles; has trackage into New York, 12 m.tles, and other trackage, 10 miles; Old Colony (which see) 597 miles (since July 1, 1893); total 1896, 1,464 miles; also controls foperated seJ.>arately] New Englanrt RR., 559 miles. A new Station is being built m Boston; see Boston Terminal Co. in "Miscellaneous Cos." HISTORY.-A. consolidation in 1872 of the New York & New Haven and the New Haven & Hartford. ID years 1892 and 1893 acquired oontrol of several companies whose bonds are given in table above. See SUPPLEMENT of Sept., 1894. Bee also Old Colony. In October, 1895, a controlling interest in the stock of the New Eng• land RR. was acquired, but that road is operated independently. In 1895 acquired the entire stock of the Fall River SB. line and 18,233 out of 25,000 shares 01 the Providence & StoniDgton Line. Electric Railways.-In 1895 control was acquired of the Stamford St. Ry. and the Meriden Electric Ry. Electric railway between Hartford and New Britain, 10 miles, was opened in May, 1897. CAPITAL STOCK.-Stock authorized, $100,000,000. It may be issued for improvements, buying stocks and bonds of leased roads, &c.; $16,397,200 will be needed to take up the convertible debentures in 1903. (V. 56, p. 289, 373, 579.) On Oct. 1, 1895, additional stock for $9,500,000 was issued, being offered to stockholders at par. Pro• oeeds of this stock and of $3,247,200 additional debentures, ~12,750,· 000 cash in all, were used to complete improvements, four-tracking, etc. See V. 60, p. 1105; V. 61, p 559. DIVIDENDS.- t 1873-1893. 1894. 1895 to Dec., '97, (incl.) Per cent. ~ 10 yearly. 9 8 (2 per cent quar.) BONDS.-The convertible debentures of 1893 for $15,000,000 are exchangeable at option of holder "on April 1, 1903, or within 60 days thereafter and no longer," for company's stock at par. If not then exchanged they will be :paid in cash April 1, 1908. See V. 55, p. 1035. Amount of debentures listed on N. Y. Stock Exchange to Jan., 1898, $16,437,500. See description on page 4 SUPPLEMENT of April, 1895. Holyoke & Westfield bonds for $200,000 carry 4 p. c. and mature April 1, 1911; $60,000 carry 6 p. e. and mature April 1, 1898. Non•convertlble currency debentures for $10,000,000 were authorized in April, 1897. Under the lease New Haven road "assumed" the debt of Old Oolony. In February, 1897, $5,000,000 New England consol. 5s had been guaranteed, prin. and int. (stampedJ-see guaranty V. 64, p. 611. LEA.BED LINE STOCKS.-The stocks of the leased lines unexchanged on June 30, 1896, and the dividends payable thereon are shown below, the shares being all $100 each excepting Danbury & Norwalk, which are $50 each. The leases are for 99 years. Unex• Divid'd, Divid'd changed. per a,n. period. StocksTotal issue. Berkshire.............. _..•..... $600,000 6p. c. Q.-J. $599,000 B. & N. Y. Air Line pref ....... 2,998,500 1,404,000 4p.o. A. &O. do do common .. 864,231 864,231 Pays no divid'd. Danbury & Norwalk........... 600,000 153,600 5 p. o. J. & J. Rousatonic pref................ 2,875,800 152,600 1 p. c. July. .Naugatuck ..................... 2,000,000 1,027,800 lOp. c. J. & J . N. H. & Derby.................. 447,000 93,400 4 J. & J. N. H. & Northampton ........•. 2,460,000 4 A.&O. 56,500 Old Colony .............•...... 16,308,900 10,790,900 7 Pawtuxet Valley (par,$ (1)).. 100,900 100,900 7p. c. . &J. Stockbridge & Pittsfield....... 448,700 447,200 6 Q.-J. GENERAL FINANCES.-In April, 1897. the sale of a block of debenture 4s (out of $10,000,000 issue) and $='>.000,000 guaranteed New England 5s was authorized and October, 1897, "every note of the company had been paid."-see V. 65, p. 564; V. 64, p. 374, 664. EARNINGS.- July 1 to Sept. 30, 3 months ; '}.-J. 3 mos.- Gross. Net. 0th. inc. Int. taxes,d:c. Bat.for div 1897 ....... $8,348,150 $3,401,926 $31,192 $1,576,290 $1,856,828 1896. ...... 7,892,931 2,822,4~0 110,025 1,563,671 1,368,774 Quarterly dividends (2 p. c.), $952,000 each.-V. 65, p. 665. ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held third Wednesday in October. Reoort for 1896·97 was in V. 65, p. 665, and President's remarks on page 564. Figures include Old Colony. Yr. end. June 30. 1897. 1896. 1895. 1894. .Miles operated.. 1,447 1,447 1,447 1,447 Passengerearns.$15,967,864 $16,274,100 $15,298,056 $14,858,329 Freight earns . . . 13,340,213 13,772,071 12,309,954 10,423,547 Miscellaneous... 315,256 299,459 293, 725 295,008 Gross earnings .. $29,623,333 $30,345,630 $27,901,735 $25,576,884 Net earnings .... $9,580,077 $9,208,403 $8,837,708 $7,644,175 Otherincome.... 614,071 855,685 234,825 109,41!0 Tot.netincome$10,194,148 $10,064,089 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $9,072,533 $7,753,656 Other interest... Rentals.......... Taxes............ Dividends . ...... F. & A. J. & J. J . & J. A. & 0. A.. & 0. J. & D. A.. & 0. A.. & o. M.&N. J. & J. J. & D. F. & A.. M.&N. F. & A. J. & J. A.. & o. A. & O. J. & J. A.. & 0. A.. A.. A. J. Dec. 31,'97,2% June 1, 1903 See text. Mar. 1, 1947 Jan. 1, 1899 Aur. 1, 1901 Apr. 1, 1942 Moh. 1, 1910 N.Y.,LincolnNat. Bank Aug. 1, 1905 July 1, 1907 New Haven ,Conn. July 1, 1920 do A.pr. 1, 1925 do N. Y., Chem'al Nat. Bk. Oct. 1, 1903 do do June 1, 1911 New Haven, Conn. Apr. 1, 1910 do do Oct. 1, 1912 N. Y., Farm. L. & Tr. Co. Nov. 1, 1937 New Haven, Conn. Feb. 1, 1980 New Haven, ct., Treas. June 1, 1918 New Haven, Conn. Feb. 1. 1900 do do May 1, 1918 do do Feb. 1, 1900 N.Hav.,N. Tradesm'sBk Jan. 1, 1899 do do A.pr. 1, 1909 do do Apr. 1, 1911 do do July 1 1904 do do A.pr.•98&1911 & o. & 0. Prov.,R. I. HOl~p. & T.Co & 0. & D. N. Y. Office & London. 1897. $883,999 333,988 3,450,172 1,647,744 3,803,516 1896. $826,091 660,766 3,418,105 1,492,237 3,608,542 1895. $694,548 111,983 3,322,407 1,464,605 3,794.,290 Apr. Oct. Oct. June 1, 1, 1, 1, 1900 1947 1900 1989 1894. $464,039 126,504 3,379,975 1,409,460 3,631,293 Balance,surplus.sur.$74,729 sur.$58,348 def.$315,302 df.$1,257,615 President. Charles P. Clark, New Haven, Conn.-(V. 65, p. 572, GG5 925.) New York & Northern KK.-SEE NEW YORK & PUTNAM. Nevv York Ontario & Western Ky.-(See Map.J-Operates from Weehawken, opposite N. Y. City, to Oswego, on Lake Ontario: Road Owned-Miles. Road Oontrolted, <le. Mites. Oswego to Cornwall, N.Y...... 272 Pecksport Conn. (all owned).. 4 Branch to New Berlin........ _ 22 Ontario Carb, & S. (all owned.) do to Delhi ... . .....•.....• 17 Cadosia,N.Y., toScranton,Pa. 54 do to Ellenville . . . . • • . . . . 8 Rome & Clinton (leased) ...... ,r13 Utica Clinton & Bing. (leased). ,r31 Total owned .................. 319 Wharton Valley (leased)....... 7 Trackage (till 2079) W. Shore RR.: ,r See this Go. C'nwalltoW'h'ken(V.61,p.425) 53 Total operated July 1,1897 . .481 ORGA.NIZATION.-The New York & Oswe~o Midland was sold in foreclosure Nov.14, 1879, and this company organized. The N. Y. & On· tario Land Co. was formed in 1889 iii its interest and acquired about 855 acres of coal land on which $600,000 bonds were issued. STOCK.-Stock is $58,118,982, (par, $100), of which $5,000 is old pref• VOTING TRUST.-The preferred was originally $2,000,000, but all ex• cept $5,000 has been exchanged for bonds under act of June 8, 1885. The exchanged preferred stock is held alive under a voting trust and elects ei~ht of the thirteen directors uncter a provision of the "Articles of A.sso01ation,'' until a dividend shall have been earned and paid upon the common stock. The voting trustees elect directors in the interest of the common stock. See V. 61, p. 425, 426, and editorial, V. 65, p. 495. BONDS, ETC.-The mortgages cover 319 miles of road owned, and all securities of Ont. Carb. & Soran. Ry., 54 miles. are owned and pledged under the mort. For consolidated nwrtgage of 1889 se.e abstract V. 49, p. 238. The refunding mortgage secures $20,000,000 of 4 p. cts., of which $5,500,000 to retire $4,000,000 sixes (paid Sept. 1, '92), $7,000,000 to retire $5,600,000 consoL 5s, balance for improvements, &c. The mort. covers all the company's property, real and personal, acquired and to be acquired ; mortgage trustee is The Mercantile Trust Co. The 5 per cent bonds are redeemable in and after 1899 at 105 and accrued m• terest. There are $75,000 Wharton VaL guar. 5s, due 1918. CAR TRUSTS.-June 30, 1897, there were car trusts for $101,704 (including interest) part maturing monthly to April, 1R98, and part being 5 p. c. car trust notes to Guaranty Trust Co. of N. Y., payable quarterly to February, 1899; loans and bills payable were $250,000; loans and bills receivable were $1,030,167. EAllNINGS.-5 months, 11897 .... Gross, $1,869,839; net, $614,299 July 1 to Nov. 30. S1896..... Gross, 1,847,990; net, 623,976 ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting last Wednesday in September. Report ror 1896-97 was given at length in V. 65, p. 511, 520; see also editorial, p. 520. Ooat traffic in 1896-97 was 1,653,596 tons (out of 2,492,056 tons), against 1,673,861 tons in 1895-96, 1,715,991 tons in 1894·95, 1,642,063 tons in 1893-94, 1,352,225 tons in 1892·93 and 1,120,416 tons in 1891-92. Year endling June 30. 1897. 1896. 1895. Gross earnings ...... . ......... $3,894,403 $3,779,335 $3,669,113 Operat'g expenses and taxes. 2,780,497 2,698,558 2,642,412 I Balance, net earnings .... $1,113,906 Tot. netincome,incl. "other." $1,196,706 Interest on mortgage bonds.. 609,055 Miscell. interest and discount 4,478 Rentals paid . . . . . . . . . . . . . . . . . . 183,263 $1,080,777 $1,162,242 605,000 371 181,302 $1,026,701 $1,101,791 589,000 5,275 181,133 rlalance, surplus....... .. $399,910 $375,569 $326,383 President, Thomas P. Fowler·-(V 65, p. 511,520,621, 925.) New York & Ottawa KB.-Incorporated in July, 1897, and ac· quired the Northern New York RR., Tuppers Lake to Moira, N. Y., 56 miles. Under construction from Moira via Cornwall, Canada to Otta· wa, 72 miles, including a, bridge over the St. Lawrence. It is expected to have the entire line from Tuppers Lake to Ottawa, 128 miles in op· eration early in 1898. Connection is to be built from Tuppers Lake to North Creek on the Delaware & Hudson's road. Capital stock to be $3,000,000, and bonds are to be issued at $10,000 a mile. Chairman is George Foster Peabody. (V. 65, p . 152, 412, 572.) New York & Pennsylvania KK.-Oswayo, Pa., to Rexville, N. Y., 28 miles extension to Canisteo, 14 miles, completed in Novem• ber, 1896; total, 42 miles. From Canisteo will reach Hornellsville over Erie RR. Stock, $500,000 (par, $100). Year ending June 30, 1897, gToss, $28,821; net, $9,375; charges, $6,028; balance surplus for year $3,347. See V. 62,p. 1178. MAP OF THE NEW YORK, ONTARIO & WESTERN RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. 100 LVOL, LXV Subscribers will eonCer a great f'avor by giving ilnmedlate notice of any error discovered In these Tables. Bonds-.Pr1no1 INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Dne Amount Rate per When Where pW':ble, and by pal,When Par Outstanding of Stocks-La.st For explanation of column headings, &c., see notes of Value om. Cent. Payable Road. Bon.ds Dividend. on first page of table. --- - - - N. Y. Ontario <I; Western.-$ Concluded.)Refunding mortgage for 20,000,000, gold. .. c*&r Text. N. Y. <f Ottawa RR.-lst M., $3,500,000 .... Sx.c*&r 2d M. Incomes {cum. after July 1, 1900), g.,S.,r New York & Pennsylvania-1st M., $420,000 ....... N.Y. Phila. <f Norfot~latM.,$16,500p. m., gold.c· i12 Income mort., gold, non-oum., $10,000 per mile.r 112 57 N. Y. cf P·u tnam.-N. Y. & No. 1st mortgage, gold.c 57 p.&i. end .. c: N. Y. &P. lat ?on., $6,200,000, N. Y. cf .Rock. B h.-lst M., $1,00 ,0 0, gold, gu .. c ---· Income bonds, non-cumulative ................... r -··· N. Y. Sus~hanna cf West.-Pref.stock {See text) ... Midlan RR. of N. J, lstmo~age, fold . ····-··c• ·12 1 Paterson Extension RR. 1st ., rea estate, g .. c* N. Y. Sus. & W. 1st M., refda, \· (2d M on 73 m.) .c* 134 miles.o* 73 134 2d mort. ($1,000,000 gol ) d M. on General mortgage for $3,000,000, gold ........ o* 134 Collateral trust bonds, subject to call, cur ..... .... Termina~ 1st mort. for $2,000,000, gold...... c*&r ··-· Car trusts ........... ·-·· ......... .. ................. Wilkesb. & East'n, 1st M., gold,~· p. & i. (end.)c* .65 Busq. Connect. RR. 1st M. g.,re . at 105, guar c N. Y. Texas ct Mex.-lst. M.,g.,$ or £,~.by So.Pac.c· ·9i Norfolk cf Oarolin<r-lat M. for $1,5 0,000, gold.c* 110 2d mortgage, $500,000, gold ...... . .. . S. Ba., o• 102 Norfolk cf Southern-Capital stock .....•............ 104 1st mortgage, $10,000 per mile, gold . ........... c* 104 18 Norfolk Va. Beach~ So.-lst M.., gold, red. at 105. Norfolk& West. Ry.-Common stock, $66,000,000 -- ·· Adjustment pref. 4 p. c. non.cum. $24,500,000 .. ---· i·• ~· 1892 1897 18!17 1896 1883 1883 1887 1894 1887 1R87 isso 1881 1887 1887 1890 1895 1893 i892 1897 1882 1889 1896 isoi ·--· 1896 --·· - - -- 1,000&o $8,375,000 4 g. M.& S. N. Y. Offlc~. 56 Beaver. 1,000&c 4 g. M. &N. New York. 1,000 (1) 6 ..&.. J Hornerisviiie,N:Y.offlce J. 100,&c. 380,000 6 1,000 6 g. J. & J. Phila., Cassatt & Co. 1,848,000 J. & J. 1,000 1,000,000 6 5 g, A. & 0. 1,000 1,200,000 New York City. 1,000 4 g. A. & 0. N.Y., Gr. Cent. Station. 4,025,000 1,000 5 g. M.& S. N. Y., U. S. M. & Tr. Co. 984,000 1,000 1,000,000 Jan. 1 5 None&aid. 100 12,951,800 ...6.g. N.Y.,Of. 26 ortlandtst A:·&··o. 500&c. 3,500,000 do do 1,000 a 250,000 6 g. J. &D. do do 1,000 5 g. J. & J. 3,750,000 do do 1,000 &A. F. 453,000 4¼g. do do 1,000 2,547,000 do do : g. ]'. & A. 1,000 M.& N. 304,000 do do 1,000&c 2,000,000 5 g. M.&N. do do 24t,206 5 3,000,000 5 g. J. & D. do do l,000 6 g. M. & S. 475,000 New York Office. $&£ 1,457,500 4 g. A. & 0. N.Y .. 8.Pac.Co.:London. 1,000 1,320,000 5 g. A. & 0. N. Y .• Central Trust Co. 1,000 5 g. J. & J. Balt. SafeDep. &Tr. Co. 400,000 100 2,000,000 4in 1897 Q.-J. N. Y., Atlantic Tr. Co. 1,000 750,000 5 g. Mf&N. do do 500 &o. 500,000 5 g. M. & S. N. Y, Guaranty Tr. Co. 100 66,000,000 100 23,000,000 1 p. c. in ·,97 Y.' Oii.; ":iixch. Pl. June 1. 199 2 Nov. 1,1917 July 1,191 2 m . Jaii.:·1,·-i92 3 Oct. 1. 193 8 Oct. 1, 1927 Oct. 1, 199 3 Sept. 1, 1927 Sept. 1, 1927 Nov.27,189 3 Apr. 1, 191 0 June 1, 1910 Jan. 1, 1937 Feb. 1, 1937 Ang. 1, 1940 May 1, 1905 May 1, 1943 ----- i:ooo ------ No;;. IN. 40 June1;·i94 2 Mar. l, 1907 Apr. 1, 191 2 Apr. 1, 1939 Jan. 1, 194 6 Jan .l0,'98,10 May 1, 19 Sept. 1, 194 6 ¥¥ IN.vxs;,97.19( a $25,000 of these heU by sinkin g fund trus tee. New York Pennsylvania & Ohio KR.-See NYP.ANO RR. New York Philadelphia & Norfolk. KK.-Delmar, Del., to Cape Charles, Va., 95 m., and King's Creek, Md., to Crisfield, L7 miles. Bottomrymortgage $60,000. On June 30, 1896, there were matured interest coupons unpaid held by Penna. RR., $1,061,610, bills payable $138,618. Stock, $1,714,375; par, $100. EARNINGS.- S 1896 ... ................• gross, $945,833; net, $200,231 { 1895 .................... gross, 912,533; net, 201,914 Year. New York & Putnam KK.-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. HISTORY.-Successor to the N. Y. & Northern, sold under foreclosure of 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. BONDB.-The N. Y. Central guarantees $5,000,000 of new consol. mortgage bonds, of which $1,000,000 were reserved for improvements; also $1,200,000 to retire at maturity the tlrst 5s.-(V. 66, p. 83, 135.) New York & Rockaway Beach Ky.-( See Map Long Island RR.) -Owns from Glendale Junction oo Rockaway Park, with branch, 12 miles, of which 10·31 miles double track, mostly 80-lb. steel; leases, 1·93 miles; total. 13·93 miles; trackage to Long Island City, Brooklyn, Far Rockaway, etc., 18 miles. Stock authorized and outstanding, $1,000,000; par, $100. Controlled by Long [sland Railroad Company, whose endorsement is printed on tirst mortg-age bonds. For year ending June 30, 1897, gross, $216,897; n et, $42,885; interest, $49,· 200; bal. deficit, $6,815. In 1895-96, gross, $256,127: net, $64,961; other income, $2,700; interest on bonds, $49,200; balance, surplus, $18,461. In year 1894·95 gross, $231,860; deficit from oper• ating (large expenses for improvements being charged against earn• tngs), $6,833. (V. 61, p. 469, 1155; V 63, p. 651; V. 65, p. 618, 869.) "N"ew York Susquehanna & Western KK.-Op<>rates direct line from Wilkesbarre and the Wyoming Valley coal fields to Jersey -Oity opposite New Yo.rk City, with branches, a total of 227 miles: Lines owned in fee. Miles. Lines leased, etc. Miles. Jersey City to Gravel Pl., Pa .. 101 Middletown Un. & Water Gap,r 15 Wilkesbarre & Eastern[Double track 19 miles.] Wilkesbarre to Stroudsburg.. 65 Two bridges,N. J., to Unionville 21 Other branches................. 17 Susq. Connecting RR .•. • . ..• .• 8 Trackage, etc. . ... . . . . . . . • . . . . . . 9 Total road operated msee this co.) June 30, 1897 .....•.......... 236 HisTORY.-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 ownArship of stock, affords independent access to the anthracite .coal fields. The New York & Wilkesbarre Coal Co. was formed in its interest in 1893 to acquire coal lands and issued $450,000 of 6 per cent 1st mortgage bonds. The N. Y. S. & w. Coal Co. in Dec., 189·7 , had outstandin~ first 6s due 1912, M. & S., for $478,000 and 2d mtg. 5s for $495,000; the latrer bonds are pledged under the <ioll. trust of 1895. Susquehanna Connecting was organized in 1897 to build about 22 miles, and connect with W1lkesb. & East.Arn at Paddy'<l Land and has issued $500,000 of bonds guaranteed by N. Y. usq. & W.; $25,000 are redeemed at each interest period. {V. 65, p. 409 ) CONTROL PURCHA ED BY ERIE RR.-In January, 1898, a maJority <>f the stock had been purchased in t ile interest or the Erie RR. It is not intended to merge the property in the Erie, but to continue its <iperation as an indepen<1ent and additional outlet to New York. See V. 66, p. 83 and editorial p. 53. 8TOCK.-Authorized new preferred, $13,000,000; new common, $13,G00,000; outstanding, preferred, see table; common, $12,523,100. None DIVIDENDS.- l Nov., 1891, to 1893. since. 219 yearly. ()n pref., p. ct. S BoNDs.-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 4½!s. t:lee mortgage abstract, V. 52, p. 84. The 4:econds are exchangeable for generals on payment of $60 per bond. On N. Y. Stock Exchange $2,547,000 generals listed to Octooer, 1897. The terminal bonds listed in Sept., 1893, {U.S. Trust Co., trustee) are .an absolute first mortgage on the extensive terminal pro,\>erty obtained r1rom the Hudson River RR. & Terminal Co. and on all rmprovAments -to be made thereon. They thus cover 3 miles of road, of which about <>ne•third is a double•track tunnel unfor the Palisades, completed in :Ma;f, 1894 :see V. 58, p. 866), and 62 acres of terminal property on the Hudson, opposite 96th St.,N.Y.City. Seeabstractofmort. V.57,p.512. ~ e Wilkesbarre & Eastern 1st 5s (Guaranty Trust Co., formerly N. Y. <l. & I. Co., trustee) are unconditionally guaranteed.-V. 60, p. 481. The New Jersey Midland junior securities are excharurnable into -etock of this company on certain terms, and have mostly been so ~xchanged. There are also outstandin~ $70,000 Passaic & N. Y. RR. 6s, due 1910 (int. J & D), interest on which is guaranteed under 999-year tease. GENERAL FINANCEB.-In July, 1895, a oar trust for $366,308 was made to the RR. Equipment Co., payable $4,361 monthly for 7 years; eutstanding as in table. In 1895 the ten•ytiar collateral trust mortgage https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis for $500,000 was issued to pay off floating debt. Of these bonds • $116,000 had been retired by sinking fund to Dec. 31, 1897. EARNlNGS.-5 months, i 1897 ..... Gross, $1,027,089; net, $473,8 78 51896 ..... Gross. 1,035,808; net, 469,0 33 July 1 to Nov. 30. REPORT.-Report for 1896 ·97 in V. 65. p. 409,511, showed on 162 miles (i. e. exclL1ding the Wilkes bane & Eastern) : 1894-95. 1895-96. 1896·97. Fiscal year ends June 30. $1,753,353 $1,836,799 Gross earnings . .. .........•..... $1,819,2!'i3 586,847 806,942 768,566 Net earnings.................... 23,527 *56,083 44,44l Other income................... Total.... . . • . . . . . . . . . . . . . . . . • $813,007 665,777 Interest on bonds........... .... 28,706 Rentals.. . ....................... 50,774 Taxes........................ . ... 26,813 Miscellaneous . . . . . . . . . . • . . . . • •• $863,025 669,618 26,703 50,096 26,296 $610,374 $624,900 26,703 47,499 52,649 Balance ..........••..•..... sur.$40,937 sur.$90,312 dr.$141,376 ' NoTE.-Other income in 1895-96 includes $33,951 from interest on bonds owned, $15,085 sale or old material and $7,0 l8 from rents, etc. TeE SYSTEM.-Earnin~s for the whole system, 228 miles, were: In 1896-7 gross .......•. $2,248,8221 Net1ncome .............. $1,015,034 926,596 970,478 Fixed charges.......... Net . ................... :. 88,438 44,556 Balance, surplus........ Other income ........•. _ DlRECTORS.-In Sept., 1897, President Amos L. Hopkins, Simon Borg, H. O. Armour, Thos. A. M'lintyre, C. C. Cuyler, Henry Mar• quand. Henry Sanford, Roswell Eldridge, H.B. Plant, Gustav E. Kissel, G. W. Young, C. J. Lawrence, W. L. Bull.-(V. 66, p. 83.) New ~ork Texas & Mexican Ky.-(See Map of Southern Pacific.)-Owns from 1rnsenberg to Vlctor1a, Texas, 91 miles. Stock, $630,040, of which Soutaern Pacific Company owns $608,000. There are also $60,500 old sixes outstanding Operated by the Southern Pacific Co., which guarantees the 4 p. c. bonds. EARNINGS.-5 months, ? 1897 ......•• Gross, $180,496; net, $110,430 96,774 ( 1896 ... ...•. Gross, 163,944; net, July 1 to Nov. 30. lu year ending Dec. 31, 1896, ~ro!'ls, $298,997; net, $143,024. In 1895 gross, $235,192; net, $77,657; deficit under taxes and charges, $29,648. Due Southern Pacific Co. Jan. 1, 1896, $630,670. Norfolk & Carolina KK.-Owns from Norfolk, Va., to Tarboro, N. C., l0l miles; branches, 9 miles; trackage to Rocky Mount,17 miles. Opened April 1, 1890, and forms a part of the Atlantic Coast Line, which owned $997,!'i00 stock on June 1, 1897. Stock, $1,500,000; par, $100. Dividend : In 1896, 3 p. c.; in 1897, 6 p. c. V. 62, p. 186. In yAar ending June 30, 1 97, gro s, $55~,014; net, $191,525; other income, $1,656; intere. t charges, $~6,455; dividends, $90,000; bal., 1mrplus for year, $16,726. In 189:; 6, gross, $192.412; net, $174,932. In 1894·5, gross, $392,332; net, $117,242.-V. 62, p. 186. Norf'olk & Southern KK.-Owns Berkely, Va., to Edenton, N. C., 73 miles; {ferry aoross Albemarle Bound to Mackey's Ferry, 9 miles;) thence road to Belle Haven, 30 miles; total main line, 103 miles. HcsTORY.-Successor to Norfolk Bout},lern, foreclosed April 29, 1891. DrvIDENDB.-July, 1892, to Jan., 1898, incl., at 4 p. c. per annum. REPORT.-Fiscal year ends June 30. Earnings have been a follows: Gross. Net. Other Inc. Oha1·ges. Sur. for div. Miles. Miles. $90,505 $38,732 $2,694 $126,543 1896·7 .•••••.••. $457,918 95,404 40.9 5 5,181 131,208 1895-6 .......... 453,442 In each year paid dividend of $80,000.-V. 63, p. 600; V. 65, p. 866. Norfolk Vlrq;lnla Beach & Southern KK.-Norfolk to Virginia Beach, Va., 18 milee1, and to Princei,s .Anne Court House, 22 miles, making total 40 miles. Owns P1incess Anne Hotel and 1,300 acres ofland at Virginia Beach. A reorganization of the Norrolk Albemarle & Atlantic RR.. foreclosed in 1896. See V. 62, p. 909 allll 1178. Stock, $1,000,000. First mortgage is for $500,000; trustee, Gnuanty Trust Company, N. Y. In Jan., 1898, filed a mortgage for $750,000 of 50year gold 5s to be used in bulldiniz an extension from Kempsville south to Pungo, Va., 22 miles. Alfred Skitt, New York, President; J. Car• stensen, Secretary and Treasurer.-V. 63, p. 459. Norf'olk & Western Ky.-See Map.-Thi.s system consif1ts of the following lines clearly shown on the map, and extending 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. Norfolk, Va., to Columbus, 0 .. 710 Roanoke to Winston.......... 124 Radford, Va., to Bristol, Tenn.107 Sundry branches ..••••...•••... 131 Roanoke, Va., to Hagerstown.238 Graham to Norton ...•.......•. 100 • Tota.I of all June 30, 1897 .. 1,570 51 Nor. Car. June. to Iron Ridge. 45 Doubletrack............ .•.•.• Lynchburg to Durham,N. C.. 115 ORGANIZATION-This Railway company on Oct. 1, 1896, succeeded to the property and franchise of the Norfolk~ Western RR. sold in fore• closure under the 100-year and Maryland & Washington division mortgages and of the Lynchburg & Durham RI{, foreclosed under its fl.rat mortga~e. and subsequently also of the Roanoke & Southern foreclosed Nov. ~4. 1896, and merged in N. & W. The reorganization plan was in V. 62, p. 641. The old stock paid an assessment of $12 50 per share, the old common receivink 75 per cent and the old preferred 91111 C flllll k; ~ ~ .,!; 0 z f'. 0 i=q ~ -~ ~ 0 ~ z QI 0 f:l ~ "' 00. ~ ty 0 0 ~ ~ 00. ~ A ~ 0 ~ ~ ~ ~ C s: cs 0 H ~ .., 00 A ► ~ '\> OF THE & WESTERN AILWAY ,...., a5 ~ co .-4 ~~ ~ p z ,<lj ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CONNEOTIONS. INVESTORS' SUPPLEMENT. 10~ [VOL, LXVI. Subscribers "Will con1'er a great f'avor by giving l:ounediate notice of' any error discovered lo these Table• RAILROADS, For explanation of column headings, &o., see notes on first page of tables. Bonds-Princi INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Payable, anti by pal,When Due. Par of of Stocks-Last Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. --- ··-- · - - Nor olk & W este1-n By.-(Conclitded81 Norf'k&Petersb'g-2dM. (nowlst) Nor.toPet'g.c South Side-Consol. mort. 1st pref., extended .. o 133 Consol. M. 2d ¥,ref., gold, extended ............ o 133 Consol. 3d pre ., Petersburg to LJ11oh. & br's .. o 133 do do old 6s, extende l 896 & 1897. 133 do do old 6s, ext. in gold in 1898 .... 133 Virgmia & Tenn. Pref. stock, lien on 214 miles ... 214 Enlarged M. (extend in.1884) ....... .. .......... o 214 4th M., now 2d, Lynohb'iktoBristol and br'ch .. o 214 Norf.&West.Gen.M .. Norfo to Bristol.etc. gold.o* 428 New River division 1st mortgage, gold....... o* 160 Improvement & Extension Mortitge, gold ... o* 588 Scioto Valley & New England, 1st .,assum.,g.o* 129 First consolidated mortgage securing: (Prior Lie nbond Prior lien bonds, $3,500,000, ~old, red. at 105. 1,570 First consols, $62,500,000, go d ..... .. •.... c*&r 1,570 Col. Con. & Term. 1st M., gold. gu. p. & i. (end.)o* Equip. trust of 1893, gold, not subject to call .. o* Equin. trusts. guar. by RR. Equipm't Co .. g ..... o --·· North Oar.-Stook, 612% till Deo.31, 1901-then 7% 223 NorthPQ,C1,jlc Ooast-lst M., gold, sub. to call atlOO.c 76 91 General M. for $1,500,000, gold ................. o 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 ......•................ o&r 86 Consol. bonds secured by $1,200,000 stock..... . r ..... Real estate mortgages, June 30, 1896 ............ -··· 1868 $1,000 1,000 1868 1868 100 &o. 1868 100 &o. 1,000 1868 1,00() 1868 i854 i:ooo 1866 1,000 1,000 1881 1,000 1882 1,000 1883 1,000 1889 A to be issued 1896 1896 500··&0. 1892 500 1,000 1893 1,000 1892 100 issi 1,000 1,000 1892 50 i866 500 &o. 1873 1881 ..... -----· -----.. ..... Norfolk&; Western Railway (Concluded).11212 per cent in new common stock. The new preferred was issued to old bondholders. The Norfolk & Western RR. was a reorganization in 1881 after foreclosure sale of tae Atlantic Mississippi & Ohio, which in turn waR a consolidation of Norfolk & Petersburg, South Side aud Va. & Tenn. roads. STOCK.-Provisions of preferred stock certificates were given in SUPPLEMENT of April, 1897, page 4, said stock being 4 p. c. non-cumulative, with preference as to assets and dividends, and with right during the first five, ears 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. Dividends-On adjustment preferred: 1st div. Nov., 1897, 1 p. o. (V. 65, p. 729. BONDS.-The new bonds authorized are: P rior Lien 50-year gold bonds, only if necessary ............ $3,500,000 First Oonsol. M. Gold 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 are (subject to the small amount of Prior Lien bonds which may be issued only in case of urgency) a tirst 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 Works; besides being a consolidated mortgage upon the remainder of the srstem, subject to the undisturbed li en s . They are further secured by the equipment, certified to have cost over $11,000,000, covered by the Car Trusts and equipment bonds to be takeu up under the plan. The Prior Lien bonds if issued will be retired at 105 by sale whenever possible of first consols at or above 95. Undisturbed bonds which cannot be taken up at maturity on satisfactory terms by use of the consols reserved for that purpose may be extended or renewed. See abstract of consol. mortgage in V. li4, p. 376. As to Scioto Valley & New England mortgage see SUPPLEMENT of January, 1894. Clinch Valley bonds and N. & W. adjustment bonds outstanding were paid June 1, 1897. V. 64, p. 287, 1089. GENERAL FINANCES.-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 oar trusts except those of 1892 aod 1893. The annual charges ahead of the new common stock are smaller than those ahead of the old preferred stock. Of the company's traffic in 1895 55 per cent 13,578,586 tons) was bituminous coal and coke. South Side consol. 6 for $-100,000 due Jan. 1, 1898, were extended in gold to July l, 1900, at 412 p. c. EARNINGS-5 months, 51897 ...... Gross, $4,793,133; net, $1,538,217 July 1 to Nov. 30. ?.1896 ...... Gross, 4,433,602; net, 950,611 ANNUAL REPORT.-Fiscal year ends June 30. Annual meetin~ iR held at Roanoke, Va., on second Thursday in October. First report of new company (for 1896-97) was given at length in V. 65, p. 628. See also editorial, p. 602. 9 mos. enaNet. 0th. inc. Chnrges. Bal., surp . ino .1une 30- Gross. 1896-97 ...... $7,732,159 $2,104;124 $16,182 $1,660,458 $459,848 1895-96...... 8,258,388 1,694,910 Yea1·s end. Dec. 311896. 1895. 1894. 1893. A verage miles operated. 1,570. 1,570 1,570 1,556 $ $ $ $ Passenger earnings.... 11 055 845 {1,497,977 1,522,134 1,721,194 Freight earnings...... (Dec est) 7,696,384 8,352,750 7,873,773 Mail, express, &o.. ..•. · · 467,726 465,568 437,651 5 - - - - ----- - - - - - - - - - - rotalgrossearnings ... 11,05!'>,845 9,662,08710,340,452 10,032,618 .Net over taxes.......... 2,324.934 2,138,4!51 2,646,547 2,833,158 Other income............ 5,867 36,239 135,585 141,188 Bal. for int. & rentals. 2,330,801 2,174,690 2,782,132 2,074,346 OFFICERS.-President. Henry Fink; Chairman of the Board of Directors, F. J. Kimball, 27 William Street. New York; Secretary, A. J. Hemphill, New York; Treasurer, W. G. Macdowell, Roanoke, Va. lNDEX.-V. 65, p. 602,617,628,729, 1115. North Carolina RR,-Owns from Goldsboro to Charlotte, No. Carolina, 223 miles. Leased from Jan. 1, 1896, to theSouthern Ry. Co. for 99 vearR at $266,000 (619 p. o. on stock) per year till Dec. 31, 1901. and $286,000 (equal to 7 p. o. on stock) balance of lease; also taxes V. 63, p. 361. Of the stock the State of North Carolina holds $3,000. 000. Th~ Southern Ry. has set aside $4,000,000 of its new consols to be used, if desired, to acquire a like amount of North Carolina stock. Dividends, 1896, 612 p. o.; in 1897, Feb., 312 p. o. was paid, and 3 p. o. has been declared payable in August. In March, 1897, the Governor of North Carolina appointed a new board of directors. V. 64, p. 611. Injunction restraining State of North Carolina from interfering with Southern Ry. lease was obtained in 1897 __ (V. 65 , p. 27 .) North PacUlc Coast RR. (Narrow- Gange)-Owns San Fran- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $4'96,000 5 J. & J. N. Y., Meroant. Tr. Co. 290,000 5&6 J. & J. do do 270,500 5g.&6g. J. & J. do do 152,800 6 J. & J. do do 200,000 5 J. & J. do do 100,000 412g,J. & J. do do 10,900 6 g. do do ---·980,000 5 J. & J. do do 1,000,000 J . & J. 8 do do 7,283,000 6 g. M.&N. do do 6 g. A. & 0. 2,000,000 do do 5,000,000 6 g. F. &A. See text. 5,000.000 4 g. M.&N. N. Y., Meroant. Tr. Co. only if neces sary). None. 4 g. New York. 4 g. A:·&·o. N.Y. Mercantile Tr. Co. A23,199,400 600,000 5 g. J. & J. N. Y., Atlantic Trust Co. 233.000 5 g. Q.-J. -.. 231,000 5 g. <.l.-J. ............ 4,000,000 Burlington, N. C. 612-7 F.&A..Io 590,000 6 g. M.&N. San .Fran., Co.'s Office. 908,000 5 g. J. & J. do do 4,720,750 Q.-F. Phila. Of., 240 So. 3d St. 8 1,500,000 M.&N. 4 do do 4,500,000 J. & J. 7 do do 1,200,000 M.& S. do do 6 280,257 . .... ....... . ............ ........ July I, 1900 July 1, 1900 July 1, 1900 Jan. '99·1900 July 1, 1900 July 1, 1900 June·ao,·i900 Moh. 1, 1900 May 1, 1931 Apr. 1, 1932 Feb. 1, 1934 Nov. 1, 1989 1946 Oct. 1, 1996 Jan. 1, 1922 Ap.'98·Jan.'03 Ap.'98-0ot.'02 Feb., '98, 3% Nov. 1, 1901 Jan. 1, 1912 Nov.24,'97,'2% May 1, 1936 Jan. 1, 19Q3 Sept. 1. 190 5 .......... oisoo to Cazadero, 87 miles; branches to San Rafael and Mill Valley, 4 miles; leases to San Quentin, 3 miles; total operated, 94 miles, including ferry to San Francisco, 6 miles; also has ferry to San Quentin. 11 miles. Stock authorized. $3,000,000; issued, $1,500,000; par, $100. For year ending June 30, 1897, gross, $348,130; net, $118,904; interest, $30,800; taxes, $12,607; balance, surplus for year, $25,497. In 1895-6 gross, $353,365; net, $86,291.-V. 63, p. 400. ~orth Pennsylvania RR.-Owns from Philadelphia, Pa., to BetbtAhem, Pa., 56 miles; branches to Delaware River, &o., 30 miles;. second track, 5419 miles; total track, 217 ntjles. Ground rents July 1, 1896, $177,871. Leased for 990 years from May 1, 1879, to Phila. & Reading RR. at 8 per cent on stock, and lease assumed in 1896 by Phila. & Reading Railway. (V. 62, p. 462, 870.) · North-East Pennsylvania RR.-Owns road from Glenside to New Hope, Pa., 26 miles. Controlled by P. & R. Capital stock,. $400,000, of which $315,000 owned by Readmg Co. is deposited under its general mortgage of 1897; par, $50. Northeastern RR. of' Geor.o-la.-Road from Athens to Lula Ga., 39 miles. Opened in 1876. solo in April, 1895, and purchased by the State, which leased it in May, 1896, to E. A. Richard & Co. for $18,600 yearly, but road was turned over to State again May 7, 1897, rental being in default. t:1tate ageut is Rufus Reaves. V. 64, p. 954. Governor has been authorized to sell the road for $287,000. EARNINGS.-4 months, 51897 ............. Gross, $24,208; net, $8,43S July 1 to Oct. 31. (. 1896 ............. Gro s, 23,123; net, 11,411 Year ending June 30, 1897, gross, $64,988; net, $21,326. In 1895-96, gross, $58,591; net, $17,174.-V. 64, p.1001, 1225; v ..65, p. 1174. N orth•Easter~ RR. (S. C.)~Owns from Charleston, s. C., to Florence, S. C., 102 miles; leases Jomtly, Lane, S. C., to Sumter, S. C., 40 miles; total operated, 142 miles. Of consolidated mort. $1,142,000 was held to retire debts of prior lien. In 1895 Charle1>ton & Northern 4 per cent bonds for $236,000 were guaranteed principal and interest. V. 61, p. 1105. Stock, $900,000; par, $50; Atlantic Coast Line Co. owned $840,950 stock on June 1, 1897. Dividends from 1888 to Jan .• 1895, 6 .P, o. yearly; in July, 1895, none; in 1896, July, 3 p. o.; in 1897, 6 p. c.; m 1898, Jan., 3 p. c. ANNUAL REPORT.-Earnin~s for year ending June 30 have been: 12 months. Gross. Net. Other inc. Int., etc. Bal.for div. 1896-97 ..... $532,528 $162,310 $33,957 $137,440 $58,827 1895-96 ..... 530,760 164,413 36,163 135,220 65,356 1894-95 . .... 525,401 107.606 30,617 133,000 5,223 Dividends for 1896·7 were $54,000, leaving bal. surplus of $4,827 foryear. -(V. 64, p. 887; V. 65, p. l t '70.) Northern Alabama Ry,-ROAD-Sheffi.Ald to Parrish, Ala., and branch, 119 miles. A reorganization of the Birmingham Sheffield &. Tennessee River Ry., sold in foreclosure Sept. 16, 1895. STOCK$2,000,000; _par $100. MORTGAGE trustee is Knickerbocker Trust Co.;. the bonds untssued may be sold at not exceeding $15,000 per mile for extensions. EARNINGS-In year ending June 30, 1896, gross, $102,178;. net, $16,830. Cn 1894·95 gross, $120,205; net, $12,602. Fiscal agents. J. Kennedy Tod & Co., 45 Wall Street, New York.-(V. 56, p. 1014; v. 61, p. 26, 111, 516, 829.) Northern (New- Hampshire) RR.-Owns Concord, N. H., to West Lebanon, N. H., 70 miles; branch to Bristol, 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 (makin11: the quarterly dividends 112 p. c. 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. o. extra; in 1897, April, 2 p. o. extra ;: in July, 3 p. o. extra. Contingent fund April 30, 1896, amounted to, $176,887. Rental from B. & M. year ending April 30, 1896, $153,420•. -V. 65, p. 463. Northern California Ry.-Owns Knight's Landing to Oroville,. Cal., 54 miles. Leased to Southern Pacific Co., which owns $1,277,500 of the $1,280,000 stock; par, $100. This is not the Northern Railway or Ol.lifornia-see that company. In 1896 gross, $177,992; net, $ .. 4,418; interest, $53,700; balance, surplus for year, $20,718. In 1895gross, $140,935; net, $30,869. Deficit under taxes and charges._ $34,087, payable by Southern Paoi:flo Co. Northern Central Ry.-Owns Baltimore, Md., to Sunbury, Pa., 139 miles, of which 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 Railroad, 100 miles; Lykens Valley Railroad, 20 miles; Pennsylvani · Railroad, 3 miles; total operated, 377 miles. A.lso uses New York Lake Erie & Western tracks, 7 miles, and Philadelphia & Erle tracks between Sunbury and Lewisport, 40 m., and owns Union RR., 9 miles, @RGANIZATION.-This was a consolidation of several roads in 1854. Controlled by the Pennsylvania RR., which owns $3,488,950 sti\13k. SECURITIES OWNED-On Jan. 1, 1897, among the assets held wer& Balt. & Potomac stock (par) of $704,450; Elmira & Lake Ontario stock · 1all) ' $1 ' 500 ' ooo i Shamo kin v a lley & p O ttRvilles to Ok , $619 , 650 ; u ruon RR. stock. $1.225.000 (the balance of $875,000 bein~ held by PhilaWllm. & Balto.), etc. Value of all, as per books, $2,970,829. The in-come from investments in 1896 was $324,384. RAlLROAl) STOCKS .A.ND BONDS. 103 Subscribers flTill cower a great favor by giving iID.ID.ediate notice of' any error discovered In these Tables. Bonds-Pnnoi RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Amount Rate per When Where Payable, and by pal,When Due. F or explanation of column headings, &c., see notes of of Par Outstanding Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. - - ---- - - - 26 o. East P enn.-lst M., ~-, ~.P.& R. old co. (end.)c• orth-Eastern (S. 0.)-S oc ···-··---····-···· - -· · ··· ....... 1st mortgage, provided for by consol. mortgage.c 102 2d mortgage, provided for by consol. mortgage.o 102 Consol. mortgage, (for $1,836,000) gold .... . .... o 102 Charleston &Northern 1st mort., guar., p. & i. .. .... . or(h'n Alabam a Ry.-lst M., $3,000,000, gold .. o 107 orthern, (N. B.J-Stock, 6 p. o. renta1-_ .......... . . 83 orthern 0atifornia-lst mort age, gold........... 54 orthern 0entral-Stock ($8,00 ,000 authorized) . 1st mortgage, State of Maryland loan . ........... iss 2d mortgage .......................... -··-·· ...... o* 138 Consol. M., gold; coup., int. J & J; reg., A & O.c&r 138 Consol. gen. mort. { gold, s.f drn. at 100, A&B.c 138 of1874,gold,se- gold,$, 0 &D·--··--········c 138 cures all equally. gold, E ·-···· ................ o 138 2d gen. mort., series "A" & "B" (A $2,565,000) .. 138 Union RR., 2dm. (nowlst) assumed$ or£, gold.c 9 orthern of New Jersey-Btock ..... ·-··············· 21 3d mortgage, now 1st (for $700,000) ............ o Nyack & Northern 1st mortgage, rental guar .. ... 4·37 or.Ohio-lstM.g.($l5,000p.m.)gu.p.&i.L.E.&W.c"' 167 0'1'the1-n Pacific Ry. -Com. stock, $80,000,000 .. ...... Pref. stock, $75,000,000, non-cum. 4 p. ct ....... No. Pac. RR., gen. 1st M., g., couK, dr. at 110.o* 2,i46 Reg ., dr. at 110 a fter coup. bon s ret:ixed ...... 2,146 Western RR. Minn. 1st M., gold, assumed ........ 601.g St. Paul & N. P. Gen. M., l'd iant, assumed.o*&r 182 New mortgai,res of Northern acific Ry.Prior lien M. $130,000,000 gold, land gr... c*&r See t Gen. lien M. $190,000,000, g.,land grant ... c*.i:or See t 3 1890 $1,000 50 isi;g 500 1869 500 1883 1,000 1895 1896 i:ooo 100 issg 1,000 50 i855 1865 5oo·&c. 1868 1,000 1874-5 $&£ 1876-7 $1,000 1,000 1885 76&82 1,000 1873 1,000 100 iss7 100 &o. ........... 1880 1895 1,000 . ..... 100 100 issi 1,000 1881 5,000&c 1877 1,000 1,000 1883 --- $400,000 900,000 820,000 322,000 694,000 236,000 1,700,000 3,068,400 1,074,000 7,518,150 1,500,000 1,126,000 2,804,000 1,224,000 2,000,000 1,557,000 3,565,000 600,000 1,000,000 654,000 150,000 2,500,000 79,800,000 71,000,000 X 1,863.000 X 9,642,000 420,000 8,003,000 1896 500 &c. 81,620,500 1896 500 &c. 56,000,000 5 g. A. & 0. Phila., Phila. & Read'g. Apr. 1, 1920 Charleston, Office. J a n. 1, '98, 3% do do Sept. 1, 1899 do do Sept. 1, 1899 6 g. J. & J. N. Y., Cuyler, M. & Co. Jan. 1, 1933 4 M. & S. . .............. Mch. 1, 1915 5 g. J. & J. New York, Ag:ency. Jan. 1, 1926 See text. Q.-J. Boston, 19 Milk .it. Jan.3'::,8,112% 5 g. J. & D. N. Y.,So.Pac.,:t3Broad June 1, 1929 7 for '97 J. & J. Balt. & Phila.; Pa. RR. Jan.15,'98,4% 6 Q.-J. Annapolis. Irredeemable. 6 A. & 0. Baltimore&Phlladelp'a Apr. 1, 1900 6 g. Various Baltimore, Treas. Office. July 1, 1900 6 g. J. & J. London and Baltimore. July 1, 1904 6 g. J. & J . Baltimore, Treas. Office. July 1, 1904 41.gg. A. & 0. do do Apr. 1, 19~5 5 J. & J. Baltimore,Treas. Office. Jan. 1, 1926 6 g. M. & N. London & Balt. May 1, 1900 's in '971J. & J. N. Y., 199 Chambers St. Jan.15 '97,12% 6 J. & J. N. Y , U. S. Mort. & Tr. July 1. 1917 6 J. & J. do do 1900 51{ A. & 0. New York. Oct. 1, 1945 To be e ld in voting trust until Nov. 1, 1901. 4 Qu a r'ly. New York. Jan.15,'98, 1% 6 g. J. & J.N.Y.,J.P.Morgan&Co. Jan 1, 1921 6 g. J. & J. do do Jan. 1, 1921 7 M.3%&N4 do do May 1, 1907 6 g. ,, do do Feb. 1, 1923 6 in 1897 J. & J. 8 M. & 8. 8 M. & 8. 4 g. 3 g. Q.-J. N.Y. ,J.P.Morgan&Rert Jan. 1, 1997 Q.·-.b"'. do do t Jan. 1, 2047 x Exclusive of $29,227,000 held by trustee of the prior lien M. of 1896 on J an. 20, 1898 . i Berlin at 4·20 marks p er dollar. 'If Coupon bonds F. & A. reg. bonds Q.-F. t 4,519 miles, inoluding 29 miles not operated; spurs, 123 miles; trackage, lines lg owned, etc., 41 miles. LIABILITIES.-Jointly with the Penn. RR. and Phila. & Erie this company guarantees the Allegheny Valley 5 per cent loan of 1870. Mortgages and ground rents on January 1, 1896, were $349,182. l!>IVIDENDS.-11888. '8 9. ' 90. '91. '92. '93. '94 to '97. '98. Per cen t . .. 5 7 8 8 7 7 9 7 J a n., 4 p . c EARNINGS.-11 months, 11897 .... Gross, $6,146,263; net, $1,902,638 Jan. 1 to Nov. 30. S 1896.... Gross, 5,766,482; net, 1,518,207 ANNUAL REPORT.-Fiscal year ends Dec. 31. President's report for 1896, given at length in V. 64,p. 371. 375, showed the following: Year end. Dec. 311896. 1895. 1894. 1893. <lross earnings .. _..... $6,286,602 $6,506,028 $6,031,260 $6,881,806 Netearnings ..... ·-··· 1,643,496 1,907,509 1,797,144 2,118,650 Other receipts......... 400,075 457,391 386,335 496,979 Total net income.·-· $2,043,571 $2,364,900 $2,183,479 $2,615,629 Rentals, &o ...... _..... 436,592 455,996 485,759 500,253 Interest on debt....... 843,632 852,588 850,921 859,561 Dividends ......•.... _. (7) 526,267 (7) 526,267 (7) 526,267 (8) 601,446 Miscellaneous......... 159,490 378,l 91 210,840 94,174 Balance, surplus .. _. $77,590 $151,858 $109,692 $560,195 -(V. 64, p. 330,371,374, 375.) Northern KR. of Ne-w- .Tersey.-Owns from Bergen, N. ;J., to BparkilJ, N. Y., 21 miles; leases Sparkill to Nyack, 5 miles. In July, 1897, control was pm·chased by the Erie RR. which has been opera ting "the road for 6818 per cent of its gross earnings. The road will still be ,operated separatf'ly. V. 65, p. 151. Stock, $1,000,000; par, $100. DIVIDENDS since 1892 : In 1893, 414 p. c. ; in 1894, 414 p. c.; in 1895, 4¼; in 1896, 4; in 1897, Jan.,¼ p. c.; July, none. ANNUAL REPORT.-For fiscal years ending June 30: Year. Rental. Net. Int.,taxe1J. Bal., sur. Dividends. (4 ) $40,000 1895-6 ...... $11~,241 $98,059 $56,079 $41,980 (412) 45,000 1894-5.. .. . . 138,532 106,764 55,352 51,412 -(V. 63, p. 837; v. 65, p. 69, 111.) Northern Ohio Hall-w-ay.-(See Map Lake Erie & Weste1-n.J•Owns road from Akron to Delphos, 0., 165 miles; branches, 2 miles. ..A. reorganization of Pittsburg Akron & Western sold in foreclosure <>ot. 17, 1894. Road is leased in perpetuity to L. E. & W. V. 62, p . 826. STOCK AND BONDS.-Common stock (all owned by L. E. & W.) $3,580,000; preferred non-cumulative 5 p. c. stock, $650.000; par of each -$100. The first mortgage is for $4,000,000 and bonds are guaranteed, principal and interest, by Lake Erie & Western by endorsement on -ea.oh bond. Bonds for $1,500,000 "are only to be issued at not to exceed $15,000 per mile of completed road for such hereafter constructed ,or purchased road, if any." For year ending June 30, 1896, gross t,arninp;s were $149,469; net, $8,552; charges, $97,547; deficit, -$88,995. Annual interest charge now $125,000. In 1896 L. E. & W. .advancod $125,000 to pay interest guaranteed-see L. E. & W. report, V. 64, p. 1221.-V. 62, p. 186. Northern Pacific Hallway.-(See .Maps.J-Operates one of the ,leading lines to the Pacific, having its eastern termini at Bt. Paul, Minn., and Duluth Wis. (the head of Lake navigation), anr1 run• 'lling thence we~terJy, traversing the great wheat belt of Minnesota :and North Dakota, the mining district of Montana, and the farming ,country of Washington to Tacoma and Seattle, and to Portland, Ore,gon, with branches to Winnipeg, etc. The system comprises: Main li~e. Mites. Branches, etc. Mites. Ashland, Wis., to Portland, Various br. (V. 63, p.1013) ... 2,028 Ore.,and Wallula Junction.2, 1 f'>7 Brainerd to !t. Paul, etc. . . 190 Main line operated . ....... .4,375 Owned (but not operated)... 22 Total main line . ............ 2,347 Spurs, main and branches... 1 ::!6 ·Trackage included............ z.s Total system June 30, 1897. .4,523 Also has 20·95 miles of terminals and 164 miles of water linea. HISTORY.-This Wisconsin company on Sept. I, 1896. succeeded to the .railroads, land grant and other property of the Northern Pacific RR.. which was sold in foreclosure in July, 1896, under the second. third and oonsolidaterl mortga.11:es, and was reorganiied with the co-operation of J. p. Morgan & co., the Deutsche Bank and Drexel & co. per plan in the CHRONIULE of March 21, 1896, p. 550. In the reor~anization the $49,000,000 olrl common stock paying assessment of lo per cent received 100 per cent of new common. The $35,000,000 old preferred vaying assessment of 10 per cent received 50 per cent in new common and the same of new preferred. As to the company's charter, see V. 63, p. 1071. The St. Paul & ceivers Sept. 25, 1893, and permanently abandoned in the reorganiza tion of 1896. V. 64, p. 1224. Beside the Chicago Jines, the only parts of the sy~tem not included in the reor~anization are the Seattle Lake Shor e & Eastern and the Uentral Washrngton-see these companies. VorrNG .r&us l'.-Bot11 classes of stock (except sufficient to q11alify directors) are vested until Nov. 1, 1901 (unless surrendered .-arlier their discretion) in following voting trustees: J. Pierpont Morgan, August Belmont. Johnston Livingston, Charle<\ Lanier. all of New York, and Georg- Siemens of Berlin. Provisions of voting trust and of pref erred stock were in SUPPLEMENT of April, J 897, p age 4. STOCK.-The new preferred stock is subj,ect to call in whole or in part; at par, upon any first day of January prior to 1917. Additional preferred stock and other mortga~es can be issued only with consent of a majority of the prererred anu of the common stock represented a t a special mee ting. Pref. stock is" entitled to non-cum. dividends to the extent of 4 per cent per annum, payable quarterly ont of surplus net earning in each fi.~cal year before any dividends for such year shall be paid on the eommon stock." In any fiscn.l year in which 4 per cent dividends shall have been declared on both preferred and common stock, all share>1, whether preferred or common, shall participate equally in any further dividends for such year. Dividends upon stock registered in Berlin m a y I,e collected there at the rate of 4·20 marks per dollar.-See also V. 63, p. 1071. DIVIDENDS.-On Preferred.-First dividend paid Jan. 15, 1898, 1 p. c. -v. 65, p. 1115. B0NDS.-A.bstracts of the ne.w Prior Lien and General Lien mortgages of 1896 (the General Lien mortgage being in all respects subject to the other) were in V.63, p. 1012·1019, and the statement to the New York Stock Exchange, was in V. 63, p. 1072. showing: Prior lien 100-year gold 4 per cents secured by mortgage to the Mercantile Trust Oo., mortgage trustee, upon the main line, branches, land grant, equipment, etc., of the Railway Co., and on all property sub sequently acqu ired with the proceeds of the bonds. The prior lien bondR are purchasable with land sales at not exceeding 110 after retixement of general 1st mortgage bonds of 1881 (but are not subject to call), not over $500,000 cash yearly to be so applied. Total issue .... ·-········-· ....•• $130,000,000 Issued ..... -...... . ..................... ..................... 8z,620,500 Reserved to retire $11,505t!)OO general first 6s of 1881... z4,956,soo Do St. Paul & N . .t'. and Western RR. bonds..... 8,423,000 For new construction, betterments, equipment. etc., unaer oa,refully guarded provision 1, but not exceeding $1,500,25,000,000 000 per annum . ... ·-··········-·· ... ····-· · ............... . General lien gold 3 per cents (Fa rmers' Loan & Trust Co., mortgage trustee) ...... ····-· ...... . ....• ·---· ···--- ...... $190,000,000 Of which reserved for prior lien bonds .....•....... _. _..... z30,ooo,ooo Issued to carry out reorganization . . ...... . ..... . _. _... . . . .. 56,000,000 For new construction, betterments, equipment, etc....... 4,000,000 Prior lien bond s are reserved to retire the present divisional bonds, When these shall have been retired, thEI prior lien bonds, by direct mortga_ge, or through ownership of securities. will be the first mortgage on 4,519 miles including "lines owned but not operated", 29 miles; spurs, 123 miles; trackage and road half owned, 41 miles. Said bonds are now (through the ownership of substantially all the securities) virtually a first lien on 2,077 miles. Furthermore, as the prior bonds hold $29,227,000outof $40,732,000 of the Northern Pacific Railroad general first mortgage bonds, they now represent more than 29·40ths of the first lien on 2,4-l2 miles additional, and on the mortgagerl land grant. Sinking fund operations are retiring the out• standing $11,505,000 general first mortgage bonds, of which $1,863,000 are coupon and $9,642,000 registered bonds. Coupon bonds are exchangeable for regist ered bonds in $:'i,000 and multiples tb.ereof; registered bonds cannot be called lllltil coupon bonds have all been retired. See V. 64, p. 1225. No additional bonds can be issued under the old mortgages assumed, nor can said bonds be extended. An abstract of the general first mortgage of 1881 was in V. fl8, p. 903. The sinking fund under this mortgage must receive yearly an amount equal to at least one per cent of entixe iss ne, but the proceeds of land sales to whatever amount received are applicable to the redemption of the bonds at 110. at LAND GRANT.-The land grant was 12,800 acres to the mile in the States of Minnesota a nd Oregon and 25,600 acres per mile in the (then) intermediate territories. The lands on June 30, '97, not yet sold were: . North Dakota (wes~ of Acres. 14A 7 ,c6rfs • Oregon.·······•••••••••• "'4 Missouri River) .... - .. 4,43-L,469 Montana ... - .•.......... 15,668,954 Total west of Mo. Riv.30,760,811 Idaho . .................. 1,826,532 Minnesota.............. 141,176 Northern Pacific. previously controlled by stock, was merged in De- Washington ...... ------ 8,68J,212 --- • ember, 1896, and is now owned in fee. Tot al un s old a creage.30,901,987 '1'11.e origlnal Northern Pacitto Company was chartered by Congress As to land in-ant Dec. 1, 1896, see also V. 63, p. 1070; V. 64, p. 83. July 6, 1864, and its road, opened 450 miles to Bismarck, was foreGENERAL FINANCES.-The fixed annual charges of the new company closed in 1875. An outlet to Chicago was acquixed in 1890 through are $6,110,276 (as on July 1, 1897),a reduction of $4,795,414 as com . l ease of the Wisconsin Central and ownership of the Cllicago & N.P pared with tile old comp ;.1,nv Ttte annual srnking fund for the re( now Chicago Terminal Transfer), but this was relinquished by the re• demption of general first mongage bonds, if not fully met by the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' 108 SUPPLEMENT. [VOL, LXVI, Subscribers will con1'.er a great favor by giving llnJDedlate notice of any error discovered In these Table!!. RAILROADS. For explanation of oolumn headings, &o., see notes on first page of tables. cf; West Branch, Ry.-Stock ........... .. ...... . 1st mortgage, $J ,500,000 ........... .. .. . . . .... .. North Northwesten1, Ooal Ry.-lst M,, $2,000,000, g ... c* NorthernPac.Ter.Oo.-lstM., ~ld, red., atllO ... o~ Northern Railway (Oal.)-lst ., int. guar., goltl .. Consol. M. ($21,000,000)lold,lstM.on 197m.o*&r Norwich & Worcester-Pre . stock, 8 p. o. rental. ... Bonds (not M.),int. gu. under lease, ourr'oy ... o&r Oeonee & Weste1-n-lst M., $9,000 p. m., gold ....... Ogden Mine RR.-Stock (5 p.c.rent.Uen. ofN. J.) ... O~sb. &Lake Ohamplain-Consol. M. (now 1st M.) oome bonds, notoumulative .................... Guaranteed bonds ................................. r OgdensbTransitCo.lstM.(Cent.Vt.&Ogdens.,gu.) NEW SECURITIES ISSUABLE UNDER PLAN. Stock......................................•.. . ...... 1st mortgage, $4,400,000, goid ................... -• Previous to 1897 J. & J. I Bonds-PriD ol INTEREST OR DIVIDENDS. Miles Date Size,or pal,WhenDue Amount of Par Outstanding of Rate fer When Where P¾hable, and by Stocks-La.st Road. Bonds Value. Cen . Payable om. Dividend. - - - - - ---- .. ... ..... .... i49 386 66 48 40 10 118 .... .... .... iss·1 1893 1883 1877 1888 ---- 1897 1893 isso 1880 1888 i2i --·· is91 4Jr $50 $1,500,000 8in'97 M.&N. Phila., Broad St. Stat'n Nov. l,'97, 1,000 1,500,000 6 M. & 8. do do Sept. 1. 19 1 1,000 5 g. M.&N. N.Y.,Farm'sL.&T.Co. May 1, 1923 807,000 1,000 6 g. J. & J. N.Y.Winsl'w,Lan'r&Co. Jan. 1, 1933 3.910,000 1,000 6 g. J. & J. N. Y., 8o.Pao.Co.,23Br'd Jan. 1, _1907 5,156,000 1,000 4,751,000 5 g. A. & O. do do Oct. 1, 1938 100 2,769,200 Q.-J.* Boston, Second Nat. Bk. Jan. 1, '98, 2% 8 1,000 955,000 4 M.& 8. Boston, N. E. Trust Co. Moh. 1, 1927 1,000 360,000 ~ g. M. & 8. Interest pd. as earned. Moh. 1, 1923 100 450,000 J. & J. Phila.. 608 CheE1tnut St. Jan., '98, 212% 500 &o. 3,500,000 6 A. & 0. Oct.,'96, pd. Dec.15,'97 Apr. 1, 1920 100 &o. 999,750 6 A. & 0. Apr. 1, 1920 1,000 318,000 4 J. & J. Apr. 1, 1920 759,500 F. & A. Boston Security Co. 6 Aug. 1, 1909 ·----- . ....... ------ sales of lands, will be provided for by the issue of prior lien bonds reserved therefor. In June, 1897, N ,,. Pao. sold its $5,000,000 of oertifloa.tes of interest in the old Ctlioago & S"o. Pao. property, thereby disposing of its entire interest in the Chicago terminals-see V. 64, p. 1224. The company owned $2,391,050 (par value) of Oregon RR. & Navigation prefeered stock June 30, 1897. The $1,755,000 Missouri Div. 6s (due Ma y 1, 1919) were paid o:ffa.t p ar Nov. 1, 1897, prior lien 4s being issued to provide for them. The right to convert the old general first mortgage 6s into new prior lien 4s will terminate Nov. 1, 1897. V. 65, p. 412. LATEST EARNINGS.-July 1 to November 30, 1897 (5 months), gross, $11,004,998; net, &,6,194,824. A NUAL REPORT.-First report of reor$anized company, being for ten months ending June 30, 1897, was given in full in V. 65, p. 680. See also editorial, p. 650. In the statement below figures for 1896-7 cover 10 months and previous ye ars cover full 12 months ending June 30. 10 months, 12 months, 12 months, 12 mnnlhs, Y1·s. ending Ju,ne30. 1896-7. L89n-6 18~4-5 1893-4. Passenger ea,rnings. $2,850,399 $4,658,642 $3,350,492 $4,136,332 Freight earnings .... 11,085,883 15,119,312 13,210,699 11,565,492 Mail, express, &o.. .. 1,005,536 85,205 873,790 845,385 4,400,000 4,400,000 ···ifg. A_-·&--0. ---······· ............. 'i"927: To Feb., 1898, $4,097,000 firsts had been issued , of which $187,000 had befln retired by sinking fund. (V. 64, p, 1001; V. 65, p. 27; V. 66, p. 83.) Northern .Railway Co. (Callfornla).-(See Map of Southern Pacific.)-This was a consolidation in May, 1888. Owns 390 miles of railroad, leased for 99 yea.rs from July 1, 1888, to the Southern Pacific. Co. Lessee pays fixed oharges and 6 p. o. on stock, if earned, and retains surplus. The capital stook authorized is $21,000,000, par $100; issued $12,896,000, all but $183,800 being owned by Southern Pacific Company. LATEST EARNINGS.-5 mos., S 1897 .Gross, !fl,120,061; net, $496,98[> July 1 to Nov. 30. l 1896.Gross, 1,071,091; net, 519,415 In 1896 gross, $2,202,839; net, $770,106: other income, $158.720; interest on bonds, $546,910; sinking fund, $63,140; balance, surplus. for year, $318,776. In 1895 gross, $2,029,998. Norwich & Worcester RK.-Owns from Norwich, 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 Norwich & New York Tra.nsp. Co., operating boat line to N. Y . City. Lf'ased 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. Stockholders have voted to extend the road Gross earnings .. $14,941,818 $19,863,160 $17,434,981 $16,547,209 from Allyn's Point to Groton, 6 miles. Net earning8 ......... $5,785,946 $7,775,071 $6,115,299 $4,731,089 BOND8.-Bonds of 1897 (notmort~age) for $675,000 were issued in Taxes................ 428,981 $509,708 $501,716 $465,825 March to redeem the $400,000 6s aue Mar. 1, 1897, and for :floating Rentals, etc...... 163,160 257,328 155,069 debt, and in July $280,000 to pa.y for N. & N. Y. Transp. Co.'s :floating - - - · - debt; it is not intended to issue bonds at present (July, 1897,) on the Netoperat',ginoome. $5,::!56,965 $7,102,203 $5,356,254 $4,110,195 Groton extension. Year ending J1me 30, 1896, receipts, $247,104; Misoellaneo's income expenses, $540; interest, $24,000; dividend, 8 per cent (on $2,769,200 not incl.land sales. 255,341 425,710 301,229 339,803 pref.), $221,536; balance, surplus for year. $1,0:l8. Total surplus June 30, 1896, $903,832. (V. 63, p. 698; V. 64, p. 83, 135, 470, 664, 1181; Bal. for interest . .... $5,612,306 $7,527,913 $5,657,483 $4,449,999 V. 65, p. 27, 112, 368, 726.) Interest for 10 mos.. 5,110,248} Interest charges as on July 1, '97, Old accounts, writ . were at rate of $6,110,276 pe1· Nypano KK.-Road from Salamanca. N. Y., to Dayton, 0., 388 ten o:ff. .. . . . .. . . ..•• 12,229 annum. miles; branches-to Oil City, 34 miles; other branches, 9 miles; total owned, 431 miles. Leased lines-Cleveland & Mahoning Valley RR., Bal., sur. for year $489,828 124 miles; Sharon Railway, 16 miles; New Castle & Shenango Valley, DIRECT0.1<~. (Elected in Oct., ll-l97.)-Edward D. Adams, Charles H. 17 miles; Youngstown & .Austintown Ry., 10 miles; Westerman RR.; Coe:ter. Charlemagne Tower, Jr., Robert M. Galloway, Eben B. Thoma8, 2 miles; total leased, 169 miles; total operated, 600 miles. A·reorganizatton of the New York Pennsylvania & Ohio, sold in foreRobert Bacon. D. Willi8 James, Francis Lynde Stetson, Samuel Spencer. Dumont Clarke, Brayton Ives, Jam,.., Stillman and Walter G. closure Feb. 25, 1896. Under the Erie reorganization plan the Erie acquired title to the Nypano and assumed the prior lien indebtedness, Oakman, Daniel S. Lamont, Charles S. Mellen. trusts, etc. The new stock and bonds are owned !Jy the OFFICERS (Sept. 1, 1897).-President, Charles s. Mellen. St. Paul, equipment Erie RR. and Erie securities were given in exchange for the old Minn.; Vice-president, Dan. S. Lamont, New York; Comptroller, H enry junior bonds and stock. A bondholders' trust has been formed to reA. Gray, St. Paul; Secretary and .Assi tant Treasurer, George H. Earl, oei ve interest and diTidends aooruil!g on the Erie securities, and disNew York; Treasurer, C. A. Clark, St. Paul; Chief Engineer, E. H. tribute them ratably among the old .N. Y. P. & 0. first mortgage bondMcHenry; General Manager, J. W. Kendrick, St. Paul; General Counsel, holders. See V. 61, p. 472; V. 62_, p. 457, 549, 909; V. 63, p. 229. Francis L. Stetson, !Tew York, and Charles W. Bunn, St. Paul. The main ottil-es are located at St. Paul. New York office, 35 Wall St.-(V. Oconee & Western KK.-Owns road in operation from Hawkins65,p,824,925,977,1024, 1115. ville to Dublin, Ga., 40 miles; graded Hawkinsville to Grovania, 13 North & West Branch Ky,-Catawissa to Wilkesbarre, Pa., 43 milelil. Successor to Empire & Dublin, sold in foreclosure Sept. 6, 1892. miles; branch, 5 miles. Chartered in 1881 and operated by the Penn- Stock authorized, $477,000; outstanding, $360,000; par $100. Mortsylvania RR. under a~reement of 188 l, to expire Sept. 1, 1901, net gage is ror $!77,000. Interest is pa.id as earned. New York office. earnings to be paid this company. Pennsylvania RR. Dec. 31, 1896, 7 Pine Street. Trustee, Mera.utile Trust Company. Year ending Dec. owned -f 925,000 or the stook and $1,400,000 of the bonds. Dividends 31, 1895, gross, $29,016; net, $1,559. -In 18~7, 8 p. c., of which 2 p. o. was extra.. Ogden lUlne K K.-Owns Nolan's Point (Lake Hopatcong) to Northwestern Coal Ky.-Allou <>z Bay, Wis., to St. Louis River Sparta (or Ogden Mine), N. J., 10 miles. Leased ror 999 years from a.t Minnesota. State line, 13 miles. Chartered in 1892. Capital stock, Jan. 1, 1882, .to Central RR. of N. J. for 5 p . o. per annum on oapital $1,000,000. Mortgage trustee is Farmers' Loan & Trust Co., New York. stock and $500 yearly for organization expenses. For year ending June 30, 1896, gross, $30,741; net, $8,867; misoel. Ogdensburg & Lake Ohatnpl a l n KK.-Owns from Rouse's receipts (rents and dock earnin~s), $35,057; interest charge, $41,520; Point, N. Y., to Ogdensburg, N. Y., 118 miles. The Sarato(a & St. Lawbalance, surplus for year, $2,204. rence, 812 miles, formerly leased, was sold in :foreclosure in December, Northern Pacific Terminal Company, oC Oreo-on.-Owns 1897.-V. 65, p. 1072. terminals on the Willamette River, Ore., at Portland, East ,ortland and ORGANIZATION.-Was leased in perpetuity to Central Vermont RR. Co. Albina, oomprising lands 270 acres, trackage 32 miles, dock frontage for interest on bonds, but the lessee having defaulted Charles Parsons. 7,904 feet. Its Grand Central Station at Portland, Ore., was opened on March 22, 1897, took charge as separate receiver. V. 64, p. 567. ln February, 1896. Ooupon Payments.-Ootober, 1896, interest on consol. 1st mortgage LEASE.-Leased for fifty years from Jan. 1, 1883,jointly and severally 6s was paid Dec. 15, 1897, at Central Trust Co., New York, or Old to Northern Pacific, Oregon Ry. & Navigation and Oregon & California, Colony Trust Co., Boston.-V. 65, p. 1174. with guaranteed rental to pay interest, sinking fund and taxes. The Oonsot. Mortgage Oommittee.-Charles Parsons, Chairman; William rental due Jan., 1897, to Jan., '98, incl., from the Oregon RR. & Navi- Lummis, Thomas Denny, Jr., Chas. R. Batt, Philip V. R. Ely. Over 97 gation Company was not paid by that company, but was advanced by per cent of the oonsols have been deposited with this committee, the other lessees as a demand loan to the Terminal Company. In and suit has been brouitht to foreclose the mortgage. Depositaries, February, 1898, no a.<ijustm.ent of the lease of 1883 yet made. Central Trust, N. Y. or Old Colony Trust, Boston.-V. 63, p. 358, 402. Tile fort'olosure sale~ in bankruptcy of the Northern Paoiflo and REORGANIZATION PLAN.-Plan, v. 63, p. 358, authorizes the issuOregon Navigation companies terminated their joint and several obligations, which their successor companies have not assumed. ance or the new securities shown in table above. Old 1st oomiols to Great Northern Ry. Co. in August, 1894, arranged with Oregon Ry. & receive 110 per cent in new bonds and 80 per cent in stock. New bonds reserved for improvements, etc., $550,000. Navi,gation Co. to run joint trainR into Portland. Or, as an alternative, the plan provides for an amended lease to the Oommittee.-Chairman of bondholders' committee is Edw. N. Gibbs, Central Vermont, guaranteeins- full payment of back interest, future of N. Y. Life Insurance Company, of New York. interest and maintenance of tne property, or sale of old oonsols to a STOCK.-Stook 1$3,000,000l owned by said three companies (40 p. o. syndicate or railroad company at 105 and back interest. by Oregon Ry. & Nav. Co., 40 per cent by No. Paoiflo and 20 per cent by Stook, common, $3,077,000 (par, $100), of which $1,fi91,000 Is owned Oregon & Ca.I. RR.), and held by Central Trust Co. of New York, to b0 by Central Vt.; preferred, $500. Of the guaranteed bondR of 1888 (on delivered after payments to the sink. fund, which is to cancel the bonds La Moille Valley Extension RR., 12 miles, now abandonedl, $8,000 are BONDS.-The first mortgage is for $5,000,000. The sinking fund is to -payable yearly (since 1893.) LoanR and bills payahle Dec. 31, 1896 retire the bonds by maturity, bonds being drawn at 110 and intereRt. $35.000; interest on funded debt due and accrued, $2:3(),78 2. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- ---- JANUARY, 1898. J 107 .RAILROAD STOOKS AND BONDSo Sub11crlbers -w-lll confer a great favor by giving lnunedlate notice of' any error dl11covered ·1n the11e Table•• Bonds-Prm.otINTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Due, Amount Rate per When Where Payable, and by pal,When of Par Outstanding For explanation of column headings, &o., see notes of Stocks-La.at Road. Bonds Value. Whom. Cent. Payable Dividend. on first page of tables. - --· Ohio & Mississippi-See BALT. & OHIO SOUTHWEST. 01'-io River-1st m. ($2,000,000J, $12,000 p. m., g.o* Gen. M. (for $3,000,000)Jol ,1st OB. 39miles .. o* Ravensw. Sp. & Glen.1st ·•fgld,gu.,p.&i.(end.)c* HuntinA"ton & Big 8. 1st M. ( 00,000), gold, gu. c* Ripley &Mill CreeklstM. g.,guar. p.&i., end.o*&r Ohio Ri ver & Olia1·l.-Stock ($2,474,\WOis 6 p.c.pf.) 1st M. (auth. $600,000) red. at par ........... . c*r Ohio Southern -Receivers' certificates, gold ........ 1st mort., $4,000,000 ($15,000p. m.) gold ... O.c' Receivers' certiticates ............................. General (2d) mortgage, (for $2,800,000), g . .. o.c~ Consol. (3d) mort~age, $8,000,000, gold . ......... Car trusts D ec., 1 97 ($319,000 are 6s) ..• . ...... Old Oolony-Stock. _. _. - ... - . _... - •• . . -- .•.......... o* Bonds for Framingham & Lowell bonds . ........ o Bonds not mortg age............................... r Bonds, not mortga ge ............ . ........ . ......... Bonds (authorized $3,000,000), gold........... o*r Bonds ...... _..................... . ............. c&r Boston Clin. F. & N. B. mort., int. guar. byrental.c Old Colony Steamboat bonds, gold (not mort.).c* Providence & Stonington Steamship Co. bonds .. Plymouth & Middleboro 1st M., int. guaJ'. (end.).o* Omana Bridge & Terminal Ry.-lst M. ($5,000,000) Om'1,hn. Tr. a. & Ti),-, ,,,Prn-1 - t M'. /i:,p,p t ext). g oln. . . c* Second (in come) mort., $15,000 p er mile g old . . r Omaha~ lit . L . .x.R.-lst M., g., subj. to call a t par. 169 208 33 12 13 1886 1887 1890 1892 1888 ..... 1897 1897 1881 ··-..... . ..... ---- ... . . ..... ..... ...... .. --- -·--·-· --·· i25 ...... 0 15 '35 ---145 · ·-- --· $1,000 1,000 1,000 1,000 ··ioo 1,000 1,000 1,000 $2,000,000 2,874.,000 341,000 279,000 50,000 6,185,500 m 471,000 3,924,000 67,000 ---· 1889 2,798,000 1894 See text. 1895 ....... 7 57,607 100 16,6 08,900 1884 1,000 498,000 1884 1 ,000 750,000 1,000 . 4,000,000 1888 1894 l,OOO&o 3,000,000 5,100,000 1895 1,000&c 1880 1,000 1,912,000 1893 600,000 i:ooo ------ ---- ---· ----·· ----------- 1892 ...... 1893 1,000 1896 1897 100 &c. 1896 -- --·- (1) 225,000 m 700,000 (1 ) 2,376,000 5 5 6 6 6 g. g. g. g. g. .......... .J. A. F. .J. F. &D . N.Y., Central Tr. Co. & 0. do do &A. do do & .J. New York or Phila. & A. Phila., E. W.Clark & Co. ·---- -----· ---- .June Apr. Aug. .July Aug. 1, 1, 1, 1, 1, 1936 1937 1920 1922 1908 .June· :i:,--i907 7 g . .J. & D . Roc;k Hill, S. C. 6 g . .F.&A.15 6 g . J. & D. June, '96:·pd: ·,~ept., '96 June· :i:,· ·i921 ...4.g. 5§' 5& 7 412 4 4 4 g. 4 5 5 g. .. T ...5.g. 5 M:·&·N. Ma y,'95,coup. last paid . May·i·,--i921 . ........... 1944 ·---Se e text 1898-1905 Q.-J. Boston, Otfioe. Jan.1 '98,1~% A. & 0. Apr. 1, 1904• J. & J. do July 1, 1904 .J. & J. do Jan. 1, 1938 F. & A. do Feb. 1, 1924 do J. & D. Dec. 1, 1925 & J. Boston, N. E. Trust Co. .J. Jan. 1, 1910 Boston, Otlioe. J. &D. Dec. 1, 1903 do ----- J. & J. ............ Boston. Jan. 1, 1912 M. & S. N. Y .. Gilma n, Son & Co. Sepi.° 1,· i926 Oct . l Int . p ayb. only if e arn'd Oct. 1, 1926 4 g. J. & J. 0 NewYurk. July 1, 1901 1-1ros11. E .A.RN INGS.-From Mar. 22 to June 30, 18 97 (314 m os. ), gross, $204,- I Net. Int. <I taxeF. Ren tals, etc. Balance 6 56; net, ;!66, 366; other income, $1,122. 118£16-~.......... $636,523 $164,272 $350,903 $115,996 def.$302,627 RffiP u R r.-E1ep tn-t L ittle' s r ep ort on Central Vermont (V. 64, p. 606) 18!}5-6 .......... 813,780 295,361 368,120 (1) def.72,759 g a ve st atem e nt o f earnings for O. & L. C., showing loss to lessee in 1894-5. --· ...... 784,730 358,601 354,095 16,133 def. 11,627 1895-96 of $112,598 and in 1894-95 of $108,546. Company's fig ures: 1893-4. -- .... . •. 632,020 33~,839 291,123 _ 22.333 sur. 25,384 Year. Jross. iV"et. Other inc. Int.,taxes etc. Balan ce. -(V. 64, p. 42, 83,135,181,331,374,424, 56~, V. 65, p. 152, 727.) 1 8 95-6 . ... $754,420 $202,420 $3,800 $260,622 del'..$54,402 Ohio Valley Ry.-~xtends from Evansville, In~., v:ta Princeton 1894-5 . ..• 768,818 268,551 3,564 267,943 sur. 4,172 o~ tne Clle~apeake qwo & . Southwestern, t~ IJ;opkinsville, Ky., 139 1893-4 . ... 781,090 258,430 4,563 267,643 def. 4,650 ~les, of which 21 miles, Princeton to Grame~ IR leas~d; br!tnohes., 9 -V. 65 p. 152 924 1072, 1174. ~es.. Sold July 13, 1897, for ~1,050,000 to mterests 1dent1fled with ' ' ' Il11001s Central. For years ending June 30, 1896, gross, $362,581; Ohio KlverRR,-Ro.A.D.-Owns from Benwood, West Va., to Hunt- net, $100,462; rentals, etc., $14,040; bala nce, surplus, $86,422. In i niton, West Va., 209 miles; trackage into Wheeling, 4 miles; leases 1894-5, gross, $355,964; net, $90,002.-(V. 65, p. 27, 69, 111.) Huntington & Big Sandy Railroad (opened early in 1893), ffuntington Old Colony KK. (lUass,)-Owns road from Boston to Provinceto Kenova, West Va., on the Norfolk & Western' s new line, 11 miles; M N rt R I il t otal included in earnings, 224 miles; operates Ravenswood Spencer town, a ss., ewpo • · ., etc., 508 m e s; 1eases, l08 miles; total operated 616 miles. See 8UPPLE111ENT of September, 1894. Will use & G\enville Rf., Ravenswood to Spencer, 33 m.; Ripley & Mill Creek the new Union Station in Boston when completed.-(V. 62, p. 547.) Valley, 13 m.; total, 270 miles. LEASE.-In 1893 leased to the New York New Haven & Hartford 8TOCK.-Authorized, $6,000,000; outstanding, $5,915,430; par, $l00. for 99 years. About $5,000,000 of the stock, included in table above, BoNDs.-Trustee of the first and the general mortgage is the Fidelity was exchanged for New Haven stock, and is held by that companv Ins. Tr. & Safe Dep. Co. of Phila. The R. S. & G. mortgage is for $400,- The lease provides for dividends of 7 p. o. per annum on stock not 000. December 31, 1896, there were bills payable, $150,000, and in exchanged. See V. 56, p. 247, 374. t reasury were $247,350 of bonds issued. _ STOCK, ETc.-Stock outsta nding in Dec., 1897, was $16,608,900. An EARNINGS.-On 224 miles, 11897 ... Gross, $885,664; net, $31 9 ,632 morease of stock from $12,000,000 to $15,000,000 was authorized in Jan.1 to Nov. 30 (11 months.) S 1896 ... Gross, 892,597; net, 301,939 Nov., 1889, and a further issuo of $2,000,000 to raise the grade of ANNUAL REPORT.-Fiscal year ends Dec. 31. Report for 1896, with Boston & Providence track for four miles, and $3,000,000 for terbalanoe sheet, was in v. 64, p. 661 and 997 showin g on 224 miles : minal improvements in Boston have b een authorized, making total ~ Yea 1• Gross. Op. ex. &taxes. Net. Int., etc. Balan ce. authorized $20,000,000. None of the Old Colony bonds a.re secured by 1896 . ........ $970,023 $669,930 $300,093 $278,380 sur. $21,713 mortgage. 1895......... 887,271 597,110 290,161 270,628 sur. 19,533 FLOATING DEBT.-Loans and bills payable June 30, 1897, were $1,189!........• 712,-131 46-1,258 248,173 263,322 def. 15,149 019,000, against $872,900 in 1896. Ravenswood Spencer & Glenville gross for 1896, $ 48,116; detloit DIVIDENDS since 1881-In 1882, 612; 1883 to July, 1891, both inunder oper. charges, $14,660. Ripley & Mill Creek Valley gross, 18~6, olus.1.ve, at the rate of 7 per cent yearly; in December, 1891 (dividends $15,142; detiolt uuder charges, $573-(V. 64, p. 661, 997.) changed to quarterly), 29 10 per cent: in 1892, 7; in 1893, March, 1~ Ohio River & O h.arleston Ky .-Owns road ~rom Camden, per cent; June, 213; thereafter 1~ per cent quarterly under the lease. REPORT-Operations since July 1, 1893, are included in N . Y. N. H. & 8. C., to Ma rion, N. C., 17 l miles; branch Bla cks burg to G affney , S. C., 1 012 miles ; c omplet e d in Sept., 1897. Also owns a nd opera t es in H . .-eport, but the company's statement of improvements for the year Tennessee frow .1.Uisons ' Millo to North Caroiina State line, 32 miles; ending June 30, 1897, with general balance sheet, was given in V. i n Kentucky owne,1 Richardson to Whitehouse, 8 miles. A reorgan- 65, p . 565.-(V. 64, p. 4 2,234,664; V. 65, p. 463, 565.) ization in hl94 Qf the Charleston Cincinnati & Chica go. Exte nsions Omaha Rrldo-e & Terminal Ry.-This company owns and operf rom Marion, north, to J.\:[inneapolis (Va.) coal fleld8, 40 miles, and Cam- ates a double track steel railway brid~e acrosB the Missouri River bed en, south, to Sumter, 3~ miles, are to be built. At Sumter connection tween the the citieR of Omaha, Neb., and Council Bluffs, Ia. Also a will be made witll Atlantic Co a st Line for Charleston. line of railway 11etween Omaha, South Omaha and East Omaha, Neb., Mortg a ge Trustee, Finance Co. of Penna., Phil a . and Council Bluft's, Ia., and provides extensive terminal facilities for EARNINGS.-(4 months) { 1897...••...... Gross, $~9,505; net, $10,908 freight and passenger tra tfi o in each of the above-mentioned cities. In Nov., 1897, had in operation 39 miles oftraok and large extensions proJuly 1 to Oct. 31. S 1896.....•. . ... Gross, 61,541; net, 13,034 rt. It has connections with all the leading railroads reaching EARNums.-In year endin~ .June 30, 1897, gross, $190,572; net, jecte Omaha. of 1893 covers the bridge at Omaha and the lands 28,84 4; tax es a nd inter est on fl.oattng d e bt, $14,112; ba lance, sur and otherMortgage property. A union station is projected at Omaha. Presiplus for year, $14,732. In 1895-96 gro ss, $200,069; net, $26,754. dent, John Lowber Welsh, Philadelphia. (V. 63, p . !}69.) Office, 310 Chestnut St., P uiladelphia. President, Samuel Hunt; SecOmaha Kansas City & Eastern RK,-(See Map Kansas retary, John J. Collier. (V. 61, p. 27; V. 64, p. 181.) Oity ct No1·thern Oonnecting.l -Owns road completed in June, Ohio Southern RR.-OwnsSpringfl.eld, 0., to Wellston, 118 miles 1897, from Pattonsburg, Mo., to Trenton, Mo., 35 miles, connectand branches, 80 miles ; extension from Sprinirfleld to Lima, 68 miles ing the Quincy Omaha & ·K. C. (135 m 1 le~) and the Omaha & St. ( completed in Dec., 1893); total, 266 miles. See V. 61, p. 925. Tratfio Louis (145 miles), which roads will ultimately be consolidated with the principally bitummous coal. O. K. C. & E., a s will also the K. C. & Northern Connecting Ry., 72 STOCK, E'i'c.-Btock outstanding, $3,840,000; par $100. miles-see V. 63, p. 190. The Q. O. & K. C. is leased and has been RECEIVERSHIP-DEFA.ULT-SALE.-Receiversappointed May 9, 1895. operated since early in July, 1897. Omaha & St. Louis is also operated Receivers are now N. E. Matthews and F. P. Graf (latter a~pointed Sept. (since July 29, 1897). When consolidated these roads will form in con18, 1896, in place of J. R. Megrue. V. 61, p. 325. First mortgage nection with the K. 0. Pitcsburg & Gulf a new through line to the coupons due June 1, 1896, were paid in Sept., '96. December, '9d, Gulf of Mexico . i ntereot on firsts was not paid. BONDS.-The 0. K. C. & E. first mortp:age is for $14,000,000; bonds COMMITTEES.-First Mortgage: Chairman, W. A. Read of Vermilye & are to be issued at $20,000 per mile on road built with additional amounts for terminals, equipment and bridge over Mississippi River, Oo., Simon Borg, Henry Sanford, Edwin S. Hooley and Thomas !Jenny. trnilt. Second mortgage of 1897 is limited to $11,000,000, intt,rest General Mortgage: John I. Waterbury, Pre~ident Manhattan Trust if up to 5 p. c., payable only if earned and non cumulative; Atlantic Company, No. 1 Nassau Street, New York, Jarues D. Smith, Chair- Trust Co., N. Y., and William A. Rule, trustees. President, A. E. Stilman, No. 42 Broad Street. N. Y., Jules S. Bache, Rush C. Hawkins, W. well, Kans as City; Gen. Man., John M. Savin.-V. 63, p. 190,459, G. Wiley and E . L. Oppenheim: depositary, Marthattan Trust Co., N. 1116; V. 64, p 84, 954, 1225; V. 65, p. 195, 1024. Y.-V. 61, p. 27, 1065; V. 62, p. 139, 320. To Jan. 19, 1898, trust reOmaha & St. Lonis RR,-Owns Council Blnff~ Ia to Pattonsceipts for $L,255,000 deposited general mortgage bonds h a d been burg, Mo .. 145 m. Operated since July 29, 1897, by Omaha, K. C.& East l isted on the New York Stook Exchange. HcSTORY, ETc.-Suocessor in June, 1896 (per plan V. 62, p. 41, 1177 >' RECEIVERS' CERTIFICATES.-Certifl.cates of July, 1895, were issued to pay tirst mortgage coupons due June 1, 1895, t lleir lien is of the Omaha & St. Louis Railwa11, sold in l'.oreulosure Jan. 27. The subsequent to the tirsts. V. 61, p. 152, 367. Additi ,nal certificates ne'! company is tllexist until consolidation with Qumcy Omaha & K. for $365,000, having a lien prior to the tirst mortgage, were sold in O. 1s effected. The consolidated company will be operated in close February, 1897, to pro ·ride for overdue car trusts, laoor claims, etc., connection with the K. C. Pitts. & Gulf a ,d necessary extensions and connections built.-See K. C. & Northern Connecting H.y.; V. 64, p. 84. a nd in Oct., '97, $106,000 more were issued. V. 64, p. 374, 424. NEW SECURITIES.-Capital stock, $2,590,000, represented by GuarBONDS.-Of the consols only $300,000 have been executed; they are held as collateral for oar trusts. Car trusts mature a.bout $150,000 anty Trust Co. certitl.oates (for stock in trust): the $621,900 stock isyearly in monthly instalments. In December, 1895, floating debt was sued to old bondholders is ex:uhangeable into 2d mortl{age incomes if the first 4s of 18!-1 6 are paid off be fore maturity see V. 65, p. 1024· $326,000; in April, 1896, generals for $287,000 were issued. bonds see table above. Under the reor~an1zation plan of Dec. 18; EARNINGS.-Jan. 1 to Dec. 31, 12 months, gross $711,312 in 1897 for 1895 ( V.62, p. 41), the old firsts and seconds received 75 p. o. in the $701,228 in 1896. new 4s and 25 p. o. in new stock and $12·50 (per $1,000 bond) as ANNUAL REPORT,-Fisoal year ends June 30. Statement for 1896-7 distributive share of net earnings to Ju1y 1, 1896. Thenew bonds are was in V·. 65, p. 727. Charges in 1895-6 are approximate. · sub1eot to redemntion at par. (V. 64, p. 42; V. 65, p. 27, 195.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis lOS INVESTORS' SUPPLEMENT. LV'OL, LXVL Subscribers "Will conl'er a great t'avor by giving hnm.edtate notice ot' any error discovered In these Tables. Bonds-PrinolRAILROADS. INTEREST OR DIVIDENDS. Miles Date Size,or Amount R·a te fer When Where Payable, and by pal, When Due. Par Outstanding F or explanation of column headings, &o., see notes of of Stocks-Last· on first page of tables. Road. Bonds Value. Cen . Payable Whom. Dividend. - - --- Oregon & Oal.-lstM.,g.dr'natlOO gu.p.&i.(end) .c-" 596 Oregon Improvement-See MISCELLANEO us COMP AN CES, Oregon Oentral & Easte1·n.-Stook, $3,000,000 ..... 0 regon BB. & NavigationCommon 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 atlOO.c 643 Consol. mortgage, $24,500,000, gold..........•. c* 1,063 Or egon Short Line RR.Common stock, $27,460,100 .. ...........••........ Or. Bh.L. 1st M., p. & i.,gold-see V.63, p.602 ... c* 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.c* 477 ~~1:i~~~~~~i~;1}~~~;1~?go~i~~OO, gold ..••••. c* 1,479 Series A, 5 per cents, $7,185,000 ...•••..•....... Series B, 3 per cent for 3 years, $15,000,000 . . .... 1887 $1,000 $19,625,000 100 3,000,000 isfa 1896 100 100 1,000 1,000 24,000,000 11,000,000 1,855,000 18,464,000 iss2 1878 1886 1897 100 1,000 1,000 1,000 500 &c. 27,435,700 13,651,000 a4,993,000 1,831,000 10,369,500 --·· ---· ---- I .... 5 g. J. & J. N. Y., South Paoifl.c Co. July 1, 1927 ........... -.... --· ··-·····- N.Y. cei:i:t.T;·~&-Boston. Jan:·s;;9s: lo/o...6.g. J. ····& J. N. Y., Seo. & Trust Co. July 1, 1909 ...... ...... 4 g. J. & D. New York & Germany. June 1, 194& ...6.g. F.""i,,,"·A. N.Y., Guar.Tr.&Boston. 7 do J. & J. do 5 g. J. & J. do do 5 g. J. & J. do do Feb:· 1,..i922 July 1, 1908 July 1, 1926 July 1, 1946- 1897 50() &o. 7,336,000 4 p. c. in Sept.'97 N.Y.& Bost.,when earn . July 1, 194 3.4 1897 500 &c. 14,841,000 Oct. do do July 1, 194 a Of which Union Pacific collateral trusts held, Jan. l, 1896, $3,96:2,000. EARNINGS.-Year ending May 31, 1897; total receipts, $326,784; j REPORT.-Report for 1896-7 at length in Y. 65, p 459,469. operating expenses, $287.328; taxes, $17,714; balance net earning Yeat· end June ~01897 1896. under tbe receiv er, $21,740. For fl.seal year ending June 30, 1896, R 'l lin ~ · $4 130 3'81 $3 752 94"' oss, $317,384; net, $52,585. In 1894-95, gross, $290,931; net, al ~· ·· · ··· · · · · ·-· · ·· · · · ···· ·· · ···· · · · · · ··· ' 547 •543 ' 576 ' 16 .., fi,977. In 1893·94, gross income, $455,907. (V. 64, p. 42, 84, 1225; Water Imes········ · · · · · · · · · ···· · · · ·· · · · · · , , 4, v. 65, p. 27,195,925, 1024.) Total gross . .... . .......................... $4,677,924 $4,3:l9,108 · Oregon & Calit'ornla KK.-From Portland, Ore., to California Operatin g expenses and taxes ... - .••••••.... 2,942.745 3,616,486 State une, 367 miles; Albany June. to Lebanon, 12 miles; Portland to Net earnings ............ •·--··-··· ........ $1,735,179 $712,622' Corvallis, 97 miles; Woodburn to Natron, 93 miles; purchased in 1893 For 1896·7 miscellaneous income was $50,580; total net, $1,785,759. Oregonian RR. and Portland & Yamhill RR.; Portland, Ore., to Airlee. Interest on funded debt, $897,640; sinking fund, depreciation, etc.,.. Ore., and branch, 85 miles. Total, 654 miles. $214,664. Balance applicable to dividends, :t673,455. LEASE, ETc.-Leased to Southern Pacific Co. for 40 yearfl from Janu• OFFICERS.-President Sept., 1897, A. L. Mohler; Secretary and Genary 1, 1887, the lessee guaranteeing interest on the bonds, and the lessor eral Attorney, W. W. Cotton; Assistant Secretary, H. C. Tracy, 15 receiving any net profit and being charged with any deficit after pay• Wall St., N. Y.; Treasurer, A. Marcus, 27 William St., N. Y.; Assistant ment of charges. Betterments are payable by lessor. Pacific Improve• Treasurer, G. E. Withington. General offices, Portland, Ore.-(V. 65, p. ment Co. owns the bulk of its $19,000,000 stock, $12,000,000 of which 112, 368, 45 9~ 464, 469, 572, 1072, 1116, 1222; V. 66, p. 83, 135.) ls 7 p. c. pref.; par is $100. Due Bo. Pac. Co. Jan 1, 1896, $1,687,394, Oregon Short Line KK.-(See Map)-Owns Granger, Wyo., to against $655.580 in 1895. So. Pao. guarantees the bonds p. & 1. by en• Huntington Ore., 542 miles; branch to Ketchum, Idaho, 70 m.; Ogden to dorsement on each. McCammon, Idaho, 111 miles; Pocatello to Silver Bow, Montana, 256 BoNns.-Land grant was about 4,000,000 acres, part of which is miles; Lehi Junction to Tintic, Utah, 54 miles; Ogden, Utah, to Frisco, covered by the mortgage, proceeds of land sales going to redeem bonds 275 miles; sundry branches, 122 miles (of which 40 miles narrow gauge); drawn at par, unless purchasable lower. Trustee of mortgage, Union total, 1,430 miles. Also owns but leases to the Montana Union Ry .• Trust Company,New York. The Southern Pacific guaranty of princi• Silver Bow, Idaho, to Butte, Garrison, Mont., etc., 57 mileP. Purchase pal and interest is priuted on each of the 5 per cents. In 1895 netland of the Utah & Nevada branch, 37 miles, by the Salt Lake & Los Ansales subject to mort. were 6,608 acres for $23,878-See Y. 63, p. 754. geles RR. is pending. EARIUNGS.-Year ending Dec. 31, L896, gross, $1,441,127; net, $168,HrsTORY.-Successor March 16, 1897, of the Oregon Short Line & 731; interest charges, $955,028; balance, deficit for year, $786,297. Utah Northern Ry., sold under foreclosure subject to the Oregon Short In 1895 gross, $1,603,438, In 1894 gross, $1,707,175,-(V. 63, p. 754.) Line mortgage of 1892 and the Utah Northern mortgages, and reorganOregon central & Eastern KK.-Owns from Yaquina to Ida.nab, ized per plan of Feb. 20, 1896, in V. 62, p. 504, 505. Ore., 142 miles. Land grant was 850,000 acres. Organized in 1895 The old company was controlled by the Union Pacific Railway Co., as successor of Oregon Pacific, sold in foreclosure Dec. 22, 1894. In which operated it under a traffic agreement. V. 65, p. 572, 736. Dec., 1897, the Corvallis & Eastern RR. was incorporated in Oregon CAPITALSTOCK.-Stock authorized $27,-!60,100, of which $8,460,000 to purchase and extend the 0. C. & E.-V. o5, p. 1219. is owned by U. P. Reorganization Committee-see V. 65, p. 685. A EARNINGS. - In year ending June 30, 1896, gross, $89,503; net, $17,· majority of tbe new stock (or $14,370,000) under the plan went to the 983; no fixed charges. In year ending Dec. 31, 1895, gross, $94,407; old bondholders. The old stock paid an assessment or 12 per cent and net, $5,388. President,A. B. Hammond, Corvallis, Ore. (V. 60, p.712; received 50 per cent in new common and 12 p. c. in bonds. v. 65, p. 1219.) GENERAL FINANCES.-By the reorganization the annual fixed charges Oregon Im.provem.ent co.-See M!sCELLANEOUS COMPANIES. were reduced from $2,788,575 to $1,853,770 and the mortgage in· debtedness, new and assumed, to about $25,000 p. m. The new comOregon Kallroad &: Navl~ation Co.-Road East Portland, pany owns a majority ($16,281,400) of the common tock of the Oregon Ore., to Huntington, Ore., 403 m.1les; branches 660; leases 2 miles; Railroad & Navigation Co. The new semuities were listed on the N. total, 1,065 miles; river division water lines, 353 miles, of which 19 Y. Stock Exohange in July, 1897-see v. 65, p. 69. On list Jan. 17, narrow gauge. Ocean line to San Francisco, 660 miles. V. 63, p. 969. 1898, were: Consol. 5s, $10,369,500; income .As, $7,336,000; Bs .. ORGANIZATION.-Organized in July, 1896, per plan in V. 61, p. 325 $14,018,000. Interest charges ahead of Series A incomes are $1,853,and V. 62-t p. 41, and Aug. 17 succeeded to the property and franchises of 770 and 5 p. o. on the As would call for $359,250. the old uregon Ry. & Na.vigation Co. sold in foreclosure under the_ BoNns.-Of the $36,500,000 new first consols, $24,162,000 are re• consolidated mortgage July 9 and of the branch lines sold July 10 and served to retire at maturity the loans not disturbed and $2,001,000 ar& July 13. Y. 63, p. 76. 116. Old stock Pdid assessment of 6 p. c. See reserved for future use, the balance being issued at once. These bonds also V. 63, p. 311. The Oregon Short Line owns $16,281,400 (a maijor· are a first lien on about 400 milec1. ity) of the common stock of the Oregon RR. & ::Navigation Co. The Series .A incomes are non cumulative and entitled to dividends of t,. Northern Pacific owns $2,391,050 :preferred stock; the Northern p er cent per annum; in September, 1897, 4 p. c. was paid on account Pacific, Great Northern and Union Pacific having acquired a controlling of coupon No. 1 (interest being payable yearly) at Guaranty Trust co., interest in the preferred. See V. 64, p. 288; Y. 65, p. 572. N. Y. or Old Colony Trust, Boston.-V. 65, p. 412. VOTING TRUST.-The Central Trust Co., as trustee, is to liold the The O. R. & N. stock is placed in trust as special security for voting power on all stock till Aug. 17, 1906, unless the trust be sooner the Series B incomes, but dividends thereon are to go to the Short Line terminated by the consent of holders of two-thirds of each class of company except as needed to pay to Series B their full interest. The certificates, or until dividends aggregating 20 per cent of the par Series B bonds will receive from earnings if earned only 3 p. o. intervalue of the preferred stock shall have been paid or shall have been est annually for first three years (but any dividend on O. R.R. & N •. fully guaranteed at rate equal to not less than 4 per ot. per annum. stork shall go toward malting up the full 4 p. c.), and then 4 p. c.; they The trust insures to tne freferred, stock certificates (of which $9,- will be represented by two directors; their consent must be secured to 289,750 went to holders o old consols and collateral trust bonds) the any lease of the property unles their interest is guaranteed thereby. right to nominate terr directors and to the ,,ommi)n stock certificates No additional lien shall be placed ahead of Se1·ies A and B without the right to nominate :fl.ve directors. Provisions of voting trust and the consent of a majority interest.-Y. 65, p. 572. })referred certificates were in SUPPLEMENT April, 1897, page 5. LATEST EARNINGS-5 mos., 5 1897 .. Gross, $2,732,522; net, $1,089,811 DIVIDENDS.-On _p1·eferred fl.rat dividend was paid July 1, 1897, 1 July 1 to Nov. 30. <1896 .. Gross, 2,546,651; net, 864,733 p. o.; Oct., 1 p. c.; m 1898, Jan., 1 p. c. EARNINGS.-From March 16, 1897 (when new company took possessBoNDs.-The consolidated mortgage of 1896 (abstract Y. 63, p. ion), to June 30, 312 month!'!, ~ross, $1,720,797, against $1,610,367 in 928; trustee, New York Security & Trust Co.) covers all the company's 1896; net, $970,570, against :i,822,879. Before reorganization: property, present and future, embracing 1,063 miles of road. Yea·r. 01·oss. Net. Year. Gross. Net. Of the $24,500,000 new consols authorized, $15,174,000 were issued 1896 $5 578 873 $2 261 224 1893 $5 861 634 $2 078 395 or reserved to be issued in exchange for old con sols and collateral 1895 · · · · · · 5 ' 394 ' 97 ' 7 · · · · · 7 ' 0 •1 9 ' 2' 2 67 • 22 ~ trust bonds ; $5,390,000 were reserved for retirement throngb sink. .. . . . •046 •~ 82 •; 0 1 0 47 2 •, 7 8 ,9 14 ' • ing fund or otherwise of $4,900,000 firsts of 1879, [since re• 1894 ······ 5 • • · ···· 7 , 7 ,4 6 duced to present figures] $1,106,000 will be used for betterments, etc., Actual net 1neome, all sources, year ending Dec. 31, 1896 .. $2,355,438 and $2,830,000 ror the construction, if deemed advisable, of addi• Total annual :fl.xed charges of new company.................. 1,853,770 tional road to the mouth of the Columbia Rlver or elsewhere at the OFFICERS, Feb., 1897.-President, Samuel Carr; Vice·President and rate of not more than $20,000 per mile of constructed road. See fur- General Manager, W. H. Bancroft; Secretary and Treasurer, T. K. ther particulars in V. 63, p. 969. Cummins, Jr.; C. A. Hubbard, Comptroller. Fi,rst mortgage has a sinking fund to buy bonds at or below 110, or e1se DIRECTORS.-Oliver Ames, Samuel Carr, Henry G. Nichols, Boston draw them at par on January 1-see V. 64, p. 84. Alexander E. Orr, Francis S. Bangs, New York; Thomas R. Jones, Salt REFUNDING-In December, 1897, the old first 6s were offered the Lake City; Gordon Abbott, Boston; Charles H. Coster, New .iork; T. privilege of conversion into new 4s (V. 65, p. 1116), and to Jan. l5, Jeffereon Coolidge, Jr., Boston; Gardiner M. Lane, Boston; Wa.lter G. 1898, $4,512,000 had accepted, reducing the amount of 1st 6 3 to Oakman, New York; Nathaniel Thayer, Boston, Walter E. Glynn, New $1,939,000. The fixed charges of $930,480 (Dec.. 1897, (annually will York, E. Rollins Morse, Boston, and Edward F. Whitney, Boston. be reduced on completion of the exchange to $822,850. V. 66, p. 135 OFFICE.-Financial Office, Ames Building, Boston.-(V. 65, p. 572, LATEST EARNTNGS.-5 mos. 51897... Gross, $3,086,543; net, $1,558,934 ·736, 624; V · 66, p. 135 ) July 1 to Nov. 30. <1896 .. . Gross, 2,308,926; net, 1,095,880 Oregon Short Line & Utah Nor, Ky,-See Oregon Short Lin~. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I •i~~•! rn~r-···· 1: g,l en 0 z 0 ~ ~ ~ ell ~ 0 ~ ~ ell () A ~ 0 Teromll. ~ I ~ i 1--1 ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis u I I ! Piochea I ~.,--• 1" I • I I I i FRISCO. Mil fo r I --- -- I ·--------• _____ __i__~~n~MAP OF THE OREGON SHORT LINE R. R. AND CONNECTIONS. INVESTORS' 110 SUPPLEMENT. [VOL, LX\' l. SubacrlbeJ's 'Will conf'er a great f'avor by giving lounedlate notice of' any error discovered In the•e Table•. I RAILROADS. CNTEREST OR DlVIDENDS. . Bonds-PrinciMiles Date Size, or Amount ---- ----------------------------- pal,WhenDue. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds :Value. Cent. Payable Whom. Dividend. -------------------------------------------11--OB'Wego d! Sy1·acuse-Btock, 9 p. c. guar., D. L. & W. 35 Consolidated mortgage (~ar. D. L. & W.) . ___ . __. Construction M., ~ar.prm. &int. (for $1,000,000) Owensboro & Nashville- lst mortgage, gold ... . ... c* Panama-Stock ............ . ............ . ....... _.. . _ New 1st M .,$4,000,000, s.f.,g, red.1903,at 105.c• Subsidy bonds.,g., drawn at 100. See V.64,p. 705.c* Paterson d! Hud.Riv.-Stk., 8 p.c. rent. N.Y.L.E.&W. Paterson d! Ramapo-Stock (rental guarantee) . .. . . Pecos Valley-Receiver's certificates, $110,000 ..... 1st mortgage, gold, $8,000,000 ....... . ...... ... . c* Pemigewasset Valley RR.-Stock (rental g uarantee) Pewnsywwnia B.R.-Stock ............... . ......... General mort. bonds, $1,000 and £200 each .. c&r •, ijCurrency ,_tered bonds..........., bll~:::l i,:. Currency coupon bonds . . ............ c ,~ =:::l Sterling bonds ......................... c i:-- ~ ~ Gold registered bonds ............... . . r .3~ ~ O' Gold coupon bonds . ................... c '1--4 Q;) Gold sink. fund, 1 p. c., not drawn . . c* 0 O 0 o Sterling (s.f. in1900) not drawn.c*&r Bonds (P. . & B. stock as collat.) not drawn ... r Navy Yard mort. (extended 20 years in 1881) ... r Collateral trust loan, gold, not drawn ........... c• Equip. Tr. ~ld bonds (s. f. 5 p.c.) not drawn .... c' Penn. Car ust (in series payable 1 10 yearly) .... Penn. EQuip. Trust (in series payable ii 0 yearly) . Penn. Rolling Stock Trust (1-10 payab e yearly). Del. Ave. Market 1st mortgage........... . ....... r Delaware Ave. Bloodgood property............ . . r Penn. RR. real estate purchase money gold M.c*&r 35 35 88 48 48 i876 1883 1881 i897 ·1j 1880 i64 1893 Gross Net. Net of 50 $ or.£ 1,000 1,000 £200 1,000 1,000 1,000 £200 1,000 .5,000 1,000 i~~~ I 1,000 1884·8 1,000 '86-91 1,000 1,000 5,000 1889 1892 1,000 1,000 1893 568 is67 568 1875 568 1875 568 1873·4 568 1879 568 1879 568 1893 568 1895 1881 1881 I .:t_.-M. 1892 1 I Su1-plus, to Dec.31. Earnings. Earnings. Steamships. Oha1·ges. I n cl. Other I n c. 181-16 ..... $1,201,574 $819,176 $22f>,539 $846,392 sur. $545,685 1895 ..... 1,311,634 886,831 def. 333,759 884,934 sur 62,941 The char"'es above in 1896 include: Lighterage, $116,863; general expenses, '$102,579; other e xpenses, $137,331; subsidy payment, $250,000; interest on sterling bonds, $239,619.-(V. 64, p. 518,705, 707,516, 572.) Paterson &; Hudson Klver.-Owns from Weehawken, N. J., to Paterson, N. J., 13 miles. double track. Leased in perpetuity at $48,400 per year to Erie RR. (formerly New York Lake Erie & Western), form• tng part of its main line. Paterl!lon. & Ranaapo KK.-Owns from Pater son, N. J., to New York :state Line, 14 miles, double track, part of main line ot Erie RR. (formerly N. Y. L. E. & W.), to which it was leased Sept. 9, 1852, during legal existence, at $26.500. Peco• VaJley Ky.-In operation from Pecos City, Texas to Eddy, 89 miles; extension Eddy to Roswell, 75 miles; tota l operated in May, 1896, 164 miles. The irrigation system now completed will aupply 250,000 acres with water. REORGANIZATION.-In June, 1896, to provide for building an exten• sion from Roswell, N. M., to a connection with the Atchison Topeka & Sante Fe at Washburn, a distance or 208 miles, reor~anization was undertaken. Ne w honds for $2,790,000 will be issued to build this ex• tension, leaving $372,000 in treasury. The present mortgage will be canceled. The new capitalization will be $3,162.000 tirst mortga ge 5s, $3,162,000 preferred 6 p. c. stock, non-cumulativ'3, and $3,162,000 common stock. Name of new company will be Pecos Valley & Northeastern RR-V. 64, p. 1227. The old first mortgage bonds, with October, 1895, and subsequent coupons, will be given 120 p c. in the new preferred stock and $600 in new common. The new first mortgage will cover the entire line from Pecos to Washhurn, 372 miles. Pendinfl reorganization the road is in the hands of E. 0. Faulkner of Eddy, N. M ., as receiver, and $100,000 of receivers' certificates have been issued to pay the floating delJt and to make some improve· ment in bridges, etc. The Reorganization Committee consists of Chairman J. J. Hagerman; Secretary John 8. Wi s e, 44 Broat. St., N. Y.; William Rotch, Ben.Jamin Graham, Charles A. Otis and D. McCool. Practically all of the bonds have been deposited with the Central Trust Co. of New York. -· (V. 62, p. 950, 1089; V. 64, p. 1227.) Pemlge-waHet VaJJey KR.-Pl:vmouth, N . H. , to Lincoln,N. H., 23 miles. L ea sed to Boston Concord & Montrea l (now Concord & Montreal) for 6 p. c. on stock. Pennsylvania KR.-( SeeMap)-LIN'EOF ROAD-The Pennsylvania system embraces 8,977 miles of main track, 1,7~5 miles of second track and 4,269 miles of sidings, including all east and west of Pittsburg. At the close of 1896 the mileage operated east of Pittsburg & Erie, on which earnings as reported were based, was divided as tollows: Penn• sylvania, D1V1sion and branches, 1,695; Philadelphia & Erie DivisioD, 568; United Railroads of New Jersey and branches, 524; total ope· rated, New York to Pittsburg, with branches, 2,787. ORGANIZATION, LEASES, &c.-The charter of the Pennsylvania Rail· road was dated April 13, 1846. The Pennsylvania Umnpany controls a.11 tl1e lines west of Pittsburg t1,nd Erie, the Peunsylvania Railroad Compa n y h olding a ll its stock. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis g i:ooo 100 Os-wego & Syracuse KK.-Ownsfrom Oswego, N. Y., to Syracuse' N. Y., 35 miles. Leased in 1869 during length of charter and renewal thereof to the Delaware Lackawanna & Western Railroad Company :fo1 9 per cent per year on $1,320,400 stock and interest on bonds. Owensboro & NashvilJe Ky .-Owns from Owensb oro, Ky., t o Adairville, K y. , 84 miles; Mud River Bran ch, 4 miles. Oper ated b y Louisville & N ash v ille Railroa d, which owns the $1,15 6,518 stock (p ar $100) a nd $1,200,009 of t h e first mortg8:fe bonds- all these b o:nds and :i!-\~fcf:lcsJ~~kt~~:gof\1~g:l~&u§-~er is trust d eeds. Earmngs are Panama RK.-ROAD-Colon to Panama, 48 m. completed 1855. In December, 1895, an agreement was made with P a cific Mails. s. to run three years, and cover joint traffic between New York and Central America , Mexico and the u. s. Pacific coast. v. 63, p. 76. ENDS.- { , 8 5 , 8 6 . 7 , 88 , 89 , 90 , 91 , 9 2 , 93 { None DIVID Since '84 p. ct . 10 nil. 23 9 fi 5 2 2 since BoNDs.-The n ew mortgage of 1897 is for $4,000,000, of which $2,· 000,000 to refund the 7s due Oct. 10, 1897, balance for other purpos es. Trustee • Centra l Trust Co., N. Y ., a nd Wm. N el son Cromwell, N. Y.; t he sinking fund is $1 5 0,000 yea rly a nd bonds m a y b e drawn fo r s. f. a t 105; the entire i ssue m a y b e called for payment on a nd a fter April 1, 1903, at 105 .-V. 65, p. 516. The subsidy bonds are secured by an a ssig nment and pledge made by the U.S. of Colombia to the trustees of $225,000 annually, of the annual subsidy or rental tothat extent payable to said gov ernment by the company, and are drawn and paid oft' on November 1 yearly with all'Y surplus of the subsidy not needed for interest; sinking fund J a n. 1, 1897, held $312,000 suhsidy bonds, there hav in~ been p a id off $107,000 on Nov. 1, 1896; $114,000 subsidy bonds called for payment Nov. 1, 1897. Bee statement as to subsidy bonds in V. 64, p. 705. ANNUAL REPORT.-The report for 1896 inV. 64, p. 705, showed: Yea1· -------------·-- 1---------·-- F.-A.,20 N. Y., Del. L. & W. RR, A.uf 20, 1897 $1,320,400 9 438,000 M.& 8. do do 7 Mc . 1, 1907 M.&N. N. Y., Farm. L. & Tr. Co. May, 1923 668,000 5 2,000,000 6 g. M.&N. ,,. Y., 120 Broadway. Nov. 1, 1931 7,000,000 3, 1893 ·4i;·g. A. & 0. N. Y., 29 Broadway. Jan. 2,000,000 Oct. 1, 1917 1,732 ,000 Nov. 1, 1910 g. M.&N. N. Y., 29 Broadway. 630,000 J. & J. N. Y., 44 Exchange Pl. Jan., '98, 4% 298,000 J. & J. N. Y., 44 Exchange Pl. Jan., '98, 4% 8 100,000 8 2,340,000 5 g. A:·&··o. ,A.pr., '9.5,"coup: ·1ast pd. Apr. 1. 1943 533,700 6 F. & A. Feb., 1898, 3% 129,303,700 5in 1897 M.&N. Philadelphia, Office. Nov.30,'97,2¼ 6 Bee text Phila. Office & Londou. July 1, 1910 19,997,820 1,961,000 6 June 15, 1905 ~.-M.I.5 Philadelphia, Office. 6 do do 2,757,000 .&D.I.5 June 15, 1905 22,762,020 6 J. & J. Phila. office and London July 1, 1905 5 g. 3,498,000 Philadelphia, Office. Sept. 1, 1919 5 g. do do & s. 1,500,000 Se.pt. 1, 1919 4 g. M.& N. N. Y., Farm's L. & T. Co. May 1, 1943 3,000,000 4,850,000 312g. J. & J. Lond.,.J oint-St'k Bk.Ltd July 1, 1945 4 7,702.000 J. & J. Phila.,Pa.Co.for Ins.&c. July 1, 1921 Phila., Co.'s Office. 1,000,000 5 J. & J. Jan. 1, 1901 412g. J. & D. Phila.,Provid'tL.&T.Co. June 1, 1913 9,900,000 4 g. M.& 8. Phila., Gir'd Life &c. Co. Sept. 1, 1914 2,728,000 5 Quar'ly. Phila.,Provid'tL. &T.Co. 1897 to 1898 50,000 4 1,787,000 i-F. Phila.,Tr. 8. D!E.&I. Co. 1897 to 1901 4 2,270,000 uar. Phila.,Gir'dL' e&c.Co. 1902 Philadelphia. 300,000 Moh. 1, 1909 4 3 10 M. & 8. 200,000 Sept. 1, 1912 PhiladelJ>1!:i.a. 4410 M. & 8. 4 g. M.& N. N. Y., Farmers' L. & Tr. May 1, 1923 2,000,000 $50 1,000 1,000 1,000 100 1,000 1,000 50 SECURITIES OW.NED.-The total cost of these to January 1, 1897, was $119,947,895, most of which a.re pledged to secure Pennsylvania issues. Revenue derived from these securities in 1896, $4,615,433. CAPITAL 8TOCK.-8tock authorized by law $151,700,000; the amount outstanding has been increased from time to time, chiefly by sale at par to stockholders, for new acquisitions, etc. DIVIDENDS 5'83 '84 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 toNov.'97 per cent. <81.g 7 5 5 512 5 5 512 6 6 t5 5 yearly. t And als o 2 per cent in scrip. BONDS.-lnterest on general mortgage 6s of 1867 is payable on coupon bonds January 1 and July l; on registered bonds, April 1 and October 1. The consolidated mortgage of 1873 for $100,000,000 secures all the consols equally, though issued at different dates; of the amount author• lzed, a surficient amount is reserved to retire the general mortgage of 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 reai 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 of other companies of an estimated cash value or over $50,000,· 000. These securities produced in 1892 an income of over $2,600,000. Sinking fund for consols Jan. 1, 1897, held-Consols canceled, $1,771,· 980; other securities, $4,798,682. Tbe 4pe1· cent loan of 1881 is seoured by pledge of Philadelphia Wilmington & Baltimore stock. The collate1·al trust loan ot 1883 is secured by the deposit of mortgage bonds of subsidiary lines to the par value of $13,576,000. Theguaranteedsecuritiesareboughtwithlpercentofthenetin0ome yearly, and $8,212,730 (par value)so purchased were held Jan. 1, 1897. GUARANTEED BONDs.-In addition to "guaranteed rentals,' the Pennsylvania RR. is contingently liable under guaranties on ce1·tain ot the bonds of tho following companies, the nature of the guaranty being described in the separate statement for each company-which see. Allegheny Valley Ry. Harrisb'g Portsmouth River Front RR. B alt. & Potomac RR. Mt. Joy & La.Ile. RR. Susquehanna coal Co. B elvidere & Del. RR. Mt. Holly Lumberton Delaware Riv. RR. & Camden & Burlington & Medford RR. Bridge Co. Comnany RE.. Pennsylv'aCanal Co. Tyrone&Clearfl.eldRy. Chartiers R:v . Pennsylvania Co. United N. Jersey R~. Connecting Ry. Phila. Germantown & West Chester RR. Girardpt. Storage Co. Chestn1it Hill RR. West'n Pennsylv. RR. Junction RR. Philadel'a & Erie RR. In Sept., 1897, $5,000,000 Pennsylvania Company Series A. guara n t e ed trust certificates were i i;:sued see Pennsylvania Company. GENERAL FINANOES.-Mortgages and ground rents payable· were on Jan. 1, 1897, $4,288 1071. In July, 1895, $5,000,000 consol. 312s wertt sold for Delaware River bridge, constructiqn and betterments during 1895. (See V. 61, p. 69.) LATEST EARNINGS.-Jan.1 to Nov. 30 (11 months) directly operated: Lines east of ~itts• i 1897, gross .......... $ 28,605,272; net, $1~,86'.!,671 burg & Erie. 51896, gross ........•. 06,904,272; net, 16,560,571 Lines west of P. & E., inc. or dee .. .. gross + 1,135,500; net, +1,702,800 ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held at Philadelphia on second Tuesday in March. The report for 1896 was · t 1 o+h · v 64 465 470 ee 18 o edito ial 448 given a en,,u m · • p. • ; s a r p. · EARNINGS ON ALL LINES BOTH EAST AND WEST OF PITrSBURG AND ERIE. The :figures for 1896 and 1895 are as follows: 1895. Year ending Dec. 311896. $130,319,354 Gross earnings ...............•.......... $123,634,120 90,893,610 Operating expenses.......... . .. . .. . . . . 88,::129,329 I I I ----- Net earnings ........................ $35,304,791 $39,425,743 The income account has been as follows, the " net income " given in the first line being the amount of income after deducting interest paid. INCOME ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY. Year ending Dec. 311896. 1895. 1894. NetincomePenn.RR. Div'n $8,898,589 $9,778,233 $8,779,258 Net gain on N. J. Division. 439,424 727,694 679,461 GainonPhila. & Erie Div.. 53,108 24,505 11,400 Balance or income .....• Payments-To trust fund .. Consol.mortgage redeemed. Allegh. Val.RR.Co.-De:fic'y Extraordinary expenses .... $9,391,121 $10,530,432 $73,048 $87,217 324,780 324,780 244,570 156,715 1,516,899 1,327,250 $9,470,120 $74,340 ;i24.780 325,980 1,385,2n $2,159,297 $1,895,962 $2,110,372 Ba.lance to credit of income $7,231,824 $8,634,470 $7,359,748 Dividends................... (5) 6,465,123 (5) 6,465,011 (5) 6,464,647 .ro credit of profit and loss. $766,701 $2,169,459 $'395.099 Ba.I. protit and loss Dec. 31. $24,152,323 $23,553,470 $23,155,632 OFFICERS (Feb., 1897.)-President, Frank Thomson; 1st V. P., John P. Gnen. 2d V. P., CharleEI E. Pug-h; 3d V. P., S. M. Prevost. Secr6• ta.ry, John C. Sims; Treas., Robert W. Smith.-(V. 65, p. 368, 413, 572 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE PENNSYLVANIA R.R. SYSTEM-. INVESTORS' SUPPLEMENT.. 112 [VoL. LXVI Subscribers -will confer a great favor by giving Immediate notice of any error discovered In these Tables. RAILROADS. F or explanation of column headings, &c., see notes on first page of tables. Bonds-Prlnol· INTEREST OR DIVIDENDS. Miles Date Size, or Due, Amount Rate per When Where P~able, and by pal,When of of Par Stocks-L1wn; Road. Bonds Value. Outstanding Cent. Payable om. Dividend. --- --- - - - - ---· ---· 1881 p,ennstvania Oompany-Stock . ..... .•. .. •. ..... .. .. Bon a, gold, sec. by pl'ge & guar. (not dr'n) .. c*&r Guar.tr.ctfs.$20,000,000 g.gu ar. P a . RR.,ser.A* ..r Car trusts (D ec., 1 897 .. ... .. ........ . .. ... . . . . .. . .. p ennsylvania <I: Northwestern-Stock, $2,500,000 .. Bell's Gap Extension lstmortga~····· · ······c~ Consol. mort. (for $550,000) a. d not dr'n. c* Clearfield &Jefferson lstmortgage . . ... . . .. ... . c* General mortga e for $2,500,000 . .. . . . . . . .... .. c* Car trusts, $74, 00 due yearly .... .. .. .. . .. ... . .. p eoria <I: Bureau Val.-Stk., 8 p. c. rent'l C. R.I.&P. p eo. Decatur& Evansv.-Recei v er·s certificate . .. . . . Stock authorized, $9,900,000 . ........••.. . .... . . 1st M. (Peoria.Div.),jold ...... .. ... .. . .. . .. .. . . c.., lat m. (Evansv.Div., attoon to Evansville,) g .c* Second mortgage, gold .............. . ..... . ..... c* Chicago & Ohio Riv er Div.1st mort. (s ee t ext.) . . Income mortgage, $750,000.. • .... . .. .. .......• . N EW SECURITIES UNDER BROWN P LANNew common. $~,400,000 .................. . . ... New prefer red, 5 p. ct., non·cnm., $3,000,000 . . New 1 st mor tgap;e, gold, $2,757,000 .... . . ...... p eoria cl Eastern-Btoek ..•..•••••.....•. .•..•.•••..•. Ind. Bloom. & West. 1st M.fpref., int. guar .. . c&r Ohio Indiana & West. lstM.,pref.,gold, int. gu.c~ P. & E. consol. M. $10,000,000, interest guar .. c* 2d consol. mortgage,income, non•cumulative ... c p eoria cl Pekin Union-lat mortgage, gold .... . ... c 2d mortgage, gold ... . ......... . ................•.. o 3 · -·· - ·· · ·s2 24 24 38 62 · 47 . . .. 110 128 244 86 86 .. .. .... . .. . 202 342 342 342 20 20 1897 .... is11:rs 1883 1886 1890 -- ·· isois isso 1880 1886 1886 1886 --- $50 $21,000.000 1,000 19,467,000 1 ,000 5 ,000,000 l ,'2Gl ,853 ····50 2,250,000 1,000 81,000 500 &c. 145,000 500 &c. 1,000,000 1,000 1,021,000 297,000 .. ioo 1,500,000 13,0U! ···ioo 8,400,000 1,000 1,287,000 1,000 1,470,000 1,000 2 ,088,000 500 &c. 250,000 618,300 ------ . ..... 8 ,400,000J 3,000,000 2,757,000 .. ioo 10,000,000 100 &c. 1,000,000 1888 500 &c. 500,000 1,000 1890 8,103,000 1,000 1890 4,000,000 1,000 1881 1,495,000 1,000 1881 1,499,000 -· ·- is97 is19 ... ... Pittsburg, Co.'s Office. 41.gg. J ...&.. J. N. Y .. Nat' l City Bank. 3 1.gg. M. & S. N.Y.,Union Tr. & Phila. 4 Various Phila., Gu.Tr. & 8. D.Co. F::&·A. Pblla., 26 So. 15t,h St. 6 6 A. & 0. Phila., Gu.Tr.&S. D.Co. 6 J. & J. do do 5 J. & J. Phila.,Gu.Tr.&S.D.Co. 5 F. ..&..A. N.Y. ,cli:R·.i:&-Pac. RR. 8 ..... . ......... 6 ...6.g. J ...&.. J. J uly,'97, pd.Dec. 28 ,'97 6 g. M. & S. Sept.,'96, pd.Feb.10,'97 ~ g. M.&N. Nov., '93, coup. last pd. M.&N. Pd. on bonds not own'd 6 ........... --··· --- --- ··-·· · . . ... . ... . ...5.g. ..... --· · ·· --- · ······ ·-·· ····---- -- J ...&-·J. N. Y., J.P. Morgan & Co. Q.-J. do do 4 A. & 0. do do 4 April 1 N. Y., when earned. 6 g. Q.-F. N. Y., Central Trust Co. 41.gg. M.. & N. do do 7 5 g. June 1, 1894 July 1, 1921 Sept. 1, 1937 Various dates. Jan. 10, 1895 Aug. 1, 1905 Apr. 1, 1913 Jan. 1, 1927 Jan. 1, 1930 Mar., "98 to'0 3 F eb., '98, 4% . ........ Jan:··ci92 0 Sept. 1, 1920 Nov. 1, 1926 1916 1916 . ........ . ... . .... . ······-· Jan:·1,--i9 00 Apr. 1, 1938 Apr. 1, 1940 Apr. 1, 1990 Feb. 1, 1921 Feb. 1, 192 1 Pennsylvania Company.-(See ,l fa,p Pennsyl1Jania RR.J -This J $250,000 Chicago & Ohio R. firsts outsta nding as in table above, and · company owns no road in fee but has charge of all the system of the has i ssued a s collateral an order for $100,000 additional. Pennsylvania Railr9ad Co. west of P i ttsburg, its lines including: RECEIVERSHIP, ETc.-On January 13, 1894, placed in receiver' Leased by transfer f rom Pa. R_R.: Other l i 1~es .con tro 'led by sloe~ or hands. The receiver is now E. 0. Hopkins-see V. 65, p. 195 . 1 . . ,, M i ~es. . othe : 1nse. . Mil es. COUPON PA YMENTS.-See tab lt> for date of last coupon paid. Central Pitts b. Ft. W . & Ch1ca,,o. fi469 89 Pitts. Cm. Chic. ~ St. L. Trust Co. N. Y. when authorized pays coupons V 65 p 413 New u astle&Bea verVal .. f,14·981 Ry.andleasedlmes .. .. 1,340·68 ' ' ' · · '· ·. Massillon & Cleveland. ... 12·23 Cin. & Muskingum Val... ~ 148 4 5 R EORGANIZATION _PLANS.-The Scudder Be(?onq m~rt~age committee Erie & Pittsburg .. . ..... . f,84·47 Waynesburg & Washing. . 28·15 (see V. 64, p. ~042) issued a plan o~ reor~amzat10n w l\'.(1:1,y, 1897, and Cleveland & Pittsburg .. .. f.198·34 Cleveland & Ma rietta ... .. f,103·08 the Brnwn _First Mortg a~e LJommltte e 1ss~ed a plan rn Se_pte~ber, Leasetl di?'ectly by Pa. Oo.: Cin. Lel>. & Nor.. . .... . .... 31·76 ~~97 (V. 6 ;:,, p. 621). These plans _we re given m COD?Pal'lson m V. Pitts. Youngs. & Ashta . ... fll25·09 Cin. Rich. & Fort W a yne. . *85·60 6:> , p. 6 21. ?,'he Brow n pla n wouM giv e: Old zst 6s par m new 1st 5s Toledo Wal. Val. & Ohio . .. 'I] 125·40 St. L . Vand. & Terre H . .. f,15 8 ·30 and ~Op. c. m pref_erred stock; old 2d 5s to pay a ssess. of 25 p. c. and Indianapolis & Vincennes ,Tl33·11 East St. L. & Caronrt elet .. f, 13·25 re~eive 11212 p. c. m preferred; old common assessed 5 p . c. and to re• Controlled by stock or otherwise: Contr olled jointly with ce1ve 5 p . c. n ew pfd. an d 100 P c. n e w common. Interest charges Pitts. Ohio Val. & Cin.. . .. . 15·27 other compani es: under Brown pla n, $137,850; under Scudder pla n, $162,830. Roch. Beaver F alls & W.. . ·5il Pitts. Chartiers & Yough . . f,15·7-! COMl\HTTEES.-First mortgage bondholders' committee (both divisions) Ma!gin~l RR.,Beav .F .. P a . 2:061 T?l. Peoria ~ ~estern . .. . ,T230 ·70 con:~ists of Walston ~- Brown, Chairman, 40 Wall St.; Wm. Augustus Balmeville RR. . ... ... .. ... 3 07 Lmes used Jomtly under White, 130 Water St., E . H. Ladd, Jr., Morton 8. Paton, Cb.arles X. Pea· Rolling Mill RR. ,'roledo,O. ·71 trackage a rrangem ents . 93·3 3 body , Jr. Depo~itary, Atlantic Trust Co., New York. A maJority of South Chi c. & Southern.. . 10·25 - - first s of e ach division have b een deposited. V. 65, p. 778, 824, 977. State Line ~ Ind. City... . 7:561 Total of all lines .... ... 3,457·35 Dec;ees of sale have been applied for under !>oth divisional first Calumet Riv er.. .. . . . .... . 4 43 mort 0 ages. (V. 6!, p. 1089, 1138; V. 60, p. 70,190; V. 66, p. 184.) 1nd . - : - 1 .. Opera ted by Gr. R a pi_ds & · second Mortgage Bondholde1·s• Oom,ni ttee.-Moses L. Scudder, Tot. op. direct . b y Pa.Co.1,203 31 ,r See statement for this co. Cha irman; Charles S. Fa.irchild, J enkins Van Schaick, R. Suydam ORGANIZATION-Chartered in Pennsylvania April 7, 1870, and oper• G rant, W. H. Payne ; depositary, N. Y. Security & 'Irust Co., N. Y. See ates all the Pennsylvania's leased lines west of Pittsburg. Its stock V. 60, p. 930, L106. Practically all the seconds had been deposited. is owned by the Pennsylvania Railroad. On December 31, 1896, the Decree of foreclosure of 2d mort. was granted in March, 1897. Pennsylvania Company owned sundry bonds having a par value of M inor·ity Second Xortgr,,ge Commiltee.-John B. Westbrook, Marcus $5,787,300, and stocks of par value of $60,4'15,168, these stocks and M ayer a nd Frank Russak. (V. 65, p. 27.) bonds representing on the company's books a value of $35, 2 50, 94 FLOATING DEBT.-On Dec. 31, 1896. principal of bills payable was and yielding from Jan. 1 to Dec. 3l, 1896, an income of $l,867,85 6 . $808.591; accrued intere ➔t unpaid, $175,195; equip. notes, $12,330; Of these securities part a.re pledged, as said below. overdue interest on seconds, $332,600; due H. I. Nicholas & Co. on DIVIDENDs.-In 1883, 4 per cent; then none till 1892, when 4 per stock a ccount, $65,672; receiver's bills payable, $25,000. cent was paid in March; in 1893, March, 4 p. c.; in 1894, June, 4 p. o. EA.RNINGS.-8 months, t 1897 ..... .. . Gross, $592,954; net, $105,547 BoNDS.-Thegold bonds nf 1921 are securecJ by a deposit of the leases Jan. 1 to Aug. 31. 51896 ...... •. Gross, 561,315; net, 150,960 of p. Fort W. & C., the Cleve. & Pittsb. and Erie & Pittsb. railroads, and RECEIVERS' REPORT.-Report for y ear ending Dec. 31, 1896, was of bonds and stocks having a J)ar value April 1, 1881, of $24,171,630, given in V. 64, p . 1040. !merest on 2d mortgage and Ry. Co. floating as well as by lien on certain real estate. They are also guaranteed J ebt (which was not pa.id) not jncluded for any of the yea.rs. as to principal and interest by the Pennsylvania Railroad Com• 01 N t r, t 1 t R t c1; B l pany, and a.r e so endorsed; the trm:itees of the mortgage are W. B. 1896 ·oss. n e ·es.. ·c. a ance. 2 04 864 054 $ 2 0 4e ,·95 8 $ 172 472 $ en 33 ,·•690 ,776 Barnes, John P. Green and N. P. Shortridge. In 1892- and 1893 the 1895 · · · · · · · ·· · · $ 911 , def.$l, 3 244 •141 170 , 897 30 , 141 sur. 43 ,io company guaranteed certain Pittsburg Cincinnati C. & St. L. bonds. ··· ·· ·····• 860 •998 1894 161 220 173 4 43 430 In Sept., 1897, guarantl!ed trust certijic(Ltes were issued by Girard · · · · · · ··· •• , , , 30,85 def. ,064 L . I. A. & Trust Co .• Phlla. , as trustee, under a deed of trust made by To b alance (def. or sur.) for 1896 and 1895 add $15,000 dividend on t he Pennsylvania Compa n y a mt t he P ennsylvania RR. Co., w hneby P. & P. U. stock in both y ears. but ownership of this stock is in t he P enn ylvania Compan y h as pled ged $ 5,000,000 at p a r of the 7 per lit ig ation. PreRident, (Oct. '97) R. S . Ander son.-lV. 65, p. 1222; V. c 1mt g u a r anteed special stock or the Pittsburg Ft. W ayne & Chicago 66, p . 135, 184.) R ail w ay Co. The total a u t horized issu e of the trust certificat , s is Peoria & Eastern Ky.-(See Map Clev. Oin. Ohic. <I: St. Louis.)$20,000,000, each series t o b e secured by d e posit of sh ares of t he speci al g u aranteed stock to a n a mount equa l t o t h e par value of the Owna rrom Pekin, Ill., to Indianapolis, Ind., 202 miles, and has a lien s eries. T he series A. ~ ere issued in Septemher, 1 R97, for r efundin g of $5,000,000 on Springfield Division, Indianapolis w Springfield, maturing bond and to meet t h e cost of capital exp enditures. Sinking Ohio, 141 miles; trackage, Pekin to Peoria, 9; total operated, 352 miles. fund $ 50 ,000 a year, b ut certific ates cannot be called. See V. 6 J , p. LEASE, ETc.-Formerly Ohio Indiana & Western, sold in foreclosure 3 68, 572, 11 L 6. in 1890, reorganized per V. 49, p. 616, and leased till Apr. 1, 1940, to ANNUAL R EPORT.-Report for y ea r ending Dec. 31, 1896, w as in V• Cleveland Cincinnati Ch. & St. L., which guarantees interest, but <>5, p . 24. In year 189t> gross on 1,225 miles, $19,423,975; net, $7, not principal, of the first consols and the underlying bonds, and owns 312,371; interest, rentals, etc., $7,074,104; balance, sur., $238,267. one-half tee $1{),000,000 stock, par $100. See SUPPLEMENT of Jan., 1894, a.s to prov'lsions respecting any surplus over charges. In 1895 gross, $20,888,964; net, $8,302,629. Income account has shown after payment of all obligatory charges. BoNDs.-The consolida.tfld mortgage of 1890 covers, besides the road (n 1890, net profit, $1,081,958; in 1891, net profit, $1,725,938; in owned., the $5,000,000 purchase money lien on the Springfield Divisiol!; 1.892, profit, $1.229,974; in 1893, profit, $1,050.476; in 1894, loss, $1,500,000 are reserved to retire the :;,rior liens and a sinking fund f<R $687,476; in 1895 profit, $947,034; in 1896, profit, $238,267. (V. 65, this purpose held $140,000 on June 30, 1896; -C. C. C. & St. L. is en• p. 368, 1116.) dorser on $200,000 P. & E. notes and holds $397,000 consols as Pennsylvania & North-western KK.-Owns Bellwood, Pa.., to security therefor-these in addition to the $8,103,000. See abstracts Horatio, 62 miles; total, inoluding branches, 75 miles. A consolidation of mortga,ges of 1890 in V. 51, p. 246 and of O. Ind. & Western mortgagA, V. 47, p. 201. Due lessee July 1, 1896, $1,007,833. Jan. 1, 1890, of the Bells Gap and Clearfield & Jefferson r oads. EARNINGS.-5 months, t 1897 ..•....•. Gross, $786,178; net, $189,405 DIVIDENDS.-In 1890, 5 p. c.; in '91, 5; in '92, 51.g; in '93, 6 p. c.; in July 1 to Nov. 30. 5'1896 ...•..... Gross, 682,856; net, 132,329 1894, Jan., 2 p. c.; in July none; in 1895, 2 p. c.; in 1896, none. s:[plus over 5 months' charges, $5,396 in 1897, against def. $51,660 BoNDs.-General 5s are held to retire prior issues when due. 19 EA.RNINGS.-Year ending Dec. 31, '96, gross, $482,113; net, $142,799 i nterest, tax es, etc., $138,603; balance, surplus, for y ea r , $ 4,196. In ANNUAL R EPORT.-For 1896·97 see lessee's report V. 65, p, 467. 1895 gross, $624,814; net, $190,681. (V. 59, p. 1008.) Year end. June 30. Gross. Net. Interest, etc. Balance • .p hk •- B t S L &N E RR 1896·7 .............. $ 1,631,103 $342,847 $141,620 def.$98,773 .--eon. ong • "' os on.- ee EHIGH EW NOLAND · 1895·6 .. ............ 1 ,902,235 457,900 441,620 sur.16,280 Peoria & Bureau Valley KK.-Peoria to Bureau Jun e., Ill. , 1-v. 61, p • .567,568", V. 63, p. 656. 47 miles. Leased in 1 854. t o Chicago Rock I sl a nd & P acific RR. for 1 $125,000 yearly, fr om w hic h dividends, u su ally 8 p er cent yearly, Peoria_& ~e~n Union Ky.-Owns P~kin to reorla, on bo!b ~ccasion ally m ore are paid. sides of Illinois River, a~d yards at and opposite Peoria. Mileag-e ~arn ' • track, 16·55; second mam track, 8·U2: total main track, 25·47 miles. Peoria Decatur & Evansville Ky.-Owns from Pekin to Evans Mileage of side and yard tracks, 47·62. Capital stock, $1,000,000. ville, 227 miles; branch, 6 mileR: Chicago & Ohio River Division, Sidell Owned by the Cleveland Cincinnati Chicago & St. Louis, Chicago to West Liberty, 78 miles (laid mostly "'1th iron rails); total owned, Peoria & St. Louis, Peoria Decatur & Evansville, Lake Erie & Western 311 mil es; joint track to Hervey City, 7 miles; leases, Pekin, m., to and Wabash RR. companies. E x tensive improvements and additions :Pboria, m, 10 miles; through Decatur 3 miles; t<>ta.l, 331 miles. to the property were mad e in 1896-double track, new shops, etc. HISTORY.-Company owns $250,000 Peoria & Pekin Union stock, OFFICERS.-C. H. Bosworth, Pres.; E. F. Osborn, Vice Pres.; F. L. bnt owner ship is iu litigation. The P. D. & E. own s $220,000 of t he Tompkins, Supt.; H.K. Pinkney, Bee. and Aud.; J . F. Keifer, Treas https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I I I I I ° .JA.NU .A:RW, 1898.j 113 RAILROAD STOCKS A.ND BONDS. Subscribers will con.Cera great Cavor by giving immediate notice of any error discovered in these Tables. Bonas-Prtno1INTEREST OR DIVIDENDS. RAILROADS . Miles Dato Size, or When Dne, Amount Rate per j When Where Payable, and by pal, of Par Outstanding Stocks-Last F or explanation of column headings, &c., see notes of Road. Bonds Value. Cent. Payable Whom. Dividend. on first page of tables. p e01'ia & St. Loitis-lst M., gold, $20,000 p. m ...... c* p ertciomen-lstM., ser. I (1st l'n) gold, gu. p. & i.c" 1st M., ser. 2 (2d l'n) gold, guar. p. & 1. (end.) .... c* p eterbo1· YUgh RR.-Stock (rental 4 per cent) ..... .. ...... . 38 38 p,etersburg-Stock .. ............... .................................... . 59 Guar. pref. stock, 3 per cent, lien prior to mortg . 59 Mortgage bonds, class A, gold .............................. 59 59 Mortiage bonds, class B, !old . ........................... . ..... p hil.& att.Cent.-lstM.$2, 00,000,$1,200,0004¼s 73 p hila. & Ohes. V.-lst M., ~f., old 5s , red. '96, g . . c* -... 1st m., old 4s, not pref., mt. reduced in '96, c* p 'hila. &Erie-Common stock ($10,000,000 aut or.) Preferred stock, 7 K,er cent, special. ....................... 287 General mort. , gol , guar. J? . & i. by Pa . RR .......... c 287 Gen. mort . , gol ear. p.&1 . ($5,263,000 are 5s) . r 287 p Jula. & Frankf"r -1st mort., $500,000, ~ld .... . c* . . .7 p kila. Germ. it Ohestnut Hill-1st M., gu. by a. Ry . r Consolidated mortgage, gold .. ............... . ................. c• p hila. Germ. & Norrist'n-Stock rental., P. & R. Ry. . 29 p hila. Harrisburg&Pittsburg-lst mort., gold . c*&r 44 hil Newtown&N Y-lst M. gold • c+ 22 I:liiiade'lphia & .B°eadi,11,g Ry.-siii .READiNG COM: p A !.. 1896 $100 1888 100 &c. 1888 1,000 ..... ---· issi 1881 1881 1888 1888 287 ..... i869 1869 1892 1883 1894 ..... 1890 1892 100 100 1,000 1,000 1,000 500 500 50 50 1,000 1,000 1,000 1,000 1,000 50 1,000 1,000 5 g . F. & A. 5 g. Q.-J. 5 g. Q.-J. 4 A. & 0 . 7inH97J. & J. 7in 1897 J. & J. 5 g . J. & J. 6 g. A. & 0. 4¼ &5 M.&N. 4 g. A. & 0. 3· g. A. & 0 . N. Y., Kniokerbock. Tr. Phila. R e adiug T e r.Bld. do do Nashua, N. H. · Richmond. do Richm'd and Petersb'g. do do Phila., Penn. RR. Co. Philadelphia. do do ........ Phila . , Broad St. Stat'n. Y.ea;iy . Phila., Broad St. Stat'n. do and London. J. & J . 6 4g.& g . A . & 0 . Phila .. Broad St. Stat'n. 5 g. F. & A. i:it. . Stat'n. 4¼ M. &N . Phila., 412g. M. & N . do do 12 Q . -M . Phila., 132 So. 3d St. 5 g . A&015 Phila. , Comp'y's office. 5 g. A & 0 Oct '97 coup n ot paid Ii. Br.oad Aug. 1, 1936 Ja11.. 1, 1918 Jan. 1, 1918 Oct., 'fl7, 2% Jan.3,'98,3¼6f J a n.3,'98,3¼% July 1, 1926 Oct. 1, 1926 Nov. 1, 1911 Apr. 1, 1938 Apr. 1, 1938 Moh . 1, 1894. Deo. 31, 1893 July 1, 1920 July 1, 1920 Aug. 1, 1922 May 1, 1913 Nov. 1, 1944 D e c. 4, '97 ,3Jg Oct. 15, 19 5 Oct 1 1942 NY. In 1895 paid dividend of 6 p.c.; in 1895.. 6 paid 6 p .'c On July 1, 1896, there were b ills payable $20,000; betterment account (debit) $394,659. Earnings for yea r ending June 30, 1896, gross, $67 L,934; net, $305, .. 290; charges, $27!,842 : dividends, 'B60,000; balance, deficit, $29,552. In 1894-5, gross, $604,558; net, $281,824. President, C. H. Boswortn. -v. 60, p. 521. Peoria &: St. Louis Ky.-Under construction from Springfield to Peoria. 50 miles. Incorporated July 24, 1896. First mortgage is for $1,100,000, bonds to be is sued at not ex ceeding $20,000 per mile. See V. 64, p. 755. Mortgage trustee, R obert Maclay , Reg istrar Knickerbocker Trust Co . , N. Y.; Preaident, L. H. Thomas, of Thomasville, Ill. -V . 63, p. 560; V. 64, p. 755. Perltlomen KK.-Owns from Perkiomen Junction, Pa., to Emaus Junction, Pa . , 39 miles. Stock subscription, $38,400.. Reorganized in 1887. There is due Phil. & Read. Ry. on lua.n accoum about $1,000,<100. [n year end. June 30, 1897, gross earnings were $260,366; n et, $93,7.38; interest, etc., $96,230; b al., deficit for year, $2,492. In 1895 ..96, gross, $289,289 ; net, $116,895. · Peterborouo-h KK.-Wilton to Greenfield, N. H., 1012 miles. Leased April 1, 'i>393, to Bos ton & Lowell for 93 years at 4 p. c. on stock and expenses. Capital stock $385.000. Petersburg KK.-Owns Petersburg, Va., to Garysburg, N. C., 59 miles, rents Garysburg to Weldon (Seaboard & Roanoke), 2 miles; total, 61. Reorganized in 1877 without foreclosure.. Atlantic Coast Line Co . owned $615,500 of the common s tock on June 1, 1897. Preferred stock is guaranteed 3 per cent yearly, then common receives 3 per cent, then both stocks share pro rata. Dividend on each stock in 1892, 6 per -cent; in 1893, 6 p. c.; in 1894, 512 p. c.; in '95, 6 p . c.; in 1896, 7 p. c.; tn 1897, 7 p. c . ; in 1898, Jan . , 312 p. c. EARNINGS . -5 months, l 1897 ......... .. ........ gross, $208 ,189; net, $95,417 July 1 to Nov . 30. 51896 . ........... . .... gross, 206,672; net, 8_9,279 ANNUAL REPORT.-Report for year endin~ June 30, 1897, in V. 65, p. 1111, showing gross earnings, $562 ,945 ; net, $ 249,040; other in-come, $5,722; interest charges, $94 ,400; div idends, $ 89,901; balance, ~urplus 1or year, $70,461. "In 1895 .. 96, g ross, $588,763; n et, $244,526. In 1894-95. gross, $512,986; net, $187,436.-lv. 59, p.1056; v. ~1. p. 1062; v. 63, p. 555; v. 65, p.1111.) Philadelphia &: Balthnore Central KK.-West Phila. to Octoraro Jc., Md., 63 miles; Wawa to West Chester, Pa., 9 m . (double tra.ck, 12 m.); branch. 1 m.; leased, Ch.3Sttlr Creek RR . , 7 m . Phila. Wilmington & 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 1896-97, gross earnings, $818,027; net, $109,613; int. on deposits, etc., $22,742; def. under charges, $3 4,18 5. In 1 8 95 .. 6, gross, $866,621; n et, $73,456.. In 1894.. 5, gross, $909,483; net, $150,789. Phlladelphla &: Cbe!olter Valley KK,-Road from Bridgeport to Downington, Pa., 22 miles. Chartered in 188d. Capital stock (par $50) Is, common, $ -5 50,000; pre fo rred, $205,100; total, $755,100, of which Reading Company owns $450,000 common and $205,100 pre .. terred, the same being deposited under its general mortgage of 1897. A 1 per cent reduction of inter est on e a ch cla ss of bonds was a"'reed to in December, 1896, by 96 p er cent in interest of the bondholdera. See V. 63, p. 1064. The Reading "Company" g u a rantees by endoroe.. ment principal and interest of the bonds, with interest reduced. EARNINGS.-For year ending June 30, 1 i96, gross, $53,092; net, $12,620; charges, $18,444; bal., def.,$5,824. In 1894.. 5,gross,$47,667; net, $2,1.286; charges, $21,041 ; balance, deficit, $18, 755.. In 1893.. 4, gross, ~46,683 ; deficit under opera.tin~, $6,317.-V. 63, p. 1064. Philadelphia &: Erle KR.-( See Map Pennsylvania RR . JRoAD-Owns Sunbury to Erie, Pa., 287 miles-double track, 78 miles . ORGANIZATION, LEASE, &c.-Formerly Sunbury & Erie.. Leased to Pennsylvania. RR. Co. for 999 years, and actual net receipts paid a.e rental. Pennsylvania RR. owned Dec.. 31, 1896, $3,501,800 common and $2,400,000 special stock and $3,946,000 general mortgage bond8, and city of Philadelphia (sinking fund) $2,250,000 common stock. Sunbury & Erie first 7s due Oct. 1, 1897 ($976,000), were paid and g eneral mortgage 4s issued. DIVIDENDS.-On CO".ll.mon in 1892, Mar., 2 p. c.; 1894, March, 2 p. c . EARNINGS.-11 months, l 1897 . .... Gross, $4,255 ,057; net, $1,'271,18 9 Jan . 1 to Nov. 30 51896 ...... Gross, 4,161,177; net, 1,215,007 ANNUAL REPORT . -Repor:t for 1896 was given in V. 64, p. 826, 371. Year end. Dec. 311896. 1895. 1894. 1893. Gross ear~gs ................ $4,512,511 $4,378,574 $3,965,196 $5,104,879 Total net mcome............. $1,231,996 $1,181,840 $1,020,411 $1,546,783 Interest on debt: ··· ......... $1,047,470 $1,047,4.70 $1,047,470 $1,042,470 Interest on special stock.. .. .. . .. . .. .. . .. .. .. .. . .. . .. 168 000 Interest on equipm't, &c.. 176,962 129,843 iis:fa4 128:827 Balance............................. sur.$7,564 sr.$4,527 df.$145,183 sr.$207,486 -(V. 62, p. 316; V. 64, p. 326, 3'11 , 954, ro43; V. 65, p . 572. Philadelphia &: F rankt"ord KK.-Owns from Crescentvil le to FrankfoEd, Pa. , 2 . 6 miles. Leas~ not assumed by Phila.. & Reading Ry. Of the. $ ,">00,000 ~tock $4()8,950 1s owned by Readin~ Company and deposited under its mortgage of 1896. Mortgage trustee is Guarantee Trust & Safe Deposit Co., Philaa delphia. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $20,000 799,600 1,125,000 385,000 960,800 323,500 894,000 800,000 2,200,000 280,500 100,000 7,985,000 2,400,000 8,680,000 11,14 3,000 497,000 1,000,000 263,000 2,246,900 500,000 1,408,000 Philadelphia Germantown&: Cl1estnut Hill KK.-In Phil adeJphia. from Germantown Junc.,on Connecting Railway, to Chestnut Hill, 7 miles; branches, 7 miles.. From May 1, 1883, lea.sod for 30 yea.rs to the Pennsylvania Railroad Co . , which guarantees principal and interest on the bonds, and Jan. 1, 1896, owned $1,262,750 of the $1,263,000 outstanding stock. 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, b a l., deficit, $48,880. (V. 59,p . 880.) Phlladel.J>hla Germanto-wn &: N orristo-wn KK,-Phlla., Pa., to Nornstown and Germantown, Pa., 2012 miles; second track, 20 miles; total track, 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 annum), but in March and September, 1893, only 212 p . c. each was paid on account of certain losses. Lease assumed in 1896 by Phila. & Reading Railway. PblJadelphia Harrisburg &: Pittsburg KK.-Owns trom 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, int .. rest on bonds, taxes and e x penses to the Philadelphia & Reading RR., which by endorsement on each guaranteed the bonds, principal and interest. Lease al!lsumed in 1897 by Philadelphia & R eading R,i,ilway.. Stock, $2,000,000 (par, $50), of which $1,995,000. along with $1,472,000 of the bonds are owned by the R eading Company and deposited under its general mort. gage of 1897. Mortgage is for $2,000,000. Phlladelphta Newto-wn &: Ne-w York KK,-ROAD-Phila delphia to Newtown, Pa., 21 miles; branch 1 mile. Opened in 1878 and w as operated in connection with Philadelphia & Reading, which gua ranteed the bond s , principal and interest, by endorsement. Capital stock, $1,600,000; par, $50 Of the bonds, $841:),100 (with coupons only partly paid-see V. 64, p. 331), are owned by the Reading Company and depos ited a s part security for its general mortgage of 1897. First mort . coupons due Oct. 1, 1897, w ere n ot paid.-V. 65, p. 685. Philadelphia&: Keadtng KK.-This railroad was foreclosed Sept. 23, 1896, a nd transferred to the Pl1ila. & Reading Raitway Co. The capital stock of the Railway Companv, as als o the stock or the Coa l & Iron Co., is held by the "Rea1ing- Company," whi oh has issued the new securities authorized by the plall of reorganization. Philadelphia & Keadlng Ky,-Tuis company was formed in 1896 to succeed to all tue r aUroa.d lines of the old Phila. & Reading RR. Co., for e clos ed. Its $20,000,000 stock anrt all the bonds issued under its $30,000,000 mort . of 1896 (only $20,000,000 issued in 1897) a.re deposited as part security for the mortgage of the "Reading Co." Philadelphia &: Reading 'l'ermlnal KK.-Owns terminal road, 1·3 miles, includin"' station at Twelfth and Ma rket Streets,Philadelphia; total sinale track, 5·7 miles. The capital srock is $8,500,000, aud $8,4..97 ,500 oF it is deposited as security for the Terminal bonds of the PhUa. & Rea din~ RR. (see R c:1 ading Company), which are also gu:uanteed by the Terminal Compan y, the latter having issued no bonds of its own-see full partioulars V. 64, p. 85. Philadelphia Reading & Ne-w England KR. -This company owns from Campbell Hall, crossino- the Hudson River at Poughkeepsie by its own bridge, to Silver.nails, 58 miles; and leases and controls Hartford & Conn. Western, Hartford to Rhinecliff 109 miles; total. 167 miles; also leases and controls Dutchess co.'RR., from Poughkeepsie to Hopewell Juno., 12 miles; trackage, 1 mile. RECEIVERSHIP, &c.-Road was controlled and operated by Phila. & Reading, but the guaranteed interest due May 1 and August 1, 1893 was not paid, and on Au~. 19, 1893, J. K . 0. Sherwood was appointed receiver. Interest on Dutchess Co. RR. firsts paid regularly to December, 1897, ~nclusive, b~t a r c:1 duction of interest h a s b een suggested, a nd tlle Wilson Committee oppose further payment or t his interest.V. 66, p. 135 . BONDHOLDERS' CO:.\DUTTEE.-Cha irman, G. A. Fletcher; H. L. Davis, C. Tower, Jr., H. M. Janney, J . W. Hamer, H. H erbert Piggott, Arthur Brock, Lebanon; H . 0. Seixas, New York.-V. 64, p. 235. lfIRST ¥C?RTGAGE Coi\rn:ITTEE. -John s. Wilson. Chairman, John Sailer, Wilham H. Jenks, Joseph Moore , Jr., and H arry A. Berwind; o dice 260 ;Bullltt ~uilding-, Philadelphia. Depositary, Girard L. I. T. & A. Co., Philadelphia-see V. 64, p 84,181; V. 66, p. Vl5. i::!TOCK-Common is $4,600,000; preferred, $2,000,000. BONDS.-Both the mortgages (Guarantee Trust & Safe Deposit Co., Phila ., trustee) cover $1,390,000 Hartford & Conn. Western stock, etc. Loans and bil 's p~yableJune 30, 1897, $350,000; open accounts payable $414,307; cash on hand, $52,573; open a ccounts, etc., $125,987. LATEST EARNINGS-5 mos., ~ 1897..... Gross, $319,027; net, $122,584 July 1 to Nov. 30. \ 1896 ..... Gross, 304,490; net, 83,253 For years ending June 30 earnings hav e been as follows: Year to Jun e 30Gross. N et. Charges.* Balance. 1896..7 .............................. $647,475 $195,178 $141,044 sur.$54,134 1895.. 6 . .......... . ............. 746,569 200,674 140,544 sur. 60,130 1891.. 5 ................. . .................. 724,114 201,661 168,l44 sur. 33,517 * NOTE.-Charges do not include any bond interest. (V. 64, p . 84, 181,235,423, 1001; V. 65. p. 365; V. 66, p. 135.) • INVESTORS' SUPPLE){ENT. 114 GR ... M.0 [VOL LX.H, TRUNK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE PITTSBURG, BESSEMER AND LAKE ERIE RAILROAD CO ~EQTIONS. RAILROAD STOCKS AND BOND& JANUARY, 1898,J 113 Subscribers -will confer a great favor by giving Immediate notice of' any error discovered in these 'l'able•. I . RAILROADS. Mil D te INTEREST OR DIVIDENDS. 1.l$~iut,sWh·-..t'rDmo18 1ze, or ea a Amount ,- - - - - - - - - - - - - - - - - pa1, en u For explanation of column heailinga, &c., see notes of of Par Outatanrung Rat.- per When \Where Payable, and by Stocks-Last :in first page of tables. Road. Bonda Value. ,______ , Cent. Payable Whom. Dividend. P/1.il.Read.tf~ewEnq.-laJM.,gold,guar.(end.~.c: Do (4 p.c.till Sept. 95; amce 5 p.c.J ~uar.p. & 1.c Do 5 percents (See text) gold, guar. p. & i...... Inc. M, non·CU., Ser.A,$1750,000;B,$2100,000.c~ Dutchess Co.RR.lat M., gold,guar.P.R.&N.E.o* .Phila. <1; Trenton-Stock 10 p, c. rental, Penn RR.. iPhiladelphia Wilmington if Baltimore-Stock....... 58 58 58 58 12 27 Pla.iD bonds, a. fund$16,000 yearly,notdrawn .. r Plain bonda,a. fund$20,000 yearly,not drawn .. r Plain bonds ........................................ r Plain bonds ....... ................... .......... .... r ~1::~g~tJ~lL::::::::::::::::::::::::::::::::~ l'iedmont if Oumberland-Stock................. .... lstmortgage, gold ............................... c* Ptne Oreek-lat M., guar. pri'.n. and interest (end.)r 2d mortgage .....................................•. r .Pittsburg Bessemer <1; L. E.-Stock, $10,000,000. .. Pittab. Shen. & Lake Erie, lat mort., gold ...•. c'" Consol. lat mortgage, for $4,800,000, gold .. c* Pittsb. 13. & L. E., consol. M., $10,000,000, g . . o* Pittsbu,·gOhartie1·s <1; Youg/t'y-Stock, $1,000,000.. . . .. 29 75 75 ii,i 151 193 . ... 1892 $1,000 $3,750,000 4 g. F. & A. Feb.,'93, coup.laatpd. Nov. 1, 19•~ 1892 1,000 2,500,000 4·5g. M. & N. 1Nov., '92, coup. last pd. Nov. 1, 1942 1892 As collateral 5 g. M. & N.INov., '92, coup. last pd. Nov. 1, 19t2 1892 3,850,000 5 g. Oct. l None paid. Oct. 1, 1952 1890 1,000 350,000 6 g. J, & D. N. Y. Chase Nat. Bank. June 1, H)4o 100 See text. 10 Q.-J. Phila.,Company'aOfflce Jan., '98,2¼¾ 50 11,819,350 7 in 1897 J. & J. IPhila., Broad St. Stat'n Jan. 3, '98, 4% i875 1,000 800,000 6 A. & O. Phil.Of.;Boat.,Kid.Peab Apr. 1, 1900 1880 1,000 1,000,000 5 J. & D. do do June 1, 1910 1887 1,000 1,000,000 4 A. & O. do do Apr. 1, 1917 1887 1,000 1,000,000 4 M. & N. Philad Broad St. Stat'n Nov. 1, 1922 i:o·oo ~~~~ . ... i e~1:°~tti~B&<i,ooo:goi<i;gii:i,:&C{enii.i·seetext. i~ f~t~ St. Louis-Pref. at'k 1.090 8 f'ittsburg Oincinnati Ohicago <1; Col. &Ind. Cent. latM. (Colum. to Ind. & br.).o* Col. & Indianapolis Central 2d mortgage ..... o* { Union & Loganap'tlstM.(U'nCitytoLogans.)o* Chio. St. L. & Pitta. cons. M. ($22,000,000) g ... c&r Jeft'nville, Mad. & In. 1st M. (a. t. drawn at 110).o 2d mort., Je1feraonv., Ky., to Inilianap. & br'h.c SSteub. & Ind., lat mortgage, extended in 1884.r ) Pitts. C. & At. L .. lRt conaol. mortgage ... ... . c&r 208 208 93 580 222 222 116 216 t888 1,is8:888 t 1: i. i t: 650,000 212 in '97 March 50 1,000 1,000 1,000 50 i890 1,000 1893 1,000 1897 1,000 50 50 1886 1885 1887 1864 1864 1865 1883 1866 1870 1864 1868 1~0~8· 100 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 Philadelphia & Trenton KK.-Phila. (Kensington), Pa., to Morrisville, Pa., 23 miles, mostly four·tracked, and brancn 3 miles. On iDeo. 1, 1871, leased, with the United Cos. of N. J., for 999 years to the Penn. RR. at 10 p. c. on $494, too stock, the total issue being $1,259,· 100, the balance being owned by the United RR. of N. J. Philadelphia Wibnington &; Baltilnore KR.-( See W"ap Penn. RR.J-Operatea from Philadelphia to Washington, D. C., and from Wilcnington, Del., to Delmar, Del., with branches as follows: Tunes ownedMiles. Delaware RR. ,r ..... ... ...... ... 117 Philadelphia to Baltimore ... .. 95 Delaware Md. & Va. ,r.......... 98 (all double track.) Baltimore & Potomac ,i .•••.••• .97 BrancheatoDelawareCity,etc. 22 0therlines (6) .................. 160 Lines controlled, leased, etc.Philadelphia & Balt. Central1f. 80 Total m see this company) ... 669 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 & Kent, South Cheater & Un. RR. of Baltimore, etc. DIVIDENDS. S 1868·87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 Per cent. ( 8 yearly. 7 7 6 6 7 712 7 612 7 7 below. In 1898, Jan., 4 p. c. BONDS.-All to be s1eoured by any future mortgage. See description ,on page 4, SUPPLEMENT of April, 1895. Mortgages and ground rents Nov. 1, 1897, $164,002. EARNINGS-I month,} 1897 .......... Gross, $'753,859; net, $226,64P Nov. 1 to Nov. 30. ?. 1896 .......... Gross, 672,259; net, 195,749 ANNUAL REPORT.-Year ends Oct. 31. Report for 1S95•96 was given in v. 64, p. 178. For 1,..96·7, gross, $~.71H,43o; net, $2,387,231; other income, $459,460; interest, taxes, rentals, etc., $1,745,733; divi• denda, $8~.l7,354; bal., surplus for year, $273,60-!. In 1895·96, gross, $9,047,131; net, $2,353,123; other income, $550,927. In 1894·95 gross, $fl,142,532; net, $2,615,642. In 1893·94 l!rosa, $8,695,959; net, $2,346,627.-(V. 58, p. l '7'7; V. 60, p. 131, 34'7; V. 62, p. 139,229; v. 64, p. l '78. 1000.) Pledm.ont & Cumberland Ky.-Road from Piedmont, West Va., to Cumberland, Md., 29 miles. In February, 1894, the road was leased to the West Virginia Cent. & Pittab. RR. till Aug. 1, 1911, for 37 per cent of gross earns. Penn. RR. Co. on Dec. 31, 1894, owned $200,000 of th_e $650,000 stock-par $~0. First div., 5 p. c.,. paid m Ma10h, 1894; m 1895, March, 6 p. c.; m 1896, Feb., 6 p. c.; lil 1897, March, 212 pn cent. For year 1894-95 profit to lessee, $20,289; in 1895·96, $10,633. Pine Creek. Ky.-Owna Stokesdale Junction to Newberry June• lilon, Pa., on the Fall Brook Road, 75 miles. ORGANIZATION.-N. Y. Central controls the capital stock and the road is leased to the Fall Brook Railway Co., forming a connectfan between the Central and the Philadelphia & Reading. The lat mortgage is guaranteed by the Central, tbe Reading and the Corning Cowanesque & Antrim (now Fall Brook Ry. Co,) jointly and severally. See form of guaranty, V. 56, p. 650. Stock, $1,000,000 (par,$50), of which July 1, 1896, N. Y. Central owned $999,000. EARNINGB,-Year ends June 30. In 1895·6 rental (30 p. c. of gross) was $298,265. (V. 59, p. 376.) .Plttsbur:?; A.kron & Western.-SEE NORTHERN OHIO RY. Pittsburg Besse1ner & Lake Erie KK.-(See Map.)-Owna line oomplett1d in August, 1897, from Bessemer, near Pittsbur~, Pa., to Conneaut Harbor on Lake Erie, and Wallace Junction, Pa., 163 miles; terminal in Erie, etc., Pa., 2 miles; branobes, 28 miles; leaaeia Meadville Conneaut Lake & Linesville RR., Linesville to Meadville, 23 miles; trackage, N. Y. Chio. & St. L., to Erie, 12 miles; total, 22a miles. ORGANIZATION, ETC.-A consolidation Jan. 14, 1897, of the Pittsburg Shenango & J,ake Erie and the Butler & PittRburg (organized to build the 42 miles from t:Sutler to Pittsburg), whoai> stocks were exchanged dollar for dollar for the stock of the new company <$i,40o.ooo new oonaola being a..tao given in part consideration for Butler & Pitt burg stock). Will carry iron ore south and coal north, its contracts with the Carnt-gie St, el Works and others, it is said, insuring it a ton1ta~e of 4,000,000 tons annually. Rails 100 pounds, maximum grades ;:s0 feet. See further particulars V. 63, p. 1159; v. 65, p. 152. The United States & uutario Steam Navigation Co. organized by tb.e P. S. & L. E. runs bo ... ts for coal transfer, etc., between Conneaut and Port Dover, Can., 60 milt->S, See V. 60, p. 872, V. 61, p. 241,795. STOCK,-Capital stock is $10,000,000; -pa.r $50. BONDS.-The old fl.rat mortgage of $3,000,000 covers th~ line from Butler to Wallace Junction, 106 miles, and branches 28 miles. The P. B. & L. E. mortgage of 1897 is for $LU,000,000 (truistee United States Trust Co., N. Y.), covering all the railroad, propei·ty, rights and franchises of the consolidated company, including the a_greeruent with the Carnegie Steel Co., Limited, c~nd tb.e Union RR. Co. Of the new bonds $4,800,000 will be reserved to retire at or before maturit:, a like a.mount of bonds outsta11rling on the Pittsburg Sbenango & Lake Erie, and $1,400.000. with int1·rest accruing froru Au/lllst 1, 1897, will be issued m pa.rt pa , ment to the stockholders of the Butler & Pittsburg. The rewainder of the new loan will be applicahle to the "~orpor~te purposes'' of the new company. Car trusts June 30, 1895, $292,585. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 650,000 3,500,000 5,000 10,000,000 3,000,000 523,000 2,663,000 700,000 11 ~~g:888 22,659,110 2,631,000 780,000 715,000 1,506,000 1,824,000 1,995,000 3,000,000 6.RR8.000 dg ag i~t i: t~:: .... ...... Mar.1'97,212% 5 g. F. & A. Baltim.,Hambleton&Co Aug. 1 , 1911 6 J. & D. N. Y. Gd. Cent. Station. Dec. 1, 1932 6 J. & D. do do Dec. l, 1932 5 g. 5 g. 5 g. in '96 6 4 g. .... .. 7 7 7 5 g. 7 7 5 7 A:·&··o. Oci."1,""fa40 July 1, 1943 Jan. 1, 1947 Oct. 26,'96, 4% Pittsburg, Office. Feb. 1, 1902 do do Apr. 1, 1932 N.Y.,Farmers' L'n& Tr. Jan. 27, 1896 N. Y., Union Trust Co. Nor., 1904 do do Nov-., 1904 do do Deo., 1905 d~ do Oct. 1, 1932 N.Y.,Farmers'L'n&Tr. Oct. 1, 1906 do do July 1, 1910 N. Y., Nat'l City Bank. Jan. 1, 1914 F. & A. Phil::!... B1·0::irl St.Qfation1 4nv 1 Hl00 J. & J. J. & J. .. ... F. & A. A. & 0. . . .. . J. & J. M. & N. A. & 0. A. & 0. A. & 0. J. & J. J. & J. N. Y. CentraiT.ruat Co. do do N. Y., U. S. Trust Co. EARNINGS.-Jan. 1 to Dec. 31 (12 months), gross, $64t,593 in 1897, $639.512 in 1896. Of old company (on 187 miles) for yeir end. June 30, t896, gross, $658,079; net, $189,739; other rncome, $1,745; 1·hargea, $172,749; balance, surplus, $18,735. ln 1894·95, ~osa, $567,718; net, $156,926. In 1893·94, gross, $476,651; net, $165,134. Cl•a.lrman of the Board, Col. S. B. Dick, Meadville, Pa. (V. 62, p. 1140; V. 63, p. 116, 1159; V. 64, p. 135, 800, 1042; V. 6_5, p. 152, 621.) Pittsburg Chartiers & Yonghiog.,uy Ky.-Owna from Char• tiers Go Beeclimont, 16 m. ; trackage (Chartiers Ry./, 1 m. ; 17 miles in all. STOCK authorized, $1,000,000; par, $50; outstanru,ug, $700,000, owned jointly oy puarantora mentioned below. DIVIDl!NDs-In 1895 4 per cent; in 1896, 11 per cent; in 1897, none. Of the 4 per cents issued, or to be issued, one·half are to be endorsed with the guaranty of the Pittsburg Cincinnati Chicago & St. Louis, the other half with the guaranty of the Pittsburg & Lake Erie. See guaranty, V. 56, p. 650. They are not auhject to call. EARNINGS in year ending Dec. 31, t896, gross, $197,849; net, $l01,354; rental Cbartlera Ry., $2,973; interest, $33,960; bal. over int., $64,421; dividends (11 p. o.) $77.000. balance, def. for year, $12,579. In 1895 gross, $162,850; net, $63,123' {-ittsburg Cincinnati Chicago & St. Louis Ky.-(&eMap.)_: The system, clearly seen on adjoining map, includes: . Unes owned. Miles. Lines leas'd(,TSee these oo•a:) Miles. Pittsburg.Pa., to Chicago,m. 504 ,I Chartiers.................... 23 Rendcomb Jo. to Anoka Jc... 166 1/"Llttle Miami.... .... .... . .. 192 Bradford Jc. to Indianapolis. 104 Cincinnati Street Con. Ry... 3 Indianapolis to Jeffersonville 108 Pitta. Wheel:i.ng & Ky........ 28 Branches .....•............... 208 Eng. Connecting Ry. in Chio. 2 Other lines.................... 5 Total owned ...•............ 1,090 Leased jointly with T. H. if 1. Trackage,rst. Louis Vandalia & T. H... 158 fndianapolia to Kokomo. . . . . 5 51 Louisville Bridge, etc......... Total ot all Jan. 1, 1897 ... 1,561 5 ORGANIZATION, &c.-Formed in 1890 by consolidation (per terms in V. 50, p. 875) of Chicago St. Louis & Pittsburg, Jeffersonville Madison & Indianapolis, Cincinnati & Richmond and Pittsburg Cin. & St. L. Con• trolled by Pennayl vania 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. Outatanrung Oct. 31, 1897. com• mon, $24,422,377 ; preferred, $22,659,110. Stock listed to Jan. 17, 1898, common, $24,347,100; preferred, $22,649,200. The preferred. stock is "non•cumulative and entitled to a dlvidend of 4 per cent per annum out of the net earnings as declared by the Board, with the right after 3 per cent has been declared on the common to an additional 1 per cent, making 5 per cent in all." After 5 per cent on both common and preferred, the two share pro rata. DIVIDENDS.- c 1891. 1892 to Apr., '94. Jan., 1896. None ' On pref. p. c.- 5 3 4 yearly. 2 (for '95.) since. STOCK OF OLD COMPANIES unexchanged Oct. 31, 1897: Pittab. Cin. & St. L. common, $46,550, Chio. St. Louis & Pittab., common, $529,· 617, and preferred, $12,152; Steubenville & Indiana, common, $85,945. and preferred, $2,950; Jeff. M. & I. $5,400. BoNDs.-'l'he consolidated mortgage for $75,000,000 (Farmers' Loan & Trust Co.of N.Y. and W.N.Jaokaon, trustees,) covers the entire property. Sufficient conaola are reserved :&or the purpose of retiring all sec• tional 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• aylvania Company, in accordance with the vote of its Board ot Direct· ors, and are so endorsed. The three series are all equally secured. See adv . CHRONICLE May 21, 1892, and guaranty, V. 56, p. 604. In addition to bonds given outstanding in table above, the sinking fo.nda held Oct. 3 L, 1897, J.M. & Ind. first 7a for $898,000 and P. V. C. °' St. L. aeries D !or $137,000. Gl:CNERAL FIN.ANCES.-There are 4 per cent car trusts for $61,280 due at various dates. In ~ovember, 1894. $4,811,000 conaola were authorized, of which $3,862,000 were issued to Pennsylvania Co. for aavancea. V. 59, p. 969. In November, 1895, aeries "D" bonds for $8,000,000 were created and series "C" bonds for $4,818,000,previoualy reported outstanding, were canceled. Serie~ "D" bonds for $4,863,000 had been listed on N. Y. Stock Exchange to Oct., 1897.-V. 63, p. 1064. LATEST EARNINGS.-For 12 months ending Dec. 31: 12 months. Gross. Net. Oharges. Balance. 11<97 ........ $15,149,793 $4,880,110 $3,466,861 $1,413,249 1896........ 14,439,029 3,850,050 3,420,~01 429,149 ANNUAL REPORT.-Fiacal year ends Dec. 31. Report for 1896 was given in full in V. 64, p. 796, 801; see also remarks p. 775. Year ending Dec. 31. 1896. 1895. 1894. Miles operated (system proper) 1,151 1,151 1,150 Gross earnings ...............•.. $14,370,362 $15,439,706 $14,247,855 Operating expenses ............ 10,588,979 11,248,545 10,765,519 I Net earning&................ $3,781,383 N"et revenut1 of other roads.... $734,483 Miscellaneous . . . . . . . . . • . . . . . . . . 68,667 $4,191,161 $783,032 43,665 $3,482,336 $472,200 16,023 Total netearnings ... ·-···-· $4,584.533 $5,017,858 $3,970,559 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PITTSBURGH, CINCINNATI, CHICAGO & ST. LOUIS RAILWAY. JANUARY, 1 98.] RAILROAD STOOKS AND BONDS. 117 Sub8cribers -will conCer a great Cavor by giving i.nunediate notice oC any error dl8covered in the8e Table8. J:Jonas-.t:rml iINTEREST OR DIVIDENDS. RAILROADS. si~or Ou~~~g Rate per When Where Payable, and by For explanation of column headings, &c., see noteil ~es Dividend. Whom. Road. Bonds Value. ,- - - - - Cent. Pay~ble on first page of tables. D:r P~}~':l~f~:- r"" 1890 $1,000 $10,000,000 4½ g. A. & 0 . N.Y.,Farmers' L'n & Tr. Oct. 1, 1940 A," g.c-r Apr. 1, 1942 do 1892 1,000 10,000,000 do 412 g. A. & 0. B," g.c* 1 090 Con. M., $75,000,000, gold, guar. p.&_i. Nov. 1, 1942 1,000 do 1892 do 412 g. M. & N. 2,000,000 (end.) by Pennsylvania Company... " C," g.c* ' } Nov. 1, 1945 "lJ," g.c* do do 4 g. M. & N. 5,863,000 1895 ······ 1,000 77 1882 6 g. A. & 0. N. Y., Cent. Trust Co. Oct. 1, 1922 2,400,000 Pittsb. Oleve. & Toledo-lstM., gold, int. guar. B.&O.. Aug. 1, 1945 1,000 412 g. F. & A. Pledged. 1st consol. M., $4,000,000, gold, int., guar ..... c* .... 1895 100 19,714,286 .... Q.-J. N. Y., Winslow,L. &Co. Jan.4,'98,ll\1% 7 Pittsb.Ft. Wayne& 0.-Gen. stk., 7 p. c. guar. Pa. RR. 470 Jan.3,'9 8,134% 100 19,161,000 do do Q.-J. 7 Guaranteed special imp. stock, 7 p. c. guar. by end 470 1871 July 1, 1912 do do Various 7 5,250,000 1st mortgage, series A to F ( Sink. fund, cumula- c 468 1862 500 &c. July 1, 1912 do do Various 7 5,160,000 seriesGtoM5 tive, notdrawn.o* 5 468 1862 500 &c. do 2d July 1. 1912 do do A. & 0. 7 3d mortgage........................................ 468 1862 500 &c. 2,000,000 Sep.1.'97,1111% 50 .... ...•••. ••. Pittsburg Junction-Stock, common................. . ... 960,000 3 in 1897 1M. & S. Oct., '97, 312% 50 October 7 Preferred ($480,000), 7 per cent, cumulative..... . .. . 480,000 8 iss·2 1,000 6 g. J. & J. N.Y.,N.CityBk. &Pitts. July 1, 1922 1,640,000 1st mortgage, $1,640,000 gold .................. o~ July 1, 1922 1,000 do do 5 g. J. & J. 2d mortgage, for $500,000, gold ................ c* .... 1894 300,000 Oct. 1, 1907 • ••• Pittsburg. g. A . .& 0. 500,000 .Pitts. June. Terminal 1st M., gold, guar. p. & 1. •• • • • . ···50 4,000,000 10 in5 '97 F. & A. Pittsburg, Co.'s Office. J'ly 31,'97,5% Pi,ttsburg & Lake Erie-Stock ....................... . Jan. 1, 1928 1,000 do do 6 g. J. & J. 1st mortgage, gold .......................•........ o · -.-;i iS78 2,000,000 1,000 71 1889 5 g. A. & 0. N. Y., Security & Tr. Co. Jan. 1. 1928 2,000,000 ~d mortgage, gold, Series A. & B ................. c 50 J. & J. N. Y., Union Trust Co. Jan., '98, 3% 6 Pi,ttsburg McK. & .Yough.-Stock guar., see text..... . • . . 1884 3,959,650 7 5 1882 July 1, 1932 S.c &M. S. 1,000 do andL. E. do &L. byP. guar. J. & J. 6 1st mortgage, 2,250,000 57 1884 - 1,000 July 1, 1934. do do J. & J. 6 2dM.,gu.p.&i.(end.)byP.&L.E.andL.S.&M.S.c 900,000 July 1, 1918 Tr.Co. 1,000 Fidelity 1888 28 Pittsb'g, 6 g. J. & J. 600,000 McKeesport & Belle Vernon, 1st M., gold, assumed 1,000 15 1890 Oct. 11 1920 5 g. A. & 0. Phila., Broad St. Sta Pi,tts. Ohio Val. & Oin.-lst M. gold, s. f. not drn.c* 300,000 63 1886 1,000 5 g. J. & J. N. Y., Mercantile Tr. Co. July 1., 1916 Pi,ttsb. Painesville& Fai1'p01·t-lat M.t...~old, int. gu.c* 1,000,000 1,000 July, 1916 do do J. & J. 5 Terminal mort., interest guar. by Y1ttsb. & West. . . . . 1889 250,000 Pittsburg Shenango ,I; L. E.-See PITTSBURG BE SE MER & LAKE ERIE, .... 77 50 Philadelphia Office. Nov.1'97,212%, Pittsburg Vi1•ginia& Charleston-Stock ($6,000,000) 3,770,450 5in 1897 ..... Apr. 1, 1925 1,000 do do 77 1895 412 g. A. & 0. 3,431,000 Cons. M., lbs. f., not dr'n, series A, ..... ... GP c" (1) Pi,ttsburg & western-Rec'ra ctfs. (2d ser.) $400,000 .• . . . ..7.. J ...&..D. Allegheny,Pa.,lstN.Bk. Jfut:·:_77898 3 0 iS78 100· ·&c. 219,000 1st mort., Pittsburg Newcastle & Lake Erie...... 45 1880 500 &c. A. & O. N. Y.,J.P.Morgan&Co. Oct. 15, 1900 6 81,000 Old Pittsburg & Western 1st mortgage........... Julv l. 191 'I do do 9,700.000 4 i;c. J. & J. 1st (consol.) mortgage for $10,000,000, gold. ... c* 210 1887 1,000 Pittsburg Oin. Ohic. & St. L.-( Oon.)- 1 1896. Interest on bonds ...•..........• $2,507,977 Rentals paid ................... . 1,160,189 34,159 Car trusts (including interest). 197,738 St. L. V. & T. H. 0 7 of loss .... . 255,320 Miscellaneom, .................. . K. & H. Bridge suit, etc .•.....• 1895. $2,522,130 1,161,913 36,460 222,085 52,375 284,525 1894. $2,407,582 813,838 38,762 59,456 15,428 $635,493 $738,370 $429,150 Balance, surplus................ None. (2%) $452,716 (2)$459,497 Dividends on preferred.... ..... -(V. 63, p. 1011, 1064; V. 64, p. 181,775,796,801; V. 65, p. 824. Pitt8burg Oleveland & Toledo KK.-From N ewcastleJunction, Pa...,_ to Akron, O., 77 miles. Stock, $3,000,000 (par$50), of which Balt. & uhio RR. owns $1,505,000. Leased in July, 1884, for 99 years to Pittsburg & Western. The Baltimore & Ohio guarantees interest on the firsts. (See terms in V. 39, p. 607, and description of mortgage, etc., p. 7 SUPPLEMENT of April, 1 96.) Intere ton the 1st consol. mortgage 4~ sis guaranteed by endorsement by the Pittsburg & Western and the Baltimore & Ohio; mortgage trustee is Mercantile Trust Co., N. Y. Interest due Oct. 1. 1897, was paid on that date EA.RNINGS.-ln year ending June 30, 1897, gross, $755,231; net. $259,976; interest. taxes, etc., $202,787; account of previous year, $28,907; bala.nce, snrplus due lessor, $28,282. In 1895·96, gross, $897,228; net, $296,320. (V. 63, p. 1111; v. 65, p. 1169.) Pittsburg & Eastern KK.-Under construction from Mehaffey, Pa., on the Beech Creek RR., through the coal district to Saltsburg, Indiana County, Pa., 65 miles. In October, 1897, complete 1 and opened from Beech Cr. June. to Fuller Run, 11 mlles. The road is pro· jected to enter Pittsburg over the Pittsburg McKeesport & Youghio· gheny RR., total about 150 miles. f!apital stock authorized is $5,000,000; par $50. Road is being brnlt with cash, from stock, which is being issued a1:1 required. President, C. C. Watt; Treasurer, L. V. Biggs; office, Bullitt Building, Philadelphia. See V. 60, p. 1010; V. 61, p. 153. Pittsburg Fort Wayne & Ohlcacro Ry.-(SeeMapPenn.RR.)Ro.A.D.-Owna from Pittsburg, Pa., to c'hicago, ill., and br., 470 miles. Double track, 271 miles, of which part was built in 1893. LE.A.SE, &c.-Foreclosed Oct. 24, 1861, and reorganized. From July 1, 1869, leased in perpetuity to the Penn. RR.; rental pays in· terest, sinking fund of debt and 7 per cent on stock. The lessee keepa road in repair and pay taxes and expenses. C.A.PIT.A.L STOCK.-The special improvement stock is issued to Penn· eylvania RR. for improvements, &c., under article 16 of lease, which provides that the lessor may issue special bonds or stock. See V. 50, p. 139, and wording of endorsement in V. 56, p. 774. The special stock is in all respects subject to the general or prior stock and •·to the rights ot ho lders of aid general or prior stock to have distributed to them in quarterly instalments an annual dividend fund of $1,380,000 free of all taxes." 81nce Jan. 1, 1891, guaranteed special stock has been issued for betterments; m 1892, $2,107,820; in 1893, $1,916,253; in 1894, $1,916,200; m 1895, none; in 1896, none; in 1897 (July), $283,691. In September, 1897, was created an authorizt,d issue of $20,000,000 Pennsylvania Company Trust certificates (guar. by Penn. RR.) secured by special improvement stock. (See V. 65, p. 368.) BoNDs.-The first mortgage is in series of $875,000 each and second mortgage of $860,000. Of the above 1st mortg-age bonds, $3,361,641, and of the second mortgage $3,646,103, and $2,737,988 cash, were held ln the sinking funds Jan. 1, 1897. AVNU.A.L REPORT.-Report for year ending Dec. 31, 1896, was in V. 65, p. 25, showing loss to lesc.ee, $587,097; $57,743 loss in 1895; $1,· 281,659 loss ln 1894.-(V. 65, p. 25, 112.) Pitt8burg .Tunction KK.-Owns 634 miles of tracks at Pittsburg, Penn., connecting the Baltimore & Ohio and the Pittsburg & Western, which con;panies in 1882 agreed to pay the Pittsburg Junction $2 for each car passing over its road, but charge rElducerl to $1 ·50 per car when the company's gross earnings amount to $270,000 a.nd to $1 per car when gross rea<'.hes $300,000 in any one year. In 189596, gross, $373,219; net, $20~537. In 1894-95, II.TOSS, $347,807; net, $213,343; interest and taxes, :ul7,485; surplus, $95,858. In 1893-94, gross, $270,620; net. $;J.. 78,083. Divid~nds of 7 per cen~ are pa_id on preferred; on common m 1895, 4 p. c.; m 1896, 312 p. c.; m 1897, Mar., 112 p. c.; Sept., 112 p. c. (V. 61, p. 753; V. 63, p. 29.) Pitt8burg & Lake Erie KK.-Owns from Pittsburg, Pa., to Youngstown1.0., 68 miles; branch lines to Newcastle, Pa., 3 miles; total owned, 71 nwes (of which 66 double track); leases Pitts. McKeesport & Yough. (which see), 100 miles: Mahoninf~ State Line RR., 3 miles, and Beaver & Ellwood RR., 3 miles ; tota operated, 177 miles. Owns $350,000 stock of Pitts. Chartiers & Yough. P. & L. E. is operated in interest of L. S. & Mich. So., which owns $2,000,050 of stock. Real estate mort. Dec. 31, 1897, $220,500. DIVIDENDS.- 51884-'91. 1892. 1893. 1894. 1895. 1896. 1897. 10 10 10 10 10 8 Per cent. ( 6 yearly. ANNUAL REPORT.-For year ending Dec. 31, 1896, gross, $4,501,421; net, $1,384,081; other income, $39,500; interest, $220,000; rental, $470,109; interest on real estate mortgages, $21,441 ; dividend (10 p. c.), $400,000; bal., surplnR, $312,031. ln 1895, gro s, $4,704,856; net, $1,374,759.-(V. 6!, p. 230.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pitt8bur~ 1'IcKee8port & Youghlogheny KK.-Owns from Pitts. ~o N. Haven, Pa., 57 m.; McKeesport to Fayette City, Pa., 31 m.; branches, 11 m.; leases 2 m.; D ec. 31, 1897, total, 100 miles, of which 20 miles double track. LE.A.SE.-Leased to Pittsburg & Lake Erie RR. for 999 years. Renta ls 6 per cent on the stock, principal and interest of the Pittsburg McK. & Yough. bonds being guaranteed by Pittsburg & Lake Erie and Lake Shore & Michi~an Southern companies, the guaranties being endorsed on the share certificates and bonds. The guaranty of the stock is on the express condition that the holder shall accept par for the same on July 1, 193-!. See wording of guaranty in V. ~6, p. 774. Stock authorized,. $4,000,000; first mtge. bonds authorized, $2,250,000; 2d mtge. bonds authorized, $1,750,000. Profit to lessee in 1896, $2,905, of which one•half was payable to the Lake Shore & Michigan Southern. Pittsburg Ohlo Valley & Olncinnatl KK.-Owns road Bell aire, 0., to Powhatan, 0., 15 miles. Operated for cost by Pennsylvania. Company in connection with Cleveland & Pittsburg since Dec. 1, 1892. Stock, authorized, $1,500,000; outstanding, $300,000; par, $50. Trustee of mortgage (for $1,500,000), Fidelity Ins., etc., Co. of Phila. Year ending Dec. 31, 1896, gros11, $3,307; tier. under oper. exp., $14,212; interest, $15,000; def. for year, $29,212. Pittsburg Painesville & Fairport RK.-Owns Fairport, O. to Youn~stown, etc., 0., 53 miles. Operated at cost by P~ttsburg & Western, butmterestof bonds is guaranteed. See description or mortgage, etc., p. 7, SUPPLEMENT of April, 1896. Common stock, $800,000; preferred, $250,000 (par, $100), of which in 1892 the Pittsburg & Western purchased all the common and $160,000 yref~rred. For year ending June 30, 1897, gross, $349,912: net, 66,088; mt., taxes, etc., $84,695; balance, deficit tdue leEsee), $18,108. In 1895·96, gross,$ 377,296; net. $67,557. In 1894·95, gross, $370,181. (V. 65, p. 1169.) Pittsburg Shenango & Lake Erie KK.-SEE PITTSBURG BESSEl\IER & LAKE ERIE. Pitt.burg Virginia & Oharle8ton Ky .-From South Pittsburg,. Pa., to Brownsville, &c., Pa., 77 miles. ORGAN[ZATION.-Operated by Pennsylvania RR., which owned Jan. 1, 1897, $3,381,8f>O stock, and pays net earnings as rental, the consol. bonds being pledged under its "collateral n-ust of 1883.'' 1897. 1896. 1895. 1891. 1893. DIVIDENDS.- ( 1892. 5 5 5 3 5 5 t>er cent ... 5 BONDS.-In April, 1895, a consolidated mortgage for $6,000,000 was i sued to retire the $3,000,000 firsts of 1882 and pay for extension from Brownsville, Pa., into We t Virginia. and to fund floating debt. EARNINGS.-Year ending Dec. 31, 1896, gross, $1,382,987; net $372 243; other income, $2,662; fixed chargPs, $189,548; dividends (5 p. c.). $171,641; balance, surplus, $13,715. In 1895, net, $645,801. Pitt8burg & We8tern Ky.-(See Map of Balt. & Ohio.)-ROADXiles Miles. , Leased and controlled,Lines owned in feeAllegheny, Pa., to N. Sewickly. 46 Pitts. Cleve. & Totedo ,r... .. . .• 77· Ro.ck Point, Pa., to New Castle 11 Pitts. Painesv~e & Fairport ,r. 53 Frisco to Crowthers............ 6 Elwood Short Lme3 N. Sewickley to Rock Point Callery June. to Butler......... 13 ·3-ft. gauge lines to Jewett, etc .1341 Total (1T see this co.) .••..•.••• 343 (Double track ........••......... 23J ORGANIZ.A.TION, ETC.-In Feb., 1891, the Baltimore & OWo bought $6,515,000 common stock, and in May, 1893, began to use the road as part of a through passen~er route to Chicago. V. 65, p. 983; V.55, p. 237. RE(?EIVERSB~.-On Mar~h 2, 189~. President Thomas M. Ki:Qg was app!)mted ~eceiver. Receiver's certificates (1st series) for $500,000 is ubJect to hen of first mort. 4s for $10,000,000. A St'OOnd series of certificates for$400,000 were authorized in July, 1897, and by agreemeni with 1st mortgage bondholders were made a lien prior to the firsts • v. 65,p.70. 2ND MORT. COM.'TEE.-John T. Terry, Dumont Clark, F. s. Smithers. STOCK.-Common, $8,500,000, and preferred, $5,000,000, 5 per cent non-cumulative; both in $50 sharee. Baltimore & Ohio owned June 30 ' 1897, $6,515,000 common stock. BoNDs.-For abstract of first mortgage (trustee, Mercantile Trust Company) s~e V. 45, p. 439. Second mortgage for$3,500,000 is a first lien on terminals at Youngstown, 0. Of the $3,500,000 seconds given as outstanding, $1,360,000 were unsold June 30, 1897, but..it is understood they were pledged .for loans. See description of mortgages etc. ' ' p. 7 SUPPLEMENT of April, 1896. CoUPo~s.-Interest on_ 2d mortgage 5s due Ma.y 1, 1896, was not paid. First {consol.) 4s, mterest due Jan. 1, 1898, was paid. GENERAL F_IN.ANCES.-On June 30, 1897, there were real estate mtges. $311,375; bills payable, $2,128,08CJ; current liabilities $971 919 Contra: Advances to subsidiary roads, $1,062,743; materi~ , etc., on hand, $115,526 ; current assets, $655,528. Interest is guaranteed on $1,250,000 Pitts. Painesville & FaJrport bonds. Car trusts June 30 189"f'., $431,105, on which 1(? p. c. to be paid in cash and 90 p. c. i~ rere1ver's car trust 6s, maturmg yearly re 1906. (V. 65, p. 1169.) EARNINGS.-5 months, 51897 ..•... Gross, $1,409,780; net $428 812 July 1 to Nov. 30. ( 1896 •••... Gross, 1,219,839; net; 450;252 REPORT.-Fiseal year ends June 30. Report for 1896-97 was given in V 65 p. 1169 , showing earnings as follows. including leased lines: - INVESTORS' SUPPLEMENT. 118 LVOL. LXVI. 8nb11crlbers vvlll conf'er a great .favor by giving Im.mediate notice of' any error discovered In these Table•. Boncts-.t'rmo1. RAILROADS. INTEREST OR DlVIDENDS. Miles Date Size, or Amount Rat-5 per When Where P~able, and by pal,When Dueof Par Stocks-Last F or explanation of column headings, &c., see notes of Road. Bonds Value. Outstanding Cent. Payable on first page of tables. om. Dividend. --- p ittsburg cl Western-(Ooncluded)Receiver's certs ., follow 1st (cons.) M., $500,000 2d mortgage for $3,500,000, gold·-···· ........ c* Foxbur Bridge Co.1st M.,guaranteedbyP.&W. Ellwoo Short Line, 1st M., gold, gu. by P. & W. · b. Youngst. tt .A.shtal>.-Com. stock, $2,000,000 Pitts Preferred stock, $2,000,000 ...................... . Ashtabula & Pittsb. 1st M., Y'ngst'n to Asht. c *&r Consol. mort. (for $4,000,000) s. f. 1 p.c., not dr.P.K p ontiac Or,ford cf: Northern-lat M., g., $400,000.c* p t. Jervis Monticello dl N. Y.-ls1, M.,($22~.,000) g old p ortland cf: Rochester.-Stock, $600,000. , .......... Terminal bonds (no mty;e.), int. guar. B. & M . ... c p ortland cf: Rumf01·d Fal s.-Stock . ....... . .... .. ... Consol., now 1st, mort., $1,000,000, gold . . OB.c* Plain bonds, sin king fund, gold, $350,000 ...... c orttand Saco <t Portsmouthr-Stock (gua'°. by rental) ort Reading.-l st M., g.,car. by old P.&l{ .... c*&r 'Ortsmouth tt Dover-Stoc , 6 p. o. guar. East. Mass. otomac Valley-1st M .$2,000,000, ...•88;l'f.leBa c* &r rosp.Pk.cf:O.I.-2dM. nowlst1$165, 00are6s)c*&r 3d mort., now 2d, gold ($104,000 are 6s) ..... o*&r Income bonds, non•cum .. _.. . ... . .. -·········-··· · p rovutence cl f!orin gfteldr-lst M. gold.. ... ........ o• Providence <l orcester-Stock (10 per cent rental). 1st mortgage, curren cy. $1,500,000 . ..... . ..... c k Queen Anne's.-I@t M. $12,000 per mile (1) . ....... 'J . O. cf: K. a. RR.-1 .,.t mort., g old, red. at p ar . .. c* Guar. Tr. ctfs. of d ep. for old 1st M. non-pref. 5s . Quincy RR. Bri dge Oo.-Stock .. . .. . ................. 8 .... .. . . 3 125 125 62 125 100 .. .. ...... .... .... 64 . .... 51 20 11 15 10 10 -·-· 30 51 51 .... 134 134 .... Var. $100&c. 1891 1,000 1882 1890 50 ..... 50 1878 1,000 1887 1.000 1896 1,000 1894 100 &o. 100 --·· 1892 500 100 i896 1.000 1897 500 &c. 100 is9i 1,000 100 is9i 1,000 1,000 1886 1,000 1891 ·--- i892 --·· 1897 1897 ------· i:ooo U>oo 100 1,000 ·----1,000 1,000 100 '1.-0 June 30Gross. Net. Int. <ttaxes. Balance. d ef.$46,286 1896-97 ....••.. ·-··· $ 2,768,507 $956,084 $1,002,370 1895·96....... . . . .. . 3,091,302 981,223 9 45 ,971 s ur. 35,252 1894-9:'l.... . ... .. ... 2,8 67,892 916,663 930,753 def. 14,090 -(V. 63, p. 2q, 1111; V. 64, p. 84; V. 65, p. 70, 1169.) Pittsburg Youngstow-n & A.shtabula KK.-Owns Kenwood, Pa., to Ashtabuia Harbor, 0., 99 miles; Niles to Alliance Junction, 0., 25 miles; Canfield Branch, 1 mile; trackage, 3 miles. Total, 128 miles. ORGANIZA.TION.-Leased from August 1, 1887, to Pennsylvania Oompany, which Jan.1, 1897, owned $375,000 common and $1,550,000 pref erred stock; rental net earnings. Lease may be terminated at opti0n of either party on one year's notice. DIVIDENDS. l 1890. 1891. 1892 to 1895. 1896. 1897 Common, p. ct. 5 212 3 6 yearly. 6¼ 6 On preferred, 1888 to Sept. 25, 1897, 7 per cent yearly (M. & S.) BoNDs.-Bonds of 1887 (trustee, Farmers' Loan & Trust Co.) are reserved to retire divisional bonds; Lawrence RR. first 7s due Aug. 1, 1895, were paid, but no oonsols issued therefor. A sinking fund of 1 p er cent pQl'Chases bonds of 1887 at par, if offered. EARNINGS.-1 2 months, t 1897 ..... . Gross, $1,462,757; net, $524,33 9 Jan. 1 to Dec. 31. 51896 ...... Gross, 1,383,100; net, 435,097 In year ending Dec. 31, 1896, gross, $1,383,100: net, $ 436,713; int. , etc.,$2ll,010; bal. fordividends,$225,703. In 1895, gross, $1,741,819; net, $729,768; interest, etc., $180,758; dividends (7 p. c. on preferred and 6 p. c. on common), $198,746.-(V. 63, p. 26.) Plant SysteJn,-This system, so-called because of the larg e interest owned in it by the Plant Investment Company, of wll.ich H. B. Plant is President, unites Charleston, S. C. with Montgomery, Ala., and also with Tampa and other Florida• points. The system includes the fo l• lowing roads, described under their own titles, excepting the Brunswick do Western included with Savannah Florida & Western: Mi 'es. Mite.<1. Savannah Florida & Western 8~9 Florida Southern.... . ........ 247 Charleston & Savannah...... 133 Sanford & St. P eters burg. . .. 152 Brunswick & Western....... 171 St. Johns & Lake Eustis . .... 48 Alabama Midland. ........... 235 -Silver Springs Ocala & Gulf. 66 Total. . .' ••................. 1,941 Pontiac Oxford & N ortll.ern KK.-Operates road from Pontiac, Mich., to Case 1ille, Mich., 100 miles. In November, 1897, the physical condition w a s reported to be very poor. Capital stock is $1,000,· 000,.all held by the Hale Estate in New York. Bonds fur $100,000 are held initrust until net earnings are $!U,OUO per annum. Mo rtgage trustee, Mercantile Trust Co., N. Y. lu year 1896, gross, $118,2:.l8; net, $37,192. In year L895, gross, $110,0.'.4: net, $37,15 -'>; interest, $2,250; dividends, $35,000; balance, deficit, $95. Dividends: In 1890, 1 p. c.; 1891, 3 p. o.: 1892, 4 p. o.; 1t!93, 6 p. c.; 1894, 4 p. c.; 1895, 312 p. c.; in 1896, (1). Presidellli, Hu~h Porter, N. Y. Port J ervls J.Uo nit cello & N e-w York KK.-Owns Port Jervis , N. Y., to Montic~llo, N. Y., 2! miles, and Hu~uenot to SL1mmitville, h! miles. Stock authorized, $500,000; outstanding, $409,100; par, $100. In April, 189U, loans and bills payable, $7,451; car trust s (6 per cent, 2 years), $5.564. In year ending June 30, 1896, gross, $49,553; net, $9,924; charges, $14,883; balance, deficit, $4,959. Portland & Rochester K .-Owns road from Portland, Me., to Rochester, N. H., 54 IIllles. !:!tock (autllorized, $600,000; par $100); issued $592,070. Notes payable June 30, 1897, $9,000. Terminal bonds issue limited to $113,500; there is no mortgage, but any subsequent mortgage is to provide for these bonds. Interest on the terminal bonds if:! guaranteed by the Boston & Maine. Dividends since July, 1886, to Jan., 1898, inclusive, 6 p. c. per annum. EARNINGS.-For year ending June 30, 1897, gross, $242,419; n et, $38,874; dividends (Up. c.), 35,524; interest on bouds was paid by B. & M. RR. In 1895-96, gross, $263,297; net, $61,179. I I $500,000 3,500,000 100,000 300,000 1,333,342 1,700,000 1,500,000 1,562,000 300,000 225,000 592,070 113,500 1 ,000,000 1,000,000 350,000 1,500,000 1,500,000 769,000 1,100,000 500,000 200,000 250,000 750,000 3,500,000 1,500,000 (1) 250,000 1,446,000 1,750,000 Semi-an 6 5 g. M.&N. M. & 8. 6 5 g. F. &A. See text. M.& 8. 7 in 1897 M.& 8. 6 F . & A. M.&N. 5 6 g. J. & J. t12g. J. & D. J. 15-J. 4 A. & 0. 4 in'97 Q.-M. 4 g. M.&N. 4 g. F. & A. 6 J. & J. 5 g. J. & J. J. & J. 6 5 g. J. & J. 412 & 6 F. &A. 412& 6g. M. & 8. ...tfg. 10 4 ...6.g. 2·4 10 N. Y., Mere. Tr. & Bait. Nov., '95, coup. last pd. N. Y., Union Trust oo. New York City. N. Y., Farm. L. & Tr. Co. N. Y., Far. L. & Tr. Co. Phila., Fidelity Tr. Co. N.Y.,Farm.L.&Tr.Co. N. Y. Merc 'le Trust Co. N. Y., Cent. Trust Co. .... ... . .. Boston, North Nat. Bk. Boston. Boston, Old Colony Tr. Bos ton a nd Portla nd. Boston. Treasur. Office. Philadelphia. Portsmouth, Treasurer. Baltimore, Hillen St'n. N. Y., U.S. M. & Tr. Co. do do Not :fixed. May 1, 1941 Sept. 1, 1902 Aug., 1920 Sept. 25, '97, 3 S'pt. 25,'97,312 Aug. 1, 1908 Nov. 1, 1927 July 1, 1916 June 1, 1944 Jan.15,'98, 3% Oct. 1, 1907 Dec. 1, '97, 1% Nov. 2, 1926 Aug. 1, 1927 Jan.15,'98, 3% Jan. 1, 1941 Jan., '98, 3J Jan. 1, 19 l Feb. 1, 1926 Moh. 1, 1931 ....... ............. May 1, 1920 J. & J. Provid'ce, Globe N. Bk. July 1, 1922 Q.-M. Providence, Office. Dec. 31,'97,212 A.& o. Prov., R.I. Hosp. Tr. Co. Oct. 1, 1947 J. ··&;n. N.Y., Gilman, Son & Co . Sept..i 2·, .i900 M.12&8 N.Y., checks mailed. See text. Boston. J. & J. Jan. 1, '98, 5% termma ls were established. Capital stock authorized $2,000,000outstanding , $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. CV. 55, p. 544, 639. 680.> Port Royal & A..u2:usta Ky.-Port Royal & Western Caro• Una Ky.-Merged in Charleston & Western Carolina Ry.-which see Portsmouth & Dover KK.-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 ce nt p er annum on the stock, rental guaranteed by the Eastern RR. of Mass. Lease assumed by Boston & Maine. Potomac Valley KK.-Opened in Sept, 1893, Potomac Valley June. , Md., to Cherry Run, W. Va., on the B. & 0., 14 miles, and from Porters, Pa., to York, Pa., 17 miles ; total, 31 mile s. Capital stock, $500,000 ($50 shares). Leased to Western Marylana, the bonds of 1941 h a ving principal and interest guaranteed, jointly an.d' severally, by the Western Maryland RR. Co. and the Balttruore & H -1,rrisb.u rg RR. Co., a nd being so endor ed. The bonds have a sinking fund of 7a of one per ce nt. Earnings for year ending Sept. 30, 1896: Gross, $153,0!7; net, $91,821. In 1894·5, net, $88,92-1. (V. 52, p. 121; V. 66, p. 130.l Prospect Park & Coney Island KK.-Owns from 9th Ave. and 20th Street, Brooklyn, to Coney Island, etc., 5·68 miles; leases to Coney Island Point, etc., 3 ·97 miles. Stock is $250,000; par, $100. HISTORY.-The Long Island RR. acquirea controlling interest in stock in 1893, and in consideration of a guaranty by that coutpany, annual interest on the greater part of P. P. & C. L's bonded debt wc1,s reduced from 6 and 7 per cent to 41.g per cenli. See V. 56, p. 42: V. 62, p. 187. On June 30, 1897, there were $307,000 loans and. bills _payable. First mortgage bonds for $500,000 due Jan. 1, 1895, were paid. Mortgages on r e al e state , 5 p. c., $29,7C6 on June 30, 1897. Year- Gross. Net. Other income. Int.• taxP-s,etc. Balance. 1896-7 ..... $131,653 df.$2,415 $26,155 $78,077 def.$54,337 1895-6 .. . .. 129,757 df.16,984 27,761 -(V. 65, p. 619, 869.) Providence & Springfield KK.-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 moditi.ed in July, 11396,) to New England RR. till July 1, 1989, at 4 per c ent on stock. See V. 63, p. 30, and New England RR. report V. 63, p. 698. The bonds were guaranteed by the N. Y. & New England. In 1893 gross, $182,450; net, $i8,073.-(V. 63, p. 30.) Providence & Worcester KK.-Owns from Providence, R. L, to Worcester, Mass., 44 miles, of which 5 miles are owned jointly with Boston & Providence; brancll.es, 7 miles; total operated, 51 miles; From July 1, 1892, leased for 99 ·y ears at 10 per cent per annum on the stock to the N. Y. N. H. & Hartford. Ex:tra dividend of 4¼ p. c. was paid out of assets in March, 1893. The new currency 4 p. c. bonds (trustee Rhode Lsland Hospital Trust Co.) for $1,500,000 were authorized in Dec., 1896, to retire a like amount of 6s due Oct. 1, 1897.-V. 63, p. 1064. Total surplus June 30, 1897, $214,924.-(V. 63, p. 1064.) Q.u.een A.nne's KK .-Projected from Queenstown, Md. (on Cllesa pea.Ire Bay, opposite B <ialtim11rt1), to Lewes, on Delaware Bay, ana Re1.J.oboth B each on Atla ntic Ocean, about 90 milt1s. Co •npleted from Queenstown to Lewes, 105 miles, in Dece mber, 1897. Pennsylvania tra cks to be u sed between Lewes and Rehoboth. It is said the road will be bonded for $12,000 per mile and stock issued at same rate. President, William H. Bosley, Baltimore. Q.u.lncy Olllah.a & Kansas City KK.-West Quincy to Trenton, Mo ., 134 miles; trackage (C. B. & Q.), to Quincy, 3 miles. HcsTORY.-[ncorporated June 1, 1897, and acquired, from the bond• hol ters' committee representing the non·preferrt1d bonds, tile property of the old Railway foreclosed, paying therefor $250,000 1st mortga,g-e 6s and $1,500,00() capital stock (which is deposited with the Guaranty Trust Co. of N. Y.J. The new company has leased its roa,t, under the terms of the reor~anization agreeLDent, to the OLDaha K. C. & Ea.stern until Sept. 12, 1!}00, w1tb. option to purchase-see that company. T .1~ Q. 0. & K. C. non-preferred bonds (a8 evidenced l>y the receipts of t ,1e Guaranty Trust Cu.) are ·to receive either 70 p. c. in cash or 80 p. c. in new firsts and 40 p. c. in 2d mortgage incomes of the Omah,i, K. C. & E. EA.RNINGS.-Jan. 1 to June 30 (6 months), gross, $L44,336 in 1897; $147,125 in 1896. For calendar year 1896, gross, $294,711, against $260,190 in 1895. Portland & Rumford Falls Ky .-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 mile s. STOCK.-Capital s tock, $1,000,000 (increased from $ .-l 00,000 in 1896); par $100. Drnidends-In 1896, 5 p. c.; in 1897, March, 1 p . c.; June, 1 p. c.; Sept., 1 p. c.; Dec., 1 p. c. Bo os.-The cousol. mortgage of ,i,l,000,000 was issued for refunding, etc.; it is now a tirst lien. Sinkiu g fund for con<1ols ~ p. c. of al consols issued; bonds cannot be ca Ue d. YearGross. Net. Inte1·est. Taxes, etc. Balance. The plain bonds of 1897 were issued for floating debt. 1895-6 ...••• $289,741 $112,111 .---$24,276-~ sur.$87,835 ANNUA.L REPORT.-Report for 1896-7 was in v. 65, p. 567. 1894·5...... 243,575 64,207 $12,500 13,853 sur. 37,854 YearGross. Net. Int., tax., etc. D'ividends. Bal., sur. 1896-97 ..... $262,624 $109,445 $52,878 (412)$30,000 $26,567 -(V_. 64, p. 84,181,470,800,954; V. 65, p. 195.) Q,u.incy KR. Bridge , 10.-0wns urtug e 1·43 miles long over the 1895-96 ..... 211,906 86,837 46,507 (51 15,000 25,330 1894-95 ..•.. 173,350 72,458 41,886 (5) 13,800 16,772 Mis-iissippi River at Quincy, Ill. Leased Jan. 1, 1869, for 100 years to u. B. & Q., Toledo Waoash &: Western (now out of ex:istence) and Han-(V. 63, p. 502,970; V. 64, p. 235; V. 65, p. 236, 567, 685.) nibal & St. Jo;ieph railroads at annual rental of $175,000, which equals 10 per cent on the stock. Portland Saco & Portsmouth RK.-Portland, Me., to Portsmoutn, N. H., 51 miles. It was leased May 4, 1871, in perpetuity to Kaleigh & A.u.gusta Air Line KK.-Owns from Raleigh, N. C. tne Eastern Railroad, Mass. (now merged in Boston & Maine), at 10 p. c. to Hamlet, N. C., 97 miles; Hamlet to Gib on, 10 miles; leases Mon• on stock. Lease rentilil changed Mav 21, 1877, and now 6 per cent. cure to Pittsboro, 12 miles; total, 119 mile;i. Controlled by Rij,leigh & Port Reading KK.-Owns 20 m. of road, colllpleted in StJpt. 1892, Gaston, whicb. July 1, 1893, owned $772,200 stock, and so by 8e~board tram Botmd Brook, N. J., to Staten Island Sound, where extensive & l{oanoke. STOCK is $873,600; par, $LOO. R. & A.. first 6s are en• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS. .JANUARY, 1898.j 119 Subscribers will conCer a great f'avor by giving Immediate notice of' any error discovered In these Tables. Bonds-PrinotINTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or • .A.mount pal,When Due. Rate per When Where Payable, and by Stocks-La.st of Par t"or ex-pla.nation of column headings, &o., see notes of Outstanding Cent. Payable Whom. on first page of tables. Road. Bonds Value. Dividend. - --- Baldgh ti .A.~ta-lst M., guar. p. & i .. R. & G.o* S~a,board Line, Ser. A., B & U (part issue) .... Bateigh d Gaston-Mortgage, $1,500,000, gold .... o Seab. Air Line Eq_uip., Ser. A, B, 0, (part issue) .. Beading d Ootumbia-lst mortgage (extended) .. o* 107 1886 $1,000 $1,000,000 203,833 j:ooo 1,200,000 1897 228,333 1890·6 1,000 ·40 1862 100 &o. 650,000 40 1864 1,000 350,000 .... 1877 1,000 1,000,000 .... . ... 50 69,900,000 To .... . ... 50 70,000,000 To 6 5 5 g. 5 5 5 6 be in be in --· ---· 5 g. M.&N. 5 g. J. & J. ...... '93·'96 ---· 2d mortgage, coupon (extended in 1884/ ........ c Debentures ........................................ o Beading Oo~any-Common stock, $70,000,000 Pref. stock ~ 28,000,000 is 1st pf.] 4 p.c. non•cum Old Phi a, & Read. KR. BONDS. Delaware River Terminal Pur. Money M., gold.c* . 700,000 1892 1,000 1,000 Delaware River Term. Ext. Pur. Mon. M., gold.c* 1892 809,000 tBonds and mortgages on real estate ............. 895,709 OJd Phlla. & Head. KR. BONDS ASSUMED :ei·i> HILA, & .REA.D. RAILWAY. 94 1843 $&£ 1,512,700 t 1st M., ext. in '60, Philadelphia to Pottsv. $&£. c f Mortgage loans of 1844, 1848 and 1849 ......... o 94 1844·9 1,000 954,000 tMortgage loan of 1857 oonvertib~ ............ . c 1857 500 &c. 79,000 t Mortgage loan of 1868, gold, extenfled in 1893. o 1,000 2,696,000 1868 tConaol. mortgage ($8,162,000 are gold 6s) ...... c 254 1871 200 &o. 18,811,000 t Cmpr't M., g., ext. in 1897. Bee V. 65, p. 870, g. 325 1873 ~,364,000 f Consol. M.of 1882, ~• 5s, ext. '97 (V. 65, p.278)0• 327 1882 5·00·&0. 5,673,042 trerminal mort, gol . See V. 64, p. 85 ...... c*&r . 1891 1,000 8,500,000 t M:o~ages on real estate .......................... . 642,905 ...... Phila elphia Subway Loan, guar., $3,000,000 .... .... 189~£.5 1,050,000 2,463,500 tP. & K.Coal & I. morts. See list V. 65, p. 870. '72·'84 5oo··&c. Coal trust certificates, gold. See V. 65, p. 278. 1,000 3,600,000 1894 !Col. sink. f. gold loan (RR.) red. at 100, ass .. c* 1892 l,000 1,744,000 Keadln<>" CoIDpany BONDS ISSUKD IN RE ORGA NIZATI ON. Gen. M.,$13"5,000,000,g., s.f.not subj.to call.c~&r. Text. 1897 500 &o. 58,668,000 N ote.-General mortgage of 1897 requires th at the Rea.di ng Co. and Reading bonds marked 1 above. i¥s --· --· --·· --· 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. EARNINGS.-Year ending June 30, 1896, gross, $463,455; net, $106,· 644; other income, $9,284; charges, $74,893; balance, surplus, $41,035. In 1894·5, gross, $431,087; net, $106,971. ( V. 61, p. 751.) Kaleigh & Gaston KK.-OwnsfromRaleigh to Weldon, N. 0., 98 m: and Louisburg bra?loh, 10 ~· Controls Raleigh & Augusta RR., 107 miles, and has large JD,terest m Durham & Northern RR., Durham to Henderson, N. 0., 42 mile!!; and with Seaboard & Roanoke controls Carolina Central; also controls Georgia Carolina & Northern and Jointl{ ~u_arantees the bonds. Seaboard & Roanoke owns $742,200 of the a e1gh & Gaston $1,500,000 stock; par, $100. Jointly with Raleigh & Augusta Ai,r Line. and Seabord & Roanoke issued $250,000 of oar trust bonds m April, 1896. 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 betterments and im· provements and $30(?,000 for extensions, etc., after three years. V. 64, p. 75~. Loans and bills payable June 30, 1896, $97,635; total our• rent ~bilities, $338,017; current assets, etc., $1,.069,072. DIVIDENDS.-ln 1889, 1 smo and 1891, 6; in 1892, 4 p. o.; none since. E~Gs.-In year ending June 30 , 1897 , gross, $ 631 , 389 (including other mcome). In 1895·6, gross, $599,197; net, $224,6ti; other in• come, $32,247; char~es (interest $83,350, taxes $14,856, "other de• ductions "$138,873), ;i,237,079; balance, surplus, $19,790. In 1894•5, gross, $593,852; net, $194,035.-V. 64, p 758; V. 65, p. 368; v. 66, p. t3. Beading & Columbia KK.-Owns from Columbia to Sinking Springs Pa., 40 miles; branches, l3 miles; operates MariettaJwrntion to ChickLes, 6 miles;totaloperated, 5 9 miles. Stock, $ 958 , 373 (par, $ 50>, of which $785,000, with the $1,000,000 de entures, are owned by Reali• ing Company and deposited under its ge 1 mortgage of 1897. The road is controlled but accounts kept separate. In year endmg June 30, 1896, gross, $291,759; net, $96,325; charges, $115,306; balance, deficit for year, $18,981. In 1894·95, grosi., $280,81:!9; net, $91,289. Reading Coinpany-Phlladelphia &; Reading Ky.-( See Map.J-The Philadelphia & Reading Ry. operates in connection with the great anthracite coal l)ro~erties_ of the Philadelphia & Reading Coal & Ir, c h on o. 1n t e Schuylk 1 reg10n, Pennsylvania, a large system of roads oenterin~ at Philadelphia and extending thence westerly through the coal :fl.elds to Hazelton and Williamsport on the north and Har· risburg, Shippensbur§ and Gettysbur"', in Pennsylvania, on the south, ,.., also easterly in New ersey to Atlantic City, the sum.mer resort on the Atlantic Ocean, and to tidewater at Port Reading on New York Har· bor. The system com.prises: Lines owned in fr.e. Miles. Philadel11hia to Mt. Carbon, · Pa.. etc. (double tracked) .... 101 BranohesReading to Harrishurg, Pa.. 54 Leban~m to Brookside, Pa... 42 Rockville to Auburn, Pa.... 53 Mahanoy City to Pt. Trev.·· ( New Castle to Mahanoy 651 ~lait:a ... · ·· · ··· ·•• · · ·· · · 0 t er es .. ···········•····· 22 Leased lines-(Oon.) Miles. 0·4 86·4 33·7 44·0 40·6 1 •3 2·6 -Total leased.·········•·•··• 546·0 Lines controlled-(See each Co.) ENTIRE STOCK OwNED. Total (2 tracks 173 miles). 337 Chester & Delaware RR..... 5·7 Lines leased (See each Co.) Rupert & Bloomsburg....... 2·4 Colebrookdale RR. 12·8 Middlet'n& Hummelst'nRR. 6· 6 Pickering Valley RR.·:.:::::: 11·3 TamaquaHazleton&N. RR. 9·9 East Pennsylvania RR...... 36·0 MosT oF s-rocK OWNED. Allentown RR...... . .. . .• . . . 4·5 Reading & Columbia RR.... 39·5 Little Schuylkill RR......... 28·1 Lebanon branch........... 5·2 Mine Hill & Schuy. Haven.. 51·8 Read. Marietta & Han. RR. 6·3 Mt. Carbon& Pt. Carbon RR. 2·5 North East Penn. RR. ....... 25·6 Mill Creek & Mine H. RR.... 3·8 Phila. & Chester Valley RR. 21 ·5 Schuylkill Valley RR 11 ·0 Atlant·c fft RR 83 5 East Mahanoy RR ... :::::::: 14·1 Oatasa~qu~ ~ Fogeisv: 27:2 Shamokin Sunbury & L. RR. 31·1 Cam.den County RR.......... 7·3 Phila. Germ.an. & Nor. RR... 29•4 j Gettysburg & Harrisb Ry... 34·6 Chestnut Hill RR............ ,1,-1 __ Catawissa RR ........••.....• · 96·5 I Total controlled ...••••.••• 275·3 Total system July, 1897 (2d track 448 miles) ...•••.....•...• 1,158·3 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 1>lan in v. 61, p. 1109. In the reorganization the 41 millions of old stock and the 5634 millions of old preference income bonds were assessed 20 per cent the s~o<lk then receiving 100 per cent in ne~ common and the prefer: ence rncom.es, common and preferred stock m certain proportions. The old company had previously been in receivers' hands from May 1880, to February, 1888, also from June, 1884, to Jan., 1888, when was reorganized without foreclosure per plan in v. 43, p. 747. The "Reading Co.'' in the reorganization of 1896 acquired the stocks, bonds. rPal eP.tate, equipment, etc. (as per balance Rheet, V. 64,p. 711) of thA old Phila. & Readl_ng RR. 90.; also $20,000,000 stock and $20,· 000,000 bonds of the Philadelphia & Reading Ry. and the $8,000,000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 Norristown Juno. RR....... North Pennsylvania RR..... Delaware & Bound B. RR... Schuylkill & Lehigh RR..... Phila. Har. & Pitts. RR...... Phila. & Reading Term. RR. Phila. & Frankford RR...... I I I I RR:: it I J. & J. Balt., Mero. Tr. & D. Co. Jan. Baltimore. Part J. & J. Bait.Mero.Tr.& Dep.Co. Jan. J. & D. do do . Part M.& 8. Phila., Phil.&Read. RBi. Mch. J. & D. do do June J. & D. :Dec. voting trust for 5 years or mo re. voting trust for 5 years or mo re . ---. 8EElNOT E. 6 6 41i! 5 g. 6 g. &7 4 g. 4 g. 5 g. ...... J. J. J. A.. J. & J. & J. & J. & 0. & D. A. & 0. M.& S. Q.-F. . .... Phila., Guar. Trust. do do . ......... 1, 1926 yearly. 1, 1947 yearly. 1, 1912 1, 1904. 1, 1917 May 20, 1942 July 1, 1942 . ........ Philadelphia & London. July 1, 1910 Philadfead. Tea Bldg. J ~ 1, 1910 0 J y, 1910 do do 0-0t. 1, 1933 Phila., do & London. Junel, 1911 Phila.. Read. Ter. Bldg. Apr. 1, 1947 do do Mch. 1, 1937 Phila., Prov. Life & Tr. May 1, 1941 -------· City Treasury. 3 & 3:lg 1904·1924 5,6&7 various Phila., Read. Ter. Bldg. Feb., '98-1904 A.pr. 1, 1904 6 g. Q.-J. Philadellhia. 5 g. F. & A. Phila., Prov. ife & Tr. Feb. 1, 1902 & J. N. Y.iIJ.P. Morgan&Oo. Jan. 1, 1997 41; J. Iron Co. sha be responsible for all old Coal stock of the Coal & Iron Co., and against all this property issues its own securities. See V. 64, p. 709. The Railway Company took possession of the road Dec. 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 following: Rail way equipment leased to Rail way Co. for 8 per cent ($1,356,000) yearly, valued at .....•...................... $16,950,000 Real estate not a.ppurtenant to RR. (annual revenue about $175,000)............ ..... ...................... ........... 16,000,000 Colliers and barges leased to Ry. Co. for $115,000 yearly. 1,450,000 Phila. & Readin~ Ry. stock ($20,000,000 and bonds or 1896, $20,000,000) par (annual interest to Reading Co., $1,200,000).............. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000,000 Phila. & Readinl( Coal & Iron and Reading Iron com• panies' stock at par........................................ 9,000,000 M1scellanMus stocks and bonds at par (yielded in 1896 about $765,000) ....... _.. .. . • . . . ..................... ... . . . 38,488,246 Morts. and ground rents at par (not under '96·'97 mort.). . 266,594 Cnt. in Phila. & Read'g Coal & Ir. above securities owned 68,154,679 Claims against other oompantes, etc........................ 3,344,384 ----Total (total est. revenue, $3,628,023. (See V. 64-, p. 710) .. $193,613,902 VOTING TRUST, ETc.-.A.11 classes of stock of the new company are to be held by voting trustees (J. Pierpont Morgan, Frederic P. Olcott andi Henry N. Paul) for :fl.ve years, and thereafter until 4 per cent cash divi• dend per annum shall be paid on the first preferred stock for two con• secut1ve years, though the trustees may in their discretion surrenderthe stock at an earlier date. As to stock privileges see V. 64, p. 709. See copy or votin~ trust agreement V. 64, p. 95 5, and also SUPPLEME T of April, 1897, page 5 · BONDS.-The New General Mortgage 4s (abst1·act V. 64, p. 612), are secured by mortgage and pledge of all properties and seouri• ties embraced in the reorganization, and also all other property acquired tllereafter by utie or the new bonds. They will have a sinking fund out of the revenues from the Coal & Iron Company, but are not subject to compulsory redemption prior to maturity. The new mortgage ii! also, i,ubjeot only to the bonds for which reservation is made,. based upon properties or securities of all the lines of railroad owned,. including the Philadelphia & Reading Railway Company proper, 391 miles; various leasehold lines, 597 miles; all the property of th& coa1 & Iron company, or the seour1·t·1es thereo f , reoresenting nearly 200,000 acres of coal and timber land; equipment valued at about. $12,000,000, previously subject to about $5,000,000 of car trust obli· gations [acquired under the plan[ and also the marine equipment. Furthermore, it has a :fl.rat lien upon a majority of the capita! stock of various companies in the system. ownmg 448 miles of railroad, of which 195 miles are leasehold lines included in the 597 miles above stated, and also on bonds of roads in the system (otherthan the P. & R. Ry. Co.) a.mounting to $34,265,936 par value. The The securities are said to have earned in 1894·95 an income of $585,000, of which $448,000 was actually received as dividends-see list of these securities in V. 64, p. 613. The new mortgage is for $135,000,000, issuable only as follows: To take up undisturbed bonds of the Reading RR. and Coal & Iron Co .................•••.........•.............. $64,631,000 For future construction, equipment, eto., at not over $1,500,000 per annum. under stringent provisions..... 20,000,000 Issued at once for reorganization purposes 50 369 000 ·····•· ···· · ··· ' ' Improvement mortgage 6 p. o. bonds or 1873 due Oct. 1, 1897, were extended at 4 p. c. for 50 years from April 1, 1897, payable in U. 8. gold and guaranteed p. & i. by the Reading Co. V. 64, p. 470; V. 65,p. 516. The consot 5s of 1882 for $5,673,042 were also extended at 4 p. o. till Mar. 1, 1937, the Reading Co. andfOoal & Iron Co. becoming responsible for them. See V. 65, p. 870, or extension contract. V. 65, P• 152, 870. The terminal mortgage bonds are Reading RR. bonds, and are. secured by a mortgage upon all the property of the Terminal Co. and by a traffic contract between Reading and the Terminal Co. rhe trustee is the Provident Life & Trust Co. of Phila. Amount authorized, $8,500,000. Bee descriptiou in V. 64, p. 85 and guaranty V. 60, p. 732. For ten--']Jear sinking fund loan see Januar.v, 1895, SUPPLEMENT. The coat trust certificates under the agreement of May, 1895, are not redeemable until April, 1904-see particulars V'. 63, p. 838. Se& also Jan., 1895, SUPPLEl\lENT. . As to Philadelphia Sub.way Loan the receivers were authorized in June, 1894, to pay interest (and principal at maturity) of not exceeding $3,000,000 out of a total issue of $6,000,000 of 3 to 31i! p. c. bonds of City of Philadelphia, to abolish grade crossings. The amount outstanding will be increased to this :fl.gure on completion of the subway. Principal is payable after ten years from date of loan in 20 annual instalments. See V. 58, p. 1110; V. 62, p. 950; V. 63, p. 881. As to the $64,631,000 outstanding old bonds (see V. 64, p. 614), the Reading Co. and the Coal & Irvn Co. under the general mortgage of 1897 covenant to pay their interest when due and to pay or e.11.tend their principal at maturity. COAL PROPERTIES.-These aggregate about 194,000 acres, as follows: Ooallands owned (acres) .... 95,1441 Timberlandsowned(aores) 70,489 Coal lands leased (acres) .... 7,429 Iron ore lands (acres) ....•• 21,000 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE READING COMPANY SYSTEM. JA~UARY, RAILROAD STOCKS :AND BONDS. 1898.J 121 Subscribers -w-lll con.fer a great .favor by g"ivin~ iinIDediate notice o.f any error discovered In these Tables. RAILROADS, INTEREST OR DIVIDENDS. Bonds-Prinoi Miles Date Size,or Amount -----:-----,-----------rpal,WhenDue• .For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. Rensselaer cl Sara.-Stock,8p.c.gu.Del.&Hud.)end.) 1st mortgage, consolidated .................... c* &r B£ch.F'red. cl Pot.-St'k,com.($1,071,800 div.,oblig.) Stock, guar. 7 p. o., except $19,300 guar. 6 p. o .. 1st mortgage, convertible ....••..•...............•. do coupon bonds due in London ...••.. do do due in U. 8 ..•••.••••• do certificates of debt, due in U. 8 . ... . 2d mortgage do do .... . Consol. mortgage for $2,000,000, gold ....... o*&r Richmond <I: Meckle,,biwg-lst mortgage .......... . 2d mortgage .....•.•..........•..................... Bict,,. Nichol. Irv. ct B.-Receivers' certificate .....•. Contractors' liens ................................. . Bichmond cl Pete1·slnirg-Stook .....•...•.. .....•..•. First mortgage ($24,500 are 7s) .............•..... Consolidated mortgage for $1,000,000, gold .... o* Richmond Perersb. <I: Oaro.-lst M .•...•.•. Seetext. Bio Grande Junction-lat M., g-old, guar. jointly. '3* Rio ·Gr. Sierra M. cl Pac.-lst M ,gold,$20,000 p.m. Bio G1·ande Southern-Stock, $25,000 per mile ..... 1st M.,$5,000,000g.,$25,000p.m., incl. equip.o*ctr Bw Grande Western,-Common stock ..............•. Preferred stock ($7,500,000 authorized) .......•. 1st trust mortgage, for $16,000,000, gold ...... o.. Utah Central 1st M., $f:00,000, guar. by R. G. W. River Front-Stock, 5 per cent, guar. Penn. RR .••. 1st mortgage, guar. p. & i. by Penn. RR .....•.... Debentures ..••..••............•.........•.....•.••. Boct,,. c1; Genesee Val.-Stock, 6% rental Erie RR ..... Bock Island if Peoria-Stock ......•.................. 1st mortgage ....................•...............•. r Consolidated 1st mortgage ........................ r 192 79 ·s·z 82 82 82 82 82 31 is7i .... iS56 1858 1870 1858 '44-66 1990 1882 .... is1i> 1890 1898 1889 1897 ..18 113 91 113 $100 $10,000,000 8 J. & J. 1,000 2,000,000 7 M. & N. 100 2,250,600 612 in '97 .J. & J. 500,400 7 M. & N. Vartiis J. & J. 99,07,0 5 Various 47,248 5 J. & J. Various 298,000 6 M. & N. Various 83,303 7 J. & J. 53,511 5 J. & J. $i:cioo 500,000 412g . .A. & O. 315,000 to 6 M. & N. ·····• 160,000 . . . . . . M. & N. 138,000 .....• ..... 460,000 ....•. ..... ··ioO 1,000,000 7 in 1897 J. & .J. 500 &o. 340,500 6 & 7 M. & N. 1,000 300,000 412g, A. & 0. (1) i:ooo (1) .. ioo 4,510,000 is9o 1,000 4,510,000 100 10,000,000 100 6,500,000 iSS9 l,OOO&o 1s5~;~~~t~o 1897 ···50 300,000 iss2 1,000 216,000 84,000 ~:~~ ··ioo 555,200 .... 100 1,500,000 1878 25,000 150,000 1885 5,000 450,000 GESERA.L FINANCES.-Application to N. Y. Stock Exchange to list general mortgage bonds was given in full in V. 64, p. 709. Fixed charges of entire property on completion of reorganization will be $8,672,672. Pending completion of refunding schemes, etc., the fixed charges will be, perhaps, $300,000 to $400,000 more.-V. 64, P• 85,570. LATEST EARNINGS.-From July to Nov. 30 (5 months) results were as follows on basis of present charges in both years: 5 mos. to ,--P. & R. RR.--. ,- - ·Goal & Iron.---. Read. Go . .All Gos. Nov. 30. Gros.• . l\Tet. Gross Net. Net. total net. 1897 .. ..... $0,~:J8,579 $4,687,533 $11,357,8115 $737,635 $157,0H $5,582,2011 1~9tl... .. .. 9,<l.78,321 '1,355,180 10,590,730 7'13,'108 157,041 5,255,629 Charges all Cos. 5 mos., 1897............... $3,725,000; balance, snr., $1,857,209 The Reading 8ystem always shows small earnings in the winter months. The largest earnings are in the autumn. A.NNuAL REPORT.-Fiscal year ends June 30, having been changed in Sept., 1897, from Nov. 30. The balance i,heets of Dec. 1, 1896, were in the CHRONICLE, V. 64, p. 709, as also the follomng statement: YEAR END. NOV, 30, 1896, SURPLUS OVER ADJUSTED FIXED CHARGES. Railway Go. Surplus. Goal <I: Iron Go. Deficit. Reading Go. Surplus. Total Surplus. $130,159 $625,356 $1,303,261 $808,06i Net earnings of entire property (including income from all sources) in year ending November 30, 1896, were . ....••. $9,480,736 Fixed charges on completion of reorKanizatlon will be .... $8,672,672 Report of old companies for 1894-95 in CHRONICLE, V. 62, p. 133: Years ending Nov. 301895. 1894. 1893. Passenger traffic. . . • . . • •. . . •. $3,959,073 $4,137,961 $4,349,133 Coal traffic.................... 9,957,870 9,752,297 11,295,850 Merchandise traffic........... 6,9l0,469 5,992,373 6,722,051 Miscellaneous................. 375,404 363,263 376,621 United States mail............ 97,759 98,881 85,191 .rotal earnings RR. Co ...... $2.1;300,575 Net earnings of Railroad. $9,672,164 Steam colliers,investm'ts,etc. 587,089 Net earnings of O. cl 1. Go .• •. loss.699,809 ------ $20,344,775 $9,065,786 505,633 268,553 --·· -- $22,828,845 $9,459,421 609,072 1,104,196 Total net of both companies $9,559,444 $9,839,972 $11,172,689 OFFICERS P. & R. RY.-(In May. 1897.)-President, Josephs. Harris; First Vice-President, Theodore Voorhees; 2d Vice-President, C. E. Henderson; Secretary, W.R. Taylor; Treasurer, W. A. Church; Comptroller, D. ,Jones.-(V. 65, p.413, 516, 870; V. 66, p. 39, 185.) Renl!lselaer &: Saratoga KK.-The line of road is as follows: Road owned- Miles. Leased ( Continued)- Miles. Troy to Lake Champlain ....... 79 Vermont line to Castleton, Vt. 7 LeasedEagle Bridge, N. Y., to RutTroy to Waterford Juno., etc.. 14 land, Vt ......•..•....•••....•• 62 Schenectady to Ballston.. ...... 15 Ft. Edward to Caldwell_....... 15 Total operated ....••..•..••. 192 LEASE.-Leased in perpetuity March 1, 1871, to the Delaware & Hudson; rental, 8 per cent on the stootr and interest on the bonds. Wording of guaranty on stock was in V. 56, p. 773. Yem·. Gross. lvet. Int., taxes, etc. Bat., def. $:'143,28l 1896-7......... $2,345,270 $804,124 $1,147,405 347,564 1895-6 --······ 2,351,545 862,484 1,210,048 -(V. 63, p. 881.) Richmond &: Danvllle.-See Southern Railway Co. Richmond Frederlcksburo- &: Potomac KK.-Owns fritm Richmond, Va., to Quantico, 79 ~es; .James River branch. 3 m.; leases Quantico to Junction, etc., 3 miles. total 85 miles. The dividend obli• gations receive same dividends as common stock, but carry no voting power. Rich. & Peter~b. Connection RR. stock or $140,000 receives 8 p. c. dividends under lease. Atlantic Coast Line Co. owned $675,800 common stock June 1, 1897. The guaranteed stock is secured by mortgage. Consols are reserved for prior bonds maturing. DIVIDENDS on E>tock, '?. '88. '89. '90. '91 to '93. '!l4. '95 '96. '97. Jan.'98. and div. o!Jli1rat. p.c. 5 7 7 612 7 yearly. 6¼ 7 7 6 1 2 31 REPORT.-Heport for year end. June 30, 1897, showed gross $680,760; net, $233,451; other income, net, $7,828; interest, $59,593; divi• dends.j $181:317; balance, s•1rplus, J~69. In 18J5-9?, gro~s, $739,_368; net, $-42,668.-(V. 60, p, -ll, 1100' V. 63, p. 002, v. 6.J, p. l0ti8.) Kichlllond &: lUecklenburg KK.-Owns road from Keysville, Va., to Glarkesville, Va., 31 miles. Road is operated by Southern Ry.Co. under operating contract by which R. & M. gets the net earnin~s and certain per cent on traffic derived from Southern Ry. within' liDllted territory. A percentage of interest on first mortgage i paid from these receipts. STOCK.-$357,900 (par $100), of which $300,000 owned by So. Ry. Co. For year ending June 30, 1896, gross, $56,057; net, $13,415; other income, $5,591; int., taxes, etc., $22,867. Richmond Nich.olasville Irvine&: Beattyville KK.-See LOUISVILLE & SourHEA TER~ RY. Richmond&: P e tersburg KK.-Owns from Richmond toPeterrbure, Va., 23 miles; hrancb, 5 miles. Operated in connectinn with At· lantio Coast Line, wbicb owned $6 7,100 of the tock June 1, 1897. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1,850,000 ! 5 5 g. 6 g. ...... 3-4 g, .. . . . . See text. g. 5 412 4 6 5 10 6 ! N.Y.,Del. &H.CanalCo . .Jan., '98, 4o/o, do do May 1, 1921 Phila. & Richmond. .Jan.3 '98,312o/~ do do Nov.,18~7, 3 12-· do do 1901 do do 1901 do do 1901 do do July, 1899 do do 1901-1902 N. Y., Phila. or Richm'd. Apr. 1, 1940 P.ct. of int.pd.from net. Nov., 1921 . ..• .• . . . . 1937 .......... . .....•. . ......... . •....•• Richmond, Office. Jan.3 '98,3¼o/o do do May 1, 191l> N. Y., Brown Brothers. Apr. 1, 1940 .J. & D. N.Y.,Mait.,Coppell& Co ..... I . . . . •• . ••• ... .. .......••. J. & J. N.Y.,Mait.,Coppell& Co . . . . . N. Y., Office, 11 B'way. Q.-F. do do J ...~...J. N. Y.,~~~.t~~~~st Co. . . . . . All owned by Penn. RR. M. & N. Phila., Co.'s Office. Deo:·1,"i939 1927 . •.•••.. July 1, 1940· . .•...•. Feb.15,'98, l¾. . .J~~.~:.•~93~ . ....••• May 1, 1912 . • ••. •. . •• Dec. 3 l, 1903· N. Y., by Erie RR. Co. Jan., '98, 3 N. Y., Corn Exch. Bank. Jan.l '98,212¾>· do do .Jan. 1, 1900do do Jan. 1, 1925 I J .30, D.31 .J. .J. J. J. & .J. & J. & J. & J. 62.. DIVIDENDS since 1883-In 1884, 1885 and 1886, 5 per cell.ti; in 1887, I 6: from 1888 to Jan., 1894, inclusive, 7 -per cent per annum; in July, 1894, 3 p, o.; in 1895, 612 p. c,; in 1896, 7 p. o.; in 1897, 7 p. o.; in 1898, Jan., 312 p. c. ANNUAL REPORT.-Fiscal year ends June 30. Annual report for 1896-97 in V. 65, p. 1111, showing gross receipts, $391,212: net, $158,736; other income, $4,560; interest on bonds. $34,175; dividends, .. $70,000; surplus for year, $59,121. In 1895-96, gross, $408,403; net, $156,209.-(V. 63, p. 5 5 5; V. 6fi, p. 1111.) 'III Klchmond Petersburg &: Carolina KK.-In Jan., 1898, this company was about to begin the construction of a line in the interest . of the Seaboard & Roanoke from Ridge way, N. C., to Richmond, Va., 106 miles, forming a northerly outlet for the Seaboar 1 Air Line sys• tem. Clearing the right of wav has a lready begun. The ownership of the city of Petersbur){ in the ent-rprise, which was proj ected several year ago, was acquired by parties now in control in March, 1897, bonds being given that the line will b~ completed. The road will cost, it is said, about $2,000,000, and it is proposed to bond it for $17,000· · per mile. President, De Witt Smith, 50 Broadway: Vice-President:, James R. Negley. The other directors are Charles E. Johnston, Ral eigll, N. C ; Robert J. Mooney, New York, and Wm. R. McKenney, Petersburg, Va. Office, 136 Liberty St., N. Y. Lity. Kio Grande Junction Ky.-Owns road Rifle Creek, Col.. to a. connection with the Rio Grande Western at Grand Junction, 62 miles. This is a connecting link in the standard-gauge route between Ogden and Denver and Colorado Springs. Leased by Colorado Midland Rail- • road (since foreclosed and reorganized as Colorado Midland Railway) and Denver & Rio Grande at 30 per cent of gross earnings, which companies lointly and severally guaranteed the bonds, principal and in· interest. For year ending l'i'ov. 30, 1897, gross, $362,664, against; $284,9ll in 1896. Stock is $2,000,000 (par, $100)-all outstand.ing. -(V. 51, p. 829, 830; V. 52, p. 204.) Kio Grande Sierra Madre&: Pacific KK.-Orga.nized in Mexico in 1896;incorporated in N. Y. State in .June, l897, when completed from Ciudad Juarez via the San Blas Mountains, Lake Guzman, Sabinal,. and San Pedro mining region, to vicinity or Casas Grandes, 156 miles. Capital stock is $3,120,000 (d:l20,000 per mile) and bonds are authorized . at $20,000 per mile. See V. 64, p. 1138. El Paso Southern RR. has . been organized to build El Paso terminals and Rio Grande bridge. DIRECTOR'I.-President, A.. Foster Hie:gins; Vice President, Edwin D. Morgan; 2d Vice-President, A. Gill"ord Al('new; Secretary, George Rowland; Treasurer, Solon Humphreys; S1del Tilghman, .John B, LawrenC1e, Jr., W. Morton Grino~ll, ~d ward M. ::3hepard and John T. Terry New York offices are at 54 Exch. Place.-V. 64, p. 611, 1138 Kio Grande Southern KK.-(See Map Denver & Rio Grande.JOwns narrow gauge from Dallas (new name Ridgeway), Col., on the Oenver & Rio Grande, southerly to Durango, 162 miles, and branches to relluride and coal fields near Hesperus, 18 miles. BONDS.-Interest on firsts is reduced from 5 per cent to 3 per cent to•• Jan. 1, l898, and 4 per cent therearter. A majority or the stock is owned by D. & R. G. and by it has been placed in trust. See V. 63, p, 404. Mortgage trustee, Central Trust Co.; abstract, V. 5t, p. 163, and ap• plication to N. Y. Stock Exchane:e in V. 54, p. 446. Bills payable .July 30, 1897 (under contract with the D. & R. G.), $191,166. LATEST EARNINGS.-5 mos., 51897 ..... Gross, $170,666; net, $66,814 July 1 to Nov. 30. { 1896 ........ Gross, 196,200; net, 91,553 For year ending June 30, 1897, gross, $40 l,238 ; net, $171,449 ; other income, $2,989; interest, taxes, etc., $170,967; surplus for year, . $3,471. In 1895·96, gross, $189,231; net, $234,226. (V. 65, p. 364.) Rio Grande Nestern Ky .-1 See Map.)-LINE OF ROAD-Owns Crevasse, Col., to O~den, Utah, 310 m , to Wasatch, Bingham, Coal Mines p . etc., 52 m.; San Yete branch, Thistle to Manti, 62 miles; Sevier Railway (proprietary line-all securities owned), Manti to Belknap, 62 miles;. Tintio Range Ry. (proprietary line, all securities owned)-Springvilte to Mammoth, and spurs. 46 miles; total owned, 532 miles; Utah Central (stock owned), 37 miles. Leases Crevasse to Grand Junction, 18 miles. Total operated, 587 miles. Main line is laid with 65-lb. steel. Also owns 11 miles of tramways. HISTORY,-Formed in June, 1889, to succeed the Denver & Rio • Grande Western, by plan of March, 1889. V. 48, p, 429; V. 52, -p. 941. In consideration of receiving the entire capital stock of Utah Central, . interest on $550,000 of the $650,000 Utah Central first 4s is guaranteed by Rio Grande Wastern. CAPITAL STOCK.-Preferred stock is entitled to 5 per cent dividend, non-cumulative, then common stock to 5 per cent, after which both classes of stock share pro rata. In Augu t, 1897, $250,000 preferre<l is ued for stock di ridend on pref. of 4 p. c. 1891. '92. '93. '9-1-6. '97. '98. DIVIDENDS.- { Preferred, p. c. 5334 and 2¼ pref. stk. 5 334 None. B elow. Below. In 1898, Fob .. 134 p. c. (of which l p. c. was extra).-V. 65, p. 1197, 1222. In August, 1897, a dividend of 4 p. c. in preferred stock was paidi .. upon the preferred shares, and in October, 1 'J7, regular cash dividends on preferrecl were resumerl. at rate or 34 p . c quarterly, the first bein~ payable Nov. 15. Should earniu~s justify, the officials state, extra dividends may be paid each six month~. See V. 65, p. 778. BOND .. -See abstract of mortgae:e ((.)antral '.trust uo., trustee) in V. 49, p. 237, and statement to New York Stock Exchange in V. 50, p. 73. ·~·-r-·-- INVESTORS' SUPPLEMENT. D 0 Yost I i I I ct Tecomu i i i-. .. ··· ··· Q ;. ·..... .f ct Q Ibup~h i: ) E'i sh https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .=-.. ···· A --- Sno,?-ville · - •unnon LVoL, LXVI JANUARY, 1898 J RAILROAD STOCKS AND BONDS 123 Sub8crlber8 will confer a great favor by giving lrnrnedlate notice of' any error discovered In the8e Tables. Bom,1,,,-.PtinoiINTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Due. Amount Rate per When Where Payable, and by pal,Wben Par Outstanding of Stock6-Last For explanation of column headings, &c., see notes of Road. Bonds Value. Cent. Payable Dividend. Whom. on first page of tables. - - --- Rome cl Olinton-Stock (rental gr a nted) ............ Boone Watertown cf Ogdensburg-Stock, guar. (end.) lstM.,Wat. &R. ,RometoCaoe Vin.,s.f.,notdr'n.c* Syracuse North'n, 1st M. B,ra cuse to Sandy Cr.c* Consol, M. (int. but not prm. payable in gold) .. c. Oswego Bridge Co. 1st mortgage .................. Syracuse Phenix & Oswego 1st mortgage......... Norw'd &Mont.1st M., g., $360,000; $10,000p.m. B. W. & Og.Term. RR. 1st M., gold, assume.I . ... c* Oswego & Rome, 1st mortgage, guaranteed....... 2d M.,jold, guar p. & 1. (end) by R. w. & o .. c k N. Falls r. RR. stk., ($243,000own. by R.W.&0.) Utioa & Bl. Riv. st'k,7 p. c. perpet. gu. by R.W.&O. Clayton & Theresa 1st mortgage ............... c U.&B.R.lst M., $2,000,000, g., gu. p.&i.(end.) .c Bufiert ct Bloomsb'g-lat M.gu.p.&i. (end.)P.&R.g.c* Bu land-Stock, preferred (for com. see text) ...... 1st mortgage (8 fer cent, reduced to 6) .... . ..... o 2d mortga~e an first on rolling stock ........... o First oonso. mort. for $3,500,000, g-old...... c*&r Butland cf Whitehall RR.-Stook (no bOndsJ .. . .... Sag. TuscolacfHuron-lst M. ,$15,000 p.:::i.,gold ... o* St. O. Mad.~ St. L. Belt-Stock ...................... Alton Bridge lstM., g....... ...... ...... . .... c* 8t. JohnslYury & L. Ohampl.-Stook, $1,298,500, pf. First mort., ($1,328,000, guar. by B. & M.)gold.c* St. Joseph & Grand Island Ry.-Common_ stock . . . 1st prefe, red stock, 5 per cent, non•cum ......... 2d preferred stock, 4 per cent, non·cum ...... . ... 1st M., g., 2 p.o. 2 yrs., 3 p.o. 3 yrs., then 4 .. o*&r .... ·97 45 All .... 17 13 14 28 28 9 150 16 134 2 120 120 120 120 7 67 .... ---· i3i ··-· . ... $100 $345,360 614 J. & .J. Clinton, N. Y., by check Jan., '98, 318£! 100 10,000,000 Q.-F. N. Y., Gr. Cent. Station. Feb .15,'98,l 5 417,800 do i855 100 &c. do Sept. 1, 1910 6 M.& 1,000 500,000 1871 J. & . N. Y., Gr. Cent. Station. July 1, 1901 7 1,000 1874 9,076,000 A. & 0. July 1, 1922 do 5 do 100,000 1885 F. &A. July 1, 1915 do 6 do ----·· 175,000 1885 F. & A. Feb. 1, 1915 do 6 do ---··· 130,000 1886 5 g. A. & O. do do ~r. 1, 1916 375,000 y 1, 1918 1888 5 g. M.&N. do do 1,000 350,000 1865 M.&N. May 1, 1915 do 7 do 1,000 400,QOO 1891 5 g. F. & A . May 1, 1915 do do 250,000 do 7 do M~·&·· 8. 2,223,000 Sep. 30,'97 ,319do '68·71 7 do 200,000 1873 500 &c. J. & J. July 1, 1898 do 7 do 1,000 1890 4 g. J. & J. July 1, 1922 1,750,000 do do 1,000 50,000 Philadelphia. July 1, 1916 1889 J~ & J. 5 ~100 4,239,100 2 in1 897 J. & J. See company's office. J a n . 3,'98, 1% ---· 1872 100 &o. M.&N. Boston, Globe Nat. Bk. Nov. 1, 1902 1,464,100 6 1,4S0,900 F. & A. do 1878 100 &o. do 5 Aug. 1, 1898 1,000 605 ,000 1891 \¼g. J. & J. N. Y., U. 8. Mort. & Tr. July 1. 1941 255,700 ~.-F. Troy, United Nat. B'nk. Aug-.,1897, 3~ See text. 5 g. M.& 8. .............. isii1 Sept. 1, 1931 100 500,000 ..& .. J . ... 5.g. Jan., '9.6,"coup: ·1ast pd. 1,000 500,000 i893 J. 50 3,848,590 ·-·--· - --.. 5 g M: ·&··s. Boston, Comp'y s Office. Mch. 1,000 2,068,000 i894 1, 1944 100 4,600,000 All stoc kin vot ing trust for period s t a ted in text. ·--· 100 5,497,600 J. & J. N. Y., Centnl Tru t Co . J ao . 15,'98,2125 ·· -· o,430,voo 100 . .&.i N. Y., cientraiTr. Co. J a u·:i:·i947 1,000 3,500,000 2:3:,i g . J. 1897 l i:c>"oo ---- ··ioo i:ooo se·e·tei:t. ··-· ·--· ··-- ---252 In December, 1893, $1,200,000 first mortgage 4s were issued for improvements. This mortgage covers the 435 miles owned in fee, including 11 miles of tramways, but not the Sevier Ry. securities nor the Tintio Range securities, both of which issues are a vailable assets. On June 30, 1897, there were $800,000 firsts in the treasury. EARNINGS.-5 months, l 1897...... Gross, $1,529,783; net, $597,864 July 1 to Nov. 30. 51896 ...... Gross, 1,091,107; net, 370,735 ANNUAL REPORT.-Flsoal year ends June 30. Annual meeting is held on fourth Monday in October. Full report for 1896·97, with balance sheet, etc., was in V. 65, p. 723, 733 see also editorial, p. 704. Year end. June 301897. 1896. 1895. 1894. Average mileage..... 546 531 531 531 Gross earnings ....... $2,468,504 $2,457,359 $2,189,691 $2,101,318 Net earnings......... 758,615 869,659 667,094 647,083 Nettncome .....•..... 860,891 957,189 715,748 670,691 Interest on bonds..... 608,000 608,000 608,000 586,089 Rental, etc............ 121,521 107,751 67,485 75,252 Rutland & Whitehall RK.-0wns from N e w York Sta te line to Cas tleton, Vt., 7 milecJ. Leased Feb. l. 1870. in pe r·petuity t<> tb.e Rensselaer & Saratoga RR. (rental $15,342-6 per cent-on stock) and so op ~rated by Delaware & Hudson. _Saginaw Tuscola & Huron KK.-0wns Saginaw, Mich., to Bad Axe, 67 miles. Opened as a standard gauge road June 29, 18 J l. Common stock authorized, $600,000: par $100. No ti.rat mortg W''} bonds had been sold to January, 1895. but the $1,000,000 i~sued,. mortg a l{e trustee Continental Trust Co .. N. Y., w 1 r':l held as collateral for the floating debt of $1,148,270 on June 30, 1896. E .A.RNINGS.-9 months,? 189? . .... . ... Gross, $82,149; net $9,933J a n. 1 to Sept. 30. <189.> . ..... . ... Gross . 85.311; net. 17.016In yea r 1895 g ross. $114,171; net, $24,925. In year 1894 g ross, $118,596; net, $34,029. Wm. L. Webber, Pres., Saginaw. St. Clair :Iadlson & St. Loul8 Belt KK.-Projeoted to run from a point in St. Charles Co., Mo., to Belleville, Ill., about 40 miles via. bridge across tb.e Mii.sissippi River at Alton, Ill. In October, 1894, the l)ridge and 2mileR of' road were completed. The brid~e is 2,10.0 feet Total payments .. $729,521 $715,751 $675,485 $661,341 long- and laid for double·track. 'rhe O. B. & Q., Cleve1a.nd Cin. Chic. & St. L. and Missouri K. & T. roads use the bridge. Balance .......... sur.$131,370sur.$241,438 sur. $40,263 sur. $9,350 DEF.A ULT, E Tc.-Intorest due July 1, 1896, was not p aid, and on Ja.n • 65, p. 10, 278,616, 10<1, 723, 733,778, 1222. 15, 1897, J. F. Barnard was appointed receiver. No reorganization Rochester & Genesee Valley KK.-Owns from AVOn to Roches• pl a n to December, 1897. tel'-, N. Y., 18 miles. Lea.sad July 1, 1871, in perpetuity, to Erie Railway BONDS.-In a ddition to $500,000 first mortga"'e bonds sold, $1Ut>,UOO Rental, $34,012. James Brackett. President. Rochester. N. Y. are said to be outstanding a s colla teral for a lo a n of a bout $75,000. Kock I8land & Peoria Ky.-Owns from Rock Island, ill., to For year 189'>·96, gross, $22,870; net, $2,324. Peoria, ru., 91 miles; R. I. & Mercer County RR., 22 miles; branch, 5 Pre ident, E. F. Leonard, P eoria , Cll.; Secretary , B. L. Crosby: Jreasmiles; total 118 miles. In year ending June 30, 1897, gross, $567,62'i; urer, C. Hodgman, 300 Nortb. Fourth St., St. Loma, Mo. V. 6<1, p. 181. net, $143,881; other income, $9,915; inter est on bonds, $42,000; div• St . .Tohnsbury & Lake Champlain KK.-Owns Lunenberg,. idends (5 p. c.), $75,000; balan ce, surplus for year, $3 6,796. In 1895- Vt., to Maquan Bay, on Lake Champlain, 120 miles, and branch from '96, gross $620,566; n et , $90,395 . Divin.ends a t 5 per cent per a.nnum North Concord, Vt., to East Haven, 11 miles; total, 13 l mile . Tb.e road are paid; in 1892 an e xtra dividend of 10 p. c. was p aid ; in 1896 a n is operated independently although a majorlty of the stock is owned by extra dividend of 5 p. c. was p aid. President. R. R. Ca ble. the Boston & Lowell, leas ed to Boston & Maine. Horne & Clinton KK.-Owns road from Rome to Clinton, N. Y., In year ending June 30, 1897, gross, $353,645; def. under operating, 13 miles. Organized in 1.$69. Leased in perpetuity in 1891 to Delaware $36,342: def. under t A.x es and char~es l'or year, $107,913. In 1895·6, & Hudson Canal Co. and operated by N. Y. Ontario & W. Capital gross, $362,620; d e ficit under operating, $ 4,904. stock, $345,360. For year ending June 30, 1897, rental, $22,375; St .T h & G d I l d K LINE OF ROAD St Jo e h sundry expenses, $763; dividends (614 p er cent), $21,581; balance, Mo ...to &~:Ed Island~~'!b., 2s5:f~es. y.· s P ,. surplus, $3l. Total surplus June 3 o, 1897, $l 4 , 78 0, HIBTORY.-A reorganization Feb. 23, 1897 (per plan in V. 62, p. Rome Watertown & O~densburg HK.-(See Map New York 7 84,950), of the St. J. & Grand Island Rai l?·oad, sold in foreclosure. Oentral ~ Hudson River Railroad.J-Owns from near Niagara Falls to The Union Pacific does not retain its interest in the stock of the comMassena Springs, N. Y., 299 miles, less 28 miles, Richland to East p any. Osweg9, leased from the Oswego &Rome RR.; Richland tC' Rome.41 miles: STOCK.-A v otingtrust will retain control for the first preferred stock branches to Caye Vincent, Ogdensburg, Pulaski, Fulton, etc.. ~4 miles i for five yearR, unless the tirst preferred stock pays full dividends fortotal owned,,.....(' tniles. Leases Utica & Black River Railroad", Utica to three consecutive years; after which the control shall rest with the Ogdensburg, and '--1ayton branch, 150 miles; Oswego & Rome Railroad tirst and second preferred stocks, and shall so continue for three years as above, 28 miles; Oartha~e Watertown & Sackett's Harbor, 30 m.; thereafter, after which all stocks shall be entitled to equal vote. Vottotal, 624 miles. Also trackage-to Niagara Falls, 2 Llliles; Fulton to ing trustees are F. P. Olcott. ,T. Kennedy Tod and Gordon Abbott. Th& East Oswego New York Ont. & Western 12 miles. first pref. stock was issued mainly for old firsts and asse sments. 8 0 a~E~~e~!is t~ ~~~1or~°a~~fri{8&0 Ry~~t~ft~ DIVIDEND .-On first preferred, in 1898, Jan., 212 p. c. (first div.) h d bt d - see V. 65, p. 1222. Co., w hioh assumes t e e an guarantees 5 per oen.t on the stock. BoNDs.-The 1st mortaage is for $5,000,000 of gold bonds dated For wording of guaranty see V. 52, p. 463. Stock increased $500,000 ,., (to $10,000,000) in May, 1894. Earnings are included in lessee's. Jan, 1, 1897, and hearing interest at 2 p. c. for two years, 3 p. o. forthre& year s and thereafter 4 p. c. Bonds for $500,000 reser ved for uses of DIVIDENDS.-From 1887 to February, 1891, both inclusive, at rate of 6 new company cannot be issued to exceed $100,000 yearly, and $1,000,per cent yearly; March, 1891, 20 per cent in stock; in May, 1891, and 000 can be sold only for new mileage at not exceeding $6,000 per mile; thereafter 5 ~er cent per annum guaranteed. trustee, Central Trust Co., N. Y. See application for listing on N. Y. BoNDs.-On June 30, 1895, equipment trust obligations were $333,· Stock E x change in June, 1897, in V. 64, p. 1138. 828. Utica cf Black River is leased in perpetuity, interest on bonds EARNINGS 5 0 th ? 1897 G $547 -!98 t $220 018 and 7 per cent on stock being guaranteed.. The first mortgage bonds of July 1 t~Nov~30. s,, 1896::::::::G~g::; 352;418 ~ ~:t: 82:526 1890 are guaranteed, p. and i , by the R. W. & O. See V. 50, p. 771. A R F' d J N d The Oswego ~ Rome road is leased in perpetuity, and the second NNUAL EPORT.- isca1 y ear en s une 30. ew C?Ompany assume mortgage bonds guaranteed by Rome Watertown & Ogdensburg. contr(?l Ma~ch 1, 1897, and first r eport to June :i 0, w:1th balance sheet,~ Carthaee Watertown & Saokett's Harbor is leased for 37¼ per cent: wa given m V. 65, p. 774 . For th~ 12 months endm~ June 30, 1897, of gross earnings. (V. 53 p. 713 793 1015· v. 57 p. 1124 • v. 58 p. 733.) gross, $939,087; net, before deduc~mg taxes, $280,6~6. ' ' ' • ' ' ' The tixed annual charge, previously $420,000, will be for the first Rutland RK.-Owns Bellow's Falls, Vt., to Burlington, Vt., 120 two years from Jan., 1897 (inoluding charge on $500,000 reserved miles, and leases the Addison RR., Leicester June., Vt., to Ticonderoga, bonds), $80,000; followin~ 3 year.s, ,t;U0,000; after 5 years, $160,000. N. Y., 16 miles. The road was leased tor 999 years from Jan. 1, 1891, For year ending Dec. ;-sl, 1896, gross, $724,170; net available tor to Central Vermont (i,ee V. 53, p. 124), but in March, 1896, receivers interest, $88,020. In 1895 gross. $614,078; net, $13,594. were appointed for tha t company and on May 8 the Rutland RR. DIRECTORS.-(February, 1897>: President, William L. Bull; Vice. assumed control of its own road. President, Henry Budge: F. P. Olcott, J. Kennedy Tod, Gordon Abbott, BTOCK.-The Delaware & Hudson owns $3,000,000 of the preferred C. H. Shaffer, Henry M. Robinson, U. G. Life and Edwin McNeil. a.nd$1,000,000ofthe $2,<180,600 common stock, par$100. Treasurer, Henry Budge; Sec'y, W. :,. Wilson.-(V. 65, p. '7'74, 1222.) DIVIDENDSonpreferredstookinl884and1885,l;in1886andl887, st. Lawrence & .-dlrondack .. y.-From Malone, N. Y. (on 1¼; tn 1888, 1; in 1889, 1¼; in 1890, 3; in 1891, 2; in 1892, 4; in 1893, Mohawk & Ma.lone) to Caughnawaga, 56 miles, connecting there witb 4 ; in 1894, 4; in 1895, 4; in 1896, 2; in 1897, 2; in 1898, Jan., 1 p. c. the Canadian Pa Jiflo at its St. Lawrence River bridge ror Montreal. BONDS.-The second mortgage ls a first lien on rolling stock and per· HrSTORY.-A consolidation in 1896 of the Ma.lone & St. L., St. L. & sonal property. The consolidated mortgage (trustee, u. s. Trust Co. Adirondack Ry. and Southwestern Ry. All the old bonds have been of N. Y.,) is tor $3,500,000, but of this $3,000,000 can be issued only retired. V. 63, p. 116. Stock increased in 1897 from $1,090,000 to as prior bonds for like amount retired. On July 1, 1897, notes payable $1,300,000. For year ending June 30, 1896, gross, $116,258; net, were $20,000. $3,695: otherincorne, $32,000: charg-es $33.~27; bal., sur., $2,368. PresiREPORT.-Report for year endin!{ June 30, 1897, w a s in v. 66, p. dent, W. Seward Webb. (V. 63 , p. 3 o, 116 -> 131, showing: Gro 8 , $713,514; net, $273,821; othn income, $31,B47 ; St. Louis Alton & Terre Haute K R.-See ILLINOIS CENTRAL interest and rentals. $203,921; t axes, $12,589; dividends, $42,391; St. Louis Avoyelles & Southwestern Ky.-Owns from balance, surplus for yea r, $46,767. See also Mr. Little'sre port.-V. 64. Bunkie to Simmsport, La., wi t ll hranoh. :·H i mile~ ia all. Completed in p. 606. President,Percival W.Olement.-(V. 64, p. 85; V. 66, p. 131.) May, 1896. H.J. Fitch and H. H. Youree, receivers. .-,v. ~:~~:r fle https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis rJ3:tJ .~. INVESTORS' SUPPLEMENT. [VOL. LXVI, Subscribers will conCer a great Cavor by giving Immediate notice oC any error discovered In these TalJles. Boncls-PrincC RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Due· Amount of Par For explanation of column headings, &c., see notes of Rate per When Where Payable and by Stocks-Last on first page of tables. Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. ---· St. Lawrence & Adirondack Ry.-Stock ..••...••.... $100 $1,300,000 l,OUO 1st m()rtgage, $800,000, gold..... . ... .••.... . ... c* . 56 i896 800,000 (1) 2d mortga11;e, $100,000, old .................... . 56 1 896 (1 ) -St. L. & Ad. Equipment o., e1uipment mort .... .... 1896 .-Bt. Louis Alton & Te1'1·e H.-See LLINOIS CENTRAL. (1) 36 1895 St. Louis Avo11elles & S. W.-lst mortgage~old .... Bt. Louis ct Oairo--lst M., gold, int. guar. . & O .. c 161 1886 500·&0. 4,000,000 1880-5 1,000 111,000 Bt.L. owe Girard'u & Ft. Smith-Old div'l bonds, g. 1,000 535,000 C~e irardeau B.W. consol. mortgage ....... gold ·94 1888 1,000 10,000 rkansas Extension 1st mortgage, gold . .. c*&r 65 1890 1,M0,000 Bt. Louis Ohic. ct St. Paul Ry.-Stock, $1,500,000 .. ---··· 1 ,5 0(),'100 1,000 1897 1st mortgage, $1,500,000, gold, llie ........ ... xc* 1,000 1,235,000 2d mortga~, income 6s, non-cum., gold, A. . . . xc* .... 1897 1,000 200,000 St. L. Ind. ct .-Pr. lien M., $300,000 g., red. at par ··-· 1896 18~0 1,000 790,000 1st moriage, $5,000,000, gold .................... 1886 890,000 .St. Louis ansas <t &outhwestern-lstmort.,!old. 20 1891 135,000 ·st. Lonis Kennett & Soidhern.-Ist mort., gol ... c* 1,000 25 1894 150,000 Pemiscot Div. lstM., gold, U. St .............. . c* 1,000 20 1897 70,000 ·Kennett & Osceolo RR. 1st M ., gold, u. St .... c* Bt. Louis Merchants' Br. Term.-lst M., gu.p.&i., g . c 1890 500 &e. 3,:500,000 1,000 Merch. Bridge 1st M., red.after Feb.1, 1909, at 110 1889 2,000,000 . (1) 100 St. Louis Peoria d! Northern-Stock, $5,000,000 .... ·-·-St. Louis & Peoria, 1st mortgage . .... . ••......... ..14 1889 18 2,000 1,000 2,140,000 ht mortgage, ~old, $5,000,000, c ............ c*&r .... 1896 (1) Mt. Olive Coal Co. 1st mortgage . ................ ---- 1889 100 26,425,980 .... .St. Loiti.'I &; San Francisco .R.R.-Com. stocir ... 1,162 100 1st preferred stock, 4 per cent, non-cum ......... 1,162 5,000,000 100 16,000,000 2d pref. stock. 4 per cent, rum-cum., $16,000,000 1,162 500,000 2d mort. (now 1st), A, gold} (Pacific to Beneca,c* 294 i876 100 &c. 2,726,500 do Series B, gold...... Mo.,& branches, e* 294 1876 :500 &c. 2,400,000 do Series C, gold...... 294 miles. c* 294 1876 500 &c. 1,000 1,035,000 Mo. &W. Div. lstM.,g.,$5,000yearlydr.at 105 .. c* 82 1879 ----·· -----· 5 ---· ---· ---------- i:ooo ------ ---------·- ---· ...5.g. ..&•. J. J. N. Y., c~-~ii Trust Co. Juiy · 1,--i996 6 g. J. & J. do do ........... ----·· 5 4 6 6 6 g. g. g. g. g. ----- A. J. M. M. J. --------·· ···:fg. M:·&·N. 6 6 5 6 6 6 6 5 ...... ·--------·--------- g. J. & J. Iiiiierauit. g. M.& s. ---------g. M.& s. See tbxt. g, F. & A. St. Louis, Mo. g. A.& o. do g. J. &D. do g. A. & 0. N. Y.,F'rs L.&Tr. & Bt.L. 6 F. & A. N. Y.,Farm.L.&Tr.Co. ----·· ...5.g. 5 ...... Text. ...6.g. ·····--· & 0. April,'96, coup. unpaid. 1925 & J. N. Y.,Farm. L. &Tr.Co. Jan. 1, 1931 & 8. In default. Sep.1900-1-2--5 & B. In default. Sept. 1, 1908 & J. Iu default. Jan., 1910 ----- N ov...i,..i927 Nov. 1, 1927 Mch. 1, 1940 Mch. 1, 1940 Sept. 1, 1916 Feb. 1, rn21 1914 1917 Oct. 1, 1930 Feb. 1, U}29 . 11fa·9. Semi-an N.Y.,Mait.,Coppell & Co M.& N. do do May 1, 1936 M.& N. do do ... ...... --------- Check·s maiied. Jan:·3;;os: 2% York: M:·&·N. New ·Mercan. Tr. Nov:1,..fao 6 6 g. M.& N. do do Nov. 1, 190 6 6 g. M.& N. do do Nov. 1, 190 6 6 g. F. & A. do_ _ _do 1, 191 _ _ _ _ _ _ __;_.=..:....;__.;__......::...._...:......_ _ _ _ _ _ _ _ _ _ _; - -_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Aug. _:::..__...:......_9 St. Louis & Cairo RR.-(SeeMapMobilect Ohio.J-Cairo to East Bt. Louis and branch, 161 miles. Reorganized after foreclosure JUly, 1881. Stock is $6,500,000. Lea:,ed from Jan., 1886, till Jan. 1, 1931, to the Mobile & Ohio RR ....:...rental of 25 per cent of 150-640ths of the gross revenue of Mobile & Ohio 1rom Mobile to E. Cairo and branches, of St. 1L. & c. from Cairo to E. st. L. & branches, this rental being guaranteed by the lessee to amount to $165,000 per year. Rental for year ending- June 3n, 1897, $209,169. Dimdends.-In 1893-4 14 p. c.· in 189-1·5 14 p. c.· in 1895·6 1-0 p. c. , ' ' ' Ison Coal Co. and Mt. Olive Co. The a capacity of 6,000 tons per day. ' St. Louis Cape Girardeau & Fort Smith Ry.-Owns from Cape Girardeau, Mo., to Hllilter, Mo., 94 miles; leases branch to Zalma, 9 miles; total operated, 103 miles. Successor in 1891 to Cape Girardeau Southw. March 4, 1893, Louis Houck was appointed receiver. It is thought that the mortgages on the property will be foreclosed and the road reorganized and extended into northwest Arkansas. SECURITIES.-In May, 1896, $50,000 receiver's certificates were authorized (with the consl'nt of $310,000 consols) for steel rails tbut in April, 1897, n() certificates were outstanding. Stock out outstanding, $1,150,000; par $100. A general mortgage for $7,500,000 was authorized. There are also outstanding $150,000 7 per cent incomes. Ca1>e G. & S. W. consol. 6s for about $850,000 are represented by the Consol. Bondholders' Committee; depositary. U.S. Mortgage & Trust Co., New York. EARNINGS.-For year ending Dec. 31, 1896, gross, $113,048; net, $1,082. No interest paid. In 1895, gross, $112,713.-V. 63, p. 407. St. Louis Chicago & St. Paul Ry. oCilllnots.-RoAD-Owns from Snringfield, Ill., to Granite City, ill., 103 mile3; branch to Grafton, 8 miles. Connects at East St. Louis with Terminal Ry. for St. Louis, etc. A reorganization (per plan in V. 64, p. 708) of the St. L. C. & St. P. Railroad sold in foreclosure April 3,1897. Capital stock, $1.500,000. BONDS.-The first mortgage covers all the property, franchis es, etc., .and also $50,000 sto<'k and $50,000 bonds of Alton Terminal Ry. EA.RNINGS.-In year ending June 30, 1897, gross, $306,689; net, ,$24,870. In 1895-96, gross, $290,727; net, $34,975. In 1894-95, gross, $238,223; net, $51.684; charges, $97,805; balance, df\ticit, $46,· 121. President, Charles E. Kimball, New York.-(V. 65, p. 730; V. 66, p. 135.) St. Louis Indianapolis & Ea8te1·n KR.-Switz City, Ind., to Effingham, Ill., 90 miles. Organized in 1890 as successor to the Indiana & Iilinois Southern RR., sold in foreclosure, but the property is still operated uader the old name. Capital stock issued is $740,900 (par $100), of which $1,900 is common; authorized $6,792,000 common aud $1,528,000 of 5 p. c. pre· ferred. Mort~aQ~ trustee, Central Tr ,1sli Co., New York, and Medford B. Wilson, of Inaianapolis. Year ending Juna 30, 1896, gro s, $71,130; -deficit from operatin~, $8,102; interest and tax:e , $30,9 n; balance, deficit for year, $39,043. President, W. H. Alley, Sullivan, Ind. !lilt. Louis Iron lUountaln & Southern Ry.-SEE MISSOURI PACIFIC RAILWAY S YSTEAI, St. Louis Kansas & Southwestern RR.-A.rkansas Citv to Anthony, Kan., 59 miles. In October, 1897, the St. Louis & San Fran•Cisco was giving $1,800 of its common stock for $1,000 St. L. K. & S. first mortgage 6 p. c. bond.-V. 65, p. 730,925. St. Louis llierchants' Bridge Ter.tnlnal Ry.-ORGA.NIZA· 'U'ION.-Organized to construct a double·track railroad in the city of St. Louis, extending from near the Union Dt'pot on 12th Street, via Main Street, Hall Street, &c., to Ferry Street opposite the Merchants· Bridge, 7 miles. It owns and controls the Madison Ill. & St. L. Ry., connecting the town of Madison and East St. Louis, 8 miles; and leases the Venice & Carondelet Belt RR., which forms an outside belt round East St. Louis, 10 miles; total, 25 miles. It leases the Merchants' Bridge, agreeing to pay the interest on the Bridge Co's $2,000,000 bonds. BONDS, ETc.-The mortgage of 1890 is for $3,500,000 to the St. Louis Trust Company, as trustee, and the bonds are guaranteed prin· oipal and interest by the Terminal RR. Association of St. Lollis. Both issues of bonds are subject to call after 20 years at 110 and interest. Stock authorized, $3,500,000; issued to July 1, 1895, $2,939,500; par, $100. On Dec. 31, 1896, there was due to Terminal RR. of St. Louis ,$868,489 for advances under its guaranty. In Nov., 1893, Terminal RR. Association of St. Louis acquired control or this company and guaranteed by endorsement the principal and interest of its $3,500,000 first mort. bonds and the interest on the $2,000,000 Merchants' Bridge first 6s. The properties are opera.tedjointly. EARNINGS.-Report for year ending Dec. 31, 1896, was in V. 62, p. 362. In 1896, p;ross, $609,586; net, $86,375 over rentals; interest charges, $199,011; balance, deficit for year, $112,636. In 1895, gross ..earnings, $602,475; deficit under interest. rentals, etc., for year, .$151,428. In 1894, gross, $536,657; net, $210,135. In 1893, gross, :$450,454; net, $139,886. (V. 62, p. 362,) st. Louis Peoria & "1orthern Ry.-Road runs from St Louis, Mo .• to Springfield, Ill., 99 miles, of which 83 miles is owned and 14 miles from Glen Carbon to St. Louis is trackage. Extemlion proposed ·-via Peoria and Pekin to East Clinton, Ill., 251 miles from St. Louis. HISTORY.-A consolidation July 1, 1896, of the St. Louis & Ea!>.tern, :St. Louis & Peoria, North & South RR. of Ill. railroads and the Madi· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis coal properties are said to have . Bo~os .-First 5s of 1896 re~erved as f~llows: .$182,000. for St. L. & Peoria firsts;, $l~0,000 to b~ild or acqmre a lme from _Glep. Car~on to ~ erchants Bridge, _S t. Lou1_s; balanca at $20,_000 per mile, mcludmg eqmpment ror each ~mle acqmred 11:orth of Sprm~eld, Ill. The mortg age covers tpe rail.road, its eqmpme~t. about 4,50_0 .a'?res. of coal, etc., as stated 1~ V. _6..,, p. 1179, the ~ad1son c,,al 90. Jomm1pn mortgage and pledgmg its property and mcome. President, Wm. E. Guy, St. Louis, Mo.-V. 62, p. 86,591,613, 1012.1179.) St. Louis & San Francisco RR.-(SeeMap.J-Embraces: Lines ownedMiles. Miles. St. Louis, Mo., to P<1ris . TtlX. 584 At . & Pac. RR., Cent. Div., M ,1nett, M ,., to Seneca., Mo . 45 j Seneca.Mo ,tn Sa,pulpa, I.T. Pierce City,Mo.,toWichita.,K. 2 L7 (purchased July, 1897) ..•. 112 Bra1<·hes to Bolivar, etc ..... 201) Beaumont to Cale, K>1n . ... .. 62 St. L mis Salem & Ark. R ~.. 54 I I Total owned June 30, 1897.1,1621 Total system .•••.......••. 1,274 ORGANIZATION-Organized June 30, 1896, to succeed t'> the property ani franc :iises or the Railway comilsoy so .din fore ;losu e and reorga lized oer plan iu V. 6 !, p, 829 and 114u-see also p. 742. The new company elected not to take the stock a1d leases of the St. Louis Kansas & Southwestern (whose bonds were offered $1,800 in St. L. & S. F. common stock for each $1,000 bond, in Oct., 1897. V. 65, p. 730,925), a nd Kans ,s Mi tland. See V. 65, p. 925. Centrnl Division of Atlantio & Pacific, 112 miles, was purchased in July, 189 7.-V. 6 , , p. 150. A 25 -year agr eem :mt w as made with K. C. Osceola & Southern RR. in November, 1897; that road ruus from K a n sa s City to Osceola, 112 miles, and will build from Osceola to tho St. L. & S. F. at Bolivar, Mo., 40 miles, making 152 miles iu all. V. 65, p. 879, 926 . STOCK AND VOTING TRUST.-As protection to the new mortgage bonds, all classes of stock (except shares to qualify directors) are vestert in the following voting tru,itePs: John A Stewart, Louis Fitzgerald, J. Kenn ldy Tod, Isaac N . Sellgm tn. o eniamin P. Clleney, Samuel {', Eastman and Jame3 A. Blair, to be held by them a,nd their successors jointly for fl. i'e years, and for such further period (If any1 as shall elapse befo ·e the first prererrei stock shall have received a 4 per cent cash dividend for two con-,ecutive years, although the voting trustee3 may, in their discretion, deliver tlle stock: at any earlier date. but not in any event prior to Jan. 1, 1902, save with the consent of the holders of at least two•thirds in amount of the heneflc al interest certificatt'IS of each class. Voting trust is dated July 1, 1896, No additional mortgage can be put upon the property, nor the amount or the firat preferred stock autllorizerl be incre ,sed except with the consent, in each instance, of the holders of a majority of tbe whole amount of each class of preferred stock and of a majoritl' of such part or the common stock as shall be represented at a meeting. The new company reserves the right at any time to redeem either or both classes of its preferred sto .k at par in cash. Provisions of the voting tru t and preferred stock certit1ca1 es were given in SUP· PLEME T of April, 1 97, page 6. Common authorized, $29,000,000; listed on N. Y. Stock Ex. to Jan. 17, 1898, $26,425,980. DIVTDENDS.-On first prefe1·1·ed, fir t dividend, 2 p. c. in July, 1897; in 1898, Jan., 2 p. c.-see V. 65, p. 1072. BONDS-The consolidated mortgage (trustees, Mercantile Trust Co . N. Y., and Paschal P. Carr, or St. Louis) for $50,000,000 (abstract in V. 64, p. 18 6,) rs secured upon all propertie!'. and securities embraced in the reorganization and also all other property hereafter acquired by use of any of the new bonds. Enough new bonds at the rate of 80 per eent (approximately $39,072,000) are reserved for the retirement of all outstanding undismrbed issues. The bonds not required for reorganization will be reserved for betterments, equipment, etc., to an extent of not exceeding $~00,000 in any one year. No compul• sory redemption of the new bonds can be made prior to their maturity.- Bee V. 64, p. 182. The Soutliwe tern Division bonds are secured on the 112 miles old Central Division of Atlantic & Pacific purchased in December, 1897.V. 66, p. 83. GENERAL FINANCES.-By reorganization tbe fixed chllrges were reduced from $2,531,674 to $1,994,330. exclusive of the interest upon bonds which may hereafter be issued to acquire $4,032,000 branch line bonds. EARNINGS.-5 months, ?. 1897 .... Gross, $3,06?,032; net, $1,399,~53 July 1 to Nov. 30. 5 1896 .•. Gross, 2,62;>,464; net, 1,212,,09 ANNUAL REPORT.-Fir t annual report of reorganized company was given at length in V. 65, p . 779. See also editorial p. 758 . 1896-97. 1895-96. 1894-95. Gross earnings . ....... . ......... $5,993,::l36 $6,162,055 $6,081,424 Net, earnings . ....................... 2,509,708 2,416,507 2,539,291 Ratio of operating expenses to (60·78%) (58·25%) gross earns........................ (58·13%) 215,793 Taxes................................ 171,257 202,504 0 B.1.lance for charges ....... . .... $2,338,451 $2,200,714 $2,336,787 JANUARY , 1898.J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOOKS AND :BONDS. fv1ap of v1s SAN F 19 sr. AN~~~~2!~ RANCJSCO AND LINES . 12# INVESTORS' SUPPLEMENT. f Vot... LXVI. Subscribers -will conf'er a great f'avor by giving immediate notice of' any error discovered ln these Ta_ltles. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Princi Miles Date Size, or Amount r pal,WhenDne For eX}la.nation of column headings, &c., see notes of of Par Outstanding Rate per When /Where Payable, and ey Sto~ks-Last cm first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. Bt. Lou-it & San Francisco-( Ooncluded)- Bt. L. &Ban F. col. trust ~old, sink. fa. not drawn. o• 104 Gen. M:., g. (1st on 36 m.) $7,807,000 are 6s.c* ---57 Colla Tr. M. on br'ches ($20,000 p. m.),gold .. c* New <onsol. mort., $50,000,000, gold, no opt10n l,16~ SouthW\st Div. M. $1,500,000 red. at par, g .Cc* 112 Bli. L.WilJl. &W. lst M., red. at 105,gold ......... c* 145 Ft. 8. &VB.Bridge lstM.,g.,d:r.at 105,guar.p.&i.c* .... St. Louis S.loam & Southern--lst M.,$8,000,000, g. ..... Bt. Louis &uthwesl.ern-Common stock ...... . ...... Prererredstock (5 per cent non-cumulative), ..... 1st mort.~ertifl.cates, $16,500 p. m., gold ...... o* 1,•i22 2d M. incone cert., $10,000,000,non-cum., gold.c* 1,222 Car trusts July 1, 1897 .. . ...... -- ................. Gray's Pt.rerm'l,lstM.,gu.,p.&i.e.g.,S.St ... c&~r St.Louis Va, ctTerreH.-latM., guar. s.f. notdr.c" i58 2d mort.• si.\k. fund, not dr'n ($1,600,000 guar.) .o* 158 Car trust mtes (Oct. 31, 1896) .................... ..... Bt. Paut cl Dwuth-Oommon stock .................. .... Pref. 7 per omt stock and scrip subj. to call at par 1st mortgagi ..................................... c• 167 167 i!;ti::a~f~~-ia1re·sui>.: 21 Duluth ShortL. lstM, t'rar.,p.&i.,s.f. not dr'n.c* 25 Stillwater & 8;. Paul ls mort., g. (not guar) ...... 12 St. Paul Minn. Ii.Manitoba-See Grea'; NorthemRt. Paul cl No. Pwijfo-SEE No. PACIFIC RR. Salt Lake ti Los..tngeles-latmortgage (text) .... c .::!an Antonio & Aiansas Pass-Stock ................ ........ 1st M. for $21,6)0,000 g., guar. n. & i. (end.) .c*&r 687 Equipment trus-. notes Jan. 1, 1896 .............. --·- 6g F. & A. $1,000 $976,000 1,000 20,100,000 5 & 6g. J. & J. 5 g. A. & 0. 1,000 1,099,000 4 g. J. & .T. 1,000 6,412,350 5 g. A. &O. 1,000 1,500,000 6 g. M.& 8. 1,000 2,000,000 308,000 1,000 6 ~- A. & 0. 5 g. M.& N. 100 Jan '98,none 100 16,500,000 ...... ...... ........ 100 20,000,000 M:·&:N . 1,000 20,000,000 1890 J. & J. 8,000,000 1890 500&c. 4f' various 294,558 6& 1891 various Jan '98,none 5 g. J. &D. 1897 1,000 See text. J. & J. 1867 --···· 2,600,000 M.&N. 1868 7 1.000 . .... 53,156 ...... 1892 100 4,660,207 .... 4,792,686 5:in°i897 M:·&:·s. 100 F. & A. 1,000 1,000,000 5 A. & O. 1,000 2,000,000 5 1887 J. & J. 210,000 1,000 6 1884 M.& 8. 1,000 500,000 5 1886 209,500 J. & D. 1870 MO &o. 7 1880 1881 1887 1896 1897 1879 1881", 1896 -----...4.g. ------ ·--- issi ·iaiid:: g1i~;ti:r:iioicii-:~: ---· 1893 .:sgs ---- 1,000 100 1,000 ------ In 1896-97 'lther income $7,066, making total net $2,345,517. In terest on bo:r.ds $1,994,524; rentals, etc., $19,926; dividend on 1st preferred (2 pc.), $100,000. Balance, surplus for year, $231,067. OFFICERS-Ii. B. Robinson, President; B. F. Yoakum, Vice-President and General Manager: Frank H. Hamilton, SeQretary and Treasurer; Alexander Donglas, General Auditor. DrnECT0RS-\Nov., '97)J. K. Tod, Isaac N. Seligman, J. A. Blair, E. c. Henderson, Frfil'k Strauss, of New York; Benj. P. Cheney, Samuel C. Eastman, of CGncord, N. H.; Charles S. Gleed, Topeka, Kan.; Geo. A. Madill, Richard C. Kerens, Daniel B. Robinson, St. Louis; Henry K. McHarg, and Riehard Olney.-(V. 65, p. 1222; V. 66, p. 83.) St. Loub SI.loam & southern KK.-In July, 1896, filed a mortgage to the United Statea Mort. & Trust Co. and Thos. Jefferson Portis, trustees, tl> secure $8,000,000 bonds , for construction of road from Fort Smith, Ark., to St. Louis, Mo. Col. H. D. Mackay of St. Louls, Presidunt. (V. 63, p. 30.) St. Louis Sou1b.-w-estern Ky.-Road extends from Bird's Point, Mo., opposite Cairo, ID.. to Texarkana, Tex., 418 Iniles, and thence by th~ Texas road to Gatesville, 305 Iniles; total, main line. 723 miles; brdnohes, Mt. Pleasant to Sherman, 110 Iniles; Tyler to Lufkin (narrow, gauge), 88 Iniles; Corsicana to Hillsboro, Tex., 40 Iniles; Commerce to Fort Worth, 97 miles; Lewisville, Ark., to Shreveport, La., 60 Iniles; Altheimer to Little Rock, Ark., 42 Iniles; Malden, Mo., to Delta, 51 miles; other branches, 12 miles; total, July, 1897, 1,223 Iniles. Of this total 24 miles are laid with 75-lb. steel; 1,062 miles with 56-lb. steel rails; remainder 35-lb. Has trackage rights to Cape Girardeau, 15 miles.-V. 62, p. 591.. ORGA.NIZA.TION.-Reo:rganization per plan in V. 50, p. 141, 561 of St. Loma Arkansas & Texas, sold in foreclosure in October, 1890. Consists of three corporations-the St. Louis Southwestern Railway Co., the St. Louis Boutnwestern Railway Co. of Texas and the Tyler Southeastern. BONDS.-The ffrst mortgage certificates are issued against a like amount of first mortgage bonds secur.e d upon the constituent lines at a rate not exceeding $16,500 per mile, and the second mortgage oertifioalies agai.nst second mortgage bonds at $8,250 per mile. The incomes are entitled to such interest up to 11 per cent per annum, as can be paid out of net earnings of the railways during the preceding fiscal year, after payment of operating expenses, repairs, renewals, replacements, taxes, insurance and interest on prior liens. The issue of t hese certificates may be increased up to $10,000,000, subject to re. striotions tn the mortgages. No 2d mortgage intereRli has been paid. Gray's Point Terminal Ry. was incorpora~d in May. 1896, to build from Delta to Gray's Point. 15 miles, and in August, 1897, authorized $500,000 of bonds at $15,000 per mile, which are guaranteed by the St. L. Southw., principal and interest. St. L. So. W. owns all capital stock.- (V. 65, p. 413.) July 1, 1897. current liabilities, $678,507; notes payable, $377,500. There are some 8t. L. Ark. & Texas car trusts outstanding. Current assets, $524,811, including $247,877 materials and supplies on hand; there are also in treasury $140,000 (at par) St. Louis South western fl.rats and other securities valued in all at $275,250. LATEST EARNINGS.-Jan. 1 to Dec. 31, 12 months, gross, $!,884.114 n 1897; $4,883,251 in 1896. ANNUAL RRPORT.-Annual meeting is held at St. Louis, Mo., on the first Tuesday in October. Report for 1~96-97 was in V. 65, p. 564. Year ending June 30- 1897. 1896. 1895. 1894. Miles operated......... 1,223 1,223 1,223 1,223 Gross earnings ......... $4.-743,546 $4,904,489 $5,217,175 $4,61!'>,145 Operating expenses... 3,855,888 4,132,375 3,977,221 3,873,778 300,000 5,000,000 18,886,000 352,575 6 ...4.g. ........ J. & J. J. .&.. J. ..... N. Y., United States Tr. N.Y., Mercantile Trust. N. Y., Union Trust Co. N. Y., Mercantile Trust. New York, N. Y., Mercantile Trust. do do N. Y., U. S. Mort. & Tr. --- -·-··· Aug. l, 1920 July 1, 1931 Oct. 1, 1987 July 1, 1996 Oct. 1, 1947. Sept. 1, 1919 Apr. 1, 1910 1946 ·-·· N. Y., Central Trust Co. Nov."·i.--i989 When earned. N. Y.,Central Trust Co. St.L. ,St. Louis Trust Co. N. Y., Central Trust Co. do do ·········· N. Y., Of., 32 Nassau St. do do do do do do do do do do do do Nov. 1, 1989 To 1903 Dec. 31, 194'7 See text. May 1. 1898 T o Oct.I, 1898 July 5. 1887 sep.1,97, 2½%Aug. 1, 1931 Oct. 1, 1917 Jan. 1, 1914 Sept. 1, 1916 Dec. 1, 1900 Salt Lake City. Jan. 1, 1913 N. Y., Cent. Trust Co. Jan:·1,'"i943 . .......... .......... dorsed and were purchased Jan. 1, 1897, at maturity by the Pennsylvania RR. Co. V. 64, p. 420. As to retirin~the $2,600,000 second' mortgage bonds at maturity May, 1, 1898-see v. 65, p. 368, 572. Liabilities for freight cars on Ooti. 31, 1896, amounted to $53,156. ANNUAL REPORT.-Report for year 1895-6 in V. 64, p. 420, showed: Yr.end.Oct.;H. Gros11. Oper'gexp's. Net. Rental. 1896 ........... $1,613,638 $1,426,827 $186,811 $484 ,092 1895 ........... 1,735,049 1,463,068 272,881 520,785 The payments from income of $484,11:)7 in 1896 were: Taxes, $61,462; interest-, $314,930; car trusts, etc., $21,220; dividends, $108,129; balance, deficit, $21,544. Loss to lessee in 1893-94, $120,:W2; loss in 1894-95, $247,902; loss in 1895-96, $297,279.-(V. 65, p. 572.) St. Paul & Duluth KK.-Owns St. Paul, Minn., to Duluth, Minn., 155 miles (less 9 miles not operated); branches, 29 miles; leases-Stillwater & St. Paul RR., 13 m.; Minneapolis & Duluth RR., 13 m.; Taylor's Falls & Lake Superior, 20 m.; Minn. & St. Louis, 6 m.; Duluth Short Line, Thomson to West Superior, 18 m.: total, 245 miles. Second track, 17 m., sidings, etc., 128 m., July 1, 1897. Between Carlton and Duluth, 24 miles, road is owned jointly with the Nor. Pacific, but of this 14 miles between Thomson and WeRt End is but little used. the Duluth Short'Line affordin~ the St. P. & D. access to Duluth. Uses Minn. & St. L. terminals at Minneapolis. HrsTORY.-Sold in foreclosure May 1, 1877, and ret0rganized. CAPITAL STOCK.-From the earnings of the railroad the preferred stock has a prior right to 7 per cent yearly, then common to 6 pe:r cent, any surplus going to retirement of preferred. The preferred stock is also received m payment for lands at par, and is entitled to receive from land sales any part of its 7 per cent dividend yearly for which railroad earnings do not suffice. The preferred is subject to call at par for redemption with land sales, after drawin~ by lot, if not purchasable below par in the open market, the sums applled to its redemption and retirement being as follows: In 1891, $182,000; 1892, $226,000; 1893, $165,000. V. 57, p. 61. Three shares of common stock have one vote and each share of preferred has one vote. DIVIDENDS.-~ 1884. '85-'88. 1889. 1890. '91-'93. ' 94 to Sept. '97 On pref.-p. c. 5 t3¼ 7 yr'ly. 5¼ 6¼ 7 yr'ly. 5 yearly. On common-In 1887 3 and 15 in common stock f And 7 % stock LA.Nos.-The company has a land grant, of which 980,472 acres remained unsold June 30, 1897, and 57,952 acres of the Taylor's Falls branch grant. In year 1896-97 sales from company's grant were 32,089 acres for $153,230, and gross cash receipts were $142,894 (of which $52,554 from stumpage): net income, $10!,418. LATEST EARNINGS.-Jan.1 to Dec. 31, 12 months, gross, $1,608,589 in 1897; $1,537,461 in 1896. ANNUAL REP0RT.-Fiscal year ends June 30. Annual meeting at St Paul second Thursday in October. Report for 1896-97 in V. 65, p. 774· Year end. June 30- 1897. 1896. 1895. 1894. Gross earnings ....... $1,564,104 $1,587,863 $1,423,307 $1,513,393 Op. expen. and taxes. 1,203,051 1,280,524 1,060,915 1,104,351 Netearnings ........ $361,053 Total net income...... $'120,946 Rentals paid.......... $134,558 lntereston bonds .... 150,000 Dividends ............. (5) 239,505 Miscellaneous,........ 14,604 $307,339 $362,392 $409,042 $3tl5,439 $402,6E0 $452,535 $130,819 $119,944 $140,796 150,000 150,000 150,000 (5)239,505 (5) 239,475 (6) 293,406 53,523 68,003 16,766 Bal.from RR. oper.df.$117,721 df.$188,408 df.$174,772 d!.$148,433 Stumpage and lands.. $104,418 $242,483 $116,652 $ l 14,856 $741.367 -(V. 61, p. 658; V. 63, p. 647,715; V. 65, p. 725, 774.) P. o. op. ex. to earns .. . (84·26) (76·23) (83·94) St. Paul & Northern Pacific Ky.-Formally merged in theTot. net, incl. other inc. $782, l92 $1,264,273 $772,398 Taxes .................. . 128,552 117,729 113,826 Northern Pacific RR. in November, 1896-see that company. Interest on bonds ..... . Salt Lake & Los A.ngeles RK.-Road from Salt Lake to Sal800,000 800,000 800,000 Rentals, etc .......... .. 31,490 40,354 56,340 tair Reach, Utah, 15 miles, standard gau1?e, In Jan., 1898, was negotiating for purcllase of the Oregon Short Line branch from Salt Lake - - - ---Balance ............. df.$63,189 H.$177,850 sr.$306,190 dl.$197,768 City to Terminus, &c, 37 miles, narrow gauge. Ir thi~ branch is sePresident, S, W. Fordyce; Vice-Pres., Edwin Gould.- (V. 65, p. 725.) cured, a new St. L. & L . A. mortga[e will be made for $550,000. covering the whole line, and the old $;:s00,000 first, retired-see V. 65, p. St. Louis Vandalia & Terre Haute KK.-(See Map Pittsb. 824. Stock $150,000. In 1896 $300,000 first 6s were outstanding. QinMn. Ohic. & St. L.J-East St. Louis to Indiana State line, 158 Iniles. -v. 65, p. 824. LEASE.-Leased for 999 years from 1870 to Terre Haute & India.nap. San A.ntonlo & • ransas Pass Ky .-Owns rrom Kerrville to RR. at rental of 30 per cent of gross earnings-profits and losses as Houston, 308 miles; Kenedy to Corpus Christi, Tex., 90 miles: Yoaksigned to Lessees in proportion of :five-sevenths to Pittsburg·Oin. Chio. um to Waco, 171 miles; Skidmore to Alice, 43 miles, Shiner to Lock& St. L. and two-sevenths to Terre Haute & Indianapolis. V. 54, p. 846. hart, 5 4 m.; branch, 21 m.; total, 687 m., all 50-lb. steel. CAPITAL ST0CK.-Stock, $2,379,358 common and $1,544,700 of 7 HISTORY.-Reorganized without foreclosure sale in 1893, manageper cent cumulative pref.; par $100. The Terre Haute & Indian- ment passing to So. Pac., which owns $2,000,000 stock. apolis owns $326,000 preferred and $460,600 common stock, the PennBoNos.-Mortgage is for $21,600,000 (trustee, Central Trust Co.) sylvania RR. $837,000 preferred and $225,0,)0 2d mort. unguaranteed 7s, and th~ Pennsylvania Company, Dec .. 1896, $1,350,000 common and the So. Pacific Co. by endorsement on each bond guarantees unconditionally ·•the punctual payment of the principal and interest.'~ and $381,700 preferred. In 1891 and 1892 back dividends on preferred were ~aid for 1879 to 1884; for 1885, 7 .P· o. in 1894: f?r 18 86, (No. 9) Bonds for $2,700,000 reserved for extensions, limit~d to 100 Iniles at $27,000 per mile, equipped. See full abstract of mort. in V. 56, 7 p. o. m 1895; for 1887 (No. 10), 7 p. o. m Feb., 1896; m 1897, none. Bosos.-Of the second mortgage bonds $1,600,000 are endorsed by p. 540. Pacific Improvement Co. June 30, 1897, $1,176,709; car trusts, $240,979. Listed on N. Y. Stock Ex. to 1898, $1~,886,000. lessees, and also by Pittsburg Cincinnati & St. Louis (now Pitts. Cin. Chicago & St. Louis RR.), with agreement to p,,rchase th~ bol!d and its LATEST EA.RNINGS.-5 mos. l 1897.Gross, $958,28• net, $342,261 July 1 to Nov. 30. 51896.Gross, 1,083,92!,; net, 465,543 coupons as they mature. The firsts ($1,899,000) were likeWise so en- Net earnings ...... . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $887,658 (81·29) $891,242 121,485 800,000 32,944 ---- -$772,114 - - -$1,239,954 --- J"A.:ffARY, 1898.] 127 RAILROAD STOCKS AND BONDS. Subscribers ~Ill confer a great favor by giving hnmedlate notice of' any error discovered In these Tables. Bonds-Pr1nc1 INTEREST OR DIVIDENDS RAILROADS. Miles Date Size, or When Due. A.mount Rate per When Where Payable, and by pal, of Par , explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. Outstanding Cent. Payable Whom. on first page of tables. Dividend. -- - - --- ...... (1) San Antonto d: Gulf RR.-Bonds $250,000 ......... ... 22 1888 500 &c. San Diego dnyamaca d: East'-n Ry.-1st mort., gold $550,000 Bandusky d: Oolumbus Short Line.-SEE COLUMBUS SHAW NEE& HOCKIN G. 1,080,350 50 Band!usky Mansfield d: Newark-Re-or~anizedstock 116 lstiM .. int. gu.underlease byB.& O.an Cent.O ... c* 116 Do guar. p. & i., end. S. F. & W ................ Ban Francisco d: North Pacijic.-Stock .............. 1st mort., gold ($4,500,000), s. f. red. at 110. *c&r Ban Fran. d: SanJoaq. Val.-Stk. sub., $2,500,000 .. 1st M.,$6,000,000,gold, call for s.f. aft.1915. lU e.o 8antaFePres.d: Phrenix-lstM.,$5,000,000 ..... g.c* 2d mortgage (Cent. Tr. beneficial certfs.) .....·.. -·-· Sanford d: St. P'burg-lst M.,$1,000,000,g.not guar Saranac d: Lake Placid-Stock ...... ................ 1st M., $120,000, gold, int. gu. by lease (end.) Cc* i869 1894 1894 i65 iss9 ...... ...... 198 198 ..... 10 1896 1892 1895 ---- 1893 Saratoga & Schenec{ady- Stock (rental guarant'd). Sault Ste. MarieB1'idge-lst M., g., s.f.. dr'n at 110 c .iii Ba11annah Americus ct Montgomery-See GEORGU &ALA BilIA. Ba11annah Florida ct Western-Stock ....•••..•....... iss1 So. Ga. & Flor., 1st Ms., end by State of Georgia.o* So. Ga. & Florida 2d mortgage................... o Sav. Fla. & West., 1st (consol.) mort., gold... o*&r 1st consoJ. mort., ~old, interest red. to 5 p. ct.c 8av. Fla. & W. oonso. M. ($20,000,000) gold ... c* . fj8 58 545 545 819 Guaranteed Loans. Brunswick & W. 1st M. Bruns. to Albany, g, gu.o* 171 Income bonds, non-cumulative .................. Ala. Midland, 1st mort., guar. p. & i., end. g .. xc 175 Silver Springs O. & G., 1st M., int. guar., g .... c* 74 Florida Soulib. 1st M.,$5,000,000,g., gu. S. F.& W. Sanrord & Sti. Petersb., 1st mort., ~-, guar., encl .. ,r NOTE.-There a.re $300,000 additional bonds at.lfp . ---- ------ 1,000_ ·----- ··ioo 1,000 100 1,000 1,000 ........ ·----6 g. ---· 100 1,000 1,000 1,000 ---- 1,000&c 1893 1.000 rn<'ie:rauit. --··· · Feb. 1. Moss N. Bk., Sand'ky, O. 7 .T. & J. Jau,.'97, pd. Dec. 15,'97 5 g . J. & J. Philadelphia, Pa. 4 g . J. & J. ..... - . ........ . .&.. 5 g. J. J. N.Y.,46Wall,&Fr'nk'frt 2,300,000 300,000 300,000 6,000,000 4,061,000 See text. . ...... 6,000,000 5 g. 4,940,000 5 g. 2,964,000 250,000 120,000 5 (6) g. 450,000 7 per an. 900,000 5 g. ..<ii.. 100 1,000 100 1,000 ··--- J. & J. ·--- ----- A. & 0. M.& 8. . .&.. J. J. M.&N. J. & J. J. & J. N. Y. and San. Fran. N. Y. Mer'tile Tr. Co. 1888 500&0. 3,000,000 4 g. °'(.o,,o,oor> 1,000 1888 5 1,000 1888 2,800,000 5 g. 1,000 1888 1,120,000 4 1,000 1895 4,241,000 312-4 g. 1894 . . .. . . ,T300,000 4 g. c. ung uarante ed. Feb. Jan. Jan. Jan. 1, 1896 1, 1909 1, 1924 1, 1924 Jan~. i',"i919 oct:·1;·i940 Sept. 1, 1942 ... ii>". Aibaii:v:·:&·. Y. Nov.'97,pd.21Cort. N.Y. May 1, 1913 Troy, United Nat'l Bk. Jan., '98, 312% N. Y., Nat'l City Bank. July 1, 1937 9,412,900 See text. N. Y., Off., 12 W. 23d St. M:·&·N. 464,000 do do 7 200,000 M.&N. do do 7 4,0f\6,UIIO 6 g. A. & 0. N.Y., do & Savan. 1,780,000 5 g. A.. & 0. do do 7,086,000 5 g. M.&N. do do 1869 1869 1884 Juiy·1,..i918 J. & J. do do None paid. M:·&··N. N. Y .. Metropol. Tr. Co. J. & J. N. Y., 12 W. 23d Bt. New York City . J. & .r . ............ J. & J. Jan.1, '96, 2% Jan. 15, 1899 Sept, 6, 1899 Apr. 1, 1934 Apr. 1, 1934 May 1, 1943 Jan. 1, 1938 Irredeemable. Nov. 1, 1928 July l, 1918 Jan. 1, 1945 Jan; 1, 1924 1 ANNUAL REPORT.-Fiscal year changed in 1897 to end June 30. For rear ending June 30, 1897 (V. 65, p. 922,) ~oss, $2,208,418; net, $669,803; interest on bonds, etc., $779,248; taxes, 66,558; balance, deficit for year, $176,003. In 1895·96, gross, $1,902,785; net, $539,.363. (V. 63, p. 151; V. 65, p. 922.) San Antonio & Gulf' KK.-San Antonio to Sutherland Springs, 28 miles. Successor in April, 1897, to San Antonio & Gulf Shore Ry. Capital stock, $1,000,000. The Texas RR. Commission has approved the issue of $250,000 bonds.-V. 63, p. 76, 1116; V. 64, p. 708. Sandusky & Col. Short Llne.-See Courn:. SANDUSKY & HOCK• Sandusky lliansfleld & Ne~ark KR.-0wns Sandusky, 0., to Newark, 0., 116 miles. Leased to Central Ohio, guaranteed by Balti· more & Ohio, Feb. 23, 1880, till Dec. 1, 1926. Rental is $201,850. First mortgage interest due Jan. 1, 1897, was paid with Interest Dec. 15, 1897, at Union Trust Co., N. Y. July, '97, interest was not paid. The net earnings of the road will be applied to the payment of the rental. See V. 63, p. 30. As to bonds see p. 8, SUPPLEMENT of April, 1896. On June 30, 1897 theB. & 0. owned $237,800 of S. M. & N. stock. RECEIVERS.-Yov. 30, 1897, President John Gardiner and Vice-President J. 0. Moss were appointed receivers. The road had been oper· ated by the B. & 0.-see V. 65, p. 1072. Protective 0'>mmittee 1st 7s.-John Gardiner, J. 0. Moss. Charles c. Deming, Arthur P. Atur~~s and W. C. Osborn; depositary, Union Trust Co., 80 Broadway, New xork. (V. 65, p. 1116.) DIVIDENDs.-From 1881 to 1884, 2 p. o.; 1885 to 1888, 3 p. c.; 1889 to 1892, 312 p. c.; in 1893, 1894, 1895 and 1896 each, 3 p. c.; none since. EARNINGS.-Year ending June 30, 1897, in V. 65, p. 974, shows: Gross, $881,157; net, $80,880; rental under lease (only paid ill part), $201,850; taxes. etc., paid by lessee, $31,0-15; loss to lessee, $152,01!',. In 1896, gross, $845,680; net, $149, ">71; rental (paid only in part by lessee) $201,850; taxes, etc., paid by lessee, $24,474; balance, loss to lessee, $76,753. No charge ma.de in 1896-7 against the road for use of B. & O. cars and engines. The Sandusky Co. owns no en~ines and only 27 cars. (V. 63, p. 30; 1008, 1011; V.65, p. 914, 1072, 1116.) Sanford & ""t. Petersburcr Ry.-From Sanford, Fla., to St. Petersburg, 153 miles: made stan'aard•gauge in 1895. Formerly Orange Belt Railway, which was sold at foreclosure in March, 1893. Stock is $600,000; par, $100. First mortgage is for $1,000,000 of 5 p. o. bonds of which $600,000 have been issued, and of these $300,000 are ~maranteed principal and 4 p. c. interest by end. of the Savannah Florida & Western (see copy of guaranty in V. 64, p. 843.) Mortgage trustee, Penna. Co. for Ins. on Lives & Granting Annuities, Philadelphia. Presi• dent, E.T. Stotesbury, Phila.-V. 64, p. 843, 888. San Francisco & North Pacific Ky.-Point Tiburon, Cal., to Ukiah, Ual., 106 miles, and branches, 59 miles. Consolidation of March 19, 1889. Has steamer connection (6 miles) with San Francisco. BoNDs.-Issued at $25,000 per mile; trustee, Mercantile Trust Co.,N. Y. sinking fund, $25,000 yearly, bonds drawn a.ti 110 and interest. [Mortgage abstraotV. 49,p. 241.] LATEST EARNINGS.-From July 1 to Dec. 31 (6 months). 6 Months. Gross. Net. Int. chns. Bal., sur. 1897 •....•.••. $471,031 $204,492 $114,024 $90,468 1896.......... 402,466 156,044 114,624 41,420 ANNUAL REPORT.-Fisoal year ends June 30. Report for 1896-97was 1n V. 65, p. 193, 275. Gross, $737,094; 1>et, $240,125; interest and sinking fund, $229,915; balance, surplus, $10,210. In 1895·96, gross, $790,958; net, $232,580.-(V. 65, p. 193, 27 5.) . San Francisco & San Joaquin Valley Ky.-Under con· struotion from San Francisco, Cal., via the San Joaquin Valley to Bakersfield, Kern Co., Cal., about 325 miles. Completed and in opera· tion from Fresno, Cal., to StiockliOn, 125 miles, in November, 1896, and in Oct., 1897, from Fresno to Handford, 30 miles, making total 155 miles; also built 20 miles from Fresno on branch (to l•e 43 miles long) to Visalia. Stock $6,000,000, par $100, of which $2,500,000 has been subscribed, and paid up in October. 1896: The sinking fund is 1 p. c. of net profits per annum from Jan. 1, 1916, to 1921; 2 p. c. to 1926; 3 p. o. to 1931; 4 p. o. to 1936; 5 p. c. to maturity; bonds may be drawn at 110. OFFICERS.-President, Claus Spreckels; 1st Vice•President, Robert Watt: 2d Vice·President, A. H. Payson; Secretary, Alexander Mackie, San Francisco, Cal.; Counsel, E. F. Preston.-(V. 65, p. 621.) Santa Fe Prescott & Phoenix Ky.-( See Map.)-Owns Ash Fork on Santa Fe Pacific (Atoh. system), via Prescott to Phoenix, Arizona, 198 miles opened in March, 1895. Stock, $7,904,000. First mortgage ia for $5,000,000; Mercantile Trust Co. New Yoi:k trustee; 2d mortgage trustee, Central Trust Co., N. Y. GENERAL FINANCES.-On May :n, 1897, loans and bills payable, $350,879; bills receivable secured by collateral. i\f>00.706. The road is tax: exempt by legislative enactment for 20 year~ from 1894. The interest charl[es on 1st mortgage bonds amount to $247,000 per annum, after payment of which the surplus earnings may be used for improvements, etc., as provided in a contract with the 2d mortgage bondR under which substantially all of the 2ds have been deposited with the . Central Trust Co., N. Y., against its certitl· oates of beneficial intere.;t. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LATEST EARNINGS.-5 IDOS. ( 1R97 .... Gro s, $301,1>65; net, $168,161 July 1 to Nov. 30. 5 1896 .••. Gross, 254,0:31; net, 129,437 EARNINGS.-Fiscal year ends June 30. 1896. Yea1'S end. June 3018~7. Gross earnings ................................... $652,649 $574,752 272,984 Operating expenses .............................. 313,686 47·50 Per cent of op. exp. to gross .......... ·-········· 48·C6 Net earnings .................................. $338,963 $301,768 F. M. Murphy, President, Monadnock Block, Chicago, Ill.-(V. 58, p. 595; V. 60, p. 481.) -.a:ranac & Lake Placid KR.-0wns from Saranac Lake to Lake Placid, N. Y., 10 miles; operates undee contract N. Y. Central's Saranac branch, 5·6 miles; total operated, 15·6 miles. DecPmber 19, 1896, leased to Chateaugay RR. and Chateaugay Ore & Iron Cos. jointly for 17 years, and interest on bonds reduced from 6 to f> p. o.; rental 35 per cent of its gross receipts and one·half net profit from transfer business at Lake Placid-at least $7,200-to pay 5 per cent interest on l>onds, which interest is guaranteed jointly at 5 p. c. to and including Nov. , , 1913, by endor;;ement. Stock, $250,000 (par $100.) Divide11ds.-In 1893, 3 p. c.; in 1~94, 2 p. c.; in 1893, 2 p. o.; in 1896, 2 p. c. For year ending June 30, 1896, gross, $24,126; net, $9,420; int. andtax:es, $9,027; dividends (2p. c.), $5,0UO.-V. 64, p.182.) Sault Ste. J.Uarle Brfdcre.-0wn Sault Ste. Marie Bridge, including 6,!21 leet of main track. The Canadian Pacific, Duluth South Shore & Atlantic and Minneapolis St. Paul & Sault Ste. Marie RR. cos. agree to pay for use of bridge an amount equal to operating expenses, and interest and sinking fund of debt. Mortgage, $1,000,000; sinking und. $n.500 yearly. Stock. $1.000,000 President, Calvin S. Brice. Savannah Florida & Western Ky.-Operatesfrom Savannah Ga., to Tampa, Fla., with branches to Bainbridge and Albany, Ga., and Jacksonville, Chattahoochee and Gainsville, Fla.; total owned, 856 miles; leases 33 miles. Total mileage, 889. PLANT SYSTEM. -This road belongs liO "Plant system," whioh is described under that title. April 1, 1893, the South Florida was consoli• dated witb the Savannah Florida & Western. In 1894·95 purchased con· trol of Florida Southern, 247 m., and Sanford & St. Petersburg, 152 m. STOCK.-During 1893·94 increased from $6,793,900 to $9,412,900. BoNDs.-The Savannah Florida & Western first oonsols of 1884 are a first lien on 201 miles and a second on 344 additional. The consolidated mortgage is limited to $20,000 per mile. Sufficient console are reserved to retire all prior liens and for future betterments and extensions. Consol. 6s of 1884 with interest reduced to 5 p. c. were sold June, 1897, to retire $1,780,000 Atlantic & Gulf 7s due July 1, and $664,000 are reserved for So. Ga. & Florida 7s.- . 64, p. 954, J 228. GUARANTIES.-Florida Southern first M. is for $5,000,000; interest at 312 per cent until Jan. 1, 1900. and 4 per cent thereafter. Bonds are en• dor ed with the Savannah Florida & Western guarantee of principal and interest. V. 62, p. 683. See Florida So. statement. (V. 61,p. 661). Sanford & St. Petersburg bonds for $600,000 bave been issuea., but only $300,0••0 are guaranteed.-See copy of 1,ruaranty, V. 64, p. 843. Brunswick & Western first 4s and Alabama Midland first 5s are guar• anteed, principal and interesr,, and Silver Springs Ocala & Gulf first 4s (interest reduced from 6 p. c.) as to interest-see those companies. DIVIDENDS.- { '83. '84. '85. '86. '87. '89. '90. '91. '93. '94. '95. 96. Per cent. 5 7 4 0 31!! 2 4 0 2 312 6 4 2 LATEST EARNINGS.-5 mos., 51897 .. Gross, $1,377,760; net, $357,209 July l to Nov. 30. c1896 .. Gross, 1,353,029; net, 333,332 ANNUAL REl'ORT.-Earnings have been as follows: 1895. Year ending June 301897. 1896. $3,393,373 Gross earmngs ............. $3,260,'.H3 $3,264,320 168,186 Otherincome. ... . .. . . . . . . .. 129,517 170,198 1,070,667 Net receipts................ 964,131 907,353 884,174 Cnteresli, taxes, etc......... 900,706 896,462 186,493 Surplus for w ..-~dends .. . .. 6B.1.425 10,891 -v. 64, p. 421,843,888,954, 12~8. Savannah & Western Ky.-Merged in CENTRAL OF GA. RY. Schuylkill & L~hlgh KK.-0wns from High's Farm, near Reading, Pa., to Slatington, Pa., 44 miles. In 1883 leased to Philadelphia & Reading RR. for 999 years and in 1896 lease assumed by Phila. & Reading Ry. Rental, $27,000 per annum. Reading owns the stock ($50,000) and $400,000 second mort. bonds. First 412s were guar. Schuylkill Valley Navigation & KR.-0wns Palo Alto to Reevesdale, Pa., 16 miles; second track 5 miles; total all track 27 miles; Leased for 999 years from July 25, 1861, to Phila. & Reading RR. Lease assumed in 1896 by Phila. & Reading Railway Co. H.ental $29,450, whtch pays 5 p. c. on stock and State taxes. Seaboard & Roanoke IUl.-Owns Portsmouth, Va., to Weldon and oranoh, N. C., 81 miles; leases Roanoke & Tar River RR. 33 miles. ilso has a controlling interest in the Raleigh & Gaston Railroad, 108 rniles, and thus in the Raleigh & Augusta Air Line, 107 miles, and Caro-Lina Central, 269 miles; also controls Pittsboro Railroad, 12 miles; Durham & Northern RR., 42 miles; Lounsbury RR., 10 miles; and the Georgia Carolina & Northern, 266 11Jiles ''·,. 11npleted in April, 1892), affording a through line to Atlanta; to· • of all, 928 miles. TWs is the " Seaboard Air Line" system . 128 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS SUPPLEMENT. [VOL, I XVL • MAP OF THE ' / SANT A FE, PRESCOTT AND PH(ENIX RAILWAY A~D CON~ECTIONS. ' z 0 I i T ewa 0 O ~e~~n~! 0 JANUARY, 1898,] RAILROAD STOCKS AND BONDS. 199 Subscl"ibers -will confer a great Cavor by giving; immediate notice oC any error discovered in these tables. RAILROAJJ~. INTEREST OR DIVIDENDS. Bonds-Prine!• - - - - - - - - - - - - - - - - - - - - - 1 Miles Date Size,or Amount . pal,WhenDue, of of Par Outstanding Rate per When Where Payable, and by Stocks-La.et on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. For explanation of column headings, &c., see notes Schenectady tf Duanesb.-lst mort., interest ~ar.. Schuylkill ct Lehig~1st m., guar. by P. & R. R . Schuylkill Valley Navigation & RR.-Stock ........ Seaboard Air Line Belt Rail?-oad-Stock .. ......... 1st mortgage .......... . .. ............... MeBac* Beaboard&Ji,oanoke-St'k ($244,200 is pf. gu. 7p.c.) 1st mortgage for $2,500,000 .................. o*&r Debentures, registered .......................... . r Sea. Air Line E~'t Tr. ser. A, B & C (12 each) .... c" Beattle Lake S. tf ast.-Reorg. certs. for 1st M .. c* Seattle & Intern'! 1st mort., $4,450,000, gold . .. . Spokane & Seattle 1st mort., $1,112,000, gold .... Shamok,in Sunbury~ Lewisbm·g-lst mort .... c*&r 14 44 ---· 1874 $JOO&c. 1872 1,000 • 50 ---- ---- iso3 i:cioo JOO ·s·i 81 ---· ------· 178 47 31 31 0 36 sf!~i~n%at ~ i>·i 36 1st mortgar, gold, on road and lands . .......... o 16 Bharon-Stoc ($500,000) ....•...................... 16 1st mortgage, gold................................ c Short Route R'!ti. Transfer Oo.-See ILLINOIS CENTR AL. 74 Silver Sp. Oca a <l Gulf-lst,l.&J.($15,000p.m.)g.c* 17 Silverton-1st mort. for $500, 00 gold ......... . c&r Sioux Oity <l: Northern-lat mortgage, gold . . lUac,.. 96 Sioux Oity O'N. tf West.-lst M. g .......•.••. llia.c* 130 Somerset Railw ,y -1st mortgage.. ..... ............ o South .Atlantic <l: Ohio-1st mortf,age .... . ........... ·-.-;o So. Brooklyn RR. tf Ter·minal- ref. mort. notes . . 1 1st mortgage ....................................... South Oarolina <l Ga.-lst M. $5,250,000, gold.Cc* 245 84 Augusta South'n 1st con. M., gu. p. & i. end., ~.c 37 South Haven & Easte1·n-lst mortgage . ........ South Jersey-Receiver's certificates a nd debts . .. . ..... 1st M. bonds a nd loan sec. and un ecured .. c*&r }~iisv-iit~stoci: "iU:ar: N<>r: t --·- ---· --·· 1,000 1886 1886 100 &o. 1890·6 1,000 18E:6 1,000 1896 ·-·-·· 1896 1882 1890 1,000 50 is1·1 500 &e. 50 1,000 1889 i:ooo ---- 1888 1888 1890 1891 1S-S87 1887 ...... 1898 1894 1894 1895 1895 1893 1,000 1,000 1,000 1,000 .......... 1,000 ....... i:<>oo 1,000 ...... ·-·--· 500 $500,000 600,000 576,050 50,'>00 600,000 1,388,400 2,500,000 690,000 316,333 5,558,000 In trust. In trust. 1,000,000 1,000,000 869,450 2,000,000 464,600 164,000 1,112,000 425,000 1,920,000 2,340,000 225,000 1,850,000 100,000 1,200,000 5,250,000 400,000 216,000 350,000 1,035,000 6 412 5 ...5.. ···if" 6 5 6 g. 4 4 5 6 6 7 6 412 g. g. g. g. g. 4 (6) 6 g 5 g. 5 g. 5 6· 4 5 5 g. 5 g. 3-4-5 ...5.g. - - ----------1------M. & 8. N. Y., 21 Cortlandt St. Sept. 1, 1924 M.& N. Phila., Phil. & Read.RR. Nov. 1, 1902 J. & J. Philadelphia. J a.13,'98,212% ··-------- ·---· A. & 0. Baltimore and Atlanta. Balt., Farm.& Plant.Bk. J.- .&.. J. N. Y.,Baltimore <kPhila. F. & A. Portsmouth, Va. ..&..A. Balt.,Merc. Tr.& Dep.Co F. see.text. See text. M:·&·N. Phila., Phil. &Read.RR. do do J. & J. F. & A. Phila., Broad St. Stat'n do do J. & J. Sharon, Pa. M.& 8. J. & D. N. Y., Farm. L. & Tr. Co. ---·· J. A. J. A. J. J. J. 0. J. 0. & J. & J. & & & & -·--· N. Y., 12 West 23d St. Denver, Co 's office. July, '94 paid Jan., '98. Oct.,'92, coup. last paid. Boston & Oakland, Me. In default. See text. Apr:·1,""i923 May, 1893, 2% July 1, 1926 Aft. July,1916 Part yearll:' Aug. 1, 19 1 1926 1926 May 1, 1912 July 1, 1925 Feb., '98, 3% July 1. 1901 Sept., '97i 3% June 1, 919 July Oct. Jan. Oct. July July 1, 1, 1, 1, 1, 1, 1918 1908 1920 1921 1917 1917 M.&N. M.&N. N. Y., Broad. J. & D. do do . ........... A. & 0. May ·1,..i928 May 1, 1919 Dec. 1, 1924 Apr . 1, 1925 A_-·&··o. Ooi: · Offlce; iis --------·· -····-·--· 1; .i923 I STOCK.-Total authorized, $1,500,000; outstanding, $1,144,200 com- Hills appointed receiver Nov. 1, 1893. In Jan., 1895, foreclosure sale mon, $200,0001st pref. 7 p. o. guaranteed and $44,200 is 2d pref. guar. I ordered. For year 1896, gross, $L45,643; net, $26.499; taxes, $16,638 DIVIDENDS.-On common from Nov., 1890, to May, 1892, 7 p . o. per Somerset Ky.-Own s road from Oakland to Bingham, Me., and annum; in Nov., 1892, 3; in 1893, Ma,y, 2 p. c.; none since. branch, 42 miles. Road opened in 1890. Capital stock ii! $736,Bo:ms.-The debentures are to be included in any 2d mortgage issued. 649 (par, $100). Loans and bills payable June 30, 1897, $57,187 . After Aug. 1, 1916, they are payable at will as a whole, or in 10 per cent EARNING~.-Year ending June 30, 1897, QTOSS, $78,687; net, $13,846; instalments. With Raleigh & Gaston guarantees bonds of Geor~a Caro• interest charges, $14,635; baiance, deficit for year, $789. In 1895-96, lina & Northern (which see) and issued car trusts for $'J50,000. The gross,$34,281; net,$19,116.-V.63,p. 556; V. 65,p. 568. equipment joint bonds of 1896 are joint obligations of Seaboard & South Atlantic & Ohio KK.-Owns from Bristol, Tenn., to Big• Roanoke, Raleigh & Gaston, and Raleigh & Augusta Air Line RR. stone Gap, Va., 70 miles. In 1892 John C. Haskell and D. H. Conklin ANNUAL REPORT.-Fiscal year ends June 30. Statement for 1896-97 were appointed receivers. Foreclosure sale has been ordered. was given in V. 65, p. 821, showing on road proper, 114. miles. Stock is$1,100,000; par, $100. ·n Jul ✓ 1, 1896, car trusts $107,260; Years. *Gross. N~t. Oharges. Pref.div. Balance. coupons due and unpaid, etc., $970,970. Year June 30, 1896, gross, 1896-7 ........... $\HH,021 $378,034 $305,741 $17,094 $55,199 $89,701; net, $3,358; charges, $128,895; balance, deficit, $125,537. 1895-6 ...••...•. 927,989 359,955 326,472 17,094 sur. 16,389 In 1894·5, gross, $88,362; def. under oper. $3,190. V. 62, p. 1042. *NOTE.-Gro includes other income of $92,34.2 in 1896-97; $90,202 South Brooklyn KR. & Te1·mlnal.-Owns road on its own in 1895-6; $186,272 in 1891-5.-V. 65, p. 368, 685, 821, 1116. pi:operty from near foot of 38th Street, Brooklyn, to 9th Avenue, 1 Seattle Lake Shore & Eastern Ky .-Seattle tf International RR. mlle, double tracked. Chartered 1886. Use of the roadbed is leased owns from Seattle northerly to St1mas, Wash., 125 miles, connecting to Brooklyn Bath & West End RR. (Nassau Electric System in there with the Canadian Pacific RR. and fro n Woodinville easterly to STREET RAILWAY SUPPLEMENT) on percentage baRiS, lessee keepin~ Sallal Prairie 39; branches 14 miles; total, 17i3 miles. 'l'he Spf)kane <l: track and roaifbed in repair. Capital stock is $500,000; pa.r, $100. Seatlte Ry. owns from Spokane to Davenport, 47 m. See V. 66, p.185. Notes payable, unsecured by mortgage, were $56,768 on June 30, 1896, ORGANIZATION.-The Seattle & International and Spokane & Seattle and in May, 1897, a jud~ment for $60,767 was entered against the were formed in 1896 as successors of the Seattle Lake Shore & Eastern company on the notes and a:lvances.-(V. 64, p. 1043.) sold in foreoloiiure May 16, 1896. The securities of the new companies South Carolina & Georgia KK,-ROAD.-Owns road from (in the aggregate $3,000,000 stock and $5,562,000 bonds) were placed Charleston, S. 0., to Augusta, Ga., with branches, as follows: for ftve years in trust with H. 0. Armour, H. W. Sage and A. M. .Lines Ownedr~iles. , Lines Leased in perpet'y- Kiles. White, with authority to sell, lease or consolidate the roads subject to contirmation by 60 per cent of the certificates representing the old Charleston,S.C.,to Aug-usta,Ga.138 Augusta Southern RR. Branch to Columbia, S.C....... 67 Augusta to Tennille, Ga...... 84 Seattle Lake Shore & Eastern bonds. In January, 1898, the Northern Pacific Railroad Company secured Other branches owned ......... 40 Total owned and leased .... 329 over 60 per cent of the above-mentlofied certificates, and an offer of Of the lines owned, 213 miles is 56-lb. steel and 32 miles 70 lb. 80 per cent of pal' value was made for the balance of the issue. See CHRO ' ICLE of Jan. 31, 1898. HcSTORY, ETc.-A reors-anization in May, 1894, of the old South CarEARNINGS.-For year ending June 30, 1895, gross, $277,726; net, olina RR. per plan given m V. 58, p. 867. The "Atlantic Coai.t Line" $45,974; other income, $20,153; miscellaneous expenses. $23,034; in· reaches Augusta from Denmark, 57 miles, over this line. On March 1, terest charges (not paid), $340,500; bal., def., $297,407. (V. 66, p. 185.) 1897, leased Augusta Southern, guaranteeing its bonds. V. 65,p. 1019, STOCK.-Capital stock $5,000,000; car trusts June 30, 1897, $78,000 Shamokin Sunbury & Le-wisburg KK.-Line Shamokin to West Milton, Pa., with iron bridge over Susquehanna, 31 miles; second LATEST EARNINGS-4 mos., 51897 . ... Gross, $447,373; net, $187,8H5 track, 15 miles; total of all track, 58 miles. Leased to Philadelphia & July 1 to Oct. 31. <1896 . ... Gro~s, 385,520; net, 153,828 Reading RR. July 2, 1883, for 999 years at 6 per cent on the stock, ANNUAL REPORT.-Report for 1896·7 given in V. 65, p. 1019. and lease assumed in 1896 by Philadelphia & Reading Railway. Year end. J-une 30- Gross. Net. Int. •ct /.axes. Bal., surp. Used for coal tratfio northward. Stock, $2,000,000 (par, $50) of which 1896-97 ...........•• . $1,216,484 $43 8 ,994 $326,787 $112,207 $1,995,000 is owned by the Reading Company and deposited under its 189b-96 ............... 1,077,146 359,691 321,295 38,396 general mortgage of 1897. (V. 51, p. 21.) Officers-President Charles Parsons, 15 Broad Street, Sew York. Shamokin Valley & Pottsville Ky.-(SeeMap Pa. RR.)-Sun• -(V. 63, p. 965; V. 64, p. 468, 1002; V. 65, p. 101 U.) bury, Pa.., to Mt. Carmel, Pa., and branch, 36 miles. Leased Feb. 27, South Haven & Easte1·n KK.-Lawton to South Haven, Mich., 1863, for 999 years to the Northern Central Railway Co., with a guarantee of taxes, interest on the bonds and 6 per cent on the stock. of 37 miles. Stock, $218,500. Year endino- June 30, 1896, gro-is, $21,936;, deficit from operating, $1,9 !7; interes't, $376; balance, deficit, $2,323 which $619,650 is owned by the Northern Central. Pennsyl van.la RR. owns $530,000 7 per cents and $301,000 additional were held by the South Jersey KK.-Operates from Philadelphia to Cape May, N, Northern Central Ry. Co. to cover the depreciation of coal lands. J., 79 miles (of whiell 24·5 mileR, Phil. to Winslow June., is trackage on Sharon Ky .-Owns from Sharon, Pa., to Pymatuning, Pa., with .Atlantic City RR.): branch to Sea Isle, N. J., 12 m. R eceiver Francis branches, 16 miles in all. Leased till April 30, 1982, to New York I. Gowen. Stock (pa $50) $940,000; floating debt, $L50,115. REORPennsylvania & Ohio (now Nypano RR) at rental which pays interest on GANIZATIO"N PLAN-Committee consisting or R. P. Linderman and Thomas Robb has issued a plan; bondholders and creditors of old combonds and 6 per cent on stock. Rental in 1896 was $37,093. pany to pay assei-flment of 12 per cent-see V. 66, p. 135, 185. EARN· Silver Springs Ocala & Gulf' KK.-Owns Ocala to Inverness, rn~ -For year ending June 30, 1896, gross, $80,580; deficit from operwith branch from Gulf Junction (near Dunnellon) to Homosassa, 74 ating, $41,871.-V. 66, p. 135, 1 85 . miles. In January, 1893, a controllin"' interest in stock was acquired by South & North Alabama KK.-(SeeMapof LouisviUe<tNash.)the Plant Investment Company [see 'Bavannah Florida & Western], and interest on the $1,120,000 bonds outstanding reduced from 6 to 4 per Owns from Decatur, Ala., to Montgomery, Ala., and branch, 189 miles Controlled by the Louisville & Nashville RR. Co., which owns most ot cent, and guaranteed by endorsement. Stock, $1,500,000, par $100. The first mortgage is limited to $3,000,000, but no more than $1,120,000 the stock [$3,481,400, of which $2,000.000 preferredl and guarantees the tirst and consol. mortg-a,:::-e bonds. Note to L . & N. (dated Nov. 30, can be issued on 74 miles; $8,000 bonds redeemed, leaving $112,000 outstanding in Oct., 1897. Land grant 18,840 acres per mile, of which 1 89i,) for U,588,943 beara 6 per cent interest. In year 1895-96, gross $2,117,309; net, $657,02f>; other income, $30,586; interest, $654,202; mortgage covers 4,000 acres per mile. $51,317; sin kin~ fund, $141,777; bal., deficit for year, $159,EARNINGS.-5 months, 5 1897.. . . .... Gross, $74,898 ; net, $33,172 taxes, July 1 to Nov. 30. (1896 ........ Gross, 63.678; net. 27,962 635. In 1894-5, gross, ~1,928,768; net, $570,725. (V. 56, p. 1015.) Southern Indiana Ky.-Owns Elnora, Ind., to Westport, 102 m . Year ending June 30, 1897, gross, $178,440; net, $91,276. In 1895-6, gross, $183,900; net, $90,500; other mcome, $1,069; charges,$52,981 · A reorganization of the Evansville & Richmond RR. sold in. forebalance, rnrplus, $38,588. In 1894-5, gross, $171,256; net, $45,559' closure \farch, 1897. Capital stock is $1,500,000 ($100 shares). The new name was at first E. & R. Railway, but Southern Indiana Ry. was Silverton KK.-Owns Silverton Col., to Ironton, 22 miles. Stock: adopted Dec. 1, 1897. There is a 1st mtge. E. & R. for $14,000 of 6s $350,UOO; par, $100. Year 1895-96, gross, $75,890; net, $41,331; int. mtturing June 1, 1898, and a 2d mtge. for $180,000 ot 5s; bonds are and taxes, $31,394; bal. surplus, $9,937. In.1894-5, gross, $59,471. not subject to call. President is John R. Walsh; Sec'y and Treas., L . Sioux Oity & Northern KK.-Sioux CitynortherlytoGarretson, .A. Walton, 185 Dearborn St., Chicago, Ill. V. 65, p. 1173. So. Dakota, 96 mlles. Stock, $1,440,000. Judge Warwick Hou~h and Southern Pacific Company.-( See Maps.)-ROAD.-This com Mr. S. J. Beals were appointed receivers in Oct., 1893. Petition for pany owns no track in fee, but principally through ownership of stouk sale of road fl.led in July, 1894, by mortgage trustee, but to Oct. 1, 1897. and partly by lease it operates a great system of.roads extending from no d ate of sale set; unpaid coupons, etc., July 1, 1895, $253,123. San Francisco to New Orleans (thence by comyanv's steamers to N .iw Coupons due July 1, -1894, were in D ec.,'97, ordered paid.-V. 66, p. 39. York,etc.), to Portland, Oregon, and to Ogden, Utah, with branches. LATEST EAR JNGS.-11 mos. 51897 .... Gross, $253,622; net, $73,218 It largely controls the bu iness of central a:nd northern California. 'l 'he Jan. 1 to Nov. 30. <1896 .... Gross, 205,562; net, 43,445 line from Mojave to The Needles (So. Pamfic of Calif.), 242 miles, REPOR'l'.-For year endin~ June 30, 1896, gross, $265,19!; net, $87,- formerly leased to Atlantia & Pacific, was acquired by Atchison, T. & 272. In 1894·5, gross, $160,876; net, $10,447.-(V. 66, p. 39.) 8. Fe in March, 1897, in exchange for the New Mexico & Arizona RR. Sioux City O'N eill & Wes tern KQ..-Owns Covington. opposite and Sonora Ry., 350 miles. Its system comprises the following line S ioux City, to O'Neill, Nebraska, 129 miles. Stock $3,600,000. F. C. fully described under their own titles. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I - MAP OF THE SOUTHERN PACIFIC COMPANY ATLANTIC SYSTEM . I I I I I I I I N https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I I I C 0 I I I I ___ - \. olorado _J' l\Iidland Big Spring Stantou i~~· E l TI L F O F M.E J A.NUARY, 1898, l RAILROAD STOOKS AND BONDS. 131 D I I A D I, A I -,}ee: -4 - <-0 l'>emor Luk~~,;. I / Frisco Candelaria I I Pioche o I I I I PACIFIC SYSTEM. Proprietary .Lines _ _ _ __ Leased Lines ■ ■■■■■■ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9' ,-=c- • . <!) tJ J -v INVESTORS' SUPPLEMENT. 132 [VOL. lXVI Snbscrlbers •will con.Cer a great Cavor by glvin,r lm.m.edlate notice of any error discovered In these Table•• RAILROADS. ---------------------------------------For explanation of column headings, &c., see notes on first page of tables. lN'.£E.R.h.8'.£ OR DIVIDENDS. Bond8-Prmcl• Miles Date Size, or Amount . pa.l,WhenDte . of of Par Outstanding Rate per #hen Where Payable, and. by Stocks-La.st Road. Bonds Value. - ' Jent. Payable Whom. Dividend. -----------------------------------------11 --- - - - - - - -----------11---- .- - - - ------------ ---1-----------Bo. ~No.A.labama-lstM.,s.f.not dr'n; guar.byL.&N. 189 2dmort. gold, s. f. $2,000,000 (owned by L. & N.) 189 Consol. mortgage (for $10,000,000), gold, guar.c* 189 Note to L. & N. (for indebtedness) .. ....... . ...... ... . 8outhPac.Ooast-lstM.,g.,gu.(s.f.begins1912)c 104 Southern Pacific OOMPA.NY-8tock($150,000,000) 5,931 Steamship lstmort. bonds, Ber. A, $3,000,000... .... South.Pac.of A.rizona-lstM,ser. A,gold,guar.. c&r 392 do do Series B, gold, guar ..... c&r 392 Southern Pacific (Oal.J-Stock, $90,000,000a.uth.. ..•. All ( 1st M.,series A,gold } · land grant.. c*} equally Ber~es B, gold ....... sink'g fynd.c: 1 ,042 secured Series C & D, gold.. not subJect.c · Series E & F, gold. . to call.... c* S.Pac.Br.lstM.,g.,s.t.,$50,000inl897,notdr'n 93 So. Pac. gen. mort. ($38,000,000), g old ...... . c*&r 1,587 Stockton & Copper. lstM., g. (guar. byC.P.)...... 45 Consol. mort., gold, $89,293.500 s .f. not drn c*r& . . . . Southern Pacific of New Mexico-1st M., gold .. . c&r 167 Soiithern Railway-Com. stock, $125,000,600.. . . . . . Preferred, 5 per cent, non•cumu., $60,000,000... . . . . A.-PROPERTIES MERGED INTO SOUTHERN RAILWAY Atlantic Tennessee & Ohio 1st mort~age......... 44 Charlotte Col.&Aug.lstmort.,ext.m1895; text 191 2d mortgage............. . . . .. . . .. ... . . . . . . . . . . . . 191 Col. & Greenv. 1st m. (6 p. c. after Jan.,'98), g .. c* 164 Ga. Pacific 1st mort., 6 p. c. after Jan.'98 ...... c* 566 Equipment mortgage, gold, s. f., subj. to call.c"' .... Richmond & Danville cons. mortgage, gold ..... c . . •. Debenture mort., old 6s (no longer incomes)... . ... Equipm't Trust bonds, gold, s.f.,subj. to call c* 'Richmond YoTk River & Chesapeake 1st mort. .. · 38 2d M., extended rrom 1900.. . .. .. . . . . . . .. . .. . . . . 38 t 1873 1880 1886 1896 1887 1"8"9""1 £200 $1,000 1,000 ...... 1,000 100 ... ... 1,000 1,000 100 500 &c. 500 &c. 500 &c. 500 &c. 1,000 1,000 500 &c. 500 &c. 1,000 ...... . . . . .. 1879 1880 .... {1875 1875 1876 1882 1887 1888 1875 1893 1881 .... .... Co. 1883 ...... 1869 500&c. 1872 1,000 1881 1,000 1882 1,000 1889 1,000 1874 1,000 1882 1,000 1889 1,000 1873 1,000 l 1880 1.000 Southe1·n Pacific Company.-(Continued.) PACIFIC SYSTEM. ATLANTIC SYSTEM Proprietary linesMiles. Propiietary linesMiles. Southern Pacific or Oal. .. .... 1,735 Morgan's Louls. & Texas..... 283 (Of which 24 miles leased.) (Of which 7 miles leased.) Southern Pacifico~ Ariz...... 392 Louisiana Western........... 147 16 Southern Pac. o r New Mex... 167 Ibe1ia & Vermillion.......... .South Pacific Coast....... ... . 101 Texas & New Orleans .....•. 2 16 Northern Ry. of Cal.. ........ 379 Houston & Tex. Cent., etc... 613 Northern Califo rnia Ry...... 54 Gal. Harris. & San Ant...... 937 Gul:1' West. Texas & Pacific.. 111 Leased lines91 .Central Pacific ..............•• 1,360 New York 'l'exas & Mex...... .Oregon & California... ... .... 654 ,California Pacific............. 115 Total Atlantic system ... ... 2,414 Grand total. ••••• . ....... 7 ,371 Total Pacific system ....... .4,957 Steamship, etc., lines .. ...... .4,965 -(V. 64. p. 609, 1136; V. 65, p. 931.) AFFILIATED BUT OPERATED INDEPENJ{ENTLY, Lines on which the Southern Pacific Co. guarantees interest and ~rincipal of the bonds, but which are operated independently. Houston & Texas Central.... 4531 San Antonio & Aransas Pass. 689 Central Texas & Northwest. . 12 Austin & N. W ................ 103 ORG.ANIZATION.-Organized under laws of Kentucky, its system being known as the" Huntington" lines, Mr. 0. P. Huntington being Presi· dent. The control is vei:;ted in the Pacific lmprovement Company, a .corporation with $5,000,000 of capital stock, of which in 1892 the Crooker estate held $1,249,800, and C. P. Huntington, Leland Stanford and Butler, Stillman & Hubbard each $1,249,900; other, $500. PROPRIETARY LINES.-These, with atotalmortgageindebtednessJan. 1, 1895, of $126,005, ~16, are all practically owned-only $1,023,109 out of their total stock of $167,479,259 not being h eld on Jan. 1, 1895, by the Southern Pacific Co. "OMNIBUS LEASE."-Five of the proprietary lines are operated under this lease, which runs for 99 years from April 1, 1885, the Southern Pacitl.c Company 1:1,greeing to maintain the roads, to pay all fl..xed and other charges, including interest on bonds and floating debt, and to divide the total net profits trom operating, after making these pa;vments, among the several parties to the lease, the So. Pac. Co. to receive 10 per cent of such profits. the Southern Pacific of Oalifornia, 44 per cent of net profits, Southern Pacific of Ariz.ona., 10 per cent, SouthernPaci:tl.cofNew Mexico, 6 per cent, Mor.can's Louisiana & Texas, 23 per cent, Louisiana Western, 7 p. c. For lease of Central Pacific see V. 58, p. 819, and V. 60, p. 480. CAPITAL 8TOCK.-8tock authorized, $150,000,000. See v. 48, p. 428. GENER.AL FINANCES.-On July 1, 1897, loans and, bills payable, :$948,925. EARNINGS.-5 months, 51897... Gross, $23,6~8,183'. net, $10,09P,222 July 1 to Nov. 30. ( 1896 ... Gross, 22,1.,8,012, net, 8,852,39q ANNUAL REPORT.-Fiscal year now ends June 30. R~port for year .ending June 30, '97, at le n gt!J, in V. 65, p. 871; see also editorial, p. 8!7. Prornietary L eased. Years end Jwne 30, 1897Companies. Lines. Miles of road....................... . ... .. . 5,243 2,128 $ $ ,Gross transportat'n earnings . . .. . .33,481',479 15,32;{,774 Operating expenses ..... .. .. ... .. .. ..... . 22,11!9,702 9,.U0,251 Southef'n Pac. Go. Tntal. 7,ll7l $ $ 59,647 48,1171,900 €!5,1188 31,675,9tl Earns. over oper ating expenses ... .. 11,2~,777 5,913,523 df.6/41 17,195,959 Other income ...... .. ............ . ........ 1,143,P07 10i,696 1,091,255 2,337,81>8 Tota.I income ........................ . .12,43l.',684 6,016,219 1,084,914 19,533,617 Oharges to income- Taxes...... . .. ...... . . .. . . . . . . .... . . . . . . . . . 884,535 662,703 Trackage and other rentals .... ... . . .... 73l,977 194,066 Rental, California Pacific RR............ . .... . 212,969 interest on bonded debt . .. .............. 7,843,533 4,l!l0,598 Interest on open accounts............. .. 220,868 6,736 inking funds.... ..... . . .. . . . . 415.245 gei.Pft ll.t ~~~:1zii~~~:\~t:fe~t8erc·~~: ~.5.~·~~ 1,oss.'iis Miscellaneous expenses.... .. .... ..... .. . 176,413 100,19'1 0 Hl,9W 1,567,188 15,000 941,04::S ...... 212,ll69 154,350 12,2C8,481 134,4ltt :'162,020 75,000 490,245 ........ 157,849 . .. . ... 1.0:{1'1,178 ........ 282,608 Total charges to income ........... 10,430,420 6,431,44<1 398,716 17,260,581 urplus . . . .. . .. . . . . .. .. .. .. . . . . .. ?,002,06!l df.<ll5,225 6E6,198 2,1!73,0ll7 :Expenditure for betterments......... . . . . . . .. . . .. . .. . ... . . .... ... . ... ... 922.798 Balance over charges and betterments for year. . . . • . . . . . . . . . . . . . . . . 1,350,239 Comparisons for years ending June 30 : '.Years. Av, rage Mites. Gross En.rnvnos. !fJ::i/.\/:L :H>L ffff lil:ffl Operating Expenses. $31,675,941 32,718,122 32,910,020 31,717,<160 34,815,527 Harns.over Op.Exp. $17,l95,llf9 16,868,046 17,064,013 17,610,163 19,5"'1,202 -(V. 65, p. 778,847, 871, 976.) Southern Pacific KR. of Arizona.-(See Maps.J-Own Yuma ·to New Mexico boundary, 393 miles. The stock is $19,995,000,all but $2,400 being held by Southern Pacific Co., which pays all charges .an d 12 per cent of net profits under' ' omnibus lease.'' https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis £755,200 6 g. $1,960,000 6 g. 5 g. 4,222,000 6 1,588,943 5,500,000 4g. 120,934,170 2,572,000 ··6· 6,000,000 6 g. 4,000,000 6 g. 71,742,200 •.. . 12,765,500 6 g. 4,643,000 6 g. 8,045,000 6 g. 5,124,000 6 g. 3,578,000 6 g. 524,000 5 g. 500,000 5 g. 19,671,000 5 g. 4,180,000 6 g. 120,000,000 l m · •. . . 1 8 97 54,300,000 150,000 6 1,997,l'>OO 5 g. 500,000 7 2,000,000 5 to 6 5,660,000 5 to 6 g. 568,00i> 5 g. 5,997,000 6 g. 3 ,368,000 5 897,000 5 g. 400,000 5 500,000 4½1 M. & N. London,Baring Co.,L'd A. & 0 . N. Y. Of., 120Broaaw'y F. & A. N. Y., Office, 120 B'way. ..... J. & J.N.Y.. 8.Pac.,23Br'd8t. May 1, 1903 Apr. 1, 1910 Aug. 1, 1936 . .•..•. July 1, 1937 J:·&-·J. N. Y., 23 Broad St. Ja.n:·1,..i911 J. & J. N. Y.,8.Pac.,23Br'd8t. Mch., 1909 J. & J. do do Mch. 1, 1910 . .. . A. & O. N. Y.,B.Pa.c.,23Br'd8t. Apr:·1,..i905 Oct. 1, 1965 A. & O. do do A. & O. do do Oct. 1, 1906 A. & 0 . do do Apr. 1, 1912 A. & O. do do Apr. 1, 1937 A. & O. do ·do Oct. 1, 1938 J . & J. do do Jan. 1, 1905 M. & N. do do Nov. 1, 1937 J. & J. New York, 23 Broad St. Jan. 1, 1911 • • •· • • •· • • • • • .. .. .. . • ....•.... Jan: 2·0;1!)8, 1 % & & & & & & & & M. & J. & M. & A. J. A. J. J. F. J. A. 0. N. Y.,J.P.Morgan&Co. J. do do 0. do do J. do do J. do do A. do do J. do do 0. do do 8. do do J. do do N. do do .Apr., 1913 July 1, 1909 Oct. 1, 1910 Jan. 1, 1916 Jan. 1, 1922 Various. Jan. 1, 1915 Apr. 1, 1927 Sept. 1. 19l 0 Jan., 1910 Nov., 1910 E.A.RNINGS.-5 months, 51897....... Gross, $1,053,054; net, $380,596 July 1 to Nov. 30. i 1896 ...... . Grose, 892,656; net, 38,623 In 1896, gross, $2,281,682; net, $393,983. In 1895, gross, $2,286 , 576; net, $724,524; surplus over charges, $29,879; net profits due company under lease, $208,366. Southern Pacltlc KR. (of Callf'ornla).-(See Maps.J-Total mileage June 30, 1897, was 1,977, of which 1,970 miles were owned, but of this 242 miles !Mojave to Tbe Needles) held by Atchison in March, 1897, in exchange for 350 miles of roads in New Mexico and Arizona, although the said "oads remain under the So. Pacific mort• gage-the s1:1,le or exchange having the effec t of a long lec1,se-see V. 65, p. \J31, a nri Atch. T. & S. F. item, p. 1 l13-See V. 64. p. 609. Ba.lance (1,735 miles) leased to the Southern Pacitto Co. for tixed oha.rges, betterments and additlonR, and 4! per cent or the surplus income underthe "omnibus lease." 8TOCK.-Of stock Bo. Pacific OompanyJa.n. 1, 1896, held $68,162,250. BONDS.-General Mortgage of 1888 abstract was ln V. 49, p. 509. Oonsolidated Mortgage authorized in Sept., 1893, (see full abstract V. 57, p. 1041), provides for all prior liens and new construction. Bonds may be issued not exceeding $30,000 per mile, of which $7,500 a mile is reserved for additions and betterments. See V. 57, p. 469 . This mortgage covers several new branch lines, total l 93 miles, not-covered by any other mortgage. See V. 57, p 1040. Consols for $1,568,000 issued for extensions were listed in 1896, and $ 1,269,000 in 1897. LAND GRANT.-The land grant was 12,840 acres per mile, and proceeds of sales go to retire bonds, but a large proportion of the lands bar• ren and useless for agricultural purposes without irrigation. In 1895 sales were 6,352 acres for $24,702 and 50,286 acres were surrendered; interest on deferred payments. $52,200: land notes outstanding Jan. 1, 1896, $3,175,542. See So. Pac. item V, 65, p. 778. E.A.RNINGS.-5 months, 51897 ..... Gross, $4,85~ 1 895: net, $2,353,177 July 1 to Nov. 30. ( 1896 ..... Gross, 4,27o,20l; net, 1,835,339 ANNUAL REPORT.-In 18 97 fl.seal year changed from Dec. 31 to end June 30. Separate report for year ending June 30, L897, was given ai length in V. 65, p. 921, 93 L, showin~: Gross . $9,512,556; net, $3,, 33,094 ; rental from A. & P., $436,35:'i; interes t cha~es, $3,028,· 755; taxe11, etc., $377,024'; bal., surplus for year, $763,610. For year e nding Jun e 30, 1896, gross, $10,504,56~; net, $3,978,605. ln 1896, gross, $9,957,8!8; net, $3,678,2,>7. In 1895, gross, $10, 470,434; net, $4,067,678. (V. 65, p. 921,931, 1025. ) Southern. Pacific KR. of New IUexlco-rSee Maps)-Owns Arizona State Ltne w H.10 Grande bridge, etc., 171 miles.· Operated under lease by South~rn Pacific Oompany, the lessee paying all charges and 6 per cent of net profits under the omnibus lease. Stock, $6,888,800 (par $100), all but $2,500 beiug held by Southern Pacific Co. Sinking fund Jan. 1, 1896, $489,549. · EARNINGS.-5 months, 51897 ........ . GrOSEI, $518,010; net, $253,828 July 1 to Nov. 30. c1896 ......... Gross, 453,041; net, 192,982 In 1896, gross, $1,156,617; net, $465,963. In 1895 gross, $1,083,120 ; net, $365,559; surplus over charges, $71,003 ; net profits under lease in 1895, U25,019. In 1894 gross, $926,979; net, $125;356. Southern Kallway Com.pany .-( See Map.J-Company operates 4,752 milmi of road extending from Washington, D . C., and West Point and Richmond, Va., to Danville, Va., Charlotte, N. C., Columbia, 8. C., and A.tlanta, Ga., t hence northerly to Bristol, Tenn., southeasterly to the coast at Brunswick, Ga., and westerly across the States of Ala bama and Mississippi to the Mississippi River at Greenville. Water lines-Baltimore Chesapeake & Richmond S. B. Co., 200 miles. Owned in feeMiles. i]North Carolina RR.W.Point,Va.,to Greensb.,N.C. 233 Goldsb., N. C., to Greensb .. 130 Charlotte.N.C.,to Aug'sta,Ga. 1911 Greensb. to Charlotte, etc.. 94 Col'mbia,S.C., to Greenv.,S.C. 144 Oo,-1·at,-d irnde,· agreenientSalisbury, N.C.,to Morristo'n, ti]'Richmond& Mecklenb. RR. 31 Tenn ...... . ... . ............ 228 tRoswellRR. (Darrow gauge) 9 Bristol to Chatt'ga, Tenn .... 2421 So.Ry.inMiss.(bondsown'd). Ooltewah Junction, Tenn., to StateL.,AJa.,toGreeo .. Miss. 179 Brunswick, Ga.............. 415 j Br'ches to Webbs,Miss.,etc. 60 Austell,Ga., to 8tate L., Miss. 261 Oontrolled by securitiesAtlanta Junc.,Ga.,to Lauder· t,rAshev. & Spartanb'g RR.. 183 dale, Miss . .................. 284 State University RR . .... . ... 10 Atlanta, Ga.,to Ft.Valley,Ga. 102 Elberton Air Line RR........ 51 37 branches, etc ...... ........ 842 t,rKnoxville & Ohio .RR...... 69 So. Ry. in Ky. (all owned). Total owned ....... ...... . 2,942 Louisv.toLexiog'n,Ky.,&c. 123 L ease.drTrackage Rightst,rVirginia Midland Ry. W ashingt'n,D.C.,toAlex.,Va. 7 Alex'ndria,Va.,toDanv.Va. 2311 Mobile Jc. to Birming'm, etc. 7 Branches to Strasburg, &c. 159 York, Al a. , to Meridian,Miss. 27 ,JAtlanta & Charlotte Air L. Kirmingham to Blockton .... 37 Charl., N.C., to Atlanta, Ga. 268 Kentucky & Indiana Bridge. 7 ,rGeorgia Midland Ry........ 98 Selma,N.C.,toPinners Pt.,Va. 155 I I I I Total mileage operated July 1, 1897 .... .....•.....•..... . .. .•• . 4 ,827 t All or nearly all of the capital stock owned. ,r See this company. ~ (lj ~0 ~ t) z~A w. ~ 0 0 w. E-4 ~ 0 i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SYSTEM SOUTHERN RAILWAY} Owned or Leased - - - CONNECTIONS AUXILIARY LINES•11:.:a:::.:c1ca:'id I S4 INVESTORS' SUPPLEMENT. [VoL. LXVI. Subscri bers will cont'er a great favor by giving Immediate notice of any error discover ed In thes e T a ble • Bonds-Prioo RAILROADS. INTEREST OR DIVIDENDS Miles Date Size,or p a l,When Due. Amount Par Outstanding of F or explanation of column headings, &c., see notes of Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. on first page of tables. Cent. Payable Whom. Dividend. Southern By.-( Concluded)- Washington Ohio & Western 1st mortgage ....... 50 West. Nor. Car., 1st con. M., g ....•..•.......... c* 309 East Tennessee Virginia & Geor~iaOld 1st M. s.f.(Bristol,Tenn.v. hat.toDal.,Ga.) 272 Divis'n'l M.~.,(Bristol, Tenn. to Selma, Ala.)c* 552 E.T. Va. & a. consol. M., g. ($20,000,000).c&r 1,020 Ala. Cent. 1st M., Selma to Meridian, gold .•...... 95 South. Ry.-E. Tenn. lien, gold (5 after Mar.,'98) B,-ON PROPERTIES PRACTICALLY OWNED BY (*) OR LEASE Spart. Union & (Jol., $1,000,000 gu. Ash. & Sp.g. "'[Virginia Midland-Serials .•...••••.••..••...... ..... General mortgage ............................•. *'[Charlottesville & Rapidan, 1st mortgage ...... ·2s 'If Atlanta & Charlotte-Stock ..................... Pref. M. (old 7s ext. in '97, V.64, p 286) cur.0'· 26512 1st mortgage .................................. r 26512 In.come bonds (not cumulative) ........•..... r ---->Georgia Midland I st mortgage, interest guar... 98 '[North Carolina-Stock, 612 to De<'., 1901; then 7 ...... *Knoxville & Ohio, 1st mort., gold ........... cw&r 66 C.-ON ALL PROPERTY OF SOUTHERN RY., INCLUDIN G LEA!> Southern Ry. -1st cons. M. g. ($120,000,000> c* &r 4,502 Southwest Pennsylvania-Stock ~$3,000,000 auth.]. 109 1st M., sink. fund $5,000 year y, not drawn ..... r 109 S()uthwestern ( Ga.J-Stock (see text) ................ 333 Sparlanb. Union cf: Got.-lst M.g.,guar.bySo.Ry.c 134 Spokane Falls d! N.-lst M., $20,000 p. m .. g.Ma.c"" 140 Columbia & Red Mt., 1st M., $322,000, gold.Ma .... Red Mountaln lat M., $237,000, gold......... ...6 Spuyten Duyvild!P'tMor.-Stock,8p.c.gu. N.Y.Cent. State .I/ine d! Sullivan-1st mort age .............. c* 24 Staten Isl. Ry.-lst M., $1,000,o8o, gold, gu. p.& i.c* 13 ---- nal 1884 $1,000 1884 1,000 4 F. & A. N.Y.,J.P.Morgan&Co. Feb. 1, 1924 6 g. J. & J. do do July 1, 1914 i877 ---- Total authorized issue ............•......•... _......... $120,000,000 Prior bonds must be paid by maturity. Gha1·lotte Ool. ct .Augusta first, 7s were extended to July, 1909, at 5 per cent. Extended bonds were assumed by Southern Ry., interest payable in 1,1:old.-(V. 59, p. 970, 1006.) East Tenn. equipment notes June 30, 1897, $175,000. On June 30, 1897, bal. of purchase price of Knoxville Cumberland Gap & L. Ry (due April 1, 1898,) was$472,356. .R. & D. equipment bonds, $43,000, have been called for payment March 1, 1898, at par.-V. 65, p. 1116. LATESTEARNINGS.-6 mos. 11897.Gross,$10,493,754; net,$3,501,084 July 1 to Dec. 31. ~ 1896.Gross, 9,838,584; net, 3,299,353 Operating 4,803 miles in 1897, against 4,752 in 1896. ANNUAL REPORT.-Fiscal year ends June 30. Annual meeting is held the fourth Tuesday in October. The report for 1896-97 was given in V. 65, p. 622. See also editorial p. 599. Trajfic.-The freight tonnaire is widely diver ified, which is an ele· ment of strength. Agricultural products in 1896·97 furnished only about 18 per cent (cotton less than 5 per cent), while over 36 per cent. was from mining industries (2812 per cent being coal) and over 31 per cent was product of manufactories. Ton rate, 0·936 cents perm.; train load, 148 tons. Earnings, etc., have been as follows. Years ending June 30. 1897. 1896. 1895. .Average miles operated... 4,806 -1,574 4,139 Freight...................... $12,386,902 $12,055,240 $10,816,024 Passengers................. 4,832,848 5,287,914 4,329,499 Mail, express, etc.......... 1,859,750 1,739,093 1,969,269 Gross earnings ............. $19,079,500 Operating expen. & taxes. 13,233,156 $19,082,247 13,451,4-17 $17,114,792 12,062,855 Net earnings ............ $5,846,344 Op. e;xp. to gross, per cent (69·35) Other income............... 286,832 $5,630,800 188,507 $5,051,937 (70·48) 89,677 Total net income ....... $p,133,176 $5,819,307 $5,141,614 (70·49) $1,025,000 2,531,000 1870 1,000 3,123,000 J. & J. 7 do do July 1, 1 900 1880 1,000 3,106,000 5 g. J. & J. do do July 1, 1930 1886 1,000 12,770,000 5 g. M.&N. do do Nov. 1, 1956 1,000 1,000,000 1879 6 g. J. & J. do do July 1, 1918 1894 4,500,000 4to 5 g. M.& S. do do Moh., 1938 DTO(if ) SOUTH ERN RY. 1,000 ],000,000 1895 4 g. J. & J. N.Y .. J. P. Morgan & Co. Jan., 1995 1881 lOO&c. 7,635,000 4,5,6 M. & S. \ Baltimore, Md. Var. 1906-31 1886 1,000 4,859,000 5 M. & N. N.Y.,J.P.Morgan&Co. May, 1936 1879 lOO&c. 354,000 6 J. & J. Phil.,Tr.SafeD.&Ins.Co. July 1, 1913 ..... 100 1,700,000 M.& S. N. Y., Central Trust Co. Sept.,1897, 3~() 6 1877 1,000 500,000 4c. A. & 0. 1 do do Jan. 1, 1907 1877 1,000 4,250,000 J. & J. 7 do do Jan. 1, 1907 1880 500 750,000 A. & O. 6 do do Apr. 1, 1900 1,650,000 1896 1,000 3 g. A. & O. ,N. Y.,J. P. Morgan & Co. 1946 4,000,000 612to7 F. & A. Burlington, N. C. Feb., 1898, 3% ---· 1885 1,000 2,000.000 6 g. J. & J. N.Y.,J.P.Morgan&Co. July 1, 1925 E·HOI ns,&c., 1st LIEN ON A BT.900M ILES OF ROAD AND ON STE.AMBO ATS. 1894 1,000&c 27,525,000 5 g. J. & J. N.Y.,J. P.Mor§an "Co. July 1, 1994 50 1,499,900 10 in'97 A. & O. Phila., Broad t. Stat•n Oct. 1, '97, 5%1,000 900,000 F. & A. do do 7 Feb. 1. 1917 100 5,191,100 5 J. & J. Sav., Ga. & Macon, Ga. Jan.4 '98,212% ·-·· 1,000 1895 1,000,000 4 g. J. & J. N.Y.,J.P. Morgan&Co. Jan. 1, 199 1889 1,000 2,812,000 J. & J. N. Y., Chase Nat. .Bank. July 1, 1939 6 1896 ...... 176,000 New York. July 1, 1916 6 ~. J. & J. ....... 6 g. J. & J. 1896 217,000 do July 1, 1916 100 989,000 J. & J. N. Y .. Gr'dCent.Station, Jan., '98, 4% 8 1879 100 &c. 280,000 6 J. & J. N. Y., Union Trust Co.I Jan. 1, 189~ 1893 1.000 500,000 412 g. J. & D. New York City. June 1, 1943 Southern Kallway-(Goncluded.J AFFILIATED BUT OPERATED SEP.ABATELY (See each Co.) Alabama Great Southern .... 3571 Central of Georgia Ry ......• 1,463 Cincin. N. o. & Tex. Pacific.. 336 Georgia Southern & Fla...... 285 ORGANIZATION, ETC.-A reor~anization in 1894 of the old Richmond & West Pt. Ter. Railway & Warehouse system. The reorganization plan presented in May, 1893, was given in full in V. 56, p. 858, 874, a.nd certain changes thereof tn pp. 1016, 1058, and V. 57,p. 61. The modified plan of .lt'eb. 20, 1894, was given in full in V. 58, p. 363, 385. In 1895 control was acquired of the Asheville & Spartanburg and the Alabama Great Southern (see those companies and V. 60, p. 433, 1148; V. 61, p. 26), and also a large interest in the Georgia Southern & Florida (see V. 61, p. 113, 375; V. 63, p. 361.) An agreement was likewise made with the Cincinnati Hamilton & Dayton for interchange of traffic with the Cincinnati New Orleans & Texas Pacitto, control of whose stock is owned by the Southwestern Oornitruction Co. for benefit of C. H. & D. and southern Ry. See C. N. 0. & T. P. item V. 65, p. 1173. Georgia Midland Ry. (98 miles) was leased in June, 1896, for 99 years. -v. 6-3, p. 361. In Dec., 1897, agreed to purchase the Memphis & Charleswn, issu· ing its divisional bonds anu preferred stock therefore under plan of exchange in V. 65, p. 1221.-see V. 66, p. 185. The Virginia Midland was acquired in Dec., 1897.-V. 65, p. 1222. STOCK..-Authorized $120,000,000 common and $60,000,000 jtveper cent non-cumiilat-ive preferred stock. No additional mortgage can be put upon the property, nor can tlle amount of the preferred stock be increased without the consent of holders of a majority of the preferred. The preferred stock is redeemable in cash at par. Both classes of stock of the new company (except sutlicient to qualify directors) are deposited with three stock trustees. The stock shall be held by the stock trustees and their successors, jointly till July 1, 1899, a.nd for such further period (if any) as shall elapse before the preferred stock shall have paid live per cent cash dividend in one year, although the stock trustees may, in their discretion, deliver the stock at an earlier date. Certificates of beneficial interest, entitling the holder to dividends, are issued in lieu of the stock so deposited. Stock trustees are J. Pierpont Morgan, CharleR Lanier and George F. Baker. Provisions of the voting trust and preferred stock certificates were given in SUPPLEMENT of April, 1897, page 6. DIVIDENDS.-On preferred in 1897, Jan., 1 p. c.; tn 1898, Jan., 1 p. c. -V. 65, p. 1145. BONDS.-The new first consolidated mortgage, Central Trust Co., N. Y., trustee (see abstract in V. 59, p. 71:13), is secured by mort~age and pledge of all the property of the company. The total authorIZed issue is $120,000,000 of 5 p. c. gold bonds, as follows: Issued to June 30, 1897 (of which $666,000 in treas) ... -. $27,525,000 Issuable only to {" prior bonds" (see V. 59, p. 785) .•••.• .. 69,0~8,700 retire certain stocks (8ee V. 59, p. 786)...... ..••......• 5,700,000 equipment obligations (see V. 59, p. 786) 1,785,672 To be issued hereafter only for extensions and additions at not exceeding $2,000,000 yearly. with a single excep· tion as to $4,000,000 (see V. 59, p. 786)...... .....• ...... 15,900,628 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I ---- Oharges1897. Interest and rentals ....... $5,612,235 C•ther deductions .... ···-·· 75,022 1895. $4,195,925, 49,944 -· Balance, surplus for year.. $445,919 $556,479 $895,7450FFICERS.-President, Samuel Spencer, 80 B'way, N . Y.: 1st Vice• Pres., Alexander B. Andrews, Raleigh, N. C.; 2d Vice•President, W.W. Finley; 3d Vice·President, F. S. Gannon; Treas., H. C. Ansley, 1300 Pennsylvania Avenue, Washington, D. C.; Secretary, Josiah F. Hill, 80 Broadway, N. Y.-(V. 65, p. 1174, 1220, 1222; V. 66, p. 39, 83, 185.} Southwest Pennsylvania Ky.-Greensburg, Pa., to Fairchance,. Pa , 44 miles, and branches, 64 miles; total, 108 miles. Leased to Penn• sylvania RR., which pays net earnings as rental and owns $1,057,25 0 stock and $600,000 bonds. DIVIDENDS.- ( 1892. '93. '94. '95. '97~ '96. Per cent .... 5 10 10 10 11 11 10 ----- Yr. nec.31. Gross. 1896. . $713,793 1895 .... 1,006,186 Net. 1896. $5,218,370 44,458 Int.,taxes,d!c. Divid'ds. ---- Balance. $165,528 $104,100 $164.989 def.$103,561 337,994 102,155 164,989 sur. 70,850 South western KR. (Ga.)-See Map Oentral of Georgia Ry.-Owne Macon, Ga., to Eufaula, 144 m., a.11'1 branches to Columbus, &c., 188 m. LEASE.-Leased for 101 years from Nov. 1, 1895, to the reorganizfl <l Central of Georgia Ry. at a rental of 5 p. c. on stock. From rental in, arrears, ad.Justed, an extra dividend of $10 per share was paid on Jan. 14, 1896; also 80 cents per share, being rental under lease from Nov. 1 to Dec. 31, 1895, was paid, making that dividend $10.80 per sltare. For year ending June 30, 1895, gross, $960,221; net, $84,367.-(V. p. 60,523, Ioo8; V. 61, p, 926, 1156.) Spartanburg, Union & ColuD1bla Ky.-(See Map of Southern. Ry.)-Spartanburg June., 8. C., to Asheville Junction, N. C., 66 miles;. Alston to Spartanburg (formerly Spart, Un. & Col.), 68 miles, and the Southern Ry. owns $1,000,000 of the $1,050,0 00 A.. & S. stock and guarantees the S. U. & U. bonds, which caver entire property. (V. 63, p. 360.) In year 1895·96 ~ross, $372,881; net, $109,392; interest an di taxes, $53,193; rate per ton per mile, 8 cents.-(V. 63, p.360.) Spokane Falls & Northern Ky.-Owns from Spokane, w·ash. , to Canada line, 140·6 miles. The Nelson & Fort Sheppard Railway,. completed in March, 1894, is owned in interest of Spokane Fri.Us & Northern, from rnternational Boundary Line to Kootenai LakP, B. 0., 60 miles. Tbe Columbia & Red Mountain Ry. was constructerl. 11 uing 1896, is 17 miles, and connects the S. F. & N. Ry. at Northport with Rossla.nd in the Trail Creek Mines. BONDS, Erc.-The Spokane Falls interest was scaled to 4.5 per cent. to July I, 1897, but is now 6 per cent as formerly. They carry scrip• to represent the interest scaled; this scrip was payable in cash July, 1897, or in second mortgage bond.i. Stock, $2,812,000; par $100. Loans and bills payable Dec., 1896, $285,000. In March, 1897, the Canadian Paciffc proposed to bull la connecting line from Lethbridge to Nelson, 325 miles, EARNINGS.-10 months. 51897 ..•..... Gross, $518,678; net, $244,742 Jan. 1 to Oct. 31. t 1896 .....• . Gross, 356,995; net. 202,618 For year ending Dec. 31, 1896 (Dec. estimated), gro~s, $439,554;: net, $241,.394. In 1895, gross, $374,294; net, $212,420.- V. 62, p. 366. Spnyten Duyvll & Port Morris KK .-Owns 6 m. double track and connects the N. Y. Central & Hudson with the N. Y. & Harlem . Leased to New York Central till Dec. 31, 1970, at 8 per cent on stock. State Line & SulJlvan KK.-Owns Monroeton, Pa., to Berenice,. Pa., 24 miles. Stock, $980,250 (par $50.) Mortgage covers 5,000 acres. coal lands. Road leased till 1934 to Penn. & N. Y. Canal & RR. (rental, $40,000 per annum), and so operated by Lehigh Valley. Staten Island Ky.-Clifton to Tottenville, 13 Iniles. Leased toStaten Is. Rapid Transit Co. till 1983, at $80,600 per ann., which pays $4 per share on stock, interest on bonds and organization expenses. STOCK.-Authorized, 60,000 shares ori(J"inally $15 per share; outstanding, 14,000 shares. In 1893 change;f formally par value, making each certi:flcate $75, and hence total outstanding $1,050,000. BONDS-Of the 412 per cents no more than $500,000 to be issued ex cept on two•thirds vote of stockholders. They are guaranteed principal and interest by Rapid Transit Co., and are so endorsed. Mercantile Tr. Co., trustee. The bonds were listed on the N. Y. Stock Exchange in October, 1895; proceeds of $200,000 were used to double track and for Tottenville terminals. (V. 56, p. 887; V. 61, p. 737.) Staten Island Rapid Transit KK.-Owns line of road around the Staten Island shore, east and north sides, from South Beach to a _point near Elizabethport, N. J.; total owned 11 miles; leases Staten Island Railway, 13 Iniles; total operated 24 miles. It has a 99 yea.rs• lease of tbe S. I. Railway, including ferry between Tottenville, S. I., and Perth Amboy,N. J. See Rapid Tr. Ferry m "Miscellaneous." Thebridge over tbe Kills at Elizabethport was completed in 1890, and sine& July 1, 1890, the freight traffic of the Baltimore & Ohio RR. Co. to and rrom New York has been handled by this company. See description of mortgages, etc., p. 8, SUPPLEMENr of April, 1896. SECURITIES.-The Baltimore & Ohio guarantees the 2d mortgage bonds and owns $255,000 of the stock of $500,000 (par $100). and! JANUARY, H~~8.] RAILROAD -- STOCKS AND BONDS. 13:i Subscribers urill confer a great favor by giving immediate notice of any error dllil<'Overf'ld in these Table111. RAILROADS. [NTEREST OR. DIVIJJENDS. .Bonas-t'r1nOJ• Miles Date Size,or Arro·mt - - - - - - - - - -.- ------1pal,WhenDue. For explanation of column headings, &c., see notes of of Par OutRta~ding Rate per When Where Payable, and by Stocks-Lat1t on first page of tables. Road. Bonds Value. _ _ _ _ _ Cent. Payable Whom. Dividend. 1 1 6 g. A. & 0. N. Y., foot Whitehall St. Jan. 1, 1913 Staten Isl. Rap. T1·.-lst i\:t.., g., $or£, s.f., notdr.. o* , All. 1883 $1,000 $1,000,000 2,500,000 5 g. J. & J. 1,000 do 2d M.,-g., gu. p. & i. (endorsed by B. & 0.) .... c&r All. 1886 do Jan. 1, 1926 4,500,000 up to 6 g. . . . . . 1,000 do Incomes, gold (non-cumulative) .................. . 1885 do Jan. 1, 1946 100 448,700 23 .Btockbridge d! Pittsjield-6p.c. rentalN.Y. N.H.&H. 6 Q.-J. Stockbridge, Mass. Jan., '98, 112% 375,000 5 g. J. & J. July, '97, coup. not pd. 1,000 40 is9i Stuttgart d! Arkansas Riv.- 1st M. (see text), g .... o 1921 100 500,000 8% in '97 A.. & 0. Boston, S.Dep. & Tr.Co. Oct.1,'97, 4% .Sullvvan Oounty RR.-Stook (owned by Vt. Val.) .. 357,000 4 1,000 A. & 0. 1st mortgage, $400,00 J • . ••••••••• • ••••••••••••••• o Boston. 1894. Apr. 1, 1924 1,000,000 10 in '97 M. & N. Phila.. Broad St. Stat'n. Nov. 1, '97, 5_96 Bunb'ruHazle. d! Wilkesb.--Stock (owned oy Pa. RR.) is7s H><> · ·&c. 976,000 5 M. & N. do 1st, Series A, drawn at 100 ....................... c do May 1, 1928 1,350,000 6 M. & N. 43 1878 100 &c. do 2d mortgage, income ........................... c&r do May 1, 1938 1,200,000 In 1897 A.. & 0. Phila., Guar. T. & S. D. Oct. 1, '97, 4% Sunbury d! Lewistown-Stock, $1,200,000 ...... , ... . 500,000 4 g. J. & J. N.Y.,A.m.Ex.N.Bk.&Ph. July 1, 1936 1st mortgage, $600,000, p. & i., gold ........... o* ·44 i896 240,000 .;lluncook Valley-Stock, 6 p. c. rental Con. & Mon .. 6 J. & J. ... . .. . . .. Jan., '98, 3% .Susq. Connecting RR.-SEE N. Y. SUSQUEHANNA & WE.ST ERN: 236,500 Sussex RR.-lst mortgage .....................•...•. .••. 500 &c. 7 A.. & 0. N. Y., D. L. & W. Office. Apr. 1, 1903 1,000,000 Suwannee River Railway-Stock .•........••....... ...... ..•.. .......... . ....•. ··-· 100 .... 100 2,500,000 8 in 1897 Q.-F. N. Y., D. L. & W. RR. Co. Nov., '97, 2% 81 Syracuse Binghamton d! New Y01·k-Stock ......... . 1876 1,000 1,966,000 81 Consol. M.(p. andi. guar. (end.) by D.L.&W.).c*&r 7 A. & 0. ' do do Oct. 1, 1906 .. .. 100 1,325,000 6 in '97 M. & S. N.Y., Gr. Cent. Station. Sept.1,'97,3% Syracuse Geneva d! Corning-Stock ................ . 625,500 57 1875 100 &c. 1st mort~age, s. f., dr'n at par ................... o 7 Ml5&N. N. Y., Farm. L. & Tr. Co. Nov. 15, 1905 1,000 600,000 5 M. & S. N. Y., Gr. Cent. Station. Moh. 1, 1909 57 1879 , m 2d mortgage ........... ." ......•.....•.....•........ c 1897 ..... . (1) .... ennessee Northern Ry.-lst M ..... .••.............. 6 J. & J. Boston Am.Lo. &Tr.Co. 1927 1889 1,000 Terminal Railroad Association-1st mort., gold .. c* 7,000,000 412g. A. & 0. N.Y.,J.P.Morgan&Co. Oct. 1, 1939 1894 1,000 4,500,000 5 g. F. & A. do 1st consol. mortga~e, $12,000,000, gold ........ c* do Aug. 1, 1944 Bt. Louis Bridge Co. 1st pref. stock, guaranteed. ..•. 100 2,490,000 6 J. & J. do do Jan., '98, 3% .... 100 2d preferred stock, guaranteed, endorsed ..... . 3,000,000 3 J. & J. do do Jan., '98, 112% 1879 500 &c. 5,000,000 1st mortgage, gold ........................... . c* 7 g. A. & 0. New York and London. Apr. 1, 1929 Tunnel Railroad of St. Louis, stock, guar. (end.). 1,250,000 6 J. & J. N.Y.,J. P. Morgan&Co. Jan., '98, 3% 1,000 1,000,000 'II'erminal Ry. ( ButfatoJ-lstM., $1,000,000, g., N.c* 4 g. A. & 0. N. Y. , Security & Tr. Co. Apr. 1, 1946 rerre Haute d! Indiianavotis-Stock ...... ........... o 50 1,988,150 . . . . .. ..... . .. . . . . . . . Feb., 1894, 3% 1,000 1,900,000 Consol. M., now 1st M., limited to $l,900.000, g. 116 1885 5 g. J. & J. N. Y., Farm. L. & Tr. Co. July 1, 1925 1,000 New. cons. M., g., red. aft. July 1, 1902, at 105 .. c 116 1892 g. ,J- & J. do do July 1, 1925 Eqmpment trui:,ts Oct. 31, 1897 ................. . !~ I g~g:ggg g "$2,336,000 of the 2ds or incomes . Interest on 2d 5s due Jan. 1 and Tenne8111ee Northern Ky.-Projee(ed and under construction uly 1, 1897, was paid. Loans and bills payable Sept. 30, '97, $744,409. from the Southern Ry. near Coal Creek, Tenn., through a mountainous LATEST EARNINGS.-July 1 to Sept 30, three months. country to the property of the qumberland Coal & I~on Co. in Blg 3 months to Sept. 30.Gross. Net. Jnt..taxell,cl:c. Bal., sur. Ci:eek Gap. near Fol~tte, Tenn., a distan(?e of about 25 miles. ,:'htrteen 1897 .......... . .......... $192,967 $92,146 $79,922 $12,224 ~~:~ ~~i~~e ire t~n operation. President, Alfred A. Glas10r, 104 1896 ...••• ·········· .. . 219,965 123,069 77,737 45,332 g, 08 n. EARNINGS.-Statement 1896·97, with balance sheet, in V. 65, p. 515, Terminal KR. Association oC St. Louill.-PROPERTY.Year ends June 30. Gross. Net. Int. cl: Taxes. Balance . Owns and operates extensive terminals at St. Louis, with belt lines and '1896-97 ................ $648,414 $256,091 $328,447 def.$72,3.56 bridges, and a tunnel 4,800 feet in length. The Union Passenger Sta1895-96 ................ 76-i,453 347,910 321,467 sur. 26,443 tion at St. Louis was opened Sept. 1, 1894. The station is leased to the 1894·95 ................ 875,343 386,083 326,936 sur. 59,147 tenant lines !or $325,000 per annum on a wheelage basis. -(V.64,p. 331, 955; Y. 65, p. 515, 977.) ORGANIZATION.-Organized in 1889. The following companies are Stockbrld~e &; Pittsfield KK.-Vandeusenville to Pittsfield Role owners: Cleveland Cincinnati Chicago & St. Louis. LouiRville & Mass., 23 m. Leased for 99 years April 1, 1893, to N. Y. N. H. & H., at Nashville, St. Louis Iron Mountain & Southern, Ohio & Mississippi, iJ p. c. on stock. Lessee pays taxes. Lease to HouRatonic suspended. Missouri Pacifl.c and Wabash. These companies have agreed under Stuttgart &; Arkansas River KK.-Stuttgart to Greenwald, contract to use the property forever amt to pay as tolls interest, taxes, Ark., 34 miles; branch 6 miles. Stock, $500,000; par, $100. Mortgage rentais and other charges, and each line will contribute its proportion ·Trustee, Farmers' Loan & Trust Co. Receiver is S. W. Fordyce. Bond• to the extent of one•seventh of $1,000,000 to make up any deholders turned in to mortga~e trustee for cancellation 25 per cent of flciency from unforeseen circumstances. Controls St. L. Merchants' their bonds and all unpaia coupons to and including Jan. 1, 1897. Bridge Term. RR.-seetha.tcomp11,ny.-(V. 57, p. 1084.) ,B onds were thereby reduced to $375,000. Coupon due July 1, 1897, St. Louis '!erminal Ry. ("West Belt Line"), entire stock, $1,200,000, was not pai<;I. Year 1894, gross, $13,759; net. $1,938-V. 61, p. 283. and the entire issue of :firsts, $1,200,000, are deposited with trustee of Summit Branch KK.-See MISCELLANEOUS COMPANIES. Terminal RR. Asso. 1st consol. mortgage.-V. 60, p. 430; v. 62, p. 500. 'SnlJlvan County KR.-Road from Bellows Falls to Windsor, LEASE~.-The leases of the Bridge and the Tunnel are for their Vt., 26 miles, of which 1 mile trackage. Road opened 1849; operated corporate existence, and were made July 1, 1881, to the Missouri Paclflc -t:1inoe April, 1893, by Boston & Maine. Net earning-R, less taxes, paid and the Wabash, bv which companies they were assigned to the preRent essor. Dividends of 8 p. o. in 1895·96 and in 1896·97. association. The lease guaranteed 6 per cent on the Bridge Co's $2,· 1 EARNINGS.-For year ending June 30, 1897, gross, $244,821; net, 490,000 first pref. stock, 3 p. c. on it1> $3,000,000 second pref. and 6 '$71,453; interest, t11,xes, etc., $31,410; dividends (8 p. c.), $40,000; p. c. on th e Tunnel Co's. $l, 2 50,000 common stock. lbal., surplus for year, $43. In 1895·6, net,$70,983. (V. 65, p. 867.) STOCK.-Capital stock outstanding Dec. 31, 1896, $1,441,200. Sunbury Hazleton &; Wilkesbarre Hy .-Sunbury to Tom· BONDS, ETc.-The mortqage of 1889 (trustee, Central Trust Company, hi_cken, Pa., 43 m. A coal road operated by the Penn. RR. co., which was described in advertisement in CHRONICLE 01' February 13, 1892. owns the entire capital stock and $488,600 incomes. Sinking fund for The 1st consol. mortgage of 1894 (Central Tr. Co., of N. Y., trustee,) is 1st mortgage now draws about $11,000 bonds yearly at par. for $12,000,000 of 5 p. c. gold bonds, of which $7,000,000 reserved DIVIDENDS. - ) 1889 _92 . retire firsts of 1889 and $500,000 for completion of East Belt Line. 1893 . 189 '1 to Nov., 1897. toGuarantees , the $3,500,000 St. L. Merchant1>' Bridge Terminal 1st 5s, Per cent.. •· 5 6 yearly. 8 10 (5 semi•annual.) and the interest on the $2,000,000 1st 6s of Merchants' Bridge proper. Year Dec 31.- Gross. Net. Int.,taxes,d!:c. Div'ds;, Balance. (See those Co's.) On Dec. 31, 1896, there was due from St. L. & Mer1896 ... ...... .. .. $529,070 $229,433 $146,064 $100,000 deUt,16,631 chants B1;. Terminal Co. $868,489 for advances on account of guat"an11895 ............. f>59,805 239,739 147,059 100,000 def. 7,320 ty, of which $180,000 advanced in 1895-96, but is not included in ~un1>ury & Lewistown Ky .-Selinsgrove Junction to Lew1s• tl.xed charges below. Bills payable Dec. 31, 1896, $425,512. town, Pa., 4,4 miles; Lewistown Juno. to Milroy, 12 miles. In July, ANNUAL REPORT.-Year ends Dec. 31. Report in V. 64, p. 515, showed: 1896, was mer~ed with the Mifflin & Centre County RR. (12 miles) and YearGross Net. Other inc. Charges. Balance. ~tock increased from $800,000 to ,Sl,200,000 <V. 63, p. 516, 561.) Leased 1896 ... . $1,7!-l9,207 $1,048,440 $330,213 *$1,368,756 sur.$9,~97 for 79 years from Oct. 1, 1896, (original lease was made in 1876) to 1895. ... 1.757,781 1,042,757 333,313 1,370,397 sur.5,673 Pennsylvania Railroad for one-half of net earnings after payment of ,i nterest. Trustee of mortgage of 1896 is Guarantee Tr. & s. D. Co. of * Also paid under guaranty of Merch. Bridge bonds $180,000 in 1896-. Phila. DrvIDENDS-1883 to 1889, inclusive. 6 per ct. per an.; 1890 President, Julius S. Walsh (elected in l\farch, 1896): Vice-Prestdent ·to Oct. , 1897, inclusive, at rate of 8 p. c. Earnings for year ending and Gen. Man., E. P. Bryan; Secretary, James Hanna; Treasurer, A.. H. Dec. 31, 1896, gross, $414,884; balance (over charges) to Sunbury & Calef. (V. 60, p. 430,521,930, 1060; V. 62, p.499; V. 64, p. 515.) L., $85,410.-(V. 63, p. 516, 561; V. 64, p. 1043.) Terrni~al Ky. of" Buff'alo.-Projected and partially constl"ucted Suncook Vallt>y KK.-OwnsroaqSuncooktoPittsfleld, N. H., 17 from Bbusdell, N. Y., to Depew, Erie Co., N. Y., 11 miles, to Dec., miles. Leased till 1912 to Concord & Montreal for 6 p. c. on $240,000 1897. Work beg~n. in July, 1897. Stock is $1,000,000; par, $100. -0f capital stock; total stock issued is $341,700, of which $101,700 is Lake Shore & M1clngan Southt1rn owns 5,000 shareR or the stock. now dividend paying. President, Hiram A. Tuttle, Pittsfield, N. H. Secretary, E. V. W. Rossiter, N. Y. City.-V.!64, p. 1138. Suspension Bridge &; Erle.-Merged in Erie RR. in April, 1896. Terre Haute&; Indianapolis KK.-(See Map Pa. RR.)-Owns Sussex RK.-Owns road from Waterloo to Franklin. N. J., and Indianapolis to Illia.ois State line, 80 miles, with coal branches, 36 branch, 30 mile•. Road opened l8fi4. Since 1881 operated by Del. mp.es; total, ~16 miles: Leases Terre Haute & Logansport RR., 1~3 Lack. & W., which owns a majo-rity of the $1,638,600 stock. For year mµes.; St. Loms Vandalia & l'erre Haute, 158 miles; Indiana, & Lake 1895, irross, $1~6.286; net, $26.573; interest on bond~ $16,555; bal- M10higan RR., South Bend, Ind., to St Joseph Harbor, Mich., 40 m.: Terre ..ance, surplus, 'lil0,018. In 1894, gross, $96,888; net, -i,8,787. Haute & Peoria (lesR trackage rights on 38 ruiles and haH ownership Syracuse Binghamton&; N. Y. KK. -Geddes, N. Y., to Bing- in 8 miles), _174 m.: E. St. L. & Carondelet Rv. (operated under con• tract) 13 mile!<; total, 684 miles. Pa. RR. owns a large block of stock. hamton, N. Y., 81 miles. Controlled since 1857 by Delaware Lack. & W., which, July 1, 1896, owned $1,912,000 stock and guar. the bonds. . RECEIVERSHIP,---:On Nov. 1?, 1896, Volney T. Mallott, of IudianapoDIVIDENDS ..... l '88 '89 '90 '91 '92 to Nov., '97, inclus. lls, Ind., was appomted receiver. See statement in V. 63, p. 1011. Per cent ........ 5 12 8 8 13 8 yearly (2 p. c. quar:) LEASES, ETc.-Leases St. Louis Vandalia & Terre Haute RR. on joint acco~mt with Pittsburg Cincinnati Chic. & St. L. RR., at 30 p. c, oi gross EARNINGS.-For years ending June 30·earnmgs, and owns $500,000 of its com. and $326,000 of its pref. stock, YearG-ross. Net. Int. d! taxes. Dividends. Bal., sur. Sl.896·7 ...... $839,185 $386,696 $184,283 DIVIDENDS: 1878 to 1884, 8; 1885 to Feb., 1894, R p. c.: none since. $200,000 sur. $2,413 1895·6 . . .... 896,591 369,617 187,371 200,000 df. 17,754 In 1893 six per cent equipment notes for $400,000 were iFsued, maturing $5,556 monthly, the Vandalia to pay 42 per cent of these, NOTE.-Net in 1896·7 includes $15,404 of other income. the T. H. & L. 17 p. c. and the T. H. & I. 41 p. c. On Oct. 31, 1897 bllls -(V. 63, p. 267,881; V. 64, p. 424; V. 65, p. 568.) payable, $182,000; car and locomotive trusts, $2-76,633. ' Syracuse Geneva&; Corning Ky.-Ownsfrom Corning-, N. Y., GUARANTIES-Guarantees bonds of the St. L. V. & T. H., T. H. & to l¼eneva, N. Y., 58 miles; Penn Yan to Dresden, 6 m. Leased to Fall Brook Ry. Stock $1,325,000 (par $100); N. Y. Central owns $662,600. LoganSJ?Ort, T . .S:· & Peoria and lnrlia na & Lake Michjgan-see those compames-but mterest on Ind. & Lake Mich., T. H. & Peoria and T . . DIVID~NDS since 1891.: In 1892, 10 p._ c.: in 18!l3, 12 p. c.; in 1894, H. & Logansport extension bonds in defa111t. V. 63, o. 407. Interest 7 p. o.; m 1895, 8 p. o.; m 1896, 8 p. c.; m 1897. 6 p. c. due Jan. 1, 1 898, on Terre H. & Indianap . consol. 5s of 1885 and 1892 In year ending June 30, 1897, gross, $655,567: net, $213,891 · was paid. irental and taxes, $229,551; loss to lessee, $15,660. In 1895·96, gross; _ANNUAL REPORT-~iscal year ends Oct. 31. Report for 1895·6 was :$704,429; net, $211,402.-(V. 63, p. 190.) g1ven at some len~h m V. 64, p. 466. Ou 116 miles owned .,.ross for Te~nessee Central Ky.-Partly completed from Lebanon to 18 96-7, $1,166,387; net, $329,580; intere~t, $125,000; loss 'ilJ operat• :St anding Stone, etc., 27 miles. Line between Knoxville and Nashville ing leased lines, $165,580; balance, surplus for year, $39,000. In 1s to be built. This company is succesi>or to the Tennessee Ctwtral 1895·6, gross , $1,213,573; net, $196,691; other incttme $46 833· in.Railroad, sold in foreclosure in Jun"', 1897. Capit::t.l stock is author• terest, $125.000; loss in operating leased lines, $279 7'94 · balaiice iz ed at $20,000 per mile of completed road. (V. 66, p. 83.) deficit, $161,273.-(V. 63, p, 26, 407, 924, 1011; 64, -166.) ' https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v. p. INVESTORS' 136 SUPPLEMENT. [VoL, LJ:VI. Subscribers will cont'er a great f'avor by giving Immediate notice of' any error discovered In these Tablea. RAILROADS. For explanation of column head.in gs, &o., see notes on first page of ta.bles. I I INTEREST OR DIVIDENDS. Bonds-PrlnciMiles I Date Size, or Amount - - - - - - - - - - - - - - - - - 1 p a l , W h e n Due. of of Par Outstanding Rate f.er When Where Payable. and by Stock,a-Last Road. Bonds Value. Cen . Payable Whom. Dividend. -- - -1879 93 J'erre Haute <I Logansp.-ls tM., gu ar. byT.H.&Ind. 65 Ext. M. lstM. onLogans.toSo.B . (2d on 93 m .)gu. Terre Haute <I Pe01-ia.-Common stook .............. ..... Preferred stock, 6 per cent, non-cum ............. ..... 138 First mortgage, gold .......... . . 1st con.sol. M., $2,500,000, g., gu . p.& i. (end.) ... o* 138 Texas Oent1·al-Common stock . . --· -············--· .... Preferred stock, non-cum ...... . 1st mortgage for $2,000,000 gola::red:at"io5.::o• i75 52 Texas Midland RR.-lst mortgage ... .... ............. 52 2d mortga~e .................... . J'ex. <IN. o. of'74-Land gr. s.f.not drn. , lstM•. o*&r 105 i,.abine Division l1<T, mortgage, g old........... o*&r 104 Consol. mortgage for $4,195.00 0 ... . ...•..... 0 .. &r 209 Texas school fund June 30, 189 6 • . .•.... . . . ....... J'exas <I Pacijto--Stock, $50,000,000 ..... . ........... 1,506 1st M. (Eastern Div.), gold, s. f. red. at 100.... o* 505 1st oonsol. mort. for $25,000,00O, gold .......•. o' 1,387 2d oonsol. M. ($25,000,000), gold (see rem.) .... o* 1,387 Car trusts June 1, 1897, payable monthly ..... Texas Sabine Val.ti N. w.-lst M. $ 12,000 p.m., g .. o J'i,oga RR.-Stock '$189,700 is preferred) ........... 1st M., due 1882 and extended, gold ..•••......... 46 Extension bonds ............... . 7 Elmira State Line Railroad 1st m oriage, guar .. J'oledo A.nn Arbor <I North Michigan- EE ANN AR BORR J'oledo <I Ohio Oentral-Common stook .............. ..... Preferred stock ................. . 1st M., g .. limited to $3,000,000 (V. 53, p. 436) . . . Weatern Div. 1st mort. for $2,500,000, gold .... o* Text. General mortgage ($2,000,000), gold ......... .. o* 335 Car trusts, Series 5, 6, June 30, 1897 (prin'pal) ... ·ss ·¥s ios $1,000 1,000 100 100 ---1,000 1887 1,000 1892 1883 ..... ---· i893 1893 1893 1875 1882 1893 .... i875 1888 1888 isss $500,000 6 J. & J. 1,000,000 6 J. & J. . ... . .. 1,926,800 . ..... 1,837,400 M:·&·s . 112,000 5 g. M.& S. 2,048,000 2,649,400 .. . .. 1,324,500 3 in 1897 250,000 6 g. A.& 0. i:ooo 1,000 150,000 5 J. & J. 1,000 750,000 5 J. & J. 1,000 1,620,000 7 F. & A. 6 g. M.& 8. 1,000 2,575,000 1,620,000 1,000 g. J. & J. 386,099 ;M. & N. "ioo 38,710,900 1,000 3,784.000 8. 1,000 21,206,952 5 g. J. & D. 5 g. Moh. 1. 1,000 23,172,588 64,988 ··5·g. J. ··&:·J. 473,000 i:ooo 50 580,900 ... 5.g. M:-&:'N. 500 &o. 239,500 1,000 265,000 7 A. & 0. 500 &o. 160,000 7 A. & O. ------ ---- ---- ---· --·s·g. M:·&:· 100 100 1,000 1,000 1,000 ···-·· Terre Haute & Logansport KK.-Owns from South Bend, !nd., to Rockville, Ind., 161 miles; trackage, Rockville to Terre Haute, 22 miles; steel, 60 and 70 lb. Leased to Terre Haute & Indianapolis RR. for 99 years from December, 1879, at 25 per cent of gross earnings and first mortgage bonds guaranteed. Stock, $500,000 ; par $50. Interest due Jan. 1, 1898, on 6s due 1910 was paid when due at Farmers' Loan & Trust Compa.ny, but no interest has been p aid on the extension mortgage 6s due 1913 since January, 1896. V . 65, p. 368. Decree of sale granted in July, 1897. V. 65, p. 152. Under the. extension mortgage or 1913 70 per cent of outstanding bonds deposited. See V. 64, p. 85. OommitteetJ-First Mortgage Oommi ttee-M. L. Scudder, 32 Liberty St., N. Y.; Charles E. Jackson and Henry B. Ely. Depositary, New York Se<'urity & Trust Co., 46 Wall St. V. 63, p. 756. Extension Bondholders' Oommittee-Chairma.n, R. Dale Benson; Charles Pratt,~- S. Brook, H.F. West, Aug. Thomas. Depositaries, Drexel & Co., Phila.; N. Y. Security &Trust Co., N. Y.-(V. 63, p. 117, 839.) Earnings.-Fiscal year ends Oct. 31. Report for 1896 was given in •V. 64, p. 467. In l8ij6-97 gross, $622,415; net, $156,834: rental from lessee, $155,604; balance, profit to lessee, $1,230. In 1895-96, gross, $595,719; net, $81,526; rental pa.id T. H. & L., $148,930; bal., loss to lessee, $67,404. In 1894-5, ,rross, $680,649; net, $122,146. (V. 65, p. 152, 236, 368.) Terre Haute & Peoria KK,-(See Map of Pennsylvania RR.JRoad operated from Terre Haute, Ind., via Decatur, to Peoria, ill., 173 miles, of which 13'3 miles are owned and half interest owned in 7 miles and 28 miles is by trackage over other roads. From Oct. 1, 1892, leased for 99 years to the Terre Haute & Indianapolis at rental of 30 per cent of gross earnings, with a minimum sufficient to pay interest on debt. See V. 55, p. 766. Lessee owns $544,200 preferred and $1,388,000 common. COMMITTEE. - Interest due Sept. 1, 1896, was not paid. Bondnolders' Committee-Chairman, Mark T. Cox, James A. Blair, James w. Paul, Jr. Depositaries, N. Y. Security & Trust Co. N. Y., and Drexel & Co., Phila. A majority of bonds has been deposited and reoeiv,.r appointed for the T. H. & I. RR. (lessee). The oonsol~ [ Union Trust Co., N. Y., trustee], carry the guaranty of the T. 8. & Indi::ma,p olis. Fiscal year ends Oct. 31. In 1896-97, gross, $395,621; net, $26,175; rental from lessee, $118,686; b alance, lo ss to lessee, $92,511. In 1895-96, gros-., !t40:i,fl59; net, $18,663; rentals to T. H. & P., $121,068: balance, loss to lessee, $102,40.1. In 1894-95, gross earnings, $445,483; net. $67.543. (V. 64, p. 461.) Tehuantepec National Ky. (1'Iexlco)-See V. 63, p. 31. Texas Central KR.-RoAD-RunsfromRoss, tn McLennan Co. to Albany, Tex., etc.. 186 miles; branch, Ross to Elm Mott, 1 ·6 miles, connecting with M. K. & T. This railroad company in January, 1893, took over the railway company's. main line sold in foreclosure April 22, 1891. The new mortgage provides for old liabilities, b etterments a.nd future extensions. On Jan. 1, 1897, $250,000 additional firsts wereheldintreasury. AstoWaoo&North WesternseeV.64,p. 707. Dividends on Preferred.-In 1896, Jan., 3 p. o.; in 1897, Jan., 3 p. o.; in 1898, Jan., 3 p. o. L.A.TE!\T EARNINGS.-11 mos., 51897 .Gross, $301,223; net, $107,430 Jan. 1 to Nov. 30. <1896 .. Gross, 260,359; net, 69,839 In year ending Dec. 31, 1896, gross $293,415, net, $84.,288; interest on bonds, $15,000; dividends, $39,735; spent for improvements, etc., $29,493; balance, surplus for year, $60. In 1895 gross, $317,. 162; net, $111,786. (V. 62, p. 546; v. 64, p. 514,707; V. 65, p. 622.l Texas Midland KK.-Road from Ennis on Houston & Texas Central Ry. to Paris, Texas, 125 miles (of which 52 miles Greenville to Paris completed in Oct., 1896.) Formerly part of Texas Central Ry.; in 1893 purchased by Mrs. Hetty Green. rt waq reported in March, 1897, that rails had been purchased to extend the road from Greenville to Dallas and Waco, 130 miles. BTOCK.-$500,000; par, $100. Total current liabilities July 1, 1895, $639,358, including $86,866 unpaid coupons. For year ending June 30, 1896, gross, $141,876; def. under operating,$27, 197; other income, $129; charges, $171,352: bal., deficit, $198,420. In 1894-!l5 gross earnings, $193,577; deficit from operating, $20,747. President, E. H. R. Green, Terrell, Texas.-V. 63, p. 839. Texas & New Orleans RR. ( of 18 '7' 4).-Houston, Tex., to Orange, (Babine River), 105 miles; and Sabine City to Rockland, 102 miles; Texas Transportation Co., 8 miles, was purchased in 1896. SECURITIES ETC.-A r eorganization in 1874. The stock is $5,000,000, all but $2,500 of it b eing owned by the Southern Pacific. First 'is are purchased by th e sinking fund at not over 110. Subsidy lands Jan. 1, 1894, were 734,969 acres; other lands 115,523 acres. E.A.RNINGS.-5 months, 51897 ...... .. Gross, $548,112 net, $214,214 July 1 to Nov . 30. t 1896 ........ Gross, 604,3 6 1; net, 189,404 In 1896, gross, $1,395,966; net, $457,257. In 1895 gross, $1,632,910; net, $675,251; surplm•, including other income, over charges and taxes, $365,768. (V. 62, p. 1140.) Texas & Pacific K}',-ROAD: New Orleans, La., westerly to El Paso, Texas, 1,159 miles; Marshall via Texarka na Junction and Whites· boro to Fort Worth, 316 miles; branches, 24 miles; total, 1,499, of which 92 miles, Sierra Blanco to El Paso, i s trackage, and 21 miles, Shreveport to State line, leased, leaving 1,386 miles owned. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Yan: g is52 1875 1875 AILW.A. Y. iss5 1892 1894 ···f;g. 6,500,000 3,708,000 3,000,000 2,500,000 1,500,000 261,641 ....... . . .... J. -·&: ·J. 5 g. A. & 0. 5q- J. &D. Quar. 6& """5"g. N.Y.,Farmere'L.&T.Co. Jan. 1, 191 0 J'ly,'96,ooup. in default Jan. 1, 191 3 -----····· ··· ····· Mar.·1.;°i92 In default. Mar.,' 96, coup.last paid Sept. 1, 194 N.Y.,Moran)is·wm. St. None in 1894·95 None in 1894·95 N. Y., S.Pao.,23Br'd8t. do do N. Y., Central Trust Co. Jan: i'5;•iis,3~ Apr. 1, 19 3 1993 1993 Aug. 1, 190 S~t. 1, 191 J y 1, 194 2 p. ct. per an N.Y.,Mero.Tr.Co.&Phil. Moii.· 1,--ioo5,, do June 1, 2000 do None paid. Dec. 1, 2000 1897·'98. Road sold Mar. 2, 1897. July 1, 193 8 · Phil.,Newbold's Bon&Co Nov:i',..i915 Elmira,Chemun~Co.Bk. Oct. 1, 190 do o Oct. 1, 190 N. Y., Central Trust Co. do do do do do do do do ---·------ Nov.25, 189 July 25,'96,l July 1, 193 Oct. 1, 193 June 1, 193 See text. ORGANIZATION.-In 1888 reorganized by the plan 1n v. 43, p. 164, and, V. 45, p. 401, without having the foreclosure sale' confirmed, thus preserving the original Federal charter. Land assets Jan. 1, 1897, were, • 86,954 acres, some 13,000 town lots and land notes $81,442. Bee:also Texas Pacific Land Trust in "Miscellaneous Cos." 8TOCK.-Mo. Pacific Dec. 31,1895, owned $6,525,000 stock, pledged as . part security for its funding notes or 1895 and valued for purpose of withdrawal at $978,750. BONDS.-Trustee of first mortgage ot 1888 is Fidelity Ins. Trust & Bate Oeposit Co., of Philadelphia; of second mortgage of 1888 Mercantile rrust Co., of New York. (See mortgage abstracts, V. 47, p. 82.) June 1, 1897, Texas school loan was $130 396. for which $167,000· first consolidated 5s are reserved; $73,000 old bonds are unredeemed; interest scrip, income and land grant bonds (retirable under reorgani- • za.tion agreement), $296,39:2; other serip, $10,381. GENERAL FINANCES.-No interest has been paid on second 5s, but there is no right to foreclose unless default is made on first mortgage. Holders of one·third of the outstanding seconds, however, may requirethe trustee to enter upon and operate the property, but- this right has.., never been exercised. The company has been spending its earnings in needed improvements. Jan. 1, 1897, about 4.0 miles of iron rails remained to be replaced by steel. contracted to be done in 1897. EARNINGS.-Jan. 1 to Dec. 31, 12 months, gross, $7,499,703 in 1897 $6,825,144 in 1896. ANNUAL REPORT.-Annual meeting is held in New York on the third.\ Wednesday in March. Report for 1896 was ln V. 64, p. 564. Year ending Dec. 31- 1896. 1895. 1894. 1893. Gross earnings ...••• $6,821'>,145 $7,015,309 $7,353,013 $7,334,294, Net earnins-s, ....••.. 1,457,5r,9 1,614.,648 1,863,189 1,912,765 Other receipts . ...... 109,533 86,324 71,954 117,768 Total income .... $1,567,092 $1,700,972 $1,935,143 $2,030,533 Paid rentals, etc..... $81,326 $83,877 $109,277 $91,127 Interest on debt ...... 1,279,490 1,279,490 1,279,490 1,279,490-- ----- Surplus for year. $206,276 $337,605 $546,376 $659,916New equip. r.est.,eto. $212,287 $182,633 $278,041 $132,819. -(V. 60, p. 519, 523; V. 62, p . 544; V. 63, p. 153, 649; V. 64, p. 5 64.) Texas Sabine Valley & Northwestern Ky.-Longview Junc-tion, ·rexas, to Boren, Texas, 40 miles. Reported sold 1n foreclosure Mar. 2, 1897, to F. T. Rembert, D. D. Durham and G. T. Merrill o f" Longview, and the Grigsby Construction Company of Jefferson, Tex., for a total of $10,000. For year ending June 30, 1897, gross, $36t843; net (over taxes), $11,134. In 1895-6 gross, $34,808; ne $7,280. In 1894-5, ~oss, $46,598; net, $12,556; ohar~es, $15,76~ In 1893·94, gross, $51,918.-(V. 62, p. 1179; V. 63, p. 155; V. 64, p. 708. Toledo Ann Arbor & North 1'Ilch,-SEE ANN ARBOR RR. Toledo & Ohio Central Ky.-(See MapJ-This road, well shown on the accompanying map, is made up as follows: Lines owned. Miles. , Trackage (37 miles.) .lliles · Toledo to Bremen ....... . ...... 173 In Toledo (L. 8. & M. 8.) . ...... l• Alum Creek to Truro Juno.... 4 Bremen to New Lexington .... 11 New Lexington to Corning.... 131 To Millfl.eld and to Carringron 21> Prentice to Thurston .......... 145 --1 Total operated .....•....... 372" Total owned ..•....•••..••. 335 ORGANIZ.A.TION.-Formed after sale in foreclosure of the Ohio Centralmain line on Avril 15, 1885. In October, 1890, a lars-e interest in the Kanawha & Miohiiran (which see) was acquired, and m Aug., 1893, an,, extension of the K. & M. connecting with the Ches. & Ohio was opened· CAPITAL STOCK.-Common stock was increased in February, 1891. lrom $1,849,000 to $4,849,000, and in March, 1893, to $6,500,000, for extensions, rolling stock and improvements. The preferred ts entitled to 5 per cent non-cumulative, then common, to 5, then preferred to 2, then common to 2, then both share, pro rata. DIVIDENDS.-On common: In 1891, 2 per cent; in 1892. 4 p. o.; in, 1893, 2 p. o.; none since. On preferred from April, 1890, to July,. 1896, inclusive, 5 p. o. yearly (114 quar.); none since. V. 64, p. 135. BONDS.- Western .Division mortgage covers the road from Toledo,, to Truro Junction, 139 miles, and also (subject to the first mortgage of 1885) the rest of the property. See V. 55, p. 322,545,590,625. General mortgage of 1894 (Central Trust Co., New York, trustee) is.for $2,000,000, secured by a ~eneral mortgage on all the rail way, property, terminals, equipment, rights and franchises of the company now owned or hereafter acquired.-V. 62, p. 594. The Toledo & Ohio Central guarantees the principal and interest o~ the Kanawha. & Michigan first mortgage bonds. (See that company.) GENERAL FINANCES.-In March, 1896, were listed on the New York;. Stock Exchange $1,500,000 general mortgage bonds issued for the purposes stated in V. 62, p. 594. On June 30, 1897, loans and bill& payable were $5ti5,04 I. The unencumbered equipment consists of 73 locomotives, 34 passenger oars and 3,049 freight oars. The car trust obligations now in force cover 10 locomotives, 1,000 coal oa rs and 1,450frelght oars; theyhavebeen reduced from $1,181,284 to $261,64.1 on June 30, 1897; $102,564. are 7s. TOLEDO & OHIO CENTRAL R'Y AND OF THE KANAWHA & MICHIGAN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILWAY .. INVESTORS' SUPPLEMENT. 138 (VOL. LXVI. l'iubscrtbers will confer a great t"avor by giving tnunediate notice of any error d18covered in these Table•. Is•- RAILROADS. INTEREST OR Boncts Wh-PrmD Cl• -------- - - -- - - · - - - - - - 1 M i .les Date u.e,or I -------.D[VIDENDS. - - - - - - - - ipa, en ue. 1 For explanation of column headings, &o., see notes of of Par ~~~g Rate per When Where Payable, and by Stocks-La.st on first page "f tables. Road. Bond1:1 Value. 0 Cent. Payable Whom. Dividend. - - ---· - - - ------ ---- - - - Tot. cf Ohio Gent. Ext.-Marietta Mineral 1st M., g .. 1st mortgage for $1,500,000, gold ..•.••........ c* M:; croj:'$5:cioo:oo·oi;g~o; 39 15 roie~ei>~~~g~ii.:..::{ii 230 Debenture scrip, authorized $220,275 ..........•. Totedo St. Louis & Kansas Oity.-Common stock ... 45i Preferred stock, 4 fer cent, non cumulative...... 451 1st mortgage, gol (redeemable at 105) ........ o* 451 Car trusts, Dec. 1, 1>197 ........................... l'oledo Saginaw d: Muskegon-Stock ......•.......••. 1st mortgage . .•.••.......................••........ .96 Toledo Watlwnding Valley cf Ohio-Stock ......•.... 125 Gen. M. ($20,000 p. m.), A, guar. p. & i. ....... o* 125 $4,000,000, gold...... B, do ........ o" Toronto Hamilton &: Buffa o-lst mortfcage, gold.c* Traverse Oity RR.-First mortgage, go d ............ 26 Troy&: Greenbush-Stock, 7 per cent rental, N.Y.C. 6 Tuscaloosa Belt-1st mortgage, $1o0,000, gold.Kc Tyrone cf Olearjietdr-lst M., uar. p. & i. Pa. RR .. io5 Ulsterd!Delaware-Stock ($3, 00,000 authorized) . . Consol. M. for $2,000,000, gold ................. o• Unadilla Valley-Stock ($200,000 authorized) •... . 1st M.,$250,000,$12,500 p.m.,g., red. at 110 c*&r Union Pacific .RaUroad-SECURITIES TO BE ISSU ED. Common stock, $61,000,000 ...................... Pref. stock, 4 per cent, non-cum., $75,000,000 ... 1st M. Ry and land grant, $85,000,000 gold ..... /i ·s2 8 io2 1885 $100&0. 1,000 1888 1,000 1891 1,000 1887 100 100 1,000 iss6 isss isifr 1893 1896 1883 is93 1882 1888 is93 --i·oo 1,000 100 1,000 1,000 1,000 1,000 50 1,000 1,000 100 1,000 100 500 &o. 100 100 1f is97 $650,000 850,000 600,000 4,895,000 220,275 11,250,000 5,805,000 9,000,000 323,407 1,6,,0,000 1,649,000 2,500,000 1,500,000 1,007,000 3,280,000 250,000 275,000 95,000 1,000,000 1,794,600 1,997,300 187,500 (i) (~) 6 g. M.&N. May, '93, coup. last pd. 5 g. M.&N. See text. In default. 5 F. & A. 4 g. J. & J. N. Y., Am. Ex. Nat. Bk. 5 Jan. N. Y., Farm. L. & T. Co. ...6.g. . ""5.. J. ..&..D. Dec. '92, coup. last paid June· 1,..i91s Monthly. ..&.. J. J. J ...&.. J. J. & J. J. & D, J. & J. N. Y., Office, 271 B'way. Juiy • 1; ·i91s 4lgg, N.Y.,Farmers' L'n&Tr. 41g g. do do 4 g. N. Y., Bost. & London. Jan., '97, paid Jan., '!:18 3 g. N. Y., Gr. Cent. Station. 7 5 g. J. & D. N. Y., Knickerb. Trust. 5 J. & J . All owned by Penn. R ~- ...5.g. ...5.g. May 1, 1915 Nov. 1, 1938 Aug. 1, 1911 July 1, 1917 1905 Juiy. 1,--i931 July 1, 1933 June 1, 1946Jan. 1, 19;-s;, ·i°933· Jan. 2, 1912 J. ..&.i>. N. Y., Central Trust Co. June·1;·i92s J. ..&..J. N. Y., De Coppet & Co. Jan:. z: .i933 4 g. J. & J. Int. fro·rii·jitl_y·i, 1897. Juiy. i","i947 11 $500 and $1,000. Fixed Bal., incl. EARNINGS.-5 mos. G1·oss. Net. Oharges. oth. income. July 1to51897 .... . $725,213 ~216,744 $193,753 sur.$27,647 Nov. 30. U896..... 76<1,69l 189,472 189,397 sur. 1,732 ANNUAL REPORT.-Fisoal year ends June 30. Annual meP-ting is held a.t Toledo on the first Monday in September. Report for 1896-97 was in V. 65, p. 922. Of total tonnage 62 per cent in 1896-97 was bituminous coal. Years ending Jitne 301897. 1896. 1895. Miles operated,................ 372 372 367 Gross earnings ................. $1,750,979 $1,944,503 $1,903,990 Net earnings.................. 465,704 617,845 605,584 Other income.................. 8,208 9,533 9,421 Total net income............ $473,912 Interest, taxel'!, etc............ 467,475 Dividends............ . ......... 46,350 $627,378 46!:1,564 185,400 $615,005 424,265 185,400 Balance for year ............. def.$39,913 def.$27,586 sur. $5 340 -(V. 63, p. 2:.!6,457, 752,756; V. 64, p. 135,566; V. 65,p. 564, 922,) Toledo & Ohio Central Extension KK.-Owns from Moore's Junction to Palos, Ohio, 42·08 m.; branches, 7·42 m.; total owned 49·50 miles; trackage (Baltimore & Ohio So. Western) Marietta to Moore's Junction, Ohio, 3·20 m. Of the first 5s $300,000 cNos. 1 to 300) had interest guaranteed by the Tol. & Ohio Cent. RR. Co. The guaranteed int. of Nov., '96, was paid by the ·.r. & 0. C. A receiver was appointed in N~v., 1893; receiver now is T. D. Dale, of Marietta, Ohio. Receivers' certificates for $25,000 have been issued. Foreclosure suits underthree?lortgages have be~ninstituted. J. S. Durand, 146 Bro~dway, N . Y., 1s secretary of Manetta Mlnera1 Ry. bondholders' committee. On July 1, 1895, capital stock was $2,100,000; equipment obligations, $18,803; current liabilities, $68,367. EARNI os.-:-For year ending June 30, 1897, gross, $61,955; deficit under operatmg, $4,025. In 1895-6, gross, $66,466; net, $1 38 l. In 1894-9_5 , gros , $52,718; deficit under operating expenses.' $4,595; other mcome, $L,525. In 1893-94, gross. $49,881; deficit under operating expenses, $21,337. lV. 57, p. 854, 894.) roledo Peoria & W_estern K~.-rseeMap of PennsylvaniaRR.J -Owns from Effner, Indiana t?t~te line, to Warsaw, ill., 220 miles; La Harpe to Iowa, ill., 10 m.: 1omtly with Wabash, 1 mile; trackage to Peoria and Burlington, Ia., 17 m.; total, 248 miles. ORGANIZATION.-In 1894 joint ownership and management by Pa. RR. and C. B. & Q. was arranged. STOCK AND BONDS.-Stock is $4,500,000 (par $100), of which $423 . 100 is in treasury June 30, 1897. Abstract of mortgage (Charles Moran, Thomas _Denny and Cornelius B. Gold, trustees). (V. 45 p. 242.) As to voting power on bonds see V. 61, p. 514. ' In October, 1~94, coupons of ,!uly 1, 1894, and · Jan. 1, and July 1, 1895 (3 coupons), were paid $5 m cash and $15 in debenture 5 p. o. scrip payable 10 years from Jan. 1, 1895, for each coupon; said scrip secured by deposit of the (?011:Pons funded. (See V. 61, p. 514.) Coupons due July 7, 1897, were paid m cash on that date. Bills payable (for equipment), Juno 30, 1897, $297,190. EARNINGS.-6 months, i 1 ~97 ......... Gross, $520,218; net, $146,523 July 1 to Dec. 31. 51896 ......... Gross, 468,194; net 116 855 Surplus over 6 mos.' charges, $12,286 in 1897; deficit, $22, 156 in 1896. ANNUAL REPORT.-Reportfor 1895-96 in v. 63, p. 501 showed· Year. Gross Earn' , s. Net Revenue. Int. d: Taxes. Bdlance. 1896-97.... .. .. $888,881 $230,902 $268,100 def.$37,198 1895-96.. ..•••• 1,010,270 262,638 253,549 sur. 9,089 1894-95.. .. . . .• 953,238 208,977 240,371 def.31,394 -V. 63, p. 26,501; V. 65, p. 514.> Toledo St. Louts & Kansas City RK.-RoAD-Owns from Toledo lio East St. Louis, 4-;,l Ill½es (611g lbs. steel); sidings, etc., 72 roles, also has trackage to St. Louis and Toledo Union depots. RECEIVERSHIP, REORGANIZATION, &c.-On Ma.y19, 1893 receiverwas appointed; receiver is now R. B. F. Peirce. In December 1895 $166,374 cer:titlcates wei:e issued for new coal cars, but these' cerrifl.: cate'! have Hnce been paid off. First mortgage bond_holders' committee (address, Continental Trust Company, N. Y.), consists of John C. Havemeyer, H. O. .A.rm.our, R. B. Hartshorne, O. T. Bannarct and Morton S. Paton. In July 1897 about $8,300,000 bonds had been deposited with them. Certtil.cate~ of deposi~ of bonds were listed ou N. Y. Stock Exchange in Nov., 1893. Motion for decree of foreclosure and sale will be made on Jan 15 1898; this is kno:w?- al:! the preferred stock uit. V. 65, p . 1116; 66' p. 84. As to de01s1on rn common stockholders' euit i,ee V. 65, p. 573. ' Prefe1·rea stoclcholders' c•mimitt,e: J .. M. Quig'ley, of N. Y., Halsey J. Boardman, Boston, and Charles Hamlm, Bangor, Me.-(V. 62, p. 742.) BONDS.-The first mortgage bonds carry coupons of June 1 1893 Continental '.!'rust Co., New York, is now mortgage trustee. Abstract of mortgage m V. 45, p. 403. ·.rheru are purchase money judgments from previous foreclosure amounting to about $500,000, which have been decided by u s Cir~uit Court (V. 64. p. 888) to be a lieu ahead of first mortgage bonds. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v: LA.TEST EARNINGS.-Jan. 1 to Dec. 31, 12 months, gross, $2,269,16 4in 1897; $2,162,895 in 1896. ANNUAL REPORT.-Fiscal year ends June 30: Year. G1·oss. Net. Inte1·est. Taxes. Balance. 1896-97....••• $2,232,001 $470,223 $540,000 $90,000 def.$159,777 1895-96....... 2,005,75~ 442,137 540,000 90,000 def. 187,8631894-95 ....... 1,819.399 406,473 540,000 90,000 def. 223,527 1893-94....... 1,536,681 262,908 540,000 88,700 def. 365,792: New York office, 44 Wall St.-(V. 65, p. 572,825, 1116; V. 66, p. 84.J Toledo Saginaw- & Muskegon Ky.-From Muskegon, Mich., to. Ashley, Mich., 96 miles, connecting with the Toledo Ann Arbor & North Michigan. On August 1, 1888, the Grand Trunk of Canada purchased the $1,600,000 stock issued, and above bonds were issued having a. tratlio guarantee from that road and the Chicago & Grand Trunk. Year Dec. 31. Gross. Net. Interest. Deficit. A.dvanced.(1f) 1896 ....••. $83,745 def.$37,700 $82,450 $120 150 $34,46<> 1895.. .. .. . 84,357 def. 18,452 81,800 100,252 35,959' ~hesa sums were advanced under traffic guarantee. Toledo Walhonding Valley & Ohio KK .-Owns road in operation from Toledo Junction to Toledo, 0., 80 miles, and from Loudonville to Coshocton, 0., 45 miles; trackage (Pitts. Ft. W. & C.),. Toledo Jct. to Mansfield, 0., 7 miles; total, 132 miles. · LEA.SE, Erc.-Leased for net earns. to the Penn. Co., which guarantees the bonds. Pennsylvania RR. owns $1,920,000 of the stock. EARNrNGS.-For year ending Dec. 31, 1896, ~ross, $707,277; net, $132,670; other income, $23,601; interest and betterments, $134,804 ,. balance, surplus for year, $21,467. In 1895, ~ross, $715,729. Toronto Hanillton & Buff"alo RK.-~oad, Hamilton to Waterford, Ont., 43 miles, and Hamilton to Welland, 38 miles, in operation in Nov., 1897; connects at Hamilton with Grand Trunk of Canada and Canadian Pacific Ry. (See V. 62, p. 319.) First mortgage, is for $40,000 per mile. The American Loan & Trust Co. of Boston. S. E. Peabody aud C. F. Fox are trustees of new mortgage. For tra.ffioagreement with N. Y. Central, Michigan Central, Canada, Southern and! Canadian Pacific [which four companies will own and place in trust 70 per cent of the capital stock], see V. 61, p. 753; V. 63. n. 359 \ Traverse City KK.-Owns road from Walton to Traverse City. Mich., 26 miles; openeJ. in 1872. Leased ia 1883 to Grand Rapids & lndiana RR., but not included in the reorgauization of tllat company in 1896. Coupons 1st mort. due Jan 1, 18i:l7, were paid in January,. 1898, at office of Winslow Lanier & Co., N. Y. There are $190,000 of 5 p. c. incomes outstarnhng. Capital stock is $205,000; par $100. For year ending Dec. 31. 1896, gross, $44,551; net, $6,893; interest on bonds, $7,500; bal., def. for year, $607.-V. 65, p. 236; V. 66, p. 84. Troy & Greenbush RR.-Owns from Troy to Albany, 6 miles~ double track; leased to N. Y. Central in 185 l. Tuscaloosa Belt Ky .-Owns aoout 612 miles of Belt road in Tuscaloosa,Ala., and subnrbs. Opened in 1887. Capital stock authorized, $100,000; issued, $26,000 ($100 Rhares.) Equipment const ts of 3 steam locomotives, 4 passenger and 5 :fl.at cars. May 1 to Nov 30, 1897 (seven months), g ross earnings were $7,432. Operating expenses arA said to be about 60 per cent. General Manager, J. W. Woolfolk, Tuscaloosa, Ala., or 15 Wall Street, New York. Ulster & Delaware KK.-Owns trom Kin~ston Point (Hudson River), N. Y. to Stamford, 75 miles; proprietary roads leased, entire stock owned: Delaware & Otsego RR., Hobart to Bloomville, 9 miles; Stony Clove & Catskill Mt. RR. {narrow gauge), Phamicia to Hunter 15 m .; Hobart Branch RR., 4 m.; Kaaterskill RR., 7 m. Total, 110 m ANNUAL REPORT.-Statement for 1896-97 was in v. 6:'5, p. 568. Yr8.end. June30. Gross. Net. Other inc. Int., taxes, etc. Bal .. sur. 1896-97 ......• $400,757 $111,057 $16,700 $119,0 8 $8,669 1895-96 ....... 419,354 10'1,441 16,707 112,370 8,778 -(V. 59, p. 880; v. 61, p. 364; V. 63, p. 556; v. 66, p. 568.) ' Unadilla Valley Rallway.-Owns road from Bridgewater to New Berlin, N. Y.; 20 miles op1med in July, 1891'>. Connects D. L. & W. with New Berlin branch of N. Y. 0. & W. Stock owned by the con- "' struotion company; none sold. llnion Pactit·. Kallroad.-(See Map.)-This company's system will embrace -unleRs. as i1o1 possible, the Kansas Pacitto Government-aided lines (AxtendingfromKa nsasCitywesterly394mile ), are not acquired. in which case they must be deducted-the following : LINE OWNED DIRECTLY- Miles. LINES TO BE CONTROLLEDCouncil Bluffs, Ia. to 5 miles lfilea. weFt of Ogden, Utah, and Leavenworth Kan. & West. branches .....•...... . ....... 1,048 Ry. (former Kansas Cent.), K n.nsa City, Mo., to D enver, L eavenworth to Miltonvale 165 Col. . . . . . . . . . . . . . . . . . . . . . . . 643 Other lines-The system in 1894 L eavenworth to L aurence , embraced in all 7,691 miles of K a n . ..................... . ... 32 road, and eventually it is probable D euver, Col., to Cheyenne, considerable of the branch line Wy........ . . . . . . . . ... . . . 104 mileage will be again controlled. See be1ow. Total owned directly......• 1,827 HrsTORY.-Incorporated in Utah July 2, 1897, to succeed p er plan of Oct. 15, 1895 (V. 61, p. 704, 70fl, and V. 64, p. 424), the Union Pacif• i o Railway, who e property and franchi es were sold under foreclos- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE UNION PACIFIC RAILROAD Malheur Lake j ~ Warn er 's Lake ·---r-·-----· I oA.J..luras I i -, Ind·e~endence •, K;~ler ·,·, ~o~ --,,_ _~'3, p--__ ·, . ' INVESTORS 140 SUPP'LEYEN'l. LVOL, LXVI. Subscribers -will conf'er a great f'avor by giving Immediate notice of any error discovered In these Tables. Bonds-Prinot INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or Due AmoWlt Rate per Wnen Where payable, and by pal,When Par Outstanding of Stocks-Last For explanation of column headings, &c., see notes of Road. Bonds Value. Cent. Payable Whom. on first page of tables. Dividend. -- Union Pacific Railway- Reorg. cert. for old 1st M. main line bonds....... 1,035 8. F. 3d M. on road (1st on land) g., see text .. o&r 1,035 4 Om. Bridge renewal bonds (s. f., not dr'n), gold.o Kansas Pacific bonds140 g. m., East. Div. ••u. P .. E. D." 1st M., $16,000p. Mid. Div. "Union Pac., E. D." 1st mort., ~ld ... 254 2dmortgage (toU. S.Gov.) on394m.W. o. R. 394 .. 394 do do Do .. 394 do do Do 394 do do Do 32 Leavenworth Br., 1st M. ($585,000 in trust).:: Denver Pacific, 1st M. gold ($971,000 in trust) .. 106 Kan. Pao., Denver Extension, 1st M., tld· .. o*&r 242 Income mortgage~253,850 held in ust) ...•. c 661 ated,$3,991,100 held in tr. 661 Income M. subor K.P.Cons.M.$30,000,000,1. gr. ~ld, notdr'n.o* Text. U. Pao. collateral trust, gold, s. f. awn at 105.o" Collateral trust of 1883, gold, s. f. not dr'n ..••... Collat. trust,Den. L. & GUJ1. ($3,250,000),g ...... o* 325 Kan. Div. and Col. Tr. M., gold, red. at 110 .... o*&r 767 Collat. trust gold notes 6s, Mor~an notes ..... o&r .... Reorganiza ion certificates . . .... do Do Equ1b. bonds, Series B, 1 10 due yearly in April ... . Series C., 110 due yearly in April ... .... o -1T Pledged for U. P. Col. Tr. ~old note 6s of '91. --· i873 $i:ooo 1,000 1865 1866 1865 1866 1867 1868 1866 1869 1869 1866 1866 1879 1879 1883 1889 1891 1891 1897 1888 1890 1,000 1,000 1885 ...... ...... ------ i:ooo 1,000 1,000 50&o. i:ooo 1,000 1,000 1,000 1,000 x375 x375 1,000 1,000 z15,685,000 3,738,000 1,056,000 6 J. & J. July, ',97 coup. last pd. 8 g. M.& 8. Mar., '96, coup. last pd. Be~t. 1, 189 5 g. A.& 0. Oct., '94 pd. Nov. 2,'94. Oo. 1, 1915 2,240,000 4,063,000 640,000 1,440,000 2,800,000 1,423,000 15,000 4,000 5,887,000 30,4.00 } 11,724,000 3,558,000 4,677,000 2,030,000 ,r5,000,000 x338,000 x8,150000 211,000 ,r3oo,ooo 6 g. F. &A. Aug.,'95, pd. Nov.19,'96 Aug. 1, 1895 ~ g. J. & D. Dec.,'94, pd. Nov.19,'96 JUJ1e 1, 189 Nov. 1, 1895 ...... . ·-· Jan. 1, 189 6 ..... ······-··· 6 Jan. 1, 1897 ..... 6 1, 189 r,,C&..N. May, '93, coup. last pd. Jan. Jan. 1, 1896 7 May 1, 189 do do M.&N. 7 6 g. M.&N. May,'94,pd.July 17,'96 May 1, 1899 July 1, 191 . ......... M.& 8. 7 July 1, 191 M.& 8. 7 6 g. M.&N, Nov.,'93, pd. Deo.15,'93 May 1, 191 6 g. J. & J. Jan., '98, paid at mat. July 1, 1908 5 g. J. & D. Ju.ne,'97,pd.inJuly,'97t Dec. 1, 190 4:lgg. M.&N. May. '93, coup. last pd. Nov. 1, 191 May 1, 1921 5 g. M.&N. Bee text. 6 g. F. &A. Aug., '97, paid at mat. Feb. 1 190 do do F. & A. 6 210,500 y'rly. Oct., '97, paid. A. & 0. 5 $74,000 y'rly do do A. & O . 5 ...... ---------- { t On bonds defaulted. xPayment on account of the principal of each n ote ha s redu ced the total princip al due to $3,183, 000, and the face value ofeach$1,00 (), note to $375. Interest payments are made o nlyon theun paid bal anoe due on each not e. z $6,359,000 additional bonds in hands of comm ittee a nd $5, 181,000 paid by Mas ter,sinoe not dep osited. ure of the several mortgages in November and December, 1897. The new company took possession Jan. 15, 1898. The Union Pacific By. Co. before the receivership controlled bt,sides its own main lines over 5,800 miles of branch roads, which as separate corporations mostly passed into the hands of separate receivers, and have since been, or are now being, separately reorganized. The more important of these branch lines are described in this SUPPLEMENT, under the following headings: Oregon RR. & Navigation Co., Oregon Short Line RR., Kansas City & Omaha RR., St. Joseph & Grand Island Ry., Union Pacific Denver & Gulf RR., Fort Worth & Denver City Ry., Central Branch Union Pacific, Union Pacific Lincoln and Colorado. To what extent the branch lines will be brought back into the syi-tem it is impossible to say, but it is probable that arra.ng:ements for harmonious action, if not actual control, will be effected with several of them. As a step in this direction, the U. P. Reorganization Committee in 1897, agreed, per plan in V. 64, p. 567, to give to holders of the U. P. gold notes 6s (Morgan notes) an amoWlt of the new company's preferred stock equal to 15 per cent of their holdings in return for the first right to purchase all or any of the branch line securities pledged to secure the notes [see list of such securities in V. 64, p. 844; U. P. D. & Gulf stock and bonds, however, have since been sold]. In pur suance of this agreement the Reorganization Committee has latterly acquired from the Morgan Trust 84,608 shares of stock of the Oregon ShortLineRR.-seeV. 66,p. 135. Tho Union Pacific Railway Co. was formed by consolidation Jan. 24, 1880, of Union Pacific RR. (chartered .July 1, 1862), Kansas Pacific RR. and Denver Pacific Ry DIRECTORS.-(.January, 1898-V. 66, p. 39.)-President, Horace G. Bu.rt; Chairman, Winslow S. Pierce; James Stillman, Marvin Hughitt-,. Roswell Miller, E. H. Harriman, Louis Fitzgerald, Henry B. Hyde,. John W. Doane, Otto H. Kahn, T. Jefferson Coolidge, Jr., George J~ Gould, Oliver Ames, George Q. Cannon and Jacob H. Schiff.- (V. 65, p 1127, 1174, 1222; v. 66, p. 39, 84, 135, 185). Union Pacific Kall-way .-See statement just preceding. RECEIVERSHIP.-Presldent S. H. a;. Clark, Ollver W. Mink and E •. Ellery Anderson were appointed reoeivers October 13, 1893, (V. 57,. p. 639). In Nov., 1893, Frederic R. Coudert and J. W. Doane appointed a1ditional receivers. New Yor'k office, 27William Street. FORECLOSURE.-Foreclosure sale under the Union Pacific main linemortizage took place Nov. 2, 1897, pU1·suant to an agreement between the Fitzgerald Committee and the Attorney-General of the United States, by which agreement a. syndicate guaranteed to the Government a minimum bid on account of said main line of $58,448,224; sinking fund assets, however, in cash and securities reduced the actual sum provided to ahout $40,253,605 (V. 66, p. 135). The foreclosure sale of the Kansas Pacific division has been pL>stponed till Fet>.12to 15,. about $15,000,000 in new bonds (of the $85,000,000 proposed to be issued) and $20,000,000 in preferred stock being reserved for the reor11:auization of tbe Kansas lines, unless perhaps they are purchased by other parties. See CHRONICLE of Oct. 30, 18!.J7. REORGANIZATION PLAN.-The plan, V. 61, p. '2'0 l (and moclittcations. as to sinking fund 8s and Kan. Pac. consols in V. 64, p. 424), was issued in October, 1895, by the following committee: Louis Fitzgerald, Marvin Hughitt, Chauncey M. Depew, Jacob H. Schiff, Oliver Ames, 2d, and T. LAND GRANT.-Lands unsold on the several divisions amounted Jan. 1, Jefferson Coolidge, Jr. It provides for the issuance of securities de1897, to 6,688,000 acres, valued at $10,535,750, and pledged to secure scribed under the title of the new company, the Union Pacific Railroad,. mortgages as shown above. Of these, 1,000,000 a.ores were arid, 804,· on the preceding page. The committee holds over 95 per cent of K. P. 000 agr1oultu.ral and 4,884,000 grazin~ la.nus. In the year 1896 gross consols, U. P. s. f. 8s and stock. (Bee editorial, V. 64, p. 1024.) sales were 71,056 acres for $151,799; cancellations of sales of pre vious years were 60,554 acres for $111,826. Total land contracts Old Securities in amounts o/$1,000 bond r----Will receive---.. OomPref. 1st mort. $100 stockoutstanding January 1, 1897, $5,916,245, of which $3,676,475 were StockStock. 4s. Unlon Pacific debtconsidered uncolleotible. $500 $1,000 ............................ 6s mortgage lat NEW SECURITIES.-The new securities to be issued in case the Kansas 1,000 750 Sinking fund 8s............................ Pacific division is acquired will be as below, but if not acquired, the • * Omaha Brid~e 8s.......................... preferred stock and first mortgage bond issue will be reduced as per 250 Omaha Bridge renewal 5s................ 1,000 plan: 500 Kansas Pacific Divisional 1st 6s ... . ........ 1,000 Oommon stock . ................................................ $61,000,000 1,100 500 flonsol. 6s................ .. . . . . . . . . . . . . . . . .• 60,868,500 500 Of which to go to old stock on payment of assessment... Kansas Division and collateral 5s........ 75,000,000 . . . . • . . . . . •• • • . . non•cumula.tive.. cent 500 per 4 800 Preferred stock, Fragmenis of old loans................ ... $100• 15 Of which for settlement with old securities and v. P. coll. Union Pao. stock pays ass't $15 per share. 49,500,000 about . trust notes ............•.......•..•.....•............... "' Will receive cash on completion of reorganization. For various obligations, reori.:anizatlon expenses and. Adju11tment of Interest-Interest due Jan. 1, 1898, on Union Pacificbalance settlement of debt to United States, as far as required. 1st 6s deposited will be ~a.id in February, 1898, when the new securiFirst mortgage railway and land grant 50•year 4 per oen~ ties are issued. The d1fference in rate (2% yearly) between old 1st; gold bonds, to be dated July 1, 1897, interest J &J, mort. bond to its maturity and new bond exchanged therefore is to be, limited to $100,000,000; amount to be issued to cover adjusted by a cash payment at the time the new bonds are issued. main line and Kansas Pacific division (if acquired) Ooll. Trust 6s of 1891, Readjustment.-J. P. Morgan & Co. plan expected not to exceed................................. 85,000,000 April, 1897, provides for exchange of old 6 per cent certificates, of ,16,,00,000 about ...... •.... . .......... securities old with For settlement dollar for dollar, for 6 per cent certificates of a new trust. The old. For various obligations, reorg. exp. and debt to United will be used for the purpose of foreclosing the present trust and notes balance . . . . . . . . . . . . . . . • . . .• . .. . . • . . •. .. . 1·equired as States, as far of purchasing the collateral held thereunder, so far as deemed,advisAny remaining new securities will be an asset of the new company. able. Old certificate holders also receive 15 per cent in preferred FIXED CHARGES, &c.-The following table gives an idea of the position stock of new Union Pacific Co. when issued. If by Feb. 1, 1902, there, shall not have been realized a sum in cash (in addition to said pre• of the new company on the basis of operations UJ1der the receivers: ferred stock) equal to the par of the new certificates with interest acTotal net income in 1896 (see report below) .....•... .. ... . ... $4,740,471 crued to that date, then all the securities shall be sold and the pro-Full annual interest charge on $85,000,000 new 4 per cents. 3,400,000 ceeds, to the necessary extent, shall be applied toward such payment. The plan has been underwritten and holders of old certificates so deBalance over charges ...............•....................... $1,340,471 siring may sell their notes to the syndicate at par. The new Union Pacific will have the privilege of buying the collateral, in consideraThe increase in earnings during the current year and the improve· tion for the preferred stock allotment, but will not be responsible in. ment likely to arise from a cess1:1,tion of the receivership should also, of any way for the new trust certificates. The interest on the new trust course be taken into accoUJ1t. certificates will be payable only from the income derived from the interest on collateral securities~ or the proceeds of sale thereof. ReorLATEST EARNINGS.-FOI' 11 months endinir Nov. 30 on the 1,822 mile s ganization certificates for $!:!,150,000 had been listed on N. Y. Stock of Union Pacific and Kansa s Pacific, before-deducting taxes: Exchange to October, 1897. See text of new agreement in V. 64, p. ,---Gross Earnings.---. r--Net Earnings.--- 567 anu list of collateral V. 64, p. 844; see also V. 65, p. 782. From, 1896. 1897. 1896. 1897. .Tan.1 to Nov. 30. sale of part of the collateral securities 5 p. c was p a id in August Union Pacific Ry.... $15,003,830 $13,206,698 :jl5,586,101 $4,955,801 1897, on the principal of the notes and reorgani~ation certificates outIncluding the Central Bran ch and other lines operated by U. P. r e· standing; on Sept. 28 a further 30 p . c. was paid, and on Oct. 22 2712, per cent more, making in all 6212 p ercent paid, reducing the amount. ceivers' results were: Jan. 1 to Nov. 30 .. $17,692,296 ~15,087,533 $6,513,656 $5,35 8,034 due to $3,183,000 and the face value of each note to $375. Interest.. payments are made only on the unpaid balance due on each note. V . .A.NNU.A.L REPORT.-Report of old company for 1896 was given in 65 p. 516. Foreclosure sale of collateralis set for Feb. 2. V. 66, p.135_ CHRONICLE, V. 64, p. 840, showing results as follows: Denver Leadville & G1mnison.-See separate statement for thli- Co. Denvei· .liJxt&nsion Oomrnittee consists of H. L. Thornell, G . .J. Wetzlar,. 1894. 1895. 1896. Year ending Dec. 31and R. 0. l\fartin. V. 60, p. 523. 1822. 1822. 1822. Average miles operated....... Ooll. Trust 5s of 1883-F. S. Bangs, Howland Davis an!l W. E. Glyn;. $2,436,613 $2,465,713 asserigers ..................... $2,458,640 10,253,680 depositary, State Trust Co., N. Y. June, '97, coupons paid July, lrl.97 .. 9,850,204 Freight...... . . . . .. . . . . . . . . . . . . 10,002,420 deposited bonds. S ee V. 64, p. 844, for list of collateral securmg on 2,127,513 2,020,374 Mail, express, etc.............. 1,921,230 t11ese bonds. (V. 64, p. 665,902; V. %, p. 70.) Trust 6s of 187~-Howland Davis, 5 Nassau Street, New York; Ooll. Total gross earnings ...... $14,382,290 $14,336,291 $14,817,806 10,502,728 Samuel Carr, Ames Building, Boston, Mass., and William E. Glyn; 9,434,133 Operating expenses and taxes 9,641,819 depositary, Union Trust Co., N. Y. See V. 64, p. 844, for list of col$4.,315,078 lateral securing these bonds. Janua ry, 1898, coupon paid when due $4,902,158 Net earnings ................... $4,740,471 at Union Trust Co., New York.-(V. 64., p. 713, 902.) (70·88) (65·81) (67·01) Per cent oper. ex. to gross... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---·- JANU ~RY, 1898.J 141 RAILROAD STOCKS AND BONDS, Snb•crlbers will conf'er a great favor by giving llllllledlate notice of any error dlscevered In these Table•• Bonds PrinoINTERES'l' OR DIVIDENDS. RAILROADS. Miles Date Bize,or Due. Amount Rate per When Where Payable, and by pal,When Par of Stocks-Last For explanation of column headings, &c., see notes of Whom. Road. Bonds Value. Outstanding Cent. Payable Dividend. on first page of tables. --- fJntonPamttcDenverd Gulf-Stock for $36,000,000 Colorado Cent. 1st M., La Balle to Julesburg, &c.c Denv. Tex. & Ft. Worth 1st M. ($20,000 p.m.)g.c* Denver Texas & Gulf lstM. ($20,000 p. m.)fi.. c&r U.P. Den.&Gulfcon. M.,~old,sub. tocallat 05.c* Central Tr. certlf. of dep ......... do Do Ft. Worth & Denver City-See that compa,ny. Unton Paci.J// Lincoln ti Oolorado-Stock..•....•••. let M. ($ 0,000 per mile), gold, guaranteed .... c* United N. J. RR. ti Oanal Oo.-Stock, 10 p. c. guar.. ot1901, gold .••••••••••••.••• o Gen. M. '71 (now loan of 1908, gold ...............•.. r lstmor:J loan of 1923, gold....... ............ r loan of 1929, gold ...........•.... c&r seo'res equally loan of 1944, \old ............ .... c&r Utica Uhen. If Susq. Val.--Btoc ,6 p.c.gu. by D.L.&W Utica Glint.on If Binghamton-Stock ..•••••••••..... let mortgage, guar. by D. & H ............•...... c Valley (N. Y.J-Stock, 5 p. c. guar. by D. L. & W ... let mortgage (for $500,000) ....................... Valley (Virginia)-lst M., $1,000,000, see text.... c Velasco Terminal Ry.-lst mortgage, $800,000 ..... Vermont ti Mass.-Stock, 6 p. c. guar. by Fitchbur~ Bonds, not mortga~e (guar. by Fitchburg RR.). c J'ermont Val~ of 18 1-Stock . ... .................. let M., with 500,000 Sul. Co. RR. stock as col. .c* of}'"""" -- 27i 165 138 876 ...... r;, 225 $ $100 x23,380,182 1,000 4,788,000 i879 1,000 721,000 1887 1887 1,000&c 1,032,000 1,000 } 15,801,000 1890 ........ 1897 isss '73_;76 1878 1883 00 0 1889, ~~ 1894 97 ~: a= ·gi 12 12 62 ·59 24 24 i889 issi 1881 1893 isss isso i:ooo 100 1,000 1,000 1,000 1,000 1,000 100 100 1,000 100 i:ooo 100 1.000 50 1,000 J ...&.. J. 7 5 g. M.&N. 5 g. A. & 0. J. & D. I...~.~- 2,309,800 ...5.g. 4,380,000 21,240,400 10 5,669,000 6 g. 6 g. 841,000 1,824,000 4 g. 6,020,000 4 g. 4 g. 5,646,000 4,000,000 6 849,285 See text. 800,000 5 750,000 5 400,000 5 750,000 6 400,000 5 3,193,000 6 1,000,000 5 1,000,000 6 800,000 5 ....... Jan., '97, not pd. Jan. 1 May, '93, coup. last pd. Oct., '93, coup. last pd. June, '93, coup. last pd. Juiy·1;·i909 Nov. 1, 1937 Apr. 1, 1937 Dec. 1, 1939 ····-····· ········ A ...&..O. Oct., '93, coup. iast pd. Apr:·1,""i919 Q.-J. Phila. and N.Y., Offices. Jan., '98, 2¼ M.& 8. do do Moh. 1, 1901 M.& 8. Philadelphia. Office. Seit. 1, 1908 F. & A. do do Fe • 1, 1923 M.& 8. do do Sept. 1, 1929 M. & 8. N. Y.,N. Bk.Com. & Phil. Moh. 1, 1944 M. & N. N. Y., Del. L. & W. RR. Nov., 1897,3% F&AlO Utica, N. Y., On. N. Bk. Aug. 10, 1897 J. & J. N. Y., Security &Tr. Co. July 1, 1939 J. & J. N. Y.,Del.Lack.&West. Jan.,'98,212% F & A. do do Aug. 1, 1911 A. & 0. N. Y .. Mere. Tr. &Balt. Oct. 1, 1921 In default. M. & S. Aug. 1, 1943 A. & 0. Bost., 53 Devonshire St. Oct., 1897, 39(, M.&N. Boston, Fitchburg RR. May 1. 1908 Bellows Falls. J. & J. Jan. l,'98, S~ A. & 0. Boston, B. Dep. & Tr.Co. Oct. 1, 1910 x Aside from $3,406,800 held by company itself in 18 93. N. Y. Stoc kExchange savs$31, 151,700 outstanding. On Kansas Paci.fie there was due the Government on Jan. 1, 1898, for principal, $6,303,000; interestt $6,582,084. On Oct. .l, 1897, the sinking fund tor U. P. debt invesrea ~ RR. and U. 8. bonds (par value) was $13,645,250, and the cash unmvested was $4,537,216; total, . . $18,182,466. BoNDs.-Of the sinking fund 8.s due Sept. 1, 1893, $3,730,000 were extended at the same rate for l'!IX years. Bee V. 57, p. 257. These bonds can now be drawn at par. They covered, Jan. 1, 1897, 3,532,· 000 acres of land, of which 5:i,000 acres a~cultural, 2,479,000 acr6'8 grazing and 1,000,000 aore_s arid; also coUectible land contracts for $1,109,555. A.s to default m Sepp .• lt:!96, see V. 63, p. 407. Of ~he $1,056,000 Om'lha Bridge renewal ~s given aoove as out standing, $145,000 are held under the trust mdenture of 1891 and $322,000 in treasury of the receiver on Jan. 1, 1897. COUPON P~ntF:NT~.-The las~ co~pon paid !)n each loan and its date of payment, if paid srnce maturity, 1s shown m the bond table at head 685 , 730, 736 • 758 • 782 ·> or page.-(V. 65, p. 516, 572 , 622 , Union Paclftc Denver & Gulf Ky.-'l'his company's road exr.ends from Cheyenne, Wy., to Orin Junction, 154 miles; Denver to Bessemer Junction, Cot, 128 miles; Trinidad, Col., to Texas State Line, Tex., 135 miles; La Balle, Col., to Julesburg, 151 miles; branches (89 miles of .which narrow gauge)t 332 miles; total, 900 miles. Of this track 105 miles are 35·56•pounu iron rails, 67 milee of 69-75-pound steel rails; balance, 40 to 60-pound steel. Trackage, Denver & Rio Grande, Pueblo to Walsenburg, 58 miles, and branches, 16 miles. Con• trolledFortWorth&DenverCltyRR., Texline, Tex:as,to FortWorth,455 m., and Pan·Handle t<R., 15 m., making a grand total of 1,478 miles. ORGANIZATION.-This was a consolidation in April. 1890, of the Colorado Central, Denver Texas & Fort Worth and several Union Pacific lines. It was controlled and operated by Union Pacific. V. 49, p. 720. The company holds in its treasury a large majority of the common stock of the Fort Worth & Denver City Railway Oo., which see. RECEIVERBHIP.-Mr. Frank Trll.Hlbull was appointed sepa~atereceiver in Dec., 1893; see V. 59, p. 783 The last of the $300,000 receiver's certificates issued to build line from Walsenburg to Trinidad, 40 miles, were paid off early in 1897.-(V. 64, l'• 564.) In Sept., 1897, the trustees of U. P. coll. trust note 6s sold the $13,251,882 stock and the $5,813,000 consols of the U. P. D. & G. to a syndicate acting in the interest ot reorganization committee. V. 65, p. 516. Oonsol. of 1890 Bon<tholde1·s· Oo,nmittee.-Grenville M. Dodge, Chairman; George M. Pullman, J. Kennedy Tod, Oliver Ames, Harry Wal• ters, Henry Budge, Henry Levis and Uriah Herrmann: Secretary, J. J .Granger. This committee represents a majority of the consols and stock, and calls for deposit of all the company's securitie'I with the Central Trust Co., New York, or American Loan & Trust Co., Boston. A plan of reorgantzation will be prepared.-V. 57, p. 809; V. 65, p. 573, 870, 1170. Denver Texas ti Gulf and Denver Texas ct Ft. Worth Oommittee.Henry B. Ely, R. H. Thomas, W. B. Dickerman and M. L. Scndder; depositary, N. Y. Security & Trust Co., N. Y.: more than a maJority of D. T. & G. bonds have been deposited, and a large proportion of D. T. & Ft. W.-(V. 61, p. 710; V. 65, p. 57~.) DEFAULT.-The last coupon paid on eaohloanis shown in table above. BoNDs.-Consols are indorsed with the U. P. guaranty of in· terest. Bee V. 56, p. 696. Abstract of mortgage V. 51, p. 244. The total issue of Denver Texas & Ft. Worth bonds is $4,575,000, and of Denver Texas & Gulf bonds $3,000,000; the balance of the issues, $3,854..t.OOO and $1,968,000 respectively, being held for the U. P. Denver & 1.:tulf console. The Union Pa-ci.flc report for 1893 gave consols. tor $15,801,000 out11tanding, of which the U. P. held $7,338,000 (since sold to Reorg. Com.) and the company itself $826,000. Coupons in de• fault Dec. 31, 1894, aggregated $1,297,650. In Nov., 1896, all pastdue Colorado Central 1st mortgage coupons had been paid; Jan., 1897, coupons were not paid when due. E.ARNINGS.-11 months, ~ 1897..•.. Gross, $3,215,401; net, $912,143 51896..... Gross, 2,829,124; net, 665,697 Jan. 1 to Nov. 30. ANNUAL REPORT.-Report for 1896 was in V. 64, p. 565. Dunng 1896 floods destroyed 18 miles of the road and 84 bridges, causing a loss estimated at over $100,0UO. 1894. 1895. 1896. Year ending Dec. 31. $2,847,055 $3,091,486 Gross earnings ....•••.....•..•. $3,101,716 $445,988 $619,297 Net earnings.................... $608,208 22,583 24,876 21,393 Add income from invest's, &c. From income for 1896 ($6~~,601) the receiver paid interest on Col. Central bonds, $335,160; on receiver's certificates, $16,703; renlals, $14,447, leaving balance, surplus, $263,291.-(V. 65, p. 870, 1127.) Union Paclftc Lincoln & Colorado Ry.-Owns Salina to 1unction with the Kansas Pac. Ry. at Oakley, Kan., 225 miles. The bonds guaranteed l,y Union Pac. are in default; trustee of mortga1?e is the American Loan & Trust Co. of Boston. Union Pacific owns all the stock except what is held by certain counties in Kansas. Protective Oommitlee-Chal'les E. Cotting (Chairman), Charles s. Tuckerman, Jame'I Jackson and William E. GlYn; depositaries, Guaranty Trust Co., N. Y., or Old Colony Trust Co., Boston. In Sept., 1897, $3,572,000 :firsts out of $1,380,000 had been deposited with this committee, it was stated.-V. 64, p. 713; V. 65. p. 413. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis •1 For year ending June 30, 1896, gross, $161,690, against $189,348 in 1895; net, $27,329, a~ainst $58,3_12 in 1894-5. Current liabilitie& June 30, 1896, $686,71t>.-V. 65, p. 013. United New Jersey Railroad & Oanal Oo.-(See map Penns11lvania R. R.) Controls an important system of roads in Northern N. J., having a four•tracked line from N. Y. to Philadelphia, also a line Perth Amboy to Camden opposite Philadelphia, and branches to Long Branch, Berkeley, etc., N. J., and to Manunka Chunk, Pa. Total mileage 450 miles. The principal lines owned directly are Jersey City to Trenton, 56 miles (four tracks), and from Camden to South Amboy 61 miles, of which 26 double track; 9 branches, 29 miles; total (owned directly) 146 miles. Also owns the Delaware & Raritan Canal, 66 miles. Philadelphia & Trenton and the Belvidere Delaware-which see-are principal leased lines. LEASE.-Leased in June, 1871, to the Pennsylvania Railroad for 999 years at a rental of 10 ver cent on the stock besides interest on bonds Bo;ns.-The general mortgage of 1871 is for $20,000,000 (trustee: Fidelity Insurance Trust & Safe Dep. Co. of Pbiladelphia) and secures equally all the bonds in the table, though issut-.1 at clliferent dates. Sinkin_g funds Dec. 31, 1893, held securities for $2,576,540. In Jan., 1894, $5,646,000 e;old 4s were issued to take up the sterling and currency bonds falling due in March and October, 1894. Special bondr. and mortgages outstanding Dec. 31, 1895, $608,143. EARNINGS.-For year endin~ Dec. 31, 1896, gross, $18,272,558; net, $4,723,144; other income, $320,435; interest, rentals, etc., $!,604,155; balance, surplus for year, $!39,424. In 1895, gross, $18,648,271; net, $1,740,604. In 1894 gross, $17,733,943; net, $4,796,786, against $3,986,608 in 1893; other income, $526,011. Net loss to lessee in 1885, $159,496; in 1886, $179,016; in 1887, $227,991; tn 1888, $160,501; in 1891, $276,455; in 1892, $299,198; in 1893, $194,529. Net profit in 1889, $138,712; in 1890, $396,885; in 1894, $67~,461; in 1895, $727,694; in 1896, $439,424. (V. 58, p. 179, 636, 816.) 0 Utah Central Ky.-Salt Lake City to Park City, Utah (narrow gauge) 37 miles. Sold in foreclosure at Salt L11.ke City May 8 for $277,000 to New York bondholders. The Rio Grande Western has agreed to ~uarantee $550,000 of new 4 per cent bonds in considera• tion or receiving the entire capital stock; see V. 65, p. 333. Possession was given in January, 1898. Receiver is George D Loomis, Salt Lake City.-V. 64, p. 955. Uttca Cht,nango & Susquehanna Valley Ky.-Owns Utioa, N. Y., to Greene, N. --Y., 75 miles; branch to Richfield Springs, 22 miles; total, 97 miles. Road opened October, 1872. Leased to Delaware L1ockawanna & Western at 6 per cent on stock. Has no bonded debt. Utica Ollnton & Binghamton KK.-Owns Utica, N. Y., to Randallville, N. Y., 31 miles. Leased during continuance of charter and renewals thereof to Delaware & Hudson Canal Company, which pays rental of $61,500 per annum. Operated by the New York Ontario & Western. The street lines owned by the company are leased to Utica Belt Line Street Railroad Company for $15,000 per annum. Capital stock, $849,285 (par $100), of which city of Utica holds $200,000, with interest guaranteed by D. & H. Canal Co. at 5 per cent per annum ; the balance pays 4 per cent. Valley (N. Y.) Rallroad.-Owns from Binghamton, N. Y .• to State Line of Penn., 12 miles. Opened October, 1871. Leased to Delaware Lackawanna & Western at 5 per cent per annum on stock ' the lessee assuming the interest on bonds. Valley (Ohlo).-See CLEVELAND TER~ITNAL & VALLEY RR. Valley KR. (Vlrglnla)-OwnsHarrisonburg to Le.:nngton,Va., 62 miles. By this and connecting lines under Baltimore & Oli1o control the distance from Lexin~n is 243 miles to Baltimore and 217 miles to Washington. Stock 1s authorized to the amount of $3,200,000 • outstanding, $2,712,200 (par, $100), of which B. & 0. owned June 30' 1897, $1,020,600 and $223,000 of the bonds. Of the bonds $413,000 are guaranteed by the B. & 0. In year ending June 30, 1897, gross $93,048; net, $971; interest, $45,000; taxes, $2,647; balance, def.' ' $46,676. In 1895-96, gross, $112,167; net, $18,842. Velasco Terminal Ky.-Road from Chenango Junction to Velasco, Tex., 20 miles. Chartered in 1891. Stock (authorized $600,000) issued $343,100; par, $100. First mort. bonds outstanding, $400,000. For year endin.,. June 30, 1897, gross, $28,200; deficit under operating expenses an'a. taxes, $4,671. In 1895-96, gross, $24,143: deficit under operating $9,335. Vermont & l'f.Iassachusetts KK.-Road, Fitchburg to Green 11.eld, Mass., 56 miles of double track; branch, 3 miles. The road is leased to the Fitcht>urg RR. for 999 years at 6 per cent on stock. Vermont Valley KR. of 18'71.-0wns Bellows Falls to Brattle• boro, Vt., 24 miles. Controls by ownership of stock the Sullivan Couuty RR. trom Bellows Falls to Windsor, Vt., 26 miles. Both roads are controlled ln interest of Conn. River RR., and operated by Boston & Maine Dividends-Bemi•annual dividends of 3 p. c. each are paid. Earnings of Vermont -yalley for year ending June 30, 1897, gross, $199,422; net, ~66,494; div. on Sullivan Co. RR_., etc., $41,743; total net, $108,237; mterest, taxes, etc., $17,566; dividends ya.id, $60 000· balance surplus for year, $671. In 1895-96, gross, ~213,804;' net: $66,053. (V. 63, p. 87'7; V. 65, p. 867. INVES'fORS' SUPPLEMENT. I '>/OL, LXVI. Subacrlbers will conf'er a great favor by giving Immediate notice of any error discovered In the■ e Table ■ • Bonu-Prinol• INTEREST OR DIVIDENDS. Miles Date Bize,or Amount Rate per When Wh&e Payable, and by pal,Wht>n Due. of Par l!'or explanation of column headings, &o., see notes of 8tock8-L8o8t Road. Bonds Value. Outstanding Cent. Payable on :fl.rat page of tables. Whom. Dividend. RAILROADS. --- - - - Vicks. Bhrevep. cl Paciffo-Prior lien mort., gold .. o* lat mortgage, gold, see text ..................... c* 1 ¥:ci:::-:~::d~~~ .~~. ~~. ~-. :-.~~ Income bonds, non-cum. ........................... Va. Jfidland-lstser., lstM. Alex.to Gordonsv.&br M., 2d series, 1st mort., Charlot. to Lynch., 60 m.) 3d series, 2d lien on 60 miles; 3d on 97 miles ... 4th series, 4 per cent till March 1, 1901. ........ 5th series, 1st on 115 miles ...................... 6th series ........................................ Gen. mort., $12,500,000 ......................... c* Oharlotev.& Rapid. (l'sed) lstM., s. f.,dr'n at 100.c* Viroinia cl Truckee-Stock ........... ................ Wabash .R.R.-St. Charles Bridge 1st mort., gold .. o" 2d mort~f!ge ....... ............................. Wabash 1st mortgage, gold, ,'$34,000,000) ..... c* 2d mortgage, gold............................... o Deb. mort.,inc., non•cum..,series A, red. at par. Do. do. inc., non-cum., series B, red. at par .. Det. & Chio. Exten. 1st M., gold, red. at 110.o* LEASED LINE BONDS!t. Louis Council Bluffs & Omaha 1st mortgage .. Boone Co. & Booneville 1st mortgage, int. guar .. Brunswick & Chillicothe 1st mortgage, int. ~uar. Wabash Ohester cl Western-1st mort aije, gol .. c* 1st consolidated mortgage, $1,000, 0 , gold ... c* ~~~ ~.~~~~~~ ~~~.~•. 3 188 188 188 -·-· ·97 157 157 157 272 75 347 28 52 1885 1881 1886 1881 1887 1881 1881 1881 1881 1881 1881 1886 1879 100··&0. 100 &o. 100 &o. 100 &o. 100 &o. 1,000 1,000 100 &o. 100 1,000 500 &c. 1,000 1,000 1,000 1,000 1,000 $1,323,000 4,000,000 1,822,375 127,000 494,860 600,000 1,900,000 1,100,000 950,000 1,775,000 1.310.000 4,859,000 367,000 5,000,000 1,000,000 388,500 31,664,000 14,000,000 3,500,000 26,500,000 3,500,000 1878 1,000 1,000 1873 1878 100 &o. 1,000 1888 1893 1,000 577,000 100,000 304,500 300,000 390,000 i8'78 ··-- 1878 1,545 1,012 1,545 1,545 150 42 22 38 42 65 1889 1889 1889 1889 1891 $1,000 1,000 1,000 ----·· 6 g. 6 g. 5 g. 6 4 6 6 6 4-5 5 5 5 6 (I) 6 7 5 5 6 6 5 g. g. g. g. M.&N. N. Y., Central Trust Co. Nov. 1, 1915 J. & J. N. Y., Farm. L. & Tr. Co. Jan. 1, 1920 J. & J. July, '88, coup. last p'd. Jan. 1, 1916 ..... 1921 . --.. Jan. 1, 1920 M:·& 8. Balt.,Md .• 8.D.&Tr.Co. Moh. 1, 1906 M.& 8. do Moh. 1, 1911 do M.& 8. do Moh. 1, 1916 do M.& 8. do Moh. 1, 1921 do M.& 8. do Moh. 1, 1926 do M.& 8. do Moh. 1, 1931 do M.&N. N. Y., J.P.Morgan&Co. May 1, 1936 J. & J. Phila. Tr. & BareDepos. July 1, 1913 ,t) A_-·&··o. N. Y., Office 195 B'way. Oot. 1, 1908 A. & 0. do do Oot. 1, 1903 M.&N. N. Y. CenJ'il'al Trust Co. May 1, 1939 F. & A. do do Feb. 1, 1939 J. & J. In July,'96, decl. 1 p. c. July 1, 1939 J. & J. July 1, 1939 J. & J. N. Y., Central Trust Co. July 1, 1941 -·-·. 6 J. & J. N. Y., Office, 195 B'way M.&N. do do 7 F. & A. Boston,Bank Redemp'n 6 5 g. J. & J. N. Y., Nat. Bk. Com. 5 g. J. & J. July '94, pd. July 1, '96 July May Aug. July Jan. 1, 1, 1, 1, 1, 1908 1903 1903 1918 1928 I Vicksburg Shreveport & Pacific KK.-Delta, La., on Miss Oompton Suit.-The decision of the highest court against the Wabash iaeippi River, to Shreveport, 171 miles. Extension to Texas State Line, affects 72 miles from Toledo to Indiana State line. The amount of 18 miles, leased to Texas & Pao. Main line is all 60·lb. steel. judgment is $339,000, with interest since 1880, making about $540,· 000. If more than the 1st and 2d mortgages and other claims is bid ORG~ZATION AND BTOCK.-The stock ls $1,650,000 authorized, for the property It is said to be the intention of the comp8nyto let the outstandmg $1,601,500 (par $100), of which the.Alabama Ne~ _Or- road go, as a new line c an be built advantageously. (V. 65 p. 926· V. leans & Texas Paotilc Junction Railroad Company holds a m8i)or1ty, 66 p 39) ' ' together With $3,692,000of the 1st and $965,500 3d mortgage bonds. GE~ER~L FINANCES.-June 30, 1897, there were bills payable . .BONDS, ETc.-Third mortgage earned 4 per ct. till 1894, thereafter 5. $844,346, and $133,474 rolling stock notes payable monthly, last one Interest began Januaqr, 1888, but only the first coupon has been paid. maturing Feb., 1899, chargeable to operating expenses, but by Jan. 1, These bonds are received in payment for lands, Lat 25 per cent of 1898, $400,000 of floating debt had been paid oft, and it was expected par for year 1896-97] and prior to July 1, 1897, the bonds outstanding that the balance would be paid by July 1, '98. (V. 66,p. 39.) North Mis· had been reduced from $2,434,625 to $1,822,375 thereby, and $65,375 souri 7s (total issue $6,000,000) and St. L. K. C. & No. 7s (total issue "thirds" had not been issued. Lands unsold June 30, 1897, were 206,- $:i,000,000J, due respectively July 1 and t:leptember 1, 1895, were 526 acres. Tlm.stees of prior lien mortgage and of 3d mortgage, Cent. paid by sale of first mortgage bonds. The exchange saves the com• Trust Co.; of 1st mort., Farmers' LoaR & Trust Co. Coupons due and pany $180,000 per annum. Firsts listed on N. Y. Stock Exchange to unpaid June 30, 1897, lstmort., $1,911,697; 3d mort., $625,356. January, 1898, were$31,664,000. Traffec.-In 1896·7 carried 5,954,760 tons, or which grain furnished 22·22 p. c., bituminous coal 25·74 p. o., LATEST EARNINGS.-Jan. 1 to Dec. 31, 12 months, gross, $560,613 lumber 4 p. c., and live stock 6 p. 0 . in 1897; $386,230 in 1896. In calendar year 1896, gross, $576,723. Decision was rendered in June, 1897, revoking charter of Eel River ANNUAL REPORT.-Fiscal year ends June 30. Report for 1896•97 was RR.; an appeal may be taken-see V. 64, p. 1089. n v. 65, p. 618, and showed earnings, eto., as follows. Taxes a.re LATEST EARNINGS.-July 1 to Dec. 31, 6 months, December estimated Included in operating expenses; other income includes land sales. Gross. Net. Other inc. Interest. Balance. 1896·7 .... $572,929 $147,049 $1,656 $410,499 def. $261,794 18~5·6. ... 558,811 151,683 1,206 410,499 def. 257,610 1894·5.. .. 580,114 151,514 3,212 410,524 def. 255,798 -(V.59,p. 779; V. 61, p. 515; V. 63, p. 555,651; V. 65, p. 618.) Virginia Midland Ky.-In December, 1897, merged with Southern Ry., 10 shares of Virginia Midland stock receiving 7 shares of Southern Ry. preferred. (V. 65, p. 413, 1222.) · Wabash Kallroad.-Operates as follows. viz.: owns East of .Miss. .River. Miles. Toledo, O., to East Hannibal, Camp pt, and Elvaston, Ill. Decatur, Ill:.? to E. St. Louis.. Juno. near lihicago to Efflng• ham and Alta.ruont, Ill...... Streator to Fairbury.......... Edwardsville Branch......... Delrey,near Detroit, to Butler Montpelier, 0., on line to De• troit, to Clarke Junotio:n, nea.r Chicago... . . . . . . . . . . .. • Leases East of Miss . .River. Eel River RR. (which see), 536 Butler to Logansport, Ind.. 110 Other lines ................... . Leases West of Miss• .River. 216 BrunsWiok to Pattonsb'g,Mo. 80 32 Centra.lta to Colum.bia, Mo... 21 8 110 Total leased................. 211 Trackage, etc. Net. Total oper. expenses ..•• Net earnings ................. 26 Per ct. oper. exp. to earn'gs. From rent of tracks, &o ..... 70 70 Total net income ..••.... Total owned .............. 1,602 Gr. total oper'd June, 1897 .1,979 In June, 1897, arranp:ed with Grand Trunk to run two trains daily over that road into Buffalo. V. 64, p. 1089. HISTORY, &c.-Bucoessor in 1889 to the Wabash St. Louis & Paotilc, which was sold in foreclosure. Bee SUPPLEMENT up to January, 1889. LEASE.-The Boone Co. & Booneville RR. is leased till May, 1973. The B:nm11wiok & Chillicothe was leased to St. L. Kan. City & Northern for 9 99 years. Its bonds bear 6 per cent interest till August 1, 1900, then 8 per cent till maturity. Entrance to Chicago is secured over the c hloago & West Indiana, of whoee stock this company owns $1,oe.,,ooo CAPITAL STOCK.-The capital stock is $52,000,000, of which $24,000, 000 is preferred, having a preference ot 7 per cent per annum non eumulative. and $28,000,000 is common; par of each, $100. BoNDs.-Abstraot.e of the mortgages of 1889 were in V. 49, pp. 270-273. The first mortgage covers all the lines owned both east and west of the Mississippi, excepting the Detroit & Chicago extension, 150 miles-see below-and enough bonds are retained to retire the prior liens on roads west; but the second mortgage covers only lines east of the river a.t time of organization in 1889, 1,012 miles. The Wabash J?urohasing committee, under the reorganization of 1889, still holds its interest in two roads, the sum.s realized from the sale of which will go to retire Wabash :firsts at 105 after settlement of debts of committee. AR to Compton decree ($339,929 with 6 p. c. from May 1, 1888,) see V. 65, p. 926. Of the debenture mortgage bonds, $3,500,000 a.re series A (preferred in respect to interest payment11 only) and $26,· 500,000 series B. Series "A" received 6 per cent interest in 1890; in 1891, 6; in 1892, 6; in 1893, 6 per cent; in 1894 and 1895 none; in 1890, l per cent; none since-see V. 66, p. 39. The Detroit cl Ohicago Extension bonds cover 150 miles, completed in May, 1893, from Montpelier, Ind., to Clarke Junction, 26 milee, from Chicago. Mortgage is for $3,500,000. Trustee, Central Trust Company. Bee full abstract in V. 54, p. 1049. OBLIGATIONS ON LEASED LINES other than on the bonds in the table above are: Eel River Railroad Co.-Annual rental charge, $90,000 per annum-see V. 64, p. 1089. Also $500 per annum. for or~anization ex• penses. Louisiana & Pike County RR.-Annual rental charge, $800. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis G1·oss. Total owned and leased .... 1,813 150 Chicago to Clarke Junction.. Bt. Louis to near Kansas City. 275 8 short lines to Quincy, Detroit, &o................. . . . . St. L. Levee to Ferguson, Mo. 11 Moberly to Ottum.wa, Mo.... 131 Operat'd for Purchasing Com. Salisbury to Glasgow,Mo., etc 23 Oum,B West of Miss. River. 94 16 6 mos.- .Rents, 0th. inc. taxes, etc. Oharges. Bal.,sur. 1897 .... $6,797,566 $2,213,238 $74,100 $436,633 $1,347,272 $503,433 1896 .... 6,134,058 1,900,739 76,200 462,408 1,347,272 167,259 ANNUAL REPORT.-Fiscal year ends June 30. Annual meetinl at St. Louis second Tuesday in September. Report for 1896-97 was ven at length tn CHRONICLE, V. 65, p. 460, 471, showing results as ollows. See also editorial p. 444. Year ending June 301897. 1896. 1895. Average mileage . . . . . . . .. . . • 1,936 1,936 1,935 Passengers carried one mile. 135,963,860 158,966,979 139,472,829 Rate per passenger per mile 2·087 ots. 2·038 ots. 2·146 cts. Freight (tons) car'd one mile.I, 149,989,000 1,218,785,006 1,100,976,000 Rate per ton per mile....... 0·661 ots. 0·696 ots. 0·721 cts. Gross earnings.............. $11,526,788 $12,807,147 $11,959,839 Maintenance of way........ $1,542,064 $1,701,055 $1,464,216 Motive power................ 2,086,840 2,496,141 2,497,560 Maintenance of oars......... 684,330 936,645 882,527 Transportation and general. 3,665,923 4,108,763 4,076,727 Taxes ........................ :e'iitai~: ~:.~t•o~1t~~d~ei!_1~d Div'nds on pref. debentures $7,979,157 $3,547,631 (69·22) 195,347 $9,242,604 $3,564,539 (72·17) 213,417 $8,921,030 $3,038,809 (74·59) 239,587 $3,742,978 $529,1:!78 490,127 2,694,545 $3,777,956 $519,678 489,933 2,701,545 35,000 $3,278,396 $507,793 474,968 2,838,542 Balance...................... sur.$28,336 sur.$31,800 def.$542,907 President, 0. D. Ashley, N. Y. Office, 195 Broadway. (V. 65, p. 444, 460, 4'71, 926; V. 66, p. 39.) Wabash Chester & Western KK.-Chester, Ill., to Mt. Vernon, Ill., 65 miles. Stock (increased in 1893) $1,250,000; par, $100. lNTEREST.-On Jan. 1, 1896, paid 1 year's interest on consols, leaving i years in detault. Coupons due July, 1894, paid July, 1896, For year ending June 30, 1896, gross, $92,171; net, $1:i, 761; inter• est, $34,500; bal., def. for year, 739. In 1894·5 gross, $83,428. Waco & North-western KK,-See Houston & Tex. Cent. .Railway Warren KB., N. J.-New Hampton Juno. to Dela. Bridge, N. J., 18·8 m. Leased in perpetuity to Dela. L. & W. at 7% on stock and bonds. Washington Branch KK.-Owns road, Relay House (9 miles west of Baltimore) to Washington, D. C., 31 miles, all double track. Forms the Washington branch of the B. & 0. 'RR. Capital stock is :Sl,650,000, of which $1,002,800 is held as part security for B. & 0. consols of 1887 and $550,000 by the State of Maryland. Dividends have been 10 p. c. per annum, but dividend due May 1, 1897, was not paid owing to heavy expenditures for improve• ments-see B. & 0. item V. 64, p. 798,842. Waliilhlngton & Colurnbla River Ky.-Owns road from Dayton, Wash., to Pendleton.., Ore., 128 miles; branches, 35 miles; total 163 miles. Incorporatea in 1892. Stock is $3,000,000; par, $100. Mortgage trustee, Farmers' L. & T. Co., N. Y • . Additional first 4a may be issued for extensions at $20,000 per mile. (V. 61, p. 70.) EARNINGS.-Year ending June 30, 1897, gross, $213,259; net (over taxes), $7!"1,226; other income, $2,305; interest on bonds, $100,000 ; balance, deficit for year, $22,469. In 1895·6, gross, $213,930; net, $89,849; interest on bonds, $100,000. In 1894-95, gros111, $289,778 JANUARY, 1898 j 143 RAILROAD STOCKS AND BONDS. Subscribers -will confer a great favor by giving Im.mediate notice of' any error dl ■covered In these Table■• RAILROADS. INTEREST OR DIVIDENDS. Bonds-PrlnolMiles Date Size, or A.mount pal,WhenDue, For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payi.ble, and -oy Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. Wallkill Valley-lslimortgage ..•..... ..........•.... 2d mortgage income 7s .........................•.. Ware River-SEE BOSTON & ALBANY. Warren (.N. J.J-Btock,7 p. c. perp., g-:iar. D. L.& W 2d mortgage, now 1st......................... • -... 1st consolidated mortga\e ................. · ... • Washington Branch RR.- tock (see text) ...•..... Wash. ff <Jotumb. River-1st M., $2,500,000, p-r 1.d.c* Income bonds, non•cum, $2,500,000...... . ..• West Ohester-lst mort., int. guar. oy Penn. Ea ... West Jersey ff Sea Shore RR.-Common stock.. ..... Special guaranteed stock (Wesli Jersey RR.) .... Ca.md~n &Atlantic 2d mort~age ................ c• Consol M. ($650,000 are s; balance 6s coup.) West Jersey 1st consolidated mortgage ..... ... c· Consolidated mort!age ($1,800 is scrip) ....... r Swedesboro Railroa bonds ....................... Woodstown & Swedesboro let mortiage ....... c• W. Jersey & 8. 8., 1st consol. M., $7, 00,000, g.c* WestShore--lstM.,gui.&\tend. byN.Y.C.&H.c&r Syracuse Ontario & ew ork 1st mortgage ..•.. West Virginia Oentral ti Pittsb.-Stock, $6,000,000. let mortgage, ($25,000 per mil~ gold........... c* West Virginia <I Pittsb.-lstM., s . . notdr'n, gold.c• West'n (.A.la.)-Con. M.t\igu.byC.Ga. andGa.RR.c* Wutern Maryland-Is . and pref. 2d M. (end'd). 3d mortgage, endorsed "'Ni City o.r Baltimore...... 4th mort., 1n return for ity of Baltimore stock .. 5th mortgage,held by CityofBaltimore,sink'gf'd City of Baltimore loan ..•...............•.......... --·· ---- 1877 1877 ----------- 18 18 18 1855 1870 1875 ...... ---- i895 163 ...5 1895 1879 .... .... 79 i879 79 , 63 128 11 11 310 450 45 1881 1869 1879 1868 1882 1896 1885 1883 i23 issi 159 1890 133 1888 90 '58-'68 90 1870 90 1872 90 1887 .... . ... 50 100 i:ooo 100··&0. 50 50 1,000 1,000 500 &c. 500 &.c. 500 &c. 1,000 1,000 1,000&c 1,000 100 1,000 1,000 1,000 500 &c. 500 &c. -····· ...... . ..... $250,000 330,000 7 ·----- J. & J. N.Y.,Of.,5VanderbiltAv Aug. 1, 1917 Aug. 1, 1917 J. & J. --·-······ 7 A.15&O N. Y., Del. L. & W. RR. 1,800,000 750,000 do do A.15&O 7 600,000 do do M.& 8. '7 1,650,000 10i.R'96 M.&N. Baltimore. 2,500,000 4 g. J, & J. N.Y.,Farmers'L.&T.Co. 2,245,000 4 M:·&··s. Phila., Broad St. Stat'n. 75,000 5 4,507,900 5 in'97 M. & S . Phila., Broad St. Stat'n. 104,000 do do 6 M.&S.I5 497,CO0 do do A. & 0. 6 1,000,000 5&6 J. & J. do do 1,000,000 do do A. & O. 7 750,000 do do M.&N. 6 136,500 do do J. & D. 7 90,000 do do M.&N. 6 1,000,000 4 g. J. & J. do do 50,000,000 4 J. & J. N. Y., Gr. Cent. Station. 1,100,000 J. & D. 6 5,500.000 1 in'97 Yearly. Baltimore, Co.'s Office. 3,000,000 6 g. J. & J. Balt., Hambleton & Co. 4,000,000 5 g. A. & 0. N. Y., Farm. L. &Tr. Co. 1,543,000 fgg. A. & O. N.Y. GuarantyTrustCo. 222,000 J. & J. 875,000 6 J. & J. Balt., N. Mechanics' Bk. 1,000,000 do do 6 J. & J. 1,704,000 do do 314 J. & J. do 684,000 do 4 J. & J. Oc.15 '97,3¾%, Oct. 15, 1900 Moh. 1, 1905Nov., '96, 5%, July 1, 1935 July 1, 1935 Sept., 1919 • Sept.15 '97,2~ Sep. 15.'97,3% Oct. 1, 1899 July 1, 1911 Apr. 1, 1899 Nov. 1, 1909 Dec. 1, 1898 May 1, 1912 July 1, 1936 Jan. 1, 2361 1933 Oct. '97, 111% July 1, 1911 Apr. 1, 1990 Oct. 1, 1918 1890 & 1895 Jan., 1900 Jan. 1, 1902 Jan. 1, 1927 July 1, 1925 Washington Ohio & Western.-SEE SOUTHERN RAILWAY. President, H. G. Davie, Baltimore. (V. 63, p. 456; V. 64, p. 333 v. 65, p. 5 66.) West .-rersey KK,-SEE WEST JERSEY & SEA SHORE RR. West Virginia & Pittsburg KK.-(See Map Balt. ti Ohio.JWest .-rersey & Atlantic KK.-SEE WEST JERSEY & SEA ROAD.-Opened in 1892 from Clarksburg, West Va., on the B. & 0., via SHORE RR. Weston, southerly to Camden-on-Gauley, West Va., 103 miles, (of which West .Jersey & Sea Shore KK.-(SeP, Map P -m,nsylvania RR.) 1¾ miles owned by B. & 0.), with branch, 6 miles; also from Weston -Owns all the lines of tne Pennsylvania System in Southern New via. Buckhannon to Pickens, 50 miles; total, 159 miles. Jersey, including the line from Camden, opp@site Philadelphia, to LEASE.-Leased to the Baltimore & Ohio for 999 yea.rs, from Jan. 1, Atlantic City (59 m.), Camden to Cape May, 81 miles, with branches, 1890. The rental is 62¾ per cent of the grosl!I revenue. The remaining etc., 310 miles in all. 37¾ is to be applied by B. & O. to paymenli of interest on bonds, the ORGANIZATION.-Incorporated May 4, 1896, and abRorbed, per plan B. & 0. agreeing to advance any sums needed to pay this interest in n V. 62, p. 366, the Camden & At.lantic, West Jersey, etc., comprising full, such advances to be a charge against future net earnings. See the Pennsylvania lines in Southern New Jersey. (See V. 62, p. 871.) V. 51, p. 718. In 1905 and at end of every ten years thereafter rental STOCK.-Common stock authorized, $8,076,000. may be altered by arbitration. Seep. 8, SUPPLEMENT of April, 1896. DIVIDKNDS.-On speciat gum·anteert stock 6 per cent per annum. On STOCK-Com., $2,500,000; pref., 5 p. c., non-cum., $900,000; par, $106. common in 1896, Oct., 2-½3 p. c.; in 1897, Mar., 212 p. c.; Sept., 212 p. c. 1erfe~.' June 30, 1897, owned $1,250,000 common and $200,000 pr&BONDS.-First coutmlidated mortgage is for $7,000,000, of which in July, 1896, $3,473,b00 were reserved for prior lien boeds when BONDS.-The first mortgage for $4,000,000 (trustee, Mercantile True 1 due, $2,526,500 for improvements, etc., and $1,000,000, used for Company of Baltimore) covers besides the road and its equipment refunding, etc., were sold in June, 1890. See description, V. 62, p. 134,842 acres of timber, coal and mineral lands in West Virgirua.. !'here 1179. Mortgage trustee is Common wealth Title Insurance & Trust Co. is a sinking fund, but bonds cannot be called. (V. 54, p. 725.) Loans of Philadelphia. and bills payable June 30, 1897, $265,834; eqmp. notes, $34,860 of 6s, GENERAL FINANCES.-In June and July, 1896, several old loans payable quarterly to Oct., 1898. a.~gregating about $950,000 were replaced by new consol. 4s, of which EARNINGS.-4 months, 51897.......... Gross, $144,506; net, $72,913 $1,000,000 were sold. July 1 to Oct. 31. { 1896.......... Gross, 134,989; net, 77,54.6 ~ARNINGS.-11 mos., 51897 ........ Gross, $2,387,366; net, $607,712 ANNUAL REPORT.-l<'iscal year ends June 30. Report for 1896·97 in Jan. 1 to Nov. 30. { 1896 .•••.••• Gross, 2,402,102; net, 578,436 V. 65, p. 821, showing earnings as follows: The combined earnings of the roads show : Gross. Net. 0th. inc. lnt.,tax,etc. Balance 1896-97 ...... $384,488 $188,577 $48,391 $231,171 sur. $5,797 Years end. Dec. 31. 1896. 1895. 1894. 1893. 218,840 83,596 236,416 Sur. 66,020 Gross earnings ....... $2,554,919 $2,565,847 $2,440,898 $2,531.371 1895-96 ....•• 400,442 202,248 20,749 242,229 def. 19,232 Net earnings.......... 586,888 616,269 619,444 583,293 1894-95 .••... 362,472 1893·94.. . . . . 387,949 210,339 loss 6,011 227,404 def. 23,076 In 1896, other income, $23,571; interest on funded debt, $276,054 -(V. 57, p. 852; V. 59, p. 695; V. 62, p. 82, 634; V. 63, p. 600; V. rentals, taxes, etc., $83,732; balance for dividends, $250,673. Divi 65, p. 821.) dends at 5 p. c. on common (and 6 p. c. on special guaranteed) call for Western Ky, oC A.labama,-RoAD-Belma to West Point, 133 $231,635 per annum.-V. 62, p. 366,504,742,871,989, 1098, 1179. miles. Ownea. jointly by the Georgia. RR. and Central RR. of Ga. West Shore KK.-(SeeMap N. Y. Oentral ti Hudson River.)-Line Stock, $3,000,000 (par, $100), of which Central of Georgia and of road from Weehawken, N. J., opposite New York City, to Buffalo, Georgia Railroad each owns $1,500,000. N. Y., with branches to Albany City and Rochester City, 450 miles; DIVIDENDS.-In 1894, 2 p. c.; in 1895, (June) 2 p. c.; in 1896 (June), Syracuse Ontario & New York (formerly leased and afterwards ab- 2 p. c.; in 1897 (Jan.), 2 p. c.; June, 1 p. o. sorbed), Syracuse to Earlville, 45 miles; total, 495 miles. Successor EARNINGS.5 months, 51897....•.... Gross, $238,717; net, $88,328 in 1885 to the New York West Shore & Buffalo sold in foreclosure. July 1 to Nov. 30. t 1896......... Gross, 274,904; net, 117,200 LEASE.-Lea.sed in 1885 for 475 years to the New York Central & EARNINGS.-For year ending June 30, l897, gross, $636,533; net, Hudson and all earnings, &c., included in that company's report. The $258,059; other income, $3,206; int€1rest and taxes, $94,954; mis$10,000,000 of stock is owned by the New York Central Company. cellaneous, $39,566; dividends, $90,000; bal. surplus for year, $36,BoNDs.-The West Shore mortga~e is made to the Union Trust Com· 745. In 1895-6, gross, $579,803; net, $211,964. ~ny as trustee, and covers the line of road, Weehawken to Buffalo, Western Maryland KK.-RoAD-Ba.ltimore to Williamsport, Md. w~th branches, 450 miles in all, and also the terminals at Weehawken by ownership of all the stock and bonds of the Terminal Company. etc., 93 miles. Leases-Baltimore & Cumberland Valley Railroad and The guarantee of the New York Central & Hudson is absolute as to extension, Edgemont to Shippensburg, Pa., 34 miles; Baltimore & Harinterest and principal and is endorsed on each bond. Bee abstract; of risburg Railroad, Emory Grove, Md., to Orranna, Pa., 59 miles, and mortgage in V. 42, p. 176. The Syracuse Ontario & N. Y. bonds "were branches, 7 miles; western extension, 15 miles; Potomac Valley RR., Williamsport to Cherry Run on the B. & 0., 14 miles, and Porters to not assumed as part of the West Shore mortgage." West Vlrdnla Central & Pittsburg Ry.-A coal a:a.d railroad York, 16 miles; total, 238 miles main line. STOCK.-Common stock is $684,950; par, $50; six per cent first pre• oompany m West Virginia in the u.pper Potomac region-the Elk Garden Coal Field. Owns road in operation from junction near Piedmont, ferred stock, $324,000. The company has been largely assisted by the city of Baltimore, which, Jan. 1, 1893, owned $200,000 of its common W. Va.., to Belington, W. Va.., 102 miles; Elkins Junction to Beverly, 6 miles; branches to Mineville, Elk Garden, &c., 15 miles ; total owned, stock, $4,263,000 of its mortgages and $2,924,850 overdue coupons. Washington County, Md., also in October, 1892, owned $110,000 com123 m. Rails on June 30, 1896, were: 42 miles of 70 lb. steel and 81 miles 56 lb. Leases Pied. & Cumb. RR. 29 m.; total ol)erated.. 152 miles mon ana all the $324t000 preferred stock. Of the thirteen directors the city bas a.ppointea eight and the county two. V. 55, p. 545. H.ISTORY.-Main line completed in 1889. Company owns 32,244 acres of coal a.nd lumber lands covered by the first mortgage and has - BoNDs.-Of the issue of $690,000 Baltimore & Harrisburg bonds, $120,000 are held in trust to pay off the Baltimore & Hanover first 6s, mineral rights on 5,407 acres more. See V. 60, p. 220. There a.re three Balto. & Oumb. Valley first mortgages on different 8TOCK.-8tock a.u.thorized, $6,000,000, all listed on Baltimore Stock pieces of road, and under the lease to the Western Maryland interest Exchange, but June 30, 1897, $500,000 was held in treasury of the on the mortgages is provided by rental. oompany. Bills payable June 30, 1897, $283,820. From July 1, 1892, the company has patd regularly interest on all DIVIDENDS.-From 1889 to 1894, both inclusive, 1 p.c. yearly in March ; its obligations except on 3d and 4th mortgages, which is paid by the in 1895, March, 1¾ p. c.; in 1896, Jan., 112 p. c.; in 1897, Mar., 1 p. c.; City of Baltimore. Oct.,¼ p. c. Floating debt Oct. 1, 1896: First mortgage, overdue, $43,500; bills BONDS.-First mortgage is for $3,600,000 to W. P. Whyte and the payable, $301,904; funded6 p. c. certs. held by Baltimore, ,226,530; unfunded coupons, $71,742. Metropolitan Trust Co., as trustees. See V. 52, p. 204. LEASED LINES.-As to leased lines see SUPPLEMENT November, 1893. LATEST EAR}.'INGS.- 6 mos., 51~97 .. Gross, $583,495; net, $117,492 Potomac Valley RR. bonds are guaranteed by the Western Maryland July 1 to Dec. 31. { 1896 .. Gross, 587,280; net, 197,811 and the Baltimore & Harrisburg. See Potomac Valley and V. 52, p. 121. ANNUAL REPORT.-Fiscal year llhan,red to end June 30. Tb<I annual A.NNUA.L REPORT.-Fiscal year ends September 30. Report for 1895·6 report for 1896-97 was in V. 65, p. 566. Total coal and coke sWpments was in V. 64, p. l 78. The earning-s, including Balto. & Harrisburg, for year 1896-97, 1,219,869 tons; 1,176,372 tons in 1895·96; 1,002,434 tons in 1894-95 tons; 825,757 tons in 1893-94 and 929,427 tons in Balto. & Cumberland and Potomac Valley, were as follows: Year end. Gross Net "Interest, Div.on Bal., 1892·93. Earnings have been: Sept. 30. earnings. earnings. rents., &c. yref. surp. Year. Gross. Net. P.<iO.RR.Net. Prof.onOoat. Tot.Net. 1897. ···········$1,251,238 $411,018 $324,122 $1,396 $85,500 1896-97 ... $604,348 $191,204 $5,159 $77,665 $274,028 1896 ............ 1,265,690 399,050 323,665 1,520 73,861> 1895·96 ... 612,689 215,899 10,633 102,607 329,139 1895 .....•....•• 439,035 296,458 1,356 141,221 1894-95 . .. 531,536 186,235 20,289 83.039 289,563 1894 ............ 1,277,863 1,203,174 390,735 351,128 1,445 38,162 1893 94 .. 504.597 174.049 13,126 f24.3\!7 271,562 From net in 1896-97. as above, deduct interest, $180,000; dividends • Interest assumed bv Baltimore City is not included. $55,000; balance, surplus for year, $39,028. -(V, 57, p. 1121· V. 60, p. 218· V. 62, p 82; V 64, l> 17 8,) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT 144 tVoL, LXVI. Subscribers will confer a great f'avor by giving lm.Jnedlate notice of' any error difmovered In these Tables. RAILROADS. For explanation of oolumn headings, &c., see notes on first page of tables. West.Maryl'd-(Oon.J-Balt. & Harrisb. RR.; pr.Ms. INTEREST OR DIVIDENDS. Bonds-Print i Miles Date Size,or Amount 1 - - - - = - - - - - - - - - - - - ~ pal,WhenDue. of • of Par Outstanding Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. --- --- 1879 irl:o1fl~e (for $690,000), gold ............ . .... o* ·32 1886 $i:ooo 15 1888 1,000 Lat . est. Ext. ($16,000 p. m.), gold, guar... o* 34 '79·'81 Balt. & Cumb. Val., 1st mort%ages (see remarks) ···50 WesternN. Y. d! Pennsylvania- took ,see text) ..... 615 1,000 West. N. Y. & Penn. 1st M., ($10,000,000)if.old.o* 615 1,000 General M., $10,000,000, gold, see text, ..... o* 615 1895 1,000 Income bonds, $10,000,000, golel, non·cum.FPc* , ..... 1895 50 R-eslern J>enn.-Stock ................................ ---· 1,000 Consol. M. ($5,000,000),gold,guar. p.&i.Pa.RR.c" isi 1888 100 Wheeling d Lake Erie-Common stock (see text) ... -----·· 100 Preferred stock, 6 per cent, not cumulative ....... Receiver's certificates (V. 64, p. 1182) ........... lstM.,LakeE. Div.,Bowerston toL.E.,g., 1'1e.c* isi fooo 1,000 50 1888 lat M. Whee":Ji Div.,$ & £ (2d on 187 m.)g.C.c* 1,000 Toledo Belt R · way lat mort age, gold, guar .... 5 1888 1,000 Exten. and Im.pr. mort.($1,90 ,000),fold, O ... . c" 260 1889 1,000 Consol. mortgage for $8,000,000, god .. $&£, C .c 260 1892 . ...... Car trusts, November, 1896 ......• . ............... i:o·oo Wicn,ita Valley-lat M. subj. to call at 105,g... c~&r ·5i 1890 Witkesbarre d! Eastern-See NEW YORK SUSQUEHA NNA & WEST ERN. 50 Wilkesbarre d .Scranton- Stock, 5 per cent rental.. 5 1,000 First mortgage gold, guar. p.&i. by L. C. & N. Co. 5 1,000 45 1892 William~ort ti No. Br.-lst M.,$2,000,000 g., FPo~ 100 Wilm. Oo um.d!Aug.-Stock,6p.e.,guar.Wil. &Wel. 1,000 lat mortp;age ........................ . ............. c i92 1880 50 1896 1,000 Wilm. & Conway 1st M.,g., gu.p.&i. by W. C.&A. Wilmington d! ..Vewberne RR.-See text. 500 Wilmington d North.-lstM.,sub.to call in 1907... r 88 1887 1,000 88 1892 General morw,a!e for $1,000,000, gold .......... r 100 Wilmin17ton d! e don-Stook ........................ ..... 100 Certtll.of indebt.for div'd in '87,non-oum., income. 1,000 Gen.:M. (ror$4 000,000)$938,000 aro,4s,S.Ba.g. *c 468 iss7 ---· ---· isss 8 isss ---- ---· ---- iss5 Western New- York & Pennsylvania Ky.-Owns Buffalo to Emporium, Pa., 121 miles; Buffalo to Oil City, Pa., 136 miles; Oil City to Olean, 116 miles; Rochester to Hinsdale, 99 miles; Stoneboro to West New Castle, 36 miles; branches, including proprietary lines, 107 miles; total owned, 615 miles, of which 52 are narrow gauge; leaees, 36 miles. ORGANIZ.A.TION.-Reorga.nization March 18, 1895 (per plan in SUPPLE· MENT or January, 1895), or the Rail1·oad, foreclosed Feb. 5, 1895. STOCK.-The voting power on $5,000,000 new capital stock issued by the old 2d mortgage bondholders is to be held in trust for five years by George E. Bartol, Nicholas Tllouron and Samuel G. De Coursey. BoNDs.-Abstract of Western N. Y. & Pa. 1st mortgage in V. 47, p. 109. The general rnortgage carried interest till April 1, 1897, at 2 per oent, now till 1901 at 3 per cent and thereafter at 4 per cent. FLOATING DEBT.-New equipment notes Dec. 31, 1897, $102,194, bond a.nd mortgage on real estate, $289,799; K.inzua. Valley freight · warrants, $57,000. EARNINGS.-5 months,?_ 1897....... Gross, $1,578,123; net, $645,351 July 1 to Nov. 30. 51896....... Gross, 1,444,950; net, 569,532 ANNUAL REPORT.-Fisoal year ends .June 30. Report for 1896-97was given at length in V. 65, p. 7'lf,, 781; see editorial remarks, p. 753. The interest on the new general mortgage bonds to April 1, 1896, was provided for out of assessments on stook at the time or reorganization; therefore only 3 months' interest appears in charges of 1895·96. Inter• est charge on these bonds for 1896-97 amounts to $225,000, and for 1897-98 will be $300,000. Since .July, 1895, all betterments have been charged to expenses. 1896. 1895. Years ending June 30. 1897. Gross earnings ......•.....•........ $21,954,774 $3,186,028 $3,282,008 $989,174 $952,118 Netearnings......................... :i;911,828 29,600 56,638 Other income... . ................... 54,611 ---- Net income...................... $966,439 $1,008,756 $1,018,774 $516,350 $508,709 Interest oharges on 1st mortgages. $499,500 50,000 Int. on gen. mtg. (see above)...... 225,000 95,430 Taxes................................ 90,076 87,547 26,407 Int. on real est. and equip. notes.. 25,613 ·so:65s $120,000 570,000 240,000 351,300 g:ggz:~8 6 J. & 5 g. M. & 5 g. M. & 6 .J. & J. Baltimore, Co.'s Office. N. do do N. do do J. do do 2 ···ifg. J:·&··.r. N. Y., Contineiital Tr. 10,000,000 3-4 g. A. & 0. do do 10,000,000 5 Nov. 1. Office-When earned. 1,775,000 See text. A. & 0. Philadelphia, Pa. 4,000,000 4 g. J. & D. Phila.,Broad St. Station 15,000,000 .... .. ..... 4,500,000 See text. . . . . . N. Y., Office, 40 Wall St. 432,500 3,000,000 ···s·g. A_-·&· ·o. Apr.,'97,pd.Oct., 1897. 1,500,000 5 g. J. & J. Jan., '97, coup. last pd. 276,000 , 5 g. M. & 8. Sept.,'96, coup. last pd 1,624,000 5 g. F. & A. Aug., '96, coup. last pd 1,600,000 4 g. J. & J. Jan., '97, coup. last pd. 626,021 769,000 ...5.g. J_-·&··.r. N.Y. Mercantile Trust. 500,000 500,000 1,125.000 960,000 1,600,000 200,000 5 412g. 5 g. 6 6 4 g. M. & N. do do M. & S. Phila., Fid. I., Tr.& S.D. .J. & .J. Wilmington, N. C. .J. & D. New York & Baltimore. ..... 354,000 5 466,000 5 g. 3,000,000 See text. 2,500,000 7 4,000,000 4g. & 5 g. .J. & D. Reg.; Co. ma.lls checks. Q.-F. do do M. & N. Wilm.,N.C.. Co.'sOffice. A. & 0. do do J. & J. N. Y.,Balt. and Wilming. Jan. 1, 1899 Nov. 1, 1936 May 1, 1938 July,1929&'31 .ran:·1,"i937 Apr. 1, 1943 Apr. 1, 1943 Oct.15,'97,3% June 1, 1928 . ....•• May 15, 1894 Oci.°·1,"fa26 July 1, 1928 Part eaoh year Feb. 1, 1930 July 1, 1992 Juiy·1,"i940 Phila., 106 So. 4th St. . ....••. May 1, 1938 Sept. 1, 1922 Jan., 1898, 3% June 10, 1910 J. & J. Balt.,SafeDep.&Tr.Co. Jan. 1, 1946 1907-1927 Aug. 1, 1932 Nov.L0,'97,4% Irredeemable. July 1, 1935 $966,033, including bills payable, $398,839 ; accounts -payable, $800 • 751; wages , $166,693; also car trusts, $613,005.-See V. 64, p. 374. LA1 MST EARNINGS.-Jan. 1 to Nov. 31 (12 months), gross,$ 1,197,016 in 1897; $1,297,950 in 1896. For calendar year 1896, gross, $1,301,244, against $1,421,945 in 1895. ANNUAL REP0RT:-Fiscal year ends June 30. Report for 1895·96 was in V. 63, p. 500, 553. During the year 1895·96 the company carried 1,230,530 tons of bituminous coal, against 1,105,930 tons in 1894·95; and 214,810 tons of ores, against 202,810 tons in 1893·94. Year ending June 30- 1896. 1895. 1894. 1893. Gross earnings ........ $1,544,545 $1,447,255 $1,367,648 $1,595,991 Netearnin~s.......... 444,890 412,320 473,666 547,884 Interest paid........... 379,779 378,575 370,857 320,694 Divid's on pref. stock. ........ . . . .. . . . 135,000 180,000 -(V. 65, p. 27,195,328,419,516,573,622,825, 932.) Wilk.es barre & Scranton Ky.-( See Map Oentral RR. of N. J.JOwns from Scranton to Minooka Junction, Pa., 5 miles, of which 1¼ miles is double track. Leased from May 1, 1888, to Lehigh Coal. & Nav. Co. (see "Miscellaneous Companies") during tts corporate existence less one year, at $47,500 per annum and taxes. Lease assigned to Central of N. J. at 6 per cent on cost or road ($1,065,000) and taxes. In June, 1894, Lehigh Coal & Nav. Co. held all the stock. Williamsport & North Branch KK.-Hall'a to Batterfeld, Pa., and branch 45 miles. Common stock (auth. $2,000,000) issued; $925,362; preferred, $300,000; par value or each, $50. EARNINGS.-Year ending June 30, 1897, gross, $78,368; net, $6,302; interest, $56,250; bal., deficit, $49,948. In 1895-96, i'I'OSs, $100,858; net, $36,652. Vioe·President, George V. Forman, Buffalo, N. Y. Wlhnlngton Columbia & Augusta KK.-Owns from WU mington, N. C., to Columbia, S. C., 192 miles; in 1896 the Wilmington & Conway, from Conway, S. C., to Hub, N. C., 50 miles, was consoli• dated with the W. C. & A., and then leased to Wilmington & Weldon; total, 242 miles. Leases jointly with Northeastern (South Carolina) Railroad, the Central Railroad of South Carolina, Lane, 8. C., to Sumter, 8. C., 40 miles. Total operated, 282 miles. In June, 1885, leased for 99 years to the Wilm. & Weldon, the lessee to pay all fixed charges and 6 per cent dividend on the stock. On .June 30, 1897, loans and bills payable were $136,360, ANNUAL REP0RT.-Fiscal year ends June 30. Report for 1896-7 was in v. 66, p. 181, showing gross, $697,258; net, $166,737; other income, $31,543; interest oharg-Ps, $124,741; dividends, $57,600; bal• anoe, 11urplus for y"ar, $15,939. In 1895-6, p;ross, $637,241; net, $163,234; other income, $32,569.-(V. 64, p. 887.) Wllrnlngton & Ne'1Vbern RR.-Road from Wilmington to Newbern, N. C., 88 miles. Wilmington & Weldon stockholders Nov.17, 1897, voted to consolidate with this company. Year 1895-96, aross, $76,996; net, $4,0\J!:!; charges, $61,046. In 1894·95, gross, $80,089; net, $13,077.-V. 65, p. 112, 1127. Wlbnlngton & Northern KK.-Owns Wilmington, Del., to Highs Junction, Pa., 71 miles ; branches, 17 miles; total owned, 88 miles; trackage to Reading, Pa., etc., 4 miles. Organized January 18 1877, after foreclosure sale. General mortgage bonds are reserved to retire first mortgage indebtedness at maturity. STOCK authorized. $1,500,000; outstanding, $1,278,050; par, $51). ANNUAL REPORT.-Report for 1896, in v. 64, p. 949 and 998 showed: Yr. end.Dec. 31-- Gross. Net. Interest. Rental. Bal., surp 1896 ............. $463,737 $60,370 $45,240 $4,516 $10,614 1895 ........ . .••. 488,315 71,896 38,500 33,396 -V. 64, p. 949, 998, Wlhnlnaton & Weldon KK.-ROAD-Owns Wilmington to Wel· don,1., N. C., tifa miles, and from South Carolina State line to Contentneal N. u., 116 miles; branches, Scotland Neck (Halifax to K.ing~ton), 85 miles; Tarboro, Nashville, Newbern, etc., 246; total owne1, 609 miles. Leases Wilm. Col. & Aug., 243 miles; Central South Carouna (jointly with Northeastern South Carolina RR.), 40 miles. Reaohes Augusta, Ga. from Denmark, 8. C., 57 miles, on South Carolina & Georgia RR . In November, 1897, voted to absorb Wilmington & Newbern by con• solidation. ORGANIZATION.-Organized in 1836. Controlled by Atlantic Coast Line Co. (which see), which owned $2,000,000 stock June!, 1897. DIVIDENDS, ETc.-From 1884 to .July, 1891, both inclusive, at rate of 8 per cent per annum; in November, 1891, 4 per cent; in July, 1892, 4 per cent; in 1893, 3; 1894, May, 3; in 1895, 6; in 1896, May, 3 p. c.; in Nov., 3 p. c.; in 1897, May, 3¼ p. c.; No,., 4 p. c. .ANmJAL REPORT.-Report for year ending June 30, 1897, was in V. 66, p. 79, showing earnings as follows: Year end'g June 30. 1897. 1896. 1895. 1894. Gross earnings ........ $1,854,006 $1,803,196 $1,625,076 $1,637,752 Expenses and taxes .. 1,132,790 1,110,522 1,013,813 990,899 $332,860 Balance, surplus................. .. . $126,250 $320,569 -( v. 65, p. 2'76, 21:!~, 77 5,781,932; v. 66, p.136.) Western Pennsylvania KK.-Owns from Bolivar to Butler, 71 miles, and Butler Junction to Allegheny City, 27 miles, double track; branch. 39 miles; total, 137 miles. New lease of Jan. 1, 1897, to Penn• ~ylvania RR. in place of lease of 1888 provides for fixed rental insuriDg 6 J>er cent dividends per annum. EARNINGS.-In year ending Dec. 31, 1896, gross, $1,543,070; net, $525,~70. In 1895, gross, $1,523,058; net, $491,528; other inoome, $23,522; m_terest, taxes, eto., $408,186; dividend (8 p. o.), $142,000; bal., deficit, $35,136. Penn. RR. owns -the $1,775,000 stock. Dividends in 1894, 8 p. c.; in 1895, 8 p. c.; in 1896, 8; in 1897, April, 3 p. c.; Oct., 3 p. c. Wheeling & Lake Erle Ky .-Owns Toledo, 0., to Bowerston, 0. 174 miles, and branch to Huron, 0. 13 miles; Wheeling Division, Bowerston to Martin's Ferry, opposite Wheeling, 42 miles; Steubenville branch. 14 m.; Toledo Belt, 4 m.; total, 247 miles. Owns large interest in Wheel. L. E. & Pitts. Coal Co.-whioh see in this SUPPLEllENT. RECEIVERSHIP.-On Jan. 15, 1897, Myron T. Herrick and Robert Bliokensderfer were appointed receivers. (V. 64, p. 182.) Certifloates for$432,500 were authorized in June, 1897, for bridges.-V. 64, p. 1182. DEFAULTS.-Sec table at top of page. PROTECTIVE COMMITTEES.-Louis Fitzgerald, Chairman; w. L. Bull, .of Edward Sweet & Co., and Dunoan D. Parmly, of Marquand & armly; Edward N. Gibbs; depositary, Mercantile Trust Co., N. Y., for W.& L. E. firsts, consol. 4s and preferred and common stook, and first mortgage bonds and stock of the Wheel. Lake E. & Pittsburg Coal Co. tn July, 1897, practically all the consol. 4s and nearly two·thirds of thew. L. E. & P. Coal Co. firsts had been deposited. V. 65, p . 195. Plan.-In January, 1898, plan was expected shortly. Stockholdtrs' Protective Oommiltee.-Dick Bros. & Co., Bell & Co., .Clark, Ward & Co., Webb & Prall and Thompson & Mairs; Secretary, Philip Hathaway, 30 Broad St., N. Y.; d epositary, Central Trust Co., '.N. Y. A majority of both common and preferred stock have been de• posited. (See V. 65, p . 622.) Stock deposited will be recognized in any plan of r eorg anization which w'l.y be approved by the committee, of whi ch General Fitzgerald is chairman. (V. 65, p. 516, 573, 622.) A call of 1 p. c. a ssessment on the stock was payable Oct. 25, 1897, and -Central Trust Co. certificates h a ve been listed on the New York Stock Exchange.-V. 65, p. 825,932. Lake Erie Division Firsts • f Io26.-George Coppell, Ed ward N. Gibbs, Frederic Cromwell and Joel B. Erhart. Depositary Guaranty Trust -Co ...N. Y. A majority of these bonds deposited and trust company .~ertiflcates listed.-V. 64,p. 1228; V. 65, p. 328,419. Exten. and Irrip. JS of I<i;'o.-Brow....1. Bros. & Co., 59 Wall St., N. Y. Coupons due Feb. 1, 1897, purchased on deposit of the bonds. DIVIDENDS.-On pref. stock-April, 1888, to 1890, 4 p. c. per ann.; Net earnings...... $721,216 $692,674 $611,263 $646,853 ·in 1891, 4~; tn 1892, 4~; in 1893, 4 p. c.; in 1894, 2; none since. In 1896·97 total net income, $776J.250; interest charges, $440,637 GENERA r. FrN ANCES.-Ba.lance sheet furniPhed to stockholders' com dividends, $195,000; bal., surplus, :i;l40,613. In 1895·96 paid divi· mitt. e by the receiver as of Jan. 15, 1897, shows: Current liabilities dends amounting to $1~0,000.-(65, p. 1127; V. 66, p. '79.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11:i RAILROAD STOCKS ~D BONDS. JANUARY, 1898,] Subscribers ,vlll conf'er a :itreat Cavor by giving lnunedlate notice of' any error discovered In these Tables. Bonds-Prinot • INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or A.mount pal, When Due. of Par Outstanding Rate Per When Where Payable, and by Stocks-Last ~or explanation of column headings, &o., see notes of Road. Bonds Value. on first page of tables. Whom. Cent. Payable Dividends. •W ilmington cl: Weldon.-(Concluded.J- 1st M. Tarboro branch and extension ..... . ....•.. Special trust certi:floates . . ......................... WinonaB1"'1,dge-lstM., ~ld, s.f .. r'd. atll0aft. ' 98 Winona~ Western - Stoc , $2,000,000 .............. 1st mortgage, gold .....••......... ·.· ............... Wisconsin Oent. <Jo.-Receivers' certifs.-See text .. Chippewa Falls & Western 1st mortgage ......... Wisconsin & Minnesota 1st mortgage, gold •...... Minn. St. Croix & Wisconsin, 1st mortgage ....... Terminal mortgage notes ..........•...•.... . .... rmrovement mortgage notes ..•........•....... Peno ee 1st mor~age ............................. Wis. Cent. R. R - onsol. M.,lstseries,gold .... o&r Consol. M., 2d series, income(not cum.) §old.c*&r Wisconsin Central Co. 1st M.,$12,000,00 , gold.o* Income M., non-cum., $9,000,000, aold ....... o* Wis. Cent. Co.& RR. Imp. bonds, gol , oonvert.o* Chicago Wis. & Minn. (leased)-lst mort., gold . o* Income bonds, 6 per cent, cumulative .......•.. Wis. Cent. equip. notes, $500,000, (monthly) .... . Wisconsin Central Railroad improvement notes. Wi sconsin cf Michigan R7t:-lstM.,g., $15,000 p.m. Woonsocket cf Pasc.-lst ., int. gu. City of Woon.o Worcester Nashua cf Rochester- Stock ($3,600 000) . . Wor.&Nas. iwor.Nashua& Roch. RR. bonds ... o* 1st M. of do do do ..... '79 secures do do do ... o* allequa.uy, l do do do ···-· York Southern-York & Peach Bottom "A." & ''B". York Southern 2d mor1{iage, gold ............ . .... Zanes.~ Ohio River-1st ., $2 ,000 p. m., gold.o" --- 53 1894 416 416 All. All. ---- 122 ------- ·:,,;4 10 94 47 47 47 47 .... ·so J . & J. Wilmiogton, N. C. 1944 M. &N . Wilmin~ton, N. C. At Co.'s option M. & s. .N Y., J. Walker .t Son. Sept. 1, 1915 -----· ------ M.& N. M.& N. A. & 0. M.&N. F. & A.. M.& 8. M.& B. 4 $500,000 380,000 6 5 g. 384,000 100 100,000 ···:fg. 1,000 1,150,000 1894 2,000,000 5 1874 1,000 150,000 7 1880 810,000 7 g. 1884 ...... 180,000 6 1885 400,000 8 1886 ...... 215,000 8 1887 ~0,000 5 1879 500 &o. See text. 5 g. 1879 500 &o. 12,000 7 g. 1887 1,000 11,265,000 5 g. 1887 1,000 7,536,167 5 g. 1891 1,000 3,642,122 5 g. 1885 1,000 2,860,000 6 1885 ...... 1,040,000 5 1896 500,000 ...6.. ---··· 1,100,000 1889 1895 810,000 5 g. 1890 1,000 100,000 5 100 3,099,800 5 in1897 1,000 150,000 4 1,000 1893 511,000 4 1,000 1890 735,000 4 1,000 1895 380,000 4 1882 ...... 249,950 5 1894 150,000 5 g. 1886 100·&0. 2,000,000 6 g. ---··-- isoo ---- isoi5 ---·10 54 .... .... ... -- ----·· i:ooo -----· i:ooo iss<> Winona Brldcre Rallway.-Owns bridge between Winona, 'Minn., and Buffalo,'wis., 1·03 mile, opened Sept. 1, 1891. Leased to Winona & Southwestern, Green Bay Winona & St. P. and Chicago Burl. & No. for 30 years. STOCK.-$400,000; par, $100. E A.RNINGS.-Year ending .Tune 30, 1896, gross, $20,628; net, $13,276; .charges, $19,583; balance, def., $6,307. In 1894-5, gross, $18,916, Winona & Western Ky.-Owns from Winona, Minn., to beyond Osage, Iowa, 117 miles. Organized in October, 1894, and purchased the WIDona & Southwestern, sold in foreclosure. V. 59, p. 836. Stock authorized, $2,000,000; par, $100. EAR ll: JNG!-.-Year endln~ .Tune 30, 1897, gross, $142,597; in 1896, gross, $158,559; net, $23,112; 1895, gross, $143,729; net, $3,640. Interest on bonds was paid to June .30, 1897.-V. 61, p. 578. Wisconsin Central 0ompany.-SYSTEM extends from Chicago to A.shl&nd, Wis., and L11ke Superior iron mines, also to St. Paul and Minneapolis. By the Milwaukee & Lake Winnebago extension to Manitowoc and the car ferry across Lake Michigan, connectin~ with the Flint & Pere Marquette, the Wisconsin Central has a short line to the East, opened January, 1897. V. 63, p. 117. The system includes: Wis. Oent. Oo. owning: Xilf.,s. Wis. Oent. RR. owning: M·iles. .St. P. Jun. to .A bbottsford, Wis.157 Neenah to Ashland ............ . 249 Branch to Bessemer............ 34 Stevens Point to Portage City. 71 Branches to Eau Claire, etc .... 12 Branches, etc ................... 32 Spurstoindustries(15m.unop.) 53 8purstoindus tries(39m.unop.) 76 Leasing: Leasin g: Chicago Wisconsin & Minn.Milw. & Lake WinnebagoChio. to Schleisingerv.,eto .. 115 Neenah to Schleisingerville. 64 Spurs to industries ..... . .... . 151 Extension to Manitowoc..... 45 T1·ackage to Chio., Minn., etc . . 26 Spurs to industries........... 5 Rugby to Milwaukee, et(I.... 29 Packwaukee & Montello....... 8 Grand total (including spu.1.s operated 129 miles and unop. 54 m) .991 PHYSICAL CONDITION.-O! the 587 mUes of main line June 30, 1897, 24 miles were 80 lb. steel, 166 miles 70 lb., 386 miles 60 lb. 1l miles 56 lb. The branches (180 miles) were mostly 52·60 lb. steel. Trestles June 30, 1897, aggregated 5!:1,531 feet, wooden bridges 2,8 29, iron brid~es 7,974 feet on main line and branches. HISTORY, ETc.-Organized June, 1887. The lease to the Northern Paci:flc (see V. 51, p. 713), was canceled Sept. 25, 1893. V. 57, p. 548. SALE.-Decree of sale under the $12,000,000 mortgage of 1887 was -entered Dec. 27, 1897.-V. 66, p. 39. RECEIVERSHIP.-Sept. 27, 1893, H.F. Whitcomb and Howard Morris were appointed receivers. V. 57, p. 557; V. 60, p. 84. The constituent lines (Ch. Wis. & M. and Mil. & L. W.) now receive t he net earninJ;rs each of its own property, after deducting its proportion of all terminal, equipment and other expenses. (V. 64, p. 90:i.) rhe Chica.go Wisconsin & Minnesota, from Sohleisingerville to Chicago &NorthernPaci:floterminalsi.n CookCounty,Ill.,122miles,wasleasedm l)erpetuity. Rental 3712 per cent of gross earnings, less its propor• tton of terminal charges; but surplus over $350,000 divided eQually. Recei'oers' · ertiftcales-The certificates have b een extended to Nov. 15, 1898, at 5 p. c. V. 65, p. 1027. COUPONB.-Interest on Wis. Central Oompany 5s due July 1, 1894, ts in default. On Wisconsin & Minnesota first 7P, interest due April 0 8 1 1 :~ 3t'er~ii & ~i~og::sPnWEf!l~:aw~:ll::i 11aid. (V. 64, p. 844; V. 64, p. 713.) REORGANIZA.TION COMMITTEE.-In July, 1894, George Coppell, w. L. Bull, John erosby Brown, Fred. T. Gates, James C. Colgate and Gerald L. Hoyt, of New York, Rowland Haza.rd of Rhode Island, and Edwin H. Abbot of Boston. A. plan has been in preparation for some time.-See V. 62, p. 42, 139; V. 64, p. 713. Depositary, United States Trust Co., New York. In June, 1895, about $7.530,000 mortgage 5s and $1,150,000 incomes had been deposited. Improvement Bonds.-Committee: T. J eft'erson Coolid~e, Cha irma n, .A.mes Building, Boston; Charles tt. Batt, Na tional Security Bank, Boston, and Wm. Pratt Lyman, 4 Post Office Square, Boston. Depositaries, Farmers' L9an & Trust Co., N ew York, or Old Colony Trust Co., Boston. To Nov ., 1897, $3,035,000 bonds d eposited.-V. 65, p. 6:.'.2, 736,879. Stock and Incomes- Committe e conqi t s of F . R. H a rt, A.. H. H a rdy and I. W. Chick, all of Boston; depo sitaries , Ma nha tta n Trust, :N". Y . a nd old Colony Tru t , Bos ton.-V. 66, p. 136. STOCKS.~ Pref. (6 p. u. cum.), ~3,000,000; common, $12,000,000. Voting power on entire stock is held by Messr s . Colby, Hoyt and Abbot. BoNDs.-Thetotal issue of Wis. Cent. RR. consol.'mortgage, ttrstseries, bonds is $3,727,500, of which $1,522,000 in the liands of the public re· ceived interest regularly to J a n., 1898, and $2,205,500 are held by the Wis. Cent. Co.; on the se latter interest amount ing to $166,002 was due and unpaid June 30, 1897. The total issue of second series (incomes) is $5,314,500, oC which only $12,000 are in tbe hands of the public. The improi,ement bonds of 1891 (total authorized issue $12,000,000) are the ioint and several obligations of the Wisconsin Central Co. and Railroad Co. and a.re collaterally seoured by purchase money first-lien upon all property bought with their procejds. Interest on the im. provement bonds formerly met from income or the collateral: but November, 1897, coupons were not p a id.-V. 65, 879. A.s to reduction f rental pa.id Central Car Co. (whose stock forms the chief part of I ¼!a ~:t~ !ft~~::~r:t https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J. ..&.. J. & J. & J. & A.. & M.& M.& M.& J. --- ---·-·- ··-······· Nov., '96, coup. last pd. Out., '96, coup. last pd. Nov. '96, coup. last paid See text. Boston, 73 Tremont St. Boston, Merch. Nat. Bk. J. do do J. J. Jan., 1894, last paid. 0. No coupons paid. N. Ma y, ' 97, coup. last pd. 8. Bost ' n, Mer ch. Nat. Bk. s. do do . .... .......... M. & N. Owned by Company. J. & J. N. Y., Atlantic 'l'r. Co. A. & O. Providence, K I . J. J. .T. J. A.. & & & & J. Worcester, Office. J. Boston, Globe Nat. Bk. J. do do J. do do & o. do do . ... . Seo. T.&T. Co., York,Pa.. M. & 8. do do F. & A.. Last paid Feb. 1 , 1889. ··igi·:r l'-Tov. 16, 1898 Nov. 1, 190, ~r. 1, 1910 ay 1, 1915 Feb. 1, 1895 Sept. 1, 1906 Nov. 1, 1937 Jan. 1, 1909 .Tan. 1, 1909 .July 1, 1937 July 1, 1937 May 1, 1931 Moh. 1, 1916 Moh. 1, 1916 1897-1902 Oct. 31, 1899 .Tan. 1, 1945 Oct. 1, 1910 Jan.3,'98,2¾1% July 1, 190b Jan. 1, 1913 Jan. 1, 1930 Oct. 1. 1934. A.pr. 1, 1932 Sept 1, 1940 Feb. 1, 1916 said collateral) see V. 64, p. 844, 903. Full statement in V. 53, p. 22 757. The equipment notes of 1896 cover 1,000 cars. Ohicago Wisconsin & Minnesota Ry.-Capital stock is common, $1,· 040,000; preferred 6 p. c. cumulati ve, $1,560,000. First dividend on preferred was declared in Jan., 1896, bein~ 30 per cent, payable in Wisconsin Central & RR. improvement bonds of 1891, anrt covering a coumulated dividends toMaroh 1, 1891. V. 62, p. 185. In November 1895, the Cl!.. Wis. & Minn. income coupons which matured on or be• fore Sept. 1, 1895, were paid with interest thereon at 5 p. o. Sept., 1897, coupons were paid when due. V. 61, p. 924; V. 64, p. 903. LA.ND GRA.NT.-The Wisconsin Central Railroad had a land grant of 839,348 a.ores, of which on June 30, 1892, 579,550 a.ores remained unsold, and $98,948 la.nd contracts were outstanding . GENERAL FINA.NCEs.-Since the Wisconsin Central Company owns practically all the securities of the Wisconsin Central Railroad, the entire earnings of both companies go into the Wisconsin Company'• treasury, from them being paid the total charges of both companies. On June 30, 1897, interest amounting to $2,575,062 was overdue. Traffi,c.-Of the 2,561,990 tons carried in 1898-97, 34, per cent was iron ore, 20 per cent lumber and forest produots and 11 per cent ice; ton mile-rate, 0·873 of a cent. EA.RNINGS-3 months . ) 1897. . ..... Gross, $1,345,815; net, $599,855 July 1 to Sept. 30. ) 1896.....•. Gross, 1,201,608; net, 453,389 A.NNUll REPORT.-Receiver's report for 1896·97 was in V. 65, p. 776. Yea-rs ending June 301897. 1896. 1895. Gross earnings .................. $4,179,971 $4,399,511 $4,090,543 Net earnings .................... 1,405,775 1,391,194 1,303,115 Other income................... 62,175 324,444 5,040 Total net .••................. $1,467,950 Charges, payable by receivers. 1,566,561 $1,715,638 *1,809,932 $1,308,155 *1,459,959 --- Balance............... .. .... d ef.$98,611 def.$94,294 def. $151,804 "Company" balance .......... def.$260,212 def.$15,431 def. $269,617 "Railroad" balance ........... sur.$161,60t def.$78,863 sur. $117,813 ~ charges do not include interest on the Wisconsin Central Com• pany's ~st mortgage 5s of 1887 ($11,265,000 outstanding), and other bonds ID default.-(V. 66, p. 39, 84, 136.) Wisconsin & Michigan Ry.-Owns from Faithorn Junction, Mich., on Minneapolis St. Paul & Sault Ste. Marie Railway, to Peshtigo, Wisc., 49 miles, with branch, 5 miles. Opened for traffic Jan. 1, 1895. From Peshtigo cars are taken by Lake Michigan Car Ferry Transportation Co. to Chicago. E x t ension to Menominee is proposed, estimated to cost about $575,000; bonds are to be issued therefor. V. 66, p. 185. Mortgage trustee is Atlantic Trust Co. Stock author• ized and issued, $810,500; par value, $100; equipment trusts (Dec. 31, 1895), $101,096; locomotives, 6; cars, 337. Earnings for year ending Dec. 31, 1896, gi:oss, $971912; net, $22,404; interest, $45,500 ; _b al., deficit for Y!"ar, $23,0~6; ID 1895, gros!I, $84,148; net, $32,142. President, S. M. Fischer, Chicago, Ill.-V. 66, p. 185. Woonsocket & Pascoag RR.-0wns road from Woon@ooket, R. I., to Harrisville, 9 miles. Incorporated 1889. Leased to N. Y. & New England, but in July, 1896, tbe New England RR. purchased the entire capital stock-see V. 63, p. 698. Stock, $200,000; par, $100, Worcester N a shua & Rochester RR.-0wnsfrom Worcester via Nashua to Rochester, 94 miles. Leased for 50 yea.rs from Jan. 1, 1886, to the Boston & Maine; rental $250,000 and taxes. DIVIDENDS- l 1887-93. ' 94. '95. '96. '97. '98. P e r cent ...... . 5 6 yearly 5 5 5 5 Jan.,21g Tot al profit and loss deficit June 30, 1896, $453,928. Loans and bills paya ble June 30, 1896, $180,000 -V. 60, p. 749. York Southern RR.-RoAD.-York to Delta and South Delta., 37 miles (standard gauge), witb. branch from Delta to P~ach Bottom, Penn., 4 miles (g:auge 3 ft.). Successor in 1894 pf Baltimore & Lehigh RR. in Penna.; smce made standard gauge. Has close traffic relations with the Pennsylvania RR. system. STOCK AND BONDS. -Capital s tock is $600,000 (par $50). York and Peach Bottom, Series "A'' bonds are for $47,500, interest A.. & O.; Series "B" bonds are for $202,450, interest M. & N. Car trusts Aug. 31, 1897, $10,145 of 6 per cents, due in monthly instalments. EARNINGS.-5 months, l 1897 ..... . ...... Gross, $33,338; net, $13,584 July 1 to Nov. 30. 51896 ...•........ Gross, 32,911; net, 15,064 For year en~ng June 30~ 1897, gross earnings, $6~, ~37; net, $25,405. In 1~95·6, gr oss, $66,267, n et, $19,657.-V. 62, p. 2 ,9, 987. Zanesville & Ohio River Ry.-Owns from Zanesville, O., to Harmar, on the Ohio River, opposite Marietta, about 80 miles, including branches, 3 miles. In Aug., 1889,interest was defaulted and foreclosure suit was brought. Bee V. 50,p. 140. On July 19, 1892, J. Hope Sutor was made receiver. See V. 55, p. 147. Stock, $2,000,000. Total funded debt June 30, 1895, $2,000,000; equipment obliga.tl.>os, $113,034; receiver's certi:flca.tes, $21,000; current liabilities, :,;777,895. In year ending June 30, 1897, gross, $124,344 ; net, $19,234 ; taxes, $4,942; no inter est p a id. In 1895-6, ~oss $126,453; net, $19,301; taxes, $4,415; "interest on certificates, ' $948; balance, aurplus, $13,938; no interest paid on bonds. In 1894-95 gross, $117,722; net, $14,021.(V. 63, p. 556.) MISCELLANEOUS COMPANIES. The following pages (Nos. 146 to 157, both inclusive) contain the leading industrial companies. Some additional statements will be found on pages 158 and 159, while various gas companies not included in either place are on page 160. Full reports of New York and Brooklyn Trust Companies will be found in the CHRONICLE of Janua1y 29, 1898. MISCELLANEOUS. For explanation of column headings, &c., see notes on first page of tables. Bonds-Prlncf INTEREST OR DIVIDENDS. Date Size, or When Due. Amount Rate Per When Where Payable, and by pal, Par of Stocks-Last Outstanding Bonds Value. Dividend. Whom. Cent. Payable --- - -$100 $12,000,000 .Adams Ezpress-Stock ........................•...•..•...... ·--· .Albermarle cl Ohes~eake Oanal-Mortgage U ........... 1879 .American Bell Tele'f ne-Stock,$50,000,000, auth. by law 1,000 500,000 100 26,015,000 2,000,000 Debentures, su~ect to call at 110 ..•.....••....••.... c&r 1888 500 &c. 25 .Amencan OoaL ( aryland)-Stock .............•........... 1,500,000 100 20,237,100 .American Ootton Oil-Common stock (see V. 54, 761) ... 100 10,198,600 Pref. stock 6 per cent non•cum., sub. to call a 105 ..... 1,000 3,068,000 Debentures for $5,000,000, subject to call at 110,gold.c' isoo 100 3,844,700 .American District Teleg.-Btock, $4,000,000 authorized... 100 18,000,000 .American Express-Stock ..................•...•............ .... pref.) cum. 5 7% is 10,000,000 American .Fishen.es-Stock ($2,000,000 .... 26,250,000 !!:!~!~l~:~-,J~~~a~~2:i~~gn< i i c t ~: :.~~~:·. ~~~:~ 1,250,000 100 1,250,000 First referred, 6 per cent cumulative ................... ··-· 100 Becon preferred, 8 per cent cumulative ................. .... 1,250,000 100 28,000,000 .American Spit-its Manuf.-Common stock, $28,000,000 .. ...... 100 Pref. stock, non•cum. "preference limited to 5 p. c. div." ---7,000,000 1,000 1st M ., $2,000,000 f!., subj. to call at 105, s.f., 5%, 'Tla.c* 1895 2,000,000 .......... Amer.Steel ct Wire Stock$ 7,000,000,$30,000,000pf.7% ..... 1,000 American Strawboardr-lst M., gold, call after Feb .. 1901. 1891 889,499 100 36,968,000 American Sugar Refining-Common stock, $37,500,000 .. 100 36,968,000 c. cum. (see ed. in May,'93, SUP.) ....... Prer. stock, 7 1,000 ........... 1st mort~afee or $10,000,000, none ist1ued to Dec., '96 100 14,000,000 .American e egraph cl Oable-Stock, 5 per cent rental. ... 50 17,900,000 American Tobacco Oo.-Com. stock, $21,000,000 auth . ... 100 11,935,000 Pref. stock, 8 p.c. non·cum.: pref. as to assets and divs .. Dividend scrip Jan.1, 1897 ($L82.000 is pref. scrip) . ... 3,762,000 f" ·--------- ---·------ E· ---· ---· ---· ------· ---· ---- ··ioo ------ ·--- - 8 in 1897 7 15 in '97 7 8 in J.897 Q.-M. J. & J. Q.-J. F. & A. M.& 8. J:·&·:o. New York, 59 Broadw'y N. Y., Union Trust Co . Boston, Comp'y's Office. do do N. Y., Office, 1 B'dway. Winsiow: Dec. 1, '97, 2% July 1, 1901) Jan l!;'l:184½1% Aug. 1, 1898 Sept. 1,'97, 4% 61n·is·91 ·L. & Co. N. Y., 8 g. Q.-F. do do See text. N. Y., Office, 8 Dey St. 6 in 1897 .T...&.. J . N.Y.,Co.'s Of., 65 B'way Dec: "i," ;97: 3% Nov. 1, 1900 N'v.16, '97, 1%, Jan. 3, '98, 3% !Noziel J ani·5,-98 ·i &i Nv.4,'96, 1¾62 Nv.4,'96, 112~ Nov. 4, '96, 2% ....... Q.--J.-i5 N. Y., Office, 80 B'way. Q.-F. See text Q.-F. do Q.-F. 1Jo1. do York . New . ... -..... ····do 6 g. M:·&·· 8. do ------ ------ 6 ~12 in '97 7 in 1897 6 . 5 9ml897 8 in 1897 6 ..... ..... Q.-J. See text J. & J. ~.-M. .-F. Q.-F. M. & N. 2': . ....... 1; iim. Feb: i,""fan Sept: 0 Boston,"iiiternat Tr.Co. N. Y.Ottice, 117Wal1St. Jan. 3, '98, 3%Jan. 3, 1898 do do N. Y., Central Trust Co. Jan., 1911 N. Y., West. Union Tel. Dec., '97, 1146J N.Y.,Farm.L.&Tr.Co.Feb.2,·98,262° Feb. 2, '98, 2 ¾> do do Nov.1,'97,3o/odo do Acetylene.-Manufactured under a process patented by the United I American Soda Fountatn.-See page 15 . . States Aoetylene Liquefaction Company. The gas can be stored in Amer~can Spirits ManuCacturlng.-ORGANIZATION.- Incortanks, and thus easily transported without the use of street mains. It can be combined with ordinary gas-see Electro Gas item v. 61, p. P<?ra_te~ m New York ~ugust 22, 1895, and p~chased the best of the D1st111ing & (?attle Fe~d1:Ilg I?roperty, per plwn, m V. 60, p. 480; y. 64,. no7, and New York Carbide & Acetylene item v. 61, p. 1155. p. 81. The sixteen distilleries held are as follows: (1) Owned in fee A.lbermarle & Chesapeake <'anal.-:-Owns ca~al petwee~ (both land. buildings, etc.), Central of St. Louis, Riverdale and Shu• Chesapeake Bay !),n_d Albermarle S?und, 14 m1es. Stock ~s $.>?8, 2 00, feldt of Chicago, St. Paul of South St. Paul, Star & Crescent of Pekin, ($100_s~ares.) Dividends m 1893, 94, 95 and 96 each~aid $l 50 pe~ Ill., Woolner (2) of Peoria, ill. (2) Land half owned, half leased, . hare, m 1897, none. For year 1896·97 gross, $79,70~, net, $47 , 27 8, Latonia of Milldale, Ky., (3) Buildings, machinery, etc., owned, but mterest on bonds, $35,000. In 1895·96 gross, $83, 2 84, net, $ 55 ,702 , I.rinds held under lease; Great Wt}stern, Manhattan, Monarch. Northern American Hell Telephone Co.-On December 20, 1897, the Peoria, all of Peoria, Ill.; W 1Lbash of Terre Haute, Ind., Maddux, company had 920,693 instruments in use in hands of licensees, Barker of Cincinnati, Hamburg of Pekin. In July, 1896, the daily against 772,607 in 1896. 0~ Jan. 1, 1897, there were 536,859 miles of capacity of the above plants was stated to be 47,400 bushels,. wire, against 459,728 miles m 1896; number of stations was 325,720, which would produce 228,000 gallons of distilled spirits. See v. 63,. , against 281,695 in 18_96. The Ame:r:ican Tele13hone & Telegraph Co. p. 152. See Spirits Distributing statement in this SUPPLE~IENT. controls the long distance lines; its capital stock is $20,000,000, increased from $12,000,000 in June, 1896. V. 62, p. 1176. STOCK. - On New York Stock Exchange $27,765,520 common and Decision sustainiJZg validity of Berliner patent-see V. 64, p. 950. $6,941,380 preferred had been listed to Jan. 17, 1898. STOCK.-In 1897, stock increased ($2,365,000) to $26,015,000. BALANCE SHEET.-The balance sh~t May 31, 1896, was: '98. 5 1888·91. '92. '93. '94. '95. '96. '97. DIVIDENDS$14,800 15 Below. Properties at cost ..... $36,330,372 Accounts payable ..... 15 _15 18 1612 15 ~ 18 y'rly. Per cent. 75,683 Bills payable .....•...• 250,000 Bills receivable....... In 1898, Jan., 41g p. c., of which 119 was extra. 105,000 830,890 Realestatemort.notes ANNUAL REPORT.-For 1896, with balance sheet in V. 64, p. 661 797. Accounts receivable.. Advances by rec'r D. In~rer;,~ in Spirits Dis• 1893. ' 1894. 1895. 1896. Year endling Dec. 31. 180,187 & C. F. (contmgent). 175,900 ~1):>u~mg Co......... Total gross earnings ..•.. $5,547,429 $5,124,952 $4,848,244 $5,781,076 39,197 Accrued charges...... 172,603 process..... Spir1ts_m 3,925,485 3,123,785 3,213,759 Sur. over interest, ch'ges 3,383,581 22,8251 First mortl{age bonds. 2,000,000 Paid dividends........... 3,361,233 3,132,453 3,300,000 3,'339,156 Unexpired msurance. 128,038 , Capital stock.......... 35,000,000 Cash - . . . . . . . . . . . . . . . . . . OFFIOE.-Boston, Mass.-(V, 64, p. 797' 950, 1040; V. 66, p. 182.) 256 ,461 109 •334 1 Surplus .......... ······ nd A..m.erlcan Ooal.-Coal mines at Barton and Lonaconing, Mary• Cash held forbo s ..._ Total liabilities ..... $37,845,645 Total assets ......... $37,845,645 land. Dividends 1894, 612 p. c.; in 1895, 7 p. c.; in 1896, 8 p. c.; in DntECTORs.-8. M. Rice, Jules 8. Bache, T. H. Wentworth, F. M. Lock1897, Mar., 4 p. c.; Sept., 4 p. c. N. Y. office, No. 1 Broadway. A..m.erlcan Cotton Oll.-ORG.A.NIZATION.-Incorpora~d Oct. 12, wood, Henry 8. Kearney, Nathan Bijur and Stephen D. Bayer, of New 1889, under the_ la'!s of New Jerse_y, ~ succeed the Amerwan 9otton York City: William E. Hutton, of Cincinnati: Edward s. Easton and Oil Tr~st, of which it was a reorgamz~tion. Owns 74 ~rude_ oil mills, 14 Walt-er Rarker, of Peoria, ill. Officers: President, s. M. Rice; Vicereftneries, 4 lard plants, 9 soap factories, 14 cotton gmnenes, 3 cotton President, Jules 8. Bache; Secretary and Treasurer, T. H. Wentworth, compressors and 5 fertilizer factories; in all 123 properties; Aug. 31, Office, Mills Building, N. Y. (V. 63, p. 29, 115, 152; v. 64, p. 81.) 1897, 19 of the properties were dormant and 24 dismantled. American Steel & Wlre.-Forming in January, 1898, to conCAPITAL STOCK.-Common authorized, $20,237,100; prererred, $14,• solidate the leading wire and steel rod manufactories in the United 562,300. See pref. certificate in editorial of May, 1893, SUPPLEMENT. States. The proposed capital is $30,000,000 of 7 per cent preferred DIVIDENDS.-Preferred stock from June, 1892, to Dec., 1897, both and $57,000,000 common. The incorporators, it is said, will be Col. inclusive, paid 6 per cent per annum (3 p. c. semi•annually). Isaac L. Elwood, Attorney Gary, John W. Gates, Colonel John Lam• DEBENTURES.-No mortgage lien can be created without the written bert of Joliet, and two others to be selected by J. Pierpont Morgan & of New York. V. 65, p. 1172, 1218. Co. for bonds debentures; consent of the holders of 80 per cent of the American Stra-w Board.-Stock, $6,000,000; par, $100. Se& $932,000 were canceled in 1891 to l895. V. 6 2 , p. 8 67 , REPORT.-Year ends August 31. Annual meeting first Thursday of page 158. December. Report for 1896·97 at length in V. 65, p. 975, 983. American Sugar Keflnlng.-This New Jersey corporation beFor the year ending Aug. 31, 1897, the profits of the whole business were $1,542,673 less expenses of administration, interest on bonds, &c., came in Jan., 1891, the owner of all the property theretofore belonging $527,593; balance, net income, $1,015,080; dividends paid, $611,916; liO the Sugar Refl.neries Co. originally organized in 1887. See reorgan• bal., surplus for year, $'.l03,164, against deficit of $277,117 in 1895-96. ization plan, V. 51, p. 609. Capital stock, originally $50,000,000i Profits: Year 1892·93, $1J.800,040; in 1893·94, $1,428,152; in 1894·95, was increased in Jan., 1892, to $75,000,000, to acquire the capita stock or the four Philadelphia refl.nerie11 and a controlling interest in $1,565,862; in 1895-96, ;i,886,431; in 1896·97, $1,542,673. DmECTORS.-(Elected December, 1897) Edward D. Adams, J. Rogers the Baltimore refl.nery. Spreckels's refinery in California is under a lease for ten years to the "Western Sugar Refl.ning Co.," of which R d Ch 1 L • ar es amer, · F. the "trust" owns one•hatl the stock. Beet-sugar interest acquired Maxwell, Charles F. Clark, James A. Garlan , Munro, George A. Morrison, R. T. Wilson, E. Urquhart, J. Kennedy in April, 1897, see V. 64, p. 841; coffee plants, V. 63, p. 1157; V. 64, Tod, William Barbour, all of New York City; J. F. Chamberlin, p. 40 .) In February, 1897, officially stated to supply about 77 per cent. M. Frank, Jor;,eph Larocque, John H. Maxon; President, G. A. Morrison; Sec. and Treail., Justus E. Ralph. Office, 46 Cedar St., N. Y.-(V. (1,330,000 tons) of the ontput of refl.ned sugar in the United States, as against 90 per cent formerly.-V. 64, p. 328. See also V. 65, p. 65, p. 9'75, 983.) 1069. Am.erlcan District Telegraph.-See page 158. STOCK.-Stock authorized is $75,000,000, of which half preferred. American Electric Heatlng.-Seethis SUPPLEMENT.page 158. '98. DIVIDENDS.-P. ct.} '91. '92. '93. '94. '95. '96. '97. A. merlcan Express.-An "Association" formed under the laws 12 Below. 12 12 12 4 1012 21½ Common . ...... of New York State in 1859 and 1868. Not an incorporated company. 7 p. c. yearly to date; part Q.-J., part J &J. .. Preferred. Dividends, 6 p. c. per ann. since 1882. President, J. C. Fargo, N. Y., In 1898 , common, Jan., 3 p. c. Treas., Charles G. Clai'k. Office 65 B'way, N.Y. City. (V. 56,p. 500, 578.) A.merfcan Fisheries Co.-Incorporated at Trenton, N. J. Jan. 8, REPORT.-No recent report has bf'en made. For remarks at annual Coast. Atlantic 1898, to consolidate the menhaden oil factories on tb~ -See V. 66, p. 132. Capital stock $8,000,000 common and $2,000,000 meeting in January, 1898, see V. 66, p. 132. Dec. 31, '94. Dec. 31, 95. Dec. 31, '96. BA.LANCE SHEETpreferred. Value of the product is from $1,000,000 to $2,000,000 a $43,119,866 $43,140,709 year. Presidf'nt, Charles J. Canda; General Mana~er, N. B. Church Real esliate and machinery. $43.140,770 19,428,000 24,674,293 153 Maiden Lane, N. Y.-See CHRONICLE, Jan. 29,'98; v. 66, p. 80,132'. Cash aud debts receivahle. 21,778,447 , 5,607,563 6,287,232 6,6ll:i,003 Improvement account...... 25,692,000 Investm'ts in other com p's. :l~,2:H,435 American Grocery•-S ee page 158 · 26,201,599 12,462.777 10,742.456 A.m.erican Maltine- Co.-Incorporated in Sept., 1897, in New Jer· Sugar, raw and retined... .. 13,864,207 sey to consolidate about twenty malting propert1e11-see V. 65, p. 619. Total assets ......•...... $113,652,862 $112,257.021 $105,099,484 STOCKS.-The company is authorized to i sue $15,000,000 7 per cent enmulative !?referred stuck and a like amount of common. October 1, Capital stock .............. , $73,936,000 $73,936,000 $73,936,000 1897, were m treasury $2,500,00U pr,..ferred and $1,250,000 common Debts........................ 27,530,942 21,394,000 25,139,765 stock, together with $t,OOO,OOO of cash working capital. Diridends- Reserves.................... 12,185,920 9,769,484 13,181,256 On pref. paid first dividend of 1~ p. t·. in Ja,n., 1898.-V. 65, p. 1218. OFFICERS.-President, A. M. Curtis ; Fir t Vice·PreRt.and General Total liabilities ......... $113,652,862 $112,257,021 $105,099,484 Man., C. A. Purcell; Sec'y, John J. Treacy; Treas. E. R. Chapman. Chargeable to the "reserves," reducing them to $5,567,917 in 1896. BOARD OF DIRECTORS. DIRECTORS.-H. 0. mvemeyer, Chas. H. Senff, F. O. MatthiesseIJ, C. A. Purcell, T. L. Han en, A. C. Zinn, A. M. CurtiRs, Searles. Wm. Dick, W. B. Thomas, John E. Parsons. Treasurer, J.E. eschler, W D. D. Obas. Sohn1:n-n, C~ A. ~tacuer, C. M. Warner, Seymour Scott, R. Nunnemacher, E. R. Chapman. -v. 65,p.1218. John E. Searles. N. Y., office, 117 Wall Street. (V. 66, p. 132.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, MISCELLANEOUS STOCKS AND BONDS. un,8.] Sub ■ crlbers 147 w-Ul conf'er a 1rreat favor by giving immediate notice of any error discovered In the ■e Table•. Bonds- Prlncl INTEREST OR DIVIDENDS. MISCELLANEOUS. Date Blze,or pal,When Due. Amount Par Outstanding Rate Per When Where Payable, and by Stocks-Last For explanation of column headings, &o., see notes on of Bonds Value. Cent. Payable Whom. first page of tables. Dividend. ----$201,300 6 g. M.&N. N.Y., Mercantile Tr.Co. American Type Founders-Debentures,$1,000,000, gold.o• 1896 1926 1,000,000 $100 ........ ......... From DaiJon by check. June 15, 1893 Bar::, ti Smith Oar-Common stocx .....••.........•..... ·--· 2,500,000 100 2 p. o. pa d Mar. 1, '95. Mar. 1, 1895 o. cum., pref. as to dividends only ...... Pre . stock. .. 6 ... J.'.&.. J . 1,000 1,000,000 New York. 1st mort., gol , subject to call at 110 after July 1, 1902.. i892 July 1, 1942 5 g. J. & J. N.Y.,Mercl. Tr.&Lond. Jan. 1, 1939 Bay State Gas-Boston Un. Gas 1st M.,s.f.,call at 105,g.c• 1889 500 &o. 9,000,000 1,000 3,000,000 5 g. J. & J. do 2d M., gold ($4,000,000) .••......... do do do Jan. 1, 1939 1,000 2,000,000 M.& N. do 7 Bay State Gas incomes .................................... do 1899 312g. Text. Boston, 18 Summer St. Aug. 1, 1898 Boston Terminal Oo -1st mol't~age, gold, short term .c&r i896 1,000&o } 9,000,000 Text. Long term bonds, 1st mortgage, currency.. o&r 1897 1,000&0 312 do Feb. 1, 1947 100 15,000,000 6in 1897 J. & D. B'klyn, 1.80 Remsen St. D6o. 1,'97, 3% Brooklyn Union Gas-Stock, $15,000,000 ......•........•. 1,000 13,081,000 5 g. M.& N. B'klyn, People's Trust. May 1, 1945 1st con., $15,000,000, g.(for underlyinfl bonds see text) i895 2,500,000 6in 1897 Mar. I N. Y., Off., 68 Broad. St. Mar.1,'97,6% Brooklyn Wharf ct W. Oo.-Preferred "A' 6 p. c., cum .•.. .... 5,000,000 6 Preferred" B" 6 per cent, cumulative ................... 17,500,000 5 g. F. & A. N. Y., U. S. Mort. & Tr. Feb:· ·i945 1st M., old,$17,500,000 ............•...........•.. c•&r i895 1,000 5,250,000 5 g. A. & 0. New York City. Buffalo ity Gas Oo.-lst M. [Col. Tr.] red. at 115, N.g.c* 1897 Oct. 1, 1947 50 7,974,550 4inl897 A. & 0. Philadelphia. Cambria Iror,-Stock............. . . . . . ••••............... Oct. I, '97, 2% 1,000 2,000,000 6 g. J. & J. do Bonds, $2,500,000, g., red. at 102 after July 1, 1902•.. . o* i897 do Julv 1, 1917 100 1,500,000 Aug. 15 Kan. City, Co.'s office. Aug. 15, 1896 5 Oe-ntral Ooal ct Ooke-Preferred stock, cum., 5 p. c ....... 500 560,000 6 g. Q.-F. N.Y.,ChaseNat.Bank. May 1, 1900 Keith & Perr~ gold M., s. f., $40,000 yearly .............. is9o 100 7,917,600 Oentral ti Sou h .A.merican Tetegrap/1,-Stook $8,000,000 .. Q.-J. N. Y., Office, 37 Wall St. Ju. 6, '98,112% 7 2,602,950 See text. J. & J. See text. Ohuapeake <I ~laware Oanal-lst M. (extended in 1886)r isss 500, &c. July 1, 1916 &o. 500, 1885 782,000 o .. gold & J. July,'94, coup. last paid Jan. 1, 1915 J. g. 6 for$1,000,000, Oh~ago cl .A.tchi~onBridge-lstM. 142,750 J. & D. June,'94,' coup. last pd. 7 2d n..ortgage .......................•..............•........ 1875 1895 6,500,000 8 in 1897 J. & J. N. Y., Office, 40 Wall St. Jan. 3, '98, 4% 011.icazo Junction Raitways ct Union Stock Yards-Stock .. 100 6,500,000 6 in 1897 Q.-J. do do Pre erred, 6 per cent cumulative, pref. also as to assets. Jan.3,'98,1¼% 1,000 10,000,000 5 g. J. & J. N.Y., Cent. Tr.; London. July 1, 1915 Collateral trust bonds, gold,$ or£ .................... o• is9o 1,000 2,741,000 Income bonds, 5 p. ct., non-cum,. subj. to call.at par .. c* 1892 J. & J. N. Y.,Offlce,40Wall St. July 1, 1907 5 --- ------ Bl.. ---· I ----·· i:ooo 5 ---· 1; ··ioo I A.m.erlcan Tele"raph & Oable.-Owns two cables between Nova 1927. In July, 1896, President McIntyre purchased for $1,500,000 the Robinson Stores, etc. See V. 63, p. 115, 701. Scotia and England. Leased to Western Union-which see. 8Toc1c.-Capital stock (par, $100); common, $5,000,000; prfd., series A.m.erlcan Tobacco Company.-Organized in 1890 under laws A, $2,500.000; prfd., series B, $5,000,000. Preferred stocks "A" and of New JRrsAy to manufacture and sell tobaoeo.-See V. 64, p. 515. STOCK.-Preterred is S per cent, non•cumulative, and has preference "B" are 6 p. o. cumulative, but carry no right to vote. No dividends also as t,o "assets" in case of liquidation. See pref. certificate in on common till a surplus of $500,000 shall have been accumulated. DCVIDE!iDS.-Ori preferred" A" in 1896 6 p. o · 1897 March 6 p c edit.orial of May, 1893, SUPPLF.MFlN'l'.. ~ref. stook f$l4.000.000 au thor· · • • . ·• • . _ ized] was listed in ~ept., 1890; application in full m V. 60, P: 838. B0!iDS. U. 8. Mort. & Tr. Co. 1s trustee. V. 59, p. 1006, V. 60, p.176. The dividend scrip issued .May 1, 1896, fot 2 , p. o . .aorip dividend on given wa,;i 1897, 31, Jan. ending year for REE'uRT,-Report A.!i!iUAL stock common stock, "is payable in o~sh, or convertible into the co~. of the company at par, at the option of the company." The scrip bears ln V. 64, p. 42 L; gross, $1,8:S9, L90; net, $1,010,756; interest, $837,lnterest at 6 p. o., payat>le "only out of the net earnings of the company 500; balance. surplus for year, $173,256. In 1895·96: Gross, $1,675,· 687; net- earnin~s. $1,021,167. Surplus Jan. 31, 1897, $221,481, left after the annual paymem1i of 8 p. c. dividend on the pref. stook." against $221,167 Jan. 31, 1896. 1897. 1896. 1891 to 1895. DIVIDENDS.OFFCCERS.-Thomas A. McIntyre. President; David Dows, Jr., First f! 6% & 20% scrip. Common .••...•••• 12% yearly. Vice-Pres.; 2d Vice•Pres. and Treas., William A. Nash; Samuel Taylor, Preferred ...•.•.... 8% yearly (2% qua.r.) to Nov., 1897, inclusive. Jr.. Secretary. (V. 64, p. 421; V. 65, p. 366.) Dividends on common were in 1896 and 1897 as follows: Hrnnswlck Company.-See page H~8. 1896 .. Feb., none; May, 2 p. o. (and l:!O scrip); Aug., none; Nov., 4. p. c. Hn.ff'lllo City Gas.-A N. Y. corporation, organized in November, 1897 .. Feb., 3 p. c.; May, 2 p. o.; Aug., 2 p. 0 ; Nov., 2 p. o. ANNUAL REPORT for year ending Dec. 31, 1896, was in V. 64, p. 9-19: 1897, as a consolidation of all the gas companies of Buff'a.lo, N. Y., exDi1J. on Oom. Int.on scrip. Surplus. oept t~e Queen Clty Gas Light Co. Capital sto<?k ,$7,000,000 (PIH' $100); 12 Mos. Net Earns. Div. on Pref. 1396... $3,593,197 $969,360 ( 9%1$1,6l6,460 $143,200 $864,177 lstM. is for $7,000,000. Pres., Emerson McMillin, N. Y.-V. 66, p.183. Calnmet & Hecla Mlnlng.-See report, 1896-97.-V. 65, p. 233. . .•. . .•• 1,402,081 958,440 ( 9%) 1,611,000 1895 •... 3,971,521 Cambria lron.-See this SUPPLEMENT, p. 158. · .... · .• 1 ,966 , 616 1894.... 5,069,416 954,800 (12%) 2,148,000 Canton Oompany.-See SUPPLEMENT, April, 1898. Genera.I balance sheet of Dec. 31, 1896, showed: Central Coal & Coke Co of Kansas City .Mo -see page Ui6 St;ook and scrip .. ·•·• .$33, 59 7,000 Beal estate, plant, pa• , • 779,340 tents, trademks, &c .. $36,160,854 Div. payableFeb. l '95 Oentral & Son th A.merlcan Telegrap!J..-Owns cable line from 243,705 Stooks in foreign co's. 1,267,018 Accounts payable, etc. 457,196 Vera Cruz, Mexico, to Valparaiso, Cmll, 4,7o0 miles, and land lines Ca.sh .. ·-······......... 1,84.3,263 Commissions payable. 191,924. 350 miles, etc. Also the Trans-Andina telegraph lines, 1,200 miles, Advertising fund...... Bills and accounts re• ceiva.ble...... .•.•.•. 1,882,579 Surplus................ 5,884,549 ourohasen in 1891, and connecting Val"para.iso with Buenos Ayres. Oonneots at Vera Cruz with Mexican Telegvaph Co., and owns an inlierTotal liabllities ...... $41,153,714 est in cable betwe~n Galveston and Coatzacoaloos, 825 miles, etc. Total assets .••.••.. $41,153,714 In 1895 the Pao1fl.c Cable Company was organized to lay a cable be• DmECTORS.-Herman Ellis, T. F. Jeffries, George Arents, James B. tween San Francisco and Japan and China etc (V 61 p 1065) · , · · • . · Duke, Benjamin N. Duke, George W. Watts, W. H. Butler, James G. DcvcoE!iDS.-In 1885 and 1886,_4peroent; m 1887, 6 per cent; from Josiah Schmeisser, Butler, John Doerhoeffer, J. B. Cobb, Ernst Browne; Pres., James B. Duke; Seo., Josiah Browne; Treas., Geo. 1888 to July, 1897, botl!, inclusive, at rate of 7 p. o. per annum, payable quarterly; but m Oct., '97, ~nly 112 p_. ~- V. 65, p. 666; in A:rentis. N. Y. office, 527 West ~2d St. V. 64, p. 515, 663, 9-l9, 950. e Founders Co.-See this SUPPLEMENT, p. 158. 1898 • Jan., 112 p. 0· In Ma.r~h, 1890, pa.id sto ok dividend of 20 per cent A.m.erfoan T Ei\.RN"C!iGS.-For year endmg Deo. 31, 1896, gross, $922,628; net, YP $562,812: dividends (7 per oent1, $ iH0.792: balanoe, surplus for A.m.erlcan Water Works (Omaha).-V. 63, P• 2 8, 7 5, 115 • year, $22,020. In 1895, gross. $390,597, net, $56~,325. Office, 37 Atlas Tack.-,i,See this SUPPLEMENT, page 158. Wall St., N. Y.-(V. 62, p. 682; V. 65, p. 666.) Hay State Gas Co.-Stook, $50,000,000; par, $50. See p.158. Oentral Union l'elephone.-See this SUPPLElUNT, p. 158. Ba.rney & Smith Car.-Incoroorated in 1892 uni.er laws of West Chesapeake & Delaware Canal.-See this SUPPLEME!iT, p.158. Virginia to sncoeed a com9auy esta.blisbed in 1819 at Dayton, 0. Stock and bonds listed in New York January. 1893. Dividends on Chicago & A.tchlson flrldge.-See this SUPPLEMENT, p, 158. common, in 1893, 5 p. o.; on pref. 8 p. c. till March, 1895; since, none. Ohlcago Gas.-See People's Gas Light & Coke Co. Hoston Terminal Co.-Incorporated in June, 1896, to build in Chicago .Jnnctlon Railways & Union oitock Yards.-OR· Boston a Southern Union Depot. The Boston & Albany, New En~land GANIZA.TION.-This .sompany,inoorporatedin 1890 under the laws of New Boston & Providence, Old Colony and N. Y. N. H. ll Hartford RR. Cos. has purchased 98 per cent of the st.ock of the Union Stock Ya.rd ea.oh owns one·tl.tth of the $,500,000 capital stock and will pay as rental Jersey, of C_hioago. ';('he property thus controlled consists Company Transit & in monthly instalments sums sufficient to pay all expenses, 01:J.arges, 470 acres of land (with one mile of water front) containing in Decinterest on bonds and 4 per oenti on stock. Tnese companies are of sheds and pens to accommodate 75,000 warehouses, 1896, ember, jointly liable for any deficiency i::i oa-1e or foreclosure. The mort300,000 hogs, etc.; also 245 miles of rail way ·and sidin~s, ga,ge of 1896 provides ti.lat bonds "may from time to time be issued to head of cattle, Line Ry., and connecting with Indiana & Chicago the including the a.mount necessary to J?rovide means to enable tile company to all the railroads enterin11 the city.State August, 1897, was purchased a carry out the purposes or its charter", at not ex:oeeding 4 p. c. interest; controlling interest In the Chicago In & Western RR., which Hammond mortgage trustee ls Old Colony Trust of Boston; reg. in1,. payable Q.-F.; will presently, with all the other railroad lines, be operated by the Chio. coupons F. & A. The Bllort-term bonds a.re beio~ ex:ollan~ed for 3 ½Is & Ind. Statie Line Ry. and stock yard business kept sepa.rate.-See V. due 1947. In January, 1898, application was made to RR. Commls· 65, p. 411; V. 66, p. 81. construction, for ½ls 3 additional $3,000,000 sion for authority to issue AGREEME!iT WITH p ACKERS.-Under a fifteen-year agreement dating making total to date $12,000,000.-(V. 64, p. 1223; V. 66, p. 183.) crom July 1, 1891, the Cl:J.icago packers, Messrs. Armour, Morris and Brooklyn Union •.-as.-Inoorporated in New York State Sept. Swift, and others, guarantee to give this company the business of pa.ck• seven the of consolidation A. electricity. and 8, 1895, to supply gas all live stock slaughtered by them within 200 miles of Chicago. gas companies of Brooklyn, namely: Brooklyn Gas Light, Metropoli· Ing 54, p. 328, 923; V. 55, p. 99, 297. V. Bee L., G. Nassau L., G. Williamsburg tan G. L., Fulton Municipal Gas, DIVIDE!iDS.-On preferred, 6 pe~ cent. yearly to date. On common Citizens' and People's Gas Light companies. See plan V. 61, p. 831, and 10; 1892, to Jan. 3, 1898, molus1ve, 8 p. c. yearly. 1891, ill 1141. 62,p. V. in Exchange full t11tatement in June, 1896, to N. Y. Stook The entire capital stocks of the Jamaica G L and Woodl:laven G. L. BONDS.-'.rhe collateral trust bonds are secured t>y deposit with the ~97. 1 July, in companies (no bonds issued} were acquired for ca.sh CentrM Trust Company, trustee, of over 90 per cent Jf the stock of the Oontract.-Under five-mar oontra.oti with city in 1897, city receives Union StoolC Yard Transit Company. The $3,000,000 McamM carry gas at $1 per 1,000 cubic feet ror first year, and redu,Jtiou of 2 cents Interest after payment of intere ton the collateral trust bonds and the per 1,000 each year, paying 90 cents the last year. Private coosumers 6 per cent dividend on the preferred stock. See V. 54, p. 328. IN· begin at $1 20, with reduction of 5 cents yearly, to $1.-V. 64, p. 887. COMES.-Ooupans paid-January, 1894, to Jan., 1898, inclusive. DIVIDENDS.-In 1896, 6 per cent; in 1897, 6 per cent. A!i!iUAL REl'0RT.-Fisoal year changed in 1897 to end Dec. 31, aud annual meeting to second Thursday m February. Statement for year Bo!iDS.-Mortgage of 1895 is for $L5,000,000 of bonds, subject to: was in V. 66, p. 8 L, ihowiug receipts or live took 14,761,556 1897 Maturity. Interest. Outstanding. Bonds. Feb. 1, 1940 head, against 14,12::J,293 head in 1896. Report 1895-96, V. 63, p. 878. $390,000 Cltizens' Gas, consol. mort... 5% F. & A.. 1893-9!. 1894-95. 189 >-96. Year en1ting Ju,ne 30Jan. 1, 1920 2.t.1,000 Union Gas Light oonsol.... •• 5% J. & J. Jan. 1, 1900 Dividends of U.S. Y. Co., &o•...... ill,701,509 $1,700,49-1 $1,733,005 197,000 Fulton Muniolpal Gas, 1st M. 6% J. & J. 21,835 79,894 23,620 Apr. 1, 1898 Bala.nee previous year...... . ...... 150,000 Metropol. Gas L., 1st m. .. .... 5% A.& jO. 120,921 115,74.3 70,932 Apr. 1, 1900 Genera.I expenses, rents, &o.. .....• 939,000 Wlllia111sb. G. L., 1st mort. ••• 6% A.& 0. 644,025 641,025 637,850 bonds................... on [nterest In June, 1897. $74:'S,OO0 cousols were sold, or wllioh $500.000 for Dividends .. ......................... 910,000 910,000 910,000 purol:l.ase of Equity Gas Co. and f:H5,0JO for uuderlyiug bonds. 90,000 90,000 Depreciation........................ DIRECTORS.-Wllllam Rockefeller, H. H. Roa:ers . John G. M-oore, H. W. Cannon, James Jourdan, David G. Legget . ..l!.i. R. Oha.pman. $23,620 $16,347 Ba.Janee. surplus.................... $79,894 OFFICERS-(Elected Nov., 18961.-Presldent, Gen. James Jourdan; Earnings of the Union Stock Yards & Transit Co. were: Treas., E. R. Chapman; Becret'y, Edwin Ludlum. (V. 64, p. 887, 1223.) Oper. exp. Net receipts. Gross receipts. Years end. June 30Brooklyn Wharf' & Warehonse.-ORGA!iCZATCO!i.-[uoorpor· 1896 ....... ··-. ····- ·····- ...... $3,442,263 $1,361,830 $2,080,433 ated Jan. 21, 1895. Owns water frontage in Bt·ooklyn opposite New 1895 ....••..•.. ·•··••· ·········• 3,354,559 2,103,146 1,251,412 York City 11,532 feet and leases 2,837 feet. See description v. 60, p. 1894 ............................ 2,917,368 1,126,618 1,790,749 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I _____ lil8 .INVESTORS' SUPPLEMENT. (VOL. LXVI. Subscribers will cower a ~reat Cavor by giving 1Jn01ed.1ate notice oC any error discovered in these Table 8 • Bonds-Prinoi MISCELLANEOUS. OR DIVIDENDS. Date Size, or -- -INTEREST - - - pal,When Due. · Amount Par For explanation of column headings, &c., see notes on o! by and payable, Where When per Rate Stocks-Last Bonds Value. Outstanding Cent. Payable first page of tables. Whom. Dividend. -Claflin (H.B.) Oompany-Common stock .................. -.....- 1st pref. 5 per cent, gold, cum .. _. { pref. as to ~rinci-} 2d sref. 6 _Eer cent, cumulative.... pal and di vi ends. Ool. oal cf ron Devel.-lst M., g.,guar., red. at 105 . . c*&r Collateral trust bonds, gold, secured by land notes .. ·-· Suburban Land & Investment Co. bonds, guar., p.&i. .. . Ootorado Fuel cf Iron-Pref. stock, 8 Ker cent, cumulative Col. Coal & Iron 1st consoL M., gol , s. f., notdrawn .. c* Colorado Fuel Co's_jen. mort., told, s. f. red. at 110 .. cCol.Fuel & Ir. gen. . ($6,000,0 0) g.,s.fd., red. 105.c*&r Grand River Coal & Coke 1st mortgage, gold, see text.c* Ool.cf Hock. Ooat cf Iron Oo.-lst M.g. (olc16s int. reduced)c' Oommertial Oable-Stock ($10,000,000) .•.................. First mortgage, gold ........ • • • • • • • •c&r $20 ooo ooo ~ , ' ' Do deben. stock£ (same lien as bonds . Comstock Tunnel-Income, non-cum. ($3, 00,000),golc1.c* Oonsol. Gas of Battim01·e Oily-Stock ......•.....•••....... Prior lien bonds, see text (2 issues) ....•................ c Consol. 1st M., gold, $7,000,000 ... , . .. ... . ..... ... .... c* Oonsolidated Gas (N Y.J- Stock- see text .......... . ...... Knickerbocker Gas Light, 1st mort., sinking fund .... c• Metropolitan Gas Light Co., 1st mortgage ...........• c ' Debentures ........... . ................................... r Oonsol-idated Jee-Stock, pref., $3,500,000, 6 p . ct. cum .. Mortgages ot sub-companies. See V. 65, p. 461. . ...... . .. . ...... .. .. Real estate mortgages............... . Oonsol. Kan. Oily Smett'g cfReftn'g-Common stool!: ....... J ---· isso 1892 1894 isso 1889 1893 1889 1887 i897 1897 1889 ---· i~ss i878 1881 1888 .... .... .... .... - - -· $100 100 100 1,000 1,000 500 100 1,000 1,000 1,000 1,000 1,000 100 100 &c. £1 &c. 500 &c. 100 500 &c. 1,000 100 1,000 500 &c. 1,000 ·----· .. . .... 25 DmECTORS.-Chauncey M. Depew (Chairman), W. Scott Fitz, Boston; National Thayer, Boston; W. J. Sewell, CamdeD:z N. J.; F. H. Prince, Boston; Fred H. Winston, Albert H. Veeder and E. J. Martvn of Chicago; Martin L. Sykes. New York:, and George Peabody Gardner, Boston. N. Y. office, 40Wall.-(V. 65, p. 367,411,778: V. 66,p. 81.) Clafl.ln (D. B.) company.-Incorporated under the la.we or New Jersey in May, 1890, and deals in dry goods. Its premises have a trontage of 375 feet on Worth Street, and with all appurtenances are valued at $2,739,181, Its total assets Dec. 31, 1896, including merchandise, accounts receivable, etc., being put at $16,093,561. V. 64, p. 132. 1894 to Oct., 1897. 1893. 1890-1892. DIVIDENDS.6 (llg Q.-J.) 814 Common, per cent . .. 8 yearly. In full to Nov ember, 1897.----~ Preferred stocks..... n fc. 31 ' 1897 • was i n v • . R EPORT.-R epo rt f or th e h a lr-year end mg 6~ 1895. 1896 . 1897. $359,273 $103,403 Net for dividends . .................... $301,338 142,126 142,125 Interest on 1st a:nd 2d pref ... . ...... 142,125 114,873 114,873 On common (3 p. c) .................. 114,873 --- -Balance ... .. ............. . ......... sur.$44,340def.$153,596 s r.$102,274 273,615 277,006 Surplus reserve carried forward . .. . 76,016 ~!:i~!~ ~:~:!~i~- $375,889 $123,410 Burp. reserve for com. stk. Dec. 31.$120,a56 Profits for full calendar yeara before deducting any dividends have been: In 1897, $510,9!3; in 1896, $261,5181 in 1895, $613,970; in 1894 $488,312; in 1893, $323,786; in 1892, :i;870,006. Office corner Church and Worth streets, New York.-(V. 63, p. 115 ; V. 64, p. 132; V. 65, p. 110; V. 66, p. 131,) Colorado Coal & Iron Development.-See page 158. Colorado Fuel & Iron.-ORGANIZATION AND PROPERTr.-A Colorado corporation formed in October 1892, by consolidation [V. 55, p. 373, 639,] or the Colorado Fuel and the Colorado Coal & Iron Co@. Ap-plication to New York Stock Exchange on January 30, 1896, was given in V. 62, p. 461. Coal properties or the Atchison To· peka & Santa Fe Ry. were leased from Aug. 20, 1896; these properties produced 575,201 tons of coal and 59,055 tons of coke in 1895-96. Cash and convertible assets in excess of liabilities June 30, 1896, $1,932,058, including $925,640 supplies on hand. STOCK.-The authorized capital stock is $2,000,000 of 8 per cent cumulative preferred stock and $ll,OOO,OOO common stock (par, $100). Common stock for $1,750,000 was sold in July, 1895. BoNDs.-See application for listing bonds V. 62, p. 461. The Fuel & Iron Co. assumed the Col. Ooa-1 & Iron Co' s guaranty of Colorado Coal & Iron Development bonds for $700,000. The Grand River Coal & Coke Co.'s bonds are not guaranteed but its property is all owned by the Col. Fuel & Iron Co. subject to the mort. Grand R. Coal & Coke bonds for $949,000 are outstanding, of which $180,000 are owned by C. F. & I. Co. 1896 . ..----1897.- ~ 1894. 1895 . 1893. DIVIDENDS.O O O 0 Common . .... . ... 114 % Feb., 4; Aug ., O 8 O 4 s o. Preferred ...... . . 8 (4 s o.) Overdue on preferred in Aug., 1897, 16 p. c., $320,000. ANNUAL RBPORT.-Report for year ending June 30, 1897, was given in V. 65, p. 365, and showed: ,.. ---Gross---.. , - - - N e t - - - 1895-96. 1896·97. Fuel department ....... $3,271,7t0 $2,615,736 Iron department .. . .... 1,539,927 2,768,769 285,655 261,701 Retail dept., etc.... .... 1896·97. 1895-96 $604,436 $476,270 322,597 340,397 23,077 107,609 Total.. ••...•........ $5,073,368 $5,670,160 Deduct general expenses.............. .....•..•• $950,110 $924,276 130,023 125,090 Balance to income account.......... . . . . . . • . . . . . $1,825,020 $794,253 Interest on bonds, $381,710; taxes, exchange, etc. , $62,202; sinking fund, $100,781; balance, surplus for year 1896·97, $280,327, from which deduct dividends on preferred, $80,000. DmECTORS.-Elected Aug. 19, 1896: John C. Osgood, Henry R Wol cott, Denniz Sullivan, John L. Jerome, Charles H. Toll, William H . James, J. A. Kebler, of Denver; A. C. Cass, of Denver; George H. Prentiss, E. Thalmann, John G. Moore, Henry W. Cannon, C. D. Simp. son, ofN. Y.: J. C. Osgooa. President. Olfice. Denver, Colorado.-(V. 62, p. 138,413,456,461; v. 63, p. 400; v. 65, p. 365.) Columbus & Hocking Coal & Iron 0o01pany.-0rganized at Columbus, 0., January 26, 1883, and owns large coal and iron proper· ties, (13,250 acres of land) with extensive works thereon, in Ohio, a 1ull description in CHRONICLE of February 26, 1887, V. 44, p. 278. Bee also V. 63, p. 559. BONDS-Central Trust Co. trustee of lflnptgairn or 1887, on which interest r educed from 6 to 5 p. c. in 1897, and sinking fund can celed- see endorsement on bond in V. 66, p. 81. April 1, 1895, held $54,000 first 6s in sinking fund. Stock is $4,890,000, of which $190,000 is prererred. RE ADJUSTMENT-Receiv er a ppointed in D ecembe r, 1896, was dis• cha rged in J a n .. 1898, a r eadju tment h aving been effected per pla n in V. 65, p. 976, the stockholders p a ying a n a qsessment of $3 per sha re, for whioh they receive preferred stock, a n d t h e old fi rst s b ein,it limited in a mount to $930,000 and made to cover a dditional p r opert y , interest b eing reduced from 6 to 5 per cent-V. 6 5, p. 367, 976. Coupons due J a n., '97, to J a n., '98, inclusiv e, with inter est r educed t o 5 per cent, w ere paid a t Central Trust Co. in Jan., 1898. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $3,829,100 2,600,300 2,570,600 700,000 374,000 500,000 2,000,000 2,888,000 998,000 2,101,000 769,000 930,000 10,000,000 13.000,000 £618,000 $1,908,000 10,770,968 4,600,000 2,182,000 36,230,060 250,000 658,000 1,500,000 3 ,500,000 1,255,00t> 201 ,055 2,500,000 ----- 6 in '97. s.-J. N.Y.,Offlce-ChurchSt J a n.15, '98,l½t .-F. 5 in 1897 do do Feb. 1, '98, l¼. 6inl897 Q.-F. do do Feb. 1, '98,119 5 g. ,T. & J. 1896 coups. purchased. July 1, 190~ 1897 g. J. & D. June, '96, coup. last pd. M.&N. May, '96, coup. last pd. Nov. 1, 1909 See text. F. & A. New York. Feb.20,'97, 4%. 6 g. F. & A. N.Y.,Knickerbocker 1'r. Feb. 1, 1900 6 g. M.&N. N. Y.,AtlanticTrustCo. May 1, 1919 5 g. F. & A N.Y., Chase Natl. Bank Feb. 1 , 1943 6 g. A. & 0. N. Y.,KnickerbockerTr. July 1, 1919 5-6 f! • .J. & J. N. Y. , Central Trust Co. Jan. 1, 1917 8 in '97. Q.-J. N. Y., 253 Broadw~. J a n.3,'98,2~%, g. Q.-J. N.Y., F.L.& T.Co. & ff Jan. 1, 2397 Q.-J. Off., London, England. Jan. 1, 2397' 4 g. M.&N. N. Y.-when earned. Sept. 1, 1919 See text. J. & D. Baltimore. Dec. 1, '97. 2%, Text. 6 1900 & 1910Fir~/at. Bk.d:alt. 5 f!. J. & J. July 1, 1939 8in'97 ~.-M.15 N. Y.,Offlce,4IrvingPl. Dec.15,'97,2% . & D. do 6 do June 1, 1898 F. & A. N. Y., Farm. L. & Tr. Co. Aug. 1, 1901 6 M.&N. N. Y.,Offlce,4IrvingPl. May 1, 1908 5 6in 1897 A.ugust. -... J an.15,'98, 3%, g ! ..... .------ ...... . .... . .... . . .... ...... ........ ····· ···-· N. Y., Office~ ·foo B'way. Mai:20: ·i896 ANNUAL REPORT.-Fiscal year ends Mar. 31. Report for 1894-95 I was in V. 60, p. 1143. Iron production for year, 4,329 tons, against 4,180 tons in 1893·4; coal, 351,905 tons, against 356,402 tons. There were oar trusts April 1, 1895, for $98,384. -YeartoMar.31. Gross. Net. Int., taxes,etc. Imp., etc. Bal.,de_f. $39,327 ljlll,754 $70,865 1894-95 . ...••••• $361,920 $43,292 81,702 13,867 71,30~ 3,465 1893·94. •· · ····· 412,ll3 101,902 36,680 72, l 7.> 6,953 1892·93. • •·· · •;..: 717,752. -(V. 65, p. 27 ', 367,976 , V. 66, p. 81, 183.) Commercial Cable Co01pany.-This is popularly known as the Mackay•Bennett Cable Compa:ny, owning three cables from Nova Beotia to Ireland; one from Ireland to Havre, France; one from Ireland to, Bristol, England; also one from Nova Scotia to New York and one to Rockport, Mass., &c. In April, 1897, contracts for 25 years were made between the Mexican National and Mexican Central and thePostal Tel. Cable, securing for the company a business with Mexico8 sefn\:>~!e~b e~7i.896, the Postal Telegraph Cable Co. was purchased (property transferred Jan. 1, 1897), and its stock of $15,000,000 ex• cha nged, dollar for dollar, for Commercial Cable new 4 p. c. bonds. The first mortgage covers all the property and leases and also the stocks. owned of the various telel(l'aph companies controlled-see V. 64, p. 951. Postal Co. Dec. 31, 1895, had over 117,000 miles of wire and 2,067 offices, transmitting in 1895 about 12,500,000 messages. DIVIDENDS.1891 to 19 96 . 1890 . 1889 . 18 9 7 _ 8 (1 extra in Jan.) 1 7 6 11t p year y. ~ er cen ···········• ANNUAL REPORT.-Fiscal vear ends Dec. 31. Report for 1896 was in V. 64, p. 565, showing earning~ as follows: ,-Qommercial Oable Oo.-,. Net. Gross. ,--Postal Teleg1·aph.·-.. Net. Gross. $'>79,182 $!,473,08-! $1,176,565 1896•. . ..••••.....• $2,019,255 617,863 4,321,296 1,215,398 1895 ............... 2 ,009,738 596,581 3,754,233 1,010.438 1894........... •··· 1,773,434 Total net earnings both companies for 1896, $1,755,747. Against net ea.rnin~s (for 1897) charges will be-interest (on $16,000,000 fours), $640,000: balance for dividends on $LO,OOO,OOO stock. J. W. Mackay, President; Vice·President and General Manager, G G. Ward; Office, 253 Broadway, New York.-(V. 64, p. 565, 842, 9:51.} Conl!lolldated Gas of' Baltimore City .-rncorporated May 5,. 1888, under the laws of Maryland. STOCK. -Authorized $11,000,000. Dividends at 5 per cent yearly have been paid semi-annually, but the June, 1897, dividend was only 214 p. c.; Dec., 2 p. c. BoNDs.-The consf\l. mortgage of 1888 is for $7,000,000 (trustee, Mercantile Trust & Deposit Co., Baltimore), sufficient bonds being reserved to retire the following underlying bonds assumed: Consol. Gas Co. (of 1880) 6s. J. & J., due July 1, 1910, $3,600,000. Chesapeake Gas Co. 6s, J. & D., due June 1, 1900, $1,000,000. OFFICERS.-President, John W. Hall; Secretary, N. T. Meginness, Treasurer, Jos. W. Clarke; office 19 South St., Baltimore. V. 60, p. 39r. Consolidated Gas of New York.-This company was organized Nov. 11, 1884, and absorbed the New York Gaslight, the Municipal <Jas• light, the Metropolitan Gaslight, the Manhattan Gaslight, the Knicker• oocker Gaslight and the Harlem Gaslight. In December, 1897, owned 840 miles of mains, 257,729 m e ter.s l:let. upplied 14,315 public lamps. 1000. The total Law regulating price of gas in N. Y. City, see V. 64, stock authorized $39,078,000, of which $3,647,94 was reserved for working capital and for indebtedness of old companies, and of this $800,000 was listed in D ec., 1897 (see V. 65, p. 1113) ; total listed in J a n ., 1898, $36,230,000. Dividen!ls, formerly 6 per cent, were from June, 189:i, to Dec., 1897, 8 p. o. (2 p. c. quar.). On Sept. 30, 1897, ills payable were $1,000,000. See b alance sheet of ~ept. 30, 1897, V. 65, p. 1113. OFFICER -President, Harrison E . Ga wtry; Vice-Pre ide nt, Thonia s K . L ees ; Secr etary , 0. F . Zollikoffe r; Assistant Secretary, L e wis B. Gawtry ; Treas urer , G. W. Doane. TRUSTEES-Thomas K. L ees, H. E. Ga wtry, Samuel Sloan. John P. Huggins, William Rockefeller, Rosewell G. Rols tou, M. Taylor Pyne. Georg e F. Hake r, James Stillman, Stephen S. P a lmer, H. D. Auchincloss, F. Augustus Schermerhorn, E. R. Holden. N. Y. office, 131 East 23d St.--v. 63, p. 968 ; v. 64, p. 1000; v. 65, p. 1071, 1113. Consolidated Ice.-Organized as stated in V. 62, p. 908, in May; 1895, under laws or Maine, and has purcha'!ed control of various ice properties, including Knickerbocker, National, Ridgewood, Consumers, Montauk, Dealers a nd Standard, of New York, and a large number in Maine. Capitalization is $6,500,000 common stook and $3,500,000 preferred 6 per cent cumulative. Dividends onpreferred-1896, Aug., 6 p. c.; 1897, Au~.• 6 p. c.; in 1898, J an., 3 p. c. Directors in V. 65, p. 4 61. Bills p ayableJ a n. 1, 1897, $504.629, b ut in Nov., 1897, $591,700 of trea ury p refer r ed stock w as sold to pay o1f this d ebt : t otal prefer red outst a nding, ~3,500,000.-V. 65, p. 869. R EPORT for 1896 V . 65, p. 461, showed gross, $3,570,257; net, $755,536 ; inter est $118,042 ; div . on preferred t6 p. c. ), $173,538; b al an ce, sur plus f or year , $463,956. President. Charles W . Morse., Gen er al Office, 23d St. a nd Lexington Ave., N. Y. City.-(V. 6 5, p. 461, 462, 869 .) Consolidated Kansas City Smelting & Kefining.-Incor• porated in 1887 under laws of New York, and owns extensive works at Argentine, a suburb of Kansas City for smelting and refining gold, lead silver and copper ores. Also has smelting works near El Paso, Texas, and Leadville, Colorado. In Mexico it owns many mining properties s· JANUARY, 1898,J MISCELLANEOUS STOCKS A.Nn BONDS. 1-1:9 Subscribers will conCer a great Cavor by giving llnm.edlate notice of' any error discovered In these Tables. MISCELLANEOUS. For explanation of column headings, &o., see notice on first page of tables. Oon. K. O. S. <l Ref ., (Ooncl.J-Pf. stock, cum., call at 125 let M., gold, subject to call at lOo after May 1, 1895 .. o• Consolidation Ooal of .Maryland-Stock ...... . . . .......... . 1st M., $750,000, g., sink. fd., red. each .Tan. at 105 .. .. G ( Wm.) Oramp <l Sr>ns Ship <tEngineBldg-Stock,$5,000,000 Den.,er Oonsolidated Gas-Stock .....•..................... let mortgage, gold (sub.feet to call at 105) ............ o~ INTEREST OR DIVIDENDS. Bonds-Princi Date Size, or Amount pal, When Due. of Par Outstanding Pate Per When Where Payable, and by Stocks-La.at Bonds Value. Cent. Payable Whom. Divide:cd. isoo i896 .... isoi Gold deben., subj. to call at10212 on and after Oct. 1,'97 1895 Denver Union Water Oo.-lst mortgage, $8,000,000, gold 1894 Detroit Gas-Underlying bonds (V.56, p. 672; V. 64, p. 287) Consol. 1st mortgage for $4,500,000, gold ........... c&r iso3 CouP.on funding bonds ................................... . 1894 ~troitMack.<lMarquetteR.R.-Lan~~- (inc.)red.atlOO.r 1881 Diamond Match. -Stock-Listed in Chicago .... . ......... . Edison Elect1-ic Illuminating of Brooklyn-Stock ..•••.• . . 1st M. ($2,500,000),g.sub.to oallllOaft.Oo.1,1900 .. c* &r Bdison Electric Illuminating of New York-Stock ........ . .... isoo i890 letM ($5,000,000)g.,conv.,red.at llOaft. Sept.1,1900 .c* First consol. mort~age, $15,000,000, gold ............ c* 1895 Etectric Storage Battery-Mort., subject to call (e. f.) . . OB 1894 •~~1b~o':ta:a.tr~ 0 -~~~ . !. ::~~.:~~~~-~~: :::::::: :::: :: --·· Consolidated mortgage for $4,000,000, gold ............ c is92 Debentures (subject to call after May 1 1900) c ur .... . 1895 Erie Telegraph <I '.l'elephone-Stock ($5,000,000) .....•.... Collat. trust gold bonds ($1,000,000) ................... . iso4 do rlo ($4.000,000)!l.. R.f.noti-uhj.tocalt.c* 1R96 $25 $2,000,000 7 g. Qua r'ly. 1,000 1,000,000 6 fl, M. & N. 100 10,250,000 2 in 1897 Feb. 1 1,000 582,000 412 g. .T. & .T. 100 4 ,848,000 . ... .. Q.-M. 100 1,500,000 See text. See text 100 &o. 1,500,000 6 g. .T. & .T. 150,000 6 g. ..... 100··&0. 7,000,000 5 g . .T. & .T. See text. 2,000,000 ... F ..&..A. 100 &c. 200,000 5 F. & A. 1,000 3,024,000 .... .. A. & O. 100 11,000,000 10 in '97 Q.-M. 100 4,000,000 6 in 1897 Q.-.T. 1,000 1,500,000 5 g. A.. & O. 100 7,938,000 6 in 1897 Q.-F. 1,000 4,312,000 5 g. M. & S. 1,000 2,130,000 5 g . .T. & .T. 1,000 450,000 See text. J. & D. 100 4,000,000 12 in '97 Q.-.J. 1,000 1,000,00{)1 6 F. & A . 1,000 2,500,000 5 g. M. & 8. 500,000 5 M. & N. 4,800,000 4in 1897 Q.-F. 500,etc. 1,000,000 6 A. & O. 1,000 2 000.000 n Jr. J. & J. i:ooo "ioo DIVIDENDS.-On common, August 1, 1887, to February, 1892, 10 per cent per annum in cash, and in 1892 12111 per cent also in stock; 1n March, 1 93, 10 per cent in stock; in Sept., 1895, 3 p. o.; 1n 1896, March, 3 p. o. On z,referred, in full to Jan., 1898. Preferred stock was fully described m V. 63, p. 32. Preferred listed on . N. Y. Stock Exchange to .January, 1898, $871,325. EARNINGS.-In year ending Dec. 31, !896. gross, $357,311; net $252,042'. In 1895 gross $597,860; net, $501,382; interest and exchange, $229,078 ; charged off on account patents, $66,592; balance, surplus, $205,712. Aug. R. Meyer, President; N. Witherill, Vice-President, 100 Broadway, N. Y. City. (V. 64, p. 754.) Consolidation Coal oC ltlaryland.-Incorporated in 1864 • Baltimore & Ohio RR. owns $3,810,000 stock. Coal mined in 1896, 1,157,200tone; in 1895, 923,655 tons; 1n 1894, 892,502 tons. DIVIDENDS since 1883: for 1884 and 1885, 1; for 1886, &i; for 1887, 112; for 1888, 214; from 1889 to Feb .. 1898, inclusive, 2 p. o. yearly. BONDS.-Bonds for $150,000 remain 1n the treasury. See description in v. 63, p. 1062; $18,000 bonds redeemed by sinking fund Jan. 1, 1898. Owns $1,500,000 stock of Cumberland & Pennsylvania RR. (which see) and guarantees its $1,000,000 bonds. EARNINGS.-Statement for 1896 in V. 64, p. 608, showed: Gross receipts of mines, RRs., &c. (including coal on hand) .. $1,690,901 Netreoeipts ..................................................... $628,579 Interest in 1896, including interest on guaranteed bonds (see above), amounted to $116,000; balance, surplus for dividends, $512,579; dividends $205,000. Balance to credit of royalty fund Dec. 31, 1896, $839,082, invested in interest-bearinJ! securities. OFFICERS.-Preeident, C. K. Lord; Secretary and Treasurer, T. K. Stuart. Office, 44 South St., Baltimore, Md. (V. 65, p. 1173.) (Will.) OraIDp & Sons' Ship & Engine Building Co.-Incorporated m Pennsylvania in 1871-72 to take over the business established by Wm. Cramp in 1830. To fund floating debt were issued in 1896, $1,500,000 gold notes, due $50,000 monthly. In September, L897. it was reported that payment of the last of these notes had been provided for. There is also a "shipyard" first mortgage for $260,000 of 6 per cent bonds due .July 31, 1900, of which $185,000 outstanding. All current debts due April 30, 1897, $1,350,000. DIVIDEND .- c 1891. '92. '93. '94. '95. ' 96. '97. Percent,.... 5 8 8 &20sc. 10 18 7 None. . •.. Dividends stopped temporarily in 1896-97 to pay flo a ting debt. REPORT.-Report !or 1896-7 was in V. 64., p. 1223, Rhowing gross income or $!,500,000; profit on material and labor, $770,000; taxes and general expenses, $3!0,000; bal., surplus, $430,000. Denver Oon,mlldated Gas Oo.-Organized Nov.16.1891, to take over the old gas company in Denver, Col. Capital stock, $1,500,000. The debentures of 1895 are subject to drawings by lot, $10,000 per annum, each Oct. 1 on and after 1897; the old debentures of 1893 have been retired. Dividends-1892, 3 p. o.; 1893, 3 p. c.; in 1894, 1 p. o.; in 1895, 1 p. o.; in 1896, .Tan., 1 p. c.; April, 1 p. o.; Oct., none. EARNINGS.-For year ending Dec. 31, 1896, gross, $318,311; net, $190,508; int. and taxes, $120,943; bal., surplus, $69,564. Extensive improvements in 1896 were met from surplus which would otherwise have gone to stock. For 1895 grosea, $309,534; net, $187,802. President. J.B. Grant, Denver; Vice-President, George Coppell, New York. -V. 65, p. 824. Denver Union Water.-A consolidation in October, 1894, of the Denver Water Company and the Citizens' Water Co. Franchises run 15 rears. Controls the water supply of the city of Denver, Col., and viomity, and said to have about 400 miles of ma.ins. Capital stock is $5,000,000 common and $2,500,000 of 5 p. c. non-cumulative preferred. Bonds for $7,000,000 were issued to pay for property of old companies which were sold under foreclosure. President, W. S. Cheesman; Secretary, W. P. Miller; Treasurer, D. H. Moffat. (V. 59, p. 738.) Detroit Gas.-Organized in November, 1892, to control all the gas properties in Detroit, Mich. Has a 30-year contract with the city of Detroit. See application to N. Y. Stock Exchange in v. 56, p. 672. In September, 1897, control w as purchased by Emerson McMillan & Co., and company is being r eor ganize d under l a ws of Michiga n with capit al of $5,000,000 a nd $5,000,000 of 25-yea r 5 p er c ent bonds. -V. 65, p. 1219. OLD BONDS, ETC.-Only $4,000,000 consols . issued on present property, and $2,000,000 of these are reserved to retire prior lien bonds, the amount actually due upon which is now in litigation. See V. 64, p. 287. Four coupons, Aug., 189!, to Feb., 1896, incl., funded into 10-year 5 p. c. bonds; mterest accrues from Feb. 1, 1896. Of the $2,000,000 consols, $1,892,000 assented to funding the coupons as above.-V. 63, p. 601. Stock $4,000,000; par, $50. EARNINGS.-Year ending Feb. 29, 1896, gros s, $570,417; net, $247,388.-(V. 65, p. 12 l9.) Detroit l'flacklnac & l'flarq.-SUPP., April, l897. V. 65, p. 685. Detroit Union KR. Depot.-See this SUPPLE~IENT, page 158. Diamond Itiatch.-Ol{GANIZA.TION, ETC.-Organized in 1889 under laws of Illinois. Owns factories at Boston, Mass., Barberton, 0., Bt. Louis, Mo., Detroit, Michigan, eto.; also store properties at Baltimore and Philadelphia, and saw mills at Green Bay, Wisc., with extensive pine etumpa~e. See report of Chicago Committee in August, 1896, in V. 63, p. 357,401. Diamond Match Oo. (Ltd.) oraLondon w as organized May 10, 1897, to take over the Liverpool (Eng and) f a ctory, see V. 64, p. 663,707,754,952, 1088: V. 65, p . 1023. D rvIDENDS.1893. 1894. 1895. 1896-1897. Smee 1892, p. ct. 20 10 2119 10 (212 Q-.T. ) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5.g. N.Y., Office, 100 B'way. do do N.Y., Co.'sOf., 1 B'way. N. Y., Guaranty Tr. Co. Philadelphia. N.Y.,Mait.,Coppell&Co. N. Y.,Atlantio Trust Co. do do N.Y. Fourth Nat. Bank. Guar'anty N. Y., Tr. Co. do do 1 p. o. pd. Oct. 13, 1897. By check fr.Chicago off. Brooklyn. do N.Y., Of. 53 Duane St. N. Y., Guarainty Tr. Co. N.Y., State Trust Co. Boston, Old Colony Tr. N. Y., Offlce,340 3dAv. N. Y., Central TrustCo. do do do do Cheeks mailed. Boston, Old Colony Tr. do do .Jan.15,'98, 1 ~ May 1, 1900 Feb, 1, '98_, 2% .Tan. 1, .L921 Dec., 1895 Apr. l,'96.1~ Nov. 16, 1911 Oct. 1, 1911 .July 1, 1914 Fei>:'i',"i918 1904 Oct. 1, 1911 D ec.11,'97, 2¼? Jan.15,'9~, 1~ Oct. 1, 1940 Feb.1, '98, 1~ Moh. 1, 1910 July 1, 1991> Dec. 15, 1924 Oct.15,'97,3% Aug. 1, 1899 Moh. 1, 1932 May 1, 1905Nov.15,'97,lo/o.. Apr. 1, 1909 July 1, 192& STOCK.-Increased from $7,500,000 to $9,000,000 in March, 1893, for new plant, etc.; in Feb., 1895, to $11,000,000. (V. 59, p. 1058.) ANNUAL REPORT.-Fiscal year ends Dec. 31. Report for 1896 in v. 64, p. 285, showed net earnings, $1,226,«2; in 1895, $1,4~7,040 ,... against $1,373,08( in 1894, $1,359,577 in 1893. Net in 1896 were at the rate ol 11·15 p. c. on the stock, against 13·24 in 1895, 15·2 in 1894 and 15·1 p. c. in 1893. Examining committee's statement V. 63, p. 401. OFFICERS.-President, 0. C. Barber; Treasurer, .T. K. Robinson; Sec'y,,. H.C. Cranz. Mainoffice,Chicago.-(V. 65, p. 869, 1023, 1219.) Distilling & Cattle Feedlng.-See AMERICAN SPIRITS MAN. Edison Electric Illum.lnatlng oC Brooklfn.-On Jan. 1 1896, this company was supplying 154,523 lamps o 16 o. p., 2,53Z horse power motors and 3 647 arc lights. Stock and bonds listed on New York Exchange in September, 1892. See adv. CHRON· ICLE of March 12, 1892. In .January, 1897, the Issue of $250,000 new stock and $250,000 of the bonds were sold, and in .Tune an additional $250,000 ol'. bonds forimprovements. Trustee, Franklin Trust Co. DIVIDENDS.- t 1891. 1892. 1893. 1894. 1895 to Jan., 1898,. Per cent. 5 2 4 5 534 6 p. c. (119 quar.) EARNINGS.-12 months, 1897....... Gross, $888,729; net, $370,098 .Tan. 1 to Dec. 31. 51896 ....... Grose, 826,550; net, 342,148 ANNUAL REPORT.-Reportfor 1896, V. 64, p. 231, showed: c Year- Gross. Net. 0th. inc. Interest. Dividends. Bal.,sur 1896 ...... $310,266 $311,000 $31,148 $50,000 $225,000 $67,148 1895 ...... 621,149 237,442 29,907 33,750 202,500 31,099' OFFICERS.-President, Ethan Allen Doty; Seo. and Treas., R C. Peabody. Office, Pearl St., Brooklyn, N. Y.-(V. 64, p. 233.) Edison Electric Illum.lnatlng Co. of New York.-Operate& under Edison patents in New York City. Dec. 31, 1896, incandescent lamps, 309,369; in 1895, 246,628; arc lamps, 5,559 in 1896; 5,031 in, 1895; its motors, horse power, 15,953 in 1896; 11,658 in 1895. DIVIDENDS.- 5 11885-91 '92. '93. 1894 to Feb., 1898, incl. Cash p. o. i 4 yearly. 5 5¾ 6 p. c. (112 quar.) In 1887 paid an extra dividend of 7 p. c. and in 1891 of 5 p. o. in scrip. BoNDs.-First .mortgage trustee is the Central Trust Company. See terms of convertibility in SUPPLE?tlENT for .January, 1894. The first consolidated mortgage is limited to $15,000,000; bonds are reserved to pay off at maturity the $4,312,000 firsts and the remainder, $8,500,000, are for future use, at not more than, $1,000,000perann. Trustee, State Trust Co., N. Y.-v. 62,p. 370. EARNINGS.-12months,? 1897 .... gross, $2,492,371; net, $1,~67,230 .Tan. 1 to Dec. 31. ~ 1896 .... gross, 2,247,437; net, 1,094,349REPORT.-Report for 1896 at length in v. 64, p. 327, 332. Gross. Net. 0th. intJ. Int., etc. Dividends. Bat.,sur. 1896 .. $2,222,737 $942,218 $24,162 $328,323 $476,220 $161,837 1895 . . 2,000,856 785,201 30,557 278,692 476,280 60,786 Spencer Trask, Pres. Gen. Office, 53 Duane St., N. Y.-(V. 64, p. 332. ► Electric Storage Battery .-lncorporated in 1888 under laws ot New .Jersey. For companies absorbed in 1895 see V. 59, p. 1007, 1058. STOCK.-Common, authorized, $3,500,000 (par $100), all outsta.nd • Ing. Preferred. 1 per cent cumulative, $5,000,000 (par$100). Capita l stock was increased in 1894 from $10,000,000 to $13,500,000. BONDS.-Mortgage, $450,000; interest,1. 4 p. o. in 11:197 and 5 p. c. thereafter. Sinking fund operative in lts99 and bonds can be called on 15 days notice at from 75 p. o. to par. REPORT.-Report for year ending Dec. 31, 1896, in V. 64, p. 841 showed gross sales $646,319; net _profit, $141,999; royalties, etc., re· ceived, $6,801; interest on bonds, $13,738; hal., surplus for year, $135,062. In 1895 gross sales $328,231. President, L. L. Rice; office .. Drexel Building, Philadelphia, Pa. ( V. 64, p. 1222.) Equitable Gas Light (ot' N. Y.)-Consolidation pending with N. Y . & East River Gas-see New Amsterda m Ga s . Erle Telegraph & Telephone oo.-ORGANIZATION-Owns 65 per cent of the Cleveland Telephone Co .. 70 per cent of the Northwestern Telephone Exchange Co., and 70 per cent of the Southwestern Telegraph & Telephone Co., operating in the States of Ohio, Minnesota, North and South Dakota, Texas and Arkansas, under licenses from Am. Bell Co. .Tan. 1, 1897, had 21,389 subscribers against 18,591 in 1896 in 343 cities and towns, and 6,500 miles long-distance lines . STOCK.-ListedonN.Y. StookExchangein1894; see V. 59, p . 701. BONDS.-The collateral trust bonds of 1896 were authorized to pur chase new stock in three s ub companies (to be issued for additions), ; ~~: ti!p$l1,telo~8os8~~t~~rz:cf.\1%8i1;13~ea~1~ec~~~~ f or outst a nding 6s a nd $1,000,000 (ln .T a n. , 1898) in treasury. V. 66, p . 81. DIVIDENDS............... { 1888. '89. '90. '91. '92 to ' 97inol. Per cent ............... 5 4 3 34 4 1 4 yearly. R EPORT.-Report for 1896 was in full in v. 64, p. 887, 900, 950. The companies controlled had gross income, $1,206,147 (against $1 08~ 896 · 1895) 1 di ·d d 8 $38 350 f ' o, ; surp us over en • • or year total surplusm of sub-cos., .Tan. 1, 1897,Vl$203,806. For the same;. p eriod E. T. & T. co. proportion of dividends, $314,914; dividends pa.id by Erie (4 per cent) $192,000; expense account, $106,274;. net surplus for year, $16,640; total surplus E.T. & T., .Tan. 1, 1897, $198,645. Office, Lowell, Mass. (V. 65, p. 824, V. 66, p. 81.) ~~~i:.mJ>? IAO INVESTORS' SUPPLE~NT. [VoL. LXVI. Sub8crlbers wlll conCer a great Cavor by glvlng ltnrnedlate notice oC any error discovered ln these Tables. MISCELLANEOUS. Date Size, or Amount INTEREST OR DIVIDENDS. Bonds-Pr1nc1- - - - - c - - - - - - - , - - - - - - - - - ~ pal,When Due. For explanation of column headings, &c., see notes on Boonfds Vpalaure. Outstanding Rate Per When Where Payable, and by Stoc1cs-Last :first page of tables. Fm-t Union Depot (Detroit) 1st mortgage, gold....... c• 2d mort~age, goldj ........................................ . 6eneral .Flectric-Common stock........................... . Pref. stock 7 per cent cum. (not pref. as to assets) .... . . Debentures, g., convertible ($100 stk. for $120 bonds). o Girard Point Storage-1st M., gu. p. & i. Pa. RR ........... r ,Glucose Sugar Refining-Common stock, $26,000,000 ... . Preferred, 7 per cent, cumulative, $14,000,000 ........ . ,Grand Rapids Gas Light- Stock ......................... . 1st mortgage, $1,50 ,000, redeemable at 110......... c* Henderson Bridge Oo,-lst M., gold, drawn at 105 ...... cw Herring•Hall·Marvin-Stock ($1,800,000is pref. 8 % cum) Hoboken Fe1·ry-lst cons. M., red. at 110 ($1,500,000 .. c* N. Y. & N. J. Ferry, two morts. ($600,000 a re 1st) 4s .. Illinois Steel-Stock, $50,000,000 authorized ............. . Debentures, subj't to call at 105, convert'le into st'k... c* Non•convertible debentures for $7,000,000, A & B .... c* Iron Steamboat Oompany-lst mortgage for $500,000 ... . Jeff. ~ Olearf'd 0. & I.-Pref. stock, $1,500,000, non•cum 1st mortgage, $2,000,000, gold, s. f., dr'n at 105 ..... c* 2d mortgage, $1,000,000, gold, s. f., dr'n at 105 ..... c* Kansas Oity, .lfo., Gas-1st mort., $5,000,000, gold, G . c ~ Keok,t.tk, & Hamilton Bridge Oo.-lst mortgage ........... c Laclede Gas Light-Common, $7,500,000 ................... . Preferred stock, 5 per cent ..............•...•.....•...... 1st mortgage, gold .................................. . c.c · Coupon notes, gold, $500,000, red. in 2 years ........... . SL. Cent. 1891 1895 .... is92 1890 1881 1896 .... 1890 1893 1881 .... 1896 1896 1897 1869 isso 1896 $1,000 1,000 100 100 1,000 1,000 100 100 50 1,000 1,000 100 1,000 $1,000,000 4¼g. J. & J. 329,000 5 g. J. & J. 30,460,000 ...... ... . . 4,252,000 ...... ..... 8,000,000 5 g . .J. & D. 2,224,000 3¼ A. & 0. 24,286,000 .. .. . 12,800,000 7 Q.-M. 1,000,000 5 in 1897 M&N.20 1,225,000 5 F. & A. 1,728,000 6 g. M. & S. 3,300,000 .... .. .. ... 4,100,000 5 M. & N. 1,000,000 4 & 5 .J. & J. 100 18,650,635 ..... 1,000 6,200,000 5 .J. & J. 500 &c. 7,000,000 5 A.. & 0. 500 457,000 6 .J. & J. 100 1,500,000 5 ..... 2,000,000 5 g. J. & D. 1,000,000 5 g. .J. & D. 1,000 3,750,000 5 g. See text 1,000 1,000,000 8 A. & O. 100 7,500,000 See text. . . . . . 100 2,500,000 7in 1897 J. & D. 100 &c. 10,000,000 5 g. Q.-F. 100 &c. 400,000 5 g. ... .. Fort Street 1Jnion Depot.-See SUPPLEMENT, April, 1897. General Electric Company.-ORGANIZATION, ETc.-Organized ond.er the laws of ~ew York, ~pr:µ 15, 1892, and acquired a.~l of the -eapital stocks of Edi~on Electrrn Light, Edison General Electric, Tho11:1· eon·Houston Electric and ThomRon•Houston International Electric -companies. It thus owns the Edisou and other patents for electric lightin.g in the U,nited State~ and m~ny !oreign countries, ~nd grants exclusive franchises ~or s~ecifled territor~es t-0 local co_mpames ..lt also f!ells outfl_ts for electric railways and all kmds of ~lectrical su~plies. In April, 1896, an agreement was made with the Westmghouse Electric & Manufacturing Co. for poolino- the patents of the two com• panies. See v. 62, p. 502, 635, 1040; v. 65, p. 151. . . . CAPI.TAL STOCK.-The total authorized capital stock is !fl50,00~,000, of which $10,000,0~0 _may be pr~f. 7 per CeJ?-t cumulative, without preference as to principal, but with same votmg power as \l01'1TI'OD, Bee preferred certificate in editorial of May 1893 SUPPLEMl'WT. . ' ' . . . DIVIDENDS.-The <?O~mon stock pa1d in 1892, 4 p. c., m 1893, 6 p.c., none since. Last diVIdend on the pref. stock July, 1893, and accumulated dividends in Jan., 1898, 31¼ p... c., which must be paid befo re ruvidends are resumed on common stock. . BoNDs.-Bee terms m SUPPLEMENT of March, 1893, on page 3. GENERAL FI~ANCES.-Se~ "Street Ry. and lliuminating Properties" in this SUPPLEMENT. DiVIdt_mds have been accumulating on the_pre• terred stock since and includmg July, 1893. Profit and loss deflcn as per balance sheet Jan. 31, 1897, was $12,957,413, against $13,917,071 in 1896. During year 1896·97 the company purchased $750,000 of its debenture 5s, leaving $8,000,000 outstanding Jan. 31, 1898. ANNUAL REPORT.-Fiscal year ends January 31. Annual meeting is held the second Tuesday~ May. Report.for 1896·97, with balance eheet of Jan. 31, 1897, wa.s given at length m V. 64, p. 8 4 ~, 8 4 8. The report shows gross earnmgs $12,820,396; cost of matenal, general expenses and taxes, $1l ,207,3E 9; net earnings, $1,613,007; interest on debentures and other charges (net), $60,770; balance over interest charges, $1,552,237. Amount charged off, $592,579. In 1895·96 315 667 gross, $l 3 , , · . . . DIRECTORS for the ye~r 1895-96 · Oliver .Ames, C. H. C~ ster, C. A. C~ffh:~, T. Jefferson C~olldge, ~r., T. A. Edison, F. S. Hastmgs, H. L. Higginson, Eugene Griffin, J. Pierpont Morgan, Robert Treat Pame 2d. Gordon Abbott, George P. Gardner, Ge!), Foster Peabody. President, C. A. Coffin; Treasurer, Henry W. Darling; Secretary, M. F. Westover; office,Schenectady,N. Y.-(V. 65, P· 15 1.> Glucose Sugar Ke.fining Co -Incorporated at Trenton, N. J., Aug. 3, 1897, and purchased nearly all the glucose properties of im· portance in the count,r y; total capacity of pi-operties consolidated about 1,100,000 bushels. STOCKS.-Common stock, ($26,000,000 authoriz~d) entitled to 7 per cent per annum after tbe preferred stock bas received 7 per cent, and thereafter to share equally with the preferred in all other dividends Preferred, authorized, $14,000,000. No bonds issued. Div1dends.-On preferred first dividend paid Dec., 1897, 134 per cent. OFFICERS.-C. H. Matthiessen, President; William Dickinson, Vice· President; George Firminich, Second Vice-President; s. T. Butler, Secretary and Treasurer; Charles Ulass, Assistant Secretary and Treasurer. General office, The Rookery, Chicago. Directors.-C. H. Matthiessen, F. O. Matthiessen, E. A. Mattbiessen, Normon B Ream William Dickinson George Firminich Edwin Myer S. T. Butler, A. Garretson.-V. 65,'p. 235, 327,685,914. ' Gold' & ~tock '.l'etegraph Co.-See WESTERN UNION TELEGRAPH. Grand Rap_tds Gas•Llg_h t Co.-O 'Yns b ypurch asea11 ~roperty Of the l¼rand Rapids Gas <;:Jo., with a capa(?ity o.r 1 , 5 00,000 cubIC feet per day ana 75 miles of mam pipe; meters muse Dec. 31, 1896, 6,179. DIVIDENDS.-In 1895, 4 p. c.; in 1896, 5 p. c.; in 1897, 5 p. c. EARNINGS.-Year, net,$133,742; $125,438 in '96. REPORT.-Report for 1896 in V. 64, p. 662, shows net earnings $125,· 438; interest, $61,250; dividends, $50,000; surplus, $14,188. President, Emerson McMillin,40 Wall l:3treet, NewYork.-V. 64, p. 662. Hecker•.Tone 111-.Tewe1l Milling Co.-Seethis SUPP., p. 158. . o. Henderson Br~dge Co.-Owns bri~i:,e across Ohio R. at Hender• liOn,Ky., and 10 miles of road. Stock is $1,000,000 (par, $100), of which the Louisville & Nashville Co. holds $501,000; the Bridge Co. is ~uaranteed gross receipts of $200,000 per year by the several roads usmg it and dividends or 2¼ p. c. are pa.id each F. & A. $272,000 bonds retired were in sinkin~ fund in .January, 1896. For year end• ing June 30, 1896, gro~s.$250,731; net,$231,091; other income $688. Charges, $167,076: d1~dends, $50,000. Bal., surpl~s, $14,703. ln 1894·5 gross, $231,218, net, $218,776. (V. 59, p. 2 90, V. 6l, P- 3 2 4-l Herrlng-:Ha~l-1'.larvln Cornpaoy.-ORGANIZATION,PROPERTY, ET0.-0rgamzed m 189.2, to m~nufacture fire and burglar·proof safes and vaults. Bee advertiseme}!-t m CHRONICLE of Mav 14, 189 2 , In Jan• uary, 1896, property placed m hands oftrustees.-V. 62, p. 138. RECEIVE_R HIP.-O_n De~. 24, 189 7 , W. D. Pownall ~nd G;eo. R_. Gray wer.- al!-pomt:ed receivers m New -~ersey and S._ D. Tilton m Ohio. V. 65, p. 1220. See statement of President Jenks m V. 66, p. 38. COi\r:MITTEE.-Preferred stockholde,·s on Dec. 29, 1897, appointed W. C. Taylor, Philip Hathaway and H. A. Tenney a committee to effect a reorganization.-\". 66, P· 38. DIVIDENDS on common: In 1893, June, 4 per cent. Dividend on pre• ferred due in June, 1894, was not paid; none since. ANNUAL REPORT.-Fiscal year ends April 30. Report for 1896·97 showed loss on operations for year, $63,000, and for 15 months slnce trustees took charge deficit is about $79,000; bills payable, $200,227; u: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Payable Whom. Dividend. - --• ----·1------1---- - - - - -----------1------ N. Y. Central Trust Co. Jan. 1, 1941 do do July 1, 1915 ...... .... See text. July 1, 1893 N.Y.iGuar.Trust&Bos. June 1, 1922 Phi a .. 233 So. 4th St. Ayr. 1, 1940 .. . ....... . ...... . .......... Dec.1'97,1~% . . . . ...... Nov.20,'97,2¼ New York. Feb. 1, 1915 N. Y., 120 Broadway. Sept. 1, 1931 N. Y., by check. See text. N. Y., U.S. Mort. & Tr. May 1, 1946 New York. (1) N.Y.,MetropolitanTr.Co July, '96, 112% N. Y., Cuyler, M. & Co. Jan. 1, 1910 do do Apr. 1, 1913 N. Y .. First Nat. Bank. July 1. 1901 Checks mailed. A.ug.16,'971..5% N. Y., Guaranty Trust. June 1, 1~26 do do June 1, 1926 N. Y. Guar. Tr. & Lon. Apr. 1, 1922 See text. Apr. 1, 1899 N. Y.,H.B.Hollins; Bt.L. Feb.15,'98, 119 do do Feb.15.'98,3% do do May 1, 1919 . . . . . . . •. . Feb. 1 1901 ISee acc. payable, $70,742; cash, $35,745; accounts receivable, $164,180.V. 66, p. 38. N. Y. Office, 31 vhambers St. V. 66, p. 38. Hoboken Ferry Co.-Ferry runs from Barclay Street, Chris~o pher Street and West 14th ~t. to Hoboken. Capital stock $4 000 000· ' • ' Hudson Tunnel Ky.-Under foreclosure. See V. 65, p. 412. Illlnols Steel.-ORGANCZATION-Formed May 1, 1889, by consolidation of the Joliet Steel, Union Steel and North Chicago Rolling Mill Bee statement to Stock Exchange in March 199 4 v 58 p 514 • ' ' · ' · · BECURITIES.-As to terms of convertible bonds of 1890, see SUPPLE• HENT of March, 18~3, on page 3. In _1893 $6 743,000 _non•oonvertible debentures were issued for new mills, etc., and while any of these "bonds remain unpaid, no mortgage shall hereafter be placed upon any of the property of this company." . . DIVIDENDS.-For 1889, 4 per cent; for 1890, 3 p. c. m oash,5 m stock for 1891 none; in 1893, March, $13·51 inscrip,and in April5p.c.in cash; in 1894 and 1895 none. in 1896 April 1¼ P c. July 1111 P c ' ' ' · :• ' · · .ANNuAL REPORT.-Ann~al report for 1896 "!, V. 64, P•. 327, 372, ~ave no statement of earnmgs, but stated that: The condition of the company on .Jan.1, 1897, was about the same as it was on Jan.1, 1895, without any impairment of our investment but with increased value and economies in our plants." For previous years earnings were: Year end Dec 31- Gr profit Other inc lnterest Bal su7lt · · " ·873 230 · · ·• • 1895 36 • $ 66 0,000 •093 $ 232 0,0514 $1,233,2 6 1894·· ·· ·· ·· ·· ·· ·· ·· ·· ·· ·· ···· ·· ·· ···· $l, 558 . , t1 , . 660,000 30,607 In 1896 oompany shipped 773,673 tons of finished product. General OtHce, Chicago; N. Y. Office, 44 Wall St. (V. 64, p. 312.) Interior Conduit & In1mlation.-See this SnPPLEMENT, p. 158 International Ocean Tele 00raph.-See WESTERN uNION TRL . '"' · Iron Steamboat.-Bee this SUPPLEMENT, p. 159. .Teff'erson & ClearfteJd Coal & lron.-See this SUPP., p. 159. .Tohnson Company.-See this SUPPLEMENT, p. 159. Kansas City. Mo .• Gas Co.-Organized in April, 1897, in Missouri and acquired all the property, franchises, etc., or the Kansas City Gas and Missouri Gas companies. Capacity of 4,000,000 cubic feet a day; 235 miles of main pipe; meters in use July 31, 1897, 20,280. Capital stock, $5,000,000: par, $100. Inte1·es1 on bonds is payable A. & 0. at N. Y. office of <luaranty Trust Co. or M. & N. in London. Net earnings May 1 to Oct. 31, 1897 (6 months), $152,320; interest charges (6 months), $93,750; llalance, sui-plu,-, $5~.570. Direclors.-President, M. J. Payne; J. Crawford James, Hugh J. Mc· Gowan, Thomas Dolan, G. R. Turnbull, J. T. Holmes, R. M: Snyder, Randal Morgan, Joseph Bushnell. (V. 65, p. 277, 729, 1024.) Keokuk & Hamllton Bridge Co.-Owns bridge across Mississippi River at Keokuk, Ia., for railroads and foot passengers. The pro\)erty was originally leased to four companieR, but ouly two com pames now use it, these being the Toledo Peoria & Western and the W:abash. Rega;dingthe guarantee on the bridge bond_s b.Y the Pitts. CtD;, & St. Lows (now P. C. C. & St. L.) declare~ bmding by the Umted States Supreme Court-1 see V. _59, p. 969. On Judgment of 1889 $203,000 11:as b~en collecte!}; !)n Judgment of 1894, $142,000 col• lected. Third smt was pending m Jan, 1897. Stock, $1,000,000; par, $100. Coupons are in defa~t, but _mort~age has 1:1ever bee~ fore• closed, and part of overdue mterest is paid as earnm~s permit. On Jan. 15, 1898, :first half of the coupon No. 35, due Oct. 1, was paid. EARNINGS-Year ending June 30, 1897, gross. $41,879; net, $25,200, In 1895-6, grossl $54,116; net, $34,494. ln 1894·95, gross, 9'47,600: operating and egal expenses, $50,395; taxes, $2,374; balance, de· ticit, for year, $5,169. Theodore Gilman, Tr~asnrer. 62 Cedar Street, New York.-(V. 59, p. 969.) Laclede Ga8 Light.-ORGANIZATION.-lncorporated in 1857, and in 1889 secured control of all the other gas companies in St. Louis. In 1896 _the price of gas was reduced from $1 18 to$~ per l,00~ feet for lllummating and to 80 cents for fuel gas. As to Blllts regardmg charter, etc.,see V. 64, p. 134. Case set for Feb. 21, 1898. V. 65, p.1220. 8TOCK.-Common stock is $7,50~,000; pa_r, $100. Preferred is for $2,500,000 of 5 per cent cumulative, and m Jan., 1898, the last of the dividends in arrears was paid and a dividend of 1¼ p. c. was paid on the common -V 66 p 183 · ,· ', · ,· , , DIVIDENDS.-<. 90. 9 l. 92. 93. 94. '95 to Dec., '97. '9 8. Preferred, p. c. 5 2 ~ 0 5 5 6 7 (3¼ semi•an.) Below. In 1898 on "preferred, Feb., 3 p. c.; on common. I¼ p. c. BONDS.-See application to Stock Exchange in V. 49, p. 657. There are $125,000 Carondelet Gas 1st mortgage 6s. The $500,000 gold coupon notes were authorized for extensions to be made in 1896. ANNUAL REPORT.-For year 1897 (including Carondelet Branch) net earninl?S were $883,059; in 1896, $782,213; ln 1895, $883,899· in 1894, $808,518; in 1893, $762,785; in 1892, $698,090; in 1891, $582,460. New York ottice, 4 o Wall Bt.-(V. 65, p. 778, 1220; v. 66, p. 183.) Lake Superior Consolldated Iron llllnes.-Incorporated in 1893, and owns or controls nearly all the important -properties on the Missabe Range, Minnesota, including the Mountain Iron Co., Missabe Mt. Iron, Lone Jack, N. Y. & Missabe Iron, etc., and the Duluth Missabe & No. Ry. 8TOCK.-Auth., $30,000,000. Issued $28,450,000. BoNDs.-First mortgage (Farmers' L. & T. Co., trustee) for $10 000,000 provides for a sinking fund. " Unless previously converted into stock," bonds can be drawn at 105 after Sept. 1, 1896. DIRECTORS.-George D. Rogers, Fred. T. Gates, D. B. Searle, Edward 8. Cary, George Elwood Murray, Lewis .J. Merritt and Charles E. Scheide. Pres., Fred. T. Gates; Secretary and Treas., Chas. E. Scheide. JANUARY, un MISCELLANEOUS STOOKS AND BONDS. 18\:18,J Subscribers 'IVill confer a great favor by giving hninedlate notice of any error discovered in these Tables. Bonds-cftlnolMISCELLANEOUS. INTEREST OR DIVIDENDS. Date Size, or pal,WhenDue. Amount For explanation of column headings, &c., see notes OD of Par Rate Per When Where Payable, and by Stocks-Last Bonds. Value. Outstanding Cent. Payable first page of tables. Whom. Dividend. --- - - - L. Superior Oonsol. Iron Mines-lRt M., $10,000,000, g.c* 1893 $1,000 $1,500,000 6 g. M.& S. N.Y.,Farmers' L.&T.Co. Sept. 1, 19OS Lehigh Goat & Navigation-Stock, $14,366,650 _________ . __ 50 14,346,650 4 in'97 M.& N. Philadelphia, Office. Nov.27,'97,2 % 1st M., canal, 6,030 acres coal and 76 m. L. & S. RR ___ r i864 Various 41.g 5,000,000 Q.-J. do do July 1. 191 4, lstm.,g .. Leh. & Sus. RR. (oldos ex:t. ing. Feb. 1.'97) __ r 1867 Various 1,992,833 4 g. Q.-F. April 1,1914 do do 2d M. Can. Coal & RR.; 1st M. N ant. RR. ,6s ext. ,'97, g .o* 1867 500&0. 1,842,500 4 g. J. & D. do June15,191 4 do Cons. 3d M. Canal, Coal & 122 m. RR.; 2d M. 26 m . .KR _r 1871 1,000 2,470,750 7 J. & D. do June 1, 1911 do I General mortga~e for $15,000,000, gold _____ --------- .r Collateral trust for $1,500,000, gold._ ... __ . . ___ . _____ c* Delaware Div. Canal 1st M., see text,(ext'din 1878) . . . o Lehigh & Wilkesb're Ooai-L. C. & N. M. ,g., assu. (ext. in '97) 1st gen. mort. sterling loan, sink. fund, drawn at 100 .. c Con.M.(seetext); (coup's held by Cent.N.J.,$5,472,552) 5a of 1912, cum. sinking fund (not dr.) ________ .. _______ c Income" B" bonds,not cumulative, hl\ld by Cent. N.J . . 1884 1895 1858 1867 1874 1875 1888 Louisville Bridge Oo. and Louis'1•. & Jejfer Bridge Co.- SEE-R Madison Square Garden-1st mortgage, gold_. ___ .... __ o* 1889 c* 1891 p. o. cumulative, $15,000,000 ____ .. _... __ .. i897 $i:5o-o;ooo M!~.~~~~roe!f~ia~~Gen:M:io~ goicf 1890 Marsden Oom1,any-Common, $35,000,000- - -- . -... - ... -Preferred, Maryla,nd OoaZ-Stock, preferred (no bonds) __ . __ -- _- __ .. _ ---· Ma:cwellLd. Gr.-Pr'rlienM.g.,red. atlOO (orllOatmat.)c 1888 MetropotitanTel.ctTeteg. Oo.-See N. Y. TELEPHONE. Mf¾lncan Telegrap~Stock_. _. _.. ___ . __ - --. --- ----.. -- -----. - .... Michig:n Peninsula1· Oar-Common stock $3,000,000 __ . ..... Stoc Pref. as to assets and dividends (8 p. o. gold, cum.) lstmortg a ge, g old _________________ -·-------------·-. -- .c• i892 1,000 4lgg. 3,686,000 1,000 1,500,000 4½g. 1,000 480,000 6 500&0. 500,000 ---6-.£200 193,000 1,000 11,500,000 7 1,000 2,712,000 5 2,353,000 ··---· AILROA D COMPANIES. 1,000 1,250,000 5 g. 500 750,000 6 g. 500 &c. 1,495,000 4 g. 100 27,750.000 100 1,500,000 100 ·ieit. 1,885,005 500 3,000,000 6 g. ·-·--- -----see 100 100 100 100 Lehigh Coal & Navigatlon.-Owns canal from Coalport to Eas-1 ton, Penn., 48 miles, and leases Delaware Division Canal, 60 miles. Also owns Lehigh & Susquehanna Railroad, Phillipsburg, N. J., to Union Junction, Pa., 105 miles, with branches, 56 miles, and leases for 999 yea.rs Nesquehoning Valley Railroad, 17 miles; Trescow Railroad, 7 miles; other lines, 17miles; total, 202 miles, of which 115 miles double tracks; bnt all these roads are leased for 999 years from 1871 to Central of New Jersey RR., rental bein~ 3313 per centof gross earnings, with a minimum rentalof$1,414,400. Delaware Div.Oanalisleasedfor99years from 1866 at interest on the bonds and4 p. o. on stock, paid as rental. BONDS.-Of the second mort. on the Canal Coal & RR. and 1 st mort. on Nanticoke RR. bonds, $1,842,500 were extended at 4 p. c. to 1914. -V. 64, p. 1001-see extension contract in V. 65, p. 367. Of the balance, $2,310,000 were paid by Central RR. of N. J. Dec. 15, 1897, and $:>00,000 (assumed by the Lehigh & Wilks barre coal Co.) were extended to June 1, 1900-see V. 65, p. 1114. The general mort. of 1884 (trustee, Fidelity Insurance Co. of Phila.) covers, subj. to prior bands, 7,460 acres coal land, 48 miles canal and 161 miles railroad; bonds are reserved to retire all prior issues not assumed by other companies; ground rents and mortgages, $358,433. The $2,000,000 of 6 p. c. bonds which fell due Feb. 1, 1897, were extended in gold at 4 p er cent to April 1, 1914. Trustee of the extended bonds ts Fidelity Ins. Tr. & S. D. Co., Phila.-V. 64, p. 41. As to collateral ti ust bonds of 1895, see full statement to Phila. Stock Exchange. (V. 61, p. 154.) DIVS. since 1887. i 1888 '89 '90 '91 '92 '93 '94 '95 '96 '97 Per cent_, ___ -· ___ 5 4½1 5 5 5 5½1 6 412 4 4 4 ANNUAL REPORT.-Report for 1896 was in v. 64, p. 371. Coal produced from company's property was, in 1896, 1,549,097 tons; in 1895 1,521,695 tons, against 1,386,482 tons of coal in 1894, Year ending Dec. 31. 1896. 1895. 1894. From railroads and Nesque. Tunnel$1,550,625 $1,610,074 $1,485,515 Canals, __ ._._ .•. _... _... __ ...... _... _. _loss 16,060 loss 2,976 loss 16,927 Net profit on Lehigh Coal..··-- ___ -·· 226,946 loss 11,763 273,099 Koyalty on coal mined and misceL_ 136,768 97,543 97,045 Total receipts_ ....•• _..• __ •. __ .. _$1,898,279 $1,692,878 $1,838,732 Interest, rentals, taxes, &c_ -····· ___ 1,339,730 1,253,947 1,202,825 ----- Surplus . .... ................. _....... . $558,549 $438,931 $635,907 Dividends- ....•..••..••..••. _·· ·- ··- (4)573,866 (4) 573,866(4121645,599 Balance_ .• __ .....•.....••...... _.. . __ def. 15,317 df.134,935 def. 9,692 Sinking fund.-·. ___ ....••.. -· ... _.. -· 95,816 $95,994 99,265 -(V. 65, p. 367, 1114) Lehigh & Wilk.es barre Coal.-Controlled by Central RR. of New Jersey and owns 21,000 acres of anthracite coal lands and holds 3,000 additional acres under lease. It.operates thirteen collieries and leases about 4,000 acres of its coal lands to various individual operators. STOCK.-$10,000,000, of which $9,2i2,500 out11tanding, $6,600,000 of this being owned by Central RR. of N. J. In 1896 mined 2,401,451 tons. BONDS, ETC.-Of the consolidated mortgage seven per cent bonds only $54,000 are guaranteed by the Central RR. of N. J., the holders of the other bonds having freed that company from liability therefor, on condition that it shall not collect interest on the $6,116,000 consols which it holds prior to their maturity unless such interest is earned, this agreement bemg stamped on the bonds. The authorized issue of consols is $15,000,000, but those unissued are in reality unavailable, since by the terms or the agreement Just mentioned they would not if issued be entitled to stand ahead of the consols owned by the Central ot N. J. A sinking fund for bonds due rqra is provided from sales of surface lands and from 10 cents for each ton of coal mined on property included in the tirst lien; no drawings. Real estate mortgage 6s, March, 1897, $10,000. Lehigh C. & N. 6s assumed were extended Dec. 15, 1897, to 1900. --(V. 65', p. 1114.) GENERAL FINANCES.-The Central of N. J., on Jan. 1, 1897, owned $2,353,000 of the incomes and $5,472,552 consol. mort. coupons past due but not collectible, as above stated, till June, 1900. Billa payable outstanding were $3.400,224; "other indebtedness·•. $3,236,· 990.-See V. 64, p. 466. [n May, 1897, President Maxwell stated that the L. & W. Coal Co. had no floating debt other than that due the Central RR. of N. J., excepting $375,000 borrowed money-see Cent. RR. item V. 64, p. 1041. ANNUAL REPORT.-Flscal year ends Dec. 31. Report for 1896 was given in V. 64, p. 466, and comparison is made with 1893, the last previous report, viz.: Gross. Net. Interest. Sink. Fund. Ralance 1896 __ , __ $8,385,447 $524,508 ,r~745,828 $227,662 def. $148.979 1893 .. _.• 11,088,211 1,435,630 '- --$986,601- _...., sur. 449,029 ,r Interest charges in 1896 do not include interest on consols held by Central of :Y. J. RR., on which no interest has been paid since 1893. President, J. Rogers Maxwell. -(V. 64, p. 466; V. 65, p. 1114.) Louisville Bridge Co.cS R ·1r d C omparues. · .Louisville&: .Jeff'erson Bridge.-5 ee ai oa Madison Square Garden,-See page 159. lUanhattan Beach Hotel & Land Co,-See p. 159. Marsden Company.-Incorporated in February, 1897, to manufacture products from cornstalks-se V. 65, p. 235, for u eR or product. An additional $1,000,000 of preferred. wit½ a boons of $5,000,000 common, was iRR11ed in January, urns, to orovide for new plants, etc. ( V. 65, p. 235, 327, 463, 729, 1024, 1174; V. 66, p. 134.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Q.-F. M.& S. J. & J. J. & D. M.& N. Q.-M. M.& N. ----· do do do do Phlla., 108 So. 4th St. Phila.,L.Uoal& Nav.Co. New York and London. New York and London. New York and London. -- -------· May S~t. J y June May June Nov. 1, 1, 1, 1, 1, 1, 1, 1924 1905 1898 190(), 18!j9 1900 191 2 -.. -..... M.&N. May,'97,pcl Dec. 27,'97. Nov. 1, 1919 M.& N. Nov., '96, paid Feb.,'97. Nov. 1, 191 9 M.&N. 4 yrs. int. fu,.d . See text Nov. 1, 1940 ...... ........ .·-· ·--· 2 J. --&-- J. New York, l B'dway. Jan: J. & J. N.Y.,Lond.&Ams'dam. l Jan. 1. 191 2,000,000 10 in '97 Q.-J . N. Y., Office, 37 Wall St. 2.000,000 . ...... N. Y. Guar. Trust Co. 5,000,000 Various. do do ···5··g M. 2.000,000 & S. do do -3,- ;9s: Jan.13,'98, 2 Oct. 1, 18 Nov.l 7,'97,1 Se p t. 1, 19 Maryland Coal Co.-Coutrols 6,000 acres or land in Alleghany and Garrett counties, Md. STOCK.-Preferrecl as in table, and in addition old common, $11,100, and treasury stock, $103,895. The last of the bunds were paid off in 1897. Coal produced was: 359,624 tons in 1896; 449,234 tons in 1895; 351,374 in 1894. Annual report for 1896,. with balance sheet, was in V. 64, p. 372. Surplus earnings in 1896 over interest, etc., were $95,506; in 1895, $114,045; $77,596 in 1894; dividends in 1896 (3 "'l p. o.l called for $65,944, leaving bal. surplus foryear $29,562. On new preferred in July, 1893, paid 21.g p. c.; in 1894, 3½1 p. o.; in 18~5, 4½1 p. c.; in 1896, 5 p. c.; in 1897, 4 p. c.; in 1898,. Jan., 2 P,C, (V. 62 , p. 455 ; V. 6 !, P• 3 7 2; V. 65 , p. l071. ) Merganthaler Llnotype.-V. 63, p. 115'7; V. 65, p . 729, 86'7 , Metrop •lltan Telephone & Telegraph CoDlpany,-In July 1896, absorbed by the New York Telephone Co.-which see. Mexican Telegraph.-Company organized in 1878 under laws o:I New York State. Has a cable from Galveston to Tampico and Vera Cruz. 738 miles; land line, Vera Cruz to Mexico City, 267 miles. Also direct cable from Galveston, Texas, to Coatzacoalcos, Mexico, 825 miles. duplicating the Mex. Tel. and Oen. & So. Am. Co.'s Gulf cable system. Owns 2,125 shares of the Central & So. A.m. Telegraph 0.,.. , which see. The Pacific Cable Co., which is to lay a cable between San Francisco & Japan, China, etc., was organized' in 1895, and will operate in close connection with the Mexican Tel egraph and the Central & South Aruerican Telegraph. (V. 66, p. 184.) DIVIDENDS-In 1882 to 1886, inclusive, 8 per cent yearly; from 1887 t u., 1898, both inclusive, at rate of 10 per cent per annul.Ii. EARNINGS.-Surplus Dec. 31, 1896, $592,735. Gross earnings t.01: year 1896, $3f.i9,618: net, $286,037; dividends, $191,260; bal. sur. for year, $94,777. In 1895 gross, $340,631; net, $273,241. J. A. Sorymser, President, 37 Wall St., N. Y.-(V. 62, p. 682.) Michlgan•Peniosnlar Car Co. - ORGANlZATION, ETC. -All Illinois corporation formed in 1892 by consolidation of several Detroit companies, with an aggregate capacity of 100 freight cars a day-. Business established iu 1864. Stock and bonds listed ln New York m January, 1893; see application in full in V 56, p. 208. DIVIDENDS.-1892, '93. '94. '95. '96. ' 97. Common,p. o._ o 8 o o O o Preferred. p. c. 2 6 0 1 4 1 Ove1due on preferred in December, 1897, 28 per cent ($1,350,000). NET EARNINGS.-For year ending Aug. 31, 1897, net earnings were $176,668; interest, $100,000; div. on preferred, $50,000; bal. surplus for year, $·l6,668. In 1895-96, n et $396,572; interest, $100,000; dividend on preferred ·200,000; balance, surplus, $96,572. President, Frank J. Hecker. (V. 61, p. -!72, 10 l t; 'v. 63, p 651; V. 65, p. 868. > Minnesota Iron Co.-Owns about 40,000 acres of land and 7 iron mines in St. Louis, ItaRca and Lake counties, Minnesota; also $500,000 stock and $4,500,000 second mortgage bonds of Duluth & Tron Range RR. Co -which see. Also in July, 1896, owned nine large a\;eolsteam~rs and f .ve steel barges costing about$2,500,000. DIVIDENDS. ( 1890. '91. '92. '93. '94. '95. ' 96. '97. Per cent. 5 3 6 6 3 0 0 3 0 National Lead Coinpany.-ORGANIZATION.-Organized under the laws of New Jersey on Dec. 7, 1891, as successor to the National Lead Trust. It controls 26 extensive plants in di.tferent States for the manufacture of white lead and other products. Only $192,000 certificates or the old trust were outstanding December 1. 1895. SECURITIES.-The preferred stock is entitled to 7 p. o. per annum cu mulative. Seeeditor1alof May, 1893,SUPPLEM:ENT, and V. 60, p. 349, Debenture bonds have been authorized but none issued. DIVIDENDS.1892. '93. '94. '95. '96. '97. ' 98. C'.>mmon, p. c._ 0 2 3 1 0 0 Feb., 1% Preferred, p. c. 7 per cent yearly (1 34 Q·M to Dec., 189'7, inclusive). ANNUAL REPORT.-Fiscal year ends Dec. 31. Annual meeting is held on a, Thursday in-February. The annual report for 1896 in V. 64, p. 372, gave the following statement: Net earnings, $1,174,994; dividends, $1.331,425; balance, defl.cili, for year, $156,431. In 1895, net, $1,281,261. In 1894, net, $1,212,258. GENERAL BALANCE SHEET DEC. 31, 1896. Plant investment ___ .. $23,462,6741 Capital stock_ ... _·- ... $30,000,000 Other investments_... 236,2 lS Surplus Dec. 31 _. ____ •• 604,669 Stock on hand ________ . 4,587,594 Mortgages ________ ·-___ 12,603 Treasury stock________ 190,600 Accounts payable_____ 74,904 Cash in banks _. __ .• _ 503,395 Notes receivable,.·--·· 246,287 Accounts receivable__ 1,465,408 Total assets. __ . __ -$30,692,176 Total liabilities ___ -$30,69i,l 76 DIRECTORS.-W. H. Thompson, E. C. Goshorn, F. W. Rockwell, L. A. Cole, R. R. Colgate, A. P. Thompson, D. B. Shipman, J. A. Stevens, George 0. Carpenter, Jr., Edward F. Beale, Jr., J. L. McBirney R. P. Rowe and Charles F. Wells. OFFICERS.-Preaident L. A. Cole; J. L. McBirney, Treasurer; Charles Davison, Secretary. N. Y. office, No. 1 Broadway.-(V. 62, p. 362; V. 64, p. 3'72.) National Linseed 011.-This company, incorporated in 1887 1mder the laws of Illinois, acquired all the property of the Linseed vil 1.'rust, consisting of the real estate, machinery, patents, etc. Now owns 35 linseed oil mills, 37 flaxseed elevators and warehouses, etc., situated in many cities of the lJnited States, including Chicago, St. Louis, Minneapolis, etc. Its products consist of raw, boiled and refined linseed oil and oil meal and oil cake-used for stock food and fertilizer !NVESTORS' SUPPLEMENrl. fVoL. LXVI. Snbecrlbere urlll conCer a great favor by giving Im.mediate notlc.- of any erl"or dlecovered In tbe111e Tablea. MU:!OELLA1'1EOUt:!. Date 8ize, or Amount [NTEREST OK DIVlDEND8. ~oncts-.rrmu1• ~ - -- - - -- - - - - - - - - - pal,When Due, For explanation of column headings, Ito., see notes on Boonfds Vpalaure. Outstanding RaCteenpt.er When Where Payable, and by Stocks-Last ,------,---- - - - Dividend. $100 $16,500,000 N. Y., Mills Building. July 15,'96, 112 ··-··· Q.-J. 100 14,905,400 ..... N. Y., 100 Willia m St. Feb. 15,'98,l % 100 14,904,000 7'iii•97 Q.-M. do do Deo.15,'97,1::\i. 100 18,000,000 "1hicago, Offloe. 16, 1895 ·o. N.Y.C:ent. Tr.,& Chicago Sept, 1,500,000 1,000 6 g. Oct. 1, 1911 100 2/~19,400 4 in'97 M.&N. N. Y., Office, 1 B'way. Nov. l, '97, 2% 1,846,800 & J. 100 do do Jan., 1893, 6% ...6.g. J.M.&N. 1,000 a3,837,000 N.Y.,ChaseNationalBk. May 1, 1920 Q.-J. 100 Text New York. 7,500,000 July 1, '97, 2% ... . ... See text. F ...&...A. N". Y., C-entral Trust Co. Aug...i,..i899 1,000 1,000,000 6 2,500,000 do 1,000 5 g. M. & S. do Mob. 1, 1932 M.& N. do 500,000 5 do 1891-1906 3,500,000 5 g. J. & J. N.Y.GuarantyTrustCo. Jan. 1, 1944 1,500,000 1,000 5 g. J. & J. N. Y., Kniok'b'r Tr. Co. Jan. 1, 1945 .. ...... ...... 8,005,200 5 g. (1) 3,000,000 . ..... N.Y.,H.B. Hollins & Co. ...... 5 g. 19~7 100 New York Office. 5,000,000 Jan. 24, 1894 Sem.'i:an 14 ,000,000 New York. 1947 ··ioo 11,434,500 519fn?97 Q.-F. Boston, 125 Milk St. Nov.15,'97,112 A.. & 0. Boston.Bank of Repub. Apr. '99-1900 1,000 959,000 6 A.. & 0. 1,000 1,500,000 do do 6 A.pr., 1906-7-8 A. & 0. Bost • Nat. Bk. Com'rce. A.pr.1915&'16 1,000 850,000 5 15J.&J. I. E. Gates, 35 Wall St. Apr. 15, 1990 1,000 2,000,000 5 1,000 600,000 J. & J. do 5 do Apr. 15, 1937 ·----- A:·&: i:ooo -and it is said to employ in the manufacture of these t'rom 60 to 70 per cent of the country's annual orop (of ten to twenty million bushels) of .flaxseed. Stook listed in N. Y. in September, 1890. See v. 51, p. 348. DIVIDENDS.-ln 1888, 314 p. o.; in 1889, 4 p. o.; in '90, 4 p. o.; in '91, '212 p. o.; then none till Se-pt., '95, when 1 p. c. was paid. BONJ\S.-Mortgage of 1896 is for $1,500,000; trustee, George Sherrman, N. Y. City; sinking fund of 3 per cent of outstanding bonds paid July 1, 1898, and yearly_thereafter, and bonds can be dra~ therefor at 105. Proceeds to retire debentures and for worlnng capital. ANNUAL REPORT.-Fiscal year ends Dec. 31 (formerly July 31.J Annual meeting third Wednesday 01 February. No figures for the year 1896 were given out, but for statement made to stockholders see · V. i4, p. 468. Report issued in February, 1896 (V. 62, p. 275), covers 17 months to Deo. 31, 1895, showing gross profits, $1,178,689; net ,profits, $479,689; dividend, $180,000; balance, surplus, $299,689. DIRECTORS.-Alexander Euston, President; W. P. urr, Samuel Thomas, A. C. Abbott, Marcus Simpson, A. O. Hall, Charles Hodgman, J. P. Keiser; T. G. Mcculloh, Secretary and Treasurer. Executive offices, Old 'Colony Building, Chicago, lll. -<V. 64, p. 330, 468.) National Starch.-Incorporated in February, 1890, under the laws of Kentucky, to own properties aapable of producing t'rom 230 to 240 million -pounds of starch yearly. The twenty concerns whose plants, trade marks, patents, business and good will it purchased were located in the States of New York, Ohio, Indiana, Illinois, Iowa and Kansas. The preferred stocks have preference as to principal as well as dividends. Wording of pref. certificates was in editorial of May, 1893, SUPPLEMENT. Annual meeting first Wednesday in February. No report. STOCK.-Common authorized, $5,000,000; outstanding, $4,450,700. '97. '96. '95. '94. '93. 1890 to '92. DIVIDENDS.4 4 0 0 4 1st pref. stock.... . 8 yearly O . O O 0 6 2d pref•............ 12 yearly -Common .. .....•... In March. 1891, paid l p. c.; none smoe. In Jan., 1898, dividends in arrears: 1st pref., 30 p. c.; 2d pref., 64 p.o. DIRECTORS.-W. F. Piel, Jr., President; William Duryea, Chester w. 'Chapin, Charles C. Burns, Secretary and Treasurer; W. Emlen Roose·velt, John Duryea, Alex H. Stevens, J. K. O. Sherwood, Willett H. C. •Coles, Albert Erkenbreoher, Clifford B. Wright, H. R. Wood, Vioe-Pres., ,John G. Agar, HenryW. Piel, Louis T. Duryea,William F. Piel, Riobard Johnson, A. R. Beardsley, Fred M. Gilbert, Chas. Lautz, F. C. M. Lautz, New York office, No. 1 Broadway. (V. 54, p. 643; V. 56, p. 247, 1015.) National Wall Paper Co.-Organized July, 1892, and absorbed ·twenty-eight companies. In February, 18971 President Burn testified ·before thf\ Lexow Committee at New York tnat there were about 17 companies outside the National Co., and that the National Wall Paper Co. did about 65 per cent. of the wall pa.per business; in 1896 turned out about 120,00o,OOO rolls of paper.-V. 64, p. 1088. STOCK.-Common stock was originally $14,000,000, but has been in· . creased to $30,000,000; issued $27,931,500 for good will, patents, eto. Dividends.-To January, 1898, no dividend had heen paid on debenture stook since July, 1897. The following general balance sheet was filed in March, 1897: $768,458 Common stock .....•.. $27,931,500 Buildings.............. 8,851,822 2,409,467 "Debts".............. Machinery............. 635,390 3,618,254 Rese1ves. ... .. . .. . .. .. ,cash ana obts reoeiv. 2,275,45~ Merchandise.......... Patent rights . ........ 28,231,500 115,585 . Miscellaneous ...•.• __ . Total liabilities ..... $37,418,712 Total assets ......... $37,418,712 N. Y. office, 418 Broome Street. (V. 64, p. 1088.} New Amsterdam Gas Co.-Incorporated Nov. 1, 1897, a s a consolidation of N. Y. & East River and Eq_ultable Gas Light, as per plan in V. 66, p. 133. The new company 18 to issue $13,000,000 of common stock, $10,000,000 of 5 p. o. preferred cumulative after Nov. 1, 1900, and $i0,000,000 of 1st oonso). 5 p. c. bonds, of whioh $~,000,000 reserved to retire bonds of the old companies, to be assumed by the New Amsterdam and shown in the table abuve. DISTRIBUTION OF NEW SECURITIES.-Rtocks of old companies receive new securities a follows. The old bonds are left undisturbed: New Oom. New New New For each $100 share of- 1st cons. pf. stock. com . stock. for A.ctty'e $17·:io $75 75% Equitable stock, $4,000,000 150% N. Y. & East River Gas: -- - Pref. stock, $1,671,000 . .. 120% 40 100% Com. stock, $5,000,000 . .. .•••• . Securities in Treasury.-New consol. 5s for $2,994,800, preferred stock $1,000,000 and common $1,000,000, will remain in the treasury after consolid a tion, available for future needs. The plan has recei ved the unanimous recommendation of the dir('Ctors of both companies and also of J.P. Morgan & Co. Opportunity is given to depositmg stockholders to withdraw their stook wit hin one week aft~r Feb. 5 if the y do not a ssent to the terms proposed, but plan will go through if two-thirds in interest of the stockholders of eaoh company assent.-(V. 66, p. 83, 133.) New Central Coal (If.ld.)-See p. 159. New England Gas & Coke.-Formed in 1897, a nd contracted with the Dominion Coal company, whoi,e mines are in Nova Scotia, to siwply it with a large amount of ooal (800,000 tons or over p e r annum) at a very low rate. Tbis coal it proposes to turn into ook:e, selling the gas, which would otherwise be a waste product, at an ex traoroinarily low price (20 cents per 1,000 feet} for heating as well as https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Whom. Payable first page of tables. Minnesota Iron Oo.-Stock ........•............•..... . ....• . .•. Natwnat Lead Oo.-Stock, common, $15,000,000 auth'd,. . ••. Preferred stock (7 per cent, cum.) $15,000,000auth.... . .•. National Linseed Oil-Stock (listed in N. Y. In Sept., 1894) .Mortgage, gold, $1,500,000 (drawn for s. f., 105) ..... c* i896 tfational Starch-lat pref. stock, cum. 8 p. o. ($3~000,000).. . .•. 2d preference stock, cumulative, 12 p.cent (<112,500,000> 1st mortgage,(for $4,500,000}, gold............ . ......... i890 .National Walt Paper.-Debem.ure stock, $8,000,000 8% .. . . . . ...V. Amsterdam Gas-Stock $23,000,000 ($10,000,000 pf.) ... . Equita ble Gas Ligh t , 1st mortage........................ . .. . consolidated mortllage. ...... .....•..•..... ... ... ...... . .. . D e bentures (rail May 1, 1901 ... .. . . .. . . ... . . . . . .. . . .. 1896 .New Yor k & Ea t Riv e r G a s 1s t mortgage, gold ...... e* 1894 1st consolid a ted mortgage ($5,000,UOO), gold ....... c* 189:5 New Amsterrl a m 1st con oJ. m'?rt., gold, $20,000,00u .. 1898 ·Central U nion Gas, guar. p. & 1., N. Y . & E. R. .. . . . . . . . 18b7 New Oentrat Ooat-Stock............ . ....................... . .. . :New Engl'd Gas <t Coke-1 st mort., $17,500,000, gold.C .. 1897 New Enytand Telephoned Tetegraph-Stook, $12,000,000. . .•. Bonds, 1st & 2d Ser., each $500,000 (red. up to 102} . .. c '89-'90 Bonds, Ser. 3, 4 & 5, $500,000 ea., oa.llaft.10 yrs. at102 1891-3 Bonds, Series 6 & 7, ~500,000 eaoh, not subject to call . . 1895-6 Newport News Shipbwi,lcting <t Dry Dock.-lst mort ... o*&r 1890 Chesapeake Dry: Dock & Construction 1st mortgage.... 1887 New York Bisciiit Oompany-SEE u. 8. BISCUIT. a Of these $607,500 held in sinking fund in Oct., 189 7. ·-----·--· li ght ing purposes. The company bas acquired the charter obtained in 1890 by tb e Massaohusttts Pipe Line Co. The new compa ny purcha ed pratth·ally all the stock of the Brookline, 1Jorohester and Jamaica Plain Ga s Light Companies, which purchase carries with it the control (throu~h right to vote tbe stocks depo ited as security for 1 be Boston Urnted Gas bonds-see Bay State Gas tatement p age 158 of the Bay State Gas Co. of Massachusetts, the Bo ton Gas Light Co., the South Boston Ga Light Co. and the Roxbury Gas Light Co.; briefly, all the gas companies in Boston. STOCK AND BONDS.-Capital stock authorized is $17,500,000; to be issued, $14,000,000, par (1.) First mortgage is for $17,500,00C, of whioh $14,000,000 have been issued and are secured by a mortga~e on all the compa ny's property (coke even<", l a nd, eto.J, and by pledge of the following s ecurities : Pledged. Total Issued. $1,850,000 Brookline Gas Light stock .........•••...... $2,000,000 1,615 ,000 certificates of indel}tedness.. ... 1,615,000 " 517,600 520,000 Dorchester Gas Light stock. . . .............. 1,000,000 Boston United Gas bonds, 1st eries . .••••• 9,000,000 138,200 250,000 Jamaica Plain Gas Light Co ................ Ali. (1) Ma sachu ett Pipe Line Co................ E ARNINGS.-Statement of the earnings of the several companies com· posing the New England Gas & Coke Co. for year ending June 30, 1897, with balance sheets for each, was jliven in V. 65, p. J 112, showing total sales of gas for the year a,391,244,000 feet and gross earnings of $3,049,574. The pros pectus of the new company was in V. 65, p. 1221 (see also p. 1115) showing expected income as follows: Gas companies in proposed purchase earned net for year 1896 in excess or... .................... . . • . . . • . . . . . . . . . . . . . $460,000 248,500 Estimated profit on coke and on gas residuals................ 500,000 Bale of 2,500,00<',000 feet of g a s at 20 cents, per contracts. 90,000 Saving by use of coal gas by .Brookline and Dorche ter cos ---- . .. $1,298,500 Total n e t profit . .. . . . . . . .. . . .. ... .... .• . .. ... . . . . Int erest on the $14,000.000 Ne w Eng. Gas & Coke Co. bonds 700,000 Balance for stock . ......................................... ,i,598,560 This income "will be applicable for dividends a s soon as the ovens oan be flnisb.ed, whioh will take a bout nine months." TRUSTEES.-Trustees of N. E. Gas & Coke Co. are a follows: George G. H a ven, Robert C. Pruyn, Stephen Peabody. W. L. Elkins, Jr., Willian J!"linn, H . M. Whltney, Henry F. Dimock, Wm. L Elkins, Anthony N. Brady, Emerson McM111in, Riehard Olney, Robert W. Lord, Almeric H. Pagt:t.-(V. 65,p. 1115, l221; V. 66,p. 82, 184.) New England Telephone & Telegraph.-Thls company does a telephone business in Maine, New Hampshire, Vermont and Massachusetts under license t'rom the American Bell Telephone Co. On January 1, 1897, it had 34,938 stations in all, against 31,159 in 1896 . STOCKAND BONDS.-In Sept.• 1897, Treasury stook for $1,039,500 was sold, making total out tanding $11,434,500. V. 65, p. 328. In Aug. '97, dividenas were increased t'rom a 5 to a 6 per oent basis. V. 65, p . 195. The bonds are debentures, but are to be secured by any mortgage placed on the property. 1897. 1896, 1895. 1894. DIVIDENDS,- ( 1886-93. 512 5 412 4 5 312 yearly. Per Cent. was 1896 for Report 31. Dec. ends year ANNUAL REPORT.-Fiscal in V. 64, p. 949, showing gross earnings $2,780,652; net over inter$508,180; o.) p. (5 dividends est, maintenance, taxes, eto., $604,935; balance, sur., for year, $96,755. (V. 65, p. 195, 328.} Newport & Cincinnati Bridge Co.-See RR. Cos. New York Biscuit Com.pany.-See United States Bisolllt and report of Chloago Stock Exohan&e Committee in August, 1896, in v. 63, p. 357. On Jan. 1, 1897, bills payable were $770,034 CoNSOLIDATION.-ln January, 1898, it was arranged to consolidate with the United States Biscuit Co. on the basis of $6,500 in cash, or $2,600 cash and $3,900 new prefen-ed and $3,9UO new common for each $10,000 of N. Y. Biscuit stock, the bonds to be paid off.-See de' tailR in V. 66, p. 82, 134. DIVIDENDS.- ( 1891. 1892. 1893. 1894. 1895. 1896. 1897, 0 3 O o 1 6¾ 5 11 Per cent. ANNUAL REPORT.-Statement for 1896 in v. 64, p. 662. Net. Gross. Net. Gross. 1893 ........ $1,793,860 $411,910 1895 ........ $2,046,387 $633,080 558,060 m 545,390 1896.. ... . .. 1894. _...... 1,941,714 OFFICERS-President (in Jan., 1897), Henry J. Evans; Treasurer, George H. Webster. Ma.in office, Chicago. Ill. ( v. 66, p. 82, 134. New Vork & East River Gas Co.-Supplies gas in N. Y. City through tunnel 2,541 feet long from Ravenswood, L. I., under East River. See pending consol. New Amsterdam Gas. Oentral Uni on Gas Oo.-see V. 65. p. 112, 462. STOCK.-Dividends-On preferred in 1897, July, 3 p. c. (first dividend). President, A.ugust Belmont. Office, 32 Liberty St., New York. -v. 66, p. 39, 83, 133. New York & East River Ferry.-Owns the "Astoria" Ferry between Astoria1 L. I., and foot of 92d St., New York, and has three ferryboats. Ca.pita1 stock, $750,000; dividends are payable Q.-M.: 1n 1895, 3 p. c.; in 1896, 4 p. c.; in 1897, March, 1 p. c; Jun"', 1 p. c.; Sept., 114 p. c.; Dec., 114 p. c. Mortgage trustee is Knickerbocker Trust Co .. New York. Directors (Oct., '96)-William A. Nash, Theo. F. Jackson H.K. Knapp, Emanuel Lehman and Roswell Eldridge. I JANUARY, 1898. J MlSCELLANEOUS STOCKS AND .BONDS 133 Subscribers -wi1J confer a great favor by e;lvine; lnunedJate notice of' any error dlscovered in these Table11. MISCELLANEOUS. F1>r explanation of column headings, &c., see notes on fl.rst page of tables. INTEREST OR DIVIDENDS. Bonds-Pr1no1 . D ate Size, or Amount - - - -- -- - - - -- - - -- - pal,When Due, of Par Outstanding Rate per When Where Payable, and by Stocks-Last Bonds Value. Cent. Payable Whom. Dividend. New Y01·k d.: East R iver Ferry-Sto ck , $750,000 . .... .. . . . . . . .. 1st mortgage, $750,000, gold- . . . . .. . .. . .. . .. . . . . . . . .. . . . 1 8 9 2 N . .Y.MutualTel.-Mutual Un.Tel. lstM.,g.,~u.,notdr'n. c 1881 New York d.: New Je1·sey Telephone-Stock, $5,000,000... .... Gen.M.(nowlst)$1,500,000,g.,s.f.$20,000y'rly,notdr.c* 1890 Y.d:Onta1'ioLan d-1stM.,$600,000,g.,red.atll0 .c* 1890 N. N. Y. Telephone.-Met. T. &. T., 1st M., g ., s. !. . .. .... . c&r 1 888 :Vew Yorlc d.: Texas L a nd-I t M ., $500,000, g ., red. 10212 1897 Niagara Falls Power 001npany-Stock for $10,000,000. . lstM.,$10,000,000,g.,coup.J&J; reg.$500,Q-J.c&r isifr 'f'1orth. A.merwa~Stock for $50.000.000..... . ..... . . .. . . . . . . .. . Nor,hern Union Gas (N. T.)-1 t M., $1,500,000. g .. K.c ... 1897 Northwestern Tel.-Stock, 6 p.c., gua.r. West.Un . ........... .... 1st mort., sink. fund, bonds not drawn, interest guar.c' 1874 .... Preferred stock, 8 per cent, cumulative, gold.... . ...... .... 1st M .. gold, $20,000 per an., subj. to call at 105 . .. c*&r 1892 Pac,-if tc Ooast Oo.-Stock, common, $7.000,000 . :······ .... .••. 1st preferred stock, $1,525,oOO, non-cumula~ve........ .... 2d. preferr d sto ck, $4,000.,000, non-cumulative........ . . . . Mortgage, $5,000,000, g ola ..... . ........... . . .. ......•. c* 1897 Ohio Falls Oar Manufacturing Oo.-Common stock...... Pucijtc Mail Steamship-Stock....... . .................... . .... Pennsylvania Oanat-Gen. M., $5,000,COO, int. guar... c* 1870 Pennsylvania ()oat-Stock.................................. .... Penns11lvania Heat, Light~ Powet·-Com. stock, full paid. .. .. Pret: stock {in May, 1897, $35 paid) 6 p. c. cum. . ...... . ... Trust Certifl.cates, gold (Edison stock as collateral)... . 1896 $100 $750,000 412 in '97 Q.·-M.15 B'klyn , Kin gs Co.Tr.Co. 1,000 750.000 5 g. M. & N. do clo 1,000 5,000,000 6 g. M. & N. N. Y., West. Union Tel. 100 5,000,000 7 in ' 97. Q.-J.15 Brooklyn, 16 Smith St. 100 1,261,000 5 g. M. & N. N. Y., Atlantic Tr. Co. 500 565,000 6 g. F. & A. N.Y.,CentralTrustCo. 1,000 1,961,000 5 g. M. & N. N. Y., 18 Cortlandt St. 1,000 4 00,000 5 g, J. & D. N. Y., 2 W a ll Street. 100 2,928,000 .. . . ... . . . . . . . 500,&c. 6,991,000 J.".& J. N. Y'.MillsBuilding. 100 39,733,600 ... . .. M.· .& .. ·N. N. Y., Kni . . :c·k··e·r·b· ·. T1·. Co. 1,000 1,250,000 5 g. 50 2,500,000 € J. & J. N. Y., West. Un. Tel. Co. 500 1,180,000 7 J. & J. do do 100 400,000 ...... yearly. N.Y., Maitland, C.& Co. 100 800.000 8 g. Q.-J. .lo do 1,000 520,000 6 g. A.. & 0. do do 100 (1) ••• ... ..... .......... 100 5 100 (1) 4 .. . .. . .... . - . . . 1,000 4,500,000 5 g. J. & D. New York. 100 20,000,000 See text J. & D. N. Y. Mercantile Trust. 1,000 2,519,0()0 6 ,T. & J. Phila.,BroadSt. 3tation 50 5,000,000 21 in '97 Q.-F. New York, 1 Broadway. 50 5,000,000 See text. A. & 0. Checks mailed, 50 5,000,000 See text. A. & 0. do do 100 &c. abt. I,QOO,coo 5 I?· •. ••• Philadelphia. New York & Ne-w .Tersey B1·ido-e Co. N. Y.-Organized to build a suspension bridge across the Hudson River from between 59th a nd 60th Sts., N. Y. City, to New Jersey. President, James S. Clarkson; ecretary, C.H. Swan. Office, 214 B ' way, N. Y. (V. 65, p. 621, 1115.) Ne-w York & Neur .Tersey TeJephone.-Operates telephone lines under perpetual license from the Bell Company in Staten Island, Long Island (including Brooklyn), in New Jersey in counties of Bergen, Essex, Hudson, Middlesex, Monmouth, Morris, Passaic, Somerset and Union. Its total stations on Jan. 1, 1897, were 14,333 (of which 6,818 in Long Island), 11,883 in 1896, 10,102 in 1895 and 9,671 in 1894. STOCK.-ln February 1894, increased from $2,535,000 to $3,500,000 and in March, 1896, to $5,000,000, for improvements-see V. 64, p. 515 BoNDs.-General m01·tgage of 1890 is now aji,rst lien. Generals for $150,000 and $396,900 of stock were held on treasury on Dec. 31, 1896. for improvements, etc. Trustee gen. mort., Atlantic Trust Co. Bills ·p ayable Dec. 31, 1896, $50,000; real estate mortgages, $121,500. DIVIDENDS.- t 1892. 1893, 1894. 1895. 1896. 1897. Per Cent. 5 6 6 7 7 7 7 In 1898, Jan., 212 p. c., of which 1 p. c. w a s ex tra. An extra dividend of 1 p. c. is usually p aid in Janua ry, makitig 7 p. c. EARNINGS.-Report for year ending Dec. 31, 1896, was in V. 64, p. 515, showing gross, $1,554,585; net, $477,731; interest, taxes, etc., $107,268; dividend , $253,365; balance, smplus, $117,0l:18. In 1895, gross, $1,405,882.-(V. 64, p. 515.) New York & Ontario Land Co,-Organized in 1889 in interest of New York Ontario & Western RR. Co. to acquire anthracite coal lands in the Lackawanna Valley, ••aizgregating about 855 acres," and estimated to contain at least 7,000,000 tons of coal. The coal is leased t o the New York & Scranton Coal Co., minimum production to be 300,000 tons yearly, and is all haule.d by the N. Y. Ont. & W. Bonds redeemeg_, $35,000, sin Ring fund being 6 cents per ton of coal mined; trustee, ventral Trust Co., N. Y. See V. 50, p. 105. New York Susquehanna & Western Coal.-See page 157. Ne'W' Yo1·k Telephone.-In 1896 this company took over the businesl;! of the Metropolitan T. & T. Co, with exclusive rights under a perpetual license froIU the American Bell Telephone Co. to the telephone business within the city or .New York and its suburbs, its territory having a radius of 33 miles from the New York City Hall in all directions) and the Westchester Telephone Co. (V. 63, p. 30.) The ~et. T. & T. bonds were assumed. Dividends. OFFICERS.-President, Charles F. Cutler; Secretary, John H. Cahill 'T reasurer, William H. Driver. (V. 63, p. 30, 229.) Ne-w York & Wllkesbarre Coal.-See page 157. Niagara Falls Po'W'er Coinpany.-Organized in 1886 and un der special acts of New York State has authority to use the water of Niagara River for developing power at Niagara Falls, and also to transmit any power, heat or Light developed from such water to practically any point in New York State. Its hydraulic works, with a cap• a city of 100,000 horse power, have been constructed and include the building of 7,000 feet of tunnel, with intake canal, wheel•pits_., etc. The company has 1,071 acres of land. The tunnel was first usea January, 1894. See editorial V. 61, p. 46. Buffalo (Street) Ry. obtains power from this company. (V. 63, p. 923, l.114.) STOCK.-Stock authorized by charter $10,000,000; by stockholders $3,500,000, an increase of $500,000 havin~ been authorized in June, 1897. Issued to June 30, lt)97, $2,923,000. BONDS.-Mortgage (trustee is Central Trust Co.) covers 1,071 11,cres of city property, tunnels, franchises, rights-of-way, etc. Agent is Cataract Con.struction Co. OFFICERS-Pres., Edward D. Adams; 1st Vice Pres. Francis Lynde Ste.t son; 2d Vice·Pres., Edwa!d A. Wickes; Secy. and Treas., W. B. Rankine, 15 Broad Street, N.Y.C1ty.-(V. 64, p. 234.) North A.inerlcan Company .-ORGANIZATION.-Organized in 1890 under laws of New Jersey, as successor to the Oregon & Trans-Conti• nental Co. Is interested in street railway and electric enterprises. MILWAUKEE ELECTRIC RAILWAY & LIGHT Co.-This company, controlled by the N. A. Co., owns the entire system of street railways and has exclusive franchise for distributing electric light and power in Milwaukee v. 62, p. 1136. See STREET RA.ILW AY SUPPLEMENT. CINCINNATI EDISON ELECTRIC COMPANY.-This company has secured the contract for the public lighting of the entire city of Cincinnati for eleven years and with it a valuable franchise for commercial lighting for the term of twenty years. Net earnin&:_s for year ending April 30, 1896, of Cincinnati Edison Co. were $70,0uO. CAPITAL STOCK.-The North American authorized capital is $50,000,000, of which only $40,000,000 has heen is sued, this having been ex. changed, share for share, for stock of the Oregon & Trans-Continental. A.NNuA.L REPORT.-Fiscal year ends May 31. Annual meeting is held in Jersey City on third Wednesday in June. Report for 1896-97 was 1n V. 64, p. 1179. No income account is given, only the following statement of May 31, 1897: ASSETS.-Milwaukee Electric Ry. & Light stock, $5,468,800; bonds, $100,000. Cincinnati Edison Ele ctric stock, $382,733; bonds, $105,000; 0ther stocks, etc., valued at $29,505; accounts receivable, $222,403; secured loans, $376,206; ca sh, $289,759. LIA.BILITIES.-"The com12any has no liabilities, except current expenses and an open account of $17,660." DmECTORS.-Edward Q.. Keasbey, John I. B eggs , C. W. Wetmore, s. W. Burt, J. Hobart Herrick, Nelson Robins on, G. R. Sheldon, Edward Edes, Henry C. Payne. Pre ident. C. W. Wetmore; Secr etary and Treasurer, Edward Edes; New York Oltice, 32 Broad St. (V. 64, p . 1179.) Northern Union Gas Co. (New York CUy,)-V. 65, p . 621. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .5.g. m . .... ........ .. D ec.15.'97, 1 14 Nov. 1, 1922 May 1, 1911 J a n .15,'98,2lg May 1, 1920 Feb. 1, 1910 May 1, 1918 D ec. 1, 1917 . ...... . Jan. 1, 1932 . ...... . Nov. 1, 1927 J a n., '98, 3¼ Jan. 1, 1904 July 24, 1893 July, '96, 2 % Oct. 1, 1922 . ....•.. . ...... . . ...... . June 1, 1946'· Dec. 1, '97, 1% July, 1910 Feb. 1, '98, 46,!. Oct.15,'97, 1 % Oct. 15, 1897' Aft. Apr.,194.6 Ileased Northwestern Telegraph.-Owns 8,000 miles of wire and is to Western Union for 99 ydar~. with guaranteed dividends, rising 1a per cent a year to 6 in 1897 and afterward. Ob.lo Falls Car Manufacturlng.-Seethis SUPPLEMENT, p . 157. Pacific C ast Coinpany.-This company controls thEI Pacifl.o Coast Steamship Company (owning its entire capital stock) and' operates fl.ve steamship lines runrung between San Francisco Portland, Victoria, Sitka, Fort Bragg, San Diel?O, &c. Also owns au thesecurities of the Columbia & Puget Sound RR (now sta ndard gauge), Seattle to Franklin, etc., with sidings, 57 miles, and its New Castle mine; the Pacifl.c Coast Railway (narrow gauge), Port Harford, Cal., to Los Olivos, 80 llliles; the Seattle & Northern Railway Anacortes to Harulton, Wash., 36 llliles; the Port Townsend Southern RR.; Port Town.send to Quilcene, Wash., 28 miles. and: Olympia to Tenino, Wash., 15 llliles; opP.rates the Franklin Coal Co. owrung the Franklin lllille, with 3,050 acres coal lands at Franklin and 2,083 acres at New Castle. See editorial V. 60. p. 954. HISTORY.-Succe ssor on Dec. 1, 1897, to the Oregon Improvemen Co. Sold in for t1closure unde r both fl.rst and consol. mortgages on • Nov . 6, 1897, and r eorganized p e r plan in V. 65, p. 412, .J.63. BOND .-New firsts for $521,900 are reserved for new steamships,. etc., at not over $100,000 per annum. New securities in oxch a nge: 0 · ,------ t nd receive- - - - - - Old secw'iliesPayA.ss. lstM5s . Ist pfst'k2dpf.st'k Oom.st'k 1st M. $1,000 b 'ds ....... None 110% ...... .•.... . .... . Consol. M. bonds ........ 1212% 1212¾ 60% 40o/oPret. stook ..... . ......... 1212% 1212¾ 60% 40% Common stock .. ......... 10% ...... 10% ...... 60 % , Fifth instalment of assessment payable J a n. 17, 1898. (V. 66, p. 83.} EARNINGS.-11 months, c1896-97 .. Gross, $3,508,546; net, $715,343' Dec. 1 to Oct. 31. 51895-96 .. Gross, 2,960,890; net, 293,053 Report for 1895-96 was given in V. 64, p. 284, 605. Improvement requirements for 1897 were estimated by the receiver at$2,170,000 . .Year ending Nov. 30 ....----1896.-----. ...--1895----Earni ngs- G1·oss. Net. Gross. Pacifl.c Coast 88. Co ... $2,275,234 $108,526 $2,237,579 Pacifl.c Coast Ry. Co... 117,259 13,037 127,266 Col. & Puget S. RR. Co. 260,154 123,738 263,054 Seattle & Nor. Ry. Co. 39,792 13,298 39,137 Port Town. S. RR. Co.. 10,431 loss 13,769 15,026 Coal Department...... 439,616 123,837 507,646 Steamers............... 79,135 7,717 68,795 Total. ................ $3,221,621 Gen. exp. and taxes .. . $376,:i84 $3,258,503 22,143 Net. $167,122 24,798 132,277 11,577 loss 9 ,31 T 109,911 3,662 ---- $440,030· 50,113'- B alance for charges... . .... ... $354,240 . . . ...•. $389,917 -(V. 65, p. 463, 683, 870, 925, 977, 1072, 1116; V. 66, p. 83. Pacific Mall Steainshlp.-An agreement made with the Panama RR. in December, 1895, for 3 years covers joint traffic between N.Y. and Central America and Mexico and the U. 8. coast. (V. 63, p. 78.) DIVIDENIJS.-No dividends from 1887 until Dec., 1896, when 1 p. c. was paid; in 1897, June, 1 p. c.; Dec., 1 p. c. LATEST EARN'GS.-7 mos., 11897.Gross, $2,313,065; net, $450,651 May 1 to Nov. 30. 51896 Gross, 2,242,012; net, 362,74\l ANNUAL REPORT.-Fiscal year ends April 30; report for 1896·97,witb balance sheet, was in V. 65, p. 25. The Atlantic lines were d111continued in 1896 under a contract with the Panama RR. On A.pril 30, 1897,. current liabilities were $248,771; current assets, $1,840,149. Year ending A.pr. 30. 1897. 189R. 1895. 1894. Atlantic lines............... $6 $230,119 $223,829 $170,839• Panama lines ............... 2,431,601 2,162,801 2,105,435 1,730,845 'l'rans-Pacifl.c line .......... 1,327,731 1,463,958 1,362,437 1,498,410, Subsidies................... 69,333 74,060 80,000 69,487 Miscellaneous.............. 311,478 292,000 316,171 364,512 Total earnings ........ $4,140,14 9 $4,222,938 $4,1.087,872 $3,1.834,093 Net earnings . . . . . . . . . . . . . . 714,258 $708,382 ;i,712,632 ;i,475,4.61 DIRECTORS A.ND OFFICERS-Henry Hart, Isaac E. Gates, Calv in s. Brice, Samuel Thomas, C. H. Macy, Geo. J. Gould, Russell Sage: Collis P. Huntington, President; R. P. Schwerin, Vice-President; Jos. Hellen, Sec. and Treas., Mills Building;, N. Y. (V. 65, p. 25.) Peoria Wate1·.-See this SUPPLEMENT, page 157. Pennsylvania Coal.-Owns coal lands in Wyorung V alley, Pa . Dividends since 1881-From 1882 to Feb .. , 1898, inclusive, 16 percent per an. ln Feb., 1894, paid 4 p. c. extra and in Dec., 1896, 5 p. c. extra . Penn@lylvania Heat, l,lght & Power Co.-Organized in 1895. In Ma r ch, 1896, l eased the Edison Electric Light Co. of Philadelphia fo r 99 vears at a, g u a r a nteed dividend ot 8 p. c. for the fl.rat two y ears and 9 per ce nt the rea fter, b ut holdet·s or n early a.ll the E iison Company' s $2,000,000 stock accepted for their sto ck $50 in cash and $100 trust certifi cat e p er share. V. 62, p. 320. In Ma y, 1896, the stock o f the Electric Tru t was ourchased. See V. 6-l, p. 990 and 989. Oct. 1 ,. 1897, was furnishing 106,6 :W l a mps 16 c. p. and 4,830 arc lights . 8 ECURITIES.-The preferred stock was $35 paid per share in March , 1897. The t rust certifica t es (tax e xempt) a r e ecu red by de po it with t he City Trust Safe D eposit & surety Co. of a n equal a mount of Edison stock; they are subject to call after April 1, 1946. DIYIDE os. - On commonpa1·value firs t di vidend April, 1897, 1 p , c . Oct. , 1 p. c. On pref e1·red instalmcnlsp aid in, paid Oct., 18 96, 6 p . c • Ma rch, 1897, 3 p. c. ; Oct., $1·55 p er h are. On pref erred par oalu e p a id March, 1897, l p . c. V . 63, p. 515. INVESTOR8' SUPPLEMENT. (VOL. LXVI. Snbscrlbers ~vlll conCer a great favor by giving llnmedlate notice of any er1·or discovered in tbese Tables: Bonds-=-Prino I INTEREST OR DIVIDE~DS. MISCELLANEOUS. - - - - - - - - - - - - - - - - - pal,WhenDue t A - - - - - ~ - - - - - - - - - - - - - - - - - , Date Size,or Par Out::f~~~inv Rate per When Where Payable, anrl by Stocks-Last For explanation of column headings, &c., see notes on of Dividend. Whom. ° Cent. Payable Bonds Value. first page of tables. Pennsylvania Steet Oo.-Old Penna. 81 eel 1st M., our .... r 1887 Maryland Steel 1st mortgage, currency ................ r 1 89 ~ Consol. mortgage, $7,000,000, gold ......... . .......... o* 1 8 9 v .Pe'JIJ)le's Gas Light J; Ooke (Ohicago;-Stook, $25,000,000 pi1:::~~~!~~~~.~~ .~. ?~~~. ~~~. ~~~~~~!~:.~~. ~:.!. ~ ~: :~ 1 1st oonsol. mortgage for $10,000,000gold . . ......... e* Equitable Gas Light & Fuel 1st mortgage .......... .. ow Chicago Gas Light & Coke 1st mortgage,~ ....... ( FPJo o Consumers' Gas 1st mortgage, gold........ . ....... Illinois L. H. & Power 1st mortgage ................... o Lake Ga~ & Li[ht 1st ~org·a~e, gold.. . . . . . . . . . .... *IC P. G. L. & c.-.H.efundrng .M.., ;i,40,00o,ooo, g... XFo &r Mutual Fuel Gas 1st mort., $5,000,000, gold guar .... . Philadetphia Oompanl/-(Natural Gas) Stock ............. . e. Lorilla1·d Oo.-Common stock .......................... . Pref. stock, 8 p. o., cum., pref. as to assets and earn'gs. Procter & Ga,nble.-Common stock ........................ . Pref. stock (8 p.o., cum.). See terms in ed. May,'93. SUP. 1st M., g., subject to call at 110 after July 1, 1900 .... o* Pullman's Palace Oar-Stock ........•...................... ,Quicksilver Mining-Preferred stock, 7 p. o., not cum .... . i874 1874 1893 1885 1887 1886 1 885 18 5 1 897 18~7 is9o Railway .Equipment Oompany of Minnesota.-Stook ... . . 1st Mortg., gold, $50,000 red. yearly in Nov. at 100 .... . is9i Car trust, $100,000 (part red. yearly) . . . . . . . ...•...... 1896 B. I. P. Horse Shoe-Prat., 7 p. o. cum.; then com. 10 p. c·. .St. Louis Ter. Oupples Sta. &P.-lstM. g.,red.102 aft.'02.c* i897 1,000,000 1,000 2.000,000 1,000 3,283,000 500 &o $1.00 $25,• 00,000 2,100,000 500 2,500,000 500 4,900,000 500 2,000,000 1,000 1,000 10,000,000 4,246,000 1,000 500,000 1,000 300,000 2,500,0UO 100 (II 50 7,500/iOO 100 3,000,000 100 2,000,000 100 '2,250,000 100 2,250,000 1,000 2,000,000 100 36,000,000 100 4,291,300 100 996,500 540,000 100,000 . .. . . • 1,750,000 100 2,000,000 500 &o. i:ooo For year ending Sept. 30, 1R97, net profits $324,503, and after pay ;i.ng interest charges, dividends, etc., $5,200 was carried to surplus ao· count, making total surp. $151,892. In 1895·6 net profits $275,194. OFFICERS. -President, Martin Maloney: Secretary and Treasurer, .Jos. B. McCall; direotors,Geor~ePhiller, W.W. Uibbs, Geo. S. Graham, Martin Mu,loney, Willia,n L. Elkins, John Lowber Welsh and Thomas Dolan. (V. 63, p. 515, 793; V. 65, p. 778, 823.) Penn!iylvanla Steel Co.-Chartered in Penn. in 1895; owns eight <blast furnaces, with an annual capacity of 558,000 tons pig iron; a rail mill, capacity 480,0uO tons and for 165,000 tons boiler steel, beamR and other products, and a ship•building and a bridge•building plant, including plant at Steelton, Pa., with annual oapamty of 175,· ·ooo tons; Be semer Steel Works, capacity of 350,000 tons, and the Maryland Steel Co. plant at Sparrow Pornt, near Baltimore, havin~ annual capacity of 300,000 net tons standard section steel rails. Owns .a half interest in theJuragua (Cuba) IronCo.,Ltd. V. 62,p. 776. Plan for working capital under consideration in 1897.-V. 65, p. 824. BONDS.-Oonsolidated joint mortgage (Girard Lite Insurance Annuity & Trust Co. of Philadelphia, trustee) covera the plants at gteelton, Pa.., .and Sparrow Point, Md., all of the $1,000,000 stock of the Maryland Steel Co. and $697,500 of the $1,500,000 capital stock of the Juragua. Iron Company. Consols for $3,000,000 are reserved to retire the :prior liens. Interest, if not earned, is p~yat>le in scrip till Sept. 1, '98. ANNUAL REPORT.-The report ror year ending Deo. 31, 1896, was given in V. 64, p. 566, and showed a loss on both plants of $40,704, against .a surplus of $85,737 in 1895. Improvement oo Steelton plant ca.used a further expenditure of $194,001.-(V. 64, p. 566; V. 65, p. 824.) People's Gas Li2:ht & Coke (Chlcago).-An absolute oonsoli• <lation on Aug. 3, 1897, of the companies forming tile old Cllioago Gas Trust. The $:.:15,000.000 Fidelity receipt , whioll previously represented the several properties, were exchan~ed dollar for dollar for took of the People's Ga Light & Coke Co.-V. 64, p. 1088; V. 65, p. 235. Mu• tualFuel was purchased in November, 1!:l97, and control of the Uni• versal Gas was obtained, bringing under one management practically the entire gas business of Cllicago.-V. 65, p. 925, 1116. PROPERTL-In service July 31, 1897: Street mains, 1,305 miles, -4,617 feet; meters, 158,842; public lamps, 30,705.-See V. 65, p. 727. DEALINGS WITH CITY.-In June, 1891, a settlement was reached by ,t he several companies on the basis of the city g etting 312 per cent of the gross receipts, or at lea t $150,000 per annum, and paying $1 per 1 o , •O feet for its ga -the price of gas to other consumers to remain at $i 25 until 1893, when a reduction of five cents in the price must be made each year following until $1 has been reached. See V. 52, p. 939. '94. '95. '96. '97. '93. DIVIDENDS.- ( '89. '90. '91 '92. 212 112 6 3 514 412(112 o.) 6 3 Per cent . .. 5 4 BONDS.-Of the $40,000,000 issue of 1897 $29,046,000 bonds were ~e erved to retire exi tin<>' bonds shown in table above, and can be issued bearin~ less than 5 per cent interest. 'l'he balance may be issued for adaitional property hereafter acquired, or for improve• men ts or bettermont , but in no case to an amouut exceeding the co ·t ,of the same.-V. o5, p. 572. Mutual Fuel Gas !At 51i $5,0o0,000 are :to be guaranteed. Bills payable Aug. 2, 1897, $305,000. The oonsols for $2,500,000 were issued in place of Chica1?0 Economic Fuel bonds previously held in treasury. Hyd~ Park stock (in trust), $389,00u. EAR ING .-For year ending July 31, 1897, re ults in V. 65, p. 727 . .Manufaotm·ed ~as old, cubic feet ...................... 5,102,478,899 $6,443,685 -Gross receipts rrom manufactured and natural gas...... 3,486,416 Operating expen es (bond interest not included) . . .. . . .. Net receipts . .........................• . ................• [nterest on bonds (less on bonds held in treasury) ...... . $2,957,269 1,452,800 $1,504,469 Balance for took (equal to about 6 p. c.).. .. . . . . . . . . . CONDEN ED TRIAL BALANCE AUG. 2, 1897. Capital stock . ......... $25,000,000 Real estate, franchise, tunnels, mains, etc .. $56,610,373 Mortgage bonds ......• ,r29,046,000 305,000 454,7721 Bill payable.......... Materials.............. 446,477 :Securities.......... ... 3,019,978 Accounts payable..... 251,800 accrued. interest Bond 28,737 . . Accounts receivable 389,491 Profit and lo s......... 5,894,749 Gas bills receivable . .. 8'2,869 ·City of Chicago........ 357, 06 Cash................... I I Total as<1et'I ......... . $60,944.0261 Total liabilltieR . .. ... $60,944,026 Directors.-Antltony N. Brady, Walton Ferguson, Roswell P. Flower, -0. K. G. Billing , F. S. Winston. Offioer:s.-Pee ' iP,e nti C. K. G. Billin~; Se cretary and Treasurer, L.A. Wiley. Ottice , .J4 Wall Street, N. l'. .-V. 66, p. 83, 135. Phlladelphia Company.-[n 1887 the Chartiers Company was leased for 99 years. Tile Philadelphia Company controls the nat11ral gas production about Pittsbm·g aud vicinity, leasing April 1, 1897, in 88,704 acres gas and oil territory and 1-J24 miles of pipes, and operat·ing 333 gas wells and 47 oil wells. Under a percentage agreement of May 1, 1895, the $1,000,000 Penn· -aylva.nia Natural ll-a~ stock iti to receive one·half of one per cent divi· .a.end for each one pe1· cent paid to the Philadelphia Co. stockholders. '9~. '91-i.•'97. ' 95. '9t. '93. DIVIDENDS.- ( 1892. Jan., 1 None. 5 5 414 Percent.... 5 414 ANNUAL REPORT.-Reportfor 1896·97 was in v. 64, p. 999, showing: Gross. Net. $327,779 1896-7 ..• $1,289,846 11.895·6 .... 1,311,671 df. 175,203 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M. & N. 5 F. & A. 5 6 g. M. & s. 6in 1897 Q.-F. 6 g. M. & N. 6 g. J. & D. 6 g. A. & 0. 6 g. J. & J. 5 g. J. & .T. 5 g. J. & D. . ... . 7 6 g. J. & J. 5 g. M. & S. ..... 5 g. ..... ...... 5 in 1 97 . . . . . 8 in 1897 Q.-J. 12 in '97 F.&A. r5 8 in 1897 Q.-J. 6 g. J. & J. 8 in 1 97 Q.-F. ..... ...... 6in 1897 M. & N. 6 g. J. & D. . .... . .. . . . Q.-J. r5 7 412 g. J. & D. Nov. 1, 1917 Feb. 1, 1922 Sept. 1. 1925 Nov.24','97,112 Nov. 1, 1904 Dec. 1, 1904 Apr. 1, 1943 July 1, 190fi .Tuly 1, rn37 Dec. 1, 1936 Nov. 1, 1915 July 1, 1915 Sept. 1, 1947 1947 Pittsburg,820 Penn Av. Jan.10,'98, 1 % Aug.15.'97,5% .. ........ N. Y., Barin~, Magoun. Jan. 3, '98, 2% Cinoinnati,0.,Co. Office. Feb. 15, '98, 6 Jan.15,'98, 2% do do N.Y.,MeroantileNat.Bk July 1, 1940 N. Y., Farm. L. & Tr. Co. Feb.15,'98,2% N. Y., Of., 20 Nassau St. 1891, 434% New York & London. Nov.l,'97, 3% N. Y.,Mait.,Coppell&Co. June 1, 1901 June 1, 1906 .. ........ Co.'s Office, Providence Jan.15.'98 112 New York and London. June 1, 1917 Philadelphia Office. do do GirardL. f.,A.&Tr.,Ph11. N. Y., Central Tr. Co. N. Y .. Cent. Tr.& Lond'n. do do N. Y., Central Trust Co. N. Y .. Cent'l Tr. & Chio. Ohioa!!;O, Uhio. Nat. Bk. Chicago, UnionNat.Bk. . ....... .. .. . . . . . . New York. Of the gross in 1896-7, $1,228,538 was from gas, $11,062 fro rn oil and $50,246 from dividends received. On April 1, 1897, bills payable were $399,714 (reduced on May 1 to $32i,706); acots. payable, $49,· 566: bills and acotR. receivable, $337,727; cash, $49,285. Bonds and mortgages unpaid March 31, 1897, $96,000. (V. 64, p. 999.) P. Lorillard Company.-Incorporatedin New Jer~ey in 1891. 1897. 1896. 1895. 1894. 1893. DIVIDENDS.-1892. Aug. 5% 3 8 13 5 Common, % 10 Preferred... 1892 to Jan., 1898, inclusive 8, yearly, pd. quarterly REPORT.-None furnished, but at the annual meeting in June, 1897, President Lorillard stated that considerable improvement had been made over 1896-See V. 65, p. 26. For year1891·92 net profits applio· able to dividends were $496,313; paid on preferred, $160,000; on common, $150,000; balance, surplus, $186,313. Main olfloe, Jersey City, N. J. Baring, Mairoun & Co., Transfer Agents.-(V. 65, p. 26.) Postal Telegrapb Cable.-Consolidated with the Commercial Cable Co. in December, 1896. See that company and V. 63, p. 1009. Procter &: Gamble Co.-Formed in 1890 under laws of New Jersey to carry on the soap, candle, oils and glycerine business of Procter & Gamble. The mortgage covers about 67 aore11 of land ad· joining the city of Cincinnati, to11:ether with the 29 factory buildings thereon. Of the common stock $1,000,000 is not to receive dividends until 12 per cent has been paid on the remainder of the common. 1898 . 1892 to 1897 incl. DIVIDENDS .••......... c1891. Feb., 6 per ct 12 per cent. On common ..•..•...... 5 8 On preferred in full to Jan., 1898, inclnsive. EARNINGS-For year ending June 30, 1894, net pro:flts were $688,008 (against $651,360 in 1892·93); deduct interest on bonds, $120,000; dividend on preferred stock, $180,000; dividend (12 per cent) on common, $270,000; balance surplus, $118,008; total surplus fund July 1. 1894. $450,029. Office, Cincinnati. (V. 57, p. 376 ; V. 59, p. 291. l Pnllman's Palace Car Co.-The stock has been increased ft ,)Ill time to time to provide new capital, as wanted. (V. 56, p. 669). Income account surplus July 31, 1897, $25,247,648. The late President George M. Pullman owned $2,391,900. •V. 66, p. 184. 1884 to Feb., '98, incl 1881·83. 1877·80. ?_ DIVIDENDS.8 (2% Q-F,1 9½! yearly. Since 1877-P. ct. 5 8 yearly. REPORT.-Report for 1896·97 was in V. 65, p. 727. 1895. 1896. 1897. Years ending July 31. Earnings from oars ................. $7,743,344 $8,162,460 $7,452,853 1,094,772 Patent royalties,manuf. proflts,&o. 1,231,544 1,081,923 Totalrevenue ...•••..•..••...... $8,974,888 $9,244,383 $8,547,625 Operating expenses ................. $3,511,868 $3,730,079 $3,511,030 746,204 847,89~ 812,169 Paidothersleeping•oarassooiations 138,998 ... ... .. Other expenses..................... 2,880,000 2,88◊,000 Dividends on capital stock ......•.. 2,880,000 Net surplus for year .......•....... $1, 770,851 $1,647,408 $1,410,391 Chairman of Executive Committee, Robert T. Lincoln, Chicago. N · Y. ottloe, 15 Broad St.-V. 65, p. 727,777,778,925; V. 66, p. 184. Rapid Transit Fe1·ry.-SUPPLEMENT of October, 1897. Kil.ode Island-Perkins Horse Sboe Company.-ORGANIZA· TION.-Manufaotures horse shoes and toe oalks at Valley Falls, R. I., 6 miles from Providence. In 1895 was incorporated under laws of Rhode IRland. V. 61, p. 1014. Stock listed inNewYorkinDeo., 1892. Stock-Common (or general) stock, $1,000,000; preferred, $1,750,000. '98. '97. '96. 1893·'95. } 1892. DIVIDENDS.419 10 yearly. 1212 Common. p. ct. 6~ Jan.112 - - - - 7 p. o. yearly.---' Preforrt>.d, p. ct. October div ,den<l on preferred was reduced to 112 p. c. EARNINGS.-In year 1896·97, net over all expenseR, $86,839. In 1895·96, net, $148,162. ln 1893·94, net $225,816. St. Lout. Termtnal Cnppl.-s Station &: Property.-Inoor pora,ted iu Missom·i in March. 1897, and owns several blocks of modern, slow combustion buildings, adjoining the Terminal Railroad Assooia· tion' tunnel in St. Loui . Tile buildings contain a union freight sta· tion connected with tlte Terminal RR., and enable the twenty large whole ale houses which u e them under lease to avoid the delay and e x:peni,ie incident to 1tlle u uar ystem of carting to and from depots. The T erminal Railroad Association of St. Louis is under perpetual contract with the company to maintain a freight station on the premises. See full statement in CHRONICLE, Oct. 16, 1897, p. 730. STO CK AND BONDS.-Common, $2,000,000; preferred 5 p. o. cumula· tive, $1,000,000. The bonds are redeemable at 102 after June 1, 190J. E.\RNIXG .-Gross revenue of Samuel Cupples Real Estate Co. for year ending Dec. 31, 1896, were $267,866; net, $214,938. President, Robert S. Brookings.-V. 64, p. 954; V. 65, p. 730, 1072. St. Paul & Sioux City KR. Land Grant.-i SUPPLEMENT of Sioux City & St. Paul BK. Land Grant.- 5 Olltober, 1897 . Sontheru Cotton on.-see this Sut>PLE.lrn:-n page 159. Sonthern &: A.tlant1" •relPg-raph.-Lines leased to Western Union (which owns $390,-175 or stock additional to that in table) and Balance. stock guar. bs rental 5 p. o. Leases. I>ividends. . ... . . . . SUl'. $2fi6,710 $71,029 Soutb Vuba Water Co.-3ee this SUPPI.EMENT, pa,ge 159. 45,851 $150,000 der. 37l,u54 JANUARY, 1898.] MISCELLANOUS STOCKS AND BONDS Subscribers will confer a e;reat favor bv e:lvtn,: hnm.edlate .11otlce of anv Arror d~5eovered In these Tables. Bonds-Prine! INTEREST OR DIVIDENDS. MISCELLANEOUS. Date Size, or Due. Amount Rate per When Where Payable, and by pal,Wlren Par Outstanding Stocks-Last For explanation of column headings, &c., see notes on of .Bonds Value. Cent. Payable Whom. Dividend. first page of tables. ----- - -$25 ll,m.th.ern r, Atlantic Telegraph-Stock (guar. 5 per cent) .. Southern Ootton OU-Stock (see text) ..................... South Yitba Water Oo.-lst mortgage bonds ............••• Consol. mortgage, gold, $1,500.000 ...................... Spirit.ff Disfribuling Oo -Stock (See text) 1st pref. cum .. Standard Gas Light-Com. stock authorized, $5,000,000. Preferred stock authorized. $5,000,000 ...... .... ........ New 1st mortgage $1,500,000, gold ..................... c Standard Oil-Certificates ................................. Stand. Rope~ Twine-lstM., g., s. f., to call at 105.IUa,c* Consol. M., non-cum., incomes, g.,to call at par .... C.c* StreetRy.~nlumin'g-Pref. stock, 6p.c. cum./callat 110\ Summit B1·anck Ooal Oo.-lst mo:rt., $1,400,000, gold... c Sunday Oreek Coal-Preferred stock, 5 per cent .......... 1st Mort., gold., sinking fund., subject to call at 105.c~ Busquek'na Ooal.-lstM.,gu. p. & i., s. f. not sub. to call.c Tenn. Ooal I. ti RR. Oo.-Common stock $20,000,000 ...... Preferred stock (8 per cent cumulative) ................. Consolidated mortgaf.................................... ~outb Pitts bur~ Pure ase, 1st mortgage ................ Alice Furnace o., Alabama, 1st mortgage ............ c' Pratt Coal & Iron Co., Ala., 1st M., s. f., not drawn .... c~ Birmingham, Ala., Div., con. M., &'' s. f.1%, not d'rn.. c* Tennessee Div. bds, gold, s.f. 119 ¾ yearly, not dr'n ... cw {~~~:~\)~~%;'!at~::~.~:·:~:~:!~~:~?~::~::~.~~~·~:~~ -- . i890 1893 1896 .... i890 i~96 1896 is9s i892 ..... --·· issi 1882 1882 1883 1887 1887 1890 ...... 50 50 1,000 100 100 100 1,000 100 1,000 1,000 100 1,000 100 1,000 1,000 100 100 1,000 1,000 1,000 1,000 1,000 1,000 500 &c. ......... $51'>9,525 2,000,000 522,000 478,000 1,050,000 5,000,000 3,721,100 1,477,000 See text. 2,955,000 7,500.000 25fi,900 5 See rem. 6 6 g, 7in 1897 5in 1897 6in 1897 5 g. See text. g. g 6in 1897 fig. 1,500,000 2in 1897 4.00,000 ~ g. 1,563,000 20,000,000 ······ 1,000,000 ... 6.. 23,000 120,000 6 300,000 7 675,000 7 3,399,000 6 g. 1,244,000 6 g. 2,502,500 6 g. 400,000 7 m A. & 0. N. Y., West. Union Tel. Oct., '97, 219~ From Camilen-bv cb'ck Dec.15.'97, 2ro, A_-·,f·o. N.Y .. Holland Trust. Apr. 1, 1910 J. & ,T. N. Y. Farm. L. & Tr. Co. .July 1. 1923 i,-M. N. Y ., Mills Building. Dec.15,'97,1~ .-J. N. Y., 31 Nassau St. Dec.31,'97, 312 J. & J, do do De<>.31,'97, 5~oM.&N. N. Y., Mere. Tru~t Co. May, 1930 Q.-M. N. Y., 26 Broadway. Dec.15,'97, 8% F. & A. N.Y., Manhattan Trust. Aug. 1, 1946= Aug. 1, 194(> F...&..A. N. Y. City·;ii°<i°Boston . Feb. 1, '98, 3% J, & J. PhiladeJphia, Pa. Jan. 1. 192SFeh. N.Y.,Davis &Co.36Wall Feb.15,'97, 2%, J. & D. do do Dec. 1, 1912 J. & J. Phila. Co.'s Office. Jan., 1911 . ...... N. Y., 4th Nat. Bank . ----M.& N. N. Y., Hanover Bank. F. & A. & M.& J. & A. & F. & A. & A. 0. N. J. 0. A. 0. do do do do do do N. Y. Hanover Nat. B'k N. Y.,4th National Bank N.Y.,HanoverNat. B'k. Cincinnati.Mercb.N.Bk. Juiy "i5: ·i893 Nov. 1, 1901 Feb. 1, 1902 1902 Nov. 1, 1903 Jan. 1, 1917 Jan. 1, 1917 Feb. 1, 1910 1904 Spirits Distributing Co.-Organized in 1896 under the laws of ties, Ohio, with improvements thereon; also dock property at West New Jersey by the American Spirits Manufacturing Co. for the purpose Superior, Wis. Full statement to N. Y. Stock Exchange in V. 56, p. 503. of handling its product, the Man~a<_Jtur~ng Co. contracting to make a STOCK, ETc.-Preferred stock, $1,500,000; 5 per cent; common stock ~ed_ annual payment "t? the D1str1bt~t1_ng Co., payable quarterly, be- (authorized $2,500,000) outstanding- is $2,250,000; par, $100. On Dec. gmnmg May, 1~96, suffl~ient for the dividend of 7 per ce~t upon the 31, 1896, bills payable were $73,567; accounts payable $28,656; bill& fu.stalmen~s pa1~ in on its first preferred stock. Subscribers to 1st\ receivable, $77,147; accounts receivable, $296,582; cash, $3,263. :preferred m April, 1896, had been called upon for 60 per cent. amountD _ ,, . ., - .• , ., . ,_ ., me: to $1,260,000. See V. 62, p. 318. . IVIDENDS. 0 n preJ.. 1893 , 1 "7l p.c., 94 , 3 , 9 ::,, 3 , rn 96, 3 , 97 , 2 p. c.,. 1898 STOCK.-First preferred 7 p. c. cumulative authorized $2,100,000; rn • Feb., none. issued, full paid, $!.,050,000. Second preferred $1,575,000, all 1Rsued. OPE~ATIONS.-Output-In _1893, 678,891 tons; in 1894, 534,'~60 Common (all owned by American Spirit3 Manufacturing Co.), $3,675,- tons; m 1895, 510,4~ l tons; m 1896, 462,815 tons. F<:>r year endrng 000. All shares $100 each. (V. 62 p. 318.) Dec. 31, 1896, gross rncol!l.-, $397,8~2; net, $100,454:; mt.• taxes, etc., ' $36,!'i63; betterments (re-rnvestments) $19,457; sinking fund, $7,141;. DcvIDENDs.-On 1st preferred: In 18!)6, June, $1 ·12 per share; Sept., dividend (paid Feb., '96), $45,000; bal., cter. for year, $7,680. In 1895, ¥!:/5h,a1~: r~ci·~~'.7._ge~er sr,g:rn1897,March, $1·75 per share; gr<1ss, $477,867. V.56, p. 502. N. Y. office. 36 Wall St.-V. 64, p. '791. ' ' P .,.$ ' ·• $ . · . · . Tennessee Coal Iron & Railroad Com.pany.-This company Standard Gas_ Light.-Orgamzed m 1886. Owns 160 miles of owns blast furnaces, coal mines, iron mines, foundries, &o., and coal gas pipes on east side of New York, north of 13th Street. and iron lands in Tennessee and Alabama. The total area of mineral DIVIDENDS 1891. '92. '93. '94. '95. '96. '97. '98. lands and rights owned and controlled in 1893 was about 400,000 acres, Common%................ __ 1 4 5 Below. or which 274,000 acres are in Alabama and 126,425 acres are in TenPreferred % ............... 334 112 4 4 512 412 6 " nessee. Of the latter 58,135 lieinCocke and Green counties,inthe In 1898, on conunon, .fan .• 3 ½! p. c. (of which 2 p. c. extra) ; on pre· eastern portion of the State on the bor~ers of N. Carolina. Blast fur/erred, Jan., 5 p . c. (of which :l p. c. extra)-those dividends were naces July, 1895, numb~re~ 17, and ~ally output of C!)al 13,000 ~ons. both paid Dec. 31 1897. Russell Sao-e Vice·President. (V. 65 p. 516.) Also _owns 30 mtles m~rn line of railroa~ a~d 72 miles of termrnals' . "" ' . ' . and s1de·track connections. Total capa01ty 1s aoout 15,000 tons of Stand~r~ 011.-Thts com\>~ny controls P~trQleum oil refineries in coal daily. In 11 months of 1895 produced 3,415,518 tons of coal► all the prmmpal Northern mties , of the Umted States, and ~roduces In 1896 production decre1.1ised only 2,832 tons from that of 1895. about 65 I?er cent ~f the country~ tota_l output of re:fi1;1e~ oil. Also On Dec. 19, 1892, the Cahaba Coal Mining Company was absorbed, controls oil wells rn_ P_enn~ylv~ma, 9hio and West Virgmia, a_nd has its property consisting of some 44,000 acres of coal and iron lands pip~ lines for ¥'ansm1ttrng its oil to tidewater. T!1e trust ~ertiflcateR situated in the counties of Bibb, Shelby and Jefferson, Alabama, with ~re issued a_gamst a deposit in ~rust of the.stocks m the various refl.n- an output of about 800,000 tons of coal per annum. v. 55, p. 60. 463. mg, producmg and tra~sportat12n compames co~trolled by tho Trust. An amalgamation with the De Bardeleben Coal & Iron Company wa~ Trust certificate~ (o_ri~rnally $9, ,250_,000) are bemg cancel~d and the consummated in September, 1892. Merely a formal existence is reTrustees a;re ass1gnmg to the benefl.mal owners the legal title to the tained by tbe De Bardeleben co. and the Cahaba co. v. 63 p. 31. stocks which were formerly held in trust. An ••assignment" therefore ' represents a share in the le~al ownership of the combined properties, DcvIDENDS.-On oommo~ in 18~7, 1 per cent. and none sine~. On prewhereat- the old trust certiticates represent a beneticial interest in the ferred, from 1889 to 1893 mclusive, 8 Pc. per annum; none smce. samA. Both receive the same dividends and are quoted alike. Divi• BONDS.-The two issues, known as the Birmingham Division and· dends are paid with profits from stocks of corporations held by the the Tennessee nivision bonds, are each a lien on their own property,.. liquidatingtrustees. as described in the mortgage. and a second lien on the property of DIVIDENDS1891-95. 1996. 1897. the other division. The total autb.orized issue of the Birmingham 12 31 33 Div. loan is $5,000,000 [of which $540,000 bonds have been cremated] P e1• cen t -- · · · • -· · • · • -- .. ·•· · • • · · · · · ·• · · · · a year. and of the Tenn. Div., $1,400,000, or which $115,000 are in the sinking DIREOTORS.-Wm. Rockefeller, John D._ Rockefeller, H. M. Flagler, fund. The consolidated 6s due in 1901 are exob.angeable at par for ,Jobn D. Archbold, H. H. Rogers, W. H. Tilford, A. M. McGre~or, Paul bonds of the Nashville Chattanooga & St. Louis Railway Company held' Babcock and C. M. Pra,tt. by the Central Trust Company. The De Bardeleben mortgage is for -(V. 62, p. 321, 871; V. 64, p. 888; V. 65, p. 926; V. 66, p. 84.) $3,000,000, of which $96,000 canceled by sinking fund, $400,000 in, Standard Ro1>e & Twine co.-Incoroorated Nov. 8, 1896, under• trust for Eureka bonds and $1,500 in treasury. The De Bardeleben la.IVs of New J~rsey, to take over the property of the United States, bonds were assumed by the Tenn. Coal & Iron, under terms of purCordage Company, reorganized per plan in V. 60, p. 1012. For state· chase. · See V. 56, p. 604. De B. C. & I. first 6s listed on N. Y. Stock ment of property covered by the mortgages see V. 63, p. 1064. Exchange to Jan. 17, 1898, for $2,428,000. Of the $1,075.000 CababaSTOCK AND BoNos.-Capital stnck is $12,000,000 (par $100). The 1st 6s issued, $75,000 are in the treasury of the T. C. I. & RR. Co. first mortgage Is for $3,0o,,,oon and the :vearJy sinkin~ fund eqnals 1 FLOATING DEBT, ETc.-On Jan. 1, 1897, total floating debt was per cent of the bond~ outstanding; bonds can be drawn by lot at 105 · $2,378,482 (against $2,172,880 on Jan. 31, 1896,) of which $1,583,113: p. o.; firsts purchased for sinking fund and canceled to Oct. 1, 1897, bills payable and $522,317 due sundry creditors on open account. Total $45,000. Tile consolidated mortgage bonns are non-euwulative in· quick assets, $2,211,908 (against $2,155,474 in 1896), of which $88,comes entitled to interest llefore any dividend is paid. and to one 400 cash and bills receivabJe, $76,500 treasury bonds, $1,176,345 salable vote for each $100 of bonds. part of inventory and $864,467 due on open accounts. REPORT.-Year enrts July 31. Statement for 1896-7 in v. 65, p. 569.. EA.RNlNGs.-Year 1897 net, $590,627; 1urplns overcharges, $17,303 • Proceeds of De.ficitfro,n . 01/LPr Oharges, Batanc~, ANNUAL REPnRT.-Fiscal year now ends Dec. 31 (formerly .Jan. 31) . . sale.~. oper. inc()me. etc. defic1,r. Report for ye!lr endine: Dec. :n, 1896, was given in V. 64, p. 565, oom$3,542,353 $169,710 $96,376 $264,212 $167,836 parison being made with eleven months of 1895. Figures for otberNole.-Other income here includes: Receipts from reorg. committee, years represent the 12 months ending Jan. 31. $191,150; sin~g fun~ credit, $30,000; sundry ea~ni~gs, $44,945. j ,-l2mos ....... ,-11 mos ....... ...-Yearsendi'gJan.31--. Charges. etc., m~ludes interest on bonds $180,000: smk1~g fund pay1896. 1895. 1895. 1894. ment, ~30,000; unproveme~ts, $54,~12; accou~ts and bills payable, Total net profits ........ $692,333 $995,794 $561,984 $685,031 $703,~.3; acc~unts and bills rec~1v., $7:l9,5:J8; cash, $Ll7,788. rnterestonbonds,&c ... 660,0~4 582,305 631,516 655,074 Chairman, Vrncent P. Travers; Vice Prest., Alfred R. Turner, Jr.; Bad debts, &c .... _.. . . . . 1,186 43,521 cr.1,205 84,129Seoretary a~d Treasurer, John.~. Foroes, 287 Broadway, N. Y. •lividends................ ..... ... 4.0,000 Directors: Vmcent P. Travers, Wilham Barhour, W. R. Potts, Sumner Balance for year_._ .... sr. 31,063 sr. 369,968 df. 68,327 df. 94,172· R. Stone, .John Kean, A· R. Tnrner, Jr.; John M. Forbes, John N. Total undivided surplus .Jan. 1, 1896, was $543,065. Kenney, Augu~tus Haviland ·-<V. 65 • p. 569 ·> DIRECTORS (Jan., '97)-Cord Meyer, C. C. Baldwin, James T. WoodStandard 'I elephone Co.-V. 60, p. 607, 1060; V. 61, p. 472.) ward, w. s. Gurnee, Jr., w. s. Gurnee, o. a. Payne, John G. Moore, Street Ry. & Jllumlnating P1·operties.-SUPP. of Oct., 1897. James Swann, J. J. McComb and A. B. Boardman, of New York; A. T Sugar Trust.-SEE AMERICAN SUGAR REFIN[lllG COMPANY. Smythe and~- B. Adg~r, .Tr., of Charleston; A. M. Sho_ok ~nd N. Baxter, , .Tr., of Nashville; David Roberts and J. Bowron, of B1rnungham; C. M. Summ.lt ~ranch Coal Co (Pa.)-This compa!1Y s bus1ness Is et?-• McGhee, of Knoxville; President, N. Baxter, Jr.; Secretary, John F ► ttI:ely lil mining c_oal. It also has a small road of its own to Sum~t Fletcher. Jr.; Treasurer. Jas. Bowron, Birmingham, Ala. N. Y. office, M1n:es, ~ of _a, mile, and operl:!-tes tbe Lykens Valley Ooal Co., ownrng 80 Broadway.-(V. 63 p. 31 561· v. 64, p. 135 565· v. 65. p. 778.) all its securities. '.rhe combmed properties cover 11,488 acres, of ' ' ' ' ' which 8,461 acres lie within the coal measures. Terminal RR. A.ssoclation of St. Louls,-SEE RACLROADS. A. reorganization of the Summit Branch RR. sold in foreclosure July Texas & Pacific Coal Co.-See p. 159. 13, 1897. See plan in y. 6_3, p. 1065, _a nd mo9-iflcations in V. 64, p. 755. •rexas PacUic Land Trnst.-See SUPP. of A.pr. 1897 page 154. In Dec., 1897, reorga111zat10n was still peudrng.-V. 65. p. 1116. ' ' Three shares ($150) of old stock paicl a~sP-ssment of $9 and received Thurber•Whyland.-See AMERICAN GROCERY Co., page 158. $50 in new stock. New capital stock, $1,500,000; par, $50. Trenton Potteries Co.-See SUPPLEMENT of April, 1897. EARNINGS.-Summit Branch and Lykens Valley Companies comoined: Trow Directory Print. & B'k.blnd.-See April, 1897, SUPP.8 months, l 1897 ...... Gross, $1,0~8,846; <lelicit, $17,148 V. 65, p. 365,413. Jan. 1 to Aug. 31. S 1896 ...... Gross, 1,182,008; deficit, 89,578 Union Depot co~ oC Colnm.bus. o.-The P. c. c & St. L. owns. REP<'RT.-Report for year ending Dec. 31, 1896, was given in V. 64, a half interest in this property.-V. 63, p. 117; V. 64, p. 804.1 p. 421. Pre ident (Aug., 1897), Frank Thomson.-V. 65, p. 368, 1116. Union Ferry,-Operates tive ferry lines between ~ewYork and Sunday Creek Coal c"om.pany oC Columbus, Ohio.-OR- Brooldyn. Capital stock is $3,000,000; par $100. The mortgage cover GANIZATION, PROPERTY, ETC.-An Ohio corporation for mining and all the company's property, including 19 ferryboats, real estate, etc. marketing mineral coal, manufacturing coke, etc., its property con- Dividends: In 1894, 4 p. c.; 1895, 4 p. c.; in 1896, 4 p. o.; in 189'T sisting of about 14,000 acres of coal lands in Perry and A.thens coun- 4 p. o.; in 189!?, Jan., 1 p. c. President, W. H. Male. i~: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I INVESTORS' Hl6 SUPPLEMENT. [VOL. LXVI. Sub•crlber• will confer a great favor by giving bnmedlate notice of any error dl•covered In the•e Table•• Bonds-PrlnotINTEREST OR DIVIDENDS. - - - - - - - - - - - - - - - - - - 1pal,WhenDue, - - - - - - - - - - - - - - - 1 Date Size, or - - - - - - - -MISCELLANEOUS. Par 0 ~~~g Rate per When Where payable and by Stocks-La.at For explanation of column headings, &c., see notes on of Dividend. Whom. Cent. Payable Bonds Value. first page of tables. Jl'ennessee 0. I. cf RR. Oo.-(Ooncluded)- Ca.haba 1st M., $1,100,000 gold, gu., s. f., red. at 110 .. o* 1892 $1,000 Te:cas ti Pacific Ooal-Stook $2,000,000 .......... ·······- · 1st mortgage, $500,000, sinking fund ............. ... C 100 lexas Pac. Land Trust-"Certifloates ofpropriet'y int'st". 100 Trenton Potteries.-Stock ($1,250,000 is 8% cum. pref.) ... ,Union Depot Oo. Oolumbus,0.-Gen.lst M.,$800,000 s. f.F 1 Union Ferry-Stock.......•................................. .~~~ 1st M., gold, red. at 110 after Nov. 1. 1895 .........•.... 1890 100, &o. 50 -United Gas Impro?Jement Co-Stock, $11,500,000 ...... .. . .... 500 Debenture bonds, (currency) $1,000,000............. c* .... Vnited States B1scuU-Pref. stock,non-cum., $25,000,000 :Y. Y. Biscuit, 1st mort~age, gold, no call ............. o* 1891 1,000 Amer. Biscuit & Manufacturing, 1st mort., no call .... . 1890 100 United States Exp1·ess-Stook .•.•••.••..••......••..•...•.••. 100 United States Leather-Common stock ..•.................. 100 Preferred stock, cumulative 8 p. o..••.................... 1,000 Deb. for $10,000,000, g.,s.f., 4 p. o., sub. to call at 110.o* is93 100 United States Mortgage ~ Trust-Stock ..... .......•.. ...... 1st mort. trust bonds, "A" gold, red.. after 1898 ... o"* &r iR93 100 &o. "B" gold, red. after 18!:J9 ... c•&r 1894 100 &o. do do "C" gold, red. after 1900 ... o"*&r 1895 100 &o. do do "D" gold, red. after 1901. .. o*&r 1896 100 &c. do do 1,000 "E" gold, red. after 1907 ....... . 1897 do do 100 United States Rubber-Common ($25,000,000 authorized) 100 Preferred ($25,000,000 authorized) 8 p. o. non•cum ..... WaqnerPalace Oar 00 .....•................................ ··ioo $1,075,000 2,000,000 361,000 6 g. J. & D. N.Y.,4thNationalBank. Dec. 1, 1922 Jan.20,'98, 1% Ft. Worth, Texas. Q.-J. 4 . 1908 A. & O. N. Y., Centi al Tru t Co. 6 ...... ~:~8i:8i8 ...4½3 4fi0,000 3,000,000 2,200,000 11,394,650 1,000,000 2 ...6.g. i:ooo grg;g~g 6 545,000 I ::::: N. Y .. A. M.Kidder&Co. Q.-F. Co. office, Brooklyn. Q.-J 4 5 g. M. & N. N. Y., H. B. Hollins. Q.·-J.15 Philadelphia, Olfice. 8 J. & J. Phila., First Nat. Bank. 6 M:·&··s. F. & A. M. & N. 1897 in 3 10,000,000 62,711,100 62,111,100 4 in 1897 Q.-J. 6 g. M, & N. 5,280,000 6 g. J. & J. 2,000,000 F. & A. 5 1,000,000 M. & N. 5 1,000,000 A. & 0. 5 1,000,000 412 J. & J. 1,000,000 J. & D. 4 1,000,000 20,166,000 2Feb.'97 ..... 19,400,500 6 in 1897 J. & J. M'thly. ...... 20,000,000 See·iei:t. 1946 ,Tan. 3, '98, 1% Nov. 1. 1920 Jan.15,'98, 2% July 1, 1902 Kouiit~e Bros. Mcii.--Ci911 N. Y ... Aug. 1, 1910 Chicago. N. Y., Ottioe, 49 B'way. Nov.15,'97,llg None paid. Offioe,26 Ferry St.,N.Y Jan. 3, '98, 1% N. Y.,ParkBk.; Boston. May 1, 1913 N.Y.,Offlce,59CedarBt. Jan. 3,'98,3% Aug. 1, 1913 do do May 1, 1914 do do Apl. 1, 1915 do do Jan. 1, 1916 do do Jan. 1 1917 do do Feb.15,'97,2% ···-······ N. Y., H.B.Hollins&Co. Jan.15,'98, 2% ······-· N. Y. Office. BONDS.-Thefour series of mortgage trust bonds, $1,000,000 each, are secured by deposit with trustee of first mortgages on improved city I real estate "in amounts at least equal to the bonds outstanding," · 0 Sept.is·;91··3i;o;70 Assets Jan. 1, 1898, were $16,207,482, including New York City Semfan. tmm~n·7·········· bonds, $613,795; mortg,~s, $6,080,015; other stocks and bonds, Sept. 1s' •in' 4% Semi•an 4' 015' ooo §fe~ ·• 8 DI~~NDS·.-0~· 1st p;efei'.red in full to d~te. On 2 d. pr;fer;ed in $840,179; cash on hand an ill bank, $1 ,312,9:75 .. Deposits, $7,284,073. OFFICERs.-Presid~nt, Ge<?rge W. Youn~, V10?-President, Luther 1895, 6 p. c.; in 1896, April, 4 p. c.; Oct., 2 p. c.; in 1897, April, 4 p. c.; ept 4 p c SPoon 1i preferred in Oct 1 8 96 was reported to carry Kountze; Second V10A-fr.es1dent, J!l-mes T1mps_on, Trea~urer, Arthur Turnbull; Secretary, William P. Elliott. Executi1Je Oommittee-Charles ·• • ' d • · • • ·• D. Dickey, Jr., Theodore A. Havemeyer, Charles R. Henderson, Gustav l6 p. o. of accumulated diV1den s. United l'lta• es Bh1cu tt.-Organized in 1897 to be a consolidation E. Kissel, Luther Kountze, James Timpson, Richard A. McCurdy. United states Kubber.-ORGA.NIZ.A.TION A.ND PROPERTY.-Or Co., Manufacturing & Biscuit -of the New York Biscuit Co., American United States Baking Uo., National Cracker Co., Decatur Cracker Co., ganized under laws of New Jersey in October, 1892, for the manurac·the Hamilton co., ancl a number of smaller companies. Capital stock ture of rubber boots and shoes, etc., and either owned absolutely or per . ;$30,000,000 common and $2 ,000,000 of 7 p. o. non-cumulative pre- manently controlled nine out of the :fifteen concerns then engaged in ferred. Bonds of olcl companies have been as umed. The plan of con- this business, including the American Rubber Co. of Boston, tht\ Can..solidation and hasis of exchange of old securities were given in V. 66, dee co. of New Haven, the Goodyear Rubber Co. of Naugatuck, eto . Real estate, machinery, lasts, etc., were appraised at $5,055,000; other .P, 82, 134. assets, manufactured goods, bills receivable, etc., at $6,491,900. ApUnited States Cordage.-dEE STANDARD ROPE & TWINE Co. to N. Y. Stook Exch. in 1892, in V. 55, p. 1039; also see V. plication 662 64 56, p. 539. In May, 1893, the Woonsocket Rubber, Marvel Rubber and , 844 · , P, United Electric Securltle• Co.-s ee V · United Gas J,nprovement Co.-Organized in 1882 in Pennsyl• Lawrence Felting Companies were absorbed, $5,851,400 preferred and vania and reorg-anized in 1885. Charter is perpetual and business is the same amount of common stock being issued therefor, and $140,000 the buildi, g, leasing and o era.ting of gas works. Capital stock is preferred and $323,400 common were issued in August for stock of 11,500.000, having been increased from $10,0l 0,000 in December, Colchester Rubber Co. and Rubber Manufacturers' Sellin!? Co. Empire State Rubber oo. was formed in July, 1897; factories at Setauket, N. 1895; outstanding May, 1897, $11,394,650. Dec. l, 1897, this company leased the Philadelphia city gas works J.; controlled by u. s. Rubber.-V. 65, p. 235. N. Y. Belting & Packing until Dec. 31, 1927. Bee t erms of lease in V. 65, p. 41a, 926, 941. co. property i,urohased bys. P. Colt, Secy. of U. s. Rubber. in Dec., The Improvement Co. reserves tbe right to asl"ign the lease to tlle 1897, for $675,000. In March, 1897. Treasurer Flint testified before Equitable Illuminating Ga Lighti Co. of Philadelphia or other corpor· the L·exow Committee that the U. s. Rubber Co. controlled 65 per cent of the output of the country. ation, but without diminishing its own obligation. STOCK.-Preferred stock has preference as to assets and earnings, DIVIDENDS-Since 1889, 8 p. c. per annum, payable quarterly. In .Jan., 1896, paid extra dividend of 15 p. o. in couvertible scrip. Presi- and no bonded or mortgage debt oan be created without consent in dent, Thomas Dolan; Secretary and Treasurer, Ed ward C. Lee, Drexel writing ot holders of three·fourths of each class of stock. Common is entitled to all surplus after eight per cent on preferred. See wording Building, Philadelphia. (V. 65, p. 413, 782, 926, l:J41, 1072.) United state,. Expres•.-An "association" organized under the or pref. certificate in editorial of May, 1893, SUPP LEMENT. 1898. 1897. 1896. 1895. l '!94. .laws of New York State in 1854; not incorporated. Overated June DIVIDENDS, p. ct. 1893. Feb., ~ % ..... . o 212 o Common .... ... . . 5 o 30, 1895, on about 30,000 miles of railroad in the United States. ln Jan.,2% 6 Preferred ....... _. c ~ - 8 p . c. yearl)--~ September, 1887, the stock was increased $3,000,000, raising it to -$10,000,000, and the Baltimore & Ohio Express was purchased. On In 189 paid on preferred, Jan., 2 per cent. See V. 6[,, p. 1073. .June 30, 1.897, the B. & o. owned $680.000 u. s. Express stock. BusiANNUAL RKPORT.-Fiscal year en« ls March 31. The a.nnual state• ness on the Lehigh Valley systew was acquired in February, 1893, and on the Chicago Milwaukee & !3t. Paul in February, 1894; on Miss• ment for year ending March 31, 1897, was giT"en in V. 6i, p. 998. 1895. 1896. 1897. tssippi Division of B. & O. Southwestern in March, 1895. $2,~30,243 $2,632,939 DIVIDENDS. l 1881·87. '88. '89. '90. '91. '92. '93. '9,1. '95. '96. '97. Gross income .............• $2,2t3,4S4 213,873 293,148 243,822 Rent, expenses, etc........ ;, 3 O 2 2 4 2 4 5 5 Since '80, p. o. 5 4 yly. Union Type Wrlter.-Stook is as follows: 'f-21 Glass. E· ~· ···· Outstanding. $1 2·888·888 Di?Js. When Pd. Di?Jidends Paid lJnlon Type Writer 1 97. 1 96. 1895. 1 94. 1 93. DIVIDEND'-. 7 7 "l 7 1st pref. p. o....... • • • ... .... 5 a12 8 6 6 O 2dpref.p. o ..... . ......... .. c O Overdue on 2d pref rred-In Oct., 1897, 2d pref., 16 p. c. ($641?,400.) United State11 Le11.ther.-URGANIZATION, .ETc.-Incorporate<1 ..lfeb. 25. 1893, under the laws of New Jersey to take over the properties and business of a large number of concerns for many years engaged in the ,t;a,nning and sale of sole and belt leather. Assets, it is said, amoun; to at least seven times the amount of the debentures, about 40 per cent .representing real estate and the balance hides, bark a.nd other personal property. v. 56, p. 757; v. 57, p. 23. commenced busmess May :l, 1893. STOCK.-The capitalization is $6-1,000,000 common and $64,000,000 of ij per cent cumulative preferred stock; authorized ror actual property, exclusive of good will, $60,000,000 of each and $4,000,000 of each (in .July, 18951, on account or bark, land~, etc. See V. 61, p. 114,737. Bee wording of pre!. certificate in editorial of May 1, 1893. SUPPLE~lENT, 1898 . 1 97. 1896. 1895. DIVIDENDS. Jan., 1 % 4 1 Preferred p. c. • ... .... 6 Overdue on preferred to February, 1898, 26 per cent. BoNDs.-The debentures were issued to furnish working capital. .Sinking fund 4 per cent of issue yearly, the debentures to be pur-ohased or drawn at 110. Debentures for $9,653,000 have been certi· fled by the trustee, but to Aug. 1, 1896 (date of cancellation each year), $6,000,000 debentures only had been issued and $720,000 of these retired by sinking fund. Central Trust Co., N. Y., is trustee and registrar of the bonds. See adv. in CHRONICLE of May 6, 1893, and application to N. Y. Stock Exchange V. 57, p. 23. GENERAL FINANCES.-ln July, 1895, the stockholders authorized -$4,000,000 additional common and$!,000,000 pr.eferrodstock to make .good undervaluation of bark lands, as per agreement at time of pur· ohase thereof.-V. 61, p. 114. .ANNu.A.L REPORT.-Fisoal year ends Dec. 31. Report for 1896, with t · 422 h t · v 64 b 1 l•u • gave no 8t a t ement O r eara.mgS, • :P· · a anoe 8 ee • m merely balance sheet showmg pro:tit and loss surplus of $a.869,962 on Dec 31, 1896. In 1895 net profits for year, including interest in un• •divided earnings of other companies, $9,367,854. OFFICERS-President, James Horton, Brooklyn: 1st Vice·Prest., E. R. La.dew; 2d Vice·Prest., L. H. Lapham; 3d Vice·Pre t., James R. Proo· -tor; Sec'y, Josiah T. Tubby, Brooklyn, N. Y.; Treasurer, James R. Plum, N. Y. City. N. Y. 01.Hce, 26 Ferry Street. (V. 6-l, p. 42, 18:l, 422.) United States lll.ortgage & True1t Co.-Chartered in 1871. Formerly U. S. Mo1·tgage Oo.; present name as urned lt'eb. 23, 1895. SrocK.-Capital stock is $2,000,000; par, $100. Surplus, $1,100,000 undivided profits June 30, 1897, '1,198,101. DcvrnENDs.-In 1894, 6 -;p. c.; in 1895. 6 p. o.; in lts~6, 6; in 1897, ti; in l 9::l, Jan., 3 p. o. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $2,716,370 $2,339~791 Balance .............•.• $1,999,612 :J,l,552,040 $1,552,040 Dividends on preferred. __ $1,552,040 (212%)504,150 .. . . . . . .. . .. Dividends on cowmon .... (2% 403,320 __ _ $660,180 $787,751 $14,252 surplus ror year ...... _ The "gross income" in 1897 was made up of the results from operations of plants and dividends on invest •nents, $1,614,229, and of net income from commission on sales of rubber boo ts and shoes, $629,205. BALANCE SHEET APRIL l, 1897. $441,654 Cash ... . -· ....... -. . . . • $505,0221 Aooounts payable_.... 998, :iO Preferred stock .....•• 19,400,500 Notes, etc., receivable. f>i-1,749 Common stock .•••.... 20,166,000 Merchandise .....• ·-··· 994,765 cnvestments ........... 39,014,4321 Due <'Ompanies. .... .. . 90,134 Surplus assets. . . . . . . . . j Total liabilities ...... $41,093.053 Total assets ......... $41:093:053 DIRECTORs.-Samuel P. Colt, Rouert D. Evans, James B. Ford, Charles R. Flint, J. Howard Ford, Robert M. Gallaway, J. D. Vermeule, Eienry L. Hotchkiss, Charles Stewart Smith, Charles L. Johnson, M. C. Martin, Frederick M. Sheppard, William L. Trenholm, Samuel N. Williams, Geo. E. Weed. The officers are: President and General Manager, F. M . Sheppard; 1st Vice President, James B. Ford; Secretary, Samuel P. Colt; Treasurer, Charles R. Flint. N. Y. Office, SB Reade Street.-(Y. 61, p. 235, 1072, 1115.) United States Sugar Keftnery .-SEE v. 61, p. llCll; v. 63, p. 604. Virginia & Tennessee Coal & Iron· Co.-See SUPP, Oct., 1897. Wague1· Palace Car.-See page 159. Wells, Fargo Expre•s.-Incorporated under the laws of Colo Was operating June 30, 1895, on rado January 26, 1872. 29,460 miles of railroad, including Atchison , Erie and Southern Pacilio systems. No annual reportis or tnrormation. In ){arch, 1888, this company bought the Erie Express of the Erie Railroad, and (from November 1, 1896,) operates over the lines of the K. c. P. & Gulf Railroad. Dividends or 8 p3r otmt yearly were paid for many years, but the semi•annual dividend paid in July, l894, was reduced to 3 p. c.; in 1895 , 6 p. o.; in l896, 6 p. c.; in 1897, 6 p. o. ; in 1 9 , Jan., 3 p. c. Stock increased $1,750,000 in 1894 to $8,000,000. -(V. 6a, p . 56J.) Welsbacti Com.rnerclal Co.-Incorporated June 27, 1895. organtzed to sell incandescent lamps manufactured for use in the United States. Controls Welsbaob Light Co. by ownership of majority of its capital stock, 105,025 shares, par, $5 per share. Co ,upany also control-1 American rncan iescent Gaslight Co. and Manha.ttan Incandescent Light Co. Capitalizatton, $7,000,000 of stock, one half preferredcumulative 8 p. t>.; tllen common is to receive 8 p. c.; then both share pro rata. JANUARY, 1898,] MlbCELLANEOUS STOCKS AND BONDS. 137 Snb8crlber8 will conCer a great f'avor by giving Immediate notice oC any error discovered in these Table8. MISCELLANEOUS. I INTEREST OR DIVIDENDS. IBonds-PrinoiDate Size, or Am t - - - - - - - - - - - - - - - - - pal,WhenDue. For explauation of column headings, &c., see notes on l of Par Outst~~g Rate per When Where payable and by lStocks-Last first page of tables. Bonds Value. _ _ _ _ _ Cent. Payable 1\'hom. Dividend. 1 1 'Welsbach Oommercial Oo-Common stock, $3,500,000.... . . . . $100 $3,500,000 ... . . . ... .. Preferred.stock, 8 p. c. cumula~ve, $3,5~0,000......... 100 3,500,000 8 Q.-M. Welsbach Light Co.-Stock authorized, $52a,125_......... 5 515,932 Text. Q.-M. Wells, Fargo ct Oo. Express-Stock.......................... 100 8,000,000 6 in 1897 J. & J. Western Gas-Stock $4,000,000.. .. . ... . . ... . ... ......... .. . . .. 100 4,000,000 5 in 1897 J. & J. Collateral trust 1st M., $4,000,000, gold, red. at 110 .. c* 1 8 9 3 1,000 3,805,500 5 g. M. & N. Western Transit Co.-Bonds gu.p.&i.by N. Y. C. ext. in '94 1884 1,000 1,500,000 4¼ F. & A. Western Union Telegraplll-Stock.. ... . .. ...... .... .. . ...... 100 97,370,000 5 in 1897 Q.-J. Realest. bds.,g., (lien on W.U.Bldg., N.Y.C.)s.f.(not.dr.). 1872 1,000 1,163,000 7 g. M. & N. De1>entures (it drawn, surrender is optional) ........ c &r '75-'84 1,000 4,920,000 7 M. & N. Debentures, sinking fund 1 per cent, drawn at 100 .... o 1875 £100&0 781.002 6 g. M. & 8. Collateral Trust bonds .................................. c* 1888 1,000 8,50.!,000 5 J. & J. Westinghouse Electric & Manufactur'g.-Old com. stock... . . ; . 50 114.350 . . .. 18 89 1890 1889 . . .. 1888 1890 . .. . . . 1,000 ...... 1,000 1,000 1,000 100 100 . .. . .. 1,000 1,000 100 100 ANNUAL REPORT.-For year ending Aug. 31, 1897 (See v. 65, p. 1.0~1), gross, $427,315; net, $292,094; dividends, $280.000; bal., surplus for year, $12,094. For the 13 months ending Avg. 31, 1896, .gross, $520,171; net, $356,030. DIVIDENDS.-On preferred in 1896, 8 p. o.; in 1897, 8 p. c. N. Y. -Office, 40 Wall St. (V. 63, p. 1061; V. 60, p. 1021.) Welsbach Ll~ht.-A consolidation in 1892 or three companies, This company manufactures the Welsbach lamps, and is controlled :by the Welsbach Commercial Co. In 1895 the annual output was 2,500,000 lights, but the manufacturing facilities have been enlarged to an annual capacity of 5,000,000. DIVIDENDS-In June, 1893, first dividend, 2 p. c.; in 1894, 16 p. o.; in 1895, 70 p.c.; in 1896, 80 p.c.; in 1897, 80 p.c. (20 Q-M.) EARNINGS.-Extracts from report for the tiscal year ending April :30, 1897. were given in V. 65, p. 152; dividends amountin~ to $412,745 were paid. In 1895-~6 net earnings, $506,939; four quarterly dividends, $412,740; inventories and interest on bonds charged off, :$60,067; balance, surplus, $34,132. President, W. E. Barrow8, Drexel !Building, PhiJa.delphia.-(V. 65, p. 152.) Western Gas Co. (ffllhvauttee).-Organized in 1893 under the faws of New York. Owns entire capital stock of Milwaukee Gas Light Co., this latter company bein~ entirely free from encumbra,nces. See -statement to N. Y. Stock Excnange in May, 1897, in V. 64, p. 1182. BONDS.-The collateral trust bonds are secured by deposit of all the ,capital stock of Milwaukee G. L. Co. Mortgage is for $4,000,000: unissued bonds being reserved for e~ tensions and improvements. Trustee, Central Trust Co., N. Y. DIVIDENDS.-In 1895, 4 p. c.; 1896, 5; 1897, 5; in 1898, Jan., 3 p. c. EARNINGS of Milwaukee Gas L. Co. In year ending Dec. 31, 1897, net, $489,211; 1896, nt t, $434,567; fixed charges, $188,386; dividends, -$200,000; balance, surplus for year, $46, 181. In 1895, net, $412,258; .charges, $179,970; dividends, $160,000; balance, surplus for year, • -$72,288. Prest., .Emerson McMillin, New York.-V. 64, p. 1043,118i. Western Transit Co.-Owns piers in Buffalo, N. Y., fleet of 15 eteamers and also barges used on the Great Lakes. Has valuable real -estate in Buffalo. The N. Y. Central owns its $1,000,000 capital stock. Western Union Tele!?raph.-Orgamzed under the laws of New York State as the N. Y. & Mississippi Valley Printing Telegraph Co. -on April 2, 1851, and name changed to present title by Act of Ne..,.; York Legislature approved in April, 1856. On Jan. 19, 1881, was -dated the grand consolidation, in which the Western Union raised its stock to $80,000,000, giving par, or $15,000,000, for the stock and bonds of the American Union, 60 per cent in new West. Un. for tto~ ~~~eh~g!r::11d a stock distribution of 48¼ per cer,t to West. DIVIDENDS.- . ?_ '87. '88. '89. '90. '91. '92. '93 to Oct.'97,incl. Since '86, p. o.. 5 2 5 5 5~ 5 15 (l0sc.) 5% (114 Q-J.) In November, 1887, an issue of $5,000,000 of stock was made in pay• ment for the telegraph system o.t the Baltimore & Ohio Telegraph Co · -On June 30, 1897, the B. & 0. still owned $4,090,000 W. U. stock. In October, 1892, the stockholders voted to increase the stock from $86,200,000 to $100,000,000, of which $8,620,148 was then paid as ecrip div. to represent surplus earnings expended on the property. In July, 1894-, $550,000 stock was issued for purchase of American Rapid Tel. Co. lines, until recentlv operated under lease. In June -1897, $2,000,000 stock (making total $97,370,000) was sold fo; improvements, etc., made in 1893 to 1896 tlscal years-V. 64, p.1139. BoNDs.-The collateral trust bonds of 1888 (trustee, Mercantile Trust Company) are issued to retire an equal amount of stock and bonds of various telegraph and cable companies for the interest or dividends on which the Western Union Company is liable, these when so r~tired to be held as security for the new bonds. On June 30, 1896, the following 8 tocks (par value) were pledged for the collateral trust bonds: Gold & S took Telegraph, $1,041,200; International Ocean Telegraph, $1,fl31,· 9 00 ; N. Y. Mutual Telegraph, $2,384.,900; and bonds, Mutual Union T elegraph, 6s, $3,043,000. LEASED COMPANIES.-Under leases the company aside from other ntals pays interest and dividends as below. On June 30, 1896, the mpany owned the following stocks of the several issues included low as outstanding: Franklin Tel., $632,900; Gold & Stock Tel., ,44.3,800; Int. Ocean Tel., $23,100; Ill. & Mississippi Tel., $100 350· ·aoific & At. Tel., $1,457,500; Southern & At., $390,475. ' ' Lease Int. or div. Bonds Oompan y, ~c. expires. Amount. % Period. mature. Am. :rel. & Cable stock. 1932 $14,000,000 5 Q-M No bonds. E mpm~&Bay State, st'k 1989 300,000 4 Q-M No bonds. F ranklm Tel. stock..... 1975 1,000,000 2¼ M&N No bonds. Gold & Stock Tel. stook.Jan.,1981 5,000,000 6 Q.-J ...•.•...... Bonds $500, notmort. 500,000 6 M&N May 11895 lllnois & Mississippi ' Tel. stock, perpetual.. 1,930,495 4 J&J ............. . futern.Ocean Tel.st_o ck.Jan.,1981 3,000,000 6 Q-J No bonds. N. Y.Mut.Tel.stock($25)Feb.,1982 2,500,000 6 Mutual Un. Tel. 1st.. ,r5,000,000 6g. M&N May; .ii:iii Northw. Tel. stk. ($50).My7,1980 2,500.000 6 J & J ...•••.••••• 1st mort. int '5llar. . .. 1,180.000 7 J & J Jan., 1904 Pao. & At l. stock ($25). 99 years 2,000,000 4 J & J No bonds. ~ Atl. stock ($25).999 years 948,875 5 A&O No bonds. 'IT N OTE.-Of these $3,04 3,000 are held under Western Union coll. tr. mortgage and b ala nce, $1,957,000 are in h ands of the public. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . ...... . Dec.10'~7, 2% Dec. 23, 97, 20 Jan. 15,'98,3% Jan. 20 '98, ~ % May 1, 1933 Feb. 1, 1903 Jan. 15,'98,114 May 1, 1902 May 1, 1900 Moh. 1, 1900 Jan. 1, 1938 gg ::~~i:i~: 7 in ·is97 cf.::j. N. Y., Office: 120 B'way J an:s:•9s;i ¾% 400,000 6 M. & N. .... .. . . . . In 15 years. ~~~~oo;oooi stock; 7 ·cum: (see· remarks): ifr~~n~f. p."c:, U. S. Electric Light Co. bonds ($50,000 paid yearly).... 'Collateral trust, $1,250,000. ........ ....... .... .......... Old scrip for dividend..................................... Wheeling B1'idge & Te1·minal. Ry-First mortgage,gold.c" Second mortgage (income till March, 1892), gold ....•.. Wheet. L. Erie & Pittsb. Coal-1st M., gold, red. at 105 .. c* 'Whitebreast J.iiiet-Common stock, $1,200,000 ..• ~·. .. . ... . . Preferred stock, $800,000.......... .. . . . . . ... .. . . . • . . .. . . . Scrip for preferred stock dividends 1893-'94...... ... . . . Gen. M., (now 1st) gold, s. f., $30,000,drn. at 110.ck&r. Iowa & Ill. Coal 1st M., gold, guar., s. f., red. at 110 .. c"' Henry R. Worthington (Pump)-Common stock............ Preferred as to assets and dividends 7 p. c. cum........ ... ....... N.Y., Office, 40.WallSt. Checks mailed. N. Y .. Office, 63 B'way. Check mailed. N. Y .. J. & W. St-ligman. N.Y., GrandCent.Stat'n N. Y., Office, 195 B'way. N. Y., Union Trust Co. N. Y., Treasurer's Office. London,Morton,R.& Co. N. Y., Office, 195 B'way. 590,000 5 J. & J. .......... 1905 194,560 . . . . . • M, & s. N. Y., 120 Broadway. Sept., 1900 2,000,000 6 g. J. & D. Dec. '91 coup. last paid. Dec. 1, 1939 1,500,000 6 g. M. & 8. None paid. Sept. 1, 1940 846,000 5 g. J. & J. Jan., '97, coup. last p'd. Jan. 1, 1919 780,000 N. Y., Office, 18 B'way. Oct. 1, 1891 520,000 Feb. 1, 1894 41,600 6 ..... ... ..... .. . ...... . 449,000 6 g. J. & D. SeeCHRON.,v.62~p.1140 June 1, 1908 540.000 6 g. J. & D. do a.o June 1, 1920 5,500,000 . .. . . . . .. Paid 3¼ p. c. May 1, '95 May 1, 1895 2,000,000 7 in 1897 M. & N. N. Y., Guaranty Tr. Co. Nov. ;t, '97, 3¼ 1 1887, Oct. '88, to Jan., '98, incl. since 1886. 5 2%, 5 p. o. yearly (114 quar.) Extra divldends: Jan. 15, 1890, ¾ p. c.; Dec., 1892, 10 p. o. in stock• LATEST EARNINGS.-The estimated revenue for the six rronths ending Dec. 31, 1897, compares with actual results in 1896 as follows: 6 monthsNet 1•evenue. Int. & s. f. Dividend. Balance. 1897 (Dec. est.) ...... $3,303,851 $44~,918 $2,433,947 $420,986 1896 (actual)........ 3,132,987 416,717 2,383,922 302,348 Total surplus Dec. 31, 1897 (estimated), $8,068,526, against actual surplus in 1896 of $7,906,041. ANNUAL REPORT.-Statement for 1896-97 was in V. 65, p. 727. 1896-97. 1895-96 1894-95. 1893-94. Year ending June 30. $ $ $ $ Revenues for the year .... 22,638,859 22,612,736 22,218,019 21,852,655 Oper.exp's,rent.,t'xes,&c.16,906,657 16,714,756 16,076,629 16,060,170 DIVIDENDS.-?_ Net profits ....••.....• 5,732,202 5,897,980 6,141,390 5,792,485 Dividends vaid ......•.... 4,792,855 4,767,805 4,767,734 4,740,064 lnterest on bonds. . . . . • . 895,510 893,967 893,822 891,616 Sinking funds............. 39,990 39,991 39,991 39,991 Totaldisbursements.; 5,728,355 5,701,763 5,701,547 5,671,671 Balance of profits..... 3,8-17 196,217 439,843 120,814 Miles of Miles of No. of Year. Poles&C'bl's. Wire. Offices. Messages. Receipts. Profits. 1866·67.. 46,270 85,291 2,565 5,879,282 $6,568,925 $2,624,919 1879-80 .. 85,645 233,534 9,077 29,215,509 12,782,894 5,833,937 1890·91..187,981 715,591 20,098 59,148,343 23,034,326 6,605,587 1892·93 .. 189,936 769,201 21,078 66,591,858 24,978,443 7,496,037 1893·94 .. 190,303 790,792 21,166 58,632,237 21,852,655 5,792,485 1894-95 .. 189,714 802,651 21,360 5~,307,315 22,218,019 6,141,389 1895·96 .. 189,918 826,929 21,725 58,760,444 22,612,736 fi,897,980 1896-97 .. 190,614 841,002 21,769 58,151,684 22,638,859 5,732,203 Office, 195 Broadway,New York City. (V. 65, p.195,464, '12'1, 1127.) Westinghou8e Electric & Manufacturing Co.-ORGANIZA'I'ION.-A Pennsylvania corporation manufacturing and selling dynamos for isolated and central station lighting, motors and generators for stationary work and street 1ailways, arc and incandescent lamps, and a general line of appliances used in the commercial applloat1ons of electricity for lighting and power purposes. Statement to N. Y. Stock Exchange was in V. 54, p. 763. The company owns exclusive rights to the 'l'esla patents on alternating currents.-V. 61, p.25, 153. In March, 1896, an agreement was made with the General Electric Co. for pooling patents. See V. 62, p. 502, 635, 1040. In 1891 by exchange of stock secured 14,624 shares of the United States Electric Lighting Company out·of a total of 15,000. CAPITAL t,TOCK.-Stock authorized is $15,000,000, increased from $10,000,000 in June, 1896, to provide for improvements macte and future needs V. 62, ·p. 689, 104·1 ; V. 63, p. 31. Of this, $3,000,000, making assenting stock $8,195,126, was listed in July, 1896. All classes have same voting power. The first preference stock carries cumulative dividends of 7 per cent per annum, with right to participate equally with other stock after the same shall have received 7 per cent, and preferential as to principal. See wording of preferred certificate in editorial of May, 1893, SUPPLEJ\IENT. DrvmENDS.-On preferred from Feb., 1892, to Jan., 1898, inclusive, at rate of 7 per cent per annum. ANNUAL REPORT.- Fiscal year ends March 31. Report of March 31, 1897, was given in V. 64, p. 1222. No fl"'ures of earuings were given, but dividends on preferred were said to have been earned and a surplus over. Latest earnin~s reported are for the year 1894-5 in V. 61, p. 25, and were: Net earnmgs from business, $784,699; from other sources, $67,710; total, $802,409, against $1,640,809 in 1893-94; in• terest paid on bonds and scrip, $69,061; dividends on pref. stock, $274,059. Balance sheet Mar. 31, 1897, was in V. 64, p. 1222, showing Current liabilities-Accounts payable, $484,534; bills payable, $1,606,658; contracts, etc., $1,134,560. Ourrent assets-Cash. $330,194; bills receivable, $43,207; accounts receivable, $1,604,547; materials on hand, $1,636,612. DIRECTORS.-Brayton Ives (Chairman of the Board), Charles Francis Adams, Lemuel Bannister, August Belmont, N. W. Bumstead, A. M. Byers, Marcellus Hartley, G. W. Hebard, Henry B. Hyde and George Westinghouse, Jr. President, George Westinghouse.Jr.: 1st Vice-President, Lemuel Bannister; 2d Vice-President, B. H. Warren; 3d VicePresident and Treasurer, P. F. Kohbe. N. Y. office is at 120 Broad way.-(V. 63, p. 31; V. 64, p. 12i~, 1228; V. 65, p. 1127.) Wheeling Brld~e & Terminal Rallway.-Owns a railway bridge at Wheeling, W. Va., completed in 1891, and about 10 miles of terminal tra ck, connecting with the Cleveland & Pittsburg, Cleveland Lorain & Wheeling and Wheelin g & Lake Erie on Ohio side, and Baltimore & Ohio, Ohio River Railway aud Pittsburo- Wheeling & K e ntucky (Pennsylvania system) on the Wheeling siae. An extenslon of 3 miles from Wheeling to Benwood was completed in March, 1895, with receiver' s oertificates,since paid off. 8TOCK.-Au •horized$1,500,000; par, $100. No reorganization plan to April,1897. C. O. Brewster is receiver. EARNINGS.-For year ending Dec. 31, 1895, gross, $100,· · 042; n et, $41,347. In 189!, gross, $67,813; net, $20,458. Wheeling Lake Erle & Pittsburg Coal.-See page 159. Whltehrea8t Fuel.- (Plan V. 62, p. 1140. ) -See SUPP., Oct., ' 07. Winona Bridge. SeA RAILROADS. Ui 8 m= For INVESTORS' ~UPPLEMENT. f VoL. LXVI. Securities nu,tstandinq see the tables on paqe.~ 146 to 157, inclvsi-ve. Americ a n District T e l~:?:raph.-RAe SUPPLEMEN'I' or .fan., 1893. 1 Co., with a capital stock of $5,000.000 (same as old company) and Annu_al report for year endmg Dec. 31, ~8~6, was in V. 64, p. !'J28, ~ded debt of $180,750 (again t $300,000 of old company.) v. 62, p. sbowmg gross, $545,840; net, $57,182; dividends (1 p. c.), $38,44!; 180; V. 64, p. 133; V. 65, p. 326,410,570,619,728. bal. sur. for year, $18,741. In 1895, gross, $554,957; net, $80, 63 .>. Cambria Iron Co.-Incorporated in 1852 in Pennsylvania under DIVIDENDS.-51891. 1892. 1893. 1894. 1895. 1896. 1897. perpetual charter. Owns blast furnaces, rollin1,; mm~. F>t,eel works Per cent. c 1 212 312 1 3 1 2 etc., at Johnstown. Pa., and in counties of Cambria, Bedford, Blair' Office, 8 Dey st., N. Y. City.-V. 64, p. 32'7', Fayette, India."!]-a, Somerset and Philadelphia, in _Stat_e o~ Pennsylvania~ ~merlcan Electric Heatln2; Corporatlon.-A con1>olidation STOCK.-:-Capital ~tock ($lO,OOO,OOO) outstanding 18 $7,974,550 (par in March, 1896, or prominent electric heatin1,; companie.,i. Capitaliza- $ 5 0>, havm_g been mcreased in June, 1895, from $5,000,000. See V. 60 tion-Stock $10,0<;)0,000 (par $50) and $_500,000 of l5-year 5 per ce11:t .oRi:i~~~J;, ra!;b~e!~~id for many years; from 1893 to Oct., 1897, income bonds, whrnh a~e to be cumulative after Jan. 1 , 1 8 98 - Presi- at rate of 4 per cent per annum. A stock dividend of 1212 per cent dent if· Murray Forbes, Gen. Man., James J. Ayer. Office. 611 Sean~ was paid in 1895. building, Boston. See full statement V. 6~. p. _58 7 ,_ 634; V. 63, P• 793 . fn April, 1897, iRsued $2,000,000 (amount authorized $2,500,000) AmerJcan Grocery Co.-A reorgamzat10n m June, 1894, of 6 p. c. gold debentures, of which $1,300,000 to pay off loans and Thll!ber-Whyland Grocery Co. It has been proposed to win<t up t"!Je $700,(?00 to purchase ore property.-V. 64, p. 753-see wordin~ of affairs of the company-see V. 64, p. 950, 1180; V. 65, p. 868 . Stock is: bond m V. 64. p. 951. Debentures are subject to call at p a r on and Common, $1,000,000; 1st pref., $410,840; _2d pref.,. $1,500,000 -par after July l, 1902, on 30 days' notice; trustees, Powell Stackhouse and ($ 1 ). DIVIDENDS.-(?nfir_st pref,,,rred paid 3 p. c. m Oct:, 1896. Re- Edward T. Stotesbury. port for 1896-7 was given m V. 6 5, J?· 3 66. T. L. Marsalis, Pres. a nd EARNINGR.-For tbe year ending Oct. 31, 1896, no report issued, but Gen. Manager.-(V. 65, p. 19 4 , 366, • 77, 868.) . profits are sald to have been about $720,000 (equal to 9 per cent on American Screw Co.-See statement Dec. 31,1896,m V. 64, p. 607. stoc k); dividends (4 per cent), $319,000; improvements. $160,0110.Am.e:rlcan -..oda Fonntain Co.-Formed in 1891 under laws o:f V. 64, p. 286. In 1894-5, total income, $719,331; pain dividends (4 New Jersey to manufacture soda water apparatus and supplies. per centl, $200,000; guar8'.nty on new stock issue $100,000; bettei:DIVIDBNDS.-On 1st and 2d preferred. stocks in full to Nov., 1896, ments,.etc., $293,185; leavmg a 1:mrplus or $124,146; balance to credit incl.; 1897, none. On common stock to Feb., '96, 10 p. c yearly; in May, of !)rotit and loss Oct. 31, 1895, $3,728,100. - (V. 64, p. 9n '-·) '96,134 p.c.; Aug., 1s4p. c.; Nov., 134 p. c.; in 1897, none. Canton Company.-See SUPPLEMENl' or April, 1897. GENERAL FINANCES.-On Dec. 31, 1896, there were loans tunse Cataract Pow-er & Condo.It. See V. 6 ·i , p. 1138. cured) to the company by its managers of $302,637 and additional Central Coal & Coke Co. of Kansas City. Mo.-Stock loans from the managers of $1,003,808 secured by customers' notes. listed on the New York Stock Exchange in June. 1895. This company, ANNUAL REPORT.-Report for 1896 in V. 64, p. 284, showed loss on organized under the laws oi' Missour1 April 16. 1893, is enga~ed in operations of . $61,079: dividends paid from accumulated surplus, Missouri, Texas and Arka:osas in ~he mining of coa~ and the manufac$196,875, leavmg total surplus $66,914. In 1895 net earnings $321,- ture of coke, lumber, railway ties, &c. It bas ume coal shafts in 727. N . Y. office, 449 First Ave. (V. 64, p. 887.) opera~ion, with a reported annual outpu~ of ab_out 1,090.000 tons. of American Stra·w Board.-Incorporated under tbe laws of Illl· bitumrnous coal; also two saw and plan~ng mills, having a capacity nois. In 1893, dividends, 2 per cent, paid in March and June, but none of ';15,000,000 feet per annum. The capital stuck t~ $3,ooq,o_oo, of since-See v. 62, p. 587. Total i ssue of llonds was $1,250,000, but which $1,500,qoo 1s preferred 5 per: cent cumu_!at1ve. D1v1dends they are being retirell hy sinking fund. Lt-ase canceled in April, 1897, on preferred paid ~ug. L5. 5 p. c. each m 1>194, 189.J, 1896 . . There are refer to the Standa rd Straw Board. v. 64 , p. 841. $560,000 of b~nds, $40,000 drawn each May 1 at 103 aud mterest to Aug. 1, followmg. V. 62, p. 868. M'NUAL REPORT.-During 1897 company earned lixed charges, sinkCentral Onion Telephone (flhtcago). -This company controls ing fund and reduced funded debt $170,000. V. 66, p. 182. Report the Bell Telephone business in .Indiana, in Ohio with the exception or for 1896, in V. 64, p. 327, showed: Cleveland and Cincinnati, in Illinois excepting Cook and four other 1806. 1895. 1894. 1893. counties, and in a numher of cities in Iowa. Cap. stock 1s $6,605,300. Gross income . ........ $2,278,390 $2,575,000 $2,199,000 In March, lb 96. a mortgage for $3,000,000 of 6 per cent 10 20-year Profits. ..... . .... . ..... 113,292 93,473 52,640 $342,176 gold bonds was authorized, of which $1,275,000 had been issued to Per cent on stock .. _. 1·88 1·55 0·87 5·70 Dec. 31, 1896. at which date unfunded debt was $400,000. During Bills payable Jan, 1, 1897. $285,000; total surplus Jan. 1, 1897, $227,- 1897 construction work will require about $600,000. Annual report 705. President (in Feb.,'97J, Crawford Fairbanks. General office, Old for 1896 was given in V. 64. p. ::J28. In 1>!96 paid oivldends amounting to $66,053; in 1895, to $330,265; in 1894, to $330,625; in 1893, to Colony Building, Chicago. (V. 64, p. 179,327,841; V. 66, p. 182.) Arnerlca n Type Founder"' , ·o .-ORGANIZATION.-Incorporated 113a0,000. President, Henry B. Stone.-V. 64, p. 328. Chesapeake & Delaware Canal.-Owns canal from Delaware in 1892 under laws of New Jersey to carry on the business of manufacturing and selling type. See CHRONICLE V. 55, p. 62:, and adv. City to Chesapeake City, Md. In June, 1893, bondholders were asked to accept 4 per cent interest (in place of 5 per cent, until contingent Early in 1896 over 98 per cent in interest of the stockholders, acting on the statement in V. 61, p . 1106, agreed to·exchange the $5,000~000 rund, reduced to $49,613, should again amount to $100,000. Interes, ls payable at the office in Philadelphia. For year ending May 31, common and $4,000,000 preferred stock at 15 for the common ana. 75 for the preferred into new common stock, making $3,750,000 in all.- 1897, gross receipts were $163,339; maintenance of canal, $46,955; net, $116,384; interest charges, $104,118; other charges, $221; bal.~ V. 62, p . 682. As part of the capital readjustment $500,000 gold 6 per cent bonds(part of a.n issue of $1,000,000, were issued in July, 1896; surplus, $12,045. In 1895-6 gross, $160,949; net, $113,181. Stoc~ trustee, Mercantile Trust Co., N. Y .; bills payable Aug. 31, 1897, $1,903,238; par, $50. President, Joseph E. Gillingham. $497,059-see V. 65, p. 822. Chicago & Atchison Bridge Co . -Owns a railway a.nd highway Dividends on preferred in 1893: 4 p. o.; none since. toll bridge across the Missouri River atAtohison, Kansas. whioh was ANNUAL REPORT.-The report for the year ending Aug. 31, 1897, was used by several railway oompanies. Stock, $1,191,600; par $100. in V. 65, p. 822, showing balance sheet, but no statement of earnings. There are 2d 7s for $142,750. June, •~4, coup. last paid; the bonds matured in 1895 but were not paid. First mortgage coupons due Jan. In 1895 6 net were $136,184. President, John E. Searles. N. Y. Office, 27 William St.-(V. 63, p. 1, 1895, and since remain unpaid. Bondholde1·s' Oommittee.-1:i". W. PPlton, John J. Shipherd, H. P. Eells (all of Cleveland), James J. · 115, 153, '792; V. t\5, p. 822.) Hi~ginson <N. Y.) and Chairman George S. Morison (Chicago). DeposiA tla s T a ck . -A Massachusetts corporation, successor to Atlas taries: Central Trust Co. of N.Y. and Citizens' Saving & Loan AssociaTack Co. sold in foreclosure April 27, 1897. Chairman or Commit- tion, Cleveland, O. The plan has been aocepted by a. majority of bonds. tee, Aaron Hobart, President Tremont National Bank, Boston. CapitalReorganization plan provides for new first 4s $665,000, and new iza1ion: stock, $700,000; undisturbed old company 1st mort. 6s, Boston Safe Deposit & Trust Co., trustee, $300,000. New 2d mtge. $1,- common $700,000; both old mort1,;ages to be foreclosed; old 2d 7s to receive par in new firsts and old 6s to receive 662.s p. c. in new firsts 000,000 coupon 5s gold J. & D. ($100, etc.); trustee, State Trust Co., Boston, where interest is payable. New 3d mtge., $100,000. REOR- and 85 p. c. in stock-See plan, V. 65, p. 3 6 6 . G.ANIZATION.-Old stookholders contributed $LO0,0U0 cash, receiving EARNINGS-Year ending June 30, 1896. ~oss, $55,L29; operating therefor new 3d mort. bonds and par in new stock for old stock. expen. & taxes, ;t-20,583; net, $34,545.-(V. 65, p. 366.) Creditors of old company to receive cash and new 2d mort. bonds Chicago Edison Co.-See V . 64, p. 998; V. 65, p.1023. for their claim11-(V. 64, p. 663, 841, 887; V. 65, p . 868.) Colorado Coal & Iron Developm.ent.-Formerly controlled by Bay State G a s Co. - Incorporated m 1889 under the laws of Del- Col. C•lal & Iron Co. Stock (par $LOO), common, $6,000,000, of which a.ware, and acquired $995,000 ofthe$1,000,000 stock of tile Bay State $500,000 held by trustee for benefit of stockholders-see below; preGas Co. of New Jersey, whlchla tter company owned substantially all the ferred, $500,000, non-cumulative, 5 per cent. See ruU statement to N. capital stock of the following companies supplying gas to the city of Y. Stock Exchange in December, 1892, in V. 55, p. 1112. John L. Boston: B ay State of Mass.; Boston Gasliizht, Roxhury Ga.. light and Jerome was appointed receiver .June 24, 1896, on application of Col. F. South Boston Gaslight. The stocks of thei;,e four ope ra.tin~ companies & Iron Co. Foreclosure proceedings under collateral trust mortgage were pledged to secure the bonds below mentioned, but their votin~ of 18}f2 were brought in March, 1897. V. 64, p. 567. Coupons du& power was acquired in Noveml'\er. 1897, for the New England Gas & Jan. 1 and July 1, 1896, were purchased. Sub. Land & I. coupons due Coke Co.-which see on a preceding pag.,-see also V. 65, p. 1221. Nov. l, 1896, were not paid See V. 63, p. 29 . President, Henry H. STOCK.-Stock (par $50) increased from $5,000,000 to $15,000,000 in Truman; New York Office, 40 Wall St.-V. 63, p. 29; V. 64, p. 567. October, 1895, to acquire "certain gas properties." In Sept., 1897, inComstock Tunnel Co . } See SUPPLEMENT of creased t o $50,000,000-see V. 65, p. 515, fl70, 778. As to reasons for Consolidated Electric Light. April, 1897, p. 153. this increase and history of Bay State Uo.-see CHRONICLE of D ec. 25, Detroit Mackinac & Marquette KR. 1897 , p . 1221. Detroit Union RR. , Depot & Sta tt o n .-Owns 40 acres of BoNos.-'l'he "Boston United Gas" mortgage of 1889 was issued by the B . S. Gas Co. of New Jer1>ey and !?ll.aranteed by the Dela.ware terminal property at Detroit, Mich., including 3 ½ miles steel traok, company. The mortgage is for $12,000,000 ~old bonds, of which freight house, grain elevator, etc., all except the elevator leased to the $7,000,000 were secured by depo it with the Mercantile Trust Wabash, the Flint & P. M. and the Det. G. R. & W. (formerly D. L. & N.) Co., trustee, of practically all the stock of the Boston, South Boston, companies at a fixed rental of $94,727 yearly. In year 1895 receipts Roxbury and Bay State (of Mass ) gas-light companies of Boston, said from rentals, elevator, etc., were $149,584; expenses, including taxes, t o have cost over $10,000,000. Of the balance ($5,000,000), $3,000,000 insurance and expense or elevator. $26,907; net income applicable to were reserved to a<'qnire other gas companies upon certain terms and dividends, $122,677. Dividends for five years, 1891-95, averaged 514 $ 2,000,000 for improvements. Each re~istered $1,000 bond is entitled per cent. Jan. 1, 1896, there was no funded nor floating debt. Acting to 5 votes. There is an annual sinking fund of one per cent of the entire President (Oct., 1896), James Joy.-(V. 53, p. 59; V. 54, p. 725.) i ssue, and bonds can l.le drawn at 105. All the bonds issued are deDuluth-Superior Brldge.-Owns bridge 1,094 feet long, comp osited with Mercantile Trust Co., N.Y., which ii;,11uesits Boston United pleted in July, 1897, uniting Duluth and Superior, Minn.-see V. 65, Gas trust certificates therefor. Company offered in October, 1897, to p. lll. The bridge will be used by the Duluth Street Ry. redeem its income bonds ($2,000,000) at par if $1,950,000 w ere d eIn Augu t. 1896, a first mortgage was made to the Central Trust Co., posited with Security Trust & S. D. Co., Wilmington, D el., for r edemp- N. Y., as trustee, for $650,000 of 5 p. c. gold bonds, due 1926, and in tion by Jan. 1, 1 98. Sentember a second mortgage for il300,000 5s of 1926, also to Central EARNINGS-Fiscal year ends June 30. Comhined earnings of the four Trust Co.-(V. 63, p. 310,504; V. 65, p. 111.) operating co~panies above mentioned, with balance sheets, in V. 65, Fort St. Union Depot (Detrolt)-See SUPPLE~t'T of April, 1897 p. 111.:, showrng: Hecker-Jones•Jewell lliilllng.-Organlzed under laws of New 1896-97 -···- .. . $2,012,018 $59~,589 $231,069 $528,000 $215,864 Jersey. Its securities are as follows: Last Div., ete. Pa1·. Interest. .A mmint. After deducting interes t, charges, e tc. Common stock ...... $100 $2,000,000 President (eleuted Nov., 896), j _ R. Bartlett.-V. 60, p. 184. 1st pref. stock....... 100 8 Q.. -M. 3,000,000 D ec. , ,'97,2% Boston & Montana Minlng.-V. 62, p. 363. 1st M., gold ..... __ ... 1,000 6 M. & S. 2,500,000 Sept. 1, 1922 S. f. subject to call at 110 after Sept. 1, 1902. Prer. stock has prerBrunsw-1"-k Companv.-Owns real eRtate an<t water front in Brunswick, Ga., and stocks in local cos. The property was sold m erence as to both asset s and dividends. Interest and dividends are p a yable at Franklin Trust Co., Brooklyn. Divict" nd~ on preferred to foreclosure Jan. 5 . 1897, and purchased by the committee of bondD ec., 1897, incl., 8 per cent per annum. President, Eugene Jones. holders for $60,000. Office , Produce Exchange Building. OommitteP,-W. 0. Allison (ch airma n), E. Urquha rt, A. G. Kraetzer , Interior Conduit & I11s11latlon.-See applica tion to New York Jr.; depository, Continental Tru t Co., N. Y. See plan or r eorganiz a Stock Exchange June, 1895. V . 60, p. 10611. tion in V. 65, µ. 326 . As es m e nt on stock, $::J p e r sh a r e . Sa le to Sprague Electri c Co. proposed in Oct., 1897, see V. 65, p 825 Name of n e w compa ny is to be Brun wick Dock & City Improvem e nt https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, MIS< 1 ELLANEOUS 1898,] m= For UOMPA1HES-SUPPLEl\JENTARY. Securities Outstanding see the tables on pages 146 to 157, inclusive. Iron Steamboat Oo.-Property consists of seven iron Rteaml>oats. For year ending Oct. 31, 1897, gross receiptA were $243,794: operating expenses, $137,120; terminal charges, $29,61 : rentals, $50,806; int. on bonds, etc., $28,204; bal., def. for year, $1,9J4. Tn 1895-6, gross, $255,864; deficit f-Or year under chargee, $2,986. In January. 1897, stock was reduced from $2,000,000 to $500,000. Dividends since 1886-In 1887, t½; in 1888, nil; in 1889, 2; in 1890, 2; in 1891, none; in 1892, 1; none since. President, Allen C. Washington. Pier 1, North River.- (V. 63, p. 9ti6, 1115; V. 65, p. 1021 .) .Jeff'erson & "learfield Coal & Iron Oo.-ORGANIZATION.Organized under the laws of Pennsylvania in May, 1896, to acquire the coal and other properties of the Bell, Lewis & Yates Coal Mining Co. See V. 62, p. 90t3: V. 63, p. 115. The securities of the new com• pany are included in the table on page 145 of this SUPPLEMENT. The propertv mortgaged consists of about 7,800 acre;i of lands in fee and coal rightti and 4,000 acres of leasehold lands. The present capacity of the mines is al>out 10,000 tons per day, but the greatest amount so far shipped in one year was 1,541,000 tons. ST0CK.-The $1,500,000 common and $300,000 of the $1,500,000 of 5 p. c. non·cumulative preferred stock is owned by the Rochester & Pittburg Coal & Iron Co., which places the control of the output from the pt·operty with the Buffalo Rochester & Pittsburg Rail way Co. Dividends-On preferred in 1897, .Aug., 5 p. c.-(V. 64, p. 517.) BONDS.-Trustee for first mortgage is the Guaranty Trust Co. of New York; for the second mortgage, the United States Mortga&:e & Trust Co. The sinking fund is 3 cents for each ton of coal minea, the p;1,y. ments not to be less than$50,000perannum, and the bonds to be drawn at 105 and accrued interest, if not purchasable for less. Any bonds so purchased or drawn are to be held uncanceled by the trustee, and the interest on them invested for the sinking fund. It is estimated that with these accumulations the firsts will be retired in twenty•three years and th~ seconds in twenty-eight years and six months. As further security for the bonds there is pledged with the Guaranty Trust Company of New York, Reynoldsville & Falls Creek RR. Co. firstmort~age6 percent bonds $170,000, and $170,000 stock being-the total capital and securities of that company. The Reynoldsville & Falls Creek RR. Co. owns about 28 miles of track, connecting the mines at Falls Creek with Buff. Roch. & Pitts. Ry., Penn. RR., Erie RR .• Western N. Y. & Penn. RR. (The) .Johnson Oo.-This company ranks among the leading compauies ln the United States in the production of Bessemer steel. Its works are located at Lorain, Ohio, and Johnstown, Pennsylvania. Its first mortgage secures $2,000,000 sinking fund 6 per cent gold bonds, dated 1894, due Sept. 1, 1914, interest M. &. S. A sinking fund provides for the redemption of $100,000 of the bonds annually on Sept. 1, at 105 and interest, if they cannot be purohased for less. Bonda in sinking fund October, 1896, $200,000. The cost of the property in May, 1896, was certified to have been $4,799,000,and the average annual net pr,,fits for the past six years to have been $476,611. Interest charge is $120,000.-See V. 62, p. 949. .Joseph Hanigan Rubber Oo.-V. 63, p. 1063. .Journeay & Burnham.-See V. 54, p. 192 and adv. iTladison Square Garden.-Owns in fee t'he block of land in New York City bounded b,v Madison and Fourth avenues and 26th and 27th streets, together with building thereon, contai.nin's' theatre, amphitheatre, etc. Stock $2,000,000, (par $100); a majority is depos• ited in trust for five years with J. Pierpont Morgan, Charles Lanier and three f,\SSociates. There is a second mortgage for $750,000. First mortgage coupons due May 1, 1897, were paid with interest Dec. 27, 1897, at Mercantile Trust, N. Y. Rem•ganization 0ommi!tee.-F. K. Sturgis and W. C. Gulliver; depositary, J. P. Morgan & Co., N. Y. PLAN, V. 65, p. 195, provides for fore closure under 2d mtge.; old 2d mtge. bonds assessed $!00 per bond and stock $2 50 per sha1e.-V. 65, p. 620. Bondhotaers 0ommittee.-Isidor Wormser, Charles T. Harbeck and John 8. Tilney; depositary, I. & S. Wormser, Mills Building, N. Y. DIRECTORS (May, 1897): F. K. Sturgis, J. Pierpont Morgan, D. 0. Mills, Charles Lanier, H. H. Holli.ster, W. F. Wharton, Sanford White, W. C. Gulliver, James T. Woodward, H. I. Nicholas and James C. Youug.-V. 64, p. 953; V. 65, p. 195,278,620; V. 66, p. 82. ll.Ianl1attan Beach Hotel & Land (Lirnited).-Owus the real estate and pretnises known as Manhattan Beach, with the Manhattan Beach and Oriental hotels, music amphitheatre, 446 acres of land, &c. Stock, $2,000,000, of which $500,000 is preferred 5 p. c. non•oumulative; preferrl3d outstanding, $400,000. Commencing with May, 1894, fo11r years' coupons were funded into 10-year scrip. A few of the coupons have not yet been funded. N. Y. office, 192 Broadway. -v. 62, p. 869. fflaxwell Land Grant.-See SUPPLEMENT April, 1897, p. 154. National Klee llillllng.-See full statement V. 55, p. 49. New Central Coal (ll.Id. ).-owns coal lands in Allegheny County, Maryland. The annual report for year ending Dec. 31, 1896, in V. 64, p. 515, showed 188,453 tons mined, against 201,726 in 1895, 151.002 in 1894, 223,503 tons in 1893 and 201,428 tons in 1892: ~t oroUts for year 1896, $23,018; in 1895, $25,013; in 1894, $17,337. Balance to credlt of profit and loss December 31, 1896, $181,· 903. Dividends since 1880-In 1881, 2 per cent; in 1882 and 1883, nil; in 1884, 1; in 1885, nil; from 1886 to 1888 incluRive, l p. c. yearly; in 1891, 1; in 1892, March, l p. c.: in 1893 . .I<'eb., 1 p. c.; in 1894, Jan., 1 p. o. N. Y. office, 1 Broadway. (V. 64, p. 515.) DIVIDENDS- 'I. '85 '86. '87. '88. '89. '90. '91. '92. '93. '94. None Since 1880 p. c. 5 0 1 1 1 0 0 1 1 1 1 since. New York ii.Ir Brake .-Incorporated under laws of New Jersey. Works are located at Watertown, N. Y., where plant has capacity for making 100 sets of oar brakes a day. Ca~ita.l i-took, $5,000,000 (par $100) is on unli;,ted department of N. Y. Stook Exchange. La-1t dividends were in 1 96, when 6 p. c. was paid. Bonded del.>t is $:&50,000. DIRECTORS.-Pre~ident, C. A.. Starbuck, 66 Broadway; Vice-Prest., Dani.el Ma~one; Secy. and Treas., Johu C. Thompson; Asst. Treas .• C. H. Chaffer, Cranrord Livingston, H . A. Rogers, Rowland Cox and I. B. Ne\.\'Coml.>e. Transfers at office, 66 Broa.dway, N. Y.; Registrar, Knickerbouker Trust Co. N. Y.-V. 65, p. 368, 463. New York ll.Iutual • elegraph.-Successor to the Mutual Union Telegraph Company. The stock carries dividends of 6 per cent per anuum under a lease for l:J9 year('! from February 15, 1883, to Western Union Telegraph. The Western Union gives its collateral trust bonds in exchange at par for the stock and bonds of this company. New York Susquehanna & Western Ooal.-Held in interest of New York Susquehanna & Western KR., under whose eollateral trust deed of 1~95 are pledged $525,000 second mortgai?e honds, $90,000 preferred stock and $359,"'00 common stock. The tlr,t ,uortgage is for $600,000 6s, M. & 8., due 19 l~; ot·iginal is,me was $600,000 but in Nov., 1896, ouly $:195,0u0 ti.rats were outstanding; seo,,nds out• standing were $525,000. New- York & Texas Laod.-This company took the lands granted to the International and Houston & Great Northern railroads, about 6,000,000 acres. June 30, 1896, had 2,078,296 acres unsold and there waM $802,080 of land scrip receivable at 75 p. c. of lands sold. Stock, $1,500,000; par $50. The mortgage of ., 500,000 and /.:;·'t:', -;.·, · ~r-e1 •.-·J ..:z:,.,,r,. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 139 . \ covers about 1,!i00,000 acres of land in Texas. Trustees, Mark T. Cox and William E. Bond. Ageut J. S. Wetmorl3, No. 2 Wall Street.-V. 65. p. 12~2. Ne- Yo,•k & Wilke•barre CoaJ.-Organized in interest of New York Susquehanna & West,..rn RR. and has issued $450,000 of tirst mortgage coupon 6s dated 1893, due Nov. 1, 1933, $500 each, interest payablfl M. & N. at 26 Cortlandt Street. Mortgage trustee, Continental Trust Co. 0 00 den ~as (Olll<'ago).-In September, 1896, 15 miles of mains hadbeen laid. Contract calls for construction of about 35 miles of mains. Capital stock, $5,000,000. In Dec .. 18~7 . an agreement was reported to have been made between this company and the People's G. L. & Coke as to division or territory.-(V . 65, p. 1116; V. 60, p. 432; V. 62, p. 1178; V. 63, p. 559; V. 65, p. 1116.) Ohio Falls Oar Manufacturing Oo.-Incorporated under the laws of Indiana in 1892 as successor to Ohio Falls Car Co., established In 1865. Located at Clarksville, neal' Jeffersonville, Ind. See adv. CHRONICLE of Oct. 22, 1892, and Maitland, Coppell & Co., 24 Exchang-e Place. June 30, 1897, bills payable, $102,624; bills reoeivable, $248,144. General balance sheet of June 30, 1897, was given in· V. 65, p 276. Dividends-On common in 1893, 12 p. c.; none since. On pre ferred 2 p. o. quarterly Jan., '93, to Jan., 1895. inclusive; in 1896 4 p. c.; in 1897, July, 4 p. c., Oct., 2 p. c.-(V. 65, p. 276.) Peoria Water.-Owns water works at Peoria, ill. C. B. Gold, 15 Wall Street, N. Y., receiver. BONDHOLIH£RS' CO~Il\UTTEE.-Chair• man, William D. Barbour; Secretary, Charles H. Newcombe, commit· tee controls lf:l,397,000 bonds out of a total of $1,429,0u0; deposi· tary, .Atlantic Trust Co., N. Y. Reorganization plan in V. 62, p. 779. Atlantic Trust Co. ctfs. for 1st mtge. bonds received 2 p . c. interest .Aug. 2, 1897. Purchased for bondholders at foreclo. ~ale Jan. 14, 1898, for $1,500,000. For year 1895 gross earnings from private sources were $76,155; cash warrant rentals from city, but not paid, $27,154; total, $103,310; operating expenses, including miscel. in• terest and exch., $51, ,22; taxes, $4,393.-V. 66, p. 135. Pratt & Whltney.-See CHRONICLE, V. 55, p. 967. Sliver Bullion Certificates. - The silver bullion certificates dealt in on the N. Y. Stock Exchange represent Ni.Oh 1,000 ounceR of O.ne silver bullion deposited with the Mercantile Safe Deposit Co. of New York, aud are each subject to a storage charge of two cents per da.y; bar silver storage is one cent per day. .Av. weight of bars is 1,080 oz. Southern Cotton 811.-A New Jersey corporation owning eight crushing mills in the South with an aggregate capacity of 1,825 tons of seed per day; also owns 5 refineries, etc. In May, 1895, the capital stock was reduced from $5,000,000 (par $100) authorized, of which $4.,000,000 issued, to $2,000,000 (par $50.) DIVIDENDS.- 1889. '90-91. '92. '93. '95. ..---'97.--...._ Per cent. 8 0 5 5 3 June. 4% June; 2% Dec. ANNUAL REPORT.-Fiscal year ends Aprll 30. Report for year 18~6· ~7 m V. 64, p. 1179, showed net protits for year or $63,025, against $30,820 in 1896 and $210,462 in 189:5. Dividend (4 p c.), $80,000, was declared payable June 15, 1897, leaving undivided protit'! of $420,964. Bills pav-able April 30, 1897, $368,091; bills reoei vahle, $167,907; cash, $170,058. Presidrnt, Henry C. Butcher. Office, Camden, N. J. (V. 60, p. 838,874, 1056; V. 64, p. 1179.) South Yuba Water Oo.-Own;1 18 stora~e lakes and reservoirs in Placer and Nevada counties, California., 12 distributing reservoirs an.d 500 miles of canal and pipe lines. Incorporated in California in 1854 and in New York in 1880. Supplies w,i,ter for household and municipal . purposes, power and irrigation, electric power and light. Area supplied about 2,000 square miles. Mortgage trustee, Farmer's Loan & Trust Co. Application to N. Y. Stock Exchange for listing bonds of 1893 in Vol. 59, p. 700. For year 1897, gross, $178,540. In 1896 gross, $160,016; net, $87,405; charges, $49,540. In 1895 gross, $154,230; net, $82,359; charges $33,450. OFFICERS.-Presldent, Warner Van Norden; Vice•President, William Dowd; Secretary, H. W. Lazelle. Office~, 45 Cedar St., N. Y.; Nevada City, Cal. and Auburn. Cal. (V. 59, p. 6J1, 697, 700.) Sterling Iron & Railw-ay.-The property of this company, in Orange County, N. Y. (and a few acres in Rockland,, consists or 25,000 acres of land, with furnaces, &c. The compauy endorses the $471,674 bonds of the Sterling Mountain Railway. Stock is $2,300,000-par, $50. New York office, 45 William St., New York. Stilw-ell•Bierce and Smlth•Valle Oo.-See V. 55, p. 884. Susquehanna Ooal.-Owns coal propert-y at Nanticoke, Luzerne Co., Pa. Pennsylvania RR. owns all the $2,136,800 stock and gua.ran· tee the bonds principal and interest. Dividends, 6 per cent. Texas & Pacific Ooal.-Owns 33,000 acres of coal lands in Texas. Buslness consh•ts of mining coal and manufacturing coke, etc. Capital stock $2,000,000, full paid. Quarterly dividends of l per cent \Q.-J.) are paid; Jan., '98, 1 p. c., last paid. Mortga~e is for $500,000 of 6 p. o. bonds, due 1908; bonds for $139,000 in sinking fund (in Jan., 1897), le 1.ving $361,000 outstanding; interest A. & O. at ( entral Trust Co., N. Y., the mortgage trustee. President, R. D, Hunter, Fort Worth, Tex.; Vioe•President, Edgar L Mars ten, 33 Wall Street, New York. { See s UPPLEMENT of Texas & Pacific Land Trust. 5 April, 1897, p. 154. 'J'renton Potteries. Virginia & Tennessee Coal & Iron.-SUPP. of Oct., 1897. Wagner Palace Oar Oo.-Ajoint-stock association, which owns and operates the Wagner cars in twenty States and in Canada on many important railroad systems. Stock, authorized, $20,00u,000. Yearsend.June30. <h·oI;s. Net. Dividends. Balance. 1897 -········ .. ······$3,436,281 $1,424,334 (1) (1) 1896 .. ..•.•.........• 3,660,333 1,567.891 (8 per ct.) (1) 1895 -··········-····· 3,368,942 1,560,187 $1,520,000 sur.$40,187 Dividends of 8 per cent yearly have been paid.-(V. 63, p. 503,) Wheellng Lake Erie & Plttsbur~ Ooal.-Organized Aug. 7, 1888, to work coal in Jefferson Co., Ohio. Stock ,Sl,000,000, of which $670,000 owned by Wheelin/? & Lake Erie Ky. Co., which went into receivers' hands Jan. 15, 1897. Reoeivers of Coal Co. (appointed Jan. 16, 1897,) are Myron T. Herrick and Robert Blickensdorfer. Defautt.-Coupons dn ·July, 1897, were not paid. Bondholders' Oommitiee.-Francis S. Bangs, rhomas A. McIntyre and Willard H. Jones-Ree Wheeling & Lake Erie RR. item, V. 64, p. 182. There is a sinking fund of 5 cents a ton for whicl:J. the bonds may be called for payment at 105 and interest. Year endin~ June 30, 1895, the total amount received for production was $50 'i,284, against $475,928 in 18:J3·94; net earnings $69,215, against $30,055; othee income, $26,696; surplus over charges for year, $9,976.-(V. 63, p. 553,) Whitebreast Foel Co.-SUPPLEMENT of Oct., 1897. (Henry R.) Worthington.-Organtzed tn 1893 under laws of New Jersey to take over and carry on the extensive busint3SS of man• ufacturing steam pumps and pumping engines, established in 1845 by Henry R. Worthington. :No mortgage can be placed on property except by a vote of holder.. of 75 per cent of preferred stock. Dividends on pref., 3½! p. c., 1893; in 1894, 7 p. c.; 1895, 7 p. o.; 1896, 7 p. o.; in 1897, May, 3½p. c. (V. 56, p. i34.) New York office. 86 Liberty i:;t. -' 160 INVESTORS' NEW YORK & BROOKLYN CITY BANKS. (* State banks.) CAPITAL. Surplus DIVIDENDS. COllPANIES. at latest Par Amount. dates.t Period. 1896. 1897. Latest. % - - - - -NewYork $ $ $ A.merlca* .. __ 100 ll1500000 2,59i,200 J. & J. 15 14 J an, '98. 7 Am.Exch. __ 100 5,000,UOO 2,480,~00 M. &N. 7 7 Nov .'97. 3 Astor ______ . 100 300,000 Org.Jau. ' 9 ···-·· Astor Place* 100 250,000 355,600 J. & J. ---6-· 6 J a u. '98. 3 16 Jau. '98.10 Bowery*---· 100 250,000 618,800 J. & J. 12 12 J a n. '98. 6 Broadway·- 25 1,000,000 1,634,200 J. & J. 12 Butch's'&Dr 25 300,000 169,300 J. & J. 7 J a n. '98. 3 8 Central _.• _. 100 '111000000 519,100 J. & J. 7 712 Jan. '98. 4 Chase....... 100 §1000000 1,496,900 J. & J. 10 10 Jan. '9d. 5 Chatham ... 25 450,000 988,000 Q.-J. 16 16 Jan. '98. 4 Chemical.. __ 100 300,000 7,454,700 Bi-m'ly. 150 150 Jan. '98.25 Citizens' ..•. 25 600,000 407,000 J. & J. 7 7 Jan. '98. 3 12 Oity ___ ...... 100 1,000,000 3,745,800 M.&N. 15 15 Nov.,'97, 5 29,400 J. & J. None None Jan. '93. 2 Clinton* .•.. 100 300,000 Colonial* ___ 100 100,000 48,600 5 Dec. '97. 5 Columbia*·- 100 300,000 185,800 J. & J. 8 Jan. '98. 4 Commerce_. 100 5,000,000 3,559,000 J. & J. 8 8 J a n. '98. 4 Continental. 100 1,000,000 204,100 J. & J. 6 J a n. '98. 3 6 Oorn Exch.* 100 1,000,000 1,314,000 F. &A. 12 12 Aug.'97. 6 East River._ 25 250,000 145,400 J. & J. 8 8 J an. '98. 4 11th Ward*_ 25 100,000 112,600 J. & J. 8 J a n. '98. 4 8 Fifth ...... _. 100 200,000 312,100 J. & J. 14¼ 12 J a n. '98. 6 Fifth Ave* .. 100 100,000 1,l l3,800 Q.-J. 100 100 J a n. '98.25 First-······· 100 500,000 7,012,900 Q.-J. 100 100 Jan. '9-l.25 12 Fourth ...... 100 3,200,000 ~.056,700 J. & J. 7 7 J a n . '98. 3 44,100 M.&N. 14th Street* 100 100,000 6 6 Nov .'97. 3 31,200 Franklin .... 100 200,000 ........... -----·····--· Gallatin .... 50 1,000,000 1,653,900 A.. & 0. 12 12 Oct . '97. 6 24,300 F. &A. G&llSevoort* 50 200,000 2 12 None Feb.'96. 2 12 Garfield ...•. 100 200,000 810,300 ··-6-- Feb~;gs:. ···6-Germ'nAm.* 75 750,000 285,700 F. & A. 10 May'97.10 16 Germ•n~~-* 100 200,000 570,700 May. 10 Nov. '97. 5 Germarua ·- 100 200,000 711,400 M.&N. 10 Greenwich*. 25 200,000 163,400 M.&N. 6 6 Nov .'97. 3 Hamilton*,_ 100 200,000 94,500 J. & J. 6 J a n. '98. 3 5¼ Hanover .... 100 1,000,000 2,196,uOO J. & J. 10 10 J a n. '98. 5 Hide&L'th'r 100 500,000 144,600 New 81,800 J. & J. ··-6·· None July'96. 3 Home*-····· 100 100,000 Hud. River* 100 200,000 186,800 F. &A. F eb. '98. 3 6 ti 100 1,500,000 5,715,100 J. & J. 20 20 Jan. '98.10 8 50 500,000 35\1,UOO J. & J. 8 Jan. '98. 4 Leather Mfr. 100 600,000 489,800 J. & J. 10 10 J a n. '98. 5 Liberty ____ , 100 500,000 290,800 Lincoln._ .•. 100 300,000 6-16,100 Q.-F. 1112 ·yr· Nov.;91...:f Manhattan.,. 50 2,050,000 2,100,800 F. & A. 8 8 Aug.'97. 4 Mkt& Fult. 100 t900,000 1,021,100 J. & J. 10 10 Jan. '98. 5 Mechanics' _ 25 2,000,000 2,087,600 J. & J. 8 8 Jan. '98. 4 Mech. &Tr* 25 400,000 228,500 J. & J. 9 6 Jan. '98. 3 Mercantile .. 100 1,000,000 1,030,000 J. & J. 6 6 J a n. '98. 3 Merchants'_ 50 2,000,000 1,060,900 J. & J. 7 7 Jan. '98. 3 Merch. Ex._ 50 600,000 180,900 J. & J. 6 6 Jan. '9S!. 3 Metropolis*. 100 300,000 816,800 J. &D. 12 12 D e c. '97. 6 82,000 J. & J. None None July,'94. 3 Mt. Morris*_ 100 250,000 94,700 Mutual*-·· - 100 200,000 Nassau* ____ 50 500,000 264,300 M~-&·N: Nov.,'97. 4 N.Amst'm*. 100 250,000 277,500 New York .. 100 2,000,000 1,900,600 .r:·&·i ·10·· 10 iaii: ·•gs.- -5·· N.Y.County 100 200,000 434,200 J. & J. 18 8 J a n. '98.10 63,400 F. & A. N. Y.N.Ex. 100 300,000 6 2 Feb. '97. 2 Ninth_ ...... 100 750,000 282,400 J. & J. 6 5 Jan. '98. 2 22,300 J. & J". Nine'th W'd* 100 100,000 6 3 Jan. '97. 3 N. America_ 70 700,000 554,400 J. & J. 6 6 J a n . '98. 3 Oriental* ___ 25 300,000 406,300 J. & J. 10 10 J a n. '98. 5 8 8 F eb. '98. 2 Paci.flo* -··· 50 422,700 465,100 Q.-F. Park ...... __ 100 2,000,000 3,265,700 J. & J. 10 10 Jan . '98. 5 People's* __ . 25 200,000 250,800 J. & J. 10 10 J an. '98. 5 6 6 J a n. '98. 3 Phenix·-··· 20 1,000,000 246,600 J. & J. Plaza* ...... 100 100,000 lOf>,700 ...6.. Oct.New Prod. Exch.* 100 1,000,000 314,600 A.. & 0. ---6-'97. 3 Republic ___ 100 1,500,000 858,200 J. & J. 8 8 J a n . '98. 4 94,300 Q.-J. Riverside*_. 100 100,000 6 6 Jan. ·~8. 1 Seaboard . _. 100 500,000 324,800 J. & J. 6 6 Jan . '98. 3 Second .. ••.. 100 300,000 689,900 J. & J. 11 12 J a n. '98. 6 Seventh ____ 100 300,000 90,500 J. & J. 3 None Jan. '96. 3 Shoe& L'thr 100 1,000,000 159,500 J. & J. None None July'94. 3 12 J a n. '98. 6 Sixth_·--··· 100 200,000 343,600 J. & J. 12 Btandard ___ 100 200,000 See V. 65, pp.107 2and 1116. State*_ .... _. 100 100,000 65,000 J a n. '98. 3 8tateofN.Y* 100 1,200,000 49~,700 M.&N. 6 -··6·· Nov .'97. 3 2 J a n. '9E'. 2 Tradesmens 40 750,000 120,800 J. & J. None Twe'f.Ward* 100 200,000 148,700 J. & J. 6 6 J a n. ·9~_ 3 42,800 F. &A. 23d Ward* .. 10(\ 100,000 5 5 F eb. '98. 2 New Union_ .•.... 100 1,200,000 786,600 Union Sq.* __ 100 200,000 269,900 U.Btates_ ... 100 500,000 Con olid aie·d-wi t1i-w e-i;u· National. Western .... 100 2,100,000 587,800 None None Jan. '94. 3 West Bide* .. 100 200,000 341,100 J. & J. 12 12 Jan. '98. 6 Yorkville• .. 100 100,000 114,500 New Brooklyn Bedford* ... 100 150,000 110,319 J. & J. 8 8 J a n. '98. 4 Broadway*. 100 100,000 115,699 J. & J. 6 8 J a n . '9i. 4 Brooklyn* __ 100 300,000 165,265 J. & J. 8 7 Jan . '9Q. 3 12 City __ -----· 50 300,000 574,4.30 J. & J. 20 20 J a n. '98. 7 8th Ward* __ 100 100,000 30,968 -------···-·51,194 J. & J 5th Avenue* 100 100,000 5 J a n. '98. · 2 12 4¼ First .. ___ .•. 100 300,00 I 957,500 J. & J. 16 16 J an. '98. 8 Fulton* __ .. _ 40 200,000 180,943 J. & J . 8 8 J a n.'9 .4 Germ'nAm• 100 100,000 12,547 . ........ E stab. 1895 ...... Hamilton* .. 100 100,000 35,651 J. & J. 5 Non e July'96. 2 12 Kings Co* .. 100 150,000 78,936 J. & J . 7 5 J a n. '98, 2 1il Long Isl'd* _ 100 400,000 ln liqui datio n. July '96. 3 Manufac'rs' 30 252,000 398:569 J. & J. 8 Jan. '98. 4 8 Mechanics'* 50 500,000 426,Q62 J. & J. 12 12 J a n. '98. 6 Meeh.&Tra* 100 100,000 18~,159 J. & J. 10 10 J a n. '98. 5 Nassau. ____ 100 300,000 581,625 J. & J. 12 12 Jan. '98. 6 North Side.* 100 100,000 108,101 J. & J. 6 J a n. '99. 3 6 Peoples'*. __ 50 100,000 105,971 1. - .... - - . F eb . '98. 3 Soherme'h. * 100 100,000 Op'dOct.'94 58,759 ...... ·-· No-rie Aug.'95. 3 17th Ward*. 100 100,000 Noiie Bpra'We . __ . 100 200,000 2~g•;~g,r_. 6 J a n. '9 8 . 3 6 51,196 J. & J. 26th ard." 100 100,000 6 J an. '98. 3 6 4 48,106 J. & J. 4 July '97. 2 Union*.·---· 100 100,000 Wallabout*. 100 100,000 J. & J. 31 , 486 5 J an . '98. 2 12 5 - - -- --- 1 ···s·· s. ~:~~~~: ··-s·· ---s-- SUPPLEMENT. [Vo1, LXVI. NEW YORK AND BROOKLYN TRUST COMPANIES. (Fol" d e tailed statements, see Chronicle of .Tan. 29, '98.)> Surplus & 0IVIDENDS paid in '96 a nd '97 ,. CAPITAL. and also last dividend. Undiv'ed - - - - - - , Profits Par Amount. Dec.31'97 Period. '96. '97. Last Paid. % $ - - - - -1 $ - - $ COMP.ANIES. Atlantic .. --·· 100 1,000,000 200,449 Q.-J. Brooklyn ..... 100 1,000,000 1,569,445 9.-J. Cent-ral -----·· 100 1,000,000 7,122,480 B1-mon Colonial .....• 100 1,000,000 517,408 ____ (i ) Co ,1solidated. ___ _ 100,000 Contmental.. 100 500,000 362,102 Q.-J. F?,rm. L. & Tr. 25 1,000,000 4,731,132 Q.-F. Fifth Avenue. 100 500,00u 500,000 See V. Franklin ..... 100 1,000,000 979,568 Q.-J. Guar.Tr.,N.Y n 100 2,000,000 2,820,402 J. & J. Hamilton ____ 100 500,000 fi67,327 Q.-F. Kings County. 100 500,000 778,568 <l,-F. Knickerbock'r 100 1,000,000 651,530 ,T. & J. LongI.L.&Tr.. 100 500,000 456,573 Q.-J. Manhattan _.. 30 ,1,000,000 575,60 l J. & J. Man'rs',Bklyn 100 500,000 620,566 Q.-J. Mercantile._._ 100 2,000,000 2,932,741 Q.-J. t Metropolitan_ 100 1,000,000 1,178,912 J. & J. Na sau. _·-- __ . 100 500,000 297,967 F. & A. N.Y.Lf.I.&Tr. 100 1,000,000 2,~64,533 J. & D. N. Y. Sec. &Tr. 100 1,000,000 1,593,081 M. &N. People's .. _____ 100 1,000,000 1,174,947 Q.-J.a ProduceExch. 100 500,000 500,000 See V. Real Estate... 100 500,000 374,601 J. & J. State.-···--··· 100 1,000,000 991,114 J. & J. TitleGu.&Tr.. 100 *2500000 2,253,496 Q.-J. Union--·· ____ 100 1,000,000 5,392,685 Q.-J. U.S.Mort.&Tr. 100 2,000,000 1,393,158 See Mi United States. 100 2,000,000 10209353 J. & J. Washin~n .. 100 500,000 563,062 J. & J. Ian., '98. 2 8 8 16 16 Jan., '98. 4 50 50 Jan., '98_15 ___ ,. ··--· seeV.63.p.qoS Est abli shed 1897. 6 Jan., '98. 112 6 30 30 Feb., '98. 5 65,p. 82 4; V.66,p.818 Jan., '98_ 2 8 9 15 Jan., '98. 6 8 Feb.,'98 - 2 8 8 Feb., '98 _ 2 8 6 Jan., '98. 3 6 8 Jan., '98. 2 8 5 Jan., ' 98. 219 5 2 10 Jan., '98_ 3 15 12 Jan., '98- 3 10 10 Jan., '98. 5 6 Feb., '98. 3 6 40 40 Dec.,'97.20 10 10 Nov., '97. :• 8 Jan., '98. 212. 8 65,p p.10 72 and 1116. 612 Jan., '98_ ::!12· 6 6 Jan., '98. a 6 8 Jan.,'98. 2 8 30 32 Jan., '98. 8 scel lane ous Cos. 40 40 J a n., '98 20 7 Jan., 'HS 4 6 * Increased from $2,000,000 in June, 1896. t Changed from J.&J. in Dec., 1895. ! Increase due to change or dividend period. II Title changed in Dec., 1895, from N. Y. Guar. & Indem. Co. toGuaranty Trust Co. of .New York. a Changed from Q.-F. in Dec., 1895. NEW YORK AND BROOKLYN FIRE INSURANCE COMP A.NIES. Net DIVIDENDS. __c_AP_IT_A_L_.__ I Surplus, Dec. 31, Par. Amount. 1897. * 1895. 1896. 1897. Last Paid. % 1 - - - -1- - - -1- - - - - - - - - - $ $ $ 4 July,'97. 4 American_ .. 50 400,000 5 None ·24:i65 10 10 10 Feb., '98. 212 25 200,000 Broadway._ Citizens' __ .. 20 300,000 127,403 7 Jan.,'98. 4 7 7 9 Jan.,'98. 3 Com'nw'lth _ 100 500,000 284,238 6 6 Continental . 100 1,000,000 3,117,995 15·40 17·70 20 Jan., '98.15 15 Oct., '97. 7½ 15 40 300,000 754,883 15 Eagle_-·-·-· 75,356 EmpireCity_ 100 200,000 6 6 6 Jan.,'98. 3 512, Farragut. _.. 6 Jan., '98. 3¼ 6 58,857 50 200,000 20 GermanAm_ 100 1,000,000 3,678,999 20 25 Jan., '98.15 Ger.Alliance 100 200,000 130,281 Germania.. __ 12 Jan. , '98. 6 10 50 1,000,000 1,833,700 10 6 Feb.,'98. 3 50 200,000 125,187 None None Globe_·-···· Greenwich __ 10 10 Jan., '98. 5 25 200,000 436,128 10 Hamilton _. _ 6 15 150,000 100,833 6 Jan., '98. 3 6 8 Jan.,'98. 5 7 50 1,000,000 584,870 7 Hanover .... 10 Home._ ..... 100 3,000,000 3,570,268 10 10 Jan.,'98. 5 12 Jan,,'9 . 6 12 20 150,000 184,001 12 Kings Co .••. Nassau ____ •. 10 J a n.,'98. 5 10 50 200,000 266,620 10 New York ___ 100 200,000 147,209 f$ Feb., '98. 3" 3 6 10 10 J an.,'98. 5 50 500,000 713,766. 10 Nia~ara ..•.. 290,274 350,000 25 6 6 . 7 Oct., '97. 312 No11 hRiver. 10 Jan., '98. 5 10 25 200,000 265,066 10 Pacific ... _-· 10 121,459 10 Feb.,'98. 5 10 20 150,000 Peter Cooper Phenix __ __ .. 10 J a n.,'98. 5 10 50 1,000,000 1,220,307 10 Rutgers' ___ . 69,946 9 Feb.,'98. 4 10 25 200,000 8 Stuyvesant _ 33,306 6 Jan.,'98. 3 6 25 200,000 6 8 Jan.,'98. 4 6 25 250,000 206,355 6 Unit'd States 10 Westchest'r _ 10 Feb.,'98. 5 10 300,000 999,827 10 20 Jan., '9S.10 20 50 250,000 937,129 20 W'msb. City COMPANIES. *Overall liabilities, including re-insurance, capital and scrip. GAS COMPANIEB.-SEE ALSO MISCELLANEOUS. I I Par. Seeurlties Period. Dividends a,.d Interest. 197 •1__:_Date. ¼ ..:_~~ See also "l'-lisce llan e:::::·pa 6 No v. 20, '97, 3 Columbus, 0., Gas .. _ 1001 1,072,8001!\:1. & N. 6 1st M. g.,V.64, 122! 1,000 1,175,000 J. & J. 5g. 5g. July l, 1932 Con. Gas (N.J.) Stk.. 100 1,000,000 ·-··-··-· __ ______ -------·····-·· Jan. l, 1936 5 850,ooo J. & J. 5 1st con., gold ... _c* 1,000 8 Jan. 3,'98, 4 750,000 1J. & J. 8 25 Hartford City G. Lt_ (7) (1) 50 2,000,000 Q.-M. !.2 Indianapolis Gas.___ 19~0 6 1st mortgage ______ 1,000 2,750,000 M. & N. 6 5 800,000 Irreg. 50 Minneap. G. L., Stk. 6 Mar. 1, 1902' 600,000 . _____ . __ 6 1st mort. 6s. _______ 1,000 1910-1930 6 1st con. gold 6s .. _. 1,000 2,232,000 M. & S. 6 Feb.1,'98. 2 8 8 Mun'l Gas (Alb, N.Y) 100 2,000,000 Q.-F. 6 July 1, 1906, 500,000 J. & J. 6 1st mortgage, g ... _ 1,000 180,000 ·· -- --- t2 f 2 Mar., '97. 2 NewMem.(Tenn)G.L 100 Apr. 1, 1903 7 240,000 A. & O. 7 Memphis G. L. bds. 1,000 1925 180,000 M. & N. 5g. 5g. New con. M., 1895. 1.000 7~ Jan.15'9 ,3 :N'ew Orleans G. L_ .. 100 3,750,000 J. & J. 8 Variou,,. 5 51,000 J. & J. 5 1st mortgage. __ ..• 1,000 9 Jan. 10, 'U8,4 N. Y. Mut'l G.L.·-Bt'k 100 3,500,000 J. & J. 9 Rochest'r Gas &El.(l ) (7) n'ne .•...... . 2,150,000 Common .... - --· · · · ·-···· Preferred.-·---···· 100 2,150,000 F. & A. 1 6 6 Aug. 2, '97, 3 5 Nov. 1, 1912 1st cons. mort_ .. _. 1,000 2,000,000 M. & N. 5 1 Feb. 20, ''J"/, 1 6 St. P.(Minn.)G.L.Stk. 100 1,500,000 Q.-F. 1st currency_ .. _... 1,000 6 July 1, 1915 650,000 J. & J. 6 1 st comsol.. __ .. . _.. 1,000 6 July 1, 1918 600,000 J. & J. 6 t December 15, 1897, for National and Dec . 16, 1897, for State hanks 5 Mar. 1, 19!4 Uen. mort. gold .. . . 1,000 2,57:-l,OOO M. & S. 5 nd includes undivide d profits. Syr'c'se(N.Y.)G.Stk. 100 1,750.000 . ........ --·· ·5 · iaii:- i.--i9¥6 1st mort. g .. _.. _. c~ 1,000 1,500,000 J. & J. 5 t IncreasPd from $750,000 in Novemb er, 1896. 20 2,600,000 Q.-F. 10 10 Feb . l.'98, 212 Wash'n (D. C.) G. L.. 1f Reduced from $2,000,000 on J an u ar y 8, 1897. 6 J'ne30,'02-27 Reg., 6, Series A., g Var's 1 300,000 J. & J. 6 HCapital stock reduced from $3,000.000 in October, 18 95. and 2 6 De<'.31,'04-29 Var' g B, Series 6, ., 300.000 J. & J. 6 Reg per cent extra rtividend pa.id in .J an uary, 1_896, on acc ou nt t llereof. ,see v. 61, p. 660. ) * This column show l a<1t dividend on stocks, and maturity o n bond•· § In ereas nl from . :'i00,000 in D eember, 189 7. t Paid out of Reor O'aniza tion Fund. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- t 1: COMPANIES. ~ m m LOCAL DIV,IDEND-P A YING STOCKS AND BONDS SPECIALTY.===========--- - -~=========A v\TILSON & STEPHENS, BANKERS, 41 WALL STREET, NEW YORK. RAILROAD k AND MUNICIPAL BONDS. (!fommerrial anb 1finan I ~,,vnntr e. i,~r .- ,.ir t. . JNVESTORS SUPPLEMJ:;r,JT' {QUARTERL)j QUOTATION SUPPLEMENT (MONTHLY) . Ftaf (QUARTERL") STREET RAILWAY SUPPLEMENT STATE. AND CITY SUPPLEMENT (SEMI-ANNUALLY) WILUAH B.DANA COMPANY. Publishers. PINE STREET CORNER PEARL STREET. NEWYORK. THE CHRONICLE is a weekly newspaper of 48 to 64 pages, published for the earliest mail every Saturday morning, with latest news by telegraph and cable from its own correspondents relating to the vanous matters within its scope. A unique feature of the CHRONICLE is its FOUR SUPPLEMENTS. 1. , .T he INVESTORS' SUPPLEMENT, 16Q pages, issued quarterly on the last Saturday of January, April, July and October, containing the latest available information respecting the property, stocks, bonds, earnings, dividends, interest payments, &c., of every Steam Railroad of importance and of the leading Industrial Corporations, &c., in the United States. 2. The STATE AND CITY SUPPLEMENT, of 190 pages, issued semi-annually m April and October, containing among other things about 3,000 detailed reports of the indebtedness and general financial condition of States, Counties and Cities; also digests of laws relating to investments by Savings Banks, &c. 3. T~e STREET RAlLWAY SUPPLEMENT, of about 100 pages, issued quarterly on the last Saturday of February, May, August and November, containing a complete description of Street Railways in the different cities of the country, their stock, dividends, bonded indebtedness, earnings, &c., &c. 4. The QUOTATION SUPPLEMENT, a monthly publication of 48 pages issued the first week in each month, giving the most complete and comprehensive tables of Quotations ever issued, embracing prices of Railroad Bonds and Stocks, Bank Stocks, Municipal Securities, Street Railway Stocks and Bonds and Miscellaneous Securities. A FURTHER NOVEL FEATURE is that the publishers of the CHRONICLE make no charge them all to the CHRONICLE for any of these Supplements, but give subscribers. Investors wishing to keep informed with reference to their investments, Buyers and Sellers of Bonds and Stocks of Steam Railroads, Buyers and Sellers of Bonds and Stocks of Street Railways, Buyers and Selle'l's of Bonds of States, Cities, Towns, Etc, EACH and all need the CHRONICLE and its four SUPPLEMENTS. :.l1ERMS: J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis For the United States, Canada and Mexico, including Four Supplements, l For all other foreign countries, including postage and Four Supplements, $10. 12. JOHN MUNROE & CO., FOREIGN BANKERS, No. 32 Nassau Street, New York, (MUTUAL LIFE BUILDING), No. 4 Post Office Square, Boston. FURNISH EXOH.&NGE FOR OOMMEROL4L AND TRA V.ELING PURPOSES ON PARIS, LONDON, BERLIN, ZURJOH AND BT. GALL. CABLE TRANSFERS ON PARIS. TRA VEL1NG CRhDITS IN POUNDS STERLING AND IN FRANCS. HOUSE IN PARIS :....:..=:....=-=--=~..:..........:..c....;..;._:_:..=.c: MUNROE & co •, BYWHOMACCOUNTSWITHAMERICANBA.NKSAND BANK.ERB ARE OPENED ON FAVORABLE TERMS. fflnittd jtatess ~ortgagt and ~ompan~, 59 CEDAR STREET, NEW YORK CITY. Capital, $t:,ooo,ooo I Surplus, 81,250.,000 Transacts a General Trust Business. Acts as ·Trustee, Registrar, and Transfer Agent; Executor, Guardian, .Administrator, &c. Takes entire charge of Real and Personal Estates. Acts as Fiscal Agent for States, Municipalities and Corporations. Legal Depositary for Oourt and Trust Funds. Interest allowed on Deposits. Checks pass through the New .York Clearing-House. Money loaned on bond· and mortgage. Issues First Mortgage Trust Gold Bonds. OFFICERS. GEORGE W. YOUNG, President. LUrHER KOUNTZE, Vice-President. JAMES TIMPSON, 2d Vice-President. ARTHUR TURNBULL, Treasurer. WILLIAM P. ELLIOTT, Secretary. CLARK WILLIAMS, Assistant Treasurer RICHARD M. HURD, Assistant Secretary. DIRECTORS. G. SAMUEL D. BABCOCK, GEORGE DUMONT CLARKE, CHARLES R. HENDERSON' CHARLES D. DICKEY, P. DIXON, Dows, JR., JAMES HAVEN. JR., J. HILL, E. KISSEL, RICHARD A. McCuRDY, THEODORE MORFORD, ROBERT OLYPHANT, M. WILLIAM GUSTAV CHARLES DAVID LUTHER KOUNTZE, JAMES TIMPSON, ROBERT https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A. GRANNISS, CHARLTON T. LEWIS, GEORGE PRATT., W. Yomrn. 1111m~8~~11 11 ~1ij~~437 ~1~1i1i1100008 , r1 11~3~~5107 I J . P. MORGAN & C 0.) . 1 Domestz·c and Foreign Bankers, \ WAl;L ST., COR. OF BROAD ST.~ NEW YORK. \ \ \ I, \ \ DREXEL & CO., MORGAN. HARJES & co.1 31 Boulevard Haussma nn, HG 4905 .F6 1898 PARIS. Financial review )LD ON The Financial review ON DEPOSITS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis COMM ISSION. CREDITS. MERCIAL iR TRAVELERS, the World. AGENTS OF ,RGAN REET, & Co. LONDON.
@FedFRASER