Full text of Commercial and Financial Chronicle : January 29, 1910 : Railway and Industrial Section, Vol. 90, No. 2327 [Copy 2]

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RAILWAY AND INDUSTRIAL
SECTION
OF THF.

C ommercial & F inancial (^ hrowIcI l
Copyrighted In 1910 according to Act of Congress, by WILLIAM B. DANA COMPANY, in office of Librarian of Congress, Washington, D. C.

Vol. 90.

N E W Y O R K , J A N U A R Y 29, 1910

No. 2327.

to name the chief in a list of eighty-five roads compiled
by the Railroad Gazette.” An analysis of these
returns,
which presumably give a fair idea of present
d J ho f IT«n,^aX a AV.l!,dVS,‘ riaI Section, Issued quarterly on the last Saturto pvprv Annual mil ’ .uU y *lncf, °2,tol)Cr> ,s furnished without extra charge
piactice,
shows that out of 151 orders placed, 80 were
1 ThP c X ,
r bS-Cr bC« 01 ,thC ^ommerc!al and Financial Chronicle.
p ™e
Way,Earnings Section, issued monthly, containing the sworn
for
Bessemer-process
rails 59 for open-hearth, and
Commerce r w f ,an< f xp®nses, flIcd each month with the Inter-State
12
foi
titanium
rails;
but
as the question of economy
^ « " K “ r » S r .S « ib S .
ehanK “ > cvcry
T.J*10
Railway Section, Issued three times a year, In February
and cost would, with the smaller roads, carry most
£ „ i X d .S .c. S S ; . ' “ llk” " k0 ‘ " ’ - M
t» “ S
weight, these figures do not represent the relative
o (T\hvSt,m?i
CHy Sec.tlon; Issued semi-annually on the last Saturday
output
of the Bessemer and open-hearth material.
1 m
.ho™” r S c k
°
“ '™ * » w w every
In 1908 the open-hearth steel output exceeded the
Sss
cJSSS&." 0150 ,umls"cd
^0,1Vc" tl0n Section, Issued yearly, giving the detailed pro­ Bessemer product by 27 per cent and, judging by the
ceedings of the annual convention of the American hankers' Association
number of open-hearth furnaces started last year
18 Term Sef fUrj ' Sh^ wil!l0, ul extra char° e t0 Chronicle subscribers.
L° nthc Chronic,e. Including the six Supplements above named,
and
by the fact that new open-hearth steel capacity
,T®P Dol ars per annum within the United States, Thirteen Dollars
(which Includes postage) In Europe, and $11.50 In Canada.
under
way amounts to 2,850,000 tons a year, of which
die covers for the Chronicle are sold at 50 cents each; postagoon thesame
s «PP»«aents can be had at same price
about half will be available in the first six months
, ? , U ^ E~ P" ny Cart*ctt, 513 Monadnock Illock.
LONDON OFFICE— Edwards & Smith, 1 Drapers' Gardens, E.C. of 1910, the ascendancy of the open-hearth steel rail
seems assured. At Pittsburgh and Chicago the
WILLIAM B. DANA COMPANY. Publishers,
Front. Pine and Depeyster Streets,
development of the basic open-hearth steel production
Post Office Box, 958.
New York.
has been phenomenal, but with all the multiplication of
furnaces there are not yet enough furnaces to meet
IMPROVEMENT IN RAILS.
the demand for open-hearth rails. A larger plant is
During the last year not so much was heard of the requiicd and the process is slower than the Bessemer.
steel lail controversy, which had previously led to
To meet this objection some of the mills have intro­
some sharp recrimination between railroad engineers duced the duplex process, a combination of Bessemer
and rail manufacturers. It may be inferred that and open-hearth furnaces to save time and turn out a
under the dictates of common sense, quickened by larger volume of steel. Bethlehem, Gary and Alabama
the lesson of the commercial crisis, a better spirit of are busy with this development, and the Maryland
conciliation and co-operation prevailed. Valuable plant at Sparrow’s Point will have its new furnaces
work done by the American Railway Association in ready in April, where Cuban ores will be largely used.
collecting and formulating scientific data and the The duplex system, however, at this early stage of its
acceptance by the steel-makers of specifications career is not being put to the production of rails,
proposed by the chief railway companies have resulted rheic is no absolute agreement among engineers as to
n much more satisfactory conditions for the re­ the lclative merits of the two rails; some roads have
equipment of railroads with rails corresponding to their own preferences and are guided by special
the heavier weight of locomotives and cars and the conditions, but there is little dispute that the opengreatly increased volume of traffic. In the last hearth steel, with the phosphorus less than half that in
quarter of a century the wheel-load of cars is estimated Bessemer, will largely reduce rail breakages due to
to have been advanced seventy-five per cent, that of brittleness. Some more definite knowledge is still
locomotives over a hundred per cent, and traffic necessary with relation to discard, segregation and
on important roads three hundred per cent or more.
other factors which affect the structure of the rail by
The delivery of 135,000 tons of steel rails to the producing flaws, piping, and similar imperfections,
Pennsylvania Railroad under its special revised which may be the cause of accidents to rolling stock
specifications was a prime feature of 1909 in rail­ and lead to loss of life and property.
making. The orders placed last year included 208,000
On the main lines where heavy traffic is the rule
tons by the Atchison, 59,000 by the Baltimore & the process of substituting a heavier rail for the older
Ohio, 65,000 by the Chicago Milwaukee & St. Paul, and light rail is going on all the time. It does not
67,000 by the Grand Trunk Pacific, 35,000 by the necessarily follow that the older rails are worn out or
Illinois Central and 66,000 by the New York Central, have outlived theii usefulness. In some sections.

R ailway

and




I ndustrial

Section.

4

RAILWAY AND INDUSTRIAL SECTION

[VOL, LXXXX.

Scarcely any recent development of railway enter­
for instance, on trunk-lines, 65-lb. rails which were
converted into 80-lb. rails by the addition of more prise gives more promise of material fruit than the
metal and thereby made stiffer by as much as 66 per mission trains equipped and placed at the service of
cent, on testing show little sign of weakening after the State Agricultural and kindred departments
twenty-five years of wear and tear. But the ex­ or of universities undertaking the diffusion of scientific
pediency of putting down new rails of a heavier and technical knowledge of farming. This is a
calibre to meet the new weight of traffic is apparent, system capable of indefinite extension. Its first
and the great roads, it may be generally said, are now fruits will be not only the cultivation of waste places
using on the average 100-lb. rails in place of the hitherto unutilized, but the conservation of natural
resources and the revival of industry on lands that
80-lb. and 85-lb. rails used a few years ago.
An interesting development in railroading is the have been abandoned after the exhaustion of the
increasing use of titanium as the result of tests and top soil, and need but intensified fertilization to
experiments carried out by chemical engineering produce profitable crops anew. To check and impede
specialists employed by railroad companies. Titanif- the efforts of railroad managers undertaking far­
erous ores from the Adirondacks are being increasingly sighted plans of this nature would be egregious folly,
consumed in blast furnaces, and in the basic open- if not disastrous. The railroads as common carriers
hearth process the ore has been used successfully for are bound by their first duty of making communi­
Maintenance of the permanent
thinning the slag, thus replacing fluor spar and helping cation easy and safe.
way
with
the
use
of
materials
of a high standard to
in desulphurization. Since titanium has a strong
ensure
efficiency
of
service
is
the
foundation of the
affinity for oxygen the use of the alloy affords a
future
prosperity
of
the
railroads.
Whatever skill,
means of making perfectly deoxydized steel. It
experience
and
inventive
genius
the
railroad
managers
also greatly lessens the amount of segregation of
can
gather
from
the
ranks
of
the
great
army
of their
phosphorus and sulphur. A tougher rail is the
employees
and
utilize
for
this
purpose,
under
suitable
result, specially suitable for curves, as it is found to
resist abrasion better than the ordinary rail. Com­ encouragement, must sooner or later enhance the
parative tests of the ordinary Bessemer rails and rails physical value of the property of the companies, and
treated with the titanium alloy have, after four its earning capacity. In any discussion bearing upon
months’ wear and tear, shown in rails of 100-lbs. to the possible re-arrangement of the relations of the
the yard a loss of 4.17-lbs. per yard in the case of the community and the railroads this is a vital fact that
Bessemer rails as against l.45-lbs. in the ferro-titan- cannot be ignored where there is any sense of fair­
ium rails. Tests by the New York Central labora­ ness.
tory’s expert have proved that the titanium rail will
CONCRETE’S EXTENDING S W A Y .
endure for fifteen months where under the same
Brazilian
railways, it is stated in a consular report,
conditions the ordinary rail will wear out in four.
find
the
cost
of ties a very heavy charge in their
Its homogeneity is a valuable asset of the titanium
maintenance
account.
The climate and the prevalence
rail, which has given an undoubted raising of the elastic
of
boring
insects
are
responsible
for this through the
limit and a marked increase in the ultimate stress
rapid
deterioration
they
cause
of
wooden ties. The
as against the normal Bessemer rail. It is for such
companies
controlling
the
railroads,
finding the supply
reasons that a railroad like the Central of New Jersey
in ordering 12,000 tons of new rails adds 2,000 tons of suitable lumber diminishing, have followed the
of 100-lb. rails of titanium material to its 10,000 tons example of some of our chief railroads, and are planting
of 100-lb. rails of the open-hearth process. The large tracts of land with trees like the eucalyptus, found
Lackawanna, which has achieved an honorable record suitable for providing ties able to resist the excessive
by passing an entire decade to date without a single moisture of the atmosphere and the ravages of ants
passenger being killed in a train accident, confines its and other pests for a considerable time when treated
order of 24,000 tons of rails of 91-lb. weight wholly with some protective coating. Under prudent sys­
tematic reforestization it would thus appear that
to the open-hearth product.
The Railroad Commission of New Jersey is able railroad engineers do not consider that the wooden
to state that there was no accident in the twelve­ tie should be discarded altogether in favor of one or
month due to faulty rails, just as there was none by other of the substitutes that have already taken its
collision. The Commission’s report bears valuable place in various parts of the world.
In Indo-China concrete ties have been used for
testimony to the care exercised by the railroads
passing through the State for the safety of their about ten years, as the wooden ties they superseded
passengers. Such commendation is a timely com­ succumbed in a few months to the ravages of a destruc­
pensation for the undiscriminating attacks to which tive ant. In Italy, the traditional home of mason
railroads generally have been subjected during the work with concrete, experiments carried on for six
past few years. It is a recognition, in fact, that the or seven years for the Government railroads have led
experimental work undertaken by the chief railroads to the introduction of reinforced concrete ties on
through their technical departments in the case of a large scale. What has chiefly deterred our railroads
rails, and other details of railroad operation too numer­ from turning freely to concrete ties as an alternative
ous merely to mention, has been of great benefit to from wooden ties, which are becoming poorer in
the community. Self-interest on the part of the quality but dearer in price, is the doubt whether the
companies themselves is in this respect coincident concrete tie comes up to the standard required under
with an enlightened policy which it should be the to-day’s conditions of heavy traffic, with its increasing
aim of Federal and State authorities to foster in their speed. When rolling stock is of moderate weight, as
exercise of controlling powers entrusted to them generally in Europe, the concrete tie can be used
without much question. Its durability will make it
by the legislatures.



JAN., 1910.]

RAILWAY AND INDUSTRIAL SECTION.

cheaper in the end. Its cost is already being lowered.
On some lines in this country where the rolling stock
is lighter than the average, it might even be used with
advantage, but the shock and pressure of high-speed
trains militate against its universal adoption. For
tracks where the speed is low, and especially in yards
and sidings, engineers are bringing reinforced ties into
increasing use, and rapid development in this direction
may be expected from its economical advantages.
It needs but little observation in passing along any
of the main lines which have devoted large sums of
new capital in recent years to structural improvement
to notice the manifold application of concrete. Abut­
ments and retaining walls that a few years ago would
have been made of granite or brick are now built of
concrete. No known building material affords a wider
range of various use. In bridges it is challenging the
supremacy of steel.' A wooden bridge’s life is put at
about nine years and a steel bridge, well cared for,
may be given forty years before it is counted effete and
in need of renewal. But a reinforced concrete bridge
has not yet been limited to any such span of life. If
ancient examples of simple concrete in the South of
Europe can be taken as a test, the structures of to-day
may last for centuries. If care be taken in the first
instance and adequate time given for the settlement
of foundations and for the play of temperature strains
by proper expansion joints, the maintenance cost of
the concrete structure should be infinitesimal compared
with the repairs and painting needed in the case of a
wooden or steel bridge. But spreading up from foun­
dation work to which it was only a few years ago almost
exclusively confined, concrete may be soon utilized in
station facades and offices, in train-sheds and signaltower houses, in coal trestles and water tanks, grain
elevators and locomotive round-houses as the first
choice of the builder, if possible.
For the more solid and comparatively simple class
of structural railway work, the use of concrete is
well past the experimental stage. It is in the finer
uses to which it is being put by the engineer as a
rival to steel that caution is still imperative. Though
mixing machines have been brought to a high pitch
of accuracy, the difficulty of gauging the quality and
strength of concrete on the minute scale to which it is
possible to test steel leaves a margin of uncertainty
and risk likely for a long time to come to baffle those
engaged in developing its capabilities on the railroad.
GRADE CROSSING ELIM INATION.
In recent reports, both of railroad commissions of
various States and of individual railroad companies,
the subject of the elimination of grade crossings
figures prominently. At the last Census the rapid
growth of city and suburban population taken in
connection with the number of accidents at grade
crossings in cities and their neighborhood made action
urgent on the part of State, municipal and railroad
authorities. It is gratifying to find that the decade
has shown much accomplished towards an end de­
sirable from every point of view and favored by
general agreement.
On their own initiative the Eastern trunk lines
have done well, though much remains to be effected.
Old grade crossings must be removed, wherever public
safety demands. Requirements of speedier traffic
may make elimination desirable at points where




5

danger to life is not so great or ample protection
exists. Vigilance must be exercised to prevent
grade crossings in laying down new lines by preparing
for the probable creation of populous districts near
the railway tracks. Much of the expense now incurred
by the railroads might have been saved by such
prevision even allowing for the conditions under
which grade crossings grew up in this country, not
from blindness, but because railroad construction
was necessarily hurried in linking up places separated
by great distances. In those days trains were slow
and the population was sparse. When Massachusetts,
however, forty years ago had surpassed Great Britain
in the ratio of its railway trackage to area, a State
Railroad Commission took up the grade-crossing
question as one of its first responsibilities. In the
same way the New York State Board of Railroad
Commissioners created in 1882 immediately made
grade crossings an important part of their investi­
gation and supervision. The Massachusetts Grade­
Crossing Law of 1890 and that of New York State
are two of the guiding enactments on the subject
and their principles have been adopted by many
other States. The divergence, however, of regula­
tions, the different methods adopted of apportioning
the cost of elimination and other variations due to the
multiplication of statutes and expenses, have in some
degree, it may be feared, checked the tendency
towards voluntary elimination by railroads operating
in more than one State. This is one of the subjects on
which a uniform law is desirable and as such comes
well within the scope of conferences of governors
and conventions working for the simplification of
State legislation.
The Pennsylvania Railroad’s record in elimination
of grade crossings during the past decade is in con­
sonance with its premier position in the railway
world. On all lines east of Pittsburgh and Erie the
system has abolished 673 grade crossings. Between
New York and Washington and Philadelphia and
Pittsburgh 256 public grade crossings are a thing of
the past. Those remaining, some 774, are scattered
over 574 miles of road, and generally at unfrequented
highways where traffic is inconsiderable. Between
Jersey City and Philadelphia 78 grade crossings have
been removed and out of the 218 which existed ten
years ago between Philadelphia and Altoona only
73 remained last September. What the elimination
of grade crossings really means to such busy industrial
cities as Jersey City, Newark, Trenton, Philadelphia,
Elizabeth, New Brunswick, Chester, Wilmington,
Baltimore and Washington can only be faintly real­
ized. It is like freeing a prisoner from his shackles
or removing the hobbles from a horse’s legs.
On other roads in New Jersey and Maryland similar
good progress has * been made. Perhaps the most
striking specific instance of the elimination of old-time
grade crossings concentrated at one point is that
accomplished by the Lackawanna and Erie railroads
outside the Bergen Hill tunnel on the outskirts of
Jersey City. No fewer than thirty-six crossings
where the tracks of the Delaware Lackawanna &
Western, the Susquehanna and the Erie companies
traversed each other at grade have during the past
year been removed by raising the one company’s
lines and depressing the other’s. It was an engineering
feat costing about three-quarters of a million dollars.

6

RAILWAY AND INDUSTRIAL SECTION.

The fact that this dangerous spot has for ten years
been kept free from fatal accidents from collision,
thanks to the vigilance of the railway employees
and the efficiency of the railroad operation, has not
lessened the risk incurred. The delays caused to
traffic in safeguarding the grade crossing were in
themselves fresh dangers.
According to a report of the New York Railroad
Commission the average number of people killed at
grade crossings for the ten years ending 1906 was
101.2 per year and of people injured 137. At that
time there were 6,793 unprotected grade crossings,
and 1,940 protected. The crossings either over or
under grade numbered 1,644. Thus there were 77.8
per cent of the grade crossings unprotected, and the
number of people killed at such crossings, 70.46,
approximated to that figure, those killed at protected
crossings making 29.54 per cent. The total number
of grade crossings eliminated since the grade-crossing
law became operative is only 233 and on the completion
of work now authorized the number of grade crossings
abolished will be no more than 256. In the last year
covered by the report only seven crossings were
eliminated.
Since the first appropriation by the State Legislature
in 1898 to pay for the State’s portion of the cost of
eliminating grade crossings, the total appropriations
have amounted to 81,617,606. As the State of New
York pays one-fourth of the cost of elimination, the
municipality in which the i rossing is situate onefourth and the railroad corporation affected onehalf, the amount paid on grade-crossing elimination
in the twelve years and six months since the first
State appropriation has been 86,470,427. When
the report was issued there were pending before the
Commission sixty-five applications under the law for
the separation of grades at crossings. The Public
Service Commission, however, which succeeded to
the duties of the Railroad Commissioners in 1907,
has its hands tied, as the Legislature of 1909 on the
last day of the session failed to pass the appropriation
proposed. This neglect of a public need was really
inexcusable on the part of the Legislature. The
Commission in its report justly complained that the
lack of appropriation not only seriously interfered
with the State’s policy 'to insure public safety at
crossings, but has also undoubtedly acted to prevent
both railroads and municipalities from presenting
further petitions for grade-crossing elimination.
From this want of funds the Commission was unable
to make orders for grade separations at five important
points within the electric zone of the New York Central
Railroad, though it considered that the conditions
due to rapid suburban development and lai;ge growth
of traffic on the streets and highways, together with
high speed and great number of trains on the railroads,




[V o l. l x x x x .

rendered travel over grade crossings within that zone
especially perilous. In the case of the other sixty
applications for elimination of grade crossings, widely
distributed both geographically and among different
railroads, although frequently urged to action by
petitioners in order that the desired relief might be
retained, the Commission was similarly nonplussed.
That the Legislature was seriously to blame in this
respect and should be prompt in the present session
to remedy the negligence by enabling the Commission
to carry out the duties laid upon it is indisputable.
Hasty railroad legislation has many sins to answer
for. Obsolete provisions require much emendation in
order to harmonize them with the present conditions.
The imperfections of the grade-crossing sections of
the Railroad Law of New York State have special men­
tion in the report just issued by the Public Service
Commissioners responsible for the metropolitan area
of New York. The existing law, they point out,
provides a method of altering single-grade crossings
only,]whereas track elevation or depression for con­
siderable distance is the remedy that should be
applied. Though the law provides that the State
shall pay one-quarter of the expense, for years no
appropriation has been available and the City of New
York cannot pay the State’s quarter without special
legislation. The result is that grade-crossing elimina­
tion is practically at a standstill in this instance,
excepting where it is done under a special grade­
crossing enactment or voluntarily by the railroad
at its own expense. Fortunately large plans of
grade alteration have been and are being carried out
by the main railways concerned, but it is a just
complaint on the part of railway companies that the
legislatures are more intent upon passing ill-con­
sidered restrictive enactments than in co-operating
with them for the promotion of remedial measures
to meet the new situation.
In New Jersey the same condition of things exists.
There is considerable agitation over the question of
grade-crossing elimination, but the Board of Railroad
Commissioners is powerless to follow up its recom­
mendations even where crossings have been shown
to be unusually dangerous. In some cases, like that
of Camden, a large number of grade crossings have been
avoided by the elevation of railroad tracks, but it is
only fair that the State and municipal authorities
should contribute their proportionate share to the
cost under similar circumstances. At Wilkes-Barre
in Pennsylvania four steam railroads and three
third-rail systems are negotiating with the City
Council for the elimination of grade crossings on a
plan involving an expenditure of 87,000,000. The
city agrees to pay 15 per cent and asks the railroads
to pay the remainder. There is little wonder that the
railroads deem this offer inadequate.

JAN., 1910. J

7

RAILWAY AND INDUSTRIAL SECTION.

R A IL R O A D A N D IN D U S T R IA L D IV ID E N D S FOR S E V E N YEARS.
The following table shows the dividends paid for seven years past on all railroad stocks (of steam
railroads) sold at the Stock Exchanges in New York, Boston, Philadelphia and Baltimore. Stocks which have
been merged or consolidated, and have no longer a separate existence, are not included. Dividends actually
paid form the basis of a year’s total. Those declared in one year and paid in another appear in the latter
year. We also show the dividends on some of the leading industrial stocks.
DIVIDENDS ON RAILROAD STOCKS.
Name of Company.
NEW YORK.
Alabama Great Southern ordinary. . .
Preferred................................
Alabama & Vicksburg............ ..
Albany & Susquehanna_____
Atch Top & Santa Fe common
Do
do
preferred-.
Atlanta & Charlotte Air Line (leased)
Atlantic Coast Line Company............
Atlantic Coast Line RR common----Do
do
preferred_______
Baltimore Ches & Atlantic pref___
Baltimore & Ohio common..............
Do
do
preferred............
Bangor & Aroostook..........................
Boston & Albany (leased)................
Boston & Lowell (leased)..................
Boston & Maine common..................
Do
do
preferred............
Boston & Providence (leased)..........
Boston Revere Beach & Lynn_____
Buffalo Rochester & Pitts common..
Do
do
preferred............
Buff & Susq RR pref (leased)..........
Canada Southern guar......................
Canadian Pacific____ ____________
Do
preferred..........................
Catawissa (leased) preferred stocks.
Central of New Jersey......................
Chesapeake <fe Ohio...................... .
Chicago & Alton RR common_____
Do
preferred...........................
Cum 4% prior lien & partic stock.
Chicago Burlington <fc Quincy R R ..
Chicago & Eastern Illinois preferred.
Chicago Great Western preferred A .
Chicago Ind & Louisville common..
Do
do
preferred............
Chicago Junction Railways, &c____
Do
do
preferred_______
Chicago Milwaukee & St Paul_____
Do
do
preferred..............
Chicago & North Western_________
Do
do
preferred.............
Chicago Rock Island & Pacific R y ...
Chicago St Paul Minneap & Omaha.
Do
do
preferred..............
Cln Ham & Dayton common...........
Cin N O & Texas Pacific com m on...
Do
do
preferred..............
Cin Sandusky & Cleve pref (leased).
Cleve Cin Chicago & St Louis............
Do
do
preferred..............
Cleve & Plttsb original guar (leased).
Special guar betterment stock___
Colorado & Southern common_____
Do
do
first preferred
Do
do
second preferred.
Con & Mont all classes (leased)____
Connecticut River (leased)................
Conn & Passumpsic pref (leased)...
Cripple Creek Central common........
Do
do
preferred..............
Cuba RR preferred............................
Delaware & Bound Brook (leased)..
Delaware & Hudson Company____
Delaware Lackawanna & Western..
Denver & Rio Grande preferred----Des Moines & Fort Dodge preferred.
Detroit & Mackinac preferred_____
Elmira & Williamsport (leased)___
do
do
preferred ............
Erie first preferred
Do second preferred
European & North American (leased)
Evansville & Terre Haute................
Do
do
preferred__ ____
Fitchburg preferred (leased)............
Fonda Johnstown & Gloversv, pref
Ft Wayne & Jackson pref (leased)..
Ft Worth & Denver City "stpd stk” .
Georgia (leased)...................... ..........
Georgia Southern « Florida first pref
Do
do
second preferred.
Grand Rapids & Indiana..................
Grand Trunk guaranteed..................
Do
do first preference____
Do
do second preference..
Do
do third preference...
Great Northern..................................
Iron Ore Properties (certificates)..
Green Bay & Western_____________
Gulf & Ship Island..............................
Harrisburg Portsm Mt Joy A Lancas
Hartford A Conn Western (leased)..
Hocking Valley common....................
- Do
do
preferred.............
Huntingdon & Broad T o p ................
Do
do
preferred..............
Illinois Central.................................. Interborough-Metropol. Co preferred
Interborough Rapid Tr (N Y C ity)..
Kansas City Southern preferred........
Keokuk A Des Moines pref (leased)..
Lake Erie A Western preferred........
Lake Shore & Michigan Southern__
Lehigh Coal A Navigation................
Lehigh Valley common......................
Do
do
preferred..............
Little Schuyl Nav RR&Coal (leased)




1903.

Dividend Periods.

1904.

1905.

1906.

"9*
10 ’
■«"
Feb & Aug
7
8 & 3 extra
7
Annual
9
9
9
Jan & July
4
4
4
June A Dec
5
5
5
Feb <fe Aug
7
7
7
Mch A Sept
8
9
8
Quarterly— Mch
6
5 & 25 scr(f)
5
Jan A July
5
5
May & Nov
5
_
2
Mch A Sept
4
4
Mch A Sept
4H
4
4
4
Mch A Sept
3
3X
Jan A July
8%
8*A
Quarterly— Mch
8H
8
8
8
Jan & July
7
7
7
Quarterly—Jan
6
6
6
Mch & Sept
10
10
10
Quarterly—Jan
2
2
2
Jan & July
6
0
Feb & Aug
0
6
6
Feb A Aug
4
4
4
Quarterly— Mch
2
2X
Feb A Aug
2M
April A Oct
6
6
5H
4
4
4
April & Oct
May A Nov
5
5
5
Quarterly— Feb
8
8
8
1
1
1
Quarterly— Mch
Feb & Aug lNew comp any; consoli datlon of f
Jan & July
arch
8
1906
M
J
1
7
7
7
Quarterly—Jan
6
Quarterly— Jan
6
0
2^
5
April A Oct
3
June A Dec
3X
2H
4
4
4
June & Dec
8
8
Quarterly—Jan
8
6
6
Quarterly—Jan
6
April A Oct
7
7
7
April A Oct
7
7
7
Jan A July
7
7
7
Quarterly—Jan
8
8
8
Quarterly—Jan
6K&1.63ext
7X(e)
8H
6
Feb <fe Aug
6
7
7
7
Feb & Aug
7
June A Dec
Quarterly— Mch
May & Nov
Mch A Sept
Quarterly— Jan
Qparterly— Mch
Quarterly— Mch
Annual—Dec
April & Oct
April A Oct •
Quarterly —Jan
Jan A July
Feb <fe Aug
Quarterly—Jan
Quarterly
Feb & Aug
Quarterly—Feb
Quarterly— Mch
Quarterly—Jan
Jan & July
Annual—Aug
Jan A July
May A Nov
Jan & July
Semi-annual
April & Oct
April & Oct
Annual—Nov
April A Oct
Quarterly—Jan
Quarterly— Mch
Mch A Sept
Annual—Feb
Quarterly—Jan
May & Nov
May & Nov
April & Oct
April & Oct
April & Oct
April & Oct
Annual—April
Quarterly— Feb
Annual—Feb
Jan
Feb
Jan
Jan

&
A
&
A

July
Aug
July
July

Jan <fe Juiy
Mch & Sept
Quarterly—Jan
Quarterly—Jan
Quarterly—Jan
Annual
Jan A July
Jan A July
May A Nov
Jan A July
Jan A July
Jan A July

2
6
6
4
5
7
...

■§"
5
6
4
5
7
...

'4*

”sT

7
10
6

7
10
6
--...

__
...

T
7
7
5
7
4.52
6.30
3>*

*6*
5
6
4
5
7
4
...
7
10
6
3
4

2
2
7
6
5
3
4
8
6
7
7
7
8
6
7
7.
's k
5
6
4
5
7
4
'4*

7
10
6
5H A 2 ext
4

X

5

5
5

5
6

5
5

~5X
4
11
5
4
3
4
5
6
1
7

's k
4
11
5
4
3
4
2H
2^
2
7

11
5
4
. 3
4
7J4

6
6

Tk
0 & 1 extra.

2
4
7
6
mmm

_
5

1909.

2
' 0'
6
o'
7
7
7
.
9
9&30 spec.
9
6
5^
0
5
5
5
7
7
7
8
9
10
6
5 ^ (h )
5H
5
5
5
5
2
0
6
6
4
4
4
4
4
4
8M
8?i
8Ji
8
8
8
7
6
6
6
6
10
10
10
5
6
6
4
5J4
4H
6
6
6
4i
4
4
2^
2>4
2H
0 & 1 extra 6 & 1 extra 6 & Hextra
4
4
4
5
5
5
8
8
8 & 2 extra
1
1
3
1
4
4
4
4
4
5
8
7M&6ext(t/)
8
8
6
6
6
2^
3
3
3H
4
4
4
8
8
8
6
0
6
7
7
7
7
7
7
7
7
7
8
8
8
5 )i
5
5H
7
7
7
7
7
7
*5*
5
6
4
5
7
4
'4 '
4
7
10
6
0
4

'5 H

5
4
5
5

5
4
5
5

*5k
4
11
5
4H
3
4
5
5
2
7

'6 k
4
11
5
5
3
4
5
5
_
3
7
7&1H extra
__
__
_•
Si
4
4
5
5
5
4
3
3
5
4
7 & H extra 7 A Yt extra 7 & Yt extra 7 & H extra 7 & H extra 7 &
2
2
2
2
2
3
3
3
3
3)*
4
4
4
4
4
7
6
...

1008.

_5*
5
6
1
5
7
4

*5*
5
6

4
4
7
10
6

4
4
7
10
6

4

4

5
7
4

T
*8"
8
7
7
7
9
9
9
7 & 10 extra 9X & 10 ext 10& 10 extra 10& 10 extra 10& 10 extra (e)70&15stk
5
5
5
5
5
5
6
5
5
5
5
5
5
5
5
5
5
5
4.54
4.52
4.48
4.48
4.76
4.76
6.30
6.35
6.30
6.30
6.60
6.00
4
4
4
2

T

__

6~
7
9
4J*
5
7
10
0
5
5
5X
4
4
8*A
8
7
6
10
4
6
6
4
2H
6
4
5
8
1
~

1907.

~2*
IH
3
8
7
1
10
6

's k

__

3
8
8
4
10
5H

'7 k
& k ext

IB
3
8
8
4
10
5

'7*
7

8*

‘ S'
4
5
5

5*
4
5
5
4H
5J4
4
11
5
5
3
4
7
2J^

'5 k
4
11
5
5
3
4
2H
2H
3
7
7
SI
SI
5
5
3
4
extra 7 & M extra
2
2
4
4
4
4
—
*3 k
7
7

*9'
4
4
1
1J*
3
1
12
12 & 2 extra
12
8
8
8 & 1 extra
4 & 2 extra 4 & 2 extra 4 & 2 extra
10
10
10
6^
5
5H
5

[Y o l. l x x x x ,

RAILWAY AND INDUSTRIAL SECTION.

8

DIVIDENDS ON RAILROAD STOCKS.— Concluded,
Name of Company.

Dividend. Periods.

1903.

Louisiana & Arkansas_____________
Semi-Annual
Louisville & Nashville........................
Feb & Aug
Mahoning Coal RR, common............
Feb & Aug
Maine Central.................... ................ Quarterly— Jan
Manchester & Lawrence (leased)...
May & Nov
Manhattan Elevated guar (leased)__ Quarterly— Jan
Michigan Central_________________
Jan & July
Minehlll & Schuylkill Haven (leased) Jan & July
Minneapolis & St Louis common___
Jan & July
Do
do
preferred.............. Jan & July
Minn St P & S Ste Marie common__
April <fe Oct
Do
do
preferred.............
April & Oct
Missouri Kansas & Texas preferred..
May & Nov
Jan & July
Missouri P a cific............ ............. .
June & Dec
Mobile & Ohio.......................... ...........
May & Nov
Nashua & Lowell (leased).......... .......
Feb & Aug
Nashville Chattanooga & St Louis__
Semi-annual
National Rys of Mexico 1st pref.........
Annual
New Orleans & Northeastern______
New York Central & Hudson R iver.. Quarterly—Jan
Annual— Mch
N Y Chicago & St L 1st preferred___
Annual— Mch
Do
do
2d preferred----J-J & A-0
N Y & Har (inc 4th Av) com & pref.
Quarterly— Mch
N Y New Haven & Hartford__
Annual
N Y Ontario & Western............
June & Dec
Norfolk & Western com m on ...
Feb & Aug
Do
do
preferred..
Quarterly— Fe D
North Pennsylvania (leased)..
Quarterly—Jan
Northern (N H) (leased).........
Jan & July
Northern Central......................
Quarterlv— Feb
Northern Pacific_____________
Norwich & Worcester pref (leased).. Quarterly—Jan
Quarterly—Jan
Old Colony (leased)........ .........
Quarterly— Feb
Pacific Coast common........ —
Quarterly—Feb
Do
1st preferred____
Quarterly— Feb
Do
2d preferred_____
May & Nov
Pennsylvania Railroad............
June & Dec
Philadelphia & Trenton (leased)----Pittsburgh Bess & L E com (leased).
Do
do
preferred..
Pitts Cin'Chlc & St L common.
Do
do
preferred..
Pittsburgh & Lake Erie.
do

Do

preferred.

Do
do
preferred.
Reading Company common..
Do
do
1st prefen
Do
do
2d preferi

Rutland preferred..................
St Louis & San Fran 1st pref..
Do
do
2d prefen
Chic & E 111 com trust ctfs.
Do
do
pref tr c
K C F t S & M pref tr c t fs ...
Southern Pacific com m on...
Southern Railway preferred.
Texas Central common..............
Do
preferred_________
Toledo St Louis & Western pref.
Union Pacific common..............
Do
do
preferred__
Vandalia
i

Do
do
preferred.
West Jersey & Seashore........
Wisconsin Central preferred..

1904.

1905.

5
6
5
10
10
10
7
7
64
10
10
10
7 4 (e ) 6 & 1 extra. 6J* & H ext
4
4
4
54
514
5)4
5
24
5
5
5
2
4
4
7
7
7
6
2
9
3
5
5
3
10&4
8
3
4
8
6
8
7
8
7
5
5
5
6
4

Quarterly— Jan
April & Oct
June & Dec
Feb & Aug
Jan & July
Quarterly—Jan
Feb & Aug
Mch & Sept
Mch & Sept
Quarterly— Mch

10
3
6
3
4
7
10
7
7
10

April & Oct
Feb & Aug
Mch & Sept
May & Nov
Jan & July,
Quarterly— Feb
Quarterly—Feb
Annual— Jan
Quarterly— Feb
Quarterly—Mch
Jan & July
Quarterly—Jan
Quarterly—Jan
Jan & July
Semi-annual
Quarterly—Jan
April & Oct
April & Oct
Quarterly— Feb
Annual—July
Jan & July
April & Oct
Quarterly— Jan
April & Oct
Quarterly— Jan
Feb & Aug
April & Oct
Annual— Nov
Annual
Semi-annual
Quarterly
Jan & July

4

__

•

4
14
8
5
1
4
4
10
6
4

_

5

5

4
4
10
6
4

4
4
10
6
4

.

5
34

__

24
5
4
4
10

1907.

1908.

14
6
10
7
10
7
4
54

3
6
12
74
10
7
6
54

3
5*$&lstk(J)
12
8
10
7
6 & 2 extra
54

1909.
3

54.

12

8
10

7
6

54-

5
5
5
’ if
4
4
6
6
7
7
7
7
4
4:
4
4
2 4 stock
5
5
5
5
4
2
6
5
~~24
54
9
9
9 & 4 extra 9 & 4 extra 3 & 4 extra &4. extra
5
4
'6
5
5
54
2
1
4
5
6
3
5
314
5
6
5
5
5
54
5
5
5
5
5
5
4
5
5
3
3
3
10&4
10&4
10&4
10
10&4
10&4
8
8
8
8
8
8
2
2
2
2
4)4
4
6
3
44 ­
314
44
4
4
4
4
4
4
8
8
8
8
8
6
6
6
6
6
6 & M extra
8
8
8 & 12 4 stk
8
8
8
7
7&SU.26 ex
7
7
6 & 4 extra
7
8
8
8
8
8
8
7
7
7
7
7
7
6
6
44
44
5
54
5
5
5
5
6
5
4
J4
5
44
54
7
6
6
64
6
4
4
4
4
4
4
12
12
12
12
12
12
10
10
10
10
10
10
3
3
3
3
3
3
6
6
6
6
6
6
4
3
3
3
4
4
4
4
5
5
6
44
7
7
7
7
7
7
10
10
10
12
10
11
7
7
7
z6
7
7
7
7
7
7
x7
7
10
10
10
10
10
10
3}4
24
~4~
4
4
“4
4
4
4
4
4
4
34
4
4
4
4
4
4
4
4
4
4
4
4
9
9
9
9(m)
8
8 4 & 4 ext.

___
__

6

1906.

5

---

4
4
10

6
24
5
5

6
3
5
5

44a

54

5
4
3
5
5

44
4
10
2
6
2
5
54
54

_5*
14
4

T
14
4

T
14
4

~5~

10
6
4

10
6
4

10
6
4

id'

__

_

8
4
10
4
6

5
54
4
4
4
5
5
4
10
4
10
5
6

5
6

5
6

54

54

24
24
5
4
4
5
6

~4 ~

6

4
2(No. 1)

—
...

6

’ 0’

—

4

...
...

5
4

5
4
10
4
10
5
6

10

4

10

5
6

5
4
3
54

4
1
54

a In Jan. 1903 dividend reduced and floating debt paid off. 6 Increase due to change of dividend period, d in March 1900 stockholders
voted to increase the common stock; part of the increase to be used to retire the preferred stock and pay the accumulated dividends tnereon,
amounting April 1 1900 to 54%. e Paid 4M% in Jan. 1903, viz.: regular quarterly dividend of 1 4 % and 3% as an advance payment of part
of dividend for coming year.” h Three per cent of this paid in Atlantic Coast Line RR. 4% certificates of indebtedness, i Leased from July 1
1907 at 4% . I Payable in shares of the Louisville Property Co. m Also in Jan. 1907 paid 25% in dividend obligations, s Leased from April 1
1903 to Interborough Rapid Transit Co., and paid April 1 1903 from surplus earnings for the nine months to that date an extra dividend or 1%.
t On Jan. 10 1905 paid 20% in common stock scrip and 5% in Atlantic Coast Line Company certificates of indebtedness, x First dividends on
stocks of new company, y Leased from Oct. 1901 to Chicago Burlington & Quincy Railway at 7% per annum on stock, but lease abrogated in
July 1907. z Includes 10% regular (.2 4 % quar.), regular extra payment of 10% and a special dividend of 50%. "

DIVIDENDS OF LEADING INDUSTRIAL STOCKS.
Name of Company.

Dividend Periods.

June & Dec
Adams Express___________________
Allis-Chalmers preferred___________ Quarterly—Feb
Amalgamated Copper_____________ Quarterly— Feb
April & Oct
American Agricultural Chem pref__
American Beet Sugar preferred____ Quarterly—Jan
American Can preferred___________ Quarterly—Jan
American Car & Foundry common.. Quarterly— Jan
Do
do
preferred
___ Quarterly—Jan
Jan & July
American Cement_________________
Monthly
American Chicle common__________
Do
do
preferred_______ Quarterly— Jan
Ampriran fV»t4nn Op rnmmnn

Do
do
preferred______
American Express________________
American Hide & Leather preferred.
American Ice Securities......................
American Light & Traction common
Preferred ...................... .................
American Locomotive common........
Do
do
preferred_______
American Malt Corp preferred..........
American Radiator common______
Preferred _____________________
Amer Smelters Securities preferred A
Preferred "B .” guaranteed_______
American Smelting & Refining com.
Do
do
preferred_______




1909.
1908
1907.
1904.
1905.
1906.
1903.
4 & 6 extra 4 & 6 extra 4 & 6 extra 4 & 6 extra 4&0 extra w 4 & 4 extra 4 & 8 extra
—
__
__
__
7
14
2
2
6 &‘ l extra 6 & 1 extra
2
2
~44
6
6
6
6
6
6
6
6
6
6
6
6
6
6
5
5
5
5
5
5
24
2
3
__
3
4
1
...
7
7
7
7
7
7
6 2-3 (»)
6
6 & 2 extra
6
6 & 2 extra 6 & 2 extra
6
6
12
12 & 4 extra 12 & 6 extra 12 & 6 extra 12 & 6 extra.
12
12
6
•
6
6
6
6
6
6
5
•
7
4
1
2
3
6
•
6
6
6
6
■<T
6
12
•
12
6 & 2 extra 6 & 2 extra 6 & 2 extra 6 & 5 extra
12
__
„ _
---- ■ ■
...
3
Organized in 1899.
Incorp. Mar ch 29 1905.
...
...
54
d9&12Hcom64
...
54
34
44
14
6
6
6
6
6
6
6

June & Dec
Quarterly— Jan
Quarterly— Feb
Quarterly— Jan
Quarterly— Feb
Quarterly— Feb
Quarterly— Feb
~7~
~7~
Quarterly— Jan
__ __
May & Nov
1
Quarterly— Mch
7
■7 *
Quarterly— Feb
Incorpor.
M
arch
31
1905
Quarterly— Mch
Quarterly— Mch
’ 6*
Quarterly—Jan
7
Quarterly—Jan
7

■f"
—
4
7
4
24
54

7

24
7

—
4
7
6
5
7
7

5

7
—
4 & 2 extra
7
6
5
74

7

34
7
24
4 & 2 extra 6

7
6
5
6
7

• ■
•
• •

• ■

‘ 7*
5
& 2 extra
7
6
5
4
7

RAILWAY AND INDUSTRIAL SECTION.

Ja n ., 1910.]

9

DIVIDENDS ON LEADING INDUSTRIAL STOCKS.— Concluded.
Name of Company.
American Snuff common..........
Do
do
preferred..
.. .
American Sugar Refining com mon..
Do
do
preferred..
American Telephone & Telegraph__
American Thread preferred__
American Tobacco common__
Do
do
preferred..
American Type Founders com mon..
Preferred ................... .........
American Woolen preferred__
Anaconda Copper Mining........
Associated Merchants common
First preferred......................
Second preferred..................
Barney & Smith Car common..
Dp
do
preferred..
Bethlenem Steel Corp preferred
Preferred ____________
Brooklyn Union Gas........
Butterick Company..........
Calumet & Hecla Mining..
Cambria Steel....................
Central Leather preferred.

Dividend Periods.
Quarterly—Jan
Quarterly—Jan
Quarterly—Jan
Part Q-J,part J-J
Quarterly—Jan
Jan & July
Quarterly— Mch
Quarterly—Jan
Quarterly— Jan
Quarterly—Jan
Quarterly—Jan
Quarterly—Jan
Quarterly— Mch
Quarterly—Jan
Quarterly—Jan
Quarterly— Mch
Quarterly— Mch
Quarterly— Feb
Feb & Aug
Quarterly— Mch
Semi-annual
Quarterly— Mch
Quarterly— Mch
Feb & Aug
Quarterly—Jan
Quarterly—Jan
Quarterly—Jan
Quarterly—Jan
Quarterly— Feb
Quarterly— Feb
Quarterly— Mch

Chicago Pneumatic Tool_____
Claflin (H B) common..............
First preferred......................
Second preferred..................
Consolidated Gas of New York.
Consolidation Coal.
Corn Products Refining preferred... Quarterly—Jan
Quarterly—Mch
Crucible Steel preferred............
Diamond Match.......................
Quarterly— Mch
Distillers’ Securities Corporation----- Quarterly—Jan
Eastman Kodak, common----Quarterly—Jan
Do
do
preferred. .
Quarterly—Jan
Edison Electric Uluminat’g, Boston. Quarterly— Feb
Electric Boat common..............
Annual— Dec
Do
do
preferred..
Quarterly—Jan
Electric Storage Battery com m on... Quarterly—Jan
Do
do
preferred..
Quarterly—Jan
Do
do
preferred..
General Chemical common___
Do
do
preferred..
General Electric common____
International Paper preferred.
International S a lt....................
International Silver preferred .
Do

do

preferred.

Laclede Gas common..............
Do
do
preferred.
Mackay Companies common.
Do
do
preferred.
Mergen thaler Linotype_____
Mexican Telegraph..................
National Biscuit common___
Do
do
preferred.
Do
do
preferred...
National Fireproofing preferred.
National Lead common..............
Do
do
preferred...
National Sugar preferred..........
New York Air Brake..............
New York D ock......................
North American................ .....
Otis Elevator common_____
Do
do
preferred.
Pennsylvania Steel preferred.
Pittsburgh Coal preferred____
Pressed Steel Car common___
Do
do
preferred..
Procter & Gamble com m on...
Do
do
preferred..
Pullman Company.......... .........
Railway Steel Spring common.
Do
do
preferred..
Royal Baking Powder common.
Do
do
preferred__
Do

do

preferred.

Do
do
preferred..
Standard Milling preferred___
Standard Oil..............................
Swift & Company.......... .........
Union Bag & Paper preferred.
Union F erry.............. ...............
Union Typewriter common___
First preferred____________
Second preferred..................
Preferred ____________
United Fruit......................
United Gas Improvement.
Do
do
preferred.
U S Cast Iron Pipe & Fdy con
Do
do
preferred.
United States Express............
Do
ted £
Do

do
tes £
do

preferred.

Do
do
preferred.
Wells, Fargo & Co..................
Welsbach Co............................
Western Union Telegraph----Do

do

Quarterly— Mch
Quarterly— Mch
Quarterly— Jan
Quarterly— Mch
Quarterly—Jan
Quarterly—Jan
Quarterly— Feb
Quarterly— Mch
Quarterly— Mch
June & Dec
Quarterly— Jan
Quarterly—Jan
Quarterly— Mch
Quarterly—Jan
Quarterly— Feb
Quarterly—Jan
Quarterly— Mch
Quarterly— Jan
Quarterly— Mch
Quarterly—Jan
Quarterly—Jan
Quarterly— Jan
April & Oct
Quarterly—Jan
April & Oct
May & Nov
Quarterly— Feb
Quarterly— Jan
Quarterly— Feb
Quarterly— Feb
Quarterly— Feb
Quarterly— Jan
Quarterly—Feb
April & Oct
Quarterly— Mch
Quarterly—Jan
Quarterly— Mch
Quarterly— Mch
Quarterly— Mch
Quarterly— Mch

1903.

1904.

1905.

1906.

1907.

1908

1909.

19
13
10
10
10
10
1054
6
6
6
6
6
6
6
7
7
7
7
7
7
7
7
7
7
7
7
7
8
8
8
6 & I X extra 6 & 154extra 6 & 154extra 6X & IX ex
5
5
5
5
5
5
6
10
&
15extra
10&2254 ext
...
10 & 10 ext 10 & 1254ex
6
6
6
6
4
4
4
4
4
4 & 3’ scrip
7
7
7
7
7
7
7
7
7
7
7
4
8
4
26
8
1954
7
7
7 & X extra 7 & 1X extra 7 & 2 extra 7 & 2 extra
extra
5
5
5 & 54 extra 5 & 1 extra 5 & 1 extra 5 & 54 extra
extra
6
6
6 & 54 extra 6 & 1 extra 6 & 1 extra 6 & 54 extra
____
__
4
2
4
8
8
8
8
8&36 comstk
Incorp. Dec 10 1904
7
3X
54
8
8
8&1X extra 8 & 2 extra 8 & 2 extra 8 & 2 extra 8 & 2 extra
6
6
6
6
6
6
6
6
8
3
OX
554
84X
4
4
4
254
3
154
108
160
160 & 40 ext
80
140
280
260
3
3
3
3
3
3
3
7
(Incorporate d April 12 19 05) 154
7
7
7
6
6
6
6
6
6 & 25 stock
6
3
4
4
X
754
8
8
8
8
8
8
5
5
5
5
5
5
5
6
6
6
6
6
6
6
4
5
4
4
8
8X
8X
2 & 2 extra 2 & 2 extra
k 60 stock
6 & 2 extra 6 & 2 extra
1054
2
Consolidati on in 1906
4 & 1 extra 4 & l extra
i
6
5 54
'554
vu
10
10
8
10
10
16
10
4
4
4J4
2
2
4
554
10
10
10
10&0X ext. 10 & 10 ext. 10 & 15 ext. 10 & 20 ext.
6
6
6
6
6
6
6
10
10 & 1 extra 10 & 1 extra 10 & 1 extra
10
10
10
2
2
2
2
8
8
8
8
8
2
8
3
5
5
5
5
5
354
5
3
5
5
5
5
354
6 & 4 extra 6 & 11 extra 6 & 854 ext.
lH
454
7
7
7
~7~
7
7
“ih
4
4
4
4
5
6
6
6
6
_6*
'<T
6
8
8
8
8
8
8
8
2
4
6
6
6
6
6
4
1
Incorporate d Aug. 1901
4
4
4
554&"i extra
~'4~X
'454
___
___
____
1
4
3X
"o’
6
6
6
6
6
6
8
8
8
8
8
8
7X
6
5
4
5
5
5
5
5
5
5
5
5
5
5
4
2
3
4
4
4
4
4
4
4
3
10 & 5 extra 10 & 5 extra 10 & 5 extra 10 & 5 extra 10 & 5 extra 10 & 5 extra 10 & 5 extra
10 & 50 stk
10
10
10
10
10
10 & 25 stk
4 & 1 extra 454& 1 extra 5 & 1 extra
554
7
7
7
7
7
7
___
4
4
IX
7
7
7
7
854(o)
7
2
4 & 1 extra
1
7
7
554
2
5
454
7
7
7
7
~7~
T
T
6
6
6
6
6
6
6
6
6
6
6
6
6
6
___
8
8
8
8
8
4*
4
2
4 & 54 extra
2
2 & X extra
354
___
5
5
4
5
354
354
3
2
2
3
3
2
2
6
6
6
6
6
6
6
7
7
7
7
7
7
7
6
6
6
5
6
m
6
7(c)
7
3X
___
___
3
4 & 1 extra
. . .
7
7
7
7
7
7
7
12
12
12
12
12
12&14 2-7 ex 12 & 25 ext
8
8
8
8
8
8
8
8
8
8
8
k8
8
8
4
3
4
4
(Inc. Feb. 25 '02.) 2
7
7
7
7
7
7&7Hx ext /i854&6x ext
7
154(f) 3 54& U ext.
154
10
10
10
8
8 <fe 2 special
8
8
6
6
6
6
6
6
6
~7~

~ T

~7~
5&3354 com

7
5

7
5 8-331

1

7
5 & 54 extra
7
3 & 54 extra 3 & X extra
40
40
7 •
7
4
4
3
54
7
454

~7~
2
2
1
2
3
44
36
40
40
40
7
7
7
7
7
7
7
7
4
6J4
2
2
2
2
2
6
6
6
6
6
April & Oct
7
7
7
7
7
7
~7~ April & Oct
8
8
8
8
8
8
8
April & Oct
_ •
___
___
2
\
Quarterly— Feb / Incorpor ated In
May 1909
J
Quarterly—Mch 1
354
10
exi
8
&
10
extra
Quarterly—Jan 6 & 1 extra
7
7
7
754
8
4
8
8
8
8
8
Quarterly—Jan
8&25
com
st
8
8
8
8
8
Quarterly— Jan
6
6
6
6
6
6
Quarterly—Jan
4
1
4
Quarterly— Mch
7
8
7
4
Quarterly— Mch
354
354
454
4
4
6
4
5
4
May & Nov
4
8
8
6&154 extra
8
8
Quarterly—Jan
454
6
6
6
6
Quarterly—Jan
IX
___
2
2
Quarterly— Mch
4
lYi
2H
7
7
7
7
7
7
Quarterly— Mch
7
3
2X
~8~
T
8
8
10
10
Jan & July 6 & 2 extra 6 & 2 extra 6 & 2 extra 8 & 1 extra
10
2
2
2
2
Annual—Sept
2
2
2
5
5
5
5
3
1& 254 stock
10
10
Quarterly—Jan
10
10
1 54&3 54z ex
10
10
Quarterly—Jan
10
10
...
m
April & Oct
Quarterly— Mch
Quarterly—Jan
Quarterly—Jan

a Fluctuations in yearly amounts due to variations In dates of payment, c Of this, 154% is payable in 6% interest-bearing dividend scrip
h 154% of this is dividend for Jan. 1908 anticipated and paid in Dec
1907. i Increase due to change in dividend period, k Also 36% stock dividend paid in Nov. 1906. I The Jan. 1908 dividend of 154% was
anticipated and paid on Dec. 21 1907. t> Decrease due to change in dividend period, w An extra dividend of 200% payable in collateral trust
bonds was declared in June 1907. x On account of accumulated dividends; balance of accumulations paid in 1907. y Two per cent of this on
account of accrued dividend. 2 On account of accumulated divs. " T y f -T-Tv*?•'•T ? r r.
-I •-jtf j f

f Also paid in Jan. 1903 21)4% in scrip for unpaid dividends to that date,




RAILROAD COMPANIES.
FOR MISCELLANEOUS COMPANIES SEE PAGES 145 TO 171, INCLUSIVE.
T T h i,Supplement Is expressly Intended for use In connection with the investment news and official reports published from week to
week In the Chronicle.
Frequent reference Is therefore made to the volume and page of the "Chronicle” (as V. 88, p. 000) where fuller Information
may be found. Following also each statement Is given a reference to the latest news Item In the “ Chronicle” respecting the company. As every
Wack^faced°ngurcs & reference t0 tbe ,ast Preceding Item, the reader can run back over the company’s history at pleasure. Annual reports are In
alphabetical order may be found by means of the Index, on another page, to roads leased and consolidated.
Dividends. lh e dividends tabulated In the text are those actually paid during the calendar years named, Irrespective of when earned.
Net earnings are given after deducting operating expenses and frequently taxes, but not Interest, rentals or other fixed charges.
aeCM A , *S6
'* t, 1 j e
descrlbed In table at head of page (except the stock, for lack of space, sometimes only In text below) as follows:
Allies of Road. Opposite bonds, this means the miles of road owned covered by the mortgage.
Site or Par Value.— Shows (In dollars unless otherwise marked), the denominations or par value. “ 100, Ac. ” signifying J100 and larger.
Rate Per Cent. The Interest and dividend rate per annum Is here shown: g, gold: cur, currency; x, extra; s, stock or scrip
When Payable. J & J stands for January and July; F & A, February and August; M A S, .March and September; A & O, April and October: M A N.
May and November; J & D, June and December; Q-J, quarterly from January: O-F. ouarterlv from F rhm arv ci-M nnnrt.nriv from

NEW YORK CITY—
Ba— Bankers’ Trust
Ca — Carnegie Trust
Ce — Central Trust
Eu — Equitable Trust
F — Farmers’ Loan A Trust
Q — Guaranty Trust
K — Knickerbocker Trust
Ma— Manhattan Trust
Me— Mercantile Trust
Alp—Metropolitan Trust
N — New York Trust
8 — Standard Trust

N Y C IT Y— (.Concluded)
Ta — Trust Co of America
Un — Union Trust
Us — United States Trust
Osm — U S Mort & Trust Co

CHICAGO—
AC — Amer Trust & Sav Bk
FC — First Tr A Sav Bk
IC — Illinois Trust & Sav Bk
AlC — Merchants’ Loan A Tr
NC — Northern Trust
C — Royal Trust
C — Union Trust
WC— Western Trust A Sav Bk

BOSTON—
AB — American Trust
BB — Boston Safe Dep A Tr
IB — International Trust
NB — New England Trust
OB — Old Colony Trust
BALTIMORE—
SB — State Trust
ST LOUIS—
BBa — Balt Tr A Guaranty
AlSt— Mississippi Valley Tr
CoBa — Continental Trust
SSt — St Louis Union Trust
FBa — Fidelity Trust Co
LOUISVILLE—
SAN FRANCISCO—
MBa — Maryland Trust
CL — Columbia Finance A Tr CS — California Safe Deposit
MeBa— Mercantile Tr & Dep FL— Fidelity Tr & Safety V
& Trust
SBa — Safe Dep A Tmst Co L L — Louisville Trust

S

„ PHILADELPHIA—
FP — Fidelity Trust
GP — Girard Trust
GuP— Guaranty Tr A S Dep
P IP — Provident Life A T r
PeP — Penn Co tor Insur on
Lives A Gr Ann
VVP — West End Tr & S D
PITTSBURGH—
CPi — Colonial Trust Co.
FPi — Fidelity Title & Trust
PPi — Pittsburgh Trust
IJ Pi — Union Trust

Subscribers will confer a favor by giving immediate notice of any error discovered in these tables.
RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
Adirondack Ry— Seo Delaware & Hudson Co.
Akron & Barberton Belt— 1st Ms f (text) g-U sm .*cAr
Alabama Great Southern— Ordinary stock____
Pref stock 6% $4,000,000.............................................
First M g ext In 1008 (V 85 p 1645, 1460)...........F.c
General mtge £1,160,000.....................................Ce.c
Car trust $50,000 due seml-ann gold____________ N
Do
$74,000 due s a gold (V 82, p 867)____
Do
Series E, due $50,000 s.-a. (V .88,p .1559)
Alabama Midland— See Atlantic Coast Line R R --------Ala N O Tex & Pac J— " A " deb redeem aft. 1910 115.c
” B” debentures Income redeem after 1910 at 115. .c
“ C” debentures Income subj to call any time at 100
Alabama Tennessee & Northern— 1st M gold (text). K
Alabama & Vicksburg— Stock $1,050,000_________ _
Vicksburg A Meridian 1st M gold $1,000,000.F.xc*
Alabama A Vicksburg con 1st M $1,800,000 g_.Ce.c
2d M orlg $700 000 g (1st M on 8,697 acres).Ce.c
Alberta & Gt Wat— 1st M deb $7,400,000 g gu te x t..
Albany & Northern— 1st M gold ($50,000 are p re f)..c
Albany & Susq— Stock dividends guar by D A H (end)
1st M $10,000,000 g gu p & I conv(text). Usm.c*Ar
Albany & Vermont— Stock 3% guaranteed by rental.
Allegheny & Western— Stock ($3,500,000)...................
First M $2,500,000 gold guar p A 1 (end)_____G.c*
Allegheny Valley— First M guaranteed by Penn R R .c
Gen M ($20,000,000) gold guar p & I___ FPi.xc*Ar

Miles Date
Road Bonds
1902

... ....
...
_ ....
1878
200 1888
... 1905
... 1906
... 1909
... 1890
... 1890
_ 1890
29 1906
143 —
143 1881
143 1889
143 1889
— 1909
35 1896

... —
1906
__
__

142
12
66
66
262
262

1898
1869
1892

Par
Value

Rate
%

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

$1,000 $1,024,000
4 g J A D June 11942
50 7,830,000
See text Tune 26 ’09 2%
50 3,380,350 6 In 1909 F A A Aug 31 ’09 3%
1,000
1,750,000 5 (6) g J A J Dec 1 1927
£100
£810,000
J A D Dec 1 1927
5g
1,000
$500,000
4 IS g F A A To Feb 1915
1,000
962.000
4K
M A N To May l 1916
1,000
1,000,000
4 J-S J A J Jan ’ 10-July 19

U S Mtge A Tr Co, N Y
See text_______________
do
Farm L A Tr, N Y; ABos
Glyn, Mills,C & Co.Lond
Blair & Co, N Y
New York

£50 Ac
£748,850
M A N Nov 1 1910-40
5g
£20 Ac £1,048,390
5 S M A N Nov 1 1910-40
£20 Ac
£810,653
5g
A <& O
1,000
$262,000
5 g A A O Oct 1 1956
100
1,050,000 7 In 1909 Yearly Sept 3 1900 7%
1,000
1,000,000
6 g A A o Apr 1 1921
100 Ac
588,800
5 g A A o Apr 1 1921
100 Ac
44/ ,400
5g
A A o Apr 1 1921
1,000 See text
5 g J A J Jan 1 1959
1,000
400,000
5 g J A J Jan 1 1946
100
3,500,000
12.45 J A J Jan ’ 10 7.95%
1,000 Ac See text
3 IS g A A o Apr 1 1946
3
100
M A N Nov 15 1909 l h
600,000
100
3,200,000
6 g J A J Jan 3 1910
1,000
2,000,000
A A o Oct 1 1998
4g
$ A £
9,998,000
7
A A o Apr 1 1010
1,000
7,250,000
4 g M A S Mch 11942

Glyn, Mills, C A Co, Lond
do
do
See text
Knickerbocker Tr Co,NY
Central Trust Co, N Y
do
do
do
do
do
do
J S Morgan A Co, Lond'n
Hamblcton A Co, Balt
Del A Hudson Co, N Y
do
do
Troy, N Y
A Isclln A Co,New York
do
do
Penn RR Co, Phil; A Lon
Penn R R Co, Phlla

AKRON & BARBERTON BELT RR.— Owns a belt line around Barber­
ton, O., and also extends to Fairlawn and Akron, O.; total, 40.2 miles. A
consolidation In May 1902; V. 74, p 1088. Stock, $100,000, owned equally
by the Cleveland Akron A Columbus, Balt. A Ohio, Erie R R . and Northern
Ohio R y. Bonds authorized, $1,500,000; Issued, l$ l,100,000, of which
$76,000 redeemed by sinking fund; $400,000 reserved for future require­
ments. Drawn at 105 yearly Dec 1 for sinking fund of $11,550 per annum.
V. 75, p. 440.— (V. 78, p. 2598.)
ALABAMA GREAT SOUTHERN RR.— (See Map Southern Ry. ) — Owns
Wauhatchle, Tenn., to Meridian, Miss., 291 miles; leases Wauhatehle to
Chattanooga, 5 miles, and Belt. Ry. of Chattanooga, 49 miles; owns half
interest In Woodstock & Blocton R y., 8 miles; trackage to Gadsden, Ala.,
6 miles; total operated, 358 miles.
ORGANIZATION.— Controlled by Southern Ry but operated Inde­
pendently. In 1905-06 the dual existence of the enterprise was ended, the
American corporation (Ala. Great South. RR.) succeeding the English cor­
poration (Ala. Great South., Ltd.) as the parent corporation, the amount of
outstanding stock remaining unchanged per plan In V. 81, p. 1722; V. 82
p . 159. Owns $833,300 stock of Southwestern Construction Co. received
fn exchange for $833,300 Cincinnati New Orleans A Texas Pacific stock.
DIVIDENDS—
'0 1 . ’02. ’03. ’ 04. ’0 5 to ’08. 1909.
Common stock........................................ 0
0
0
0
0
June, 2
Pref. stock (“ A ” shares old English co.) 9 9 10
9 6 yearly
6
BONDS.— Gen. mtge. 6s, £484,000, will retire first 6s and debentures.
The funded arrears of pref. dividends were In Feb. 1906 exchanged for an
equivalent amount ($399,464) of 4% obligations payable by sinking fund
10% semi-annually till all are redeemed Feb. 1 1911 and unconditionally
guaranteed by the Southern Ry. (V. 81, p. 1722; V. 82, p. 159). There arc
also $75,000 equipment trusts maturing to Aug. 25 1910.
LATEST EARNINGS.— 11909.........Gross, $1,653,685; net, $481,519
5 mos., July 1 to Nov. 30. J1908_____ Gross,
1,494,782; net, 429,198
ANNUAL REPORT.— Report for year ending June 30 1909, In V. 89,
p. 1276, showed: Gross, $3,560,292; net, Including outside operations,
$932,199; other Income, $147,462; deductions, $529,406; balance for stock,
$550,253; pref. divs. (6% ), $202,821; com. dlv. (2% ), paid June 1909,
calls for $156,600; bal., sur., $190,833. In 1907-08, gross, $3,572,981.—
(V. 89, p. 102, 1140, 1276.)
NEW ORLEANS TEXAS & PACIFIC JUNCTION RAIL­
WAYS CO. (LIMITED)— This Is an English company controlling Alabama
6 Vicksburg, 143 miles; Vicksburg Shreveport & Pacific, 189 miles; New
Orleans A North Eastern. 196 miles.
STOCK.— Pref. a 6% cum., £1,500,000; prf. B £2,500,000; par. £10.
F o
™
•" A ” stock, 3 >S % . paid March 10 1908, overdue abt.156%.
i ^ S ^ B J T I E S OWNED.— Alabama A Vicksburg $30 000 1st mtge,
363,400 2d mtge., $141,100 consol, mortgage and $581,500 stock; Vlcks•F & ,£«™ veport * Pacific, $1,613,000 gen. mtge., $2,080,100 pref. and
$2,773,500 com. stock; New Orleans A North Eastern, $5,195,000 gen.
mtge., $1,500,000 Incomes and $5,320,000 stock; Southwestern Construc­
tion Co., $448,700 stock; Railroad Lands Co.. $108 850 (of $120 000) stock.
PAID.— For......... ’94. ’95. '96. ’98. ’99. ’00. ’01. ’02 to ’09
A Debenture.......................% 5
5 5
5
5
5
5 5% yearly
B,
do
.......................% .875
1 2 )( 2 K 4H 5
5 5 % yearly
C
ao
------------------- % . .
__ _.
2 % 5 % yearly
EARNINGS.— See separate statement for each of the controlled companjes. In year ending Dec. 31 1008,net from Investments was $145,900
paid general expenses (£4,413), Income tax (£10,479), Interest on “ A ”
deb.®AuLe s (£35’57(bL> on 0 debentures 5% paid In Jan. 1909 (£40,798).
on ” C’ debentures, 5% paid Dec. 1 1908 (£38,506); sink. fd. to extinguish
debenture discount, £6,500; balance, surplus, £723.— (V. 80, p. 15 9 5 .)




Amount
Outstanding

ALABAMA TENNESSEE & NORTHERN RR. — Owns from Reform, A la.,
on the Mobile & Ohio southerly; 48 miles completed Jan 1910. Successor
t0
,on Short Line Ry. Stock authorized, $10,000 per mile.
, o f the bonds ($1,500,000 author. Issue), $232,000 were Issued against
me
miles, $30,000 have been Issued for a steel bridge over the
lomblgbee River, $10,000 are Issuable for a steel bridge over the Noxubee
River, $962,000 are Issuable at the rate of $8,000 per mile for additional
mileage, but only when the net earnings on completed mileage for the
previous fiscal year are equivalent to Interest on the bonds to be Issued In
addition to bonds outstanding, and $260,000 for equipment on the basil
of ten-elevenths of cost of enulpment. V. 83, r>. 1036. For year ending
June 30 1909, gross, $61,715, against $45,664 In 1907-08; net. $33,095,
against $22,687. For 5 mos. ending Nov. 30 1909, gross, $31,337, against
$25,787 In 1908; net, $16,237, against $14,557.— (V. 83, p. 1036.)
ALABAMA & VICKSBURG RY.— Owns Vicksburg to Meridian. Miss.,
and branch, 143 miles, all steel rails. Controlled by Alabama New Orleam
Texas A Pacific Junction Co., which see.
DIVIDENDS.— 1890 to 1892, 3% yearly: 1896, 3% ; 1897 to 1899, 5 %
1900 to 1902, 6 % yearly; 1903, 9 %; 1904 to 1909, 7 % yearly. Stock dlvl
dend of 50% In 1900.
BONDS.— $1,000,000 consols are held to retire Vicks. & Meridian firsts.
EARNINGS.— 5 mos.J1908-09_____ Gross, $698,725; net, $219,848
July 1 to Nov. 30.
11907-08.......... Gross, 640,380; net,
149,989
REPO RT.— Fiscal year ends June 30. Repftrt, V. 89, p. 1594.
Years—
Gross.
Net Inc. *Int.,& c. Iial.,sur.
Dividend.
1908-09 ...............$1,526,357 $359,428 $169,761 $189,667 (7)$73,500
1907-08 ............ 1,511,715 352,259
231,105
121,154
(7) 73,500
♦Includes $49,430 for additions and betterments In 1908-09 and $109,447
In 1907-08.— (V. 85, p. 1394; V. 87, p. 1295; V. 89, p. 1222, 1594.)
ALASKA NORTHERN RAILW AY.— Projected from Seward on soutb
coast of Alaska north to near Fairbanks, on Tanana River, 450 miles. O
this, 70 miles from Seward north were In operation Sept. 1 1907, and 42 mile3
partly constructed. V. 82, p. 1495. A 30-mlle branch to the Manatuska
coal fields Is proposed. Also a division 300 miles long to the Idatarod gold
fields. Annual report was In V. 87, p. 281. Successor to Alaska Central
R y., foreclosed Oct. 11 1909. V. 89, p. 1140, 1222. Stock authorized,
$30,000,000. President, Oscar G. Laberee, Spokane, Wash.— (V. 89, p.
992, 1140, 1222.)
ALBANY & NORTHERN RY.— See page 172.
ALBANY & SUSQUEHANNA RR.— (See Map Delaware A Hudson.) —
ROAD.— Owns Albany to Binghamton, N. Y ., 142 miles.
LEASED for term of charter, viz., 150 years from April 19 1851, to Del. &
Hudson Co.; rental was 9% per annum on stock (see guaranty, V. 56, p.
774), but the courts having held that the stock is entitled to the benefit of
refunding effected In 1906, $120,750 additional rental will be paid In Jan.
yearly, beginning 1910, making 3.45% available for extra dividends on
the stock. A special dividend of 30% ($1,050,000) was paid Nov. 16 1909
from the proceeds of the judgment for back rentals duo by reason o f re­
funding. V. 89, p. 1141, 1666.
BON DS.— The stockholders on April 7 1905 authorized $10,000,000 of 40*
year 3)S % bonds to refund the $10,000,000 of 6s and 7s maturing April 1
1906, which were In June 1905 offered at par pro rata to the stockholders of
the D. A H. The new bonds aredated April 1 1906, guar. p. & 1., and until
April 1 1916 convertible Into D. A II. stock— $500 stock for $1,000 bonds.
Of the bonds $3,354,000 had been converted to June 1909. V. 80, p. 1174,
1362, 2343. Form of guaranty. V. 82, p. 986.
Pres., Geo. P. Butler; Seo. and Treas., W. L. M. Phelps. New directors
(Oct. 1909), V. 89, p. 1068.— (V. 89, p. 1068, 1141, 1666.) u
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12

RAILWAY STOCKS AND BONDS.

RAII.RO a d c o m p a n i e s
[For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

3
Allentown Terminal— 1st M guarp & 1 (end) g_.C e.sc*
Alton Jacksonville & Peoria Ry— 1st M $800,000 gold
13
Amador Central— 1st M $300,000 gold
292
Ann Arbor— First mtge $7,000,000 gold------- Mp.xc*
Argentine Central— 1st M red 1012 at 106__________
143
Arkansas Louisiana & (iulf— 1st M $6,000,000 gold.
Arkansas Okla & West— 1st M $1,250,000 g (text) Usm
Ashland Coal & Iron— Stock-----------------------------------22
First refunding mortgage $400,000 gold_________ N
Astoria & Columbia— First mtge $8,000,000--------- Ce
Atchison & Eastern Bridge— I s t M g s fr e d a t par_.Ce
A tch T op& Santa Fe Ry— Stock.com $250,000,000 . .
Stock pref $131,486,000 5% non-cum------------------142
Chicago A St Louis 1st M ($10,000 p m) cur----- F.c
440
Chicago Santa Fe A California 1st i f g o ld .. BB.c*Ar
General mortgage gold (see text)............ Un.c*Ar 8,339
Adj Inc M cumulative since July 1 1000 g.Ce.c*Ar 8,339
8,339
do Interest stamped payable M A N
480
Eastern Oklahoma Dlv 1st M $0,603,000 g ..G .c* A r
694
TranscontTSLIstM $30,000,000gredll0 Moxc*r Ar*
Deb gold Ser F to L $2,500,000 each; call 105.G.cAr
Bonus $50,000,000 conv com stk red (text).G .c*A r
Bonds $30,000,000 conv com stk red (text). S.xc* Ar
Bonds $35,000,000 g conv com stk red (tex) .Gxc* Ar
141
Hutchinson A So 1st M g red 105 since 1908. -OB.c*
372
San Fr & San Jo Val 1st M g call 110 aft 1915-.Me.c
198
Santa Fe Pres A Phoenix— 1st M $5,000,000 g.Mec*
26 Ut
Prescott & Eastern first mtge p A 1guar------------ Ce
337
Atlanta Birm & Atl— Atl A B Ry 1st M red 110-OB.c*
Receiver’s certificates, redeemable par__________
Atl Blrm & Atl 1st M $30,000,000 g red 106.-OB.c
Joint coll trust notes gold redeemable 101------Ta.c*
Equip bonds due $60,000 s-a__________________ Ta
Equip bonds Ser B (V 85 p 39) due $86,000 s-a.-G
Georgia Terminal Co 1st M $4 000,000 g gu p & 1-OB
Alabama Term’l RR IstM $4,000,000 g gu p & l.OIl
269
Atlanta & Charlotte— Stock (see text)

1889
1905
1908
1895
1900
1907
1907
1900
1898
1885
1887
1895
1895
1895
1903
1908
1902
1905
1907
1909
1898
1896
1892
1898
1904
1909
1906
1006
1906
1907
1907
1907

When
Payable

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

Par
Value

Amount
Outstanding

$1,000
1,000
500
1,000
500 Ac
1,000
1,000
50
1,000

New York and Phlla
$450,000
4 g J A J July 1 1919
New York A St Louts
M A S Moll 1 1937
200,000
5g
M A N Nov 2 1938
Union Tr Co, San F’ ran
300,000
5g
Metropolitan Tr Co, N Y
7,000,000
4g
c —J July 1 1995
4th Nat Bk, N Y A Denv
200,000
6
J & .TJan 1 1926
N Y Mort Tr A Col Sprg
See text
5 g J A J July 1 1957
U S Mtge A Tr Co, N Y
See text
6 g J A J Jan 1 1947
773,500 4 In 1908 Q— M Dec 20 1909 1% Check from Co’s office
M A N May 1 1926
New York Trust Co, N Y
300,000
4g
F A A Aug 71996
3,280,000
'sisiooo
Central Trust Co, N Y
4 g J A J July 1 1928
161,577,000 See text. Q— M Mch 1 ’ 10 1 X % Checks mailed from N Y
do
do
114,173,730 5 In 1909 F A A Feb 1 1910 2 h
5 Nassau Street, N Y
6 cur M & S Mch 11915
1,500,000
do
do
560,000
5 g J & J Jan 1 1937
do
do
A A o Oct 1 1995
.
150,634,500
4g
do
do
July l 1995
20,769,000
Nov
4g
do
do
M A N July 1 1995
30,577,000
4g
do
do
M A S Meh 1 1928
9,603,000
4g
do
do
17,000,000
4 g J & J July 1 1958
do
do
F & A Feb 1 1911-1914
10,000,000
4g
do
do
20,437,000
4 g J & D J u n el1955
do
do
15,876 000
5 g ,r A 1) June 1 1917
do
do
See text
4 g J A 1) June 1 1955
do
do
192,000
5 g J A J Jan 1 1928
do
do
A A O Oct 1 1940
6,000,000
5g
Mercantile Trust Co, NY
M A S Sep 1 1942
4,940,000
5g
Central Trust Co, N Y
5
A A o Apr 1 1928
224,000
Old Colony Trust Co,Bos.
4,090,000
5 g J A J Jan 1 1934
Farmers’ L A Tr Co, N Y
3,250,000
5
.1 A J July 1 1911
Jan 1909 coupon not paid
14,443,000
5 g J A J Jan 1 1936
See text
M A N May 1 1910
8,000,000
5g
M A N M ay'10-Nov’ lO Nov 1909 coupon paid
840,000
5
5
1,290,000
J A .1 July’10 July’ 17 Jan 1910 coupon paid
Jan 1909 coupon not paid
3,000,000
5 g .1 A J Jan 10 1927
Jan 1909 coupon not paid
2.445,000
5 g J A J Jan 1 1927
1,700,000 7 In 1909 M A S Sept4 1909 3M U S Mtge A Tr Co, N Y

1,000
100
100
1,000
1,000 &c
500 &c
500 Ac
500 Ac
1,000 Ac
1.000 Ac
1,000 & C
1,000 Ac
1,000 Ac
1,000 Ac
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100

ALBANY & VERMONT RR.— Owns road from Albany to Waterford Jet.,
N. Y ., 12 miles. Leased to Rensselaer & Saratoga In 1860 and now oper­
ated by Delaware A Hudson Co. Annual rental, $20,000.
ALLEGHENY & WESTERN RY.— (.See Map Buff. Roch. A PlHs.) —
Punxsutawney to Butler, Pa., 60 miles; branch, New Castle, Pa., to Cement
Works, 6 m.; total, 66 miles. An extension of Buffalo Rochester & Pitts­
burgh. to which leased In perpetuity for guaranty of bonds and 6 % on stock.
Uses Balt. & Ohio from Butler to New Castle and Pittsburgh under a track­
age arrangement, making In all 147 miles. See application to list In full.
V. 70. p. 849.— (V. 74. p. 774; V. 82, p. 508, 626. 691.)
ALBERTA & GREAT WATERWAYS RY.— To extend from Edmonton,
Alberta, Canada, northeasterly to a point at or near Ft. MacMurray and
from a point near the western end of Lac la Blche to the eastern end thereof,
a total of about 350 miles. Incorporated under Act of Legislative Assembly
of Province of Alberta IntFeb. 1909. First mtge. debenture 5s, guaran­
teed by Province of Alberta, arc Issuable at $20,000 per mile, and $400,000
for Edmonton terminals: Standard Trusts Co. of Winnipeg, trustee. Re­
deemable, all or any, beginning Jan. 1 1919 at 112)^. V. 89, p. 1346.
Gen. Mgr., E. A. James, Edmonton, Alberta. W. It. A D. O. Clark,
bankers, Kansas City, have promoted the enterprise.— (V. 89, p. 1346.)
ALLEGHENY VALLEY RY.— Owns from Pittsburgh to OH City, Pa.,
132 miles; Red Bank, Pa., Co Driftwood, 110 m.; others, 22 miles.
Controlled by Pennsylvania RR.Co.,which on Jan. 1 1909owned $10,335,­
150 of the $10,544,200 com. and $16,911,605 of the $17,174,000 of 3 % cumu­
lative pref. stock. The stockholders of the Penn. R R . voted March 13 1906
to purchase the road, but merger not completed to Dec. 1909. V. 81,
p. 1847; V. 82, p. 159, 459.
BONDS.—General mortgage Is guaranteed by Penn. R R . by endorsement
on each bond. Real estate mortgages Jan. 1 1909, $808,000.
In 1908, gross, $5,618,128; net, $1,249,182; tnt., taxes, Ac., $1,228,578;
bal., sur., $20,604.— (V. 82, p. 159, 626, 691; V. 88, p. 1060.)
ALLENTOVVN RR.— Topton to Kutztown, Pa., 4 m.; Reading system.
STOCK.— $1,268,884 (par $50), Including $1,071,400 pledged under
Reading Co. general mortgage. No bonds.
ALLENTOWN TERMINAL RR.— Owns 3 ^ miles of railroad in Allen­
town, Pa., connecting the East Penn. (Phlla. A Reading) with the Cent, of
N. J. Leased for 999 years to Phlla. A Read, and Cent, of N. J. (by assign­
ment from Lehigh Coal A Navigation Co.) at Interest on bonds and 5 % on
$450,000 stock (par $50). bonds being guaranteed, principal and Interest,
by Phil. A Read. RR. Co. (foreclosed) and Lehigh Coal A Navigation.
ALTON JACKSONVILLE & PEORIA RY.— Projected from Alton to
Jacksonville, ill.. 65 miles, of which Alton to Godfrey, 6 m., operated In
April 1908, and balance under construction. Stock auth., $800,000; out­
standing, $300,000; par $100. Bonds ($800,000 auth. Issue), Mercantile
Trust Co., St. Louis, trustee. See table above. Pres., Aaron O. Auten,
Jerseyvllle, 111.; Tre&s., A. W. Cross; Sec.. June M. Rhoads, Jerseyvtlle, 111.
ALTUS ROSWELL & EL PASO R R — V. 89, p. 1346.
AMADOR CENTRAL RR. — lone to Martell, Cal., 13 miles. Successor
to lone & Eastern, sold In foreclosure Aug. 22 1908. Stock, $400,000;
par, $100. Sinking fund beginning Feb. 1 1913 equal to 2% of outstand­
ing bonds; Union Trust Co., San Francisco, Is mortgage trustee. V. 88,
p. 156. Pres., Charles Erickson; Sec. and Supt., J. A. McPherson, Mar­
tell, Cal.— (V. 88, p. 156.)
ANN ARBOR RR.— (.See Map Detroit Tol. & Ironton.)— Owns road from
Toledo, O., to Frankfort, on Lake Michigan, 292 miles; trackage, Toledo to
Alexis. 9 m.; operates car ferries between Frankfort, Mich., Kewaunee and
Manitowoc, WIs., and Menominee and Manlstlque, Mich. Wabash uses
Toledo terminals.
Manlstlque & Lake Superior, Manlstlque, Mich., to Shlnglcton, 40 miles,
with branch to McNeils, 13 miles, was acquired by friendly Interests In
July 1909. V. 89, p. 468.
ORGANIZATION.— Successor Nov. 1 1895 to Tol. Ann Arbor A Nor.
Mloh., foreclosed. In 1906 the Det. Tol. & Ironton R R . (which see) had
acquired $3,102,400 pref. and $2,190,000 com. stock. See V. 89. 528.
STOCK.— Common, $3,250,000; preferred, $4,000,000; 5% non-cumulatlve; par $ino
Pref. stock cert., ’ Supplement” Oct. 30 1897, p. 3.
EARNINGS.— 5 m o s.,fl9 0 9 ............. ..G ross, $773,892; net, $266,912
July 1 to Nov. 30. \1908__________ Gross, 774,838; net, 213,598
ANNUAL REPORT for 1908-09 was In V. 89, p. 1218.
Year ending June 30—
1908-09.
1907-08.
Inc. or Dec
Gross earnings..............................$1,708,481
$1,882,782 — $174,301
Net after taxes____ ________________ $390,450
$370,760
+$19,690
Net Income..............
$491,938
$468,880
+$23,058
Deduct— Interest, hire of equip., &c.
469,694
408,483
+61,211
Betterments__________________
4,153
5,012
— 859
Balance, surplus_____________
$18,091
$55,385
— $37,294
New directors Sept. 1908, V. 87, p. 544. Pres., Eugene ZImmermann;
Sec., G. Caspar Niles.— (V. 89, p. 410, 468, 528, 777, 1068, 1218.)
ARGENTINE CENTRAL RY.— See page 172.
ARKANSAS LOUISIANA & GULF RY.—To extend from Monroe, La ,
at a connection with the St. Louis Iron Mountain A Southern and Vicksburg
Shreveport A Pacific to Pine Bluff. Ark.. 136 miles, with branch. 7 miles;
total, 143 miles. Of this, Monroe to Hamburg, La., and Crossett, Ark.,
61 Yi miles, was operated Sept. 1909. Extension from Pine Bluff to De
Vails Blufls Is proposed. Stock auth., $3,000,000; outstanding Sept. 1909,
$1,240,000. Bonds ($6,000,000 auth. Issue). Colorado Title A Trust Co.
of Colorado Springs, CoL, trustee; $2,860,000 were subscribed for on ac­
count of 143 miles under construction. V. 86, p. 106. Pres., Alfred
Cowles, Chicago; V.-P. and Treas., Wm. A. Otis; Sec. and Asst. Treas.,
C E. Titus, Colorado Springs, CoL— (V. 86, p. 106.)
ARKANSAS A llDLAND RR.— See page 172.
ARKANSAS OKLAHOMA & WESTERN RR.— To extend from Eureka
Springs, Ark., at a connection with the Missouri <5j North Arkansas, wes
terly to Pryor Creek, Okla., 125 miles, of which Rogers to SUoam Springs
Ark. 30 miles, In operation In Sept. 1908. Stock auth., $3,000,000; out




Rate
%

[VOL. LXXXX,

standing Feb. 1909, $720,000; par, $100. Bonds are limited to $1,250,­
000 at $10,000 per mile. V. 86, p. 107. Pres., J. D. Locke, St. Louis, Mo.
Office, Rogers, Ark.— (V. 90, p. 235.)
ASHEVILLE & SPARTANBURG RR.—See Southern R y., Carolina Dlv.
ASTORIA & COLUA1BIA RIVER RR.— Goble to Seaside, Ore., 79 m.;
branch,Warrenton to New Astoria, 2 m.; trackage, Goblo to Portland, 40 m.;
total, 121 miles. Stock, $1,619,000; par $100. In 1907 acquired by Great
Northern and Northern Pacific. V. 84, p. 867. Year ending June 30 1907,
gross, $617,105; net. $253,175; other Income, $4,985; charges, $ 188,548;
balance, surplus, $69,612. Pres.. George B. French.— (V. 85, n. 1645.)
ATCHISON & EASTERN BRIDGE.—Owns rullroad and wagon bridge
at Atchison, Kan., connecting with the union station. Used by the Aten.
Top. A Santa Fe, the Chic. R. I. * P., the Mo. Pac. and the Chic. Burl. &
Quincy. A reorganization of the Chic. A. \tch Bridge Co. foreclosed Meh. 4
1898, per plan V. 65, p. 366. Stock, $700,000: par, $100 per share. Pres,
and Treas., H. P. Eells, Cleveland, O.— (V. 67, p. 578.)
(THE) ATCHISON TOPEKA & SANTA FE RY.— (See M ap.)— 'The sys­
tem operated July 1 1909 comprised 9,887.36 miles of railroad and embraced
an unbroken line of track from Chicago, 111. via Kansas City, Mo., and Al­
buquerque, N. M.. to the Pacific Ocean aisc to Galveston, Tex., and the
Gulf of Mexico. For operating purposes the 9,887 m. are divided as follows:
Miles.
Miles.
54.27
Atchison Topeka A S. F___ 7,438.30 Pecos River R R ___________
20.17 Santa Fe Pres. A P hoenix.. 257.40
Rio Grande & El Paso______
Gulf Colorado A Santa F e . . 1,518.18 Southern Kan. Ry. of Texas 125.07
94.86
Eastern Ry. of New Mexico. 227.29 Texas A Gulf R y __________
Pecos A Nor. Texas R y ___ 151.82
This is exclusive of 6.84 miles of new lines completed on last-named date.
Also controls through ownership of securities,or owns jointly with other
roads, 734.06 miles.
Cut-off Texlco, N. M., to Brownwood, Tex., 300 miles, with branches,
total about 500 miles, under construction. V. 89, p. 223.
In 1900 acquired control of Gulf Beaumont A Kansas City and Gulf Beau­
mont A Great Northern, which are leased. V. 76, p. 751; V. 77, p. 1224.
Leases Cane Belt R R ., 105 miles (entire stock owned) for 50 years from
July 1905. V. 85, p. 598.
ORGANIZATION.— This company was organized on Dec. 12 1895 under
the general laws of Kansas by the purchasers at foreclosure sale of the
property and franchises of the Atch. Top. A S. Fe R R . Co. V. 60, p. 658.
The railway company In July 1909 owned In fee 6,693.14 miles of system,
and also all, or nearly all, the bonds and stocks of the various companies In
which the title to the other lines Is vested. V. 68, p. 974. A list of such
holdings Is In the general mortgage (In V. 62, p. 732, 733) and successive
annual reports. See V. 69, p. 1300; V. 71, p.27.
San Francisco A San Joaquin Valley Ry. was merged June 1901.
Has a Joint Interest with the Southern Pacific in the Northwestern Pacific
R R .. Incorporated Dec. 31 1906 as a consolidation (see that company).
STOCK.— The pref. stock has preference as to assets and non-cumulatlve
dividends not exceeding 5 % per ann., as declared by the board of directors
out of net profits
No other mtge. and no Increase In the pref. stock can bo
made without consent of majority of all pref. outstanding and of all com.
stock represented at a meeting. The total auth. amount of pref. Is $131,
486,000, of which $10,800,000 reserved to acquire other lines; also $6,486,­
470 In special trust for Improvements, extensions, Ac. Pref. stock certs. In
"Supplement” of April 1897, p. 3. In July 1909 Un. P ac.sold $10,000,000
pref. stock purchased In 1906. V. 84, p. 50, 569; V. 89, p. 223.
Stockholders voted Jan. 30 1907 to Increase the auth. com. stock from
$152,000,000 to $250,000,000 and also not exceeding $98,000^000 bonds, to
be convertible Into com. stock. V. 88, p. 1001. See BONDS below.
DIVIDEND—
'99. '00. ’01. ’02-’05.‘ '06. '07. ’08. '09. 1910.
0 3 ^ 4 y ’ly. \Yt 0
o ot^M ch., 1H
On common___________ 0
On preferred__________ 2J£
4 5
5 y ’ly. 5
o
*>
5 Feb., 2 H
In 1910, on common, March, 1J4% (quar.).
BONDS.—The Gen. Mort. (Abstract V. 62, p. 731-739; seei also V. 68.
p. 974; V. 86, p. 1098) gives a Hen, either by direct mortgage or by collateral
trust, on 8,338.44 m. of the system, together with all the equipment and
terminals owned by the company, and future acquisitions.
Qeneral mortgage 4s (limited to $165,490,500).
-—
— -—
a To retire guar, fund notes paid and car trusts at in 1895.
In 1909.
not excecdlng$l ,250 for eacn $ 1,000 of old bonds. $ 15,500,000 $2,339,38$
b Non-assenting bonds from reorganization of 1889. 1,500,000
504,960
c Chicago A St. Louis 1st mtge. 6s...........................
1,500,000 1,500,090
For Improvements, terminals, second track, Ac— 30,000,000 1.852,102
For acquisition of Atlantic A Pacific and other lines 20,009,000 6,731,554
The Adjustment Mortgage (Abstract. V. 62, p. 739) Is to the Central Trust
Co. as trustee. Interest Is payable only out of net earnings up to 4 % In each
year, cumulative since July 1 1900. Present Issue Is limited to $51,728,000,
but when the $30,000,000 general 4s authorized for Improvements as above
have been Issued, $20,000,000 additional adjustment 4s may be Issued for
the same purpose at not exceeding $2,000,000 In any one year, but only by
a majority vote of the adjustment bondholders. Interest— In Nov. 1897
, ,
paid 3 %; since, full 4 % yearly
„ __
Eastern Oklahoma division 4s of 1903. V. 76, p. 434; V. 79, p. 1331;
V . 84. p. 1549; V. 85. p. 5<ia. V. 86, n. 980, 1041.
The Trans-Continental Short Line” first gold 4s of 1908 are limited
to $30,000,000 authorized Issue. The $17,000,000 sold In July 1908
cover 694.46 miles In operation, comprising the line from Amarillo, Tex.,
to Pecos, Tex., 376.06 miles. Clovis, N. M., to Rio Puerco, 257.52 miles,
(completed In 1908); the Pecos Valley A Northeastern, Cameo, N. M., to
State Line, 208 m., and branches aggregating 60.88 m. The remaining
$13,000,000 can be Issued at $25,000 per mile. V. 87, p. 479, 878.
The $30,000,000 debenture 4s of 1902 are paid oft $2,500,000 yearly.
No new mortgage on lines owned when the debentures were Issued can
be made without securing debentures thereunder. See statement, V. 74,
p. 150, 204; also V. 75, p. 680. The debentures are paid from cash In tho
treasury and not Included In the Income account. V. 77, p. 2338.




14

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, tfee., see notes on first page]

Miles Date
Road Bonds

Par
Value

VoL. LXXXX.

Amount
Rate
When
Last Dividend Places Where Interest and
Outstanding
Payable and Maturity
%
Dividends are Payable
Atlanta Knoxville & Northern Ry—See Louisville & N ashvll le
Atlanta & St Andrews Bay— 1st M $1,000,000 g red
85 1908
$1,000
$425,000
A & O Oct 1 1938
6g
New York and Atlanta
2d M ($1,000,000 a u th )...............................................
85 1908
425,000
5
Atlanta Terminal— First mtge $1 ,8(10.000 gold_S.c*&i
3.3 1903
1,000
1,500,000
4 g J Se D June 1 1953
Standard Trust Co, N Y
Atlanta & West Point— Stock $2,500,000 auth___
86 ___
100 See t xt 6 In 1909 J Se .1 Jan 1 19 10 3% Atlanta Ga
Debenture certificates to be retired_______ _______
__ 1881
1,000
1,232,200
6
J & J Company’s opt
do
Atlantic City— First Mtge $2,200,000 gold_.QuP.xc*
83 1889
1,000
2,200,000
M Se N May 1 1919
5g
Reading Terminal, Phlla
Atlantic City purchase money real estate mtge._QP
- - . 1900
75,000
1 000
A Se O Apr 1 1930
4H
do
do
Sea Coast prior lien mortgage gold.....................
66 1898
350,000
A Se o Apr 1 1948
5g
do
do
1st cons M $4,500,000 g gu................................. QP
All
1901
1,000
1,850,000
4 g J Sc J July 1 1951
do
do
Atlantic Coast Line Co, (Conn.)— Stock $30,000,000-.
__ ___
100 S e ; text. See text.
— M Dec 10 19092 H Baltimore
Certs of lndebt Inc non-cum $6,000,000.
SBa.r
__ 1897
100 Sec 5,000,000
5 cur J Se D Irredeemable
In 1909 paid 5%
do
do
red 105 after 20 yrs optlo l text SBa
__ 1900
100 &c 5,000,000
4
J Se J Jan 1 1910 2 7, In 1909 paid 4%
do
do
redeemable at par after 5 years____
—
1905
100 Sec 3,000,000
4
J Se J Jan 1 1925
In 1909 paid 4%
Atlantic Coast Line RR—Stock common (text)..........
___
100 47,537,600 See text J Se J Jan 10 1910 3 Treas Office, Wllm, N C
Class " A ” com stock tax exempt (Rich Se Pet certs)
__ ___
100
1,000.000 See text J Sc .1 Jan 10 1910 3
Preferred stock 5 % ______________________________
__ ___
100
1.596,600 5 In 1909 M Se N Nov 10 1909 2 b
Coll tr M gold secured by L & N stk red 105” c*&r
- - . 1902 1.000 Sec 35.000.000
4g
.\1 Se N Oct 1 1952
•J P Morgan Se Co, N Y
Unified mortgage gold $200,000,000 authorized___
1909
See text
4 g J Se I) Dec 1 1959
Conv debs $23,562,500 red 105 after May ’ 16-SBar
__ 1909
100 &c See text
4
M Sc. N Nov 1 1939
Notes $5,000,000 g cash deposited to redeem notes.
. . . 1907 1.000 Sec 2.240,000
5 tr M Se S Mch 1 1910
United States Tr Co. N Y
Winston-Salem Southbound 1st mortgage gold___
See text
Equip trust Ponds gold $225,000 d u e s-a ___ SBa c*
1907
1,000
3.375,000
M Se s To Mch 1 191'
4
g
do
do and Balt
-Bonds to Be Refunded, by Unified 4s
First consol mtge $80,000,000 gold (text)-F.c*&r* 3.947 1902 1,000 &c 50,468.000
M Sc s July 1 1952
United States Tr Co, N Y
4
g
1st M Jack&Sow$2,000,000g(V 81,p 1559)-SBa.c*
;63 1904
1,000
1,833.000
4 g .1 Sc D Dec 1 1054
Safe Dep & Trust Co,Balt
Certificates of Indebtedness (new) $25.000,000____
1902
100 &c 21,566,600
4
M Sc N Irredeemable
Treas Office, Wllm, N C
North East (S C) cons M gold Flor to Charleston.. c
1(JJ 1883
1,000
6 g .1 Sc .1 Jan 1 1933
657,000
Cuyler, Morgan Sc Co,NY
Wll C & Aug 1st M (cash reserved to redeem bonds)
1880
1,000
1,600,000
6
J Sc D Junel 1910
First Nat Bk. NY; & Balt
Atlantic C L of S C gen 1st M (1st on 355 m)g_ S Bac*
696 1898
1,000
5.547,000
4 g J Se J July 1 1948
Safe
Dep Sc Trust Co,Balt
Petersburg M class A g o ld _________________ ______
68 1881
1,000
868,000
J
S
c
J
July
1
1926
5
g
Richmond Office
do
do
class 1) gold (Petersburg to W eldon).
1881
1,000
800,000
6g
A Sc O Oct 1 1926
Richmond Se Petersburg first mtge ($24,500 are 7s).
22 1875
500 Sec
340,500 6 Sc 7 M Sc N May 1 1915
Consol M g (Richmond to Petersburg, etc)___ Ce.c*
27 1890
1,000
300,000
4 ^ g A Se O Apr 1 1940
nrown Brothers, N Y
Wllm Sc Weldon gen M ($938,000 are 4s) g.-S B a.c*
479 1885
1,000
4.000,000 4 g Sc 5 g .1 Se J July 1 1935
First Nat Bk, NY; Se Balt
Wilmington & New Bern 1st M gold assumed.SBa
90 1897
1,000
106,000
F Se A Aug 1 1947
4g
Safe
Dep A; Trust Co.Balt
Nor & Car 1st M gold (P Pt Va to Tar N C). . .Ce.c*
110 1889
1,000
1,320,000
A Se O Apr 1 1939
Central Trust Co, N Y
s g
Second mortgage gold.................................SBa.c*
110 1896
1,000
400 ,000
Safe Dep & Trust Co,Balt
5 g J Se J Jan 1 1946
Sav Fla & W 1st M g ($2,444,000 are 5s)..,Mp.c*&r
547 1884
1,000
6.500,000 5 g Se 6 p A Se () Apr 1 1934
United States Tr Co, N Y
Charleston & Savannah gen mtge gold_____SBa.c*
111 1886
1,000
1,500,000
7 g J Se J Jan 1 1936
Bruns& W 1st M (Brunswlrk to Albany) g gu.Mp.o
169 1888
500 &c
4e
1.407,000
J Se J Jan 1 1938
do
do
The 4s of 1905 ($50,000,000 authorized Issue) are convertible at par be­
The collateral trust 5% notes ($8,000,000) sold In May 1906 are a Joint
tween June 1 1006 and June 1 1918, and may be called at 110 on any Interest obligation of the railroad and the Atlantic Se Birmingham Construction Co.
day, but when called may be converted Into stock provided the time for con­ I hey are secured by deposit of $5,006,000 Atlanta Birmingham Se Atlantic
version has not expired. No new mtge. on lines owned Jan. 1 1905 shall first mortgage bonds and $5,600,000 preferred and $17,000,000 common
be made without securing the convertible bonds thereunder. V. 79. n. stock, and $1,026,000 equipment notes of the railroad, entire stock ($5,000,­
2695; V. 80. u. 641); V. 81, p. 1174; V. 82, p. 391.867.
000) of Birmingham Coal Se Iron Co., owning 35,000 acres of coal and 3,600
Stockholders on Jan. 30 1907 authorized $98,000,000 of convertible acres of Iron ore lands (subject to $4,159,000 bonds), and the $1,100,000
bonds. The $26,056,000 Issued In 1907 are convertible Into com. stock at stock and $1,000,000 bonds of Brunswick SS. Co. V. 82, p. 1267; V. 83,
par to June 1 1913 and may be called at 110 on any Int. day. but when called P-35, 1290; V. 84, p . 270: V. 85, p. 1404: V. 88, p. 451, 503. Equipment
may be converted Into stock,provided thetlme for conversion has not ex­ obligations July 1 1909 other than In table above, $170,000 5s, maturing
pired. No new mtge. on lines owned Jan. 1 1907 shall be made without se­ $10,000 quarterly (Q.-M.) to March 1 1914.
curing the 5s of 1907 thereunder. V. 84. p. 1051, 1112; V.85. p.97. 283,529.
The controlled companies, the Georgia Terminal Co., Alabama Terminal
Stockholders were olfered In 1909 the right to subscribe for $28,258,000 R R ., Birmingham Coal Sc Iron Co. and Brunswick SS. Co. were placed In
convertible 4 % bonds at 104, payable one-fourth each at time of subscrip­ receivers’ hands In Feb. 1909, their bonded debts being respectively
tion, between Feb. 2 and Feb. 4, between Aug. 2 and 4 1910, and between $3,000,000, $2,445,000, $4,159,000 (Including $2,000,000 of Birmingham
Feb. 7 and Feb. 9 1911; they are convertible into common stock at par to Iron Co.) and $1,000,000. V. 84, p. 1427, 1551; V. 85, p. 470; V. 88,
June 1 1918 and may be called at 110 on any Interest day, but when called p. 156, 451, 503, 563.
may be converted Into stock provided the time for conversion has not ex­
LATEST EARNINGS.11909------------ Gross, $1,071,871; net, $268,039
pired. No new mtge. on lines owned Jan. 1 1905 shall be made without
806,570; net, 220,160
securing the convertible bonds thereunder. In Sept. 1909 $25,297,000 had 5 mos., July 1 to Nov. 30.J1908------------ Gross,
For year ending June 30 1909, gross, $2,069,809, against $1,583,804 In
been paid for In full. V. 88, p. 1435, 1559.
1907-08; net, $357,026, against $393,517.
Divisional Bonds, in Addition to Those in Table Above, Outstanding Dec ’ 09.
REPORT for year ending June 30 1908 In V. 87, p. 1291, showed on 491
Name of issue.
Date. Interest. Outstanding. Maturity
Gulf Beau & 1CC 1st M gold........... 1893 6 g F-A $613,000 Aug 1 1913 miles, gross, $1,583,805; net, $426,663; other Income, $136,689; Interest,
2d M ($138,500 are 6 s ).............. 1893 5 & 6 gF -A 284,500 Aug 1 1913 taxes, &c., $518,714; baL.sur., $44,637. V. 88, p. 227.— (V. 90, p. 235.)
ATLANTA & CHARLOTTE AIR LINE RY,— iSee Map Southern Railway
LATEST EARNINGS.\1909----- Gross, $44,507,765; net, $16,953,259 System.)—
Owns Charlotte, N. C., to Armour, Ga., 263 miles.
5 mos., July to Nov. 30.J1908----- Gross, 39,114,925; net, 14,823,674
The operating contract of 1881 accepted by the Southern Ry. requires the
Balance after taxes and rentals for 5 months of 1909 was $15,454,669, payment
of Interest on At. & C. debt and 5 % on stock; If gross earnings ex­
against $13,545,536 In 1908.
ceed $1.500.000, dividends to be 6 %, and If they exceed $2,500,000, 7 %.
R EPO RT.— Annual meeting fourth Thursday In October. Report for
The $5,500,000 bonds extended to Jan. I 1910 at 4 'A% were purchased
year 1909 was given In V. 89, p. 837, 855; see also page 809.
by the Southern Ry. and placed under Its consol, mortgage. V. 89, p. 1595.
1908-09.
1907-08.
Inc. or Dec.
DIVIDENDS.
11881 t o ’89. 1890. 1891 to Mch.’01 Inch
Since
Average miles operated...............
9,795
9,)15
+360
Percent—
j 5 yearly.
5a
6 yearly (M&S). 7yr!y.(M&S)
Operating revenues.......................... .$94,265,717 $90,617,796 +$3,647,921
EARNINGS.—
For
year
ending
June
30
1909,
gross,
$4,305,174,
Operating expenses.............................$57,495,195 $60,629,915 — $3,134,720 $4,000,262 in 1907-08; net, $1,832,566, against $1,477,990; int. on against
T a x es......................
3,015,219
3,244,596
— 229,377 $247,500; dlvs. (7% ), $119,000; organization exp., $2,500; bal.,bonds,
sur.,
Operating income...............
$33,755,303 $26,743,285 +$7,012,018 $1,463,566. Pres., C. S. Fairchild, N. Y .— (V. 89, p. 1595.)
Other Income...................................... 1,158,375
671,974
+486,401
ATLANTA & ST. ANDREWS BAY R Y.— Owns from Dothan, Ala., to
Panama City, Fla., on St. Andrews Bay, Gulf of Mexico, 85 miles: opened
Total incom e-.................
$34,913,678 $27,415,259 + $7,498,419 July 15 1908. Stock authorized, $1,000,000; outstanding $300,000; par,
Interest on bonds________________ $13,548,082 $12,579,302
+ $968,780 $100. The first 6s (Central Trust & Banking Corporation of Atlanta, Ga.,
Hire of equipment, rentals, &c____ 1.105,835
1,238,449
— 132,614 trustee) are subject to call at par beginning Oct. 1 1911. V. 88, p. 685;
Dividends on pref. stock (5 % )____ 5,708,690
5,708,690
V. 83, p. 270. For 6 months ending Dec. 31 1908, gross, $51,454: net,
Dividends on common stock___ (5 % )5,152,550(51^)5,662,607 " "—510,057 $16,185; Interest on bonds, $12,750; bal., sur., $3,535. Pres., A. B.
Additions and betterments_______
9,000,000
340,332
+ 8,659,668 Steele, Atlanta, Ga.; Sec., G. H. Purvis, Dothan. Ala. (V. 88. p. 685.)
ATLANTA TERMINAL CO.— Owns union passenger station opened
Balance, surplus...............................
$398,521 $1,885,879
—$1,487,358 May 14 1905. with approaches, used by Southern R y., Central of Georgia
Ry. and Atlanta Sc West Point R R . Stock, $150,000, owned In equal pro­
Old Basis—
1906-07.
1905-06.
1904-05.
1903-04.
Average miles operated.
9,273
8,434
8,305
8 180 portions by the three companies named, which pay all charges and ex­
Gross earnings.................$93,683,407 $78,044,347 $68,375,837 $68,1711200 penses on car basis. V. 76, p. 593, 1394; V. 77, p. 699; V. 88, p. 1196.
OFFICERS.— Act'ng Chairman of Exec. Com., Walker D. Illnes; E.
ATLANTA & WEST POINT RR.—Atlanta, Ga., to West Point, Ga.,
P. Ripley. President; D. L. Gallup, Comp.; C. K. Cooper. Asst. Treas.
86 miles. Georgia RR. Mch 31 1908 owned $547,200 stock and $388,900
Directors.— Charles Steele, Edward J. Bcrwlnd, Paul Morton, II. Rle- deb. cert. A belt line around Atlanta,
miles. Is operated at rental of
man Duval, Thomas P. Fowler, Walker D. Hines, T. Do Witt Cuyler, N. Y.; $16,000 yearly— 4% on Its cost. V. 71, P. 963 V. 73, p. 1354.
John G. McCullough, Vermont; B. P. Cheney, Boston; Edward P. Ripley,
The stockholders voted on Jan. 20 1910 to Increase the stock from $1,232,­
Byron L. Smith, Chicago; Andrew C. Jobes, Wichita; Howel Jtnes, Charles 000 to $2,500,000, the new stock to be olfered to stockholders at par to retire
S. Gleed, Topeka; H. C. Frick, Pittsburgh.
the $1,’232,000 6% debenture certificates. V. 89, p. 1595.
OFFICE.— 5 Nassau St., N. Y .— (V. 89, p. 720, 837, 855, 017, 1222.)
DIVIDENDS begun In 1855 were for many years 8% per annum. From
July
1 1884 to July 1901 Inclusive. 6 % yearly, J & J: Oct 1 1899, 25 %extra;
ATLANTA BIRMINGHAM & ATLANTIC RR.— Brunswick, Ga., to
Birmingham, Ala., 447 m ., including 19 m. temporary trackage Into Bir­ 1902 (?); 1903, 6% ; 1904 to 1909, 6% yearly; 1910, Jan., 3% .
In 1907-08, gross, $1,151,791; net, $235,386; other Income. $44,631;
mingham; Sessoms to Waycross, Ga., 26 m.; Fitzgerald to Thomasvllle,
Ga., 81 m.; Atlanta to Manchester, 75 m.; Pyriton to Ashland, 7 m.; leases charges, $160,652; dlvs., $73,932; surp., $45,433.— (V, 90, p. 235.)
Georgia Terminal Co. In Atlanta, 2 m.; trackage in Altanta, 2 m.; total,
ATLANTIC CITY RR.— Camden to Atlantic City, 57 m. (double track
641 m. (V. 84, p. 1426; V. 80, p. 115.)
branches, Winslow Junction to Cape May, N. J., 55 m.; Wllllamstown. 23
The Georgia Terminal Co. and the Alabama Terminal R R ., having m.; Gloucester, 12 m.; Sea Isle City, 12 m.; Ocean City, 10 m .; total. 168 m.
$1,500,000 and $3,000,000 stock, respectively, all owned by the railroad V. 72, p. 1278. STOCK, com.. $2,625,000; pref., $1,000,000 (par, $50).
company, were organized to provide terminals at Atlanta and Birmingham, Reading Co. owns over 99% of stock, and guarantees consol 4s. principal
respectively: they are leased for 99 years from July 31 1907, their bonds and Interest. Form of guaranty, V. 75, p. 1398. Of the latter, $2,650,000
being guaranteed, prln. Se Int., also 2 14% on stock; V. 84, p. 1426; V. 85, are reserved to retire prior lien bonds. See V. 73. p. 81. There are also
p. 1204; V. 88, p. 156, 227. Brunswick SS. Co. operates between New outstanding $23,500 Sea Coast R R . series A 5s and $2,834 series B 5»
York and Brunswick. V. 87, p. 616.
EARNINGS.— 5 m os.,(1908-00________ Gross, $988,925; net, $342,289
RECEIVERSHIP.— On Jan. 2 1909 receivers were appointed, the Jan.
July 1 to Nov. 30. \1907-08.............G ross, 852,607; net, 282,849
1909 coupon on the first 5s of 1906 being defaulted. V. 88, p. 99, 156—see
For year ending June 30 1909, gross, $1,626,055; net, $346,250. In
table above. The receivers are now President H. M. Atkinson and S. F. 1907-08, gross, $1,700,800; net, $269,564.— (V. 82, p. 750.)
Parrott. V. 88, p. 821. See President’s report of Jan. 5 1909, with opin­
ATLANTIC COAST LINE CO-—Organized May 29 1889 under
ions of experts, &c. V. 88, p. 227. $3,250,000 2-year 6% receivers’ cer­
tificates were sold to replace 19-mlle trackage into Birmingham and build the laws of Connecticut, and owns a majority of capital stock and a
Bessemer branch, &c. V. 88, p. 1497, 1559; V. 89, p. 40, 102, 223, The large amount of the bonds of the Atlantic Coast Line R R . below.
STOCK, &C.— Stockholders were to vote Jan. 26 1910 on Issuing $5,040,­
coupons due May and Nov. 1909 on the joint coll, notes were purchased by
private parties; Nov. 1908 coupons were paid by the co. V. 88, p. U96. 000 additional stock, to be olfered prorata to stockholders at par, payable
General Committee.— A general committee, consisting of Edwin S. Marston Feb. 15, the proceeds to be used cnlolly to purchase at 97 >3 and interest
(Chairman), Frederick Ayer, Samuel Carr and John I. Waterbury, requested any of the $5,000,000 4% " B ” certificates of Indebtedness presented to
deposits of all securities and unsecured debt of company and allied proper­ Feb. 15 1910. This will Increase the stock outstanding to $17,640,000.
ties, Including Fitzgerald Ocllla Sc Broxton RR. The committee was In V. 89, p. 1666.
As to the certificates of Indebtedness, sec editorial Oct. 1897, Sup­
Jan. 1910 preparing a reorganization plan. Depositaries, Manhattan Trust
plement, p. 3; V. 65. p. 564; V. 71, p. 1310. In 1898 $5,000,000 stock was
Co., N. Y., and Old Col. Trust Co., Boston. V. 88, p. 1196; V. 90, p. 235.
Committee for First 5s.— A protective committee consisting of S. H. Fes­ distributed as a 100% dividend (V. 67, p. 954), and In 1900 $10,000,000 4 %
senden, Philip Stockton and F. H. Farrar In Jan. 1909 requested deposits certificates of Indebtedness (Including $2,500,000 of Atlantic Coast Line
IIR. Co.), as a 100% dividend. (V. 71, p. 697; V. 73, p. 493.) As to
of first 5s; City Trust Co. of Boston, depositary. V. 88, p. 99, 157, 684.
Committee for Joint Collateral Notes and First 5s.— Geo. C. Clark, Chair­ securities pledged to secure equally the certificates of Indebtedness, see V.
man; Geo. C. Clark Jr., Sec.; Trust Co. of America, N. Y ., and American 17, p. 1310; V. 83, p. 560. Bal. sheet 1909. V. 89, p. 1067.
Trust Co., Boston, depositaries. V. 88, p. 623, 685, 943.
CASH DIVS.l ’99. ’00. ’01. '02. ’03. ’04. ’05. ’06. ’07. ’08.
1909.
STOCK.— Par of shares, $100;' Issued: common, $25,000,000; pre­ Per cent------/ 4H 5
4H 6H 8
8
9
10 10 8 2 ,2 ,2 H ,2 H
ferred, $10,000,000. Of these $17,000,000 common and $5,600,000 pre­
Chairman, Henry Walters.— (V. 87, p. 1083; V. 89, p. 1067.)
ferred deposited under collateral trust notes.
ATLANTIC COAST LINE RR.— (See Map.)— Operates from Richmond
BONDS.— Of the 5s of 1906 ($30,000,000 authorized Issue), $14,443,000 and Norfolk, Va.. on the north, to Fort Myers, Port Tampa and River J et.,
have been Issued, of which $5,006,000 Is deposited under coll, trust notes.
Fla., on the south, and Montgomery. Ala., and Augusta, Ga.. on the west,




RAILWAY STOCKS AND BONDS.



16

RAILWAY STOCKS AND BONDS,

RAILROAD COM PANIES
[For abbreviations, & c., see notes on first page]
Atl Coast L RR (Concl) —
Alabama Midland 1st M g (Dalnb to M ontg)--M p.xc
Florida So 1st M g old _____________ _________AB.o*
Sanford A St Petersburg first mtge gold-----------PeP
Ashley River first mortgage______________________
Sll Sp O & G 1st M gold (Ocala to Inv & br)--T a.c*
Atlantic & Danville— 1st M $4,425,000 g Int rent.Mec*
Second mort $1,525,000 gold Interest rental-.Ta c*
Atlantic & North Carolina— Stock $1,800,000----------First mortgage $325,000----------------- ------------- MeBa
Atlantic & St Lawrence— Stock 6% rental Grand Tr’k
Atlantic & Western— First mtge $3,000,000 g o ld ..IB
Augusta St Savannah— Stock 5 % rental Central of Ga
Augusta Southern— First consol mtge gold----- Ce.xc
Augusta Union Station— First M $250,000 gold__ SB
Avon Geneseo & Mt Morris RR— Stock (see text)___
Bald Eagle Valley— See Pennsylvania R R ...................
Balt & Annap Short Line— See‘‘ ElectrIcRallway” Sec.
Baltimore Chesapeake & Atlantic— 1st M gold-.M p.c*
Balt & Cumberland Val Ry— 1st M Interest rental____
Balt & Cumberland Val RR— 1st M Interest rental___
B & C V RR Exten— Stock gu ($270,000 carries 7% )
First mortgage Interest rental___________ _____ Ba
Baltimore & Harrisburg RR— Mortgage gold.MeBa.c*
First M West Ext ($10,000 pm ) gold guar.MeBa.c*
Baltimore & Ohio— Common stock $152,750,000_____
Pref stock 4 % non-cum authorized $60,000,000____
Prior Hen mtge gold not subject to call___ Me.c*Ar
First M gold redeem at 105 after 1923___ Us c*Ar
Southwestern Dlv 1st M $45,000,000 gold__ F.cA*r
Pitts June A Mid Dlv ($20,000,000) 1st M g.Ce.c*Ar
P LE & W V Sysref g red 100 after 1925..U n c*A r
New York DlvA Term first mtge $10,000,000 gold.
Conv debentures gold redeem (see te x t)----------------Bonds Underlying First Mortgage 3 H %
Loan 1853 extended In 1885 gold_________________
Pittsburgh & Con 1st M extended In 1896 In gold__
Cent Ohio $2,500,000 con 1st M (1st loan) g-MeBa.c
*In addition $7,635,050 pledged as part collat. for

Miles Date
Road Bonds
174
244
145
4
64
275
275
__
95
167
10
53
82>4
—

27 1881
32 1886
15 1888

377

Amount
Rate
Outstanding '
%

1888
$1,000 $2,800,000
5g
1895
1,000
2,418,000
4g
1894
1,000
275,000
4g
1877
8
33,500
1888
1,000
492,000
4g
1900
1,000
3,925,000
4g
1904
1,000
1,525.000
4g
____
100
1,797,200 See text
6
1887
1,000
325.000
____ £ A $100
5,484,000
6
1903 1,000 Ac
5g
2,000
__
5
100
1,022,900
1894
400,000
1,000
5g
1903 1,000 Ac
225,000
4 g
225,000
100
—
3X

88 1894
3 1879
5 1879

1,076
1,657
930
384
1,642
...
...

Par
Value

1898
1898
1899
1898
1901
1005
1901

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are lJayable

M A N Nov 1 1928
J A J Jan 1 1945
J A J Jan 1 1924
J A J Jan 1 1915
J A J July 1 1918
J A J July 1 1948
J A J July 1 1948
Seml-an Jan 15 ’ 10
J A J July 1 1917
M A S Sept 1909
J A J Jan 1 1944
J & J Jan 6 1910
J A 1) Dec 1 1924
J A J July 1 1953
J A J Jan 1 1910

M A
1,250,000
5g
48,500
6
J A
72 800
6
J A
390,600 5 A 7 J A
230,000
6
J A
M A
690,000
5g
240,000
M A
5g
152,206,800 6 In 1909 M A
60,000,000 4 In 1909 M A
74,990.025
5)4 g J A
74,997.375
A A
4g
44,996,000
3)4 g J A
*6,175,480
3>S g
Z
M A
43,260.000
4g
See text
4g J A
1,000
M A
139,000
4 g

1,000
500
100 Ac
50
1,000
1,000
1,000
100
100
500 Ac
500 Ac
500 Ac
500 Ac
1,000

1853
500 Ac
112,500
4g
1868
1,000
58,000
4g
144 1886
1,000
1.009,000
4H g
Pitts. L. E. A W. Va . Sys. 4s. z Coups.

[VOL. LXXXX,

A
J
M
M.

lh
3 7.
2h
IN

Metropolitan Tr Co. N Y
United States Tr Co, N Y
do
do
People’s Bk, Chast’n.SC
United States Tr Co, N Y
Mercantile Trust Co, N Y
Trust Co of America, N Y
Check from Co’s Office
Nat Mechanics’ Bk, Balt
London and Portland
International Tr Co, Bost
Savannah, Ga
J P Morgan A Co. N Y
Safe Dep A Trust Co,Balt
Erie Railroad, New York

S Sep 1 1934
Broad St Station, Phlla
J July 1 1929
Farm A Mech Bank, Balti
do
do
J July 1 1929
J Jan 1 1910
do
do
J July 1 1931
do
do
N Nov 1 1936
do
do
N May 1 1938
do
do
S Mar 11910 3 7 Co’s Office, 2 WallSt.NY
S Mar 1 1910 2 7
do
do
do
do
J1I July 1 1925
Oil July 1 1948
do
do
do
do
Jii July 1 1925
Nov 1 1925
do
do
N Nov 1 1941
do
do
D June 1 1948
do
do
do
do
S Mch 1 1911

A O Oct 1 1935
A J July 1 1946
A S Sept 1 1930
A N.; reg. Int. Q .-F.

do
do
do
do
do
do
1i Reg. Int. Q.-J.

1908-09.
1907-08.
1906-07.
reaching the ports of Norfolk, Va.; Wilmington, N. C.; Charleston. S. C.;
Gross receipts.......................................$26,144,065 $26,029,052 $26,771,528
Savannah and Brunswick, Ga., and Jacksonville and Port Tampa. Fla.
Operating
expenses
and
taxes_______
18,062,899
20,043,794
20,442,027
Lines owned, &c.— (Con.)— Miles.
Lines owned and trackage— Miles.
Paola Jet. near Sanford to St.
Richmond, Va., to Port Tampa,
Net receipts from traffic...................$8,081,166
$5,985,258 $6,329,501
Petersburg, Fla_____________ 145
F la ................................................906
1,463,376'
837,428
Palatka, Fla., to Brooksvllle.. 145 Other Income.................. ...................... 1.215.765
Norfolk, Va., to South Rocky
(6)1836000
M ou n t_______________________ 115 MUldale, Fla., to P erry_______ 163 Dividend on L. A N. stock.............(5H)1.683,000(5^)1083000
Branches,
A
c_________________
1,516
Contentnca to Wilmington______105
Total net receipts................._......... $10,970,931 $9,131,634 $9,002,929
Wilmington. N. C., to Pee Dee
Leased—
Interest on bonded debt. A c...............$5,430.828
$5,359,313 $5,022,208
Ju nction____________________ 97 Central R R . of So. Carolina—
Int.
certlllcates of Indebtedness__
862.754
862,754
862,766
Lane to Sumter, S. C_______
40 Hireon
Florence. S. C., to Augusta, G a ..l6 6
of equip, and term rents_______
4^,509
128,420
________
13
Sumter to Columbia______________ 43 Other lines----------------------------Dividend on preferred stock (5 % )__
79,830
79,830
79,830
Yadkin Jet. (Wilmington, N. C.)
Dividend on common stock______(5 H )2.669,568(5^)2669540 (6)2,912,256
Total In earnings----------------4,463
to Sanford------------------------------116
Waycross, Ga., to Folkston, G a .. 34 Closely allied lines (see each co .)—
Balance, surplus............................... $1,879,381
$31,777
$125,869
Jesup, Ga., to Montgomery, A la.354 Louisville A Nashville _____ .6,970
OFFICERS.— Chairman of Board, Henry Walters; P res.,T . M. Emerson;
Brunswick, Ga., to Albany.......... 169 Charleston A Western Carolina. 341
71 1st Vlce-Pres., Alexander Hamilton; 2d Vlce-Pres.. C. S. Gadsden: 3d VlceDupont Jet. to Fort Myers, Fla..349 Northwestern R R . of So. C ar..
Also owns one-sixth Interest In the Richmond-Washington Co. Leases, Pres., J. R. Kenly; Gen. Mgr., VY. N. Royali; Sec., Herbert L. Borden;
Treas., James F. Post.— (V. 89, p. 1481, 1595; V. 90, p.166.)
Jolntlv with the Louisville A Nashville R R .. the Georgia RR.. 571 miles.
In July 1909 agreed with Norf. A West, to build Jointly Winston-Salem
ATLANTIC & DANVILLE R Y — (See Map Southern Ry.)— West Nor­
Southbound R R .. Winston-Salem, N. C., to Wadesboro, 90 miles, the two folk to Danville Va., 205 miles, three branches, 22 miles; James River Jet
proprietary companies to guarantee an Issue of first mtge. 50-year gold 4s. to Claremont (3-ft. gauge), 50 m.; total, 277 m. Leased to Southern Ry.
V. 89, p. 161, 598;V. 90, p. 238.
from Sept. 1 1899 to July 1 1949 for taxes, repairs, maintenance and cash
sufficient to cover Int. charges, with privilege of renewals for terms of
ORGANIZATION.— Originally the Atlantic Coast Line of Va. (change of rental
99 years. In addition the Southern Ry. agrees to pay the same rate of divi­
name being authorized April 23 1900); April 18 1900 absorbed by consolida­ dends
on
com. stock as paid on Its own com. stock. V .71,p.447; V .79.p.625.
tion (per plan V 70, p. 840,893) the following allied properties: Wilming­
STOCK.— Com., $2,180,000. Pref. shares were canceled prior to July 1
ton A Weldon R R ., Atlantic Coast Line railroads of South Carolina and
Virginia and Norfolk & Carolina R R . The Florida Southern and Sanford & 1904. See V. 71, p. 181,862; V. 73, p. 722, 956; V. 79, p. 625.
St. Petersburg were merged April 1903. V. 76, p. 918, 971. The Atlantic
BONDS.— Of the $4,425,000 4s of 1900, $500,000 can be Issued only for
Coast Line Co. (of Conn.) owns $24,157,000 com. and $1,009,300 pref. stock. Improvements upon request of Southern R y.. Interest charges to be covered
See that co. above. V. 70, p. 893; V. 71, p. 1116, 1310; V. 83, p. 560.
by Increased rental. Of the $1,525,000 second 4s. the remaining $750,000
Savannah Florida & Western Ry. was merged July 1 1902. V. 74, p. were Issued July 1 1909. V. 77, p. 195.— (V. 79, p. 967; V. 89, p. 1410.)
774, 829.
ATLANTIC & LAKE SUPERIOR RY.— V. 89, p. 1595; V. 90, p. 107.
In Oct. 1902 acquired $30,600,000 of the $60,000,000 Louisville & Nash­
ATLANTIC & NORTH CAROLINA RR.— Morehead City to Golds­
ville R R . stock for $10,000,000 cash, $35,000,000 In 4 % collat. tr. bonds
boro, N. C., 95 miles. State of North Carolina owns $1,266,500 of
and $5,000,000 stock. V. 75. p. 733, 792, 905; V. 70. p. 785.
stock. Leased from Sept. 1904 to Jan. 1 1996 to Atlantic A
STOCK.— Atl. Coast Line of Va. class A (Rich. A Pet. ctfs.) tax-exempt $1,797,200
North Carolina Co. (the lease being later transferred to Norfolk A Southern
stock was assumed as so much of the com. stock of the new company.
Stockholders voted Nov. 1909 to Increase the total authorized stock from Ry.) for Interest on bonds, taxes, Ac., and dividends at 3% yearly for
$60,000,000 to $72,100,100, to provide for the conversion of new 4% con­ 20 years. Increasing \4% yearly every ten years until 5% Is reached;
thereafter, 6%; lessee also agreed to expend $250,000 by Sept. 2 1907
vertible debenture bonds. V. 83, p. 490, 1295; V. 89, p. 1141, 1346.
The pref. stock ($18,850,000) was In 1902 mostly exchanged for 125% In for Improvements and equipment. V. 79, p. 967.
DIVIDENDS.— ’93. ’94. '95. '96. ’97. ’98. '99. 1900-04. Under lease.
4% certificates of Indebtedness. V. 75, p. 1252.
P e r c e n t................. 2 2 0 2 2 2 2
0
Sec above.
DIVIDEN DS(%) ’ 00 '01. ’02. ’03. ’04. ’05. '06. ’07. 1908. ’09. 1910.
Pres.,
Frank S. Gannon.— (V. 83, p. 1590. 1522.)
Com. (Incl.Cl.A).
2)4 2)4 5
5
a5 6
6
Below. 5)4 Jan., 3
Preferred_______ 2 J ^ 5
5
5
5
5 5
5
5
5
--------ATLANTIC QUEBEC & WESTERN RY.— V. 89, p. 1410; V. 90, p. 107.
a Also 20 % In com. stock scrip and 5 % In Atlantic Coast Line Co. 4 %
ATLANTIC VALDOSTA & WEST ERN RY.— See Georgia So. A Fla R R .
certlllcates of Indebtedness. V. 81, p. 1558. In Jan. 1908 3'% was paid In
AUGUSTA & SAVANNAH RR — MUlen to Augusta, Ga., 53 miles. In
Atlantic Coast Line RR. 4 ‘% certlllcates of Indebtedness; In July, 2)4%
1895 re leased to Cen.of Ga. for 101 yrs. at 5 % on stock.— (V. 61, p. 239.)
cash; 1909, Jan., 2 H % : July, 3% ; 1910, Jan., 3% .
AUGUSTA SOUTHERN RR.— Owns from Augusta to Tcnnllle, Ga., 82
BONDS.— First consol. 4s of 1902 ($80,000,000 auth., limited to $20 00°
per mile) are a ilrst lien on 1,021 miles of road and a blanket lien on 2,927 miles. The Southern Ry. in Jan. 1901 acquired about four-fifths of stock.
m. owned, subject to the underlying bonds. Issued or reserved as follows: V. 73. p. 343. Com. stock, $400,000; pref., $350,000; par, $100. Year
Issued for refunding. Ac., (of which $2,580,000 In treasury) ...$50,468,450 ending June 30 1909, gross, $178,206; net, $45,846; charges, $35,382;
Reserved to take up underlying Hens............................................ 28,673,250 balance, surplus, $10,464.— (V. 80, p. 2219, 2456.)
R e s e r v e d for e x t e n s i o n s . I m p r o v e m e n t s and e q u i p m e n t . - ----858,300
AUGUSTA UNION STATION CO.— Owns union passenger station at
The stockholders on Nov. 16 1909 (V. 89, p. 1141, 1346) authorized (1) Augusta, Ga., used by all roads entering the c ity , the latter under their op­
an issue of not exceeding $200,000,000 unified mortgage 50-year 4% bonds; erating contract providing for Interest on the bonds and 4 % dividends on
(2) $23,562,500 4% debenture bonds convertible Into com. stock, these last stock. Stock, $75,000 (5 % paid In), held equally by Southern R y ., Atlan­
to provide an alternative method of retiring the $23,562,500 certificates of tic Coast Line R R . and Georgia R R . V. 7 8 , p. 2333; V. 79, p. 500.
Pres,
Indebtedness (of which $21,566,000 were outstanding June 30 1909, the Thos. K. Scott; Sec. and Treas., Carlton Hillyer.— (V. 82, p. 48.)
remainder being reserved to retire pref. shares unexchanged) If the holders
AUSTIN
&
NORTHWESTERN
RR.—
See
Houston
A
Texas
Central
Ry.
elect to exchange for debenture bonds at par prior to March 1 1910; and
AVON GENESEO & MT. MORRIS RR — Mt. Morris to Avon. N. Y ., 18
(3) to Increase the com. stock to an amount sufficient to provide for con­
miles.
Leased
to
Erie
RR.
Feb.
26
1896
In
perpetuity;
rental
(after
1901),
version of the debenture bonds. None of the new bonds, It is understood,
3K % on stock.— (See V. 63, p. 512; V. 62. p 318, 589.)
Is to be sold at present.
Purposes for Which the $200,000,000 Unified 4K s .-Ire Issuable.
BAINBRIDGE NORTHEASTERN RR.—V. 86. p. 720, 980.
To be Issued for Improvements and to retire Jack. A S. W. bonds
BALD EAGLE VALLEY RR.— Merged In Penn. R R . In 1908.
($1,833,000 June 30 1909, of which $1,015,000 In treasury),
$1,000,000 Wil. Col. & Aug. 6s due June 1 1910 and $2,970,­
BALT. & ANNAPOLIS SHORT LINE RR.— Sep “ Electrio Ry. Section.”
000 Atlantic Coast Line R R . notes------------------------------------$15,000,000
BALTIMORE CHESAPEAKE & ATLANTIC R Y.— Owns Claiborne
Reserved to retire same amount of 4% certs, of Indebtedness, It
to Ocean City, Md.. 87.66 m.; from Claiborne to Baltimore, 44 m., transfer
surrendered prior to March 1 1910 (on June 30 1909 only
Is
made by water: steamer lines owned, 1,134 m.; total mileage owned
$21,566,000 of these certs, were outstanding, remainder re­
operated, 1,221.66 m. Controlled bv Pennsylvania RR and allied
served to retire pref. shares still unexchanged)------------------- 23,562,000 and
lines. V. 69. p. 5 4 1 ,590; V. 59, p. 371. Pref. stock, $1,500,000 5 % cum.;
Reserved to retire underlying bonds__________________________ 84,090,000 com., $1,000,000. Dlv. on prer., 2% M rh . 1 1905; In 1906, Mon., 3 %;
Reserved (along with any bonds not Issued to retire certs, of
2% ; In 1907, March, 3% ; Sept., 2% : In 1908 Oct., 2% ; 1909. Jan.,
Indebtedness) for future construction, Improvements, A c .).. 77,348,000 Oct.,
of minority stockholders for larger dividends, V. 87. p. 284.
The 4% convertible debentures will be redeemable after May 1 1916 at 5% . Claim
stockholders voted on Jan. 26 1905 to acquire a majority of the stock
105 and convertible at the option of the holder Into common stock at $135 of The
the Maryland Delaware A Virginia R y., extending from Queenstown,
a share at any time after Jan. 15 1910 and until Jan. 1920, or If called up to Md., to Lewes. Del., with branches, a total of 77 m.. and guarantee $2,000,­
30 days prior to the date of redemption. The holders of the 4% certs, of
of Its first mtge. bonds. See that co., V. 80. p. 116, 1058.
Indebtedness have the right, until March 1 1910, to exchange their certs, 000Fiscal
year now ends Dec. 31. In 1908, gross, $980,975: net, $198,077:
for debenture bonds or unllled mortgage bonds at par. V. 89, p. 1481.
other Income, $10,080; charges and Improvements, *162,540: dividends
As to the $35,000,000 collateral trust 4s of 1902. see "Organization” (2 % ). $30,000: balance.surplus. $15,616 — (V. 84, p. 1302; V. 87. p 284.)
above. They are subject to call at 105 In amounts not less than $100,000.
BALTIMORE & CUMBERLAND (RR. AND R Y .).—The Railroad ex­
There were outstanding also Oct. 1 1909 $55,000 Brunswick A Western
Income bonds and $167,000 Jacksonville A Southwestern freight certificates. tends from State Line, Md., to Waynesboro. Pa., 4.55 miles; stock, $76,700,
The Washington A Vandemere 4)^s ($1,500,000 authorized, of which in $50 shares. The Railway extends from Edgemont. Md., to State Lino,
Pa., 3 m.; stock, $42,500, In $100 shares. Both are leased to Western
$720,000 outstanding) are guar. p. A 1., by endorsement. V. 84, p. 1246
Maryland RR for 50 years from July 1 1879, with privilege of renewal or
FINANCES.— In Feb. 1910 the Louisville A Nashville dividend rate will purchase; rental. Interest on bonds.
be raised from 6 to 7% . V. 89, p. 1595.
BALTIMORE & CUMBERLAND VALLEY EXTENSION RR.— Waynes­
LATEST EARNINGS.— 11909___ Gross, $11,080,801; net, $3,307,393
boro to Shlppensburg. Pa., 26.52 miles. Leased to Western Maryland R R .
mos., July 1 to Nov. 30.J1908___ Gross,
9,690,508; net, 2,507,266
for 50 years from July 1 1881, with privilege of renewal, for Interest on bonds
REPORT.— Report for year ending June 30 1909 at length, V. 89, p. and dividend on stock, amounting In all to $38,730. Seo table above and
1340, 1352 (editorial, p. 1312). Comparisons with 1906-07 Inaccurate.
V. 75, p. 665,— (V 75, p. 665.)




17

RAILWAY STOCKS AND BONDS,

J a n ., 1910.]

N
.St. Basil
. , sOreert
' ^ s^jilv ec

SLJFraiic'isN

\,e°

ST.FIMNCn

^V A N m C j'R E ir-

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E a rjltj\
Upper L .)

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___ .KHOLM
Eake Jeintjand
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_

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SQUAPA

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Lake

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Subrederliy

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MAP OF THE

BANGOR & AROOSTOOK

ach
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AND CONNECTIONS.

18

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
Baltimore & Ohio (Concluded)—

Miles Date
Road Bonds
7 1882
1894
la 4s
1893
1896
1900
1895
1889
1900
1886
1887
1890
1892
1882
1878
1887
1892
1890

Virgin
192
192
102
88
30
72
172
209
33
11
77
30
215
3
176

Par
Value

Amount
Outstanding

Rate
%

a959,000
tt250,000

6g
5g

1,000
1,000

Clev Lor & Wheel cons M (now 1st) gold__ Usm.c'
1,000
General mortgage $1,000,000 gold redeem 105. N.<
1,000
Cons ref M $10,000,000 gold red at 102 J3-_Ta.c'
1,000
Cleveland Term & Valley 1st M gold guar..Ale.c* A;
1,000
Monongahela Rlv R R 1st M gold guar B & O .- Ce.c'
1,000
Ohio A Little Kan Ry 1st M $250,000 red 105 gold
1,000
Ohio River first mortgage ($2,000,000) gold.-F P .c
1,000
General mortgage ($3,000,000) gold 1st on 30 me
1,000
Rav Sp A G1 1st M $400,000 g guar p A l-.F P .c
1,000
Huntington A Big S 1st M ($400,000) gguar.-c*
1,000
Pittsburgh Cleveland & Toledo first mortgage gold.
1,000
Plttsburgh Newcastle & L E 1st M extended In gold
100 Ac
Pittsburgh & Western 1st cons M $10,000,000 g ..c *
1,000
Ellwood Short Line first mtge gold $300,000__ G
1,000
W Va & P 1st M gold 5s scaled; red at par.-M eBa.c
1,000
Leased Lines, &c., Securities
Balt A New York RR 1st mtge gold guar.AleBa.cAr
5 H 1889
1,000
_ 1895
Mon River Coal M $1,500,000 gold s f redeem at par
1,000
Schuylkill River ES RR 1st M gold guar pAi end.
12 1903
1,000
11 1883
Staten Isl Rap Tran 1st M $1,000,000 g $ or £ . Us.c*
1,000
New mortgage $5,000,000-------------------------------1905
Staten Island Ry first mtge $1,000,000 gold.-Ale c*
13 1893
1.000
Balt & Ohio Chic Term RR— ChAGtW 1st M gass’d.c*
...
1886
1,000
City of Chicago purchase money mortgage assumed
Baltimore & Potomac— See Phlla Balt & Washington
Bangor & Aroostook— Stock (see text)-------------------100
First mortgage ($16,000 per mile) gold.............G.c*
H i 1893
1,000
211 1895
Second mortgage gold---------------------------------- Usm
1,000
First mortgage Piscataquis Dlv $1,500,000 g ..(i.c *
77 1899
1,000
V Bur Ext 1st M $500,000 g (V 69. p 952)___ G.c*
33 1899
1,000
Aroostook Northern first mtge $225,000 gold--(i.c*
15^ 1897
1,000
Consol refunding mortgage $20,000,000 g _OB.c*
412 1901
1,000
Medford Ext 1st M $1,000,0Q0 g (V84, p 692). Us.c*
28 1907
1,000
_ ’ 92-’95
Aroostook County bonds (assumed)------- -------- .
1,000
North Maine Seaport 1st M guar p & 1— Usm.c*Ar
54 1905
1,000
Car trusts Ser B ___ ..................................................G
96-'00
1,000
a “ Total Issued” shown In first left hand column. balanc e being owned b y

[V O L . L X X X X .

When
Payable
J
J

&
A

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

J July 1 1922
J July 1 1922

5,000,000
890,000
950,000
3,302,000
700,000
228,000
2,000,000
2,941 .000
376,000
303,000
441,000
82,100
650,000
300,000
3,943,000

A
O Oct 1 1933
5g
5 g J & D June 1 1936
4 yz g J & J Jan 1 1930
M & N Nov 1 1995
4g
5 g F & A Feb 1 1919
M & S Mch 1 1950
5g
6 g J & D June 1 1936
5 g A A O Apr 1 1937
F A A Aug 1 1920
6g
6 g J A J July 1 1922
6 g A A O Oct 1 1922
4 g J A D June 1 1917
4 g J A J July 1 1917
5 g J A J Jan 1 1922
4 g A & O Apr 1 1990

50,000
672,000
5,000,000
1,000,000

5
5
4
6

511,000
394.000
650.000

g
g
g
g

M
J
J
A

A N May 1 1930
A I) Dec 11945
A D June 1 1925
A O Jan 1 1913

4H g J A D June 1 1943
J A D June 1 1936
5 S M & N May 1 1938

2,510,000 4 In 1909 Seml-an. Jan 10 *10 2%
3,360,000
5 g J A J Jan 1 1943
112,000
5 g •J A J July 1 1945
1,500,000
5 g A A O Jan 1 1943
500,000
5 g A A O Jan 1 1943
225,000
5 g A A O Oct 1 1947
6,458,000
4 g -r A J July 1 1051
1.000,000
M A N May 1 1937
5g
728,000
Various Sept 12-July 15
4H
4,652,000
5 g A A O Apr 1 1035
“ ct 1 1911
80,000
5g A A OBaltimore A Ohio.

Office,2 Wall St.N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
1

do
do
do
do
do
do
do
do
do
do
n tv | r x u c g i i v u j

J P Morgan & Co, N Y
Co’s office, 2 Wall St. NY
do
do
do
do
Aimer Bonding A Tr.Balt
518 Walnut St, Phila
17 State St, New York
17 State St, New York
Mercantile Trust Co, N Y
To City of Chicago
Checks mailed
Guar Trust Co, New York
do
do
do
do
do
do
do
do
Brown Bros, N Y: & Bost
do
do
Fourth Nat Bk, Boston
Brown Bros NY Bos APh
Guar Trust Co,New York

BALTIMORE & HARRISBURG RR.— Emory Grove, Md. to Orrtanna.
Of which In partial exchange for cld bonds________________ $10,569,000
Pa., 59 m ., with branches, 7 m ., total, 66 m. Leases Balt.A Harrisburg Ry.
Sold to a syndicate for cash requirements_________________
4,000,000
Western extension, Orrtanna to Hlghficld, 15 m ., guaranteeing lntereston
this Issue $6,175,480 Is In hands of the public and $7,635,050 pledged
Its bonds. Leased to Western Maryland R R . for 50 years from Oct. 25 as Of
part
collateral
for
Pitts.
Lake
Erie
A
West
Va.
System
4s
1886; rental, Interest on bonds and 5% on pref. stock (all paid M & N),
Note.— 'The underlying bonds still outstanding In July 1909 are In table
Stock, com ., $690,000; pref., $29.100.— (V. 44, p. 812.)
at top of page. The underlying stocks still out $21,227, par value.
BALTIMORE. & OHIO RR — (See M ap.)— ROAD.— Operates from Balti­
(5) Pittsburgh Lake Erie & Wesf Virginia System mtge. refunding 4% gold
more to Philadelphia and Baltimore to Chicago, Cincinnati and St. Lovls; bonds
amount $75 000,000) arc a lien on 1,642 miles, consisting
total mileage leased, owned and operated In July 1909,4,003 miles. f Royal of the (authorized
Ohio River. Cleve. Lorain & Wheeling. Pittsburgh A Western. A c.,
Blue Line” (see Central RR of N.J.) gives access to New York.
forming a direct connection with Pittsburgh, Cleveland Falrport Lorain
BALTIA10RE & OHIO— (See Map>— (Concluded.) —
and Sandusky, subject to underlying bonds outstanding thereon (see table
The system embraces, subject to mortgages, the following lines;
above). In Sept. 1905 $29,060,950 additional underlying bonds Including
Pr. lien 3 'A % M — (1,076 m.) Miles Pittsburgh A Western__________ a21 $7,635,050 Plttsb. June & Middle Dlv. 3H s, were held In trust ns part se­
Balt, to Wheeling, Belpre, O., Ac.721 Plttsb. Cleveland & Toledo_________ 77 curity. The $30,553,000 unissued are reserved to rotiro underlying bonds.
Cumb. to Plttsb & W , &c______355 Plttsb.Palnesv. A F alrport________ 53 V. 86, p. 479. See full statement V. 74, p. 266; V. 79, p. 2793; V. 80, d .
Eastern Ohio__________________ 17 1423; V. 86, p. 479; V. 88, p. 451; 685.
lsf M . 4% — (581 miles.)
11
Balt, to Phlla. and branches_____137 Trumbull & Mahoning_________
(6) The 4% debentures of 1901 are convertible at the option of the holder
Chicago, III., to Akron. O_______ 378 Monongahela River R R _______ 30 Into
common stock at par on 30 days’ notice (see V. 73, p. 1159); they may
Branches to Fairmont.W.Va., A c. 66 Cleve. Terminal A Valley__________ 92 be called
for payment at par and Interest on any Interest day. In the Inverse
Cleve. Lorain A Wheeling Ry.,
South W. Dlv. 3t$% M .—
order
of their numbers. V. 72, p. 282; V. 73, p. 337, 1158; V. 75, p. 549.
Wheeling to Cleveland, A c__ al95
Belpre, 0.,vla Clncln. to St.L. Ac 930
(7) New York Division and Terminal lsf 4s (authorized amount $10,000,­
Ohio River RR. Lines—
Pitts. Jet
M — (384 miles)
Benwood to Wheeling, A c___a265 000) are secured by deposit with the trustee of all the Staten Island Rapid
Bellalre to Midland City, C i ------)
Shawnee to Sandusky O----------- J377 West Virginia Short Line R R _______ 58 Transit refunding 4s as Issued ($5,000,000 authorized), all the $350,000
Pittsburgh Junction R R ------------ 7 Ohio & Little Kanawha R R ________ 74 Balt. A N. Y. 1st 5s and the entire stocks of those companies. Of the
bonds $5,000,000 were Issued on June 30 1909 but held In the treasury, the
P.L.E.dbW. V.Sys.4 %M . (*1,642m.)
balance being reserved for the further equipment, development and exten­
West Virginia & Pittsburgh------- 176 Total of all (adding Baltimore
Belt and other lines)________ 4,448 sion of the Staten I. properties. Including Balt. A N. Y. Ry. V. 83, p. 1042.
In Nov. 1907 the Balt. A Ohio purchased 2.000 cars from the Fairmont
•Includes 384 m ., also covered by Pitts. Jet. 1st M. a See this company
HISTORY.— Receivers were appointed In Feb. 1896, but In 1899 reor­ Coal Co., assuming part of $1,529,000 5% car trust bonds, due $162,000
ganized without foreclosure,per plan in V. 66, p. 1235. The B. A O. South­ yearly to Sept. 1918. V. 85, p. 1404. Ground rent liens June 30 1909,
western was reorganized per plan In V. 67, p. 688, the consol, mtge. of 1893 $1,223,564.
having been foreclosed; Cent. Ohio, &c., plan, V. 67, p. 688, 1206, 1356.
LEASED LINES.— Schuylkill River East Side 5% bonds were purchased
The $15,140,000 Chicago Term. Transfer 1st 4s were redeemed May 3 1907, Dec. 1 1903 at 110, per V 68. p. 40, and $5,000,000 new 4s Issued guaran­
and in Jan. 1910 the property was bid In at foieclosure i-ale teed, p. A I.. by endorsement. V. 77, p. 1745; guaranty, V. 81, p. 727.
and reorganized as the Balt. A Ohio Chic. Term. R R . with $8,000,000
The West Virginia A Pittsburgh (see agreement In V. 67, p. 1310) has
authorized stock. V. 90, p. 166.
been operated since Sept 1 1809 under a 99 years’ lease, for 4% on the mtge.
Control of the Cincinnati Ham. & Dayton.— Under the readjustment plan to be appropriated to payment of bond Interest. V. 69 p. 439.
of the Cincinnati Hamilton A Dayton (V. 88, pi 1436, 1498), the Baltimore
The B. A O. acquired at 125 $1,956,000 of the $2,400,000 Pittsburgh
A Ohio In August 1909 acquired virtual control and Is to acquire Cleve. & Toledo bonds. V. 70, p. 632; V. 76, p. 47.
control on July 1 1916 at a price to be fixed by arbitrators, the controlling
FINANCES.— In Feb. 1909 sold $13,100,000 Pitts. L. E. A West Va.
stock to be vested meantime In three voting trustees, one to be the Presi­
dent of the B. & O. for the time being. Certain of the securities of the dlv. 4s. In Aug. 1909 ordered 27,250 tons of steel rails and cars costing
about $6,500,000. V. 86, p. 1528; V. 87, p. 36; V. 88, p. 451; V. 410.89, p.
C. H. & D. arc guaranteed. V. 89, p. 102, 46s.
The capital expenditures for 13 years ending Dec. 31 1909 were $151,­
READING CO.. Ac.— In 1901 $68,565,000 (virtual control) of the $140,­
000,000 Reading Co. stock, consisting of $12,130,000 first pref , $28,530,000 704,000 and $24,000,000 will be required to complete construction and
second pref. and $27,905,000 com. was acquired, the Lake Shore & Michi­ betterments In progress and equipment contracted for. V. 90, p. 166.
EARNINGS.— 6 m os.,/1909_____Gross, $44,070,620; net, $1-1,885,389
gan Southern Ry. Co. (Vanderbilt system) taking about one-half. In 1904
July 1 to Dec. 31. 11908_____Gross, 39,147,007; net, 14,176,593
the B. & O. and L. S. & M. S. each sold $3,950,000 of the common. V. 76,
Earnings of July 1909, based on 4,198 miles, entire system, except Valley
p. 101; V. 80 p. 1856. In 1903 a one-sixth Interest In $6,924,200 of the
R R . of Virginia, Ravcnsvvood Spencer A Glenville, Ohio A Little Kanawha,
$11,000,000 Hocking Valley Ry. com. stock was acquired. See that co.
PENNSYLVANIA R R . INTEREST.— The Pennsylvania RR. Co. pur­ Cleveland Terminal A Valley.
ANNUAL REPORT.— Report for year ending June 30 1909 was In
chased a large Interest In 1900-01 and on Jan. 1 1909 owned directly $14,­
273.600 pref. and $5,725,000 com. stock; also— through the Northern Cen­ V. 89, p. 1138, 1 158. (See also editorial, p. 1117.) Average rate per ton
tral and Phlla. B. & W. (each owning one-half)— $2,000,000 pref. and $2,­ per mile, 5.81 mills In 1908-09, against 5.69 mills In 1907-08; average rev­
097,400 com. stock, and through Pennsylvania Co. $5,000,900 pref. and enue train load, 425 tons, against 408 In 1907-08.
$13,451 200 com. stock. V. 70. p. 76; V. 74. p 528; V. 78, p. 1276. In
Year ending June 20— 1908-09.
1907-08.
1906-07.
1905-06.
Sept. 1906 tile Penn. RR. sold about $32,334,200 com. and $7,206,400 pref. Miles..............
3,992
3,992
4,006
4,030
B. A O. stock held (approximately half Its total stock holdings), the Union Freight ........................... $53,872,416 $55,681,786 $64,625,946 $60,002,204
Pacific system (Oregon Short Line) purchasing same. V. 83, p. 562, 686. Passengers....................... 12,970,112
13,736,107 14,147,117 13,701,698
1036; V 84, p 50. 569.
Mall, express, & C ............ 4,200,990
4,190,888
3,470,859
3,688,153
STOCK.— Authorized Issues: Common, $152,750,000: pref. 4% non-cum.,
$60,000,000: outstanding, see table above. Pref. stock dlvs. are limited to
Total gross earnings..$71,043,519 $73,608,781 $82,243,022 $77,392,056
4% . (See V. 71, p. 1166. and editorial, p. 1143; V. 72, p. 1186.)
Operating expenses____ 47,551,976 54,150,870 54,880,091 49,515,221
DIVIDENDS.—
’00. ’01 to ’04. ’05. ’06. ’07. ’08. ’09. 1910.
24 yearly
5>j 6
6
6
Mch.,3
Common ( % ) ................
Net earnings............ .$23,491,543 $19,457,902 $27,363,831 $27,876,835
Preferred ( % ) . ....................... 4
4,.yearly 4
4
4
4
4
Mch.,2 Oper. Inc. (after taxes).$20,890,104 $17,430,603
5,268,975 ] No comparison posslBONDS.— (1) Prior Lien 3 K % , a first lien on main line and branches, Other incom e................. 4,685,139
---------------- ---------------- - ble, owing to changes
Parkersburg branch and Pittsburgh division, about 1.076 miles of first track
Total net Income___ $25,575,243 $22,690,578 J
In accounting.
and 1,325 miles of second third and fourth tracks and sidings, and also all
the equipment now owned of the value of upwards of $20,000,000, or here­ Interest, rents, A c____ $12,554,278 $12,264,234
547,984
278,556
after acquired. Total authorized, $75,00u,uuo. See application to list, MIsc. Improvements, Ac.
Dlvs. on pref. stk. (4%) 2,400,000
2,400.000 2,400,000
2,400,000
V. 69, p. 30; V. 78. p. 1906; V. 86, p. 1528; V. 86. p. 36.
(2) First Mortgage 4% Gold Bonds, Due July 1 1948 but subject to call, Dlvs. on com. stock___ (6)9,130,550(6)9,130,550 (6) 9,130,550(5 M) 6851474
In whole or In part, after July 1 1923, at 105; a first lien on the Philadelphia,
•Balance, sur. or def. S.$942,432D.$1,373,762 S.$2,915,440 S.$5,812,830
Chicago and Akron divisions and branches and the Fairmont Morgantown &
Pittsburgh R R ., covering about 581 miles of first track and about 573 miles
•Surplus differs from that shown In pamphlet report, owing to method
of second third and fourth tracks and sidings; also on the B. & O. Terminal of charging common stock dividend our form being used to- simplicity.
property and the Baltimore Belt RR. They are also a lien, subject to prior
Executive Committee— Daniel Willard, Chairman; Oscar G. Murray,
lien mtge , upon main line, Ac. See app. to list, V. 69, p 30; V. 79. p 211. J. R. Foard, L. F. Lorce, Robert S. Lovett, E. R. Bacon, N. B. Ream and
Total authorized (Incl. $49,975,000 Issued at reorganization)..$165,000,000 Samuel Rea; Pres., Daniel Willard; 1st Vlce-Prcs., Geo. F. Randolph; Sec.,
Of which reserved to retire prior Hen bonds In 1925________ 75,000,000 C. W. Woolford; Treas., J. V. McNcal.
Issued and Issuable for betterment or extension of the prop­
Directors— R. Brent Ksyser. John P. Green. Samuel Rea, Joseph R.
erties covered by mortgages (1) and (2 ), or for extensions,
Foard, Oscar G. Murray, James Speyer, Robert S. Lovett, Norman B.
additions or equipment; at not exceeding $1,500,000 a
Ream, James Stillman, Edward R. Bacon, Joseph Wood, L. F. Loree.
year for the first four years and at not exceeding $1,000,000
New York office, 2 Wall St.— (V. 89, p. 1346; V. 90, p. 107, 166.)
a year thereafter, originally--................ ............... .............. 27,000.000
BALTIMORE & OHIO CHICAGO TERMINAL R R — Pr perty con­
(3) Southwestern Division 1st Mortgage 3)4s. Virtually a first
sists
of passenger and freight terminals In city of Chicago, lines of ty. leading
lien upon the properties constituting the B. A O. South­
thereto, and a belt line around the city. Company owns 760 acres of laud
western RR. system, or the securities representing the same,
In and adjacent to the city, of which 50 acres arc In the centre of the business
covering about 930 miles of first track and about 401 miles
district; also Includes 7,500 feet of dock property on Chicago River. Nearly
of second track and sidings. All Issued................................... 45,000,000 all
land. Including that upon which tracks have been built, Is owned In fee.
(4) B. & O., Pitts. Jet, & Mid. Dlv. 3 Us. Expected to be ulti­
Track
owned, 84 m.; leases from Chicago Junction Ry. 11 m.; trackage, 7 m.;
mately a first lien upon the railroads of the Central Ohio sys­
tem and Pitts. Jet. RR. Co., 385 miles in all. Total_____
20,000,000 total. 101 m.; 2d track. 69 m.; sidings, 118 m.; total all tracks, 289 miles.
HISTORY.— Successor to Chicago Terminal Transfer R R ., bid In at
Of which to be Issued only at the rate of not exceeding $1,000,­
000 per year for the first two years and thereafter at the
foreclosure sale on Jan. 10 by the B. A O. under the first mtge., subject to
rate of not exceeding $500,000 per year, for the enlarge­
two underlying mtges. shown above. V. 90, p. 166, 100, 235. Stock
ment, betterment orextenslonof the properties covered-.
5,000 .000 authorized, $8,000,000; par $100.




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20

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
Bangor & Aroos (Con.) Car trusts Ser C g gu -PeP.c*
Car trusts Ser D g guar $45,000 due s-a_____Pe.Pc*
Bangor & Portland— First mortgage gold...................Bath & Hammondsport— 1st mortgage______________
Second mortgage___________ ________ ____________
Bcaum’ t & Gt Nor— IstM g $40,000per m red 102 44-G
Beaver & Ell wood— First mortgage gold__________
Beech Creek— Stock (guaranteed 4 % by endorsement)
First mortgage gold guar p & 1 (endorsed)-. K.c&r
Second M tor $1,000,000 g guar p & 1 (end). Un. c&r
Clearfield Bltum Coal 1st M lnt guar by Bh Cr g — c
Beech Creek Exten— Is M $4,500,000 g guar p & 1 G.c*
Beech Creek consol mtge $20,000,000 gold--G .c* &r
Bellingham Bay & Brit Col— 1st M $1,000,000 gold s t
Belt RR & Stock Yard of Indianapolis— Stock...........
Preferred stock cumulative_____________________
First mortgage tor $1,000,000 currency__________
New mortgage, $1,000,000 gold...........- - - ............
Belt Ry of Chattanooga— First mtge gold— MeBa.c
Belvidere Delaware— Stock $4,000,000)....................
Consolidate guaranteed by United Co’s sinking t d -.r
mortgage (guaranteed by United Co’s sinking td. .r
of 1875
IIssue $600,000 reduced by sinking fd -.r
$4,000,000Jguaranteed by United Co's sinking f d.c*
Bessemer & Lake Erie— Erie equipment trust.............
Locomotive equipment trust-------------------------------Standard equipment trust_______ ________________
Bessemer equipment trust, due $110,000 yearly ....
Birmingham Belt— See St Louis & San Francisco
Birmingham Terminal— 1st M $3,000,000 gold guar..
Bloomsburg & Sullivan RR— First M $400,000------FP
Second mortgage Income non-cum $200,000----- FP
Boca & Loyalton— First M $675,000 gold call 1 1 0 ..c*
Boonville St L & South Ry— 1st M gold $1,000,000 .c*
Boston & Albany— Stock ($30,000,000 authorized) . . .
Bonds (not mortgage) guaranteed prln & lnt...........c
Bonds (not mortgage) $5,000,000...............................
Bonds $2,500,000 currency.................- - - ..........- - - ­
Bonds (not mtge $7,000,000, currency, gu. p. & I.
Bonds (not M) guar P & 1-------------------------------c&r*

Miles Date
Road Bonds

10

1906
1907
80-’86
1889
1893
1909
1899

Amount
Outstanding

Par
Value
$ 1,000

1,000
100 &c
1,000

$585,000
675.000
320.000
100.000

200,000
1,000
10
1,000 V .90,p.235
33
150.000
3
50 6 ,000,000
165
1,000 5.000.
165 1886
1.000.
1,000
165 1892
721,500
100 &c
1891
3.500.000
*59 1901 1.000 &c
1905 1.000 &c 3.964.000
659.000
1901
1,000
All
1, 000,000
50
500.000
50
1 , 000,000
1,000
1881
See text.
1909
300.000
1,000
1895
1 ,253,000
50
500.000
1,000
1885
749.000
1,000
1887
500.000
1,000
1893
973.000
1,000
1903
1.220.000
1,000
1902
150.000
1,000
1903
1,060.000
1,000
1905
1 , 100,000
1,000
1907

30
30
56
44
392

Rate
%

When
Payable

Last Dividend
and Maturity

& D To June 1191*
& O To Apr 1 1917
& J 1930-1936
& D June 1 1919
.
& O Oct 1 1923
& J July 1 1939
& D July 1 1919
Q—J Jan 3 1910 1 V,
000
J & J July 1 1936
000
& J July 1 1936
& J Jan 1 1940
4 g
& O Apr 11951
3 44 g
A & O Apr 1 1955
4g
5 g J & D Dec 11932
& J Jan 1 1910 3
6 In 1909
6
Q—J Jan 1 1910 1 44
M & N Apr 30 1911
6
1939
4g
J & J July 1 1945
5
See text Seml-an. Dec 31 ’ 09 5%
M & S Sept 1 1925
4
4
F &
Feb 1 1927
4
Jan 1 1933
J &
Jan 1 1943
3 4* g J &
5
M &
Mch 1 1922
5
M &
Mch 11913
5
Apr 1 1925
A &
5
M &
Mch 1918-1927
5
5
6
5
5

g
g
g

F
»s

1.500.000
1,000
4g
358.100
5
100 &c
199,600
5
100 &c
524.000
1,000
6g
400.000
0g
1,000
100 25,000,000 See text
3.858.000
1,000
1902
344
1,000
3.627.000
4
1893
1 , 000 ,000
1,000
1901
34*
7,000,000
1,000
100 8
4.500.000
l*
1909 1 , 0 0 0 & C

1907
1898
1898
1903
1881

TENANTS.— Balt. & Ohio, Chicago Great Western, Chicago Junction.
Pere Marquette (the last named since Dec. 1903). See V. 77, p. 948, 2158.
V. 79, p. 901. Minimum rentals receivable from tenants amount to $513.•
500 annually. See V. 79. p. 2084.
EARNINGS.— 5 m os.,jl9 09_______ Gross, $514,726; net, $56,554
July 1 to Nov. 30. 11308________Gross, 484,503; net, 45,550
REPORT.— Report of old Co. for year end. June 30 1909, given In V. 89,
p. 1066, shows: Oper. rev., $1,091,817; oper. Inc., def. after taxes, $101,727;
other Inc., $698,412; lnt., rents, &c., $681,635; bal., def., $84,945.— (V. 90,
p. 166, 235.)
BANGOR & AROOSTOOK R R .— (See M ap.)— Oldtown, Me., northerly
to Van Buren, with branches; total. 514.6 miles, viz.
Lines Leased—
Miles.
Lines owned—
Miles
Oldtown to Van B u r e n ---------221.7 Northern Maine Seaport, La.
Orange to Searsport................. 54.1
Ashland Jet. to Fort Kent----- 94.9
7.6
Milo Jet to Greenville-------------- 48.8 S purs_______________________
South Lagrange to Packards.. 28
Total
Branches__ ____ ________ — 59.5
— June 30 1909-------------514.6
Northern R v. of Maine was Incorporated with $510,000 stock to build
about 80 miles, connecting Van Buren, Ft. Kent and St. Francis, which
were mostly opened in Jan. 1910; other extensions, aggregating 35 miles,
have been authorized. V. 85, p. 920; V. 89, p. 161.
ORGANIZATION.— Organized Feb. 13 1891. State of Maine refunds
95% of all taxes levied. For organization see V. 66, p. 855. Owns entire
stock of and leases for 999 years Northern Maine Seaport R R .. which In
Nov. 1905 opened extension from La Grange. Me., to Searsport, on Penob­
scot Bay. 54 miles. v . 81, p. 1549: V. 84. p. 693
STOCK.—-$2,510,000, being Increased from $1,550,000 In June 1907 to
acquire stocks of Northern Maine Seaport and Schoodlc Steam R R s.. etc.
25,100 shares full paid. V. 84, p. 1549.
DIVIDENDS.— 1 44% semi-annually, Jan. 1904 to Jan 1905 both in­
clusive; July, 2% ; 1906, 4% ; 1907 to 1909, 4% (s.-a.); 1910, Jan., 2% .
BONDS.— Plscat. Dlv. 5s, see V. 67, p. 1159; V. 68, p. 84, 329. Of the
consol, ref. gold 4s, $12,500,000 were reserved to pay oil the outstanding
bonds, Including those of controlled roads car trusts and pref. stock, and
to acquire such controlled roads; $3,000,000 for Improvements over a series
of years and $4,500,000 for extensions at $25,000 per mile, Including equip­
ment. V. 73, p. 286, 896; V. 74. p. 93. The Northern Maine Seaport bonds,
of which $4,562,000 Issued ($5,000,000 authorized) are guaranteed. V. 81,
p. 265; V. 82. p. 392; V. 84, p 391,692; form of guaranty, V. 81, p. 727.
LATEST E A R N IN G S— / 1909.............. Gross, $1,195,234; net, $475,146
5 mos., July 1 to Nov. 30.(1908________ Gross, 1,180,512; net, 409,072
Surplus after charges In 5 mos. of 1909, $133,281, agst. $47,300 In 1908.
ANNUAL REPORT.— Report for year ending June 30 1909 was In V. 89,
p. 1219, showing, gross, $2,916,815; net, $1,127,649: charges, $984,175;
dlvs. (4% ), $100,400; bal., sur., $43,075. In 1907-08, gross, $2,844,082;
net, $1,044,261. Directors, Oct. 1908, V. 87, p. 1088.— (V. 89, p. 1219.)
BANGOR & PORTLAND RY.— (See Map Del. Lack. A West.)— Portland
to Bath. Pa.. 29 miles; Nazareth Jet to Martin’s Creek, 5 m.; other branches
5 m.; total. 39 m
Stock. $510,000, all acquired In 1900 by Del. Lack. &
West. RR
Dividend 1900. 6%; 1001 . 5%- 1002. 4% ; 1903 7% : 1904. 8% ;
1905, 15%; 1906 and 1907, 20%: 1908, 18%. For cal. year 1908, gross,
$311,181; net over taxes, $148,991; other Income, $996; charges, $40,076;
dlv. (18% ), $91,800; bal., sur., $18,111.
BATH & HAMMONDSPORT RR — Bath, N. Y ., to Hammondsport, N
Y ., 10 miles. Control acquired by Erie R R . In 1908. Stock, $100,000.
Year ending June 30 1909, gross, $41,923; net, Incl. other Income, $17,793;
lnt., taxes, &c., $19,484; bal., def., $1,691.— (V. 79, p. 1954.)
BEAVER & ELWOOD RR.— Ellwood Jet. to Hazen Coal Mine Pa., 3 m.
Leased to Pitts. & L Erie RR. for 20 years from May 1 1899; rental being
40% of gross earns: rental In 1907, $17,033; adm’n expenses, $576; lnt. on
bonds, $6,000; dividends (6% ), $9,000; bal., sur., $1,457. Stock, $150,­
000; par, $100.
.
BEECH CREEK RR.— (See Maps N. Y. Central A Hudson River RR.)—
ROAD.—Jersey Shore, Pa., to MahafTey, 112 m.; branches to Phlllpsburg,
to mines, &c.. 53 miles; total, 165 miles.
LEASE, &c.— From Oct. 1 1890 leased to the N. Y . Cent. & Hud. River
RR. for 999 years at Interest on bonds and 4% on stock, and since May 1
1899 operated directly as a part of Its Pennsylvania division. V. 68, p. 872.
Carries mostly coal and coke. See guaranty. V. 52. p 570. The bonds are
endorsed with New York Central’s guaranty of principal and Interest.
See V. 52 p. 570.— (V. 75. 1398.)
BEECH CREEK EXTENSION RR.— (See Maps N. Y. Cent. A Hud. Rlv.)
— Clearfield, Pa., to Keating, 52.14; Curry to Curwensvllle, 15.77 m.; Har­
mon to Irvona, 26.76 m.; Mahaffey to Arcadia, 12.95 m.; branches, 19.88 m.;
total, 127.5 miles. A low-grade coal line leased to New York Central
6 Hudson River Railroad (which owns the entire $5,179,000 stock)
for 999 years rrom June 1 1905. bonds being guaranteed, prln. & lnt. Of the
consols, part Is reserved to retire, dollar for dollar, old bunds. V. 80, p.
1174,1479; V.81 p 30; form of guaranty. V. 82. p 1267.--(V . 82, p. 1267)
BELLINGHAM BAY & BRITISH COLUMBIA RR.— Bellingham to Gla­
cier. Wash.. 44.16 m.; branch from Hampton to Lynden, 5.31 m.; spurs,
12.23 m.; yard track and sidings, 8.27 m.; total, 67.97 m. Stock, $1,000,­
000, all owned by New York and San Francisco parties. Loans and bills
payable June 30 1909, $228,000. Year ending June 30 1909, gross. $234.
363; net, $61,937; other Income, $1,121; lnt. and taxes, &c., $59,958; bal.,
sur., *3,100. Pres.. H. H. Taylor.— (V. 81, p. 840.)
BELT LINE RY. OF MONTGOMERY.— Owns real estate and a belt line
In Montgomery Ala., about one mile of track on Tallapoosa,Bell, Perry and
Columbus streets
Atlantic Coast Line R R pays an annual rental of $15,­
531. Atlantic Coast Line RR. owns about 92% of the $200,000 stock; par.
$100. The $200,000 6% bonds were paid off at maturity, Jan. 1 1910.
V. 90, p. 107. Year ending June 30 1909, gross, $18,049; net Income, $16,­
966; bond Interest, $12,000; balance, surp., $4,966.— (V. 90, p. 107.)




I VOL. LXXXX,

RAILWAY STOCKS AND BONDS.

M & S Mch 11957
J & J Jan 1 1928
J & J Jan 11928
A & O Apr 11923
F & A Aug 1 1911
Q— M Dec 31 1909 2 J*
A & O Apr 11952
A & O Oct 1 1913
J & J Jan 1 1951
v f & N May 1 1933
M & N May 1 1934

Places Where Interest and/
Dividends are Payable
Brown Bros, N Y & Bost
do
do
90 West St. New York
50 Church St, N Y j ,
do
do ]>ii
New York
Guaranty Trust Co, NjY
Grand Cent Station, NjY
do
do M M
do
do
Knickerbocker Trust,NY
Grand Cent Station, N Y
do
do
U S M & T r Co, NY; &SF
Co’s office, Indianapolis
do
do
W H Newbolds, Phlladel
Mercantile Tr & Dcp.Balt
Broad St Station, Phlla,
do
do
do
do
do
do
do and Bk Com,NY
Home Tr Co, Hobok, N J
do
do
do
do
do
do
Eqult’lT rC o , New York.
F I T & S D Co, Phlla
Reg Bloomsburg, wh earn,
U S M & T r .N Y ; & S F
Amer Exch Bank, N Y
Office, Term Stat’ n, Bost
do
do
Office, Term Stat’ n, Bost
do
do
do
do
do
do

BELT RAILROAD & STOCK YARD OF INDIANAPOLIS— Owns 1A
■niles of belt road &c. Leased for 999 years to Ind. Union— which see.
D IV ’ND— (Preferred In/Common ’ 03. ’04. ’05. ’06. ’07. ’08. ’09. 1910.
Since 1897 --/fu ll to date, (stock. % 6 >3 7
8
811
12
6 J a n .,3
In July 1909 $1,000,000 30-year 4% bonds were sold to retire the 6s due
1911. V. 89, p. 40. Pres., S. E. Rauh, Indianapolis, Ind.— (V. 89, p. 40.)
BELT RAILW AY (OF CHATTANOOGA, TENN.)— Owns 49 miles of
belt railroad In Chattanooga, Tenn. V. 67, p. 72.
Leased till July 1 1945 to Alabama Great Southern R R .; rental guaranteed
to meet Interest on first mtge. bonds, taxes and maintenance
STOCK
Is $300,000, owned by Alabama Great So. Ry. There are also $24,000 2d
M. 4s. due 1945, redeemable at par; coup, paid Jan ’01 to July ’09 Incl.
BELVIDERE DELAW ARRRR.— Owns from Trenton, N. J., to Manunka Chunk, N. J., 67 miles; Flemlngton R R . &c., 14 miles; total operated,
81 miles. Leased to United Companies, and transferred to Pennsylvania
R R . March 7 1876. Net earnings paid as rental.
Dividends.— 1897 to 1906, 5 %yrly; ’07 t o ’ 09,10% yrly; D eo.’ 09, 5%(s-a.)BONDS.— All of the outstanding bonds are secured by the consolidated
mtge. of 1875 for $4,000,000; sinking fund, 1% of outstanding bonds If
earned. The Issues of 1885,1887 ana 1903 are guaranteed by the United
New Jersey RR. & Canal Co. Guaranty, V 76. p. 918.
EARNINGS.— In 1908, gross, $1,711,334; net, $438,522: other Income*
$33,899; Interest, taxes, &o., sinking fund and other charges, $298,4901
dividends (10% ), $125,300; surplus, $48,630.— (V. 84. p. 748.)
BENNINGTON & RUTLAND RY— See Rutland R R .— (V. 70, p. 685.)
BERKSHIRE RR.—State Line. Conn , to Mass — N. Y . State Line
23 miles; Vandcusenvllle. Mass., to Pittsfield, 22 miles; total, 45 miles. A
consolidation In 1905 with Stockbrldge & Pittsfield and West Stockbrldge
R R . V 80. p 2219
Leased April 1 1893 for 99 years to N. Y. N. H. &
H. RR. for expenses, taxes and 6% on stock, paid Q-J 15 at Housatonlc
National Bank, Stockbrldge, Mass. Stock, $1,078,700, of which N. Y. N. K
& H. June 30 1909 owned $816,000.— (V. 80, p. 2219.)
BESSEMER & LAKE ERIE RR.— Leases Pittsburgh Bessemer & Lake
Erie R R ., Bessemer, near Pittsburgh, Pa., to Conneaut Harbor. Lake Erie,
&c., with branches, a total of 209 miles, for 999 years from April 1 1901;
owns 9 miles; total, 218 miles. V. 72, p. 137. Authorized to operate a
railroad from a point of connection with the Pittsburgh Bessemer & Lake
Erie at or near Kremls Station, Pa., to a point on the Jamestown & Franklin
RR. near Salem Station, Pa. Stock, authorized, $500,000. Controlled by
the Carnegie Co. and so by U. S. Steel Corporation. Guaranty of Marquette
& Bessemer Dock & Navigation bonds, V. 77, p. 1228; V 76. p. 1358;
V. 82, p. 160.— (V. 82, p. 160.)
BIRMINGHAM & ATLANTIC RR.— Talladega to Coal City, Ala., 31
miles; branches, Rogans to ore beds, 9 miles, and Furnace to Welslngers,
3 miles; total, 43 miles. Stock, $1,000,000, all common; par of shares,
$100. Bonds, $500,000 40-year first 6s due Nov. 1 1931 ($1,000 each);
Interest, payable M&N, In default. Year ending June 30 1908, gross.
$32,571; net Income, $6,449; taxes, &c., $2,761; bond interest, not paid
Pres., Sidney H. March: Sec. & Treas., John Carlsen, 25 Broad St., N. Y„
BIRMINGHAM TERMINAL CO.— Has under construction passenger
terminals at Birmingham. Ala. Stock all owned by the Illinois Central.
Southern Ry., Seaboard Air Line, Central of Georgia, St. Louis & San Fran­
cisco and Alabama Great Southern, which Jointly guarantee the bonds.
Of the bonds ($3,000,000 authorized) $1,500,000 are reserved tor additional
properties. V. 83. p. 1227; V. 85, p. 404. — (V. 85, p. 404.)
BLOOMSBURG & SULLIVAN RR.— Owns Bloomsburg to Jamison City.
Pa.. 30 miles. Stock Is $600,000; par, $50. V. 66, p. 80,952. Year
ending June 30 1908, gross. $104,447; net, $46,950; other Income, $3,377;
jnterest, taxes,&c.. $35,887; balance, surplus. $14,440.— (V. 6 6 ,p. 80, 952.)
BOCA & LOYALTON RR.— Owns from Boca, on Central Pacific main
line, northwesterly via Loyiilton to Beckwith. 40 miles; 6 miles additional
main line and 10 miles of branches; total, 56 miles. The Den. & Rio Gr.
June 30 1908 owned 51% of stook.
Stock, $1,200,000; par of shares, $15. Bonds cover also Roberts Lumber
Co.’s property, comprising 52 769 acres of pine lands, water-works, &c.
Mercantile Trust Co. of San Francisco Is mortgage trustee. They are sub­
ject to call for sinking fund at 110 and Interest. V. 76, p.1191. For year
ending June 30 1909, gross, $201,645; net, $98,270; charges, $80,092; bal.;
sur., $18,268.— (V. 81, p. 667.)
BOLIVIA RY.— V. 89, p. 1667; V. 90, p. 107.
BOONVILLE ST. LOUIS & SOUTHERN R Y .—Boonville to Versailles,
Mo., 44 miles. In July 1909 an extension of lease to Mo. Pac. had been
arranged for 99 years from July 1 1910 at annual rental of $25,000, taxes,
expenses, &c.; also a new Issue of $400,000 of 99-year bonds bearing a lower
rate of Interest to refund the old 6s due Aug. 1 1911. V. 89, p .284 . Stock,
$250,000; par of shares, $125.— (V. 89, p. 284.)
BOSTON & ALBANY R R .—Owns from Boston, Mass., to Albany, N. Y .*
200 miles; branches, 104 miles; leased lines, 88 miles; total, 392 miles.
Leased In 1900 for 99 years to the New York Central & Hudson River RR.
for guaranteed rental of 8% per annum on the $25,000,000 stock,payable
quarterly (March 30, &c.), organization expenses, Interest on bonds, taxes,
expenses of maintenance, &o.
The B. & A received for certain property
not Included In the lease $5,500,000 In N. Y. Central 3 44% 100-ycar deben­
tures, thus adding .77% per annum to 8% guaranteed on stock. See lease
In V. 69. p. 282; V 69, p. 1061. 1102. 1246; V. 70, p 74; V. 71, p. 645,
963
Bonds of 1901, $2,500,000. wore for terminal facilities at Boston, of
which $1,000,000 Issued. V. 71. p. 1218; V. 72, p. 44; V. 75, p. 752.
In 1908 $7,000,000 25-year 4% bonds were sold, guaranteed prln. and
lnt by New York Central & Hudson River RR. No mortgage can be
olaced on the nrooertv without Jointly Including the b o n d s In the lien.
V. 86. p. 1099, 1158, 1466, 1528; V. 88, p. 09. In June 1909 Issued $4,500,­
000 25-year 4% bonds for additions and Improvements. V. 88, p. 1060;
V. 89. p. 102; V. 89, p. 161.
DIVIDENDS.— Since 1900 8M % , viz.: 2% each In March and Sept.,
2 J4 % In June and 2 M % In December.

Jan., 1910.]




RAILWAY STOCKS AND BONDS,

21

22

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
Bos & Low— Stk auth ($;,119,400)
Bonds 20 years not mortgage------ See description
Bonds
do
do
------ In “ Investors’
Bonds
do
do
------ S u p p lenient"
Bonds
do
do
------ of Apr., 1895,
Bonds
do
do c*------ p. 2.
Bonds
do
do c* ___ Boston&Malne
Bonds
do
do
___ gives a rental
Bonds
do
do
------ guaranty for 99
Bonds
do
do
c ----- years,
Bonds
do
do
___
Bonds
do
do
----- .
Boston & Maine— Stock, common and scrip...........Oil
Preferred stock 6% non-cumulattve___________ OB
Improvement bonds s f not mortgage or subj to call.
Bonds (not mortgage) for Improvement & ref-.c& r
Bonds (not mortgage) g o ld ----------Bonds exchanged for Fitchburg stock (V 70 p 175).
Bonds (not mortgage), $1,000,000
Bonds 52,000,000 (not mortgage).
Bonds (not mortgage), 20-year___
Bonds (not mortgage), currency—
Bonds (not mortgage) 512,000,000. .....................c&r
Portsmouth Great Falls & Conway 1st M assumed..
Boston & Providence— Stock 10% guar 99 yrs Old Col
Bonds, not mortgage........................
Boston Revere Beach & Lynn— Stock.......................-First mortgage 51,000,000 g o ld ... .............SB.c*&r
Boston Terminal Co— First mortgage curr----- OB.c&r
Brinson Rv -1st M, $2,250,000, gold red 110--------c*
Brunswick & Western—See Atlantic Coast Line R R .
Buffalo Cr— Con (now lst)M 51,000.000 g Int as rente*
Buffalo New York & Erie— See Erie Railroad
Buffalo Rochester & Pittsburgh—Common stock..Tr
Pref stock non-cum common 6% then pro rata.-Tr
R & P 1st M gold Rochester to Salam anca-.. Un.c*
R & P con M g __________________
B R & P first gen mtge (510.000,000) g o ld ...U n .c*
Line P & Chari 1st M gold guar----- .................Un.c*
B R & P consol mtge $35,000,000 go1d-_Ce.x.c*&t

Miles Date
Road Bonds
1892
1893
1895
1896
’97-'98
’ 99-'01
1903
1905
1906
___ 1907
1909
.„
__
__

1887
1892
1894
- - - 1900
__ _ 1901
__ 1903
. . . 1905
__ 1906
__ 1909
73 1877
68 ___
__ ’ 88-’93
_ _ ___
9 1897
__ 1897
__ 1908
6 1891
__
__
109
260
275
10
348

___
1881
1882
1887
1889
1907

Par
Value

Amount
Outstanding

5100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
100
1,000
1,000 &c
1,000
1,000
1.000
1,000
1.000
1,000 &c
1.000 &c
500 &c
100
1,000
100
1,000 &c
' 000 &c
100 &t
1,000

Rate
%

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

S e text.
8
J & j Jan 3 1910 4%
$1,000,000
4
A & o Apr 1 1932
1,000,000
4
F & A Feb 1 1913
4
500,000
M & S Mch 1 1915
750,000
4
J & J July 1 1916
4
414,000
A & O Oct 1917 & 1918
939,000
3)4 .1 & J 1919 & 1021
250,000
3)4
M & N May 1 1923
500,000
M & S Sept 1 1925
3)4
4
500,000
M & N Nov 1 1926
4
325,000
J & J July 1 1927
4
350,000
A & O April 1 1929
28,841,690 6 In 1909
d—* Jan 3 19101)4%
3,149,800
6
M & s Sept 1 1909 3%
4
F & A Feb 1 1937
1,919,000
4
2,500.000
F & A Aug 11942
6,000,000
4)4 g J & J Jan 1 1944
5,454.000
3 g. .1 & J July 1 1950
1,000,000
3)4 M & N Nov 1 1921
2,000,000
3)4 J & J Jan 1 1923
500,000
F & A Feb 2 1925
3)4
4
10,000,000
M & S Sept 1 1926
11,700,000
4)4 A & O April 1 1929
1,000,000
4)4 J & D June 1 1937
10
4.000,000
j —.
Jan 1 1910 2)4
4
2,170,000
J & J July 1 1918
850.000 6 In 1909 J & J Jan 1 1910 3%
850,000
4)4 g J & J July 15 1927
14,000.000
Text
Feb 1 1947
3)4
See text
M
5g
N May 1 1938

1,000,000
5g J
100 10,500,000 4 In 1909 F
100
6,000.000 6 In 1909 F
1.000
1.300,000
F
6g
1,000
3.917.000
6g J
1,000
4,427,000
VI
5g
1 ,000
350.000
r
5g
1,000 &c 4 ,735 ,000
4)4 g M

EARNINGS as reported to State Railroad Commission by lessee:
Year—
Gross.
Net.
Other Inc. Int..dlvs.,&c.
Balance.
1007 08.........J l l ,970,145
5608,601
58,543 52,545,072 del.51.027,838
1006-07-......... 12,007,301 1,943,104 392,141 3.557.706 del.1.222,551
— (V. 86, p. 1466, 1528; V. 88, p. 09, 1060, 1436; V. 80. p. 102, 161.)
BOSTON & LOWELL RR.— ROAD.— Owns Boston to Lowell, 26 miles’
branches— Salem and Lowell, 17 miles: Lowell snd Lawrence, 12 miles,
others, 45 miles; Middlesex Central, 11 miles; leases— Connecticut & Passumpslc, 146 miles; Nashua & Lowell, 15 miles; Peterborough, 10 miles;
Northern N. H., 83 miles (and subsidiary Hues 00 miles): Stony Broolr R R .,
13 miles; Wilton R R ., 15 miles. Leases mostly assumed by Boston&Malne.
Leased In 1887 for 00 years to the Boston & Maine at 7% per annum O"
stock till Jan. 1 1897 and 8% thereafter. The stockholders voted Jan. 5
1910 to increase stock from 56,840,400 to 57,119,400, the 5270,000 new
stock to be Issued for additions and Improvements. V. 89, p. 1667.— (V.
00, p. 108.
BOSTON & MAINE RR.— ROAD.— The system with Its many branch
lines covers the territory from Boston, Mass., to Portland, Me. (two divi­
sions), Springfield, Mass., Sherbrooke, Can., Rotterdam Jet. and Troy
N. Y ., Worcester, Mass., to Portland. Me., and most of New Hampshire.
In 1900 the Boston Railroad.Holding Co. (which see below) acquired In
the Interest of the N. Y. N. H. & H. a large part of B. & M. stock.
Lines leased— (Concluded) . Miles.
Lines owned.
Miles.
Fitchburg..................................... u458
Boston, Mass., to Portland, Me.,
nl5
via Western Division............... 115 Nashua & Lowell----------Boston to Portland, Eastern Dlv. 108 Worcester Nashua & Rochester. a94
Connecticut River R R ................. a81
Conway June., Me., to North
Conway, N. H .................
73 Other ........................................... 72
0
Portsmouth Electric R y _______ IS Trackage r ig h ts...........................
Portland, Me., to Rochester,
N. H ........................................... 54 Total operated July 1 1000____2.288
2d track (3d & 4th track, 10) 564
North Cambridge Jet. to North
ampton. Mass_______________ 06 Controls Maine Cent. System . 1,164
St. Johnsbury & Lake Champ 131
Sundry branches.....................
148
Yurk Harbor & Beach_______ 11
Lines leased, a See this company.
Vermont Valley____________
24
Boston & Lowell_______________ a469
Concord & Montreal...............
_______
a478
Sullivan County____________
26
Boston & Maine guarantees 51,328,000 first 5s of St. Johnsbury & Lake
Champlain
Also Interest on 5274,000 Manchester & Lawrence 4s Jointly
with Maine Central guarantees 5300,000 Portland Station bonds.
DIVS. SInce’ 92/ ’ 93. ’04-’ 98. ’ 99. ’00 to July ’08. 1908. ’09. 1910.
C om m on_____% ( 8 6 y ’ly. 6 lA
7 yearly.
Oct., 1)4 6 Jan., 1)4
BONDS.— As to debentures, see Issue of AprilI1895.
EARNINGS.— 5 m os.,11909..........Gross, 519.310,827; net, 56,517,713
July 1 to Nov. 30.
j 1908_____Gross, 17,283,373; net, 5,435,673
ANNUAL REPORT.— Annual meeting second Wednesday In Octoner.
Annual report 1908-09 In V. 89, p. 841, showed results as below. Com­
parisons with 1906-07 are slightly Inaccurate.
1006-07.
1907-08.
1908-09.
Passenger................................................. 513,620,661 513,844,226 513,763,606
Freight ................................................. 24,780,454 22,486,065 23,014,439
2,660,458
2,750,563
Mall, express, &c.................................. 2,650,410

[V O L . LXXXX,

At Office
do
do
do
do
do
do
do
do
do do
do
do
do
do
do
do
do
do
At Off.Causewav St Bos
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New York and Boston
do
do
Boston Term. Room 424
do
do
Office, or checks mailed
State St Trust Co, Boston
State National Bk Bost
Savannah (Ga.) Tr Co

&

J Jan 1 1941

&
&
&
&
&
&
&

A Aug 15 1909 2% 36 Wall St. New York
A Aug 16 1909 3“o
do
do
A Feb 1 1921
do
do
D Dec 11922
do
do
S Sept 1 1937
do
do
J Jan 1 1939
do
do
N May 1 1957
do
do

Treas.. 50 Church St.NY

441,125. V . 89, p. 992. The company, it Is stated, has acquired, or con­
tracted to acquire, “ a substantial control of the outstanding stock” of the
B. & M. The Blllard Company, an allied B. & M. holding company, in
Oct. 1909 Increased its share capital from 550,000 to 52,000,000.
Pres., Frederic C. Dumalne, Concord, Mass.; V.-P., Walter C. Baylles,
Boston; Sec., Robt. M. Burnett, Southboro, Mass.— (V. 89, p. 992.)
BOSTON REVERE BEACH & LYNN RR.— Owns narrow-gauge road
from Lynn to East Boston. Mass.. 9 miles, connecting with Boston by com­
pany’s ferry-boats; WInthrop Division, East Boston to Wlnthrop. 5 miles.
In Sept. 1908 5379,100 stock was acquired by Estabrook & Co. V. 87, p.
676. Of the 414s of 1897, balance unissued Is for Improvements. V. 65,
p. 68: V 83, p. 379. Notes payable July 1 1909, 5290.000.
DIVS. 1’88-’91. ’ 92. ’ 93. ’94. ’95. ’ 96. ’ 97 t o ’05. ’06. ’07. ’08. '00. 1910.
P. C..J7 yrly. 5)4 5 4>4 4
3
2 yearly. 4
5
6
6 Jan., 3
Yr. end. June 3 0 — Gross.
Net. Int.&taxes. Divs. paid. Bal.,sur.
1908-09.....................5863,475 5121,533 569,493 (6%)551,000
540
1907-08.................. . 834,021
123,415
71,332 (6%) 51,000
1,083
— (V, 81, p. 1722; V. 83, p. 270, 379; V. 84, p. 1365; V. 87, p. 676.)

BOSTON TERMINAL CO.— Owns Southern Union Depot In Boston
opened In 1899. V. 68, p. 40; V. 69, p. 591. Boston & Albany, New Eng­
land. Boston & Prov.. Old Colony and N. Y. N. H. & Hartford R R . Cos.
each owns one-flfth of the 5500,000 capital stock and pay as rental In monthly
Installments sums sufficient to pay ail expenses, charges. Interest on bonds
and 4% on stock. These companies are Jointly liable for any deficiency In
case of foreclosure. Reg Int. payable Q-F; coupons F&A.— (V. 87. p. 224.)
BRINSON RY.— Owns Savannah, Ga., to Mill Haven, 72 miles, com­
pleted Sept. 1909. This Includes the former Savannah Valley R R ., ex­
tending from Egypt to Mill Haven. Ga., an 18-mlle connecting link being
built. The road as projected will extend from Savannah to Athens, 180 m.
Stock authorized, 51.000,000, which may be Increased to 55,000,000.
Stockholders April 6 1908 authorized an Issue of 52,250,000 bonds at 510,000
per mile for the first 100 miles and 515,000 per mile for remainder of road.
V. 86, p. 720, 1158. Pres., Geo. M. Brinson. Office, Springfield, Ga.
— (V. 86. p. 720. 1158; V. 88, p. 944.)
BUFFALO CREEK RR.— Owns 6 miles of terminal road In Buffalo, N.Y.
In December 1889 leased for term of charter less one day to the Lehigh Val
ley and the Erie R R ., which together own entire capital stock of 5250,000.
Rental Is Interest on bonds and 7% on stock.— (V. 84. p. 50.)
BUFFALO ROCHESTER & PITTSBURGH RAILW AY.— (See Mav.i—
Operates from Buffalo and Roch.. N. Y ., to bituminous coal regions.
Lines owned in tee—
Miles.
Trackage (Concluded) —
Miles.
Buffalo Creek, N. Y ., to Mt.
Willow Grove to Pittsburgh, P a. 7
Jewett, Pa................................... 100 Penn. R R .— Penn. RR. Jet. to
Clarion Jet. to Lindsey, Pa. . . .
60
Shuman Run Y, Pa................... 19
Rochester to Ashford, N. Y . . . . 94 Other.......................
6
Charlotte, N. Y .. to Lincoln Park 10
Leased— Stock not owned—
Indiana Branch________________ 63 Allegheny & Western— a
Punxsutawney to Butler. Pa.,
Five branches__________________ 20
Trackage—
&c. — ------- — - ---------. . . . . . . 66
Erie—Mt Jewett to Clarion J e t.. 21 Clearfield & Mahoning—a
Baltimore & Ohio—
Clearfield to Beech Creek R R .. 26
Butler, Pa., to Newcastle........ 41 Mahoning Valley R R ..................... 2
■
SB
£5
------------------------- -----------RIbold Jet. to Allegheny C ity .. 33
Total operating revenues...................541,060,525 538,900,740 530,528,698
Total July 1909J(a See separate statement for this company)...............568
Net Income (after taxes)____________ 59,825,586 59,064,135 510,177,225
Rentals, sinking fund, &c........................................... 6,542,734
5,030,265
ORGANIZATION, ETC.— Successor In March 1887 to the Rochester A
Interest accrued................................ .......................... 1,760,905
1,859,357 Pittsburgh, which was foreclosed in Oct. 1885, per plan In V. 41, p. 516,
Additions and betterments____________ ________
80,537
41,099
The entire capital stock (54,000,000) of the Rochester & Pittsburgh Coal
Dividends on preferred stock, 6 % _______________
188,988
188,988
& Iron Co. was owned (V. 66, p. 1088) and through that company In May
Dividends on common stock __________________ (7)1,891,633 (6)1,628,373
1896 control was acquired of the Jefferson & C^arHeld Coal & Iron Co. (see
that co. under "Industrials” ) with 53 000,000 stock. In 1906 the stock
Balance____________________ : ______ _____ a def.51,409,662 surS529,143 of the Roch. & Pitts. C. & I. Co. was transferred (subject to the lien of the
a The deficit, 51.409,662, In 1907-08 was decreased by 5543,206 “ con­ general mtge.) to the Mahoning Investment Co., having 54,200,000 author­
tingent fund” representing unappropriated surpluses for 6 years ended ized stock In 5100 shares, in consideration of 54,125,000 stock, the latter
June 30 1907,” leaving deficit for year 5866,456.
being distributed Dec. 1006 pro rata In proportion of 25% among the
OFFICERS.— Pres., Lucius Tuttle; 4th V.-P. and General Auditor, holders of Ry. common and preferred stocks. V. 83, p. 1468. V. 85 p.
W. J. Hobbs; Treas., Herbert E. Fisher. Office, Boston.
414, 415, report, V. 87. p. 542. For bonds of these coal companies see
Directors.— Chas. S. Mellen, Samuel Hemingway, New Haven, Conn.; Mlseel Cos. nioariVId A Mahonlne securities are guaranteed; Allegheny
J. P. Morgan, New York; Lucius Tuttle, Richard Olney, J. M. Prendergast, & Western, see that company. Lake Ontario Car Ferry, V, 83, p. 329;
Alexander Cochrane, Amory A. Lawrence, Boston; Robt. M. Burnett, V. 87, p. 486; V. 89, p. 417.
Southboro, Mass.; Walter C. Baylles, Taunton, Mass.; Philip Dexter,
DIVS. (% ) — )’97. ’ 98. ’99. ’ 00. ’ 01. ’ 02. ’ 03. ’04 t o ’06. *07. ’08. 1009.
Beverly, Mass.; Theo. N. Vail, Lyndon, Vt.; A. W. Sulloway, Franklin, Preferred.........|
1
2
2
6
6
6
6 6 yearly 6
6
6
N. H.; Wm. Whiting, William Skinner, Holyoke, Mass.; Fred. C. Du4
4 5)4 6 yearly 5)4 4)4
4
malne, Concord, Mass.; Edwin F. Greene, YVayland, Mass.; Fred. E. Common.......... I ............................
The
Mahoning
Investment
Co.
In
Aug.
1907
and
March
1908also
paid
2%
Richards, Portland, Me.; Edward P. Ricker, South Portland, Me.; Execu­
tive Committee, Lucius Tuttle, Charles S. Mellen, F. C. Dumalne, Samuel dividend on Its stock; Aug. 1908, 2% ; 1909, none. V . 88, p. 685. Com­
Hemingway, J. P. Morgan, Richard Olney and Alexander Cochrane.— pare "Organization” above. V. 85, p. 283.
BONDS.— General 5s for 55,573,000 are reserved for prior bonds, &c.
(V. 89, p. 161, 347, 408, 841, 846, 992, 1346; V. 90, p. 235.)
The 535,000.000 50-year consols are to bear not over 4)4% Int., $3,000,­
rTBOSTON & PROVIDENCE R R — Owns Boston Mass., to Providence, 000
were Issuable at once, 518,145,000 to retire underlying obligations at
R^ I.. 44 miles; branches 20 miles. Leased 00 years April 1 1888. to Old
before maturity and the remaining 513,855,000 to be reserved for future
Colony RR.; rental 10% yearly on stock. In June 1007 a law was signed or
requirements
after July 1 1908 at not over 51,500,000 yearly In 1008 or
permitting consolidation with Old Colony R R .— (V. 84 p. 1487.)
subsequent calendar years, or such larger amount In any year as stock­
BOSTONJRAILROAD HOLDING CO.— Incorporated In Massachusetts holders may authorize. V. 84, p. 867, 1306: V. 85, p. 39, 414; V. 86, p.
June 18 1909 under special Act with power to hold securities of Boston & 3 3 6 ;V. 87, p. 1009.
Maine. The 5100,000 original stock Is to be held by the Incorporators or
A sinking fund of 5% will retire series A, B & 0 equipment bonds annually
their successors. See law, V. 88, p. 1618. The N. Y. N. H. & Hartford on May 1. If purchasable at or below par; otherwise to bo applied to the pur­
will own or control the remainder of the stock and all the bonds to be Issued chase of additional equipment. V. 68, p. 1131; V. 71. p. 501; V. 73, p. 348.
and may perhaps guarantee the latter to investors.
Series D and E have an annual sinking fund of 6% for purchase of bonds
On Oct. 4 1909 took over 510,994,800 B. & M. stock at 5140 per share, Sept. 1 and May 1, respectively, at 105 and Interest; if not purchasable,
payable 515 In stock and 5125 in 4% 50-year bonds redeemable at 105, bonds may be drawn by lot; Series E may also be called as an entirety at 105.
calling for 51,649,000 stock and 513,743,500 bonds. V. 89, p. 161, 528. Series F may be purchased by sinking fund at not over par or drawn by lot
In Oct. 1909 asked permission to purchase 51,575,500 additional B. & M. at par and mav also be drawn at 102 and Interest on any Interest day. V.84,
common stock at 5154 per share, payable 5125 In 4% bonds and remainder p. 1365; V. 85, p. 283, 414, 863. Series G have an annual sinking fund
In stock; also 5582,600 pref. stock at 5162, payable 5125 In 4% bonds and equal to 6% of bonds Issued, but cannot be called. V. 89, p. 468. Real
537 In stock, making a total of 512,570,300 B. .& M. common out of $28,­ estate mtges., 5)4% , 560,000.
271,790 outstanding and 5582,600 pref. out of 53,149,800 to be owned.
EARNINGS.— 5 mos.,11909_______ Gross, 54,002,874; net, 51,594,187
This will increase the company’s stock to 52,421,600 and the bonds to 516,July 1 to Nov. 30.
j 1908.............. Gross, 3,166,175; net,
040,874




CO

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RAILWAY STOCKS AND BONDS.

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MAP OF THE

CAN AD IAN NORTHERN

[S n o h o m isl

RAILWAY
[G rea t F a lls

A N D CONNECTION'S
SCALE Q,F MILE9

[VOL. LXXXX.

RAILWAY STOCKS AND BONDS.

21
X

--

--------- s---- T " , ......: =

RAILROAD COMPANIES
(For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

$500,000
1,000
1899
4X g
Buff R & P (Con) Equip bds $500,000golds f Ser A . G.c*
1,995,000
1.000
1900-1
g
do
do
B & C($995,000 Ser B)each gold s f_0
1,417,000
1902
1,000
4^ g
do
do
D $2,000,000 gold red 105 sink fund..
1.716 000
1904
1.000
4M g
do
do
E $2,000,000 gold red 105 sink fund..
2.<"61,000
1907
1,000
do
do
F $3,000,000 gold red sinking fund__
4H g
740,000
1,000
1909
4g
do
do
G $3,000,000 gold sink fund........._G
4
50 4,656,900
Buffalo & Susquehanna RR— Common stock guar 4%
4
50 4,000,000
Preferred stock 4% nori-cumulatlve guaranteed 4%
61,500
500 &c
102 1893
5g
First M gold sinking fund redeem at par— Me.c*&r
9,510,000
265 1901 1,000 &c
First refunding mortgage gold (see text). -Alp.c*&r
4g
1903 1,000 &c
6,000.000
Buffalo & Susq Ry— First M $6,000,000 goId.Us.c*&r
4^ g
1906
563 ,000
1,000
5
Equipment trust bonds $44,000 due seml-an. Usm.c
1907
405,000
5
1,000
do
do
Ser B (V 85 p 39) $27,000 s-a.-U sm
1907
1,000
675,000
5
do
do
Ser C (V 85 p 283) $45,000 s-a.PcP
1907
1.000
225,000
5
do
do
Ser D $15,000 semi-annually--------Bullfrog-Goldfield RR -See Tononah & Tidewater Rv
Burlington Cedar Rapids & Northern— See Chicago R ock Is! and & Pacific R y and also Rock Isl
Burlington & Missouri Valley— See Chicago Burllngto n & Q ulncy.
__ 1907
1,000
165,000
Burr’ s Ferry Browndel & Chester— First M gold -.x c*
6g
California Pacific— See Southern Pacific R R .
27 1905
1,000
363,000
Cal W RR & N— 1st M $700,000 gold guar s f (text) .c*
5g
103 1891
1,000
Cambria & Clearfield— 1st M ($2,000,000) g ----- GP.c*
1,279,000
5g
30 1882
500 &c
6
Bell's Gap consol M sink fund not drawn— GuP.c*
145,000
46 1886
500 &c
6
1,000,000
Clearfield & Jefferson first mortgage-----------GuP.c*
76 1890
Pennsylvania & N W gen M $2,500,000------- GuP.e*
1.000
1,021,000
5
392 1905
1,000
1,255,000
Cambria & Clearfield general mortgage gold---------4g
30
25
381,925
6
Camden & Burlington County— Stock 6% guaranteed
30 1897
1.000
350,000
First M g gu p & 1 by Un N J RR & Can C o..G P .c*
4g
14,384,644
396 1905
$ or £
Canada Atlantic— Con (now 1st) M g gu p & 1...........
4g
1906
150,000
4
37 1909
475 iOOO
1,000 Worthless
100 15,000.000 See text
457
Canada Southern— Stock------------ -------- ---------------404 1878
$1,000 $14,000,000
1st M ext In 1908 (Can money).............. - ............. .
cg
404 1883 1,000 &c
6,000,000
5
Second M for $6,000,000 (Can money)
do
c&r
1,000
16 1895
130,000
Leamington & St Clair 1st M g gu p & 1 (end). . . c*
4g
f
125 1896
£100 1
4
£100 \
177 1899
4
See
\
£100 f text.
108 1899
Manitoba & S E (assumed,‘ $8,000 ner mile! Man.
4
£100 J
27 1900
4
l
BUFFALO ROCHESTER & PITTSBURGH RY. (Concluded).
ANNUAL REPO RT.— Fiscal year ends June 30. The annual meeting
Is held at New York on the third Monday In November. The report tor
1908-09 was given at length In V. 89, p. 407, 416.
In 1908-09 carried
5,186,043 tons of bituminous coal (out of 8,008,990 total tons of freight
moved), against 5,849,240 In 1907-08.
Yr.end. June 30. 1908-09. 1907-08. Yr.end.June30. 1908-09. 1907-08.
Oper. revenue $7,171,897 $7,484,028 Int. on bonds.$1,126,415 $1,103,664
Op.exp.&taxes 4,798,805 5,522,679 Miscellaneous.
12,484
13,203
Dlv.on pf.stk.(6) 360,000
360,000
Oper. Income.$2,373,092 $1,961,349 Dlv. on com.
stock...........(4)420,000 (5)525,000
Net (Incl. other
Incom e____ 2,809,905 2,787,451
Bal., su rp .. $249,939
$137,989
641,067
647,595
Rentals______
1906-07.
1905-06.
1904-05.
Old Basis
1907-08.
568
568
538
368
Miles June 3 0 ___________
Gross earnings_________ $8,263,595 $8,595,916 $7,797,248 $8,138,275
Net earnings..................... $2,914,335 $3,149,921 $3,000,882 $2,848,733
OFFICERS.— Pres., Adrian Iselln Jr., N. Y.: V.-P. and Gen. Mgr.,W. T.
Noonan; V .-P ., W . Emlen Roosevelt, N. Y .; Treas., J. F. Dinkey, Roches­
ter; Sec. and Asst. Treas., Ernest Iselln,- N. Y.
Directors— Henry G. Barbey, A. Iselln Jr., Wm. E. Iselln, A. Lanfear
Norrle, Walter G. Oakman, C. O’D. Iselln, W. T. Noonan, George Emlen
Roosevelt, W . Emlen Roosevelt, Ernest Iselln, Oscar Grlsch, Samuel Woolverton and Harry Yates. N. Y. office, 36 Wall St.— ((V. 89, p. 1346,1410.)
BUFFALO & SUSQUEHANNA R Y.— {See M ap.)— Owns from Wellsvllle, N. Y ., to Buffalo, 86 miles, and leases the Buffalo & Susquehanna RR.
for 999 years from July 1 1007 for Interest on bonds and guaranteed divi­
dends of 4 % yearly on the capital stock. By this lease and Its ownership
of the entire com. stock of the B. & S. R R ., the company controls road ex­
tending from Wellsvllle, N. Y ., to Sagamore, Pa., about 60 miles north of
Pittsburgh, which, with Its several branches, has a total mileage of about
270 miles. Total mileage owned and leased, 362.
The plants of the Buff. & Susq. Coal & Coke Co. and of the Powhatan
Coal & Coke Co. (V. 75. p. 922; V. 79, p. 2061, 2091-92) are located on the
lines of the B. & S. R R . The Buff. & Susq. Iron Co., owning two blast
furnaces at Buffalo, acquires Its entire supply of coal and coke from the
plants of the Powhatan Coal & Coke Co. See V. 75, p. 922; V. 79, p. 2061,
2092. Connection Is made at Buffalo with the Buff. & Susq. SS. Co.,
owned by affiliated Interests.
STOCK.— Authorized, $10,000,000; Issued, $10,000,000; par, $100.
BONDS.— The first 50-yr. gold 4 Hs (authorized Issue $6,000,000, all
outstanding) are secured by a first lien on the terminal property at Buffalo
and the 86 miles of railroad In New York State: also by deposit with the
trustee of all the $4,656,900 com. stock of the Buff. & Susq. R R . Co. V.
74, p. 1040. See V. 76, p. 593; V. 79, p. 2695.
EARNINGS.— 5 mos., 11909 .............. Gross, $1,085,592; net, $209,867
July 1 to Nov. 30.
J1908 ________Gross,
964,455; net, 201,048
REPO RT.— For year ending June 30 1908 In V. 88, p. 448 (355 average
miles), showed gross revenue, $2,024,888; net over taxes, $167,370; other In­
come, $443,329; Interest, rentals, &c., $1,205,625; bal., def., $594,926.
b.
Partial Statement of Entire System— Year ending June 30 1909.
Fiscal
Operating
Net (.after
Other Inc.
Other Inc. Oross CorYear.
Revenue.
Taxes.)
(Operation) . (Investm'ts) . porate Inc.
1908-09...$2,299,294
$290,130
$124,141
$146,194
$560,465
1907-08... 2,025,472
119,120
167,244
138,060
424,424
OFFICERS.— Pres., Chas. W. Goodyear; Sec. and Treas., F. A. Lehr.
Office, 962 Elllcott Square, Buffalo, N. Y .— (V. 88, p. 448, 451.)
BUFFALO & SUSQUEHANNA R R .— (See M ap.)— Owns from Saga­
more, Pa., to Wellsvllle, N Y .. with several branch lines, Including 17 miles
trackage. Total mileage, 270. From July 1 1907 the company Is leased to
the Buffalo & Susquehanna Railway for Rental of Interest on bonds and
•dividends of 4% on capital stock. V. 85, p. 1266.
Stock.— Common stock, all except directors’ shares, owned'by B. & S.
Ry , $4,656,900; par of shares $50. Pref.. $4,000,000 4% non-cum.; par,
$50. See application to list, V. 78. p. 2389; V. 82, p. 568
Dividends.— On com., 4% In 1895 and 5% yearly to 1907; In 1907, 4%
paid Q-J. Under lease to B. & S. Ry. dividends are payable at 4% per an­
num. On pref., 1% quar. Mch. since date of Issue, beginning Sept. 1902.
Bonds.— The 5s of 1913 have been reduced, by the operation of the sinking
fund and by refunding Into 4s of 1951, to $61,500. They are subject to call
at par for sink. fd. In order of numbers, beginning with highest V. 65, p.234.
The 4s of 1951 are secured by a first refunding mtge. on the entire prop­
erty, subject only to $61,500 first 5s above mentioned, and are further
•secured by deposits of purchase money mortgages aggregating $3,000,000
on coal lands estimated to be worth $6,000,000; outstanding, $9,510,000.
Further amounts may be Issued at not over $25,000 per mile for the con­
struction or acquisition of additional road; also for new terminals. Total
authorized Issue, $15,000,000; but additional amounts at $15,000 per mile
may be Issued for double-tracking mileage already covered by tne mtge
Sinking fund of 3 cts. per ton of coal mined by coal companies mortgaged
Is Invested In the bonds If purchasable at not exceeding 110%: otherwise In
securities legal for savings banks. Bonds so purchased are kept alive In
sinking fund. V. 73, p. 619, 899; V. 84, p. 748.
BUFFALO & SUSQUEHANNA COAL & COKE CO.— This company,
the stock and 1st mtge. bonds of which are owned by the B. & S. RR., owns
coal lands at DuBoIs, Troutvllle, Onondaga and Sagamore, Pa. These
lands are estimated to be underlaid with about 90,000,000 tons of coal.
Twelve mines In operation. V. 77. p. 1301; V. 79, p. 2091-92; V. 82, p
1322; V. 85, p. 1266. Of the second mortgage bonds, $2,200,000 on
Dec. 1 1909 were outstanding In the hands of the public.
POWHATAN COAL & COKE CO.— This company, all of whose bonds
and stock are owned by the B & S. RR., owns coal lands at Tyler and at
:Sykes, underlaid with about 24,000,000 tons of coking coal. Both Its
coking plants, with capacity of 800 tons of coke dally, are operated, and are
‘shipping to Buffalo for use of Buff. & Susq. Iron Co.— (V. 89, p. 846, 992.)
*
— ' * r& A
“
■




When
Payable
M
M
M
M
A
A
J
c
A
J
M
J
A
F
F

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

& N May 1 1919
36 Wall St., New York
& N May 1 ’20-’21
do
do •
& N Nov 1 1919
do
do
& N May 1 1922
do
do
do
do
& O Apr 11927
& O Oct 1 1929
do
do
& J Jan 1 1910 2%
—M Dec 1 1909 ir< Checks mailed
N Y
& o Oct 1913
Harvey Fisk <&Sons N Y
& J Apr 1 1951
Fisk & Robinson, N Y
& N Apr 1 1953
Fisk & Robinson, N Y
& .1 July’10 July '16 N W Harris & Co, N Y
& o Apr ’ 10 Ayr ’ 17 N W Harris & Co, N Y
& A A ug’ lO-Aug ’ 17 Fisk & Robinson, N Y
& A A ug’ lO-Aug ’ 17 Penn Co for Insur, &c

and Co.
Commonwealth Tr Co StL

A

& O Apr 11937

J
J
A
J
J
F
J
F
.1
M

& J July
& .1 Jan
A C) Apr
& .1 Jan
& .1 Jan
& A Feb
fc .1 Jan
& A Feb
&
.1 Jan
& S Sept

F
J
\1
A

& A Feb 1 1909 1 H Grand Central StatlonNY
& J Jan 1 1913
Union Tr Co New York
<5e S Mch 1 1913
do
do
& 0 Oct 1 1945
Agts Bk of Montreal N Y

F
F

&

1910-1926 First Tr & Sav Bk, Chic
Broad St Station. Phila
1 1941
do
do
2 1913
do
do
1 1927
do
do
1 1930
do
do
1 1955
1910 3% Broad St Station, Phila
1 1927
do
do
1 1955
do
do & Lond
1 1956

A Feb 1 1929
A Feb 1 1929
Nov 1 1930

Can Bk of Com, NY;&Lo

BULLFROG-GOLDFIELD RR.— See Tonopah & Tidewater Ry.
“ BURLINGTON.” — See CHICAGO BURLINGTON & QUINCY R R .
BURR’ S FERRY BROVVNDEL & CHESTER R Y — See page 172.
CALGARY & EDMONTON R Y.—See page 172.
CALIFORNIA-WESTERN RR- & NAVIGATION CO — Owns Ft. Bragg.
Cal., to Alpine, 27 m. Extension from Alpine to head of Noyo River, 9 m..
thence to Wllllts, 9K m., to be begun In 1910. Stock auth., $1,000,000.’
par, $100. Mtge. covers also terminals, railroad wharf and 18,000 acresof
timber land. Bonds are guaranteed, prln. and lilt., by Union Lumber Co.,
and redeemable at 105at endof anyycarlnreverseofnumerlcalorder. The
$420,000 first Issue matures $20,000 yearly, and remaining $280,000 Is to
fall due In equal yearly Installments. On June 30 1908 $62,000 of $445,000
bonds had oeen retired by sink, fund, accumulation on hand being $71,047;
V. 81, p. 1435. Cal. yr. 1907, gross, $254,470; net. $82,262; bond lnt.,
$20,600; bal., sur., $61,662. Pres., Frank Trumbull.— V. 81. p. 1495.)
(THE) CAMBRIA & CLEARFIELD RY.— Cresson Jet. to near Glen
Campbell Branch Jet., 50 m.; Belwood to Fordham, 65 m.; Cresson to Irvona, 27 m.; Kaylor to Black Lick, 37 m.; Vail to Gramplon, 49 m.; Bradley
Jet. to Cherry Tree, 18 m.; branches, 153 m.; total, 399 m. A consolidation
Aug. 1 1903. V. 78. p. 828. Stock. $4,833,850, all of which Is owned by
Penn. R R . Co., which operates road. A full abstractor mtge. securing 5s of
1891 was In V. 52, p. 976. Of the bonds, $500,000 first 5s were on Jan. 1
1909 owned by the Penn. R R . For year ending Dec. 31 1908, gross, $2,­
564,314; net, $347,487; other income, $49,240; lnt., taxes, &c., $375,356;
bal., sur., $21,370.— (V. 77, p. 298.)
CAMDEN & BURLINGTON COUNTY RR.— Owns from Pavonla, N. J..
to Pemberton, N. J., 22.35 miles; branch, Burlington, N. J., to Mourn
Holly, 7.12 m.; connection with P. & L. B. R R . at Birmingham, N. J.,
0.39 m.; total. 29.86 m. Operated by Penn R R ., which guarantees 6%
on stock. Stock, $381,925; par, $25. In 1908, gross, $322,395; net, $310:
loss to lessee under rental, $37,105,— (V. 64, p. 373.)
CANADA ATLANTIC R Y.— Owns Depot Harbor, Ont.. on Georgian
Bay, via Ottawa, to Alburg Jet., 399.57 m.; trackage to Swanton, V t.,
&C..6.66 miles: leases for99 years Central Counties Ry.,Glen Robertson to
Hawkesbury, 22.24 m., and South Indian to Rockland, 16.25 m,; owns
greater part of stock of Pembroke Southern Ry. branch from Pembroke to
Golden Lake. 21,36 m. (V. 82, p. 451, 1101); total. 466.08 m. The Grand
Trunk acquired the road and took It over Oct. 1 1905. V. 81. p. 1174
Canada Atlantic Transit Co., $1,000,000 stock, operates steamers, Depot
Harbor to Duluth, Milwaukee and Chicago. V. 69, p. 954; V. 70, p. 279.
The 50 yr. 4s of 1905 (authorized Issue. $16,000,000; Royal Trust Co.,
Montreal, trustee) are guaranteed, prln. and Int., bv the Grand Trunk:
the unissued bonds are reserved for future requirements. V . 79, p. 967,
1131, 1641, 2454; V. 80, p. 1058. 1727. 2313; V. 87. p. 1477.
In Nov. 1909 negotiations were pending for the Issue of $475,000 Central
Counties Ry. 4% " A ” bonds to retire the outstanding $380,000 5% bonds.

As to Pembroke Southern guaranteed bonds, see V. 82, p. 451, 1101.

STOCK.— $6,199,100 common and $1,000,000 preferred, all Issued.
REPORT.— In 1908-09, gross, $1,820,959; net, $117,595; other Income,
$70,908; Interest on bonds, $599,646; balance, deficit, $411,143.— (V. 87,
p. 1477; V. 88, p. 623; V. 89, p. 347, 528, 777.)
CANADA MICHIGAN & CH1CAOO— Bonds worthless.— (V. 63, p 838.)
CANADA SOUTHERN RY.— (See Maps N. Y. Cent. & H u d.Riv. RR.) —
ROAD.— Main line from Suspension Bridge station. Including the Cantilever
Bridge, to Windsor. Ont., 226 m.; branches to Courtrlght Ont., &c., 231 m.:
total. 457 m., of which 85 miles are nominally owned by proprietary com­
panies. Trackage. St. Thomas to London, Ont., 15 m. Double track,152 m.
Detroit River Tunnel, under construction, see Michigan Central RR
ORGANIZATION, ETC.— The company was chartered In Canada Feb.28
1868 and debt readjusted In 1878. In 1903 made a new lease to Mich. Cent,
for 999 years, the latter guaranteeing dividends on the stock at i y$ /o yearly
to Jan. 1 1910, thereafter %; also authorizing a mtge. to retire existing bonds
and pay for improvements. V. 76, p. 1191, 1247; V. 77, p. 950; V. 84,
p. 803. The $14,000,000 1st 5s maturing Jan. 1 1908 were extended 5
years at 6% Interest, payable In gold, by the Mich. Cent. UR. V. 85, p.
1401.1645. Form, V .86, p. 1041. — (V.85, p. 1401, 1645; V. 86. p. 1041.)
CANADIAN NORTHERN R A IL W A Y .—(See A fap.)-O perates from
Port Arthur, Ontario, on Lake Superior, to Winnipeg, and thence into
Northwestern Canada.
Miles.
Miles.
Port Arthur to Winnipeg---------439 Brandon to Regina....................... 220
15
Winnipeg to Kamsack__________ 279 Delta Jet. to Delta------- ----------Stanley Jet. to Gunfllnt------------ 67 Neepawa Jet. to McCreary J et-- 70
Emerson Jet. to So. Jet--------73 Kamsack to E dm onton............... 548
Carman Jet. to Belmont_______ 119 Slfton Jet. to Wlnnepegosls------ 21
Portage Jet. to International
Thundcrhlll Jet. to End of Steel. 20
Boundary.....................
63 Oakland to T otog a n .-................. 17
Morris to Somerset------------------- 62 Battleford to Battleford Jet-----8
Hartney Jet. to Brandon............ 40 Edmonton to Morlnvllle............. 23
Belmont to Vlrden...................... 91 Edmonton to Stoney Plains------ 21
Gilbert Pis. Jet. to Prince A lbert.361 Greenway to Adelpha................. 52
Rossburn Jet. to R u sse ll...___ 104 Oak P t. Jet. to Oak Point........... 60
Winnipeg Transfer Line.. - - - - - 11
Arizona Jet. to Morris and Bran­
don Jet------------------------77 Qu’App.LongL.&Sask.(leased) 256
Brandon
Jet.. to
Carherry Jet__ 231
__________
_________________
Total June 30 1909 (Including about 710 miles leased)------------------- 3,140
In Nov. 1909 the company operated 3,180 miles and had constructed 371
miles of branches and had over 400 miles partly constructed. V. 89, p,
1279, 1480.
Has trackage rights over Canadian Pac., Sudbury to Port Arthur, Ont.
In Oct. 1909 the British Columbian Government agreed to guarantee the
Interest at 4% on bonds to be Issued at $35,000 per mile, to construct a
line across the Rockies from Yellowhead Pass to Vancouver and Pacific
tidewater, about 600 m ., to be completed within 4 yrs. V. 89, p. 1141.
ORGANIZATION.—The Manitoba lines of the Northern Pacific R y .,
i 351 miles, are sublet from the Provincial Gov’t for 999 years from Mayi30




2 (i

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Canadian Northern (Concluded)—

Ontario Dlv 1st M deb £36,900 are 4H s____IGu. by
Manitoba Branch l i n e s ................................) Man.
First cons deb M (Man lines) $10,000 p mc&rj Govt.
Manitoba Provincial bonds, $8,000 per mile.............
Perpetual consol debenture stock (V 81 p 1609)___
First M deb stk $13,000 p m guar by Canadian Govt
1st M stock $13,000 p m guar by Dom of Canada-_
First mtge deben stock guaranteed by Saskatchewan
do
do
guaranteed by Alberta_______
Winnipeg Terminals mtge gold guar by Manitoba.c*
Qu’Ap Long Lake A Sask 1st M £1,050,000 guar . .
1st land grant M red 110 (money depos to redeem)
do
do
£1,027,400 red 105 to J u ly ’ 17
Imperial Rolling Stock 1st M scr A part due yearly,
do
do
ser B to F $210,000 due y ’rly
do
do
ser G $45,000 due yearly___
do
do
ser H $60,000 due yearly___
do
do
ser K part due yearly______
do
do
ser L $250,000 due yearly..
do
do
part due yearly (V 85 p 599)
do
do
ser N &0$200,000 due yly.c*
do
do
ser P $100,000 due sem -an.
do
do
ser Q due $27,400 quar____
do
do
ser R $170,000 y rly ............ c*
do
do
ser S $100,000......................c*
do
do
ser T $150,000............... — c*
do
do
ser U $50,000 yearly...............
Canadian Northern Ontario— Guar deb stock (see text)
Perpetual consolidated debenture stock___________
Can Nor Quebec —Gt Nor cons M $7,962,000(text)_Ce

Perpetual guaranteed debenture stock (see text)__

Allies Date
Road Bonds

287 1901

_ 1904
_ __
__
1903
_
1908
_
____
____

1909
1909
1909
249 1906
____
1899
1907
. . .
____
1902
. . .
1903
—
1904
1904
____
1905
—
1906
1906
—
. . .
1907
—
1907
____
—

1908
1909
1909
1909
268 1908
1909
—
—
1904
____
—
—
—

Par
Value

Rate
%

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

£100 £1 180,600 4 &4V* g J A D 30 June 30 1930
$101,000
4
J A D .30 June 30 1930
£100 £2.436,200
4
J A D 30 June 30 1930
$500
4
$349,000
Oct 1 1930
£100 £4,942.750
4
J A D 30 Irredeemable
£1.923.287
3
M 31-S30 July 10 1953
See text
3H J 20-J 20 1958
£600,000
4
J A D 1939
£600,000
4
J A D 1939
$ A £ $3,000,000
4 g J A J July 1 1939
. . . £1,037.972
4
J A J July 1 1936
£100 52,000,000
F A A Feb 1 1919
4g
£100 Ac $4 805,347
4
J A J July 1 1938
$1,000
$580,148
5g
M A N Nov 1 1910- 12
$ or £
$840,000
5
F A A Aug 1 1910-'13
$ or £
$225,000
5
M A S Sept 1 1910 14
$105,624
1910-1912
500 Ac
$670,000
4H g A A O Oct 1 1910 15
500 Ac $1,700,000
4)4 g J A D June 1 1910-16
500 Ac
$400,000
4H g M A N Nov 1 1910 16
$1 600,000
4H g J A D June 1 1910-'17
500 Ac $1,500,000
4)4 g F A A A> g '10-Aug ’ 17
$328,800
6
May 1912
500 Ac $1,530,000
4)4 g M A S Mch 1 1910-18
500 Ac $1,000,000
4H g M A S Mch 1 1910-19
500 Ac $1,500,000
4M g M A S Sep 1 1910-’ IO
$500,000
4 H M A N Nov 1 ’ 10-’ 19
£1,615,067
Various 1936 and 1938
3H
4
£800,000
A A O 2 Perpetual
—
4
$3,678,750
A A O Oct 1 1934
£1,038.855
4
J A D 31 Perpetual

1901 at $210,000 annually for the first ten years, then $225,000 for ten years,
then $275,000 for ten years, and thereafter $300,000, with option of pur­
chase for $7,000,000. Manitoba Gov't has option to purchase entire prop­
erty In 1929. V. 72, p. 437; V. 73, p. 615. Canadian Northern Ry. System
Terminals incorporated Sept. 1907 with $2,000,000 stock. V. 85, p. 863.
The allied Canadian Northern Ontario and the Canadian Northern Quebec
railways will allord access to Toronto, Ottawa, Montreal, Quebec, Ac.
IQIn May 1907 the Interests which control the Canadian Northern
Ry. acquired control of Quebec & Lake St. John R y., Quebec to Roberval,
on Lake St. John, 190 m., with branches Chambord to Chicoutimi, 51 m.,
and from La Tuque Jet. to La Tuque, 40 m.; Gosford branch, 5H m.; total,
286 H m. See oiler to Q. & L. S. stockholders (extended into Feb. 1910),
V. 90, p. 54, 111, 237.
In Dec. 1908 the stock of the Duluth Rainy Lake & Winnipeg R y., ex­
tending from Virginia, Minn., north to International Falls, 98 m., was
acquired by the same Interests as control the Canadian Northern R y., and
will be extended to Duluth, 75 miles. In connection with the acquisition
of the above company, there has been organized the Duluth Winnipeg &
Pacific R y ., which controls the Duluth Rainy Lake & Winnipeg and will con­
struct the extension from Virginia, Minn., to Duluth, about 75 m., and
build branches and spurs, Ac., for Industrial and mining purposes; also docks
at Duluth, where valuable sites for terminals have already been secured.
V. 87, p. 1604; V. 88, p. 563, 821. The Canadian Northern will guaran­
tee, prln. and lnt., the $10,500,000 1st mtge. and $1,525,000 2nd 4s due
1939, to be Issued for construction. V. 89, p. 1279.
The Qu’Appelle Long Lake & Saskatchewan R R . & S. B. Co. extends from
Regina to Prln<£ Albert, 256 miles. Control of this company was acquired
by those In control of the Canadian Northern R y. In Dec. 1906, holders of
the outstanding $3,809,140 bonds being offered at the rate of £107 for each
£100 bond in 4% debenture stock, prln. and lnt. guaranteed by the Cana­
dian Northern Ry. Co. The Qu’Appelle Long Lake & Sask. RR. & S. B.
Co. was leased to the Canadian Northern Ry. Co. and has been operated
Since Dec. 14 1906. V. 83, p. 214, 324. 688, 1036.
STOCK AND BONDS.— Stock authorized, $65,000,000; outstanding
June 30 1909, $55,000,000; par, $100; None of this stock has yet been
put on the market.
In 1903-08 £5,792,750 4% perpetual consolidated debenture stock was
Issued upon mileage, and to purchase securities of various controlled prop­
erties deposited with the National Trust Co. V. 76, p. 1247; V. 77, p. 87;
V. 80, p. 996; V. 81, p. 1609; V. 80, p. 1099; V. 87, p. 36; V. 89, p. 1279.
£1,923,287 3% first mtge. debenture stock, guaranteed by Dominion
Government, dated July 29 1903; trustees, British Empire Trust Co., Ltd.,
London, England, and National Trust Co., Ltd., Toronto, first charge on
the line from Grand View to Edmonton, 620 miles, at $13,000 per mile,
such first charge to be, however, limited to $10,000 per mile In respect of the
line from Grand View to the western boundary of Manitoba. Additionally
secured by first Uen on the extension of the Prince Albert branch to Prince
Albert from a point 100 miles east; by second lien on the portion of the
Prince Albert branch running from Erwood to a point 100 miles from Prince
Albert, and by charge on other lines then constructed—an aggregate of
918 miles. V. 80, p. 1234; V. 76, p. 1299.
£2,436,200 4% first mtge. consolidated debenture bonds, prln. and lnt.
guaranteed by the Government of Manitoba, dated June 30 1904, secured
by first mtge. to National Trust Co., Ltd., Toronto, Ontario (not exceeding
$10,000 per mile), covering certain lines In the Province of Manitoba
amounting to about 1,185 miles, a proportion of the amount of this Issue
being held In trust by the National Trust Co., Ltd., for the exchange of the
following Issues yet outstanding: (a) £105,300 Manitoba A Southeastern
4% first Uen on 108 miles, Winnipeg to easterly boundary of Manitoba
(by an "amalgamation agreement" between the Canadian Northern Ry.
and the Manitoba A Southeastern R y., all outstanding obligations of latter
road were assumed by the Canadian Northern R y.); (b) £233,700 Canadian
Northern R y., Slfton branch, 4% bonds secured on 197 miles, SIfton Junc­
tion to Erwood, guaranteed, prln. and lnt., by Manitoba Government
(c) £10,000 Lake Manitoba Ry. & Canal Co. 4% bonds first Hen on 125 miles,
Gladstone to Wlnnlpegosls, guaranteed as to prln. and lnt. by the Manitoba
Government; (d) £1 700 Gilbert Plains 4% bonds, a lien on 27 miles. Dau­
phin to Grand View, guaranteed by Manitoba Government. V. 80, p. 116;
V. 78, p. 1274; V. 79, p. 2794; V. 81. p. 1607; V. 82, p. 568.
The Saskatchewan Government late In 1909 agreed to guarantee bonds on
3 new lines to be built In the spring of 1910, one from Regina to Moose Jaw,
one from Regina to Edmonton and the third from Regina to Calgary, via
the present Goose Lake line. V. 89, p. 1595, 1480.
The Winnipeg Terminals 4s of 1909, of which $3,000,000 have been sold,
are guaranteed, prln. and lnt., by endorsement by the Province of Mani­
toba; additional bonds may be Issued and guaranteed on authorization
of the Legislative Assembly of Manitoba for further expenditures. The
Grand Trunk Pacific will pay about $97,500 yearly for use of terminals
to be completed In spring of 1910 (as against $120,000 annual Interest on
bonds Issued), and further rentals may be arranged. V. 89, p. 665, 1480.
In July 1908 the Dominion Government agreed to guarantee prln. and
lnt. of 3 'A% 50-year bonds or debentures to be Issued at $13,000 per mile
on 609 miles of branches In Manitoba and Saskatchewan, and contracts are
under way for construction of these lines. V. 88, p.346, 821; V .8 7 /p . 1159.
In June 1909 £600,000 4% first mtge. debenture stock, prln. and lnt.
guaranteed by the Government of the Province of Saskatchewan and
£600,000, prln. and lnt., guaranteed by the Government of the Province
of Alberta, were offered In London, secured by separate deeds of trust,
the amounts now Issued being at $13,000 per mile, with the right reserved
to Increase the amount to $15,000 and to Issue additional stock or bonds
secured by said deeds for additional lines In said provinces. V. 89, p. 40
V. 88, p. 1497. 1619.
LAND GRANT BONDS.— $2,000,000 first mtge. 4% land grant bonds
are secured by 1,365,333 acres of land grant subsidies from Dominion of
Canada. V. 85, p. 1205; V. 76, p. 1083; V. 75, p.183,549; V. 81, p.263.
£1,027,400 First Mtge. 4% Land Grant Debenture Ponds.— These bonds
are secured on 1.250,000 acres of land (specially set aside as per schedule
In mtge.) In the Provinces of Manitoba and Saskatchewan, of wnlch 239,000
acres have, since sales of the land commenced In 1907, been sold, proceeds




Amount
Outstanding

VOL. L X X X X .

London and Toronto
London, Toronto A N Y
Can Bk of Comm, Tor
London, Eng
do
London, Eng
London
do
do
London, Toronto & N Y
Can Bank of Comm, Lon
Nat Tr Co, Tor. or Lond.
London, Eng.
C Bk of Com N Y; or Tor
do
or London. Eng
do
Toronto or Lon
do
do
N Y , London or Toronto
do
do
do
do
do
do
do
do
Can Bank of Comm, N Y
N Y , London and Tor’to
do
do
do
do
do
do
Can Bk of Commerce,Lon
6 mos lnt April 2 1910
Can Bk of Com,NY;ATor
N Y Toronto & London

of which have been paid over to the trustees. £40,000 of the above Issue
has been already retired, as provided in the trust deed securing the issue
dated July 1 1907. V. 87, p.pl79, 1477; V. 88, p. 1126.
EARNINGS.— 5 mos., 1 1909________Gross, $5,629,100; net, $1,773,600
• July 1 to Nov. 30.
/ 1908_______ Gross, $4,707,200; net, $1,472,800
1..R E P O R T.— Report for year ending June 30 1909inV .89. p. 1480,shows:
.
1908-09.
1907-08.
1906-07.
1905-06.
Average miles---------------3,013
2,866
2,509
2,064
Gross earnings-----------------$10,581,768 $9,709,462 $8,350,198 $5,903,755
Oper. expenses A taxes. 7,015,406 6,676,775
5,424,164 3 674 732
Net earnings_________ $3,566,362
lnt. bonds guar, by Gov’t
$695,641
of Manitoba-------------Int.bds.gu.by D.ot Can.
280,800
lnt. perp. cons.deb.stk_
938,399
lnt. on Qu’Ap. L. L. &
S.. Section------------203,983
lnt. on 4% land gr. bds_
96,107
Rentals leased lines, A c.
223,960
lnt. on equip, leases___
480,727

$3,032,687

$2,926,034

$2,229,023

$658,743
280,800
577,539

$624,726
280,800
446,054

$591,058
167,836
315,360

223,960
306,949

223,960
211,234

181,467
223,960
431,248

Surplus for year.........
$646,745
$678,930 $1,043,545
$719,574
Officers: Pres., William Mackenzie; V.-P., D. D. Mann; 3d V.-P., D. B.
Hanna; Sec., W. H. Moore; all of Toronto, Ont. Directors: William Mac­
kenzie, D. D. Mann, Z. A. Lash, Frederic NIcholIs, all of Toronto, Ont.,
and R. M. Horne-Payne, London, England.— (V. 90, p. 108, 236.)
CANADIAN NORTHERN ONTARIO R Y.— <See Map Canadian Northern
Ry.)— Owns Toronto to Sudbury, 268 miles, with extensions to Scllwood
(Moose Mountain Iron mines), 33 miles; branches, 9 miles; total, 310 miles.
From Sellwood the main line Is now being extended towards Port Arthur,
where a connection will be made with the Canadian Northern Ry. Forty
miles of this extension was completed this fall. 'A branch line from a point
north of Sellwood Into the Gowganda Silver District was opened Jan. 3 1910,
thus securing to the Canadian Northern Ontario Ry. the entire traffic of
this important territory. The extension from Ilawkesbury to Ottawa City
was opened In Nov. 1909, and In connection with tho Canadian Northern
Quebec Ry. a through train service was established between Ottawa,
Quebec and Montreal. Owns modern ore-handling plant at Key Harbor,
80 miles from Moose Mountain Iron mines.
ORGANIZATION.— Controlled by same Interests as the Can. North.
Capital stock (shares $100), authorized, $1,000,000; Issued June 30 1908,
$250,000. Debenture stock, 3 H % , duo July 10 1936 and June 30 1938, In­
terest Mch. 31 and Sept. 30 and Dec. 31 and June 30. Authorized at $20,000
per mile. Prln. and Interest guaranteed by Province of Ontario.
In June 1909 £800,000 4% perpetual consolidated debenture stock was
offered In London at 92, payable £5 on application, £10 on allotment, £37
Sept. 6 1909, £40 on Jan. 6 1910, secured by first mortgage on a line of
railway already constructed from Hawkesbury to Ottawa with additional
charges on other lines as further security. V. 89, p. 40, 162.
DIRECTORS.— William Mackenzie, D. D. Mann, Frederic NIcholIs,
W. H. Moore, L. W. Mitchell, Z. A. Lash, all of Toronto, Ont.; and R. M.
Horne-Payne, London, Eng. Pres., William Mackenzie; V.-P., I). D.
Mann; 3d V .-P ., D. B. Hanna; Sec., W. H. Moore, all of Toronto, Ont.
Office, Toronto, Ont.— (V. 88, p. 230, 1060; V. 89, p. 40, 162.) ,«tM si
CANADIAN NORTHERN QUEBEC R Y . —(See Map Canadian Nor. Ry.)
Owns main line Hawkesbury to Riviere a Pierre, 169 miles; Montreal to
Jollette, 36.20 miles; Montford to Huberdeau, 33 miles; St. Jerome to St.
Sauveur, 15.1 miles; St. Jacques Junction to St. Jacques, 7.2 miles; Shawlnlgan Junction to Shawlnlgan, 4.50 miles; St. Jerome Junction to St.
Jerome, 1.70 miles; Garneau to Quebec, 84.19 miles; total, 350.87 miles.
Owns elevator, car shops, Ac., at Quebec. Formed In 1906 by the amalga­
mation of the Great Northern R y. of Canada, the Chateaugay A Northern
Ry. Co. and the Quebec New Brunswick A Nova Scotia Ry. Controlled
by the same Interests as the Canadian Northern Ry.
Capital stock, $12,500,000, of which $3,000,000 Is Issued as statutory
stock with a certain preference as to dividend.
SECURITIES.— On Oct. 22 1906 an issue of 4% perpetual debenture
stock guaranteed by the Canadian Northern Ry. was authorized to an
amount sufficient to take up the bonds of constituent companies, to meet
cost of lines now under construction, provide for construction or acquisition
of additional lines at not exceeding £4.109 ($20,000) per mile of such lines,
and with the consent of the trustees for the stockholders to provide for the
purchase of the stocks and-'securltles to an amount not exceeding the cost
thereof. In Oct. 1906 £1,000,000 of this stock was issued to take up the
entire bond Issues of the Chateaugay A Northern Ry. and the Quebec New
Brunswick A Nova Scotia Ry. and $1,514,500 bonds of the Great Northern
Ry. Co. of Canada, and since that date £38.555 of stock was issued to take
up an additional amount of Great Northern R y. Co. of Canada 4% bonds.
Interest payable June 30 and Dec. 31. Total amount outstanding, £1,­
038,855; secured by specific first mortgage upon any securities acquired as
above and deposited with the trustees and by first general Uen upon entire
property of company (other than land and money subsidies), subject only
to the bond Issues of the amalgamated companies, which bonds will be
retired as soon as every bond of each series has been exchanged for stock
of this Issue. The stock books are kept at the London office, Bond Court,
Walbrook, London, E. C., Eng. V. 83, p. 968; V. 84, p. 693, 748.
In addition to the 4% perpetual debenture stock outstanding there has
also been Issued $3,678,750 4% bonds of tho Great Northern Ry. of Canada
(guar, as to prln. and lnt. by Canadian Northern R y.), of which the Central
Trust Co. of New York holds $6,500 bonds for exchango for the unex­
changed balance of Great Northern Ry. of Canada first Issue of 5 % bonds.
DIRECTORS.— D. B. Hanna. Z. A. Lash, Frederic NIcholIs, W. H
Moore and F. C. Annesley, all of Toronto, Ont.; II. H. Melville, Boston,
Mass.: V. Chateauvert. Hon. Jules Tessler, Senator, both of Quebec, P. Q.
Thomas McDougall, the Mayor of Quebec; A. J. Mitchell, Toronto, Ont.

RAILWAY STOCKS AND BONDS
1910.]



28

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, A c., see notes on first page]

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

When
Payable

[ VO L. L X X X X .
Last Dividend Places Where Interest and'
Dividends are Payable
and Maturity

Lond & 31 Pine St N V
See text A & O Oct 1 1909 3H
$100 c ee text
Canadian Pacific— Stock 5200,000.000 authorized----4
A & O Oct 1 1909 2% Company’s Office, Lond
100 $52 .694,666
Preferred stock limited to 4% non-cumulatlve------r
Montreal
6
$973,333
Various Nov 1 1910
£100
269 1880
Canada Central R R second mortgage (now first)...
Baring Bros & Co, Lond
5 g J & J July 1 1915
First mortgage debentures sterling........................... 3,221 1885 £100 &c 34.998 633
Baring Bros & Co,London
5 g J & J July 1 1937
183 1888 £100 &c 3,650,000
1st Mort on Algoma Br g------------------ ------- c*&r
Company’s
office, Lond.
&
128,030.133
4
J
J
Irredeemable
£1
&c
1889
r Consol perpetual debenture sto ck ............................
Securities of Principal Leased, A c., Lines.
London & 31 Pine St N Y
5 g J & D June 1 1934
1,000 $2,544,000
218 1884
g Manitoba S W Col Ry $12,000 per mile Int guar gold
Baring Bros & Co, Lond
5 g J & J Jan 1 1937
350 1887 £100 &c £1,330,000
^Atlantic & Northwest— 1st mortgage gold gu._c*&r
Can Pac office, London
(6) 4 J & D 15 See text
£200,000
£50 &c
58 1876
> j s t Lawrence & Ottawa— first mortgage gold see text
Montreal
and London
6
&
D
Dec
1910
3
$2,000,000
J
$100
StfOntario & Quebec stock guaranteed In perpetuity.Morton, Rose, London
5
.1 & D Irredeemable
£1 £4,007,381
671
>.iOntarIo & Quebec deben Interest guar In perpetuity
Toronto and London
£7t9,000
4 g J & J July 26 2882
£100
191 1883
Toronto Grey & Bruce 1st M gold Interest as rental
London
F & A Aug 1 1934
£630,000
5g
£100
174 1884
ilN e w Brunswick Ry 1st M gold Int from rental___ c~
do •
do
4
£904,533
J & J Irredeemable
£1
1890
t * Perpetual consol debenture stock, Interest guar.
Can Pac Office, London
4 g J 3 & J 2002
£1,121,700
1890
I f Calgary & Edmonton deb stock gold Interest as rent
Can Pac Office, Montreal
4
J & J 1955
1,000 $1,040,000
52 1905
k j Branch line bonds $1,040,000 (owned by CanPac)
Bk of Montreal, Toronto
500,000
4 g J & J July 1 2002
1,000
40 1903
* ‘ Lindsay Bobcayg & Pontypool 1st M $700,000 gold
N Y and Augusta, Me
300,000
14 1909 500 &C
4M g 1-' & A Aug 1 1929
■ A r o o s Val El RR 1st M $300,000 g red 105 Int guar..
Mlnn St P & Sault Ste Marie and Duluth South Shor e& At lantlc — See sta tements of those co mpanles
Carolina Central— Bonds—See Seaboard Air Line Ry
Blair & Co, New York
1,000 10,000.000
1908
5 g ,T & D June 1 1938
Caro Clinchf & Ohio— 1st M $15,000,000 red 110.F .c'
New York
5,000,000
1,000
1909
5 g J & J July 1 1919
Mortgage gold notes $5,000,000 redeem par.E q.xc
do
do
2,340,000
1,000
5 g J & D Juuc’ 10 -Dec’ 18
1908
Equipment gold notes ser " A ” due $130,000 s a.Ba
Grand Cent Station, N Y
1,000
1,100,000
4 g J & I) Dec 1 1981
46 1892
Carthage & Adir—1st M $1,600,000 gold gu.U n .c’ &r
do
do
1,000
300,000
29 1891
5 g J & .1 July 1 1931
Carthage Water & Sack Mar— 1st M g gu p & 1 e n d ..
Reading Terminal, Phlla.
135,000
1,000
1898
4 g J & ,1 July 1 1928
Catasauqua & Fogelsville— First mtge gold.-P eP .c*
M & N N v 19 1909 2 h Company’s Office, Phlla
5
50 3,200,000
98
Catawissa— Pret stocks 5% guar P & R Ry (see text)
do
do
2 215,000
1,000
4 g A & O Apr 1 1948
103 1898
First consol mortgage $2,215,000 g o ld __ P cP .c'
Tan Nat Bk Catskill N Y
39,000
5
F & A Aug 1 1915
1,000
16 1885
Catskill Mt’ n— 1st M ($2,000 not ext from 1905)-----2.91042% paid In Sept’07
Aug 1 1915
238,000
6
100 &c
1885
First Income bonds_____________________________
4 h 30 Pine Street New York
589,110 See text J & J Jan 1910
30
34
go Ro ck Isla nd & Pac Iflc Ry
Central Branch— See Missouri Pacific
Guaranty Trust Co N
7,000,000
1,000
5 g F & A Nov 1 1945
312 1895
do
do
M & N Nov 1 1945
1,000 18,500,000
5g
1,493 1895
do
do
1,000,000
1,000
5 g J & J Jail 1 1946
138 1895
do
do
840,000
5 g J & J Jan 1 1946
1,000
102 1895
do
do
462,000
1,000
5 g J & D Dec 1 1945
77 1901
Ocon Dlv 1st M Brewton to Dover $6,000 p m .-S .c'
a
s fra <• ** ; -si = 4 4 i
~s •*■
1907-08.
1906-07.
and R. M. Horne-Payne, London, Eng. Pres., D. B. Hanna; V .-P ., Miles operated end of year_________ 1908-09.
9,878
9,426
9,154
H. H. Melville; 2d V .-P., Frederic Nlcholls; Sec., VV. II. Moore,, all of
Passenger
earnings...................
$20,153,001
$19,900,432
$10,528,878
Toronto, Ont.— (V. 84, p. 693, 748.)
, ,
-H
Freight ..........................
48,182,520 44,037,598 45,885,968
CANADI AN PACIFIC RY.— ROAD.— Owns a trans continental railway Mall, express and miscellaneous_____ 7,977,800
7,446,143
6,802,682
from Montreal to the Pacific Ocean, made up as follows July 1 1909.
Montreal to Vancouver............ 2,9081 Under construction July 1 1909 403
Total earnings.................................. $76,313,321 $71,384,174 $72,217,528
Branches and auxiliaries-------- 2,965 Operated account of owners—
262
Net earnings.......................................... $22,955,573 $21,792,360 $25,303,309
Leased lines__________ _______ 3,9111 Also controlled but oper. sep.—
Interest received................. ................ 2,306,488
2,654,633
2,364,480Used Jointly.................................
94|nMlnn. St. P. & Sault Ste. M ..3.425
------- aDuluth South Shore & Atlantic 593
$25,262,061 $24,440,999 $27,607,789
Total In traffic returns______9,878| aSee each company’s statement.
Fixed charges....................................... $9,427,033 $8,770,077 $8,511,756
880,000
880,000
780,000
Branch, Toronto to Sudbury, 226 miles, was opened June 15 1908. For steamships, &c________________
In Jan. 1909 purchase of control of Wisconsin Central by Minn. St. Paul & Dividends on common stock______•(6) 9,000,000* (6)7,300,800* (6)7,300,800
Dividends on preferred stock______ (4)2,107,867 (4)1,916,407 (4)1,736,228
Sault Ste. Marie was concluded. V. 88, p. 157.
.
_
HISTORY ETC.— Incorporated Feb. 18 1881 under charter from Do­
Balance, surplus............................... $3,847,161 $5,579,715 $9,339,005
minion of Canada, receiving $25,000,000 In cash as a subsidy; also -.5,000,­
* Also 1% extra yearly from Interest on land sales, viz.: /$% April 1
000 acres of land, all to be fit for settlement. Operates trans-Atlantic and
and Yi% Oct. 1.— (V. 89, p. 592. 663, 716, 726, 846, 917, 989, 1068.)
Pacific steamship lines: also steamers to Alaska.
STOCK.— The Issue of preferred must never exceed one-half the common
CANO BOLT RR.— See page 172.
stock. In 1909 £800,000 preference stock was sold; total outstanding
CAROLINA CLINCHFIELD & OHIO R Y .— (See M ap.)— In operation
July 1909, $52,696,666. V. 89, p. 726. The stockholders voted March 19 from
Dante, Va., to Spartanburg, S. C., 245 miles. Connects at Bostic,
1906 to Increase the common stock to $150,000,000; of the new stock, N. C.,
with the Seaboard Air Line R y.. with which close relations are
$20,280,000 was then subscribed for by stockholders pro rata at par. maintained,
which tidewater Is reached. V. 88, p. 944; V. 87, p. 670.
$24,336,000 In 1908 and In Feb. 1909 $3,984,000 was sold, raising the Controlled byby
Cumberland Corp., which owns the Cllnchlleld Coal Corp.,
amount outstanding to $150,000,000. V. 82, p. 333, 691; V. 86, p. 601; whose 285,000the
acres
of coal lands the road will develop. V. 86, p. 669;
V. 88, p. 563. Stockholders voted Oct. 7 1908 to Increase authorized V. 83, p. 154. See Cumb.
Corp. Financed by leading N. Y. bankers.
common stock to $200,000,000. $30,000,000 being offered to common
Name
changed
In
March
from South & Western RR ., stock being
stockholders of record Nov. 15 1909 pro rata at 125, payable In five equal Increased to $30,000,000, 1908
of which $15,000,000 Is 6% preferred and1
Installments— on Jan. 5, March 9, May 9, July 8 and Sept. 7 1910. The $15,000,000 common.
new stock will be entitled to dividends for the half-year ending Dec. 31
BONDS-—The first mtge. has been authorized to secure $15,000,000 30
1910. V. 87. p. 613,936,1008; V. 89, p. 917, 1068. In 1908-09.£800,000
year 5% bonds dated June 1 1908, of widen $3,000,000 were used to
preferred stock was sold. V. 89, p. 726.
retire the old bonds (3 Issues) to the same amount deposited as collateral for
PIDIVS.— ’ 90-’ 94. ’95. ’ 96. ’ 97. '98. 99. ’ 00. *01. ’ 02. ’ 03. ’ 04 toOct’ 09 the Cumberland Corporation 1-year notes of 1908: In Aug. 1908 $10,000,000'
•Com, % .. 15 yearly 0
2H 2K 4H 4
5H 5
5
5>* 6 yearly
bonds were sold. The mtge. is secured on the road from Dante, Va.,
Pref. % __ /Issued In 1804. 4% yearly (2% A&O).
to Spartanburg, S. C., 245 m. V. 86, p. 667, 856; V. 88, p. 944. In Feb
•Also 1 % extra was paid In 1907 from Interest on land sales, viz., Vi % 1909 $2,600,000 equlDment notes, ser. “ A ,” were sold. V. 88, p. 451
April 1 and
Sept. 30; In 1908 and 1909, 1% (A&O). tort* "*!»,*• “ It!
In July 1909 $5,O0O,OOO 10-year 5% mortgage gold notes following In
WBONDS, DEBENTURE STOCK. GUARANTEED BONDS, ETC.— lien the $10,000,000 first 5s of 1908 were sold. They are subject to call as
List of securities held against consolidated debenture stock In V. 89, p. 727. a whole or may be drawn In part by lot. V. 89, p. 285.
Mark W. Potter, Chairman of Board, 24 Broad St., N .Y .— (V.89,p .1541.)
In July 1909 $128,930,133 debenture stock was outstanding, £2,727,340
being sold In 1909. V. 86, p. 545.
,
,
CAROLINA & NORTHWESTERN R Y — See page 172.
In June 1890 company agreed to guarantee the principal and Interest of
CARTHAGE & ADIRONDACK RY.— See page 172.
$20,000,000 4 % bonds to be Issued by the Dul. So. Sh. & Atl.; also 4 % Int.
on consolidated bonds of the Minn. St. P. & S. Ste. M., and In 1899 Interest
CARTHAGE WATERTOWN & SACKETT’ S HARB. RR.— See page 172.
on the second mtge. 4s of the latter, and In 1901 Interest on $1,254,000
CATASAUQUA & FOGELSVILLE RR — See page 172.
Mineral Range 4% bonds, the last named being all owned June 30 1909.
CATAWISSA RR.— Owns from Tamanend. Pa., to Newberry Jet., Pa.,
Owns Dul. S. S. & Atl. consols. $15,107,000.
St. Lawrence A Ottawa bonds are endorsed with the Canadian Pacific’ s 102.89 miles; second track, 38.69 miles; total, 216.01 miles. Re-leased'
acceptance of a 999 years’ lease at a rental sufficient to pay 4 % interest on Dec. 1 1896 for 999 years to Philadelphia & Reading Railway. Rental,
bonds, and the bondholders’ agreement to accept Interest at 4 % (Instead of Interest on bonds, 5% dividends on preferred stock, all taxes and $8,000
for organization expenses. See also V. 63, p. 969, 1116. Of the preferred
6%) and to refrain from demanding principal (due 1910) during lease.
B T h e New Brunswick Railway consolidated debenture stock has Interest stocks, in 1909 $2,200,000 was first preferred and $1,000,000 second pre­
guaranteed by Canadian Pacific: Interest on the 1st mtge. bonds, though ferred, and common was $1,159,500; par, $50.— (V. 72, p. 1187.)
not guaranteed, Is paid out of rental under 990-year lease of 1890.
CATSKILL MOUNTAIN RY.— See page 172.
The Calgary A Edmonton Ry. debenture stock Is guaranteed Interest at
CAYUGA & SUSQUEHANNA RR.— See page 172.
4 % under new lease of 1903. V. 76, p. 435; V. 77, p. 636.
CENTRAL BRANCH RY.— See Missouri Pacific.
1'he Lindsay Bobcaygeon & Pontypool Ry. bonds are Issued under a
99-year lease covering the Interest. V. 77, p. 1225: V. 79, p. 2085
CENTRAL OF GEORGIA RY.— {See M ap.)— System Includes:
The Interest on the Aroostook Valley (Electric) R R . 20-year 4 H % bonds,
Lines owned in fee—
Miles. Lines leased— (see these cos.) Miles.
which In Sept. 1909 almost completed a first unit of 14 miles from Presque Savannah
Atlanta-------------- 295 Southwestern R R .—
Isle to Washburn, Me., Is to be guaranteed. Press reports state an exten­ Gordon to to
Macon to Eufaula---------------- 144>
Porterdale_________
86
sion will be built northerly to the St. John River, 110 miles, but the com­ Columbus to
Fort Valley to Perry...............
12
Birmingham, Ala. 156
pany does not confirm this statement. V. 89, p. 846; V. 90, p. 107.
Fort Valley to Columbus-----71
Columbus
to
Amcrlcus-----------62
Car trusts outstanding June 30 1909, $1,630,000.
Smlthvllle to Columbia.........
85Montgomery
to
Eufaula,
A
la
..
80
LANDS.— Lands unsold June 30 1909 were 8,204,556 acres of Canadian
Cuthbert to Fort Gaines-----21
to Greenville, Ga__
49
Pacific grant and 129,984 acres of Manitoba South Western grant, 103,054 Columbus
to Roanoke---------------36 Augusta & Savannah R R .—
Great North-West Central grant, 3,161,921 British Columbia Southern, Opelika
Mlllcn to A u g u s t a -.---------53
Eufaula
to
Ozark------------------60
76,260 acres of Columbia and Kootenay grant, and 1,265,324 acres of Griffin, Ga.,to Chat.,Tenn.r&c. 1981Chattahoochee & Gulf R R .—
Columbia & Western grant; total, 12,941,099 acres. The Columbia & Chlckamauga
-----Columbia to Lockhart...........
91
to ~
Durham--------18
Western R y. claims a further area, which Is In dispute. Total sales In Savannah to Tybee___________
18 Trackage____________________
3
1908-09, 376,046 acres, for $5,085,517.
Columbus to Andalusia_______ 138
Total oper. July 1009------- 1,916
GENERAL FINANCES.— In 1902 stockholders subscribed for $19,500,­ Macon Junction to Athens----- 102
000 new com. stock at par. In 1904 for $16,900,000 and In March 1906 for Brewton to Dover------------------77
$20,280,000, and In Feb. 1908 for $24,336,000 at par, and In Nov. 1909 Barnesvllle to Thomaston_____
16 Also Meldrlm to Lyons, 58 miles
stockholders wire offered $30,000,000 at 125.
V. 74, p. 378; V. 82, Lyerly Branch________________
(leased to Geo. & Ala. R y .—
9
p. 333, 691. In 1907-08 £1,000,000 preferred stock was sold and In 1908-09 Upper Cahaba Branch-----------Seaboard Air Line system).
12
£800,000. V. 84, p. 338.
Greenville to Raymond----------24 Ocean Steamship Co., estimated
Stockholders on Oct. 3 1907 authorized the Issue of $8,000,000 consoli­
equivalent of---------------------------300dated debenture stock, viz.; At not over $20,000 per mile, to construct
Total owned (and oper.)------1,436
various branches, aggregating about 300 miles; additional work on the
ORGANIZATION.— Organized Oct. 17 1895 and Nov. 1 succeeded to the
Sudbury branch, 226 miles, at $10,000 per mile, and three steamers; also properties of the Central RR. & Banking Co. of Georgia, foreclosed, per plan
the lease of certain lines, &c. V . 85, p. 863, 1002. The double-tracking In V. 60, p. 1008, and V. 61, p. 68. Controls Wrlghtsvllle & Tennlllo and
between Fort William, Ont., and Winnipeg, 427 m ., to be completed In Wadley Southern R y., all of the bonds of the latter being owned and de­
1909, will cost about $10,000,000. V . 81, p. 667, 1170. In Sept. 1907 posited to secure short-term notes due March 1 1912. V. 85, p. 605.
£1,250,000 4% debenture stock was sold and In Feb. 1908 £2,000,000 and
In June 1909 the $5,000,000 stock was acquired by the Illinois Central,,
In 1908-09, £2,727.340. V. 85. p. 590; V. 86, p. 545.
but the road Is operated independently. V. 88, p. 1559; V. 84, p. 1550;
In July 1906 the last of the $15,000,000 land grant bonds was paid off, V. 85, p. 1082, 1268; V. 86, p. 667.
leaving the land grant unencumbered; on Oct. 6 1909 the balance due on
BONDS.— The first mortgage of 1895 (described In V. 63, p. 1160) Is ft.
account of land sales was over $18,000,000, on which 6% Int. Is received.
This Interest will be used to pay extra dividends on the common stock; 1% first lien on the main line from Atlanta to Savannah, Including the MUledgevllle branch (312 m. In all), all equipment and appurtenances, and the equity.
was paid during 1907 to 1909. V. 83, p. 817.
In $1,995,000 stock of Ocean SS. Co. V. 84, p. 529, 605; V. 87, p. 550.
EARNINGS.— 5 mos., 11909......... Gross, $41,710,753; net, $16,954,453
Application for listing firsts and consols In V. 63, p. 1160.
July 1 to Nov. 30. *1 ■■(1908-------- Gross, 33,755,783; net, 11,844,426
The consol, mort. (see abstract V. 61, p. 873; also V. 63, p. 1160; V. 83, p.
-JFANNUAL R EPO RT.— Fiscal year ends June 30. Annual meeting Is 1347) Is a first lien upon 600 m. (Including former Mont. & Eufaula RR .,Sav.
held at Montreal on the first Wednesday In October. The report for 1908-09 & Western and Sav. & Atl.); also on the leases of the South Western and
at length was In V. 89, p. 663, 726. Annual meeting, V. 89, p. 989. See Augusta & Savannah roads and the stock of New England & Savannah
also editorial, n. 694. i
. . . . ____ . .
Steamship Co., and a second lien upon the main line. Its equipment, &c.„

B




RAILWAY STOCKS AND BONDS.
a n ., i o i o . j

J




30

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
Cent of Ga Ry— (Con)— Eatonton Br 1st M not gu g
Mid Ga & Atl Dlv 1st (consol) M $9,000 p m__ G.c*
Chattanooga Dlv purch money M $2,400,000 g.S.c*
Chattanooga Rome & So 1st M $500,000 g lln.c*
N
Upper Cahaba mortgage gold red 102+4_Greenv & New 1st M g red 102+$_________ . .
N
1st pref Incomes}Interest up to 5 % ________
Mp
2d
do
do ) gold If earned____________
Ce
3d
do
do J non-cumulatlve__
Ala
Central RR & Bk coll tr bonds gold red at llO.Cs.c*
Locomotive and car trusts payable $118,000 s-a
c
Equipment trust series H $51,000 s-a (V 82 p 217)
Equip trust series I $115,000 s-a (V 83 p 751) . GP
do
do series K $38,000 semi-annually
Notes secured by Wadley Southern bds...................
Guaranteed, &c.. Securities
Ocean SS Co first mortgage gold guaranteed--Ce.c*
Steamship bonds g ass’d by O SS Co $69,000 due s-a
Augusta & Savannah stock (no bonded debt)______
Southwestern Railroad stock (no bonded debt)_____
Chattahoochee & Gulf stock. ____________________
First M gold $2,000,000 lnt rental s f red at 102 >4
Cent Indiana— 1st M $4,000,000 gu p & 1 end_Cc.c*&r
Central New Eng— First M $1,250,000 call 105 FP.c*
General mortgage 5% Incomes $7,250,000 ___ FP.r
Dutchess County RR— First M gold guar____Ale.c*
Divisional bonds.. . ______ ___________________
Central Ohio—See Baltimore & Ohio
Central Pacific— 1st refund M g gu p & 1 endCe*.c&r
3+$s $25,000,000 gold guar p & 1 e n d . __ Us.c’ &r
Lucin cut-otr 1st M $10,000,000 guar (text) _G.c*&r
Central RR of Haiti— 1st M U S gold pay 105 at maturlty or company’s optioh— ________________G
Central RR of N J—Stock ($30,000,000 authorized)..
Cent RR of N J gen M $50,000,000 gold— . Ce.rc
do
do
registered_________________
Bonds of Allied Companies—
Leh & Wllkesb Coal con M gu p & 1ext (V90, p 236)

Miles Date
Road Bonds
21
65
164
138
12
24

Par
Value

1896
1897
1901
1897
1905
1905
1895
1895
1895
1887
. ’ 02-3-5
1906
__ 1906
1907
1907

$500
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
50,000

__ 1890
__ ’03-’04
53 . . . .
333

1,000

91
117
58
58
12

1900
1903
1899
1899
1890

100
100
100
1,000
1,000
1,000
1,000
1,000

Amount
Outstanding

Rate
%

1875

1,000

and also on the Macon & Northern, Mobile & Girard, and other divisions.
It also covers all leaseholds, securities, &c. V. 85, p. 605; V. 80, p. 777.
Collateral trust mortgage abstract was In V. 45, p. 242.
The Chattanooga Division mortgage Is a first lien on the former Chatta­
nooga Rome & Southern R R ., Carrollton, Ga., to Chattanooga, Tenn.,138
miles, and Durham to Chtckamauga, Ga., 17 miles, with branches, In all 164
miles, subject to $343,000 old 5s, for which a like amount of bonds Is re
served. V. 72, p. 1134; V. 78, p. 1446.
Upper Cahaba Branch bonds are secured by coal lands In Northern Ala­
bama, also by road Henry Ellen to Margaret, Ala. V. 81. p. 920. 1099,
PREFERENCE INCOMES.— These bonds, subject to the prior mort­
gages, cover the main line and the former Savannah & Western, Columbus
& Rome, Montgomery & Eufaula, Mobile & Girard, Macon & Northern and
Savannah & Atlantic and other railroads, and their equipment, &c. They
are non-cumulatlve and bear Interest not exceeding 5% in any one fiscal
year, but payable only out of net earnings as declared. In Oct. 1905 It
was arranged to attach coupons to Income bonds. V. 81, p. 974, 1174.
Dlvili. (% )— '96. ’ 97. ’98. ’99. ’00. ’01. ’ 02. ’03. ’04. ’05. ’ 06. ’ 07. ’08. ’09
2 3+4 5
3
5
5
5
5
1st Incomes I X 2!4 2
5
0 0
0
0
5
0
0
0
0
0
2
5 3.729 0
2d Incomes 0
0
0
0
0
0
0
0
5
5
3d Incomes 0
0
0
0
0 0
In Oct. 1907 the holders of $2,498,000 second preference and $1,350,000
third preference Income bonds had deposited their bonds with a committee
(Jos. S. Dale, 52 William St., N. Y ., Sec.). V. 85, p. 529, 605, 653, 721,
792; V. 87, p. 1477; V. 88, p. 1436; V. 89, p. 592. In Nov. 1909 suit was
brought to recover full income Interest on 3 classes of bonds from earnings
of 1907-08. V. 89, p. 1346. In 1908 a majority of first Income bonds had
been deposited with a committee (Metropolitan Trust Co. of New York,
depositary; Jos. S. Dale, See.). V. 87, p. 740, 1418.
LATEST EARNINGS.— (1909...........Gross, $5,174,319; net, $1,604,526
5 mos., July 1 to Nov. 30. (1908--------- Gross, 4,899,432; net, 1,348,906
ANNUAL REPORT.-—Report for 1908-09 at length In V. 89, p. 467,
526, 537.
Year ending June 30—
1908-09.
1907-08.
$11,155,182 $11,383,013
7,862,036
8,518,977

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

$168,000
5 g J & D June 1 1926
413,000
5 cur J & J Jan 1 1947
Guaranty Trust Co. N Y
2,057,000
4 g J & D June 1 1951
343,000
5 g J & J July 1 1947
F & A Aug’l 0-Aug ’ 25
465.000
4g
480,000
4 g M & S Mcli ’ 10-Sep ’ 25 Guaranty Trust Co N Y
4,000,000 5 In 1907
Oct 1 Nov 1 1945
7,000,000 3.729 ’ 07
Oct 1 Nov 1 1945
4,000,000 5 In 1906 Oct 1 Nov 1 1945
M & N May 1 1937
4,880,000
5g
335.000
Various To Jan 1912
4X
612.000
4 X g F & A To Feb 1916
1,145,000
4H g J & J To July 1916
M & S To Mch 1 1917
570,000
5g
5g
650,000
M & S Mch 1 1912
Guaranty Trust Co N Y
1,000,000
207,000
1,022,900
5,191,100
436,400
336,000
1,500,000
1.250.000
7,250,000
350,000 4K
See text.

5g
5g
5
5
5
5g
4g
5g
5g
(6) g

1,349 1899
500 &c 99,776,000
4g
1,349 1899
500 &c 16,364.000
3J4 g
103 1904 1,000 &c
9,640,000
4g
__ 1909
1,000
800,000
6g
__ ___
100 27,438,800 See text.
All
1887
1,000} b45,091,000 J 5 g
All
1887 500 &cj
1 5g

...

When
Payable

[ VOL. LXXXX,

J & J July 1 1920
J & J To July 1911
J & J Jan 1910 2X %
J & J Jan 1910 2 +<J%
J & J Jan 1 1910 2X
J & J July 1 1930
M & N May 1 1953
F & A Feb 1 1910
Oct 1 Fob 1 1949
J & D June 1 1940

Guaranty Trust Co N Y
Savannah Ga
Savannah and Macon
Savannah Ga
Citizens’ Bk SavannahGa
Central Trust Co N Y
Fid I T & S D Co Phlla
4% paid for year 1908-09
Fid I T & S D Co Phila

F & A Aug 1 1949
J & D Aug 1 1929
A & O Oct 1 1954

120 Broadway N Y

J

New York
Office 143 Liberty St N Y
Liberty Nat Bank, N Y
Check from treas. off

& D
Q— F
J & J
Q—J

June 1 1919
Feb 1 1910 2%
July 1 1987
July 1 1987

do

Q— M June 1 1910
12,175.000
do
4H
b Includes $1,167,0 00 In treasury July 1900.

do

do

(2) Preferred stock, 4% cumulative, authorized Issue $20,000,000, to be
delivered to Sou. Pac. Co. In consideration of issue of equal amount of Sou.
Pac. Co. 4% oollat. trust gold bonds: of which delivered on completion of
readjustment $12,600,000; reserved for Improvements, $3,000,000; reserved
to be delivered for Improvements and additions at not over $200,000
yearly, $5,000,000; outstanding, $13,800,000.
DIVIDENDS.— On pref., 4% yearly to 1909, Inclusive. On com.. In
1906-07, 6% ; in 1907-08, 6% ; In 1908-09, 6% .
BONDS.— First refunding mtge. gold 4s, $100,000,000. See abstract,
V. 69, p. 808, and V. 70, p. 739; V. 78, p. 228; V. 87, p. 225, 285, 479;
V. 88, p. 52.
Thirty gear gold 3 X s, $25,000,000, secured by a second Hen upon all the
properties covered by the 1st ref. mtge. and also by deposit with the Trus­
tees, as acquired, of all securities and moneys held In any sinking fund of the
Central Pacific R y., consisting July 1 1909 of $8,521,020 In securities and
$21 cash, and by a trust deed upon all the lands covered by the mtge. dated
Oct. 1 1870. See Mortgage Abstract, V. 69, p. 858; also see p. 851. From
the proceeds of these sinking funds and land sales cancellation of bonds are
made from time to time; In Feb. 1900 $2,505,000 3 X s were canceled and
to July 1909 $6,131,000 additional had been canceled, reducing those out­
standing to $16,364,000. V. 70, p. 739, 1194.
The 4% guar, bonds on the Lucin cut-off are redeemable at 107 X on any
int. day since Oct. 1909. V. 79, p. 1641. Guaranty, V. 80, p. 162.
LAND GRANT.— Total land grant was about 1 2 .000.ooo acres, of which
about 7,706,612 acres unsold June 30 1909. Sales In 1908-09, 2,967 acres.
Land contracts July 1 1909— prln., $146,589; aver, price per acre, $5 25.
REPORT.— Year end. June 30 1909, gross, $31,306,984; net, $14,053,­
472; other Income, $817,382; tnt., taxes, sink, funds, &c., $6,808,463; dlv.
on pref. stock (4% ), $548,000; dlv. on com. stock (6% ), $4,036,530; bal.,
sur., $3,477,861, of which payable to Sou. Pac. Co. under terms of lease,
$1,514,917, leaving $1,962,944.— (V. 87, p. 225, 285, 479; V. 88, p. 52.)
CENTRAL RR. OF HAITI.— Incorporated under the laws of the State of
New York March 19 1909 with $1,250,000 full-paid common stock (In
shares of $100 each), and took over the following corporations by purchase
of all their assets: (1) The Plaine du Cul dc Sac R R . Co. of Haiti, a 61-mile
road. lncl. 16 miles building; (2) the Port-au-Prince Wharf Co., all the stock
$3,293,146 $2,864,036 and bonds of the former and the bonds of the latter having been pledged to
$2,860,867 $2,481,492 secure the bond Issue (Imlited to $800,000) above described.
720,656
392,123
Other IncomeThe above-mentioned collateral securities carry with them a guaranty on
the part of the Gov’ t of the Republic of Haiti for the payment of an annual
$3,587,523 $2,873,615 subsidy of $41,280, U. S. gold coin, for which guaranty 20% of the Govern­
1,977,844
1,999,541 ment’s revenues from the duties on cocoa and logwood are pledged, which
556,414
Rentals and miscellaneous_________________
554,732 total revenues exceed by about 10 times the amount of this guaranty.
Betterments (including reserve)....................
837,102
324,768 V. 89, p. 162. N. Y. office, 25 Broad St.— (V. 89, p. 162.)
Taxes on Western R y. of Ala. stock and Chari. &
CENTRAL RR. OF NEW JERSEY.— (See Map Reading System.)— Oper­
West Car. bonds prior to July 1 1908____
213,502
ates from Jersey City, opposite New York City, westerly to Wilkes-Barre
Scranton, Pa., and tne neighboring anthracite coal fields: also southerly
Balance, surplus or deficit------------------------------- sur.$2,661 def.$5,426 and
to the seashore resorts of New Jersey and to the Delaware River.
OFFICERS.— Pres., J. F. Hanson, Atlanta, Ga. Directors, July 1909.
Miles.
Lines owned in fee—
Miles.
V. 87, p. 1009; V. 89, p. 162.— (V. 89, p. 469, 527, 537, 592, 777, 1346.)
Jersey City to Phllllpsburg----------- 72 Nesquehonlng Valley*---------------- 17
CENTRAL INDIANA R Y — Muncle to Brazil, Ind., 127 m ., of which Sundry branches------- ------------------ 84 Lehigh & Susquehanna, Phllllps10 m. trackage. V. 76, p. 653. Controlled by Clev. Cine. Chic. & St. Louis
burg to Union Jet., &c----------- 171
Entire stock owned—
and Penn. R R . Interests. Bonds, guaranteed by Clev. Cine. Chic. & St. L ., New York & Long Branch R R .,
Wilkes-Barre & Scranton*-------------- 5
are limited to $20,000 per mile; outstanding, $1,500,000. V. 77, p. 517,
3
Perth Amboy to Bay Head--------38 Other lines_____________________
2279; V. 78, p. 1906, 1961. Stock authorized, $120,000. Cal. yeart908
Trackage—
New Jersey Southern R R ., Long
gross, $139,762; def. under oper. exp., $65,341. In 1907, gross, $148,136
Branch to Atslon, &c__________ 76 Union Coal R R -------------------------- 10
Pres.. Joseph Robinson.— (V. 77. p. 2279; V. 78, p. 1906, 1961.)
Other lines (no debt)------------------147 Allentown Term, (oper.Jointly).. 3
Other trackage-------------------------- 6
Leased (mostly for 999 years)—
CENTRAL NEW ENGLAND RY.— Owns from Campbell Hall, crossing
5
the Hudson River at Poughkeepsie by Its own bridge, to Sllvernalls, 58 m.; Dover & Rockaway R R ________
Total oper. July 1909------------ 648
Poughkeepsie, N. Y ., to Hopewell, 12 m.; Dutchess Jet., N. Y ., to State Ogden Mine R R *_______________ 10
* See this company.
line, 59 m.; Poughkeepsie, N. Y ., to Boston Corners, 35 m.; total owned,
There are 263 miles of second and 41 miles of four tracks.
164 miles; and lenses and controls Hartford & Conn. Western R R ., Hartford
to RhlneellfT, 109 m.: Wlcopee Jet., N. Y ., to Flshklll Ldg., N. Y ., 2 m.;
HISTORY.— Reorganized In 1887 without foreclosure— sec plan V. 44, p.
total, 293 miles, of which 20 miles abandoned Oct. 1909. V. 89, p. 918.
714, 716. Concerning coal properties, s e e Lehigh & Wilkes-Barre In ‘Sup­
ORGANIZATION.— On June 30 1909 the New York New Haven & plement” Jan. 1903 (p. 159), and Leh. Coal & Nav. In “ Miscellaneous . In
Hartford R R . owned $3,420,285 pref. and $4,432,776 common stock, and Jan. ’ 01 Reading Co. acquired $14,504,000 stk. V. 72, p. 86, 136, 241,391,
$6,368,123 of the $7,250,000 Income and $190,000 first mtge. bonds; also 721. June 30 1909 owned $1,600,000 Leh. Vail, stock, which was re­
divisional bonds, viz., the $500,000 Poughkeepsie & Eastern 1st mtge. 5s, ported as sold In Sept. 1909.
all of the $216,000 coll, and $1,164,000 of the $1,164,500 Income N. D. &
DIV.— 1 ’9 1 .’92 t o ’ 9 4 .’95. '96. ’ 97. ’ 98. ’ 99. '00. ’ 01. 1902 to F e b ’ 10
Conn, bonds and $500,000 (total Issue) of Cent. N. E. notes and $1,090,000 Percent
6M 7 y ’ly. 5 ^ 5 4 ^ 4
4
5
5 8 yearly(Q-F)
notes payable. V. 85, p. 404, 858; V. 89, p. 469. Minority gen. mtge.
Also 2% special on Dec. 15 1909 from proceeds of 614% dlv. on Lehigh
committee, V. 89, p. 102, 918.
& Wilkes-Barre Coal Co. stock owned. V. 89, p. 1410.
STOCK.— Common, $4,800,000; pref.,*4%, $3,750,000: par, $100.
BONDS.— For general mtge. abstract see V. 45, d . 402.
BONDS.— In Aug. 1909 application was denied to Issue $12,910,000 50The L. & W. coal mtge. Is for $15,000,000; the bonds, formerly 7s, of
year 4% bonds under a new mortgage. V. 88, p. 1001; V. 89, p. 102. which
$12,175,000 have been Issued,were In 1900 extended at 4)4 %• and
First dividend on Incomes, 4% for fiscal year 1908-09, V . 89, p. 502.
guaranteed, principal and Interest. See guaranty, V. 71, p. 26.
EARNINGS.— 5 mos., fl9 0 9 ._ .............. Gross, $1,288,315; net, $563,336
Jointly and severally with the Lehigh Coal & Nav. Co. guarantees $1,062,­
July 1 to Nov. 30.
11908__________ Gross, 1,045,019; net, 382,497
000 Lehigh & Hud. Rlv. R y. gen. 5s, prln. and lnt. See V . 67, p. 788.
For 12 months ending June 30:
Equipment Mortgage 4s. Interest at Liberty National Bank., N. Y. City.
12 Mos.—
Gross.
Net.
Other Inc. Charges. Balance.
■“
~~ each)
‘
~
Interest. Outstanding. Instal. of Prln. due Y'ly.
($1,000
Date.
1908-09..................... $2,530,213 $854,013 $56,849 $790,797 $120,065 Ser. B..........................1902 4% Var.
$750,000 $250,000 to May 1 1912
1907-08....................... 2,108,787 335,868
63,898 307,480
2,286 Ser. C ---------1903 4% A&O 1,400,000 350,000 to April 1 1913
($900,000).1905 4% M&S In treasury 150.000 to March 1915
OFFICERS.— C. S. Mellen of New Haven. Pres.: A. S. May, Treas., and Ser. D
350.000
1910 to 1916
Ser. E ($2,100.000).1006 4% F&A do do
J . G. Parker, Sec.— (V. 88, p. 1001, 1060; V. 89, p. 102, 469, 592, 918.)
110.000 to June 1 1917
J&D
do do
Ser. F
($880,000).1907 4%
_______
CENTRAL PACIFIC RY.— (.See Map of Southern Pacific.)
EARNINGS.— For 5 months ending Nov. 30
Lines owned—
Miles.)
Miles.
Charges.
Bal., surp.
5 Months—
Gross.
Net.
San Francisco, Cal., to near
[ Branches to San Jose, &c--------- , 35 1909
$2,336,337 $2,946,443
........................$11,632,545 $5,282,780
Ogden, U ta h ........................... 8711 Leased—
2,562,001
2,244,652
1908 ............................... 10,944,032
4,806,053
Lathrop, Cal., to Goshen, C al.. 146 Weed to Klamath Falls_______
86
ANNUAL REPORT.— The report for 1908-09 was In V. 89. p. 843
Roseville Junction, Cal., to
Trackage—
1007-8.
Inc. or Dec.
Earnings from—
‘
1908-9.
Oregon State Line--------------- 297 Into Ogden, &c_______________
14 Merchandise________________________$8,422,507 $8,368,050
+ $54,541
Umbria to Cecil---------------------- 1031
-------- coa
0,090,015
8,166,309
l___________________
— 932,646
I Total.......................................... 1,551 Passengers_________________________ 4,253,020 4,282,704
— 28,784
ORGANIZATION.— Incorporated In Utah In July 1899 as successor of Mall, express, &c__________________
— 209,247
1,225,392 1,434,039
the railroad under the plan of readjustment In V. 68, p. 378.
STOCK.— (1) Common Stock, $67,275,500, all held by Sou. Pac. Co.
Total oper. revenue.......................$22,068,278 $23,184,414 —$1,110,136




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Waterloo

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Bordeau'
Logan

M elbourne/

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Greeu River

Bitter Creek

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CHICAGO,

BURLINGTON & QUINCY
RAILROAD.



A

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Sheridan Lake

Pueblo

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IhERRIT^-

32

[VOL.

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
Central RR of N i — (Concluded)
L A W B 5s of 1912 sk fd not guar (not drawn) -FP.c
Am Dock A Imp Co 1st M guar redeem at 110___ c*
N Y A L Br gen M g Int gu Jointly (5192,000 5s) -Ce
Lehigh A Hud Rlv gen M gold guar Jointly__ Ce.c*
Central RR of Penn— 1st M $1,200,000 ext 1908.-FP
Central RR of South Carolina— First mtge gold------- c
Cent Ry of So Car— First M $150,000 g gu red-----CP
'Central Vermont— Stock $3,000,000 ________________
First M $12,000,000 gold traffic guar_______ AB.cAr
Car trusts $15,000 or $16,000 due quarterly--------Locomotive trusts $20,000 due yearly (V 83 p 751).
Car trusts $13,000 or $14,000 due seml-ann---------Montreal A Province Line Ry 1st M guar p A 1----- c
C V Trans IstM g gu gAl,$12,000or$13,000due s-aBa
•Charleston & Savannah—See Atlantic Coast Line R R .
Charleston Terminal— First M $1,000 000 gold-S.c* Ar
Charleston Un Sta— 1 st M$400,000 ggu(text).E qc*A r
‘ Charleston & West Car— IstM g($8,000 p m ).Ce.c*Ar
Income mtge gold non-cum ($7,000 per mile) --G.c*
Augusta Terminal R y 1st M gold guar p & l end-.Ce
Charlotte Monroe & Columbia— First M $70,000 gold.
-Charlotte Columbia & Augusta—See Southern Ry
•Chartiers—See Plttsb Cincinnati Chicago A St Louis
Chat & Lake Placid—Sar & Lake Placid 1st M g.Ce.c*
Chattahoochee Valley— First mortgage..................... . .
Consolidated mortgage $110,000----------------------- AB
Chattanooga Stat— 1st M $1,000,000 g gu(text)Ta.cAr
Chesapeake Beach—First mtge see V. 81, p. 97 4.N.c
-Chesapeake & Ohio—S t o c k .........................................
First mtge of 1911 Peninsular Extension gold------c*
‘ Terminal 1st M 1922 covering 8 m to Phoebus g -.c*
First consol mtge for $30,000,000 gold----- Ce.c*Ar
Rich. A All Dlv 1st A 2d Ms ($1,000,000 2ds).Ce.c*
J Craig Valley Branch first mortgage gold--------Ce.c*
Warm Springs Branch first mortgage gold------Ce.c*
General mortgage (for $70,000,000 Ac) gold— Ce.c*
Paint Creek Branch 1st M $750,000 gold------- Ce.c
KIneon Coal mtge assumed redeem since Oct 1905

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

5
$1,000 $2,691,000
5
4,987,000
1,000
2,500,000 4 A 5 g
1,000
1,062,000
1,000
5g
3
600,000
500 Ac
300,000
6g
1,000
150,000
6g
500
100 3,000,000 $2,185,
1899 1,000 Ac 11,500,000
4g
326,000
4H
1,000
1905
140,000
1906
4M
202,000
1,000
1907
4H
200.000
4g
1900
100 Ac
287,000
1,000
5g
1909

1888
1881
38 1891
1890
1893
40 1881
7 1906
All
40.6

1903
1907
1896
1896
1897
22 1902

340

1,000 Ac
1,000 Ac
1,000
1,000
1,000
1,000

10 1893
1,000
10 1896
1,000
16^ 1900
1907 1,000 Ac
34 1898
1,000
100
74 1881
1,000
500 Ac
10 1882
1,000
697 1889
241 1890
1,000
26 1890
1,000
25 1891
1,000
1,394 1892
1,000
21 1905
$1,000
500 Ac
“ - “ 1901

1908-09.
1907-08.
Net earnings...........................................$9,507,761 $9,917,848
Other Income_______________________ 1,427,453 1,635,229

When
Payable

LXXXX.

Last Dividend Places Where Interest and
Dividends are Payable,
and Maturity

A N Nov 1 1912
A J July 1 1921
A S Sep 1 1941
A J July 1 1920
A N May 1 1923
A J July 1 1921
A J Jan 1 1926
J
100 held by Grand Trun
Q— F May 1 1920
C — M Mcii’ lO-Mch ’ 15
C — F Aug 1910-1016
A A O Apr ’ 10 Apr ’ 17
A A O Oct 1 1950
M A N15 May’ 10-May’21

M
J
M
J
M
J

Liberty Nat Bank N Y
do
do
do
do
National Exch Bank N Y
Fidelity Trust Co Phlla
Cuyler, Morgan A Co N Y
Colonial Trust Co Plttsb
k Ry of Canada
Blair A Co N Y ; A Bost
Blair & Co New York
Royal Trust Co Montreal
Amer L & Tr Co Boston
Bankers’ Trust Co, N Y

Standard Trust Co N Y
Equitable Trust Co, N Y
Central Trust Co N Y
Guar Tr N Y If earned
Oct 1 1946
Oct
Central Trust Co N Y
g A A o Apr 1 1947
Rich T & S D Co Rich Va
g A A o Oct 1 1932
A
I
It Nassau St New York
120,000 5 (6) g M A N Nov 1 1913 U
6
50,000
J A D Dec 1 1916 r Boston, Mass
Amer L & Tr Co Boston
60,000
5
J AJ15 July 15 1920
850,000
4 g J A J Jan 1 1957 0 Trust Co of America, N Y
1,000,000
5 g J A J July 1 1923 IQ In default
62,798,300 See text. y — M Dec 31 ’ 09 1 % Office, 71 Broadway, NY
J P Morgan A Co, N Y
A A O Jan 1 1911
2,000,000
6g
do
do
142.000
0 g J A D June 1 1922
do
do
\1 A N May l 1939
27,858,000
5g
do
do
7,000,000
4 g J A J Jan 1 1989
do
do
650,000
5 g J A J July 1 1940
do
do
M A S Mch 11941
400.000
5g
do
do
44,414.000
4 H g M A s Mch 1 1992
do
do
F A A Feb 1 1945
525,000
4g
Cent Tr & S Dep Co CIn O
200,000
5 g A A O Oct 1 1915
800,000
250,000
2,720,000
2,380,000
600,000
70,000

4
4
5
5
6
5

Inc. or Dec.
— $410,087
— 207,776

g
g
g

J

J

A

A

&

J July 1 1953
J Jan 1 1937
o Oct 1 1946




.

CHATTANOOGA SOUTHERN RR.— Owns road, completed In June 189 1
from Tennessee State line to Gadsden, Ala., 87 m.; Round Mt. branch, 3 m.;
trackage to Chattanooga, 5 m.; sidings and spurs, 10 m.; total of all tracks,
105 m. V. 61, p. 830. On April 23 1907 receivers were appointed; E. C.
Total net In com e............................$10,935,214 $11,553,077 — $617,863 Osborne, 31 Nassau St., N. Y ., Is now receiver. V. 84, p. 995. Stock,
Interest on debt________
$2,834,434
$3,021,183 —$186,747 common, $2,250,000; preferred, $750,000.
Year 1908-1909, gross, $80,578; det. oper., $42,684.— (V. 84, p. 995.)
Rentals paid......................................... 2,495,020 2,342,690
+152,324
T a x es......................
1,067,772
1,065,726
+2,046
CHATTANOOGA STATION CO.— Owns union passenger station opened
2,000,0002,300,000 —300,000 Dec. 1 1909 and approaches at Chattanooga, Tcnn., used by the Southern
Renewal funds, A c.......................
Dividends (8 % )................................... 2,194,000
2,194,000
........
Ry., Central of Georgia, Alabama Great Southern and CIn. N. O. *A Texas
Pacific, which each owns one-fourth of the stock and guarantees the bonds
Balance, surplus________________
$343,044
$628,529 •—$285,485 Jointly and severally, p. A 1., by endorsement. Rental covers bond Interest
and 4% on|stock.— (V. 84, p. 50.)
Old Basis—
1907-08.
1906-07.
1905-06.
Gross earnings rail lines____________ $22,614,936 $22,772,568 $20,523,031
CHERRYVALE OKLAHOMA & TEXAS RY.— (V. 80. p. 018.)
Net earnings______________________ $9,453,257 $10,913,626 $9,865,865
CHESAPEAKE & OHIO RY.— (See M ap.)— Operates from Newport
'Total net income___________________ $11,553,077 $12,698,938 $11,472,420
News.Va.,
and Wash., D.C., to Cln..O., and Loulsv., Ky., with branches.
— (V. 88, p. 157, 1436; V. 89, p. 410, 777, 843. 1410; V. 90, p. 236.)
Lines owned in fee—
Miles.] Controlled by stock—
Miles
CENTRAL RR. OF PENNSYLVANIA.— See page 17 2.
Bridge—Covington, K y., to Cin­
Old Point Comfort and Newport
z
cinnati. Ohio_____________ _
News, via Charlottesville, to
CENTRAL RR. OF SOUTH CAROLINA.— Owns from Lane, S. C., to
Big Sandy River______________ 513 Coal River R y ., St. Albans to
Sumter, S. C., 40.2 miles; spurs, Ac., 1.61 m .; total, 41.81 m. Leased to
Clothier, VV. Va., 50 miles,
Atlantic Coast Line R R .; rental. $31,000 yearly and taxes. Stock. $170,- Richmond via Lynchburg.to Clif­
with branch________________
64
ton Forge, Va------------------------ 230
•000; par, $50. In 1908-09, rental, $31,000; general expenses, $255; lnt.
Lines leased —
Branches In Va. and W. Va--------442
$18,000; dlvs. (7.6% ), $12,920; balance, deficit, $175.— (V. 64, p. 887.)
Big
Sandy
River
to
Covington..150
ISundry
branches
leased-----------21
CENTRAL RY. OF SOUTH CAROLINA.— (V. 82. p. 927.)
Denton, Ky., to Lexington______103 Trackage to Louisville--------------84
CENTRAL VERMONT RY.— Operates from Rouse’s Point, at north end Big Sandy Jet. to Elkhorn City,
Trackage to Washington, D. C.
85
with branch_______
128 Other trackage----------------------31
of Lake Champlain, to New London, Conn., with branches. 536 miles In all,
of which 160 miles leased, viz.: New London A Northern (see that co .). Branches In Kentucky------------------ 55
——
Total system June 30 1909-.1.897
121 miles; Montvllle Branch, 3; West River R R .. 36 m.
ORGANIZATION.— Succeeded May 1 1899, per amended plan In V . 67,
.Second track (304 owned)------- 380
ip. 735 the Central Vermont Railroad, foreclosed. V. 68, p. 1076.
Also owns one-sixth Interest In the Richmond-Washington Co.
SECURITIES, Ac.— The Grand Trunk R y. holds $2,185,100 of the $3,­
000,000 stock, and under a traffic contract will make good any deficiency
HISTORY, Ac.— In 1888 reorganized without foreclosure. The stock­
In earnlna-s to meet Interest on the new firsts up to 30% of Grand Trunk holders voted Oct. 19 1909 to purchase the Coal River, Raleigh A
gross receipts from traffic Interchanged. Form of guaranty, V. 85, p. 283. Southwestern and Virginia Air Line railways. V. 89, p. 720. In Jan.
■Central Vermont Transportation guaranteed 5% bonds, V. 88, p. 1252.
1909 a syndicate headed by Edwin Hawley acquired about $24,000,000
EARNINGS.— 5m os.,J1909...............Gross, $1,693,612; net, $518,437 stock, giving them virtual control. V. 88, p. 294. Owns one-sixth Interest
July 1 to Nov. 30. 11908________ Gross, 1,556,781; net, 309,959 In majority Hocking Valley com. stock; see that company.
Year—
Gross.
Net.
Oth. Inc
Charges.
Bnl..sur
STOCK.— In Oct. 1909 only $7,300 preferred stock remained out.
Year—
Gross.
Net.
Other Inc.
Charges. Bal. ,Sur.
DIVIDENDS.— 1899 to 1908, both Inclusive, 1% yearly. In June 1909.
1908-09......... $3,795,332
$693,164
$22,980
$713,027
$3,117
1907-08--------- 3,725,280
700,380
13,840
710,667
3,.>53 1% (quar.); Sept., 1%; Dec., 1% . V. 88, p. 1312; V. 87, p. 1663.
OFFICERS.— Pres., Charles M. Hays; Clerk and Treas., W. H. ChalTee
BONDS.—Abstract of consol, mtge. ot 1939 In V. 49, p. 147; V. «6, p
St. Albans, Vt.— (V. 87, p. 1009; V. 88, p. 1252; V. 89, p. 1223.)
1588; of Richmond A Alleghenv mtges.. In V. 51. p. 144.
The general mortgage of 1802 (Central Trust Co. and II. T. Wickham,
CHARLESTON TERMINAL CO.— ROAD.— Owns terminal road In
trustees) Is tor $70,000,000. but additional amounts at $25,000 per mile may
Charleston, S. C., 5.02 miles; track laid with 60-lb# steel.
be Issued for double-tracking. Of the $70,000,000 as above, $32,691,000
Company also owns 14 wharves, 30 warehouses, about 30 acres of land
bonds were reserved to provide for the $30,000,000 consols of 1889 Issued
4 cotton compresses. Ac., on the city’s water front, these being connected or
Issued, Ac. See full abstract of mortgage In V. 54, p. 644;
■by Its own road with the other railroads entering the city. V. 77, p. 298, alsotoV be
p 642; V. 55, p. 335, and V. 83, p. 1523. In Juno 1909 $44,­
148. Stock, $200,000, owned Jointly by Atlantic Coast Line R R . and 4 13,000 54
been listed on N. Y. Stock Exchange of which $5,800,000 were
Southern Rv..which agree to make good any deficiency In Interest on bonds. Issued forhad
second-track
$38,523,000 for other purposes, leaving $31,131 ,­
EARNINGS.— Gross, year ending June 30 1908, $194,209; net Income, 000 reserved to retire and
underlying bonds. $339,000 available for Improve­
$70,377; lnt. and taxes, $44,852; bal., sur.. $25,525.— (V. 77, p. 146.)
ments and $6,000 to retire remaining unexchanged pref. stock. V. 83
CHARLESTON UNION STATION CO.— Owns passenger station at p. 1469, 1523; V. 84, p. 626, 157.)
'
Charleston, S. C., used by Atlantic Coast Line and Southern R y ., which each
The stockholders voted Feb. 9 1909 to authorize an Issue of general
owns one-half the stock and guarantees the bonds, p A l, by endorsement. funding and Improvement mortgage 5% 20-year bonds (limited to $30,­
000,000) to fund the $7 ,500,000 6% notes of 1907 and 1908 which were
Rental covers Interest on bonds and 4% on stock. V. 84, p. 50.
CHARLESTON & WESTERN CAROLINA R Y.— Port Royal. S. C.. via called for Dayment July 1 1909, and provide for future requirements for
Augusta, Ga., to Spartanburg. S. C., 245 m.; branches to Anderson and extensions. Improvements, equipment, Ao., of which $11,000,000 has been
Greenville, S. C., 94 m.; leased, 2 m.; total, 340 m. Entire stock and por­ sold. V. 87, p. 1663; V. 88. p. 99. 157, 1312.
tion of Incomes owned by Atl. Coast Line Co.
V. 66, p. 38, 335. Dlv. on
The Louisville & Jeffersonville Bridge bonds, of which $4,500,000 are out­
■Incomes, 2% for 1903-04; 3% for 1904-05; 5% for 1905-06.
standing, are guaranteed Jointly and severally by the Chesapeake A Ohio
STOCK.— $1,200,000; par, $100. See Augusta Term. Ry. V. 66, p. 383. and Cleveland Cincinnati Chicago A St. Louis; any deficit on account of
EARNINGS.— 5 mos.,11908-09. ......... Gross, $643,517; net, $169,679 the hrhlcre Is navablc bv them In the proportion of one-third and two-thirds
July 1 to Nov. 30.
J1907-08............. Gross, 561,586; net, 132,605 respe?tlvely-6ee^ V. 6ofp . 130; V. 61. p. 327 559;: V. 62. p. 84. and separate
statement for Louisville A Jelfersonvllle Bridge Co.
REPORT.— For year ending June 30 1909, gross, $1,410,029; net (before
Of the Greenbrier Ry. 4s of 1900, guaranteed prln.and lnt., and assumed In
taxes). $338,719, against $262,505 In 1907-08. In 1907-08, gross, $1,408.­ 1903-04, $1,000,000 arc reserved for extensions and Improvements. See
139; net, over taxes, $191,632; other Inc., $23,357; lnt. on bonds, $172,000; guaranty, V. 72, p. 626; see also V. 71, p. 554, 602, V. 70, p. 015. Of the
hire of equipment, Ac., $39,114; surplus. $3,874. Pres., J. B Cleveland. Big Sandy 4s of 1904, remaining $229,000 Is reserved for extensions. V. 79.
Spartanburg, S. C.; See.. R. D. Cronly, Petersburg, Va.— (V. 73. p. 1207. p. 917- V. 82, D . 297; V. 87, p. 225, 414, 1418. Guaranty, V. 81, p. 668.
Of t’h p C o a t River 4s of 1005. $2,250,000 has been Issued on the 73 miles
CHARLOTTE MONROE & COLUMBIA R R .—McBce. S. C., on Seaboard
Air Line, to Jefferson. 22 m. Stock. $48,000. For year ending June 30 from St 6Albans tef Pe y ton a, W . Va.. Ac., with 2 branches. 10 m and about
1909, gross, $15,402; net, $5,673; lnt. on bonds, $2,173. Control pur­ 11 m. under construction! the remaining $750,000 Is reserved for extenchased Sept. 1909 by Ohio parties. V. 89, p. 1346. Pres, and Gen. Supt., slons and Improv’ts. V. 80, p. 2219; V. 83, p. 693; V. 89, p. 720Paint Creek Br. 4s $225,000 reserved for extensions. V. 81, p. 974, 910.
Loran A. Kerr, McBee, S. C.; Sec. and Treas., W. S. Blakeney.
Raleigh & Southwestern 4s, V. 84, p. 1114; V. 89, p. 720.
CHATEAUOAY & LAKE PLACID RY.— (See Map Del. & Hudson.) —
Operates from Plattsburg, N. Y ., to Lake Placid, 80 miles, of which Platts­
Car Trust Series 4% Gold (Denomination $1,000 each).
burg to Dannemora, 16 miles, Is leased from State of New York for $1 and
Mature in Installments.
free transportation of freight to the State’s Prison at Dannemora.
Date.
Outstanding.
Aug. ’ lO-’ l l
$100,000 yrly.
Stock. $3,450,000, of which $3,000,000 Is 4% pref., the latter all owned “ A” 1901................................ $200,000
Aug.
’ 15-’ 10-’ 12
200,000 yrly.
by D. A H. V. 84, p. 50. Leased to the Delaware A Hudson until Dec. "B
1902_________________ 600,000
Mch. UO-Sept. ’ 12 50,000 8.a.
31 2403, any balance over expenses of operation. Interest, taxes, main­ "C ” 1902
................... 300,000
Aug. ’ 10-Aug. ’ 13 200,000 yrly.
tenance, damages, dividend on pref. stock, Ac., to go to the lessor. 1 he " D ” 1903
................... 800,000
Juao ’ 10-Dec. ’ 13 50,000 s.a.
lease Is subject to revision at 5-year Intervals s'nce Jan. 1 1908 on request of “ E” 1903
400,000
Juno ’ 10-Dec. ’ 14 35,000 s.a.
either party. V. 81, p.013. There are also $24,000 Saranac A Lake Placid " F " 1904__________ _____ - 350,000
Apr. ’ 1 0 -A p rll’ 15 90,000 s.a.
2d 5s due Nov. 1 1913.— (V. 81. p. 613; V. 84, p. 50, 930.)
1905
...................
990,000
•*G”
Apr. ’ 10-Aprll’ 16 80,000 s.a.
•H” 1906............................... 1,040,000
CHATTAHOOCHEE & GULF RR.—Columbia, Ala., to Floralla, 92 m.
Juno
’ 10-June *16 50,000 s.a.
I”
1906...............................
650,000
LEASE.— Leased In 1900 In perpetuity to Cent, of Georgia Ry. for 6% on
Aug. ’ 10-Aug. ’ 16 95,000 s.a.
....................1,235,000
$436,400 stock and $336,000 bonds, of which 1% to be used as a sinking •J” 1906
Apr. 15’ 10-Oct.’ 16 80,000 s.a.
1906
....................1,120,000
fund for retirement of bonds, upon completion of which rental will be 5% on •K”
July ’ 10-Jan. ’ 17 113.000 s.a.
....................1,572,000
stock, payable J-J. See Cent, of Ga. R y.— (V. 81, p. 1722; V. 87, p. 1663.) ” L” 1907
Aug. ’ 10-Feb. ’ 17 112,000 .s.a,
CHATTAHOOCHEE VALLEY RR.— Standing Rock, Ga., via W . Point, to “ M 1907............................... 1,578,000
Interest
paid
semi-annually
as
Indicated
by maturity date: ” A” and
Jester, Ala., 34 m. Stock auth.. $1,000,000; Issued, $110,000; par, $100.
Bonds, see table above. For year ending June 30 1909 (34 miles), gross, “ B” at Girard Trust Co.. Phlla.; "C ," “ E” and " F ” at oHIcc of Blair A Co.,
N.
Y.;
”
D,”
“
G”
and
"
H
”
at
Fidelity
Trust
Co., Phlla.; “ I,” ’ J.’
L”
.$92,080: net, $29,161. In 1007-08,lgross,i$49,846; net,'t$19,497; lnt. on
and *‘ M” at Blair A Co.; ” K ’ at Guaranty Trust Co.
•bonds, $6,000;J.surp., $13,497.ijja<
dtS ^

JAN.,

1910. J

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

Chesapeake A Ohio— (Concluded)
Greenb A New Rlv RR 1st M g ass’d (V 75 p 562)
Greenbrier Ry 1st M $3,000,000 g assum ed-..Ta.c
Big Sandy Ry first mtge $5,000,000 gold___ Ce.c
Potts Cr Br 1 st M $1,000,000 auth(V.83,p.693)Ce.c*
Coal River 1st M g assumed___________ . Ce.c*
Raleigh & Southw 1st M $1,500,000 g assumed._Ce
Virginia Air Line 1st M $900,000 g assumed
c*
Gen fd & imp M $30,000,000 red 107H-Usm.xc* Ar*
Guaranteed Bonds
Elevator Co first mortgage gold p & 1 guar
Ce.c
Second mtge for $500,000 Income non-cum___ c
Louis & Jeff Bdg 1st M $5,000,000 gu p & 1 e n d -.c
Norfolk Term A Trans 1st M (V 67 p 322) guar p &
Western Pocahontas Corp 1st M (V 84 p 995)___
do
do
do
Extension No. 1 ..
do
do
do
Extension No. 2 ..
Rlchmond-Wasldngton Co (one-sixth Interest)___
Chesapeake Western— C & W RR 1st M gold______N
Chesapeake Western Ry mtge $1,435,000 g -.-E q .c
Chesterfield & Lancaster— 1st M $750,000 g o ld -.K .c
Chestnut Hill R R —Stock rental P A R R y .................
Chicago & Alton RR—Common stock______________
Preferred stock 4% non-cumulatlve______________
4% cumulative part and prior lien stock................
Chlo & Alton RR (old) ref M g (see text)-IC.xc* Ar*
First lien (old Ry.) M subject to call at par._F.cAr
Debentures $2,000,000 authorized, subject to cali.Ce
Joint equip notes ($9,500 due s-a) (V 76 p 47)___
0 A A Eq Assn cts Ser A BAC g gu$160,000 s-a..Ale
do
do
Ser D g gu due $113,000 s-a..Ale
do
do
$82,000 Ser E due s-a.......... --Ale
do
do
Ser F $13,000due s-a___________
Miss Rlv Br 1st M g assumed 8 f drawn at 100___ c*
Kansas City St Louis A C preferred stock guar_____
Joliet & Chicago 7% stock perpetual guar by C & A
Louisiana A Missouri guaranteed preferred sto ck ..

Par
Value

18
100
85
20
63 H

1891
$1,000
1,000
1900
1904
1,000
1906
1.000
1905
1,000
1906
1,000
1,000
30 1907
— - 1909 1,000 Ac
1888
1,000
1888
1,000
____
1895
1,000
1898
1,000
____
1905
1,000
____
1906
1.000
____
1906
1,000
____
1903 1000 Ac
27 1896
500 Ac
41 1901
1,000
36 1005
1.000
50
4
______
____
100
____
______
100
100
889 1899 1,000 Ac
943 1900 1,000 Ac
____
1907
____
______
1,000
____
1905
1,000
____
1906
1,000
1,000
1008
1.000
1909
____
____
1877
1,000
162 ______
100
37 ______
100
101 —
100

anteed

$26,630,717 $25,843,272 $25,796,861
. 16,366,837 17,186,747 16,650,307
$10,263,879
.
708,863

$8,656,525
762,832

$9,146,554
244,360

Total net Income................................. $10,972,743 $9,419,357 $9,390,914
Interest on bonds,rentals, Ac_________$7,183,416 $6,868,510 $6,619,958
Taxes -----------------------------------801.600
791,060
734,423
Extraordinary expenses_____________
212,449
634,327
1,347,555
Dividends ...................................... (2%)1,255,814(1%)627,007(1%)627,907
Balance, surplus---------- '.________ $1,519,464
$497,553
$61,071
OFFICERS.— Pres., George W . Stevens, Richmond. Va.; 1st V. P..
Decatur Axtell; Sec.-Treas., James Steuart MacKle; Comp., L. F. Sullivan,
Richmond, Va.
Directors— Frank Trumbull, Chairman; Edwin Hawley, Frank A. Vanderllp, T. p . Shonts, H. E. Huntington, F. W. Scott, Decatur Axtell,
Georgo W. Stevens and James H . Dooley. N. Y . office, 71 Broadway.—
(V. 88, p. 1312, 1372, 1619; V. 89, p. 40, 282, 525, 534, 720, 10(58.)
CHESAPEAKE WESTERN RV.— Owns North River Gap, Va., to
Bridgewater, 14 m .; leases for 99 years from May 1 1002 Chesapeake &
Western R R ., Bridgewater to Elkton, 27m .; total, 41 m. Projected to tidewafer
Chesapeake Bay, and westerly Into West Virginia coal fields, of
which 14 m., from Bridgewater to North River Gap, Is completed. In 1908
all the stock and bonds were acquired by W. E. D. Stokes. V. 86, p. 1041
Stock authorized, $50,000,000; outstanding, $1,419,600; of which $008.-’
400 Is preferred. Ches. & West. R R . has $533,500 common and $31,300
pref. stock outstanding. C. W Ry. mtge. of 1901, V. 73. p. 899 1356.
Year ending June 30 1909 (41 miles), gross, $80,011; net, $13,982; other In­
come, $34,125; lnt. on bonds, $56,760 (not paid); taxes and rentals, $38,189;
bal., def., $46,842. Pres., W. E. D. Stokes, The Ansonla, N. Y.; Treas.,
W. H. Hall.— (V. 78, p. 2383; V. 86, p. 980, 1041, 1284.)
CHESTERFIELD & LANCASTER RR.— Owns Cheraw, S. 0 .. to Pageland, 38 miles, an extension of 18 m. from Ruby towards Lancaster being
completed .July 1907. Bonds (limited to $750,000) are Issuable at $5,000
per mile. V 81. p. 1790. There were June 30 1908 *67.000 debenture 6s
outstanding. Stock. $500,000, a majority being acquired In Juno 1909 by
the Seaboard Air Line Ry.; par, $25. For year ending June 30 1909, gross,
$54,246; net, $19,948. Year ending June 30 1908, gross, $62,552; net,
$15,016; other Income, $918; lnt., taxes. Ac., $13,973; bal., sur., $1,962.
Pres., L. G. Haas; Treas., R . L. Nutt.— (V. 89, p. 40.)
CHESTNUT HILL RR.— Owns from Germantown to Chestnut Hill, Pa..
4 m.: being double-tracked May 1902. Re-leased In 1896 to Phlla. A Read.
R y., the rental being reduced from 12% to 6% on stock, the latter being
Increased In June 1902 from $120,650 to $195.650.— (V. 75, p. 76.)
CHICAGO & ALTON RR.— (See Map Toledo St. Louis & WesternJROAD.—Chicago to St. Louis, Kansas City, Ac., in all 998 miles.
Road owned—
Miles.
Road owned—
Miles.
Chicago to East St. Louis, 111____ 280 Mexico, Mo., to Cedar City, M o .. 50
Sherman, 111.,to Grove, 111_______ 51 Roodhouse, 111., to Kan. C., Mo..251
Eldred to Barnett_______________ 49 Bloomington to Wann, via Jack­
Coal City Line, Ind____________ 27
sonville, Godfrey and Upper
Dwight, 111., to Washington and
Alton (all In Illin ois).-............. 158
Lacon, III___________________ 81 Trackage to Peoria, 111., A c______ 17
lies to Murrayvllle. Ill____________ 34
____
Total owned and operated July 1 1909 (210 m. double tracked)...........998
Also operates Jointly with Cleve. CIn. Chi. A St. L. from Wann to East
St. Louis, 18 m., and with Atch. T. & S. Fe from Joliet to Pequot, 20 m.
The stock of the Peoria Ry, Terminal Co. Is owned by the Chicago & Alton
and Chic. R. I. & Pac. R y., which guarantee the first mtge. bonds ($1,500,­
000 auth. Issue) and $280,000 2d mtge. bonds. V. 81, p. 10991 V. 83,
p. 752, 1171, 1291; V. 84, p. 451; V. 85, p. 159.)
ORGANIZATION.— The (old) railway company was organized In April
1900 and purchased substantially all the stock of the Chic. A Alton Railroad
The two companies were consolidated In Mch. 1006 per plan V. 82, p. 451.
the Railway Issuing Its cumulative 4% participating and prior lien stock In
exchange for the outstanding stocks of the Railroad, the Railway changing
Its name to the 0 & A. Railroad. V. 82 p. 160; V. 70. p 686.095.
STOCK.— The cumulative 4% participating and prior lien stock Is enti­
tled, In addition to prior right to accumulative dividends at the rate of 4%
per annum to receive additional dividends equal to the rate of dividends de
clared on the common stock of the consolidated company. In Aug. 1907
the Toledo St. Louis A Western purchased from the Rock Island the con
trolling Interest, viz.: $14,420,000 com. and $6,380,000 pref. stock. V. 84,
p. 468, 529, 702. The Union Pacific owns $10,343,100 pref. stock, acquired
In 1904. V 84, p. 1488.
DIVIDENDS. — Semi-annual dividends of 2% on pref. and participating
and prior Hen stocks, paid July 1906 to Jan. 1910, incl., and In Aug.




Amount
Outstanding

Rate
%

$339,000
1,902,000
4,719,006
600,000
2.250,000
750,00(1
900,000
11,000,000

6g
4g
4g
4g
4g
4g
5g
5g

820,000
4g
450,500
4
a4,500,000
4g
500.000
5
750.000
4 'A
114,000
4J*
51,000
4>*
9,500,000
4g
666,000
5g
1,419,000
4g
176,000
5g
195,650
6
19,542,800 4 in 1909
19,544,000 4 in 19,9
879.300 See text
45.350.000
3g
22,000,000
g
1,116 000
5
57,000
4
1.766,000 4 A 5 g
1,469,000
4g
1,476,000
4H g
224,000
4H
72,000
6g
6
1,750,000
7
1,500,000
329,000
7

When
Payable
F
M
J
J
J
J
M
J

A
A
A
A
A
A
A
A

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

A Aug 11942
N Nov 1 1940
D June 1 1944
J July 1 1946
D June 1 1945
.1 July 1 1936
N May 11952
J Jan 11929

A

A O Oct 1 1938
Oct 1 Oct 1 1988
M A S Mch 1 1945
F A A Feb 1 1948
F A A Aug 11945
F & A Aug 1 1945
A
A O Oct 1 1946
J A D J une 1 1943
F
A Aug 1 1945
A A O Oct 1 1951
F A A Aug 1 1955
O— M Dec 4 1909 1U
F & A Feb 15 ’ 10, 2 %
J A J Jan 15 1910. 2%
J A .1 Feb 15 ’ 10, 2%
A A O Oct 1 1949
.T A J July 1 1950
J A D Junel 1922
J 16 A D To Dec 151912
Various To Nov 1915
J A D June’ 10-June’ 16
t A N Mch ’ 10-Nov ’ 18
T. 1 F e b .1919
A A O Oct 1 1912
(5— F Feb 1 1910 l h
J—J Jan 6 1910 1 Ji
F A A Feb 1 1910 3H

jolntl y and se verally with Clevelan d CIncIn

CHESAPEAKE & OHIO RY. (Concluded).
FINANCES.— In 1908 $2,000,000 consol. 5s were sold to retire 1st 6s due
July 1 1908. V. 86, p. 1041, 1342. In Feb. 1909 $11,000,000 “ general
funding and Improvement” 5s were sold, the provision for meeting capital
requirements for Improvements making possible the payment of larger
dividends. See above and V. 87, p. 1663.
EARNINGS.— 5 m os.,11909......... Gross, $13,149,264; net, $5,427,082
July 1 to Nov. 30.
j 1908-------- Gross, 11,147,327; net, 4,438,994
ANNUAL REPORT.— Fiscal year ends June 30. Annual meeting Is held
at Richmond on the Tuesday preceding the last Tuesday In October
Re
port for 1908-09 was given at length In V. 89, p. 525, 534; editorial, p. 506.
Year ending June 30—
1909.
1908.
1907.
Miles operated________________
1,897
1,841
1,832
. $4,482,004 $5,120,529 $4,888,139
. 20,885,511 19,571,609 19,974,861
. 1,263,201
1,151,134
933,861

Other Income_________________

33

RAILWAY STOCKS AND BONDS,

J P Morgan & Co N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New York Trust Co N Y
New York Trust Co N Y
See text
Knickerbocker Tr Co N Y
Treasurer’s Office Phlla
60 Wall St New York
do
do
do
do
t National Bank.N Y
do
do
do
do
Equitable Trust Co N Y
do
do
do
; Na
do
do
do

do
do
do
Y
do
do
do

natl Chicago A St Louis

1908 1 % and In Feb. and Aug. 1909 and Feb. 1910 2% extra on participating

ireD.,
t0Kk'«<2JTo.>Iv\?n
oPom
l % ‘ Pald Au&- 15 1808; 1809, 4% (F. & A.); 1910,
V. 88,
p. ’157.
,, BUNDS.—The first Hen (rid Ry.) 3 >$s of 1900 are secured by a direct first
lien on Springfield to Grove, 54 m., and a Hen on the remaining property
owned subject to the mtge. securing the refunding 3s of 1899 and certain
obligations and liens existing at the consolidation In 1906. V. 70, d . 894.
944. See application to list In full In V. 71, p. 1021, and plan. V. 82. d . 451.
The Railroad (old) mtge. securing the 3s of 1899 will provide funds for Im­
provements and extensions. Bonds In excess of $40,000,000 were to be
Issuable thereunder on vote of two-thirds of stockholders for extensions of
not over 500 miles main track, at not exceeding $20,000 per mile, to fund
leased line rental obligations and for future betterments not to exceed
$5,000,000, at not over $1,000,000 per annum, from Jan. 1 1900. In July
1909 $45,350,000 were outstanding, $8,000,000, which were pledged to
secure the $6,000,000 5% notes of 1907 having been sold, and the notes
called for payment on July 1 1909. See circular, V. 69, p. 178; also V. 69.
p. 26. 129, 541; V. 70. p. 429, 739, 995; V. 84, p. 480, 507, 626, 803, 809;
V. 88, p. 99. 293.
Stockholders of Railroad (. Id) Co. voted on Sept. 7 1904 to authorize the
Issue of refunding bonds In excess of the $40,000,000 then sold and pledged,
viz.. $5 000,000 for betterments and $350,000 for purchase of Quincy Car­
rollton A St. T,ouls Ry. V 79. p. 211. 967.
There are $25,355 5% Pullman Co. equip, notes due quar. to May 15 1910.
Equipment notes of 1908 are secured on 2,000 steel coal cars and equipment
notes of 1909 on 20 locomotives. V. 87, p. 1237.
LATEST EARNINGS.— 11909---------Gross, $6,110,378; net, $2,438,065
5 mos., July 1 to Nov. 30J1908______Gross, 5,620,801; net, 2,383,056
REPO RT.— For year ending June 30 1909 was In V. 89, p. 989.
„
.
1908-09.
1907-08.
Gross earnings.........................
$12,500,682 $12,102,790
7,408,598
7,658,416
Operating expenses.............................
Net earnings.................................. ........................$5,092’,084
$4,444,374
Net Income ---------------------------------------------------- $5,186,101
$4,453,623
Hire of equipment and rental.......................
$367,537
$1 67 ,514
Taxes------- -------------------------380,153
356,733
Interest on bonds, A c.................
2,531,126
2,367,440
Dividends on guaranteed stocks...........
241,024
241 024
Dividends on prior lien s to c k --------------------------- (8%)70,344 (5%)43,965
Dividends on preferred stock (4%)
---------781,760
781,760
Dividends on common stock ................................ (4%)781,712 (1%)195,428
Balance, surplus after dividends_____________
$32,445
$2 9 9 , 7 5 9
Old Basis—
1906-07.
1905-06.
1904-05.
Gross earnings.......................................$12,809,426 $11,586,094 $11,797,314
Net earnings............................ ..........$4,784,974 $3,767,191 $4,194,651
OFFICERS.— Chairman of Board, Thomas II. Hubbard; Pres., Theo. P.
Shonts; V.-P., Edwin Hawley, Geo. H. Ross and W . L. Ross; Chairman
Executive Committee, Thos. H. Hubbard: Treas., F. H. Davis.; Sec. and
Asst. Treas., J. Steuart MacKle.
Directors—F. P. Frazier, J. J. Mitchell, Edwin Hawley, Thomas H.
Hubbard, Theo. P. Shonts, Geo. H. Ross, Joy Morton, F. H. Davis. Edward
Tildcn, Wm. G. Beale and H. E. Huntington.— (V. 89, p. 918, 989.
CHICAGO BURLINUTON & QUINCY RR.— (See M ap.)— ROAD— Op­
erates a great system of roads extending from Chicago westerly, reaching St.
Paul and M nneapolls, Minn.; St. Louis and Kansas City, Mo.; Omaha. N eb.;
Denver. Col.; Cheyenne, Wyo.; Black Hills, S. D., and Billings, Mont. The
accompanying map shows clearly the system, viz.:

j

Lines east of Missouri River. . . f l 1,350 Lines leased.....................
W
Lines west of Missouri River----- 4,3831Narrow-gauge lines............. .......

2 15
73

Total operated. Tune 30 1909......................................................... ........^ 0 2 1
In Deo. 1908 $23,657,500 of the $31,000,000 Colorado A Southern com.
mon stock (practically a controlling Interest) was acquired, affording con­
nections with the Gulf of Mexico, the C. A S. system Including trackage
aggregating 2 769 miles. V. 87, p. 1663; V. 88, p. 157, 685. Extension
from Klrby, W yo., east to the Powder River, 100 miles. Is proposed, of
which 40 miles under construction.
ORGANIZATION. A c.—This was a consolidation in July 1875 of the
Chicago Burl. A Quincy in Illinois and the Burlington A Missouri River In
Iowa
Numerous subsidiary and other lines have since been merged In
the C. B. A Q.. among them Chicago Burlington A Northern, Kansas City,
St. Joseph A Council Bluffs, Hannibal A St. Joseph, Burl. A Missouri. Ac.
Sioux City A Western Ry., 229 m., was merged Dec. 1908 V 87 p 347
In 1901 $107 613,501' of the *110,839.100 stock was exchanged'for the
Ifdnt 20_year 4% bends of the Gt. Northern and Northern Pacific, secured
by the deposit of the stork In trust, on the basis of $200 In bonds for $100
stock. See circular, V. 72, p. 87 J, and application to list, V 73, p. 293.
and description of b mds undet Great Northern.
CAPITAL STOCK.—-The stock has been Increased for the acquisition of
n e w 11 J ctJ,re.nl?nt. ,of over *18.000.000 convertible debentures. Ac.; In
1S8(r, a 1
S™ was
See “ Organization” above.
DIVS.l 95to 97. 98. 99 to Sept.’O]. ’ 02 to July’07. Oet.’ 07. ’08. ’09. 1910.
Per ct.j 4 yearly 5}*
6 yearly
7 yearly
8
8
8 Jan,,2
.. ? ° ? DS'— In APrtl 1809 the holders of bonds of various Issues (marked
x above) were offered the option of exchange for general mortgage 4%
bonds on certain terms. V. 88, p. 1060. 1127, 1559; V. 89, p. 40, 720.
‘ 1141. The general mortgage bonds ($300,000,000 authorized Issue, Interest
not to exceed 5%) are a first Hen on about 3.070 miles of road and on retire­
ment of the outstanding underlying bonds, for which bonds are reserved as
below noted, will be a first lien on the entire mileage owned, aggregating
V/ o a
„•. „ Tbe bonds h»ve been Issued or are issuable as follows (see
V. 86, p. 1342. 1466; V. 88, p. 504, 685.)

34

RAILWAY STOCKS AND BONDS.

•RAILROAD COMPANIES
lFor abbreviations, &c., see notes on first page]
Chicago Burlington & Quincy— Stock_______________
Gen mige $300,000,000 lawful m oney.. _Ce.c*Ar*
Illinois DIv first mortgagel$85.000,000 currency re(V. 83, p.625; V. 69, p.283)/deemable at 105. -NB
xSInklngfund Iowa DIv 5s (col trust) drawn at 105
Sinking fund mortgage 4s drawn at 100________ cAr
Sinking fund 4s (So W Dlv) drawn at 100_____c* Ar
Denver exten (coll tr) bonds s f drawn at 100-NB.c*
x Debentures for Hannibal A St Joseph stock_____c*
xNebraska ext $20,000 p m (s f not drawn) NB.c* Ar
xB A Mo RR In Neb (Land gr s f drawn at 100. NB1
xCon M $14,000,0001
do
drawn since 1908.1
xHannlbal A St Joseph cons M now 1st M___ F.c*
K C St Jos A Co B—
t
1st Ms Nod A Tark Val RRs s f (drawn at par) . c*
xRep Val 1st M guar (red at par) s f $14,000 yrly— c
Chicago Cincin & Louisv—
C R A M 1st M g _____________________ _____ OB.c*
Chicago A Cincinnati 1st M $750,000 gold call text
Cincin A Ind W first mtge $600,000 call text-.OB.c*
Chic Cln A Louisv gen A ref mtge guar text.-A B .c*
Hoosler Equipment 1st M Series A guar p A 1__ BB
Equipment trusts, part due yearly_________________
Chicago & E 111— Pref stock 6% non-cum ($10,000 pm)
Danville A Grape Creek R R — 1st M assumed___ c*
First mortgage extension______________________ c*
Consolidated mortgage (for $5,948,000) gold-.Ce.c*
Collateral trust bonds sinking fund_____________ c*
General consol and 1st M $30,000,000____ Ce.c’ Ar
Chic A Ind Coal— 1st M $25,000 p m assum-.Alp.c*
Evansville Terre Haute A Chicago Income mortgage
Refund A Imp M (text) gold red at 102J$Ba.xc'' Ar*

Miles Date
Road Bonds

Par
Value

19118
J1899
11899
11879
11879
1881
370 1881
1883
1,471 1887
J1878
11878
289 1881

$100
1,000 Ac
1,000 Ac
1,000 Ac
1,000
1,000
1,000
100 Ac
1,000
1.000 Ac
600 Ac
600 Ac
1,000

59 1880
90 1879

1,000
600 Ac

8.495
11,648
I
1 891
i

180
50
33
264

1909
1900
1902
1902
1903
1902
1903

9 1880
14 1881
191 1884
1887
817 1887
176 1885
1881
817 1905

Amount
Outstanding

Rate
%■

110,839,100 8 In 1909
42 307,000
4
m50,835000
3H
n34,165,000
4
b2,277,000
5
c6.202,000
4
d3,667,000
4
4
e7.311,000
5
6,349,000
4
f 23.435,000
gl3,365 600 ( 6
1 6
5,829,000
6
il04,000
k934,000

7
6

1.360,000
5
1,000
1,804,000
5g
1,000
750,000
5g
1,000
600,000
5g
1,000
3,016,000
4H g
1,000
5
150,000
1,000
150,000
5g
100 8,830,700 6 In 1909
97,000
6
1,000
6
1,000
91,000
1,000
2,736,000
6g
1,000
27,000
6g
5
1,000 Ac 10,855,000
5
1,000 4.626,000
6
$150,000
1,000
1,000 Ac 1112,855,000
4g

[V ol.

When
Payable
Q—j
M A
J A
A
J
A A
A A
M A
F A
M A
M A
J A
J A
M A
J
J
A
F

.

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
Jan 1 1910 2 N Y Boston and Chicago
1958
Bank of Commerce. N Y
1 1949
Bank of Com N Y ; A Bos
1 1949
do
do
11919
do
do
1 1919
do
do
1 1921
do
do
11922
do
do
1 1913
do
do
1 1927
do
do
1 1918
Bank of Commerce Bost
1 1918
do
do
11911
Bank of Nor America NY

s Mch 1

J July
J July
() Oct
() Oct
H Sept
A Feb
N May
N May
J July
J July
S Mch

A D June 1 1920
A J July 1 1910

A
A
A
J A
J A
.T A
Q—J
M A
J A
A A
F A
M A
J A
M A
J A
J

lxxxx

Oct 11950
Feb 1 1952
June 1 1952
July 1 1953
July 1910-1912
To June 1013
Jan 3 1910 1H
N May 1 1920
1) Deo 11031
O Oct 1 1934
A Feb 11912
N Nov 11937
J Jan 1 1936
N May 1 1920
J July 1 1055
O
A
I)
J
J
D

Second Nat Bank Boston
Bank of Commerce Bost
Oct 1907 coup last paid
Aug 1907 coup last paid
Deo 1907 coup last paid
Amcr Loan A Tr Co Bost
Boston S Dep A Tr Bost
Amer Loan A Tr Co Bost
Hanover Nat Bank N Y
Central Trust Co N Y
Fourth Nat Bank N Y
Central Trust Co N Y
do
do
do
do
Metropolitan Tr Co N Y
Farmers’ L A Tr Co N Y
Bankers’ Trust Co N Y

b $723,000 and c $5,434,000 canceled not Included. d $2,2 93,000; e $4,103 ,900; f $5,5 20,000 1 n sinking fund (canceled) ; g $8,467,800.
The sinking funds held alive June 1909 of bonds abo ve: I $42,00 0; k $604 ,400; ni $29 6,000 ni$ 9,000.
Of which in treasury July 1909, s$2,000; U $2,238,0 00; xS ee optl on of exc hange for ge neral M 4 S. V. 88 88, p. 1060, 11 27, 1559; V. 89, p. 40.
Reserved to retire outstanding bonds of previous Issues aggre­
gating $167,565,000 (of which $17,428,300 were held In
various sinking funds)------------------------------------------------------ $175,000,000
Issuable to meet expenses of retiring said prior bonds_______
2,000,000
Issuable for reimbursing the treasury for outlays already made
by It for betterments and additions ($22,000,000 sold)___
45,000,000
Issuable for additions, Improvements and betterments of and
to the mortgaged property (of which $13,724,000 sold)__ 78,000,000
In Jan. 1009 $20,000,000 general 4s were sold, of which $13,724,000 were
used to purchase $23,657,500 Col. A South, com. stock, $6,000,000 for
acquisitions and Improv’ts and $276,000 to retire old bonds. V. 88, p. 685.
The Iowa Division bonds are a tlrst mtge. on the main line In Iowa from
Burlington to East Plattsmouth on the Mo. River, 272 miles, and on 621
miles of branches and 86 m. of second track. These bonds have a s. f. ol
1 H % ($203,800) yearly, for which the 4s are subject to call at 100 and the
5s at 105. The single main line and branches covered “ shall not exceed In
the aggregate 000 miles” at $16,000 per mile; on second track additional
$14,000 per mile. V. 65, p. 462.
The Nebraska extension bonds of 1887 are Issued at $20,000 per mile for
single and $10,000 per mile for second track on not exceeding 1,500 miles.
On merger of roads In Nov. 1007 the mtge became a direct first lien. Ab­
stract of deed. V. 45. p. 441: V. 85. p. 721.
Burlington & Missouri RR. in Nebraska consol, mtge. of 1878 Is now a
first mtge. or first coll, lien; they are subject to call for the sinking fund at
par; the “ exempt” bonds since 1908; $237,800 retired In 1909.
EARNINGS.— 5 m os.,11909___ Gross, $38,849,136; net, $12,128,625
July 1 to Nov. 30. ' J1908___ Gross, 34,860,273; net, 12,140,899
ANNUAL REPORT.— Fiscal year ends June 30. Report for 1908-09
was In V. 89, p. 1139, 1151 (see also editorial, page 1192), showing results on
all lines operated a d controlled.
1908-09.
1907-08.
Inc. or Dec.
Miles operated June 30_____________
9,279
9,282
—3
Freight _______________
$52,768,763 $53,036,306 — $267,543
Passenger_______ ’. ________________ 19,797,152 18,819,239
+977,913
Mall and miscellaneous.............
6,848,442
6,603,519
+244,923

CHICAGO & EASTERN ILLINOIS R R — (.See Map St. L. & S a n F r.)—
Operates road (double track to Danville Jet., loo ti .i Lorn Chicago, 111. to
Terre Haute. Ind., and bituminous coal fields; also to Thebes and Joppa. 111.
Lines owned in fee.
Miles. Branches to Coal Mines________
I5
Dolton to Danville, 111___________107 Rossvllle Jet. to Judyvllle, In d .. 14
Danville, 111., to Brazil, Ind______ 61 Hunt’s Extension_________
7
Momence Jet., III., to Brazil. Ind.130 Other__________________________ 2
Danville Jet., 111., to Thebes, 111. 277
Other Trackage, &c.—
J o p p a J ct.to J o p p a .n l_________ 16 Pana, 111., to E. St. Louis.......... .. 85
Clssna Jet. to Clssna Park, 111___ 11 Chicago to Dolton, Ch. A W. Ind. 17
Rossvllle Jet. to Sldell Jet , 111__ 34 Otter Creek Jet. to Terre Haute.. 6
Percy Jet. to La Crosse, Ind____ 46 Other lines______________
38
Milford Jet.. HI., to Freeland, Ind. 11
Coal Bluff, Ind., to Casey, Ind__ 7
Total operated July 1909______ 965
Woodland. Ill to Villa G rove.. . 62 Double track____________________177
Findley, 111., to Pana____________20
HISTORY. LEASES, Ac — In August 1002 the St. L. & San Fran, ac­
quired the greater part of the stock, as said below.
The Chicago A East. 111. owns $1,000,000 stock of Chic. A Western Ind.
Special lease of Chicago freight terminals, V. 78. p. 819. In 1904-05 ac­
quired control of the Evansville A Terre Haute, which forms part of the
tnrough line between Chicago and Evansville. V. 55, p. 995; V. 81, p. 1239.
STOCK — Common stock outstanding. $7,217,800 ($15,000 p. m .); pref.
$8,830,700. In addition, $6,408,300 com. and $161,300 pref. were held In
trust by Tmst Co. of America In July 1909 as a part of “ trust assets” under
agreement dated July 1 1905, for Improvements, acquisitions or refunding,
to be terminated on satisfaction of the St. L. A S. F. stock trust agreements
below referred to
V. 85, p. 1001.
In Aug. 1902 the St. Louis A San Francisco R R . gave In exchange for the
com. and pref. stock Its stock trust certificates at the rate of $100 thereof
for each $100 share. V. 75. p. 289. In Jan. 1905 all of the $7,217,800
com. and $6,211,700 of the $8,992,000 pref. had been exchanged on this
basis. The St. Louis A San Fran, has the option to retire the trust certifi­
cates at any time at $250 per $100 coni, stock trust certificate and $150 per
$100 pref. stock trust certificate, payable In gold, and obligates Itself to pay
olf entire Issue In 40 years from July 1 1902 at same rates, meanwhile obli­
$79,414,357 $78,459,064
Gross earnings____________
+ $955,293 gating Itself to pay 10 % dividends on the com. and 6 % on the pref. trust
$21,361,263 $20,005,003 + 1,356,260 certificates, respectively, these amounts being equivalent to 4 % on the
Operating Income after taxes.
Or.471,792 O r.246,612
Other Income_______________
— 225,180 principal sum to be eventually received In payment therefor. Upon fail­
ure to pay any dividend within 30 days after demand theiefur, any holder
Total income.................................... $20,889,471 $19,758,391 +$1,131,080 may surrender the certificates to the trustee and receive the shares repre­
Interest and sinking fund__________
8,551,336
7,642,902
+908,432 sented thereby. V 75. p. 289 393, 1031; V. 82. p. 48. A majority of
Betterments..................
2,268,816
3,225,995
— 957,179 common stock trust certificates were In 1905 exchanged for certificates In
Dividends on s t o c k ...........................(8)8,867,128 (8)8,867,128
.........
denominations of $1,000 each, representing 4 shares of common stock, bear­
ing 4 % Interest, and payable In 1942 at face value. See form V. 80, p 1856.
$1,202,192
Balance, surplus.
$22,367 +$1,179,825
DIVS.(%) 1 ’00. ’01. ’02. '03. ’04. ’05. ’06. ’07. ’08.
1909.
1910.
DIRECTORS.— Geo. B. Harris (Pres.), Daniel Willard, Darius Miller, On p ref.. I 6
6
6
6
6
6
6
6
6
6
Janl it
Chicago, 111.; J. J. Hill, St. Paul, Minn.; James N. Hill, Geo. C. Clark, Common J 4K 5M 6
6
8
5
8
10
10
June, 2 ______
W. P. Clough, John F. Talmage, Norman B. Ream, Geo. F. Baker and
BONDS.— The general consol, and 1si mtge. of 1887 (trustee, Central
Samuel Thorne, N. Y .— (V. 89, p. 1139, 1141, 1151, 1541, 1596.)
Tmst Co.) provides for the retirement of $6,307,000 prior bonds and for
CHICAGO CINCINNATI & LOUISVILLE RR — Owns Cincinnati Issue of bonds on new road at $18,000 per mile for single track; also for bonds
to Louisville Junction, Ind., 265 miles; trackage Louisville Jet. to Clil- for enulpmciR at $7,000 per mile and for double track at $8,000 per mile.
oago. 111., 18 m., total 283 miles. A consolidation In 1903; V. 76. p. 1247. In 1897 the gen. consols were limited to $30,000,000. See V. 64, p. 1088;
In March 1907 a settlement with the Cln. Ham & Dayton Interests was V. 78, p. 1446; V. 79, p. 1331; V. 80, p. 1728; V. 84, p. 1550; V. 85, p.
reached under which the $3,500,000 Perc Marquette collateral trust bonds 1645. Series B equip, bonds mature $57,000 each June and Dec. ami
secured by the C. C. & L. stock were canceled, the stock being returned to $56,000 each March and Sept.; Series C, $53,000 s-a., J-J; Series D, $15,000
the old holders, a debt of about $800,000 being canceled and the C. C. A L. J-J; Series E, $125,000 Feb. and Aug.; Series F, $220,000 F-A.
receiving $400,000 In reoelveis’ certificates of the Pere Marquette
V. 84.
Of the refunding and Improvement gold 4s of 1005 ($55,000,000 auth.
p. 507,693. Management was surrendered Jan. 1 1906 io the former owners. Issue), $7,519,000 are reserved for additions and Improvements. Including
On Feb. 13 1908 James P. Goodrich was appointed receiver, there being equipment, and $34,626,000 to retire, $ for $, $30,000,000 gen. consol,
a floating debt of $1,750,000 and many smaller claims being overdue. and 1st 5s of 1937, Issued and Issuable, and $4,626,000 Chicago A Ind.
V. 86, p. 420, 479. On May 26 1908 $1,000,000 6”;, receiver’s certificates Coal Ry. 5S. V. 80. p. 1424; V. 81, p. 1436; V. 88, p. 451.
were authorized, due In 3 y e a r s , but s u b ect to cal' a t par on anv |r ten st
EARNINGS.— 5 mosi, f 1909...............Gross, $4,972,105; net, $1,806,428
day. V. 86, p. 793, 1343; V. 88, p. 52. In Nov. 1909 $1,400,000 5% re­
July 1 to Nov. 30.
(1908...............Gross, 4,377,129; net, 1,303,639
ceiver’s certfs. were authorized, of which $1,360,000 were sold to retire the
outstanding $1,000,000 6% receiver’s certfs. called for payment Jan. 1 1910
REPORT.— For 1908-09 was In “ Chronicle,” V. 89, p. 1218.
and for Improvements, &c. V. 89, p. 1279, 1482.
1908-09.
1907-08.
Inc. or Dec.
Years ending June 30—
In Oct. 1909 Newman Erb and associates had acquired a large amount
$10,269,619 $10,742,731
— $473,112
revenue. ............ ......
of the company’s securities. Including, It was reported, $2,600,000 gen. and Operating
. 3,060,971 3,029,352
Operating
income
(after
taxes)
+ 31,619
ref. 4 J^s, $374,000 notes and some car trust obligations. V. 89, p. 1068, Net (including other Income).
. 3,646,574 4,018,851
— 372,277
1141.
. 2,951,403 2,882,624
and rentals_________
+ 68,779
It Is reported that the Interests controlling the Ches. A Ohio will acquire Interest
.
529,842
529,842
Dlv. on pref. stock, 6 % --------the road after foreclosure.
.(2)144,356 (10)721,780
DIv. on common stock_______
— 577,424
In Dec. 1908 filed agreement covering purchase of 460 cars for $372,076.
Protective Committees.— A committee IN. W. Jordan, Chairman; A. C
Balance for year.
sur20,973 def$l 15,394
+ 136,367
Raymond, 67 Milk St. Boston, Sec.; American Trust Co., Boston, deposi­
tary) , received deposits of gen. and ref. 4 J^s and In July 1909 advised ac­
OFFICERS.— Chairman Ex. Com. and Board, B. F. Yoakum, N. Y .;
ceptance of an oiler of 50 for the bonds. V. 86, p. 856; V. 89, p. 224.
Pres., B. L. W Inchell, Chicago; V .-P ., C. W. Hillard, N. Y .; Sec., J. S.
Another committee (Seth M. Carter, Chairman; Charles H. Gilman, 82 Ford, Chicago: Treas., J. P. Reeves, Chicago. N. Y. office, 71 B’ way.—
Exchange Street, Portland, Me., Sec.; Old Colony Trust Co., Boston, de­ (V. 88, p. 374, 451, 1127; V. 89, p. 1218.)
positary) received deposits of Chic. & Cine. 1st 5s, Cine. R. A M. 1st 5s
CHICAGO & ERIE RR.— (See Map Erie RR.)— Owns from Marlon, O.,
and Cln. & Ind. W. 1st 5s. In July 1909 over three-fourths of each of the
three Issues had been deposited and an arrangement that will benefit the to Hammond , Ind., 249 miles, and leases trackage over Chicago A West Ind.
bondholders had been made with H. B. Hollins & Co., New York. V. 87, to Chicago, 20 miles. Erie R R . Co. owns entire $100,000 stock.
p. 1237; V. 88. p. 451; V. 89, p. 40.
BONDS.— The first mortgage (trustees Central Tmst Co and Edward
STOCK AND BONDS.— Stock outstanding, $4,206,000; par, $100.
Daniels) covers 249 miles of road, the contract with the Chicago A Western
The Cine. Richmond A Muncle 1st 5s, Chicago A Cincinnati arm Cine. A Indiana. $1,000,000 of that company’s stock and $240,000 stock of Chicago
Ind. West Issues are all subject to call at 110 after 10 years from their Belt Ry. See abstracts, V 51. p. 911; V 61. p 750.
Issue, the Cln. Rich. & Muncle after Oct. 1910
See official statement. V.
EARNINGS.— 5 mos., 11909...............Gross, $2,113,849; net, $425,062
71. p. 1066; V. 74. p. 1195. Of the gen. and ref. 4H » <>f 1903, American
July 1 to Nov. 30.
(1908........... ..Gross, 1,792,628; not, 259,043
Loan A Trust Co. of Boston and Union Trust Co. of Indianapolis are trus­
For year ending June 30 1909, gross, $4,289,969; net, $633,558; other in­
tees. V. 77, p. 349, 1532; V. 80, p. 649. There are also $75,000 Ham­
come, $94,299; Int., taxes, Ac., $1,160,017; Improvements, $14,194; bal.,
mond Belt Ry. bonds.
EARNINGS.— 5 mos., J1908-9
j ___ Gross, $696,047; net, $101,658 def., $456,354.
July 1 to Nov. 30.
1 1907-8...............Gross, $567,496; op. def., 22,003
CHICAGO GREAT WESTERN RAILROAD.— ROAD.— Forms the
Year end. June 30 1909, gross, $1,359,104; def. under op. exp., $23,005. “ Maple Leaf” route, radiating from Oelweln, la., northerly to St. Paul,
Office, Chicago, 111.— (V. 89, p. 224, 1068, 1141, 1279, 1482.)
easterly to Chicago and southerly and westerly to Kansas City and Omaha:




Jan . 1910. J
[7<’o r

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
abbreviations, & c., see notes on first page]

Chicago & Eastern Illinois— (Concluded) —
Car trusts including lntJan’ 10, due 510.921 m’ thl'
Equipment bonds Series B due quarterly_______ '
do
do
Series C & D due 568,000 sem-ai
do Series E due 5125,000 s-a (V 81 p 1043) ,Bi
do Series F due 5220.000 s-a (V 82 p 750) -B j
do Series G due $124,OOu s-a ( Y 86 i> 1 2 8 1 ) li;
Chicago & Erie— 1st M g lnt guar till prln paid -. Ce.c

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

1903
$425,742
To April 5 m i a
223,250
1903
1,000
5
3— M To June 1910
1,000
1905
680,000
4H J A J To Jan 1 1915
1905
1,000
1,125,000
4H g F A A Aug ’ 10-Aug ’ 15
do
do
1906
1,000
2,200,000
4 h e F A A Aug ’ 10-Feb ’ 16
do
do
1,000
11)07
1,984,000
A ( ) Apr 10 ()■■(, ’ 17 Hankers’ Trust Co N 3'
5g
249 1890
1,000 12,000,000
5 g M A N May 1 1982
Erie Railroad New York
249 1890 1,000 Ac 10,000,000 Mostly o wned by Oct 1 1982
Erie Railroad
... 1888
300,000
5 g J A J July 1918
Erie Railroad New York

_
_
—
—
_

Terminal tlrst mortgage rold.
Chicago & Grand Trunk— ee Grand Trunk West Ry
Chicago Great W e ste rn Common stock, 546,000,000.....................
100 45,245,613
Pref (also as to ass.) 4% , cum red 550,ddd,000'auti
100 41,021,402
t Irst mortgage, gold, 575,000,000...............S.xc* Ar*
755 1909 $, £ A fr. 18,500,000
M
4g
RR
Chicago & Great Western— See Chicago Terminal Tn
Clucago Hammond & Western—See Indiana Harbor Belt R R
Chjcago & III Mid— 1st M 55,000,000 g red text.IC .c'
26 1906
1,000
780,000
F
5g
Chicago & III W— Gen (new 1st) M g g , red par. AC.xc'
1,000
... 1907
815,000
6g J
Chicago & Indiana Coal—See Chicago A Eastern 111
Chic Ind & So—Ind 111 & la 1st M 512,000,000 g-IC .c'
203 1900
1,000 4,850,000
4g J
Consol mtge 520,000,000 gold gu p A l__(f.xc*Ai
329 1906 1,000 Ac 15.150,000
4g J
Chicago Indianapolis & Louisville—Common sto ck ...
100 10,500,000 3H In’09 J
Preferred 4% non-cumulatlve 55,000,000_________
_ __
100 5,000,000 4 In 1909 J
L N A & C 1st Main Line—N A to Michigan C lty.c’
1,000 3,000,000
289 1880
6
J
First M Chic A Ind DIv Chicago to Ind gold
c"
1,000
162 1881
2,300.000
F
6g
O I & L refunding mortgage 510,300,000 gold___ Cc
1,000
509 1897
5,000,000
5g J
do
do
gold 6s Issued for old consols___
509 1897
1,000 4,700,000
6g J
Con Stone Co 1st M gold guar p & 1 callable______
_ 1900
1,000
13,000
M
6g
Indiana Stone RR first mortgage guaranteed
_ __
1,000 In treasury
5g
M
Indlanap A Loulsv 1st M 56,000,000 gold gu__ S.c*
60 1906
1,000 a 1,6 50.000
4g J
Chicago Indianapolis & St Louis Short Line— See Clc veand Cincin natl Chi cago A St L ouls
Chic Jol & KC— 1st M 515,000,000 gred 105 text__ Ce
_ 1908
See text
M
5g
Chicago Junction RR -1st M 52,327,000 g red 105..c*
- - 19(15
1.000
2,25s ,000
M
4g
Chicago Lake Shore & Eastern— 1st M g. gu. red text c*
—
1909
1.000
9,000,000
4K g J
Federal equipment trusts, due 5100,000 yrly May 1
_ 1905
1,090,000
5
M
American equlpt trusts, due $60,000 yrly Nov 1
_ 1905
63 5.000
5
M
Chicago Memphis & Gulf— 1st M g red____________ N
31 1910
1,000
350,000
5g J
a Of which $125,000 In treasury June 30 1909

35

A

S Sept 1 1959

A A Feb 1 1956
A J July 1 1947
A J July
A J Jan
A n Dec
A D D c
A J July
A A Aug
A J July
A ,T July
A N May
A S Sept
& J Jan

Chase Nat Bk N Y; or Ch
Amer Trust A Sav Bk Ch

1 1950
Lincoln Nat Bank, N Y
1 1954
30 ’09 \%
30 *09 2%
1 1910
11911
1 1947
1 1947
1 1920
Amer Tr A Sav Bk Chic
1 1948
New York
1 1956

A s March 1 1938
A s Mch 11945
A D June 1 1969
A N To May 1 1920
A N To Nov 1 1922
A
Jan 1 1940

1

interest from Sept 1 1909

Bankers’ Trust Co, N Y

Lines owned (total. 755 miles). Miles
Operated under agreement. Mile*. V v 86- P -107; V. 88, p. 685. For year ending June 30 1909, $137 794­
Chicago to St. Paul____________ 40 0 Mason City A Fort Dodge.
In 19°7-08, gross, $153,165; net, $66,298; llxcd*charges;
Oclweln to St. Joseph.................2 90
387 miles, viz.:
$23,038; balance, surplus, $43,260. Pres., W . E. Phllllns
Office 184
Bee Creek to Beverly___________ 23
Oclweln, la., to Coun’l Bl’ fs. 26C La Salle St.. Chicago, 111.— (V. 88. p. 685.)
uupB- UIUCe* 184
22
Sumner to W averlv.................
Hayflelri .Mlnn .to Clarion la. 100
Mantorvllle, DeKalb and Cedar
Branches to Lehigh and Coal,
CHICAGO INDIANA & EASTERN RY.— Owns Converse, Ind., to
Falls, branches______ ______20
Muncle, 43 miles. In May 1907 the Pennsylvania Co. acquired all the se­
Trackage (total, 74 miles) —
Trackage—
curities, the road being operated as part of the Pitts, Cln. Chic. & St Louis
1 1 Council Bluffs, la., to So. OmaSt. Paul to Minneapolis____
V. 84, p. 1181, 930. For cal. year 1908, gross, $66,759; op. def., $33 5 1 6 ’•
Chicago Terminals_________
10
other Income, $103; charges, $35,514; bal., def., $68,920.— (V. 84, p. 35 0.)’
Galena Jet., 111., to Dubuque, la . 1-1 WIs.Minn. A P ac.R R.,271 miles,
Des Moines Terminals__
3
CHICAGO INDIANA & SOUTHERN RR.— (See Maps N. Y Cent A
Mankato to Red Wing, Minn.
06
Beverly to Kansas C i t y __
28
Red Wing to Osage, la ______ 118 Hud. Riv. R R .)—Owns from South Bend. Ind., to Seatonvllle III I92*m
St. Joseph, Mo., to Bee Creek__ 8
Winona to Simpson, Minn__
54 (former Ind. HI. A Iowa R R .); Danville. III., to Indiana Harbor Ind "
109 m.; branches, 11 m.; trackage. 28 m.: total. 340 m. Also owns 20 ni’
Branch to Clay Banks, Minn.
3 leased
to other companies.
A consolidation April 1906 of the Ind. 111. A Iowa, Ind. Har RR and
•Grand total______ . .
Danville & Ind. Har. R R . V. 82, p. 803. 867. Stock. $20,000 000 of
.i.T J1.9.entIrc capital stocks of the Mason City & Fort Dodge R R . Co. and
j.v‘ 7 °nnn non 0and
’0?,° Michigan
vf 1 t f° CUo
‘ pref' $3,000,000.
, Lake Shore & Mich. Southernowns
the Wisconsin Minnesota A Pactllc RR. Co. are owned and their roads oper­ $17,000,000
Central
ated under agreement. See those companies.
.
^ 4sof 1906 ($20,000,000) .guaranteed by the Lake Shore
ORGANIZATION.— Incorporated In Illinois Aug. 20 1909 as successor, &
South., $4,850,000 are reserved to retire the 4s due July 1 1950.
per plan V. 88, p. 1497, of railway of same name acquired at Judicial sale V. Mich.
oO, p.
1223.
AUroo2
by J. P. Morgan A Co., reorganization managers. V. 89,
Jointly with four other roads covenants to pay the N Y Central lines
P • o281 592,
($30,000,000) 5% equip, trust of 1907, the company’s share of eoumment
A syndicate provided the pash requirements of the plan—$24,892,274 leased
being about $4,000,000. V. 85, p. 1401; V. 86. p. 1 6 8 . ipment
(Including $9,892,274 for Improvements and equipment)—receiving therefor
EARNINGS.— 11 mos.,11909---------- Gross, $2,897,379- net $690 n-in
$18,500,000 new llrst mortgage 4% bonds, $10,136,604 pref. and $31,641,333
Jan.
1 to Nov. 30.
t l 9 0 8 . ......... Gross! 2,410,991'; net! $47<U73
common stock voting trust certs., the stock trust certs, being ollered to
holders of old pref. B and common stock on payment of assessments of 515
REPO RT.— Report for year ending Dec. 31 1908 In V. 88. n. 1369
per share, as shown below, and affording the shareholders their only oppor­ showed: Gross. $2,900,422; net, $976,592; other Income $54,809- charges
tunity to participate In the reorganization.
and taxes, $1,184,383; bal., def., $152.982.— (V, 88, p. 944, 1369, 1619.)
STOCK.— The pref. stock ($50,000,000 auth. Issue) will be entitled to
CHICAGO INDIANAPOLIS & LOUISVILLE RY.— Operates the
dlvs. at 4% per ann. to June 30 1914 and to cum. dlvs. thereafter
Monon Route” from Chicago. 111., via Monon, Ind., to Indianapolis. Ind.,
at that rate ahead of the com. stock, and also to a perference as to principal and Louisville, K y., with branches. The system Includes:
a?cru?d dlvs. In case of dissolution or liquidation. If and when per­
„ ^ es
— r.
* t
I Oper. under contract—
Miles.
mitted by law, the new company will have the right to redeem the pref .stock T
Indiana State Line to IndianIChlcago to Indiana State Line__ 20
at par and accrued dlvs. No additional mtge. shall be created nor shall the
aP°lls — . . . . . . . . —
------- 162 |New Albany to Louisville..
6
pref. stock be Increased without the consent of a majority of the pref. stock New Albany to Michigan C ity ...289 (Connection In Indianapolis
2
outstanding or voting certlilcates therefor.
Bedford to Swltz City...............
40|Clear Creek to Harrodsb’g "in d "" 9
10
flvi,^on?07t,rUS<'" 7 Ai11i st? cke,/exccpt shares to qualify directors) shall for Orleans to French Lick Springs.. 18|Swltz City to west of Linton
nvo years bo vested In .1. PIcrnont Morgan, George F. Baker and Robert
IWallace Jet. to Shirley Hill A'br.,60
fn*Kn n?«taSiVi0t i1,1’ trustees, with power to (ill vacancies and all other powers
11 thevoMng trust .agreement. Upon the written request of
Total of all June 30 1909_________________
^fili
°™a rnaJprlW of the outstanding pref. stock voting-trust certs.
A lease for 999 years with Chicago A Western Indiana" (of"whose’s~t<>ck‘ thN
®“ L oruC? ^ m o n «tock. v°tlng-trust certs, to an amount sufficient, with such company owns $1,000,000) gives entrance to Chicago on a mileage basis
^ of such pref. stock, to constitute a majority of all the stock then Owns one-third Interest In Kentucky A Indiana Bridge at Loulsvllll Kv
held by such voting trustees, the voting trust shall be terminated.
Owns entire stock of Indianapolis A Louisville R R ., projected from at’ or
near Indianapolis to Evansville. Ac.. of which 55 miles, from Wallace Jet.,
Basis of Participation and Syndicate Offer.
Ind.. to Shirley Hill, was opened Oct. 1 1907 and the branch from VlcksE xitin g Stocks
Having Received Voting Tr. Certs, of New Co.
5 m|les’ Deo- 1 1007. Under supplemental lease dated May
If Deposited
- ■• — Pref.
- - Stock----— -lorn.' Stock----Paid'
JO.1 a?7„ » onds are 8uar-« PHn. and lnt. See “ Bonds” below. V. 82. n.
Class.
per Share. %
Amount.
Amount.
%
509; V. 83. p. 888. 1290; V. 85, p. 920; V. 87, p. 809; V. 88, p. 99.
P
Debenture________
1 1 0 $30,884,798
HISTORY.— Successor July 1 1897 of Louisville New Albany & Chicago
Preferred A________________ .
____
120 $13,604,280 foreclosed
per
plan
In
V.
63,
p.
922.
Suit
settled,
V.
75,
p.
1031
Preferred B ______
15
3,457,791
60
13,831,165
#
the Louisville <5c Nashville and Southern Ry. acquired 93%
Common__________________ 15
15
0,678,813
40
17,810,108
com * &nd 77% of $5,000,000 pref. stock, on the basis of $78
The total fixed charges of the new company for rentals and Interest, In­ and $.)0 per $100
share respectively In their Joint 50-vear 4 % collateral trust
cluding Interest on bonds of subsidiary cos., after all the $28,000,000 new gold bonds at par secured by the stock acquired. See descrlDtlonofbonds
bonds aro outstanding, will approximate $2,399,280, while the net earnings. under Louisville A Nashville. V. 74. p. 1088, 1138; V 75, P 28
D° d
It Is estimated, should be at least $4,268,000.
DIVIDENDS.—On pref., 1899, 1%; Oct. 1900 to Dec 1909, both Inclu­
BONDS.— Of new llrst 4s, $18,500,000 were sold to the syndicate and the sive, 4% p,.r annum
On com . 1902, 1 ■1903 3M % - 1904 Time i v v •
remaining $9,500,000 of the $28,000,000 present issue will be sold for addi­ Dec., 1 H % : 1905 to 1908, 3% yearly; 1909, 3 tf% (J. & d .)4' J
’ 1H % '
tions and betterments, as required, say. within the next two or three years.
Of the bonds, $18,232,000 are reserved to retire the 1st mtge. bonds of the . B O ^ P S .—Refunding mortgage covers road, equipment Ac (Including
Mason City & Ft. Dodge and Wise. Minn. A Pac. ($12,000,000 and $6,232, a t B S M K r *
c f1w - I.nd.- and 5240,000 stock of the Belt Ry. of
000 respectively), and the remainder for new property, betterments and Chicago), total authorized Issue Is $15,000,000, of which unissued balance Is
reserved to take up existing divisional bonds at maturity,
equipment. V. 89, p. 1482; V. 90, p. 53.
c I1ld,nn2p.olIs„n Loulsvllle guaranteed bonds, of which $1,500,000 sold in
EARNINGS.— 3 mos.,11909..............Gross, $3,162,174; net, $1,079,859
Feb. 1906 for 60 miles of road; balance Issuable at $30,000 per mile. See
Sept. 1 to Nov. 30. 11908------------Gross, 3,060,516; net,
690,209
above. V. 82, p. 508; V. 83, p. 1290.
Surp. after cligcs., $452,344 In 3 mos. of 1909, agst. def. $190,111 In 1908.
EARNINGS.— 5 mos., 11909........ Gross, $2,603,696; net, $1,018 897
harnlriKs since Jan. 1SJ04 are based on 818 miles of road proper, only the
July 1 to Nov. 30. (1908........ Gross, 2,355,029; net,
793|224
net earnings of the proprietary lines over bond Interest being Included.
ANNUAL REPORT.— In V. 89, p. 844, showed:
REPORT.— Earns, of old co. for year end. June 30 (V.89, p.1667) were:
Year
end.
June
30—
1908-09.
1907-08.
1906-07
1905-06.
Year ending June 30—
1908-09.
1907-08.
Inc. or Dec.
earnings------------ $5,319,386
$5,167,160 $5,988,867 $5,921,002
Operating revenue------------------------- $10,715,816 $10,390,306 +$325,510 Gross
1,404,792
1,163,702
1,825,416
Net earnings..................
Net, after taxes................ ................ 1,301,510
1,664,280
1,983,063
— 362,770
Dividends,
Ac.,
received
252,301
272,423
261,166
Net Income.......................................... 1,346,423
1,673,640
249,475
— 327,217
Fixed charges...................
2,005,042
1,895,454
+ 109,588
Total net Income___ $1,657,093
$1,436,125 $2,086,582 $2,232,538
Additions and betterments________
149,823
178 844
— 29,021 Interest on bonds______
772,100
772,100
772,100
772,100
382,107
301,662
319,456
262,301
$808,441
$400,658 — $407,783 Rentals, Ac___________ _______________________
Balance, deficit..............................
OFFICERS.— Pres., S. M. Felton; V .-P., Joseph W. Blabon; Sec. and
Total . . . . . . --------- — $1,154,207
$1,073,763$1,091
556 $1 034 Q01
Treas., J. F. Coykcndall. Office, Chicago, 111.— (V. 90, p. 5 3 .)
Surplus for d ivid en d s...
$502,886
$362 362
$995 026 *1 i w ’ iS i
Dividend on pref., 4 % ..
200,000
200.000
200 000
200 000
CHICAGO & ILLINOIS A1IDLAND R Y.—Owns Auburn, 111., to Taylor
Dividend on com m on.. (3 H)328,250 (3)315,000 (3)315’,000 (3)315,000
vlUc, 26 miles, of which 17 miles was opened June 1907. Stock authorized
OFFICERS.—
Pres.,
I
.
G.
Rawn,
Chicago;
V
.
P
.
Morton
F
P la n t
$2,000,000; outstanding, $1,000,000 (par of shares $100), a majority being
owned by Illinois Midland Coal Interests. The bonds arc subject to call New York; E. C. Field, Chicago; Treas., Byron Casse l. 198 Custom Hons;
Place.
Chicago;
Gen.
Mgr.,
B.
E.
Taylor,
Chicago;
Sec
J
A
HHton
52
on terms to be llxcd for the several Issues; the $780,000 bonds issued on
the first 26 miles may be called at 110 on Aug. 1 1910 or any subsequent Broadway, N. Y. Directors— Fairfax Harrison and W, \V ’ Flnlcv Wash
Ington, D. C.; Chas. Steele, R. M. Callaway, Morton F Plant’ Hen™
Interest day. Soo V. 82, p. 452, 803. For year ending June 30 1909
Walters, New York; W. II. McDoel, I. G. Rawn! E C Field F A D e a n 7
operating revenue, $77,006; net after taxes, $6,936. (V. 82, p. 803.)
CHICAGO & ILLINOIS WESTERN R R .—To extend from Western Ave., Chicago; Samuel T. Murdock, Lafayette, Ind.— (V. 89, p. 720,’ 844.) an°*
Chicago, southwesterly to Joliet, 111., with branches, a total of 54 miles, of
CHICAGO JOLIET & KANSAS CITY RR.— See page 172.
which 22 miles In operation. Extension proposed Gary to Joliet. V. 83.
CHICAGO JUNCTION RR.— Anelevated road
3.75 miles of track
P. 491. Stock. $1,000,000, as Increased Aug. 1907; par, $100. Of the gen.
(0P$nfd
1908) .extending from Junction with South Side Elevated RR.
6s of 1907 ($4,000,000 authorized Issue), $815,000 were outstanding In at 40th April
Street to the Stock Yards. Leased to South Side Elevated for
March 1009, guaranteed prln. A lnt. by Dolese & Shepard Co., Chicago.
50 years (with right to purchase at cost within 20 years) at a rental




36

RAILROAD COMPANIES
(For abbreviations, &c., see notes on first page]
Chicago Milwaukee & Gary—1st M $20,000,000 g red
105 beg 1918....................................................-SStxo
Chicago Milwaukee & St Paul—Com stock (see text)_
Preferred stock 7% yearly not cum $124,654,400-Mlneral Point Division flrst mortgage------------ F.c*
Lacrosse A Davenport Dlv flrst mtge________ F.c*
Wise Val Dlv 1st M sink fund not drawn-.NB.c*
Dub Dlv 1st M sinking fund not drawn— NB.c*
Chic A Pac Western Dlv 1st M (see text) gold-F.c*
Chicago & Lake Superior Dlv 1st M gold------F.c*
Wise A Minn Dlv flrst mortgage gold------------------- F
Fargo & Southern flrst mortgage gold assumed-----Chic Milw & St P Terminal mortgage gold------F.c*
Dakota & Great Southern flrst mortgage gold------F
Chicago A Missouri River Dlv flrst mortgage.-F.c*
General M (for $150,000,000) gold Series A_Us.c*&r
do
do
Series A registered-----------------do
do
Series B ----------------------------c*
do
do
Series B registered-------------- Milwaukee & Northern 1st M Schwartz to Gr Bay.c*
Consolidated mortgage------- - — - - --------- - - - - c
Debentures $50,000,000 auth g o ld -.----F x c* r *
Chic Milw & Puget Sd— 1st M $200,000,000 au th -. Us
Chicago & N W —Com stock $177,604,880 auth------Tr
Preferred stock (not cumluative) see text.........- - Ir
Chic & N W con s f M ($12,900,000) not dr------F.c*
Cedar Rapids A Missouri River— 1st M 3d Dlv
Madison Exten 1st M g (s f $23,000 not drawn) -F
Menominee Ext 1st M g (s f $20,000 not drawn) _F
Northw Union 1st M gold Milw to Fond-du-Lac.F
Winona & St Peter 1st M ext g land gr s f ass.-F.c*
North 111 1st M ($20,000 per mile) assumed.-Un.c*

Miles Date
Road Bonds

1908
133
185
161
351
1,117
68

230
119
159
77
5.859
5.859
5.859
5.859
126
362
1,489
7.390
7.390
788
150
129
114
6
184
76

a Also July 1909 additional general mortgage b onds I
In sinking fund Dec. 1909: b $172,500; c $150, 500; d

A ls o

1880
1879
1880
1880
1881
1881
1881
1883
1884
1886
1886
1889
1899
1889
1899
1880
1884
1909
1909
1865
1866
1871
1871
1872
1871
1885
$135

Par
Value

Amount
Outstanding

Rate
%

When
Payable

Last Dividend
and Maturity

Dividends are Payable

•;t 1 >nls (Jn. Tr. Co.
A A O Apr 1 1948
5g
$1,000 $5,500,000
100 116.348,200 7 In 1909 M A S Sept 1 ’09, 3 h vf Y Office 42 Broadway
do
do
3
H
M
7
St
pt
1
’09,
A s
100 116,274.900
do
do
5
J A J July 1 1910
2,840,000
1,000
do
do
5
J A J July 1 1919
2,500,000
1,000
do
do
6
1,928,000
J A .1 July 1 1920
1,000
do
do
6
5,049,000
J A J July 1 1920
1,000
do
do
5 g .1 A J Jan 1 1921
1,000 25,340,000
do
do
1,360,000
5 g J A J July 1 1921
1,000
do
do
4,755,000
5 g J A J July 1 1921
1,000
do
do
Jan
1
1924
A
J
.1
1,250,000
6
g
1,000
do
do
5 g J A J July 1 1914
1,000 4,748,000
do
do
2,856,000
5 g J A J Jan 1 1916
1,000
do
do
5
J A J July 1 1926
3,083,000
1,000
' do
do
1,0001 a48.841.000 / 4 g .J A J May 1 1989
do
do
May 1 1989
\ 4g
1,000/
Q—J
do
do
1,0001 a8,950,000 / 3)4 g J A J May 1 1989
do
do
May 1 1989
1,000/
1
g y —J
do
do
A D June 1 1910
6
2,155,000
j
1,000
do
do
6
A D June 1 1913
j
1.000 n4,003,000
do
do
A J J ly 1 1934
4g j
l.OOO&c 2 .000.000
Jan
1
1949
4
100,000,000
X
100 See text 7 In 1909 j A J Jan 3 1910 3H Co’s office 111 B’ way NY
do
do
100 22,395.000 8 In 1909 c —J Jau 3 1910
do
do
Feb 1 1915
7
1,000 12,832,000
CJ — 1do
do
\t A N May 1 1916
7
2,332,000
500 Ac
do
do
Apr
1
1911
A
O
A
b2,977,500
7
g
500 Ac
do
do
7 g J A I) June 1 1911
500 Ac c2,546,500
do
do
M A s June 1 1917
7g
500 Ac d3,365,000
do
do
Dec
1
1916
A
I)
k4,038,500
J
7g
100 Ac
do
do
M A s Mch 11910
5
1,500,000
1,000
n $1,08 9,000 additional In treasury.
sury and not listed (s ee text).
,0 0 0 . x c oupon bond s J AJ; r eglstered w— j •

covering bond Interest and all expenses. Capital stock, $50,000. Bonds
are guaranteed, prln. A int., by Chicago Junction Hallways A Union
Stock Yards Co.; they are subject to call at 105 after 1910. Form of guar­
anty. V. 82. p. 568.— (V. 85, p. 792; V. 87, p. 346.)
CHICAGO JUNCTION RAILW AY.— Owns Inner line within the Chicago
Union Stock Yards district, 11.81 miles, side and Industrial tracks, 118.58m.
In June 1907 the Vanderbilt (New York Central) Interests arranged to
acquire the outer belt line, assuming the $2,500,000 outstanding bonds,
leaving property free of liens. V. 85, p. 159. 792.
CHICAGO KALAMAZOO & S A G I N A W R Y . — Owns 55 m.. Pavilion to
Woodbury, Mich. Acquired In Dec. 1906 by Mich. Cent. ( N e w York Cen
tral system), but will be operated Independently. V. 84. p. 50. htock,
com .. $2,000,000: pref., $450,000: outstandi ng, $450,000 each,. par ol
shares, $100. Loans and bills payable Dec. 31
.1 I™ 1™?*
gross, $169,742: net, $58,582: Interest and taxes, $33,575. bal.. sur., $25,007.
Pres., H. B. Lcdyard, Detroit: See., F. O. Waldo, Treas., J. E. Griffiths.
— (V. 61, p. 1063: V. 84, p. 50.)
CHICAGO I AKE SHORE & EASTERN RY.— Embraces 326 miles
of track connecting thovarlous works of the Illinois Steel Co at Chicago.
Joliet and Milwaukee with diverging trunk lines, and also with steamship
lines, stone quarr.les. industrial establishments. Ac.; also, by lease and
traokage rights over 328 miles of roads, reaches the coal fields of Illinois
and Indiana, and Joliet, 111., handling between South Chicago and these
points a large traffic for the Illinois Steel Co. Stock, $9,000,000, being in­
creased from $2,760,000 In June 1909; all owno 1 by the Illinois Steel Co.
and so by the United States Steel Corporation, which, with the Elgin Joliet
& Eastern, guarantees the bonds, principal and Interest by endorsement.
The last named leases the road for 60 years from June 1 1909, rental covering
all charges and dividends on stock dependent on earnings. See V .90.p .108.
Bonds are redeemable in whole or part after June 1 1919 at 110 and lnt.;
they are limited to $20,000,000, and 50% of costofiproperty. V. 88. p. 1372;
V. 89, p. 224, 1410.— (V. 90, p. 108.)
CHICAGO MEMPHIS & GULF RR.— Dyersburg. Tenn.. to Tlptonvllle,
31 miles. An extension from Tlptonville to Hickman, 21 miles, will be
completed early In 1910. In Oct. 1909 acquired by new parties and name
changed Nov. 1 from Dyersburg Northern R R . V. 89, p. 993, 1280.
Stock auth., $1,000,000; par. $100. Bonds^ ($1,000,000 auth. issue) are
subject to call at 105 after Jan. 1 1912; Issued $350,000 to rethe the $2u0,0 )0
old bonds and all other debt. V. 90. p. 108. For 4 mos. ending^Oct 31
1909, gross, $35,621; net. $15,114. For year ending June 30 1909, gross,
$68,113, agstl $57,693 In 1907-08; net, $28,576, agst. $24,813; Int. and taxes,
$18,784; bal., sur., $9,792. Pres., S. G. Latta; V.-P , John H. Watkins,
2 Wall St., N. Y.; Sec. and Treas., J. C. Doyer.— (V. 90, p. 108 )
CHICAGO MILWAUKEE & GARY RAILVVAY.— This road, when
completed, will form an outer belt line 267 miles In length, extend ng from
Milwaukee. Wls., to Gary, Ind., connecting with all of the 32 main trunk
lines entering Chicago
Of this, Rockford 111. to Moraence, 125 miles
Including Elgin Joliet & Eastern trackage between Aurora and Joliet, 24
miles, was In o p e r a t i o n In April 1908. An extension is to be built at once
from Momence to Gary, 42 miles. A lino Is also to be constructed from
Rockford through Beloit and Janesville to Milwaukee, 100 miles. In March
1909 Interests represented by the St. Louis Union Trust Co. acquired control
or practical control. V. 88, p. 685.
Stock authorized. $10,000,000; outstanding, $ 5 ,5 0 0 ,0 0 0 ; par, $100.
BONDS.— On April 1 1908 a mortgage was executed to the St. Louis
Union Trust Co. and Illinois State Trust Co of St. Louis as trustees to
secure an Issue of $20,000,000 of 40-year 5% bonds, of which $5,5 0 0 ,0 0 0
have been Issued to acquire the property of the Illinois Iowa A Minnesota
and subsidiary companies, the remaining $14,500,000 bonds being reserved
for extensions to Gary and Milwaukee, equipment, terminals, elevators,
coal docks and facilities at Gary and Milwaukee, of which about $10,000,000
to be used at present to complete the line. V. 86, p. 980: V. 88, p. 68o.
Pres., Albert T. Perkins, care St. Louis Union Trust Co., St. Louis.— (V.
88, p. 685.)
CHICAGO MILWAUKEE & ST. PAUL R Y .—Operates front Chicago
westerly to-St. Paul, Minneapolis and Lake Superior, Omaha, Neb. and
Kansas CItv, Mo., with lines traversing Illinois. Town Missouri Michigan
WIs. Minn, and the Dakotas, viz.: (Map C. M. & Puget Sound Ry. p. 37):
Road—
Miles. I Road ,
AJ«es.
Lines owned June 30 1909 (of
Second and third tracks - - - - - - - 5 0 0
which 30 miles owned Jointly) .7,296 ITrackage (Including 2d traoks)--279
HISTORY, Ac.— Org. May 5 1863 and on Feb. 11 1874 took present name
The Pacific extension, from western terminus at Glenham, S. D., to
Seattle and Tacoma, 1,489 miles (of which 26 miles Is owned Jointly
with Union Pacific), Including 66-miles Lewiston branch, known under
name of Chicago Milwaukee & Puget Sound Ry. (see statement below),
was completed In June 1909; 419 miles of branches are contemplated. V.
87, p. 543; V. 88, p. 99, 294, 748, 882, 944, 1252.
Tacoma & Eastern R R ., Tacoma, Wash., to Grenavon, 63 m., with
branches, 28 m ., total 91 miles, was acquired In 1909.
CAPITAL STOCK.— The pref. stock has a prior right over the com. stock
to a dividend of not over 7% from net earnings in each year, but If not
earned it has no cumulative right. After payment of 7% on pref. and 7%
on com., both classes share pro rata.
In Aug. 1906 stockholders were offered the right to subscribe to $25,000,­
000 com. stock at par. In Dec. 1906 stockholders subscribed pro rata for
$66,214,400 pref. and $33,241,100 com. stock at par, payable In Install­
ments to March 1 1909. The proceeds will provide for the cost of the
Pacific Coast extension, of which tbe total cost to Jan. 1909 was $82,000,000,
419 miles of branches estimated to cost $10,465,000, and part payment for
rolling stock. This Increased the amounts outstanding to $116,274,900
pref. and $116,348,200 com. stock. V. 83, p. 1523; V. 84, p. 50, 101;
V. 85. p. 98. 1338; V. 88, p. 293.
DIVIDENDS since '911 ’ 92. ’ 93. ’ 94. '95. ’96. ’ 97-’ 00. *01. ’02 to ’08. ’09.
On common. - - % ) 2
4
4
2
4 5 y’ ly. 6
7 y ’ly.
7
On preferred, .-% J 7
7
7
7
7 7 y’ly. 7
7 y ’ly.
7




[V O L . L X X X X .

RAILWAY STOCKS AND BONDS.

BONDS.— Abstracts older mtges., V. 45, p. 85, 114, 144, 21.". and V. 48,
P*The general mortgage ol 1889 (see abstract In V. 48 p. 830) s for $150,­
000.000 to the United States Trust Co. of New York, a- irustee, and covers
the entire railway property and franchises of the co' 'any (therein de­
scribed) subject to prior Hens which arc paid as they mature.
In July 1909 gen. mtge. bonds were Issued or reserved as follows:
Amount In the hands of the public__________________________ $32,791,000
In treasury of the company (unsold)________________________ 30,629,000
Total reported by the company as outstanding--------------------$63,420,000
Reserved for prior Hens______________________________________ 81,454,000
Remai tier__________________________________________________ 5,126,000
Total authorized__________________________________________ $150,000,000
In Dec. 1909 $25,165,000 gen. mtge. 4s were sold, chiefly to pay oft $12,
357,000 old bonds and for new lines, second main track and additional
equipment. V. 89, p. 1279, 1541, 1506, 1667.
In May 1909 the Chicago Milwaukee & Puget bound Ry. filed a mortgage
to the United States Trust Co. of New York as trustee to secure an authorized
Issueof $100,000,000 of 30-year 4% bonds, dated Jan. 1 1909. V.88,p.l252.
In 1909 $28,000,000 of an authorized Issue of $50,000,000 4% 20year debentures were sold, the proceeds to be used chiefly to construct
branches and feeders to the Pacific extension. The debentures are to be
Included In any new mtge. V. 88, p. 1559: V. 89, p. 1223, 1346.
GENERAL FINANCES, &c.— Capitalization per mile of road June 30
1909: stock (exclusive of the $99,492,800 Issued to acquire securities of
the Chic. Milw. A Puget Sound R y.), $18,208; bonds, $15,866. V. 80, p.
1338. As to Pacific extension, see ’ ’ History’ ’ above.
In 1909 the Union Pacific system (Oregon Short Line) owned $1,84 j ,000
P The refunding at 4% of the $22,097,000 5, 6 and 7% bonds maturing In
1910 c fleets an annual saving of $460,440. V. 89, p. 1279.
EARNINGS.— 5 mos., (1909______Gross, $29,567,441: net, $10,394,947
July 1 to Nov 30.
( 1908...........Gross, 27,573,907; net. 10,648.903
For 2 mos. ending Aug. 31 1909, net, $3,329,782, agst. $3,825,688 In
1908; taxes, $413,254; other Income, $404,060; lnt., hire equip., Ac.,
$1,590,825; bal., sur., $1,729,763. V. 89, p. 1346.
ANNUAL REPORT.— Fiscal year ends June 30. Annual meeting Is held
In Sept. Report for 1908-09 In V. 89, p. 590; owing to changes In classifi­
cation, comparisons with previous years are Inaccurate: editorial, p. 628.
1908-09.
1907-08.
1906-07.
Average miles operated June 30------7,512
Passenger earnin gs_________________$12,774,852 $ll,883,39o $12,102,19b
Freight earningsfll I1 II1 .................... 42,341,651 40,426,880 44,115,059
Mall, express, Ac., earnings------------- 4,780,960
4,622,346 4,331,299
Total earnings
$59,897,463 $56,932,621 $60,548,554
lalntenance of
of way—
w ay!...............................$7,288,603
$6,451,588 $5,830,868
Maintenance
----- ,-------7,079,774
8,589,757
Maintenance of cars and engines------ 7,270,774
Transportation and traffic-------------- 23,098,477 22,628,232 22,782,468
2,304,963
2,286,097
T a x e s .................................................... 2,428,670
Renewal account___________________
______
946,868
Additions to property.........................
- - - z -1,250,349
1,004,120
Miscellaneous_____________________
1 ,U73,38 o _______________________
Total expenses
,.nr.?lnPs
...................

...........

$41,159,914 $39,468,331 $41,686,507
$18,737,540 $17,464,290 $18,862,048
2 ,717.055
1 ,052,662
1 .058,730

Total net income.................................$21,454,604 $18,516,952 $19,930,784
Net rentals, A c .-------------------------- „
5
916*760
5,942,140
Interest on debt...........- ...................... 5,800,717 5,016,700
498,831
New equipm ent-............- - - - .............. 5
Hire of equipment, rentals, A c ,------- 2 , i80,b»z
--------.1,
$13,112,205 $12,577,283 $13,489,813
Balance for dividends
$5,817,497 $5,810,598
Dividend on common,’ 7 % ------- 11111*56,980,820
*5,818,795
3,495,373
3,485,503
Dividend on preferred
Balance, surplus.................................” $312,590 $3,204,413 $4,193,712
* Tnrlnrlp<i
% soml-annual dividends paid Sept. 1909 on $99,492,800
stock Issued to acquire securities of Chic. Milw. & Puget Sound liy ., whose
main line was opened July 1909.
OFFICERS.—Chairman, Roswell Miller, 42 Broadway, New York;
Pres., Albert J. Earllng, Chicago; Treas., F. G. Ranney, Chicago; Gen.
Mgr.. VV. J. Underwood: Sec., E. VV. Adams, Milwaukee, VV1 .
Directors—Roswell Miller New York; A. J. Earllng. Chicago; Frederick
Lavton L J. Pettit*’. Milwaukee; J. Ogden Armour, Chicago; Frank S. Bond,
William Rockefeller, Daniel G. Geddes, John A
York"
feller, Walter P. Bliss, Charles W. Harkncss, John D. Ryan. New York.
N. Y . office. 42 B’way.— (V. 89, p. 1667; V. 89, p. 108.)
r m r a n o M il W AIIKPP & PUGET SOUND RY.— (Sue A/ap.)— This
road forms the Pacific extension of the ch l ^ f ° f t f i 909° &E^tends trom
P°ontPisetSd Dt h toUIeatt?e and Tacoma. ° ? 1 8 9 l l l e s J n S n g oVf-mlleLcwi™
ton branch of which 26 miles from main lino to Tacoma Is owned Jointly
with Union Pacific
In Aug. 1909 520 miles of branches were under con­
struction
V 89 p 590
The company has authorized its 1st mtge. 4%
dated fan 1 1009 U S. Trust Co., trustee, for $200,000,000. Of
these bonds, $100,000,000, together with like amount of stock, has been
turned over to the C. M. A St. P. Ry. treasury for the $100,000,000 ad­
vanced for construction. Bonds covcr toad, terminals anil equipment,
anti run to maturity. Pres., H. R. Williams, Seattle, Wash.
EARNINGS.— 4 mos., 11909______Gross, $3,548,757, net, $2,130,012
Aug 1 to Nov. 30.
11908...........Gross,
------- ; net......................
— (V. 89, p. 1482.)

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CHICAGO, MILWAUKEE &
PUGET SOUND RAILW AY
CHICAGO, MILWAUKEE
& ST. PAUL RAILW AY

?OCKW
ELLCi

A \ y poCo'
V x
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Tr

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R aw lins

CmILL'COT«L
MAP OF THE
E c lio

r

Chicago, Milwaukee
& SL Paul Railway.

38

RAILWAY STOCKS AND BONDS.

RAILROA D COMP. I XIES
[For abbreviations, &c., see notes on first page]
Chicago & North Western— (Continued) —
Mliw Lake Shore & VV cons jvI (now 1st) gold.-C e.c
Michigan DIv 1st M (for $3,000,000) gold__ Ce.c
Ashland Division first mortgage gold______Ce.c
Ext & Imp M for $5,000,000 g 8 f not drawn.Ce.c*
Income bonds (not cumulative) no coupons
r
Marsh Ext 1st M $600,000 ($15,000 p m )..U n .c»
O & N W s f bonds of ’70 ($15,000 p m)red at 105F.cr
Sinking fund debentures 1933_________ Un.c*&r
Chicago & North Western 30-year deben.U n.c’ &r
Extension 4s $20,000,000 ($20,000 p m )_.Un.c&r
General gold bond mtge $165,000,000-.-Us.c*&r
..
do
do
do
registered..
Manlt’c Gr Bay & NW 1st g gu M(V88,p230)F.c*&r
Mllw & State line 1st M g gu(V88,p230)..F.o*& r
Branch Line Bonds Assumed
Boyer Valley Ry 1st M g $16,000 per mlle_F.c»&r
Minn & la Ry 1st M gold $16,000 per mlle._F.c*&r
Mankato & New Ulm 1st M gold $416,000..F.c*&r
Southern Iowa first mtge s i , 120,000 gold..F.c*& r
Princeton & Northw 1st M $2,100,000 gold-.F .c& r
Peoria & Northwest 1st M $2,125,000 gold-.F.c& r
Sioux City & Pacific 1st M gold $4,000,000.-F.c&r
Minn & So Dak 1st M gold $528,000________ F.c*
Iowa Minnesota & Northwestern 1st M gold F.c*&r
Frem Elk & M V cons M $25,000 per mile assumed
Chicago Peoria & St L— Pr lien M g call at 107 M .Ta.c*
Consol mtge $2,000,000 gold call at 105_____Ta c*
Income mtee gold (text) non-cum call at par__ __
New Securities to be Issued under Reorganization Plan
Stock, $4,000,000 _____________________ _______
Gen and refunding M $15,000,000 gold red text
Chic R I & Pnr RR -C oll tr M $75,000,ou(). .Ce c*&l
Bonds $7,500,000.......................... ..............................
Chicago Rock Isl & Pacific Ry— Stock ($75,000,000).
First M Chic, 111.,to Council BlulTs& branches Us.e*
In addition sinking fund July 1000 held: g $181,00
o $74,000; p all In s. f.

Miles D ale
Road Bonds

Par
Value

Rate
%

1881
$5,000,000
1884
1,281,000
1885
1,000,000
1880
4,148,000
1881
500,000
*40 1892
400,000
1,041 1879
11,779,000 5
1891
9,695,000
1801
g9.819.000
1886
hl6,619,000
1807 1000 &c\ m30271,000 1
1807 1000 &cj
l
3,750,000
114 1906
50J 1006
2,500,000
413
82
40
603

00
110
26
56
105
85
125
33
195
,170
235
235
235

1808
1,440,000
1899
1,904,000
1899
p416,000
1,000
1000
NoneDec’09
1901
n l,940,000
1001 1.000 &c
2,125,000
1001 1.000 &c o3,926,000
1900
1,000
528,000
1000 1.000 &c 3,900.000
1883
1,000
7,725.000
1000
1.000
1 .950,000
1900
1 ,0 0 0
2,000,000
1900
1, 00 0
2,000,000 Up

When
Payable

Total operating revenues............ ..$65,978,471 $63,219,344 $68,359,365
Total net Income.................... ..............$22,610,755 $21,855,485 $24,013,071
Rents—debits____________
*
-- - - --------Interest on bonds, & c........ ..................
Sinking funds and other payments__
Dividends on common stock, 7%
Dividends on preferred stock, 8 % __
Balance, surplus.............................. $5,170,790 $4,874,419 $7,830,388
OFFICERS.— Pres., Marvin Hughltt, Chicago; V .-P ., E. E. Osborn. I l l
B ’way, N. Y.; Trcas., R. H. Williams, N. Y.; Sec., John Davis Caldwell.
Directors— W. K. Vanderbilt, F. W. Vanderbilt. If. MoK. Twomblv
Chauncey M. Depew, James Stillman, James C. Fargo, Frank Work, N. V

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

6g
6g
6g
5g
6
5
&6
5
5
4
3M
3M
3M
3M

M & N Alay
J & J July
M & S Mch
F & A Feb
,M & N ’May
A & () Oct
A & O Oct
x\l & N May
A 15 & O Apr
F 15 & A Aug
g M & N Nov
g 3 — r Nov
g J & J Jan
g J & J Jan

3M
3M
3M
3M
3M
3M
3M
3M
3M
6
4M
5g
to

gJ
gJ
gA
gM
gJ
g M
g F
gJ
gJ
A
g x\l
J
5 %

4,000,000
2,000,000 Sec text
i no 2 I .000 &c 70.618,000
g
1909
See text
5
100 74.85.1 eOO 5 M In '09
764 1877 1 0 00 &c 12.500 000
r>
h $ 1.143, . 00; k $2 02.500 m $1,045,0

CHICAGO & NORTH WESTERN R Y.— [See M ap.)— Operates an Im
portant system of roads uniting Chicago, III., with Omaha, Neb.. St. Paul
Minn., with the great wheat belts of Dakota, Nebraska, &c., and with the
mining regions of Michigan and the Black Hills, including—
Road owned in fee—
Miles
Miles
Main lines, &c________________ 7,515 De Pue Land & East, (leased) . .
?
Entire stock owned—
Sundry trackage.........................
42
Princeton & Western_________
16
Wolf River Valley.......................
2
Total July 1 1000...................7,638
St. Paul Eastern Grand Trunk
Second track__ _ . . . ___ _
819
(leased)...................................
60 Has large Interest In Chic. St.
Paul Minn. & Omaha_______ 1,730
HISTORY, ETC.— A Vanderbilt line (V. 75, p. 1086) organized In 1859.
In July 1884 the capital stock of the Fremont Elkhorn & Missouri Valley
was acquired, and In Feb. 1003 the road was absorbed. Its securities, ex
cept those held by Chic. & N. VV., are In table above. V. 75. p. 514, 516
In 1000-09 various nronrletarv roads were purchased. V 71, p 291. 204:
V. 73, p. 294, 1010: V. 75, p. 446: V. 81, p. 840: V. 89, p. 671. The stock­
holders In Oct. 1909 authorized the construction of new lines and branches
In So. Dak., Iowa, Illinois and Wisconsin aggregating about 465 miles. To
build a part of these extensions, the James River Valley & Northwestern
R y. was Incorporated In July 1909 to build branches from Blunt to Gettys­
burg and from Oneida to Hitchcock, So. Dak., 180 miles, and the Milwau­
kee Sparta & Northwestern R y. 162 miles In Milwaukee, Waukesha and
Dodge counties, WIs. V. 89, p. 1410.
CAPITAL STOCK.—Of the com. stock. $2,340,397, and of the pref. $3 835 remained In company’s treasury In Dec. 1909.
Pref. stork has prloi
r'ght to 7% : then com. 7% ; then pref. 3% : then com. 3% : then l ot) classes
share. In 1903 the authorized com. stock was Increased from $41,448,366
to $77,601,045 and In Oct. 1906 to $177,604,800 (making the entire stock
S200.000.000). Stockholders In Feb. 1907 subscribed for $24,401,600 com
stock at par. V. 84, p. 157.
Stockholders of record Jan. 10 1909 were offered the right to subscribe
pro rata for $30,502,800 additional common stock at par, payable Feb. 14
1909, raising the amount outstanding to $130,121 ,700. V. 89, p. 1482.
June 30 1909 U. P. system (Ore. Short Line) owned $3,215,000 stock.
The consolidated sinking fund bonds of 1915 have voting power.
DIV.— 1*86 to *93. ’94 ’ 95. ‘96 t o ’99. ’00. ’01. ’ 02 t o '09.
1910
C o m . . ) 6 yearly. 3
4
5 yearly.
6 6
7 yearly. Jan., 3M
Pref -_J--------------------- 7 yearly------------------------------------- 8 yearly-------BONDS.— General Mortgage.— See Abstract In V. 65, p. 1175. The
authorized Issue Is $165,000,000 (U. S. Trust Co., trustee); $131,645,000
were reserved to retire underlying bonds, and remainder for additions and
Improvements. $4,000,000 at once and $1,000,000 a year thereafter. V. 65,
p. 1070; V. 65, p. 69. I l l , 571; V. 75 p. 980: V. 88, p. 280, 563.
The sinking fund bonds of 1879 are secured by deposit In trust of $15,000 .noo of 1st M. bonds at $15,000 per mile on subsidiary lines, the most Import­
ant being described In “ Supplement” of May 1894. Of the sinking fund
bonds of 1879 $5,431 000 are 6s; the sinking fund Is at least 1 % of out­
standing bonds, which are subject to call at 105, and through its operation
those outstanding have been reduced from $15,000,000 to the amount In table.
i lie extension oonds of 1886 ate secured by deposit In trust of first moitgage bonds at a rate not exceeding $20,000 per mile. Included In thecollat
eral July 1 1909 were $10,675,000 Fremont Elkhorn & Mo. Valley lstsand
$2,560,000 Wyoming Central lsts (consolidated with F. E. & M. V .). &c.
The Fremont Elkhorn & Missouri Valley consols have a first lien on 1,170
miles (Fremont, Neb., to Deadwotd, D. T , 557 miles, and branches to
Hastings. Albion, &c., 613 miles), tut besides the amount of Issue given as
outstanding In the table, $10,675,00 > (along with $2,560,000 Wyoming
Central firsts, A. F. E & M. V Issue) are held as part collateral for Chicago
& No-th WPStC-" ftO n.I. n h-iH*
issu
GENERAL FINANCES.— Stockholders In Feb. 1907 subscribed for
$2 1,401,600 com. stock at par, and in Jan. 1909 were offered the right to
subscribe for $30,503,000 additional stock, the proceeds to be used for Im­
provements, extensions, equipment, &c. V. 82, p. 452; V. 83, p. 379, 8 1 7 ,
1098; V. 89, p. 1482. New terminals In Chicago to cost $20,000,000 are to
be completed Jan. 1910. V. 87, p. 479, 881, 1159; V. 89, p. 670. In Jan.
1909 sold $16,250,000 3 Ms, Incl. $10,000,000 generals. V. 88, p.230, 563.
EARNINGS.— 5 mos., (1909...........Gross, $33,824,726; net, $11,579,443
July 1 to Nov. 30.
11908______ Gross, 30,098,782; net, 11,882,776
For 5 mos. ending Nov. 30 1909, net, $11,579,443, agst. $11,882,776 In
1908; taxes, $1,140,000; oth. Inc., $967,024; lnt.. rentals, &c., $3,817,213;
divs. at the rate of 7% on the com. and 8% on the pref. call for $2,905,472
and $746,500 respectively for the 5 mos., leaving bal., sur., of $3,937,282.
V. 90, p. 166.
REPORT.— The annual meeting Is held the third Thursday In October.
Report for 1908-09 at length In V. 89, p. 663, 669; editorial, p. 693. Com­
parisons In part are Inaccurate, but gene ral results are unchanged.
Operating Revenues—
1908-09.
1907-08.
1906-07.
Avorage miles operated.......................
7,635
7,631
7,551
Freight revenue.......................
$43,619,091 $41,949,630 *$46,795,944
Passenger revenue________
16,875,668 15,734,607 15,992,110
5,483,712
Mall, express, &c__________________
5,535,107
5,571,312




Amount
Outstanding

[VOL. L X X X X .

1 1921
1 1924
1 1925
1 1929
1 1911
1 1922
1 1929
1 1933
15 1921
15 1926
11987
1 1987
1 1941
1 1941

Co’s offico.lllB w ay.N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

do
do

& D Deo 1 1923
& I) June 1 1924
& () Oct 1 1929
& S Sept 1 1925
& J Jan 1 1926
& S .Mch 1 1926
& A Aug 1 1936
& J Jan 1 1935
& J Jan 1 1935
& O Oct 1 1933
& s Mch 1 1930
& J July 1 1930
when July 1 1930

do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Liberty Nat Bank
July '08 coup last paid
earned

Semi-an 30 years
xVl & N Nov 1 2002
Sept 1 1913
Quar. Jan 3 'In, l %
.T & J July t M)i7
00 (also $1 1 ,826,000 o

lnt from Dec 1 1909
First National Bank N Y
Office 115 B’way N )
First National Hank N Y
n hand) ; n $160,000;

Marvin Hughltt. Byron L. Smith, Cyrus H. McCormick, Chauncey Keep,
Homer A. Miller. John V. Farwell, Chicago; H. C. Frick, Pittsburgh, Pa.;
David P. Kimball. Oliver Ames, Boston; Zenas Crane, Dalton, Mass.—
V. 88, p. 1252; V. 89, p. 663, 669, 992, 1068. 1410, 1482; V. 90, p. 166.)
CHICAGO PEORIA & S I. LOUIS RY.— ROAD.— Owns from Pekin to
Granite City, 111., 180 miles; Granite City to Madison. 2 miles; Madison to
Bridge Jet , 3 n i.; Havana to Jacksonville. III., 42 m .; branch, Lockhaven
to Grafton, 8 m ; total owned, 235 m.; trackage. Pekin to Peoria, 10 m .;
In Springfield 1 U m.: to St I.ouls Station 9 m.; total, 255 VC miles
« ii
y
Pvts- John P. Ramsey and Henry M. Mcrrlam of Sprlngneia, ill., were appointed receivers, the January and July 1909 coupons
on the consols being In default. V. 89, p. 41. The Chic. Peoria & St. L.
Hit. was incorporated as successor on Dec. 6 1909, with $4,000,000 auth.
stcck. V. 89, p. 1541. In Dec. 1909 the date of foreclosure sale was ex­
pected to be set shortly. V. 89, p. 1 5 4 1 .
Security-holders’ Committee.— Charles II. Warren (Chairman), George F.
Baker Jr. and Alfred Shepherd (W. W. Stevenson, 34 Nassau St., Secretary;
Bankers' Trust Co., N. Y., depositary).
REORGANIZATION PLAN.— The plan of the security-holders’ comrrlttee dated July 7 1909 (assented to by a large majority of all securities
and declared operative Oct. 26 1909) provides that a new co. shall acquire
the road after foreclosure, subject to the $2,000,000 prior lien mortgage of
1900, of which $] ,950,000 are outstanding. The committee Is given broad
Powers, Including sale In the common Interest.
The plan (V. 89, p. 285) authorizes an Issue of $15,000,000 ‘ ‘gcncraland
refunding” 30-year gold 4 Ms. Present Issue, $2,850,000, of which the
$1,100,000 Issuable In exchange for the old consols and unpaid coupons arc
to bear only 3% Interest for the first 6 years. For six years the new
bonds are to be subject to call at par on any Interest date on 60 days' notice;
thereafter at 107M. Of the bonds, $2,850,000 will be Issued for use under
the plan; $2,000,000 will be reserved to refund prior lien bonds and $150,000
for use In retiring prior lien bonds and $10,000,000 for extensions, etc.
Basis of Exchange of Old Securities for New.
Securities
Amount
If Pay
New Gen. &, New Stock
Deposited.
Out.
(Vot. Tr.)
Ref. 4 Ms.
$1,000 Consol. M. b d s ..$2,000,000
*$500 00
$625 00
100 Overdue coupons
100,000
*50 00
62 50
l.OOu Eq. & car. trusts
181,000
1,000 00
1,000 Income M. bonds 2,000,000
$100 00
400 00
100 00
100 Preferred stock. 3,750,000
7 00
24 50
7 00
100 Common stock .. 3,600,000
3 00
9 00
3 00
* Interest on those bonds reduced to 3% for first six years.
Out of the $2,850,000 "general & refunding” 4 Ms, $850,000 will be placed
In the treasury, and It Is estimated that after providing for the floating debt
the new company will have free treasury assctsln cash and “ general and reIuddlng mortgage” bonds over $1,000,000 to make needed Improvements.
rhe new company will have a fixed annual charge of about $154,000 for
the first 6 years, which will be thereafter Increased about $15,000 by the
Increase In rate from 3% to 4M % on the $1,100,000 new bonds Issued In
exchange for old consols.
Security-holders who preferjnot to make a cash payment as above provided
are offered In new stock at face value voting trust certificates for
$1,000 Income mtge. bonds, $60 In new stock; for $100 pref. stock, $4 In
new stock: for $100 common stock, $2 In new stock.
EARNINGS.— 5 mos., 11909.. ...........Gross, $771,353; net, $182,234
July 1 to Nov. 30.
\1908. ...............Gross, 687,374; net, 111,972
REPORT for year to June 30 It 00 was In V. 90, p. 104, showing, gross,
$1,564,833; net, after taxes, $112,501; other Income, $4,017; Interest ar d
rentals, $233,721; bal., def., $117,202. Pres, and Gen. Mgr., John I*.
Ramsey, St. Louis, Mo.; Sec., Asst. Treas. and Aud., II. W . Berger,
Springfield, 111.; Treas., F. J. Wilson.— (V. 90, p. 104.)
CHICAGO ROCK ISLAND & PACIFIC RAILROAD.— Incorporated In
Iowa on July 31 1902 as an operating company, per plan V. 75, p 239 to
take over the Chic. R. I. & Pac. Railway The entire capital stock
($145,000 000) Is owned by The Rock Island (holding) Company.
BONDS.— The collateral trust 4s of 2002 (authorized Issue $75,000,000)
are secured by a pledge with the trustee of an equal amount of the stock of
The C. R. I. & P. Railway as acquired. In June 1909 $70,386,700 of the
$74,859,600 Railway stock had been acquired.
The $17,364,180 5s secured by St. L. & S. F. common strck were called
for payment at 102 M and Interest on Feb. 1 1910, calling for $17,798,282,
the sale of the stock. It Is understood, realizing $10,852,612. i he remainder
of the purchase price of the collat. trust 5s was provided by the sale of
$7,500,000 new 5s due Sept. 1915, which were purchased by the C. R . I. &
P. Ry. and are held In Its treasury. V. 89, p. 1607.— (V. 87, p. 115 1; V. 89!
p. 1139, 1482, 1667.)
CHICAGO ROCK ISLAND & PACIFIC R\ — (See Map Rock island Co.,
pages 118 and 119.)— The system extends from Chicago. Ill,, via Omaha,
Neb., to Denver & Colorado Springs, Col and via Kansas City, Mo. to
Santa Rosa. New Mex. there connecting with the lines of the New Mexico
By. & Coal Co. and forming with them and the Southern Pacific a through
fine to the Pacific Coast; also from Tucumcarl, N. M., to Memphis, Tenn..
and to Fort Worth Tex , on the south and on the north to Mlnneapi Us
Minn., and Watertown, S. D. with numeious branches viz.:
Mileage owned—
Miles.] Leased— (*See this co.)
Miles,
Chic .III , to Colo Sp’gs, C olo.1 ,o 6 4 Keokuk & Des
Dts Moines*______
Aiolncs*_______ 162
Davenport, la .. to Terral, I. T . 708 Peoria & Bureau Valley*___
Valley*........_
47
Hcrlngton, Kan., to Texlioma,
White & Black River Vallt y * -.
..
62
O T ________________
„ 323 Little Rock & Hot Springs
Western*____________
2:
Burl’gt’n,Ia.,to Mlnn’ap.,Mlnn7 308
Vinton, la., to Watert'n, S. D. 376 Rock Isl. Ark. & Louisiana____ 30‘
Branch lines...................
2,052 Trackage to St. I.ouls, Denver,
Capital stock all owned—
Pueblo, &c___________
716
Choc. Okla. & Gulf (lea sed)... 983 Othei lines under construction.
7o
Chic. R. I. & El Paso............... 1121
Chic. R. I. & Gulf .
........... 523JTotal mileage oner, and under
St. Louis K C. & C o l............. 2841 construction June 30 1009..8.118

M AP OF THE

CHICAGO & NORTHWESTERN
RAILW AY SYSTEM.
9,485 Miles.

RAILWAY STOCKS ANI) BONDS.

iChicago & North-Western Railway
aChicago St.Paul, Minneapolis & Omaha Ry.

<s

<F <>'

1o Lander
148 Miles Kv

,3
^ P A C jn c S ^ ^

R

O g a lln la

>AN.. 1010.]

lesburj^

S 'k d P -C o n

I

f& S tp u t

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|L

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WinnebiaosTilsh

40

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

M iles Date
Road Bonds

Par
Value

Amount
Outstanding

Chicago Rock Island & Pacific (Concluded )—
General mortgage $100,000,000 gold______Ba.c*Ar 2,393 1898 $1,000 Ac
Coll tr M g Ser G to P due yearly red 101 U __ Ce.c*
__ 1902
1,000
Ref M 8163,000.000 gold red 103 to 1011._Ce c*Ar Text
1904 1.000 Ac
Cedar Rapids I F & N VV first mtge gold guar Ce e
292 1881
1,000
B C R & Nor consol first mortgage gold - -Ce.c*Ar
999 1884 1,000 Ac
Minneapolis & St Louis 1st M gold (assumed).-F
12 1877
500
Rock Island A Peoria cons 1st M (V 75 p 30) . Alp
113 1885
5,000
Choc O & G general (now 1st) M $3,500 .000 g
o*
378 1894
1,000
Choc A Mem 1st M $3,750,000 assumed- OP cAt
282 1899
1,000
L Rock Bridge 1st M assumed gold red (text) GP.c*
_
1899
1,000
Consol mtge (sec text) $3),000,000 g o ld .. GP.c*
335 1902
1.000
Car trust Series C due $230,000 yearly
GP
__ 1902
1,000
Rock Isl Ark A Louis 1st M $15,000 000 gold___ Ba
308 1906
Rock Island-’ Frlsco Term 1st M g guar jo in tly ., c*
__ 1907
1,000
Peoria Ry Term 1st mtge gold guar jointly r e d .. IC
__ 1907
1.000
2nd mtge guar jo in tly ..........................................
__
____ _______
Equip notes due $325,000 seml-an (V.84, p.338) Ba
—
1907
1 000
do ser B, due $60,000 s a ___________ ______ ______
—
—
1.000
do ser C, gold, due $265,000 s-a_______________Cec
—
1909
1,000
Chic A R 1 Elev M g guar p A 1redeem at par____e*
—
1904
1 ,ouo
Consol Ind Coal 1st M glut gu red 110 s f __ G c*Ar
. . . 1905
1,000
Chicago St Louis & New Orleans— See Illinois Central
Chicago St Paul Alinn & Omaha— Common stock___
__ ___
100
Preferred stock non-cum Including scrip (see text).
—
-----100
Ch St P & Minn 1st M gold Elroy to L St Cass’d -.c *
177 1878
500 Ac
St P & Sioux City 1st M gold $10,000 per mile. _Cc c
607 1879
1,000
Nor Wls 1st M Lake St C to near Spooner ass'd.Ce.c*
80 1880
1.000
Sault Ste Marie A Southwestern first M assum ed..c
37 1890
1,000
CSt P M A O mtge $30,000,000 ($15,000 p m ).Ce c*
1880
1 000
do
do
consols Interest reduced____
1880
1,000
Chicago Southern— See Southern Indiana
Chicago Subway— 111 T 1st M $30,000,000 g red 105..
60 1903
1.000
First lien mtge gold red 105 (see text)___ Usm.c* Ar
—
1908 1,000 Ac
Chicago Dock M assumed red 105 (V 68 p 333)___
—
1899
Notes secured by 2d M Chic D o c k ________________
Chicago Term Tran RR —Ch A Gt W 1st M gass’d -.c *
__ 1886
1,000
City of Chicago purchase money mortgage assumed
__ __ ________
Receiver’s certificates $3,500,000 authorized g old ..
1907
CHICAGO ROCK ISLAND & PACIFIC RY. (Concluded).
The Rock Island Interests In April 1906 acquired a half Interest In tilt
Trinity A Brazos Valley R y., owning a line from Cleburne to Houston Tex.,
236 miles, with branch to VVaxahatchle, 70 miles, and trackage rights from
Cleburne to Fort W orth. VVaxahatchle to Dallas and Houston to Galveston.
Extension from Little Rock, Ark., to Crossett and Summerville, Ark.,
to Eunice, Ala., 308 miles, under charter of Rock Island Arkansas A Louisi­
ana R R . was completed early In 1908. In Aug. 1909 49 miles were opened
of extension building from Amarillo, Tex., west to Tucumcarl, N. Mex.,
110 miles, under charter of Tucumcarl A Memphis.
HISTORY — A consolidation June 2 1880 with $50,000,000 stock
In July 1909 $70,386,700 of the $74,859,600 capital stock had been de­
posited per plan V. 75, p. 239, each $100 stock being exchanged for the fol­
lowing securities: $100 In 100-year 4% gold bonds of the Chic. R. I. A
Pac. Railroad (of Iowa) and $70 pref. and $100 com stock of the "R ock
Island Company” (of New Jersey), which owns the entire capital stock of
the Railroad company. See statements for those companies.
In 1902 most of the stock *of the Burlington Cedar Rapids & Nor. and
Rock Isl. A Peoria was acquired, and their roadsleased from June 1 anti
subsequently deeded to the C. R. I.
A PV. 74.p. 1194.
1250.
DIVIDENDS—
1 ’98. ’99-’02. ’03. ’04. '05. ’06. ’07. ’08. '09. 1910.
Since 1897 ..............%J 4M 5 y'ly. 7 y2 8W 6 M 0 5M 5H 5 X Jan.,1
In 1909, Jan., l% ;A p rll, 1 X % ; July, 1% ; Oct., 1 % % .
Special distributions, lncl. $1 63 per share June 17 1905, see V. 80,p.2398
BONDS.— Of the general 4s of 1898 those unissued are available as fol­
lows: $21,900,000 at not over $1,000 ,000 per annum for permanent Improve­
ments and additions, lncl. equipment, and $12,500 000 to retire the first 6s
of 1917; Bankers’ Trust Co., New York, and BenJ. Strong Jr., trustees.
Mtge. Abstract In V. 66, p. 522: V. 78, p. 228: V. 80, p. 472.
The collateral trust gold 4s of 1902 ($24 000,000 authorized) are secured
by deposit of all stock of Choc. Okla.&Gulf RR. V .74,p 775,829 936, 1356
The refunding 4 % bonds of 1904 ($163,000,000 authorized Issue) area
first lien (either directly or through pledge of the entire Issues of bonds of
the companies owning the same) on terminal property In St. Paul and
Minneapolis, new equipment and shops at Moline, III., and on rail­
way lines aggregating 1,148 miles; also a junior lien subject to existing
mortgages on all the other lines of the system of the Railway company, ag­
gregating. exclusive of leased lines and trackage, 5,708 miles. See V. 78,
p. 228. 234: V. 79, p. 1716, 2208; V. 84, p. 219; V. 85, p. 98; V. 85. p. 1478.
Issuable lorthw lth.......................... ................ ...............................$51.00u,ou0
Issued or Issuable to an amount equal to the value of bonds so
Issued, to acquire property, Including stocks and bonds . . . 25,000.000
Reserved to retire at or before maturity all bonds of the railway
system falling due within the next 30 years (none of such
underlying bonds to be extended). also to acquire $25,900,000
general 4s of 1898 Issuable for Improvements, viz.
Bonds to Be Taken Up—
Chicago Rock Island A Pacific Ry. gen mtge. 4s
hereafter to be Issued, viz.:
(a) To retire at maturity 1st 6s of 1917...............$12,500,000
(b) At not exceeding $1,000,000 per year for ad­
ditions and Improvements___________________ 25,900.000
Burlington Cedar Rapids & Northern Ry. Co. cons
5s Issued or hereafter to be Issued to retire:
(a) B. C. R. & N. Ry. 1st mtge. 5s of 1906___
6 500,ooo
(b) Ced. Rap. la Falls & N 1st mtge, 5s of 1921. I 905 000
Choctaw Oklahoma & Gulf RR. consol. 5s here­
after to be Issued to retire $5,500 000 C. O. & G.
R R . general mtge. 5s of 1 9 19... ........................... 5 500 000
Chicago Rock Island A Pac. Ry. gold 4s of 1902
(Choctaw Oklahoma & Guir stock collateral). 22 410,000
6 % notes of D. R. Francis, Ac., paid Jan. 1 1905 .. 4 500 000
Rock Island A Peo. Ry. Co consol. M 6s of 1925..
450,000
Choc. Okla & Gulf RR. equip trust certificates.- 2.360,000
„
---------------- $82,025,001'
Reserved to provide 75% of purchase price of securities of
other companies hereafter acquired......................................... $13,500,000
Reserved to be Issued at not over $2,500,000 yearly from Jan. 1
1904 r Oit.f,. Imn"-'v»”'>ent<9 anH >n’iln>Tw>nt
$ ’7 475 00'
Of the $83,422,000 refunding 4s dated 1904 Issued .Tan. 19io, $28,104io00
were Issued for refunding purposes, $15,000,000 to reimburse treasury,'$22,818,000 for acquisition of property or securities and $17,500,000 for Im­
provements. Of the remaining $79,578,000 bonds authorized, $53,921,000
were reserved for underlying bonds, $13,500,000 to pay for 75% of the pur­
chase price of bonds of other companies, and the balance for Improvements
and acquisitions of other properties or securities. In Oct. 1908 $9,000,000
was sold. In Mch. 1909 $3,486,000, In Aug. 1909 $1,494,000 and In Jan. 1910
$3,500,000, making $83,422,000 outstanding as above. V. 87, p 1080,1419;
V. 88, p. 623, 822; V. 89, p. 666; V. 90, p. 108, 236. Peoria Ry. Term,
first 4s ($1,500,000 auth. Issue), guar, jointly with Chicago A Alton, are sub.
to call a t 102 after 10 yrs.; also Jointly guar. $280,000 2d 5s. V. 85, p. 159.
As to Chic. R. I. A Pac. Elevator mtge., see V. 79, p. 2590: V. 82, p. 750.
As to Consol. Indiana Coal 5s, Interest guar., see V. 80, p. 2401, 2623;
form of guaranty, V. 82, p. 1499. Rock Island-Frlsco Terminal Ry. 5s.
guaranteed Jointly, V. 84, p. 569, 748.
LATEST EARNINGS.— (1909___ Gross, $29,651,036; net, $10,077,074
5 mos., July 1 to Nov. 30. ]1908___ Gross, 26,443 315; net,
8,170,841
RE PO RT.— For fiscal year 1908-09 In V. 89, p. 1064, 1164; edit., p. 1194.
Year ending June 30—
1908-09.
1907-08.
Inc. or Dec.
Average miles....................................
8,026
7,969
+57
Total operating revenue................ .$61,184,887 $58,484,197 +$2,700,690
Operating income (after taxes)------$16,400,527 $14,558,122 +$1,842,405
Total net Income................................ 16,611,998 14,686,756
+1,925,242
Interest and rentals.......................... 10,429,190
9,958,454
+470,736
Betterments on leased lines.............
16,577
10,200
+ 6 377
Dividends ( 5 K % ) ............................ 3,930,019
3,929,785
+234
Balance,'surplus............................... $2,236,212




$788,317 +$1,447,895

$61,581,000
13,446 000
83,422,000
1.905,000
11,000,000
150,000
450 ,000
5,500 ,000
3,525,000
235,000
5,411,000
220 ,000
See text
3,000.000
944.000
280,000
4,550,000
420,000
5,300,000
850 000
2,682,000

Rate
%

[VOL.

When
Payable

4g J
.\1
4g
4 g A
5 g A
A
5 g
7 g J
6
J
5g J
5g J
6g J
M
5 g
4 g A
5g J
5g J
4g J
5
F
4X
6
A
4fc» g A
5g A
5g J

L X XX X,

Last Dividend Places Where Interest anti
and Maturity
Dividends are Payable

A
A
A
A
A
A
A
A
A
A
A
A
A
A
A

J Jan 1 1988
First Nat. Bank, N. Y .
N May 1910-1918
do
do
O Apr 1 1934
do
do
O Oct 1 1921
First National Bank N Y
O Apr 1 1934
do
do
D June 1 1927
do
do
J July 1 1925
do
do
J Oct 1 1919
do
do
J Jan 1 1949
do
do
J July 1 1919
do
do
N May 1 1952
do
do
O Apr 1 1910
do
do
J Jan 1 1956
J Jan 1 1927
New York and St Louis
J Jan 1 1937
New York

A
A
A
A
A

A
0
0
0
D

Aug ’10-Feb ‘ 7 First National Bank N Y
Apr ’ 10-Apr ’ 13
Apr ’ 10-O'ct '19
Oct 1 1924
First Tr A Sav Bank Chic
June 1 1935
Guaranty Trust Co N Y

18,559,086 7 In 1909 F A A Aug 20 1909 3 + Office 111 B’way N Y
11.259,91 1 7 In 1909 F A A Aug 20 1909 3 b
do
do
1,316,000
6g
M A N May 1 1918
do
do
6.070 ,000
A A O Apr 1 1919
do
0g
do
631,000
6
J A J Jan 1 1930
do
do
350 .000
5
M A N Nov 1 1915
do
do
16.373,000
6
.1 A D June 1 1930
do
do
3,734,000
do
3H J A D June l 1930
do
See text
See text
665,000

5g
6g
4g

J
J
A

394.000
650 ,000
150 000

5g
5
6

J A D June 1 1936
M A N May 1 1938
Monthly. See text

A D Dec 1 1928
A D June 1 1028
A O 1929

Northern Tr Co Chicago
Mercantile Trust Co N Y

Old Basis—
1906-07.
1905-06.
1904-05.
1903-04.
7,780
7,218
7,232
7 ’ 95
Miles operated...............
Gross earnings.................$60,238,420 $51,237,858 $44,051,509 $44,969,491
OFFICERS.— Pres., H. U. Mudge; VIcc-Prcs., Sec. and Trcas.,
Geo. H. Crosby, Chicago; Vlce-Pres. and Asst. Sec., Geo. T. Boggs, N. Y..
ASrSto £ ec’ andA sstT r-M s., j . j . Quinlan. N. Y. office, 115 Broadway.—
(V. 89, p. 1541, 1596; V. 90, p. 108, 166, 236.)
CHICAGO ST. PAUL MINNEAPOLIS & OMAHA R Y.— (See M ap Chi­
cago & North Western.)— ROAD.— Elroy, Wls., to Omaha. Neb., 593 miles;
other lines, 1,146 m.; total July 1 1909, 1,739 miles, of which 1,669 are
owned and 70 miles leased. V. 69, p. 1147.
HISTORY.— This was a consolidation July 1880 of the Chicago St. Paul
A Minneapolis, the North Wisconsin and the St. Paul A Sioux City.
in November 1883 Chicago A North Western Ry. purchased control,
viz.. $9,320,000 common and $5,380,000 preferred.
STOCK.—Authorized common, $21,403,293; preferred, $12,646,833.
Held by the company June 30 1909, common stock and scrip, $2,844,207;
preferred stock and scrip, $1,386,921. Preferred stock has a prior right
to non-cum. dividend of 7% , but com. Is never to receive more than pref.
DIVS.— 1 ’ 93-’96. ’97. ’98.. 99. ’ 00. ’ 01. ’02. ’ 03. ’04. '05-’08. 1909.
Com. . _ %) None.
2
2 3)1 3
5
8
6
6 7 y ’ly.
7
Pref . . . — J----------------7 per annum (3 M F. A A .)---------------------------------BONDS.— There are $1,500,000 Superior Short Line R y. bonds which
are owned. Chicago St. Paul A Minneapolis first 6s, due 1918, and North
Wisconsin first 6s, due 1930, are exchangeable at option of holder at any
time, $ for $, for consol. 6s of 1880, due 1930. V. 68, p. 521; V. 77, p. 2389.
EARNINGS.— 5 mos.,(1909.......... Gross, $6,688,690; net, $2,458,131
July 1 to Nov. 30. \1908_____ Gross, 5,087,388; net, 2,297,813
REPO RT.— Year ends June 30. Report for 1908-09, V. 89, p. 775.
1908-09.
1907-08. Inc. or Dec.
$13,524,650 $12,840,369 + $684,281
' .
‘ _
____ ___________
Oper. expenses and taxes__________
9,474,108
9,106,121
+ 367,987
Net operating Income______________ $4,050,542
Total net Income_______________ . $4,173,606
Interest on bonds__________________ $1,602,773
Rentals and miscellaneous_________
308,593
Dividend on common stock (7%) .
1,298,934
Dividend on preferred stock (7 % )__
787,976

$3,734,248
$3,950,764
$1,579,047
266,663
1,298,934
787,976

+ $316,294
+ $222,842
+ $23,726
+ 41,930

Net surplus for year_______
$175,330
$18,144 +$157,186
— (V. 86, p. 1529; V. 87, p. 285, 869; V. 89, p. 162. 775, 1141.)
CHICAGO SOUTHERN R Y — See Southern Indiana Ry.
CHICAGO SUBWAY CO.— Incorporated In New Jersey Nov. 21 1904
and holds over 99 54% of the $30,000,000 authorized and outstanding
stock of the Illinois Tunnel Co. and of the stocks of the Illinois Telephone
Construction Co. and the Chicago Warehouse A Terminal Co.
The Illinois Tunnel Co. had completed, Oct. 1908, 60 miles of tunnel
equipped with narrow-gauge electric motors and cars, designed for the
transfer of freight between the various railroad terminals In the City of Chi­
cago, and from these terminals to and from the downtown business district
and between business houses. It Is still engaged In developing and extend­
ing the system. See V. 86, p. 720; V. 87, p. 1357.
On Dec. 1 1909 the Interest on the first lien bonds was defaulted and re­
ceivers were appointed for the controlled properties, the Illinois Tunnel Co.
and Chicago Warehouse A Terminal Co. (David R. Forgan and Charles G.
Dawes for the former and Edwin A. Potter for the latter). It Is proposed
to reorganize the enterprise, some $5,000,000 or more new money. It Is said,
being required to complete the property and place It in position to be op­
erated profitably. V. 89, p. 1482.
Reorganization Committee.— William Stawart Tod, Henry W. Forest and
L. C. KrautholT represent all classes of securities of the Chicago Subway Co.,
Illinois Tunnel Co. and Chicago Warehouse Co., being chosen by a large
majority of each. V. 89, p. 1482, 1541.
In Dec. 1909 Sutro Bros. A Co. requested holders of Illinois Tunnel bonds
to communicate with them to protect their Interests. V. 89, p. 1542.
The authorized stock of the Chicago Subway Co. is $50 000,000, of which
$5,000,000 remains In the treasury unissued; par value of shares $100.
In April 1908 It was arranged to exchange per plan V. 86, p. 1284, 1467,
the outstanding $17,000,000 Illinois Tunnel 5% bonds for Chicago Subway
20-year 5% first lien bonds secured bv deposit of the Tunnel bonds, the
stock of the Tunnel Co. and by other property, Including the subway com­
pany’s Interest In the stock of the Chicago Warehouse A Terminal Co. Of
the bonds, an amount may be applied to replace $13,000,000 Illinois Tunnel
bonds as security for $9,500,000 lloatlng debt of Tunnel Co. V. 86, p. 794.
In July 1909 $15,842,000 first Hen bonds had been Issued In exchange for
Illinois Tunnel bonds. V. 87, p. 166: V. 88, p. 100. Chicago office, 1779
Monroe St.— (V. 89, p. 778, 918, 1482, 1541.)
CHICAGO TERMINAL TRANSFER RR.— See Baltimore A Ohio Chi­
cago Terminal RR.
CHICAGO & WESTERN INDIANA RR.— Owns a valuablo terminal
system of roads affording entrance Into Chicago to the roads named below.
Its lines extend from Dearborn Station, Polk St., Chicago, to Dolton, 17 m.;
also to Indiana State line, 10 m., to Cragin, 16 m., and to South Chicago, 5
m.; total. 48 m.; total track. Including 2d. 3d, 4th tracks and sidings, 260
m.; also owns over 1,200 acres of real estate, passenger and freight yards,
warehouses, elevators, Ac. The Belt Ry. of Chicago leases and operates
116 miles of the 300 miles owned by the Ch. A W. I., Its securities being all
held by the companies leasing the Chicago A W. I.; see V. 60, p. 1058.
Proposed passenger station, V. 89, p. 162.
LEASES.—This company’s road and terminals are leased under per­
petual contracts to the Wabash, the Grand Trunk West., the Chicago A
Eastern Illinois, the Chicago A Erie and the Chicago Indianapolis A Louis-

Jan ., 1910,

RAILROAD COMPANIES
[For abbreviations, & c., see notes on first page]

Miles Date
Road Bonds

Chicago & Western Indiana—-Stock (see text) ----General mortgage gold sink fund subj to call 105.c*
Cons M $50,000,000 g ____________________ IC.c*&r
Chicago & West Michigan— See Pcrc Marquette R R
Chicago Wisconsin & Minnesota— See Wisconsin Cent
Chihuahua & Pacific— First M g o ld ----------------- .Ma
Choctaw & Alemphis— See Chic Rock Island & PacRy
Choctaw Okla & Gulf RR— See Chic Rock l & Pac Ry
Cincinnati Bluffton & Chicago— 1st M $1.500.000 g.c*
Cincinnati Dayton & Ironton— See Clncln Ham & Day
Cincinnati Find & Ft W— 1st M g guar end red--N c*
Cincinnati Hamilton & Dayton— Common stock_____

48

1882
1902

180

1905

62

1903

Second (now first) mortgage gold................. . Fc*
General mortgage $7,800,000 gold...................Me c*
Cincinnati Dayton & Chicago first mtge gold_____N
Cln Day & Ironton 1st M g guar (assumed)__ Ce.c*

59
59
05
167

91 1903
1887
1892
1892
1891
1904
1905
1887
1889
1909
1909
1908
1905
1904
J 1895
(1895
1902
1K8 1
1899
1903

Par
Value

When
Payable

Amount
Outstanding

Rate
%

$100 $5,000,000
1,000 7,813,667
1.000&C 35,537,000

6
6g
4g

j

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

Q - -M 31 Dec 31 1909 1 H Chicago
J P Morgan & Co N Y
M Dec 1 1932
y
III Tr & S Bk, Chic; &NY
& J July 1 1952

1,000

2.360,000

5g

j

&

J Jan 1 1955

1,000

As collat.

5g

M &

S Sept 1 1933

Office 80 Broadway. N Y
Sept '08 coupon not paid
J P Morgan & Co, N Y
Cincinnati

1,000
1,150,000
4 g M & N Nov 1 1923
100 8,000,000 See text
Text
Dec 24 190 3 2?c
100
a248,575
1.000
2,000,000
4>4 e J & .1 Jan 1 1937
1,000
3,000,000
5 g J & D June 1 1942
1,000
1,200,000
4
A & O Apr 1 1942
1,000
3,500.000
5 g M & N May 1 1941
1,000 &c
J & J
1,000 17,500,000
J & J Jan 1 1955
4X
1,000
300,000
J & J July 1 1937
4X
1,000
300,000
6
A & O Oct 1 1929
bl4,500,000
4
J & J July 1 1959
20,000,000 See text See text July 1 1939
1,000 11,557,000
4 g J & J July 1 1913
1,000
702,000
4M g A & O To Apr 1 1916
1,000
920,000
4H g A & () To Oct 1 1914
1,000
2,229,000
5 g J A J Jan 1 1935
1,000
933,000
5 g .1 & J Jan 1 1935
1.000
4 722,000
4 g J & J Jan 1 1953
1 ooo
2,728,000
5
J & .1 ran 1 1911
1,000
250,000
M A N Nov 1 1939
4g
1,000
1,150,000
il & N Nov 1 1923
4g

Owned by Company
do
do
do
do
J P Morgan & Co, N Y
do
do
Central Trust Co, N Y
J P Morgan &XCo, N Y
R Wlnthrop & Co N Y
Central Trust Co N|Y
do
do
J P Morgan & Co N Y
.1 P Morgan 8e Co N Y
Un Sav Bk & Tr Co., Cln
J P Morgan & Co, N Y

& A Feb l 1910 2
& .1 Jan 2 1916
& N Nov 1 1942
& A Aug 1 1948
& D Dec 21 1909 2 H
c — M Dec 1 1909 1 H
addition al under purch.

Cincinnati
Central Tr & S D Co Cln
Farmers’ L & Tr Co N Y
Farmers' L & Tr Co N Y
Cincinnati
do
money notes of 1908

All
Cln Ham & Dayton consol mortgage___________ Cc
13
Cincinnati & Dayton 1st mortgage________________
14
Toledo Findlay A Springfield 1st M ______ ______
All
First & ref M $75,000,000 authorized, part guar.Ba
All
General mortgage $20,000,000 redeemable text.^Ce
Coll tr pur m notes $11,557,000 g gu p&l redparCe.xc
Car trusts gold $54 000 due s-a begin Oct ’06-_Ce.C
Car trusts $92,000 due sem i-annually...................
Ind Dec & W 1st M gold redfnot guaranteed ..C c 1 262
at 11 0 ___________________ (guar p & 1 (end)___ c )
C 1 & W 1 st & ref M $8,200 ,ooo g gii p & I end . .Ta ■ 361
Dayton & Michigan first mortgage guar p & 1end .c
142
Plqua & Troy 1st M $250,000 gold guar p & I__ c
9
Cincinnati Find & Ft W 1st M g guar end red . N c*
91
Cincin & Ind Western— See Chicago Clncln & Loulsv
•Cincinnati Indianapolis & Western— Sec Cincinnati IT amllto n & D ayton
100
4
804,500
Cincinnati Inter-Terminal RR— 1st pref stk (see text) Text ____
1,000
200,000
5
38 1886
Cincinnati Lebanon & Normern— First mortgage— c
1 000
1,268,000
52 1902
1st con M $1 ,500 000 g gu p & 1end (V 75 p 1398) .c*
4g
1,000
1,750,000
148 1898
4g
Cln & Musk Val— 1st M $2 OOO.OOQ g gu p & 1end F.c*
100
___
3.000,000 5 In 1909
Cin NewOri & Texas Pac— Com stock 53,000,000 ----100
2.453 400 5 In long
Preferred stock 5 % cumulative $3,000,000
a To be reduced to this amoun t unde r plan o n 909. I b Also $13 ,000,000
vllle, each of which live companies owns $1,000,000 stock. They are also
leased to the Atchison, the Elgin Joliet & Eastern and Belt Ry. Annual
rental must always exceed at least 20% lnt. on bonds outst. V. 78, p. 810
DIVIDEN DS.—
\'05. ’90. '07. ’08. ’ 99. ’ 00 to D ec.’ 09.
Per cent_________ ___________/7)-$
0
0
6
0
0 yearly.
BONDS.—The general mortgage bonds arc drawn at 105 and Interest In
such annual amounts as will retire the debt by maturity.
Of the consol. 4s of 1902 (auth. Issue $50,000,000), $28 037 599 has been
sold on account of track elevation and other Impr’ ts, $0,599,401 additional
were used to refund bonds canceled by operation of the sinking fund. $6
649,009 are reserved to retire underlying bonds and $7,814,000 for future
additions equal to at least the par value of the bonds Issued. The Item of
$28,937,599 Includes $12,271,000 sold In Dec. 1908, part of which was
used to retire the $8,000,000 collateral trust notes called for payment
Feb. 1 1909. V. 87, p. 30, 1604, 1063; V. 88, p. 100, 374.
ANNUAL REPORT.— Fiscal year ends Dec. 31. Report for 1908 was 'n
V. 88, p. 1614, showing gross income, $2,310,389; lnt., &c., $1,986,634;
dlvs., $300,000; bal., $23,755. Pres., ffm . J. Ilcnley.— (V. 89, p. 592.)
CHIHUAHUA & PACIFIC RR.— Chihuahua, Mox., to Mlnaca, 125 miles:
El Carp o Jet. to Tomosaoh c, Mox , 55 miles. See Kansas City Mexico &
Orient statement and V. 71, p. 181. Stock Is $2,800,000; par of shares,
$100. Bonds, see table above. In Mch. 1909 tho Mexico Northwestern
R y. acquired the stock and bonds. V. 88, p. 748.— (V. 88, p. 748.)
CINCINNATI BLUFFTON & CHICAGO RR — Road Is projected
from Huntington to Union City, Ind., 75 m., of which BlufTton to Hunting
ton, 52 miles, completed. V. 84, p 1182. On March 14 1908 John C.
Curtis was appointed receiver. V. 86, p. 720. The Sept. 1908 coupon was
not paid when due. Receiver’s certs. May 1909, $125,722 6s, due In 4 mos.
to 2 years’ time. V. 88, p. 1313. Bondholders’ committee, V. 87. p. 873.
Stock, $1,125,000, all of one class, issuable $15,000 per mile; par of
shares $luo eacu
Bonds, see table above
V. 84 n 449 599. Fo> vear
ending June 30 1909, gross, $83,883: net, $21,123; lnt. and taxes, $51,315;
bal., def., $30,192. Pres., S. H. Bracey; Sec., Charles Blackburn; Treas.,
VVm. George. Office, 1606 Tribune Bldg., Chicago, 111.— (V. 88, p. 1313.)
CINCINNATI FINDLAY & FORT WAYNE RY — Owns Findlay. O.. to
Ft. Wayne, Ind., 80 m ; also connecting link with the Cln. Ham. & 1). ftom
Delphos to Mandate, 12 m ., completed Oct 15 1904. V. 77. p. 88. 694.
Leased to Cln Ham. <Sc I), for 99 years from Nov. 1 1903, with privilege of
renewal for like periods forever. V. 78, p 286
Stock, $1,250,000, all
owned by the Cln Ham. & D.. which guarantees bonds, prln. and Interest.
Mtge. Is limited by special agreement to $1,150,000, or about $12,500 per
mile. Bonds are sublect to call at 102 1$ anil Interest. V. 78. p. 286, 342,
701, Form of guaranty, V. 78, p. 701.— (V. 89, p. 469.)
CIN. GEORGETOWN & PORTS. RR.— See '•Electric Railway Section.”
CINCINNATI HAAULTON & DAYTON R Y — The system Includes;
Road owned—
Miles.
Proprietary roads—
Miles.
Cincinnati to Dayton, O __________ 59Cincinnati Ind. & Western____ *361
Dayton to Ironton, O_________ 165 Cincinnati & D ayton.. _______ 13
Dayton to Delphos, O ........ ........ 95 Columbus Findlay & Northern.. 18
Trackage....... .................
62 Bowling Green R R ____________
19
Roads leased— t+Seethls Co.)
Plqua & Troy Branch_________
8
Dayton & Michigan___________ *142 Clncln. Find. & Ft. W a y n e __ *91
Home Ave. R R .................
3
Total of all_________________ 1,036
Owns $11.000,000 Pore Marquette RR stock: also owns Dayton & Union
Jointly with Clev. Cln. Chic. & St. L. and Jointly with Southern Ry. controls
Cln. New Orl & Tex. Pae Ry. V. 75, p. 978.
ORGANIZATION.— The company resumed possession on Aug. 19 1909,
the finances having been readjusted without foreclosure per plan of June
1909 (V .8 8 ,p . 1436, 1498). Under the plan the management of the system
was taken over by the B. & O. R R ., and the ownership of the controlling
stock Is to be acquired by that company at the end of 7 years from July 1
1909 at a price then to be fixed by arbitrators; during the 7 years said
controlling stock Is to be vested In three voting trustees, one to bo President
for time being of B. & O.
STOCK.— The plan contemplated tho retirement of tho $7,751,425 pref.
stock (out of $8,000,000 total).
BONDS, &c.— The holders of 4 H % notes ($15,000,000 receive for each
$1,000 note and Its coupons $60 In cash and $1,000 of new gen. mtge. bonds
(total Issue $20,000.000), to draw Interest as follows: 4 'A% dependent upon
Income until July 1 1911; 1 % fixed and 3
dependent upon Income until
jn ly 11914; 3% fixed and 1 yt% dependent upon Income until July 1 1916;
thereafter 4
fixed;
1 . First and Refunding Mortgaqe dated July l 1909, Auth. Issue, $75,000,000.
This mortgage Is to cover all the Hues of railway of the company, all Its
leasehold rights, all stocks of subsidiary companies owning operated lines
and all property acquired by use of said bonds or the proceeds thereof.
Of which there arc presently to bo issued $27,500,000, viz.;
(a) To pay or adjust Indebtedness due and accrued.
. $7,500,000
(b) For Improvements now needed__________
5,000,000
(c) For necessary working capital...........................................I . .
2,000,000
(d) For collateral to $11,557,000 4% purchase money notes of
1908 ...........................- ..................................................... ....... 13,000,000
Reserved for future use, $47,500,000, viz.:
(e) For additions, Improvements and betterments.................. .$23,714,000
(/) For refunding underlying bonds— .................................... 23,786,000
The bonds specified above as (6) and (c) and $5,500,000 of thoso named
as (a) are to be guaranteed, prln. and lnt., by the Baltimore & Ohio UR. Co.
Under supplemental agreement dated July 1 1909 (V. 89, p. 469) $11,­
557,000 4% purchase money notes dated 1908 and due July 1 1913 (of
which a small amount which was reserved to retire outstanding refund­
ing 48 of 1904 had In Aug. 1909 not been issued) arc to be secured by pledge
■of $13,000,000 new “ first & refunding” 4s. These notes are guar, by the
B. & O. See form, V. 89, p. 918. The ref. mtge. bonds (dated 1004, for
which tho purchase money notes of 1008 were exchanged) have been or
are to be canceled.




41

RAILWAY STOCKS AND BONDS

F
J
M
F
J

J P Morgan & Co N Y
do
do
do
do
do
do

2. General Mortgage (see above)— Total Issue, $20,000,000.
The fixed Interest on the general mortgage will be payable Jan. 1 and
July 1, and the Interest dependent on Income (non-cumulatlve) will be
payable Nov. 1 yearly. Of the generals, $15,000,000 are issuable In ex­
change for the 4 H % notes, the remaining $5,000,000 for floating debt, &o
In consideration of the undertakings of the B. & O., the original bonds
to be Issued under the gen. mtge. are to bo subject to call on any July 1
prior to July 1 1916, for exchange for new 4% bonds secured by the gen.
mtge. and guar, by the B. & O. as to prln. and lnt. The original bonds are
also to be subject to call for payment at par and accrued lnt. and the 4%
guar, bonds at 103 and accrued lnt. on any Jan. l or Julv 1.
During July 1916 (or sooner. In case of earlier acquisition by B. & O.
of the controlling stock) the B. & O. will, upon demand, unless said gen.
mtge. bonds shall have been sooner redeemed, at Its option either (a) pay
85% In cash and Interest for said bonds or (b) Issue In exchange therefor a
new 4% bond secured by said gen. mtge. and guar. prln. and lnt. by the
B & O.; the B. & O. to elect whether to make such purchase or exchange.
GUAR VN'ntSS. — Guarantees securities of Cln Ind & West . Dayton &
Mich, and Cln. Find. & Ft. Wayne; also $933,000 Ind. Dec. & West. 5s.
Also guaranteed $9,207,000 Pere Marquette refunding 4s, but stockholders
of C. H. & D. subsequently voted to cancel lease and guaranty. V. 85,
p. 653; V. 87, p. 1355.
EARNINGS.— 5 m os.,/1909...........Gross, $4,234,783; net, $1,182,835
859,592
July 1 to Nov. 30. 11008-........ Gross, 3,590,036; net,
REPORT.— Report for year ending June 30 1907 in V. 85, p. 1003.
June
30—
1908-09.
”Year ending
’
*
"
---------1907-08.
1906-07.
Miles operated______________________
1,036
1,038
1,038
Gross earnings_______________________ $7,897,048 $8,011,483 $8,729,064
Net Income......................... .....................1,131,078
1,145,955
1,987,275
Deduct Interest on bonds___________ 2,206,176
2,217,262
2,220,615
Interest on bills payable____________
246,577
234,522
261,345
Rentals___ _______
370,247
368,073
366,669
Balance, deficit, for y ear..................$1,691,922 $1,673,902
$861,354
OFFICERS.— Chairman of Board, Oscar G. Murray; President, William
Cotter; Vice-Pres., J. L. Cramer; Sec. and Treas., F. M. Carter; Asst.
Sec., E. M. Devereux.
Directors.— Oscar G. Murray, L. F. Loree, Geo. F. Randolph, William
Cotter, Geo. W. Perkins, Charles Steele, Frederick W. Stevens, George F.
Baker, F. A. Durban, Joseph W ood, E. R. Bacon, Henry F. Shoemaker,
F. D. Underwood, H. S. Redmond and Norman B. Ream.— (V. 90, p. 236.)
CINCINNATI INDIANAPOLIS & WESTERN RR — Hamilton, O.. to
Sprlnglleld, 111.. 284 miles; Sldell. 111., to West Liberty, 77 miles; trackage.
West Liberty to Olney, 8 miles. A consolidation Sept. 1902. V. 75, p
239.289.497,732. Stock authorized, $8,200,000; Issued. $7,115,800; all
owned by C. H. & D ., which received dividends thereon In 1902-03, $126,798;
In 1903-04. $167,322; In 1904-05, $156,095.
BONDS.— The “ first and refunding” 4s of 1902 ($8 ,200,000 authorized
Issue) are guaranteed principal and Interest, by C. H & D. by endorse­
ment. V. 75, p. 1201. 1335; V. 77, p. 1290. Guaranty, V. 78, p. 2011.
The I. D. & W. bonds are redeemable by lot at 110 at any time on eight
weeks’ notice: $933,000 are guaranteed by Cln. Ham. fc Dayton. Car
trusts June 1909. $42,000 4% equipment notes, due semi-annually to Nov. 1
1911 lncl.; lnt. M.&N. at Blair & Co., N .Y .— (V.88, p.451; V.89, p. 469.)
CINCINNATI INTER-TERMINAL RR.— Owns a road 6 miles in length
connecting the Chesapeake & Ohio bridge and the Cln. Ham. & Dayton
terminals. Controlled by Chesapeake & Ohio R y. Common stock, $10,000
In $100 shares, Issued for purpose of control. There Is authorized $1,000,­
000 of first preferred 4% cumulative stock secured by moitgage to the
Union Savings Bank & Trust Co. of Cincinnati, as trustee, and rentals paid
by Chesapeake & Ohio and Louisville & Nashville, and subject to call on
any Interest day after Feb. 1 1915 at 105. V 79. p. 212; V. 80 p. 1728,
2398, 2620. Rentals received to year ending June 30 1909, $32,436; dlvs.,
$31,804; bal., sur., $632. Pres., Geo. W. Stevens.— (V. 80, p. 2620.)
CINCINNATI LEBANON & NORTHERN RY.— Owns Cincinnati, O., to
Dodds, 38 miles. Including 6 miles from Lebanon to Dodds, leased to the
Dayton Leb. <& Cln. R R .; Middletown June, to Middletown. O., 14 miles
(former Mid & Cln. R R ., taken over Jan. 1 1903); total, 52 miles. Stock
authorized $1,500,000; outstanding $1 ,1 0 0 ,000, mostly owned by Penn.
Co. V. 75, p. 980. Dividend of 3% paid In 1906. Of the $1,500.000 first
consolidated 4s of 1902. guaranteed principal and Interest by the Pennsyl­
vania Companu. $200,000 are reserved to retire the 5s due 1916. V. 77,
p. 86. Cal. year 1908, gross, $305,079; net, $46,390; oth. Inc., $37,477;
charges, $73,449; sur., $10,418.— (V. 77. p. 86.)
CINCINNATI & MUSKINGUM VALLEY RR.— (See Maps of Pennsyl­
vania RR.)— Owns Morrow. O., to Trlnway, O., 148 miles; half Interest
Zanesville Terminal R R ., 5 miles. V. 77, p. 86
Of the bonds, $250,000 are reserved for future needs; sinking fund retires
yearly 1% of those outstanding, If offered at par or less. The Penn­
sylvania Company guarantees the bonds, principal and Interest. Sec
form of guaranty, V. 76, p 653. Stock, $2,000,000 , all owned Jan. 1 1909
by the Pitts. Cln. Chic. & St. L. Ry. Dividends; 1900,6% ; 1901 to 1906,
lncl., 2% yrly.; 1907 and 1908, 4% 19 9 .5 % . Penn. RR. owns $1,318,­
000 of the $1,705,000 bds Car trusts, $67,200 3 >*s, payable $22,400 yrly.
to June 1912.
Yr. end. Dec. 31—
Gross
N”t Jnc.
Interest.
Dividends. Balance.
1908 .........................$783,888 $205,719 $70,000 (4%)$80,000 $55,719
1907 ......................... 933,813
232,703
70,000
(4%)80,000
82,703
Payments In addition to above In 1908 were $10,346 for additions. Im­
provements, .Sec. (against $20,894 In 1907), and $19,55 for prln. and lnt.
of car trusts and hire of equipment. &c.— (V. 82, p. 1494.)
CINCINNATI NEW ORLEANS & TEXAS PACIFIC RY.— (See Map o
Southern Ry.)— Operates Cincinnati Southern R y., owned by city of Cin­
cinnati, Cincinnati to Chattanooga, Tenn., 335 miles; trackage, 2 miles. In
Jan. 1903 the entire stock of the Harrlman & Northeastern R y.. 20 miles,
was acquired, but road Is operated separately. V. 77, p. 1743.

42

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

Cln New Orl & Texas Pac (Concluded) —
Notes,due 5150,ou0 semi-annually______________ _
19"6
Notes.......................................................... ......... .........
__ 1907
Equip trusts due abt 585 000 s-a (V 78 p 1391)___
1904
do
Ser B due 597,000 seml-ann (V 82 p 928)
__ 1906
__ 1007
do
----------------------------------------------------------Cincinnati Northern— 1st M 53,000,000 gold -.G c*&i
- . 1901
Cincinnati Richmond & Ft W— 1st M gold Int truar.c*
86 1871
Clcarf’d & Mahoning-— Stock6% rent 51,000,000 auth.
__ ____
First mortgage gold guaranteed B R & P .- G ^ f t i
26 1893
_ _ ___
Cleveland Akron & Columbus— Stock 54,000.000___
General mortgage (now first) gold_________________
177 1887
First consol mtge 54,000,000/guaranteed p & 1end. 1 188/ 1900
gold sinking fund________ ( not guaranteed____ j
1 1900
____
Cleveland Cincinnati Chicago & St Louis— Com stock
Preferred stock 5 % non-cumulatlve...........................
C 1 St L & C con M drawn at 105 sink fund 1 % __ c*
175 1880
__ 1886
Gen 1st M 510,000,000 g s f not drawn___ Ce c&r
Cleve Col Cln & Ind consol mortgage (see text)___
391 1874
Gen cons mortgage (512,000,000) gold..U s.c*& r
391 1884
Indian & St L 1st M In 3 series of S667,000-..U s.c
72 1869
2d M (52,000,000) gold Indlanap to Terre H __ c*
72 1882
Clev Cln Chic & St L White Wat Val Dlv 1st g.Ce.c*
62 1890
Spr & Col Dlv (Col Sp & Cln) 1st M gold.........Ce c*
45 1890
Cairo Division 1st M 55,000,000 gold...........Ce.c*
267 1890
104 1890
St Louis Dlv coll tr gold (5351,000 In s f)..C e,c& r
Clncln Wab & Mich Dlv first mtge gold___ Us c*
203 1801
Gen M 100 years for 550,000,000 gold__ Mex.c*&r 1,021 1893
New bonds, 520,000,000 authorized_____________
Notes 55,000,000 gold...........................................c&r
. . . 1907
Obligations for Proprietary Lines
__ ___
Cincinnati Sandusky & Cleveland— Preferred stock.
Consol (now first) mtge 53,000,000 gold__ AB,e
170 1888
125 1003
Central Indiana first mtge 54,000,000 gold guar. .Ce
Ch I & St L S L 1st M 53,000,000 gold gu..Ce,c*& r
45 1003
Louisville & Jeffersonville Bridge 1st M— See thatCo
Cleveland Columbus Cincinnati & Indianapolis—Cleve land I ndiana
192 1893
Cleve Lorain & Wheel—Con mtge (now 1st) g.Usm.c*
192 1896
General mortgageSl ,000 000 gold redeem at 1 0 5.. N
192 1900
Consol ref mtge 510,000.000 gold red at 102>$-Ta.c*

Par
Value

1,000 &c

5450.onn
252,000
255,000
1.261,000
245,640
1,000.000
1.800.000
1,000,000
050,000
4.000.000
1,800 000
1.023,000
640,000
47,056,300
10,000,000
629,000
7 254,000
4,138.000
3,205,000
2,000,000
500,000
650,000
1,103.730
5,000,000
10,000,000
4,000,000
24.064,000
See text
5,000,000

50
1,000
1,000
1,000

428,097
2,571,000
1,500,000
3,000,000

51 ,o6o
1,000
1,000
1,000
50
1.000
100
500 &c
1,000
1,000
100
100
1,000
1,000 &c
1,000
1,000
1,000
1,000
1,000
500 &c
1,000
1,000 &c
1,000
1,000

polis St Louis & Chi
1,000
5,000,000
1,000
893,000
1 000 4.000,000

In 1901 lease was extended 60 years to Oct 12 1966; rental until Oct. 12
1906 was modified beginning July 12 1902 to 51,050,000 yearly, the remain
lng 550,000 per quarter to be deferred as It accrues and to be paid quarterly
at rate of 540,000 yearly, with Interest on deferred payments at 3 %; rental
under renewal to be 51,050,000 yearly for first 20 years, then 51,100,000 for
20 years; thereafter 51,200,000. V. 73, p. 722; V. 74, p. 1251. Pref. stock.
5% cum., has prior rights on dissolution, but no voting power. V. 74, p.
528, 829DIVIDEND.— On pref., 1 }£ %, paid quarterly Sept. 1 1902 to Dec, 1909,
both Inclusive. On common, 2% . paid Dec. 1 1903 out of accumulated
earnings to June 1903; Sept. 1 1904, 2% ; June 1905, 3% ; Deo,. 2% :
June 1906, 3% ; Dec., 2 H % ; 1907 to 1909, 5% (J.&D.). On April 1 1906
51.500.000 5% notes were Issued to pay for Improvements, payable 5150,000
semi-annually to April 1911 Inclusive. V. 83, p. 1225. In Nov. 1907
5500.000 3-year 6% notes were sold. V. 85, p. 1338.
STOCK.— Common, 83,000.000, controlled In Interest of Southern R y.
and Cincinnati Hamilton & Dayton R y. V. 61, p. 26; V. 65, p. 1173.
Stockholders In May 1908 subscribed for 5453,400 new preferred stock
at par. raising the amount outstanding to 52,453 500. V. 86. p. 1099. 14 ">
LATEST EARNINGS.— (1909___ Gross, 53,684,756; net, 51,357,954
5 mos., July 1 to Nov. 30.\l908----- Gross, 3.243,157; net, 1,056,262
ANNUAL REPO RT.— Report for yearending June 30 1909 was in V. 89,
p. 1340, showing; Gross, 57,826,982; net, 82,507,299; other Income, 5144,­
605; Interest, rentals, &c., 51,456,905; Improv’ts, 5678,475; dlv. on pref.
(5 % ), 5118,889; dlv. o.r com. (5 % ), 5150,000; bal., sur., 5247,635. In
1907-08, gross, 57,892,050; net, 51,631,578.—-(V. 89, p. 1347.)
CINCINNATI NORTHERN RR.— (See M a p Cleveland Cin. Chicago A St.
L ou is.) — Owns Franklin, O., to Jackson, Mich., 208 miles; trackage (C. C.
C. & St. L .), Franklin to Cincinnati, 38 miles; at Jackson, 1 mile. In 1909
Clev, Cin. Chic. & St. L. owned securities costing 51,094,892. V. 75, p.
454, 457. STOCK, 53,000,000. In year ending Dec. 31 1908, gross,
5980,925; net Inc., 5120,542; charges, 586,917; bal., sur., 533,625. For
11 mos. ending Nov. 30 1909, gross, 51,081,794, against 5892,990 In 1908;
net, 5248,766, against 5130,630. Pres., W. C. Brown.— (V. 81, p. 1314.)
CINCINNATI RICHMOND & FORT WAYNE RR.— Owns from Rich­
mond, Ind., to Adams, Ind., 86 m.; leases 5 m. of P. Ft. W. & C. Now op­
erated (Dec. 1909) by Grand Rapids & Indiana Ry. Rental, net earnings.
Int. is guaranteed by the Pennsylvania Co. and Pitts. Cln. Chic. & St. L. Co.
Jointly (the P. G. C. & St. L. taking the place of the Cln. Ham. & Dayton
In 1888). Stock, 52,186,600 (par 550.) of which Penn. Co. owned 51.257,­
900. Due guarantors Nov. 1 1909, 51,702,088.
Year end. D ec. 31.
dross.
N et.
Interest, A c .
Balance.
1908 ...............................5613,703
5114,999
5163,938
def.548,939
75,147
157,000
def. 81,853
1907 .............- ................ 657,913
CLEAR LAKE NORTHERN RY.— V. 88. p. 1001.
CLEARFIELD & A1AHONING RY.— (See M ap B uf. Roch. A P itts.)—
Owns road, completed in 1893, from Du Bols Jet., Pa., on Buf. R. & P., to
Clearfield on Beech Creek R R ., 26 miles. Leased during corporate existence
and renewals thereof to Buffalo Rochester & Pittsburgh—which see—at a
rental payable In gold and equal to 6% on 51,000.000 stock, par 550.and 5%
on bonds, the latter being guar., p. & I., by endorsement. In Nov. 1909
the authorized stock was Increased from 5750,000 to 51,000,000. V. 89,
p. 470, 1141.— (V. 89, p. 470, 1141.)
CLEVELAND AKRON & COLUMBUS RY.— (See M a p s of Pennsylvania
RR.)— Owns from Hudson, O., to Columbus, O., 144 miles; Dresden branch,
Kllbuck to Trlnway, 33 m.; Apple Creek branch, 9 m.; Howard coal branch,
4 m.; coal spurs, 3 m.; total owned, 193 m.; trackage, Trlnway to Zanesville,
17 m. Owns a fourth Interest In Akron & Barberton Belt R R ., 24 m.
V. 76, p. 435. Car trusts outstanding, 5671,765, due 582,092 yearly.
Penn. Co. took control June 1 1899, purchasing 52,237,500 of the 54,000,­
000 stock (par 5100). Dividends, 2% yearly. Sept. 1901 to Sept. 1905;
1906, 3% (M-S); 1907, Mch., 1M % ; Sept., 2% ; 1908, 4% (M-S); 1909,
4 % . Of 1st cons, gold 4s of 1940 (Commercial Trust Co. of Phila.,
trustee), 51,023,000 are guar., prln. & Int., by the Penn. Company, 51,800,­
000 are reserved to retire the gen. 5s due 1927; V. 71, p. 390; V. 76, p. 653;
V. 77, p. 1746, 2280. Report for 1907 In V. 87, p. 282. In 1908, gross,
51.830,762; net, 5535,045; oth. Inc., 551,384; chgs., 5240,752: dlv, (4 % ).
5160,000; add. & lmp’ts, 5140,081; bal., sur., 545,596.— (V. 87, p. 282.)
CLEVELAND CINCINNATI CHICAGO & ST. LOUIS RY.— (See M aps
N . Y. Central A II. R. R R .).— ROAD.— Radiates from Indianapolis, Ind.
westerly to Chicago, Peoria, Cairo, 111., St. Louis, easterly to Sandusky,
Cleveland, Columbus and Cincinnati, O., and southerly to Louisville.
Leased and Controlled—
Owned Directly—
Miles.
M tles.
Cleveland, O., to Columbus, 0 .-1 3 8 Cincinnati & Springfield R y____ 48
Gallon, O., to Indianapolis______ 203 Colum. Hope & Greensb’g R R ..
Jointly Operated—
Delaware to Springfield___________50
Cincinnati to Lafayette_________ 170 Ohio. Ind. & St. L. Short L in e.. 44
Trackage Into Cincinnati, &c._ 32
Indianapolis to Terre Haute______ 72
Harrison Branch_______
7 Trackage Into Jeffersonville____ 53
Leased— entire stock owned—
Trackage Into Toledo (V. 79, p.
Cincinnati Lafayette & Chic. R y . 57
1023, 2696)............................... 48
Cairo Vincennes & Chic. R y—
Cairo, 111., to Tilton & branch.261
Total Included In earnings— 1,982
St. L. Dlv., T. H. to E. St. L.100
Operated; earns, kept separate—
Columbus Springfield & Cln.—
Peoria & Eastern R y ___________*351
Columbus, O.. to Springfield.. 45 Cincinnati Northern___________*248
White Water— Harrison, Ind., to
Kankakee & Seneca R R ----------- 42
Hagerstown, Ind......................... 62 Mt. Gilead Short L ine................
2
Cln. Wabash & Michigan R y.—
*3
Loulsv. & Jeffersonv. Bridge__
Benton Harbor to RushvIUe and
________
_____________
branch ___________________ 249
Total
of system
June 30_____
’09..2.628
Other lines..................................... 59 Trackage 111. Cent. Into Chic. 1
Cincinnati Sandusky & Cleve. R y.— | On percentage basis_______ J
Sandusky, 0 .,to Day’n, O..&C.170 I Operates Independently—
---------IDayton & Union R R . (•)........... 47
•See this company.
IDouble track......... ................... 339




Amount
Outstanding

Rate
%

When
Payable

[VOL.

LXXXX

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

5
A & o To April 1911
6
.1 & D Dec 11910
4
M & S Mch '10-Mch ’ ll
4H g M & N May’ lO-May’ 16
5
Various To Oct 1910
4
J & .1 July l 1951
7 g J & D June 1 1021
6
J & J Jan 1 1910
5 g J & .1 Jan 1 1943
4 in 1909 M & S Sept 25 1909 2 %
5 g M & s Mch 1 1927
F & A Aug 1 1940
4g
F & A Aug 1 1940
4g
See text. M & S Mch 1 1010 2 %
5 In 1009
3— T Jan 20 1910 1M
6
M & N May 1 1920
4g
3— * Aug 1 1936
7 or 6 g J & I) June 1 1914
0 g J & J Jan 1 1034
7
Various July 1 1910
6 g M & N Nov 1 1912
4 g J & J July 1 1940
M & S Sept 1 1940
4g
4 g J & J Jan 1 1939
M & N Nov 1 1090
4g
4 g J & J July 1 1991
4 g J & D Juno 1 1993

Cincinnati. Ohio
Cincinnati, Ohio
Blair & Co New York
Equitable Trust Co N Y
New York
Guaranty Trust Co N Y
Winslow. Lanler&Co N Y
Checks mailed
36 Wall Street New York
Checks mailed
Winslow.Lanier & Co NY
do
do
do
J P Morgan & Co N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

5g

J

& D June 1 1911

6
5g
4g
4g

M
J
M
A

& N Nov 1 1909 3 %
do
& J Jan 1 1928
do
* N May 1 1953
Central Trust
& O Apr 1 1953
J P Morgan &

fc Clevcla
A & o
5g
5g J & D
4H g J & J

do

do
do
do
3o N Y
Co N Y

nd Cincinnati C hlcago & St Louis
2 Wall Street New York
Oct 1 1933
June 1 1936
do
do
Jan 1 1030
do
do

In Apr. 1909 a new double-track line from Evansville to Mt. Carmel,
Ind., 30 miles, was under construction. V. 83, p. 817, 1098.
HISTORY, &c.— A consolidation of the Cincinnati Indianapolis St. Louis
& Chicago Railway Co., the Cleveland Columbus Cincinnati & Indianapolis
Railway Co. and the Indianapolis & St. Louis Railway Co., made In July
1880, per plan In V. 48, p. 427. Of the com. stock, 530,207,700 was In Jan.
1909 owned by the L. S. & Mich. So. R y., a majority of the entire share
capital. V. 72. p. 86; V. 82, p. 749.
The company Is also one-fourth owner of Peoria & Pekin Union Ry.
(through the Peo. & East. R y .), one-fourteenth owner In Terminal R R .
Association of St. Louis, and two-fifths owner of Indlanap. Union R y., and
part owner of Cent. Indiana R y.. Cent. Union Depot & Ry. of Cincinnati,
Union Depot of Columbus, Dayton Union R y., Dayton & Union R R .. Muncle Belt Ry. and Findlay Belt Ry., which are operated Independently.
STOCK.— The stockholders voted June 21 1905 to Increase the common
stock from 528,700,000 to 540,000,000 and Oct. 31 1906 to 550,000,000.
In 1907 54,806,580 was subscribed for by stockholders at 90; 52,249,720
additional was sold to Jan. 1909. V. 83, p. 687, 1290; V. 84, p. 1247.
DIVIDENDS.— ) ’96. '97. '98. '99. '00. '01. '02 to '07. '08. '09. 1910.
Common........... % } 0 0
0
0
3 3M 4 yearly. 1
0 Mch., 2
Preferred.......... %J 5 2H 5
5
5
5 5 yearly. 5
5 Jan.,1 X
BONDS.—The sinking fund provision of the Cleveland Columbus Cincin­
nati A Indianapolis consol, bonds (stamped) has been canceled. The prin­
cipal of these bonds Is payable In gold, but the Interest Is payable at option
of holder, either In lawful money at 7% per annum or In British sterling at
6% . Of the Indianapolis A St. Louis 1st 7s, series " A ” are J. & J.; series
" B ,” M. & S.; series “ C,” M. & N.
St. Louts Division bonds, see deed of trust, V. 52, p. 42-45.
The 100-year mortgage of 1893 Is limited to 550,000,000. In Jan. 1909
522,194,000 gen. 4s were reserved for prior liens (exclusive of Cairo division.
Peoria Division, Michigan Division and the St. Louis Division west of Terre
Haute), and 53.748,000 for equipment, construction and betterments, &c.,
51.000. 000 yearly. See V. 78. p. 1446; V . 70. p. 733; V . 83, p . 379; V . 87
p. 1010. Guarantees Chic. Indian. & St. L. Short Line R y., Cent. Indiana
Ry. and Springfield Union Depot Co. bonds. V. 77, p. 510, 517, 769,
1363, 2280: V. 78, p. 1906, 1061; V. 79. p. 2589.
The stockholders Nov. 17 1909 authorized 520,000,000 bonds, of which
59.000. 000 to be probably Issued In the near future to provide for 55,000,000
notes due June 1 1910 and about 54,000,000 floating debt. V. 89, p. 720,
778, 1141.
Jointly with four other roads covenants to pay New York Central lines
530.000. 000 5% equip, trust of 1907, the company’s share of equipment
leased being 53,700,347. V. 85, p. 1401: V. 86, p. 168: V. 88, p. 761.
GENERAL FINANCES.— Guarantees Interest on Louisville & Jefferson­
ville Bridge bonds Jointly with the Ches. & O. V. 68, p. 822. Capital
stock per mile of road owned Dec. 31 1908. 133,260: bonded debt. 536,371.
On Mch. 1 dividends on the common stock will be resumed. V. 90, p. 108 _
EARNINGS.— 11 mos., (1909.......... Gross, 525,219,125; net, 57,386,299
Jan. 1 to Nov. 30.
(1908.......... Gross, 22,039,345; net, 5,592,731
REPORT.— Report for year ending Dec. 31 1908 In V. 86, p. 743, 765.
1908.
1907.
1906.
Miles operated........................................
1.982
1,982
1,983
Passenger earnings____ ____________ 56,908,326 57,127,049 56,963,864
Freight .........
15,711,941 17,238,347 15,683,733
Mall, express, &c.................................. 2,001,394
2,082,408
1,947,319
524,621,661 526,447,804 524,594.916
Total earnings.......
Operating expenses................................ 19,231,524 20,133,629 18,432,715
Net earnings...................................... 55,390,137 56,314,175 56,162,202
Total net Income____________________ 55,527,542 56,500,719 56,370,771
Interest on bonds, &c_______________
3,618,541
3,404,166
3,189,115
Taxes
...................
894,377
842,893
831,631
Rentals, &c.........................
305,845
280,442
285,293
Dividends on preferred, 5 % .....
500,000
500,000
490,925
Dividends on common .......................•
--------- (3)1,411,689(4)1,511,754
Balance, surplus_________________
5208,779
561,528
553.053
OFFICERS.— Pres., W. C. Brown, New York; Vice-Presidents, E. V. W.
Rosslter, John Carstensen, C. E. Schaff, A. H. Harris and C. F. Daly; Sec.,
Dwight VV. Pardee, New York; Trcas., Chas. F. Cox, New York; Auditor.
P. A. Hewitt, Cincinnati, Ohio.
Directors.— William K. Vanderbilt, Fred’ k W. Vanderbilt, Chauncey M.
Depew, J. Pleroont Morgan, H. McK. Twombly, William C. Brown, Geo. F. .
Baker, Wm. K. Vanderbilt Jr., Wm. Rockefeller, Wm. H. Newman, James
Stillman, Walter P. Bliss of New York, M. E. Ingalls, Cincinnati.— (V. 89.
p. 720, 778, 1141, 1270, 1347; V. 90, p. 108.)
CLEVELAND LORAIN & WHEELING R Y.— (See Map B. A O .)— Owns
from Lorain, O., to Bridgeport, O., opposite Wheeling. W. Va., 158 m.; Les­
ter to Cleveland, 28 m., and branch to Bellalre, O.. 6 m.; operates St.
Clalrsville & Northern, 3.33 m.; total, 195 m.; and has trackage into Wheel­
ing. V. 80, p. 1174.
HISTORY.— Operated by the Balt. & Ohio, which owns all of the stock
See that company and V. 72, p. 480; V. 73, p. 23(5; V. 86, p. 602.
STOCK.— Common, 58,000,000, and pref., non-cum., 5% , 55,000,000
par 5100. After 5% on each, both stocks share alike. V. 60, p. 1058.
DIVIDENDS.— On nref.. 1896. 3% : Dec. 1904, 2 ^ % ; 1905 to Anrll
1908, 5% ; none since to Oct. 1909. Dlv. on com., 2 j j % , Mch. 2 1908.
V. 86, p. 284.
BONDS.— Of the 510,000,000 consol refunding gold 4 ^ 8 , the remaining
56.000.
000 are reserved to retire old 5s. V. 70, p. 230, 480.
REPORT.— Report for year ending June 30 1008 was In V. 87. p. 1416-.
In 1908-09, gross, 53,796,182; net, 51,216,152; othcrlncomc, 54,038; chges.,
&c., 5506,168; balance, 5714,022.— (V. 87, p. 1416.)

Jan ., 1910.]

RAILWAY STOCKS AND BONDS,

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

R a te

%

When
Payable

43
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

Cleve& M V— Consm (now first) $3,000,000 g.Ce.c&r
125 1888 $1,000 tec $2,935,000
5g
See text Jan 1
1938 Winslow. I.an & Co N Y
Cleve & Mar— First mtge s t not drawn gold guar F.c*
103 1805
1,000
1.250.000
1935 Farmers L & Tr Co N Y
e M & N May 1
Cleve & Pittsburgh— Stock 7% guar by Penn RR Co
50 11,247,635
7
Q—
M
Deo
1
1909
1H Lan & Co N Y
Winslow,
Special betterment stock $10,738,135 guar 4 % ___
50
9,387,550
4
Q— M Deo 1
1009
1
%
do
do
Gen M $10,000,000 gold.-F l Series A & B _ _ ___ c*
202 1892
1,000
4.561.000
Jan-O ct1942
g
x
do
do
Guaranteed prln and IntfSerlesC & D ............c*
202 ’98-00
1,000
4.684.000
3H
g
1948-1950
do
do
(end) Penn R R --------- j Series B Int reduced . .
202 1892
1,000
439,000
3H g A X O Oct 11942
do
do
Cleveland Terminal & Valley— See Baltimore & Ohio
Coal & Coke— First mortgage $5,000 000 gold______
1,000
3,000,000
B
g
A & O Apr 1 1919
Elkins W Va or Balt
Coal & Iron— See Western Maryland
Coal River Ry— See Chesapeake & Ohio
Colebrookda e— lst M $593,400 und Read M o1 1897.c
13 1868
100 &c
600,000
6
& D June 1 1898
Reading Terminal, Phlla
Co o Midland— 1st M $10,000,000 (V. 71, p. 139).Cec*
1,000
201 1897
8.946.000 _ 4 g
& J July 1 1947
Central Trust Co N Y
Colorado & Southern— Common stock $31,000,000__
100 31,000.000 See text See text Deo 31 1909 2% Office, 26 Liberty. N Y
First preferred 4 % non-cumulatlve $8,500,000 . . . .
100
8.500.000 4 In 1909 A & O Oct 1 1909 2 %
do
do
Second preferred 4 % non-cumulatlve $8 50 0,00 0...
1882
100
8.500.000 4 In 1909
& O Oct 1 1909 2 Vi
do
do
First mortgage gold $19,853,000...................C ec*
1,000 19.402.000
1,059 1899
4 g
& A Feb 1 1929
do
do
Ref M $100,000,000 g red 101____ _____ Ce xc*r* Text 1005
100 &c 24.882.000
&
N
g
May 1 1935
do
do
Equip bonds ser A due s-a red 101 (V 8 4 p 50 7)..Q
1907
1,000
5
771.000
& O Apr ’ 10-Apr ’ 17 Guaranty Trust Co N Y
Col So IN0 & Pac— 1st M $12,000,000 gred 102J^._Cc
1,000 See text
1905
4 g M & N Nov 1 1925
New York
Equip tr notes due $80,000 s-a gu by St L & S F.Ba
1.000
1907
1,040 000
5
F & A Aug ’10-Feb ’ 17
Colo Sp & Crip Cr D Ry— 1st M $2,000,000 g s f..C e
1,000
1900
1.706.000
&
J
5
g
Jan
1
1930
Chem
Bk N Y; & Col Sp
First consol mortgage $3,600,000 gold______ G.c&r
1902
1,000
1.379.000
& O Oct 1 1942
Gu Tr N Y; & Col Sp
Colorado Texas & Alexico— First mtge $75,000,000
1,000 See text
1008
& J Jan 1 1958
New
York
Colum Newb & Laurens— 1st M $12,000 p erm __ SBa
1887
1,000
899.000
3g
& J July 1 1937
Safe Dep & Tr Co, Balt
Columbia Southern— First mtge gold $2,100,000__ 1\
1808
1,000
700.000
5g
& D Dec 1 1948
New York Trust Co N Y
Columbia A Greenville— See Southern Ry
Columbus & Toledo— See Hocking Valley Ry
Columbus & Xenia— Stock 8 % rental_______________
50
1,786,200 See text Q— M Dec 10 1909 2 % Treasurer, Columbus O
Combination Bridge (Sioux City la)— First mortgage
1895
500 &c
500.000
5
& J July 1 1915
Hanover Nat Bank N Y
Concord & Claremont (N H)— First mortgage_______c
1894
1,000
500.000
4«
& J Jan 1 1914
First Nat Bank Boston
Concord & Montreal— Stock Class I (B C & M p re f)..
100
800.000
7
Q—J Jan 1 1910 1 H Checks mailed
Stock Class II (B 0 & M new)...................................
100
540,400
7
Q—J Jan 1 1910 \H
do
Stock Class III (B C & M old stock)_______________
100
459,600
7
Q—J Jan 1 1910 1 *A
do
Stock Class IV (Concord) $6,000,000 auth (t e x t )...
100 a5,807,600
7
Jan 11910 1 M
Q -J
do
X Series “ A.” J&J; ” B.’ ’ A&O. y " C .” M&N: “ D.” F&A
a Also $250,000 additional about to be sold at auctl on In Jan. 1 910.
CLEVELAND & MAHONING VALLEY R Y .—Owns from Cleveland, O.,
to Sharon, Pa., 8t miles (57 double track); Niles, O., to New Lisbon, O.,
5J15} ,brancbes- 44 m- Leased to Nypano RR. (formerly N. Y. Penn. &
Ohio) till 1962: rental $525,967 per annum. Coupon Interest Is J. & J.,
registered Interest, Q.-J. Stock is $3,259,200, of which $3,258,250 Is held
by “ Atlantic First Leased Lines Rental Trust Co., Limited,” of London.
Dividends In 1897, 13 >4%: 1898 to 1904, both Inclusive. 13)4% yearly: In
1905, 11-42%: In 1906 to 1908, 11.40%.— (V. 63, p. 968.)
CLEVELAND & MARIETTA RY.— Owns from Marietta, O., to Canal
Dover, 103 miles, and branch, 7 miles, Zoar, O., to Canal Dover, leased.
StOck, $2,000,000, of which the Pennsylvania Co. Oct. 31 1909 owned
$1,791,900 (par $100); surplus earnings over charges go to C. & M. Divs.
pal,dJ P ,I ? 06
560,000; In 1907, 4% ; in 1908, 5%; in 1909, 0% .
BONDS.—Guaranteed prln. and Int. by Penn. Co.; sinking fund 1%
~ ’In 100s> STOSS, $937,983; net, $397,792; int. on bonds,
$56,250; improvem’ts, $179,275; oth. chgs., $11,114; dlvs. (5 % ), $100,000;
bal., sur., $51,153. In 1907, gross. $1,096,969; net, $338,787.— (V.88,p.52).
CLEVELAND & PITrSBURGH RR.— (Sec Map Pennsylvania Railroad.)
—Cleveland, O., to Rochester, Pa.. 124 miles; branches—Bayard, O., to
New Philadelphia, 31 m.; Yellow Creek to Bellalre, 43 m.; other 3 m.;
trackage. Rochester to Plttsb. (P. Ft. W. & Chic.), 26 m.; total, 227 miles.
LEASE.— Leased for 999 years Dec. 1 1871 to Penn. R R .C o., and lease
transferred to Pcnnsylvana Co. Rental, 7% on $11,261,865 stock. Interest
°.n
, a"d organization expenses. "Special guaranteed betterment
stock (subordinate to the original stock ns to dividends only), with dlvs.
?j-enA s
4% £uaranteed by the Penn. R R ., Is Issuable for Improvements,
V. 79. p. 2205, 2642; V. 83. p. 625; V. 85. p. 1082; V. 87, p. 812.
BONDS.— Generals are all equally secured; guaranty. V. 56, p. 604.
EARNINGS.— In 1908, gross earnings, $8,406,205: net, $2,867,424;
profit to lessee, $1.331,308.— (V. 87, p. 812; V. 89, p. 992.)
CLEVELAND SHORT LINE RY. — To be a belt line connecting eight rail­
roads bv tracks remote from the heart of Cleveland, O., starting at Lorain,
ab°i>t 22, mlles northwest of the city. Of this 10 miles to be completed In
i i 08- ,92st l.° be about $10,000,000. Stock, $3,750,000; par, $100. V
86, p. 167. Pres., W. C. Brown: V.-P., D. C. Moon.— (V. 88, p. 563.)
CLEVELAND TERA1INAL & VALLEY RR.— (See Map Baltimore
ii viiii ° w n sfrom Cleveland, O., to Valley Junction, 75 miles; branches,
11 miles: yard track and sidings, 89 miles.
TOmmon (par $50) B. * O. owns $4,594,300
and of the $2,060,750 preferred. $1,826,700; par, $100.
r».!iSjNI2SX-T h e lst M* bonds are guar., p. & L, by B. & O., endorsed,
uue u. & o . on general account June 30 1909, $1,176,056.
REPORT for year ending June 30 1908 was in V. 87, p. 1297. In 1908-09
gross, $1,056,488; net, $280,435; other Income, $31,702; int., &c., $245,237;
bal., sur., $66,900.— (V. 85, p. 1395; V. 87, p. 1297; V. 89, p. 1223.)
.C O A L & COKE RY.— Owns from Letter, W. Va., to Charleston, W. Va.,
166 miles; trackage, Lclter to Elkins, 7.6 m.; Morris Creek branch, 3 m .1
Mablc to Belllngton. 17.7 m.: branch from Middle Fork to Casslty Fork, 12 m.'
total, June 30 1909, 207 miles. Branch, Gassaway to Sutton, 7 m., com*
ploted Jan. 1910. About 100,000 acres of coal lands arc owned,
t „io „;
5t6.000.000. all outstanding; 5% pref., $10,000,000 author­
ized Oct. 1907, of which $8,881,800 Issued to purchase $6,300,000 bonds
a?ent of other debts; bonds reduced to $5,000,000. of which $2,­
-jo ° r!t^rca'^lry; V' 85, P' 1005. Mortgage covers road and coal lands.
v - ,78^,R- 47- Yar trl,sts June 30 1909, $461,173. due $55,000 yearly; loans
and bills payable, $1 ,2 :4,2 1 7 .
EARNINGS.— 5 mos., fl909...................Gross, $321,239; net,
S87 392
.July 1 .T
toO emv.
Nov. au.
30.
\
1 908...................Gross,
H908--------------Gross, 279,016;‘ op. def., 7R746
7
nn ycar e.nJ:i!PB June 30 1908 (184 miles) was In V. 83, p. 1400.
Ju.topttrbO’ gross, $63o,174 (excluding hire of equipment, $67,432); net,
* 13®’b82: net Income coal dept., $84,235; total net. $239,317; Int. on bonds,
$ 1 77,761; .other I n a n d taxes, $ 128,6 43; bal., def., $67,087. Pres., II. G.
DaJnn*K
.» W
’ c*
Hendley, Washington, D. C.— (V. 85,
p.
1 UU0,1 x?
V. n
00,
p. \Yn,V%Scc’
14UU.)
. COLEBROOKDALE RR,— Pottstown t0 Barto, Pa., 12.84 mlles. Leased
to Phlla. & Reading Ry. Common stock. $297,215; par, $50.
IPV,* £ ! R Y :— 0wns from Colorado Springs to New
S"J>vanii10C tunneL 227 miles; Jerome Park branch.
o 5 IVi
bTOncb. 10 miles; total owned, 261 miles. Leases New
Castle to Rifle Creek, 15 miles, and Rio Grande Junction R R ., Rifle Creek,
Col., to Grand Junction, 63 mlles: total owned and leased. 337 mlles.
ORGAN IZATION — Successor Oct. 1897 to the Colorado Midland Rail­
road, foreclosed and reorganized per plan In V. 64, p. 1224, 1226. In May
1900 a majority of the stock, If not the entire Issue, was purchased by a
syndicate In the Joint Interest of the Colorado & Southern and Denver &
Rio Grande. V. 70, p. 686, 791, 997, 1290; V. 71, d . 2 8 -V 73 n 1 1 1 1
Pref.. $6 000,000; common. $4,000,000.
' p'
EARNINGS.— 5 mos., 11909...............Gross, $1,122,729; net, $241,393
July 1 to Nov. 30.
(1908...............Gross, 1,034,464; net, 241,012
Surplus after charges, $14,359, agst. surplus of $37,658 In 1908
Year—
Gross.
Net.
Misc. Inc. Charges.
' Balance.
1908-09 ________ $2,312,590 $383,389
$59,054 $489,529 def $47,086
1907-08 .............
2,200,756 434,014
57,906
469,602 sur. 22,318
1906-07 ------------- 2,454,610 580,591
49,691
443,294 sur.l86|988
OFFICERS.— Pres., Daniel Willard; Vice-Pres., Clias. II. Schlacks;
Treas., Henry L. Hobbs; Sec., L. B. Johnson, New York.
Directors— George B. Harris, Daniel Willard, W. p. Clough, Edwin
Hawley, George J. Gould. Edwin Gould, Winslow S. Pierce, Harry Bronner,
L. T. Jeffery and Chas. II. Schlacks.— (V. 88, p. 504; V. 89, p. 778.)
COLO. & N. VV. RR.— Sec Denver Boulder & Western.
COLORADO & SOUTHERN RY.— (See M ap.)—Operates a system from
Orln Jet., Wyoming, through Colorado to Fort Worth, Tex., and by ex­
tensions built to 1906-07 reaches tidewater at Galveston, Tex., and also
Houston, Dallas and other points, viz.; ('which sec).




„ Bines Owned—
Miles.
Cheyenne to Orln Junction______154
Denver to Bessemer Jet., Colo__ 129
Denver to Leadv. (nar. gauge)..152
Como to Baldwin Mine (do ) _131
Trinidad, Col., to Tex. St. lin e ..135
Oth.lines,br.,&c.(103 nar. gauge)342
Trackage— Pueblo to Walsenb’g
(Denver & Rio Grande)............... 58
Cheyenne to Denver (Un. Pac.)-.107

Controlled—
Miles.
Denver & Interurban R R ______ 27
Colorado R R . (V.87.p.677)........... 42
l
Walsenburg & Western_________
Fort Worth & Denver City_____ *454
Col. Spr. & Crip. Cr. District____ *75
Wichita Valley________________ *113
Wichita Falls & Oklahoma_______ 23
Abilene & Northern______________ 38
Trinity & Brazos Valley______ *455b

T o t a l ...................................... 1,208
Total June 30 1909............... 62,435
b Includes 114 miles trackage.
Also owns half interest In Colorado Midland, operating 338 miles, and in
Trinity & Brazos Valley Ry. See those companies. The Stamford &
Northwestern R y., Stamford, Tex., northwesterly 82)4 m., was completed
Oct. 1909. V. 89, p. 1281.
—Succeeded on Jan. 11 1899, per plan In V. 67, p.
748, the Union Pacific Denver & Gulf and Denver Leadvllle & Gunnison,
in Dec. 1908 the Chicago Burlington & Quincy acquired $23,657,500 com.
stock (practically a controlling Interest) held Dy Edwin Hawley and asso­
ciates. V. 87, p. 1663. 1604: V. 88. p. 158, 685.
Owns a large majority of the com. stock of Fort Worth & Denver City
vrMi.I, 1 'clV cSk OH'1s„ a beneficial interest In one-half stock of Colorado
triii
73Y
voting trust terminated April 1 1905. Con?,fi1?,Vie^onDInte^urban i Electrlc> R y.. which owns 37 miles, operated
since July i 1908, and operates 24 miles of Col. & Sou., which has been elec­
trified under lease. V. 87, p. 950; V. 89, p. 934.
In 1905 control of Col. Spr. & Crip. Cr. Dlst. Ry. was acquired; also Trln.
* Y r,?n°J.Val-,v9eburne t0 Me*la. 'Lex.. 79 miles, with extensions building
and Wichita, Val. R y., Byers to Seymour, Tex., 75 miles. See "Bonds”
below and V. 80. p. 1423, 1856: V. 81. p. 1241; V. 82. p. 928; V. 83 p. 695.
D N ID E N D S.— lst pref. 1900, 2% ; 1901, 3 )4 % ; 1902, 3M % : 1903. 4% 1904, April, 2% ; 1905, none: 1906 to Oct 1909, 4% (A. & O.). On 2d
pref.. In 1907 to 1909 (A. & O.). On common, 2% Dec. 15 1908; Dec. 31
1909, 2% . V. 87, p. 1300; V. 88, p. 1499.
BONDS.— lst M., see V. 68, p. 1027; V. 77, p. 2158; V . 87. p. 414, 1160.
The $100,000,000 refunding bonds of 1905 were made Issuable as follows;
For refunding bonds and equipment obligations of system______$36,850,000
For betterments and Improvements, Including equipment, at the
cumulative yearly rate, beginning Jan. 1 1905, of $500 per
mile of operated and controlled lines_______________________ 15.000,000
For reimbursement of the treasury of the company, &o________ 2 ,600,000
For acquisition of additional property (Including proper provi­
sion for the cost of double-tracking parts of the main lines).. 45,650.000
Equipment bonds of 1997 mature $51,000 s-a to April 1 1914: ther<-;<U«-r
$52,000; V. 84, p. 507. Pullman Co. car trusts June 30 1909, $211,000
The refunding bonds are secured by a first Hen on all the bonds and prac­
tically all the stock of the cos. owning 526.30 mlles of road. Including the
Wichita Valley lines and the Trinity & Brazos Valley R y.; also by direct
lien, subjectto the first mortgage, on 1,058.66 miles of road owned by
the Colorado & Southern and on practically all the stock of subsidiary cos.
owning 546.8 mlles of road, making 1,605.46 additional miles on which
there are outstanding $30,962,000 underlying bonds; total thus covered,
2,131.76 miles, on which the total outstanding funded debt, including these
bonds and all prior liens, averaged In 1909 about $26,300 per mile
EARNINGS.— Including Ft. Worth & Den. City and all affiliated lines.5 Mos. end. Nov. 30.
Gross.
Net.
Chgs. (Net). Bal., Surp.
}909
....................... $7,235,937
$2,831,857 $1,126,695 $1,705,162
1008
....................... 6,679,047
2,431,305 1,118,186
1,313,119
REPORT.— Report for 1908-09 at length, showing operations of system
Including the Ft. Worth & Denver Cltv and Col. Spr. & Crlp.Cr. Dlst. R v.,
Denver & Interurban R R ., Colorado R R ., Ft. W. & Denv. Term. Ry. and
Wichita Valley lines.
In V. 89, p. 012, 933, 990.
,
1908-09.
1907-08.
Average miles...............................................................
1,980
1,932
Total operating revenues.....................
$15,080,412 $14,283,133
Operating expenses.................
10,225,687
9,542,809
Operating income (over taxes).................................. 4,453,683 4,338,688
Total net incomes....................... ............................... $4,920,385 $4,634,962
Interest on bonds, equipment obligations, &c_____ 2,721,526
2,521,630
Dividend on first preferred stock (4 % ).........
340,000
340,000
Dividend on second preferred stock (4 % )................
340,000
340,000
Dividend on common stock (2 % )...........................
620,000
__...........
Balance, surplus for year........................................
$898,859 $1,433,332
OFFICERS.— Chairman and President, George B. Harris; V .-P ., A. D.
Parker, Denver, Col.; Sec. and Treas., B. F. James, Denver, Col •Asst Sec
and Asst. Treas., .L E. Katzenbach, 26 Liberty St., N. Y. New directors
1909, V. 88, p. 563: V. 89, p. 1347.— (V. 89, p. 990, 1347, 1541.)
COLORADO SOUTHERN NEW ORLEANS & PACIFIC R R .— (See St. L.
&. S. b -M a p .)— Baton Rouge, La., to Houston. Tex., 303 m., with branches
Buna, Tex. Has trackage for 92 years from Baton Rouge to New Orleans,
78 miles, over La. Ry. & Nav. Co.’s lines. Line opened Sept. 1 1909.
V. 88, p. 1002. Extension was built from De Qulncey to Houston, Texas.,
137 m.. Including Kansas City Southern trackage between De Qulncey and
Beaumont, Texas, 47 m., and the Beaumont Sour Lake & Western R R .,
Beaumont to Sour Lake, 22 m., and the Orange & Northwestern R R ., New­
ton to Grange. Tex., 61 m., acquired. V. 87, p. 873; V. 88, p. 685.
The St. Louis & San Fran, owns all the stock and leases the road for 999
years, $8,500,000 of the bonds being deposited as security for $7,500,000
St. Louis & San Fran, notes. V. 82, p. 928. Bonds, see table above. V.
82, p. 509. 868. Equipment trust notes guar, by St. Louis & San Fran.,
V. 84, p.507. Old bond A companies acquired, for which St. Louis & San
Fran. gen. lien bonds of 1907 arc reserved, $461,000 Orange & Western lst
30-year 5s due Sept. 15 1933 and $267,567 Beaumont Sour Lake & Western
1st 6s due July 1 1935. Pres., A.J.Duvldson. St. Louis, Mo.— (V. 89. p.528.)

44

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

166
Concord & Mont— (Concl.)— B. C. A M Imp M ______ c
262
Concorn A Montreal cons M for $5,500,000--BB.c*
Debenture bonds $1,150,000 currency.............. . . c *
do
do
5500,000 Interest guaranteed
40 ki
Concord & Portsmouth— Stock 7 % rental 90 y rs___
Conn & Passumpsic— Pref stock 6 % rental 09 y rs-.c*
110
First mortgage 51,900,000 gold_________________ c*
37
Massawlppl stock guar same dlv as Conn & Passump
22
Newport & Rlchford 1st M guar by C A P ______c*
80
Connecticut River— Stock 53,670,300 authorized)___
Bonds not mortgage for 51,000,000 gold_________ c
Bonds not m o rtg a g e ______ _____ ________________
do
do
_______ _____________________
24
V Val 1st M with 5500,000 S Co RR stock as co ll-.c*
7
Conn (Phila)— Phlla C & Ch H 1st M guar by Penn .r
37
Conn Ry 3 ki % gold mortgage 55,000,000 _________
\0ki
Coopcrstown & Susq Vail— 1st M $200,000 Int guar..
Text
Conper Range — First, mortgage gold (see text). . —
Copper River & Northwestern— 1st M 550,000,000..S
26
Cornwall & Lebanon— Stock---------------------------26
First M extended at 4 % In 1906 (V 82 p 1322)----- r
Cripple Creek Central— Common stock-------------Preferred stock 4 % non-cum ulatlve.-.............
41
43
Cuba Eastern— First mortgage $1,000,000 gold.K .c*
Debentures ___________________________________ —
53
Northeastern Cuba 1st M 51,000,000 g go p A I— Cuba Eastern Terminals first mortgage guaranteed..
Eastern UR of Cuba Orst and refunding tntge gold.
Securities to be Issued by New Co. (Guantanamo & Wester
Common stock 52,750,000 auth----------------- ---------1st pf stock (also as to ass) 7% non-cum $2,750,000.
2d pf stock (also as to ass) 5% non-cum $250,000..
1st mortgage $600,000 gold-------------------------Cuba RR—Common stock 510,000,000. ----------Preferred stock 6% non-cumulatlve $10,000,000..
444
First mtge gold $20,000 per m ile --------- (i xe At*

1881
1890
07-99
1900
1893
1881
1893
1901
1903
1880
1883
1902
1888
1899
1909
1891
1895
1903

$1,000
1,000
1,000
1,000
100
100
1,000
100
1.000
100
1,000
1,000
1,000
1,000
1.000
1,000
100 &c
500 Ac
50
100 Ac
too
100
1,000
1,000

1905
1,000
1905
1,000
1907
n RR.) under P
1909
1902

100
100
1,000 Ac

COLORADO SPR I NOS & CRIPPLE CREEK DISTRICT R V.— Colorado
Springs to Cripple Creek. Col.. 46 m.; branch, Cameron to Victor, 5 rn ;
other branches and spurs. 24 m.: total, 75 m., of which 59 m. steam, 14 m
steam and electric and 2 m. purely electric. In Jan. 1905 Colorado A
Southern ac<i ulred all the stock except $900 com. V. 80, p. 472, 1111, 1423.
Stock, all outstanding, com., $1,200,000; pref., 5% , non-cum., $800,000.
Par of shares, sslnn each. Dividend 5% on preferred, paid Feb. 1907.
and June 1908. On com., 2% Sent. 1908. Sink, fund can retire first
mtge. bonds yearly at 110 for first 15 vears, then at 107 ki for 5 yrs., then 10a
for next 5 yrs., 102 ki for three years, thereafter at par. V. 76, p. 345.
EARNINGS.— 5 mos., 1 1909................Gross, $312,716; net, $116,995
July 1 to Nov. 30.
J1908_________ Gross, 341,905; net, 138,977
Pres., Frank Trumbull.— (V. 81, p. 725: V. 87. p. 740; V. 88, p. 822.)
COLUMBIA NEWBERRY & LAURENS R R — Columbia to Laurens.
S. C 75 m Stock. $500,000. Bonds were 6s. but re-issued as 3s In 1900,
Income certificates to amount of 40% of bonds being Issued.
EARNINGS.— 4 m os.,1 1909____________ Gross, $91,785; net, $15,720
July 1 to Oct. 31.
11008____________ Gross, 91,656; net, 22,046
Yea' ending June 30 1909, gross, $279,231; net, $53,860. In 1907-08,
gross, $28 2,581: net, $58,925; charges, $56,132; bal., sur., $2,793. Pres.,
W . G. Childs, Columbia, S. C.
COLUMBUS & SOUTHERN RY. -W yandotte, O., at a connection with
the Penn RR to South Rloomlugvlile. 34 miles. Stock authorized,
$2,000,000. Owned March 1908 by Geo. E. Wilber. Boston, Mass. For
year ending June 30 1909, gross, $12,483: net, $313.— (V. 83, p. 1290.)
COLUMBUS & XENIA RR.— Owns from Columbus. O., to Xenia, O.,
55 miles. Operated as a division of the Little Miami, and Is leased for 99
years from Dec. 1869, In connection with that road, to the Pittsburgh Cin­
cinnati Chicago A St. Louis, which pays 8% on stock. The lease Is guar­
anteed by Pennsylvania RR. Co. Dividends 2-5% per annum, from assets,
were discontinued In 1901.— (V. 72, p. 532.)
COMBINATION BRIDGE (SIOUX CITY, I A.) .— Owns steel bridge 1,940
feet long over Missouri River, with approaches, 1 mile, used by railroads
and street cars as a highway. Stock, $1,500,000. Mtge. trustee. Union
Trust Co., Indianapolis, Ind. Pres., Jos. C. Head, Latrobe, Pa.; .Sec., F.
L. Eaton, Sioux City, la .— (V. 78, p. 102, 286.)
CONCORD & MONTREAL RR.—From Nashua. N. H.. via Concord.
Plymouth, &c., to Groveton and the White Mountains, 450 miles In all,
Including Manchester A Keene, 30 m.; owned jointly, 414 m.; 35 m. double
track. Owns Concord Street Ry.. It m.; also electric branch from Concord
to Manchester, N. H , 17 miles, and Nashua A Acton R R .. 20 miles.
On June 29 1895 leased to Boston A Maine for 91 years at rental of 7%
per annum on all stock. The stockholders on Oct. 13 1909 authorized the
Issue of $250,000 additional stock to develop water power to be sold at
auction about Jan. 1910. V. 89, p. 992; V. 90, p. 54.— (V. 90, p. 54.)
CONCORD & PORTSMOUTH RR.—Owns Portsmouth, N. II., to Man­
chester. N. H.,40>$ m. Leased to Concord RR. in 1862 for 99 years; rental,
$25,000; 7% on stock and org. exp. Operated by Boston A Maine.
CONNECTICUT & PASSUMPSIC RIVERS RR.—White River Jet., Vt.
to Canada Line, 110 m.; leases 999 years Massawlppl Valley, 37 miles.
LEASE.— From Jan. 1 1887, leased to the Boston A Lowell for 99 years
on a basis to pay C. & P. stock 5% till Jan. 1897 and 6% thereafter.
SECURITIES.— Massawlppl stock receives same dividends as stock of
lessee and $400,000 of It (not Included In the amount outstanding) Is pledged
as part security for 4s of 1893. Of the $2,500,000 pref., $500,000, as also
$50,000 Massawlppl Valley Ry. stock, arc represented by Connecticut Trust
A Safe Deposit Co. of Hartford 5% trust certificates, under which the Ver­
mont Valley has the right, for 45 years from Aug. 1 1885, to purchase the
trust stock at par and Interest and In the meantime receives all dividends
above 5% per annum on the stock deposited In trust.— (V. 57, p. 1040.)
CONNECTICUT RIVER RR.—Owns from Springfield, Mass., to Keene,
N. H., 74 m.; Bellows Falls to Brattleboro, V t., 24 m.; branches, 6 m.; total,
104 m., of which 50 double-tracked. Controls Sullivan Co. R R .. Bellows
Falls to Windsor. Vt., 26 miles. V. 80. p. 1478; V. 81, p. 899, 1723.
LEASE.— Leased for 99 years from Jan. 1 1893 to the Boston A Maine,
annual rental (as amended Oct. 10 1895) being 10% per annum on capital
stock, payable directly to stockholders; also Interest on bonds and scrip and
$2,000 for organization expenses. Lessee pays all taxes, operating ex­
penses. Ac., but lessor to Issue Its stock or bonds for permanent Improve­
ments.—(V. 81, p. 899, 974, 1723: V. 83, p. 625; V. 87, p. 414.)
CONNECTING RY. (PHILADELPHIA).— Owns from Girard Ave. to
Frankfort Jet., Pa.. 6 m.; North Phlla. to Chestnut Hill, 7 m.; branches,
Ac., 23 m.: total, 36 m. V. 73. p. 390. Stock authorized, $5,800,000; out­
standing, $3,613,650; all owned by Pennsylvania R R ., which operates
road under lease terminating Feb. 28 2802. Dividends 4% yearly (J.A D.)
— (V. 75, p 1354.)
COOPER8TOWN & CHARLOTTE VALLEY RR.— (.See Map Del. A
Hud.).—Owns Charlotte Crossing to Davenport Centre, 4.51 m .; leases for
99 years from Jan. 1 1889, Coopcrstown A Susq. Valley R R ., Coopcrstown
to Charlotte Crossing, with branch to Cooperstown Jet., 19.48 m ., guaran­
teeing Interest on latter’s $200,000 5% bonds. Stock, $45,000, acquired
July 1903 by Del. & Hud. — (V. 77, p. 88.)
COPPER RANGE R R .—Calumet, Mich., to Mass City, with branches;
total, 82 m.: sidetracks. 33 m. Stock, $4,003,700, of which $1,398,600
owned by Copper Range Consolidated (Mining) Co. Bonds limited to
$20,000 per mile of main line and branches and $15,000 per mile of sidings
Of the $2,025,000 bonds outstanding, $615,000 were In Jan. 1909 held In
the treasury of the Copper Range Consolidated Co. V. 78, p. 228.
EARNINGS.— 5 mos.,1 1 009-.................Gross, $341,152; net, $174,238
July 1 to Nov. 30.
(1908.................. Gross, 354,121; net,
93,178
Year ending June 30 1909, gross, $766,020; net, $224,007. In 1907-08,
gross, $807,322; net, $204 ,0 12; Int., $ 1 19,850; bal., sur., $54,192. Pres.,
William A. Paine; Sec. and Treas., Fred. Stanwood, Boston.— (V. 78,p.228)
COPPER RIVER & NORTHWESTERN RR.— Projected from Cordova,
Alaska, on tidewater, through the Copper River Valley to Copperllclds near




■
Amount
Outstanding

Par
Value

Rate
%

When
Payable

[ VOL. L X X X X .
Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

6
•T A J Jan 1 1911
$500,000
4
5,000,000
.1 & D June 1 1920
A 4 J A D June 1 1920
1,050 000 3
473,000
Ski .1 A 1) June 1 1920
350,000
7
J A J Jan 1910 aki %
2,500,000
6
F A A Feb 1 1910 3??
1,900,000
A A O Apr 1 1943
4g
6
400,000
F A A Feb 1910 3%
350,000
5
.1 A .1 Jan 1 1911
10
3,233,300
J A J Jan 1 1910 5 *
1,000,000
M A S Sept 1 1943
4g
200,000
Ski J A J Jan 1 1921
969,000
Ski J A J Jan 1 1923
800 ,000
5
A A () Oct 1 1910
1,000,000
4ki M A N May 1 1913
1,109,000
Ski g M 15 A S Men 15 1032
200 000
5
M A N May 1 1918
2.025,000
5 g A A O Oct 1 1949
5
800 ,000 8 in 1909 Seml-an July31 19095 y,
764,900
4
A A O Apr 1 1921
2,500 ,000 See text Q — J 25 Oct 21 1907 1 h
3.000,000 4 In 1909 Ouar. Dec 1 1909 1
395.000
5 £
J A D Dec 1 1925
648 .000
M A S Mch 1 1933
0 g
221,000
1,340.000
5 g M A s Mch 1 1955
74,000
6
F A A Feb 1 1925
2,859,000
Mch 1 1957
f> g
lan—
2,013,500
2 ifl13^500
110,500
600,000
20 years
8g
o.i p.fi.nnn
10,000,000 See text See text Feb 1 ’ 10. 1 ki%
J
July 1 1952
8,800,000j
5g J A

Fanetill Hall Bk Boston
Safe Dep A Tr Co Boston
Boston S D A Tr Boston
do
do
Manchester N II
Safe Dep A Tr Co Boston
do
do
do
do
do
do
Boston. Mass
do
do
do
Safe Dep A Tr Co Boston
Broad St Station Phlla
do
do
Nat Bk Cooperst’n N Y
Boston, Mass
Co’s Office, Lebanon Pa
do
do
Checks mailed
do
Farmers L A Tr Co N Y
In default
do
do

do
do

Guaranty Trust Co, N Y

the Chltina River and the Behring Lake Coal fields, Ac. Of this. 102 miles
of track had been opened In Dec. 1909 and a total of 200 miles was ex­
pected to be In operation by Dec. 1910. A 58-mlle branch Is also to
be built In 1910 to Katalla and the coal fields. Understood to be controlled
by J. P. Morgan & Co. and the Amer. Smelting A Refining Co. Interests.
Stock authorized, $5,000,000; par of shares, $100. In Aug. 1009 filed a
mtge. to secure an Issue of $50,000,000 5% 50-year bonds. V. 89, p. 410.
Pres., S. W. Eccles; VIee-Pres., W. P. Hamilton; Sec., W . E. Bennett.
Office, 165 Broadway.— (V. 89, p. 410, 1482.)
CORNWALL & LEBANON RR.—Owns Lebanon. Pa., to Conewago,
21.66 m.; branches,4.78 m. In 1901 the Pennsylvania Steel Co. acquired
$5 10,000 stock: remainder mostly owned bv Lackawanna Steel Co.
DIV) To 1893. ’ 94. ’95. ’96. '97. ’ 98. ’ 99. ’ 00. ’ 01. ’ 02 to ’ 06. ’ 07 ’ 08. 1009.
P.O.J4-4H y’ly 2
4
4
3
4 4H 5 5 ki
6 y’ly
8 7
8
In 1908-09, gross, $329,913; net, $99,727; other Income, $25,623;
charges, $42,517; dlv. (8% ), $64,000; bal.. sur., $18,833.— (V. 89, p. 224.)
‘‘ COTTON BELT.” —Common name for St. Louis Southwestern Ry.
CRIPPLE CREEK CENTRAL RY.— Divide, Col., to Cripple Creek and
Florence, Ac.. 76 m.; Victor to Vista Grand. 6 m.; branches and spurs to
mines, Ac., 45 m.; total, 127 m ., of which 47 m. standard gauge. Controls
Midland Terminal R y.. Florence & Cripple Creek R R ., Golden Circle RR .
Canon City A Cripple Creek R R ., Colorado Trading & Transfer Co. See
V. 69, p. 851, 1011, 1103; V. 72, p. 984; V. 74, p. 880: V. 77. p. 1542.
Reorganization, per plan In V. 78, p. 2018; V. 77, p. 1542, of the Denver
& Southwestern, foreclosed Oct. 4 1904. V. 79. p. 1461.
STOCKS AND BONDS.—Com. stock. $2,500,000: 4% non-cum. pref.
stock. $3,000,000; par of shares, $100. V. 82. p. 1156; V. 85. p. 1209.
DIVIDENDS.— On pref., 3% paid July 20 1905; Oct. 25 1905, 1%
(ouar.): Jan. 1906 to Oct. 1907, 4% yearly (1% Q.-J.>: 1908, Sept. 1. 3%
for 9 mos. ending June 30 1908; Dec., 1% ; 1909, 4% (1% Q.-M.). On
com., Oct. 25 1905, 3% : In 1906, 7 k i% . Incl. 2% extra; 1907, 6% (Q -J.);
none since to Jan. 1910.
REPORT.— Report for year ending June 30 1909 was in V. 89, p. 1409,
showing gross earnings of roads controlled, $730,991; net Income of roads
over charges, $86,018; total net Income of parent co. above all expenses,
$181,709; dlv. on pref. stock (6 % ), $180,000; total surplus June 30 1909,
lncl. $170,905 surplus of previous years, $172,615. Pres., Henry M.
Blackmcr; V.-P., Lorenzo Semple; Sec. A Treas., John Gorlow. Office,
111 Broadway, N. Y. Directors, V. 79, p. 1461; V. 82, p. 1156— (V. 87.
p. 1532; V. 89. p. 847, 1409.)
CUBA EASTERN RR.— Owns from port of Bogucron at Granadlllo Bay,
on south coast of Cuba, northwest via Guantanamo to forest lands owned by
the Cuba Hardwood Co., 43 miles; leases for 99 years Northeastern Cuba
R R . from San Pre to San Luis, 47 miles, with 6 miles of branches. Pro­
jected to NIpe Bay and Manzanillo. Sold In foreclosure to reorganization
committee Aug. 1909 under first and refunding 6s of 1907. V. 89, p. 285,
666. The Guantanamo & Western R R . was Incorporated as successor in
Oct. 1909. V. 89, p. 1068.
, ,
_
Bondholders' Committee.— BenJ. P. Cheney, Chairman; P. Chauncey
Anderson, 25 Broad St., N. Y ., Sec.; New York Trust Co., N. Y ., and Old
Colony Tr. Co., Boston, depositaries. V. 86, p. 420, 337, 1409; V . 88,p.294.
PLAN.— The plan of reorganization declared operative early In 1909
(V. 88. p. 294) provides for a merger of the allied companies with new cap­
italization as shown In the table above and, If desired, a voting trust to
hold the new stock for not to exceed 5 years. The $600,000 bonds are to
be offered at 85% with a bonus of 25% each In first pref .and common stock,
to provide for floating debt, reorganization expenses, 3 years Int. on the
bonds. Improvements, rolling stock and working capital. I he Knicker­
bocker Trust Co. of N. Y . has underwritten $250,000 bonds on condition
that at least $200,000 additional are disposed of.
_______ _
The old mtge. bonds are to receive 50% each In 1st pref. and common
stock and the Cuba Eastern debentures 50% In 2d pref. stock, lhere will
be left In the treasury about $136,500 of each class of stock.
Pres., Edgar Van Etten. Office, 66 B'way, N. Y .— (V. 89, p. 1008.)
CUBA RR.—Owns from Santa Clara, Cuba, to Santiago de Cuba, 356
miles; branches, Zaza Jet. to Sanctl Splrltus, 8 miles: Alto ( <’dro to the Bay
of NIpe, 31 m.; Ponupo branch, 11 m.; Jatlbonlcobranchi.oki m.: Holguin
branch, 11 m.; Tana branch, 8 m.: Bayamo branch, 13 m.; total, 444
miles. See V. 75. n. 1157, 1347. Extension p r o p o s e d from Santa Clara
to Havana, 170 m. V. 82, p. 1322. Govt, loan, $478,790 June30 1000; any
balance not repaid by Govt, transportation service to be paid Dec. lo 1910
without Int. V. 83, p. 1093; V. 88, p. 944.
_ , ,
„ .
First fliv. on pref., 1 !^%, paid Aug. 2 1909; 1010, Feb., 1 ki% , Bonds,
application to list, V. 86, p. 924; V. 88, p. 451; V. 89, p. 162.
EARNINGS.— For 5 months ending Noy. 30;
5 Months—
Cross.
Net.
Charges.
Balance
1909........ ............................. $807,683
$252,084
$178,544
?73.*>40
1908_____________________ 673,261
248,429
161,771
86,658
REPORT for year ending June 30 1909 was In V. 89 p. 664. showing,
gross earnings, $2,157,165- net over taxes, $950,089; Interest on bonds, Ac.,
$399,201; bal.. sur., $550,798. In 1907-08. gross. $2,039,468.
Pres., Sir William C. Van Horne; Sec., Herbert C. Lakln: Treas., Stephen
H. Voorhees. Office, 83 Montgomery St., Jersey City, N. J .: 1J0 Broad­
way, New York.— (V. 88, p. 1619; V. 89, p. 162, 664; V. 90, p. 166 )
CUMBERLAND CORPORATION —ORGANIZATION.— A ho 1d 1ng com
pany owning the stock ($10,000,000) of the Cllnchfleld Coal Corporation
(V. 80. p. 2346, 2222, 2241, which owns 285,000 acres of coal lands In Vlr£lnla. stock of the Carolina Cllnchfleld & Ohio R y. and a block of the ocaboard Co. stock (see the two companies last named In this section )
•Stock, common, $25,000,0 U); 6%, pref., $15,000,000. all paid In
In
Job i 006 sold *15.000 nro notes secured by stock of the Carolina Cllnchfleld
6 Ohio and Seaboard Co. (see table above).— (V. 88, p. 944.)
CUMBER L 4 NI) A PENNSYLVANIA R R .—Owns from Cumberland.
Md.. to Piedmont, W Va , anti several branches, 57 miles. Owned and op­
erated by Consolidation Coal Co., which guarantees by endorsement the
first mortgage.
V 52. p 390
Stock, $1,500,000: par $100. On Dec. 1
1907 purchased 1,523 cars from the Somerset and Fairmont coal companies.




46

RAILWAY STOCKS AND BONDS,

RAILROAD COMPANIES
[For abbreviations, & c., see notes on first page]

Miles Date
Road Bonds

Cumberland Corporation— Coll trust gold notes--------Cumberland & Pennsylvania— First mtge gold guar..
57
Somerset Coal car tr assum $76,000 yrly.........-FBn
Dayton Leb & Cin RR A Term— First M g'red (te x t)..
29
Dayton & Michigan— Com stock (3)4 % guar C H AD)
Preferred (8 % guaranteed C H A D) endorsed........
First mortgage guar p A 1endorsed by C H A D . . . c
142
Dayton Union Ry— First mtge sink fund call at par.F
Delaware— Stock---------------------------- ----------------------249
General mortgage gold...................................... F P c*
113
54
Delaware A Chesapeake 1st M assumed currency, .c
Delaware & Bound Brook— Stock 8 % gu Phlla A Read
First mortgage $1,800,000 guaranteed............P e P
34
Delaware & Eastern— 1st M gred 1 0 5 ___________ xc*
Delaware & Hudson— Stock- $55,711,500 (text)____
First M on Pennsylvania Dlv ($10,00(),000).Un.cAr
14
Schenectady & Duanesburg first m ortgage.______
57
Adirondack 1st M gold guar p & 1 e n d __ Us.c*Ar
IstAref M $50,000 000 g sf red 107 beg’ 18.xc*Ar»
Debentures $14,000,000 gold conv (see te xt)..c* A r
_
Equipment deb $2,500,000 $200,000 annually Jan 1
, Equip 1st lien bonds $10.000,000 g s f__ Usm,xc*Ar
Guaranteed Securities—
Hudson Coal Co deb guar p A 1 end part due yearly
__
Bluff Point Land Improvement Co 1st M g gu----- c*
Chat Ore & I refunding mortgage call 105----- N c*A
Albany A Susquehanna R R , N Y & Canada R R , Oh ateaug
Delaware Lackawanna & Western— Stock $30,277,000
39
Delaware Maryland & Virginia— June A B— 1st mtge
19
Break A Frank 1st M to State red since Jan 1895..
Del River RR & Bridge— 1st M gold gu p A 1 ... GP.c*
Denv Boulder & West— Inc 1st M $800,000 au red par
Denver Lar & Northw— 1st M g red 102 beg July ’ 10.c*
Denver Northw & Pac— 1st M $22,500,000 g— Mc.c*
Continental Tunnel 1st M 55.non ,000 gold guar pAI
Northw Term 1st M $3,000,000 g gu red te x t..M e

10
__
__
210
6

Preferred'stock 5% non-cumulatlve $50,000,000.Tr
First & ref M $150,000,000 gold red text.-Baxc*Ar* 2.529

1906
1891
1906
1907
1871
1871
1881
1899
1892
1882
1905
1907
1877
1874
1892
1908
1900
1900
1907

Par
Value

When
Payable

Rate

%

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

$15,000,000
5 g J A D15 June 1 1912
M A N May 1 1921
$1 ,000
1,000,000
5g
5
1,000
684,000
J & 1) Dec 1910-1018
1,000 See text
5 g 4 A 1) June 1 1922
50
2,401,950
3)4 A A O Oct 1 1009 1 fa
50
1,211,250
8
Q—J Jan 1 1910 251
2,728,000
5
1,000
J A J Jan 1 1911
1,000
450,000
4 g .1 A J July 1 1949
25 See text. 8 In 1909 J A J Jan 3 1910 4 J,
1,000
500,000
4)4 g J A J July 1 1932
1,000
400,000
4
F A A Feb 1 1912
100
1,800,000
8
J— P Feb 20 1910 2 5s
1 ,800,000
1,000
3'A g F A A Aug 1 1955
500 Ac
4 570,000
5 ft J A J July 1 1957
100 42,501,000 9 In 1910 CJ— Mch Mch 21 1910 2 y,
1,000 &c
M A S Sept 1 1917
5,000,000
7
100 Ac
500,000
M A s Sept 1 1024
6g
1.000
1.000,000
4)4 g M A s Mch 1 1942
1,000 Ac 20,704,000
M A N May 1 1943
4g
1,000 13.977.000
4 g J [5 A D June 15 1916
10,000
700 ,000
4 g J A J 1911 to 1914
1.000 10.000,000
4A g J A J July 1 1922

’01-02
1,000
1,700,000
I860
1,000
300,000
1902
1,000
1 ,300 ,000
ay & 1. ake Placl d R R . Utlc
50 30,277,000
1860
All
185,000
1874
All
200,000
650 ,000
1896
1.000
1 .300.000
1909
100 Ac See text
1909
1,000 See text
1002
1,uuu sec text
100 Ac See text
2,025,000
100 38,000.000
100 45>79!800
mos S A mks 27,511,000

assuming the car trusts Issued thereon, viz., $836,000 of Somerset Co. (see
table above) and $45,000 additional, which matured In series to May 1909.
V. 85, p. 1401. For year ending June 30 1909, gross, $770,689, against
$952,653 In 1907-08; net, $195,906, against $425,015; taxes In 1908-09,
$30,849.— (V. 85, p. 1401.)
CUMBERLAND VALLEY RR.— See Pennsylvania R R .
DALLAS CLEBURNE & SOUTHWESTERN RY.— Owns Egan, on Mo.
Kan. & Tex. R R ., to Cleburne. 10 m. Leased to Mo. Kan. & Tex. Ry. V.
76, p.48. Bonds auth., $150,000 1st mtge. 30-year gold 5s, due Jan. 1 1933;
V 8.3. p. 213. Pres., B. P. McDonald. Cleburne. Tex.— (V. 83, p. 213.)
DAYTON LEBANON & CINCINNATI RR. & TERMINAL CO.— See p.172
DAYTON & AIICHIQAN RR.— Owns Dayton, O.. to Toledo June., O.,
141.82 m.; trackage Into Toledo, 0.92 m. Leased May 1 1863 In perpetuity,
to CIn. Ham. & Dayton. Lease modified June 23 1870. Rentar Is mainte­
nance of organization, nt. on bonds and 8% on pref. stock and 3)4% on
com. Guaranty on pref. Is secured by mtge. of 1871, but the pref. carries
no voting power. V. 56, p. 813. Mtge of 1856 Is held alive under mtge. of
1881, C. H. A D. reserved notea of 1908 to retire bonds.— (V. 88, p. 563.)
DAYTON & UNION RR.— Owns from Dodson. O., to Union City, Ind..
32 miles; leases Dayton to Dodson, 15 miles; total operated, 47 miles.
The Cleve. CIn. Chic. A St. Louis and CIn. Ham. & Dayton jointly own the
$86,300 stock. The $225,000 7% bonds were paid oil at maturity Dec. 1
1909 from proceeds of sinking fund. V. 89, p. 1347. Year ending June 30
1909, gross, $161,793; net, $18,706; other income, $10,203; charges,
$36,405; bal., det., $7,496.— (V. 89, p. 1347.)
DAYTON UNION RY.— Union depot at Dayton, O. Used by Pitts.
CIn. Chic. & St. L., Clev. CIn. Chic. & St. L., CIn. Ham. & Dayton, Dayton
A Union R R . and Erie R R ., under lease which provides that Interest on
bonds and other expenses be divided between them on train basis. Stock,
$321,000. all com
Pres., W . C. Brown, New York; Sec., W. F. Stark,
Dayton, O. Office. Cincinnati, O.— (V. 73, p. 1312.)
DELAWARE RR.— (See Maps Pennsylvania RR.)— Shellpot Crossing,
Del. to Delmar, Md., 95.20 miles; branches, Centreville, Md., to Townsend,
Del., 34.99 m.; Clayton, Del., to Oxford, Md., 54.27 m.; Seaford, Del., to
Cambridge. Md., 32.06 m.; Masseys, Del., to Chestertown, Md., 20.52 m.;
other branches. 10.98 m.; total, 248.02 miles. V. 67, p. 1356.
Leased till May 1 1927 to the Philadelphia Baltimore & Washington,
which owns $1,664,475 of the stock: rental net earnings—see V.64, p. 1000.
The stockholders will vote shortly on making a long lease to the Phlla.
Balt. A Wash, and Increasing the stock (now $2,987,225), a stock dividend
of 70% to be paid and an additional 20% cash dividend. V. 90, p. 167.
DIvs. 1898 to July 1906, 6% yearly; 1907, 8% ; 1908, 8% ; 1909, 8% ; 1910,
Jan., 4 % . In year ending Oct. 31 1909, gross, $2,932,253; net, $670,563;
other Inc., $43,501; int., rentals, &c., $223,232; dlvs. (8%) $238,978; extraord. exp. fund, $200,000; bal., sur., $51,854.— (V. 89, p. 166.)
DELAWARE & BOUND BROOK RR.— Owns from Bound Brook (Cen­
tral of N. J.) to Delaware River, 27.02 miles; branch to Trenton, 3.74 m.;
second track, 27.02 m.; third track, 9.02 m.; all track, 87.36 m. In May
1879 leased for 990 years to Phlla. A Reading R R . Rental, $213,000, pay­
ing Int. and 8% on stock: lease assumed by P. A R. Ry.— (V. 81, p. 210.)
DELAWARE & EASTERN.— See page 172.
DELAWARE & HUDSON CO.— (See M ap.)— Operates railroad lines
from WUkcsbarre, Pa., via Albany, N. Y ., to Rouse’s Point, on Canada
line, with branches. 845 miles In all. V. 68. p. 871.
Lines owned—
Miles. | Lines leased— 'See these cos. Miles
Lackawanna A Susquehanna------2 2 1‘ Albany & Susquehanna_________ 142
Valley RR. of Pa...........................17 |‘ Rensselaer A Saratoga................ -.192
Honesdale Branch.........................27 |‘ Chateaugay A Lake Placid R R . 80
Schenectady & Mechanlcvllle____10|‘ Unlon R R ....................................
22
Cherry Val. Sharon A A lban y.. 21 |*JefIerson RR. (trackage)_______ 35
New York & Canada.....................150 1Other lines................................... .. 50
•Schenectady A Duanesburg------14 |
Adirondack R y ............................ .. 57 |
•Cooperstown A Charlotte Valley 4 |
—
2 I Total operated Jan. 1 1909 — 845
Branches and spurs____________
Also leases Utica Clinton & Binghamton and Rome A Clinton R R ., 44
miles, sub-let to N. Y. Ontario A Western. The company owns the Quebec
Montreal & Southern R y ., which extends from St. Lambert, opposite
Montreal, through Sorel to Plerrevllle, and from Novan Junction to St.
Roberts Junction on the aforesaid line, a total of 144 miles; an extension
from Plerrevllle to St. Phllomene, 48 m., was completed In June 1909.
The line will be ultimately continued to Levis, connecting with the Quebec
Bridge at Chaudlere Jet., a total distance of 50 or 52 m. V. 81, p. 1610;
V. 83, p. 379; V. 84, p. 338, 623. On May 23 1908 the New York & Canada
R R . was merged, ana In July 1908 the Cherry Valley Sharon A Albany R R .
In Feb. 1905 a half Interest In the stock of the Schenectady Ry., 116 miles
was purchased. V. 82, p. 687. Owns $12,499,600 of the $12,500,000
stock of the United Tract. Co. of Albany, which In Dec. 1906 acquired most
of the stock and bonds of the Hudson Valley (Electric) R y. V. 81, p
1550. 1610; V. 84. p. 51.
HISTORY, &c.—This company was chartered April 23 1823. It Is one
of the largest miners of anthracite coal. The Hudson Coal Co., whose
stock Is owned, controls coal lands having In 1908 an estimated tonnaw'
of mlnable coal of 423,265,353, and In June 1909 agreed to purchase the
entire present and future coal output of D. & H. V. 86, p.913; V. 88, p.1499.
DIVIDENDS— ) ’87. ’88. ’89 t o ’96. ’97 t o ’00. 01 t o ’06. ’07. t o ’ 10.
Since 1886.........% / 5
6
7 yearly. 5 yearly. 7 yearly.
9 yearly.
Dividends In 1910 fixed at 9% , payable quarterly. V. 90, p. 54.
STOCK, ETC.— In 1900 $200,000 stock was retired by sinking fund,
$147,500 in 1901, $138,600 In 1902, $100,000 In 1903, $417,100 In 1904,
$50,000 In 1905, $228,500 In 1906. None since to Oct. 1909. Compare
V. 68, p. 926, 1180.
Stockholders May 9 1905 authorized Increase of $5,000,000 stock for con
version, at option of holders, to April 1 1916, of $10,900,000 Albany A Susq.
3 H % bonds, dated April 1 1906, on the basis of $500 stock for $1,000 of




Amount
Outstanding

[ VOL. L X X X X .

4g
4 g
4g
a Clinton
20 In ’08
3
3
4
4g
TO 5%
6g
4g
« g
5g

New York Tr. Co., N. Y .
Guaranty Trust Co, N Y
Fidelity Trust Co, Balt
Cleveland O
Cincinnati
do
J P Morgan A Co N Y
Farmers L A Tr Co N Y
Checks mailed
Broad St Station Phlla
do
do
11 WState St,Trenton,NJ
Mech Nat Bk, TrentonNJ
New York
Office 32 Nassau St N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do

M A N May 1 1910-18
do
do
J A J Jan 1 1940
do
do
J A J Jan 1 1942
do
do
& Bing —See those cos R R , Coop A Chari Valley
See text Jan 20 ’ 10, 2
90 West Street New York
J A J Jan 1 1932
Broad St Station Phlla
J A J Jan 1 1932
do
do
F

A A Aug 1 1936
July 1 1939
A ■TJuly 1 1913
M A S Sept 1 1952
Semi-an in vears
J Ai J July 1 1926

J

5 In 1909 J
5g F

A
A

Philadelphia Pa
People’s Tr Co, Bkln.NY
Colum Tr Co NY ADenv
New York or Denver
Denver Col

j|jan 15 1910 2 V* Office 165 B'way N Y
A Aug 1 1955
Bank’ Tr Co. N Y A Ber

bonds. The bonds weie sold at par pro rata to D. & H. stockholders to
refund the Albany & Susq. 6s and 7s, effecting a material saving of Interest.
In 1909 the Albany A Susq. stockholders were held by higher Federal courts
to be entitled to the benefit of this refunding, Increasing the yearly rental
paid. V. 85, p. 721; V. 83, p. 1036; V. 80, p. 1174, 1362, 2343; V. 88,
p. 938, 1499; V. 89, p. 1068, 1141. To Sept. 1909, $3,555,000 bonds had
been converted Into D. & H. stock.
Stockholders Feb. 19 1906 authorized Increase of the stock by $7,000,000
to provide for exchange of an Issue of $14,000,000 of 4% 10-year debentures
dated June 15 1906, which was subscribed by stockholders at par. The
debentures are exchangeable for stock at the rate of $500 stock for $1,000
debs. btn. June 15 1907 and 1912, lno. V. 81. p. 1848: V. 82, p. 687.
The equipt. lien 4>^s of 1907 ($10,090,000 Issue) have an annual sinking
fund of $650,000 to purchase bonds of the Issue, other securities or addi­
tional equip, to come under the mtge. V. 84. p 1247, 1307; V. 85, p. 1082.
On May 12 inns the stockholders authorized a first and refunding mort­
gage for $50,000,000, bearing not over 4% Int. and running 35 years, and
subject to redemption as an entirety only at 107)4 on any Int. day, beginning
May 1 1918. One per cent of the amount of bonds outstanding Is to be paid
to the trustee June 1 annually from 1009 to 1942, to be used to purchase
bonds or for Improvements and extensions. Of the Issue, $6,500,000 will be
reserved to retire the outstanding first mortgage bonds; $20,704,000 have
been Issued to discharge outstanding obligations maturing during 1908 or for
construction work in progress. V. 86, p. 981, 1109, 1589; V. 87, p. 96.
480, 1419, 1604; V. 89, p. 847, 1541; V. 90, p. 54, 107.
EARNINGS.— 9 mos.,J1909______ Gross, $14,092,511; net, $5,381,502
Jan. 1 to Sept. 30. 11908______ Gross, 13,534,280; net, 5,260,769
Net from coal department, $485,810 In 1909, against $730,999.
For 10 mos. ending Oct. 31 1909, gross from R R ’s, $15,928,713; net, after
taxes, $5,949,201; gross coal dep’t, $10,805,534; net, $286,943; total net,
$6,236,144; other Income, $1,325,449; Int, and rentals, $3,673,587; bal., sur.,
$3,888,006. V. 90, p. 167.
REPORT.— For 1908, In V. 88, p. 938.
Year end. Dec. 31—
1908.
1907.
Inc. or Dec.
Anthracite coal carried (tons). 9,165,689
10,025,312 Dec.
859,623
Gross earnings of railroads___ $18,500,731
$20,165,440 Dec. $1,664,706
Net (railroads)........................... 7.689.010
8,471,011 Dec.
782,001
Coal department (net)............. 1,145,418
1,173,206 Dec.
27,787
Other Income.........................
1,504,675
1,564,301 .Dec.
59,626
Total net Income................... $10,339,104 $11,208,518
Miscellaneous rentals ............... 1,897,628
2,353,528
Int., taxes and miscellaneous. 3,187,018
2,389,816
Dividends on stock_______ (9%) 3,816,000 (9)3,816,000

Dec.
Dec.
Inc.

$869,416
455,899
797,202
............... ..

Balance, surplus..................... $1,438,458
$2,650,173 Dec. $1,211,716
The earnings of the coal department In 1908 were $23,847,116; expenses,
$22,701,698; net. $1,145,418. In 1907, $23,504,415; net. $1,173,206.
OFFICERS.--Pres., L. F. Loree; Chairman Exec. Comm., R. M. Oly­
phant; V .-P ., Chas. A. Peabody; 2d V.-P. C. S. Sims: 3d V .-P ., W. H.
Williams: Trcas.. C. A. Walker: Sec., F. M. Olyphant, 32 Nassau St., N. Y.
Managers— Robert M. Olyphant, Chauncey M. Depew, John Jacob
Astor, L. F. Loree, William S. Opdyke, J. Rogers Maxwell, Cornelius Van­
derbilt, R. Suydam Grant, Geoage I. Wilber, C. A. Peabody, Robert S.
Lovett, Dumont Clarke and James A. Linen.— (V. 90, p. 54, 166.)
DELAWARE LACKAWANNA & WESTERN RR.— (See M ap.)— -Oper­
ates main line from Hoboken, N. J.. opposite N. Y. City, to Buffalo, N. Y ..
410 m.. with branches to anthracite region, &c., 547 m., viz.: (‘ see this co.)
Lines Leased (Concl.)—
Lines owned—
Miles.
N. J. State line to N. Y. line___ 114 Greene R R ------------------------------- 8
•Oswego & Syracuse------------------- 35
Branch to Northumberland_____80
H opatcong...........................
1 •Utica Chenango A Susquehanna 97
Erie A Central New York.......... 18
•Valley R R . of New York...........11
Lines controlled and oper.— Miles.
Syracuse & Baldwlnsvllle R R __
1
Bangor & Portland R y __________ 38 •Syracuse Binghamton & N. Y . . 81
Hanover A Newport R R _______ 7 Sussex R R ...........................- - - — 31
Lackawanna A Montrose R R — 11
Lines leased— (See each co.)
•Morris & Essex and leased brchs.176
Total operated Jan. 1909--------957
•N. Y. Lackawanna A Western.214
•Cayuga & Susquehanna________ 34
Cut-off between Slateford, Pa., and Port Morris, N. J., under con­
struction. requiring about three years to build, will shorten line 11 \4 miles.
V. 86, p. 543. The new tunnel through Bergen Hill, N. J., 14 of a mile, was
opened for traffic Feb 14 1909. V. 88, p. 504.
HISTORY, &e.—Original company chartered In 1832: present title as­
sumed In 1853. In 1903 purchased entire stock N, Y. A Hoboken Ferry Co.
In June 1909 the D. L. A W . Coal Co. was Incorporated with $6,­
800,000 authorized stock to act as selling agent for the company’s coal In
Pennsylvania, the railroad stockholders being permitted to subscribe for
Its stock pro rata to the extent of 25% of their holdings. See extra divi­
dend below. V. 89, p. 41. Quarterly dividends ot 2)4% on the coal com­
pany’s stock were begun In Jan. 1910. V. 90, p. 54.
In Dec. 1909 sold Lehigh Valley R R . stock owned, supposed to bo about
$1,850,000, and. If so, then worth about $3,700,000. V. 90, p. 54.
STOCK.— Stock was In July 1909 authorized to be Increased from $26,­
200,000 to $30,277,000, to provide 15% stock dividend ($3,930,000) and
for merger of two subsidiary cos. V. 89. p. 41, 348.
DIVIDENDS 11885. ’86 t o ’03. 1904. 1905. ’06. ’07. ’08. ’09.
1910.
Since 1 8 8 1 - .% /87H 7 yearly. *17 ‘ 19H *20 *20 *20 *70 Jan., 2\4
•The quarterly dividend was increased from 1
to 2t$% In April 1005)
an extra 10% was paid In Dec. 1904 to 1009 Inclusive. In July 1009 a
special cash dividend of 50% was paid, one-half being applicable. If desired,
to subscription of stock of new D. L. A W . Coal Co. selling agency; also
15% stock dividend, payable Aug. 2 1909. V. 89. p. 41, 224.
EARNINGS.— 12 mos.,/19(J8-09...Gross, $33,553,435; not, $15,075,722
July 1 to June 30.
\1907-08..-Gross, 33,810,253; net, 14,146,713




48

RAILWAY STOCKS AND BONDS.

RAILROAD COM PANIES
[For abbreviations, &c., see notes on first page]
Denver & Rio Grande— (Concluded)
First cons mortgage for $42,000,000]
now first mortgage______________/g o ld .. Us.c* Ar
Improvement mortgage ($5,000 per mile) gUs.c*Ar
Rio Grande Southern first mortgage guaranteed.Ce
Rio Grande Junction first mortgage guar------- Ce.c*
Rio Grande Western 1st M gold (V 60 p 2 8 4 )..Ce.c*
First cons mtge redeem at par (see text) g__ G.c*
Utah Central 1st M guar (V 68 p 724) g old ------- G
Utah Fuel Co 1st M $2,000,000 redeem at 110 . . ( ]
Pleasant Valley Coal 1st M s f redeem at 115---- G
• Salt Lake City Union Depot & R R — See that Co.
Equipment bonds Series A gold $75,000 due seml-an
do
do
Series B red 101 g $75,000 due s a
Des Moines & Fort Dodge— Common stock-------------Preferred stock 7% non-cumulatlve---------------------First mortgage gold guar prln A Interest.. .Ce.c*Ar
Second mtge $1,000,000 gold redeem at 105.........Ta
Des Moi la F & No— See St. Pa 1 A Des Moines—
Des Moines Union— First M for $800,000 gold.-Ce.c*
Detroit Grand Haven & Milw— First equip M guar-.c*
Consol mortgage guaranteed------------------------- - - c *
Detroit Hillsdale & S W— Stock 4% rental L S A M S
Detroit Grand Rapids & Western— See Pere Marquett
Detroit & Mackinac— Pref stock $1,000,000 auth.
“ First lien” $1,500,000 gold.................................Gc*
"Mortgage bonds” $1,750,000 g red at p a r.. _.Ge*
Detroit Toledo & Ironton— Com stock (V. 80, p. 650)
First pref 4% non cum (pref as to assets) $7,500,000
Second preferred 5% non-cumulatlve $5.000,000...
Detrolt Southern— Ohio South Division mtge.-Ce
General lien A division 1st M $4,253,000 gold.. N.c*
Consolidated mortgage $22,500,000 gold— — K.c*
Notes for Ann Arbor redeem 102 H yearly------- Usm
Equip trust notes g (V 82 p 09) $207,000 yrly.-Ta
Detroit Southern car trusts due $40,000 yearly-----

Miles Date
Road Bonds
J1,667
11,667
1,667
180
62
435
669
36
___

1886
1886
1888
1890
1889
1889
1899
1898
1901
1898
1903
1907

138 1905
1906
5 1887
189 1878
189 1878
65
e RR
All
All

1895
1895

263
All
Text

1901
1905
1905
1905
1905

.. -

—

Par
Value

Amount
Outstanding

$500 Ac $33,922,000
6,382,000
1,000
8,335,000
500
1,000 x2,277,000
2,000,000
1,000
1,000 Ac 15,190,000
1,000 Ac 14,1 f 8,000
390,000
1,000
720.000
1,000
1.042.000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
200 Ac
100

Rate
%

[ VOL.

When
Payable

4g J
4)4 g J
5g J
4g J
5g J
4g J
4g A
A
4g
M
5g
5g J

A
&
&
A
A
A
<&
A
A
A

M A
M A

LXXXX.

Last Dividend Places Where Interest and/
and Maturity
Dividends are Payable

J Jan 1 1036
J Jan 1 1936
D June 1 1928
J July 1 1940
D Dec 1 1939
J July 1 1939
O Apr 1 1949
O Jan 1 1917
S Mch 1 1931
J July 1 1928

National Park Bank, NY
do
do
do
do
Maitland, Coppell, N Y
do
do
Guaranty Trust Co, N Y"
do
do
do
do
do
do
do
do

N May’ lO-May’ 13 Blair A Co, New York
do
do
S Mch’ lO-Sep ’ 17

525,000
4H g
1,200,000
5g
4,283,100
763,500 5 In 1909
3,072,000
4g
600,000
5g

August Aug 2 1900 5% 25 Broad .Street N Y
Central Trust Co N Y
J & J Jan 1 1935
A A () Apr 1 1935

671,000
2,0j00,000
3,200,000
1,350,000

M
A
A
J

5g
6
6
4

950,000 5 In 1909 J
1,050,000
4 g .1
1,250,000
4g J
12,500 000
7,5001000
100
100 5,000,000
M
4,495,000
1,000
4g
4,253,000
1,000
4 g .)
1,000
2,776,400
4H g F
5
5,500,000
J
1,000
1,656,000
1,000
4H g .r
120,000
1,000
4 )i g A
100
1,000
1,000

Central Trust Co N Y
A N Nov 1 1917
New York and London
A O Nov 14 1918
do
do
A o Nov 15 1918
A .) Jan 5 1910 2% Farmers’ L A Tr Co N Y
A
A
A

J Jan 3 1910 2 M H K McHarg New York
J P Morgan A Co N Y
1) June 1 1995
do
do
D June 1 1995

A S Mch 1 1941
A D Dec 1 1955
A A Aug 1 1980
A D Dec 1 1908
A I) To June 1915
A o To Oct 1 1912

Sept ’00 coupon not paid
Dec '00 coupon not paid
Aug ’07 coup last paid
D C ' 7 CO P I 'St p ' M
Dec ’ 07 coup last paid
Merc Trust A Dep Co Bal

x Of which $1,677,000 In treasury; there are also $2,233 ,000 n ot guara nteed
Continental Range, 50 miles west of Denver ($5,000,000 auth. Issue), will
be guaranteed, prln. and lnt. V. 85, p. 1143. Pres., David H. Moffat;
V.-P., W. G. Evans; Treas.. Thos. Keely; Sec., F. B. Gibson.— (V. 88, p.
623, 1061, 1127; V. 89. p. 993.)
DENVER & RIO GRANDE RR.— [See Map) . — ROAD.—'The lines
owned and controlled are well shown on the adjoining map.
Miles. |
Miles.
Road owned and operated___ 2,528 | Of the preceding:
Rio Gr. Jc. R R ., Ac. (leased)..
70|Standard gauge---------------------- 1,810­
--------- INarrow gauge o n ly ____________ 787
Total June 30 1909.............. 2,598 I2d track . .
82
Rio Grande A Southwestern R R ., Lumberton Station,Col.,33 m. south­
Gross
$32,898,495 $37,264,473 $32,962,879 easterly, Is operated on basis of 25% of gross earns. V. 79, p. 907.
Net after taxes.................
$13,249,939 $14,375,034 $12,490,438
HISTORY. -Reorganization of a railway company of same name fore­
Coal department (net)_______________ 4,166,793 *4,224,921 *3,65o,119 closed July 12 1886. On July 31 1908 the Rio Grande Western was merged.
940,234
844,25o V. 87, p. 226, 285. The Rio Grande Junction Is leased Jointly by this co.
Other miscellaneous Income_________ 1,513,458
and tne Colorado Midland, and Its bonds guaranteed. The Col. Midland Is
Total net Income................................. $18,930,191 $19,540,189 $16,989,812 controlled by parties Interested severally In the I). A R. G. and Colorado
Interest and re n ta ls_________________ $5,160,140 $5,309,958 $5,368,196 A Southern. V. 70, p. 739. The Rio Grande Southern Is controlled.
Rentals, advances, &c--------------------291,323
The Missouri Pacific early In 1901 acquired $14,800,000 common and
3,820,088
5,551,619 $7,300,000 preferred stock, this, together with the Rockefeller Interest, It
Renewals and betterments__________ 2,781,603
Dividends (1 0 % )______
2,620,000
2,620,000
2,620,000 Is understood, constituting a considerable majority of the entire stock.
Extra dividend (1 0 % )______________
2,620,000
2,620.000
2,620,000 V 72, p. 338, 580, 1238; V. 73, p. 506.
Denver & Rln Grande owns two thirds of the stock and has given a
Balance, surplus after dividends.. $5,457,125 $4,849,327
$587,071
guaranty to the Western Pacific Ry. (which see) to be completed
•Earnings of the coal department In 1908, $41,487,555; expenses, $37.­ traffic
from Salt Lake City to .San Francisco by N v. 1909. V. 81, p. 845- V. 83,
320,763: net, $4,166,792; 1907, $42,184,935: expenses, $37,960,014; net, p. 568. The stock ($200,000) of the Salt Lake City Union Depot A RR.
$4,224,921; 1906, earnings, $38,504,171; net, $3,655,119.
Co. Is equally owned by the D. A R. G. and Western Pacific, which guar­
OFFICERS.— Pres., W. H. Truesdale; Sec. and Trcas., A D. Chambers. antee Its $1,100,000 first mortgage 30-year 5% bonds. V. 88, p. 232.
D1VS. since ’911 ’ 92. ’ 93 ’ 94. ’ 95. ’ 96. ’ 97 ’ 98. ’ 99. ’00. ’01 to Ja i ’ 10
BOARD.— Fredk. W. Vanderbilt, Win. H. Moore, Eugene Higgins.
2
0
0
2
2 2 ) 4 4
4
5 yearly
Henry A. C. Taylor, J. Rogers Maxwell, Geo. F. Baker, Wm. Rockefeller, on preferred. % . 1 0
Hamilton McK. Twombly, James Stillman, M. Taylor Pyne, Harris C.
BONDS.—Consols of 1886 for $6,900,000 originally reserved for exten­
Fahnestock. Frank Work. John D. Rockefeller Jr.. William Fahnestock.— sion to Ogden were available for capital requirements, of which part Issued.
Office, 90 West St., New York.— (V. 90, p. 54.)
V. 73, p. 507. See abstract of mortgage In V. 47, p. 228.
The improvement mortgage abstract was In "Chronicle” , V. 47, p. 229.
DELAWARE MARYLAND & VIRGINIA RR.— Owns from Harrington
Abstract of R. G. W. 1st mort. was In V. 49, p. 237, and statement to
to Franklin City, Va., 78 miles; Georgetown to Rehoboth, Del., 20 miles;
total, 98 miles. Controlled by Phlla. Balt. & Wash., which owns $326,200 N. Y. Stock Exchange, V. 50, p. 73; also V. 69, p. 284. Utah Fuel 1st 5s
of the $526,758 stock (par $25). and so by Penn. RR. See V. 50, p. 498. of 1931; see application to list, V. 78, p 1171, 1178, 1548, 2015.
T h e R i o O.W. first consol. 4s o f 1 8 9 9 , se e a p p l ic a t i o n t o list In fu ll.
In year ending Dec. 31 1908. gross. $323,835: net, Incl. other Income. $15,­
610; Interest, taxes, &c., $60,229; balance, deficit for year, $44,619—but V. 72, p. 537. V. 72. p. 775, 1189. List of coll. June 30 1909, V. 86, p. 603.
this does not Include Interest on lloatlng debt (of $822.985 Dec. 31 1908).
The stockholders voted July 23 1908 to merge Rio Gr. West, and on Sept.
DELAWARE RIVER RR. & BRIDGE CO.— Frankford Jet., Pa., to 10 to make a refunding mortgage dated July 1 1908 covering the con­
solidated properties to secure an Issue of $150,000,000 bonds, of which $90,­
Pensauken, N. J., and branches, 9.52 miles.
Capital stock ($1,300,000) Is all owned by the Pennsylvania R R ., which 000,000 will be reserved to retire underlying bonds and the remaining $60,­
guarantees bonds, principal and Interest, by endorsement. Dividends; 000,000 will be available for other purposes. The bonds are redeemable at
Dec 1900 to June 1906, lncl., 4% yearly (2 J.A D .); Dec. 1906, 3% : 1907, 105 to Aug. 1 1913 and 110 thereafter. In Nov. 1908 $17,500,000 of the
were sold, In Feb. 1909 $5,000,000 and In Aug. 1909 $5,000,000, the
5% ; 1908, 6% ; 1909, June 26, 2% ; Dec., 4% . Sink.-fund, 1% ; bonds can­ bonds
bankers having an option of $1,000,000 additional. V. 87, p. 1419. In addi­
not be called. Guaranty, V. 63, p. 1062, 1159; V. 89, p. 1596.)
tion to a lien on the D. & R . G., the bonds are secured by two-thirds ($50,­
DENISON BONHAM & NEW ORLEANS RY.— Bonham Jet. to Bon
000,000) of the stock of the Western Pacific and all the outstanding 2d M.
ham. Tex., 24 miles. Operated since completion. Dec. 1 I90t, by the Mo. bonds on the latter ($23,230,000 In Jan. 1909). V. 86, p. 1224, 1284, 1529;
Kans. A Tex. under a 10-yr. contract. Stock, $50,000. In Nov. 1905 per­ V. 87, p 226. 285, 544, 741, 1419; V. 88, p. 100, 230, 294, 504, 822; V. 89,
mission was given to register $325,000 30-year gold bonds; none outstanding p. 348, 593, 993.
July 1907. V. 76, p. 381; V. 81, p. 1610. Pres., Ed. D. Stcger; Sec.,
LATEST EARNINGS.— From July 1 to Nov, 30, 5 months;
John W. Russell.— (V. 77, p. 823; V. 81. p. 1610.)
Gross.
Net.
Oth. Inc. Charges.
Bal.,Sur.
DENVER LARAMIE & NORTHWESTERN R Y — Projected to extend 1 950 9 Mos.—
.............$10,555,446 $3,381,825 $577,908 $2,168,450 $1,791,283
from Denver, Col., to coal fields In Carbon Co., W yo., 220 miles, of which 1908________
9,240,967
2,992,428
328,866
1,640,904
1,680,390
43, Denver to Mllllken, was opened for traffic Jan. 17; 12 miles additional to
ANNUAL REPORT.— Report for 1908-09 In V. 89, p. 589, 602, Includ­
Greeley under construction. Stock, $5,000,000; all Issued; par, $100.
[Inc. + ) of
In Aug. 1909 filed mtge. to International Trust Co. of Denver, as trustee, ing the Rio Grande Western. See p. 564.
to secure an Issue of $3,300,000 bonds. Issuable at $15,000 per mile. V. 89,
1908-09.
1907-08.
Dec. (— ).
p. 593, 922. President, Charles S. Johnson, Denver; VIce-Pres. and Gen. Average miles operated____________
2,534
2,499
+35
Mgr. William E. Green.— (V. 89, p. 593, 922.)
Total operating revenue____________ $20,876,571 $20,386,431 + $490,1400^,467,535
7,503,979 — 1,036,444
DENVER BOULDER & WESTERN RR.— Boulder to Ward, Colo., 26 Net revenue
762,823
750,471
+12,352
miles; Sunset to Eldora, 20 miles; branches, 5 miles; total, 51 miles. Reaches T axes..................................................
Denver Union Depot from Boulder over Colorado A Southern (third-rail)
Operating Income_______________ $5,704,712 $6,753,508 — $1,048,796
V. 80, p. 650. Successor to Colorado A Northwestern RR. sold In fore­
982,039
554,296
+427,743
closure March 29 1909 to the bondholders’ committee.
V. 88, p. 944. Other Income.......................................
Stock, $300,000, all outstanding; par $100. Of the bonds ($800,000 auth.
$7,307,804
—$621,053
Total net Income________________$6,686,751
Issue), $100,000 are reserved for extensions, Improvements, Ac. They are
$3,293,928
+ 7 123
entitled to lnt. up to 5% If earned, payable Sept. 1 beginning 1910. For 5 Interest on bonds_________________ $3,301,051
47,303
—7,851
mos. ending Aug. 31 1909, gross, $76,873, against $35,043 In 1908; net, Rental of road, yards, terminals, Ac
39,452
430,737
—141,437
Hire of equipment________________
289,300
$16,527, against $1,959.
2,288,070
+ 920
Year ending June 30 1908, old company, gross, $84,187; net, $11,101; lnt., Dlv. on preferred stock (5 % )______ 2,288,990
120,000
120,000
taxes, Ac., $53,801; bal., def., $42,700. Pres, and Treas., W. B. Hayes; Renewal fund____________________
75,033
231,393
Sec., C. M. Williams. Office, Boulder. Colo.— (V. 89, p. 41, 993.)
Appropriations for betterments___
156,360
+ 204,884
204,884
DENVER NORTHWESTERN & PACIFIC R Y.— Building from Denver to Appropriations for new equipm ent..
Salt Lake, about 575 miles, along a line about tOO m. south of the Union Pac.
Total................................................. $6,400,037
$6,411,431
— $11,394
and 125 m. north of the Denver & Rio Grande. In 1905 110 miles, Denver Surplus.................................................
$286,714
$896,373 —$609,659
to Sujphur Snrlngs, Col., were opened. Extension from Sulphur Springs to
OFFICERS.— Chairman of Board, George J. Gould; Pres., E. 4’ . Jeflcry;
Steamboat Springs, 101 m...completed Nov. 1 1908, the last-named point
being 364 m from Salt Lake. See V. 75. p.289: V. 78, p. 1108: V. 80, p. VIce-Pres.. Chas. H. Schlacks: Treas.. J. W. Gllluly: Sec and Compt.,
1362; V. 86, p. 167. Leases Northwestern Terminal R y. at Denver for 999 Stephen Little. Office, 195 B’way, (to boMOS B’way shortly), N. Y.
years, guaranteeing bonds, prln. and lnt. Bonds are redeemable from
Directors— George J. Gould. Winslow S. Pierce, E. T. Jeffery, Edwin
July 1 1911 to July 1 1916 at 105 and lnt.; thereafter at 102
V.89, p.993. Gould. Howard Gould. A. H. Calef and Arthur Coppell, New York: Charles
V . 86, p. 1284; V. 79, p. 1704; V. 81. p. 1315; V. 82, p. 1211; V. 86, p. 1284; H. Schlacks and Joel F. Valle, Denver, Col.— (V. 89, p. 589,1593, 602, 993.)
V. 89, p. 993.
DES MOINES & FORT DODGE RR.— (See Map Minneapolis & St.
Incorporated In July 1902 with $20,000,000 authorized stock, of which
$10,000,000 pref. 5% non-cum.. all to be Issued for construction, together Louis.)— Owns Des Moines to Rutliven, la., 137.01 m.; at Ft. Dodge, la.,
with $20,000,000 of the $22,500,000 4% bonds. V. 75. p. 1147; V.79, p, 102
0.61m .; trackage, Tara to Ft. Dodge, 6.07 m .;and Spencer to Ruthven,
Outstanding April 1 1909, $5,450,000 each of com. and pref. stock and 12.45 m.; total, 156.14 m. In 1004 Mlnncap. & St. Louis acquired $2,530,$10,900,000 bonds. Of the bonds, $8,000,000 are deposited as collateral OOOof the outstanding $4,283,100 com.stock,and guarantees the $3,072,000
for $4,000,000 6% 2-year notes of the Colorado-Utah Construction Co. first mtge. 4% gold bonds Issued to retire all the outstanding bonds which ma­
(which Is building the road), dated May 1 1909, redeemable at 101, and tured Jan. 1 1905; the Minn. & St. Louis leases the road for 30 years from
guaranteed, prln. and lnt., by Pres. D. H. Moffat; Interest payable quar­ Tan 1 1905: all Income over charges. Improvements, Ac., to be paid to
terly (Q.-F.): Central Tr. Co., N. Y ., trustee: denominations $5,000, $10,­ lessor. V. 79, p. 268, 1704, 2085. Guaranty, V. 79, p. 2696. Pref. stock
000, $25,000 and $50,000 each. V. 88, p. 1127, 1061. The bonds of the (non-cum.) shares equally with common after 7% on each.
Continental Tunnel Co., to construct a tunnel 6 miles In length through the
Second M. bonds, $1,000,000 auth., see V. 82, p. 1322.

For 5 months ending Nov. 30 1909, gross, $15,489,777, against $14,442,­
806 In 1908; net, $7,469,254, against $6,609,247.
ANNUAL REPORT.— Annual meeting Is held on Tuesday preceding list
Friday In February. The report for 1908 was In V. 88, p. 558. Compari­
sons with earlier years are Inaccurate owing to changes In method of ac­
counting. The following Includes all lines except Syracuse Blnghamto-' A
N. Y., Sussex R R ., Bangor A Portland and Lackawanna A Montrose RR.
Year ending Dec. 31—
1908.
1907.
1906.
Passenger chrnlngs__________________ $6,449,032 $6,757,596 $6,216,624
Freight earnings..................................... 24,408,710 26,597,224 23,245,274
Miscellaneous......................................... 2,040.753
3,909,653 3,500,981




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RAILWAY STOCKS AND BONDS.

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50

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
For abbreviations, &c., see notes on first page]
Det & Tol Sh L— 1st M $3,000,000 g gu p A l.M e.c* Ar
Dover & Rockaway— Stock 6% rental 099 years____
Dub & Sioux City— 111 Cent VV lines 1st M g .. Us.c*Ar
Iowa Falls & Sioux City 1st M Iowa Falls to SlouxCy
Cher A Dak C R & C and Omaha Dlv Ac first mtge
Duluth & Iron Range— First mortgage______Mp.cAr
Second M currency redeem at 105 $5,000,000.Ce.c*
Duluth Missabe & Northern— First mortgage gold s I
First consol mtge $3,500,000 gold call at 105 ..C e
General mortgage gold s f, red 105____ ______ Nxc*
Dul RL&VVin— lstM$2,000,000 g red 105 beg’ ll.lC .c *
Duluth So Sh & Atlantic— Marq H A On gen M. -Ce.c*
Duluth South Shore & Atlantic 1st M gold.Ce.cAr
First consol mtge gold Interest guar___ Ce.c*Ar
Income certs ($3,000,000 held by Can Pac July ’09)
Car trusts guar by Can Pac (due monthly)________
do
guar by Can Pac (due $17,000 yearly) . .
do
do
d o _____________________
Dul Winn & Pac— 1st M to be guar by Can Nor R y__
2d M gold bonds guar by Can Nor R y ____________
Durham & So Car— 1st M $300,ooo gold red 105. MeBa
Durham & Southern— 1st M $1,000,000 auth gold -.F
Durham Union Station— First M $75,000 g — S.c*Ar
Dutchess County RR— See Central New England R y .
East Mahanoy RR— Stock--------------------------------------East Pennsylvania— Stock 6% guar 999 yrs Phlla A R
First mtge gold guar p A 1 by P A R RR (en d)-.c*
East Tennessee Virginia & Georgia— See Southern Ry
East Tenn & VV No Car— 1st M g (V 81 p 1723) GuP c*
Eastern Ry of Minnesota— See Great Northern
El Paso & Northeast— N M R y AC coltr gred 105.. N
N M Ry & Coal M gold_______________________ Ta
Alam A Sac Mt first mtge $000,000 gold guar----- N
El Paso & Rock Isl first M $2,500,000 gold---- Ta.c*
Dawson Ry A Coal coll trust gold guar p & I.-Ta.c*
El Paso Union Pass Depot— 1st M g $240,000 s f.-Ta
Elgin Joliet & Eastern— 1st M ($10,000,000) g.Cex.c*
Elmira & Lake Ont— Sodus Bay & So— 1st M g . . Un.c
Elmira & Williamsport— Stock common 5% rental NC
Preferred stock 7% rental 999 years Northern Cent

M lies Date
Road Bonds
48
____

218
184
328
210
210
65
130
215
__
130
588
588
__
____

...
__
61
. . .

Par
Value

Amount
Outstanding

36 —
36 1888

50
50
1,000

497,750
1,948,300
495,000

34 1905

1,000

500,000

____

Rate
%

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

1903
$1,000
2,288,000
4 g ■J A J Jan 1 1953
___
100
6
140,000
A A O Oct 1909 3%
1,000
1895
5,425,000
F & A Aug 1 1951
4g
1869
500 Ac
2,800,000
7
A A <) Oct 1 1017
’88-00
8,930,000 Illinois C entral bo nds or collateral
1887 1,000 &c
6,732,000
5
A A o Oct 1 1937
1896 1,000 Ac See text
6
.1 A J Jan 1 1916
1892
l ,174.000
6 £ J A J Jan 1 1922
1893
1,000
903,000
6 g J A J Jan 1 1923
1906
1,000
9,274,000
5 g J A J Jan 1 1941
1906
1,000
2,000,000
5 g J A J Jan 1 1916
1885
1,000
1,077,000
6
A A () Apr 1 1925
1887
1,000
3,816,000
5 g J A J Jan 1 1937
1890
1,000 15,107,000
F A A Aug 1 1990
4g
1892
4
3,000,000
1906
100 dec
53,664
4J* J & J To Jan 1911
1907
108.933
5
.1 A 1) 15 To June 1912
1909
189,000
M & S Mch 1 1914
4H
1909
See text
1909
1,666
1,525,000
4 g J A J Jan 1 1939
1 *’ •>
1,0110
300,000
5e
.1 A .1 ■lnlV 1 11135
1906
1,000
750,000
J A J Jan 1 1946
4g
1905 1,000 Ac
54,000
M A N May 1 1955
5g
_____

165 1897
____
1901
31 1898
128 1901
133 1901
____
1905
181 1891
34 1884
73^1 . . . .
—
73

1,000
3,000.000
1,000
2,000,000
1,000
372,000
1,000
2,500,000
1,000
3,000,000
1,000
240,000
1,000 10,000,000
1,000
500,000
50
500,000
50
500,000

DIVIDENDS— .
1 '93. ’94. ’95. ’ 96 to ’98. ’ 99 to ’03. ’04 to ’ 09.
On preferred............. % ( 2
4
4 6 y’ rly.
7 y’ rly.
5 y’ rly.
Report for year ending Dec. 31 1908 In V. 88, p. 1615, showed gross
earnings, $529,071; net, $159,949; taxes A Int., $173,280; deficit, $13,331.
Pres.. Edwin Hawley; Vlce-Pres., I,. F. Day; Treas., F. H. Davis; Sec..
W. S. Crandell.— (V. 88, p. 1436, 1615.)
DES MOINES UNION RY.— Terminal road In Des Moines; owns 5 miles
main track and branches. 14 miles 2d and side tracks, bridge across Des
Moines River and 25 acres of land In Des Moines. See statement to N. Y.
Stock Exchange In V. 65. p. 1173. Leased to Wabash R R ., Chicago Great
Western, Chic. Mlhv. A St. P. R y., Chic. Burl. A Quincy R R ., St. Paul A
Des Moines R R . and Minneapolis & St. Louis R R . V. 75, p. 342. Rental
equal to expenses and fixed charges paid monthly by lessees on wheelage
basis. Stock auth., $2,000,000; out., $400,000; par, $100. Year 1908-09,
gross, $268,408; net Inc., $106,344; bond Int., $35,550.— (V. 86, p. 337.)
DETROIT GRAND HAVEN & MILWAUKEE RY.— (See Map Grand
Trunk. Ry.)— Owns from Detroit to Grand Haven, Mich., 189 miles. A re­
organization of Sept. 1878. The principal and Interest on the bonds are
guaranteed by the Grand Trunk of Canada. Stock. $1,500,000; par, $50.
Real estate bonds or mortgages, $226,000. On June 30 1909 sundry out­
standing accts., $2,764,51/'. Grand Trunk of Canada owns entire stock.
EARNINGS.— 5 m o s .,fl909..................Gross, $860,397; net, $217,776
July 1 to Nov. 30. 1 1908--------------- Gross, 762,362; net, 190,280
Year ending June 30 1909, gross, $1,699,403; net, $386,612; other Income,
$7,836; charges, $504,483; bal., det., $110,035.— (V. 88, p. 1620.)
DETROIT HILLSDALE & SOUTHWESTERN RR.— Owns Ypsllantt,
Mich., to Bankers, Mich., 65 m. Leased In perpetuity July 1 1881 to the
Lake Shore A Mich. Southern R y.; rental, $54,000 per year—4% on stock.
DETROIT AVACKINAC & A1ARQUETTE RY.— SEE MISC. COS.
DETROIT & AlACKINAC RY.— Owns from Bay City, Mich., to Cheboy­
gan, 196 m.: Rose City Branch, 31 m.: Prescott Branch, 12 m.; Lincoln
Branch, 14 m.; Au Gres Branch, 8 m.; Hillman division, Alpena to Hillman,
Mich., 25 miles (opened Dec. 1909); logging branches (largely temporary),
86 m.; total, 372 m. In 1908-09 forest products furnished 52.01 % of traffic.
In 1902 Henry K. McHarg and associates acquired control.
BONDS.— "Mortgage bonds” for $500,000 were reserved for betterments
Ac.. at not over $50,000 per year. V. 74, p. 629. In addition to the
amounts shown above as outstanding, $450,000 “ first lien” and $350,000
"mortgage” bonds were on June 30 1909 held In the treasury. Equipment
notes (5s), $40,000, due $6,667 monthly to July 1910 Inclusive.
STOCK.— The capital stock Is $3,000,000, of which $2,000,000 common
and $1,000,000 5% non-cum. preferred. See V. 74, p. 629. Dlv. on pref.,
2y$% July 1 1903; since to Jan. 1910, 5% yearly.
LATEST EARNINGS.— (1909................ Gross, $514,071; net, $139,627
5 mos., July 1 to Nov. 30. (1908................ Gross, 473,353; net, ■ 138,785
EARNINGS.— Report for year ending June 30 1909 was In V. 89, p. 1219,
showed gross, $1,148,974; net Income after taxes, $283,459; Interest on
bonds, Ac., $101,175; pref. dlv. (5% ), $47,500; bal., sur., $134,784, all
used for extraord. purposes, Ac. 1907-08, gross, $1,186,096; net, $397,045.
— (V. 88, p. 100; V. 89, p. 1068, 1219.)
DETROIT TOLEDO & IRONTON RY.— Operates road from Detroit,
Mich., to Ironton, via Lima, 389 m., Including 45 m. of trackage; branches,
Kingman to Sedalla, O., 31 m.: Jackson to Cornelia, 19 m.. and Llsman
Jet. to Dean, O., 3 m.; total, 441 m.; coal mine tracks, sidings, Ac., 139 m.
Also owns control of Ann Arbor R R ., which see. V. 81, p. 264; V. 82, p. 509.
ORGANIZATION.— Successor, per plan V. 80, p. 650, of Det. South.
RR. foreclosed, subject to Ohio South, mtge. V. 80, p. 2344, 1856.
Receivership.— In Feb. 1908 Geo. K. Lowell, Benj. S. Warren and Thomas
D. Rhodes were appointed receivers, the Interest on the consol. 4 t$s due
Feb. 1 1908 being In default. The Interest on the divisional and gen. lien
4s was first defaulted Dec. 1 1909. The Sept. 1909 coupons on Ohio South­
ern division bonds were defaulted, but was expected to be paid prior to Mch.l
1910, when right to begin foreclosure accrues. V. 89, p. 593. On Feb. 25
1908 $300,000 receivers’ certfs. were authorized having a lien Junior to the
Ohio So. division and divisional and gen. lien 4s; $250,000, bearing Interest
at 6% , were outstanding Dec. 1909. V. 86, p. 546, 602.
In Jan. 1910 $500,000 first lien receivers’ certfs. were auth. V. 90, p. 167.
Committee for Consol. 4 Ms.— Russell Harding, Chairman; Henry V. Poor,
Seo.; Central Trust Co., depositary. V. 86, p. 337.
Collateral Trust Noteholders' Committees.—Joseph Ramsey Jr. Is Chairman
of one committee, Walter L. Worrall. Secretary: New York Trust Co., de­
positary. In Nov. 1908 about $3,600,000 of the $5,500,000 outstanding
notes were owned or controlled by the committee. V. 86, p. 337, 420,
480, 546, 602, 1589; V. 87, p. 166, 285, 544, 1300.
Another committee (E. Rollins Morse, Chairman; Windsor Trust Co.,
New York, depositary) in Nov. 1908 owned or controlled about $1,700,000
notes. V. 86, p. 602, 1343; V. 87, p. 166, 226, 544, 613, 677.
Committee for Ohio So. Div. 4s.— James N. Wallace, Chairman; F. E.
Mowle, Sec., 25 Nassau St., N. Y.; Central Trust Co., N. Y ., depositary.
V. 89. p. 1279, 1541.
Committee for Gen. Lien & Div. i s .— Otto T. Bannard, Chairman; Wm. R.
Britton, Sec., 30 Broad St., N. Y.; N. Y. Trust Co., depositary. In Jan.
1910 over 85% had been deposited. V. 89, p. 1482, 1596, 1667; V. 90,p .167.
The Interest on the $1,656,000 4 Jtf% equipment trust notes of 1907 being
In default, tho equipment was surrendered to the makers, but tho obligation
therefor remains. V. 89, p. 1410.
Stockholders’ Committee.— Willard V. King, Evans R. Dick and E. L
Oppenheim (Columbia Trust Co., N. Y .. depositary). V. 86, p.794.
Pref. Stockholders’ Committee.— Alexander J. Hemphill, Chairman; Edgar
O. Hebbard, Sec. (Guaranty Tr. Co.. N. Y., depos.). V. 86, p. 1409, 1529.




1

[VOL. L X X X X

5
6
4g

Central Trust Co N Y
Company’s office N Y
Chase Nat Bk N Y; AChlc
44 Wall Street New York
do
do
New York or London
do
do
Chicago, III
Detroit, Mich
1st coup Jan 1 1911
1 rchants’ i usi Co Balt
Farmers L A T Co, N Y
Stui.dard Trust Co N Y

J & D 15 Dec 15 1909 2 h Reading Term Pldla Pa
J A .1 Jan 18 1910 3?i
do
do
M A S Mch 1 1058
do
do

5g

M A N Nov 1 1035

5
5
5
5
5
5
5
5
5
7

A
A
A
J
J
J
M
J
M
J

g
g
g
g
g
g
g
g

Mercantile Trust of N Y
143 Liberty St New York
Office 115 B’way N Y
do
do
therefor
Office Empire Bldg N Y
do
do

A
A

A
A
A

A
A
A
A
A

O Oct 1 1047
() Oct 1 1951
o Apr 1 1928
J Jan 1 1951
J July 1 1951
J Jari 1 1916-1931
N May 1 1941
J July 1 1924
N Nov 1909
J Jan 1910

Guar Tr A S D Co Phlla
Trust Co of America N Y
do
do
do
do
71 Broadway New York
Nat Bank of Comm N Y
Broad St Station Pldla
do
do

NOTEHOLDERS PLAN.— In Nov. 1908 the Ramsey committee came
to an agreement with the Morse (or Hollins syndicate) committee, looking
to an exchange of the committee’s Interest In the pledged D. T. A I. consols
for the syndicate’s Interest In the Ann Arbor pref. and com. stock. See
circular In V. 87, p. 1300. In Oct. 1909 reorganization was deferred pend­
ing litigation as to validity of certain consol, mtge. bonds. V. 89, p. 224.
The 5% notes of 1905 ($5,500,000 Issue) are secured by $3,001,000
Ann Arbor preferred and $2,190,000 common stock and $5,000,000 Det. T.
& I. consols. V. 80, p. 2457, 2620; V. 81, p. 155. Loans and bills payable
June 30 1909, $635,851.
EARNINGS.— 5 m os.,(1909.................. Gross, $702,717; net, $108,656
July 1 to Nov. 30. \ l9 0 8 .................Gross, 741,841; net, 127,204
REPORT.— For year ending June 30 1909 In V. 89, p. 1217.
Entire System (including Ann Arbor).
. „ Y ear—
Cross. Net (aft.Tax.) Oth.Inc. Deductions.
Balance.
1908-09............ $3,233,607 $557,406 $139,964 $1,354,536 def.$657,166
190708. 3,506,048
413,165 395,956
1,328,838 dot. 519,716
Detroit Toledo & Ironton Proper.
, ____
190809..$1,525,126 $166,956 $38,476
$890,689 dcf.$685,257
42,405
297,836
915,343 ___
1907-08--------- 1,623,266
dcf. 575,101
Interest charge Includes yearly $275,000 Interest on collateral trust notes
Issued for Ann Arbor stock. See V. 83, p. 1034.
Pres., Eugene Zimmerman; Sec. and Treas., G. Casper Niles; Office,
Detroit.— (V. 89, p. 1279, 1410, 1482, 1541, 1596, 1667; V. 90, p. 166.)
DETROIT & TOLEDO SHORE LINE RR.— Extends from Toledo to
(suburbs of) Detroit, 47.6 m.; 2d track, 20 m.; sidings, 3 m.: trackage over
Toledo Ry. A Term. Co., Ac., 31 m.; total track, 101.6 m. V. 78, p. 2598.
The Grand Trunk Western Ry. and the Toledo St. Louis A Western RR.
own the entire $1,428,000 stock and Jointly guarantee the bonds, principal
and Interest, by endorsement. See form of guaranty, V. 76, p. 653. First
dividend, 4% , paid from earnings prior to Juno 30 1908; In fiscal year
1908-09 6% and In 1909 (after June 30), 2% . V. 87, p. 1237.
EARNINGS.— 5 m os.,(1909................... Gross, $355,996; net, $159,902
July 1 to Nov. 30. \1908__________ Gross, 328,100; net, 134,135
Year ending June 30 1909, gross, $769,181; net, $319,405, as reported to
Int. Corn. Commission (against $448,507 In 1907-08). In 1907-08, gross,
$878,421; net Income, $401,583; int. on bonds, rentals, &c., $293,583; lmprovements, $21,079; dlvs. (4 % ), $57,120; bal., sur., $29,801. Pres.,
T. P. Shonts.— (V. 87, p. 1237.)
DUBUQUE & SIOUX CITY R R — See page 172.
DULUTH & IRON RANGE RR.— Owns Duluth to Ely, Minn., 117.22 m.;
Tower Jet. to Tower, 1.40 m.; Allen Jet. to Virginia, 25.31 m.; McICInloy
;° kveleth, 8.83 m.; Waldo to Drummond, 15.02 m.; branches and spurs,
56.03 m.; trackage to Union Depot, Duluth, 0.80 m.; total, 224.61 miles.
Owns ore docks and yards on Lake Superior costing over $1,500,000.
STOCK, Ac.— Stock. auth., $10,000,000: out., $3,000,000. Federal
Steel Co. (see U. S. Steel Corp.) owns the stock and $3,500,000 of tho $4,­
500,000 2d mtge. bonds. (V. 66, p. 1237.) First mtge. bonds auth., $25,­
000 per mile for construction and $7,000 for equipment. Dividends since
1901; 1905, 65%; 1906, 40%; 1907, 80%; 1908, 80%; In fiscal year 1908-09
145% paid from accumulated surplus.
EARNINGS.— 5 m os.,(1909..........Gross, $6,336,973; not, $4,546,242
July 1 to Nov. 30. 11908_____ Gross, 4,596,167; net, 3,191,572
Year ending June 30 1909, gross, $6,847,572; net, $3,931,946; other In­
come, $108,496; Int., Ac., $1,251,569; bal., sur., $2,788,873.— (V .79,p .2085
DULUTH A1ISSABE & NORTHERN RY.— Owns from Duluth to Moun­
tain Iron, Minn., 77.96 m.: branch from Alborn northwesterly to Buckeye
Mine, 53 m.; other branches and spurs, 150 77 miles; trackage to Union
Depot, Duluth, 2 m.; total. 283.63 m. Entlro $4,112,500 stock owned by
Lake Superior Consol. Iron Mines and so by U .S. Steel Corp. V. 72, p. 1038.
Of the general 5s of 1906, bonds are reserved to retire tho underlying
bonds; additional bonds may be Issued at not over $30,000 per mile for ad­
ditional single main track and $20,000 for second, third and fourth main
tracks and for not over 75% of the cost of equipment and Improvements.
Sinking fund of 2% yearly of outstanding bonds (Incl. bonds In s. f.) retires
bonds by lot at 105. V. 88. p. 822.
In 1903-04 paid dividend of 150% from accumulated surplus and In Sept
1905 70%; June 1906, 40%; Sept. 1907, 50%; June 1908, 60%; Dec. 1908,
40%; In fiscal year 1908-09 145% paid from accumulated surplus.
EARNINGS.— 5 mos.,J1909.......... Gross, $8,743,007; net, $6,624,630
July 1 to Nov. 30. \1908.......... Gross, 6,577,617; net, 4,901,508
For year ending June 30 1909, gross, $10,022,565; net, $6,279,906; other
income, $358,969; Int., rentals, Ac., $916,985; bal., sur., $5,720,890. In
1907-08, gross, $9,365,249; net, $5,295,986.— (V. 90. p. 236.)
DULUTH RAI NY LAKE & WINNIPEG R Y .—Completed April 1908
from Virginia, Minn . north to connection with Canadian Northern at In'er
national Falls, 98 miles. V. 86, p. 546, 1100. In Dec. 1908 the Canadian
Northern purchased the entire $2,000,000 stock. Duluth Winnipeg A
Pacific Ry. (which see) will build an extension to Duluth. 75 m. V. 87,
p. 1605, 1664; V. 88, p. 563, 623, 882, 1252.
The Virginia & Rainy Lake Co., which formerly owned tho D. R. L. A
W ., guarantees the Interest on the bonds. Sinking fund yearly, beginning
Alch. 1909, amounting to two-thirds of not earnings. V. 81. p. 558, 613,
1848; V. 82, p. 751; V. 84, p. 158; V. 85, p. 1518; V. 89, p. 1279.
EARNINGS.— For year ending June 30 1909 (92 miles), gross, $393,0631
net over taxes, $113,387. Pres., Wirt H. Cook;Sec., David O. Anderson.
— (V. 88, p. 563, 623, 882; V. 89, p. 1279.)
DULUTH SOUTH SHORE & ATLANTIC R Y.— Operates Duluth to
Saulte Ste. Marie, 415 miles: "Sou” Junction to St. Ignace, 43 miles; other,
135 miles; total, 593 miles, Including 7 miles of trackage.
CAPITAL STOCK.—Common stock Is $12,000,000; pref., $10,000,000;
par, both $100. Pref. stock Is 6% non-cum. Can. Pac. July 1 1909
owned $6,100,000 com. and $5,100,000 pref. stock, $3,000,000 Incomes
and $15,107,000 consols.

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T h u r b e r x ------.— A J l a n k s v i U ^

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52

KAIL WAY STOCKS AND BONDS

‘
RAILROAD COMPANIES
lFor abbreviations, A c., see notes on first page]
Elmira & Williamsport (Cone .)— First M ext 1910__
Income bonds sou years 10 run.... ......................... c»
Erie it Pittsburgh— Stock 7% rental 999 yrs Penn Co
Special guaranteed betterment stock $2,500,000__
General mtge (now llrst) $4,500,000 gold guar.-Un

Miles Date
Road Bonds
731*
85
85
85

Second pref stock 4% non-cum redeem at par____
First pref stock 4% non-cum, redeem at par______
A— Old Bonds Assumed— Roads Consolidated
N Y & Erie 1st M Plerm to Dun ext 1897 gold -.c*
447
447
Second mortgage (extended In 1879) gold___ c*
Third mortgage (extended In 1883) gold______c*
447
Fourth mortgage (extended In 1880) gold----- c*
475
Fifth mortgage (extended In 1888) gold______c*
475
60
Erie R y 1st M Bull Br Hornellsv to Attica gold -.c*
526
First cons 4 mtge $30,000,000 gold $ or £ ..F ,c * c
N Y L E & West first cons mtge gold___________ c*
526
Buffalo N Y A Erie 1st M (Buffalo to Cornlng)..c*
140
Buir & S W 1st M g ext 1908 red 105 g.._ ___ xc*
67
Newburg & NY 1st M gold extended In 1889----- c*
12
B— Bonds on Properties Controlled by Ownership of En
Bergen Co RR 1st M Ruth Jet to Ridgewood N J . .
in
Ch A Erie 1st M g (Marlon O to Ham’d Ind) . -Ce.c*
250
Chicago & Atlantic Terminal first mortgage g - . Ce
cGoshen A Deck't’ n 1st A 2d M’s ($60,000 are 2d).
cMont A Erie 1st A 2d M’s ($40,500 are 2ds)_____
Jeffers m 1st & 2d M’s ext In ’ 87 A ’89(H’daleBr) c
8
1st M Carbond to S depot g ext In '09 red 105FP.C*
37
Long Dock Co cons M g (now 1st M) (see text)__ c*
cN Y A Greenw I. prior lien M $1,500,000 gold.. N
52
&New Jersey & New York 1st M (reorganization) _c*
34
General mtge $1 ,200,000 (red 105 after 5 yrs) gold
N Y L E A W C RR 1st M “ lawful m on ey ".. M p.c*
N Y L E A VV D & I Co 1st M (V 56 p 82)........ F.c*
N Y Pa & Ohio prior lien mtge gold $ or £ ------F.c*
422
Do Leased lines—see separate statements for Cl evelan
cN Y Susquehanna A Western— Northern New Jers ey— T
C— Erie Railroad Company Bonds
Second M on Buff & S W gold ext 1908____ G.xc*
67

1860
1863
1890

Par
Value

Amount
Outstanding

5963,000
$1,000
4
570,000
5
500
7
50 2,000.000
7
50
1,420,750
4,259,000
1,000
3 Vi g
100 112,378,900
100 io;ooo,ooo See text
100 47,892,400 See text

1847
1.000
2,482,000
1849
1.000
2,149,000
1853
1 .000 4,617,000
1857
1,000
2,926,000
1858
500 &c
709,500
1861
200 &c
182,400
1870
1 ,000 16,891,000
1878
500 &C 3,699,500
1876
1,000
2,380,000
1877
50 <Jcc 1,500.000
1868
1,000
250,000
tire (*) or a Maj orlty (b) of
1881
200,000
1,000
1890
1,000 12,000,000
300,000
1888
1,000
68-69
246,500
6ft-f>7
300,000
67-69
500 &c
1889
1,000
2.800,000
1885
1,000
7,500.000
1 ,471,600
1896
100 &c
1880
500 Ac
400,000
629 ,500
500 Ac
1892
1 .100,000
1,000
1882
1,000
3,396,000
1883
500 &c
8,000 000
1880
d A M ahonlng Valley RR
loga R R— See e ach compan
1895

Rate
%

1.000

1,000,000

[VOL.

When
Payable
J
A
j

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

<& J Jan 1 1 h5 '
Broad St Station. Phlla
& O Oct 1 2862
lio
a.
Dec 10 *09 1 */, Union Trust Co New York
Dec 10 ’09 1 V,
do
do
& J July 1 1940
do
do

y— M
y— M

Seml-ann Apr 1907 2%
Seml-ann pr 1907 2%

M & N May 1 1947
M & S Sept 1 1919
M A S Mch 1 1923
A A O Oct 1 1920
J A D June 1 1928
-I A J July 1 1931
M A S Sept 1 1920
M A S Sept 1 1920
-I & D Juhe 1 1916
.1 A J July 1 1918
J & J Jan 1 1920
tock, or by (c) Lease
A & O Apr 1 1911
M A N May 1 1982
J A J July 1 1918
Various 1928-1929
19?fi-1927
4H A 6 J A J July 1 1927-29
5g
A A O Apr 1 1919
A A O 1 »ct 1 1935
6g
M A N May 1 1946
5g
6
M A N Apr 3 1910
5
J A J Jan 1 1933
6 cur M A N May 1 1922
6
J A J July 1 1913
4 m : M A S Mch 1 1935
and Shar on Ry
y
4g
5g
4 )•$ g
5g
4g
4g
7g
7Z
7
5g
5 g
Capital S
6
5£
5g
6

5g

j

LXXXX.

A

J July 1 1918

J P Morgan A Co N Y
do
do
do
do
do
do
do
do
do
do
do
do
do

do
do
do
do
do
do
do
do
do

50 Church St New York
do
do
0
do
50 fJhnrnh St,
1 Id , I I I )

' n is

50 Church St New York
I P Morgan & Co, N Y
do
do
do
do
do
do
do
do
do
50 Church St, New York

BONDS, &o.—Abstract first mortgage, V. 45, p. 274.
those of the Dawson Fuel Co. (51,000,000 each), the latter owning about
The first consolidated mortgage of 1800 has Interest at 4% guaranteed 25,000 acres of coal, mineral and timber lands, being sold In 1905 to the
by Can. Pac., which July 1 1009 held the entire outstanding Issue ($15,107,­ Stag Canon Fuel Co. V. 73, p. 900; V. 74, p. 776; V. 87, p. 1604, 1536.
000) In Its treasury as security for Its 4% debenture stock; consols for 54,­
STOCK.—Stock. 512,000.000, all of one class
In May 1905 Phelps.
803,000 are reserved for prior bonds, and additional amounts may be Issued Dodge A Co. Interests, It Is understood, acquired entire stock of system
at 520.000 per mile of new lines. Car trust 4 Hs of 1000, V. 82. p. 452. Due
BONDS.—The New Mexico Ry. A Coal Co. coll, trust 5s of 1897 are
Canadian Pacific Ry. June 30 1009 for guaranteed Interest advances, secured by the stock and bonds of El Paso & N. E. Ry. of New Mex. (52.­
55,262,235: on general account, 52.988; unguar, car trusts, 5236,213.
700.000 of each), the stock of the El Paso A N. E. RR. of Texas, 5300,000
LATEST EARNINGS.— f 1009............ Gross, 51,483,378; net, 5498,390
(no bonds Issued), and all the stock (52,500,000) and all the bonds (51,500,­
mos., July 1 to Nov. 30. \1908_______Gross, 1,170,630; net. 316,705
000) of the New Mexico Fuel Co., the latter covering 3,500 acres of coal
Surplus over charges, 550,774, against deficit 560,809 In 1908.
lands. Of the first and consolidated and coll, trust 5s of 1901, 53,000,000
are reserved to retire the coll, trust 5s of 1897 and 52,000,000 are applicable
RE PO RT.— Report for year ending June 30 1909 In V. 89, p. 841.
for Improvements and new equipment. V. 74, p. 776.
ui tne tonnage in iuun-uu, ores turmsneci
, lumper, &c., 2.‘>%.
The bonds of the Alamagordo A Sacramento Mtn. R y.. of the El Paso A
Year—
Gross.
Over. Inc. Other Inc. Charges. Bal.,Def.
Rock Island and those of the Dawson Ry. A Coal Co. are guaranteed.
1908-09.................... 52,785,587 5544,086 5146,209 5891,742 5201,447
1907-08..................... 2,986,958
547,826
30,405 889,224
310,993
EARNINGS.— 5 m os.,11909..............Gross, $2,962,257; net, $1,244,653
Pres., W. F. Fitch, Marquette, Mich.— (V. 89, p. 410, 814.)
July 1 to Nov. 30. 11908..............Gross, 2,784,205; net, 1,156,322
REPORT.—
For year ending June 30 1909, of entire El Paso A South­
DULUTH WINNIPEG &’ PACIFIC RY.— Owns entire stock of Duluth
N Y.
Rainy Lake & Winnipeg R y. extending from Virginia, Minn., north to a con­ western system (866 miles), gross, 57,274,014; net, 52,384,905.
nection with the Canadian Northern at International Falls, giving that road office, 99 John St.— (V. 81, p. 508; V. 87, p. 1605.)
access to Duluth and Two. Harbors at the head of the Great Lakes. To
EL
PASO
UNION
PASSENGER
DEPOT.—
Owns
depot
at
El
Paso,
Tex.,
build an extension from Virginia to Duluth, 75 miles, and branches and which was completed about Nov. 1 1905. Leased by El Paso Northeastern,
spurs for Industrial and mining purposes; also docks at Duluth, where El Paso Southwestern, Galveston Harrisburg & San Antonio (So. Pac. S ys.),
valuable sites for terminals have already been secured. V. 87, p. 1605, Atch. Top. <Sc Santa Fe, Tex. & Pac. and Mex. Cent, railroads on a wiieelage
1664; V. 88, p. 563, 623, 882, 1252. Incorporated in March 1909 with basis providing for maintenance anti all charges. Stock, 5240,000, owned
56.000.
000 authorized stock; par, 5100. The 51,525,000 2d mtge. 4s, due
by the six roads named. Of the bonds (see table above), 512.000 Is
1939, are guar., p. & 1., by the Canadian Northern Ry., and the $10,500,000 equally
to be drawn yearly Jan. 1 by lot. beginning 1916, and paid olf at par.
1st mtge. bonds will be when Issued. V. 89, p. 1279.— (V. 89, p. 1279.)
V. 78. p. 104; V. 81, p. in43. Pres., .1. E. Hurley; See., YV. R. Mar'ln,
DURHAM & SOUTH CAROLINA RR.— Durham. N. C., south 30 miles Treas., U. S. Stewart.— (V. 81, p. 1043; V. 82, p. 1496.)
to Bonsai on the Seaboard Air Line. Stock, 5300,000; par, 5100. Bonds,
ELGIN JOLIET & EASTERN R Y.— Owns from Waukegan. 111., on Lake
see table. Year ending June 30 1907, gross, 572,397; net, after taxes, Michigan,
via Spaulding and Joliet, to Porter, Ind., 129.94 miles, and
520,258. Pres., Ernest Williams, Lynchburg, Va.— (V. 81, p. 840.)
branches Normantown to Aurora, 9.65 miles— Walker to Coster, III.— 33.30
DURHAM & SOUTHERN RR.— East Durham to Dunn, N.C., 59 miles; miles; Hammond to Whiting, Ind., &c., 16.39 miles; Rockdale Jet. to Rock­
Durham to East Durham, 2 miles; total, 61 miles. Stock authorized, dale, 6.57 miles; total main line owned, 195.85 miles; spurs to coal mines,
51.000. 000; outstanding, 5600,000; par, 5100. Bonds, see table above. Ac., 36.24 miles; trackage. Chic. & West. Ind., 4.8 m.; Belt Ry. of Chicago,
For year ending June 30 1908, gross, 5251,698; net, 5127,859; other re­ 2.05 m.; 2d track, 29.91 m.; sidetracks and yards owned, 118.81 m.; total
ceipts, 54,876; charges. Including taxes, 538,255; dividends (6% ), 536,000; track operated, 387.66 miles. Also leases Chic. L. S. A East, for 60 years
balance, surplus, 558,481. Pres., B. N. Duke, N. Y.; Treas., A. B. Duke; from June 1 1909 and with the U. S. Steel Corp. guarantees its $9,000,000
4 'A% bonds, p. & I. V. 88, p. 1372; V. 89, p. 1410. Owned by Federal
Sec., F. L. Fuller. Office, Durham, N. C.
Steel Co. and so by U. S. Steel Corp.
DURHAM UNION STATION C O — Owns passenger station at Durham
STOCK.—$10,000,000. being Increased from $6,000,000 In June 1909;
N. C., opened May 1 1905 and used by the Southern Ity., Seaboard Air Line par,
$100. Dlv., 4% yearly (In Dec.) In 1899 to 1909.
R y., Norfolk A Western Ry. and Durham & Southern, which each own oneEARNINGS.— 5 mos., 11909..........Gross, $3,048,248; net, $1,762,451
fourth of 533,30U stock. Lease nrovldes for rental by several lines sufficient
July 1 to Nov. 30.
/ 1908______ Gross, 2,772,666; net, 1,035,943to pay lnt. and other charges. Pres., H. W. Miller; Sec., G. N. Freeman.
For 5 mos. of 1909, 770 miles operated (Inel. C. L. S. & E., against 744
EAST BROAD TOP RR. & COAL CO. (Pa.)— Owns from Mount Union, miles In 1908.
Pa., to Woodvale, Pa., 31.13 miles; Orblsonla to Groves, 1.70 m.; Booker Year end. June 30. Gross.
Other Inc. lnt., Ac. Surplus.
Net.
Jet. to Booker, 2.36 m.; operates Shade Gap R R ., 4.77 m.. and Rocky R R ., 1908-09............... -$2,954,969 $1,008,203 $183,113 $023,663 5507,653
4.93 m.; total, 44.89 m. See V. 75, p. 77. A coal road opened ,n 1874. 1907-08.............
179,052
468,126
2,389,862
441,318
730,401
Stock, 5815,589 (par 550). of which 5247,189 Is 6% non-cum. pref. First 1906-07................. 2,715,916
16,774
425,000
842,791
434,565mtge. 4s (5500,000) extended In 1908 to Jan. 1 1958. Second mtge. 4%
Dividends
(4
%
),
paid
yearly,
$240,000.
Pres.,
A.
F.
Banks.—
(V. 88,
Income bonds, 5466,705, due Jan. 1958, given In 1908 for back Interest
from 1885. Car trusts, 542.000; lnt., 6% , payable J.-D. Year 1008-09, p. 1127, 1252, 1372; V. 89, p. 41, 1410.)
gross, 5180,659; net, 582,622; other Income, 510,511; Interest on bonds,
EL,MIRA & LAKE ONTARIO RR.— Owns from Canandaigua, N. Y .. to
&c., 522,520; balance, surplus. 570,613. Pres., R. S. Slebert, Orblsonla, Chemung
Jet., 64 m.; Sodus Point to Stanley, 34 m.: other, 2— total, 100 m.
Pa. Office, 406 Lafayette Building, Philadelphia.— (V. 77, p. 145.)
Leased at cost of operating to the Northern Central, which owns all the
EAST AIAHANOY RR.— Owns from East Mahanoy Junction to St. $1,500,000 stock. Lease may be terminated on 30 days’ notice.
Cal. Year—
Gross.
Net.
Int., Ac.
Balance.
Nicholas and branches, 11 miles; 2d track, 2.10 m.; total track. 19.70 m.
$66,897
$191,527
dcf.$124,630
Re-leased Dec. 1 1896 tor 999 years to Little Schuylkill Nav. RR. & Coal Co. 1008............................ $1,055,139
61,918
130,660
dcf. 68.742
at 5% on stock, and lease assigned to Phlla. & Reading Ry. Of the stock 1907............................. 1,248,549
5280,000 was deposited by Reading Co. under Its general mortgage.
ELMIRA & WILLIAMSPORT RR.—Owns from Williamsport, Pa., to
EAST PENNSYLVANIA RR.— Owns Reading, Pa., to Allentown, Pa., Elmira, N .Y .,7 3 .4 ) miles. Leased to the North. Cent. Ry. for 999 years
35.38 miles; 2d track, 27.17 m.; all track, 87.50 miles. Leased for 999 years from May 1 1863. The dlvs. on the com. stock tire 5% and on the pref. 7 % ,
from May 1 1869 to the Phlla. A Reading R R . at a rental of 6% per annum less taxes, making dlv. on com. 4.76% and on pref. 6.60% . The $063,000’
on the stock and Interest on the bonds. Lease assumed In 1896 by the 1st 6s due Jan. 1 1910 were extended to Jan. 1 1950 at 4% . V. 89. p. 1667.
Phlla A Read. Hallway Co. Of the stock. 51,096,700 wasowned by Read­ Year ending Dec. 31 1908, gross, $1,606,381; net, $383,022; rental, $154,ing Co. June 30 1009. 51,092,850 being deposited under gen. mtge. of 1897. 536.— (V. 89, p. 1667.)
ERIE & PITTSBURGH RR.— Owns New Castle. Pa., to Girard, Pa.,
EAST TENNESSEE & WESTERN NORTH CAROLINA RR.—A narrowgauge road from Johnson City, Tenn., to Cranberry, N. C., 34 miles. Ex­ 79.56 miles: branch to Erie docks, 3.41 m.; trackage to Erie, 16.74 m.; total
tension from Johnson City to Hampton, Tenn., 15 m., was completed as operated, 99.71 miles. Leased to Penn. R R . for 999 years In 1870 at 7%
third rail In Dec. 1906. Stock, 5501,900. Controlled by the Cranberry on stock and Interest on bonds, and lease transferred to Penn. Co. Under
Iron A Coal Co. For year ending Juno 30 1909, gross, 5222,177; net, agreement of Nov. 1 1905 the Penn. RR. will provide sinking fund Install­
debentures
5105,706: other Income, 53,907; lnt., taxes, &c., 33,697; bal., sur., $75,­ ments required by the gen. mtge., the E. & P. to deliver Its 3
915. Dividend (4% ), 520,076, paid out of accumulated surplus. Pres., at par for such advances and at maturity of the gen. mtge. bonds to ex­
change new mtge. bonds therefor. Debentures outstanding June 1909,
F. P. Howe, Philadelphia, Pa.— (V. 82. p. 333, 1379.)
5192,843 (Interest J. A J.).
EASTERN KENTUCKY RY.— Riverton to Webbvllle, K y., 36 m. Stock,
The special betterment stock (52,500,000 auth.) Is subordinate
common, SI,697.800; preferred, 51.779,500; par, 5100. No bonds. Bills to STOCK.—
old stock, but guaranteed 7% dividends. i)lvldends on old stock
payable and car trusts June 30 1908, 551,008. Year 1907-08, gross. $50,­ are the
subject to a 4-mIIl tax on assessed valuation, those on spcclai betterment
399; net after taxes, 5421.
stock are tax-free.
_ EL PASO & NORTHEASTERN CO.— Owns the El Paso A Northeastern
EARNINGS — The profit to the lessees in 1005 was 5442,059’ In 1906,
R y., from El Paso, Texas, northeast 165 miles, to the Salado coal fields; 5475,744; in 1907, 5634,366; In 1908, $90,476.— (V 84, p. 749.)
controls and operates El Paso A Rock Island R y., Carrlzosa to Santa Rosa.
ERIE RAILROAD.— (See Map on adjoining page.)— Embraces trunk­
128 m.; Alamagordo & Sacramento Mtn. R y., Alamagordo. N. M.. to
Russia, 31 m.; Dawson R y., Liberty, N. M., to Dawson, 133 m.; total, 457 line from Jersey City, opposite N. Y. City, to Chicago, 111., 998 m.. and
miles. Name changed from New Mexico Ry. & Coal Co. In 1905. Operated branches, 1,397 m.; total, 2.395 m.; second track, 895 m.; 3d and 4th tracks.
as eastern illy n of El Paso & Southw’n Co., lessee, the western dlv’n being 33 miles; total, all tracks, 3,323 miles.
tug,Ei Paso & Southwestern R R ., El Paso. Tex., to Benson. Arlz., with brs.
Lines owned in fee—
Miles. aJclferson R R ________________ *4 5
The El Paso & Rock Island Ry. was Incorporated In 1902 with 52.500,000 Plermont, N. Y ., to Dunkirk.. 447 N. Y. A Greenwood Lake R R . *52
stock (of which 60% owned by the El Paso & Northeastern Co.) and Buffalo to Jamestown, N. Y ._
67 bNcw Jersey & New York R R . *38
5% guaranteed 50-year bonds. It has close traffic agreement Buffalo to Corning, N. Y ______ 140 Erie & Wyoming Valley R R __
59
with Chic. Rock Island A Pacific for 999 years. V 71 p 1219
Other branches_______________ 144 aNypano R R __________________ *422
The Dawson Railway & Coal Co., stock 53.000,000, has Issued 53,000.000
Stock all (a) or nearly all (b) owned. bTloga R R ...................................
58
collateral trust bonds, which are guaranteed, principal and Interest, and are aChlcago A Erie R R ____________*250 Other lines___________________ 157
lecured by the stock and bonds (53,000,000 each) of the Dawson R y., and
•See this company.




RAILWAY STOCKS AND BONDS.
J an ., 1910.]



54

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c.. see notes on first page]

Miles Date
Road Bonds

Erie Railroad— (Concluded)—
Prior lieu bonds J35,000,000 gold_________ F c*&r
1895
General Hen 8140.000,000 gold....................... c*&r
1895
Penn coll trust M 836 .000,000 g s f (text) ..M e.c& r
1901
First conv mtge 850,000,000 gold Series A . . . S c*&r
1903
_ ,, do
do
do
Series B _________
1905
Coll tr g notes *15,000,000 red par______ Ba.xc*
1908
Erie & Jersey notes secured by E & J bonds___
1907
Various car trusts outstanding June 30 1909______
Avon Geneseo & Mt Morris and Kochester & Genes ee Val ley Sto
Evansville & Ind— 1st M gold guar...................... F.c*
55 1884
Cons M (82,500,000) ggu p & 1 (end) E& TH .F.c*
135 1886
Evansville & Terre Haute— Common stock__________
—
—
Preferred stock non-cumulatlve (see text)...........Ta
Consolidated mortgage (first lien) gold___________
115 1880
First consolidated mortgage gold____________ F.c*
144 1881
Mount Vernon Branch mortgage gold________ F.c*
25 1883
Sullivan Co Coal Branch mortgage gold_______ F.c*
1890
First general mortgage for 87,000,000 gold___ F e*
1892
Equip bonds Series B due 820,000 s-a_________ Ba
1905
do
Series C due 860,000 s-a (V 82 p 627) .Ba
1906
Fitchburg— Preferred 5% rental------------------------------—
Bonds to State of Mass 4% since Feb 1 8 9 7 --.____r
1887
Bonds not mortgage__________________________ c&r
1890
Bonds not mortgage___________________________ c*
1894
Bonds not mortgage ($1,359,000 due 1915)------- c*
’95-96
Bonds not mortgage ($2,750,000 are 4s of ’97) - _c&r
’97-98
Bonds not mortgage ($1,775,000 are 3Hs o f ’01)c&r
'00-01
Bonds not mortgage $2,000,000 authorized__ c*&r
1907
Bonds not mortgage $3,660,000 currency---------c&r
1905
Bonds, not mortgage $2,400,000 ____________..c & r
1908
Troy & Boston first mortgage (V 53 p 405)----- c&r
1874
Brookline & Pepperell plain bonds guar (end)----- c
1891
Vermont & Massachusetts plain bonds guar----- c&r
1903
Fitzgerald Ocilla & Broxton— 1st it $300,000 g red 110
1907
c 'int & Pere Marnuctte— See Pere Marmiette statemen
Florida Ry— First mortgage $4,000,000____________
1909
F'->rida Central— First mtge $200,000 gold (see textj.
1907
Florida Central & Peninsular— See Seaboard Air Line By

Par
Value
$1,000
1,000
1000&c
1,000 &c
1,000 &e
1,000 &c
cks— See
1,000
1,000
50
50
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000 &c
1,000
1,000
1,000 &c
1,000 &c
1,000 &c
1,000 &e
1,000 &c
1,000 &c
1,000
1,000 &o
1,000
100
10,000

Amount
Outstanding

Rate
%

When
Payable

[VOL. L X X X X .
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

$35,000,000
New York and London
4 1? J <fc J Jan 1 1996
35,885,000
4 ft J & J Jan 1 1996
50 Church St. New York
34 ,000,001
F & A Feb 1 1951
4g
do
do
10,000,000
4 g A & O Apr 1 1953
du
11.015,000
4 g A & O Apr 1 1953
do
13,984,000
A & 08 Apr 8 1911
6e
3.000,000
6
D c 11910
662,922
those Comp aides
647,000
Bankers’ Trust Co N Y
6 g J & J July 1 1924
1,853,000
0 g J & J Jan 1 1926
do
do
3,987,383 4 In 1909 Yearly Nov 1 1909 4% Checks mailed
1,283,333 5 In 1909 A & O Oct 15 1909 2M Checks mailed
30,000
Bankers’ Trust Co N Y
6 g J & J July 1 1910
3,000,000
do
do
6 g J & J July 1 1921
375,000
do
do
6 g A & O Apr 1 1923
450,000
do
do
5 g A & O Apr 1 1930
3,145,000
do
do
5 g A & O Apr 1 1942
200,000
4H g F & A Aug ’ 10-Feb ’ 15 Blair & Co New York
720,000
do
do
4 H g F & A Aug ’ 10-Feb ’ 16
18,460,000
5
0 — T Jan 1 ’ 10 1 % Office, Boston & Me Best
5,000,000
4
M & N Feb 1 1937
Office FItchburgRR.Bost
500,000
4
do
J & D June 1 1920
do
500,000
do
do
4>S M & N May 1 1914
1.859,000
4
Various 1915 and 1916
do
do
4,200,000
4
Various !927-1928
do
do
2,275,000
3H A & O Oct 1 1920-21
do
do
2,000,000
4
A & O Apr 1 1927
do
do
3,660.000
4
M & N May 1 1925
2,400.000
M & N May 1 1928
do
do
573,000
7
r & J July 1 1924
do
do
100.000
5
T & D Dec 1 1911
772,000
M & N May 1 1923
do
do
3H
150,000
6g
I & J July 1 1937
Owned by Atl B & C’stCo
S?e text
200,000

5
6g

T & J July 1 1959
M & N Nov 1 1910-14

Carnegie Trust Co, N Y
Bank of Thomasvllle Ga

Leased lines—
Miles \ Leased to Nypano RR.
Car Trust Series, Cold (Denomination $1,000 each.)
Avon Gen. & Mt. Morris------- *13|Clcve. & Mahoning Valley U R . *81
Date. Interest.
Mature in Installments.
Montgomery & Erie---------------- *l0|Sharon R ailw ay________
*32 “ H”’ .............1905
4
J&D 1,100,000 June ’ 10-June '14 $100,000 s -a.
Northern R R . of N. J ________ *26|Other lines___________________
54 ..j”
J&D 4,550,000 June ’ 10-June '16
350,000 8.-a.
Goshen & Deckertown________ *12 |Trackage_____________________ 221 *\PV...............1906 4
M&N
668,000 Mav’ 10-Nov. ’ 16
47.000 s .-a .
Rochester & Genessee V alley.. *181
'
II------ _
’ '' .............1907 4 W A&O
435,000 A ug.’ 10-Feb. '17
29,000 s.-a.
46 ILines In system June 30 ’ 09___ 2,395 “" K
Other lines----------------------------L” .............1907 5
J&J
1,605.000
To July 1917
10 LOOO 8.-a
♦See this company.
|N. Y. Susquehanna & W e s t... *236
*MH’ .............1907 5
J&J
435.000
29,000 s.-a.
To July 1917
HISTORY.— On Dec. 1 1895 succeeded, per plan In V. 61, p. 368, the "N ” .............1907 5
A&O 2,432,000 Apr. ’ 10-Oct. ’ 17
152,000 s a.
N. Y. Lake Erie & Western RR Co., sold In foreclosure under its 2d con­
A&O
800,000
To Oct. 1917
50,000 s. a.
solidated mtge. The company holds In fee or throhgh ownership of all
Q.-F.
233.419
To Aug. 1912
or practically all the stock of the Independent companies the One from
Interest paid: ‘ J and " L ” in New York; Series “ H ” at Girard Trust
New York to Chicago (Including the Nypano RR. and Chic. & Erie com
Co., I hlladclphla; Series “ I ” at Penn. Co. for Insuranceson Lives, &c.,
panles), and also all subsidiary lines except a few small properties
Philadelphia; Series " K ” at National Bank of Commeicc, New York;
COAL AND STEAMBOAT PROPERTY.— The Erie coal properties rep
M” at Girard Trust Co., Philadelphia; Series ” N” at First National
resent an aggregate of 12,400 acres of anthracite, of which about 9,000 aert-i- Series “New
York; Series "O ” at Central Trust Co., New York.
are held In fee; also 53,000 acres of bituminous coal lands held In fee, 14,000 Bank.
In Feb. 1909 plans for refunding the maturing principal of car trusts
acres of bituminous held under mineral rights. Its coal tonnage In the were
under
consideration. V. 88, p. 882.
year 1908-09 aggregated 16.843,417 out of the 32,797.205 tons hauled.
Long Dock 6s. see March 1894 “ Supplement.” under N. Y. L. E. & W
The Union Steamboat Line (merged In Erie RR. Co. June 30 1896), has
FINANCES.— During the year ending Juno 30 1909 the company an­
terminal, &c., properties In Buffalo and 8 lake steamers. See V. 63, p. 514.
nounced that various coupons (aggregating about $5,000,000) would be
The Penn, coal properties sc lulred In loot are additional. V. 82 n.1322
STOCK.—The voting trust was dissolved May 1 1904. V. 78, p. 1649. purchased on presentation to J. P. Morgan & Co. in order to leave the
The prior lien and the general lien bonds of 1895 have 10 votes for each $1,­ company funds for Improvements and additions. Coupons due July 1 1909.
000 of principal, their authorized Issues aggregatlnr $175,000,000. of which to a total of $1,000,000 were also purchased (V. 88’ p. 1620), and $3,­
880.342.000 Issued In July 1909. Provisions of preferred stock were In 522,000 of the remaining $4,500,000 of the 15 million note Issue of 1908
"SuDDlement” of April 1897, page 3. V. 66. n. .335. 673.
was sold, secured In part by these coupons. The Improvement In the finan­
cial outlook has led the management to abandon, at least for the present,
DIVIDENDS (cash) % 1 ’01. ’02. ’03. *04. ’05. *06
1907. ’08.
the Issuance of any of the $30,000,000 bonds which were to bo used to take
3 > $4
4
4
On first preferred_________ ) 1 K 3
Apr., 2 0
up the aforesaid note Issue and to fund the $11,380,000 coupons maturing
On second preferred............j . .
. . . . __ 2 4
Apr., 2 0
on the prior lien bonds and general lien bonds during the five years ending
BONDS.—The new first consolidated mtge. is for $ I 75.00o.uuu 1 Farmers’ June 30 1914, and It Is expected that from now on these coupons will be
Loan & Trust Co., trustee)—see abstract of deed V. 62. p. 8u, and secures paid, not merely purchased. Compare V. 80, p. 1086; V. 87, p. 1245;
$35,000,000 prior lien and $140,000,000 general lieu bonds. Both series V. 88, p. 504, 853, 882, 1061, 1127.
have voting power: see ‘ ‘Stock’’ above.
EARNINGS.— 5 mos., 11909.......... Gross, $23,871,534; net, $7,148,093
Of the $140,000,000 general lien bonds, $92,073,000 were reserved for the
July 1 to Nov. 30.
J1908.......... Gross, 22,075,210; net. 5,857,336
ultimate acquisition of bonds and guaranteed stocks left undisturbed on
various parts of the system (see list V. 62, p. 89), and $17,000,000 were
ANNUAL REPORT.— Fiscal year ends June 30. Report for 1908-09
reserved for new construction, betterments, additions, &c., after 1897,
given at length in V. 89, p. 1064, 1083; editorial, p. 1040.
not over $1,000,000 to be used In any one year.
„„
1908-09.
1907-08. Inc. or Dec.
The position of the first consolidated mortgage Is substantially as follows: Miles operated......................................
2,231
2 ,1 7 1
+60
It Is a first lien (mortgage or collateral, the prior lien bonds, however, pre­ Gross earnings.....................
$50,441,162 $49,784,236 +$656,926
ceding the general lien bonds) upon the co’s chief coal properties (except Working expenses................................ 36,904,285 41,031,696 — 4,1 2 7 , 4 11
Penn. Coal Co.) upon Its water transportation lines (Including valuable ter­
minal properties appurtenant thereto), and upon a number of profitable
Net earnings________.*____
$13,536,876 $8,752,540 + $4,784,336
local lines In New Jersey and near Buffalo: it Is a second lien upon certain Interest on securities............
. $2,537,451
$664,290 + $1,873,161
minor coal properties and upon the railroads leading to all the coal proper­ Rents, &c., received...............
.
738,552
2,252,208 — 1,513,650
ties, upon the terminals at Jersey City, upon the Buffalo N. Y. & Erie RR.
(the main line to Buffalo), and the Buffalo terminal properties other than
$16,812,879 $11,669,038 + $5,143,841
those upon which It Is a first lien, and upon the entire line from Salamanca Interest on bonds..........
.. $9,669,733 $9,662,561
+ 57,172
to Chicago: It Is a second consolidated mortgage upon the lines between Pler- Interest on collateral notes........... .
520,327
+ 520,327
mont and Dunkirk (447 miles).
Rentals of leased lines____
__ .
983,587
984,753
— 1,166
The collateral trust 4s of 1901 are secured by 51% of the entire N. Y. Hire of cqulp’t and joint facilities
820,399
1,179,051
+ 358,652
Susq. & Western stock ($26,000,000 total Issue), all of the Pennsylvania Interest on car trusts___________ .
722,643
733,164
+ 10,521
Coal Co stock, and the stock of the Erie & Wyoming Valley RR ., Scranton
1,102,104
Penn. Coal Co. sinking fund and ml ;
779,373
— 322,731
Pa., to Lackawaxen, 65 miles, and Delaware Valley & Kingston RR. A Additions and Improvements___
575,804
— 193,877
381,927
sink, fund of 10c. per ton of coal sold purchases bonds at not exceeding 105,
otherwise to be applied to the drawing of bonds by lot, all such bonds to be
Balance, surplus or deficit___ sur.*2,565,717def.2,199,226 +4,764,943
kept alive and the accruing Int. thereon to be added to the sinking fund
* In addition to $1,199,646 Income from dividends on stocks owned or
which. It Is estimated, will be sufficient to retire the whole Issue at or before
controlled,
$945,000, was received from earnings of coal companies In pay­
maturity. V. 71, p. 1210, 1311; V. 72, p. 44. and circular, p. 136, 532,257.
V. 79, p. 212. In 1901-00 $3,139,000 Included above as outstanding was ment of advances with Interest. The principal of this debt was credited
to capital account and the Interest to profit and loss.
purchased by the sinking fund.
The conv. 4s of 1903 ($50,000,000 authorized Issue) will be Issued from
OFFICERS. —I’ res . F D U iderwood; V.-P. and Gen. Solicitor, O. F.
time to time as required and may be made convertible Into com. stock at a Brownell; Vice-Pres., G. A Richardson; Sec., David Bosnian; Treas., D. W.
price to be fixed when the bonds are Issued, but not less than $41 % per BIgoney; Comp., M. P. Blauvelt, 50 Church St., New York.
share; they will cover all the company’s property subject to underlying liens.
DIRECTORS.— Chas. Steele. J. J. Goodwin. John G. McCullough,
The first $10,000,000 (series A) issued for Improvements and equipment Is Ogden Mills, F. D. Underwood, G. A. Richardson, Francis Lynde Stetson,
convertible on basis of $100 bonds for $200 stock to April 1 1915.
Geo. F. Baker, Norman B. Ream, H. McK. Twombly, Charles A. Peabody,
Series B bonds for $12,000,000 are convertible Into common stock at E. H. Gary, Geo. W. Perkins, R . S. Lovett, L F. Loree, Wm. P. Hamilton.
$60 per share at any time since Oct. 1 1907 and before Oct. 1 1917. V. 76, — (V. 88, p. 1620; V. 89, p. 41, 224, 286, 1064. 1083, 1410.)
p. 382, 541; V. 78, p. 768: V. 79, p. 2205; V. 84, p. 270.
EVANSVILLE & INDIANAPOLIS RR.— Owns Evansville to Terre
The Erie & Jersey R R ., with $600,000 auth. stock, completed In Jan. 1909
Ind., (via Worthington) 134 in.; leases branch. 12 m. A consolida­
low-grade cut-off from Highland Mills, via Campbell Hall, to Guymard, Haute.
In 1885. Of the consols, $647,000 are held to meet lsts due 1924. The
N. Y ., about 40 miles. In June 1907 $3,000,000 3-year Erie & Jersey 6% tion
consols and the bonds of 1924 are guaranteed by Evans. & Terre Haute,
notes were sold, secured by $4,000,000 E. & J. bonds (auth. Issue $10,000,­ which
owns capital stock, $2,000,000. Company owns no equipment.
000 1st 50-year 4s). V. 80. p. 2621: V. 84, p. 693, 1366: V. 87, p. 1160.
In 1906-07, gross, $439,356; net, $128,617; Interest, taxes, &c., $195,553;
In June 1907 the Genesee River R R . was authorized to make $6,000,000 balance, deficit for year, $66.936.— (V. 75, p. 980; V. 89, p. 103, 410.)
mtge. covering road under construction from Hunts to Cuba. N. Y ., 30 m.
EVANSVILLE & TERRE HAUTE RR.— [See Maps St. Louis * S. F .)—
A loan of $2,000,000 due 1910 was obtained, secured by Its bonds. V. 84,
p 1366, 1488: V. 81, p. 777.
Road owned and operated. Miles. | Controlled and operated. Miles.
Evansville
to Terre Haute............ 109 |Evansville & Indianapolis. EvThe Issue of $10,500,000 of the 6% 3-year collateral gold notes authorized
In 1908 (of which $38,000 were later retired by the sale of part of the collat­ Itranches to Mt. Vernon, &c.........501 ansvllle to Terre Haute via
5| Worthington. &c...................... 146
eral) had as collateral security In May 1909 the following: $9,457,000 Erie Evansville Belt (stock held)___
R R . Co. ■general lien” bonds (additional to the $35,885,000 shown above as
Total In earnings__________
____________31 0
outstanding): $985,000 Erie R R . Co. "convertible bonds, Series “ B” ; Leased to other companies Rockvlile'extension 111111111.1.1 -............... 23
$567,906 Mutual Terminal Co. of Buffalo first mtge. bonds; $336,000 Erie
Chic. & East. Illinois owns $3,186,450 of the com. stock. V. 81, p. 1242.
R R . Co. Pennsylvania collateral bonds; $1,338,063 Hocking Valley Ry.
DIVS. ’ 94. ’ 95. ’ 96. ’ 97. ’98. ’ 99. ’ 00. ’01. ’02-’ 05. ’06. ’ 07. 08. 1909.
Co. com. stock; $145,700 Temple Iron Co. capital stock; $101,840 Lehigh
2
3 1 yi None.
4
4 4
4
& Hudson River Ry. Co. capital stock; $5,000,000 Interest obligations 9,on}-~Z° — - - - - - - - Pref-_% . . . .
l
1
2 4H 5 5 5 y ’ly.
5
5 5
5
and coupons of Erie RR. system, purchased from holders during 1908-09.
On preferred 5% declared. 2 H% paid Oct. 15 1909 and 2
April 15 '10.
In May 1909 $3,522,000 of the remainder of the aforesaid notes was sold
for cash and arrangements made under which $1,027,000 further coupons
GUARANTIES, &c.— Certain Evansville & Indianapolis bonds
and Interest obligations maturing on or before July 1 1909 were purchased areBONDS,
See that company. General inort. 5s for $3,855,000 are
and deposited thereunder, as well as $1,000,000 additional general lien heldguaranteed.
In
trust
to retire the prior bonds and car trusts at maturity.
bonds which the company is entitled to Issue annually for additions and
betterments and $409,000 car trust certificates. V. 86, p. 856, 917, 1460­
EARNINGS.— 5 mos.,11909................ Gross, $1,085,998; net. $469,855
V. 87, p. 37; V. 89, p. 1085, 1086.
July 1 to Nov. 30.
J1908------------- Gross,
951,953; net, 362,747




J a n ., 1010. J




KAILWAY STOCKS AND BONDS.

55

56

RAILWAY STOCKS AND BONDS,

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

M iles Date
Road Bonds

Florida East Coast— 1st M $12,000,000 goldBa.xc*r*
1909
General Income mortgage, $25,000,000 ______
1909
Florida West Shore— See Seaboard Air Line.
26 1881
Fonda Johnstown & Gloversville— Cons M $500,000.c
First consol refunding mtge $700,000 gold___ N.c*
26 1897
26 1900
General refund mtge $1,500,000 (V 71 p 3 4 ).. N.c*
4 1893
Johnstown G & Klngsboro first mortgage assumed.
14 1892
Cayadutta Elec 1st M guar p & 1by F J & G gold - . N
75 1902
First cons gen ref M $7,000,000 g red 120 . N.c*Av
163 1907
Ft D Des A1 & So— lstM$3,500,000 g red 105(text)OB
163 1907
Refunding mtge $6,500,000 gold red par (text) - . AB
Fort Smith & Western— 1st M $7,500,000 gold-.M e.c*
__ 1904
Fort Wayne & Jackson— Preferred stock 5)4% rental
98 —
Ft Worth & Denver City— Pref stock "stamp certs" 4s
_ —
First mortgage gold $18,000 per mile________ Me.c*
455 1881
Equip trust certs guar due $39,000 s-a redeem 101..
1906
__ 1907
do
do Series B due s-a redeemable 101----- G
Gainesville Midland— First M $1,000,000 g red at 110
74 1905
Galveston Harrisb & San Antonio— 1st M g land gr.c*
256 ■71-80
Western Division first mortgage g o ld ...................c*
671 1881
Galv IIous A Nor first mtge (owned by South Pac).
56 1900
N Y Tex & Mex 1st M gold $ or £ guar by So P .F .c*
91 1882
do
do
do
not guaranteed__
91 1882
Galveston Houston & Hend of 1882— First M ..Ale.c*
50 1883
Galveston Terminal— 1st M $5,000,000 auth gu (text)
1908
_ 1909
Garden City Gulf & Nor— 1st M $15,000 per mile___
Genesee A- \\ yominz RR— First M g Id $500,000 __ K
16 1899
Geneva Corning & Sou— Common stock, guar..
Preferred stock, guaranteed________________
Pine Creek 1st M gu p & I end__ ______ __________r
75 1885
_
First A refund M ($10,000,000 auth)___ p x c'& r*
1909
Georgia & Alabama— Georgia Carolina & Northern — See Se aboard
85 1906
Georgia Coast & Piedmont— First M g $1,000,000 ..G
_ 1907
Consolidated mortgage $3,500,000 g o ld -------------- Cc
Georgia & Fla— Milieu A South 1st M $800,000 g -_ K
53 1905
Georgia & Florida mortgage $12,000,000 gold___ c*
22i 1907
Georgia Florida & Alabama— First mortgageg. -M ac* Text ■1904
Georgia Midland Ry— First M gold $1,650,000 Int guar
98 1896
Georgia Pacific—See Southern Ry
ANNUAL R E PO RT.— Report for 1908-09 In V. 89, p. 1220.
Evansville A Indianapolis arc Included.
Year ending June 30—
1908-09.
Operating revenue__________________ $2,093,997
Operating Income after taxes_______
061,891
Total net Income___________________
777,874
Interest and rentals_________________
602,758
Dividend on preferred (5 % )_________
61,197
Dividend on common (4 % )_________
159,326

1907-08.
$2,204,069
710,068
991,100
592,048
61,197
159,326

Par
Value

1,000,Ac $10,000,000
______ab t20,000,000
100 Ac
1,000
1,000
1,000
1,000
1,000
1,000
100 Ac
1,000
100
100
1,000
1,000
1 ,000
1,000
1.000
£ or $
£ or $
1,000
1,000
1 .000
1,000
1,000, Ac
Air Line
1.000
1.000
500 Ac
1,000
1,000

Results Of
Inc. ( + ) or
Dec. (— ).
— $110,072
— 48,177
— 213,286
+ 10,710

Balance.......... ................................... def.$45,407 sur.$178,589 — $223,996
Chairman Exec. Comm., B. F. Yoakum, N. Y .; Pres., B. L. WInchell;
Vice-Pres., C. W. Hillard, N. Y .; Sec. A Treas., Gilbert S. Wright, Evans­
ville, Ind.— (V 87 ,p . 1155. 1220.)
FITCHBURG RR.—System extends from Boston, Mass., to Troy and
Rotterdam, N. Y., 251 miles: branches to Worcester, Bellows Falls, Ac.,
207 m.: 458 m. In all. of which 59 m. (Fitchburg to Greenfield) leased from
Vermont A Mass, and 5 m. other cos.; second track 199 m. V. 84, p. 1366.
LEASE.— Leased for 99 years from July 1 1900 to Boston A Maine for 5%
on pref. and 1% on com. stock, payable quarterly (Jan. 1, Ac.), organiza­
tion expenses, Interest on bonds, taxes, expenses of maintenance, Ac. The
Boston A Maine holds $5,454,550 of the $7,000,000 com. stock, purchased
with proceeds of Its 3% bonds at 90, the remainder being In the treasury.
V. 70. p. 76, 125, 176, 583. 1291: V. 71, p. 29. 543: V. 72. p. 532.
BONDS., Ac.— Debentures, see V. 60, p. 967; V. 84, p. 158, 270. On
Jan. 12 1910 $550,000 pref. stock was sold for Improvements and to pay
floating debt. Increasing amount outstanding to $18,460,000. V. 89, p.
778, 1542; V. 90, p. 109, 167.— (V. 89, p. 847, 1542; V. 90, p. 109, 167.) A
FITZGERALD OCILLA & BROXTON RR.— Owns Broxton to Oclila,
Ga.. 25 ndles. with branch to Fitzgerald. 5 m.; leases Oclila to Irwlnvllle,
10 m. V. 84, p. 1551. Stock, $300,000, all outstanding; par, $100,
of which three-fourths, together with all the $150,000 outstanding bonds,
are owned by the Atlanta Blrm. & Coast Co., the construction company of
the Atlanta Blrm. A Atlantic RR. V. 88, p. 41.
In May 1909 a general protective committee for securities of the A. B. &
Atl. requested deposits of both stock and bonds; Manhattan Trust Co., N. Y .,
and Old Colony Trust Co., Boston, depositaries. V. 88, p. 1196.
Year ending June 30 1909, gross, $59,111; net, $7,552; Interest on bonds,
$7,980; bal., def., $428. V. 85, p. 468. Pres. and Gen. Mgr., H. C. MeFadden; Sec. and Treas., C. B. Gwyn.— (V. 88, p. 1196; V. 89, p. 41.)
FLORIDA RY.— Perry to Live Oak, Fla., 52 miles, with branches, 7 m.
An extension from Live Oak to Jacksonville and Fernandlna, 104 miles.
Is proposed; also one from Perry west to a point not yet made public.
Stock authorized, $2,000,000; par, $100. Bonds ($4,000,000 authorized
Issue) are subject to call at 106 on any Interest day after July 1 1914; they
will be Issued at $20,000 per mile. V. 89, p. 1096. Pres, and Treas.,
Frank Drew, Live Oak, Fla.; Vlce-Pres., Geo. L. Drew, Jacksonville, Fla.
Sec., T. P. Alston.— (V. 81, p. 1596.)
FLORIDA CENTRAL RR.— Owns Thomasvllle, Ga., south through
timber lands to Fankw, Fla., 47 ndles; completed April 1908. Projected
to run eventually to the Gulf of Mexico, a total of 65 miles. Controlled by
J. L. Philips Co. Stock. $50,000: par. $100. Bonds mature $40,000
yearly; Bank of Thomasvllle, trustee. Loans and bills payable June 30
1909, $343,907. V. 85, p. 1339. For year ending June 30 1909, gross,
$64,381; net. $35,965; lnt., taxes, Ac., $45,990; def., $10,025. I’ rcs., J. L.
Phillips; V .-P ., J. S. Gordon; Treas., Charles Philips Jr.— (V. 85, p. 1339.)
FLORIDA EAST COAST RY.— (See Map.) —Jacksonville, Fla., via St.
Augustine to Knight’s Key, 477 m.; branches, 97 miles; total, 574 m. V.
69, p. 591. System owned by Henry M. Flagler. Extension from Miami
to Key West (90 miles from Havana, Cuba), about 156 m., (whence ferry
boats to operate to Havana), Is under construction; opened to Knight’s
Key, 111 miles; remainder to be completed by Jan. 1 1911. V. 81, p. 211;
V . 85, p. 921; V. 86, p. 228; V. 87, p. 1478.
Stock was $1,000,000, but additional stock was Issued to provide part
of cost of road and H. M. Flagler has agreed to purchase $4,000,000 to
complete construction of road to Key West.
Of the first 4 Hs of 1909 ($12,000,000 authorized Issue), $10,000,000 were
sold to J. P. Morgan A Co. In June 1909. Of the general mtge. Income
bonds ($25,000,000 auth. Issue), about $20,000,000 have been Issued to
retire outstanding notes and bonds and for construction. V. 88, p. 1620.
Of the $5,080,000 3-year 6% coupon notes dated Aug. 1 and Aug. 15 1907,
of which $3,500,000 mature Aug. 1 1910 and $1,580,000 Aug. 15 1910,
guaranteed prin. and lnt. by H. M. Flagler and secured by pledge of $7,­
258,000 1st mtge. bonds, about $4,000,000 had been purchased by the com­
pany In July 1909 and cash deposited with the trustee to retire remainder.
V. 85, p. 220; V. 86, p. 228.
EARNINGS.— 5 mos., f 1909__________ Gross, $882,577: net, $112,593
July 1 to Nov. 30. ‘ 11908______ Gross, 809,380; net op. def., 81,132
For year ending June 30 1909, gross, $3,373,554; net after taxes, $1,071,
804. In 1907-08, gross, $3,008,346; net, $501,208. Pres, and Gen. Mgr ,
J. R. Parrott.— (V. 88, p. 1002, 1253, 1620
FONDA JOHNSTOWN & GLOVERSVILLE RR.—Owns Fonda to
Northvlllc (steam), 26.2 miles: Gloversville to Schenectady (electric), 32.3
m.; Gloversville to Fonda (electric), 0.34 m.; Amsterdam to Hagaman
(electric), 3.6 m.; Belt line In Gloversville (electric), 3.9 m.; second track
(electric), 21.2 miles. Operates under lease branch line Broadalbln Jet.
to Broadalbln, 6.2 m. (steam): also local line Gloversville to Johnstown
(electric), 4.23 m.; sidings and turnouts, 11.7 m.: total, 97.47 miles of road
(118.67 miles of track), of which 96.87 on private right of way and 21.8
miles on street and highways. Stock, com., $2,500,000; pref., 6% cum.,
$1,000,000, subject to call at 105, authorized Feb. 1909, of which $500,000
sold Apr. 1909. V. 88, p. 883. First dlv. (quar.) on pref., 1)4% . paid
June 15 1909; Sept., 1)4% ; Dec., 1 )4% . Par of all stock, $100.
Owns entire $105,000 slock of Coal Co. of Fulton Co. ami stock of Edison
Electric Light A Power Co. (V. 71, p. 1167.) V. 78, p. 29. Also a twothirds Interest In stock and bonds of Adirondack Lakes Traction Co.. 4 miles.




Amount
Outstanding

Rate
%

[VOL. L X X X X

When
Payable

4H g J

A

Last Dividend Places Where Interest an
and Maturity
Dividends are Payable

D Juno 1 1959

200,000
6
A A O Apr 1 1921
500,000
4)4 g .1 A .1 July 1 1947
800,000
4 g J A J July 1 1950
50,000
6
J A .1 July 1 1913
350,000
6
A A O Oct 11922
4,687,000
4)4 g M A N Nov 1 1952
2,200,000
5 g J A J Jan 11932
2,800,000
A A O Apr 11937
5g
6,240,000
4 g A A O Apr 1 1954
2,291 ,416
M A S Sept 1 1909 2h
5)4
2,539,992 4 In 1909 Yearly Feb 23 1909 4%
8,171,000
6 g J A D Dec 1 1921
J & I)
351,000
5
282,000
5
A A O Apr '10-Apr ’ ll
661,000
M A N Nov 1 1935
5 g
4,756.000
F A A Feb 1 1910
0g
13,418,000
5 g M A N May 1 1931
800,000
5 g .1 A J Jan 1 1930
1,465,000
4 g A A O Apr 1 1912
53,000
A A O Apr 1 1912
6g
2,000,000
5
A A O Apr 1 1913
Mch 1 1938
1,006,000
6
6
600,000
J A J 1949
500,000
5g
A A O Apr 1 1920
2,525,000
3 y,
Q— J Jan 1 1910 //%
O— .T Jan 1 1910 1%
4
5 ^000,000
6
J A D Dec 1 1932
3,500,000
3,744,000
M A N May 1 1959
4g
Ry
609,000
M A S Mch 1 1946
5g
See text
■I A I) 1957
5g
212,000
5 g A A O Apr 1 1955
See text
M A N Nov 1 1957
5g
1,732,000
5 g J A .1 July 1 1954
1,650,000
A A O Apr 1 1946
3g

New York
Imp A Trad Nat Bk NY
New York Trust Co N Y
do
do
Metropolitan Tr Co N Y
Farmers L A Tr Co N Y
New York Trust Co N Y
July ’08 coup last paid
In default
Mercantile Tr Co, N Y
Farmers L A Tr Co N Y
Guaranty Trust Co N Y
Mercantile 'Trust Co N Y
Guaranty Trust Co N Y
Savannah Ga
So Pac Co N Y; A Boston
So Pac Co 120 BwayN Y
do
do
So Pac Co N Y; A Lond
do
do
Mercantile Trust Co N Y
Common’th Tr Co, St L
Knlckerborker Tr Co N Y
Grand Central Sta, N Y
Mackay A Co New York
do
do
Hanover Nat Bank N Y
Manhattan Trust Co N Y
J P Morgan A Co N Y

BONDS.— Of the consol. 4 ^ 8 of 1902 ($7,000,000 authorized), $1,850,000
is reserved to retire prior liens. V. 76, p. 265. Guarantees $30,000 Glov­
ersville A Broadalbln 5s and $50,000 Johnstown Gloversville & Klngsboro
Horse R R . 6s and $50,000 8% stock.
LATEST EARNINGS.— /1909...............Gross, $387,857; net, $229,739
5 mos., July 1 to Nov. 30.\1908...............Gross, 341,057; net, 196,761
R EPO RT.— Foryear ending June 30 1909, gross, $773,819; net, $400,532;
other Inc., $17,729; charges, $377,057; pref. dlv., $3,750; bal., surp., $37,454.— (V. 88, p. 1499.)
FORT DODGE DES MOINES & SOUTHERN RR.— Owns or controls
road from Des Moines, la., to Fort Dodge and extensions to Rockwell City
anti Newton, with 7-mlle branch to Ames and local lines In Fort Dodge and
Ames, all equipped for steam service, and the main line between Des Moines
and Fort Dodge, with branch to Ames, a total of 90 miles, also with electric
power for high-speed passenger service. V. 85, p. 98, 1209; V. 87, p. 1420;
V. 88, p. 101.
STOCK. -Common stock, authorized. $5,500,000: outstanding. $2,000,­
000; pref., 5% non-cum., $1,200,000, all Issued. The bonds cover 3,218
acres coal lands. V. 85, p. 98; V. 87, p. 1420. Coupons are In default.
Year ending June 30 1909, gross, $342,672; net, $123,562.
Pres., Henry Lorlng; V.-P. anil Treas., F. A. Farrar; Sec,, Laurence
H. Parkhurst.— (V. 85, p. 1209; V. 87, p. 1420; V. 89, p. 162.)
FORT SMITH & WESTERN RR.— Operates Fort Smith, Ark., to Guth­
rie, O. T., 216 miles, of which Coal Creek, I. T ., to Guthrie, il)6 m., Is
owned and Ft. Smith to Coal Creek, 20 nt.. Is Kansas City Southern track­
age, to be replaced by company’s own road. Coal properties are developed
at McCurtaln, I. T ., 40 m. west of Fort Smith, producing an average of
30,000 tons per month. In July 1906 acquired 51% of the capital stock of
the St. Louis El Reno & Western R y.. Guthrie to El Reno, O. T., 42 miles.
The latter Is operated Independently.
Stock. $5,000,000, all outstanding; par $100. Of the 4s of 1904 ($7,500,­
000 auth.), $5,833,000 were Issued In exchange for $5,000,000 old 5s,
$400,000 are reserved to renlare the 20 miles of trackage mentioned above,
$400,000 for equipment and the balance for other purposes. Equipment
trust notes outstanding June 30 1908, $459,060. V. 7 7 , p. 88.
EARNINGS.— 5 m os.,/1909-.............Gross, $328,297; net, $69,534
July 1 to Nov. 30. 11908..................Gross, 296,820; net, 36,145
For year ending June 30 1909, gross, $641,448; net, $20,370. In 1907-08,
gross, $647,957; net, $87,908; other Income, $72,991; Interest, taxes, Ac.,
$314,144; bal., def., $152,245. Pres, and Treas., A. C. Dustin, Cleveland,
O.— (V. 83, p. 213, 271.)
FORT WAYNE & JACKSON RR.— Owns Jackson, Mich., to Fort Wayne,
Ind., 98 miles. On Aug. 24 1882 leased perpetually to Lake Shore A Michi­
gan .Southern at a rental of 8126,027, equal to 5)4% on the pref. stock (see
V. 56, p. 812), and after 1887 any net earnings over 8% on pref. stock to bo
paid on com., but not exceeding 2% a year. Com. stock, $436,132.
FORT WORTH & DENVER CITY RY.— (See MapCol. S o.)— Ft. Worth.
Tex., to Texllne, 454 miles. Owns securities of Ft. W. A Den. Term. Ry.
STOCK. Ac.— Colorado A Southern Ry. owns all but $32,822 of the
$6,835,008 com. Issued and all of the stamped stock. V. 63, p. 1063
DIVIDENDS.—On pref., 2 % ,’ 98; ’ 99. 22;,: 1902, 2% ; April 1903, 1904,
1906 to 1909, 4 % each from surplus earns, of previous years.
BONDS.— Finances readjusted In 1896. Plan V. 63, p. 75. Abstract
of mortgage. V. 45. p 440. Equipment trust certificates of 1900. V. 82,
p. 1101: of 1907, V. 84, p. 508. Equip, trust 5% notes of 1908, due June 1,
1913, $104,000. "Pullman” equip, leases, lncl. Int., June 30 1909, $705,102.
The Fort Worth A Denver Terminal Ry. authorized an Issue of $2,500,000,
30-year 6 ’ohonils dated Dec. 1 1907 (Mercantile Trust Co., N. Y ., trustee)
subject to call at 105, of which $728,000 have been Issued, $300,000 sold and
$428,000 held by Ft. W. A D. C. Ry. V. 86,p.52, 1100.1589; V. 87, p.949.
EARNINGS.— 5 m os.,/1909...........Gross, $2,343,875; net, $1,031,742
July 1 to Nov. 30. 11908_____ Gross, 2,209,539; net,
827,346
Pres., Geo. B. Harris.— (V. 82, p. 1156; V. 84, p. 508.)
GAINESVILLE MIDLAND RY.— See page 172.
GALVESTON HARRISBURG A SAN ANTONIO RY.— (See Map South.
Pacific.)— Owns Galveston, via Houston, Tex., to east bank of Rio Grande
River, 833 miles; Beevllle to Rosenberg, 147 miles; San Antonio to Port
Lavaca, 136 miles; Magers to West Shore, Galveston Bay, 46 miles; Port
Lavaca, Stockdale to Cuero, 46 miles, completed July 1906; branches, 174
miles; trackage, 3 m.; total, 1,338 miles. Southern Paclllc Co. owns $27,056,tiOO of the $27,084,372 stock (par, $100). A consolidation In 1905 with
the New York Texas A Mexican, Gulf Western Texas A Pacific, San An­
tonio A Gulf, Galveston Houston A Northern and Gonzales Branch RR.
V. 79. p. 2612; V. 80, p. 1424; V. 81, p. 211, 668, 1242; V. 83. p. 1528.
Stock Is to be Increased and new mortgage made; not arranged In Jan. 1910.
BONDS. -First mtge. has a sinking fund of 1*fb, but It Is optional with
holders to surrender their bonds If drawn. Western Dlv. ’ ds ($6,354,000)
by agreement are treated as Income bonds; V. 58, p. 710; V. 84, p. 803; V. 88,
p. 1437. Equip, bonds, $1,558,000 6s, owned by So. Pac. V. 76, p. 1300;
V. 77. p. 2169. Southern lJae Co. proprietary companies and sinking funds
of latter also own $4 12 000 Matagorda Dlv. 1st .VI. 6s of the old New York
Tex. A Mex. Ry.. $2,224,000 Gulf West Tex. A Pac. 1st mtge. 5s, $800,000
Galv. Roust. A Nor. 1st mtge. 5s and $1,110,000 out of a total of $6,354,000
West. Dlv. M. A P. Ext. 2d mtge. 6s; $1,000,000 G. II. A S. A. East. Dlv.
2d 6s (extended), due June 1 1935 are also owned by .So. Pac. or sinking
funds of ropr'—tarv cos. The $4,756,000 1st 6s due Fob. 1 1910 are being
purchased by the So Pac. Co.
"EARNINGS.— 5 mo /1 9 0 9 -.........Gross, $4,506,729; net, $1,475,140
July 1 to Nov. 30 /1908______ Gross, 4,405,643; net, 1,430,109
EARNINGS.— For year ending June 30 1909: Gross, $10,123,196; net,
lncl. other Income, $2,913,787; charges, $2,441,742: bal., sur., $472,045.—
(V. 81, p. 668, 1242; V. 84. p. 803; V. 86, p. 1343: V. 88, p. 1437.)
GALVESTON HOUSTON A HENDERSON RR. OF 1882 — Owns from
Galveston, Tex., to Houston, Tex., 50 miles.

JAN , 1910. J

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Georgia Southern & Florida— First pref stock redeem
Second preferred $1,084,000 5 % ________________
First mortgage gold $4,000,000-.................MeBa.c
First consol mortgage $10,000,000 gold___ N c*A.
Equipment trusts Ser A and B $37,000 due semi-ann
Gettysburg & Harrisburg— South Mt first mortgage..
Gettysburg & Harrisburg first mortgage old issue. Consolidated mortgage $565,000 gold (see te x t)..
Gila Valley Globe & Northern— 1st M gold (text)-.Alp
Goshen & Deckertown— 1st & 2d M ($60,000 are 2ds)
Gouverneur & Oswegatchic— 1st M gold gu p & l.U n.c
Grand Rapids & Indiana Ry— Stock $6,000,000___
First M mostly land grant gold extended In 1899.C
First M extended gold guaranteed by Penn R R -.c
Second mortgage $5,000,000 gold______________ c
Grand Rapids & Nortliw— 1st M $5,000,000 gold.-G P
Grand Trunk Pac— First M £ guar Can Gov (text) .c&r
Prairie Section M (Ser A) £2,100,0001guar p and i
Mountain Sec M (Ser B) £2,050,000) by Grand
Lake Superior Dlv 1st M $1,550,000J Trunk
Debenture stock $25,000,000 red at 105 after 1936
Loan, $10,000,000, secured by M on Prairie section
Gr Trk Pac branch lines M guar, see text__________
Grand Trunk Ry -Consolidated stock £23,318,309__
4% guaranteed stock non-cumulatlve £12,500,000First preference 5% stock £3,420,000____________
Second preference stock £2,530,000______________
Third preference 4% stock £7,168,055___________ 1
Debenture stock £4,270,575_____________________ j
Consolidated debenture stock (collateral trust) cum )
Second equip mtge (subject to first mtg in trust).cj
Great Western perpetual debenture stock________ c
Northern Ry third preference A & B bonds____ c\
Debenture stock 4% perpetual £425,850______ J

307

1897
'82-87
1907

1907
285 1895
392 1902
’02 06
1877
1882
35 1891
125 1894
12 88-89
13 1892

__

335 1891
335 1891
387 1896
1908
1,755 1905
916 1905
839 1905
188 1905
1909
1009
1882
1884
73-74
73-74
1 ---3,512 11874
)1874
11869
8364 Var
490 H J1868
\1884

$ 100
1,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 Ac
1,000
100
1,000
1,000
1,000
1,000
£100 Ac
£100 Ac
£100 Ac
£100 Ac




Rate
%

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

$4,200,000 11 In ’09
Jan 15 1910 2 4
1 ,000,000
5
J A J Jan 1 1922
500,000 5 A 6 J A J Jan 1 1922
1,000,000
4
J A J Jan 1 1947
684,000 5 In 1909 M A N Nov 2 1909 2 4
1,084,000 5 In 1909 M A N Nov 2 1909 2 4
3,838,000
5 g J A J July 1 1945
2,000,000
4 g J A J July 1 1952
222,000
M A S Mch'10-Sep ’ 12
44
100,000
5
A A O Apr 11898
6
250.000
A A O Oct 1 1912
215,000
5
A A O Oct 1 1926
1,504,000
M A N Nov 11924
5g
246,500
6
Various 1928-1929
300,000
5 g J A D June 1 1942
5,791,700 3 In 1909 A A O Oct 25 1909 1 4
920,000
3 4 g J A J July 1 1941
4,455,000
4 4 g J A J July 1 1941
4,500,000
A A O Oct 1 1936
4g
See text
F A A Feb 1 1958
5g
£5,200,000 3 $ or £ J A J Jan 1 1962
£2,100,000
4
A A O Apr 1 1955
4
£1,354,000
A A O Apr 1 1955
4
£1,550.000
A A O Apr 1 1955
M A S
4
See text.
4
Seml-an 1919
£100 Ac £1,000,010
M A N 1939
4
£100 £22,475,985
£100 £9,840,010 4 In 1909 Seml-an Nov 5 1909 2 <v,
£100 £3,420,000 5 for '08 Seml-an Nov 5 ’09 2 4 %
£100 £2,530,000 2 4 fo r ’ 08 Seml-an May 6 1909 2 4
£100 £7,168,055 See text Yearly Apr 24’08 3%
£100 £4,270,375
5
J A J 14 Irredeemable
£100 £15,821,571
4
Q—J Irredeemable
£100
£373,000
6
.T A J July 1 1919
£100 £2,723,080
5
F A A Irredeemable
£14,600
6
A A O Irredeemable
4
£347,090
F A A Irredeemable

ORGANIZATION. -T he M. K . & T. and International & Great Northern
have had trackage rights since Dec. 1895 under a contract providing for pay
ment to mtge. trustee of $100,out) yearly to meet interest on G. H. A H
bonds and tin additional rental of $24,000 per annum for dividends or otheT
purposes—see V. 61, p. 1064; V. 63, p. 697. Dlvs., May 1904 to 1906, 4%
yearly; 1907-08, none. M. K. & T. owns 4,999 shares of stock—see V. 61,
p. 1013.
Stock, $1,000,000; par, $100. For year end. Dec. 31 1908, gross, Includ­
ing $124,000 for trackage, as above, $310,820; net, $61,677; other Incomo,
$149,453; Interest, $100,000; other charges, $51,067; Improvements, $51,­
053; bal„ sur., $8,110.— (V. 65, p. 1114.)
GALVESTON TERMINAL RY.— Owns extensive terminals at Galveston,
Tex., used by Trinity & Brazos Valley R y., which owns practically all the
stock. V .8 7 ,p . 950. Owns a large freight flepot and warehouse and about 14
blocks along Galveston water-front. In Jan. 1910 about 27 miles of main
line and sidings had been completed. Stock auth., $25,000. Of the 1st 6s
($5,000,000 auth. Issue), $1,106,000, guar. Jointly by the Ch. R. I. A P. and
Col. A So., were sold in Nov. ’08. V. 86, p. 1100, 1589; V. 87, p. 1478. Pres.,
R. H. Baker; V .-P ., John Sealy.— (V. 86. p. 1100, 1589; V. 87, p. 936.)
GARDEN CITY GULF & NORTHERN RR.— Owns from Garden City,
Kans., to Scott City, 40 miles, completed Dec. 1909. Projected to ex­
tend from Plains, Kansas, on the Chlcgao Rock Island & Pacific, north­
westerly to St. Francis on the Chic. Burl. A Quincy, 250 miles. Stock
auth., $5,000,000; present Issue, $600,000; par, $100. The llrst 6s ($5,000,­
000 authorized Issue) are limited to $15,000 per mile; Commonwealth Trust
Co., St. Louis, mtge. trustee. V. 89, p. 918. Pres., B. M. McCue: Sec.,
E. A. Tennis; Treas., J. W. Hope, Garden City, Kan.— (V. 89. p. 918.)
GENESEE & WYOMING RR.— See page 172.
GENEVA CORNING & SOUTHERN.— Owns Geneva, N. Y ., to Antrim,
Pa., 109 miles; branch to Ulysses, Pa., 40 miles; Stokesdale Jet., Pa., to
Newberry Jet., 75 m.; Penn Yann, N. Y ., to Dresden, 6 m.; other branches,
1 m.; total. 232 miles. A consolidation In Feb. 1909, V. 88, p. 1002. Stock,
com., $2,325,000; pref., 4% cum., $5,000,000; par, $100. Leased to N. Y.
Cent. & Hud. Riv. R R . from April 1 1909 for the term of Its corporate ex­
istence, or any extensions thereof, the rental covering 4% dividends on the
pref. and 3 4 % on the com. stock. V .'88, p. 822, 1061; V. 89, p. 286 The
N. Y. Cent. & Hud. Riv. RR. owns $1,820,800 of the $2,325,000 common
stock and In Jan. 1910 obtained permission to Issue $5,000,000 of its 4%
debenture bonds of 1934 to purchase the $5,000,000 Geneva Corning A
Southern 4% first pref. stock. V. 90, p. 54, 167.
Pine Creek 6s are guaranteed by Reading and N. Y. Central Jointly and
severally. See form of guaranty, V. 56, p. 650. The road Is mortgaged to
secure an authorized Issue of $10,000,000 50-ycar 4% bonds of the N. Y. C.
« H. R. RR. assumed by the Geneva Corning A Southern, to be used to
retire outstanding ftidditedness and bonds for Improvements. In July
1909 $3,744,000 bonus were authorized to be Issued for Improvements and
retirement of $600,000 Syracuse Geneva A Corning second mtge. bonds.
V. 88, p. 1127, 1313; V. 89, p. 162.— (V. 89, p. 286; V. 90, p. 167.)
„ GEORGIA COAST A PIEDMONT RR.— Extends from Darien to Collins,
Ga., 85 miles: completed In July 1906. Stock, $1,000,000. The con­
solidated 40-year 5s (limited to $3,500,000) are Issuable at $10,000 per
mile and $2,ooo per mile additional for equipment when the properly lias
earned 50% In excess of Interest charges; $200,000 may be used to acquire
terminals, sufficient of the Issue being also reserved to retire the 1st 5s.
V. 82, p. 804. In Oct. 1907 the company was authorized to Issue $2,570,000
consols for various purposes. Including $1,000,000 to retire the first 5s.
V. 85, p. 1143. There are also $175,000 10-year 6% Income debentures due
1018, lnt. payable Sept, yearly If earned. Year ending June 30 1009, gross,
$68,350; net, $6,665. In 1907-08, gross, $65,023; net, $1,512; charges,
$34,684; bal., def., $33,172. Pres., Donald Mackay.— (V. 88, p. 624.)
GEORGIA FLORIDA & ALABAMA RY.— Owns Richland, Ga., to
Tallahassee, Fla., 133 miles, Including 26 miles opened September 1909;
Tallahassee to Carrabellc, on the Gulf of Mexico, 51 miles; branch, Ha­
vana, Fla., to Quincy, 12 miles; total, 196 miles. Also operates
steamer line from Carrabelle to Appalachlcola, Fla. Stock, $350,000;
par, $100. In June 1909 President Williams, It was reported, purchased
the minority stock and practically all of the outstanding bonds. V. 88,
p. 1437. Bonds, see table above. Loans and bills payable June 30
1908, $248,988. The stockholders on Nov. 13 1906 authorized $1,225,000
5% non-cum. pref. stock on 168 4 miles, then operated, with $8,000 per
mile for additional mileage; no new stock had been Issued to Oct. 1908.
For year ending June .10 1908, gross. $471,763; net, $39,571; lilt and
taxes, $97,937: balance <lciiclt. $58,366. Pres.. J. P. Williams; Sec. and
Treas.. J. L. Nlsbet. Office, .Savannah, Ga.— (V. 88, p. 1437.)
GEORGIA & FLORIDA RY.— Augusta, Ga., to Madison, Fla., 40 miles
from the Gulf of Mexico, with branches, including one to Savannah; total,
347 miles, completed Jan. 1910, incl. 50 m. trackage from Mlllen to Augusta,
Ga., pending completion of line. A consolidation. In August 1907 of
the Douglas Augusta A Gulf, Mlllen A Southwestern and other roads,
acquired uy a syndicate organized by Mlddendoi t, Williams A Co. and Iniernat. Tr. Co. of Maryland and John L. Williams A Sons of Richmond, Va.
V. 82, p. 1211; V. 85, p. 345; V. 87, p. 480, 936, 1533; V. 88, p. 681. Had op­
tion on 45% of stock of Savannah A Statesboro Ry.. 53 m., Incl. 20 m. track­
age. Capitalization to be: Com. stk., $15,000, and non-cum. pref., $10,000
per mile. After 4% on pref., com. Is to be entitled to 4% , then pref. to
2% additional, then com. to all other earnings. Bonds to lie limited to
$12,000,000 at $20,000 per mile, of which $5,000,000 underwritten In July
1907. V. 85, p. 2 2 1 , 530. Report for year ending Juno 30 1908 In V. 88,
. 681, showed, gross, $303,115; net Income, $46,580; charges, $35,236;
al., sur., $11,344. Pres., John Skelton Williams; Sec., C. T. Williams;
Treas., Rutherfoord Flest; Gen. Mgr., J. M. Turner.— (V. 89, p. 1347.)
GEORGIA A\IDLAND RY.— See page 172.
GEORGIA RR. A BANKING CO.— Owns from Augusta, Ga., to Atlanta,
Ga., 171 m.: branches to Washington and Athens, 58 m.; Macon A Augusta
R R . (proprietary road), Camak, Ga., to Macon, Ga., 74 m.; trackage, 4 m.;
total, 307 m. Owns 50% stock of Western Ry. of Ala. (the Central of Ga.
Ry. owning the other half); also a 47% Interest in Atl. A West Point.

S

Amount
Outstanding

Par
Value

I
O

Georgia Railroad & Banking Co— StockBonds refunding not mortgage currenr
Bonds not mortgage $200,000 5s____

Miles Date
Road Bonds

57

Augusta Ga
Am Ex Nat Bk, or Aug
do
do
Am Exch Nat Bk, N Y
M T & D Co Balt; A N Y
do
do
do
do
do
do
Blair & Co New York
Reading Terminal, Phlla
do
do
do
do
So Pac Co 120 Bway N Y
N Bk Or Co Goshen N Y
Grand Cent Station N Y
Office Grand Rap, Mich
Winslow,Lanier ACo N Y
do
do
Philadelphia Pa
Philadelphia & Chicago
Bank of Mont, Lon & NY
ICo’s Office London or
) Bank of Montreal
J
New York
9 N Broad St London E O
N Y, Montreal & London
Check from Co’s Office
do
do
do
do
do
do
)Glyn, Mills, Currie &
Co, London

I

Lease.— In 1881 roads leased for 99 years to W. M. Wadley el al tor the
Cent, of Ga. and the Lou. A Nash., at $600,000 per year, but In April 189»
the Loulsv. & Nash, was held to have acquired all rights under the lease;
Atlantic Coast Co. July 1899 acquired half Interest. V. 68, p. 722; V. 69,
p. 385, 591; V. 70, p. 125. Tax decisions. V. 85. p. 160, 1339: V. 86, p. 981.
Car trusts, $138,994. In Aug. 1908 sold $1,000,000 40-vear 4% deben­
ture bonds to refund the 6s due Jan. 1 1910. V. 87, p. 226, 285. Owns
a majority ($198,200) of stock of "Georgia Railroad Bank.”
DIVID’ DS.— \1881. 1882. 1883 to 1887. 1888. 1889 to Jan. 1910.
Since 1880------%J 9 4
104
10 yearly
104
11 yearly
EARNINGS (307 miles)— (1909--------- Gross, $1,298,539; net, $364,250
July 1 to Nov. 30, 5 months.J1908______ Gross, 1,232,760; net, 220,694
Railroad earnings for year ending June 30 1909, gross, $2,751,094; net,
$520,041; other Income, $194,073; rental to Ga. RR. & B. Co., $600,000;
Int., rentals, &c., $132,696; bal., def., $18,582.— (V. 88, p. 1372, 1437.)
GEORGIA SOLI HERN & FLORIDA RY — (See Map of Southern h .,—
Owns from Macon. Ga , to Palatka, Fla., 285 miles: on Nov. 1 1902 pur­
chased Atl. V. & W. R y., Valdosta. Ga , to Jacksonville. Fla., 107 miles;
trackage into Jacksonville, 3 m.; total, 395 miles. V. 60, p. 928; V. 79, p.551.
Also owns one-eighth of stock of Jacksonville Terminal Co. V. 77. p. 626.
In 1903 the stock of the Hawklnsvlllc A Florida Southern R y.. Worth
to Hawklnsviile, Ga., 44 m.. was purchased, $310,000 1st mtge 5% bonds
being guaranteed, nrln. and lnt. V. 79, p. 2585.
DIVIDENDS.— On 1st p re f.,’96, 4% ; ’97 to Nov. 1909, 5% yearly. On
2d pref.. In ’97, 2% ; ’98. 3% : ’99. 3%; 1900 to May 1906, 4% yearlv: Nov.
1906, 2 4 % ; 1907 to 1909, 5% yearly. Commo l stock Is $2,000,000.
BONDS.— First mtge. of 1895 (Abstract. V. 61. p. 429) provides that the
684,000 lsf pref. slock shall be a lien second only to the bonds and coupons.
The 1st consol. 4s of 1902 are for the authorized amount of $10,000,000,
of which $4,684,000 are Issuable to retire the $4,000,000 5s and $684,000 1st
pref. stock, and $3,316,000 are reserved for future needs
V. 75, p 980.
LATEST EARNINGS.— / 1909............G ross , $957,714; net, $257,725
5 mos.. July 1 to Nov. 30.\1908________ Gross, 774,546; net, 224,826
REPORT.— Fiscal year ends June 30. Report for 1908-09, In V. 89,
p. 1340, showed: Gross, $1,996,937; oper. Inc., $474,365; other inc., $48,­
553; lnt. on bonds, Ac., $322,630; dlv. on stock, $88,400. In 1907-08,
gross, $1,963,546. Pres., W. W. Finley, N. Y .— (V. 89, p. 1340.)
GEORGIA SOUTHWESTERN & GULF RR.— V. 90, p. 109.
GETTYSBURG & HARRISBURG R Y.—Carlisle to Gettysburg, Pa. 31
m.; branch to Round Top Pa , 3 m. The Reading Co. owns $545,300 of
tlie $600,000 capital stock; $535,000 deposited under Its gen. mtge. of 1896.
The consol. 5s of 1891 were guar, by Phlla. A Reading RR (foreclosed).
GII.A VALLEY GLOBE & NORTHERN RY.— Bowie, Arlz., to Globe.
125 miles; branch Globe to Miami, 10 m., opened Dec. 1909. Stock, $2,
000,000, all owned by Southern Pacific Co. V. 71, p. 1314. Par, $100.
Tlie bonds, limited to $15,000 per mile ($1,504,000 outstanding), are guar­
anteed, p. A 1., by Southern Pacific Co. V. 69. p. 27: V. 68, p. 232.
DIVIDENDS.— 1901,4% ; 1902, 4% ; 1904-05, 20%; 1906-07, ’07-’08 and
’08-’09, 6% each.
EARNINGS.— 5 mos.,(1909.................G ross, $473,056; net, $187,030
July 1 to Nov. 30. J1908__________ Gross, 387,502; net, 203,433
REPORT.— In 1908-09, gross, $1,013,599; net. $343,371; Int., sink,
fund, Ac., $238,665; dlvs. (6% ), $120,000; bal., def., $15,294.
GOUVERNEUR & OSWEGATCHIE R R .—Owns from Gouverneur to
Edwards, 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.
GRAND RAPIDS & INDIANA RY.— (See Maps of Pennsylvania RR.)—
Owns from Fort Wayne, Ind., to Mackinaw City, 367 m., branches, 69 m.;
total owned, 436 miles; operates the following roads, but has not assumed
the old company’s leases thereof: Cln. Richmond A Ft. Wayne R R ., 86 m.;
Traverse City RR. (nearly all the stock and all the Income bonds owned).
26 m.; Muskegon Grand Rapids A Indiana UR.. 37 m.. Traverse City
Leelanau A Manistlque RR., Traverse City to Northport, Mich., 30 miles
(Incl. 6 m. trackage), see V. 74. p. 777; V. 76, p. 811: V. 82, p. 988, 1098.
HISTORY.— Successor Aug. 1 1896 of Grand Rapids A Indiana Railroad.
foreclosed under second mtge., per plan In V. 63. p 153.
STOCK.— Stock $6,000,000, of which Pennsylvania Interests are sup­
posed to own all or nearly ail. Penn. Co. on Jan 1 1909 owned $2,902,600.
DIVIDENDS.— 1900 1%; 1901 2% ; 1902 to Oct. 1900. 3% 'yearly).
BONDS.—The 1st mtge. bonds extended at 4 ,4% are endorsed with the
guaranty of the Penn. RR. Co. to purchase the coupons as they mature, and
the bond Itself at maturity. See guar., V. 56, p. 649; V. 69, p. 1193. Of
the seconds. $2,987,000 were owned Jan. 1 1909 by Pennsylvania RR.
REPORT.— Report for 1908 In V. 88, p. 1057. In 1908 carried 2,486,892
tons of freight, of which 36% was lumber, Ac., and 18% coal.
Year ending Dec. 31—
1908.
1907.
1906.
1905.
Miles operated_____
436
426
424
424
Gross Income______ $3,498,148
$4,149,694$3,900,605 $3,605,649
Net over expenses A taxes..
727,751
801,299
782,094
698,839
Interest and other charges, $488,270;Improvements, $52,390; dividends,
(3% ). $173,730; bal.. sur., $13,361.— (V. 86, .975. V. 88. p. 1057.)
GRAND RAPIDS & NORTHWESTERN RR.— See page 172.
GRAND TRUNK PACIFIC R Y.— (See M ap.)—This new trans-conti­
nental railway across Canada has received the approval of the Canadian
Government and will be carried through with the Joint financial support
of the Government and the Grand Trunk Ry. Co. of Canada. It will
consist of a main line of an estimated length of about 3.550 miles, from
Moncton, New Brunswick, to Prince Rupert, B. C., on the Pacific Ocean,
about 25 miles south of Port Simpson, B. C., with branch 188 miles, viz.;
1. Leased Line, to be Built by Canadian Government—
Miles
Eastern Dlv., Moncton, N. B., via Quebec to Winnipeg, about___ 1,800
(To be leased for 50 years to Grand Trunk Pac. Ry. Co.— for first
7 years at cost of operating only and for remaining 43 years at
3% on cost of construction) (but see V. 80, p. 997).

DAWSON

p a c if i c

RAILWAY STOCKS AND BONDS

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6<»

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
IFor abbreviations, &c., see notes on first page]
Grand Trunk Railway—(Concluded)
Pontiac Oxford A Nor— 1st M 5400,000------Mc.c*
Midland ol Canada cons 1st M £3.164,700______C
New England Kiev 1st M g gu due $10,000 yearly..
Montreal Warehousing 1st M $1,000,000 gold guar.
Qrand Trunk Western—
„
first M $l5,ouo,000 lnt guar gold $ (cur) & £ ------F
Second M Income gold $1,500,000 redeem (text).Ta
Great Northern -Stock $210,000,000---------------------St P M & M, Dakota Extension 1st M gold-.Ce.c*
Consol mtge for Know 1st M on lands) gold-.C ef
$50,000,000, . I
|
Montana Ext 1st M ($25,000 p m) gold___ Ce.c*Ar
Pacific Extension M £6,000,000 gold------Ce c*Ar
C B A Q col tr M g (sub to call at 105)------------ ScAr
do
do
do
registered----------Minn Un Ry first mtge gold assumed-------------Cc.c*
do
do
do
do
------- - -

Miles Date
Road Bonds
100 1896
1882
1901
. . . 1906
326.5
326.5
1,221
2,655
2,655
2,655
420
818
3
3
285
260
433
2
132

Mlnneap West M $1 ,000,000 g assum(V 60 p 835)
Spokane Falls & North tlrst mtge gold assum.iNla.c*
Gt North Ry of Can -See Canadian North Quebec Ry
Green Bay « Western RR— Stock (see text)------------ Debentures Class A Incomes text non-cum--------- c
Class I) Incomes after 5% on stock non-cum ..c*
Greene RR (New York)—Stock.....................— - ­
21
Greenwich & Johnsonvillc— 1st M *500.000 g - S . 1
Guay & U Prior lien M gold, red 105 s f . ---------1st M originally S12,282,000 gold guar (text).-U sm
Gulf Beaumont & K C -S e e Atchison Topeka A Santa Fe
77
Gulf B & Gt Nor gold p & 1 guar end (text) — AB.r
...
Gulf Line— First mortgage $325,000 gold---------

Amount
Ouisianding

Par
Value

$1,000
$400,000
£100 £1.016,500
1,000
320.000
$ or £
$1,000,000

£100
500
100
1,000
1880
1,000
1883
1883
1,000
1,000
1887
1,000
1890 £100 Ac
1901 $l,000Ac
1901 1,000 Ac
1882
1.000
1882
1,000
1898 1,000 Ac
1887 1,000 Ac
1888
1.000
1891
1,000
1889
1,000

15,000,000
1.500.000
209.970 250
3,025,000
13.344.000
21,220.000
5,669,000
al0,185,000
b £4,000,000
\ 107613500
j
2,150,000
650,000
d9,700,000
10.000,000
3,625,000
500,000
229,000

1900
1900

1896
1896
1904
1908
1899
1900
1907

100
1,000
1,000
100
1 ,000
1,000
1,000
1.000

Ion bo nds

Rate
%

[VOL. L X X X X .

When
Payable

6g J
5
■1
3% g J
4
A

A
A
A
A

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

J July
J Jan
.1 July
O Apr

Mercantile Trust Co, N Y
1 1916
1 1912
1910-1941
Montreal or London
1 1936
Bank Montreal.NY& Lon
4% paid 1006-1900
Office 32 Nassau St N Y
32 Nassau St New York
do
do
do
do
do
do
do
do
N Y & Lond, Baring Bros
J. P. Morgan A Co., N .Y .
do
do
32 Nassau St New York
do
do
32 Nassau NY;Lee,H,Bos
32 Nassau St New York
do
do
N Y & Lon, Baring Bros
Chase National Bank NY

4 g J A J July 1 1950
Up to4%
July 1 1950
July
7 In 1909 Q— F Fib 1 1910 1
M A N Nov 1 1910
6g
6 g .r A ,1 July 1 1933
4)4 g .r A .1 July 1 1933
4 g j A J July 1 1933
4 g .i A D June 1 1937
4g
i & .1 July 1 1940
A J July 1 1921
1 4g j
1 4g
Q—J July 1 1921
A ,TJuly 1 1922
6g j
5 g J & J July 1 1922
A A O 1928-1948
4g
5 A 6 g J A J July 1 1937
5 g J A T) June 1 1938
5 g .J A J July 1 1911
6
J A J July 1 1939

Feb 8 1909 5)',
2,500,000 5 Feb ’ 09
Feb
600.000 5 Feb *09
Feb
Feb 8 1909 5)5
7,000,000 % Feb’09
Feb
Feb 8 1909
200,000
6
J A D Dec 20 1909 3 55
500,000
4 g .1 A .1 Jan 1 1924
2,486,000
6 g J A J Jan 2 1930
5
10.808.000
A J Jan 2 1932
■1

Office 40 Wall Street N Y
do
do
do
do
D L & W 00 West St
Standard Trust Co N Y
New York and London
See text

J A
M A

5 Nassau Street New Yk

I 132.000
See text

5g
5g

.1 July 1 1930
Sept 1937

b £2.000 .000 additional

held by Great Northern

d Subject to call at 105 after April 1028.2
3
2. Western Division. Built and Owned by Company—
a. Prairie Section. Winnipeg to Rocky Mountains, a b o u t ................. 916
b. Mountain Division. Rocky Mountains to Pacific Ocean, a b ou t.. 830
3. Lake Superior Brunch, Built and Owned by Company—
Thunder Bav on Lake Sunerlor to Junction with Eastern Division,
east of Winnipeg (completed In November 1008.)________________ lss
Of the Prairie Section. Winnipeg to Edmonton. 793 miles was completed
July 1009; from Lake Superior Jet. to Winnipeg, 245 miles, will be com­
pleted In 1910, and Edmonton west to Wolf Creek, 123 miles, was cornpitted Sept. 1909, making, with Lake Superior branch. 1,349 miles of con­
tinuous line In operation. On jmountaln section 100 miles east from Prince
Rupert was completed early In 1909 and contracts let for 314 m. additional.
Contracts have been let on all other portions of the road to be built by the
Government. V. 84, p. 1052; V. 86, p. 794, 1100; V. 87, p. 677, 873;
V. 89, p. 224, 1217. Leases Winnipeg terminals. V. 89, p.666.
ORGAN I VTION. — Incorporated by Canadian Legislature In 1903
See
full statement In V 80. p. 996. V. 81. p. 1315. As to Grand Tr ink PaC.fie
Branch Lines Co., see V. 82. p. 333: V. 86, p. 1100; V. 88, p. 295.
Proposed new lines, V. 89, p'. 1482, 1562.
STt'C
■ iti"i l/ed, $ 1 5 ,000,000 (par of shares *100 each), of which
the $25,000,000 common Is owned by the Grand Trunk Ry.
BONDS.— The Canadian Government agreed to guarantee 3% 1st mtge.
bonds for an amount up to 75% of the cost of construction of the Western
division, such amount (a) In the case of the Prairie Section not to exceed
$13,000 per mile, or £3,210,000 In all, and (ft) three-quarters of total cost
per mile from the mountains to Pacific Coast, called Mountain Section.
Total Issue limited to £14,000,000; Royal Trust Co., Canada, trustee. T oO ct
1909 £5.200,000 had been sold. (V. 80, p. 996, 1234, 1363; V. 81, p. 507,

STOCK, &c.— The authorized capital on June 30 1909 was £48,936,364
Uock t £48.434,051 Issued and £3,502,313 unissued; advances Horn the
Canadian Govt. In aid of construction amount to £3,111,500
Perpetual
•onsol. 4% deb. stock authorized by Act of 1882, and later Acts, has been
issued from time to time to acquire securities of companies consolidated and
controlled, amounting Ju c 30 1909 to £8,848,565, and bearing an annual
Interest of £457,018. V. 71, p. 84. Shareholders Apr. 21 1909 authorized
an increase of £2,500,000 In thelimit of 4% perpetual consolidated deben­
ture stock and of the 4% guaranteed stock from £10,000,000 to £12,500,000.
V. 88, p. 822, 1194; V. 82, p. 692; V. 86, p. 602, 1100.
ii:> Lad on Co bonds V *2.n 452. Montreal Warehousing guaran­
teed bonds, V. 83. p. 37. Gr. Trk. Pac. Town & Dcvcl. Co.. V. 86, p. 1042.
DIVIDENDS
Foi ’ 98. ’ 99. '00. ’ 01 ’ 02. ’03 ’U4. M5 *06 '07. ’08.
Guaranteed 4% stock %
2 4 4 4 4 4 4 4
44 4
5 5 5 5 5 5 5
5 5 5
First preferred______ % 3
3 J {3
4
5
5
5
5
5 52)4
Second preferred____ % 0
0 0 0 1 2 0 2
3
3 0
Third preferred______ % 0
$14,812,762; net, $4,213,416
EARNINGS.— 5 m os.,/1909..........Gross,
July 1 to Nov. 30. 11908_____ Gross,
13,689,574; net, 4,157,451
For half-year ending June 30 1909, gross, £2,866,468; net, £787,272,
against £785,648 In 1908; net charges. £440,487; advances, £66,852; dlv.
(2%) on guar, stock, £196,800; on first pref. (2 )4% ), £85,420; adding £12,­
226 on hand Dec. 31 ’08, leaves bal. to carry forward June 30 ’09, £9,938.
REPORT.— Statement for 1908 was In V. 88, p. 1057, 1193. Semi­
annual meeting Oct. 1909, V. 89, p. 1216.
Years ending Dec. 31—
1908.
1907.
1906.
Gross earnings........................................ £6,302,033 £7,144,506 £6,606,528
Transportation expenses____________
4,559,701 5,197,478
4,746,318

61Serles "A’” P(PralrleSeo.) 4% bonds, total Issue limited to £2,100,000, and
Series “ B” (Mountain Sec.) 4% bonds, not to exceed £2,050,000. are secured
by a 2d nitre
National Trust Co , Toronto tiustee) on the railway
equipment and tolls of the co., Including Its leasehold Interest In the Eastern
Division, but not luanch lines exceeding 6 miles In length, ships, grants of
lands (other than for railway purposes) and the rolling stock of the East Dlv
or of the above mentioned branch lines of over 6 miles
These bonds are
unconditionally guaranteed as to prln. and lnt. by the Grand Trunk Ry. Co.
See form In V. 80, p. 996; also see V. 80, p. 996; V. 86, p. 794.
Although tie mrt age to secure the 3 ’;, bon d s gum a ntei d t>\ fhe Govern
ment ranks before the mtges. securing A and B bonds guaranteed by tne
Grand Trunk Ry. of Canada, yet an agreement schedule to an Act of 1904
provides In effect that In the event of default by the company for 5 years in
payment of the lnt. on the 3% bonds, the remedy of the Government shall
be to put In a manager with the concurrence of the company to operate the
Western Division and to collect and distribute net earnings of each particu­
lar division pari passu between the holders of the bonds guar, by the Gov t
and the holders of the bonds guar, by the Grand Trunk Ry. Co. In the pro­
portion of 75% of such earnings to the holders of the Gov’t bonds and 25%
to the holders of the bonds of this division guar, by the Grand Tr’k Ry. Co.
In May 1909 the Dominion Government agreed to loan not exceeding
$10,000,000, repayable In 10 years or at any time on 6 months’ notice,
Interest thereon to be 4 % , payable semi-annually, secured by the company’s
bonds to the same amount, maturing 1919. guaranteed prln. and lnt. by
the Grand Trunk, under a mtge. on the Prairie Section, subject to existing
prior liens. V. 88, p. 822, 1194, 1061, 1253.
Lake Superloi branch bonds, total Issue limited to £1,550,000, are se
cured by a 1st mtge on all the 188-mlle Lake Superior Dlv. and are guarari
teed prln and lnt by Grand Trunk Ry Co
(V 80 n 996.)
In 1909 Acts were passed by the provinces of Saskatchewan and Alberta,
authorizing the respective provinces to guarantee, prln. and lnt., at the rate
of $13,000 per mile, first mtge. bonds, to be Issued by the Grank Trunk
Pacific Branch Lines Co. for the construction of new lines, viz., 195 miles
In Saskatchewan and 491 In Alberta, to be worked under agreement by the
Grand Trunk Pacific Ry. Power Is given to Issue additional bonds up to
$2,000 per mile, making $15,000 per mile. In May 1909 £500,000 (part of
£521,600) guaranteed by Saskatchewan and £500,000 (part of £1,313,300)
guaranteed by Alberta were sold. V. 88, p. 1437, 1372, 822.
In 1909 obtained authority to guarantee the bonds, debentures or other
securities of Grand Trunk Pacific Branch Lines Co., to be Issued to build
270 miles of road at $30,000 per mile. V. 88, p. 295, 563.
DEBENTURE STOCK.— In 1906, $25,000,000 debenture stock was au­
thorized, of which *15,000,000 (£3,000,000) lnt.gun- . by the Gr. Tr. Ry.
under certain conditions (see V. 84, p. 570) to be Issued as pe petuai deb.
stock; of this £1,000,000 was sold in Feb. ’07, £1,000,000jjan. ’08, £1,000,­
000 Feb. ’09 and £1,000,000 was offered in Jan. 1910at £92)4 per £100,pay­
able 10% on application, 15% on allotment, 20% April 15, 25% June 1 and
22 J4% July 15 1910, or optionally In full at any time
V. 88, p. 624.
OFFICERS.— Pres., Charles M. Mays, Montreal. Can.; Sec.. Henry
Philips: Treas.. Frank Scott.— (V. 89. p. 224,286.666.)
GRAND IRUNK RY. OF CANADA.— (See M ap.)— Quebec, Can., via
Montreal to Chic., Ill ; also to Portland. Buffalo, Detroit, Toledo. Ac.
SYSTEM PROPER.
| REPORTED SEPARATELY.
Miles. I Majority stock owned.
M iles.
Lines owned
________ 2,952 |Central Vermont*------------------- 631
Leased partly owned.
|Grand Trunk Western*Atlantic A St. Lawrence, PortI Entire stock owned.
land,Me., to Island Pond, Vt. 165 |Detroit Grand Haven A M il*.. 191
Buffalo & Lake Huron________ 164|Tol. Sag. A Muskegon-----------96
Clncin. Sag. & Mackinaw_____
531 Jointly owned.
Other lines
-------------- 202 IDetroit A Toledo Shore Line—
79

Net earnings____________________ £1,742,332
Total net Income_________________ £1,999, u-4
Rentals____________________________
155,206
lnt. on bonds and deb. stock________ 1,0 7,127
Advances to controlled roa d s_______
155,704
Dividends on guaranteed stock ..(4 ).
382,463
Do
first preferred stock___ (5)170,841
Do
second preferred stock .(2 )4)63,210
Do
third preferred stock___
________

Total In earnings _________ 3,536| Total road_________________ 4.7C8
Car ferry, Grand Haven to Milwaukee. ‘ See separate statement this Co.
As to G rand Tr ’ ’■ Pacific Ry.. see that company above. V. 79, p. 2587.
On Sept. 30 1905 began operating Canada Atlantic Ry. and guar., prln.
and lnt.. Its 4% bonds. V. 79, p. 967, 1331, 1641, 2455, 2620: V. 85, p.GOO.
In 1909 purchased stock of Pontiac Oxford & Northern, Pontiac, Mich.,
toCasevlllc, 100 m., and assumed $400,000 6%bonds. V, 89, p. 1542’ 13478




£1,947,028 £1,860,210
£2,220,187 £2,100,993
155,206
155,206
1,070,923
1,069,136
41,537
153,350
(4)
312,411
(4)
336,770
(5) 170,841 (5) 170,842
(5)126,420 (5)126,420
(3)214,939 (3)214,939

.

B alance............................................. s r. £5,473 def. £6,477 sur. £8,714
OFFICERS.— Pres., Chas. M. Hays; Chmn. of Board, Alfred W . Smlthers.— (V. 89, p. 470, 993, 1216, 1347, 1542, 1667; V. 90, p. 167.)
(i k* \ Ni) IRUNK v iisr i N RY. •tSee Man (Irano Vm-'. n < Owns
rom Port Huron, Mich., to Cldc. & West. In d .R R .,a t Chicago, 330 m., and
trackage Chic. A West. Ind., 5 m.; total, 335 m. Stock, $6,000,000. all
owned by Gr. Trunk. V. 69, p. 954; V. 71, p. 28.
BONDS.— The Grand Trunk unconditionally guarantees the Interest on
the 1st 4s, of which the last $563,000 were issued to retire the Northw. Gr.
Trunk 6s on Jan. 1 1910. The new Incomes are subject to call at 85 and any
lnt. then due, within the first 10 years. Int. on Incomes, 1% paid on July
coupons In 1902 to 1905 Incl.; 4% in 1906 to 1908. V..83, p. 687. Jointly
with Toledo St. Louis A Western guarantees Detroit A ioledo Shore Line
bonds. V. 76. p. 653; V. 89. p. 1411.
EARNINGS.— 5 m os.,(1909..............Gross, $2,586,068; net, $687,151
July 1 to Nov. 30. \1908_______ Gross, 2,387,206; net, 602,960
Year ending June 30 1909, gross, $5,561,717; net, $1,786,057; other In­
come, $305,422; charges, $2,040,667; 4% on incomes, $60,000; deficit, $9,188.— (V. 83, p. 687; V. 89, p. 1141, 1410.)
URHAT NORTHERN R Y .-iS e e Maps.) -Operates a line from St. Paul
Minn.. via Spokane. Wash., to Lowell, \Vash., on the Pacific coast, with
coast line to Seattle, and numerous branches In Minnesota, Nebraska. North
and South Dakota. Montana. Washington. Manitoba and British Columbia,
aggregating. June 30 19i>9, 6,978 miles.
Lines owned in fee.
Miles. \ Lines owned in fee
Miles.
St. Paul., Minn., to Lowell.
|Duluth. Minn., to Laramie. No.
W a s h ...........................
1,790 1 Dak—
325
156 |St. Paul,Minn., to Grand Forks
Seattle to Vancouver____
wilimar, Minn., to Yankton,
I No. Dak----------------------------- 524
So D a k .......... ........................ 205 IVarious branches.......................3 318
Garretson, So. Dak., to Sioux
\Trackage ------------------------------- 101
City la., and O’ Neill. N eb.. 2081
„
„
Spokane. Wash., to Neison.B.C 200 | Total June 30 1909---------- 6 978
Pacific let Monl to Uutte
.351 12d fee tracks A sidings.
1,893
The Spokane Portland A Seattle R y., 420 miles, was completed May 1909.
V. 85, p. 1273: V. 86, p.1529.
, .„ ,
In Dec. 1908 Chic. Burl. A Quincy (Jointly held) acquired control of Colo.
& Southern, affording direct connection for the IIIll lines with the Gulffof
Mexico. V. 87, p. 1664. In 1909 arranged to use Jointly the Northern
Pacific line. South Tacoma to Vancouver, Wash., 135 miles. V. 88. p.1372.
In Dec. 1909 control was acquired of the Spokane A Inland Empire (Elec­
tric) R R ., operating 247 mlies. Sec “ Eiec. Ry. SectI n,” V. 89, p. lo96.
ORGANIZATION. The stockholders voted Oct. Hi 1907 to acquire the
St. Paul Minn. A Man., Eastern Ry. of Minnesota, and other roads hereto­
336
fore controlled
V 85. p 600. 1209; V. 86, p. 168. 794.
LANDS.— The net amount due from land contracts June 30 1909 was
$277,302; land unsold, 815,461 acres, to be reduced about 660,000 acres by
a final adjustment with U. S.
STOCK.— In 1898 surrendered the right to Issue common stock, all stock
being “ of a single class with uniform rights and privileges.’’
stockholders n .inn III.>7 subscribed for $«u.000,omi new stock at par,
payable In Installments to April 1908. V. 83, p. 1469; V. 84, p. 749.
DIVID’ DS, l’92 io ’ 06 duel.) ’ll/ ’1)8. ’III). ’DO. ’ 01. 1902 to Fob 1910.
Gt.North.J 5% yearly
5)$ 6 hi 7 7
7
7% yearly, Q-F.
Also In 1898 50% In Seattle & Mont, stock, which was then exchanged
for 40% In Gt. Nor. prof. V. 66. p. 104 1. 1188; V. 74, p 829. In May,
1901 J4% and In Nov. 1907 1 )4% was paid from earnings of Lake Superior

JAN,. 1910.1

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviasions, &c., see notes on first page]

Miles Date
Road, Bonds

Qulf & Ship Island—S tock----------------------------First refund and term M gold sink fund-.N .c*xftr*
307
307
Mortgage gold part due yearly red at tOl___ Moc*
Gulf Terminal, Alobile— 1st M $700,000 ggu(text)c* &r
50
Gulf Texas & West— 1st M $10,000,000 g red 105.Mp
Hancock & Calumet—See Mineral Range RR
nc y
Hannibal & St Joseph—See Chicago Burlington t
20
Harriman ft Northeastern— First mortgage gold.
53
Harrisburg Portsmouth Alt Joy ft Lane—-Stock 7
53
First M (extended In 1883) gu p & 1 Pa R R __
124
Hartford ft Connecticut Western— Stock---------124
First mortgage extended in gold In 1903_____
44
Henderson Bridge Co—See Louisville ft Nashvll
4Ji
Hibernia Aline RR— Stock------------------------------Hocking Valley Ry— Stock common $11,000,000------

do
do
Ser C due $37,000 s-a .
do
do
do
do
Ser E due $25,000 s -a ________
do
do
Ser I of 1908 due *25,000 s-a.S.xc'
do
do
Bonds of coal companies guaranteed. See Sunday
HoosacTunnel & Wilmingt— lstM $250,000 authg.OE
Hous Belt & Ter— 1st M $5,000,000 g red 105 text Ccd
Hous E & W Texas— 1st M gu p & l by So P ac.-U n.C
First mtge $3,000,000 gold not guaranteed-----------Hous & Tex C RR— 1st M 1gr gred 110 Int gu.Ce.c* &i
Cons M land grant gold red at 110 Int guar.-F.c*&i

1895
1853
1883
1902

1867
1875
1880
1899
1902
1907
1907
1907
1907
1907
1908
Creek Co und
25 1892
1907
191 1893
191 1893
453 1890
453 1890
453 1890
58 1900
103 1891
41 1895
12 1881
76
118
85
346

Car trusts gold $80,000 s-a (V 75 p 741).

1902
1908
1907
1909

Par
Value

Amount
Outstanding

Rate
%

$100 $6,500,000 See text
1,000 &c
4.984,000
5g
750, 00
g
1,000
600.000
4g
1,000
1,067,000
&g
100 &c
50
500 &c
100
1,000
1,000

300,000
6g
1,182,550 7H In T9
4
700,000
2
2,965,500
4 V*
700,000
325,000
5g

til

When
Payable

Jan 10 '10 2%
Feb 1 1952
Apr 1010 1911
Jan 1 1957
Nov 11939

Bulfalo N Y
Fisk & Robinson N Y
Metropolitan J’r Co N Y
New York
Metropolitan Tr Co, N Y

J Jan 1 1916
J July 101909 4%
J July 1 1913
31 Aug 31 1909 1%
.T July 1 1923
O 1952

Central Trust Co N Y
Company’s Office Phlla
do
do
Hartford
do
Union S B ft Tr Co Cln

(J—J
J ft J
A ft ()
J ft J
M & N
J ft
J ft
J ft
F &A
J ft
A &

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

100
200,000
6
A ft O Oct 10 1909 3% See Central of New Jersey
100 11,000,000 4 In 19 9 J & J Jan 17 1910 2% J P Morgan & Co N Y
do
do
100 15,000,000 4 In 1909 J & J Ja 1 17 1910 2%
do
do
500 &c
1,401,000
A ft O Oct 1 1948
4g
do
do
1,000
2,441,000
F ft A Aug 1 1955
4g
do
do
1,000
1,556.000
7
M ft N May 1 1910
do
do
1,000 &c 14,479,000
4
g J ft J July 1 1999
do
do
1,000
400,000
4X g M ft N May’ 10-May ’ 12
1,000
322,000
4
F ft A Aug ’ lO-Feb ’ 17 U. S M. ft Tr. Co., N. Y .
1.000
672.000
4
F ft A 15 To Feb 15 1917 Lincoln Trust Co., N. Y.
1,000
555.000
4
A & O To April 1 1917 Merch.L.ft Tr.Co., Chic.
1,000
100,000
4
J & ,T July’ lO-July M2 First Tr.& S. Bk., Chic.
1,000
375,000
4
F & A Aug'10-Aug ’ 17 Empire Trust Co.. N. Y.
1,000
400,000
F ft A 15 To Feb 15 1918 Standard f'rust Co, N Y
4g
er “ Indu strlals"
1,000
Old Colony Tr Co Boston
240,000
M ft S Sept 1 1922
5g
2 250 000
1,000
5 g .1 ft J Juiy 1 1937
1,000
2,199,000
M ft N May 1 1933
120 Broadway New York
5g
1,000
801,000
M ft N May 1 1933
do
do
5g
1,000 2,250,000
120 Broadway New York
5 g J ft J July 1 1937
1,000
462,000
A ft <) Oct 1 1912
do
do
6g
4,275,000
1,000
4 g A ft O Apr 1 1921
do
do
,\1 ft N May 1 1930
1,000
1,105,000
6g
do
do
1,920,000
1,000
5 g .1 ft .1 July 1 1941
do
do
6
709,000
1,000
J ft 1) Dec 1 1925
do
do
6
180,000
A & O Oct 1 1911
1.000
120 Broadway New York

GROVETON LUFKIN ft NORTHERN RY.— V. 90, p. 109.
GUAYAQUIL & QUITO R Y.— See page 70
GULF & INTER-STATE R Y.—See page 172
GULF LINE RY.— Owns Ashburn Ga., to Brldgeboro, 32 miles; track­
age Ashburn to Worth. 6 miles: leases (to April 1 1953, with option to
purchase) Hawkinsvllle & Florida Southern, Hawklnsville to Worth, 44
miles; total, 79 m. Stock auth., $400,000. Bonds auth., $325,000 30-yr.
gold 5s, Atlanta (Ga.) Trust Co., trustee, all In treasury Sep. 1909. For
year ending June 30 1909, gross, $136,336, against $114,520 in 1907-08; net,
$34,491, against $1,056. Pres., W. J. Edwards; Sec. and Treas., C. H.
Reynolds, Sylvester, Ga.— (V. 86, p. 420; V. 89, p. 847.)
GULF ft SHIP ISLAND RR.— (See M ap.)— Owns i om Gulfport, on
Mississippi Sound, Gulf of Mexico, to Jackson, Miss., 160.5 m.- Columbia
dlv., Maxle to Mendenhall, 104.75 m. Branch from Saratoga to Laurel.
41.75 miles: total. 307 miles. Important harbor Improvements have been
constructed at Gulfport. Including an extensive system of docks, piers, <5cc.;
also a channel 7 miles long extending to deep water.
STOCK.— Capital stock, $6,500,000 (par of shares, $100). outstanding.
DIVIDENDS.— April 1903 to Jan 1910,4% yrly. (Q.-J.). V. 88. p .1620.
BONDS.— Of the Hist 5s ($5,000,000 authorized;, $4,984,000 are out­
standing, remaining $16,000 being reserved to retire a like amount of old
bonds still outstanding. A yearly sinking fund of 1 % of bonds outstand­
ing, which became operative Jan. 2 1905, may purchase bonds at not
exceeding 110, but the latter, cannot be drawn; bonds so ->ur< based to be
kept alive In the sinking fund as an Investment. On June 30 1909 $270,000
bonds were In the sinking fund. See V. 74, p. 426, and application to list
V. 74, p. 1257; V. 81, p. 264. The mtge. gold 6s of 1908 ($ t.000 000 origi­
nal Issue), of which $250 000 matured April 1 1909, Issued to partly defray
the cost of 60 miles of road, mature $250,000 1910 and $500,000 In 1911,
secured on entire property, subject to first ref. 5s. V. 86, p. 547, 1100.
Car trusts June 30 1909, $255,424.
EARNINGS.— For 5 months ending Nov. 30:
Five
Gross
NeKafter Other
DeducBal., Sur.
M os.—
Earns.
Taxes).
Income. tions.
or Def.
1 909........................ .$899,631 $256,482 $5,106 $158,746 sur.$102,842
^ 0 8 ........................... 758,690
148,784
3,286 170,793
def. 18,723
REPORT.— Report for year ending June 30 1909 was In V. 89, p. 1066.
Year—
Gross.
Net.
Other Inc. Charges.
Balance.
1908-09 ...........$1,873,196
$404,761
$7,702
$407,805
sur.$4,658
1907-08 ______ 2,066,328
336,619
27,064
371,451
def. 7,768
Pres., J. T. Jones, BuHalo, N. Y .— (V. 88, p. 1620; V. 89. p. 1066.)
GULF TERMINAL CO.. MOBILE. — Owns union passenger station and
approaches at Mobile Ala., leased by the Southern Ry and Mobile & Ohio
RR.. which own the stock and guarantee the bonds Jointly and severally,
p. & 1., by end. Franklin Trust Co., N. Y ., Is mtge. trustee. V. 84, p. 50
GULF TEXAS ft WESTERN RY.— Projected from Burr’s Ferry to
Benjamin, Tex., 475 miles, of which Jacksboro to Olney, 40 miles, had
been completed In Oct. 1909 and 35 miles to Seymour on Jan. 15 1910.
Stock authorized, $500,000; outstanding Jan. 3 1910, $50,000; par of
shares, $100. Of the first 5s ($10,000,000 authorized issue), $1,057,000
have been issued on the first 50 miles completed from Jacksboro to Megargel.
V.
89, p 993, 1223; V. 90, p. 109. Equipment trusts, $27,200 5s due
Gross operating revenues______________________ $53,687,444 $54,429,633
from about Aug. 1909. Pres., J. J. Jermyn, Scranton, Pa.;
Net operating revenue___________________________ $18,812,783 816,328,962 semi-annually
Vice-Pres.
Chairman of Board, Roy C. Megargel, 5 Nassau St., N. Y.;
Gross corporate Income__________________________$22,566,583 $20,164 477 VIce-Pres. and
and Gen. Mgr., Ben B. Cain, Dallas, Tex.; Sec. and Treas.,
Rentals paid...............................................
$230,890 $1,347,436 W. Frank Knox,
Dallas, Tex.— (V. 89, p. 993, 1223.)
Bond interest accrued_________
4,726,536
3,670,865
HARRIMAN ft NORTHEASTERN RR.— Harriman to Petros, Tenn.. 20
Guaranty Koot. Ry. & Nav. deb. stock Interest..
121,723
155,862
Int. accrued on subscriptions for additional stock.
............ ..
2,038,427 miles. In Jan. 1903 entire stock acquired In the Interest of the Cincinnati
Dividends on stock, 7 % _________
14,697,473 10,483,055 Ne.w Orleans ft Texas Pacific Ry., but Is operated separately. V. 76, p.
157. In 1907 a dividend of 4% and In June 1908 2JS% 'was paid from ac­
Bal., transf. to fund for perm, impts. & renewals $2,789,961 $2,468,832 cumulated surplus. Stock, $600,000. Year to June 30 1908, gross, $111,­
OFFICERS.—Chairman, James .) Hill, St. Paul; Pres., I.ouls W. Mill, 138; net. $32,402; chgs.. $22,982; bal., sur., $9,420.— (V. 76. p. 212.)
HARTFORD ft CONNECTICUT WESTERN RY.— Hartford, Conn., to
St. Paul; V.-P., It. I. Farrington; V .- P. & Treas., E. T. Nichols, N. Y.;
Asst. Treas. ft Sec., E. Sawyer, St. Paul; Asst. Sec. and Asst. Treas., Rhlnecllir, N. Y ., 110 miles, and branch, 14 miles. Leased till Aug. 1940
to Central New England Ry. (now controlled by New York New Haven ft
N Tcrhune. New York office, 32 Nassau St.
Directors—J. J. Hill, Frederick Weyerhaeuser, E. Sawyer, R. I. Far­ Hartford R R .), the rental paying charges and 2% per annum on the stock,
rington, H. W. Cannon, Samuel Thorne, Louis W. II111, Wm. B. Dean, E. T. of which $1,6J0,000 owned by lessee.— (V. 83, p. 213. 1290.)
HAWKLNSVILLE ft FLORIDA SOUTHERN RY.— Worth to HawklnsNichols.— (V. 89, p. 847, 1066. 1069, 1138, 1141, 1145, 1482, 1596.)
Ga.. 44 mll*s.
Leased May 1 1907 to Gulf Line Ry. until April 1
GREEN BAY ft WESTERN RR.— Road owned from Green Bay, WIs., vllle,
1952
with option of purchase.
V. 84, p. 1247.
Stock. $100,000,
to Marshland, WIs., 209 miles; branches, 13 m.; trackage to Winona, 4 m. acquired
in April 1904 by Georgia Southern ft Florida, which guarantees
HISTORY.— A reorganization June 5 1896 (per plan In V. 61, p. 471),
bonds (see table above), principal and Interest. Year ending June 30 1907,
SECURITIES.—There are no fixed charges on the property other than gross $55,174; net, $8,247; total deduc., $13,542; bal. def , $5,295.
taxes, nor can any be placed thereon, or the property be sold or leased Pres., J. B. Munson; Treas., W. P. Hopper, Macon, Ga.— (V. 84, p. 1247.
without consent of 75% of stock. Class A debentures are entitled to 2 W%
HIBERNIA MINE RR.— Owns from Rockaway, N J., to Hibernia
interest. If earned, then common stock to 2 t$%, then the two share ratably; Mines. N. .)., 4H m. Leased to Cent, of N. J. In 1890 for $12 000 per ann.
but after 5% on both, class B Is entitled to all surplus earns. V. 61, p. 471.
HOCKING VALLEY RY.— (.See M ap.)— This company owns main line
DIVIDENDS—
'98.
’99.
'00.'01.’ 02.’ 03.'04.
’05-'07.Rockwell
'08. 1909. to Columbus, 120 miles; Columbus to Athens, 76 m.; Logan to
Class " A " deben— % 2M 2H 2H
3
4 4
4 5 y’ly.
5
5
Pomeroy .83 m.: total main line, 279 miles, with trackage (Penn. R R .
S t o c k ____________ % - - - LH
3
4 4
4 5 y’ly.
5
5
system) Toledo to Walbrldge, 5.5 m.; (L. S. & M. S. Ry.) Toledo to Rock­
Class “ B” deben— % — .......................—
— -------H %,Feb well, 2.5 m.; (P. C. C. & St L. Ry.) Columbus, O.I5 m.; total main line and
trackage. 287.5 miles. Branches, 45 m.; leases W & J. B. R y., Dundas to
EARNINGS.— 5 mos.,11909------- -------- Gross, $260,707; net, $99,439
July 1 to Nov. 30.
J1908...................Gross, 269,071; net, 95,807 Jackson, 17.5 m.; total, 350 miles; second track, 48.5 miles.
HISTORY, &c.— Successor Feb. 25 1899 per plan V. 68, p. 231, of
REPORT for year ending Dec. 31 1908, In V. 88. p. 879.
Columbus Hocking Valley & Toledo Ry. foreclosed. The coal lands aggre­
■Jal
Gross
Net over
Dio. on
Dividend
Dio. on Balance. gate about 20,975 acres, and are covered by the consolidated mortgage.
Year
Earns. Dep.,&c. D eb."A "s. on S'oclc.
Deb. "B "s. Surplus.
In April 1909 the Ohio Lower State Court held illegal the control of the
1908' - $602,106 $182,037 (5)$30,000 (5)$125,000 (%)$26,250
$787 Kan. ft Mich., Toledo ft Ohio Central (V. 69, p. 1345), Zanesville & West­
1907......... 666.838 204,577 (5) 30,000 (5) 125.000 (H ) 35.000 14,577 ern and the allied coal properties. The Toledo & Ohio Central has been
DIRECTORS.— S. S. Palmer, Pres.; Charles W. Cox, Sec. and Treas., operated Independently since July 1909. V. 88, p. 1127, 1253; V. 89, p.
Wall St.; C. Ledyard Blair, J. A. Jordan, W. J .Wilson.— (V.89, p. 15 .2.)
GREENE RR.— Owns road from Chenango Forks to Greene, N. Y., 8 l l pREF. STOCK.— Has preference as to assets and dividends and will
miles. Leased to Delaware Lack. & Western for term of charter for 0% on share equally with com. In any dlv. above 4% in any year. V. 80, p. 1111.
SALE o r STOCK, &c.— In June 1903 $6,924,200 of the outstanding
stock. Stock. $200,000; par, $100. D. L. ft W. owns $200,000 7% bonds.
$11,000,000 common stock was sold to five railroad companies, viz.: The
GREENWICH & JOHNSONVILLE RR.—See page 172.

Co. V. 85, p. 921, 1405. And in Dec. 1906, unit for unit, 1,500,000 shares
of beneficial Interest In the Iron ore properties. See "General Finances."
BONDS. —St. P. Min. & Man. consol, mtge. of 1883 Is for $50,000,000. or
which bonds are reserved to pay prior liens. It Is a llrst lien on the land
rant and on 670 m of railway In Minn, and a second lien on the remaining
,873 miles In Minn, and the Dakotas. In Dec. 1908 It was proposed to
Issue the $9,024,000 bonds remaining unissued as 4s in exchange for the
same amount of underlying bonds. V. 64, p. 518; V. 86, p. 229; V. 87,
p. 1533; V. 88, p. 295. 624, 1061, 1372. Montana Ext. mtge. is for $25,­
000,000 for extensions and for second track. Abstract, V . 45, p. 342.
Pacific Extension mtge., £6,000,000, provides toi bonds at £6,000 pei
mile In Montana and £7,000 per mile west of Montana; £3,000,000 of this
issue (of which £1,000,000 sold) were released upon payment of collateral
trust bonds Sept. 1 1898. V. 66. p. 1044, 1188; V. 80, p. 1111, 1174.
See abstract of mortgage V. 52, p. 82.
In 1904 the Gt. Northern and Nor. Pac. had acquired $107,612,600 of the
$110,839,100 Chicago Burl. & Quincy RR. stock, in exchange for their
Joint 20-year 4% gold bonds, secured by the deposit of the stock In trust
on basis of $200 In bonds for each $100 stock. Sec circular. V. 72, p. 871.
1034 1135, and application to list V. 73, p. 294, 903; V. 85. p. OOO.
Eastern Ilv. of Minnesota.— Nor. I)!v. mtge. of 1898 limited to $9,700,000
arc red. at 105 after April 1 1928. V. 66, p. 471; V. 88, p. 1002, 1253.
The Willmar & Sioux Falls bonds are guaranteed. Further issues may
be made at $17,500 per mile for additional road. V. 56, p. 247.
GENERAL FINANCES.— Total funded debt per mile of main track
(4,961 m.) In the hands of the public June 30 1909, $20,205. V. 85, p. 1277.
Train-load. 1908-09, 502 tons, against 509 In 1907-08.
In Oct. 1906 a contract was signed for a lease of the ore lands to the U. S.
Steel Corp., to continue until the ore Is exhausted, unless the lease Is termi­
nated on Jan. I 1915 under the option reserved to the Steel Corp., on a roy­
alty basis of $1 65 per ton standard ore with 3.4 cts. per ton Increase each yr.;
minimum tonnage to be mined, 750,000 tons during 1907, with 750,000 In­
crease each year until 8,250,000 Is reached. The Iron ore properties were
transferred to Louis W. Hill, James N. Hill and Walter J. Hill as trustees,
the l ,500,000 shares of beneftclal Interest In the trust equal to the number of
shares of stock held being Issued Dec. 1906 to Great Northern stockholders.
The profits from the Iron properties, after first deducting the 80c. per ton
payable to the Gt. Northern Ry. for carrying the ore to the docks on Lake
Superior, will be distributed along with any profits from other ore leases
at least once a year to the holders of the trust certificates. See V. 83,
p. 818, 969, 1228, 1290; V. 84, p. 635, 693, 749, 996; V. 86, p. 855. First
dlv. on ore certs.. $1 per share paid Sept. 16 1907; March 16 1908, $1;
Sept: 15 1909, $1. V. 87, p. 740, 936.
EARNINGS.— 5 m os.,11909..........Gross, $31,078,621; net, $15,246,182
July 1 to Nov. 30. J1908 ____ Gross, 26,669,912; net,
12,034,88 7
REPO RT.— For 1908-09 In V. 89, p. 1066, 1138, 1145; editorial, p. 1114.
1908-09.
1907-08.
Average miles operated............................................
6,808
6,594
Passenger earnings______________________________ $10,977,948 $11,189,553
F reight...................................................................... - 39,464,811
40,311,4:0
Mall, express, & c ______
3,017,703
2,711,100
Other than transportation--------226,982
217,560

f




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(EASTERN SECTION )




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Dillon

Red Lodge.

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Rocky Bar

(WESTERN SECTION)

[albert

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GREAT NORTHERN RAILWAY

L J. E N A

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Crown Rock

DayvilleVQ_^ohnI)§yv
PrineyilleQ canyon City Q

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Hailey

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Shoshone Jc.
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Pocatello

Lyons
Douglas\
Irrint

Lwford

64

RAILWAY STOCKS AND BONDS.

11AILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

M ties Date
Hoad Bonds

1907
Hudson & Alanhat— 1st M $100,000,000 conv. S.xc*&r
1902
New York & Jersey first mortgage red 110..G.C
1909
Car trusts $46,000, due seral-ann_____________ (i
70
Huntingdon & Broad Top—Common stock_________
70
Preferred stock 7% non-cumulatlve________ _____
70 1854
First M extended In 1890 (Interest only In gold) --G P
70 1857
Second M old 7s extended In 1895 p & 1 gold___ (iP
70 1865
Third M consol extended In gold In 1895___ GP.c*
1 99
14th Ser car trust $29,000 yearly Dec 1_____ PeP
__ 1907
Car trusts gold due $33,000 yearly (V. 84, p 1424).
103 1907
Idaho & Wash Nor— First M g red t e x t ------- ----- IC
_ 1909
Idaho Southern—-1st lien notes part due yrly red 102 y
___
Illinois Central— Stock $123,552,000...........................
__
Leased line 4% stock guaranteed (see remarks) —
1875
First mtge of Sterling bonds old 6s extend In 18951
1875
1 8 7 4 f o r Sterling bonds extended In 1905__
706
1886
$15,000,000 4s of 1886 due 1951 gold----- c*&r
1886
secures a 1 1 3 )4s of 1886 due 1051 gold__ c*&r
1895
equally . Us 3s of 1895 due 1951 gold___ c*&r
1903
(V 83, o 76) 3 V4s of 1903 due 1951 gold__ c*&r
Trust bonds sterling (sec by Ch St L & N O cons) _ U
1886
First M Sp Dlv ref M (V 66, p 1237) g ----- Us.xc*&r
111 1897
Kank & S VV 1st M Otto to Norman June & br___
131 1881
Cairo Bridge bonds gold (see remarks)----- Us.c*&r
1892
St Louis Dlv & Term M $10,000,000 gold.Us.xc*&r 1 239 11897
do
$5,000,000 (See V 65, p 1173) g.Us.xc*&r
( 1897
Underlying St L) Bellevue & Carondelet 1st AI..c*
17 1883
Dlv & Termln-) Bellevue & LI Dorado 1st M_.c*
51 1880
al Mortgage _1St Louis Southern 1st M g__i\le.c*
30 1880
jCarb & Shaw 1st M g o ld .. _.c*
17 1887
Purchased lines 1st M $20,000,000 g o ld .. lJs.xc*&r
748 1904
Refunding mortgage gold red (te x t).........Gxc*&r* 2,015 1908
857 1888
Collateral trust bonds gold $ ----------------- Us.c*&r
Coll trust $25,000,000 gold on L N O & T_.U s.c*& r
798 1892
Western lines first mortgage gold--------------Us.c*&r
218 1894
Ch St L & N O cons Al ($18,000,000) g ln tg u ..c * & r
567 1881
do
guaranteed principal and Interest_______
567 1897
Memphis Dlv 1st M gold guar p & I (end) --U s.c*
100 1889
a Includes $5,266,000 consol 5s pledged to se cure I lllnols

Par
Value

Amount
Outstanding

$, £ or fr. $54,500,000
1.000
5,000,000
1,000
874,000
50
1,371,750
50 2,000,000
500
416,000
500
367,500
1,000
1,497,000
1,000
60,000
1,000
401,000
1,000
3,090,000
1,000
500,000
100 109,296,000
100 10,000,000
£200
2,500.000
£200
1,000,000
1,000
1,500,000
1,000
2,499,000
£200
£500,000
1,000 &c
3,000,000
£200
5,266,000
1,000
2,000,000
1,000
968,000
1,000
3.000.000
500 &c
8.377,000
1,000
4.998,275
1,000
470,000
1,000
71,000
1,000
538,000
1,000
241,000
1,000 &c 14,662,000
1,000 &C 20,000,000
500 &C 15,000,000
500 &c 25,000,000
1,000
5,425.000
1,000 a l6 ,635.000
1,000
1,359,000
1,000
3,500,000
Central o ollateral tru

Pittsburgh Cincinnati Chicago & St. Louis (two-sixths Interest) and Balti­
more & Ohio Chesapeake & Ohio. Lake Shore & Michigan Southern and
Eric (each one-sixth).
V. 83, p. 37; V. 77, p. 36, 1225.
DIVIDENDS.— On preferred, 11)00, 3)S% ; 1001 to Jan 1910 Inch, 4%
per annum. On common. July 1901 to Jan. 1907 Inc! 3% per annum;
July 1907, 2% ; 1008 and 1909, 4% (J. &. J.); 1910, Jan., 2% .
BONDS.— The consols ($20,000,000 authorized) besides a lien on the
entire property, subject only to $5,426,000 prior bonds, have a first Hen on
all the coal lands: $5,426,000 consols are reserved to retire the existing bonds
(the latter may be extended at maturity). V. 72. p. 338: V. 74, p.
1038: V. 86, p. 229. Substantially all of the bonds and stock of the
Ohio Land & Ry..Co. and the Wellston & Jackson Belt Fty.. 18 miles, are
deposited under said mtge. V. 68, p. 823. Guarantees Kanawha & Hocking
Coal & Coke Co. bonds. V. 74, p. 271; V. 77, p. 2393; V. 81, p. 507, 781:
also Continental Coal Co. bonds. V. 75, p. 497, 987; V. 88, p. 1127. In June
1908 control of Sunday Creek Co., which operates said properties and the
coal properties (see "Industrials” ) .was sold, to be held In trust and re-con­
veyed to company If authoritatively decided that Hocking Valley company
has a right to hold It. 'In May 1909 the commodity clause of Hepburn
Act was held to be Constitutional, but construed favorably to railroads
V. 87. p. 755: V. 88, p. 1196.
LATEST EARNINGS.— For 5 months ending Nov. 30:
5 Months—
Gross.
Net.
Other Inc.
Charges.
Balance.
1909
.............$3,353,991 $1,367,341 $274,532 $598,090 $1,013,783
1908 _________ 3,016,052 1,132,725
314,582
595.403
851,904
ANNUAL R EPO RT.— Traffic Is mostly freight, and over 66% of this Is
bituminous coal. Average train-load Is large— In 1909 588 tons.
Report for year ending June 30 1909 In V. 89, p. 716, 725.
Inc. (% ) or
Year ending June 30—
1908-09.
1907-08.
Dec. (— ).
Operating revenue___________________$5,878,414 $5,841,763
+$36,651
1,716,592
1,533,887
+182,705
Net (after t a x e s ...______
Other Incom e_______________________
981,495
980,395
+1,000

Hate
%

When
Payable

[VOL. L X X X X
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

4M g F & A Feb 1 1957
F & A Feb 1 1932
5g
5
M & S Alch’ t0-AIch ’ 19
See text J & J Jan 28 1904 1%
See text .1 & J Jan 25 1908 3 M
A & o Sept 30 1920
4g
4 g F & A Feb 1 1925
A & () Mch 31 1925
5g
4
J & 1) To Dec 1 1911
4 ) I g A & O Apr’ IO-Oct ’21
M & N May 1 1932
5g
6
Al & N Alay 1 ’ 12-’ 14
7 In 1909 M & S Alch 1 1910 3M,
4
J & J Jail 3 1910 2%
A & o Apr 1 1951
4g
3)3 g J & D Dec 1 1950
4 g J & J Jau 1 1951
3 K g J & J Jan 1 1951
3 & AI & S Alch 1 1951
3M g A & o Apr 1 1951
3 K g J & J July 1 1950
3M g J & J Jan 1 1951
F & A Aug 1 1921
5
4 g J & D Dec 1 1950
3 « g J & J July 1 1951
3 g J & J July 1 1951
6 g J & D June 1 1923
J & J July 1 1910
7
Al & S Sept 1 1931
4g
Al & s Alch 1 1932
4g
3)4 g J & J July 1 1952
Al A N Nov 1 1955
4g
A & (> Apr 1 1952
4g
Al & N Nov 1 1953
4g
F & A Aug 1 1951
4g
5 g J & D 15 June 15 1951
3 H g J & D 15 June 15 1951
4 g J & D Dec 1 1951
st bonds of 1886.

Standard Trust Co, N Y
Guaranty Trust Co. N Y
do
do
Phlla oil. No Amcr Bldg
do
do
do
do
do
do
do
do
Penn Co for Ins &c.Phlla
Phlla Tr S D & Ins Co
III Tr & Sav Ilk. Chicago
Commonwh TrCo, Pitts
115 B’ way, N Y , & Lond
do
do
London, E gland
d>
do
115 Broadway. New York
do
do
London
New York and London
Baring Brothers, London
115 Broadway,New York
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

low) , which It controls. The building erected at 33d St. and Broadway,
N. Y ., and leased to GImbel Bros, will be ready for occupancy April 1 1910.
V. 88, p. 748, 1127; V. 90, p. 234.
Ownership of equities In N. Y. City property Is stated to be $4,500,000.
CAPITAL STOCK.— Auth. and outstanding, $16,000,000 pref. and
$5,000,000 common. Pref. stock to receive 7% cumulative dividends, and
also entitled to one-fourth of any other dividends.
Gold Notes Dec. 1909
(Compare plan V. 87, p. 1010).
Date—
Interest. Outstanding.
Maturity.
Price at Which Callable.
Feb. 1908 6 F-A $2,114,000 Aug. 1 1910 Prem. 1 % yrly. to maturity
Oct. 1908 6 A-O 10,000,000 Oct. 15 1911 Par and interest
V ariou s___ ■ Var. 1.440,500 ToMch.1910 Not stated
Aug. 1909 5 F-A 3,000,000 Aug. 1 1912 Par and Interest
Holders of the notes of the $10,000,000 Issue have the option of taking
payment at maturity, or when called. In first mtge. bonds of the Hudson &
Manhattan R R . Co., at price of 85 and Interest, and of the notes of the 1909
Issue at 95 and Interest. All the notes are secured by pledge of H. & M.
R R . Co. first mtge. 4H % bonds, due 1957, the two Issues first named and
the last named at rate of $1,500 of bonds for each $1,000 note outstanding.
V. 86. p. 285, 547; V. 87, p. 37; V. 88, p. 1196: V. 89, p. 1280.
Statement for year 1909, V. 90, p. 234.
DIRECTORS.— W. G. Oakman, Pliny Fisk, Grant B. Schley, William
C. Lane, John W. Simpson, Wm. M. Barnum, Albert A. Tllney, Kenyon
B. Conger, Wm. Henry Barnum, Charles F. Adams 2d, Arthur B. Westervelt, P. G. Bartlett.
OFFICERS.— W. G. Oakman, Pres.: Wm. Henry Barnum, V.-P. &
Treas., F. W. Walz, V.-P.; William Everdell Jr., Sec.: Charles M. Jacobs,
Chief Engineer: John Van Vleck. Mechanical Engineer. Office. 62 Cedar
St., New York City.— (V. 88, p. 1169; V. 89, p. 1280; V. 90, p. 234, 236.)
HUDSON & MANHATTAN RR.— (.See M ap.)— Owns and operates
double-tube tunnel from 6th Ave. and 23rd St., N. Y. City, under the
Hudson River to the Delaware Lack. & West. R R . station. Hoboken, N. J.,
Gross corporate Income____________ $2,698,087 $2,514,282 +$183,805 a distance of about 3 miles. The first trains were operated Feb. 26 1908.
Fixed charges, &c.............
$1,182,097
$1,149,600
+$32,497 The line under 6tli Ave. Is being extended to 33d St. and In April 1909 per­
Dividends on preferred, 4 % _________
600,000
600,000 ---------------mission was granted for further extension to 42d St. and Grand Central
Dividends on common, 4 % _________
440,000
440,000
_____
Station. A branch will also be built from 6th Ave. under 9th St. to a con­
Im provements_____________________
79,655
101,754
— 22,099 nection with the Subway at lth Ave. A double-tube tunnel from Hoboken
southwardly through the Erie and Pennsylvania R R . stations In Jersey
Balance, surplus................................. $396,334
$222,928 +5173,406 City and thence under the Hudson River to the Hudson Terminal Buildings
OFFICERS.— Pres., N. Monsarrat, Columbus: Sec. and Treas., W . N. on Church St. (one block west of Broadway) extending from Cortlandt to
Fulton St., was opened on Aug. 2 1909, making total length of double­
Cott, Columbus; Asst. Sec. and Treas., A. II. Glllard, New York.
track tunnel In operation 5 >4 miles. This Is the main lino. V. 87, p. 37
DIRECTORS.— Charles B. Alexander, R. M. Gallaway, A. II. Glllard, 614, 1011; V. 88 p. 295, 451, 686, 944, 1197, 1437, 1620; V. 89. p. 224.
D. Milbank and F. D. Underwood, New York; Ralph VV. Hlckox and
An extension is being built from tho Pennsylvania RR. station In
James H. Hoyt, Cleveland: P. W. Huntington, N. Monsarrat, S. P. Bush, Jersey City to a connection with the present main line of the Pennsylvania
R. S. Warner and F. B. Sheldon, Columbus, O.; Decatur Axtell, Rich­ RR. and, upon Its completion In 1910, a through train service will be
mond, Va.— (V. 89, p, 725.)
established between the Hudson Terminal Bldgs., In New York, and New­
ark, N. J., under a traffic agreement. Tho Pennsylvania, Lehigh Valley,
HONDURAS NATIONAL RR.— V. 90, p. 109.
Erie and Susquehanna RRs. have ticket offices in tho Hudson Terminal
HOOSAC TUNNEL & WILMINGTON RR.— See page 172.
Bldgs. A traffic agreement has also been entered Into with the Erie RR.
HOUSTON BELT LINE & TERMINAL RY.— Owns a terminal line The Hudson Terminal Bldgs., tho largest office buildings In tho world,
In and around Houston, Tex., 20 miles, with large freight and passenger ter­ were opened May 1 1908. Trains, electric and all steel.
minals. Controlled by fourproprletary roads, viz., Col. Southern, New Or­
STOCK.—Common. $40,000,000, all out; 5% non-cum. pref., with prefer­
leans & Pacific (St. Louis & San Fran.), Trinity & Brazos Valley (Col. South­
ern), St. Louis Brownsville & Mexico and Gulf Colorado & Santa Fe (Atchi­ ence also as to assets, and convertible after July 1 1911 Into common stock
son system), which each owns one-fourth of the stock and under a 99-year at 110, authorized Issue $10,000,000: outstanding $5,250,000. Par $100.
lease from July 1 1907 agree to pay under a pro rata whcclage basis operat­
BONDS.— Of tlm 1st 4J4s, $54,500,000, in connection with $40,000,000
ing expenses. Interest on bonds and annual sinking fund of 1% of bonds common and $5,250,000 pref. stock, have been Issued on account of tun­
Issued. V. 86, p. 285: V. 89, p. 1668. Incorporated Aug. 31 1905 with nels. stations, power houses and extensions, and the two buildings at tho
$25,000 (nominal) stock. The 5s of 1907 ($5,000,000 autli. Issue) ate sub­ Hudson Terminal In New York. Of tho remainder, $5,500,000 will be used
ject to call as a whole at 105 after July 1 1917 or for a yearly sinking fund to retire the $5,000,000 N. Y. & Jersey 5% bonds redeemable at 110, leav­
of 1% of the amount outstanding. In March 1909 the Texas RR. Com­ ing unissued $40,000,000 bonds and $7,500,000 pref. stock available for
mission authorized the Issue of $2,246,000 bonds. V. 88, p. 883, 1253, future purposes.
.
.
. .
..
1313.— (V. 89, p.
1668.)
Of the 4 V4s Issued as above stated, part are deposited as collateral
for Hudson Companies notes (see that company above) .
HOUSTON & BRAZOS VALLEY RR.— See page 172.
The bonds will b<> convertible on any Interest day after Feb. 1 1912 at
HOUSTON EAST & WEST TE XAS RY.— (See Map of Southern Pacific. par Into common stock at $110 per share, with provisions to protect the
Owns from Houston, Texas, to Sabine River at Logansport, 191 mles. bondholders when common stock, In addition to the $40,000,000 at present
Stock $1,920,000, of which $1,918,200 owned by So. Pac. Co., which has authorized and the further amount necessary to convert the bonds. Is Issued.
guaranteed $2,199,000 of the bonds, prln. and Int., by endorsement, re­ In Feb. 1909 $920,000 5% car trusts were sold. V. 88, p. 505, 624.
serving the right to redeem them at 105 and Int. on six months’ notice.
Balance sheet June 30 1909, V. 89, p. 1411.
Dlv. 16% paid in 1902-03 and 30% In 1907-08 out of accumulated
OFFICERS.— Pres., VV. G. McAdoo; V .-P., Wilbur 0. Fisk; Asst. Treas.,
surplus. Guaranty, V. 70. p. 841; V. 71, p. 236.
F.
VV. Walz; Sec., C. VV. King; Asst. Sec., Wm. J. Martin and Wm. Ever­
Year 1908-09, gross, $1,236,058; net, lncl. other inc., $450,081; charges,
dell Jr.; Comptroller, H . S. Corwin; Auditor, F. H. Sllllck. Executive
$234,756; bal., sur., $215,325.— (V. 78, p. 2384.)
offices,
30 Church St., N. Y .— (V. 90, p. 110.)
HOUSTON & TEXAS CENTRAL RAILROAD.— (.See Map of Southern
Pacific.)— Owns from Houston, Texas, to Denison, Texas, 338 miles; Hemp­
HUNTINGDON & BROAD TOP AIT. RR. & COAL CO.— Owns from
stead, Texas, to Llano. Texas, via Austin, 215 miles; Bremond to Ross, Huntingdon. Pa., to Mount Dallas, Pa., 45 miles; branches, &c., 25 miles.
Texas, 55 m.; Garrett to Ft. Worth, 53 m.; Mexla to Nelleva, 94 m.; other.
’97. ’98. ’99. '00. ’01. '02. ’03. ’ 04. ’05. ’ 06. ’67 ’0 8 .’09.
34 m.; total, 789 m. Successor 1893 to railway foreclosed. V. 45, p.792, 820. OnDIVID'S.—
common____ 1
0
0
0
0
0
5
1
0
0
0
0
0
BONDS.— The bonds arc being gradually reduced with proceeds of land On preferred . . . 6
5 5 ) 4 7
5
6
7
65)4 7) 47 3 ) 4 0
sales. The first mortgage was for $8,634,000. The first mtge. bonds and
ANNUAL
REPORT.—
Report
for
1908
was
In
V.
88,
p.
1058.
the consolidated mtge. bonds may be called for redemption at 110 with pro­
Gross.
Net.
Interest.
Dividends.
Balance.
ceeds of land sales. See full abstracts of all the mortgages In V. 52, p. 242. 1908 .............$632,933
$148,522
$106,190
$70,000 <!ef.$27,668
Of the $5,068,000 consolidated 6s authorized $1,149,000 (not Includedln 1907 ............. 884,686
106,190
140,000
71,870
the amount outstanding above) are held as part security for the general 4s. — (V. 86, p.' 420: V. 87, p. 318,060
166’, 221; V. 88. p. 451, 564, 1058.)
There were also June 30 1909 $450,000 Lampasas extension Interim 5s
owned by Southern Pacific Co. or sinking funds of proprietary companies.
IBERIA & VERMILION RR — Salt Mine Juno, to Abbeville, La., 15
STOCK.— Stock, $10,000,000, of which the Southern Pacific Co. owned miles. Stock, $300,000, of which $299,500 owned by Morgan’s Louisiana
$9,998,300, par $100. V. 76, p. 1084, 1192, 1407. In 1902-03 a dividend & Texas RR. & SS. Co. (So. Pac.). Bonds, $322,000 first mtge. 5s, duo
Aug. 1943. Year 1908-09, gross, $60,755; net, $22,578; other Income.
of 6% was paid out of accumulated surplus. V. 76. p. 1407.
LANDS.— The lands June 30 1909 held for cancellation of bonds consisted $8,291. charges, $24,346: balance, surplus, $6,524.
IDAHO SOUTHERN RR.— See page 172.
of 264,832 acres; land contracts, $2,527,871. V. 65, p. 869.
Year 1908-09, gross, $5,911,353; net, $1,458,563; other Income, $41,410;
IDAHO & WASHINGTON NORTHERN RR.— Owns McGuire’s Station,
Charges, $944,662; bal., sur., $555,311.— (V. 89, p. 778; V. 90, p. 54.)
Ida., northerly to Cement, 103 miles; trackage Spokane to Grand Junction,
HUDSON COMPANIES.— Incorporated Jan. 9 1905 under laws of New 13 miles; Clagstone branch, 6 miles. Controls Pend d’Orellle River Nav.
York State. Organized to build Hudson & Manhattan RR (which see be­ Co. Stock authorized, $5,000,000: outstanding, $1,078,800; par, $100.










co

N o rth G e rm a n L lo y d
S .S . C o 's P ie r s /
n a m b u rg -A m e ric a n
S .S . C o 's P ie r s

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LACKAWANNA
STATION m .

ECTION

C A R 'S H O P S

'^'STORAGE
^RANO_

HUDSON
BUII
30 CHt

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\CDNNECTION V a
AVITH SUBWAY V
'T r i p I t y X h u r c h

a n

DOUBLE T R A C K T H R O U G H O U T .

J




M A P OF

k HUDSON & MANHATTAN RAILROAD
HUDSON TUNNEL SYSTEM.

.,

1910.]

RAILWAY STOCKS AND BONDS.

,NEWARK

The Battery\ f

TTurwct^t'CrBrooklyn

AMERICAN BANK NOTE COMPANY, NEW YORK

t)8

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]
Omaha D1v IstMgd $5,000.000____________ Use*&r
Lltch DIv 1st M g $4,000,000 _______________ F.c*
Iowa Falls A Sioux City— See statement of Dubuqu
Illinois Southern— 1st M gold $5,000,000.................c*
Illinois Terminal— 1st M $500,000 gold red par___ IC
Illinois Tunnel Co— See Chicago Subway Co.
Indiana Decatur & Western— See Cln Ind & Western
Indiana Harbor Belt— GenM$25.000,OOOg-.O xc*&r*
do
do
do
______
Chic Ham & W first mortgage gold assumed. _c*Ar
Indiana Illinois & Iowa— See Chicago Ind A South.
Indianapolis & Louisville—-See Chicago Indianapolis
Indianapolis Un— 1st M gold s I not callable___ FP.c*
Gold notes part due yearly guaranteed text______
Interborough-Met Co— Com stock $100,000,000 auth.
Pref stk 5% cum (also prel as to assets) $55,000,000
Coll trust bonds gold sec by Int R T stock___ c*Ar
Coll trust notes $15,000,000 gold call 102........ Me.c
Collateral trust notes extended In 1008___________
Interborough Rapid Transit— Stock $35,000,000------Gold M bonds $55,000,000 red 105 (text) ..G .xc*r*
Notes $25,000,000 sec by bds conv (text) __G.xc*r*
International & Great Nor— Receiver’s certs-----------First mortgage gold______________________________
Second mortgage gold_______________________ F.c*
3d M ($3,000,000) formerly Inc, Incl scrip g-.M e.c*
Colorado Bridge bonds sinking fund____________ F
Interoceanic Ry of Mex— 1st pref sh, 5% non-cum ..
Second preferred shares 4 % ____________ ______
4% debenture stock subj to call at par £1,150,000
Debenture stock 7% “ B” subj to call 120 non-cum
Second debenture stock red at 105 after 1011 (text)
Mex E deb stock £450,000 guar red at 105 beg 1914
Iowa Central— 1st M $7,650,000 g (V 49, p 582) -Me.c*
Refunding M $25,000,000 gold (see text)- - G.c*&r
Car trusts, ser A, due $32,000 yearly______PeP.c*
Jacksonville Term— 1st M gold guar $500,000_Mp.c*
Jamest'n Franklin &CI— IstM to Le guar__a.xc*&r*

Miles Date
Road Bonds
640
130
98
e & SI
132
Text

27.48

Amount
Ouisianding

Par
Value

1897 $500 Ac $23,888,000
1900 1,000 Ac
5,000,000
1900 i $1,000
3,235,000
oux Cl ty.
1,000
4,600,000
1903
1,000
450,000
1905
1907 1,000,&c
1907
1897
500 &c

A Lou lsvllle
93 1886
1904

1,000
5,000
100
. . 1906 1,000 100
Ac
1907 1,000 Ac
1907
Text
100
1907 1.000 Ac
1908 1,000 Ac
1908
1,100 1879
500 Ac
1,109 1881
500 Ac
1,109 1892
500 Ao
____
1880
1,000
____
£10
—
—
£10

.

_
____

503
541

______

1888
1901
____
1009
23 1894
—
1909

£100
£100
£100
1,000
1,000
1,000
1.000
l.OOO&c

Bonds are subject to call, any or all, at 107
from Nov. 1 1012 to May 1
1917, and thereafter at 105; In Aug. 1909 $3,090,000 bonds were offered,
secured on 103 miles. $1,643,000 additional bonds are Issuable at $30,000
per mile of additional road. V. 89, p. 411. For year ending June 30 1909,
gross, $294,018; net, $88,205; Interest on bonds, $76,500; balance, surplus,
$11,705. Pres, and Treas., F. A. Blackwell. Office, Coeur d’Alene,
Idaho.— (V. 87, p. 1160; V, 89, p. 411.)
ILLINOIS CENTRAL RR.— [See M ap.)— ROAD.— Operates from Chi­
cago, 111., southerly to New Orleans, La., 912 miles, and westerly to Sioux
City, la., 509 miles, with numerous branches, viz. (*whlch see);
Leased—Control owned—
Miles.
Road owned in fee—
Miles.
Mem., Tenn., to Grenada, Miss. 100
Chicago to Cairo, 111__ 1
izoo &
Val. R R .,
A Mississippi
‘
Centralla, 111., to EastlMaln
706 Yazoo
Memphis to N. O. and brs__ 1,370
Dubuque, la _______ Jstem.
Dubuque & Sioux City*............. 760 St. Louis Alton A Terre Haute. 239
Entire stock owned—
Springfield to East St. Louis,
111. (V. 71, p. 547).................
98 Branches, Ac_________________ 1,075
Trackage Ac______________
'71
Peoria, 111., to Evansville, Ind.,
with 6-mlle branch_____1___ 234
Total system June 30 1009...5,ii37
Leased—Control owned—
Of which earns, kept separate—
Chicago St. L. A N. O. R R .,
Cairo, 111., to New Orleans__ 547 Yazoo A Miss. Val. R R _______ 1,370
Line to Louisville, A c............. 637
Remainder Included In earnings July 1 1909_____________________ 4,567
HISTORY, LEASES, &c.— Chartered In Dec. 1850. The company pays
to the State of Illinois 7% (for the 6 months ending Oct. 31 1909 $589,361)
of gross of the 706 miles owned In fee yearly in lieu of taxes. The Chicago
St. L. A N. O. is leased for 400 years from July 1 1882 at 4% per annum
on Its $10,000,000 stock deposited to secure the leased line stock. Tax suit,
V. 84, p. 931.
The entire $5,000,000 capital stock of the Central of Georgia was turned
over to the Illinois Central In June 1909, but the road, it Is stated, will be
operated Independently, at least for the present. This will add 1,915 miles
to the system,providing a connection at Birmingham, Ala., and an outlet
to the Atlantic at Savannah. Ga. V. 86, p. 668; V. 88, p. 1559.
Indlanap. South’n R y., Indianapolis, Ind., to Effingham, 111., 177 m . Is
owned but separately oper. V. 78. p. 2442; V, 79, d . 733, 968; V. 85, p. 798;
V. 89, p. 286.
CAPITAL STOCK.— The leased line stock Is secured by deposit of $10,­
000,000 Chicago St. Louis & New Orleans stock. (V. 65, p. 1071.)
Stockholders voted May 18 1908 to Increase the stock from $95,040,000
to $123,552,000, one-half of the new stock being subscribed at par by stock­
holders, raising the amount out to $109,296,000. V. 86, p. 981, 1529.
On June 30 1909 Union Pacific owned $32,000,000 of the stock. V. 84,
p. 51, 102, 570; V. 86, p 480.
DIVS. 1 ’87. '88. ’89. *90 ’ 91-’ 99. ’00. ’ 0i.Sep.’04. ’0 5 to ’09. 1910.
Com. stk / 7
7 5H 8 5 yearly 5 ^
6 yearly
7 yearly Mch,3J$
BONDS.—Cairo bridge. See adv. In ’ ’Chronicle,” May 7 1892.
The trust bonds of 1886 are secured by deposit of $5,266,000 Chicago St.L.
A New Orleans consols of 1881. In May 1908 they were given a lien on the
road. See V. 86. p. 1343.
The collateral trust bonds of 1952 are secured by pledge with the U. S.
Trust Co. of New York of $16,350,000 5% 1st mortgage gold bonds of
subsidiary railroads covering 854 miles. See list, V. 55. p. 550.
The $25,000,000 collateral trust bonds of 1953 are secured by pledge of all
the Loulsv. N. O. & Texas (now Yazoo A Mississippi Valley R R .), $16,­
900,000 1st mtge. bonds, except $68,000, all the $9,104,000 mtge. Incomes
and all but $96,000 of the $10,000,000 land grant Incomes. See adv. In
•’Chronicle” June 11 1892, and V. 54, p. 964; V. 61. p. 112.
Chicago St. Louis & New Orleans 5? have their Interest guaranteed (by
endorsement) until the principal Is paid. The 3 Hs of 1897 are guar., prin­
cipal and Interest, by endorsement—see guaranty V. 65. p. 1071.
The Western Lines loan of 1894, see “ Supplement” of Jan. 1899.
The St.Louis Division A Terminal bonds are for $15,000,000 authorized,
of which $5,000,000 are three per cents; $3,500,000 were Issuable for Im­
provements, equipment, Ac., and $1,499,000 are held to retire $1,400,000
underlying bonds still outstanding on the St. Louis Alton & T. H. system;
Abstract of mortgage In V. 66, p. 138. See also V. 66, p. 133; V. 71, p. 546.
Louisville Division & Terminal mtge. Is for $25,000,000; of the bonds
$1,112,000 were reserved to purchase the 46 m. (Cecilia br.) from Louisville
& Nashville and to retire the L. A N. bonds thereon. Chicago St. Louis A
New Orleans took title to the Loulsv. Dlv. and joined In making mtge. See
V. 66, p. 136, for abstract; also "Supplement” of Jan. 1899. V. 65, p.
367, 516; V. 66. p. 133; V. 67, p. 581; V. 75, p. 671.
The purchased lines 3 Hs of 1904 ($20,000,000 authorized) cover various
minor lines acquired. Of the bonds, $14,662,000 have been Issued on 748
miles of subsidiary branch lines purchased (of which $2,662,000 In the
treasury In October 1909), and the remaining $5,338,000 Is reserved
to retire at maturity $968,000 bonds of the Kankakee A Southwestern
lsts duo 1921 (see bond table above), and $4,370,000 bonds of the Chicago
Madison & North. (231 m .), which are pledged for the collateral trust
4s of 1952. (See V. 71, p. 288: V. 79, p. 1273, 1642, 2588; V. 81, p. 1105.)
The refunding mortgage gold 4s of 1908 (authorized Issue $110,000,000,
with the privilege of Issuing $10,000,000 additional to acquire the Indianap­
olis Southern, Indianapolis, Ind., to Effingham, 111., 177 miles) are subject
to call at 107K and Interest on any Interest day beginning Nov. 1 1918.
See V. 87, p. 1357, 1420: V. 88, p. 295. Cover the main line, the Chicago
terminals, the so-called purchased lines, the Springfield Division, the St.
Louis Division, Ac., a total of 2,015 miles, subject to existing issues of
bonds aggregating $61,766,000, lncl. $2,500,000 Chicago Havana A West­
ern 5s and Rantoul RR. 5s pledged under 111. Cent, gold 4s of 1952.
Purposes for Which $90,000,000 Refunding Bonds Unissued Are Reserved
To retire a like amount of prior Hen bonds - - ............... ...... $61,766,000
Additional main track, tunnels and bridges, purchase of real
estate, Improvements, funding of Indebtedness and other
corporate purposes.................................. ...................................... 28,234,000
In April 1908 filed a first lien 4% gold $30,000,000 equip, mtge. due Jan. 1
1923 (U. S. Mtg. & Tr. Co., trustee). V. 86. p. 1042, 1343




[VOL.

RAILWAY STOCKS AND BONDS.

2,500,000
725,000
2,500,000

Rate
%

When
Payable

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

J July 1 1953
A Aug 11951
J Jan 1 1951

115 Broadway,New York
do
do
do
do

>T A D Dec 1 1953
J A J

New York
Illinois Tr & Sav Bk, Ch

3M g J
F
3g
3g J
4g
5g

A
&
A

LXXXX.

2-4 g J
4g J
0g J

&
A
A

,T
,T
J

1 1957

940,000
4H g M & N May 11926
80,000
M & S Sept 1910
4g
03,262,192
45,740,000 See text
Q— J July 1 1907 1 H
67,825,000
4H g A A 0 Apr 1 1956
See text
5 g J A J July 1 1910
6
2,549,400
May 27 1910
35,000.000 9 In 1909 Q— J lan 3 1910 2 H
M A N Nov 1 1052
11,655.000
5g
23,359,000
6 g M A N May 1 1911
a
140,000
M A N Nov 1 1919
11,291,000
6g
10,391,000 See text M A S Sept 1 1909
M A S Sept 1 1921
2,966,052
4g
198,000
7
M A N May 1 1920
£1,400,000 See text See text Dec 11 1909 5
£1.000 000 See text See text Dec 11 1009 1%
4
M & S 15
£1.150,000
£469,459
7
7 ’08-’09
£1,150,000
4H 4 Vi ’08’09 1950
1 1984
£400.000
5
J A D 15
7,650,095
5 g J A D ._ Jl 1938
5,720,000
M A S Mch 1 1951
4g
1919
320,000
M A N
5g
500.000
5 g J A .1 July 1 1939
H.OOO.UOO
4 g J A D June 1 1959

New York
New York City
Central Trust Co. N Y
Fidelity Trust Co, Phlla
Treasurer, Indianapolis
Windsor Trust Co, N Y
Belmont & Co, New York
165 Broadway
Guaranty Trust Co, N Y
Office 195 B’way, N Y
Sept 1907 coup last paid
In default— See text
Nov 1909 coup pd wh due
London
do
do
do
do
do
do
London
Mercantile Trust Co, N Y
do
do
Penn Co for Ins, &c.Phlla
Guaranty Trust Co, N Y
Grand Central Sta., N .Y .

GENERAL FINANCES.— On June 30 1908 there were $23,590,000
loans and Dills payable outstanding. On account of this Indebtedness,
shareholders of record May 18 1908 were permitted to subscribe for $14,­
256.000 new stock at par. In Nov. 1908 $20,000,000 refunding mtge.
bonds were sold. See above. Bills payable June 30 1909, $1,620,000.
EARNINGS.— 5 mos., 11909.......... Gross, $25,749,777; net, $4,982,708
July 1 to Nov. 30.
(1908.......... Gross, 24,031,643; net, 4,875,923
REPO RT.— Annual meeting Is held the third Wednesday In October.
Report for 1908-09 was In V. 89, p. 989, 1001; editorial, p. 962.
(Not incl. Yazoo & M . V . R R .)—■ 1908-09.
1907-08.
In c. or D ec.
Average miles operated__________
4,547
4,420
+ 127
Passenger earnings............................. $10,865,358 $10,991,798 — $126,439
Freight earnings.................................3G,003,897
35,357,811
+646,086
Mall, express, A c................................ 10,276,257 11,647,118 —1,370,861
Total earnings................................ $57,145,512 $57,996,727
— $851,215
Net over taxes...............
$16,452,905 $17,865,306 — $1,412,401
Income from investments, A c______
3,874,708
2,358,525 +1,516,183
Total net income_________________$20,327,613 $20,223,831
+$103,782
Hire of equipment, &c....................... 3,270,642
5,543,147 — 2,272,505
Interest on bonds.............................. 5,703,193
4,569,860 +1,133,333
3,209,395
+242,513
Rent of subsidiary roads.................. 3,451,908
Dividends on stock (7 % )................... 7,650,720
6,652,800
+ 9 97,920
Balance, surplus............................ _ $251,149 ~ $248,634
+$2,515
Old Basis—
1906-07.
1905-06.
1904-05.
Total gross earnings............................ $56,610,633 $51,636,405 $40,508,649
Net earnings over taxes...................... $16,545,108 $15,198,935 $14,396,943
YAZOO & MISSISSIPPI VALLEY.— Results on 1,370 miles; average.
l , 370, against 1,297 in 1907-08. See report at length in V. 89. p. 989, 1008.
Year —
Cross.
N et(ov erta x). Oth. Inc. Chgs.,& c.
B al., surp.
1908-09.........$10,035,257 $1,019,182 $1,750 $1,226,010 def.$205,078
1907-08......... 10,098,391
1,025,774
1,750
1,346,033 def. 318,509
OFFICERS.— Pres., James T. Harahan, V .-P ., I. G. Rawn; V .-P ., and
Sec., A . G. Hackstaff; Treas., E. T. H. Gibson: Gen. Mgr., Frank B.
Harrlman. General office, Chicago, 111.; N. Y . office, 115 Broadway.
Directors.— Walther Luttgen, John W . Auchtncloss, J. T. Harahan.
Cornelius Vanderbilt, J. Ogden Armour, John Jacob Astor, Chas. A. Pea­
body, R. W. Goelet, John G. Shedd, A. G. Hackstaff, R. S. Lovett, H. W .
de Forest, and, ex-officio, Hon.Chas.S.Deneen.Gov. of 111.— (V.8 9 ,p.l 141).
ILLINOIS SOUTHERN R Y.— Owns Salem to Bismarck (IncludingRiver
Transfer, 1 mile), 122,86 m.; Chester branch, Missouri Jet. toChester, 10.70
m . ; Rosborough branch, Sparta to Rosborough, 5 m.; total owned, 138,56
m.; leases 111. Cent, trackage. Branch Jet. to I. O. Jot., 2.75 m.; total, 141.31
m. Successor June 1 1900 of the Centralla A Chester R R ., foreclosed.
V . 70, p. 1048; V. 71, p. 29. Stock, com., $4,000,000; 6% cum. pref.
$1,000,000; par, $100, all Issued. Of the bonds, $400,000 was reserved
for lmprov. and equip, at not over $200,000 yearly. V. 79, p. 500. Of the
bonds, $3,900,000, with $3,400,000 com. and $1,000,000 pref. stock, was
Included In the collateral turned over to the Chicago banks In Jan. 1910
on settlement of the Walsh notes. V. 90, p. 167.
REPORT.— For year ending June 30 1909, gross, $362,517; net. $80,476.
In 1907-08, gross, $345,852; net, $73,211; lnt. and taxes, $243,417; bal..
def., $170,206. Pres., J. W . Walsh; Treas., F. D. Kellogg; Aug., M. E.
Keehan. Office. Grand Central Station, Chicago. 111.— (V. 90, p. 167.)
ILLINOIS TERMINAL RR.— Owns terminals at Alton. 111., and road,
Alton to Hartford. 111., 6 miles; Hartford to Edwardsvllle Jet., 7.1 m.;
leases from Wabash R R .. Edwardsvllle Jet. to Edwardsvllle. 1.6 m. Stock,
$500,000: par, $100. Year 1907-08, gross. $167,549; net, $70,787: lnt..
taxes, A c., $32,522; bal., $38,265. Pres., Geo. M. Levis.— (V. 79, p. 2205.)
ILLINOIS TUNNEL CO.— See Chicago Subway Co.— (V. 80, p. 1542.)
INDIANA ILLINOIS & IOWA RR — See Chlo. Ind. A Southern R R .
INDIANA HARBOR BELT RR — Owns Whiting. Ind., to Blue Island.
111., 14.4 miles, McCook to Franklin Park, 111., 11.2 m.; Chappell to Union
Stock Yds., Chicago, 10.8 m.; State line to Grasselll, Ind., 4.9 m.; total
owned, 41.3 m.; operates Jointly Chicago Term. Transfer R R ., Blue Island.
111., to McCook, 13.6 m.; mlsc. trackage, 39.6 m.; total, 04.6 m. Nov. 1
1907 acquired Chic. June. R y. V . 8 5 , p. 1270. 1200; V. 86, p. 108.
Stock outstanding, $2,450,000, all owned by Lake Shore & Mich. Sou.
and Mich. Cent., which guarantee the bonds. Of the bonds $25,000,000
authorized Issue), $2,500,000 are reserved to retire the Chlo. Ham. A
Western 6s and $725,000 were Issued to retire the Mich. Central and Term.
RR . Joint 4s. The $2,500,000 bonds Issued In payment of Chic. June.
Ry. bear Interest at 2% yearly from July 1 1907 for 5 years, then 3% for
5 yrs., then 4% to maturity; V. 86, p. 108.— (V. 85, p. 1270; V. 86, p. 108.)
INDIANAPOLIS UNION RY.— Owns 3 miles of track, .93 of a mile of
road, with terminals at Indianapolis, Ind., and leases for 999 years the Belt
RR. of Indianapolis— 12H m. (which see). Clev. Cincinnati Chicago <5o
St. Louis, the Pittsburgh Cincinnati Chicago A St. Louis and the Vandalla
R R . are virtual proprietors, they having Invested In It $920,331 to June 30
1907.
No stock outstanding.
„
.
The $160,000 4% notes of 1904 are guar. prln. and lnt. by Pitts. Cln. Chlo.
A St. L. and Cleve. Cine. Chic. & St. L. V. 80, p. 871.
EARNINGS.— 1006-07, gross, $1,013,894; net. $370,750; other Income.
$13,163; total deductions, $290,654; bal., sur.. $93,250.— (V. 83, p. 213.)
INTERBOROUOH-METROPOLITAN C O — ORGANIZATION.— Incor­
porated on Jan. 24 1906 as an amalgamation (per plan V. 82, p. 217,280) of
the Interborough Rapid Transit Co. and Metropolitan Street Ry. In Feb.
1907 $33,912,800 of tne $35,000 000 stock of the Interb. Rapid Transit Co.,
$42,740,000 of the $52,000,000 Metropolitan St. R y. stock and $29,373,100
of the $30,000,000 stock of the Metropolitan Securities Co.. Its holding
company, had been acquired. V. 82, p. 692. See Interborough Rapid
Transit Co. below and Metrop. St. Ry. In “ Electric Railway Section
Favorable decision, V. 85, p. 09, 654. In Sept. 1907 receivers were ap-




70

RAILWAY STOCKS AND BONDS.

pointed for Metrop. Street R y. and of Its lessee, the New York CKy Ry.*
whose stock Is all owned by the Metropolitan Securities Co.,the Metropolitan
Street R y. dlvs. being suspended. V. 85. p. 703, 864; V. 89, p. 593.
Mileage of Companies Comprising Interborough-Metropolitan System.
Interborough Rapid Transit Co., subway___________________ 82.20 miles
Elevated (Manhattan Railway, leased)_____________________ 118.05 miles
Surface lines owned or controlled by Interb. Rap. Tran. Co_.154.03 miles
New York City Railway and subsidiary companies__________ 519.46 miles
Total (single tra ck )_________ ____ _____ __________________ 873.74 miles
STOCK.—The pref. stock has voting power upon default of payment of
dividend thereon. V. 82, p. 217, 280.
DIVIDENDS.— Dlv. on pref., 1H % quar., paid July 2 1906 to July 1907
Inclusive; none since to Jan. 1909. V. 85. p. 600.
VOTING TRUST.— All the common stock Is deposited under a voting
trust agreement to Mch. 6 1911, subject to termination In the discre­
tion of the voting trustees, viz.: August Belmont, Walter G. Oakman,
Thomas F. Ryan, Cornelius Vanderbilt and Peter A. B. Wldener.
BONDS.— The collateral trust 4J^s of 1906 (Windsor Trust Co., N. Y .,
trustee) are secured by pledge of all the stock of the Interborough
Rapid Transit Co. or voting trust certificates therefor acquired at the rato
of 51,000 In bonds for 5500 Interborough Rapid Transit stock, V. 82, p. 280.
A 5500,000 5% mtge. due In 1911 covers property In 218th St. V. 83, p. 95
The collateral trust 3-year 5% notes of 1907 (515,000,000 authorized
Issue) can be Issued only pro rata as the collateral mentioned (V. 84, p.
1248) In the deed of trust Is deposited. Collateral may be withdrawn on
deposit of an amount of cash as fixed by the deed of trust or additional notes
of Metropolitan Street R y. There are 52,549,000 6% notes (extended) due
May 27 1910. V. 85, p. 1401; V. 86, p. 1285.
REPORT.— Report of holding company for year ending Dec. 31 1909
was In V. 90, p. 234 Total receipts, 53,342,581; interest, taxes, &c.,
53,372,216; balance, deficit, 529,635.
Combined Operations— Inlerborough Rap. Tran. Co. and N . Y. City Ry.
Year end. March 31—
1906-07.
1905-06.
Changes.
Gross earnings_______________ 543,353,841 540,693,671 Inc. 52,660,170
Operating expenses___ _______ 21,841,884
21,044,516 Inc.
797,368
Net earnings...........................521,511.957
Other Incom e............................. 1,187,464
Total Income............................. 522,699,421
♦Interest rentals and taxes____ $17,956,552
Int. (4)4% ) on Int.-Met. bonds 3,150,000
Metrop. St. R y. guar, dlvs____
666,368
Int.-Met. 5% pref. dividend__ 2,273,990

.19,649,155
1,215,781
520,864,936
$16,766,926
a2,800,000
3,639,888
________

Inc. 51.862,802
Dec.
28,317
Inc.
Inc.
Inc.
Dec.
Inc.

$1,834,485
$1,189,626
350,000
2,973,520
2,273,990

Deficit...................................... $1,347,489
$2,341,878 Dec. $994,389
•Excluding Metrop. special franchise tax In litigation, a Dividend.
OFFICERS.— Pres., T. P. Shonts; V .-P., J. B. iMcDonald. Office. 165
Broadway, N. Y .— (V. 88, p. 227, 505, 686, 883, 997, 1372; V. 90, p. 234.)
INTERBOROUQH RAPID TRANSIT CO.— (See M ap.)— Incorporated
May 6 1902 In N. Y ., and In 1904 began operating municipal tunnel R R . In
N. Y. City, extending, with two tracks, from Battery to City Hall, and as a
four-track line from the City Hall (with two-track loop at that point) under
new Elm St., Fourth and Park aves., to 42d St., thence under 42d St. and
Broadway to 103d St.; also as two-track lines, partly viaduct, (a) from 103d
St., on the West Side, to Klngsbrldge Station, (6) from 103d St. to the East
Side and Bronx Park. Extension (two-track) under the East River via
Fulton and Flatbush avenues to Atlantic A v., Brooklyn, 2H miles, there
connecting with the Long Island R R .. was opened May 1 1908. Total, about
72 M m. of track on 25 miles of road (of which 19 subway and 6 elevated);
leases Manhattan R y.. 118 m.; surface lines owned or controlled, 154 m.;
total. 344 miles. V. 77, p. 827; V. 80. p. 222, 1912; V. 84, p. 1306; V. 85,
p. 600, 654, 1005; V. 86, p. 108, 1100.
The extension to Van Cortlandt
Park, 1 mile, was opened Aug. 1, 1908.
V. 87, p. 285.
Offer to build extensions not approved, V. 89, p. 41, 664, 778, 1411.
Leases Manhattan (Elevated) Ry. for 999 years from Nov. 1 1875.
ALLIES.— Has agreement with N. Y . City Interbor. St. R y., controlled
by allied Interests. 8 m. operated. V . 80, p. 117, 1175, 1479; V. 82, p.
868, 1268; V. 86, p. 1100. In March 1906 $1,814,000 of the $2,000,000
Subway Realty stock was acquired. V. 82, p. 218, 513.
Owns stock of N. Y . & Queens County R y., 74 miles, and (Jointly with
Long Island RR.) the N. Y. & L. I. Traction Co., 56 miles. V. 80, p. 2621;
V. 83, p. 818; V. 86, p. 1100. Also owns New York & Long Island R R .,
whose tunnels from Manhattan to Long Island City were completed In
Aug. 1907, but not operated to Jan. 1909, owing to franchise dispute
(V. 81. p. 1402: V. 82, p. 751; V. 83. p. 1229; V. 84. p. 1248; V. 85, p.
345, 793, 864, 1339, 1518; V. 86, p. 669, 1344; V. 88, p. 101, 231, 624;
V. 89, p. 1069. Pelham Park Ry. and City Island R R ., see security hold­
ings, V. 83, p. 155.
CONTROL.— In Dec. 1907 $33,012,500 of the $35,000,000 stock had
been exchanged for 200% In 4 M % collateral trust bonds of the Interborough
Metropolitan Co. (which see above), secured by the stock exchanged.
CONTRACTS.— Contract with city called for the construction of the road
from City Hall north for $35,000,000 and Its lease to the company for 50
years from completion, renewable for another 25 years, the rental to be
equal to the Interest on the city’s bonds Issued for construction (but not for
easements, &c.) and a sinking fund of 1% yearly to retire the bonds. See
provision V. 82, p. 1157. In Dec. 1907 $5,934,798 was allowed for extra
construction. V. 85, p. 1461. The company also at Its own expense pro­
vided the electrical equipment (costing over $26,000,000; see V. 82, p.
452). For contract see V. 69, p. 1063. The extension from City Hall
Manhattan to Brooklyn was built without aid from the city except about
$4,000,000, and leased for 35 years with privilege of renewal for 25 years.
V. 86. p. 196; V. 75, p. 184, 1086, 1202. See V. 76, p. 101, 1234.
DIVIDENDS.— July 1904, 2% ; 1905, 8M % ; 1906, 8 ^ % ; 1907 to Jan.
1910, 9% yearly (Q-J).
BONDS AND NOTES.— $55,000,000 mortgage bonds, dated Nov. 1
1907, with Interest at a rate to be fixed from time to time, arc subject to
purchase at 105 and Interest by a yearly sinking fund of $300,000, beginning
Nov. 1 191 0, and also subject to call on any Interest day at the same price
In amounts not less than 51,000,000. The proceeds to be used to provide
for the 535,000,000 notes due 1910 and 1911, and future requirements. In
July 1909 the $10,000,000 bonds reserved to retire the notes due March 1910,
which were called for payment on Sept. 1 1909, were sold. V. 89, p. 41,
103. The bonds are secured by all the real estate and power houses, lease­
hold Interest In the subway. Manhattan Ry., stocks and bonds owned,
advances to other companies and other property; total cash cost, 554,095,­
419. The «ecurltles. amounting to over $4,000,000, known as "Manhattan
guaranty fund," which were released from pledge for performance of lease
of Manhattan R y., were applied towards retirement of $10,000,000 out­
standing gold notes of 1907; proceeds of N. Y. & Long Island R R . when
sold are to be applied to reduction of mtge. debt.
The $23,424,000 3-year 6% notes dated May 1 1908, are secured by
deposit of $28,108,800 of above bonds, Into which they are convertible at
the option of the holder to Nov. 1 1910 at the rate of 99 In collateral notes
for $100 In bonds. The deposited bonds may be withdrawn after Nov. 1
1910 on payment In cash of at least 83 1-3% of the face value. V. 86,
p. 1100, 1042, 981; V. 87, p. 1479, 1610.
REPORT.— For year ending June 30 1909 was in V. 89, p. 664, 1661.
1908-09.
1907-08.
1906-07.
Earnings from operations__________ $25,775,392 $24,059,299 $22,363,802
Operating expenses............................ . 10,747,443 10,722,694
9,593,331
Net earnings...................................... $15,027,949 $13,336,605 $12,770,471
Total net Income____________________ $16,412,593 $14,556,775 $13,586,304
Int. on bonds and rentals (Including
Manhattan guaranty)....................... 10,022,963
9,269,650 8,491,895
T ax es.........................
1,799,807
1,586,466
1,377,965
Dividends (9 % )...................................... 3,150,000
3,150,000 3,150,000
Surplus............................................... $1,439,823
$550,659
$566,444
DIRECTORS.— August Belmont (Chairman), Alfred Skltt, Morton F.
Plant, Andrew Freedman, James Jourdan, John Pierce, Geo. W. Young,
YVm. A. Read, Cornelius Vanderbilt, Edward J. Berwlnd, Edwin Hawley,
H. M. Fisher, Gerald L. Hoyt, Theo. P. Shonts, New York; and Gardiner
M. Lane, Boston.
Pres., T. P. Shonts; V .-P ., Frank Hedley, David W . Ross; Sec., II. M.
Fisher; Treas., John H. Campbell. Office, 165 Broadway, New York.
— (V. 89, p. 286, 527, 528, 593, 663, 778, 1411, 1596, 1661.)




[VOL. L X X X X .

INTERNATIONAL & GREAT NORTHERN RR.— (See Map Missouri Pa­
cific.)— Longview, on Tex. & Pac.(near Shreveport, La.), southwesterly to
Houston and Galveston, also to Laredo, Tex., on Mex. National R R ., and
Spring northerly to Ft. Worth: total July 1909, 1,159 miles, viz.:
Lines owned—
Miles.
Joint trackage—
Miles.
Longview, Tex., to Laredo____494 Galveston Houston & Henderson
Palestine to Houston, Tex______ 150
(Jointly with M. K. & T .)______ 50
VUneola, Columbia, &c_________ 121 Other lines_______________________ 26
Fort Worth to Spring__________ 261 Houston, Oak Lawn & Magnolia
Navasota to Madlsonvllle________ 47
Park R y ________
10
ORGANIZATION. Reorganized without foreclosure In 1892 under plan
In V. 54. p. 203, 366
Stock authorized Is $25,000,000; outstanding, $9,755,000; par, $100; controlled In Interest of Missouri Pacific.
RECEIVERSHIP.— On Feb. 26 1908 J. F. Freeman was appointed re­
ceiver. The March 1908 coupons on 2d and 3d mtge. bonds were defaulted,
a large amount of earlier coupons on 3d mtge. bonds also remaining unpaid,
as well as a large amount of unsecured floating debt, and the Texas RR.Commlsslon ordered Improvements costing several million dollars, for wnlcb
funds could not be secured. In Feb. 1908 foreclosure suit was begun
under third mortgage and In April 1908 under second mortgage. V. 85
p. 547, 1042. Receiver’s certificates, $338,730 6s (since retired), were
authorized to pay the Interest due May 1 1908 on 1st mtge. bonds. V. 87,
p. 812. Receiver’s certificates outstanding Jan. 1 1909, $140,000. Judg­
ments, $4,929,098, entered May 14 1908. V. 86, p. 1285.
Bondholders' Protective Committee.— A committee consisting of Mark T.
Cox, Edgar L. Marston, H. K. Pomroy and W. Emlen Roosevelt of New
York and John W. Hamer of Philadelphia (Farmers’ Loan & Trust Co.,
depositary) early In 1908 requested deposits of 2d mtge. bonds.
In July 1908 most of the $10,391,000 second mortgage bonds had been
deposited. V. 86, p. 1042, 1343.
B O N D S —The 2d mtge. Int., sealed to 5% , upon default reverted to 6% as
formerly. V. 73, p. 445. In June 1907 obtained authority to expend $100,­
000 to $150,000 for passenger depot at San Antonio. V. 84, p. 1551. On
June 30 1908 car trust notes and bonds $481,040.
EARNINGS.— 5 mos., 11909............Gross, $3,762,963; net, $888,358
July 1 to Nov. 30.
/ 1908________Gross, 3,558,326; net, 981,914
For fiscal year 1908-09, as reported to I. C. Commission, gross, $8,097,939;
net, $1,499,793, against $460,391 In 1907-08.
Years—
Gross.
Net.
Other Inc. Chges., &c.
Balance.
1907-08 ____$6,922,268 $363,560 $24,352 *$2,848,377 def.$2,460,464
1906-07 ___ 8,826,957 1.950.008
4,530
1,780,811
173.727
* Includes Joint facilities, $67,513, and hire of equipment, balance, $240,­
130, and $272,402 for add’ns and betterments.— (V. 89, p. 1223.)
INTEROCEANIC RY. OF MEXICO, L T D — See page 172.
IOWA CENTRAL RY.— (See M ap.)— Operates Peoria, 111., west to Oskaloosa, la., thence northerly to Albert Lea, Minn., forming a through line
via Minn. & St. L. R R ., from Peoria, 111., to St. Paul, Minn., 558 miles, viz.:
Owns—
Miles. I Leases— (stock owned.)
Miles.
Iowa Jet., III., to Manly Jet.
I la. C. & YV., Belmond to Algona. 37
I o w a ________________________363 [Track, Iowa Jet. to Peoria______ 3
Branches to Belmond, &c_______ 127 Manly Jet., La., to Albert Lea,
I Minn, (owned Jointly)________ 28
HISTORY.— Reorganization (by plan In V. 44, p. 653) of the Central
Iowa, sold In foreclosure In 1887-88. In June 1900 Minneapolis & St. Louis
Interests obtained control through purchase of the common stock; the two
properties are operated In close connection. V. 70, p. 1240.
ST’ OCK.— Com., auth., $11,000,000; Issued, $8,524,683. Pref., author.,
$7,400,000; Issued, $5,674,771. The pref. Is entitled to 5% (non-cum.),
then com. to 5, then both share pro rata. V. 62, p. 548. Par $100.
DIVIDENDS.— On pref. In 1892, 1%; 1899, 3; 1900, 1 H, none since.
BONDS.—The refunding 4s of 1901 are secured by a mortgage on the en­
tire property now owned or hereafter acquired, subject to the $7,650,000
first 5s, for which an equal amount Is reserved. The balance Is Issuable
for future extensions at not exceeding $25,000 per mile. Improvements and
equipment. V. 73, p. 899. In July 1909 $5,720,000 were sold and listed:
$395,000 additional In treasury. V. 86. p. 229, 1589; V. 87, p. 1420;
V. 88, p. 564; V. 89, p. 163. In 1909 sold $320,000 5% equipment trusts;
other equipment trusts Jan. 1909, $22,421, payable $1,246 monthly.
V. 88, p. 1437; V. 89, p. 1341.
EARNINGS.— 5 mos.,1 1909.............. Gross, $1,476,450; net, $373,382
July 1 to Nov. 30.
/ 1908________Gross, 1,272,459; net, 267,300
ANNUAL REPORT.— Report for 1908-09 was in V. 89, p. 1341. Com­
parisons are Inaccurate, owing to changes In accounting in two later years.
Soft-coal tonnage In year 1908-09 was 1,105,523 (47% of total tonnage.)
Year ending June 30—
1009.
1908.
1907.
1906.
Gross earnings...............$3,015,647
$3,002,475 $3,132,048 $2,058,587
Net earns, (overtaxes).
454.871
80> ,121
981,840
774,849Tot. net rec’tsdncl.rents)
568,522
970,917
1,201,467
092,536
Interest, rentals. & o . . . ____ 706,042
746,073
755,872
755,094
Balance, surplus— def. $227,521 sur.$223,044 sur.$445,595 sur.$237,442
— (V. 87, p. 1233. 1420; V. 88, p. 452, 564, 1437; V. 89, p. 163, 1341.)
GUAYAQUIL & QUITO RY.— (3 P5-ft. gauge.)— Owns from Guayaquil
to Quito, Ecuador, about 286 miles, with two branches, completed June
1908. V. 81, p. 556; V. 83. p. 1170.
Stock authorized, pref., 7% cum., $5,250,000; common, $7,033,000; par,
$100. Of the common $3,445,700 Is Class A, $3,586,300 Class B and $1,000
special voting stock held by the council of foreign bondholders, who may
appoint three directors. Class C may be redeemed at par at any time after
all bonds now or hereafter guaranteed by Ecuador shall have been paid In
full. V. 89, p. 1483. The 5s (formerly 6s) of 1899 are guar., prln. and int.,
by the Gov’t of Ecuador, secured by a Hen, subject to that of the prior lien
bonds, on all the customs duties, the Govt, receiving 49% of com. stock.
Late in 1908 an agreement was made for the surrender of the four coupons
of the general series bonds from July 1907 to Jan. 1909 In exchange for
$90 of Gov’t "Salt’’ bonds bearing 4% Int and 4% sinking fund, to be used
to draw the bonds for payment at par; also for the issue of $2,486,000 of
6% prior lien bonds having a preferential mortgage on the road anil customs
revenues redeemable by a sinking fund of 2 J4% at par or as a whole at 105,
the Interest on the general series bonds being reduced from 6 to 5% . After
the payment of the prior Hen bonds the Government Is to continue to pay
5% and 1% sinking fund. The holders of the general series bonds received
$100 per $1,000 bond In non-interest-bearing certificates. V. 87, p. 1478;
V. 88, p. 564.
,
„
,, , „
Pres.. Archer Harman; V .-P ., T. H. Powers Farr. New York: Sec. and
Treas., John J. Glnnane. N. Y. office, 33 Wall St.— (V . 89, p. 847, 1483.)
JACKSONVILLE TERMINAL RY.— Owns union freight and passenger
depots and terminal properties at Jacksonville, Fla.. Including 23 miles of
track used by Atl. Coast Line R R ., Seaboard Air Line, Florida Last Coast
R y., Southern R y. and Georgia Sou. & Florida R y., the live companies
first named guaranteeing by endorsement the prln. & Int. or above bonds
and owning entire stock. The five cos. each guar, one-firth or the int. under
rentals and meet expenses on wheelage basis.— (V. 71, p. 135.)
JAMESTOWN FRANKLIN & CLEARFIELD RR.— Owns from James­
town, Pa., via Franklin, to Oil City, 51 miles; branches, 20 miles; Polk Jet.
to Rose Siding, near Brookvllle, 61 miles, opened Sept. 15 1909; trackage.
Rose Siding to Clearfield, 53 m.: total, 185 m.
,
,
Controlled by Lake Shore & Michigan Southern. A consolidation In 1909.
V. 88, p. 506, 1002. Leased to the Lake Shore & Mich. Sou. from April 1
1909 for the term of the corporate existence and renewals, rental covering
Interest on bonds and 5% yearly on $2,994,550 stock (all owned by Lake
Shore), payable quarterly (Q.-J.). Of the 4s of 1909, $11,000,000 to be
guaranteed by the Lake Shore were Issuable at once to retire outstanding
debts and bonds and remaining $14,000,000 reserved for extensions and
improvements. V. 90, p. 167.— (V. 89, p. 528, 593, 1223; V .90, p. 167.)
JEFFERSON RR.— Owns Lanesboro, Pa., to Carbondale, P a.,37 miles
double track;branch, W estH awley,Pa.,toHonesdale,Pa., 8 miles. Leased
In perpetuity to the Erie RR. Co. for $140,000 per annum for main lino
and $14,940 for branch. Used by Delaware & Hudson to reach Carbondale.
Stock, $2,095,450; all owned by Eric R R .— (V. 87, p. 1470.)
JONESBORO LAKE CITY & EASTERN RR.— Owns Jonesboro to Bar­
field, Ark., 67 miles; Osceola Jet. to Osceola, Ark., 20 miles. Stock,
$600,000. Bonds ($1,000,000 authorized Issue), Bank of Commerce &
Trust Co., Memphis, Tenn., trustee, For year ending June 30 1909 gross,
$151,976; net, $30,931; charges, $30,942; dividends, $5,850; bal., def.,
$5,862. Pres., E. F. Brown. Office. Jonesboro, Ark.— (V. 81, p. 1665.)
JUNCTION RR. (Philadelphia).— See Pennsylvania R R .— V. 86. p. 421.
KANAWHA & MICHIGAN RY.— (See Map Toledo &. Ohio Central.)—
Owns Corning, O., to Gauley on the Ches. & Ohio, 177 miles, less 18 miles.
Pomeroy to Galllpolls, and 1 mile, Athens to Armltage, where Hocking
Val. Ry. tracks are used. Also owns branch of 11 miles leased to Toledo
& Ohio Central and Col. Sandusky & Hocking R y. companies.










74

RAILROAD COMPANIES
[For abbreviations, <fee., see notes on first page]

Miles Date
Road Bonds

8
Jefferson— 1st & 2d Ms ext In '87 & ’89 (H ’dale B r )..c
1st M Carb to S dep g ext 1908 red 105 gu p&l.FP.c*
37
87
Jonesboro Lake City & Eastern— 1st M 51,000,000 au
Junction (Philadelphia)— See Pennsylvania RR
15
Kanawha & Coal River— Joint M 5750,000 gold s f —
164
Kanawha & Mich— 1st M 515,000 p m g gu p & I.Ce.c*
Second mtge 52,500,000 auth gold red p a r .- S x c *
Equipment trusts...................... ..................................
Equipment bonds due 523,000 semi-annually______
ao
do
due part semi-annually_________
do
do
______________________________
35
Kanawha & West Va— First M 55,000,000 g text— c
Car trusts due 532,000 Dec yearly.........................Ba
16
Kan Cy Belt— 1st (5534,000 guar K C F S 4 M ).N B.c
162
Kansas City Clinton & Spring— 1st M g guar— NB.c
Kansas City Fort Scott & Memphis Ry—
Ref M 560,000,000 gold guar p & 1 end-.M e.xc Ar 0914
160
K C F t S & G is t M ld g r s fd r ’ n 110 (ext In 1908) .c*
50
Memphis Kan & Col first mortgage------------------- o
26
Kansas A Missouri R R first mortgage...................c
715
Kansas City Ft Scott & Memphis R R cons M.NB.c*
82
Current River R R 1st M 520,000 p m guar.........NB
3
Kans Cy A M R y A Bdge 1st M g s f drawn at llO .c
___
Ozark Equip Co 1st M guar 51,000,000 call at p a r..
285
Kans Cy Mem A Blrm gen M 54,500,000 cur.-O B .c
285
Income non-cumulatlve__________________ OB.c
285
do
stamped fixed Interest redeemable te x t..
21
Blrm Belt 1st i f gold red 102 4 guar p & I end..O B
Equipment notes Series A due 565,000 seml-ann-----_
do
Ser B 585,000 due s-a (V 81, p 1044)...B a
Kansas City Alexico & Orient— 1st M gold (see text).
7
Kansas City Outer Belt & E lectric-.lst M 53,000,000g
Kansas City Southern— Pref stk 4 % n-c 521,000,000. ■ ___
First mortgage gold 530,000,000-------------- Me.c &r
Ref and lmp’t M 521,000,000 gold red 105 xc * Ar N
Equipment notes gold red par due 572.000 s-a------N
do
do
gold ser B red par $30,000 s-a___
...
b Includes 5245,000 held alive In sinking funds.
aAlso covers majority of stock of Kansas City Mem phis A

Amount
Outstanding

Par
Value

1867
1889
1005

$1,000
1,000
1,000

1904
1890
1907
1902
1906
1906
1909
1905
1906
1886
1885

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

Rate
%

When
Payable

LXXXX

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

$300,000 4 4 A 6 J A ,TJuly ’27-Jan '29 Fidelity Trust Co, Phlla
2,800,000
5 g A & () Apr 1 1919
Erie R R , New York
500,000
5 g M A S Sept 1 1925
Memphis, Tenn
750,000
2,469,000
2.500,000
550,000
322,000
159,900
160,000
1,000,000
96,000
2,500,000
3,192,000

5g
4g
5g
5
5
5
5
5g
5
6
5g

M A
A A
.1 A
M A
F &A
,T A
M A
J A
J A
J A
A &

s Sept 1 1924
<) Apr 1 1990
J July 1 1027
N May 1 1912
15 Feb 15 ’ 10-’ 16
J July’09-July ’ 13
N May 1 1917
J July 1 1955
D June ’ 10-Dec’l l
J July 1 1916
O Oct 1 1925

Bankers Trust Co, N Y
Central Trust Co, N Y
J P Morgan A Co., N Y
Hock Val R y, Colum, O
Sup Sav & Tr Co, Cleve
J H Hoyt, Cleveland
Northern Nat Bk, Toledo
Scranton (Pa) Trust Co
R Kleybolte & Co, N Y
Office 50 State St, Bost
Old Colony Trust, Boston

1901 1,000 Ac 21,812.000
A A O Oct 1 1936
4g
Mercantile Trust Co, N Y
1879
100 Ac 2,055,300
5 (7) ,T A D June 1 1011
Old Colony Trust, Boston
1884
M A S Sept 1 1910
1,000
7
do
do
492,000
1882
5
F A A Aug 1 1922
do
do
1,000
390,000
1888
6
1,000 13,736,000
M A N May 1 1928
Merc Trust, N Y ; As Bost
1887
1,000
5
Old Colony Trust, Boston
1,606,000
A A O Oct 1 1927
1889
1,000 b3,000,000
A A O Oct 11929
Merc Tr Co, N Y ; As Bost
6g
1900
5
1,000
129,000
M A N May-Nov 1 1910 Old Colony Tr Co, Boston
1894
4
do
do
3,323,390
M A S Mch 1 1934
500 Ac
1894
332,780
5
3 pt. Mch 1 1934
do
do
500 Ac
1894
5,953,000
5
M A s Mch 1 1934
do
do
500 Ac
1902
' do
do
1,000
1,000,000
A A () Oct 1 1922
4g
1905
630,000
Blair As Co. New York
4M g J A J To Jan 1 1915
1905
do
do
1,000
935.000
4 4 g F A A Aug ’ 10-Aug ’15
1901
Amer Exch Nat Bk, N Y
1,000 See text
V A A Feb 1 1951
4g
1903
A A O Apr 11953
U S M As T, 20 Broad.NY
1,000
2,000,000
4g
100 21,000,000 4 In 1909 Q— J Jan 1 5 19101 % Checks mailed
1900 1,000 &c 30,000,000
A A O Apr 1 1950
New York Trust Co. N Y
3g
d*
do
1909 1,000 Ac 10,000,000
5 g J A J April 1 1950
1905
1,000
864,000
4 4 g M A N May ’ 10-Nov ’16 Blair As Co, New York
do
do
1906
390,000
4 4 g J A D Jurie’ 10 June ’ 15
Blrml ngham, ?, 85 miles, an d provld es for retl rement of Its bo

In 1907 consolidation with Hock. Val. Ry. proposed per plan V. 83, p.
271, 323, minority stock being offered 60% In new stock. V. 84. p. 51; V.
85, p. 864; V. 86, p. 1224
The merger Is temporarily blocked, tne lower
Ohio State Court after rehearing In June 1909 holding control by Hocking
Valley to be Illegal. V. 89, p. 1280, 1223.
HISTORY, Asc.— Reorg. In April 1890 of K. As O. Ry. foreclosed (See
V. 50, p. 451,483.) In 1890 a majority of stock was acquired by Tol. As Ohio
Cent., which has guaranteed the bonds, prln. and lnt. (See V. 52, p. 165.
351.) Capital stock, 510,000.000 (51.000.000 In treasury July 1909.)
DIVIDENDS.— In Dec. 1909 It was decided to set aside 40% of the net
surplus after charges as a free fund for the payment of dividends. The first
dividend (probably annual) Is expected to be paid In the spring of 1910.
V. 90, p. 54.
LATEST EARNINGS.— 11909_______Gross, 51.185,156; net, 5377,779
5 mos., July 1 to Nov. 30 /1908_______Gross, 1,044,017; net, 259,460
Surplus over charges, 5 months, 5295,049, against 5180,131 sur. In 1908.
REPO RT.— Report for year 1908-9 was In V. 89, p. 718, showing,
gross, 52,127,637; net, 5315,622; oth. Inc., 5100,011; Interest, taxes. A c.,
$281,316; betterments, 5118,468; bal., surplus, 516,048.— (V. 90, p. 54.)
KANAWHA Jt WEST VIRGINIA RR.— To extend from Charleston, W .
Va., to Belva on the Gauley River, 55 miles, of which 39 miles completed,
balance under construction. Controlled by same Interests as Blue Creek
Coal A; Land Co., owning 44,000 acres of coal and timber land In Kanawha
County. Stock authorized, 55,000,000; par of shares, 5100. Of the 55,­
000,000 authorized 1st 5s, (Scranton Trust Co., trustee), 51,000,000 have
been Issued, the remainder being limited to 525,000 per mile. The first
51,000,000 of the Issue are guaranteed, prln. and lnt., by the Blue Creek
Coal A; Land Co. and are subject to call at 105 and Interest. V. 83, p. 1524;
V. 84, p. 339. Pres., Edward S. Jones; V .-P ., W. A. MacCorkle; Treas.,
Thos. E. Jones: Sec., Wm. D. Boyer.— (V. 84, p. 339.)
KANSAS CITY BELT R Y — See page 172.
KANSAS CITY CLINTON & SPRINGFIELD RY.— Own? from Olathe,
Kan., to Ash Grove, Mo., 154 miles; Raymore Jet. to Pleasant Hill, Mo.
8 ra.; total, 162 miles. Stock, 51,775,400. Bonds were guar, by the Kan,
City Ft. Scott A: Mem. R R . (oldco.) Foryear ending 1907-08, gross, $333,­
105; net, 576,934; charges, 5190,887: bal., def., 5113,953.— (V.73, p.723.)
KANSAS CITY FORT SCOTT & MEMPHIS RY.— {See Maps Rock Island
Co.)— Operates Kansas City, Mo., to Memphis, Tenn.,and branches, 914 m.,
Also has a controlling Interest tn stock of the K. C. Mem. A; Blrm. R R .,
owning line from Memphis, Tenn., to Birmingham, Ala., with branch, 285
miles, and of Kansas City A; Memphis R y. Ai Bridge Co., owning bridge
across Mississippi River at Memphis, 3 miles. Total, 1,201 miles.
ORGANIZATION.— Incorporated on June 14 1901 and Is vested with
the property of the former Kansas City Ft. Scott A Memphis Railroad; also
controls other mileage. V. 72, p. 1237. See V. 72, p. 438, 532, 675, 088.
The St. L. A; San Fran. R R . owns the entire stock and leases the road, guar­
anteeing the bonds of 1901, prln. and lnt., and 4% on pref. stock trust certs.
STOCK.— Common authorized, 545.000,000: outstanding, 515,000,000,
all owned by St. Louis As San Francisco R R . The pref.stock ($15,000,000
authorized, of which $13,510,000 Is outstanding, par $100) Is deposited In
escrow, and against It are Issued trust certificates of the St. L. A: San F. R R .,
the latter having the option to retire the certificates at any time at par,
and obligating Itself to pay off the whole Issue In 20 years from date (Oct.
1901), and meanwhile to pay quar. 1% thereon. See V. 72, p. 1238.
BONDS.— The refunding bonds of 1901 (limited to $60,000,000) are
secured by all property now owned, or hereafter acquired with the pro­
ceeds of the refunding Issue. Of the bonds, $11,650,000 were subscribed for
In June 1901, about $31,025,770 were reserved for exchange against the
face amount of underlying bonds, $3,000,000 for refunding purposes, $5,­
000,000 for Improvements,betterments and new equipment at the cumu­
lative rate of $600,000 per annum, and the residue, as well as any bonds
not used or required for refunding purposes, will be reserved for Issue for
additional lines and extensions, at not exceeding 522,500 per mile thereof.
As to guaranty. see "organization” above. V. 75, p. 853. See V. 87, p. 414.
In 1902 the K. C. Ft. Scott A; Mem. Ry. guaranteed the Interest on all
except 5384,280 of the $6,322,780 K. C. Mem. Ac Blrm. Income bonds, be­
ginning March 1, the bonds so guaranteed being stamped with a provision
making them subject to call at any time within 10 years from Sept. 1 1902
at 95 and Interest. V. 74, p. 477, 577.
Birmingham Belt bonds are guaranteed, principal and Interest, Jointly by
Kansas City Memphis A Blrm. and St. L. A San Fran. V. 75, p. 1147.—
(V. 86. p. 1042, 1159, 1529: V. 87, p. 414; V. 88, p. 1061: V. 89. p. 163.)
KANSAS CITY MEXICO & ORIENT RY.— (.See M ap.)— Projected to
extend from Kansas City, Mo., to Topolobampo Bay, Mexico, on the Pacific
coast, 1,659 miles; also a cut-olf from San Angelo to Spofford Jet., Tex.,
connecting there as well as at Chihuahua with Mexican lines for Mexico City.
In Sept. 1909completed from Wichita, Kan., south to the Red River (State
line between Oklahoma and Texas), 272 miles: and the K; C. M. A- O. Ry.
Co. of Texas completed from the Red River to San Angelo, Tex., 238 m.,
making a continuous line from Wichita, Kan., to San Angelo, Tex., 510
miles. From Chihuahua, Mex., eastward to a point 2 miles beyond the
Conchos River, 90 m.; Mlnaca. Mex.. west to Sanchez, Mex.. 75 m.;
Topolobampo eastward to Hornlllos, 73 m., and from San Angelo, Tex.,
northward, 11m ., which, with trackage over the Chihuahua As Pacific R R .,
Chihuahua to Mlnaca, Mex., 121‘ m., makes total in operation 869 miles.
Contracts have been let for the grading south of San Angelo and work
will be pushed as fast as possible.
Reports of experts, prospectus, Ac., V. 90, p. 105, 110; V. 86, p. 668;
V. 83, p. 95, 1411; V. 75, p. 1253. Liberal subsidies have been granted In
Mexico, Federal and State.
Hamburg-Am. SS. Co. will establish trans­
pacific connections.
The Kansas City Outer Belt & Electrlo RR (see that company below)
will, when completed, afford terminal facilities and an entrance Into Kan­
sas City. V. 76. p. 331; V. 80. p. 871.
SECURITIES.— Stock authorized, $20,000 per mile each In common and
non-cumulatlve 4% pref. stock; outstanding July 1909, pref., $12,500,000,




[VOL.

RAILWAY STOCKS AND BONDS.

com., $10,539,275. In June 1909 Increase to $37,500,000 each of com. and
pref. stock was authorized. V. 88, p. 1500. Stock Is held In a voting trust
until Jan. 1 1917, the voting trustees being A. E. Stllwell, W. W . Sylvester,
W. A. Rule and W. S. Woods, Kansas City; Robert H. Law, Chicago: Doug­
las J. Neame, Harold D. Arbuthnot, Lewis Rendell, Baron Boxall and H. J.
Chinnery, of London, England. V. 83, p. 1411.
Bonds (U. S. & Mexican Trust Co., trustee) are Issuable at $22,500 per
mile, single main track, $15,000 per mile, yard and terminal track, and
$12,000 per mile of double track, constructed or acquired; also, 52,500.000
for extra work In Sierra Madro Mountains, $5,000,000 for terminal fa­
cilities at Kansas City or Topolobampo, or both, and $10,000,000 for future
requirements and additional rolling stock at not over $1,000,000 yearly,
beginning Feb. 1 1906. On completion of road there will be left In the
treasury for each mile of completed road $7,500 bonds, 54,000 pref.and
$7,500 com. stock. V. 78, p. 102; V. 81. p. 1411; V. 87, p. 37, 508. Of the
516,484,000 bonds Issued July 1909, $3,500,000 were sold, $4,338,000 In
the company’s treasury and the remainder was owned by the Union and In­
ternational Construction companies, which are building the road. V. 88,
p. 1500, 1560. Under agreement In force until Feb. 1912, the company
pays Interest only on the bonds sold, the Interest on the bonds held by the
construction companies being debited to cost of construction. In April 1908
$700,000 2-yr. 6 4 % notes (denominations $500 each) were offered, secured
by deposit of 200% In 1st mtge. bonds, and In Oct. 1908 £200,000 6% 5-yr.
notes, due Aug. 15 1913, but subject to call after 3 years, secured per £100
note by $1,000 In first mortgage bonds, the notes being convertible into
the deposited bonds taken at 80. V. 86, p. 981; V. 87, p. 1011, 1420.
In May 1902 made an agreement with St. Louis Union Trust Co., as
trustee, to secure $2,000,000 car-trust bonds, and In Feb. 1905 with the
American Locomotive Co. to secure $1,000,000 locomotive bonds.
V. 81, p. 777. Mexico & Orient Townslte Co., see V. 78, p. 1109,
1113; V. 85. p. 345, 722.
ESTIMATED EARNINGS.— See special report In 1909, V.90, p. 105,110.
OFFICERS.— Pres., A. E. Stllwell; V.-Ps., Enrique C. Creel, J. T.
Odell, John F. Wallace, J. S. Bralthwalte; V.-P. and Gen. Mgr., Edward
Dickinson; Sec., Neal S. Doran; Treas., E. E. Holmes. Office, 10th St. and
Baltimore Ave., Kansas City. Directors, V . 88, p. 1313, 1500. N. Y. office.
Singer Bldg.— (V. 89, p. 348, 778, 1668; V. 90, p. 105, 110,236.)
KANSAS CITY OUTER BELT (STEAM) & ELECTRIC RR.—This com­
pany Is constructing a belt line road at Kansas City, the main line, double
track, being 7 miles In length, extending from No. Kansas City to the Kaw
Valley on the west, with bridge across the Missouri River. Grading and
bridging practically completed Sept. 1009. Will afford an entrance Into
Kansas City for the Kan. City Mex. & Orient R y., and connect with the
various steam roads entering that city. Incorp. In 1002 by Interests
friendly to K. C. Mex. & O. Ry. V. 75, p. 184; V. 76. p. 331; V. 80, p. 871.
SECURITIES.— Stock authorized, $2,500,000 com. and $2,250,000 4 %
pref. The stock will be held In a voting trust of ten members until the full
dividend shall have been paid on the pref. for 5 consecutive years. See
V. 76, p. 331. Of the $3,000,000 authorized 1st gold 4s (see table above)
$2,000,000 have been sold; the entire cost of construction and equipment
was estimated at not over $2,000,000 In bonds, leaving balance for exten­
sions and Improvements.— (V. 75, p. 184; V. 76, p. 331; V. 80, p. 871, 2399.)
KANSAS CITY SOUTHERN RY.— (See M ap.)— Operates a line extend,
Ing from Kansas City, Mo., to Port Arthur. Tex., thence by Its ship canal7 miles, to deep water on the Gulf of Mexico, with branches and extensive
terminals used by various roads entering Kansas City.
Lines Owned—
Miles. I Lines Owned.
Miles.
Kansas City, Mo., to Belt June. 12 Branches to Fort Smith, De
Quincy, La., etc.......................51
Grand View, Mo., to Port Arthur,
Tex...............................................765 Trackage—To Grand View, M o-- 11
T o ta l.......................................................................................- .............. 83S
Also owns entire $650,000 each of stock and bonds of Arkansas Western
R y.. Waldron to Heavener, Ark., 32 miles, operated separately: also con­
trols K. C. Shreve. & Gulf Terminal Co. V. 83, p. 38, 492.
ORGANIZATION.— A reorganization of Kan C.Pitts. A Gulf RR.. fore­
closed In 1900 per plan V. 69. p. 1012, 1002. V. 73, p. 1356: V. 74. p.94.
The voting trust having expired April 1 1905, a new management was
elected in May 1905. V. 80, p. 1971; V. 81, p. 559: V. 84, p. 1366. In
1909 contracts were made for Interchange of freight with the Harrlman lines.
V. 88, p. 375. Common stock, $30,000,000; par, $100.
SECURITIES.— The stockholders on June 28 1909 authorized an Issue
of $21,000,000 "refunding and Improvement” bonds dated July 1 1909,
bearing not over 5% Interest, of which $10,000,000 underwritten by a syn­
dicate, have been sold to provide for the $5,100,000 5% notes called for
payment on July 1 1909 and various Improvements, and the remainder Is
reserved for future requirements. V. 88, p. 1128, 1253, 1437; V. 89, p. 104;
V. 90, p. 167.
DIVIDENDS.— First div. on pref. stock, 4% . paid July 1 1907 out of
earnings for 1906-07; Oct., 1%; ’08 & ’09, 4% (Q.-J.): ’ 10, Jan., 1%.
LATEST EARNINGS.— 11909___ Gross, $4,668,740; net, $1,633,843
6 mos., July 1 to Dec. 31J1908___ Gross, 4,482,636; net, 1,762,316
REPORT for 1908-09 at length was in V. 89, p. 1065, 1089.
1908-09.
1907-08.
Inc. or Dec.
+ 514,047
Total gross receipts__________________$8,771,965 $8,757,918
— 410,203
Operating expenses_________________ 5,350,056
5,760,259
+ 424,250
Net earnings . ____________________ 3,421,909
2,997,659
3,519,722
3,132,268
+ 387,454
Total net Income...............
+ 39,141
Taxes .....................................................
322,279
283,138
Interest on bonds, Ac_______________ 1,221,600 1,225,053
— 3,453
— 88,382
Miscellaneous.............
99,187
10,805
Dividend on preferred stock (4 % )-----840,000
840,000
...................$1,036,655
Balance, surplus
1906-07.
1905-06.
Old Basis—
Gross earnings______ ._ $9,084,332 57,568,332
2,036,057
Net earnings------------ . . 3,744,813

$773,272
1904-05.
$6,893,656
1,805,300

+5263,383
1903-04.'|
$6,678,215
1,968,012




76

[V O L . L X X X X .

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., s e notes on first page]

Miles Date
Road Bonds

Par
Value

Kansas City St Joseph & Council Bluffs— See Chicago
Kansas City Shrcvep & Qulf Terminal— 1st M reel 105
Kansas City Terminal Ry— 1st M $50,000,000 au th -.
Kansas City Viaduct & Term— 1st M g s f(text) S.c*Ar
Kansas & Colorado Pacific— See Missouri Pacilic Ry
Ken & I Br & RR— Ken & I B 1st M gold assum ed...
First consolidated mortgage $2,500,000 g old-.S .c
Kentucky & Tennessee— 1st M $850,000 gold (see text
Keokuk & Des Aloines— Preferred s t o c k ....................
First mortgage Interest guaranteed C R I & P ----- c*
Keokuk & Hamilton Bridge— First mortgage........ . . c
Kewaunee Green Bay & Western— First mortgage.F.c
Kingston & Pembroke— First mortgage gold.............Klondike Mines— First mortgage $30,000 per mile----Knoxville & Ohio— See Southern Ry
Lake Brie & Detroit River— See Pere Marquette R R .
Lake Erie & Western— Common stock $20,000 p m ..
Preferred stock 6 % (not cum) ($20,000 per m ile )--First mortgage ($10,000 per mile) gold.........--Ce.c*
Second mtge for $3,625,000 ($5,000 p m) gold..C e.c
Lake Shore & Michigan Southern—S to c k --- - - - - - - - Guaranteed 10 % stock (Michigan South A Nor Ind)

Burll ngton
i897

A Quine
$500

do
do
$50,000,000 g old ...........
Notes $15,000,000 gold to be paid Feb 1 1910Kalamazoo A White Pigeon first mtge assum.
Guaranteed Securities—
Battle Cr A Stur 1st M gold guar p A 1 (see M Cent)
Sturgis Goshen & St Louis 1st M gold p A 1guar-----Jamestown Franklin A Clearfield stk rental guar..
1st M $25,000,000 auth to be guar----- G.xc’ Ar*
Lake Shore System— Mahoning Coal RR Stock----Preferred stock (see text)------------ . . . — --------- - - -

_

1005

1,666

1881
1900
1905

250 Ac
1,000

162
162 1878
1869
37 1891
113 1882
31 H 1005

711
711 1887
711 1891
1,000 1897
1903
1906
1007
37 1890

Amount
Outstanding
y.

$150,000
3,312,000

Rate
%

100
100
1,000
1,000
100
100
1,000 Ac
1,000 Ac
1,000 Ac
1,000 Ac
1,000

F

&

A Aug 1 1027

Kansas City, Mo

4V5

J

A

J Sept 1 1034

Fisk A Robinson

M A S March 1911
A A O Apr 1 1050
M A S Sept 1910 1923
See text May 1 190 9 1
A A o Oct 1 1023
A A o Apr 1 1890
J A D June 1 1921
J A J Jan 1 1912
J 30 A D Dec 31 1024

11 840 000
11,840,000 See text J A
7,250,000
5 g .1 A
J A
3,625,000
5g
z49,466,500 12 In ’09 .1 A
533,500 12 In ’09 F A
50,000,000
3H g .1 A
M A
50,000,000
4g
M A
See t xt.
4g
F A
15,000,000
5g
A
5
400,000
J

79,000
1,000
3g
322,000
3g
1,000
5.95
610,000
100
840,000
5
1,000
10
50
300,000
5
100 2,994,550
4g
1909 1,000 Ac 11,000,000
1,500,000 See text.
50
47
5
661 ,367
50
47
5
1,500,000
1,000
47 1884
130,000
1,000
6g
20 1896
41 1889
29 1889
58
58 1888
26

Last Dividend Places Where Interest and,
Dividends are Payable
and Maturity

4

1,000 .000
5g
1,069,000
4g
590,000
6g
1,524,600 See text
5
2,750,000
8
1,000,000
5
408,000
572,000
3g
6
£192,000

100
100 Ac
1,000
1,000
1,000
£6,000

When
Payable

N Y

Louisville
Standard Trust Co, N Y
Central Trust Co, Chic
Office, 115 B’way, N Y
do
do
55 William St. As earned
Office, 40 Wall St, N Y
45 Broadway, New York
Bk Brit No Am, London

J Jan 15 1908 l<y, Office. Gr Cent Sta, N Y
Chase National Bk, N Y
Jan 1 1937
do
do
J July 1 1941
J Jan 281910 6 Grand Cent Station, N Y
A eb I 1910 6%
D June 1 1007
S Sept 1 1028
N May 1 1031
A Feb 1 1010
do
do
J Jan 1 1940
,J

A D Dec 1 1980
A D Dec 1 1089
A O Oct 1909
A J July 1 1938
A A F b 1010 5
F
Jan 1 ’ 10 1 %
k — J
A D June 1 1959
J
F A A Feb 1 ’ 10 56
A J Ja 1010 214
J
A J July 1 1934
.1
J A J Jan 1 1926

,T

J
A
J

Lincoln Nat Bank, N
Grand Cent Station, N
do
do
Grand Cent Station. N
Union Trust Co, N Y
do
do
Farmers L & Tr Co, N

Y
Y
Y
Y

z New York Central holds $45,289,200 of this.
DIRECTORS.—Chairman, L. F. Lorce; Pres., J. A Edson. Hermann
Slelcken, J. A. Blair, W. T. Rosen, D. G. Bolssevaln, Andrew J. Miller,
W . G. Street, W . H. Williams and E. R. Bacon of New York; John J.
Mitchell of Chicago; S. W. Fordyce and Adolphus Busch of St. Louis;
G. M. Craig, Port Arthur. Tex.: W. F. Harrlty. Phlla., Pa.: Secretary Is
R . B. Sperry. Office, 25 Broad St., N. Y .— (V. 89, p. 1542; V. 90, p. 167.)
KANSAS CITY TERMINAL RY.— To own a union passenger depot
and terminal at Kansas City, Mo., with approaches, to be controlled
by ten railroads,viz.: Chic. R . I. A Pac., Atch. Top. & S. F ... Chic. Mllw.
& St. Paul. Chic. A Alton, St. Louis A San Francisco, Union Pacific
Wabash, Chic. Burl. & Q., Mo. Pac. and M. K. A T. V. 89, p. 1671.
Incorporated July 11 1900. Stock auth., $50,000,000; outstanding, $l , 000,000. In Oct. 1908 contracted to acquire the stock of the Kansas City
Belt Ry. and on July 22 1909 authorized the purchase of the stock of the
present Union Depot Co. In Sept. 1909 obtained franchise and will hasten
erection of station, Ac., to cost, with terminals, about $23,700,000, and to
be completed In about four years. V. 89, p. 666, 163.
In Dec. 1909 It was arranged to Issue $15,000,000 bonds, part or a
$50,000,000 authorized issue. V. 89, p. 1671; V. 90, p. 54; V. 83, p. 95;
V 85 p 405
In Oct. 1909 $4,000,000 had been borrowed at 4\4% inter­
est. guaranteed by the ten roads, bonds to be issued when conditions favor.
V. 83, p. 323. Pres., H. L. Harmon; Sec., C. C. Ripley; Treas., E. F.
Swlnney.— (V. 90, p. 54.)
KANSAS CITY VIADUCT & TERMINAL RY.— (.See Afap.)— Owns and
operates an elevated railway and highway viaduct from Bluff and 6th
Streets, Kansas City, Mo., to Minnesota Avenue and 4th Street. Kansas City
Kan. A branch viaduct,
mile In length, under construction, connecting
the main structure, and thus the two cities, with the Interlylng railroad
and manufacturing districts. Main structure completed heb. 1907, 1.6
miles, minimum width of 60 feet; material, steel and concrete. See V. 82
p. 160; V. 84, p. 271. 931.
STOCK.— Stock authorized, $3,500,000; outstanding, $3,447,700 (par of
shares $100), of which a majority Is deposited In a voting trust for 3 years
from completion of viaduct or until dividends of 4% have been paid for two
consecutive years. Voting trustees: Harvey E. Fisk, John P. Reynolds Jr.,
Francis S. Eaton.
^IBONDS.— First mortgage 4JV’ o bonds authorized, $3,500,000; outstand
mg, $3,312,000. Beginning with 1910 a sinking fund amounting to 6 % of
gross receipts for preceding year Is to be paid July 1 to retire bonds on satis­
factory terms; otherwise to be Invested.
Pres., Ira G. Hedrick; V. P. and Treas., J. P. Reynolds Jr.; Sec., E. E.
Ball.— (V. 85, p. 864.)
KENTUCKY & INDIANA BRIDGE & RR CO.— Owns steel cantilever
bridge over the Ohio River at Louisville and 5 miles of railroad between
Louisville K y., and New Albany, Ind., and 5 miles of belt line In Louis­
ville- also owns Louisville & New Albany Ferry Co. Successor Jan. 31 1900
to Kentucky A Indiana Bridge Co., sold In foreclosure subject to the
$1,000,000 first mortgage. The Southern R y., Ba timore A Ohio South­
western (B. & O.) and Chicago Indianapolis A Louisville own the $75,000
capital stock, and pay monthly. In proportion to cars handled, any deficit In
operations. Of the $2,500,000 first consol. 4s, $1,000,000 were reserved to
retire 5s due 1911 and $500,000 for Improvements. V. 71, p. 492.
EARNINGS.— For year ending June 30 1908, gross, $239,008; deficit
under Interest charges, &c., $2*'6,135. Pres., C. G. F. Bent; Sec. and
Treas., H. W. Hazlltt; Gen. Mgr., W. M. Mitchell.— (V. 71. p. 287, 342.)
KENTUCKY & OHIO BRIDGE CO.— V. 81. p. 1492; V. 82, p. 1379.
KENTUCKY & TENNESSEE RY.— See page 172.
KEOKUK & DES MOINES RY.— Owns from Keokuk, la., to Des
Moines. Ia., 162 miles. Leased for 45 years from October 1 1878 to the
Chicago Rock Island A Pacific Ry. The lessee pays 25% of the gross
earnings but guarantees the Interest (not the principal) on the bonds.
Stock Is $1,524,600 preferred and $2,600,400 common (par, $100), a
majority of which Is held by the lessee. Pref. entitled to dlvs. up to 8% If
earned and to share with common stock In any excess over 8% .
DIVIDENDS.— 1 ’99. ’00. ’01. ’02. ’03. '04. ’05-’ 07. 1908. 1909.
On preferred. %
IK H
1 1
2 1M None. Aug., 1M May, 1
Rental: In 1907-08/1906-07, 1905-06. 1904-05, 1903-04 and 1902-03,
137,500 (bond Interest) yearly.— (V. 87,.p. 37: V. 88. p. 944.)
KEOKUK & HAMILTON BRIDGE CO.— Owns bridge across Mississippi
River at Keokuk, la., for railroads and foot passengers. The property was
originally leased to four companies, but only two companies now use It,
these being the Toledo Peoria A Western and the Wabash. Regarding
guaranty, see V. 59, p. 969. On Judgment of 1889, $203,000 has been col­
lected; on judgment of 1894, $142,000; In April 1901 $142,000 was awarded.
V. 72. p. 821. Stock. $1,000,000; par. $100. Coupons arc In default, but
mortgage has never been foreclosed, and overdue Interest Is paid as earnings
permit. Last coupon paid, 2nd half of No. 48 (due Apr. 93) In Sept. 1909.
LEARNINGS.— Year ending June 30 1909, gross, $55,547; net, $39,569;
other Income, $10,302; Interest, $44,160.
In 1907-08, gross, $.>4,_709; net,
$35,547.
Pres., Andrew Carnegie; Treas., Theodore Gilman, 5a William
St., New York.— (V. 72, p. 821.)
KLONDIKE A1INES RY.— Dawson City to Sulphur Springs. 31** miles,
completed Jan. 1907; projected from Sulphur Springs to the Stewart River,
60 miles. Stock authorized, $2,500,000; outstanding. $943,000. The Daw­
son Grand Forks A Stewart River Ry. Corp., Ltd., owns all the stock and
bonds. V. 82, p. 509. Bonds, seo table above. V. 81, p. 725; V. 86, p.
. 857. Pres., H. B. McGlverln; Sec., Andrew Haydon, 19 Elgin St., Ottawa,
8an.— (V. 81, p. 725; V. 82, p. 509; V. 86, p. 857.)
[ ^KINGSTON & PEMBROKE R Y — See page 172.
LAKE ERIE & WESTERN RR.— ROAD.— Owns Sandusky, O., to
Peoria, 111.. 413 miles; branch to Minster, 10 miles; branch, Indianapolis to
Michigan City, 159 miles; Fort Wayne to Connersvllle and branch to Rushvllle, 129 miles; total owned, 711 miles; leases Northern Ohio R R .. Akron
to Delphos, 162 miles; trackage, 13 miles; total operated, 888 miles.




HISTORY, A c.— Formed In 1887 after foreclosure of the Lake Erie A
Western Railway. (See V. 50. p. 590; V. 85. p. 600.) In 1899 control
passed to the Vanderbilts, and on Jan. 1 1909 the Lake Shore A Michigan
South, owned $5,940,000 com. and $5,930,000 pref. stock. V. 71. p. 1269.
DIVS.—
1 ’02-’ 98. ’99. ’00. ’01-’03. ’ 04. ’05. ’06. ’07.
’08.
1909.
On preferred-/ 5 y ’ly. 0
2 4 y’ ly.
3
3
3
3
1
0
BONDS.— Abstract of first mortgage In V. 46. p. 45; of second mortgage
In V. 54. p. 444. Guarantees $2,500,000 5s Northern Ohio, which see.
EARNINGS.— 11 mos.,11909.............. Gross. $4,548,781; net, $1,022,259
Jan. 1 to Nov. 30.
(1908.............. Gross, 3,977,415; net,
620,047
ANNUAL REPORT.— Annual report for 1908 was In V. 88, p. 879.
1907.
1906.
Year ending Dec. 31—
1908.
$5,066,940 $5,212,812
Gross earnings_____________________ $4,534,789
775,148
1,219,125
1,451,318
Net (Including other Income)_______
~‘ ‘
213,650
211.382
263,066
Deduct— Taxes ___________________
543,750
543,750
543,750
Interest on bonds________________
125,000
125,000
125,000
Northern Ohio Interest guaranteed.
144.845
95,329
69,341
Rentals and miscellaneous_______
___ (2%)236 ,800(3%)355,200
Dividends on preferred stock_____
20,815
...........
87,092
Additions and betterments_______
Balance, surplus or deficit_______ def.$272,912
sur.$6,864 sur.$7,868
— (V. 86. p. 795, 852; V. 87. p. 1664; V. 88. p. 231. 748, 879.)
LAKE SHORE & MICHIGAN SOUTHERN RY.— (See Maps New York
Central.) — Operates from Buffalo to Chicago with branches. The main line
(537) miles) Includes 26 miles between Toledo and Palmyra, Mich., under
lease from the Erie & Kalamazoo 533 miles has double track)
Leased (*see this Co.)
Miles.
Road owned directly.
Miles.
58
Buffalo. N. Y ., to Chicago, 111.-.537 Kalamazoo A. & O. R -----------Sundry branches---------------------- 33 i Jamestown Franklin & Clearf’d 124
Mahoning Coal R R ----------------70
Entire stock owned.
Detroit A Chicago-----------------------25 Erie A Kalamazoo (26 m iles)--Text.
Detroit Monroe A Toledo------------- 51 Detroit Hillsdale A S W ............. *65
Kalamazoo A White Pigeon______ 37 Fort Wayne A Jackson_______ *98
67
Northern Central Michigan----------- 61 Detroit Toledo A Milwaukee—
7
Sturgis G & St L o u is ____________29 Battle Creek A Sturgis-----------88
Elkhart & Western____________ 12 Trackage.............................
Grand total oper. Jan. 1 1910 (of which owned, 1,087 miles)-----------1,663
By control of "Nickel Plate" the Lake Shore has still another line from
Buffalo to Chicago. Operates Dunkirk Allegheny Valley A Pittsburgh,
Dunkirk, N. Y ., to Titusville, Pa , 9t miles. V. 73, p. 663.
Owns $17,000,000 stock of Chicago Indiana A Southern R R .. which see.
V. 84 p. 753, 754. As to consolidation In 1909 under title of Jamestown
Franklin A Clearfield R R ., leased, see that co. above. V. 88, p. 944.
ORGANIZATION, Ac.— A consolidation on Aug. 16 1869. In 1898-99
$45,289,200 of the capital stock was purchased by the N. Y. O. A H. R.
HR. which g/ive In exch/inxc Its 3 H % bonds at the rate of $200 In bonds
for $100 In stock. V. 66. p. 288; V. 69, p. 1237.
.
New York Chicago A St. Louis road has been controlled by ownership of
stock since 1882, Lake Shore now owning $6,240,000 of Its common.
$7,500,150 of Its second preferred and $2,503,000 of Its first preferred stock.
The company also controls and leases the Mahoning Coal UR. (see Bake
Shore “ System” below) and owns (besides
$7,500,150 Pittsburgh A Lake Erie stock; $30,207,700
Clove. Cln. Chicago A St. Louis common stock: also $5,940,000 of the
$11,840,000 common and $5,930,000 of the $11,840,000 I-akc Eric A
Western preferred. V. 71. p. 1269; V. 72, p. 870; V. 8~. p. 749.)
Also owned Jan. 1 1909 of the $60,665,000 Reading Co. stock acquired by
the Pennsylvania-Vanderbilt Interests, viz.: $6,065,000 first pref., $14,­
265,000 second preferred and $10,002,500 common stock, the other half
being held by the Baltimore A Ohio. V. 80, p. 1856. As to purchase of
one-sixth Interest In majority Hocking Valley Ry. common stock, see that
company. V. 76, p. 102, 158; V. 77, p. 451; V. 83, p. 37.
List of stocks of companies owned Dec. 31 1908, V. 88, p. 764. Sec also
V. 78. p. 48. 1904; V. 80. p. 1852; V. 82, p. 749.
DIVS.
193-’97. ’98. ’99 to 1903. '04. ’05. ’06. ’07. ’08. ’ 09. 1910.
Since 1892, % /6 yrly 6
7 yearly.
8
8
8
12
14 12 Jan., 6
Bonds.— For $50,000,000 mtge. of 1897, see abstract Ini V . 04, p. 1182, and
V. 66, p. 1140; V. 68, p. 1182; V. 73, p. 1264; V. 75, p. 290, V. 77. P- 2035.
The $50,000,000 debenture 4s of 1903. due 1928 are to be secured by any
new mtge. V. 77, p. 1747. 2035; V. 78, p. 48; V. 80, n. 1012.
In Feb. 1906 $35',000.000 of 25-year 4% bonds duo 1931 of an authorized
issue of $50,000,000 were sold for impts., and In Jan. 1010 applicationi was
made to Issue the remaining $15,000,000 to retire the $lo,000,000 o/o notes
due Feb 1 1910 and to guarantee $11,000,000 Jamestown Franklin A Clear­
field 4% bonds received for advances for construction and improvements.
V JolnUy \vlthYouVother roads covenants to pay $30,000,000 N. Y . Central
Lines 5% car trusts of 1907, the company’s share of equipment leased being
$6,708,393. V. 85, p. 1402: V. 86. p. 168, 801, 803; V. 88, p. 761.
GUARANTIES.— Additional guaranties not shown ^ ov°- s%c
Indiana A Southern, Detroit Hillsdale A S. W. and ht. Wayne A Jackson.
GENERAL FINANCES.— Nothing has been charged to construction or
equip, acct, since 1883 except $7,500,000 for new equip. In 1906 the outlays
charged to operating expenses for new equip, acct, amounting In 1907 to
$911,126 and In 1906 to $1,201,877, and for construction to $1,202,277In
1908, against $4,082,988, these Items being exclusive of expenditures for
renewals. Prollt and loss surplus Jan. 1 1909, $21,510.868.
In Feb. 1910 40% extra dividend will be received on Pitts .A L. B., 50%
extra on Mahoning Coal RR. stock and in Mch. 1910 first dividend on N. Y.
Ch. A St. Louis common, In all about $3,619,210. V. 90, p. 167, 236.
EARNINGS.— 11 m os.,(1909.......... Gross. $41,131,528; net. $15,731,098
Jan. 1 to Nov. 30.
11908...........Gross, 35,535,634; net, 12,402,350
For 9 mos. ending Sept. 30 1909, net, $12,274,114, agst. $9,683,981 In
1908; other Inc., $3,223,084; deductions, $9,707,424; bal., sur., $5,729,774.

RAILWAY STOCKS AND BONDS.
J an ., 1910.]



78

RAILWAY STOCKS AND BONDS.

R A IL R O A D C O M P A N IE S
[ F o r a b b r e v i a t i o n s , <ftc., s e e n o t e s o n f i r s t p a g e ]

Lake Tahoe R y & Tr Co— 1st M g $500,000 s f beg 1905
Lancaster Oxford & Southern— 1st M $200,000 g o l d ..
Lansing Manufacturers— 1st M serial Interest re n ta l..
Laramie Hahn's P & Pac— 1st M $8,000 per m g.AB.c*
First ref M $1,800,000 gold sink fund red 1 1 5 ..(j.c *
Tw o-year coupon notes, $250,000 gold, red______ c*
Leavenwortli Terminal R y & Bridge— 1st M g o ld -.C e
Lehigh & Hudson River—-1st M gold Int red to 5 % .C e
Second mortgage gold______________________________
W arwick Valley first mortgage extended In 1900___
Second m ortgage_________________________________
Leh & Hud R lv gen AI $3,000,000 g (see text) -C e.c*
Debentures $400,000 redeem 105 after N ov 1911___
Equip trust certs gold due $40,000 yearly____ PeP.c
Lehigh & New England— 1st M $1,000,000 g o ld -.F P
N ortham pton 1st M g $300,000 guar red 105-FP.c*
Lehigh & Delaware first gen mtge redeemable at 105
Consolidated mortgage $3,000,000 gold call at 1 0 5 ..
General mtge $7,500,000 gold red 1 0 2 J^..Q u P c*
Equip tr ser A g gu red 102 h i due $30,000 y rly .Q u P
Lehigh Valley— Comm on stock ___________________ QP
Preferred stock 10% (V . 79, p. 151, 2 6 9 )------------QP
First mortgage extended In gold In 1898 — QP.c& r
Second m ortgage------------------------------------------------Consolidated M icou p on & reg $4,762,000 4 H s . c i r l
$40,000,000 j.a n n u ity $2,538,000 are 4 H S --F P J
Equipment trusts gold Series D, last installm en t-.
do
gold Series G , last Installment__________
do
gold Series H , due $90,000 yea rly---------do
gold Ser I, due $400,000 yrly (V 85,p 4l2)
do
gold, due $250,000 s-a Series J _ . Usm.c*
B on d s o f Controlled P rop erties —
Lehigh & N Y 1st M gold guar p & 1..........M p.c*& r
Leh Val o f N Y 1st M gold guar p & 1 (en d ). GP.c* &r
Lehigh & Lake Erie first m ige $3,000,000 gold —
Lehigh Val Term 1st M g guar p & 1 en d — Ce.c*&r

M iles
Road

D ate
B on d s

16 1901
28 1905
5 1905
40 1904
1907
1908
3 1893
42 1881
63 1887
15 1879
22 1881
63 1890
1907
1900
1895
15 1902
1904
1903
All
1908
All
1908
101
101
J
4611
834

...
11
283
31

1868
1870
1873
1873
1903
1905
1899
1902
1905
1906
1907
1895
1890
1907
1891

Hate

%

W h en
Payable

$300,000
A
$1,000
5g
200,000
A
100 &c
5g
75,000
J
1,000
5g
240,000
J
6 g
1,000
480,000
1,000
6 g
A
250,000
J
500 &c
6 g
600,000
J
1,000
5g
800,000
1,000
J
5g
104,000
J
1,000
5g
145,000
A
500 &c
4 hi
240,000
6
500 &c
A
1,000
1,320,000
J
5 g
400,000
4
1,000
M
1,000
280,000
4 hi g J
1,000,000
1,000
J
5g
300,000
1,000
5g
J
1,000
650,000
5
J
1,000
1,380,000
A
5 g
750,000
1,000
A
4 g
1,000
390,000
4 X g ,1
50 40,334,800 6 In 1909 J
50
106,300
10
,T
1,000
5,000,000
J
4 g
1,000
6,000,000
7
M
1,000 10,400,000 4 h i & 6 J
1,000 12,600,000 4 h i & 6 J
M
1,000 &c 26,639,000
4 g
1,000 16,000,000
F
4 g
300,000
1,000
4H g M
100,000
F
1,000
1,000 In treasury
F
4 g
M
1,000 In treasury
4 g
1,000
4,000,000
4hi g M
1,000
1,000
1,000

AN N U AL R E P O R T for 1908 at length was In V. 88. p. 742, 763.
Year ending D e c . 31—
1908.
1907.
1906.
T otal gross earnings__________________ $39,964,858 $44,953 475 $42,544,378
Operating ex p en ses__________________ 28,004,288 34,538,461 32,675,801
Net earnings..............................
$11,960,570 $10,415,014 $9,868,577
N et, including other Incom e..................$16,653,237 $16,131,433 $14,022,082
Rentals paid............................................
1,100,382
1,420,244
1,450,186
Interest on d eb t.......................................
6,388,641
5,949,909
4,593,294
T a x e s ...........................................................
1,424,201
1,300,875
1,438,640
64,020
74,690
53,350
Dividends on guaranteed stock _____
Dividends on com m on stock ______ (12)5,935,980(14)6,925,310(10)4,946,650
$460,406 $1,539,962
Surplus over dividends_____________ $1,740,013
— (V . 88, p. 375, 742, 763, 944; V . 89, p. 287, 1223; V . 90, p. 167, 236.)
LAKE SHORE SYSTEM — MAHONINQ COAL RR.— Owns from
Youngstown to A ndover, O ., and branches, 72 miles. In Dec. 1907 pur­
chased a one-half Interest In the Lake Erie Youngstow n & Southern and
Lake Erie & Eastern railroads, building a belt and switching line from
Girard to Struthers, reaching factories In Youngstow n, O ., and vicinity.
Leased In perpetuity tor 40% of gross earnings to Lake Shore, which
Jan. 1 1909 owned $865,900 com m on and $399,500 preferred stock.
D IV ID E N D S ./ ’ 91. ’92. ’ 93. ’ 9 1 .’ 95 to A u g .’06. '07. '08. ’09. 1910.
On com m on ____ \ 4 h i 8 >3 8
8
10 yearly
12 12 12 Feb. 56
In 1910 on com m on, F eb., 6% and 50% extra.
The preferred stock certificates are 5% guaranteed and contain a clause
m aking them redeemable at par at option of com pany.
Year ending Dec. 31 1908, rental and other Income, $754,015; surplus
over Interest and 12% on com . and 5% on p ref., $164,968.— (V . 90, p. 236.)
L A K E SUPERIOR & ESCANABA R R — V . 89, p. 470.
LAKE SUPERIOR TERMINAL & TRANSFER CO.— Owns 16 miles of
track used for transferring cars between the depots and tracks at W est
Superior, W ls., of the proprietary com panies, v iz.. Northern Pacific, Chic.
St. Paul Minn. & Omaha and Dul. South Shore & A tl., which owns $119,400
stock ($1,200,000 a u th .). On April 1 1909 the $195,000 6 % bonds were
retired. D. M. Phllbln, Pres., W est Superior, W ls.— (V . 88, p. 883.)
LAKE TAHOE RY. & TRANS. C O — See “ Sec ” A p r. ' 0 6 — (V .86,p.337.)
LANCASTER OXFORD & SOUTHERN RR.— See page 172.
LANSINQ M AN U FACTU RERS' R R — See V . 81, p. 1375; V . 82, p. 692.
LARAMIE HAHN’ S PEAK & PACIFIC R Y .— Owns from L aram le.W yo.,
to Albany, W y o ., 40 miles. Extension under construction from Albany to
H ebron, C olo., 68 m ., of which 15 m. being graded March 1909. Stock
authorized, $9,000,000 com m on; preferred 6% non-cum ulatlve, $1,000,000
authorized; par of shares, $10. (See V. 77, p. 824.) In Dec. 1907 the re­
funding 0s ($1,800,000 authorized Issue) were offered, $240,000 being
reserved to retire the first 6s and also an am ount sufficient to retire the
$250,000 6% notes; they are subject to call at 115 for a sinking fund of at
least $50,000 yearly, beginning 1912. V. 85, p. 1646: V . 88. p. 1061. Pres.,
Fred. A. Miller, Laramie, W y o.— (V . 85, p. 1646; V . 88, p. 1061.)
LEAVENWORTH TERMINAL RAILWAY & BRIDGE.— Owns highway
and railroad bridge (opened Jan. 1 1894), 1,110 ft. long, over Missouri R iver
at Leavenworth, K an., and valuable terminal property In that city. The
m tge. contains a s. f. provision. Kansas City St. Joseph & C. B. (Chicago
B. & Q.) and Chic. R . I. & P. use the bridge at an annual rental of $16,000
each, under a 30-year contract from 1894. The 30-year lease b y the Chic.
G t. Western (from Sept. 1905) was abandoned In 1909. V. 89, p. 1597.
For year 1907-08, gross, $46,224; net, $31,036; in t., $30,000; bal., sur.,
$1,036. Stock, $600,000 — (V. 89, p. 1597.)
LEHIGH & HUDSON RIVER RY. — Owns from M aybrook on Central
New England R y . to Belvldere, N. J ., on the Penn. R R ., 75 miles; track­
age, S. E. & P. R R ., Phlllispburg to Easton, 1 m .; trackage, Penn. R R .,
Belvldere to Philllpsburg, 13 m .; Ont. & W est., Burnside to Campbell
Hali, 2 m .; D. L. & W ., trackage, Andover Jet. to Port Morris, N. J ., 8 m .;
total operated, 99 miles. V. 79. p. 269. Stock. $1,340,000; par, $100.
BO N D S.— Of the $1,320,000 gen. m tge. bonds out, $1,062,000 are guar.
Jointly p. and 1. by the Central R R . of N. J. and Leh. Coal & N av. Co. An
additional $1,350,000 are reserved to take up prior liens and $330,000 for
extensions or acquisitions c f connecting roads. In Alay 1908 permission
was given to Issue $270,000 additional bonds, but none were Issued to
Dec. 1909. V. 86, p. 1285. Sec form of guaranty, & c.. In V. 67, p. 788 ;
also V . 85, p. 1513. Equlpt. trust 4 h i s . V. 83, p. 96. Locom otive rental
notes June 30 1909, $195,940; loans and bills payable, $326,000.
E A R N IN G S.— 3 m o s.J 1908-09................ Gross, $334,217; net, $110,909
July 1 to Sept. 30. \ 1907-08_________Gross, 237,428; net,
59,869
Surplus after charges, $29,075, against def. $4,485 In 1908.
AN N U A L R E P O R T .— For years ending June 30, V . 87, p. 1415.
Y ea r ending J u n e SO—
G ross.
N e t.
I n t ., T a x e s, & c . B a l.,su r
1908-09......... ........................$1,251,316
$382,660
$302,260
$80,400
1907-08__________________
851,519
243,996
232,464
11,532
Lewis A. Riley, Pres., Philadelphia, P a.— (V . 88, p. 375.)
LEHIGH & NEW ENGLAND RR.— Operates road from Slatlngton, P a .,
to Campbell Hall, N. Y ., 95 m ., Bethlehem to Bangor, P a., 31 m .; Bath to
Martin's Creek, Pa., 20 m .; branches, 32 m .; total, 178 m ., of which tw o sec­
tions. aggregating 35 m ., are trackage, leaving 143 m. owned. V . 79. p.
2642. Lehigh Coal & Navigation Co. owns control. V . 78, p. 1781, 1962.
S E C U R IT IE S .— S tock, $1,000,000; par, $50. Of the generals of 1908
($7,500,000), $1,200,000 were Issued to retire floating debt Incurred for
Improvements, $100,000 to retire Lehigh & Lackawanna bonds maturing
Dec. 1 1908, $3,250,000 reserved to retire remaining underlying bonds
and $2,950,OoO for future requirements. Car trusts, guar, by Lehigh Coal
& N av. C o., V. 86, p. 1343, 1409.
E A R N IN G S .— For year ending June 30 1909 (132 m iles), gross, $777,061;
net, $260,628: charges, $273,012; bal., d ef., $12,384. Pres., W . A. Lath
rop ; V .-P . and Gen. Mgr., Rollln H. Wilbur; V .-P . and Gen. Counsel, W m .
J ay Turner; Sec. and Treas., H. F. B aker.— (V . 86, p. 1343, 1409.)




Am ount
Outstanding

Par
V a lu e

2,000,000
15,000,000
3,000,000
10,000,000

Last D ividen d
and M a tu r ity

O Oct 1 1931
o Apr 11935
.1 July 1 1915-30
J July 1 1929
o Oct 1 1932
& D15 Dec 15 1910
& J Jan 1 1923
& J July 1 1911
& J July 1 1917
& o July 1 1911
& o A pr 1 1912
J July 1 1920
«
& N July 1 1920
& I) June 1 ’ 10-’ 16
& J July 1 1945
& J Jan 1 1952
& J July 1 1954
&
() Oct 1 1953
&
o April 1 1958
& I) T o June 1 1923
A
J Jan 8 1910 3%
& ,T Jan 8 1910 5%
& 1) June 1 1948
&
S Sept 1 1910
&
D Dec 1 1923
& 1) Irredeemable
& N May 1 2003
& A A u g'1 0 -F eb ’26
&
S Mch 1 1910
& A Aug 1 1910
&
A T o Feb 1 1913
&
S T o Sept 1 1916
A
S M ch '1 0 -S ep t'17
&

&
&
&
&

M &
&
4 hi S J
4hi g M &
A &
3 g

4 g

[VOL. L X X X X .

s Sept 1 1945

J July 1 1940
s Mar 1 1957
o Oct 1 1941

P la c e s W h ere I n terest a n d
D iv id e n d s a re P a y a b le

Merc Trust Co, San Fran
Farmers Tr Co, Lancaster
Union Trust Co, Detroit
Amer Loan & Tr Co, Bost
LB arnum & Co.N Y& LosA
Central Trust Co, N Y
1Irving Nat E xch Bank
I N Y , and First Nat
)• Bank, W arwick, N Y
Irving Nat E xch Bk, N Y
Philadelphia
108 South 4th St, Phlla
do
do
do
do
do
do
do
do
Guar T r & S D Co, Phlla
Checks mailed
do
Office, 228 So 3d St. Phil
do
do
do
do
do
do
JPM organ& Co.NY & Phil
do
do
P rov Life & T r Co, Phlla
Philadelphia
Philadelphia
JPM organ& Co,N Y& Phil
do
do
JPM organ& Co.NY& Phil

LEHIGH VALLE Y R R .— (See M a p . ) — Jersey City, N . J ., opposite N. Y .
City, to Buffalo, N. Y ., 450 miles, with branches, viz.: (*See these cos.)
H IS T O R Y , & c.— In 1901 the Erie, Lackawanna, Central of New Jersey,
Reading and Vanderbilt Interests entered the directory, but In 1908 the
Erie and other holdings were reported as sold. V . 72, p. 137, 391; V . 86,
p. 228; V . 87, p. 1533. The Drexel-Morgan Interests, It Is understood, have
a preponderating voice In the management, although the R ock Island Inter­
ests late In 1909 acquired a large am ount of stock, supposed to be a b ou t
2 5 % . V . 89, p. 1483; V. 90, p. 54.
In October 1905 the entire capital stock of Coxe Bros. & C o., owning e x ­
tensive coal properties In Luzerne and Carbon counties, P a., and o f the
Delaware Susquehanna & Schuyklll R R ., extending from Drlfton to
Gowen, P a., 31 miles, with branches, 17 miles, were acquired. See
"F inances” below. V . 81. p. 1175, 1242, 1376: V. 82, p. 100; V . 83, p. 702.
F e e or E n tire Stock Ow ned —
I
M ile s .
Af tie s * Lehigh & N. Y ., Pa. State line
Buffalo, N, Y ., to Sayre, Pa________ 181 to N o. Fair H aven, N. Y ___ 115
Wilkes-Barre, Pa., to Jersey
O th e r __________________________
79
C ity ......................................... 174 L ea sed — State Line & Sullivan,
Elmira Cortland & Nor*___________ 139 e t c __________________________ *28
47
Branches____________________ 544 Trackage to Susp. Bridge, & c._
Pa. & N. Y .,Wilkes-Barre to Pa.
Total June 30 1009................. 1,441
State line (with 43 miles
588
branches) _________________ 140 Second track__________________

COAL PROPERTY.— The Lehigh Valley R R . Co. owns all the ($1,965,­
000) stock of the Lehigh Valley Coal Co. (V. 81, p. 1726). Annual report
for 1908-09 in V. 89, p. 845. In 1905 purchased the holdings of Coxc Bros.
& Co. V. 81, p. 1175: V. 83, p. 702.
The Coal Co. shipped from collieries owned and controlled 7,734,078 tons
of anthracite coal In 1901-09, against 9,263.890 tons In 1907-08; total coal
and coke tonnage, 1908-09, was 13,273,136.
DIVS.
/ '88 to ’ 91. ’ 92. 93. ’94 to ’03. ’04. '05. ’06. '07. ’08. ’09. 1910.
S ince’8 7 .%\ 5 yearly 5 hi 4
None
1
4
4
6
6
6 Jan., 3
BONDS.— The gen. consol, mtge. of 1903 will secure $150,000,000 bonds
bearing not to exceed 5% Int., covering the entire road, the stock of the
Lehigh Valley Coal Co. and other stocks owned. Of the bonds, $10,000,000
were Is -liable at once, $10,000,000 were reserved to retire car trusts and
coal-purchase bonds, $96,000,000 to retire at or before maturity outstanding
llxed obligations amounting to $94,130,000 (tncl. the coll, trust bonds, and
$2,000,000 coal trust ctfs. of 1902, which were called for payment), on pay­
ment of which the general consols will be a first lien on all the property of
the system, except as to $12,600,000 annuity bonds, which arc a perpetual
charge; the remaining $34,000,000 were Issuable at not exceeding $2,000,000
a year, orsuch larger amts, as may be auth. by stockholders, beginning Jan.
1906, for acquisitions, terminals, coal properties, equipment, &c. Old
bonds may, however, be extended If necessary for not over two years.
Provision may be made at the time of Issue of bonds thereunder for the right
to convert Into stock at the pleasure of the holder not over $25,000,000 at
any one time. V. 77, p. 824; V. 78. p. 287; V. 79, p. 1642; V. 82, p. 1380;
V. 86, p. 1343; V. 88, p. 1372. See property covered In V. 81, p. 211.
The purchase of the stock of Coxe Bros. & Co. ($2 910,150' and of the
Delaware Susquehanna & Schuykill R R . ($1,500,000) In Oct. 1905 was
financed by an Issue of $ 1 9 ,0 0 0 ,0 0 0 coll, trust 4% bonds, to bo retired by
$500,000 semi-annual Installments beginning Aug. 1907 and secured by
deposit of those stocks. The bonds are subject to call as a whole at 102 hi
beginning Aug. 1 1912, or In the order of serial numbers. V. 81, p. 1175
1242, 1376; V. 82. p. 100; V. 83. p. 702; V. 84, p. 1428; V. 88, p. 452.
GUARANTIES— Lehigh V a l. R ail W a g C o . or N . Y . — Owned Buffalo,
N. Y . ,lto near Sayre, Pa., 175 m. double track, and branches to Ithaca, Au­
burn,&c., 106 m.; In all 281 m ., covered by $15,000,000 mtge. of 1890 , hut In
1903 and 1905 consolidated with other sub. cos. and In 1907 absorbed the
Leh.& L. Erie; total mileage now Is 501 miles. Stock, $11,200,000, all owned
by Lehigh Val. R R ., was In June 1907 authorized to be Increased to $13,543.­
000, of which $11,543,000 Issued. Mortgage abstract, V. 51, p. 114; V. 77,
p. 147, 972; V. 81. p. 784; V. 83, p. 38; V. 84, p. 1366.
Lehigh V alley T erm in a l R a ilw a y . — O w n e d double-track road from South
Plainfield, N. J ., to Jersey City, with about 125 acres at Jersey C ity and a
large water front there, &c. Merged In A ug. 1903 with'Other^sub. cos.
In L. V . of N. J ., having a total mileage of 119 m ., Its $12,506,000 o u t­
standing stock ($7,927,000 additional In treasury) being all owned b y
Lehigh Val. RR. V .7 7 , p. 972; V. 53, p. 040, 880; V .8 1 , p. 784; V .8 3 , P -7 03 .

M o r r is C a n a l. — Leased for 999 years and dividends guaranteed.
Bonds
all owned by Lehigh Valley. See V. 50. p. 137.
P en n sylva n ia & N ew York C anal A R ailroa d .— Leased for 99 years from
Dec. 1 1888 to Lehigh Valley, which has assumed Its debt and owns all Its
stock. The consols Include $4,000,000 of 5 per cents, $3,000,000 of
4s. $1,500,000 of 4Hs. V. 62, p. 950.
Consolidated R eal Estate C o .— See V. 78, y. 1223; V. 79, p. 1271; V. 83,
p. 702. To June 30 1909 none had been Issued.
Seneca C ou n ty R y . , $500,000 guaranteed bonds: none Issued June 30
1909. See V. 79, p. 1271.
The Lehigh & Lake Erie mortgage ($3,000,000) covers 11 miles double­
track terminal road at Buffalo opened late In 1907. V. 81, p. 211; V. 83.
p. 702. The road Is leased for 999 years. V. 84, p. 1248; V. 85, p. 412;
V. 87. p. 817, 818.
EARNINGS.— 5 mos.,11909..........Gross, $15,214,924; net, $6,218,856
July 1 to Nov. 30. \1908.........Gross. 14,416,341; net, 5,496,009
ANNUAL REPO RT.— Fiscal year ends June 30. The report for 1908­
09 was given In V. 89, p. 838, 851, 914. Sec also editorial, p. 812. Com­
parisons with operating expenses, net earnings and “ other Income In
1906-07 somewhat Inaccurate, owing to changes In accounting. _______
R evenue from O p era tio n —
1908-09.
1907-08. 1906-07.
Coai freight revenue________________$14,831,071 $10,175,280 $15,270,214
Merchandise freight revenue________ 13,291.831 14,011,302 14,864,262
Passenger revenue_________________
3,905,003
4,159,890
4,326,119
Mall, express, & c . . . ............................
1,109,268
1,163,682
1,060,852

Total operating revenue__________ $33,137,832 $35,510,154 $35,521,447

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R A IL R O A D C O M P A N IE S
[F o r abbreviations, & c ., see notes on first page]

Road

Lehigh Valley— (Concluded) —

Easton & A m b oy 1st M Easton to Perth A m b oy gu
Easton & Nor 1st M gold guar b y Leh V a l.Q P .c*& r
Middlesex Valley first mtge $600,000 gold ------ Ce.c
P enn & N Y C an& R R — Cons gu (text)p & l(end) -G P .r
Elmira Cortland & North first pref mtge g o ld --C e .c*
First mortgage gold guaranteed p & 1 (en d )— Ce
Morris Canal stock 4 % guaranteed 099 years.
Preferred stock 10% guaranteed 099 years.
L V Coal Co 1st M $ 1 2 ,0 0 0 , 0 0 0 g s t not d ra w n .c*& r
do
interest reduced - - - - - - - - - - - - - - - - - - - ,7 5
Delano L ’d IstM g gu(s t enough to retire b d s )..U P
W yom ing Valley Coal consol (now 1st m ortgage)- Consol Real Estate first mtge $2,600,000 gu ar.U sm
Lexington & East— 1st M g ext In 1901 red 1 0 2 --Ce^c
General mortgage gold -------- - — - - - - - - - - - - - - - N .
Lexington Union Station— Preferred stock (see text) .
Lime Rock— Consolidated refunding mortgage g o ld -Litchfield & Madison — First mtge $1,000,000 g - - - Little Falls & Dolgeville— First mtge $250,000 g o ld -T
Little M ia m i— Stock com guar 8% 09 yrs P C & St I
u Special guaranteed betterm ent stock ($5,000,000)

Long island— Second (now first) mortgage - - - - - - .c*
L ong Island R R m tgeon ferry for $2,750,000 g.Ce c ’

Second M g assum Bus Sta to Eastp & b rs.-C e.c*
Long Island City & Flushing first mtge a ssu m ed --C
Consolidated mortgage gold assumed----------Ce.c*
New York Bay Extension 1st M assumed-----------------

Operating expenses--------------T a x e s ..........................................

D a te
B on d s

Par
V a lu e

1880
1895
1892
1888
1884
1884

T otal In com e....................................... $12,187,300 $73,704,600 $14,283,198
Interest on bonds, & c..... ...........
$3,789,903
$3,745,128 $3,66o,503
Rentals and guaranties......................... 2,316,473
2,316.473
2,200,473
Miscellaneous deductions------------------237,061
272,42o
323,679
Additions and betterm ents__________
582,643
1,775,264
2,068,o90
T otal deductions from Incom e____ $6,926,140

$8,109,290

Net I n c o m e .......................................... $5,261,160
375,452

$5,595,310 $6,024,953
388,606_____ m . 250

Total net Income

$8,258,245

$5,636,612
$5,983,916 $6,136,204
stock (1 6% ) - 10,630
10,030
10,630
stock------------(6)2,420,088 (6)2,420,088 (5)2,016,740

Balance, surplus__________________ 3,205.894
3,553,198
4,108,834
P res.. E. B . Thom as, 143 Liberty S t., N . Y .; Asst, to Pres., L. D. Smith;
1st V -P .. J. A. Middleton; Gen. Mgr., J. F. Maguire: lrea s., J. M. Baxter;
Sec
D G Baird, 228 So. 3d St., Philadelphia; Executive Committee:
Chairman, E. B . Thom as; Geo. F. Baker, E. T . Stotesbury, Charles
Steele, W . H. Moore, Daniel G. R eid, P. A . B. W ldener and Geo. F . Baer.
Directors— Edward T. Stotesbury, S. P. W olverton, Alfred C. Harrison,
W m H . M oore, Daniel G. R eid, E. S. Moore, Charles Steele, Abram Nesblt,
P A B W ldener, Geo. F. Baker, E. B. Smith and Geo. F . Baer.— (V. 89,
p.’ 838, 851, 914, 1483, 1597; V . 90, p. 54, 236.)
LFYINGTON & EASTERN RY.— Owns from Lexington, K y ., to Jack­
son, Ky^, about 92 miles
Stock, $500,000; par, $100. Reorganized
without foreclosure In 1901 per plan V . 73, p. 663.
B O N D S .— The 1st m tge. 5s were extended at same rate of Int. to July 1
1911, the com pany having the right to call and redeem all or any of them at
102 and lnt. All lnt. on the gen. m tge. bonds was waived to A ug. 1 1901.
Int. thereafter to be paid In cash Feb. and A u ?. 1, as follows. 2% yearly
for 5 years, then 3 % for 5 years and 5% yearly thereafter to m aturity. De­
ferred debentures will be Issued from time to time for bal. of the lnt. not paid
In cash on the gen. mtge. bonds accruing after A ug. 1 1901, such debentures
($375,000 eventually) being payable without lnt. whenever the com pany
shall decide (either in cash or bonds), or shall pay dividend on stock.
E A R N IN G S .— 5 m o s .,11909.................... Gross, $187,548; net, $47,774
July 1 to N ov. 30. ( 190 8 -................G r o s s ,
164,817; net, 21,970
Year ending June 30 1909 gross, $412,626; net over taxes, $52,736;
other Income, $18,816: charges. $138,271; deficit, $66,719. Pres., Arthur
Cary, Lexington, K y .— (V . 76, p. 542.)

LEXINQTON UNION STATION CO.—Owns passenger station at
Lexington, K y ., opened July 1907.
, .. .
„ .

Comm on stock, $15,000, owned equally b y Loulsv. & N ashv., Ches. &
Ohio and Lexington & Eastern. There will be Issued $500,000 of the 4%
cumulative (non-voting) preferred stock, secured b y m ort.,a n d rentals paid
b y above-nam ed roads on basis of passenger cars. Pres., W . A . M cDowell;
Secretary and Treasurer, A . Mitchell Jr.
LIME ROCK RR.— Owns road In and around R ockland. M e., 11 m .;
trackage, 1 m .; total, 12 m. Stock, $450,000; controlled b y the RocklandR ockport Lime Co. of Maine. V . 82, p. 1380. D lv. In 1905-06, 5 % ; 1906­
07, 5 % , of which 3 % from accumulated surplus; 1907-08, 2 M % . Year
ending June 30 1908, gross, $72,354; net, $28,256; other Income, $3,945;
Interest and taxes, $20,115; dividend (2 H % ) , $11,250; balance, surplus,
$836. O ffice, R o ck la n d .— (V . 82, p . 1380.)
I ITCHFIEI D & A1ADISON RY.— Owns Litchfield Jet. to Madison. 111.,
4 4 m 'tra ck a g e , 1 m .; total. 45 m. S tock, com m on. $500,000; p ref., 4%
non -cum ., $500,000; par of shares $100. Form erly controlled b y Chic.
Peoria & St. Louis. F or year ending June 30 1900, gross, $219,839; net,
$63,622; Interest, taxes, & c.. $57,819; balance, surplus, $5,803. Pres.,
James Duncan, Alton, 111.— (V . 79, p. 2456.)
LITTLE FALLS & DOLGEVILLE R R — Owns Little Falls, N Y ., to
Dolgeville, 10 miles. Operates under agreement Dolgeville & Salisbury
R R . extending from Dolgeville to mine of Salisbury Steel & Iron Co.
Stock, $250,000, of which the New Y ork Central & H udson River In July
1906 acquired a m ajority. Bonds, see table. 1'or year ending June 30
1909, gross, $68,441: net, $24,015: other Income, $1,119: charges, $9,542.
Pres., W . H . Newman; S ec., D. W . Pardee.— (V . 83, p. 272.)
LITTLE KANAWHA RR.— Parkersburg, W . V a ., to Creston, 50 miles.
Stock. $3,000,000 authorized: Issued, $509,500. Owned b y the Pittsburgh
& Lake Erie, Pennsylvania and Baltimore & Ohio, the last named operating
the road from May 1 1908. V . 86, p. 981; V . 82, p. 628; V . 86, p. 981.
LITTLE MI AiMI RR.— (.See Maps Pennsylvania R R .)— Owns Cincinnati
O ., to Springfield, O ., 84 m .; branch, X enia, O ., to D.ayton, O ., 15 ra.; D ay­
ton. O., to Ind. State line, 38 m .; leases, Columbus & Xenia R R ., Xenia, O .,
to Columbus, O., 55 m.; Cln. St. Con. R R ., 2 m .; Richm ond & Miami R R .,
Indiana State Line to Richm ond. 4 m .: total, 195 miles.
L E A S E .— On Dec. 1 1869 leased to Pittsburgh Cincinnati & St. Louis
(now Pittsburgh Cincinnati Chicago & St. Louis) for 99 years renewable for
ever. The Penn. R R . Co. Is a party to the contract and guarantees Its
faithful execution. Rental Is 8 % on $4,943,100 com . stock, 4 % on better­
ment stock, and Int. on debt. V. 84, p. 5 1,8 15 ; V . 86, p. 857.
Lessee’s report shows results to lessee: In 1900, profit, $65,989; 1901, $67,
151; In 1902, loss, $92,069; In 1903, loss, $241,593; In 1904, loss, $133,746
In 1905, loss, $167,692; In 1906, loss, $185,303; In 1907, loss, $54,477;
in 1908, loss, $142,946. Stock authorized, $10,000,000. Beginning Dec.
1899 1-5% extra paid on com m on stock each Dec. and June from the surplus
Invested fund, making dividend 8 2-5% yearly.— (V . 86, p. 857.)




Rate
%

Last D iv id en d
and M a tu r ity

W h en
P a yab le

$1,000
500 &c
1,000
1,000
1,000
1,000
100
100
1,000
1,000
1,000

1908-09.
1907-08.
1900-07.
.$20,575,736 $22,312,036 $21,967,331
1,079,376
1,122,867
885,909

Lehigh Valjey Coal Co. net In co m e.-

A m ount
Outstanding

M &
5
$6,000,000
51,000
4H g M &
M &
211,000
5g
8,500.000 4, 4 Yi , 5 A &
A &
750,000
6 g
119
A &
1,250,000
5 g
119
F &
4
706,700
F &
10
903,600
5g
J &
10,114,000
1892
&
J
1,400,000
4 g
1892
&
J
1,082,000
5 g
1891
&
J
6
200,000
&
F
4
In
treasury
1,000
1906
&
J
850,000
5 g
1895
1,000
1,500,000 See text F &
02 1895 1,000 &c
J
4
388,000
100
J &
400,000
4 g
1,000
12
M &
1,000,000
5 g
1,000
44 1904
&
J
250,000
3 g
1903
100 &c
8 2-5 Q--M
4,943,100
50
4
3,576,400
50
G - -M
M &
5
1,500,000
1,000
84 1882
&
J
1,140,000
4 g
1,000
53 1899
&
J
2.487.950
5 g
50
32
F &
268,703
7
100 &c
155 1878
4,731,000 4 & 5 g
1,000
156 1881
Q J &
3,000,000
4 g
1,000
163 1888
1,494,000
1,000
4M g M &
1892
J &
332,000
4
g
1,000
18 1892
J Sc
5 g
1,000 a l , 135.000
1894
M Sc
6
125,000
1.000
2 1880
1,000
1,000,000 5 & 6 g M Sc
76 1881
J Sc
5 g
600.000
1,000
76 1888
M Sc
6
1,000
600.000
12 1881
M Sc
5 g
1,000
650.000
10 1887
J Sc
5
1,000
aioo.ooo
C 1893
colum n; bala nee unde r unified mo rtgage
60
. 12
22

Operating Income ________- ________ $11,482,720 $12,075,250 $12,668,207
7 0 4 ,5 8 0
1 ,6 2 9 , 3 5 0
1 .6 1 4 , 9 9 1
o t h e r i n c o m e - - . ! : : : : : .........................

n Iv Men d s o n preferred
D iv id e n d s o n c o m m o n

[VOL.

RAILWAY STOCKS AND BONDS.

80

o

A
A
J
J

J
J

S

S
D
N
N

J

Places W here Interest and
D iv id en d s are P a yab le

Office, 228 So 3d St, Phil
do
do
Philadelphia
Lehigh Valley R R , Phlla
do
do
1 1914
do
do
1 1914
1910 2% Office, 228 S 3d St, Phlla
do
do
1910 5%
J P M o r g a n & C o . N Y & P h il
1 1933
do
do
1 1933
Philadelphia
1 1932
Phil deiphla

N
N
N
O
O

A
J
A
J
J
N
J
10
10
N
J
J
A
J
D
S
D
D

LXXXX.

1 1910 2%
1 1929
Nov 11934
J ly 1 1932
Dec 10 ’09 2 1-E
Dec 10 1909 1
Nov 21912
July 1 1939
July
June
Mch
June

1 1931
1 1938
1 1922
1 1932
1 1934
Mch 1 1920
Mch 1 1911
June 1 1938
May 1 1911
May 1 1937
Jan 1 1943

J K T od & Co, New Y ork
See text
Office, Lexington, K y .
Portland, Me
Central Tr. C o., N . Y .
Amer E xch Nat Bit, N Y
Office, Fosdlck B ldg, Cln
do
do
Bank of America, N Y
St Louis and Philadelphia
O ffice, 410 W alnut,Phlla
U S Mtge & Trust C o .N Y
do
do& Lon
do
do
do
do
do
do
do
do& L on
do
do
do
do
do
do
do
do
do
do
U S Mtge & Trust C o .N Y

PactjTcd— Owns Hot Springs to Junction. Ark , 53 ml' esA ° f( ' ^ ch By n^ n

“ S'V' 58°“ ,.¥m? v ." STVIS.’“ swog“ “

A S m j i w st;

LITTLE SCHUYLKILL NAVIGATION RR. &

^tota?

Louis Iron Mountain & Southern R y . (Missouri Pacific system ). vyhlch guar.^
the bonds, prln. and lnt., by endorsement. V . 78, p. 583.
lnei stock
holders of the St. Louis I. M. & So. will vote on Feb. 2 1 9 1 ° ,n n ^ m
ve-fr
the road. V. 89, p. 1541. D ividend, 3 M % , paUl, i n„ (
1908-09, gross, $213,678; net, $44,383: other Inc., $ 2 4 , 9 0 4 . fixed charges.
$4 9 ,9 9 9 ; bal., sur., $19,288. Pres., W . C. F ord yce.— (V . 89, p. l o i - . )
Clinton to Tamanend and Reevesdalc, 3 1 . 4 8 miles; 2d track, 26.49 m ., tota ,
91.31 miles. Re-leased on Dec. 1 1896 to Phlla. & R ead. R y. Jor 999
and rental reduced from 7 % on stock to 5% Bold from Jan. 1 1897. ofL v''
dends: In 1898, 5 H % : 1899. 5 H % : 1 ° 0 0 , 5 : iOOl. 5 H . 1902. 5 )4 . 1903, 5,
1904, 5; 1905, 5 ^ ; 1906, 5; 1907, 5 H; 1908,5 H : 1809, 5, 1910, J a n .,2 ^ .
Lessee pays taxes and organization expenses.— (V . 7J, p. os>4 .
LONG ISLAND R R ,— Operates the steam surface roads of L ong Island.
O w ns—
M i l e s .]
L ea ses— (*W hlch see.)
Long Island City to Greenport— 05 IN. Y . & R ^ ^ a w a y ^ a c h R y - 5
Long Island City to M ontauk------ U5| J a m a ica * S °.S h o re (V .7 8 ,p .l0 2 )
5
Sundry b ra n ch es............................. 106 N. Y . B’klyn & Man. B e a c h * - - _ 1 8
T otal Dec. 31 1908..........
391
T otal owned (V . 77, p. 2 09 8 ).-3 1 6
Oper. electrically In Dec. 1 9 0 9 --1 40
Double track--------------------------------127
Nassau Electrlo R R _____________ 10
North Shore Branch R R --------------30
Also owns through the L ong Island Consolidated Electrical Companies
the Huntington R R ., Northport T raction, Nassau County R y . and O c e a n
Electric R y ., having a com bined mileage of 2 6 ^ ™lles, Including the
mile :, Huntington to A m ltyvllle, opened Sept 1009. V. 80 p. 593.
The Penn. R R . Is building an underground tunnel (electric railroad)
for passenger service from Jersey C ity under the Hud8° “
1 0 a ccntral
passenger station at 3 3 d St. and 7th to 10th avenues, and thence under the
East River to a connection with Long Island R R ., and thus with N- Y N. H. & H. R R to be com pleted In 1 0 1 0 ; see V . 74. p. 830; V . 7 o, p . 1203,
V . 84, p. 931. As to Improvements, see V . 89, p. 6 6 6 , 1483.
ST O C K .— $12,000,000. par, $50: of which Penn. R R . owns $6,797,900.
D IV ID ’S .— (1882 1883 to 1890 1891 1892 1893 1 8 9 4 1895 1896 None
Per cen t..........1
4 yearly
4 ^ 5
5 4 ^ 4
4
since
BONDS — The refunding 4s of 1903 ($45,000,000 authorized Issue) are se­
cured b y a Hen on the entire road, subject to the $ 2 2 , 5 9 2 , ^ 0 outstanding old
bonds, to retire which an equal am ount \s r e s e i ^ r o c f e d s V o
000 guar, as to prln. and lnt. b y the Penn. R R ., were sold, the procecus to
be ufed for various Improvements and additions In connection with the
Pennsylvania tunnels to and through New York City, principally for addi­
tional terminal facilities at Bay Ridge and L ong Island City|a n d for a double­
track connection with the New Haven road, for additional freight and passengerCterminals, 'tra ck s, equipm ent, and t o retire old bonds. V . 78. p.
683 1549- V 79 D. 2796; V . 80, p. 1111; V . 81, P- 211; V . 82, p . 868.
Due Pennsylvania^*RR. Dec. 31 1908 for advances, $6,144,249.
Pennsylvania Co. Dec. 31 1908 owned $2,600,000 4 % equip, ctfs
£ h e unified mortgage Is limited to the amount now outstanding. Bonds
are subiect to call at 110 In whole or In part on any Interest da y. V . 68,
n 618
Mtees on real estate, $1,969,917. V . 76, p. 266: V . 85, p. 160.
^*In V ov 1909 authority was Riven to issue not over $16,500,000 10-ycar
4 % d eb en tu res of which a portion to be Issued to reimburse the Pennsyl­
vania R R for" advances aggregating $6,062,952 on account of various
improvements during 1905 to 1908, the remainder to cover additional
L d v S E K to ? c o n s tr u c tio n , Improvements and new S h ip m e n t upon which
a c o n s id e r a b l e

sum w ill

b e s p e n t In n e x t

th ree y ears

V . 89, p .5 2 9 , 1411.

G U A R A N T IE S .— In addition to guaranteed bonds In table above, guara n te cs 5 % o n $650 000 New York Brooklyn & Manhattan Beach pref. stook
a ss a rtV e n m l; ateo 4 « % on $50,000 P. P. & So. Br. stock and 4 * % on
^*The shareholder^ voted S W l l l o a V a guarantee, principal and Inter­
est anauthorized I s s u e o f $10,000,000 4 J* % 40-year collat. trust bonds o f
the L ot" Island Consolidated Electrical Companies, a holding com pany, all
nf whose stock Is owned, for the trolley lines owned and controlled. See
V . 82, p. 100,864; V . 84, p. 865: V .86,p.1157. No bds. sold to Dec. 31 1909.
pA P lV T N frS __-5 mos ■f 1 9 0 9 -- - - - - Oross, $4,453,841 j net, $1,671,289
j S y l to N ov. So
{ l 9 0 8 ............Gross, 3,867,555; net, 1,174,525
R E P O R T .— R eport for calendar year HlOf^was In V.^88, p. 097-ig00
Gross earnings
....................... $9,818,545 $10,130,408 $9,595,596
O perat lng1expenses I I I ...........................
7.267.235
8,526,585 7.481.162
Net ea rn in g s---------------------------------- $2,551,310 $1,603,823
Total n e t ---------------------------,--------------- $2,768,178 $1,935,892
455.198
542,747
Fixed rentals of leased roads................
1,803,330
Interest on bonds-------- ----------------------- 1,803,330
67,721
152,289
Int. on mortgages, ground rents, & o.
345.198
393,312
Taxes
_____ ________________________
123,294
152,588 ___________
Miscellaneous________________________ ____________

$2,114,434
$2,520,941
417,951
1,772,465
41,442
260,563
56,879

Balance.............................................deL$276,088 def.$858,829 dcf.$28,359
Bond Interest does not Include all the Interest, a■ ‘ ‘ P f 0 P ® i , 25
securities Issued for Improvements extending through several /f® .1? ’
which no additional revenue can be derived until com pletion, having been
charged to cost of construction. Seo Y ,,
, 0„
phiin
Pres., Ralph Peters: Treas.. Henry Tatnall, Broad St. Station, Phlla.—
(V . 87, p. 1238; V . 88, p. 997; V . 89, p. 529, 1411 *1483.) J ^ 1
I
LORAIN & WEST VIRGINIA RR — Wellington to Lorain,rO ., 30 miles,
with branches, 5 m. S tock, $2,000,000, all outstanding; par $100. F or­
merly controlled by W heciing & Lake Erie, but contiol relinquished In
Oct. 1908, guaranty of bonds being canceled.] Operatcdjln Jan. 1909jDy




82

KAIL WAY STOCKS AND BONDS.

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , A c . , s e e n o tes o n fir s t p a g e ]

Long Island ( C o n . ) — Montauk E xt 5600,000 1st Massu
Unified mortgage gold call at 110..............U s m .c A r
R efund mtge 545,000,000 gold guar p A l .E a .c ’ Ar
L ea sed a n d C o n tr o lled L in e s , P r i n c i p a l o r In te r e s t

L I R R No Sh Br cons M 51,425,000 gu p A I.C c.c*
N Y B A Man V 1st cons M 51,726,000 gold guar.C e
N Y A R ock Beach 1st M 5984,000 guar p A 1___Ce
P P A C I 1st and 2d (596,000 seconds) guar p A 1—
Lorain & West Virginia— 1st M 52,000,000 g old , .c* Ar
Louisiana & Arkansas— Stock 57,000,000 authorizedFirst mortgage 57,000,000 gold (te x t)______ S .c 'A r
Louisiana & North W est RR— Prior Hen, g o ld -----------First mortgage 510,000,000 g o l d . . ..........— AlSt.c*
Louisiana Ry & Nav— First M gold (see t e x t )..F ,c A r
Louisiana Southern— 1st M g red at 105 since ’0 2-C c.c
Louisiana W estern— First mortgage gold ------------Ce.c*

M ile s
R oad

21
316
316

D a te
B onds

1895
1899
1903

Par
V a lu e

5 1 .0 0 0

1,000
500 Ac

G u a r a n te e d .

1,000
1,000
1,000
1,000
1,000
100
1,000
1902
1,000
1895
1,000
1905
1903
1,000
1897
500
1881
1,000
100
100
1896
500
1895
1,000
100
1879
1,000
1880
1,000
1881
1,000
1880
1,000
1880
1,000
1880
1,000
1880
1,000
1881
1,000
1881
1,000
1887
1,000
1888
1,000
1890 1,000 Ac
1,000
1891
1,000
1895
51,000
1881
n; bala nee unde

1892
1885
1887
10 ’8 6 -’91
35 1906

30
19

218
35
115
342
45
106

182
First mtge 52,500,000 g o ld .'--".- . 1 ----------------- G
Louisville & Jeff Bridge— 55,000,000 g gu p A 1en d .c*
Louisville & Nashville— Stock 560,000,000----------------155
E U A N 1st M Hend to Nash g drawn at H O -.C e.c*
803
Louisville A Nashv gen M gold drawn at 1 1 0 .-C e.c*
L C A L exg en mtge gold (V 63, p 1010)---------- G.c*
176
L A N bonds S A N Ala R R 2d M as coll g o ld .U n .c*
192
Pensacola Dlv 1st M gold (drawn at 105)------ F.c*
45
New Orl A Mob Dlv 1st M N O to Mobile g --F .c *
141
141
Second mortgage gold _______________________ c*
Southeastern A St Louis Dlv first mortgage gold .c*
208
208
Second M gold East St Louis to Evansv A b r_ .c*
First M (50-year 5s) 515,000 per mile gold — Us.c*
102
First mtge collateral trust (57,000,000) gold — F.c*
Unified mortgage for 575,000,000 g o ld -.C e .c * A r Text
St Louis property first mtge gold 5650,000— SSt.c
179
Mobile A M ontgomery Joint mortgage gold ------ Ce.c
Pen A A t first m ortgage gold drawn assum ed____c*
160
a In hands of public; total Issued shown In left-hand colum

receiver of W h. & L. E. under an operating contract. Ronds. 52,000,000
authorized. Citizens’ Savings A Trust Co. of Cleveland, trustee. P res.,
H . W . Seaman; Sec. and Treas., J. R . N utt.— (V . 87, p. 1160.)
LOUISIANA & A RK AN SAS R Y .— Owns from H ope, A rk ., to Tioga.
L a.. 188.02 miles; extension from Packton to Jena, 20.64 miles; trackage,
Tioga to Alexandria, L a., 8.18 miles; Tioga to Plnevllle, L a ., 5.02 m ., gives
second entrance to Alexandria; branch Mlnden to Shreveport, 28 m ., co m ­
pleted D ec. 1009; total, 258.86 m. R ock Island Co. uses 36 miles, Packton,
L a ., to Plnevllle, L a., under trackage con tract. F ifty acres for terminal
purposes secured In Shreveport.
S T O C K .— Stock (authorized, 57,000,000; outstanding, 54,500,000;
shares, par, 5100), of which 53,745,000 Is deposited with the Standard Trust
Co. of New York. Voting trustees 10 years; William Buchanan, Edward E.
Porter, BenJ. F. Yoakum , H arvey E . Fisk and Charles L. Pack.
D IV ID E N D .— 1
paid semi-annually since March 1906.
BO N D S.— The unissued first 5s (total limited to 57,000,000) are reserved
for betterm ents, equipment and extensions, of which 51,000;000 reserved
for bridges across Black and R ed rivers, and the balance limited to 520,000
per mile of com pleted railroad. The entire am ount outstanding, but no
part, Is subject to redem ption at 110 and Interest on any Interest date.
Beginning with Sept. 1007 a sinking fund of 555,000 per annum to buy
bonds. If possible, at 110 and Interest or under; otherwise to be Invested.
Bonds so purchased are kept alive In the sinking fund.

A m ount
O u ts ta n d in g

R a te
%

a5315,000
5,660,000
22,408,000
See text

5
4 g
4 g
4

[Vol.

W h en
P a y a b le

J
M
M

A
A
A

j

L a st D iv id e n d
a n d M a tu r ity

Jan 1 1945

s Mch 11949
s Mch 1 1940

10 years

a l . 262,000
5 g
Q— J Oct 1 1932
a l . 601,000
5g
A A o Oct 1 1935
a883,000
5g
M A s Sept 1 1927
436,000
Various 1926-1931
4K
2,000,000
A I) June 1 1956
j
4 g
4,500,000 3 In 1909 Seml-an Sept 16 1909 1 *
4,587,000
M A s Sept 1 1927
5 g
100,000
J A J Jan 1 1945
5g
2,034,000
5 g
A A () Apr 1 1935
8,131,000
A J July 1 1953
4M g J
250,000
M A s Mch 1 1950
5 g
2,240,000
A J July 1 1921
J
6 g
1,500,000
4,000,000
2,500,000
J A J July 1946
5 g
4,500,000
M A s Mch 1 1945
4 g
60,000,000 See text F A A Feb 10 ’ 10 3 H
A D Dec 1 1019
1,300.000
J
6 g
6
C6, 191,000
J A I) June 1 1930
3,258,000
4H g M A N Nov 1 1931
d l , 676,000
A A O Apr 11910
6g
318,000
M A s Mch 1 1920
6g
5,000,000
A J Jan 1 1930
6g
,r
A J Jan 1 1930
1,000,000
j
6 g
,\1 A s Mch 1 1921
3,500,000
6 g
M A s Mch 11980
s3,000,000
3 g
f l , 749,000
M A N May 11937
5g
g4,705,000
M A N N ov 11031
5 g
b58,264,000
4 g
J A J July 1 1940
617,000
5g
M A S Mch 1 1916
4,000,000
4H g M A s Sept 1 1945
IlS 2023,000
F A A Aug 1 1021
6 g
r unified mo rtgage.
b. c, d e. f, g , see foot-

l x x x x

.

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a re P a y a b le

U S Mtge A Tr Co, N Y
do
do
Am Excli Nat B k, N Y
U S Mtge A Trust Co,N Y
do
do
do
do
do
do
City S A T Co, Clev A N Y
Checks mailed
Flslc A R obinson, N Y
B oody, McL A Co, N Y
Treas Office, St Louis
Farmers’ Trust Co, N Y
R W lnthrop A Co, N Y
S P Co, 120 B’w ay, N Y
Louisville, K y
Bk of A m er, N Y A Louis
J P Morgan A Co, N Y
71 B roadw ay, New York
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
St Louis T r Co, St Louis
71 Broadway, New York
71 B roadway, New York
note on next page.

R ep o r te d s e p a r a te ly —
M ile s .
•Nashville Chatt. & St. L ouis___925
•Georgia Railroad system ________ 571
•Louis. Hend. A St. Louis_______ 182
•Chic. Ind. & Louisville_________ 617
Other lines____________________
48
Owned but leased to other co s ___21
Do. Paducah & Mem. D lv _______248
------•See this com pany.
T otal system proper_________ 4,365
T otal of all July 1 1909............ 7,002
In June 1909 acquired all the securities of tho Louisville A A tlantic'
Versailles, K y ., to B eattyvllle J et., 101 m ., and branch, 3 m . V . 89, p. 42.
On O ct. 28 1909 took over the Frankfort A Cincinnati R R ., Frankfort to
Paris, K y ., 40 miles, assuming its 5160,000 4% bonds. V. 89, p. 1223.
D IV S .— / ’92. ’ 93. ’ 94-’98. ’ 99. ’00. ’01-’04. ’05-’07. 1908. ’09. 1910.
S in ce '9 1 % / 4 H 4 None. 3
4 5 y ’ly. 6 y ’ly. Below. 5 J $ F cb .,3 H
In Feb. 1908 paid 3 % In cash and 1% In Louisville Property Co. stock;
In A u g., 2 Y i % cash. V. 86, p. 229, 421. In 1910, F eb ., 3 H % .
B O N D S.— The E v a n s v . H e n d e r . A N a s h v . bonds arc drawn at 110 b y lot
annually In O ct. for paym ent Dec. 1 In amounts Increasing each live years
until 5150,000 per year Is finally reached; In 1909, 575,000.
The P e n s a c o l a D i v i s i o n bonds are; 520,000 in 1909 subject to a drawing
sinking fund 510,000 In 1907 and Increasing later. V . 81, p. 265, 726.
The g e n e r a l m o r t g a g e bonds of 1880 are called at 110 In Increasing am ounts
N e t (a fte r
O th e r
D e ilu c B a la n c e ,
F iv e
G ross
each year; 5450,000 were paid June 1 1909. V. 88, p. 883.
T a x e s ).
In com e.
lio n s.
S u r p lu s .
M o n th s — E a rn in g s.
Tn June 1890 the " u n i f i e d ” m o r t g a g e (trustee, Central Trust Co.) for 575,
5200,031
542,445
5124,477
5118,019
1009 ______ 5536,818
000,000 was authorized, 541,917,660 bonds being reserved to retire all prior
109,062
24,454
94,984
38,532 liens (none of the prior liens can be extended), the balance for Im prove­
1008 ............ 467,305
ments, extensions (at the rate of 532,000 per mile, Including equipm ent),
R E P O R T .— For year ending June 30 1909, In V . 89, p. 717, 729.
and for other purposes. The m ortgage covers (besides 1,994 miles or
Y ear.
M ile s .
G ross.
N et.
O th . I n c . C h g s A c . D iv id e n d s . B a la n c e .
road and equipm ent), 510,093,300 stock of companies controlled and 53,­
1 908-09..226 51.186,400 5360,629 549,309 5205,298 5112,500 502,140
150,000 bonds free from any lien. See abstract of m ortgage In V . 51, p.
1907-08.-226 1,144,521
338,878 43,636 197,965
112,500 72,049
613; also V. 72, p. 1034, 1188; V. 77, p. 968. In Aug. 1909 com pany re­
Pres., W m . Buchanan, Texarkana, A rk.— (V . 89, p. 717, 729, 1280.)
ported 561,911,000 outstanding, of which 52,742,000 In treasury and 5390,­
LOUISIANA & NORTH WEST RR.— Owns Magnolia, A rk ., to N atchi­ 000 In sink, funds. V. 81, p. 1848; V. 86, p. 1344: V. 88, p. 295.
toches, La., 114.7 miles; trackage. Magnolia to McNeil, 6.4 miles.
M o b i l e A M o n t g o m e r y — L o u i s v i l l e A N a s h v i l l e j o i n t m o r t g a g e Is for 55,000,­
Stock, 510,000,000 authorized, of which 52,300,000 outstanding; par,
000; 51,000,000 reserved for Im provem ents. V. 61, p. 190, 750.
5100. Car trusts Sept. 1909, 52,500. Of 1st 5s o f 1905 (510,000,000 au­
K e n t u c k y C e n t r a l mtge. abstract V . 45, p. 372.
South A North Alabama
thorized Issue), 5150,000 Is reserved to retire the old bonds and 5116,000 Im provem ent 5s, due A ug. 1 1936, 51,920,000 authorized,
are owned.
for Improvements, equipm ent, &c. V . 82, p. 628; V . 85, p . 1462. Pres,
L o u i s v i l l e A N a s h v i l l e T e r m i n a l 4s.— Jointly guaranteed, prin. and int.,
and T reas., Geo. W . Hunter, St. Louis; V .-P ., John Jay Nelson, Hom er
b y L. A N. and Nashv. Ch. & St. L. See form , V. 88, p. 1313.
L a.; S ec., John A . Richardson, H om er, La.— (V . 85, p. 1462.)
In 1902 the Louisville & Nashville and the Southern R y . acquired 59,796,­
LOUISIANA RY. & NAVIGATION CO.— Owns New Orleans to Shreve­ 900 of the 510,500,000 Chic. Indianapolis * Loulsv. com . and 53,873,400 of
port, L a ., 305.6 m .; Colfax to W infield, 28 m .; Alexandria to Jena, 8J^ m .; the 55,000,000 pref. stock In exchange for their Joint 50-ycar 4 % bonds. V .
Plnevllle to Ems, 7 m. Stock auth., 512,000,000; outst’g June 30 1908, 58,­ 74, p.1138; V .76, p.593. Of the 515,500,000 Joint bonds secured b y deposit
131,000; par, 5100. First m tge. bonds (see table above) are limited to of this stock, 51,563,000 are reserved to a c q u ir e the remaining "M o n o n ”
517,500,000 total Issue and 523,000 per mile; 5300,000 has also been Issued stock and 52,110,000 for “ M onon” lm pr’ ts, A c., 5500.000 yearly.
for a bridge over the R ed R iver at Alexandria; 54,000,000 Is reserved for
The Atlanta Knoxville A Cincinnati division 4s (550,000.000 authorized)
New Orleans terminals. There are also 52,414,000 2d 50-yr. 4 ^ s due 1957 cover 726 miles. Of the bonds, an equal amount will be reserved to retire
(authorized Issue 510,000,000.) See V. 77, p. 36, 769.
at m aturity underlying bonds, viz., Kentucky Central 4s, 56,742,000 A tlan­
ta K n oxv. A North, bonds, 51,500,000. The line from Livingston to Jelllco,
E A R N IN G S — 5 m o s.,/1 9 0 9 ___________ Gross, 5560,035; net, 5108,969
61 miles, Is subject to prior lien of unified m tge. V. 80, p. 872: V. 84, p. 1428.
July 1 to N ov. 30. J1908___________ Gross, 405,780; net,
5,865
In July 1909 521,702,000 had been Issued, of which 510,245,000 sold.
F or year end. June 30 ’09, gross, 51.106,085; net, 579,006; taxes, 542,770.
F IN A N C E S .— Permanent Improvements charged to incom e account
P res., W m . Edenborn, Hibernia B ldg., New Orleans; Sec. and A ud., H .
In 1908-1909 5866,547; In 1007-1008, 51,600,468. In February 1910
B. Helm; Treas., Clarence Ellcrbe, Shreveport, La.— (V. 84, p. 390, 450.)
dlvs. on Nashv. Chatt. A St. L. stock, 57,177,600 owned (reduced to 5%
LOUISIANA SOUTHERN R Y .— See this section for July 1905.
In A ug. 1908) were restored to 6 % .
In A ug. 1908 the L. A N dividend rate was reduced from 6% to 5%
LOUISIANA WESTERN RR.— (See M a p o f S o u t h e r n P a c i f i c . ) . — Owns
from Lafayette, La., to Sabine River, 105 miles; Abbeville to Eunice, 59 m .; but restored to 6 % in Aug. 1909 and lncfeased to 7% In Feb. 1910.
Mallard Jet. to Lake Arthur, 34 m .; total, 198 miles. Operated Independ­
In Jan. 1909 529.864,000 bonds securing the 523,000,000 5-20-year collat.
ently. Southern Pacific owns all the 53,360,000 stock. Dividend on
trust bonds were sold, the latter being paid oil April 1 1909 anil provision
stock In 1905-06 and 1906-07, 10% ; in 1907-08, 8 5% ; and In 1908-09, 2 0 % . being made to retire the 56,500,000 3-year notes at their m aturity Mch. 1
In year 1908-09, gross, 51,967,311; net Income, 5911,342; surplus over
1910.
V. 88, p. 295, 452. 1253.
Charges, 5709,038.— (V. 74, p. 268.)
E A R N IN G S.— 5 m os., /1 9 0 9 .............G r o s s , 521,358,439; net,58.676,035
LOUISV. & ATLAN TIC .— Sold to Lou. & Nash. In 1900.— (V . 89, p. 42.)
July 1 to N ov. 30.
(1908_________Gross, 19,471,617; net, 6,988,456
R E P O R T .— R eport for 1908-09, In V . 89, p. 911, 926; see also p. 889.
LOUISVILLE BRIDGE CO. — Owns bridge 5,294 feet long over Ohio R lv.
at Louisville, K y ., and about 2 miles track In Louisville. Used by P. C. C. Comparison with 1906-07 Inaccurate, owing to changes In accounting.
A St. L. B y., Loulsv. & N ashv., A c. Surp. earns, revert to roads using b r’g.
Y e a r e n d i n g J u n e 30—
1909.
1908.
1907.
STOCK Is 51,500,000; Penn. Co. owned Jan. 1 1909, 5900,300. Dlvs. Average m ileage__________
4,303
4,347
4,306
Since 1902: 1903, 13% (V . 79, p. 2747; V . 78, p. 102); 1904, 4 % ; 1905, 6 % ; Freight earnings....... ..............................532,465,909 531,334,041 535,235,787
1906, 7 % ; 1907, 8 % ; 1908, 16% . For year ending Dec. 31 1008, gross, Passengers _______________
. . . 10,062,535 10,590,948 10,417,470
5249,654; net, 5103,944; other Income, 5191,460; charges, 549,994; dlvs. Mall, express, A c....... ............................
2,897,387
2,094,392
2,610,688
(1 6 % ), 5240,000; bal., sur., 55,410.— (V . 86, p. 285.)
Gross ea rnings. ..............................5 4 5 ,4 2 5 ,8 9 1 544,620,281 548,263,945
LOUISVILLE HENDERSON & ST. LOUIS R Y — R O A D .— Louisville
to Henderson, K y ., 144 miles (lncl. 6 m. trackage); Irvington to Fordsvllle, Operating e x p e n s e s ............................... 29,627,409 33,504,291 35,781,302
K y ., 44 miles; Mitchell to H artford, K y ., 18 miles; L. & N. trackage, H en­
derson, K y ., to Evansville, In d ., 12 m .; total, 218 m. Lou. & Nash. In Net e a rn in g s........................................... 515,798,302 511,025,990 512,482,643
1904-05 acquired 5776,081 pref. and 51,631,385 com . stock. V . 8 1 , p.1100.
N et, lncl. investments, A c................... 17,117,961 12,346,058 14,044,398
1,437,992
1,393,760
1,208,611
E A R N IN G S.— 5 m o s.,/1 9 0 9 ..................... Gross, 5496,916; net, 5143,145 T a x e s ......... ..........................
Interest and r e n t . .............
6,416,329
0,236,187
0,091,241
July 1 to N ov. 30. 11908____________ Gross, 430,500; net, 136,398
411,403
c r . 50,007
52,940
In 1907-08, gross, 5992,652; net Incom e, 5204,214; Im provem ents, 512,­ Advances to S. A N. A ., A c...................
264,302
251,792
241,084
669; Int., taxes, A c., S241.597; bal., d c f., 550,053. In 1908-09, gross, Sinking fund p a ym en ts.......................
860,547
1,600,468 (In o p .c x p .)
51,023,736; net, 5267,386. Pres., Lucien J. Irwin.— (V . 85, p. 1575; A dditions and betterm ents...................
Dividends.................... ..................... (5 H )3 ,300,000(5 K ) 3 ,300,000 (6)3,600,000
V . 89, p. 666.)

LOUISVILLE & JEFFERSONVILLE BRIDGE CO.— One-half mile long;
approaches one mile; 40 acres In Louisville anti 100 acres In Jcirersonvllle.
S tock, 51,425,000; mtge. Is for 55,000,000; bonds for 5500,000 are reserved
fo r future construction, A c.; the bonds are guaranteed by the Ches. & Ohio
and Clev. C. C. A St. L. roads, In whose Interests the stock Is owned. See
V . 61, p. 559.— (V . 89, p. 529.)
LOUISVILLE & NASHVILLE RR. — ( S e e M a p . ) — R O A D .— Operates
main line from Cincinnati, 0 . , to New Orleans, L a., 921 miles; with branches
to St. Louis, M o., Memphis, T enn ., A c., 3,477 miles, making total system
proper, June 30 1909, 4,398 miles.
C o n t r o l b y A t l a n t i c C o a s t L i n e .— Late In 1902 the A tlantic Coast Line R R .
acquired 530,600.000 of the 560,000,000 stock, but the roads are operated
Independently. V . 74, p. 830, 1038; V . 75, p. 733, 1399.




L in e s o w n ed a b s o lu te ly o r th ro u g h
c a p ita l s lo c k —
M ile s .

Louisville to Nashville_____ ______181
Sundry other lines--------------------- 3,176
L i n e s l e a s e d , A c .—
•South. & N orth. Ala. R R _______193
Other lines_______________________ 625
Operated for other com panies___222

Surplus over d iv id e n d s .......................s r .54,421,3 8 8 d f.5475,544sr.52,850,522
O F F IC E R S .— Chairman, Henry W alters, N. Y .; Pres., M. H . Sm ith,
Louisville, 1st V .-P , W . L. Mapother; 2d V .-P ., A . W . Morrlss. 71 B ’way,
N. Y .— (V . 89, p. 919, 926, 1141. 1223, 1597; V . 90, p. 110, 167.)
LYKENS VALLEY RR, & COAL CO.— Owns from Mlllersburg, P a ., to
Wllllam8town, P a., 20 miles. Lease to Northern Central Is terminable on
60 d a y’s notice. R ental, 535,000 per annum .— (V . 64, p. 330.)

A1ACON & BIRMINGHAM RY.— Owns Sofkeo Jet. to La Grange, Ga.,
97 miles; trackage, Sofkee to Macon, Ga., 8 miles. V. 78, p. 684. On
Feb. 3 1908 S. F. Parrott was appointed receiver. V. 86, p. 337,
In year 1007-08, gross, 5146.882; op. dcf., 517,757; Int., taxes and rentals.
539.223; bal,, def., 556,980.— (V. 86. p. 337.)

.UTH

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84

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., s e e n o tes o n fir s t p a g e]

M ile s
R oad

10
( C o n ) — Hend Br Co 1st M g d r 1 0 5 ..C e.c*
105
Nashv Flor & Shed 1st M g assumed In 1 0 0 0 . . -C e.c
254
Paducah & Mem dlv 1st M, $5,000,000 g old-----------192
■ Sou & N or Alabam a 2d M gold sink fd $2,000,000
192
;
Consol m ortgage (for $10,000,000) gold g u .-C e .c *
Newp & Cln Br 1st M g s f assum gu b y Penn C o ..F
40
j Frankfort & Cincinnati 1st M a ssu m ed ............ — - ­
L & N -So j ’ t M $7,750,000 red 105 since ’ 07-S .c*& r
247
I* Kentucky Central 1st M ($7,000,000) gold --M p .c *
228
Atlanta Knoxville & Northern first m tge g o ld — Le
228
i.
Consolidated m ortgage gold $10,000 per m ile .. Us
726
I L & N— A tl K n ox & C Dlv M $50,000,000. U s.c*& r
L & N Term M $3,000,000 gold guar join tly.-A la c*
psf'Notes being paid on presentation(V 90, p 110)-----Louisville New Albany & Chicago— See Chicago India napoll
19
Lykens Valley— Stock. Rental pays 5 % ..........
97
93
Macon Dublin & Sav— 1st M $1,840,000 g gu p & l. N.c*
Maine Central— Stock and scrip ($12,000,000)..........- First consolidated mort-\ ($269,500 are 5s)-------- c&r 1 304
gage, $9.000,000____ J ($3,265,500 are 4s)----- c&r r
41
Collateral trust bonds for Mt Desert B ra n ch ..A B .c
Im provem ent bonds “ A ” & " B ” not m ortgage s f . .
56
Maine Central Eur & N o Am refunding m tge g o l d ..
Notes $2,000.000--------------- ---------------- --------------------48
First m tge Penobscot Shore Line R R Co a ssu m ed ..
48
K & L second mtge (for $400,000) assumed ..B B
120
European & Nor Amer stock 5 % rental 999 years. .
109
Portland & Ogdensburg stock (2% rental 999 years)
109
First m ortgage guaranteed prln and lnt endorsed
Portland Union Station series “ A ” & *‘ B ” (text) s f
17
Dexter & Piscataquis stock 5% rental 999 y e a r s ...
17
First m tge Dexter to Dover & cguar by en d — BB
53
Hereford R y stock (rental 999 years)...........................
53
First m ortgage guaranteed prln & lnt (endorsed).
55
Upper Coos R R stock 6% rental 999 years
22
. lrst m ortgage guaranteed
prln & lnt (endorsed).
.............................
FI
33
E xtension M $21,000 p m guaranteed p & 1 (end)
See
0. k $1

Lou(& N

D a te
B onds

1881
1887
1896
1880
1886
1895
1899
1902
1887
1896
1902
1905
1902
1907
s & Lo
1896
1907

/ 1872
( 1872

1883
’8 6 -’87
1893
1909
1890
1891
1908
’8 7 -’89
1889
1890
1890
1890
text.

00.000

Par
V a lu e

Y e a r en d in g
1909.
Y e a r en d in g
1909.
1908.
J u n e 30—
$
J u n e 30—
$
..5
Gross ea rn in g s..8,337,724 8,514,2o6 I n t e r e s t .............. 665,106
N et earnings___2,207,518 2,205,517 R e n t s .................. 900,619
Other Incom e___
61,919
63,223 Dividends (8 % ). 398,152
76,423
Hlre of equlp’t . .
13,440
N et Incom e___2,269,437 2,276,974 Slnklng fun d___
A dditions, & c_. 113,733

1908.
$

655,095
896,780
398,144
100,836
13,440
194,078

Ufllfincn Riirnlus
101,964
10,366
- ( V . 86, p . 229P,1 2 8 '5 V v : 87 , p . 675. 932: V . 88. p. 686; V . 89. p. 842.)
MANCHESTER & LAW RENCE R R .— Owns from Manchester N. 11 to
Methuen (State L ine), 22 X miles. Leased for 50 years from Sept. 1 1887 to
Boston & Maine at rental paying 10% dlv. In 1895 a dlv. of 50% paid from
proceeds of C. & M. suit. -(V . 73. p. 1264.)
MANHATTAN R Y . (E l E V 4 T E D ). — ( S e e M a p I n t e r b o r o u n h R a p i d T r a n ­
s i t C o ) —Owns all the elevated railroads In boroughs of Manhattan and the
Bronx N Y City, main line and branches, 37)4 miles, double-tracked, with
24 miles additional third track, sidings, &o ; total track. 118 miles; 3d rail
electrlo. V . 70, p. 176, 633; V. 75, p. 733.
L E A S E .— The Interborough Rapid Transit Co. leases the road for 999
pats from N ov 1 1875. guaranteeing 7% per annum on the stock. V .75,p.
2 0 ? 1302. V 76 p . I i 2; V . 79, p. 2456; also Interborough Rapid Transit
C o . . V . 76’, p’. 101. Guaranty, V . 76, p. 480.
BON D S. — C o n s o l i d a t e d m o r t g a g e (trustee. Central Trust Co.) Is limited on
present mileage to $ 4 0 ,0 0 0 ,0 0 0 . and provided for prior bonds when due.
A m ounts beyond $40,000,000 m ay be Issued for extensions at the rate o f
$30 o ! ooO per mile o f single and $ 6 0 0 , 0 0 0 per mile o f double track
Of

f

» . % ? % “ ' v; ?«• . m / “ •p'

T o May 1898 claims aggregating $8,847,854 had been paid as damages to
abutting property and other cases were before the courts. Taxes In liti­
gation Oct 1907 (other than franchise ta x ), per balance sheet, $19,866.
$ 8 5 p 1339
In Jan. 1907 franchise taxes for 1900 to 1905 ($3,170,142)
were paid and in 1909 those for ’ 06 to ’08 ($1,706,403). V . 89, p. 42.
D IV ID E N D S.-— 1 ’ 89. ’9 0 -9 6 . ’97. ’98. ’99. ’00. 01. '02. ’03. Since.
Since 1 8 8 8 % /5)4 6 y’rly. 4)4
4
4 4
4 1
7 « 7 % , ’rly
V p d T p n d i n n .T u tip 30—
—
1909*
1908.
1906.
G ross L r n in Kg
$ 1 3 ,8 5 8 ,0 7 9 $14 ,038,761 $ 1 2 ,7 9 4 ,7 2 0
N et OVCar operating expenses................. 7,658,250
7,739.379
7.372.006

? n ?e re s rre n ta ls 'and taxes
3,3731656
3,34 g !o07
3,181 i.554
Dividends . . . . _ _ . . . 11 I I I - - - (7)4,200,000 (7)4,200,000 (7)3.864.000
Surplus r f after dividends---------->559.914
$649,885
$689,760
__ (V . 86, p. 1467, 1589; V . 87, p. 37, 285, 1301: V . 89, p. 42, 1280.)
M A N ILA R Y . (1906) L t d — O R G A N IZ A T IO N .— T o own (per plan
V . 83, p. 1470) practically all the bonds and shares Issued by the Manila
R R . o f New Jersey. The latter will build about 420 miles o f road on the
Island o f Luzon, Philippine Islands (V. 83, p. 1348), and take over the pres­
ent system , 208 miles, operated b y the Manila R y. (old C o,), total to be
652 miles. Incorporated under laws o f Great Britain, Speyer & Co. and
others are furthering the enterprise. Construction was begun In Mar. 1007.
Concession amended May 1909. V . 88, p. 1313.
S T O C K .— Ordinary shares authorized, £2,000,000; 5% non-cum . prefer-




A m ount
O u ts ta n d in g

R a te

%

$1,000 k $ l ,177,000
6 g
1,996,000
1,000
5 g
1,000 r4 ,619,000
4 g
1,000 Own L & N
0 g
7,292,000
1,000
5 g
1,400,000
1,000
4H g
4
160,000
100 &c
4 g
1,000 &c n5,882,500
1,000 j6,705,000
4 g
999,000
1,000
5 g
500,000
4 g
1,000
4 g
1,000 &c Z10,245,000
2,500,000
1,000
4 g
3,780,000
1,000 &c
5 g
ulsvllle.
600,000 5 In 1909
20
500,000
1,000
5 g
1,240,000
1,000
5 g
4,995,700 8 in 1909
100
5 &7
4,193,500
100 &c
4,790,500 4 & 4)*
100 &c
669,000
5
1,000
1,000
450,000
4)4
1,000,000
1,000
4 g
4
2,000,000
1,000 Ac
4
1,300,000
1,000
400,000
5
1,000
2,494,100
5
100
2
4,392,538
100
4)4
2,119 000
1,000
4
300,000
1,000
122,000
5
100
4
1,000
175,000
4
800.000
100
4
800,000
1,000
350,000
6
100
4
500 &c
350,000
500 &c
693,000
4)4
Artd’l am ts. owned b y Co. No
n$31,000 r$217 ,000 s $2,000

MACON DUBLIN & SAVANNAH R R —Owns road from Macon to VIdalla, Ga.. 93 miles. Stock. $3,200,000 auth.: outstanding, $2,040,000
(par $100), substantially all owned or under option by Seaboard Air Line
Ry , which guarantees bonds, prln. and Interest. V. 89, p. 43. or tne
bonds, $600,000 are reserved for Improvements and betterments. V. 84,
D . 102, 450.
For year ending June 30 1909, gross, $334,562; net, $64,217;
other Inc., $1,760; lnt., rentals, &c., $75,382. Pres., Homer Lorlng, Bos­
ton, Mass.— (V. 86, p. 981.)
MAINE CENTRAL RR.— Line of road. Portland to Vanceboro, M e v i a
Augusta, 251 miles; branches. Cumberland Jet. to Skowhegan, via Lewiston,
91 m.; Bath to Lewiston and Farmington, 76 m.; Belfast, I<oxcroft, Bucksmortand Mt. Desert, Including ferry (7.7m.), 132 m ; Port and & Ogdensb g
Ry.,Portland. Me.,to Lunenberg.Vt., 109 m.jsmall br., 11 m.; Upper Coos
and Hereford railways, Quebec Jet., N. II., t° Lime FMdff6. Qixcbec. 108 m.,
Portland & Rumford Falls system, 104 m.; Bath to Rockland (Including
steam ferry, 6-10 m.). 49 m.; total, June 30 1909, 932 miles, of which 400
owned, 499 operated under 999-year leases and practically owned, 33 m.
under 50-year leases and 8 m. ferry lines.
In Jan. 1904 the entire stock of the Washington County Ry., 139 miles,
was purchased, Its 3H% bonds (see table above)'being: guar, prln.and lnt.,
by end.; but road Is oper. separately. V. 78, p. 103, 820, 989, V. 79, p.2640.
In April 1907 control of Somerset Ry., Oakland to Klneo Station, Me.,
and branch, total. 94 miles, was acquired. V. 84, p. 804, 1183. The Port­
land & Rumford Falls RR. (which see) was taken over under 999-year lease
In April 1007. V. 84, p. 868, 931.
STOCK.—Stock for $2,516,000 owned by Boston & Maine. V. 72, p. 988.
DIVIDENDS.— 1884 to July 1903, 6% yearly; Oct. 1903 to July 1907.
7 % ; Oct., 1907, to Jan. 1910, 8% yearly (Q.-J.).
BONDS —There are also $81,000 Maine Shore Line 6s assumed, due 1923:
also $80,500 Belfast & Moosehead Lake mtge. bonds, due 1920, not guar­
anteed, Interest and sinking fund paid out of reatal; And. & Ken. stock
bonds, $11,000, exchangeable for M. C. stock; Maine Central Interest scrip
exchangeable for consol, bonds, $8,192. Jointly with B. & M. guarantees
$300 000 Portland Union Station bonds.
,,,„
In May 1008 $2,119,000 Portland & Ogdensburg 20-year 4)4% guar­
anteed bonds, dated Nov. 2 1908 were sold to refund the bonds maturing
Nov. 1 1908. V. 86. p. 1285. In 1909 sold $2,000,000 4% 5-year deben­
ture notes dated Apr. 1 1909. V. 88, p. 686.
EARNINGS.— 5 mos., (1909..........Gross, $4,007,329; net, $1,484,148
July 1 to Nov. 30.
\1908..........Gross, 3,722,982; net, l,221,3o7
ANNUAL REPORT.—Report for 1908-09 was In V. 89, p. 842

15!

[VOL.

RAILWAY STOCKS AND BONDS.
W h en
P a y a b le

&
&
&
&
&

M
F

F

A
F
J
J

S Sept 1 1931
A A ug 11937
A Feb 1 1946
O Apr 1 1910
A Aug 1 1936
J July 1 1945
J Jan 1 1923
July 1 1952
J July 1 1987
D Dec 1 1946
S Mch 1 2002
N May 1 1955
D Dec 1 1952
S Mch 1 1910

&

&
P
&
J &
M &
M &
J &
M &

J

J

J

L a st D iv id e n d
a n d M a tu r ity

LXXXX.

P la c e s W h e r e I n te r e s t a n d
D iv id e n d s a re P a y a b le

71 Broadway,, New York
do
do
do
do
do
do
do
do
do
do
J P Morgan & Co, N Y
71 Broadway , New York
do
do
do
do
do
do

3— J Jan 1 1910 1 y, Office. 13 William St,N Y
N o coupons ever paid
& J July 1 1946
New York Trust Co, N Y
& J Jan 1 1947

1 1910 2% Office. Portland, Me
N Y , Boston & Portland
do
do
American Trust, Boston
N Y , Boston & Portland
do
do
do
do
do
do
do
do
Treas. office,B angor,M e.
Maine Cent OH, Portland
N Y , Boston & Portland
F idelity Tr Co, Portland
O ffice, D over, Me
Bos Safe Dep & T r Co
Treas. office, Portland
N Y , Boston & Portland
Office, Portland, Me
N Y , Boston & Portland
do
do
V
1909, viz.: c$21,000. d $244,000. e $7,000.
Z$ll,4 57 , 000. P C oupon sJ & J : reg Q-J
)

J

Ja

& Ol 1Apr 1 1912
& o f /A p r 1 1912
J & D June 1 1923
& J July 1916-1917
J
J & J Jan 1 1933
Q —J April 1 1914
F & A Aug 1 1920
F & A Feb 1 1921
A & O Oct 15 1909 2)4
Q-- F 28 N o v 30 '09, )4%
M & N N ov 1 1928
J & J July 27-Jan 29
J & J Jan 1910 2 )4 %
J & J July 1 1929
2%
M & N N ov 1909
M & N May 1 1930
3%
M & N N ov 1909
\1 & N May 1 1930
M & N May 1 1930
A
A

Idatlon, £2,000,000,
all o f ElO each. *Of ordinary shares, £1,600,730 Is reserved for the new Co.
D E B E N T U R E S .— The “ A ” and " B ” 4 % debenture bonds are secured b y
the same trust deed and are a first and second charge, r^P®®Bvely. The
" A ” debentures are subject to call after 1925 a t lOo. D enonfinatlonaof
debentures, £20, £50, £100 and £200. Total Issuable on 652 miles, under
supplemental trust deed of May 1909, £2 ,0 0 0 , 0 0 0 each of ’ A and B
debentures, of which there are now Issued £1,800,000 A and £1,830,000
" B , " with power, b y resolution of the debenture bond and stockholders of
that class, to Increase the limit of each of the Issues to £2,250,000. V . 86,
p. 337; V . 87, p. 166: V . 88, p. 1197.
H . L. Higgins Is Pres, and Gen. Mgr. of the A m . C o.— (V . 88, p. 1313.)
AIANISTEE & GRAND R A P ID S R R — See page 173.
MANISTEE & NORTHEASTERN R R .— Owns (ram Manistee, M ich., to
Traverse City, 71 m .; Solon to Provem ont, 15 m .; Platte R iver to Empire
Jet., 17 m .; other, 62 m .; total. 165 m. S tock, $2,000,000, o u t-> * 5n2n5n,^®®‘
Of the bonds ($1.500,000 a u th .), $ 1 ,225,000 are o u t s t a n d i n g , ^
ture Jan. 1 yearly from 1912 to 1938, the remaining $275,000 being reserved
fo r extensions and im rpovem ents, the latter a t not mo re than $100,000
yearly at not over 80% of cost. Sinking fund of ^0% of sumlus Income,
beginning July 1 1 9 1 0 , is to be used to call bonds b y lot at 102M and Interest
until $1,000,000 have been canceled. V . 88, p. 375, 823
t o r 9 mos. end­
ing Sept. 30 1909, gross, $355,147; net after taxes, >88,415; nt. on bonds
outstanding Oct. 1 1909, $39,435; b a l„ sur
$48,977. Cal. year 1908.
gross, $430,252; net after taxes, $105,809; lnt. on unfunded debt, $86,364;
betterments and additions, $14,504; bal., sur., $4,940. Pres., L dw . B uck­
ley, Manistee, Mich.— (V . 80, p. 1542.)
MANISTIQUE & LA K E SU PE R IO R .— See page 173.
A1ANITOU & P IK E ’ S P E A K R Y — See page 173.
MARIETTA COLUMBUS & CLEVELAND RR. - R e c e i v e r discharged
Sept. 1909, com pany resuming possession. V . 89, p. 59J, 154Z.
MARSHALL & EAST TEXAS RY.— See page 173.
MARYLAND DELAWARE & VIRGINIA RY.— See page 173.
MARYLAND & PENNSYLVANIA,RR - B a lt im o r e , M d.. to Y ork. P a ..
80 miles, with branch, Delta to Peach B ottom , 4 m. V. 72, p. 339.
STOCK A N D BON DS.— Stock authorized, $3,600,000, of which $1,097,­
500 reserved for future requirements. In 1902 the authorized Issue of the
t a t ” ™ - r e d u c e d R o m ^2,700,000 to >1.200.000 of which $203 000 are
reserved to retire the York and Peach B ottom 5s £Ud $100.000 addi­
tional for future purposes. &c. V . 7 4 , p . 04. 427 V . 79, p . 2205. Mary
land & Pennsylvania Terminal guaranteed b on d s, V . 82. P -1 0 4 1 , 1102.
Equipment notes Dec. 31 1908. $35,000. Paid on Incomes 1901, 3 /o , since
to 1909, Inclusive, 4 % yearly.
...........
i? APMTNfl5?
5 m os. (1900___________ Gross, $182,675; net, $62,255
Ju?y l to N ov. 30. ' { l 0 0 8 l __________Gross.
170,265; net.
55,121
ft F P O R T For year ending Deo. 31 1908, gross, $367,033; net, $103,441;
IntREo n ° b o I d s . &cy ? $83,765) bal. sur.. $19,676. Pres.. John W ilson
Brown.— (V . 86. p. 421; V . 88. p. 506.)
. tnw r iT V He FT DODGE RR.— ( S e e M a p C h i c a g o C r e a t W e s t e r n . ) —
Owns road Rom Oelwein la to Council Bluffs, 260 miles; HayfleId, Minn.,
to c!arlSn Iowa, 100 miles; branches to Lehigh and Coalville. Iowa,
19 m lies*trackage Council Bluffs to South Omaha, 8 miles: total, 387 miles.
T hfiC hfcago Great Western owns entire outstanding com . stock ($13,205,­
4 0 0 of the auth. $20,000,000) and the non-cum . 4 % pref. stock ($13,035,752
n t thp si 4 000 000 a u th .), and operates the road as part of Its main line to
n^maha under a 1 0 0 -year agrcement dated April 1 1901. and later m odified,
fhT xr p U& Ft D receiving 60% o f all earnings from business Interchanged.
Anv suimlus o f net earnings after -payment o f Interest on bonds and pref
.
held In trust b y C. G. W . for paym ent of future coupons.

M p A D M m r s V ' i 2 mos 1 1 9 0 8 -0 9 .1 ----G ross, $1,919,966; net, $571,472
im v 1 to T ^ e 3 ?
11907-08 ______ Gross. 1 .796.144; net, 593.756
RoJnnrt for
1906-07 In V . 85, p. 1030. In 1907-08, gross, $1,796,144;
n e t * * ® . ^ r c h a l - g e s 6. °$640,577; bSl.. d ef.. $ 4 6 .2 2 5 .- ( V . 88 p. 1437.)
u i c c a u / i d d i v A I I EY RY. — Province Line to Lenoxvllle, Que., 34
miiM SJ lth branch 3 m ^ tra ck ag e to Sherbrooke, Que., 3 m .; total, 40 m.
o M v S l r s from July 1 1870 to the Connecticut & Passumpslo
Leased for 0 9 9 W00?000: par o f shares. $100: dividends payable ? e b .
?n dT u g l'
Dividends, form erly 5 % , 6% since Jan. 1 ’ 97. Of the stock
XAnnnnn’ owned b y the Conn. & Pass. River Is deposited under Its mtge. and
S5 0 °boo°ls represented b y Connecticut Trust & Safe Deposit Co. o f Hartford
5 % '^ ru st certificates. (See "Supplem ent” o f O ctober 1901.)
MrCl OIJD RIVER RR. — Owns from Sisson, C al., to McGavlo, 50.6 miles.
S to c k $1 2 0 0 000.
Bonds ($1,200,000 a u th .). Mercantile Trust C o.. San

James Flood Bldg.. San Francisco, Cal.— (V. 8o, p. 100o.)
M P & n v n I P CONNEAUT LA K E & L IN E S V IL L E .— Meadvllle to
L lnesvllle,P a .,2 0 .5 m iles,and branches, V ^ T le^ E rte^ R R 1•' rental' 2 5 9 ? o l
to June 8 1090 to Pittsburgh Bessemer & Lake Erie R R .. rental, z a y 0 of
gross earnings. Stock, $200,000; par, $o0.
u r n n i n e iiMinM q t a t i o n CO — T o own union passenger station at

■ f n ^ o r r .r i r r f n S . " . r . c a
s
Trust Co of N Y as trustee, to secure an issue of $3,000,000 >9-yr. 4%
gold bonds” of which $2,000,000 Is pledged
ve)
V 89 p M l l
2-yr 5% notes, which have been sold (see table a b o v e ). v . « « , p. 1 4 1 1 ,
V go p° 236
Construction of the station was begun In Dec. 1909. V . 89,
p.' 1542.— (V . 90, p. 236.)

JAN., 1910 ]

85

RAILWAY STOCKS AND BONDS.

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., s e e n o te s o n fir s t p a g e]

M ile s
R oad,

D a te
B onds

Par
V a lu e

$100
14
Maine Central ( C o n c l )— Dexter f t Newport stock 5% _
1,000
14 1897
First M (old 6s refunded In 1897) guar p& 1 end c*
100
19
Eastern Maine stock 4 M % rental 999 years_______
1,000
Wash Co 1st M $20,000 p m gold guar (end) redeem
139 1904
1,000
1907
Somerset R y notes $1,500,000 guar prln <& ln t-----Portland f t R um ford Falls R R — See that com pany
100
Manchester & Lawrence— Stk 10% rent till '37 B f t M
1,000
1892
Real estate bonds (not mortgage) lnt gu b y B & M .c
100
37
Manhattan (Elevated) R y, N Y— Stock $60,000,000-1,000
32 1886
N Y Elev debentures secured b y cons m tge of 1 89 0 ..
37 1890 1,000 &c
Manhattan Elev oons (now 1st) mtge gold . .C c.c*& r
1909
Manistiquc & Lake Sup— Inc M 4% n-c $1,300,000 au
1,000
Manist & N E— 1st M g due part y ’ly red text. .A C ,c* 1,666 1909
1,000
9 1908
Manitou & Pike’ s Peak R y— 1st M $500,000 g — Fc.
1,000
44 1890
Marietta Columbus & Clcve—-First M $250,000 g — K
1,000
71 1905
Aid Dei & Va— 1st M $2,000,000 auth gold guar p & 1
50 &c
40 1882
Maryland & Pennsylvania— York f t Peach B ottom M
1,000
80 1901
First mortgage $1,200,000 gold call at 105-M cBa.c*
1,000
80 1901
Incom e mortgage $900,000 4% cum call at par.AWia
1,000
1906
Maryland & Pa Ter 1st M $200,000 g gu p f t 1 red 110
1,000
378 1905
Mason City & Ft D odge— 1st M $12,000,000 g.C c.c& r
100
37
M assawippi— Stock guar same dlv as Conn & Pass —
1,000
1907
McCloud River— First mortgage $1,200,000..................
1,000
22 1891
Mcadvillc Conncaut Lake & Linesville— First m tge—
1,000
1909
Memphis Un Sta— Coll notes red beg May 1910--------1905 1,000 &c
Meridian Terminal— First mtge $250,000 g g u .S c*&r
Mexican Central— See National Railways of Mexico
1100 &c
615 1897
Mcx lnt— Prior lien II ,200,000 red at p ar.U n .xc*& r
$500 &c
First cons M $16,000,000 gold not guar__Alp.xc*& r
894 1897
500 &c
894 1897
do g, guar stamp sub] to call at 95 to Men 1907.
Incom e 4% bonds (no mortgage) n on -cu m u la tlv e..
1899
Mexican Mineral— 1st M $500,000 g red 110 s f ------ iMo
1,000
Alex North— First M U S gold, red 105, s f ..........Q c* &r
1890
£10
Mexican Railway Lim ited— Ordinary shares................
£10
First preference stock 8 % ------ --------------------------------£10
Second preference stock 6 % -----------------------------------£10
342
Perpetual 6% debenture s to c k .....................................
£100
1909
2d debens II ,000.000 auth red par beg 1912 s f ____
£100
1909
Alexico North W estern— 1st M gold red tex t................
$100
Michigan Central— S tock..............- ---------- -------------------a Exclusive of $952,000 held by sinking fund, b $1 0.000 nddltlo’ nal In sin

A m ount
O u ts ta n d in g

$122,000
175,000
200,000
2,500,000
1,500,000

R a le

%

5
.T &
M &
4
M ft
4H
3)5 g J &
5
J &

1,000,000
10
4
274,000
60,000,000
7
1,000,000
5
39,777,000
4 g
1,100,000 Up to 4
1,225,000
5 g
500,000
5g
250,000
5 g
2,000,000
5 g
202,450
5
897,000
4 g
900,000 4 In 1909
200,000
5g
12,000,000
4 g
800,000
6
1,200.000
5
200,000
5
1,500,000
5
250,000
4g
$5,850,000
705,500
6,501,000
4,499,000
b340.000
a708,000
£2,254,720
£2,554,100
£1,011,960
£2,000,000
£1,000.000
£3.000,000
C$18738.000
king fund.

W h en
P a y a b le

J Jan 1910 2 )5 %
s Sept 1 1917
N Nov 1909 2 H %
J Jan 1 1954
D June 1 1911

M

&
N
ft.
J
3— J
M & S
A ft O

J

J

ft

A &
M &
F &
M ft
M ft
A ft
M ft
J ft
F ft
A ft
J ft
M ft
M &

L a s t D iv id e n d
a n d M a tu r ity

j

o

N
A
S
S
o
N
D
A
O
J
N
N

4)5 g
4 g
4 g
4 In 1909
6 g
6 g

M ft
S
M & s
M & s
Sept 1
ft
F
A
J & D

7 3-16 '09
1 5-16 '09
6
4)5
5 g
6 'n 1909

A

ft

J
A
M
J

ft
&
&
&

N ov 1 1909 5
Jan 1 1922
Jan 3 1910 1 'A
Mch 1 1916
Apr 11990
Aug 1 1934
Jan 1912-1939
Oct 1 1928
N ov 1 1940
Feb 1 1955
Apr 1 1932
Mch 1 1951
Apr 1 1951
May 1 1936
June 1 1955
F b 1 1910 3%
April 1 1937
July 1 1921
Nov 1 1911
May 1 1955
Sept 1 1947
Sept 1 1977
Sept 1 1977
Sept 1 1977
Aug 1 1919
See text

P la c e s W h ere I n terest a n d
D iv id e n d s a r e P a y a b le

Treasurer’s office, P ortl’d
N Y , Boston f t Portland
Office, R ockland. Me
N Y , Boston f t Portland
do
do
Manchester and Boston
Boston f t Me R R , Boston
21 Park R ow , New York
Mercantile Trust Co. N Y
do
do
N Y & Grand Rapids
New Y ork aJid Chicago
Interest In default
Treasurer's Office, Phlla
First Nat Bk, York. Pa
Brown Bros, N Y ; & Balt
do
do
Alex Brown f t Sons, Balt
J P Morgan & Co, N Y
Safe Dep & Tr Co, Bost
Merch Nat Bk, Meadv.Pa
Standard Trust Co, N Y
Speyer Brothers, London
Office, 25 Broad St, N Y
do
do
Owned by Nat R ys cfM ex
Guaranty Trust .Co, N Y
O ffice, 82 Beaver St, N Y

6 Oct 1909, 4%
Glyn, Mills, Currle&Co.Lo
Oct '09, 1 5-16
do
do
J Perpetual.
do
do
() Dec 1960
do
do
s Mch 1 1959
Guar T r Co, N Y f t T or
J Jan 28 1910 3% Grand Cent Station, N Y

C O N T R O L .— The N. Y . Cent f t Hud. River R R . Co. In April 1898
gave $115 In Its 3 )4 % 100-year gold bonds for $100 stock, and so holds
$16,814,300 of the $18,738,000 stock Issued.
D IV ID ’S. ( ’85-86. '87-89. ’ 90. ’ 91. ’ 92-94. ’ 95-06. ’07. '0 8 .'0 9 . 1910.
Per cen t
\ nil. 4 yrly. 5
5 5)4 yrly. 4 yrly. 6
8 6 Jan, 3
B O N D S . — B a t t l e C r e e k A S t u r g i s bonds for $500,000, but of this $79,000
was sub-guaranteed b y the Lake Shore & Mich. S o., 7 miles of the B. C. & S.
being operated by that com pany. The $1,740,000 3)5s o f 1901 are a 1st
mtge. on the Jackson Lansing & Saginaw R R ., 350 miles (V. 73, p. 1061;
V. 76, p. 1027). Of the $18,000,000 3)4s o f 1902, $10,000,000 were sold
to retire first 5s and 7s, $4,000,000 additional being sold; $5,000,000 re­
served for additions, &c. V. 74, p. 728; V . 76, p. 102; V . 83, p. 1229.
First 4s on Joliet & Northern Indiana, see V , 84, p. 1367, 1428.
T o l e d o C a n a d a S o . A D e l . guar. 4s of 1906, see V. 82, p. 930: \ . 85, p. 406.
The Detroit River Tunnel bonds, authorized issue $15,000,000 (see abov e),
bearing lnt. at not exceeding 5 % , will be guaranteed. V . 82, p. 868, 1156.
In April 1909 an Issue of $25,000,000 4 % 20-ycar debentures was author­
ized, of which $10,000,000 sold to provide for advances to Detroit River
Tunnel C o., part of remainder to retire the $10,000,000 5% notes due Feb. 1
1910. A new divisional mtge. for $4,500,000 has been authorized on the
Grand R iver Valley R R .. of which $1,500,000 Is Issuable to retire the 1st 6s
due Sept. 1 1909, $1,500,000 for double-tracking, & c., and remainder for
future requirements. V . 88, p. 945, 1002, 1061, 1254; V . 89, p. 470.
Jointly with four other roads, covenants to pay New York Central Lines
$30,000,000 5% car trusts o f 1907,the com pany’s share o f equipment leased
being $3,906,382. V . 85, p. 1402; V. 86, p. 168; V. 88. p. 761.
E A R N IN G S .— 11 m os., (1 9 0 9 ...........Gross, $25,070,416; net, $8,248,450
Jan. 1 to N ov. 30.
\ l90 8 ______ Gross, 22,122,789; net, 6,811,304
F or 6 mos. ending June 30 1909, net, $3,685,035, against $3,234,751 In
1908; total net incom e (incl. $452,353 "o th e r” ) , $3,532,861; charges. $2.­
596,700; im pts., $236,412; dlvs. (3 % ), $562,140; bal., sur., $137,810.
AN N U AL R E P O R T .— Report for 1908 at length was In V. 88, p. 742,767.
Y e a r e n d i n g D e c . 31—
1908.
1907.
1906.
1905.
F is c a l
T o t a l r e c ’ ts
N et rev.
N et rev.
O th er
ln t. on
B a la n c e ,
Gross ea rn in gs................$24,918,488 $28,547,110 $26,275,588 $23,283,868
Y ear—
( M e x . c u r .) ( M e x . c u r . ) ( V - . S . c u r .) I n c o m e . B o n d s . & c .
S u r p .,
1908-09____ $6,953,284
$2,822,538 $1,41 1,269
$705 $745,360 $66'i,615
Operating expenses____ 19,005,352 23,131,751 21,730,264 18,865,916
1907-08____ 8,281,566
2,631,588 1 315,794
3,323 754,570 564,547
N . Y . office, 25 Broad St.— (V . 89, p. 1593, 1597. 1604.)
Net earnings__________ $5,913,136 $5,415,359 $4,545,324 $4,417,952
A1EXICAN NORTHERN R Y.— Owns from Escalon, Mexico, on the M exi­ N et, incl. other Incom e. $6,568,641 $6,117,878 $4,947,328 $4,733,764
561,202
566,310
Rentals p a id ___________
510,310
568,200
can Central R y .. to Sierra Mojada, 83 miles, all steel.
2,015.320
2,073,850
Interest on d e b t_______
2,268,938
2,098,230
S T O C K .— Capital stock Is $3,000,000; par of shares, $100; see application
962,002
1,001,741
Taxes ...............................
1,105,694
1,008,776
In full for listing on N. Y . Stock Exchange, V . 64. p. 619.
221,785
317,599
Interest on loans, & c___ 1,056,578
713,307
In June 1909 It was arranged to extend the $708,000 outstanding 6%
(4)749.500
(5)936,900
bonds to Dec. 1 1930, the obligation to pay to the sinking fund Interest on the D ividends.................... (6% ) 1.124,280 (8) 1,499,040
$952,000 bonds held b y the fund to cease; but sink, fund of 5% of gross
S u rp lu s .........................
$502,840
$230,325
$50,928
$223,934
earnings and Interest to continue on bonds acquired by the fund after
Pres., W in. H . Brown, N. Y .— (V . 89, p. 470, 529; V . 90, p. 236.)
Dec. 1 1910. V . 88, p. 1437, 1500. In July 1969 over a m ajority of the
bonds had consented to the extension. V . 89, p. 104.
AIIDDLETOWN UNIONV1LLE & WATER GAP RR.— (See M a p E r i e
R R . C o . ) — Owns from Middletown, N. Y ., to Untonvllle, N. Y ., 13.65 miles.
D IV S .—
I '92. '93. '94. '95-’90. '00. '01. '02. '03. ’04-’08.
1909.
Stock, $149,850; par, $50. Controlled, through stock, b y N. Y . Susa. &
P e r c e n t ............. \ GH CH 0 4 y 'ly .
5 4)5 2 1M N one. N ov.30,2
W est., which pays lnt. on bonds. In year 1908-09, gross, $70,827; net Inc.,
On N ov. 30 1909 2% for half-year ending June 30 1909. V . 89, p. 1280.
$11,256; ln t., taxes, & c., $40,630; bal., d ef., $29,374.— (V . 64, p. 664.)
R E P O R T .— For year ending Dec. 31, U. S. currency.
Y ear—
G ross.
N et.
O lh . I n c o m e .
C h arges.
S u rp lu s.
A1ID LAND VALLEY RR.— Owns and operates from Excelsior, A rk .,
1908 ............$397,176
$256,217
$51,617
$123,705
$184,128
south to H oye, A rk ., and north to Fidelity. A rk .; also from Excelsior west
1907 ______ 307,590
186,477
49,517
119,708
116,286
to Sllverdale, K an., and from Jenks, O. T ., to Glenn P ool. O. T ., a total of
— (V. 83, p. 1344; V. 88, p. 1313, 1437, 1500; V . 89, p. 104, 1280.)
299 miles; also operates under trackage from Maney Jet., A rk ., to F t.
A1EXICAN R Y .— See Issue of July 1908.— (V .87, p. 1420: V. 88, p. 944.) Smith. 1 6 m ., and Sllverdale to Arkansas City, Kan., 9 miles; total oper­
ated.
324 miles. See V. 78, p. 702, 1109; V. 80, p. 2345.
„
AlEXICAN SOUTHERN R Y .— See Interoceanlc R y . of Mexico.
The Cherokee Construction Co. with $3,500,000 stock, owns nearly all
A1EXICO NORTH W ESTERN R Y.— Name changed early In 1909 from
the stock. V. 85, p. 1462; V. 86, p. 1160; V. 81, p. 1610. Stock authorized.
Mexico Transportation Co.
$9,000,000; outstanding June 30 1909, $8,013,000; par of shares, $50.
Control lias been acquired of the Chihuahua f t Pacific R R . (through pur­ Bonds were subject to call at 107 )5 to and Including Jan. 1 1910. Equip­
chase both of Its stock and bonds), extending from Chihuahua to Mlnaca, ment trusts June 30 1909, $1,400,000.
122 miles, and La Junta to Tem osachlc, 55 miles, R io Grande Sierra Madrc
E A R N IN G S .— 5 m o s.,1 1 9 09 -.................. Gross, $560,623; net, $175,869
f t Pacific (El Paso to Terrazas, 160 m iles), El Paso Southern R y . (terminals
July 1 to N ov. 30. \1908___________ Gross, 413,661; net,
62,245
In El Paso), and the Sierra Madrc & Pacific Railroad (Tem osachlc to
R eport for year ending June 30 1909 In V . 89, p. 990, showed: Gross,
Madera, 32 miles), total, 370 miles; contracts have been let to con ­
net, $81,326; other Income, $4,804; interest, taxes, & c., $357,­
struct extensions from Terrazas to Madera amounting to about 105 miles $997,655;
Improvements, $201,358; balance, deficit, $472,469. Pres.. Charles
(for which concessions have been gran ted ), which It Is expected will be In 240;
E. Ingersoll; Sec. and T reas., II. E. Yarnall. Office, Franklin Bank
operation by Jatl. 1 1911. One terminal will be at El Paso, T ex ., and an­ Building,
Philadelphia.— (V. 86, p. 1160; V. 89, p. 990.)
other at Chihuahua, at both of which large smelting works exist. In Aug.
1909 also acquired tim ber lands, Including those of Sierra Madrc Land f t
A1ILL CREEK & A1INE HILL NAVIGATION & RR.— Mill Creek Jet. to
Lumber C o., In all about 3,000,060 acres, largely covered with pine forests, BroadMountaln, Pa., 3.81 m .; second track. 3.81 m .; total track, 34.7
which will be cut and sold. Sec V . 88, p. 749; V . 89, p. 348, 470.
miles. Leased In 1861 for 999 years to Phlla. & Reading R R .; lease as
Stock, $40,000,000 (par, $100), of which $15,000,000 Issued Oct. 1909.
sumed In 1896 by Phlla. f t Reading R a i l w a y , rental, $33,000 and taxes.
B ON DS.— Present limit £5,000.000, of which £3,000,000 Issued, may
MINE A 1IL L & SCHUYLKILL HAVEN R R .— From Schuylkill Haven to
bo Increased for extensions, terminals, double-tracking and other special Ashland
Enterprise Jet., 39.15 m.; 2d track, 17.05 m .; tot.track, 136.86m .
purposes; National Trust Co. of Toron to, trustee. Bonds are redeemable In 1897 and
rental reduced to 6% on stock under new lease for 999 years from
at par March 1 1959 by annual paym ents, com m encing In 10 years, to be Jan. 1 1897
Phlla. & Read. R y. C o.; 2 )5 % is paid In Jan. and 3%
applied In annual drawings at par or by purchase at or below par. or as a |n July, )5% to
being deducted for taxes.— (V . 63, p. 1011.)
whole at 105. V. 88, p. 749. Coupons payable at Bank of Scotland, London,
Guaranty Trust C o., New Y ork, and Bank of Commerce, Toron to.
A1INERAL RANGE RR. — Houghton, M ich., to Calumet, Mich., 14 m.
O F F IC E R S .— Pres., F. S. Pearson, 25 Broad S t., N. Y .; V .-P s., E. D.
Hancock to Mohawk, 21 m .; branches, 31 m .; South Range extension, Ke­
Kenna and W alter Gow, 27 Pine S t., N. Y .; E. C. Creel, Chihuahua. Mex.; weenaw Bay to Michigan Mine, 39 m ., opened Dec. 24 1900; trackage, 7 m .;
Secretary, Clarence Wells; Gen. M gr., II. C. Frcel, Chihuahua, M ex.—
Mohawk R R . operates 17 m .; total, 129 miles, all standard gauge. On
(V . 89, p. 847, 1542.)
June 1 1901 the Hancock f t Calumet R R . was merged (V . 73, p. 785). In
year 1895 paid dividends 1 0 )5 % : In 1896, 7 % ; 1897, 7 % ; 1898, 3 ) 5 % :
A1ICHK1AN CENTRAL R R .— ( S e e M a p s N e w Y o r k C e n t r a l A H u d s o n
cone since. Auth. stock. $1,200 000; outstanding, $1,085,000; par, $100.
H i v e r ) — LIN E OF R O A D .— Main line— Kensington to Detroit, 270 m.
and W indsor to Suspension Bridge (Canada Southern), 226 m .; total main
BO N D S.— Consols for $1,000 are reserved tor $3,000 old bonds. Of the
line 496 miles. Branches owned and leased, 1,236 m .; trackage (111. Cent.)
$593,000 outstanding, $339,000 are 5s; the Can. Pac. on June 30 1909
Into Chicago under perpetual lease. 14 m .; total, Jan. 1 1909, 1,746 miles. owned the remaining $254,000 (which are 4s) and the $1,000,000 gen. mtge.
There are 541 m. of second track and 1,293 m. of side tracks.
4s, both of which It guar, as to lnt. V. 75, p. 554. See V. 73, p. 556, 616;
Chicago Kalamazoo f t Saginaw R y ., Pavilion to W ood bu ry, M ich., 55 m ., V . 73, p. 785. Of tonnage In 1908-09 88% was ores and mining products.
Is controlled but operated Independently. V . 84, p. 50.
Loans and bills payable June 30 1909, $231,250.
The third-rail electric tunnel road under the Detroit River from W indsor,
E A R N IN G S.— For 5 months ending N ov. 30:
O nt., to Detroit, Mich., 2.42 m. long, under the charter of the Detroit River
5 M o n th s—
G ross.
N et.
O th . I n c .
C h a rges.
B a la n c e .
Tunnel C o., which Is to be opened for traffic about Jan. 1910, leased for
1009
..........$369,494
$61,306
$1,532
$66,017
def. $3,179
999 years from Jan. 1 1907. See BONDS below . V. 80, p. 2343; V . 82,
1908 ______ — 362,502
77,524
1,509
65,471
sur. 13.562
p. 1156; V. 84, p. 339, 1052.

A1ERIDIAN TERA11NAL CO.— Owns passenger statlon at Meridian, Miss,
opened Sept. 1 1906, and used by the Southern R y ., Mobile & Ohio, New
Orleans & Northeastern R R ., Alabama & Vicksburg and Alabama Great
Southern, which own one-fifth each of the capital stock ($100,000 auth .
of which $89,000 Issued Sept. 1908) and guarantee the bonds Jointly and
severally b y endorsement; form , V. 85, p. 601. Pres., D. D. Curran: See.,
W . J. Kelleher.— (V. 85, p. 601, 1402.)
AIEXICAN CEN TRAL R Y .— In 1909 sold to Nat. R ys. of Mexico.
A1EXICAN INTERNATIONAL R R .— (See M a p . p a g e 0 3 .)— Operates
Eagle P ass,T ex. (on Southern P a c.), and Ciudad Porflrlo Diaz, via Torreon,
on Mex. Cent., to Durango, 540 m ., with branches, 103 m .; R cata to Monte­
rey, 72 m .; branch to Tlahualllo, 43 m .; branch, Durango to Tepchuanes,
via Santiago Papasqulcro, 135 in.; total, 917 m. June 30 1909, Including
Coahulla Coal R y ., Baroteran to Musqulz, 24 m ., leased till May 1 1921.
V . 83, p. 1112. Organized under laws of Connecticut.
The National R ys. Co. of Mexico owned $15,825,400 of the stock and all
of the $4,499,000 Income bonds, and on June 30 1909 arranged to acquire
the $4,172,100 stock held by the Southern Pacific Co. In Jan. 1910 merger
with the National R ys. was pending. V . 89, p. 1597.
S T O C K .— Authorized $25,000,000; Issued July 1909. $20,708,200.
B O N D S.— In 1897 reorganized. Of consol. 4s $2,497,000 were In Jan.
1905 reserved for extensions at $10,000 per mile and Improvements. The
total Issue of consols Is limited to $16,000,000. The guaranty of prln. and
lnt. by National R R . of Mexico under agreement of June 30 1902 stamped
on $6,501,000 of the consols has been assumed by the Nat. Rys. Co. of Mex­
ico. V. 75, p. 185. Prior lien 4 )5s. see V. 65, p. 151, 1071 Consol. 4s of
1897 listed on N Y . Stock Exch. Feb. 1898. See application in V .66,p.341.
Dividend on Incomes, 4 % , was paid for 1902 to 1909 Inclusive.
E A R N IN G S.— (M cx. cu r.)(1 9 0 9 ____ Gross, $3,408,154; net, $1,502,307
July 1 to N ov. 30 (5 m os.)\1908____ Gross, 2,832,561; net, 1,108,734
A N N U A L R E P O R T .— For year ending June 30 1909, V .89, p.1593, 1004.




8(>

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., s e e n o te s o n fir s t p a g e ]

Michigan Cent (C o n c l . ) do

M ile s
R oad

270
115
152
152
84
39
350
45

Debentures, $25,000,000 a’utli, g old ...........Q .x c '& r
____
Jack Lans & Sag stock 3 K % yearly guar by e n d -­
____
Grand R iver Valley stock rental In p erpetuity___
84
Bay City & Battle Cr 1st M g guar p Sc 1e n d --M p .c
18
Battle Cr Sc Sturgis 1st M g guar p Sc I e n d --A lp .c
41
T olCanSo& D etlstM $4,500,000 g gu p&|(end) G.c*&
59
Detroit River Tunnel 1st M $15,000,000 guar____ L
AUddletown Union & W ater Gap— 1st M ext In ’86_c*
13
Second mortgage Int guar ext In 1896 (see text) - .c *
____
Midland Valley— 1st M $20,000 p m g (text) - - .G P .o *
293
Mill Creek & Aline Hill Navigation & R R — S tock -----Milwaukee Lake Shore & W estern— See Chicago & No r th 'W
Alilwaukee & Northern— See Chicago Milwaukee & St Paul
Mine Hill & Schuylkill Haven— Stock (6 % ren tal)__
39
Mineral Range— Consol mtge (text) gold red at 105--C
16
General m ortgage Interest guar b y Canadian P a c.F
73
H ancock & Cal cons mtge gold red at 105 assumed
32
Alinneapolis & St Louis— Common stock __________ Ce
—
Preferred stock (V 70, p 1150) 5% n on -cu m -__.C e
—
First M Merrlam Junction to Albert Lea, g o ld .F .c
81
Mortgage on Southw E xt gold ($12,000 p m) ..C e .c
53
Pacific extension first mortgage gold __________ Ce.c
92
First consol M $5,282,000 g (V .59,p .1145) -C e.c*& r
____
First & ref M $25,000,000 gold ($18,000 p m )____Ce
632
Gold notes $5,000,000 sec by coll red parslnce’ 08 Ce
____
Minn Dak & P 1st M $50,000,000 g red 105.Ce,c*& r
. . .
Car tr ser A g due $60,000 y ’ly (V 88,p.l373) .P cP .c*
—
Minn St Paul & S Ste Alarie— Cora stock $28,000,000
. . .
Preferred stock 7% non-cum , to be $14,000,000
. . .
Wisconsin Central leased line ctfs $12,500,000 autli
_______ c Of which $16,814,300 held by N Y C & H R R R Co
.

D a te
B onds

1902
1890
1881
1881
1909
1889
1901
1907
1904
1907
1909
—
______

1889
1889
1906
1906
1866
1871
1904
estern
______

1891
1901
1891
. . . .
. . . .

1877
1880
1881
1894
1899
1906
1906
1909
. . . .
. . . .

“ ----

Par
V a lu e

A m ount
O u ts ta n d in g

R a te
%

S1.000&C $14,000,000
1,000 <Scc 2.600.00C
1,000 J 4,000,00C /
1,000 &c
1
1,000 &c
1,000
1,000 &c
1,000 &c
100
100
1,000
1,000
1,000 Sec

700,000
1,725,000
1,500,000
1,096,200
10,000,000
7,634,000
2,000,000
491,200
250,000
421,000
3,100.000

100 &c
500 &c
1,000
25

150,000
250,000
5,980,000
323,375

50
4,210,200
500 Ac
593,000
100,000
1,000,000
1,000
325,000
100 c6 .000,000
100 f 4,000,000
500 &c
950.000
1,000
636,000
1,000
1,382,000
1,000
5,282,000
1,000 11,870,000
5,000.000
1,000 See text
600,000
100 20,832,000
100 10.416.00u
100 11,039.900

R E P O R T .— For year 1908-9, gross, $826,375; net, $125,342; other In­
com e, $3,049; taxes, $39,933: Int., $93,449; other deductions, $39,417;
d cf., $44,408.— (V . 73, p. 785.)
AUNNEAPOLIS & ST. LOUIS R R .— [ S e e M a p . ) — Owns main line Min­
neapolis to Angus, la ., 260 miles; Western D Iv., Hopkins to W atertown,
S. D ., 216 miles; Kalo Branch, 1 m .; Lake Park Branch, 1
in.; Win
throp ,MInn., to Storm Lake, Minn., 154 m. Leases trackage from Minne­
apolis to St. Paul over St. Paul Sc North. Pac. R R ., 10 m .; from Spencer to
Ruthven over Ch. M. & St. P ., 12 H m .; from Tara to Fort Dodge, over 111.
Cent., 6 m .; leases Des Moines & Fort Dodge R R .. Des Moines to Fort Dodge
and la r a to Ruthven, 137 VS m .; also leases Minnesota Dakota & Pacific,
W atertown to Leola, S. D ., 114 m ., anti Conde to Lc Beau, S. D., 115 m .;
trackage, 24 m .; total operated June 30 1909, 1,051 miles. Also leases to
B. C. R . Sc N. 13 miles.
H IS T O R Y .— A reorganization In Oct. 1894, per plan In V. 59, p. 371.
Persons Identified with Minn. & St. L. control the Iowa Cent. R y ., the
Ches. Sc Ohio, St. L. Sc San Fr., also T ol. St. L. Sc W est., which In Sept. 1907
acquired control of the Chicago Sc Alton and have a large Interest in the
Missouri Kansas Sc Texas. Des Moines Sc Ft. Dodge R R ., control acquired
In 1904, Is leased for 30 years from Jan. 1 1905. V. 78, p. 2335; V . 79. n.
269. 1704; .V. 81, p. 1430.
v
S T O C K .— After 5% on each, preferred and com m on share pro rata.
D IV ID E N D S .— ’97. ’98. ’99. ’00. ’01. ’02. ’03. ’04. ’05 to ’09. 1910
5
5
5
5
5 5 yearly. J a n .,2>4
P referred ................ | 3 3 H 4 H
C om m on..............% ) ------None----- 1 H 4
5
5 2 H
0
___
B ON DS, & c.— Bonds Issued under the mtge. due June 1927 numbered
from 1.101 to 1,400, for $500 each, additional to those a bove, were assumed
by Burl. Cedar R ap. Sc North, (now Ch. R ock I. Sc Pac.)
The ref.m tge.of 1899 limits the 1st con sols.(V .59, p.1145) to $5,155,000.
First refunding mtge. of 1899 Is for $25,000,000, of which $8, >30,000 re­
served to retire underlying bonds and $4,600,000 for future extensions, im ­
provements, & c., under severe restrictions. The mtge. Is a first lien on 283
miles of road, & c., and a blanket lien on rest of property, and Is further se­
cured by deposit of $2,530,000 Des Moines Sc Ft. Dodge com . stock. V . 68,
p. 187. 332; V . 79, p. 2147; V . 80, p. 2220; V . 87, p. 1420; V. 88, p. 295,
452, 506. See V . 69, p. 32.
The 55,000,000 5% notes of 1906 are secured b y the $6,250,000 Minn.
Dakota Sc Pacific 1st gold Is and the latter’s entire stock. V. 82, p. 392,
692, 1102; V. 83, p. 38, 1114.
The $3,072,000 Des Moines Sc Ft. Dodge 4% bonds dated Jan. 1 1905
are guaranteed, principal and interest. V. 79, p. 1704, 2696.
E A R N IN G S .— 5 m os., / 1909............... Gross, $2,318,737; net, $817,892
July 1 to N ov. 30.
\1908------------- Gross,
1,909,062; net, 678,825
A N N U A L R E P O R T .— Annual meeting first Tuesday In October. R e ­
port for 1908-09 was In V . 89, p. 1270.
Y e a r e n d i n g J u n e 30—
1908-09.
1907-08.
In c. or D ec.
Average miles op e ra te d ........................
1,028
1,005
-f*23
Gross earnings-----------$4,171,315 $3,826,516 + $344,799
Net over taxes..........................................
1,133,465
995,469
+ 137,996
Other Incom e............................................
338,885
315,667
+ 23,218

4
5
5

[V O L .LXX XX .

W h en
P a y a b le

g M & N
J & J
M Sc S
Q M

4 g
5
M
N
3 H g M Sc S
J & J 10
4 g
4 H g C,
A1
5
F <Y, A
A Sc O
4 g
M Sc S
3
5
.1 Sc J
J Sc D
3 g
J Se, D
3 g
J Sc J
4 g
5 g
5
5 g
10

5H
4 g & 5g
4 g
5 g
See text
5 in 1909
7 g
7 g
6 g
5g
4 g
5 g
4 g
5 g
6 in 1909
7 in 1909
4

L a st D iv id e n d
a n d M a tu r ity

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a r e P a y a b le

May 1 1952
Jan 1 1940
Mch 1 1931
Mch 1 1931
1959
N ov 1 1939
Sept 1 1951
July 10 1957
T o June 1 1910
Feb 1 1910
Apr 1 1929
Sept 1 1909 1 \\
Jan 1910 2 %
Deo 11989
Deo 1 1989
Jan 1 1956

R eg at G C S; cp at G Tr
R eg at G C S; cp at U Tr
Union Trust Co, N Y
Grand Cent Station, N Y

Se.
Sc
Sc
Sc

N
D
J
J

J
J
J
J
J
J
J
J

Sc
Sc
Sc
Sc
&
Sc
Se,
Sc
Sc
Sc
Sc
Sc
Sc
Sc
Sc
Sc
Sc

J Jan 151910 2 M
J Jan 1 1931
J
J Jan 1 1931
.1 Jan 15 1904 2 H
J Jan 15 1910 2 \\
D June 1 1927
D Dec 1 1910
O A pr 11921
N N ov 1 1034
S Mch 1 1949
A Feb 1 1911
A Feb 1 1956
O T o Apr 1 1919
o Oct 16 1909 3
() Oct 16 1909 3 H
o Apr 1 2008

A

M
M
F
F
A
A
A
A

Grand Cent Station, N Y
New York
do
do
Jackson, Mich
Union Trust Co. N Y
do
do
Grand Cent Station, N Y

1 1911
N Y Susq Sc W est, N Y
1 1910
do
do
1 1954
O ffice, Philadelphia
1910
5% Philadelphia

M
J
J
J

N ov
June
Jan
Jan

Grand Cent Station, N Y
R eg at G C S; cp at G Tr
Guaranty Trust Co, N Y

Office, 119 S 4th St, Phlla
44 Wall St, New Y ork
All owned by Canadian P
44 W all St, New York
3.
25
Office.
“
_Broad‘ St
—
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Penn Co for Ins. &c, Phil
Minn office; checks m ail’d
do
do

Abstract of M i n n e a p o l i s S a u l t S t e . M a r i e & A t l a n t i c m tge. In V . 45, p.
243. The c o n s o l , m o r t g a g e of 1888, abstract V . 47, p. 142, was for $21,­
000,000 on 800 miles (sufficient of this reserved to retire prior bonds) and for
$20,000 per mile on all additions.
V. 73, p. 185; V. 78, n. 820; V . 79, p.
1332; V . 80, p. 651; V. 87, p. 1011, 1664; V . 89, p. 779. As to second 4s,
see V . 68, p. 669, 771, 977; V. 71. p. 845; V. 85, p. 1646.
E A R N IN G S (R oad p rop er).— /1 9 0 9 ..G r o s s , $5,934,041; net, $2,835,276
4 m onths, July 1 to O ct. 31 . \ 1 9 0 8 ..G ross, 4,928,144; net, 2,096,922
R E P O R T .— R ep ort for year ending June 30 1909 was In V . 89, p. 775 .
Y ea r—

G ross.

N et In c.

I n t. & R e n ta ls . I m p r o v ’ts .

D a l., S u r .

1908-09.........$12,339,755 $4,994,788 $2,461,143 $350,000 $2,183,645
4,368,176 2,367,306
350,000
1,650,870
1907- 08---- 11,193,720
Net income In 1908-09 includes $35,593 and in 1907-08 $530,576 profits
from the sale of real estate. From surplus as above were paid dividends as
follows: 7 % on pref., $588,000 in 1908-09 and $488,744 in 1907-08, and In
1908- 09 on com m on, 6% ($1,008,000), against 5% ($693,015) In 1907-08,
leaving surplus of $587,645 In 1908-09, agst. $469,111.— (V . 89, p. 1668.)

AUNNESOTA TRANSFER R Y .— Union road owning 13.54 miles, e x ­
tending from Junction with Chic Mil. & St. Paid at Merrlam Park to Fredicy (with stock yards, & c.); side tracks, 45.72 miles; total, 59.26 miles. V.
67, p. 956. Stock, $70,000, equally owned by Chic. MUw. Sc St. Paul, N or,
P ac., Chic. St. Paul Minn. Sc Omaha, Minn. & St. Louis, W isconsin Cent..
Chic. Burl. Sc Quincy, Great N orth., Cldc. Gt. W est., Minn. St. Paul &
Sault Ste. Marie and Chic. R ock Island Sc Pacific.
Additional bonds can be Issued for property and Improvements as re­
quired. Principal only Is payable In gold. Mtge. trustee, Northwestern
Trust C o., St. Paul, Minn.— (V . 66, p. 1238; V . 67, p. 956.)

AWSSISSIPPI ARKANSAS & WESTERN RY.— Owns from a point In
Drew County, A rk., to Gaines Landing, on the Mississippi River In Chicot
County, Ark., 22 miles. Stock authorized, $220,000 Year ending June 30
1904, gross, $25,389. Pres., A. P. Bliss, Saginaw, Mich.; Sec. and Gen.
M gr., A. F. Cook, Little R ock, A rk.— (V . 75, p. 442.)
AUSSISSIPPI CENTRAL RR. — Owns from a point 14 miles south of
Hattiesburg, Miss., to Natchez, 164 miles, Including the former Natchez &
Eastern, Natchez, Miss., to Brookliaven, 66 miles, taken over b y consoli­
dation In June 1909. Extension proposed to Gulf of M exico. Stock au­
thorized, $5,000,000; outstanding July 1 1909, $3,940,000. Dividends of
6% yearly paid to O ct. 1 1907; none since to July 1909.
B o n d s .— 1st M. bonds dated July 1 1909, limited to $10,000,000, are Issu­
able at $25,000 p. m .: they are subject to call by lot at 110 for yearly sinking
fund of $300 p. m. of road covered from July 1 1912; also as an entire Issue at
same price. They are guar., p. & 1., b y U. S. Lum ber Co. V . 88, p. 1561.
E A R N IN G S .— 5 m os., (1009....................Gross, $356,852; net, $141,570
July 1 to N ov. 30.
\ 1908....................Gross
273,589; net,
94,653
Year ending June 30 1909 (June estim ated, 80 of the 164 miles being only
partly operated), gross. $698,383; net, $273,872; betterments, $2,050; taxes,
$13,573; net for Interest charges, $258,240; annual Interest charge on $4,­
100,000 bonds Is $205,000. Year ending Juno 30 1908 (84 miles), gross,
$477,010: net, $172,130; other Income, $67,785; betterments, $4,668; taxes,
$12,509; bal. for Int., $220,739. Yearly Interest charge on $4,100,000 new
Total net Incom e__________________ $1,472,350 $1,311,136 + $161,214 bonds will be $205,000. Pres., F. L. Peck; Treas.. John T . Porter: See.,
Interest p a i d . . . ______ ______________ $1,383,453 $1,107,077 + $275,776
G. F. R oyco. Office, Scranton, P a.— (V. 86, p. 1101, 1344; V .8 8 ,p. 1561.)
R entals-------- -------------------------------------68,260
67,782
+ 484
AllSSOURI & ILLINOIS BRIDGE & BELT RR.— Has bridge 2,100 feet
Net earns. D. M. Sc Ft. D ____________
_ _____
1,965
— 1,965 long across the Mississippi River at A lton, HI.: also 2 miles of road. Owned
Miscellaneous _____. . . __________ _
1,068
+ 1,068
by 10 of the 14 proprietary roads of the Terminal R R . Association of St
DIv. on pref. stock ( 5 % ) ____________
200,000
200,000
Louis, viz.: Cleve. Cine. Chic. Sc St. L ., Louisville & Nashville, St.L . Iron
Attn. & South., Balt. Sc Ohio, Missouri P ac., W abash, Clilc. R ock Island Sc
Balance for year......... ..................... d e f.$180,438 d c f.$06,288 — $114,150
P ac., St. L. & San Fran., Mo. Kan. Sc T ex. and St. L. Vandalla & Terre
O F F IC E R S .—-Chairman, Edwin Hawley; Pres., T . P. Shonts; Vicc-Pres
Haute (Penn. R R . system ). Incorporated In Aug. 1904 as successor of the
Idents, Geo. H . Ross and W . L. Ross, Chicago, and F. H . Davis, N. Y • St. Clair Madison Sc St. Louis Belt R R . V. 79, p. 1642, 681. Stock, $2,­
Treas., F. H. Davis; Sec., A. C. Doan. Office, 25 Broad S t., N. Y .
’ 500,000; outstanding, $110,000. For year ending June 30 1908, gross,
Directors— Edw. Hawley, H . E. Huntington. F. E. Palmer, F. II. Davis
$142,247; net after taxes,’ $110,038; bond Interest, $61,940; bal., sur., $48,­
Frank Trumbull, Theo. P. Shonts. L. C. Weir, New York; L. F . Day, 098. In 1906-07, gross, $167,751; net, $112,019. Pres., Henry Miller
Minneapolis; F . P. Frazier, Chicago.— (V . 89. p. 1276, 1668.)
Treas., F. II. Hamilton; Sec., W . F. Bender, Lincoln Trust B ldg., St. Louis
AUNNEAPOLIS ST. PAUL & SAULT STE. A1ARIE RY.— Owns main — (V . 88. p. 1128.)
AllSSOURI KANSAS & TEXAS R Y. — [ S e e M a p . ) — Operates a line with
line from Sault Ste. Marie, Mich., via Minneapolis to Portal, N orth Dakota,
northern terminals at St. Louis, Kansas City, Junction City and Hannibal,
at the International boundary line, there connecting with the Canadian Pac.
Mo., extending southerly across the Indian Territory and the Texas cotton
1,039 miles; branches, Hanklnson, N . D ., to Garrison, 292 in.; Glenwood,
belt to tidewater at Galveston, on the Gulf of Mexico, and to San Antonio.
Minn., to Emerson, 265 miles; Thief R iver Falls, Minn., to Kenmare, N. D .,
T e x ., and Shreveport, L a., with branches. ( ‘ See this com pany.)
296 miles; WIshek, N. D ., to Pollock, 70 m .; other branches, 399 m .: spurs,
16 m .; total July 1909, 2,376 miles: also trackage to Minneapolis, St. Paul
M ile s . | O p era ted — N o t O w n ed —
R oa d O w n ed —
M iles.
(being replaced b y line owned, V. 83, p. 38) and Sault Ste. Marie, 19 miles.
Missouri Kan. Sc T ex. R y.’—
W ichita Falls R y ...............
*18
Extension from main line near Brooten, Minn., northeast to Duluth. 189
St. Louis to Red River, T e x .
Denison Bonham & N. O. R R . *24
miles, not Included above, was com pleted July 1909. Extension from
Hannibal to Franklin J e t____
Dal. Cleb. Sc Southwestern____ *10
Moose Lake to Plummer, M inn., 200 m ., under construction Oct. 1909.
Branches to Paola and Par­
Dewey, I. T ., to Bartlesville___
4
sons, K an.; Oklahoma City
Austin, T e x ., terminals________
2
H IS T O R Y .— A consolidation In 1888 of Minn. Sault Ste. Marie & Atl
and Guthrie, O. T .,an d W y O p era ted J o in tly —
Minn. & P ac., &c. See V. 46, p. 538, 609; V. 77, p. 628.
barkand Atoka, Okla., &c. 921 St. Louis to Texas Junction___
24
In 1909 51% of Wisconsin Cent. com . stock was purchased, affording a
Mo. Kan & T . R y . of Texas—
Chicago connection, the road being leased for 99 years from April 1 1909,
Kansas City to P aola__________
43
R ed River to H ouston, T e x . . 548 W hltcsboro to F t. W orth ............
71
$11.039,900 leased line ctfs. being Issued (to Jan. 1910), secured by the W ls.
Deni on to Henrietta_______
112 lola to PIqua, Kansas--------------7
Cent. pref. stock, on which 4 % dlvs. are paid. V . 88, p. 232, 564, 686­
V . 89, p. 1668.
Other branches......................... 476 Galveston H ouston Sc H cn d—
*50
Austin to San Marcos__________
29
S T O C K .—Canadian Pacific In Oct. 1909 owned $11,928,700 com m on
and $5,964,400 preferred. Preferred stock has a prior right to 7% (nonTotal ow n ed_________________ 2,790
T otal operated July 1 1 909..3,072
cum ulatlve); then com m on to 7 % ; then share pro rata. V. 75, p. 549.
O R G A N IZ A T IO N , &c.— Reorg. In 1890 without foreclosure. V .49,p.719.
Stockholders In 1909 subscribed for $2,016,000 pref. and $4,032,000 com .
In Oct. 1909 a large Interest had been acquired by Edwin H awley, B . F .
stock at par, last Installment payable O ct. 15 1909, Increasing the amount
Yoakum of the R ock Island Co. and Speyer & Co. V . 89, p. 993.
outstanding to $10,416,000 pref. and $20,832,000 com . stock. V. 88, p.
749, 823; V . 85, p. 160, 722, 793, 1646; V. 87, p. 677.
LA N D G R A N T .— Land grant In form er Indian Territory (now Okla­
hom a), 3,110,400 acres, subject to Indian title. Sec V . 79, p. 903, 1281;
D IV ID E N D S .—
1903.
1904. 1905. 1906. 1907.
1908.
1909.
Preferred (per cent) . 1 7
7
7 7
7
7
^
V. 81, p. 668, 1042; compare V. 67, p. 222; V. 55, p. 937; V. 61. p. 1155;
Comm on (per c e n t).)
2
4
4
4
4
6
6
V. 77. p. 2339; V. 82. p. 1102; V . 84, p. 508, 1248; V. 85, p 736.
ST O C K .— Comm on Increased In 1904 by $7,200,000 to $63,300,300;
B O N D S.— Can. Pac. guarantees by endorsem ent 4 % Int. on all the bonas
assenting to a reduction of Int. to 4 % . (See V. 50, p. 784: V. 51, p. 239 )
preferred Is $13,000,000 4 % non-cum ulattvo. Par of shares, $100.
At:out c ne-half Minn. Sc Pac. bonds and.'practlcally all other Issues assented.
D IV ID E N D S .— On pref., 1906 to N ov. 1909, 4 % yearly (M. & N .).







88

RAILWAY STOCKS AND BONDS.

R A IL R O A D C O M P A N IE S
( F c r a b b r e v ia tio n s , & c ., s e e n o tes o n fir s t p a g e]

M ile s
R oad

D a te
R onds

Minneapolis St Paul & Sault Stc Marie (C o n c l u d e d ) —
Minn Sault Ste Marie & A tlantic 1st M g old --C e.c*
495
Minneapolis & Pacific first m ortgage_________Ce.c*
286
Cons m ortgage gold Int guar (end) see te x t___Ce.c* 2,470
Second m ortgage $5,000,000 gold lnt guaranteed_Ce 2,470
Car trusts June 30 1909. due $96,000 semi-annually Minnesota Transfer— First mtge ($914,000 are 4 s)___c
-Mississippi Arkansas & W estern— First mtge gold -A C
22
Miss Cent— 1st M $10,000,000 g gu red (te x t).-S x c *
164
Mo& 111 Br& Belt— St C M& St L B 1st M red g .S S t.c*
—
Consolidated mortgage $2,000,000 authorized gold —
Missouri Kansas & Texas— Comm on stock ___________
Preferred stock 4 % non-cum ulatlve________________
___
First mortgage g o l d - .................................................Ce
1,599
Second mortgage gold ........................................ ........ Me 1,599
First extension mortgage gold $3,254,000____Ce.c
163
St Louis Division first refunding m ortgage____ F.c
- Missouri Kansas & Eastern 1st M gold assum ed-.C e
162
162
Second mortgage guaranteed, being retired.........
Sh Sh & So 1st M ($20,000 p m) gold assum ed-Ce.c*
182
Kansas City & Pacific 1st M gold assumed____ Cec*
130
227
M K & Okla 1st M $5,468,000 gold assum ed___Ce.c*
Texas & Okla 1st M $2,347,000 gold assum ed-Ce.c*
117
First and refunding M $40,000,000 gold (see text) - F
—
General m tge $20,000,000 gold slnk’g fund red N c*
-------S W C & Im p 1st M assumed sink fund call at 125. F
—
Dallas & W aco 1st M $20,000 p m g g u a rp & I.C e.c*
66
M K & T of Texas 1st M $20,000 p m _C e.c*l Guar pr
225
Boonvllle Bridge 1st M gold sink fd -C e .c '* /& Inter.
—
Mo K & T Term Co 1st M (V 89, p 717, 721)______
Missouri & North Ark— Allegheny Im pt notes g red..
Mo Okla & Quit R y— 1st M $10,000,000 g red text SSc* 111.3
Missouri Pacific— Stock ($100,000,000 authorized)___
—
Pacific R R of Missouri 1st M ext In 1888 g old ___Me
283
Second mtge ext In 1891 In gold St L to K C- ,c *
283
First mtge St Louis real estate ext In 1892 g o l d - .
____
First mtge Caron Br g gu p & I (end) extend 1893
13
Third M ext In 1906 red 105 (V 83. p 492, 1348)Cc
296
Missouri Pac 1st M Lexington to Sedalla, Mo, gold.
55
Consolidated mortgage $30,000,000 g o ld ______ c* 1,076
O f which held In treasury July 1909: c $164, 100.

_

1886
1886
1888
1899
1886
1902
1909
1901
1904
____
1890
1890
1894
1901
1892
1892
1893
1890
1902
1903
1904
1906
1889
1890
1892
1901

Par
V a lu e

$1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 &c
1,000
1,000
100
100
500 &c
500 & c
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
250 &c
1,000
1,000
1,000
1,000
1.000

1906
1904

100 &c
100
1868
1,000
1871
1,000
1872
500 &c
1873
500
1876
1,000
1880
500 &c
1880
1,000
f $39. 100.
—

B O N D S.— M. K . & T . 1st and 2d mtges. of 1890 (abstracts In V . 51. p
495) cover line from Hannibal, M o., to Boggy Tank (except 71 m. of track­
a ge), and sundry branches, the total mileage m ortgaged being 1,599 m .,
Including the Sherman Shreveport & S o., but see below . These mtges.
also cover the right to land grant.
M i s s o u r i K a n s a s & E a s t e r n b o n d s were assumed In June 1896.
(V . 63,
p. 30.) $4,669,000 St. Louis div. 1st refg. bonds reserved for retirement
of both Issues: balance for ext. and Impts. V . 72, p. 1034; V 75, p. 608.
S h e r m a n S h r e v e p o r t & S o . mtge. Is for $6,000,000 at $20,000 per m .; iss’d
$3,689,000, of which $2,000,000 pledged under M. K. & T . mtge. of 1890.
Bonds, guar., were assumed on consol. In 1901. V . 72, p. 1034, 1115.
The Missouri Kansas & Oklahoma and Texas & Oklahoma bonds. Issued
at $20,000 per mile, guaranteed, have been assumed. V 74, p. 1038;
V. 75, p. 185, 733; V . 77, p. 252; V . 78, p. 48; V . 79, p. 968.
Of the 1st and refunding 4s of 1904 ($40,000,000 authorized Issue), $12,­
037,000 Is reserved to retire divisional mortgages at or before maturity;
balance unissued ($17,940,000) for future purposes. They are payable at
the option of the holder In sterling, marks or francs. They are a second
lien on 507 miles of road and on the first m tge. bonds of Denison & Washita
Valley R y ., 47 miles, and a first lien on terminals and equipment of esti­
mated value of $24,380,000. V. 79, p. 968, 1281, 1332; V. 80, p. 222,
712; V . 81, p. 613; V. 82, p. 987, 1497; V 86. p. 1101; V 88, p 158,295.
Of the $20,000,000 gen. M. 4 M % sink. fd . 30-year gold bonds, stockhold­
ers were In 1906 offered the right to subscribe for $10,000,000 (underwritten)
at $875 per $1,000 bond, $4,000,000 equip, trusts being retired out of pro­
ceeds, the bonds being a lien thereon subject to the first and refunding mtge.
In Jan. 1909 $3,170,000 were sold for equipm ent. Sink, fund, 2% of out­
standing bonds yearly beginning Jan. 1 1911, will be used to purchase or
call bonds by lot at par, bonds purchased to be kept alive In sinking fund.
(V . 82, p. 218, 334, 692; V . 84. p. 1551; V. 85. p. 346, 654; V.88, p.101,158.)
As to M. K . & T . of Texas "first extension and gen. m tge.” for $25,000,­
000, contem plated In 1906, see V. 83, p. 435, 562; V . 82, p. 1269.
G U A R A N T IE S .— The Boonvllle Bridge 4s are guaranteed, principal and
Interest, and also as to sinking fund beginning 1911. V. 73, p. 494.
The M . K .
T . o f T e x a s mtge. secures $10,000,000 of bonds at $20,000
per mile for extensions In Texas, of which am ount $4,505,000 have been
Issued. They are guar, p. and 1. See abov e, and guaranty, V . 56, p. 604.
The S o u t h w e s t e r n C o a l & I m p r o v e m e n t C o . ' s bonds are guaranteed. Mort­
gage ($1,000,000) covers the coal In 51,000 acres In Indian Territory; the
co. also owns 2,350 acres additional. Den. & W ash. R y ., 47 m ., mines, &c.
L A T E S T E A R N IN G S .— For 5 m onths ending N ov. 30:
5 M o s .—
G ross.
N et.
O th er I n c .
C h arges.
B a l.,S u r .
$41,904 $2,734,456 $1,620,541
1909 - _ ........... $11,858,586 $4,313,093
1908 ................ 11,583,493 3,850,244
29,605
2,873,634 1,006,216
A N N U A L R E P O R T .— Annual m eeting first Thursday after first Monday
In A pril. R eport 1908-09 was given In V . 89, p. 717.
Y e a r e n d i n g J u n e 30—
1909.
1908.
1907.
Gross earnings........................... ..
525,300,915 $23,283,669 $26,183,959
Operating expenses and taxes.
18,634,715 17,120,350 17,156,878
Operating Income.
$6,666,200 $6,163,319
Rentals received_____________________
65,6151
Miscellaneous Incom e________________
115,820.1
381,423

$9,027,081

Net Incom e_______________________ $6,847,635
In t. and sink, fund on bonds_________ 4,782,634
Int. on equipment, notes____________
3,318
R entals______________________________
530,408
Other lnt. and hire of equipm ent____
156.979
Dividends on pref. stock (4 % )______
520,000
Additions and betterm ents__________
433,412

$6,544,741
4,670,628
3 1,433
507,406

$9,204,221
4,524,839

520,000
546,444

520,000
518,572

177,140

478,499

Balance, surplus__________________
$268,830 $3,162,311
$420,884
O F F IC E R S .— Pres., A. A. Allen, St. Louis; V .-P ., C. Haile, St. Louis;
Sec. and Treas., C. N. W hitehead, 49 W all S t., New York.
Directors.— Edwin Hawley (Chairman), B. F. Yoakum , Hans W lnterfeldt, Frank A. Vanderllp, Frank Trumbull and James N. W allace, New
Y ork; A. A. Allen, James Campbell, S t. Louis, Mo.; Edward S. Rea,
Alfred J. Poor, E. B. Stevens, Kansas; H . J. De Marez Oyens, Amsterdam,
Holland; and Alfred W . Smlthers, London, E ng.— (V . 90, p. 54.)
MISSOURI & NORTH AR KANSAS R R .— Operates from Joplin, Mo., to
Leslie, A rk., 182 H miles, o f which Neosho, M o., to Joplin, 19 miles, and
Sellgman, A rk., to W oodrutr, 9 miles, are trackage. Extension from Les­
lie to Helena, A rk ., 179 miles, of which 110 miles operated Dec. 1909, and
remainder was about com pleted. V. 86, p. 168. Successor, per plan
V. 82, p. 569, 1269: V. 83. p. 39, of St. Louis & North Arkansas, foreclosed.
Stock authorized. $25,000 per mile. In A ug. 1906 a mortgage was filed
to secure an Issue of $11,500,000 50-year 4% gold bonds (St. Louis Union
Trust Co., trustee) Issuable at $25,000 per mile. Entire stock and bonds
are pledged to secure $6,000,000 5-year 5% gold notes o f the Allegheny
Im provem ent C o., due O ct. 1 1911, but redeemable on any interest day;
Interest payable A . & O. at St. Louis Union Trust C o., trustee. V. 85, p. 99.
Outstanding May 26 1909, $7,689,500 each o f stock and bonds.
F or year ending June 30 1909 (345 aver, m iles), gross, $486,371; net,
$15,774
In 1907-08 (141 aver, m iles), gross, $355,202; net, $7,459; other
Inc., $1,971; taxes and rentals, $17,283; bal., d cf., 57,853. Chairman, D.
R . Francis; Pres., John Scullln; V lce-Pres., Geo. L. Sands.— (V. 86, p. 857.)
A1ISSOURI OKLAHOMA & O LLF R A I L W A Y — Owns and oper­
ates 111.3 miles of main track and 11.4 miles of sidings extending from W ag­
oner to Calvin, Okla., via Muskogee and Henryetta. Coal branch 5 miles In
length In Henryetta coal field at Henryetta. Extension under construction
from present southern terminus at Calvin to Denison and Sherman, T e x .,
106 miles, of which 53 miles to W apanucka, Okla., opened N ov. 1909.
Extension from W agoner, Okla., to Joplin, M o., 120 miles, under construc­
tion In N ov. 1909. Main line, 70-lb. steel rail; sidings, 60-lb. steel rail—
operated Independently. Owns 2 steel girder bridges over Verdigris and
Arkansas rivers, which are used as toll bridges. Extensive terminal prop­
erty at city of Muskogee.




A m ount
O u ts ta n d in g

R a te
%

$8,204,000
4 g
300,000
4 (5)
45,891,000
4 g
3,500,000
4 g
1,551,000
5
1,818,000 4 & 5
220,000
5 g
4,100,000
5 g
758,500
4 g
790,000
4 g
63,300,300
13,000,000 4 in 1909
40,000,000
4 g
20,000,000
4 g
3,254,000
5 g
1,923,000
4 g
4,000,000
5g
59.000
5 g
1,689,000
5 g
2,500,000
4 g
5,468,000
5g
2.347,000
5 g
10,023,000
4 g
13,170,000
4H g
968,000
6
1,340,000
5g
4,505,000
5 g
1,000,000
4 g
See text
6,000,000
4,000,000
5 g
83,251,090 See text
7,000,000
4 g
2,573,000
5 g
800,000
5 g
237.500
4 >4 g
3.828,000
4
650,000
5 g
14,904,000
6 g

[VOL. L X X X X .

W h en
P a y a b le

J
J
,r
J
J
F
J
J
J
J

&
&

M
J
F
M
A
A
A
J
F
M
M
M
J
J
M
M
M

&
&
&
&
&
&

M
J
F
J
M
A
M
F
M

&

&
&
&

&
&

&
&

&
&
&
&
&
&
&
&
&
&
&

&
&
&
&
&
&
&
&

L a st D iv id e n d
a n d M a tu r ity

J Jan
J Jan
J July
J Jan
J
A A ug
.1 Jan
.1 July
J Jari
J Jan
N
D
A
N
n
o
o
D
A
N
S
s
J
J
N
S
N

P la c e s W h ere In te r e s t a n d
D iv id e n d s a r e P a y a b le

1
1
1
1

1926
1936
1938
1949

Bank o f Montreal. N Y

1
1
1
1
1

1916
1922
1949
1951
1951

1st Nat Bk,St Paul,Minn
Amer T r & Sav B k, Ohio
H arvev Fisk & Sons. N Y
St Louis Union Trust Co

N ov 10 1909 2% New York
June 1 1990
Office, 49 W all
June 1 1990
N ov 1 1944
A pr 12001
do
A pr 1 1942
do
Apr 1 1942
do
June 1 1943
do
do
A ug 1 1990
May 1 1942
do
Sept 1 1943
do
Sept 1 2004
Jan 1 1936
do
July 1 1929
do
N ov 1 1940
do
Sept 1 1942
Office, 49 W all
N ov 1 1951

St, N Y

do
do
do
do
do
do
St, N Y

Oct 1 1911
N N ov 1 1944
New York and St Louis
J Jan 30 1908 2 R 165 Broadway,New Y ork
A Aug 1 1938
Mercantile Trust Co. N Y
.1 July 1 1938
do
do
N May 1 1938
do
do
do
O Oct 1 1938
do
do
N July 1 1938
do
A Aug 1 1920
do
do
do
N N ov 1 1920
do

The Mo. Ok. & G. Bridge & R y . was Incorporated In D ec. 1909 with

$25 0,00 0 auth. stock, to bridge the Red River at Carpenter’s Bluff, Okla.

S T O C K .— Authorized $10,000,000; outstanding, $3,000,000; par. $100.
BONDS secured b y absolute 1st m tge. on entire property now owned
or hereafter acquired, limited to $25,000 per mile, to be Issued upon com ­
pletion o f 5-mlle sections.
They are subject to call at 107 and Interest
after N ov. 1 1909 on 6 mos. notice. V. 86, p. 1043. In July 1909 $4,000,000
had been sold, with option on $1,000,000 additional. V. 88, p. 686.
O F F IC E R S .— Pres., W m . Keneficlt, Kansas City, M o.; V .-P . and
Treas., W . P. Dewar; S ec., E. R . Jones. General offices, Muskogee, Okla.
— (V. 81, p. 1849; V. 86, p. 1043; V 87, p. 415; V. 88, p. 686.)
(1) MISSOURI PACIFIC R Y .— (S e e M a p . ) — Operates an Important sys­
tem extending westerly and southwesterly from St. Louis, M o., Including
main lines from St. Louis to Omaha, N eb., 494 in., and from Kan. City to
Pueblo, C ol., 624 m ., with m any branches In Kansas, &c. Through the St.
Louis Iron Mt. & Southern, which It controls, connection Is had with Texas
and the lines of the T ex. & P a c., Internat. & Gt. Northern and the St. Louis
Southwestern, the whole form ing what Is known as the "G ould System .”
L in es ow n ed .

M ile s . \

L ea sed lin es, & c. (C o n .).

M ile s .

39
St. Louis to Om aha....... ............ 494 |Other lines.............. .......................
Kan. C y., M o., to P ueblo, C ol. 624|Trackagc to St. Joseph. & c___
21
Other main line and b ra n ch es..2,658 |
--------L ea sed lin e s , & c .
|
Boonvllle St. L. & Southern___
44 IT ot.M o.P ac. and branch lin e s.3,879
Grand total Missouri Pacific mileage Aug. 30 1909, 6,489 miles.
Also controls St. Louis Iron Mtn. & Southern and leased lines, 2,609 m.
Thq Missouri Pacific R y . Co. owns about 40% of the stock of the Denver
& R io Grande R R . C o., the latter extending from Pueblo to Salt Lake City,
while the D . & R . G. R R . Co. owns a m ajority of the stock of the Western
Pac. R y . C o., whose line, extending from Salt Lake City to San Francisco,
Is now rapidly nearing com pletion. The Mo. Pac. R y . Co. will thus become
an Integral part of an Important trans-continental line extending from St.
Louis to San Francisco.
ST O C K .— Stock authorized, as Increased b y the consolidation with con ­
stituent companies In Aug. 1909, $240,000,000; $83,251,000 of new com ­
pany’s stock will be Issued In exchange for stocks of constituent companies
(incl. old Mo. Pac.) merged In 1909. V . 85, p. 1646; V . 89, p. 348.
D IV S. ’ 82 ’ 83 to ’ 87 ’ 88 ’89 ’90 ’ 91 ’ 92-’ 00 ’ 01 ’ 02 to ’ 07 1908
None
Per c t .) 6 } f 7 y ’ly. 5M 4 4 3 None. 2J$ 5 y ’ly. 2>*stk. si ce.
B O N D S.— The c o n s o l i d a t e d m o r t g a g e Is for $30,000,000— trustees John F .
Dillon and Edward D. Adam s— the balance unissued Is In trust to redeem
prior bonds due If deemed best. A bstract In V. 47, p. 287.
The c o l l a t e r a l t r u s t b o n d s d u e 1917 (Union Trust Company o f New Y ork,
trustee) are secured b y mortgage bonds of new roads at $12,000 or WO,000
per mile; these em bracing the line from Fort S cott, K an., to Pueblo, C olo.,
&c. For securities pledged, & c., see V . 46, p. 678.
The 4s of 1905 are limited under their “ first and refunding” mortgage to
the $37,255,000 outstanding; they aro secured b y an equal am ount at par
of Iron Mtn. stock. Compare V. 80, p. 712; V . 86, p. 1344; V. 89, p. 1347.
The first refunding mortgage of the K a n s a s & C o l o r a d o P a c i f i c made In
1908 (V. 86, p. 229, 286; V. 88, p. 452) Is limited to $50,000,000 (at not to
exceed $30,000 p. m ., Including $15,544 p. m. of prior underlying bonds);
$20,687,000 bonds secured thereby were Issued, but It Is understood will
m ostly be pledged under the new Missouri Pacific “ first and refunding”
mortgage; $23,532,000 to retire underlying bonds of constituent companies
at present held b y trustee of Mo. Pac. R y . coll, trust 5s of 1917 and 1920;
$6,781,000 reserved for extensions or Im provem ents.
F IR S T AND R E F U N D IN G M O RTG AG E D A T E D 1909— A U T H O R ­
IZE D ISSU E, $75,000,000.
The "first and refunding” bonds of the Missouri Pacific R y . C o., dated
1909, are limited to a total of $175,000,000, bearing Interest to be fixed for
successive Issues at not to exceed 5% ,a n d . If desired, with conversion rights.
See circular, V. 89, p. 1347. The Issue will be subject to call at 110 and
Interest on any Interest day beginning Sept. I 1917, either as a whole, or In
amounts equal to the pledged St. L. Iron Mtn. & Sou. bonds In caso these
last should be redeemed. The Immediate Issue consists of $29,806,000 5%
Series A bonds c o n v e r t i b l e at face value at holder’s option Into stock at par
from Sept. 1 1912 to Sept. 1 1932, and within such period up to 30 days of
date of redem ption. If called for paym ent: these were underwritten and
ollercd to the shareholders at 95 In Jan. 1910. Seo “ General Finances.’ ’
P u r p o s e s f o r W h i c h t h e $75,000,000 F i r s t a n d R e f u n d i n g R o n d s M a y N o w
R e Issu ed o r A r e R eserved .

Issuable forthwith as Series A 5% convertible bonds (1) $10,­
700,000 upon deposit of a like am ount of underlying bonds
(Including presumably a large part of the $20,687,000 Kansas
& Col. Pac. bonds heretofore certified, but only to a small
extent In the hands of the public), thus providing for pay­
ment of floating debt and not less than $4,653,000 for Im­
provements; (2) $5,300,000 to acquire a like am ount of
St. L. I. M. & So. Improvement bonds, and (3) $4,806,000
for additions, betterm ents, & c________________________________$29,806,000
Reserved to refund a like am ount of underlying bonds---------- 66,293,000
Reserved to provide premiums and discount If required In
refunding__________________ __________________________________
4,640,500
Reserved to retire a like am ount of equipment obligations ma­
turing from Dec. 1909 to May 1 9 1 7 - ................................... ..
6,500,000
Reserved (together with any bonds not required for refunding)
for extensions, betterments anil equipment and bonds secured
*
b y first mortgage on union depots, stations and terminal
facilities under careful restrictions (seo note b elow )_________ 48,060,500
Reserved to acquire a like am ount of St. L . I. M. & Sou. 5%
Improvement b o n d s......... .......... ......................................................_ 19,700,000
N o t e . — Bonds converted Into stock and canceled, but only to an aggregate
of $40,000,000, m ay be rc-lssucd for additions, equipment, &c.
The Issue Is secured by a direct lien on 3,779 miles first main track and
952 miles of other track, subject to $66,293,000 underlying bonds: also
subject to certain underyllng bonds on the entiro equipment v a lu e d 'a t

RAILWAY STOCKS AND BONDS.
low.]
.,
n

Ja




90

RAILWAY STOCKS AND BONDS.

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c . , s e e n o te s o n fir s t p a g e]

Missouri Pacific— (C o n c l u d e d ) —
Gold collateral trust______ _____ ____ _____ U n.c*Ar
First coll M 510,000,000 g (V 50, p 069) - -M e.c*rA r
Mortgage 537,255,000 g red at 1 02 )4 ___M e.xc*A r*
Ler & Cancy Val 1st M gold guar (V 70, p 1095)- .c *
Verdigris Val Independence A VV 1st M gold g u a r -.
K C A N W 1st M pref - A " gold Int rent red 1 0 5 .Me
Central Branch U P 1st mtge gold a s s u m e d ..Un.c*
Me
Central Branch 1st M gold assumed....................
Kan A Col P ac lstre r M g g u p & 1________ (i.x c ’ Ar
First & ref M 5175,000,000 red con v text
xc* Ar*
Equip A ss'n obligations 5203,000 pay Sept 1 yearly
do
do
Ser B gold 597,000 due Mcb 1 yearly,
do
do
Ser C gold 5282,000 June 1 y e a rly .Me
do
do
Ser D to F gold 5103.000 Dec 1 yearly
do
do
Ser G to I gold 5220,000 yea rly______
Mo Pac equip bonds g 5335,000 May 1 y r l y .. K .c*A r
Mo Pac System — St Louis Iron Mt & Southern R y —
Gen cons & first guar mtge (545,000.000) g . . .A le.c*
do
do
gold stamped guaranteed p & 1_. _c*
Unifying a refund M gold 540,00 0 ,0 0 0.. _M p.xc*A r
R iver & G Dlvs 1st M 550.000,000 g . -M e.xc*A rA r*
Im provem ent mtge -25,000,000 g o ld _____________
Car trusts L to M due June, Sept and Dec yearly__
Car trusts Ser N to P 5355,000 or 5357.000 y e a r ly ..
do
do Ser R to U, part yearly_____________
T d ? ,, 110
gold 5366,000 yearly......... .M e cA r
Little R ock June 1st M to be assum ed______ Ale.c*
Pine Bluff & W est 1st M to be as’med red 10 y ’rs 105
Arkansas Midland 1st M gold to be assumed_______
Little R ock & H ot Sp 1st M g to be a s s u m e d ..SSt
St Louis W atk ’s A G u lflst M g & £ to be assumed.F
Mobile & Birmingham R R — Pref stock ($900,000). . .
Prior lien gold 5600,000............................................ Ce.c
First Mortgage 51,200,000......................................Ale.c
Mobile & Ohio— S tock ........................ ................................
First M Mobile to Columbus (principal gold) — F.c*
First M exten Columbus to Cairo A branch g . - . F . c
General mtge for 510,500,000 (now gold) s f . - F . c
M ontgom D lv 1st M 54,000.000 g (V 66 p 1045).Ce.c
W Collateral trust gold (52,500.000) call at p a r .-Q .c

M ile s
R oad

1,120
671

_

52

81
_

100
288

_
_
_
_
_
«...

. . .

D a te
B onds

Par
V a lu e

A m ount
O u ts ta n d in g

R a te

1887
51,000 514,376,000
1890
1,000
9.636,000
1905
500 Ac 37,255,000
1886
1,000
520.000
1886
1,000
806,000
1894
1.026,000
500 Ac
1898
2,500,000
1,000
1899
1,000
3,459,000
1908 1,000 Ac See text
1909
500 Ac See text
1902
1,000
612,000
1903
1,000
291.000
1,128,000
1903
1,000
1903
1,000
460,000
1905 7
1,000
1,397,000
1906
1,000
2,680,000

5 g
5 g
4 g
5 g
5 g
5 g
4 g
4 g
6 g
5g
5 g
5 g
5 g
5 g
5 g
5 g

%

1,538 •81-'87
1,000 37,187,000
5 g
1,538 ______
1,000
6.074,000
5 g
1.543 1899
1,000 30.529,000
4 g
738 1903 1,000 Ac 30,849,000
4 K
_
1909
5,300,000
’95-’ 03 _____________
326,000
5
1903
1,000
1,093,000
5
—
’05-’06
1,000
2,139,000
5
—
1907
1,000
2,928,000
5 g
2 1891
1,000
435,000
6
44 1903
1,000
880,000
5 g
47 —
—
176,000
6 g
53 1899
1,000
1,140,000
4 g
100 1902
5 A £
983,360
5
—
—
100
4
900,000
150 1895 200, 1000
600,000
5 g
150 1895 200, 1000
1.200.000
4
—
______
100
6,070,600 See text
472 1879
500 Ac
7,000,000
6
52 / 1883
1,000
1,000,000
6 g
527 1888
500 Ac
9,472,000
4 g
189 1897
1,000
4,000,000
5g
- 1900
1,000
2,498,000
4 g

_
_
__

518,621,297, and all other property now owned or hereafter acquired; also
b y pledge of the new 50-ycar 5% St. L. I. M. A So. Improvement bonds
(limited to 525,000,000) as issued, of which 55,300,000 to be deposited at
once, having a first lien on 228 miles o f first main track and a direct m ortgage
subject to existing liens on 2,902 miles of first main track, constituting
practically the St. Louis Iron Mtn. & Southern system.
T hey will be a first lien at once on 165 miles of first main track and after
retirement on or before N ov. 1 1920 of 543,025,000 of the underlying bonds,
on at least 3,079 miles of the present mileage of 3,779 miles b y a direct
mortgage on 1,712 miles thereof, and deposit of at least 538,441,000 of a
total limited to 543,219,000 bonds secured b y first m ortgage on 1,367 miles.
N o underlying bonds In hands of public can be extended.
G E N E R A L FIN AN C ES.— The com pany on June 30 1909 owned $2,000,­
000 W abash R R . pref. stock and the St. Louis A Iron Mtn. 59,326,200 pref.
and 52,826,200 com . stock and 52,913,200 first refunding and extension
bonds. See W abash R R . Stockholders were in Jan. 1910 offered the
right to subscribe for 529,806,000 Series A convertible “ first and refunding”
5s (underwritten b y a syndicate) at 95, payable 35% Jan. 21, 30% March 4
and 30% April 15 1910. The proceeds, besides providing for the floating
debt, will furnish a considerable am ount of new capital for Improvements
and additions on the M o. Pac. and St. L. I. M. & Sou. lines. V. 89, p. 1347.
The m ortgage debt upon fines securing the new "first and refunding”
m ortgage, after the Issue of the $29,806,000 Series A bonds, including all
outstanding underlying bonds, will be at the rate of about 525,500 per mile
of main track, exclusive o f the security to be afforded by pledge of at least
55,300,000 bonds of St. Louis Iron Mountain & Southern.
E A R N IN G S .— 5 m os., 1 1909........... Gross, 522,821,354; net, 57,549,414
July 1 to N ov. 30.
J 1908______ Gross, 19,935,810: net, 6,389,537
A N N U A L R E P O R T .— Fiscal year ends June 30. R eport for year ending
June 30 1909 In V . 89, p. 1539; editorial, p. 1513. Comparisons w ithyear
1906-07 Inaccurate, owing to changes In accounting. Annual meeting Is
held at St. Louis In March. R eport of earnings of Missouri Pacific S y s t e m
have been as below . “ Other Income” In 1908-09 includes; W abash 1st ref.
and ext. m tge., 5157,387; Pacific Express C o., 5464,000; Denver A R io
Grande, 5365,000; St. Louis W atkins A Gulf, A c., 5707,656.
1908-09.
1907-08.
1906-07.
Miles operated, average_______________
6,489
6,479
6,375
Total earnings------------------------------------- 546,385,543 544,238,703 548,703,343
Net e a rn in g s-------------------------------------- 12,459,030 12,592,415 16,188,272
Other Income, A c ------------------1,694,043
2,875,298
3,283,283

[VOL. L X X X X .

W h en
P a y a b le

L a s t D iv id e n d
a n d M a tu r ity

M A S Jan 1 1917
F A A Aug 1 1920
M A S Mch 1 1945
J A J July 1 1926
M A S Mch 1 1926
J A J Jan 1 1933
J A D June 1 1948
F A A Feb 1 1919
F A A Feb 1 1938
M A S Sept 1 1959
Q— M Sept 1910-1912
Q— M T o Men 1 1912
Q— M T o June 1913
Q— M T o Dec 1914
Q— M T o Dec 1916
M A N May 1910-1917
A
A
J
M

A
A
A
A

O
O
J
N

A pr 1 1931
A p r 1 1931
July 1 1929
May 11933
1959
Quar
T o Deo 1912
Q— M T o June 1913
Q— M
T o June 1917
Q— M T o June 1917
A A O Apr 11916
A A o Oct 1 1923
J
A .1 July 20 1911
J A .1 July 1 1939
J
A J June 1930
J
A J Jan 1 1910 2%
J
A J July 1 1945
J A J July 1 1945
J
A D June24 1909 2)4
J
A D Deo 1 1927
Q— Jan July 1 1927
M A S Sept 1 1938
F A A Feb 1 1947
Q — F May 1 1930

P la c e s W h e r e I n te r e s t a n d
D iv id e n d s a r e P a y a b le

Mercantile Trust Co
do
do
do
do
do
do
do
do
do
do

do
do

New York
Equitable Trust Co, N Y
do

do

do
do
K nickerbocker T r C o,N Y
Mercantile Trust Co, N Y”
do
do
do
do
do
do
do
do
Tow nsend, Whelen A Co
do
do
M eroT r Co, N Y A Phlla
Mercantile Trust Co. N Y
New York and St Louis
New York
St Louis and Philadelphia
Farmers L A T r Co, N Y
J P M orgA Co N Y ; ALon.
J P Morgan A Co, N Y
do
do
Mobile
Farmers’ L A Tr Co, N Y"
do
do
Gallatin Nat Bank, N Y
Gallatin N at. Bank. N V
Guarantee Trust Co, N Y~

tlon and $15,000 per mile of second track and branches, but not exceedingthe actual cost, and for additional terminals, equipm ent, double tracks, A c.
V. 76, p. 543, 600, 1085; V . 77, p. 1875, application to list, V . 77, p.
2036, 2049; see also V . 85, p. 222; V . 86, p. 230; V . 87, p. 167; V . 89, p. 105.
Pine Bluff A Western guaranteed 5s of 1903, see V. 78, p. 103. 769.
The im provem ent 4s of 1909 ($25,000,000 auth. issue), o f which $5,300,­
000 to be Issued at once, will be used for Im provem ents, additions, A c .
T hey Will be purchased b y the Mo. Pac. and pledged under Its “ first A re­
funding” mtge. V . 89, p. 1349, 1543. See that com pany above.
E A R N IN G S .— 5 m os.,1 1909______ Gross, $11,098,837; net, $4,068,721
July 1 to N ov. 30.
] 1908______ Gross,
9,624,267; net, 3,363,031
R E P O R T .— R eport for 1908-09 in V . 89, p . 1539 (comparisons with
1906-07 are Inaccurate)
Y e a r s e n d i n g J u n e 30—
1908-9.
1907-8.
11906-7.
Miles operated end o f y e a r .......... ......
2,609
2 ,5 0 9 '
2,594
Gross earnings..............................
$23,242,235 $21,793,294 $23,087,020
7,424,035
Net earnings........... ......................
6,797,606
8,024,646
Other receipts_______ _______________
602,597
l,505i557
1,918,76k
Total net incom e--------------------------------- 8,026,632
8,303,163 10,843,411
4,616,952
4,577,455
4,452,571
Interest on bon d s___________________
Taxes, bridge expenses, rentals,A c . .
1,607,524 1,367,556
1,316,478
D iv id e n d s -----------------------------(4)1,775,645 (5)2,219,556(10)4438,992

Balance, surplus for year___
$26,511
$138,596
$635,370
— (V. 87, p. 39. 167, 679; V. 88, p . 565, 749; V . 89, p. 105, 226.)
MOBILE & BIRMINGHAM R R .— ( S e e M a p S o u t h e r n R y .)— Mobile to
Marlon Junction, Ala., with branches, 150 miles. Leased to Southern R y.
from March 1 1899 for 99 years, the latter agreeing to meet the Interest on
bonds and to guarantee a dividend on the $900,000 pref. stock of 1% for
first year, 2% for second year. 3 % for third year, and 4% for fourth year
and thereafter, o f the $900,000 com m on stock, $893,400 Is owned b y
Southern R y ., and voting power on pref. assigned to Southern R y . during
lease. V. 68, p. 429, 1134: V. 69, p. 391: V. 71, p. 1013.— (V . 72, p. 137.)
MOBILE JACKSON & KANSAS CITY.— See New Orl. M ob. A C hlcagoMOBILE & OHIO RR. — (See M a p S o u t h e r n R y . ) — Owns from M obile,
Ala., to Columbus, K y ., 472 m ., proprietary line. K entucky A Tenn R R .
to East Cairo, 21 m .; branches to Columbus, Miss., A c., 34 m .; Columbus,
Miss., to M ontgom ery, Ala., 167 m .; Mobile A Bay Shore Branch. 38 m .;
with W arrior Branch, 9 m .; Warrior South. R y. (all stock and bonds
ow ned), Searcy, Ala., to Kellerman, 14 m .; Blocton Branch, 12 m .; total
T otal net incom e----------------------------- 514,153,073 515,467,713 519,471,555 owned. 766 m .; St. Louis A Cairo (leased), Cairo to St. L ., 152 m . with br.
Interest and rentals-----------$9,380,307
59,145,189 $9,060,875
to Mtllstadt, 7 m .; trackage, 189 m .; total June 30 1909, 1,114 m. Oper­
T a x e s ------------------------------------------------1,715,758
1,644,057
1,483,949 ated Independently.
Sundry a ccou nts----------------------1,992,499
1,692,751
1,228,628
D IV ID E N D S .— 1898, 1 % ; 1 9 0 3 ,2 % : June 1904, 2 % ; 1 9 0 5 ,4 % ; 1906,
D ividends------------------------------------------------------ ------1,935,210
3,890,875
5 % ; 1907, 5 % ; 1908, 4 % ; 1909, June, 2 ) 4 % .
R ate of divid end ...................... ............................ ........
(2 )3 % )
(5 % )
In 1909 the Southern R y. had acquired 58,104,000 of the $9,472,000general 4s and $5,670,200 o f the $6,070,600 stock. Issuing, dollar for dollar,
Balance, surplus---------------------------- 51.064,509 $1,050,506 53,807,228 its collateral trust 4% gold bonds in exchange for the M. A O. general 4s,
Pres., George J . Gould- Sec. and Treas., A. H . Calef, 195 B 'w ay, N. Y .
secured b y a pledge of the latter and also stock trust certificates for stock,
Directors— George J. Gould, Edwin Gould, Edward T . Jeffery, J. J. dividends being payable (A A O) at 4 % In perpetuity thereafter
Slocum , H oward Gould, Fred. T . Gates, Frank J. Gould, K lngdon Gould,
STO C K .— Stock authorized, 510,000,000; outstanding, $6,070,600; par,
R . M. Galloway, Cornelius Vanderbilt, H . B. Henson, New York; Charles
S. Clarke, O. L. Garrison, W . K . B lxby, St. Louis, Mo. New York office 5100. The voting power on 54,984,200 of the stock Is exercised b y the gen­
eral mortgage bondholders by virtue of deposit of old debentures of 1879.
(now 195 B w a y .), to be 165 B w ay. shortly.— (V . 90, p. 237.)
B ON DS.— Under the general m o r t g a g e of 1888 there can bo no foreclosure
PACIFIC SYSTEM— ST. LOUIS IRON MOUNTAIN &
four coupons are In default. Mortgage abstract, V . 47, p. 83. V. 60,
SOUTHERN RY.— (S e e M a p . ) — Owns St. Louis to Texarkana, T ex. Line till
p. 967. Int. on $4,000,000 St. Louis A Cairo 4s Is guaranteed. The 5%
490 miles; branches to Belm ont, M o., Bird's P t.. Mo. (Cairo), Camden,
notes dated Oct. 1 1907 are guar, b y Am.Car A F dy.C o. V. 84. p. 996,
A rk., Helena, A rk., Cushman. A rk., Arkansas City, A rk., W arren. A rk., equip,
Of the 52,500.000 collateral trust 4s of 1900, 52,167,000 were Issuable In
Memphis, Tenn .. A c.; Houston Central Arkansas & Northern R y., Me Ghee.
exchange for the 56,500,000 St. Louis A Cairo stock. See V . 70. p. 532. In
A rk., to Alexandria, L a ., 262 m .; W hite River branch. Illinois Division.
1909 $6,495,000 stock had been exchanged.
Memphis Helena A Louisiana, East & W est Illinois R y.. 1,544 m .; total
M a tu r e in In s ta llm e n ts.
O u ts ta n d in g .
R a te.
owned July 1 1909, 2,296 m. Leases Little Rock Junction R R .; Kansas A D a t e —
T o 1919
“ A” and “ B” .................... $998,000
5
Arkansas Valley R R .. A c., 312 m
Total operated July 1 1909. 2,608 m.
Mch. '10-M ch. ’ l l , part s-a
267,000
5
The stockholders will vote Feb. 2 1910 on (1) purchasing the Arkansas “ C ,” 1904...........................
July'10-July '15, 534,000 s-a
369,000
4 '
IJd ’ LIttle RocI< & R o t Springs W estern, Little R ock Junction, Pine ” D,” 1905........
Mch ' 1 0 - M ch.'16, $46,000 s-a
594,000
4)4
Bluff A W estern, St. Louis W atkins & Gulf, Arkansas A Louisiana and other •*E.” 1906........................
O ct. T O -O ct.’ 14, part s-a
921,000
5
controlled roads; (2) Increasing the authorized stock from $130,0C0,000 to 1907, g u a ra n te e d ............
T o Dec. 15 1912
57,000
4
3190.000. 000, and (3) authorizing an Issue of 5% Improvement gold bonds Joint equip, notes, 1902.
Baldwin Locom . W orks.
93.264
5A6
T o 1910
limited to $25,000,000, to be deposited as Issued u der the M o. Pac. “ first
Gross,
$4,306,191; net, $1,362,339
E
A
R
N
IN
G
S.—
5
m
os.,
(1909______
and Im provem ent” bond Issue. V. 89, p. 1543.
July 1 to N ov. 30.
11908________ Gross, 4,042,987; net, 1,349,861
Owns 523,668,000 of the $24,984,750 Texas & Pacific seconds exchanged
for 65% in gold 4s. See “ B onds.”
R E P O R T .— R ep ort for 1908-09 In V. 89, p. 1219.
Y e a r s e n d i n g J u n e 30—
1908-09.
1907-08.
I n c .'o r D e c .
ST O C K .— Stock authorized, $130,000,000; to be increased to $190,­
+ $63,936000,000 (see above): outstanding, $44,390,573, of which $44,336,600 June Total operating revenue..........................$9,727,727 $9,663,791
N e t o v e r t a x e s ........... ...........
2,865,076
2,541,322
+ 324,654
30 1909 owned b y Missouri Pacific. See below.
Net Including other Incom e_________
3 ,0 6 8 , 5 8 4
2 ,715,772
+ 35 2 ,8 1 2
D IV ID E N D .— In 1899, 2 % ; 1900, 6; 1901, 6: 1902 to 1904, 10 yearly
Interest, rentals. A c ____________
2,631,146
2,240,852
+ 381,294
1905, 7; fiscal year 9105-06, 14; 1906-07, 10; 1907-08, 5; 1908-09, 4 % .
(5)301,030
(4)240,824
+ 60 ,20 6
Dividends paid........... ...........
B ON DS.— General consolidated m ortgage Is for 545,000,000. Nos. Additions and betterm ents___________
19,446
150,606
— 131,259
11,001 to 18,000 Inclusive are endorsed with the Missouri Pacific guaranty of
principal and Interest: form of guaranty was In V .56, p. 650; they are a first
Balance, surplus__________
$116,062
$74,400
— $42,562
Ben on 1.538 miles. (V. 68, p. 85, 233, 520; V. 78, p. 704, 1224.)
— (V . 86, p. 603, 1590; V. 87, p. 1158; V . 89, p. 1142, 1219.)
Tne eolcl 4s of 1899 (first Issue 530,000,000) m ay be Increased not over
M
O
H
AW
K
A
MALONE
R
R
.
—
(
S
e
e
M
a
p
s
N
e
w
Y
o
r
k
C
e
n
t
r
a
l
.
)
—
Owns
from
510.000.
000, at $12,000 per mile, for construction or acquisition and equip­
Herkimer, N. Y .. to Malone, with branches, 182 miles In all.
m ent of branches and extensions. They are secured by a lien (subject only
H
IS
T
O
R
Y
,
L
E
A
S
E
,
A
c.—
New
York
Central
owns
the
$5,000,000
stock,
to the general consols) on all the railroads, terminals and equipment of the
on which dividends o f 4 % yearly are paid. In 1902 a new lease In per­
com pany owned at the time of the making thereof and also a first and only
petuity was made and 510,000,000 3 % consols authorized, of which $2.­
lien on all stocks and bonds form erly embraced In the trust o f the gold fund­
500,000
reserved to retire at m aturity the first mtge. bonds and $3,600,000
ing note Indenture, all leased and branch lines, or their bonds and stocks
tor Improvements and enlargements.— (V. 74. p. 630, 830, 937.)
acquired by the loan, and $23,668,000 Texas & Pacific seconds, future exten­
“
AlONON.”
— See CHICAGO IN D IA N A P O L IS A L O U IS V IL L E R Y .
sions, A c. (V. 68. p. 619; V. 70, p. 997; V. 74. p. 206; V. 78. p. 704, 1224.)
There are also $37,905 first pref. 7% income bonds dated 1879.
MONONGAHELA R R .— Brownsville, P a., to Redstone J et., 37 m iles,
The River A Gulf Divisions 4s of 1903 (present Issue $20,000,000) will be
connecting with the Pittsburgh A Lake Erie and Pittsburgh Virginia A
secured b y a first lien on 677 miles of road built or under construction (see
Charleston (Penn. svst. lines). which guarantee the bonds (see table a b o v e ).
above) and on terminal property at St. Louis, East St. Louis, Cairo and
prln. and Int. b y endorsement. S tock, 51,428,000; par, $100. Penn. R R Thebes, and 8,000 acres of coal lands In Illinois, and deposit of the bonds of
and Pittsburgh A Lake Erie each own $714,000 stock. The Penn. R R . on
°* Memphis. Additional bonds m ay be Issued up to a total
Jan. 1 1909 owned $686,000 of the bonds
Year ending June 30 1909„
of $50,000,000 at not over $30,000 per mile of main line for new construc- gross. $930,906; net, Incl. other Income, $531,991; charges, $412,634.




J an .. 1910.]

RAILW AY STOCKS AND BONDS

C5




RAILWAY STOCKS AND BONDS.

92

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., s e e n o te s o n fir s t p a g e]

M ile s
R oad

Mobile & Ohio— ( C o n c l u d e d )—
St Louis & Cairo first mortgage gold Interest g u a r.c
Mobile & B Sh 1st M $200,000 assumed g o ld -.F .c *
First M coll notes (V 86 p 603) g red par----------G.xc*
Moh & Mai— 1st M $15,000 p m g gu p & 1 (en d ). K c*
Consolidated m ortgage $10,000,000 gold ___G.c*&r
M onongahela R R — First M $1,500,000 join t guaranty
M onongahela River R R — Bonds— See B & O R R
Montana W yom ing & Sou— 1st M g red 110 t e x t -.c *
M ontgom ery & Erie R y— 1st M (old 7s extended ln’ 86)
Morelia & Tacam baro— First M gold (see t e x t )_ Usm.c*
M organ's La & Texas— First M (N O to Morg C K F .c*
First m ortgage Alexandria Extension g old ______ F
General m ortgage_________________________________F
Morris & Essex— Stock 7% guaranteed D L & W ____
First mortgage guaranteed under lease__________ Ba
Cons M (for $25,000,000) guar D L 4 W . . . Us.c* &r
First ref M gold $35,000,000 guar p& l(end)-F.c*<Scr

D a te
B onds

Par
V a lu e

1886
1899
1908
1892
1902
1902

500 &c
500 &c
1,000
1,000
1,000 &c
1,000

1909
1866
1903
1878
1880
1893

1,000
1,000
1,000
1,000
1,000
1,000
50
250 &c
1,000
1,000

161
38
182
37
33
55
102
157
204
119
119
119

1864
1875
1900
Var

2
Morris & Essex Extension stock guaranteed 4 % ___
___ 1903
M orristown & Erie— First M $300,000 g s f red at par
____
Mt Carbon & Port C R R — Stock (rental guar) text —
38 1900
Munising— First mortgage g o ld -............ - - -------------37 1886
Muskegon Grand Ranids & Indiana— First M gold-C e
_ - - 1904
Mutual Terminal— 1st M gold s f red 102J4--O.C*
8.5 1896
Narragansett Pier R R — First m ortgage $100,000 -----15 ____
Nashua & Lowell— Stock 9% rental 92 years B & M ._
__
____
Nashville Chattanooga & St Louis— S tock ----------------340 1873
First mortgage (for $6,800,000)-----------------------c*&r
125 1877
First M on Fayette and McM brs ($6,000 p m) _c* <5cr
29 1877
First m ortgage on Lebanon B ranch--------------------- c*
43 1883
First mortgage on Jasper Branch . --------------- Ce.c*
First m ortgage on Ccntrcvllle Branch gold -C e.c*& r
46 1883
1st M Tracy Cy Br due $20,000 yly; rem 1917-C*&r
20 1887
Cons mtge ($20,000,000) $20,000 p m gold — Us.c*
803 1888
Nashville & Decatur— Stock guar 7 > 4 % b y L & N —
119 ; ____
Nashville Florence & Sheffield— See Louisville & Nash ville
1902
Nashville Term inal— First mtge gold Int rent red 1051909
National Railways of Mexico—
Com stock $75,000,000 U S g o r 150.000.000 Mex nes

100
1,000
50
1,000
1,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
25
1,000

at a connection with the Northern Pacific to Belfry and westerly to Bear
Creek, about 33 miles, serving a coal district; also Brldger, Montana,
to Clark’s Ford, 30 miles, being the Yellowstone Park Railroad, acquired
Septem ber 1 1909. Extension proposed southerly down Clark’s Fork
Valley to B ox Canyon and westerly to Cooke City, where copper, sil­
ver, lead, & c., mines are located. Stock outstanding, $1,000,000. Of
the first gold 5s, $900,000 have been Issued on the present road, 33
miles, and additional bonds are Issuable at $25,000 per mile. Inclini­
ng equipm ent, provided the earnings are 1 H times the Interest charges
on bonds, Including those to be Issued on proposed extension. If road Is
acquired or leased by another road, the latter must guarantee the bonds,
principal and Interest. Sinking fund beginning 1912 will retire a large
part of the Issue. V . 89, p. 470. For year ending June 30 1909, gross,
$138,000: net, $80,000; Interest on $900,000 bonds, $45,000; balance,
surplus, $35,000. Pres., Frank S. Gannon.— (V . 89, p. 470, 1281.)
MONTGOA1ERY & ERIE R Y.— ( S e e M a p E r i e R R .')— Owns M ontgomery
to Goshen. N. Y ., 10 miles. Leased In 1872 to Erie R R . at $16,000 per an.
S to ck ,$1 50,000. D lvs. (4 X % per an.) paid May 10 and N ov. 10. S in k,
fund, $6,500 per an. There are $40,500 2d M. 5s due O ct. 1 1927.
MORELIA & TACAA1BARO.— See issue o f July 1909.
M ap

P a c i f i c . ) — R O A D .— Owns Algiers to Cheneyvllle, 205 miles;
branches, 122 m .; tntfekage to Alexandria, 24 m .; total railroad lines, 351 m .;
steamship lines and ferries, 106 m. Extensions to Port Allen, L a., <Ssc.,
63 m .. were m ostly com pleted N ov. 1909.
O R G A N IZ A T IO N .— The So. Pac. Co. owns all of the $15,000,000 stock,
but road oper. Independently. D Iv., 6 % , paid In 1905-06;In 1906 -07, 10% ;
In 1907-08, 25% ; In 1908-09, 4 % .
E A R N IN G S .— 5 m o s.,/1 9 0 9 .............G ross, $2,007,277; net, $701,544
July 1 to N ov. 30. 11908..............G ro s s , 1,928,043; net, 541,700
In year ending June 30 1909, gross, $4,649 527; net, Including other Inoome, $1,422,155; surplus over charges, $756,192.— (V . 76, p. 543 )
AlORRIS & ESSEX RR.— ( S e e M a v o f D e l a w a r e L a c k a w a n n a & W e s t e r n . )
— Owns from H oboken, N. J ., to Phtlllpsburg, N. J ., 85 miles; branch,
Denvllle, N. J ., via Morris & Essex Tunnel, to H oboken. N. J ., 34 miles;
leases 38 miles; total operated, 157 miles.
LE ASE D In perpetuity to Delaware Lackawanna & W estern, which
assumes all liabilities and guarantees 7 % per annum on stock: 1% extra Is
payable In the event of 30% of gross earnings being sufficient to pay all
fixed charges and 10% on outstanding stock.
B O N D S.— 1st ref. 3 H s, see V . 70.p. 480,477; V . 71,p. 1167;V . 7 4 ,p .1308
E A R N IN G S .— Im portant to D. L. & W . with terminal facilities on N. Y .
H arbor, but the earnings show a deficit after paym ent of rental (Including
$1,050,000 dividends), viz.: In 1908. $789,564; In 1907, $761,634: In 1906,
$888,526; In 1905, $585,394: In 1904. $673,172.— (V . 74, p.1308; V.82.P.805)
MORRISTOWN & ERIE RR.— Owns Morristown, N. J., to W hlppany
4 m . ; b r , O H rn. Stock, $400,000; par, $100. Year 1906 gross, $62,550
net, $24,168. Pres., R . W .M cE w an , 11 B roadw ay,N . Y .— (V . 7 7 ,p . 511.)
AlOUNT CARBON & PORT CARBON RR,— Owns Mt. Carbon to Port
Carbon, P a.. 2.50 m .; 2d track, 2.45 m .: total track. 15.49 miles. Leased
Mch. 5 1860 for 50 years to Phlla. & R ead. R R . and lease assumed In 1906 by
Phlla. & R ead. R a i l w a y . The stockholders voted June 30 1909 to make
a new lease to the Phlla. & Reading for 99 years from March 5 1910 at
5 % on the stock. V . 89, p. 42. Rental, $36,250 yearly.— (V. 89, p. 42.
o f S o u th ern

MUSKEGON GRAND RAPIDS & INDIANA RR.— See pagj 173.
NASHUA & LOWELL RR.— Owns double-track road from Lowell, Mass.,
to Nashua, N. H ., 15 miles. On O ct. I 1880 leased for 99 years to Boston
6 Lowell. In 1887 lease was transferred to Boston & Maine, which pays
a rental o f $73,000 (9% on stock ); In N ov. 1906 to 1909 Incl., H % extra
was paid from accumulated cash surplus.— (V. 83, p. 970; V . 85. p. 1005.)
NASHVILLE CHATTANOOGA & ST LOUIS R Y.— (See M a p . ) — Owns
from Chattanooga, Tenn., to H ickm an, K y ., 320 m .; branches to Lebanon,
& c., 519 m .; leases Western & Atlantic, Chattanooga, T enn., to Atlanta,
Ga.. 137 m ., and Memphis & Paducah Division o f the L. & N ., 254 miles.
See V . 71, p. 544, 664, 864. Total operated July 1 1909, 1,230 miles.
O R G A N IZ A T IO N .— A m ajority of the stock ($7,177,600) Is owned by
the Lou. & Nash., of which $5,501,500 Is pledged under Its mtges. W est.
& A tl. Is leased from State of Georgia till Dec. 27 1919 at $420,012 yearly.
D IV S. 1 ’93. ’94. ’95 t o ’98. '99 t o ’03. ’04. ’05. ’06. ’07. ’08. ’09. 1910.
since 1893f 3 % 3 'A 4 yearly.
None.
4
5
5
6 5>S
5 F eb., 3
BO N D S.— Consol, mtge. of 1888 provided that all prior bonds should be
paid off at maturity; sufficient of the $20,000 p. m. are reserved for them.
Jointly with Lou. & Nash, guarantees $2,500,000 L. & N. Terminal Co.
bonds. See Lou. & Nash. V. 75, p. 1354. $11,000 Aetna Iron, M fg., M. &
Oil 6s. V . 77, p. 2390.
E A R N IN G S .— 5 m os., 11909............... Gross, $4,780,180; net, $1,284,843
July 1 to N ov. 30.
)10O8________ Gross, 4,633,757; net, 1,161,961
A N N U A L R E P O R T .— R eport for 1908-09 was In V . 89, p. 718.
Y e a r s e n d . J u n e 30—
1909.
1908.
1907.
1906.
1,230
1,230
1,230
1,226
Mileage end of year____
Gross earnings,............ ..$1 1 ,1 1 2,1 14 $10,738,252 $12,238,472 $11,120,982
2,508,310
2,766,069
Net earnings___________
2,771,413
2,556,153
18,400
Investm ents, & c......... ..
16,458
18,455
18,658
291,983
Hire of equip..rentals,& c.
261,790
NeFUncome..................... $3,049,662 $2,866,794
In t. on debt and t a x e s .. $1,191,002 $1,189,360
Rentals .............................
626,518
626,607
M iscellaneous__________
46,000
56,000
D lv . on Stock__________ (5)499,232(5 W 5 5 0 ,000
Additions to p ro p e rty ..
33,115
155,036
Balance,{surplus..........




$653,795

$289,790

$4,000,000
200,000
600,000
2,500,000
3,900,000
1,372,000

R a te

%

L a st D iv id e n d
a n d M a tu r ity

P la c e s W h e r e I n te r e s t a n d
D iv id e n d s a rc P a y a b le

&
J
J Jan 1 1931
M & N May 1 1949
F & A 15 Feb 15 1911
M & S Sept 1 1991
S Mch 1 2002
3H g M &
3H g A & o Oct 1 1942

4
5
5
4

Farmers’ L & T r Co, N Y
First Nat Bk, Mobile, Ala
Guar Trust Co, New York
Knickerbocker Tr C o,N Y
Grand Cent Station, N Y
Treas. o ff., P itts b ., Pa.

g
g
g
g

900,000
5 g
130,000
5
1,200,000
5 g
5,000,000
7
1,494,000
6 g
5
1,000,000
7
15,000,000
7
5,000,000
11,677,000
7
13,600,000
3 X g
1,800,000
4H
221,000
4
250,000
5 g
282,350
12
160,000
4 g
750,000
5g
3,419,000
4 g
70,000
4
800,000 See text
10,000,000 See text
6,300,000
7
6
750.000
6
300,000
371,000
6 g
376,000
6 g
6
219,000
7,608,000
5g
3,573,750
7H
1,000,000

W h en
P a y a b le

5 g

M &.
M &
&
J
A &
&
J
&
J
&
J
M &
&
J
&
J
J
&
M &
Al &
J & J
A &
&
J
J
&
F &
M &
F &
&
J
&
J
J &
&
J
&
J
&
J
A &
&
J
J

&

s
N
J
o
J
.)
J
N
D
D
J
N
S
15
()
J
J
A
N
A
J
J
J
J
J
J
O
J

Sept 1 1939
May 1 1926
Jan 1 1943
Apr 1 1918
July 1 1920
July 1 1913
Jan 31910 3 h
May 1 1914
June 1 1915
Dec 1 2000
1912
N ov 1909 2%
Sept 1 1923
Jan 15 ’ 10 6%
Oct 1 1925
July 1 1926
July 1 1924
A ug 1 1916
N ov 1 1909 5
Feb 1 1910 3%
July 1 1913
Jan l 1917
Jan 1 1917
Jan 1 1923
Jan l 1923
Jan 1911 to ’ 17
A pr 1 1928
Jan 1910 3 H %

J Jan 1 1932
May 1 1949

Empire Tr Co. N Y
Goshen, N Y
U S Mtge & T r Co, N Y
S P Co, 120 B’ w ay, N Y
do
do
do
do
Del Lack & Western, N Y
do
do
do
do
do
do
(tdo
do
B rooklyn Trust Co, N Y
Reading Terminal, Phlla
American Trust Co, Clevo
July 1909 paid Dec 1909
R I Hospital Tr Co, P rov
Indian Hd Bank, Nashua
New York and Nashville
Hanover Nat Bank, N Y
Hanover Nat Bank, N Y
do
do
do
do
do
do
do
do
do
do
Nashville
Mercantile Tr Co.StLouls

74,791,367

MONTANA WYOMING & SOUTHERN RR.— Owns from Brldger, M ont.,

MORGAN’ S LOUISIANA & TEXAS RR. & STEAAISHIP CO.— ( S e e

A m ount
O u is ia n d in g

[V O L . L X X X X .

$2,526,710
$1,167,871
626,460
26,000
(6)600,000

$2,784,524
$1,169,670
624,862
36,000
(5)500,000

$106,379

$453,992

Pres., John W. Thom as Jr.; V .-P ., II. F . Sm ith; Chairman of B oard,
E. C. Lewis.— (V . 88, p. 52; V. 89, p. 408, 718; V. 90, p. 167.)

NASHVILLE & DECATUR RR. —

(S e e M a p

L o u is v ille

A

N a s h v ille .)—

Owns from Nashville, Tenn., to Decatur, A la ., 119 miles. Re-leased to
Lou. & Nash. In 1900 for 999 years, the rental being 714% on stock. The
Lou. & Nash. July 1 1909 owned $1,979,600 of the stock .— (V . 70, p. 1195.)
NASHVILLE TERMINAL RR.— Owns bridge across the C u m berla n d
River and 18 in. of track. Leased for 99 years from May l 1902 to T e n n .
Cent R R ., which owns entire $1,000,000 stock. In Dec. 1909 filed a mtge .
to secure $3,000,000 bonds, of which $1,000,000 reserved to retire t h e
$1,000,000 first 5s of 1902. None sold Jan. 1910. V . 80, p. 1668.— (V . 8 9 ,
p. 1668.)
NATCHEZ & EASTERN RY.— See Mississippi Central.
NATIONAL RAILWAYS OF MEXICO. — ( S e e M a p ) — Comprises:
S ta n d a rd G a u g e— O w n ed .
M ile s .
L ea sed —
M ile s .
11
Laredo to City of M exico______ 802 Mexican Union R y ____________
Mexico City to Juarez C ity____1,224 Bar extension (T am pico to La
6
Mexico to Rio Balsas__________ 182
Barra)_______________________
Clntura, & c., lines (3-rall track)
Total standard gauge_______ 4,8 96
Chlcalote to T am p ico__________ 406
N a rrow G a u ge— O w n ed .
Tam pico to Monterey and Gomez
Palaclo______________________ 548 City of Mexico to Uruanan, & c. 319
Branch— Irapuato to Am eca___ 217 Mexico to Berlstaln & branches 152
L ea sed —
“ Guadalajara to Manzanillo 221
San Juan Jet. to Jaral_________
50 Mlchoacan & Pacific R y ., Ma57
Vanegas to Matehuala_________
41
ravatlo to ZItacuaro_________
Rincon to P ozos______________
37
Total Incl. In earnings______ 5,424
Monterey to Matamoros_______ 20 i
Gonzales to Acam baro_________
53
C o n tr o lled — E a r n in g s s e p a r a te
Jimenez to Rosario____________
96
( s e e s e p a r a t e s l a t e m 't f o r e a c h )
Other branches, & c ._ ..........
628
Mex. Int. (Incl. 24 m. leased). . 918
C o n tr o lled — S e c u r itie s O w n ed .
Intcroc. R y. (Incl. 263 m. leased) 997
Texas Mexican R y ., Corpus
Chrlstl to Laredo, T ex., & c .. 162
.7,339
Grand total (of which 1,468 narrow gauge)
O R G A N IZA T IO N .— Organized March 23 1908 under special A ct of Con­
gress of Mexico, per plan In V. 86, p. 918, 982.
The properties of the National R R . o f Mexico and Mexican Central have
been acquired by deeds, operation of the same being taken over Jan. 1 and
Feb. 1 1909 respectively. V. 88, p. 452; V. 89, p. 1601. In Dec. 1909 ar­
rangements were being made to take over the Mexican International. V .
89, p. 1597, 1601. Application to list, describing properties, new securities,
& c., V . 88, p. 1318.
The Mexican Government owns $115,023,590 of the $23 0,000,000
authorized stock, viz.: $10,000,000 first preferred, $30,278,290 second
preferred and $74,745,300 com m on stock, and guarantees the'p rin cip al
and Interest of the new general mtge. bonds .V. 87. p. 153 3.
D IV ID E N D .— On 1st pret., 1% A ug. 1908; 1909, Mch. 1, 1 % ; A u g., 1% .
Securities Immediately Issuable
„
, _
,
The amounts of new bonds anil pref shares which the New York Stock
Exchange has agreed to list as soon as Issued (V. 88, p. 1318) arc as follow s:
(The amounts actually listed are shown In table at to p of next page.]
Prior Lien 414% Bonds ($225,000,000 authorized) —
Issuable In part exch. for M ex.C ent.bonds.abt. $70,294,962
Sold for cash___________________________________ 10,000,000
T o Mexican G ov’t on a cc’t of guaranty, & c____ 6,000.000
A cct. $10,000,000 N at. R R . gold notes due
April 1909_____ _______________ ______________
7,200,000
Betterments, equip., retiring equip, obllg., & c . 13,005,000-$106,499,962
The remainder of the auth. Issue of $225,000,000 Is reserved as fo l­
lows; (1) $23,000,000 to retire $23,000,000 National R R . of Mexico prior
Hen 4 14% bonds due Oct. I 1926: (2) $95,500,000 for extensions, additions
and Improvements as shown In V . 86, p. 1319, 919.
The right Is reserved to Issue $6,000,000 additional bonds ranking p a r i
p a s s u with the other bonds of this series, to take up at or before m aturity
£1,200,000 prior lien bonds of the’ Mex. Internat. R R . C o., which see.
The prior lien bonds will be subject to call after Jan. 1 1017 at 105 In
amounts not less than $10,000,000, or for a cum ulative sink, fund sufficient
to retire the entire Issue by maturity.
Guaranteed General M ortgage 4 % Bonds ($ 1 6 0 , 0 0 0 , 0 0 0 a u th .)—
Issuable In part exch. for M ex.Cent.bonds. &o_ $38,565,075
Sold for cash___________________________________
6,750,000
T o Mex. G ov’t on account of guaranty, & c------ 2.450.000
A cct. $10,000,000 Nat. R R . g. notes duo A p r.’09 4,800,000
Betterments, equip., retiring equip, o b llg ., & c. 8,185,925— $60,751,000
The remainder of the authorized Issue of $160,000,000 Is reserved as fo l­
lows: (1) $24,749,000 to retire outstanding National R R . of Mexico first
consol. 4s: (2) $74,500,000 for extensions, additions and Improvements as
stated In V. 86, p. 1320, 919.
The right Is reserved to Issue additional b ond s, ranking p a r i p a s s u with
the other bonds of this series, to take up or retire at or before m aturity an
equal amount of the consol, mtge. bonds of the Mexican International R R .
The general mtge. bonds will be subject to call at par In amounts not less
than $10,000,000 after April 1 1927; also on and after O ct. 1 1937 for a cum ­
ulative sinking fund, which Is to retire entire Issue not later than 1977.
First Preferred Shares ($30,000,000 authorized)—
To be exch. for $23,832,900 Nat. R R . of M ex. p f.s tk ., 100% -$28,832,900
T o assure to the 1st pref. shares seml-annu al dlvs. o f 1% for 3 years from
Jan. 1 1908, to the extent to which the n e t profits shall not be sufficient
to make such paym ent, provision Is to be made for the setting aside b y the
com pany, as a separate fund, of $ 1 ,8 0 0 , 0 0 0 prior lien bonds and $1,200,000
guaranteed gen. mtge. bonds, or sufficient proceeds thereof.
Second Preferred Shares ($125,000,000 auth.) —
Issuable In part exchange for Mex. Cent. R y . 4%
bonds and Income bon d s__________________ $41,416,234
For Mex. C ent.R y. stock ($59,127,100), 100% 59,127,100
A ccount of Nat. R R . of Mexico stock _________ 24,456,666— $125,000,000

RAILWAY STOCKS AND BONDS.
i9io.|
•t a n .,




94

RAILWAY STOCKS AND RONDS,

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c . , s e e n o te s o n fir s t p a g e]

National Railways of Mexico ( C o n c l u d e d ) —
First pref stk $30,000,000 4 % n-c (also as to assets)
2d pref stock $125,000,000 5% n-o (also as to assets)
Prl lien M U S g red 105 beg ’ i7 (see text) .C e.x c* &r*
General mtge U S gold redeem par (text) guar. Nxc*
! Nat. RR of Mex prior lien M gold call 105____Un.c*
First consol M $60,000,000 gold (see tex t).C e,c*
Mexican Central— First mortgage Including scrip__
Priority bonds gold redeemable at 110.....................
Consolidated mortgage $32,000 p m goldB B.c*& r
First cons Inc f t scrip n-cum ($9,600 p m) g_ AB.c*
2d cons lnc($6,400 p m )red 5 0 % t o Aug 1920AB.C*
Registered Income bonds and scrip un assen ted -.r
Car and locom otive rental notes______
.
Equipm ent 5s $50,000 redeemable yearly at par.
do ($50,000 yearly par) red 102
beg 'lO .O B .c*
N augatuck — See New York New Haven & Hartford
N evada-California-Orcgon — First mtge $1,500,000 g .
Nevada Central — 1st M gold non-cum Inc (sink fd )-C e
New England— See New York New Haven & Hartford
New Haven & N orthampton — See New Y ork New Ha
New Jersey Junction— First M guar $ 4 ,0 00 ,0 0 0 -O.c&r
New Jersey & New York— See Erie R R Co
New Jersey & Pennsylvania — Tem porary M $200,000
New London Northern — S t o c k _________ ______________
Consol mortgage (now first M) ($688,000 are 4s) _ .c *
W est R iver first mortgage guaranteed prln and lnt.
New Mexico Cent— S Fe Cent 1st M $2,500,000 g PPic*
New M exico Ry & Coal — See El Paso & Northeastern
New Orleans Great Northern — First M gold — K .c*& r
New Orl Mobile & C h ic—Com stk $25,000 per m ile ..
Preferred stock 6% $5,000,000 ($5,000 per m ile )..
First mortgage $30,000,000 ($30,000 per m ile)____
New Orleans & North Eastern — Stock $6,000,000____
P rior Hen mortgage g o ld _______ ______________ Cc.c*
First mortgage gold ____________________________ F c*

M ile s
R oad

1,284
1,514
3,407
3,407
3,407

184
94
ven

Co

ft

5

D a te
B onds

Par
V a lu e

1907
1907
1901
1901
1881
1889
1889
1889
1889
1881

$, £ &c
&C

500 &C
500 &c
1,000
1,000
1,000
1,000
1,000
1,000

1897
1899

1,000
1,000

1899
1888

1,000
1,000

Hartfo rd
1886

26
121
121
35
117

1880
1905
1901

241

1905

196
196
196

$. £

1907

1908
1885
1881

R a te

%

W h en
P a y a b le

580,000
750,000

5g
5 g

fc

5g

F

ft

E

NEW ORLEANS FORT JACKSON & GRAND ISLERR.— V 88, p. 375.
NEW ORLEANS GREAT NORTHERN RR.— ( S e e M a p . ) — New Orleans,
L a ., to Jackson, Miss., 182 miles, with branches, R io, L a., to Tylertow n,
Miss., 41 m .; Slidell, L a., to Folsom , L a., 47 m ., making a total of 270 miles
operated, Including 29 m. trackage New Orleans to Slidell, La. Entrance
Into Jackson, Miss., com pleted July 1 1909, on which date entire mileage
was turned over to operating departm ent. Stock, $4,242,200.
Of first mortgage bonds ($10,000,000 authorized), $7,500,000 have been
Issued for construction and equipm ent. V . 81, p. 841.
E A R N IN G S .— 5 m o s., ( 1 9 0 9 ...................G ross, $548,148; net, $187,084
July 1 to N ov. 30.
\ 1908*_________ Gross,
218,691; net,
33,489
• Operation of 107 miles.
O F F IC E R S .— Pres., Charles W . Goodyear; 1st V .-P . and Gen. Counsel
M. E . Olmsted; 2d V .-P . and Sec., C. I. James; Treas., F. A . Lehr; Gen.
M gr., N . G. Pearsall. Directors: Messrs. Goodyear, James, Olmsted
Pearsall, I. C. Enochs, C. K . Mulllngs, G. M. W hitney, G. C. Llgon and
C. W . Goodyear Jr.— (V . 86, p. 1530; V . 88, p. 1197.)
NEW ORLEANS MOBILE & CHICAGO RR.— Operates:
R oaC M ile s . I
R oad—
M ile s .
M obile. A la., to Middleton. Tenn.369 ElllsvlIIe Jet. to ElllsvlIIe, M is s.. 6
B eaum ont, Miss., to Hattiesburg. 2 7 1
----Total (100 m . 60-lb. and 302 m. 70-lb steel), lncl. Gulf & Chicago___402
O R G A N IZ A T IO N .— Successor Dec. 1 1909 per plan V. 85, p. 1577; V . 87,
p. 1664, to Mobile Jackson f t Kan C’y and Gulf & Chicago, sold In foreclosure
A ug. 23 1909. V . 89, p. 529, 919. It Is proposed eventually to extend
the system to the Ohio R iver on the north and to New Orleans on the south.
A syndicate formed by the Interests now in control agreed to assume
the floating debt of the old companies, aggregating $1,534,262, a ccep t­
ing as security $1,534,263 In bonds and $153,426 In new pref. stock. Of
the bonds, $17 910,000, together with $2,985,000 pref. and $14,925,000
Com stock, will be reserved for new m leage. Of the securities Issuable

Old Col Tr Co, Bost& Lon

N Y Central

fc

J

Net Incom e_____ _____ $21,024,723
Total deductions______ $20,974,253
D ed u ct—
T a x e s __________________
$278,588
Balance, surplus, carried to balance sheet---------------------------$50,470
* Operating expenses In 1907-08, before consolidation, were $35,355,649.
Chairma • of Board, Lie. Jose Ives Lima tour; Vice-Chairman, Lie.
P ablo Maccdo; Chairman New York L cal Board, II. Clay Pierce;
res.,
E. N. Brown. ,N Y. office, 25 Broad S t.— (V. 89, p. 1597, 1601, 1661.)
NE V AD A-C ALIFORN IA-OREG ON R Y .— R eno. N ev.. to Alturas. Cal..
184 miles, of which Madeline toLIkely, 20 miles, opened O ct. 1 1907, and
20 miles, from Likely to Alturas, com pleted Dec. 1908. Extension proosed 58 miles to Lakevlew, Ore. The Sierra Valleys H R ., Plumas to Moawk, Cal., 37 miles, was acquired at foreclosure sale Jan. 30 1909, the stock
of new co. to be ow ned, V. 88, p. 452. Stock, com ., $1,450,000; pref.,
$750,000, all out. A fter 5% on com ., both stocks share pro rata. Dlv. on
pref. A ug. 1906, 3 % ; A ug. 1907, 4 % ; A ug. 1908 and 1909, 5 % . Dividend
on com m on stock, 1 % , paid A ug. 1909.
R ep ort for year 1908-09 was In V . 89, p. 843, showing, gross, $406,668;
net, $228,857: other Income, $14,663; ln t., taxes, & c., $55,149; dlv. on pref.
(5 % ). $37,500; dlv. on com . (1 % ), $14,500; bal., surplus, $136,341. Pres.,
D . C. Moran, 68 W illiam S t., N. Y .— (V . 89. p. 779, 843.)
NEW JERSEY JUNCTION RR.— Terminal road through Jersey City,
H oboken and W echawken, about 5 miles. Leased for 100 years from June
SO 1886 to N. Y . Central, which guarantees bonds and owns $100,000 stock.
NEW JERSEY & NEW YORK R R — Owns from Erie Jet., N. J ., to
Garnervllle. N. Y .. 29 miles; branches to New C ity, & c., 5 m .; operates to
H averstraw, & c., 14 m .; total operated, 48 ndlcs. Erie R R . In April 1896
purchased control. S tock, $1,440,800 com ., $787,800 pref.; par, $100. Con­
trol Is with pref. stock and 1st mtge. till 6 % has been paid on pref. for three
years. Year ending June 30 1909, gross, $634,552: net, $193,567; other
In c.,$2,2 13; ln t., rentals, & c.,$181,657; bal., su r.,$14,134.— (V .65, p.822.)
NEW LONDON NORTHERN RR.— Owns from New London, Conn., via
B rattteboro, V t.. to South Londonderry, V t., 158 miles.
L E A S E D for 09 years from Dec. 1 1891 to Central Verm ont. The rental
Is $213,552 perannum , whlchleavesa small surplus after providing for Inter­
est, & c.. and 9% dividends. Taxes and Improvements met by lessee. In
Feb. 1909 applied for permission to Issue $1,500,000 bonds to refund out­
standing bonds due July 1 1910. V. 88. p. 506.
D IV ID E N D S .— 1888 to April 1892, 7% yearly, then 8 % yearly to 1893,
and since to Jan. 1910 (Inc.), 2 ) 4 % quar. (9% per a n .)— (V. 88, p. 506.)

do

A Feb 1 1986

F

5
9

100
1,000
1 000

do
None paid
do
do

do
do
do
do
Boston

Moran Bros, New York
13A % paid Feb 1909

4

7.500,000

do
do
do
do
London and

N May 1 1919
J July 2 1938

1,700,000

1,000 &c
100
100

Office, 25 Broad St, N Y

ft
fc

See text
1,500,000
1,500,000
75,000
2,000,000

4 & 5
4
5 g

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a re P a y a b le

M
J

1,000

1,000

L a st D iv id e n d
a n d M a tu r ity

$28,830,200
Aug 10 1909 1%
123,822,300
84,783,177
& ,T July 1 1957
4H g J
50.650,100
A & O Oct 1 1977
4 g
23,000,000
fc
J Oct 1 1926
4M g J
24,740,000
A f t o Oct 1 1951
4 g
41,085 (7) 4
.1 f t
J July 1 1911
1,420,000
,r f t
.1 July 1 1939
5 g
3,661,000
ft
j
J July 1 1911
4 g
800,400
July 10 Jan 10 1939
3 g
65,000
3
Jan 10 1939
11,200
3
July 1 July 1 1911
1,703.677
400,000
A f t o Apr 1 1917
5 g
500,000
A f t o Oct 1 1919
5 g

1,000
100
1,000

Ot the $15,740,000 Mexican Central R y . 4-ycar 5% gold notes due July
1010, $7,360,000 were called for redem ption July 1 1909 and the remaining
$8,380,000 on Jan. 1 1910.
Both series of Mex. Cent. Incomes are non-cum . and secured b y one Inden­
ture to the American L. & T . Co. of Boston. First Incomes received 3%
lnt. In 1890, 1891 and 1892: none since. V. 72. p 627. 880; V. 85, p. 40.
Of the Mex. Internat. consol. 4s, $6,501,000 were guaranteed, p. fc 1., by
the Nat. R R . of Mex., the guaranty being assumed b y the National Railways
Co. See that com pany; also V . 75, p. 77.
G E N E R A L FIN A N C E S.— In May 1908 the readjustm ent managers
sold $13,750,000 prior lien 4 H s at 94% and In June 1909 $24,000,000 at
9 5 % , and In June 1908 they sold $29,500,000 general 4s to French bankers.
V . 86. p. 1344; V . 87. p. 38; V. 86, p. 918, 982; V . 88, p. 52, 231, 1438.)
E A R N IN G S .— 5 m os., 11909______ Gross, $19,741,713; net, $7,286,511
July 1 to N ov. 30.
11908______ Gross, 18,612,875; net, 6,713,023
R E P O R T .— First report for year ending June 30 1909 was In V . 89, p.
1593, 1601, 1661 (editorial, p. 1570), showing In Mexican currency, converti
ble Into U. S. currency at 50 cents on the dollar:
M ex, cu r,
D e d u c t i o n s ( c o n .)—
M e x . cu r.
Gross earnings....... .......... $48,805,522 A djustm ’ts, rent’ls&m lsc. $1,162,648
Operating expenses..........*29,166,893 R es’ve for equip, renew’ls 1,340,400
ln t. on bonds, & c______ 16,975,944
Net earnings................$1 9 ,6 3 8,6 29 Transferred to res’ve f d .
63,357
1,386,094 D lv . on 1st pref. ( 2 % ) . . 1,153,316
Other Incom e___________




A m ount
O u ts ta n d in g

[V O L . L X X X X

ft

Hud R iver

D June 1 1927
Q— .
Jan 1910 2 H % New L ondon Office
J f t J July 1 1910
Mechanics Nat. Ilk., N Y
D 85 years
J
fc
J f t D Dec 1 1941
A A ug 1 1955

1958
6,000,000 5 In 1909 Yearly Sept 3 1909 5
1,320,000
6 g
A fc O N ov 1 1915
100,000
fc
J
J Jan 1911
6 g

Fisk & R obinson, N Y

New Orleans, La
Central Trust Co, N Y
Muller, Schall & Co. N Y

on present mileage, $12,090,000 bond3, $2,015,000 pref. and $10,075,000
com . stock, $2,494,337 bonds. $1,055,434 pref. stock and $2,001,200 com.
stock will remain available In the treasury.
$28,000 car trust 4 t$s of 1905 mature $14,000 quar.; other car trusts
June 30 1909, $121,491.
E A R N IN G S .— 5 m o s.,(1 9 0 9 __________Gross, $674,180; net, $245,562
July 1 to N ov. 30.
( 1 9 0 8 ............... .G ross, 621,853; net, 197,880
R E P O R T .— R eport for year ending June 30 1909 (old co.) In V. 89, p.
1540, showed: Total operating revenue, $1,525,833; net after taxes, $461,­
522; lnt. on bonds, f e e . . $489,296; rents and hire of eq u ip ., $24,560; bal.,
d ef., $52,334. In 1907-08 op . rev. $1,4 10,397; net, $224,007.
O F F IC E R S .— Pres., L . S. Berg, 49 Wall S t., N . Y .; Sec. and Treas.,
Geo. W . Crary, Mobile, Ala.
D irectors.— Brayton Ives (Chairman), L. S. Berg, Chas. K . Beckm an,
Geo. R . Sheldon, Frederic E. Fried and R. W . K . Anderson o f New York;
John M cL eod, Philadelphia; Richard B. Scandrett, Pittsburgh; Win. C.
Sproul, Chester, Pa.; S. W exler, New Orleans, and A lex. M cDonald, Cin­
cinnati.— (V . 90, p. 167.)
NEW ORLEANS & NORTH EASTERN RR.— New Orleans, La., to Mer­
idian, Miss., 196 miles. Stock, $6,000,000 (par $100), o f which $5,320,000
and $5,195,000 gen. 4 >6s and $1,500,000 Incomes were held In Jan. 1909 by
Ala. New Orleans Texas fc Pac. Jet. R y .
Reorganized In 1902 per plan In V . 74, p. 681. Dividend on stock 1903
and 190 4 ,3 % each: 1905, 3 H % ; 1 9 0 6 ,5 % ; 1 9 0 7 ,6 % ; 1908, 4 % ; 1909,
S ept., 5% . Of the gen. 4 H s, $1,172,000 are reserved to retire the remain­
ing prior Hen and first mtge. bonds and $766,000 for future needs.
Equipm nt notes of 1906, V. 82, p. 987.
E A R N IN G S .— 5 m os., (1909________ Gross, $1,309,613; net, $163,630
July 1 to N ov. 30. \1908________ Gross, 1,203,450; net, 367,270
Report for 1908-09, V . 89, p. 1594.
Y r . e n d . J u n e 30.
G ross.
N et.
O th . I n c .
I n t., & c.
B a la n c e .
1908-00____________ $3,035,088 $843,164
$86,651 $509,748 $330,066
1007-08_____ _______ 2,883,656
657,188
142,761 554,300
245,040
From surplus paid dlv. ot 5% ($300,000) in 1908-09, against 4 % ($240,­
000) in 1007-08.— (V . 87, p. 1295; V. 89, p. 770, 1223, 1594.)
.

NEW ORLEANS TERMINAL CO. — Owns extensive terminal property at
New Orleans ami a belt railroad around the city, leased to the St. Louis fc
San Francisco and Southern R y for 99 years from July 1 1903, rental cover­
ing all expenses o f operations, maintenance and charges. Southern R y .
and St. Louis & San Francisco each own half of the $2,000,000 outstanding
stock ($5,000,000 authorized), and Jointly guarantee the bonds. In Feb.
1909 $3,000,000 of an Issue of $3,500,000 2-year 5% notes, guaranteed by
two lessor companies and secured by $5,000,000 bonds, were sold to retire
$2,500,000 notes maturing April 10 1909 and for Improvem ents, V. 86, p
721; V. 88, p. 564. Pres., D. D. Curran. See V. 78, p. 343, 1447; V . 79.
p. 1466; V. 81, p. 155; V. 83, p. 272; V. 86, p. 721; V. 88, p. 564.)
NEW YORK BAY RR. — Owns from Kearney Junction. N. J., to a point
4,184 feet east of W avcrly Station, near Newark, and from a point 4,037
feet east of W averly Station to the bulkhead line at Greenville piers, on New
York Bay, 10.98 miles, with 3 branches, 2.59 miles; total, 13.57 miles.
S tock, $6,000,000, all owned by Pennsylvania R R . In 1908 made a m tge.
to secure $6,000,000 bonds, of which Penn. R11. Dec. 31 1008 owned $3,­
635,000. V. 86, p. 920, 982.— (V. 86, p. 920, 082.)
NEW YORK BROOKLYN & MANHATTAN BEACH RY.— Owns from
Fresh Pond Junction to Manhattan Beach (Coney Island), and branches to
Bay Ridge and Greenpoint, 15 miles.
LEASE. & c.— A consolidation Aug. 27 1885. Leased for 99 years from
O ct. 1 1885 to the Long Island R R . C o., which owns m ajority of stock.
Rental, Intcrcston bonds and 5% on pref. ktock. Common stock, $350,000.
L. I. R R . has attached to the bonds Its unconditional guaranty of principal
and Interest In addition to facts as to lease.— (V . 83, p. 1348.)
NEW YO RK CENT. & HUD RIVER RR.— ( S e e M i p s . p p . 06, 07.)
O p e r a t e d u n d e r c o n i n c t —L in es ow n ed .
M ile s
IS
New York to B u ffa lo __________ 441 Terminal R y . of Buffalo*-------56
B ranch es______________________ 365 St. Lawrence & A d iro n d a ck * ..
36
3 Cherry Tree & D ixonvlllo------ Proprietary lin e s _____________
T ra ck a g e _______________________ 237
L i n e s l e t s e d . (*See this co.)
W est S h o re * ________
479
Total In earnings.....................3,781
T roy fc Greenbush*..............—
6
C o n tr o lled — O p era ted S e p a r a te ly .
Spuyten Duyvll fc Pt. M .*____
5
New York & H arlem *_________ 137 Lake Shore f t Mich. S ou th ern *.1,511
New Jersey Junction*-------------5 Michigan Central*.........................1,746
88
R om e W atertown & Ogden*___ 624 Lake E. Alliance fc V h e e lin g ..
Mohawk & Malone*----------------- 182 N . Y . Chic. & St. Louis R R . * . . 523
Carthage fc A dirondack*______
46 Lake Erie fc W estern*..............\
New York fc Putnam *_________
59 Northern O hio*-----------------------1 886
Boston & A lb a n y * ____________ 393 " B ig Four” S ystem *------------------2.334
New York & O ttaw a*_________ 126 Chicago Indiana fc S o u th e rn * .. 341
248
Fall Brook R y ., & c.*_________ 231 Cincinnati N orthern*................
91
Beech Creek R R .* ....... ............... 165 Dunkirk All. Val. f t P i t t s .* .. .
Pitts. & Lake Erie system ■. . .
191
Beech Creek Extension R R .,
468
e t c .* ............................................ 128 Rutland R R --------------------------14
Wallklll V a lle y ________________
33 Little Falls & Dolgevllle---------Chicago Kalamazoo & Saginaw
55
Detroit & Charlevoix................
44
Indiana Harbor B elt---------------103
Total Jan. 1909, less 140 m. duplicated (338 miles 4 -track ed )............12,284
Also controls Lake Erie fc Pittsburgh R y ., com pleted from Lorain, O .,
southeast to Berea, 13 miles, and to be extended to Cleveland and Youngs­
town, making about 120 miles In all. V. 83, p. 1037.
Owns an Interest In com m on stock of H ocking Valley R y ., which see.
In Jan. 1909 was authorized to purchase the $989,000 Spuyten Duyvel f t
Port Morris stock at not over $230 per $100 share. V . 88, p. 375, 823.
In 1909 made a new lease ot Geneva Corning & Southern R R . V . 88,
p. 823. 1128.




96




RAILWAY STOCKS AND BONDS.

[VOL.

LXXXX.




98

RAILWAY STOCKS AND BONDS

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., s ee n o tes o n fir s t p a g e]

M ile s
R oad

New Orl & N E ( C o n c l ) — Gen M $8,000,000 g .. . F . c *
Incom e mortgage (non-cum) $1,500,000 g o ld --.N .r
Equipm ent notes gold due $39,000 sem i-annu ally.New Orleans Term — 1st M $15,000,000 g gu ar.S .c*& r
Notes guaranteed g o l d - - ................................................
New York B ay— First m ortgage $6,000,000 gold _-G P
N Y Bklyn & Manhattan Beach— Pref stock non -cum .
First cons M (now 1st M) gold guar by L I ____ Ce.c*
N Y Cent & Hud River— Stock ($250,000,000 auth) .T r
Refunding m ortgage $100,000,000 g old ___Ce.c*& r
Coll trust g ($100,000,000) Lake Shore s t k - . G .c ’ &r
do do ($21,550,000) Mich Cent stock _______ G
Mtge on Gen Corn & Sou $10,000,000 gold -F x c*& r
Mtge on Spuyten D & P M $20,000,000 gold ____ Ce
Debentures (V 69. p 1102; V. 71. p 502, 9 6 4 ). . .
Debentures $50,000,000 g o ld ....................... U s.c’ &r*
Notes $25,000,000 (to be paid Feb 1 1 9 1 0 )..c* & r
New York Central Lines—
Joint eq tr g $2,000,000 an(V 86, p 800, 920) -G .c* &r
N Y Chicago & St Louis— Common s t o c k ------------------2d pref stock (6% n on -cu m )----------------- --------------First preferred (5% non -cum ulatlve)..........................
First m ortgage gold sink fund not d raw n, .C e.c* <5cr
Debenture bonds $10,000,000 gold ----------G r .c ’ &r*
N Y & Greenwood Lake— Prior lien M gu p & I.N .g x c*
New York & Harlem— Comm on 1 4 % , 10% guaranteed
Preferred stock 1 4% , 10% guaranteed.......................
R efunding m tge (now first) $12,000,000 g --G .c * & r
N Y Lackawanna & W estern— Stock guar 5% (e n d )-First m ortgage guar by Del Lack & W este rn ..F .c*
Construction m ortgage guar by D L & W (end) - F.c*
Third M Term Imp ($5,000,000) gu arp & l (e n d )--F
New York Lake Erie & W estern— See Erie R R
N Y& Long Br— Gen M (now 1st) $2,500,000 g Ce.c*
IS v York New Haven & H artford— Stock (see text) .
Debentures ($5,000,000 are 4s) non -convertible.c& r
Deb (for Cent N E & W) g non-conv (V 78, p 768)
Debentures (for F H & W) (V 78, p 2335) ................
Debentures (for N Y . Ont & West) (V 80, p 2458).
Debentures convertible (see t e x t)--------------------- c*& r

196
196

14
15
15
809

D a te
B onds

Par
V a lu e

1902
1902
1906
1903
1909
1908

$1,000
1,000
1,000
1,000 &c
1,000
1,000 &c
100
1,000
100
1,000 &c
1,000 &C
1,000 &c
1,000 &c
1,000 & c
1 bond
1,000 &c
1,000 &c

1885
1897
1898
1898
1909
1909
1900
1904
1907

1907
_ __
___

____
___
1887
1906
1896

505
___
53
146
146
136
214
214
214
214

____
1897
____
1880
1883
1890

38

1891

’ 97-’ 01
1904
1904
1905
— - 1906

1,000
100
500 &c
100 &c

H IS T O R Y , & c.— Control o f the Lake Shore and Michigan Central roads
was acquired in 1898, as stated below . V . 71. p. 502; V . 78. p. 48.
In Jan. 1910 a 99-year traffic agreement was made with the Western
Maryland under which that co. will build an 83-mlle connecting line with
the Pittsburgh & Lake Erie. V . 90, p. 237.
In Jan. 1909 Vanderbilt Interests In C. & O. R y . stock, abou t $8,000,000,
were sold. V. 88, p. 375. Vanderbilt estate, V. 71, p. 1221.
Since 1906 the allied lines, w ith the exception o f the N . Y . Chicago
& St. Louis, are known as the "N ew York Central’ ’ lines.
V . 81, p. 1792.
S T O C K .— Dlvs. on stock reg. In London ate payable at 4 9 K d . to the $.
Stockholders were offered $44,658,000 new stock at par, payable on o r be­
fore Jan. 20 1910, raising the am ount outstanding to $223,290,000, the pro­
ceeds to be used to retire $21,966,615 o f the $25,000,000 5% notes maturing
Feb. 1 1910; remainder for additions and Im provem ents. V . 89, p. 1223,
1411, 1542, 1668. V . 83, p. 688, 818, 1037.
D IV ID ’ DS. | ’ 94. ’ 05. ’ 06-’ 98. ’ 9 9 . ’ 00 t o '06. ’ 07. ’08. 1909. 1910.
Since 1893 - - % \ 5 4 1 4 y ’ rly 4
5 y ’rly
6
5K
5 J a n .,I K
B O N D S .— R e f . m o r t g a g e Is for $100,000,000, o f which $73,346 000 was
Issued to retire $70,377,000 old bonds and $11,654,000 for general purposes,
remainder ($15,000,000) was reserved fornew con stru ction ,ofw h lcn $4,000,­
000 sold Feb. 1909. V . 77, p. 452; V . 86, p. 1043, 1101; V . 88, p. 506.
Collateral trust 3 K » o f 1898 are secured by deposit o f stock o f the Lake
Shore & Michigan Southern and Michigan Central R R s . at the rate o f $100
of L. S. & M. S. stock for each $200 of bonds and $100 of Mich. Cent, stock
for each $115 o f bonds outstanding. See V . 66. p. 288, 336, 760, 811.
In 1904 $50,000,000 4 % debentures were authorized, o f which $30,000,­
000 were sold In 1904 and $13,000,000 In 1908. On Jan. 13 1910.the com ­
pany was authorized to Issue $5,000,000 4 % debenture bonds of 1934 In
paym ent for $5,000,000 Geneva Corning & Southe-n 1st pref. stock. V.
90, p. 168. T hey are to be secured b y any new m ortgages, but existing
mortgages m ay be extended. V. 78, p. 1907, 1962, 2384; V . 79, p. 1335,
2148; V. 86, p. 1043, 1101, 1467; V . 87, p. 415, 614.
In 1909 m ade a new m tge. on the Geneva Corning & Southern to secure
an authorized Issue o f not exceeding $10,000,000 bonds bearing 4% in­
terest, to retire outstanding bonds and for extensions and Improvements,
o f which $3,744,000 authorized to be Issued In July 1909. V . 88, p. 1128;
V . 89, p. 287. Also on the Spuyten D uyvll & Port Morris for an authorized
am ount of $20,000,000, of which $2,500,000 3 K s will be Issued at once,
m ostly to refund Indebtedness to N . Y . Central. V . 89, p. 105, 287.
In Dec. 1909 application was made to Issue $5,000,000 4% debenture
bonds due 1934 (raising am ount outstanding to $48,000,000) to purchase
$5,000,000 4 % Geneva Corning & Southern 1st pref. stock. V . 90, p. 54,
As to equipm ent trust ot 1907, see “ New York Central Lines” below.
G U ARAN T1 ES.— The com pany guarantees the securities o f Its leased
lines to a considerable aggregate— see separate statement for each com pany
In the table of mileage preceding. It also guarantees W estern Transit Co.
3 K s for $1,000,000 due Feb. 1923.
G E N E R A L F IN A N C E S .— The refunding of old bonds was com pleted in
1905: annual saving In Interest charges about $1,475,000.
In Jan. 1907 the dividend rate was raised from 5 to 6% (but again reduced
to 5% In April 1908), and the dividend rates on the Lake Shore and the
Michigan Central from 8 to 12% and 4 to 6% respectively, Increasing the
Income o f the Central from Its holdings of the stocks o f the two com panies
$2,147,754 yearly. Jan. 1908 2 % extra was paid on Lake Shoreand Mich.
Central stocks. V. 83, p. 1411; V. 85. p. 1577.
The com pany Intends to spend between Sept. 1 1909 and D ec. 31 1910
$12,046,000 for new equipment and contem plates Improvements to cost
$29,165,100. V. 88, p. 624, 1254; V. 89, p. 104, 1223.
As to sale o f $44,658,000 stock In 1909-10, see “ S tock” above.
In 1002-03 control o f the Reading Co. was acquired by Balt. & Ohio
(Pennsylvania Interests) and Lake Shore. V . 76, p. 101; V . 78, p. 48.
In 1906 the Oregon Short Line (Union Pacific system) acquired $14,285,­
745 N. Y . Central stock, and in A ug. 1909 p < ibly additional am ount .
was acquired. V . 84, p. 52, 571; V. 89, p. 411.
The New York State Railways Co. (see “ Electric Railways Section” ) Is
the com pany’ s trolley ally, owning or controlling some 634 miles of electric
railway in N. Y. State (com pare V . 87, p. 544).
E A R N IN G S .— 11 m os., (1909____Gross, $85,159,408; net, $26,286,241
Jan. 1 to N ov. 30.
\1908____Gross, 76,655,979; net, 20,836,605
For 10 m os. ending Oct. 31 1909, net, $23,414,151, against $18,592,958
In 1908; taxes, $3,686,886; other incom e, $9,423,147; charges, $18,045,858;
dlvs. at 5% yearly for the 10 m os., $7,443,000; bal., sur., §3,661,555.
A N N U A L R E P O R T .— R ep ort for year ending D ec. 31 1908 was given
at length in V . 88, p. 742, 760. See also editorial, p . 718.
C o m b in e d R e s u lts O F A L L I E D L I N E S .
(Compare V . 88, p. 818. 794.)
Y r . e n d . D e c . 31—
1908.
1907.
1906.
1905.
Miles o p e r a te d .........
12,283
12,282
12,159
12,028
Gross ea rn in g s_$ 214,714,599
$241,456,045 $225,591,500 $206,728,132
Total net Income . . . 70,596,387
72,821,957
68,329,446
61,324,129
First charges.. 50,131,564
46,852,948
43,351,256 41,396,188
D iv id en d s ...... 18,291,860
23,426,623
18,009,178
15,419,279
S u rp lu s ........... .......... $2,172,963
$2,542,385
$6,969,012
$4,508,662
N o t e .— The "n et Income” as above Is stated after adding to the operating
expenses for the several years from $10,500,000 to $13,700,000 (In 1908
$4,189,936) for new equip, and construction, and after adding to net earns,
“ other Income” am ounting to $10,764,012 in 1904 and rising to $18,362,217
In 1907, being $16,113,856 in 1908.
OF

N E W

YORK

CEN TRAL

&

H U D SO N

R IV E R

RR.

1908.
1907.
1906.
1905.
Miles o p e ra te d ....................
3,781
3,782
3,784
3,774
Gross ea rn in g s................ $88,849,368 $98,369,060 $92,080,769 $86,095,602
Net e a rn in g s ..............
23,430,283 22,565,726 25,827,813 24,594.851
Other In co m e .................... 10,371,079 11,476,051
7,707,742
6,523,500
“ Net Incom e.................. $33,801,362 $34,041,777 $33,535,551 $31,118,351




W h en
P a y a b le

[Vol.
L a st D iv id e n d
a n d M a tu r ity

l x x x x

.

P la c e s W h ere In te r e s t a n d
D iv id e n d s a re P a y a b le

&
J Jan 1 1952
$5,762,000
4K g J
1,500,000 Up to4 K % gold (if July 1 1952
273,000
4 K g A & O Apr ’ 10-Apr *13
10,000,000
4 g
•J & J July 1 1953
3,000,000
5 g
A & 0 10 Apr 10 1911
3,840,000
4 g
&
J Jan 1 1948
J
650.000
5
A & o Oct 1909 2 M %
1,726,000
5g
A & o Oct 1 1935
223,290,000 5 In 1909
3— J Jan 15 ’ 10 1 K
89,000,000
& J July 1 1997
3K g J
90,578,400
3 K g F & A Feb 1 1998
19,336,445
3 K g F & A Feb 1 1998
3,744,000
M & N May 1 1959
4 g
2,500,000
&
D June 1 1959
3K g J
5,500,000
3M g J & J July 1 2000
48,000,000
M & N May 1 1934
4 g
25,000,000
5
F & A Feb 1 1910

Farmers’ L & T r Co, N Y
earned) on Dec 1
Franklin Trust Co, N Y
Standard Trust Co, N Y
Empire Trust Co. N Y
New York & Philadelphia
Checks mailed
U S Mtge & Tr Co, N Y
Grand Cent Station, N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do

1,000 &c 26,000,000
M & N N ov 1910-1922 Guaranty Trust Co, N Y
5 g
100 14,000,000 See text
March Mch 1 1910 3% Grand Cent Station, N Y
100 11,000,000 5 in 1910 March Mch 1 1910 5%
do
do
100
do
do
5,000,000 See text Seml-an. Mch 1 1910 5%
1,000 19,148,000
Union Trust Co. N Y
A & O Oct 1 1937
4 g
Grand Cent Station, N Y
1,000 10,000,000
M & N May 1 1931
4 g
100 &c
50 Church St, New York
1,500,000
M & N May 1 1946
6g
50
8,656,050 See text See text Jan 1 1910 5% Grand Cent Station. N Y
50
do
do
1,343,950 See text See text Jan 1 1910 5%
1,000 &c 12,000,000
do
do
3 K g M & N May 1 2000
100 10,000,000
5
0 — J Ja i 3 1910 1R Del Lack & W estern, N Y
1,000 12,000,000
&
J Jan 1 1921
6
do
do
J
1,000
5
F & A Aug 1 1923
do
do
5,000,000
1,000
4
M & N May 1 1923
do
do
5.000,000

N. Y. CENTRAL & HUDSON RIVER RR — (Concluded.)

REPORT

A m ount
O u ts ta n d in g

m
R a te
%

2,500,000 4 g & 5 g
See text 8 In 1909
10,000,000 3 K & 4
5,000,000
4 g
10,000,000
3H
4
15,000,000
30,000,000
3M

L iberty Nat Bank N Y
M & S Sept 1 1941
Q- - M 30 Dec 31 1909 2% Co’s office. New H aven
Lincoln Nat Bank, N Y
M & S Mch 1 1947
do
do
F & A Feb 1 1914
Second Nat Bank, N H
A & O A pr 11954
Lincoln Nat Bank. N Y
J
& J July 1 1955
& j j j a n 1 1956
Second Nat Bank, N H
J

1908.
1907.
1906.
1905.
Interest on d e b t................ $9,454,610
$9,259,569 $8,214,520 $8,223,557
Rentals leased lines____ 9,766,285
9,632,266
9,501,170
9,508,499
Taxes on stock ................
599,751
764,610
1,011,557
1,143,438
Taxes on real estate____ 3,483,135
2,511,070
2,924,594
2.726,021
M iscellaneous....... ........... 1,421,704
1,089,804
1,231,391
1,236,081
Reserved for debentures
.................................................................
150,000
Dividends
............(5 % )8 ,9 3 1 , 6 0 0 ( 6 ) 1 0 ,717,920(5 K )78 3 28 8 5(5 )6 ,612,500
_________
2 ,8 0 0 , 0 0 0
1,500,000
Im prov’t fund & equlp’ t _________
B ala n ce.........................
$144,277
$66,538
$19,433
$18,253
President, W illiam C. Brown; Chairman, Chauncey M. Depew; Vice­
Presidents; E. V . VV. Rossiter, Alfred H. Smith, John Carstensen, Chas.
F . Daly and Ira Place; Treas., E. L. Rossiter; S ec., Dwight W . Pardee.
Directors (Aorll 1909), VV. K . Vanderbilt, F. W . Vanderbilt, C. M. Depew,
.1. Plerpont Morgan, William Rockefeller, William H , Newman, Marvin
H ughltt, W m . C. Brown, Geo. F . Baker, George S. B ow doln, Jas. Stillman,
W m . K . Vanderbilt and Lewis Cass L edyard.— (V . 90, p. 54, 167, 237.)

NEW YORK CENTRAL LINES.—

The New York Central Lines equipment trust o f 1007 ($30,000,000 tetal
Issue) mature $2,000,000 yearly to N ov. 1922. T hey will cover engines,
passenger cars and freight cars to be used b y various linos o f the system ,
which join tly and severally agree to pay prln. & Int., the larger part being
for N. Y . C. and Lake Sh. V . 85 p. 1402; V . 86, p. 168, 798, 800, 920, 1344;
V . 88, p. 761; V . 89, p. 1142, 1223.

NEW YORK CHICAOO & ST. LOUIS RR.— (See

M a p o f N ew

Y ork C en ­

tra l & H u d s o n R i v e r .) —

Owns from Buffalo, N . Y ., to Illinois State Line, ex­
cept 8 m. leased bet. Dunkirk and Silver Creek, leaving 494 m .; leases the
proprietary line, Chic. & State Line R R ., 111. State line to Grand Crossing,
10 m .; also leases Dunkirk to Stiver Creek, 8 m .; total, 512 m .; trackage In
Buffalo, N . Y ., 1 H m ., and Gr. Cross’ g, Chic., 111. (Lake Sh. R R .) , 0 m.
S T O C K .— Lake Shore & Michigan Southern owns $6,240,000 com m on,
$6,275,000 2d preferred and $2,503,000 1st preferred stock. A fter 5%
dividends on the §14,000,000 com m on stock, all classes o f stock share alike.
D IV ’ S .—
'96.
’ 07.
'98.
’ 99.’ 00.’ 01.’02 to ’ 00.*07.’ 08’ 09.
1st p re f_____
5
0
2
0
5
5
5 yearly
5
5
5 See text.
2d pref ( M c h ) ...............................
.. 2
3 yearly
4 5 5 a ch, 5
C om m on------ --------------------------------- — -------- None----------------------------3
agin 1910, on 1st pref., M ch., 5 % , dlvs. hereafter to be paid semi-annually,
B O N D S.— Amount sink, fund for first m tge. bonds $100,000 (so long
as the bonds could be bought at or below 102) decreased the am ount o u t­
standing from $20,000,000 to $19,148,000. .See mtge. abstract, V . 45, p.
541. The $10,000,000 debenture 4s sold for equipm ent, & c . , will be secured
b y any new mtge. Equip, trust 5s, $48,000; 4 K s, $60,000. V. 82, p. 693;
V. 86, p. 1344, 1590; V. 88, p. 565, 1062.
E A R N IN G S.— 11 m os., (1909______ Gross, $9,117,873; net, $2,087,593
Jan. 1 to N ov. 30.
11908_______ Gross, 8,348,104; net, 2,393,225
For 6 mos. ending June 30 1909, net, $1,263,290, against $1,115,181 In
1908; other inc., $106,489; charges and taxes, $881,076; bal., sur., $488,703.
R E P O R T .— R eport for 1008 was In V . 86, p. 1057. Principally a freight
line, freight in 1908 contributing $7,939,037 out of $9,435,557.
Y e a r e n d . D e c . 31—
1908.
1907.
1906.
1905.
Gross earnings ..............$9,435,557 $10,465,671 $9,002,209 $0,108,730
Operating expenses____ 7,359,968
7,173,227
7,227,581
6.753.607
Additions & betterments
_________
893,584
632,889
537,341
$2,041,739
$2,089,516
$776,720
166,105
250,000
(4)440,000
59,019

$1,817,782
$1,848,498
$777,000
170,057
250,000
(3)330,000
31,078

$187,909
$501,030
$397,702
Balance, surplus_____
Pres., W m . 11. Cannlff.— (V. 88, p. 1062; V. 90, p. 237.)

$290,363

$2,398,860
Net earnings................$2,075,589
Net (lncl. oth. Income) $2,130,924 $2,418,073
Interest on bonds______
$974,115
$868,467
Equip, trust charges___
94,874
117,034
Dlv. on first pref., 5 % . .
250,000.
250,000
Dividend on 2d p r e f ...( 5 % ) 5 5 0 ,000 (5)550,000
Sink, fund and m ls ce ll..
74,026
131,543

NEW YORK & GREENWOOD LAKE RY. —

(S ee M a p

o f E r i e R R .) —

Owns from Jersey City, N. J ., to Greenwood Lake, 39 m ., and branches to
R Ingw ood, & c., 8 m .; W atchung R y ., Forest Hill to Orange, N. J ., 4 miles;
total owned, 51 miles. Stock, $100,000; par, $50.
L E A S E .— On May 1 1890 was leased to the Erie R R . for 099 years from
May 1 1896. Prior lien bonds are guaranteed, principal and interest, by
Erie. See V . 63, p. 513; form of guaranty, V . 65, p. 463.
NEW YORK & HARLEM RR.— (See N . Y . C e n t A I l u d . R i v . R R . ) —
Owns N . Y . City to Chatham, N. Y ., 136 m. A lso owns 4th A v c. St. R R .
L E A S E .— The property (except the street railroad) was leased April 1
1873 for 401 years to the N . Y . Cent. & Hud. R lv . R R . for Interest on bonds
and dividends at rate of 8 % yearly, since Increased to 10% through refund­
ing of bonds, payable Jan. and July. V. 70, p. 740, 1049; V . 71, p. 29, 1220;
V. 84, p. 159. The street railway was leased in July 1896 to Met. Street
R y. Co. for 999yrs.; rental Is $400,000 yearly, equal to 4 % per an. on stock,
paid A pr. and Oct. to Oct. 1908. In A pr. and Oct. 1909 no disbursements
were m ade, special franchise taxes assessed against the street railway com ­
pany amounting to over $800,000 being In litigation, for which no provision
has been made In case they are held valid. V . 62, p. 1088; V . 88, p. 749.
— (V. 84, p. 159; V. 88, p. 749.)
NEW YORK LACKAWANNA & WESTERN RY.— Binghamton to Buf­
falo and Internat. Bridge and branches, 214 m ., o f which the main line, 213
m .. Is double track; D. L. & W. has a lease for duration o f charter from Oct
1882, giving a guaranty o f the bonds and 5% yearly on the stock. See form
of guaranty o f terminal bonds In V . 67, p. 1357; see also V. 6 8 ,'p. 283.
NEW YORK& LONG BRANCH RR.— Perth A m b oy to Bay H ead, N. J.,
38 miles. Operated under an agreement mado In 1888 for a period of 90
years with Penn. R R . and Cent. R R . of N. J ., which Jointly and severally
guarantee Interest and 7% on the $2,000,000 stock, all owned b y Central
R R . of N. J. Of the bonds $192,000 are 5s.— (V. 72, p. 438.)

1010.

J an., ioio.]

RAILWAY STOCKS AND BONDS.

R A IL R O A D C O M P A N IE S
[ F o r a b b r e v i a t i o n s , 1fee., s e e n o t e s o n f i r s t p a g e ]

M ile s
R oad

N Y New Hav ( c H — ( C o n ) — Debentures not con vertDebentures 145,000,000 francs ($29,000,000)____ N Y Prov A Boston gen M (now 1st) g assum___ cA r
Shore Line 1st M New R aven to New L ondon assum
H ousatonlc old consolidated m ortgage (assum ed )-New consol M ($3,000,000) gold (assumed) - - F.c*
N Eng cons (now 1st) M $7,500,000 5s g g u .-M a .c *
N Y & N E Boston Term 1st M $1,500,000. A B .cA r
New Haven & Derby consolidated m ortgage____ c*
Providence A Springfield 1st M gold assum ed____c*
Danbury A Norwalk cons M ($100,000 are 6 s)___c*
Gen m tge Danbury, Conn, to W ilson Pt A c ___c*
First ref m tge (V 82, p 210) gold a ssu m ed -.c* Ar
Harlem R lv A Port 2d (now 1st) see t e x t___F.cAr
Harlem R lv A Port 1st M gold $ 1 5 ,0 0 0 , 0 0 0 . U s.c*A r
W oonsocket A Pascoag first mtge gold assum ed-----Naugatuck first m ortgage gold assum ed............c*& r
Boston A N Y A ir Line new M $5,000,000(assumcd)
P rovidence Term 1st M $7,500,000 g assuined.c* Ar
P rovidence Seo Co deben $19,910,000 g gu p & l_ .
New Eng Inv A S p f stk 4 % cum $10,000,000 redlOS
Conn°Ry A Ltg 1st A ref M $15,000,000 g s f-.T a .c *

62
49
90
90
359
13
28
36
36
36
12
12
9
61

D a te
B onds

1906
1907
1908
1892
1880
1880
1887
1895
1889
1888
1802
1880
1883
1005
1881
1004
1890
1904
1902
1905
1906

_
_
_ 1907
_ __
_ 1901

A m ount
O u ts ta n d in g

Par
V a lu e

500 frsA c
100 Ac
1,000
1,000 Ac
500 Ac
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 Ac
1,000
1,000 Ac
1,000
1,000 Ac
1,000
100
100
1,000

Var
Var
Var
B o n d s o f L e a d in g P r o p r ie ta r y ,

& c .. L in e s

28
N il A N orth. Northern Extension b o n d s ---------- c*
Refunding mortgage $10,000,000 guar prln A|lnt.
Holyoke A W M $260,000 auth(V 87 p 544) g u .c*
10
Old C olony— See that com pany.
Providence A W orcester first mortgage c u r r e n c y ...
51
N ew York Ontario & " c s t e r n — Common s to c k ............
Refunding (first) mtge $20,000,000 gold — Ale.c*Ar T ext
—
Gen mortgage $12,000,000 gold red 110 (see tex tl-N

_

1881
1006
1891
1897
1802
1905

1.000
1,000
100
1,000 Ac
1.000

S T O C K .— Authorized Issue unlim ited. Outstanding Oct. 1909, $100,­
000,000; held In treasury of New England Navigation C o., $21,878,100.
The stockholders on O ct. 27 1909 authorized the Issue of $50,000,000
new stock In order to provide for $ 2 0 ,0 0 0 , 0 0 0 maturing debt. Including
$9,200,000 bonds and notes maturing between Jan. 9 and O ct. 1 1910, and
additions and Improvements. Stockholders and convertible debenture
holders were oltcrcd the right to subscribe for the new stock pro rata at
125, payable In four equal Installments on Dec. 20 1909, June 30 and Dec.
20 1910 and June 20 1911. V . 89, p. 1142, 1223.
D IV ID E N D S .— 1 1873-1893. 1894.
1895 to D c. ’ 09 (Inclusive).
P e r c e n t .................... J 10 yearly.
9
8 (2% quarterly).
B O N D S.— Harlem R iver A Portchester D lv. 4s of 1904 ($15,000,000
Issued) are subject to 4s due 1911, but cash has been deposited to cover
principal and Interest of latter to m aturity. V . 85, p. 1143.
In April 1908 sold or contracted to sell $2,000,000 short-term notes and
$9,000,000 treasury bonds (Including, It Is understood, $4,000,000 Harlem
R iver & PortC hester, $3,000,000 New Haven A Northampton and $2,000,­
000 of Boston A New York Air Line) In order to pay oil between $11,000,000
and $12,000,000 securities maturing to Jan. 1 1910, Including $8,320,000
2-year notes due In fall o f 1908. V. 80, p. 1101, 1225; V . 87, p. 870.
Under lease ‘ ‘assumed’’ debt of Old Colony.
O u t s t a n d i n g D c t / c n t v r r s I s s u e d & A s s u m e d b y t h e C o m p a n y a s o f J a n 1910
O u ts ta n d in g . M a tu r i t y .)
N o t e s , A c., D a t e d 1907 to 1 9 0 9
C o n v e r tib le D e b e n tu r es —
4year 5 % $ 1,350,000 Jan.O’ l l
3 h i % 1 9 0 6 ..$3 0 ,0 0 0,0 00 Jan. 1*56 5year 5 %
300,000 Jan.1’ 12
N o n -c o n v e r tib le —
5 year 5 % ------- 6,400,000 Jan. 9 ’ 12
4% 1904_____ 5.000,000 Feb. 1’ 14 European 4% 27.985.000 April 1’ 22
4 % 1897......... o.uOO.OOO Mch. 1’ 47
O u ts ta n d in g . M a tu r i t y .
3 .4 % 1 9 0 1 ... 5,000,000 Mch. 1’ 47 3-year 4 4 % . $2,000,000 May 5’ 11
3 4 % 1 9 0 4 ...1 0 ,0 0 0 ,0 0 0 April 1’54 1-year 4 % . . .
100,000 Feb.
2’ 10
4% 1905.......... 15,000,000 July 1’ 65 1-ycar 4 % — 5,150,000 Mch. 18’ 10
4 % 11 9 0 6 .......... 15,000,000 May 1’ 56
- -

W h en
P a y a b le

$15,000,000
4
M A
27.985,000
4
A A
J A J
38,5*5,400
6 £
1,000,000
4 g
A A
200,000
M A
4 H
100,000
4
A A
2,839,000
M A
5 g
17,500.000 4 g A 5 g J
A
1,500,000
4
A A
575,000
5
il A
750,000
A
J
5 g
500,000
5 A6 J
A
150,000
5
A A
350,000
J A
4 g
221,000
4
A
J
15,000,000
.\1 A
4 g
100,000
5
A A
2,500,000
M A
4 g
234,000
3H
A A
3,777,000
F A
4 g
4,000,000
M A
4 g
Sec text
19,899,000
M A
4 g
4.000,000
4
A
J
3,387,950
J A
4
12,491,378
A
4hi g J
290,000
M A
9,170,000 4. 4 M . 5

700,000
2,400,000
200,000

5
4
4

1,500,000
4
58,113,982 See text
20,000,000
4 g
3,948.000
4 g

A
J
A

A
&

A

L a st D iv id e n d
a n d M a tu r ity

N May 1 1956
<) A p r 11922
15 Jan 15 1948
O A p r 1 1942
S Mch 1 1910
C) A p r 1 1910
N N ov 1 1937
J July 1 1945
O A p r 1 1939
N May 1 1918
J July 1 1922
J July 1 1920
O A pr 1 1925
D June 1 1955
D June 1 1911
N May 1 1954
O Oct 1 1910
N May 1 1954
O Oct 1 1930
A A ug 1 1955
S Mch 1 1956
N
J
J
J
s

4 H .5 A 6
1,000

NEW YORK NEW HAVEN & HARTFORD RR.— Covers Southern New
England and the only direct routes between New York and Boston.
L in e s O w n ed in F e e —
M ile s .
L ea sed (p a rt O w n ed )—
M ite s.
Old Colony R R . (which s e e )___ 619
Junction near N. Y . C ity to
L in e s L ea sed —
Springfield, Mass----------------------122
Providence and W orcester_____
48
B o sto n ,‘Mass., to Hopewell Jet.,
72
N. Y ..................................................214 Norw. A W orcester (which see).
Other lines_____________________ 319
Lines to Providence, Pittsfield,
Litchfield, A c ..............................428 Track to N .Y .C lty , A c.(V .8 8 ,p .5 3 ) 4 4
L e a s e d a n d C o n tr o lled —
Lines to Turner’s Falls, <5cc-----------180
T otal operated July 1900 (107 m. has four and 777 m. two tracks)___2,044
In April 1908 New England R R . was m erged. V . 8 6 , d . 1043. 1225.
In O ct. 1909 the Boston Railroad H olding Co. (which see), Incorporated
In Massachusetts In June 1909, took over the $10,994,800 Boston & Maine
com m on stock form erly owned by the New Haven road, and In O ct. 1909
was arranging to purchase $1,575,500 additional com m on and $582,600
preferred stock, making a total of $12,570,300 com . out o f $28,271,790 and
a582,600 out of $3,149,800 pref. outstanding. Additional B . A M. stock
sufficient probably to make a m ajority In all Is owned by the same Interests.
The New H aven com pany has acquired all the stock and bonds of the H old ­
ing C o., thus having indirect control of the II. A M., and m ay guarantee
the securities of the holding com pany. V . 8 8 , p. 1621; V . 89, p. 163; 839,
917, 991.
In O ct. 1904 $29,160,000 of the $58,118,982 N. Y . Ont. A W est. com .
stock was acquired at $45 per $100 share and $2,200 of the $4,000 pref.,
giving access to anthracite mines. V . 79, p. 2086, 2642; V . 80, p. 1303.
Early In 1904 acquired a m ajority of stock and Income bonds of Cent. New
England R y ., which see; V . 84, p. 1488; V . 85, p. 160, 858; V . 89, p. 594.
In O ct. 1906 acquired control o f H artford & New Y ork Trans. C o.,
which absorbed the U. S. Transportation Co. In March 1907 purchased
one-half o f the stock of the Merchants' A Miners’ Transportation C o.,
which acquired the Boston & Philadelphia S. S. Co. V . 83, p. 800; V. 84,
p. 221, 271, 391, 571, 620, 749; V. 85, p. 858; V. 8 6 , p. 721; V. 8 8 , p. 1002.
E l e c t r i c R a i l w a y s — May 31 1907 the Consolidated R y ., a consolidation of
various controlled electric railways, chiefly In Connecticut, aggregating
about 770 miles o f track, purchased the property o f the New England
Navigation C o., owning the Fall River and other steamship lines: Its capital
stock, as then Increased from $10,000,000 to $30,000,000, was exchanged
by the N. Y . N. H. A II. R R ., as owner thereof, for Its own stock. V . 84,
p. 1052, 1114, 1242, 1308, 1424; V . 85, p. 859; V. 89, p. 594.
In Dec. 1906 Consol. R y. leased Conn. R y. A Ltg. C o., operating 193
miles. (V. 83, p. 1525; V. 84, p. 508.) Also In Dec. 1906 acquired control
o f the Rhode Isl. Sec. C o., controlling the street railways (311 m iles),
gas and elcctrlc-llght properties o f Providence and vicinity, $19,898,000
Providence Sec. 4% debentures being guaranteed, principal and Interest.
V . 83, p. 1525; V. 84, p. 1114; V . 8 5 ,p .8 5 8 . See "E lectric Railway Section.”
In July 1909 large blocks of United Traction A Electric Co. of Providence
stock (total outstanding $8 , 0 0 0 , 0 0 0 ) was acquired on the basis of 8 shares
for 5 shares of New Haven stock. V . 89, p. 105. In May 1908 the Su­
preme Judicial Court of Massachusetts declared Illegal the control o f 6
trolley roads, which have been disposed of (V. 8 6 , p. 1285, 1590; V. 8 8 , p.
507, 625, 945, 1621; V . 89, p. 163); "th e only Interest not eliminated Is the
endorsem ent upon the shares of the Springfield R y . Companies and the New
England Investm ent A Security C o.” Sec "E lectric R ailw ay” Section and
V . 89, p. 839.
On June 30 1907 there were outstanding bonds of electric roads leased
or controlled, other than of Providence Securities and Conn. R y . 8 Ltg. Co.,
shown In table above, aggregating $24,729,700, and bonds o f steamship
A c., companies controlled, aggregating $2,883,000. No details given In
later reports.
Owns practically all the stock of the N. Y . W estchester & B oston, under
construction between 177th S t., N. Y . C ., and Mt. Vernon, & c., original
controlling Interest being acquired for $11,702,483. V. 85, p. 1143; V . 8 6 ,
n. 108, 169; V. 87, p. 415, 480, 870; V. 87, p. 1420, 1421; V. 8 8 , p. 507, 625;
V . 89, p. 1597; V. 90, p. 237.




R a te
%

'■'!>

Lincoln Nat Bank, N Y
Paris, London, Ac
New H aven Savings Bk
Nat N H Bk, New H aven
New H aven, Conn
Farmers’ L A T r Co, N Y
Safe Dep A T r Co, Boston
Coup, office; reg. mailed
New H aven, Conn
Lincoln Nat Bank, N Y
New H aven, Conn
do
do
do
do
Chemical Nat Bank, N Y
New York
R I Hosp Trust Co, P rov
New H aven, Conn
Second Nat Bank, N H
do
do

New York A New H aven
May 1 1957
J a i 1910 2%
Jan ’ 10. 2%
Jan 1 1 9 5 1 '
Trust Co o f A m er, N Y
Sept 1 1912
1912 to 1951
1914 to 1932
1912 to 1934

0 A p r 11911
D June 1 1956
O A pr 1 1911

A A O
See text
M A S
A D
J

P la c e s W h e r e In te r e s t a n d
D iv id e n d s a re P a y a b le

Oct
A ug
June
June

1
9
1
1

Treas, New H aven, Conn
do
do
do
do

1947
R I Hosp A T r Co, P rov
1909 2% Checks mailed
1992
O ffice, 56 Beaver S t. N Y
1955
do
do

D eb en tu res A s s u m e d —
C ons.R y.(seeV .84 p.1114)—
N augatuck R R .
4 % 1 9 0 4 ...$ 1 ,3 5 4 ,0 0 0 July 1’ 54
3 4 % 1902. $234,000 O ct. 1’ 30
4%
1 9 0 5 ... 2,350,000 Jan. 1’ 55
H artf’ d St. R y.
4%
1 9 0 5 ... 1,341,000 April 1’55
4 4 % “ N” .
145,000 Jan. 1*30
4%
1 9 0 6 ... 2,108,000 Jan. 1’ 56
4% ’ ’ M" . . .
165,000 Jan. 1’ 30
3-3 4 - 4 % ’ 05 1,000,000 Feb. 1*30
Stockholders o f record Dec. 31 1905 subscribed at par, payable In Install­
ments to April 1 1908, for $29,997,300 o f 3 4 % cou pon debenture certfs.
convertible at a par of $150 for $100 stock between Jan. 1 1911 and Jan. 1
1016, the proceeds to be used for Im provem ents authorized and contem ­
plated and the purchase o f outstanding securities o f controlled roads. V . 81,
p. 976, 1039, 1493: V. 84. p. 103. 694.
In Feb. 1007 145,000,000 francs ($29,000,000) 4 % 15-year debentures
i»lth a fixed rate In marks and £ were sold. V . 84, p. 391, 450, 508, 804,
931. Providence Terminal Co. bonds ($7,500,000 authorized), see V . 82,
p 920. 629. 693, 1213, 1323; V . 83, p. 96, 819.
Stockholders In Dec. 1907 subscribed pro rata for $38,585,400 6 %
40-year debens. at par, convertible Into stock after Jan. 15 1923 at par.
The debentures are to be secured by any m tge. hereafter created covering
the main lines between W oodlaw n, N. Y . City, and Springfield, Mass., or
New H aven. Conn , and Providence, R . I. V. 85. p. 1270, 1339.1402. 1647.
E A R N IN G S .— 5 m os., 11909........... Gross, $26,131,441; net, $10,419,086
July 1 to N ov. 30.
\1908----------Gross, 23,295,705; net, 7,781,878
For 3 mos. ending Sept. 30 1909, net, $0,338,283, agst. $4,710,417 In
1908; other Income, $1,999,604; charges, $5,022,350; bal., sur., $3,315,536.
A N N U A L R E P O R T .— R eport for 1908-09 in V . 89, p. 838. Owing to
changes In accou ntin g, comparisons with two earlier years are Inaccurate.
Y e a r e n d . J u n e 30—
1909.
1908.
1907.
1906.
2,044
2,047
2,060
2,057
Miles op erated _________
Passenger earnings........... $26,323,469 $26,279,301 $26,758,929 $25,252,124
Freight ea rnings.......... .. 26,595,970
25,281,435 28,386,704 27,247,118
M isce lla n e o u s..................
1,428,192
1,489,411
456,303
485,080

Gross earnings..............$53,347,631 $53,050,147 $55,601,936 $52,984,322
Net e a r n in g s ................... $18,267,324 $14,836,590 $17,751,855 $17,761,736
Net earns, street rys_______________ 3,644,315
................
2,745,758
3,615,900
N et earns. SS. lines------------------------- 1,214,307
498,674
635,127
_________
Net outside operations. .
1,212,089
_________
_________
Other Incom e__________
4,593,489
3,862,151
2,077,874
2,175,757
T otal net Incom e____$27,719,435 $23,155,262 $24,080,756 $19,937,493
Interest on bonds, A c . .$10,424,932 $7,556,045 $5,732,743 $3,005,793
Rentals of leased lin e s .. 3,956,294
4,581,182
5,604,846
3,935,594
Taxes _________________
3,446,126
3,338,306
3,592,236
2,810,729
1,784,299
.........................................
Otli. rents. & guar. d lv . 1,978,281
460,430
_________
Hire o f equipm ent_____
628,861
_________
Dividends ( 8 % ) _______
7,883,842
7,783,262
6,904,988
6,467,092
Im prov’ts & betterm 'ts.
_________
_________
_________
3,000,000
M iscellaneou s__________
23,143
_________
257,889
326,998
Balance, surplus____def.$453,613def.$2,516,693 $1,988,054

$391,287

O F F IC E R S .— Pres., Chas. S. Mellen, New Haven; Sec., John G. Parker;
Treas., Augustus S. May. New H aven, Conn.
D irectors.— William Skinner, H olyoke, Mass.; Jas. S. Elton, W aterbury,
Conn.; Chas. S. Mellen, New H aven, Conn.; J. Plerpont Morgan, Wlillam
Rockefeller, II. M cK . T w om bly, George McC. Miller, Lewis Cass Ledyard,
Charles M. Pratt, New York; D. Newton Barney. Farmington, Conn.;
Am ory A. Lawrence, Nathaniel Thayer and Alexander Cochrane, B oston;
R . W . T a ft, Providence; C. F. Brooker, Ansonla, Conn.; I. De V. Warner,
Bridgeport; James McCrea, Philadelphia, Pa.: James S. Hemingway, Geo.
J. Brush, Fredk. F. Brewster, A . H eaton R obertson, New Haven; Edwin
Milner, Moosup, Conn.; John H . W hlttem ore, N augatuck, Conn.; Henry K .
M cIIarg, Stam ford, Conn.; John L. BUlard, Meriden, Conn.— (V. 89, p.
1223, 1281, 1483, 1542, 1597.)

NEW YORK ONTARIO & WESTERN RY. —Operates from Weehawkea

opposite N . Y . City, to Oswego, on
R oa d O w n ed —
M ile s .
Oswego to Cornwall,N. Y ............ 272
Branch to New Berlin......... ................22
do
to D e lh i............................ 17
do to E llen vllle________________
8

Lake Ontario:

R o a d C o n tr o lled , & c .—
M ile s
Pecksport, Conn. (leased)_______
Ontario Carb. & S. (leased)
Cadosla, N. Y ., to Scranton, Pa.
Rom e A Clinton (leased)......... .......*13
Utica Clinton A Bing, (ieased)___ *31
Total ow ned___________ _______319 W harton Valley (ow n ed )_________ 7
T r a c k a g e (tlU2079) W .Shore R R .:
Ellenvllle A Kingston (leased). . 27
C’nwall to W'ken (V .61,p.425) . 53 Port Jervis Mont. A Sum mltvlllc
• Sec this com pany.
(owned and leased)_____ _______ 38

Total operated July 1 1909--------------- -------------------------------------------------- 5 4 0
Extension of Capouse branch from Scranton to a connection with the
Lehigh Valley R R ., 4.6 miles, was authorized in 1909.
C O N T R O L .— In O ct. 1904 N. Y . N. II. A H. R R . acquired $29,160,000
com . stock at $45 per share and $2,200 o f the $4,000 pref. V . 79, p. 2086.
2643; V. 80, p. 1363, 2458; V. 81, p. 1044.
S TO C K .— Stock Is $58,117,982 (par, $100), o f which $4,000 Is old pref.
D IV ID E N D S .— Com ., Jan. ’ 05, 3 % ; July, 1 hi % ; ’06 t > ’09, 2 % each.
BONDS. & c . — R e f u n d i n g m t g e . t o r $20,000,000 covers 319 miles o f road
owned, all the securities o f the Ont. Carb. A Scran. R y ., 5 4 miles, and all
after-acquired property. V . 72, p. 87; V . 78. p. 2012; V. 80, p. 651.
The stockholders voted on N ov. 7 1904 to authorize a new m tge. for $12,­
0 0 0 , 0 0 0 to provide funds for capital requirements, under which $3,948,000
have been Issued and the remainder will be reserved for future needs. A
3 % dividend (calling for about $1,740,000) was paid on the com . stock
In Jan. 1905, vesting In the shareholders directly the right to elect all the
directors. V . 79, p. 977 to 980, 1332, 1462; V . 80, p. 872.

100

[VOL.

RAILWAY STOCKS AND BONDS.

R A IL R O A D C O M P A N IE S
[For abbreviations, & c., see notes on first page]

New York Ontario & Western— (Concluded) —
Gold notes secured by first mtge Scranton Coal C o ..
do gold sec by 1st M on E H C & I due s-a------c*
New York & Ottawa— First mortgage *2,500,000 g.Q
New York Philadelphia & Norfolk— Stock *2,500,000First mtge *3,000,000 g (V 68, p 773, 978)---F P .c*
Income mtge g non-cum regls (V 68, p 978)------FP
New York & Putnam— N Y & North 1st M g o ld -— c
N Y & Put cons *6,200,000 g guar p A l(end) - Un.c*
N Y & Rockaway Beach— 1st M *1,000,000 ggu.C e.c*
Second mtge Income bonds non-cumulatlve------Ce.r
N Y Short Line— 1st M *1,500,000g g u p & l--PeP,xc*
N Y Susq& Western—Midland R R 1st M gold-.Ce.c*
Paterson Exten R R 1st M real estate s I gold------c*
New York Susquehanna & Western first m ortgage-.
First mortgage refunding gold-------------------Ce.c*
!
Second M (*1,000,000 gold) 3d M on 72 m -.C e.c*
General mortgage for *3,000,000 gold-------Ce.c*
Terminal first mtge for $2,000,000 gold------Us.c* &r
A llie d c o m p a n ie s —

M ile s
R oad

128

1890
1900
1905

*1,000
1,000
1,000 &c
50
1,000
1.000
1,000
1,000
1,000
1,000
1,000
500 A c
1,000

1899
1899
1887
1894
1887
1887
1907
9H
72 1880
1 1881

...

65
Wilkes-B A E’ n 1st M g gu p & 1 (V 60, p 481)-G.c*
3
Passaic & New York first mtge (999 years rental). .
2
Macopln R R first mtge (branch to Macopln Lake) . .
N Y Susq & W Coal Co 1st M red at 110 sink fd -.o *
N Y & Wilkes-Barre Coal Co first mortgage...........N
New York Texas & Mexico—See Galveston Harrisburg <& San
Newport & Cincinnati Bridge— See Louisville & Nash vllle.
Niagara Junction Ry— First M $650,000 gold--M e,c* T ext
6
Norfolk & Portsmouth Belt L ine-F irst mortgage-FP
Norfolk & Carolina— See Atlantic Coast Line RR.
223
Norfolk & Southern 1st M *1,070,000 g - - ~ - - Mp c^
223
First general mortgage gold redeemable at I l f
Suffolk & Carolina first mortgage.....................
75
Suffolk A Carolina first cons mtge gold red 110— c ’

Receivers’ certificates. *1,000,000, red par
do
do
redeemable 101------

Par
V a lu e

112
112
57
57
12
12

127
127
127

A m ount
O u ts ta n d in g

D a te
B onds

1887
1887
1890
1893

1902
1898

W h en
P a y a b le

%

L a st D iv id e n d
a n d M a tu r ity

Dividends are Payable

New York Trust Co, N Y
G arantyTrust Co,IN Y
Grand Cent Station. N Y
Cheoks mailed
26 South 15th St, Phlla
Checks mailed (see text)
Grand Cent Station, N Y
do
do
U S Mtge & Tr Co. N Y

F 6s
*450.000
5 g
&
2,150,000
5 B J
&
1,456,000
J
4 S
A
2,500,000 12 i n ’ 09 J
&
J
2,600,000
4 g
4
M &
1,000,000
A &
1,200,000
5 g
&
4,025,000
A
4 g
M A
984,000
5 g
1,000,000 Up to 5
F &
1,500,000
4 g
A
A
3,500,000
6 g
<fc
250,000
6 g
J
6s
5,000
J
6 g
&
J
5 g
3,745,000
A
447,000
4H g F
F A
2,552.000
5 g
M A
2,000,000
* g

A Feb ’ 10-Feb ’ l l
D Ju n e’ 1 0-D eo’ 15
J July 1 1955
D N ov30 1909 6%
J Jan
1 1939
N Jan 1 1939
O Oct 1 1927
O Oct 1 1093
s Sept 1 1927
Sept 1 1927
A Feb 1 1957
() A pr 1 1910
D June 1 1910
J July 1 1011
J Jan 1 1937
A Feb 1 1037
A Aug 11940
N May 1 1943

500

3,000.000
70,000
44,000
291,000
450,000

5g
6
5
6
6

A
A
A
A
A

D
1)
1)
S
N

1,000
1,000

176,000
250,000

5 g
5

A
A

A A ug 1 1922
A Feb 1 1938

Mercantile Trust Co, N Y
Fidelity Trust Co, Phlla

A
A
A
A
A
A
A

N May
J July
l ) A pr
J July
J Jan
N N ov
D See
D ec

Metropol. Tr Co, N Y
Guaranty Trust Co, N Y
J S Glttlngs A Co, Balto
International Tr Co, Balt
Knickerbocker Tr Co,NY
Manhattan Trust Co, NY

1,000
1,000
1,000
1,000 6cc

1892
1885
1896
1887
1893
A nton lo

R a te

LXXXX.

1,000
500
1,000

1,000
1,655,000
1891
1904
1,000
0825,000
1886
1,000
90,000
1902
1,000
650,000
1904
1,000
47,000
1907
2,203,948
1,000
1,000
1,000,000
1908
442,865
1909
eral 6 % not es o f 19 07.

5 g
5 g
6
6 g

5 g
6g
6

SH

J
J

J
M
M
F

F
M
J
A
J

J
M
J

June
Dec
Deo
Mch
N ov

1 1042
1 1910
1 1016
l 1012
1 1933

1 1941
1 1954
11911
1 1962
1934
1 1910
text
1 1910

Reading Terminal, Phil
do

do

do
do
do
do

do
do
do
do

do
do
do
do
, p 1043; V

do
do
do
do
84, i

R y ., 10 miles. S tock, *50,400, In *100 shares. Bonds, see table. Calen­
dar year 1908, gross, *135,654; net, *43,376; other Income, * 17,325; Inter
est on bonds, *1 2,500;i taxes, & c.,i*3,093: tbal., sur., *45,108.
C tTJTRFOLK & SOUTHERN R Y — Owns’ N orfolk.’ V a ., to E denton, N . C..
76 m .; thence road to Belliaven, 30 m .; N orfolk to Virginia Beach, 19 m .;
Clapham Jet. to Munden’s P t., 22 m .; Providence to Clapham J e t., 8 m .;
M ackey’s Ferry to B ridgeton, N . C ., 77 m .; M ackey’s Ferry to Columbia, 22
m .; form er Chesapeake Transit (electric railway) C o., Norfolk to Lynn
H aven Inlet and Virginia Beach, via Cape H enry, 24 m . (acquired D ec. 04);
Suffolk, V a ., to E denton, N. C., 50 m .; Beckford to Elizabeth City, N . C.
25 m .; Raleigh to Chocow lnlty, 102 m .: leases A tlantic & North C aro., Beau­
fort to G oldsboro, N . G., 98 m .; other, 17 m .; trackage, 3 m .; total June 30
1908, 582 miles. 45 miles equipped electrically. V . 78, p . 1549, 2599;
V . 79, p. 1462, 1705.
The com pany has been building about 187 miles o f road, which when
com pleted will make a connected system of 611 miles between Beaufort and
Goldsboro, New Bern and W ashington, Raleigh and W ashington, W ashing­
ton and Mackey’s Ferry, Belhaven and M ackey’s Ferry, E denton,Suffolk,
Elizabeth City and N orfolk. C o m p a r e V. 86, p. 338; V . 85, p. 1519. En­
tire capital stock and bonds of John L . R op er Lum ber C o., owning over
600,000 acres o f tim ber lands and 200,000 acres of tim ber rights, are owned.
V . 87, p. 1415. In N ov. 1909 the John L . R op er Co. purchased the Kinston
& Carolina R R . <5c Lum ber C o., owning line from Kinston to Pink Hill,
N. C., 25 m . Stock outstanding, com m on, *13,123,000; pref, *4,800,000.
O R G A N IZ A T IO N .— A consolidation N ov. 23 '06. per plan V . 82, p. 929.
R e c e i v e r s h i p . — In July 1908 receivers were appointed.
H arry K . W olcott
and Hugh M. Kerr o f Norfolk are now receivers. V . 87, p. 38; V .88,p .1002.
Sold In foreclosure D ec. 7 1909 to the reorganization com m ittee under the
"first and refunding m ortgage.” V . 89, p. 1542, 994; V . 87, p. 1605.
In Dec. 1908 *1,000,000 6 % 1-year receivers’ certificates were sold , due
Dec. 29 1909, subject to call at par o r renewable for 1-year at receivers’
option. T hey rank ahead of the "first and refunding” m tge., any subseuent Issue In excess of *500,000 to be subordinate In lien thereto.
$358,281 Dec. *177,476
. *180,805
o v . 1909 *442,865 one-year 5 H % receivers’ certs., dated D ec. 1 1909,
. p. 341. 738 ; V. 89, p. 408, 776.)
were authorized to purchase equipm ent. V . 88, p . 53; V . 87, p. 1160,
NEW YORK & OTTAWA RY. — Tupper Lake, N . Y ., to Ottawa, Can., 1415, 1605; V . 89, p. 1411, 1483.
128 m . Including Ottawa & N . Y ., whose stock Is ow ned. Successor to
R E O R G A N IZ A T IO N C O M M IT T E E .— George C. Clark of New York
the N . Y . A Ottawa R R ., acquired b y the N. Y . Cent. A H ud. R lv . R R . R athbone Gardner, Providence; Oaklelgh Thorne, John I. W aterbury and
at foreclosure sale on Dec. 22 1904, which leases the road from Feb. 1 1905. S. L . Schoonm aker. Manhattan Trust C o.. N. Y .; Old Colony Trust C o..
V 7 9 , p. 2796; V . 8 0 , p. 223; V . 86, p. 286. Stock authorized, *1,250,000. Boston, and Union Trust C o., P rovidence, depositaries. In D ec. 1908
In June 1905 a m ortgage for *2,500,000 was m ade. V . 80, p. 2458; V . 81, over 75% of the bonds had been deposited. V. 87, p. 38, 614, 936, 1479.
p 265. For year ending June 30 1909. gross, *157,881; net, *71; other
R E O R G A N IZ A T IO N P L A N .— The plan maae public b y this com m ittee
income, $984; charges, *62,404; bal., d ef., $61,349.— (V . 86, p . 286.)
In Sept. 1908 was given In V.87, p.614,678, providing for the organization of
r NEW YORK PHILADELPHIA & NORFOLK RR.— In Jan. 1909 all but a new com pany, which will authorize *16,000,000 stock and *12,000,000
*7 250 of the *2,500,000 stock had accepted the offer of the Pennsylvania new bonds (see table a b o v e ), the annual fixed charges being reduced from
R R to buy the stock with 4 % 40-yr. trust certfs., guar. prin. and Int. *1,270,746 to *605,516. The road Is to be sold under the” first and refund­
ing m ortgage.” subject to four underlying Issues, aggregating S3.220.000.
by Penna. R R . on basis of *3,000 certfs. for *1,000 stock.
The plan provides $5,573,632 cash to retire the outstanding collateral
NEW YORK & PUTNAM R R — Owns 155th St. and 8th A v e ., N . Y . trust notes (thus subjecting the equipment covered b y the *1.140,000 equip­
City (terminus Manhattan E levated), to Brewsters, N . Y ., 54 miles; double­ ment bonds and the *2,040,000 first gen. mtge. bonds pledged thereunder
track branch to Yonkers, 3 miles; operates 2 miles; total, 59 miles.
to the Hen of the new m tg e.), also to retire *47,000 Ral. & Paml. Sound
H IS T O R Y .— Successor to the N . Y . A N orthern, sold under foreclosure bonds and *1,128,184 floating debt and furnish *1,545,500 to com plete
o f 2d m tge. Dec. 28 '93, and purchased for N . Y . Cent. A H ud. R lv .R R ., construction o f the road and *600,000 working capital. The first & refg
which owns *6,500,000 stock and leases the road .— see V . 63, p . 754, 820, bonds will receive In new stock *1,142 80 per $1,000. In D ec. 1909 99%
1159- V . 81, p. 265. N. Y . Central guarantees the consolidated mort- of the first and efunding bonds had been deposited.
The new bonds (auth. Issue *12,000 000) aro to be secured b y all prop­
age bonds, of which *1,000,000 were reserved for Im provem ents; also
erty ow ned. Including terminals, railroad and floating equip, and securities,
1,200,000 to retire at m aturity the first 5s.— (V . 82, p . 272.)
except the stock and the *10.000.000 bonds or property of the John L.
NEW YORK & ROCKAWAY BEACH RY.— Owns Glendale Jet. to R ock - R oper Lum ber C o., which may or may not be subjected to the lien o f the
away Park, 10.67 m ., with branch, 1.67 m .; total, 12.34 m .; double-track. new m tge. Of the new 1st 5s, *5.780.900 are to be sold to provide the cash
S tock, *1,000,000; par, *100. Leased 50 years from July 1 1904 b y Long requirements o f the new com pany, $3,220,000 are to be reserved to retire
Island R R . C o., whose endorsem’ t Is printed on first mtge. bonds. On Jan .l
the underlying bonds and the remaining *3,000,000 for future requirements,
1909 *101 000 firsts were owned b y L. 1. R R ., together with *967,000 of of which *1,000,000 m ay be Issued by the board o f directors In Its discre­
the incom es. V . 83, p. 890. Cal. year 1908, gross, $904,237; net, *307,- tion and the other *2,000.000 only with the consent o f tho holders o f at
5 5 6 ; X ? g e s and taxes. *197,958; bal., sur.. *109,598.— (V . 83, p. 890.)
least three-fourths o f the new capital stock.
The collateral trust 6% notes of 1907 ($2,750,000 authorized Issue) are
NFW YORK SHORT LINE RR. — Owns a cut-off for the Reading Co.
between Cheltenham and Neshamlnyi Falls, 9M miles, opened May secured b y deposit of *1,000,000 1st and ref.m tg. bonds o f N orf. A S o .R y .
1906
V . 79, p. 1038. T o be 4-tracked— 2 tracks laid at present and on *2,040,000 1st gen. mtge. bonds o f N. A S R R . and *1,080,000 equipm ent
2 miles 3 tracks. Leased to Phlla. & R eading R y . for 990 years from Feb. 1 trust 5s due *60,000 seml-an. to N ov. 1 1917. V . 85, p. 1516; V . 86, p. 3*8.
1907.
The *250,000 stock Is owned b y R eading C o., which guarantees the
E A R N IN G S.— 5 m os.,|1909..................Gross, *1,091,545; net, *407,320
bonds, principal and Interest.— (V . 84, p. 1552; V . 87, p. 1421.)
July 1 to N ov. 30. 11008....... .......... Gross,
940,871; net, 270,051
NEW YORK SUSQUEHANNA & WESTERN RR.— { S e e E r i e M a p . ) 8
R E P O R T .— R eport o f N orfolk & Southern R R . was In V . 82. p . 158.
O w n e d ( i n f e e ) o r e n t i r e s t o c k . M i l e s . ]Susq. Connecting R R ----------------Balance sheet June 30 1008 was In V. 87, d . 1414. F or year ending June 30
Jersey City to Gravel PL, P a ------ 101 lOther branches.....................................24
1909, gross. *2,417,310; net, *827,712. In 1907-08, gross. *2,182,972; n et,
(Double track 19 miles.)
L i n e s le a s e d A c .
*476,134; other Income, *70,546; charges, *1,032,614; bal., d e f., *485,934.
Beaver Lake. N. J ., to Unlonvllle 21 IMlddletown Un. A W ater G a p .. 14
Office. 37 W all S t., New Y ork .— (V . 89, p. 1483, 1542; V . 90, p. 110.)
W llkesbarre & Eastern.................. 65 (T ra ck a g e............................................. - 3
NORFOLK & WESTERN RY.— S e e M a p . — System extends from N or­
folk. V a., westward to Columbus, Ohio, and northward to H agerstown,
Total road operated June 30 1 9 0 . '......................................................... .. .2 3 6
M d .,w lth branches to the various coal fields In Virginia and W est Virginia.
S T O C K .— Pref., *13,000,000; com ., *13,000,000, o f which the Erie owned
Miles.
Road owned.
M iles.
June 30 1909 *12,657,872 com . and *12,936,572 p ref., of which *6,630,000 Norfolk, Va., to Columbus, O__ 704
Roanoke to Winston____________121
com . and *6,630,000 pref. are deposited under Its Pennsylvania coll. tr. M. Radford, Va., to Bristol, T en n .. I l l Sundry branches-----------------------360
Dividends on p ref., N ov. 1891 to 1892, 2 X % yearly; none since.
4
Roanoke, Va., to Hagerstown,. 238 Columbus terminal------------------B O N D S.— G e n e r a l 5s are reserved to retire 2d 4 H a . See abstract, V . 52, Graham to Norton______________ 100 Trackage ------------------------------- 38
p. 84. The s e c o n d s are exchangeable for g e n e r a l s on paym ent of an assessm t. Nor. Car. Junction to Fries_____ 44
Total owned June 30 1909— 1,041
T e r m i n a l bonds, see Issue of Jan. 1898 and abstract. V . 57, p. 512.
Lynchburg to Durham, N. C__ 115
Portsmouth Jet. to Cincinnati
E A R N IN G S .— 5 m os.,11909.............. Gross. *1,436,179; net,
*384,418
Double
track-------------- ------- 274
and Ivorydale________________ 106
J u l y 1 to N ov. 30.
j 1 9 0 8 ............Gross, 1,297,296; net, 378,286
ORGANIZATION.— Successor In 1896 of Norfolk & Western R R ., 660..
R E P O R T .— F or 1908-09, In V . 89, p. 1341.
foreclosed per plan In V. 62, p. 641. In April 1909 Penn. R R . and sub­
Y ear—
G ross.
N et.
O th . I n c .
C h a rges.
B a la n c e .
sidiary companies owned about *3 2 .0 0 0 ,0 0 0 of the com. and pref. stocks,
1908-09 ____ *3.252,745 *1,046,272 *78,627 *1,004,712 sur.*120,187
the holdings sold In 1906 (about one-half) having been re-purchased In 1909.
1907-08
- - 3,260,075
746,560
64,200
895,066 def. 84,306
V. 83, p. 502; V. 88, p. 1062. Branches building Juno 30 1909. V. 89, p.
— (V . 83, p. 887; V. 85, p. 922, 1205; V . 87. p. 1297; V . 89. p. 1069, 1341.)

Early In the calendar year 1899 the coal properties at Scranton ,Pa., of the
Lack. Iron & Steel Co. (the capacity of the collieries then open being about
700,000 tons per annum) were purchased by the Scranton Coal Co., aided
by loans from the N. Y. O. A W ., the latter Issuing Its *2,500.000 5% notes
(reduced to *450,000 Aug. 1 1009), extending over a period of years,se­
cured by first mtge. on the coal property, and loaning *1,475,000 (of which
*305,000 has been repaid) secured by a 2d mtge., the O. & W. obtaining con­
tract for entire tonnage. V. 68, p. 41,429; V. 69, p. 604, 646; V. 81, p. 1792.
In Nov. 1900 eight Independent anthracite properties with a maximum
output of 2,000.000 tons annually were merged as the Elk Hill Coal & Iron
Co., the N. Y O. & W. Issuing Its *3,500.000 5% s. f. first lien gold notes
secured by the Coal A Iron Co.’ s 1st mtge., these notes maturing *75,000
each 6 mos., beginning June 1 ’ 01. to June 1 ’ l l , and thereafter *200,000
semi-annually to Dec. 1 ’ 15. The notes are secured pari passu with the bonds
Issued under the’gen. mtge. of 1905. The Elk Hill Co. also made a 2d mtge.
to the N. Y . O. A W. for *2.400.000 at 5% . V. 71. p. 1270; V. 73. p. 501.
L E A R N IN G S .— For 5 months ending Nov. 30:
„ , _
5 M os —
Gross.
Net.
Charges. B al., Sur.
................... *3.812,308 *1,184,927 *479,271 *705,656
19001
l o o s ] : : : : : : : : : .....................— 3.705,237
1 ,2 2 1 ,5 3 1
403,517
758,014
ANNUAL REPO RT.— Report for 1908-09 was given In V. 89, p. 776.
Coal traffic In 1908-09, 3,472,543 tons (out of 5,731,588 tons), against
3,214,124 tons In 1907-08.
In c. or Dec.
1908-09.
1907-08.
Year ending June 30—
Inc. *168,676
$8,290,170 $8,121,494
2,495,751 D ec. 74,153
2,421,588
2,998,018 Dec. 148,020
2,849,998
Inc.
958,531
1,889
960,420
165,912 Dec. 13,035
Miscellaneous Interest and dlscount.. 152,877
352,985 Inc. 40,589
393,574
1,162,308 Inc.
14
. 1,162,322

S

f

NIAGARA JUNCTION R Y — See page 173.
NORFOLK & PORTSMOUTH BELT LINE RR.— Owns Port Norfolk to
Berkley V a., 5.8 miles, and Southern branch extension, 1.37 m .; operates
under lease 1.85 mile*. In N ov. 1909 acquired control o f Elizabeth R iver




In July 1909 the Norfolk & Western and Atlantic Coast Line agreed to
build Jointly the Winston-Salem Southbound R R .. extending from WinstonSalem, N. C., to Wadcsboro. 90 miles, the two proprietary cos. to Jointly
guarantee an Issue of 1st M. 50-year gold 4s. V. 80, p. 161, 598; V. 00, p.258.

101

RAILWAY STOCKS AND BONDS.
mo.]
.,
ja m




102

RAILWAY STOCKS AND BONDS.

R A IL R O A D C O M P A N IE S
[F o r a b b r e v ia tio n s , & c ., see n o tes o n fir s t p a g e]

M ile s
R oad

D a te
B onds

1907

N & S ( C o n ) — N&S 1st & ref M $25,000,000gred llO sfT a
N e w S e c u r i t i e s to B e O u t s t a n d i n g u n d e r P l a n

First m ortgage $12,000,000 gold ___________________
Norfolk & Western R y— Com stock $100,000,000__ (i
A djustm ent preferred 4% non-cum $ 2 3 ,0 0 0 ,0 0 0 .-0
N & W gen (now 1st) M N orfolk to Brls &c g .F P .c*
New R iver Division first mortgage g o ld ____FP.c*
Im provem ent & extension mortgage g o ld -.F P c*
Scioto Valley & New Eng 1st M assum g o ld .-C e .c *
N Sc W first consol m tge $62,500,000 g o ld . Ale.c*&r*
Dlv 1st lien & gen M (text) g red 105 begin 1 9 2 9 .. 0
Pocah Joint M $20,000,000 g call 105 s f . ( i l ’ .c ’ &r
Col Con & Term 1st M gold guar p & 1 (en d ). -A lp.c*
Convertible bonds $34,000,000 gold red te x t ___-G
Notes secured by deposit of bonds_____________ (l.c*

R a te
%

$1,000 $14,000,000

5 g

W h en
P a y a b le

M

428
197
588
129
1,661
1,881
4

1881
1882
1883
1889
1896
1904
1901
1892
1907
1908

___
___
___
___
___
___

1902
1903
1903
1905
1905
1905
1906
’ 06-’ 07
___ 1902
223
86
56 1866
86 1873
1898
1907
26 1890
112 1896
83

.

144 1855
144 1885
144 '7 6 -’82

15,999,200
5,780,000
5 g
100 66,000,000 See text Q
100 22 991,700 4 in 1909 Q.
M
1,000
7,283,000
6 g
2.000,000
1,000
A
0 g
F
1,000
5,000,000
6 g
M
1,000
5,000,000
4 g
500 &c 40,400,500
A
4 g
1,000 See 23,000,000
J
4 g
1,000 19,302,000
J
4 g
500
600,000
J
5g
1,000 &c 14,576,000
-1
4 g
M
1,000
5
4,353,000

Sc

L a s t D iv id e n d
a n d M a tu r ity

N May 1 1950

P la c e s W h ere I n terest a n d
D iv id e n d s a re P a y a b le

May '08 coup, last paid

100

Equip trusts gold $500,000 yearly since '0 5 --F P .C *
do
Series A gold due $100,000 yearly-------- FP
do
Series B gold due $100,000 yea rly-------- FP
do
Series C gold guar p Sc 1 due $200,000 yrly
do
Series D gold due $100,000 y e a r ly -----------do
Series E gold due $100,000 y e a r ly -----------do
Series F to K g gu $100,000 each ser y r ly .
do
Series L to O $100,000 each series yearly.
Norristown & Alain L Con— 1st M g gu p & l(end) --G P
North Carolina— Stock 7 % .paid from rental..................
North Penn— Stock 8 % gu '990 years $6,000,000 auth
Old second M (now 1st) (7s extended In 1896)------ c
General m ortgage extended in gold In 190 3 ._F P .c& r
North Shore Cuba— First m tge $5,000,000 g red text.F
North East Penn— 1st M gold gu P & R (en d )-G u P .c*
Northern (A la)— First M ($350,000 arc prior lien ). K.c
Northern (N H )— Stock 6% rental........... ..................... ..
Northern Central— Stock ($20,000,000 authorized)___
First m ortgage State of Maryland loan (V 74, p i 197)
Consol general m ortgage of 1874 gold Series E . ___c
Second gen M Series " A ” & “ B” (A $2,565,000). FP

A m ount
O u ts ta n d in g

Par
V a lu e

[V O L . L X X X X .

1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
50
500 Sec
1,000
1,000
1,000
100
50
1 .000
1,000

1,000,000
4 g
400,000
4 g
500,000
4 g
1,200,000
4 g
600.000
4 g
600,000
4 g
3,400,000
4 g
2,800,000
4 g
250,000
4 g
7
4,000,000
8
5,405,550
1,500.000
4
3.3 g
4,500,000
4
407 000
(?»’
5g
400,000
5g
1,650,000
5
3,068,400 See text
19,342,569 8 In 1909
6
1,500,000
1,757,000
4 £4 g
3.565 000
5

50 years
M Dec 17 ’ 09 i V i
F Feb 18 ’ 09 2%
Sc N May 1 1931
Sc
O A pr 1 1932
Sc A Feb 1 1934
Sc N Nov 11989
Sc
O Oct 1 1996
Sc
J July 1 1944
Sc D Dec 11941
Sc
J Jan 1 1922
Sc
D June 1 1932
Sc N May 1 1910
50 years
M Sc S Sept 1 1910-11
.1 Sc J Jan 1 1911-13
M & S Mch 1 1910-13
A Sc o A pr 1 1910-15
M Sc N N O V 1 1910-15
Sc D Dec 1 1910-15
J
Various T o Aug 1916
Various To June 11917
M Sc S Sept 1 1952
F Sc A Aug 1 1909 3 £4
Nov 20 1909 2 %
3—1
M & N May 1 1936
,T Sc J Jan 1 1953
M & rs Nov 1 1928
M Sc <s Mcb 1 1942
A Sc O Apr 1 1920
Sc
J
J July 1 1928 •
3 — J Jan 1 1910 m
Sc
J
J Jan 15 ’ 10 4%
Irredeemable
Q —J
A Sc 0 Apr 1 1925
Sc
J Ian 1 1926
J
—
—

O ffice, Philadelphia
do
do
Mercantile Trust Co, N
do
do
do
do
do
do
do
do
do
do
do
do
Metropolitan Tr Co, N
Mercantile Trust Co, N
Guaranty T r. C o., N
Fidelity Trust Co,
do
do
do
do
Commercial Tr Co,
do
do
do
do
do
do
do
do
R eading Term inal,
Burlington, N C
O ffice, 240 S 3d St,
do
do
do
do
R eading Terminal,

Y

Y
Y
Y

Phlla
Phlla

Phlla
Phlla
Phlla

Reading Term inal, Phlla
J P Morgan & Co, N Y
1023 Old So Bldg, Boston.
Treasurer’s Office, B alto
Annapolis
Treasurer’s Office, B alto
do
do

7% on stock) balance o f lease; also taxes. V . 63, p. 361. State of-N ortb
NORFOLK & WESTERN RY. (Concluded).—
Carolina holdsl$3,000,000 stock.— (V . 66, p. 665- V . 89, p. 163.)
S T O C K .— Provisions of pret sioeu were given In "Supplem ent” of April
NORTH COAST RR. — Projected to extend from Spokane, W ash., west
1897. page 4. said *mck being 4
uon-cum . with preference as to assets
In Dec. 1909 51,530,800 treasury com m on stock was sold, raising the via Tacom a to Seattle, about 378 miles, with a southern extension from
Portland Jet. to Portland, Ore., 85 miles; Klona east to W alla W alla, W ash.,
am ount outstanding to 566,000,000. V. 89, p. 1597.
north to Davenport, 129 in.; total, 592 miles, with various branches, m aking
D I V I D ’ DS.
’ 99. ’ 00. ’ 01. ’ 02. ’ 03. ’ 04. ’ 05. '06. ’ 07. '08. ’09. 1910- an
aggregate of some 700 miles. Surmised to be the Pacific division of
Preferred (% ) . . 4
4
4
4
4
4
4
4
4
4
4 F e b ,2
som e trans-continental system . In O ct. 1909 about 100 miles graded. See
2 2 £4 3
3
3 ^ 4H 5
4 4H
____
Comm on ( % ) ....................
In Jan. 1910 It was decided to declare dlvs. ciuar. Instead of semi-annually. V . 88, p. 686; V . 89, p. 994. Stock auth., $5,000,000; par, $100. P res.,
BO N D S.— The first consolidated m tg e.of 1896 Is limited to 562.500,000, R obert E. Strahorn, Spokane, W ash.— (V . 89, p. 994.)
NORTH PENNSYLVANIA RR. — Owns from Philadelphia, P a., to Beth­
the balance unissued being reserved to retire the underlying bonds. V . 73,
lehem, P a ., 55.60 m .; Delaware R iver branch, 20.60 m .; D oylcstow n branch
p. 502; V. 74, p. 151; V. 75, p. 505; V. 77, p. 1785; V. 78, p. 229.
10.30m .; total, 86.50 m. Leased-for 990 years from May 1 1879 to Phlla.
The 4 % lsf c o n s o l s are a 1st m tge. on a large part of the system , v iz.;
about 886 miles of railroad; upon Im portant terminals at Norfolk and Lam ­ Sc Reading R R . at 8% on stock, and lease assumed In 1896 b y Phlla. &
berts Point; upon the Ohio River Bridge and the R oanoke Machine W orks; Reading R y . Current liabilities June 30 1908,.$377,292.— (V . 81, p. 668.)
besides being a consol, m tge. upon 766 miles of the system , subject to the
NORTH SHORE RR.. CUBA.— See .Section April 1908.
undisturbed liens. 'They were further secured by the equipment (cost over
511.000.
000). See abstract. V. 04, p. 376. V. 72, p. 137, 438, 532, 723, NORTH-EAST PENNSYLVANIA RR. — Owns road from Glenslde toNew
H ope, P a., 26 miles. Controlled b y Reading Co. Capital stock
1080: V. 75, p. 505; V. 79, p. 213; V . 81, p. 212.
$400,000, o f which $318,950 owned b y Reading C o.; par, $50.
The N. Sc w .-P oca h on ta s Joint bonds arc secured b y about 295,000 acres
NORTHERN ALABAMA RY.— Sheffield to Parrish, A la ., and branches,
o f coal lands owned and held by the Pocahontas Coal & Coke Co., whose
112.50 miles. In April 1899 a m ajority o f stock and bonds purchased by
stock Is ow ned, of which about 50,000 acres have been leased to companies
whose stock Is all owned by the U. S. Steel Corp. and 39,797 to other con ­ the Southern R y . V . 6 8 ,p . 824, 873. See also V . 69, p. 391.
Stock Is $2,000,000. Under supp. m tge. of 1898 $400,000 of the o u t­
cerns, the royalties under such leases alone being shortly expected to be suf­
ficient to almost meet the fixed charges. They are subject to call at 105 standing $1,700,000 1st 5s were made prior liens. V . 6 7 . p. 1208. In year
since 1906 for a sinking fund o f 2 £4 cents per ton mined. V . 73, p. 845, ending June 30 1909, gross, $435,047; oper. Incom e, $71,373; Int. on b o n d s,
902; V . 74, p. 41, 380, 1197; V. 75, p. 502. These bohds are the Joint and $82,500; rentals, & c., $43,934; bal., d e f., $55,061.— (V . 69, p. 28.)
several obligations o f the Railway Co. and of the Coal Sc Coke C o., but as
NORTHERN (N. H.) RR.— Owns C oncord, N. H .. to W hite R iver Jet.,
between the two companies the debt Is to be paid b y the latter com pany.
V t., 70 m .; branch to Bristol, N. H ., 13 m .; total 83 miles. Subsidiary lines.
D i v i s i o n a l lsf l i e n a n d g e n . m t g e . 4s of 1904 (535,000,000) authorized for
Concord & Claremont R R ., 71 m .; Peterborough Sc Hillsborough R R .. 19 m.
future capital requirements are a 1st lien on extensions and branches not
Lease to Boston & Lowell for 99 years from Jan. 1 1890 was assigned tocovered b y the 1st consol, m tge. aggregating 220 miles, and upon such e x­ Bos. Sc Me.; rental was 5% on stock till July 1 1897, and now 6 % , payable In
tensions and branches as may be acquired from the proceeds of the new gold. Until July 1897 1 % extra was paid regularly from contingent fund
bonds and also a lien subject thereto upon the properties'covered thereby.
Also In 1894, Jan., 5 % extra was paid; In 1896, July 2 % extra; In 1897, 5%
Of the bonds 523.000,000 have been sold for Im provem entsand new equip­ extra; In July 1904, £4% extra .— (V . 65, p. 463; V. 78, p. 2385.)
ment. V. 78. p. 1549; V. 79, p. 501, 628, 973, 1642. 1704, 2148; V. 80.
NORTHERN CALIFORNIA RY.— See Southern Pacific R R .
p. 1175; V . 82, p. 510; V . 83, p. 1471; V. 88, p. 231, 453. The equip, trusts
NORTHERN CENTRAL RY.— Owns Baltimore, M d., to Sunbury. Pa ,
(series L to O, 5706,000 each) sold In 1909 mature 5100,000 per series yearly
beginning Dec. 1 1910, and March, April and June 1911. V . 89, p. 919.
136 m.; of which 132 m. double track— branch, 9 m .; leases— Shamokln V al.
In April 1908 57,500,000 2-year notes were sold, secured b y deposit of
& P ottsv. R R ., 38 m .; Elmira Sc W 'm sport ItR ., 74 m .; operates at cost—
510.000.
000 first lien and general 4s, of which 53,147,000 re-purchased toElmira Sc Lake Ont. R R ., 100 m .; Lykens Val. R R ., 19 m .; also since June 1
D c 1 1909. V. 86, p. 1043, 1101.
1902, York Hanover Sc Frederick R R ., 56 m .; York branch Penn. R R .
The stockholders Oct. 11 1906 authorized an Issue of 534,000,000 con ­ York, Pa., to Columbia, 13 m .; other, 4 miles; total, 448 miles. Also use*
vertible bonds and an Increase In the com m on stock from 566,000,000 to
N. Y . L. E. & W . and other tracks, 14 miles. V . 78, p. 773.
5100.000. 000, to provide for the conversion. V . 83, p. 380, 435, 575.
O R G A N IZ A T IO N .— A consolidation o f several roads In 1851. Con­
T o provide for double-tracking and new equipm ent 514,576,000 of the bonds trolled by the Penn. R R ., which owns a m ajority o f the stock
were olfered to the shareholders early In 1907 and underwritten ;thesc bonds
In Jan. 1910 a com m ittee was appointed to consider whether a more per­
are convertible Into com . stock, 5 for 5, prior to June 1 1917, and thereafter manent and remunerative operating agreement or lease can be made w ith
subject to call at 105 and Int. V. 83, p. 1412, 1471; V . 84, p. 1248; V . 85, the Penn. R R . V. 90, p. 237
p. 469; V. 86, p. 109. 286.
SE C U R IT IE S O W N E D .— On Jan. 1 1909 among the assets held were
G E N E R A L FIN A N C E S .— Of the traffic In 1908-09 65% (13,117,598
Elmira Sc Lake Ont. stock (all), $1,500,000: Sham. Val. Sc P ottsv. stock ,
tons) was bitum inous coal and coke: average rate per ton per mile. 0.460 $619,650; Union R R . stock. $1,225,000 (the bal. of $875,000 being held by
cents; train-load, 616 tons. In Dec. 1909 dividend rate was Increased to 5 % .
Phlla. W llm . Sc B alto.), Scc. Also the following, m ostly acquired In 1900;
Balt. Sc Ohio pref. stock, $1,000,000 and co m ., $1,048,700; Norf. & W est,
E A R N IN G S .— For 5 mos. ending N ov. 30
pref. $500,000, and co m ., $1,000,000; Erie Sc W . T ransp.C o.stock, $500,000.
G ross.
N et.
I n t., T a x es, & c.
B a l.,S u r .
1909 .......................514,543,358
56,117,106
52,326,189
$3,790,917
ST O C K .— Authorized Issue was Increased In Feb. 1900 from $8,000,0005,010,438
2,183,334
2,827,104
1908 ____________ 12,323,597
to $12,000,000; Penn. R R . on Jan. 1 1909, owned $10,577,200.
R E P O R T .— R eport for 1908-09, V . 89, p. 590, 597 (see editorial, p. 565).
DI VS 1888 '89 '90 '91 '92 *03 1894 to 1900
1901 to Jan 1910
Y e a r e n d i n g J u n e 30—
1908-09.
1907-08.
In c. or D ec.
P e rc e n t. 7
8
8
7 8
'9
7 yearly
*8 ycarlv (J&J)
Miles June 3 0 ......................................
1,941
1,920
+2 1
•Also Jan. 1907 12£4% paid In stock ($2,149,169). V . 83, p. 471.
Passenger earnings.................
$3,642,837
$3,977,482
■— $334,645
E A R N IN G S .— 11 m os.,1 1909............Gross, $ 11,230,508; net, $2,500,130
Freight earnings_________________ 24,710,591
23,990,630
+719,961
Jan. 1 to N ov. 30.
J 1008............Gross, 10,409,408; net, 2,470,530
Mall, express, & c......... ...................
973,673
994,105
— 20,432
A N N U A L R E P O R T .— Fiscal year ends Dec. 31. President’s report or
1908, given at length in V . 88, p. 559, 570, showed the following:
T otal gross earnings....................$29,327,101 $28,962,217
+$364,884
Y e a r e n d i n g D e c . 31—
1908.
1907.
1906.
1905.
Operating expenses______________ 17,729,756 18,764,714
— 1,034,958
Miles of roa d ___________
462
460
462
462
Gross
earnings___
$11,264,986
$13,237,498
$11,632,633
$10,531,962
+
51,399,842
$10,197,503
T otal net earnings_____________ $11,597,345
Net earns, (over tax es).
2,228,920
2,358,865
2,385,341
1,850,114
+ 1,459,991
T otal net Incom e_________________ $12,578,458 $11,118,467
Other receipts___
1,247,049
1 ,247,425
1,151,602
1 ,157,418
+ 453,053
4,290,180
Interest on bonds, & c.................. .. 4,743,233
1,020,800
1,008,800
— 12,000
Total net Income .$ 3 ,4 7 5 ,9 6 9 $3,606,290
$3,536,943 $3,007,532
150,000
192,000
— 42,000
D ef. In Int. P. C. & C. bon d s_____
Rentals, & c..........
$437,928
$408,759
$436,516
$368,998
919,668
+ 12
919,656
D lvs. on pref. ( 4 % ) ______ _______
Interest on debt, &c . .
653,728
519,440
384,639
360,182
D lvs. on com m on________________ (4)2,578,768(4 £3)2,901,114
— 322,346
Dividends, 8 % .... 1,547,400
1,547,214
1,375,468
1,375,468
152,817
87,371
R e n t s ...................................................
+ 65,446 M is c e lla n e o u s ..;______
84,097
110,280
10,226
49,790
+ 370,580
1,730,580
1,360,000
Betterm ent fu n d ......... .....................
E x tra o rd in a ry __
600,000
500,000
1,100,582
827.721
Advances to subsld. cos., & c____
................
+ 8,175
8,175
Balance, surplus.........
$152,817 ~ $527,597
$229,511
$25,374
— (V. 84, p. 513: V. 86. p. 475, 485, 544; V. 88, p. 559; V. 90, p. 237.)
Balance, surplus........................... 51,286,417
$347,346
+$939,071
NORTHERN
RR.
OF
NEW
JERSEY.—
Owns from Bergen, N. J ., to
O F F IC E R S .— Pres., L. E. Johnson; Chairman of Board .H enry.Fink, 27
N. Y ., 21 m .; leases Sparklll to N yack, 5 m. Leased to the Erie
William S t., N. Y .; V .-P ., VV’m. G. Macdowell; S ec., E. H. Alden; Treas., Sparklll,
R R . from June 1 1899 for the term of Its corporate existence, for Interest
Jos. B. Lacy. General office, R oanoke, V a., Philadelphia office, Arcade on bonds, 4% on $1,000,000 stock, payable quarterly, taxes, and all cor­
Building, Market and 15th Streets.
porate expenses. Of the $1,000,000 new 4 £4 % sen. m tge. bonds, guaran­
Directors— Henry Fink, V ictor Morawetz, Levi C. W eir, New York; L. E. teed by the Erie, $654,000 are reserved to retire the 6s due July 1 1917 and
Johnson, R oanoke, V a.; Samuel Rea, W . G. Macdowell, Joseph I. Doran the remainder for Improvements and betterments or qulpm ’ t for operation
and John P. Green, Philadelphia; Joseph W ood , Henry C. Frick. Pitts­ b y electricity o f the leased properties. See V. 69, p. 81.— (V . 71, p. 30.)
burgh; W alter H . Taylor. N orfolk, V a .— (V. 89, p. 1597; V . 90, p. 237.)
NORTHERN R Y. COSTA R IC A .— See V . 71, n. 1067, and United Fruit
NORRISTOWN & A1AIN LINE CONNECTING RR.— Owns double-track Co.: V. 75, p. 849; V . 78, p. 288; V. 80, p. 223; V . 81, p. 614.
road .65 mile long, Incl. bridge over Schuylkill River, extending from Norris­
NORTHERN OHIO RAILWAY.— (.S ee M a p L a k e E r i e &. W e s t e r n . ) —
tow n, to a connection with the main line of the Phlla. & Read, at a point
above Bridgeport, Pa., Leased to Phlla. Sc Read. R y . at 4 % on stock and Owns Akron to Delphos, O ., 165 miles; branches, 2 miles. Leased In per­
Interest on bonds. The Reading Co. owns all the $50,000 stock and guar­ petuity to L. E. Sc W., which guarantees the bonds. V . 62, p. 826. _
antees the b ond s.— V . 75, p. 1148.
S T O C K . —Common stock (all owned by L. B. Sc W . ) . $3,580,000; pre­
NORTH CAROLINA RR. — Owns from Goldsboro to Charlotte, N. C ., ferred non-cum ulatlvc 5% stock, $650,000; par o f each, $100.
221.65 m .; Carolelgh Jet., N. C ., to Carolelgh Mills, 1.90 m .; total, 223.55
B O N D S .—The f i r s t mortgage Is for $4,000,000; of which $1,500,000 un­
miles. Leased from Jan. 1 1896 to the Southern R v . Co. for 99 vears at issued are limited to $15,000 per mile of com pleted road hereafter con­
$266,000 (6£4% on stock) per year till Dec. 31 1901 and $286,000 (equal to structed or purchased. Operated as part of L. E. & W . V. 66, p. 337.




Jan . 1910.]

RAILWAY STOCKS AND BONDS,

RAILROAD COMPANIES
[For abbreviations, A c., see notes on first page]

Miles Date
Road Bonds

Northern of New Jersey— Stock guar (see V 69, p 81).
Thlrd mortgage (now first) Interest guaranteed__ c
21
Gen mtge 81,000,000 gold lnt guar by lease.. Usm.c*
Northern Ohio— 1st M g (815,000 p m) gu p & L.Ce.o*
Northern Pacific Ry— Stock 8250,000,000 authorlzedSt Paul & N P gen M land grant assumed--Ce.c* &r.
182
do
do
registered...................................
182
Wash & Columbia River 1st M gold assumed--F c*
163
New mortgages of Northern Pacific Railway—
Prior lien M 8130,000,000 gold land gr-_Ale.c*&r See
General lien M 8190.000,000 gold land gr_.F.c*&r See
St Paul-Duluth Dlv pur money M 520,000,000. G.c*
226
C D 4 Q coll tr M g (red since Jan '06 at 105). S.c&r
do
do
registered_________________
Bonds Underlying St Paul A Duluth Div Mortgage
167
St Paul & Duluth first mortgage assumed_______ c*
Second mortgage assumed............................. Ce.c*
167
21
Taylor’ s F & L Sup 1st M s f not drawn----- Ce.c*
25
Duluth S L 1st M p & I sink fd not drawn..Ce.c*
238
Consol mtge assumed 85,000,000 gold____ Mp.c*
Northern Pac Term Co— First M gold red at llO -.F .c*
Northern Railway (Cal)— See Southern Pacific R R .
Northern Securities—Stock 83.954,000--------------------Northwestern Coal Ry— First M guar (end) gold-F.c*
399
Northwestern Pacific— Stock (835,000,000)------------- F
Cal Northw 1st M g guar by St F & Nor Pac sink fd .
40
San Frapclsco & Nor Pacific 1st M gold s f_Me.c*&r
165
North Pacific Const general mtge (now first) g o ld -.c
90.5
Eel River & Eureka first mortgage............................
lst&ref M 835,000,000 g red 110 aft 10 yrs.F.xc*&r
Northwestern RR of South Car—First M 8375.000 . . .
66
Northw Term Ry —1st M gold guar p & 1 red— Ale.c*
Norwich & Worcester— Preferred stock 8% rental__
'72
Bonds (not mtge) lnt guar underlease currency.c&r
Norwood & St L— 1st M 5300,000 g red 110 In 10 yrsTa
7H
Nova Scotia Eastern— First mortgage gold red (text). Text
p Berlin at 4.20 marks per dollar, z 5,130 miles, In cludln

1887
1900
1895

__

1883
1883
1895

Par
Value

Amount
Outstanding

5100 51.000,000
4
100 &e
654,000
6
1,000
154,000
414 g
1,000
2,500,000
5g
100 248,000,000 7 In 1909
1,000 8,021,000
6g
1,000
6g
1,000
2,620,000
4 g

1896
500 &c
1896
500 &c
1,000
1900
1901 1,000&C\
1901 1.000&CJ
1881
1887
1884
1886
1898
1883

__

1893

1858
1889
1892
1894
1907
1899
1906

—

1897
1902
1905
g 40 m

Rate
%

1,000
1,000
1,000
1,000
1,000
1,000

108,006.500
60,000,000
*7,889,000
107.613,500 J
\
1,000,000
2,000,000
210,000
500,000
1,000,000
3,443,000

When
Payable

Q— M Dec
& J July
& J Jan
& O Oct
Q—F F^b
F & A Feb
Q—F IFeb
J & J July

5

4g
6g

Q—J
Q— F
& D
& J

J P Morgan, N Y ; & Ber p
do
do
do
do
do
do
do
do

& A Aug 1 1931
& O Oct 1 1917
& J Jan 1 1914
M & S Sept 1 1916
J & D June 1 1968
J & J Jan 1 1933

-J P Morgan & Co, N Y

Q -J

Jan
Jan
Dec
July
July

1909 1% 50 Church St, New York
1 1917
do
do
1 2000
do
do
1 1945
Chase National Bank,NY
1 1910 1 h J P Morgan & Co, N Y
1 1923
do
do
1 1923
1 1935
Farmers’ L & Tr Co, N Y
1 1997
1 2047
1 1996
1 1921
1 1921

J
J

4 g

5
5
6

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

J
J
A

4 g

3g
4g
4g

103

F
A

J

100 3,954,000 See text See text Jan 1 0 ’ 10 2]4%
1,000
794,000
5 g
M & N fMay 1 1923
100 35,000,000
5
1,000
972,000
5 g A & O Apr 1 1928
1,000
3,80G,000
5 g J & J Jan 1 1919
1,000
1,498,000
5 g J & J Jan 1 1912
1,000
313,000
5
A & O Oct 1 1914
1,000 &c
5,694,000
4H g M & S »Mch 1 1957
1,000
285,000
4
A & O Apr 11949
1,000
2,025,000
5 g J & J July 1 1926
100 3,000,000
8
Q—J Jan 1 1910 2%
1,000
1,200,000
4
M & S Mch 1 1927
500 &c
100.000
5 g A & O Apr 1 1932
£100
(?)
5 g J & D 30 ,1955
Ilc3 not o perated; sp urs, 261 miles. • y June 30 1909

NORTHERN PACIFIC RAILW AY.— (See M aps.)— Operates one of the
leading lines to the Pacific, having Its eastern termini at St. Paul, Minn.,
and Duluth, Wls. (the head of Lake Navigation), and running thence west­
erly; 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., with branches.
Main line.
Miles.
Leased to others.
Miles'
Ashland. Wls. to - Portland,
To other companies__________
9
Ore. (incl. 5 m. terminals)..2,171 To Province of Manitoba.......... 355
Bralnerd and Staples to St.
Not operated_________________
22
P a u l..................................... 181
Other lines................................... 522
Total (Inc. 48 m. trackage)..6,118
Controlled properties—
Total main lin e .................... 2,874 Minn. & Intern. (V. 77. p. 451). 175
Various branches____________ 2,859 Other companies_____________
75

Deduct—
1908-09.
Hire of equipment__ _____ __________ _____
Rentals paid______________________
8337,136
Interest on funded debt____________
6,775,003
lnt. & com-, on new stk. subscrip’s . . 3,268,416
Dividends on stock (7 % )___________ 14,105,000
Depreciation of equipment.................
Insurance fund...................................

do

do

Winslow,Lanler&Co.N Y
Checks mailed
Farmers’ L & Tr Co, N Y
San Francisco & New Yk
New York and Frankfort
Co’ s office, San Francisco
Eureka
New York
Safe Dep & Tr Co. Balt
Merc Tr Co, X Y & Denv
Mech Nat Bk, Worcester
Company’ s office Boston
City Nat Bk, Watert.N Y
5191,000 add’ l In treasur
1907-08.
8318,718
7,098,908
3,106,883
10,850,000
2,784,950

1906-07.
5879,256
245,539
6,994,620
159,727
10,850,000
5,926,753

Net surplus for year.........1............. 57,534,350 56,258,118 56,697,176
DIRECTORS.— Arthur C. James, George F. Baker, William Sloane,
J. Pierpont Morgan Jr., Lewis Cass Ledyard, Howard Elliott, Charles
Steele, George W. Petklns, William P. Clough, James X. Hill, Amos Tuck
French, Alex. S. Cochran, William S. Tod, Payne Whitney and Grant B.
Schley.
OFFICERS.— Pres., Howard Elliott, St. Paul, Minn.; V .-P ., James N.
Total, Incl. 5 m. trackage
Total system June 30 1909___ 6,368
Hill: Sec.. George H. Earl, New York; Treas., C. A. Clark, St. Paul.
(operated directly).............5,733 ISecond track................................ 470 N. Y. office, 34 Nassau St.— (V. 89, p. 529, 912, 1138, 1153, 1348.)
The Manitoba branches, aggregating 354 m., were leased for 909 years
NORTHERN PACIFIC TERMINAL COMPANY. OF OREGON— Owns
from May 31 1901 to the Provincial Government and sub-let by the latter to terminals
on the Willamette River. Ore., at Portland, East Portland and
the Canadian Northern Ry. at a rental of 5210,000 annually for the first 10 Albina, comprising
270 acres land, 38 m. track, dock frontage 7.904 feet.
years, then 5225,000 for 10 years, then 8275,000 for 10 years and thereafter
LEASE.— Leased for 50 years from Jan. 1 1883 Jointly and severally to
8300,000, with option of purchase any time for 57,000,000. V. 73, p. 610.
Spokane Portland & Seattle R y., Joint line with Great Nor., build­ Northern Pacific, Oregon Ry. & Navigation and Oregon & California, with
ing from Portland to Spokane, Wash., with branches; total, 417 miles, was guaranteed rental to pay Interest, sinking fund and taxes; leases assumed
completed May 1909; see V. 81, p. 1101; V. 83, p. 1111; V. 86, p. 1530. In 1899 by new Nor. Pac. and Oregon R R . & Nav. V. 69, p. 230.
Line Glendlvc, Mont., to Mandan, Nor. Dak., 250 miles, is proposed,
STOCK.— Slock (53,000,000) owned by said three companies (40% by
contract for 50 miles let. In May 1909 arranged for joint use of Co.’s Oregon R y. & Nav. Co., 40% by Nor. Pac. and 20% by Oregon & Cal.
line between South Tacoma and Vancouver, Wash., 135 miles, with R R .), and held by Central Trust Co. of New York, to be delivered after
Great Northern and Union Pacific. V. 88, p. 1373.
payments to the sinking fund, which Is to cancel the bonds.
BONDS.— The first mtge. Is for 85.000,000; in Ja \. 1910 54,275,000 had
HISTORY.—This Wisconsin company on Sept. 1 1896 succeeded to the
railroads, land grant and other property of the Northern Pacific R R . been Issued, of which 5832,000 retired by sink fund— drawings at 110 and
Interest.— (V. 87, p. 930; V. 88, p. 232; V. 89, p. 163; V. 90, p. 237.)
foreclosed In July 1896 and reorganized per plan In V. 62, p. 550.
The original Northern Pacific Company was chartered by Congress July 2
NORTHERN SECURITIES CO.— In 1904 the U. S. Supreme Court de­
1864; 450 miles to Bismarck were foreclosed In 1875.
clared the company to be a combination In violation of the Anti-Trust Acttherefore Illegal. V. 76, p. 811, 919, 1249; V. 78, p. 1168.
STOCK.—The 575,000,000 preferred stock was paid off at par on Jan. 1 and
The stockholders voted on April 21 1904 to reduce the stock from 5395,­
1902, the common being Increased from 580.000,000 to 5155,000.000.
400,000 to 53,954,000, the par value of shares to remain 5100, representing
Stockholders in Jan. 1907 subscribed for 593,000,000 new stock at par
remaining assets In the treasury, pending completion of dissolution.
paid In Installments to Jan. 1909. V. 83, p. 1471, 1524; V. 84, p. 221’ the
V. 78, p. 1223, 1275, 1392. Report for cal. year 1909 was in V. 90, p. 233.
DIVIDENDS—
1 ’01. ’02. ’03. ! ’Q4. ’05. ’06. ’07. ’08. ’09. 1910. *
DIVIDENDS.— On stock as reduced 5% yearly 1906 to 1908; 1909,
On common ----- (%)!• 4 5 «
7 6H
7
7
7 *7
7 F eb., 1 H Jan., 4% ; 1910, Jan., 214%.
On pref. (ret) . . . ( % ) J 4 1 . . . .
OFFICERS.— Pres., James J. Hill; Sec. and Treas., E. T. Nichols: Gen.
• Also Dec. 1908 11.20%fromsur. of N. W. Impt Co. V. 87, p. 1238. Counsel,
W. P. Clough. Office, 26 Liberty St.. X. V.— V. 90, p. 233.)
.
— Abstracts of the new Prior Lien and General Lien mortgages
NORTHWESTERN COAL R Y — See page 173.
of 1896 were in V. 63, p. 1012-1019, 1072.
NORTHWEST.—See Chicago & North Western.
Prior lien 4%s purchasable with land sales at not exceeding.
110 (but not subject to call), not over 8500,000 cash yearly.
NORTHWESTERN PACIFIC RR.—Operates a system extending from
to be so applied. Total Issue...................................................5130,000,000
Point Tlburon, Cal. (whence ferry to San Francisco, 6 miles), northerly to
Issued (of which 56,005,000 In treasury June 30 1909)........... 108,006,500 Eureka, with branches, 399 miles In all. Incorp.-Jan. 8 1907 In the Interest
Issued, but purchased and canceled...........................................
4,665,500 of South. Pac. and Atch. Top. & S. Fe,which each owns517,499,500 stock,
Reserved tq retire St. Paul & N. P. and West. R R , bon ds..
8^28,000 and took over by consolidation the Cal. & Northw., San Fran. & X. Paclfle,
For new construction, betterments, equipment, &c., under
North Shore R R ., San Fran. & Northwestern, Eureka & Klamath River
carefully guarded provisions, but not exceeding 51,500,000
and Fort Bragg & Southeastern. A connecting line of over 100 miles Is to be
per annum. Originally 525,000.000—still held__________
8,500,000 built from Willlts to Pepperwood, 30 m., to be completed In summer of 191 0.
Of the 8190,000,000 general lien bonds, 8130,000,000 are reserved to
BONDS.— San Fran. & North. Pac. 5s Issued at 525,000 per mile; s. f.,
retire the prior Hen bonds at maturity.
The St. Paul A Duluth Division mortgage secures 520,000,000 purchase 525,000 y ’ly; bonds drawn at 110 and lnt. (mtge. abstract V. 49. p. 241.)
As to old North Shore 5s dated 1902, see V. 80. p. 1913; V. 74. p. 1252.
money bonds on the former St. Paul & Duluth, of which 59,215,000 were
Of the first and refunding 4 ^ s of 1907 (S35.000.000 auth.), 55,694,000
Issued to acquire the road, 85,283,000 are reserved to retire existing St. P.
& D. bonds and the balance for Improvements to the property. V. 70, p. was outstanding Jan. 1909, all owned by Southern Pacific; the mortgage,
1250; V. 71, p. 1167. The lands Included In the grant of the former St.Paul reserved 56,676,000. to retire a like amount of underlying bonds, 85,­
& Duluth are estimated to be worth about 84.000,000, and were not cov­ 000,000 for Improvements and equipment and 513,324,000 for branches
ered by the old mtges. They are to be sold and proceeds applied to pur­ or extensions. Including one from Shively to Wlllets and from WendV. 84, p.
chase of the bonds at not over 105 and Interest, or, If not purchasable at llng to a connection with the line from uklah to Tlburon.
that price, then to betterments, Improvements or additions to the mort­ 221, 694: V. 85. p. 222.
EARNINGS.— 5 mos.,11909________ Gross, 81,533,707: net, 5569,655
gaged premises or equipment therefor. To July 1909 52,339,000 hud
July 1 to Nov. 30. 11908________ Gross, 1,497,197; net, 469,023
been thus purchased and canceled. V. 71, p. 1167; V. 72, p. 339.
for year ending June 30 1907 In V. 85. p. 861. Year ending June
LAND GRAN T.—The land grant was 12,800 acres to the mile In the 30 Report
1909,
gross, 53,022,977; net, after taxes, 5662,992; otherlncome, 5133,­
States of Minnesota and Oregon and 25,600 acres per mile In the (then) 016; charges,
8674,442; bal., sur., 5121,566.
intermediate territories. Unsold on June 30 1909, 10,160,560 acres, viz.:
NORTHWESTERN RR. OF SOUTH CAROLINA.— 'See Map Atlantic
Minnesota-----------------------29,5771I d a h o ................................ .. 447,048
Coast Line.)— Wilson Mill, S. C., via Sumter to Camden, 62.5 mites: branch,
North Dakota___________
5,156 Washington.........................2,315,494
Montana ------------------------ 6,902,512JO regon__________________ 366,553 Millard to St. Paul, 3.5 m.; trackage, 5 m.: total, 71 miles. Stock, 5100,000.
Dividend, 6% paid yearly Dec. 1900 to 1902; 1903 to 1905, 6% ; 1907 and
Sales In 1908-09,340,281 acres. Net cash receipts, 51,245,602.
1908, 4% . Year ending June 30 1908, gross, 598,064: net, 528,642; lnt.,
FINANCES.— In 1004 Nor. Pac. and Gt. Northern had acquired 5107,­ taxes, &c., 518,026; dividends (4% ), 54,000; bal., sur., 56,615.
612,600 of the 8110,839,100 stock of Chic. Burl. <Sc Quincy R R . In exchange
NORTHWESTERN TERMINAL RY.— Owns terminals covering 36 acres
for their Joint 20-year
gold bonds secured by the deposit of the stock In
Denver and 54 acres of right of way in that city, and 40 acres of freight
trust, on the basis of 8200 In bonds for each 8100 stock. See circular, at
terminals at Utah Junction, 3 miles north of Denver. Leased for 99 years
V. 72, p. 871, 1034, 1135; V. 73. p. 204, 610; V 85, p. 601.
for Interest, taxes and maintenance to Denver Northwestern & Paclfi*.
which owns the 53,000,000 stock and guarantees bonds, prln. and lnt.
EARNINGS.— 5 mos., j 1909_____ Gross, 835,681,803; net, 516,285,530
Bonds (53,000,000 auth. Issue) are redeemable from July 1 1911 to July 1
July 1 to Nov. 30.
11908---------Gross, 32,004,574; net, 15,743,811
1916 at 105 and lnt.; thereafter at 102
V. 89, p. 994. Denver Laramie
REPORT.— Report for 1908-09 In V. 89, p. 912, 1138, 1153, 1116.
& Northwestern also uses facilities.— (V. 89, p. 994.)
Years ending June 30—
1908-09.
1907-08.
1906-07.
NORWICH & WORCESTER RR.— Owns from Norwich, Conn., to Wor­
Average m ile s ....................................
5,671
5,633
5,444
Mass., 59 miles; branch. Norwich to Groton, 13 m.: total, 72 miles.
Freight earnings___ _______
547,073,305 846,423,836 547,650,369 cester,
Leased to New England R R . for 99 years from Feb. 1 1869, and accepted by
Passenger earnings_________________ 17,330,608 18,133,238 16,320,861 N.
Y. N. H. & II. In 1898; rental 8% on pref. stock.—V. 70, p. 125.
Other revenue from transportation.. 3,416,102
3,065,076
3,002,968
Revenue other than transportation..
640,732
598,526
491,436
NORWOOD & ST. LAWRENCE RR.— Norwood to Waddlngton, N. Y .„
20 miles, Incl. extension, 13 m ., opened July 1909. Stock 5100,000; par
Total operating revenue.............. .868,460,747 868,220,677 567,465,635 of shares, 5100. Bonds are subject to call at 110 after April 1 1912. Year
Operating Income (overtaxes)_______828,322,267 526,303,433 528,876,273 ending June 30 1909 (7 miles), gross, 573,325; net, 840,586. In 1907-08,
Otherlncome_________
3,697,638
4,114,143
2,876,790 gross, 561,656: net, 523,798: lnt. and taxes, 56,059; bal., sur., 517.739.
Pres., Chas. H. Remington: Manager, F. A. Sherman, Norfolk, X. Y .;
Gross income___________ _____ ___ 832,019,905 830,417,577 531,753,072
Treas., Warren F. Howe, Watertown, N. Y .— (V. 74, p. 1090.)




104

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RAILWAY STOCKS AND BONDS
105




106

RAILWAY STOCKS AND BONUS.

RAILROAD COMPANIES
[For abbreviations, etc., see notes on first page]

Miles Date
Road Bonds

10
Ogden Mine RR— Stock (5% rental Central of N J )__
9
Ohio Conn Ry— 1st M $2,000,000 g gu p & Ktext) F.c*
26
Ohio & Kentucky— 1st M gold sink fd call at 110-Ce.c*
80
Ohio & Little Kanawha Ry— First M gold red 105-- K
172
Ohio River—First mortgage ($2,000,000) gold-.F P c*
209
General M ($3,000,000) gold flrston39 mlles.-FP.c*
33
Rav Sp & Glen 1st M $400,000 g gu p & 1— FP.c*
11
Huntington & Big S 1st M ($400,000) gold guar-.c*
111
Ohio River & Western— First mortgage $600,000 g --F
Oklahoma Central— Receivers’ certfs $500,000 auth..
132
1st M $10,000,000 redeem (text)___ ______________
__
Old Colony— Stock 7% guaranteed by rental--------- c*
Bonds not mortgage----------------------------- ------------- r
__
Bonds not mortgage (authorized $3,000,000) g.c*&r
Bonds not mortgage__________________________ c&r
Bonds not mortgage__________________________ c&r
24
Omaha Bridge & Terminal Ry— First M ($5,000,000).
57
Opelousas G & N E— 1st M $5,000,000 g gu (text) .Me
670
Oregon & Cal—1st M gold drawn at 100 gu p & 1. Un.c*
__
Oregon RR & Navigation—Common stock---------------_
Preferred stock 4% non-cumulatlve--------- ----------Consol mortgage (now first) $24,312,800 gold.N.c* 1,158
600
Oregon Short Line RR— First mtge (Ry Co) g o k l.-.c *
Utah & Northern first mortgage exten In 1908— c*
477
Cons M gu $15,000 p m s f not drawn g o ld .. AB.c*
477
Cons 1st M $36,500,000 gold (1st M on 400 m)_G.c* 1,479
Ref M $100,000,000 g gu p & l red (text) _ _Eq.c*&r
Income bonds Series A 5% non-cumulatlve.........OB
do
Series B non-cumulatlve — ........._(i
Oregon & So E— First M $300,000 g red 110 s f ----- Ta
35
Oswego & Syracuse— Stock 9% guaranteed D L & W .
Consolidated mortgage (guaranteed by D L & W ). .
35
35
Construction mortgage guar (for $1,000,000)------- F
20
Overton County— First mortgage $250,000 gold------88
Owensboro & Nashville— First mortgage gold — Ce.c*
Ozark & Cher Cent— See St Louis & San Francisco
Pacific & Eastern— First mortg gold redeem (text). K

1903
1896
1900
1886
1887
1890
1892
1903
1908
1905
___
1888
1894
1895
1902
1893
1906
1887
___
___
1896
1882
1878
1886
1897
1904
1897
1897
1902

Par
Value
$100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000

1876
1883
1905
1881

1,000
100
1,000
1,000 &c
1,000 &c
1,000 &c
100
1,000
1,000
100
100
1,000
1,000
1,000
1,000
500 &c
1,000 &c
500 &c
500 &c
500 &c
50
1,000
1,000
1,000
1,000

1909

100 &c

Amount
Outstanding

m

Rate
%

$450,000
5
2,000,000
4g
250,000
5g
228,000
5g
2,000,000
5g
2,941,000
5g
376,000
6g
303,000
6g
600,000
4g
abt.200,000
6
2,640,000
5g
20,364,000
7
4,000,000
4
3,000,000
4g
4
5,598,000
1,000,000
3H
1,750,000
5
1,143,000
5g
17,745,000
5g
24,000,000 See text.
11,000,000 4 in 1909
23,360,000
4g
14,931,000
6g
4,991,000
4 (7)
1,802,000
5g
12,328,000
5g
See text
4g
7,185,000 5% in Se
14,841,000 4 in 1909
300,000
5g
1,320,400
9
438,000 See text
5
668,000
250.000
5g
1,200,000
6g
300,00

6g

When
Payable

[Vol.

l x x x x

.

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

J
M
.)
M
J
A
F
J
M
M
J

& J Jau 1910 2
& S Sept 1 1943
& .1 July 1 1926
& s Mch 1 1950
& D June 1 1936
& O Apr 1 1937
& A Aug 11920
& J July 1 1922
& S Sept 1 1953
& N15 Nov 15 1911
& D Dec 1 1945
Q— J Ja \’ 10,1 H%
J & J Jan 1 1938
F & A Feb 1 1924
.1 & D Dec 1 1925
J & J July 1 1932
J & .) Feb 1 1943
M & S Mch 1 1956
J & J July 1 1927
See text. See text.
J & .TJan 1 1910 2%
J & D June 1 1946
F & A Feb 1 1922
J & J July 1 1933
J & J July 1 1926
J
J July 1 1946
J & D Dec 11929
pt 190£ July 1 1946
Oct
July 1 1946
A & O Apr 1 1922
F & A 20 Aug 20 1909
See text Matured
M & N May 1923
J & J Oct 1 1945
M & N Nov 1 1931

608 Chestnut Street, Phil
Farmers’ L & Tr Co, N Y
1 Broadway, New York
Knickerbocker Tr Co,NY
Central Trust Co, N Y
do
do
do
do
NewYork or Philadelphia
Hambleton & Co, Balt
New York
In default.
Office, Boston
do
do
do
Treasurer’s office, Boston
Prov Life & Tr Co. Phlla
Mercantile Trust Co, N Y
South Pacific Co, N Y
Office 120 B’way, N Y
do
do
New York and Germany
120 Broadway, NewYork
do
do
do
do
do
do
do
do
do
do
do
do
Trust Co of America, N Y
Del Lack* West RR.N Y
do
do
do
do
Colonial Tr & S Ilk, Chic
71 Broadway, New York

& D June 1 1937

Knickerbocker Tr Co,N Y

J

EARNINGS.— Year ending June 30 1909, gross, $7,099,081; net, $3,­
OGDEN MINE RR.— Owns Nolan’s Point (Lake Hopatcong) to Sparta
(or Ogden Mine), N. J., 10 miles. Leased for 090 years from Jan. 1 1882 232,011; other Income. $5,000; int., taxes, &c., $1,972,629; bal., sur., $1,to Central R R . of N. J. for 5% per an. on stock and 5500 yearly for org. exp. 264,383.— (V. 80, p. 2220; V. 88, p. 376.)
OGDENSBURG & LAKE CHAMPLAIN RY.— See Rutland RR.
OREGON RAILROAD & NAVIGATION.— (See Map Union Pac.)— East
OHIO CONNECTING RY.—Owns bridge over Ohio River near Pitts­ Portland, Ore., to Huntington, Ore., 403 m.; UmatlHa, Ore., to Spokane,
burgh. Pa.. a«d approaches, 0.08 miles. Leased from Oct. 20 1800 for no Wash., 227 m.: branches ow. cd, 512; leases Snake River Valley R R ., Waldefinite time to Pitts. Clncln. Chic. & St. Louis R y.; rental, net earnings. Iulato Grarre City, Wash., 66 m.; other, 16 m.; owns securities of, but
Stock Increased In Dec. 1902 from 51,000,000 to 52,000,000. In 550 shares. leases, Columbia River & Oregon Central R R ., Arlington to Condon, Ore.,
Bonds are guaranteed as to principal and Interest by endorsement by Penn­ 45 m., and Columbia Southern Ry., Biggs to Shanlko, 70 in.; total June 30
sylvania Company, which on Jan. 1 1909 owned the entire stock. Form of 1909. 1,340 miles, of which 13 narrow-gauge; river division water lines. 195
guaranty, V. 81, p. 009. Dlvs. In 1900, 5%; 1907 and 1008, 7% . For cal- miles. Ocean line to San Francisco, 660 miles. Elgin, Ore., to Joseph, 63
year 1908, gross, $283,010; net, 5224,998; other Income, 547,527: charges, miles, also extension of St. John’s branch, 20 miles, under construction.
The Oregon Washington & Idaho RR. Is building from Portland, Ore,,
580.000: dlvs. (7% ). $140,000: bal.. sur.. $52.525.— (V. 82. p. 752.)
OHIO & KENTUCKY RY.— Owns from Lex. & Fast. Ry. at Jackson. to Puget Sound, about 230 miles, of which Lewiston Jet. to Lewiston,
Ky., to cannel coal Helds In Morgan County, K y., 26 miles. Operated by Idaho, 72 miles, was opened July 7 1908.
ORGANIZATION.— Organized In July 1896, per plan In V. 61, p. 325,
Lex. & East. Ry.. but Independent operation resumed In July 1904. Com­
mon stock, $200,000; preferred stock, $100,000; bonds, as above. 5250,000; and V. 62, p. 41. Controlled by Union Pacific R y., directly and through Ore­
Junior securltes to be taken by stockholders, $175,000. Bonds arc guar­ gon Short Line. Owns $700,000 1st 5s (entire Issue) of Columbia Southern
anteed by Kentucky Block Cannel Coal Co. Year ending June 30 1909, gross, R y., Biggs, Ore., to Shanlko, 71 miles. V. 73, p. 1363.
576,667; net; $20,300. In 1907-08, gross, $86,016; net, $24,201; charges,
STOCK.— In July 1909 all except $20,100 com. and $3,410 pref. stock
$26,403; bal.. def., $2,202. Pres., W. de L. Walbridge, 1 B’way, N. Y.
was owned by Un. Pac. system, being mostly deposited under Ore. Short
Line
refunding 4s of 1904. V. 70. p. 177; V. 80, p. 1913.
OHIO & LITTLE KANAWHA RY.—Zanesville, O., to Marietta. &c.,
*0 miles. V. 69, p. 907. Balt. & Ohio has pledged under Its Pitts. L.E.&
DIVIDENDS.— On preferred, 1897, 2% ; 1898 to Jan. 1910, both Incl..
West Va. mtge. $585,000 common and $824,000 pref. stock. V. 73, p. 4% yearly. On common, 1% July 2 1898; In 1908, 4 % . On Feb. 20 1908
1264. Stock Is, com., $918,000; pref., $1,167,500. Year 1908-09, gross, an extra div. of 75% was paid on both pref. and com. V. 87. p. 1421.
5264,093; net. $45,757. In 1907-08, gross, $278,766; op. def., $304; other
BONDS.— Consol. 4s (abstract V. 63, p. 928) unissued are mostly re­
Income. $643; charges, $31,301; bal., def., $30,962.— (V. 73, p. 1264.)
served for add’l road at not more than $20,000 per mile. V. 74, p. 206.
OHIO RIVER RR.— (See 1i. & O. M ap.)— In July 1901 purchased by the
EARNINGS.— 5 m o s .,/1908-09___ Gross, $6,787,365; net, $3,429,355
Balt. & Ohio RR., which has pledged 55,884,400 of the $5,915,430 capital
July 1 to Nov. 30. \1907-08___ Gross, 6,081,312; net, 3,316,628
stock as part security for Its own Pitts. L. E. & W. Va. 4s. V. 73, p. 287.
For year ending June 30 1909, gross, $12,626,531, against $14,149,704
OHIO RIVER & WESTERN RY.— Owns Bellalre, O.. to Mill Run. O., In 1907-08; net, $6,219,812, against $6,953,638.— (V. 89, p. 163.)
I l l miles; narrow-gauge trackage to Zanesville, 1 mile. In Sept. 1906
OREGON SHORT LINE RR.— (See Map Un. Pac.)— Granger, W yo., to
acquired “ county railway” at Zanesville, 9 miles. Successor Jan. 1 1903 to
Bellalre Zanesville & Cine. RR. In 1905 control reverted to original own­ Huntington, Ore., 542 miles; branch to Ketchum, Ida., 70 m.; Ogden to Moers. V 80, p. 163, 173, 600, 1913. Stock authorized, $4,000,000; out­ Cammon, Ida., I l l m.; Pocatello to Sliver Bow, Mont., 256 m.; Cache Jet.,
Ida., to Preston, Utah, 42 m.; Ogden, Utah, to Sandy, 50 m.; sundry
standing June .30 1909, $653,800; par, $100.
The stockholders voted Dec. 4 1906 to Increase the authorized stock from branches, &c., 426 m.; Butte to Garrison, Mont., 57 m., owned, but oper.
$1,200,000 to $4,000,000, to change the gauge to standard, build extensions, by Nor. Pac.: trackage, 11 m.; total, June 30 1909, 1,565 miles.
On July 7 1903 the portion of the main line from Salt Lake City, Utah, to
&c.; also to Issue not over $4,000,000 of 5% bonds. V. 83, p. 1099.
In year ending June 30 1909, gross, $185,630; net, $20,606. In 1907-08, Callentes, Nev., 340 m., with some branch mileage and additional completed
gross, $192,715; net, $25,468; Int., taxes, &c., $31,075; bal., def., $5,607. road south of Callentes, 512 m. In all, was taken over under purchase by San
Pres., S. L. Mooney; Treas., W. C. Mooney, Woodsfield, O.— (V.83,p .1099.) Pedro Los Angeles & Salt Lake Ry., the Ore. Short Line acquiring a half In­
the San Pedro L. A. &
L. V. 79, p. 1705. V. 76, p. 919, 1356;
OKLAHOMA CENTRAL RR.— Owns Lehigh, Okla., to Chlckasha, 132 terest In
d . 38.
Extension to St. Anthony, 70 miles, was completed Dec. 1907.
m., completed Feb. 1908. On June 5 1908 Asa E. Ramsay was appointed V. 77,June
1909 the Lemhi & .Salmon River Valley R R . was Incorporated
receiver. V. 86, p. 1344, 1410. Of $500,000 receivers’ certfs. authorized, as In
to build extensions, the routes mentioned aggregating about
about $200,000 had been sold In Jan. 1909; probably not over $300,000 535a subsidiary
miles. V. 89, p. 42.
will be Issued. V. 88, p. 158. In Oct. 1908 a majority of the bonds had
H ISTORY.— Successor March 16 1897 of the Oregon Short Line & Utah
been deposited with a committee, F. J. Llsman, chairman (Columbia
Trust Co., N. Y ., depositary). V. 87, p. 1160. In Aug. 1909 the Ada Northern Ry., foreclosed per plan In V. 62, p. 504,505. Controlled by Un.
Terminal RR. was Incorporated to build a 3-mile line to connect with the Pac., which holds nearly the entire oapltal stock and the greater part of the
Oklahoma Central. Stock (par of shares $100), $2,640,000, to be held until Income A and B bonds. V. 75. p. 1032. Acquisitions In 1906, $36,393,­
1910 In voting trust composed of directors. Western Trust & Savings Bank, 432 4H % notes given In part payment maturing In Mch. and Sept. 1907.
Chicago, Is mtge. trustee. See statement, V. 82, p. 752. For year ending V. 84 p. 52, 572, 932. In 1907 acquired $5,685,750 stock and $1,034,000
June 30 1909, gross, $154,538; def. under oper. exp., $37,871. Pres., bonds of Utah Light & Ry., Salt Lake City. V. 83, p. 1171; V. 87, p. 1548-9
Dorset Carter, Lehigh, Okla.; Sec. and Treas., W. G. Walling.— (V. 87, p.
CAPITAL STOCK.— Authorized, $27,460,100, of which Union Pacino
1160; V. 88, p. 158.)
owns $27,350,700; remainder In treasury. V. 68, p. 188,381,474. In 1906
OLD COLONY RR. (MASS.)— Owns road from Boston to Provlncctown- paid 50% dividend. V. 84, p. 52.
Mass., Newport, R. I., &c., 518 miles; leases 101 miles. In June 1907 a
BONDS.—Of the $36,500,000 first consols, $22,029,000 were reserved to
bill was passed permitting purchase of Boston & Providence (leased line). retire at maturity the loans not disturbed. The $4,993,000 Utah &
LEASE.—In 1893 leased to New York New Haven & Hartford for 99 Nor. 7s due July 1 1908 were extended to July 1 1933 at 4% . V. 86, p. 1410.
Series A Incomes, non-cumulatlvc 5 per cents, have received: In Sept.
years. Of the stock, $6,904,300 was on June 30 1909 held by the lessee.
The lease provides for dividends of 7% per annum on stock not exchanged. 1897, 4% ; Sept, yearly since, full 5% , at N. Y. office or Old Col. Tr.. Boston.
Oregon RR. & Navigation stock, viz., $16,281,400 common and $976,900
V. 76. p. 247, 374. Stock auth., $20,000,000. In April 1908 $500,000,
In Feb. 1908 $7,600 and In Feb. 1909 $500,000 stock was sold. V. 86. p. preferred. Is owned and pledged as special security for the SeriesIi incomes.
982, 1101; V. 88. p. 53, 375, 453, 507. In Dec. 1909 $985,000 stock was but dividends thereon are to go to the Short Line company except as needed
sold at about $195 per share, the proceeds to be used In part to pay $1,912,­ to pay to Series B their full Interest. In Oct. 1898 3% and In Oct. 1899 to
000 Boston Clinton Fitchburg & New Bedford 5s maturing Jan. 1 1910. 1909, incl., 4% yearly was paid on Series B. V. 65. p. 572: V. 66. p. 1141.
The Union Pacific owns $4,291,000 and Oregon Short Line $2,564,000 of
This made $20,364,000 outstanding.— (V. 89, p. 1543, 1597.)
Income " A ” bonds and the U. P. $14,804,000 of the $14,841,000
OMAHA & DENVER SHORT LINE RR.— Projected from Omaha, Neb., ’$7,185,000
’
B’’
bonds. V. 70. p. 176.
_
to Denver, Col., about 500 miles.
Incorporated In Colorado In 1906.
The ref. gold guar. 4s (collat. trust) of 1901 (authorized Issue, $100,000,­
Stock authorized. $12,500,000; par of shares, $100.— (V. 83, p. 94.)
000) are subject to call at 10215 since Dec. 1 1907. The bonds were se­
OPELOUSAS GULF & NORTHEASTERN RR.—Projected from Ope­ cured by pledge of the following stocks: $5,000,000 Northern Securities;
lousas, La., northeasterly to a point at or near the Mississippi River, and $18,000,000 pref. and $90,000,000 com. Sou. Pao. and $10,000,000 pref. and
southwesterly from Opelousas to the Gulf of Mexico. Of the line, 57 miles $20,000,000 com. Ore. R R . & Nav. The collateral may be replaced by other
from Melville to Crowley, was opened Oct. 2 1907. Stock authorized, $2,­ of equal value. Of the bonds, $45,000,000 has been sold, the remaining
000,000, of which Tex. & Pac. owns $1,400,000; par of shares, $25. Bonds $55,000,000 being held In Union Pacific treasury. See abstract of mort­
authorized, $20,000 per mile, will be guar, by Tex. & Pac. as Issued. The gage, V. 80, p. 2403. V. 79. p. 2086; V. 80, p. 1913.
$1,143,000 bonds Issued Dec. 31 1908 were all owned by the Tex. & Pac. V.
EARNINGS.— 5 mos.,f 1909.......... Gross, $9,122,957: net, $5,526,046
82, p. 98; V. 83, p. 688: V. 86, p. 792. Pres., C. E. Satterlee; Sec., P. B.
July 1 to Nov. 30. 11908_____ Gross, 7,786,903; net, 4,682,925
Bert, Opelousas. La. N. Y. office, 195 B’ way.— (V. 85, p. 922.)
For year ending June 30 1909, gross, $17,78 1,580, agst. $10,214,042 In
OREGON & CALIFORNIA RR.— (See Map Southern Pac.)— Portland. 1907-08; net, $10,470,884, against $8,641,624.
Ore., to California State line, 367 m.; Albany Jet. to Lebanon, 12 m.; Port­
Financial office, 120 B’way, N. Y. City.— (V. 89, p. 42. 994.)
land to Corvallis, 97 m.; Woodburn to Natron, 93 m.; Portland, Ore., to
Alrlee. Ore., and branch, 81 m.; Mohawk Jet. to Wendllng, 16 m.; Spring­
OREGON & SOUTHEASTERN RR.—To extend from Cottage Grove.
field to Springfield Jet., 1 in.; trackage, 1 in. Total, 666 miles.
Ore., to the Bohemia Mining District, 34 miles, of which Cottage Grove to
LEASE, tec.— Leased to Southern Pacific Co. for 34 years from Aug. 1 Dlsston, 20 m., completed In Oct. 1900; branches, 4 m.; total, 24 m. Ex­
1893, the lessee guaranteeing Int. on the bonds and the lessor receiving any tension from Dlsston to Bonita, 6 m., under construction In Mch. 1909.
net profit and being charged with any deficit after payment of charges. Bet­ Stock authorized, com., $500,000; pref., 7% cum.. $500,000; outstanding,
terments are payable by lessor. Southern Pacific owns all but $38,802 of $400,000 of each: par of shares. $100. Pref. Is subject to call.
Bonds, see table. Prcs.,G.B.Hengen,15 William St.,N. Y .— (V.75,p.l35.)
the $19,000,000 stock, $12,000,000 of which Is 7% pref. V. 72, p. 287.
Due Southern Pacific June 30 190 ), $6,435,864. Litigation, V. 88, p. 376.
OSWEGO & SYRACUSE RR.— Owns from Oswego, N. Y ., to Syracuse,
BONDS.— Land grant acreage unsold June 30 1909, 2,342,131, part be­ N. Y ., 35 miles. Leased In 1869 during length of charter and renewal thereof
ing covered by the mtge., proceeds of land sales going to redeem hond3 to the Delaware Lackawanna & Western R lt. Co. for 9% per year on $1,­
(subject to call at par). The Southern Pacific guaranty of principal and 320,400 stock and Interest on bonds. The $438,000 7% bonds which ma­
Interest Is printed on each of the 5% bonds. See V. 63. p. 754
tured March 1J1907 are held In treasury of D. L. & W .— V. 86. p. 543.




J an., 1910.1

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, <fee., see notes on first page]
Pan-Amcr RR (Mex-GuaO— 1st M (text) red 105-.C*
General mortgage $6,000,000___
.
Pan-American Co collat trust notes redeem at p a r..
Paterson & Hudson Riv— Stock 8% rent N Y L E 4 W
Paterson & Ramapo—Stock (rental guaranty)______
Pemigewasset Valley RR— Stock (rental guaranty)-Pennsylvania RR—Stock $500,000,000__________Tr
Gen M l>ds $1,000 & £200 ea, to be pd July 1910 c&r
Consol mtge of) Gold registered bonds ................. __r
1873 secures Gold coupon b o n d s..................... ._ c
all equally. Gold coupon s f 1% not draw n..c*
G. P.
Sterl (s f In 1900) not drawn ,c*r&-*
_
Gold or sterling__________xc*rocr*
Bonds (P W & B stock as collateral)--------------------r
N Y Phtla & Norf stock tr ctfs___________________
Collateral trust loan gold not drawn. ...................c*
Collateral trust notes (to be paid Mch 15 1910)___
Gold bonds redeemable (text) convertible__ o ’'.c*
do
do
do
do
*&r
Philadelphia & Erie mortgage (now first) go a__ c
do
do
($5,263,000 are 5 s ) - .____ r
Sunb Haz & VVUk first Scries A drawn at 100___ c
Second mortgage Income-----------------------------c&r
Sunb & Lewis llrst mtge $600,000 p & 1g __ GuP.c*
West Chester first mortgage assumed____ _______
West Penn consol mortgage gold assumed..PIP.c*
River Front llrst mortgage assumed-.........................
Southwest Penn 1st M s I $5,000 yearly not drawn.r
Bald Eagle Valley 1st M (s f drawn at 100) ..F P .x r
Junction (Plilla) general mortgage (now first) gold
Pitts Va & Ch first mtge gold guar p & I..G P .c*& r
Equipment trust gold bonds (s f 5%) not drawn, .c*
Penn rolling stocK trust g o ld ------------ ------------------Penn equipment trust gold last Installment_______
do
do
$400,000 paid yearly_____
do
do
$400,000 paid yearly_____
Penn steel car trust gold $700,000 paid yearly___
x On coupon bonds J & J; on registered bonds A&O

Miles Date
Road Bonds
1903
14
14

1909

__
__

974 1867
974 1879
974 1879
974 1893
974 1895
074 1908
_ 1881
_ 1908
_ 1883
_ 1907
_ 1902
_ 1905
407 1869
307 1869
43 1878
43 1878
56 1896
5 1879
138 1888
4.62 1882
131 1877
94 1880
2.96 1900
_ 1904
_ 1889
_ '98-’99
_ 1900
_ 1901
_ 1902
1902
a In eludln

Par
Value

Rate
O
*
/O

When
Payable

Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

$1,000 $2,400,000
5 g J & J Jan 1 1934
See text
1,000
1,600,000
6
A & O Oct 1 1914
50
630.000
8
J & J Jan 1910 4%
g
J
&
298.000
100
541.500
6
F & A Feb 1910 3%
50 398,128,300 6 In 1909 Q— F
$ or £
19,997,820
6
See X July 1 1910
1,000
3,498,000
5g
Q— M Sept 1 1919
1.000
1.500,000
M & S Sept 1 1919
5g
1,000 2.660,000
M & N May 1 1943
4g
£200 4.850,000
3 V, g J & J July 1 1945
$ or £ 39,400,000
4
M & N May 1 1948
1,000
7.435.000
4
J & J July 1 1921
1,000
7.478,250
4
J & D June 1 1948
1,000 9,786,000
4X g J & D June 1 1913
5,000 &c 60.000,000
5
M & S 15 Mch 15 1910
500 &c 10,223.000
3 X g M & N Nov 1 1912
500 &c 86,835,000
3 X g J & D Oct 1 1915
1.000 8.680,000
6 g J & J July 1 1920
1,000 10,419,000 4 g & 5 g A & O July 1 1920
100 &c 86.836,000
5
M & N May 1 1928
100 &c
6
1.349,500
M & N May 1 1938
1,000
500,000
4 g J & J July 1 1936
100 &c
75,000
5
M & S Sept 1919
1,000
4,000.000
4 g J & D Ju'nel 1928
1,000
212,000
M & N May 1 1912
*X
1,000
862,000
7
F & A Feb 1 1917
1,000
284,000
6 cur J & J July 1 1910
1,000
725,000
3H g A & O Apr 1 1930
1,000 6,000,000
M & N Nov 1 1943
4g
1,000
2,546,000
4 g M & S Sept 1 1914
1,000
300,000
3K g Q— ,T April 1910
1,000
200,000
3 X g Q— M Dec 1910
1,000
800,000
3 X e Q— M June 1910 191)
1,000
1,200,000
3 X g Q— M Mch 1910-1912
1,000 2,100,000
3 14
Q— J July 1910-1912
g $354,1 00 bonds he Id alive 1 n sinking fund.

OVCRTON COUNTY RR.— Owns Allgood, Tenn., on Southern R y., to
Livingston, 20 miles; completed March 1006. Extension easterly to Junc­
tion City, Ky., on the Cln. New Orl. & Texas Pac., 76 miles, under construc­
tion. Stock authorized, $250,000, to be Increased to $2,500,000. Bonds,
see table above; trustee, Colonial Trust & Savings Bank, Chicago. V. 81,
p. 727. Car trusts, $18,000. Year ending June 30 1909, gross, $31,524,
against $33,023 In 1907-08; net, $11,447, against $11,087. Pres., Geo. L.
Wilkins, Chicago: Sec. and Treas., E. C. Knight, Livingston, Tcnn.— (V.
83, p. 626; V. 84, p. 103.)
OWENSBORO & NASHVILLE RY.— Owns from Owensboro, K y., to
Adalrvllle, Ky., 84 miles; Mud River branch, 4 miles. Operated by
Louisville & Nashville R R ., which owns the $1,156,525 stock (par, $100)
and the $1,200,000 first mortgage bonds—all these bonds and most of the
stock being pledged under Its trust deeds.
PACIFIC & EASTERN RY.— Owns Medford to 6 miles beyond Eagle
Point, Ore., 17 miles. To be extended 54 miles to Crater Lake; 14 miles to
Butte Falls under construction In Oct. 1909. Acquired the Medford &
Crater Lake R R ., bid In at receiver's sale May 11 1907. Stock authorized,
$1,000,000; outstanding, $500,000; par, $100. Bonds (Knickerbocker
Trust Co., N. Y ., trustee) are subject to call after Juno 1917 at 105; out­
standing Sept. 1909. $300,000, $340,000 additional being offered. V. 84,
p. 1552; V. 88, p. 1621. Pres., John R . Allen, 49 Wall St., N. Y.; V.-I\,
J. F. Reddy, Medford, Ore.; Sec. and Treas., G. P. Humphrey, N. Y.— (V
88, p. 1621; V. 89, p. 847.)
PAN-AA1ERICAN RR. (MEXICO-GUATEM A LA).— Prelected from San
Gcronlmo, Mex., on the National Tehuantepec R R ., southeasterly to the
Guatemala border, about 300 miles, with connections to the City of Guate­
mala, of which 225 miles operated In March 1908; balance was under con­
struction. In Sept. 1909 David E. Thompson, then U. S. Ambassa­
dor to Mexico, acquired control. V. 89, p. 721. Mex. Gov’t subsidy about
510,000 gold per mile. Stock, $10,000,000, of which $9,600,000, together
with $3,600,000 gen. mtge. bonds Is owned by the Pan-American Company
and deposited under Its collateral trust 6% bonds (see table above). Re­
maining $2,400,000 gen. mtge. bonds, are reserved to retire the outstanding
first mtge. bonds. V. 90, p. 237. The llrst 5s of 1903 are limited to
$12,000 per mile of main track, but by supplemental mtge. to $8,000 per
mile until the net earnings are double the Interest charge on the entire auth­
orized amount. In 1906 $1,000,000 bonds were sold. Pres., David E.
Thompson; V.-P. and Gen. Mgr., E. M. Wise; Treas., Ira Briscoe; Sec.,
Louis D'Antln.— (V. 90, p. 237.)
PATERSON & HUDSON RIVER.— Owns from Marlon, Jersey City,
N. J. (south of Bergen Junction), to Paterson, N. J., 14 miles; double track.
Leased In perpetuity at $48,400 per year for road, $5,000 for land In Jersey
City and taxes, to Erie RR., forming part of main line.
PATERSON & RAMAPO RR.— Owns from Paterson, N. J., to New York
State Line, 14 miles, double track, part of main line of Erie R R ., to which
leased Sept. 1852 during legal existence, at $26,500.
PEMIGEWASSET VALLEY RR.— Plymouth, N. H., to Lincoln, N. H.,23 m. Leased to Concord & Mont, for 6% on stock: op. by Bos. & Maine.
PENNSYLVANIA RR.— {See M aps.)— The system, as shown on the
adjoining maps, extends from New York City westerly, via Philadelphia,
to Pittsburgh, Erie, Cleveland. Toledo, Chicago and Burlington on the
north and to Washington, Cincinnati, Louisville & St. Louis on the south.
The total system on Jan. 1 1909 aggregated 11,293 miles, of which 3,862
miles represents the mileage operated directly under the caption "the lines
east of Pittsburgh and Erie,” and 2,914 the mileage operated directly under
the caption “ the lines west of Pittsburgh and Erie,” the latter being more
fully described under the title Pennsylvania Company and Pittsburgh Cin­
cinnati Chicago & St. Louis. The other lines are operated Independently.
East of Pittsburgh and Eric.
Miles.
Main Line and Branches— Miles Trackage___________ _____ —
268
Philadelphia to Columbia, Pa
81
REPORTED SEPARATELY—
Phlla.,Pa.,to New Bos. ,Jct.,&c’ 293 Phlla. Balt. & Washington___ 710
Harrisburg, Pa., to PIttsb., Pa. 245 Northern Central R y *------------ 447
Erie, Pa., to Sunbury, &c__
307 West Jersey & Seashore R R .* .. 339
Branches and spurs_________ I 895 Cumberland Valley R R .*------- 163
Long Island*_________________ 392
Total main line & branches..1,821 Balt. Ches. & Atlantic R y_____
88
Lines oper. by lease or contract—
Maryland Delaware & Virginia.
78
Har. Ports. Mt.Joy. & Lan. RR.*
Rosslyn Connecting.................
2
DHlersvIUe to HarrIsb.,Pa.,&c. 53 Philadelphia & Camden F erry..
1
United New Jersey RR.,* Tren­
ton to Jersey City, &c______ 149
Grand total east of P. & E— 6,348
Philadelphia & Trenton R R .* ..
26
West of Pittsburgh and Erie.
Allegheny Valley R y .*............... 264
REPORTED DIRECTLY—
Western New York & Penn.*.. 554 Pitts. Cln. Chic. & St. Louis*..1,569
Connecting Railway*.................
37 Pennsylvania Company lines*.. 1,345
Lines operated under contract—•
Cambria & Clearllcld R R .*----- 393
Total reported directly .2 ,9 1 4
Belvlderc Delaware RR.* ------81
REPORTED SEPARATELY__
Phlla. & Long Branch RR . . . .
49 Grand Rapids & Indiana lines*. 575
Delaware River RR. & Bridge*
10 Vandalla RR.* _ .
023
Other lines (Incl. D. & R. Canal
Other lines (see Pennsylvania
66 in., and ferries, 2 m .)------ 467
Company statement)
537
Total In Penn. RR. statistics.3,862
Total system Jan. 1 1909
11,297
•See each company's statement
In Dec. 1909 plans were llled for a new electric branch from Newark to
Harrison, N. J. V. 89, p. 1484.
ORGANIZATION, LEASES. &c.—The charter of the Pennsylvania RR.
was dated April 13 1846. The Pennsylvania Company controls all the lines
west of Pittsburgh and Erie, the Pennsylvania RR. Co. holding all Its stock.
In 1900 acquired most of stock and Income bonds of Western New York &
Pennsylvania. V. 72, p. 481.
The Western New York & Pennsylvania Ry. and the Allegheny Valley
Ry. were taken over underlease InJPlOOO. InlMayllOOOJpurchascd a




Amount
Outstanding

107

Amer Tr & Sav Bk. Chic
Amer Tr & Sav Bk, Chic
Paterson, N J
do
Treas Off, Concord. N H
Office. Philadelphia
Office, Phlla and London
Office, Philadelphia
do
do
Farmers’ L & Tr Co. N Y
London, England
Penn Co for Ins, &c, Phil
Provident L & T Co, Phil
Office, Phlla & London
Amer Ex Bk, NY; & Phil
Am Ex Bk, NY. Phil, &c
Broad St Sta and London
Broad St Station, Phlla
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Fidelity Trust Co, Phlla
Broad St Station, Phlla
New York& Philadelphia
Girard Trust Co, Phlla
do
do
Commercial Tr Co, Phlla
do
do
do
do
do
do

majority of Long Inland RR. stock. V. 72, p. 481
Western Pennsylvania
and other roads connecting with the main line were merged April 1 1903,
the Pittsburgh Virginia & Charleston in 1905 and the Philadelphia & Erie
May 1 1907. V. 76, p. 486, 594; V. 80, p. 1112; V. 84, p. 1183. The
stockholders voted March 13 1906 to purchase the Allegheny Valley Ry.,
tiouth West Pennsylvania Ry. and York Haven & Row. R R . and on March
10 1908 to purchase the Southwest Connecting R y., Junction R R . and Bald
Eagle Valley RR. V. 82. p. 453, 629; V. 84, p. 626; V. 86, p. 422.
In Jan. 1909 $2,492,750 of the New York Philadelphia & Norfolk $2,500,­
000 stock had accepted the offer to buy the stock with 4% 40-year trust cer­
tificates, guaranteed principal and Interest by Pennsylvania R R ., on the
basis of $3,000 ctfs. for $1,000 stock. V. 86, p. 1590; V. 88, p. 631.
SECURITIES OWNED.— The total cost of these to Jan. 1 1909 was
$232,094,794; many of which are pledged to secure Pennsylvania Issues.
Revenue derived from these securities In 1908, $11,287,744.
DIVS. ’89. ’90. ’91. '92. '93 to’99. '00-May'06. Nov. '06. '07. '08. 1909.
P .C .. 5 5H 6
6 5 yearly.
6 yearly.
3X
7
6
6
In 1893 paid also 2% In scrip.
Beginning 1910 dividends will be paid quarterly. V. 89, p. 1224.
STOCK.— The stockholders March 10 1903 authorized an Increase In
stock from $251,700,000 to $400,000,000, to be made from time to time In
the discretion of the directors. Of the stock, $20,980,350 was Issued April
1903 In exchange for convertible debentures. (See below.) In 1903 sold
$75,094,750 new stock at $60 per $50 share. V. 76, p. 383, 488, 594, 706,
1193; V. 77. p. 37, 770.
Stockholders on March 12 1907 authorized Increase of the stock and
bonds by $100,000,000 each, to be Issued from time to time as required,
$60,000,000 collateral trust 5% gold notes dated March 15 1907 forming
part of the $100,000,000 bonds and the $40,000,000 4s sold April 1908
the remainder. V. 84, p. 103, 626; V. 86, p. 1013. Stockholders were
offered the right to subscribe between Dec. 8 and 18 1909 pro rata to the
extent of 25% In new stock ($82,517,800) at par, payable In full within that
time or 30% between Dec. 8 and 18 1909, 30% between Feb. 23 and March 1
1910 and 40% between May 26 and June 1 1910, the proceeds to provide for
the $60,000,000 5% cotes maturing March 15 1910 and $20,000,000 general
6s maturing July 1 1910. V. 89, p. 1224, 1281, 1348.
BONDS.—Consolidated mortgage of 1873, see “ Supplement” of Oct. 1901.
In April 1908 $40,000,000 4% consols were sold. V. 86, p. 1043, 1101.
In 1902 were Issued $50,000,000 10-year 3 X % gold bonds, dated Nov. 1
1902, of which $37,642,500 had been converted In Nov. 1909 Into stock at
$70 per share and balance Is convertible at holders' option at $70 per share
at any time; they may be called for payment at 102 'A on any int. day, but
If called converted on basis stated. See V. 74, p. 577; V. 87, p. 1421.
In 1905 stockholders subscribed at par for part of $100,000,000 of 3
gold bonds, the balance being taken by a syndicate. The bonds are (since
Dec. 1 1905) convertible at option of holder at any time Into stock at $75
per $50 share unless previously called for redemption on Dec. 1 1910, or
at any subsequent Interest period on 90 days’ notice, at par and Interest; but
when so called they may be converted up to 30 days prior to the date named
In said notice for redemption. A part of the proceeds was used to retire the
$27,480,000 6% bonds maturing June and July 1905; balance for Improve­
ments. See V. 80, p. 1112, 1236, 1913; V. 81. p. 1437.
As to new bonds authorized In 1907 and 1908, see STOCK above.
GENERAL FINANCES.— In 1901 obtained control of the Pennsylvania
and Cambria Steel cos. See "Industrial cos." and V .72.p.1280; V.82,p.805.
In first half of 1910 the company expects to open Its passenger electric
tunnel railroad from Jersey City under the North River to a central passenger
station at 33d St. and 7th Avc., New York City, and thence under the East
River to a connection with the Long Island RR. In Long Island City,
under the name of Pennsylvania Tunnel & Terminal RR.
The tunnel will afford entrance into New York City for the Penn­
sylvania Railroad and the Long Island Railroad, permitting through
trains by rail direct from the South and West to all points In New England
via the bridge from Mott Haven'to Long Island, which Is to be built by the
New York Connecting RR .: see V. 71, p. 913: V. 72, p. 1280; V. 73, p.
1264; V. 74. p. 380, 478, 831, 884, 1308: V. 75. p. 1203, 1302, 1355; V.
82, p. 1269; V. 84, p. 340. 1552; V. 86. p. 608; V. 87, p. 813, 1238; V.
88. p. 631; V. 89, p. 666, 919.
The $60,000,000 3-year 5 % notes, dated March 15 1907, are to be paid
off Mch. 15 1910. They are secured by deposit of $45,000,000 Penn. R R .
4%, equipment certs., $10,000,000 water-supply 4% trust certs, and
$8,800,000 Penn. Co. stock. V. 84, p. 451, 571.
in June 1906 the Issue of $50,000,000 (250,000,000 francs) French loan
(Penn. Co. guar. 3 %% bonds) was sold to pay part of cost ($42,000,000)
of equipment and completion of the water-supply system.
In April 1908 $40,000,000 4% consols were sold to provide for completion
of New York terminals and other construction work. V. 86, p. 1043, 1101:
V. 88, p. 631. In May 1909 $8,100,000 4% general freight equip, trust
ctfs. were sold. V. 88, p. 1254. In Nov. 1909 ordered 10,000 freight
cars. V. 89, i). 1348.
On Dec. 31 1908 the Pennsylvania Company held (V. 86, p. 1281) the
subjoined amounts of the following Issues (compare table above), received
In whole or In part In connection with aforesaid French Issue.
Pa.Steel Roll. S tk .T r.4% .$1,500,000 Penn. Gen. Frt. Eq. Tr.
Pa. Steel Freight Car Tr
4% '07. $100,000.000.$14.200,000
4% g o ld ......................... 5,300,000 Pennsylvania RR. Water
Pa.Steel
E q.Im p.T r.4%
______________
___ .. 7,000,000
.
Supply Trust 4 % ......... 7,000,000
As to $100,000,000 equip, trust auth. In 1907, see V. 84, p. 231. 340.
In Sept. 1906 about half of the company’s holdings In Baltimore & Ohio
(sec that company) and Norfolk & Western stock were sold, realizing about
$50,000,000, the N. & W. sold stock (about $16,000,000) being repurchased
In April 1909; also in Dec. 1906 $15,630,000 Ches. & Ohio stock. V. 83,
p. 562, 1412: V. 85. n. 655.
In Nov. 1906 the dividend rate was Increased from 6% to 7% , but In
May 1908 again reduced to 6% . On Feb. 1 1908 passenger rates were re­
stored to old basis, the 2-cent law In Pennsylvania having been declared
unconstitutional. V. 86, p. 230, 286.
Increase In stock and bonds auth. 1907 and 1909, see "Stock” above. ;

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Amherstburgh

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[G uyaudolte

110

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
{For abbreviations, A c., see notes on first page]
Pennsylvania RR— (Concluded) —
Penn steel car trust gold $300,000 paid yearly.........
Penn steel equipment trust gold $500,000 paid yrly.
do
do
do
$500,000 paid yrly.
do
rolling stock trust gold $500,000 pd yrly
do
do
do
$200,000 pd yrly
do
do
do
$300,000 pd yrly
Pennsylvania Steel freight car trust.....................
do
do
do
_______________
Pennsylvania Steel equipment Improvement trust-Pennsylvania general freight equipment trust...
Delaware Avenue Bloodgood property___________
Penn RR real estate purch money gold M ..F .c*& r
Pennsylvania Company— Bonds gold guar.........c*«5cr
Guar tr certs $20,000,000 g gu Pa R R Ser A ...........r
do
do
do
do S erB .G P .c*.
do
do
do
do Ser C _____ c*
do
do
do
do Ser D ------GP
Gold loan $1.334,000 drawn yrly g gu Pa R R . . . GP
Gold loan red after 15 yrs (guar V 83 p 1229) .GP.c*
French loan 250,000,000 fr guar red from 1918..G P
Penn JVlonongahela & Sou— 1st M $1,000,000 g------GP
Pennsylvania & North Western— See Cambria & Clear
Peoria & Bureau Valley— Stock rental (see text)------Peoria & Eastern— Ind Bloom & W 1st M pf-.C e.c& r
Ohio Indiana & West 1st M pref gold lnt guar. Ce.c*
Peo & E 1st (cons) M $10,000,000 lnt guar------Ce.c*
Income mortgage non-cumulatlve...................... Ce.c
Peoria & Pekin Union— First mortgage gold------- Ce.c
Second mortgage gold........................................... Ce.c
Peoria Ry Term— First M gu g red 102 beg 1917. IC.c*
Second mortgage.........................— ............................
Pere Marquette—Common stock.....................................
First pref (also as to assets) 4% cum after 3 M years
Second preferred 4% non-cumulatlve--------------------Outstanding stock of constituent companies______
Refund M $60,000,000 g ..............................Ce.xc*&r
Debentures $5.000,000................................................
Chic & West Mich 1st M ..............
NB.c*
In June 1903 allied Interests purchased $6,924,200 of the $11,000,000
Hocking Valley R y. com. stock; see that company, V. 77, d . 1225.
LATEST EARNINGS.— Janjl to Nov. 30 (11 mos.), directly operated:
Lines east of Pittsburgh) 1909..........Gross, $139,689,873; net, $42,182,502
and E r ie ----------------J1908--------- Gross, 124,033,073; net, 35,599,602
Lines west of P. & E ,,inc. or dec.Gross,Inc., $12,680,800; net, inc.,$4,656,600
ANNUAL REPO RT.— Fiscal year ends Dec. 31. Annual meeting Is
held at Philadelphia on second Tuesday In March. The report for 1008 was
given In V. 88, p. 622, 630; see also editorial, p. 598.
EARNINGS OF ALL LINES BOTH EAST & WEST OF PITTS. & ERIE.
Year ending Dec. 31—
1908.
1907.
Gross earnings.......................................................$276,338,804 $326,785,526
Net earnings (over taxes)....................................... 70,733,268
78,169,566
For year ending June 30 1909, gross, $142,416,640, agst. $149,691,929
in 1907-08; net, $33,475,588; other Income, $14,290,249; lnt., rentals of
leased roads, &c., $18,910,447; sink, fund, prln. of car trusts and extra­
ordinary, $8,901,078; divs. (6% ). $18,876,075; bal., sur., 51,078,236.
V. 89, p. 1543.
REPORT OF .PENNSYLVANIA RAILROAD COMPANY.
Year ending Dec 31—
1908.
1907.
1906.
3,862
3,858
3.820
Miles operated_____________________
Gross earnings.....................................$136,296,871$164,812,825$148,239,882
Net earnings (over taxes)................... 34,895,878 41,226,313 42,719,204
lnt. on Pa. RR. Investments............. 11,287,744 10,440,955 11,741,184
lnt. on United N. J. securities______
213,603
234,472
346,109
lnt. for use of equipment__________
301,576
718,118
395,041
Interest general account----------------- 2,143,439
2,095,112
General lnt and miscellaneous...........
248,717
195,770
62,620
R ents.........................................
193,623
109,680
239,299
.$49,284,580 $55,020,420 $55,503,466
. $6,437,357 $9,126,234 $10,929,250
. 12,620,296 10,412,488
7,387,652
lnt. on mtgs. and ground rents.. ..
14,030
7,955
11,805
Car trust payments_____________ . 5,601,693
4,782,686
4,979,147
Equipment trust loan sink. fu n d ...
79,797
101,937
68,400
General lnt. and miscellaneous____.
123,013
164,758
698,950

LVOL. L X X X X .
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable
Oct 1910-1012
Deo 1910-1912
Mch 1910-1013
May 1910-1013
Aug 1910-1913
May 1010-1015
Sept 1010-1915
June 1910-1916
Jan 1911-1916
To Nov. 1917
Sept 1 1912
May 11923
July 1 1921
Sept 1 1037
Feb 1 1941
Dec 11942
Deo 1 1044
Nov 1 1916
Apr 1 1031
June 15 1021
Jan l 1048
Feb
Apr
Apr
Apr
Apr
Feb
Feb
Jan

4g
6
5

J
J
J

Commercial Tr Co. Phlla
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Fidelity Trust Co, Phlla
Philadelphia
Farmers’ L & Tr Co, N Y
National City Bank, N Y
Union Tr, N Y; & Phlla
lAmer Ex Bk, N Y, &J
/Girard Trust Co, Phlla\
Phlla, Pa, and New York
NewYork & Philadelphia
Girard Tr Co. Phtla&N Y
Cred Lyon, &c, Paris, Fr
Philadelphia, Pa

10 1910 4% Chic R I & Pao Ry. N Y
11040
J P Morgan 4 Co, N Y
1 1938
do
do
1 1940
do
do
1 1990
4% paid April 1 1908
1 1921
Central Trust Co, N Y
1 1921
do
do
1 1937
New York
2007

& J Jan 1 1955
& J July 1 1912
& D Dec 1 1921

J P Morgan & Co, N Y
<o
do
J P Morgan & Co. N Y

& Chic. R y. Co. Of the $20,000,000 In series A , B and C, the sinking fund
had retired $1,526,000 to Dec. 31 1909. See V. 65, p. 368, 572, 1116­
V. 67, p. 122; V. 72, p. 339, 490; V. 79, p. 2457.
The 3 H % gold loan of 1901 was Issued to pay for acquisitions of stocks of
the Pennsylvania and Cambria Steel companies. They are guar., p. and 1.,
by Penna. R R ., and are subject to call for redemption Nov. 1 annually
by
at Par In 15 equal drawings. V. 73, p. 843, 957. Collateral June
30 1909 consisted of $16,800,850 par value of stock Issues.
The $20,000,000 gold loan 4s of 1906, guaranteed, were at June 30 1909
secured by deposit of $12,500,000 Pitts. Cln. Chic. & St. Louis common and
$2,250,000 pref. stock, $4,000,000 Vandalla RR. stock, $3,660,100 West
Jersey & Sea Shore common stock, $1,416,500 Cleve. & Pitts, betterment
stock and $3,226,800 of other stocks and bonds of railroads of system; total
par value of collateral, $27,053,400. V. 82. p. 335; V. 83, p ' 1229. Car
trusts June 30 1909, $8,206,986.
The 250.000,000 French franc 3 H % guaranteed loan of 1906 Is payable,
p. & 1.. In francs. Denomination 500 and 2.500 francs. V. 82. p. 1439.
EARNINGS.— 5 mos., J1909_____ Gross, $23,753,539; net, $10,049,959
July 1 to Nov. 30.
\1908_____ Gross, 18,469,368; net,
7,698,988
REPORT.— Report for year 1908 In V. 88, p. 1310, showed gross earn­
ings, $39,423,796; net, $10,407,912; other Income, $11,424,571; Interest,
rentals, &c., $12,752,473; loan ctfs. redeemed, sink, fund, &c., $1,945,295;
dividend (7% ), $4,200,000; extraordinary exp. fund, $2,500,000; bal.. sur.,
$434,715.— (V. 88, p. 1310; V. 89, p. 847, 1668; V. 90, p. 237.
PENNSYLVANIA MONONGAHELA & SOUTHERN R R — Owns from
west bank of Monongahela River, about 4/$ miles southwest of West
Brownsville Station, Pa., along west side of Monongahela River, to mouth
of Little Whltely Creek. 18 miles. Stock, $553,000, all owned by Penn­
sylvania R R . Bonds, see table above.— (V. 86, p. 982.)
PEORIA & BUREAU VALLEY RR.— Peoria to Bureau Jet., 111., 47
miles. Leased In 1854 to Chicago Rock Island & Pacltlc Ry for $125,000
yearly; dividends, usually 8% yearly, occasionally more; Feb. 1908, 1 %
extra.— (V. 86, p. 169.)

PEORIA & EASTERN RY.— {See Maps N. Y.Cent. A Hudson River RR.)
— Owns from Pekin, 111., to Indianapolis, Ind., 202 m., and has a lien of $5.­
000,000 on Springfield Division, Indianapolis to Springfield, Ohio, 141 m.;
trackage. Pekin to Peoria, 9 m.; total operated, 352 miles.
.$24,876,186 $24,596,058 $24,075,204
LEASE, <Sec.— Formerly Ohio Indiana & Western, sold In foreclosure In
.$24,408,394 $30,424,362 $31,428,261 1890, reorganized per V. 49, p. 616. Leased till April 1 1940 to Clev. Cln.
.
$197,321
$270,302
$225,056 Chic. & St. L., which guarantees Interest, but not principal, of the 1st con­
137,280
Consol, mortgage sink, fund, &c------.
133,550
131,170 sols and the underlying bonds, and owns one-half of the $10,000,000 stock,
Extraordinary expenses------- ----------. 3,538,981
3,260,651
8,701,475 par, $100. See "Supp.” of Jan. 1894 as to provisions respecting any surplus
D ividen ds______________
-. 18,875,680 21,908,435 19,869,661 over charges. Company owns $125,000 stock of the Peo. & Pekin Union
7%
-.
Per cent....... ................
6%
o y$%
R y., on which 6% yearly was paid 1895-1902 and 5% In 1905. V. 74, p. 152.
do
do per cent.....................— .
6%
7%
6H %
BONDS.— Sec abstracts of mtges. of 1890 In V. 51, p. 246, and of Ohio
Extraordinary expense fund...............
2,500,000
2,500,000 Ind.
...............
& West, mtge., V. 47, p. 201.
INCOMES.— Dividend on Incomes, 4% yearly, paid April 1 1902 to 1908,
$22,749,263 $28,072,938 $31,428,261
both Inclusive. 1909, none. V. 88, p. 565.
. $1,659,131 $2,351,424
$24,254,800 $24,725,484 $24,725,484
EARNINGS.— 11 mos., (1909_________ Gross, $2,743,444; net, $811,567
Jan. 1 to Nov. 30.
(1908________ Gross, 2,480,095; net, 664,679
OFFICERS.— Pres., James McCrea; 1st V .-P ., Charles E. Pugh; 2d V .-P.,
Samuel Rea; 3d V.-P., J. B. Thayer Jr.; 4th V .-P., Henry Tatnall; 5th
REPORT for 1908 was In V. 88, p. 767.
V.-P. and Gen. Mgr., W. W. Atterbury; Treas., J. F. Fahnestock; Sec., Cal. Year—
Gross.
Net.
Other inc. * Charges.
Balance.
Lewis Nellson. New York office, 85 Cedar St.
1908 ..............$2,764,463
$521,445
$3,329
$560,247 def.$35,472
Directors— Perclval Roberts Jr., N. Parker Shortrldge, Rudulph Ellis, 1907 ________ 3,010,347
705,310
15,102
713,067 sur. 7,345
Charles E. Ingcrsoll, Clement A. Grlscom, Henry C. Frick, William H.
•Includes $160,000 (4%) lnt. on Incomes In 1907.— (V. 88, p. 296, 565.)
Barnes, Geo. Wood, C. Stuart Patterson, Effingham B. Morris. Thomas
DeWltt Cuyler, Jas. McCrea, Lincoln Godfrey, John P. Grcon, Charles E.
PEORIA & PEKIN UNION RY.— Owns Pekin to Peoria, on both sides
Pugh, Samuel Rea, John B. Thayer.— (V. 89, p. 1412, 1484, 1543, 1668.)
of Illinois River, and yards at and opposite Peoria. Mileage main track.
18.14; second main track, 8.80; total-main track, 26.04 miles. Mileage of
PENNSYLVANIA COMPANY.— {See Maps Pennsylvania RR.)— Oper­ side and yard tracks, 67.38. Capital stock, $1,000,000. Owned by Peoria
ates all the Pennsylvania Railroad lines west of Pitts. Owns none In fee.
& East. (Clev. Cln. Chic. & St. L. system), Chic. & North Western, Chic.
Leased by transfer from Pa. RR.:
Controlled by stock, A c.;
Miles Peo. & St. L., 111. Central system. Lake Erie & Western and Tol. Peo. &
Miles. Pitts. Cln. Chic. & St. L - - . * l , 414.92 West comoanles. Dividends 1895-1902, 8% per annum: 1903, 4% ; 1905.
Cln.
&
Muskingum
Valley___*148.46
Plttsb. Ft. W. & Chicago----- *470.53
5% . Earnings for year ending June 30 1908, gross, $1,042,415; net, $291,­
Massillon & Cleveland______ 12.23 Waynesburg & Washington. 28.16 580; lnt. and taxes, $224,163. Pres., H. K. Pinkney.— (V. 85, p. 577.)
Erie & Pittsburgh--------------- *82.97 Cln. Leb. & Northern......................... 45.44
PEORIA RAILW AY TERMINAL CO.— Owns terminal road between
Cleveland & Pittsburgh.........*205.67 Grand Rfrnlds & Indiana___ 425.70
Peoria and Pekin, III., 8 miles, over private right of way, and local lines;
Musk. Or. Rap. & I n d ___________ 36.85
Leased directly by Pa. Co.;
miles of track. 70-lb. rails. Has rights over 5 miles
Traverse City R R . . . ......... 26.00 total, 21 miles; 29
Pitts. Youngs. & Ashta. R y .*137.54
Cln. Rich. & Fort Wayne. *85.83 of local street railway in Peoria, with privilege of transferring over 46 miles
Toledo Wal. Val. & Ohio___ *231.29
Vandalla R R ...............
*657.48 additional. Freight and through passenger business handled by steam.
Controlled by stock or otherwise;
Cleveland & Marietta............. *103.68 Terre Haute & Peoria R R ____ 145.12 Local passenger business In and between Peoria, Pekin and Crescent by
Pitts. Ohio Val. & Cine......... 15.09 Cleve. Akron & Columbus____ 193.47 electricity. Has union depots In both Peoria and Pekin. Owns a 1,000-ft.
steel drawbridge over the Illinois River. Franchise perpetual. Successor
Marginal R R ., Beav. F., Pa.
3.53 Wheeling Terminal R y ........................ 9.65
South Chic. & Southern......... 22.89 Louisville Bridge----------------2.46 to Peoria & Pekin Terminal R y.. foreclosed Feb. 9 1907. Stock, $1,000,000.
all owned by Chicago R. I. & Pac. and Chicago^ Alton, which guarantee
Controlled jointly;
Branches W .N .Y .& P a. R y .. 51.52
Youngstown & Ravenna-----2.28 Central Indiana------------------- *117.58 the 1st M. bonds, prln. and lnt. Form, V. 85, p. 161. In Nov. 1909
Pitts. Chartlers & Yough--------*19.69 holders of Income bonds were requested to communicate with F. J. Usman
Tol. Peoria & Western........... *230.70 & Co., V. 89, p. 1281. For year ending June 30 1909, gross, $158,049;
Total Penna. Co. lin e s... 1,342.22 Trackage____________
169.81 oper. Income (after taxes), $1,863; lnt. charges, $46,174; bal., def., $44,311.
Pres., W. ,T. Irwin; Treas., Fred. H. Smith.— (V. 89, p. 1281.)
• See this company.
Total of all lines.................5,109.51
PERE AlARQUETTE RR.— The road Includes:
M iles.
ORGANIZATION.— Chartered In Penna. April 7 1870. Its $60,000,000
Lines owned—
Maes.
Trackage—
stock Is owned by the Pennsylvania Railroad. On June 30 ’09 the Penn. Co. Alexis (near Toledo) to Ludlngton, on Lake Michigan________ 387 St. Thomas, Ont., to Internat’l
owned sundry stocks and bonds having value per balance sheet of $172,­
Bridge and Niagara, N. Y _____ 132
714,598; and yielding June 30 1909 Income of $10,994,375. V. 84, p. 928. Plymouth to Bay View, M lch...412
Porter. Ind., to Gr. Rap., M ich..138 Other trackage................................114
DIVS.— 1 ’93. ’ 94. ’95-’00. ’01. '02. ’03. ’04. ’05. ’06. ’07. ’08. 1909.
Saginaw to Port Huron...................90
Controlled—
P e r c e n t .../ 4
4 None.
3 3 4 5 5 6 7 7
8
Pt. Huron to Grindstone City___ 126 Lake Erlo & Det. RIv................... 199
BONDS.— The gold bonds of 1921 are secured by leases of P. Ft. W. & Grand Ledge to Big Rapids______142 London & Port Stanley............... 24
O., the Cleve. & Plttsb. and Erie & Plttsb. railroads and of bonds and Allegan to Pentwater..................... 127 La Cross to Mich. State Line_____ 34
stocks having a par value In 1908 of $25,030,600, as well as real estate.
Sarnia to Rondeau......................... 72
Guaranteed trust certificates, " A ,” " B ,” “ C” and " D ” were Issued by Other lines, branches, &c_______ 372
Total.......... .............................. 2.369
Girard Trust Co.. Philadelphia, as trustee, under a deed of trust made by
Operates
car ferries Ludlngton
.
_____ „ ___ to
.. Milwaukee and Manitowoc. Of the
the Penn. Co. and the Penn. R R . Co., whereby the Penn. Co. has
2,369 miles, 34 miles, Lawton, Mich., to South Haven, are leased to the
an equal amount at par of the 7% guar, special stock of the Plttsb
Kalamazoo Lake Shore & Chicago R y. for 25 years from April 15 1907.




Jan ., 1910. J

Miles Date
Road Bonds

RAILROAD COMPANIES
[For abbreviations, A c., see notes on first page]
Pere Marauctte (Concluded) — Underlying'Bonds—
Dot G It & W 1st cons (now 1st) M law money.OB.c*
Flint & Pere Marq mtge ($1,000,000 are 4s) g old -.c
First consolidated mortgage gold__________ Ce.c*
Pt Huron Dlv first mtge ($3,500,000) g ___ Ce.c*
Toledo Division first mortgage g o ld .-.........IB.c*
Ch & N M 1st M gu p & 1end by Ch & W M-.OB.c*
Equipment notes due $650,000 yearly__________ FC
Pere Marquette consol M $50,000,000 auth.F.c&r
Lake Erie * Detroit Rlv Dlv coll tr M g old ___ G

373
286
404
238
19
89
199

66
Saginaw Tus & Huron first mtge assumed______N
28
Grand Rapids Deldlng & Sag 1st M assumed_____
Pere Marquette of Indiana call 105 assumed__ K.c* Text
RWInthrop&Co eq notes g$76,000 due s-a(V79pl642
Marquette equip first mtge guar call at par------------Am Car & Fdry Co equip notes $40,000 due seml-an
L E & D R equip bonds $8,000 semi-annually.. —
Perklomen— 1st M Ser 1 (1st loan) g g u p « l.-P cP .c*
First M Ser 2 (2d loan) g guar p & 1 (end) — PeP.c*
Peterborough RR— Stock (rental 4%) — . . . -----------Petersburg RR—See Atlantic Coast Line RR
Phila & Balt Cent— 1st M $2,500,000 ($1,200,000 4 Hs)
P W & B (old Co) plain bonds. . 1
l - .r
Plain b o n d s .............................1 All secured |..r
Plain b o n d s.............................) by 1903
L .r
Plain bonds gold ................ . . I mortgage. |..r
Plain bonds g o ld ----------------- J
) - .r
Balt & Potomac 1st M (tun) gold s f not drawn._xc*
First mtge road guar gold sink fd not drawn..xc*
First mortgage $20,000,000 gold---------------- G c*&r
Plain bonds gold due $500,000 yearly__________ c*
Phila & d ie s V— 1st M pref old 5s red ’ 96 gold. PeP.c*
First mtge old 4s not pref Int reduced In ’ 96 g . PeP.c*

__
38.3
38.3
__

Par
Value

Amount
Outstanding

Rale
%

When
Payable

4
A &
1897 $500 &c $5,379,000
5,000,000 4 g & 6 g A &
1,000
1880
1,000 2,850,000
M &
1889
5g
1,000 3,325,000
1889
5g A &
400,000
1,000
1897
5g J &
1,667,000
1,000
5
M &
1891
1,950,000
1,000
6
M &
1908
4g J &
1901 1,000 &c 8,382,000
1,000 3,000,000
1903
4H g F &
2,870,000
1903
4g J &
1,000
1,000,000
1900
4g F &
260,000
1,000
1899
5g M &
1,000
675,000
M &
1903
4g
4 y2
446.833
1905
1,000
760,000
1004
4H g A &
1.000
5
89,000
1900
A &
3,074,714
1907-8
360,000
1908
6
A &
24,000
5
1904
M &
100 &c
799,600
1888
5g
O— j
1,000
1,125,000
1888
5g
y —j
____
385,000
100
4
A &

Last Dividend Places Where Interest and
Dividends are Payable
and Maturity

o Apr 11946
o Oct 11920
N May 1 1939
l) Apr 1 1939
J July 1 1937
N May 1 1931
S Mch 1 ’ 10-’ 12
J Jan 1 1951
A Aug 11932
J Jan 11923
A Aug 1 1931
S Mch 1 1924
N May 1 1943
April 1 1916
6 Apr ’ 10-Oct ’ 14
o Oct 1 1910

Second Nat Bank, Bost
J P Morgan & Co, N Y
Central Trust Co, N Y
J P Morgan & Co, N Y
International T rC o, Bost
Second Nat Bank. Bost
J P Morgan & Co, N Y
do
do
do
do
Peoples’ State Bk.. Det't
J P Morgan & Co, N Y
International Tr Co, Bost
J P Morgan & Co, N Y

o To Oct 1 1914

Bankers’ Tr Co, New Y ’k
Detroit Tr Co, Detroit
Reading Terminal, Phlla
do
do
Nashua, New Hampshire

s To Mch 1 1911
Jan 1 1918
Jan 1 1918
o Oct 1909 2%

1,000
2,200,000 4H & 5 M & N Nov 11911
74 1881
___
50 25,138,000 4 111 1909 J & D Dec 31 1909 2%
1,000
1,000,000
1880
5
J & 1) June 1 1910
1,000,000
1,000
4
1887
A & () Apr 1 1917
1,000
1,000,000
1887
4
-\1 & N Nov 1 1922
1,000
930,000
1891
4 g J & J Jan 1 1926
1,000
1,000,000
1892
4 g A & O Oct 11932
1,000
1,500,000
6 g J & J July 1 1911
1H 1871
1,000 3,000,000
92 1871
6 g A & o Apr 11911
M & N Nov 1 1943
214 1904 1,000 &c 10,570,000
4g
1,000
5,000,000
1909
4 g J & J Jan 1 ’ l5 -’24
500
280,510
1888
4 g A & O Apr 1 1938
500
100,000
1888
3 g A & O Apr 11938

A 09-year agreement for trackage with the Mich. Cent, and Can. South,
from St. Thomas, Ont., to Internat. Bridge and Niagara, 132 m..extends the
line easterly to Butlalo, from July 18 1004. V. 77, p. 2007; V. 78, p. 2000.
ORGANIZATION.— Formed Dec. 11 1907 as a reorganization without
foreclosure per plan In V. 85, p. 41, 100, of the old Pere Marquette, which
was consolidated with the Pere Marquette R R . of Indiana, the lease to the
Cln. Ham. & Dayton being canceled. (V. 85, p. 1519.)
STOCK.— The preferred consists of two classes, viz.: 4% first pref.
stock, cum. after
years, with preference also as to assets, and 4% nonoum. 2d pref. stock, not preferred as to assets.
The Cincinnati Hamilton & Dayton owns $11,000,000 of the stock.
BONDS.—The refunding 4s of 1005 ($60,000,000 auth. issue: outstanding
$12,230,000, of which $0,207,000 arc guar, by the Cln. Ham. & Dayton,
prill, and Int. V. 80, p. 163; V. 89, p. 1668.
The $5,000,000 6% 5-year debentures were Issued to pay the floating
debt, receiver’s ccrtfs. and other corporate purposes. V. 85, p. 1402.
The collateral trhst gold bonds of 1902 (limited to $2,870,000) are secured
by the entire capital stock ($1,400,000) of the I.. E. & Det. Rlv. R y., the
National Trust Co., Ltd., of Toronto, being trustee, and arc subject to call
on any Interest day on 60 day’ s notice. V. 75, p. 1302; V. 76, p. 213.
Lake Erie & Detroit River Division mtge., V. 76, p. 1356; V. 77, p. 89.
Pere Marquette R R . of Indiana 4s of 1903 were assumed on consolidation
Dec. 1907. V. 76. p. 919, 1193; V. 85, p. 469, 1519.
Marq. & Bcs. Dock & Nav. 1st gold 4 'As, due April 1 1933, $396,000, are
guaranteed jointly by P. M. and Bess. & Lake Erie. They are subject to
call In whole or In part at 105, and 1% must be called yearly for the s. f.
at the same price, If not purchasable at a lower figure. V. 76, p. 480, 594,
706, 922, 1034. Form of guaranty, p. 1358. Also guarantees $100,000
M. A B. I). & N. deb. 5s, due Jan. 1 1935; debenture 5s of 1905, V.82,p.l01.
The $1,950,000 equip, trust 6s of 1908 are In two series: “ A ,” $750,000,
and “ B ," $1,200,000, maturing one-quarter yearly, and arc secured by
equipment costing $5,503,996 In 1903-04 and deposit of $375,000 refunding
4s, viz., $200,000 for “ A ” and $300,000 for “ B” certificates. V. 86, p. 548,
721, 020.
EARNINGS.— For 6 mos. ending Dec. 31:
6 Months—
Gross.
Net.
Other Inc. Charges. Bal.,Sur.
1909 .................. $8,267,144 $2,712,340 $38,477 $2,149,694 §601,123
1908 ................ . 7,226,280
2,238,512 156,382
2,148,448
246,446
REPORT.— For year ending June 30 1909, V. 89, p. 913.
Inc. ( + ) or
Year ending June 30—
1908-09.
1907-08.
Dec. (— ).
Operating revenue___________
$14,629,827 $13,753,982 + $875,845
Operating expenses _____________ 10,581,580
10,545,988
+ 35,592
Taxes ....................................
576.893
553,239
+ 23,654
Other Income.

$3,471,354
238,209

$2,654,755
502,373

+ $816,599
— 264,164

R entals__________________________
Interest on bills payable__________
Interest on receivers’ certificates__ .

$3,709,563
$2,941,151
699,066
11,690
17,005

$3,157,129
$2,731,618
674,433
41,763
102,981

+ $552,434
+ $209,533
+ 24,833
— 30,073
— 85,976

Balance, surplus or deficit_______sur.$40,651 def.$303,667
+$434,318
Old Basts—
1906-07.
1905-06.
1904-05.
Gross earnings.......................................$14,214,195 $13,430,170 $12,667,420
Net earnings......................................... 4,236,843
3,497.076
2,751,643
DIRECTORS.— Henry F. Shoemaker, Charles Steele, Geo. F. Baker,
Geo. VV. Young, Norman B. Ream, Geo. VV. Perkins, F. D. Underwood,
J. G. McCullough, G. A. Richardson, W. R. Cross, Frederick W. Stevens,
E. It. Bacon, L. F. Lorec, Walter B. Horn of New York; Francis It. llart
of Boston; O. G. Murray, A. Patrlarche and Geo. F. Randolph of Balti­
more; William Cotter and Henry B. I.edyard of Detroit. Pres., William
Cotter.— (V. 89, p. 847, 913, 1281, 1543, 1508, 1668.)
PERKIOMEN RR.— Owns from Perklomen Jet., Pa., to Emaus Jet., Pa..
38.3 m. Stock ($1,500,000, par value of shares, $50) owned by the Read­
ing Co. and mostly deposited under Its Jersey Cent, collat. 4% mtge of 1901.
V. 72, p. 283. Reorganized In 1887. In year 1906-07, gross, $571,159;
net, $349,747; Interest and taxes, $108,230; dividends (7% ), $105,000;
perm. Improvements, $10,856; bal., sur., $125,662.— (V. 72, p. 283.)
PETERBOROUGH RR.— Wilton to Greenfield, N. H., 10)4 miles.
Leased April 1 1893 to Boston & Lowell for 93 years at 4% on stock and ex­
penses. Capital stock, $385,000; par, $100; dlv., A. & O.
PHILADELPHIA & BALTIMORE CENTRAL RR.— West Phlla. to
Octoraro Jet., Md., 63 m.; Wawa to West Chester, Pa., 9 m. (double track,
11 m.): branch, 2 m.; leased. Chester Creek R R ., 7 m.; Phlla. Balt. & Wash,
holds $2,497,150 of the $2,499,184 stock. For 1908 gross earnings $1,212,­
384; net, Inc. other Inc., $159,521; charges, $181,063; bal.. def., $21 542.
PHILADELPHIA BALT & WASHINGTON RR.— (See Map Petin.RR.)
Lines owned—
„
Miles. | Lines controlled, leased. A c .—
Phlla. to Washington, D. C., via
|Phlla. & Balt. Central*
80
Balt. all( double track)--------- 135|De!aware R R .* _______________ 249
Bowie to Pope’s Creek, Md--------- 49 Delaware Md. & Va.*_______ I
98
Branches to Delaware City, & c .. 42|Other lines (5)_________________ 54
Total (*sce this company)------------------------------------ ----------------------- 707
ORGANIZATION.—A consolidation Nov. 1 1902 of the Philadelphia
Wilmington & Baltimore R R . and Baltmore & Potomac R R . V 75 d
395. 1032; V. 82, p. 510. See Washington Terminal Co. on another page.
STOCK. Stock, authorized. $25,350,450; outstanding Jan. 1 1909
$25,138,000. of which Pennsylvania RR owned $25,135,475.
Dividends since consol.. Dec. 31 1002 to D c 1909 4% yearly (s-a).
BONDS.—The first mortgage of 1903 ($20,000,000 author zed) Is a first
lien on the Phlladelphla-Baltlmore division, 117 mllcs.fall double-tracked.




Ill

RAILWAY STOCKS AND BONDS.

R Wlnthrop & Co, N Y
Second Nat Bk. Boston

Penn RR Co, Phlladel
Broad St Station, Phlla
OH, Phil; Kidd, Peab.Bos
do
do
Broad St Station, Phlla
do
do
do
do
/Nat Mech Bank, Baltol
\
& London
/
Am Ex N Bk. NY; & Phil
Reading Terminal, Phlla
do
do

and also secures pari-passu the $4,930,000 debentures of the former P. W . &
u.(sec p.4 of “ Supp.” of A pr.1895), and Is a second lien on the line from Bal­
timore to Washington. Of the bonds, $10,570,000 were sold, the balance
being reserved to retire the debentures and Baltimore & Potomac bonds
V. 78, p. 49. Mortgages, &c., 1908, $284,623.
The $5,000,000 serial 4s of 1909 are to be secured by any new mortgage.
V. 84, d . 1368; V. 85, p. 284; V. 87, p. 1605.
EARNINGS.— 11 mos., (1909......... Gross, $16,140,846; net, $4,338,571
Jan. 1 to Nov. 30.
\1908......... Gross, 14,790,246; net, 3,738,871
REPORT.— Report for year ending Dec. 31 1908 In V. 88, p. 743
1908.
1907.
Year ending Dec. 31—
1906
1905.
Gross earnings________ $16,126,570 $17,255,572 $15,941,241 $14,676,204
Operating expenses___ $12,285,374 $13,456,231 $11,599,989 $10,802,932
937,798
747,296
832,987
751,526
Rentals on basis net earn .
Net ........................ .. $2,903,398
Int. on Investments, &c_
739,201

$3,052,045
743,051

$3,508,265
776,556

$3,121,746
804,940

Total net Income____ $3,642,599
Fixed rentals_________
$20,938
Interest on bonds______
900,000
Ground rents, &c______
15,675
Other Interest_________
316,333
Taxes ________________
526,564
Rent, equipment, <5cc_.
424,057
Dividends (4 % )_______ 1,005,519
433,513
Extraord. expenditures.

$3,795,096
$41,781
900,000
14,496
303,703
498,564
65,200
972,630
998,720

$4,284,821
$49,785
900,000
12,747
157,308
373,702
8,728
939,742
1,842,810

$3,926,686
$49,948
900,000
12,747

T o t a l______________ $3,642,599 $3,795,096 $4,284,821
— (V. 86, p. 1219; V. 87. p. 415, 1605; V. 88. p. 686, 743.)

$3,926,686

285,659
24,567
939,742
1.714,023

PHILADELPHIA & CHESTER VALLEY RR.—Road from Bridgeport
to Downlngton, Pa., 23.9 miles. Chartered In 1888. Capital stock (par $50)
In common. $550,000; preferred, $205,100; total, $755,100, of which Read­
ing Company owns $454,450 common and $205,100 pref., $450,000 common
and $205,100 pref. being deposited under Its gen. mtge. of 1897. Reading
Co. guarantees bonds, with Int. reduced. See V. 63, p. 1064.
PHILADELPHIA & ERIE RR.— Merged in Penn. R R .— V. 86, p. 1590.
PHILADELPHIA & FRANKFORD RR.— Owns from Crescentvlllc to
Frankford. Pa., 2.71 miles; 2d track, 0.10 m.; total tracks, 4.31 miles. The
$500,000 stock Is owned by Reading Co., of which $498,950 Is deposited
under Its mortgage of 1897; prln. and 4% Int. Is guaranteed by Reading Co.
Leased to Philadelphia & Reading R y. for 999 years from July 1 1907 for
Interest on $500,000 first mortgage bonds and $102,919 outstanding obliga­
tions, any excess of net earnings to be applied to reduction of principal of
latter, and thereafter to dividends on stock. (V. 67, p. 1358, 1357.)
PHILADELPHIA GERMANTOWN & NORRISTOWN RR.— Phlla., Pa.
to Norristown and Germantown, Pa.. 20.96 miles, second track, 20.35 m.:
3d track. 3.02 m.;total track, 95 miles, leases Plymouth R R ., 9 m. Leased
on Nov. 10 1870 to Phlla. & Reading for 999 years; rental, $277,623, In­
cluding $8,000 yearly for organization expenses.
PHILADELPHIA HARRISBURG & PITTSBURGH.— See page 174.
PHILADELPHIA NEWTOWN & NEW YORK R R — Philadelphia to
Newtown, P a .,22 mlles;2ni track,3.45 m.; 3d track, 1.51 m.; sidings and
laterals, 4.24 miles. Stock— com.. $1,225,000; pref., $400,000; par, $50.
Of the bonds. $849,100 (with coupons only partly paid—see V. 64, p. 331)
are owned by the Reading Co. and deposited under Its gen. mtge. of 1897.
In Oct. 1898 Int. on $507,000 bonds was reduced to 3% from April 1 1897
and made a first charge, that on remainder of Issue being left at 5% , sub­
ject to said agreement. V. 68, p. 773. Year ending June 30 1909, gross,
$171,686; net, $75,014.
PHILADELPHIA & READING RR.— See “ Reading Company.”
PHILADELPHIA & TRENTON RR.— Phlla. (Kensington), Pa. to
Morrlsvllle, Pa., 26 miles, mostly four-tracked. On June 30 1871 leased for
999 years to Pennsylvania R R . at 10% on $494,100 stock, the balance,
$765,000, being owned by United RRs. of New Jersey.
PHILIPPINE RY.— Under a concession granted July 13 1906 by the
Philippine Gov’t, In accordance with an Act of Congress of the United States
In 1905, and with the approval of the Secretary of War, this company has
contracted to build lines of railroad In the Philippine Islands as follows: Isl­
and of Panay, 100 miles: Negros, 100 m., and Cebu, 95 m. The construction
of 35 in. on Cebu Is optional to the company, which has the right under the
contract to construct an additional 25 m. of main line on each of the islands.
Definite location surveys have been completed as follows; Panay, 105
miles; Negros. 73 miles; Cebu, 80 miles. 60 miles of road on Cebu Is In
operation, extending from Danao to Carcar and 40 miles on Panay, extend­
ing north from Hollo. Additional sections amounting to 33 miles are under
construction on Panay. extending from the end of the completed line to
Capiz.
ORGANIZATION AND SECURITIES.— The company was Incorporated
March 5 1906 under the laws of the State of Connecticut with an authorized
capital of $5,000,000 and Is being financed by a syndicate headed by William*
Salomon &. Co. V. 80, p. 2622: V. 82, p. 219, 752; V. 83, p. 493, 970, 1412;
V. 85, p. 794; V. 87, p. 1358. Under the terms of the concession the Philip­
pine Govt, guarantees Int. on an Issue of 1st M 30-year sinking fund
4% gold bonds, which may be Issued to extent of 95% of cost of construc­
tion. Any int. payments by the Government become a cumulative lien on
the property, subject to the lien of the 1st M. bonds. The entire Issue of
bonds Is subject to redemption at 110 and Interest on any Int. date. Bonds
may also be drawn by lot at 110 and Interest for an annual sinking fund
which must be established after July 1 1911, before any dividends can be

i 12

RAILWAY STOCKS AND BONDS.

RAILROAD COMPANIES
[For abbreviations, &c., see notes on first page]

Miles Date
Road Bonds

Par
Value

Amount
Outstanding

Rate
%

When
Payable

[VOL. L X X X X .
Last Dividend Places Where Interest and
and Maturity
Dividends are Payable

Philadelphia & Erie—See Pennsylvania RR
$1,000
$500,000
Phila & Frankford— First mtge $500,000 guar. OuP.c*
1892
4 g F A A Aug 11922
13— M Dec 4 1909 3%
50 2,246,900
12
30
Phila derm & Norristown— Stock rental P & R Ry__
1,000
2,000,000
Philadelphia Harrisburg & Pittsburgh— 1st M g.c*A r
47 1890
A & O 15 Oct 15 1925
5g
1,599,000 See text A & O Oct 1 1942
Phila Newtown & N Y— First mortgage gold (text)_c
22 1892
1,000
Philadelphia & Reading Ry—See Reading Company
100 See text
10
Philadelphia & Trenton—Stock 10% rental Penn RR
26
0 — J Jan 1910 2X 7 ,
100 5,000,000
Philippine R y —Stock $5,000,000 authorized________
5,880,000
1,000
First M $15,000,000glnt guar s t red llO B ax c* Ar*
- - - 1907
4 g J A J July 1 1937
Piedmont & Cumberland—See Western Maryland
Pine Creek— See Geneva Corning & Southern
1,000
250,000
9 1899
Piqua & Troy— First mtge $250,000 gold guar p & l__c
4 g M A N Nov 1 1939
50 10,000,000
3
A A O Oct 1 '09 1 H ",
Pittsburgh Bessemer & Lake Erie—Common 3% rent
50 2,000.000
6
Preferred stock 6% cumulative guaranteed by rental
J A D Deo 1 1909 3%
134 1800
1,000 3,000,000
Pittsburgh Shenango & Lake Erie 1st M gold.Ce.c*
5 g A A O Oct 1 1940
151 1893
1,000
657,000
Consolidated first mtge for $4,800,000 gold.Ce.c*
5 g J A J July 1 1943
193 1897
1,000
6,343,000
Pitts Bess & L E cons mtge $10,000,000 gold.-U s.c*
5 g J A J Jan 1 1947
193 1899
1,000
2,000,000
Debentures gold $2,000,000 red (see t e x t )_____UP
5 g J & I) June 1 1919
1899
1,000
Shenango equip trust $73,000 part due yrly g -.U P i
292,000
5g
A & O Apr 1 1010-1913
__ 1900
Greenville equip trust $100,000 due yearly g __ UPi
1,000
1,000,000
M A N May 1 1911-’20
5g
1901
1,000
Butler equipment trust $2,050,000_____________UPi
2,050.000
5 g A A O Apr 1 1021
Pitts Bingh & East—First M $20,000,000 gold------- K
1906
5g
A & () Oct 1 1056
19 1892
Pittsb Chart & Yough—Gen M $1,000,000 g gu.-F P i
1,000
169,000
A & o Apr 1 1932
4g
Pittsburgh Cincinnati Chicago & St Louis—Com stock 1,095 ____
100 28.647,400 4 In 1909 F A A Feb 15 1910 2>4
Preferred s t o c k .................... ........................................ 1,095 ____
100 27,463,700 5 In 1909 J & J Jan 15 1910 2 R
Chic St L A Pitts cons M ($22,000,000) g .-.U n .c& r
580 1883
1,000
1,506,000
A & O Oct 1 1032
5g
Steuben & Indiana first mortgage........................ . . r
116