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nbtstnrs' inuultmtnt OF THR CoMMERCIAL & FINANCIAL CHRONICLE. [Entered according to act of Congress, in the year 1892, by Wx. B. DA.NA & Co., in the office of the Librarian of Congress, Washington, D. C.] VOL. 54. NEW YORK, JANUARY 30, 1892. RAILROAD DIVIDENDS FOR SEVEN YEARS. In the following extended statement we show the dividends paid in each of the last seven years on all raiL road stocks (of steam road.,) sold at the Stock Exchanges in New York, Boston, Philadelphia and Baltimore. It should be clearly understood that dividends actually paid form the basis of the comparison, and not thosedeclared within the year. Where dividends are declared in one year and paid in another, they are included in the latter. It happens that towards the close of 1891 there was a tendency towards enlarged dividends. In someinstances, however, the increased dividends, though declared in 1891, were not payable till 1892. Where that has been the case of course the figures for 1891 do not reflect the present rate of distribution. For an analysis of the changes which occurred during 1891 the reader is referred to our article in the CHRONICLE of January 2,. 1892, pages 7, 8 and 9. DIVIDENDS ON RAILROAD STOCKS. Na.me of Company. Dividend _P eriods. 1885. 1886. 1887. 1888. 1889. 1890. I 1891. NEW YORK. Albany & Susquehanna (leased) Jan. and 7 7 7 7 7 7 7 Beech Creek, pref .... ___ ... __ ... Jan. a.nd J~. J y (b) 212 5 5 5 5 8•53, Belleville & Bo. m. (leased),pref. May and Nov. 8·4 5 5 6:\J. 6:\/. 6:\/. Boston & N. Y. Air Line, pref .. April and Oct. 4 4 4 4 4 4 4 Canada Southern ...•.••......••. Feb. and Aug. 212 212 212 319 212 ... 3 .. ·-T Canadian Pac11lo .••.. __ ..••..... Feb. and Aug. 3 3 3 5 5 Central of New Jersey ...••.••. Quarterly-Feb. ......... . ..... ... .... . 3 6 612 Central Pacifl.c ..•... _..•...••... Feb. and Aug. ...... .. ... 2 2 2 2 ···4·· Central RR. & Bk. of Ga .••.••. . June and Dec. 7 6 8 8 8 Char. Col. & Augusta .. __ ... __ .: 4 2 ·- --· Chica_f;o & Alton • __ . _••.• __ .. __ . 8 8 8 pref ..•.....•... Quarterly-Mar. o 8 8 8 8 8 8 8 Chicago Burlington & Quincy .. Quarterly-Mar. 5 4 8 8 8 5 414 Chicago & Eastern Iillriois .••.. ...... -·. ........ ...... . . 5 6 t ... 6 .. ·· ·41.g (d) Do pref•.••..••..••. ..... . . 6 stock. 712 ··---· Chicago Junction Railways, &c Jan. and July. . ... .. 712 . -. --·--· ·----· Do do do pref. Jan. and July. ...... 6 . . ·4·. 5 .... ... 5 Chioai0 Milwaukee & St. Paul. April and Oct. 2~ ... 7 .. ·· ···o do pref. April and Oct. 7 7 7 6 412 7 Chioa.f>o & Northwestern .. _.. _.. June and Dec. 6 6 6 6 6 612 6 do pref ... luarterl:;r-Mar. o 7 7 7 7 7 7 712 uarterly-Feb. Chio. Rockisland & Pao .••..••. 4 7 7 7 4 3 612 an. and July. 4:\J.(h} Chio. St. P. Minn. & Om., pref .. 6 6 3 4 4 6 Cincinnati Hamilton & Dayton. 7 6 5 6 5 .. T ···4·· 4 4 4 6 5 Do do 8ref. 219 (g) Cinn. India.nap. St. Lollis & hie. Quarterly-Mar. 5 5 1 414 ---6 .. ···4· · Cincinnati N. O. & Texas Pao ... 3 .. .. Cleve. Cin. Chic. & Bt. Louis ... Jan. and July. 4 3 . .. ---i~ Do do pref. Quarterly-Jan. 5 5 ...... (g) Cleve. Col. Ctn. & Indianapolis. Jt'eb. and Aug. 219 ---7·· -··1·· ···1·· """7 "" Cleve. & Pittsb., guar. (leased). juarterly-Mar. 7 7 7 eb. and Aug. 5 5 5 5 Danbury & Norwalk 1leased) . •. 5 219 5 Delaware & Hudson Canal ..•.. auarterly-Mar. 7 7 5 5 6 6 7 uarterly-Jan. Delaware Look. & Western .••. 7 7 7 7 7 7 7~ 3~(a) Denver & Rio Grande, pref..••. . . . . . .... 2¼ 2~ 2~ Detroit Bay City & Alpena .•••. 4 219 ... ""i;. •• ···4·· ···9:i (e) 2 Dubu~ue & Sioux City .••....••. ....... ···5·· 4 5 2 East enn. Va. & Ga., 1st pref. ···4·· Evansville & Terre Haute .• _•.. Quarterly-Jan. 5 5 5 5 7 10 11 11 11 10 10 10:\J. Qeorra. (leased) ..••.•••...•..••. Quarterly-Jan. 1 4ll& Grea. Northern, pref •....•..••. .......... ---7 -1·93 Hannibal & Bt. Joseph, pref .••. -··1·· ···,;i; 6 7 5 519 Dllnols Central .••.•••••••.•••.. Mar. and B~t. 4 4 4 4 4 4 4 Leased line certs .. Jan. and J y. Do 1 2 Keokuk & w..-stern . .....•.••••• ···4·· 4 Lake Erie & Western, pref•..••. Quarterly-Feb. ...4.. . 61g 4 5 Lake Shore & Mich. Southern . . Feb. and Aui· -··4 ·· 4 4 4 4 4111 Lo~lsland .••...•...••••••.•••. juarterl;r- Fe . 6 (i) 5 stock. • 5Jstock. 5 eb. and Aug. Lo ville & Nashville---· .••.. ••.6.. ...6.• 519 (c) 6 (i) 6 5 Manhattan Elevated .••...•..•.. juarterly-Jan. 4 5 5 4 4 eb. and Aug. Mlcbigan Central .•••.....••.••.. 7 7 4 lliL Lake Shore & Western ..••. ···1·· 7 7 7 pref. Feb. and Aug. do do Do ---7·· -··1·· 4 4 3 7 514 Missouri Pao111.o ..••.•••..••..••. ~uarterly- Jan. 7 7 7 7 7 an. and July. 7 7 Morra & Essex (leased) ......... 4 5 5 5 414 1 Nashv. Chattanoo!a & Bt. Louis Quarterly- Jan. 7· 7 7 7 6 619 New London Nort ern (leased) . Quarterly-Jan. 4 4 4 4¼ 412 4 319 New York Central & Hudson ... Quarterly-Jan. 312 N, Y. Chicago & St. L., 1st pref. .......... . ·-· .. .... N. Y.& Harlem incl.4thAv .RR.8&2 8&2 8& 219 8 & 2¼1 8&2 8&2 8&2 Common .••..•• ••••.•.•..••.... Jan. and July. 8&2 8&2¼ 8 & 219 8&2 8&2 8&2 8&2 Preferred .••.••••.•• ••••• .•••.. Jan. and July. 5 6 5 5 5 5 5 N. Y. Look. & Weit, (guar.) ..•. Quarterly- Jan. 10 10 10 10 10 10 10 N. Y. New Haven & Hartford .. Quarterly- Jan. 10 10 10 10 10 8 819 N. Y. Prov. & Bost.(Btonin~n) Qua.rt.erly- Feo. 114 ....... ...... ...3.. New York Sueq. & West., pref .. """iig 3 Norfolk & Western, pret ..•..••. April and Oct. . 4 4 Northern Pacifl.o, pref ..•..•••.. . - ... .... . ..ii; ···41g 3 Oregon Improvement Co . ...... . 31g 7 7 Do do pref. March and Sept. ···6····,;·· ···4i;. (u) 6 6 7 Quarterly-Jan. Orefirn Railway & Nav. Co ..• _. 1 114 5 Pao o Ma.ilBteamship .••..••... -....... -···5·· ···9·· 23° 10 Panama. -· ---- .. -.. - -.. --- .. . . ... . --. .. - ... ---.... - .. (b) In 18Ul 1:11~,1:k was madti common, and 4 per cent dividend& guarante-ed by New York Centl'al. t In Jan., 1888, old common stock was exchanged into new pref (a) With the djvidend paid Jan. 2, 1892, amount for year would be 6 per cent, (h) Dividendperlodobangedfrom quarterly to semi-annually. · (c) All but 1 per cent of this in bond scrip. (a) 114 per ot. of this in scrip. (e) Also 5 per ct. In &took of Iowa Land & Loan Co.; also asset.& 1n treat ■u.ry. (i) 1 lg per cent of this in bond scrip. (g) Thi>se two roads now oonsoJ.ln the _ c. O.C. & Bt. L. (fl 4·9 of this in stock. (u) ow•n~ t,o s p o11tponement of some ot the earlier dividends, the payment of the last quarterly dividend tor 1885 was thrown into .January t8e6, reduolng tl'e perrentage for 1885 to the figures here given. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ···s·· ijiia"iterii.:.:Mai-: - ------ ···s·· ·--s·· ----------- ···s·· ----- - ··---- --- ---- ----· -- ----·· ...... •··s .. ..... --·. ·-· ···- -· .... .. --· -........ ················-· ..... --· --· . --·. --· ·----- ···s-- ...... ...... ....... ---· ...... ...... ...... --...... -··:r· ---· .. -----· -----·.. ---- ...... ....... ---.·· ···s-- ···s·· ---· .. ------ ---· ...... ...... ----·· ---------·· ----· -··s·· ...... -··s·· -··s·· ···s·· ..... --· .... .. ....... ...... --· .. - --· ······ ---· .. ··-··· -- ... ...... .... .. ---· .. --- .. ...... ---· .. .... . . ---· ---·. .. ···-·· ---· ···s·· ... --- ···s.. 0 0 --·s·· • INVESTORS' SUPPLEMENT. 2 LVOL. LIV. DIVIDENDS ON RAILROAD STOCKS--{C0NCLUDED). Name of Company. Dividend Periods. Pennsylvania Coal. •.. : •• .. .•••. Pitts. Cin. Chio. &St .L., pfd . . ••. Pittsb.Ft.W.& Chio.,guar.(l'sed) Do do special.. Pittsb. Youngst'n & Ashtabula. Do do pref. Pullman Pa.lace Car .••..••..•.. . Ren886laer & Saratoga (leased). Richmond & Danville . . .•..••. . . Riohm'd & W('lst, P. Term .• pref. Rio Grande Westno, pref . ..•.. Rome Watertown & Ogdensb'rg Bt. L. Alton & T. H. (leased), pref St. Louis & San Francisco, pref. Do do let pref. St. Paul & Duluth, common . • •. Do do pref. Bt. Paul Minneap. & Manitoba.. Tennessee Coal & Iron ••.•...•.. Do do pref. Terre Haute & Indiana.polls .••. Toledo & Ohio Central . •... . .••. Do do • pref. Wheellng & Lake Erie, pre! . ••. BOSTON. Atchison Topeka & Banta Fe .. Boston & A.I bany .••..••...•..•• . Boston Concord & Mont., pref .. Boston & Lowell ..••..••....••. Boston & Maine •••..••.•••.•••. Do pref .••••••. Boston & Providence ........... BostonRevere BeaC'h & Lynn . . Central Branch Union Pacific . . Cheshire, pref .••...........•... Chicago & West .Michigan ..••. Ctn. Sand. & Cleveland, com •••. Do pref .••..••. Concord ....••••..•..••..•••.•••. Concord & MontrealCliiss I. (Bost. con. & Mon. pf.> Clase U. (Bost. Con. & Mon.) .• Claes IV. (Concord stock) •.... Connecticut River ...•..••.•••. Connecticut & Passumpsio.pfd. Detroit Lansinlc & Northern .•.. Do o pref Ea.stern, common ............... Do do pref. ~tern, N. H. (leased:) .••...••. eJ River (leased) . . ... . ..•. . ••. Quarterly-Feb. dt :i~r~~ ~~~r:.h.~~~~~~::: Do pref . ••...•.•..•..••. Flint & Pere Marquette, Ere! .. . Ft. Wayne & Jack. pref ( eased> Haitford & Conn. West. (leased> Housatonio, pref . •••..•. . . • . . .•. Kans. City .Ft• ..t3cott & Memphis Do do pref. Maine Central. .....•••..•..••. . . Manchester & Lawrence . •.... • . Marg. Houghton & Onton.,pref. Nashua & Lowell (leased) .. . .... New Haven & D erby (leased\.. New York&New E1·gland,pref. Northern (N. H.) .•••...•..••.... N orwioh &Worcest'r pfd. (leas'd) Old Colony . ........ ••.. . .•...•. Pittsfield & No. Adams (leased) Portland & Rochester .•........ Portl'nd Saco & Portem.(leased) Providence & Worcester .•...••. ~~;;!~i?i &r:fassaoiiiis,-ts· <i,-se<i> Vermont Valley . . . ....•... . .. . Worcester Nashua & Rochester . PHI LA.DELPHIA.. Bell's Gap ..... . ................. Camden & Atlantic, pref ....••. Catawissa (leased), pref .••• · ··-• Do new pref..•.••..• • . Delaware & Bound Br'k (leased) East Pennsylvania (leased) . .••. Elmira & Williamsport (leasedi. Do do pref....•. , Harrisb.Portem.Mt.J.&L.(l'sed) HuntiDf>don & Broad Top ...... o do pref. Lehigh Coal & Navigation .•••.. Lehigh Valley .......•...•....••. Little Schuylkill (leased) ... . ... Minehlll & Schuyl. Hav. (leas'd) Nesquehoning Valley (leased) .. North Pennsylvania (leased) ... Northern Central .•••••••.•••... Pennsvlvania Railroad ..•....•. Pennsylvania & Northwestern. Phila. Germant. & Nor. (leased) Philadelphia & Trenton (leas'd) Phila. Wilmin~n & Baltimore Schuylkill Va ey . . . ...•....... . U!li.ted Coe. of N. J. (leased) .. .. W eat J ereey .... . .••....... _.... . West J...rsey & Atlan t ic . •••..••. BA.L'.l.'I.ll.lOKE, Atian. & Uhar. Air Line (leased) Balt.imore & Ohio-Main Stem . . do. pref. stocks . .•. Do. do. Wash. Branch. Do. Central Ohio com . ..•.......•... JJo. do. pref . .••. . ••. . .. . West Virginia {,ent. & Pittsb . .. Wil. Colllillbia & Augusta. . . _... WHmfo1'(to• & Welcton . . •. ... ... auarterly-Jan. uarterly-•Jan. March and Sept. ~uarterly-Feb. an. and July. Jan. aad J~. Jan. and J y 1885. 16 April and Oct. Feb. and Aug. """7"" ···7·· 6 ... ... ...6.. Quarterly- Jan. Quarterly- Feb. !uarterly.:._ Feb. uarterly-Mar. ay and Nov. Jan. and July. May and Nov. ~u~r1:v.:..:Ywi: an. and July. Jan. and July. Feb. and Aug. May and Nov. May and Nov. ·····--·····-··--· . ..... .. .. . -- .. --juarterly-Jan. eb. and Aug. Feb. and Aug. Feb. and Aug. Mar. June April April and Sept. and Dec. and Oct. and Oct. 7 7 ...... .... -. """2ii ···7·· ···7·· ···a.. 8 3 219 ...6.. ··-· .... .... ...... 6 8 6 6 5 3 ···;·· '""5i; ·--2·· ------ '""ii"" ···a, 6 2 5 4~ 6i.., 8 5 -··s·· ·--s·· ···s-- (k) . ··7·• ·10-- ---6·· ·10 .. ,r10·· ···e·· 3 619 10 6 219 6 ---6-- 7 6 6 '""4"" 519 7 9 7 ···s·· 6 4 7 ...5¼ ·-···· ··· ··· -.--·...... . --· .. .. .... ---· .. ----.. ---- .... .... --6 .. ~ 5 5 5 8 5 ---8¼ ·--5¼ ...... ------ """iis """5"" """ii; """5"" ·--s·· 5 3 7 419 6 419 l 5 519 ---6 .. ...3.. 219 8 6 10 4 8 6 10 519 7 419 8 .. "7 .. ...... 0 01 """i" " 6 & feitra 9 7 5 6 8 7 5 5 4 6 6 119 6 6 6 1 6 6 3 &17stook. t5 519 519 6 10 3 819 ---,,-6 8 7 5 6 6 §12 1¼ 6 6 6 3 6 5 5 5 ···1-- ---7-- 7 8 6 7 8 6 5 7 7 5 7 7 ---... --·--· 6 7 7 5 4 7 ·--sis ---,is 7 5 8 8 5 ·1ir· 10 8 5 10 6 5 5 10 6 10 6 6 6 8 2 4 419 7 7 5 ···si; ···6·· 419 2 5 --·2·· 12 519 .... .. - --·sii 8 6 10 6 9 2 319 6 10 (k) ·--s·· ---· .. ···s·· 6 4111 2 5 ...... ---6ii 519 .·-· .. ···s·· 8 6 10 6 9 . ··;, ·· . ··1 -- 6 6 8 7 5 6 6 8 7 5 6 6 10 1 6 6 6 <•>219 7 7 8 6 5 7 7 ···s·· 4:19 5 8~ 719 20(m) 119 6 6 6 7~ 3 7 7 8 6 5 7 7 ···s·· 5 5 7 719 5 5 8 8 & 10 stock. 519 5 8 7 5 12 .. ·12·· ·12·· ·12·· 10 10 10 7 8 8 0 5 7 7 8 6 5 7 7 ···s••. 10 8 5 10 6 5 5 8 6 10 6 6 8 5 10 7 5 10 8 8 5 5 10 519 ---··· ···si.; (n) 3 (n) 419 2 5 ...2.. 6 519 2 ·--si; 8 6 6 6 10 2 6 6 6 519 .2 """i"" 4 6 (r) 2 7 6 8 9•90 ( V ) 5 6 6 10 3 6 6 6 (r) ···;, ·· •. "7"" 7 8 6 5 7 7 7 8 ···s5 ~ 5 8 719 5 8 s 519 219 12 10 6 5 ·--a·· ...6•• 10 6 6 10 6 8 ···s~ 3~ 9 2 7 6 & 25 extra 8 7 5 ·--a·· ---6-· 4¼&50stoclc 2 5 9 3 (C) 5¼ 8 .---··· -.... 1-0 5 ···a·· . ..... rn 5 8 6 6 2 6 8 5 5 1 6 8 319 (d) 6 10 7 419 ...6.. "" flc) ...... 7 5 10 6 (a) 6 619 5 10 6 6 6 10 7 3 6 5 4 6 9 919 3 (/) 10 7 10 •10" 6 . ..8.• 6 10 ···s-- . --- .. ···7·· -·~aii 10 -••6.• .. ---· ··-· .. .... 6 6 6 1 6 8 ~ii) 6¼, 6,(q)&208 le ...... 2 5 6 10 119 5 . ..6.. .... .. . ,. 519 Jan. and July, J an. and July. 5 7 1 3 7 8 8 10 -..... ···s·· """5·· Sept. Nov. July. Nov. July. July. 5 . ..6.. 219 ··r Jan. Feb. Feb. Feb. and and and and an d and 7 8 6 10 5 ·--s·· 2 Mar. May Jan. May J a n. J1;i,n. 8 8 10 ...... 5 Jan. and July. June and !Jee. ~uarterly- Jan. an. and July. Jan. and July. Mar: and Sept. ~uarterly-Feb. an. ai.t1 July. May and Nov. Jan. and July. Quarterly-Mar. ~uarterly-Jan. an. and July. Jan. and July. ~uarterly- Jan. ar. and Sept. Mar . and Sept. 8 8 5 5 7 3t 7 6 1 '""iii December. 7 l¼, 5 May and Nov. May and Nov. ~uarterly- Feb. an. and July. May and Nov. Jan. and July. Jan. and July. 16 3 7 7 3 7 ·--,.·. ···2ii ·--sii April and Oct. Jan. and July. Jan. and July. 16 7 ...6.. J an. and July. Feb. and Aug. Mar. and Sept. and July. and Aug. and Aug. and Aug. May and Nov. Feb. and Aug. May and Nov. Jan. and July :'rlay and Nov. ~uarterly- Jan. an. and July. Jan. and July. Jan. and J~. Jan. and J y Jan. and July. Quarterly-Mar. 16 .. ·1·· ···s¼ 6 10 5 1891. 7 7 619 10 6 1890. ---,.-- 919 5 ···s·· 16 1889. .. ·;, ·. 51' 8 5 7 9 8 &31 3 stk. 8 1888. . ..6.. 6 . ..... .... .. ---~-..... .. 519 6 16 ---,,-- ···s-8 ....... --- .. •-"7 .. 1887. ···;,-- ----.. ···s·· 8 ....... --· .. ...... Jan. and July. Feb. and Aug. 16 ···;,·· ....7 .. ··········---·---· ····--····-·· . .... Mar. and Sept. Quarterly- Feb. 1886. 6 5 7 7 2 7 5 5 7 71g 5 8 7 6 5 12 10 6 5 10 7 · · · •• '\. 6 20 stock, 6 10 6 6 1 6 8 ("') In ort>ase due to change of dividend ~eriod. (k) Consol. as Concor d & Mont r eal, which se_e. (cl From a i:,sets. 'II Also 321si per cent extr a out of amoun r, received from the Old Colouy under t he provisions of lease. (l) F ormerly Eastern preferred. (i, ) Che11hire road was com.ol1datt:d with F itchburg Oct., 1 890, and it 11 st1.,ck exchanged for F1to1Jburg preferred. · (d1 Coru mon stock ot t tJit1 r 4:1 a d h aR be,-n ex ch c1,nged tor Oleve. Cincin. Chic & l:lt. Louis stock. (n ) Now exchanged into Bos. & Maine stock. (t) Comm, n stock changed mto preferred thls yeq,r, a nd 3313 per cent stock dividend p aid. • (§>Periud s ch anged; 3 per cent semi-annua l paid J anuary and l ½i quarterly March 31 a nd 212 quarterly June 30, Sept. 30 and Deo. 31. . (r ) Cou s ulidawd with Cleartleld & Jefferson u nder the 11ame of Pennsylvania & Nor thwestern . · {m ) 10 1,er 00nt of t h is trow a s11ets. (s1 5 per l'ent ctec~ar e,1, payable January 1, 1889, and ~eluded in 1889 tlgures. It) Exchanged into Duluth South Shore & Atlantic bonds. tAnd 15 per cent m cowmon erook. (PJ t ½I m i,r eferred stock. ( v ) Increa se 1e due to ohange of dividend period. (q) This is made up of one semi-annual dividend of 3 per cent and three quarterly dividends of 114 per cent. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1892.] INDEX. RAILROAD AND OTHER MAPS IN THE SUPPLEMENT. 3 INDEX TO RAILROAD MORTGAGES. Abstracts of leading railroad mortgages published from time CHRONICLE ar~ indexed below : ' to time in the The railroad maps in the SUPPLEMENT and maps of certain ~al companies' properties may be referred to easily by the mdex below. These maps are prepared with much care in the CHRONICLE office, and are intended to show as clearly as possible the precise location of the various railroads represented -and their strategic position in commanding business. VOL. PAGB. MAP. PAGE. Alabama Great South. see E . Tenn. Va. & aa.. . .•..•..•.••.....•••••• 54 Atlantic & Pacific. See Atchison Topek a & S ant a Fe........ 8, 9 , 10, 11 Atchison Topeka & Santa Fe ...................•........•.•... 8, 9, 10, 11 Baltimore Bel..~. · · · · • · · · · · · · · · · · · · · · • · · · • • · •• · · · · · · · · · · • • • · • · • · • • • · • •• • • • 14 Baltimore & Ohio . . . ............. •. •·•••· · ••• • ••• ••••••••·•••·••· •••·••·· 15 Baltimore & Ohio Southwestern. See Baltimore & Ohio . ............ 15 Buffalo Rochester & Pittsburg .......·.............••......•.........•.. 18 s N y k C -t al Canada Southern. ee ew or en r • • • • • • • • • • • • • • • • • • • • • • • • • •· • 91 Centralia & Chester ................ . ......•••.•••••••••••••••••••••••••• 24 Central RR. & Bitnk.ing co. of Georgia ....•.•..••••••••••••••••••••••• 23 d & W te Central New Eng1an es rn....................................... 21 Central Pacific. See Southern Pacific . .. . ............•••.•.••••••••••• 125 Ce tral RR 0 f N J 26 n · ew ersey......................... . ................... Charleston Cincinnati & Chicago.••••••••••••••·•••···•••••••·•··••··•• 27 Chesapeake & Ohio .......... . ......................... •..••...••.••.•••• 29 Chicago Burlington & Quincy .•..••..•...•......... . ........••...•..••• 30 Chicago & Eastern Illinois . ............ _.................. . •....••...•• 32 Chicago Milwaukee & St. Paul ........... .• .... . .......••..•••••..•..••• 34 Chicago & Northwestern .. . . ...........••......... , ..................... 36 ,. I d & p ifi Chicago R oc.... s1an ac c. • • • • • • • • • • • • •·· • • • • • • •· • • •· • • • • • • • • •·· • •· 38 Cincinnati Hamilton & Dayton .......................•..•...•.....•.••• 40 Cl 1 d &c t 42 eve an an on.· · ············· · · · · · · · · · · ·· · · · ·· • · · · · · · · • · · · · · ··· • • • Cleveland Cincinnati Chicago & St. Louis.•••••••·•••••••·•••••••••·••• 44 Colorado Fuel.. ... . . . .... . ....... . ................... ... ................ 144 Colorado Midland. See Atchison Topeka & Santa Fe................. 10 • V ll & T d Columbus Hockmg a ey o1e o .... • • • • • • • • • •· • •· • • • • •· • • • • • • • • • • 46 Dela.ware & Hudson Canal Co.'s Lines . . ........•.•..• ••.•..... . ....... 48 Delaware Lackawanna & western 50 d · · · • · · · · · · · · · · · · · · ··· · · · ·· · • · · · · · · · · • · & R. G 10 D enver ran e. • • • • • • • • • • • • • · • · · • • • • • · · · · • · ·· • •· · · · · · · · •· · · · · · · · 51 Dubuque& Sioux City. See Illinois Central. .....................•.... 64 East Tennessee Virginia & Georgia ...........•....................•... 54 Elgin Joliet & Eastern ... . .... . ............ •.•••.•••.•••••• .. ••• ••••.• . • 56 Evansville & Terre Haute •••.••..•••••• ~ ••••.••.......... . ... .. .......• 57 Flint & Pere Marquette.. .... . .................... . ....... . .. . ... .. ..... 59 Galveston Harrisburg & San Antonio. See Southern Pacific ... .. .... 125 Grand Rapids & Indiana. See Pennsylvania RR . •...... . ............. 104 Great Northern .................... . .................................... 61 Houston & Texas Central. See Southern Paci.fie ...................... 125 Illinois Central. ..... .. . . ..........••••••••••......... . .............. • ••• 64 Kanawha & Michigan. see Toledo & Ohio Central. .. ... . ............. 128 . & Gulf Kansa s City Watkms •················· ·· ······················· 67 Lake Erie & Western ... .. .. .. ........................................... 69 Lake Shore & Michigan southern. see New York Central. .......... 91 Lehigh Valley .... . . . ....... . ... . ..... · ····· · ··· · ··· · ··············· · ···· 70 Louisville E v ansville & St. Louis. See Evansville & Terre Haute ... 57 Louisville & Nashville .......... . ............ . ................•......... 72 Louisville New Albany & Chicago ... • •·· •··· ··· · · ······· · ··· ·•········· · 74 Louisville New Orleans & Texas ..... . .. .. ...... . . ······ · ··- · .......... 75 Louisville s t. Louis & Texas . ........... . .. .. . . ......... . ............... 76 Memphis & Charleston. See East Tennessee Virginia & Georgia. .... 54 Mexican Central................. . ...................................... 78 Michigan Central. See New York Central. ........................... 91 Milwaukee Lake Shore&Western ...................................... 80 l\Onneapolis ~treet Railway .......... . ........ . .......... . ... .• ...•... . 146 ,...•--eapolis st Paul & s Ste Marie 83 =--uu.,. • • • ••••••••• •• •••••••••••••••••••••••• Missouri Kansas & Texas............ .... ...............•............... 84 Mobile & Ohio . .. . ................................... . .............. .. ... 86 Atchison Topeka & Santa Fe. Old mortgages. .... . . . . . • . • • . New consol. M. 4s, due 1989; new incomes, due 1989.. .• Atlantic & Pac. RR. 1st Guar. Trust M. 4s, due Jan. 1, 1937. lat M. Western div. 6s, due Jul[. 1, 1910. . ........... •. . • • 2d M. Western div. 6s, due Sep . 1, 1907. . .. . .. .. . ... . . . . . Income M. Western div. 6s, due Oct. 1, 1910.... . ... . . . ... Atl. & Pac. RR. lat M. Central div. 6s, due March 1, 1922... Ba.It. Belt 1st mort. 5s, due 1990... ... ..... . ..............•.•• Baltimore & Ohio Consol. M. 5s, due Feb. 1, 1988 .•... • ...••• Balt. & Ohio Southwestern 1st M. 412s, due Jan. 1, 1990..... 1st, 2d and 3d income mortgage, due Jan. 1, 1990.... . ... Brooklyn Elevated-Un. El. 1st M. 6s of 1887, due 1937. ... Union Elevated 2d M. of 1887, due 1927 .. . . ..... . .. . .•... Cambria & Clearfield 1st M 5s, 1891, due 1941....... . ....... Central RR. & Bk. Co. of Ga. Col. Trus 15s, due May 1, 1937. Consol. Mort. 5s, due April 1, 1937......... . .... . ......... Central RR. Co; of N. J. Gen. M. 5s, due July 1, 1987.... . ... Central Pacific M. 6s. due Oct. 1, 1936............ .......••••• Chesapeake & Ohio lat M. 6s, due July 1, 1908.. .. . ..• ••. •••• 1st M. Peninsula ext. 6s, due Jan. 1, 1911....... . .. .. . . •• lat M. extensions, 6s, due June 1, 1922. ... ... . .. . . ... .... lat consol. M. 5s, due May 1, 1939.. ... . . .. . . .. . . .. . . . .. .• lat consol. on Rich. & All., due 1989..... .. . . • . . . . • . . .•• • • 2d consol. on Rich. & All., due 1989...... ..... •........•.. Chicago Burl. & Q., Nebraska ext. 4s, due May 1, 1927 .•• • •• Chicago & Erie lat and income mortgages, due 1982 ... . ..•• C.M.&St.P.,lstM.,Chic.&L.Sup'rdiv.5s,dueJulyl,1921. lat M. Chic. & Milwaukee 7s, due Jan. 1, 1903. ... .. . . . . . 1st M. Chic. & Mo. River 5s, due July 1, 1926. . . . .• . •. . •• 1st M. Chic. & Pacific 6s, due Jan. 1, 1910 . ..... . ...••. . . 1 st M. CMhic.t& Pacdific WJulestern 5 s, due Jan. 1, 1921.... •• y 1 , 190 5 . . . . . . . . . . . • . . . . . . . . . • • • 0 onso1. or . 7 s, ue lat M. Dakota & Great Southern 5s, due Jan. 1, 1916.. •• lat M. Dubuque 6s, due July 1, 1920.... . .............. .. • 1st M. Fargo & Southern 6s, due Jan. 1, 1924. .. . . • ... • • • 1st M. Hastings & Dakota exten. 7s, due Jan. 1910...... 1st M. Iowa & Dakota 7s, due July 1, 1908...... ...••• ... lat M. Lacrosse & Davenport 5s, due July 1, 1919.. .• . . . lat M. Mineral Point 5s, due July 1, 1910. ... .... •. . . . . . . 1st M. River division 7s, due Jan. 1, 1902. ............. •• 1st M. Southern Minn. 6s, due Jan. 1, 1910 ............... Terminal Mort. 5s, due July 1, 1914.. . .......... .. .. . ..... 1st M. Western Union 6s, due July 1, 1909...... . .....•.. lat M. Wisconsin & Minn. 5s~ due July 1, 1921...... . .... lat M. Wisconsin Valley 6s, uue July 1, 1920. ...... .. . . • . General M . 4s of 188fn_ due 1989.. . ............ . .. . . . . .. . • . Chicago & Northern Pac· c lat mort. 5s, due April 1, 1940. . Lease to Wisconsin Central, dated April 1, 1890. . . ...... C. Rock I. &Pac. lstM.,C.Kan.&Neb. R.'1:- 6s,dueJulyl,1934 1st M. Extension & Collat. 5st due uly 1, 1934. .. . • . . . • • 1st M. St. Joseph & Iowa 6s, uue July 1, 1935........ .• •• 1st M. Wis. Minn. & Pac. 6s, due Oct. 1, 1934... . . . ... . . . . . Cincin. Jackson & Mack'w lat Con. M. 5s, due Dec. 1, 1936. Clev. Cin. Chic. & St. L.-Collat. trust St. L. Div. 4s, due 1990. Colorado M.F6sb, ConsolMidlatnd4lsdt mor . a, ue e .dlue1J9un40e , . . 1, . . .1936. . . . . . . ... . . . .• . . .. .. . . ..... . . . . . .••• Denver & Rio Grande lat Con. M. 4s, due Jan. 1, 1936. .. .•• Improvement M. 5s, due June 1, 1928. .... .. . .. . . . . . ...•• 1 ~~:t~ ~~rest~r~oisxt East Tenn. Va. & Ga., Cinn. Extension 5s, due 1940. ....... Fort Worth & Denver City l at M. 6s, due Dec. 1, 1921. . ....• Georgia Car. & North'n 1st M. 5s, due July 1, 1929. .. . ... . .. Houston & Texas Central. all new mortgages of 1890 .....•. Iowa Central lat M. 5s of 1888, due 1938 .. . ......... .. ....... Kan. City Memphis & Birm. lst M. 5s, due March 1, 1927 ..•• Kentucky Central l at M. 4s, due July 1, 1987.. . ............. Kings County Elev. 1 st M. 5s, due Jan. 1, 1925 ............... Lake Erie & Western 1st M. 5s, due Jan. 1, 1937. .. .. ........ Lehigh Valley of New York lat 412s, due July 1, 1940.. ..... Louisv. Evans. & St. L. lat Con. M. 5s, due July 1, 1939..... Louisville & Nashville Unified mort. 4s, due Jul:v 1, 1940 . . . Manhattan Elevated consol. 4s,due April 1,1990............ Mexican Central consol. M. 4s, due 1-911 and 1939. . . . . .. ..•• M. St. P. & S. Ste. Marie 1 st Cons. M. 5s, due July 1, 1938.. . lat M. Minn. S. Ste. Marie & Atl. 5s, due Jan. 1, 1926. .. . Minneapolis StreetR'y consol. mort. ofl890, due Jan. 15, 1919 Mo. Kan. & Texas Ry. 1st M. 4s, due June 1, 1990... .......• 9 Mis;tu~·t:cii~el:tgin\: ~. Mobile & Birmingham l at M. 5s, due Jan. 1 , 1937.. .. . . . . . .• Mobile & Ohio General M. 4s, due Sept. 1, 1938....... . .. . ..• New York Chicago & St. Louis 1st M. 4s, due Oct. 1, 1937 .. N. Y. Ontario & Western Cons. lat M. 5s, due June 1, 1939. N. Y. Susquehanna & West. 1st mort. 5s, due Aug. 1, 1940.. : : : ~ : ~h!::~:~g~':st~L~~·s·.-.;... ·.·.·.-.·.-.·.·.·.:·.-.-:::::::::::::::::::: :~ New York Central & Hudson River: ..... . ... . .................. . ...•. 91 New York Chicago & St. Louis. See New York Central.. ............ 91 New York Ontario & Western ...... . .. . ....................•..••....••• 94 New York Susquehanna & Western ... . . .. .............. . ............... 96 Norfolk & Western ... . .. . ... . .. . . . . ..... ...................... ... ....... 98 Northern Pacific ... . .. . ... . .......... . .... . ..... . .. . ...... . .. .. .... .. . .. 101 -Oregon Short Line & Utah Northern. See Union Pacific ....... . ...... 133 Pennsylvania . ........ . .... . . .. .. . . ... . . ......... . .. . .... . . .. . . . . ... . .... 104 Peoria Decatur & Evansville. See _Evansville & Terre Haute....... 54 Philadelphia & Erie. See Pennsylvania Railroad .... . .. . ....... . .... 104 iPhiladelphia & R eading .. . .. .. . .. . .. . .. . . . ........ . ........... .. ... . ... 106 Pittsburg Cincinnati Chicago & St. Louis ...... . . . .... . .......... . .... 109 Pittsburg Fort Wayne & Ch1cago. See Pennsylvania Railroad . ... .. 104 Pittsburg Sh enango & Lake Erie ... . ..... . .. . ... ... .... . ............... 111 Poughkeep sie Bridge. See Central New England & Western......... 21 Richmond & D anville. See Richmond & West Point Terminal ...... 113 Richmond & West Point Terminal. . . .... . ..... . . . .... . .. . .. . ........... 113 Rio Gr and e Southern. See Denver & Rio Grande...... . . . ............ 51 Rio Gr ande Western . ... . .. . .. .. . .. .. . ... ...... . . . .................. . ... 115 .St. Louis Cape Gir ardeau & Fort Smith . . .. .... .. ... . ........ . ...... . .. 118 St. Louis & San F r ancisco. See Atchison system......... .. .. . ... .. ... 11 .San Ant onio &,,Ar ansas P ass .... . . ..... . .. . ... .. ............ . .. . ... ... . . 119 .Savannah Am er icus & Montgomer y . ... .. .. . .. .. ... . ... ... ....... . ... . 121 ·.Shen andoah Valley. See Norfolk & West ern ........ .. ... . . . ..... . . .. . 98 -Sioux Cit y & North ern .. . .. . . .. .... . . . . .. . . . ................ . .. . .. . .. . . . 123 S outhern Pacific Compan y ...... .. . . ... . .. .... . ..................... ... . 125 Toledo Ann Ar bor & North Michigan ..... . . . . . . . .... . .. . . . . . ... .. . . . .. 127 Toledo & Ohio Central. . ..... ... . .. ... .. . ............ .... ... . . . . . ... .... 128 Toledo & Ohio Central Exten sion . ... . . .. . . ... . .. . .... . .. . ... . . . .... . .. 130 Toledo St. Louis & K a n sas City ... . .. . . . .. . . .. . . .. .... . . . ... . .. . ....... 131 UnionPacific .. .... . ... ... .. .... ... ... .. . ... . ...... . .... .. . .. . . . . .... . ... 133 Union P acific D en ver & Gulf . .. . . . ... . . ..... . .. . .... . .. ... .. ..... .. ... . 135 Virginia Midland See R ichmond & West Point Terminal. ........ . .. . 113 Wabash .. . .. . ... .. ... ... .... . . .. .. . ... ...... . .. . ..... . ................... 137 'Wiiconsin Oentral Companies ........................................... 141 Norg>~!.tu:£:!!~e!.~\!~J:a~°e\~~ku~s9,J3~1:i~ t,11~,e9J~.~~~:: Northern Pacific 3d M. 6s, due Dec. 1, 1 7. .. . . . . . . . . . . . . . .• Duluth & Manitoba lat M. Dak. Ex.6s, due June 1,1937. Consol. mortgage of 1890, due 1989... .. .. . ...... ... .. . . .• Omaha & St. Loms lst6M.d4s, doue Jlanl.910,01937....... .. . . . . . . . Oregon Pacific lat M. a, ue ct. , .... . . . ....... . ....•• Oregon Ry. & Navigation Col. Trust 5s, due Sept. 1, 1919. . . Oreg. Short Line & Utah No. con. M. 5s, due April 1, 1919. . Collateral Trust5s, due Sept. 1, 1919 . ... . . . ..... . ..... . . .. Peoria & Eastern-0. Ind.& West. 1st M.5s, due Apr.I, 1938. Consol. 1st mortgage 4s, due April 1, 1940. ..... ......... Income mortgage bonds, due April 1, 1990.......... . .... Philadelphia & Reading g-eneral M. 4s, due Jan. 1, 1958 . .. . . 1st, 2d and 3d Prer. Inc. M. 5s,due Jan. 1 , 1958 ......... Pittsburg & Western 1st M. 4s , due July 1, 1917 . . .. . . . ... .. . Poughkeepsie Bridge Co. l at M . 6s , due Aug. 1, 1936.. . .... . Richmond & W. P. Ter. Co. Col. Trust 6s, due F eb. 1, 1897 .. Consol. lat collateral M. 5s, due March 1, 1914... .. ..... Rio Grande Southern ... . . . .. . .. . . . .. ... . . . ....... . .. . . . .. . .... Rio Grande West. l at M. 4s, due July 1, 1939 .. .. .. . . ......... St. P. M. & M. 1st M. Mon. ex t., 4s, due June 1 , 1937. ... . . . . P a cific E x t en sion 1st mort. 4s, due July 1 , 1940. . . ...... San Ant. & Aran sas Pass 1st M. on ext., 6s, due July 1:, 1926. San Fran. & Nor t h P acific 1st M. 5s, due J an. 1 , 1919. .. .. . . . Savanna h & West ern l at Cons. M. 5s, due Mar ch 1, 1929 .... Southern Pacific gen. M. 5s of 1 888, due 1938. .. .. .... . . .. ... Texas & P a cific l at M. 5s. due June 1, 2000. . .. .... .. .. .. . . .. 2d M. 5s1 due D ec. 1 , 2000 .. . .. .. .. .. ....... ... . . . ... . . . . .. Toledo P eoria & West ern l at M. 4s, due July 1, 1917... . . . . . , Tol edo St. L. & K an sas Cit y 1st M. 6s, due June 1, 1916 . . ... ., UnionPacific D en ver &Gulf con.M. 5s, due Dec. 1, 1939 . ... Virginia Midland gen er al M. 5s, due May 1, 1936. .. ... . . .. . . Wabash l at M. 5s, due May 1 , 1939... . . . . .. . . . . ...... . .. . .. . . 2dM. 5s, due F eb. I, 1989 . . .... . ... . . .. .. .. .. .... . .. . . ... . D eb. M. 6s, due July 1, 1939.. . . .... . . ...... . . . . . . .. . .. . .. . , Western New York & P enn. l at M. 5s, due Jan. 1, 1937.. .... · 2d M., 3 to 4 p er cent, due Oct. 1, 1927 .. ................. Wt st Shore lat M. 4s of 1889, due 2361.... .. . .. .. .... ..... •.. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis T"~ti~5s~d~/;~.\. :rJfi:::::::: 4'9 49 49 49 49 49 49 52 46 51 51 49 49 52 45 51 45 45 45 45 45 49 51 51 45 51 45 45 45 45 15 ...5 45 45 45 45 4c5 45 45 45 45 45 45 45 45 48 52 52 47 47 47 47 45 52 4551 47 47 546 857 302 302 303 304 303 205 804 245 246 583 584 976 242 571 402 241 54, 55 55 147 144 144 441 911 146 85 213 · 144 14~ 8., 213 144 212 144 114 114 145 85 114 212 114 145 145 830 465 468 262 260 261 261 574 42 55402 7 228 229 52 45 49 52 49 45 45 49 46 51 49 51 51 49 47 45 52 51 83 440 239 242 582 575 372 237 45 114 208 613 248 177 142 243 356 495 45 47 45 49 52 274 83 541 238 84 ~~ ~s;du·e·Nov:i:·i920::::::::::: ~} I ~~l ~~~ t4& ~i2~2 7 45 273 50 279 4495 224103 51 243 51 242 51 243 47 201 51 246 51 247 46 679 47 141-2 45 439 45 275 45 575 49 115 54 163 49 237 45 342 52 82 45 372 49 241 49 240 49 509 47 82 47 82 45 24 2 45 403 51 244 47 23 49 270 49 272 49 273 47 109 47 110 42 176 INVESTORS' SUPJ?LEMENT. 4 INDEX TO RAILROADS-CONSOLIDATED, [VOL, LIII. &c. The ·names of companies not given in the SUPPLEMENT tables in their alphabetical order will be found in the Index below• Many railroads have lost their original title by foreclosure or consolidation, while others have been practically merged by lease or by purchase of their stock; the old names of such companies are given below, together with the title of the present organization under which their securities may be found, . NAME. WILL BE FOUND UNDER- Akron & Chicago Junction .......... Baltimore & Ohio. Alabama Central. ................... East Tenn. Virginia & Georgia,. Albemarle & Pantego ................ Norfolk & Southern. Albemarle & Raleigh ................ Wilmington & Weldon. American Dock & Improvement Co .. Central of New Jersey. Androscoggin & Kennebec .......... Maine Central. Ashtabula & Pittsburg . . . ........... Pi~sburg Yol!,Il.gstown & 4,shtabula. Atchison & Nebraska ................ Chicago Burlin~on & Q.mncy. Atchison & Pike's Peak ....... ..... .. Central Branch union Pacific. Atlantic & Great Western ....... .... New York Pennsylvania & Ohio. Atlantic & Gulf ...... ........ ........ Savannah Florida & Western. Atlantic Mie~ssippi & Ohio .......... Norfolk & Western. Atlantic & ]S'orthwcst................ Cana,dian Pacific. Atlantic & l;'acific ................... See Atchison System. Augusta & E:noxville ................ Port Roval & Western Carolina. B achman V'.alley .... : ................ Western Maryland. Baltimore & Cumberland ......... ... Western Maryland. Baltimore & Hanover ............... Western Maryland. Baltimore & Harrisburg ............. Western Maryland. Baltimore & New York .............. Baltimore & Ohio. Battle Creek & Sturgis .............. Lake Shore & Michigan Southern. Bay City & Battle Creek............. Michigan Central. Bellefontaine & Indiana . ... . . ....... Clev. Cin. Chic. & St. Louis. Belleville & Carondelet ........... ... St. Louis Alton & Terre Haute. Belleville & Eldorado ..... ........... St. Louis Alton & Terre Haute. Belleville & ·southern Illinois ..... .. St. Louis Alton & Terre Haute. Bell's Gap ..:.·.· ....................... Pe~msylvania & Northwestern. Beloit & M3idison ..._. ................ Ch1ea~.&Northwestern. Black River & Morristown .......... Rome watertown & Ogdensburg. Birmingham Equipment ............ Kansas City Memp. & Birmingham. Bluff Point lmprovement ........... Delaware & Hudson Canal. , Booneville Bridge.................... Missouri Kansas & Texas. Booneville St. Louis & Southern .... Missouri Pacific. Boston Barre & Gardner ... . ........ Fitchburg. Boston Olin'. Fitch. & New Bed ..... Old Colony. Boston Concord & Montreal. ........ Concord & Montreal. Boston Hartford & Erie ............. New York & New England. Boston Hoosac Tunnel & Western .. Fitchburg. Boston Providence & Fishkill ....... New York & New England. Brooklyn &·Montauk . . .............. Long I sland. Brunswick & Chillicothe . .. .. . ...... Wabash. Brunswick & Western ...... ... .... .. Savannah Florida & Western. Buffalo & Erie .... . .................. . Lake Shore & Michigan Southern. Buffalo New York & Philadelphia .. Western New York & Pennsylvania. Burlington Cedar Rapids & Minn... Burlington Cedar Rapids & North. Burlington & Missouri River ........ Chicago Burlington & Quincy. Burlington & Southwestern ......... Chicago Burlington & Quincy. Busk Tunnel. .................... . . .. Atchison Sys.-Colorado Midland. Cairo Arkansas & Texas ............ Missom·i Pacific-St. L. I. M. & So. Cairo & Fulton ...................... Missouri Pacific-St. L. I. M. & So. Cairo & St. Louis .................... St. Louis & Cairo. Cairo Vincennes & Chicago . .... . ... Cleveland Cin. Chicago & St. Louis. California & Oregon ................. Central Pacific. California Southern................. . Atchison Topeka & Santa Fe. Camden & Amboy ................... United New Jersey. Canada Central ..................... . Canadian Pacific. Cape Girardeau Southwestern ...... St. L. Cape Girardeau & Fort Smith. Carbondale ·& Shawneetown ........ St. Louis Alton & Terre Haute. Cedar Rapids & Clinton . ... .. ...... . Burlington CedarRapids&North'n. Cedar Rapids Iowa Falls & N. W ... Burlington Cedar Rapids &North'n. Cedar Rapids & Missouri River ..... Chicago & Northwestern. Central Iowa ........................ Iowa Central. Central Washington ... . . ............ Northern Pacific. Charlottesville & Rapidan .......... Virginia Midland. Cheshire ... ·.......................... Fitcbburg. Chicago & Atlantic .................. Chicago & Erie. Chicago & Calumet Terminal .. ..... Chicago & Northern Pacific. Chicago Clinton Dubuque & Minn .. Chicago Milwaukee & St. Paul. Chicago & Great Eastern . .. ... .. ... Pittsburg Cin. Chicago & St. Louis. Chicago & Great Western ........... Chicago & Northern Pacific. Chicago & Indiana Coal. ............ Ch!cago & Eastern Illinois. Chicago Iowa & Nebraska .......... Chicago & Northwestern. Chicago Kansas & Nebraska .... . ... Chicago Rock Island & Pacific. Chicago Kansas & Western .. ....... Atchison Topeka & Santa Fe. Chicago & Michigan Lake Shore .... Chicago & West Michigan. Chicago Milwaukee & N. W; ......... Chicago & Northwestern. Chicago & Milwaukee ................ Chicago & Northwestern. Chicago& North Michigan .......... Chicago & West Michigan. Chicago & Pacific .................... Chicago Milwaukee & St. Paul. 0hicago Santa Fe & California ...... Atchison Topeka & Santa Fe. Chicago & St. Louis ... ..... .. ........ Atchison Topeka & Banta Fe. Chicago St. Louis & New Orleans ... Illinois Central. Chicago St. Louis & Paducah ........ St. Louis Alton & Terre Haute. C~cago St. Louis & P!ttsburg ....... Pit~sb'rg Cincinnat~ Chicago & St. L. Chicago St. Paul & Minn ............ Chicago St. Paul Minn. & Omaha. Chicago & Southwestern ............ Chicago Rock Island & Pacific. Chicago & Springfield ................ Illinois Central. Chicago & Tomah .................... Chicago & Northwestern. Chicago Wisconsin & Minnesota ... . Wisconsin Central Co. Chippewa Falls & Western .......... Wisconsin Central. Cincinnati & Baltimore .............. Baltimore & Ohio Southwestern. Cincinnati Hamilton & Indianapolis.Cincinnati Hamilton & Dayton. Cincinnati &· Indiana .......... ; ..... Cleveland Cin. Chic. & St. Louis. Cincinnati Ind. St. Louis & Chicago.Cleveland Cin. Chic. & St. Louis. Cincinnati Lafayette & Chicago .... Cleveland Cin. Chic. & St. Louis. Cincinnati Richmond & Chicago .... Pittsb'rg Cincinnati Chicago & St. L. Cincinnati Sandusky & Cleveland .. Cleveland Cin. Chic. & St. Louis. Cincinnati Southern ................. Cincinnati New Orlean s & Tex. Pac. Cincinnati Van Wert & Michigan .... Cincinnati Jackson & Mackinaw. Cincinnati Wabash & Michigan ..... Cleveland Cin. Chic. & St. Louis. Cincinnati Wash. & Baltimore .... .. Baltimore & Ohio Southwestern. Clarksville & North Carolina ........ Richmond & Danville. Clearfield & Jefferson ................ Pennsylvania & Northwestern. Cleveland Columbus Cin. & Ind..... Cleveland Cin. Chic. & St. Louis. Cleveland Mt. Vernon & Delaware.. Cleveland Akron & Columbus. Cleveland Painesville & Ashtabula.. Lake Shore & Michigan Southern. Clevel. Tuscarawas V. & Wheeling .. Cleveland Lorain & Wheeling. Coeur d'Alene ........................ Northern Pacific. Colorado Central. ....... ·............. Union Pacific Denver & Gulf. Colorado Midland ................... See Atchison" System." Columbia & Augusta ........ .. ....... Charlotte Columbia & Augusta. Colorado Bridge ..................... International & Great Northern. Col. Chicago & Indiana Central. .... Pittsburg Cin. Chicago & St. Louis. Columbus & Eastern ................. Columbus Shawnee & Hocking. Columbus & Hocking Valley ........ Columbus Hocking Valley & Tolede. Columbus & Indianapolis Central... Pittsb. Cincinnati Chic. & St. Louis. Columbus & Rome .... .. ............. Savannah & Western. Columbus & Toledo .................. Col. Hocking Valley & Toledo. Columbus & Western .. ... .....•..... Savannah & Western. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NA.!'1E. WILL BE FOUND UNDER- Concord ................... .-.......... Concord & Montreal. Connecticut Western ... .. ........... Hartford & Connecticut Western. Connotton Valley .................... Cleveland & Canton. Consolidated Vermont ............... Central of Vermont. Covington & Lexington ............. Kentucky Central. Covington & Macon ................. Macon & Northern. . Current River ........................ Kansas City Fort Scott & Memphis. Dakota Centr;1l ...................... Chicago & Northwestern. Dakota & Great Southern ........... Chicago Milwaukee & St. Paul. Dallas & Waco ....................... Missouri Kansas & Texas. Danville & Grape Creek .......·.....-.Cbicago & East Illinois. Dayton Fort Wayne & Chicago ..... Cincinnati Dayton & Ironton. Delano Land . ........................ Lehigh Valley. Denvoc Pacific ........... . ..... ... ... Union Pacific. Denver & ·R io Grande Western ..... Rio Grande Western. Denver Texa a &. Fort Worth . , ...... Union Pacific Denver & Gulf. Denver Texas & Gulf ...... ·- ....... . Union Pacific Denver & Gulf. Detroit & Bay· City ...... : ... : ....... Michigan Central. DetroitMaollinae & -Marquette ..... Duluth South Sho1fe & Atlantic. Detroit & Milwaukee ................ Detroit Grand Haven & Milwaukee. Detroit Monroe & Toledo ............ Lake Shore & Michigan Southern. Duck RiV'er ...... : .. : ........... : .... Nashville Chattanooga & St. Louia. Duluth & Manitoba .................. Northern Pacific. Duluth Short Line .................. . St. Paul & Duluth. East Line & Red River .............. Missouri Kansas & Texas. Eastern of Massachusetts ........... Boston & Maine. Eastern.of Minnesota................ St. Paul Minn. & M11n. Easton & Amboy .................... Lehigh Valley; Elmira· State Line ................... Tioga. Erie .................................. New York Lake Erie & Westocn. Escanaba & La~e Superior .......... Chicago & Northwestern. European & North American ....... Maine Central. Evansville & Crawfordsville ........ Evansville & Terre Haute. Evansville Henderson & Nashville.. Louisville & Nashville. Evansville & Richmond ............. Evansville & Terre Haute. Evansville Rockford & Eastern ..... Louisville Evansville & St. Louis. Fargo & Southern .................. . Chicago Milwaukee & St. Paul. Flemington .. . ... ... .'. . ............ . .. Belvidere Delaware. Florida Railway & Navigation...... Florida Central & Peninsular. Florida Southern ..................... Jacksonville Tampa & Key West. Fort Smith & Van Buren Bridge .... Atchison Sys.-St. Lo. & San Fran. Fremont Elkhorn & Missouri -Val. .. Chicago & Northwestern. FultonElevated ...................... Kings County Elevated. Grand Haven ........................ Chica~o & West Michigan. Grand R "pids Lansing & Detroit .... Detroit Lansing & Northern. Grand Rapids Newaygo & L. Shore.Chicago & West Michigan. Grand River Valley........... . .. : .. . Michigan Central. Green Bay & Minnesota ...... .. ..... Green Bay Winona & St. Paul. Greenville & Columbia .............. Columbia & Greenville. H annibal & Central Missouri. ...... Missouri Kansas & Texas. Hanover & Gettysburg .............. Western Maryland. Harlem & Portc)lester . . ............. New York New Haven & Hartford. Hastings & Dakota .................. Chicago Milwaukee & St. Paul. Helena & Red Mountain ....... :.:: .. Northern Pacific. Henderson Bridge Co ......... .. .... . Louisville & Nashville. Hereford ... .... •..... . ... ... ......... Maine. Central. Holly Wayne & Monroe ............. Flint & Pere Marquette. Holyoke & Westfield ..... .. ....... ... New Haven & Northampton. Humeston & Shenandoah .. .. . .. .... Chicago Burlington & Quincy. HuntinburgTellCity & Cannellton.Louisv. Evansv. & St. Louis Consol. Illinois Midland..... . ..... . . ... ..... . Terre Haute & Peoria. lliinois & St. Louis ........ . .......... Louisville Evansv. & St. L. Consol Indiana Bloomino-ton & Western ... . Peoria & Eastern. Indiana & Lake ffichi~an .. .......... Terre Haute & Indianapolis. Indianapolis Cin & Larayette ........ Cleveland Cin. Chic. & St. Louis. Indianapolis & Cincinnati. . . ........ Cleveland Cin. Chic. & St. Louis. Indianapolis Decatur & Springfl.eld .. Indianapolis Decatur & Western. Indianapolis & St. Louis ............. Cleveland Cin. Chic. & St. Louis. Ionia & Lansing ............ . .. .. .... Detroit Lansing & Northern. Iowa City & Western ................ Burlington Cedar Rapids &North'n. Iowa & Dakota ...................... Chicago Milwaukee & St. Paul. Iowa Falls & Sioux City ............. Dubuque & Sioux City. Iowa Midland ................ . ... .... Chicago & Northwestern. Iowa & Minnesota ................... Chicago Milwaukee & St. Paul Ithaca & Athens ..................... Lehigh Valley. .J"ackson Lansing & Sa~aw ........ Michigan Central. Jacksonville Southeas"tern .......... Chicago Peoria & St. Louis. J acksonville Louisville & St. Louis.Chicago Peoria & St. Louis. James River Valley . ................. Northern Pacific. Jamestown & Franklin .. ... .. .. ..... Lake Shore & Michi~an Southern. Jefferson Madison & Indianapolis .. Pittsburg Cincinnati Chic. & St. L. Joliet & Chicagp ..................... Chicago & Alton. Junction & Breakwater ............ . Delaware Maryland & Virginia.. K alamazoo Allegan & Gr. Rapids .. Lake Shore & Michigan Southern. Kalamazoo & South Haven ......... Michigan Central. Kalamazoo & White Pigeon ......... Lake Shore & Michigan Southern. K anawha & Ohio ..... . ... ·........... Kanawha & Michigan. Kansas & Arkansas Valley ... . .... . Missouri Pacific. Kansas City & Beatrice ............. Kansas City Wyandotte & N. W. Kansas City & Cameron .. ........... Hannibal & St. Joseph. Kansas City Fort Scott & Gulf ...... Kanl!)as City Fort Scott & Memphis. Kansas City & Memphis Ry. Bridge.Kansas City Fort Scott & Memphis. Kansas City & Omaha .......... . .... St. Joseph & Grand Island. Kansas City St. Louis & Chicago .... Chicago & Alton. Kansas City Southeastern & Memp.Kansas City Fort Scott & Memphis. Kansas City & Southwestern ..... ... Atchison Sys.-St. L. & San Fran. Kansas City Springfield & Memphis.Kansas City Fort Scott & Memphis. KansasCity Topeka & Western ..... Atchison Topeka & Santa Fe. Kansas Equipment ... .. ... . ........ . Kansas City Fort Scott & Memphis. Kansas Midland .. ..... ... .. ... .... .. .Atchison Sys.-St. L. & San Fran. Kansas & Missouri. ......... ~ ........ Kansas City Fort Scott & Memphis. Kansas Paci.fie ....................... Union Pacific. Keithsburg Bridge ................... Iowa Central. Kingman Pratt & Western ... . ...... Atchison Topeka & Santa Fe. Knoxville & Ohio ........ .... .... . ... East Tennessee Virginia & Georgia Lackawanna & Pittsburg ........... Lackawannna & Southwest.ern. Lackawanna & Susquehanna....... Delaware & Hudson. Lafayette Bloomington & Muncie ... Lake Erie & Western. Lancaster & Reading ...... ......... . Reading & Columbia. Lawrence ........................... . . PittsburgYoungstown&Ashta.bula. Leeds & Farmington ..... ......•..... Maine Central. Lehigh & Susquehanna ....••. , •... .. Lehigh Coal & Navigation. JANUARY, 18Q2, l NAME. INVESTORS' WILL BE FOUND UNDER- Leroy & Caney Valley..... •..•...... Missouri Pacific. Lincoln &Northwesrern .........•••. Chicago Burlington & Quincy. Lincoln Park & Charlotte .......•••. Buffalo Rochester & Pittsburg. Little Rock Junction .........•.••••. Missouri Pacific. Little Rock & Fort Smith ............ Missouri Pacific. Logansport Crawfordsville & 8. W. Terre Haute & Logansport. Long Branch & Sea Shore ........... Central New Jersey. Long Dock Company ................ New York Lake Erie &Western. Long Island City & Flushing ........ Long Island. Louisiana & Missouri River .. .. .. ... Chicago & Alton. Louisville Cincinnati & Lexington . . Louisville & Nashville. Louisville Hardinsburg&Western .. Louisville St. Louis & Texas. Louisville & St. Louis .. . .........•... Chicago Peoria & St. Louis. Lowell & Lawrence ... . ...........•.. Boston & Lowell. Macon & Augusta .......... . ........ Georgia RR: & Banking Co. Mahoning Coal. ...................... Lake Shore & Michigan Southern. ManitobaSouthwest'n Colonization. Canadian Pacific. Marietta Columbus & Northern ..... Toledo & Ohio Central Extension. Marietta Mineral. ................... Toledo & Ohio Central Extension. Maple River ......... . ..... . .......... Chicago & Northwestern. Marquette Hougton & Ontonagon ... Duluth South Shore & Atlantic. Marquette & Western .....•..•....... Duluth South Shore & Atlantic. Maryland Central. ..........•....... Baltimore & Lehigh. Massachusetts Central. .......•.•... Central Massachusetts. Massawippi . . ................•....... Connecticut & Passumpsic. Maysville & Lexington .............. Kentucky Central. McKeesport & Bellevernon ..... . ... Pittsb.McKeesport &Youghiogheny Memphis Clarksville & Louisville ... Louisville & Nashville. Memphis Kansas & Colorado ........ Kansas City Fort Scott & Memphis Memphis & Ohio ..................•.. Louisville & Nashville. Memphis Paducah & Northern ...... Chesapeake Ohio & Southwestern. Menominee River .................... Chicago & Northwestern. Metropolitan Elevated . ............. Manhattan Elevated. Michigan Air Line ................... Michigan Central. Michigan & Ohio . .................... Cincinnati Jackson & Mackinaw. Midland of New Jersey ... . ..•...•. ..New York Susquehanna & Western. Milwaukee & Madison ............... Chicago & Northwestern. Milwaukee & Northern ............. . Chicago Milwaukee & St. Paul. Minneapolis & Duluth ............... Minneapolis & St. Louis. Minneapolis & Pacific .. .. ........... Minneap. St. P. & Sault Ste. Marie. Minneap. Sault Ste. Marie & Atl'tic.Minneap. St. P. & Sault Ste. Marie. Minneapolis Union ................... St. Paul Minneapolis & Manitoba. Minnesota Central. ................. . Chicago Milwaukee & St. Paul. Minnesota & Northwestern..... . ... . Chicago St. Paul & Kansas City. Minnesota St. Croix & Wisconsin ... Wisconsin Central Company. Minnesota Valley . ... . ............... Chicago & Northwestern. Missisq_uoi Valley .. .............. . ... Central Vermont. Mississippi River Bridge ........ 1... Chicago & Alton. Mississtppi & Tennessee . ............ Illinois Central. Missouri Valley & Blair RR. Bridge.Chicago & Northwestern. Missouri & Western .. . .. . .. . ......... St. Louis & San Francisco. Monongahela River ................ . . Baltimore & Ohio. Montana Central. . . . ................. St. Paul Minneapolis & Manitoba. Muskegon Grand Rapids & Indiana.Grand Rapids & Indiana. Nashua & Lowell .................... Boston & Lowell. Nashua & Rochester . ................ Worcester Nashua & Rochester. Natchez Jackson & Columbus ....... Louisville New Orleans & Texas. Nebraska .... .. .. . .................... Chicago Burlington & Quincy. Nebraska& Western ................ . Pacific Short Line. New Bedford R ailroad ....... . ....... Old Colony. Newburg & New York ...... . ........ New York Lake Erie & Western. New Castle & Shenango Valley ...... New York Pennsylvania & Ohio. New England Equipment ............ New York & New England. New Jersey Midland ................. New York Susquehanna & Western. New Jersey Southern . .... .. ......... Central of New Jersey. New Mexico & Southern Pacific .. . .. Atchison Topeka & Santa Fe. New Orleans & Gulf ...... . ........... New Orleans & Southern. New Orleans & Mobile .............. ·. Louisville & Nashville. New Orleans Pacific ... . ..•....•..••. Texas & Pacific. Newport & Richford .........•..•.... Connecticut & Passumpsic. Newtown & Flushing .............••. Long Island. New York Elevated .......• . ........• Manhattan Elevated. New York & Erie .. . ................. New York Lake Erie & Western. New York & Long Branch.......•... Central of New Jersey. New York & Manhattan Beach ...••. N. Y. Brooklyn & Manhat. Beach. New York & Oswego Midland . ...•.. New York Ontario & Western. New York & Rockaway .............. Long Island. N. Y. Woodhaven& Rockaway ..•••• New York &Rockaway Beach. Niles & New Lisbon ..•.... . ••...•.••. Cleveland & Mahoning Valley. Nodaway Valley . .................... Kan. City St. Jos. & Council Bluffs. Norfolk & Petersburg...•..........•• Norfolk & Western. Norfolk Southern .........•.•..•.•... Norfolk & Southern. Northern Illinois ..................... Chicago & Northwestern. N ortb Missouri. . . . ......•..••...•..•. Wabash. North Shore..... . .........•.•••...•.• Canadian Pacific. North Wisconsin .. ................... Chic. St. Paul Minn. & Omaha. Northern Pacific & Montana ..•..... Northern Pacific. Northwest & Florida . ... . ........... Alabama Midland. Northwestern Grand Trunk . ........ Chicago & Grand Trunk. Northwestern North Carolina ..... . . Richmond & Danville. Northwestern Union ................. Chicago & Northwestern. Northwest Virginia ......•....... •... Baltimore & Ohio. Ocean Steamship ..............•...•. Cent. RR. &Banking Co. of Georgia Ohio Central.. ....... .. . ... . ......... Toledo & Ohio Central. Ohio Indiana & Western .....•...•... Peoria & Eastern. O~o & Northw:es~ern .. .......•...... Cincinnati Portsmouth & Virginia. -Ohio & West Virginia ..........•...•. Col. Hocking Valley & Toledo. Omaha & Southwestern . .•.. . •. . .•. . Chicago Burlington & Quincy. -Ontario & Quebec . ....... . ... .. •..... Canadian Pacific. -Orange & Alexandria ................ Virginia Midland. Oregon Short Line . ....... . .......... Oregon Short Line & Utah Northern. -Ottawa Oswego & Fox River..... . .. Chicago Burlington & Quincy. -0 ttumwa Cedar Falls & St. Paul .... Chicago & Northwestern. -Oxford & Clarksville ................. Richmond & Danville. Pacific Coast .. •.. ......•.......... ... Oregon Improvement Co. .Pacific of Missouri. . ................. Missouri Pacific. Paducah & Elizabethtown .......... Chesapeake Ohio & Southwestern. .Pa~s & Decatur . . .. . ........•.. . .... Terre Haute & Peoria. Pekin Lincoln.& Decatur .. .......... Peoria Decatur & Evansville. Peninsular (Mich) . ............••... .. Chicago & Northwestern. Pennsylvania & N. Y. Canal.. ...... Lehigh Valley. Penokee . .. . ........ . ............•••.. Wisconsin Central. Peoria Pekin & Jacksonville ........ Wabash. J>hiladelphia Marlton & Medford . .. Camden & Atlantic. .Pittsburg Cincinnati & St. Louis .... Pitts. Cinn. Chic. & St. Louis. Pittsburg~ State Line . .............. Buffalo Rochester & Pittsburg. P~asant Hill & De Soto .....•....•. . Kansas City Clinton & Springfield Port Huron & Northwestern .... . ... Flint & Pere Marquette. · .Portland & Kennebec ................ Maine Central. Portsmouth Great Falls & Conway .Boston & Maine. l'otomac Valley . . ..... . .............. Western Maryland. Poughkeepsie & Connecticut . ....... Central New England & Western. Prairie du Chien . .... . ... . ........... Chicago Milwaukee & St. Paul. Pueblo & Arkansas Valley .......... Atchison Topeka & Santa Fe. Q.uincy Alton & St. Louis .•••••••••. Chicas.:o Burlington & Quincy. • Qn!ooy & Palmyra . . ••..••.•••••••••• Hanmbal & St. Joseph. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SUPPLEMENT. NAME. WILL BE P'OUIID UNDER- Ravenswood Spencer & Glenville .. Ohio River. Republican Valley ................... Chicago Burlington & Quincy. Rhode Island & Massachusetts ...... New York & New England. Rich Hill ..................•.......... Kansas City Fort Scott & Memphw. Richmond & Alleghany ............. Chesapeake & Ohio. Richmond York River & Chesapeake. Richmond & Danville. Rochester Hornellsville & Lacka.... Lackawanna & Southwestern. Rochester & Pittsburg . ..•.....••.••. Buffalo Rochester & Pittsburg. Rome & Carrollton ................... Chattanoo.ira Rome & Columbus. Sacramento & Placerville ........... Northern California. Saginaw & Western .................. Detroit Lansing & Northern. St. Joseph & Iowa .... . ....•....•..... Chicago Rock rsland & Pacifl.o. St. Joseph & Pacific ........•...•.•.. St. Joseph & Grand Island. St. Joseph & Western ........ . ....... St. Joseph & Grand Island. St. Lawrence & Ottawa .. ............ Canadian Pacific. St. Louis Arkansas & Texas ......... St. Louis Southwestern. St. Louis Brid~e & Tunnel. ... .. ..... Terminal Association of St. Louis St. Louis & Chicago .................. North & South RR. of Illinois. St. Louis Council lJluffs & Omaha... Wabash. St. Louis Iron Mount'n & Southern.. Missouri Pacific System. St. Louis Jacksonville & Chicago . ... Chicago & Alton. St. Louis Kansas City & Northern... Wabash. St. L. Kan. & Southw .. Atch. System .St. Louis _& San Francisco. St. Louis & Lexington................ Missouri Pacific. St. L. Salem & Ark .. Atch. System .. St. Louis & San Francisco. St. Louis Salem & Little Rock ....••. (St. L. Salem & Ark.) St. L. & 8. Fran. St. Louis & San Francisco ........... See Atchison" System." St. Louis & Southeastern..... . ....... Louisville & Nashville. St. Louis Southern..................•. St. Louis Alton & Terre Haute. St. L. Wichita&West .. Atch. System.St. Louis & San Francisco. St. Paul & Chtcago ................... Chicago Milwaukee & St. Paul. St. Paul Eastern Grand Trunk ...••. Milwaukee Lake Shore & Western. St. Paul & Pacific . . . . ..........•..... St. Paul Minneapolis & Manitoba.. St. Paul & Sioux City ................ Chic. St. Paul Minn. & Omaha. St. Paul Stillwater & T. F .......••• . Chic. St. Paul Minn. & Omaha. Sandusky Dayton & Cincinnati. ..•. Cincinnati Sandusky & Cleveland San Joaquin Valley .................. Central Pacific. San Pablo & Tulare .................• Northern (California). Sault St. Marie & Southwestern..... Chic. St. P. Minneapolis & Omaha. Savannah Albany & Gulf ............ Savannah Florida & Western. Savannah & Charleston.......... . .. . Charleston & Savannah. Schenectady & Duanesburg ......... Delaware & Hudson. Schuylkill River East Side........... Baltimore & Ohio. Scioto Valley ............ .. ........... Norfolk & Western. Scioto Valley & New England ....... Norfolk & Western. Seattle & Northern................... Oregon Improvement. Seattle Valley & Southern........... Missouri Pacific. Shawnee & Muskingum RR . ..•.... . Columbus Shawnee & Hocking. Sheffield & Birmingham.....••....... Birmingham Sheffield & Tenn.River. Shenandoah Valley .................. Norfolk & Western. Short Creek & J o:plin ........ . ....... Kansas City Fort Scott & Memphis. Sioux City & Pacific ................. Chicago & Northwestern. Slatington & New England . ....... . Pennsyl'a Poughkeepsie & Boston. Smithtown & Port Jefferson .... . .... Long Island. Sodus Bay & Southern ........... .. .. Elmira & Lake Ontario. Sonora ....... . ........ . ............... Atchison Topeka & Santa Fe. South Georgia & Florida......... . ... Savannah Florida & Western. South Pacific (Mo.) ....... . ........... St. Louis & San Francisco. South Side (Va.) ...................... Norfolk & Western. Southeastern & St. Louis ..... . ..... . Louisville & Nashville. Southern Georgia & Florida ......... Savannah Florida & Westen. Southern Kansas .......... . ......... Atchison Topeka & Santa Fe. Southern Kansas in Texas ........... Atchison Topeka & Santa Fe. Southern Kansas & Western ........ Atchison Topeka & Santa Fe. Southern Minnesota ...........• . .... Chicago Milwaukee & St. Paul. Southern Pacific Branch ..........•.. Southern Pacific of California. Southern Pennsylvania .............. Cumberland Valley. Sturgis Goshe~ & St. Louis . ......... Lake Shore & Michf.itB~ A<nt~tWD. Sugar Retlneries . ........... . ........ American Sugar ~ y . Spartanburg & Asheville ........•... Asheville & S.J?artansburg. Spokane & Palouse .................. Northern Pacific. Sterling Mountain RR ...........•... Sterling Iron & R'y Co. (see Mlscel's) Steubenville & Indiana .............. Pittsburg Cinn. Chic. & St. Louis. Stockton & Copperopolis ....••.•.... Southern Pacific of California. Sugar Trust ...... . ............ . ...... American Sugar Refining. Sunbury & Erie . ...................•. Philadelphia & Erie. Syracuse Northern ...............•••. Rome Watertown & Ogdensburg. T aylor's Falls & Lake Superior ..... Bt. Paul & Duluth. Tarkio Valley . .................••.... Kan. City St. Jos. & Council Bluffs Tavares Orlando & Gulf ............ Florida Central & Peninsula. Tebo & Neosho .........•....••.•...•. Missouri Kansas & Texas. Terre Haute & Southeastern ......•. Evansville & Indianapolis. Texas Mexican ................ . ...... Mexican National Toledo Ann Arbor & Cadillac ....... Toledo Ann Arbor & North Mich. Toledo Ann Arbor & Grand Trunk .. Toledo Ann Arbor & North Mich. Toledo Ann Arbor & Lake Michigan. Toledo Ann Arbor & North Mich. Toledo Ann Arbor &Mt. Pleasant .. Toledo Ann Arbor & North Mich. Toledo Belt . ...............•.......... Wheeling & Lake Erie. Toledo Cincinnati & St. Louis . . .•. . . Toledo St. Louis & Kansas City. Toronto Grey & Bruce . ........... . .. Canadian Pacific. Troy & Boston ....................... Fitchburg. Tunnel RR. of St. Louis ...•.......•. Terminal Ass'n of St. Lol:lis (Misool. Union . .. . . ........... . ............... Northern Central. Union Railway of Chattanooga ..••. Chattanooga Union. Union Elevated ...... . ............... BrooklynElevated. Union & Logansport ................ Pittsburg Cincin. Chica.go & St. L. Upper Coos ...... . ..... . ... . .......... Maine Central. Utah Northern ....................... Oregon Short Line & Utah North'n. Utah Southern .. ..................... Oregon Short Line & Utah North'IL. Utica & Black River ................. Rome Watertown & Ogdensburg. Venice & Carondelet ................ Louisville Evansville & St. Louis. Verdigris Val. Independ'ce & West . . Missouri Pacific. Vernon Greensbur~ & Rushville .... Cincin. Indianap. St. L. & Chic~o. Vicksburg & Meridian ............... Alabama & Vicksburg. Virginia & Tennessee ...... . ... . ..... Norfolk & Western. Waco &Northwestern .........•.•.. . Houston & Texas Central. Wabash Western ...............•..•• . Wabash. Warren & Franklin .... . ............. Western New York & Pennsylvania Warwick Valley . .. . ... . ..........•... Lehi~h & Hudson River. Washington City Va. Mid. & Gt. So. Virgmia Midland. Washington Ohio & Western ........ Richmond & Danville. Watertown & Rome .......... . .•..•.. Rome Watertown & Ogdensburg. Waynesburg & Canton .............. . Cleveland & Canton. Western Maryland Tidewater ....• ~. Wes tern Maryland. Western Minnesota ................•. St. Paul & Northern Pacific. Western Pacific . .................. . .. Central Pacific. Western Union RR ................ ... Chicago Milwaukee & St. Paul. West Wisconsin .............. ••.. ~ ... Chic. St. Paul Minneap. & Omn.11~ Wichita & Southwestern .....•....... Atchison Topeka & Santa Fe. Wichita & Western ................... Atchison Topeka & Santa Fe. Winona & St. Peter ....... •........... Chicago & NorthweJtern. Wisconsin & Minnesota . ........... ..Wisconsin Central Company. Wisconsin Minnesota. & Pacific... . .. Minneapolis & St. Louis. Wisconsin Valley ..................... Chicago Milwaukee & St. Paul. York & Peach Bottom ............... Baltimore & Lehigh. · Zanesville Terminal.. ............... coiumbus Shawnee & Hocking • STOCK AND BOND TABLES. NOTES. These ia.blell a.re expressly intended to be used in connection with the information concerning investment matters published .trom week to week in the CJi{RONICLE. At the conclusion .of the statement for each company, therefore, is furnished a. complete index of all items pertaining to that company published in the CHRONICLE within the last eighteen months. Annual reports are in black-faced figures. In case any company ea.nnot be found in its regular alphabetical order (the railroads being arranged together first, and miscellaneoui:t eompa.nies following), reference should be made to the index on a preceding page, as many roads having been leased or consolidated, their 1ecurities are placed under the name of the controlling company. · The dividends appearing in the remarks are those actually pa.id in the course of the calendar year named, or such as have been declared! and will be paid in it. In many instances these dividends are paid in part out of the earnings of the preceding year, and hence it is th31, ihey often differ from the dividends given in connection with the earnings. · The following will give explanations of each of the columns of the tables below: .Dueription.-.A.bbreviations used are: M. for "mortgage;" gen. M. for" general mortgage;" con. M. or consol. M. for "consolidated mortgage;" inc. M. for "income mortgage; " g. for "gold;" gua.r. for " guaranteed; " cum. for "cumulati vo; " non-cum. for "non-cumula._ tive;" conv. for "convertible; " pref. for "preferred; " s. f. for "sinking fund; " 1. gr. for " land grant;" r. for "registered; " c. for "coupon;" c.* for" coupon but may be registered as to principal;" c. & r. for "coupon and registered;" br. for" branch;" end. fo.r "endorsed•;" "red." for redeemable, meaning subject to call before maturity (SQ "red. at 100" means subject to call at par); "d'rn or "drawn" for drawn by lot from time to time and paid from the sinking fund. Date of Bonds.-The date of issue on the face of the bonds is referred to in this column. Jfilu of Road.-Opposite stocks, this means the miles of road owned; opposite bonds, the miles covered by the mortgage. 6ize or Par Value.-These fl.gure:;i, unless otherwise marked, are dollars, showing the denominations or par value. The figures "100, &c.," signify $100 and larger. Bate Per Oent.-The interest per annum is given for bonds, but the per cent of last clivulend for stocks; g. means gold; x, extra; s. stock or scrip. lf'hen Payable.-J. & J. stands for January and July; F. & .A.., February and August; M. & S., March and September; A. & 0., April and October ;: M. & N., May and November; J. & D., June and December; Q.-J., quarterly from January; Q.-F., quarterly from. February; Q.-M~ quarterly from March. Bonds,principal when due; Stocks, last dividend.-The date in this column shows the period when the principal falls due of bonds, but the time when the last dividend was paid on stocks. Subscribers -will confer a great Cavor by giving iinmediate notice oC any error discovered in these •.rabies. RAILROADS. Miles Date s1·ze, or INTEREST DIVIDENDS. .Bonds-Princi Amount ___ _ _ _ _ _OR __ _ _ _ __:_____ 1pal,WhenDue For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where- Payable, and by Sto~k.s-Last above. Road. Bonds Value. Cent. Payable Whom. D1v1dend. - - - - - - - - -· .Alabama Great Southern-1st mortgage, gold ... .. c Gen. M. sterl. £1,160,000, red. at 110 June 1, '98 .c Debentures, gold................................... Certificates (issued by Eno-lish Co.) sinking fund .. Ala. Midland-lstM.,guar. l>y Sav. Fla.&W.,gold.c 1st M., gold, Sprague to Luverne, $15,000 p. m . . c* Ala. N. O. Tex. d!: Pac. Junc.-"A" deb., see rem'ks.c* "B" deben., inc.,redeemable after 1910 at 115.c* "C" debentures, income, sub,ject to call at 100 .... .Alabama d!: Vicksburg-Stock ........................ Vicksburg & Mer. 1st mort., stamped. See rem ... Consolida~ed 1st mortgage, gold ($1,800 000) .... 2d mort., me. for 5 years, non-cum., g. ($700,000) .Albany d!: Susq.-Stock, 7 p. c. rental D. & H. Canal.. .Albany City loan (sinking fund, 1 per ct. yearly).c Consol. M. ~ar. D. & H. endorsed on bonds) .. c*&r .J..llegheny d!: inzua-lst M., for$500,000,J:old .. c* .Allegheny Valley-General mortgage (Riv. iv.ii_c* 1st mort., Eastern Exten., guar. by Penn. R .. c 2d mort.,Eastern ext., to State Pa................ r Funding income bonds, with traffic guarantee ... c . 290 290 175 34 143 143 143 143 142 142 42 132 110 110 259 1878 $1,000 1888 £100 1886 £100 1888 Various. 1888 $1,000 1890 1,000 1890 £100 1890 £100 1890 £100 100 1881 1,000 1889 100 &c. 1889 100 &c. 100 1865 1,000 1876 1,000 1890 1,000 1866 1,000 1870 1,000 1870 100,000 1874 100 &c. Alabama Great Southern.-( See Map East Tennessee Virginia d!: Georgia).-Owns Wauhatchie, Tenn., to Meridian, Miss., 290 miles·; leases Wauhatchie to Chattanooga, 5 miles; total opera..ted, 295 miles. The Alabama &Cb.attanoo~a Railroad made default January 1, 1871, and road was sold under roreclosure January 22, 1877. Present company organized Nov. 30, 1877. It is controlled by an English company of the same title, which owns all the stock of the American company, and ts itself controlled by the East Tennessee Virginia & Geor!rla Railroad Company. The English company has £134,000 debenfures exchangeable for general mortgage bonds and capital stock-common (" B" shares), £1,566,000, and preferred 6 per cent cumulative for six years(" A" shares), £676,070-par £10, of which in April, 1890, ihe East Tennessee Virginia. & Georgia purchased £340,000 "A" shares and £783,010 "B" shares (pledged to secure its Cincinnati Extension bonds). Bee V. 50, p. 560. The English and American companies own jointly $1,000,000 Cincinnati New Orleans & Texas Pacific Railway Co. stock. Dividends on ".A." assenting shares for period since December 31, 1887 (&t which date unpaid dividends from December 1, 1885, to January 1, 1888, were funded on all except £11,500 non-assenting shares) have been: In 1889, 6 per •ent; in 1890, 9 ; in 1891, 6 per cent. On Class "B" l½percentwas pa.id November, 1801. Enough of the general mortgage bonds are reserved to retire the 1st 6s of 1908. Car trust June, 1891, $115,789; Certificates for funded arrears of dividend, $398,204. · From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $828,693, against $853,203 in 1890; net, $207,960 against $252,401. FiscaJ year ends June 30. The report for 1890-91 in V. 53, p. 639, showed gross earnings of. $1,942,981; net, $580,750; total net income, $621,271; interest, $225,819; other charges, (1) ; dividends, $96,107. In 1889-90 gross earnings were $1,957,365; net over expenses and taxes, $628,988.-(V. 51, p. 612; V. 53, p. 324, 639.) AlabaD1a 1'Iidland.-Completed in February, 1890, from Bainbridge, Ga., on the Savannah Florida & Western, northwesterlv to a connection with the Louisville & Nashville at Montgomery, .A.la., about 175 miles; branch, Sprague Junction to Luverne, 34 miles; t-Otal owned, 209 miles. In July, 1890, the Plant Investment Company, owners of the Savannah Florida. & Western, purchased control, and road became part of that system. See V. 51, p. 50. Interest on the 1st mort~age of 1888 was guaranteed till November 1, 1892, by the Construction Company (the Alabama Terminal & Improvement Company). Interest due May 1, 1891, however, was not pa.id, and in August, 1891, it was proposed to pay 6 per cent interest till November 1, 1892,and then to soale the interest to 5 per cent, stamping the bonds principal and interest guaranteed by the Savannah Florida. & Western. Most of the bondholders assented. Gross earnin~s from July 1 to August 31, 1891, (2 months), were $78,766, against $07,910 in 1890. Btock-Common, $2,625,000, and preferred, 6 per cent non-cumulative, $1,600,000 (par ~100) ; of which the Plant Investment Company owns $2,425,000 common and $1,200,000 pref.erred. (V. 51 p. 50; V. 52, p. 680, 898; v. 53, p. 186, 256, 368.) AlabaDla Ne-w Orleans Texas & Pacific Junction (Lllll• Ited.)-This is an English company controlling the .Alabama & Vicksl urg, 142 miles; Vicksburg Shreveport & Paci.fl.c, 189 miles; New https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 g. J. & J. N.Y.,Farm.L.&Tr.& Bos Jan. 1, 1908 $1,750,000 £:l76,000 5 g. J. & D. London,Comp'y's office. Dec. 1. 1927 £134,000 Aug. 15, 1903 do do ~ g. F. & A. £81,935 By smk'gfund do do $2,800,000 5 g. M."&.N. N.Y.,Met'politan Tr.Co. Nov. 1, 1928: 500,000 6 g. J. & D. Dec. 1, 1929' £748,850 5 g. M.&N. N ov.1,1910-40 1,048,390 See remarks. M.&N. Nov.1,1910-40 g. Nov. 1, 1940 810,700 See remarks . A. & O. $700,000 Nov.10, 1891 Cincinnati, Office. 3 1,000,000 A. & 0. N. Y., Central Trust Co. Apr. 1, 1921 6 5 g. A. & 0. Apr. 1, 1921 466,800 do clo 700,000 5 g. .A.. & 0. Apr. 1, 1921 do do 3,500,000 312 J . & J. N.Y.,Del.&Hud.Can.Co. Jan. 2, 1892' 1,000,000 do M.&N. 1895-1897 6 do 10,000,000 6g. &7 A. & O. April 1, 1906do do 5 g. F. & A . N. Y. Central Trust Co. See remarks. 285,000 4,000,000 7·30 J. & J. N.Y.,Phila. &Pittsburg. Mell. 1, 189610,000,000 A. & 0. Phil., Pa. RR. Co. &Lon. April 1, 1910, 7 2,200,000 J. & J. July 18, 1.887, last paid. 100,000 y'rly. 5 9,728,500 A. & 0. April, 1884, la.st paid. Oct. 1, 18947 g ··see i-einar1rs: ·· Orleans & North Eastern, 195 miles; and Spanish Fort Railway, nearNew Orleans, 13 miles. In November, 1887, a receiver was appointed and in October, 1890, a plan of reorganization was brought out, under which the new debentures were issued in 1891. See details V. 51, p. 537. The preferred or "A" shares are £1,500,000, having a preference f.or6 per cent, cumulative, and the deferred or "B" shares £2,500,000; par value of all shares £10 each. Until Nov. 1, 1895, the "A" debentures are entitled to receive interest only if earned, but unpaid interest is cumulativ.e. They, as also the "B" debentures, are redeemable at the option of the company after Nov. 1, 1910, at 115. The "B" and "C" debentures are both incomes for their full term, receiving interest only if earned, and are a second and third charge on earnings respectively. The "C" debentures are subject to call at a:ny time at par, on six months' notice. The company holds the following securities, viz.: or Alabama & Vicksburg $30,000 1st mortgage, $144,000 consols, $388,· 000 2d mortgage incomes and $388,000 stock; of Vicksburg Shreveport & Pacific, $3,692,000 1st mortgage, $1,931,000 incomes and $1 594,000 stock; of New Orleans & North Eastern, $4,900,000 1st mortgage and $4,320,000 stock; of New Orleans Spanish Fort & Lake RR., $300,000 first mortga~e and $200,000 common stock ; of Cincinnatii Southern, $532,000 SliOCk. (V. 50, p.560; v. 51, p. 537.) Alabaina & Vicksburg.-Owns Vicksburg to Meridian, Miss., and branch, 143 miles. It is mainly owned and controlled by the Alabama. New Orleans Texas & Pacific Junction Co. The Vicksburg & Meridian road was sold February 4, 1889 (see V. 48, p. 190), and reorganized as Alabama & Vicksburg. Of the new consolidated bonds, $1,000,000 ar& reserved for the Vicksburg & Meridian lsts; interest is paid only on such of the V. & M. bonds as were stamped under the reorganization plan. The new seconds are income (non-cumulative as to earnings) for five years, and are a first lien on the Vicksburg & Meridian lands(124,869 acres), interest being payable from the sales of such lands;. when interest is paid from earnings these land sales will constitute a. sinking fund for the second mortgage bonds .. Trustees of mortga~e_... Central Trust Co. of N. Y. All coupons on the mcomes have been paia to April 1, 1891. Stock; $700,000; par, $100. Car trusts, $21,000. First dividend (3 per cent) was paid No,ember, 1890; second, November, 1891, 3 per cent. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnin"'s were$313,127, against $282,918 in 1890; net, $84,000, against $77,425. In year ending June 30, 1891, gross earnings were $648,400; net, $149,129; interest, $117,215; surplus, $32,689. In 1889-90 gross, $676,662; net, $178,714; surplus over charges, $63,368. (V. 48, p. 209; V. 51, p. 303; V. 53, p. 289, 712.) Albany & Susquehanna.-( See Map Delaware <i Hudson Oanal.)Owns Albany, N. Y., ·t o Binghamton, N. Y., 142 miles; branches, Dua.nes- burg Junction, N. Y., to Schenectady, 14 miles; Cobleskill, N. Y., toCherry Valley, 21 miles; operates Lackawanna & Susquehanna RR., 22:: miles; East Glenville to Coons, 10 miles; total operated, 209 miles .. Leased for 150 years from February, 1870, to Delaware & Hudson Canal Co., which owns $450,000 stock; rental, 7 per cent on stock. .Additions and betterments charged to lessors, and cost made part:_;--oe RAILROAD STOCKS JANUARY, 18~2.} AND BONlJS. Subscribers ·will confer a great favor by giving Immediate notice of any error discovered In these Tables. Bonds-PrinclRAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or When Due. A.mount Rate per When Where Payable and by pal, For explanation of column headings, &c., see notes of of Par Stocks-Last Road. Bonds Value. Outstanding Cent. Payable on first page of tables. Whom. Dividend. ---- - - - Allentown Terminal RR.-lst mort{age, guar .... c* Arcadia, <htlf, Ooast, Lakel'd-Stoc s ($1,500,000). Asheville cf: Spm·tanburg-lst mortgage, gold ...... c 2d mortgage, gold ................................ c Atch~son Ool. cf: Pacific,-lst M. ($16,000 p. m.) ~·. c* Atchison Jewell Oo. cf: West.-lst M., guar. C. B. . P.c Atchison Topeka & Santa Fe-Stock .................. 3 66 254 34 Guarantee fund notes (ext'ded in 1891) red.atlOO 47i Chicago & St. Louis 1st mort. ($10,000permile). 143 Other prior mortgages (See remarks) ............ . New ~eneral mortgage, gold .................. c*&r 6,ifi9 New me. M. non-cum., g., red. atpar..... ... .. c*&r 6,619 Equipment Trust bonds, gold ...................... .... Atchison System.-Atlantic cf: Pacific.- Guar. trust mort5~e gold, (redeemable at 105) . c* West. Division2 . guar.yJ- (s. f. drawnat105).c* Inc. bonds, non-cum., W. . ($1~750p.m.) .. c*&r Central Div., 1st land grant mo ., cumulat .... c" Income bonds, non-cum. ($18,750 per mile) .. c* Atc.hison System-Oolorado Midland* 1st mortgage, gold ($25,000 per mile) ........... c Consol. mortgage for $6,000,000, gold, guar .... c* Equip. bonds, s. f., drawn at 105 ............... c• E~p. bonds,Ser. B., s.f.,dr'nat105after1894.c. Co ateral trust notes .............................. Busk Tunnel R'y 1st M., gold, guar., red. at 105 .. Atchison S11stem-St. Louis & San .Francisco- 1st preferred, 7 per cent, not cumulative ......... 2d mort. (now 1st), A, gold} (Pacific to Seneca,c• Series B, gold............ Mo.,& branches, c• Series C, gold . . . . . . . . . . . . 294 miles. c• 1889 $1,000 $450,000 100 500,000 1,000 500,000 1,000 1887 500,000 1879 1,000 4,070,000 1879 · 1,000 542,000 100 101,492,747 isss 5,000 7,000,000 1885 1,000 1,500,000 .... 1,720,315 1889 5oo··&c. 130,324,000 1889 500 &c. 79,114,985 1892 .. ..... 2,500,000 .... ··-66 1885 ···4:g. New York. J. & J. A. ·&··o . N. Y.,Fourtii Nat. Bank. do do J. & J. Q.-F. N.Y.U.P.Of.& Un.Tr.Co. Q.-F. N.Y.U.P.Of.&Un.Tr.Co. Q.-F. N. Y., Boston & Cbica50. M.&N. Bostn, Kidde}:, Peabo y. M. & S. N.Y., Farm's . &Tr. Co. ...... .. ........... July 1, 1919 ·i; Aprii 1925 July 1, 1937 May 1, 1905 May 1, 1905 Nov. 15,1888 Nov. 1, 1893 Mch. 1, 1915 J. & J. } N. Y. Union Trust, } Juiy · 1,· "i989 July 1, 1989 5 g. Sept. 1. Boston and London. 5 g. J. & J. New York and London. y'rly till 1902 .... ---· ---· 1,000 18,727,000 1887 1,000 See remarks 1887 1880 50 &c. 12,000,000 1871 500 &c. 796,629 1882 1,000 1,823,000 4 g. J. & J. N. Y., Mercantile Tr. Co. Jan. 1, 1937 6 g. M.& S. do do Sept. 1, 1907. A. & 0. Oct. 1, 1910 6 -·--······ At Mat. ............ Nov., 1901 6 .......... June 1, 1922 6 J. & D. 252 267 1886 1890 ---- 1890 1889 1890 6 4 7 6 7 7 672 560 1,000 1,000 1,000 1,000 1,000 6,250,000 4,502,000 450,000 185,000 300,000 550,000 100 100 &c. 1876 500 &c. 1876 500 &c. 500,000 2,766,500 2,400,000 .... 1888 ---.... ...... --·· 294 1876 294 294 investment. Tbe consolidated mortgage is for $10,000,000, of which $3,000,000 are 7 per cents, currency; the principal of the 6s is also payable in "lawful money," but the interest in gold. In year ending June 30, 1891, gross earnings were $3,790,162, against $3,-808,911 in 1889-90; net1 $1,533,574, against $1,666,188; surplus over charges, $396,306, agamst $543,327.-(V. 50, p. 707; V. 51, p. 207, 681; v. 52,280,762; v. 53, p. 224.) Allegheny&: Klnzua.-Line of road projected 70 miles, of which 4'2 miles between Bradford, Pa., and Corydon, Pa., and between Red House, N. Y ., and Gilbert, Pa., &c., are in operation, and the balance under construction. The mortgage was further to be secured by 30,000 acres of timber land accessible to the railroad, this to be increased to 46,000 acres when the road is completed. In July, 1891, it was claimed by one of the bondholders that,contrary to agreement, these lands were not unencumbered and were not timber lands, and a suit was therefore brouo-ht to enforce fulfilment of the contract. Tbe bonds mature $15,000 yearly on November 1, beginning with 1890, the lowest consecutive numbers outstanding being those paid in each year. Stock, $500,000-par $100. Allegheny Valley.-Owns from Pittsburg to Oil City, Pa., 132 miles; branches-Red Bank, Pa., to Driftwood, 110 miles; others, 17 miles; total operated, 259 miles. Stock, $2,166,500; par, $50. Of the income bonds the Pennsylvania RR., the Northern Central and the Philadelphia & Erie bold $6,087,000. No interest has been paid on the incomes since April, 1884. The coupons of guaranteed bonds held by the Pennsylvania RR. for advances amount to $6,457,780. The Pennsylvania RR. owns also $1,251,050 stock and $5,510,000 income bonds, In May, 1884, receivers were appointed, Pennsylvania and other railroads bein[_plaintiffs. On December 15, 1891, the sale of the road took place, and .t'. A. B. Widener was the purchaser for $3,000,000, subject to the lien of the mortgages. Tbe plan of reorganization was published in the CHRONICLE of October 10, 1891. See V. 53, p. 324, 368, 520. From January 1 to Nov. 30 in 1891 (11 months) gross earnings were $2,345,236, against $2,385,787 in 1890; net, $974,678, . against $1,055,559. In 1890 gross, $2,592,101; net, $1,127,076; mterest, $1,102,000; real estate and new equipment, $114,287; rentals• etc., $6,469; deficit, $95,679. (V. 52, p, 795; V. 53, p. 324, 368, 520, 568, 921., Allentown Term.lnal.-Owns 3 miles of railroad in Allentown Pa., connecting the East Pennsylvania (Philadelphia & Reading) with the Central of New Jersey. Leased for 999 y-ears to Philadelphia & Readino- and Central of New Jersey (by assignment from Lehigh Coal & Navigation) at interest on bonds and 5 per cent on $450,000 stock (par $50), bonds being guaranteed, principal and interest, by Philadelphia & Reading and Lehigh Coal & Navigation.-(V. 50, p. 422.) Ashevllle &: Spartanburg.-(See Map Richmond~ West Point Terminal).-Owns from Spartanburg Junction, S. C., to Asheville JnnctionN. C., 66 miles. Sold in foreclosure April, 1881, and reorganizect. Controlled by Richmond & West Point Terminal, which owns $1,047,981 o:f the $1,050,000 s,;;ock, and $215,000 second mortga~e bonds, and has pledged them (ex:cept a few shares of stock) under its collateral trust of 1889. In 1890 gross earninga were $150,133, against $121,225 in 1889; net, $12,303, against d eficit of $2,941. Atchison Colorado & PacUic.-Owns Waterville, Kan., to Wash• lngton, Kan., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles; Logan to Lenora, Kan., 25 miles; Downs, Kan., to Ball City, Kan., 24 mifes; Yuma, Kan., to Warwick, Kan., 31 miles; total, 254 miles. The road forms an extension of the Central Branch Union Pacific, which leased it in 1879 for 25 years, and guaranteed the bonds. Controlled by Union Pacific, but operated by Missouri Pacific. Stock, $1,522,400 (par $100), of which Union Pacific and Central Branch own $920,300. Rental is $254,370 per annum. Atchison Jewell County&: Western.-Jamestown, Kan., to Burr Oak, Kan., 34 miles. Under same auspices and control as Atchison Colorado & Pacific. Stock, $202,800 (par $100), of which Central Branch Union Pacific owns $105,000. Rental is $34,000 rer annum. ■A..tchlson '.l'opeka &: Santa Fe.-( See Map--;:)-LINE OF .KOAD.The Atchison Topeka & Santa Fe leased and consolidated lines include the main line from Chicago, Ill., to Kansas City (458 miles), and thence to Denver, Col., 1,210 miles; also from La Junta, Col., via Albuquerque, N. M. (on tlle Atlantic & Pacific), to El Paso , Tex., 601 miles; branches in Kansas, etc., 2,771 miles; total, 4,582 miles. In addition there are the Gulf Colorado & Santa Fe Ry. (owned absolutely), running from Galveston, Tex., to PL1rcell, Ind. Ter., 518 miles, and branches 540 milea; the Sonora Ry., from Noo-ales to Guaymas, Mexico 262 miles; the New Mexico & Arizona, 88 miles; the Southern California Railway, 475 miles; the St. Louis Kansas City & Colorado RR., 61 miles. Roads owned jointly with other .railroad companies: Leavenworth Topeka & South Western 47 miles; Manhattan Alma & Burlingame, 57 miles; Wichita & Western, 125 miles; Atlantic & Pacific, 947 miles; total ownedjointly, 1,276 miles (of which 1,123 now wholly controlled). Total (includin;J 12 of mileage operated jointly), 7,114 miles. To the above in May, hs90, was added the St. Louis & San Francisco Railway (1,863 miles), and in October, 1890, the Colorado Midland (350 miles), making a grand total of 9,328 miles June 30, 1891. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 g. ..tfg. 6 g. 6 6 12 6 6 (1) g. g. g. g. g. g. J. & D. N. Y., Central Trust Co. F. & A. do do M. & S. N. Y., S. S. Sands & Co. J. & J. do do M.&N. do do J. & J. N. Y., Continental Tr. Co. F. & A. N. Y.,Baring,Maaoun&C 2 do o 6 g. M.&N. do do 6 g. M.&N. 6 g. M.&N. do do June Feb. Mch. Jan. May July 1, 1, 1, 1, 1, 1, 1936 1940 1898 1900 1892 1935 Feb. 10,1890 Nov. 1, 1906 Nov. 1, 1906 Nov. 1, 1906 In November, 1890, under a traffic arrangement with the Chicago Peoria & St. Louis, a through linQ between Chicago and St. Louis was opened. See V. 51, p. 608. ORGANIZATION, LEA.SES, &c.-The Atchison Topeka & Santa Fe Company was incorporated March 3, 1863. The main line of 471 miles was opened December 23, 1872. The whole system outside of this main line is nominally under different corporations, of which the ownership is vested in the Atchison and the roads leased to it. -HOCE In August, 1884, an ao-reement was made through the Atlantic & Pacific for the control of the Mojave Division of the Southern Pacific and a right for traftlc over the Southern Pacific to San Francisco. The Atlantic & Pacific first and second mortgage bonds are guaranteed one-half eacb, severally but not jointly, by the Atchison and San Francisco cos On October 15, 1889, the company issued its plan ot reorganization, which was simple but comprehensive. No assessment was made on the stock, and new bonds were authorized to _retire the existing indebtedness. The plan was succe'!sfully carried out, and of the $148,446,· 000 prior bonds immediawly treated only $1,720,315 remained. not deposited in June, 1891. See the plan in V. 49, p. 504, and article on pp. 483, 597; also particulars below. In May, 1890, control of the St. Louis & San Francisco Railway Company was acquired, $22,000,000 of Atchison stock being issued to purchase the San Francisco Company's $25,500,000 common and preferred stock. See V. 50, p. 734. Through the St. Louis & San Francisco full control of the Atlantic & Pacific is secured. The Chicao-o Elevated Terminal Railway Company was organized in August, 1890, to furnish to this road and other railroads a better means of entering Chicago. In December, 1891, the real estate of t.qe Atchison in Chica~o was contracted to b·e sold for $7,500,000 to this Elevated Terminal uo., which is in no way allied to the Atchison, but an entirely separate company. (See V. 53, p. 921; V. 51, p. 158.) In October, 1890, the entire capital stock of the Colorado Midland ($8,000,000) was purchased on terms equivalent to $1,600,000 in cash and $5,333,400 of Atchison stock. See V. 51, p. 608. STOCK AND BONDS.-Dividends have been-1n 1879, 3 per cent; 1n 1880, 812; in 1881, 6 cash and 50 stock; from 1882 to 1886, inclusive, 6 per cent; in 1887, 614; in 1888, 5 14; in 1889 and since, nil. Price of stock (in Boston till 1886 and afterwards in New York) wasin 1881, 92'@15414; in 1882, 78 7 s1.v961s; in 1883, 781.v86 14; in 1884, 591g @80; in 1885, 6314W8912; in 1886, 84 7 s1.v99~; in 1887, 903s1Hl8 7 s; in 1888, 533s1.v9912; in 1889, 26121.v58; in 1890\ 2312'@503s; in 1891, 245s1.v4712; in 1892, to Jan. 22, inclusive, 40 7 sW465g. In August, 1890, a dividend of 234 per cent was declared on the new incomes for the nine months ending June 30, 1890, and in July, 1891, 2 per cent was declared for the year ending June 30, 1891. Of the general mortgage 4 per cents, the authorized issue on present mileage is $150,000,000; of these there are reserved $17,676,000 for treatment of old bonds and guaranteed notes not directly_ treated in the reorganization plan, leaving a balance of $132,324,000 issued and to be issued. The bonds outstanding not directly treated in reorganization and against which $17,676,000 of 4s are reserved, are as follows: Atchison guaranteed fund notes, $7,000,000; Chicago & St. Louis, $1 500 000; St. Joseph St. Louis & Santa Fe first mort1>age bonds, $8'000'; the St. Joseph Terminal & Railroad.Company (Atcbison's half), $175 000; Atlantic & Pacific guaranteed 4 per cent bonds (Atchison's half): $8,802,000; Osage Carbon Co., $191,000; total $17,676,000. In October, 1891, the guarantee fund notes were extended for two years with 1 per cent bonus to holders. V. 53, p. 474. These notes are secured by a second mortgage of the Atchison main line in Kansas and the deposit of tl1e Chicago Santa Fe & California line and terminal stocks (in Chicago) with the Boston Safe D eposit & Trust Co., trustee. The general mortgage 4s and, subiect to these, the income 5s. are both secured by one ·indenture to the Union Trust Company of New York, Trustee, and cover the entire property of the company, all shares of stock owned or controlled (except sufficient to qualify directors), all bonds owned and pled .,.ed under trust deeds, and all securities deposited under tlle reorganization. The 4s may be issued to an amount not exceeding $150,000,000 on present property, to carry out the reorga~.ization plan, and additional amounts_ may be issu~d :3it $20,000 per mile for extensions or double track. The mcomes are lnmted to $80,000,000, are non-cumulative, and may be redeemed at ~ar on six months' notice. The claims of these bonds for payment of mterest in any fl.seal year ending June 30 depends on the "absc_>lute _discr etion" of ~he board of directors to decide what surplus earmnga, if any, are applicable to such interest. The Equipment Trust bonds were issued in London January, 1892. See V. 54, p. 158. . Abstracts of all the principal prior mort~ages of the Atchison Topeka & Santa Fe Railroad Company were publisnea in the CHRONICLE, V. 49, p 546·551 and of the new mortgages in V. 49, p. 857-861. ·OPERATIONS, FINANCES, &c.-The company receives $30,000 a month from the Sonora Railway subsidy, pa_yable ii!- Mex~can currency. . Payments beo-an in August, 1890, and will contmue till $1,681,400 m all bas been paid. See V. 5~, p. 49. . From July 1, 1891, to Nov. 30, 189_1 (5 months/, grgss earnmgs 'Y"ere $16,399,312, against $15,012,85~ m 1890; ne~, $:>,598,673, agamst $4,509,195; including the St. Loms & San Francisco, net earnings were $7,279,619, against $6,012,307. . 1-JFiscal year ends June 30. The annual report for 1890-91 wa~ given at length in the CHRONICLE, V. 53, p. 920, 923. See also article on p. 898. '·\ ·:_ t MAP OF THE fl) ATCHISON, TOPEKA .um SANTA FE R. R. EASTERN & GULF SECTION . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H ~t_:r.j rn ~ 0 ~ ~ r/.J q ~ ~ ~ ~ ;-Cj ~ ~ .--, - <I ~ ~ c... 11-- i z ;;: i G¾ i"'il te~04Jt ~~ G'll~- J., I lf-1>/4 iI k ~I 1 ~Q. s I-£ (X) co .:_ ~ i oHamilton Treasure Clty 0 orne D A V P,atterson.o oReveille 1e!. ··,\f sville A iI i iF isu i i ~ ~ 0 ~ W:est· Poin ' ler•, · si• .zime,:gosa.BCa11 ~ !P ,;,,~ £1,.,o tt !;' "' & ~ • ' m ·,·, _ Cl) ~ 0 ·,• ¼ - :,., • a ~ a;. ' ·. !:, ~ td ~ f/J ·• MAP OF THE ATCHISON, TOPEKA SANTA FE R. -R. AND WESTERN SECTION. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of- ---~-- -~ ·o,,> ~ ·,s. I• ~ IPASO DEL Can de .l-.-- ~ Rancheria ~ Carmen Ojo. Caliente ~ "'!'< C :Moptezuma co ,.. 0 ~ ~ 00 1-3 ~ u 00. \jl o.Ma'li'U MAP OF THE COLORADO MIDLAND RAILWAY ATCHISON, TOPEKA & SANTA FE < 0 RAILROAD SYSTEM. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis de , Silverton '"lf,fg~P,~"kl 04 as p,n~ r t-1 ..... ;< C-.t ~ ~.... ex, '° !: l K ;-~ ,4' CH, I • --... 0~• ~--.t', I I I I I I c~~e· _ oo~~ N 00 o:e1r, l>; 1-3 0 z a Pl 00 ~ t:d ~ t::, ... .,IT '"011 NSFtELD R A 'a u f '-.... oi-1' ~ toni · Lr Hot_Spring.s G>JlaUas MA I I . 'l\h 0' rn K I ST. LOUIS & SAN FRAN \ ~~ -.....--.-.,..,~-.:.- on. RAILWAY ATCHISON, TOPEKA &. SANTA FE RAILROAD AND CONNECTIONS . Beauce4Scak. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ RAILROAD SYSTEM. 0. !l,01· ~., , . JSS'"J-" :E - ,. INVESTORS' SUPPLEMENT. 12 Subscribers -will confer a great faver by giving hn1nedlate notice of any e1·ror discovered In these Tables. Bonds-PrinoINTEREST OR DIVIDENDS. RAILROADS. When Due. Miles D ate Size,or Amount Rate per When Where Payable, and by pal, Par Outstanding Stocks-Last of For explanation of column headings, etc., see notes of Dividend, Cent. Payable Whom. Road. Bonds Value. on first page of tables. --- AtchisonSystem-St.Louis&SanFran.-(Ooncluded) 82 Mo.&West.RR.lstM.,~.,$5,000yearlydr.at105.c* St. L. & SanF. col. true gold, sink. fd.notdrawn.c* 103 Gen. M. , g. (1st on 365 m.) $7,807,000 are 6s.c* 964 Collat. Tr. M. on br'ches ($20,000 p. m.), gold .. c* 55 Consol mort. for $50,000,000, gold ... .......... 1327 Equip. M., gold, $80,000 dr. ann'lly at 105 ... o* Eq~ment Trust $23,000 due each A. & 0 . .. .. . :St.L. ioh. &West. 1st M.,red. at105,g., guar .. o* i45 62 Kan. C. &8. W. lstM.,~red. at 110, int. guar.. c* St. L. Kan. & 8. W. 1st ., g., guar., red. at 110.c 70 :St.L. Salem&Ark. lstM.,guar.,redeem. at105.c* 54 Kan.Midland 1st M.,g.,$15,000p. m.,int.guar .. c 107 Ft.S.&VanBur.BridgelstM.,g., dr.atl0 ,1uar. Atlanta & Charlotte-Stock (5-6 p. o. rent. Rich. D.) 269 Preferred mortgage, redeemable at 100 ........ c* 26512 lat mortgage .... . ....................•............ r 26512 Income bonds (not cumulative), uaranteed .... r .Atlanta & Florida-lat mort. ($8,00 p. m.) gold .. c* io5 .Atlanta & West Point-Debenture certificates ....... .Atlantic Oity-lstmortfage, fold . ...... ...... ..... o* Atlantic & Danville-ls mor . gold, $16,000 p. m.c* 299 .Atlantic & St. Lawrence-Stock, 6%rental Grand Tr'k 151 .A::irsta & Savannah-Stock 7% rental Central Ga .. 53 B Eagle Vallei-lst mort. (s. f., drawn at 100) .. r 89 Baltimore Belt- stM. for $6,000,000, g.,int. gu.c* 8 Balt. & Eastern Shore-Consol. mortgage, gold, o*&r 87 iBaltimo1·e & Lehigh.-York & Peach B. 1st & 2d Ms. 40 Maryland Central 1st M., int. 4 p. o. till Jan., 1899 44 General mortgage for $7,000,000 . . ...... ..... . . 44 Balt. & Leh., Susq. Div. 1st m. for $2,500,000, g. ... .. ---· ---- 6 OPERATIONS ·ss 1879 $1,000 1,000 1880 1,000 1881 1,000 1887 1890 lO0&c. 1,000 1880 1,000 1884 1,000 1879 1,000 1886 1,000 1886 1,000 1886 1,000 1887 1,000 1885 100 1,000 1,000 1877 500 1880 1,000 1889 1,000 1881 1,000 1889 1,000 1887 100 ---100 1,000 1,000 1890 1,000 1890 1882 50,&o. .... 1889 ... .... 1889 1891 i877 isso ---· 6 g. $1,060,000 6 g. 1,114,000 20,110,000 5 & 6g. 5 g. 1,099,000 (1) 4 g. 235,000 7 g. 119,000 6 g. 2,000,000 6 g. 744,000 6 g. 890,000 6 g. 810,000 5 g. 1,608,000 4 g. 430,000 ~ g. 1,700,000 500,000 7 4,250,000 7 750,000 6 840,000 6 g. 1,232,200 6 2,200,000 5 g. 4,792,000 6 g. 5,484,000 3 1,032,200 312 360,000 6 5,000,000 5 g. 1,600,000 5 g. 244,800 5 850,000 4-5 659,000 5 (i) 5 g. F. & A. .N, Y.BaringMagoun&Co F. & A. do do ,J do do A. & O. do do A. & O. do do J. & D. do do A. & O. do do M.& 8. do do J. & J. do do M.& 8. do do J. & D. do do J. & D. do do A. & 0. do do M. & 8. N.Y.Cent.Tr.Co.,54Wall A. & 0. do do J. & J. do do A. & 0. do do M.&N. N.Y. A. Dutenhofer. J. & J. Atlanta, Ga. M.&N. Phila., 227 South 4th St. A. & 0. Oct., '90, coup.last paid. M.& 8. London and Portland. J. & D. Savannah, Co.'s Office. J. & J. Phila.,F.Ins.Tr.&S.Dep. M. &N. N. Y.,Brown Bros.&Balt In default. J. & J. Baltimore. Various do ----M.&N . do ,, ., . .... .......... FISCAL RESULTS. 1888-89. 1889·90. 7,112 7,110 Aug. 1, 1919 Aug. 1, 1920 July 1, 1931 Oct. 1, 1987 Oct. 1, 1990 June 1, 1895 A.&O.5p.o.ea. Sept. 1, 1919 Jan. 1, 1916 Sept. 1, 1916 Dec. 1, 1936 June 1, 1937 Apr. 1, 1910 Sept. 6, 1891 April 1, 1897 Jan. 1, 1907 April 1, 1900 Nov. 1, 1939 Co's option. May 1, 1919 Oct. 1, 1917 Sept., 1891 Dec., 1891 Jan. 1, 1902 Nov. 1, 1990 July, 1920 1932 Jan . 1, 1919 1939 1941 - 14 miles; Rio Grande Junction RR., Rifle Creek, Col., to Grand Junction 1890-91. 1 on the Rio Grande Western, 62 miles; other, 7 miles; total, 350 miles7,111 In August, 1890, leased the Busk Tunnel Rauway and guaranteed the Miles operated June 30. . . .. principal and interest of its bonds. These bonds are redeemable before Earnings$7 248 694 maturity at 105. See V. 51, p. 142, 248. In October, 1890, the Atohi$7,199,994 $6,610,034 23' 329' 649 son Topeka & Santa Fe purchased the entire capital stock of the Colo· 17,914,975 21,733,154 '871'550 rado Midland. See V. 51, p. 608. 721,324 742,917 769,241 Stock, $8,000,000; par, $100. Abstract of first mortgage in V. 45, p; Express ........... .. ........ . 764,552 878,101 1 444'582 540. Central Trust Company of New York is trustee of both mortMiscellaneous . . . ..... .. .. .. . 858,475 1,153,700 gages. Abstract of consolidated mortgag_e of 1889 was in V. 51, p. ' '• $33,663,716 572. The oonsols are guaranteed (by enuorsement on the bonds) as Total gross earnings... . $27,572,869 $31,00!,357 to both princlp al and interest by Atchison. Both issues of equipment 0pe1·ating Expenses$5,074,672 bonds are redeemable by sinking funds at 105, and are to be paid at :Mamtenanoe of road, &c .. ) { $4,842,149 3,399,204 maturity at same rate. Maintenance of equipm'nt. 2,670,736 14,482,151 From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were 'Transportation and traffic .. r $20,800,478 12,334,867 1,087,142 $880,510, against $805,945 ln 1890; net, $232,839, against $283,556; -General.. . . .. ... ... _ ........ J 1,072,634 In year 1890-91 gross earnings on 319 miles were $1,968,265; net, Total operating expenses. $20,800,478 $20,920,386 $24,043,169 $581,367; fixed charges, $652,276; deficit, $70,909; gross, $1,724,791; Net earnings... .............. $6,772,391 $10,083,971 $9,620,547 net, $558,943; surplus over ohar~es, $2,943. (V. 51, p. 457, 493, 572, Pero. of oper. ex. to earns.. 75·44 67·48 71·42 608, 680; v. 52, p. 238; v. 53, p. ~56.) The income account for 1889-90 was for nine months only, and thereAtchison Syste1n.-St. Louis & San Franclsco.-(See Map.) iore cannot be compared with the income account for 1890-91. Owns St. Louis. Mo., to Seneca, 326 miles; Pierce City to Wichita, Kan., 217 miles; Monett, Mo., to Paris, Tex., 303 miles; branches, 197 INCOME ACCOUNT OF CONSOL. SYSTEM FOR YEAR 1890-91. miles; total owned June 30, 1891, 1,043 miles. Leases 282 miles, and Net earnings............. .... .......... .. .. ... ......... . ...... $9,620,547 half owns the Atlantic & Pacific Central Division, 112 miles; Western .Add income from investments, &c..................... .. . . . . 770,156 Division, 835 miles; Wichita & Western, 125 miles; total (counting onehalf of mileage half owned), 1,862 miles. Total net income ... .. ....... . ................ . ....... ..... · $10,390,702 ORGANIZATION, &c.-This company was organized September 20, Deduct1876, as successor to the Atlantic & Pacific in Missouri. . In May, 1890, lnterest on guaranteed fund notes......... .... .. ..... .... .. $420,000 the Atchison Topeka & Santa Fe Railroad Company acquired most of " "4 per cent ~enerals. ... . ... .. ... .... ... ...... . ...... 5,024,286 the common and preferred stock (but not the first preferred) and " "5 per cent mcomes (2 p. ct.)....................... 1,587,791 assumed control of the road. See CHRONICLE, V. 50, p. 734, 771. " "other bonds (including Atch. share of A. & P.).. 478,255 STOCKS AND BONDS.-The common stock is $35,500,000; preferred Rental of tra_ck an~ rolling stock........................... 614,979 (7 per cent non-cumulative), $10,000,000; 1st preferred (7 per cent Rental of MoJave Div., A. & P. RR. (one-half).............. 218,133 non•oumulative), $4,500,000-par, all, $100. The common and preTaxes....... . ..................... ... . . ...................... .. 1,240,018 ferred stock are controllecl by Atchison and a large amount of the first .St: Louis & San Fran. Ry. (under agreement of Oct., 1886).. 260,302 preferred has also been acquired. Miscellaneous ...................... .. . .... ....... .... . .. .... ..· 92,395 The t erms of the 1st prer. stock are as follows: "This stock is entitled to a dividend of 7 per cent per annum * * * :111d by resolution of the Totaldeductions .......................................... $9,936,149 comfiany has ~riority of lien on net revenues for such dividend over any Balance, surplus................. . ............................ $454,553 :~!if~!~~~iist~~~f.~Y be issued by the company subsequent to the -(V. 52. p. 40, 547, 570, 863; V. 53, p. 21, 107, 125, 137, 474, 639, -'898, 920, 921, 923; v. 54, p. 158.) . In 1891 new 4 per cent bonds were offered to the holders of the first Atchison Syste1n.-Atlantlc & Pacific.-( See Map Atchison pref. stock, stockholders upon surrender of their certificates to receive Xopeka cf: Santa Fe).-Owns Western division from Isleta, N. M., near par in the new bonds and interest in cash at 4 per cent continuously .Albuquerque, on Atchison, Topeka & Santa Fe, to Big Colorado River, from January 1, 1890. V. 52, p. 547.• 570. Certain of the first pre560 miles, with Gallup junction branch, 4 miles. Leases from Big Colo- ferred stockholders opposed this plan. Dividends on first preferred stock-From 1881 to 1889, inclusive, 7 ,rado River to Mojave, Cal._, 242 miles; Atlantic & Pacific junction to ~buquerque, N. M. 13 miles; branches to mines. quarnes, etc., 16 per cent per annum; in 1890, February 2 per cent; since, nil. In April, 1891, the company decided to issue a new consolidated miles; total operated, 835 miles. Owns also Central Division, Seneca, Mo., to Sapulpa in the Indian Territory, 112 miles, operated by the St. mortgage for $50,000,000 of 4 per cent gold bonds, covering all its property, equipment and lands, subject only to $36,077,500 direct mortLouis & San Francisco Railway Co. This com]?any, chartered by act of Congress July 27, 1866, forms an gage bonds of the company on its own and leased lines, which are important link in the Atchison system. Its authorized stock is $100,000,- covered by the mortgage. This left $13,932,500 new con000 (par, $100), of which $79,760,300 has been issued, $51,503,800 of solidated bonds available for the following purposes: (1) this being owned b:1 the Atchison Topeka & Santa Fe and the St. Louis For retirement of $2,800,000 Atlantic & Pacific RR. Company's and interest by & Ban Francisco companies equally and deposited in trust for thirty 2d mortgage 6s, guaranteed both principal ¥ears. The stock is classed thus: Western Division, common stock, the St. Louis & San Francisco RR. Company. (2) To provide for completing the road and placing the property in sound financial and phys-11J78,271,600; Missouri Division, preferred, $78,700; Central Division, ical condition. (3) To retire at par, as stated above, $4,500,000 of 1st preferred, $1,400,000. preferred stock. (Bee V. 52, p. 570.) The bonds issued in exchange for The guaranteed trust bonds due in 1937 are guaranteed severally (but not jointly) by the Atchison and St. Louis & San Francisco, each com- the first preferred are guaranteed by the Atchison Company, and are so stamped. · pany guaranteeing one-half of each bond. They are redeemable at any The Fort Smith& Van Buren Bridge bonds are guaranteed. They have time at 105. The 2d mortgage bonds had same guarantee as first mortgage; but the bonds have been retired from circulation by the a sinkin~ fund of 5 per cent yearly to draw them at 105; they are all re,guar~ntors thou~h the mortgage is kept alive and they draw the 6 per deemable at 110 at company's option. The land department assets <eent mterest on it. [Abstracts of a11 the mortgages were published in were estimated June 30, 1891, at $493,048. OPERATIONS FINANCES, &c.-From July 1, 1891, to Nov. 30, 1891 the CHRONICLE, V. 49, pp. 302 to 304.) In 1884 the Southern Pacific sold the 242 miles of road from Mojave to (5 months), gross earnings were $4,050,493, against $3,846,509 in The Needles, on the Colorado River, to this company for $7,271,100, 1890; net, $1,680,946, against $1,503,107. Fiscal year ends June 30. Report for 1890-91 was in V. 53, p. 920, l)ayable in Atlantic & Pacific first mortgage bonds, issued on said 242 miles to amount of $6,059,250, and $1,211,850 in cash. Until clear title 933, and the following is for the St. L. & 8. F. proper. ,to this piece of road is given, the Atlantic & Pacific takes possession and INC01tlE ACCOUNT. pays 6 per cent per annum on the $7,271,000. The same negotiation 1889-90. 1890-91. .gave a right to run through trains to San Francisco over the Southern Gross earnings .......•........................ $6,394,069 $6,748,508 .and Central Paci.fie line_s either on a mileage basis or at 3 per cent per Operating expenses . ................. ..... ... 3,479,381 3,840,859 .annum on $40,000 per mile. Bee V. 39, p. 208; V. 40, p. 50. The land grant claimed under the old Atlantic & Pacific charter of July, Net earnings .......... . ....................... $2,914,688 $2,907,650 1866,"is 25,600 acres per mile in Territories and 12,800 acres in States. Other income........... . ... . ................. 100,933 72,926 •On the Western Division the company has earned under its grant 20,295,296 acres of land, 5,324,181 of which were sold to June 30, 1891, Total. ....................... . ............. $3,015,621 $2,980,576 leaving 14,971,114 acres undisposed of. A map of the land grant was Fixed charges (including $190,000 for divipublished in the CHRONICLE, v. 36, p. 468. dends in 1889-90 and $344,780 for In year ending June 30, 1891, gross earnin~s were $3,253,997, 3,079,920 equipment and improvements in 1890-91). 2,762,006 :against $2,816,401 in 1889-90 ; net, $23,323, agamst $393,998 ; fixed -charges, $1,817,053; deficit, $1,793,730, against deficit in 1889-90 Balance .. ................ . ........... . . ... .. sur.$253,615 def. $99,344 ;$1,307,360. (V. 50, p. 770; V. 51, p. 837; V. 53, p. 603, 753, 793.) Fixed charges (including $190,000 for dividends in 1889-90 are Atchison Syste1n.-Colorado Midland.-( See Map.)-Owns $344,780 for equipment and disbursements in 1890-91. lrom Colorado Springs to New Castle, Col., 234 miles; Aspen branch, 18 -(V. 51, p. 85, 207, 241, 345, 748, 786, 8~8, 841; V. 52, p . 204, 351, miles; Jerome Park branch, 15 miles; leases New Castle to Rifle Creek, 499, 547, 570, 643, 681, 718, 796,862,863, 899; v. 53,641, 9~0. 933.) A.ND f:i~t~~;:_:.:.:_:.:.:_-· : ~ :.:.: :::::: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ---- JANWARY, 1892. l RAILROAD STOCKS AND BONDS. I IS Subscribers will confer a great favor by giving Immediate notice of any error discovered In these Tables. ,:~~~°; RAILROADS. Miles Date Size, or Amount ___IN_T_E_R_E_S_T_O_R_D_I_V_ID_E_N_D_S_._ _ For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable and by Stocks-Last on first page of tables. Road. Bonds1_v_al_u_e_.-,- - - - - - , Cent. Payable Whom. Dividend. Baltimore & Ohio-Stock (see remarks)............. . . . . 1st and 2d pref. stock, cum.~ $3,000,000 is 1st pref . . . . Loan due in 1880, extendeu, payable at will...... 379 Loan, 1853, extended in 1885, gold.............. 379 Loan, 1870. sink. fund £16,000 yearly,notdrawn 379 Mortgage 1872, sink. fund £12,000 semi-annually 421 Mortgage 1874, sink. flmd £9,000 semi-annually. 421 Bond to City Baltimore (payable $40,000 yearly). 379 Consolidated mortgage (for$29,..{600,000) gold.c* 511 Loan, 1877 (s. f. dr'natlO0)(B.&v.&Ch.bds.col'l)c 263 N. W. Virginia RR. 1st M. (ext. in 1888) assum.c} { B. & O. loan 1879 (Parkersb'g Br. bonds collat.) 104 Wash C. & P. L.(Alex. Br.) s. f. $36,000 p. an... Mort. on Phila.Br.. with Balt. & Phila. bds.as col.. 108 Pittsburg & Connellsville 1st mortgage........... 149 Consol. mort.,guar.B. & O.(s. f. £7,200 per yr.). 149 B. & O. loan, 1885,g. (Pitts. & Conn. bds. as col.).. 150 Car trust loan, gold ($250,000pd.yearly Jan.1).c . . . . Equipment trust ($100,000 paid yearly April 1) . . . . Equip.trust,Ser.B.,$200,000duey'rlyNov.1.c* .. . . 10 'd ai { Schuyl. R. East Side RR. 1st M., g. (guar.) ~~ Monongahela River RR., 1st M., gu., g .. c* 32 ~~ Balt. & N. Y. RR., 1st M., guaranteed .. c&r 5 j'~ Akron & Chic. J. 1st mort, gold ......... c* 73 ~ Balt.Belt.lstM.for $6,000,000,g.,int.gu.c* 8 Baltimore & Ohio Southwestern-Cin. & Balt. 1st M. 5 1st mort~age (guaranteed by Balt. & 0.) gold .. c* 281 1st pref. mcome mortgage, not cumulative, g .. c* 281 2d pref. income mortgage, not cumulative, g .. c* 281 3d pref. income mortgage, not cumulative, §--C* 281 Batt. & Potomac-lstM. (tun.) g., s. f.lp.c.,notdr n.c* 112 lstM., road,guar., gold, s. f. 1 p. c., not drawn .. c* 90 Consolidated mortgage for $10,000,000, gold .. c* 92 .. .. .. .. 1853 1853 1870 1872 1874 1875 1887 1877 1855 l 879 . ... 1883 1868 1876 1885 1887 1889 1890 1886 1889 1889 1890 1890 1869 1889 1889 1889 1889 1871 1871 1889 $100 100 500 &c. 500 &c. £200 £100 £200 .... 1,000 £200 $1,000 1,000 .... £200 $1,000 £200 $1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000. 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 Atlanta & Charlotte Air Llne.-Owns from Charlotte, N. C., to Atlanta G a., 269 miles. The Richmond & Atlanta Air-Line was sold under ~oreclosure December 5, 1876, and the existing corporation was formed Fel)ruary 27, 1877. · On March 26, 1881, the road was leased to the Richmond & Danville for 99 years, at a rental of $466,500 per year, equal to the interest on debt and 5 per cent on stock; if gross earnings of Atlanta & Charlotte Air-Line exceed $1,500,000, dividends to be 6 per cent; and if they exceed $2,500,000, 7 per cent. Due Richmond & Danville for betterments, as per that company's balance sheet on June 30, 1890, $1,183,846. Dividends have been-From 1881 to March, 1890, inclusive, at rate of 5 per cent yearly; in September, 1890, 3 per cent; in 1891, March, 3, per cent; Sept.!. 3 per cent. See V. 51, p. 20. In 1890 gross earnings were $1,687,330, against $1,516,416 in 1889. (V. 51, p. 20.) Atlanta & Florlda.-Owns from Atlanta southerly to Fort Valley, Ga., on Central Georgia Railroad, 105 miles; extension to tidewater projected. This is the Atlanta & Hawkinsville, incorporated in 1886; name changed in 1887. Constructed by Georgia Improvement Company, which received $10,000 stock per mile. Trustee of first mortgage for $1,200,000 is Central Trust Company. Stock outstanding, $1,115,000; par, $25. Car trusts August, 1890, $64,000. From January 1 to June 30, 1891 (6,months), gross earnings on 105 miles were $48,356, against $49,243 in 1890. In 1890 gross earnings were $128,842; net, $7,550. In 1889 gross, $100,022; net, $17,342. Atlanta & West Polnt.-Owns from Atlanta, Ga., to West Point, Ga., 8612 miles. In April, 1881, a controlling interest m this company was acquired by the Central Georgia through purchase of $188,500 stock and the lease of the Georgia Railroad, under which lease $440,900 stock and the same amount of debt certificates are held. Any mortgage issued must be subordinate in lien to the dividend certificates. Stock, $1,232,200; par, $100. Dividends paid in 1889, 18,and 1891, 6; in 1892, Jan., 3 p. c. In year ending June 30, 1889, gross earnings were $424,517; net, $139,044; in 1889-'90, gross, $473,441 ; net, $168,363; interest naid, $73,932; dividends paid (6 per cent), $73,932. In 1890-91 gross, $483,353. A tlantlc City .-Camden to Atlantic City, 54 miles; with branches,&c of 29 miles. Consolidation in 1889 of the Philadelphia & Atlantic City RR. and other lines. Stock authorized and issued, $1,200,000 common and $1,000,000 preferred. Controlled by PhiladelJ?hia & Reading RR. Trustee of mort~age, Guarantee Trust & Safe Deposit Co. of Philadelphia. Floating debt January 1, 1891, $648,290. In year ending November 30, 1890, gross earni~~s were $734,592; net over operating expenses and taxes, $61,211. ( v. 52, p. 824.) Atlantic & Danvllle.-Completed February, 1890, Portsmouth, near Norfolk, to Danville, Va., with branches, 245 miles, and Claremont to Belfield (3 feet gauge) 54 miles; total, 299 miles. From Danville. the Danville & East Tennessee was projected by parties in same interest to Bristol, on East Tennessee Virgima & Georgia RR. In January, 1891, Messrs. Alfred P. Thom and C. H. Cromwell were appointed receivers. See. V. 52, J?· 80. In March, 1891, $250,000 receiver's certificates were authorized. Trustee of mortgage, Mercantile Trust Co. Stock authorized, $20,000 per mile; outstanding, $4,311,390; par, $100. From January 1 to July 31, 1890 (7 months) gross earnings were $281,458, against $195,1,314 in 1889; net, $91,860, against $87,981. Gross earnings in 1888, 1!>204,064; net, $96,847. In 1889, gross, $383,356; net, $173,431. (V. 50, p. 70, 243; V. 52, p. 80, 462.) Atlantic & St. La-w-rence.-Owns from Portland, Me., to Island Pond, Vt. (and branch), 151 miles, there connecting with Grand Trunk of Canada, to which leased for 999 years, August 5, 1853, at a rental equal to bond interest and 6 per cent on stock. The funded debt consists of 1st, 2d and 3d mort~a~e bonds, in all $3,000,000, which the Grand Trunk holds and has p1euged for its debenture stock. The stock of $5,484,000 is mostly £, with dividends payable in London. In 1890-91 gross earnings were $1,141,618; net, $243,658; deficit under interest, &c., $291,661, against $261,041 in 1889-90. Augusta & Savannah.-Owns from Millen to Augusta, Ga., 53 miles. Leased in perpetuity to Central of Georgia for $73,000 per annum. Has no bonded debt. Bald Eagle Valley.-Owns from Vail Station, Pa., to Lockhaven, Pa., 51 miles; branch to Bellefonte, Pa., 3 miles; Nittany brancht 10 miles; Snowshoe to Sugar Camp, 25 miles ;. total operated, 89 miles. Leased to Pennsylvania RR. Co. for 99 years from December 7, 1864. Rental, 40 per cent of gross earnings. Rental, etc., in 1890, $265,007, against $208,418 in 1889 ; surplus over fixed charges, $226,816, out of which paid dividends (10 per cent) $140,623. Stock is $1,406,250 (par $50), of which Pennsylvania RR. owns $706,250. Dividends are paid February and August at Treasurer's office. (V. 49, p. 82.) Baltllllore & Eastern Shore.-Owns Claiborne to Ocean City, Hd., 89 miles, and Bay Ridge to Annapolis, 5 miles; ferry, 12 miles. Completed early in 1891, and in April, 1891, Capt. Willard Thomson was appointed receiver. See V. 51, p. 718. Stock authorized $1,000,000; par $50. (V. 51, p. 20; V. 52, p. 641.) Baltimore Belt.-( See Map.J-Owns road under construction in ihe city of Baltimore, formin~ by tunnel and open-cut a connecting link between the main line of tue Baltimore & Ohio and the Philadelphia branch. Its total length with branches. will be a.bout 7 miles. Leased for 999 years to the Balt. & O. RR. Co., which controls its entire eommon stock and guarantees by endorsement the unconditional pay- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $25,000.000 5,000,000 579,500 1,709,500 3,454,792 9,301,512 9,634,504 360,000 10,100,000 7,078,984 140,000 3,000,000 540,000 11,616,000 4,000,000 6,567,880 10,000,000 1,000,000 800,000 1,800,000 4,500,000 700,000 350,000 1,500,000 5,00Q,000 333,000 10,667,000 5,500,000 6,400,000 7,700,000 1,500,000 3,000,000 3,000,000 20 stk M. & N. 3 J. & J. 4 J. & J. 4 g. A. & 0. 6 g. M. & S. 6 g. M. & 8. 6 g. M. & N. 6 J. & J. 5 g. F. & A. 5 g. J. & D. 6 J. & J. 6 A. & O. 6 .... 412 g. A. & 0. 7 J. & J. 6 g. J. & J. 5 g. F. & A. 412 g. J. & J. 5 A. & 0. 5 M. & N. 5 g. J. & D. 5 g. F. & A. 5 g. M. & N. 5 g. M. & N. 5 g. M. & N. 7 J. & J. 412 g. J. & J. 5 g. Oct. 1 5 g. Nov.1 5 g. Dec. 1 6 g. J. & J. 6 g. A. & 0. 5 g. J. & J. Balt. Office, Cent. Bldg. Dec. 31, 1891 do do Jan. 1, 1892'. do do At will. do do Oct. 1, 1931> Lond'n,BaringBros&Co Mch. 1, 1895do do Mch. 1, 1902' London,J.S.Morgan&Co May, 1910 Baltimore, Office. July, '92-1900 N. Y., Union Trust Co. Feb. 1, 1988London,J.8.Morgan&Co June 1, 1927 Baltimore, B. & 0. RR. Mch. 1, 1902 N.Y., D. M. & Co. & Balt. April 1, 1919· ....... ... Jun,e l, 1913' London, Brown, 8. & Co. April 1, 1933 Baltimore, B. & O. RR. July, 1898 Lond'n,J.S.Morgan&Co. Jan. 1, 1926 N. Y., Union Trust Co. Feb. 1, 1925 Balt'me, Mere. Trust Co. 10 p. c. yearly.. Phila.t Fin'ce Co. of Pa. 1892 to 1899 uo do Nv.1,'92-190O Phila., Solicitors' Co. Dec. 1, 1935 New York. Feb. 1, 1919 do May 1, 1939 N. Y., Mere. Trust Co. Nov. 1, 1930 N.Y.,BrownBros.&Balt Nov. 1, 1990 N. Y., Farmers' L. & Tr. Jan. 1, 1900 do do Jan. 1, 1990 In 1891 paid4 per cent. Jan. 1, 1990 N. Y.-When earned. Jan. 1, 1990 do do Jan. 1, 1990 Balt. Office and London. July 1, 1911 Balt. Office, Calvert St. April 1, 1911 do do July 1, 1929 ment of the interest on its bonds. The mortgage is for $6,000,000, but $1,000,000 is to be issued only when future requirements of the com• , pany demand. See full abstract of mortgage in CHRONICLE, V. 52, :p. 205 (V. 51, p. 405, 718, 829; v. 52, p. 203, 205.) 1 · Baltimore & Lehlgh.-Owns from Baltimore, Md., to York, Pa.t 79 miles, and branch to Peach Bottom, 5 miles; total, narrow gauget 84 miles. In May, 1891, the Maryland Central and the York & Peach Bottom railroads were consolidated under this title, and in June, 1891, the Deer Creek & Susquehanna Company was taken in. Se& V. 53, p. 58. It is proposed to change the gauge and to complete theDeer Creek & Susquehanna line from Belair to Stafford, Md., and thence southward to tidewater at or near Havre De Grace; also west-ward from Belair. On the new road $2,500,000 of 5 per cent bonds are to be issued, to be called the Susquehanna. Division bonds. The Maryland Central bonds bear 4 per cent interest till 1899; thereafter 5, per cent. The stock of the consolidated company is $(!_,000,000; :i;>ar, $100. In 1890 gross earnings were $231,154; net, $::>4,280, agamst $54,320 in 1889; surplus over charges in 1889, $21,617. President,. William Gilmore. (V. 53, p. 58.) Baltllllore & Ohio.-( See Map) .-Operates from Baltimore to Phila.delphia and Baltimore to Chicago, and has, via the Baltimore & Ohio Southwestern, a direct route to Cincinnati, 593 miles, the total mileageleased, owned and operated (excluding the Baltimore & Ohio Southwestern) being 1,950 miles, ot which 645 miles are west and 1,305miles east of the Ohio River. ORGANIZATION, LEASES, &c.-The COr,Poration was chartered in Mary land February 28, 1827, and in Virginia March 8, 1827. First section opened May 24, 1830. The Baltimore & Ohio Telegraph Company's stock owned by the Baltimore & Ohio Railroad Company was sold out to Western Union for $5,000,000 Western Union stock at par and a rental of $60,000 per year for fifty years. In 1890 a syndicate purchased $2,955,000 common stock (including that held by the City of Baltimore), and this stock, together with that held by the Garrett interest ($8,975,000 in all) .has been deposited in trust with the Farmers' Loan & Trust Co., and will be voted on for three years from June 23, 1890, by Mr. C. ·F . Mayer, President of the Baltimore & Ohio, ana his two nominees. The stock ill table above includes the new stock for div. and for Pitts. & West. purchase. A eontract or lease made with the Chic. & N. Pac. in Dec., 1891, gives use of ample terminals in Chicago. The terms of lease not definitely knowntbut reported as 15s per cent on $26,000,000 of bonds. On Nov. 16, 1891, the stockholders voted to increase the stock from $14,792,566 to $25,000,000, paying a 20 per cent stock dividend payable Dec. 31 to stockholders of record Nov. 30, 1891, and paying $2,16l,800 for the previous purchase of Pittsburg & Western RR. stock, leaving about $5,000,000 applicable to improvements (V. 53, p. 712. 753), which was sold to a syndicate in January, 1892. For contract with Akron & Chicago Junction and Baltimore Belt roads see V. 51, p. 344. STOCKS AND Bo:NDS.-The $8,975,000 common stock deposited in trust as above stated is the "trust stock" dealt in on the BaltimoreExchange. Preferred stock carries 6 per cent dividends only. Dividends on common stock-In 1877, 8 per cent; in 1878, 8 in stock; in 1879, 4 stock and 4 cash; in 1880, 9; in 1881 to 1885, inclusive, 10; in 1886, 8; in 1887, 4; then none till 1891, when 20 per cent in stock was declared. Price of common stock in Baltimore-In 1881, 183'@210; in 1882, 190'@202; in 1883, 19212'@205; in 1884, 167'@199; in 1885, 16612@ 185; in 1886, 150'@191; in 1887, 104'@180; in 1888, 80'@10612; in 1889, 81@10112; in 1890 92121ill0712; in 1891, 84 7s1il104; in 1892 to Jan. 22 inclusive, 84@!}412. In addition to the bonds given in the table above as outstanding thesinking funds held Sept. 30, 1891, consols of 1887 to the amount of $3,726,000 (interest on which is paid in consols themselves) and otherfirst-class interest-bearing bonds to the amount of $5,174,208. The consolidated mort. of 1887 (trustee, Mercantile Trust & Dep. Co.) covers the main line, Baltimore to Wheeling, and branches, 444 mllest the two Ohio River bridges, stock of the Washington branch for $1,028,000, and the entire issue of first mort. bonds ($5,000,000) on the road between Pittsburg and Wheeling. The balance of consols unissued is reserved to retire the prior bonds not held by the sinking funds. Abstract of mortgage was in V. 46, p. 804. The loan of 1877 is secured by deposit of the entire stock and bonds of the Chicago Division. The loan ot 1879 is secured by deposit of mortgage for $3,000,000 on the Parkersburg branch, this mortgage being subject only to $140,000 North Western Virginia bonds assumed by Baltimore & Ohio. The loan of 1883 i& secured by first mortgage on the Philadelphia Branch and pledge of all first mortgage bonds of the Baltimore & Philadelphia RR. (Maryland State line to Philadelphia), amounting to £1,000,000. The loan o:f 1885 is secured by $10,000,000 2d consolidated bonds of Pittsburg & Connellsville RR., deposited with Union Trust Co., of N. Y., as trustee. See Pittsburg & Connellsville. The bonds of the Schuylkill River East Side RR. are guaranteed by Baltimore & Ohio (the Pennsylvania Company for insurance on Lives, &~., being mortgage trustee). So too are the Monongahela River 5s, wruch cover road from Clarksburg to Fairmount, W. Va., and the Baltimore & New York 5s, covering 5 miles of road from west end of the Arthur Kill bridge of the Staten Island Rapid Transit RR. to a Junctio• with the Central of New Jersey RR. near Roselle, N. J. HILL - PARK ~ Map of BALTIMORE SHOWING THE BALTl MORE BELT R. R. ~ 1f r: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND CONNECTIONS. The Ba.rt. "Belt R.R. Bait • .t Olli_o B. B --- - - - - - - Othe.r B&U:to&"d:S- I-◄ !Z -<1 t:rj U1 ~ 0 ~ "' a. f12 U1 q 1-,j 1-,j ~ ~ t:rj ~ ~ 1 r-4 ~ ~ .,... ~ ~ P=l ~ 00. ~ 0 0 E-1 00 ~0 ~ Piketon 0 ton 7. olbza.rd ~ / / / ,/"J!ea. ,/./ -----....., ~.... ~ ~ I-;) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ·cy Sal MAP OF T H E BALTIMORE & OHIO RAILROAD AND CONNECTIONS. 1, INVESTORS' SUPPLEMENT. 16 [VOL. LIV, Subscribers -w-ill cont'er a great Cavor by giving Immediate notice ot' any error dlscovereil in these Tables. . RAILROADS. I Miles Date Size, or 5'or explanation of column headings, &c., see notes ' of of Par on first page of tables. J Road. Bonds Value. Beech Oreek-Stock (guaranteed 4 per cent) ........ 1st mortgage, feold, guar. by N. Y. Central. . . . c&r BellaireZanesvil e& Oin.-Priorlien mort.,red at 105 lstmo~age for $1,000,000 ...................... el.-lst M., ext'din '77d convdrguar ..... c Cons. mort. of 1876, sinking fun , not awn..... c Cons. M. of '76, guar. by Un. Co's & Pa. RR.,s. f .. r Bennington & Rutlantl--lst mortgage .............. .Berkshire-Stock (7 c. perret. rental Housatonic) Billings O.F.<I: O'ke .-Gen. st M.s.f.red.at 110,g.c* Birmingham Sheffield & Tenn. River-1st mortgage Boston & Albany-Stock ($30,000,000 authorized) .. · Plain bonds,notmortgage ...................... c&r Bonds of 1875 notmort/age .................. c&r Bonds (not mort.) issue to State for its stock . . . r Boston & Lowell-Stock .. Bonds,not mortgage .. Bonds do Boston & Maine gives Bonds do a rental guarantee .Bonds do for 99 years . Bonds do !Lowell & Law. bonds .. Salem & Lowell bonds. Nash. &Lowtain b'ds Do o . 6Joston & Maine-Stock .............................. Preferred stock, 6 per cent, not cumulative ...... Plain bonds, not mortgage ....... . ............. c&r 4Jewidere J· [~~ntbi~ds <~::~~~•.~?~ ~~~. :.~~:: ~~?.~>..~·. ~:::: 131 $50 $5,000,000 4 per an. Q.-J. N.Y., Gr'nd Cent. Depot Jan. 1, 1892 131 iss6 1,000 5,000,000 4 g. J. & J. do do July 1, 1936 102 1889 .... 250,000 4 J. & J. N. Y., Farmers' L. & Tr. July 1, 1899 102 1890 738,000 4 J. & J. Jan. 1, 1940 64 1867 1,000,000 6 J. & D. Philadelphia, Pa. RR. · June 1, 1902 1:000 1,000 67 1876 722,000 7 J. & J. Treasurer, Trenton,N.J. Jan. 1, 1916 1,250,000 4 Various Philadelphia, Pa. RR. Sept., 1925·27 67 1885·7 1,000 1,000 59 1877 475,000 7 M. & N. N. Y., Union Trust Co. Nov. 1, 1897 22 100 600,000 1·9012 Q.-J. Stockbridge, Treasurer. Jan.11, 1892 51 is·s 1 500 &c. 6 g. J. & J. New York and London. Jan. 1, 1927 2;600,000 5 A. & 0. Oct. 1, 1929 .... 1889 ·ioo 20,000,000 2 Q.-M. Boston, Office. Dec. 31, 1891 --·· 1,000 is72 5,000,000 7 F. & A. do Feb. 1., 1892 .... 1875 1,000 2,000,000 6 J. & J. do July 1, 1895 100 .... 1882 3,858,000 5 A. & 0. do Apr. 1, 1902 100 5,529,400 312 J. & J. Boston, at Office. Jan., 1892 1,499,500 7 Various do do Apr.,1892&'95 .... 1872-5 . .... 6 J. & J. do · do July 1, 1896 .... 1876 .... 750,000 5 J. & J. do do July 1, 1899 .... 1879 620,000 250,000 412 M. & N. do do May 1, 1903 .... 1883 4 Various do do 1905-6-7-9 1885-9 .... 3,485,000 . ... 200,000 do do Oct. 1, 1897 6 A. & 0. .... .... 6 A. & 0. do do Oct. 1, 1898 226,900 6 F. & A. Nashua, Co.'s Office. Aug. 1, 1893 200,000 .... is73 .... 1880 100,000 5 g. J. & J. do do July 1, 1900 ·ioo 17,302,300 . ... 412 M. & N. Boston, at Office. Nov. 16, 1891 100 3,149,700 3 M. & 8. do do Sept. 1, 1891 1873-4 500 &c. 3,500,000 7 J. & J. do do Jan.,1893&'94 4 F. & A. do do Feb.,1905&'07 .... 1885-7 1,000 1,500,000 .... 1887 1,000 1,909,000 4 F. & A. do do Feb. 1, 1937 .... ---· ---.... ---· .... .... .... .... .... .... The Akron & Chicago Junction 5 per cent bonds cover road completed in July, 1891, from Akron to Chicago Junction, 73 miles. They are guara.ntE:ed as to interest by phe re~ta;l from Baltimore_& Ohio, ~s also the Baltrmore Belt bonds on lme building through the City of Baltimore. ee V. 51, p. 344, 405, 829. . . The other bonds guaranteed are $11,000,000 Baltimore & Ohio Sou~h _Western first mortgage 412 per cents; $2,500,000 Staten Islan~ Rap!d ~a~sit 2d mort. 5s; $326,oqo Valley of Va. 1st mort. bonds \held m 18mking fund); $147,250 Wmchest~r _& P(?to~ac first mortgage 6s, .and $2,240,000 of the Col~mbus & Cmcmnati Midland; also guarantees nterest on $2,400,000 Pittsbur:g _C~eveland & Toledo firs_t mortgage ,bonds and $4,000,000 5s West Vrrgmia & .Pittsb1;1rg ~~-~ which see. OPERATIONS, FINANCES, &c.-After havmg paid diviaends for m~ny _years the company passed the November, 1887, and subsequent di~-dends on common stock until November, 1891, when 20 per cent m tock was declared. From October 1, 1891, to Dec. 3_1, 1~91, (3 mon~hs), gross earnings ,of all lines east and west of Ohio Ri~er were $6,598,954, against :$6,250,355 in 1890; net, $1,873,845, agamst $1,907,176. . Fiscal year n;ow ends June 30. Annual report for year ending Sept. :30, 1891, was m CHRONICLE, V. 53, p. 752, 755; see also p. 730. INCOME ACCOUNT. 1888-89. 1889-90. 1890·91. $ $ $ .r1 min 21 303 001 24 412 096 24,530,395 =ross ea gs .. · .... ··············· 14' 810 •844• 16' 966' 870 17 078 233 Operating expenses.··············· , , , , • • N e t earnin gs ............ ··········· 6 ' 492 ' 158 7 ' 445 ' 226 7 •452 •162 ..Add income from 0ther sources.·· 1 •265 , 861 l, 5 o9 , 937 1 ' 259 ' 877 T t l ti 7 758 018 ncome. ·• · · · · · · · · · · · · ' • :Net earnings Washington Branch. 357,651 6 208 562 F. d h o'ii t~f~t2ci.i,i-er:·st'k(6·p:o.) '300:000 D~:i~e nfv:. 'l'otal ........... .,.... . . . . . . . . . . . t'!;!i}~: payments·~ i-eiire·bonds:: 6,866,213 ~~~:~i~ 8 955 063 ' ' 376,172 6 417 599 '300:000 8 712 039 ' ' 190,767 6 429 098 '300:000 7,093,771 1,861,292 481,058 6,919,865 1,792,174 471,558 Leaving a balance of........... 519,318 1,380,234 1,320,616 ,.-Earnings, 1889-90.-. ,.-Earnings, 1890-91.-. Gross. Net. Gross. Net. $ $ $ $ Main Stem, &c ......... :11,950,505 4,143,708 12,031,582 4,613,672 Washington Branch. ... . 502,594 376,172 726,419 190,767 !Parkersburg Branch.... 773,191 157,780 793,295 160,634 ,Central Ohio Division... 1,408,214 309,809 1,365,564 187,542 L ake Erie Division.. . ... 1,211,170 271,397 1,106,818 255,359 (Jhica go Division........ 2,603,445 385,258 2,556,814 383,721 P ittsburg Division...... 3,069,055 1,123,626 2,880,391 981,796 Wheeling & Pitts. Div. . 755,790 125,287 653,012 54,212 P hiladelphia Division. .. 1,696,841 450,234 1,899,638 556,457 New'k Somerset & St'le. 178,584 16,124 145,026 2,116 ~ol. & Cincin. Midland. 262,708 85,831 344,458 69,200 ...Akron Division .... . ... . 27,376 def. 3,315 T0 t 1 24 412 096 7 445 226 24 530 395 7 452 162 a ······ ······ ···· ' ' ' ' ' ' ' ' --(V. 51, p. 171, 239, 344, 405, 483, 537, 694, 712, 714, 716; V. 52, ~ - 238,462,796, 831; V. 53, p. 58,223,568, 603, 712, 7 52,753,755, 93 158 5 "7 ; V. 4, p. -> Baltimore & Ohio South-w-estern-(SeeMapof Balti more& Ohio). -Cincinnati, 0., to Belpre, 0., 193 miles; branches-Marietta to Belpre, 3.1 miles; Portsmouth to Hamden, 55 miles; Blanchester to Hillsboro, :22 miles; total, 281 miles. Connecting line for the Balt. & Ohio to Cin· -cinnati, etc. · The Cincinnati Washington & Baltimore was sold in foreclosure Sept. i.9, 1889, and reorganized' under present title by plan in V. 49, p . 82. The new first mortgage bonds carry the endorsed guarantee of Balti· ® or e & Ohio as to both principal and interest. The Farmers' Loan & 'Trust Comvany is mortgage trustee. See abstracts of the first mortgage .and of the mcome mort:fia~es in V. 51, p. 245, 246. Stock is-Common, ~2,500,000, all held by a timore & Ohio; preferred, $2,500,000; par, 0 th ) · • .Jul 1 1891 t 0 o t 31 1891 (4 om Y , , c · , mon s' gross earnmgs were 956,884, against $847,889 in 1890; net, $394,129, against $311,035. For the calendar years earnings have been as follows: 1889. 1890. . $ $ 2,329,445 G ross earnrngs ......... . ..... . ... . ... • .......... 2,177,957 -Op erot ing exp en ses ...................... .. ..... 1,499,648 1,517,793 --Net earnings .... -. • • • ... • .. . .. . ... - .. . .. . •. • - 678,309 811,652 ·T axes and a ssessments ....... . ......... . ....... 53,788 54,000 :$}g B alance......... . ..... . .... . .......... . ... . .. 624,521 757,652 After paying taxes and fixed charges there was applicable to the 11ayment of interest on th e first preferred income bonds for the year 1890 4 per cent (being $220,000), and the same was declared, payable https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis :~rWhe{?:Wu.'!!~ INTEREST OR DIVIDENDS. and by Sto~k~-Last Dividend. per When Where Payable, 0 ~~~~fug Rate Cent. Payable Whom. I on the 25th day of March, 1891.-(V. 49, p. 82, 235, 372, 580, 856i V 50, p. 138, 632; V; 51, p. 245; V. 52, p. 320.) Baltimore & Potoinac.-Owns from Baltimore, Md., to South End Long .Brldge, Va., 43 miles; and from Bowie to Pope's Creek, 49 miles; total, 92 miles-including tunnel in City of Baltimore; leases branch 4 miles; total operated 96 miles. Controlled by the Pennsylvania RR. Co., and first mortgaue bonds guaranteed by Pennsylvania and Northern Cen• tral. Stock,$4,914,250 (par $50),of which Pennsylvania RR. owns $4,· 081100andNorthernCentral$622,850. Consolsfor$3,000,000areheld by Pennsylvania RR. Co. Sufficient consols are reserved to retire all the prior bonds as they mature. In 1890, gross, $1,708,369; net, $462,849; surplus over fixed charges, $33,107, against $19,811 in 1889. · From January 1 to October 31, 1891 (10 months), gross earnings were $1466109 against $1 415 444 in 1890 · net $390,982 against $377,349. ' ' ' ' ' ' Beech Creek.-Jersey Shore, Pa. to Gazzam, 104 miles; branche, to Philipburg, to mines, &c., 27 miles; total, 131 miles; trackage to Williamsport, 16 miles. Successor to the Beech Creek Clearfield & Southwestern, reorganized in 1886. From October 1, 1890, leased to the N. Y. Central & Hudson River RR. for 999 years at 4 per cent on company's bonds and stock, the bonds being indorsed with the Cen• tral's guaranty of principal and interest. See V. 52, p. 570. Dividends on preferred stock from 1886 to 1888, inclusive, 5 per cent per annum; in 1889, 2¾1; in January, 1890, 5 per cent; in: 1891 stoek was all made common, ·and on this dividends of 4 per cent are guaranteed. See V. p. 52,570. There are $150,000 of 5 per cent car trust certificates of 1887, due $37,500 yearly, and $333,000 of 5 per cent equipment trust certificates of 1890, due $37,000 yearly June 1, 1892 to 1900. Both issues are guaranteed principal and interest by the lessee. The $825,000 bonds which are to be issued by the Clearfield Bituminous Coal Company,when reorganized, will be guaranteed by the Beech Creek, and interest upon them will be payable as rental by the N. Y. Central. In 1890 gross earnings were $1,026,719; net, $349,249; surplus over fixed charges, $81,375, against $10,986 in 1889. (V. 50, p. 275; V. 51, p. 829; V. 52, p. 80, 2~8, 321,498, 570.) Bellaire Zanesville & Cinclnnatl.-Owns Bellaire, O., to B. & 0. Junction, 102 miles; trackage B. & 0., 1 mile; leases Muskingum County RR. to Zanesville, 9 miles; total operated, 112 miles . . Placed in receiver's hands in July, 1886, and reorganized in 1889. Stock is: Common $832,000; preferred $795,910; par $50. In year ending June 30, 1890, gross earnings were $98,589; net, $6,641. Belvidere Dela-w-are.-Owns from Trenton, N. J., to Manunka Chunk, N. J., 67mlles; FlemingtonRR.,&c., 14 milM; operated cut-off, 1 mile; total operated, 82 miles. Leased to United Companies, and transferred to Penn. RR. March 7, 1876. Net eatnings paid as rental. Penn. RR., Dec. 31, 1890, owned all of the 7 per cents. The first mortgage (convertible into stock) and new 4 per cent bonds are guaranteed by the United Companies. In 1890, net, $369,437; surplus over fixed charges, $105,253. Dividends of 6 per cent are paid. Stock, $1,150,000 (par $50), all held by Penn. RR. Co. Bennington & Kutland.-Owns from Rutland to Bennington Vt., 57 miles; branch, North Bennington to New York State Line, 2 miles; total, 59 miles. Stock, $1,000,000 (par $50). Gross earnings in 1889 were $216,625 ; net, $50,084; surplus over interest, $16,834. In 1890 gross $241,684; net, $58,585. Berkshire.-Owns from Connecticut State Line to West Stock; bridge, Mass., 22 miles. Leased in perpetuity to Housatonic Railroad Company at 7 per cent on capital stock, $600,000. Lessors pay taxes, &c., and hence the quarterly dividend due in October is usually omitted; in 1891 paid 5-30 per cent. Birmingham Slleffleld & Tennessee River. - Sheffield to Jasper, Ala., and branches, 92 miles; to be extended 15 miles to a con• nection with Georgia Pacific. Stock is $2,SOOtOOO. In September, 1887, Sheffield & Birmingham RR. was consolidatea with the Alabama & Tennessee Coal & Iron Co. In January, 1889 receiver appointe~ and in 1 April, 1889, the railroad property was sold to the Birmingham 1::1heffield & Tennessee River, and the Coal & Iron properties reorganized separately. From January I to Nov. 30, 1891, (10 months), gross earnrngs were $192,680, against $175,002 in 1890; net, $67,878, against $47,083. In year 1890 gross earnings were $192,605; net, $54,817. President A. Parrish, Philadelphia, Pa. (V. 48, p. 128, 527.) Boston & Albany .-Owns from Boston, Mass., to Albany, N. Y., 202 miles; numerous branches, 104 miles; leased lines, 83 miles; total operated, 389 miles. The Boston & Albany was formed (December, 1867) by the consolidation of the Boston & Worcester and the Western railroads. In 1889 obtained permission from the LeD'islature to issue o• $10,000,000 additional stock, $7,000,000 being for bonds due in 1892 and 1895 and the remainder for improvements. Stockholders of Sep. tember 24, 1890, had the right until January 5, 1891, of subscribing to $5,000,000 stock, payment for which is to be made a s follows: $10 on Jan. 5, 1891, and $90 on J an. 5, 1892, when the new certificates will be issued. Due improvem ent fund July 1, 1891, $278,010. Of the 7 p er cent bonds $305,611 were in the company's treasury July 1, 1891. cash dividends at the rate of 8 per cent y early have been paid for many years. Stock dividend of 10 per cent was paid in 1883 and of 3~ per cent in 1886. For the quarter ending September 30, 1891, gross earnings w ere $ 2,510,964, against $2,369,480 in 1890; n et, $704,332, aga inst $94fi, 847 ; surplus over charges, $483,842, against $733,534 in 1890 RAILROAD STOCKS A~D BONDS. JANUARY, 1892.J 1'7 Subscribers will confer a great f"avor by giving ln:unedlate notice of" any error discovered In these Tables. I RAILROADS. . . INTEREST OR DIVIDENDS. Bonds-Prinot• Miles Date Size, or A pal,WhenDue. For explanation of column headings, &c., see notes of of Par Out~~~ctfu_g Rate per When Where payable, and by Stocks-Last _ _ _ _ _ _ on first page of tables. Road. Bonds Value. ,- - - - - cent. Payable Whom. ·D ividend. Boston cl; Maine-( Oorwluded.)- Eastern RR. certs.of indobt.1 t M.,g.,s.f.,not drn.c Portsmouth Great Falls & Conway 1st mort .... c Boston&N. Y..Air-.Line-St'k,pref.(gu.N.Y.N.H.&H.) 1st mortgage .................................... c* Boston cl; Prov.--,Stock, l0p. c. guar. 99yrs., Old Col. Bonds to purchase branches,coupon or re~istered Funding bonds, not mortgage sink. fund .1890 .. c* Boston Revere Beach cl; Lynn-Stock................. 1~ts~~rJ~\t·op· &·siiore" ist· "mortgage;· guar· ~ .Bradford Bordell & Kinzua-lstmortgage ........ c Brailford Eldred cl; Ouba-lst mortgage............. Brooklyn Bath cl; West End-1st mort., series .A. ... c 119 73 54 50 68 .... .... . ... ···s 41 4 612 1st mortgage. series B .................... , . . . . . . . . 612 Brooklyn c1; Jirlghton Beach-1st mortgage ........ c 712 Brooklyn Elevated-lstmort., g., s. f., not drawn .. c* 6·9 2d mortgage, gold, sinking .fund, not drawn .... c* 6·9 Union Elev., 1st M.,$550,000 p. m., g ........... c* 10·5 2dM.,inc.,non•cum.,$1 5,000permile,gold.c* 10·5 Brooklyn cl; Rockaway Beach.-lst mortgage ...... c 312 Loanfor$350,000 .................................. 312 Buff. Brad. cl; PWs.-Gen. M. (10,000 acres land) .. r 26 Buff. N. Y. &Erie-Stock (7p. c. rent. N.Y. L. E.&W.) 142 B~J/a:'1r;ff,~!e; ·&-Pitis"b~;.g~Sioci.:~Ccim~oii.: ~~~ M~ Preferred 6 per cent non-cumulative .... _......... 304 R. & P. 1st M., Rochester to Salamanca, 108 m .c* R. & P. consol. mortgage, $20,000 per mile, g .. c* 1st general mortgage gold ($10,000,000) ....... c* R. & P., Equipment b'ds (cartrust) in4series.c* Lincoln Park&Charl. 1st M.for $350,000 gu. g .c* !!;!,flalo cl Southw.-lstM.g.int.gu.byN,Y.L.E.&W.c* 108 All .A.11 · ii 67 1876 $&£ $9,127,094 6 g. 1877 500 &c. 1,000,000 412 100 2 2,998,500 1,000 500,000 5 21g 100 4,000,000 1873 1,000 500,000 7 1888 1,000 1,665,000 4 100 850,000 3 i877 1,000 350,000 6 1886 289,000 5 1882 500 498,000 6 1881 1,000 500,000 6 1887 1,000 250,000 5 1 87 1,000 250,000 5 1887 1,000 500,000 5 1,000 1884 3,500,000 6 g. 1,000 1885 1,250,000 5 g. 1887 1,000 6,000,000 6 g. 1,000 1887 2,068 ,000 5 g. ... . 1,000 58,000 6 1891 250,000 1865 1,000 580,000 7 .... 100 950,000 312 1 1,000 2,380,000 7 .~~~ 100 6,000,000 .... 100 6,000,000 114 1881 1,000 1,300,000 6 g. 1,000 1882 3,920,000 6 g. 1,000 1887 2,421,000 5 g. 1,000 Var's 440,000 5,6 &7 1,000 1 89 5 g. 350,000 1877 50&c. 6 g. 1,500,000 isso Fiscal year ends now June 30, and report in V. 53, p. 255, showed the following: INCOME ACCOUNT FOR YEARS E IDING JUNE 30. 1888-89. 1889-90. 1890-91. $ $ $ Gross earnings ................. 9,012,325 9,151,069 9,216,222 Operating expenses and taxes. 5,975,607 6,276,777 6,807,751 M. & S. J. & D. A. & 0. F. & A. Q.-J. J . & J. J. & J. J. & J. J. & J. M. & S. J. & D. J. & J. J. & J. A. & o. M. & S. A. & 0. J. & J. M. & N. J. & J. M·. & N. Boston, at Office. do do N.H.,N. Y.N.H.&H.Co. N.Y., Lincoln Nat. Bank Boston, at Office. do do do do Boston. Boston, Office. do do LastCOUJ.>.paidJune,'84 Last paid July, 1884. Phila., 122 So. 4th St. do do Mar. '90 coup. last.paid. N. Y., Cent. Trust Co. do do do do do do Brooklyn, 1st Nat. B'k. N. Y., 36 Wall Street. Feb. 15,1892: F." ·&: ·A. N. Y.d~nion Trgit Co. Feb. 1, 1921 J. & D. Dec. 1, 1922' do do M. & S. Sept. 1, 1937 Various N. Y., Gallatin Bank. Various. J. & J. N. Y., Union Trust Co. Jan., 1939 J. & J. N. Y., First Nat. Bank. July 1, 190~ INCOME ACCOUNT. 1888-89. $ Total net, includ'g other income 4,579,667 Decluct- Sept. 1, 190& June 1, 1937 Oct. 1891 Aug. 1, 1905 Jan. 1, 1892: July 1, 1893 July 1, 1918 Jan. 1, 1892: July 15,1897 Sept. 1, 1906, June 1, 1932 Jan. 1, 1932' Jan. 1, 1907 Jan. 1, 1916 Sept. 1, 1927 Oct. 1, 1924 July 1, 1915May 1, 1987 Jan. 1, 1927 May 1, 1909' 1889-90. $ 4,963,978 1890-91. $ 4 ,951,311 2,576,381 Rentals . . . . . . . . . . . . . . . . . . . . . . . . . 2,933,517 2,018,290 580,544 Interest on bonds............... 982,224 356,941 Other interest................... 109,853 150,757 181,077 100,000 Sinking funds................... 37,095 68,381 Net earnings ................ 3,036,718 1,042,211 2,874,292 2,408,471 Dividends....................... 1,329,030 630 1000 Dediict(912c.; 3 pf.) Rate of dividend ........... ~.... (9c.; 6 pf.) (9) Interest paid ........ __ ......... 662,900 662,900 662,900 Eastern RR. proportion........ 436,000 Rentals......................... 78,000 78,000 78,000 Dividends (8 per cent) ......... 1,600,000 1,600,000 Total......................... 4,503,406 1,600,000 4,449,893 4,578,802' Balance ......................... Sur. 76,261 Bur. 514,085 372,50~ Total ...•................... 2,340,~00 2,340,900 2,340,900 -(V. 52, p. 164, 321,349,795; V. 53, p. 21, 289, 834, 879.) Balance, surplus............... 695,818 533,392 67,571 Boston & Ne-w- York Line.-Owns from New Haven, Conn.,. -(V. 50, p. 245; V. 51, p. 84, 206, 273, 416, 457, 681; V. 52, p. 322, to Willimantic, Conn., 50 A.Ir miles; leases Turnerville to Colchester, 4 718; T. 53, p. 187,255,270, 674.) miles; total operated, 54 miles. Formerly the New Haven Middletown Boston & Lowell.-Owns from Boston to Lowell, 27 miles; & Willimantic. A lease was made in October, 1882, to the New York branches-Salem and Lowell, 17 miles; Lowell and Lawrence, 12 miles; New Haven & Hartford Railroad for 99 years at 4 per cent dividend& others, 32 miles; Middlesex Central, 11 miles; leases-Manchester & per year on the preferred stock and interest on the bonds. Common Keene RR., 29 miles (owned jointly with Concord & Mon. RR.); Central stock authorized $1,000,000; outstanding $838,000 ; par, $100. Massachusetts, 104 miles; Connecticut & Passirmpsic, 147 miles; total Boston & Provldence.-Owns from Boston, Mass., to Providence. leased, 280 miles; total owned and leased, 369 miles. R. I., 44 miles; branches, 20 miles; leases, Attleborough to North AttleThe Connecticut & Passumpsic RR. is leased for 99 years from Janu- borough, 4 miles ; total operated, 68 miles. Leased for 99 years from ary 1, 1887. .A. lease of the Boston & Lowell and all its branches to the April 1, 1888, to Old Colony RR. at 10 per cent yearly on stock and a Boston & Maine for 99 years was effected in 1887 at 7 per cent on stock bonus of $1,300,000 cash, out of which an extra dividend of $32 50 wae till January, 1897, and 8 per cent thereafter. paid on stock May 2, 1888.-(V. 46, p. 480; V. 49, p. 718.) Bonds for $1,000,000, due April, 1932, with interest at not exceeding Boston Revere Beach & Lynn.-Owns narrow-gauge road 7 per cent, have been authorized to retire $1,000,000 bonds falling due from Lynn to East Boston, Ma s., 9 miles connecting with Boston by April 1, 1892. In Jan., 1892, it was voted to issue $400,000 stock for company's ferry boats; Boston Winthrop & Shore RR., East Boston to improvements. •winthrop, 5 miles, with branches 3 miles. On July 1, 1891, consolDividends since 1880-In 1881 and 1882, 4 per cent; in 1883, 5; in idated with the Boston Winthrop & Shore Road. Notes payable June,. 1884, 512; in 1885 and 1886, 6; in 18871 612; in 1888 and since at rate 1891, $215,000; notes receivable, $75,000. In year ending June 30, of 7 per cent yearly. 1891, gross earninis 'Ye.re $308,178; net, $111,705; interest, $21,Fiscal year ends September 30. No report issued since 1886. (V. 52, 000; taxes, $16,45::>; dividends, $52,500; surplus, $15,368. l'• 84.) Bradford Bordell & Kinzua.-(3·foot gauge)-Owns Bradford, Boston & Maine.-Owns Boston to Portland, Me., via Dover, N. Pa., to Simpson, Pa., 15 miles; branches to Rew City and Eldred, 14 H:t 116 miles; Boston to New Hampshire State (Eastern Railroad), 41 miles; total owned, 29 miles. Leases Simpson to Smethport, 10 miles; mi.les; Conway Junction, Me., to North Conway, N. H., 73 miles; nu- total operated, 39 miles. Stock is $500,000; par, $100. In December. merous small branches, etc .. 86 miles: total owned. 316 miles. Leases- 1884, default in interest was made, and in January, 1891, George L. New Hampshire State Line to Portland, Me., via Portsmouth, N. H. Roberts was appointed recetver. See V. 52, p. 164. In year ending (Eastern Railroad in New Hampshire and Portsmouth Saco & Ports- June 30, 1890, gross earnings were ~124,957; net, $44,761; interest. mouth), 67 miles ; Boston to Sherbrooke, Canada. (Boston & Lowell, $29,880; rentals, etc., $27,879; deficit, $12,997.-(V. 52, p. 164.) Nashua & Lowell, Northern New Hampshire, Connecticut & Passumpsic Bradford Eldred & Cuba.-Operates Eldred to Wellsville, N. Y. and Massawippi Valley railroads), 290 miles; Worcester, Mass., to Rochester, N. H. (Worcester Nashua & Rochester), 94 miles; North Cam- 33 miles, of which 4 miles owned. Stock, $480,000; par, $100. There are also 2d mortgage bonds for $60,000, 6s, which were due June 1, bridge Junction to Northampton, Mass. (Central Massachusetts), 99 miles ; branches, 344 miles; total leased, 894 miles ; total operated 1885. Foreclosure suit begun in February, 1885. Reorganization in progress, securities being deposited with Continental Trust Co. of Sept. 30, 1891, 1,210 miles. For terms of leases see each company. In 1890 a consolidation was made with the Eastern RR. of Mass. and New York. In year ending June, 30, 1890, gi:oss earnings were $47,840; net, $9,475 ; deficit under charges, $29,918. Total deficit to the Portsmouth Great Falls & Conway, on terms in V. 50, p. 589. Authority to consolidate with its other leased lines was granted in July 1, 1890, $235,543. Thos. C. Platt, xteceiver, 82 Broadway, New York.-(V. 46, p. 537; V. 51, p. 569.) 1891. Company owns $2,264,375 Maine Central stock. Brooklyn Bath & West End.-Owns double-track road from Stockholders of record June 24, 1891, were entitled to subscribe to $4,656,400 new stock at par. The terms include ten monthly pay- Brooklyn (Union Depot), Fifth .A.venue and 36th Street (terminus ments of $10 per share each, the last being due May 20, 1892. When UnionElevated R.R.), via Bath BeachandBensonhurstto Coneyislandp half these payments have been made half the stock will be issued. This 612 miles. Reorganized in 1885. Increase of stock from $500,000 stock is issued to fund the floating debt and to pay for improvements. (par $100) to $600,000 was authorized in June, 1891, for improvements. See V. 52, p. 164, 349. The company's common stock when this issue is In year ending June 30, 1891, irross earnin~s were $1v3,065 ; netp outstanding will be $17,802,300, of which $502,000 is held by the $18,760; taxes, $3,917; interest, $'291792; deficit, $14,948. President, trustees of the Eastern RR. and draws no dividends. The stock in J. M. Butler, 119 South Fourth Street, Philadelphia. table above is given as it will stand when all issued. Brooklyn & Brighton B each.-Owns double-track road from Dividends on common stock since 1880:-In 1881 to 1885 inclusive, 8 Atlantic .A.venue corner Franklin .A.venue, Brooklyn, to Brighton per cent; in 18 6, 912; in 1887, 10; in 1888 and 1889, 9; in 1890, May, .Beach, N. Y., 712 mile . Successor to the Brooklyn Flatbush & Coney I. 412; November, 5; in 1891, May, 4¼; November 412. sold in foreclo sure in October, 18 7. Stock is-common, $500,000; On preferred stock (formerly Eastern preferred) 6 per cent yearly has pr<3ferred, $500,000. In year ending June 30, 1891, gross earnings been paid since 1887. were $116,482; net, $47,011; intere t, $36,280; taxes, $10,494; other There w ere outstanding Sept. 30, 1891, $594,800 412 per cent Charles- payments, $28,918; deficit, $28,182. President, J Jourdan, Brooklyn• town land mort,gage notes due 1895 and $3,029,000 other notes. Brooklyn Elevated.-Owns from Fulton Ferry and Brooklyn • From Oct. 1, 1890, to June 30, 1891 (9 months), gro s earnino-s were $10,818,751, against $10,570,622 in 1889-90; net, $3,559,598, Bridge via York Street, &c., to East New York, 634miles; Broadway and against $3,558,900; surplus over charges, $890,249, against $764,263. Lexington Avenue to Broadway Ferry, 234 miles, and Myrtle Avenue to Report for year ending September 30, 1891, was in CHRONICLE, V. 53, Adams Street and Brooklyn Bridge, 434 miles; branch to Greenwood, 3¼ miles; total, 18 miles. In Oct., 1890, consolidated with the Union Elev. p. 834. Earnings and expenses below are for the whole system. The capital stock is $13,283,600 (par $100). If net earnings suffl.~e, a EARNINGS .AND EXPENSES. sinking fund of one per cent will purchase 2d mortgage bonds if obtam.1888-89. 1889-90. . 1890-91. able at 90 and first mortgage bonds at 105-no bonds drawn. The Brooklyn Bridge & Seaside RR. company was organized in 1891 to 1,210 lilies operated.................. 1,210 1,210 extend the lines of this company. Earnings$ $ $ The Union Elevated first mortgage is for $7,000,000; the second for $2 500,000; trustee of both, Central Trust Company. See abstracts in Passenger............ . . . . . . . . . . . 6,885,048 7,347,201 7,514,771 Freight.............. . . . . . . . . . . . . 6,203,431 7,118,583 7,011,127 v.' 49, p. 583. Application in full to New York Stock Exchange was in CHRONICLE, v. 48, p. 129. See also V. 49, p. 471. 625,907 Mail, express, &c. . . . . . . . . . . . . . . 573,329 656,764 July 1 to Sept. 30, 1891, gross earnings were $407,822, against $396,277 in 1890; net. $162,949, against $156,190; surplus over charges, 15,091,691 Total gross earnings ............ 13,661,808 15,182,662 10,567,213 Operating expenses and taxes .. 9,479,465 10,728,685 $5,434, against $10,243. For year ending June 30, 18tH, gross earnings were $1,759,208; ne~ 4,524,478 Net earnings . ..... . . : ...... 4,182,342 4,453,977 $756,731; fixed charges, $632,500; surplus over charges, $124,232. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 18 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~STORS' SUPPLEMENT. [VoL. LIV. MAP OF THE BUFFALO, ROCHESTER AND P.I TTSBURG R'Y -------·-·- ----·-·-·-·-·---·-·-·' --· JANUARY, RAILROAD STOCKS AND BONDS. 1892, J 19 -. ·- ---- - -- - - -- =========-=--==:=====--:---====-----=--===== Subscribers will confer a great favor by giving Immediate noitce of any error dlseovered In these Table•. I RAILROADS. Mil D te I Biz INTEREST OR DIVIDENDS. Bonds-Prin&.• ea a e, or A t · pal, When Due t ~oili For explanation of column headings, &c., see notes of of I Par Rate per When Where Payable, and by Stocks-Last O on first page of tables. R0ad. Bonda Value. u s an ng Cent. Payable Whom. Dividend. Burlington 0edar Rapids & Northern-lat mortgage Iowa City & West., lat M., red. at 105, guar ..... c Ced. Rap. I. F. &N. W., lstM. g., guar.,red. at 105 Do. consol. 1st mortgage, gol~<j; guar ........... c Consol. 1st M. & collat. trust, g.,. 15,000p.m.c*Jrr Minneapolis & St. Louis, 1st mortgafe (assumed) <Jalqary re Edmonton.-lst M., red. at 10,Julyl,96 -Oatjt;o7--nia Pacific-lat mort., gold (ext'd in 1887 .. 2 M.,J.old, endorsed by Cen. Pac., exten. in 1891 3dmo .,g.,guar.ba,Cent. Pac. ($1,000,000are3s) '<Jambria re 0tear"fi,el .-1st M. for $2,000,000 g .. c* 0amden & Atlantic-Stock ($880,200 of it Kiref.) .... lat mortgage (extended 20 years in 187 ) ...... c* 2d mortgage .. . ................................... c* Consol. mort. ($150,000 are 5s reg., int. at office) c* Phil. Marl. & Med. lstM.gu,red. aft.July 1, '96.c 0amden & Burlington 0ounty.-lst mortgage .... c• 0anada Atlantic-lat mortgage, gold ............. c* Oanada Southern-Stock .......•.................... lat mort., interest guar. by N. Y. C. & Hud. Riv .c :2d mortgage ...........•........................ c&r Canadian Pacijfo-Stock (guar. 3 p. c. div. till '93). --- --369 73 55 408 All 12 300 114 114 114 60 79 79 79 79 12 31 142 436 404 404 .... .Can.Cent.RR.1st and 2dmorts., lstM.s.f.,dr.at105 .... :3uebec Prov. due on ~ M. O. & O. and N. 8. RR. . ... an. Pacific, land mo , gold (redeem at 110).... . ... 1st mortgage debenture sterling ................ 2,856 1st mort. on Algoma Branch .....•.......... c*&r 183 Ld. gr. bds, not dr'n, int. gu. by Can. Gov't.c*&r .... Consolidated perpetual debenture stock ........ Manitoba 8. W. Col R'y $12,000 p. m., int. guar.g 2i·s Atlantic & N orthwest-lst mort. gold, guar .. c* &r 325 North Shore Railway-1st mortgage .....•••••• ••• Bt. Lawrence & Ottawa-1st mortgage .••••••••••• ·54 1876 $100&c. $6,500,000 J. & D. N. Y., Central Trust Co. June 1, 1906 5 7 g. M. & 8. 584,000 do do Be~t. 1, 1909 1879, 1,000 1880 1,000 825,000 6 g. A. & 0. do do Oc. 1, 1920 1881 1,000 1,905,000 5 g. A. & 0. do do Oct. 1, 1921 5 g. A. & O. Apr. 1, 1934 1884 'l,O00&c 5,313,000 do do 1877 500 &c. 150,000 7 g. J. & D. June 1, 1927 do do 1890 London. July 1, 1910 £100 £1,140,400 6 g. j_ & J. 1867 1,000 $2,232,000 4¼g. J. & J. N.Y., 8.Pac.Co., 23 Br'd. Jan. 1, 1912 1871 1,000 1,600,000 4¼g. J. & J. do do Jan. 1, 1911 1875 do do July 1, 1905 500 2,998,000 3g. &6g. J. & J. 1891 1,000 5 g. J. & J. Phila., Of., 233 8. 4th St. Jan. 1, 1941 750,000 50 1,258,100 3onpref. · ..... Phila., Of., 233 S.4th St. Dec. 9, 1889 i853 1,000 490,000 7 g. J. & J. Philaa:-arm. & B'k. Dec. 31, 1892 1879 1,000 Oct. 1, 1899 497,000 6 A. & 0. 1881 1,000 July 11, 1911 do 500,000 5 &6 J. & J. do 1891 1,000 100,000 J. & J. Phila., Of., 233 8. 4th St. July 1, 1911 5 1867 500 &c. F. & A. Phila., Penn. RR. Co. Feb. 1, 1897 350,000 6 1889 1,000 Jan. 5, 1909 3,450,000 5 g. J. & J. New York Cig. 100 15,000,000 114&¼:x:F. & A. N. Y., Gr'd Cent. e~ot. Feb. 1, 1892 i878 1,000 13,923,600 5 J. & J. N. Y., Union Trust o. Jan. 1, 1908 do do Mch. 1, 1913 1883 l,000&c 5,349,000 5 M. & 8. .... 100 65,000,000 212 F. & A . N. Y., 59 Wall St. &Lon. Feb. 17, .1 892 £100&c 1,823,333 5 &6 Various Montreal. 1899 & 1910 '82-;83 do 7,000,000 A. & 0. 1902 & 1904 5 1881 500.&c. 3,437,500 5 g. A. & O. Montreal,N. Y.or Lond'n Oct. 1, 1931 1885 £100&c 34,998,633 5 g. J. & J. London, Baring B. & Co. July 1, 1915 do do 1888 £100& C July 1, 1937 £750,000 5 g. J. & J. 1888 £100& C $15,000,000 do do July 1, 1938 3¼g. J. & J . 1889 £3,519,530 4 J. & J. London, Comp'ys office. Irredeemable 1884 1:000 $2,544,000 5 g. J . . & J. N. Y., 59 Wall & London June 1, 1934. 1887 £100&0 £1,130,000 5 g. J. & J. London, Baring B. & Co. Jan. 1, 1937 do do Apr. 20, 1904. £99,600 A. & 0. 5 London. £5O&c (6) 4 15J.&D. June 15, 1910 i876 £200,000 lf In 1889-90 gross, $1,574,489; net, $649,g09; surplus over charges• $95,942. Henry W. Putnam, President. (V. 51, p. 207, 608, 715; V· 52, p. 80, 280, 762; v. 53, p. 256, 603.) Buff'alo BradCord & Plttsburg,-Owns from Carrollton, N. Y., t.o Gllesville Pa., 26 miles. Completed in 1866, and leased to New York Lake Erie & Western for 499 yea.rs. Rental, 7 per cent on out. 11ta.ndlng bonds, $40,600 a year. Capital stock, $2,286 ,400; par $100. Buff'alo N e-w York & Erle,-Owns from Buffalo, N. Y., to Cor• Ding, N. Y., 142 miles. Leased in 1863 to the New York & Erie for 490 years, and now operated by the New York Lake Erie & Western Comny. Rental, $238,100-viz., 7 per cent on stock and bonds and ,000 for organization expenses. Dividends and interest paid directly y the lessees. Bnff'alo Koche8ter & Plttl!lburg Kallway.-(SuMap.J-Owns Rochester, N. Y., and Buifalo, N. Y., to Walston, Pa. (except 40 miles of trackage mentioned below and here deducted), 215 miles; branches to mines, 12 miles. Proprietary roads owned: Lincoln Park & Charlotte Railroad, 11 miles; Brockwayville & Punxsutawney Railroad, 25 miles; Perry RR., 1 mile. Trackage-New York Lake Erie & Western, Howard Junction, Pa., to Clarion Junction, Pa., 36 miles; Buifalo Creek Rail• road 4 miles ; total operated, 304 miles. Thls company was formed in March, 1887, as successor of the Rochester & Pittsburg1 which was foreclosed in October, 1885. In .April, 1890, a controlling interest in the stock was purchased by a Buifalo syndicate, headed by the Bell, Lewis & Yates Coal Mining Company, which company guarantees to ship over the road for the next 11.ve years not less than 500,000 tons of coal annually. The Rochester & Pittsburg Coal & Iron Company also, whose entire stock is owned by this company, is to ship over it not less than 750,000 tons yearly. .See V. 50, p. 560, 589. The preferred stock is $6,000,000 (entitled to 6 per cent dividends, non-cumulative), and common stock, $6,000,000; par $100. In 1892 paid 114 per cent Feb. 15. Of the general mortgage (trustee Union Trust Company of New York) for $10,000,000, there are $6,000,000 reserved for prior bonds. '.rhere are also $8,000 incomes, due in 1921, mortgages on real estate for $295,500, due in 1895, and $20,000 Perry RR. guaranteed 7s due 1902. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $1,253,221, against $1,043,277 in 1890; net, $414,180, against$298,581. Fiscal year ends June 30. In the following the figures for 1889-90 and 1890·91 are for the year ~nding June 30; all others for years ending .September 30. . The report for 1890-91 was in V. 53, p. 752. 1889-90. 1890-91. 1887-88. 1888-89. $ Receipts$ $ $ 1,913,172 2,511,484 Gross earnings ....... 2,001,156 2,021,591 674,697 675,858 Net earnings......... 447,671 574,826 45,974 30,673 Other income........ 30,934 15,969 e Total receipts ..•. 478,605 590,795 720,671 ----706,531 Interest on bonds .... on floating debt. R entals .... . •...•.•.•. 400,350 14,818 74,431 4.37,452 4,992 74,099 .(88,650 700 lU,125 4'96.357 15,841 72,984 Deduct'[nt. 585,182 Tot. disbursem'ts 489,599 516,543 633,475 *121,349 Bala.nee ........•... .. def.10,994 sur.74,252 sur. 87,196 • * Of this amount $46,88i was spent for betterments, &c. President, Arthur G. Yaioes, Rochester, N. Y. (V. 51, p. 240, 645, 828; V. 52, p. 239,707; V. 53, p. 224, 7 52.) Duff'alo & Soutk-western,-Owns from Buffa.lo to Jamestown, N. Y., 67 miles. In July, 1880, leased to the New York Lake Erie & Western for 99 years-at 35 per cent of gross earnings, but interest on bonds guaranteed. Rental in year ending June 30, 1891, $149,558; surplus over dividends, $9,700; in 1889-90, $138,334. Stock-common, $471,833 (of which Alleghany Valley Railroad owns $235,916), and $471,833 of 7 per cent preferred; par, $100. Common stock sha.reR di. vidends after 7 on preferred. ln 1889 and 1890 paid 8 por cent on preferred and 1 on common; in 1891 8 on pref. and 1 on common. Bnrll~ton Cedar Rapids & Northern,-On January 1, 1891, ,operated from Burlington, Iowa, to Albert Lea, Minn. (including 11 miles leased), 253 miles; brancheR-Linn, Iowa, to Postville, Iowa, 94. miles; Mm1oatine, Iowa, to Riverside, Iowa, 31 miles; Vinton, Iowa, to Holland, Iowa, 48 miles; Iowa City to What Cheer and Montezuma, 73 miles; Clinton DiviRion, 81 miles; Decorah DiviRion, 23 miles; Iowa Falls Division, 430 miles; Waverly Division, 6 miles; Forest Division, 7 miles; total operated, 1,046 miles, of which 402 miles owned and 64.4 miles leased. Since end of fiscal year the Davenport r. & D. Railway has been acq_uired, Davenport to Bennett, on Clinton Divi.:1ion, 31 miles; also other mileage 5, makin~ total operated 1,082 miles. This company has a perpetual lease of those lines (included above) built hy the Iowa City & WeRtern, the Cedar Rapids Iowa Falls & North Western, the Cedar Rapids & Clinton and the Chicago Decorah & Minnesota. Successor to the Burlington Cedar Rapids & Minnesota, foreclosed June 22, 1876. Iowa City & Western bonds are guaranteed as to interest and are subject to call at 105. Bonds of the Cedar Rapids Iowa Falls &North wei:1tr .ern Road ar~ endorsed (endorsement is on the bonds) ; the 6 per cent -bonds are subJect to call at 105. Ol the 5 per cents $825,000 are re~erved https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis to retire the 6 per cents. The company guarantees the above bonds. The Central Trust Company is trustee of the consolidated mortgage, which will retire all prior and divisional bonds. Stock outstanding 1a $5,500,000; authorized issue, $30,000,000; par $100. From January 1 to Nov. 30 in 1891 (11 months) gross earnings were $3,491,383, against $2.997,877 in 1890; net $1,122,393, agst. $753,098. Annual report in V. 52, p. 640, gave net income, &c., a.1 fe>llows: INCOME ACCOUNT. 1887. luceipt•$ Gross earnings ...•.•• 3,005,962 Net earnings......... 780,057 Other receipts....... 95,789 1888. $ 2,848,076 771,-4e47 61,282 1889. $ 2,986,543 808,609 96,308 1890, $ 3,303,982 816,U7 105,256 Total income..... 875,846 832,729 904,917 g21,403 Interest ondebt...... Const'n, equip., &o... 767,127 140,067 771,130 247,669 771,130 154,128 775,479 150,314. Disbursements- Tot. cllebunem'ts 907,194 1,018,799 925,258 925,793 Balance ..•...•....... def.31,348 def.186,070 def.20,341 def.4,390 -(V. 48, p. 661,687; V. 50, p. 4a22, 702; V. 51, p. 275; V. 52, p. 640.) CallCornla PacUlc,-Owns from VallEUo, Cal, to Sacramento, Cal., 60 miles; branches to Calistoga, &o., 55 miles; total, 115 miles. In November, 1886, leased for 50 years to Southern Paci11.o Companr. Rental, $600,000 per annum and three-fourths of net earnings when m excess of that amount. Capital stock, $12,000,000; par, $100. In 1890 gross earnings, $1,364,372 ; net, $509,346 (against $484,694 in 1889) ; rental, $600,000 (deficit to lessee, includi~g betterments, $109,697); paid interest, etc., $364,922; surplus to lessor, $235,077; paid on account of judgment lien $200,000; balance, $35,077.-(V. 51, p. 786, 910.) Cambria & Clearfteld.-Under construction from Cresson on the Pennsylvania RR. into the coal fields of Cambria, Clearfield and Indiana counties, Pennsylvania. Stock-authorized, $2,150,000 (par $50); paid in, $750,000, all owned by the Pennsylvania RR. Co. The bonds are free of all taxes imposed by the State of Pennsylvania or the United States. .A full abstract of the mortgage was in V. 52, p. 976. -(V. 52, p. 973, 976.) Camden & A.tlantlc.-Owns Camden, N. J., to .Atlantlo City, and branch, 62 miles; Atlantic City to Longport, 6 miles; Philadelphia Marlton & Medford Railroad-Haddon:fleld to Medford, 12 miles; Chelsea Branch RR., 1 mile; ferries, 2 miles; total operated, 83 miles. Preferred stock is entitled to 7 per cent if earned, and to as high as paid to common if more than 7. Pennsylvania Railroad owns $234,100 common and $451,950 preferred stock, and there was due that company J!~~•~ito: J~iJ:i!~g;• On common, in 1882, 3 per cent, and none since; on preferred, in 1881, 3111 in scrip; in 1882, 4; in 1884, 7; in 1887, 5; in 1888, 2111; in 1889, 3; none since. From January 1 to Nov. 30, 1891 (11 months), groee eal'nings on main line and branches were $761,170, against $760,665 in 1890; net $167,716, against $149,379. On main lfne and branches 1n 1889 gross earnings were $737,144; net, $145,291; surplus over fixed charges, $39,035; dividends (3 per cent), $26,403. In 1890 gross earnings, $799,491; net, $130,705; interest, $92,620; other charges, less credits, $25,959; surplua, $12,126.-(V. 50, p. 621; v. 52, p. 569,) Camden & Bu rli ngton County.-Owns from Camden, N. J.hto Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount Ho y, 7 miles; total, 30 miles. Operated by the Pennsylvania Railroad, Lease rental, $44,415, being 6 :ver cent on stock and bonds. Stock. $381,925; par $25. Dividends m January and July. Cn 1890 gross, $265,809; net, $76,745, against$67,658 in'89; profit to lessee, $32,330. Canada A.tlantlc,-Owns Ottawa Canada, to Rouse's Point, Vt., 142 miles, with trackage over Central Vermont to St. Albans, 24 miles. Has traffic contract with the Canadian Pacific and " Boo " route. Extension to Parry Sound projected. Trustee of mortgage is Farmers' Loan & Trust Company. The bridge across the St. Lawrence was completed Feb. 15, 1890. Stock, $2,000,000 common, and $1,000,000 preferred. Cn year ending June 30, 1891, gross earnings were $558,831; net, $221,077. In 1889-90 gross, $567,235; net, $225,146. (V. 51, p. 493.) Canada Southern.-LINE OF ROAD-Main line from Cantilever Bridge to Windsor, Ont., 226 miles; branch, Amherstburg to Essex Centre, 16 miles; Fort Erie Branch, 17 miles; Oil Springs Branch, 3 mileR; St. Thomas.I.. Ont., to Courtright, Ont., 63 miles; Erie & Niagara, 31 miles; Sarnia vhatham & Erie, 7; Canada Southern Brid~e & Ferry, -!.; Toledo Canada Southern & Detroit, 56, and Michigan Midland & Canada, 15; total of all lines operated, 436 miles, of which 105 mlle_s are nominally owned by proprietary companies under separate orgam• zations. The Canada Southern Railway Company was chartered in Canada Fehruar.y 28, 1868, and debt readjusted by Act of Parliament in 1878. lnterest on the 1st mortgage is guaranteed by the New York Central RR. Co., till 1898; but the principal is not ~uaranteed. In November, 1882, a close contract was made with the M10higan Central tor 21 years rrom Jannary 1, 1883, providing for the payment to Cana~a Southern of one-thi_rd the _joi!lt income over all fixed c_harges, but Mich. Central, by reduct10n of 1tsmterest charges, now receives more tha.n two-thirds INVESTORS' SUPPLEMENT. [VOL. LIV. Subscribers will confer a great :favor by giving llnJDediate notice o:f any error discovered In these Tables. Bonds-Prinoi· INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or pal,When Due. Par O~t~~g Rate per When Where Payable, and bY Stocks-Las1; of For explanation of column headings, &c., see notes of Road. Bonds Value. Cent. Payable Whom. on first page of tables. Dividend. --- Oanadian Pacific-( Concluded.)- Ontario & Quebec stock guaranteed ............... Ont. & Que. debentures, interest guaranteed ...... Toronto Grey & Bruce, 1st mortgaffe .............. Op. Fr. dl Yad Val-1st M. ser. A, 1 ,OOOp. m.c*&r 1st M., Ser. "B," $10,000 p.m. (2d on 233 m.)c*&r 1st mort., series C, (2d mort. on 225 miles.) .. c*&r Consolidated mort,e. (interest payable if earned) Oarolina Oent.-lst . (Wilm. to Shelby, 240 m.).c* 2d and 3d mort!ages, 01d, income, non•cumul .. r Oarolina Oumb. ap dl hic.-lst M., rld . .... c*&r Oarson dl Oolarado-lst M., Ser. "A," " "and "0.''. Oarthage dl .Adirondack-1st mort. for $800,000 ... 2d mortga:ffi:e for $800,000 . ........................ Oatawissa- ref. stock, 7 per cent. guar. P. & R .... 8 rai~~~e ~~~~!simiea.·by Plillac:tei.liia· & Rea<i:: l OaJuga dl Jus~Stock, 9 c. rental~. L. & W . . , . Oe ar Falls <f: inn.-Bon son 2d div. sink. funv t * Oent. Br. U. P.-lst M. Atch. & P. P. RR. g., gol< .. c Fund int. (mort.) bds. (coup. held in trust) go1d.c 2d mo~age (Government subsidy) ............... Oentral assachusetts-lst M., int. gu. by B. & L.c* Oent. New England dl Western-1 st morw:age, g .. c* General mort~age for $5,000,000, gol ......... c* Oentral Ohio-S ock ($411,550 of this is preferred). o~~~y}.~}l~~~~~~. ~f~~ ~~~~~.~·.~~?:-. ~~.1~~ ·::. ·. ·.: 1st 'M.,ser. A to .I, incl., gold (2 sink. f'ds) not dr'n 1st M. S. Joa~n_Val. Br., g. (~.f.$50,000),not drawn U. ·s. Loan (2 llen on certarn terms) gold ........ ....... ·-·$100 $2,000,000 6 per an. J. ·& D. Montreal and London. Dec., 1891 ........ . ..... £4,007,381 5 J. & D. London, Morton, Rose. Irredeemable. £100 190 1883 £719,000 4 J. & J. Toronto and London. July 26, 288Z 150 1886 $1,000 $1,500,000 6 g. J. & D. N.Y., Farm. L. & Tr. Co. June 1, 1916 1,000 734,000 6 g. J. & D. do do 75 1886 June 1, 1916 1,000 820,000 83 1886 6 g. J. & D. do do June 1, 1916 338 1891 1,853,700 6 1911 2,000,000 240 1881 6 g. J. ..&.. J. Balt.,F'n1ers'&.Plant.Bk July 1, 1920 1:000 240 1881 1,000 2,700,000 6 g. J. & J. 1910 & 1915 New.York.City. 25 1882 1,000 375,000 6 g. M.&N. Nov. 1, 1912 299 '81-'88 1,00_0 4,380,000 New York. 6 J. & J. 1911,-'13-'18 1,000 771,000 43 1883 6 M.&N. Phil.Fidelity Ins. &c. Co. May 1, 1923 43 1889 1,000 153,000 F. & A. do do Feb. 1, 1925 6 97 50 3,200,000 312 M.&N. Philadelphia Co.'s office NOT. 19, 1891 93 i870 500 &c. 1,300,000 F. & A. Philad~hila.& R£td. Co. Aug. 1, 1900 7 1882 230,500 6 F. & A. Aug. 1, 1902 ..30 ·34 ..... 589,110 412 J. & J. New York, 52 Wall St. Jan. 2, 1892' 61 1866 500 &c. 1,377,000 7 J. & J. Last paid July, 1887. Jan. 2, 1907 1,000 1,600,000 100 1865 6 g. M.&N. N.Y.,195 B'y & U.Tr.Co. May 1, 1895 1,000 100 1879 630,000 7 g. M.&N. do do May 1, 1895 1,600,000 100 '66-7-8 1,000 U.S. Treas., at maturity. 1896, '97, '98 6 1,000 A:°i,:·o. Boston Co.'s office. Oct. 1, 1906 2,000,000 99 1886 5 1,000 53 1889 2,500,000 6 g. M.& S. Phila. Fid. Ins. & Tr. Co. Sept. 1, 193~ (1) 53 1891 500 &c. New York A ency. 4 g. M. & 8. 1991 137 .... 50 2,860,048 3 J. & J. Balt., at B. & . office. Jan. 30, 1892' 1,000 137 1886 2,500,000 412g M. & S. N. Y., Union Trust Co. Sept. 1, 1930 100 67,275,500 1 F. & A. N.Y., S.Pac.Co., 23Br'd. Feb. 1, 1892 ---- ..... 737 1865-8 1,000 6 g. J. & J. do do 1895,'96,'7 &'8 146 1870 1,000 6;080,000 6 g. A. & 0. do do Oct. 1, 1900 737 .... 25,883,000 6 g. J. & J . United States Treasury. 1895 to 1898 ---- 6 •s.••····· I --·· I, Dividends · since 1880-In 1881, 212 per cent; in 1882, nil; in 1883 and 1884, 2; in 1885 and 1886, nil; in 1887, 1888 and 1889, 212; tn 1890', 312; in 1891, 212; in 1892, Feb., 134, of which 12 extra. , .. From 1890's earnings the surplus to Canada Southern was $355,633 (against $407,000 in 1889.) The preliminary statement for 1891 show.ed estimated surplus to C. S. $451,000 and dividends $450,000. (V. 53, p : 968.) For latest reports of earnings see Michigan Central. V. 49, p. 825; V. 50, p. 833, 904; V. 51, p. 909; V. 52, p. 898,973; Vol. 53, p. 968.) · · Canadian Paclfic.-Owns main line from Montreal to Vancouver on ·the Pacific Coast in British Columbia, 2,907 miles. There are branches and auxiliary lines owned of 1,095 miles, and 1,702 miles of leased line; 56 miles used jointly; 549 miles operated independently for account of owners; also the Calgary & Edmonton RR. under construction, 300 miles, making the whole system, including the New Brunswick Railway, 6,609 miles. (See details in CHRONICLE, V. 52, p. 799.) The road was opened throughout the first of July, 1886. In July, 1890, leased the New Brunswick Railway, 423 miles.-(See V. 51, p. 113.) In April, 1891, a traffic arrangement was made with the New York Central for the running of through freight trains over the West Shore tracks to New York City. A new bridge is to be built across the St. Lawrence at Brookville in order to connect with the N. Y. Central. See V. 52, p. 534. The Canadian Pacific was incorporated February 18, 1881, under a oharter from the Dominion of Canada. The company had an important ·contract in its charter, receiving from the Government $25,000,000 in oash as a subsidy, also $25,000,000 acres of land, all to be flt for settlement. In November, 1883, the Dominion Government gave a guarantee ·of 3 per cent dividends per annum till Aug., 1893, on $65,000,000 stock. Price ·of stock: In 1883, 48 7s@6512; in 1884, 39@5814; in 1885, 3534@ -6314; in 1886, 61 @73; in 1887, 4912W683s; in 1888, 5114@62 14; in 1889, 4712@75; in 1890, 67@84 14; in 1891, 72 14@9112; in 1892, to Jan. 22, inclusive, 9212@9412. Dividends since 1882-In 1883, 212 per cent; in 1884, 5; in -1885, 4; from 1886 to 1889 inclusive, 3 per cent yearly; in 1890, 5, of 'which 2 per cent was snpplementaryout of earnings; in 1891, 5 (of which 2 p. c. supplementary); in 1892, Feb., 212. See V. 50, p. 37. In Mayt 1888, the company voted to relinquish its exclusive right to build ana. operate in Manitoba, receiving the Dominion Government guarantee of interest on $15,000,000 of land grant bonds. These b'onds for £3,093,700 are a lien on 14,674,916 acres of land subject only to $3,438,,?500 land grant bonds of 1881, which are redeemable at 110. The nrst issue of consolidated debenture stock (£903,375) was made in October, 1889 (see CHRONICLE, V. 49, p. 116), and in 1890 a further amount of £1,000,000 was put out; in 1891 this stock was still further increased. It is proposed to acquire the Calgary &Edmonton RR., and to issue··debenture stock to retire its bonds. In June, 1890, company agreed to guarantee the principal and interest of $20,000,000 4 per cents, to be issued by the Duluth South Shore & Atlantic;·also 4 per cent interest on bonds of the Minneapolis St. Paul & Sault Ste. Marie. (See V. 50, p. 874; V. 51, p. 239; V. 521 p. 608.) To the Atlantic & Northwest Railroad, crossing the Stai;e of Maine the Dominion Government grants a subsidy of $186,000 per year till 1906 and Canadian Pac,iflc guarantoos the balance of money necessary for interest. · The lan.d s unsold December 31, 1890, were 15,245,963 acres of Canadian Pacific grant and 1,242,996 Mres of Manitoba Southwestern grant. From J'anuary 1 to Nov. 30 in 1891 (11 months) ~oss earnings were $18.,?326,282, against $15,483,825 in 1890; net, $7,127,4.63, · against $5,~74,837. · The annual report for 1890 in full in the CHRONICLE. v. 52, p. 760, 797, showed the following: 1888. 1889. . *1890. Miles o:tierated December 31 .. 5,075 5,029 5,568 Jilarn1,ngs. . $ $ $ 3,800,884 4,520,741 4,774,714 8,017,314 8,852,202 10,106,644 M~, expr'ss and miscellaneous 1,377,338 1,657,717 1,671,171 .~:t:::t.~~·:.·.·::.·. _._. .·::_.:·:::::::_. Total earnings .............. 13,195,53'6 Operating expenses............ 9,324,761 Netearnings ............ : ....... 3,870,775 Per ct. of oper. exp. to earn'gs. 70·66 INCOME ACCOUNT. 1888. $ ·Net earnings. . .................. 3,870,775 .Fixed charges.................. 3,544,351 Supplementary dividends ... _. . ...... . Balance .................. ·-· 326,424 15,030,660 9,024;601 16,552,529 10,252,828 6,006,059 60·04 6,299,700 61·94 1889. $ 6,006,059 3,779,133 650,000 1890. $ 6,299,700 4,"246,617 1,300,000 1,576,926 753,083 * Including New Brunswiok Railway since September 1. -(V. 51, p. 172,239,534; Vol. -52, p. 570,608, '760,776, 797.) Cape Fear & Yadkin Valley.-In operation from Wilming · ton, N. C., to Mount Airy, 248 miles; Fayetteville, N. 'J, to Bennettsville, S. C., 57 miles; Factory branch, 19 miles; Madison and Granite branches, 14 miles; total, 338 miles. Exwnsion to Virginia State line is graded. The first mortgage (trustee Farmers' Loan & Trust flompany) is in three series, each series having a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis first lien on one division of the road and a second lien on the otne r two divisions that are subject to the mortgage. Series "A" bonds are a first mortgage on road from South Carolina State line to Greensboro. Series "B" bonds are a first mortgage on road from Greensboro to Virginia State line. Series "0" bonds are a first mortgage on road from Fayetteville to Wilmington. New consolidated bonds at $15,000 per mile have been executed to take up the prior bonds, build extension, &c. North State Improvement Company was entitled to second mortgage income bonds on main line and branches. but the new cqnsols will be given instead. Stock authorized, $3_,000,000; outstanding, $1,972,642 (par, $100). . . From July 1, 1891, to Dec. 31 (6 months) gross earnings were $300,171, against $306,664 in 1890; net, $106,761, against $133,335. In year ending June 30, 1891, gross earnings were $589,829; net, $239,458; obligatory interest charge, $183,240. (V. 53, p. 7 52,). Cape Girardeau South-w-est.-SEE ST. Lours OAPEl G. & F. S. Carolina Central.-Owns from Wilmington, N. C., to Rutherfordton, N. C., 267 miles, and branch, 9 miles; total, 276 miles. Defaulted in 1876 and sold in foreclosure May 31, 1880. Controlled by Seaboard & Roanoke and Raleigh & Gaston. Stock, $1,200,000. In year endin~ .June 30, 1891, gross earnings were $612,306; net, $184,831; interest,. rentals, &c., $161,447; surplus, $25,429. There are also $212,000 first mortgage 7 per cent Wilmington Railway Bridge Co. bonds, due October 1891 to 1897, and $46,000 second mortgage 5s , due 1898-1900, both issues being guaranteed by the Carolina Central, the Wil. Col. & Aug. and the Wil. & Weldon roads. (V. 53, p. 712.) Carolina CuJDberland Gap & Ohlcago.-Owns road in operation from Aiken to Edgefield., S. C., 24miles, and projected to Abbeville,. 42 miles additional. Leasea. from May 1, 1890, to the receiver of the South Carolina Railway. Rental, $18,750 per annum. There are also $375,000 second mortgage bonds. Carson & Colorado.-(3-foot gua~e.)-From Mound House, Nev., to Candelaria, Nev., 158 miles; Junction, Nev., to Keeler, Cal., 140 miles; total, 299 miles. Stock, $6,380,040 authorized; $2,760,000 issued. No information furnished. H. M. Yerington, President; Carson, Nev. Carthage & Adirondack.-Owns from Cartha"'e to Benson Mines, N. Y., 43 miles. Stock $500,000, par $100. The Magnetic Ore Company gu~rantees the first mortgage bonds. In year ending June 30, 1891, gross earnings were $105,070; net, $54,857; charges, $64,851 ; deficit, $9,!)94. Cata'Wlssa.-Owns from Tamanend, Pa., to Williamsport, Pa., 93 miles; branch, Summit Station to Silver Brook, 4 miles; total operated, 97 miles. Leased from November 1, 1872, for 999 years to Philadelphia & Reading. Rental, 30 per cent of gross earnings and $8,000 a year for company expenses. Funded debt was assumed by lessees. There are also chattel mortgage 5s due 1900 $24,500; 7 per cent construction bonds due June 1, 19171 $62,000, and other bonds, $185,000. Seven per cent is guaranteed on i;he preferred stock, of which $2,200,000 is first preferred. The common stock is $1,159,500. nar $50. (V. 48, p. 799.) Cayuga & Susqueh~nna.-Owns from Susquehanna River to Ithaca, N. Y .• 34 miles. Charter expires in 1899: Leased till then to Delaware Lackawanna & Western at a rental of $54,600 a year. Dividends in 1891, 912 per cent. Cedar Falls & 1'.llnnesota.-Owns from junction near Cedar Falls, Iowa, to Minnesota State Line, 76 miles. Leased to Dubuque & l!!ioux City for 40 years from January 1, 1867, at minimum rental of $113,370 per annum. In 1887 a suit was brought to annul the lease of this road, and in October, 1890, the United States Circuit Court decided-lease was va}id. See V. 51, p. 493. Case has been appealed to the United States Supreme Court. Interest was defaulted January, 1888. The Dubuque & Sioux City is now controlled by the Illinois CentraL Stock, $1,586,500, par $100. From July 1, 1890, to December 31, 1890 (6months), gross earnings were $5-t,747, against $50,529 in 1889; deficit, $14,015, againsi $31,964. In 1889-90 gross earnings were $27,941 ; deficit under operating expenses and taxes, $39,649. J. J:{ennedy Tod, President, New York. (V. 51, p. 493; V. 52, p. 427.) Central Branch Union Paclfic.-Owns from Atchison, Kan., to Waterville, Kan., 100 miles; leases Atchison Colorado & Pacific, 254 miles; Atchison Jewell County & Western, 34 miles; total operated, 388 miles. This company was formerly the Atchison & Pike's Peak RR. and had a United States subsidy of $1,600,000. Controlled by Union Pam.fie, but leased to Missouri Paciflc for 25 years from Sept., 1885; rental, net earnings. The stock is $1,000,000 (par, $100) , of which the Union Pacific owns $858,800. From Jan. 1 to Nov. 30 (11 months), gross earnings were '$773,918 In 1891, against $918,893 in 1890; net, $170,420, against $200,114. In 1889 gross earnings $854,960 ; net income, $250,417; deficit under oharges, $280,377. In 1890, gross, $974,472; net, $198,413; defloii under charges, $316,361. Dividends: In 1885, 5 per cent; in 1886, 10; in 1887, 10; none since. Central 1'.lassachusetts.-Owns North Cambridge to Northampton, Mass., 99 miles. Formerly the Maseiachusetts Central, sold in foreclosure September 1, 1883. The stock is $7,367,200 (par $100), of which $3,946,922 is preftirred. Leased to Boston .& Lowell for 99 yea.rs ft-om October 1, 1886, at a rental of _20 per cent of gross earnings up to $1,000,000, but with a guarantee of sutticient rental to· pay interest. New issue of $2,000,000 bonds proposed. V. 53, p. 753. --~ ;;, •_I ( ~ ai ~ 0 ~ A z ~ 00 ~ 0 0 ~ 00 ~ ~ 0 ~ 1 ~ Jj; C MAP OF ,...., ....~ THE CENTRAL NEW ENGLA.ND ~ WESTERN RAILROAD ;~ AND ITS CONNECTIONS. ~ ·POUGHKEEPSIE BRIDGE. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CROSSING THE HUDSON BY THE INVESTORS' SUPPLEMENT. (VOL, LIV. Subscribers -will conCer a great Cavor by giving lm.m.edlate notice oC any error discovered In these Tables. Bonds-Prtnol INTEREST OR DIVIDENDS. RAILROADS. pal, When Due. Miles Date Size, or Amount of Par Rate per When Where Payably, and by Stocks-Last For explanation of column headings, &c., see notes of Dividend. on first page of tables. Road. Bonds Value. Outstanding Cent. Payable Whom. Central Pacific-( Oont.J-Western Pacific, old issue 1st mortgage, series A & B., g-old ...... .... ...... 147 147 123 296 296 Western Pacilic, Government lien, gold . .. . .. ..... Cal. & O. 1st M., ser. A, g. (exte'd) } s. f.$100,000 Do do ser. B, g. (exte'd) not drawn. Land grant 1st M., ~old, guar., extended in 1890. Mort. fld, 5s, 193 , ld. gr.,guar., s. f., not dr'n.c 1,26i Central R. & Banking Oo. of Georgia-Stock ...... General mortgage "tripartite" bonds ........... c* 620 Consol. mort. for $13,000,000,&old, red. at 110.c~ 311 Collateral trustbonds,gold,re eemable atllO . c• Certs. of debt, payable at option after July, 1891 .... Ocean 88. Co. 1st M., ~ar .. : ..................... c Savannah & Atlantic st mortga e, assumed... c• ..ii Cent. RR. of N. Jersey-Stock ($30, 00,000 author.) . . - . Bonds, secured by consolidated mortgage of 1874 97 Consolidated mortgage (now first mortgage) ... c* 97 Convert. debentures convert. into stock till 1907 Long Branch & Sea 8hore, 1st mortgage, guar .. c* "ii N. J. Southern 1st mortgage .......... ......... . c* 78 N. Y. &L'gBranch lstM., red.in1899 at 110, g.c* 38 Gen. mort. for $50,00~,000, ~old .............. c,&r .... Cent.RR.of N.J.-Lehigh Coa & Nav.,m.,g.,ass d. Am.Dock&Imp.Co.lstM.,guar.,redeem.atllO.c" Cartrusts ......................................... Oentral of South Oarolina-lst mor1age'f1old .... c '¥0 Central of Vermont-Consolidated R . of t. 1st M. 185 Centralia <I: Oheste1·-lst M. for $1,680,000, 5.old.c* .... Char. O.& Ohic.-Ser.I,$4,500,000,red.aft.'9 ,at103 ...... Series II, con. mort., for $35,000 p.m ............. Old 1st M., !old, ($25,000 p. m.) to be retired .. c* i75 Charleston & avannah-Gen. M. ($1,500,000, g .. c~ 121 1st and 2d pref. inc., $1,000,000 each, non-cum .. 121 Oharle.<1fonSumter &North.-lstM.,g-.,$15,000p.m.e 138 --- · 6 ---· ---· -----1865 $1,000 1869 1869 1868 1872 1870 1889 is72 1890 1887 1881 1890 1890 is72 1874 1883 1869 1879 1882 1887 1867 1881 1882 1881 1883 1889 1891 1891 1887 1886 1886 1890 1,000 1:000 1,000 1,000 1,000 100 1,000 1,000 1,000 100 1,000 500 &c. 100 1,000 1,000 1,000 1,000 600 1,000 500 &c. 500 &c. 1,000 1,000 1,000 100 &c. 1,000 ---·-- 1,000 1,000 1,000 1,000 Central Ne-w En~land & Western.-(See Ma,p.J - Owns from Campbell Hall across tne Hudson River at Poughkeepsie to Silvernails. 53 miles; leases Hartford & Conn. Western, Hartford to Rhinecliff, 108 miles, and operates Pou~hkeepsie Bridge line, 312 miles; total, 164 miles. Company organized m July, 1889, by a consolidation of the Hudson Connecting Railroad and the Poughkeepsie & Connecticut Railroad. The lease of the Hartford & Connecticut Western runs until September 1, 1940, at 2 per cent per annum on the stock ($2,635,700) and interest on the bonds. Both mortgages covers the road from Campbell Hall to Silvernails, excepting line of Pou~hkeevsie Bridge Company ; also real estate equipment, &c.; the rights m the lease of the Hartford & Connec~c~t Western Raih·oad and 13,900 sh~res of that company'a stock. Fidelity Insurance Trust & Safe Deposit Co. of Phil- trustee. The first mortgage bondholders have agreed to exchange their holdings for the new general 4s, and to waive all interest for two years. In Jan., 1892, a negotiation with Philadelphia & Reading was about completed for control of the Pougkeepsie Bridge. For Poughkeepsie Bridge, see that company, under "Miscellaneous.'' Stock, $1,600,000, par, lfilOO, all owned , by Del. & New England RR. For the year ending June 30, 1891, gross earnings were $626,556; net, $162,555; total income, $181,933; fixed charges, $187,123; deficit, $5,190. John S. Wilson, President, 115 Broadway, N. Y. (V. 51, p. 276, 457; v. 52, p. 40, 498, 795.) • Central Ohlo.-Owns from Bellaire, Ohio, to Columbus, Ohio, 137 miles. The road between Newark and Columbus (33 miles) is owned jointly with the Pittsburg Cincinnati & St. Louis Railroad Co. Leased to the Baltimore & Ohio till 1926, with option of renewal by the lessee; rental, 35 per cent of gross earnings, with minimum guaranteed rental of $166,000. In 1889-90 gross earnings, $1,408,214; net $309,809, against $280,137 in 1888-89; loss to lessee, $213,365, against $192,895. Dividends on common stock since 1880 have been: In 1881, 612; from 1882 to Jan. 1, 1892, both inclusive, 6 per cent yearly. (Y. 48, p. 70; v. 51, p. 205; v. 52, p. 204.) Central Pacific.-( See Map of Southern Pacijtc.)-LINE OF Ro.AD.-Main Line-San Francisco, Cal, to Ogden, Utah (including 11 miles leased), 883 miles; Lathrop to Goshen, 146 miles; Roseville Junction to Oregon State Line, 296 miles ; other lines, 35 miles; total operated and accounted for January 1, 1891, 1,360 miles. THE CHARTER, LEASES, &c.-The Central Pacific was a consolidation (August 22, 1870) of the Central Pacific (organized October 8, 1864) and other railroads. This company received the Government subsidy, but interest is not payable to the Government till the bonds mature. The "Thurman" act of May 8, 1878, directed that the charges for Government transportation should be withheld, and also that the company should pay $1,200,000 yearly to the Government for the sinking fund of its debt, or enough thereof to make all the payments equal 25 per cent of the net earnings each year. See V. 50, p. 276. January 1, 1891 accrued interest due the Government amounted to $27,489,664, and par value of securities in U. 8. Government sinking fund was $3,878,000. In March, 1885, the Central Pacific lines were leased to the Southern Pacific Oompany. The Central Pacific receives all its net surplus income above annual char~es of every sort and betterments, and this net surplus income is guaranteed to be not less than$1,360,000 yearly, this sum being applicable to the payment of dividends. STOCK AND BONDS-Dividends: In 1877, 8 per cent; 1880, 6; 1881, 6 ; _1882, 6; 1883; 6; 1884, 3; 1888, 2; 1889, 2; in 1890, 2 ; in 1891, 2; m 1892, Feb., 1 per cent; The sinking funds are invested mainly in the bonds of other tributary lines and accumulate; the bonds are not called in. The sinking :funds amounted January 1, 1891, to $8,330,337. The 5 per cent mortgage bonds of 1889 are guaranteed principal and interest by the Southern Pacific Company; t~e mortgage is for $16,000,000, the Metropolitan Trust Co. of N. Y. bemg trustee. (V. 49, p. 340.) There are still outstanding $56,000 6 per cents (interest A. & 0.), due Oct. 1, 1936. The land grant bonds due October 1, 1890, were extended till October 1, 1900, at 5 per cent and stamped with the Southern Pacific Company's guaranty of principal and interest. The Cal. & Oregon 1st bonds Series "B," due Jan. 1, 1892, were extended to Jan. 1, 1918. v. 53, p. 639. ' THE LA.ND GRANT.-The total land granted ilhe Central Pacific and the California & Oregon companies was about 12,000,000 acres, of which about 2,740,000 acres had been sold to December 31, 1890. Land con• tracts on h and J anuary 1, 1 891, $1,067,039; cash, $242,447; notes of Central Pac. RR., $2,500,000. OPERATIONS, FINANCE~, _&c.-First dividend _under the l ease was paid February 1, 1888, and diVIdends have been paid regularly since at rate of 2 per cent yearly. From ~an. 1 to Nov. 30, ;I-891 (11 mos.), gross earnings were $15,504,798, a§o-amst $14,683!529 m 1890; net, $7,089,279, against $5,647,576. In 1 90 gross earnmgs $15,937,004 (against $15,530,215 in 1889) · net, $6,061,987, ;:i,gainst $5,765,943 in 1~89; net profit under the lease: $999,222, of which $100,612 was set aside for cars worn-out prior to 1890; balance due from So. Pac. (to makl\ guaranteed rental) $461 389· guarante~d minimum r ental, $1,360,000; other income, $6:ooo; 'divi: dends paid (2 per cent), $1,345,510; surplus, $20,490. (V. 52, p. 126, 794; v. 5 ~, p. 604., 639.) $111,000 2,624,000 1,970,000 5,982,000 4,358,000 3,564,000 11,000,000 7,500,000 4,999,000 7,000,000 4,880,000 4,600,000 1,000,000 250,000 22,412,000 1,167,000 3,836,000 550,000 197,000 411,000 1,500,000 34,960,000 2,310,000 4,987,000 103,000 300,000 7,000,000 (1) (1) (1) 7,345,000 1,236,000 2,000,000 2,070,000 6 g. 6 g. 6 g. 5 g. 6 g. 5 g. 5 g. 3¼ ' 7 5 g. 5 g. 6 2 g. D -J. & D. N.Y., S.Pac.Co.,23Br'd. J. & J. do do Various United States Treasury. J. & J. N.Y., S.Pac.Co., 23 Br'd. J. & J. N.Y.,S.Pac.Co.&London A. & 0. do do A. & o. N. Y. & San Francisco. J. & D. N.Y.,Sec.& Tr.Co.& Sav. J. & J. N. Y., Security & Tr. Co. do do A. & O. do M.&N. do Savannah, Ga. J. & J . J. & J . N. Y., Security & Tr. Co. M. & S. Savannah, Ga. Q.-F . N. Y., Offloe, corner} M.&N. West & Liberta; Sts. Q.-J. do o M.&N. do do do do J. & D. J. & J. do do J. & D. do do do do See rem . J. & D. Phila.,Leh.C.&Nav. Co. J. & J. N. Y., Cent. RR. of N. J. A. & 0. Phila., Guar. Trust Co. J. & J . N. Y., John Paton & Co. J. & J. Boston, Am. L. & Tr. Co. J. & J . N. Y., Farm. L. & Tr. Co. semi-an . ................ semi-an. ................... Q.-J. Oct., 1890, last paid. J. & J. N.Y.,12 W.23 & Cha'st'n ll!i 7 7 6 7 6 5 g. 5 g. 6 g. 5 6 6 g. 5 5 g. 6 5 5 g. 7 g. ........ 7 6 g. A. & 0. ! ...................... .. ...................... Dec. 1, 1895-July 1, 1899 1895 & 1899'Jan. 1, 1918 Jan. 1, 1918'· Oct. 1, 1900, Apr. 1, 1939= Dec., 1891 Jan. 1, 1893: Apr. 1, 1937 May 1, 1937' After July, '91. July 1, 1920 Mch. 1, 1920 Feb. 1, 1892 Nov. 1, 1902 July 1, 1899 May 1, 1908 Dec. ~ 1899 July 1 , 1899' Dec. I, 1931. July 1, 1987' Dec. 15, 1897 July 1, 1921 April 1, 1892: July 1 1921 June 30, 1913: July 1, 1919' 1901 1941 July 1, 1947' Jan. 1, 193f> Irredeemable.. Apr. 2, 1910 Gordon to Milledgeville, 17 miles; Savannah to Tybee Island, IS miles; leases in perpetuity-Augusta & Savannah Railroad, 53 miles; Eatonton Branch Railroad, 22 miles; Southwestern Railroad and branches, 333 miles; leases till 1985 Mobile & Girard Railroad and extension, 135 miles; controls by ownership of stock-Savannah & West. RR., 628 miles; total operated and practically owned June 30, '91, 1,580 miles. Auxiliary system (the earnings of which are reported separately) includes, Western Railroad of Alabama, 138 miles; Georgia Railroad, 314 miles; Port Royal & Augusta, 112 miles; Atlanta & West Point, 87 miles; Port Royal & Western Carolina, 229 miles; Wrightsville & Tennille RR., 35 miles; Upson Co. RR., 16 miles; Macon & No. RR., 105 miles; Gainesville Jeff. & So. RR. 65 miles; embracing in all 1,094 miles. Grand total June 30, 1891, 2,681 miles. AlsoOcean SB. Co., estimated as equivalent to 300 miles of railroad. From June 1, 1891, this road was leased for 99 years to the Georlda. Paclfl.c Railroad Company (which in turn is leased to the Richmond' & Danville), a rental of 7 per cent yearly and the profits of the Central RR. Bank being guaranteed on the stock. The Richmond & Danville and the Richmond Terminal joined with the Georgia Pacific in a bond for $1,000,000 as a guarantee for the fulfilment of the terms of tho· lease. See. V. 52, p. 462, 862. The stock or this company is controlled by the Richmond & West Point Terminal, through its ownership of the Georgia Oompany, which see. V. 47, p. 499. Floating debt November 1, 1891, was adjusted by a loan of $3,500,000 for one year made by a syndicate on pledge of $7,000,000 of the consolidated 5 per cent bonds. See 53, p. 674. The company guarantees the following: Chattanooga Rome & Columbus first mortgage 5s, $2,240,000; Columbus & Rome and Columbus & Western 1st 6s, $1,000,000; Macon & Northern 1st 412s. $2,200,000 (jointly with Richmond & Danville); Mobile & Girard 1st mortgage, $1,000,000; Montgomery & Eufaula 1st 6s, $1,500,000; Port Royal & Augusta 2d mortgage 6s, $112,000; Savannah & Western 1st consol. 5s, $7,755,000; Western of Alabama. 1st 412s, $1,543,000 (jointly with Georgia RR. & Banking Company). See also statement for each of above companies. Car trusts and locomotive notes June 30, 1891, $1,439,389., Dividends since 1881-In 1882, 8 per cent; in 1883, 712; in 1884,. 5¼; in 1885, 4; in 1886, 6; from 1887 to December, 1890, both inclusive, at rate of 8 per cent per annum; in June, 1891, 312, and thereafter guaranteed 7 per cent per annum. In 1881 the Georgia RR. was leased for 99 years in the interest of" this company and the Louisville & Nashville, which operate it o:n joint account. Owns,jointly with the Georgia RR. Co., the Wes tern RR. of Alabama, 138 miles. For abstract of collateral trust mortgage of 1887' (Central Trust Co. of New York, trustee), see V. 45, p. 242. The con-• solidated mortgage was authorized in 1890; see abstract, V. 51, p. 571h Fiscal year ends June 30. Report for 1890-91, in V. 54, p. 32, gavenet earnings for 11 months only, up to the date of lease. The result of the operations of the entire system, embracing an average of 1,666 miles (including the steamships), for the eleven months ending May 31, 1891, are given below, the figures of the corresponding. periods for two previous years being also given for comparison: 11 Mos.,'89. 11 Mos.,'90. 11 Mos.~91 •. July 1 to May 31. Av. M.,1,511. Av.M.,1,570. Av.M.,11066 •. Gross receipts .................. $7,167,468 $8,122,603 $8,644,793. Exp., taxes and betterments.. 4,821,595 5,931,815 6,416,271 Net income ................. $2,345,872 $2,190,788 $2,228,522 -(V. 51, p. 84, 571, 'JI 3, 720; V. 52 p. 462,761,862, 939; V. 54, p. 32,. 33, 78,0 Central KK. oC Ne-w Jersey.... See MapJ-Operates 660 miles ·ot railroad, of which 156 miles are ow, 1ed, the remainder bein~ mostly pr<>prietary lines or operated under 991)-year leases. In addit10n owns ferries and steamer lines, 21 miles; in nu 681 miles. ORGA.NIZA.TION, ETC.-Chartered in 1849. From May, 1873, to Janu1, 1887, leased to Philadelphia & Reading. Receivers were in possessio:J?, from January 1, 1887, till January, 1888, when the road went back to its owners. The terms of reor~anization, etc., were given in the CHRONICLE V. 44, p. 714, 716. Dividends were resumed August, 1889, and increased to llli quarterly in August, 1891. STOCK A.ND BONDS.-The capital stock authorized is $30,000,000. In June, 1891, $3,727,800 stock was sold at par to stockholders toprovide for expenditures theretofore made for improvements new equipment, etc. See V . 52, p. 862. Dividends since 1882: In 1883, 112 per cent; in 1 884, 412; in 1889, 3 ;.: ln 1890, 6; in 1891, 612; in 1892, February, 134. . Price of stock in ~883, 68 14@90; in 1884, 3712@90; in 1885, 31@52; m 1886, 42_14@64; m 1887, 55~@86 14; in 1888, 7312@9514; in 1889, 92 34@131; m 1890, 90@12812; m -1891, 10>.Q14@122 34; 1n 1892, to January 22 inclusive, 111121v11714. Of the general mortgage of 1 887 (see abstract of mortgage V. 45, p,. 402) $8,635,100 are reserved for other issues. Interest on the general mortgage coupon bonds is payable J. & J., on the registered bonds Q..-J. Trustee of consolidated and general mortgages is the Central Trust Company of New York. Central Railroad & Banking Cornpany oC Georo-fa.-(See EARNINGS, FINANCES, &c.-The earning capacity of this company haa. Map.J-Owns from Savannah, Ga., to Atlanta, Ga., 294 miles; branch, increased rapidly since the reorganization in 1888. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Olinton " ~ l!agnolia. JI ~ ~0 ~ A ~ t1.l ~ 0 f 0 ~ t1.l ~ A ~ + I (, ~ 0 MAP OF THE RAILROAD SYSTEM OF THE --, CQ m CENTRAL RAILROAD ~ BANKING CO . T-1 § 1-) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AND L F ·o F OF GJµOBGI.A • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. LVOL, LIV, <C ~· "' ~ ?'!' .'ZI MAP OF THE CENTRALIA & CHESTER RAILROAD COMPANY JANUARY, RAILROAD STOCKS AND BONDS. 1892.] Subscribers -will confer a great favor by giving hnIDediate notice of any eri·or discovered in these Tables. 1Jonds-Pr1no1INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or When Due. Amount Rate per When Where Payable, and by pal, of Par Outstanding For explanation of column headings, &c., see notes of Stocks-Last Road. Bonds Value. on first page of tables. Dividend. Cent. Payable . Whom. Charlotte Oolumbia & Augusta-Stock ..• - ..•. - ...... 1st mortgage consolidated ... ___ ................... 2d mortgage ........................................ Consol. mort., gold, for $3,000,000, see remarks.c Okartiers-lst mort~ge ............................ c Ohatt. Rome cf: Ool.- ome & Carrol. 1st mort. gold. 1st, gold, guar. $16,000 per mile ................ c* Income bonds, non-cumulative ............. - .... -~ 01',atta1woga Southern-1st M. ($15,000 p. m.) .... c* Chattanooga Union-Union Railway mortfages ... Chat. Un. consol. mort. for $600,000, god ..... c* Union Def.ot bonds ................................. Ohes.cf: Nas .-lstMPg.,$25,000p.m.,s.f.,notd'rn.c* Ohesapeake di: Ohio- urch. money funding bonds. c* 1st mortgage, gold, series "A" ................ - .c* 1st mortgage, gold, of 1911, Peninsular Extens.c* 1st mort., gold, of 1922, on ext. (for$3,000,000)c"' 1st consol. mortfage for $30,000,000, gold .. c*&r Genl. mortg., go d (for $70,000,000) .............. & All ls~~onsol. M., g1d, (Se~~~-~~~~~!::~~~ Do 2d consolidated mortgage, aold ... -........... Crai~ Valley branch 1st M., gol ................ c* ~mpment trust bonds ......................... c* e~heny Car Trust, Series A, Band C ........... Eqmpment notes ................................... Elevator Co. 1st M., prin. &int. guar. by C. & O.c .. Income, 2d mortgage, for $500,000 non-cum.c* Ohes. Ohio di: Southweste1-n.Paduc. &Eliz.,lstM.,s. f., dr'n at 100($300,000 8s) 1st mortgage, fold ($19,000 per mile) .......... c• 2d mortgage ( 11,000 per mile) ................ c* Equipment trustbondsfor$2,000,000, not dr'n.c* R!g~· 8 --- i9i i869 191 1872 1883 1871 1885 1887 .... 1887 96 1889 .... '85-'87 .... 1888 .... 23 22 140 "35 i887 428 503 75 8 655 655 256 256 256 26 .... 1878 1878 1881 1882 1889 1892 1890 1890 1890 1890 Var. ---· .... .... .... isss .... 1888 186 352 352 .... 1877 1881 1881 1882 $100 $2,578,000 500 &c. 2,000,000 1,000 500,000 1,000 500,000 1,000 500,000 100 &c. 150,000 1,000 2,090,000 1,000 1,400,000 1,000 1,440,000 1,000 200,000 1,000 400,000 ..... 150,000 1,000 875,000 1,000 2,287,000 1,000 2,033,729 1,000 2,000,000 500 &c. 142.000 1,000 22,175,000 ..... 1,000 1,000 1,000 1,000 1,000 (1) 1:000 1,000 5,000,000 1,000,000 1,000,000 650,000 412,000 286,000 1,008,667 820,000 315,000 1,000 1,000 1,000 1,000 500,000 6,176,000 3,865,000 617,000 .... --- 1 N. Y., Fourth Nat. Bank. June 1, 1889 J."·&-·J. 7 do do Jan. 1, 1895 7 A. & 0. do do Oct 1, 1902 July 1, 1933 6 g. J. & J . do do A. & 0. Philadelphia, Penn. RR. Oct. 1, 1901 7 6 g. J. & J. N. Y., 8. Borg & Co. Jan. 1, 1916 5 g. M. & S. N. Y., Security & Tr. Co. Sept. 1, 1937 Sept., 1937 6 ··&·:o. N. Y., CentraiTi-ust Co. Dec. 1, 1919 ~ g. J. J. & J. N. Y.,Farm.L. &Tr.Co . J'y,'05-Jan.'07 July 1, 1918 6 g. J. & J . do do 1920 do do 6 J. & J . 5 g. F. & A. N. Y. Office, Mills Bldg. Aug. 15, 1937 6 g. J. & J. N. Y.,Drexel,Morg.& Co. July 1, 1898 July 1, 1908 do do 6 g. A. & 0. Jan. 1, 1911 do do 6 g. A. & 0. June 1, 1922 do do 6 g. J. & D. May 1, 1939 do do 5 g. M.&N. March, 1992 412 M. & S. Jan. 1, 1989 N.Y.,D1:exe1:Moi·g.& Co. 2-4 g. J. & J. Jan. 1, 1989 do do 4 g. J. & J. Jan. 1, 1989 do do 4 g. J. & J. July 1, 1940 do do 5 g. J & J .. Various. do do g . Various do do Various ········· do do 6 4 g . A_-·&···O. N.Y.,Drexel,Morg.& Co. Oct."· "i938 Oct. 1, 1988 4 Oct. 1. ····"····· g 1; IF. 6& 8 & A. 6 g. F. & A. 6 F. & A. 6 J. & J . N. Y., 23 Broad St. do · do do do do do Feb. 1, 1897 Aug. 1, 1911 Aug. 1, 1911 Yearly to 1892 From January 1 to Nov. 30, 1891 (11 months) gr-oss earnings were lien on the property, and will be issued at $12,000 per mile, to be $13,046,359, against $12,486,829 in 1890; n-et, $5,584,245, against used for completing road, &c. The second series will be consolidated 5 per cent bonds issued at $5,405,154. · the rate of $35,000 a mile, aggregating about $13,000,000. Of these, The report for 1890, in full, was in V. 52, p. 222, 236, 240. EARNINGS AND EXPENSES. $7,345,000 will be used to exchange for the present bonds, bond for 1888. 1889. 1890. bond, and sufficient reserved to retire the first series. See V . 52, p. ·973, Receivers' certificates for $230,897 to pay claims on Earnings$ $ $ 7,051,524 equipment were authorized in Aug, 1891. Stock, $6,567,000; :Qar value, 5,899,119 Passenger and freight............ 5,398,290 6,725,696 7,344,539 $100. From .J an. 1 to Oct. 31, 1891, gro ss earnings were $133,242, Anthracite coal . . . . . . . . . . . . . . . . . . . 7,500,653 253,736 349,343 against $103,791 in 1890; deficit in 1891 under expenses, $23,690. Mail, express, etc . . . . . . . . . . . . . . . . . 278,530 General offices of the company, 45 Broadway, N. Y. (V. 52, p. 203, Total gross earnings ...... ·.... 13,177,473 13,497,394 14,126,563 349,680,795,862,973;Vol. 53,p. 156,186. 7,531,737 8,161,276 Operating expenses and taxes.... 7,204,068 Charleston & Savannah.-Owns from Savannah, Ga., to Charlesleston Junction, S. C., 104 miles (except 7 miles trackage), and branch to 5,965,287 Youngs, leased, 6 miles; operates-Ashley River branches, &c., 8 miles; 5,965,657 Net earnings . . . . . . . . . . . . . . . . . . 5,973,405 INCOME ACCOUNT. Charleston Junction to Charleston, 7 miles ; total operated, 125 miles. 1889. 1890. 1888. This was first the Charleston & Savannah RR.; reorganized in 1866 ,$ Receipts$ $ under name of Savannah & Charleston, and opened March, 1870. Sold 5,965,288 in foreclosure June 7, 1880, and present company organized. Stock, 5,965,658 Net earnings...................... 5,973,405 837,293 $500,000. From Jan. 1 to June 30, 1891 (6 months), gross earnings 799,238 Income from in-vestments ........ 1,507,159 322,753 were $419.703, against $366,892 in 1890; net, $170,659, against $120,Premium account ................ . ---····· 930. In 1890 gross, $682,740; net, $157,728; surplus ov~r charges, 6,764,896 7,125,334 $63,152. Paid 112 per cent on first incomes in 1889, 2 per cent in 1890 Total net income.............. 7,480,564 Disbursementsand 6 in 1891. H. B. Plant, President, New York . . (V. 52, D, 590.) Rentals paid. ...................... 1,862,127 1,890,381 1,819,815 Cha1·leston Suinte1· & Northern.-Operates from Pregnalls, Interest on debt................... 2,860,314 2,828,632 2,798,148 Dividends......................... . ..... • . (412)835,719 (6)1,117,092 8. C., to Bennetsville, 8. C., 120 miles, and branches, 18 miles. Qompleted July 6, 1891. Connects at Bennetsville with the Cape Fear & Total disbursements.......... 4,722,441 5,554,732 5,735,055 Yadkin Valley. Formerly the Eutawville RR. Receiver appomted Jan., Balance, surplus.............. 2,758,123 1.210,164 1,390,279 1892. Mortgage trustee is Atlantic Trust Co. of N. Y. Stock author-(V. 50, p. 139; 259,274,277; V. 52, p. 222,236,240,278,761, 862.) ized $12,000 per mil,r,; outstanding, $1,380,000; par, $100. New York office, 52 Wall Street. (V. 51, p. 239; 54, p. 158.\ Oentral of South Carolina.-Owns from Lane, S. C., to Sumter, Coluinbia & Augusta.-Owns from Charlotte, N. C.• B. C., 40 miles. Leased to the Northeastern and the Wilmington Colum- toCharlotte Augusta, Ga., 191 miles; leases Atlantic Tennessee & Ohio Rail• ltia & Augusta RR. companies jointly; rental $31,000 yearly. Stock road, Charlotte to Statesville, 44 miles; Cheraw & Chester, 29 miles, ..170,000, par $50. In year ending June 30, 1890, gross earnings, $115,223; net, $51,158; rental, $31,000; balance to le sees, one-half and Chester & Lenoir, 109 miles; total operated (including 10 miles of Western North Carolina), 373 miles. Controlled by Richmond & Dan-ea.ch, $20,158. ville since 1878, and in May, 1886, leased to that company for net Central VerIDont.-This company operates under lease tbe earnings. In case of any deficiency in net earnings to pay fixed charges following roads: Consolidated RR. of Vermont-Windsor to Rouse's the lessee may advance the funds, such advances to be secured· to Point, 158 miles; Essex Junction to Burlington, 8 miles; Swanton Junc- it by a mortgage lien inferior only to that of existing mortgages. The tion to Province, 11 miles; Rutland RR.-Bellows Falls to Burlington, $500,000 con.sols outstanding are guaranteed as to principal and inter120 miles; Addison RR.-Leicester Junction to Ticonderoga, 15 miles; est by indorsement by the Richmond & Danville; $2,500,000 of this Montreal & Vermont Junction-Province Line to St. Johns, 23 miles; issue is reserved to retire prior issues at maturity. Of the stock $1,S. 8. & Chambly RR.-8. S. & C. Junction to Waterloo, 43 miles; Ogdens- 300,000 was deposited by Richmond & West Point Terminal under its burg & Lake Champlain RR.-Rouse's Point to Ogdensburg, 118 miles; collateral trust deed·of 1889. Dividends in 1888, 4 per cent; in 1889, 2. New London & Northern RR.-Brattleboro to New London, 121 miles; From July 1 to September 30, 1891 (3 months), gross earnings· were Brattleboro & Whitehall RR. 1 36 miles; Montpelier & White River RR. $226,097, against $232,255 in 1890; net, $77,141, against $75,315. 13 miles; Burlington & Lamoille RR., 34 miles; Mississquoi Valley RR. In year ending June 30, 1891, gross earnings were $992,748; net, -St. Albans to :Richford, Vt., 28 miles; total, 731 miles, of which 100 $342,643; surplus above charges, $36,912. In 1889-90 gross $912,560; miles, New London to Millars' Falls have earnings reported separately. net, $255,497; def. after interest and rentals, $12,690. (V. 53, p. 843.) The Central of Vermont was organized ti, April, 1873, under a charter Chartiers.-Owns from Mansfield, Pa., to Washington, Pa., 23 miles. from Vermont. It bas no road of its own, but operates above mileage under lease. The Consolidated Railroad of Vermont was organized July Sold under foreclosure and reor~anized in 1867. Leased for 99 years from January 1, 1872, to the Pittsburg Cincinnati & St. Louis (now 1, 1884, embracing the former Vermont Central and Vermont & Canada Cincinnati Chicago & St. Louis); the rental is net earnings. properties, and was then leased to the Central Vermont. The stock of Pittsburg In 1890 gross $266,900; net, $123,106; surplus over fixed charges $99,the Consolidated Vermont is $750,000 preferred 6 per cent and $300,-000 common. Tbe stock of the Central Vermont is $1,000,000. Com- 610; dividfmds (512 per cent), $35,491; balance, $64,118. Capital pany owns.$1,612,500 stock of the Ogdensburg & Lake Champlain RR. stock, $645,300 (par $50), of which the Pennsylvania Railroad owns In September, 1888, leased the Missisquoi Valley Railroad at 4 per cent $333,850. · Dividends since 1880 as follows: 1881 to 1886, inclusive, on $500,000 stock, payable January l and July 1. The lease of the nil; 1887, 1888 and 1889, 5 per cent; in 1890, 512; in 1891, 712. Chattanooga Koine & Coluinbus.-Owns from Chattanooga to Rutland Railroad to the Central Vermont was extended for 999 years Oarrollton, 140 miles; branches to ore mines, 36 miles; total, 176 miles. 3 8 Zt~rB;$!~;~t ;&er~~a1J:~~,bl~~s~' ;lt~waL~~i~o~i'ira;~ife:; Successor in 1887 to the Rome & Carrollton Railroad. The stock of was voted (V. 53, p. 880), and a blanket mortgage of $20,000,000 4 per $2,800,000 (par $100), and all the incomes were purchased in May, 1891, -0ent bonds authorized, of which $15,000,000 were to take up prior by the Savannah & West. (Central of Georgia system) which guarantees -0bligationsastheymature,including about $1,000,000 of floating debt. by indorsement, the first mortgage bonds of 1887. See V. 52, p. 761; In 1889-90, on 631 miles, gross, $5,245,135; net, $1,609,107; charges, $150,000 bonds are held to retire same amount of Rome & Caretc .. $1,400,041; extraordinary expenditure $204,000; balance, $5,066. rollton prior bonds. In 1890 gross earnings were $360,846; net, $156,811. (V. 49, p. 269; V. 50, p. 243, 345; V. 52, p. 280, 761.) -(V. 47, p. 459; V. 49, p. 653; V. 51, p; 680,715; V. 53, p. 712.) Chattanooga Southern.-Completed in June, 1891, from ChatCentralia & Chester.-( See Map.}-Chartered to build from Ches· ter, Ill.~ _to Altamont, Ill., with branch to a point opposite St. Genevieve, tanooga, Tenn., via. Alpine, Ga., to Gadsden, Ala., 86 miles, with branches, 10 miles. The mortgage is for$2,000,000, butli,mited in issue Total aistance, 140 miles, including siding. Road completed and in ,operation between Sparta and Nashville, 25 miles, and graded between to_ $15,000 per mile of comp~eted road. Stock authorized ($15,000 per mile), $2,000,000; outstauihn~, $1,440,000. (V. 52, p. 973.) Nashville and Centralia, 20 miles. At Centralia connection will be made with the Illinois Central. Steel rails on hand and road to be Cll.attanooga Union.-Owns 43 miles of belt railroad in Chatta. •ompleted and in operation to Centralia in 1891. Bonds author- nooga Tenn., connecting the ten lines enterinis that city. In September, ized, $12,000 per mile, covering roadbed, equipment and terminal facil- 1891, the East Tennessee Virginia & Georgia oought a majority of the ities; stock issued and subscribed for like amount. The road is standard $1,000,000 stock. From January 1 to Sept. 30, 1891 (9 months), ~oss gauge and is being laid with 56-pound steel rails. earnings were $74,860, against $86,570 m 1890; net, $22,099, agamst Charleston Cincinnati & Chicago.-(See Map.)-Projected $33,789. (V. 53, p. 407.) Chesapeake & Nasl1.ville.-Road o~ed from ~allatin to ~cott_sfrom Charleston, 8. C. to Ashland, on the Ohio River, of which 175 miles between Camden, S. C., and Marion, N. C., is now in operation, forming ville, Tenn., 35 miles, and branch, Gallatm to Hartsville, 12 miles, m a through line, in connection with the South Carolina RR.. 290 miles progress. On December 8, 1890, Gen. John Echols was appointed re- · i n length, between Charleston, 8. C., and Rutherfordton, N.C. Local aid ceiver. See V. 51, p. 829. Stock, $1,050,000; par, $100. In year to the amount of about $1,500,000 was secured in exchange for an 1889-90 gross earnings were $49,876; net, $10,102; taxes, etc., $8,439; -equal amount of stock. In February, 1891, D. H. Chamberlain, re- balance, surplus, $1,662. Chesapeake & Ohio.-( See Mttp.)-Owns Old Point Comfort, Va.., .eiver of the South Carolina RR., was mane receiver. In June, 1891, a reorganization plan without foreclosure was pro- via Newport News and Charlottesville, to Big Sandy River, West Virposed under which the old bonds will be retired and two series of ~nfa,, 511 miles; Richmond to Clifton Forge, 230 miles; branches to aew bonds W1ll be executed. Series I for $4,500,000 will be a prior Lexington, up Craig's Valley, Warm Springa Valley, &o. 88 miles; ~Itt https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 28 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DiVESTORS' SUPPLEMENT. [Vor.. LIV.. MAP OF THE CENTRAL RAILROAD NEW JERSEY OF AND. CONNECTIONS. · 1 J.AiroABY, RAILROAD STOCKS AND BONDS. 1892,] well Furnace --------is,---------o o 'Pl'. V. nberry Jefferson Dobson Rei oWilbar Nf CTIC ORE SAL E M o-----"-!~---11 MAP OF CHARLESTON, CINCINNATI CHICAGO AND RAILROAD AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ' INVESTORS' SUPPLEMENT. 28 fVoL.LI Subscribers -w-ill confer a great Cavor by giving immediate notice of" any error discovered in these Tables. Bonds-PrinoiINTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or When Due. Amount Rate per When Where Payable, and by pal, For explanation of column headings, &c., see notes of · of Par Outstanding Stocks-Last Whom. on first page of tables. · R oad. Bonds Value. Cent. Payable Dividend. --- t()hicago & .Alton-Common stock .................... Pre erred stock (7percent yearly not cumulative) 1st mortgage . ...................................... General mortgage, sterling, for £900,000 ........ Joliet~ Chic., 7 p.~. stock, P.erpet.,~ar. by C.&A. :St. Loms Jacksonville & Chic., 1st ., assumed .. 1st mortgage, endorsed by Chicago & Alton .... 2d mortgage, endorsed by Chicago & Alton .... 2d mortga\\:, assumed (convertible) ............ Louisiana & o., guaranteed preferred stock .... 1st mort. ($439,100 assumed by Chic. & Alton) 2d mort. (interest {uaranteed Chicago & Alton) ;S.f. bonds for K. C.St. . &C. (lstM.as collat. )not dr'n Pref. stock Kansas City St. L. & C., guaranteed .. Miss. River Bridge, stock (7 :per ct. guar. (C.&A) . . lstmort~age, assumed, sink. fund, dr'n at 100. Chicago Bur. &Northern- stM.,s.f.,red.at105 .c* f' i~n~e':!~ii?e~fur~J.~~.~-.~~.~~~~.~~~.~~~~::~: Eqmp. M.,red. at105; after'9310p.c.dr.y'ly100.c* Chicago Burlington & Quincy-Stock ................ Chic. Burl. & Quincy consol. mortgage ......... c•· Plain bonds .................................. .. c* Sinking fund bonds, (1st M. as coll.) not dr'n.c* Sink. fund bonds (1st M. as coll.) not dr'n.c*&r lllurl. &Mo. Riv. (in Iowa) lstM.l~.s.f.,notdr'n.c* 1st mortgage convertible bonds ....... . ....... c* <Ch, Burl. & Q. Iow& Div., s. f. 5s, drawnat105. · 1 Iowa Div., s. f. mortga§e4s, drawnatl00.c&r Sink. fund4s (for B. & . W.) drawn at 100.c&r"' Denverexten. (collat. tr.) b'ds, s.f. dr'n at 100.c~ l ---· ---· 220 322 38 150 37 37 150 101 101 101 162 162 ..... ---· 363 363 ---· .... 820 ..... 33 286 278 40 787 ---- 415 100 100 1,000 1,000 $100 1,000 1,000 1,000 1,000 100 1,000 1,000 1,000 100 14,115,000 3,479,500 2,383,000 1873 4,379,850 $1,500,000 is64 2,365,000 1864 564,000 1868 188,000 1868 42,000 ..... 329,100 1,725,000 1870 1877 300,000 2,149,000 1878 ..... 1,750,000 300,000 ---- 1,000 -·-· 620,000 1877 1886 500 &c. B,616,000 2,215,000 1888 1,000 1,000 935,000 1886 1,000 940,000 1888 ..... 100 76,394,505 1,000 17,500,000 1873 1,000 1871 547.500 1,000 330,000 1875 2,316,000 1,000 1876 1863 50&c. 3,967,400 66,000 '69-'70 500 &c. 2,892,000 } 1879 1,000 1879 1,000 8,366,000 1,000 4,300,000 1881 1,000 7,968,000 1881 i862 1eases, .Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. -connection, 2 miles; Gordonsville to Orange (Virg. Midland), 9 miles; trackage (Elizabeth Lexington & Big Sandy), Big Sandy River to Ashland, 8 miles; Orange to Washington (Virginia Midland and Washington Southern), 86 miles. Also controls and operates the Maysville .& Big Sandy Railroad, Ashland to Covington, Ky., 144 miles and tbrid~e between Covington and Cincinnati; total Septembert 1891, inoludmg 94 miles of trackage, 1,106 miles, of which 32 miles are double track. Eliz. Lex. & Big Sandy, 190 miles, was acquired in Jan., 1892 ORGANIZATION, &c.-The former Chesapeake & Ohio was sold in foreclosure April 2, 1878, and this company organized. In 1888, under -the direction of Drexel, Morga,n & Co., the company was again reorganized without foreclosure, and the road extended to Cincinnati. The consolidation with the Richmond & Allegheny was cons um mated in January, 1890. Until January 1, 1894, the voting power and control -of the company remains with three trustees, viz.: J. Pierpont Morgan, .John Crosby Brown and George Bliss. It is controlled in same interest .as the Cleveland Cincinnati Chica~o & St. Louis. STOCK AND BONDS.-The stock IS $46,000,000 common, $13,000,000 1st pref. 5 per cent and $12,000,000 2d pref. 5 per cent. (See below.) Price of common stock (since reorganization m 1888): In 1889, 1518 @28; in 1890, 1412'ii>271s; in 1891, 1414'ii>28; in 1892, to January 22 :inclusive, 247 e'ii> 28. Price of first preferred stock: In 1889, 5612'ii>6912; in 1890, 36'ii>6634; in 1891, 42'ii>60 7e; in 1892, to Jan. 22, inclusive, 59'ii>6412. Price of second preferred: In 1889, 2912'ii>461s; in 1890, 2312'ii>461s; in 1891, 22'ii>41; in 1892, to January 22, inclusive, 38¼'ii>443a. The consolidated mortgage, due in 1939, is for $30,000,000 (trustee -0f ,mortgage, Central Trust Co.), and sufficient bonds are reserved to provide for prior liens. This mortgage is also secured by deposit in ;trust of the $11,000,000 bonds and two-thirds of the stock of the Maysville & Big Sandy RR., Ashland to Covington, Ky., and the Bridge to -Cincinnati, all owned by the Chesapeake & Ohio RR. Co. (See abstract --Of mortgage in CHRONICLE, v. 49, p. 147.) Of the first consolidated mortgage on the Richmond & Allegheny divi-eion, · $5,000,000 carry 2 per cent interest till January, 1894, and :thereafter 4 per cent. The Central Trust Co. and Henry T. Wickham are the trustees. (See abstracts of mortgages, V. 51, p. 144.) There are .also $26,897 series B 6s, due in 1908; $170,000 New River bridge bonds, due in 1898. In January, 1892, it was proposed by the managers to issue a long ,general mortgage gold bond at 412 per cent of $70,000,000 to retire old '.bonds when they mature and provide for future requirements; also ,$13,000,000 of it to exchange for preferred stocks on terms following: First vreferred to get two-thirds of its par value in new bonds and one·third rn new common stock; second preferred to get one-third of its par value in new bonds and two-thirds in new aommon stock. Arrangements have already been made to diepose of enough of the new bonds <to give a fund to proceed with the immediate deve1opment of the road. "The company also agreed to buy the Elizabethtown Lexington & Big -Sandy Road, giving one of the new 412 per cent bonds for one of the o J)er cent bonds of the Elizabethtown Lexington & Big Sandy. OPERATIONS, FINANCES, &c.-From July 1, 1891, to Nov. 30, 1891, (5 months), the gross earnings were $4,029,970, against $3,472,041 1n 1890; net, $1,102.621, against $996,278. Fiscal year ends June 30. Report for 1890-91 was in V. 53, p. 472, 482, and showed the following: 1889-90. 1890-91. 923 1,027 $ Total. ................................ . -Operating expenses .................... . $ 1,471,436 5,384,255 99,024 89,198 108,972 9,064 1,765,299 5,963,516 187,241 90,488 120,567 ....... . 7,161,949 5,455,127 8,127,111 5,920,418 Nei earnings ................. . . ·····~ 1,706,822 INCOME ACCOUNT. 1889-90. $ 2,206,693 1890-91. $ .~t:e~a1~~~~e:::·.:::::::·.:::·.:::::::::::: 17 • ~i:~~~ 2,206,693 18,520 Total. ................................ . DeductInterest on bonds ....................... . Rentals of tracks ....................... . "Taxes ........ .. ........................ : .. Loss on grain elevator ... . . . ............ . Discount and exchange, &c ............ . 1,726,791 2,225,213 1,663,641 44,401 156,841 2 2 7 6 g. 134 7 7 7 7 3¼ 7 7 6 g. 1¼ 312 6 g. 5 6 6 7 114 7 7 5 5 7 8 5 4 4 4 Q.-M. IN. Y., John Paton & } Dec. 1, 1891 Q.-M. Co.&Chic. Tr. Office. Dec. 1, 1891 J. & J. J', & J. Q.-J. A. & 0. .A.• & o. J. & J. J. & J. F. & A. F. & A. l\f. & N. M.&N. Q.-F. J. & J. A. & 0. A. & 0. J. & D. J. & D. F. & A. Q.-M. J. & J. & J. & A. & A. & J. & A. & A. & M.& F. & J. J. D. 0. 0. J. 0. 0. s. A. N. Y., John Paton & Co. Lond'n,J.S.Morgan&Co. N. Y., U.S. Trust Co. N. Y., John Paton & Co. do do do do do do do do do do do do do do do do Chic., Treasurer's Office N;Y., John Paton & Co. N.Y., F.L.&T.Co.&Bost. do do do do do do N. Y., Boston and Chic. N.Y., Bk.of Com.& Bost. do do Boston, Co.'s Office. N. Y.,.Bk.of Com.& Bost. N.Y., F.L.&T.Co.&Bost. Boston, Co.'s Office. N. Y., Bk.of Com.& Bost. do do do do do do Jan. 1, 1893 July 1, 1903 Jan., 1892 Apr. 1, 1894 Apr. 1, 1894 July 1, 1898 July 1, 1898 Feb. 1, 1892 Aug. 1, 1900 Nov. 1, 1900 May 1, 1903 Feb. 1, 1892 Jan., 1892 Oct. 1, 1912 Apr. 1, 1926 June 1, 1918 Dec. 1, 1896 Feb. 1, 1903 Dec. 15, 1891 July 1, 1903 Jan. 1, 1896 June 1, 1895 Oct. 1, 1901 Oct. 1, 1893 July 1, 1894 Oct. 1, 1919 Oct. 1, 1919 Sept. 1, 1921 Feb. 1, 1922 6 miles, 398 miles; of which is leased from Louisville & Nashville their Cecilian branch, 46 miles. Also will operate the Ohio Valley Ry., Princeton to Evansville, Ky., and branches, 110 miles. Successor to the Memphis Paducah & Northern, whlch was sold in foreclosure in 1881, and merged with the Paducah & Elizabethtown. In February, 1886, leased to the Newport News & Mississippi Valley Co. for fifty years, rental to be interest on bonds if earned, and not to exceed 6 per cent, on stock. In 1891 the stock of the Ohio Valley Railway was purchased, the Cheli. Ohio & Southwestern guaranteeing its bonds. See V. 52, p. 321, 718. Stock-Common, $6,030,600, and preferred, $3,696,000 ($164,000 additional unissued), of which the Newport News & Mississippi Valley Co. owns $5,708,700 common and $3,511,600 preferred. January 1, 1891. there was due the Newport News & Mississippi Valley Co. (as per that company's report) $935,429. · From January 1 to Nov. 30, 1891 (11 months), gross earnings were $2,136,235, against $1,951,752 in 1890; net $707,601, against $713,185 . The annual report in V. 52, p. 569, showed the following. A cyclonQ in 1890 cost the compn,ny heavily. See report. 1887. 1888. 1889. 1890 . $ $ $ $ Gross earnings .•........... 2,001,723 2,005,168 2,134,195 2,161,685 Netreceipts................ 821,863 745,710 927,039 828,512 Rentals, taxes, int'est, &c. 715,872 826,872 866.-216 868,979 Balance ................ su.105,991 def. 81,162 sur. 60,823 def.40,467 -(V. 50, p. 518 ; V. 52, p. 5 69, 718; V. 53, p. 156.) Chlca 00 o & Alton.-LINE OF ROAD-Joliet to East St. Louis (main), 2'44 miles; Branches-To Coal City, 30 miles; Dwight to Washington and Lacon, 80 miles; Roodl1ouse to Louisiana,, 38 miles; Upper Alton line, 8 miles. Total owned, 400 miles. Leased-Chicago to Joliet, 37· miles; Bloomington to Godfrey, 150 miles; Louisiana to Cedar City, 101 miles; Kansas City to Mexico, 162 miles. Total leased, 450 miles. Total operated, December 31, 1890, 849 miles. ORGANIZATION, LEASES, STOCKS AND BONDS.-Chartered as the Chicago & Mississippi February 27, 1847; reorganized in 1857 as Chicago Alton & St. Louis, and again under present title in October, 1862; after foreclosure. Fiscal year ends Dec. 31. The annual meeting is held the first Monda.y in April. The Joliet & Chicago is leased from Jal).uary 1, 1864, for the term of its charter, and forms part of the main line. Rental, 7 per cent on stock. The Louisiana& Missouri River RR. is leased for 1,000 years. Rental, 35 per cent of gross earnings, after taxes, &c., have been deducted from them, but interest guaranteed on second mortgage bonds and $329,100 preferred stock; other pref. stock is $1,010,000 and common $2,272,700; rental in 1890, ·$139,469, against $156,486 in 1889. The Kansas City St. Louis & Chicago is leased in perpetuity from November 1, 1877, at a rental of 35 per cent of gross earnings. Its bonds are held by the United States Trust Co. as security for the Chicago & Alton bonds of 1878, whieh have a sinking fund of $60,000 per annum. Common stol'-k, $271,700, of which $157,600 is owned by the Chica_g_o & Alton. The Mississippi River Bridge is leased in perpetuity from uec. 3, 1877, at7percent on $300,000 stock (all owned by Chicago & Alton) and 6 per cent on bonus. The Chicago & Alton preferred stock has prior right to a. non-cumulative dividend not exceeding 7 per cent from net earnings and (after payment of 7 on common) also shares with common in any surplus. Dividends since 1876: In 1877, both stocks, 712; in 1878, both 7; in 1879, preferred 7, common 6; in 1880, preferred 7, common 6¼; in 1881, both 8; in 1882, both 8; in ·1883, both 8; in 1884, both 10; from 1885 to Dec., 1891, both inclusive, both 8 (2 per cent quarterly.) Price of common stock: In 1881, 127'ii>l56; in 1882, 12712'ii>l45¼; in 1883, 128'ii>l3714; in 1884, 118'ii>l4014; in 1885, 128'ii>l40; in 1886, 138'ii>l46; in 1887, 130'ii>l55; in 1888, 132'ii>l40¼; in 1889, 125'ii>l40; in 1890, 123'ii>l35; in 1891, 123'ii>l4014; in 1892, to January 22 , inclusive, 140'iil142. OPERATIONS AND FINANCES.-The Chicago & Alton Road has been particularly strong in having a large local business between Chicago and St. Lows. Its leased lines are as completely controlled as if owned, and the system is compact. Fiscal year ends December 31. Annual report for 1890 was in V. 52, p. 349, and the President's remarks at length on p. 352. INCOME ACCOUNT. 1890. 1887. 1888. 1889. Receipts$ $ $ $ 7,516,617 7,065,754 Total gross earnings. 8,941,386 7,511,465 2,683,754 Net earnings ......... 3,671,183 2,843,380 2,944,881 273,497 Other receipts........ 269,239 273,252 273,875 1,745,129 2,957,251 Total.. .............. 3,940,422 3,116,632 3,218,756 11,609 Disbursernents163,101 Rentals paid......... 710,608 652,411 665,455 669,478 16,419 Construe., equip., &c. 657,444 531,542 184,271 159,810 816,161 69,145 Interest on debt...... 831,031 825,658 823,495 ~HfrF ,,., ----·-1,407,712 1,407,560 1,407,608 Dividends ............ 1,407,644 Total......... . . • ... . . . . . . . . . . . . . . . . . . 1,866,511 2,005,403 Miscellaneous........ 189,227 106,924 38,059 92,672 ·B alance.................................. Def.139,720 Sur.219,810 Total disbursem'ts. 3,699,399 3,537,187 3,098,554 3,249,630 -(V. 51, p. 144,274, 829,910; V. 52, p. 390; V. 53, p. 58, 59, 97, 289, Balance............. sur. 241,023 df. 420,555 sur. 120,202 def.292,379 4'72, 482, 502, 604, 753; V. 54, p. 119.) t{Chesapeake Ohio & South"W"estern.-Louisville, Ky., to Mem- -(V. 51, i,. 171; V. 52,p 319,335,349,352; V. 53, p. 156.) ~his Tenn. 392 miles and branch Elizabethtown to Cecilian Junction Ohlca2:o & A.tlantlc.-Si:E CmCAGO & ERIE. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis e ~ MAP OF THE CHESAPEAKE & OHIO RAILWAY AND ITS CONNECTIONS. ell A z 0 p::i ~ w. ~ 0 0 H w. A <tj 0 ~ ~ ~ ,....., ci C) 00 .-4 ~ ~ z ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE w ~ CHICAGO, BURLINGTON & Q,UIN D RAILROAD s ~ t_zj U1 1-3 0 ~ ua U1 ~ - t--o t--o t--1 t_zj z1-3~ ~~ I'"" 1-4 ~ JANU.ARY, 1892.] .RAILROAD STOCKS AND BONDS. 31 Subscribers will couCer a great tavor by giving imm.ediate notice oC any error discovered in these Tables. Bonds-Princi INTEREST OR DIVIDENDS. RAILROADS. [ Miles Date s·ize, or pal, When Due. Amount For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. r Cent. . Payable Whom. Dividend. I I I j 1-· . Chicago Burlin~on ~ Qttincy-(Ooncluded.)- Ch. Burl. &Q. eb. 5s, 1913forHan. &St.Jostk.c* .... 1883 $1,000 $9,000,000 Nebraska ext., $20,000 p. m. (s. f., not dr'n).c*&r 1,432 1887 1,000&c 27,565,000 Convertible debentures (See remarks).......... . ... 1890 100 &c. 7,639,200 B'rl.&Mo.RR.inNeb.con.M.l.gr.,s.f.dr'n at 100 .. } 561 {1878 600 &c. 7,894,000 1878 600 &c. Do do do exemfot (See remarks) .... 5,000,000 Burl. & Mo. RR. in Neb,, s. f. or At.&Neb.RR.st'k .. 1880 1,000 3,347,000 Quincy Alton & St. L. (leased) 1st mortgage .... c* .46 1876 1,000 840,000 R~ub.Val. R.,lst M.g.,(dr. at 100) s.f., $14,000 ... c 90 1879 GOO &c. 1,078,000 ONTINGENT LIABILITIES FOR BRANCH ROADS: Ottawa Oswego & Fox River, 1st mortgage .... c* 70 1870 1,000 1,076,000 49 1871 1,000 669,000 Omaha & S. W., 1st mort~age, ~aranteed ...... c* 132 Nebraska Railway consolidate mort, guar ...... c 1877 1,000 349,000 Atch.&Neb.,lstM.,At. to Lin.,Neb.,and br.,gu ... c* 148 1878 100 &c. 1,125,000 2d mort. on Atch. & Neb. RR. (1st M. on bridge) 148 1887 901,280 ..... Linc'n & N.W. RR.1st M. guar., s.f.1 p.c., notdr'n .. 73 1880 600,000 ·ioo Oh-le. & East. Illinois-Com. stock ($15,000 p. mile). ..... ..... 7,746,000 Preferred stock, 6 per cent ($10,000 per mile) .... ... .. 100 4,830,700 ---· 1st mort. (s. f. $20,000 after 1885, no drawings)ck 107 1877 100 &c. 2,989,000 Danville & Grape Creek RR.-lst mortgage .. .. c* 7 1880 1,000 119,000 13 1881 Strawn & Ind State Line bonds, assumed, s. f .. c* 1,000 145,000 15 1881 Chica~o & East Illinois extension, 1st mort .. .. c* 1,000 103,000 Conso. mortgage,gold (for$6,000,000) s. f ..... c~ 208 1884 2,725,000 1,000 Collateral trust bonds, sinking fund ............ c* 1,000 42,000 1887 1887 1,000&c 4,197,000 General consolidated mortga~e . ............... c&r Chio. & Indiana Coal-1st M.( 25,000 per mile . c* 172 1886 1,000 4,448,000 277 I 5 4 5 6 6 4 5 6 M. &N. M.&N. M.& S. J. & J, J. & J, J. & J. F. & A. J. & J, 8 8 7 7 6 7 J. & J. N.Y., F.L.&T.Co.& Bost. J. & D. Boston, Co.'s Office. do do A. & 0. M. & S. Boston, Bk. of Com'rce. J. & D. Boston. J. & J. Boston, Co.'s Office. 'i¼ 6 6 6 6 6 g. 6 g. 5 5 J. ··&·n. M.&N. J. & J, J. & D. A. & 0. F. & A. M.&N. J. & J. . . . .. N.Y., Bk.ofCom.&Bost. do do Boston Office and N. Y. Boston, Bk. of Com'rce. do do do do N. Y., F.L.&T.Co.&Bost. Boston, Bk. of Com'rce. --········ N.Y., Hanover Nat. B'k N.Y.,4thNat.Bk.&Bost. Boston Globe Nat. Bk. N. Y., Central Trust Co. N. Y., Fourth Nat. Bank. N. Y., Central Trust Co. do do do do N. Y., Met. Trust Co. May 1, May 1, S~t.1, J 1, July 1, Jan. 1, Feb. 1, July 1, 1913 1927 1903 1918 1918 1910 1896 1919 July June Oct. Mch. Dec. Jan. 1900 1896 1896 1908 1927 1910 1, 1, 1, 1, 1, 1, 1; .i892 Jan:· Dec. 1, May 1, Oct. 1, Dec. 1, Oct. 1, Feb. 1, Nov. 1, Jan. 1, 1907 1920 1921 1931 1934 1912 1937 1936 Chicago Burltno-ton & Northern.-Owns from Oregon, ill·• Burlington & Missouri in Nebraska 6s, due in 1918, are redeemable at to St. Pi:i,ul, Minn., 332miles; Fulton to Savanna, ill., 17miles; branches 100, but this for the" exempt" bonds applies only after 1908. 14 miles; total, 363 miles . Completed Aug., 1886. In 1890 $9,06~,500 ' OPERATIONS AND FINANCES.-The Chicago Burlington & Quincy RR. of th~ $9,289,50Q stock (par, $100), was purchase~ at 40 b~ Chicago has been one of the most profitable in the country, as its numerous Bu!,'lington & Qumcy. (See V: 50, P, 390.) The Chicago Burlington & branches tributary to the main line were built into choice agricultural Qumcy and Chi~ago & Io'Ya give ~ traffic guara~tee for twenty years of territory, where they enjoyed a monopoly of the local business at full on~-half of tJ?.eir net earnmgs derived from busmess to an<;l from the rates. The company for many years paid 10 per cent, then 8 per cent, Chicago B~lington & No_rthern (to _be not less than $100,000 per year) and since 1887 smaller dividends, owing to the increased competition for the retirement of Clpcago B~lington & Nort~ern .firsts at 105; and and lower rates and the extension of roads in the far West. after March 31, 1896, the whole issue may be retired at 105. . The gross and net monthly earnings below include the returns of From January~ to N~v. 30, 1891. (11 months), gross earmngs ~ere auxiliary lines, which in the yearly income account appear only under $1,998,782, agamst $1,881,038 m 1890; net, $807,788, agamst "interest received.'' $748,403. . From January 1 to Nov. 30, 1891 (1 t months), gross earnings, includ In 1889 gross earnings were $1,971,1591 net, ~742,495; defici~ "!1-nder ing lines controlled, were $31,827,897, against $32,314,854 in 1890; charges, $126,769. In 1890, gross, $_2,ll.J,442, net, $876,855, mter: net, $12,101,571, against $11,400,839; charges, $8,752,000, aa-ainst $8,· est $692,700; rentals, etc., $10~,001, surplus, $213. (V. 49, p. 234, 508,671; surplus, $3,349,571, against surplus of $2,892,168ln 1890. V. 50, p. 243,390; V. 51, p. 715, V. 52, p. 641.) The annual report for 1890 was published at much length in the Chicago Burlington & q.uincy.-(See Map.)-LINE OF ROAD.- CHRONICLE, V. 52, p. 569-572. Earnings have been as follows: Main line from Chicago, ill., via Burlington, Iowa, and Pacitlc Junction, OPERATIONS AND FISCAL RESULTS. to Denver, 1,028 miles. Also has line in Illinois to East St. Louis and to . _ , _ 1889 1890 1887 1888 Quincy, connecting with the Hannibal & St.Joseph Road (purchased by the OperationsChicago Burlington & Quincy in 1883), across Missouri to st. Jose]_)h, Miles operated...... 4,693 4,917 5,140 5,216 The mileage reported Jan. 1, 1891, was 5,216, of which 158 miles Pas'g'rs car.onem*. . . ... . .. 268,778,494 292,535,186 were leased or operated with other companies. In addition to this the Tons car. one mile.. . ....... 1,752,248,595 1,978,896,694. company controls and largely owns the St. Louis Keokuk & North WestEarnings$ $ $ $ ern road, 218 miles (of which 41 miles are leased or operated jointly Passenger ...... ••·· 6,629,859 6,146,121 6,223,510 6,369,646 with other companies); the Kansas Cit¥ st. Joseph & council -:Bluffs, Freight ........ . .... 18,675,655 15,484,035 18,190,818 18,843,104 313 miles (3 miles leased or operated jomtly witfi other companies) ; Mail, express, &c... 2,270,564 2,159,011 2,363,985 2,513,217 the Chicago Burlington & Kansas City, 220 miles (39 miles leased 26,778,313 27,725,967 or operated jointly with other companies); the Chicago Burlington & Total gross earns ... 27,576,078 23,789,167 17,690,547 18,749,699 Northern, 363 miles, and a half-interest with Wabash in the Humeston Oper. exp. & taxes .. 16,097,913 18,882,460 & Shenandoah, 95 miles. 9,087,766 8,976,228 11 478 165 4 7 ORGANIZATION, &c.-This was a consolidation in July, 1875, of the Net earnings .... ·· · , , ,906, 07 66·06 67·66 58 ' 38 79 ·37 Chicago Burlington & Quincy in illinois and the Burlin~n & Missouri P. c., op. ex. to earn. River in Iowa. In 1880 the Burlington & Missouri m Nebraska was * Not including those carried on mileage or season tickets. absorbed. ·The leased lines are practically owned and there is no charge INCOME ACCOUNT. for rentals in the income account, except as interest on bonds. The ownership in the other roads above-mentioned is in the stocks and 1889. 1890. 1887. 1888. bonds thereof, and their accounts are kept separate. In August, 1885, Receipts$ $ · $ $ 8,976,268, the a~eement was made with the Chicago Burlington & Northern for Net earnings ....... 11,478,165 4,906,707 9,087,766 672,863 806,035 the lme to St. Paul, but the Chicago Burlington & Quincy owned $3,- Interest & exch'ge. 859,055 169,601 291,443 178,455 097 ,500 only of the stock of that company until March, 1890, when a -NetB. &M. land gr . 567,083 408,555 controlling interest was purchased. Fiscal year ends Decem'ber 31. Annual election in May. 10,052,072 9,960,758 Total income ....... 12,904,303 5,484,863 The lands have been mostly sold, but 75,700 acres remainin~; land Disbu1·sements192,119 206,078 notes outstanding, including interest payable, amount to $724,700. Rentals paid........ 198,168 193,709 5,425,611 5,491,992 Interest on debt .... 4,587,762 5,111,527 STOCKS AND BONDS.-The stock has been increased for the acquisition 3,055,704 3,819,630 Dividends . . . . . . . . . . 6,111,064 3,819,578 of new lines, and in 1880 a distribution of 20 per cent was made. 4 5 8 5 Dividends-In 1877, 9 per cent; in 1878, 1012; in 1879, 8; in 1880, Rate of dividend.... 744,472 745,492 691,474 500,154 914 caf!h and 20 stock; from 1881 to 1887 inclusive, 8; in 1888, 5 in Carried tosink'gf'd. 1889, 4; in 1890, 5; in 1891, March, 1; June, 1; Sept., 1; Dec., 114, '..l'otal disb'sem'ts.11,397,148 9,816,288 9,417,906 10,263,192 Price of stock-In 1881, 13312'ii>l8212; in 1882, 12012'ii>l41; in 1883, 115¾@1293s; in 1884, 107@127¾; in 1885, 11512'ii>l3812; in 1886, Balance, surplus ... 1,507,155 df.4,331,425 sur.634,166 def. 302,434 7 128¾@141; in 1887, 123 0@156; in 1888, 103¾'ii>l3012; in 1889, 8979 -(V. 50, p. 467,480,482,485,622,703,875; V. 51, p. 20,142,276. @11112: in 1890, 80@11112; in 1891, 75¾'ii>l10; in 1892, to Jan. 22, 909; v. 52, p. 126,204, 296, 321, 549, 569, 572,574, 643,657,938; inclusive. 1061411!110¼. V. 53, p. 325.) Included in the amount of bonds outstanding m the table above are Chicago & Eastern Illlnols.-(See Map.J-Owns from Dolton, the following which, with· other bonds (the whole representing a cost of $13,813,935) were on January 1, 1891, held alive and drawing Ill., to Danville, Ill., 107 miles; Danville to Shelbyville, 92 miles; Mointerest for account of the various sinking funds ; Chicago Burlington mence to Indiana State line (junction with the Chicago & Indiana Coal),. & Quincy 4s of 1881, due 1921, $526,000; Denver extension 4s, due 11 miles; Cissna Junction~ ill., to Cissna Park, 11 miles. Proprietary 1922, $879,200; Burlington & Missouri in Nebraska 4s of 1880, $985,- lines-Chicago & Indiana uoal Railway, Brazil to La Crosse, Ind., 145 000; Republican Valley 6s of 1879, $205,200; Burlington & Missouri miles, and branches, 29 miles. Leases Evansville Terre Haute &_Chi1n Nebraska consolidated 6s of 1878, $5,281,200; but only $2,870,200 cao-o Railroad, Danville, ill., to Otter Creek Junction, Ind., 49 miles; of this last.amount in the sinking fund for the issue itself. January 1, Infilana Block Coal Railroad, Otter Creek Junction to Brazil, Ind., 13 1891, the sinking fund of the Burlington & Missouri (in Iowa) land grant miles. Trackage-Otter Creek Junction to Terre Haute, Ind., (Ev. & T. H.) 6 miles; Dolton to Chicago (C. & W. I.), 17 miles. Total operated, 7s of 1863 held sundry bonds costing $8,358,080, and $18,655 cash. The consolidated mortgage 7s of 1873 are a first mortgage except 481 miles. for $1,076,000 Ottawa Oswego & Fox River bonds. The Iowa Division The Chicago & East Illinois was chartered as Chicago Danville & einking fund bonds are a lien on the main line in Iowa from Burlington Vincennes in 1865, and opened in 1872 and 1873. Sold under foreto East Plattsmouth on the Missouri River, 279 miles, and on 16 closure February 7, 1877, and reorganized under existing title Septembranch~s having an aggregate length of 511 miles. The only prior ber 1, 1877. In February, 1889, made an exchange of stock with the liens are the Burlington & Missouri !"river Railroad in Iowa bonds to a Chicago & Indiana Coal Railway, whose stock is now held as an asset in total of $4,192,506. The Chicago Burlington & Quincy Iowa bonds the company's treasury. See CHRONICLE, V. 46, p. 134, V. 48, p. 334, have a sinking fund of 112 per cent ($203,800) yearly, for which the 4s for status as given in applications to the Stock Exchange. are subject to call at 100, the 5s at 105. The Denver Extension bonds are The common stock is entitled to all surplus after 6 per cent on the secured by deposit with the trustee of first mortgaie 5 per cent bonds preferred stock. (limited to $20,000 per mile of main track and $10,uOO per mile of secIn J anuary, 1890, a ten-year traffic contract was made with me ond track) upon about 400 miles ofroad, representing five different Evansville & Terre Haute for the operation of a through line between lines, of which the most important is that from Colorado State line Chicago and Evansville. . . Under the terms of leases the Chicago & East illmo1s guarantees westerly to Denver, 175 miles. They have a sinking fund of 1 per cent, for which they are subject to call at 100. interest on $1,400,000 bonds of leased roads. There are also $64,000 The collateral trust Nebraska extension bonds of 1887 (New Ena-land second mortgage incomes, due 1907, outstanding. Owns control ot Trust Co., of Massachusetts, trustee) are issued at $20,000 per mile for Evansville Terre Haute & Chicago Railroad and $1,000,000 stock of single track and $10,000 per mile additional for second track. See the Chicago & Western Indiana-which see. abstract of mortgage in V. 45, p. 441. The general consolidated mortgage of 1887 (trustee, Central Trust The 5 per cent debentures issued in 1890 are convertible into stock at Company) provides for the retirement of $8,000,qoo prior. bonds and for issue of bonds on new road at $18,000 per mile for sm~le traek, any time prior to December 1, 1902. (See V. 50, p. 622.) Many of the bonds are redeemable (may be drawn) before maturity at $7,000 per mile additional for equipment and $8,000 per mile ror rl.ouble various prices, plus accrued interest, as stated in the table above. The _track. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Th"VESTORS' SUPPLEMENT. [Vo:r.. LlV, JANUARY, 1892.] I RAILROAD STOOKS AND BONDS. 33 Subscribers -will conCer a great Cavor by giving luunediate notice oC any error discovered In these Tables. Bonds-Prin~ RAILROADS. INTEREST OF DIVIDENDS. Miles Date Size, or pal, When Due.. Amount of Par Outstanding Rate per When Where P~able, and by Stocks-Lasi F or explanation of column beadings, &c., see notes of Road. Bonds Value. on first page of tables. Cent. Payable om. Dividend. --- - - - ----- - - - - Ohic. 249 249 1890 $1,000 $11,137,000 4to/ g. M.&N. New York. Income bonds for $10,000,000 non-cumulative .. 1890 1,000&c 10,000,000 Oct.1. N. Y., when earned. Terminal 1st mortg~ int. 4 p. c. till July, 1893. ··-· 1888 .... 300,000 4to 5 J. & J. N.Y.,Drexel,Morg.& Co. 66 1880 500&c. orthwest Gr. T'nk.,lstM 558,000 6 J. & J. N.Y.,E.P.Beach,B'way. 0 hicago cf: Grand T1·u 1st mortgage for $6,000,000 ....................... 327 1880 £100&c 5,442,000 g. J. & J. New York and London. 2d mo~age, and£ .......................... c&r 327 1882 1,000 6,000,000 J. & J. do do 100 46,027,261 Ohicaf/ ilwau cee cf: St. Paiil-Oommon stock ..... ·-·· 212 A. & 0. N. Y., Office 42 Wall St. ·-·· Pre erred stock (7 per cent yearly, u·ot cumulative ..... 100 22,198,900 do 312 A. & 0. do Mil. & St. Paul, Lam•osse Div. 1st M., convert .. c* 392 i863 1,000 4,623,000 7 do do J. & J. :Minnesota Central 1st M. (Minneap. to Owat.). c* 49 1864 1,000 123,000 do 7 J. & J. do Iowa & Minn. 1st M. convert. into pf. stock .. c* 230 1867 1,000 3,198,000 7 do do J. & J. Prairie du Chien 1st l\l. (Mil. to Pr. du Chien) .c* 195 1868 1,000 3,674,000 F. & A. do 8 do 2d mortgage, convertible into pref. stock .. c* 195 1868 1,000 1,239,000 7·3 F. & A. do do Iowa & Dakota 1st M., conv. into pref. stock .. *c 126 1869 1,000 541,000 7 J. & J. do do River Div. (St.P.&C.) lstM. conv. into pf. stk.c* 130 1872 $& £ 3,804,500 7 g. J. & J. London and New York. Chio. & Mil. 1st mort. (conv. into pref. stock) .. c* 1,000 85 1873 2,393,000 7 J. & J. N. Y., Office, 42 Wall St. Ch. Mil. & St. P. con.sol. M., conv. into pf. stock.c* 1,435 1875 1,000 11,4 6,000 7 J. & J. do do I.&D.Ext.l tM.($15,000p.m.)con.intopf.st'k.c* 234 1878 1,000 3,505,000 7 J. & J. do do 8. W. Div. 1st mortgage Western Union RR .. c* 212 1879 1,000 4,000,000 6 J. & J. do do So. :Minnesota Div. 1st mortgage .............. c* 419 1880 1,000 7,432,000 J. & J. do 6 do Mineral Point Division 1st mortja~e ......... c* 142 18 0 1,000 2,840,000 5 J. & J. do do HA.st. &Dale Div.,extens. lstM. ( lo,OOOp.m.)c* 395 1880-6 1,000 6,670,000 7&5 J. & J. do do Lacrosse & Dav. Div. 1st mortgage ........... c* 185 187!) 1,000 2,500,000 5 J. & J. do do Wisconsin Valley RR. Co. 1st mortgage ....... c* 107 1879 500 1,106,500 Boston. 7 J. & J. Wis. Val. Div.1st M. of 1880, s. f., not dr'n.c* 161 1880 1,000 2,391,000 6 J. & J. N. Y. Office, 42 Wall St. Dub. Div.(Ch. Cl. D.&M.) lstM., s. f.,notdr'n.c· 372 1880 1,000 6,565,000 do 6 do J. & J. Chic. & Pac. Div. 1st M. (Chic. to Miss. Riv) .. c* 120 1880 1,000 3,000,000 do 6 do J. & J. Western Division 1st M., g., $20,000 per m.c• 1,267 1881 1,000 25,340,000 5 g. J. & J. do do Chio. & Lake Superior Div. 1st mort., gold ... c" 1,000 1,360,000 68 1881 5 g. J. & J. do do Wis. & Minn. Div. 1st M. ($20,000 p. m.) gold ... 230 1881 1,000 4,755,000 5 g. J. & J. do do Fargo & Southern 1st mort., gold, assumed ..... 119 1883 1,000 1,250,000 6 g. J. & J. do do cf: Erie-1st M. for $12,000,000 g.,int. guar.c* g ! Chica$o & Indiana Coal first mortga~e of 1886 (trustees, Metropolitan \ Trust t.mmpan.y and R. B. F. Pierce) 1s for $1,000,000 on road from Yeddo to Brazil and $25,000 per mile ($7,000 of this for equipment) for extensions; second track,$ ,000 per mile. Dividends since 1881-0n common, in 1882, 3 per cent; in 1886, 5; in 1887, 6; none since. On new preferred in 1888, 712; in 1889, 6; in 1890, December, 6 in preferred stock. (See V. 51, p. 715); in 1891, 412 cash; in lti92, Jan., 112. From July 1, 1891, to Nov. 30, 1891 (5 mos.), gross earnin~s were $1,624,55e, agst. $1.507 795 in 1890; net, $666,339, agst. $79l:l,350. Fiscal year ends June 30. The annual report for 1890-91 was in V. 53, p. 473. INCOME ACCOUNT. 1888-89. 1889-90. 1890-91. Total gross earnings ............ $2,719,932 $2,911,723 $3,567,195 Operating expenses & taxes .... 1,724,547 1,731,369 1,946,499 $1,180,354 $1,620,696 $1,212,3-!6 1,660,279 $771,514 Interest. . . . . . . . . . . . . . . . . . . . . . . . . . $724,550 200,061 Rentals.. ........................ 222,118 Dividend on.pref. stock ........ (6%) 267,912 (3%) 133,956 $769,904 204,226 (6%)275,949 Net earnin~s. ... ...... ...... $995,385 Net income (mcluding other income) ........................ $1,000,398 Deduct- ---- Total ......................... $1,214,580 $1,105,531 $1,250,081 Balance ....................... def. $214,182 sur.$106,815 sur.$410,198 George W. Saul, President, Chicago.-(V'. 51, p. 171,568,680, 715; v. 52, p. 680,762,795,862; v. 53, p. 407, 473.) Chicago & Et·le.-Owns from Marion, Ohio, to Hammond, Ind., 249 miles, and leases trackage over Chicago & Western Indiana to Chicago, 19 miles. Connecting line for the New York Lake Erie & Western and the New York Pennsylvania & Ohio to Chicago. This company i a reorganization of the Chicago & Atlantic, which defaulted on interest November 1, 1884, and was sold in foreclosure August 12, 1 90. The New York Lake Erie & Western owns the entire stock of $100,000 and guarantees the interest of the first mortgage bonds. See reorl(anization plan in V. 44, p. 369. The first mortgage (trustees Central Trust Co. of New York and Edward Daniels) bears 4 per cent interest till May 1, 1892, then 5 per cent to maturity. This interest is guaranteed by Erie, as said above. Both the fir t and the income mortgages cover 249 In.ilea of road, the contract with tile Chicago & Western Indiana, $1,000,000 of that comany's stock and $240,000 stock of the Chicago Belt Railway. Of the J.2,000,000 tirst mortgage bonds authorized, $2,000,000 were re .. erved or betterments and equipment. Bee full abstracts of mortgages in V. 51, p. 911 to 913. Due tor equipment May 1, 1891, $416,384; 20 per oent of this sum-$83,276 83-to be paid down and the rest in twenty quarterly payments of $18,927 29 each. A certain percentage of the gross earnings is each year to be applied, first, to payment of interest on the first mortgage bonds, second to payment of any advances (with interest thereon at 5 per cent) by Erie, thirdly to th!) payment of interest on the incomes. If the gross earnings in any year amount to $2,250,000 or less, then this percentage is to be 2212 per cent; if to more than $2,250,000 and less than $2,750,000, then 25 per cent; if to $2,750,000 or more, and less than $3,250,000, then 2712 per cent; if to $3,250,000 or more, then 29 per cent. In July, 1891, it was announced that no interest would be paid for the ten months ending June 30, 1891, on the income bonds. There was earned for the incomes $196,000, which money was paid to the Erie Co. on account of $216,000 advances. From Januar.v 1 to June 30, 1891 (6 months), gross earnings were $1,224,415, against $1,354,627 in 1890. In year ending June 30, 1890, gross earnings were $2,710,276; net, $719,499: r e ntals, &c., paid, $185,127. In 1890-91 (ten months to June 30) gross earnings , $2,159,430; net, $362,834; other income, $10,419; total net, $373,253; deduct (interest on bonds $549,857 and miscellaneous $4,449) $554,306; deficit for 10 months, $181,053. (V. 51, p. 185, 205, 405, 751, 829, 830, 909, 913; v. 52, p. 428. 498.) Chicago & Grand Trunk.-Owns from Port Huron, Mich., to Elsdon, 327 miles ; also uses 4 miles of Chicago & Western Indiana and 4 miles Grand '. rruuk Junction Railroad; total operated, 335 miles. Stock $6,600,000 in $100 shares. Controlled by the Grand Trunk of Can;ia, wllich l{ives a traffic guarantee of 30 per cent of gross earnin,1rs. From January 1 t.o Nov. 30 in 1891 (11 months), gross earnin~swere £686,817, against £701,241 in 1890; net, .£156,610, a~ainst £167,181. In 1890, gross earnings, £771,264; net, £183,985; surpms over charges, £22,525, against £25,286 in 1889. · Chicago ll.llhva ukee & St. Paul.-(See Map.)-LINE OF ROAD. -The company operates a great consolidated system of railroads in Illinois, Wisconsin, Minnesota, Iowa and Dakota, which are well shown . Th · • fr C . on the aocomvanr.mg map. e mam through Imes are om hicago to Milwaukee, 85 Llliles; Milwaukee to St. Paul & Minneapolis, via La Crosse, 341 miles; Milwaukee to Prairie du Chien, 194 miles; McGregor (opposite Prairie du Chien) to Chamberlin, Dak., on the Missouri River 442 Iniles; Chicago, via Savanna, on the Mississippi River, to Council Biuffs, Iowa, 4 7 miles ; Marion, Iowa (near Cedar Rapids), to Kansas City, 305 miles; Miunea;polis to Aberdeen, Da.k., 288 miles. On June 30, 1891, the mileage m Illinoi was 318; in Wisconsin, 1,374; in Iowa, 1,553; in M.innesota, 1,120; n Missouri, 140; in North Dakota, 1~8; l https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis May 1, 1982: Oct. 1, 198Z: July, 1918 Jan. 1, 1910, Jan. 1, 1900,, Jan., 1922 Apr. 23, 188 Oct. 22, 1891 Jan. 1, 1893: July 1, 1894. July 1, 189T Feb. 1, 1898Feb. 1, 1898 July 1, 189~ Jan. 1, 1902'; Jan. 1, 1903July 1, 1905, July 1, 190~ July 1, 190~ Jan. 1, 1910-· July 1, 1910Jan. 1, 1910July 1, 191~ Jan. 1, 1909 July 1, 1920, July 1, 1920-• Jan. 1, 1910• Jan. 1, 192L July 1, 1921.. July 1, 1921.:. Jan. 1, 19~ in South Dakota, 1,097; trackage, 45. Total miles operated, June 30,, 1891, 5,766. Since acquired, 70 miles. See V. 53, p. 125. Also owns the entire stock of the Milwaukee & Northern RR. Qo., hut operates it separately, its road extending from Schwartzburg, Wis., to> Champion, Mioh., 254 miles, and branches, 108 miles. ORGANCZATlON, &c.-The Milwaukee & St. Paul RR. Co. was organized' l\1ay 5, 1863, and on Fell. 11, 1874, took its present name. The stock: of the Mil waulrne & Northern was acquired in September, 1890, in exehanl;\'e for common stock. The fiscal vear ends June 30. The annual! meetmg is held in September. STOCKS AND BONDS.-The preferred stock has a prior right over th&common stock to a dividend of not over 7 per cent from net earnings in. each year, but if not earned it has no cumulative right. If a dividend. was earned in any year and not paid, there might be a claim on futureyears for such dividend. After payment of 7 per cent on preferred) and 7 on common, both classes share pro 1·ata. Common stook authorized, $47,062,560. · Dh•idends since 1873-0n common in 1879, 212 per cent; from 1880, to 1884, inclusive, 7; in 1885, 4; in 1886 and 1887, 5; in 188 , 212; in 1889 and since, nil. On preferred in 1874, 7 in consolidated bonds; iD 1875, nil; in 1876, 312 cash and 14 per cent in bonds; in 1877, 312; in. 1878, 1012; from 1879 to 1887 inclusive, 7 ; in 1888, 6; in 1889, 412; 1890, 7; in 1891, April, 312; Oct., 312. Price of common stock-In 1880, 661211>114¾,; in 1881, 1011211>12914;. in 1882, 961211>128 14; in 1883, 91~ 11>10812; in 1884, 5814'@9414; in. 1885, 643411>99; in 1886, 825811>99; in 1887, 695811>95; in 1888, 5914@ 78: in 1889, 60 79@75 14; in 1890, 44@795s; in 1891, 50341.v823a ;: in 1892 to Jan. 22 inclusive, 775slZl833a. Price of preferred stock-ln 1880, 991i>l241s; in 1881, 11634@140; In. 1882, 11411>14414; in 1883, 11511>122 14; in 1884, 95 79'@119; in 1 85,. 1021i>l25: in 1886, 11611>12534; in 1887, 11011>12714; in 1888, 9819@ 117; in 1889, 971i>l18: in 1890, 99141i>1231s; in 1891, 10512@123 79;. in 1892 to Jan. 22 inclusive, 1201211>124. Of the bonds given in the table above as outstanding,$2,825,00()t were held in thecompan.y'streasuryonJan.10, 1891. An abstract of the terms of some of the principal mortga(J'es was publh,hed in the CHRONICLE, V. 45, pp. 85, 114, 144, 212, and V. 48, p. 830('f the consolidated mortgage bonds of 1875, enough was reserved to, tak~• up the prior bonds; these bonds may be stamped and dischargect from the sinking fund provisions. The St. Paul & Chicago, the Chicago& Milwaukee, the consolidated, the Lacrosse Division, the Iowa &. Dakota, the Iowa & Dakota Extension, the Prairie du Chien 2ds, and, the Iowa & Minnesota Division bonds are convertible into preferred stock. The terminal bonds issued in 1884 are secured by mortgage on the terminal property in Chicago and Milwaukee, subject to the lien of· the general mortgage on part of the track and terminals; but it covers also other property quite detached. The income bonds of 1886 are convertible into common stock, on notice, 60 days after any dividend day_ They have a ~inking fund of 4 per cent, and may be drawn at 105. They are secured by mortgaie, subject to prior liens, on road from Chicago to,. Kansas City, about 5~5 In.ilea. In addition to above bonds there are$89,000 Hastin.gs &Dakota7s, due Jan., 1903, convertible into pref. stock;. also $225,000 5 per cent real estate mortgages due in 1894. The general gold mortgage of 1889 for $150,000,000 was fully described in the CHRONICLE, V. 48, p. 830; see also v. 50, p. 205. TheUnited States Trust Co. of New York is trustee. OPERATIONS, FINANCES, &c.-The mileage and also the stook and debt: of this company increased very rapidly after 1879, the miles ownect being only 2,359 on January 1, 1880, and the stock and bonded debt, iD round figures, $69,000,000 on same date. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were, $14.460,985, against $12,743,140 in 1890; net, $5,686,400, agst $4,674,295. On the Milwaukee & Northern (operated SAparately) from July 1, 1891., to Nov. 30, 1891 (5 months), gross earnings were $823,77:.!, against. $701,865 in 1890; net, $349,576, against $273,574. On the Milwaukee & Northern the total earnings for the year 1890-91 were $1,630,441, against $1,426,942 in 1889-90; net, $619,803,. a(J'ainst $494,945. ':Fiscal year ends June 30. The annual report for 1890-n was in V~ 53, p. 288, 291. EARNINGS A.ND EXPENSES. 1888-89. • 1889-90. 1890-91 ► Miles operated June 30 .. 5,723 5,702 5,721 Ea1"liings from- $ $ $ Passengers ...........•.... Freight .........•.......... Mail, express, &c .....•... 6,241,091 17,163,721 2,017,747 5,981,639 18,337,009 2,087,059 19,012,159' 6,277,774 2,214,291 T t 1 earnin""S 15 • • • • • • • • a Expenses forMaintenance of way .....• Maint. cars and engines .. Tr t ti anspor a on.·· · · · · · · · · Taxes.·················-··· Miscellaneous.·········-·· Total expenses .....•.• . Net earmngs • • • •· • • · · · • ··• , Per c~. of op. exp. to earns. 25,422,559 26,405,707 27,504,224 3,121,841 2,502,118 9,943,493 803,517 177,415 3,119,714 2,639,849 10,3 8,382 830,046 195,106 3,763,98S: 2,787,924. 10,714,471 857,906; 242,214 16,548,3 4 8,871,17'5 65·09 17,173,097 9 ,232,610 65·04 18,366,500 9,137,724 66·7S ° • < marck No·11Tl'H'11N u ~ ... z ~ -<l ~ U1 1-3 0 ~ ~ U1 ;-- q ; ~ ~ 'h- i ~ CAGO, MILWAU T. PAUL RAILW https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ ~ t-3 M:i.Ies l:n Operatlo.n. B 1 ~ JANUARY, RAILROAD STOCKS AND BONDS. 1892.] Subscribers w-lll conCer a great Cavor by giving lmmedlate n o tice oC any error dlsco vered In these Tables. I I RAILROADS. Miles Date SIZe, . OR Bonds-Prinoior:l .Am t ~ - INTEREST ------DIVIDENDS. - - - - - - - - pal,WhenDue, ¥or explanation of column headings, &c., see notes of of Par I Outst~~g Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. I ' Cent. Payable Whom. Dividend. <Jhicago Milwaukee d: St. Paulr-(Ooncluded.)- Fargo & Southern income bonds...... . . . . . . . . . . . . . ... 1885 Terminal mortgage, gold ........ • • • • • • • • · · · · · · · · c* - . . . 1884 $1:ooo Dakota & Gt. South'n 1st M. g. ($18,000 per mile.). 1 5 9 1886 1,000 1,000 ·Chic. & Mo. Riv. Div. lstmort. ($20,000p. m.) .. c* 154 1886 1,000 Inc. M., convert., s. f. $80,000yearly(dr. at105)c* 525 1886 •Gen. mort., gold (for $150,000,000) Series A.c*&r .. . . 1889 lOOO&c. 1,000 Mil.&Northern-lst mort. Schwarz. to Gr. Bay.c* 1 2 6 1880 Cons. M. ($17,000 p.m.), 1st north of Gr. Bay.c* 362 1884 1,000 1,000 <Jhic. d: North Pac.-Ch. &Gt. West.lstM.g.int.gu.c* 10 1886 1,000 Consol. mort. for $30,000,000, gold, int. guar .c*&r .... 1890 <Jhicago d: Nortnwestern-Common stock . ... . ....... 4,250 100 Preferred stock (7 p. c. yearly, not cumulative) .. 4,250 100 1,000 Peninsular RR. 1st mortgage on road and lands. 7 4 isiis 1,000 Chic. & N. W. consol. sink.fund, mort., not drawn. 776 1865 1,000 Chic.& Mil.1st mortgage, Chicago to Milwaukee 85 1863 Ced. Rap.&Mo.R.lstm. 2d. Div., Marsh'l'tn to Des. M. River,&c 58 1863 500 &c. tst mort. 3d Div., Des. M. River to Mo. River 146 1866 500 &c. Mort. of 1884, 2d M. Ced. R. to Des M. River.. 126 1884 Iowa Midland 1st mort., Lyons to Anamosa.... 69 1870 1:000 Madison extens.lstM., g. (s.f. $23,000, not dr'n) 129 1871 500 &c. Menominee ext.1st M., g. (s. f. $20,000, not dr'n) 120 1871 500 &c. Northwest. Union lstM.,g.,Mil.to Fond-du-Lac. 62 1872 500 &c. Chic. & N. W. general consol. M., g., s. f., not dr'n 1,058 1872 500 &c. Menominee River 1st mortgage, two series . . . . . . 35 '76-'80 Mil. & Mad. 1st mortgage, Milwaukee to Madison 81 1880 1:000 Chicago & Tomah 1st mortgage ................ c. 153 {1880 ·· -· 1882 Chicago Milwaukee & N. W. construction bondB 5 1,000 Escanaba & Lake Superior RR. 1st mortgage. . • . 36 1881 ---- ---· INCOME ACCOUNT. 1889-90. 1888-89. Beceipts- $ $ N et earnings ............. . Other income ...... . ...... . 8,874,175 225,778 9,232,610 220,025 Total net income . .... . 9,099,953 9,452,635 7,054,471 972,490 (412onpref.) 7,214,155 1,296,828 (6onpref.) Disbursernents- interest on debt .. . ....... . Dividends ............ . ... . Rate of dividends ........ . Total disbursements.. 8,026,961 Balance* ...... ............ sur. 1,072,992 GENERAL BALANCE 1889. .A.ssets$ Road and equipment .....• 183,889,871 1,197,965 Bonds and stocks owned. 195,254 Due from agents, &c .. ... . 316,003 Due from U. 8. Governm't 1,932,491 Materials and fuel. ....... . 738,000 Bonds of comp'y on hand. 2,936,609 -Cash .... . ................. . 1,358,812 Miscellaneous .........•... Total assets...... .. . .. 192,565,005 Lial>ilities- Stock, common. ......... . . 39,868,961 .Stock, preferred........... 21,610,900 Funded debt.............. 123,765,000 Pay-rolls, vouchers, &c. .. 2,183,076 Interest accrued, not due. 3,478,497 Loans and bills payable. . . Miscellaneous........ . . . . . 119,889 Income account........... 1,538,682 8,510,983 sur. 941,652 , JUNE 30. 1890. $ 1890-91. $ 9 137 724 '334' 207 ___ ,_ 9 471 931 ' ' 7 237 251 1'532'152 (7 on pref.) ·8 769 403 ' ' sur.702,528 1891. $ 185,631,301 1,233,388 214,957 247,858 2,407,369 2,178,000 2,961,930 1,449,498 189,624,728 7,337,244 256,914 276,251 2,313,223 5,692,000 3,493,760 2,026,284 196,324,301 211,020,441 39,868,961 21,839,900 125,693,000 2,880,278 3,529,492 . . . .. . . . 93,156 2,419,514 46,02-7,261 22,198,900 129,797,000 2,786,778 3,546,775 3,477,228 91,646 3,094,853 Total liabilities .. - . . .•. · 192,565,005 196,324,301 211,020,441 -(V. 51, p. 240,343,381, 383, 384,!416, 570; V. 52, p. 41, 427; V, 53, p. 125,157,200,222,288, 291.) Chicago & Northern Paclfic.- This company was organized in 1890 in the interest of the Northern Pacific Railroad to acqll.lre the important terminal property at Chicago owned by the Chicago & Great Western, &c. The Chicago & Calumet Terminal Railway, extending from Hammond, Ind., via Blue Island and Worth to La Grange, 50 miles -0:f track in all, crossing 26 lines of railroad entering Chicago, has also been acquired by parties interested in this company. Leased to Wisconsin Central for 99 years, and lease assumed -b y Northern Pacific, rental not to be less than $350,000 per annum, payable in gold, and in addition such sums as may be needed to pay interest on bonds, taxes and organization expenses. See abstract of lease in V. 52, p. 468. 'The Baltimore & Ohio uses this company's terminals under a lease or -contract by which they pay (as reported) 1 :is per cent on $26,000,000, .as rental, though it is presumed that such payment will not be due in full till all terminals are completed. Other tenants are the Wisconsin .Central, the Northern Pacific and the Chicago St. Paul & Kansas City. There is a purchase money mortgage to the City of Chical$'o for $650,· -000, bearing 5 per cent and due May 1, 1938. The consolidaied mortgage (trustee, Farmers' Loan & Trust Company) is for $30,000,000; see abstract V. 52_, p. 465. Stock is $30,000,000; par, $100. (V. 50, p. 662, 735, 770; V. o2, p. 427, 428, 465, 831; V. 53, p. 640, 880.) Chicago & Nort hw-estern.-(See Map)-LINE OF Ro~The Chicago & Northwestern operates 4 , 273 miles of its own roads and controls Chicago st. Paul Minneapolis and Omaha, 1 , 438 miles; Fremont Elkhorn & Missouri Valley, l,l5 2 miles·, Wyoming Central, 130 miles, .and Sioux City & Pacific, 107 miles; total controlled1 7,100 miles. The -ma.in line from Chicago to East Omaha, Ia., is 492 miles, and this forms practically the Southern boundary of the whole system. The Sioux -City & Pacific and Fremont Elkhorn & Missouri Valley (including Wyoming Central) are operated separately (1,390 miles), and their ..earnings not included in those of Chicago & Northwestern, but separ.ately stated in the annual reports in the CHRONICLE on p. 141 of V. 51 .and on p. 222 of V. 53. ORGANIZATION, &c.-The Chicago &Northwestern Railway was organ'!::!::~r9~th~:~o~~~any has Smee absorbed by consolidation a large In December, 1882, a controlling interest was acquired in the stock of •the Chicagc, St. Paul Minneapolis & Omaha Co. by the purchase of .53,800 shares of preferred and 93,200 shares of common stock. In July, 1884, tile leased lines in Iowa (Blair roads) were acquired on the terms stated in the SUPPLEMENT of June, 1885, ~nd prior issues. The fiscal year ends May 31. The annual meeting is held early in June In D ecember, 1 8 91, the Milwaukee Lake Shore & Western Railroad was bought by an exchange of C. & N. W. stock, viz.: 10 shares of C. & N. W. common for 9 of M. L. 8. & W., preferred and 312 per cent in eash; also 4 shares of C. & N. W. common for 5 of M. L. S. & W. The road will be operated separately ;jm b https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $200,000 4,773,000 2,856,000 3,083,000 1,840,000 12,720,000 2,155,000 4,003,000 399,000 23,431,000 39,052,883 22,333,170 132,000 12,767,000 1,700,000 6 .A. & 0. 5 g. J. & J. 5 g. J. & J. 5 J. & J. 5 J. & J. g. J. & J. J. & D. 6 J. & D. 5 g. J. & D. 5 g. .A. & o. 3 J. & D. Q.-M. 134 M.& 8. 7 Q.-F. 7 J. & J. 7 582,000 2,332,000 769,000 1,350,000 2,977,500 2,546,500 3,365,000 12,336,000 560,000 1,600,000 1,528,000 601,000 720,000 7 7 7 ·8 7 7 7 7 7 6 6 6 6 t g. g. g. g. F. & .A. M.&N. J. & D. A. & 0. A. & 0. J. & D. M. & 8. J. & D. J. & J. M. & 8. M.&N. M.&N. J. & J. N. Y., Office, 42 Wall St. do do do do do do do do do do do do do do N. Y., Office, 36 Wall St. N. Y.,Londo~Berlin,&c. N.Y.,Co.'sO 'ce,52Wall 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 'd o do do do do do do do do .April, 1895. July 1, 1914 Jan. 1, 1916 July 1, 1926 Jan. 1, 1916 May 1, 1989 June 1, 1910 June 1, 1913 June 1, 1936 .April 1, 1940 Dec. 26, 1891 Dec. 26, 1891 Sept. 1, 1898 Feb. 1, 1915 July 1, 1898 Feb. May June Oct. .Apr. June June Dec. July Sept. Nov. Nov. July 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1894 1916 1909 1900 1911 1911 1917 1902 1906 1905 1905 1905 1901 STOCKS AND BONDS.-Of the common stock $2,331,983 remained in the company's treasury in December, 1891, after the purchase of the Milwaukee Lake Shore & Western 11tock. Preferred stockhas a. prior right to 7 per cent; then common 7 per cent; then preferred 3 per cent; then common 3 per cent; then both classes share. Dividends since 1875 have been-On common stock in 1878 and 1879, 5 per cent; in 1880 and 1881, 6; from 1882 to 1884, inc l::. sive, 7; in 1885, 612; from 1886 to Dec., 1891, both inclusive, at rat 3 of 6 per cent yearly. On preferred in 1876, 212 per cent; in 1877, 31!a ; from 1878 to 1881, inclusive, 7; in 1882, 734; in 1883 and 1884, 8; in 1885, 712; from 1886 to Dec., 1891, both inclusive, at rate of 7 per cent yearly. . Price of common stock-In 1880, 87¾r@130; in 1881, 117@136; in 1882, 1241i>l5034; in 1883, 115141i>l401s; in 1884, 81121i>l24; in 1885, 843s1i>l1534; in 1886, 104141i>l20:is; in 1887, 104141i>l27:is; io 1888. 102:is1i>l16; in 1889, 102121i>l14 7e; in 1890, 981i>ll 7; in 1891, 10218@ 11834; in 1892 to January 22 inclusiv&, 114 7e1i>ll 734. Price of preferred stock-In 1880, 1041i>l4612; in 1881, 13118@147¼; in 1882, 1361i>l75; in 1883, 1341i>l57; in 1884, ll 71i>l49¼; in 1885, 119341i>l39 7e; in 1886, 135@144; in 1887, 1381i>145¼; in 1888, 136~ .@146; in 1889, 135'@144¼; in 1890, 1341i>l48; in 1891, 130@142¼; in 1892 to January 22 inclusive, 141¼1i>l4214. The sinking fund bonds of 1879 are secured by a deposit of mortgage bonds on the new roads acquired at the rate of $15,000 per mile, and the terms under which these are issued were published in V. 29, p. 277. $6,305,000 of them are 6s, and the sinking fund is at least 1 per cent of outstanding bonds, the bonds being drawn at 105. There are several small issues of bonds in addition to those in the table above, viz.: Minnesota Valley Railroad, $150,000 7s (April and October), due October 1, 1908; Plainview, $100,000 7s (March & September), due September 1, 1908; Chicago Iowa & Nebraska, $129,000 first mortgage 7s (February and August), due August 15, 1892; also $1,739,500 live bonds in the sinking funds, May 31, 1891. The sinking fund debentures of 1933 were issued to pay for the Chicago St. Paul Minneapolis & Omaha stock; the sinking fund for these bonds is $200,000 per year, if they can be redeemed at 105. In June, 1884, $6,000,000 5 per cent debentures and in 1891 $10,000,000 similar debentures were authorized; any future mortgage on the property of the company, excepting any mortgage "for the en~t~~Tfn~~}d~c~·i:~~e~t:;es~xtens1on of the company's property" The Chica.go & Northwestern extension bonds of 1886 are direct bonds of the Chicago & Northwestern Company, secured by the deposit in trust of the first mortgage bonds of roads constructed or acquired, at 11 rate not exceeding $20,000 per mile. The mortgage is for $20,000,000, and the Union Trust Company of New York is trustee. The Fremont Elkhorn & Missouri Valley bonds have a first lien on 1,152 miles (Fremont, Neb., to Deadwood, D. T., 557 miles, and branches to Hastings, Albion, &c., 595 miles), but besides the amount of issue given as outstanding in the table $10,675,000 are held as part collateral for Chicago & Northwestern extension bonds of 1886. The Northwestern assumed $3,600,000 of the Fremont Elkhorn & Missouri Valley bonds and guarantees the remainder. ,,1 3:xJRB -~ LAND GRANT.-The lands of the company have been acquired by the purchase of the Winona & St. Peter and other roads that have been consolidated. The Commissioner's report for 1890-91 showed that the total consideration for the lands and lots sold in that year amounted to $431,674. Net cash receipts were $433,127. The statement of amount.a secured to be paid to the company by outstanding contracts of sale in force at the end of the fl.seal year showed a total of $1,063,920. The lands unsold and uncontracted for May 31, 1891, were 869,929 acres OPERATIONS, FINANCES, &c.-The Chicago & Northwestern Ra.llwaT has pursued the policy of extending rapidly its lines in the Far West. Fiscal year ends May 31. The surplus of the year 1890-91 from operations w11,s as follows: From the Chicago & Northwestern Railway, $234,758; from the Trans-Missouri lines, $51,951; from the land department, $433,127; total, $719,836, available for improvements, &c. The follo'<Ving statistics are for the Chicago & Northwestern proper; the statistics of the Trans-Missouri lines are given in the CHRONICLE, v. 53 • p. 199 ' 222 · ROAD AND EQUIPMENT. I 1890-91 1887-88. 1888-89. 1889-90. 4,211 4,250 4,250 4,273 766 786 806 846 509 546 558 558 24,262 25,746 26,384 26,348 OPERATIONS AND FISCAL RESULTS. . cts. Operations21·02 30 cts. Ratep.pas~.p.m. 2·24 cts. 2·17 cts. 2·17 ets Rate p. toiip.m. * 1 ·0l cts. 0·98 eta. 1 ·02 eta Earnings$ $ $ $ Passenger...... . ..... 6,279,621 6,261,277 6,285,179 'ii 6,700,351 Freight................ 19,118,797 18,193,646 19,654,213 .119,829,341 . Mail, express, &c.. .. 1,299,140 1,237,336 1,225,445 1,263,982 - - - - - - - - - - - _,_ Total earnings.... 26,697,558 25,692,259 27,164,837jl27,793,674 ·- · On paying freigl1t only. Tot. miles oper'd Lo ti Pa~~:./4c':.~!rs:: Fr'ght,&c.,cars.. I MAP OF THE CHICAGO & NORTH WESTERN RAILWAY SYSTEM. '\ = c( ,_ z 0 2 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H ~ U1 1-'.3 0 ~ ua U1 ~ 1-'d ~ t- ~ ~ ~ ~ 1 ~ <I .:- " JANUA RY, RAILROAD STOCKS AND BONDS. 1892,] 37 Subscrib ers -will c o nCer a grea t Ca v o r by giving linm edlate notice oC any erro r discovered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on :first page of tables. INTEREST OR DIVIDENDS. Bonds-PrinclMiles Date Size, or Amount - - - - - - - - - - - - - - - - - pal,When Due. of of Par Outstanding Rate per When Where Payable, and by Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. OhicalfJ. d: N orthwestern-( Ooncluded.)Des oines & Miml. lat M. ,Des M. to Jewell.Tc. ,&c. 63 Ottumwac. F. &St. P. lstM., guar.($25,000p.m.) 64 Northern Illinois l at mortgage ($20,000 p. mile). 75 C.&N.W.s.f.b'ds of '79($15,000p.m.)red.at105.c&r 1,041 Sinkinf: fund deb entures of 1933 (not dr'n).e*&r Deben ure bonds of 1909 (for $6,000,000) .c*&r 30-year debentures for $10,000,000 ........ c*&r .... Exten sion 4s ($20,000 per mile) . .... . ....... c&r .... Other small issu es (see remarks) . ..... . ...... . .... ·-- Winona & St. Peter 2d mortgage (now 1st) guar. . 139 1st mortgage exten s., gold,land grant, s.f.,g uar. 187 MapleRiverlstm.,MapleRiv. J c. t o Mapleton,g u. 60 Roch. & No. Minnesota 1 st mortgaje, guar . ... . .. 24 Dakot a Cent. l stM.,Watertownto edfi.eld, guar. 71 1 st mort. on Southeast Div . (to H awarden) guar .. 125 Fremont Elk. & Mo. Val. consol M. (see remarks). t,152 S. C. & P a c. Car Tr., a ss'd,$40,000 dr'n yearly.c ...6 Sioux: City & Pac. pref. stock (1 st mort. on 6 m.). 1 st mortgage (assumed by C. & N. W.) .......... 102 2d M. Governm't lien (a ccrued int. $2,237,749). 102 Mo. V. & Blair RR. Bridge, 1 st, re'ble after 1893. Ohicago d: Ohio River-1st mortgage (for $500,000) ·s6 Income bonds ...................................... ···Ohicago Pe<>ria cl: St. Louis-lat mort., gold, ~ar.. c* 120 1st consol. M. fc· ($15,000 p. m) (300,000 are 6s).c* 170 Consol. mort. or $20,000 per mile, gold . ....... . c 170 Jacksonville Louisv. & St. L. 1 st consol. M. gu.c* 112 ChicagoRockislandd:Pac.-Srock (for $50,000,000) 1st mort., Chic., Ill.t to CouncilBluffs&branches.c* Chic. & South-,. ls M. (g'd in cur. by C.R.I.&P.). 268 1882 1884 1885 1879 1883 1884 1891 1886 --- · 1870-1 1871 1877 1878 1882 1882 1883 1883 .... . 1868 1868 1883 1886 1886 1888 1889 1891 1890 """ I 1887-88. Expenses$ Matn~~ance of way. 3,351,700 cars, &c. 2,507,673 Transport'n & miscel. 10,055,684 Taxes...... . .......... 755,742 1888-89. $ 1889-90. $ 1869 i877 $1,000 $600,000 7 1,000 1,600,000 5 1,000 1,500,000 5 l,OOO&c 14,185,000 5&6 l,OOO&c 9,800,000 5 1,000&c 3,869,000 5 1,000&c 5,000,000 5 1,000&c 18,632,000 4 379,000 .. 1:000 1,592,000 7 100 &c. 4,067,500 7 g. .... 402,500 7 200,000 7 ..... 1,007,000 6 . .. . 2,000,000 6 1,000 7,725,000 6 1,000 199,000 6 100 169,000 312 500 &c. 1,628,000 6 500 &c. 1,628,320 6 1,000,000 6 100.&c. 250,000 6 g. 618,300 6 ---1,000 1,500,000 5 g. 1,000 1,041,000 5 &6 g. 1,000 (1) 5 g. 1,000 1,680,000 5 g. 100 46,156,000 1 1,000&c 12,100,000 6 100 &c. 5,000,000 7 --- - F. & A. N.Y.,Co.'s0fflce,52Wall do do do do A. & 0. do do M.&N. do do M.&N. do do A15&0 do do F. & A. do do do do M. &:°N. do El.o J. & D. do do J. & J. do do M. & S. do do M. & S. do do M.&N. do do A. & 0. do do M. & S. do do A. & 0. do do J. & J. do do J. & J. U.S. Tre as., at m aturity. J. & J. N.Y., Bost . Col. Nat. Bk. M.&N. Int. funded for 3 years. M.&N. No coupons paid. M. & S. N. Y., Amer. Ex. Bank. M.&N. do do J. & D. do do J. & J. N.Y.,Am.Ex.Bk.&Phlla. Q.-F. New York and Chicaf.o. J. & J. N. Y., 13 William S . M.&N. do do M. & S. M.& s. 0 Feb. 1, 1907 ·Mch. 1, 1909 Moh. 1, 1910 Oct. 1, 1929 May 1, 1933 Nov. 1, 1909 Apr. 15, 1921 Aug. 15, 1926 1892-1908 Nov. 1, 1907 Dec. 1, 1916 July 1, 1897 Sept. 1, 1908 Sept. 1, 1907 Nov. 1, 1907 Oct. 1, 1933 Mar. 1, 1896 Oct. 1, 1891 Jan. 1, 1898 Jan. 1, 1898 Jan. 1, 1923 May 1, 1916 May 1, 1916 Mar. 1, 1928 May 1, 1939 June 1, 1941 Jan. 1, 1940 Feb. 1, 1892 July 1, 1917 Nov. 1, 1899 1 1890-91. which the company proposes to build from Rock Island to a point on the Illinois River opposite Havana, also on a line, if built, from Litchfield to Springfield; the Metropolitan Trust Co., of N. Y., is trustee. In September, 1890, leased the North & South illinois (which see). The Chicago Peoria & St. Louis 1st mort~age bonds were described . in CHRONICLE, V. 48, p. 223. The :first consolidated mortgage (trustee, Central Trust Co.) is limited to $15.000 per mile on present mileage, and on any extension from Litchfield ro Spring:fl.eld, if built; of the authorized issue, $1,500,000 is reserved to retire :first mortgage at maturity The Jacksonville Louisville & St. Louis is successor to the Jacksonville Southeastern, which was sold in foreclosure May 11, 1890. Its bonds are guaranteed principal and interest by this company, which owns $1,000,000 of the Jacksonville road's $1,500,000 stock. Srock of Chicago P eoria & St. Louis RR., $3,500,000. For year ending June 30, 1891, gross earnings on whole system were $905,331; net, $280,186. From July 1 to Dec. 31, 1891, estimated gross earnings were $598,869; net, $209,604; interest charges same time, $107,025. w. s. Hook, President, Jacksonville, Ill. Chicago Rock Island & Pacl:fl.c.-(See Map)-LINE OF ROAD.Owns from Chica"'o to Council Bluffs, 499 miles; Davenport, Ia., t.o tJ~~!s/~~tai,3{}ifl~~J6 branches ro Knoxville, St. Joseph, ere., $ 3,160,704 3,680,437 3,353,694 2,376,125 2,569,167 2,855,480 9,788,821 10,401,398 11,227,355 701,637 854,476 754,103 Total expenses . . . 16,670,799 16,027,287 17,405,105 18,291,006 Net earnings ...._..... 10,0261759 9,664,972 9,759,732 9,502,668 P. c.exp. ro earnmgs . 62•44 62·38 64·07 65·81 INCOME ACCOUNT. _ . _ 1. 1887·88. 1888-89. 1889 90 1890 9 Receipts$ $ $ $ Net earnings .. . ....... ;t0,026,759 9,664,972 9,759,732 9,502,668 I nvestments, etc .. ... 528,948 285,377 340,739 259,585 ---Total receipts .... 10,555,707 9,950,349 10,100,471 9,762,253 Dislrursements5 825 833 5 826 936 5 880 390 lnterest on debt...... 5,744,105 Dividends. .. . .... . . . . 3,444,504 3' 444' 504 3' 444' 979 3' 445' 804 Sinking fund.......... 58,000 ' 58:000 '202:570 '2oi:301 Total disbursm'ts. 9,246,609 9,328,337 9,474,485 9,527,495 Balance, surplus ..... 1 , 309 , 099 , 012 , 622 MAY 234•758 GENERAL BALANCE 31. 625 986 1889. 1890. 1891. .A.ssets$ $ $ Road and equipment ........... 150,822,658 153,403,472 157,193,271 Bonds owned. . .... . ............ 11,199,310 11,219,551 *14,912,909 Stocks owned. ............ . ..... 12,467,159 12,151,500 tll,966,500 Land grant investments....... 276,000 422,794 675,000 Bills and accounts receivable. . 1,977,541 1,825,439 1,751,922 Materials, fuel, &c.... .•..•.. ... 1,644,709 1,978,007 2,026,245 Cash on hand . ••••• ••••••••· -•·. 3,204,384 2,148,880 2,680,248 Trustees of sinking fund....... 4,522,402 4,747,971 5,600,101 Also owns road formerly belonging to the Chica&o Kansas & Nebraska. Ry. Co.-Elmwood, Kan., to Liberal, Kan., 440 m· es; Herin~on, Kan., to El Reno.., I. T., 232 miles; Horton, Kan., to Roswell, Col., :>69 miles; McFarlanu, Kan., ro Belleville, Kan., 104 miles; branches ro Salina etc., 126 miles; (rotal Chicago Kansas & Nebraska, 1,486 miles); gra,.:nd total owned, 2,725 miles ; total leased, 353 miles. Leases; Peoria & Bureau Valley Railroad, Bureau Junction to Peoria, 47 miles; Keokuk & Des Moines Railroad, Keokuk ro Des Moines, 162 • Des Moines & Fort Dodge Railroad, Des Moines to Fort Dodge and Ruthven, 144 miles. Leases trackage: Cameron ro Kansas City, Mo. (over Hannibal & st. Joseph Railroad); Kansas CitI to North Topeka, and Limon, Col., t.o Denver (over Union Pacific Railroad); Denver ro Pueblo (over Denver & Rio Grande), rotal 330 miles; grand rotal April 1, 1891, 3,408 miles. ORGANIZATION.-The Chicago & Rock Island RailI·oad was chartered Total. .. • . • .. ••••·••••·· - • •. • 186,114,163 187,897,614 196,80 6,196 in Illinois February 7, 1851, and opened from Chicago to the Mississippi LiabilitiesRiver, July, 1854. The present Chicago Rock Island & Paoi:fl.o was a Srock, common and preferred,. 63,700,320 63,720,320 t63, 720,320 consolidation June 4, 1880, with $50,000,000 srock authorized, and a Brocks of propriet'ryroads, &c. 584,360 579,110 529,885 srock dividend of 100 per cent to the holders of Chicago Rock Island Bonded debtll ... . ............... 105,121,500 104,985,500 112,570,500 & Paci:fl.c stock. The annual election occurs in June. The Chicago Dividends d eclared, not due... 1,331,599 1,332,075 l,332,<i75 Kansas & Nebraska theretofore leased was purchased at foreclosure sa1e -i,522,400 4,747,970 4,972,271 in April, 1891, and is now owned in fee simple. See V. 53, p. 223 . .Sinkin~ funds J.>aid. .. . . . . . . . . • . 627,830 STOCK AND BONDS.-Dividends since 1876 :-In 1877 and 1878, 8 per .A.eoretion_s to smking fund.... Current bills, pay-rolls, &o..... 1/294;873 2,io2Jo9 1,946,601 cent; in 1879, 10; in 1880, 812 cash and 100 per cent in stock; from g~~~~°o1:lsc~uri-:~.~.~-.·.·:::: ~i8e; !~~~~~1si~s}~~r~~~.1n~'r6c1:Jl_n 1889, 4; in 1890,4; in 1891 Note of Consol'n Coal Co...... 125,000 125,000 Price of srock: In 1881, 1291il1485s; in 1882, 1221il14014; in 1883, Accrued and a ccruing interest. 1,574,828 1,573,344 1,649;017 116121ill2714; in 1884, 100141il126!4; in 1885, 1051ill32; in 1886, 12018 Miscellaneous. ..... . . . . . . . . . . . . 167,369 244,649 120,087 @131; in 1887, 109@1407e; in 1888, 94 7e1ill1412; in 1889, 8912@1043s; Land income a ccount.......... 1,570,715 1,954,421 2,387,548 in 1890, 61121il985s; in 1891, 633s@901s; in 1892, to Jan. 22, inclusive, Railroad income account...... 4,925,649 5,371,977 5,470,733 8812@9414. The extension and collateral trust 5 per cent bonds of 1884 (trus~e Total. ....•........•.•••..... 186,114,163 187,897,614 196,806,196 of mortgage United States Trust Company) are issued at the rate of * Includes Fremont Elkhorn & Missouri Valley consols and Wyoming $15,000 per mile for single track, $5,000 per mile additional for equipd d 1 d d 11 t 1 f t · ment and $7 500 for second track. They are secured by the Central R ilr0 d fl t fours of 18i6, $11,Jf 5~oio":1-e an P e ge as co a era or ex ension direct lien of a fust mortgage or by d eposit with the trustee of an equal t Includes Chicago st. Paul Minneapolis & Omaha stock, $10,000,000; amount of :first mortgage 6 per cent bonds of branch lines. After July Fremont Elkhorn & Missouri Valley stock, $1,966,500. Also owns Chi- 1. 1894, they are redeemable at 105 in the order of their numbers. beoago & Northwestern common srock, $10,007,520, and preferred srock, ginning with the lowest. (See abstract of the extension and collateral ,$2,284-included on other side of the account. trust mortga ge, etc., in CHRONICLE, V. 47, p. 260, 261. 262.) In Nov., : Including $10,007,520 common, and $2,284 pref'd in co.'s treasury. 1891, the amount outstanding was increased $1,470,000 to pay for II Includmg live bonds in sinking funds and owned by company, which the 98 miles road built in 1889 from Pond Creek to Minco, I. T . .amounted May 31, 1891, to $1,739,500. In April, 1891, the Chicago Kansas & Nebraska mortgage for $26,· (V 50 p 154 174 800 v 51 p 141 157 v 52 p 219 -61 832 000,000, the bonds secured . by which were deposited as yart security · ' · 156 ' 199 ' ; · 793 ' · 922 ' ; · ' · ' ' ' ' for the ex tension and collateral 5s, was foreclosed in the mterest of the 862 53 222 ; V. , p. • , • • >· collateral trust bondholders. The extension and collateral trust 5s are Chicago & Ohio Rlver.-Line of road from Sidells, ill., ro Olney, now a direct lien on the Chicago Kansas & Nebraska mileage, instead 86 miles. Su ccessor of the Danville Olney & Ohio River, foreclosed in of a collateral mortgage as formerly. See v. 52, p. 427, 680, 795; v. February, 1886. Three years' coupons of the :first mortgage bonds 53 223 have been fu nded. Stock authorized, $1,500,000; outstanding June 30, debentures of 1891 (U. 8. Trust Co., trustee) were i ssued to pay 1889, $438,800; par, $100. In 1888-89, gross $77,016; net, $13,290; in- for terminals and betterments as needed. The issue is for $10,000,000 terest, $13,980; deficit, $690, against $15,285 in 1887-8. Austin Corbin, and the bonds are redeemable on notice any coupon day at 105. Vice-Presiden t . From April 1, 1891, to August 31, 1891 (5 months), gross earnings _Chicago Peoria & St. L_ouis.-Owns ~om Pekin,_1ll., to .Jackson- (e~tilil:ated) on 3,408 miles were $6,872,676, against$6,684,628 on 3,339 ville, ill., and H avana to Sprmgfl.eld, 120 miles, and Litchfield ro East miles m 1890. St. Louis. 50 miles; u ses tho Merchants' Bridge inro St. Loms, and leases The fl.seal year ends March 31. Annual report for 1890-91 in full was Springfield to Litchfield, old St. Louis & Chicago RR., etc., 50 miles. in V. 52, p. 875, 898, 900. Earnings, &c., have been as follows: -Operat ed in close connection with the Litchfield Carrollton & Western. 1888- 89. 1889-90. 1890-91. Barnett ro Columbiana, 52 miles; the Louisville & St. Louis, Centralla. Miles owned and operated . 3,257 3,339 3,408 -to_ Drivers, 17 mil~s; and the Ja_cksonville Loll!-sville & St. Louis, 112 Earningsmile&; J acksonville ro Centralia , ill., 112 miles; total syst em 401 i Passenger ........ . ......... . $4,358,502 $4,613,822 $4,762,894 miles. The · extension ro East St. Louis, 50 miles, was completed in ' Freight. ...... . ............ .. 10,918,370 11,828,794 11,513,845 August, 1 890, and in November, 1890, under a traffic agreement with • Mail, express, rentals, etc.. 1,296,575 1,196,445 1,196,895 ·t h~ Atchison Topeka & Santa Fe, a through line was opened between ~hicago al!,d St. Louis. (V. 51, p. 608.) An extension to Rock Island Gross earnings .......... $16,573,447 $17,639,061 $17,473,634 1s to be built. I Operating expenses . ....... . 12,086,000 12,475,067 12,413,794 In ;rune, 1 891, a new consolidated mortgage was filed, securing bonds :• ~e issued at $20,000 per mi_le upon present mileage (sufficient bonds Net earnings ...........• $4,487,447 $5,163,994 b emg reserv ed to return prior bond.i when due) and upon the line P. o. of oper. e~. to earns.. 72·92 70·72 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1,6ti:t~~ iit~g dZa~~ Tle I l j ---- ----- ------ • '-•~-i 0 11 :1 ~ ~ ~WSTON i NAT IONA .. w N (I) AR K! '-'-------~ § rn 8 0 t:d ~ r1.J ~ ~ ; ~ MAP OF THE CHICAGO, ROCK ISLAND I 1' https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I -1 ! • N E 0 AND PACIFIC RAILWAY SYSTEM 1 AND ITS CONNECTION& :1 ~ JANUARY, RAILROAD STOCKS AND .BONDS. 1892.J 39 Subscribers will confer a great f'avor by giving Immediate notice oC any error discovered In these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-PrinciMiles Date Size, or Amount pal,WhenDue. For explanation of column headings, &c., see notes of of Vpalaure. Outstanding R ate per When Where Payable, and by Sto~ks-Last on first page of tables. Road. Bonds Cent. Payable Whom. Dividend. -Ohicago Rock Island <I: Pacijic-(Concluded.J 1st M. ext. and col. ($20,000 p. m.) red. aft. '94.c&r 1,892 Debenture bonds (redeemable at 105) ........ c&r. ..... <Jhic. St. P. & Kan. City-Stock ...................... ---Priority loan, redeemable at 105 .................. 815 Minn. & Northwestern 1st M., $16,000 p. m.c* 515 'Ch. St. P. & K. C. 1st M. g. (re . Jan., 1896).c*&r 815 General mortgage (1st coupon due Jan. 1, '93). 815 Income b'ds (conv. into 5 per cent pref. stock). .... Equipment lease warrants ...................... ··-· f' ... .. ...... -07j,i;:fe~!:a.~t::~:~~~~~1!_~l!~. ~. ~.~~~~~~.· .~~~~~: .St. Paul Stillwater & Taylors' Falls 1st mort .... c 21 12 Hudson & River Falls 1st mortga{e .............. c Chica&o St. Paul & Minn. 1st mor gage, gold ... c* 177 Bt.P. Bi'xC. lstM.,g.($7,000,000)$10,000p.m.c 607 North Wisconsin 1st mortgage ................... c* 80 Consol. mort., for $30,000,000 ($15,000 perm.) .c~ 1,347 Bault Ste. Marie & Southwestern 1st M., guar.... c 37 -Ohic. & West. Indiana-1st M., ~·• s.f., dr'n at 105.c* 48 General mort..iftold, sinking und, red. at 105 .. c* 48 <Jhicago ct West ich.-(Stock author. ($6,800,000). General mortgage ($12,000 p. m.) ............... c* 489 Chio. & No. Mich.1st M., guar., $18,000d:ermile.c* Chippewa Valley-IstM., g., $&£ for $1, 00,000 .c* 47 65 <Jti~:h-e~~:zc:rfJ~i!!. ~·:~~~~~~~~•~~?. ~~~ ~~~~: 65 INCOME .ACCOUNT. 1889-90. $ 1884 1,000&c $34,989,000 1891 1,000&c 2,000,000 100 14,892,900 -··· 1889 1,882,100 ····1,000 1884 9,628,000 1,000 1886 9,273,000 1889 lOOO&c. 4,829,000 1888 100 &c. 4,981,700 ..... ..... 1,524,539 ..... 100 18,559,427 ..... 100 11,259,913 1878 500 &c. 334,800 1,000 125,000 1878 3,000,000 1878 500 &c. 1,000 1879 6,070,000 1,000 1880 800,000 1,000 13,413,000 1880 1,000 1890 400,000 1879 1,000 2,003,000 1882 1,000 6,951,666 100 6,638,200 1,000 5,410,000 1891 1,000 See remarks. 1,000 1888 700,000 1,000 hypothec't'd 1890 1891 .... 500,000 1890-91. 5,163,994 91,350 35,950 1,209,640 Total income ....••...•.••.•••••.•..••......• 6,500,934 6,375,152 Rent leased roads ...........••.••.......•...••.• 'Interest on debt ................................ . Missouri River bridges ...•....••................ Dividends (4 per cent) .....•...........•.•••.•.• 1,784,024 2,625,550 195,580 1,846,228 1,872,113 2,714,950 188,538 1,846,232 Disbursements- $ 5,059,840 98,650 . .. . . . 1,216,662 Total disbursements........................ 6,451,382 6,621,833 Balance, surplus .......................... -··... 49,552 246,681 -(V. 51, p. 829, 875; v. 52, p. 41, 121, 238, 280, 427, 680, 795, 862, 875,898,899,900; V. 53, p. 157,223,474; V. 54, p. 119.) Chicago St. Lou18 & Plttsbur~.-See PITTSB. CIN. C. & BT. L. Chicago St. Paul & Kansas Clty.-Main lines (all steel) Chicago to St. Paul and St. Joseph, 690 miles;· Hayfield to Manley .Junction, 47 miles; branches-Summer to Hampton, 64 miles; to coal mines, &c., in Iowa, 10~ miles; other, 4 miles; total owned, 81512 miles. Leases-St. Paul to Minneapolis, 1012·miles: Chicago terminals, 10 miles; Dubuque to Aitken, 16 miles; Des Moines terminals, 2·70 miles; trackage St. Jo. to Kansas City, 6734 miles; total leased, 107 miles. Total 92212 miles. Organized May, 1886. Amalgamated December, 1887, with Minnesota. & Northwestern, which was chartered in 1854. The Minnesota & Northwestern and Chicago St. Paul & Kansas City 1st mortgage coupons for 1891-92 are guaranteed to be punctually purchased, and will be funded into "five per cent sterling priority loan" redeemable in 1934, or on six months' notice at 105, the security for which is the purchased coupons deposited in trust. The priority loan bonds are limited to $2,823,150, of which $1,882,100 were issued by July 1, 1891, and the remainder will be issued in equal amounts halfyearly as the first mortgage coupons accrue in 1892. For details of funding plan see CHRONICLE, V. 49, p.372, 614. The Minnesota & Northwestern mortgage is limited to ,20,000 per mile; the bonds outstanding cover the road between Chicago & St. Paul (400 miles) and other road; total 511 miles, with bridge at St. Paul, and extensive- terminals in St. Paul, Minneapolis and Dubuque. Chicago St. Paul & Kansas City 1st mortgage bonds are a 1st mortgage upon 290 miles between Des Moines and St. Joseph and upon terminals In St. Joseph and Kansas City, and on other road 15 miles; and further h.ave a lien upon the mileage covered by the Minnesota & N.W. bonus. The general mortgage (trustees, Metropolitan Trust Company of New York and R. H. Benson of London) is for $10,000,000, plus such additional amounts as may be needed to replace the bonds now or hereafter issued under the mort~ge of 1886 and the Minnesota & Northwestern mortgage. They bear no interest till after July 1, 1892. Common soock authorized, $25,000,000: outstanding, $14,892,900 (par $100). Leases equipment costing $1,500,000 from the Railway Equipment Company of Minnesota, which see under Miscellaneous. In Jan., 1892, the Chicago Great Western, with $9,000,000 capital, was formed in the interest of this company. Fiscal year ends June 30. Report for 1890-91 was in CHRONICLE V. .:5-3,p. 473. EARNINGS, EXPENSES AND CHARGES. 1888-89. 1889-90. 1890-91. 750 845 Average mileage owned and oper'd 887 $ $ $ Total gross earnings..... . ......... Oper'gexpenses, taxes, insur., &c. 2,777,985 2,140,080 4,225,665 3,265,885 4,360,851 3,378,340 Netincome.................... . 637,905 959,780 982,511 Interest............ . .............. . Rentals . .......................... . 871,879 236,825 *54,590 296,235 *92,276 355,291 Deduct- Total............................ 1,108,704 350,825 447,567 Balance............................. def.470,799 sur.608,955 sur.534,944 * This interest is on the three-year notes, 5 per cent priority loan and eollateral notes. A. B. Stickney, Chairman of the Board. J.M. Egan, President, W. L. Boyle, Vice-President. New York office, 47 Wall Street.-(V, 51, p. 343, 608; v. 53, p. ~73; v. 54, p. 159.) Chicago St. Paul :Minneapolis & Omaha.-( See Map Ohicago ~ Northwestern.J-Main line-Elroy, Wis., to Omaha Neb., 593 miles; other lines, 801 miles; total, 1,438 miles, of which 1,347 miles are owned, 86 miles leased and 5 miles proprietary road. This was a consolidation July, 1880, of the Chicago St. Paul & Minneapolis (formerly West Wisconsm), the North Wisconsin and the St. Paul & Sioux City. The Sault Ste. Marie & S. W., 37 miles, was purchased in Harch, 1891, and its bonds guaranteed. There are also $75,000 Minneapolis East, Railroad first mortgage guaranteed 7s (J. & J.) due January 1, 1909. Stock authorized is: Com- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t ..3. 7 8 6 6 6 6 5 6 6 g. g. g. g. (1) issi ReceiptsN et earnings ........ ...•..•••••..••.....•....... From land department ..............,. ••••• ..... Premium on bonds, etc ....••..............••.•. Chicago Kansas & Nebraska interest .........•• $ 5 5 ..5.g. 5 g. 5 g. g. 7 5 5 5 g. 6 g. . ... J. & J. M.& s. J. J. J. J. J. . .. .. N. Y., 13 William St. do do & & & & & July 1, 1934 Sept. 1, 1921 .......... J. N.Y.,Lon:&Amsterdaru Jan. 1, 1934 J. See remarks. July 1, 1934 J. do July 1, 1936 J. Nointer' stduetill1893. Jan. 1, 1989 None paid. J. July 1, 1936 ....... .......... 1892-1901 ····-·-··· ····---J. ..&.. J. N. Y., Office, 52 Wall St. Jan. 20, 1892 J. & J. do do Jan. 1, 1908 do J. & J. do July 1, 1908 M.& N. do do May 1, 1918 do do A. & O. Apr. 1, 1919 do do J. & J. Jan. 1, 1930 J. & D. do do June 1, 1930 M.&N. do do Nov. 1, 1912 M. & N. N. Y., Drexel, M. & Co. Nov. 1, 1919 Q.-M. do do Dec. 1, 1932 F. & A. ,Boston Of., 50 State St. Feb.16,1892 J. & D.,Bost'n,Nat.WebsterBk. Dec. 1, 1921 Boston. M. & N. May 1, 1931 Jan. 1, 1929 Jan. 1, 1920 Dec. 31, 1891 1.;..y•w Y~:~:~'.ttdon. mon, $21,403,293; preferred, $12,646,833; outstanding, common, $18, - preferred, $11,259,913; par $100. I559,427; In November, 1882, a controlling interest in the stock was purchased for the Chicago & Northwestern Railway by the acquisition of 93,200 shares of common at an average· price of 48·40, and 53,800 shares of preferred at an average of 104·04-the total cost being $10,315,659, which stock is held as an asset of the Chicago & Northwestern Co. Preferred stock has a prior right to non-cumulative dividend of 7 per cent; but common is never to receive more than is paid on preferred. Dividends on preferred stock: From 1881 to 1884, inclusive, 7 per cent; in 1885, 434; from 1886 to 1888, inclusive, 6 per cent; in 1889, 3; in 1890, 4; in 1891, 4; in 1892, Jan., 3. Report for 1890 was in CHRONICLE, V. 52, p. 461. The land ea.lee 1n 1890 were 31,293 acres, for $87,202, including lots; land contracts and notes on hand December 31, 1890, $984,755; lands undis_posed of, 588,493 acres. Earnings, etc., have been as follows: INCOME .ACCOUNT. 1888. 1889. 1890. Grossearnings .................. $6,411,137 $6,417,857 $6,848,320 Net earnings .................... $1,762,979 $1,933,446 $2,059,751 561,426 Net from land grants........... 506,062 450,715 Total income ........•..•.... $2,269,041 $2,494,872 $2,510,466 Rentals, etc., paid.............. $91,275 Interest on debt, less credits ... 1,309,733 Dividends on pf. stock (4 p. c.). 450,272 $90,644 1,323,614 450,272 $92,731 1,280,228 450,272 Deduct- Balancesurplus ......... . ....... $417,761 $630,342 $687,235 -(V. 48, p. 372,459; V. 50, p. 370,449; V. 52, p. 293,461,534, 832.) Chlcao-o & Western Indlana.-0wns from Dolton and Ham• mond, iif., to Chicago, with a belt railroad and branches, with warehouses, elevator, &c., four main tracks, aggregating 98 milest and with sidings1156 miles of track in all, includin~ 2d, 3d, 4th and siaing track (of which 51 miles are leased to Belt Railway of Chicago) and about 400 acres of real estate. Leases road and terminal facilities to the Wabash, the Chicago & Grand Trunk, the Chicago & Eastern Illinois the Chicago & Erie and the Louisville New Albany & Chicago, each of which five companies owns $1,000,000 stock, and also to the Atchison Topeka & Santa Fe ; the annual rentals stipulated exceed the interest charge considerably. . Capital stock, $5,000,000, all owned as above stated. Dividends-In 1890 4 per cent in cash and 20 per cent in stock of Belt Railway Co; in 1891, 1 per cent in June. The bonds are liable to be redeemed at any time at 105 by a sinking fund, which is provided for by increased rentals to be paid for that purpose. Sinking fund payments (in 1890 about $100,000) apply only to 1st mortgage bonds till these are all redeemed. In 1891, $1,000,000 new bonds were auth. orized for improvements, &o. Report for 1890 was in V. 52, p. 898. -(V. 51, p. 239, 569; V. 52, p. 204, 278, 862, 898; V. 53, p. 256.) Chicago & West :Mlchlgan.-Owns from Lacrosse, Ind., to Traverse City, 301 miles; Allegan to Pentwater, 98 miles; Big Rapids Junction to Big Rapids, 52 miles; other branches, 38 miles; total operated, 489 miles. Extension north from Baldwin to Traverse City, Mich., 74 miles, was completed in July, 1890. In 1887 leased to Chicago & Indiana Coal Railroad about 18 miles. Organized as successors of Chicago & Michigan Lake Shore January 1, 1879, and consolidated in September, 1881, with the Grand Haven Road and the Grand Rapids Newaygo & Lake Shore. There are also outstanding $24,000 Gr. Rapids Newaygo & L. Shore second division 7s, due June 1, 1905. The Chicago & North Michigan is to be built in the interest of this company from Traverse City to Bay View, 93 miles, and in March, 1891, Chicago & West Michigan stockholders had the right of subscribing to $1,675,000 of its first mortgage bonds, guaranteed principal and interest by this company, and to $830,000 of its stock, guaranteed same dividends as Chicago & West Michigan stock. See V. 52,.?. p. 427. Dividends since 1880-In 1881 and 1882, 212 per cent; in li:,83, 3; in 1884. 4; in 1885, 112; in 1886, 3; in 1887, 212; in 1888, 2; in 1889, 2; ln 1890, February, 1 per cent; August, 2 per cent; in 1891, February, 2 per cent; August, 112 per cent; in 1892, Feb., (1). From January 1 to Nov. 30, 1891 (11 months), gross earnings were $1,613,955, against $1,476,148 in 1890; net, $504,589, against $546,509; charges, $251,211, against $222,785; surplus, $253,378, against surplus of $323,724 in 1890. Report for 1890 was in CHRONICLE, V. 52, p. 533. In 18 0 gross earnings were $1,606,419; net, $563,795; surplus over char~es, $324,729 (against $125,466 in 1889); dividends (4 p er cent), ;i,265,528; balance, $59,201. (V. 50, p. 205,482, 661, 662; V. 51,p.171, 278; v. !'>2. p. 533; v. 53, p. 156, 187.) \J111ppewa Valley.-Projected from Mount Pleasant, Mich., t.o Manistee, about 120 miles. In 1890 purchased the Manistee & Luther RR., a lumber road, 47 miles. Stock authorized, $1,800,000; outstand• ing, $700,000-par, $100. Trustee of mortga<7e is Central Trust Co., N. Y. Office of company, 80 Broadway. (V. 50, p 632.) l •BHIU 3~A8 33UH8 ()J1octaw Coal&; .Rallway.-Inoperation from Wister, Indian. Territory, on St. Louis & San Francisco Railway, to South M0Ales1!er-1 Indian Territory, on Missourf Kansas & Texas, 65 miles. ProJecooa. IJ. 11 ~ CINCINmr HAM1LTON AND DAYTON RAI LROAO AND CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis § 00. ~ 0 pj ~ 00 ~~ z r3 ~\, o uv.a. ~ 2 ~ \ ~:\V- ~Frenchburg ,, \ IS ' fll \ - ~edrres - .tone K 1£! ~ JANUARY, 41 RAILROAD STOCKS AND BONDS~ 1892.] Subscribers will confer a great favor by giving IIDIDedlate uotlce of any error discovered In these Tables. Bonds-PrinolRAILROADS. INTEREST OR DIVIDENDS. pal,When Due. Miles Date Size, or A.mount Rate per When Where Payable, and by Stocks-Last For explanation of column headings, &c., see notes of of Par Outstanding Dividend. on first page of tables. Road. Bonds Value. Cent. Payable Whom. - - - ·---- ----- - - - <Jin.Day. <I Ironton-1st M. g., guar. C.H. &D .. o* Cincinnati Hamilton cf Dayton-Stock .••••.. .....•. Preferred stock, Series A .......................... do Series B ................•......... Consolidated mort. ($996,000 are 7s) $ & £, s.f.o* 2d mortgage, gold ............................... c* Cin. Ham. & I. (Junction) RR., 1st mort., guar ... <Jinn. Jack. cf Mack.-lst,consol.,g. ($10,000p.m.)c* Cincinnati Van Wert & Mich. 1st mortga!.e ..... o* 2d mortfage, income, non-cnmulat., re . at 100. Cincinnati e anon & Nor.- lst M. (for $200,000). c <Jincinnati & Muskingum Valley-1st mortgaie ... c Cincinnati New Orleans & Texas Paciflc,-Stoc ..... Oin. Richmond cf Ft. W.- 1st mort., gold, int. &u.o* Oin. Saginaw & Mackinaw-1st M. for $2,000, 00 <Jin. S. cf 0lev. and 0-in. & sg,-see 0l. 0. Oh. &St. . Oleve. Akron ct Ool.-Gen. ., g. (for$1,800,000) .. ~ f Equip. Tr. & 2dM.,g.,red.beforematurity ..... . .. c* Cleveland & 0anton-lst mortgafe .................. Equip. Tr. & Improve. 2dM. god ($2,000,000) .. o* Wa:ra;esburgh & Canton 1st mortgage, roar ..... c Cleve and 0anton & South.-lst M. for$ ,000,000. 145 .... .... 1891 .... --·· ·60 i875 69 99 331 .... ·3g 148 336 86 50 178 178 161 161 .... .... 1887 1873 1886 1881 1881 1886 1870 i871 1890 $1,000 $3,500,000 100 4,000,000 100 1,000,000 100 553,600 1,000 2,816,000 1,000 2,000,000 1,000 1,800,000 1,000 2,095,000 100 &c. 1,171,000 363,000 1:000 190,000 1,000 1,500,000 100 3,000,000 1,000 1,800,000 $or£ 1,500,000 1887 500 &c. 1,000 1890 1887 1,000 1891 1,000 1888 1,000 1891 ...... easterly to Little Rock, .Ark., and westerly to Albuquerque, on .Atlantic & Pacific, with branr.h to Denison, Tex. Holds valuable coal leases, The mortgage is for $10,000,000, of which about $2,000,000 were pledged for loans. Stock outstanding, $3,750,000-par, $50. Car trust 6 per cents, $200,000. On .January 8, 1891, Edwin D. Chadick and Francis I. Gowen were .appointed receivers, and $500,000 receivers' certificates were issued, due December 31, 1891. The receivers' report in May showed total indebtedness $2,756,000; road constructed 108 miles; road operated 65 miles; April ~ross earnings $56,947; net, $24,480; coal shipments 800 tons daily. In May gross earnings were $67,252; net $29,207. Olnclnnatl Dayton & Ironton.-( See map 0incinnati Hamil· ton & Dayton.) Operates from Dayton to Ironton, Ohio, 165 miles, i!tandard gauge, of which 145 miles are owned, the other 20 miles being .onerated under tratfio contracts, 8 miles between Bakers and Byers belonging to the Baltimore & Ohio S. W. and 12 miles between Deans and Ironton to the Iron R. R. The Cincinnati Dayton & Ironton succeeded to a portion of the railroad of the Dayton Fort Wayne & Chicago, which was sold in foreclosure on January 20, 1891 !(see V. 52, p. 164). Leased in April, 1891, for 99 years (renewable forever) to the Cincinnati Hamilton & Dayton, which guarantees the •b onds, principal and interest, by endorsement. In addition to the :guaranty of the bonds the lessor is to receive one-half the net income remaining after the payment of operating expenses, taxes and interest. See V. 52, p. 534, 680. Stock is $5,000,000. See v. 52, p. 164, 534, 680. Olnclnnatl HaIDllton & Dayton.-(See Map.)-0wns from Cincinnati, 0., to Dayton, 0., 60 miles; leases Dayton & Michigan, Dayton to Toledo, 142 miles, and Cincinnati Dayton & Ironton, Dayton to Ironton, 165 miles. Controls Cincinnati Hamilton & Indianapolis, Hamilton to Indianapolis, 99 miles; Cinoinnati & Dayton, Hamilton to Middletown, 14 miles; Cincinnati Dayton & Cllioago, Dayton to Delphos, 95 miles ; Troy & Piqua, 8 miles; Columbus Findlay & Northern, Deshler to Findlay, 18 miles; Bowling Green R. R., Tontogany to North Baltimore, 21 miles. Total 622 miles. Owns jointly with Big Four the Dayton & Union-whioh see. In .April, 1891, the Cincinnati Dayton & Ironton R.R. (which see) was leased for 99 years, its $3,500,000 of 5 per cent bonds being guaranteed, principal and interest. In October, 1891, will lease the Cincinnati Jackson & Mackinaw (which see) and guarantee its new 4 per cent bonds. See V. 53, p. 94. Floatln~ debt .April, 1890, $774,213. Company owns $700,000 -Cincinnati Hamilton & Indianapolis bonds not included in amount -outstanding above. Dividends on common stock since 1882-In 1883, 9 per cent; in 1884, '6; in 1885, 6; in 1886, 7; in 1887, 6; in 1888 and 1889, nil; in 1890, .5 per cent; in 1891, 5 per ceut; in 1892, .January, 114. Dividends on preferred stock from .January 1, 1883, to July, 1886, at rate of 6 per cent; from .July, 1886, to date, at rate of 4 per cent yearly. Fiscal year ends March 31. Report for 1889-90 was in v. 51, p. 19. INCOME ACCOUNT. 1886-87. 1887-88. 1888·89. 1889-90. Receipts$ $ $ $ Gross earnings ...•..•....•• 3,066,967 3,447,574 3,478,975. 3,565,178 Net earnings ............... 1,119,749 1,410,300 1,387,588 1,400,915 Disl>urseme-nts- lnterest on bonds..... . .... <J. H. & D. dividends...... D. & M. dividends......... 507,443 325,259 132,024 576,959 120,000 171,401 551,131 46,405 171,401 528,630 160,874 175,339 Total disbursements... 964,726 868,360 768,937 864,843 Balance, surplus........... 155,023 541,940 618,651 536,072 -(V. 51, p. 19, 493, 681; V. 52, p. 534, p. 80, 939; V. 53, p. 125.) Olnclnnatl Indianapolis St. Louis & Chlcago.-See Cleveland Cincinnati Chicago & St. Louis. Cincinnati Jackson & .illacklnaw.-Owns from Carlisle, 0., ,north to Addison, Mich., 190 miles; Allegan to Dundee, Mich., 133 miles; branches, 3 miles; leases trackage Dundee to Toledo, 23 miles ; total operated, 349 miles. Stock is-Common, $10,413,835 ; preferred, $5,867,000. In November, 1889, Mr. Walston H. Brown was appointed receiver. The road was sold in foreclosure Oct. 6, 189 l, but the Middle Division was not secured by the Reorganization Committee, but it was offered a 17ain December 22 and purchased by the Committee. (V. 53, pp. ~~O, 753, 922.) It was proposed oy plan of reorganization that the road should be leased for 99 years to the Cin. Ham. & Dayton, which was to guarantee by endorsement principal and interest of $4,800,000 50-year 4 per cent gold bonds. Under the lease the C. H. & D. would retain $776,800 or the gross earnings, and of any excess above -this amount until such gross earnings reach $1,076,800, 20 per cent will go to the C. .J. & M , and 15 per cent of any further excess. It is -further agreed that $800,000 of the bonds shall be deposited with the -central Trust Company to provide for betterments, equipment, &c. V. -53, p. 94. Plan of reorganization as modified was in CHRONICLE, V. 53, p.125. · From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $310,939, against $312,436 in 1890; net, $84,789, against $82,065. For year ending .June 30, 1891, gross earnings were $724,972; net, 155,348. (V. 52, p. 40, 350, 939; V. 53, p. 94, 125, 435, 520, 753, 22; V. 54, p. 33, 119.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1,730,000 600,000 2,000,000 1,000,000 200,000 (1) 5 g. 114 1 1 5, 6, 7 412g, 7 5 g. 6 6 5 7 2 7 g. 5 g. M.&N. N. Y.,Kessler&Co54Wall Cincinnati. Q.-J. do Q.-J. do Q.-M. A. & 0. N.Y.,Kessler&Co54Wall do do J. & J. do do .J. & .J. .J. & D. Dec., 1889, last paid. J. & .J. Dec., 1889, last paid. J."·&-·J. .J. & .J. > .J...&. .J. & J. n. Cinn., FourtiiNat. Bank .Jan.,'86, coug last paid. Cincinnati, o.'s Office. N. Y. Winslow, L. & Co. New York and London. May 1, 1941 Jan., 1892 Jan. 1, 1892 Dec. 1, 1891 Oct. 1, 1905 Jan. 1, 1937 .Jan. 1, 1903 Dec. 1, 1936 .Jan. 1, 1901 Jan. 1, 1930 Jan., 1916 Jan. 1, 1901 Oct. 19, 1891 .June 1, 1921 Jan. 1, 1920 Mch. 1, 1927 5 g. M.& 8. N. Y., .J. .A.. Horsey. Aug. 1, 1930 do do 6 g. F. & A. 5 .J. & .J. N.Y.8.V.Wbite;Bos.I.Tr .July 1, 1917 .July 1, 1917 Boston. 5 g. .A. & 0. June 1, 1928 Boston. g . .J. & D. .Jan.~ 1941 . ..... g ·········· I Cincinnati & MuskinguID Valley.-Owns from Morrow, Ohio, to Trinway, O., 148 miles. Sold under foreclosure December 3, 1869, and reorganized as at present .January, 1870. Gross earnings in 1890, $437,607; net, $61,811; deficit under interest, betterments, &c., $74,376. In 1889, gross, $447,038; net, $40,794; deficit under fixed charges, $93,827. .A.mount due Pittsburg Cincinnati & St. Louis, former lessee, December 31, 1890, $1,081,013, and for coupons up to January, 1891, $526,050. Capital stock, $3,997,320. Pennsylvania. Railroad owns $754,000 of the bonds. Cincinnati New Orleans & Texas Paclfic,-(See Map.J-This company was organized under the laws of Ohio October 8, 1881, a:o.d operates under lease the Cincinnati Southern, extending from Cmcmnati to Chattanooga, Tenn., 336 miles. In April, 1890, the East Tennessee Virginia & Georgia obtained voting power on $1,000,000 stock, through purchase of a controlling interest in the .Alabama Great Southern, and company became a part of the East Tennessee system. See CHRONICLE, Vol. 50, p. 560; v. 51, p. 569. The rental due the City of Cincinnati is $912,000 till Oct. 12, 1891; $1,012,000 till Oct. 12, 1896; $1,102,000 till Oct. 12, 1901, and $1,262,000 till 1906. As to proposed extension and modification of the lease, see V. 52, p. 939 v. 53, p. 602, 968. Dividends since 1881: In 1882, 112 per cent; in 1883, 3; in 1889, 3; in 1890, 6 per cent; in 1891, 4 per cent. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $1,923,181, against$1,946,001 in1890; net,$597,977, against $6371.235. Fiscal year ends .June 30. Report for 1890·91 was in V. 53, p. o0l, 1887·88. 1888·89. 1889-90. 1890-91. $ $ $ $ Gross earnings ....... 3,525,775 Net earnings ......... 1,163,402 3,655,859 1,145,256 4,309,144 1,580,963 4,379,143 1,354,640 For rental............ 912,000 Dividends............ Sinking fund, etc..... 69,199 912,000 90,000 77,359 912,000 180,000 90,912 912,000 60,000 100,750 Deduct- Net surplus....... 182,203 65,897 398,051 281,890 -(V. 51, p. 275,414,422,569,645; V. 52, p. 321,939; V. 53, p. 289, 601, 968.) Oinclnnatl PortsJDouth & Vlrglnla.-Owns from Idlewild, 0., to Sciotoville, 107 miles; trackage (Cin. Lebanon & Northern), to Cincinnati, 4 miles; total operated, 111 miles. The Ohio & Northwestern was sold in foreclosure March 13, 1890, and reorganized a.s the Cincinnati Portsmouth & Virginia with $1,566,000 common stock to retire first mortgage bonds at par and interest and $594 000 preferred stock for prior liens, receivers' certificates, &c. In 1890-91 gross earnings, $234,192; net over expenses and taxes, $20,1_20. From January 1 to Oct. 31, 1891 (10 months), gross earmngs were $205,071, against $189,100 in 1890; net, $23,912, against $13,473. (V. 53, p. 48.) President, Samuel Hunt. (V. 52, p. 899.) Cincinnati KlchIDond & Fort Wayne.-Owns from Rioh• mond, Ind., to .A.dams, Ind., 86 miles; leases 5 miles of Pittsburg Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 yea.rs to Grand Rapids & Indiana, the rental being net earnings. Interest is guaranteed by the lessees and by the Pennsylvania Company and Chicago St. Louis & Pittsburg Company jointly. Gross earnings ill 18901 $471,296; net, $165,853; profit to guarantors, $3,854, against loss or $8,983 in 1889. Stocir, $1,709,313; par $50. Total advances by guar• antors to December 31, 1890, $1,131,995. Cincinnati Saginaw & Macklnaw.-Owns Durand to Oa-ta-ka Beach, 56 miles. Successor in 1890 to the Toledo Saginaw & Maokinaw. In September, 1890, leased for 99 years to the Grand Trunk ot Canada. Of the $2,000,000 bonds $500,000 were reserved for new term.inals extensions, &c. Bonds are either $1,000 or £205 10s. Interest is unpaid pending purchase of bonds by Grand Trunk. (V. 51, p. 6i5.) Cincinnati Sandusky & Oleveland.-Owns from Sandusky, 0., to Dar.ton, 0., 154 miles; branch, Carey to Findlay, 16 mttes; total, 170 miles. October 31, 1890, leased till 1969 to the Cleveland Cinolnnat( Chicago & St. Louis, which purchased the common stock, and agreed to pay interest on the bonds and dividends on preferred stock. Bee T. 51, p. 457. The preferred stook has a lien by deposit of old bonds in trust. Cash divid_ends since.1876: On :preferred,~ per cent ye~rly to date; on common, m 1882, 2; m 1884, 2; m 1888, 5; m 1889, 312; m 1890, 512; in 1891, 3 in Nov . . In year endin 17 June 30, 1889, gross earnings were $814,879; net, $290,734; rentaf received, $94,606; total net, $385,340. (V. 50, p. 632, 801· · v. 51, p. 142, 416,457,608; v. 52, p. 80, 428.) Cincinnati & Sprln.gfi.eld.-Operates from Cincinnati, 0., to Springfield, 0., 80 miles, of which 32 miles are leased from other companies. The whole is leased and operated by Cleveland Cincinnati Chicago & St. Louis Company, giving them a line into Cincinnati a.nd depot accommodation. Lessees apply any excess over operating expenses and interest to Cincinnati & Springfield stock. Interest is guaranteed on the first mortgage, one-half by the lessees and one-haff by Lake Shore & Michigan Southern. Stock is $1,100,000 (par $50), voting power on $616,450 being held by trustee for Cleveland Cincinnati Chicago & St. Louis. To January, 1890, the Cleveland Cincinnati Chicago &.St. Louis had advanced $2,951,814. In year ending .June 30, 1890, gross earnings, $1,196,410; net, $332,618; deficit under interest, &c., $45,137. INVESTORS' SUPPLEMENT. [VOL, LIV. ---=========================================================================================:;- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M.A.POFTHE CLEVELAND &, CANTON RAILROAD & CONNECTIONS. :RAILROAD STOCKS AND BONDS. 1892.] J.A.NUABY, 43 Subscribers "Will conCer a great Cavor by giving Immediate notice of any error discovered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. I . . INTEREST OR DIVIDENDS. IBonds-PrinctMiles Date Size, or Amount - - - - - - - - - - - - - - - - - pal,When Due. of of Par Outstanding Rate per When Where Payable, and by Stocks-Last / Road. Bonds Value. Cent. Payable Whom. Dividend. J cf: St.L.-Com. st'k($28,700,000 au.) Preferred stock, 5 per cent, non-cumulative ....... Cin. & Indiana 1st mort. (Cin. to Ind. State line)c Oleve. Oinn. Oh. Laf: mortg~ie:::::::::::: ~ u:Ja~~t''W!~incin.· & C. I. St. . & C. con. M.,drawnatlO , s.f.1 p. c . c" General lstM.. g.,s.f. 1 p.c., not dr'n ......... c&r Bel. & Ind. 1st mortgage (part due yearly) ...... . . Clev. Col. Cin. & Ind. 1st M., sinkint fund ........ Con. mort. (1. f. 1 p. c.), dr'nat 10 ifunst'mp'd Gen. con. mortgage, g.(for $12,000,000) .. . c* & r Indian & St. L. 1st mort., in 3 ser. of $667,000 .c. Mort. for $2,000,000, gold, Indianap.toTerre H. Cl.Cin.Chic.& St.L. 1st M.(Cairo Vin. & Chic.) g.c* White Water branch, 1st M., gold ............. c* Spring. & Col. Div. (Col. Sp. & Cin.), 1st M., !i·c* St. Louis Div. (St.L.Alt. & T. H.) coll. tr.,g.,c &r Cin.Wab.&Mich. Div., lstM. for$4,000,000g.c* OBLIGATIONS FOR PROPRIETARY LINES. Cincinnati Lafayette & Chioafio,lst mort., gold.c Cincinnati Sandusky & Cleve and-Pref. stock . .. 8. Day. & C.(Mad.R.&L.E.) lstM.,s.f.,dr. at 100.c Consolidated 1st mortgage ($3,000,000) gold .. c Cincinnati & Springfield-1st mort., int. guar.... c 2d mortgage .......... . ......... . ......... . ...... c Olevet. Lor. cf: Wheel.-CI. Tusc. Val. & W., 1st mort Oleveland cf: Mahoning Val.-lst mort., extend ... c* 3d mortgage (now 2d) . . .......................... c* Consol. mort. for $3,000,000 (reg. int. Q.-J.) .c&r ..... .... ·2i isi32 21 154 175 400 119 391 391 391 72 72 267 69 45 194 203 56 i70 170 48 48 158 125 125 125 1867 1867 1880 1886 1864 1869 1874 1884 1869 1882 1890 1890 1890 1890 1891 $100 $28,000,000 112 .J. & J. Drexel, Morgan & Co . Jan.11, 1892" 100 10,000,000 Q.-J. 114 do do Jan. 2, 1892 1,000 294,000 7 J. & D. Dec. 1, 1892 do do 1,000 689,000 7 J. & J. Jan. 1, 1892 do do 1,000 379,000 7 F. & A. Feb. 1, 1897 do do 1,000 752,000 6 M.& N. May 1, 1920 do do l,OOO&o 6,755,000 4 g. Q.-F. Aug. 1, 1936 do do 1,000 172,000 7 J. & J. 1892 to 1899 do do 1,000 3,000,000 M.&N. May 1, 1899 7 do do 1,000 4,065,000 7 or 6 g. J. & D. June- 1, 1914 do do 1,000 3,205,000 6 g. J. & J. Jan. 1, 193~ do do 1,000 2,000,000 Various July 1, 1919' 7 do do 1,000 500,000 6 g. M.&N. Nov. 1, 1912" do do 1,000 5,000,000 4 g. J. & J. Jan. 1, 1939 do do 1,000 650,000 4 g. J. & J. July 1, 1940 do do 500 &c. 1,103,730 Sept. 1, 1940 4 g. M.& 8. do do 1,000&o 10,000,000 Nov. 1, 1990 4 g. M.&N. do do 1,000 July 1, 1991 4,000,000 4 g. J. & J. do do 1,000 50 . .... 1,000 1866 1,000 1888 1,000 1871 1,000 1872 1,000 1878 500 &c. 1873 1876 500 &c. 1888 1,000&0 1871 Cincinnati Wabash & llilclllgan Kallway. -Owns from Benton Harbor, Mich., to Rushville, Ind., 205 miles, and operates V. G. Bold Nov. 5, 1879, and reorganized April, 1880. In 1890 company's entire stock was bought by the Cleveland Cincinnati Chicago & St. Louis, which has issued $4,000,000 of 4 per cent bonds secured by a mortgage upon the property. From Jan. 1 to Nov. 30, 1891 (11 months), gross earnings were $682,184, against $552,322 in 1890; net, $232,621 in 1891. Gross earning-a in 1890 on 165 Iniles, $603,170; net, $202,514.-(V. 50, p. 482; V. 52, p. 164, 570, 718.) · Cleveland Akron & Columbus Kallway.-Owns from Hudson, 0., to Columbus, 0., 144 miles; Dresden branch, Kilbuck to Trimway, 33 Iniles and trackage, Cinn. & Muskingum Valley Ry., Trimway to Zanesville, 17 miles-50 miles; total, 194 miles. Sold in foreclosure in 1882, and reorganized under this title in January, 1886. The new equipment trust bonds (authorized to a total of $890,000, or $5,000 per mile) are a second mortgage. They are redeemable at 100 and interest on August 1, 1900, and at 105 and interest on any August 1 thereafter prior to 1930. See full statement to N. Y. Stock Exchange dated Feb. 9, 1891, in V. 52, p. 464. Stock, $4,000,000; par, $100. Dividends: 1886 and 1887, each 112 per cent; for 1888 and 1889, each 1 per cent; in 1890 1 per cent; in 18911 per cent in Nov. From .Tuly 1, 1891, to Nov. 30, 1891 (5 months), gross earnin.,.s were $419,970, agains t $379,045 in 1890; net, $119,141, against $10i,983. In year endin.o- June 30, 1891, gross earnings (including Dresden branch) were $902,536; net, $220,148; interest, $110,635; rentals, t\c., $50,851; s urplus, $58,661. In 1889-90 gross $797,889; net, $213,343; surplus over interest, taxes , &c., $54,682.-(V. 51, p. 303, 679; V. 52, p. 351, 462,464; V. 53, p. 673.) Cleveland & Canton.-( See Map.)-Owns Cleveland to Coshocton, 0., 115 miles; Canton to Sherrodsville, 43 Iniles; branch, 3 miles. Leases Waynesbl'l.rg & Canton RR., 6 miles; Cleveland Cha!?rin Falls g;; Northern RR., 8 miles. Operates under verbal a greement <Soshocton & Southern, Coshocton to Zanesville, 30 miles; total, 205 miles. The Connotton Valley RR. was sold in foreclosure May 9, 1885, and this company organized. Capital stock is $3,099,599 common and $7,893,758 preferred; par, $100. In 1891 were authorized $2,000,000 2d mortgage equipment bonds , of which $1,000,000 have been issued for the retirement of certain outstanding equipment liens, for the purchase of new rolling stock, etc. They are a first lien on new equipment and a second lien on the road. (See V. 52, p. 350, 939.) The Waynes. & Canton is leased for 40 years from June 1, 1888, and its bonds guaranteed, principal and interest. The Chagrin Falls Road is leased for 33½ per cent of gross earnings. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $348,681, against $280,529 in 1890; net, $122,979, agst $105,932. Annual charge for interest, taxes and rentals will hereafter be about $200,00(). Gross earning!!! for year ending June 30, 1891, $660,667, against $499,504 in 1889-90; net $227,88e, against $162,697; surplus above charges $32,460, against $5,047.-(V. 51, p. 644; V. 52, p. 350, 939; v. 53, p. 256, 836.) Cleveland Cincinnati Chicago & St. Louis.-( See Map.)Owns :-Cleveland, 0., to Columbus, 0., 138 miles; Galion, 0., to Indianapolis, 203 miles; Delaware to Springfield, 50 miles (these three lines, 391 Iniles, compose old C. C. C. & I.); Cincinnati to Lafayette (part of old Cincinnati Indianapolis St. Louis & Chicago), 175 miles, and branch, 3 Iniles; Indianapolis to Terre Haute (old Indianapolis & St. Louis, 72 miles); East St. Louis to Terre Haute, Ind., and branch (formerly belonging to St. Louis Alton & Terre Haute) 193 Iniles; Harrison, Ind., to Hagerstown, Ind., 65 miles; total owned, 899 miles. Leases-Cincinnati Lafayette & Chicago (the entire stock owned) Templeton, Ind., to Kankakee, Ill., 75 miles; Fairland Franklin & Martinsville Railroad (entire stock owned-no debt), Fairland, Ind., to Martinsville, 38 miles; Columbus Hope . & Greensburg Railroad (all bonds and 61 per cen1i stock owned), Columbus to Greensburg, Ind., 24 Iniles; other lines, entire stock owned-no debt, 12 Iniles; Cincinnati & Springfield (leased for 99 years-55 per cent stock owned), Dayton, O., to Cincinnati, 56 Iniles; Cairo Vincennes & Chicago, entire stock owned; Cairo to Tilton and branc!.., 267 miles; Cincinnati Sandusky & Cleveland, Sandusky, 0., to Dayton, O..,_ 154 Iniles, and branch, 16 Iniles; Columbus Springfield & Cincinnati, volumbus, 0., to Springfield, 44 Iniles. Total mileage on which earnings were reported Dec.1, 1891, 1,558 miles. Also operates, keepin~ earnings separately, Cincinnati Wabash & Michiiran Railway (entire stock owned), Benton Harbor, Mich., to Rushville, Ind., 206 miles; Vernon Greensburg & Rushville Railroad (all bonds and 70 per cent stock owned), North Vernon, Ind., to Rushville, 45 miles; Peoria & Eastern, Pekin, lli., to Indianapolis, Ind., 202 Iniles; Springfield Division, Indianapolis to Springfield, 142 miles ; Kankakee & Seneca Railroad (one-half stock and bonds owned), Kankakee to Seneca, Ill., 42 Iniles. Also ownsjointly Dayton & Union RR. (operated separately\. 47 Iniles; trackage, Illinois Central into Chicago, 56 miles; other trackage, 12 miles; total system, including trackage and one half of mileage half owned, 2,314 miles. ORGANIZATION·, ETc.-The Clevelana Cincinna-tl Chicago & St. Louis Railway Company is a consolidation of the Cincinnati Indianapolis St. Louis & Chicago Railway Company, the Cleveland Columbus Cincinnati & Indianapolis Railway Company and the Indianapoli " & St. Louis Railway Company, made in July, 1889. It is one of the so-called Vanderbilt roads. The St. Louis Alton & Terre Haute main line and branch was puroh~ed in 1890 for $10,000,000 of 4 per cent bonds. & R. RR. Rushville to North Vernon, Ind., 45 miles. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 794,000 428,850 91,000 2,483,000 2,000,000 125,000 700,000 654,000 487,900 1,500,000 7 3 6 5 7 7 7 7 7 5 g. M.& B. M.&N. F. & A. g. J. & J. A. & 0. J. & J. A. & 0. g. F. & A. M. & 8. g. J. & J. do do New York and London. Boston, Nat. Revere Bk. N. Y., Drexel, M. & Co. do do do do N. Y., Union Trust Co. N.Y.,Winslow,Lan.&Co. do do do do Sept. 1, 1901 Nov. 2, 1891 Feb. 1, 1900 Jan. 1, 1928 Apr. 1, 1901 Jan. 1, 1902 Oct. 1, 1898Aug. 1, 1893 Sept. 15, 1896 Jan. 1, 1938 The Cairo Vincenne11 & Chicago is operated under contract dated October 30, 1889, and the Peoria & Eastern (part of old Ohio Indiana & Western) is operated under a fifty-year lease. The Springfield Division of the Ohio Indiana & Western is owned subject to a purchase money lien of $5,000,000, which is not a promise to pay, and which (though redeemable at will) is not collectible before April, 1940 In May, 1891, it was voted to issue $4,000,000 of 4 per cent bonds secured by a mortgage made jointly with the Cincinnati Wabash & Michigan; also to make an operating contract with that company. (BeeV. 52, p. 718.) In October, 1890, it was voted to lease the Columbus Springfield & Cincinnati, and to issue $500,000 stock with which to acquire its $1,000,000 stock; also to issue $1,250,000 of 4 per cent 50-year first mortga ge bonds secured on that road to take up the outstanding 7s andl the scrip; also to lease the Cincinnati Sandusky & Cleveland, and toissue $3,212,680 stock to take up the Sandusky's $4,015,750 of common stock. See V. 51, p. 457,608. There are $88,000 Col. Spring. & Cin 'ls. still outstanding, for which $112,500 new 4s were reserved. STOCK AND BONDS.-The consent of a majority interest of the preferrelf stockholders is required before any new bonds can be issued or any lease executed. According to Ohio statutes company should have privilege of retiring preferred stock at par after June 27, 1892. Dividends on preferred stock 114per cent quarterly to date. Dividends on CQmmon, in 1890, 4 per cent (1 - per cent being extra in July), in 1891, 3 p. c.; in 1892, Jan., 112 p. c. Price of common stock-In 1889 5812 to 7818; in 1890, 55~8014; in 1891, 5634'@7412; in 1892 to Jan. 22 inclusive, 7014'@75. Price of preferred stock-In 1889, 96 to 10312; in 1890, 86@101; in 1891, 90'@9812; in 1892 to Jan. 22 inclusive, 951v98. The Cincinnati Indianapolis St. Louis & Chicago 4 per cent mo1.,15agefor $10,000,000 (Central Trust Co. and Hervey Bates, trustees) will retire all prior bonds as they fall due. The sinking fund for these bonds is 1 per cent yearly of the amotmt of outstanding bonds; payments lapse when bonds cannot be purchased at 10212 and interest . " T h e I' trmg fund :provision of the Cleveland Columbus Cincinnati & Inillanapolis consolidated bonds may be canceled at option of holders~ and the bonds so stamped. Of the Indianapolis & St. Louis first mortgage bonds series "A" are J. & J.; series "B," M. & 8.; series "C," M. & N.; and the $500,000 6 per cents are owned by the Pennsylvania RR. Co. The bonds of 1889 on the Cairo Vincennes & Chicago are oonds of the Cleveland Cincinnati Chicago & St. Louis Co., but are secured by a mortgage made by the Cairo Vincennes & Chicago Company. Of the $10,000,000 St. Louis Division bonds of 1890 issued to the St. Louis Alton & Terre Haute in payment for its main line, bonds for $7,000,000 are reserved to retire all existing liens on th e road, and $250 000 bonds are held in a sinking fund for the issue, bonds to be purchased at or under 105 with the income therefrom-no bonds drawn. For full abstract of deed of trust see V. 52, p. 42-45. OPERATIONS .AND EARNINGS.-From July 1, 1891, to Nov. ::!O, 1891 (5 months), gross earnings were $6,036,469, against $5,703,320 in 1890; net, $1,868,431, against $1,764,766; interest, r entals, etc.~ $1,070,033, against $1,075,442; surplus, $798,398, against $689,324. On the Peoria & Eastern Division from July 1 to Nov. 30, 1891 (5months), gross earnings were $814,566, against $643,125 in 1890; net~ · $233,011, against $120,706. Fiscal year ends June 30. Report for 1890-91 was in V. 53, p. 519~ 531, showing results as in the table below : EARNINGS AND EXPENSES. 1889-90. 1890-91.J Miles operated ............................... . 1,569 1,561 *Earnings from- $ Passengers .......... .. ......... . ............. . 3,422,872 Freight ... . ...........•............ . ........... 8,318,865 Mail, express, &c ................. . ........... . 897,408 3,64tJo1 8,337,130 901,981 Total. .............................• . ....... 12,639,145 Operating expenses and taxes ................ 8,739,182 12,888,6169,187,211 Net earnings ....•. . ..............•.......• 3,899,963 Rentals, interest, etc......................... 323,162 3,701,405328,761 Total net income....... . .................. 4,223,125 4,030,166 Interest on bonds ...........•.........•....... 1,788,257 Rentals.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • . 936,585 Interest and exchange.............. . ....... . . 14,940 2,123,303 476,188 10,792 Total............ . .......................... 2,739,782 Sur:plus for dividends ... . .. ... .......... . . . . .. 1,483,343 Dividends . . . ... . ... . . . ................. . .. i .... 1,320,000 2,610,283 1,419,883 1,318,322 Deduct- Surplus........ . ......................... . . 163,343 J.01,561 * The earnings and operating expenses here given do not include Peoria & Eastern or Cincinnati Wabash & Michigan.) -(V. 51 , p. 51, 171, 172, 206, 3 03, 383, 416, 457, 5 3 5, 608,753, ~~ 787; v. 52, p. 428,498,499, 534, 718. 761; v. 53, p. 288 ; 500, 5 19· 11 531 ,922. , . ,, t § U) ~ 0 ~ ua 00 ~~ I ~ MAP OF THE .: ..i Ii; https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 .;;£ CLEVELAND, CINCINNATI, CHICAGO & ST. LOUIS RY. ,..... 1 t"1 1-4 <I JANUARY, RAILROAD STOCKS AND BONDS. 1892.J S ubscribers "Will c onCer a great Ca v o r b y g iving Imme diate n o tice o f' any error discovered In these Ta.hies. RAILROADS. . INTEREST OR DIVIDENDS. Bonds-PrincJI.Miles Date Size, or Amount pal,WhenDue-_ For explanation of column headings, &c., see notes of of Par Outstauding Rate per When Where Payaole, and by Stock~-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. - - - ____ ,______ ,____ ----11----------1------- Oleveland <I: Ma1'ietta-lst mortgage, gold ....... c&r Oleve. <I: Pittsb.-Stock, 7 p. c. '5ar. by Penn. Co .... ! Consol. sink.fund mort. for 5,000,000,notdr'n.c Constr'n and equip'tinc. bds.,Ser."A" s.f.,dr'n.c do do do Ser."B" at 100.c Gen. morti gold ~guar. Pa. RR.) series A, 199 ... Oolorado Mi Land-See At. Top. & Santa Fe system. Oolumbia ct Greenville-- I st mortgage, gold ....... c* :i~~;~;ii..:.:istl\i;g:,ror$i·2,ooo ii.~ a!l!::ttl;Jr~te,;. ·& Oolumbus <I: Ginn. Mid.-lstM.,ext. at 412p.c.guar. Debentures, ~aranteed ........................... Oolumbus Hocking Val. <I: Toledo-Pref. 5 p.ct. stock. Col. & H. V. 1st mort'ba~e- ...................... c" Col. & Toledo 1st M. ( o umbus to Walbridge) .. c,. 2d mortgage (Columbus to Walbri~e) ........... Ohio & West Va. lstmort. (Lofan to omeroy) .. c* Consol. mort~age, gold (for $ 4,500,000) ....... c* Gen. mort. ,go d,on road & Hockin Coal& RR. Co. c Oolum. Shaw. cf: Hock.-Stock ($2,0 0,000 is pref.). 1st mortf~e for $5,000,000, gold .............. c* Equipm' ., g., sub. to call after '96, ($1,000,000) Zanesville Term'l Co. 1st m. for $500,000, gold. o* Columbus Southern.-lst mtge., gold, $12,500 p.m. Ootumbus <I; Xenia-Stock, 825 per cent rental. ..... Ooncord <I: Claremont (N. H.)-lRt mort§aie ...... o Oonc01·d cl Montreai--Stock, Class I. (B. . M. pf.) Stock, Classes II. and III. (B. C. & M. new and old) Stock, Class IV. (Concord) ......................... Bost. Con. & Mon. cons. mort. ($582,400 are 6s).c Improvement mortga:fc:6" ....................... c Consolidated mortgage or $5,500,000 .......... c* 8 97 1887 ---· i867 ··-· 1873 1873 199 ~ i99 1891 164 164 63 71 .... 1881 1881 1887 1884 1890 121 118 118 85 325 325 1867 500 &c. 1875 1,000 1880 · 1,000 1880 1,000 1,000 1881 1884 1,000 ---· ---· 110 110 4 88 55 71 ..... ..... i66 166 262 ---· -··· 1890 1891 1890 .... 1,000 1,000 1,000 1,000 ·ioo 1:000 1,000 1,000 00 50 500 &o. ..... 100 100 ....... 100 ...... 1873 200 &c. 1881 1,000 1,000 1890 is14 0leveland Lorain & Wheeling.-0wns from Lorain, 0., to West Wheeling, 0., 158 miles, and branch to Bellaire, 0., 6 miles. The Cleveland Tuscarawas Valley & Wheeling was sold in February, 1883, and reorganized as Cleveland Lorain &Wheeling. Commonstockis$1,000,000, and preferred $4,600,000, par $100. Lake Shore & Michigan Southern owns $169,100 common and $774,400 preferred. There are also $150,000 Cleveland Lorain & Wheeling first mortgage 6 per cent bonds (interest J. & J.J, due July, 1895, and $226,000 car trusts, due in 1891, etc. In 1890 g-i:oss earnings were $1,209,655; net, $322,861; surplus over interest, $264,862. In 1889 gross earnings were $1,124,. 346; net, $321,017; surplus over interest, $263,017. Dividends on preferred stoc.1r in 1887, 3 per cent; in 1888, 2 per cent; in 1889, 2 per cent. (V. 50, p. '734; V. 52, p. 830.} Cleveland & Mahoning Valley. -0wns from Cleveland, 0., to Sharon, Pa., 81 miles; Niles, 0., to New Lisbon, 0., and branches, 44 miles ; total operated, 125 miles. Leased to the Now York Penn. & Ohio till 1982; the rental is $502,180 per year. The bonds of 1888 (trustee of mortgage Central Trust Company) were for betterments, and $1,141,000 reserved to retire ptior bonds m 1893 and 1895. Stock is $2,759,200 (par $50), and dividends of about 1119 per cent per annum are paid quarterly. Clevel and & 1'.Iarletta.- 0wns from Marietta, 0., to Canal Dover, and branch, 97 miles, and 8 miles, Valley Junct10n to Canal Dover, leased. The road was foreclosed for the second time in May, 1886, and reorganized. Stock, $$2,000,000-par $100; car trusts, June 30, 1_890, $125,396. From July 1 to Nov. 30, 1891 (5 months), gross earrnngs were $147,086, against$162,152 m 1890; net, $39,261, against $39,115. In 1890-91 gross $362,594, net $90,405. In 1889-90 gross $280,540; net $59,209. A. T. Wikoff, President, Cambrid~e, O. Cl eveland & Plttsburg.-(See Map Pennsyivania Railroad.) Cleveland, 0., to Rochester, Pa., 124 miles; branches-Bayard, O., to new Philadelphi~1 31 miles; Yellow Creek to Bellaire, 43 miles; leases, Rochester to Phmburg (Pittsburg Fort Wayne & Chicago), 26 miles; total operated, 224 miles. The property was leased for 999 years from December 1, 1871, to Pennsylvania Railroad Company, and lease transferred to Pennsylvania ompany May 1, 1872. Rental, 7 per cent on existing capital (10 per cent on the old) and $10,000 per year for company expenses, the lessees assuming all liabilities. In 1891 the general mortg-age for $10,000.000 was authorized, the bonds being guaranteed prinmpal and interest (endorsed) by the Pennsylvania Rail,road. The series "A," aboTe were issued to retire $1,104,844 7 per cent 4th mortgage bonds due January 1, 1892, and the construction and equipment 7s. See V. 53, p. 63t 754. For the year 1890 ae gross receipts were $3,593,673, and the deficit to lessee was $2,517, against a deficit of $229,740 in 1889. (V. 50, p. 70; v. 52, p. 80; v. 53, p. 639, 754.) Colorado 1'.Ildland.-See ATCHISON TOPEKA.. & SANTA FE SYSTEM, Colulllbla & Greenville ( S. c . )-( See Map of Richmond ct West Point Te1-minal.J-The company owns from Columbia to Greenville, S. C., 143 miles; branches to Abbeville and Anderson, 21 miles; total, 164 miles. Also owns Laurens Railroad, 31 miles, and leases Blue Ridg~ Railroad, 32 miles, and Sp~rtanburg Union ~ Columbia Railroad, 69 rmles. Total operated, 296 miles. The Greenville & Columbia road was sold in foreclosure April 15, 1880, and reorganization was made under this name. Preferred stock, $1,000,000; common stock, $1,0001000; par of shares, $100. Due Rich, & Danv. June 30, 1891, $492,604. All the common stock is pledged by the Richmond & We8t Point Terminal Company, under its collateral trust of 1887, and in May, 1886, the road was leased to the Richmond & Danville Railroad Company. From July 1 to Sept. 30, 1891 (3 months), gross ear ninO's were $172,549, against $198,463 in 1890; net, $30,047, a~ainst $4l,996. In year enili.ng June 3 0, 1891, r oss earnings, $875,484; net, $249,538; detlmt under charges $29,41 . In 1889-90 gross, $842,231; net, $278,110 ; interest and r entals, $276,059; surplus, $2,0 51. (V. 53, p . 844.) Columbia N e -whe rry & Laure ns •.:..owns from Columbia, 8 . <J., to Dover J unction1 near Clinton, S. C., 63 miles. Leased from Ang. 1, 1890, to the receiver of the South Carolina Railway. Rental, $3,993 monthly. Stock authorized, $2,000,000; outstanding, $500,000; par $25. Columbus & Cincinnati 1'.Ildla nd.-0wns Columbus, O., to Midland City, 0., 71 miles. Opened in November, 1884. Affords the Baltimore & Ohio a direct route between Pittsburg and Cincinnati. Stock, common, $2,000,000; preferred (non-voting), $1,000,000. In Jannar_y, 1890, le3:sed for 999 years to Central O~o, by which assigned to Baltimore & Ohio. See V. 51, p. 718. The Baltimore & Ohio assumes the Central Ohio's guarantee of principal and interest of the bonds and owns all the common stock. It also assumes the Central Ohio's guarantee of 3 per cent per annum, payable semi-annually, commencing with Jan. 1, 1895, on the preferred stock, "unless said stock be redeemed at not less than its par value" at any time -after Januar[ 1, 1893. Gross earnings m 1890, $350,164; net, $101,812; interes , $100,800; surplus, $1,012.-(V. 49, p. 579,616,653,690; V. 51, p. 718.) Colulllbus Hocking Valley & Toledo.- (See Map.)-Owns main line from Pomeroy, 0., to Walbridge, 0., 250 miles, with trackage (Northwest Ohio) Walbridge to Toledo, 6 miles; branches-Logan to Athens, 26 miles; Logan to New Straitsville, 13 miles; Monday Creek Junction to Nelsonville, 17 miles; others, 15 miles; total, 327 miles. This was a consolidation in July, 1881 of the Columbus & Hooking https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $600,000 11,247,036 1,725,000 894,000 3,000,000 $1,000 50 1,000 1,000 1,000 1,000 6 g. F. & A. N. Y., John Paton & Co. Q.-M. N. Y., Farm. L. & T. Co. M.&N. do do do do J. & J. J. & J. do do J. & J. do do Aug. Dec. Nov. Jan. Jan. Jan. i Jan. 1, 1916 Apr. 1, 192~ lll:1 { 7 7 7 412 g. 2,000,000 g. 1,000,000 516,000 6 g. 2,000,000 412 240,000 419 2,500,000 ··1· 1,401,000 2,500,000 7 600,000 7 1,584,000 7 5 g. 8,000,000 6 g. 1,618,000 4,000,000 ..5.g. 3,430,000 300,000 6 g. 450,000 5 g. 5 g. 1,000,000 1,786,200 See rem. 500,000 7 800,000 3 2 1,000,000 3,000,000 3 1,938,300 6&7 500,000 6 1,710,000 4 J. A. J. J. J. & J. N. Y., 4th Nat. Bank. do do & O. 1, 1, 1, 1, 1, 1, 1937 1891 1900,. 1913'" 1934 1942' & J. N. Y.; Balt.; Columbia. Jan., 1937 & J. N.Y.,Farmers'L.&T.Co. Jan. 1, 1939'• & J . Balt., B. & 0. RR. Co. Jan. 1, 1895, A:·&--◊. N. Y., Atlantic Trust Co. F. & A. do do M.& 8. do do M.&N. do do do M.& 8. do do do J. &D. J. . .&..:J • N. Y., Hatch·&·Foote . do A. & 0. do J. & J. See Hatch & Foote. 4:..:.:M. Columbus,"ci.:Treasurer J. & J. Bost., Treasurer's office. M.&N. Concord, Co.'s office. On cl. II office . M.&N. Concord," A. & 0. B'ston, Faneuil Hall B'k do do J. & J. J. & D. Boston SafeD. & Tr.Co. Co~•s· Oct.··1,..i897" Aug., 1905 Sept., 1900 May 1, 1910• Sept. 1, 1931 June 1 , 1904- 1; Jan~· "i940April 1, 1916'.July 1, 1940- -------- Dec.IO, 1891 Jan. 1, 1894Nov. 1, 1891 Dec., 1891 Nov. 1, 1891 Apr. 1, 1893": Jan. 1, 1911 June 1, 1920> Valley, Columbus & Toledo and Ohio & West Virginia. The company'sguaranty of interest on the Toledo & Ohio Central 1st mortga~e was. claimed to be void in September, 1891, by public notice to the ·1.·. & O~ O. See V. 53, p. 436. Suit is in progress to recover the proceeds of saleof$6,200,000 consoll-~ dated 5s, claimed to have been wrongfully diverted from the treasury. Of the consolidated mortgage $6;1500,000 was reserved to meet th prior liens; the " Hocking Coal & Railroad" joined in making the bonds. The Central Trust Company of New York is trustee. The gen-eral mortgage of 1884 covers the road, and is also a mortgage on th& coal property of the "Hocking Coal & Railroad Company," whose stock· is owned by the Columbus Hockin$ Valley & Toledo. Company owns equipment costing over $4,000,000; oar trusts out,. $568,536, due 1892 to 1897-interest 6 and 7 per cent. On November 12, 1891, stockholders voted to issue $2,500 000 preferred 5 per cent stock, non-cumulative, to old stockholders, at 50, proceeds to pay $777,000 bonds due January 1, 1892, and some otherobligations leaving $500,000 of the stock in the treasury. This would;. makes all fixed charges for 1892 about $1,023,000. (V. 53, p. 712, 754. ► Dividends since 1881 : In 1883, 212 per cent; in 1885, 133s in stock;. none since. Stock, $11,696,300; par $100. Price of stock-In 1885, 18'al43; in 1886, 26 7 s'al4519; in 1887, 15@39¾; in 1888, l 7'al36¾; in 1889, ll 'a>2814; in 1890, 1812'@32~; in, 1891, 22@34¾; in 1892, to Jan. 22 inclusive, 2912'al3214. From January 1 to Oct. 31, 1891 (10 months), gross earnings were$2,713,239, against $2,515,804; net $1,284,374, against $1,139,104. Report for 1890 was in CHRONICLE V. 52, p. 120, showing the following. INCOME ACCOUNT. 1887. 1888. 1889. 1890 Receipts$ $ $ $ Gross earnings ...........•• 2,595,583 2,875,515 2,496,319 3,056,752.: Net earmngs............... 993,684 1,221,853 1,007,692 1,308,20()1 28,335 32,14'7 Miscellaneous...... . . . . . . . . 44,485 28,579 Total receipts .......... 1,038,169 1,250,432 1,036,027 1,340,34'7 Disbursements- Int. on bonds & car trust.. Interest on floating debt.. rnt. to Pa. RR. on lease... Miscellaneous.... . . . . . . . . . . 979,557 18,629 24,048 . ...... . 984,020 23,758 24,086 3,118 997,820 12,950 24,658 .......... 977,420, · 38,201>24,490 .... . ..... Total disbursements ... 1,022,234 1,031,982 1,035,428 1~040,115 Balance .................... sur.15,935 sur.21o,451 sur. 599 300,23~ ~ this amount $117,211 was spent for additions, improvements &c., and $174,635 for equipment, lea,ing a surplus of $8,385. -(V. 51, p. 303; V. 52, p. 40, 120. V. 53, p. 436, 568, 712, 754.) ColuD1bus Shaurnee & Hocking.-Line of road, Columbus 0., easterly to Zanesville and southerly to Glouster, Shawneeand Shawnee Jtmction, with branches; total, 161 miles, of which 110 miles are owned and 51 miles leased. This comnanv was formed in November, 1889, by consolidation of the Columbus & Eastern(foreclosed in 1888) and the Shawnee & Muskingum River Railroad~ The mortgage (trustee, Metropolitan Trust Company) is for $5,000,000r of which $1,500,000 is reserved for extensions and may be issued a."fi; $30,000 per mile of road completed and '2<J.uipped. Stock authorized.. $6,000,000 (half preferred); outstanding, $4,000,000. The equipment. bonds are a first lien on equipment, a second lien on.the road, and cover$210,000 of the company's first mortgage 5s, which can only be sol<l for new equipment to be made subject to the equipment bonds Th& Zanesville Terminal Railway is leased for 99 years, and its bonds guar-anteed as to interest. Th e companies using the Terminal's propertypay $2 ·00 per loaded car. From J an. 1 t o D ec. 31, 1 891 (12 m onths), estimated gross earning were $624,642; n et, $259,100. (V. 5 1 , p . 493; V. 52, p. 80; V. 53, p. 604.) Columbus Southe rn.-Completed in 1890 from Columbus, Ga., on. Central of Geor ~a R ailroad, to Albany, Ga., on Savannah Florida &. Western , 88 m iles. Stock, common, $880,000 ; preferred, $440,000~ Operated by Georgia Midland & Gulf. President, W. B. Lowe. Coluinbus Springfie ld & Cinc lnnatl.-SEE CLEVELAND CINCINNATI CHICAGO & ST. LOUIS. · Columb u s & X e n ia.-0wns from Columbus, Ohio, to Xenia, Ohio,. 55 miles. Operated as a division of the Little Miami, and is leased fo:p· 99 years from December, 1869, in connection with that road, to the Pitts-burg Cincinnati Chicago & St. Louis, which pays 8 per cent on stock.. The lease is g__uaranteed by the Pennsylvania Railroad Company. TheColumbus & xenia pays 82 5 per cent dividend per annum, 21 6 per cen1i March 10 and September 10 and 2 per cent June 10 and December 10 Concord & lUontreaJ .-0wns from Nashua, N. H., via Concord: to Woodsville (near Wells River Junction), 128 miles; Woodsville toGroveton Junction, 53 miles; Wingroad to Mt. Washington, 20 miles; Hookset branch, 3 miles ; total owned, 204 miles. Leases Concord & Portsmouth RR., Manchester to Portsmouth, N. H., 41 miles, and branch to Suncook, 7 miles; SuncookValleyRR., 18 miles; SuncookValleyEx- tension, 4 miles; Pemigewasset VaHey RR., Plymouth to North Woodstock, N. H., 21 miles; Manchester & North Weare RR., 19 miles; Nashua. Acton & Boston RR., Nashua t o Concord, 24 miles; total leased, 136: miles. Operates lines to Belmont, Jefferson, Kilkenny and Alton Bay,.. 50 miles; 12 interest in Man. & Keene RR., 30 miles. Total operated,.. 425 miles. INVESTORS' SUPPLEME.NT. 46 MAP OF THE ~- COLUMBUS, HOCKING VALLEY AND - F https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis [VOL. LlV. JANUARY, 1192,] RAILR0AD STOCKS .AND BONDS. 47 Subscribers -w-111 confer a great favor by giving Immediate notice of any error discovered In these Tables. Bonds-PrinciINTEREST OR DIVIDENDS. RAILROADS. Miles D ate Size,·or When Due. Amount Rate Per When Where Payable, and by pal, Par Outstanding For explanation of column heailings, &c., see notes of of Stocks-Last Road. Bonds Value. Whom. on :first page of tables. Cent. Payable Dividend. --- - - - - - - Oonn. & Passum.-Pref. stock, 5-6 p. c.ren'l,99yrs.c* 1st mortga~e (White Riv. June. to Canada line) c* Massawippi st'k, guar.same iliv. as Conn. & Pass. Newport & Richford 1st mort. ?,uar. by C. & P . c* Concord & Ports.-Stock, 7 p.c. rn 1, 99 yrs. Conc'd . . Oonnecticut River-Stock ($2,670,000 authorized) .. Connecting (Phila.)-lst mortga:13e, endorsed ...... c Oorning Oowanes~ & Antrim- eb., d'n at 100 . . cw Ooshocton & Soul e1-n-lst mort§iage ................. Cresson cl: Clearfield Co. & N. Y. hort Route-1st M. Oumberland & Pennstvania- 1st mort. gold, guar. Oumbe1·land Valley- tock ($484,900 is preferred). 1st and 2d morts., (2d $109,500due April, 1908). DanburiJ & Nor.-Stock, 5 p. c. gu. 99 yrs. Rous.RR. 2d mor*age, now 1st .... .. ...................... c* Consoli ated mortgage ($100,000 are 6s) ....... c* General mortgage ....... . .. . ......... .. .......... c"" Danville & East Tenn.-lst M., $25,000 p. m., gold. anville & Western-lstmortgage,gold, guar .... c D D ayton & Mich.-Com. stock (312 p.c"J.uar. C.H.&D.) Preferred stock (8 per cent rar. . H. & D.) ..... Consol. mort., cruar. princ'l int. by C.H. & D.c Toledo Depot, ~d mortgage ....................... c Dayton cl: Union-lstmort., sink. fund (notdrawn)c Income mortgage bonds, sinking fund ... ........ r Dayton & Weste1·n-lst M., guar. L. M. and C. & X.c Dec. Chesap. &New Orl.-lst M., $20,000 p. in.,:fi"c* Delaware-Stock-6 p. c. guar. till 1898, P.W.& .... Mortgage bonds, convertible, guar., P. W. & B.c* ---· 110 37 22 47 80 7 85 30 31 57 --·· 52 37 36 36 36 .... ---· 100 $2,500,000 ---· 1873 100 · &c. 1,500,000 100 400,000 1881 1,000 350,000 100 350,000 ---..... 100 2,580,000 1864 1,000 991,000 1883 1,000 1,070,000 1887 600,000 1884 500.&c. 750,000 1891 1,000 1,000,000 .... 50 1,777,850 .. .. 500 &c. 270,500 50 600,000 i872 100 &c. 200,000 1,000 1 880 300,000 1883 100 150,000 (1) 1891 1,000 1891 100 1,052,000 2,403,243 50 1,211,250 1871 50 1,000 1881 2,675,000 1864 53,000 1;000 1879 225,000 1,000 1879 90,000 1864 1,000 495,000 1,000 (1) 1889 25 1,703,257 -- -609,000 1875 500 &c. ·--- ---------- 142 ---32 32 37 ---- 100 85 I ---- - - 212 7 212 5 312 2 6 6 5 6 5 g. 2 8 212 7 5&6 5 5 g. 5 g. 1¾ 2 5 7 7 6 6&7 6 g. 3 6 F. A. F. J. & A. Boston, S. Dep. &Tr. Co. & 0. do do & A. do do & J. do do J. & J. Bost.&Manchester, N.H Springfield, Mass. Q.-J. M. & S. Phila., Penn. RR. Office. M.&N. Pllila., Fidelity Trust. J. & J. Boston, Intern'! Tr. Co. M.& N. N. Y., Morton, Bliss. M.&N. N.Y.,Consol. Coal Office. Q.-J. Phila., T .A. Biddle & Co. do do A. & O. F. & A. Bridieport, Hous. RR. o do J. & J. do do J. & J. do do A. & 0. New York A ency. J. & J. A.. & o. N.Y., Richmon & Dan. Cincinnati. A. & 0. do Q.-J. J. & J . N.Y., Kessler& Co.; Cin. do do M. & S. J. & D. N.Y., Am. Exch.Nat.Bk. J. & D. J & J. N. Y., Bank of America. J. & J. ----··---· Dover, Co.'s Office. J. & J. J. & J. Phil., Fid. I.T. &S.D.Co. 8 Feb. 1, 1892 Apr. 1, 1893 Feb. 1, 1892 Jan. 1, 1911 Jan. 1, 1892 Jan. 1, 1892 1900-'1·'2-'3-'4 May 1, 1898 1917 May 1, 1904 May 1, 1921 Jan. 1, 1892 Apr.1, 1904-8 Feb. 15,1892 July 1, 1892 July 1, 1920 Apr. 1, 1925 July 1, 1921 Oct. 1, 1936 Oct. 1, 1891 Jan. 7, 1892 J an. 1, 1911 Mch. 1, 1894 D ec. 1, 1909 After 1910 Jan. 1, 1905 July 1, 1921 J an., 1892 July 1, 1895 The Concord and the Boston Concord & Montreal railroads were con· opera ted by Consolidation Coal Company. The new first mortgage bonds solidated in September, 1889, forming this company. The Boston Con- I were issu ed to r efund bonds maturing. They are guaranteed (endor.sedi cord & Montreal preferred (Class I) is entitled to 6 per cent yearly; the by the Consolidation Coal Company-which see. See V. 52, p. 390. Boston Concord & Montreal new stock (Class II, of which there 1s Stock, $1,500,000; par, $100. (V. 52, p. 390.) $540,400), a~d old stock (Class III, amounting to ~59,6~0) are entitled CuJDberland Valley,-Owns from H arrisbur"', P a ., to Potomac to not ex~eeding 6 per cent yearly out of any sa':1-ng which may result River, Md., 82 miles (and with leased lines operates to WinQhester, a. from t1;1e refunding of the present funded and floatmg dell~ of th~ Boston total distance of 116 miles). It leases-Cumberl and Valley & MartinsC~n~cord & Montreal. The Concord st?c~ (Cla:ss IV_) _will receive such burg Railroad, 34 miles; Dillsburg & Mechanicsburg Raih'oad, 9 miles; dividends a~ may be declared after provid:1,ng ~or the dividends on Class I. Southern Pennsylvania Raih·oad, 21 miles; controls Mont Alto Railroad, The con_solidated mortg~ge was authonzed.m February, 1890, to fu_nd 18 miles, but accounts are kept separ ate; total controlled and operated, the ~o~tmg debt (a~~untmg to $1,0 2 7,700 June ~<?, l 890), to provide 165 miles. An extension of the Southern Pennsylvarua, it is said, will for retirement of pnor bonds 'YheJ?- due, an~ for nnprovements. The be built to F annettsburg. Of the stock, $975,800 common and $237,200 Ma:nchester & La":l'ence has mst1tut~d smt to recover $1,000,000 preferredisownedbyPennsylvaniaRailroadCompany. Largeadvances claimed to be due from the 9.0 ncor(_l Raih'oad. . have been made to branch roads . The Southern Pennsylvania is leased In 1891 ~he N~w 1;(ampshue L egislatw:e auth9nzed $3,000,000 sto~k for net earnings; no interest paid on bonds since March, 1875. for exten iJ?-B, improvements, etc., and m Octob_er $1,200,000 of this Dividends : In 1880 to 1884, 10 per cent yearly ; from 1885, to Oct., was a_uthonzed by vote of t~e stockholders to be i ssued: . . 1 891, both inclusive, at rate of 8 p~r c~nt yearly. Div1den~s-In 1890, on class_ I. and class IV., 6 per cent, m 1 891, In 18 9 0 gross earnings on the mam line were $919,523; net, $251,650; 6; a :first div., 2 per cent, wa~ paid on Class II. Dec., 1891. . surplus over fixed charges $219 989 against $214 281 in 1889. Report for 1 890-91 was m V. 53, p. 602. For fiscal year endin"' ' ' ' ' June 30, 1891, gross earnings $2,471,698; n et, $665,052; fixe/i ~anbury & No1·-w-alk.-Owns ~om Danbury, Coll?., to Wilson charges, $314,171; dividends, $228,000; balance, surplus, $122,881, of Pomt, So~th Norwalk, Con:n,, 2612 miles; branches to ;Ridgefield and which $117,437 was spent for betterments. (V. 50, p. 313, 422; v. Hawleyville, ~og~ther, 10 nnles; total operated, 3612 miles. Lea~ed to 51, p. 568; v. 52, p. 349; v. 53, p. 602.) the Housatomc for 99 years from October, 1886, the lessee to pay mterConcord & Claremont (N. H. ).-Owns from Concord to Clare- est and 5_ per cent per annum on stock. . . mont, . H., 56 miles; branch, Contoocookville to Hillsborough, N. H., Danvll~e & Eas_t Te11:nessee.-P!OJected from Danville, Va., on 15 miles; leases-Peterboro & Hillsboro Railroad, 18 miles; total oper- t~e 4-t~ant1c & D~nv1lle Railroad1 to Bristol, Tenn.,. on the East Tenn. ated, 89 miles. Controlled by Boston & Maine, which, with the Boston Vrrguµa &_ G~o1:"gia, about 180 miles. ~to<;1k authorized, !ll3,000,000 for & Lowell, guarantees interest on the bonds under lease of Northern RR. road m Vrrg~ma and $20,000 per mile 1;i-North Carolina-par $100. Stock, $412,100. The Merca°:t1le Tru~t Co. of New Yo:rk 1s trustee of the mortgage. Concord & Portslllouth.-Owns from Portsmouth, N. H., to Thomas Ewmg, President, New York City. (":- 53, p. 48.) . Manchester, N. H., 4012 miles, and branch to Suncoolr, 7 miles. The Danville & '!"estern.-Owns from Danville, Va., to Pa~rrnk Court road was sold to fir t mortgage bondholders in 1857, and leased to Con- H~use, Va.,. 70 miles, nai:i:ow gauge. Successor to the Da;i~e & New cord Railroad in 1862 for 99 years. Lease rental is $25,000 a year, ' R~ver, sold m fore~losure ~n August, 1889, a;id purchase~ m mterest of which gives 7 per cent a year to present stockholders Richmond & DanVIlle, whrnh guarantees prmcipal and mterest of the Connectic ut & Passumpsic.-Owns from White River Junction, bonds, $552,000 of which it owns. Stock is $368.600_. par $100. . Vt., to Canada Line, 110 miles; leases, Massawippi Valley and branch Dayton & lllichig_an.-Owns :payton, 0., to Toledo, 0., 1~1 miles, (Canada), 37 miles; total operated, 147 miles. Under the lease of Mas- a11:d leases ~e~hler po Fmcµay, 11 nnles. Leased May 1, 1863, m perpesawippi Railroad the stock of that company is to receive same dividends tmty to Cmcmnati_ Ham1!ton & D ayton: ~ease amended January 23, as are paid on the stock o! the l essee. 'l'he lessee holds $400 ooo Mas- 1 870. The rental 1s the mterest and smkmi fund of debt, and 8 per sawippi stock not included in the amount outstandino-. Frorh January cent on p_referred stock and 3~ per cent on $2,.:596,7_50 common. Profit 1, 1887, this road was leased to the Boston & Lowell lor 99 years on a po lessee m 1885-6, $2:15,219; m 1886-7, $276,562; m 1~87-8_, $363,~33; basis to pay Connecticut & Passumpsic stock 5 per cent per annum for m 1888-9, $348,068; m 1889-90, $379,494. q-ross earnm~s m 1889-90, ten years and 6 per cent thereafter. In October, 1887, the Boston & $1,591,123; net, $692,294; surplus o,:_er mterest, $5t>4,834. Due Lowell carrying this road, was lea ed to Boston & Maine. l essees for advances, March 31, 1 890, $708,405. Dividends since 1880-In 1 881, 5 per cent; in 1882 and 1883, 6; in Dayton & Union.-Owns from Dodson, 0., to Union City, Ind .. 1884, 512; in 1 885 and since at rate of 5 yearly. 32 mi1es; leases Dayton to Dodsdon, 15 miles; total operated, 47 miles, Connecticut Kiver.-Owns from Springfield, Mass., to Keene, N. O:perated l?Y qievel_and C~ncinnati Chicago & St. Louis_, which,jointly H., 75 miles; branches, 5 miles; total, 80 miles. Consolidated with with the Cm?mnati H!'),milton & Dayton 1 O'!ns the capital stock. AU Ashuelot Raih'oad in February, 1 890. In year ending June 30, 1891, surplus earnmgs over mterest g<?es to a smkin~ fund for the redemption gross earnings were $1,120,644; net income over renta ls, interest, &c., of b?nds at not above 100. Cap1~al stock $80,300; par, $50. In year $236,400, against $206,400 in 1889-90. Dividends since 1876 h ave ending June 30, 1890, gross earnmgs, $156,119; net, $52,559; surplus been at the rate of 2 per cent quarterly. Notes payable outstanding over charges, $16,954. June 30, 1891, $569,200. For quarter ending September 30, 1891, Dayton & Western.-Owns - from Dayton, 0., to State line, Ind., gro~s earnings, $308,234, against $318,364 in 1890; net, $125,295, 37 mi1es, and leases 4 miles to Richmond, Ind. Leased from January 1, agamst $127,440. (V. 51, p. 171, 3 82, 681; V. 52, p. 239, 718; V. 53, 1865, for 99 years, renewable forever, to Little Miami, and carried with p. 187, 367, 674.) that road in the gener al lease to the Pittsburg Cincinnati Chicacro & Connecting (Philadelphia),-Owns from Mantua Junction to St. ~ouis. ~he lessees, Little Miami and Pitt burg Cinc!--Iln~ti & St. Frankford Junction, Pa., 7 miles; total mileage including 2d, 3d, 4th Loms, are virtual owners and are answerable for a ll obligatwns. Of tracks and sidings, 42 miles. L eased to Philadelphia & Trenton for above bonds $32,000 are 7s. 999 years, and with that road operated by Pennsylvama Raih'oad. Decatur Chesapeake & New Orleans.-Projected from DecaRental $139,993, which pays 6 per cent on $1,278,300 capital stock tur. A.la., to Gallatin or Nashville, Tenn., of which 34 miles from Ala(par $50)-o wned by Pennsylvania Raih·oad. bama State line northward are completed. Was under construction from Corning Co-w-anesque & Antl'im,..;.owns from Corning, N. Y., D ecatur,. Ala., to Shelbyvµle, Tenn., 1?5 miles. _In Dece~ber, 1890, to Antrim, Pa., 53 miles; branch to Harrison Valley, Pa., 32 miles; W. L. Frierson, of Shelbyville, was appomte_d receiver, and m January, total, 85 miles. Consolidation of several roads in 1873-74. Leased to 1891, the road wa~ or~ei:ed sold. Sale which was to take place Aug. and operated by the Fall Brook Coal Company, together with 7 miles 10, 1891. h as ~een JJ?-defimtely postponed, and a ?,ew management ~as owned. Rental, $150,000, equal to 6 per cent on common stock and 12 ta_ken possess.ion, with Nelson Cr_omwell as President. .A. comprollllse per cent on preferred stock; dividends paid quarterly, March 31, &c. with the creditors was pro»osed m July, 1 891-see plan y. 53, p. 58. Stock-common, $1,500,000, and preferred,' $500,000, par $50. The See V. 52, p. 80. Mo~·tgage is for $3,000,000. Stock authonzed, $3,000,· coal line of Philadelphia & Reading and New York Central is over the 000-$20,000 per mile. (V. 49, p. 760; V. 52, p. 80 ; V. 53, p. 58. ) road of thi company, which jointly with said companies guarantees the Dela,vare.-Ownsfrom Delaware Junction(PhiladelphiaWilmiugton bonds of the P~ne Creek Railroad Company. • &Baltimore), Del., to Delmar (Maryland line), 84 miles; branches, 16 In year endmg June 30, 1891, gross earnings were $723,285; net, miles; total operated, 100 miles. Opened 1855-60, and leased for 21 $193 1209; surplus to lessee, $33,247. George J. Magee, President, years from 1876 to the Philadelphia Wilmington & Baltimore Company~ Cormng, N. Y. (V. 52, p. 427.) rental, 3J per cent of gross earnino- , but stock must have 6 per cent. If Coshocton & Southern.-Owns Coshocton, o., to Zanesville, t~e. 30 per cent_ is more than sufficient to pay c~arges and 6 per cent about 30 miles; completed in June, 1889. Operated by Cleveland & divideud1 t!1e residue goes to le see for advances (il any), and any balCanton under a verbal acrreem.ent Stock $600 000 Net income in ance 1s <hvided equally between lessee and lessor. Of the stock $744,350 1889-90, $10,880; interest~ &c., $27,671; deficit,' $16,791. President, is o ·;v;ncd by Philadelphia Wilmington & Baltimore. In rear ending o.utoJ. W. Cassin"'ham Boston Mass. ber 3 I. 1890, gross earnmgs were $857,777 ; net, $132,049; interest~ CovingtC:n & 'llI aco~ ,-See MACON & N ORTITERN. div idends, etc., $148,634; deficit, $16,584, payable by lessee as per l ease. Dela,vare & Bound Brook.-Owns from Bound Brook (Central Cresson & Clearfield County & N e-w- X ork Sho1·t Rout~.- of New Jersey) to Delaware River, 27 miles; branch to Trenton, 4 miles. Owns fyom Cress~n, Pa., to Irvona, Pa.., ~7 miles, and branch to R~ch- In connection with Central of New Jersey and North Pennsylvania land. Mmes, 2 miles. Stock, $1,000,000, par, $50. _In 1890-91 gross forms a line between New York aud Philadelphia. In May 1 879, the earrungs were $119,684; net, $59,427; sarplus above.mterest, $14,427. property was leased for 990 years to the Philadelp-hia & Readin"' RailCn_rnberland & Pennsylvanta.-Owns ~·om Cllll?-berland, Md.-l road Company-the less~e paying interest and 8 per cent on stoc1r after to Piedmont, Md., and several branches, ~7 nnles. It 1s owned ana May, 1883. Gross earnmgs in 1890, $954,302; net, $419,776 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis l INVESTORS' SUPPLEMENT. IVot. LIV, MAP OF THE DELAWARE & HUDSON CANAL COMPANY'S RAILROAD & CANAL SYSTEM. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .. RAILROAD STOCKS AND BONDS. JANUilY, 1892,J 49 Subscribers wlll confer a great Cavor by giving bn1nedlate notice oC any error discovered In these Tables. Bonds-PrlnctRAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or pal, When Due. Amount Rate Per When For explanation of column headings, &c., see notes of Par Outstanding of Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. --- Del. d BO'lffld Br.-Stock-8 p. c. gu. Phila. & Read. lat mortgage ....... .. ............ .. ........ . . . ... . c 1st. mort. on Trenton Br., 2d mort on main line. Delaware <l Hudson Canal-Stock ...... . . . . • ...•.•.. Debentures secured by Penn. Div. Bonds . .. . ... c* 1st mort. on Pennsylvania Div. ($10,000,000)c&r Schenectady & Duan. lstmortgafe,interest guar. Blu1f PointLandimprove. Co. l s M.,gold,guar.c* Delaware Lackawanna & Western-Stock . ... . .... . . $100 1,000 1879 I 1,000 100 i874 1,000 1877 1,000&c 1874 100 &c. 1890 1,000 .... 50 ..... 1877 1872 1,000 1860 1879 1~000 1873 1876 500.&c. 1,000 1889 100 .... 100 1871 500 &c. 1886 500 &c. 500 1888 "'ii i875 4 ··-· ·--· .i.4 . ... ~onsol. mort. on roads & equipm'nt ($10,000,000) 288 lain bonds (not mortgage) convertible .......... Del. Maryland & Va.-Junc. & B.-lst M. to State . . ·44 .Junction & Breakwater 2d mortgage . . ... . .... .. c* 44 Breakwater & Frankford 1st mortgage to State . . 19 Worcester RR. 1st. M. (s.f. not in opera,t'n) gold.c* 35 Delaware <I New ~.-Col. Tr.,red. afterJune'91. * .... Denver <I Rio Gra -Stock ($45,500,000) ......... Pref. stock, 5 per cent non-cum. ($28,000,000) .. . 1st mortgage, gold, sinking fund . ... . ........ c*&r 295 Consol. mortgage, gold, (for$42,000,000) .... c*&r 1,621 Improvement mortgage ($5,000 per mile) g .. o*&r 1,610 ---- -- -- Delaware & Hudson-( SeeMap.J-OwnscanalfromRondout, N.Y.; to Honesdale,Pa., 108 miles; completed in 1828. Also owns the followtngrailroads,viz.: Lackawanna&Susquehanna-Nineveh,N.Y.,to.Jefferson .Junctio:n, Pa., 22 miles;_ Valley RR-Carbondale to Scranton, Pa._, 17 miles; Gravity RR. (4feet3mohgauge)-OlyphanttoHonesdale,56miles; Boheneotady&Meohanioville-East Glenville to Coons, N. Y., 10 miles; Cllerry Valley Sharon & Albany-Cobbleskill to Cherry Valley, N. Y., 21 miles; & Duanesburg-Slchenecdtadly97to 14 miles; Schenectady Adirondack RR.. 57 miles: tota owne • m ilDuanesburg, es. Leaies: Albany & Susquehanna-Albany to Binghamton, 142 miles; New York & Canada-Whitehall, N. Y., to Rouse's Point, N. Y., 113 miles, and branche~ 37 miles; Re11:sselaer & Saratoga and leased li11:esAlbany, N. Y., to Lake Champlam, N. Y. , and branches, 192 miles; Utica Clinton & Binghamton and Rome & Clinton, sublet to New York Ontario & Western, 44 miles; Union Railroad-Green Rid(7'e to Wilkesbarre, Pa., 20 miles; other lines, 4 miles, and .Jefferson Raii'i_:oad (trackage)-.Je.trerson .Junction to Carbondale, 35 miles. Total controlled, 727 miles, but only 686 operated in Delaware & Hudson system. This company was chartered April 7, 1823. It is among the largest miners and carriers of anthracite coal. In .June, 1889, the Adirondack Railroad (60 miles) was purchased. Of the Rutland Railroad stock De!aware & Hudson owns $3,000,000 preferred and $1,000,000 common. The Delaware & Hudson stock was increased to $30,000,000 to pay off the bonds due in 1884 and 1891. Of this the $5,500,000 in treasury was issued at 75 to stockholders ot October 15, 1890. The Pennsylvania Division bonds cover coal lands, collieries, railroads, canal, equipment and all other property in Pennsylvania. Dividends since 1880: In 1881, 412; in 1882, 7; in 1883, 7; in 1884, 7; in 1885, 6; in 1886 and 1887, 5; in 1888, 6; in 1889, 1890 and 1891, 7 per cent. Price o:r stock: In 1883, 10212'@11218; in 1884, 67-w114; in 1885, 66¼@10019; in 1886, 8714@108¼; in 1887, 9619'@10619; in 1888, 103'@ 134; in 1889, 130-w156; in 1890, 120'@175; in 1891, 11814@14119; in 1892, to Jim. 22, inclusive, 122 7 s1D l27. Report for 1890 was in CHRONICLE, v. 52, p. 319. INCOME ACCOUNT, 1889. 1890. 1887. 1888. $ &ceipts$ $ $ From coal............ 9,951,163 10,622,067 8,652,318 7,800,207 From railroads . . . ... . 9,189,974 9,554,221 9,482,975 10,670,732 822,300 911,968 From miscellaneous. . 461,507 552,892 Total.. .•••........ 19,602,644 20,729,180 18,957,593 19,382,907 Operating expenses .. 13,388,570 14,044,710 12,992,868 13,303,234 Net ............ . ... 6,214,074 Int., taxes & rentals . . 3,303,768 6,684,470 3,340,336 5,964,725 3,426,829 6,079,673 3,511,333 Ba.lance for stock, 2,910,303 3,344,134 2,537,896 2,568,340 v. 51, p. 383, 569, 753,910; v. 52, p. 202, 819, 761.) -('V. 50, p. 1 '72, 204, '703; Delaware Lackawanna & Western.-(See Map}.-This company operates under lease an extended system of roads in New York, Pennsylvania and New Jersey. Owns from Delaware River (N. .J. line) to New York State line, 115 miles; branches-Scranton to Northumberland, 80 miles; branches to Winton, Storrs, Keyser Valley, etc.~fa., 17 miles; leased lines in New York-New York Lackawanna & western Railroad, 214 miles; Cayuga & Susquehanna Railroad 34 miles; Greene Railroad, 8 miles; Oswe"'O & Syracuse Railroad, 35 miles; Utica Chenango & Susquehanna Valley Railroad, 97 miles; Valley Railroad, 12 miles; controls and operates-Syracuse Binghamton & New York, 81 miles; leased lines in New Jersey-Chester Railroad, IO miles; Morris & EBBex, 120 miles; Newark & Bloomfield, 4 miles; Warren Railroad, 18 miles; Sussex, 30 miles; Passaic & Delaware and extension, 22 miles; total operated. 900 -miles. Formerly- paid 10 per cent dividends, but in the dull times 1876 to 1880 no d1vidends were paid; in 1880 3 per cent was paid; in 1881. 6¾; hl 1882, 1883 and 1884, 8; in 1885, 7¾; from 1886 to .Jan., 1892, both inclusive, at rate of 7 per cent per annum. Price of stock in 1884, 86¾@13318; in 1885, 8258~2938; in 1886, 115@144; in 1887, 11318'@13919; in 1888, 12312'@14518; in 1889, 13438 @151; in 1890, 1233s1Dl4912; in 1891, 1303s'wl4538; in 1892, to .Jan. 22, inclusive, 13818@1433s. · On the leased lines from .January 1 to Sept. 30, 1891 (9 months), gross earnings were $5,695,918, against ,796,674 in 1890; net, $2,675,136, against $2,892,583; fixed charges, $1,753,748, against $1,· 701,580; surplus, $921,388, against $1,191,003. The report tor 1890 was in CHRONICLE, v. 52, p. 202. EARNINGS AND EXPENSES, 1887. 1888. 1889. 1890. $ $ $ $ Gros~ reo'ts all so•troes .. 39,845,857 43,232,422 8,247.622 40,688-645 Operating expenses ...•. 30,694,000 33,546,135 30,653,586 32,41:11:1,859 Betterments, equip., &o.. 810,061 967,605 223,577 240,019 $ . 5 --- $1,777,000 1,500,000 277,000 30,000,000 4,829,000 5,000,000 500,000 300,000 26,200,000 3,067,000 600,000 185,000 250,000 200,000 400,000 2,000,000 38,000,000 23,650,000 6,38 2,500 28,435,000 8,050,000 2 7 6 1¾ 7 7 6 4 g. 1¾ 7 7 3 4 3 4 g. 6 g. .... Q.-F. Phila., 240 So. Third St. F. & A. Phila.,Guar.T.&S.D.Co. M.&N. Phila., Of., 240 So.3d8t. Q-Mch. N.Y.Of.,21 Cortlandt St. A.. & o. do do M. & S. do do M.& 8. do do do .J. & .J. do Q.-.J. N. Y., 26 Exchange Pl. M.& S. do do .J. & D. do do J. & .J. Philad~33 So.Fo~h St. F. & A. .J. & .J. do do A.. & 0. do do .J. & D. Philadelphia, Office. ..... st., Office, 4//w~: N. Y . 2½ 7 g. M:·&·N. N. Y., Fourth Nat. Bank. 4 g. J. & J. do do 5 g . J. & D. N. Y.,FourthNat.Bank. Feb. 17, 189Z Aug. 1, 1905Nov. 1 1899' Dec. 15, 1891 Oct. 1, 1894. Sept. 1, 1917 Sept. 1, 1924 .Jan. 1, 1940 .Jan.20,1892: Sept. 1, 1907 .June 1, 1892' .Jan. 1, 1932: Feb., 1899 .Jan. 1, 1932: April, 1896 June 1, 1899' Feb: ·i6: ·i891 Nov. 1, 1900 Jan. 1, 1936June 1, 1928, I INCOME ACCOUNT. 1887 1888 1889 1890 $ • $ · $ · $ • Net receipts............ . . 8,341,796 8,718,682 7,370,459 7,948,767' Interest and rentals 5 203 419 5 218 419 5 222 375 5 328 49'"' ····• _•_ __:_ ' ' ' ' ' ' .. Balance surplus 3,138,377 3,500,263 2,148,084 2,620,273 Dividends ( 7 per 1,834 1,834,000 1,834,00() · ·· _ _ _,000 ___ _ _ _ _1,834,000 _____ _ _ __ Balance after dividends. 1,304,377 1,666,263 314,084 786,273 (V 50 170 245 703 707 V 51 172 V 52 202 280 707 · · ' p. • ' ' ; · ' p. ; · ' p. ' ' .), BMa,vare Maryland & Vlrcrlnla.-Road extends from Harnng_ton to Rehoboth, Del., 44 miles; <leorgetown to Franklin City, Va., 5._ miles; total, 98 miles. In July, 1885, the company passed into control or the Philadelphia Wilmington & Baltimore Railroad, and became part :r the Pennsylvania Railroad system. In May, 1891, it was a '5'l'eed that of the $600,000 debt due the State of Maryland, tile Pll!l a u '.!lphi~ Wilmington & Baltimore should pay $215,000 in cash a ud. tll,tt th& balance of $385,000 should be ex tended in a 3 per cent mort.: ;agc for 40 years, but redeemable at company's option after .January 1, 1895. Se& V. 50, p. 498. In year endin~ October 31, 1890. gross earuni~s $207,351 ;_ net, $31,941; _deficit under ~ntere~t, $18,547. In 1890-91 grosB, earrungs, $203,281, net, $29,583, deficit, $30,675.-(V. 52, p. 498.) Delaware & New En~land.-This company owns $4,250,000 ot the $5,000,000 Poughkeepsie Brid~e Co. stock, $1,600,000 of the Central New En.,.land & West ern (whoie issue) and $900,000 Ha1·tford & Connecticut \Vestern. The collateral trust bonds of 1889 are secured by deposit of $!,000,000 Poug llinepsie Brid~e s tock and $1,597,400 Central New England & West e rn stock. StooK, $7,500,000 (par $100) is, held by trustees to preserve unit y of system, and trustees' certificates issued therefor are dealt in on the market. In .Jan. 1892, control ot Poughkeep sie Bridge reported to have b een obtained by Philadelphia & Reading. See CHRONICLE of .Jan. 30. President, J. W. Brook, Philadelphia. (V. 50, p. 275; V. 51, p. 876.) Denver & Kio Grande.-(See Map)-Owns from Denver ctty., Col., via Pueblo, Salida, Gunnison, Montrose and Grand .Junction, t<> the western boundary of Colorado, where it connects with the Rio Grande Western to Salt Lake City and Ogden. Branches run to Lead• ville, Dillon, Rifle Creek, Crested Butte, Silver ClUI', Chaffee, Aspen,. Ouray and Hot Springs; also from Pueblo to Silverton, via Cuohara. Alamosa and Durango, with branches to El Trinidad, Espanola, Di;i Norte and Wagon Wheel Gap, etc.; total .June 30, 1891 (including Rio Grande .Junction leased), 1,677 miles. The standard gauge and road with third rail (completed and under ooustruct1on) embraces a considerable part of the mileage. There is a through standard gauge route between Denver and Ogden over this road, the Rio Grande .Junotion (which see) and the Rio Grande Western. The Rio Grande Southern road was completed in January, 1892. See V. 53, p. 674. The rormer Denver & Rio Grande Railway was foreclosed .July 12. 1886, and reorganized as the Denver & Rio Grande Railroad. The Rio Grande .Junction Railway is leased jointly by this companyand the Colorado Midland, and its bonds guaranteed. Of the consolidated gold bonds (United States Trust Company, true.tee) $6,382,500 were reserved to retire the prior bonds when due. See abstract of mort.,.age in CHRONICLE, V. 47, p. 228. United States Trust Co., New York, is trustee of the improvement mortgage of 1888. Mortgage a.bstra.ct in CHRONICLE, V. 47, p. 229. Dividends on preferred stooli:: In 1887, 21.g per ot:int; tu 1888, 2½1 per cent in cash and 114 in scrip, subsequently redeemed in cash; in 1889, nil; February, 1890, 114; August, 1~; in 1891, February, 219; in August nil.-See V. 53, p. 108, 125, 140. Price of common stock : In 1886, 14 ¾ 11>35 ~ (assessment paid); in 1887,. 2019'@32¾; in 1888, 15'@23; in 1889, 14¾@18~; in 1890, 1419@21 7a; in 1891, 1314'1>21; in 1892 to Jan. 22, inclusive, 17@1912. Price of preferred stock: In 1886, 53:J463 7s; in 1887, 52 7a1D683s; in 1888, 40@55~; in 1889, . 4214@52 7a; in 1890, 4511>6119; in 1891,. 40'1v637a; in 1892, to .Jan. 22, inclusive, 4511>50. From .July 1 to Nov. 30, 1891 (5 months), gross earnin1ts were$3,955,729, against $4,151,098; net, $1,713,071, a~ainst $1,819,071. Fiscal year now ends June 30. Report for 1890-lll was published at length tu the CHRONICLE, v. 53, p. 435,437. 1888. 1889. 1890-91. oe·nt... $ $ Gross earnings . .••..••...•....••. . ...• 7,668,654 8,046,603 8,8!0;921 Net earnings ...•...••••.•••.....•...... 2,563,972 3,332,410 3,359,061> Disbursements- Interest on bonds ........ . ........... . 1,492,615 1,654,675 1,944,805 345,550 320,068 319,19~ Taxes and insurance ................. . 295,625 t ...• . .•• 591,250 Dividend on pref. stock .. ....••• . .. ..• 240,906 240,000 259,816Betterments ......•...••••. . ... •• . ... .• 137,26640,551 52,434 Miscellaneous ...•••.•••... . ...•• . .. ..•. Total.................... . ......... 2,415,247 2,267,177 3,252,329 Surplus.......................... .. .... 148,725 tl,065,233 106,733 tFrom the surplus of 1889114 per cent was paid on'prer. Feb., 1890. Total expenses .••.. . ••. 31.594,06134.513,74030,877,163 32,739,878 -(V. f>2. p. 80,126,762; V. 53, p. 108,125,423, 435, 43'7, 474,604. Netreceipts.............. e,341,796 8,718,682 7,370,459 7,948,767 673, 674.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ ~ llatburton !I, 0 Gravenlmrst z ;] rn ~ 0 ~ 02 rn ~ ~ ~ i ~ :-3 MAP OF THE DELAWARE, LACKAWANNA ~ WESTERN R.R. AND ITS CONNECTIONS. 1 ~ .J-.A N'V.ARY, 1892.J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis :n RAILROAD STOCKS AND BONDS. DENVER & RIO GRANDE l\AILROAD I,aqo ile los PosWJ \b INVESTORS' SUPPLEMENT. [VOL. LIV. Subscribers wlll confer a great favor by giving lnunedlate notice of any error discovered In these Tables.. Bonds-Prinol RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size,or When Due. A.mount Rate per When Where P~ble, and by pal, For explanation of column headings, &c., see notes of of Par Stocks-Last Outstanding Road. Bonds Value. on first page of tables. Cent. Payable om. Dividend. Des Hoines ~ Ft. Dodg~lst mortgage, interest guar 1st mortgage, income, interest guaranteed .....•• Mo~a~e on extension, interest guaranteed ..... Des Mmnes&No.-lstM.for$832,000($20,000p.m.) c* Des Mo·i nes Union-1st mortgage ....••.. . ...••• .. .. Detroit Bay 0ity & Alp.-lst mortgage, gold . ..... c* Detroit Grand Haven & Mil.-lst e~p. m. f ~ --o* Consol. mort. gold,J.1:ar. by Gr. runk o an .o* Detroit Hillsdale & S. .-St'k,4 p. o. rent'l,L.8.&MS. Detroit Lansing & N orthern-Stook, common ....•.• Preferred stock .... .. . . ...............•.....•.. . ... Ionia & Lansing 1st M.,extended in 1889,guar.o* D. L. & N. oonsol. mort. (1st mort.on 167 m.) . . . c* Saginaw & Western 1st mort., endorsed, tf.old . . o* Gr. R. L. & D. 1st ($20,000 p. m.) endorse . ... . . c"' Ditbiup,te & Sioux Oity-Stook .............• . . . ..•.... 1st mortgage 2d di vision . ... . ....• , . ........•...... Gen. mort. for $3,000,000, held by Ill. Cent.(51.o&r Iowa Falls & Sioux City 1st M., Ia. F. to 8. ity .. Cher & Dak. and Cedar Rap. & Chio. 1st rnorts ... Duluth d! Iron .Range-lat mortBage . ... . .. ·.· .. -~&r Dul.Red Wing&So.-lstM.,g.,$2 ,OOOpermile.c &r Duluth South Shore d! Atlantic- Marquette & Onton. lstmortfage, not drawn .... Ma.rq. H. & On. Mort.,lst on O miles, red. at 100 Mortgage. lat on 45 miles, red. at 105 .. .... o*&r Gen. Mort.-lst. M. on Mar. & West., 21 m . . ... o* Duluth South Shore & A.tlan., lat mort., gold . . o&r , lat oonsol. mortgage, gold, $20,000 per m . . o*&r New lat oonsol. mol't., interest uaranteed.c*&r Duluth & Winnipeg.-latM.for$7,0 0,000,gold.c*&r 6 88 88 56 42 1874 $1,000 1,000 1874 1881 1,000 1890 1,000 233 isss 189 189 65 .... "55 222 43 55 524 43 143 184 197 116 .... 50 90 78 156 366 383 545 .... 1:000 1,000 1878 1878 200 &o. 100 --·· 100 ··-· 100 is69 1,000 1877 500 &c. 1,000 1883 1,000 1887 100 i864 500 &o. 1888 1869 500.&c. 1888 1887 1,000&c 1,000 1888 2,500,000 2,000,000 3,200,000 1,350,000 1,825,600 2,510,000 770,000 2,672,000 566,000 1,108,000 8,000,000 586,000 1,295,000 2,339,500 3,930,000 4,531,000 1872 100 &c. 1878 1,000 1,000 1883 1885 1,000 1887 1,000 1,000 1888 1890 100 &c. 1,000 1889 1,354,500 576,000 1,500,000 1,400,000 4,000,000 Denver Texas & Fort Worth.-SEE UNION PAC. DENVER & GULF. Des Moines & Fort Dodge.-Owns from Des Moines to Fort Dodge, Ia., 87 miles, with an extension 56 miles to Ruthven, connecting with Chicago Milwaukee & St. Paul. Common stock, $4,283,100; preferred, $763,500; par, $100. Leased from Jan. 1, 1887, to the Chicago Rook Island & Pacific for 19 years at a rental of 30 per cent of the gross earnings, with a guarantee of 4 per cent interest on the first mortgage and extension bonds, and 212 per cent per annum on the incomes. Des Moines Northern & Western.-Owns from Des Moines to Boone, lowa, 42 miles, and from Clive (7 miles from Des Moines) to Fonda (narrow gauge), 107 miles; total, 149 miles. A. consolidation in 1891 of tbe Des · Moines & Northern and the Des Moines & Northwestern. The narrow-gauge portion of the road is to be made standard at once. There are also first mortgage 5 per cents, due in 1895, on the Fonda Division. Stock authorized, $6,500,000 ; par, $100. President, F. M. Hubbell, Des Moines, Ia.-(V. 53, p. 256.) 'J)etrolt Ba}' City & Alpena.-Owns from Alger, on Michigan Central Railroad, to Alpena, 105 miles; Loon Lake Branch, 29 miles; Mud Lake Branch, 21 miles; other branches, 77 miles; total road, 232 miles. Has a traffic contract with Michigan Central. Stock authorized ls $2,000,000; issued, $1,670,000; par, $100. A. dividend of 4 per cent was paid January 3, 1888, and of 212 per cent February 10, 1891. From Jan. 1 to Nov. 30 (11 months), in 1891, gross earnings were $401,330, against $480,798 in 1890; net, $147,934, against, $2:i 0,808. In 1890 gross earnings, $523,037; net, $217,394; interest , $150,000; dividend (212 per cent), $41,750; surplus, $25,644. In 1889 gross $487,209;net, $196,418. V. 50, p. 174,735; V. 51, p. 113; V. 52, p.320.) Detroit Grand Haven & 1'Ilhvaukee.-Owns from Detroit, Mich., to Grand Haven, Mich., 189 miles. This is a reorganiza tion of the Detroit & Milwaukee, which was sold in foreclosure September, 1878.' The bonds are guaranteed by the Grand Trunk of Canada. Stock, $1,500,000; par, $50. Real estate mortgages, $226,000. From Jan. 1 to Nov. 30, 1891 (11 mos.), gross earnings were £225,067, against £2l2,790 in 1890; net, £58,946, agst. £ 51,673. Gross earnings in 1890, £232,772; net, £55,271; defloitunderinterest, £16,891 (against £19,131 in 1889)-paid by Grand Trunk Ry. Co. Detroit Hillsdale & Southwestern.-Owns from Ypsilanti, Mich., to Bankers, Mich., 65 miles. The Detroit Hillsdale & Indiana road was sold in foreclosure Jan. 28, 1875, and this company organized by the bondholders. Leased in perpetuity from July 1, 1881, to the Lake Shore &Michigan Southern Co.; the rental is $54,000per year-4 per cent, Detroit Lansing & Northern.-Owns from Grand Trunk Junction, Mich., to Howard City, Mich., 157 miles; branches-Stanton June· tton to Big Rapids, Mich., 63 miles; Belding Branch, 112 miles; total owned, 222 miles. Leases: Grand Trunk Junction to Detroit, 3 miles; Lansing to North Lansing, 1 mile; Saginaw & Western RR.-A.lma to Howard City, 43 miles; Grand Rapids Lansing & Detroit RailroadGrand Rapids to Grand Ledge, 53 miles, and branch, 2 miles; total, 323 miles; also operates Saginaw Valley & St. Louis, 45 miles, and pays interest on its debt, but reports earnings separately. The Detroit Lansing & Lake Michigan was foreclosed in 1876 and this company formed. Dividends on common stock since 1879-In 1880, 6; in 1883,6; in 1884, 6; in 1887, 3; in 1888 and 1889, nil. On preferred stock in 1879, 912 per cent; from 1880 to 1884, inclusive, 7 per cent; in 1885, 512; in 1886, 812; in 1887, 7; in 1888, 312; in 1889 and since, nil. The sinking fund holds $210,000 of the Detroit Lansing & Northern 7s and $20,000 of the Ioni!l. & Lansrng 5s given a s outstanding in the table. From January 1 to Nov. 30, 1891 (11 months), gross earnings were $1,152,805, against $1,124,278 in 1890; net, $345,428, against $364,· 327; interest, rentals, &c., $236,490, against $236,490 ; surplus, $33,429, against $59,725. Report for 1890 was in V. 52, p. 497. INCOME ACCOUNT. 1887. $ Total gross earnings .1,147,160 Netoverexp.&taxes. 451,045 Disbursements- 1888. $ 1,041,800 321,170 1889. $ 1,131,986 325,062 1890. $ 1,219,663 392,797 Interest. . . . . . . . .... .. . 273,697 310,546 331,774 318,633 Dividends* . ....... . ... 230,465 87,850 . . . .. . . . . . .. . .. . :Balance, surplus . . ... df. 53,117 def. 77,226 def. 6,712 sur. 74,164 * In 1887 7 on pref. and 312 on common; in 1888 312 on pref. -(V.50,p. 244,483,661,662,801; V. 51, p. 20,171,279; V. 52,p. 497; v. 53, p. 187. Dubuque & Sioux Olty.-Owns from Dubuque, Iowa, to Iowa Falls, 143 miles ; Iowa Falls to Sioux City, 184 miles; Manchester to Cedar Rapids, 42 miles; Onawa, Iowa, to Sioux Falls, Dakota, 155 miles; i«>tal 524 miles. Also leases Cedar Falls & Minnesota, 76 miles. In April, 1887, a controlling interest in the stock was sold to Illinois Central and in February, 1891, the road was leased to that company, the _rental being net earnings and the lease being terminable on 60 days notice. See V. 52, p. 350; V. 51, p. 493. · https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $1,200,000 1,200,000 672,000 740,000 (1) (1) (1) 1,600,000 4 212 4 I;> g. 6 g. ~g 3 312 5 7 6 g. 5 1 7 5 g. 7 5 5 5 g. J. & J. J. & J. J. & J. J. & J. M.&N. J. & J. A. & 0. A. & 0. J. & J. F. & A.. F. & A. J. & J. J. & J. J. & J. M. & 8. J:·&-·J. J. & D. A.. & 0. J. &D. A. & 0. J. & J . 8 6 6 6 5 5 4 5 J. & D. N. Y., Chase Nat. Bank. M.& 8. do do do J. &D. do A.. & 0. do do J. & J. do do New York City. J. & D. F. & A.. New York or London. J. & J. Phil.,Gua.Tr.&safeDep. ..6.g. g. g. g. g. .N.Y.,Chic.R.I.&Pac.Co. do do do do N. Y., Central Trust. N. Y., Central Trust. N. Y., Farm. L. & Tr. Co. NYAg.CanBk.Com&Lo. do do N. Y.,Farm. L. &Tr._Co. Boston. Boston, Of., 50 State St. Boston, 2d Nat. Bank. do do do do do do N. Y., Office, 216 B'way. do do do do do do do do N. YN Office, Mills Bldg. ew York City. Jan. 1, June 1, June 1, Jan. 1, 1905 1905 1901> 1940 Jau:·i···i913 Nov.14, 1918 Nov. 15, 1918 Jan. 5 1892 Feb. 15, 188'1 Feb. 15, 1888 July 1, 189~ Jan. 1, 1907 July 1, 1913 Sept. 1, 1927 Dec. 31, 1891 July, 1894 June 1, 1938 Oct. 1, 1917 Dec. 1, 1935 Oct. 1, 1937 Jan. 1, 1928 June 1, Moh.1, June 1, A.pr. 1, Jan. 1, June 1, A.ug. 1, July 1, 189~ 1908 1923 19251937 1938 1990 192~ In 1887 the Dubuque & Sioux City RR. Co. began a suit to annul the lease of the Cedar Falls & Minnesota Railroad. Under a cross bill in the U. 8. Circuit Court in Chicago, that Court decided the lease valid af3 against the Dubuque & Sioux City Co., but that the Illinois Central Railroad Co. is in no way bound to the Cedar Falls & Minnesota Co. The Dubuque & Sioux City Company has appealed to the SupremeCourt of the United States. Stock is $8,000,000. See V. 47, p. 440, lliinois Centralowns$7,897,300 stock and all the 5 per cents; also all the Cherokee & Dakota andl Cedar Rapids & Chicago 5s, due in 1935, which are pledged as part. security for its 4 per cents of 1952. Dividends : In 1888, 12 of 1 per cent; in 1891, June 30, 1 per cent; Dec. 31, 1 per cent. From July 1, 1890, to December 31 (6 months), gross earnings wer& $1,204,851, against $1,037,405 in 1889; net,$340,078, against $322,516~ ln year ending June 30, 1891, gross earnings were $2,558,222. In 1889-90 gross $1,909,924; net, $476,926. Deduct interest, $484,538 ; loss on Cedar Falls & Minnesota, $189,170, leaving a deficit balance of $196,783. (V. 51, p. 493; V. 52, p. 350, 427; V. 54, p. 159.) Duluth & Iron Kange.-Owns Duluth to Ely, Minn., 116 miles. Sold to a syndicate in 1887, and above mortgage was authorized a.t therate of $25,000 per mile for construction and $7,000 for equipment, the Metropolitan Trust Co. of N. Y. being trustee. There are also $3,500,000 of inoomeoertifioates and the stock i.B $500,000. There is a laud grant from Minnesota of about 506,000 acres. See V. 51, p. 875. The .Minn. Iron Co. owns thestook, the income certifloatesand $400,000 bonds. In '90 groBs earnings were $1,114,67G; net, $575,203; surplus over charges and improvements, $330,744. In 1889, gross, $1,019,988; net, $434,990;: 1m.rplus over flxedcharges, $209,482. Jan. 1 to Sept. 30, net earnings $379,876, against $301,617. H. R. Bishop, 15 Broad St., N. Y., President. (V. 50, p. 71; V. 51, p. 875.) Duluth Red Win~ & Southern.-ProJeoted from Duluth vi~ R ed Wing, Minn. 1 and S10ux City, Iowa, to a pomt opposite Omaha, Neb. Under oonstruot10n from Red Wing southerly. Trustee of mortgage is Central Trust CoD1pany. President of Company, F. W. Hoyt. Duluth South Shore & Atlantlc.-Operates Duluth to Sault Ste. Marie, 411 miles (of which 44 miles from Duluth to Iron River is used in common with Northern Pacific) ; "800" Junction to St. Ignace,. 43 miles; other lines, 135 miles; total, 589 miles. At Sault Ste. 'Mari& connection is made by bridge with the Canadian Paoiflo. Purchased a.t judicial sale October 20, 1886, the Detroit Mackinac & Marquette Railroad and property. The Marquette Houghton & Ontonagon Railroad 160 miles, was leased in perpetuity, but in 1890 the lease was rescinded and all the company's property, except its franchise, sold to the Dulutlh South Shore & Atlantic, which assumes its debt and gives new consols, in exchange for its stock. See abstract of first mortgage, V. 45, p. 274. In July, 1888, a controlling interest in the Duluth South Shore & Atlantic stock was sold to Canadian Pacific parties. Common stock 1& $12,000,000; preferredi $10,000,000; par both $100. Preferred stock is 6 per cent, non-oumu ative. Car trusts August, 1890, $520,325 at 6per cent, due August, 1895. The first consolidated mortgage of 1890 has interest at 4 per cent,. guaranteed by Canadian PaoiJio. The amount autb.orized by it is. $20,000,000 on the 580 miles now or hereafter owned, and $20,000 per mile of new lines in excess of 580 miles. Of this $20,000,000 ther& were reserved $12,656,000 bonds to retire at or before maturity all the, prior bonds, $3,308,000 to exohan~e for Marquette Houghton & Ontonagon stock and $3,342,000 to build 35 miles of road from Iron Riverto a point 6 miles east of Superior, Wis., for t erminals, to pay :floating debt, etc. See V. 50, p. 874. The oonsol. bonds due 1938 were all in company's treasury at last report. . From January 1 to Sept. 30, 1891 (9 months), gross earnm"'S wer& $1,683,386, against $1,727,832 in 1890; net, $634,252, agst. $§30,469. In 1890 gross earnil_!gs were $2,241,097; net, $818,393. In 1889' gross, $1,976,350; net, $829,474. (V. 49, p. 21; V. 50, p. 622, 874.) Duluth Transfer Rallw-ay Colllpany.-Projeoted from Duluth to West Duluth, Minn., 10 miles, with spurs to factories, etc., 40 miles. In July, 1891, a mortgage was recorded for $2,000,000 to the Metropolitan Trust Co. of New York. This mortgage will ena ble the company to build boats and wharves, e<J,uip its lines, and furnish cheap terminal facilities to all railroads entermg or desiring to enter Duluth. Stock. authorized, $2,000,000. Duluth & Wlnnlpeg.-Owns road completed from Cloquet on, St. Paul & Duluth (27 miles, from City of Duluth) DOrthwesterly, 85' miles. Extensions from Cloquet to New Duluth, 16 miles, and from northwest end of track to Lake Winnibighoshish, under construction. North Star Construction Company of Baltimore is building the road. From January 1 to Oct. 31, 1891 (10 months), gross earnings wer& $56,732, against $36,681 in 1890. (V. 53, p. 58, 368.) East Pennsylvanla.-Owns double track from Reading,, Pa., ti<> A.llentown, Pa., 36 miles. Leased for 999 years from May 1, 1869, toth& Philadelphia & Reading RR. at a rental of 6 per cent per annum on the stock and interest on the bonds. Austin Corbin, President, Philadelphia. East Shore TerJDlnal.-Owns railroad, piers, warehouses, cotton presses, &o,, on the water front at Charleston, 8. C., its lines connectingthe railroad system centering at Charlestov with the piers. (V. 53. p~ 407.) J A.NUA.BY, 1892.] RAILROAD STOOKS AND BONDS. Sub11erlbers wtp e o nf'er a grea t f'avor b y giving Immediate n o tice of any error discovered In these Tables. ::i~:~~~: I I RAILROADS. Miles Date Size, or INTEREST OR DIVIDENDS. For explanation of column headings, &c., see notes of of Par Ou~~~g Rate Per When Where Payable, and by Stocks-Last on first page of tables. Road. 1Bond~ Value. Cent. Payable Whom. Dividend. Dunlcirk Allegh. Val. cl: Pittsburg-lat morts., gold.c 90 2d and 3d mortgages ($200,000 only are 3d M.).c 90 East Broad Top-1st mortgage .. .............. .. .... r 30 East Pennsylvania,-Stock6 p.o.gu.999 yrs.Phil.&R. 36 New 1st mortgage ..... ... . ................ ... ... c* 36 East Shore Terminal-lat mortgage, gold ........ o* . ... East Tennessee Vi1·ginia cf: Georgia,-Common stock. . . .. 1st preferred stock (5 per cent non-cumulative).. . . . . 2d preferred stock (5 per cent non-cumulative).. . . . . Old lstM.s.f. (Bristol,Tenn.,viaChat.toDalton, Ga) 242 Cons.M.,divis'al,g.,(Bristol,Tenn.,poSelma,Ala.)c* 552 Ala. Cent.-lstM.,SelmatoMeridian,guar..... .. c 95 E. Tenn.Va . & Ga. consol. M., g. ($20,000,000) .c&r 1,083 lstext. M., g. ($20,000p. m.) ................. c&r 237 Impr. and equip. mort. gold .................. c&r 1,083 Cincinnati Extension Collateral Tr.,guar., g .. c* .... General mort~age for $15,000,000, gold .... c&r .. . . Knoxville & Ohio-1st M., gold, guar.byrent.c*&r 66 East cf: West Ala.-lst cons. M., g. ($15,000 p. m.) c* 119 Eastern (N. H.J-St'k, 412p.c. ren'l till 1938,E. Mass. 16 Eel River-Stock, 2 (to 3) p. c., guar. by Wab. West. 94 Elqin Joliet cf: Easter~lst M. for $10,000,000 g .. o* 165 ElizabethLex.cl:BigSandy-lstM.,g., s.f.,notdr.c* 110 Elmira 001·Uand cf: Northern-1st pref. M., gold .. o* 120 ls t mortgage, gold................................ 120 Elmiracl:LakeOnta1·io-SodusBay&So.-lstM.,g.c 34 Elmira cf: Williamspo1·t--St'k, com., 5 p. c. ren'l, N.C. 76 Preferred stock, 7 p. c. rental, 999 yrs., No. Cent. 76 1st mortgage .. .................... .. .. . ....... . ... r 76 Income bonds, 999 years to run ................ c* . . . . Empire cf: Dublin-1st M., g. ($320,000) $8,000p.m. 30 Erie cf: Pitts.-Stock, 7 p. o. rental,999 yrs .. PennCo. 85 Consol. mort. free of State tax (for $4,500,000).c 81 1870 $1,000 1872 1,000 1873 1,000 . . .. 50 1888 1,000 1890 1,000 . . .. 100 .... 100 .... 1870 1:000 1880 1,000 1879 1,000 1886 1,000 1887 1,000 1888 1,000 1890 1,000 1890 1,000 1885 1,000 1886 1,000 .... 100 .... 100 1897 1,000 1872 1,000 1884 1,000 1884 1,000 1884 1,000 .... 50 .... 50 1860 1,000 1863 500 1889 1,000 .... 50 1868 1,000 East Tennessee Virginia & GeoTgla Kallway.-(SeeMap.)Owns: Bristol to Chattanooga, Tenn., 242 miles; Morristown to Unaka, 44 miles ; Cleveland to Selma, 264 miles; Selma to Lauderdale, 95 miles; Elizabeth, Ala., to Akron, 53 miles; Rome, Ga., to Macon, 159 miles (18 miles jointly with Georgia Pacific); Macon to Brunswick, 190 miles; branches to Savage Creek, &c., 78 miles; Rome to Attalla, Ga., 62miles; total owned, 1,187 miles; trackage (Mobile & Ohio) Lauderdale to Meridian, 18 miles; leases the Knoxville & Ohio Road, 66 miles, and O(tntrols lihe Briarfield Blockton & Birmingham Railroad, Birmingham Junction to Blockton, and branch to Bessemer, 52 miles; total .June 30, 1891, 1,323 miles. Controls also the lines of the Memphis & Charleston Railroad from Chattanooga to Memphis, Tennessee, 310 miles, and the Florence and Somerville branches, 20 miles; the Mobile & Birming• ham, 150 miles. Total East Tennessee Virginia. & Georgia, 1,800 miles. Also leases the Louisville Southern RR, 130 miles, and is interested in the Erlanger roads; the Cincinnati New Orleans & Texas Pacific, Cincinnati to Chattanooga, Tenn., 336 miles; the Alabama Greali Southern, Wauhatchie, Tenn., to Meridian and branch, 295 miles, etc. ORGANIZATION, ETC.-This road, the East Tennessee Virginia & Georgia R ailway, was formed in 1886 as successor of the East Ten· nessee Virginia & Georgia Railroad, which was sold in foreclosure May 25, 1886. The Richmond Terminal held on November 30, 1891, $8,783,200 first _preferred, $6,536,000 second preferred and $5,8~0.000 eommon, of which $8,283,200 first preferred and $4,225,000 second preferred were pledged under its trust deeds. The Knoxville & Ohio was leased for 99 years from 1889 and itfl bonded interest guaranteed by the rental. In April, 1890, acquired an interest in the Alabama Great Southern system by purchase of stock. See Cincinnati New Orleans & Texas Pa,oiflo, also statement concerning Cincinnati Extension bonds below, and V. 50, p. 560. In .July, 1890. leased Louisville Southern for 99 years, guaranteeing 5 per cent on bonds. (See V. 51, p. 51.) STOCKS AND BoNDs.-Both the first preferred and the second preferred stocks are entitled to a non-cumulative dividend of 5 per cent. Dividends have been: On first preferred stock in 1887, 4 per cent; in 1288, 5; in 1889, 5; in 1890, 5; in 1891, 2. Price of common stock-In 1886, 11@18 70; in 1887, 91811!17; in 1888, 8@1114; in 1889, 838@1112; in1890, 63s@l112; in 1891, 5@8¼; in 1892, to .Jan. 22 inclusive, 738@9::\i. Price of first preferred-In 1886, 67@835s; m 1887, 521il82¼; in 1888, 55@83; in 1889, 6311!7612; in 1890, 5511!81 ; in 1891, 4011!66; in 1892, to .Jan. 22 inclusive, 50@51 ::\!. Price of second preferred-In 1886, 24-a>35::\i; in 1887, 18@32; in 1888. 1714-a>2712: in 1889, 20@2514; in 1890, 13~-a>2714; in 1891, 979@1918; in 1892, to .Jan. 22 inclusive, 14::\!@1918. Besides the bonds of the Knoxville & Ohio in the table above the company guarantees $3,000,000 Mobile & Birmingham 5 per cents and $5,000,000 Louisville Southern 5 per cents-see those companies. The trustee under the consolidated mortgage of 1886 and the first extension mortgage of 1887 is the Central Trust Company of New York; $7,325,000 consolidated bonds were reserved to retire prior bonds of the Alabama Central RR. and the East Tennessee Virginia & Georgia. The Cincinnati Extension bonds -of 1890 were issued jointly by this company and the Richmond & D anville, and are guaranteed, principal and interest by the Richmond & West Point Terminal. They are further secured by a deposit of £340,000 6 per cent preferred A shar es and .£783,010 ordinary B shares of the Alabama Great Southern. There is also to be deposited for them $500,100 stock of the Cincinnati New Orlearrs & Texas Pacific,. and pending such deposit $500,000 in cash. See abstract of mortgage m V. 52, p. 83. The general mortgage of 1890 for $15,000,000 was to be used in building branches, double tracking, and retiring $4,470,000 extension bonds of 1887, whole issue not to exceed $20,000 per mile. Earnings from .July 1 to Dec. 31 (6 months), ineluding the K. & O., the Louisv. South. and Mob. & Bir., were: gross in 1891, $4,106,830, .against $4.402,603 in 1890; net, $1,202,781, against $1,290,351. The fiscal year ends June 30. The annual report for 1890-91 was in V. 53, pp. 711, 714. The results do not includ,e Knoxville & Ohio, etc. 1887-88. 1888-89. 1889-90. 1890-91. Miles operated .June 30 .... 1,069 1,067 1,197 1,265 $ $ $ $ Total gross earnin1s ....... 5,109,917 5,301,624 6,412,078 6,718,730 Oper'ng expenses taxes.3,393,238 3,508,610 4,338,838 4,644,289 --- Net earnint ............ 1,716,679 1,793,014 2,073,240 2,074,441 Miscell. receip . . . . . . . . . . . . 7,156 16,752 52,687 126,304 Total net ineome ....... 1,723,835 1,809,770 2,125,927 2,200,745 Disbursements- Interest on bonds .......... 1,086,993 1,223,852 1,404,743 1,855,243 Div. on 1st pref.stock, 5 p.c. 550,000 550,000 550,000 * 550,000 Miscellaneous .............. 16,156 18,775 ....... ... 73,966 Total disbursements ... 1,653,149 1,792,627 1,954,743 2,479,209 Balance .................... sur.60,686 sur.17,143 su.171,184def.278,464 *This dividend was paid in the year out of previous income, but from ihe earnings of 1890-91 only 2 per cent was declared, payable Nov. 30. -(V. 52, p. 80, 83,831,902; V. 53, p. 407, '711, '714, 922.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $2,000,000 7 g. J. & D. N. Y., N. Y. Cent.& Rud. 900,000 7 A. & O. do do 500,000 4 .J. & .J. .Jan., 1885, last paid. 1,714,950 3 .J. & .J. Phil., Phil. & R ead. RR . 495,000 4 g. M. & 8. do do 1,000,000 5 g. F. & A. New York. 27,500,000 .... . 11,000,000 2 .... . Office, 80 Broadway. 18,500,000 . "'7" ·&· . J. N. Y., Chase Nat. Bank. 3,123,000 3,106,000 5 g. .J. & .J. do do 1,000,000 6 g. .J. & .J. do do 12,770,000 5 g. M. & N. do do 4,940,000 5 g. .J. & D. do do 6,000,000 5 g. M. & s. do do 6,000,000 5 g. F. & A. do do 1,250,000 5 g. .J. & D. do do 2,000,000 6 g. .J. & .J. do d@ 1,725,000 6 g. .J. & D. Last paid D ec. , 1887. 750,000 See rem . .J. & D. Boston, by Treasurer. 3,000,000 1 A. & 0 . Boston, by Treasurer. 5,479,000 5 g. M. & N. N. Y., Drexel, M. & Co. 3,282,000 6 g. M. & S. N. Y., Mills Building. 750,000 6 g. A. & 0. N. Y., 192 Broadway. 1,250,000 5 g. A. & 0. do do 500,000 5 g. .J. & .J. N. Y., Nat. Bank Com. 500,000 212 M. & N. Phila., Penn. RR. Co. 500,000 312 .J. & .J. do do 1,000,000 6 .J. & .J. do do 570,000 5 A. & 0. do do 240,000 .J N. Y.t unioii Trust Co. 1,998,400 2,109,000 7 .J. & .J. ao do .T: U· Q,.~J: June Oct. .July .Jan., Mch. .A.ug. Nov. 1, 1900 1, 1900 1, 1903 1892 1, 1958 1, 1915 ·so: .i891 .Juiy · 1,· ·i900 .July 1, 1930 .July 1, 1918 Nov. 1, 1956 .June 1, 1937 Sept. 1, 1938 Feb. 1, 1940 Dec. 1, 1940 .July 1, 1925 Dec. 1, 1926 Dec., 1891 Oct. 5, 1891 Nov. 1, 1941 Mch. 1, 1902 Apr. 1, 1914 Apr. 1, 1914 .July 1, 1924 Nov. 1, 1891 .Jan. 2, 1892 .Jan. 1, 1910 Oct. 1, 2862 .Jan. 1, 1919 Dec.,1891 .July 1, 189 East & West Railroad of Alaba1na.-0wns Cartersville, Ga to Pell City, Ala., 117 miles; branch, 2 miles. The bo:o.ds issued in 1887 retired $800,000 of prior 1st mort~age bonds and $500,000 of deben tures outstanding. Stock (authorized), $2,000,000 (par $100), issued at $10,000 per mile of completed road. Chas. P. Ball, Cartersville, Ga. Receiver, was authorized to issue $650,000 certificates to put the road in thorough repair. See V. 48,l. 189. Gange chan~ed to standard in 1890. Litigation is pending an no interest, 1t is said, has been :paid on receiver's certificates. In year ending .June 30, 1890, gross earnmgs were $112,462; net, $13,0H,. In 1890-91 gross, $133,479; net, $6,868. E. Kelly, President, New York. Eastern (JJlass.)-See Boston & Maine. Eastern (N. H.)-0wns from Portsmouth, N. H., to Seabrook (Massachusetts State Line), 16 miles. It was formerly leased for 99 years to the Eastern (Mass.) Railroad, and a new lease was made from October 1, 1878, for 60 years and 2 months at $22,500 per year, equal to 412 per cent uer annum. In .June, 1891, a stock dividend of 50 per cent was paid. The directors have been authorized. to arrange for a union with the Boston & Maine Railroad Company. M . Currier, President, Manchester, N. H. (V. 52, p. 939.) Eel Klver.-0wns from Logans;J?ort, Ind., to Butler, Ind., 94 miles This was formerly the Detroit Eel River & lliinois Railroad, sold under foreclosure July 6, 1877. Leased for 99 years, April 1, 1887, renewable forever, to Wabash Western, at 2 per cent yearly on the stock till April, 1892, then 212 till 1895 and 3 per cent thereafter. V. 53, p. 436. Elgin J ollet &; Eastern.-( See Map)-Owns from Waukegan ill. (two miles east of Elgin), via Spaulding and .Joliet, to McCool, Ind. 123 miles, and branches Aurora to N ormantown, 9 miles-Walker to Cos ter, m.-32 miles; total, 164 miles. This is a belt line on a large sea.le, crossing, or intended to cross, at a distance of about 30 miies from Chicago, all the roads approaching that city, and affording facilities for transfer of freight from one line to another without breaking bulk. Also reaches the coal fields of Grundy County. The first mortgage (trustees Central Trust Company and .J. W. Butler) provides for $10,000,000 bonds, of which the balance unissued can be disposed of on vote of a majority of the stockholders for extensions, betterments, eto. From .July 1 to Nov. 30 (5 months), in 1891 gross earnin~a were $338,876, against $269,992 in 1890; net, $126,868, against $91,414. The annual report for 1890-91 was in V. 53, p. 603, showing gross earnings, $631,281; net, $195,833, against $142,159 in 1889-90. President, Samuel Spencer, New York.-(V. 52, p. 350; V. 53, p. 603.) Elizabethtown Lexington &; Big Sandy. - Operates from Huntington, West Va., to Lexm~ton, Ky., 139 miles, of which from Ashland to Straits Creek .Junction, 21 miles, and from Huntington to Big Sandy River, 9 miles, are leased. From February 1, 1886, this road was leased for 250 years to the Newport News & Mississippi Valley Company on the basis of the annual net slll'plus, if any, being paid to this company. Stock, $3,510,700 (par $100), of which the Newport News & Mississippi Valley Company on .January 1, 1891, owned $1,055,500. There are also $489,520 certificates of indebtedness. Sinking fund is $25,000 yearly, but no bonds drawn. In .Jan., 1892, the road was sold to Ches. & Ohio and bonds were to be offered an exchange for C. & 0. 412 per cents. From .January 1 to Oct. 31, 1891 (10 months) , gross earnings were $662,011, against $682,012; net, $187,721, against $269,998 in 1890 . Annual report for 1890 was in V. 52, p. 497. For year 1890 gross earnings were $816,329; net, $313,044; surplus over fixed charges, $42,793. In 1889 gross earnin_gs were $815,830; net, $282,239; surplus over rentals and interest, $12,382. (V. 52, p. 497; V. 53, p. 408.) Eltnb-a Cortland &; Northern.-0wns Elmira, N. Y., to Cana stota, N. Y., 119 miles, and leases during corporateex~stence, Ca~astota Northern Railroad, Canastota to Camden. N. Y., 21 miles. S~ld m foreclosure in 1878 and again in February, 1884, and reorg!),mzed as at present.. Stock is $2,000,000; par, $100. In ;vear endm~ .June 30, 1891, gross earnin,g s were $463,452; net, $115,171; interest OJ preferred mortgage, etc., $46,400; r entals, etc., $18,000; surplus, $ iJ0,771. In 1889-90 gross $480,416. Austin Corbin, President, New York City. Eltnlra & Lake Ontarlo.-0wns from Canandaigua, N. Y., to Chemung .Junction, 64 miles~ So~us roint to Stanley, 34 miles; other 2 -total, 100 miles. A consolidation m ')ecember, 1886, of the Elmll'a .Jefferson & Canandaigua, the Sodus l:Sa.y & Southern and the Chemung railroads. It is leased at cost of operating to the Northern Central, which owns $1,499,600 of the $1,500,000 stoclr and $226,000 Sodus Bay bonds, including $84,000 in insurance fund. Lease may be terIIll nated on thirty days' notice from either party. In 1890 the gross earnings were $733,447 ; detlctt under operating expenses and taxes, $25,512; deficit under charges, $54,350, payable by lessee. In 1889 gross, $630,449; deficit under operating expenses, $-18,996. Ehnira &; Willlatnsport.-0wns from Williamsport, Pa., to El mira, N. Y., 76 miles. This company was r~organized under the pres ent name February 29, 1860, and leased to the NorthQrn Central Rail way for 999 years from May 1, 1863, at a rental of $151,500 per annum after .January 1, 1880. The dividends on the common stock are 5 per cent and on the preferred 7per cent. Gross earnings in 1889, $841,404; net, $187,644; surplus, $14,408. Gross earnings in 1890, $912,68~; neli, $148,084; rental, etc., $182,293; loss to lessee, $34,208. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .,. ~-<. ~ ' ·" / .StlJ.l/ :r1e' ~ Ma ~ / ?; . ~ ~ ~ ~ ~ ~ ~ C) • ~ 00 ~ 0 pj ... 00 ·(), 00 ~ ~ ~ -~ ~ ~ MA P OF THE EAST TENNESSEE, IRGINiA & GEORGIA RAILWAY SYSTEM. ,...., ~ 0 .r t'-1 ~ $.A.NU.A.RY, 1S92.] RAILROAD STOCKS AND BONDS. Subscribers ,vill confer a great favor by giving~lmmediate notice of any error discovered In these Tables. Bonds-Prine!RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or Due• .A.mount Rate per When Where Payable, and by pal,When •Par Outstanding Stocks-Last of :For explanation of column headings, &c., see notes of Road. Bonds Value. Dividend. Whom. on :first page of tables. Cent. Payable bonds ...... c General mor . for $4,500,000 series .A., g., guar... Eureka Springs-1st mortgage, gold .... ........... c 2d mort. income bonds ............................. European d: North .A.m.-Stock 5 p. c. rental, M. C . . Evansville d: Indianapolis-T. H. & Southe.lst M.c* Evansville & Indianapolis 1st mortgage, gold . . c* Consol. mortgage (for$2.500.000) gold, guar.c* Evansvi lle d: Ter-re Haute-Stock ............ ......... 1st consolidated mortfage, gold ................ c* Mt. Vernon Branch ls mort. g. ($15,000p. m.).c* Sullivan County Coal branch 1·st mort. gold .... c* Evans. & Rich. 1st M. West Div., gold, 5iuar . ... c~ do East. Div. lst:M:., g.,guar.for$1, 00,000.c* Evansville Terre B. d: Ohic.-lst M., g., int. guar .. c* 81 81 19 ,Erie & Pittsburr-( Oon.J-Equipment i~c~rit~\~~~.~•.~~~~.·.·_-_-_-_-.·_-·.:::: :: : ·. ·. ·.::::: ·.:::::: :~~ Farmville d: Powhatan-1st mort. for $320,000 .... Second mortgage for $500,000, incomes ........... lflindlay Ft. Wayne d: West.-lstM.,g.,$18,000p.m.c* fJitchburg-Common stock ........................... Pref. 4 per cent stock, non-cum .................... Eonds, $500,000 are 6s, due Oct. 1, 1897 ...... .. c Bonds,$500,000 yr'ly,'99to 1903 incl., bal.1908.c* Bonds ..... ............................ ........ ...... Eonds to State of Mass. (3 p. c. int. till 1892) ..... Bonds ..........................•................ c&r Bonds .............................................. Bonds ($1,500,000 due 1907, interest .A.. & 0) .... Bonds ............................................. c Boston Barre & Gardner 1st M., $91,300 are 7s .. 2d & 3d morts., $186,300 of 3 p. cts. are 2d mort.. Troy & Boston 1st mortgage, consolidated ........ ---- 114 40 54 135 i44 25 30 100 ---55 55 ..... ...... ---80 ---..... 1870 $1,000 1,000 1890 1,000 1883 500 1883 100 i879 1,000 1,000 1884 1,000 1886 50 ---1,000 1881 1,000 1883 1,000 1890 1,000 1888 1,000 1890 1,000 1870 1,000 1872 1881 ..... --- ---- 1890 ....... ---- ...... '74&'7 ------· ---.... '80-'88 1889 1887 1887 .... 1890 ...... '84-'87 ...... 1890 38~ 1873 1875 ·35 1874 .... .---- 1,000 100 100 1,000 1,000 $511,000 775,000 500,000 500,000 2,500,000 260,000 652,000 1,348,000 3,000,000 3,000,000 375,000 450,000 1,000,000 (i) 775,000 325,000 150,000 . ............ ........... (1) 7,000,000 16,497,600 1,000,000 4,500,000 .... 750,000 5,000,000 2,250,000 1:000 1,000 390,000 1,000 2,500,000 1,000 500,000 100 &c. 391,000 243,600 577,000 i",ooo 7 4 g. 6 g. 4 212 7 6 g. 6 g. 2 6 g. 6 g. 5 g. 5 g. 5 g. 6 g. 6 g. 6 6 -----· 5 g. ---· 2 6&7 5 5 3 to 4 41'<! 5 4 4 5&7 3 &6 7 ,.A.. & o. J. & J. F. & .A.. Feb'y 1. .A.. & o. M. & S. J. & J. J. & J. Q.-J. J. & J. .A.. & o. .A.. & 0. M. & S. M. & S. M. & N. J. & J. M.& N. ..... N. Y., Union Trust Co. do do N. Y., Mercantile Tr. Co. do do Bangor, Treas. Office. N. Y., Farm. L. & Tr. Co. do ' do do do Tr. Co. & L. N. Y., Farm. do do do do do do do do New York City. N. Y., Farm. L. & Tr. Co. do do do do ---- - .. .......... . .......... J. & J. N. Y., Washington Tr ..... .. .... .A.. & 0 . Various M.& 8 • F. &.A.. l 1r.·:t: Varlou, & D. J. .A.. & 0. J. & J. J. & J. Boston; Office. do do do do do do do do do do do do do do do do do do do do do do ---- Oct. 1, 1900 July 1, 1940 Feb. 1, 1933 Feb. 1, 1933 Oct. 15, 1891 Sept. 1, 1909 July 1, 1924 Jan. 1, 1926 Jan.26,1892 July 1, 1921 .A.pr. 1, 1923 .A.pr. 1, 1930 Sept. 1, 1928 Sept. 1, 1930 May 1, 1900 Jan. 1, 1900 May 1, 1920 ......... Juiy · 1; .i940 Jan: .i5: .i892 .A.p.'94&0c.'97 Var.'99to1908 Mch. 1, 1899 Feb. 1, 1937 Sept. 1, 1897 June 1, 1900 1904-5-7 June 1, 1920 .A.pr. 1, 1893 July 1, 1895 .Tnlv 1. 1924 55 miles. It uses 6 miles of the track of .t he .Rockvi-lle Extension into ITerre Haute; also leases the Indiana Biock Coal Road, 15 miles. On Empire & Dublln.-Hawkinsville, Ga., to Du'.:Jlin, 40 miles; completed, 32 miles, crossing East Tennessee Vire-i.nia & Georgia at Empire, Dodge County. · Interest on bonds guaranteea till July, 1893, by Empire Lumber Company. In December, 1880, Judge Roberts was made re-· ceiver. Stock, $320,000--par, $100. l<'rom July 1 to November 30,, 1890 (5 months), gross earnings were $16,422, against $6,627 in 1889; net, $8,653, against $3,315. In year 1889-90, gross, $2~,ift{8; net, $13,352; interest, $6,320; surplus, $7,032. ~ Erie & Pittsburg.-0wns New Castle, Pa., to Girard, Pa., 82 miles; branch, Dock Junction to Erie Docks, three miles; trackage (Lake Shore & Michigan Southern); Girard to Erie, 17 miles; total operated, 101 miles. Road opened in 1865. It was leased to the Pennsylvania Railroad for 999 years from March 1, 1870, at a rental of 7 per cent on :Stock and interest on the bonds, and the lease was transferred to the In October, 1890, a new mortgage for Pennsylvania Company. .$4,500,000 was executed, $3,262,000 being reserved to retire prior bonds and the balance for improvements, &c. The lease has been ,quite unprofitable to the lessees, the deficiency paid by them in 1884 !being $307,841; in 1885, $354,633; in 1886, $225,794; in 1887, $287,206 in 1888, $211,063; in 1889. $290,734; in 1890, $267,705. Eureka Sprlngs.-Seligman, Mo., to Eureka Springs, Ark., 1812 miles; projected to Harrison, Ark., 50 miles beyond. Stock, $500,000; par, $100. There is a traffic contract with St. Louis & San Francisco. In year ending June 30, 1890, gross earnings were $77,454; net,. $43,654; interest, $30,000; surplus $13,654. Eu1·opean & North Amerlcan.-0wns from Bangor, Me., to Vanceboro (State Line), Me., 114 miles. On August 31, 1882, a lease was made to the Maine Central for 99 years for $125,000 per annum, •equal to 5 per cent per annum on the stock, and assumin~ the bonded debt of $1,000,000 which is given under Maine Central. Evansville & Indianapolis.-( See Map Evansville d: Terre Haute) -Owns Evansville to Terre Haute, Ind. (via Worthington), 138 miles; branch 6 miles; leases branch to Brazil, 12 miles; total 156 miles. .A. eonsolidation in October, 1885, of three corporations, viz.: the Evansville & Indianapolis1 the Evansville Washington & Brazil and the Terre Haute & Southeastern RRs. Of the consolidated mortgage bonds, $800,000 are reserved to meet prior liens. The consolidated bonds are guaranteed by the Evansville & Terre Haute Co., which owns entire capital stock, $2,000,000, as also $547,000 of the other securities. From July 1, 1891, to Dec. 31, 1891 (6 months), gross earnings were $197,028, against $177,039 in 1890; net, $95,511, against $70,246. In year ending June 30, 1891, gross earnings were $328,278; net $133,266; deficit under interest, &c., $13,334. In 1889-90 gross $314,060; net, $130,765; deficit after interest, rentals and taxes, $28,582. -(V. 50 p. 107,525; V. 54, p. 119.) Evansville & Terre Haute.-( See Map.)-Owns from Evansville to Terre Haute, Ind., 109 miles; Fort Branch to Mt. Vernon, 37 miles; Sullivan County coal branch, Farmersburg to New Pittsburg, Ind., 11 miles. Proprietary Lines-Evansville Belt Railway, 10 miles; Evansville & Indianapolis (which see), 144 miles, and leased line, 12 miles; Evansville & Richmond Railroad, Elnora to Westport, 102 miles ; total operated, 425 miles. Has under construction, Evansville & Richmond eastern division, Seymour to Richmond 65 miles. The Rockville Extension, 23 miles additional, is leased to the Terre Haute & Logansv.ort and Chicago & Eastern Illinois for $12,000 yearly. Evansville & Terre Haute RR. was formerly the Evansville & Crawfordsville Railroad. The Evansville & Richmond bonds are endorsed with a guaranty of principal and interest. In 1890 a ten-year traffic contract was made with the Chicago & Eastern Illinois. There are also $30,000 Evansville & Chicago Railroad consols. Dividends since 1880 -In 1881, 412 _per cent; in 1884, 5; in 1885, 3; in 1&86, 4; from 1887 to 1890, inclusive, 5 per cent per annum; in 1891, 7; in 1892, .January, 2. A distribution of stock was announced in June, 1891, but subsequently in lieu of this the quarterly dividend was increased to 2 per cent. SeeY. 52, p. 939. Owns entire stock ef Evansville & Indianapolis, which see. From Jan. 1, 1891, to Dec. 31, 1891 (6 months), gross earnin"'s were $648,822, against $581,132 in 1890; net, $347,229, against $294,682. Fiscal year ends June 30. Last report in V. 53, p. 672. EARNINGS AND CHARGES. 1890-91. 1889-90. 161 Total miles operated. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 $ Gross earnings .................................... 970,551 ~r~::1~~~~e~::: ·.::: ~::: ~::: ·.::::: ~: ~ ·.:::::::::::: 4 ~tig~ Total. ............... . .......................... 525,312 Dednct- [nterest on debt ................................... 204,300 Dividends .............................. . ... . ....... 150,000 April 30, 1880, a lease to the Chicago. & Eastern Illinois was made for 999 years; terms, $75,000 per annmn and the assumption by the Chicago & Eastern Illinois of all rentals and taxes paid by Evansville Terre Haute & Chicago. Majority of the stock is owned by Chicago & Eastern Illinois. (V. 48, p. 827.) lJFarmvllle & Pourhatan.-0wns from Bermuda Hundred, Va., to Farmville, 89 miles, and branch to Eppes' Falls, 8 miles; total 97 miles. Completed March 3, 1890. Stock authorized: Common, $500,000; preferred, $500,000; par, $100. Findlay Fort Wayne & Western.-0wns road completed in August, 1891, from Findlay, 0., to Evansville, 0., on the Toledo St. Louis & Kansas City RR., 36 miles, and projected from Evansville west to Fort Wayne, Ind., -14 miles. Successor to the .A.m&ican Midland sold in foreclosure in June, 1890. Trustees of mortgage are Washington Trust Company of New York and Allen Zollars of Fort Wayne. Stock authorized, $18,000 JJer mile; outstanding $324,000; par $100. Fitchburg.-0wns from Boston, Mass., to Fitchburg, Mass., 50 miles; Greenfl:eld to Troy, N. Y. 85 miles; Vermont to Rotterdam Junction, 61 miles; Boston Barre & Gardner Railroad, Worcester to Winchendon, 36 miles; South Ashburnham, Mass., to Bellows Falls, Vt.i 54 miles; branches, 71 miles; Monadnock Railroad, 16 miles; tota owned, 372 miles; leases and operates-Vermont & Massachusetts Railroad, Fitchburg to Greenfield, 56 miles; other, 8 miles; total leased, 64 miles; total June 30, 1891, 436 miles, of which 155 miles double track. In 1887 the Fitchburg Railroad Company consolidated with the Troy & Greenfield and the Hoosac Tunnel railroads and purchased the Troy & Boston; and on October 1, 1890, it consolidated with the Cheshire Railroad. The Southern Vermont, 8 miles, was purchased in January 1891, for $175,000 of 4 per cent bonds. The State of Massachusetts owns $5,000,000 of the common stock. The preferred stock is entitled to 4 per cent dividends, then common and preferred share equally. The Troy & Boston issue of preferred stock has been retired. The holders of the Troy & Boston 7 per cent bonds for $1,200,000, due July 1, 1924, refused to co,me into consolidation agreement, and in December, 1890, the New York Court of Appeals, sustaining the p9sition of the bondholders, held that the Fitahburg was liable for the prin cipal and full interest of the Troy & Boston bonds. The Fitchburg Oompany has acquired a part of this issue of bonds, and now only $577,000 are outstanding in the hands of the public. See V. 53, p. 405. There are also out,standi1il.g $48,000 Mlonadnock Railroad 5 per cent bonds due Julv 1, 1897; a 4 per cent mortgage note of the H. T. D. & E. Co. for $500,000 due April 5, 1892. On July 1, 1891, there were . loans and bills payable amounting to $675,000. Dividends on preferred stock have been: In 1872, 2 per cent; m 1888, 1892, in cent; per 3¼ 1891, in ce;nt; per 2 2; in 1889, nil; in 1890, July, Jan., 2 per cent. July 1 to Sept. 30 (3 months), !?:ross earnin~s were $1,872,497; against $1,932,232 in 1890; net $630,013, agamst $701,693 ; sur. plus over charges, $291,085, against $370,259. Fiscal year ends June 30. The annual report for 1890-91 was m CHRONICLE V. 53, p. 405. It states that "the increase in expenditures is principally in conducting transportation. The cost of fu~l for locomotives increased about $87,000, due in part to the advance m price of that received by water during the winter and in part to the increased amount consumed. The large increase in payme_n~s for freight car mileage, about $81,000, was caused by the cond1t10n of traffic. Cars were not in demand on foreign roads during the latter part of the year and our own cars were idle while we were paying for the use of othefs that came to u s loaded with freight from the West. The cost of removin~ snow and ice was $21,000 greater than the previous ye3!r.'' In the following table the figures for 1887-8 are for the year ending September 30; all others for years ending June 30. INCOME ACCOUNT, 1887-88 .. 1888-89. 1889-90. 1890-91. 436 369 369 369 Total miles operated .... . $ $ $ $ Total gross earnings .... . 5,463,298 5,747,985 6,259,533 6,851,002 4,525,605 5,133,465 1,102,629 O:p. expenses and taxes .. 4,196,605 4,390,792 494,685 1,733,928 1,717,537 1,357,193 1,266,693 . Net earnings ......... 44,056 Per ct. of op. ex. to earns. 71·78 69·74 73·80 (excluding taxes) ..... . 538,741 Disbursements281,280 . 274,980 271,980 281,280 ..... ........ . 221,175 Rentals paid 869,068 799,153 762,806 680,388 on debt ......... . 165,000 Interest 20,216 8,264 27,875 58,715 Other interest ........... . 1S62,749 261,835 261,836 . ................ Dividends 386,175 $ 354,300 Total disbursements.. 1.282,219 1,071,961 1,341,23~ 1,727,012 152,566 lBalance, surplus ................................... 171,012 392,696 def. 9,475 285,232 -(V. 51, p. 51,908; V. 52, p~2, 7_~5, 831; V. 53, p. 672; V. 54, p. 119.) Balance, surplus ....... .. def.15,526 Evansvllle Terre Haute & Chicago.-Owns from Terre Haute -(V. 50, p. 36,174,207, 560, 833; V. 51, p. 84,171,206,276,414, 609, .iJnnction, Ind., to Danville, Ill., 49 miles; leases 6 miles; total operated, 777; V. 52, p. 322, 608, 718,795; V. 53, p. 256, 405.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ·:j< ...• https://fraser.stlouisfed.org ~z;.,. : _____.......,___ Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. · 0 N MAP OF THE ELGIN, JOLIET luff ~ AND EASTERN RAILWAY ~ CHICAGO AN OUTER BELT LINE CONNECTING ALL RAILROADS CENTERING AT CHICAGO .. GO E N R. o J.ilmARY, 1892.j RAILROAD STOCKS AND BONDS. ,. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E 'i' :i g MAP OF THE EVANSVILLE & TERRE HAUTE R. R. EVANSVILLE & INDIANAPOLIS R. R. EVANSVILLE & RICHMOND R. R. EVANSVILLE BELT RAILWAY. PEORIA, DECATUR & EVANSVILLE RY, Louisville., Evansville & St. Louis ConsoHdated, INVESTORS' SUPPLE,MENT. [VOL. LIV. Subscribers -will conCer a great Cavor by giving hnmedlate notice oC any-error discovered In these Tables, INTEREST OR DIVIDENDS. Bonds-PrinctRAILROADS. Miles Date isize, or - - - - - - - - - - - - - - - - - - pal,When DueFor explanation of column headings, &c., see notes of of Par ~~~~dlng Rate per When Wbt>"f" "P>1.:'7able, and by Sto~k;Y-Last . on first page of tables. Road. Bonds Value. 0 Cent. Payable ¥. nom. Dividend. ·1 J'li,tchburg.-( Concluded.) Boston Hoosac Tunnel & Western debentures ... Cheshire RR. plain bonds, $550,000 due 1898 .. c* ltint & Pere Marquette-Common stock ($3,500,000) Pref. stock, non-cumulative (for $6,500,000) ..... Holly Wayne & Monroe 1st M. sink. fund, end .. c Mortgage 6s of 1920, gold ($5,000,000) .......... c Consol. M., g. (for $10,000,000) $20,000 p. m .. c* Port Huron & Northwestern-1st mortgage ..... c 1st M.on Port. Huron Div.,gold,for $3,500,000.c* Equipm't bonds, $40,000 due annually Nov. l.c* Plorida Oent1·al & Pen.-lst M. gold, $5,240 p. m.c* Extension mort., gold, $5,226 per mile .......... . FondaJohnstown& Gloversville-lstM.,a.f.,notdn.c* Cons. M. for $500,000 ($300,000 res'd for 1st M.)c Fort ·W ayne &Jackson-Commonstock ...... '. ...... . Pref. stock (8 p. c.), 512 p. c. rental Lake Shore .. . Fort Worth & Denv. City-1st M., g., $18,000 p. m.c* Pan Handle RR. 1st mortgage ................... . Fort Worth & Rio Gr.-lst M., gold, $20,000 p. m.c* Galveston Harrisb. & S . .Antonio-lstM.,g.,landgr.c* 2d mortgage, Harrisb. and Houston to San Ant.c* West.Div. lstM.,g.,SanA.toEIPaso,636 m.&br.c* 2d mortgage (see remarks) .................... c* Galveston Houston & Hend. of 1882-lst M., guar .. c Georgia Oar.&: North.-lstM., g. (not drn.) guar.. c* Georgia Oo.-Tr'stb'dsis.f.,dr.at 110 aft.July,92,g.c* Georgia Midland & Gu 1-lst M., g. ($15,000 p.m.)c* Georgia Pacific-1st mort., $10,000 p. m.,int. guar. l Con. 2d mort., interest guar., ($9,000 per mile) .. c* Con. 2d income, non-cumulative, ($9,000 p. m.) c&r Equip. mort., guar. R. & D., g., s. f., subj. to call. Equip, M., pr. & int. gua. R.&D.,subjectto call.c* 625 625 65 285 384 218 241 575 54 10 26 98 98 450 145 225 671 671 50 268 99 566 566 566 1883 $1,000 $1,400,000 '76-'78 500 &c. 800,000 100 3,298,200 100 6,342,000 1,000 1,000,000 1,000 3,999,000 1880 1,000 1889 1,500,000 1879 104,000 1,000 2,976,000 1889 1,000 240,000 1887 1,000 3,000,000 1888 1,000 1890 285,000 1870 100 &c. 300,000 1881 100 &c. 200,000 100 436,132 100 2,291;416 1,000 7,963,000 225,000 1:000 2,888,000 4,756,000 '71-'80 1,000 1,000 1,000,000 1880 1,000 13,418,000 1881 1,000 6,354,000 1881 1,000 2,000,000 1883 1,000 5,360,000 1889 1,000 4,000,000 1887 1,000 1886 1,494,000 1,000 1882 5,663,900 5,097,500 1888 500 &c. 5,097,500 1888 500 &c. 1,000 1,342,000 1889 1,000 (1) 1891 Net earnings...... 757,654 756,650 746,836 329,194 422,500 332,939 449,470 366,421 558,104 380,520 (5p.c.)317,100 881,166 Total disbursem'nts 751,694 782,409 746,941 875,204 Balance for the year. sur. 5,960 def. 25,759 def. 105 sur. 5,962 -(V. 50, p. 421,560,621,662,833; V. 51, p. 51,240,494,569; V. 52, p. 350, 428, 7~0; v. 53, 1). 968.) Florida Cent1·al & Penlnsula.-Owns Jacksonville to Chatta· hoochee, 209 miles; Tallahassee to St. Marlrs, 21 miles; Fernandina to Tampa, 241 miles; Waldo to Cedar Keys, 72 miles; Wildwood to Orlando, 53 miles; Hart's Road to Jacksonville, 25 miles; Jacksonville Belt Line Railroad, 3 miles; other, 6 miles; total, 629 miles. The Florida Railway & Navigation Railroad in 1888 was sold and the present company organized. The common stock is $20,000,000, par $100; 1st preferred, 5 per cent cumulative, $1,582,· 000; 2d preferred, 5 per cent non-cumulative, $4,500,000; car trusts Au~st 27, 1891, 6s, $189,000 due in five years. The plan of reorganizat10n was in V. 46, p. 289. Trustee of first mortgage of 1888, Central Trust Company, of New York. In 1891 the Tavares Orland & Gulf RR. was absorbed, and the 11ew extension bonds were issued thereon. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $579,092, against $458,028 in 1890; net, $153,359, against $68,432. In year ending June 30, 1891, gross earnings on 577 miles were $1,· 341,878 ; net, $270,210; interest, $155,726; surplus, $114,484. In 1889-90 gross, $1,171,370; surplus over charges, $34,504. (V. 49, p. 300.) Fonda .Tohnsto-w-n & GloversvlJle,-Qwns from Fonda, N. Y., to Northville, 26 miles. The stock is $300.000; par, ~100. In year ending June 30, 1891, gross earnings, $228,593; net, $86,852; surplus over charges and 10 per cent dividend, $25,318. V. 53, p,1641. Fort Wayne & .Tack son ,-Owns from Jackson, Mich., to Fort Wayne, Ind., 98 miles. On August 24, 1882, leased perpetually to Lake Shore & Michigan Southern at a rental of $1~6,027, equal to 512 per cent on the preferred stock, and after 1887 any net earnings over 8 ier cent on preferred stock to be paid as dividends on common stock, .,ut not exceeding 2 per cent a year. p, Fort Worth & ·Denver City.-(See Map TJnionPac?°jic .venve1·& Gulf)-Owns from near Fort Worth, Texas, to 'l'exas State Une. 454 mHes, and operates Pan Handle RR., 15 miles. The Union Pacific Denver & Gulf owns $7,766,000 of thjs company's $9,275,000 stock. See abstract of mortgage, V. 45, p. 440 (trustee, Mercantile Trust Co. of New York.) There are$160,000 equipment bonds. Last annual report was in V. 52, p. 237. In March, 1891, $500,000new bonds were authorized by the Fort Worth & Denver Terminal Company. The stock of the Pan Handle RR. is owned, and its bonds (except $7,000) are held by the trustee of the U. P. Denver & Gulf consol. mortgage. In year ending October 31, 1890, gross earnings were $2,012,518; net, $763,120. Deduct :fixed charges, $484,080; balance, $279,040. In 1889, gross, $1,400,077; net, $512,128. CV. 49, p. 720,788: V. 50, p. 173: v. 51, p. 875; v. 52. l'. 237. 428.) "l•ort ,"l'ortbl& RlolGrande.-1.n 01ieration Fort Worth, Tex., to BrownwoC1d, 1J°L out 145 miles; completed in .August 1891. Tbe Une is fm1ber J:Tojectfd to iron fields in I.lano County.'i::ee v. 52, p. 81, 642. Mortga ge trustee is Central '.lrm,t C<'mpany New York. Stock autllori1ed, &3,f:00.0CO; 011tstanding, $2,ll 8,(lO(J; :rar, $JOO. From January 1 to Nov. 30, 1891 (11 months). gross earnings wer~ $296,ti53, against $168,398 in 1891; net. $112,500, against $56,325. r https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 5 7 5 5 5 5 7 6 do do do do N.Y., lstNationalBank N. Y., Mer. Ex. Nat. Bk. Boston, Intern'l Tr. Co. N. Y., Am. Exch. Bank. do do N. Y., St. Nich. Nat. Bk. do do Feb: .i5: .i89ZJan. 1, 1901 Oct. 1, 1920 May 1, 1939 Oct. 1, 189~ Apr. 1, 1939 Nov.l,'92to'97 July 1, 1918 Jan. 1, 1930' July 1, 1900· Apr. 1, 1921 M:·&··s. N. Y.,Farm:L.-&Tr.Co. g. J. & D. N. Y., Union Tr. & Bost. J. & J. Boston. g. J. & J. N. Y., H.B.Hollins & Co. g. F. & A. N.Y.,So.Pac.Co., 23 B'rd J. & D. do do g. M. & N. d0 do J. & J. ·········· A. & O. N. Y., Mercantile Tr. Co. g. J. & J. N.Y.,Merc.Tr.Co.&Balt. g. J. & J. , N. Y., 4th Nat. Bank. g. J. & J. N. Y., Central Trust Co. J. & J.I N. Y., 4th Nat. Bank. g. A. & 0. do do g. A. & 0. do do do do g. F. & A. g. M. & N. do do Sept.. 2,· "i891 Dec. 1, 1921 July 1, 1929 July 1, 1928 Feb. 1, 1910 June 1, 1905May 1, 1931 July 1, 1931 Apr. 1, 1913 July 1, 1929' July 1, 1937 July 1, 1926 Jan. 1, 1922 Oct. 1, 1923, Oct. 1, 1924. Aug. 1, 1903 May,'92-1906 g. A. & g. M. & A. & g. A. & M. & g. J. & g. .J. & J. & A. & 234 issi isss Deduct- Interest on debt...... Diviilends ............ F: .&. A. East Sag.: .Mich:, Treas. m J. & J. N. Y., Mer. Ex. Nat. Bk. 8 i871 Flint & Pere Marquette,-(SeeMap.J-Ownsfrom Monroe, Mich., to Ludington, Mich., 253 miles; 11 branches to East Saginaw, Fostoria, etc., 133 miles; Port Huron to East Saginaw, 90 miles; Port Huron to Sand Beach (3 feet), 70 miles; Palm to Port Austin (3 feet), 35 miles; Port Auron to Altmont (3 feet), 34 miles; Zion to Yale (3 feet) 12 miles: total operated, 627 miles, of which 151 are 3 feet gauge. Sold August 18, 1880, under the consolidated mortgage, and reorgan· lzed. In 1889 consolidated with certain branches (see V. 48, p. 222) and absorbed Port Huron & Northwestern (see V. 48, p. 260). The consoli dated mortgage of 1939 is a first mortgage on 98 miles of road. Truitee Central Trust Co. Dividends on preferred stock since 1880-In 1881, 212 per cent; in J.882, 6; in 1883 and 1884, 7; in 1885, 512; in 1886, 412; in 1887, 512; in 1888, 7 and 5 extra; in 1889, 612; in 1890, February 15, 3 per cent; August, 3 per cent; in 1891, Feb., 2 per cent; Aug. 15,112. From January 1 to Nov. 30, 1891 Ill months), gross earnings were $2,646,260, against $2,674,138 in 1890; net, $776,812, against$792,712; interest, rentals, etc., $531,027, against $503,553; surplus, $245,784, against $289,158. Annual report for 1890 in V. 52, p. 760. In the statement below the Port Huron Divisiou is included only in 1890. · 1887. 1888. 1889. 1890. $ $ $ $ Total gross earnings.2,572,937 2,403,074 2,370,133 2,923,575 Oper'ng exp. &taxes.1,815,283 1,646,424 1,623,297 2,042,409 M. & S. N. Y., Kountze Bros. Sept. 1, 1913J. & J. Boston, Fitchburg RR. July 1, '96-'98 5 6 1· 6 5 5 6 7 5 6 5 5 5 6 6 5 5 5 6 0. N. 0. 0. N. J. J. J. 0. In 1890, road being under construction, gross earnings were $194, 638; net, $91,238; .fixed charges, $89,203; surplus, $2,035.-(V. 51, P · 569, 680; V. 52, p. 81, 351, 642.) Galveston Harrisburg & San Antonio.-( See Map of Southern Pacific.)-Owns from Houston, Tex., to San Antonio, Tex., 217 miles; LaGrange Extension, 28 miles; branch, 8 miles; . leases 12 miles; total, 266 miles. Western Extension, San Antonio to Rio Grande River, 636 miles; Eagle Pass Branch, 35 miles. Grand total, 937 miles. Operated by the Southern Pacific Company, which owns all but $586,212 of the $27,093,012 stock (par, $100). The first mortgage covers 256 miles of old road and 1,076,331 acres of land valued at about $1,467,000. It has a sinkin~ fund of 1 per cent, but it is optional with bondholders to surrender their bonds if drawn. The Western Division second mortgage 6s are held by the Southern Pacifl.o Company and by large holders of Southern Pacific securities, who agreed not to collect interest after July 1 1889, unless it should be currentlyearned. The interest charges are thus reduced annually by $381,240 .. There is also $101,719 Texas school debt outstanding. Floating liabilities Jan. 1, 1891, $2,485,076; floating assets, $632,695. From January 1 to Nov. 30, 1891 (11 months), ~ross earnings were $4,130,584, agst. $3,950,756 in 1890; net, $1,110,359, a~st. $879,263 in 1890. In 1889 gross earnings were $3,937,291; net, $816,957. In 1890 gross, $4,285,678; net, $917,945; deficit under charges, $214,736 Galveston Houston & Henderson oC 18 82.-0wns from Galvest~n, Texas, to Houston, Texas, 50 miles. The road was sold in foreclosu're December 1, 1871, and again August 1, 1882. Leased for 99 years to the International & Great Northern RR. Co. and bonds guaranteed by that company. Stock, $1,000,000; par, $100. In year endiug Oct. 1, 1890, gross earnings were $418,457; net, $69,116. In 1888-89 gross $381,922; net, $36,489. In calendar year 1888 gross, $372,699 ; net, $28,554; rental of track. $139,455 ; total n et income, $168,010; interest, &c., $106,063; surplus, $61,947. Geor 0 ·ia Ca1·0l1na & Nort,bern.-In progress from Monroe,N. C., to Atlanta, Ga., 268 miles, of which 165 miles are com · pleted and the balance under constructio:u. The line is part of the" Seaboard" system, and the bonds are guaranteed (by indorsement on each bond) by the Seaboard & Roanoke and Raleigh & Gaston railroad companies. They cannot be redeemed before maturity. The Mercantile Trust & Safe Deposit Company of Baltimore is trustee of the mortgage; see abstract of same in V. 49, p. 239. Stock authorized, $1,000,000; outstanding but not paid in, $491,933; par, $100. R. F. Hoke,. Athens, Ga., President of the company. (V. 50, p. 138, 313, 451.) Georgia Company.-Tltis company was formed in 1887 to control the Georgia Central Railroad & Banking Company, of whose stock it owns $4,000,000, all pledged to secure its trust bonds. Its own stock of $12,000,000 ia all owned by .Richmond & West Point Terminal, and deposited as part security for that company's collateral trust of 1889. Richmond & West Point Terminal also owns $3,447,000 of the Georgia Company's collateral trust bonds. Georgia Midland & Gulf.-Owns from Columbus, Ga., to McDon ough, 99 miles. Completed in September, 1887. Operates Columbus Southern, Columbus to Albany, Ga., 88 miles. Incomes, non•cumulative, $105,000. Stock authorized, $2t000,000; outstanding, _$1,245,000; par. $100. Car trusts, $53,900; aue $818 monthly. In year ending June 30, 1891, gross earuings were $212,222; net over expenses and taxes, $76,434; interest, $89,460; taxes, $13,0i6 ; deficit, $19,272. New York office, 7 Nassau Street. Geo1·gia Pacific.-( See Map of Richmond & West Point Terminal.)Atlanta, Ga., to Greenville, Miss., 458 miles; Woodlawn to Bessemer, Ala., 19 miles; small branches, 18 miles; Deer Creek branch (three-feet gauge), 22 miles; other lines, 48 miles; total, 566 miles. In Nov., 1888, leased to the Richmond & Danville for 20 years from January 1, 1889, (with privilege of renewal), the rental to be net earnin~s, and the Rich· mond & Danville agreeing to make up any deficiency m these to meet fixed charges, all such advances, however, to be a preferred charge next ahead of the income bonds (see V. 47, p. 744). • On June 1, 1891, leased the Central Railroad of Georgia (which see), guaranteeing 7 per cent on stock. Stock is $8,555,000 (par $100), and $4,378,432 of it is held by the Richmond & West Point Term. Co., which owns also $1,397,621 income 5s of 1888, and has deposited them, as well as the stock, as security for its collateral trust of 1889. The second consolidated mortgage (trustee,. Central Trust Company) secures $5,400,000 second mortgage bonds,. and also, subject to these, $5,400,000 second mortgage non•cumulative· incomes, both issued at $9,000 per ile. The equipment mort~agebonds of 1889 and 1891 are yayable by a sinking fund and are guara,nteed as to principal and mterest by endorsement on the bonds by Richmond & Danville. There are car trusts, payable at the Atlan ticTrust Company, New York City, for which provision is made unde:i: the equipment mo1,tgage. For the 4 months J'uly 1 to Oct. 31, 1891, the gross earnings were· $713,896, against $647,114 in 1890; net $162,739, aµ-aim,t a deficit of $34,091 in 1890. · ~ In year ending June 30, 1891, gross earnings were $1,889,315;. operating expenses, $1,902,132; deficit, $12,816; charges, $867,580;: improvements and betterment, $426,992; extraordinary expenditures for repairs chargeable to previous years, $202,141; total deficit, $1,509,531, In 1888·89 _gross. $1,330.698: net. i;;147,244. (V. 49, p. 235;. v. 52, p. 462, 862.,_ ~ ~ Flint ~ P0rn Mrrrqu0tt0 'B urke's .Falls S h(l,1.0a,M ~ ~ z0 ~ 0 z~ 00. ~ 0 0 E-4 00. 0 ~ 0 ~ I"'"'"! ~ ~ ,--, ~ .... CX) 1M' ~t;) ~ • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis eo INVESTORS' SUPPLEMENT. [VOL. LIV. Subscribers -will conCer a great Cavor by giving lln1nedlate notice oC any error discovered la these Tables. RAILROADS. l!or explanation of column headings, &c., see notes on first page of tables. INTEREST OR DIVIDENDS. Bonds-Prlnoi Miles Date Size, or Amount pal,When Due. of of Par Outstanding Rate per When Where Payable, and by St<?cks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. ---------------------1--- --- --flkorgia Railroad cl Bankincfo Oo.-Stock ............ Bonds, not mort. ($300,0 mature in 1922).c*&r 307 .... Bonds, notmortg~e .............................. r '6eorgia Southern ti ia.-lstM., g.($12,000 p.m.)o* 285 (ira:rtd. .Rafa:s ti Indiana-Stock ................. . o* 1st M., and 5gant, g., s. f. (guar. by Pa. RR.) .. o* 335 lstM.,g.,($5 5,000 are land fant s. f. not drn).o* 335 '2nd mortgage, redeem. at 10 till Aug. 1, 1894.c* 367 <General mortgage for $13,000,000 ............ o &r 367 Mackinaw loan ..................................... Muskegon G. R. & Ind. RR. 1st M. traf. &uar ... c* "37 •eat Northern--Stock, pref. (no com. stoc issued) .... St. Paul Minn. & Man.-Stock (rental 6 p. c. in gold) .... St. P. & Pac. 2d M. (1st on St. Paul to Watab ..... 76 tit. P. Min. &Man. lstM.l.gr., s.f.,g.,dr'nat105.c* 656 2d mortiage, gold (does not cover lands) ..... o* 656 Dakota xtension lstmort.,iold ($12,000 p.m.) 473 .Consol. mort., gold ($13,344, 00 are 6s) ..... c&r 2,426 Montana Exten. lstM.,gold ($25,000p. m.).c*&r 411 Pacific Extension M. for £6,000,000, gold .. o*&r .... Minnea-¥.i: Un.RR.1st M.,gold,,u. ($550,000 are 5s) East of inn. lstM., g.,,u. ( 50,000 p. m.).c*&r ·;.;o Montana Cen. 1st M., g.( 6,000,000 are 6s)gu.c&r 261 ·wrnmar & 8. Falls bonds ........................... ..... :Dul. W. & Pac. bonds .............................. .... 77&80 1887 1887 i869 1869 1884 1884 iss6 .... i862 1879 1879 1880 1883 1887 1890 1882 1888 1887 .... .... $100 1,000 1,000 1,000 100 1,000 1,000 1,000 1,000 1:000 100 100 1,000 100 &c. 1,000 1,000 1,000 l,000&c £100&c $1,000 1,000&c l,O00&c ..... ...... $4,200,000 Q.-J. N.Y.,Am.Ex. B'k &Aug. 2~ 2,300,000 6 J. & J . do do 200,000 do 5 J. & J. do 3,420,000 g. J. & J. Macon, Ga., Co.'s office. 4,986,081 3,934,000 7 g. J:·&/.J. N. Y., Winslow, L. & Co. 1,441,000 do do g. A. & 0. 3,000,000 M.&N. do do 4,336,000 do 5 M.& 8. do 275,000 6 ...... ··········L. & Co. 750,000 5 g. J. & J. N. Y., Winslow, 20,000,000 Q.-F. N. Y. Office, 40 Wall St. 114 20,000,000 Q.-F. do 112g. do 366.000 do do 7 J. & J. 4,000,000 7 g. J. & J. New York and London. 6 g. A. & 0. do 8,0~,000 do 5,676,000 M. & N. New York, 40 Wall St. 28,443,000 412 &6 g. J. & J. do do 7,616,000 4 g. J. & D. do do £3,000,000 4 g . J. & J. N.Y.&Lon.,BaringBros $2,700,000 5 &6g. J. & J. New York, 40 Wall St. 4,637,000 5 g. A. & 0. N.Y.40Wall; Bos.,Lee,H 8,000,000 5 &6g. J. & J. New York, 40 Wall St. . .......... 2,625,000 6 1,375,000 . .....· 1 6 ···· -----····· i i Jan. 15 1892 '97,1910,1922 Jan. 1, 1922 July 1, 1927 t· 1; ·i899 ooi: · Oct. 1, Nov. 1, Sept. 1, 1899 1899 1924 Juiy · i·,· ·i926 Feb. 1, 1892 Feb. 1, 1892 July 1, 1892 July 1, 1909 Oct. 1, 1909 Nov. 1, 1910 July 1, 1933 June 1, 1937 July 1, 1940 July 1, 1922 Apr. 1, 1908 July 1, 1937 ......... --······ Georgia Railroad & Banking Co1npany.-Owns from Manitoba, via Breckenrld(J'e, 413 miles; Crookston Junction, Minn., te Augusta, Ga., to Atlanta, Ga., 171 miles; branches to Washington Great Falls, Mon., 782 mfies; Breckenridge, Minn., to Langdon, Dak., .:and Athens, 58 miles; Macon & Au~sta Railroad (proprietary road), 206 miles; Evansville, via Tintah Junction, to Ellendale, Dak., 136 <Jamack, Ga., to Macon, Ga. 1 74 miles; trackage, 4 miles; total, 307 miles. Owns also one·half lihe stock of the Western Railway of Alabama (the Central Railroad of Georgia owning the other half), and has a one-fifth interest in the Port Royal & Augusta and a thirty.five one hundredths interest in the Atlanta & West P. (See those companies.) This company, besides ownin$ the railroad property indicated above, has a banking department. m April, 1881, it leased its railroad (307 miles) and its interest in the other railroad companies for 99 years to W. M. Wadley and associates, for the Central of Georgia and the Louis· ville & Nashville railroads, at $600,000 per year. Dividends since 1880-In 1881, 912 per cent; in 1882, 10¼; from 1883 to 1887, 10; in 1888, 10~; from 1889 to Jan., 1892, both in• -elusive, at rate of 11 per cent per annum (234 per cent quarterly). In year ending March 31, 1891, company's income was: From rental, -etc., $600,082; dividend (No. 5) from bank, $50,000; total, $650,082; deduct interest, etc., $177,031; dividends paid (11 per cent), $462,000; balance, $11,050. Net earnings of bank for year were $66,429 and -total bank surplus March 31, 1891, after payment of $50,000 dividend was $195,319. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings of the railroads were $744,087, against $797,650 in 1890; net, $200,986, against $306,354. In year ending June 30, 1891, gross earnings were $1,891,692; net, $658,475; other income, $60,619. In 1889-90, gross, $1,683,636; net, ·$ 504,865. Deficit to lessees on lease was in 1888·9 , $21,066; in 1889·90, $33,959. Profit in 1890·91 was $118,679. Balance due lessees June 30, 1891,$600,976.-(V. 51, p. 537; V. 53, p. 289.) Georo-fa Southern & Florlda.-Owns from Macon, Ga., to Palatka, Fla., 285 miles, and operates the Macon & Birmingham ,<which see), 95 miles. Completed in January, 1890. Built by the Macon .Construction Co. In 1891 Mr. Willis F. Sparks, President of this com• pany, was appointed its receiver, and also receiver of the Macon Con11truction Company. Being unable to pay the July coupons out of .earnings, these having been expended for various purposes, the -Court gave him permission to borrow funds to meet this interest, .and in November, 1891, the overdue coupons were paid. (See V. 52, p. 796; V. 53, p. 95.) Trustee of mortgage is the Mercantile Trust & Deposit Co. of Baltimore. Stock is $4,275,000; par, $100. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were :$326,505, against $339,372 in 1890; net, $127,046, against $100,926. In the year ending June 30, 1891, gross earnings were $773,863; net -over expenses and taxes, $240,501; surplus abo,e charges, $58,129. -(V. 51, p. 609; V. 52, p. 350, 427, 795; V. 53, p. 95, 289. miles; numerous branches (to Aberdeen, Hutchinson, Watertown, &c.), 878 miles; total, St. Paul Minneapolis & Manitoba, 2,808 miles. Also owns the entire stock of the following lines, but keeps earnings separ• ate, their income appearing in t.he statement of earnings be1ow only as revenue from stocks and bonds owned or as other receipts : The Willmar & Sioux Falls, Willmar, Minn., to Sioux Falls, Dak., 147 miles; the Duluth Watertown & Pacific, Watertown, Dak., to Huron, Dak., 70 miles; the Minneapolis Union, 2·5 miles; the Eastern of Minnesota, 72 miles; the Montana Central, Great Falls, Mon., to Butte, Mon., 261 miles. including branches; total, 567 miles. Grand total, 3,375 miles. · Extension to Pacific Coast, 780 miles, is in progress, and has been completed to the Washington State line. In September, 1891, there was added fifty.four miles to this system by the absorption of the Wadena & Park Rapids Railroad. The road extends from Eagle Bend to Park Rapids, and opens up a timber sec· tion. In the same month were also opened a line from Monarch to Barker, Mon., reaching a rich mining district, and a line in Washington from Seattle, north to Westminster. This is a Minnesota corporation which in February, 1890, leased the St. Paul Minneapolis & Manitoba for 999 years, assuming its funded debt and guaranteeing 6 per cent per annum in ~old on its $20,000,000 stock. The Great Northern's authorized capital is $40,000,000, of which $20,000,000 is preferred 6 per cent non•cumulative, and this only ls issued at present. The Manitoba stockholders were otfered the privi• lege of taking it at 50, the remaining 50 per cent being paid by a trans• fer to the Great Northern of all the securities owned by the Manitoba Company, amounting to ovt\r $22,000,000. With the proceeds of sale of the Great Northern's preferred stock, the Manitoba's collateral trust bonds were paid off. The securities acquired by the Great Northern have been placed in trust to secure the unity of the system. (See V. 49, p. 435; V. 50, p. 205.) No increase of the preferred stock can be made without the consent of the holders of three·fourths the preferred stock outstanding. The land sales for year ending June 30, 1891, were 110,951 a.ores, for $814,092, and 256 town lots, for $14,926. The net amount due on land contracts June 30, 1891, was $1,222,720; lands unsold, 1,636,656 acres. Dividends on Great Northern stock: November, 1890, 1 per cent; in 1891, 4~; in 1892, February, 1¼. . Price of preferred stock-In 1890, 60'@86; in 1891, to Nov. 20 in• elusive, 72W11112. Dividends on Manitoba stock since 1880: In 1881, 3 per cent; in 1882, 9; in 1883, 8; in 1884, 712; in 1885 and since, 6 !)er cent yearly. The consolidated mortgage of 1883 is for $50,000,000, of which $19,426,000 were reserved to pay prior liens. The mortga~e on the Montana Extension is for $25,000,000, to provide for exrensions, $15,000 per mile being allowed for second track. See abstract of mortgage in V. 45, p. 342; Central Trust Company of New York, trustee. The mortgage, for £6J..000,000 on the Pacific extension (trustee of mortgage Central Trust uompany of New York), provides for the issue of bonds at the rate of £6,000 per mile in Montana and £7,000 per mile west of Montana. See abstract of mortgage, V. 52, 'J?· 82. The Eastern Railway of Minnesota runs from Hmckley northward 70 miles, to a point near Duluth; the mortgage covers equipment, terminals and elevators. The Montana Central bonds were issued on several roads (V. 46, :p. 125). The Manitoba guarantees both these issues, principal and mterest, and the Great Northern assumes the guaranty. · From July 1, 1891, to Au_~- 31,, 1891 (2 months), gross earnings of the St. Paul Minneapolis & Manitoba on 3,035 miles were $1,619,978, against $1,467,291 on 3,032 miles in 1890. For the same period (2 months) gross earnings of the total Great Northern system on 3,341 miles were $1,987,759, against $1,799,810 on 3,282 miles in 1890. Fiscal year ends June 30. The annual report was published in the CHRONICLE, V. 53, p. 792, 797. The following table shows earnings of the lines leased from St. Paul Minneapolis & Manitoba Company, and the Great Northern income account for 1890·91: · 1830·91. 1889·90. 1888·89. 1887·88. Earnings$ $ $ $ 1,774,568 1,876,960 1,869,865 Passenger.......... 1,823,262 7,628,011 6,915,167 6,075,637 Freight............. 7,277,333 776,743 684,265 641,064 Mail, exp., r'nts,&c. 461,310 Grand Rapids & Indiana.-( See Map of Pennsylvania RR.JOwns from Fort Wayne, Ind., to Mackinaw City, 367 miles; Manistee Branch, 21; other branches, 40 miles; total owned, 428 miles; leases, and operates Cincinnati Richmond & Fort Wayne RR. 86 miles; Trar ,v erse City RR., 26 miles; Muske11:on Grand Rapids & Indiana RR., 37 ·m iles-149 miles. Total, 577 miles. The Grand Rapids & Indiana RR. is operated in the interest of the .Pennsylvania RR. Co., and $3,934,000 of the 1st mortgage bonds were ,guaranteed by that company. First mort11:age land grant bonds may be {>ought (not drawn) at 110 out of proceeds of land sales. There was in -the sinking fund for them January 1, 1891, $2,752,780 cash and bills :receivable. They are replaced by 5 per cent bonds issued. The Muske.gon Grand Rapids & Indiana bonds have a traffic guarantee applicable "to their interest payment. Pennsylvania RR. owns all the 2d mortgage bonds except $300,000 held as collateral for the Mackinaw loan. Of the 5 per cents outstanding the company itself on January 1, 1891, held $637,000. There is a real estate mortgage for $48,250. The company has a land grant and sold in 1890 38,690 acres for -$316,851. The lands unsold on January 1, 1891, were 329,844 acres. The assets $696,628 biUs receivable, etc., and $2,056,152 cash. From Januaryl to Nov. 30, 1891 (11 months), gross earnings of the whole system were $2,824,196, against $3,055,931in 1890; net, $811,· "755, a~ainst $1,029,023; interest, rentals, eto., $1,100,389, against -$954,489; deficit, $288,434, against surplus of $74,534. Report for 1890 was in V. 52, p. 898, showing results as follows: EARNINGS AND EXPENSES. 1887. 1888. 1889. 1890. Miles operated....... . 403 409 4.08 428 ·Gross income.......... $2,367,530 $2,232,788 $2,291,166 $2,602,415 Tot. gross earns. Netoverexp's &taxes $850,533 $704,191 $766,714 $859,382 E rpenses·I nterest on bonds..... $715,600 $719,428 $73'7,425 $739,700 Int. on :floating debt.. . . ..... . 47,443 54,553 58,630 Maint. of way, &c . . Rentals and miscel... 8,646 17,138 3,168 30,760 Maint. of cars ..... . Motive power ..... . - - - - Transportation .... . Total............... $724,246 $784,009 $795,146 $829,090 General. ...... . .... . >Balance ............. sur.$126,287 def.$79,817 def.$28,433 sur.$30,292 Taxes . ..... . ....... . -(V. 50, p. 799; V. 52, p. 426, 898.l Great Northern.-(See Map.J-Operates under lease the St. Paul Total.·········· 'Minneapolis & Manitoba Railroad, extending from St. Paul, Minn., via Net earnings• · ···· • ~arnesville to Emerson, Manitoba, 392 miles; Minneapolis to Gretna, P.c.of exp. to earns. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9,561,905 8,586,566 9,374,000 10,281,714 1,445,869 497,766 1,757,198 998,159 457,073 263,921 1,133,372 4.24,426 1,530,231 1,197,413 466,033 248,591 776,506 487,517 1,478,640 1,242,490 531,620 274,351 1,243,001 513,670 1,628,645 1,302,052 476,587 299,651 5 , 419 ,986 4,141,919 56·68 5,000,066 3,586,499 58·23 4,791,124 4,582,876 51·11 5,463,606 4,818,108 53·14 .• \ t~~J;···.: ,. C £:!2D tAN :'J -- cl_'.'.._ _,,Ir - 7 .,J ,+ool .,, b 1q~ 4', ai ~ ~ ~ r/.l ~ 0 0 ~ r/.l ~ 0 ~ ~ ~ ,-, ~..... i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ha..,..; 1">'0 CONTINUATION OP f-r Great Northern Railway 1A; GREAT NORTHERN RAILWAY SYSTEM I ....._ MAP OF THE Reduced Sca"k ':" .' INVESTORS' SUPPLEMENT. 62 . • · [VOL, UV. Subscribers -will confer a great Cavor by giving inunediate notice oC any error discovered in tl1.ese Tables. RAILROADS. INTEREST OR DIVIDENDS. ronds-Prlnel Miles Date Size, or Due. .A.mount Rate per When Where Payable, and by pal,When of Par Outstanding Stocks-Last For explanation of column headings, &c., see notes of on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. ·-- --- Green Bay Winona & St. Paut-lst mortgage ...... c Funded coupon bonds ............................. 2d mortga~e income bonds, non-cumulative .... r Hannibal & t. Joseph-Con. M. for $8,000,000 ... c* Han"isb. Portsm'th Mt. Joy & Lanc.-Stock,7p. c.gu. 1st mortgage (ext'd in 1883), int. guar. Pa. RR. .r Hartford cf: Connecticut Western-Stock ............. 1st moryga§e ....................................... Housatonic- tock, common ......................... Preferred stock, 4 per cent non-cumulative ...... Consol. mortgage, not payable till 1910 .......... New consol. mortgage (for $3,000,000) ... ..... . c* Hoiist. East & West Texas-lstM .. ,gold($71000p.m.) 2d mortga e, land grant, $5,000 per mile ...... c* Houst&Tex. ent.RR.-lstM.l.gr.,g.,red. atllO.c*&r Consol. M.,landgr.,gold, int.guar. by So.Pac.c*&r G en. mort.. go1d, interest guar. by So. Pac... . c~&r Debent., prin. and int. guar ................... c*&r Debent., prin. & int. \uar ........... ..... ..... c•·&r Httd. Sus.Bridgecf:N.E. y.-lstM.$10,000,000.c*&r H tmtingdon cf: Broaa Top-Common stock .......... Preferred stock, 7 per cent, non-cumulative ...... 1st mortgage, extended in 1890 ................... 2d mortgage (int. only payable in gold) ........... 3d mortgage, consolidated ........................ Butr,hinson & Southern-1st mortgage .... .......... 8 219 ·-·- 219 292 54 54 ---- 104 ··-· 0 74 164 192 192 463 463 463 .... .... 0 64 64 64 74 64 .... 1881 $1,000 $1,600,000 500 280,830 1886 1881 1,000 3,781,000 1881 1,000 7,999,000 50 1,182,550 ---700,000 1853 500 &c. 2,635,700 100 ---608,000 1883 1,000 35,000 .... 100 ..... 100 2,867,800 100,000 1880 500 &c. 1,000 2,839,000 1887 1,344,000 1,000 1878 1,000 750,000 1883 8,064,000 1,000 1890 1,000 3,919,000 1890 4,305,000 1890 1,000 705,420 1890 --·· 411,000 1890 (1) 1:0<:io 1888 1,371,800 50 ...... 1,990,500 50 416,000 is54 500 367,500 500 1857 1,497,000 1,000 1865 400,000 1889 ---- GREAT NORTHERN R.A.ILR.A.OD INCOME .A.CC(,UNT 1890-91. ReceiptsNet earninge ............................................. . ..... $4,818,108 Interest on bonds owned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 285,704 Dividends on stocks owned.................................... 21,036 Rentals of leased lines......................................... 185,705 Interest and exchange......................................... 118,586 Bills receivable................................................. 198,480 Other income................................................... 114,424 Total ................... . .................................... $5,742,043 DisbursementsRent of St. Paul Minn. & Man. RR............................ -4c,084,672 ~l~~rrat~~tt ~~~ _c.~~~!::::::::::::::::::::::::::::::::::::::: f~:~gg 6 Total disbursements ........... .. ....... ..... .............. $4,753,422 Surplus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $988,621 -(V. 51, p. 240,537, 658,679,682,787; V. 52, p. 82,203,351,973; v. 53, p. 95, 126, 156, 368, 407, 777, 792, 797, 880.) •Green Bay Winona & St. Paul,-Owns from Green Bay, Wis., to Marshland, Wis., 209 miles; branches, 7 miles: leases-Plover to Steven's Point, 6 miles; total, 222 miles. .A. reorganization of the Green Bay & Minnesota, sold in foreclosure March 12, 1881. Preferred stock is $2,000,000, 7 per cent, and common stock $8,000,000; par $100. On February 1 1885, default was made on the first mortgage interest, and in 1886 bondholders consented to fund the three overdue coupons and the company resumed payment, but defaulted August, 1889. .A plan for reorganization without foreclosure and for building a Southwestern Extension was brought out in July, 1889, the incomes paying an assessment of 10 per cent and the stock of 5 per cent, and receiving therefor bonds and stock of the Winona & Southwestern Railroadwhich see. In August, 1890, the Farmers' Loan & Trust Company, trustee of the first mortgage, was appomted trustee in possession to facilitate the plan of reorganization, which is expected to be carried through in the near future. See V. 51, p. 240. In 1890 gross earnings were $384,104, against $296,844 in 1889. In year 1889-90 gross earnings were $330,319; net, $62,747; interest, taxes, &c., $141,376. Total deficit to June 30, 1890, $219,593. In 1888-89 gross earnings were $302,105; net, $46,698; taxes, interest, &c., $133,949. Samuel Sloan. President, New York. (V. 46, p. 254; V. 47, p. 563; v. 49, p. 113, 145, 341, 654; v. 51, p. 276; v. 53, p . 712.) Hannibal & St, .Toseph,-Owns from Hannibal, Mo., to St. Joseph, Mo., 206 miles; branches-Cameron to Kansas City, 53 miles; St. Joseph to Atchison, Kan., 20 miles; Palmyra to Quincy. ill., 13 miles; leases, 3 miles ; total operated, 295 miles. Owns bridge at Kansas City. Stock-Common, $9,168,700; preferred, $5,083,024; par, $100. Chicago Burlin~on & Q.uincy RR. Co. owns $14,243,100 stock. Preferred stock has pnor right to a non-cumulative dividend of 7 per cent; then common to 7 ; tnen both share. Dividends on preferred stock since 1876-In 1880, 3 per cent; in 1881 and 1882, 7; in 1883, 3; in 1887, 7; in 1888, nil; in 1889, 5; in 1890 $1 93 per share. The income accounts have shown as follows : Surplus over charges: In 1890, $102,071; in 1889, $276,732; deficit in 1888, $46,091; surplus, $397,562 in 1887. (V. 53, p. 325.) Harrisb urg Portsmouth lliount .To-,. & Lancaste1·.-0wns from Dillerville, Pa., to Harrisburg, Pa., 36 ID.lles; branch, MiddletoWll., Pa., to Columbiai, Pa., 18 miles; total operated, 54 miles. Leased to the Pennsylvania RR. Co. for 999 years from January 1, 1861, the rental being 7 per cent on the stock and interest on the bonds. Stock, $1,182,550; par $50. Forms part of main line of Pennsylvania RR. Hartcord & Connecticut Western.-Owns from Hartford, Conn., to Rhinecliff, N. Y., 108 miles. On May 25, 1881, bondholders reorganized, and stock in new company issued for bonds. In 1888 a controlling mterest in the road was P.urchased by parties interested in the Poughkeepsie Bridge, by which it forms an all-rail route across the Hudson River. On August 30, 1889, a lease for one year was made to the Central New Eni.land & Western, the rental payin"' charges and 2 per cent per annum on the stock, and in March, 1890, 'the lease was extended on the same terms till August, 1939. There are still outstanding $84,300 Connecticut Western RR. 7 per cent bonds, due 1900, convertible into stock at 60 per cent. In 11 months ending August 31, 1889, gross earnings $325,574; net, $52,669; surplus over fixed charges, $11,306. No later earnings reported. (V. 50, p. 422.) Housatonic.-Owns Bridegport, Conn., to State Line, Mass., 74 miles ; Brookfield Junction to Dan bury, 6 miles; West Stockbridge Railroad, 3 miles (stock owned) ; Botsford to Huntington, 10 miles. Leases-Berkshire Railroad, 21 miles; Stockbridge & Pittsfield Railroad. 23 miles; Danbury & Norwalk Railroad, Danbury to Wilson, Conn., 26 miles, and branches, 10 miles; New Haven & Derby, 17 mileA; total .operated, 190 miles. Controlled in interest of N. Y. & New England. Common stock iA exchangeable for the new preferred stock on uasia -of one and one half shares of common for one of new preferred. There are also $61,000 5 per cent Danbury branch bondA due Octo berl,1912,. redeemable October 1, 1892; and Sept. 30, 1891, rollinO' stock certificates $200,000 and certificates of indebtedness, $205,500. In Sep-tember, 1886, the Housatonic leased the Danbury & Norwalk Railroad lor 99 years and in July, 1889 leased New Haven & Derby. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 6 8 6 312 4 1 5 ---- F. & .A.. Coups. Feb.,'89, bought. F. & .A.. Coups.of .A.ug.,'89, b'ght None ever paid. M. & S. N.Y.,Bk.ofNo ..A.merica. J. & J. Phila., Company's Office J. & J. do do F. & .A.. N. Y.,Cent.N.E.&West. J. & J. Hartford. M.&N. . ...... ----- o. ------------------- I .A.ug. Feb. 1, 1, 1911 1906 May 1, 1911 Mch. 1, 1911 Jan. 10, 1892 July 1, 1913 Feb. 20, 1892 July 1, 1903 ........ 1; Apr:· 'i910 Bridgeport, Conn. g. M.&N. N. Y., Farm. L. & Tr. Co. Nov. 1, 1937 g. M.&N. Last coup. paid May,'86 1898 J. & J. Jan. 1, 1913 g. J. !.-; J. N.Y., Office Mills Buildg July 1, 1937 g. A. & 0. do do Oct. 1, 1912 g. .A.. & o. do do .A.pr. 1, 1921 A.. & o. do do Oct. 1, 1897 6 A. & 0. do 4 do Oct. 1, 1897 5 g. F. & .A.. New York and London. Feb. 1, 1938 2 .Am. Life Bldg. Jan.25,1892 ----- Phil. Of., do do Jan.25,1892 312 J. & J . 4 g. .A.. & o. do do Sept. 30, 1920 do do 7 g. F. & .A.. Feb. 1, 1895 .A.. & 0. do .A.pr. 1, 1895 do 5 M.&N, 5 Nov. 1, 1919 ·········· 4 5 7 6 5 6 4 .A.. & Dividends on preferred stock since 1876.-From 1877 to 1884, 8 per cent; in 1885, 5; in 1886, 6; in 1887, 3; in 1888 and since, nil. For year ending September 30, 1891, gross earnings were $1,541,795, a"'ainst $1,520,124 in 1889-90; net, $524,506, against $607,179; surpfus over taxes, rentals, interest, &c., $95,780, a_itainst $193,075. (V. 50, p. 276,451,741, 908;V. 53, p. 407; V. 54, p. 32,) Houston East & West Texas.-(Narrow gauge, 3 feet.)-Owns from Houston, Texas, to Sabine River at Logansport, 192 miles. The second mortgage bonds are held as collateral for the debt due Mr. Bremond, $750,000. Stock issued, $1,920,000. In July, 1885, M. G. Howe was appointed receiver. All but about $100,000 of the firsts are deposited with the Union Trust Co. under agreement to exchange same, principal and interest, for new 40-year 'fives issued at $20,000 a. mile. Whole issue of $3,840,000 to be u sed to retire old firsts, settle prior claims (about $300,000) and make road standard gauge. Foreclosure sale, which was to be made March 11, 1890, was prevented by a. stay of proceedings. See references below. In 1890 gross earnings were $422,522; net, $114,282. In year ending September 30, 1889, ~oss earnings were $369,577; net over operating expenses and taxes, $70,252. (V. 50, p. 451, 483, 801; V. 52, p. 279.) Houston & Texas Central.-( See Map of Southern Pacific)-Owna from Houston, Texas,·to Red River City, Texas, 345 miles; branchesHempstead, Texas, to Austin, Texas, . 118 miles; total owned, 463 miles. Also operates Waco & Northwestern, Bremond, Texas, to Ross, Texas, 57 miles; Fort Worth & New Orleans Ry., Garrett to Fort Worth, 41 miles; Central Texas &Northwestern, 12 miles; other, 4 miles. The Texas Central RR., which was operated by this company, was sold in foreclosure in April, 1891, and in September the purchasers applied to the court for possession of the property.-See that company. Land grant from the State of Texas was 10,240 acres per mile. Foreclosure sale of the Houston & Texas Central Railway (excepting its Waco & Northwestern division) was made September 8, 1888, to the reorganization committee, and in Jan., 1891, the pToperty was turned over to the H, & T. C. Railroad Company. For plan of reorganization see V. 45, p. 792, 820. The bonds are given in table as they will stand under the reorganization plan. Interest charges will be $914,248; taxes (estimated), $70,000. The Southern Pacific Company guarantees interest on all the bonds and both principal and interest of the debentures. The first mortgage bonds and the consolidated mortgage bonds may be called for redemption at 110 with proceeds of land sales. See full abstracts of all the mortgages in V. 52, p. 242. The first mortgage is a first lien on something less than 2,000,000 acres of land and the consolidated mortgage a first lien on about 1,000,000 acres. Of the consolidated 6s $1,149,000 (not included in the amount outstanding above) are held as part security for the general mortgage 4s. The new stock 1s $10,000,000 and the old stockholders paid a cash assessment of $71 40 per sh are to obtain their pro rata share of the new stock. (See V. 51, p. 493.) There are $60,000 Union Depot bonds outstanding. The Waco & Northwestern bonds are not a liability of this company; foreclosure suit is in progress under the W. & N. W. mortgage. The earnings, &c., for the calendar years 1887, 1888 and for the year ending September 30 in 1889 and 1890, were as follows, 507 miles being operated in 1889 and 1890, this including the Waco & Northwestern not owned by the present company : 1887. 1888. 1888-89. 1889-90. Expenses$ $ $ $ Gross earnings.......... 2,896,999 2,786,053 3,262,362 3,863,919 Operating expenses, &c. 2,717,865 2,385,060 2,561,494 2,839,162 Net earnings............. 179,131 400,993 700,868 1,024,759 -(V. 49, p. 22, 145, 173, 269, 471, 654, 856; V. 50, p. 483, 589,703; V. 51, p. 84, 114, 206, 240, 493, 537, 569, 680, 875; V. 52, p. 351.) Hudson Suspension Brido-e & Ne-w England Railroad.Chartered to bridge the Hudson River at Anthony's Nose, near Peekskill and to build a line of railroad over the bridge from Turner's, N. Y., to Connecticut State line at North Salem. The mortgage (trustee, Atlantic Trust Co.) will cover the bridge, 34 miles of railroad and a tunnel of 5,304 feet at Bull Hill. Stock, $10,000,000; par, $100. President, Edward W. Serrell, 38 Wall Street, N. Y.-(V. 51, p. 240, 569.) Huntingdon & Broad Top,-Owns from Huntingdon, Pa., to Mount Dallas, Pa., 45 miles; branches, 19 miles; total operated, 64 miles. Preferred stock is 7 per cent non-cumulative. There were also January 2, 1891, $232,000 car trusts. Bonds due in 1895 have interest but not principal payable in gold. Dividends on preferred stock since 1883-In 1884, 112 per cent; in 1887, 2; in 1888 and 1889, 5 yearly; in 1890, 512; in 1891, 7; in 1892, J an., 312. On common stock in 1891, 2 per eent; in 1892, Jan. 2. In 1889 gross earnings, $523,844; net, $252,035. In 1890, gi:o~s, $721,879; net, $358,159; interest, $132,226; car trusts, $60,235; dividends, $109,261. (V. 51, p. 20.) Illinois Central.-(See Map.)-LINE OF ROAD-Chicago t<i Cairo, 365 miles; East Dubuque to Centralia, 341 miles; Memphis DivisionGrenada to Memphis, Tenn. 100 miles; Chicago St. Louis & New Orleans Railroa d, Cairo, ill., to New Orleans, La., 547 miles; branches, 922 miles; total, 2,275 miles. Also leases and controls by ownershiI_> of nearly entire stock Dubuque & Sioux City and leased lines 600 miles. Grand total, 2,875 miles. JANUARY, RAILROAD STOCKS A ND BO NDS. 1892.] 63 S u bscribers -will c onfer a ~reat favor b y gl-vinz immediate notice of any error disco vered in these T abl es. RAILROADS I · For explanation of column beadings, &c., see notes on first page of tables. I INTEREST OR DIVIDENDS.---Bonds-Prfiici:. M1·1es Da,te s1·ze, or Amonnt • paJ, ""· .. uen D ne. · of • of Par Outstaudin"' Rate per \\ hen Where Payable, and by Stocks-Last; Road. BondR v ·alne. ° Ceut. Payable Whom. Divideucl. - - - -1-------1- - - - 1 Illinois Central-Stock . . . ........................... . Lea!-le1l line 4 per eent f-tock, guar. (!>.ee remarks .. 1st mort. oflSterling hoods. of 1895 ......... . } 1 8 7 4 for Sterl. of '03, £10,000 dr'n yrl.c* $1/l,000,000 Sterling- lloudsof 1905 ......... . secures all 4R of 188G, due 1951, gold .... c* equally . .... 3½R of 1886,llne 195f, gold . . c* Trn:-t hon<lR sterl. (se1\nred by Ch. St.L.&N.0.cons.) 1st M. 011 Ch. & Sp. RR. (Gilm:m to Spriug-tlelll) .c 111 1st M., Mi1ldle DiY.,Otto to Norman June. & brs.r 131 Collateral trm,t hondR, gold,$ & £ ....... . ..... c* 854 Cllicago St. Louis & New Orleans 1st mortgage .. . 567 2rl mortg-nge . ................ .. ...... . . ~· -- ..... . 567 ConRolid:ited mortga,:re,gold ($18,000,000) . c*&r 567 Memphis DiviRion mortgage, ,:rold ........ . .. . c* 100 Cairo Bridge bonds (llelcl by Illinois Central) .. r Indiana Illinriis cf: Iowa-1st mortgage ............ . 118 New 1st mortimge, gold .......................... . 118 lRt and 2d inc.Ms.($250,000 each) 4 p.c.nou•cnrn.r 118 Indimwp. DCf•attwcf: Wesltwn-T.D. &Sp.lstM.,g.i-:.f. 153 Indiauap. Decatur & WeRteru lt<t mortgage, gold 153 2d mort. (income non-c.um. till Jan., 1893) ...... c 153 Income bonds, non•cnmulative, drawn at 100 ... r 153 Iruhauapnlis cf: Vincennes-lr-;t mortgage, guar .... o 117 2d mortg-age, guaranteed Penn. Co ............... c 117 Inleruationai cf: Great Nm·lhern-lst mort., gold ... . 776 2d mortgage, ,g-old . .. . . ~ .......................... c* 776 Do 8 per cent incomes ................ .. 776 Colorado Bridge bouds, sinking tnud ............. . Iowa Central-1st mortgage, gold, $15,000 p. m .. c* 501 K eitbslmrg Bridge 1st mortgage, ,g-nar ......... . c* Jackl'Jonville /,oiiismlle cf: St. Lm,is-SeeChlc. Peoria '-~ St . 1875 1874 1875 1886 1886 18 86 1878 1881 1888 1877 1877 1881 1889 1890 1882 1889 1889 1876 1888 1888 1888 1867 1870 1879 1881 1879 1880 1888 1885 LoniR. $100 $45,000,000 100 10,000,000 £200 2,500,000 £200 3,700,000 £200 1,000,000 1,000 1,500,000 1,000 2,49!),000 £200 5,266,000 1,000 1,600,000 1,000 968,000 500 &c. 15,000,000 1,000 1,374,000 1,000 80,000 1,000 ll,2GO,OOO 1,000 3,250,000 See remarks. 75,000 1:000 725,000 500 437,000 1,000 1,600,000 1,000 142,000 1,000 1,213,000 1,000 1}i8:888 500 &c. 1,000 1,402,000 1,000 7,954,000 500 &c. 7,054-,000 85,500 1,000 22i'>,000 1,000 5,917,000 1,000 591,000 ORGANIZATJOJ.'J, LEASES1 &c.-Tllis company was chartered in Decem· ber, 1850, and 0-rg-anized m March, 1851. Tbe lauds granted were upon th«-' condition that the company should pay to tlle State 7 per ceut of gross earuings ,rearly in lieu of taxes. The company aequired a con• trolli11e interest in tlle Chimtgo St. LoniR & New Orleaus Railroad and lea;;ed it from July 1, 1882; for 400 yearR, at 4 per ceut per aunum on stoolc, and i11sued the abo,·e 4 per cent lease1l line Rtock in exehauge for al ke amo;int of the Chic. St. L. & New Orleans stock (see below). The stock of the Dunleith & Dubuque Bridg-e, $1,000,000. is owuecl. In 1887 ihe company acquired the stocks of the leased lines iil Iowa. Fiscal year ends JLme 30. Auuual election is held in Octoher. STOCI{S AND BoNns.-The leased li11e Rtoek wai>. issned in exchange for a like amount of Chicago St. Louis & New Orleans stock, all of which is held as security therefor. A default for sixty days i11 the payment of any i,emi·annual dividend of 2 per cent on the leased line stock entitles the stockholder to his pro rata share of the stock pledged. Dividends since 1882-In 1882, 7; in 1882, 7; in 1883, 8 and 17 per cent in C'!Jical!O St. Louis & New Orleans stock exehang-eahle for eased line c-ertiticates; in 1884, 10; in 1885, 8; in 1886,7 12; in 1887 and 1888, 7; In 1889, 512; in 1890, 6; in 1891,-5; in 1892, MarclJ, 212 per cent. Price of stol'k-Tn 1883, 1241il148; ill 1884, 1101il140; iu 1885, 11912 @ 140: in 1886, 130'@14312; in 1887, 1141illa8; in 1888, ll31iJ12312: in lt:!89, l061i>118~; in 1890, 85@120; in 1891, 901iJ109¾,; in 11392 to Jan. 22 inclui:;ive, 107121illl0. In addition to tlle bonds given In the ti>'.lle as outstanrling, the company itself held on July 3, 1891. $1,222,(JOO of the 4 per cents of 1952 and the Chicago St. Loms & New OrleanR Cairo Bridl!e bonds of $:.!,643, • 000 and $1,531,000 Dnhuque & Sioux City 51' of 1938. For the Chicago St. LouiR & New Orleans tile lessee guarantees the principal and interest of all the outstanding bondR prior to tlle 5 per cent houds, and by an endorsement on the latter honcls guarantees the payment of the int~re11t on the same until tue 11rineipal is paid. The trm1t honds of 18813, which are seem·ed by deJ)OSit of a like amount of Chicago St. Louis & New Orleans conRols, are to be secure<l by auy future rnortgage on the Illinois Central lines. Of the Chkag-o St. Louis & New OrleauE,i tlrst mortgage 78 of 1877, $541,000 are a prior lien on that part of the road in Tennessee. The collateral trust bonds of 1952 are for an authorized amount of $15,000,000, and securerl by pledge witb the U.S. Trust Co. of New York of $16,350,000 5 per cent 1st mortgage gold bonds of subsidiary railroads coverinl! 850 mileR. 0.PERAT[ON8 AND EARNINGS.-From July 1, 1891, to Nov. 30. 1891 (5 months ), !?,TORS earninKs were $8,344,827, against $7,627,475 in 1890 net, $2,457,840, against $2,400,193. Following h, the statement for six mouths ending Dec. 31, 18!)1. 1890. l 8!11. Differences Gross earnings . . .............. $9,320,262 $10,0(18,438 Inc. $748,176 Operating expenses .......... t>,271.178 7,045,376 Inc. 774,198 Net earnings ... . .......... $3,049,084 Total net revenue ........ $3,592.227 First charges .................. 1,996,760 $3,023,062 Dec. $26,022 $3,581,013 Dec. $11,214 2,006,418 Inc. 9,658 Surplus .................... $1,:'i95,467 Dividends ..................... 1,350,000 $1,574,595 1,125,000 Dec. $20,872 Dec. 225,000 Balance of surplus........ $245,467 $449,595 Inc. $204,128 Fiscnl year ends June 30. Re11ort for 1890·91 was published at length n CHRONICLE, V. 53, p. 472,476. 1889·90. 1890·91. Miles 0per11ted ................ . ......... . 2,875 2,875 Earnings- $3,287,292 11,335,365 1,829,365 $3,812,340 12,160,600 l,U08 ,Gl5 Total ................................. . $16,452,022 11,153,419 Operating expenses ..................... . $17,881,555 12,':61,046 Pa('IR<'nger ............................... . Freight . . . ............................... . Mail, express and rniscellaueous ....... . Net earnings............................. Receipts- - $5,298,603 $5,120,509 INCOME ACCOUNT. Net earuings.. .... .. .... . .. .. . .. . . . .. .. . .. Net receipts from interest, &c.... .... .. . Miscellaneous............................ 1889·90. $5,298,603 731,185 30,018 1890·91. $5,120,509 1,163,109 34,905 Total. ..................... . .......... . $6,059,806 $6,318,523 Jnterest "n llllnois Central bonds ....... I11t. on Cbic. St. LouiR & New Orleans bds. Reutal Dubuque & Hou:rc City RR. ..... . Dividends on Illinois Central stock . . .. . Diviflenrts on LeaRed Line stock ....... . l'ermanent improvements .............. . Miscellaneous ........................... . $1,464,925 1,106,9fi5 *415,629 2,400,000 400,000 213,415 50,000 $1,462,425 1,247,010 829,lti9 2,250,000 400,000 Total. ................................ . Balance .................................. . $6,0fi0,924 Bur.$8,882 l>i.sbur.• emt nts- "' On same basis as in 1 8 90-91, n amely t h e nE't earnings. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I iso:021 ---·-$6,318,633 Def.$118 212 2 6 g. . 5 g. 5 g. 4 g. 312 g. 312 g. 6 5 4 g. 7 6 5 g. 4 g. 5 6 4 g. 4 7 g. 5 g. 5 g. & 0. London. & 0. London,Morton,R.& Co. & D. do do & J. New York, 214 B'dway. & J. do do & J. London, Baring- Bros. & J. New York, 214 B'dway. & A. do do & 0. do do IM. & N. do do ,J. & D. do do J1s&D1s do do J. & D. do do ..... ....... ... 1M. & N. .. .. .. . .. . J. & D. ,N. Y., Metropol. Tr. Co. J. & D.I do do A. & 0. New York. ..... do .. ... .. . . .. . . .. Apr. 1, 1895 Apr. 1, 1903 Dec. 1, 1905 Jan. 1, 1951 Jan. 1, 1H51 Jnly 1, 1950 Jan. 1, l 898 Ang. l, 1921 Apr. 1, 1952 Nov. l, 1897 Dec. 1, 1907 June 15, 1951 Dec. 1, 1951 1950 Nov. 1, 1888 Dec. 1, 19a9 Dee. 1, 1Ha9 Jan. 1, 1906 Oct. 1, 1947 Jan. 1, 1948 1F.' .&. ·A.jN. Y., Farm.' L..& Tr. Co. M. & N. do do g. M. & N. iLast coup. prl. Nov., '88 g. M. & S. Last coup. pd. Sept., '88 M. & 8. ... ..... .. !M. & N. Last coup. pd. Nov., '88 g. J. & D. N. Y. City, Mere. Tr. Co. g. ,J. & D. N. Y., Central Trust Co. Feb:· 1; ·1908 May 1, 1900 Nov. 1, 1919 Sept. l, 1909 1909 May 1, 1920 Juue 1, 1938 ,Tune 1, 1925 ~o. 6 6 6 8 7 5 6 M. & S. New York, 214 B'dway. Mch. 1, 1892 & J. do do Jan. ~. 1892 .J. · A. 'A. J. J. J. J. ,J. F. 1A. 1 -(V.52, p. 204, 350,351; V. 53, p. 59, 95, 126, 186, 370,455, 472, 47 6 . Indiana IJ1inoilii & Io,va. -Owns from Streator Junction, Ill.• to Knox, Ind., 117 milc1,; trackage (Wahash Railway) into Streator, 1 ·70 milei-. Stock, $3,597,800; pu. $100. Car trusts September, 1891, were $90.157. In 1890 tiuanC'es were readj11!-ltefl. <See V. 51, p. 457.) In year ending June 30, 1891, 1noRR earuing-R were 446,3::l2: net, $!)0,475; surpluR over cllargeR, $5,758: GrORR in 1889-90, $326,887; net, $71,537. taxes, $11,055. F. M. Drake, P1·Asident, Centreville, Ia. (V. 51, p. 457.) Indianapolis Decatur & , vester u ,-Owns from Indianapolis, Incl., to Decatur, Ill., 153 miles. On April 1, 1889, defanlted, allll in .Tuly the road wa-- tururd o,·er to R. B. F. Pearce aud B. A. Sands, trui-:tees of the Indianapnli:-1 Decatur & Springfield mortg-age. J 11ne, 1891, a decree of foreclosure was entered nnder the Iuflianapo is TJcatur & Spriug-tield tlrst rnortgage. .Au appeal to the General erm threw · 1he matter over until later A reorg-auizatiou p au wai- offered October 5, 1890. A new plan of reorganization was also proposed in Decewber, 1891, by holders of junior securities. (V. 53, p. U68.) From .Tnly 1, 1891, to Nov. 30, 1891 (5 111011thR), gross earningR were $1222,504, a,t.tinst $205,277 in 1890: net, $48,591, al-{ainRt $55,394. In year ending J nne 30, 1891 g-ross earnings were $478,-138; net, $95,930. In 1889·90 gross, $436,399; net, $114,737. Nmv York olttee, 2 Wall Street. V. 53, p. 204,238, 390, 973; V. 53, p. 126, 520; 880, 968.l Indianapolis & Vincennes. -Owns from InrlianapoliR, Ind., to Vinceunes, Ind., 117 miles; branch, Bushrod to Dugger, 16 miles; total, 133 ruilPs. Tlle Peunsyh·ania Company owns a. coutrollmg intere:-t in the Rtock and operates the road, advancing tlle cletleiency to 1iay intereRt on the bondR. The capital Rtoclc is $1,402,000; par, $50; due Peun 11ylvallia Company December 31, 1890, ror advanceR, $2,2e4.083. In 1890 ~ry•oss earuingR, $459,606; net, $68,690; detlcit under interest, &c., $160,848, against $155,4-36 in 1888. Annual interest, $203,120. lnte1·nattonal & Great. Northern. -Owns Lougview, Texas, to Laredo, Texas, 496 ruileR; and PaleRtine, Texas, to Hon:.. ton, TexaR, 1 50 111i !es: bra11cheR-Honston & Columbia, 50 miles; Phelps to Huntsville, 8 111Ht·R; Mineola to Troupe, 44 miles; lea.ses-Rouud Rock to Georgetown, 10 rnil eR; Henden,on to Overton, 16 milei>.; GalveRton , Honst. & Heu,l., Galvestou to Houston, 50 miloi>.; toul, 82.1 miles. The l11teruational & Great Northen1 wa.s fornclosed iu 1879 a.ud acquired hy MisRonri Kans:u, & TexaR in Ma.y, 1881, by a.n excl1auge or two slrnreR of Mi,,souri Ka.nRas & '.rexa;,. stock for oue or Iuternatioual & Great Northern. In th~ reorganization of the Mi;,.sonri Kansas & Texas in 1890 this stocl, became the joint property of tl1e Mlssonri Kansas & Texa.R and the Misflouri Pacitlc, the coutrol bein~ vested in Mr. F. P. Olcott, who holds 1,000 Rlmres. (See V. 50, p. 313. Default was finally ruad«-' on 2d mortl!rtge in March, 1889, and on the 1st mortgal(e in May, 18K!), some previouR coupous having been bought by Mr. Goltld, on which he obtained ajndgment. Receivers were appointed llehrruiry 16, 1889. In Juue, 1891, a suit was brought to foreclo"e the second mortgage. See V. 52, p. 939. Mr. J . .A. Roo:-1evelt, 33 Wall Street, New· York, it< chairrnau of houdholderfl' committee. In July, 1891, a com mit.tee of wllicb Mr. Adrian Iseliu is chairman was appointed to enforce prtymeut or interest on tlle tlrst mortga.ge. See V. 5:{, p . 58. Tbr 11lans of reorganization proposed by stockholder,, and hy bond~ holders differ somewhat, and an agreement has not yet been arrived at. See CHRONICLE,'"· 5a, p. 407, 60-1. Th" l11temational & ureat Northern guarantees $2,000,000 of Galvesto!) Hm1_Rtou & Helllleri-on lRt mort~age 5 per ceut bonds, of which M1:-Ro111·1 Kanf<aR & Tex a>- ownR $-lOO,uOO. From Jauuary 1 to Juue 30. 1891 (6 monthR), gross earnings on 825 miles wer11 $1,689,a47, against $1,735,789 in 1890; deficit after deducting- expensei- aud b ctte r111enti>., fl49,970, again:-1t $36,710 iu 1.8!>0. For year ending September 30, umo, gross earniugR on 8~5 miles were $4,156,769; opera.ting expeuse!,l, $3,494,054; taxes, $:.!,l:JO;i; uet, $659,810, from which paid for new equipment, $589,181. In 1888·89, 1-11·0!-\H $3,610,361; uet, :i-741,510.-(V. 51, p. 114, 416,457,493; V. 52, p. 939, 97a; V. 5a, p,58, 604; V. 54, p. 33, 78.) · lcnva Central.-Owns from Albia, Ia., to Manly Junc·tion, Ia., 178 miles; ORlmlooRa, Ia., to Iowa Junction, near Peoria, I 11., (excepting Keitl1Rhurg Bridge over the MisRi>-sippi, leased), 18-1 miles; Grinuell & M011tez11111a Brauch, 14 mile..;; Story t '1ty Hraueh, 35 milPs; State Centre Branch, 27 mileR; Belmond Branch, :!'.! lllile:-1; Newton Br:mch, 28 miles; Manly Junr.tiou, la., to No1·thwood, Ia., (lea.o1ed to Burlington Certar Rapid,i & Nnrtl.Jem) l 1 wiles; other, 4 111ile:-1; total owued, 503 rnil«-'s; leases Keithsbmg bridge over Mit-1RiRHippi Ri ver, 3 miler:;: traclrnge, Iowa .Jnnc,tiou, lll., to Peoria, Ill., 3 rnilell; tot1d, f>OO miles, but of this 11 miles leased as stated above. Operates Reparately Centrevilll' Moravia & AJhia, Relay to Albia. 26 mile,;. The Central Iowa, Octoher, 1884, defaulted in payrncut or intereRt, and in 1888, after foreclosure sale, was reorganized uudc1· prm;ent title according to plan in C1-rnox1cu;, V. 44, p. 653. 1.'ru:;teP of tirst 111011iJ1;a~e, Mercantile Trust Co. See abstract V. 49, p. 582. Common stook authorized, $8,600,000; outstanding, $7,973,591; preferrl~1l a nt11ori;1,e1l, $5,600,000; outRtanding, $5.505.912; par of hoth, $100. The preferred is entitled to 5 per cent (non cmnulative), ti.ten <•,ommon to 5. ti.Jen hoth sll~re equaµy. Bills payable July 1, ~891, $-!f>H,(~!W; ae~c:1mt~ ptL~:able, $225,940; mterei,:t, taxes, &e., due 01 accrued, $118,89,i, tot.ti, $801,532. Offsets-supplies, $162,683; Ctt,Sh and accoUDts collectible, $166,011; total, $329.694. The Keithsbmg Bridge b o nds were redeemable at 100 for the Rinking f und, but in 1890 p ayments to the sinking fund were discoutinued in https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL. LIV. . ILLINO.IS 'CENTRAL R. R._ LAND CONNECTIO?iSa JANUARY, RAILROAD STOCKS AND BONDS. 1892,l Subscribers ,vtn conCer a great Cavor by giving Immediate notice oC any error discovered In these Tables. Bonds-Prinol "INTEREST OR DIVIDENDS. Mile, Date Size, or .Amount Rate per When Where Payable, and by pal, When Due• Par Outstanding For explanation of column headings, &c., see notes of of Stocks-Last, on first page of tables. ~oad. Bonds Value. Cent. Payable Whom. Dividend. I RAILROADS. Jacksonville Tampa cl KeL West-lst,g.,red.at 110.c* 13012 1884 $1,000 . Collat. Trust loan on F a. Bo. stock and bonds .... ..... tl~1itt_;~~~~:::: :: :::: : : ::::::: ::::: ::: ···s Je{serson (Pa.)-lst and2dMs,exten.(HawleyBr.).c st M. Carbondale to S.depot,37m.,g.gd.pr.&int.c* 37 Joliet ti Northern Indian(l;-lst M. guar. by M. C .. c 45 Junction (Philadelphia)-lst mortgage (extended). 3·56 3·56 K!~~mJ:icii.:.::isi gold,' ... ·i>:. & 134 Kan. Oi?J,, Ark. &New Orl.-lstM. ($/flo,oooper m.)c* Kansas ity Belt-1st ($534,000 gu. K.C.F.S.&M.).c* ·10 12 Kansas Oity Br. & Ter.-lst M. for $1,500,000, g.c* Kansas O~ty Olinton ti 11-ing,-;-lst M., g., guar .. c* 174 mort,' Kansas Oit Ft. Scott cl ar: i:: :c; empkis-Stock ............. Preferre stock contracts, 8 per cent ............. K. C. F. 8. & G. 1st M., I'd. gr.,s. f., dr'n at 110.c* Mortgages, ~aranteed (part drawn. at 105) .c* Kansas & Missouri RR ........................ c* K. C. Ft. S. & G. Ten-year coupon notes . ....... Kan. City S. & M. Plain bonds (red'ble at 105) .. c* Consol. mort~.fte ($25,000 per mile) not dr'n .. c* Current Riv. . 1st mort., $20,000 p. m., guar. Kan. C.& M. R'y &B'd~lstM.g.,s.f.,dr'natllO.c* Kansas Equif.' Co. 1st . guar., s. f., red. at 110. Kan. 0. Memp . & Bir.-lst mort. (dr'n at 110) .. c* Coupon interest notes, subject to call at par...... Birminf$'ham equipment, guar. (redeem. at 110).c* Memphis Equipment Co., guar., red. at 110 ..... c* Kansas Oity cl Pacific-1st mort., gold, int. Boar .. K. 0. St. Jo.ti Ooim.Bl.-Con. M. (Nos. 1 to 5 pf.) c 1st Ms. Nod. and Tark. Val. RRs. s. f. (dr.at 100) .c* 6 g. J. & J. N. Y., Mercantile Tr.Co. 1,566,000 4 2,900,000 F. & A. Boston, .Am. L. & Tr. Co. 74,000 6 . .......... M:&· s. 360,000 6 . .......... M.& B. 290,000 6 1867 300,000 412& 6 J. & J. Phila., Fldelity·Tr. Co. · 1~000 1889 1,000 5 g. A. & 0. N.Y.,N.Y. L.E. &W.RR. 2,800,000 1877 1,000 800,000 7 J. & J. N. Y., Farm. L. & Tr. Co. 1882 1,000 425,000 412 J. & J. Phila., 233 So. 4th St. 1865 1,000 300,000 6 .A. & o. do do 1890 1,000 4 g. A. & O. N. Y., Central Tr. Co. 1,327,000 (i) 1890 1,000 M.&N. New Y.9rk City. ~ g. 1886 1,000 1,930,000 J. & J. Boston, Of., 50 State St. 1889 500 975,000 6 g. J. & J. Jan., '91, cou[.' last pd. 1885 1,000 3,192,000 5 g. .A. & o. Boston, Mere . Nat. Bk. .... 100 F. & .A. Boston, Of., 50 State St. 9,997,000 1 .... 100 F. & A. 2,750,000 4 do do 1879 100 &c. 2,247,000 J. & D. Bost., Nat. Webster Bk. 7 '80-'84 1,000 1,228,000 M.& S. 7 do do 1882 1,000 390,000 F. & .A. 5 do do 85&86 5,000&c 320,000 Boston, Of., 50 State St. 6 M:·&··N. Boston, Nat. Union Bk. 1884 1,000 500,000 6 1888 1,000 11,561,000 M.&N. Bost., Nat. Webster Bk. 6 1887 1,000 1,606,000 A. & 0. Boston, Nat. Union Bk. 5 1889 1,000 2,500,000 ~ g. J ...&.. J . Boston, 2d Nat. Bank. 1890 1,000 686,000 Bost., Nat.Webster Bk. 1887 M. & 8. 1,000 6,892,000 5 Interest funded. 1891 (1) M.& s. 6 Boston. 1888 6 g. M. & 1~000 1,000,000 ton, Meroh. Nat. Bk. 1890 1,000 F. & .A. do do 191,000 6 1890 1,000 4 g. F. & .A. N. Y., Central Tr. Co. 2,500,000 1877 100 &c. 5,000,000 7 Bos11~• 2d Natd!ank. 1 1,000 1880 587,000 7 1888 .... 88-89 ..... . .. . .... i6o 202 26 .... tiii 81 .... 276 .... .... i25 f 274 61 1,000 .... . ... pursuance of an agreement with the Bridge Company. See V. 51, p. 715. From July 1, 1891, to Nov. 30, 1891 (5 months) gross earnings were $841,041, against $783,064 in 1890; net, $278,721, against $254,441. Fiscal year ends .lune 30; report for 1890-91 was in V. 53, p. 367. The General Manager's report remarks that from May 1 to June 30,1891, no coal was hauled from Iowa mines, on account of miners' strike; this reduced the coal tonnage approximately 59,710 tons and reduced earnings about $34,000. In the previous annual report he had said the road should be operated for 70 per cent of gross earnings, and for first ten months of present year they operated for 68·59 per cent, and had it not been for the miners' strike it would not have exceeded 70 per cent for the year." Income has been as follows, the road having been taken out of receivers' hands May 16, 1889, and interest on funded debt being paid only since tb,at time. 1888-89. 1889-90. 1890-91. .Av'ge miles of road operated. 515 504 492 Gross earnings ...............• $1,387,303 $1,588,963 $1,699,742 Net earnings.................. 225,577 428,766 476,361 Total net receipts ....... ...... 240,247 444,641 492,462 Interest, rentals, taxes, &c. . 199,270 420,025 470,785 Surplus.................... $40,977 $24,616 $21,677 The interest, rentals, taxes, &c., above in 1890-91 include: Interest on funded debt, $295,800; on current liabilities, $17,880; rentals of bridges, tx:a~ks. and tunnels, $52,522; taxes, $65,475; betterments, $33,391; lltigation, &c., $5,717; total, $470,785. President, Russell Sage. (V. 50, p. 244, 313, 353, 377; V. 51, p. 343, 345,715; v. 53, p. 256, 36'7, 407.) .Tacksonvllle Southeastern. l SEE CHICAGO PEORIA .Jacksonville Louisville & St. Louis. S & ST. Lours. .Tacksonville 'J.'ampa & Key West.-Line of road Jacksonville, Fla., to Sanford, 126 miles ; Enterprise branch. 5 miles ; Deland branch, 6 miles. Leases .Atlantic Coast St Johns & Indian River. Enterprise to Titusville, 40 miles; other branc.hes, 23 miles; total J. T. & K. W., 200 miles; Florida Southern, Palatka, Fla., to Gainesville, 50 miles (of wllich 38 miles 3-ft. gauge) ; Rochelle to Leesburg, to Brookville, 106 m iles; Bartow to Punta Gorda, 81 miles; Leesburg to .Astor, 50 miles ; total, 287 mile.i; lines to St. .Augustine, Palatka, Daytona, &c., 101 miles; opt,rates, 66 mil es; total operated, 651 miles. Opened M i.~rch, 188G. 'l'lle land grant was about 1,500,000 acres. The first m ol'tgage bouds arc subject to call at 110. Stock is $2,600,000. Company obtained. control of the Florida Southern on Janua ry 1; 18 9, and 1ssued a collateral trust loan for $2,905,000 on t llat company's stock and bonds, this loan bearing 3 per cent interest till 1890, 4 per cent till 1894 and 4~ per cent for the remaining 5 years. (See V. 47, p. 531.) Suit for foreclosure of Florida Sonthern's underlying mortgage was instituted in March, 1890, and road will be sold on March 7, 1892. (See V. 50, p. 422; V. 53, p. 922.) From July 1, 1891, to Dec. 31, 1891, (6 months), r.oss earnings of main line were $3 4,448, agst. $255,769 in 1890; ne , $119,428, agst. $45,603. In 1890-91 the gross earnings on 200 miles were f705,267: net, $228,339; surplus over interest, $95,379. In 1889-90 gross, $631..t.015; net, $134,002. New York office, 10 Wall Street. -(V. 49, p. ~35; V. 50, p. 422,519; V. 53, p. 922.) .Tetrer8on.-Owns from Susquehanna Depot, Pa., to Carbondale, Pa., 37 miles; branch, Hawley, Pa., to Hone<1da.le, Pa., 8 miles; total, 4.5 miles. Leased in perpetuity to tile New York Lake Erie & Western for $140,000 :\)er annum for ru:~in line and $15,9 0 for bt·atu.,ll. Mortgage of 1889 18 guaranteed principal aml iut.t1re~t hy le,{see. 'l'he Haw• Iey branch 2ds, $96,000, due in 18~9. we1·e e xtemle«l at 6 p 1•r cent. Capital stock, $2,096,050; par, $~0. Gross eaminga year ending Sept. 30, 1891, $750,126; net, $191,876. .Teff'erson Madison & In..Uanapolls.-Sce PITTSBURG CINCI!'I• .A.TI CHICAGO & ST. Loms. .Toilet & Northern Indlana.-Own~ from Jolit>t, Ill., t,o Lake ,nation, Ind., 45 miles. Operated as part of tile Miolligau Central main line. Road opened in 1854 and leaaed to the Michi~an Central. Stock ($300,000) carries dividends of 8 per cent per auuum. .Tunctlon (Phlladelphla).-0wntt from lie11nout1 Pa., to Gray's Ferry1 Pa., about 4 miles. It oouuects tile Penusylvama, the Phil~del• phia & Reading and the Philadelplrla Wilmington & Baltimore railroads, coming into Philadelphia. Stock $i50,000 (par $50), is all held by these three companies, and pays dividends of fi-om 20 to 50 per cent per annum. Gross earningsiu 1890, $234,211; net, $142,526. Kanawha & Mlcnlgan.-(See.MapToledo d! Okio Uentral.)-0\VUS Corning, 0., to Malden, &c., W. Va., 134 miles (gaugt> 4 feet 9 incbe:,i); leases 19 miles; total 153 miles, of whicll 11 mile,. owned lit uot operait;ed by this company. The Kanawha & Ohio (was 1101d in foreclosure March 4, 1890, and reorganized under }lreRent title. (::lee CllRONICLE V, 50, pp. 451 4'83.) In October, 1890, a la1·ge interest in the company was acquired by parties interested in the 'J'oledo & Ohio Central, which company has guaranteed the oonds, principal and interest. (Bee V. 52, p. 165, 351.) The mortgage or 1890 1s for $15,000 per mile of road now or hereafter constructed (an extension to mouth of Gauley River, 32 miles, being projectecl); but until extensions are built the issue on present milea~e must not exceed $10,000 per mile. Stock authorized, $10,00u,OOO; outstanding, 1f9,000,000 par, $100 J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 Bros f : ii: Jan. 1, 1914 .A'kt,·· 1898 $7, 00 s.-au. Jan. 1, 1906Sept. 1, 1916 July, 1927 Jan. 1, 1929 July 10, 190'7 July 1, 1907 Apr. 1, 1900 Apr. 1, 1990 Nov. 1, 1930< July 1, 1916, July 1, 1919Oct. 1, 1925 Feb. 16, 189.1 Feb. 16,1891 June 1, 1908 Sept. 1, 1910< .Aug. 1, 1922'. Dec., 1895-96May 1, 1894. May 1 , 1928 Oct. 1, 1927 Oct. 1, 1929 Jan. 1, 1905 Sept, 1, 1901 Moh. 1, 1927 Mch. 1, 1903 .Aug. 1, 190i:; .Aug. 1, 1990 Jan. 1, 1907 June 1, 1920 From July 1, 1891, to Oct. 31, 1891 (4months), gross earnings 1'.V'er• $117,612, against$134,160in 1891; deficit, $15,408, against net of lj;46..590. In year ending June 30, 1891, gross earnings were $347,702; netr $86,201. In 1889-90 gross, $305,216; net, $68,854; taxes and rents,. $15,333; surplus, $53,521. President, Nelson Robinson; Vice-President, Stevenson Burke. (V. 50, p. 313,353,451,483,589; V. 51, p. 142, 457, 753; v. 52, p. 165, 351.) Kansas City Arkansas & Ne,v Orleans.-Under conlira.ct .t o be built from Beebe, .Ark., to Monroe, La., 160 miles. On .April 1, 1891, 481 miles were gra.j].ed ready for rails. Capital stock, $5,000,000. Mortgage is for $3,200,000, trustees The Farmers' Loan & Trust Co., New York, Hon. Dan. W. Jones is President and C. G. Stoddart Vice-President and Treasurer. Branch offices at 18 Broadway, New York, ancl Bartholomew House, E. C.• London.-(V. 48, p. 462; V. 49, p. 718.) Kansas City Belt.-From Argentine to Washington Park, 10 mlles. Mortgage is for $2,500,000. Stook authorized $2,500,000 (par $100);. outstanding $100,000; owned ona-half by .Atchison Topeka & Santa Fe and three.tenths by Kansas City Fort Scott & Memphis and two-tenths by Chicago Milwaukee & St. Paul. Doubl~tracked and used for a terminal road at Kansas City. In year ending June 30, 1891, gross earningswere $209,197; net, $103,-!77; interest, $103,477; surplus, $i,163. Kansas City Brld~e & Termlnal.-Organized to construct a. railroad and carriage br1d15~ over the Missoul'i River at K ansas City. In August, 1891, W. B. withers and W. H. Holmes were appointed ioint receivers of the Kansas City Bridge & l'erminal R ::i.ilro:1d and the Chicago Kansai City & Texas Railroad, the latter extending from North Kansas City, Mo., to Smithville, Mo., 20 miles, and having $100,000 bonds outstanding. Tile Central Trust Company is tru,-tee of both mortgages. Stock authorized, $2,000,000; outstanding, $975,000; (par$100.) (V. 53, p. 256.) Kansas City Clinton & Sprlngfield.-Owns from Cedar Junction, Kan., to A sh Grove, Mo., 164 miles, and branch to Pleasant Hill, Mo., 10 miles; total, 174 miles, but only 163 miles operated. Built 1n, the interest of tlle Kansas City Fort Scott & Memphis RR., which comp any gLtarauteers the bonds. '.rhere are $58,000 Pleasant Hfu & Oe Soto 7 J.>er cents due October 1, 1907. Stock authorized, $2,500,000; par,. $100; issued, $1,775,400, of which a majority is owned by the Kansas. City Fort Scott & Mempllis RR. From Jan. 1 to .Au~. 31, 1891 (8 months), gross earnings were $193,,281, against $273,61.:> in 1890. In 1890 gross earnings, $1.U,195; net,. $201.857. In 1889 gross, $281,056; net, $107,8-15. Kansas City Fort Scott & Memphls.-Ownq m1,in lme from Kansas City, Mo., to Memv.his, Tenn., 485 m ' les, with uranches, 18G miles; total owned, 671 miles; leases-'-Current R1 vet· Railroad, Willovr Springs, Mo., to Cairo, 81 miles; total operated, 752 miles. Company· formed in .April, 1888, by consolidation of the Ka:nqas City Fort Scott & : Gulf and Kansas City Springfield & Memphis railroad,;. Under the consolidated mortgage of 1888 (tru1otee New En.~la.nd Trus~ Company of Boston) sufficient bonds are resec·ven to provi«le for all prior bonds when due. The Fort Scott Southeastern & t\Iem ;:, .1i~, Rich Hill and Short Creek & Joplin roads have a sinkin~ fund vith ,vl.l.ioll bonds are bought at 110, or, if not otrcrcd, are drawn at 10,> (oC th& amount given above as outstanding, $208,000 were oa June 3 , 18{)0, held alive in the sinking fund). The Current River Railroad bonds are guaranteed; tlley were ilum~!l as per circular in V. 44, p. 246: The Kausas City & M e1:11 11!11s R :1,ll \Va~ & Bridge bonds, also guaranteed, will be snhJect to sitLO.u~ r im l «irawings arter 1891. The Kansas Equipment bonds are gmu-autoell, and tile issue is redeemable as a whole at n.ny time at 110 and iuteredt, and I~ entitled to an annual sinkiu~ tund of :$12,000, t'.or whioh t l1e b udit may be purchased but oannot b e drawn. Com pany also g Ltar mtoe11 $534,000 Kan~as City B e lt a11d $3,19~,uoo Kausas City Cllutou .k ~priugtfold bornls-dee tho,1e comp :mies. Divldeuds on common stock since 1881-lu 188'2, 2 per cent; in 1qs3• 3: in 1884, 519; in 1885, 2-½3; in 1886, 4; iu 1837. 4½3; iu 1 8~3, ~119; in. 1889, 3: in 1890, .Fehruary, 2; August, l lg; in l d91, 1'"'ebruary. 1;: .Au~ust dividend passed. Dividends on preferred smcA 1883-I:n 1881, 8-½l; from 1882 to February, 1891, both inclusive, at thu raw of 8 per cent yearly. The Aug• ust, 1891, dividend was del'err-,J uutil tll re:: mlts of the calendar yea.r1891 could be ascertained. Soo V. 53, p. 186. FJ.•om ,Tul:v 1, 1891, to Nov. ao, 1891 (5 months), gross earning& were $2, 12,2,381; a.~1.1.iust $2,060,116 in 1890; net, $689,729, agairist $599,212;, interest, rentals, &c., $39, 11, a;aiust$89,l29; d eficit, $6,671, agaiust$5. .Fb1cal year euds .Tlllle 30. 'l'ue a.<lvanoe statement for 1890-91 waJ in v. 53, p.'186, '.l'lle report for ll389-9J Wa:i lu C tlRONICf,E, v. 51, p. 607. 188~-8. . 1889-90. 1890-91. Gross earnings ..................... $.l,545,5t,7 $4,937,t.131 $4,703,14.!l N.-t earnlngs ................... ..... $1,518,0:H $1,55 ,786 $1,313,924 Cllarges-Int., traffic guar., e~. . .• 991,537 1, 42,549 l,068,84fl Balance, after add'g other ino. Dividends paid...... . ............. $606,578 516,924 $569,161 566,414 ,~;;6,88 1 208.97 ~ Balance ........ . ..... . ......... sur.$89,654 def.$2,747 sur.$,!7,90J For 18 -91 t or was also a. deficit on the Current River R tt. ot $26,947, ou the Kau:ias City Clinton & Springfield RR. of $37,297; totu such deficits, $66,24-1. -lV, 51, p . 171, 383, 60'7; V._52, p. 279; V. 53, p. 186, 407.) 86 INVESTORS' SUPPLEMENT. [VOL. LIV. Subscribers '1Vlll confer a great favor by gtrlug Immediate notice of any error discovered In these ,Table11. 1u!f-:--Prtnol• RAILROADS. INTEREST OR DIVIDENDS. 1Bo Miles Date Size, or Amount _ pal,\\ htm Due. For explanation of column headings, &c., see notes of of Par Outstandin" Rate per When Where Payable, and by Stocks-Laai •· on first page of tables. Road. Bonds Value. "' Cent. Payable Whom. Dividend. I ----------------------1 _...---------------------1------ - --- --1------1----1----1------------1- - - - - - Kan. Citµ Snbnrban Belt-1st mort. for $1.000,000 Kansas City Watkins d <rulf-lst mort., gold .. . c* Ka1'. C. IVyan<f.'e cf: N. W.-M.$19,»00 p.rn.,:;.,$&£.o* Kan. City & Beatrice lat mortgage, gold, guar. c Equipment trnRUI, Series I. A & B .. ...... . ....... . Kenluck!{ Oent1·at-:-Covington & Lex. ruort. extend. Maysv1lle & Lexmgton RR. mortgage ........... . New mortgag-e, g-old ($7,000,000) ............... c* ,Kent11-ck11 Union-lat mort. for $3,000,000, gold.c* 2d mortgage for $1,300.000 ............. . ........ . Keokuk& 1JetiMoines-11stM., int. /!Uar., C.R.I.& P.c* Keokuk & Westernr-Common stock ... . ............. . KinJJB Co. Elev.-lst. M., /!., ser."A"$550,000 p. m.c* 2d mortintl!e ($7,000,000) $550,000 p~r mile ... o* Funded coupon scrip.... . . . . . . . . . . . .............. . Fulton Elev.lstM.,Ser.A,$550,000 p.m.,g.,guar.c* Kingston ff Pem,broke,-lst M.,gold,(reedem. at 105) •'Knoxinlle Omnberlarul Gap & Louis-1st M., g .... c* 2d 1nortga/!e ...................................... c* Lackawanna cf Southwestern-Mortgage ........... . Lake Erie Alliance&Soutli.-lstM.for$1,250,000.c* T Inc. bonds, non-cum.,/!. (red. after 1897 at 106)c* Lake Erie~ Western-Com. stock, $20,000 per mile ·Pref. stock, 6 per cent (not cum.) ($20,000 p. m). lat mortgage, gold, ($10,000 per mile) .......... c* 2d mort., gold, for $3,625,000 ($5,000 per mile),c Lake 8/wre cf Michigan Southern-Stock ........... . Uuaranteed 10 per cent stock ...............••.... Olev. Painesville & Ash. RR. 3d mortgage ...... c · Buffalo & Erie lat m. (Buffalo,N.Y.,to Erie..t Pa.).c Lake Shore div. bonds (Buffaloto Toledo, u.) ... . c Consol. 1st mort.sink.fund $250,000 yearly. c&r _• Consol. 2d mort. (for $25,000,000), do ...... c&r 60 134 35 80 49 220 100 100 162 148 6 6 ···3 113 70 70 110 60 60 725 725 725 725 1890 $ .... 1,000 1890 1,000 1888 500 1889 1887-9 1,000 1,000 1855 1,000 1876 1,000 1887 1,000 1888 1,000 1890 1878 100 &c. 1885 1888 1890 1889 1882 1888 1889 1889 1887 1887 iss1 1891 ·95 is61 88 258 864 864 1868 1869 1870 1873 - Kan11a11 City Memphis & Blrmlngham.-Owns trom Memphis ~ Binningliam, Ala., 253 miles, and branches to Aberdeen, Miss., and °BeAAemer, Ala., 23 miles; total, 277 miles; completed in October, 1887. The Kan1m,8 City 1<~01·t Scott & Memphis owns half the stock and gives a trattlo guarantee of 10 per cent of b'TOSR earnings derived rrom business to and trom this road, to be applied to interest. First mor ~gage bonds are snbj('lct to call at 110 and interest. '.rhe New Englaud Trust Companyi,. tmstee under the mortgage; abstract, V. 46, p. 575. In September, 1891. holders of the company's first mortgage bonds were asked to fund five coupons beginning September 1 into 10-year 6 per cen·t notes, secured by the ooupo-ns deposited in trust. The coupons of equipment bonds will be paid in cash as heretofore. Bee full explanation in V. 53, p. 325. Tile Biriningham and Memphis equipment bonds are both guaranteed by this Co., and a.re redeemable on 60 days' notice at 110 and interest. From July 1 to Nov. 30, 1891 (5 months), gross earnmgs were $531,635, against $512,778 in 1890; net, $116,975, against $140,318; ihterest, rentals, &c., $178,358 against $174,403; ddlcit, $61,383, again1stdef. of:t,34,085. In 1890-91 gross earnings were:ttl,192,165; net, $:,m0,917; net, adding traffic guaranty, $251,040; charges, $427,105 deficit, $176,065. ln 1889-90 gross earnings, $1,:l09,733; net, $424,965; net, addh~g traffic guaranty ($~ 4 •6 ~ 7 ), etc., $ 45 o,io3 ; sut·plt~s over oharges. $49 ,7 6 1. St.ock, $ 5 , 956 ,000, par, $lOO.-(V. 5 o, P• 275 • V. 52 • p. 39; V. 53 • p. 186, 289 • 325 ·) Kansal!l Clty & Pacttlc.-Line of road, Paola to Stevens, 130 miles. Forms part of the Missouri Kansas & Texas main line to Kansas City, having btien leased to that company for 999 years from Augu;,t 1, 1,890. '!"he lessee guarantees by endo1·sement tile interest on the new 4 per cent bonds, aud if prior to Aug-ust 1, 189f>, 30 per cent, and thereafter 83 per cent, of tile gross earnings shall exceed tile interest on the bonus, taxes and corporate expeuses, the amount or sucll excess (all advances hy Missouri Kansas & Texas having been settled) is to be paid to the Ka.r~sas City & Pacific. See v. 51, p. 457. Stock is $2.500,000, or wWch $1,725,000 is owned by M. K. & 'l'. From Jan. 1 to April 30, 1891 (4 months), @"OSS earnings on 131 miles were $102,647, against 11!88,709 on 125 miles in 1890. (V. 51, p. 457, 494.) Kansas City St. :Joseph & Couucll HlutTl!I.-Owns from .Kan•as City to Council Blu.ffs, 197 mile s , branches 58 miles, prt'rprietai·v llues (Nodaway Val. and Tarkio Val. RRs.), 61 miles; total operated, 316 miles. The capital stock of $5,262,600 was purchased by the Cllica~o Burlington & Q.uincy in 1880, and the road is operated as part of that system. In 1B9o gross earnings were $1.863.mn; net, $596,3i7; surplus over fixed charges, $183,031; paid dividends, $161,577. Kansas City Suburban Helt.-This road extends from Second Street and Broadway around Kansas City, via the East Bottoms and the valley of the Blue and Brush Creek. It provides terminal facilities tor th.e railroads centering at Kansas City, and furnishes quick transit from the nrn,nufacturing suburbs along the Blue Valley, $1,500,000par $100. E. L. Martin,President, Kansas City Mo. . Kansas City Watkins & Gulf.-(See Map.)-Completed in 1891 from Lake Charles, La., nortllerly to Alexandria, 100 miles. Surveyed 50 miles _nortbwesterlf from Alexandria R,nd also projected from southern termrnus to Cahwien Pass on Gulf of Mexico, 25 miles. At Alexamlria .road will connect with Houston Oen. Ark. & Northern, making tµrou:sh line to _St. Louis _and points nvrtlt. Bonds i;.;sued at $15,00U per mile, but tins may ue mcreased to $20,000 for future requirements. Stock aut110rized, $10,000,0UO-par $100. J. B. Watki'lS, President, No. 2 Wall Street, New York. Kan-!§as City \Vyandotte · & Northnrestern.-Road from Katisas City to Beatrice, Neb., 175 miles, or which Seneca to Axtell, 12 miles and Virginia to Bea.trice, 14 miles are leased. Owns branclles to Leavenworth, etc., 20 miles. Leases '.ronganoxie to Carboudale, 43 miles. •.rot.al operated, 239 miles. Mr. N.e wman Erl> was appointed receiver In 1890. On June 18, 1891, a decree of foreclosure was entered, but sale has not been ordered and may be delayed. First mortgage bonds are being depo:;1ted with the CentTal Trust <Jompany of New York, under an agreement between the London committee. dated April 22, 1891. and Frederic P. Olcott, Benry Budge and Andrew Ha.es. In June, 1890, a lar 0 ·e interest in ihe road was reported purchased by Mr. Jay Gould. (See V.'50, p. 874.) Brock issned, $:.!,773,000; par, $100. From the receiver's report to e~ate Qf Kansas f?r Y«tar en~ing June 30, 1891, gross earnings were $354,145; detlci~ frpm operatwns, $16,424. In year endiug June ::JO, 1_8 ~0, ~ross earnm15s w~i·e $470,9,31; net, $~7,0.67. (V. 52, p. 831, 939.) r Kentucky .Central Bailway.-O~s from 9ovinb"ton, Ky., to ~oundstone (le,ss three miles leased), 148 miles; Paris to Lexington 19 mUes; Paris, Ky., to Maysville, Ky., &9 miles; total owned 217 miles· leases Rill~~ond to Row~and (Louisville.& NashYille), 34 m'ues; Rounl stone to Livm~•ston, 3 miles; total operated, 254 miles. · T'/1:e Kentuc YCentral RR .. w_a s s'?ld in foreclosure April 23, 1887, and fihe p'r~,,;ent c _rnpauy · orgamzed with stock of $7,000,000 ($6,907.300 issued); pa.r lf:100. In Decemuer, 1890, the· Louisville & Nashville acquired tile stock (See V. 51, p. 876; V. 52, p. 9::J9), aRsumin•:r control }'eb. '.!. 1891. ~e ~b~tract o_r mortgage (Metropolitau Tni,;t of New York, tr111-,tee), V. 45, p. 372. Tile l'tfay1wille Division is leased for $28,000 j>f!r year, hnt the stock is all owned. ln ':l.SS~. grdss'earning~ were $1,063,815; net, $481,978; surplus over eba_1·~es, $~9,.201. In 1890 g · ass about $1,135,000. (V. ~~•· p. 48 9; V. :>O, p. 42;1, V. 51, p. 875, 939.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Co. (1) $900,000 3,750,000 400,000 626,000 219,000 400,000 6,523,000 2,500,000 800,000 2,750,000 4,000,000 3,377,000 1,000 3,377.000 1,000 422,550 d>OO 1,621,000 572,000 1,000 1,650,000 1,000 500,000 1,000 800,000 1,000 1,000 346,000 1,680,000 1,000 100 11,840,000 100 11,840,000 7,250,000 1,000 1,500,000 1,000 100 49,466,500 533,500 100 1,000 569,000 500 &o. 2,784,000 1,000 1,356,000 1,000 15,041,000 1,000 24,692,000 6 Phila., Union Trust Co. 1920 5 g. J."·&-·J. N. Y. Office, 2 Wall St. Jan. 1, 1930 5 g. J. & J. In default. Jan. 1, Ul38 5 J. & J. In default. Jnly 1, 1939 1891-1900 ..:f iar1o~. N_-;f;oittce. June,1895 7 J. & J. do do 1906 4 g. J. & J. do do July 1, 1987 5 g. J. & J. Jan., '91, coup.last paid July 1, 1928 6 J. & J. July 5, 1920 5 A. & 0. N. Y., 13 William St. Oct. 1, 1923 1 . . . . . N. Y., John Paton & Co. Oct. 1, 1891 5 g & 6 J. & J. N. Y., Am. Ex. Nat. Bk. Jan. 1, 1925 5 A. & 0. Inter'st funded till 1893 Apr. 1. 1938 3 to 6 April 1 New York. Apr. 1, 1900 5 g. M. & 8. N. Y., Am. Ex. Nat. Bk. Mch. 1, 1929 6 J. & J. N. Y., R. P. Flower & Co. Jan. 1, 1912 5 g. J. & D. New York and London. Jnne 1, 1928 6 g. A. & O. ! do do Oct. 1, 1919 5 J. & J. N. Y. Qfflce, 48 Wall St. 1929 6 g. J. & J; None paid. Jan. 1, 1917 Jan. 1, 1917 6 g. ..... ·········· 1 5 g. 5 g. 3½1 5 7 7 7 7 7 Q_-..:.:F. N. Y. Offlce:·ioWallBt. Feb: "i5: ·i892 J. & J. N. Y., Chase Nat. Bank. Jan. 1, 1937 J. & J. do do July 1, 1941 Feb, 1, 1892 Nf.Y.,~~andCen~c?ffloej. Feb. 1, 1892 A. & 0. Oct. 1, 1892 A. & O. Apr. 1, 1898 A. & O. Apr. 1, 1899 Seerem. Coupons a.re paid July 1, 1900 J. & D. by Treasurer at Dec. 1, 1903 i: f !: Kentucky Unlon.-Owns from Lexington, Ky., to Jackson Ky., about 100 miles; completed to Inverness in 1890, and to Jack,;on in July, 1891. Pro,Jected to Big Stone Gap. In February, 1891, Mr. H. F. Kean, of New York, was appointed receiver, arid in April, 1891, he was granted permission to complete the road to Jackson, 3 miles, and to issue receiver's certificates for $125,000. See V. 52. p. 642. Capital stock authorized, $5,000,000 (par, $100), of which the counties of Clark and Fayette and city of Lexington sub,rnrlbed $300,000. The first mortgage is for $3,000,000, and covers road and equipment. '.rhe bonds were guaranteed principal and lntere,it by the Kentucky Union Land Co., which owns 550,000 am·es or timber and mineral lands, and has a pa.id-up capital of $5,600,000, witho11t mortga)!e or debenture debt. There are also second mortgage bonds 011~ standing. (V. 50, p. 519, 770; V. 52, p. 203, 279, 427, 642.) Keokuk & Des 1'Iolne8.-0wns from Keokuk, Ia., to Des Moine1, Ia., 162 miles. Leased for 45 years rroru October 1, 1878, to the Chicago Rook Island & Paoitlc Railroad, the lessee to pay 25 per cont or the gross earnings, but guarantees the interest (not the principal) on the present uonds. The stock is $1,524,600 8 per cent prefert·ed and $2,640,400 common (par of both $100), a maJorit,v of wllicll is held by tile lessee. Keokuk & Western.-Owns Alexandria, Mo., to Vau Wert, la., 143 miles; operates Keokuk to Alexandria, 5 miles; was formerly the Missouri Iowa & Nebraska., pa1·t or the Wabash system solu tu foreclosure August 19, 1886, and reorganized under this title. ~tock, $-l,000,000; par, $10.0 A 6 per ceut notti for $240,000, secured by mort.~ age, payable at will, ls outstandin~. Dividends: In 1888, 1 per cl'.,nt; in 1891, April l; Oct. 1. From Jan. 1 to Nov. 30, 1891, (11 months), gross earnings $374,274, · t $297 266 · 1890 et $1'1!) 453 · t ~ ll4 68() I 11 1890 agams • m ;n • • • agams ,;. • · gross, t-arnings were $371,674; net earuings, $141,433. In 1889 l,('ross, $356,157; net, $123,760. G. H. Candee, 52 William St., N. Y., Vice-Pres. Kln~s County Elevated.-Owns road in operation througll Fulton Street, Brooklyn, to fot·mer city line, 6·14 miles; leases Fulton Elevated, in operation from former city limits to ea:;terly Line o! i:,cllenck Av., l¾, miles (total track 3 miles), projected to Jamaica, 1 2-5 miles adclitional. Stock autllorized and outstanding, $3,250,000, par $100. Interest on the second mort~age bonds for 1890, 1891 aud 1~9~ is funded into 10-ymLr debeuturescrip. ·Tllis scrip receives 1 per cent interest till April 1, 1891, then 3 p. c. till April 1, 1892, then 5 per cent till April }i. 1893, and thereafter 6 per cent yeady. Of the 1st mort. bonds $:lOO,Ouv are 6s; trustee is Mercantile Trust Company of New York. (See abstract of tlrst mortgage in V. 49, p. i37.) Tile Fulton Elevated Railroad is leased for 99 ,years, and its bonds guaranteed, principal and intet·est. July 1 to Sept. 30, 1891, gros>\ earnings $183,173, against $158,294; net, $48,84~, ags_t. $31,525; def. under charges, $1,375, agst. $16,692. ln year ending June 301 1891, gross earnings were $811,069 ; net, $240,528; interest on bonus, $177,793; otllerintere:;t, $8,709; rentals, &c., $2,72&; surplus for year, $51,298. In 1889-90 gross, $716,707. President, James Jourdan. (V. 48, p. 855; V. 49, p. i2, ~37, 8~5; V. 51 • p. 457 ; V. 52 • p. 391 ; V. 53 • p. 256 .. ) · Kingston & Pelllbroke.-Owus from Kingston, Ontario, Can., to Renfrew on the Canadian Pacitlc Railroad, 104 miles-; brauciles, 9 miles; total 113 miles. Bonds arn redeemable on notice at 105. Report for 1889 in V. 50, p. 390. Stock, $4,500,000; par, $50. Gross earnin)!S, 1890, $178,864; net, $44,435; surplus al>ove cll.arg"es, $6,86:'>. 1n lti~9, gross, $182,875; net, $18,363; surplus over interest, $14,043. See full statement in V. 44, p. 402. (V. 48, p. 526; V. 50, p. :{ 90.1 Knoxville Cumberland Gap & Louisville.-Knoxville, Tenn., with tunnel at Cumberland Gap, to a connection with the Louisville & ~ash ville at l'tfiddlesboro, a distance or 74 miles; branches, 7 miles. It forms with tile Marietta & No1·tll Georgia a direct line, openei.l in August, 1890, to Atlauta, Ga. Tile mortgage is for $1,500.0UO on 70 miles and proMdes for the issue of $500,000 additional at $15,000 per mile for exten~ion~. The City of Knoxville subsci:ibed to $225,000 Rtock. Stock authorized : Common, $1,575,000; preferred, $1,380,000; par, $100; paid in $2,730,000. (V. 48, p. 4iO; V. 51, p. 345.) New York otlice, 59 Wall Street. . Lacka,vanna & Southwestern.-Lackawanna Junction, New York, to Perkinsville, 41 miles; Hornellsville t" Waylaud, 11 miles; Olean to Angelica, uarrow gauge, 38 miles; total, PO miles. In April 1889, the Lackawanna & Pittsburg Road was sQld in foreclosure and reorganized. Litigation in progress, and pending a decision of the courts the only portion or the road in operation is tllat . between Hornellsville· and W~yland, which is operated as the Rochester Hornellsvil-le &-Lackawanna Railroad, with Mitchell 8. Blair for receiver; and that portion between Bolivar and Olean, which is called the Lackawanna & Plttsburg Railroad, of which George D. Chapman is receiver, Stock, $2,800,000; par $100.-(V. 48, p. 688.) Lak~ Erle Alliance & Southern.-◊wns from Bergholz, O., to Phalanx, 0., 61 miles. Sold in foreclosure December, 1886, and reorganized, and again sold in foreclosure in Janua.1·y, 1891. ft.is proposed to extend the road east and north to Fairport, on Lake El'ie. i:;tock Is $2,000,000; par, $100. The1•e are $150;000 Alliance & Lake .l!.rie honds on road from Phalanx to Alliance, 21 miles. Ju July, 189l, the Alliance & Northern RK Company was incorporated, emu1·aciug that portion of the Lf1lrn Erie Alliauce & Southern Railway between A Uiauce and Phalanx:. Ohio. Jan. 1 to Nov. 30. - 1891, !!ro,i,i earuings, $68,428, again~t $61,865 in 1890: net earnings,. $}.2,9301 against . $10,365. (V. 53, p. 58.) JANUARY, RAILROAD 1892, l STOCKS AND BONDS. 'M AP OF THE KANSAS CITY, WATKINS &, GULF RAILWAY. C, o; . . ' . G https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis \ U . -· . CJt-v ·. ·_- . ,•. .L .F . . . o F 61 INVESTOJ:td' SUPPLEMENT. 68 [Vo-L. LIV. Subscribers -will confer a great favor by giving Im.mediate notice of any error discovered In these Tablel!I. l INTEREST OR DIVIDENDS. IBonds-PrinciRAILROADS. Miles Date Size, or Amount 1 - - - - - - - - - - - - - - - - - pal,WhenDue. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-Last on :first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. Lake Shore & Michigan Southern-(Ooncluded.)- Detroit Monroe & Toledo 1st mortgage, guar... c Kalamazo & White Pigeon 1st mortgage, guar.·. c Bat. Cr. & Stur. 1st M., g., & i. guar. (see M.Cen.) Sturgis Goshen & St. L. ls mort., g., p. & i. guar. Kal. Allegan & Gr. Rapids stock, 6 p. c. guar ..... 1st mortgage, guaranteed ...................... c Jamestown & Franklin (leased) lstmortgage .... c 2d mortgage ........... . ......................... c Mahoning coal stock .... . .......................... Preferred stock, guaranteed 5 per cent ......... 1st M., Youw_s, to And., and branches, guar . . c Lea,v. T<Yp. & S. .-lstM.,12guar.byAt.&12byUn.P. Lehigh & Hudson River-1st M. ,g. ,int.red' c'd to 5p.c. l ·ist 2d.Ms: Wa~~l¥!iiey & ($240;000 ·2cis;iiii2) Wawayanda RR ............... . .............. . ..... Leh. & Hud. River Consol.M.for $3,000,000,g .. C" Lehigh & Lackawannar-lstmortgaie . ............. c Lehigh Valley-Stock ($106,300 is Op. c. pref.) ... 1st mortgage, coupon and registered .............. 2d mortgage ....................................... r Con. M., sterling, /·,s.f.2 p.c.y'rly, dr'n at par.c&r do coup. an re§is .. $2,114,000 are 412s.c&r do annuity, $1, 96,000 are 412s . ............ Leh. Val. of N. Y., lstM.for$15,000,000g.gu.c*&r Lehigh Val. Terminal 1st M.gold \fuaranteed) ..... Pennsylvania & N. Y.-lst M. en . by Leh. Val.c* 1st mortgage, endorsed by Lehil;{h V~lley .... c* Gen. mort.,$10,000,000, guar.prm. &mt.(end.)r Easton & Amboy, 1st M.guar.Easton to P.Amboy Delano Land ComR,;any bonds, endorsed .......... Litchfi,eld Oarroll.& estern-lst M. ($10,000p.m.)c*- $924,000 62 1876 $1,000 400,000 1,000 37 1890 lg. g:p~i.dN~~ni!rt~l 79,000 .... 3 g. J. & D. and registered inDec. 1, 1989 41 1889 322,000 3 g. J. & D. terest by Union Dec. 1, 1989 29 1889 ·ioo 610,000 3 A. & 0. Trust Company. Oct. 1, 1891 58 840,000 1,000 5 J. & J. July 1, 1938 58 298,000 1,000 51 1863 7 J. & J. Var. toJ'ly,'97 500,000 1,000 7 J. & D. June 1, 1894 51 1869 50 1,500,000 42 512 F. & A. . Y., Gr'd Cent. Stat'n. Feb. 1, 1892 . ... 50 661,850 42 212 J. & J. N. Y., Union Trust Co. J a n. 1, 1892 --·1,500,000 1,000 5 J. & J. do do July 1, 1934 42 1884 1,000 1,380,000 4 g. J. & J. Boston. July 1, 1912 46 1882 800,000 1,000 5 J. & J. N. Y., Nat. Exch. Bank. July 1, 1911 41 1881 208,320 1,000 5 J. & J. do do July 1_., 1917 63 1887 385,000 6 A. ·& 0. do do 1900 & 1912 22 '79-'81 500 &c. 65,000 6 J. & J. .............. 1900 1880 ···569,000 5 g. J. & J. N. Y., Nat. Exch. Bank. July 1, 1920 1:000 63 1890 100,000 1,000 7 J. & D. Phila.,Fid.I.&8.Dep.Co. Dec. 1, 1907 26 1877 114 Q.-J. Phila., 228 So. Third St. Jan. 15, 1892 50 40,441,310 5,000,000 1,000 6 J. & D. Reg.atoffice; cp.Bk.N.A. June 1, 1898 ioi 6,000,000 1,000 7 M. & 8. Phila. Of., 228 So. 3d St. Sept. 1, 1910 101 1870 2,185,000 6 J. & D. do do Dec. 1, 1897 1,000 285 1873 1,000 11,490,000 4111 & 6 J. & D. Reg.atofflce;cp.Bk.N.A. Dec. 1, 1923 285 1873 1,000 5,839,000 412 & 6 J. & D. Phila.t Of.,228 So. 3d St. Irredeemable. 285 1873 9,950,000 412g. J. & J. no do July 1, 1940 1,000 1890 ·25 1891 1,000 7,000,000 5 g. A. & 0. do do Oct. 1, 1941 1,000 1,500,000 7 J. & D. Phila.t Bk. N. America. June 1, 1896 105 1866 1,000 1,500,000 7 J. & D. uo do June 1, 1906 105 1866 7,000,000 4 & 5 A. & 0. Phila., Lehigh Val. RR. Apr. 1, 1939 1,000 105 1888 6,000,000 1,000 5 M. & N. Phila.tOf.,228So.3dSt. 1920 60 1880 1,200,000 5 J. & J. uo do Jan. l; (t) 1892 1,000 ·52 1886 ],000 516,000 6 g. J. & J. N. Y., Am. Ex. Bk. Jan. 1, 1916 J: t 1: isss t::1: ½: 1~2g is6s From January 1 ti:> Sept. 30, 1891 (7 months), gross earnings were $40,677, against $37,080 in 1890; net, $6,711, against $5,390. In 1890 gross $68,009; net, $11,764. In 1889 gross $63,144; net, $12,463. -i.. M. Lawson, Treas., 102 Broadway, N. Y.-(V. 51, p. 680; V. 52, p. 164; v. 53, p. 58.) Lake Erle & Western Kallroad.-(See.Map.J-OwnsfromSandusky, O., to Peoria, Ill., 420 miles, and branch to Minster, 108 miles, and from Indianapolis to Michigan City, 162 miles; also Fort Wayne to Connorsville and branch to Rushville, 133 miles; total, 725 miles. Company formed in 1887 after foreclosure (on December 14, 1886,) of the Lake Erie & Western Railway. In March, 1887 purchased the Indianapolis Peru & Chicago Road, 162 miles, and in June, 1890, acquired the Fort Wayne Cincinnati & Louisville. (See CHRONICLE, V. 50, p. 590.) The terminals at Indianapolis, Peoria, Fort Wayne and New Castle are operated partly under lease. This company proposes to build the Indiana_polis & Northwestern from Muncie to a point on the Indianapolis Division, to make a direct line from Sandusky to Indianapolis. See V. 52, p. 497. Abstract of:tirst, mortgage (Central Trust Company and A. L. Mason, trustees), in V. 46, p. 45. In June, 1890, it was voted to authorize $3,625,000 of 2d mortgage bonds ($5,000 per mile) and $1,500,000 were afterwards sold dated June 30, 1891, but the issue not known to the public till Oct., 1891. The trustees of this mort. are Cent. Trust Co. of N. Y. and Robt. C. Bell of Ind. Dividends on preferred stock-In 1890, 4 per cent (1 per cent quarterly) ; in 1891, 4; in 1892, Feb., 1 per cent. Price of common stock since reorganization-In 1887, 131il2412; in 1888, 12121ill918; in 1889, 161i> 203s; in 1890, 10121i>197s; in 1891, 1212@2418; in 1892, to Jan. 22 inclusive, 20 14@23 7s. Price of preferred-In 1887, 3934@61; in 1888, 4014'w55 7s; in 1889, 513s1il6614; in 1890, 441il68; in 1891, 53 'w70; in 1892, to January 22, inclusive, 69 14@7412. From January 1 to Nov. 30 (11 months), in 1891, gross earnings were $2,959,535, against $2,794,795 in 1890; net, $1,292,931, against $1,136,111; interest, rentals, etc., $474,529, agains t$436,493; sU1·plus, $818,402, against $699,618. The annual report for 1890 was in V. 52, p. 497. In the following the figures for both years include the Fort Wayne Ci~iw-9.ati & Lont'rille. Gross earnings ................................. $ 2 , 839 , 278 $ 3 074 438 ·, , Net earnings .... .. ....... . ..................... . $1,116,249 $1 ,275,656 OPERATIONS, FINANCES, &c.-The road is greatly dependent OD through traffic, or traffic from competitive points. Nothing has been charged to construction or equipment acoount sinoe 1883, the outlays therefor charged to operating expenses amounting in 1891 to $1,330,000, this being exclusive of expenditures for renewals. For the year 1891 (December partly estimated) the income accouni was as follows, in comparison with the 1890. 1891 ( Est.) 1890 ( Actual.) Gross earnings ............................ $21,460,000 $20,865,759 Operating expenses and taxes. . ...... . ... 14,652,800 14,220,481 Per cent.................................. (68·28) (68·15) 6 807 200 Inte~!!t~~~i:1~1:. aiici. dividends ·o:o.· gu.ar: $ ' • anteed stock................ . . . . . ........ 3,340,000 $6,645,278 Balance to stock.................... . .. $3,467,200 $3,300,543 ($6·67) 2,967,990. Equals per share...................... Amount of dividends at 6 per cent...... . 3,344,735 ($7·01) 2,967,990 Surplus................................. $499,210 ·$332,553 The annual report for 1890 was published in v. 52, p. 716. OPERATIONS .AND FIBCAL RESULTS. 1887. 1888. 1889. 1890. Mile e ted 1 341 1 342 1 410 1 445 s op ra · · ·· · · • , , , Total gross earnings $18,710,962 $18,029,627 $19,487,196 $20,865,760 Net over ex. &t!J,xes ... $7,681,164 $6,719,256 $6,639,744 $6,645,279 58 95 62 73 6~ 93 68 15 p f t , .c.o op.ex. oear gs n.c~ME ACCOUN~. o· · Receipts1887. 1888. 1889. 1890. Net,i.:Rcl. oth. inc'me $7 811163 $6 939 148 $7 022 285 $7144 037 lnsl>Ursements- ' ' ' '· ' ' ' ' R t 1 ·d $449,313 $517,418 $507,645 $ 564,419 rnetenres a \pai d ..bt··· ·· 3 276 140 3 257 515 3 245 015 3,22'-,72'> on e · .... , , , . , , , ~ ., 53 35 53 35 53 35 53 , 3 50. Divid's on guar. S'k. , o , o , o Total disl:?9s_em'ts $3,778,803 $3,828,283 $3,806,010 $3,843,492' 1 3 ,110,865 3,216,275 3,300,545 S~rplus for dividend 4,03 2, 3 6 0 -.u1v1Jeuds •....•..... (4 )1, 9 7 8 , 6 6 0 (5 ) 2 ,473,325 (5)2,473,325 (6)2,967,990 DeductBalancP. ............ sr.$2,053,700 sr.*$637,540 sr.$742 ,950 sr.$332,555Interest on bonds............ ...... ... . . . .. .. . . 303,000 332,750 -(V. 50, p. 314. 659,703,736,904; V. nl, p. 240, 747,909; V. 52, p. Taxes and rentals.. . ............. . .. .. . . . .. .. . 139,320 146,503 -280, 321, '116, 761, 796, 973; v. 53, p. 289, 968.) Dividends ............. . . . ... . ............. .. . .. (1%)118,400 (4 %) 473,600 Leavenworth Topeka & s. W .-Owns from Leavenworth to Meriden Junction, in Kan.ias, 47 miles. Opera.t ed as part of the St.. Surplus.••··•·•···•••···• ••·····•···•······· $555,519 $322,803 Joseph & Grand I sland Division of the Union Pacific, its stock ($1,· Calvin S. ·B rice,· New York, President.-(V. 52, p. 497; V. 53, 407, 380,000) being owned one-half each by Uuion Pacific and Atchison 568, 604, 712.) Topeka & Santa Fe. Of the bonds $690,000 are guaranteed by Union Lake Shore & Michigan Southern.-( See Map New York Oen- Pacific, the balance by Atchison. In 1890 gross $30,993; deficit from tral d Hudson River.J-Owns from Buffalo, N . .Y., to Chicago, Ill., 540 operating, $53,035, (against $32,280 in 1889) ; deficit under charges,. miles; branches, 319 miles; total owned, 859 miles. Proprietary lines $118,507, against $97,632 in 1889. (entire stock owned) Detroit & Chicago, 68 miles; Detrmt Montreal & Toledo, 62 miles; Kalamazoo & White Pigeon, 37 miles; Northern OenLehigh & Hudson Klver.-Owns from Greycourt, on Erie Road tral (Mich.) 1 61 miles; Sturgis Goshen & st. Lonis &c., 36 miles; to Belvidere, N. J., 63 miles. Proprietary line-Hudson Junction t.o total, 263 IDJ.ies. Leases Kalamazoo Allegan & Granu Raprns. 58 miles; Maybrook, N. Y., on line to the PougLkeepsie .Hrid~e, 11 miles; track• James:. wn & Franklin, 51 miles; Mahonlng Coal RR., Youngstown to age Pennsylvania RR., Belvidere to Phillipsb1ug, 1;1 miles; other mileAndover, o., and branches, 50miles; Detroit Hi11shoro& southwestern, age, 3 miles; total operated, 90 miles. ln August, 1888, the Central 65 miles; Fort Wayne & Jackson, 98 miles; total, 322 miles. Total road of New Jersey purcha,..ed aho11t one-tblrd the company's stock, and· owned, leased and operated Jan. 1, 1891, 1,445 ruileR. this, with the ,-1tock held hy the Lehigh Coal & Navi!i~ltion Co., oontrol& ORGANIZATION, &c.-Thls company was u. consolidation of the Lake the road. !1? 1ultlitiou to a.l,ovA houds there are $05,000 Wawayanda Shore RR. and Michigan Southern & Northern Indiana RR., May 27, 6s (J&J), dm, H.100, aud $40,000 6 per cent car trustR. Stoc)f, $1,340,· 1869, and the Buffalo & Erie RR., August 16, 1869. The Mahoning 000; par, $100. Tl11-l general morti.mlo{'e for $::J,000,000; ftrwtee. Central Coal RR. is leased in pei·petuity at 40 per cent of gross earnings, and Trm,t Company of New York), coven; the Btock of the proprietary lim,, its preferred 11tock a11d bonds guaranteed. Lake Shore owns $865,900 a,ncl $1,75 11 ,000 hond"' are re:-crved for prior honds when due. of its common and $399,500 of its preferred stock. The N. Y. Chic. & From July 1, 1891, to Nov. 80, 1891 (5 mouths), gross earnlui:s were St. Louis (Nickel Plate) road has been controlled by ownership of $176,484, al,!aiuilt$164.,118 in 1890~ uet, $83,984, against$61.8:33. 1tock &nee 1882, Lake Shore now owning $6,240,000 of its common, lu year eudinK J1rne 30, l891, gro. s earnings were $381,703; net.. $6,275,000 of its 2d preferred and $2,503,000 of its 1st preferred stock. $t43,4a6;. interest on dt>bt, $111,143; surplus, $8~,704. Grit111ell The company owns also (besides the entire stock of the proprietary Burt. Pre111dcnt, 80 Broadway, N. Y. City. (V. 50, p. 353; V. 51, p. lines) $2,675,696 l'ittslurg & Lake Erie stock and $169,100 common 494,715,787, 90 8; V. 52, p. 280, 762; V. 53, p. 8'79,) and $774,400 preferred Cleveland Lorain & Wheeling. Lehl•1 lt Vallf'Y .-r See .11up)-Main line, Perth Amboy, N. J., to Gell!" STOCKS .AND BoNDS.-The stock has remained at $50,000 000 since eva, N. Y., 3-10 mtltiR; branches to Audemied, Tomhioken, Hazleton. 1871. The guaranteed stock of$533,500 carries 10 per cent dividends. &c., 408 mifos; SoutheJ;'ll Central RR., 114 miles; State l,b1e & Sullivan Dividends on common stock since 1876; in 1877, 2; in 1878, 4; in RU., 24 miles. Total system, November 30, 1890, 886 ruile;1; t1econd 1879, 612; in 1880 1881, 1882 and 1883, 8 per cent each year; in 1884, track, 305 miles. Trackal,!e: Pennsylvania Railroad, 50 miles; 7; in 1885 and 1886, nil; in 1887 and 1888, 4 per cent; in 1889, 5; in New York Central, 15 milei;; Erie, 188 mile!'.\; CuutraJ of New Jersey, 1890h5; in 1891, 612; in 1892, Feb., 212 and 1 extra. 21 miles. Company expectl4 to owu a through liue from Nt.•w York to :Ma oning Coal common stock paid in 1889 412 per cent; in 1890, 5; Buifalo by July 1, 1892. (See V. 50, p. ~34.) In September, 1891, the in February, 1891, 4.12; in 1892, Feb., 5~. Lehigh Valley Terminal RR. Co. was formed by consolida,tlon of sev• PRICE OF STOCK.-In 1880, 95'ivl391!s; in 1881, 11~135¾; in 1882, 98 eral controlled properties aud tbf mortgal,!e for $10,000,000 created. @12018; in 1883, 92:\i'ivl14 7s; in 1884, 5912'ivl04¾; 1111885, 50~·@89 70; The consolidatea.mor_tgage or 1873 (trul'!tee, l<'idclityinsurance, Trus• in 1886, 7618@10038; in 1887, 89'iv98%; in 1888, 85 14'ivl-04 7s; in 1889, & 8. D. Company of Phil.) i;,i for $40,000,000, of which $12,000,000 are 99l\@10812 ; in 1890. 1011il11418; in 1891, 10512x@127; in 1892, to reserved to retiI·e $11,000,000 prior liens wllen due. The bonds nre Jan. 22 inclusive, 120@12312. issue1l in three series, of whic-ll the sterli11g is,me, "class A," is subject to Interest on tht, consolidated first mortga$e is paid on coupon bonds call at pa-:r ill increasmg amo1u1ts each year, $2uH,OOO being the amoun1i J. & J., on registered bonus Q .....J. payable in 1891. A second series is cmuvo~ed of the" coupon and re,:The first consolidated mortgage bonds are redeemed each year by istered" bonds, which are not subject to call, but which prior to Neff, $250,000 contributed to the sinking fund. The above bonds of all 13, 1893, may be converted at option of holders into bonds of the tllird olasses outstanding are given less the amounts held in the sinking series, these last being annuity bonds and inedeernab-le, never falling; funds, which amounted to $5,250,000 June 30, 1891. due except in case of default. All these issues are equally secured. , https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I a c= r:.n ~ z 0 cq A • z ~ 00 ~ 0 0 ~ r:.n ~ 0 ~ ~ ~ -, i t ~ j https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE LAKE ERIE & WESTERN RAILROAD p: i-4 ~ J ~ __. MAP OF THE LEHIGH VALLEY RA_ILROAD AND CONNECTIONS. ~ ~ z ~ ~ ~ ~ p u... U1 ~ 0 E-4 U) ~ z "--➔ ~ ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J.A.NUARY, 1892.j Tl RAILROAD STOCKS AND BONDS. Subs cribers will confe r a g r e at Cavor b y giv i n g i mmediate n o t ice o f any e rror discove r e d In th ese Tables. INTEREST OR DIVIDENDS. Rmuts-PrinolDate Size, or Amount - - - - - - - - - - - - - - - - - pal, When Dne. of of Par Outstanding R ate per When Where Payable, and by Stocks-Last _______o_n_tt_rs_t_p_a_g_e_o_f_t_a_b_l_es_._______ _R_o_a_d_. _B_o_n_d_~ _v_a_lu_e_._, ______, ~ _P_a_ya_b_l_e Whom. Dividend. RAILROADS. ---------------------1 Miles I F or explanation of column headings, &c., see notes 1 L ittle Miam~Stk. com., gu. 8 p . c . 99 yrs.P.C. &St.L. Street con. 1st & 2d Ms. (.itly. with Cin. & I. RR.) .o Renewal mortgage ................................ o Com-et·tible bonds for $3,0 00,000 . .... . ..... ...... Little lluck re Me,nvhis-.F'irst mortgage, gold ...... c Little Sch-uyl/c-ilt-Stock . ... . . . .. . . . ... . . . . .. . . . . ... . . Long Island-Stock ... ............................... 1st mortgage, main line .......................... o* 2d 1nortgai,.:-e . ........... . ............ ........ .... . c* Cont<ol. 1\1. ~- ($1,390,000 reserv'dforpriorb'ds)c* Genernl mortgage, golcl. ... .. ..... . .............. c* New YorlI & Flushing lflt mort~age, assumed... . Brooklyn & Montauk 1st M., $2.J0,000 are 6s... c* Second mort~age, aflsurued (for $600,000), g.c* Loni( Iflland City & FluAhing 1st M,. assurued .. c* Con,.ol. mortgage, gold, assumed .............. o.. New York & Rockaway 1st mort., guar. int. only. Smithtown & Port Jeff. lHt M., gnar. priu. & int. I,omsitina Western-1st mortgage, gold............. :Louii,'V. Evansv. cf: St. L. Consol.-lst mort.E. R .&E. L. E.& St. L.lstM.,g.,(lston 182m.,2don 72m.)c* 2d mortg-a)!e, gold, unas11ented .. .. .... . .. ..... c* Hunt. Tell. City & C. RR. lAt mort. gold, guar.c* Illinois & St. Louis 1st mortgage ................ c* Venice & Carondelet mort)!age, guaranteed .... c* Cou:,olidated mortgage, gold ($8,000,000) ...... c* Ky. & Ind. ~~·idge, lst_~ortgage.... ............. . £ ouisville cf: Nashville-Stock ..... ::::::::::::::::::: Lebanon Br., jnnc. to Jellico, Louisville loan . . . c* Consol. 1st M. (prior liens are ouly ~3a3,000) .. c* l\Iemphifl & Ohio lAt M., Parifl to Mem., gnar .. c* Mem.Clarlni.&L.lflt.M .• £,n-nthrieto P a ri~.Tnm. c* . .. . 5 2_ 2 186 4 8 84 1882 .... .... 135 1887 28 .. _. .. . . 94 158 180 180 .. .. .... 1868 1878 1881 1888 1880 1881 1888 1881 1887 1871 1871 1881 1881 1886 1886 1887 1875 1880·2 1889 .... :::: 171 419 130 83 :::: 1863 1868 1871 1872 2 76 76 23 23 ... . 19 112 72 182 182 24 20 386 $50 $4,943,100 2 Q.-M. Cinn.,Offlce, 1st Nat.Bk. 1,000 525,000 6 Various 1 do do 1,000 1,500,000 5 M. & N. N. Y., Bank of km.erica. .... None 7 ..... . .. _. _.... 1,000 3,250,000 5 g. M. & 8. N. Y., Central Trust Co. 50 2,487,850 3~ J. & J . Phila., Of., 410 Walnut 50 12,000,000 114 Q.-F. N. Y.,CorbinBank'gCo. 500 1,121,000 7 M. & N. do do 100 &c. 268,703 -7 It. & A. do do 1,000 3,010,000 5 g. Q.-J. do do 1,000 3,000,000 4 g. J. & D. do do 1,000 125,000 6 M. & S. do do 1,000 1,000,000 5 & 6 g. M. & 8. do do 1,000 600,000 5 g. J. & D. do do 1,000 600,000 6 M. & N. do do 1,000 650,000 5 g. M. & N. do do 500 250,000 7 A. & 0. N. Y., CorbinBank'gCo. 500 600,000 7 M. & 8. do do 1,000 2,240,000 6 g. J. & J. N.Y., 8. Pac.Co., 23 B'rd 1,000 900,000 6 J. & J. N. Y., Security &Tr. Co. 1,000 1,950,000 6 g. A. & 0. do do 1,000 670,000 5 to 6-g. A. & O. do do 1,000 300,000 6 g. A. & 0. do do 500 200,000 8 J. & D. do do 1,000 300,000 6 Various do do 1,000 3,795,000 5 g. J. & J. do do .... 450,000 6 ..... . ........ . ·ioo 1,000 1,000 £200 £200 I 5~:i88:888 333,000 6,806,000 3,500,000 2.01:1.660 ~lg F_- ·&: ·A. 6 A. 7 A. 7 g. J. 6 g. F. N. Y.; 23 Nassa. 11 St. & O. do do & do do & D. London and New York. & A. <lo no 0.1 Dec. 15, 18~1 1894-1898 Nov. 2, 1912 Sept_- ·c.i937 Jan. 11, 1892 Feb. 1, 1892 May 1, 1898 Au~. 1, 1918 July 1, 1931 June 1, 1938 Melt. 1, 1920 Mch. 1, 1911 June 1, 1938 May 1, 1911 May 1, 1937 Apr. 1, 1901 Sept. 1, 1901 July 1, 1921 Jnly 1, 19:!l Oct. 1, 1926 Oct. 1, 1936 Oct. 1, 1927 June 1, 1895 1900- 1902 July 1, 1939 Feb:·¥;·i892 Oct. 15, 1893 Apr. 1, 1898 June 1, 1901 Aug. 1. 1902 The Lehigh Valley Railway Company of New Yorlc owns a road Regular train service b e tween Brooklyn and Long Island City and which exi;tmds from Butfalo, N. Y., to Sayre, Penn., i83 miles double Boston IJy transfei• ;,teamers acros;, the Sound and, ,Tia tile Housa• ·track. Tl.te company's s tock is all owued by the f,ebigh Valley Ull., I tonic RR. to Hawle_vville. Conn., and tlleuce via tile N. Y. & N. E. to which guamutet's prmcipal and interest of the 412 pe L· cent hourls of Bos ton went into effect September 21, 189 L 1890, this ~uaranty being- enuorsed ou the bondf\. Trustee or mortThe Ceutrnl '.rntst Comtiau,y is tm,;tee of the general mol'tga,g e of · .gage, Girard L ife Insurance Company, Pllihulelphia. (::;!:le mortgage 1888. Tlrnrn al'e al'lo $2!1,700 rnal e'-t,~te moL·t~a~~ 5'1 to 7;,,. abfltract V. 51, p. 114.) Dividends since 188 1-In 1882, 1; from 188::J to 1890. hoth inclusive, TheLehigh Valley Terminal R ailway owns the roads from South Plain- at the rate of 4 per cent per amrnm; in 1891, 412; in 1892, Feb., 114. field, N. J ., to Jer;,ey City, with ab1111t li5 acres at J e rsey City aml a, P1·ice or Stock-[11 L8H, 5·Ho::3 tP4; in 1881, tH@7,;~; iu LddJ , t:i'J1b large water front therl:l and other property, and its stock of $-3,:348.000 80 7s; in 1886, 80@100; iu 18'37. 85@9!)34; in 1838, 8 7 ~ii>H .1: in 18~!l, isowne<I hy the Lehi~h Valley RR. (See V. 53, p. 640, 8130.) Tile mort · 8P12@9612; in 1890, 821.v95; in 1891, 861.v99 14; in 1892, to Jan. 22, ~age is for $10,000,000, covering the road and t erminal property; Cen- incln,1ive, 951.vH712. tral Trus t Co. of New YoL·k, trustee. July 1 to Sept. 30 gros,s earn. w ere$1,469,926in 1891 , agains,t$1.425,Tlle PennRyl vania. & New York Canal & Railway is leased for 99 years 722 in 1890; n et $36 l, 1 3 l, agaiu,;t $836,550; SUL'plus ornr cltarges .from December 1, 1888, to Lehigh Valley, whicll has assumod its debt $463,836, against $139,400 . .and owns all its stock. Uuder its general mortgage of 1889 (trustee, l!'i,;cal yeaL· eud,; .T trnl:l ::1u; the 1890-91 r eport wa11 in V. 53, p. 435. In -Girard Life Insurance Cornpt1ny) sulticient bouds are rc,;erved to take the fo llowin!4' statement tile tb5uL•e,i foL' 1839-9 allll 1890 91 are for l'ear up pl'ior bond:; wlleu due. L ellig-h Valley also ~uarantees interest on ending June 30, all othel's for y ear· eurlin~ September 30. . INCOM:I!: ACCOUNT. ,certain Re(mritieR of the l\:Iorrh, Canal. (See tllat company under mis· cell,1neo11s.) There is an importaut contract for supplying tile city of 1887-88 1888 ·89 1889·90. 1890-91 . .Ne,~aFk wit.h water. (See repor~ V. 50, p. 137.) $ · :,; · $ $ D1v1dernl;, on common st.oclt s mce 1880-Iu 1881, 512; in 1882, 612; Gross e"rni·n~s 3 403 996 3 477 989 3.68:S,769 4,061,899 0 1n 1883 and 1884, 8 ; in 1885 , 6; iu 1886, 4; in 1887, 412; from 1888 '". ' •~ ' • • • •• • •• ••• • • • -to Jannary, 1892, both inclusive, 114 per cent quarterly, being at rate Net earnmgs (less taxes) .. 1,180,666 1,200,119 1,281,639 1,401,383 -Of 5 per eent yearly. Dellnct. . 492,636 464,567 3 4 1.628 Price of comruon stock in Philadelphia-in 1884, 571v717s; in 1885, Interest, less mt. received. 15!,75~ 175,582 254,0J4 172,6!5 :5412@6114; in 1886, 55141.v62; in 1887, 5318 1v57¾; in 1888, 5 112 @ R~ntals •·····.············ •· 3~y,0~3 577A; in 1889. 521i!fi5; in 1890, 471i2@54Is; in 1891, 457stil5114; iu M.is~ellaneous •· ···· •····· • 6.'3,0b7 1892, to Jan. 22 inclu ~ive,50141.v5112. D1v1dends. .. . .. .. . ......... 400,000 The tiscal year e nrts NovemlJer ao. The last annual report was in the Total disbursements ... 1,096,300 1,141,170 1,2:27,609 1,148,218 CHRONICLE, V. 54, p. 158. INCOME ACCOUNT. Surplus.......... .. ........ 180,7-!7 16-1,468 16-1,427 253,164 1888-89. 1889-90. 1890·91. V. 52, p. :LtW, 571,608,707,718,882; V. 53, p. 95. 368, 415.) $18,910,261 Gross receipts .............. $16,649,056 $17,432,007 Louisiana We tet·n.-(Sce Jfap of Sotilhe,·n P,tcittc.)-OWLLS from 13,075,910 Lafayette, La., to Orau!{e, '.re~rns, 112 mile,;. Operated uuder lease by Operatingexpenses ......... 11.393.475 11,951,771 _tile t!ontllel'll Pacific Compan.v, oeiu!4' p .~rt of tlte through line het,veen Total net income ....... $5,255,581 $5,480,235 $5,834,351 New OL'leau,- aud Hou;;tou. The le,;see pays all charges and t1trm1 over Disb-iirse1ne1itsto tllis company 7 per cent or the total n e t pro lits of the Southern lnterest on debt . ...... ... .. $2,168,571 $2,651,120 $2,817,240 Pacific Comp ,my, umler ttie omuibu,i lea-ie. 694,258 723,510 -Gen'l expeuses, incl. taxes. 945,768 From .Tanuary 1 to Nov. ao, 18~1 (11 months), g ross earninirR were 2,027,370 2,070,370 $956,808, against $1,072,794 iu 1890; n et, $399,210, against $544;,422. Dividends .... ........ . .. . . . 2,018,202 In urno, )sl'OSS, $l,l60,a::1 L ; u e t, $ -3 86,09.t; suq1l1LS OVl:ll' cbu.L·.~ es, $134,Total disbursements .... $5,132,541 $5,372,748 $5,563,120 558; amount or net pL·ollt dtte tt1is compan.v a,; peL· le,1,-ie, $17-.t,, 1_9 9. In Ealance, surplus............ $123,040 $107,487 $266,231 1889, gross, $1,101,569; net. $B6,9SL Stock is $3,36 (),000 (par $100), -(V. 51, p. 20, 51, 114, 614,680; V. 52, p. 162,463,761,974; V. 53, all but$50,000 of wbicl1 is O\V-uecl by Soutllern Pacitic Co. p. 289,640,880; V. 54, p. 33, 158.) Louisville Evan sville&: St. Louil!! Conl!lolidated.-'See Jlap L ittle Mlarnt. -Owns from Cincinnati, 0., to Springfield, 0., 84 of Evansville cf: Terre Hattie Railroacl.J-Opcmtes from Louisville, Ky. , miles; branch, Xenia, 0., to Dayton, 0., 16 miles; leases, Columbus & to East St. Louis, Ill., 275 miles, witl1 branc hes to Evansville, RockXenia RR., Xenia, 0., to Columbus, Ohio, 55 miles; Dayton & Western port, Canneltou, etc., in Indiana, 93 mile;,; total, 368 miles. Also owns RR., Dayton, 0., to Indiana State Line, 38 miles; Ohio State Line to Veuice & Car·ont.lelet Railway, leased to East 8t. LouiR Counectin~ Rail · Richmond, Ind., 4 miles; Cincinnati Street Connecting RR., 2 miles; way, 7 miles. Of tile main line the tollowi1115 poL·tions are operated uu,ler trat.ikage rights: Lonis villA to New Albany, 6 mile,;; Walnut Hill total operated, 198 miles. Ou December 1, 1869, lea.Red to the Pittsburg Cincinnati & St. Louis to Ceutntlia, 712 miles. Tile line from Belleville to Centralia, Ill., was lor 99 years, rnnewable forever. Tile Pennsylvania Raih·oad Company completed in June, 1890. Tills company is a consolidation made in 1889 of the Louisville Is a party to the contract and .,.uaranteei,1 its faithful execution. Road ts now operated uy Pittsburg ?Jincinnati Clticago & St. Lonis Railway Evansville & St. Louis and several other companies. It belongs to the Jompany. Rental is 8 per cent on $4,9-!3,100 and interest ou debt. .. !.\-fat.ilrny" Bystem. See application to New York Stock Exchange in .Lll addition to above boud.s tl.tere is $100,000 6 per cent permanent rull in CHRONlCLE, v. 50, p. 876. Uut.ler tile consolidated mortgage (New Yori{ Security & Trust Com,capitalized debt; interest January and July. Le,;see's report fol' this ~oad shows net loss to lessee: In 1886, $468,680; in 1887, $~98,405; pauy and JoseI,1llus Collett, trustees), $a,700,000 oouds 1.u-e reserved to in 1888, $421,355; in 1890, earnings, $2,081,822; net, lncluding income rntire at maturity the several issnes of prior tirst mortg-a)!e bondR, and from investments, $346,945; net loss to lessee, $384,451, against $500,000 to t·etire at 75 the $670,000 unassente<l second mortgage bonus. (See abstract of consolidated mortgage in V. 4~, p. 208.) Tile $385,873 in 188H. The Little Miami Co. does not admit these losses. In January, 1890, stockholders voted to autbol"ize tlll:l i:;s ne of $3,000,· ~l:lmmd mortgage bonds bea,r 5 per cent interes t in 1892 and 6 there000 7 per cent oonds (to be i:,sueu to tlrn les;,ee from time to time in after. Common s tock issued, $3,440,747; preferred, $1,295,,rn2, 5 per payment for bettennents), and also $3,000,000 stoclt, into wltich tilt> ceut, non-cmuulativl:l; par, $100. In Sept.• 1 891, President D. J. Mackey purchased 51 per cent of the bornl s hall be convertible. Negotiations witll lessee a.re l'ltill pending, .and no convertible bonds had oeen iss1ted prior to Marcil 15, 1891. $2,000,0UO stock of tile Ky. & fnd. Bl'id~e at Lo1tis ville, assmnin!{ the debt and guaranteeing 8 per cent on the $980,000 minority stock and ·-(V. 49, p. 300, 434, 580, 789; V. 50, p. 71, 174; V. 51, p. 51. L ittle Rock &: IU e u1pb.is.-Owns from Little Roel{, Ark., to Mi;,sis• as,;uminir fixed charges of $127,000. But tl1is wa-1 not accepted by ,sippi River, opposite Me mphis, 135 wileR. Tile l\:Iempllis & Little Rock stocltholders and another arrangement was authorized by tllem. (See Road was so ld in foreclos ure in 1872, again in 1877 aud again in 18~7. V. 53, p. H68.) From July 1, 1891, to Nov. 30, 1891, surplus over fixed charges £tock, $3,250,000; par, $100. From Jan1tary 1 to A.1115. 81, 18H l, gross ; ~arnings wel'0 $109,9 16, a_gai n st $3;Hi,~2tl. For three moutlls ending was $64,000. Fi>1t.ial year ends June 30. For year 1890·91 r eport was in V. 53, March 31, 1R9l, gro,;s, $182,368; n e t, $ ,>6,707. Iu 1890 g-roR,; ea.rnp. 878 . .ings were $621,630; uet, $188 ,707; intere,;t on debt, $159,500; sur1890·91. 1888-89. 1889·90. plus, $29,207. Rudolph Fink, P1·esideut, Memphis, Toun. 375 Miles operated................... 373 373 Louo- .lsJand.-OwnR from Loug Island City, N. Y., to Greenport, $1,Hi9,412 $1.484,574 Gross earuings . . ..... .. . .... . . .. $1,127,039 N.Y.,94ruiles; Lon~ I slaud CitytoGreatNeck,14mileR; Buflllwick $416,31S $!84.,9::W ,to Sag Harbor, 98 Illiles; branches, 81 mile:,; total owned, 287 mile,;. Net earnings............. . ...... $330,:591 a4,635 LeaRes Smitlltown & Port Jefferson RR., 19 miles; Stewart's RR. tu Other receipts.................. 29,586 Bethpage, 14 miles; Stewart's RR. t Hempstead, 2 miles; New Yorl< $484,920 .& Rockaway RH.., 4 miles (and 5 wiles uno11eratcd); Brooklyn & Jamaica Total net income........ .... $360,177 $!50,953 RR. 10 miles: New York Brooklyn & M.anllattau Beach Railway aw.I Interest on bonds . . . . . . . . . . . . . . $2iH,365 $432,800 $329,618 branches , 20 miles; total leased, 69 mile . Total of all, 356 milefl. 44,808 Rentals and miscellaneous..... 14,155 17,724 Thl:l control or tile compauy was acq1tired in December, 1880, by the Jc Long Lflland Corupauy, .. contl'Olled IJy Mr. Austi'tl Co1·bin and others. $265,520 $347,342 $477,608 In July, 188 1, the s tock was increased t'r·oru $3,260,700 to $10,000,· $94,657 $103,till $7,312 -000, and afterward in 1889 to $12,000,000 iu order to absorb the Balance, surplus................ Brooklyn & Monta.uk. -(V. 50, p. 107, 834, 874, 876; V. 51, p. 679: V. 53, p. 4.74, 8 7 ~, 968. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. MAP OF THE OUISVILLE & NASHVILL RAILROAD SYSTEM. • [VOL. LlV, JANUARY, 1892,J 73 RAILROAD STOCKS AND BONDS. Subscribers -will confer a great favor by giving iuunediate notice of any error discovered in these Tables. Bonds-Princi INTEREST OR DIVIDENDS. RAILROADS. Due Miles Date Size, o, .A.mount Rate per When JWhere Payable, and by pal,When of Par Outstanding Stocks-Last For explanation of column headings, &c., see notes of Road. Bonds, Value. Cent. Payable Whom. Dividend. on first page of tables. I I 1 Louisville & Nashville,-(Continued.J46 Cecilian Br.lstM.,Cecil.to Louis.,s.f.,dr'nat 100.c• E. H. &N.lstM.,HendersontoNash.,dr'natllO.c* 135 Louis. & Nash. general M., gold, drawn at 110.c* 802 lo-40 Adjustment M.,g. (red'mable aft. 1894).c* 785 L. C. &Lex. lstM.,s.f.(notdr'n)Louis.toNewp't.c* 175 2d mortgage, sinkinf fund, not drawn ........ c* 175 Lou. & Nash.bonds, S. N . .A.la. RR., 2d m. as col.o* 189 45 Pensacola Division 1st m., g. (drawn at 105) .. c* N. 0. & Mobile Div. 1st M., N. O. to Mobile, gc* 1~ 2d M. , N. 0. to Mobile, f····················c* i'U Southeast & St. L. Div. ls Mort.,1£.···· ........ c* 208 2dM., g., East St. L. to Evansv· e & br .... c* 208 Gen. mort. L. C. & L., gold ... . ................ c· 175 1st M. (50-year 5s), g., $15,00~.m ...... . .... c• 118 1st mortgage, collat. trust ($7, 0,000), gold.c• Unified mortga~e for $75,000,000, gold .... c*&r 1,079 Pensacola & At an. 1st mortiage . . .. . . ......... Henderson Br. Co. 1st M., g., rawn at 105 . .. c* .... £o,uisville New Alb. & Chic.-Stock (for $12,000,000). 1st M. Lou. Div.-New Albany to Mich. City .. . c .. 288 1st M.li~old, Chic. & Ind'polis Div.,Chic. to Ind.c* 158 Conso · ated mortga~e gold (for $10,000,000) .c* 512 G~neral mortlf,age, o d, $25,000 p. m . . ......... c* 512 797 Louisi,. N. 0 . & Tex.- st M., g., for $16i900,000 ... c 2d mort. income bonds, cum. (payab eat 105) .c* 797 Income bonds (not cumulative) ......... . ......... 797 £oui81'ille St. Louis & Texas-1st M.,g.,$2,800,000.c* 121 121 ro~~~!~ar<liiisburg· & wesierii.isi iiiorigaga: 42 1 1877 $1,000 $825,000 1879 1,000 2,240,000 1880 1,000 11,563,000 1884 1,000 4,531,000 1867 1,000 2,850,000 1877 100 &c. 892,000 1880 1,000 1,960,000 1880 1,000 580,000 1880 1,000 5,000,000 1880 1,000 1,000,000 1,000 1881 3,500,000 1881 1,000 3,000,000 1881 1,000 50,000 1,764,000 1887 1,000 5,129,000 1888 1,000 1890 1,000&c 7,750,000 .... .... 2,000,000 1881 1,000 1,838,000 9,600,000 100 1,000 3,000,000 1881 1,000 2,300,000 1,000 1886 4,700,000 1,000 1890 2,800,000 1886 1,000 16,132,000 1886 1,000 8,851,000 1886 1,000 10,000,000 1887 2,440,000 1.000 1,000 1887 250,000 1889 1,000 630,000 isso Louisville & Nashvllle.-(See Map.)-LINE OF ROAD.-Main line -Cincinnati, 0., to New Orleans, La., 921 miles; St. Loui'l! to Junction 10.ear Nashville, 398 ; Memphis to Memphis Junction, 259_(to Cincinnati, 487); branches. (mcl. K en. Cent. RR.) 1,010; total mileage June 30, 1.891, 2,498 miles. The above mileage (2,4 98 miles) is owned absolutely or through stock. [n addition leases the Nashville & Decatur RR. (Nashville to Decatur, 119 miles with other lines, 24 miles) 142 miles, and the South & North Alabama RR. (Decatur to Montgomery, 183 mil~s, and branch, 6 miles), ~ i~e~1!~ for account of that company, makmg total L. & N. system 8 'Also ope;ates under lease for account of various companieA 87 miles. -Owns the Cecilian Branch (leased to Chesapeake Ohio & Southwestern), 46 miles. Controls, by ownership of a majority of stock, the Nashville Chattanooga & St. L. RR., 810 miles; the Owensboro & Nash. 89 miles; ithe Nashville Florence & Sheffield RR., 94 miles; and Henderson Bridge and connecting tPack, 10 miles-total, 1,002 miles; also, as joint lessees with t he Central of Geor~a, is interested in the Georgia RR. and -its auxiliaries, 721 miles. Grana total of roads owned leased and con1rolled by ownership of stock June 30, 1891, was 4,708 miles. A line connecting with the Clinch Valley Division of Norfolk & Western was completed in June, 1891. In June, 1890, the Nashville Chattanooga & St. Louis leased the Western & Atlantic (Atlanta to Chattanooga, 138 miles) for 29 years from December 27. The Alabama Mineral RR ., 129 miles, was taken into the system January 1, 1891. See V. 51, p . 460. In December, 1890, the stock of the Kentucky Cen-tral was acquired, control being assumed February 1, 1891. See that company a nd V. 51, p. 876 and V. 52, p. 939. ORGANIZATION, LEASES, &c.-The Louisville & :Nashville was char¢ered March 2, 1850, and opened between Louisville and Nashville November, 1 859. The liabilities for interest on the auxiliary roads are !treated mostly a s belonging directly to the Louisville & Nashville Co. 'The fiscal y ear ends June 30. Annual election is held early in October. STOCK A.ND BONDS.-In 1889-90 the stock was increased $13,000,000 .for the purpose of retiring the 6 per cent collateral trust bonds of 1882. "This reduced the annual interest charge by $600,000, and the sinking 'fund charge by $100,000, in all ,100,000. In July, 1891, it was voted to mcrease the stock from $48,000,000 to ;$55,000,000, the purpose of the increase being the purchase of the Kentucky Central RR., the subscription to the new issue of Nash. Chat. ~ St. Louis stock, &c. Of the new stock $4,800,000 was taken by ,stockholders of July 21 at 70. Dividends since 1880.-In 1880, 8, and 100 per cent in stock; in 1881, 6; in 1 882, 3; in 1888 and 1889, 5 in stock; in 1890, 6, of which 4:1_10 in stock ; in 1891, 5 in cash; 1892, February, 212 cash. Price of stock-In 1880, 77@174; in 1881, 79@21012; in 1882, 4612@ 100~; in 1 883, 40:5s1l>5812; in 1884, 2212@5138; in 1885, 22@51¾; in 1886, 33:5s@69; in 1887, 5418@70 14; in 1888, 50:5s1l>6414; in 1889, 5614 @8714; in 1890, 6512@9212; in 1891, 657s@83 7s; in 1892, to Jan. 22, int(llusive, x76 7s@8412. The 10-40 adfustment mortgage of 1884 (trustee, Central Trust Co.) besides 783 miles of road covers $28,162,700 of stocks and bonds. See V. 39, p. 409, and V. 51, p. 463. . The Evansville Henderson & Nashville bonds are drawn at 110 by lot .annually, in September; $30,000 a year till 1895, then increasing each ~ve yea.rs until $150,000 per year is finally reached. The Pensacola Division bonds are subject to a drawing sinking funtl ::$5LOOO till 1900, inclusive, then $10,000, and so increasing. ·1.·ne general mortgage bonds of 1880 a.re subject to a. drawing sinking fund ol 1 1-10 per cen-t of all bonds issued, plus the interest that would r;;i.::r,crued Qn all the bonds so drawn-about $190,178 in all in In June, 1890, the "unified" mortgage (trustee, Central Trust Com• pany) for $75,000,000 was authorized, $411 917,660 bonds being reeerved to retire all prior liens (none of the prior liens can be extended), ithe balance for improvements, extensions (at the rate of $32,000 per mile, including eqwpment), and for other purposes. The mortgage cov,ers (besides 1.,080 miles of road and its eqwpment) $16,209,700 stock ,of companies controlled, which is subject only to the 10-40 adjustment mortgage, and $6,498,400 stock and $1,100,000 bonds free from any 4len. See abstract of mortgage in V. 51, p. 613. OPERATIONS, FINANCES, &c.-The Louisville & Nashville system has been developed in its present extensive form since 1879; the 100 per ,cent stock dividend was declared in 1880 and a few dividends afterwards in cash, but from 1882 to 1888 nothing was paid. From February, 1888, to 1890 stock dividends were paid to represent surplus earnilngs. The August, 1890, dividend was paid partly in cash, and all since ;that date in cash. The half-yearly statement July.Dec., 1891, was in .the CHRONICLE V. 54, p. 78, showing n et surplus over all charges and .-dividends of $174,543, against $338,590 in s ame period of 1890. From July 1, 1891, to Nov., 30, 1891 (5 months), gross earnings were :$9,270,022, agst. $8,382,537 in 1890; net, $3,406,571, agst. $3,167,761. Fiscal year ends June 30. For 1890-91 the report was in V. 53, p !518, 521. EARNINGS, EXPENSES, ETC. 1887-88. 1888-89. 1889-90. 1890-91. .Average m ileage . ..... . 2,027 2,161 2,198 2,250 I 7 6 6 6 7 7 6 6 6 6 6 3 6 5 5 4 6 6 N. Y., 23 Nassau St. do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do do t N. Y., Chase Nat. Bank. do do do do do do N. Y., R . T. Wilson & Co. N. Y., when earned. do do N. Y., Central Trust Co. N. Y., Company's offl.ce. do do M. & S. g. J. & D. g. J. & D. g. M.&N. J. & J. .A.. & o. g. .A.. & o. g. M. & S. g. J. & J. g. J. & J. g. ~& s. g. M. & 8. g. M.&N. g. M.&N. g. M.&N. g. J. & J. F. & .A.. g. M.& S. ..if J.--&-·J. 6 g. F. & .A.. 6 g. .A.. & o. 5 g. M.&N. g. M. & 8. M.& 8. M.& 8. 6 6 g. F. & .A.. M. & 8. 6 J. & J. 6 I INCOME ACCOUNT. 1887-8. 1888- 9. I R eceipts- $ Net income, incl. invs'ts. 6,621,534 Disbursements- Mch. 1, 1907 Dec. 1, 1919 June 1, 1930 Nov. 1, 1924 Jan. Oct. :for. ch. Jan. Jan. Mch. Moh. Nov. May Nov. July Aug. Sept. 1897 1907 1910 1920 1930 1930 1921 1980 1931 1937 1931 1940 1921 1931 Juii"i",..i910 Aug. 1, 1911 .A.pr. 1, 1916 May 1, 1940 Sept. 1, 1934 Sept. 1, 1934 sevt. 1, 1934 Feb. 1, 1917 March, 1917 Jan. 1, 1919 1889-90. $ 6,950,420 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, $ 8,065,598 1890-91. $ 7,880,160 Taxes 375 557 401,112 397,721 410,810 Interest" ()Il. debt. &0°... 4 394' 803 4,605,493 4,524,694 4,207,629 Georgia RR deficit · · · · ' 3' 453 23,376 90,339 1T Pens. & .A.tl ..RR. deficit." 238,943 199,425 186,203 189,992 A!a: Minn. RR. deficit . . 15,502 5 l8,000 Dividend s.····· · · · · · · · · · t2 ,405~367 2,400,000 Total disbursements . ... 6,530,756 6,824,206 7,604,324 -7-,2-2-3-,9-3-2 Balance, surplus . ....... 90,778 126,214 461,275 656,226 tl, tl,!594c:soo t Stock dividends 5 per cent. t 4·90 per cent stock and 1 ·10 cash. 1f In 1890-91 there was a profit on the Georgia Railroad of $62,530. -(V. 51, p. 21, 84,439,455,459, 494, 569, 613, 876; V. 52, p. 81, 279,427,497,498,863,899; V. 53, p. 21, 58,126,256,370, 498, 518, 521, 520; V. 54, p. 78.) Louisville Ne-w Albany & Chlcago,-(See MapJ-Owns from New Albany, Ind. (op:posite Louisville, Ky.), to Michigan City, Ind., 289 mile; Indiana State line to Massachusetts .A.venue, Indianapolis, 162 miles; proprietary lines-Bedford & Bloomfield RR., Bedford, Ind., to Switz City, 43 miles; Orleans West Baden & French Lick Springs Ry., Orleans, Ind., to French Lick Springs, 18 miles; total owned, 512 miles. Operates under contract-Chicago to State line, 20 miles; New Albany to Louisville, 3 miles; in Indianapolis, to depot, 2 miles; total operated, 537 miles. .A. lease for 999 years with Chicago & Western Indiana (of whose stock this company owns $1,000,000) at $127,000 per year gives entrance to Chicago. The Louisville New Albany & Chicago was opened in 1852 and sold in foreclosure December 27, 1872, and reorganized. In August, 1881, consolidated with Chicago & Indiana Air Line. The Bedford & Bloomfield RR. and the Orleans West Baden & French Lick Springs Ry. have no debt, and their capital stock of $230,000 is deposited as security for the Louisville New Albany & Chicago .consolidated mortgage, as is also the $1,000,000 of Chic. & West Ind. RR. stock, and $40,000 Belt Railway of Chicago. The construction of the 30•mile branch to the Brazil coal fields haa been undertaken under the title of the Fort Wayne Terre- Haute & Southwestern Railway Company. In April, 1891, a syndicate composed of Calvin S. Brice, Samuel Thomas, John Greenough, and others, agreed to advance $1,960,000 to take up the floating debt, etc., receiving in return $2,800,000 general mortgage bonds, and $1,400,000 of new stock. The general mortgage of 1890 is for $25,000 per mile of road and $10,000,000 bonds are reserved to retire the lsts as they mature. Trustee Central Trust Co. On November 9, 1891, it was voted to authorize an increase of the stock by $6,600,000 to a total of $12,000,000, and $3,200,000 of this was sold to stockholders of Dec. 15, or to a syndicate at 25 (afterwards reported 2212) to provide money for new rolling stock and other im· provements, leaving $2,400,000 stock in the Treasury. From January 1 to Oct. 31, 1891 (10 months), gross earnings were $2,401,416, against $2,190,441 in 1890; net, $602,382, against $678,900. Fiscal year ends December 31. Earnings have been as follows: INCOME ACCOUNT. 1890. 1887. 1888. 1889. $ $ . $ $ Gross earnings .....•...••.. 2,295,623 2,292,782 2,495,823 2,630,132 999,253 Net earnings............... 805,925 868,105 957,186 Deduct- Interest on bonds.......... Rentals, taxes, &o......... 549,814 253,641 581,775 282,458 573,965 276,345 651,781 212,373 Total charges.......... 803,455 864,233 850,310 864,144 Balance ...•................ sur. 2.469 sur. 3,872 sr.106,876 sr.135,109 Samuel Thomas, President, New York. (V. 51, p. 21, 206, 276, 416, 608, 787; v. 52, p. 81,321,390, 425, 427,463,534, 571,574,608, 643; v. 53, p. 673, 713.) · Louisville New Orleans & Texas.-(See Map.J-Mafn line, Memphis, Tenn., to New Orleans, La., 456 miles; Riverside Division Coahoma, Miss., to Riverside Junction, 151 miles; other branches, 53 miles; Natchez to Jackson, Miss., 100 miles; Clarksdale to Minter City, 40 miles; total, 800 miles. For road under construction see V. 51, p. 21. This road was built in the interest of the Huntington system of roads, and forms the connecting link in that system across the Continent from Norfolk to San Francisco. The income bonds are a first mortgage on 750,000 acres of land in the Yazoo Delta. The second mortgage bonds a.re "incomes," receiving interest only when earned; but no interest was payable till March 1, 1889; unpaid interest is cumulative, and bears interest (if earned) at the rate of 5 per cent ; these bonds may be paid off at 105. The Union Trust Co., of New York, is trustee of the first and second mortgages. Capital stock, $5,000,000; par, $100. $ $ $ $ From January 1 to Nov. 30, 1891 (11 months), gross ea.in.ings were "6ross earnings ... . .....• 16,360,241 16,599,396 18,846,004 19,220,729 .Net earnings . . .. . ..... . . 6,092,706 6,273,311 7,426,912 7,162,284 $3,435,476, against $2,703,389 in 1890; net, $919,010, against $568,784. 3~ 8 r.Perot.ofexp. toearni'gs 62·76 62·21 60·59 62·74 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis . '74 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT LOUISVILLE, \ NEW ALBANY & CHICAGO RAILWAY (VOL. LIV, r JANUARY, 1892,J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS AND BONDS · MAP OF THE LOUISVILLE, EW' ORLEANS AND TEXAS R. R. The ru1ed sb!tding indicates L:t.nd Grant https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1N VESTO.RS' SUPPLEMEN:r. [VOL. UV. H. E MAP OF THE LOUISVILLE, ST. lDUIS AND TEX'AS RAILWAY, A.ND CONNECTIONS. JANUARY, RAILROAD STOCKS AND BONDS. 1892.] 77 the ■e Tables. Bonds-Princl - INTEREST OR DIVIDENDS. RAILROADS. Miles Date Size, or pal, When Due.: Par For explanation of column headings, &c., see notes of of Oj~~~g Rate r r When Where P~able, and by Stocks-La.st on first page of tables. Road. Bonds Value. Cen . Payable om. Dividend. - Sub.erlbe r • will c onfer a g r e at f'avor by g iving Im.mediate notice o f' any e r ror discove r e d In --- Louisville South.-lst M. for$5,000,000, g., guar.c* !,ykens Valley-St'k,lOp.c.rental, 999 yrs. Nor.Cent. L nch"burg ~ Durham-lat M.$20,000 p.m., gold. c* 8· aeon~ A.tlantio-lstmort., g. ($20,000 mile).c* Macon~ Birmingham-lat M. for $20,00 per mile Macon ~ Northern -lat mort. gold, guar. p. & i. .. c* Maine Oent?·al-Stock . .....•••• . .•. . ..••• . ..••• . ..••• 126 21 115 ·95 107 Port. & Kennebec con. M., Port. to Aug. & brch . . o ·-.-;i Me. C. loan for $1,100,000, Danv. Jc. to Bangor.c 109 Extension 1st M., Cumberland June. to Dan .. o 18 Leeds & Farm. RR. 1st M., Leeds to Farmington.o 36 Me.C. 1st M., cons., A. B. C. D. ($269,500 5s) . .. o* Do Class B .. ...•.....•..... • .....•....•• . .....• • i3o4 41 Collateral trust bonds for Mt. Desert Branch . . . . o Sinking fd. 10-20s &"'red.on or aft. Feb. 1, '95 ... c . ... Improvement bon s, "A" and "B." . ....• .. .... •• European & North American (Ban gor loan) ..... o . 56 Portland&Ogdens. l stM. g., int. guar. M. Cent . . o 60 Consol. mort. $20,000 p.m. (guar.Maine Cent.).c 108 Hereford R'y 1st mortgage, guar . . ........••...•. • 53 Upper Coos RR. 1st mort., guar ..... . ......•..... • Extension mortiar, $21,000 per mile . ........ ·33 Mianches. ~ Law.-S oc ,10 p.c.ren'l till 1937,B.&M. 26 Mianhattan Etevated.-Consolida ted stock . . . ......• • 32 Dividend bond certificates. (See remarks) ....• . r Metropol. El. l stmort., $600,000 p. m., $ & £.o* ·1s 18 2d mortfiage (!i,uaranteed by Manhattan) . .... c* N. Y. El. st M. ayable at 105 aft. 1895)$&£.c&r 14 1890 $500&c. $4,175,000 20 600,000 i890 1,000 2,012,000 (1) 1890 1,000 1890 1,000 1,000 1891 2,2 ,000 100 4,482,400 i865 100 &c. 1,166,700 1868 100 &c. 756,800 1870 500 &c. 496,500 1871 100 &o. 633,000 1872 100 &o. 4,176,700 1872 100 &o. 1,395,000 1 883 687,000 1885 600,000 1:C>OO 1886-7 450,000 1869 500.&c. 1,000,000 1870 500 &o. 800,000 1888 1,000 1 ,190,000 1890 800,000 1890 500.&c. 350,000 1890 347,000 ·ioo 1,000,000 .... 100 30,000,000 1,905,035 is1s 1:000 10,818,000 1879 1,000 4,000,000 1876 1,000 8,500,000 i .... 5 g. 212 5 g. 5 g. 5 g. 41 g. 6 7 gg. 5&7 4 19 5 6 g. 412 6 ~ g. 4 4 412 5 112 4 6 g. 6 7 J. & J. N, Y., Chase Nat. Bank. July 1, 1940,. Q.-J. N. Y., Office, 13 Wm. St. J an . 1 , 189Z New York. J an. 1, 1940J. & J. M.&N. Nov.,'90, coup. last paid Novi ~/940M.&N. 9 M.& 8. N. Y.,BrownBros.&Balt. Ma r . 1 , 1990 F. & A. Portand, Me., Office. Feb.1 5,. 1892.: July 1,. 1895 A. & O. do do do July 1,. 1898J. & J . do do do Oct. 1, 1900A. & 0 . do July 1,. 189&; do J . & J. do do Apr. 1 ,. 1912 A. & 0 . do do Apr. 1 ,. 1912' A. & 0 . do do June 1, 1923: J . & D. F. & A . do do Feb. 1 , 1905'do do July, ' 16 &'17 J . & J. J. & J. Boston, Merch. Nat. Bk. Jan. 1, 1894 J. & J. Bost., 2dNat.Bk.&Port. July 1 , 1900M. &N. do do Nov. 1 , 1908' M.&N. Boston, Mass. Nat. Bk. Ma y 1 , 1930M.&N. . ......... Ma y 1 , 1930< Ma y 1, 1930M.&N. M.&N. Manchester and Boston. Nov. 2 , 1891 N. Y., 71 Broadway. J an. _ 2, 1892.· Q.-J. A. & 0. do do At Co.'s option J. & J. N. Y.,MercantileTr.Co. July 1 , 190~ M.&N. do do Nov. 1 , 189~ J. & J . do do Jan. 1 , 1906: Atlantic (which see) is projected by same parties from Macon to the, coast at Colleton on P or t Royal Sound. See V. 51, p. 538; V. 53, p . 325 •. 1890. 796 M acon Dublin & Savannah.-Road about completed from. $ $ Gross earnings ...•.•....• • .......• 2,434,334 3,236,566 Macon to Dublin, 54 miles; projected to Savannah, 99 miles additional. Built by the Illinois & Georgia Improvement Company of Chicago. No-Net earnings ..••• • ...•• • ....••..•• 652,442 834,138 bonds have been issued. D. M. Hughes, President, Macon, Ga. DeductRentals ...... .. .........•.....•...• 7,137 4,387 1,637 Mac on & Nort h e rn.-Owns from Macon, Ga., to Athens, G a., 105-445,600 500,980 Interest on bonds . .....•.....•.... 589,520 miles. Successor to the Covington & Macon, which defaulted Sept. 1, . 64,684 67,504 Taxes ...........•.....•. . ........• 91,883 1890, and was sold in foreclosure May 21, 1891. In 1891 leased for 99' 33,937 29,767 Miscellaneous ......•.....•.......• 29,650 years, renewable forever, to the Richmond & Danville and the Central of Georgia, the lessees jointly guaranteeing interest and principal of Total. ....• . ... ••....• •...•.... 551,358 602,638 712,690 the bonds. This guaranty is on each of the bonds, which, ltmited to Ba.lance, surplus . ....•....••..•••• 101,084 *438,019 121,447 total or $2,200,000, retired old issue and provided for improvements,.. &c. Bee V. 52, p. 321; V. 53, p. 223. * Other sources of income were: Sale of Bolivar County bonds, $105,· From J anuary 1 to March 31, 1891 (3 months), ~ross earnings were 000; from operations of roads pending purchase, $72,004-making sur• $36,293, against $38,222 in 1890; net, $5,217, agamst $7,144. plus for year, $615,024. In 1890 gross earnings were $150,739; net over surplus a nd taxes,.. R. T. Wilson, President, New York. (V. 48, p. 854; V. 49, p. 23 4 , 471; $24,745. (V. 51, p. 303, 383; V. 52, p. 80, 164, 321, 680,795 ; V. 53,,. v. 50, p. 205,312,377,588; v. 51.1). 21; v. 52, p . 427, 428.) p. 223, 713.) Maine Ce ntral.-Line of road, Portland to Vanceboro, Me., via. Lonlsvlll e St. Louis & T exa s .-( See Map.J-Loul8ville to Hen• derson, Ky., 142 miles, of which it owns Henderson to West Point, 121 Augusta, 251 miles; branches, Cumberland Junction to Skowhegan,.. miles (completed April, 1889), and uses by_: contract with Chesapeake & 91 miles; Bath to Lewiston and Farmington, 76 miles; branchesOhio Southwestern West Point to Louisville, Ky., 20 miles; owns also Belfast, Dexter, Bucksport and Mt. Desert Ferryz 132 miles; Portland&. from Irvington to Fordsville, Ky., 44 miles, and branch 1 mile; total Ogdensburg Railroad, Portland, Me., to Lunenoerg, 109 miles; small operated, 166 miles. In July, 1891, the Louisville Hardinsburg & branches, 6 miles; Upper Coos and Hereford railways, Lunenberg, N. H., Western RR. was absorbed. See V. 53, p. 126. The first mortgage to Lime R idge, Q.uebec, 108 miles; Bath to Rockland, including s tea® bonds are for $2,800,000, of which $360,000 are held in trust for ex. ferry, 7 miles, 48 miles: total, 821 miles. The Knox & Lincoln Railtending road to Louisville, if at any time deemed advisable. Trustee of way, Bath to Rockland, Me., was leased perpetually in 1891, the M. C. mortgage, Central Trust Companr.. July 1, 1891, there were out- assuming its liabilities a,nd paying $5.00 a share on 2,000 shares of standing $281,218 and $107,157 bills payable. Stock, $3,000,000; par, stock. In September, 1891, $900,000 new stock was iss ued at par to s tock$100. From July 1 to Nov. 30, 1891 (5 months), gross earnings (not holders to pay for double tracking, improvements andeqmpmentof new· including the Fordsville Division) were $422,925, a~ainst $361,963 in road acquired in 1890. Of the stock $2,264,375 is owned by Boston & Maine. The Hereforct 1890; net, $191,105, against $155,419. In year endmg June 30, 1891, ~oss earnings were $429,415; operating expenses, $250,493; net, and Upper Coos railways are leased for 999 years and their bonds guaranteed. The Coos division was opened in May, 1891. $178 922. · In August, 1888, leased Portland & Ogdensburg for 999 yea rs andi, W. V. McCracken & Co., 42 Wall Street , New York, Financial A~~nts. guaranteed its bonds; rental 1 per cent on st.ock for first three year&> See full st a tement to New York Stock E x chan_O'e in CEIRONICLE, v. 49, p. 146; (V. 49, p. 146,434 ; v. 51, p. 416, 715; v. 52, p. 498 ; v. 53, p. 126; and 2 per cent thereafter. The re are also $58,000 5 per cent debenture bonds, due Febr uary,. 407.) 1894, $42,000 Shore Line 6 per cents, due 1923, and $175,000 Dexter Louisville Southern.- Owns from Louisville, Ky., southwest erly & Piscataquis 4s, due July 1, 1929. to Burg in on Cincinnati Southern R ailroad, 83 miles, with bra nches to Dividends since 1876 have been: In 188 2, 2 per cent; in 1883, 5 ¼; Lex11!~ton a n d Georgetown, 47 miles ; total, 130 miles. L ease to L ouis- rrom 1884 to Februa ry, 1892, both inclusive, a t the r a te of 6 per cent ville ~ ew Alba ny & ChicaO'o was t ermina t ed in Ma rch, 1 890. (See V. yearly. 50, p . 834.) Cn July, 1890, leased for 99 years to the East Tennessee Fiscal year ends Sept 30. Report for 1889-90 was in V. 51, p . 874. Virginia & Georgia, w hich g ua r a ntees principal and interest of the new 1887-88. 1888-89. 1889-90. 1890-91. 50-year 5 per cent bonds. All n et earnings after payment or fixed cha rges Miles operated. .. . ...... . .. 627 647 741 82 1 a.retobeequally divided b etween the lessor a.nd the lessee. See V. 51, p. $ $ $ $ 51, 612. Stock, $3,500,000; par, $100. See statement to New York Total gross earnings ....• •• 3,389,007 3,828,162 4 ,226,465 4 ,324,905-, Stock Exchange, CHRONICLE, V. 49, p. 146; also abstract of mortgage Total net income . .• •. ...• •• 1,199,044 1,332,039 1,411,563 1 ,421,601 and lease, V. 49, p. 342 and 343. DisbiirsementsFrom ,July 1, 1890, to March 1, 1891 (9 months), gross -earnings (as Rentals paid. . ... . . ......... 192,573 233,427 284,655 3 60,093; reported by Louisville New Albany & Chicago) were $348,423_; net, Interest on bonds . . . . . . . . . • 734,031 798,391 821,165 8 28,189' $86,080. (V. 50, p. 662,834, 904; V. 51, p. 51,276,303,457,612; V. Dividends..... . ..... . . ... .. 215,604 215,616 215,616 215,628 52, p. 81.) Earnings and charges have been as fg~g~s: Hi.lea operated December 31..... 515 1889. 657 $ 3,031,115 1,040,657 Lyke n s Valle y .-Owns from Millersburg, Pa., to William stown , P a ., 20 miles; branch, 1 mile; total operated, 21 miles. It is a coal road, leased and operated by the Northern Central Railroad since J uly, 1880, and previously by the Summit Branch Railroad. The lease is f or 999 years from March 1, 1866, and the rental ls $62,500 per annum. From January 1 to August 31 in 1891 (8 months), gross earnings from coal and mining operations were $619,741, against $638,381 m 1890; deficit, $19,643, against n et or $1,781. In 1890 gross, $956,826; net, $11,264, against deficit of $20,773 ln 1889. L y n chburg & D nrh a m.-Completed in 1890 from Lynchburg, Va., to Durham, N. C., 114 miles; projected to a connection with Raleigh & Augusta RR., 25 miles from Durham. Mortgage is ror$3,0001000, a t $16,500 p er mile of complet ed roa da nd $3,500 per mile additional for equipment; trust ee, Merca ntile Trust Compa ny. Stock au• thorized, $2,000,000; outstanding , $1,876,500 (par, $100). In Jan., 1892, reported as l ea sed to Norfolk & Western. President, W. C. Houston, Philadelphia. (V. 49, p . 52; V.51, p. 84.) lUacon & A.ttantle.-Project ed [from Sofkee, Ga. (6 miles from Macon) , to Savannah, Ga., and t o Collet on, S. C., on the Atla ntic Coast, a.bout 200 miles. The Macon Construction Co., which h a d the contract f or building t h e road, failed in Ma r ch, 1891, a nd construction ceased. In Novem b er, 1 891, H enry J. L amar was a ppointed R eceiver . The New York Security & Trust Co. i s m ortgage t rust ee. V. 53, p . 156, 713. Macon & BlrIDlnghaID.-Projected from Macon, Ga. , to Hirming-ham. Ala .. 230 miles. and complet ed from Ma con Junction to L a Gr a n ge, 95 miles. Built b y the Ma con Construction Co., w hich went into r eceive r's hands in Mar ch, 1891. I n Sep tember, 1891, Messr s. Gill, Sh aw & Ober of B altimore consented to act a s a committee and invited the bondholderA to deposit their holdings, under a bondholder s' agreem ent, with the Merca ntile Trust & ])eposit Co. of Baltimore, or the New York Security & Trust Co. See Georgia Southern & Florida. The Macon & https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Total disbursements ...•. 1,142,208 1,247,434 1,321,436 1,403,910 ~ Balance, surplus. . .... . ... . 56,836 84,605 90,127 17,691 -(V. 49, p. 823; V. 50, p. 735; V. 51, p. 874; V. 52, p. 939; V. 53, p . 820 .) lUanche ste r & Lawrenee.-O wns from Manchester, N. H., toMethuen (State Line) , 2214 miles; leases Methuen Branch, 3~ miles;: total operated, 26 miles. Road in operation since 1849. L eased for 50 years from September 1, 1887, to Boston & Maine at a rental paying 10 per cent dividends, at which rate dividends had been, paid for many years. Suit has been instituted to recover $1,000,000, said to be due from Concord Railroad. M a nhattan Ele vate d.-Road operated, 32·39 miles. This corporation was formed November 24, 1875, to lease and operate the two-elevated railroads in New York City. The original lease of May 20,. 1879, gua ranteed 10 per cent per annum on the stocks. In June, 1884, all liabilities were assumed and new stock was issued by the Ma nhattan Company, viz.: For Manhattan, 85 p er cent in new stock; for New New York, 120 per cent; for Metropolitan, 110 p er cent, m aking the whole stock $26,000,000. In May, 1891, $!,000,000 s tock was issue for the ac9.uisition of the Suburban Rapid Transit R ailro ad, w hiobt owned a bridge across the H a rlem River, a nd h ad a roa d in op eration, to :iear 176th Street, N. Y., 212 miles. See V. 52, p. 642. There a re considerable claims pending against the elevated r oads for dam age to property on their lines, and m anyl of these a re b efore th& courts. The consolidated mortga$.e (t rust ee, Central Trust Co.) was. authorized in F ebrua r y, 1 890. 1t is limit ed on present mileage to$40,000,000, ancl will prov ide for prior bonds w hen due, for floating · debt, &c. F •,rther amounts may~ be· issued for ex tensons if desired.I at the rate of $300,000 p er mile of single and $600,000 per mile of double track. /See abstract of mortga~e in V. 51, p. 248, and application to New York Stock E x cha n ge in rull inV. 52, y. 353.) The scrip, issued for dividends is convertible into new 100-year 4 per cent console and is redeemable at option of company. Cash dividends were resum ~ • _, (I) ~ s ~ 0 ~ 0 00 ~ ~ 0 ("~ ~ 00 ~ ~ 1-'d ~ ~ '$ 1/, ~~ ~ u- 'T ~ tz:j rr-~ - v,~ ..,."i."' "' ,,r 'L -'o~" , . -,.:_.,"' . ., , Ao , ~ · ,""?~ ' ,,-'••~-~ct' 8, ~ ,,, ...,o.," , , MEXICAN CENTRAL RAILWA··y 0 . . , _,, ~ ti?i&i ""'.: ~~- ~~- .L\V c/ ~ l'ueb l a ~ ~ . ,{_ ~rlzaba ~~~l~~ o ___ __ _ /' . - · , ....,., - ~ 4 ID.pecbe .Ai,.,. Cuautla lif"ll"' 1'' ,V - ~ _, ,.J•f }!,..C_. '. -----•-=: : . ·. ;r,_, y- . r ,..i.·O~~~ Coalcoman ,, · ~-- -- . , , - -,, _:,.;,~------~------- R,( ____ _ ,..- _ ' ; #----- -- -::::::::=::-.: -~ ·, - - \. o If' . jl:~--~o,..._.. AND ITS CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,F ' --•~...... . ~ 1g..:uRoU.- -·,.,,;,.,,. , . . ~i·>~--ii>---:: ,,-- ,-- .,,.,-.,,.,_,, - r MAP OF THE ' F . .M"DAJV»Jm..<t 1 t-4 :BaceJaro ~ JANU.A.llY, 79 RAILROAD STOCKS AND BONDS. 1892.j Subscribers will confer a great t'avor by giving ll!lrnedlate n _o tlce of' any error discovered In th ese Table!'. RAILROADS. For explanation of column headmgs, &o., see notes on first page of tables. I INTERES'.r OR DIVIDENl>S. !1Jc,iuls-.Prino1• Miles Date Size, or A mount ---------------d - pal,When Due. Par of of Outstanding R ate per When Where PWiable, an by Stock11-Las$ Road. Bonds Value. Dividend. Cent. Payable hom. . 1~ Jfanhattan EleTJated-( Ooncluded.)N. Y. El. deb., secured by consol. mort. of 1890 .. Con11olidated mortgage, gold .................... o• Jfaric'tfaa cl: Pltam~lst mort~ge, ~old ............ Jlariet a cl: North Georg_ia-lst ., go d, $7,000 p.m. Con.lst.M.,g.,t,50 ,000,s.f.$15,000 after 1897 c* Marquette Houg iton cl: Onton.-See Dul. B. S. & Atl . Mern. cl: Chm·leslo'll,-Tenn. State loan for $1,736,906 lt1t and 2d mortgage, extended .................... ~~g[~~~1~· <'fi~:ii%o· isi·oii ~)3 in: iii ±eiiii.ic~ General mort~ge, gold ........................ c&r Mexican Centra 1st mortgage tunassented) ....... Consol. mortgage, gold, $32,000 per mile .... c*&r 1 st consol. incomes,gold, non-cum.($9,600p.m.)c* 2d con. inc.$6,400p.rn.red.at 50p.c. till Aug.1929c* Registered income honds, unassented ... . ....... r Jle..cican .Nationat-lstM., g.,subsidy, dr'n at 100.c* 2d M.,ser. "A," g., inc. acoum. (for !f:16,675,000)c* 2d M.,ser. "B," g ., iuc. non-ac. (for $16,675,000) . r 3dmortgage, deb.(income not cumulative) gold.r 32 32 35 .... .... 94 .... 292 292 1,832 1,832 1,832 1,064 1,064 1,064 1886 1890 1886 1881 1887 $1,000 1,000 1,000 1,000 1,000 i854 $1,000,000 9,300,000 540,000 .554,000 3,281,000 1:000 1,000 1867 1,000 1876 1,000 1884 l,'000 1881 1,000 1889 1,000 1889 1,000 1889 1,000 1881 1,000 1887 1887 500 &c. 1887 500 &c. 1,000 1887 In trust. 2,155,000 1.05,000 2.264,000 1,000,000 934,000 54,436,000 16,480,000 10,884,000 642,000 12,218,000 12,265,000 12,265,000 7,040,000 5 4 6 6 6 7 7 7 6 (7) 4 3 3 3 g. g. g. g. M. & 8. N. Y.,MercantileTr. Co. A. & O. do do M.&N. N. Y., Farm. L. & Tr. Co. J. & J. Jula:, '90, last paid. o do J . & J. g. g. 4 g. g. J. & J. & J. & J. & J. & J. & July .. ... J. N.Y., Gallatin Nat. B'k. J. do do do J. do do J. do Boston. J. Boston. J. 10 Boston, when earned. .............. --·- · July 1 6 g. .J.. & D . N. Y., Nat. City Bank. 6 g. M.& s. 6 g. April 1. 6 g. May 1 ·········· ... -...... .......... Mch. 1, 1916 Apr. 1, 1990 1916 July 1, 1911 Jan. 1, 1937 Jan:·1,""i9us Jan. 1, 1Ul5 Jan. 1, 1916 Jan. 1, 1924. July 1, 1911 July 1, 1911 Jan. 10, 1939 Jan. 10, 1939 July 1, 1911 Jtme l, 1927 July 1, 1917 Jnly 1, 1917 July 1, 1937 9 In April, 1890, after four dividends of 112 per cent each had been paicl \ In 8Crip. Dividends in 1884, 3 per cent; in 1885 to 1887, inclusive, 6; in 1888, 5; in 1889, l in cash and 4-'-2 in scrip; in 1890, 412 cash and 112 scrip : in 1891, 6 cash; in 1892, Jan., 112. Prices or stock-In 1884, 64121il79; in 1885, 651ill2312; in 1886, 1021i> • 175; in 1887, 92121vl6l7ti; in 1888, 77¾11!9838; in 1889, 90·@10~½! : in 1890, 9:l1i! 117; in 1891. 95"@11)9; in 1892 to Jan. 22, incl.. 104'@10738 July 1 to Sept. 30 (3 months) in 1891, gross earnings, $2,396,129. -a~ainst $2,194,403 in 1 890; net, $1,109,349, against $1 ,059,259 in ll:s90; surplus over charges, $.''>44,156, against $189,916. · Fiscal year ends June 30. Statement for 1>:l90-91 was in V. 53, p. :519. In the followinK the figures for 1889-90 and 1890-91 <1.re for year .ending June 30-all others for year ending Septeruher 30: ,-Year End. Sept. 30 ...__ ,-Year End. June 30,..__ 1887-88. 1888-89. 1 889-90. 1890·9 l. $ $ $ $ Gross earnings ...... 8,673,871 9,080,881 9,388,681 *9,959,710 Oper. exp. and taxes 5,201,050 5,422,394 5,307,129 5,455,630 Net earnings .... 3,472,821 Interest and rentals . 1,554.,080 · 3,658,487 1,554,080 4,081,552 1,597,880 4.,504,080 1,907,49-1 Balance .......... 1,918,731 Deduct dividends ... 1,300,000 2,104,407 tl,430,000 2,483,n72 tl,560,000 2,596,586 1,620,000 ~rplus. ......... 618,741 674,407 923,672 976,586 • luuludes other income. t In cash au<l scrip. Number of passengers carried and gross earnings bave been: Year end. Year end. I fsefJ:1i~.-. I:~:i:1es1 $?t~t"ci 1~si~·st~:.11;~ni~~~t $~.~~tt1~ 1879-80.. . 60,831,757 4,612,976 1886·87. .. 158,963,232 8,102,662 1880-81... 75,585,778 1881-82 ... 86,361,029 1882-83... 92,124,943 18i;3-84 ... ~fi,702,620 !l.884-85... 102,354.729 5,311,076 5,973,633 6,386,506 6,723,832 7,000,566 1887-88 ... 171,529,789 1888-89 . . . 179,497,433 1889-P0* .. 185,833,632 1890-91*. . 196,714,199 8,673,871 9,080,881 9,302,H81 9,959,710 * Year ending June 30. -tV. 51, p. 206, 207, 248, 414,681,494,719: V. 52, p. !!38, 322,351, :353, 642, 707, 832; V. 53, p. 224, 51 ff, 713, 968. l:t.larlcopa& Phrenlx.-Ownsfrom Maricopa, Arizona,ontbeSouthern Pacific Railroad, to Phrenix, Arizona, 35 miles. Stock is $600,000 (par, $100). In year endin"' June 30, 1890, gross earn ngs were $90,442; net, $34,083; interest, $32,400; taxes (less other income), $2,~13; deficit, $1,0,W. .Presi Lent, N. K. Ma;iten, San Francisco. Marietta & North Geor«la.-Owns road completed in Au· ~st, 1890, from Knoxville, ';J.,enn., to Marietta, Ga., 217 miles; branch, 7 miles; trackage, Western & Atlantic Railroad, Marietta, Ga., rto Atlanta Ga., 20 miles; total operated, 244 miles. At Knoxville con-nection is made with tile Knoxville Cumberland Gap & Louisville. wlJlch affords access to the coal fields near Cumherland Gap, and to ,the Louisville & Nashville system. Interest defaulted Jan. 1, 1891, and ..J.B. Glover appointed permanent reoeiver ou Feb. 23. There are to be1ssued$l,l00,000 of receiver's bonds in order to put the road in good .-condition. Stock issued, $1,560,000. The Central Trust Company of New York is trustee of tile oon!lolidated mortga~e. Mortga~e ou line ,from Mal'ietta to Murphy, 112 miles, is at rate of 1il6.U00 a imle, and on Kno xville extension $20,000, average rate beiug $17,300. (V. 49, p. -~16; v. 51, p. 345; v. 52, p. 121, 16;:;, 350, 463.) 1'Iarquette Houghton & Ontonagou.-See DULUTH SOUTH '8HORJ:<: & ATLANTIC. l:t.lary)and Central Kallw-ay . -See BALTIMORE & LEHIGH. IU ernphts & Cl1arleston.-(See Map of East Tennessee Virginia cl: ,Georgia.J-Owns from Memphis to Stevenson, Ala., 272 miles; branches -to Somerville, 14 miles; to Florence, 6 miles; leases Stevenson to •Chattanoo&,a, 38 miles; total operated, 330 miles. Of the consolidatBd mort~age. ;r,l,400,000 are sec11red by the old Tenuesse State lien for $1, 736,U06, assigned to a, trustee. On Feb. 1, 1892, there were 93.178 ,car tt-usts <rntstanding, maturing 1 891 to 1894. '£!le stock is il3,Jl2,725· par $25. '1'l;e Ea'st Tennessee Virginia & Georgia RR. in September, 1885, . placed a majority of tl1e stock ( which it owns) iu tlie Ceutml Trust Co. tor control. The validity of this ownership of stock was <.mntested aud .a. decision of ti.le matter yet remains to be made. (See V. 50, p. 703; v. 52, p. 831.) From July 1, 1891, to Dec. 31, 1891 (6 months), gross earnin!?"f' were . $859,399, against $98-1.115 in 1890; net, $247,277, a!?"ain:1t $293,674 [utile yeai· endin~ June 30,189l,gro8s earuiug:1were $l,7-l7,-16 l; ,. net, $46~,8i>0; surplus above cllarges. $96,16:-J. fn 1889-!W grnss $1,783,7:!9; n~t. $314,730; surplus over cllargefl, $136,831. (V. 50, ,p. 174., 703; v. 51, p. 276,456,612; v. 52, p. l"l31; v. 53, p. 835.) l:t.lexlcan Central {l:t.lexico ).-(See MapJ-Milea!!e-Mitin line Mexico City nortll to El Paso del Norte, 1,22-11mles. 406 miles on Tam• _pico Division, 11 miles 011 Guanajuato Brnucll, 161 mile,i 011 Gm1dalaiara · Division, tmu lo miles on the Sau Blas Division, and brancheR 13 llliles, made a total of 1,832 miles Jan. 1, 1891. The company .llas a line under onstruotion from 'l 'ula to Pachnea., 45 miles. • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The company was incorporated February 25, 1880, nuder the general hw or Ma:ssaclmsetts, and by tran>1t'er the company hold.a a cl.tarter trom r he Mexican Government, granted DecP.mhei· 5. 1874. Tile subsidy from ttie Mexican Government was $15,200 per mile on moRt or the linefl, and in July, 1890, a contract w ~1,s m ade by which all subsidy pay111Buts 011 lines then uon,itructed were di:1clu1,rg-ed b .v the p itymeut of ~14.86:J,59-t in Mexicau silver. The totn,l >111bsicly collection,i from tl1e beginning-, includ.in« this settlement, amount to about $17,000,000 1n American money. See V. 51, p. 909. •rue :i,7,000,000 prioritv bonds were paid off with proceed!> or suhsidy collections, interest cea~ing April 10, 1891. See V. 52, p. 390. Arter ti.le pavment of the priority bon«;l.s there wag left of the sub!li<l_v about $-1,40o;ooo to be put in trus·t and n serl wl1enever n ecessary for the paywent or principal and interest of tile consolida,ted mortgage lloud:1. In 188H a fundin." plan was ag1·eell to. in accordance with wlJioll new bonds were issue<l retire old securities (see circnlar in t'nll, CHIWN 1CLE, V. 48, p. 191; also p. 292, 327). The co111,olidated mortgage 41:1 (trnstee. Boston ~are Deposit & Trust Company) cover tile entire propertv, all old firsts deposited, and ti.le subsidy earuefl anll to he earned. (See abstract of mortgaKe in CHRONICLE, V. 40, !l·. 177.) Botll series of incomes are non-cnmnlative and secur ed oy Ollf\ mct.entnre to the Americau Loan & Trust Compau.v. Fir.·t consolid~1ted incomes r eceived 3 pflr cent interei!t July 10, lf,90, and 3 per cent m July, 18\Jl. Capital stock, $46,90:..!,600; par, $100. Price of s tock-In 1886, 13:3s"wl4; in 1887. 11121il22; in 1888, 12¾@ 1614; in 1889. 131s'ivl 8 ; in 1890.16"@3112; in 1891, 175aw~.:514; in 1892, to Jan. 22 incl.. 207s1v2334. From January l to Nov. 30, 1891 (11 months;, 1:,•Toss earnings in 111.exican cnrrency were $6.701,803, against $5,-794,639 in 1890; net, $2 ,39 6,310, against $2,121,352. Tile annnal repor·t for 1890 in V. 52, p. 716, 723_, gave a_fuU account of tile affairs of tile <>ompany and its prosp~ctR, with e~rurn~s. bal~nce sheet, &c. In ti.le following the gross earmngs an· given m Mexican currency, all other figures in U. S. currency. to INCOME ACCOUNT-(U. S. CURRENCY EXCEPT GROSS EARNINGS). 1887. 1888. Av. miles operated .. ....•• Receipts- $ $ 1889. 1,461 $ 1890. 1,527 $ Gross earnings, Mex. cur. 4,886,578 5,774,331 6,337,225 6,425,694. Net earns., &c., U. S. cur. 1,680,295 1,748,459 2,096,056 1,978,157 812,012 601,127 474,922 204,845 Net sullsidy received .... . 22,542 17,953 1,273 Miscellaneous ......... .. . Total net income ..... 1,885,140 2,224,654 2,931,510 2,597,237 Disb-ur·sements- 91,981 316,313 316,313 Interest on conpon notes. Interest on 1st moi-tgage. 1,254,677 1,357,717 1,767,5!l5 2,40(3, i'i,i 28,467 180,067 250,000 250,000 Interest ou debentures ... 261 105.881 77,575 74,612 Miscellaneous ..........•.. Total... ... .......... ... . 1,895,602 2,001,605 2,145,524 2,434,842 Balance ................. de!.10,462 sr.223,049 sr.785.986 sr.162,395 -(V. 51, p _114. 240,538,609,909; V. 52, p. 203,390,681.71 6, 723, 831; V. 53, p. 21, 436; V. 54, p. 159.) l:t.lexlcan National .Railroad ( lliexlco).-Owns trom Laredo to City of Mexico, 8-12 miles;· A.camlJaro to Patzuai·o, 9ti miles; El Salto branch, 45 miles; M,ttamoras to San Miguel, 76 mile:;: small l>rnnclles, 5 miles; total owued, 1,064 miles; contl'Ols tl1rou~h ownersll.ip or Rtock, Texas Mexican Railway, Corp11s Christi to L aredo1 Texas, and branch, 163 miles; other lines, 5 miles; total owned ana controlled, 1,232 miles. This road was opened for tratlic about November 1, U:!8t$. ·Tile foreclosure of the form.er company (Mexican National Railwa11) took place on May 23, 1 887, and tile pi·eseut_ compa!lY a.cquire_Ll 716 miles o~ road. It also coutrolR the Teuts Mexican Railway, owumg all its tirst awl secoud moi·tim~e bonds, and $2,453,750 of its capital stock out of a total issue ot' $:2,500,000. . . The sul}s1dv from the Mexican Government was $7,000 Mexican currency per kilometer. Prior to default tile former rail way company pleu0 ·eu $2 500 000 sullsidy certiticates to secure $3,000,000 of tirst IIlUl'eu-a"e ~ouds and at the re-or~a.uizatiou tltis amount llemtme appll~,1.i1e to 1.Jert'aiu of tile A and H l.JouLls roL· wllich tlrn. $3,_000,000 olll t1r:1t 111,H·t~a;.!e boll(is 'Nere exchan~eu. Iu tlrn i·c-or~:m11.at10n al:10, ,t;7,Ull0,00IJ :11ill:1idy uerts. were pleugeu as afltlitio11al selh tl'lty tor ~Lte ;t;l~,5UU,U00 uew tti-,it mortga.~ e IJoul-,, $3,tJ.>ll,0J,I ot' w111~l1 s 1t1J-,1u.y wa:; tlieu delivernd to the tru8tees and $-l,000,000 rn1m\me1l to be eai·11eu. The uoustt·uctiou ot' tile 5l>J kilometers (3,>U rnile:-1) iu tlie main liue earneu $3,U-U,U0tJ or su1J:1id.v, I.Jut or tlLis amouut :j,JJu,00U is applicable for tile lleuelitot' tile tive milliou A. a111l B uoud-;, l1-1av111g- ,jl.3,00~,000 ,1,pi1li1.Jallle to iutern,;t upon the tiri,t m1n·tga~e llonJ.:1 wh1111 uet_earniU•':! am in u.etlcit to meet the :1ame, autl tLt'tenvanls fol' rn.lemptwu of said IJuuu.s, :1u1Jjeut, llowever, to tt cllarge ot' :j,J.,,0J~ per .reaL· for tlve y1mrs, payable to tLie Mexic,m National Coustrnctwu Company. N~ gutia.tious an1 peuuiug witll Lhe Mexican GoverumeL~t fol' tue u:mver~iou of the r emaining certiticates. Tlle amount due 1s about $.:>,000,· 000 in Mexican dollars. Bee V. 51, p. 876. • INVESTORS' SUPPLEMENT. 80 MAP OF THE MILWAUKEE LAKE SHORE & WESTERN RAIL WA .L & CONNECTIONS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (VOL. LIV, ~ .A.l'W.ARY, 1892,] RAILROAD STOCKS .AND BONDS. 81 Subscribers -will confer a great favor by giving Immediate notice or any error discovered In these Tables. IBonds-Princl- RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or When Due. Amount Rate per 1 When Where Payable, and by pal, Par of Stocks-Last 'For·explanation of column headings, &c., see notes of Outstanding Road. Bonds Value. Cent. Payable Whom. Dividend. -0n :first page of tables. -- --- --- Michigan Oentral--Stock ............................. Consol. mort.-now 1st M. ($2,000,000 are 5s).c&r M. C. Michigan Air Line, 1st mor¥age ........ c&r '.M. C. Gen. mort. on Grand River al. RR ..... c&r M. C. 1st mo~~e on Kalamazoo & S. Haven.c&r Grand River a ey stock, 5 per cent rental. ..... Detroit & Bay City 1st mortgage endorsed .... c&r Bridge bonds ..•.................•................ M. C. lstM.onDet.&BayCityRR.(reris Q.-M.)c&r Jack. Lans. &Sat. con. M.,ext.in18 1, assu'd.c&r Citt-/ Batte Creek 1st mort., ~old, guar ... Ba le eek & Sturgis lstmort., god, guar ..... Middktoton Un. & W. oar;lstM.ext.25yrs.in'86.c* 2d mort. ~ar. interes , reduced to 5 per cent... c* Milwaukee ake Shore ti WesteNt-Common stock .. Preferred stock, 7 per cent ........................ Consol. mort. (now 1st mort.) $12,000 p. m. gold Michigan Div. 1st mort. gold (for $3,000,000) .. c* Ashland Division 1st mort\3§:e, gold............ c* '1st Ms.on Hurley & Onton. · r-ches (dr'n at 100) .c Conv. debentures, secured by mort of 1889, g .. c ... Ext. & Imp. M. for $5,000,000, g., s. f. not dr'n .. c* Income bonds (not cumulative) .................. r !Equipment bonds of 1882 ($30,000 red. yearly) .. Equip. bonds 1885 ($100,000 drawn yearly) .... c Bt. Paul East. Gr'd Trunk lst,M. gold,int. ~ar.c* Milwaukee cl Lake Winneb~o-lst mort., fo d ... o* Income mort., gold (cum ative) interes paid.c* Debent., convert., gold, see remarks ............ c* Bait $100 $18,738,204 270 i872 1,000 10,000,000 115 1890 l,000&c 2,600,000 1,500,000 84 '79·86 1,000 700,000 39 1889 1,000&c 491,200 50 84 1,000 274,000 147 i872 1,000 150,000 1873 i¥i 1881 1,000&c 3,576,000 2,335,000 295 71&80 1,000 250,000 .... 18 1889 421,000 41 1889 150,000 13 1866 100·&:c. 250,000 1871 500 &c. 100 2,566,100 .... .... 100 5,000,000 issi 1,000 5,000,000 ·s·5 1884 1,000 1,281,000 1,000 1,000,000 40 1885 1,000 125,000 16 1886 1,000 544,000 531 1887 1,000 4,104,000 531 1889 1,000 1881 500,000 S0,000 .... 1882 1,000 1,000 400,000 1885 .56 1883 1,000 1,120,000 1,000 1,430,000 65 1882 1,000 520,000 65 1882 239,000 ..... 1884 1,000 ·-·· .... .... The new :first mortgage for $12,500,000 is a prior lien upon all the lltnes in Mexi_c<;>, constructed or to be constructed, an~ upon the ab ve, named secunties. The bonds are redeemable on notice at par. Trus• tees Hugh M. Matheson and Charles Magniac.. On Jan. 1, 1891, $862,· "397 raise!'! by _salf?Of fir~t mortgage bonds remam84 unexpended; $ 743 ·· '266 of this bemg m capital reserve fund, $69,543 m betterments fund• and $49,589 held for debts of ·old company. In 1891 first mortgage bo.::: J~rJ!A°i2~~ ~~£s?~~~!tl-,i!!;l'l~i~kclry 1cumulative, and not 1oreclosable while stock remains in trust as below stated; the 2d mort· ,gage bonds, series "B," are non•cumulative; trustees, Lyman K. Bass and J. A. Horsey. Third mortgage income trustees, C. J. Canda and H. A. Risley. Stock, $33,350,000 (par $100), placed in trust with the Farmers' Loan & Trust Company, leaving the road in control of 1st and "2d mortgage bondholders until it earns and pays interest on both classes of bonds for two consecutive years, in which event the control reverts 1io the stockholders. See annual report for 1890 in CHRONICLE, V. 52, p. 532, and description of property in V. 48, p. 627. From ·January 1 to Nov. 30, 1891 (11 months), gi:oss earnings were -$3,843,371, against $3,397,031 in 1890; net, !j!l,051,349, against $727,508, all Mexican currency. In year 1890 gross earnings (Mexican currency) were $3,754,966; net, -; $827,0061 equa1 in American currency to $661,604, to which add sub• 11idy receipts,&c., $319,985; total net (Am. cur.) $981,589. Deduct inter• .est on bonds, $8091500; miscellaneous, $135,654; balance (Am. our.) $36,435, represeiltmg earnings from Federal Government not yet ,collectible. In 1889, gross, $3,660,124; net, $666,693; subsidy, &c., :$203,534; total net, $736,888. (V, 51, p. 569, 876; V. 52, p. 498, 5 32.) 1'.llchlgan Central.-( See Map New York Central ~ Hiidson .River.)-LINE OF ROAD.-Main line-Kensington to Detroit, 270 miles, and Windsor ·to Suspension Bridge (Canaaa Southern), 226 miles; total main line, 496 miles. Branches owned and leased-Michigan Air Line Railroad, 115; Joliet & Northern Indiana, 45; Grand River Valley, 84; Jackson Lansing & Saginaw, 295; Kalamazoo & South Haven, 39; Detroit & Bay City 151; Saginaw Bay & Northwestern, 87; Toledo Canada Southern & Detroit, 59 ; Canada Southern Bridge Company, 4; Michigan Midland & Canada1 15; Canada Southern branchest 101 ; Sarnia Chatham & Erie, 7; Erie & Niagara, 31 ; Battle Creek ana Sturgis, 34; other, 35; total branches, 1,099 miles; trackage Illinois Central, 14 miles; total operated January 1, 1891, 1,609 miles. 'There are 241 miles of second track and 762 miles of side tracks. ORGANIZATION, LEASES, &c.-The Michigan Central was chartered in 1846; the whole line, Detroit to Kensington, was opened in 1852. The lines described above as leased are all held by the Michigan Central -nominally under leases at fixed rentals, but are practically owned. In November, 1882, a close contract was made with Canada Southern :for working its road by the Michigan Central and for the division of net profits over all charges as follows-one-third to Canada Southern and -swo•thirds to Michigan Central; but the Michigan Central is entitled to an increase on this proportion as it diminishes its interest charge by payment of bonds or otherwise, and hence it now obtains more than two·thirds of the net income. STOCKS AND BONDS.-The Michigan Central stock has remained at the same amount since 1873. Dividends since 1870-In 1870-71, 10 per cent; 1871·72, 10; 1872·73, 5 and 4 in scrip; in 1874 to 1877, inclusive, nil; in 1878, 2; in 1879, 312; In 1880, 8; in 1881, 612; in 1882, nil; in 1883, 5; in 1884, 3; in 1885 _and 1886..? nil; in 1887 and 1888, 4; in 1889, 4; in 1890, 5; in 1891, ,-5; in 189~, February, 312, Price of stock: In 1880, 75@13018; in 1881, 84~ 11>12612; in 1882, 77@105; in 1883, 77'@10018; in 1884, 51~@9412; in 1885, 461211>79~; 1n 1886, 6112@98~; in 1887, 80@9512; in 1888, 72@9218; in 1889, 8412 @9914; in 1890, 8311>104~; in 1891, 87¼@109 7e; in 1892, to Jan. 22, ilnclusive, 104@1067e. The Jackson Lansing & Saginaw bonds were assumed by Mich. Cen• :tral, which also pays $70,000 per year on the stock of $2,000,000. The total issue of Battle Creek & Sturgis bonds is $500,000, hut of :this $79,000 was subguaranteed by the Lake Shore & Michigan South• -em., 7 miles of the B. C. & 8. being operated by that company. OPERATIONS, FINANCES, &c.-The road is operated under a close con• tract with Canada Southern, and the earnings of both roads are included tn the statistics below. In 1891 the earnings (December partly estimated) compared as fol• ilows with those in 1890. See V. 53, p. 337: 1891 (Est.) 1890 (.A.etual.J Gross ~arnings . ............................... 15,oJ5,000 •Operatmg expenses and taxes ... . .. . ........ 10,938,000 Per cent...... . .............................. (72·90) 14,4!0,000 10,731,000 (74·06) Net earnings . ........•.......... . ......... 4,067,000 ·interest and rentals .......................... 2,440,000 3,759,000 2,454,000 Surplus earnings .......................... 1,627,000 .Proportion to Canada Southern Co.......... 451,000 1,305,000 356,000 .a>roportion to Michigan Central.............. 1,176,000 \In.come from investments..................... 55,000 949,000 57,000 Net income................................ 1,231,000 iEquals per share for Michigan Central...... ($6·57) 1,006,000 ($5·37) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 312 7&5 4 6 5 212 8 8 5 5 3 g. 3 g. g. g 7 3¼ 6 g. 6 g. 6 g. 6 g. 5 g. g. i 8 6 6 6 5 6 g. g. g. g. F. & A. N. Y. Gr'd Cent. Depot. M.&N. N. Y., Union Trust Co. J. & J. do do M.& 8. do do M.&N. do do J. & J. do do M.&N. do do M.&N. do do M.& 8. do do M. & 8. do do J. & D. do do J. & D. do do M.&N. N. Y., N. Y. Busa, & W. J. & D. do o N. Y., N. Bk. of Com'rce. F."·&··A. do do M.&N. do do J. & J. do do M. & 8. do do A. & 0. N. Y., 8. 8. Bands & Co. F. & A. N. Y., Bk. of Commerce. F. & A. do do l\:(.& N. do do J. & J. N. Y., 8. S. Sands & Co . J. & J. do do J. & J. do do J. & J. N.Y.,36WallSt. &Bost. J. & J. do do A. & 0. do do Feb. 1, 1892 May 1, 1902 Jan. 1, 1940 Sept. 1, 1909 Nov. 1, 1939 Jan., 1892 May 1, 1902 Mah 1, 1901 Mc . 1, 1931 Sept. 1, 1901 Dec. 1, 1989 Dec. 1, 1989 Nov. 1, 1911 Dec. 1 1896 Feb.16,1891 Feb.15,1892 May 1, 1921 July 1, 1924 Mch. 1, 1925 Apr. 1, 1896 Feb. 1, 1907 Feb. 1, 1929 May 1 1911 Jan.14, 1892 Jan. 1, 1900 Jan. 1, 1913 July 1, 1912 July 1, 1912 Apr. 1, 1904 I The annual report for 1890 was ht V. 52, p.717, showing follow1ng: 1887. 18F!8. 1889. 1890. Miles operated...... . .1,537 1,537 1,540 . 1,609 Gross earnings ...... $14,164,490 $13,770,523 $13,786,925 $14,490 711 Operating expenses. 9 875 246 10 086 606 9 895 158 10 731 '754 ' ' ' ' ' ' ' ' N t · 4 289 244 3 683 917 3 891 767 3 758 95 p 69·72 , 73·24 , 71 •77 , 74·06 7 INCOME ACCOUNT. 1887. 1888. 1889. 1890. $ $ $ $ Net, incl'g other inc.. 4,341,962 3,739,193 3,938,433 3,816,450 ~o~~~~t~to earns: , Disbursements- Rentals paid. ......... 184,310 Interest on debt ...... 2,351,619 Miscellaneous . .. . .. .. 32,513 Can. Southern share.. 540,870 184,310 2,336,782 15,938 339,161 184,310 2,328,216 7,731 · 407,444 184,310 2,270,022 134,723 355,633 Total.............. 3,109,312 2,876,191 2,927,701 2,944,688 Surplus fordiv'ds.. .. 1,232,650 863,002 1,010,732 871,762 Dividends ............. (4) 749,528 (4) 749,528 (5) 936,910 (5) 936,910 Surplus ........... 483,122 113,474 73,822 *def.65,148 * Balance to credit of income account .Dec. 31, 1890, was $2,099,392. -(V. 51, p. 680,909; v. 52, p. 717,831,973; v. 53, p. 337.) 1'.llddle Georgia & Atlantic -In operation from Maaohen to Eatonton, Ga., and projected from Savannah to Atlanta, about 236 miles. Construction undertaken by the Seaboard Construction Company, which owns most of the stock. J. D. Weed, Pres't. )V. 53, p.126.) Mll-waukee Lake Shore & Western.-(See Map.J-Owns Lake Shore Junction to Ashland, Wis., 387 miles ; Monico to Hurley, 88 miles; branches (seven in number) to Oshkosh, Wausau, &o., 115 miles; branches to mines, 30 miles; spurs to mills, &c., 40 miles; total owned, 660 miles; leases, Milwaukee to Lake Shore Junction, 4 miles; St. P. E. G. T., Clinton to Oconto, 56 miles, and spurs, 4 miles; total leased, 64 miles; . total owned and leased, 723 miles; but only 699 miles operated, 24 miles of spurs being leased to various manufacturers. Wausaw to Marshfield, 42 miles, completed in 1891. In December, 1891, the stock was exchanged for stock of the Chicago & Northwestern 'RR. Co. on terms mentioned under the title of that company in this SUPPLEMENT. The debentures are convertible into stock at par at any tifne within t~n days after the date fixed for payment of diVIdends on common stock. The equipment bonds are redeemable $30,000 per year at par; the equipments of 188::i $100,000 per year at 105i and the Ontonagon 1st mort. $25,000 per year at par, and all redeemab eat 105 The extension and improvement mortgage of 1889 (trustee, Central Trust Co1!J-pany), covers the whole road, su°Qject to prlormortgages, and is a first llen on new branches. Under it are reserved sufficient bonds to retire the debentures of 1887. Its sinking fund commences in 1893 and will receive yearly not less than $25,000; these bonds are not subject to call. January 1 to Sept. 30, 1891 (9 months), gross earnings were $2,662,854, against $2,923,114 in 1890; net, $975,850, agamst $1,071,· 737. Estimated results for 1891 in V. 54, p. 119. The annual report tor 1890 was in V. 52, p. 532. 1887. 1888. 1889. 1890. $ $ $ Gross earnings .•.••••• 3,180,621 Net earnings .....•.... 1,240,323 Other receipts......... 47,733 2,836,783 1,091,774 12,989 3,474,667 1,520,463 15,294 3,84Z,567 1,432,637 24,866 Total net receipts. 1,288,056 Interest paid*......... 517,687 Rentals and miscel.. • 31,307 Dividends............. 430,000 Rate of dividend ...... 7 on p. 4 c. 1,104,763 579,305 29,593 300,000 6 on pref. 1,535,757 671,499 31,764 490,000 7onboth. 1,457,503 703,050 37,869 506,289 7on both. Balance...... . • • . . 309,062 195,865 342,494 t210,295 t Of this balance $55,000 was used for redemption of bonds and $105,000 for sinking :fund. -(V. 52, p.121, 126,278,280, 532; V. 53, p. 95, 921; V. 54, p. 119.) Milwaukee & Lake Wlnnebago.-Owns trom Neenah to Bchleisingerville, Wis., 65miles. Built in 1882 andleased for 99 years to Wis. Cent. at 3712 per cent of gross earnings as rental; but after $175,· 000 per year is received, the balance of net earnings is to be equally divided. The $1,000,000 debentures were authorized to be issued as required for improvements, and they are convertible on any coupon day into preferred stock; the lessee pays interest on them during :first ten years after issue. Preferred stock, 6 per cent cumulative, $780,000 · common stock, $520,000 ;par of shares, $100. Dividend of 3 per ceni on preferred stock was paid July 15, 1888, 1012 in 1889; 9 in 1890, and 412 in January, 1891. Preferred stock is now regularly paying (Feb. and Aug.) its dividend of 412 per cent, bein~ regular preference of 6 per cent, and, on account of accrued back div1dend,an additional 3 per cent-I: e., 9 per cent per annum in all. In 1890·91 rental was $198,591; m 1890, $211,109; in 1889, $186,378. INVESTORS' SUPPLEMENT. [VOL. UV. Subscribers will conCer a great Cavor by giving Immediate notice oC any error dlscoTered In these Tables. RAILROADS. Miles I Date For explanation of column headings, &c., see notes Roofad. _Boonfds on first page of tables. I INTEREST OR DIVIDENDS. Bonds-Prlm,t Size, or Amount - - - ~ - - - - -- - - - - - - - pal,When Due-. Par Outstanding Rate per When Where Payable, and by Stocks-Last Value. Cent. Payable Whom. Dividend. --- ----1------·1---- ----1-----------I·------ Milw. & Northern-lat mort., Schwarz.to Gr. Bay.c* 126 Cons. M. ($17,000 R.m.),lst M. north of Gr.Bay.c* 362 Mine Hill tf: Schii11tki l Have11,-Stock 7~ p. c. rental 53 Jfinr.ral Range-New consol. M., gold, red. at 105.. c 17 Minneapolis & l:it. L.-lst M.,Minn.toMerriam Jc.c* 27 1st rnort,\rn,ge, Merriam Junction to State Line.c* 93 I 1st M. Minn.&Dul.,Miun.to WhiteB.La1re, uar .. c* 15 1st mort., ~old, coup. (Al. Lea to Fort Do ire) .. c* 102 Jrop. & eqnip. M., 1st & 2cl ser., jun. lien on ioad.c* 360 Mort.on Southwestern extem1ion($12,000 p.m.)c* 53 2d, M.,iuc.,red.at 100, g. (WhiteB'r to Ft. Dodge)c* 224 Pacific extemdon, 1st mortga.ge, gold. __ .. . ..... c* 92 Minn. St. P. cf: S.Ste . .Jfa1•.-M.S. St.M:&At. 1st M. g.cK 495 Minn eapolis & Pacific. 1st M., $15,000 p. m., g .. cw 286 Consol. M. (for $21,000,000), $20,000 p. rn., g .. c* 800 Missifu.r·i J1ansus & 'J'e.c.-New stock($13,000,000pf.) Tebo. & Neosho 1st DJort., gold, s. t., red. at 100.. 100 New 1st mortgag-e, gold .. . .. ..................... . 10 :New 2d niort., (luconietill Aug., •~5) gold._. ....... 1,601 Da11as ·& Waco 1st M.,$20,000 p,m., g.,p.& 1. gu.c* 1,601 Deui,;on ~ Washita ls1 mortgag-e, gnar............ 67 ·-shetillk.11 DMisoil & Dallas 11,t M., gold. --- - . . . . . . 15 Booueville Bi·id,g-e, leased,lstM.,g.,gn.,dr'n at 100 M~sottr'i Pr-tcific_:Stock .............................. ac. RR. or'Mo. li;;t DJort., fI., extenden in 1888 ... 283 2d ruort., extended in 1891 in gold ...... ..... . c 283 lRt mortg-age. real estate, f\Xten"dt'd in 1892. - .. ll't ruortiraire Carondelet Branch, gua.r ...... ... ·13 3d M. (eovering- all property of Pacific RR. of Mo.) 296 1st mort. on St. Louis & Lexiug-ton (Mo. Pacific) 55 Consol. M.,g.,$30,000,000 ($15,286,000 res'd) .. c* 1,060 8 1880 1884 ..... $1,000 1,000 50 1891 500 1877 1,000 1877 500 &c. 1877 1,0.00 1,000 1879 1,000 1882 1,000 1880 1,000 1880 1,000 1881 1,000 1886 1,000 1886 1,000 1888 100 1,000 1,000 1891 1890 500 &c. 1890 500 &c. 1,000 1890 ---- 1,000 1,000 1873 100 --· · 1,000 1868 1,000 1871 1872 500 &c. 500 1873 1,000 1876 500 &c. 1880 1,000 1880 ---- i870 .... ---· $2,155,000 6 J. & D. N.Y.,Ch. Mil.&St.Paul 4,003,000 6 J. & D. do do 4,081,900 3¾1 .T. & .T. PhUa.,Offlce, 119 8. 4th. 600,000 5 g. J. & J. New York, Agency. 455,000 7 g. J. & J. LaRt paid July, 1891. 950,000 7 g. J. & D. LaRt paid June, 1890. 280,000 7 g. M.& N. Last paid May, 1891. 1,015,000 7 g. J. & D. Last paid Dec., 1887. 4,000,000 6 J. & J. Last paid July, 1887. 636,000 7 g. J. &D. Last paid DP-C., l 887. 500,000 7 g. J. & J. Last p aid Jan., 1888. 1,382,000 6 g. A. & O. LaAt paid Oct., 1890. 10;000,000 4 (5 g.) J. & J. N. Y., Morton, B. & Co. 4,290,000 4 (5) J. & J. do do 6,710,000 4 (5 g.) J. & J. do do 60,000,000 ··1·g. J ...&·n. N. Y. Office, 45 Wall St. 187,000 20(J,000 M.& N. 5 do do 39,774,000 4 g. J. & D. do do 20,000,000 4 g. F. ·& A. 1st coup. paid Feb. '92. 1,11:~.ooo 5 g. M.& N. N. Y. Otlice, 45 Wall St. 305,000 6 J. & J. 726.000 7 g. M.&N. N. Y., Centrai ·T~mit Co. 47,43:!,850 1 Q.-J. N. Y., Mercantile Tr. Co. 4 g. F. & A. 7,000,000 do do 5 g. J. & J. 2.573,000 do do M.& N. 800,000 5 do do 245,000 6 g. A. & 0. do do M.&N. 3,828,000 7 do do 650,000 F. & A. do 5 do · 14,904,000 6 g. M.&N. do do June 1, 1910 June 1, 1913 .Tan. 15, 1892'. Jan. 1, 1931 Jan. 1, 1907 Jnne 1, 1927 May 1, 1907 June .I, 1909 July 1, 1922 Dec. 1, 1910 Jan. 1, 1891' Apr. 1, 1921 JnJy 1, 1926 Jan. 1, 1936 July 1, 1938' Jniie"1; "j 90~ May 1, 1921 June 1, HIHO Jn~e 1, 1990 NOT, 1, 1940 Ma:y· 1,..190G July lf>, l 8!ll Aug-. 1, 1938 July 1, 1988 July 1, 1938 Oct. 1, 1893 Nov. 1, 1906 Ang. 1, 1920 Nov. 1, 1920 m:nwaukee&Northern.-SEKCHICAOO MILW.AUirnE &8'1'. PAUL. 16 mileR); total proprietary lines, 401 miles; total length o:l' :,ll owned Jiu,~" operated, 1,4-45 miles. Mineral Range.---:Houghton, M!ch., to _Calumet, Mich., ~5 mile~; Opei·are,., jointly with Texas & Pacific-Fort Worth to Whitesboro, 71 branch Franklin Stat,ion to Franklm, 2 miles~ tota], 17 nnles. This road ~as under the H. 8. Ives' management, and October 1, 1887, defaulted in payment of interest. '.rhe receiver appointed in June, 1888, was diflcliarged November 30, 1889, and road restored to company. In 1891 the old uonds were nearly all retiretl, the new capitalizatiou llein" ~00,000 stock and $600,000 consQlidated first mo11gage bonds. Tlie 'i'..ew bonds co,er all the property, ineluding $250,000 of Hancock & Calumet stock, which is five-sevenths of the whole issue. From July 1 to Be:i;,t. 30, 18Hl (3 months), net earnings were $23,800, againRt $20,719 ID 1890. . . Jn 1890 groRs earninirs, $125,469; net, $60,053. Gross earnmgs m 1889, $109,775; net, $47,845. President,Charles Bard; Secretary, John Tully, 40 Wall street. (V. 52, p. 390, 571.) 1'Jinnea1>olls&St.Lou1s.-Owns mainline.Minneapolis to Anl!US Ja. 259 miles; Pacific Division, Hopkins to Morton, 92 miles; Kalo Br~nch, 2 mile8; Lake Park Branch, 1-½! DJiles; total operated, 354-½l ruiles. Leal'es trackage trom Minneapolis to St. Paul over St. Paul & Northern Pacific Railroad; also owni'I from Mhmeapolil' to White Bear, 12 miles, which Is lea.Red to the St. Paul & Duluth Railroad. Of the bonds iRsued m1der the 1877 mortgaire, due Jnue, 1927, those nlllllbered from 1,101 to 1,400, for $500 each ($150,000 in an . In addition to those above), were assumed by the Bnrlin1-rto11 Cedar Rapids & Northern RR. PrefeITed i-tock. $4,000,000 issued: common Rtock, $6,000.000 iARned ; par of both $100 per share. The Jan., 18~8. coupon on equipment bonds went to defanlt. W. H. Truesdale. Pre,ndeut, Wal-' appoiuwd receiver in Jm1e, 1888. in the foreclosure snit umler improvement and equipment 11101-tg-ag-e. The suit is pending- and re11nrn,nizatio11 bas bet>n long delayed. The last coupon 1mid on each issue is showu 1n the ta.hle. ahove. The Farmers' Loan & Trust Company brought suit in May, 1891, to get posse><Riou of that portion of the road covered by tile mortgai:e of whicil it is trustee. '.rhe caAe was appealed to the Supreme Court of Minuei;;ota. SeeV. 52, p. 718,940. Ji'rom ,July 1, 189 1, to Nov. 30, 1891 (5 months), gross earnings were $922,3 ,•6, a~ain><t $726,005 iu 1890; net, $-!O 1,619, agaiui;;t $250,571. :Fiscal year endR June 30. Report for 1890-91 was given iu full in CHRONICLE, V. 53, p. 602. 1888-89. · 1889-90. 1890-91. $ $ $ Grossearnings ....... _.......... .... .... 1,330,519 1,!'i07,124 1,605.364 0}Jeqitiug expenses and taxes........ 996,559 1,001,950 1,0H9, 14l"i Net earning-s . ........... . ........... 333,960 Total net hi come. _......... . ....... _ 431,665 Dcrluct- Reutals. _. ________ . _................ . . _.. Interest paid during year_ ....... ___ ... 63,R73 9,800 505,174 612,0,U 536,21R 651,477 62,281 31:!,873 65,025 217,8h0 ---- TotaL ... _. _.. __ ...... __ . ____ ... . __ . 73,678 375,154 282,885 Balance over intere~t and rents paid. 357,992 236,887 *368,592 * Additionrtl .-xpenditures out of income for lowering and bridging tracks in Minneapolis, 111::w DJachine shop, equipment, &c., '$269,29,1. -(V. 51, p. 84, 142, 425; V. 52, p. 321, 608, 642, 681, 718,940; V. 53, p. 368, h02.) Minneapolis St. Paul & SauJt Ste. Marie.-(See Map.JFrom Minneapolis to Sault Ste. Marie, Mich., 491 mileR ; branches, :.!8 mile,1; from Minneapolis northwest to Boynton, D a k., 286 miJes; total completed, 805 miles. Formed May, 1888, by consolidation of tlie Minueapoli s Sault Ste. Marie & Atlantic, tile Minneapolis & Pacitlc, etc. (See V. 46, pp. 538, 609.) Controlled in tile il)terel-'t of the Cuuadian l'acitic, which guarantees by endorsm11e11t 4 per cent iuterest on the boudR. (See V. 50, p. 784; V. 51, p. 289.) About <me-half tile Minnc>apolis & Pacific houds anri practically all of the otiler isi:mes have assented to the reduction of interest to 4 per cent. Abst~·act of Minneapolis Sanlt Ste. Marie .._\i A tlautic mortga,1re in V. 45, p. 243. The cousolidatcd mortgage of 1888 (tru,-;tee, Central Trust 00111pany, mortgag-e abstract CHRoNwu:, V. 47, p. 142) will retire the prior bonds at maturity; see V. 52, p. 608. Stoek-comwou, $14,000,000; preferrecl. !t7 ,000,000: par, $100. From J :rnn:u·y 1 to Nov. 30, 1891 (11 monthA), g-rosA earnings were $2,299,907, a~ai11st $1,851.785 iu 1890; uet, $915,870, ag-aim,t $<->08,390. Iu ll:'90-Hl (year ending Juue 30) grosR earuiugs, $2,013,651; 11et, $684,3'Ll: <letkit uucler interei;;t, &c., $~43,6fio. In 18UO g-ross earu.iu"s were $2,Ul ::5,370; uet, $669,004. ln 18tm ;.:Toss, $1,651,4.12; net, $609,570.-(V. 49, l), 373; V. 50, p. 801; V. 51, p. 239, 4.16; V. 52, p. 280, 608.) Inho.iouri Kansas & T~xas.-(See Jfap.) ROAD OwNJm ANIJ OPERATE1>.-0wns frolll Hannibal, Mo., to D e11ison, Texas, 577 111ilc:-: braueltes, Par,-;ou,-;, Ka,n., to Junctiou City, Kau ., 157 mile;;; Deuir,;011, Tex., to White,-;IJoro, 25 mile><; Fort WortiJ to Taylor, 162 1uiJe,.,; 1Je111son to M:i11eola, Texas , 10:1 mil e r,;; three small brauclles, 20 miJei;;; total ow11 e1l, 1,044 mile,-, not i11cludi11g 54 miles leaRed to the Missouri Pacitic. Pro11rietary liues in Texas (m1tire stock owued): Deutou, T exa,-; . to l>alla", Texas, 37 miles; Dallas to Greeu\'ille, 53 rnileR; Whitc•Rllm-o to HenrieHa, 87 miles; Taylor to Bog-g-y Creek, !:JO milei;; Sau Marcos to Lockllart, Hi mile!'.; 'frinit,r to Sal,iue, 67 mill';;; Dallas & Waco RR-Dallas to Milford 51 miles extension since com 1leted https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis miJes. Leases Kansas City & Pacific Railway-Paola to Stevens, 130 miles; 8. D. & D. Railway-Demson to Sherman, 10 miles; total ov.erated 1,656 miJes. Also operates the Denison & Washita RR., 15 nnlea. The Holdeu branch adrlit10nal, 54 miles, IR owned by Missouri Kansas & TexaR, but leasen to Missouri Pacific. East Line & Red River RR.JefferAon to McKinney 153 miles (of which 121 miles narrow gauge) is operated separately by W. M. Giles as receiver URGA?\IZATIUN, HISTORY' &c.-The Missouri Kansas & Texas Compnay was or,rcanized Apl·il, 1870. In May, 1881, It was leaRed to the Mo. Paoit1c, but on June 1, 1888, default was made on interest payments and a foreclosure suit was begun. Reorganized in 1890, without foreclosure, in accordance with the plan of the OJcott Committee in V. 49, p. 719, the old first mortgage being paid off at par. Tlle receivers were diaclmrl-{ed July 1 and Mr. H. C. Cross was elected President. See V. 52, p. 899; V. 53, p. 21. In October, J ~91, the "M. K. & T. Railway Co. of Texas" was formed.with a capital of $8,000,000 to consolidat~ all this company's roans in Texas. V. fl3, p. 640. The East Line & Red River RR., most of whose securities are owned hy this company, wa1,1 sold in January. 1892, and became part of thQ Rp<tem covered by the mortgages of 1890. The company has a land gl.'aut In the Indian Territory of 3,622,400 11,creR, subject to the extingufshment of the lndian title. The Booneville Bridge Company ts a separate orf;!anization. The !'tock of the International & Great Northern Railroad was aeqnired by Missouri Kani;;a,R & Texas in May, 1881, by an excbanire of two shares of Mls,-;onri Kaut>as & 'fexas stock for one of International &. Great Northern. This stock (97,284 shares), in accornance with tllereor)!anization plan, is held joiut]y by the Missouri Kausas & Texasand Mii;;Rom·i Pacific, the control being vested in Mr. F. P. Olcott, whollolrls 1,000 shares. SToc1,: AND BoNns.-Tlrn new !'tock is $13,000,000 4 per cent noncnrnnlative preferred and $47,000,000 common. Price of new preferred stock: rn 1890, 16-½!1i>3l1s; in 1891, 19¾1iJ293.,1; in 1892 to Jan~ 22. inclusive. 291iJ331s. Full abl'ltractR of tile new 1'1Tst mort~ag-e(trustee Central Trust Company► and of the new second mortg-ag-e (trustee Mercantile Trui;;t Cornpa11y) were in V. 51, p. 49f>. Both mortgages co,er the secnrities of proprietary lineR, as well as the li11eR owned directly. Paymeut of iuterei;;t on the uew secoml mnrti:aitP bonds is uot oblig-atory till after An!!, 1, 1895, ancl is not cnmnlative, lmt in Feb., 1892, the coupon of 2 per cent was paid. Iuterest is ir1rnra11tee<l on $2,500,000 Kan,-;as City & Pacific 4 per cent bourls and $752,000 Booneville Bridge 7s, and principal and intflreflt on Dallas & Waco bonds (issue limited to $2,000,000). From Jan. 1 to Ang-. 31, 1891, grost-i earnings on l,fi46 miles were $5,::!32,fi79, againAt $5,114,538 on 1,650 miles in 1890. For the same period the Kansas City & Pacitlc, gross earnings were $231,495, against $209,91(-l in 1890. Report for 1890 was in CHRONICLE,V. 52, p. 640. Earnings, etc., have beeu as follows : TRAFFIC AND EARNINGS. 1889. 1890. 1,777 Miles operated (average) . . . . . . . .. . . . . • . . . . . . . 1,711 Total in·oss earuht!!:s. __ ...................... $7.922,444 $9,004,005 $6,351,862 Operating expenses.......... . ........... $6,24i'>,006 $2,652,143 Netearnin~"-····· ~--··· ................ ----·· $1,677,438 P.c. or op. exp. to earn;;. (excln. of extraod'y 70·22 70·54. RECEIVERS' INCOME ACCOUNT, 1889. 189'0. Receipl,;$ $ Net earnings, including other receipts ...... $1,737,622 · $2,701,489' Disburseme11,t s- [11terest on bonds, etc....................... Rental K. C. & P. RR........................ Taxes . . _... _. __ ............................... $99,648 . _... _.. 187,266 $62,931 99,096162,280,. Total disbursements..................... $286,914 $324,307 Balauce ......... ·--- ... _..................... $1,450.708 $2,377,182: -(V. 51, p. 172. 416, 457, 494, 495,538; V . 52, p. 121, 204, 428, 463,.. 609, 640, 641, 796, 899, 902, 973; v. 53, p. 21, 95.) · illissouri Pacitic.-RoAI> OWNED AND OPl<;R,\TED.-Operatefl main lin e St. Louis, Mo., to Omaha, Neb., 496 mileA; Pleasaut Bill, Mo., tQ Joplh1, Mo., 133 miles; Verdi!!riA Valley Iudependeuce & Wei;;teru RR. arnl C:>Xt<'nsiou-Lc~roy to DeP-rirnr, Kan .. 8 1 miles; Leroy t.· r.auey Valil~y-Roper to Pern. Kan .. 5'L 11n,es; small lines in Kaui;;a", M11-<l-'ouri a nd Nehra.-<Jrn, 686 miles; total Mif1souri Pacitic syRtern proper, Jm1nary 1~ 18!11, 1,4 4.8 rniJes, of whicll 1,194 miles are owned aud 254 DJiles operated uuder 11-•ase. AJso operate>< certain "hrancb lin es" which have a separate corporate exbtm1ce, lint which are 11evertht'le81-< an iute~•Tal part of the syskrn, moRt of their bonds being- pled!!ed to secm·H 1\-Ii,-;Rouri Pacifio i><>'lleR. 'l'lle hranell liu,-.,- inelnclc> the> Ka.nAus & Colorndo Pacific, etc., a,tt'ordiug- a direet Jiue from Ottawa, Kan . to Pueblo, Col., 540 miles~ the Kausn,,- City Fort Scott & Wichita-Fort Scott to Kiowa. Kan .. C't,c., 31 O 1uiles, Thr.ir total nJileatre Jauuary 1, 1891, being 1,697 ruiles. TotnJ MiR><ouri Prw1tic and hranch 1mes, 3,145 miles. Ah<o oper:iteR Central Branch Union Pacific, 388 miles; Se<lalia Warsaw & Southern. Sedalia to Warsaw 42 miles: St. Louis Iron Mountain&.. HAP OF THE " MINNEAPOLIS, ST, PAUL Sc SAULT STE, 'MARI~ (I) Railway & Connections~ :Ileaucea Sca"le Q ~ z 0 P=l A ~ rJ1 ~ 0 0 E-4 rJ1 A ~ ~ ~ MAP OF THE cq ~ .... ~ ~ z ~ MINNEAPOLIS, ST. PAUL -ANDSAULT STE. MARIE RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 84 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. (VOL. LIV. MAP OF THE MISSOURI·, KANSAS & TEXAS 'RAILWAY. J.A.?-iUABY, 1892,J RAILROAD STOCKS AND BONDS. Sub•crlber• will conl'er a great Cavor by giving IJD.JDedlate notice oC any error dl•covered In tlle•e '.l'ables. RAILROADS. INTEREST OR DIVIDENDS. IBonds-Princl• Miles Date Size, or pal, When Du~ For explanation of column headings, &o., see notes of of Par o ~ : g Rate per When Where Payable, and by Sto~ks-La.st on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. Missouri Paci~( Continued.)Collateral trust bonds, gold ($15,000,000) . . . c*&r 1,120 Collateral trust bonds for $10,000,000 gold .... c* Boonville St. Louis & Southern RR. 1st mort..... ·44 80 Ler. &Caney Val.RR.1st M.,g.~.($10{°00 p.m.)c* Verdigris Val. Independence W. ls M.,g.,guar. 75 Missom-i Pacific sr,stem-St. Louis Iron. Mt. cl So .. . St. Louis Iron M . & So. 1st mortgage ............ c 210 2d mortgaje, gold .............................. c* 310 Arkansas ranch 1st mort., gold, land gmnt .. 99 Cairo Ark. & Tex. lst. . ... . ............. . .. c*&r 71 Gen. consol. and land gr. M. for $45,000,000 .. g 1,272 Do do stamped, guaranteed .......... 1,272 Car trusts, series D. and E ....................... Kansas & Arkan. Val. 1st M. $20,000 perm.,!,· i65 Little Rock & Ft. Smith 1st M.,land gr. sink.fun .. 165 Ten·itear coupon notes (scrip) ................... Little ock Junct'n 1st & 2d M. ($35,000 are 2d). 2 Jlobile cl Birm.-lst, gold, ~ar. ($20,000 p. m.).c&r 147 Mobile cl Dauphin Isl.-lst . g. (for $3,000,000) .c Mobile cl Girard-1st mort:rfage ($200,000 are 6s) . c ·s5 Mobile cl Ohio-lat M., g., ob. to Colum., 472 m.c* 472 1st mort., exten.,gold,Colum. to Cairo & branch. c* 55 General mortga<fiefor $10,500t0001. g. s. f ....•.. c 527 Equipment bon s ($60,119 of hese are car trusts) Monterey cl Mex. Gulf-1st. M. \·• $25,000 per m.c* 29i Montgom cl Euk,aula-lst, s. f., 15,000 not dra'n.c* 81 Mont. Tusc. cl em.-lst M., ~Id, $18,000 per m.c* Morran's La. cl Tex.-lstM. ( . 0. toMorganCity)c* io2 l8 mortgage, Alexandria Extension, gold ........ 157 1887 $1,000 $14.,376,000 1890 1,000 7,000,000 1886 1,000 400,000 1,000 1886 520,000 1,000 1886 750,000 1867 1872 1870 1872 '81to'7 1,000 1,000 1,000 1,000 1,000 1,000 4,000,000 6,000,000 2,500,000 1,450,000 18,528,000 . ... 6,956,000 782,000 3,400,000 1875 500 &c. 2,342,500 356,510 1:000 435,000 1,000 1887 3,000,000 1,000 1888 350,000 1,000 1877 1,000,000 1879 500 &c. 7,000,000 1,000 1883 1,000,000 8,169,000 1888 500 &c. '84-'90 1,000 707,555 1,000 1888 7,275,000 1,000 1,500,000 1879 1,000 1889 2,070,000 1,000 1878 5,000,000 1,000 1,494,000 1880 iss1 i"ooo iss4 Southern and leased line~ 1,550 miles; total, 1,980 miles. Grand total llfissouriPacific mileage January 1, 1891, 5,125 miles Since acquired, Houston Central Arkansas & Northern, McGehee, Ark., to Riverside,• La., 118 miles. and Fort Scott & Eastern, 27 miles. ORGANIZATION, LEASES, &c.-The Pacific RR. of Missouri was sold in foreclosure September 6, 1876. The present company was a consolidation in August, 1880, embracing the Missouri Pacific and minor roads. The St. Louis Iron Mountain & Southern stock is mostly owned by the lrlissouri Pacific, much of it having been acquired in May, 1881, by exchange of three shares of Mo. Pac. for four shares of Iron Mountam. 6TOCK AND BONDS.-Under the new regime the payment of dividends was begun on the present stock in 1880, in which year 112 per cent was paid. Dividends since have been: In 1881 6; in 1882, 614; in 1883 to 1887, inclusive, 7 yearly; in 1888, 514; in 1889, 4; in 1890, 4; in 1891, January, 1; April, 1; July, 1. The October dividend wa.s passed. Price of stock-In 1883, 86'al106 7s; in 1884, 63121i!l00; in 1885, 8912 @111¾; in 1886, 100¾1i!l19; in 1887, 84:\i1i!l12; in 1888, 66141i!89:\i; in 1889, 6412W78; in 1890, 531i!7914; in 1891, 5414@7718; in 1892, to Jan. 22 inclusive, 591i!65:\J,. The consolidated mortgage above is for $30,000,000-trustees John F. Dillon and Edward D. Adams. Of the consolidated bondlil the balance unissued is in the hands of trustees to redeem prior bonds as th~y fall due. See abstract of mortgage containing descriptions of prior liens, CHRONICLE, V: 47, p. 287. The collateral trust bonds due 1917 (Union Trust Company ol New York trustee) are secured by mortgage bonds of new railroads at $12,000 or $15,000 per mile. For securities pledged, &c., see V. 46, p. 678. As to collateral trust bonds due in 1920, see V. 50, p. 669, 874. An Increase of stock to $55,000,000 was authorized in July, 1890, of which $1,000,000 to be given as bonus with the $10,000,000 collateral trust bonds, $2 1000,000 in exchange for Iron Mountain stock, and the remainder to be ISsued as the stockholders may from time to time determine. The Leroy & Caney Valley Railroad in Kansas, 80 miles, is leased and bonds guaranteed by Missouri Pacific as also the Verdigris Valley Independence & Western. The Booneville St. Louis & Southern RR. (Booneville to Versailles, Mo., 44 miles) is leased at $25,000 per annum. OPERATIONS, FINANCES, &c.-At the meeting of directors in New York September 30, 1891, the October dividend was _passed and the stock fell on October 1 to 54¾. The statement of earnmgs and re:port of Jay Gould then made were given in V. 53, p. 474. showing a deficit in income for 9 months of $59,933 on Missouri Pacific and $1,619,273 on Iron Mountain after payment of dividends not earned and deducting the cost of refunding Cairo & Fulton 1st mortgage bonds. Gross earnings of Mo. Pac. and St. L. I. M. & So. combined for 11 months to Nov. 30 in 1891, $23,346,226, against $23,080,712 in 1890; net, $6,502,636, against $6,5451 403. The annual report of MissoUI'l Pacific for 1890 was in the CHRONICLE, V. 52, p. 425. The gross earnings, operating expenses and surplus earnings of all lines operated for the years 1888, 1889 and 1890 were as follows: AU lines1888. 1889. . 1890. Miles operated, average............ 4,813 5,019 5,125 $ $ $ Total earnings ........•...••...•••. 22,189,453 23,493,467 25,370,344 Total expenses .••••••.••.....•..... 15,852,842 15,532,883 18,002,729 Surplus earnings ... ·-····-····· 6,336,611 7,960,584 7,367,615 Ratio op. exp. to gross earn .••.. _.. 71 ·44 p. c. 66·12 p. c. 70·96 p. c. For the Missouri Pacific proper and branches (3,145 miles), not including Iro.c Mountain and other auxiliaries, the report was as follows EARNINGS .AND EXPENSES, 1888. 1889. 1890. Jl(lles o~era.ted December 31 ..... 3,119 3,119 3,145 •an••ngs$ $ $ 2,939,725 2,665,354 2,742,808 7,790,949 8,286,682 9,174,427 Mail, express and miscellaneous .. 1,647,967 1,624,184 1,589,294 tS.:f;~f~~: :: :: :::: :::.:·.-.-.:·. _.:::: Total earnings ................ 12,378,641 Total operating expenses......... 9,411,980 12,576,220 8,868,828 13,506,529 10,224,706 Net earnings...................... 2,966,661 3,707,392 3,281,823 INCOME ACCOUNT. Receipts1888. 1889. 1890. Net earnings...................... $2,966,661 $3,707,392 $3,281,823 Dividends, mterest, &c...... . .... 941,376 1,981,790 2,223,951 Total net income ............. . $3,908,037 $5,689,182 $5,505,774 Disbur sementsInterest on bonds ............. . .. . $2,535,718 $2,458,485 $2,598,143 Dividends ~aid ................... . *1,539,120 1,758,994 1,823,498 k312 Rate of diVIdend ................. . 4 4 Taxes, rentals, &c ................ . 941,523 793,275 588,187 Commissions on bonds........... . 250,000 Loss on St. L. & San Fran. stock. 283,230 g. M. & g. F. & F. & g. J. & g. M. & 7 7 g. 7 g. 7 g. 5 g. 5 g. ..5.g. 7 7 6 5 g. 61' 4& 6 ~ 6 5 6 6 7 6 g. g. g. g. g. S. N. Y.,MeroantileTr. Co. do do A. do A. do do do J. do do 8. Jan. Aug. Aug. July F eb. 1, 1, 1, 1, 1, 1917 192(> 19!,! 1926, 1926- F. & A. N.Y. Mercantile Tst Co. Aug. 1, 1892 M.& N. New York or London. May 1, 1897 J. &D. N. Y., Met:cantile Tr. Co. June 1, 189~ do do June 1, 1897 J. &D. do Apr. 1, 1931 do A. & O. do Apr. 1, 193:1 do A. & 0. do do Juar'll Jan:. .i937 do da . & . do Jan. 1,. 1900, do J. & J. J. & J. Boston, E. Atkin & Co. Apr11:·ifia do do A. & 0. J. & J. N. Y., Chase Nat. Bank. Jan. / F. & A. N. Y., Of., 32 Nassau 1 2 J ; & D. N. Y. Security & Tr. . June 1, 1897' J. & D. N. Y., Farm. L. & Tr. Co. Dec. 1, 1927' do do July 1, 1927' ~-Jan. . & 8. N. Y., Gallatin Nat. Bk. Sept. 12-19381 New York City. Var., '9 18991 :auar'ly. .& N. New York and London. Nov. 1, 19381 J. & J. N. Y. Security & Tr. Co. July 1, 1909 J. & D. N. Y., Office, 45 Wall St. July 1, 192{> A. & 0. N. Y.,S.Pac.Co.,23Broad Apr. 1, 1919 July 1, 1920,. do do J. & J. i·; 8£· s199rli (V. 51, p. 84, 171, 829, 876, 910; V. 52, p. 425, 534,761; V. 53 ,p. 474.) M18sourl Pacific ·system-St. Louis Iron Mountain & Southern.-Owns St. Louis to Texarkana, Texas Line, 490 miles;. branches to Belmont, Mo., Bird's Point Mo. (Cairo), Camden, Ark.,. Helena, Ark.: Cushman, Ark., Arkansas City, Ark., Warren, Ark., Memphis, Teill1;,, &c., 718 miles; total owned January 1, 1891, 1,208 miles. Leases Liu;le Rook & Fort Smith and Little Rock Junction railroads 172 miles; Kansas & Arkansas Valley RR., 170 miles. Total operated January 1, 1891, 1,550 miles. The general consolidated mortgage is for $45,000,000, sufficient bond& being reserved to retire all prior issues, these coverin.g only 485 miles. The mortgage is ajlrst lien on the 787 miles in Arkansas and on all unsold lands, amounting to 779,059 acres on January 1, 1891. Trustee of mortgage, Mercantile Trust Company of New York. As indicated in the table above, part of the general mortgage 5s are endorsed with the MissoUI·i Pacific's guaranty of principal and mterest. January 1, 1891,.. there were still $344,314 old incomes of various issues outstanding. The stock ($25 763,950) is nearly all held in the treasury of the Missouri Pacific Railway Co., much of it having been retired m May, 1881,by the issue of three shares of Missouri Pacific stock for four of the St.. Louis & Iron Mounliain, and a. large amount of it since. The sales ot land in Arkansas were given in the report for 1890 as 39,982 a.ores a.t. $2·89 per acre; in Missouri as 11,549 acres for $1 ·09 per acre; from.. Little Rock & Fort Smith Railroad grant 16,419 acres for $3·28 peracre. Lands in Arkansas unsold December 31, 1890, 693,217 acres; in, Missouri, 85,842 acres; of Little Rock & Fort Smith RR., 532,196; acres. The Little Rock & Fort Smith Road was absorbed by an exchange ~ its stock in 1887 (4 shares for 3 of St. Louis & Iron Mountain.) See tiile, of that company in SUPPLEMENT of May, 1888, and previou ly. The statement of earnings and income for nine months ending September 30 made a deficit of $670,678 including a charge of $661,370 fo-rrefunding the Cairo & Fulton 1st mortgage bonds; also payment of'. $948,595 for dividends, making the total deficit $1,619,273. V. 53, p. 474. The St. Louis & Iron Mountain report for 1890 was in V. 52, p. 425. INCOME ACCOUNT, 1888. 1889. 1890. 1,208 Miles operated ................... . 1,190 1, 550 Receipts$ $ $ Gross earnings ................... . 8,084,646 8,964,795 10,859,173: Net earnings ......••••••••••••.••. 2,994,614 3,773,355 3,889,487 288,529 Other receipts .••••••••••••. _•..••. 27,35~ 60,239 Total net income.............. 3,054,853 DisbursementsInterest on bonds................. 2,407,300 'Iaxes, bridge expenses, &c...... 409,003 Dividends........................ . ...... . 4,061,884 3,916,848. 2,407,621; 383,144 1,030,248 2,414,50, 798,97 773,294. Total disbursements.......... 2,816,303 3,986,779" 3,821,018 Balance for year .................. +238,550 -19,93S +240,866 -·(V. 51, p. 416; V. 52, p. 41, 351,425,428; V. 53, p. 474.) Mobile & Blrmln~haJD.-(See Map East 'Iennessee Vi1'ginia,. Georgia.J-Mobile to Marion Junction, Ala., on the East Tennessee Virginia & Georgia Road, about 147 miles; trackage to Mobile and Selma.,. 17 miles; opened in July, 1888. Abstract of mortgage V. 451 p. 274. East Tennessee Virginia & Georgia owns a majority of the srock a.ncl g11arantees principal and interest of bonds. Stock, $;000,000 (par,. $100), and bills payable August 23, 1888, $627,500. rn year ending June 30, 1891, gross earnings, $284,122, against $251,852 in 1889-90. In 1889-90 net, $61,199; interest, $150,000; taxes, $11,562; deficit,. $100,362, against $136,550 for 18S8-89. Total deficit to June 30, 1890,. $236,912. (V. 51, p 612.) Mobile & Dauphin Island Railroad & Harbor Company. -Projected from Mobile to Dauphin Island, Ala., 36 miles. Stock authorized, $3,000,000; outstanding, $90,000. Robert Sewell, N. Y .• President. Mobffe & Glrard.-Owns from Columbus, Ga. , to Troy, Ala., 85 mile . Under construction from Troy southwest to Andalu la, Ala., 53 miles of which 16 miles to Glenwood complet ed. Bonds at $12,600 permile for this extension have b een authorized, the total is ue of which must not exceed $4,000,000. Common stock, $1,137,121; preferre<t stock, $137,608, and $2,630 Pike County stock; par, $100. From June 1, 1886, road was leased to the Central of Georgia (which owns $816,150,, stock) for 99 years at a guaranteed dividend of 112 per cent per annum. on $473,400 stock. The bonds, of which $200,000 are 6s and $800,000 4s, are also guaranteed, principal and interest. In 1889-90 gross ea.ming~, $274,082; net, $78,132; interest, $48,800; taxet1, $10,115; surplu~ $19,216; dividends, $19,045; balance, $171. (V. 51, p, 570, 680.) Mobile & Ohlo,-(SeeMap.J-Owns from Mobile, Ala., to Columbus, Ky., 472 miles, proprietary line, Kentucky & Tennes ee Railroad to Cairo, 21 miles ; also branches to Starkville, &c. 34 miles ; total owned, 527 miles; leases St. Louis & Cairo Railroad, Cairo to St. Lo~ 152 miles, and track to Millstadt, 9 miles; totial operated, 68·~ Total disbursements.......... $5,549,591 $5,010,754 $5,009,828 Ba.lance for year . ................. +$1,641,554 +$678,428 +$495,946 ~ dividends actually paid in the year 1888 were 514 per oent, but the incoiqe account in the report gave only 312 as above miles. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 5 6 5 5 ) SUPPLEMENT. 86 es r--- - -------------MAP OF THE MOBILE & OHIO RAILROAD AND ITS CONNECTIONS. z I' ~ ti\ A i i ~i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis R [VOL. LIV. RAILROAD STOCKS AND BONDS. J.ANUABY, 18Q2.] NocbeB c::. j i i Tinaja 0 / - - / SIER~i\ MOJKD~ \ . Oparcos \ Zavalsa 0 Nadador s \ ' ·-.J 0 \\ o Zarca Deliciae 0 ) 0 Cienega i MAP OF THE MONTEREY AND MEXICAN GULF RAILROAD IVI https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C Pomar<> o· H .::, S.Antonio \ ~f\ ·-----·--·------·----1 \? oCntirvo INVESTORS' SUPPLEMENT. 8S I [VOL. L IV. 1::i~~~°i Subscribe r s -will c onfe r a g reat favor by giving Immediate notice o~ any error discover ed In these Table11. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. I Miles Date Size, or of of Par Road., Bonds Value. Morris & Essex-Stock, 7 p. c. guar. D. L. & W .•.... 1st mortgage, sinking fund ....................... . Convertible bonds ................................. . Gen. M. & 1st on Boonton Br. &c. (guar. D.L.&W.) -Consol. M. (for $25,000 000) guar. D. L. &W.c*&r Special real estate bonds . ........................ . Morris & Essex Extension stock, guar. 4 per cent. Nashua & Lowell-Stock,9 p.c. rental,92 yrs. B.&M. Bonds not mortgage. .. ............................ . Do do ........... ... ......................... . Nashville Ohattanooga & St. Louis-Stock .......... . 1st mortgage (for $6,800,000) ..... , .......... c*&r 2d mortgage, gold or silver .... .. .............. c* &r l.st M. on Fayette. and McM.brs. ($6,000 p.m.)c*&r 1.st mortgage on Lebanon Branch .. .... ....... .. c* 1st M. on Jasper Br. ($90,000 are 8s, due 1906)c* ..1.st mortgage on Centreville Branch, gold .... c*&r ~st M. on Tracy City Br. (Tenn. C. & I . RR.).c*&r 1st M. on Bon Air Br., 10-30s, $20,000 per mile.c* ~onsol. M., g., (for $20,000,000), $20,000 p. m . c* Duck River RR. 1st M., $6,000 p. m., assumed.c* 2d mortgage, assumed ......................... c* .Nashville & Decattt1·-Stock, guar. 6 p. c. by L. & N. 1st mort., guar., s. f. ($200,000 held in stock fd.). ..Nash. Flor. & Shejf.-lst M. for $2,500,000, g., gu.c .Nashville & Knoxville-1st mort. for $2,000,000 .. c* .s~!f '::i~~"ia~~~~~-~ ~-.~·. ~~~:~: ~: .::~:·.~:?:·~:~:~.1:rr ebraska 0' Neill Western-1st M. ($18,000 p. m.) i37 2 15 340 321 125 29 43 46 20 7 670 48 48 119 119 91 f isss In 1886 the lease of the St. Louis & Cairo Railroad (161 miles) was ~en for 45 years at a rental guaranteed to amount to $165,000 per :!'ear. Stock authorized, $10,000,000; outstanding $5,320,600; par, :$100. Lands June 30, 1890, were 685,610 acres, vaiued at $359,029. In May, 1888, the new 4 per cent mortgage for $10,500,000 (trustee, Farmers' Loan & Trust Company,) was issued to pay floating debt, r etire debentures, &c. Until September 1, 1891, interest was payable m scrip. There can be no foreclosure under this mortgage till four ,coupons are in default. Of the total amount ($10,500,000) authorized under this mortgage, there have been canceled by operation of the f!inking fund $529,500, there are held to exohange for debentures not ,exchan~ed $97,335, and the company holds in · reserve in its treasury :$2,040,:JOO. See mortgage abstract, V. 47, p. 83. There are still outetanding $26,000 Cairo extension 6s, due July 1, 1892, for which extension bonds of 1883 are reserved. Price of stock: In 1891, 26@45; in 1892, to Jan . 22 incl., 3712@4214. .Fiscal year ends June 30. Report for 1890-91 was in V. 53, p. 601. INCOME .ACCOUNT. Receipts1887-88. 1888-89. 1889-90. 1890-91. Gross earnings* .. . ... $2,,1.629,536 $2,881,474 $3,173,431 $3,559,138 :Net earnings .......... .;,710,392 $934,781 $1.070,918 $1,215,713 Disbursements- $480,000 165,000 . . . . . .. . 73,752 $480,000 172,127 232,925 93,504 $480,000 191,914 312,850 85,736 Total disbursem'ts $704,918 $718,752 $978,556 $1,070,500 :Balance, surplus..... $5,474 $224,879 $92,361 $145,213 * Including miscellaneous receipts from rents, etc. · Expended for additions to property and new equipment and not i ncluded above; ln 1887-88, $375,479; in 1888-89, $160,198; in 1889-90, :$208,481; in 1890-91, $24.1,980. (V. 51, p. l '7O, 4'7 5, 492, 499, 787, '830; v. 52, p. 164,203; v. 53, p. 185,584, 601.) M o nterey & Mexican Gulf.-( See ],fap.)-Owns road completed •in Aug. , 1891, from Venadito (on the Mexican Internl:!,tional Railroad) via Monterey to Tampico, on the Gulf, about 400 miles. An extension 1rom Venadito to Sierra Mojado is soon to be built. At Monterey three i'large smeltmg works are in course of construction, and at Tampico the -Government 1s makin~ a deep water harbor.J and large shipments of ibullion it is expected will go over the new roan from Monterey to Tam:pico for export. The Central Trust Company of New York is trustee of "the mortgage. Sinking fund after November 1, 1898, but bonds cannot ibe drawn. The Mexican Government gives this road a subsidy of :$14,222 per mile in 6 per cent silver bonds. Stock $100,000. In the ·-CHRONICLE of October 8, 1891 (V. 53, p. 485), was a report at length upon the condition and prospects of this road. From January 1 to August 31, 1891 (8 months) gross earnings were $576,529, against $224,815 in 1890. In 1890 on 242 miles gross earnings were $420,67; net, $284t018; interest, $266,782; surplus, $17,236. General revino Presiaent, Mexico; T. S. Bullock, Vice-President, 40 Wall ti'eet, New York. (V. 50, p. 71,484,662,904; v. 52, p. 863; V. 53, p. '126. 289, 475.) nontgoIDery & Eufaula.-Owns Montgomery to Eufaula, Ala., ~ O miles. Foreclosed May 1, 1879, and re-organized. Operated under t.eontm.ct by Central of Georgia, which guarantees the principal and interestof the bonds. Stock ls $620,000, all owned by Central Railroad f Georgia. In year ending June 30, 1890, gross earnings, $364,169; et, $128,732. • ll.lontgomery Tuscaloosa & lUemphls.-Under construction ·; troin Montgomery, Ala., on the Alabama Midland, to Artesia, Miss., on i:tne Mobile & Ohio and the Illinois Central, 183 miles, to be completed in Jucy, 1892. Stock authorized-common $1,150,000; preferred, $1,150,-000. Mr. J. W. Woolfolk, President, 45 Wall Street, New York. .Morgan's Louisiana & Texas Railroad & Steamship Com• pany.-(SeeMap_?f Southern Pacific Oompany.)-Owns from New Orl eans to Cheneyville, 204 miles; branches, 55 miles; trackage Cheney~ e to Alexandria, 24 miles; total, 283 miles. In February, 1883, the Etock was mostly purchased for the Southern Pacific Company, which <>n January 1, 1891, held $4,994,000 of_ the total $5,000,000 (par, $100). In November, 1891, stock was increased to $15,000,000. Operated 1UD.der lease to Southern Pacific Co., the lessee paying all charges and ;also 23 per cent of the net profits under the omnibus lease. ComJ>any has 17 iron steamships plying between New York and New Orleans and between Gulf ports; also wharves, warehouses ana. a :majority interest in the capital stock of the Houston & Texas Central :Bailway Company, &c. There are also $249,002 New Orleans Opelousas & G. W. 5 per cent bonds, due April 1, 1899, assumed. Dividends ;in 1888, 2 per cent; in 1889, nil; in 1890, nil. From January 1 to Nov. 30, 1891 (11 months), gross earnings were ~5,082,909, against$5,047,661 in 1890; net, $1,268,690, against$1,639,505. For year 1889, gro~s, $5,366,666; net, $1,739,295. In 1890 gross :$5,703,369, net, $2,012,491; surplus over charges $1,196,044; net ;profits due company under lease to Southern Pacific $565,799. Morris & Essex.-( See Map of pelaware Lackawana ~ Western.)-Owns from Hoboken, N. J., to Phillipsburg, N. J., 85 miles; branch, IDenville, N. J., via Morris & Essex Tunnel, to Hoboken, N. J., 35 miles; eases: Mon-is & Essex Extension RR. into Paterson, N. J. 2 miles· https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INTEREST OR DIVIDENDS. .... $50 $15,000,000 312 1864 500 &c. 5,000,000 7 Var'us 1,000 281,000 7 7 1871 1,000 4,991,000 1875 1,000 12,151,000 7 Var'us 2,795,000 412 5 .... · ioo 250,000 100 800,000 412 200,000 6 i873 .... 100,000 5 g. 1880 "ioo 10,000,000 114 i873 1,000 6,300,000 7 1,000 6 1881 1,000,000 1,000 1877 750,000 6 1,000 6 1877 300,000 '77-'83 1,000 461,000 6 g. & 8 376,000 6 g. 1,000 1883 1887 1,000 580,000 6 1887 1,000 130,000 6 g. 3,347,000 5 g. 1,000 1888 1876 500 &c. 106,000 6 & 8 1,000 34,000 6 g. 1881 25 2,227,582 3 i870 1,000 2,100,000 7 1,000 1,920,000 5 g. 1887 1,000 1,000,000 6 1888 100 2,000,000 5 1,000&c 150,000 4 <I; Int. on 1 st mortgages. $480,000 Rent ti> St. L. & C..... 165,000 Int. on general mort.. ...... .. Int. on car trust, &c... 59,918 I Rate per j When Wh ere P-Mtable, and by 0 ~~~g · I Cent. Payable om. Stocks-Last Dividend. _ _ J. & J . N.Y.,Del.Lack.&West. Jan. 2, 189 1 M . & N. do do May 1, 1914 J. & J. do do J an. 1, 1900 A. & O. do do Oct., 1901 J. & D. do do June 1, 1915 Various. M:·&-·N. Nov.,1891 M. & N. Nashua, Co.'s Office. Nov. 1, 1891 F. & A. do do Aug. 1, 1893 J. & J. do do July 1, 1900 Q.-F. New York & Nashville. Feb. 1, 1892 J. & J. N.Y.,ContinentalN.Bk. July 1, 1913 J. & J. do do Jan. 1, 1901 J. & J . do do Jan. 1, 1917 J. & J . do do Oct. 1, 1917 J. & J. do do Jan.,1906&'23 J. & J. do do Jan. 1, 1923 J. & J . do do Jan.1893 to'l 7 J. & J. do do July 1, 1917 A. & 0. do do Apr. 1, 1928 J. & J. do do Jan. 1, 1896 M. & N. do do Nov. 1, 1909 J. & D. Nashville. Dec. 6, 1891 J. & J. N. Y., 23 Nassau St. July 1, 1900 F. & A. N. Y. and Louisville. Aug. 1, 1937 M. & N. N. Y., Mercantile Tr. Co. 1918 J. & J.,New Haven, Ct., Treas . Jan., 1892 J. & D. do do June 1, 1913 a~ a~ other lines, 14 miles; total operated, 136 miles. In 1868 leased in per p etuity to the Delaware Lackawana & Western RR., the lessees assuming all liabilities and paying 7 per cent per annum on the capital stock. Th ey also agree to pay 8 per cent in case 10 per cent is earned on the stock in any one year. The Morris & Essex is important to the Delaware Lackawanna & Western as a route with terminal facilities on New York Harbor, but the actual earnings on the road show a large annual deficit for the lessee company after the payment of rental. The loss to lessee was in 1880, $1,012,416; in 1881, $985,890; in 1882, $941,550; in1883, $1,104,218; in 1884, about $1,100,000; in 1885 and 1886, about $900,000. In 1890, gross earnin"'s of road proper (119 miles) were $5,197,639; net, $1,665,914. (V. 5~, p. 280, 350 ; V. 53, p. 370.) Nashua & LoureU. -Owns from Lowell, Mass., to Nashua, N. H., 15 miles. On October 1, 1880, a lease for 99 years to the Boston & Lowell was made. In 1887 lease was transferred to Boston & Maine Railroa-d Company, whlch pays a rental of $73,000 (9 percent on stock). The funded debt of $300,000, principal and interest1 is assumed by the lessee, and the lessor holds the lessee's notes for lihe same amount$300,000. (V. 45, p. 143.) Nashville Chattanoo'o-a & St. L ouls.-(See Map.J-Owns from Chattanoo~a, Tenn., to Hic'irnian, Ky., 320 miles; branches to Lebanon. &c., 332 miles; total OJ?erated June 30, 1891, 652 miles. Also owns the Tennessee & Coosa Railroad, which will be extended so as to run from Gadsden, Ala., via Manchester, to Bell's Factory or Huntsville, 75 miles. An extension of the Jasper branch 20 miles in length was opened July 1, 1891. The Western & Atlantic, extending from Chattanooga, Tenn., to Atlanta, Ga.1 138 miles, has been leased for 29 years from December 27, 1890, ali $420,012 per annum. In July, 1891, capital stock $3,331,387 was sold to stockholders at 50, the proceeds retireing $500,000 Government bonds due June 1, and for construction and improvements. See V. 52, p. 899 ; v. 53, p. 21. A majority of the stock ($5,077,500) is owned by the Louisville & Nashville RR. Co., and pledged for its 10-40 and unified mortgages. The Tracey City branch 6s fall due $20,000 yearly on Jan. 1, 1892 to 1916 inclusive, and $100,000 on Jan. 1 1917. Of the consolidated mortgage of 1888 (United States Trust Co., trustee){ $10,807,000 bonds were reserved to retire all prior bonds. D vidends since 1880-In 1881, 3; in 1882, 112; in 1883 and 1884, 2; in 1885, nil; in 1886,. 1; in 1887, 4; in 1888, 414; in 1889, 5; in 1890, 5; in 1891, 5 p. c.; m 1892, Feb., 114. From July 1, 1891, to Dec. 31, 1891 (6 months), gross earnings, including the Western & Atlantic in 1891, were $2,871,136, against $2,074,998 in 1890; ne1i $1,130,379, against $872,210; interest, rentals, etc.1 $777,969, against ;i,526,273; surplus, $352,410, against $345,937. Fiscal year ends June 30. The report for 1890-91 was in CHRONICLE, V. 53, p. 406, showing earnings as m the table below. INCO:&IE .ACCOUNT. 1887-88. 1888-89. 1889-90. 1890-91, $ $ $ $ Gross earnings._ ......... . 3,091,653 3,300,165 3,550,460 3,943,304 Net income .........•..... 1,321,404 1,348,721 1,430,414 1,657,063 Disbursements- . Interest on debt and taxes 760,834 869,696 Dividends ................ (4)266,741 (5)333,426 Improvements ....... __ ... 145,015 60,903 873,388 333,427 85,881 914,799 333,427 142,617 Totaldisbursements .. 1,172,590 1,264,025 1,292,696 1,390,843 Balance, surplus.......... 148,814 84,696 137,718 266,2~0 -(V. 50, p. 107, 245, 353, 391, 560,735,771,874; v. 51, p. 22,207 345,415,570,609; v. 52, p. 40,832,899; v. 53, p. 21, 95, 406.) Nashville & Decatur.-(See Map Louisville cf: Nashville.)-Owns from Nashville, Tenn., to Decatur, Ala., 119miles. The road was leased May 4, 1871, to the Louisville & Nashville Railroad for 30 years from July 1, 1872, at a rental of 6 per cent per annum on the stock. The lessee assumed ail the debt and owns $785,300 of its stock. · In 1889-90 gross earnings, $1,419,647; net, $510,162. Nashville Florence & Sheffield.-( See Map Louisville & Nashville.)-Owns from Columbia, Tenn., to Florence, Ala., 79 miles, with branch Iron City, Tenn., to Pinckney, Tenn., 12 miles, and has trackage, Florence to Sheffield (Memphis & Charleston Railroad), 6 miles; total, 97 miles. Operated by Louisville & Nashville, which company guarantees the principal and interest of the bonds by endorsement, and owns $565,000 of the $708,585 stock, par $100. IJ?- 1890-91 gross earnings were $230,058; net, $31,193; taxes, $6,201; rnterest, etc., $101,009; deficit, $76,018. President, M. H. Smith, Louisville, Ky. (V. 53, p. 793,) Nau~atuck.-Owns from Naugatuck Junction, to Winsted, Conn.i 5612 mues; leased, Watertown & Waterbury Railroad, 412 miles; tota operated, 61 miles. Leased for 99 years from April 1, 1887, to New York New Haven & Harlem at $206,000 per year, earnings being included in those of the lessee. In year ending September 30, 1887, gross earnings were $725,828; net, $246,664. Nebraska O'N elll &Western.-Owns from Sioux City to O'Neill, Nebraska, 130 miles. The Pacific Short Line (including in it the Nebraska & Western) was foreclosed Oct. 23, 18911 and this company orgauized with stock of $ , and bonds of $~,340,000. (V. 52, p. 571 · V, 55, p. 157 326 Ml. e MAP Of' THE (IJ NASHVILLE, CHATTANOOGA '·:& st~' LOUIS· RAILWAY .... , r \ • ,. ~ND ·coN.N ECTIONS . IIIAMMe:ws, NORTHRUP' a co,, · iluFrALO AHi> Naw vo-■ 00 zA0 cq A ~ 00 ~ 0 0 E-4 .11:Tenlac l!bado C ~ s, . 00 ~ ~ 0 i ,......, c-i ~ .... i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 &uta ... 0 •41-4.iu. ~ -~~ ~~o~...~...,A~~~ lV-,A.. ~ -"lllt Duck Hlll _ ~~ ~ ♦~ PAO Btarrt'illl 0 lf: Bntcarille D!~~.-~~--1N o •\ ...,._o \ ........ CAUQA I INVESTORS' SUPPLEMENT. 90 VOL UV. Subscribers -will confer a great favor by giving Immediate notice of any error discovered In these Tables. I I I RAILROADS. Miles Date Size, or INTEREST OR DIVIDENDS. t~t{{;Yi~:inuc! Jl'or explanation of column hearlings, &c., see notes of of Par per When Where Payable, and by Slocks-Laai 0 _ _ _ _ _ Rate on tirst page of tables. Road. Bonds 1 Value. _ Cent. Payable Whom. Divicllmd. ~~~dfug 1 1 Nesquehoning Vat.-Bt'k, 5 p.c. gu. till 1904.L.C.&N. ·~ ~ - , ~ $1,418,600 Nevalla Central~lat M. g., income (Rinking fund).. 94 1888 1,000 750,000 Newurk & Hudson-lRt mortgage . ..... . ........... c 5 1871 1,000 250,000 Newark Somerset & Straitsv.-lRtM., ext. in 1889 .c* 44 1869 ,500 &c. 800,000 Newburg Dutchess & Con:necticnt-Iucome bonds .. r . . . . 1877 .... . 1,164,500 New Ca.~lle cf; Beaver Valley-Stock.............. . ... 15 .. . . 50 700,000 New [Javen cl: Derb.11-2d mortgage (now 1st) gnar.c* 13 1870 500 &c. 225,000 ' .CouRol. mortgage for $800,000, interest guar .. c* Mortgage on Huntington Brancl1.................. Fnurled coupon certificates........................ Real Estate Certificates............ . . . . . . . . . . . . . . . . N. Hav.& Northamp.-St'k, gu. 99 yrs.N.Y.N.H.&H. 1st mortgage . . ........................... . ....... o* Com~ol. Rink. fund $15,000 per year not drawn.c.. Northern Extemiion bonds...................... c* Bonds convertible into stock ..... . ............ c* Holy. & W., leased, 1st & 2d M. ($200,000 gu.) .c* e:wJcrseyJunctfon-lst.M.,guar.byN.Y.Cent.c&r ,e wJerseyd:New York-1st M. (reorganization).c* 2d 1.nortgage . ..................•................... r 'J(ew 1,ondon Northern-Stock........................ 2dmortga~e ...................................... o* ConRolldated mortgage ($300,000 are 4s) ....... c* Newpo·r t News d: .Mississippi Valle11-Stock.......... ~ew Orleans d: North Eastern-Prforlienmort.... o* N:J~i~~~' ft!1h·we:~i;,~~i·siii.:it;·20:oooi>·.m::i:.o. ·.ir ewOrl.&So.-PriorlienM.for$250,000r d.at105 1st mort. for $1,000,000, income for fl ,,e years. . . .N,.'J:.Brooklynd:Man.Beach-N.Y.&M.B.lstM .. c* •N.. Y. B. & M. B. 1st con. M., gold, gnar. by L. I.c~ eµ, York ti: Oanada-lstM.ster.,guar.D.&H.,Can.c 13 4 ..ifa ..27 . 17 5 34 34 121 100 121 .. . . 196 1 ~~ 66 66 14 All. 150 1888 1888 1888 1888 575,000 71,900 480.000 .... 225,000 100 2,460,000 1869 1,000 1,300,000 1879 1,000 1,200,000 1881 1,000 700,000 1886 1,000 700,000 1870 1,000 260,000 1886 1,000 1,700,000 1880 500 &c. 400,000 1885 .... 100,000 .... 100 1,500,000 1872 500 ·&c. 387,500 1880 1,000 1,112,000 . . .. 100 13,694,490 1,000 1,120,000 1 885 ½~~l> 1891 1,000 1:000 18H l 1877 500.&w. 1885 1,000 1874 £100&c ~:i~8:888 m (1) 500,000 867,000 4,000,000 ---;lg~ M. & 8. Phila., 226 Bo. Third St. J. & J. No coupons paid. M. & 8 .."'i.Y., L. E. & West. RR. M. & N. N. Y., Union Trust Co. ..... Wilen earned. Q.-J. Newca11t1e, Pa. F. & A. Bridgeport~ Ct.,1 Office. M. & N. N.Y.,HonR.~R.& B'g'pt. F. & A. Brid~eport. F. & A. ao F. & A. do A. & 0. New Haven. J. & J. do A. & 0. do A. & 0. do J. & J. do A. & O. N.Hav.,N.Tradesm'RBk 4 F. &A.N.Y.Cent.&Hnd.Riv. 6 M. & N. N. Y.,MercantileTr.Co. 5 J. & J. do do 1!\a, Q.-J. New London, Office. 7 J. & D. N. Y., B.k. otNo. Amer. 4 & 5 J. & J. do do .... . . ... . . . ...... . 6 g. A. & 0. N. Y., Central Trust Co. 5 g. 7 5 g. 6 112 7 5 6 6 6 1 7 6 5 5 4 &6 Sept. 1, 1891 July 2, 1938 Sept. 1, 1901 Nov. 1, 1929 June 1, 1977 Jan. 1, 1892 Feb. 1, 1900 May 1, 1918 1900 Feb. 1, 1900 1900 Oct., 1891 J an., 1899 Apr. 1, 1909 Apr. 1, 1911 July 1, 1896 Apr.'91- &1911 Feb. 1, 1986 May 1, 1910 J an. 1, 1986 .Jan., 1892 July, 1892 July, 1910 Nov:· 1; .i915 Jan., 1911 Jan. 1, 1940 1931 5 (1) (7) 1931 6 (7) ••••...••. 7 J. & J.N.Y.,CorbinBank'gCo. Jan. 1, 1897 Oct. 1; 1935 5 g. A. & 0. j do do · 6 g. M. & N. London, Baring Broe. May 1, 19°' gg. :f: f f 1 1ii·«ierau1t. · 1 [n 1877, 6¾ per cent; from 1878 to 1886, inclusive, 6: in 1887, 619 rrom 1888 to Jan., 1892, inclusive, at rate of 7 per cent per a.xwum ln 1889-90, company received rentals, $208,810, and Interest on improvements, &c., $35,564; paid interest, &c .• $82,092: diYidend (7 pe-r cent), $105,000; other expenses, $38,499. Bills payable December 31, 1890, $100,000.-(V. 51, p. 241; V. 52, p. 391,761; V. 53, p. 256.) New Orleans & Gulf.-SEE NEW ORLEANS & S0UTHKRN. New Orleans & North Eastern.-(See Map Cincinnati Neto Orleans & Texas Pacific.)-Line of road from New OrleanR, La., to Meridian_ Miss., 196 mileR. Stock is $5,000,000; par, $100. ThiR road helougs to the" Erlanger System," and $4,320,000 of the atook and $4,900,000ot the $5,000,000 1st mortgage ltondR are held by the Alabama. New Orleans & Texas Pacific Junction Railways Company-which Re.e From July 1. 1891, to Sept. 30, 1891 (3 month)s, groRR earuin~:s were $282,470, ag:ainst $261,319 in 1890: net, $ ,6,000, agaim1t $52,234 in 1890 In rear ending June 30, 1891, gross earnings were $1,135,859 :. net, $264,540; inte·rest paid, $365,400; interest credits, $6,465; dettmt, $94,395. In 1889·90 deficit $15,147. (V. 51, p. 303; V. 52, p., 204; V. 53, p. 289.) Ne-w Orleans & North-western.-Owus from Natchez, Miss. to Rayville, La., 77 mHes. Projected to Little Rocle, ·Ark. Stock authorized, $4,500,000-$25,000 per mile; par $100. _ Natchez Coustruotion Company contractors. In August, 1891, C.H. Hammond and W. D. J'enkins were appointed joint receivers. It is said they will complete au additional 24 miles of road partially constructed. N e ,v Orleans & Southern.-New Orleans Routh a.lon!;{ the Mississippi River to Rohe11la, witll a branch, 66 miles in au: The New Orleans & Gulf made defa11lt on coupon due 'S'o,,~mher l. 1889. and road was sold in forecloRnre March 5, 1891, the company being reorganized as now. The old b?nds were exchanged for the new tirsts. See V . 52 p. 391; V. 53, p. LJ6. Stock, $200,000 . From Jan.,ary 1 to Nov. 30, 1892 (11 months), in-011s earninirs we1-e ~L54,152, a~aln'lt $1:18,373 in 1890; net, $3,890, a.gaim1t $11,893. 1890·91 ~rORF\ earuingp. were $162,517; nt1t, $18,842. (V. 51, p. 494; v. 52, p. 391: V. 53, p. 156.) Newport Ne,vs & Mississippi Valley.-This company which Is incorporated uuder the laws of Connecticut, operates nuder lease (till 2136) the Elizabethtown Lexington & Bill Sandy Railroad from Hunw · v a., to L exmg · t K 3 il d tiugton, on, y., 1 9 tu e1-1, an (tilJ 1936) the Cllesapeake Ohio & Southwestern Railroad frotu Louisville, Ky., to Memphis, Tenn., and branch, 398 miles; total, 537 wiles. The lessee is to pay fi xed charges so f ar as net earnings s uffice, and any surplus earnings up to 6 per cent are to be divided between the lessor companies, the excess thereafter to be retained by tho lessee. On January 1, 1891, the company owned $5,708;700, Che11apeako Olli<> & . Boutllwestern common and $3,511,600 preferred stock; .$ 1,055,500 ·EHzabethtown Lexiug-ton & Big sandy Railroai;l stoclc; $3, 135,. &6 Chesapealw & Oltio common, $244,736 fl • d d $1 510 400 d f d t k o 11 t'· l'Rt preLeITe an • • secon pre erre s oc · u.e Rame date tbere was due fi•om tile Ches:,Obio & 8. W., as per balance sheet, $935,429, aud froru tho Eliz. Lex. & Big Sandy $46,853. See balance sQ.eet in V. 5~, p. 607. Central Pacffic owns $1,680,000 of ::.be 1,tock. Offices or company, No. 23 Broad .Btret't and New Haven, Conn.-(V. 48, p• 589; V. 501p. 559; V. 52, p. 60'r; > New York Brooklyn & Manhattan Beach.-From Fresh Pond Junction to Manhattan Beach, and branches tQ , Bay Ridge and G ·euro1·ut 20 u1iles Th1· '"as a consolidat1·on A1'iust 27 1885 re ' years from '· '' " 1, 1882, to the. ..LQug ls" and RR.• Co. at• Lease for 99 May 35 per cent of grosR earnings, but.the rental guara eed to- be at least $95,980 in each year; 1st consolidated bonds are eudorsed by Long Islaud Railroad on application. Stoclc • is $350,000 common and $650,000 non•cnmulative preferred (par, $100). Dividends on preferred from 1886 to 1891, both inclusive, 5 per cent per a uuum, paid semiannually, April anrl Oc'tober, by Long Island Railroad Company. Th& l'flnsolidated mortgage of 1885 is for $2,000,090; trustee is Cent al ~ust Compan,y. lI, yep,r encling J n1ie 30. 1891, rental wai,1 $11.0;8 _ O; deficit utrderinte-o~t and dividends $913 · (V 51 p 4.94) .- ~ ' . ·., · , ' . •. • ·,, . ·. . Ne-w ,York · & Canada.-01fJ1S from Whitehall,'··N. 'Y., to Roqse'a 'I= _ ...., . . . :--... Point, N. Y., 113 miles;' branclles to Baldwin, Ausable and Province, 37 New .Jersey & New- Yo.rk •.,..QWqs";fiem Errn ~Junction, N. J., tQ miles; .t otal·operated, 150 miles. Leased in pe1'.Petuity and •y-irtuall:, Garnerville, ~- Y., 29 imiles; b_r~'l.uob. '-t(j ~ew City::·etc., .!'i.~tqile~ ;_ oper· owned by the Delaw.J1re & H!.!d, Canal po., which guarante.es tbe J:)onds, a teR to Haverstraw ,., e~c:• -!1.4 m1.l es; t . tal op_er:_i,~d, 48 1~1l~s. Reorgan· a.nu has. §l3,921.,02(> mvested 'm it. The &_tock is $4,000,000;,..p_a r, $100, t ~ed after foreclosu~ JD ·Ap1'.1I -·1ss<:>. · Stuc~ outstand111g, $1,440,~00 For year endmg J'une 30, 1891 (12'montbs)·, grosP. -earni.IH.f' were $1,commou; $787 1800 pr'e'i'ei-red i' f~r.., ~;100. Q<?utr<)l_"o( road;is with pre• , 026,7:f>l;- a~aiust $1,l).;4,869 in 1889-9q; ii.et, $"241~412, ,ag-ain~'t '$45!&,,ferred stock au<l tlrRt mortgag-e,b?.pds•t111;6 per cenUlJwilJ~nds have b~en '784; tleit'Qtt nuder. c_bar~e1r$63,826, agamst surplu s or $1[>6;363. , paid on preferr·e~ _stock ~or three_ Ye~~{ Gr_?S~ ·far~))~8 \n y,~ar en~m~ -(V. 51,p. 20'.7~}>81:f V .. ::,2;tP.· ·280, 7~2 ;. V. 53, p. 224, ~6'8.J ., Juue30, 1890,$2.>3,1 4 9, expern,e s , $~Oa, 2.~.0, net ea~nmgs, $-tc7 ,.n 9 , .Ne,v York · <"entral ·· & - Hudson • River.-(See Map)-Owna snrplnR ov,•r cha,rl(f;-R, $4,37'.1. In .1890-91 gr,1•s.~ earnmgs, ..$276,609 ;. from New York City to Buffalo, N. Y., 442 miles; b1:anches on N. Y; P,_et, ~3498. 7; deticrt.under mtere st, &c., $8, 41 ~- Hew:r, I>e :Ifores~, Ceutral diyision,_ 377 miles; total owned, 819 miles; lines leased-West •iv-resictmit _ : · ·- S-:..:~ •·. , \ Shore RR. an(l branches, \\7eellawken to Bll'ffalo, 49.5 'miles; Troy & New Lon . on N~t~ern.-Qwns ~rom New London, -C~.,,, ·t11:- Gre~nlmsh, 6 mil~~~ Spuyten DuyvU •& ~ortMoi:ris,,6 'ruile11; New York :Brattl'ehoroL'::t·, n211 ·m1les. ~er,sed till December 1, 1891, "fi't'rr~ ·&~v\em, 136 rnilfl~: New Jersey Junct10n, 5 miles; Romo Watertown ~cntnl-~Verrrmnt; the renta.l l)eiJJg $1,>t,()OO for the 100 miles New & Ogdoosb~..._,S u-spension ' Bridge to Massena SP.rings, anrl branclies i[.,omlou to Miller's I!'alls; $39;000 .jor. tlre ,2~ miles Miller's Falls to 629 iuiles; ).!ra.11d-ti.1~J...fl.,0~6 rnilefl. About 300 uule , .or the Tew York · !Brattlehoro: tlle inte~~st bn· _a\lyan_ces; by; lessors for ·perma,11\'lllt Cen:.ral L>iV:h<ion has f~nu'tf•acks. 4,-lRO operat.es the•Dti):ilqrk Allegheny 1m111·ove111t·ntR ($33,706 m U~9·90'); $.~;9.00 for Brattleboro & Wll1te· Valley & P1ttHhnr~ Rrulroad, 104 miles. reported He1'latateiy. !';all. Railronu; 11111kiug tota~ ~o.ir' 1~8!1·90 $23~,7~Q. .N~gotiatiop.s ~n Jamu~ry. 1891,.lcaRed the.Beech Creek Railroad (which seel, 131 ~e ill progress tor ah extem1_b ~ 1-:1t ~ i.ttXle.~ se. , -D1viJends smcel87.6- miles, not mcluded ill above mileage. · Nesquehonln:,?: Valley.-Owns from Nesqneboninf( Junction, Pa., 7'o Tl)meneild, Pa., 17 mileP.; Tunnel Branch, Hanto, Pa., to LanRford, Pa., l lmile; total operated, 18 miles. LeaP.ed for 999 years to the LeWgh . pal'& Na\i~ation Company. In Septemter. 1884. tile lea11e waP. m11cU ed RO as topay 5 per Ct,Ut a year only. mul t.ho option to purclrn,se tile tock ut var aurt interest waR sns~en<1ed tor 20 years, with a 11:uarantee . ,t 5 per cent per annum on stock. ~ewark & Hudson.-Owns from Bergen Junction to Newark, N. .J., 6 mileR. Leased to .New York Lake Erie & Western at a rental of J17,500 per annum. Erie pays iutereRt on bondR and includes earninl?~ ,In its own statements. Stock, $250,000; par, $100. ln year ouding Sept. 30, 18l:ll, gross earuiug-11, $84,327; net, $6,8i>O; deficit under · terest, $l 0,650. Cortlandt Parker. President, Newark, N. J. N~wark Somerset & Straitsville-Owns trom Newark, 0., to Shawnee, O., 44 miles. Leased to Baltimore & Ohio till November 1, 1929 · (with right to perpetual renewal at B. & O's option) at 30 per cent of ttoss e arnings and a minimum -rental of $40,000 (interest on debt), ~tock, common $795,400, and prefot-red, $218,200 (par both, $50). ,,705,550 of the first and $191,850 of the latter bein&: owned by the althnore & Ohio. In 1889-!:IO irross earnings were ;i,178,583 ; net, . 16,124; loss to lessee, $43,890, against $37,762 in 1888·89. 'Newburg Dutchess & Oonnecticut.-Owns from Dutchess ,Junction, N. Y., to Millertou, N. Y., 59 miles. Reorganized after fore· closure in J anuary. 1877 . In 1889·90 the "halt right of way" from J)utohess Junction to Hopewell Junl'tion, with tbe partly built road thereon, was purchased for $LOO,OOO. In addition to above incomes i1tere are $150,000 1st mortg-a~e 7s, dne in 1907, and $65,000 of 5 per cent mot·tgage noteR rlue $LO,OOO yearly, J an. 1, 1892, to 1897. · In year ending June 30, 1891, groRs ea.ruin~'°' were $L 75,909; net, $30,· 237; surplus over charges, $8,964, against $28,379 in 1889·90. The .common stock is $500,000 and preferred stock $587,450; par $50. .John S. Sclmltze, President, 59 Wall Street, New York City. (V. 47, p. ·626; v. 53, p. 603.) New <'astle & Heaver Valley.-Owns from Homewood, P a., to ·. New Castle, Pa., 15 miles. Leai:;ed to PitttRburg Fort Wayne &Chicago Railroad tor 99 vears at a rental or 40 per cent of irross earnings, a,nd lease a;.;Rnmed 'by Peunsyl vauia Company. Dividends since l880 have been-in 1881, 24 per ceut; in 1882, 14 per cent; in 1883, 'J9 per cent; in 1884, 19 per cent; in 1885, 10 per cent; in 1886 and 887, 6 pe1· cent eacll; in 1888 and 1889, 10 per cent each; in 1890, 11 er cent; in 1891; 3012: in 1892, Jan., 1 i.,. Gross earnings in 1890, 211,i;;o-1,· net, $121,869 ,· rental reueived $108, 721, . ao.,.aiust $98,682 _ , 1889 Ne,•' Haven & Derby.-Owns from New Haven, CQnn., to And , O'Qut, Cqnn., i3 miles, and extension to the ~ousatoruc Railroa at · nntington, 4 n'liles. Leased to the HouRatomc for 99 years from .JdJy.-11, 1889. , the . r e!ltal. being guaranty of interest .on bo_nds aud $µ)1ited ~')oupon cert1flca,$s, and 2 pe.r . cent on stock till July, 892, tllen 3 1', er · cent till · July· , 1895, · a_'n d 4 . ner cent thereafter. . ... ~ ivilleu.d~ a:re pa1j].·directly:to •stockllolders lu semi-annual · i,nstalrnents anuary lO and July lO. Stock is $ 47 o,OOO; par, lOO. :• New Haven & • No1·tliampt0,n.-Ope1·ates from New Haven. C01in:, to .Conway Jnnotion,1• Ma11s., 95 miles; branclles-To Williams: b;nrg-,· M::.i:sR:, New ·Hartford, Coun., Turner's Falls, Mass., Taritfville, (form. , 32 Jilile,;; lea1,tis-Holyoke & Westfield RR. lO miles; total, l3 7 rnile11. [u •J1111e,1887, leaRed for 99 years to the New York New Haven & Hi1.rtfor1l a t 1 per cent (in stock till A11\'il, 1890: then 2 till April, 1893 ;· then 3 till April, 1896, an(]. 4 afterward. Iutere st on bonds is uarantee.d. Earnings a.re included iu the earnings of tile lessee. The · olyoke & Westfield lmR paid anrinn.l dividends since 187~. Its first or'tg-age bouds due April 1,.,191 II; are guaranteed prin<1ipal and interest 1 the New Haven & Nor th all!p_ton·.. _; · ; t"New .Je rsey .Tnn<'tiofl.-Teritlfnal. ro;td through J'ersey City, Hoboken- and Weehawken, conn,ectin<> the tr,w1k liti.M termiua.tin.,. at those point8; leu~1!1 a1Jont5 miles. Leased for 100- years from June 8.()• ~ 8S6, ,to ,tl:J.g .New, ,)'.ork Cc~·~ & -Hu.dSecl;l, Rive.f.-.RR., Co., wJtich cotnpany guarantees: tlie 1:ion'fl.tfl-tl,bS(?JUtely:- 7": The : .riJortgage is· ~,foV" A?.A 'OOO,OOO. • • , :i. • , • • :,? ! " t . , I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Y"· 0 VANDERBILT LINES between NEW YORK and CHICAGO. tt.5 ~ ~ ~ r:/1 ~ ·o 0 E-1 rn. ~ I MAP OF THE ..-, C'l m .... t~ z~ ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NEW YORK CENTRAL & HUDSON RIVER R. R. LAKE SHORE & MICHIGAN SOUTHERN R'Y NEY( YO~K, CHICAGO & ST LOUIS R. R. I MICHIGAN CENTRAL RAILROAD. INVESTORS' S0PPLEMENT. 92 rvoL. LIV.. l Subscribers ff'lll conf'er a great Cavor by giving llnIDedlate notice oC any error discovered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. New York Central cl: Hudson River-Stock .... .. .. .. Debt certificates (N. Y. Central) ext. 10 y'rs 1883 N. Y. C. & H., { $30,000,000 coupon or reg. mortgage... £2,000,000 Debentures (to be included in any new mort.).c&r Debentures for $15,000,000 g., s. f. not dr'n .. c&r N. Y. Ohicagoct:St.Louis-lst pref. (5 p. c. non-cum.) 1st mortgage gold, sinking fund not drawn ..... c•· N. Y . cl: Greenwood Lake-1st and 2d mort., income N. Y. cl: Harlem-Com. and pref. stock, 8 :p.c.,N.Y.C. Consolidated mortg~e, coupon or registered .. c* N. Y. Lackawanna cl: estern-Stock, guar. 5 p. ct. 1st mortgage ... ......................... ... ...... c* 2d mo~age, guar. by Delaware Lack. & West.c* Termin lmprovem'tmortgage, (for $5,000,000). New York Lake }Erie cl: Western-Stock, common .... Preferred stoc~ 'not cumulative ................... N.Y. & E. 1st · .,PiermonttoDunkirk,N.Y.,ext.c* 2d mortgage, gold (extended in 1879) ........ c* 3d mortgage, gold (extended in 1883) ........ c* 4th mortgage, gold (extended in 1880) ....... c* 5thmortgaje, extended in 1888 at4 p. c., gold.c* Erie R'y,lst .,Buff. Br. Hornellsv. to Attica, g.c* 1st consolidated mortgage, gold, $ & £ .••••.. c* ! I Miles ·Date si·ze, or INTEREST OR DIVIDENDS. Bonds-Princlr Amount pal,WhenDue., of of Par Outstanding RaCteentp.er When Where Payable, and by Stock~-Laat Road. Bonds Value. Payable Whom. Dividend. ·--- isi,3 840 840 .... ---- 5i"3 40 151 132 214 200 200 .... .... 446 446 446 465 465 60 526 $100 $89,428,300 500 &c. 6,450,000 1,000 30,000,000 1873 1873 1,000 9,733,333 1884-91,000&c 11,000,000 1890 1,000&c 8,500,000 100 5.000,000 i887 1,000 19,681,000 2,700,000 1878 100 &c. 50 10,000,000 i872 1,000 12,000,000 100 10,000,000 isso 1,000 12,000,000 1,000 5,000,000 1883 2,850,000 1890 ·ioo 77,414,500 .... 100 8,536,600 i847 1,000 2,482,000 1,000 1879 2,149,000 1 ,000 1853 4,617,000 1,000 1857 2,926,000 1858 500 &c. 709,500 1861 100 &c. 182,600 1,000 16,891,000 1870 Q.-J. N. Y., 89. Cent'lDepot. 1¾ 5 M.&N. de do J. & J. 7 de do g. J. & J. London, Union Bank. M.& S. N. Y., Gr. Cent'l Depot. do do 4 ~- J. & D. 3¾ do do A ...&..O. N. Y., Union Trust Co. g. F. & A. None paid. 4 J. & J. N. Y., Gr. Cent'l Depot. M.&N. 7 do do Q.-J. N. Y., by Del. Lack.&W. 114 J. & J. 6 do do F. & A. do 5 do 4 M.&N. do do g t ..:f 7 5 g. 412g. 5 g. 4 g. 4 g. 7 g. ..... N. Y. , 2i' ·cortiandt St. M:·&i N. do do M. & S. do do M. & 8. do do A. & 0. do do J. & D . do do J. & .r. do do M. & S. New York and Lon<!on. .Tan. 15, 1892' May 1, 1893 .Tan. 1, 1903 Jan. 1, 1903 Sept. 1, 190~ June 1, 1905 Mch. 2, 1891 Oct. 1, 1937 Nov. 30, 1909 .Tan. 2, 1892: May l, 1900• .Tan. 2, 189~ .Tan. 1, 1921 Aug. 1, 1923: May 1, 1923" .Tan: "i5; ·i89~ May 1, 1897 Sept. 1, 1919-Mch. 1, 1923~ Oct. 1, 1920.Tune 1, 1928July 1, 1921 Sept. 1, 192()11, , ORGANIZATION, &c.-This company was formed by a consolidation of the New York Central and the Hudson River railroads October 1, 1869. The New York Central was a consolidation of several roads under a special law of April 2, 1853. The Albany & Schenectady Railroad, ov.ened September 12, 1831, as the Mohawk & Hudson, was the first railroad built in the State of New York. The West Shore Railway was leased ill December, 1885, for 475 years. The Rome Watertown & Ogdensburg was leased in perpetuity in March, 1891, its debt being assumed and ~ per cent ruaranteed on its stock. See V. 52, p. 463. The Beech Creek RR. (which see) is leased for 999 years and 4 per cent guaranteed on its stock and bonds. See V. 52, p. 570. STOCK AND BONDS.-The famous serif dividend of 80 per cent on the capital stock of the New York Centra was made in December, 1868, and on- the consolidation with the Hudson River Road (November 1, 1869,) a further dividend of 27 per cent was distributed on the New York Central stock and 85 per cent on the Hudson River stock. Under the lease of the West Shore Railway $50,000,000 of 4 per cent bonds were guaranteed and $10,000,000 West Shore stock ta){en as consid- eration. Of the $11,000,000 5 per cent debentures due 1904, $1,000,000 registered bonds, dated in 1889, have no mortgage privilege, but have a etock conversion privilege, while debentures of 1884 have not. In June, 1890, $15,000,000 debenture 4 ~er cents were authorized for improvements. They are to be included m any new mortgage, and have a sinking fl.md of $300,000 yearly-no drawings. Dividends.-From 1 869 to 1884, inclusive, 8 per cent per annum; in 1885, 312 per cent. From 1886 to 1889, inclusive, 4 yearly; in 1890, 4¾; in 1891, 412; in 1892, J a n., 112. Price of stock.-In 1880, 1221i> l553s; in 1881, 1301411> 155; in 1882, 1235811>138; in 1883, 1111211> 12918; in 1884, 831211>122; in 1885, 813411> 10714; in 1886, 98341i>ll 73s; in 1887, 1013411> 11458; in 1888, 1021211> 111;. 1n 1889, J047s1i>ll012; in 1890, 951411>111; in 1891, 981211>11934; in 1892, to .Tan. 22 inclusive, 1125s1i> l16 7s. OPERATIONS, FINANCES, &c.-The table below at the end of these remarks shows the net result of operations in each of the past six years. The fl.seal years ended with Sept. 30 till 1889 inclusive, and since then with June 30. The returns for the quarter ending Sept. 30 showedli90. 1891. $11,887,987 Gross earnings ..... . .......................... $9,064,235 Net earnings .................................. $2,826,712 $4,230,984 i,466,929 First chai·ges .................................. 2,082,000 Profl.t.............. ....... .............. . . .. $744,712 Dividends (1 p. c. quar.)... .. .... . .. .... .... .. 894,283 $1,764,055 894,283 Balance . .. , ............................... tlf.$149,571 sur.$869,772 Year ends June 30. Report for 1890-91 was in V. 53, p. 518. The ~ures for 1890-91 include the Rome Watertown & Ogdensburg after 15 1891 arch • · 1888-89. 1889-90. 1890-91. Gross earnings ......... .... $35,441,096 $37,008,403 $37,902,114 Oper. exp., includ. taxes... 23,885,801 24,492,130 25,370,852 ----- Netearnings ................ $11,555,295 $12, 516,274 P. c. of oper. exp. to earru. 67·39 66·18 INCOME ACCOUNT. 1889-90. Rueiptt,$ 12,516,274 Net earning~ ............. .......... . ·- ... . 111,030 Bt;bu.te on State tax of p1·ior yeari, .....• $12,531,262 66·94 12,627,304 12,620,002 4,053,393 3,590,535 Interest on debt . .. ............ . ....... . . . 209,884 'l'u.xes on ean1ings and capita.I s tock ..•• Dividends .............. . . ..... ..... . ...•. (412) 4,024,273 :Reserved for debentures .... . .•..•...•.. lilisoollaneous ......... . .. ............... . 4,452,100 3,854,9138 274,896 (4) 4, 024,273 300,000 72,222 Tott1,l incu1nc •••..•• . •.•.•••.•.•..••.. .Dishursem enls:Rcutals paid ....... . ....... . ... . ....••.... Total disbursements..... .... .. ....... 1890-91. $ 12,531,262 88,740 11,878,085 12,978,459 sur.749,219 def.358,457 rYear Net Income Diviending Passenger Frei~ht (ton) Gros@ over exp., dend@, Bep.30. Mileage. Mileage. Reoofpts. int.&rm1t1.<. P·"· Surplus l.ts86 . .476,128,729 2,414,266,463 $30,506,362 $4,G50,l O 4 $1,072,968 1887 . . 52~,308,7 42 2,704,732,176 35,297,055 5,147,509 4 1,570,377 1888 .. 5 5\),816,COl 2,899,501,504 36,132,920 3,675,118 4 97,986 1889 .. 564-,292,588 2,77.5,582,891 35,696,~36 4,166,34.8 4142,074 18U0*.557,727,282 2,973.598,069 !17,008,403 4,773.4!)2 4¾ 749,219 1891*.597,406,825 2,890,066,046 37,902,114 3,649,299 412df.358,457 - • y,,ar t-ud1JJg June .. l. · -(V. 51, p. 21, 143, 4 3 7 , 4 5 5, 458, 646, 876, 910; v. 5'2, p. 203, 463, 6:H., 64~, 796; v. 53, 11 •. 6, ~2, 454,518,604,673; v. 54, p. 34.) 1'e-w ~ 01· k ( 'bica 0 & M. Louls.-(Sce ~lop of N£W Tork Oenlral ·cl: Hudson 1u,o er.)- wns from Bu1t"alo, N. Y., to Illinois State Line, 512 miles; lenflc<~ iu B,1tfalo, 112 miles; Illinois State Line to Chicago, 9 miles· total {:23 milce. Balance.................................... 0 --. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The former Railway Co. was formed in 1881 and became known as,. the "Nickel Plate." Sale in foreclosure took place May 19,1887, ancr· the present company was formed in September 1887. The 1st preferre<l stock is for $5,000,000, and has a 5 per cent preference, non-cumulative,,, and the preferred stock for $11,000,000 has next preference for 5 percent, non·cumulative; common stock is $14,000,000; par of all, $l00► Lake Shore & Michigan Southern owns $6,240,000 common, $6,275,000, 2d prefe1Ted and $2,503,000 1st preferred stock. A sinking fund ot · $100,000 per year is provided when the net earnin~s are $900,000 or-· upwards, if bonds can be bouabt at or below 102; 1f not, the sinking fund lapses for that year, thus Yeavin"' $100,000 more for dividends •. The original issue of bonds was $20,000,000, and it has been reduced-\ to present amount b.y the sinking fund purchases. See abstract o:t ' mortgage (Central Trust Co. of New York, trustee), V. 45, p. 541. Dividends-On first preferrred: In 1891, March, 312 per cent. From January 1 to S.-pt. 30, 1891 (9 months), gross earnings were$4,438,058, agamst $4,159,086 in 1890; net, $830,161, against$960,143;: interest, rentals and taxes, $762,010, againet $754,674; surplus overcharges, $76,591, against $212,734. Report for year 1890 was in CHRONICLE, V. 52, p. 760. Largerearnings were caused entirely by increased tonnage and passengers. 1888. 1889 1890. $ $ $ Gross earnings .... . ...... .. _... 4,918,217 5,090,329 5,820,306". Operating expenses and taxes. 4,113,824 4.003,544 4,678,251 Net earnings .............. . Net includ'g other income .. .. . 804,393 810,813 1,086,785 1,092,175 1,142,054: 1,154,828 Interest .. . . . . ....... .... . ..... . Rentals ...... ... . .............. . Sinking fund .................. . Dividend (312) on first pref. . . 778,240 81,416 100,000 791,680 81,139 99,954 784,57C. 87,685-, 93,748175,000, Deduct- 959,656 972,773 1,141,002' Balance ...... .... ... ... .... def.148,843 sur.119,402 sur.$13,826: -(V. 51, p. 143,240,715; V. 52,203, 280, '760, 796.l Ne,v York & Greenwood Lake .-Owns from Jersey City, N. J.,.. to Green wood Lake, 48 miles ; branch to Ringwood, 2 miles ; total, 50, miles. The New York Lake Erie & Western controls and operates it► The holders of the second mortgage of $1,800,000 have the right to pay off the first mortgage bonds o:( $900,000 at 105. Stock, !{!75,000;. par $100. Gross earnings in 1890, $224,466 ; net, $9,514; taxes, $5,647. Abram S. Hewitt, President. (V. 50, p. 873.) New- York & Harlem.-Owns from New York City to Chatham N. Y., 127 miles. From Chatham to Albany, 24 miles, the Boston & · Albany Railroad is used. This company owns the Fourth A venue street railroad. The property (except the horse railroad) was leased April 1,, 1873, for 401 years to the N. Y. Cent.'& Hudson at 8 per cent dividends. on the stock and the interest on the bonds. The preferred stock is$1,361,350; balance, common. The Fourth A venue horse railroad has. 11aid dividends annually in April, viz.: From 1882 to 1889, inclusive, 2 per cent yearly; in 1890 and 1891, in April, 212 per cent. All oper&tions included in New York Central & Hudson. (V. 51, p. 494.) New York Laell.aw-anna & Western.-(See Map of DelawareLackawanna ti Western.)-From Binghamton to Buffalo and Interna-tional Bridge and branches, 214 miles; Delaware Lackawanna & West-ern haR a lease for 99 years, giving .a guaranty of the bonds and 5 pe:v· · cent yearly 011 the stock (endorsed on the certificates). In 1890 a mortgag-e for $5,000,000 4s was authorized to reimburse Delaware Lackawanna & Western for advances. In 1890 gross, $8,087,853; net, $4,125,894, against $3,562,344 in 1889. (V. 50, p. 703.) New- York Lake Erle .& Western.-Main line Jersey Citf. toDunkirk, N. Y., 460 miles, with branches 643 miles ;·total 1,102 m1le11. Owns Piermont, N. Y., to Dunkirk, 446 milefl; llranchei;:-Newbnrg to Greycourt, 19 miles; Buffalo Br., Hornellsville to Attica, N.Y., 61 miles;. Newb. & N. Y. RR., Vails Gate Jrmction to Arden Junction, 13 miles; small lines (stock owned)1..¥ miles; total owned, 551 mile8. Leases-Jersey City to Bufferns, N. l'.. (several i-mall roads), 31 miles; Jefferson Railroad, 45 miles; Bu1falo Bradford & Pittsburg, 26 miles; Buffalo New York & Eric, 140 miles; SusJ)ension Bridge & Erie Junction, I t miles; Rochester & Genesee Valley, 18 miles; Avon Geneseo & Mounl:Morris, 18 miles; Buffalo & Southwestern, 66 miles; Northern of New Jersey, 26 miles; N. Y. L. E. & W. C. & RR., 31 miles; other small llnetr. 125 miles; total leased, 551 miles; total New Yo1·k Lake Erie & Western, · 1,102 miles. Also leases New York Pennsylvania & Ohio and ·branches, 596 miles, and owns the entire stock of the Chicago & Erie, running from Marion, 0., to Hammond, Ind., 249 miles, and leasing trackage overthe Cbicag-0 & Western Indiana, 19 miles, to Chicago. ORGANIZATION, LEASES, &c.-The New York & Erie RaUroad WMchartered .Apdl 24, 1832, and opened to Dunkirk .April 22, 1851. Reorganized 11s Erie Railwuy Com1,any in 1861, and sold under the sooond . eom1olidated 1uortguge in 1878 ; reo1·g1mized as at present June 1, 1878 The Long Dock Company ha,. fltock of $800,000, all owned by the New York Lakt' Erit, & Western: iti; property conRlsts of lands and lands under wat~r, about f-177 acrt'S, with piers, buildings, &c. The New York Lake , Erle&, Wn-tern f'onl & Railroarl Compi.n y is an au.xiliary corporation, -from which ad vu.nces of $1,398,275 are due, as p er balance sheet ot Sept. 30, 1891; in .August, 1890, $3,000,000 of its bonds were guaran•• teed principal and interest (by endorsement on bond@), the property,, J ..+.NU.ARY, 1892.] RAlLROAD STOCKS AND BONDS 93 Sub1te:rlbers -will confer a great favor by glvlag Immediate notice of any error dl•covered In thHe Taltles. RAILROADS. INTEREST OR DIVIDENDS. Bonds-PrinoiMiles Date Size, or Amount pal,WhenDue. 9'or explanation of column headings, &o., see notes of of Par Outstanding Rate per When Where Payable, and by Stocks-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. ,New York Lake Erie~ Western-(Oontinued.JN. Y. Lake Erie & West. funded cou~n bonds.c* 526 1st lien mortgage, sink. fund (not awn), g .. c* 534 2d consolidated and funded co1g!on bonds .... c* Collateral trust bonds, g., s. f. awn at 110.. c* .... Funded cou£on bonds, g. (red. at 105 & int) .. c* ..... Income bon s (non-cumulative) ................. ·Car trust bonds, ser. C. to G. incl., part pd. ann.c* N. Y. Car trust, 1888, ser. A. (guar. by D. & H.) .. .... Long Dock Co. 1st mortgage..................... c* .... Consol. mort., g., red. at 110 from land sales.c* Newburi & N. Y. 1st mort., extended in 1889 .. c* ·12 N. Y. L. . &W. Coal&RR. lstM.gu.,endorsed.c* N. Y. L. E. & W. Dock & Imp. Co. 1st mort ...... c* !N. Y. & Massachusetts-ls't mort. (for $2,750,000) .. N. Y. & N. Eniland-Stock ($20,000,000 authoriz'd) · ..... Preferred s ock, 7 per cent cumulative ........... ...... let mortgage ($6,000,000 are 7s) .•................ 321 M.,part scaled ($998,000 are 5s till Feb.,1892) 321 oston Terminal 1st mortgage ....... : . ......... c* ..... Rhode Id. & Mass. 1st mort for $1,500,000 r._ar. New England Equipment Co. 1st mort., gol .... c ---- ---· -- -· ---- il3 ro ---· ---- 1878 $500&c. $3,705,977 1878 1,000 2,500,000 1878 500 &c. 33,597,400 1882 1,000 3,344,000 1,000 1885 4,031,400 1878 300 &c. 508,008 1,000 (1) isss 1,000 (1) 1863 1,000 3,000,000 1,000 1885 4,500,000 1,000 1868 250,000 1882 1,000 1,100,000 1883 1,000 4,000,000 1,000 (1) 1888 100 19,777,000 ...... 100 2,700,000 i876 1,000 10,000,000 1882 1,000 5,000,000 1889 1,386,000 --·· ...... -·-· ...435,000 1,000 1890 7 6 6 6 g. g. g. g. g. M.& S. New York a•d London. Sept. 1, 1920 M.&N. Dec. 1, 1908 do do J. & D. do Dec. 1, 1969 do M.&N. do do Nov. 1, 1922 Dec. 1, 1969 J. & D. do do J. & D. Paid 6 p.c. Jan. 15, 1891 June 1, 1977 5 Various N. Y., 21 Cortlandt St. 1900, '02, '05 5 do do $63,000 Jan. 1 J . & J. June 1, 1893 7 J. & D. do do A. & 0. do do Oct. 1, 1935 ~ g. do do Jan. 1, 1929 J. & J. May 1, 1922 6 M.&N. do do July 1, 1913 6 J. & J. do do ........... 5 A. & o. 1938 i ---· 312 6&7 5&6 4 5 6 g. M:-&iN. J. & J. F. & A. A. & 0. ..&..A . F. Boston:C>f.',244· Fed'l St. Boston, 8. Dep. & Tr. Co. Boston, Treas'r's Office. do do Nov."2,..i891 Jan. 1, 1905 Aug. 1, 1902 Apr. 1, 1939 Boston,Oid.CoionyTr. Co Aug.: ·•{)2 to '97 I /being leased till July 1, 1925, at a rental equal to that interest. See V. -51, p. 752, and description of property in V. 52, p. 642. In the reorganization of the Chicago & Atlantic (now Chicago & Erie), .there were issued $12,000,000 4-5 per cent 1st mortgage bonds, interest <0n which is guaranteed, Erie receivinO' for debts due and in -consideration of guarantee $2,000,000 o'f these lsts, $5,000,000 in•comes and all the $100,000 stock. See CHRONICLE, V. 50, p. 621, 752; V. 51, p. 911. Road was turned over to Erie on September 1, 1890. STOCK .AND BoNDs.-Preferred stock has a prior right to 6 per cent {non-cumulative) from the net pro:fl.ts, " as declared bl tbe board of -directors," but the U. 8. Supreme Court held in 1886 tha this stock has no le~al right to claim a dividend, though net earnings are sufficient. Dividends on preferred stock from 1882 to 1884, 6 per cent-none ..afterwards till Dec., 1891, when 3 per cent was declared. . Price of common stock-In 1884, 111s1.v283s; in 1885, 9141.v27 7 s; in 1886, 22121.v383s; in 1887, 24121.v355s; in 1888, 223s1.v3034; in. 1889, 253s1.v30 7 s; in 1890, 161.v2912; in 1891, 17121.v3412; in 1892, to Jan. 22 inclusive, 29 341.v34 34. Price of preferred stock-In 1880, 471.v9312; in 1881, 8012@9612; in 1882, 671.v88 14; in 1883, 721.v83; in 1884, 201.v71; in 1885, 18@57; in 1886, 50121.v8112; in 1887, 591.v76; in 1888, 52121i>6712; in 1889, 61@ '7134; in 1890, 461.v6912; in 1891, 47121i>7734; in 1892, to Jan, 22, inclu::sive, 703s1i>75 7e. The :first lien bonds of 1878 have an accumulative sinking fund of -$100,000 yearly and might be called for payment, but the company ◄• has decided that redemption shall be by purchase only." The :first consolidated funded coupon bonds are secured by lien of con• -<i!olidated mortgage. On the second consolidated mortgage (Farmers' Loan & Trust Company, trustee) no foreclosure can take place till six ,successive coupons are in default, but all of one coupon must be paid before any part of a subsequent coupon is paid. In 1883 the collateral trust bonds were issued (the United States Trust Company, trustee; see V. 38, p. 509), redeemable at 110 on three months' notice. The second ,consolidated funded coupon bonds of 1885 were issued to fund three 1>ast-due coupons and the coupon of June, 1886, the coupons being deposited a,s security. These bonds are redeemable at anytime at 105 and .accrued interest. The Long Dock mortgage for $7,500,000 was issued In 1885 ($3,000,000 being reserved to meet the old bonds), and the bonds are redeemable any time at 110, but from land sales only. The N. Y. L. E. & W. Coal & RR. Company's bonds were described in 'V. 52, p. 642. See also above under "Organization, Leases, etc." FINANCES, EARNINGS, ETC.-In December, 1891, a dividend of 3 per ,cent was declared on the preferred stock, the :first since 1884. Sept. 30, 1891, the statement of current liabilities in the balance sheet ,showed a total of $7,354,529, and current assets $4,262,842, with -$2,816,264 of contingent assets. From October 1 to Nov. 30 (2 months) in 1891 gross earnings were $5,558,170, against $5,227,163 in 1890 ; nett $1,908,955, peragainst $1,858,960; net, less proportion due roans operated on a ,<Jentage basis, $1,434,739, against $1,389,001. The annual report for the year ending Sept 30, 1891, was published In the CHRONICLE, V. 53, p. 792, 794, &c. The gross earnings include :.the New York Pennsylvama & Ohio and all the leased lines. 1888-89. 1889-90. 1890-91. $ $ $ 'Total gross earnings.~ .............. 27,004,406 29,068,935 30,090,699 Proportion paid leased lines ........ 2,409,133 2,614,101 2,587,066 New- York & New England.-Owns from Boston, Mass., to Hopewell Junction, N. Y., 215 miles, (and thence has trackage via the Newburg Dutchess & Connecticut to a connection with the New York Central & Hudson River Railroad at Fishkill, 13 miles) Providence, R . I., to Willimantic, Conn., 59 miles; branches, Newton, Mass., to Woonsocket, R. I., 28 miles; East Thompson, Conn., to SouthbridgE}, Mass., 17 miles; East Hartford to Spring:fl.eld, 28 miles; other smau branches, 13 miles; total owned, 360 miles. Leases-Rhode Island & Massachusetts, Franklin to Valley Falls, 14 miles; Vernon to Rockville, 4 miles; Franklin to Ashland, 20 miles; Norwich & Worcester RR. (which see), 66 miles; Providence & Spring:fl.eld (which see), 26 miles, and Woonsocket & Pascoag, 11 miles; total leased, 141 miles; also has N~r~c1:i a~r~~~e~~~~ssi::~;f1:~~s more. Total, 525 mi,les. Controls ORGANIZATION.-The former Boston Hartford & Erie Railroad be came insolvent and was succeeded by this company, formed in 1873. From January 1, 1884, to January 1, 1886, the road was in the hands of a receiver. In March, 1891, it was agreed to guarantee !jl1,500,000 bonds of the Rhode Island & Massachusetts Railroad, to be issued for double-tra.cktng and extending the line to Providence, to guarantee $1,000,000 Providence & Spring:fl.eld bonds and to lease the Woonsocket & Pascoag Railroad. See V. 50, p. 735, and V. 52, p. 350, 428. In March, 1891, leased for 99 years the Providence & Spring:fl.eld, which, with the Woonsc,cket & Pascoag Railroad, it began to operate April 1, 1891. See V. 51, p. 142; V. 52, p. 350. In September, 1891, a traffic arrangement was made with the Long Island Railroad, and in January, 1892, Mr. Austin Corbin was elected President of the New York & New England Company, Mr. Charles Parsons and others then going into the directory. STOCK AND BONDS.-The preferred stock is 7 per cent cumulative, but without interest. In June, 1891t $600,000 preferred stock was sold at par to pay floating debt incurreu, for construction. Dividends on preferred stock have been 7 per cent yearly since its issue in 1886. Price of common stock: In 1883, 1712'«>5214; in 1884, 81i>l 712; in 1885, 12121.v3934; in 1886, 30121i>685s; in 1887, 34341i>66; in 1888, 2912 @5314; in 1889, 411s1i>531s; in 1890, 281i>5214; in 1891, 311.v43; in 1892 to Jan. 22 Inclusive, 42341i>523s. Trustees of 1st mortgage are Boston Safe Deposit & Trust Company; of 2d mortgage W. T. Hart, E. C. Fitz and F. J. Kingsberry. Stock is re served for $223,000 convertible Boston Hartford & Erie Berdell bonds. Of the 2d mortgage bonds $998,000 bear 5 per cent to February, 1892 and 6 for balance of term. There are also $362,625 real estate mo~ gages and contract obligations. The New England EquiJ?ment Company's bonds are not guaranteed, but are secured by a :first hen on certain equipment costing $485,000 and by $460,000 notes of the N. Y. & New England RR. Co. The bonds mature as follows: From Aug. 1, 1892, to Aug. 1, 1894, $25,000 yearly; A.ug. 1, 1895 and 1896, $100,000 yearly; Aug. 1, 1897, $160,000. EARNINGS, &c.-The earnings for the first nine months of the company's :fl.scar years 1890 and 1891 were as follows : ,-Nine Mos. End. Sept.30. 1890. 1891 . $ $ Gross earnings .......................••.....•. 4,460,775 4,619,!l30 Net earnings ........ . .....................•••. 1,476,409 1,515,471 Other income................................ . . 3,531 5,017 Leaving as gross revenue .......... 24,595,273 26,4,54,834 27,503,633 'Total operating expenses ......... :17,854,425 19,505,951 20,243,936 Total net income . . ...... . ................... 1,479,940 1,520,488 , , Interest, rentals and taxes . .................. 1,296,381 1,383,232 :Net earnings ........................ 6,740,848 6,948,883 7 259 697 (97•1024 iP. c. oper. exp. to total gross earn's. 66·1167 67·2763 · Surplus ................................... . 183,559 137,256 COMPARATIVE STATEMENT OF PROFIT AND LOSS. Fiscal year changed to end ·Dec. 31. Annual report for year ending 1888-89. 1889-90. 1890-91 December 31, 1890, in CHRONICLE, v. 52, p, 389. In the following the :fl..gures for 1890 are for the calendar year, the Oredits$ $ $ Net earnings ................. . 6,740,848 6,948,883 7,25!:J,697 others for years ending September 30. .Pavonia ferries earnings .... . 343,758 360,557 385,094 INCOME ACCOUNT. Interest on securities ........ . 432,656 454,589 385,641 1886-87. 1887-88. 1888-89. 1890 . 300,090 274,870 .Other credit items ........... . 269,298 Miles operated............. 405 490 488 488 $ D;bi}:~credits ·············· 7,817,352 8,038,899 8,299,730 earnings ...... 4,151~917 5,26t408 5,561408 6,029,125 'Pavonia f erries-expenses.... 269,930 341,627 323,962 Net earning-s . .............. 1,398,175 1,747,816 1,844,575 2,007,857 .Interest on funded debt . ..... . 4,706,836 4,693,021 4,688,880 Other receipts............. 65,768 5,043 3,699 9,301 Weehawken docks-interest.. 55,245 55,245 18,415 _ _ _ _ _ _ _ _ _____ _ Interest on loans............. 40,484 164,750 114,592 , .Interest on mortgages, &c. .. 6,410 6,787 7,175 Total income.......... 1 , 463 , 9 ~ 3 1 ,7 5 2,859 1 ,8 48 , 2 7 4 2,017,1 5 8 Interest on equipment.... . ... 314,563 319,488 294,438 Disbursements$ $ $ $, 6 6 636 Rentals of leased lines........ 1,206,055 1,220,884 1,518,086 Rentals paid............... 353,744 383,272 410,793 ·Taxes... . ..... . ........... . .... 91,802 119,875 120,239 Interest, etc............ . ... 969,620 999,238 1,013,133 1,043,384 <:Jlaims of ;t>rior years......... 100,244 55,692 51,955 T::i,xes. . . . . . . . . . . . .. . . . .. . . .. 163,566 229,010 251,640 283,800 ,Other debit items....... . ..... 251,008 201,275 156,610 7 p. c. div. on pref. stock.. 135,975 139,416 170,341 189,000 Tj~1ei-~; Total debits ................. 7,042,576 7,178,644 7,294,352 Totaldisbursements ... 1,335,797 1,721,408 1,818,386 1,926,977 Balance, surplus............ 774,776 860,254 1,005,378 Balance, surplus....... 128,146 31.4.51 29,888 90,187 -(V. 51, p. 206, 207,569,734, '747,749,788,909; V. 52, p. 280,390, -(V . . 51, p. 142,206,458,608,681,910; V. 52, p. 40, 350,389,428 .,42, 681,762; 53, p. 187, 754, 778, '192, 794.) 761 796; 52, p. 863,940, 973; 53, p. 224.) v. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v. v. = ,~ ~ 00 t-3 ~ ~ ~ ' ""d [;; I MAP OF THE NEW YORK, ONTARIO & WESTERN RAILWAY & CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,...., < 0 r ~ ~ J.ANUARY, 1892] RAILROAD STOOKS AND BONDS. Subscribers -w-ill confor a great Cavor by giving hnlllediate notice oC any error discovered In these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Prine! Miles Date Size, or .A.mount pal,When Due. For explanation of column headings, &c., see notes of of Par Outstanding Rate per When Where payable, and by Sto~k!-Last on first page of table. Road. Bonds Value Cent. Payable Whom. D1v1dend. New York New Haven d!: Hartford-Stock ............ 1st mort!f/ffie (for $5,000,000) .................... r Harlem ortchester, leased, 1st mort. guar.c&r 2d mortfge, guar............................ c&r .New York d!: orthern:-lst mo!t~ge, gold ......... c 2d mortgage, gold (mcome till ec., 1891) ....... c New York Ontario d!: West.-lst M., g. (red. at 110).c €onsol. M. ($10,000,000) ~-,red.at 105 in '99 .. c* New York Penn. cf: Ohio-Pr10r lien, gold,$ & £ .. c* 1st mort.• gold, $ & £ ............................ c· 2d mortgage, incomes,$ & £ .................... c* 3d mortgage, incomes, $ & £ .................... c* Equip. trust bonds, sink. fund 3 p. c.(dr'n at 100) Equip. trust bonds, sink. fund 3 p. c. (dr'n at 100) Deferred int. warrants, conv. into 1st M. bonds .. New Castle & Shenango Valley, 1st M., int. guar. Sharon (leased) 1st mortg~e, gold ............... c 'N. Y. Phila. d!: Norfolk-1st ., g., $16,500 p. m .. c* Income M., non·cumulative, $10,000 per mile ... r N. Y. Pro'IJidence ct Boston-(Stonington)-Stock .... First mortgage, Providence to Stoninrcon ...... c* 1st mortgage (Stonington to New Lon on) ...... c* Mortgage for $4,000,000 .......................... N. Y.d!:.RockawayBeach-lst M.,g.,end'sed by L. I.c* Income bonds, non•cumulative ..... .............. r ---- 123 12 12 57 57 320 320 437 437 437 · 437 ---- ---· ---17- 15 112 112 141 50 12 62 7 ··-· ---- 1883 1873 1881 1887 1887 1884 1889 1880 1880 1880 1880 1888 1890 ---- 1887 1889 1883 1883 ---- 1869 1881 1891 1887 1887 $100 $01'~5,000 0,000 1,000&C ·2 1,000 2,000,000 1,000 1,000,000 1,000 1,200,000 1,000 3,200,000 1,000 4.,000,000 $or£ 5,600,000 500 &c. 8,000,000 500 &c. 44,325,000 500 &c. 14,500,000 500 &c. 30,000,000 £100 £225,300 £100 £242,500 .... 16,764,608 250,000 ---1,000 164,000 1,000 1,848,000 1,000,000 1,~gg 5,000,000 1,000 1,000,000 1,000 300,000 ---- Ne-w York Ne-w Haven & HartCord.-0wns from Woodlawn, N. Y., to Springfield, Mass., 123 miles; branches to New Britain, Middle· ttown and Suffield, etc., 18 miles; total owned, 141 miles; leases-Shore Line Railroad, 48 miles; Boston & New York Air Line and branch, 55 miles; New Haven & Northampton Railroad, New Haven, Conn., to ,Conway Junction, Mass., and branches, 137 miles; Naugatuck Railroad Naugatuck Junction to Winsted, Conn., and branch, 61 miles; Hartford & Connecticut Valley, Hartford to Fenwick, Conn., 46 miles; other lines, ·29 miles; total leased, 367 miles; total operated, 508 miles. The com· \l)any uses the New York & Harlem Railroad from Williamsbridge into New York City and pays rental therefor. Dividends of 10 per cent have been paid regularly since consolidation '1n 1872. Price of stock-In 1885, 175'@204; in 1886, 20412'@223; in 1887, 208 @233; in 1888, 215'@244; in 1889, 241 '@279; in 1890, 244~'@270; in 1891, 22412'@271; in 1892, to Jan. 22 inclusive, 224'@22714. . Stock authorized, $50,500,000. It may be issued for improvements, buying stocks and bonds of leased roads, &c. The stock was increasea -0n October 1, 1891, by the issue of 46,750 shares at par to the stockholders. The new stock is included above in the a.mount outstanding, 'but will not participate in any dividends payable prior to January 1, 1892. The proceeds were applied in part to the four-tracking of the New York Division. July 1 to Sept. 30, 1891, gross earnings, $3,230,264, against $3,031,463; net in 1890, $1,421,502, against $1,295,362; surplus over charges, $1,030,372, against $949,138. Fiscal year ends June 30. Report for 1890-91 was in V 53, p. 472. 1888·89. 1889-90. 1890-91. -Oross earnings ......... . .... $10,094,487 $10,749,167 $11,323,616 Total net income . . . . . . . . . . . $3,146,931 $3,518,776 $3,615,257 .Deduct- 4:nterest, rentals and taxes. $1,470,287 Dividends (10 per cent).... 1,550,000 $1,615,766 1,705,000 $1,713,161 1,870,000 Total. ................... $3,020,287 $3,320,766 $3,583,161 -Surplus..................... $126,644 $198,010 $37,097 ·(V. 50, p. 245, 736; V. 51, p. 304, 45 6, -4c94, 681 ; V. 52, p. 121, 280 '707; v. 53, p. 95,368, 472, 604.) Ne-w York & Northern.-0wns from 155th Street and 8th Ave. .nue, New York City (connecting with Metropolitan Elevated), to Brewsters, N. Y., 54 miles; double track branch from Van Cort<landt to Yonkers, 3 miles; operates 4 miles ; total, 61 miles. The New York City & Northern was sold in foreclosure August 17, 1887, and this company was organized with common stock of $3,000,000 and non• cumulative preferred 5 per cent stock of $6,000,000; par, $100. Trus• ttee of 1st mortgage is Central Trust Co.; of 2d mortgage, Farmers' Loan & Trust Co. EqUipment trust certificates July 1, 1891, $95,469. July 1 to Nov. 30, 1891, net earnings, $55,023, against $47,172 in "1890. For year ending June 30, 1891, gross earnings were $483,427; net, ~90,417; interest paid, $60,000; taxes, $20,250; construction account, etc., $15,426. The pamphlet report was for nine months only; see V. 53, p. 752. (V. 51, p. 458,681, 714; V. 52, p. 239,707; V. 53, p. 224; -:v-. 53, p. 7 52.) Ne-w- York Ontario & Western.-(See Map;)-Owns Oswego, N. Y., to Cornwall, N. Y., 272 miles; branches to New Berlin, 22 miles; ~o Delhi, 17 miles; to Ellenville, 8 miles; total owned, 320 miles; leases Randallsville to Utica, 32 miles, and Clinton to Rome, 12 miles; (in per• petuity) Ontario Carbondale & Scranton Railway, Hancock, N. Y., to Scranton, Pa., 54 miles; Wharton Valley Railroad to Edmeston, 7miles. By contract has right over West Shore Railroad from Cornwall to Weehawken, 53 miles, by payment of trackage; total operated, 477 miles. The New York & Osweiro Midland was sold in foreclosure November 4, 187~, and this company organized. As to agreement in 1891 with N. Y. Central, see V. 52, p. 609. STOCK AND BONDS.-Stock is $58,119,982 (par $100), of which $6,000 :is old preferred. Price of stock-In 1885, 634'@20 7s; in 1886, 15@223s; in 1887, 145s@ 2012; in 1888, 14@19; in 1889, 1412'@22 7s; in 1890, 13@2234; in 1891, 14'@233s; in 1892 to Jan. 22 inclusive, 18 7s'@22. In 1889 the consolidated mortgage (Mercantile Trust Company, <trustee,) for $10,000,000 was authorized-$4,400,000 to be reserved for prior bonds, the remainder for improvements and the extension to Scranton. The bonds cover the entire road and branches, and $1,500,-000 Ontario Carbondale & Scranton Railroad bonds and $1,495,000 stock deposited with the trustee of the mortgage. See circular in sfull in V. 48, p. iv advertisements and V. 48, p . 326; also abstract of the mortgage in V. 49, p. 238. Guarantees principal and interest $75,000 Wharton Valley Railroad first mortgage 5s (M. & N.) due 1918. EARNINGS, FINANCES, &c.-Since the end of the fiscal year 1890-91 ·$550,000 first mortgage 6s have been issued. They were listed on the N. Y. Stock Exchange in August, 1891, and the application to the Exchange stated.that this would" complete the entire amount authorized by the morto-age, $4,000,000, all of which have been issued." * * * ,4' T~e c.ompany has already completed the extensive co~struction in tWhich . 1t has .been engaged for the pa.st two years and 1s free from https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (1) 1,000 1,000 772,000 1,000,000 Q.-J. NewHaven,Co.'sOffice. J. & D. N. Y., Chem'al Nat. Bk. A. & 0. do do J. & D. do do A. & 0. N. Y., Office, 32 Nassau J. & D. 1st couJ;i due June '92. M. & S. N.Y.,O ce, 18Exch.Pl. J. & D. N. Y. Office & London. M.& 8. N. Y., Farm. L. & Tr. Co. London. J. & J. None paid. M.&N. M.&N. None lcaid. M.&N. Lon on. do 5 J. & D. .. & .. J. ..6.g. J. N. Y.,Farm:t:·&Tr.Oo . 412g. J. &D. do do 6 g. J. & J. Phila., Penn. RR. Office. do do 6 Q.-F. N. Y., Central Trust Co. 212 J. & J. do do 7 A.. & 0. do do 4 4 5 g. M. ·&:· s. N. Y., coi-iiiii:san.k'g 0o. .......... ..... 5 212 4 6&7 4 5 g. 4 g. 6 g. 5 g. 6 g. 7 g. 5 g. g. g Jan. 2, 1892 June 1, 1903 Oct., 1903 June 1, 1911 Oct. 1, 1927 Dec. 1, 1927 Sept. 1, 1914. June 1, 1939 Mch. 1, 1895 July 1, 1905 May 1, 1910 May, 1915 May 1, 1908 June 1, 1910 Juiy·1,··i917 June 1, 1919 Jan. 1, 1923 Oct. 1. 1933 Nov.10, 1891 Jan., 1899 A.or. 1, 1901 Sepi.° 1," .i927 Sept. 1, 1927 floating debt. Its railway and equipment are in excellent condition and its earnings constantly increasing." From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $1,426,021, against $1,220,330 in 1890; net, $402,858, against $326,675. . Fiscal year ends June 30. Report for 1890-91 was in V. 53, p. 473, The figures be_low include throughout the earnings of the leased lines .. 1888-89. 1889·90. 1890-91. Miles operated................ 371 371 -4c25 Gross earnings ................ $1,975,471 $2,200,446 $2,809,706 Operat'g expenses and taxes. 1,630,345 1,768,042 2,155,376 Balance, net earnings.... $345,126 INCOME .ACCOUNT. Total net income.............. $345,126 Disbursements- 5 Interest on mortga"'e bonds.· ( ~~1f1~ .~~~~~~~. ~~~ .~~~~~~ 5 2s2,-4c8o l $432,4@4 $654,330 $432,404 $7:29,33 203,000 4,213 78,748 -4,53,902 5,034 169,954 $285,961 Total...................... $282,480 $628,890 $U6,442 Balance, surplus.............. $62,646 $100,440 Thos. P. Fowler, President, New York. (V. 50, p. 105, 314, 707, 771,874,910; V. 51, p 21,538,569,572, 788; V. 52, p. 162,165,280,391,609,762; V. 53, p. 21,256,473, 881.) N e,v York Pennsylvania & Ohio.-0wns from Salamanca, N. Y., to Dayton, 0., 388 miles; branches-to Oil City, 34 miles, other branches. 15 miles ; total owned, 437 miles. Leased lines-Cleveland & Mahoning Vallev Railroad and branches, 124 miles; Sharon Railway (till April, 1981,) Sharon, Pa., to Sharon Junction and branches, 14 miles; New Castle & Shenango Valley. New Castle to West Middlesex, 17 miles ; other lines, 4 miles ; total operated, 596 miles. Formerly Atlantic & Great Western Railway. Sold July 1, 1871, and again January 6, 1880, reor~anized, and ag_ain leased to Erie. The lease to New York Lake Erie ~ Western maae April 30, 1883, was modified April 1, 1887, and again October 1, 1889. See V. 49, p. 793. The rental is 32 per cent of all gross earnings until these reach $6,000,000, and this proportion decreases by 1·10 of 1 per cent for each $100,000 of gross earnings above $6,000,000 until the gross earnings are $8,000,000. If earnings equal or exceed $9,000,000, the rental shall be 28 per cent. But if 32 per cent of the gross earnings should ever be less than a specified minimum sum of $1,757,055 to be paid yearly, then the deficit is tQ be made up without interest out of the excess in any subsequent year. Five trustees exercise the voting power of the new stock until the third mortgage bondholders receive 7 per cent interest in cash during three years. The :first mortgage bonds bear 7 per cent, whatever portion of this that may not be earned to be payable in deferred warrants, to be capitalized in bonds of the same class; payment of interest to become absolute not later than July 1, 1895, and until July 1, 1895 the right to foreclose the mortgage is suspended. On the second and third mortgages there is no right to sue the company or to foreclose. Stock is-prelerred, $10,000,000; common, $34,999,350; par, $50. For year ending September 30, 1891, rental received was $2,198,616; other income, $34,493; total income, $2,233,109; taxes, etc., $94,441; rentals and other charges, $856,824; interest on prior lien bonds1 $480,000; additions and betterments, $162,942; dividends on :firsli mortgage bonds, $302,828, July 1, 1891, and $387,807, payable Jan. 1, 1892; surplus for year, $638,901. See V. 51, p. 751. (V. 50, p. 632; v. 51, p.609, 7 51 ; v. 53, p. 604.) Ne-w York Philadelphia & NorColk.-Operates from Delmar' Del., to Cape Charles, Va., 95 miles, and King's Creek, Md., to Crisfield17 miles; total, 112 miles. Successor of the Peninsula Railroad Com pany of Virginia. Has traffic contract till January, 1895, with Penn sylvania Railroad, which company sets aside 10 per cent gross earnings to purchase 1st mortgage COUJ?Ons. See V. 47, p. 807. Capital stock, $1,714,375; par, $100. There 1s a six per cent bottomry mortgage for $225,000, due Jan. 1, 1892. In 1890 gross earnings were $803,197; net, $165,545. In 1889 gross earnings were $671,432; net, $146,013. (V; 50, p. 245; V. 51, p. 142.) New York Providence & Boston.-0wns from Providenc~1 R . r., to New London, Conn. (including the Thames River bridge), 62 mi.J.es; branches. 18 miles; lcases-'Pawtuxet branch ro-ad, 6 miles; Providence & Worcester RR. (which see), Providence to Worcester and branches, 50 miles; total operated 136 miles. Owns a majority interest in the Providence & stoninirton steamship Line, which has a capital of $1,500,000. Dividends since 1876-In 1877 and 1878, 10 per cent; from 1879 to 1885, inclusive, 8; in 1886, 812; from 1887 to Aug., 1891, both inclusive. at the rate of 10 per cent per annum. The Legislature of Rhode Island in June, 1891, authorized the company to issue $4,000,000 of 4 per cent bonds, $1,300,000 thereof to be held to secure the present bonded debt, $500,000 for new stock in the Providence & Stonington Steamship Co. (to be issued for two new steamers), about $500,000 to retire floating debt, the balance, $1,700,000, to be held in the treasury for future requirements. The New York Provide:J?-Ce & Boston & the Old Colony _RR. Terminal. Co. w3:s_ i:noor• porated m 1891 to construct a new station and termmal facilities at co N E °' We 2-~ lv-y, ill ( . hlsbor b '1 ~ Hunte~ Hange o oCanadeili;is Porters Lake .o Dingmans F ti ;; 00 ~ 0 t,;; ~ p 00 0 ·Tannersvllle CRAVEL PLACE~ Stroudsb ur JlfcJIIii n ae1s Delaware Water Gli' :Brool1cads".llle NEW YORK -.RUSQUEHANNA & WESTERN 11 RAILROAD AND CON NECTIONS, 1-d 1-d ~ ; ~ 0 ~ ~ t: ij \ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ 97 RAILROAD STOOKS AND BONDS. d.A.NU.A.BY:, 1892,] Subscribers will confer a great favor by giving Immediate notice of any error discovered In these Tables. RAILROADS . For explanation of column headings, &o., see notes on first page of tables. Western-Stock, pref.........•.•. 1l '\1 Susq:uehann<E ~ort., gold, Mid. of N. J ..................... c* N i8~ t mort., ., Paterson Exten. and real estate, g ...... c* refunding, gold (2d M on 73 miles) .. c* 2Ge mort. ($1,000,000 ~ld) 3d M. on 73 miles ... c* N. Y.neral mortgage for 3,000,000, gold .......... c* N,. . Texa., <E Mex.-lst. M.,g.,$ or.£,~. by So.Pac.c* orfolk <E Oarolina-lst mort. for$ ,500,000, g.c* 0 rfiof: cl Southern-1st M., $10,000 p. m., gold.c* ~ of ii Western-Common stock .................. N e • stock, 6 per cent, non-cumulative ........... orf'k&Petersb'g-2dM. (nowlst)Nor.toPet•~.o 8 o&h Side-Consol. mort. 1stferef., extended. . cl C nsol. M. 2d pref., gold, ex nded ............ o VJronsol. 3d pref., Petersburg to Lynch. & br's .. c ~ia & Tenn. enlarged M. (extend in.1884L.c 4 M. Lynchb'~o Bristol and branch, 214 m.c Norf.& West.Gen. ..Norfolk to Bristol. etc. g ... c* ~w River division 1st mortfcage, gold ....... c* prov. & Ext. Morts;a~e, go d ................ c* .A.djustmentM., ~- (re 'b e afterOct.'94 at llO)c* '(Jlfuch Valley Div. 1st M., gold, $19,000 p. m c* Equipment bonds,10-20s,dr'n at 100 aft.May,'98 Convertible debent'res, subject to call at 100.c.. Hundred-year mort:1;age, for $45 000,000, gold. Scioto Valley & New ngland, lstM., assum.,g.o* Norf. & West.-lstM. Marylaml & Wash Div.,g.c* J ,.su .. as-1:'rtnot INTEREST OR DIVIDENDS. Miles Date Size, or >al, When Due. Amount Par of of When Where Payable, anfl by Stocks-Last Rate fer Whom. Road. Bonds Value. Outstanding Oen. Payable Dividend. --- --- 0 73 isso 1 134 134 134 91 110 104 .... . 1881 1887 1887 1890 1882 1889 1891 .... ·si i868 133 133 133 214 214 428 155 583 583 105 ·-·· 97i 129 255 1868 1868 1868 1854 1866 1881 1882 1883 1884 1887 1888 1884 1889 1889 1891 $8,000,000 114 $500°&0. 3,500,000 6 g. A ...&..O. N. Y., Nat. Park Bank. 1,000 250,000 6 g. J. &D. N. Y.Of.,15 Cortlandt St. 1,000 3,750,000 5 g. J. & J. N. Y., Nat. Park Bank. 1,000 636,000 412g. F. & A. N.Y.Of.,15 Cortlandt St. 1,000 700,000 do do 5 g. F. & A. 500 1,457,500 4 g. A. & 0. N. Y.,S.Pac.Co.: London. 1,000 1,320,000 5 g. A.. & o. N. Y., Central Trust Co. 1,000 New York. 562,000 5 g. M.&N. 100 Phlla., 333 Walnut St. 9,500,000 100 40,000,000 112 A.. & o. 1,000 do do 496,000 J. & J. 8 1,000 do do 290,000 5&6 J. & J. 100 &c. clo do 270,500 5g.i6:g. J. & J. 100 &c. do do 452,800 J. & J. 1,000 do do 980,000 J. & J. 5 1,000 do do 1,000,000 J. & J. 8 1,000 7,283,000 6 g. M.&N. N.Y., Cent.Tr.Co.&Phil. 1,000 do do 2,000,000 6 g. A.. & 0. 1,000 do do 5,000,000 6 g. F. & A. 1,000 1,500,000 do do 7 g. Q.-M. 1,000 2,500,000 do do 5 g. M.& 8. de, do 1,000 4,284,000 5 g. J. & D. 500 do do 525,000 6 J.15&J15 1,000 7,105,000 5 g. J. & J. d• do 1,000 do do 5,000,000 4 g. M.&N. 500 &c. do do 7,050,000 5 g. J. & J. ,trovidence. Its capital stock is to be $500,000, and it has authority h is.sue $3,000,000 bonds, which this cor~oration and the Old Colony, SaVIDg equal control of the company, will either hold or guarantee. ee V. 53, p. 406. Report for 1890-91 was in V. 51, p. 875, showing the following: INCOME .ACCOUNT. Miles operated................ 18ffo89. 18f/fi°O· 18/30691. GNross earnings . . .. .. . ......... $2,836,424 $3,088,604 $3,091,321 ~ earnings, incl. invest. .. . $635,106 $572,122 $601,627 Oot. 25, Apr. 1, June 1, Jan. 1, Feb. 1, Aug. 1, Apr. 1, ~r. 1, ay 1, 1891 1910 1910 1937 1937 1940 1912 1939 19.U oci: 22; ·is91 July 1, 1893 July 1, 1900 July 1, 1900 Jan. '96-1909 June 30, 1900 Mch. 1, 1900 May 1, 1931 Apr. 1, 1932 Feb. 1, 1934. Dec. 1, 1924 June 1, 1957 June 1 1908 Jan. 15, 1894. Jan. 1, 1990 Nov. 1, 1989 Jan. 1, 1941 mortgage provides for betterments, extensions, &c. From June 1 to Nov. 1, 1891, five months gross earnings were $164,026. On Jan. 1, 1892, reorganization was 1,>ractically completed, and earnings from that date are applicable to mterest, &c. President, Watson B. Dickerman, 74 Broadway, N. Y.; Re~!strar of Securities, Atlantic Trust Go. -(V. 49, p . 719; V. 50, p. 771; V. 52, }). 463, 681.) Norfolk & Western.-(See Map.)-Owns from Norfolk, Va., to Bristol, 408 miles; branches-Petersburg to City Point, Va., 10 miles; Junction! to Saltville, Va., 10 miles; short branches, 5 miles; New River Division, Radford to Elkhorn, 84 miles; Cripple Creek Extension, 30 .v•Sbursementsmiles; other, 42 miles), 155 miles; Clinch Valley Division, Graham to tnterest balance. . ..... .. ..... $101,661 $32,186 $94,392 Norton, Va., and branches, 107 miles; Petersburg to Columbus, O. (forDividends.. ... .. . ... .. .. . . 375,000 450,000 500,000 merly the Scioto Valley & New Eng. RR.) 131 miles; Maryland & Washington Division, Hagerstown, Md., to Roanoke, Va., 238 miles, and B 1otal disbursements. •. . . . . $476,661 $482,186 $594,392 branches 17 miles; other lines, 18 miles. Total operated January 1, a ance, surplus.. .. ... . ....... $158,445 $89,936 $7,235 1891, 1,099 miles. Under construction- Ohio Exten sion, to Ironton -(V. 51, p. 345, 8 7 5; V. 52, p. 899; V. 53, p. 126, 406, 674.) on the Ohio River, 195 miles, and Washington branch, Front Royal to New York & Rockaway Beach.-Owns from Glendale Junction Washington, D. C., 75 miles; other lines , 68 miles. Total of all, 1,437 to Rockaway Park, 10~ miles; trackage to Long Island City, Brook- miles. 1n Jan., 1592, a lease of the Lynchburg & Durham road, 114 iyn, F3:r Rockaway, etc., 19 miles; total operated, 29~ miles. Stock miles was reported. .authorized, $1,000,000; outstanding, $937,200; par, $100. Controlled ORGANIZATION, ~TC.-The Atlantic Mississippi & Ohio Railroad Comby Long Island Railroad Company, whose endorsement is printed on pany was a consolidation of Norfolk & Petersburg, South Side and the ~ t mortgage bonds. (Formerly New York Woodhaven & Rockawar,) Virginia & Tennessee roads; it was foreclosed February 10, 1881, and year ending June 30, 1891, gross earnings were $233,086; net m- was reorganized as the-Norfolk & Western. ~o m e, $49 ,80l; surplus over interest, etc., $8,463, against $1,788 in In June, 1890, purchased the Scioto Valley & New England Railroad 9 99-90. (V. 53, p. 568.) (formerly Scioto Valley). When the Ohio Extension is completed this New- York Susquehanna & Western.-(See Map.J-Jeraey City road will afford a through line to Columbus, O. The Shenandoah Valley to Gravel flace, Penn., 101 miles; Two Bridges, N. J., to Unionville, RR. was purchased at foreclosure sale SeJ?tember 30, 1890. and now N .. Y., 21 miles; other branches, 12 miles; leases-Unionville, N. Y., to constitutes the Maryland & Washington Division. The connection with Middletown, N. Y., 14 miles; Pennsylvania Railroad trackage in Jersey the Louisville & Nashville was completed in June 1891. City, 3 miles; small branches, 6 miles; total, 157 miles. STOCK AND BoNDs.-Preferred stock is entitled to 6 per cent nonThe New Jersey Midland was sold in foreclosure February 21, 1880, cumulative. In May and June, 1890, $5,000,000 new preferred was is.and the Midlall.d of New Jersey was organized. The New York Busque• sued. (See V. 50, p. 735, 834.) In Dec., 1890, $2,250,000 common and hanna & Western was a consolidation in June, 1881, of the Midland of $4,500,000 preferred were issued for Shenandoah Valley securities. New Jersey and other railroads. The general mortgage 5s of 1890, for See V. 51, p. 876. '$3,000,000, were authorized for new equipment, double-tracking, etc., In June, 1891, stockholders subscribed to $2,500,000 new preferred. :$1,000,000 being reserved to retire the same amount of second mort- stock at $52 50 per share; in July, 20,000 shares more were sold to a gage bonas of 1887. t!ee mortgage abstract, V. 52, p. 84. Stock, com- syndicate; and m September, 1891, a block of 40,000 shares was dismon, ts $13,000,000; preferred (cumulative 6 per cent), $8,000,000; par, posed of to a London syndicate. It is said the proceeds of 30,000 shares '$100. First dividend (114 per cent) paid on preferred in October, 1891. will be exfended on the construction of the Ohio extension, and the 'The New Jersey Midland junior securities were exchanireable into balance o the receipts will be used in retiring the floating debt, which stock of this company on certain terms, and the exchanges up to May amounts to about $2,500,000, and in betterments and improvements. 1, 1891, left $224,000 of the old stock, $843,000 income bonds and It was also reported in September, 1891, that satisfa ctory progress had $292,000 scri:p not yet exchanfed. There are also $6,000 old firsts of been made toward inducing the large foreign holders of this stock to 1911 and $93,500 debentures o 1897 outstandimr. . agree to an exchange of the common stock for preferred at the rate of From January 1, to Nov. 30, 1891 (11 months), gross earnings were three to one. If this plan is carried out it will leave the company with '$1,521,493, against$1,462,035 in 1890; net,$685,565,against$638,456. only one class of stock. See V. 52, p. 718, 832; V. 53, p. 126,326, 370. Report for 1890 was in V. 52, p. 349. Dividends on preferred stock-In 1882, 4 per cent: in 1884, 312 m INCO?tlE ACCOUNT. scrip; in 1888, 112; in 1889, 3; in 1890, 3; in 1891/ April, 112; Oct., llg. 1887. 1888. 1889. 1890. Price of common stock-In 1883, 10-«>18; in 1884, 10'@1212; in 1885, $ $ $ $ · 8Wl37a; in 1886, 8W27~; in 1887, 13@233a; in 1888, 1518'@2314; in Gross earnings ...•.••.••• 1,395,186 1,445,900 1,402,466 1,592,083 1889, 1414@2218; in 1890, 13@247a; in 1891, 13@18~; in 1892, to :N t · 597 592 595 910 551 438 670 946 Jan. 22 inclusive, 16W18. eth earnings.····· ••• · • • · 2 7 •159 Price of preferred stock-In 1883, 32@49~; in 1884, 17@42; in 1885, 25•' 828 33•' 527 3 o,' 4 oi 14@3412; O er income .....• ·····•· ' in 1886, 25@593a; in 1887, 3412@55 7a; in 1888, 4112W58:SS; i1 Total 624,751 621,738 584.,965 701,347 1889, 4712W61~; in 1890, 48W663a; in 1891, 4612W57-½l; in 1892, to 2 441120 441120 441,120 . 44 J3f';;1~{~ of1~~~ev!ii!;@~~rtgage (Fidelity Insurance Trust & Safe 5 9 Deposit Company of Philadelphia, trustee) iR V. 45, p . 541; the issue, res on on s........ • • 26 •494 26 •497 26 •491 2 6 • -6 exclusive of lj!500,000 for equipment, is at $19,000 per mile. 'Rentals.·· ··· · · · · · · · · · · · · · 2 , 541 2 , 699 12, 955 25 ,776 Xl.scellaneous............. The equipment mortgage of 1888 (trustee Girard Life Insurance Co. Total disbursements. 470,155 470,318 480,567 4 97, 681 of Philadelphia) is for $5,000,000, and covers all equipment and. rolling :B 1 1 154 596 151 420 104 398 stock all car trust obligations purchased with the proceeds of 203 , 666 bonds and a ance, Burp l}S. • • • • • • • • • • • issued. There are also lj!597,110 car trust certificates outstanding, (V. 50, p. 312, 350; V. 51, p. 276, 570; V. 52, p. 84, 349,) due at various dates. New- ~ ork .l'exas & Mexlcan.-Owns from Rosenberg to VicThe 100-year mortgage of 1889 (trustee Mercantile Trust Co.) provides toria, 91 miles. Stock, $630,040, and Southern Pacific Company owns for the issue of $20,000,000 bonds, plus additional amounts not exceedall but $22,040 of it. There are also $60,500 sixes outstanding. Is ing $25,000,000 to redeem by purchase or exchange (provided no in•perated by the Southern Paoiflo Co., which guarantees the 4 p. c. bends. crease in interest charges be thereby created) prior bonds on the 699 From January 1 to Nov. 30 m 1891 (11 months) gross earnings were miles built and under construction, which prior bonds must not be in8 0 9 2 8 f~~l38~9in i•o~;, 2ii?62t~ n!f t1:2,541g~t'defl~Yi8~ £er cti~i~~~ i?irg,op~n2~l !eta~s~b~~rt~~ ;.f 1thJ~ mortgage 1 $73,971, a gainst $61,684 in 1889. Floating debt (due So. Pac. Co., The Scioto Valley & New England. mortgage (trustee Central Trust etc.) Jan. 1, 1891, $401,662. Company) has been limited to $5,000,000, each bond being stamped Norfolk &; Carollna.-Owns from Nerfolk, Va., to Tarboro, N. c., with a statement signed by the Secsary of the Norfolk & Western, 101 miles; branches, 9 miles; trackage to Rocky Mount, 17 miles . certifying tha t this compa ny "has assfllhi.ed a nd coven a n ted to pay the Successor to the Chowa n & Southern; name chan ged in 1889. Opene d prinmpal a nd interest of this bond." See application to New York Stock April 1 , 18 90, and forms a part of the Atlantic Coast Line sy st em. Exchange, V. 50, p. 4 5 2. The Maryland & Washington Division mortgage for $10,000,000 -Stock, $1, 500,000; par, $100. From Sep t . 1, 18 90 to June 30, 18 91 (10 months), gross earnin"'S on 101 miles w ere $251,209; opera t- was issu ed on the Shenandoah V alley Railroa d (see V. 51, p. 876), ing ex p en ses and tax es, $'202,974; n et, $48,234; interest on bonds, $2,500,000 bonds b eing reserved to extend the line to Washingt on, $32,947. President, Warren G. Elliot , Wilmington, N. C. D. C., and $1,000,000 for ot h er purposes. • NorColk & Southern.-Owns B erkely, Va ., to Edenton, N. c., 74 EARNINGS, ETc.-The strength of this company has been in its loca.l miles ; (ferry a cross Albem a rle Sound to Mackey's F erry, 9 miles ;) business. ihence roa d to B elle Haven, 30 miles ; total roa d owned, 104 miles ; From J anuary 1 to Nov . 30 in 1891 (11 month s) gross earnings ferry, 9 miles. The Norfolk Southern w as sold in foreclosure April 29, w er e $ 8 ,396,289, against $7,881,8 37 in 1890; n et , $ 2,906,513, against 1891, and r eorganized as now afte r consolidation with the Albemarle $2,700,77S. The annua l report for 1 890 was publish ed in the CHRONICLE, V. 52, & Pantego RR. Co. Receiver discharged June 1, 1891. Capital stock -is $2 000 000 {par $100 ) which wali divided among the assenting held p. 640, 644. (See also article p. 621.) In the report the] Presiden1i ..er s of the eld'securities in accordance with the plan. The new Femarks a s follows. In~bu[s~,;_tsf ········ tti18 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis •1'~ ~::1:,R~ 'b~i~~ ~~i:. f first https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis = 00 ~ ~ l;::, ~ ncn J~ / 1 ,:' Jr.; r /~ l,._O '"' lo 1 1tJ I 'E ,'/ ., ~ 1/tflo,'· I ic; ,~ 1_()l 18 . ,,,.p , <$ 1;: ,'oo 1,J i ,. ' ,I I ,/ ~- ~ y ~ ~ ~ o~ 'II" /'1 00 ~ 0 ~ 02 00 '\> t' I l~ } "' l ~ ~ ,' '//w -~lr·t,y /.,,,. ,,~ f/; , ~ ,,._"{' ,f /t 1.$' ,,o I ,._ ~ q ~ ~ ~ ~ ~ MAP OF THE NO mF 0 L K 1 AND WBST1ma:N RAILROAD ... ~~~-'9~-..~ •-0!.."g"<t ~.r,, eo N erry · .. .meo ' <'( 0 R Yadldnv.weo AND CONNECTIONS. 1 t..t ~ ~ JANUARY, 1892.j RAILROAD STOCKS AND 99 BONDE1. Subscribers "Will confer a great favor by giving ilnrnedtate notice of any error discovered in these Table • RAILROADS. --------------------1 For explanation of column headings, &c., see notes on first page of tables. No1·th Carolina-Stock, 6 p. c. till 1901, Rich. & D. North Pacific Uoast- lst and 2d M. (1st M. sink. fd.) . Miles Date Size, or of of Par R_o_ad_: _B_o_n_d~ Value. 223 76 5 88 56 1st mort. North Pacific Coast Extension Co.,-.i,old. No. Penn.-Stock, 8 p. c. guar.990 yrs.,Phil. & ead. 2d mortgage ........................................... Gener al mor1age bonds ............................. .... 13onds secure by $1,200,000 stock .............. r ·-·· No. cl: So. of Rl.-lstM.for$600,000 ($10,000p.m.) .. ....... Northeastern ( S. O.J-Stock ........................... ---1st mortgage, provided for by consol. mortgage. c 102 2d mortgage, provided for by consol. mortgage.c 102 Consol. moriage, gold (for $1,836,000) ......... c Northern, (N. .)-Stock, 5 p.c.rental till July,1897 83 54 Northern Oalfrornia-lst mortgage ................. Northern Oen ral-Stock . ............................. ---1st mortgage, State of Maryland loan ............ 138 2d mortgage ....................................... c* 138 Consolidated mortgage, gold...................... c 138 Consol. mortgage, gold ............................ r 138 Consol. gen. M., g.,s.f.,drawnat 100, $or£A&B.c 138 do do gold,$, C & D .............. c 138 do do .1old, E .................... c 138 2d gen. mort., series" " (s. f. $30,00o yearly) .c* 138 2d ~en. mortgage, series B. ... .. •..•.• . ......... c 138 Umon RR.,lst<ass'd)$117,000 end. byBalt.City.c* 9 2d mortgage (assumed) $ or £ ................... c 9 21 North. of New Jerse11-3d M.,now lst(for$700,000).c Northern Pacijw-Common stock ................... ..... ·Preferred stock (8 per cent, not cumulative) ...... ---1st M. and ld. gr. Missouri Div., dr'n at par.c*&r 205 1st M. and Id. gr. P. d'Or. Div., drawnatpar.c*&r 225 Gen.lstM. ld. gr., g., $25,000p. m.,dr. atllOc*&J 2,146 ---- ---- 1881 1883 $100 ---· -·--50 .--·· .... 500 &c. 1881 1890 ---1,000 ---- . ...... . .... ..... 50 500 500 1,000 100 1889 ·· -- 1869 1869 1883 ..... 50 ....... 1865 500.&c . 1,000 1868 1868 1,000 1874·5 1,000 1876-7 1,000 1,000 1885 1,000 1876 1,000 1876 '67·'70 500 &c. 1,000 1873 1887 lOO&c. 100 . ... 100 ..... 1879 100 &c. 1879 100 &c. 1881 1,000&c "Your company has now in operation about 1,100 miles of railroad, and upon the completion of your Ohio and North Carolina extensions will have in operation over 1,300 miles; and if ample financial provis• ion be made so that your Company may: continue to encourage the de· velopment of the territory tributary to its lines by furnishing necessary transportation facilities and rolling stock, not only will the earnings per mile be maintained, but, making due allowance of time for the de· velopment of newly-opened territory, they will steadily increase. At no time in the history of your Company have the prospects of increased traffic and revenue been so apparent." Earnings, &c., have been as follows: 1890. 1889. 1888. 1887. 591 826 542 Average miles operated. 527 $ $ $ $ Total gross earnings ..... 4,254,794 4,899,599 5,597,125 7,561,915 Oper. expen. (incl. taxes). 2,483,780 3,001,927 3,483,352 4,838,610 Net earnings .............. 1,771,014 1,897,672 2,113,773 2,723,305 64·00 62·00 61·00 P. c. of op. ex. to earn'gs. 58·38 INOOME ACCOUNT. 1887. 1888. 1889. 1890. Receipli$ $ $ $ lTet, incl' g other income 1,880,511 2,045,110 2,257,921 2,957,225 DisbursementsInterest on bonds, &c . . 1,237,134 1,296,551 1,451,265 1,814,008 ........ (112)330,000(3%)660,000 (3) 735,000 Dividend on pref. stock. 7,849 . . ..... . 41,609 88,607 Miscellaneous .......... . IB 0nds-Prmc INTEREST OR DIVIDENDS. - - - - - - - - - - - - - - - - - pal,WhenDue. 0 ~~~g Rate per When Where Payable, and by Sto~k_s-Last Cent. $4,000,000 1,090,000 150,000 4,742,950 1,500,000 4,500,000 1,200,000 0) 900,000 820,000 322,000 694,000 2,997,300 945,000 7,518,150 1,500,000 1,126,000 2,599,000 205,000 2,033,000 2,000,000 1,320,000 2,676,000 1,000,000 900,000 600,000 563,000 49,000,000 36,633,821 1,965,000 1,348,000 44,,1,82,000 3 6 g. 5 g. 2 7 7 6 5 g. 3 8 8 6 g. ~12g. 4 6 6 6 g. 6 g. 6 g. 6 g. 412g. 5 5 6 6 g. 6 Payable Whom. M.& s. Burlington, N. C. M.&N. San Francisco. " do J. & J. do Q.-F. Phila. Of., 240 So. 3d St. M.&N. do do J. & J. do do M.& s. do do Dividend._ Sept. 1, 1891 N 'b~e;ciu~~Ol. Feb.25, 189 z: May 1, 1896 Jan. 1, 1903 Sept. 1. 1905 1940 ----J. & J. Chariestoii; Office . Jan. 1, 189Z: M.& s. do do Sept. 1, 1899' M.& s. do do Sept. 1, 1899 J. & J. N. Y., John Paton & Co. J an. 1, 1933 Q.-J. Bost.,Conc'd or Leban'n Jan. 1, 1892 J. & D. N. Y., So. Pac., 23 Broad June 1, 1929 J. & J. Bait. &Phil. ,233 S.4th8t. J an. 15,1892 Q.-J. Annapolis. Irredeemable. A. & 0. Baltimore & Philadelp'a Apr. 1, 1900 J. & J. Baltimore, Treas. Office. . July 1, 1900 A. & 0. do do July 1, 1900 J. & J. London and Baltimore. July 1, 1904 J. & J. Baltimore, Treas. Office. July 1, 1904 A. & O. do do Apr. 1, 1925 J. & J. do do Jan. 1, 1926 J. & J. do do Jan. 1, 1926 J. & J. do do Jan. 1, 1895 M.&N. N. Y., London & Balt. May 1, 1900 J. & J. Jer. City, Hud'n Co. Bk. July 1, 1917 . ............. (f.:. :j, N. Y., Mills Building. 1 M.& N. 6 do do M.& 8. do do 6 6 g. J .. & J. do do J an: ·i5·;i892 May 1, 1919 Sept. 1, 1~19 Jan. 1, 1 21 Northern Callfornia.-Owns from Knight's Landing to Oroville Cal., 54 miles; complet~d in December, 1890. Leased to Southern Pa. cifl.c Company, which owns $1,277,500 of 't;he $1,280,000 stock. Northern Central.-Owns from Baltimore, Md., to Sunbury, Pa., 137 miles; branch-Hollins to Green Spring Junction ,9 miles; leases~ Shamokin Valley & Pottsville Railroad, 30 miles; Elmira & Williams• port Railroad, 76miles; operates at cost-Elmira & Lakes Ontario Rall road, 100 miles; Summit Branch Railroad, 20 mile ; Pennsylvania Railroad, 3 miles; total operated, 382 miles. In addition uses New York Lake Erie & Western tracks, 7 miles, and Philadelphia & Erie tracks between Sunbury and Lewisport, 40 miles, and owns Union Rail• road, 9 miles, and $622,850 stock of the Baltimore & Potomac RR. Co. The Pennsylvania Railroad owns $3,488,950 of stock. Dividends since 1880 have been-In 1881, 512; in 1882, 6; from 1888 to 1886 inclusive, 8; in 1887, 8 and 10 stock; in 1888, 7; in 1889, 8; in 1890, 8 p. c.; in 1891, 7 p. c.; in 1892, Jan., 4 p. c. From Jan.1 t;oNov. 30 in 1891 (llmonths) gross earnings were $6, 206,971, against $6,125,337 in 1890; net, $1,894,442, against $1,725, 594. Fiscal year ends Dec. 31; report for 1890 was in V. 52, p. 462. INCOME ACCOUNT. 1887. 1888. 1889. 1890. Receipts$ $ $ $ Gross earnings ....... . 6,212,926 6,203,394 6,069,956 6,608,797 Net earnings ......... . 2,073,484 2,109,821 1,944,356 1,687,038 277,348 251,125 307,628 522,951 Other receipts ........ . Total income.. ...... 2,324,609 2,417,449 2,447,728 2,209,989 $ $ $ 2,152,874 2,637,615 .Disbu7·semenis$, 470,706 464,870 475,572 460 819 105,047 319,610 Rentals, &c. • • • • • • • • • • • 926,505 931,481 924,039 Interest on debt....... 902,910 -(V. 51, p. 143,172,829,876; V. 52, p. 278, 280. 351,621. 640. Dividends .............. (8) 545,946 (8) 571,966 (8) 571,975 (7) 526,260 79,495 293,828 226,654 718, 832, 899, 902; V. 53, p. 126, 326, 370, 604,922. V. 54, p. 159.) Miscellaneous......... 48,196 Total disbursem'ts. 1,244,983 Balance, surplus........ · 635,528 1,626,551 418,559 Tot'l disbursements. 1,957,872 2,048,672 2,262,15 5 2,152,526 North Oaroltna.-Owns from Goldsboro to Charlotte, N. C., 223 Balance, surplus.... 366,737 368,776 185,573 57,462 mile!!. Leased September 11, 1871, to the Richmond & Danville for 30 years at $260,000 per year. Dividends of 6 per cent are paid on the -(V. 50, p. 311, 519; V. 52, p. 462.) stock, of . hich the State of North Carolina holds $3,000,000, and the dividends ti.!Uij received by the State are applied to her bonds issued to Northern ofNe"W .Tersey.-Owns from Bergen, N. J., to Sparkill, the North Cawuna Railroad. N. J., 21 miles; leases Sparkill to Nyack, 5 miles; total operated, 26 miles. By cou : -,ct of April, 1869, it is operated by New York Lake Erie & Western at 35 per cent of its gross earnings and five fifty-sixths North Hudson Oounty.-SEB "MISCELLANEOUS COMPANIES." of the balance. It is understood the contract is terminable by either party on notice. The stock is $1,000,000; par, $100. In 1890-91 North Pacific Coast (Narro"W Gauge).-Owns San Francisco to receipts from lessee were $123,847; net over expenses, $82,672; interDuLcans, Cal., 7914 miles; branch to San Rafael, 2 miles; leases to San est and rentals, $45,165; dividends (4 per cent), $40,000; balance Quenhn, Cazaden, etc., 13 miles; total operated, 94 rmles. Stock, deficit, $2,493. (V. 53, p. 603.) $2,500,000 ; par, $100. In 1890 gross, $393,822 ; net, $70,308, against $87,089 in 1889; interest, etc., $70,585; deficit, $277. Northern Pacific.-(See Map.)-LI!rE OF ROAD-Main line-Ash• land, Wis., to Portland and Wallula Junction, Ore., 2,137 miles; Duluth :Vorth Pennsylvania.-Owns from Philadelphia, Pa., to Beth• to Northern Pacific Junction (12 interest), 24 miles; Northern Pacific & lehem, Pa., 56 miles; branches to Delaware River, &c., 30 miles. The Manitoba (connecting with Canadian Pacific at Winnipeg and Brandon), Northeast Pennsylvania and the Stony Creek roads are operated under 264 miles ; various other lines and branches, 875 miles. Total owned, eontract. Leased for 990 years to Philadelphia & Reading at 8 per cent 3,301 miles. Leases-St. Paul & Northern Pacific, Brainerd to St. Paul, on stock. and branches, 176 miles; trackage-St. Paul Minneapolis & Manitoba, St. Paul to Minneapolis, 12 miles; Minneapolis Union terminals, 3 North & South of Illinots.-Owns from Springfield to Litch• miles; Seattle & Northern RR., 24 miles; other lines, 3 miles; total, 42 field, Ill.-, 43 miles, and from Litchfield to Mount Olive, 7 miles. miles. The Northern Pacific also operates the following roads and The St. Louis & Chicago defaulted on J anuary, 1889, coupon, guarantees a certain rental, sufficient to pay interest and sinking funds: From To Miles. and foreclosure sale of main line was made October 4, 1889, and of the branch February 5, 1890. Litigation is pending and the receiver James River Valley ........... Jamestown, Dak ... Oakes, Dak ....... 64 Duluth & Manitoba ............ Winnipeg Jc., Minn. Grand Forks, Dak.109 has not yet been discharged. In September, 1890, road was leased to " " " Dak. Div .. Grand Forks, Dak .. Int'lB'ndary,Dak. 97 the Chicago Peoria & St. Louis at $40,000 per annum, lease to last dur• ing the receivership. See V. 51, p. 830. Stock-Common, $1,500,000; Spokane & Palouse .. .......... Marshall Jc., Wash.Genesee, Idaho ... 111 preferred, $1,300,000, entitled to 5 per cent non-cumulative dividends Helena & Red Mountain ...... Helena, Mont . ...... Rimini, Mont ..... 17 if earned. Gerald L. Hoyt, President. (V. 50, p. 72, 207, 245, 314, Northern Pac. & Montana..... Numerous lines ........................ 318 Central Washington . .......... Cheney, Wash ...... Grand Coulee ..... 109 377; v. 51, p. 425, 494, 830; v. 52, p. 239.) Grand total June 30, 1891, 4,349 miles .. An important operating contract with Wisconsin Central was made in Northeastern (S. C.)-Owns from Charleston, S. C., to Florence, May, 1889, giving Northern Pacific a route to Milwaukee and Chicago, 8. C., 102 miles; leases jointly, Lane, S. C., to Sumter, S. C., 38 miles; with terminals. This contract was subsequently altered to a lease to total operated, 14.0 miles. Of consolidated mortgage $1,142,000 was run 99 years from April 1, 1890. The Wisconsin Central Company lleld to retire debts of prior lien. Stock, $900,000; par, $50. In year (which see) bas a total mileage of 867 miles. ending June 30, 1891, gross earnings were $734,642; net, $274,048; In July, 1890, leased the Seattle Lake Shore & Eastern, under con• i: et including other income, $335,171; interest paid, $133,000; divid· struction to a connection with the Canadian Pacific at the Canadian ends (6 per cent), $54,000. (V. 53, p. 921.) boundary. The road has mileage about completed, including branches, of 237 miles. See that company. Northern (Ne"W Harnpshire).-Owns from Concord, N. H., to Extensions from Missoula to Mullan and Wallace were completed m West Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol, August, 1891. N. H., 13 miles; total, 83 miles. A lease to Boston & Lowell for 99 years from January 1, 1890, was ratified in December, 1889, and then ORGANIZATION.-This company was chartered by act of Congress July assigned to Boston & Maine, rental being 5 per cent on stock till July 1, 2, 1864. The road opened, 450 miles, to Bismarck, was foreclosed Aug. 1897, and 6 ~er cent thereafter, payable in gold. In addition to the 5 12, 1875, and reorganized September 29, 1875. In 1889 a traffic con· per cent dividends provided for by the lease, an extra 1 per cent per tract with the Wisconsin Central, afterwards altered to a lease, gave this annum has been paid regularly from the contingent fund, which on company a line of its own into Chicago. The Chicago & Northern May 1, 1891, amounted to $369,053. (See V. 53, p. 95. Pacific, with its large terminals at Chicago, is subleased from the Wis· Dividends since 1885-From 1886 to 1889, inclusive, 6 yearly; in consin Central and interest on its bonds guaranteed. (See that com1890, 6, and 25 extra from surplus; in 1891, Jan., April and July pany.) The Baltimore & Ohio Railroad made a contract to use tereach 112. (V. 49, p. 269, 825 · V. 53, p. 95.) minals from December .1 1891, paying an annual rental therefor. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis rvoL. INVESTORS' SUPPLEMENT. 100 LIV. Snbscrlber8 will confer a great favol" by giving Immediate notice of any error discovered In these Tables. Bonds-PrinoiINTEREST OR DIVIDENDS. RAILROADS. p al,When Due. Miles Date Size, or Amount For explanation of column headings, &c., see notes of of Par Rate f.er When Where P¾iable, and by Stocks-Last Dividend. on first page of tables. Road. Bonds Value. Outstanding Oen . Payable horn. --- Jiorthern Paeiflc-(Oonchtded.)- G,en. 2d mort. , g., land ~ant, s. f.,dr'n at 110.c*&r 2,1-16 Gen. 3d mortgage sinking fund, not dr'n, g .. c*&r 2,146 Consol mortg~e for $160,000,000, ~old ..... o*&r 3,163 Dividend cert· oates, ext'd in '88, re . after 1892 .... :ra:t 1883 1887 1890 1888 ru::; goi<i; giiar:; s." f :::,i .64 iss6 39 1886 ei!l;!~v!fifR: ·ist· Coeur d'Alene 1st mortgage, gold ......... . .... c" Gen. M& $25,000 p. m., g., guar., sink. fund .. c* fftokane Palouse 1st M., gol~ guar., s. f .. ... c* , ~uth & Manitoba 1st M., gol , guar., s. f ..... c* 1 Dakota extension 1st mortgage, gold, guarf s.f. Helena. & Red Mountain 1st M., g., guard:rs. . .c* No. Pac. & Montana 1st M., g.,gu.s.f.not 'n.c*&r Cent. Wash. RR. 1st mort.,j·• guar., sink. fd.c*&r Beattle Lake 8. & East.1st ., g., guar ..... .. .. o* J,orthernPac. Ter. Oo.-lstM.,g.,dr'naft.'92 at llOc~ orthern Railway (Qal.)-lst M., int. guar., gold .. Con.sol. M. for$21,000,000,fc.,lstM.on197m.c*&r Norwich cl Worcester-Pref. s ockb 8 c. rental. ... 1st M., principal and int. guar. Y. & N. E.o* ~nsburg&LakeOhamp.-Conso. M.(now 1st M.) come bonds, not cumulative .................. . . Guarantel •d debenture bonds . ........ ... .... .. . . . r Ogdensb TransitCo.lst M.(Cent.Vt.& 0 dens.,1,ru.) Sarat~a & St. Law. 1st M for $200,0 0, ~1ar . . r Oh,io cl issis~tpi-Stook ($4,030,000 is pre . ... . . , 1st consolid,a ed mort. ($3,445,000 are sink.fd.)c+ f. I·. 8 49 110 110 96 17 225 88 218 i49 386 66 66 118 1888 1886 1886 1887 1887 1888 1888 1886 1883 1877 1888 1877 1880 .... 1880 .... 1888 ·10 isso 628 393 i868 $ .... .... STOCKS AND BONDS.-The preferred stock has a preference for 8 per oont in each year if earned, but is not cumulative. The common stock then takes 8 p er cent, and after that both share alike. The preferred stock's claim on n et income is subject to expenditures for new equipment. Preferred stock is r eceived in payment for company's lands east of Missouri River at par, and the proceeds of the land sold go to its retirement. The preferred stock has thus been reduced from $51,000,000 to the present figure. The back surplus due the preferred stock by wa:v of dividends (i. e., for dividends earned but not distributed, unearned dividends not b eing cumulative) amounted on June 30, 1890, to $2,844,429, inv ested in consolidated bonds of the par value of $3,347,000. See V. 54, p. 159. • Dividends on preferred stock- In 1883, 111 10 ; from 1884 to 1889 in,clusive, nil ; in 1890, 4 per cent; in 1891, January, 1; April, 1; July, 1; October, 1. Price of common stock-In 1880, 2011>36; in 1881, 323411>51; in 1882, ~83411>543s; in 1883, 231811>5318; in 1884, 1411>27; in 1885, 15W31¼: in 1886, 22W313s; in 1887, 2011> 3458; in 1888, 197sW2934; in 1889, ~511>363s; in 1 890, 163411>3912; in 1891, 2018W30 7s; in 1'892, to Jan. 22, inclusive, 2312W2612. Price of preferred stock-In 1880, 393s11> 6712; in 1881, 641811>8818; in 1882, 66341z> l003s; in 1883, 4934W905s; in 1884, 37 1411>5758; in 1885, 3612W653s; in 1886, 5312W6612; in 1887, 413s11>6312; in 1888, 4234'@ 134; in 1889, 581211>787s ; in 1890, 5511>86; in 1891, 58¼1z>783s; in 1892, to January 22 inclusive, 65121i>7212. The general first mortga ge bonds are a first lien on the main line and on the lands, ex cept as to that part subject to the two divisional mortgages and the land east of the Missouri River, which is subjeotto the preferred stock. Central Trust Co. , of New York, is trustee. Sinking fund of 1 per cent per annum of the total amount of bonds issued (the proceeds of land sales being included as part of the one p er cent) be~an in 1886, and the bonds may be drawn at 110. In 1889 11 similar sinking furrn began for the 2d mortgage bonds. The 3d mortgage (see abstract, V. 47, 1>. 21) has an accumulating ~inking fund to begin in 1894 equal to 1 per cent of entire issue yearly :for purchase of bonds at 105 per cent, or for their redempt10n at maturity, but no bonds can be drawn. See abstract of Duluth & Manitoba Exten sion mortgage in V. 45, p. 273. The Northern Pacific & Montana and the Crnur d'Alene Railway & Navigatim1 Co. bonds are issued at $25,000 a mile; the James River Valley and the Duluth & Manitoba at $15,000 a mile; the 8pokan6 & Palouse at $16,000 a mile; the Helena & Red Mountain, a round sum; all the rest at $20,000 a mile. All the issues of leased line bonds inven •in the table, except the Crnur d'Alene 1st 6s of 1886, the NorthernPacific & Montana bonds and the Seattle Lake· Shore & Eastern 6s may be drawn and redeemed at 105 (certain amounts per year), under sinking fund provisions, which in most oases commence ten years after the date of issue of the respective bonds. This company guarantees th.e bonds of the Seattle Lake Shore & East,ern by endorsement; see that ~ompany. The consolidated mortgage for $160,000,000 was issued according to plan in CHRONICLE, V. 49, p. 373. It covers, subject to prior liens, the main line and branches, a one-half undivided interest in 24 miles more, and all the land grant except that east of the Missouri River, which ts subject to the preferred stock. In addition to this the bonds at pres,ent outstanding are a first lien on 1,276 miles of branches which have no prior mortgage on them. These bonds are also issued in place of l)riorbondson the main line and divisions retired by sinking funds. (See lull abstract of mortgage-trustee, Farmers' Loan & Trust Co.-in v. -50, p. 279.) LANDs.-The land grant of the company was 12,800 acres per mile in 13tates and 25,600 acres per mile in territories, and the Janos oarned by -construction to June 30, 1891, were estimated to be about 4<1,824,960 acres, of which about 39,075,535 remained unsold. The lands east of Bismarck (Minn. and Dak. Divs.) are pled ged to the preferred stock, .and that stock is r eceived in payment therefor. In October, 1891, a land decision by Judge Caldwell of the U. 8. Circuit Court was favor.able in its r esults to this company. See V. 53, p. 605. For the fiscal year 1890-91 total land sales were 366,152 acres for $1450,457. Total sales, inoludin~ town lots, &c., were $1,543,609; i;otal cash receipts for year, $1,389,517. For 5 months, July 1- D eo. 1, eales were 301,837 acres; total sales including lots, $1,778,236; total ,cash r eceipts, $1,839,187 from sales, notes p aid, &o. ~otal amount of deferred paym ents (notes) ag ainst land sales on Nov. 30, 1891, w a s $5,900,114, of which $ 587,218 w as appli cable to the r etirem ent of prefer red stock, $2,373,625 to Missouri Division and to' P end d'Oreille Division bonds and $2,939,270 t o the first mortgage bonds. E ARNINGS.-F rom July 1 , 1891, t o Nov. 30, 1891 (5 m on ths), gross ,earnin gs wer e $12,266,087 , again st $12,166,335 in 1890 ; net, $5,474,. 780, a~ainst $ 5,4 52,956.. For same period, net, includin g Wisconsin Cen tra1, was $6,455,766, against $6,419,180 ; miscellan eous income in 1891, $700,708; in 1890 , $197,467 ; total net (including Wisconsin Central) , $7,1 56,474 , against $6,617,307; all fixed charges, $5,491,087, against $5,068,5 18 ; sur pl us, $1 ,665,387, against $1,548,789. Fiscal year ends June 30. R eport fo r 1890-91 w as in V. 53 p. 567, 570. The Wiscon sin Cen tral does n ot figure in t he gross and net earnings below , but the net loss from operating its lines in 1890-91 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $ 1,000&0 19,528,000 1,000&o 11,301,000 l,OOO&c 45,329,000 645,500 500 &c. 3,000,000 963,000 1:000 360,000 500 1,000 878,000 1,000 1,766,000 1,000 1,650,000 1,000 1,451,000 1,000 400,000 l,OOO&c 5,381,000 1,000&c 1,750,000 1,000 5,450,000 1,000 3,600,000 1,000 5,156,000 4,751,000 1,000 100 2,620,300 1,000 400,000 500 &c. 3,500,000 100 &o. 999,750 350,000 759,500 100,000 ·ioo 24,092,629 1,000 6;501,000 6 6 ~ 7 6 6 6 6 6 6 6 6 6 6 6 6 ~ 6 6 6 4 6 5 g. A. & 0. N. Y., Mills' Building. g. J. & D. do do do do g. J . & D. J. & J. do do Q.-J. do do g. J. & J. do do g. M.& 8. do do g. A. & O. do do g. M.&N. do do do g. J. & J . do g. J. &D. do do g. M.& 8. do do do do g. M.& 8. g. M.& 8. do do g. F. & A. N. Y., Union Trust Co. g. J. & J. N. Y., Winslow, L. & Co. g. J. & J. N. Y., So.Pac.Co.,23 Br'd do do g. A. & O. J. & J. Boston, Second Nat. Bk. M.& 8. Boston, N. E. Trust Co. Boston, Office. A. & 0 . A. & 0. St. Albans, Vt. J. & J. (1) F. & A. Ogdensburg, N. Y. J. &D. . ",j. J ...&.. J . N. Y., Union Trust Co. Dec. 1, 1933 Dec. 1, 1937 Deo. 1, 1989 Jan. 1, 1907 Yearly to 1899 Jan. 1, 1936 Seit. 1, 1916 Oe 1, 1938 May 1, 1936 July 1, 1936 June 1, 1937 Moh. 1, 1937 Sept. 1, 1938 Sept. 1, 1938 Aug. 1, 1931 Jan. 1, 1933 Jan. 1, 1907 Oct. 1, 1938 Jan. 5, 1892 Moh. 1, 1897 Apr. 1, 1920 April, 1920 April, 1920 Aug. 1, 1909 June 1, 1919 Jan:·i, 1898 after payment of the rental, appears among the disbursements for the yea,r. EARNINGS AND EXPENSES. 1890-91. 1889-90. 1887-88. 1888-89. 4,348 Mileage, June 30 .... 3,778 3,337 3,465 Earnings$ $ $ $ 6,680,492 6,167,702 Passenger .......... 5,824,163 4,577,898 Freight .......... . ... 10,426,244 12,877,838 15,600,320 17,531,222 939,830 842,481 Mail, express, &c .... 842,186 1,005,467 Total ............ 15,846,328 19,707,468 22,610,503 25,151,544 Operating expenses. 9,266,884 12,185,944 13,463,746 15,400,996 Net earnings . . ..... . Per ct. exp. t<? earn's Receipts- Net earnin{s ..... . .. From inves m'ts, &o. 6,579,444 7,521,524 58·48 61·83 INCOME ACCOUNT. 1888-89. 1887-88. $ $ 6,579,444 7,521,524 548,537 532,325 9,146,757 59·54 1889-90. $ 9,146,7.57 1,341,172 9,750,5i8 61 ·23 1890-91. $ 9,750,548 1,593,135 Total .... . .. •...• 7,127,981 8,053,849 10,487,929 11,343,683 Interest on bonds ... Rentals . . . . .......... Guarantees . .. . ...... Sinking funds . ...... Def. on Wis. Central. Dividends (3 p. c.) ... Miscellaneous .....•. 4,703,955 782,359 881,072 224,095 4,917,833 1 ,159,263 1 ,060,738 343,309 Disbursements- ........ ·i7:s·is .... . ... ·oi·,2·2s 5,115,752 1,424,021 1,333,008 301,918 144,630 1,112,732 108-,708 6,247,074 1,362,114 1,014,698 73,600 387,365 1,472,466 348,078 Total............ 6,609,294 7,572,371 9,540,770 10,905,395 Balance, surplus... . 518,687 481,478 947,159 438,288 -(V. 51, p. 21, 84, 114, 142, 239,241 , 262,494, 515,534,538, 539, 680,721; V. 52, p. 80, 219, 280, 321 , 391, 571, 643, 698, 795; V 53, p. 288,368,520,546, 56'7, 5'70, 60~; v. 54, p. 159.) Nortbern Pacific Terminal Company.-Owns terminal faoillties on the Willamette River, Oregon, at Portland, East Portland and Albina, comprising lands 270 acres trackage 24 miles, buildings 39, dock frontage 7,904 feet. They are leased for fifty years from January 1, 1883,joiritly and severally to the Northern Pacific Railroad, the Oregon Railway & Navigation Company and the Oregon & California Railroad, with a guaranteed rental sufficient to pay interest, sinking fund and taxes. The sinking fund begins in 1893, and is to be sufficient to retire the bonds by maturity, bonds being drawn at 110 and interest. The stock of $3,000,000 is owned by said three companies (40 per cent by Oregon Railway & Navigation Company, 40 per cent by Northern Pacific and 20 per cent by Oregon & California Railroad), and held by Central Trust Company of New York, to be de_llvered after payment.s to the sinking fund, which is to cancel the bonds Nortnern .Railway Co. (Callfornia).-This was a oonsollda.tion in May, 1888. Owns 390milesof railroad, leasedfor 99 years from July 1 , 1888, to the Southern Pacific Company, the lessee paying fl.xed charges and betterments. The statement dated Feb. 28, 1890, to the N. Y. Stock Exchange was in V. 50, p. 393. The capital stock authorized is $21,000,000; issued $12,896,000, all but $199,300 being owned by Southern. Pacific Co. The consolidated 5s of 1888, issued under mortgage for $21 ,000,000, are a first lien on 197 miles, and have a sinking fund after 1897, but bonds cannot be called. In 1890 gross earnings were $2,685,103 ; net, $1,079,672 ; SurJ21Us ov&" charges, due Northern Railway Company, $485,629, against l!,424,318 in 1889, (V. 50, p. 377, 391, 393.) Norwich & Worcester.-Owns from Norwich, Conn., to Worcester, Mass., 59 miles; branch, Norwich to Allyn's Point, 7 miles; total, 66 miles. Leased to New York & New England RR. for 100 years from February 1, 1869 ; rental is 8 p~r cent on preferred stock. Common stock is $6,600. Notes payable Sept., 1891, $290,000. In 1886-87, gross receipts, $781,979; net, $293,108 ; payments for rentals, $40,220; interest, $27,165; surplus over 8 per cent dividends, $17,900. Oo-densburg & Lake Champlatn.-Owns from Rouse's Point, N. ~ . to Ogdensburg, N. Y., 118 nnles; leases for 99 years Saratoga & St. Lawrence RR., 9 miles. On June 1, 1 886, a perpetual lease of this road was m a de to the Central Vermont RR. Co., the lessee to pay interest on the bonds. The Ogdensburg Tran sit bonds are guaranteed by this company and the Central Vermont. Stock $3,077,000 (par, $100) of w hich $1,612.500 is owned by Cen t r al Vermont. In year ending June 30, 1891, gross earnings were $800,180; ne $213,681; d eficit after inter est, r ental and t axes, $4 2,829. In 1889-9 gr oss earnings, $771,954; n et , $228,105 ; d eficit after ch ar ges, $8,133 -(V. 51, p. 240,788; V. 52, p. 322, 762; V. 53, p . 25 6, 568.) Ob io & Miss l ssippi .-Owns from Cincinnat i, 0 ., to E ast St . Louis, Ill., 339 miles; Louisville bran ch, North Vernon to J effer sonville, Ind. , 53 miles; the Springfield Division, B eardstown to Sh awneetown, ill. , 228 m iles; New Albany & E astern,Wat son to New Albany, Ind., 7 miles; B ed.f<"•rd "Br an ch, 8 miles; total, 636 miles. Organiz~ ,November 21, 1 867 after fo r eclosure sale. o....c :; , , - N-~- ~ ~. • ~ I, a--....d ~ . Seu rn 0 z 0 cq A ~ r/1 ~ 0 -:, ~ rn. ~ 0 ~ ~ ~ ~ I i MAP OF THE ~ ~ ,-4 i~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ·, ~ NORTHERN PACIFIC RAILROAD, -~ ,t-~"BRANCHES -"LUED ~,.,~ ·, -? ,.,.. -9 \;: ~ ' ~~ : J.'l.'S & Railroad• proj«t«l or in progreu ')."'· INVESTO:aS' SUPPLEMENT. [V(;L, LlV. r• Subscribers ,vill confer a great favor by giving immediate notice of any error discovered in tbese Tables. n ds--Prlnol· RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or When Due. Amount Rate per When Where Payable, and by pal, of Par Sto< ks-Last F->r explanation of column headings, &c., see notes of Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. on first page of tables. --- Ohio & Mississtr-(Oontinued.)- 1st consolida ed mort., sterling, s. f. not dr'n. - _c* 2d cons. mort. (cum. sink. fund), no drawinf _c* Spring. Div. (Sp. & Ill. S. E.) 1st M.($3,000,0 O)c* 1st general mortgafe (for $16,000,000) -- - - . - - . . c* EqUii Tr.,3 series, 0 per ct. drn. yearly at lOO_c* Cin. Bedford 1st mortgafe, gold ... -... - . - -.· - - .. Ohio Rive1·-lst mort§age, god, $12,000 per mile.c* Gen. M. gold (for$ ,000,000) 1st on 39 miles. _c* Ravenswood Spencer & Glen.lstM., gold,fiuar_c* Ohio Soiitliern-lst mort. ($15,000 p. m.) god_ ... c* G:eneral mortga~e, gold (for $2,800,000) _....... c: Ohw Valley,Kt.- en. consol. M., guar_ ...... ____ c Old Oolony-S ock authorized, $15,000,000 ....... c* Bonds (not mortga\e) .............. --··········c&r Bonds do ( 2,000,000F.&A.,Aug.'97)c&r ................................ r Bonds do Bonde for Framingham & Lowell bonds ......... c Bonds not mort. ($750,000 '84, due July, 1904) _r New Bedford RR. 1st mortgage .................. c Boston Clin. F. & N. B. mortgage bonds ... ...... c Omaha & St. Louis-1st mortgage, gold .......... _c* 2d mort~age ($4,000 Ker mile) !old_ ........... c* Funded mterest certi cates, re eemable at 100_. Orange Belt-1st M. ,g.,$5,000$:.m.red.aft.1891.c*&r Orange-Keysville-1st mort., 15,000 Eer m. gold .. Oregon & Oal.-lstM.,g.($30,000p.m.) r'natlOO_c* Oregon Pacific-1st M.,l. g., s. f.,g.,$25,000 p.m.c*&r 393 393 222 ---· --··6 169 208 33 132 ---- 108 .... .... .... .... --·· ---· 58 125 145 145 i53 ..... 555 ....... 1868 1871 1874 1883 '87-'91 1889 1886 1887 1890 1881 1889 1888 ·--- 1874 '75-6-7 1882 1884 '84-'88 1874 1880 1887 1890 1891 1887 1889 1887 1880 £200 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 100 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 ---- 1,000 1,000 1,000 1,000 The terms of preference in preferred stock certificates read: "The preferred stock is to be and remain a first claim upon the property of the corporation, after its indebtedness, and the holder thereof shall be entitled to receive from the net earnings of the company 7 per cent per annum, payable semi-annually, and to have such interest paid in full for each and every year before any payment of dividend upon the common stock; and whenever the net earmngs" ·' * * · "shall be more than sufficient to pay both said interest of 7 per cent on the preferred stock in full, and 7 per cent dividend upon the common stock for the year in which said net ~arnings are so applied," then the excess shall be divided equally, &c. In Nov., 1890, the English shareholders appointed a committee to call for the deposit of · stock with Brown, Shipley & Co., whose certificates were issued for about $ . ... _... common and preferred stock, and a plan of reorganization of the finances and control by the B. & 0. railroad was presented in October, 1891. V. 53, p. 569. There was a contest at the election Oct. 15. See V. 53, pp. 570, 608. Of the general mortgage of 1883 $12,142,000 is reserved to exchange for old bonds as they mature. Cyrus C. Hines, of Indiana, and Union Trust Company, of New York, are mortgage trustees. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $1,909,803, against $1,848,973 in 1890 ; net, $581,891, against $577,783. Fiscal year ends June 30. Report for 1890-91 in V. 53, p. 519. INCOME ACCOUNT. 1890-91. 1887-88. 1888-89. 1889-90. $ $ $ 3,955,165 1,019,804 4,214,747 1,302,274 4,108,974 1,172,412 mterest on debt_ ... 1,042,530 61,000 29,931 1,047,671 65,000 80,377 1,054,245 69,000 96,600 1,066,892 73,000 70,162 ~ Disbursements- tr~~1ta;i~o%s :::::: J. & J. London. Jan. 1, 1898 A. & O.N Y., Union Trust Co. Apr. 1, 1911 M.& N. do do Nov. 1, 1905 J. & D. do do June 1, 1932 Various N. Y.BaringMagoun&Co 10 p. c. yearly. M.&N. . do do Nov. 1, 1919 J. & D. N. Y., Central Trust Co. June 1, 1936 A. & O. do do Apr. 1, 1937 F. & A. do Aug. 1, 1920 do J. & D. N. Y.,CorbinBank'gCo. June 1, 1921 M.&N. Ma,y 1, 1921 do do J, & J. N.Y., Central Trust Co. July 1, 1938 See rem. Boston, Office. Dec. 1, 1891 M.& s. Mch. 1, 189, do Various do 1895-'96-'97 do Dec. 1, 1897 do J. & J. do J. & J. do July 1, 1894 J. & J. Boston, N. E. Trust Co. Jan. 1, 1910 J. & J. Int. funded till Jan.,'93 Jan. 1, 1937 May 1, 1940 J. & D. New York. Jan. 1, 1937 J. & J, do & J. ............. Jan. 1, 1907 J. M.&N. Nov. 1, 1919 N. Y., S<>Uth:-Facific Co . July 1, 1927 J. & J. A. & 0. Apr., '90, coup. last :.;:d. Oct. 1, 1900 i:. ~U~:1 Uo:i 1. ½~gt per cent yearly. In Septeu1ber, 1891, it was thereafter dividends would be paid quarterly on the .fl.rst·days of December, March, June and September. In the 3 months ending Sept. 30, 1891, gross earnings were $2,454,739, against $2,464,406 in 1890; net, $949,273, against $880,745. Year ends June 30. Report for 1890-91 was in v. 53, p. 323. Years prior to 1889-90 below end September 30. INCOME ACCOUNT. 1887-88. 1888-89. 1889-90. 1890-91. Receipts$ $ $ $ Gross earnings 6,322,628 7,726,312 8,020,295 8,376,452 · · · · · · · · · · · 1,684,961 1,995,036 2,059,855 1,906,177 Net earnin~s · · · · · · · · · · · · · 94,090 132,766 0ther 135,723 239,054 receipts.··········· Total income ........ . 1,779,051 2,127,802 2,195;578 2,145,231 I announced that Total. ... _... . . . 1,133,461 1,193,048 1,219,845 1,210,052 Balance_ ... _....... _sur.110,681 def.173,244 sur.82,429 def.37,639 -(V. 51, p . 303,456,536,681,715,786; V. 52, p. 832; V. 53, p. 126 187. 289, 324, 519, 569. 608,640,754, 836; v. 54, p. 120.) Ohio River.-LINE OF ROAD.-Wheeling, W. Va., via Parkersburg, to Huntingdon, W. Va., 215 miles, of which 208 miles are owned. The other 7 miles (Benwood to Wheeling and Guyandotte to Huntington) being operated under i rt.•}kage agreement. The Ravenswood Spencer & Glenville is building a line in the interest of this company from Ravenswood, W. Va., to a connection with the West Virginia & Pittsburg Rail way at Glenville, and its 1st mortgage bonds for $400,000 are guaranteed :principal and interest. The stock authorized is $6,000,000-outstanding $5,915,400; par, $100; car trusts, $143,896. From ,January 1 to Nov. 30, 1891 (11 months), gross earnings were $649,947, agarn.....c $623,320 in 1890; net, $271,711, against $285,121. In 1890 gross earnings, $680,972; net, $315,013; interest, $221,400; taxes, etc .. $38,520; surplus, $;)5,093. In 1889 gross, $589,770; net, $289,471 ~1.rplus over interest and taxes, $51,476. George W. Thompson, Presid\mt, Parkersburg, W. Va. (V. 50, p. 769; V. 51, p. 416, 680; v. 52, p. 831; v. 53, p. 408.) Oil.lo Soutb.ern.-Own Springfield, 0., to Wellston, 118 miles, and branches, 22 miles. Stock authorized, $5,500,0(?0; outstanding, $3,840,000-par $100. General mortgage of 1889 1s to the Central Trust Company) as trustee. From Jan. 1 to Oct. 31, 1891 (10 months), gross earnings were $469,087, against $441,981 in 1890; net, $235,762, against $214,976. In 1890 gross earnings were $554,390; net, $261,881 ; interest, $226,800 surplus, $35,081. Gross earnings in 1889, $525,657; net, $217,821 ; interest $142,800; surplus, $75,021. Alfred Sully, President, 80 Broadway, New York City. (V. 50, p. 72; V. 52, p. 832.) Ob.lo Valley~-completed from Evansville, Ky., to Princeton on the Chesapeake Ohio & Southwestern, 99 miles; branches, 9 miles; total, 108 miles. In 1891 this company's stock was purchased by the Chesapeake Ohio & Southwestern, which guarantees the bonds by endorsement. See wording of guaranty in application to N. Y. Stock Exchange, V. 52, p. 974. It is expected that the Ohio Valley will be pushed further south at once. Of the old fives due in 1926 only $100,000 are outstanding. The stock is $2,163,000; par, $100. In year 1890-91 gross earnings were $270,404; net, $91,217 (against $65,455in 1889-90); fixed charges, $75,155; other income, $5,614; bal• ance., surplus, $21,676, against $33,938 in 1889-90. (V. 51, p. 607; V. 52, p. 321,718,974; V. 53, p. 602, 641.) Old Colony (Mass.)-Owns from Boston to Provincetown, Mass., 120 miles ; lines to Kingston, Plymouth, Somerset Junction, New Bedford, Lowell and FitchbUI'g, Mass., and to Newport, R. I., 249 miles, and numerous branches 113 miles in all; total owned, 482 miles; leases-Boston & Providence Railroad, Boston to Providence,44 miles, and branches 20 miles; other lines, 30 miles; total owned and leased, 576 miles. In 1888 a lease of Boston & Providence Road was made for 99 years. An increase of stock from $12,000,000 to $15,000,000 was authorized by stockholders in November, 1889, to pay for new connections, etc. Bills payable July 1, 1891, $1,562,561. A terminal company in which the Old Colony has a one-half interest will issue bonds for about $3,000,000. See under N. Y. Providence & Boston. Dividends since 1876-In 1877 and 1878, 6 per cent; in 1879, nil; in1880 and 1881, 6; in 1882, 612; from 1883 to July, 1891, both in- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 g. 7 7 5 6. 5 g. 5 g. 5 g. 6 g. 6 g. 4 g. 5 g. 2·90 7 6 412 412 4 7 5 4 g. 5 g. 5 5 g. 6 5 g. 6 g. I elusive, at the rate of 7 $ Gross earnings .... . 3,977,559 Net earnings ....... . 1,244,142 $112,000 3,334,000 2,009,000 3,886,000 545,000 135,000 2,000,000 2,428,000 300,000 2,100,000 2,482,000 2,162,600 12,567,100 1,692,000 3,600,000 200,000 498,000 3,650,000 400,000 1,912,000 2,717,000 51,000 271,700 700,000 30,000 16,654,000 10,000,000 Disbursements- Rentals paid ............ . Interest ....... _... _.. _. .. . Dividends (7 per cent)_ .. . tmprovementaccount ... . $ 265,559 636,368 802,763 74,361 $ 560,995 672,133 830,655 64,019 58l6o5 658,675 844,683 107,615 $ 563,373 696,213 872,690 12,955 Total disbursements .. . 1,779,051 2,127,802 2,195,578 2,145,231 -(V. 50, p. 207, 622; V. 51, p. 172,344,382,458,646,681; V. 5i, p, ~39, 718; V. 53, p. 187, 288, 323, 674.) Omaha & St. Louis.-Owns road from Council Bluffs ,Ia., to Pattonsburg, Mo., 144 miles. This company was formed in 1887 as suocessor to the Omaha Division of the St. Louis Kansas City & Northern (Wabash), sold in foreclosure. Preferred 6 per cent stock, non-cumulative, $2,220,500; common stock, $2,313,000 deposited in trust till June 1, 1893; par, both, $100. Five coupons, including the coupon due January 1, 1891, were funded into 5 per cent loonds, due 1937, but redeemable at option of company, the new bonds being secured by the coupons deposited in trust. (See V. 52, p. 81, 391.) See abstract of first mortgage, V. 45, p. 213. For year ending June 30, 1891, gross earnings were $525,487; net, $47,795. In fiscal year 1889·90 gross were $654,828; net, $141,083-(V. 51, p. 786; V. 52, p. 81,391, V. 53, p. 921.) Orange Belt.-From Sanford, Fla., to St. Petersburg, 153 mile11J The bonds are 5-20s, and may be redeemed after January, 1892. They are guaranteed by the Orange Belt Investment Company. Company reorganized April, 1889. E. T. Stotesbury, Philadelphia, President. (V. 46, p. 245.) Orange-Keysville.-Was under construction from Gordonsville (Junction Chesapeake & Ohio and Richmond & Danville) in Orange County, Va., to Keysville, Va., on the Richmond & DaRville, about 95 miles. Road is in the hands of the court and a motion for a receiver was refused in June, 1891. It is expected that in October, 1891, a sale of the road will be ordered, and construction soon thereafter resumed. The suit, it is said, has been a fight for control. Trustee of mortgage is Farmers' Loan & Trust Company of New York. Stock authorized: common $1,000,000 ; preferred $700,000; guaranteed preferred, $300,000. Oregon & CaliCornia.-From Portland, Ore., to California State line, 365 miles; Albany Junction to Lebanon, 12 miles; West Side Division. Portland to Corvallis, 97miles; Woodburn to Coburg, Ore., 80 miles. Total, 555 miles. Of the old sixes due July 1. 1921, $82,000 are yet out. The land grant was about 4,000,000 acres, part of which is covered by the mortgage, proceeds of land sales going to redeem bonds drawn at par, unless purchasable lower. Trustee of mortgage, Union Trust Company, New York. In 1890 net la nd sales _subject to mortgage were 20,495 acres for $101,078; cash receipts, $33,711. In September, 1891, it was reported that the company would acquire the Portland & Willamette Valley and Oregonian roads and would build extensions. Reoro-anized in 1887 per plan in CHRONICLE, V. 44, p. 118, 370. The road is~eased to the Southern Pacific Company for 40 year,i from January 1, 1887, the lessee guaranteeing interest on the bonds, and the lessor receiving any net profit and being charged with any deficit after payment of charges and betterments. The Pacific Improvement Company owns the bu1k of its $19,000,000 stock, $12,000,000 of which is 7 per cent preferred. In 1890 gro!l.s earnin"'s on 474 miles were $1,927,339; net, $496,830 (against $806,804 in 1889); total net income, including interest received, $595,760; fixed charges, $855,190; deficit for year, $259,439, against surplus of $142,187 in 1889, the loss in 1890 being due to exceptional causes.-(V. 51, p. 910; V. 53, p. 793.) Oreo-on Paci.f ic.-Projected from Yaquina, on Yaquina Bay, Ore., to eastern boundary of the State, about 600 miles, of which 136 miles, to near summit of Cascade Mountains, are completed and in operation ; 3 O miles more are finished, and 40 miles are ready for the rails. Over 950,000 acres of land sulJject to prior lien of $ (1) are covered by the mortgage. The Farmers' Loan & Trust Company of New York is trustee under the mortgage. See abstract. of same in V. 49, p. 240. Stock is $30,000 per mile. Default was made on coupons due October 1, 1890, and Mr. T. E. Hogg, the President, wae appointed recetver. See V. 51, p. 609. Receiver's certificates for $550,000 have been authorized. In addition to about $10,000,000 bonds that were sold, some $5,000,000 were pledged to secure a debt of about $3,000,000. The latest reorganization plan was in the CHRONICLE of Jan. 9, 1892. (V. 54. p. 79). The road was sold on Jan. 20 and purchased for the committee. Office, 45 William Street, New York. (V. 51, p. 458, 609; V. 53, p. 59, 570; v. 54, p. 159.) JANUARY, 1892,] RAILROAD STOOKS ANlJ BONDS. 103 Subscribers vvill confer a great favo1 ,by giving ilnmediaie notice of any error discovered in tllese Tables. Bonds-PrinciRAILROADS. INTEREST OR DIVIDENDS. Miles Date Bfae, o, Amount Rate per When Where Payable, and by pal, When Duti. For explanation of column headings, &c., see notes of of Stocks-Last on first page of tables. Road. Bonds V~f~e._ Outstanding Cent. Payable Whom. Dividend. I Oregon Railway & Navigation-Stock....... . ....... ---- $100 ---1879 1,000 1885 1,000 1889 1,000 1882 1,000 1879 1,000 1879 1,000 1878 1,000 1886 1,000 1887 1,000 1887 1,000 1,000 1889 1889 500 &c. .. 50 ---1,000 1876 1,000 1883 1,000 1881 1,000 1889 1,000 1890 100 ---£200 1867 1880 $1,000 50 ---- 1,000 1890 50 ---- ---1,000 455 1867 1,000 }455 { 1873 1879 1,000 1,000 571 1881 1st mort. bonds, gold, sink. fd. (drawn at 100) .. c .... .. Consol. mortgage, gold, $25,000 per mile._ .... c&r . .... Collateral trust, gold,redeemable at 105 ...... . c• ---Oregon Sh,01·t Line & U. Nor.-Or. Short. L. 1st M.,g. 610 Utah So. mort., S. Lake to .Juab (for $1,950,000) .c 105 Utah South. Extension., 1st M., .Juab to Frisco.c 138 Utah & Northern 1st mort., $12,000 per mile .. c* 462 Consol. M.,guar., $15,000 p. m.,s. f.not dr'n,g.c* 466 Equisment bonds ($36,000 payable yearly) ..... .. .. Idaho entral 1st mort. Nampa to Boise City _.c* 19 Consol. M . (1st on 201 miles) gold, red. at 105 .. c* 1,421 Collateral trust, gold (redeemable at 105) guar.c* Oregon & Washington 1·er.-lst mortgage._ ......... .56 Oswego & Sy1·acuse--Stock, 9 p. c. ~ar., D . L. & W. 35 Consol. mortgage (guar. D. L. & .) .............. ---Construction M ., ~ar. prin. &int.(for$1,000,000) 35 Owensb01·0 & Nashville-1st mortgage, gold . ... . .. c* 88 Pacific Slw1·t Line-Nebraska West. 1st mortgage. 130 Paducah Tenn. & .A.la.-lstM., $20,000perm., g.c* ..... Pana1na-Stock . .. ...... _............................ 48 General mortgage, sterling .......... _. __ ... _..... c 48 Sinking fund subsidy mort.,gold, drawn at 100.c* 48 P aterson & .Uttd.-Stk.,8 p .cl,erp.rent.N.Y.L.E.&W. 15 P ecos Valley-1st mort., gal , $12,000 per mile .. c* 89 P~:i~o~t~,$:tic.~::::::::::::::::::::::::::::::::: Consol. M . for $100,000,000, s. fund, not drawn .. do do (same lien as consol. 6s) gold ... _...... Bonds (P. W. & B. stock as collat.) s. f., not dr'n.1· ---· 1 $24,000,000 5,079,000 12,583,000 5,182,000 14,931,000 1,526,000 1,950,000 4,99 5,000 1,865,000 213,000 140,000 11,232,000 13,000,000 1,142,000 1,320,400 438,000 668,000 2,000,000 2,600,000 1,320,000 7,000,000 2,989,000 2,404,000 630,000 904,000 123,082,050 19,997,820 27,480,020 4,998,000 7,915,000 Q.-.J. Boston,Office,E:luit.Bld .J. & .J. N.Y., Un.Tr. Co. Bost'n .J. & D . do do M.& s. do do F. & A N.Y., Un.Tr.Co.&Bost'n .J. & .J" do do .J. & .J· do do .J. & .J· do do .J. & .J· do do A. & O· do do .J. & .J· do do A. & O· do do M . & s. do do .J. & .J. N. Y., Farm. L. & Tr. Co. F. & A, N. Y., Del. L. & W. RR. do do M.& s. M.&N. N. Y., Farm. L. & Tr. Co. M. &N. New York. In default. .J. & .J . .J. & .J . N. Y., Central Trust Co. Var. N. Y., Of., 15 Broad St. A. & 0. N.Y., 1 5 Br'd St.&Lond. M.&N. N. Y., Of., 15 Broad St. New York. .J. & .J. A. & 0. N.Y., Mercantile Tr. Co. M.& N. Philadelphia, Office. 3 Various Phila. Office & London. 6 Various Phila. Office & London. 6 5 g. Various Philadelghia, Office. .J. & .J. Phila.,Pa. o.for Ins.&c. 4 112 6 g. 5 g. 5 g. 6 g. 7 7 7 5 g. 5 6 5 g. 5 g. . . ·412 7 5 6 g. 5 5 g. 3 7 g. 6 g. 4 5 g. .Jan. 2, 1892 .July 1, 1909 .June 1, 1925 Sept. 1, 1919 Feb. 1, 1922 .July 1, 1909 .July 1, 1909 .July 1, 1908 .July 1, 1926 Apr.1, yearly. .Jan. 1, 1917 Apr. 1, 1919 Sept. 1, 1919 -------- Feb., 1892 1907 May, 1923 Nov. 1, 1931 .July 1, 1929 .July 1, 1920 Dec. 29, 1891 Oct. 1, 1897 Nov. 1, 1910 .Jan. 2, 1892 Oct. 1, 1920 Nov.28,1891 .July 1, 1910 .June 15, 1905 Sept. 1, 1919 .July 1, 1921 Oregon Raihvay & Navigation.-MA..IN LINE-East Portland, 1 Oregon & Wasllino-ton TerritorY.,-Operates from Pendleton, Ore., to Huntington, Ore., 403 miles; branches 628 miles; total oper- Oregon, to Dayton, Washington, 127 miles, and branches, 40 miles. ated .July 1, 1891, 1,029 miles, of which 431 miles owned and 598 miles In March, 1891, Mr. C. B. Wri~ht, of Philadelphia, a director of tbe leased. Ocean line between San Francisco and Portland, 670 miles. Northern Pacific Railroad, purcnased all its stock and bonds. See v. Leased for 99 years from .Januar y 1, 1887, to the Oregon Short Line & 52, p. 391. President, G. W. Hunt, Walla Walla, Washington. Utah Nor~hern RR., ~e11:tal l>eing 6 per cent per annum on_ stock and inOsvvego & sy 1·acuse.-Owns from Oswego, N. Y., to Syracuse, N terest on 1~s bond~. :rh1s lease (see abstract V. 45, P: 539) 1s guaranteed Y., 35 miles. Leased in 1868 during length of charter and renewal by _~he_ Uruon Pacific. In 1889 the Oregon Short Lme Co. purchased a thereof to the Delaware Lackawanna & western Railroad Company for mlfi~4~lni~ ~~ic~1i~6-In 1879 , 2 per cent; in 1880 , 8 and 10 scrip; 9 per cent per year on $1,320,400 stock and interest on bonds. 1n 1881 and 1882, 8 ; in 1883, 10; in 1884, 612; in 1885, 412; in 1886, _O-wensbor~ & Nasllvi_lle.-Owns from 9wensboro, Ky., to Ada~7; in 1887 and 1888, 6; in 1889, 7 (1 per cent being extra out of assets); ~lie, Ky., 84 ~iles ; !'fud Rive! Branch, 4 miles. Operated by Lomsin 1890 and 1891, 6 per cent; in 1892, .January, 112. ville & Nashville Railroad, which owns ~1,014,000 of the $1,156,518 The first morgage has a sinking fund of $60,000 per year, plus stock (par, $100) and $1,200,00(? of the first mortga;ge bonds-all these interest on bonds canceled (making $96,880 in all in year 1888-89), to bonds and most of the stock bemg_:{lledged un!1er its trust_ deeds. In buy bonds at or below 110, or else draw them at par on .January 1, 1889-90 surplus over fixed charges $42,136, agamst $31,148 m 1888-89. bonds so paid being canceled. The Farmers' Loan & Trust Co. is trustee Pacific Sllort Line.-See NEBRASKA O'NEILL & WESTERN. of the 1st and the consolidated mortgages. Paducah Tennessee & A.labama.-In operation from Paducah The collateral trust issued in 1890 (trustee American Loan & Trust Ky., to Paris, 65 miles, and to be built to Sheffield, Ala., 135 miles ad Company of Boston) provides for the issue of $25,000,000 bonds. The ditional, 24 miles to Hollow Rock, Tenn., bein~ under con truction. entire issue (but not less) may be redeemed on seven months' notice at The morto-age (Central Trust co., trustee) is for $1,680,000. stock au105 and interest. See abstract of mortgage and of the ruortgages se- thorized, $5,000,000 ($20,000 per mile); outstanding, $1,320,000; par curing the bonds pledged in V. 51, p. 2,f3. $100 From January 1 to Nov. 30 in 1891 (11 months), gross earnings of Pa:nama.-Owns from Colon to Panama, 4.8 miles. Opened throuo-h railroads were $5,274,528, against $4,469,217 in 1890; net, $1,822,255, .January 28 , 1855 _ The subsidy bonds are secured by a pledge of t'<"e against $876,750. In 1889 gross, $4,576,136; net, $1,575,351; ;n rental received $2,414,960; loss to lessee after deductiue: credits and sum of $225,1-000 annual subsidy payable to the U. S. of Colombia by the adding loss on water lines ($17,570), etc., $744,422. m 1890 gross company. uf the l1onds given above as outstanding $249,000 of the 7s $4,954,711; net, $908,336; rental received $2,556,593; other expenses and $411,000 of the 6s are held by the sinking fund of the 7s of 1867. met by lessee (loss on water lines $70,517, interest on Northern Pacific In .June, 1881, most of the stock was sold to parties interested in the De 'J;'erminal bonds $55,415, etc.) $140,933; loss to lessee, $1,789,190.-(V. Lesseps Panama Canal Co. The report for 1890 was in CHRONICLE, V. 50 p. 70, 706, 771, 910; v. 51, p. 243.) 52, p. 569, showing n et income of $922,500, against $937,300 in 1889, Oreg·on Sho 1·t Line & Utall Nortllern.-O wns road from and a sm·plus over charges of $348,873, against $384,150. Dividends since 1881 have been: In 18 2, 1212; in 1883, 1312; in 1884, 16; in Granger, Wyoming, to Huntington, Oregon, 542 miles; branch Sho- 1885, 10; in 1886 and 1887, nil; in 1888, 26; in 18 9, 9; in 1890, shone to Ketchum, Idaho, 70 miles; Ogden to McCammon, Idaho, 110 M h 31- D 1.1,, · 1891 M h 2 D 3 (V 50 48"' v• miles; Pocatello to Silver Bow, Montana, 256 miles; Lehi .Junction to arc ,,,; ec. ,.; in ' arc ' ; ec., · · , p. ,.. ; Tintic, Utah, 54 miles; Oo-den, Utah, to Frisco, 275 miles; sundl·y 52• p. 5 69 ; V. 53 , p. 324· l branches, 114 miles (of whlch 40 miles narrow gauge); total, 1,421 Paterson & Hudson.-Owns from Weehawken, N . .J., to Paterson miles. Also leases and controls the Ore. R. & Nav. co., which see above. N . .J., 13 miles. The road was leased in perpetuity in 1852 at a rental This company was formed in 1889 by a consolidation of the Oregon of $48,400 per year, and is operated by the New York Lake Erie & Shoi-t Line, the Utah Northern and other lines. It is controlled by the Western as part of its main line. Union Pacific R ailway Co, which operates it under a traffic agreement, Pecos Valley.-Projected from Pecos City, Texas, on the Texas & and owns a majority of the stock. Pacific Railroad, via the valley of the Pecos River, to Albuquerque, New Oregon Railway & Navigation stock for $13,940,700 is owned, $12,- Mexico, on the Atchison Topeka & Santa Fe, about 340 miles; completed 500,000 being deposited as security for the collateral trust bonds of in .January, 1891, from Pecos City to Eddy, about 90 miles. The 1889. There is a sinking fund for this issue, but not less than the mortgao-e (trustee, Mercantile Trust Company of New York) is for whole amount can be called for payment, and that only at 105. The $5,000,000. Stock authorized, $5,000,000; outstanding, $1,105,000; Union Pacific guarantees both principal and interest of the collateral par $100. (V. 51, p. 458.) trust bonds, and on .January 1, 1891, held $4,631,000 of them in its Pennsylvania.-(See Map)-LINE OF ROAD-The Pennsylvania sys. treasury, together with $1,811,000 consolidated 5s. Trustee is Ameri- tern embraces about 7,949 miles of railroad, including all east and west can Loan & •.rrust Co. of Boston. See mortgage abstract, V. 51, p. 243. of Pittsburg. .At the close of 1890 the mileage operated east of PittsThe consolidated mortgage due 1919 (trustee, American Loan & Trust burg & Erie, on which earnino-s as reported were based, was divided as Company) is a first lien on 201 miles and a second on 1,220 miles. Suf- follows: Pennsylvania Divi rnn and branches, 1,440; Philadelphia & flcient bonds are reserved to retire prior bonds when due, and the total Erie Division, 546; United Railroads of New .Jersey and branches, 448; issue on the road in o~eration is not to exceed, including prior liens, total operated, New York to Pittsburg, with branches, 2,434. $25,000 per mile. Bon s may be issued for extensions at $25,000 per ORGANIZATION LE.A SES, &c.-The charter of the Pennsylvania Rail• mile (unless a majority of the bondholders object) and additional amounts road was dated April 13, 1846 _ The Harrisburg Portsmouth.Mount .Joy for terminals and second track, but not exceeding in the ago-regate $35,000 per mile of double track. The issue is redeema@le (but only as a & Lancaster is still operated under a lease, though forming part of the whole) on any coupon day at 105 and interest. There will be a sinking main-line. fund when earnings suffice, but for this no bonds can be drawn. ProThe Pennsylvania Company was organized in 1870 as an auxiliary vision was made for exchanging the securities of the original com- corporation to control all the lines west of Pittsbm·g and Erie, the Pennpanies for consols, so that the consolidated mortgage is gradually be• sylvania Railroad Company holding all its stock. coming a first lien. The Union Pacific guarantees interest on this issue STOCK AND BONDS.-The Pennsylvania Railroad stock has been inunder a traffic agreement. See abstract of mortgage V. 51, p. 242. creased from time to time, chiefly by the sale of stock at par to stockStock authorized $27,000,000 (par, $100); outstandins- $26,031,719, holders, for the purpose of raising capital for new acquisitions, etc. of which the Union Paci.fie on J anuary 1, 1891, ownea $14,999,903. In March, 1890, $20,000,000 new stock was authorized by stock Floating debt .January 1, 1891, $1,791,734. holders for improvements and additions as required, and the President's From .January 1 to Nov. 30, in 1891 (11 months) gross earnings were remarks on this policy were given in V. 50, p. 392. Of this $20,000,000 $6,963,061, against $6,881,911 in 1890; net, $2,762,916, against stock, towards one-half has been issued and is included in the amount $2,346,552. outstanding in the table above. See CHRONICLE, V. 50, p. 622, 801. · Report for 1890 was in V. 52, p. 679, showing the following: Dividends since 1879-In 1880, 6 and 1 per cent in scrip; in 1881, 8; INCOME ACCOUNT. in 1882, 812; in 1883, 812; in 1884, 7; in 1885 and in 1886, 5; in 1887, 1889. 1890, 512; in 1888 and 1889, 5 per cent yearly; in 1890, May, 3 per cent; Average miles operated .. .. .... ....... _...... . 1,397 1,464. Nov. 212; in 1891, May, 3, either cash or non-interest bearing- scrip, $ $ convertible into stock till August 1, 1891; Nov., 3 p er cent. (See V. 52, Gross earnings................................ 6,512,345 7,488,031 p. 718.\ Net earnings................................... 2,628,665 2,334,047 Price of stock in Philadelphia (price per $50 share not percentum Income from investments, etc................ 449,452 884,165 price)-In 1880, 48'@67 14; in 1881, 5912W701s; in 1882, 53 7s'@6514; in 1883, 56lsW6434; in 1884, 49141il61; in 1885, 4534'@56 1s; in 1886, 51 3s Total net income . . . . . . . . . . . . . . . . . . . . . . . . . . 3,078,117 3,218,212 W6014; in 1887, 5312a>60; in 1888, 5212'@5618; in 1889, 50 14'ii>56; in 1890, 473s'@5612 ; in 1891, 495s'ii>fi712; in 1892, to .Jan. 22 inclusive, 55 DisbursementsInterest on bonds ............. . ....... _.. __ .. _ 1,834,879 2,577,412 '@573s. This company owns $10,890,950 stock of the Philadelphia Wilmington Sinking fund ...... ....... ... ............. . _.... 15,423 201,110 Loss on lea ed lines (Ore. Ry & Nav. system) 736,206 1,789,190 & Baltimore Railroad, aud the four per cent bonds of 1921 are purchased yearly, if obtainable at not over par, with the surplus proceeds of PhilaMiscellaneous ....... _............... _.. __ ..... 201,811 47,182 delphia Wilmington & Baltimore dividends. Interest on general mortgage 6s of 1867 is payable on coupon bonds Total...................................... . 2,788,319 4,614,894 January 1 and .July 1; on rerr1stered bonds, April 1 and October 1. lnBalance .................. ... ...... . ...... .... .. sur.289,798 def.1,396,682 terest on consolidated 6s of' 1873 is payable on coupon dollar bonds -(V. 51, p. 84,172 242,243; V. 52, p. 679, 902.) on .June 15 and December 15; on coupon sterling bonds, .January 1 and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,.. ~ ~ ~ ~ t:z:j u:. ~ 0 t1j re t7.l ~ '"'d 1-d ~ z~ ~ l'lketon 0 1Iazard. ,/ l'ea4atcllO // V MAP OF THE PENNSYLVANIA R.R. AND ITS CONN ECTION S. ':a ~ E: :ci JANUABY, 1892.] RA.ILROA.O STOCKS AND BONDS. Sub ■crtbers -wUl eonf'er a great Cavor by giving Immediate notice oC any error discovered In these Tables. Bonds-PrinoiRAILROADS. INTEREST OR DIVIDENDS, Miles Date Size, or pal, When Due. For explanation of column headings, &o., see notes of Par of 0-~~~Jng Rate rer When !Where Payable, and by Stocks-Last Cen . Payable Whom. on first page of tables. Road. Bonds Value. Dividend. --Pennsylvania-( OoncludedJ.- Navy Ya.rd mort. (extended 20 years in 1881) ... r Collateral trust loan, gold (s. f. 12 p. c.) not dr'n.o* Penn. Car Trust (in series payable i 10 yearly) .... Equip. Tr. (ser. "A" to "H "gayable one-tenth y'rly) E~p. Trilold loan (s. f. p.c.) not drawn ..... o* De . Ave. arket Co. 1st mort~age....•.......... r Penns'K!vania OomJanW-Stock ............•......... Bon , sec. by P. t. . & C. stock (s. f.dr'n at 105.r Bonds, g., sec. by pl'ge & guar. (s. f. not dr'n)c*&r Pennsylvania & Northwestern-Stock ................ Bell's Gap 1st mortJage, Bells Mills to Lloyds.o* ExtenBionlstmo fuaff<e ........................ o• Consol. mort. (for $ 0,000) s. fund not dr'n. c* Clearfield' & Jefferson 1st mortgage ............. o* Penn. & N. W. gen. mortgage for $1,660~00 ..... Pennsylvania Poughkeepsie & Boston-1st ., g .. c* 2d mortgage for $500,000, gold .........•....•.... Pensacola & AUantic- 1st M., gold (s. f. dr'n at 110), guar. by L. & N .. o* 2d mortgafe (2d on lands) ................•...... c* I.and gran bonds .................................. Peoria & Bureau Val.-Stk., 8 p. c. rent'l C. R.I.&P. Peoria Decatur cf Evansville-Stock ...... ............ 1st mort., gold (Peoria Div., Pekin to Mattoon) c* lstm. (Evansv.Div., Mattoon toEvansville,) .g.o* Be~ond mortgage, !l°ld .......................... o* Peoria cf Eastern-In . Bl. & W. 1st mort., pref.. o&r Ohio Indiana & Western 1st mort., pref., gold ... o* Consol. mort. for $10~00,000, intere&~ar ..•. c* 2d oonsol. mortgage, come, non-cum ative... c Peoria~ Pekin Union-1st mortgage, gold ........ c 2d mortgage, gold (issued for incomes) .......... o I --- .... 1876 .... 1883 .... 1881-4 .... 1886-9 .... 1889 .... 1889 .... .... i877 .63 1881 8 i873 26 26 37 63 73 73 1875 1883 1886 1890 1889 1890 $5,000 $1,000,000 9,900,000 1,000 1,175,000 1,000 6,600,000 1,000 1,000 2,932,000 5,000 3,000,000 50 20,000,000 1,543,000 1,000 1,ogg 19,467,000 2,000,000 500 180,500 1,000 88,000 158,500 500 &c. 1,000,000 500 &c. 233,000 1,000 1,500,000 1,000 1,000 250,000 160 160 1881 1888 1884 1,000 1.000 1,000 100 100 1,000 1,000 1,000 100 &o. 500 &o. 1,000 1,000 1,000 1,000 "47 ilo 135 238 202 342 202 202 20 20 .... isso 1880 1886 1879 1888 1890 1890 1881 1881 3,000,000 360,000 925,000 1,500,000 8,400,000 1,287,000 1,470,000 2,088,000 1,000,000 500,000 8,103,000 4,000,000 1,495,000 1,499,000 5 i12g. 4 4 g. Phila., Co.'s Office. J. & J. J. & D. Phila.,Provid'tL.&T.Co. Quar'ly. do do Q.-F. Phila., 8. Dep. & Ins. Co. M. & 8. Phila., Gir'd Life &c. Co. M. & 8. Phila., 233 So. 4th St. t10 . . . . . Pittsburg, Co.'s Office. Q.-J. Phila., Tr. 8. D. & I. Co. 6 412g. J. & J. N. Y., Nat'l City Bank. 212 J. & J. Phila., Guar. Trust Co. 7 Philad;05 8. Fo3;;th St. 6 A. & O. Phila., Guar. Trust Co. 6 do do 6 J. & J. do do J. & J. 5 6 g. J. & J. (uly,'90, coup. last paid do do 6 g. J. & J. Jan. 1, 1901 June 1, 1913 1892 to 189.S 1892 to 1899 Sept. 1, 1914 Mar.1, 1909 For 1883 July 5, 1907 July 1, 1921 Jan. 9, 189!1 July 1, 1893 Aug. 1, 1905 Apr. 1, 1913 Jan. 1, 1927 Jan. 1, 1930 Jan. 1, 1939 Jan. 1, 1910 i Aug. 1, 1921 Feb. 1, 1928 Apr. 1, 1894 Feb., 1892 ft. %i_: g. 6 4 ..6.g. 6 g. 5 g. 7 5 g. 4 4 6 g. 412g. F. & A. N. Y., 23 Nassau Street. F. & A., do do do do A. & 0. F. & A. N.Y. ,Ch.R.I. & Pao. RR. J ...&.. J . N. Y., Central Trust Co. do do M.& 8. do do M.&N. J. & J. N. Y., Drexel, M. & Co. do do Q.-J. do do A. & 0. April 1 N. Y., when earned. Q.-F. N. Y., Central Trust Co. M. & N. do do Jan:· i·,· -i920 Sept. 1, 1920 Nov. 1, 1926 Jan. 1, 1900 Apr. 1, 1938 Apr. 1, 1940 Apr. 1, 1990 Feb. 1, 1921 Feb. 1, 1921 July 1; on registered bonds quarterly, March 15, &c. Interest on \ 1890, 5 per cent; in 1891, 5; in 1892, Jan., 212. Of the $1,660,000 oonsolidated 5s of 1879 is payable on coupon bonds March 1 and Sep- general mortgage bonas authorized, sufficient are held to retire the lember 1; on registered bonds, quarterly, March 1, &c. prior issues, when due. Five per cent car trusts due 1891 to 1900, $423,The collateral trust loan of 1883 is secured by the deposit of mortgage 000, 4lue $50,000 yearly on March 1. In April, 1891, it was voted to inbonds of subsidiary lines to the par value of $12,500,000. crease the stock from $1,660,000 to $2,000,000,1. for double-tracking, &e. The equipment trust bonds of 1889 have a sinking fund of 5 per cent Gross earnings in 1890, $809,042 ; net, :i,250,388 ; surplus over yearly, and if bonds cannot be bought at par the sum is to be mvested interest, $144,320. E. J. Berwind, Pres't, Philadelphia.-(V. 50, p. 37.) In new equipment to be subject to the trust. Pennsylvania Pou"'hkeepsle & Boston.-Owns from SlatingOPERATIONS, FINANCES, &c.-The total cost to the Pennsrlvania R91il- ton, Pa. to New Jersey and New York State line, about 73 miles. Conroad Company of the stocks and bonds of other compames held in its nects wlth lines running to the Poughkeepsie Bridge. Completed in treasury was, up to January 11 ;1891, $113,183,734 (par value of the November, 1889. Trustee of 1st mortgage of 1889 is the Holland Trust. same, $150,993,328), !fiOBt of wmoh is represented on the other side of Co. Interest was defaulted tJanuary 1, 1891, and in February1 H. H~ the balance s~eet by issues of Pennsylvania Railroad stock and bonds Kingston, of Philadelphia, was made receiver. Receiver's certiflcate8 and other debit items. . tor $200,000 have been issued to pay off oar trusts. Stock authorized Its guaranteed securities are bought up by the Pennsylvania Railroad $2,000,000; outstanding, $1,750,000; par, $50. Floating debt Jan. 1., Company with 1 per cent of the net income yearly1 and $7,125,050 so 1891, $1,283,375. In .January, 1892, reported as leased to Philadelpurohased were held on January 1, 1891. The sinking fund for consols phia & Reading. In 1890-91 gross earnings were $147,989; defici~ ~anuary 1,. 1891, held-Consols, $1,771,980; real estate mortgages, under operating expenses, $36,804. President, W. w. Gibos, 411 e2,093,900; cash, $29,813. . Walnut Street, Philadelphia. (V. 50, p. 353, 423; V. 51, p. 609; V. 52. From January 1 to Nov. 30, 1891 (11 months), gross earnings on p 351· v 53 p 641) llnes east of Pittsburg and Erie were $61,630,010, against $60,89t>,939 · ' · ' · · Fl to Ri J · in 1890; net, $19,916,688, against $19 625,595 in 1890. For same Pe~sacola & Atlantlc~-~ell:saco1a, _a., ver unction, Fla., periods on lines west of Pittsburg and Erie gross earnings in 189l 160 miles. Operated by ~msville & Nashvillf'. Stock, $3,000,000 (par 11howed a decrease of $810,558 compared with 1890 and the net earn- $100), $1,556,300 of which, and $1,000,000 first mortgage bonds, all tngis an increase of $789,265,. See v. 53, p. 267. the seco_n~ and $925,0o_o land grant bonds v- ere on June 30, 1890, held The report for 1890 was in the CHRONICLE, v. 52, p. 371, 389, 392. A by Lom~ville & NashV1ll~, the first mortga,f~ bonds and $1,550,000 summary of the total business of 1889 compared with previous years stock bemg pledged under its 10--40 mortgat:,e, 11-10 per cent of first 18 shown in the following. ' ' mortgage bonds may be drawn annually at 110. Land grant unsold · June 30, 1890, 1,421,920 acres; sales in 1889-90, 33,054 acres for EARNINGS ON ALL LINES BOTH EAST AND WEST OF PITTSBURG & ERIE. $33,395. In 1890-91 gross earnings were $366,998; net, $47,741; inoo. 1888. 1889. 1890. terest, $200,979; taxes, $36,754; deficit, $189,991. Gross earnings ............. $116,509,293 $122,917,337 $133,521,623 Peoria &; Bureau Valley .-Owns from Bureau Junction to PeoOperating expenses........ 80,737,336 83,811,128 92,003,365 ria, Ill., 47 miles. The road was leased in perpetuity April 14, 1854, to the Chicago & Rock Island Railroad at a rental of $125,000 per annum.. Net earnings........... $35,771,957 $39,106,209 $41,518,258 Peoria Decatur & Evansville.-( See Map Evansville cf Terre The income account has been as follows, the "net income" given in Haute.J-Owns from Pekin to Evansville, 235 miles; branen, 6 miles; the first line being the amount of income after deducting interest pay- leases, Pekin, Ill., to Peoria, Ill., 10 miles; through Decatur, 3 miles;: ments. total, 254 miles. This road is a consolidation of the Pekin Lincoln & . INOOME ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY. Decatur Railroad and the Decatur Mattoon & Southern and the Gray1888. 1889. 1890, ville & Mattoon. It is operated in harmony with the Evansville & Terre, $ $ $ Haute. The 1st mortgage bondholders have the right to cast ten voteia. 9,979,299 10,870,351 11,030,401 for each of their bonds at stockholders' meetings; From July 1, 1891. Net income Penn. RR. Div'n -160,501 +138,712 +396,885 to Aug. 31, 1891 (2 months), gross earnings on 254 miles were $152,· Net loss or gain on N. J. Div. 9,637 16,316 1,644 468, against $140,350 m 1890. Loss on Pitts. & Erie Div ..• Report for year ending June 30, 1891, in V. 53, p. 711. Gross earn• 11,425,642 ings $833,467; net, $363,554; total fixed charges and taxes, $377,081;. Ba.lance .. _............. . 9,809,161 10,992,747 deficit, $13,526, against a deficit of $25,240 in 1889-90. (V. 51, p. 570,. Prom this balance deduct679; v. 53, p. 711.) Advances to Penn. Co ..... . 1,020,000 ·oa:498 Peoria & Eastern.-Owns from Pekin Ill., to Indianapolis, Ind.,. Payments to trust fund .... . ·s1:4ss 71,121 324,800 202 miles, and has a lien of $5,000,000 on Springfield Division, InConsol. mortgage redeemed. 324,800 324,800 119,005 dianapolls to Springfield, 140 miles. This road is operated by Cleveland Allegh.Val.Rll.Co.-Defio'y. 160,179 100,730 CinclilllatJ Chicago & St. Louis. Penn. Canal on acc't of int. 188,510 The Ohio Indiana & Western was sold in foreclosure February 20. Am.88.Co.-To meetint.guar ·00:000 45,000 ....... . 1890, and reorganized per plan. in CHRONICLE, V. 49.t p. 616. Its suoExtraordinary expenses ..•. 1,161,547 1,530,913 1,632,024 oessor, the Peoria & Eastern, is leased till April 1, 1~40, to the Cleve- . land Cincinnati Chicago & St. Louis, which guarantees the interest, but 2,768,198 2,336,835 2,169,327 Balance to credit of income 7,040,963 ~655,912 9,256,315 not the principal, of the first consols, and owns one-half the $10,000,000 Dividends .................. . (5) 5,327,270 (5) o,327,270(512)6,241,873 stock, par $100. If the Peoria & Ea.stem's earnings added to the net income (up to $200,000) over operating expenses of the Springfield Divt3,014,442 sion of the Ohio Indiana & Western exceed the sums necessary to To credit of profit and loss. 3,328,642 1,713,693 pay the Peoria & Eastern's fixed charges and to reimburse the Big FoUl" Bal.in seVm't of claims, &o. -93,272 +119,370 1,064:704 for all advances up to that time, the surplus is to go to the second conExpenses of floods June,'89. -2,609,325 solidated incomes, and then if a surplus remains this is to go to th& Balance...... .... .. . .. . . 1,620,421 838,687 1,949,738 Peoria & Eastern itself. The consolidi:rted mortgage of 1890 covers, be-. B&l. profit and loss Dec. 31. 19,229,369 20,068,055 22,017,794 sides the road owned, the $5,000.zOOO purchaRemoneylienon the SpringDivision. See abstracts or the coni:;ulldated mortga~e and of tli& -(V. 51, p. 876; V. 52, p. 322,371,389,392,479,498,681; V. 53, p. field consolidated income mortgage in V. 51, p. 246, and of Ohio Indiana & 107, 267, 713.) Western mortgage, V. 47, p. 201. From July. l to Sept. 30, 1891 (~ Pennsylvania Company.-The Penn~lvania OomJ!.any is a, cor- months), gross earnings were$506,255, against $372,746 in 1890; net poration cllartered by the-Pennsylvania Le slature, April 7, 1870, dis- $151,382, a~inst $69,111. In year ending June 30, 1891, $1,495,317.: tinct from the Pennsylvania Railroad, an it operates all the leased net, $301,932; interest, $420,850; rentals, $43,007; deficit, $161,924L lines west of Pittsburg. Its stock ana $2,500,000 412 per cents are -(V. 51, p. 246; V. 53. p. 324 ) owned by the Pennsylvania Railroad Company. Besides the bonds Peoria & Pekin Unlon.-Owns from Pekin to P~oria, 10 miles oi. given above a.a outstanding $1,657,000 of 6s and $533,000 of 412s are each side of Illinois River; total operated 20 miles. The road is a unioa liP-ld bl the sinking fund. road, and the stock of $1,000,000 was taken by the different Peoria RR.. The 6 per cent bonds are secured by deposit of $4,000 000 of Pitts- oompa,nles, and they pay a rental 'for ~he ~se of the road and ~lso pa_y burg Fort Wayne & Chicago special stock. The gold bonds of 1921 are terminal charges. See full description m V. 36.L p. 253. Dividenw. se011red by a dtsposit in trust of the leases of the Pittsburg Fort Wayne in 1891, July, 2 per cent. See V. 53, p. 22. Heoeipts in 1889-90,. & Chica.go and the Cleveland & Pittsburg railroads and ,i,re also guar- $299,458; net. $22,920; rentals leased_ro~ds, $147,212; other inoome,. anteed by the Pennsylvania Railroad Company, the trustees of the $15,993 ; total revenue, $186,125; paid mterest on bonds, $157,155._ lnortgage heing Wistar Morris, John P. Green ~nd Henry D. Welsh. The whole number of miles operated or controlled by this company is -~~:~i!~;~.-Owns from Perkiomen Junction, Pa., to Emaus Junc3,496. The income account has shown the following results after pay- tion, PR., 39 miles. Stook subscription, $38,040. Reorganized in 1887 ment of all charges: deficit in 1884 of $710,220; deficit in 1885 of There is due Philadelphia. & Reading RR. on loan account upwards o:t fl,094,671: deficit in 1886 of $200,674; in 1887, net profit, $675,516; $900 000. In year ending November 30, 1891, gross earnings were1n 1888, loss, $74,891; in 1889, net profit, $727,802; in 1890, net $269;393; net, $101,324; interest, $96,230; surplus, $5,641, profit, $1,081,960. (V. 50, p. 590; v. 53, p. 21.) Petersburg.-Owns Petersburg, Va., to Garysburg, N. C., 59 miles;. Pennsylvania & Northwestern.-Owns Bellwood, Pa.., to rents Garysbur~ to Weldon (Seaboard & Roanoke), 2 miles; total, 61 Irvona, Pa., 26 miles, and Irvona to Horatio, Pa., 37 miles; total, in- miles. Reorgamzed in 1877 without foreclosure. From July 1, J 891, to Nov. 30, 1891 (5 months), gross earnings cluding other branclles, 71 miles. A consolidation January 1, 1890, of the Bells Gap and Clearfield & Jefferson roads. Dividends have been-i'n were$197,393, agamst $20:l,529 in 1890: n_et, $95,583, against $74,166A https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis L . MAP OF THE "· f;;..--< ~qw PHILADELPHIA & READING -~r RAIL RO AD ~ ~ I AND ITS CONNECTIONS. tz ~ rn 1-3 0 ~ ~ rn 0 i ~ ~ -.,e,.sbu,. 8 "' euRa https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ ~ t"4 ~ ..fANAURY, 1891.] RAILROAD STOOKS AND BONDS. l07 Subscribers ~ l l comer a great Cavor by giving lnunedlate notice oC any error discovered In these Tables. Bonds Princi INTEREST OR DIVIDENDS. l Miles Date Size, or Amount RAILROADS. pal, When Due. of ~or explanation of column headinga, &c., see notes of Stocks-Last by and Payable, Where I When ' f.er Rate Road. Bonds v~f~e. Outstanding Cen . Payable on first page of ta})les. Whom. Dividend. I I Perlciomen-IstM., ser. I (1st l'n) gu. by P.&Rdg.c~ 1st M., ser. 2 (2d l'n) g., guar. by P. & R. (en .) .c* .Petersburg-Stock ............ ..... . .................. Guar. pref. stock, 3 per cent, lien prior to mortg. J..st mort. (payable $25,000, due yearly Jan. l)C<t.r Mort. bonds, class A,$200,000 reserved for 1st M. Mortga~ bonds, class B . .................... . ..... Philadelp ia cl: Baltimore Central-Stock ....... . ... Gen.M. (N ewlst M.)for $2,500,000,$1,075,000 412s Phila. cl: Erie-Sunb. & E. 1st mort. (ext. in '77) .c&r . Gen. M., g.,guar.byPa.RR.($5,263,000 g., 5s).c&r General mort~ge, gold, f.uar ..................... r .Phifa. Germ. cl: C estnutHil -1st M., gu. by Pa. RR.r .Phi a. Germ. cJ:Norrist'n-St'k 12 p.c.rent.,P.&R.RR. Phila.Harrisburg cl: Pittsburg-1st M.for $2,000,000 Philadelphia cl: Reading-Stock .... ............•••... 1st mortgage, $ and £ ............................ c Mortgage loans of 1844, 1848 and 1849 .......... c "Mortgage loan of 1857 convertible............... c Mortgage loan of 1868 . . ........ .. .. . ............. c Consol. mort. ($8,162,000 are gold 6s) . . ........ . c Impr'tM., g.,s.f. drawn at 100. See V. 48, p.260.c Consol. M. of 1882, stamped (payable at notice) ,c~ General mortgar;e, gold ($100,000,000) ...... c*&r 'Terminal M., go d, gu. by P. & R. Term. RR.... c* .10-yr. s. fd. loan, g. (coal land morts. collat) .. . . c* J.st pref. inc. M., not cum. ($24,400,000) gold... c* .2d pref. inc. M., not cum. ($22,500,000) gold ... c* :ad pref. inc. M., not cum. ($5,~41,000 conv.) g . . c* Deferred incomes (coming after stock) ............ Collateral trust bonds (for $10,000,000) ... . ...... 38 38 59 1887 100 &c. 1,000 1888 100 100 i869 500 &c. 1881 ...... 1881 · ·50 ..... 1,000 1881 1,000 1857 1,000 1869 1,000 1869 1883 1,000 ..... 50 1,000 1890 .... 50 1843· $&£ 1844-9 1,000 1857 500 &c. 1,000 1868 1871 200 &c. 1,000 1873 1882 500&c. 1888 l,000&c 1.000 1891 1,000 1892 1,000 1888 1,000 1888 1,000 1888 ---· ---59 59 59 79 79 40 287 287 7 29 ---· .... ··-..... .... ..... .... ---· 327 ..... 327 327 S27 .... .... i892 . .... 5 g. Q.-J. Philadra. Co. ~~ on L. $799,600 5 g. Q.-J. 1,125,000 Richmond. 960,800 J. & J. 3 do 323,500 112 J. & J. 155,000 J. & J. Richm'd & Petersb'g,Va. 8 J. & J. do do 693,000 5 do do A. & 0. 800,000 6 2,495,650 iiR. Co. 2,075,000 412.& 5 M:·&;·N. Phila.; A. & 0. Phila., Penn. RR. Co. 976,000 7 13,943,000 5 g.&6g. See rem. Phil., Pa. RR. & London. 4 g. A. & O. Phila°i,Penn. RR. Co. 4,755,000 1,000,000 412 M.&N. Phila., enn. RR. Office. Phila., Treaslll'er of Co. 2,231,900 3 (1) 5 g. A\01'f5 Phila., Comp'y's office. ...... 39,488,362 1,512,700 J. ..&.. J . Philadelphia & London. 6 J. & J. Philacic?f., 227 s<i!th st. 954,000 6 79,000 412 J. & J. do do 2,700,000 A. & 0. 7 do do 18,811,000 6 g. &7 J. & D. d-0 do !I 364,000 6 g. A. & O. do do 5,767,042 5 g. M.&N. do 4 g. J. & J. do 38,104,658 5 g. Q.-F. Philad Prov. Life & Tr. 4,000,000 do o 5 g. F. & A. 2,000,000 5 g. Feb. 1 3s per ct. paid in 1890 23,971,000 5 g. Feb. I 5 p. ct. paid. Feb., 1892 16,176,326 18,681,567 g. Feb. 1 418 p. ct. paid Feb., 1892 ..... 7,670,427 Peii;i: g . ...... ..... I .... ····'" :::::::::: Jan. 1, 1918 Jan. 1, 1918 Jan., 1892 Jan., 1892 Jan., 1893-'98 July 1, 1926 Oct. 1, 1926 Nov.""i,..i9u Oct. 1, 1897 July 1, 1920 July 1, 1920 May 1, 1913 Dec. 4, 1891 Oct. 15, 1925 July;ii:iio July, 1910 July, 1910 Oct. 1, 1893 June 1, 1911 Oct. 1, 1897 May 1, 1922 Jan. 1, 1958 May 1, 1941 Feb. 1, 1902 Jan. 1, 1958 .Jan. 1, 1958 Jan. 1, 1958 I Irr~~~.~~~ble Price of stock in New York-In 1883, 46141il611s; in 1884, 16 7a "In year endm~ June 30, 1891,_ gross earnings were $527,644; net, $193.794. In 1889-90, gross, lf>4,98,918; net, $187,455. (V. 50, p. @6058; in 1885, 131il26; in 1886, 1812w73 7s; in 1887, 341il713'; in 1888, 4412'nlR9; in 1889, 361il50 in1890, 2614@4812; in 1891, 2ePs@43~; .312; v. 53, p. 879.) in 1892, to Jan. 22, inclusive, 38@42 7sThe consolidated 5s of 1882 are payable at par at any time. Phlladelphla & Baltimore Central.-Philadelphia to WestCompany guarantee~ $2,000,000 bonds of the Philadelphia. Harrischester, 26 miles; West.chester Jup.ction to Octoraro, Md., ~6 miles; leased Chester Creek Railroad, 7 miles; total operated, 79 miles. Th!3 burg & Pittsburg-which see. The general, an<l first, second and third preference income mortgages .Philadelphia Wilmington & Baltimore Railroad holds v.ractically all the $2,495,650 stock, and operates the road as part of its system. In (trustee of all, Pennsylvania Company for Insurance on Lives, etc. 1 of .J.890·91 11:ross earnings, lj,972,014; net, $206,448; slll'plus above Philadelphia) cover in addition to the 327 miles of road owned_ the title to leased lines (mostly leased for 999 years) all real estate, rolling stock charges, $54,206. and vessels of the company, $8,000,000 Philadelphia & Reading Coal & Phlladelphla & Erle.-Owns from Sunhury to Erie, 287 miles. Iron Company stock, as well as the real estate of that company, aml Formerly Sunbury & Erie Railroad. It is leased to Pennsylvania Rail- subject to a mortgage to Philadelphia & Reading Railroad Company road for 999 years, and actual net receipts are paid as rental. The gen- dated July 1, 1874, stock in other coal and iron companies. An aberal mortgage is guaranteed by the Pennsylvania Railroad, and the in- stract of the general mortgage was in the CHRONICLE, V. 46, p. 679, and terest on the 6s is paid J. & J., on the 5 per cents A. & O. The Pennsyl- of the preference income mortgages in V. 47, p. 141 and 142. The .-a.nia Railroad Company owned December 31, 1890, $3,501,800 com- third preference convertible bonds were issue~ in exchange for the ~ld mon and $2,400,000 preferred stock and $4,143,000 general mortgage convertible 7 per cents. They are stamped with an agreement making bonds, and the city of Philadelphla (sinking fund) $2,250,000 common them convertible at option of holder into common stock. See V. 50, stock. Capital stock-Common, $7,975,000; preferred 7 per cent, p. 276. · -$2,4.00,000; par, $50. Net earnings are defined in the income mo~gages as the pro~ts of the From January 1 to Nov. 30, 1891 (11 months), gross earnings were railroad company for each fl.seal year ending Nov. 30 derived from -$4,782,504. agst. $4,755,781 in 1890; net, $1,731,204, agst. $1,6:<11,300. all sources, after paying operatin~ expenses, taxes and existing rentals, The report for 1890 in CHRONICLE, V. 52, p. 278, showed gross earn- guarantees and interest charges (out not fixed charges of the same sort ings, $5,113,787; net, $1,698,192; surplus over fixed charges and 7 per subsequently created) ; also, after deducting expen es o.r "renewing, -0ent on preferred stock, $322,356. (V. 50, p. 274; V. 52, p. 278.) replacmg and repairing its said property and premises, including such reasonable improvements thereof and additions thereto as shall be neoPhlladelphia GerJDanto·w n & Chestnut HUJ.-In Philadel essary for the safe, proper and economical operation of the same." p,hia from Germantown Junction, on Connecting Railway, to Chestnut (V. 47, p. 256.) Hill, 7 miles. From May 1, 1883, leased for 30 years to the PennsylIn February, 1889, the first and second preference bonds received full varua. Railroad Company, which guarantees 412 per cent on the bonds. interest, and the third 212 per cent. In 1890 only 3s of 1 per cent was Rental, net earnings. Pennsylvania Railroad owns $999,750 of paid on the first incomes; in Feb., 1891, nil; in Feb., 1892, 5 per cent the $1,000,000 stock (par, $50). Gross earnings in 1890, $240,407; net, on firsts and 418 p. ct. on seconds. over expenses and taxes, $62,317 (against $67,382) ; interest, $45,000. The $8,500,000 bonds for the construction of the P. & R. Terminal RR. are the Reading's own bonds, and are guaranteed by the P. & R. Phlladelphla Gerrnantow-n & N orrlstow-n.-Philadelphia, Terminal RR. Co. They are also secured by a mortgage upon all the Pa., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles; Ply- property of the Termi~al Company and by a.traffic conti:act bet:ween mouth RR., 9 miles; other, 4 miles; total, 34 miles. Leased November Reading and the Termmal Co. J'he trustee 1B the Provident Life & 10, 1870, to Philadelphia & Reading Raih·oad for 999 years at a rental Trust Co. of Philadelphia. See V. 53, p. 391. of $269,623 and $8,000 yearly for organization expenses. Dividends of The ten-year sinking fund loan due 1902 is secured by $2,196,000 12 per cent per annum are paid regularly. Stock, $2,246,000-par, $50. coal land mortgage bonds deposited with the Penn. Co. for Insurance, &c., the trustee. Phlladelpllla Harrisburg & Plttsburg.-Owns from Harris· Of the collateral trust bonds of 1892 the President's report said: burg, Pa., to Shippensburg, on the Western Maryland Railroad, 40 miles, "Arrangements have been completed for making provision for all with branches, 1 mile. Opened in April, 1891, and leased for 999 years necessary betterments, new equi~ment and additional property which to the Philadelphia & Reading, which guarantees the bonds. Trustee will be hereafter required, by an issue of $10,000,000 collateral trust -of the mortgage is the Pennsylvania company for Insurance on Lives, bonds, bearing 5 per cent interest, which are unused and unpledged, etc.-(V. 51, p. 383, 459; V. 52, p. 124, 643.) and the proceeds will be expended only for the impro_vement of and additions to the present mortgaged estates. All new lines and extenPhlladelphla & Reading.-( See Map}-LINE OF ROAD-Owns sions will either be of sufficient importance to provide the necessary main line, Philadelphia to Mount Carbon, Pa., 98 miles; branches funds independently, or their promotion will not ~e undertaken by the owned, 229 miles ; leased lines, 549 miles; roads controlled, 231 miles; company. Within six years, and before the maturity o! thjs loan, there total operated November, 1890, 1,106 miles. liberated under the plan of reorgaruzat10n an equal have will In November, 1890, the Port Reading Railroad was organized in the amount of been mortgage 4s, applicable to these plll'poses under the general to Brook Bound from road of miles 20 build to company interest of this * "In this connection it is proper to add that the * * mortgage." . Staten Island Sound (near New York), where extensive terminals will oompany owns stocks and bonds of the par value of $40,683,050, repbe established. See V. 51, p. 681; V. 52, p. 124. resented in the balance sheet at a cost of $22,669,000. A fair cash ORGANIZATION, LEASES, &c.-The Philadelphia & Reading Company value of these securities e x ceeds $20,000,000. This does not include was chartered April 4, 1833. Itleases a number of roads in Pennsylvania; any of the issue of securities of the Coal & Iron Co." The fiscal year ends November 30; the report for 1890-91 in V. 54, p also, the North Pennsylvania Railroad and Delaware & Bound Brook, torming the line from Philadelphia to New York, and controls Reading 118, showed the following: & Columbia. The fiscal year ends November 30. The annual election EARNINGS A.ND EXPENSES, is held the second Monday in January. In May, 1880, receivers were appointed and held possession till May, 1883. In June, 1884, the company again went into recei vera' hands, 1889-90. 1890-91. 1888-89. and so remained till January, 1888. $ $ $ RailroadIn February, 1886, the Drexel-Morgan syndicate was formed and the 3,898,291 3,639,546 . ......... traffic Passenger plan of reorganization was published at length, as modified, in the 9,305,536 8,954,004 . ............. .. traffic Coal · 747). p. 43, (V. 747 p. on 1886, 18, CHRONICLE of December 7,210,380 5,938,976 Under the reorganization agreement the right to vote on stock is Merchandise traffic ...... . 448,480 420,448 vested in five trustees, these mcluding J. Lowber Welsh, J. Pierpont Miscellaneous ............ . 71,830 65,640 United States mail ....... . Morgan and John Wanamaker, till August 1, 1892. bds., & stks. from Income · The Philadelphia & R eading Coal & Iron Company is a corporation 1,231,963 1,518,761 from steam colliers, &c . formed (Dec. 12, 1871,) for the purpose of owning and working the extensive coal properties of thiR compauy The Philadelphia & Reading ~~_166,450 23,111,109 20.537,375 Total earn' gs RR. Co .. . RR. Co. owns all the stock ($8,000,000) of the Coa l & Iron po., and had 13,176,631 rn.9vl,188 12,39~,706 invested in it N O"\;~mber 30, 1890 (as per balance sheet), $72,617,301 Operating expenses ..... . over liabilities. The.. estates of the company aggregate upwards of 9,934,478 8,265,262 8,140,669 Net earnings RR. Co .. , 194,000 acres, classifie9-, as follows : . 482,665 df.l'H,158 df.147,850 Net earning3 C. & I. Co ... . Coalla nds owned (a!cre ). ·.. . ... . .... .. ..... : .. :·. • ~ ........ 9 5,144 3,114,104 10,41?:,143 7,992,819 Total net both Co's ... . Coal lands leased .from others (a cres).................... 7,429 ---102 573 ' .. - . " Deduct2,830,74( . 2,838,351 2,842,319 ·• Timber Jands , ·owned (aci·es) . ..... '. .......•............ ~ ...... . ... 70'.489 Rentals RR. Co ........... . 4,p02,882 4,351,312 4,085,139 , .Irqn,ore lands (acre.s) ...... . ... ,-.,....... .• •.• . . . . ...• •. . . • . . . . . . . . . . . 21,000 Interest RR. Co . ..........• 822,126 , 815,526 826,523 Interest Coal & Iron Co . . . 395,423 340,107 354,084 ~ ·. Total area ·(acres) .. .... . , .............••....•.• : ....•...•.•.... ·.. 194,062 Sinking fund Coar & I. Co .. STPCK AND BONDS.-The 'dividends paid on Philadelphia & R eadin~ 8,552,182 8,344,289 8,108,065 deductions....... Total 11tockfrom 1 870 to 1875, inclusive, were 10 per cent eaoh year.; in_187t> . _ .... .212 per cent was paid and nothing since, ___ -~ _ _ Balance, both companies. def. $115,246 def.$230,185sur.$1,864,961 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. 108 [VOL. LIV•. Subscribers -will conCer a great Cavor by giving; Immediate notice oC any error discovered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Philadel1>hia ct Readinl:-( Continued. JCar trust, Series A, 100,000 due each F. & A .o* Car trust, Series B, $51,000 due each M. & S ... . o~ Car trust, Series C, 130,000 due Q.-M .. . ..•.... o* Car trust, Series D, 75,000 due Q.-F .....•.... c* Equipment notes for $3,000,000 ... . ......... . .... Mo~a~ee on real estate . . ........... . ......... .... P. & . oal&I. purchase money & real estate M. Phila. " Reading Terminal.-See Philadelphia & Phila. ct Trenton-Stock 10 p. o. rental, Penn. RR .. Miles Date Size, or of of Par Road. Bonds Value. --- .... .... .... .... .. .. .... Iieadi 39 .... P~f=wt~gs~~~i.~~~~~. ~ ~~~~~~~~~~~~.~~::::: .... Plain bonds, s. fund$16,000 yea rly,notdrawn . . r .... Pla.in. bonds, a. fund $20,000 yearly, not drawn . . r .. ... Plain bonds . ..•..... . .................. . ....... . .. . r .... Plain bonds..... . .... . .............. .. .......... . .. r .... Plain bonds .......•.••....... . ......... .. ..... . .. . . r Piedmont & Cumberland-1st mortgage, 01d . ... o* ·29 Pine Creek-1st mortgage, guar. prm. an int ..... r 75 Pittsburg Akron" W.-lst M. for $3,630,000, f·• o* 105 Pittsburg Cincinnati Chicago & St. Louis-Pre ..... ~ Chio. &Gt. East. 1st M. (Obie. to Lognsport) •. o• iii ol. & Ind. Cent. 1st M. (Colum. to d. & br.) . c* 187 ol. & Indianapolis Central 2d mort~e . .... c* 208 Union & Lo ansp'tlstM.(U'nCityto gans.)c* 93 c. St. L. & ':11tts. cons. M. ($22,000,000) .. . ... . o* 580 Cincinnati Richmond & Chicag:> lat mortgage .. . . 36 Jeft'nvilleMad.&In.lstM. (s.f.$15,000dr'Ji at llO)o 222 2d mortgage ........... . ... . . . .......... •........ o 222 1 Hollidaz's Cove Railroad 1st mort~l~t .. .. -· .... O Bteub. Ind., 1st mortgage, exten e in 1884 ... r 116 Pitu!. C. & St. L., 1st consol. mortgage .....•. . . o&r 213 Pitu!. Cin. Chio. & St. L. consol. M., Series A, g . . c* 1,080 :r 8 1883 $1,000 1884 1,000 1887 1,000 1890 1,000 1891 . ... '72-;84 500.&c. ng. .... 100 50 1872·4 1,000 1875 1,000 1880 1,000 1887 1,000 1887 1,000 1891 1,000 1886 1,000 1885 1,000 1890 1,000 100 1863-5 1,000 1864 1,000 1864 1,000 1865 1,000 1883 1,000 1866 1.000 1866 1,000 1870 1,000 1863 1,000 1864 1,000 1868 1,000 1890 1,000 INTEREST OR DIVIDENDS. Bonds-Prlnotpal,WhenDue. 0 ~~~g Rate per When Where Payable, and by Stocks-Lasi Cent. $300,000 306,000 690,000 2,319,000 (1) Payable Whom. Dividend. 6 F. & A. Phila.t Union Trust Co. $200,000 y'rl,M. & S. no do 102,000 y'rly 6 5 Q.-M. Ph!la., Fidepty. Tr. Co. 120,000 Y,'rly 5 g.- Q.-F. Phila., Prov t Life & Tr. 300,000y r "$ (1) 2,175,075 12,230,106 5, 6 .& 7 Various Phila., Of., 227 8. 4th Bt. 189~i 1,259,100 11,819,350 700,000 800,000 1,000,000 1,000,000 1,000,000 1,000,000 650,000 3,500,000 2,450,000 22,326,338 223,000 2,631,000 780,000 715,000 15,131,000 552,000 2,480,000 1,995,000 120,000 3,000,000 6,863,000 6,818,000 212 t 6 5 4 4 4· 5 g. 6 g. 5 g. 2 7 7 7 7 5 g. 7 7 7 6 5 7 4½ g. Q.-J. Phila., Company's Office Philad:33 S. Fod~-th St. A. & 0. Phil.Of.;Bost.,.Kid.Peab J. & D. do do A. & 0. do do M. & N. Phila., 233.S.FourthSt. J. & J. do die> F. & A. New York & Baltimore. J. & D. N. Y. Gd. Cent. Station. A. & 0. New York. .... . N.Y.,Farmers' L'n&Tr. A. & O. N. Y., Union T.rust Co. J. & J. do do M. & N. do do A. & 0. do do A. & 0. do do J. & J. do do A. & O. N. Y., Farm. L. & Tr. Co. J. & J. do do F. & A. Phila., Penn. RR. Office. J. & J. N. Y., Nat'l City Bank. F. & A. Phila., Penn. RR. Office. A. & 0. Farmers' Loan & Tr. Co. i:_ i t: t<>i904 Jan., 1892' Jan. 2, 189Z Oct. 1, 1892 Apr. 1, 1900 June 1, 1910 Apr. 1, 1917 Nov. 1, 1922 Jall. 1, 1926 Aug. 1, 1911 Dee. 1, 193!.l Apr. 1, 1940 Nov. 20, 1891 1893 & 189~ Nov., 1904 Nov., 1904 Dec., 1905 Oct. 1, 1932 July 1, 1895 Oct. 1, 1906 July 1, 1910 Feb. 1, 1893 Jan. 1, 1914 Aug. 1, 1900 Oct. 1, 194 t- The following table shows traffic and joint earnings for eight years, ORGANIZATION, &c.-This company was formed in 1890 by consolida excluding the \msiness under Central Railroad of New Jersey lease: tion (per terms in V. 50, p. 875) of the Chicago St. Louis & Pittsburg TRAFFIC .AND EARNINGS OF RAILROAD AND COAL & IRON COMPANIES the Jefferson Madison & Indianapolis, the Cincinnati & Richmond and the Pittsburg Cincinnati & St. Louis. For history of constituent companies see SUPPLEMENTS prior to September, 1890. Controlled by the Ooal carried . Coal from . (tons of M'rc7l:andise lands of 9:oss re- Net e'rnings Pennsylvania Co. through ownership of stock. STOCK AND BONDS.-The stock authorized is: Common, $45,000,000 ;. 2240 lbs.), carril}d one I. Oo., tons ceipts b(!th of both com• preferred, $30,000,000; par, $100. There were to be issued in th& one mile. mile. 2240 lbs. companies. panies. consolidation about $23,000,000 of preferred stock and $21,000,000 of 1883-4. 588,980,525 319,279,871 5,672,684 $37,009,753 $8,950,554 common stock, ln exchange for the stock of the constituent companies 1884-5. 665,018,573 359,526,194 6,040,178 34,343,501 7,926,304 on the followln~ basis: Pittsburg Cincinnati & St. Louis Railway first 1885-6. 727,179,462 398,862,487 6,209,202 35,683,096 7,335,603 and second pref. and common to receive of new preferred $100 for tw~ 1886-7. 835,308,697 444,614,423 6,901,497 41,188,737 12,430,054 shares ($50 each) of old stock; Chicago St. Louis & Pittsburg Railroad 1887-8. 848,257,474 435,904,463 6,732,486 39,638,990 9,677,988 preferred to receive $66 66 new preferred and $33 34 new common for 1888-9. 879,717,468 485,690,228 6,614,127 38,355,601 7,992,819 eaoh $100 share of old stook; Chicago St. Louis & Pitu!burg old com1889-90 976,587,989 591,379,912 7,338,472 41,096.224 8,114.104- mon to be exchanged for new common share for share; Jeffersonville1890-91 . .. . . ... . . . . . . . . . . . ... . . . . . . . ...... . . · • 44,422,843 10,417,143 Madison & Indianapolis Railroad stock to receive $50 new preferred and $50 new common in exchange for each $100 old stock. New com-(V.52,p.98,120, 122,204,351,479,493,571,643,681,796,832, mon stock for $4,600,000 will be given for accumulated and unpaid 974; v. 53, p. 126, 157, 290,391,407, 408, 475,641,793; v. 54, p. 118.) dividends on the first preferred stock of the Pittsburg Cincinnati & St On May 23, 1891, there was outstanding $19,552,420 Phllade]pbla & Reading Termlnal.-This is the company Louis Railway. stock and $22,231,000 of preferred. which will build an elevated railway in Philadelphia to carry the Phila- common The preferred stock is "non-cumulative and entitled to a dividend. lelphia & Reading Railroad into the heart of the city at Twelfth and of 4 per cent per annum out of the net earnings as declared by the Market streets. The Reading has issued its own bonds on the property Board, with the right after 3 per cent has been deolared on the and this company has guaranteed their payment. See Philadelphia & common to an additional 1 per cent, making 5 per cent in all.',. Reading. See V. 52, p. 391. Capital stock, $8,500,000. (V. 51, p. 876; After 5 per cent has been declared in any year on both common and prev. 52, p. 391, 643.) ferred, the two stocks share equally. Philadelphia & Trenton.-Owns from Kensington, Pa. , to MorDividends on preferred: In 1891, May, 1 per cent; Nov., 2 per cent. risville, Pa., 26 miles, and Tioga Bra nch, 1 mile; leases Trenton Bridge Price of common stock: In 1890, 12'1vl4; in 1891, 12½!W29½!; in <Jonnecting Railroad, 7 miles, and Frankford & Holmesburg R ailroad, 4 1892, to Jan. 22 inclusive, 265sW305s. miles; total owned a nd l eased, 39 miles. On D ecember 1, 1871, it was Price of preferred stock: In 1890, 50'1v55; in 1891, 481il68¾; in leased with the United Companies of New Jersey for 999 yea rs to the 1892, to Jan. 22 inclusive, 643s1v67 3s. Pennsrlvania Railroad, at 10 per cont on stock, and is operated as a The Penn. RR.Co. (Jan.1, 1891),owns$6,144,000Ch. St. L.& P. consols,part o its New York division. In 1888 gross earnings were $3,847,440; A consolidated mortgage for $75,000,000 (Farmers' Loan & Trust Co~ net, $2,125,627. of New York and W. N. Jackson trustees) bas been executed, $37,Philadelphia Wilmington & Baltlrnore.-Mileage as follows: 190,000 bonds secured by it being reserved for the prior liens. There are $65,000 Cincinnati Richmond & Chicago matured 2d mortPhiladelphia Wilmington & Baltimore Railroad, 133 miles; Philadelphia & Baltimore Central, 80 miles; D el aware Railroad, 100 miles; Queen gage bonds and $797,315 of 4 and 5 per cent i;ar trusts outstanding. From January 1 to Deo. 31 in 1891 gross earnings showed a decrease Anne & Kent Railroad, 26 miles; D elaware & Chesapeake, 54 miles; (;ambridge & Seaford Railroad, 27 miles; Delaware Maryland & Virfi!?inia of $551,671, and net a decrease of $63,041. Results have been as follows. Bee report in CHRONICLE, V 52, p. 830 Railroad, 98 miles; total operated, 518 miles. Owns practically a the 1889. 1890. stock of the Philadelphia & Baltimore Central. The bonds are all to be Miles operated......... . ..................... 1,144 1,144 secured by any mortga~e which may be issued on the road. From 1868 to 1887, mclusive, dividends of 8 per cent were 12aid; in Gross earnings . .......•... • . __ •..•.. . . _...•.. $13,981,934 $15,452,932' 1888 and 1889, 7; in 1890, 6; in 1891, 6; in 1892, Jan. 4. In April, 1881, Operating expenses ......... --•·••············ 10,458,799 11,465,489 nearly the whole stock was purchased by Pennsylvania Railroad Company, $10,890,950 of it being now held by that company. $3,987,443 Net earnings .. ·-·· · ·····-······· · ··········-$3,523,135 In year ending October 31, 1890, gross earmngs were $6,820,377; Percentage of operating expen. to aarns. .. 74·20 74·62 net, $1,57(!,202; surplus over flxed char~es, $1,020,772; dividends, INCOME ACCOUNT FOR 1890. $709,161. J.n 1890-91 gross earnino-s, $7,194,998; net, $1,901,876; surReceiptsplus above charges, $1,020,981; divi'ciends, $827,354; surplus, $193,627. N et earnings, including other income . . . ................ . $3,991,889' -(V. 52, p. 499.) Net earnings of L. Miami and 6 7 profits of St. L. V. & T. H. 387,185Piedmont & Cumberland.-Road extends from Piedmont, West Total. .....•.. _ ................. ••........... . .. ••.••• $4,379,074 Va., to Cumberland, Md., 29 miles. It connects the West Virginia CenDisbursementstral & Pittsburg RR., by which it is operated, with the Pennsylvania $2,564,390 RR. system, and has a traffic contract guaranteeing 5 per cent of gross Interest on bonds .....•..... ·-····· ...... ···-·-··· .. -··· ... 833,655 earnings to and from this road over the Pennsylvania Railroa d, which Rentals paid . ... . ..... . .. . ... ·- ···· ···--··· · ···-····-···-· · 155,412. Car trusts (includin~ interest) ........ -. . ... . . -......... -. owns $200,000 of the $650,000 _stock (par $50). In 1890, gross, 79,444. Interest on L. Mianu securities transferred ............ . . $176,080; net, $72,116. H. G. DaVIs, President. 71,199' Pine Creek.-Owns from Stokesdale Junction to Newberry June Miscellaneous ..... .... ..... . ..... . .... . .. . ..... . . . .. .. . .. . . tton, Pa., on the Corning Cowanesque & Antrim Road, 75 miles. Oper Total.......... . ... .... .......... .. ........ . ...... . . . ... $3,704,100, ated by the Fall Brook Coal Co. , forming a connection between Phila$674,974. delphia & Reading lines and New York Central ; bonds are gua ran- Balance, surplus...... .. ..... . ... .. . . . . .... .. ... .. ... . .... . teed by these companies and the Co:rning Cowanesque & Antrim, on the -(V. 51, p. 241,715.829; V. 52, p. 204,394,609,643, 830.) condition that guarantors shall advance money for interest if n eeded Pittsburg Cleveland & Toledo.-( See Map of Pittsburg ct West.:.. and take second mortgage bonds for such advances. There are $142,000 ern.J-From Newcastle Junction, Pa., to Akron, 0., 77 miles. Stock,. seconds due in 1932. Stock, $1,000,000; par,$50. 1n 1889-90 lessee's $3,000,000 (par $50), of which Baltimore & Ohio Railroad owns $1,505,report showed ~ross earnings,$770,006; net, $31,809; rent of road, &c., 000. Leased in July, 1884, for 99 years to Pittsburg & Western. The$232,674; defimt, $200,865. Lessors rep.ort in 1889-90: R ental, &c., Baltimore & Ohio guarantees intereAt on the Pittsburg Cleveland & To$211,806; interest, &c., $227,293; deficit, $15,487; total deficit to July ledo bonds (see terms in V. 39, p. 607.): From Jan. 30 to Nov. 3,0 1891,. 1, 1890, $382,739. (11 months), gross earnings were $452,184, against $450,407 in 1890 ;: Plttsburcr Akron & Western.-Operates from Akron, 0., to net, $32,740, against $98,869. In year ending June 30. 1891, gross, Delphos, 165'miles, connecting at Akron with the Pittsburo- & Western. earnings. $460,084; net, $55,530; deficit under interest, $98,133. (V.. Completed in August, 1891. Stock authorized, $4,230,00'o; outstand- 52, p. 795.) ing, $2,500,900; par, $100. (V. 50, p. 314, 835; V. 51, p. 459, 910.) Pittsburg &; Connellsvl.lle.-,.Owns from Pittsblll'g, Pa., to Mt 1 Pittsburg Cincinnati Chicago & St. Louis.-( See Map.)- Savage Junction, Md., 147 miles; branches, 4 miles; leased lines, 22 Owns Pitu!burg, Penn., via Columbus, 0., to Chicago, Ill., 504 miles; miles; total, 173 Iniles. Leased for 50 years from January 1, 1876 (reRendcomb Junction (ne1;1,r Cincinnati) to Anoka Junction, Ind., 169 newable forever), to the Baltimore & Ohio Railroad, which guarantee& miles; Logansport, Ind., to Illinois State Line, 60 Iniles; Bradford the consolidated mortgage of 18,76 and in 1884 issued its !bonds for $10,Junction, 0., to Indianapolis, Ind., 104 miles; Indianapolis to Jefferson- 000,000, secured by pledge of the above second consolidated mortgage. ville (opposite Louisville, Ky.), 109 miles; branches, 138 miles; total Stock is $1,944,400; par,• $50. In year endfng June 30, 1891, gross. owned, 1,085 miles. Trackage: Lake Erie & Western, Indianapolis to earnings of Pittsburg division Balt. & 0. were $2,638,473; net, $893,474.. Kokomo, Ind., 55 miles. Pittsburg . Fort Wayne & C)J.icago.-9.wns from Pittsburg,. Leases: ChaTtiers Railway, 23 miles; Little Miami and dependencies, Cincinnati, 0., to Springfield, 0.;84 miles, and Columbus, O., via Day• Pa., to Chicago, ~11., a;nd bJjl,nch, 4 70 ,milt1s, F ,o;i-ec]o.sed Oct. 24, 1861, anel, ton, to Richmond, Ind., 112 miles; Pittsburg Wheeling & Kentucky, 28 reorganized under ibis title feb. 26, 1862. From July 1, 1869, the commiles; also has ajoint interest with Terre Haute & Indianapolis in the pany leased all its road in p rpetuity t9 the Penn. RR. at a r.e ntal equivaBt. Louis Vandalia & Terre Haute, Indiana State Line to E ast St. Louis, lent to interest, sinking fund o'f' liebt ' and 7 per cent on $19,714,286 stock, which was increased at that time from $11,500 000. The !ea158 miles; total leased, 406 miles. Gru.n.d total, 1,546 miles.1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis c." .= ~ oo.· A z 0 P=l ~ 00. ~ 0 0 E-4 00 A ~ 0 ~ ~ ,...., c;i ~ ..-4 t ..,ij https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PITTSBURGH, CINCINNATI, CHICAGO & ST. LOUIS RAILWAY .. INVESTORS' SUPPLEMENT. 110 [VOL, LIV., Subscribers will conCer a great Cavor by giving hn1nediate notice oC any error discovered In these Tables. RA.ILROA.DS. For explanation of column headings, &c., see notes on first page of tables. Pittsb. Cleve. &Toledo-lstM.,gold,int. guar. B.&O .. Pittsburg & Connellsville-lstmortgage . ........... . Consol. mort., guar. B. & 0. (e.f.£7,200 per year) .. 2d consolidated m~rtgage, gold (pledged) ........ . Pittsb.Ft. Wayne & Ohic.-Stock, 7 p. ct. guar. Pa. RR. Guaranteed special improvement stock .......... . 1st mortgage, ser~es A to F} Sink. fund, cumula-{ 2d do senesGtoM tive, notdrawn.c* 3d mortgage ... . .... . .... . Pittsbu1·g Junction-1st mortgage, gold ..... ...... c* Pittsburg & Lake Erie-Stock ....................... . 1st mortgage, gold, coupon . .......... . . . ......... . 2d mortgage for $2,000,000 (series A), gold ..... c Pittsburg McK. & Yough.-Cons. stock, zyar. P&L.E. 1st mortgage, guar. byP. &L. E. andL. S. &M. S .. 2dmortgage, for $1,750,000 .................... .'. McKeesport & Bellevernon, 1st mort~age ....... . Pittsb. Painesville & Fairport-1st M., go1d, int. gu. c* Terminal mort., interest guar. by Pittsb. & West. Pitts. Shenango & LakeE.-lst M., gold ............ e· Pittsburg Vfrginia & Oharleston-lstmortgage, gold Pittsbiwg& Western-lstM., Pitts. Newcastle&L. E. 1st mortgage, gold, for $10,000,000 .............. c 2d mortgage for $3,500,000, gold .............. c* Foxburg Bridge Co. 1st mortgage, guar ......... . Pittsburg Youngstown & .Ashtabula-'-Common stock Preferred stock .. . ..... ..... . ....... .. ............. . Lawrence Railroad 1st mortgage . . .......... .... c Ashtabula & Pittsburg 1st mortgage ...... ...... c• Consol. mort. (for $4,000,000) s. f. 1 p. c., not dr .c Port Jervis Monticello & N. Y.-lst M. ($10,000 p.m.) INTEREST OR DIVIDENDS. Bonds-Princi.,_ Miles Date Size, or A.mount pal,WhenDuer of of Par Outstanding Rate per[ When Where Payable, and by Sto~k.s-Last Road. Bonds Value. Cent. Payable Whom. D1V1dend. 78 149 149 149 470 470 468 468 468 8 71 71 62 0 • 62 92 63 146 70 226 226 119 119 14 62 119 1882 $ .... 1,000 1868 1876 £200 1885 100 &c. 100 100 1871 1862 500 &c. 1862 500 &c. 1862 500 &c. 1,000 1882 50 1,000 1878 -1,000 1889 50 1884 1,000 1882 1,000 1 884 1,000 1888 1,000 1886 1,000 1889 1890 1,000 1,000 1882 1878 500 &c. 1,000 1887 1,000 1891 1882 50 50 1,000 1865 1,000 1878 1,000 1 887 1,000 1887 sees keep the road in repair and also pay taxes, expenses, &;c. The rental and interest charge is about $3,146,053 per year, and the profit to lessees has been large. The road is now operated by the Pennsylvania Company. The Pittsburg Fort Wayne & Chicago l eases the Newcastle & Beaver Valley, 15 miles, and the Massillon & Cleveland RR., 12 miles, both operated by the Pennsylvania RR. The first mortgage bonds are in six series, lettered A to F in elusive, of $875,000 each series, the interest on "A" series being payable January and July; on "B," February and August; on "C/' March and September; on "D," April and October; on "E," May and November, and on "F," June & December. The second mortgage is also in six series of $860,000 each, lettered G-to M inclusive (J olnitted), and the interest is payable January and July on "G" series; February and A.u~ust on "H"; March and September on "I"; April and October on "K'; May and November on "L," and June and December on "M.'' Lessee pays $104,100 yearly to sinking fund, and if bonds cannot be purchased, funds accumulate. Of the above 1st mortgao-e bonds, $1,871,500, and of the second mortgage $2,304,000, and $1,582,543 cash, were held in the sinkino- funds January 1, 1891. The special improvement stock is issued to Pennsylvania RR. for improvements, &c., under article 16 of lease, which provides that the lessor may issue special bonds or stock. See V. 50, p. 139. In 1889 gross earnings were $10,862,899; net income, $3,901,661; profit to lessee, $756,811. In 1890 gross, $12,020,934; net, $4,061,100; drofit to lessee, $915,047. (V. 50, p. 139, 734; V. 52, p. 498, 938.) Pittsbur~ .Tu_n ctlon.-0wns 8 miles of tracks (includino- sidings, &c.) at Pittsburg, Penn., connecting the Balt. & Ohio and the Pittsburg & Western, which companies in 1882 agreed to pay the Pittsburg Junction $2 for each car passing over its road. In 1889-90 gross earns. $218,461; net, $158,616; surplus over char~es anct dividend on preferred stock $14,128. Common stock is $960,0uO; preferred, $480,000; par $50. Dividends of 7 per cent have been paid on preferred stock. Pittsburg & Lake Erie.-Owns from Pittsbur"', Pa., to Youngs· town, 0., 68 miles; branch line to Newcastle, Pa, 3 mhes; total owned• 71 miles; leases the Pittsburg McKeesport & You~hiogheny RR., Pittsburg to New Haven, Pa.• 57 miles; McKeesport to Bellevernon, 28 miles; with branches, 8 miles; total operated, 164 miles. Operated in the interest of Lake Shore & Michigan Southern, which owns $2,675,696 stock. Dividends 1884 to August, 1891, inclusi,a, 6 per cent yearly. In 1889, gross earnings (including Pittsburg McKeesport & Yougbiog-heny), $3,251,895; net, $847,490. In 1890 gross, $4,010,587; net, $947,889; interest, $197,997; rental to Pitts. McK. & Y., $429,228; one half profit on Pitts. McK. & Y. paid to Lake Shore & Michigan Southern, $106,134; dividends, $212,250; surplus, $2,278. John Newell, Pres., Chicago, Ill. (V. 50, p. 72,174; V. 52, p. 679, 974.) Pitts burg lU eKeesport & You~hiogheny.-0wns from Pittsburg to New Haven. Pa., 57 miles; McKeesport to Bellevernon, 28 miles; branches, 8 miles; total, 93 miles. Road opened November, 1883, and leased to Pittsburg & Lake Erie Railroad for 99 years. Rental is 6 per cent on the stock, principal and interest of the bonds being guaranteed by Pittsburg & Lake Erie and Lake Shore & Michigan Southern companies, the guarantees being endorsed on the share certificates and bonds. Profits to lessees in 1890, $212,269, of which one-half was payable to the Lake Shore & Michigan Southern.-(V. 52. p. 126.) Pittsburg PainesviJle & Fairpo1·t.-0wns from Fairport, O., to Youngstown, 0., 63 rniles. Operated at cost by Pittsburg & Western, but inter-est of bonds is guaranteed. Common stock, $800,000; preferred, $250,000; par, $50. From Jan. 1 to Nov. 30, 1691 (11 months), gross earnings were $284,798, against $269,184 in 1890; net, $8,811, against $55,988. In year endmg March 31, 1891, gross earnings, $293,578; net, $61,440; deficit under charges, $4,978, against surplus of $36,143 in 1889-90. (V. 52, p. 795.) PiHsburo- Shenango & Lake Erie.-( See Map.J-Owns from Butler, Pa., to Girard, Pa., or Wallace Junction, 107 miles; branches to Hilliard, etc., 26 miles; leases Meadville & Linesville Railroad, Linesville to Meadville, 21 miles; total operated, 154 miles. Reorganized in October, 1890, after consolidation with the Pittsburg- Butler & Shenango, the Shenango & Allegheny, Brie Shenango & Pittsburg and the Northeastern Ohio. To retire the old bonds of the consolidated lines and to build the extension from Greenville to Girard, on Lake Erie 49 miles, $2,800,000 bonds were issued, $200,000 being reserved' for the completion of the line to Conneaut Harbor, a distance of 10 miles. From July 1 to Dec. 31, in 1891 (6 months), gross earnings ·were $204,307, against $137,950 in 1890; net, $77,354, ag-ainst $53,357. In 1890 gross earnings on 83 miles were $262,293, ao-ainst $239,138 in 1889; net, $103,746, against $89,290. Stock, $3,000,000; par, $50. -(V. 49, p. 617; V. 50, p. 771; V. 52, p. 81, 322, 718, 832; V. 53, p . 969; V. 54, p. l'.20.) PHtsbu1~g Virginia & CharJeston.-From South Pittsburg, Pa., to Uniontown, &c., Pa., 75 miles. The stock is $1,805,200 (par, $50), of which $1,538,100 is owned by the Pennsylvania Railroad, which pays net earnings as rental, and has pledg-ed the bonds under its collateral trust of 1883. In 1890, gross, $1,029,314; net, $332,483. Pittsburg & ~este1·n.-0wns ~om Alleghany City, Pa., to New Castle. Pa., 64 rniles; Callery Junction to Mount Jewett, 139 miles (of which 124 miles narrow ga~~e) ; branches, 9 miles; total owned, 212 miles ._ Leases for 99 years Pitpsbur~ ClevelaJ?-d & Toledo, New Castle Junction, Pa., to Valley Junction, v., 77 rrules and the Pittsburg https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $2,400,000 4,000,000 6,567,880 10,000,000 19,714,286 14,374,289 5,250,000 5,160,000 2,000,000 1,440,000 4,000,000 2,000,000 1,000,000 4,000,000 2,250,000 900,000 600,000 1,000,000 250,000 2,740,000 3,000,000 219,000 9,700,000 2,000,000 100,000 1,333,342 1,700,000 310,000 1,500,000 1,562,000 364,000 6 g. A. & 0. 7 J. & J. 6 g. J. & J. 5 g. F. & A. 134 Q.-J. Q.-J. 134 7 Various 7 Various .A.. & 0. 7 6 g. J. & J. F. & A.. 3 6 g. J. & J. 5 g. A. & 0. J. & J. 3 J. & J. 6 J. & J. 6 J. & J. 6 5 g. J. & J. J. & J. 5 5 g. A. & 0. A. & 0. 5 J. & D. 7 4 g. J. & J. 5 g. M. & N. M. & S. 6 ..... 3 312 M. & S. F. & A. 7 F. & A. 6 M. & N. 5 ..... 6 g. New York. Baltimore, B. & 0. RR. Lond'n,J.S.Morgan&Co New York Agency. N. Y., Winslow, L. & Co. do do do do do do do do N. Y., Third Nat. Bank. Pittsburg, Co.'s Office. do do N. :Y., Security & Tr. Co. N. Y., Union Trust Co. do do do do Pittsb'g, Fidelity Tr.Co. N. Y., Mercantile Tr. Co. do do N. Y., Central Trust Co. Philadelphia, Penn. RR. Allegheny,Pa.,lstN.Bk. N. Y., Drexel, M. & Co. New York City. N. Y., Union Trust Co. N. Y., Farm. L. & Tr. Co. do do N. Y., Winslow, L. & Co. Phila., Fidelity Tr. Co. N. Y., Farm. L. & Tr. Co. New York Agency. Oct. 1, 1922: July, 1898 Jan. 1, 1926'· Feb. 1, 1925Jan. 6, 1892.' Jan. 2, 1892 July 1, 1912 July 1, 1912 July 1, 1912 July 1, 1922'. (1) Jan. 1, 1928" Jan. 1, 1928 Jan. 1, 1892 July 1, 1932'" July 1, 1934 July 1, 191S; July 1, 1916 July, 1916 Oct. 1, 194'l Sept. 1, 191~ June 1, 1898July 1, 1917 May 1, 1941 Sept. 1, 1902'" Sept. 25, 189li Sept. 25, 1891 A.ug. 1, 189& Aug. 1, 1908, Nov. 1, 1927" Dec. 1, 1927" Painesville & Fairport Railroad, Niles to Fairport, in Ohio, 54 miles, . and Windsor branch, 9 miles; and uses 26 miles of Cleveland Akron & Columbus; Akron, O., to Orville, 0. ; also owns entire stock of Trumbull & l\:fahonin,s- Railroad, Hazleton to Niles, 0., 15 miles; and of Pittsburg Northern, 4 miles; total operated, 398 Iniles. Sold in foreclosure June 8, 1887; new company organized June 25 ac 30rding to plan in CHRONICLE, V. 44, p. 370. In February, 1891, the Baltimore & Ohio bought $6,050,000 common stock, and on the completion of its Akron & Chicago Junction line it will use the road as part of a through route to Chicago. The Baltimore & Ohio assumed $1,250,000 of fl.oatmg debt and will fund the same into second mortgage bonds. of which $3,500,000 have been authorized for doubletracking, etc. This second mortgage is a first lien on the company's. property iJ+ Ohio. See V. 52, p. 238, 499, 762. Stock, common, $7,000,000, and preferred, $5,000,000, 5 J;>er cent non-cumulative; both in $50 shares. Votino- power of stock will be exercised till January 1, 1892, by J. Pierponi Morgan, J. L. Welsh and' - - --. For abstract of first mortgage (trustee, Mercantile Trust Company) see v. 45, p. 439. Leased lines are operated at cost and interest; on bonds advanced if necessary. In addition to the above indebtedness there were outstanding February 28, 1890, $81,000 of old Pittsburg & Western first mortgage bonds,.. due 1900, real estate mortgages for $188,500; car trusts, $427,682. Guarantees interest on $1,250,000 Painesville & Fajrport bonds (see-that company). From Jan. 1 to Nov. 30, 1891 (11 months), gross earnino-s on entiresy tern were $2,092,302, against $2,077,289 m 1890; net, $379,372,. against $695,4.42. For year ending March 31, 1891, gross earnings of the three roads,. were $2,207,015; net, $718,579; surplus over charges, $30,744, against $197,843 in 1889-90.-(V. 52, p. 238, 280, 499, 762, 795, 796.) Pittsburg Youngsto,vn & Asbtabula.-0wns Kenwood, Pa.,. to Wampum Junction, Pa., 13 miles; Lawrence Junction, Pa. , to Ashtabula, 0., 80 miles; Niles to Alliance Junction, 0., 25 miles; Canfield· Branch, 1 mile; total operated, 119 miles. A consolidation of the Ashtabula & Pittsburg and other roads in 1887. Leased from December12,. 1887, to Pennsylvania Company, rental being: net earnings. Stock outstanding-Common, $1,333,342, and preferrea, $1,700,000; both in $50• shares. Dividends on preferred stock at rate of 7 per cent yearly since1887; on common, in September, 1890, 212 per cent i in September,. 1891, 3 per cent. Bonds of 1887 (trustee, Farmers' Loan & Trust Company) are reserved to retire divisional bonds. A sinkins- fund of 1 per· cent purchases bonds of 1887 at par; otherwise payments lapse. From January 1 to Nov. 30, 1891 Ill months), gross earnings were$1,190,698, against$1,268,533 in 1890; net, $460,346, against $467,366in 1889-90. In 1890 gross earnings, $1,376,264; net, $511,818; interest on bonds, $189,800; additions and improvements, $43,979; dividends (212 per cent on common 7 on preferred), $152,024; surplus, $126,016Port Jervis JUonticello & Ne-w-York.-0wns from Port Jervis, N. Y., to Monticello, N. Y., 24 rniles, and Huguenot to Summitville, 18 miles. Was sold in foreclosure July 16, 1875, and a~ain in November,. 1886, and reorganized. Stock, $409,100; par, $10u. In year ending June 30, 1890, gross earning-s were ~$47,485; net, $5,034; interest, $21,840; taxes, $-!,953; deficit, $21, 7o9. (V. 48, p. 372. l Port Royal & Augusta.-0wns from Port Royal, S. C., to Augua ta, Ga., 112 miles. Formerly-Port Royal RR., sold in foreclosure Jnne 6, 1878. The Georgia RR. was endorser on $500,000 of the old bonds. The stock is $750,000, par $100, and in June, 1881, Central Georgia obtained control of the company. The first mortgage bonds are $250,000, redeemable at 105; both firsts and seconds also have sinking funds .. In year ending June 30, 1890, gross earnings were $329,5ll::1; net, $40,350; surplus over interest and sinking fund, $2,630. Port Royal & Westei·n Carolina.-0wns Augusta, Ga., to Spartanburg, S. C., L aurens to Greenville, S. C., and McCormick toAnderson, S. C., 229 Iniles. A consolidation in 1886 of the Augusta & Knoxville, &c. Common stock of $1,234,000 and 6 per cent noncumulative preferred stock $184,000-par of shares $100. The mortgage is for $2,500,000. Central RR. of Geors:_ia owns $1,578,000 of the above bonds, $694,000 common stock and au the preferred. In year end.in~ June 30, 1890, gross earnings, $380,291, again_s t $357,946 in· 1888-ts9; net, $9,703. Portland & Ogdensbu1·g.-0wns Portland, Me., to Scotts Mills, 108 miles. In June, 1886, after foreclosure this company was reorganized as the Portland & Ogdensburg Railway. The city of Portland owns $2,200,500 and the Boston & Maine $395,200 of the $4,237,036 stock (par, $100) . Leased from August 30, 1888 for 999 years to Maine Central for interes;t; on bonds and 1 per cent on stock till August 30, 1891,. and 2 per cent thereafter. The consolidated mortgage (Boston Safe Deposit & Trust Company, trustee) was issued in 1888 to extend the road to a connection with the St. Johnsbury & Lake Champlain, $800,000 being reserved to pay off first mortgage, and bonds berng guaranteed principal and interest, b): Maine Central.-(V. 47, p. 50, 161, 278.) Po1·tJand & Rocheste1·.-0wns from Portland, Me, to Rochester, N. H., 53 miles. By a settlement in 1881 all the old stock and bond were converted into the stock of the new company, of which the Bot!l~on, & Maine owns $482,000. In 9 mos. ending June 30, 1891, gross earn ings, $171,445; net $30,661. JANUARY, RAILROAD STOCKS AND BONDS. 1892,] Ill C, I I I I I t, , ' J ' f ~i I I I I ,I nevlne oLnnd:vs I;ane . n·e-a 11.t J·c. 0 Edlnbor 10n ;,r1lle C.r.o'esln~le eiana :))pro 1 --, rtown Lyona.o ~ VILL.E 0 ? https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis oning MAP OF THE PITTSBURG, SHENANGO AND LAKE ERIE R. R. AND CONNECTIONS. -1 12 INVESTORS' SUPPLEMENT. [Vor.. LIV: Subscrib ers vvlll confer a great :favor by giving hnmed:la te notice o f any error disco vered In these Tab les. Bonds-P?ffio RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or pal,When Du& Amount of Par For explanation of column headings, &c., see notes of Rate per When !Where Payable, and by Srocks-Lasi: Road. Bonds Value. Outstanding Cent. Payable Whom. on first page of tables. Dlridend. PortRoyal&A.ugus.-lstM.and2dM.,end.byCen.Ga. General mortgage income bonds, fold ........... c* Port Ro]lal cf: West Oarolina-Augus a & Knox. M.c* Consolidated mortgage, redeemable at 110.. -- .c* Portland d! Ogdensb.-lstM., g., int. guar. M. Cent.c Consol. mort.,$20,000p. m., guar. (Maine Cent.).c Porland d! Rochester-Stock ($600,000) ......•...... Portland Saco d! Portsmouth-Stock (gua"l'. by rental) Portland d! Willamette Val.-lst M., g., red.at105.c* Portsmouth d! Dover-Stock, 6 p. c. guar. East. Mass. Potomac Vall~y-lst mortege for $2,009,000 .. - - -Prescott d! .A.Nzona Oentra 1st M., ~-, sink. fund . c 2d mortjage, incomes paid 2 per c. Jan. 1, 1891 Prospict ark d! Goney Island.-lstmortgage.c*&r 2d mortgage for $500,000. _.................. c*&r 3d mortgage for $200,0001\f.old .............. . c*&r Providence cf: fl:/'ingf.-lst . (end. byCityProv.)c* Providence cf: orcester--Stock (10 per cent rental). lat mortgage ..................................... c" Quincy Omaha cf: Kansas City-Pref. 1st mortgage. J~:i~ia:..:..1st ·mortgage: tmidiiig:::::: :c* 0 R~fe~u~ Raleiqh cf: Gaston-lstmortgage .................... c Reading d! Ooliunbia-Ist mortgage (extended) .. c* 2d mortgage, coupon (extended in 1884) ........ e Debentures ......... _............................. . c Lancaster & Reading 1st mortgage.·............ c* Rensselaer d! Sa1·a.-Stock,8p.c.guar.Del.&Hud.Can 1st mortgage, consolidated.................... c*&r Richmond d! Danville-Con.M.,§5,,Rich. toDanv.&brs. Debenture mortO'age bonds, mcome cumulative .. Consol. M. g. ($18,ooo p.m.)$ or£ ($14,500,000)c* Equipment Trust bonds, gold, s.f.,subj. to call . . c* --- 112 '78-'82 $500 112 1878 100 &c. 500 68 1880 229 1887 1,000 60 1870 500 &c. 108 1888 1,000 53 ..... 100 51 100 30 isifo 1,000 11 100 is9i ---73 1886 73 10 10 10 23 51 51 134 134 98 97 40 40 ·15 195 79 152 152 152 ---- 1886 1874 1886 1891 1872 ---· 1877 1887 1887 1886 1873 1862 1864 1877 1873 ---· 1871 1874 1882 1886 1889 ··---- (1) 1,000 775,000 1,000 775,000 1,000 500,000 1 ,000 420,000 1,000 96,000 1,000 500,000 100 3,500,000 1,000 1,500,000 1,000 250,000 1,000- 1,489,240 1,000 1,000,000 1,000 1,000,000 100 &c. 650,000 1,000 350,000 1,000 1,000,000 100 &c. 350,000 100 10,000,000 1,000 2,000,000 1,000 5,996,000 1,000 3,368,000 1,000 3,436,000 1,000 1.371.000 I Portland Saco & PortsJUouth.-Portland, Me., to Portsmouth, N. H., 51 miles. It was leased May 4, 1871, in perpetuity to the Eastern Railroad, Mass. (now merged in Boston & Maine), at 10 per cent on stock. Lease rental changed May 21, 1877, and now 6 per cent . . Portland & W1ll~mette Valley.-Lme ~f road from Portland, Ore., to DU?dee, 28 mile~, and branch~s 3_ miles, all. narrow gauge. Connects with Oregon Railroad, with which it has a freight con_tra~~ for 15 years. Bonds payable at 105. St<_>ck, $150,000. Current liabi~ties July 1, 1890, $394,435. In y~ar ending June 30, 1890, gross earnmgs were $93,484; net, $19,465; mterest and taxes, $83,545. Potomac Valley.-This company, controlled by the Western Maryland, was organized to build connectin$ links between that system and the Baltimore & Ohio and Philadelphia & Reading. The charter provides for a line (now under construction) from Williamsport to Cherry Run on the B. & 0., another from Porters Station, York County, through the city of York to Chickies. (V. 52, p. 121.) Prescott & Arizona Central.-Owns from Seligman, on the Atlantic & Pacific Railroad, to Prescott, Arizona, 73 miles. Stock, $1,200,000. Central Trust Company of New York is mortgage trustee. Five per cent of net earnings each year accumulates as a sinking fund; bonds purchased, not drawn, at 110. Application to New York Stock Exchange was given in full in CHRONICLE, V. 48, p. 223. From Jan. 1 to Nov. 30, 1891 (11 months), gross earnings were $129,876, against $123,507 in 1890; net, $58,212, against $82,358. In 1890 gross earnings were $134,594; net, $88,269. Office, 42 Wall Street. Prospect Park & Coney Island.-Owns from 9th Avenue and 20th Street, Brooklyn, to Coney Island, etc., 6 miles. Leases to Coney Island Point, etc., 312 miles; trackag-e, Parkville to Bay Ridge, 312 miles ; total operated, 13 miles. Stock is $250,000 ; par, $100. In addition to bonds as above there are $250,000 non-cumulative 6 per cent incomes due May 1, 1920, which are not secured by mortgage. The company sold its horse-car property and franchises to the Atlantic Horse RR. Co., and holds a 5 per cent bond and mortgage of that company for $420,000. In 1890-91 gross earnings were $158,267; net, $34,019; net includin~ income from rents, $72,864; charges, $85,992; deficit, $13,127. President, Andrew R. Culver, Bklyn. Providence & Springfield.-Providence, R. I., to Pascoag, 23 miles. Stock is $517,450 (par, $100), a majority of which was acquired in July, 1890, in interest of the New York & New England, and road leased to that company for 99 years from October 1 at 6 per cent on stock. See V. 51, p. 458. Bonds for $700,000 are to be isslled-$500,000 to retire existmg first mortgage when due, and $200,000 for an extension of 8 miles to East Thompson, Conn. They will be guaranteed by the New York & New England RR. and the city of Provicience. In year ending Sept. 30, 1890, gross earnings, $138,036; net, $48,422; surplus over fixed charges, $14,822. (V. 51, p. 458.) Provide• ce & Worcester.-Owns from Providence, R. I., to Worcester, Mass., 44 miles; branches, 7 miles; total operated, 51 miles. In 1889 leased road to the New York Providence & Boston for 99 years at 10 per cent per annum on the stock. In 1889-90, gross earnings, $1,523,514; total net income, $612,090; surplus over charges and 10 per cent dividends, $108,685. (V. 48, p. 829; V. 51, p. 681.) Q uincy Omaha & Kansas City.- West Quincy to Trenton, ID., 134 miles; trackage (C. B. & Q.), to Quincy, 3 Inlles. This company is successor to the Quincy Missouri & Pacific sold in foreclosure and reorganized. The stock is $1,489,240 (par $100) . In 1890, gross earnings, $265,464; net, $106,658; rentals and tolls, $27,524; interest, $37,138. From Jan. 1 to Nov. 30, 1891 (11 mos.), gross earnings were $238,499, against $230,549 in 1890; net, $78,076,against $71,276. Kale i g h & A u g u sta.- Owns from Raleigh, N. C., to Hamlet, N. C., 98 Blliea; Hamlet to Gibson, 10 miles; leases Moncure to Pittsboro, 10 miles; Cameron to Carthage, 12 miles; total, 130 miles. Formerly Chatham Railroad; now controlled by Raleigh & Gaston (which owns most of the stock and bonds) and so by Seaboard & Roanoke. Stock is $ 873,000; par, $100. In year ending June 30, 1891, gross· earnings, $317,113; net, $99,014; surplus (including other receipts) over fixed charges, $38,369. Kaleigh & Gaston.-Ownsfrom Ralei(J'h to Weldon, N. C., 98 miles and Louisburg branch, 10 miles. Controls 'iialeigh & Augusta RR., 108 miles, and has large interest in Durham & Northern RR., Durham to Henderson, N. C., 42 miles; and with Seaboard & Roanoke controls Carolina Central; also controls Georo-ia Carolina & Northern and jointly guarantees the bo11.ds. Seaboar'a & Roanoke owns $742,200 of the Raleigh & Gaston $1,500,000 stock; par, $100. Semi-annual dividends are paid at National Farmers' & Planters' Bank, Baltimore, April 1 and Oct. 1. Dividends in 1889 and 1890, 6; in 1891, 6 per cent. In year ending June 30, 1891, gross earnings were $534,634; net, $218,403; income other sources, $47,258; interest paid, $80,000; dividends (6 per cent) $90,000; surplus, $91,550. {V. 52, p. 530.) Reading & Colu1nbia.-Owns from Columbia to Sinkin(J' Springs, Pa., 13 miles; branches, 13 miles; Lancaster & Reading RR., feased, 15 miles; operates Marietta Junction to Chickies, 6 miles; total operated, 74 miles. Stock, $958,268; par, $50. The road is controlled and oper, ated by the Philadelphia & Reading (which holds the above debentures), but accounts kept separate. In year ending June 30, 1890, gross earnings were $315,322; net, $84,853; interest, rentals and taxes, $137,~ 987; deficit, $53,133. Total deficit to July 1, 1890, $1,177,360. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $362,000 1,500,000 630,000 1,870,000 800,000 1,008,000 592,070 1,500,000 400,000 769,000 6 6 7 6 gg. 3 3 7 g. 3 5 6 g. 6 7 6 6 g. 7 212 6 5 3,4,5 6 8 5 5 6 7 4 7 6 g. 6 5 g, 5 g. J. & J.IN. Y. Security & Tr. Co. J. & J. do do J. & J. N. Y. Security & Tr. Ce .. M. & N. ! N. Y.,Mer.Nat. Bank. J. & J. Portland, Me.,Cent. RR. M. & N. Boston, Agency. J. & J. Portland. J. & J. Boston, B. & M. J. & J. N .Y., Farm. L. & Tr. Co. J. & J. Portsmouth, Treasurer. J. & J. ·····----J. & J. N. Y., Office, 42 Wall St. J. & J. do do J. & J. Brooklyn, 4 Court Sq. F. & A. do do M. & S. do do J. & J. Providence,Am.Nat.Bk. Q.-M. Providence, Office. A. & O. Prov.,R.I.Hosp.&Tr.Co. J. & D. N. Y., John Paton & Co. J. & D. do do J. & J. Balt.& Phil. Meeh.N.Bk. J. & J. Balt.&Phil. Mech.N.Bk. M.& 8. Phila., Phil.&Read. RR. do do J. & D. J. ..&.. J. Phila.' i>iiii: &Read. RR. J. & J. N.Y.,Del.&H.CanalCo. M.&N. do do J. & J. N. Y., 4th Nat. Bank. A. & O. do d'o A. & 0. do do M.& s. do do 1898 . & 189 Jan. 1, 189 July 1, 190 May 1, 193 July 1, 190 Nov. 1, 1908 Jan.15,189 Jan. 15, 189 Jan. 1, 1906 Jan. 1, 189 Jan. 1, 1941 Jan. 2, 191 Jan. 2, 191 Jan. 1, 189 Feb. 1, 192 Mch. 1, 1931 July 1, 189 Dec., 1891 Oet. 1, 189 Dee. 1, 191 Dec. 1, 191 Jan., 1926 Jan. 1, 189 Mch. 1, 191 June 1, 190 Dec. 1, 191 July 1, 189 Jan. 2, 189 May 1, 192 Jan. 1, 191 Apr. 1, 192 Oct. 1, 1936 Sept. 1, 190 Rensselaer & Saratoga.-Owns Troy to Ballston N. Y., 26 miles; Whitehall, N. Y., to Vermont line, 7 miles; Eagle Bridge to Rutland •. Vt., 62 miles; Saratoga to Whitehall, 39 miles; branch, 3 miles; total owned, 137 miles. Leases: Albany to Waterford Junction, 12 miles; Saratoga to Schenectady, 22 miles; Fort Ed ward to Caldwell, 14 miles; . other branches, 10 miles; total leased, 58 miles; total operated, 195 miles. Leased m perpetuity March 1, 1871, to the Delaware & Hudson Canal Company, which owns $1,600,000 stock; rental, 8 per cent on th& stock and interest on the bonds. Stock authorized, $10,000,000. For the year ending June 30 1891 gross receipts were $2 572 192 , against $2,629,546 in 1889-90; net; $963,877, against $1.i27,563; deficit under charges, $136,204, against surplus of $63,404 in 1889-90. -(V. 51, p. 207, 681 ; V. 52, p. 28u, 762; V. 53, p. 224, 568.) Richmond & Danville.-( See Map Richmond d! West Point Te,._ minal.J-The main line owned is from Richmond, Va., to Danville, Va. 140 miles. with branches, 12 miles; the system proper is 751 miles. For details see Richmond & West Point Terminal Company. In February, 1887, the Richmond & Danville stock was mostly exchanged for Terminal in the proportion of four shares of Terminal forone of Richmond & Danville. The stock is $5,000,000 (par $100), of' which $4,976,100 is owned by Richmond & West Point Terminal, and' pledged under its collateral trust and preferred stock agreements. Dividends since 1876-In 1881, 5 per cent; in 1882, 7; in 1887, 3; in 1888, 5; in 1889, 10; in 1890, 10; in 1891, January, 5; July, 5. Of the. consolidated mortgage bonds of 1936 $10,720,000 werereserved to retire the consolidated mortgage 6s of 191& and the debentures. The Oxford & Clarkesville 6s, due 1937, hav& principal and interest ~aranteed by Richmond & Danville. There are$111,000 Clarkesville & North Carolina 6s (M. & N.), guaranteed, dueNovember, 1937. The Washington Ohio & Western 1st mortgage bonds are guaranteed as to principal and interest by endorsement; $100,000 of the $1,250,000 are reserved to take up Clark County bonds. In 1890 the Richmond & Danville issued $6,000,000 bonds jointly with the E. Tenn. Va. & Ga. (See East Tenn.) Danville & New Riverbondfi' for $1,052,000 are guaranteed, $552,000 of which are owned by R. & D. The floatin§5 debt was increased largely for advances to roads in thesystem, and m January, 1892, a syndicate was formed to raise about $6,000,000 and to pay off this debt .-(V. 54, p. 79.) From July 1 to Dec. 31, 1890 (6 months), gross earnings were $3,258,495, against $3,021,580 in 1889; net $1,456,689, agst. $1,216,383. Year ends June 30. Report for year 1890-91 was given at much length in CHRO:NTCLE, V. 53, p. 837, &c. The President's report and tables accompanying it and the General Manager's report were very full, and reference should be made to them. The net surplus of Richmond & Danville proper above fixed charges was $1,212,403; surplus. on other roads of the system, except Georgia Pacific, $111,707; deficit on Georgia Pacific, including improvements and bet terments, $1,509,531 ; result on whole system a deficit of $185,421. The following figures are for the 751 miles of the R. & D. system proper: 1 890. 1891. Gross earn'gs, includ. interest on investm.'ts.$5,600,712 $5,947,359 Operating expenses .......... _................ 3,111,451 3,009,736Net earnings .............................. $2,489,261 Fixed charges, sinking funds and taxes ..... 1,738,397 $2,937,622' 1,725,218 Surplus.................................... $750,863 $1,212,403 (V. 51, p. 172, 908; V. 52, p. 1 6 3 , 204, 351, 390; V. 53, p. 59, 408~ 711,817, 8 3 4,8 3 7; v. 54, p . 79, 120.) Kiehlllo n d Frederlcksb u r o- & P o t o m a c . -Owns from Rich mond, Va., to Quantico, 79 miles; S'ames River branch, 3 miles; leases- Quantico to Junction, 2 miles. There are $83,363 7 per cent debt cer tificates due J uly, 1899, and $53,512 5 per cent certificates due in 190 1 and 1~02. In December, 1889, the consolidated mortgage for $2,000,000 was authorized to provide for prior bonds maturing, for extensions.r double-track, &c. Dividends of 7 per cent paid on common stock ana dividend obligations in 1888 and 1889; in 1890, 612 per cent; in 1891, 7 per cent; in 1892, Jan., 3½. In year ending June 30, 1891, groM earnmgs were $756,152 ; net, $293,393 ; surplus over interest and guaranteed dividends, $52,084, aeainst surplus of $45,373 in 1890 . -(V. 49, p. 826; V. 50, p. 312,520, 904-; V. 52, p. 3 9 ; V. 53, p. 753.) Klch1nond Nicho lasville Irvine & BeattyvilJe.-Line of · road-Versailles, Ky., to Beattyville at the Three Forks of the Kentucky River, 97 miles, of which 51 miles are completed and in operation and the remainder uniter construetion. In March, 1890, stockholders ot the Louisville N. Albany & Chicago voted to reject an agreement that had been made to (J'uarantee this company's bonds. In Dec., 1891, a recciverwas appoin'ted. (V. 50, p. 484,770; V. 51, p. 609; V. 53, p. 846.) Klehinond & Petersburg.-Owns from Richmond to Petersburg, Va., 23 miles. James River branch, 4 miles. The consolidated mortgage of 1890 provides for outstanding obligations, double-tracking, &c. Dividends since 1883-In 1884, 1885 and 1886, 5 per cent; in 1887, 6; in 1888, 1889, 1890 and 1891, 7; in 1892, January, 319. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $131,253, against $131,113 in 1890; net, $36,160, against $43,995. Fiscal year now ends June 30. In year 1890-91, gross earnin~s,$325,268; net, $70,420; total net income, $91,177; interest paid,. $24,500; dividends (7 per cent) $70,000; deficit for year, $3,343. In, 1889-90 gross, $325,305 ; net, $100,822; surplus over charges and 7-per cent dividend, $19,751.-(V. 50, p. 312; v. 51,p.143; V. 53,p. 87 9 . i► -"~ ""' c,J ~0 '-) ~ ~ rn ~ 0 0 8 00. ~ I • I - • ,,-· / · MAP OF THE ,-, ....~ i ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ' nlCHMOND & WEST POINT ftl TERMINAL CO. SYSTEM. INVESTORS' SUPPLEMENT. 114 [VOL, LIV. Subscrlberl!I -will conCer a great Cavor by giving Immediate n~tlce oC any error discovered In these Tablel!I. Bonds-Prine1RAILROADS. INTEREST OR DIVIDENDS. Miles Date Size, or A.mount Rate per When Where Payable, and by pal, When Due.. of Par For explanation of column headings, &c., see notes of Stocks-Last Outstanding Road. Bonds Value. Cent. Payable on first page of tables. Whom. Dividend. --- Richmond cf: Danville.-Ooncluded. Equipments.f. bonds, $2,000,000,a;.,sub. tocalLc* Northwestern, N. C., 1st M. ($15,0 0 p. m.) g. iu.c Richmond York River & Chesapeake, 1st mor g . . 2d mortgage, Richmond to West Point, Va ... . .. Stock, guaranteed 6J.er cent ............ . .. . .. .. Wash.Oh.& West. 1st ., guar.,A.lexan.to R. Hill.c o!ii~r: l!t~:f~Te ·isi·moii:,· ~ii5;ooo ii: m:·::c Danville & West. 1st M. for $15,000p. m.,g .. .... c Rich. Fred. cf: Pot.-St'k,com. ($1,071,100 div.oblig.) Stock, guar. 7 p. c., except $19,300 guar. 6 p. c .. Convert. bonds,$129,150 5s,due 1901,6s&7s,1895 Coup. bonds ($48,687 are 5s, pay. J & Jin London) Consol. mortgage for $2,000tOO, gold ....... c*&r Rich. Nichol. Ir1:. cf: B.-lstM. ( 25,000 p.m.) gold.c,.. Richmond cf: Petersburg-Stock ............ .•.... . ... Consolidated mortgage ($50,000 are 7s) .......... Consolidated ruort15age for $1,000,000, gold .... c* Richmond cf: West Point Terminal R. cf: W. Oo.-Stock Pref. 5 p. c. stk., cumulative, subject to call at 110 Collat. trust bonds, gold, subject to call at 105 . .. Consol. collateral trust, subject to call at 100 . . c* Rio Grande Junc.-lst mort., ,., J:uar.jointly .... c* Rio Grande Southern-1st M., 2 ,OOOp.m., g .. c*&r Rio Grande Western-Preferred stock ... . ........... 1st trust mortgage, ~ld ......................... c: Roanoke cf: South.-lst ., $15,000 p.m.,ser.A. . . c Roch. cf: Genesee Val.-Stoc , 6%rentalN.Y.L.E.&W. Rock Island cf: Peoria-Stock . ................... . .... 1st mortgage ......................... .. ........... r Consolidated 1st mortgage ..................... . . . r i·• ioo 38 38 0 50 50 50 70 .... 1891 $1,000 1888 1,000 1873 1,000 1880 1,000 100 1,000 1884 1887 1:000 1,000 1891 .... 100 100 iss4 is56 l;;·i 58&70 79 ..23 23 27 .... .... 1890 1889 is15 1890 .... ---· iss7 ..62 1889 180 iii ·1s 113 91 113 1889 1890 issg 1889 .... ---- 1878 1885 ('l) 6 g. M.&N. N. Y., 4th Nat. Bank. May'92-1906 $1,500,000 do do A.pr. 1, 1938 ~ g. A.. & 0. 400,000 J. ·& J. do do Jam 1, 1894 500,000 M.&N. 6 do de Nov. 1, 1900 497,000 3 J. & J. do do Jan. 2, 1892 1,000,000 4 F. & A.. do do Feb. 1, 1924 625,000 6 None paid. 1924 750,000 6 g. M:·&·N. N. Y., 4th Nat. Bank. Nov. 1, 1937 500,000 5 g. A.. & 0. do do· Oct. 1, 1936 2,228,200 312 J. & J. Phila. & Richmond. Jan~ 2, 1892 500,400 312 M.&N. do Nov. 1, 1891 do .... 144,520 5,6,7 J. & J. do do July'95 & 1901 ..... 349,687 5g. &6 M.&N. do do 1901 1,000 500,000 412g. A.. & o. N.Y., Phila. orRichm'd. A.pr. 1, 1940 1,000 1,000,000 6 g. J. & J. N. Y., Bk. of No. A.mer. July 1, 1919 100 1,000,000 312 J. & J. Richmond, Office. Jan. 4, 189 500 &c. 380,000 6&7 M.&N. do do May 1, 1915 1,000 300,000 412g. A.. & 0. N. Y ., Brown Brothers. A.pr. 1, 1940 100 70,000,000 --2~ J. . ·&:. J . N. Y., 4tJ:i.i{at."Bank. Juiy ·i5: ·i891J 100 5,000,000 1,000 5,500,000 6 g. F. & A.. do do Feb. 1, 1897 1,000 11,065,000 5 g. M.& 8. do do Mch. 1, 1914 1,000 1,850,000 5 g. J. & D. N. Y., Maitland, P.& Co. Dec. 1, 1939 1,000 4,500,000 5 g. J. & J. N. Y., Maitland, Phel~s July 1, 1940 100 6,160,000 Q.-F. N.Y.,office,32 Nassau t. Feb. 1, 189 z 114 1,000&c 14,000,000 4 g. J. & J. N. Y., State Trust Go. July 1, 1939 1,000 802,000 J. & J. Bait., Mere. Tr. & Dep. Jan. 1. 1919 ~ g. 100 555,200 J. & J. N.Y.,by N.Y.L.E.&W.Co Jan. 1, 189 ... . 1,500,000 212 J. & J. N. Y., Corn Exch. Bank . Dee.31, 1891 25,000 150,000 10 J. & J. do do Jan. 1, 19 5,000 450,000 6 J. & J. Jan. 1, 192 do do Klchmoud & West Point Terminal Railway & Ware• house Co.-(See Map.J-The mileage controlled and operated is about 8,558 miles (including water lines) as follows: RICHMOND & DANVILLE SYSTEM.-Richmond & Danville and Piedmont Railroad, branches, &c., 220 miles; Richmond York River & Chesapeake Railroad, 39 miles; North Carolina Railroad, 223 miles; Atlanta & Charlotte Air Line Railway, 269 miles; total system proper 751 miles. Operating leases: Northwestern North Carolina, 100 miles; Virginia Midland Railway, 346 miles; Washington Ohio & Western Railroad, 50 miles; Western North Carolina Railroad, 309 miles ; Charlotte Columbia & Augusta Railroad and leased lines, 363 miles; Colum· b1a & Greenville Railroad, leased lines ana branches, 296 miles; Richmond & Mecklenburg Railroad, 31 miles; Georgia Pacific Railway, 567 miles; Statesville & Western, 20 miles; Oxford & Henderson, 13 miles; Oxford & Clarksville, 50 miles; Northeastern RR. of Georgia, 40 miles; Clarksville & North Ca rolina , 7 miles; Hi~h Point Railroad, 28 miles. Controls by ownership of stock, operatmg separately: Asheville & Spattanburg, 70 miles; Elberton Air Line, 51 miles; other lines, 61 miles; total auxiliary system, 2,402 miles; total Richmond & Danville system June 30, 1891, 3,153 miles . 11:MT TENNES8EJ: VIRGINIA & GEORGIA SYSTEM.-(See East Tenessee -Virginia & Georgia for details).-Total, 2,561 miles. CENTRAL RAILROAD OF GEORGIA.-(See that company) 2,681 miles. WATERLINES.-Ocean Steamship Co. and Baltimore Ches. & Rich. S. B. ORGANIZATION, ETc.-Incorporated by an act of the Legislature of Virginia of March 8, 1880, and in November, 1886, purchased a lar~e majority of the Richmond & Danville RR. stock. The Central Georgia Railroad & Banking Company is controlled by the Georgia Company, whose entire stock is owned by the Terminal Company; in June, 1891, ihe Georgia Pacific leased the Central Georgia. STOCKS AND BONDS.-The preferred stock may be called for redemption at 110. It is secured by deposit in trust of $2,500,000 Richmond & Danville stock. Dividends on preferred stock-In 1887, 212 per cent; in 1888, 5; in 1889, 5; in 1890, 5; in 1891, Jan., 212; in July, 212. Price of common stock-In 1881, 122@17412; in 1882, 231i>263; in 1883, 211i>39; in 1884, 12@32; in 1885, 1838@43 14; in 1886, 2714@ 7714; in 1887, 2038@53; in 1888, 191i> 2934; in 1889, 1912@2734; in 1890, 1312@2814; in 1891, 838@1912; in 1892, to Jan. 22, inclusive, 13¾1i>l71s. Prererred in 1887, 43@8712; in 1888, 55@87 14; in 1889, 76@84¾; in 1890, 6019@8712; in 1891, 43@7612; in 1892, to Jan. 22, inclusive, 60@73. The securities owned free from any lien on November 30, 1891, were as follows: In 1890 the company guaranteed $6,000,000 Cincinnati Extension bonds, issued Jointly by Richmond & Danville and East Tennessee, Virginia & Georgia and secured by deposit of the stock purchased in obtaining control of the "Erlanger" roads. EARNINGS, FINANCES, ETC.-The controlled companies, Richmond & Danville, Central of Georgia and the East Tennessee Virginia & Georgia had run up floating debts which embarrassed the Terminal Company,. and as to the disposition of these in 1891 and 1892 see remarks under the respective companies. The plan for readjustment of the Richmond: Terminal finances was under consideration by the Olcott committee in January, 1892. From July 1, 1891, to July 31, 1891 (1 month), gross earnings on the Richmond & Danville system 3,120 miles, including Georgia Faciflc, were $1,138,283, against $1,021,156 on 2,981 miles in 1890; net, $361,442, aga inst $292,782. On the Central of Georgia for same period (1 month), gross earnings, excluding water lines, were $496,982, against $416,641; net, $115,364, against $46,655. For the year ending June 30 the earnings of all railroad linearcontrolled were as follows: EARNINGS, EXPENSES .A.ND CHARGES-ALL LINES-YEAR ENDING JUNE 30• 1888-89. 1889-90. 1890-91. Miles operated November 30... 7,521 8,558 9,052 $ $ $ Gross earnings ............... . .. 35,596,983 41,361,095 43,849,34.4 Operating expenses ............ 23,897,471 28,228,191 29,880,880. Net earnings . ..... .. .. . ..... 11,699,512 Charges . . . . . ................... . 9,434,445 13,132,903 10,637,185 13,968,464 11,455,457 Surplus. .. ... . ..... . ......... 2,265,067 2,495,717 2,513,007 The annual report for year ending November 30, 1891, was given at 1ength in V. 53, p. 878. · INCOME ACCOUNT YEAR ENDING :S-OVEl\IBER 30. 1891. Revenue- I Expen ses- Divs. Rich. & Dan .. .... $467,620 Int. 6percentcol. trust . $330,000 Divs. E. T. 1st pref..... 175,664 Int. 5 per cent col. trust. 553,250, Divs. Cent. RR. of Ga.. 316,964 Interest on Ga. Co. 5 per Int. E. T. 1st mortgage. 18,000 cent col. trust . ........ 27,650, Various interest. ....... 281,6851 Divs. on pref. stock. . ... 249,850 Gen. and legal expenses 66,252'. Total .................. $1,259,933 Total ........ ... ... . ... $1,227,00~ Net for year.. . . . .......... . ...... . ....................... . .. $32,931 -(V. 52, p. 280, 322, 462; V. 53, p. 96, 224, 256, 408, 475,- 641, 674 Stocks. Bonds. 713,754,804,846,878,881,921,969; v. 54, p. 34, 79, 120.) E . Tenn.Va. &Ga. com. $5,880,000 Rich. & Dan. equip. 6s. $700,000 Kio Grande Junction.-Owns road from Rifle Creek, CoL, to a . 500,000 E. Tenn. Va. & Ga. Ext. Do 1st pref. 620,000 Do 2d pref. 2,311,000 Oxford & Hend. 1st M. 195,000 connection with the Rio Grande Western at Grand Junction, 62 miles_ 250,000 Rich. & Mecklenb. 2ds . 160,000 This is a connecting link in the standard-gauge route between Ogden, Blue Ridge & A.tl. pref. 325,000 Statesville & West. 1st. 300,000 and Denver and Colorado Springs. Leased by Colorado Midland and Oxford & Hend. com .. 414,840 Blue Ridge RR ....... . 299,000 Denver & Rio Grande at 30 per cent of gross earnings, whicb compauies. Rich. &W. P. Ter. com. 500,000 State of Georgia 312s .. 776,000 jointly and severally guarantee the bonds, principal and interest. Statesville & Western . 954,233 Other issues ..... _..... 1,227 Stock is $2,000,000; par, $100. (V. 51, p. 829, 830; V. 52, p. 204.) Virginia Midland com. 123,712 Various other issues . . Kio Grande Southern.-(See Map Denver cf: Rio Grande.)-Road Total bonds ........ $3,051,228 completed Jan., 1892, from Dallas, Col., on the Denver & Rio Grande.z-, Total stocks ........ $11,258,785 Tot. of bonds and st'ks.$14,310,014 southerly to Durango, 180 miles, _narrow gauge; 50 m~es :were OJ?enea Tbe 6 per cent trust bonds of 1887 may be redeemed on notice at any December, 1890, and 29 more m October, 1891. Built m the mtertime at 105 (see abstract of mortgage, 45, p. 575). They are a first est of the Denver & ~io Gral!de. Mortgage (trustee, Ce:J?-tral Trust lien on the following securities: Compan_y of New York) 1s for $~,000,000 at $25,000 per mile on road and eqmpment. Stock on 180 miles $4,500,000. See abstract of mortRioh. & Dan. stock .... $1,760,900 West. N. C. consols .... $1,325,000 ~age V. 54, p. 163. On 50 miles opened December, 1890, gross earn- E. T.Va. & Ga. 1st pref. 6,000,000 do 2d mort.... 4,110,000 mgs for 1<;) months ending October ~1, 1891, were $224,058; net,. Col. & Green. com... . . 1,000,000 - - - · - $130,224; mterest charge for same tune, $46,875. (V. 51, p. 143; do do pref.. . . · 1,000 Total par va1'le ...... $17,296,90(), v. 52, o. 322, 674.) Va. Midland stoc"'k. • •· • 3,100,000 ' Kio - Grande Western.-/ See Map.)-LINE OF ROAD-Owns CreThe consol. collateral trust 5 per cent mortgage of 1889 is for $24,- vass~, Col., to Ogden, Utah, 31q miles, to Alta, Bing_ham coal.mine~, etc.,. 300,000 (trustee. Central Trust Co.); $4,000,000 being reserved to retire 58 mil~s; San ;pete branch, ~~1stle to Manti, 60 .miles; f?evier Ra11:way tif deemed advisable) $5,000,000 preferred stock and $5,500,000 for (proprietary line-a.ll securities owned), Manti to Salin.a, 26 mi!es;.: the collateral trust bonds of 1887. The sinking fund of 2 per cent begins total owned~ 454 mile_s. Leas~s Crevasse .to ~ra:J?-d Juncti~n, 1? m~es. February 1, 1898, bonds to be drawn if not purchasable at par, and To~al operate~, 472 miles. _A. line to the Tmtic nu1;1es, 44 miles, 1s bemg bonds may be redeemed at par at any time on one month's notice. bmlt in the mterest of. this company l?Y the Tmt1c ~ange RR. Co. See V. 53, p. 59. The Rio Grande Junction Road, 64 miles, opened in (See abstract of mortgage in CHRONICLE, v. 49, p. 115.) The 5s are a second lien on the securities pledged for the 6 per cent November, ~890, affords a through connec_tion of standard gauge to the bonds and on $2,500,100 Richmond & Danville stock,pledged for the Den~er & R10 Grande and th~ Colorado Midland.-(See V. 51, p. 680.) preferred stock and a first lien on the following: Thls company was formed m June, 1889, to succeed the Denve!-' & ~io-, Grande Western, pursuant to the plan of March, 1889, for widenmg ' Georgia Co'y stock.... $11,990,000 N'east.RR.ofGa.g'n.M. 315,000 gauge and retiring old securities with new issues. See V. 48, p. 429. Char.C.& A.ug.RR.st'k. 1,300,000 do do stock. 120,&00 Tbe report of the reorganization committee issued in June, 1891, and, Va. Midland Ry. stock. 470,000 Rich.& Meck.RR.stock 300,000 published at length in the CHRONICLE, V. 52, p. 941, gave a full account. WesternN C. RR.,com. 3,160,000 Rich.& Dan. RR.stock. 708,100 of the improvements on the property since April, 1889. See abstract . do do pref. 3,160,000 E.Tenn.Va.&Ga.lstpf. $2,283,200 of mortgage (Central Trust Co., trustee) in V. 49, p. 237, and statement Ga. Pacific Ry. stock . . $4,370,000 do do 2dpf. 4,225,000 to New York Stock Exchange in full in V. 50, p. 73. Common stock do do incomemort. 1,397,000 Central RR. &Banking is $7,500,000; preferred stock authorized, $7,500,000; outstanding, Ga. Co. 5 p.c. col. trust. 3,447,000 Co. of Ga. stock...... 220,000 $6,160,000; :par, $100. Preferred stock is entitled to 5 percent dividend,. A.sh. & Spart.RR.2dM. 215,000 - - - - - non-cumulative, then common stock to 5 per cent, after which both. do do stock. 1,040,000 Total ...•..•••••.••••• $40,845,300 classes of stock share equally. Wash. O.& W. RR. inc.. $625,000 A.n increase in preferred stock from $5,000,000 to $6,250,000 was-. 4o do stock. 1,500,000 authorized in April, 1891, the new stock being taken by stockholders aw https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v. I ... ~ 0 tAi\11> ~ MAP OF THE ' . { RIO GRANDE· WESTERN A K Dl~~t RAILROAD & CONNECTIO 0 M w A z 0 ~ zA~ w ~ 0 0 ~ w A ~ 0 a ~ c-i Cl) rs., ~ 1>4~ ~p z-II ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t ~~ INVESTORS' SUPPLEMENT. 116 LVOL. LIV. Subscribers w-lll eonCer a great Cavor by giving Immediate notice of" any error discovered In these Tables. RAILROADS. For explanation of col~ headings, &c., see notes on:flrst page of tables. :~~;_W:~ Miles Date Size, or INTEREST OR DIVIDENDS. of of Par Ou~~~1hg Rate per When Where Payable, and ey Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. - - - - - - - - - - - - - - - - - - - - - - ) --- --- ____ ,______,_ ___ ---- -----------~------ Q.-F. N. Y., Gr. Cent. Depot. Feb.16,1892 d! Ogdensburg-Stock 5 p. c. guar. $100 $7,968,100 114 M.& S. do do 417,800 6 97 is55 100 &c. seyt. 1, 1910 lstM°fWat. & R.,Rome to Cape Vin.,s.f.,not di·'n.c* Ju y 1, 1922 5 g. .A.. & o. do 1,000 9,081,000 do Conso. mortgage, gold (int. guar., by N. Y. C.).c. 409 1874 July 1, 1901 45 1871 7 J. & J. do do Syracuse Northern 1st mortgage (gold) ......... c* 1,000 500,000 May 1, 1915 1,000 350,000 7 M.&N. do do Oswego & Rome-1st mortgage, guar............. 28 1865 May 1, 1915 5 g. F. & .A.. , 2a mortgage, gold, guaranteed by R. W. & O.ck do do 28 1891 1,000 400,000 Feb. 1, 1915 275,000 6&6 g. F. &.A.. do do 18 1885 Oswego Bri'ile and Syr. Ph. & Os. 1st mortgages 5 g. .A.. & o. Norwood & ontreal 1st mortgage, gold .......... 13 1886 .... 130,000 do do tfar. 1, 1916 ay 1, 1918 5 g. M.&N. 14 1888 1,000 375,000 do do It. W. & Og. Term. RR. Co. 1st mortg., g., ~ar.c* Sept. 30,1891 100 312g. M.& S. do do Utica&Bl. Riv. ~t'k,7p.c. perpet. gu. byR. .&O. 150 '68071 1,103,000 Jan. 1, 1894 J. & J. do do Black River & Morristown 1st mortgage ...... c 500,000 7 36 1874 500 &c. July 1, 1898 do 200,000 J. & J. do 16 1873 500 &c. 7 Clayton & Theresa 1st mortiage ............... c July 1, 1002 4 g. J . & J. do do 1,000 1,300,000 1st mort. on 98 tniles, 2d on 2 miles, g., guar.c* 150 1890 Rutland, Clem. Nat. Bk. Jan. 1, 1892 2 'Butlandr-Stock, pre;l'erred ........................... 120 100 4,239,100 M:·&:N. Bos.,Globe NatBk.&Rut Nov. 1, 1902 General mortgage (8..per cent, reduced to 6) ..... c 120 1872 100 &o. 1,500,000 6 .A.ug. 1. 1898 F. & .A.. do do 2d mortgage in exchange for equipm't bonds, &c.. c 120 1878 100 &c. 1,500,000 5 July 1, 1941 (1) New York City. 1,000 First consol. mort. for $3,500,000, gold. .. . . . c*&r 120 1891 \12g. J. & J. Sept. 1, 1921 M.& S. New York City. 1,000 190,000 8aginaw Tuscola & Htiron-lat mort., $5,000 p. m .c 67 1881 M.&N. Boston, Second Nat. Bk. l\Iay 1, 1902 Saginaw Valley d! St. Louis-lat mortgage ...... .. c 1,000 446,000 36 1872 8 .A.. & o. Boston, .A.m. L. & Tr. Co . Oct. 1, 1910 Bt. Johnsbury & Lake· Ohamplain-latM . ... ..•. c&r 120 1880 1,000 550,000 .A.pr. 1, 1914 1,000 91,000 Various Boston. Consolidated mortgage (for $1,000,000) ..•..... c* 120 1884 5& Bonds for $2,500,000 __ ............................ 120 (1) 4 6,998,000 6 g. M:·&·N. N. Y., Central Trust Co. May. i·; 1925 Bt. Joseph & Grand I.-lst M.,g.,int.guar. by U.P.c* 252 issi5 1:000 1,000 1,679,000 5 g. J. & J. Last paid July 1887. July 1, 1925 2d mort&a&e, income, ~old ...................... c* 252 1885 2,713,000 5 g . J. & J. N. Y., Central Trust Co. Jan. 1, 1927 Kan. C. . RR. lstM. $15, 000p.m.)f ,int.gu.c*&r 196 1887 500 &c. 1918 5 g. M.& S. New York. Bt.Louis.A.lton&Spring.-latM., g.($1 ,000p. m.)c* 1,000 As collateral 87 1887 June 1, 1909 ..... .... 1889 ·ioo As collateral g. --·--····· s?l:!1~~~'i~l/te·ii~:Uii,:..Pi: Jan. 10, 1889 1.655,800 ..... July 1, 1894, 2,200,000 seei-ein. N.Y., u. s. Trust Co. 1st M.(ser. .A..&B., each$1,100,000),s.f.,not dr'n.c* 207 1862 1,000 7 Bome Watertown 0 --·· ---- 6t- r stook(7 ·ouin:):con: ---- $65 per share. The proceeds of this issue were applicable to new equipment increased terminal facilities, etc. See V. 52, p. 499. Dividends on preferred stock-A dividend of 2 ½i per cent in preferred ,itock was paid February, 1891, and the first quarterly cash dividend of 114 per cent May, 1891; Aug. 1 also paid 114; Nov., 114. In 1892, February~ paid 1 14 per cent. See official statement on declaration of May diviaend in V. 52 1 p. 499. Price of common stock-In 1890, 151i>24 7s; in 1891, 231i>44; in 1892, to January 22, inclusive, 381i>41. Price of preferred stock-ht 1890, 401i>55; in 1891, 55141v757s; in 1892, to January 22, inclusive, 701i>7112. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $1,226,848, against $957,874 in 1 890; net, $502,802, against $393,67:5. Fiscal year ends June 30. Report for 1890·91 was in V. 53, p. 672, -674. 1889-90. 1890·91. Mileage..... . .... . ........... . . . . . . . . . . . . . . 369 404 Gross earnings . ..... . ..................... $1,622,234 $2,346,130 Total net income . . . . . . . . . . . . . . . . . . . . . . . . . . 520,686 856,783 Deduct- Interest on bonds .. ,.......... .. ........... Rental and miscellaneous................. Dividends........... .... ................... 393,500 11,143 ... .... . 535,500 15,144 255,369 Total............ . . . . . . . . . . . . . . . . . . . . . . . $404,643 $806,013 Surplus.... ...... .... .... . ... .. . . .......... $116,043 $50,770 ~(V. 50, p. 73,276, 422, 577, 801; V. 51, p. 207, 275, 680, 788; V. 52, J). 126,499,574; v. 53, p. 59,187,324,408,656, 6'72, 6'74. Roa'.noke & Sonthern.-In operation from Win~ton•Salem, N. C., tiia Walnut Cove, on Cape Fear & Yadkin Valley Railroad to Martinsville, Va., 60 miles. Under construction from Martinsville to Roanoke, Va., 62 miles-to be completed in December, 1891. Projected also southerly: to South Carolina State line. The :first mortgage (trustee Mercantile Trust & Deposit Co., of Baltimore) is in three series. each ries having a first lien on one division of the road and a second lien the two other divisions under the mortgage. Series ".A." nds are a :first mortgage on road from Winston•Salem, N. C. to Mar• tinsville, Va., 60 miles; series "B" on road from Martinsville to Roanoke, 62 miles; series " C" on projected line to South Carolina '6tate line, about 58 miles. Capital stock anthorized $8,000,000; outetanding $974,000; par of shares, $100. Rochester & Genesee Valley,-Owns from Avon to Rochester• J'.i. Y., 18 miles. Leased July 1, 1871, in perpetuity, to Erie Railway. Rental, $34,012. James Brackett, President, Rochester, N. Y. . Kock Island & Peorla.-Owns from Rock Island, Ill., to Peoria, Jii. 91 miles; Rock Island & Mercer County Railroad, 22 miles; total, 1.13 miles. The Peoria & Rock Island was sold in foreclosure April 4, 1877, to the bondholders. In year 1889·90 gross earnings were $655 106; net, $345,321; surplus over interest, taxes, &c., $285,584; dividends, $75,000. President. R.R. Cable. Rome Watei·tow-n & o~densbnrg.-( see Map New York Oentral & Hudson River Railroad.)-Owna from near Niagara Falls to Massena Springs, N. Y., 299 miles, less 28 miles, Richland to East Oswego, leased from the Oswego &Rome RR.; Richland to Rome.41 miles; br.anches to Cape Vincent, Ogdensburg, Pulaski, Fulton, etc., 109 miles; total owned, 421 miles. Leases Utica & Black River Railroad, Utica to Ogdensburg, and Clayton branch, 150 miles; Oswe?.o & Rome Railroad ~s above, 28 miles; Carthage Watertown & Sackett s Harbor Railroad, Carthage to Sackett's Harbor, 30 miles; tracka~e-to Niagara Falls, 2 miles; Fulton to East Oswego (New York Ontario & Western Railway), 12 miles; total leased, 222 miles Total operated, 643 miles. In March, 1891, leased during the full term of its corporate existence and renewals thereof to the New York Central & Hudson River RR. Co., which assumes the debt and guarantees 5 per ceTJ.t on the stock. The stockholders received a stock dividend of 20per cent. For wording -Of guaranty see V. 52, p. 463. Stock authorized $10,000,000. The Utica & Black River is leased in perpetuity, interest on bonds and '7 per cent on stock being guaranteed. The consolidated mortgage bontl.s of 1890 are guaranteed, principal and interest, by the Rome Watertown & Ogdensburg. See V. 50, p. 771. Dividends from 1887 to February, 1891, both inclusive, at rate of 6 J'er cent yearly ; March, 20 per cent in stock ; in May and thereafter 5 per cent per annum guaranteed. The Oswego & Rome road is leased in perpetuity, and the second mortgage bonds guaranteed 'by Rome Watertown & OgdensbU1·g by endorsement. Earnings are included in those of the lessee. From July 1, 1890, to March 31 (S months), gross earnings were $2,804,258, against -$2,945,259 in 1889·90; net, $1,218,106, against $1,333,139. Surplus -0ver charges, $473,187, against $587,366 in 1889. In year ending June 30, 1890, gross earnings were $3,904,966; net Income, $1,696,028; surplus over fixed charges, $641,405, against .$393,632 in 1888·89. (V. 51, p. 207, 241,681; V. 52, p. 39,322,463, 498,796; V. 53, p. 793.) Rntland.-Owns from Bellow's Falls, Vt., to Burlington, Vt., 120 tniles. This road has been through many changes. In 19go a new lease or 999 years from January 1, 1891, was made to the Central Ver• mont the rental being $345,000 per annum; this will be increased by t https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $25,000 per annum as new equipment and other permanent improvements are put upon the property during the next three years, making the rental $3701000 per annum, payable monthly in gold. The net in• come will pay 4 per cent on the preferred stock now, and after the funding of existing mortgages should pay 5 per cent. As to lease, &c., see V. 53, p. 124. The 5 per cent second mortgage bonds are a first mortgage on rolling stock and personal property. .A. consolidated mortgage for $3~500,000 has been issued to provide for the retirement of prior liens, wnen due, and for equipment and improvements. See V. 53, p. 124. The Del.& Hudson owns $3,000,000 of the preferred and $1,000,000 of the $2,480,600 common stock, par $100. Dividends on preferred stock since 1880In 1881, 112 per cent; in 1882, 2; in 1884 and 1885, 1; in 1886 and 1887, 112; 1n 1888, 1; in 1889, 112; in 1890, 3; in 1891, 2; in 1892, January, 2. (V. 51, p. 910; V. 52, p. 41, 239, 940; V. 53, p. 124.) Sag:lnaw- Valley & St. Lonis,-Owns from Ithaca to Pains, Mich., 36 miles, and leases Alma to St. Louis and Pains to Saginaw, 9 miles; total, 45 miles. Opened January, 1873. Stock authorized, $300,000; outstanding, $264,804; par, $100. In 1890, gross, $103,706; net, $49,385; rentals, $7,000; interest, $35,680; surplus, $6,705. Deficit under interest in 1889, $3,369. Controlled by Detroit Lansing & Northern. St, Johnsbury & Lake Chami;,Ialn.-Owns from Lunenberg, Vt., to Maquan Bay, on Lake Champlam, 120 miles, and branch from North Concord, Vt., to East Haven, 11 miles; total, 131 miles. This was the Portland & Ogdensburg, Vermont Division, reorganized under present title in 1880. Preferred stock, $1,298,500; common stock, $2,550,090; par $50. In September, 1890, $2,500,000 of 4 per cent bonds were authorized to fund floating debt, (which on June 30, 1890, amounted to $1,170,528), and for other purposes. Operated by Boston & Maine. In year ending June 30, 1891,grossearnmgswere $86,493; deficit, $3,364; interest, &c., $38,050; deficit, $41,414, (V. 51, p. 345.) St. Joseph & Grand Island.-(See Map of Union Pacijlc.)LINE OF ROAD-St. Joseph, Mo., to Grand Island, Neb., 252 miles; Kansas City & Omaha Railroad, Stromsburg to .A.lma, 151 miles, and McCool Junction to Kansas City & Omaha Junction, 44 miles; total, 447 miles. Successor of the St. Joseph & Western, sold in foreclosure in 1885. Operated by the Union Pacific, which owns $2,301,500 of the $4,600,000 stock (par, $100), and guarantees the interest on the first mortgage bonds. Kansas City & Omaha bonds have interest guaranteed by St. Joseph & Grand Island and Union Pacific under a perpetual agreement for operating the road. The Union Pacific owns $1,182,500 bonds and $1,725,375 of the $4,410,000 stock of the Kansas City & Omaha1 and St. Joseph & Grand Island owns $413,000 of the bonds ana $1,822,500 stock. In Jan., 1892, a newadjustmentwasmadewith Union Pacific by which $35,000 is deposited monthly for interest on the 1st mortgage bonds, and the St. Jos. & G. I. is not responsible for more than half the interest on the K. C. ·& Omaha 1st mortgage bonds. (V. 54, p. 79.) From January 1 to Nov. 30, 1891 (11 months), gross earnings were $828,985, against $1,190.726; net, $179,881, against $360,006. In 1890 gross earnings, including Kansas City & Omaha, $1,253,592; net, $355,454; total net income (including amount received from Union Pacific under traffic agreement, etc.), $447,538; interest on bonds, $420,000; corporate expenses, $2,196; due K. 0. & Omaha under traffic agreement, $83,125; deficit for year, $57,783. (V. 51, p. 570.) st. Louis Alton & Sprlngfl.eld.-Owns Bates, m., to Alton, m., 87 miles. Uses Wabash track to Springfield, 13 miles, but road to be built to that point. In October, 1890, Joseph Dickson of St. Louis was appointed receiver, and in December he was permitted to issue $300,000 of 6 per cent receiver's certificates, payable in one year. See V. 51, p. 830. Reorganization is proposed. First mortgage bonds for $1,200,000 and 2d mortgage bonds for $300,000 are outstanding as collateral. Stock authorized, $1,500,000; par, $100. Trustee of mortgage, Farmers' Loan & Trust Company. In year 1889·90 gross earnings were $115,712; net, $8,184. (V. 50, p. 632, 669; V. 51, p. 570, 830.) st. Louis Alton & Terre Haute.-Proprietary line, East St· Louis to Belleville, 14 miles. Leases: Belleville & southern Illinois Railroad, Belleville to Du Quoin, Ill., 57 miles; Belleville & Eldorado RR., from Du Quoin to Eldorado, 50 miles; Belleville & Carondelet RR., from Belleville to East Carondelet, 17 miles; St. Louis Southern, Pinckneyville to Carbondale, Ill., 31 miles; Carbondale & Shawneetown, Carbondale to Marion, 1 7 miles; Chicago st. Louis & Paducah, Marion to Paducah, and branch, 53 miles; total operated, 242 miles. In October, 18901 the main line from East st. Louis, m., to Terre Haute, Ind., 189 nnles, and branch, 4 miles, which had theretofore been leased to the Cleveland Cincinnati Chicago & St. Louis, were sold to that company for $10,000,000 of 4 per cent l00•year gold bonds. See v. 51, p. 52, 114,383,494. The sale of the main line did not affect the status of this company's securities. Of the $10,000,000 bonds received, $250,000 were placed in a sinking fund for the issue itself (bonds to be purchased, not drawn, at or under 105), and $7,000,000 are reserved to retire the bonds ma,turing in 1894. Of the $2,750,000 bonds immediately at the disposal of t.he com~any, $2,500,000 were offered to the holders of the preferred stock, bemg sufficient to retire all but $800,000 thereof, at the rate of $150 in bonds for $100 of stock. To Jan. 1, 1892, $812,600 of preterred stock and fraetionals had been retired, leaving $1,513,000 bonds m the company's treasury. See V, 52, p. 42, 81, 351, 499 JANUARY , RAILROAD STOCKS AND BONDS. 1892.J Subscribers will confer a great Cavor by giving lrnrnedlate notice oC any error discovered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Bonds-PrlnoiINTEREST OR DIVIDENDS. Miles Date Size, or When Due. Amount Rate per When Where Payable, and by pal, of of Par Stocks-Las, Road. Bonds Value. Outstanding Cent. Payable Dividend. Whom. --- St. Louis Alton & Terre Haute-(Ooncluded.)- 2d mort.,pref. (series C & D,each $1,400,000). c* 2d mortaage, incomes ................... .. . .. .. c• Dividen bonds, incolll:e (see V. 48, p. 389Ji ... ; Belle. & So. m.-lstM. (mt.frua-r.) s.f.,not n.c Belleville & Carondelet, 1st .,Belle.toE.Caron.c* Belleville & El Dorado-1st (int'estguaranteed)c* 1st mori:, ·iioi<i: guar::: ~: sl1::1J~t-!ttern-.:_ ·hit." 2d mo~agi income, non-cumulative ........ c* Carbon ale Shawneet'n 1st M. g.,int. guar.c* Chic. St. L. & Paducah 1st M., g.r'd at 105 ~uar.c* 2d mortga~e, gold, income (non-cumulative). c* St. Louis d Oairo-lst mort. int. guar. M. & 0., g .. c St. Lou. Oape Girard'u & Ft. Smith-Old div. bonds Cape Girardeau S.W. consol. mortgage .... ... gold Arkansas Extension 1st mortgage ......... c* &r St. L. Cape Gir. & Ft. S. gen. M. for $7,500,000 St. Louis Merchants' Bridge Terminal.-lst mor .. c Merch. Bri,e lst M., re .after Feb.1, 1909, at 110 St. L. & San an.-SeeAtchison T. & S. Fe system. St. Louis Southwes1e1..,i-Common stock ............. Preferred stock (5 per cent non-cumulative) ...... 1st mort. certificates, $16,500 p. m., gold ...... c* 2d M.income cert., for $10,000,000,non-cum.,g.c* Cartrusts ........................................... St.Louis Van. dTerreH.-lstM., s.f. uar. not dr .c* 2d mort., sink. fund, not dr'n ($1,60 ,000 guar.). c* f" .. 6 207 207 0 5°6 16 50 50 31 31 17 53 53 161 ·-·· 102 65 167 .... ...... ..... ..... ---· ..... .... 158 158 1862 $1,000 1862 1,000 1881 1,000 1866 1,000 1883 1,000 1880 1,000 1880 1,000 1886 1,000 1886 1,000 1887 1,000 1887 1,000 1887 1,000 1886 500 &c .... 1880-5 1,000 1888 1,000 1890 1891 1,000 1890 500 &c. 1889 1,000 $2,800,000 1,700,000 1,357,000 1,015,000 485,000 220,000 330,000 550,000 525,000 250,000 1,000,000 1,000,000 4,000,000 111,000 889,000 175,000 2,500,000 1,750,000 2,000,000 100 ..... 100 ·--· 1,000 1890 1890 500&c. 16,500,000 20,000,000 20,000,000 8,000,000 602,849 1,899,000 2,600,000 ---- 1867 1868 i,°<)00 1,000 Of the $2,200,000 Series A and B bonds ~ven in the table above as outstanding, $1,087,500 on .July 1, 18l:11, were held alive in the sinking fund. Interest on 1st mortgage, series "A," is paid .January and .July; series "B," April and October; on 2d mortga~, series "C," February and August; series "D," May and November. H.olders of the St. Louis Alton & Terre Haute 7 per cent bonds have the right at stockholders' meetings to cast 10 votes for each of their $1,000 bonds. The Belleville & Southern Illinois is leased to this company for 999 years from October 1, 1866. Lease rental 40 per cent of gross earnings up to $7,000 per mile (except on coal, &c.), 30 per cent above $7,000 and up to $14,000 per mile, and 2~J?:{; cent on any excess of $14,000 per mile. Interest on bonds and s · · g fund of $5,000 per year guara.nteed by lessees. Common stock of Belleville & Southern Illinois is $430,000 and preferred $1,275,000, and dividends on prefen-ed stock since 1880 have been-419 in 1881; 519 in 1882; 614 in 1883; 5¼ in 1884; 5 in 1885; 5 In 1886; 6~ in 1887; 6~ in 1888 and 1889; in 1890, 820 ; in 1891, 8. The Belleville & Carondelet is leased for 983 years from .June, 1883, at a rental of $30,000 per year, which is a guarantee of interest on the bonds, the s~ock of $500,0<;)0 being owned by the St. L. Alt. & T. H. The Belleville & Eldorado 1s leased for 985 years from .July 1, 1880, at a rental of 30 per cent of the gross earnings, but $15,400 per year guaranteed. Stock, $1,000 000; par, $100. The St. Louis Southern Railroad (including Carbondale & Shawneetown) is leased for 980 years for 30 per cent of gross earnings, minimum to be $32,000, and interest on bonds being guaranteed to that extent. The Chicago st. Louis & Paducah Road is leased for 978 years from Mareh, 1888, at 30 per cent of gross earnings, with guarantee of principal, and rental to pay first mortgage interest. (V. 47, p. 801.) The :first mortgage bonds on this road are redeemable after September 1, 1892, at 105. st. L. Alt. & T. H. dividend bonds are not entitled to receive anything for principal or interest until all arrears of dividend upon the preferred stock and other prior legal claims shall have been adjusted, and a sur plus of annual earnings reached which will be applicable to such divi dend bonds. see v. 48, p. 389. The preferred stock has a prior right to a cumulative dividend of 7 per cent before any is declared on common and the arrears accrued to .Jan.1, 1891, amounted to 3714 per cent, or $944,163. The preferred stock is also convertible into common at par. Common stock is $2,300,000; par, $100. Dividends on prefeITed stock since 1876.-In 1878, 2 per cent; in 1881, 3 and 55 in bonds· from 1882 to 1885 inclusive 7· in 1886 2½r in 1887 nil; in 1888, 114; in 1889, 1. ' ' ' ' ' ' From .January 1 to October 31, 1891 (10 months), gross earnings on branches were $1 173 620 against $1 087 906 in 1890. net $497 084 against $460,381: ' ' ' ' ' ' ' ' The annual report for 1 890 was in v. 52 p. 717. ' GENERAL FINANCIAL RESULTS. 1887. 1888. 1889. 1890. $ $ $ $ Gross earnlngs ................ 962,480 949,307 1,110,426 1,336,910 Net earnin~s ........ . .... . ..... 441,401 400,796 461,748 527,767 Rentals paid ... . .... . ...... ... . 255,883 249,936 332,095 362,149 7 7 6 8 6 7 6 4 5 4 5 5 g. g. g. g. g. 6 g. 6 6 g. 5 6 i Seerem. M.&N. .June 1 A. & 0. .J. & D. .J. & .J. F. & A. M.& S. M.& S. M.& 8. M.& 8. M.& s. .J. & .J. M. & s. M.& 8. .J. & .J. .J. & .J. .A. & o. F. & A. . .... .July 1, 1894 .July 1, 1894 After .Jan.,'94. N. Y., State Trust Co. Oct. 1, 1896 .June 1, 1923 do do .July 1, 1910 do do Pd.in '91, coup. Feb680 Aug. 1, 1920 N. Yd State Trd~t o. Sept. 1, 1931 Sept. 1, 1931 0 Mch. 1, 1932 do do Sept. 1, 1917 do do Sept. 1, 1917 None yet paid N. Y., Farm. L. & Tr. Co. .Jan. 1, 1931 N. Y., Coffin & Stanton. Sep.1900-1-2-5 Sept. 1, 1908 do do .Jan., 1910 do do .July 1, 1919 do do New York & St. Louis . Oct. 1, 1930 N. Y., Farm. L. &Tl·. Co. Feb. 1 1929 N. Y., U. S. Trust Co. do do .-- ··- -----· '"' " ..4.g. M:·,fN . N. Y., Centrai"Trust Co. .J. & .J. After '90, when earned. 6& .r:·&··.r. N. Y., CentraiTrustCo. 7 do do M.&N. 7 4,,. .... --. 1: Nov.· "i989 Nov. 1, 1989 1892 to 1897 .Jan. 1, 1897 May 1, 1898 Iroad at not over $15,000 per mile, and for improvements upon the present line at not over $3,000 per mile. There are also outstanding I$150,000 7 p er cent incomes. In 1890 gross earnings, $165,807; net.$85,677; in 1889, gross, $146,507; net, $76,431. President, Louis · Houck, Cape Girardeau, Mo. Total net receipts ......... 637,957 603,400 St. Louis Iron Mountain & Southern.-SEE MISSOURI PACIFIC~ St. Louis Merchants' Bridge Terrnlnal.-This company has under construction a double-track railroad in the city of St. Louis, extending from near the Union Depot on 12th Street, via Main Street, Hall Street, &c., to Ferry Street, opposite the Merchants' Bridge, etc. It leases the Merchants' Bridge, agreeing to pay the interest on tlleBridge Co's $2,000,000 bonds; it owns and controls the Electric City & lliinois RR., connecting the town of Madison and East St. Louis; and it leases the Venice & Carondelet Belt RR., which forms an outside belt around East St. Louis. Extensive yards and terminal facilities will bemaintained in St. Loui,s and East St. Louis. The mortgage is for $3,500,000 to the St. Louis Trust Company, and covers all the property of the company. Stock authorized, $3,500,000; outstanding, $1,001,100 par, $100. General office, St. Louis, Mo. C. C. Rainwater, President · St. Louis & San Franclsco.-SEE ATCHISON TOPEKA & SANTA FE ... • . , . St. ;r:.,ou1~ South-w-estern.-Road extends fr~m BITd s Pomt, Mo. ,. opposite Carro, ill., to T~xarkana, ';l'ex., 418 mil~s, ~nd thenc~ by the Texas road to Gatesville, 305 miles; .total, mam line, 723 miles; branches, Mt: Pleasant_to Shermap., 115 miles; Tyler.to Lufkin (narrow,.. gauge), 89 miles; qors1cana ~o J:Iillsboro, Tex., 42 miles; Commer<?e to Fort 'Yorth, 10~ miles; Lewisville, Ar~., to Shreveport, La., 60 mil es;. ~thermer to Little Rock, ~rk., 43 miles; Malden, Mo., ~o Delta, 51 mile~; other bra1;1ches, 12 miles; total, .J~e, 1891, 1,244 miles. This compa~y 1s successor to the St. Lou,,s Arkansas & Texas, whoa& oad was s~ld m foreclo sure ip. October, 1890, the same properi!y h a ~ oeen previously foreclosed m 1885-86- See plan of reorgaruzatiop. _m CHRO~ICLE, V. 50, pp. 141 and 561. le May, 1891, the new securities. were issued._ S~e V. 52, ;P· 796. ··~, . . The orga1:11zat1on consists of t~ee oo. - . rat10ns.-tp.e St. Loma Southwestern Railway Co., the St. Loms So:it.c.•.testern Railway Co. of Texas. and the Tyler Southeaster~. . . . The :first mortgage certificates are issued agamst _a like aggregateamoun~ of :first mortgage ]?onds secured upon these lines at a r~te not exc~edmg $16,500 per mile, and the second . mortgage certificates agamst seco?Id mortgage bond_s at $8,250 per rmle. . The new 1~comes will receive fi:om .January 1, 1891, such mterest, payable semi-annually, not exceedi:J:!.g 4 per Ce:J:!.t per annum, ~scan bepaid out of net earrungs of ~he railways duru1:g the preceding fiscal year, after payment of oper!l'tmg expens~s, r~parrs, ren~wals, replacemen~s, taxes, rnsura~ce and rnterest on prior liens. ?-'he issue o~ t1=1ese certificates may be mcreased up to $10,000,000, subJect to restrictions in the mortgages as to their issue and application of the proceeds. From .July 1 to D ec. 31, 1891 (6 months), gross earnings were reported at $2,712,372 (November and December partly estimated) and net, $787,253, l ess taxes, $52,000. (See V. 54, p. 34). Earnings of the road while in the hands of the receiver were aa follows, large expenditures for iron oridges, steel rails, &c., being include~ in operatmg expenses. (See V. 52, p. 322.) 129,653 165,618 1889. 1890. Inc. or Deo. 4::,2,729 *440,412 $ $ $ Gross earnings ............ 3,876,285 4,102,142 Inc. 225,857 582,382 606,030 * Operating expenses ...... 3,289,226 4,844,124 Inc. 1,554,897 Interest on funded debt ....... 469,000 New equipment, taxes, &c .... 169,962 469,000 69,182 469,000 94,078 Net revenue ............... 185,518 Add rental of main line, etc .. 452,437 Deduct- Total deductions .......... 638,961 Balance .•................. def.1,005 150,860 452,540 538,182 65,218 563,078 19,304 469,000 146,996 615,996 df.9,966 * Including interest on C. C. C. & St. Louis bonds in 1890. -(V. 51, p. 52,114,383,459,494; V. 52, p. 42, 81,351,499, '71 '7.) St . L o uis A.rkansa s & T exas.-SEE ST. LOUIS SOUTHWESTERN. St. Louis & Calro.-Owns Cairo to East St. Louis and branch, 161 miles. The former Cairo & St. Louis made default April 1, 1874, and was sold in for1tclosure .July-1 1881. Stock is $6,500,000. In .January, 1886, a lease was negotiatea. till .January 1, 1931, to the Mobile & Ohio Railroad on the basis of a rental of 25 J?er cent (!0011 , o) of the gross revenue of the whole line, Mobile to St. Loms, this rental being guaranteed by the lessee to amount to $165,000 per year. In year ending .June 30, 1890, gross, ~727,095; net, $159,939 caitainst $144,487 in 1888-89); rental to St. Loms & Cairo, $172,127. See v. 51, p. 830. St. Louis Cape Girardeau & Fort Srnlth.-( See Map.)-Owna from Cape Girardeau, Mo., to Hunter, Mo., 94 miles; Cam:J?bell, Duncan Co., to Kennet, 20 miles; leases branch to Zalma, 9 miles; total operated, 123 miles. Successor to the Cape GirarQciau Southwestern; name changed in May, 1891. The road is to be extended 45 miles from Hunter to Monmouth Springs on Arkansas State Line, and a branch is to be built from Puxico to Campbell, 30 miles. .An extension is also projected to Fort Smith, Ark. Stock authorized, $2,000,000; outstanding, $1,150,000; par, $100. A general mortgage of $7,500,000 has been authorized, $1,325,000 of this amount to be deposited to retire the underlylng issues at maturity. Balance to be issued for construction of new https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Net earnings........... 587,058 def.741,981 Dec. 1,329,040 * Betterments and extraordinary expenses (included in operating expenses above) were $1,464,902 in 1890,_ against $363,506 in 1889. -(V. 51, p. 21, 114, 207, 570, 609,830, V. 52, p. 121,322, 643, 967. 902; v. 54, p. 34.) St. Louis Vandalia & T erre Haute .-(SeeMap Pittsburg Oincinnati Ohicago & St. Louis.)-Owns from East St. Louis to Iniana State line, 158 miles. Road opened .July 1, 1870. Leased to the Terre Haute & Indianapolis RR. (for account of itself and the PittRburg Cincinnati Chicago & St. Louis RR.) at a rental of 30 per cent of gross earnings. In 1889-90 it was agreed that in future the profits and losses from operatin.,. this road should be divided between the lessees in th& proportion of Iive-sevenths to the Pittsburg Cin. Chic. & St. Louis and two sevenths to the Terre Haute & Indianapolis. In 1890 a general settlement of ola. accounts was made with the T erre Haute & Indianapolis, under which this company received $287,157 in cash and 5per centnotesfor $657,665,payable$25,000 monthly from .August 1, 1890. In .July, 1887, suit was brought by the lessor company to declarethe lease void, but .Judge Gresham decided in favor of its validity.. and the case has been appealed to the U.S. Supreme Court. A decision is hoped for during the October, 1891, session. The firs mortgage and $1,600,000 of second mortgage bonds are guaranteed by the lessees, and also by the Pittsburg Cincmnati Chicago & St. Louis RR. Stock, $2,379,358 common and $1,544,700 of 7 per cent cumulative pref. ; par $100. The Terre Haute & Indianapolis owns $326,00<> preferred and $500,000 common stock, and the Pennsylvania RR. holds $837,000 preferred and $225,0,)0 2d mort. convertible 7s. In April. 1891, there was applied to the payment of all the accumulated dividends on the preferred stock up to Dec. 31, 1878, the sum of $-177,010. and in October, 1891, the back dividends were paid for 1879 and 1880. INV.ESTO RS' SUPPLEMENT. [VOL. LlV. M go Bis Salem %,_, Ir.on.Hill <<,,,. ,s,(, ~b,-1, 1,->-~ , Ji'ore11t VICKS, I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J.llUA.RY, 1892.] https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 119 RAILROAD STOCKS AND BONDS. AND ARANSAS PASS RAILWAY AND CONNECTIONS. • INVESTORS' SUPPLEMENT. · 120 [Vo.c.. LIV. Subscrib ers w-Ul confer a great favor by giving Im media te n otice of any erro r disco vered I n t h ese Tables. RAILROADS. For explanation of column headings, &o., see notes on first page of tables. · St. Paul cl .Duluth-Common stock. _- .. - - ......... - - • Preferred 7 per cent stock and scrip ... _. _ ........ 1st mortgage.····--·----- ____________ ·----- ______ c* INTEREST OR DIVIDENDS. IBonds-PrinclMiles Date Size, or .. pal,WhenDue. of of Par 1 i o ~ Rate per When Where Payable, and by Stocks-Last O Road. Bonds Value. u, s an g Cent. Payable Whom. Dividend. ---· ---· i6i $100 $4,660,207 3 & 15 st N. Y., Of., 32 Nassau St. 100 5,194,910 See rem. M:·&:·s. do do iss1 1,000 F. & A.. do 1,000,000 5 do 1887 1,000 do do 2,000,000 A.. & 0. 5 1884 1,000 do do 210,000 6 J. & J. 1886 1,000 M.& 8. do do 500,000 5 do do 1870 GOO &c. 262,500 J. & D. 7 167 i~~i:.!~f~s-&-iake ~i 21 25 Duluth Short L. lstM, ~ar.,cum.,s.f. not dr'n.c* Stillwater & St. Paul ls mort., g. (not guar) ... _- . 12 St. Paul Minn. & Manitoba-See Grea~ Northern8t.Paul<1No.Pacijie'.-Stock($lO,OOO,OOO)authoriz'd 184 100 Western RR. Minn. 1st M. RR. covered by gen. M. 6012 i877 1,000 General mortg., guar., land fr. ($10,000,000).c*&r 218 1883 1,000 San .Ant. & .Aransas Pass-ls M., g., red. at 110.c" 152 1885 1,000 1st M., exten., 5iold ($12,000 p. m.) red. at 110.c* 372 1886 1,000 1st M. for $9,0 0,000, gold, $15,000 per mile .. c* 115 1888 1,000 2d M., g., income for 5 years, $8,000 per 1111le. __ . 639 1888 1,000 Rolling stock lease warrants. _____ . _____ .. ___ - .... --·· ...... .Sandusky Mansfield & N ewa1·7c-Re-orianized stock 116 ifo lstM .. int. gu.underleasebyB.&O.an Cent.O ... c* 116 i869 1,000 .San Fran. & No. Pac.-lst M.,g.($4,500,000)s.f.c*&r 162 1889 1,000 .Savannah .Americus & Montgomery-1st morts .. _... ---· 1885-6 500 Consol. mort.,aold, $12,000 permile,$4,100,000 c* 184 1889 1;000 ,IJavannah Flori a & West.-Stock ....... _..... _.... _. 100 ---A.t. & G. consol. mort.... _. _. _... __ ........... __ ., c* 347 1867 500 &c. .So. Ga. & Flor., 1st Ms., end byStateofGeorgia.c* 1,000 58 1869 2d mortgage. ______ -····· . ---- ••. _......... ____ .c 1,000 58 1869 siii>.: 1st iu~: a: r: not iir:~: 00 In year ending Oct. 31, 1891, gros~ earnings. were $11 808,309 ; rental to Bti. L. V. & T. H., $542,492, and mt. on bills receivable, $14,052; total income, $556,545; less charges, $365,629 1 leaving surplus, $190, · :916; paid div. for 1880 on pref. stock (7 per cem), $693,267; balance deiflcit of year $502,352. General surplus Oct. 31, 1890, $1,078,025, and Oct., 1891, $575,673. In 1887-8 profit to lessee was $11,983; in '88-9, ,$56,987; in 1889-90 profit $100,466 ; in 1890-91, $62,431. (V. 50, p. 242; v. 52, p. 2'18, 832.) St. Paul & Duluth.-Owns from St. Paul, Minn., to Duluth, Minn., 155 miles; branches to Clocquet, Grantsburg and Sandstone, 28 miles; J.eases-Stillwater & St. Paul Railroad, 13 miles; Minneapolis & Duluth Railroad, 13 miles; Taylor's Falls & Lake Superior, 20 miles; Duluth ,Short Line, Thompson to Duluth, 18 miles; other, 3 miles; total 248 miles. Between North Pacific Junction & Duluth, 24 miles, the road :is owned jointly with the Northern Pacific. The Lake Superior & Mississippi Railroad was sold in foreclosure May ·1, 1877, and this company organized June 27. The preferred stock is \l'eceived in payment for lands at par. Three shares of common stock ha.ve one vote, and each share of preferred has one vote. Preferred stock has a prior right to 7 per cent; then common to receive 6 per cent. In July, 1891, $175,000 of net proceeds from land and stumpage was applied to the retirement of $182,000 preferred stock. See V. 53, p. 157. Dividends on common stock: In 1887, 3 and 15 in common stock; in 1888 and since, nil. Dividends on preferred since 1880: In 1881, 10 '6tock; in 1882, 312 in cash; in 1883, 7; in 1884, 312 and 7 in preferred <Stock; from 1885 to 1888, 7; in 1889, 512; Jan., 1890, 212; Sept. 4; in 1891, March, 212; Sept., 412. The second mortgage covers the right to leased lines, but not the land grant. The company has a land grant, of which 1,068,855 acres remained un.:f30ld June 30, 1890, and 65,441 acres of the Taylor's Falls branch. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were '$940,344, against $758,375 in 1890; net, $399,713, against $314,500. Fiscal year ends June 30. ReportlsU~~?-91 'rnii~96. 53, Piffl-in. $ Gross earnings .. _. ___ .. ___ ..... _.. 1,406,865 -Operating expenses and taxes .... 1,052,394 $ $ 1,410,527 1,017,458 1,621,939 1,071,192 354,471 402,178 393,069 415,566 550,747 575,893 78,890 119,702 295,040 20,218 82,003 150,000 134,117 26,912 93,548 150,000 348,749 31,900 Total·-·-----·---·-----------·· 513,851 Bal.from RR. operations ...... def.111,673 111,596 393,032 sur. 22,534 192,848 624,197 def. 48,304 249,546 Net earnings---· ________ ... _.. Total net income_ .... _... ___ .. Disbursements- "Rentals. ___ . ______ .... __ ..... __ ... _ Interest on bonds_. __ ... _____ .... . Dividends .. _.... ____ .... __ . ___ .. .. ::Miscellaneous ... _....... _.... _. __ _ Eects. from stumpage and lands. Balance. __ .. __ .. __ . ___ ...... __ def. 77 sur. 215,382 sur. 201,242 v. 53, p 157. 56'1.) St. Paul lliinneapolls & llianltoba.-See GREAT NORTHERN. ~- Paul & Northern PacUic.-LINE OF ROAD-Brainerd to minneapolis, 139 miles, and branches to St. Paul, &c., 79 miles; total, '.218 miles. Owns terminals in Minneapolis on 20 acres, and owns in all me 400 acres about St. Paul and Minneapolis. The land grant (197,388 .;acres unsold March 1, 1890,) is between Brainerd and Sarik Rapids; pro--0eeds of lands are first applied to purchase of Western Minneapolis bonds, then to general mortgage at 120 or under. The road, with its -terminal property, is leased for 999 years to the Northern Pacific, at a net rental equal to 40 per cent of the gross receipts, but any surplus ,over 6 per cent on stock is divided equally between lessor and lessee. The bonds are guaranteed by Northern Pacific. Interest on coupon ibonds is payable F. & A..; on registered bonds, Q.-F. The stock is wlaced in trust with the Farmers' Loan & Trust Company, but power to vote is in the Northern Pacific Company; "beneficial certificate~" entitling holders to dividends, are issued. Of the stock $3, 752,nOO is owned byNorthern Pacific. Dividends from 1883 to A.u~,,1891, inclusive, 6 per cent· 1>er annum, and in 1891 by diVLsion of surplus 6 per cent extra. In year ending June 30, 1890, gross earnings -were $2,052,099; rental from Northern Pacific, $740,652; other rentals, .&c., $,161,274; total net income, $901,926, from which paid interest, &c., $538,803; dividends, $330,000; total payments, $868,803; surplus, :$33,123.-(V. 49, p. 23,540; V. 51, p. 535.) San Antonio & Aransas Pass.-(See Map)-Ownsfrom Kerrville to Aransas Bay, Texas, 221 miles; Kenedy to Houston, 176 miles; Yoakum to Waco, 165 miles; Skidmore to A.lice, 43 miles; Shiner to Lockhart, 55 miles; branches to Corpus Christi, &c., 22 miles ; total, --682 miles. Company was un able to meet July, 1890, in-;.terest, and on July 14, B. F. Yoakum, Vice-President, and J. S. Mo.Namara were appointed receivers. See V. 51, p. 21, 85, 207. In June, 1891, r eceivers' certificatesfor$350,000 were authorized, to be used for -the immediate completion of 54 miles on the Waco Extension, which -was finished in Oct. For the report to the bondholders on the condition ~of the property see V. 51, p. 345. The reorganization committee is F. P. Olcott, Joseph Wharton, Henry Budge, E. P. Swenson, A.. S. .Heidelbach, J. Kennedy Tod and Fred. Cromwell. Their plan of rerganization was published in March, 1891 (see V. 52, p. 464), and pro.des as follows : ··-· . -(V. 51,p. 241,275,536; https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6,250,000 438,000 7,985,000 1,750,000 4,473,000 1,725,000 5,112,000 (i) 1,068,832 2,300,000 4,150,000 350,000 2,990,000 6,403,400 1,780,000 464,000 200,000 July 5, Sept. 1, A.ug. 1, Oct. 1, Jan. 1, Sept. 1, Dec. 1, 1887 1891 1931 1917 1914 1916 1900 Q.-F. M.&N. Seerem. J. & J. J. & J. A.. & 0. A. & 0. N. Y., Office, 35 Wall St. N. Y., Winslow, L. & Co. do do Jan.,1890, coup. last pd. Jan.,1890, coup. last pd. A.pr.,1890, cou~.last pd. None paid. Feb. May Feb. Jan. July Oct. Oct. Feb."1. J. & J. 7 5 g. J. & J. 7 J. & J. 6 g. J. & J. 2 J.-·&--J. 7 M.&N. 7 M.&N. 7 Moss N.' B-k.","sand'ky, o. N. Y., Union Trust Co. N.Y.,46Wall,&Fr'nk'frt New York & Americus. Baltimore & Americus. N. Y. H. B. Plant. N.Y.,H.B.Plant,&Savan do do N.Y.,H.B.Plant &Savan Feb:· "i892 Jan. 1, 1909 Jan. 1, 1919 1905 & 1906 July 1, 1919 Mar., 1891 July 1, 1897 May 1, 1899 May 1, 1899 112 7 6 g. 6 g. 6 g. 5 g. 5 g. --~r 1, 1892 1, 1907 1, 1923 1, 1916 1, 1926 1, 1938 1, 1913 1; The whole property shall be acqmred by foreclosure or otherwise (a suit for foreclosure was instituted in September, 1891), and the fol· lowing new securities created covering all the property : • 1. First mortgage five per cent :fifty-year gola bonds of $1,000 each, carrying interest from ,July 1st, 1891: Issue limited to._. ___ ._._ .•.. ______ ... _-$16,800,000-$21,000 p. m Reserved for extension to Llano and Austin and for additional rolling stock as required. ____ .. _.... __ ._ ... __ . 2,100,000 Present issue for the purposes of this reorganization._. . $14,700,000 2. Five per cent non-cumulative preferred stock_ - ___ ... •• $5,250,000 3. Common stock, par value $100 per share._. - ... _. -. __ . _ $5,250,000 Assenting security holders will receive (1) for ola first mortgage 6 per cent bonds, with July, 1890 and subsequent coupons attached, new first mortgage 5 per cent gold bonds, $1,000 ; new 5 per cent preferred stock, $150, and new common stock, $150. (2) For each old first mortgage 5 per cent bond, October, 1890, and all subsequent coupons attached, new first mortgage 5 per cent bonds, $850 ; new preferred stock, $120; new common stock, $120. (3) For each old $1,000 second mortgage bonds, all coupons attached, new first mortgage 5 per cent bonds, $225 ; new 5 per cent preferred stock, $250; new common stock, $250. (4) For each share of old stock (in the hands of the public) $100 in new stock. Each bolder of $2,000 old firsts may subscribe to a cash fund created to li9.uidate cash requirements for $850 of said fund, for which he will receive $1,000 new firsts, !$350 new preferred and $350 new common. The stock of the reorganized company is to be transferred to voting trustees in exchange for beneficiary certificates, the committee being named as trustees for three years from July 1, 1891. Securities are depositedwith the Central Trust Company of New York in exchange for the Trust Company's engraved receipts. The Central Trust Company has received assents to the plan of reorganization from a large percentage of all the bondholders and stockholders. There have been ISsued $365,000 of Receiver's certificates, of which $300,000 issued for Waco Extension are held by reorganization committee. From January 1 to August. 31, 1891 (8 months), gross earnings were $1,066,872, against $1,001,693 in 1890; net, $112,909, against $140,532. A. report of the receivers for the year ending on July 14, 1891, was in V. 53, p. 608 showing gross earnings $1,740,945; net, $319,065. (V. 50, p. 107; V. 51, p. 21, 85, 143, 207, 276, 345, 383, 538, 571, 788; v. 52, p. 204, 464, 499, 574, 899; v. 53, p. 96, 608, 641.) Sandusk y llian sfi.eld & N ew-ark.-Owns from Sandusky, 0., to Newark, O., 116 miles. Leased to Central Ohio, guaranteed by Balti more & Ohio, Feb. 23, 1880, till Dec. 1, 1926, with option to the Balt. & Ohio Co. to renew for terms of 20 years each. It is operated as Lake Erie division of the Baltimore & Ohio system.' Rental is $201,850 The Baltimore & Ohio's guarantee of interest is endorsed on the bonds. Dividends from 1881 to 1884, 2 per cent; from 1885 to 1888, 3 per cent; from 1889 to 1891, 312 per cent, payable annually Feb. 1. In 1889-90 gross, $1,211,170; net, $271,397; profit to less e, $47,162. In 1890-91, gross, $1,106,818; net, 255,359. San Francisco & North Pacifi.c.-Point Tiburon, Cal., to Ukiah, Cal., 106 miles, and branches, 56 miles; total 162 miles. Consolidation of various companies March 19, 1889. Connects with San Francisco (6 miles) by company's steamer. Bonds issued at $25,000 per mile, trustee, Mercantile Trust Company, New York; sinking fund, $25,000 per annum, and bonds drawn (or purchased) at 110 and interest rsee abstract of the mortgage in V. 49, p. 241.] Capital stock, $6,000, 000; par $100; no :floating debt. From July 1, 1891, to Dec. 31, 1891 (6 months), gross earnings were $509,133, against $467,398 in 1890; net, $223,109, against $11;3,471 surplus over charges, $119,977, against $79,547. In year 1890-91 gross earnings were $832,647 against $755,294 net, $288,185, against $229,510; surplus over charges, including $25, 000 to sinking fund each year, $56,551, against $1,731. J. F. Burgin President, San Francisco. (V. 48, p. 800; V. 51, p. 205; V. 53,p. 186 Savannah Americus & lliontgomery .-(See .Map.)-Owns from Lyons, Ga., west to Montgomery, A.la., 265 miles, and leases A. F. & N. Railroad from Cordele to Albany, Ga., 35 miles; total o-per ated 300 miles. A.n extension from Omaha to Montgomery, A.la., 80 miles, was completed Dec. 1, 1891. Under a traffic contract with the Savannah & Western, through traine run via this line from Sa.van nah to Birmngham, A.la. In 1891 company leased the Albany Florida. & Northern, Cordele to Albany, Ga., 35 miles. This was formerly the Americus Preston & Lumpkin. Of the 1st mortgage bonds $100,000 are a first lien on 38 miles; the others cover extensions, being a, second lien on ~he 38 miles. The conso~dated mortgage is for $4,100,000 (Mercantile Trust Company of Baltimore, trustee). Stock authorized is $5,000,000; outstanding, $1,614,200; par $100. Car trusts and notes $557,494 (including interest), due yearly 1891 to 1898, payable in monthly instalments. Bonds listed on N. Y. Stock Exchange Jan , 1892. See V. 54, p. 120. From July 1, 1891, to Nov. 30, 1891 (5 months), gross earni.Jigs were $226,197, against $212,626 in 1890; net, $92,038, against $102,758 In year ending June 30, 1891 earnings on 175 miles, $491,499; net, $209 203.-(V. 52,p. 322, 535, 796; V. 53, p. 257, 754; V. 54, p. 120.) • . ~ ,-c ~ r/2 ~ . ~ C/ I I I I I I I I ,' ~I U1 / ~ 0 1..l r ·,~ ,J 0 ~ , , U1 I ~ ' I I I I ~ ,,,· ~~,, ,,,... a ;';r ,,- ,r .::,,,,' , > -~ ~ '\> ~ . }MAP OF THJB SAVANN-AH, AME:RIC,US 1 - AND - ,....., ~ ~ 00 .-1 t ..il ~ ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MONTGO,M 'E R~Y R AILWAY & CONNECTIONS " SAM ROUTE " INVESTORS' 122 SUPPLEMENT. [VOL. LIV. Subscribers will confer a great favor by givin~ iuunedlate notice of any error discovered In these Tables. RAILROADS. I Miles Date Size, or of Par F or explanation of column headings, &c., see notes of Road. Bonds Value. 0 on first page of tables. savannah Florida & --- Western.-( Ooncluded). Sav.Fla. & West.,consol.M.for $6,500,000, g.c*&r 545 Monticello extension bonds .......... l'"••••••••••••• ---· Brunswick & West. lstM.,yuar. by 8. F. &W ... c* 171 Income bonds, non-cumu ative .................. 8 avannah ct Weste.rn-Columb. & West.1st M., gu.c* 158 50 Columbus & Rome 1st mortgage guar ........... c* 1st consol. mort.Ji!old ($18,000 ier mile)hfiuar.c* 427 44 schuylkill & Lehig 1st m., gu. p. i. by P · a.& R. scioto Valley & N. Eng.-lst mort age ............ c~ 131 seaboard&Roanoke-St'k ($244,2 0 ispf. gu. 7p.c.) . 81 Debentures, registered ............. ... ..... .. .. .. r 81 1st mortgaje for $2,500,000 .................... c: seattle Lake . & East.-lst M., g., $25,000 p. m.c 218 shamok,in Sunbury~ Lewisburg-lat mo1-t .... c*&r 31 31 29 8 i::oi~!g~t ~ ·i>otis~iti;,;_:.iiiocir~ 1st mortgage, gold, on road and lands ........... o 28 49 Shore Line ( 1.; onn.J-St'k, 712p.c.rent.N.Y.N.H.&H. 49 by i': 40 sitver Sp. Ocala ct Gulf-lst,l. gr. g.($15,000p.m.)c* 50 96 Sioux lity & N01·thern-lst mortJage, gold.····.· .c* South Bound-1st mortgage for 1 ,000 per mile .. Bouth Carolina-1st mortga,;e, sterling loan ....... 247 1st consol. mortgage (for 5,000,000) . ........... 247 2d consol. mortgage ............................. c* 247 Income mortgale bonds (not cumulative) ...... c* 247 8 outhFloridar-ls mort.,gold, ($12,000 per mile) .c* 189 So.ctNo . .A.labamar-lstM.,s.f.notdr'n; uar.byL.&N. 189 2dmort. bonds, s. f. $20,000 (owne by L. & N.). 189 Consol. mortgage (for $10,000,000), gold, guar.c* 189 8.Paci',flc r ·oast-lstM.,g,g . uar. s. f. be g ins 1912)c 104 ---- 3 ---- ·iuar: i;i Nor.·g: s1::V~~:1~l1!ousio~·isi: g·.: ·iuar: =a: E: &w: 3 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INTEREST OR DIVIDENDS. Bonds-Prmol --- 6 g. A. & 0. N.Y.,H.B.Plant&Savan. 1884 $1,000 $4,056,000 do do A. & 0. 290,400 6 1889 --·· 4 g. J. & J. N.Y.,12 W.23dSt.&Sav. 3,000,000 1888 500 &c. None paid. 1,000 5 1888 3,000,000 1,000 6 J. & J. N.Y., Security & Tr. Co. 1881 800,000 J. & J. do do 1,000 200,000 6 1884 5 g. M.& 8. do do 1,000 7,755,000 1889 1872 600,000 412 M.& N. --· · 4 g. M.&N. N. Y.,ceiiiiai & Phil 1889 1,000 5,000,000 100 1,302,900 312 com. M.&N. Balt., Farm.& Plant.Bk. F. & A. Portsmouth, Va. 6 i886 100 &c. 690,000 J. & J. N.Y.,Baltimore&Phila. 1,000 5 1886 800,000 6 g. F. & A. N. Y., Union Trust Co. 1,000 1886 5,450,000 1,000 M.& N. Phila., Phil. &Read.RR. 1882 1,000,000 5 do do 1,000 6 g. J. & J. 1890 1,000,000 F. & A. Phila., Penn. RR. Co. 50 869,450 3 ---7 g. J. & J. do do 2,000,000 1871 500 &c. J. & J. N. H., Nat. N. H. Bank. 100 1,000,000 3·25 · do do isso 1,000&c 200,000 412 M.& 8. 1,000 6 g. J. & J. Interest in default. 400,000 1881 1,000 6 g. J. & J. New York, 56 Wall St. 1888 3,000,000 1,000 5 g. J. & J. N.Y., Manhattan Tr. Co. 1890 1,920,000 A. & 0. 1891 6 ·--···---5 g. J. &. J. London. 1868 Various ····s3,092 6 g. A. & 0. Coup'n Oct.,1890,/iaid. 1881 1,000 4,883,000 J. & J. Last paid July, 1 88. 1881 1,000 1,130,000 6 Yearly. 1881 6 ............ 1,000 2,538,000 6 g. J. & J. 1,000 2,256,000 1885 6 g. M.& N. London, Baring Bros. 1873 £200 £909,000 1880 6 g. A. & 0. N. Y. Of., 23 Nassau St. 1,000 $2,000,000 5 g. F. & A. do do 1886 1,000 3,455,000 4 g . J. & J. N. Y. S. Pac. 23 Br'd St. 1887 1000 5 500 000 Tr. Apr. 1, 1934 Apr. 1, 1899 Jau. 1, 1938 Irredeemable Jan. 1, 1911 Jan., 1914 Mch. 1, 192 Nov. 1, 190 Nov. 1, 198 Nov. 2, 189 Aft. July,191 July 1, 192 Aug. 1, 193 May 1, 191 July 1, 192 Feb. 1, 189 July 1, 190 Jan. 9, 189 March, 1910 July 1, 191 July 1, 191 Jan. 1, 192 I Savannah Florida&; Western.-Owns from Savannah, Ga., to Chattahoochee, Fla., 258 miles; 3 branches to Bainbridge, &c., 15 mil61!. Dupont to Gainesville, 118 miles; Thomasville to Albany, 58 miles; Thomasville, Ga., to Monticello, Fla., 24 miles; Waycross to Jacksonville, 75 miles; Fort White, Fla., to Lake City, Fla., 20 miles; total, 569 miles. In January, 1888, control was purchased of the Brunswick & Western Road, Brunswick to Albany, 171 miles, with bonds as above, the first mortgage bonds being guaranteed. In 1890 a controlling interest in the Alabama Midland was acquired by the Plant Investment Co., which controls the system. See Alabama Midland; also, V. 51, p. 50. The Metropolitan Trust co., of N. Y., is trustee of the mortgages. The Savannah Florida & Western stock is $?,403,400 (p~r $100) a.nd dividend~ have been: ~n 1881, 9~ per cent; m 1882, 612; m 1883, 7; in 1884, 4; m 1887, 134; m 1889, 4; m 1891, 2. . ~om January .1 to Oct. 31, 189~ (10 monthRJ, gross earnmgs ~ere $2,690,752, agamst $2,421,057 m 1890; net, $808,024,. agamst $414,135. In 1890 gross earnings, $3,038,473; net, $575,028; mterest, $431,864; rentals, etc., $38,361; surplus, $104,802. Total surplus January 1, 1891, $140,217; deduct dividend (2 per cent), $131,946; balance, $8,271. H. B. Plant, President, New York. (V. 51, p. 50; V. 52, p. 761.) savannah &; Western.-Owns from Birmingham, Ala., to Americus, Ga., 222 miles; Columbus to Greenville (narrow gauge), 50 miles; Opelika to Roanoke, 39 miles; Eufaula to Ozark, 60 miles; Meldrim to Lyons, 58 miles~ Griffin to Carrollton, 60 miles; Griffin to Chattanooga, 200 miles; total, 689 miles. In May 1891, the Chattanooga Rome & Columbus (which i::ee) was P urchased for $400,000 consolidated 5s, the Savannah & Western guaranteeing its $2,240,000 bonds. See V. 52, P• 761. This was a consolidation in August, 1888, of the Columbus & Western and other roads. Road belongs to the Central of Georgia system. Stock is $3,000,700 (par $100), all owned by the Central of Georgia. The ~onsolidated mo1-tgage (trustee, Central Trust Company, New York) is for nominally $18,000,000, of which $1,560,000 held in trust for prior liens; abstract of mortgage in V. 49, p. 240; principal and interest is guaranteed by Central Railroad & Banking Company of Georgia. In 1889-90 gross earnings on 386 miles were $889,362 ; net, $208,086, against $87,485 in 1888-89. President, Gen. E. P. Alexander, Savannah, Ga.-(V. 47, p. 218; V. 48, p. 729; V. 51, p. 910.) Schuylkill &; Lflhlcrh.-Owns from High's Farm, near Reading, Pa., to Slatington, Pa., 44 miles. Reorganized in 1880, and in 1883 eased to Philadelphia & Reading for 999 years. Reading owns the stock ($50,000) and $400,000 second mortgage bonds. The first mortgage bonds are guaranteed. Schuylkill Valley.-Owns from Palo Alto to Reevesdale, Pa. 11 miles; branches, 8; total, 19 miles. Leased to Philadelphia & Rea~g RR. for 999 years from Sept. 1, 1861, at 5 p. c. on stock. No bonded debt. Scioto Valley&; New England.-SEE NORFOLK & WES~ERN. Seaboard &; Koanoke.-Owns Portsmouth, Va., to Weldon and bran®, N. C., 81 miles; leases Roanoke & T. R. Railroad, 29 miles. Also has a controlling interest in the Raleigh & Gaston Railroad, 109 miles, and thus in the Raleigh & Augusta Air Line, 107 miles, and Carolina Central, 269 miles; also controls Pittsboro Railroad, 11 miles, and Carthage Railroad, 11 miles; total of all, 618 miles. Of the stock, $1,· 058,100 is common, $200,000 is 1st preferred 7 per cent guaranteed, and $44,2p() is 2d pref. guaranteed. The debentures above are to be included in any 2d mortgage issued. After August 1, 1916, they are payable at will ~as a whole, or in 10 per cent instalments. Car trust September, 1891,. 5 per cents, due in 1900 and 1901, $250,000. With 'Raleigh & Gaston guarantees the bonds of the Georgia Carolina & Northern, which see In ·year ending June 30, 1891, gross earnings on road proJ?er, 114 mile~, $771,572; net, $291,627; other income, $77,147; total net mcome, 68,774; interest, rentals, &o., $124,037; dividends (7 per cent), 4,203; surplus for year, $150,534; in 1889-90, gross, $681,619; net, 275,267; surplus over fixed cnarges, $235,154; dividends \10 per cent), balance over dividends, $104,864. J. M. Robinson, President, Baltimore, Md. (V. 51, p. 344; V. 52, p. 350, ~27;,V. 53, p. 324.) Seattle Lake Shore &; Eastern.-Owns from Seattle to Sallal Prairie and branches, 75 miles; Spokane Falls to Davenport, 50 miles; i3nohomish Junction to a connection with the Canadian Pacific at the international boundary line, 102 miles; -total, 227 miles. Completed in 1891. In July, 1890, the North. Pac. purchased al>out$3,000,000 of the $3,174,600 stock and guaran,teed by endorsement both prmcipal and interest of the bonds. : . From July 1, 1890, to Decetnbey 31, 1890 (6 months), ~ross earnings on 100 miles were $241,729; net, ,$78,822. In year .t889-90, on 90 miles, gross, $364,347; net, $155,420; fixed charges, $159,875; deficit, $4,454. (V. 50, p 314; V. 51, p. 114, 498.) ShaJDokln Sunbury &; Lewlsburg.-Line from Shamokin to West Milton, Pa., with iron bridge over Susquehanna, 31 miles. Leased to Philadelphia & Reading till July 20, 2883, and used for coal traffic northward. In 1890 stock was mcreased to $2,000,000 and new 2d mortgage was issued. Stock, $2,000,000; par, $50. (V. 51, p. 21.) ShaJDokln Valley&; Pottsville.-Line of road, Sunbury, Pa., to Ht. Carmel, Pa., and branch, 30 miles. Leased February 27, 1863, for 999 years to the Northern Central Railway Co., with a guarantee of 1 ] pal,When Due. ~~~~filng Rate per When Where Payable, and by · Stocks-Last Cent. Payable Whom. Dividend. oiiiieinaiid. Oct. 1, 1920 Jan. 1, 1931 Jan. 1, 1931 Jan. 1, 1915 May 1, 1903 Apr. 1, 1910 Aug. 1, 193 6 July 1 , 1937 taxes, interest on the bonds and 6 per cent on the $869,450 stock (par $50), of which $619,400 is owned by the Northern Central. Pennsy'lvania RR. owns $605,000 7 per cents. Gross earnings for 1889, $403 242; net, $213,559. Gross earnings for 1888, $409,677; net, $195,636. George B. Roberts, President, Philadelphia. Shore L~ne (Conn).-Owns New Haven, Conn.!-:.to New; London, C?nn,, 49 Dllles. Leased to New York & New Haven ~R.. Co. m perpetwty November 1, 1_870, at $100,000 net per aJ?.Ilum. Dividends usually 314 o_r 312 per oent m J?-nuary and 4 per cent m July. Operations and earnmgs are Included m the reports of the lessee. Shreveport &; Houston.-From Shreveport, La., to Logansport, La., 40 miles; connects with Houston East & West Texas Road, forming with that a narrow gauge line of 230 miles from Shreveport to Houston. Mr. M. E. Howe was appointed receiver January 1, 1890, and sale under foreclosure took place on June 2 1890. (V. 50 p. 353 875.) ' ' ' Silver Springs Ocala &; GuU.-Projected from Palatka, Fla., to Point Pinellos on Tampa Bay, about 250 miles, and completed to Homosassa, 53 miles, with branches, 14 miles. Stock, $2,500,000, par $100. There is a land grant of 13,840 acres per mile, of which the mortgage covers 4,000 acres per mile. Thomas C. Hoge, President, 56 Wall St. Sioux City&; Northern.-(See Map)-Owns road, completed in February,1890,fromSioux:CitynortherlytoGarretson,So.Dak.,96miles. At Garretson connection is made with the Great Northern, with which there is a traffic contract for thirty years. The road forms part of the G t N th , th o h o te fr s· Cit t O Dul th di t f rea or ern s r ug r u om ioux Y , a s ance o · u 435 miles. The mo1-tgage (trustee, Manhattan Trust Company) is limited by supplemental deed to $1,920,000 the amount now outstanding. stock authorized, $10,000,000; outstanding, $1,440,000. From January 1 to Nov. 30, 1891 (11 months), gross earnings were $404,559, against $282,399 in 1890; net, $173,045, against $124,535. In 1890 $310 046 net $133 648 (V 50 276 353 v 51 416 ' ; ' ' · · ' p. ' ; · • p. ' 459 gross, .) · South Bound.-Completed in Sept., 1891, from Savannah, Ga., to Columbia, 8. C., 140 miles, connecting at Columbia with the Richmond & Danville for Washington and at Savannah with the Savannah Florida & Western for Florida points. The Savannah Construction Company, with a capital of $737,000, had the contract for building the road' Track laid with 60·lb. steel rails. The mortgage is for $2,250,000. trustee, Mercantile Trust & Deposit Company of Baltimore. President; Mr. H. M. Comer, Savannah. (V. 53, p. 157.) _ South Carollna.-Owns from Charleston to Augusta, 8. C., 137 miles; branches to Columbia, 68 miles, and to Camden, 38 miles; extension, 4 miles; total main line and branches, 247 miles. The Carolina Cumberland Gap & Chicago Railroad, from Aiken to Edgefield, 24 miles, and the Columbia Newberry & Laurens Railroad, from Columbia to Clinton, 63 miles, are leased by the receiver of this road, and operated in connection with it, making 334 miles operated. Sold in tore<llosure July 28, 1881, and on Jan. 1, 1889, the company defaulted ag~in. Foreclosure suit under first mortgage is pending, and one plan of reorganization was given in V. 53, p. 969, and another January 16, 1892, on p. VI. of advertisements. In October, 1889, D. H. Chamberlain was appointed receiver. There are also $178,000 old 5 per cent first mortgage extended bond~ payable 1892, and $8,000 7s, due 1907, in addition to those above. vn July 1,' 1891, the Receiver paid to date interest on all bonds having a lien prior to that of first consols and in September, 1891, he was authorized to pay the coupons due October 1, 1890, on the first consols. (See V. 53, p. 368.) The stock is $4,204,160; par, $100; car trusts,$74,434, due December, 1893. From July 1 to Nov. 30, 1891 (5 months), gross earnings were $717,075, against $712,890 in 1890; net, $280,588, against $293,749. Earnings have been as follows: INCOME ACCOUNT. 1887-88. Mileage................ . ..• . $ Gross earnings ......•. 1,256,587 Oper. exp. and taxes.. 853,141 1888-89. ··1f 1,279,692 1,009,497 1889-00. 247 $ 1,420,762 973,989 1890-91. 310 $ 1,689,159 1,109,762 Net earnings...... 403,446 270,195 446,773 579,397 -(V. 51, p. 207,223,416,910; V. 52,p. 41; V. 53, p. 368; V. 54, p; 120.) South Florlda.-Owns from Sanford to Ta.Dlpa, Fla., 115 miles; Bartow Branch, 17 miles; Pemberton Ferry Branch, 56 miles; operates Sanford to Lake Charm, 18 miles-total, 207 miles. The road is part of the Savannah Florida & Western system, and is to be extended from Pemberton Ferry northwesterly 80 miles. The bonds are held by the Plant Investment Company. In year ending June 30, 1889, gross earnings, $364,134; deficit under operat.ing expenses, $36,044. South&; North Alabarna.-(See Map of Louisville ct Nashville.)Onwns from Decatur, Ala., to Montgomery, Ala., and branch, 188 miles · Controlled by the Louisville & Nashville RR. Co., which on June 301890, owned $2,000,000 2d mortgage bonds, $1,882,000 consolidated 5s,&c., all the $2,000,000 preferred and $lt3 73,0PO of the $1,482,071, common stock, most of the stock being pleaged under its unified mort. gage-par, $100. The first mortgage and consol mortgage honds are guaranteed principal and interest by L. & N .., the first mortgage bond• ". ~ ai ~0 ~ ~ rD. ~ 0 0 E-4 00. ~ D W.essihgton o Sprs. Wo Pla}tkfllto!l CHJ. ~ ,-, e-i ~ 00 ~ ~ ◄· ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis w .SIOUX CITY & NORTHERN RAILROAD. (GREAT NORTHERN SYSTEM.) l24 INVESTORS' SUPPLEMENT. [VOL. · LIV. Subscribers -will conCer a great favor by giving hnmedlate notice oC any error discovered In these Tables. I - ---1:~r~~~°; : RAILROADS. Miles Datet Size, or Amount INTEREST OR DIVIDENDS. J'or explanation of column headings, &c., see notes of of Par Outstanding Rate per When \Where Payable, and byl Sto~k_s-Lasi on first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. South Pennsylvania-Stock ...... ....... . ............ BouthernOentral(N. Y.J-Consol. mort. convert ... c ..... --- · ··5· F:·&·A. 114 1882 $200.&c . $3;300,000 In default. Funded coupons consol. mort~age ................ 1887 475,740 4 F. & A. ----···-·· ·ioo 116,074,890 ..6.g. . ..... Southern Pacific OOMP.A.NY-S ock($150,000,000) 5,93i ..... Bouth.Pac.or .Arizona-1st M., ser. A&B,g., guar.c&r 384 '79·'80 1,000 10,000,000 J. & J. N. Y., s:i•ae:;ziiBr'd St. Bo.Pac.(Oa .J-lstM.,g.,seriesA) landgrant ... c* 6 g. A. & 0. N. Y., s. Pac., 23 Br'd St. l1S75 500 &c. 13,564,500 Series B, gold ......... . ........ Jsink'g fund . . c* 1,042 1875 500 &c. do 6 g. A. & O. do 4,795,000 Series C & D, gold.............. not subject .. c* I 1876 500 &c. 8,609,000 do 6 g. A. & 0. do Series E & F, gold . .... . ...... . to call .... . c* J 1882 500 &c. 5,415,000 6 g. A. & 0. do do So. Pac. Branch 1st mort. sinking fund in 1897 .. 93 1887 6 g. A. & 0. do 3,578,000 do ---General mortgage, gold (for $38,000,000) .... c*&r 1,373 1888 1,000 10,542,000 do 5 g. A. & 0. do Stockton & Copperopolis lstM., g. (guar. by C.P.) 45 1875 500 &c. do 5 g. J. & J. do 500,000 Southern Pacific of New .il.fexico-lst mort. gold.c&1· 167 1881 1,000 6 g. J. & J. New York, 23 Broad St. 4,180,000 Southwestern (Ga.)-Stock, 7 p. c., guar. Cent. Ga .. 333 .... 100 5,147,500 312 J . & D. Savannah and Macon. Bouthwest Pennsylvania-Stock ...................... 89 ..... 50 1,499,900 M. & S. Philaa:33 s. Fod~th St. 5 1st M., sink. fund $5,000 yearly, not drawn ..... r 89 1877 1,000 900,000 F. & A. 7 ~kane Falls_& N~rthern-lst M.,$20,00,.m.,g.c* 127 1889 1,000 2,546,000 6 g. J. & J. N. Y., Chase Nati. Bank. ~yten Duyvil tl!P tMor.-Stock,8 p.c.gu. .Y.Cent. .... 6 100 J. & J. •N. Y., Gr'dCent.Depot. 4 989,000 e Line <I! Sullivan-1st mortgage .............. c* 25 1879 100 &c. J. & J. N. Y., Umon Trust Co. 300,000 6 Btaten Istand-1 st mortgaf .................. - ..... · 13 1873 1,000 A. & 0. N. Y., foot Whitehall St. 300,000 7 Btatenisl.Rap. Tran.-lst ., $or£, s. f. notdr'n.c* All. 1883 1,000 1,000,000 6 g. A. & 0. N. Y., foot Whitehall St. 2d mortgage endorsed by B. & 0., gold ........ c&r .... 1886 1,000 2,500,000 do 5 g . J. & J. do Incomes, gold (non·cumulative) ................... .... 1885 1,000 do do 4,500,000 upto 6 g . . ..... r l Feii: . 1; .i922' Nov. 1, 1897 Mcii:; 1909·10 Apr. 1, 1905Oct. 1, 1905Oct. 1, 1906, Apr. 1, 1912' Apr. 1, 1937 Oct. 1, 1938 Jan. 1, 1905 Jan. 1, 1911 Dec. 31, 1891 Sept. 30, 1891 Feb. 1, 1917 July 1, 1939' Jan., 1892 Jan. 1, 1899Apr. 1, 1893: Jan. 1, 1913 J an. 1, 192& Jan. 1, 1946; r being indorsed with the guaranty. In year ending June 30, 1890, gross earnings were $~,202,151; net, $637,247; deficit under interest, &c., $60,279, agarnst $225,536 m 1888·89.-(V. 50, p. 314; V. 53, p. 370.) South Pennsylvanla.-The line was in progress between Harris· burg & Pittsburg, 225 miles. After various phases of litigation, in 1889 the Vanderbilts bought out the other parties interested, and in March, 1890, property was reported sold upon a judgment to George F. Baer, of Reading, Pa., for $2,500, and reorganized. See CHRONICLE, V. 50, p, f,61. (V. 47, p. 690; V. 48, p. 128,160; V. 50, p. 423, 561.) South Pacific Coast (Narro-w-o-auge).-Owns from Alameda 'k> Santa Cruz, 77 miles; branches, 27 mi'ies; total, 104 miles. The road is leased for 55 years from July 1, 1887, to the Southern Pacific Company, which guarantees the bonds and owns all out $7,000 of the stock. Trustee of mortgage is Farmers' Loan & Trust Company. The stock is $6,000,000; par, $100. In 1890 gross, $1,105,543; net, $294,574; surplus over charges, etc., $18,704. (V. 49, p. 540.) Southern Central (N. Y).-Owns from North Fair Haven, N. Y .. to Pennsylvania State Line, 114 miles, and branch 2 miles. The Lehigh Va.lley leased this road from January 1, 1887, for 975 years, without any ~uaranty of interest. There are $90,000 of 7 per cent prior bonds due m 1899. Six coupons from August 1, 1886, inclusive, were funded into ill.come bonds. Stock, $1,774,950; par, $100. In 1890·91 gross earnings were $521,919; net, 11?71,546; charges, ~199,812; deficit, $127,766. Thomas C. Platt, Pres1dent.-(V. 51, p. 710.) Southern Pacific COll.lPANY.-(See MapJ-This corporation was organized August 14-, 1884, under the laws of the State of Kentucky. It has acquired a trans·Continental system of railroads, with steam• ship lines from New Orleans to New York, etc. On Jan. 1, 1891, it had proprietary lines in its Atlantic system ag1n-egating 1,742 miles; in its Paciflc system, 2,396 mile ; total proprietary lines, 4,138 miles; leased lines (other than proprietary lines) in Pacific system, 2,088 miles; total railroad lines, 6,226 miles. The leased lines other than the proprietary lines are: The Central Pacific, th;; Oregon & California and the California Pacific railroads. The terms on which these roads are operated are stated under the head of each company respectively. The pro_J)rietary lines, with a total mortgage indebtedness Jan. 1, 1891, of $115,718,167, are all practically owned-only $2,220,802 out of their total stock of $14-9,964, 752 not bein~ held on Jan. 1, 1891, by the Southern Pacific Co. Five of the proprietary companies as below designated are operated for 99 years from April 1, 1885, under the so•called omnibus lease, under which the Southern Pacific Company agrees to maintain the roads, to pay all fixed and other charges, includ• trig interest on bonds and floating debt, and to divide the total net profits from operating, after making these payments, among the several parties to the lease, the Southern Pacific Company to receive 10 per cent f!J~~~sri~~~-and each of the other five companies the percentage Proprietary lines operated under omnibus lease: Southern Pacific of California, receiving 44 per cent of net profits; Southern Pacific of Ari· zona, 10 per cent; Southern Pacific of New Mexico, 6 per cent; Mor• gan's Louisiana &Texas, 23 per cent; Louisiana & We tern, 7 per cent. Proprietary lines not operated under omnibus lease: South Pacific Coast, Northern Railway, Northern California, Texas & New Orleans, Galveston Harris. & San Antonio, Gulf Western Texas & Pacific, N. Y. Texas & Mexican. For further information respecting these companies, see separate statement for each. Stock authorized, $150,000,000. See V. 48, p. 428. Price of stock.-In 1886, 30¼1o4112; in 1887, 293411!3634; in 1888, 19 @2712; in 1889, 21121o371a; in 1890, 22¼11!3714; in 1891, 231i>441a; in 1892 to Jan. 22, inclusive, 393s1o41¼. From January 1 to Nov. 30, 1891 (11 months), gross earnings on the whole system were $46,315,535, against $44,270,441 in 1890; net, $17,968,542, against $16,039,481. The annual report for 1890 was given at length in CHRONICLE V. 52, p. 716, 719. Earnings of the whole system, mcluding steamship linee, were as below given in 1889 and 1890. 188~ 189~ Average mileage operated................... 5,990 6,053 under omnibus lease, $2,213,998; to other proprietaTy companies-, $632,201; due from California & Oregon, $259,429; leavmg a nominal deficit from the operations o.r the year of $209,057. Bala.nee to credit: of income account January 1, 1891, $24,582,214.-(V. 51, p. 172; V. 52,. p. 571,702, '716, '719; v. 53, p. 5!}, 290, 880.) Southern Pacific of" Arlzona.-This is the connecting line of the Southern Pacific of California, extending from Yuma to New Mexico boundary, 384 miles. The stock is $19,995.000, all but $2.400 being held by Southern Pacific Co. The bonds consist of series A,$6,000,000, due 1909, and Series B, $4,000,000, due 1910. Operated undel"' lease to Southern Pacific IJo., the lessee paying all charges and also 12 per cent of the net profits of the whole Southern Pacific system. From J anuary 1 to Nov. 30 (11 months) gross earnings in 1891 were$1,871,720, against $1,850,209; net, $575,876, a~ainst $650,101. In 1890 o-ross earnings were $2,000,594; net, $t>85,933 ; deficit undercharges, $~5,276; net profit due the company under the lease, $245,999. Southern Pacific (of California).-( See Map.)-LI E OF RO.AD~ -This is the title of a consolidation May 4, 1888, of several lines in, California, including the company of the same name, which had bee formed by a consolidation October 12, 1870. The total mileage com• pleted at the close of 1890 was 1,562, of which 242·5 miles were leased to and opt. rated by the Atlantic & Pacific RR. Co. Balance leased to th& Southern Pacific Co., which owns most of the stock. the lessee payingthe interest, fixed charges, betterments and additions, and $1,340,350, per ceut of the surplus income of all the roads operated under the,, omnibus lease." S'l'OCK AND BONDS.-The authorized stock is $90,000,000, par $100, of which $61,821,900 is outstanding, all but $1,340,350 being held by theSouthern Pacific u ompany. The first mortgage bonds of th_e seve!-"al series are all equally secured. They are bemg gradually retired wita proceeds of land sales, &c. They are not subject to call. There is alsoa sinking fund of $100,000 per year. The new mortgage for $38,000,000 is dated August 25, 1888, to cover old line and new roads acquired· trustee, Central Trust Company. In April, 1891, it was a first lien on 469 miles. See mortgage abstract, V. 49, p. 509. LAND GRANT.-The land 1n-ant was 12,840 acres per mile, and proceeds of sales go to retire bon'as. The total lands unsold J anuary 1, 1891 were estimated at 7,250,000 acres, but a lar&'e proportion of this is bar ren and useless for a9"icultural purposes without irrigation. In 1890 the net sales were l:16,758 acres, for $594,210; interest on deferred, payments, $155,302; land notes outstanding January 1, 1891, $3,006,· 293. From January 1 to November 30 (11 months) gross earnings were, $6,317,565 in 1891, against $5,950,568 in 1890; net, $2,435,465 1D 1891, against $2,076,726 in 1890. In 1890 gross earnings of both divisions were $8,696,786; net,. $3,251,639; adding rental ($436,266) received from Atlantic & Paci11.oRR., total net income, $3,687,905; surplus over charges, $689,839; ne1i profit due the company as per omnibus lease, $2,082,399. (V. 52, p.643. Southern Pacific of Ne-w ll.lexlco.-Owns Arizona State Line~ Rio Grande bril'lge, 167 miles. Operated under lease by Souther11. Pacifio Oompan11, tile lessee paying all charge8 and 6 per cent of net profl.1is o:f the whole Southern Pacifio system. Stock, $6,888,800 (par it>'IOO}, all but $2,500 beiug held by Southern Pacinc Company. Sinking fund March 1, 1891, $209,958, invested in Gulf Har. & San Antonio and so• Pacific of California bonds. From J anuary 1 to Nov. 30, 1891 (1 1 months), gross earnings were $970,768, against $957,589; net $438, 100, against $421:!,665. Gross earnings in 1890, $1,030,951 ; net,. $452,363 ; surplus over charges, $164,837; net profit due company nder lea8e, $147,599. , South-west Pennsylva~la.-Greensb~g, Pa., to Fairch;mce, Pa. 44 miles, and branches, 60 miles; total, 105 miles. Opened April 1, 1873 and leased to Pennsylvania Railroad, which operates it at cost, pay• ing net earnings as rental. Pennsylvania Railroad owns $1,057,250 o.r stock and $600,000 of bonds. An increase of stock from $1,000,00<> to $3 000,000 was authorized in November, 1889. In 1890 gross earn in,.,.s ~ere $1,051,340; net earnings, $431,369; surplus over interesl and 10 per cent dividends, $218,104. (V. 49, p. 654.) south,vestern (Ga.)-Owns Macon, Ga., to Eufaula, 144 miles, ancl. $ $ branches to Columbus, &c,, 189 miles. Leased in perpetuity August 1,._ Gross earnings .... . . . ....... . ................ .46,467,963 48,352,504 1869, to the Central Railroad of Georgia, which assu~es the liabilitiesOperating expenses .......................... 30,406,427 31,155,103 and guarantees 7 per cent on the stock. In year ending June 30, 1890 gross earnings were $1,269,847; net, $276,932. Earnings over operating expenses ........... 16,061,536 17,197,401 Spokane Falls & Northern.-Owns from Spokane Falls, WashTrackage and rentals......................... 521,952 509,606 ington, to Little Dalles on Columbia River, 127 miles. Completed in, Aug ust, 1890. Extensions projected. Mortgage covers entire property~ Total ...................................... 16,583,488 17,707,007 Manhattan Trust Company, New York, trustee of mortgage. Stock:. Deductauthorized and outstanding, $2,500,00<J; par, $100. Treaslll'er, Alfred' Ta.xes .. ........................................ 1,218,510 1,234,298 Betterments and additions................... 436,508 265,625 o. Chapin, 192 Broadway, New York City.-(V. 48, p. 369; V. 49, p. 301.) Interest on bonded debt ...................... 10,472,892 Spuyten Duyvll & Port lttorrls.-Road is 6 miles in length and: 10,259,819 Rentals, &c...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,109,381 3,569,551 oonnects the New York Central & Hudson with the New York & Jl:arlem_ Leased to New York Central November 1, 1871, till December 31, 1970► Total ........ . ....... . ...................... 15,237,291 15,329,293 Rental is 8 per cent on capital stock of $9 9,000. Line & Sulllvan.-Ownsfrom Monroeton, Pa., to Berenice , Surplus ... . ... . ... . ........................ 1.346,197 2,377,713 PaState .. 25 miles, and operates extension to Lopez, 4 miles. Stock, $990d,.. Of the surplus here shown for 1890 there was due proprietary com• 000 (par, $50.) The mortgage covers 5,000 acres coal lands. Roa panies for earnings remaining after payment of operating expenses, leasen till 1934 to the Pennsylvania & New York Canal & Railroad ta.xes and charges, the following amounts : To proprietarv companies Company; rental, $40,000 per annum. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ~ r/1. A z0 ~ ~ rn. ~ 0 0 ~ rn. ~ 0 ~ ~ MAP O.F THE ~ c.i ~ .... j ~ SOUTHERN PACIFIC~ ,: COMP ANY RAILROADS AND STEAMSHIP CONNECTIONS. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis : 126. INVESTORS' SUPPLEMENT. [VOL. LlV. Subscribers -will conCer a great Cavor by giving hnmedlate notice oC any error discovered In these Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Princi Miles Date Size, or Amount t Wh pal, When Due For explanation of column headings, &c., see notes of of Par Outstanding Ra e per en Where Payable, and by Stocks-Last; on.first page of tables. Road. Bonds Value. Cent. Payable Whom. Dividend. --------------------- - - - - - - ____ ,______ ,---Summit Branch (Pa.)-Stock ....................... . 1st mortgage, sinking fund, not drawn ........... . 8unb'ryHazle. ct Wilkesb.--lst, Ser.A &B.,dr. at 100.c 2d mortgage, ~come .............•............. c&r Sunbury & Lewistown-Stock ....................... . 1st mortgage ..................................... c* SuspensionBridge&ErieJunction-lstM.gu.byErie Syracuse Binghamton & New York-Stock ......... . Consol. M. (prin. and int. guar. by D.L.&W.) .c*&r Syracuse Geneva d'; Corning-lstM.,s.f.dr'natpar.c sffr~!!~;~[~ "iv~~ ·ioi:k..:.:iai iiiort.for $i;ioo,<io8 2d mortgage, income .............................. . 20 20 43 43 43 43 23 81 81 57 57 45 45 45 133 133 .. . . 114 114 Mortgage for $350,000 ........................... . Tennessee Midla~lst mort., g., $20,000 p. m .. c* 2d mortgage, income non-cum. ($10,000 p. m) .c* Terre Hauled'; Indianapolis-Stock ............... • .c l ,st mortgage (provided for by eonsol. mort.). c&r Consol. mortgage for $2,200,000. .. . . . ...... .... .. Note8 issued to St. L. Vandalia & Terre Haute .. . Ind. & L. Mich. 1st mort., guar., $12,000 p. m .. c* · 40 Terre Haute d'; Logansp.-lstM.,guar. byT.H.&Ind. 93 1st M. on Logans. to South Bend l2d on 93 m.)gu. 65 Terre Haute d';Peoria-lst mortgage, gold ......... c 144 Texas Central,--lst mortgage, gold ................ c* 1 77 N. E. Div. mortgage, gold (2d on 177miles) ... . c* 52 General mortgage (pledged) . .... . ............... c* 228 Texas d'; New Orleans of'74-lst mort. land gr.c*&r 104 Sabine Division, 1st mortgage, gold .......... c*&r 104 Debentures.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... Texas & Pacific-New stock, $50,000t000 ........... 1,497 1st M., gold (Eastern Div.), s. f. rea. at 100 .... c* 524 $50 $4,010,350 1,000 1,148,000 1,185,000 1878 100 &c. 1,350,000 1878 100 &c. 50 600,000 1876 500 500,000 1870 1,000 1,000,000 100 2,500,000 i876 1,000 1,966,000 1875 100 &c. 820,800 1,000 1879 600,000 1,000 900,000 1883 500,000 1883 i874 i887 1888 i873 1885 1890 1889 1879 1883 1887 1879 1881 1884 1875 1882 1883 is15 1·,000 1,000 50 1,000 1,000 25,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 100 100 1,000 (1) 2,604,000 1,064,000 1,988,150 1,600,000 600,000 327,665 480,000 500,000 1,000,000 1,800,000 2,145,000 1,254,000 2,286,000 1,620,000 2,075,000 584,000 38,710,900 3,784,000 3 7 5&6 6 4 7 7 2 7 7 5 6 6 4 5 6 3 7 5 5 5 6 6 5 7 7 6 7 i F. & A. Phila., 233 8. Fourth St. J. & J. do do M. & N. Philadelphia, Penn. RR. M. & N. do do Philad.fuar. T. ~ D. Co. 0 J. & J. N. Y. Lake Erie & West. Q.-F. N. Y., D. L. & W. RR. Co. A. & 0. do do M. & N. N. Y., Farm. L. & Tr. Co. M. & S. N. Y., Gr'd Cent. Depot. J. & D. t: i S: g. M: ·J,,: ·N. J. & J. F. & A. A. & 0. J. & J. (1) g. M. & S. J. & J. J. & J. g. M. & S. g. M. & N. g. M. & N. g. M. & N. F. & A. g. M. & S. J. & J. York New Agency. When earned. N. Y., Farm. L. & Tr. Co. do do do do .... ... . .. N. Y., Central Trust Co. N. Y., Farm. L. & Tr. Co. do do N. Y., Union Trust Co. Last paid Nov., 1884. Last paid Nov., 1884. None paid. N. Y., S.Pac.,23Br'dSt. do do do do Feb. 16, 187& Jan. 1, 1904 May 1, 1928 May 1, 1938 Oct. 1, 1891 July 1, 1896 July 1, 1900 Feb., 1892 Oct. 1, 1906 Nov.U>,1905 Mch. 1, 1909-· 1933 1983 1; Nov.· .i93'T• Jan. 1, 1938" Feb. 1, 1892: April, 1893 July 1, 1925 $25,000m'thlySept. 1, 1939· Jan. 1, 1910 Jan. 1, 1913Mch. 1, 1937 Nov. 1, 1909 May 1, 1911 Nov. 1, 1934 Aug. 1, 1905 Mch. 1, 1912 Dec., 1893 Staten Is1and.-Clifton to Totten.ville, 13 miles. Capital stock 12 are leased), and under construction Perryville to Nashville, 92 miles. originally $210,000, par $15 per share, but being bought by investors Local aid to the extent of $600,000 was secured between Memphis for $65 a share thit;1 is now taken as par value, and whole amount as and Nashville, but partly lapsed. . $910,000. Leased to Staten Island Rapid Transit Co. for 99 years from From July 1 to Nov. 30, in 1891 (5 months), gross earnings wer& July 31, 1884, at $80,600 per annum, which pays $4 per share on stock $96,778, against~$97,988 in 1890; net, $28,277, against $30,532. Interest on bonds and organization expenses. In year ending June 30, 1891, gross earnings were $214,229; net,. $52,961: interest on bonds, $130,200. Stock authorized, $25,000 per Staten Island Rapid Transit KK.-Owns line of road around mile; outstanding, $3,144,000; par, $100. Trustee of first mortgage,,. the Staten Island shore, east and north sides, from Vanderbilt Landing Central Trust Co., New York. Pres. John Overton, Jr.-(V. 51, p. 830. (junction with the Staten Island Railway) to a point opposite Elizabeth 908; V. 53, p. 8'79.) port, N. J.; total owned 10 miles; leases Staten Island Railway, 13 miles; total operated 23 miles. It has a 99 years' lease of the Staten Island Terre Haute & Indlanapolls.-Owns from Indianapolis to IlliRailway and controls the ferries to New York City. The bridge over the nois State line, 79 miles, with coal branches, 41 miles; total, 120 miles. Kills at Elizabeth:\>Ort was completed in 1890, and since July 1. Leases Terre Haute &Logansport RR., 183 miles; St. Louis Vandalia & 1890 the entire freight traffic of the Baltimore & Ohio RR. Co. to and Terre Haute, 158 miles; Indiana & Lake Michigan RR., Sou th Bend, from New York has been handled by this company. See V. 51, p. 718. Ind., to St. Joseph Harbor, Mich., 40 miles; total, 501 miles. Leases the· The Baltimore & Ohio guarantees the 2d mort&"age bonds of this com- St. Louis Vandalia & Terre Haute RR. (which see) on joint account pany, and owns a majority of its stock of $5u0,000 (par $100). The with the Pittsburg Cincinnati Chic. & St. L. RR., at 30 per cent of gros1 income bonds are held by the Baltimore & Ohio and the Staten Island earnings, but guarantees. the 1st and 2d mortgage bonds. In 1890 a Rapid Transit companies, one-half each. general settlement was made with the St. Louis Vandalia & Terre Haute From July 1, 1891, to October 30, 1891 (5 months), gross earnings for amounts due that company, by the payment of $287,157 in cash and were $523,605, against $!'>23,929 in 1890; net, !j,220,866, against $224,- $657,665 in notes, payable $25,000 monthly, beginning with August l.1 565. 1890. This company owns $500,000 common and $326,000 preferre~ Fiscal year now ends June 30. In year ending June 30, 1891, gross stock of the St. Louis Vandal. & T. Haute. The Indiana & Lake Michigan earnin~s were $1,030,467; net, $346,326; interest, $185,000; rentals, is leased for 99 years and its bonds guaranteed, principal and interest. etc., $.Ll2,851; surplus for year, $48,476. In 1889-90 gross, $944,419; Dividends since 1876 have been: In 1877, 6 per cent; from 1878 to. net, $295,980; deficit under fixed charges, $2,904.-(V. 50, p. 207,622; 1884, inclusive, 8; from 1885 to February, 1892, both inclusive, at the V. 51, p. 172, 609; V. 52, p. 239,707; V. 53, p. 187.} rate of 6 per cent per annum.-(V. 50, p. 275.) • In year ending October 31, 1890, gross earnings, $1,213,619; net Summit Branch (Pa.)-This company's business is almost earnings and other receipts, $419,477, against $330,643 in 1888-89;. entirely in mining coal; it leases the Lykens ,Valley RR., Millersburg interest and 6 per cent dividends, $261,289; loss on Tene Haute & to Williamstown, Pa., 20 miles, and has a small branch of its own to Logansport and Indiana & Lake Michigan was $18,011; surplus, Summit Mines, 34 of a mile. Operated by the Northern Central under $140,175, against $42,460 in 1888-89. contract. Pennsylvania RR. owns $2,190,100 stock and $480,000 bonds. In 1889 gross earnings were $1,191,142; net, $66,450; deficit under Terre Haute & Logansport.-Owns from South Bend, Ind., tocharges, $14,049. In 1890 gross, $1,123,754; net loss, $20,769; deficit Rockville, Ind., 160 miles; leased Rockville to Terre Haute, 22 miles; under charges, $101,199. In 1891 gross $1,289,820; deficit under total operated, 183 miles. Formerly Logansport Crawfordsville & Southoperating expenses, $19,568. (V. 46, p. 173, 228 ; V. 50, p. 230.) western, which was sold in foreclosure September 10, 1879, and reorganized under present name. Leased by Terre Haute .& Indianapolls· Sunbury Hazleton & Wllkesbarre.-Sunbury to Tomhicken RR. for 99 years from December, 1879, at 25 per cent of gross earnmgs, Pa., 43 miles. Foreclosed March, 1878. Of 1st mortgage $1,000,000 and first mortgage bonds guaranteed by that company. Stock, $500,is series A. Stock ($1,000,000) and $182,000 lsts (series B) and $488,- 000; . J.>ar $50. Rental in 1888-89, $142,284; loss to lessee, $26,894 ; 600 incomes are owned by the Pennsylvania RR., which pays net earn· rental ill 1889-90, $148,538,; loss to lessee, $1,766. ings as rental. Sinking fund for lstmortgage now draws about $9,500 bonds yearly at par. Gross earnings in 18901 $547,106; net over Terre Haute & Peorla.-Road OJ?erated from Terre Haute expenses and taxes, $257,199, against $225,392 ill 1889; surplus over Ind., via Decatur, to Peoria, Ill., 173 miles, of which 144 miles arefixed charges, $115,099; dividends (6 per cent), $60,000. J. N. Du owned and 29 miles is by tracka~e over other roads. Formed in JanuBarry, President, Philadelphia. (V. 48, p. 763; V. 50, p. 702; V. 52, p. ary, 1887, as successor of the Illinois Midland. Stock is $2,160,000 pre-ferred 6 per cent non-cumulative and $3,240,000 common; par, $100761.) The bonds were isEmed to ~ay off receiver's certificates and to furnish Sunbury & Le-wlsto~n.-Selinsgrove Junction to Lewistown, Pa., money for steel rB,lls, eqmpments, &c. In calendar year 1890, gross, 43 miles. Leased for 99 years from July 1, 1876, to Pennsylvania Rail- $352.098; net, $92,392; surplus over interest, $2,392. In year ending_ road for contingent interest in net earnings, which in 1886 were SeJ?t, 30, 1891, gross earnings were $363,721; net, $112,568. C. W .. $123,536; in 1887, $156,709; in 1888, $123,619; in 1889,$154,179; in Fau-banks, President, Indianapolis, Ind. V. 52, p. 121. 1890, $224,967. Dividends-In 1891, Oct., 4 per cent. Texas CentraJ.-Line of road from Ross, in McLennan County toSuspension Bridge & Erle .Tuncton.-East Buffalo Junction Albany, Texas, 177 miles; Garrett to Roberts, 52 miles; total, 229 miles_ 'bo Niagara Falls and Suspension Bridge, 23 miles; Lockport & Buffalo Defaulted in interest in 1885 ; property sold in foreclosure April 22, Railroad leased, 14 miles; total operated, 37 miles. Road opened Janu- 1891, and purchased by Charles Moran, C. B. Gould and H.K. McHarg,,. ary, 1871. It is leased to New York Lake Erie&Western Railroad Com- of N. Y., for $750,000. In September, 1891, the terms of sale having pany at 30 per cent of gross receipts, which are guaranteed to be not been complied with, application was made to the U.S. Circuit Court;, less than interest on bonds, $70,000 per annum. Lessees own $203,000 for possession of the property, then operated by the Houston & Texas. Central. In 1890, gross, $304.,527; deficit under operating expenses. of the stock ($500,000). and taxes, $38,874, against net of $20,248 in 1889.-(V. 48, p. 160; v. Syracuse Binghamton & Ne,v York.-Owns from Geddes, N 52, p. 165, 204, 499, 609, 681.) Y., to Binghamton, N. Y., 81 miles. Chartered as Syracuse & BinghamTexas & Ne~ Orleans (oC 18'74).-Houston, Tex., to Orangeton, and opened October 18, 1854; foreclosed and reorganized April 30, 1857, and controlled by Delaware Lackawanna & Western. From July (Sabine River), 104 miles; and Sabine City to Rockland, 104 miles;. 1, 11390, to June 30, 1891, gross earnings were $864,241, against total, 208 miles. Belongs to the Huntin~on Southern Pacific system., $856,594 in 1889-90 ; net $397,302, against $411,282; surplus over together with the Louisiana Western. This was a reor~anization, 1874, charges and dividends, $22,464, against $31,(H4; dividends (8 per cent.) of the old Texas & New Orleans Railroad. The stock, 1s $5,000,000, all but $2,500 of it being owned by the Southern Pacific. In addition to· -(V. 51, p. 345; V. 52, p. 280,707; V. 53, p. 568.l above bonds there are $431,232 Texas School bonds. Subsidy lands · Syracuse Geneva & Cornlno-,-Owns from Corning, N. Y., to Jan. 1, 1891, were 730,220 acres; other lands 114,481 acres. From January 1 to Nov. 30, 1891 (11 ,months) . gross earnings were, Geneva, N. Y., 58 miles, and Penn 'yan to Dresden, 6 miles; total, 64 miles. This road was opened December 10, 1877, and is leased to the $1,523,353, a~ainst $1,735,696 in 1890; net, $666,072, against $817,551 _ Gross earrungs in 1889 were $1,747,805; net, $707,222. In 1890, Fall Brook Coal Company at a rental of 3313 :per cent of its gross earnings. Stock is $1,325,000 (par $100), of which New York Central & gross, $1,871,818; net, $879,747; surplus over charges, $562,865. Hudson River owns $662,600, besides $113,000 7 per cent bonds. In Texas & Pacific.-( See Map.)-Owns: Eastern Division-From1890-91 gross earnings were $669,073 ; net, $167,917; charges and Texarkana to Fort Worth, via Whitesboro, 244 miles; Texarkana Junc-dividends, $190,306; deficit to lessee, $55,107. (V. 53, p. 568.) tion to Fort Worth, via Marshall, 248 miles; Marshall to Shreveport,. Syracuse Ontario & Ne~ York.-Ownsfrom Syracuse, N. Y., to 40 miles; total eastern division, 532 miles. Rio Grande Division-Fort Earlville, N. Y., 45 miles. The road was twice sold in foreclosure and Worth to Sierra Blanco, 524 miles; Sierra Blanco to El Paso (joint NOrianized under present name in 1883. The West Shore acquired con• track), 92 miles; Gordon Branch to coal mines, 3 mile~; total Riotrol of the property. It is proposed to issue$350,0004 per cents. Stock Grande Division, 619 miles. New Orleans Division-Formerly (New Or- authorized, $750,000; outstanding, $446,000-par, $100. In year end- hc1,118 Pacific Railroad)-Shreveport to New Orleans, and Baton Rouge ing September 30, 1890, gross earnings were $117,134, net, $9,639; bnuwn, 346 miles. Total of all, 1,497 miles. The Texas & Pacific was built under act of Congress of March 31 deficit under charges, $44,360, against $46,762 in 1888-89. 1871, and other acts in 1872 to 1874, and the laws of Texas. Tennessee Mldland.-In operation since July 1, 1889, from MemIn 1888 the company was reorganized pursuant to the plan in V. 43,. phis, Tenn., to Perryville, on the Tennessee River, 135 miles (of which p. 164 and V. 45, p. 401, without having the Court confirm the sale in https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .JANUARY, 1892,) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RAILROAD STOCKS .AND BONDS. 127 MAP OF T HE TOLEDO, ANN ARBOR NORTH MICHIGAN AND RAILWAY & CONNECTIONS. '"\,..-, • ~ 00 ~ ~ U1 ~ 0 ~ oa U1 q l"'d ~~ t_rj z ~ MAP OF THE TOLEDO & OHIO?CENTRAL R'Y AND OF" THE KANAWHA https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis &, MICHIGAN RAILWAY. ~~ ~ 1-4 ~ ,J.al.NUA.RY, RAILROAD STOCKS AND BONDS. 1892,] 129 Subscribers urlll confer a great favor by giving lln1nedlate notice of any error discovered In these Tables. I INTEREST OR DIVIDENDS. RAILROADS. 1.lionas-..Pri.nol1 Miles Date Size, or pal, When Due. Amount l!'or explanation of column headings, &c., see notes of of Rate f.er When Where Payable, and by Stock.s-Last on first page of tables. Road. Bonds ~~e. Outstanding Oen . Payable Whom. Dividend. I e: ,Texas & Pacific.-(Ooncluded.) 1888 $1,000 $21,049,000 1,000 23,227,000 1888 1852 500 &o. 239,500 1,000 125,000 1876 1875 1,000 265,000 1875 500 &o. 160,000 100 6,200,000 1,000 1,260,000 2,120,000 1884. 1,000 1886 1,000 400,000 1,000 1886 1,260,000 1,000 1889 600,000 1,000 1890 636,000 1,000 1889 800,000 100 4,849,000 .... .... 100 3,706,000 ---· 1,000 3,000,000 197 743,151 '87-90 '45 1885 100·&0. .650,000 1,000 850,000 60 1888 100 4,500,000 230 1,000 4,800,000 230 1887 135,000 230 1888 Various 1st consol. mo.rt. for $25,000,000, 1,old ......... 1,497 2d consol. M.,illcome,non•cum.($2 ,000,000),g.c 1,497 46 1 :o~gt;: -~~~.~ .~~~ ~.~~~.~~~ .~~~~:::: 46 Extension bonds ...... : ............................ 46 Elmira State Line Railroad 1st moriage, guar .. 7 ~oledo Ann .A.rb01· d! North Michigan- tock ........ Tol. A. A. & Gr.Tr. (South Div.) 1st mort~., Erold. . 63 Tol. A. A. & N. M. 1st M. g.,A.A.to St.LOUlS, ich. 106 21 Tol. A. A. & Mt. Pleasant 1st mortgaged gold .. c* 63 Tol. A. A. & Cadillac 1st mortar,J;e, gol ....... c* Tol. A. A. & L. Mich. 1st M., Ca · ac to Copemish. 40 Consol mortgage for $10,000,000, lfld ......... c .. 256 -:I'oledo Ool. d! Oinn.-lstmort., gold( or$2,500,000) .... fio&rf!;i,,u 'Toledo d! Ohio Oentral--Stock ....... ................. Preferred stock ..................................... ·1st mortfa\e, ~old ... . .............................. Car trus s, eries 2, 3 and 4 .•.•.................. '8:oledo d! Ohio CentralExtens.-Mar. Mineral 1st M .. Consol. morW,age, %old, for $1,500,000 ...•..... c* Col. Peoria d! est.- tock ...................... : .... 1st mortgage, new (for $5,000,000) ..........•. e* Scrip for coupons in 1888 (payable at will) ....... issi iss5 5 g. J. & D. N.Y.Mcr. Tr. Co.,&Phil. June 1, 2000 5 g. Mch. 1. Dec. 1, 2000 None fcaid. 5 g. M.&N. Phil.,Newbo d'sSon&Co Nov. 1, 1915 7 M.&N. N. Y., N. Y. L. E. & W. Nov. 1, 1896 7 A. & 0. Elmira,Chemunt;>.Bk. Oct. 1, 1905 A. & 0. 7 Oct. 1, 1905 do o ..6.g. J." .&.. J . N. Y., Farm. L. & Tr. Co. Jan:· 1; ·i921 6 g. M.&N. N. Y ., Central Trust Co. May 1, 1924 6 g. M. & S. N. Y., Office, 150 B'way. Sept. 1, 1916 6 g. M.& S. Mch. 30, 1917 do do 6 g. J. & J. July 1, 1919 do do 5 g. J. & J. N. Y., Farm. L. & Tr. Co. Jan. 1, 1940 5 g. J . & J. N. Y., Central Trust Co. July 1, 1939 1 N. Y., Central Trust Co. Aug. 15, 1891 Jan.25,1892 Q.-J. do do 114 5 g. J. & J. July 1, 1935 do do By installm'ts. Quar. ""ti°g. M.&N. N. Y., Coffin & Stanton. May 1, 1915 5 g. M.&N. Nov. 1, 1938 do do ---······· ..4.g. J."·&--J. N. Y., Moran Brothers. Juiy·1,··i917 April. N. Y., Farm. L. & Tr. Co. Apr. 1. 1893 4 ----- ~ 'foreclosure made in November, 1887, thus preserving the original Fed,eral charter. At the reorganization a land trust was formed. See in this SUPPLEMENT under the title Texas Pacific Land Trust in "Miscellaneous <Companies." Trus~teCe of ~si:-irdtgf~ of 0lf888 is Fdidelirtty Insurfa~c8e88T~st & eposi o., 0 a e P a; secon mo gage O ercan Trust Co., of New York. The 2d mortgage bonds contain the following ,clause: " On and after March 1, 1892, the trustee of the mortgage ~ecuring these bonds, in case of non-payment of full interest at 5 per -0ent per annum, shall, on request of the holders of not less than onethird of the bonds outstanding, enter into possession of the mortgaged property and manage the same under the direction of a committee apJ>Ointed by a majority of the bondholders, until payment o.f intereat ill lfull." (See mortgage abstracts, CHRONICLE, v. 47, p. 82.) There aro 3lso a Texas school loan of $150,000, for which $167,000 consolidated 5s are reserved, and $99,000 old bonds unredeemed. Stock authorized, $50,000,000; outstanding, $38,710,900, of wW.ch Missouri Pacific on .July 1, 1890, owned $6,525,000. Price of stock since May 9, 1888, (new stock)-In 1888, 187s'£ll26!lt; tn 1889, 1712@23; in 1890, 12@2412; in 1891, 10!\i,@16:5s; in 1892, to .January 22 inclusive, 1214 @14:5s. From January 1 to Aug. 31, 1891 (8 months), gros!! earnings were $4,159,215, against $4,289,329 in 1890. Annual report for 1890 was in the CHRONICLE, v. 52, p. 461, and gave •xtended remarks upon the operations of the road. INCOME ACCOUNT 1888. 1890 1889 D S:J: $ Receipts- $ $ 'Total gross earnin~ ................ 6,374,386 Net earning-s ......................... 1,302,717 <>ther receipts....................... 130,936 6,917,802 1,671,744 178,909 7,327,711 1,467,006 _151,156 Total income ...............•.... 1,433,653 1,850,653 1,618,162 109,665 1,279,490 94,978 1,279,490 Deduct- Rentals and sundries .............. . 'Interest on debt ..............•...... Surplus for year................. 461,498 243,694 New equipment and real estate..... 174,164 390,383 Balance.......................... 287,334 def.146,689 -(V. 50, p. 350; V. 51, p. 681; V. 52, p, 121,461; V. 53, p. 257.) T hird A venue. -See "Miscellaneous Securities." T loga.- State line junction, N. Y., to Hoytville1 Pa., 61 miles, and Blossburg, Pa., to Morris' Run, Pa., 3 miles, of which is leased Elmira .13tate Line Railroad, State line New York to Northern Central Railway .Junction, 7 miles; and Arnot & Pine Creek Railroad, Arnot Junction to Hoytville, Pa., 12 miles. Controlled by New York Lake Erie & Western. In year ending June 30, 1891, gross earnings were $272,617; net, -$109,033; interest, $50,475; rentals, &c., $17,233; surplus, $41,325. The stock is $391,200 common and $189,700 preferred; par, $50. T oled o Ann Arbor & North Michigan.-( See Map.)-Owns 'from Toledo, 0., to Copemish, 276 miles, and branch to Macon Stone -'Quarry, 3 miles; total owned, 279 miles. Leases Frankfort & South·-eastern Railroad, Copemish to Lake Michigan, 23 miles. Total operated, 302 miles. It is proposed to build an extension 140 miles in length from Marion to Matkinaw. See V. 52, p. 641. Capital stock is $6,200,000; par, $100; car trust debt, $150,,000. The first mortgage of 1881 covers the Southern Division, formerly •ealled the Toledo Ann Arbor & Grand Trunk Railroad, and the mortgage •Of 1884 covers road between Ann Arbor and St. Louis, Mich. Under --the consolidated mortgage of 1890 (trustee, Farmers' Loan & Trust •Company), sufficient bonds are reserved to replace divisional securities when due, and the remainder are to be issued for new road at $18,000 l)er mile of n~w lines, with $500,000 for terminals, &c., but limited t o · it!l0,000,000 ill all. (See v. 50, p. 423.) From January 1 to Oct. 31, 1891 (10 months), gross earnings, $862,112, against $959,450; net earnings, $331,399, against $350,331 in ·1890. Fiscal year ends December 31. Report for 1890 was in V. 52, p. 641. . 1887. 1888. 1889. 1890. Average mileage........... . . . . 234 250 286 $ Gross earnings ............. 535,752 ~Oper'g expenses and taxes.342,606 $ 687,579 433,392 $ $ 1,014,307 1,127,208 686.205 728,921 398,287 340,200 4 160 ___, __ Surpl f 8 346 17 387 33 302 53 927 Jame-::SM~r ·Pr.esident', 150 Broadway, New York. (V. 50, p. 423, 558; V. 51, p.143, 459,715,753; V. 52, p. 165,428,641,796; V. .53, p. 969. Toledo Colulllbus & Clnclnnatl.-Owns from Toledo to Kenton, O., 72 miles, and in progress, via Marysville, to Columbus, o. This was r.ahe Toledo Columbus & southern, foreclosed October 16, 1888. stock, ~-$2,400,000; par, $100. . Net earnings ............. 193,146 Interest on debt ............ 184,800 Miscellaneous ...................... . 1:.:;rey: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 254,187 236,800 328,102 294,800 j From July 1, 1891 to Nov. 30, 1891 (5 months), gross earnings were In year ending June 30, 1891, gross earnings were $324,677; net, $119,203. In 1889-90 gross, $294,319 ; net, $14.2,583. Stevenson Burke, President. (V. 49, p. 374.) Toledo & Ohio Central,- (See Map)-Owns from Toledo, to Corning, 184 miles, including 12 miles leased; Thurston to Columbus, 29 miles, including 5 miles lea ed ·, total owned, 197 miles. Leases also, Corning southwardly, 13 miles; Glouster to Carrington, 11 miles ; total leased, 41 miles; total operated, 238 miles. This company was formed after sale in foreclosure of the Ohio Central main line on Anril 15, 1885. In October, 1890, a large interest in the Kanawha & Michij?an (which see) was acquired, and in February, 1891, it was agreed to guarantee its bonds, principal and interest. See V. 51, p. 457; V. 52, p. 165, 351. The preferred stock outstanding is $3,705,000; common, $4,070,600; par both, $100. Common stock was increased in February, 1891, from $1,849,000 to $4,849,000, but $778,400 of this is in the company's treasury. The preferred is entitled to 5 per cent non . cumulative, then common to 5 per cent, then preferred to 2 per cent, then common to 2 per cent, after which both share equally. Dividends on common: In 1891, May, 1 per cent; Aug., 1. Dividends on preferred in 1890, April, 112 per cent; June, 1 per cent; October, 114; in 1891, January, 114; April, 114; July, 114per cent. Price of common stock: In 1886, 26@3812; in 1887, 20@35; in 1888, 23@35; in 1889, 301i>40: in 1890, 4212@68½!; in 1891, to Nov. 20 inclusive, 45@61. Price of preferred stock: In 1886, 4614@6312; in 1887, 40@5812; in 1888, 35@56; in 1889, 50@73¼; in 1890, 6814@95; in 1891, to Nov. 20 inclusive, 78@88. The first mortgage is for $5,000,000, but no more than $3,000,000 ean be issued except by consent of three-fourths of the present bondholders. The Columbus & Hocking Valley RR. Co. endorsed on the bonds their guaranty of the interest, but in September, 1891, notified the Toledo & Ohio Central that the guaranty would be disre~arded as no consideration had been given. See CHRONICLE, v. 53, p. 436. From July 1, 1891, to Nov. 30, 1891 (5 months). gross earnings were $699,695, against $709,262 in 1890; net, $259,244, against $238,229. Fiscal year end~ June 30. Report for 1890-91 was in V. 53, p. 602. INCOME ACCOUNT 1887-88 1888-89, 1889-90. 1890-91 $ $ $ $ Gross earnings ............. 1,167,576 1,163,817 1,388,749 1,501,822 Net over op. ex.and taxes. 360,827 344,526 545,639 468,015 Other income ............... 22,084 30,760 33,018 I ~147,205, against $134,680 in 1890; net, $46,822, a€!ainst $45,853. 0., Total. ..................... 360,828 366,610 576,399 501,033 Interest on bonds .......... 150,000 Interest on car trusts ...... 35,628 Rentals ..................... *13,979 Dividends ................... Miscellaneous .............. 16,070 150,000 37,088 29,256 438 150,000 31,636 30,133 92,625 555 150,000 36,878 33,019 167,966 14,802 Total. ........•..•...... 215,677 Balance, surplus .....•... _. 145,151 216,782 149,828 304,949 271,450 402,665 98,368 Deduct- * Balance of rentals paid over rentals received. -(V. 51,p.303,415,457; V. 52,p.165,351,498; V.53,p.186, 602.) T o l e d o & Ohi o Centra l Ext ensio n .-( See Map. >-Owns from Marietta to Newton, Ohio, 45 miles, connecting with the Toledo& Ohio Central main Line; branches to Stewart, etc., 15 miles; trackage Marietta. to Moore-'s Junction, Ohio, 3 miles. Total, 63 miles. Purchased the Marietta Columbus & Northern in 1888 and completed extension to Newton in 1890. Consolidated mortgage issued to build extension and for equipment and $650,000 held ill escrow to pay off the Marietta Columbus & Northern 1st mortgage at maturity. Of these bonds $300,000 cNos. 1 to 300) have interest guaranteed by the Toledo & Ohio Central (main line). Stock is $1,500,000; par, $100. In 1890 gross earnings, $109,312; net, $58,036; against net of ¾7,697 in 1889. T o l e d o P e o ria & Western.-Owns from Indiana State line to Warsaw, Ill., 220 miles; branch, La Harpe to Iowa, ill., 10 miles; trackage to Peoria and to Burlin~on, Ia., 17 miles; total operated, 247 miles. This was formerly the Toledo Peoria & Warsaw, then the Toledo Peoria & Western, and was leased to Wabash; sold in foreclosure October 29, 1886. Stock, $4,500,000; par of shares, $100. Abstract of mortgage (Charles Moran, Thomas Denny and Cornelius B. Gold, trustees) V. 45, p. 242. The company funded part of coupons in 1888 in 4 per cent scrip certificates due April 1, 1893, but redeemable. at option of the company. · From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $448,446, agaj.nst $410,947 in 1890: net, $135,809, against $115,028. The comparative results for four years past are as follows: Earnings. Net Revenue. Int.cl! Taxes. Surplus. Dej'wit. 1887-88 ... $948,524 $233,791 $214,707 $19,084 ....... . 1888-89 ... 903,936 208,193 225,077 .... .. . . ~16,883 4 30 1889-90 ... 938,830 227,635 227,205 1890-91. .. 926,548 243,566 230,263 13,303 • • ••.••• -(V. 4.9, p. 5 0 3; V. 51, p. 303,456; V. 53, p. 4 0 '7,) 130 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. [VOL, LIV. MAP OF THE OLEDO & OHIO CENTRA TENSION RAILROA AND CONNECTION ~ \. o Eagle Mills Ieasan on e.'\ 0 any ~ .. '\,9' co9,\s-. ,g_oc~\ esvllle Klll~Uty ,. ,.. MAP OF THE ei, TOLEDO, ST. LOUIS KANSAS CITY De Witt AND RAILROAD AND CONNECTIONS. r/.2 Q z 0 i:q A ~ r:n. ~ 0 ~ E-1 r:n. ~0 ~ H <l ~ ~ ....., ~ ~ .-4 L- ~ ~z ~ \ Beri \ .J.. _LA https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7Rogers R s Crossvllle 0 INVESTORS' SUPPLEMENT. [VOL, LIV, Subscribers will confer a great favor by giving immediate notice of any error discovered in these Table•• RAILROADS. I I 4, INTEREST OR DIVIDENDS. Bonds-Princ1 Date Size, or Amount -----------------1pal,WhenDue, of of Par Outstanding Rate per When Where Payable, and by Sto~lrf-Last Road. Bonds Value. I Cent. Payable Whom. Dividend. - - - - - - - - - - - - - - --------1 Miles For explanation of column headings, &c., see notes onfirstpage of tables. .... $100 $9,231,000 :l.oledo St. Louis & Kansas Oity.-Com.mon stock ... 451 100 5,305,000 Preferred stock, 4£er cent, non cumulative...... 451 1,000 9,000,000 1st mortgage, gol (redeemable at 105) ........ c* 451 1,000 1,560,000 96 1888 Toledo Saginaw & Muske!ion-lat mortgage, gold .. 1,000 500,000 60 1881 Tonawan a Valley & Ou a-1st mortgage .......... 26 1883 1,000 250,000 Jlraverse Oity RR.-lst mo~age ................... ,. 165,000 10 1887 500 &c. Pucson (J.lobe & N . .A.r.-lst ., s. f. (red. at llO)c 1,000 1,393,600 Ulster d Delaware-Consol. M. or $2,000,000, g .. c* 78 1888 100 60,868,500 Union Pacific-Stock ....... ........................... 1st mortgage, Omaha to near Ogden, 1,035 miles 1,035 1866-9 1,000 27,229,000 2d mortgage, currency (Government subsidy) .... 1,035 1866-9 1,000 27,236,512 1,000 6,162,000 3d M. on road (2d on land) i,$&£,s.f.not dr'n.o&r l,03~ 1874 £200 1871 887,000 Omaha bridge bonds (s. f. awn at 110) ..... o*&r 1,000 1885 734,000 4 Renewal (sinking fund, not drawn) ............ o 1,000 3,931,000 1879 Collateral trust bonds, ~old, s. f. drawn at 105 . o" 1,000 5,008,000 1883 Collateral trust bonds o 1883, fold, s. f. not dr'n 1,000 Denver L'dv. & Gun. collat. trus ($3,250,000) .. o* 325 1889 2,058,000 1,000 Equip. bonds Series A, 1 1 o due yearly in Oct _~- o* 1887 502,000 Do Series B, 1 10 due yearly in April .... .... 1888 1,000 1,473,000 1,000 389,000 Do Series C, 110 duuearlyin October. -··· 1890 1,000 2,240,000 Kansas Pao. Eastern Div. 1st ., $16,000 per mile 140 1865 Middle Div. 1st mortgage, $16,000 per mile, g. 253 1866 1,000 4,063,000 i886 f ---· ---- ---- .... ..... .......... ..6.g. J."·&·o. N. Y., Bk.-of.No. Amer. J. & J. N. Y., Office, 271 B'way. 5 M.& S. Last paid March, 1884. 6 3 J. & J. N. Y., Winslow, L. & Co. 7 g. J. & J. Bos.,Am.L.&Tr.Co; Lon 5 g. J. & D. N. Y., Central Trust Co. Q.-J. N. Y., Un. Trust & Bost. 1~ 6 g. J. & J. do do J. & J. U.S. Treas., at maturity. 6 M. & S. N. Y., Un. Trust & Bost. 8 8 g. A. & O. London &N. Y., Un. Tr. 5 g. A. & 0. N. Y., Union Trust Co. 6 g. J. & J. do do 5 g. J. & D. Boston, N. Eng. Tr. Co. t12g. M.&N. N. Y., Un. Trust & Bost. A. & O. do do do do A. & 0. 5 A. & O. do do 5 6 g. F. & A. 6 g. J. & D. N. Y., Union Trust Co. ......... June 1, 1916 July 1, 1918 Sept. 1, 1932 Jan. 1, 1933 July 1, 1917 June 1, 1928 Apr. 1, 188 4 1896 to 1899 1896 to 1899 Sept. 1, 1893 Apr. 1, 1896 Oct. 1, 1915 July 1, 1908 Dec. 1, 1907 Nov. 1, 1918 1 10 yearly Oct. 110 yearly Apr 1 10 yearly Oct. Aug. 1, 189 5 June 1, 189 6 which gave the company a land grant of 12,800 acres per mile, est1 mated at a total of 12,083,227 acres, and a subsidy in United States bonds of $27,236,512 on 1,033 miles of road. by consol~da,tion, and it took all the main line of the Toledo Cincinnati The Kansas Pacific was oro-anized as "Leavenworth Pawnee & West & St. Loris narrow-gauge road, foreclosed December 30, 1885. ern" in 1861 ; then changed to "Union Pacific, Eastern Division," June The common stock is $9,231,000. The preferred 4 per cent stock of 6, 1863, and to "Kansas Pacific" on March 3, 1869. The Pacific Rail $5,305,000is a couponstook, non-cumulative, and without voting power. road acts of 1862 and 1864 applied to this road, and gave it a subsidy of The bonds are for $20,000 per mile, and have a first lien on all rolling $6,303,000 and a land grant of about 6,000,000 acres. stoclr and the terminal property at Toledo and East St. Louis. They In 1886 a lease of the Oregon Railway & Navigation RR. to the Oreare redeemable at 105 and interest upon six months' notice, but not less gon Short Line, guaranteed by Union Paci.fie, was negotiated (see V. 48, than the whole issue can be called for payment. Abstract of mort- p. 261.) In November, 1890, there was a change in the management of the .gage (Farmers' Loan & Trust Company of New YorK and Joseph E. McDonald, trustees) in V. 45, :\>· 403. For six months ending Nov, 30, Union Pacific, Mr. Sidney Dillon replacing Mr. Adams in the Presi1891, net earnings (partly estimated) are placed at $325,405 above dency and Messrs. Jay Gould, Russell Sage, H.B. Hyde and A. E. Orr ,operating expenses including taxes, In year ending June 30, 1891, becoming directors. See V. 51, p. 748. As to the debt of the Pacific railroads to the United States Govern gross earnings were about $1,680,282 ; net, $571,766. In 1889-90 _gross, $1,460,050; net, $470,352. New York office, 44 Wall Street. (V. ment, a decision of the United States Supreme Court settled the point that the payment of interest on the loans was not obligatory on the -51, p. 241, 863 ; v. 53, p. 126, 368.) companies till the principal of the bonds became due. Afterwards Toledo Sagina-w- & lUuskegon.-From Muskegon, Mich., to Ash- Conis,ress passed the Thurman Act, May 7, 1878, which, for the Union .J.ey, Mich., 96 miles, connecting with the Toledo Ann Arbor & North Pacific, provided that 25 per cent of the net earnings, after deducting Michigan. On August 1, 1888, the Grand Trunk of Canada purchased interest on the first mortgage bonds and construction and equipment the $1,600,000 stock and above bonds were issued having a traffic guar- expenditures should be paid annually to the Government as follows antee from that road and the Chicago & Grand Trunk. In 1890 gross First-Applied directly to interest aoooun't, one-half of Government -earnings were $110,552; net, $19,127; interest, $78,000. earnings and 5 per cent of net earnings, after deduotin~ interest on Tonawanda Valley & Cuba.-Owns from Attica, N. Y ., to Cuba, first mortgage bonds. Second-To be placed in the sinking fund-the · N. Y., 60 miles, of which only 30 miles, Attica to Sandusky, is operated. other half of the Government earnings and so much of $850,000 as :Stock is $587,100. Receiver was appointed in 1884, and road sold in may be necessary to make all the payments by the company equal 25 .foreclosure January 19, 1891. Concernin~ suit against New York Lake per cent of its net earnings. On January 1, 1891, tne sinking fund, in Erie & Western, see V. 51, p. 569, under neading Bradford Eldred & vested in RR. and U. S. bonds, (par value) was $9,368,400, and the pre -Cuba. Gross earnings in 1889-90, $12,915; deficit, $6,096. (V, 48, p. mium paid on bonds and cash uninvested was $1 737,092; total, $11, 105,492. The debt to the United States at that date was thus stated -562; V. 52, p. 165; V. 53, p. 187.) Principal, $27,236,512; interest accrued and not paid, $817,095; inter Traverse City.-Owns Walton Junction, Mich., to Traverse City, est paid by United States, $36,397,185 ; repaid by Union Pacific, $12, Mi.oh., 26 miles. Leased to Grand Rapids & Indiana till January 1, 999,510; balance of interest paid by United States, $23,397,675. ,1_933; rental, net earnings, which are guaranteed to be not less than For Omaha bridge decision rendered in ·July, 1891, see V. 53, p.157. interest on first mortgage. There are also $190,000 of 5 per cent inSTOCK Al\'D BoNDs.-The capital stock issued and outstanding is $60, ,oomes due January 1. 1933. Stock, $205,000; par,,_ $100. In 1890 gross 868,500, having been increased about $10,000,000 since the oonsolida ~arnings were $45,449; net, $5,232; interest, ;;,7,500; loss $2,268 tlon in 1880. .against surplus of $16 in 1889. Dirillends since 1879-In 1880, 6 per cent; in 1881, 6~; in 1882, 7 Tucson Globe &Northern Arizona.-Projeotedand under oon- in ;J..~83, 7; in 1884, 312; none since. Price of stock- In 1880, 80-@113~; in 1881, 105121ill31~; in 1882, ·struotion from Tucson, Ariz., on Southern Pacific RR., to Globe, 110 -miles, with branch to coal fields, 20 miles. Mortgage is for $20,000 per 98141ill19~; in 1883, 701s1ill0434; in 1884, 281il843s; in 1885, 411il62~ in 1886, 4414-@6814; in 1887, 441il63~; in 1888, 481il6612; in 1889, 56¼ mile. ®7114; in 1890, 401il687s; in 1891, 32141il5212; in 1892, to January 22 Ulster & Dela-w-are.-Owns from Rondout (Hudson River), N. Y., inclusive, 455s1il5014. to Stamford, N. Y., 74 miles; branch to Hob.art, 4 miles; leases DelaThere are $18,000 Leavenworth branch 7 per cent bonds due January ware & Otsego RR., Hobart to Bloomville, 9 miles; total, 87 miles. 1896, and $4,000 Denver Pacific bonds. In 1890 parties interested in the New York Central and Delaware & The Union Pacific collateral trust 6s are limited to 80 per cent of the Hudson came into control. An extension from Hobart to Oneonta following bonds: Omaha & Republican Valley RR., $935,000; Colorado is being built under the charter of the Delaware & Otsego RR. Stock au- Central RR. bonds, $1,895,000; Utah Northern RR., $2,149,000; total, thorized, $3,000,000; outstanding, $1,694,100; par, $100. Finances $4,979,000. The collateral trust 5s of 1883 are secured by the following ,r eadjusted in 1888 and consolidated mortgage issued to retire old 7 per bonds: Colorado Central RR., $1,268,000; Utah & Northern RR., $2, -,cents. The balance of oonsols unissued is reserved for future extensions. 027,000; Omaha & Republican Valley Railroad, $622,000; Omaha & From July 1 to Sept. 30, 1891 (3 months), gross earnings were Republican Valley Railway, $1,961,000; Utah Southern RR. extension, -$140,476, against $135,307 in 1890; net, $60,674, against $63,296. $85,000; total, $5,963,000. In year ending June 30, 1891, the gross earnings were $376,144; net, The collateral trust bonds or 1889 on Denver Leadville & Gunnison -$118,617. Surplus over charges, $46,333. In 1889-90 gross, $360,068; Railroad (formerly Denver South Park & Pacific) are secured by mort~et, $116,161; surplus over charges, $51,916. Edwin Young, Pres't, gage bonds on that narrow-gauge road at $11,000 per mile, $22,200 per mile being authorized for extensions. There is a sinking fund, but ..Albany. (V. 51, p. 172,241; V. 53, p. 603.) bonds cannot be called. Company's stock is owned by Umon Pacific. Union Pacific Kallw-ay.-(See Map.)-Lines owned directly.The Union Pacific guarantees either as to principal and interest, or as Main line (former U. Pao. RR.) Council Bluffs to Ogden and branches, to interest only, certain securities of the following companies, full in· 1,038 miles; former Kansas Pacific Railway, Kansas City to Denver, formation concerning which will be found under their respective heads '643 miles, and Leavenworth to Lawrence, 34 miles; former Denver Oregon Short Line & Utah Northern; Oregon Railway & Navigation Pacific Railway, Denver to Cheyenne, 106 miles; total owned, 1,822 (through guaranty of lease); St. Joseph & Grand Island; Union Pacific miles. Denver & Gulf, and Union Pacific Lincoln & Colorado. The "Union Pacific System" on January 1, 1891, was made up of The outstanding bonds of Kansas Pacific above are given less the the following lines :amounts of each class held by the trustees of the consolidated mortgage. Miles. Miles. The consolidated mortgage trustees are Jay Gould and Russell Sage, Union Pacific ................. 1,822 *Kansas City & Omaha . . , .... 193 and they held in trust on January 1, 1891, the following bonds of ttr.1 Denv. Leadville & Gunnison 324 *Un'n Pao. Denver & Gulf... 945 Kansas Pacific, making $6,786,850 in all, viz.: Leavenworth Branch, :K ansas Central. .............. 165 *Ft. Worth &DenverCity .... 469 $582,000; income (unsubordinated) bonds, $241,200; income (sul!O!"'.l L -Omaha & Republican Val. ... 482 *U. P. Lincoln & Colorado ... 225 nated) bonds, $3,992,650; Cheyenne Branch, Denver Paoitl.o bonds, $1,(*Oregon S. L. & Utah Nor..... 1,421 Six small roads............... 269 971,000. They also held $1,980,500 of the stocks and $3,160,000 o --ore. R. &N. Co.'s, rail lines.1,029 - - oonds of companies controlled by the Union Pacific. . *St. Joseph & Grand Isl'd.... 252 Total "Un. Pao. Sys.'' ... 7,598 The Kansas Pacific consolidated mortgage covers the road from Kansas *These properties, having securities of their own held by the public, City to Denver, and branch, 673 miles, subject to the divisional bonds are separately described in this SUPPLEMRN'I' (to retire which sufficient bonds are held) and the United States lien. Also controls the Central Branch Uni1.-11 I acific and leased lines 1388 In Ayril, 1891, a new loan for $20,000,000 of 5 per cent bonds was miles) which are operated by the Missouri Pacific under an authorized, to be called the Kansas Division and Collateral, Mortgage . .agreement with Union Pacific for twenty-five years from 1885. These bonds were only hypothecated as collateral, and in August, 1891 , Also owns jointly with other companies the Leavenworth Topeka & the floating debt being pressing, a proposition was made to the cred· Southwestern, 47 miles; Manhattan Alma & Burlingame, 56 miles; itors to fund the :floating debt of over $19,000,000 into three-year 6 Montana Union, 72 miles; grand total of all lines, including one·half per cent debt certificates, to be taken at 9212. The authorized amount lines operated jointly, 8,073 miles. of this whole issue is $24,000,000. A list of the collateral de:\)Osit:10. ORGANIZATION, &c.-This company, the Union Pacific Railway, was with Messrs. Drexel, Morgan & Co. as trustees, to secure the cer itlcates ,formed by a consolidation, January 24, 1880, of the Union P a cific Rail- and a full abstract of the trust deed were given in V. 53, pp. 528-531. Toad and the Kansas Pacific and Denver Pacific, made under authority They are i ssued in denominations of $1,000 for the coupon notes and of the acts of Oongress of July 1, 1862, and July 2, 1864. The Union $10,000 for the!fregistered. A condensed list of the collateral is as Pacific Railroad was chartered by Act or Congress of July 1, 1862, follows: Toledo St. Louis & Kansas City.-(SeeMap)-FromToledoto East St. Louis, 4-1H miles. In June, 1890, the work of standard gauging the road "'a s completed. This company was formed June 12, 1886, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - -·------=-_....., •i-Y: .. 1 "'-"':. M :MAP OF '11tE ~ UNION PACIFIC; RAILWAY ~ ai ~ Jl:vergreen o ~ P=I ~ 00. ~ fA ' gg ~ J.alceview It \II\ -~----,.G~L.'IIl _______'b Ian~ _,/ ,I Clar1ts Cornucopia ·~ii. 0 I 00. I ~ 0 'o •7:-·-· • o. 0 8 . 1-h""".:o O..A]vord 1 0 I ~fl I v~ i ! • I i 0"Be1mont 1 I. vme .,.. Se,er '.Bristol o ' -\ i ~ ~ ~ t:> z ~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis n , ~ 0 I p· I· ◄ T .A h IOC 8 \ 1 ' • o :Be1ted .Mt. Spr. Indepen ~ce \ saJia ~ <) Ow;~ville ,. I FRIS n 00 l'RO S~LVER delarial" c-i . ITINT ~ c,;i !}a yocK 1 Xee1er ' v ~ ' -" / et e ,~ ·,\ ~ ' l:ll. '- ~- ·- INVESTORS' SUPPLEMENT. [VOL. UV Snbserlbe1·s will conCer a great Cavor by giving Im.mediate notice oC any error discovered In tbese Tables. RAILROADS. INTEREST OR DIVIDENDS. Bonds-Prnic( Miles Date Size, or Amount ,- - - - - - - - - , - - - - - - - -----1pal,WhenDne For explanation of column headings, &c., see notes of of Par Outstanding Rate per Vinen Where payable, and by Sto~k.s-Last on first page of tables. Road. Bonds Value. Cent. Payable Whom. D1v1dend. -------------------1----------I·------ Union Pacific.-( Concluded.) Kan. Pac. 2d m. (to U.S. Gov.) on394m.W.Mo.R... Denver Ex. 1st M., 1. gr. 2,102,000 acres .. c*&r Income bonds ................................... c Cons. M. for$30,000,000, 1. gr. gold, notdr'n .. c* Un. Pac. Kansas Div. and Col. Trust bonds ...... . U. Pac. collat. trust gold notes for$24,000,000. c&r VnionPaciji,cDenvercl: Gulf-Stock for $36,000,000 Colorado Central 1st mort., $15,000 perm...... c Denver Marshall & Boulder 1st mortgage..... . .. . Denv. Tex. & Ft. Worth ],st M. ($20,000 p.m.)g.c* Denver Texas & Gulf 1st M. ($20,000 p. m.) .. c&r Consol. mortgage, gold, subject to call at 105 .. c* Ft. Worth &Denv. C'ity 1st M., g., $18,000 p. m.c* U. Pac. Lin.~ Col.-lst M., g., gu. ($20,000 p. m.).o* Vnited N. J. RR. cf Canal Co.-Stock, 10 p. c. guar.. Gener al}ster.loan,s. f.$36,920 yr. not dr.,g.o Mortgage do do do $36,000 yr. not dr.,g.o of 1871 our. loan, s. f. $40,000 yr. not dr'n.r (now 1st loans of 1901, gold ................. o mort.) se- loan of 1908, gold ............. ..... r cures all loan of 1923, gold ................... r equally.. loan of 1929, gold ................ o&r Bondtr- Par Value. K. C. & Om. 1st 5s.... . $1,595,000 K. Cent. 1st 6s ........ . 1,347,000 1,781,000 712,000 0. R. & N. col. trusts 5s. 1,632,000 Or. Sh.L.&U.N.con.5s. 3,983,000 do do col.tr.5s. 4,573,000 do do prioriss's. 1,764,000 U.P.Kan.Div.& Col. 5s. 5,000,000 U. P. Coal Co. 1st 5s... 5,000,000 U.P. Den. & Gulf 1st 5s. 8,402,000 do do priorissues 1.833,000 Miscellaneous bonds .. 2,585,816 394 1865-7 $6,303,000 236 1869 $i",ooo 5,887,000 427 1866 50 &o. 41,500 675 1879 1,000 12,570,000 1891 . . . . hypothec'ted 1891 l,000&c 20,000,000 100 31,151,700 328 i879 1,000 4,701,000 30 1886 1,000 226,000 165 1887 1,000 1,449,000 138 1887 1,000&c 1,208,000 824 1890 1,000 15,464,000 450 1881 1,000 7,958,000 225 1888 1,000 4,479,000 .... . ... 100 21,240,400 .£200 1,846,000 1869 "" ee 1871 200 1,800,000 ~ i= 1871 1,000 2,000,000 =3 ~ '73-'76 1,000 5,669,000 1:::1 -c 1878 1,000 841,000 oo i= 1883 1,000 1,824,000 ~ ~ 1889 1,000 6,020,000 ··,r }'P . StocksOregon Ry. & Nav.... . O.8.L.&U.N . ....... . U. P. Den. & Gulf .... . U. P. Coal Co ......... . Pacific Express Co.: .. Central Branch U. P .. Miscellaneous stocks. Par Value 5 5 5 5 6 5 g. g. g. g. g. 212 6 6 6 6 6 4 4 g. g. g. g. g. g. 1895 to 1897 N.Y.,Lond_;.n·&Frankf't. May 1, 1899 N. Y., Bk. of Commerce. July 1, 191ts N. Y., Un. Trust & Bost. May 1, 1919 Drexei,"M. & Co . .A.ug:i·;·i894 J. ··&-·J. N. Y., un:Tru.st·& Bost. J. & D. do do M. & N. do do .A.. & O. do do J. & D. do do J. & D. do do .A.. & 0. do do Q.-J. Phila. and N.Y., Offices. M. & S. Lond'n,J.S.Morgan&Co M. & S. do do .A.. & O. Philadelphia, Penn. RR. M. & s. do do M. & S. do do F. & .A.. do do M. & S. do do Juiy · =i:; "i909 June 1, 1916 Nov. 1, 1937 .A.pr. 1, 1937 Dec. 1, 1939 Dec. 1, 1921 .A.pr. 1, 1918 Jan. 10, 1892 Mch. 1, 1894 Moh. 1, 1894. Oct. 1, 1894 Mch. 1, 1901 Sept. 1, 1908 Feb. 1, 1923 Sept. 1, 1929 N. Y., Disbursements- Interest on bonds........................ 9,333,949 9,664,496 Sinking funds . . . . . . . . . . . . . . . . . . . . . . . . . . . • 907,982 1,064,489 Dividends on Oregon Ry. & Nav. stock.. 1,095,114 651,820 Discount and interest.................... 292,950 731,184. Discount on bonds sold, &o........... ..• 169,321 65,714 Loss on roads operated jointly.......... 96,042 15,007 Miscellaneous. . . . . . . . . . . . . . . . . . . . . . . . . . • . 82,506 377,417 Profit and loss............................ 339,003 147,045 Total stocks ......... $57,563,068 ---------Total stocks, estimated Total disbursements................. 12,316,867 12,657,172 value ................. $11,684,694 Surplus................................... 2,130,771 778,686 NotesUnited States requirements............. 1,155,007 1,053,723 Various companies .... $2,342,481 Balance .........•........•••.........•..•. Sur.975,764: Def. 275,037 Total bonds.......... $40,207,816 Total of all,par value.$100,113,365 v · v.1., .- - .P • 142• 143 • 348 • 459 • 538 • 681 • 748 , 786 • 830 •, v • 52 p • 41 , 82 , Estimatedvalueofbds.$28,077,871 121, 126, 428, 535, 659, 678, 681, 899, 939, 940; v. 53, p. 157, 187, LAND GRANT.-The proceeds of land sales on the Union Pacific main 290, 368, 436, 475.) line are applicable to the sinking fund mortgage 8 per cent bonds. On Ualon Pacific Denver & GulC.-(See Map.)-This company's the Kansas Pacific the cash income from land belongs to to the consoli- road extends from Wendover, Wy., to Cheyenne, Wy., 125 miles; Denver dated and the Denver Extension mortgage. On January 1, 1891, the to Pueblo, Col., 124 miles; Trididad, Col., to Texas State Line, Tex., 127 company had in cash and in land contracts from the Union Pacific miles; La Salle, Col., to Julesburg, 151 miles; branches (77 miles of grant the sum of $6,162,095, and the interest to accrue on land con- which narrow gauge), 309 miles; total, 836 miles; trackage, Denver & tracts was estimated at $1,310,000. On January 1, 1891, the Union Rio Grande, Pueblo to Trinidad, 92 miles, and branches, 16 miles; conPacific lands unsold were 3,047,000 acres, estimatedat$2,369,000; the trols Fort Worth & Denver City RR., Texline, Texas, to Fort Worth, 455 Kansas Pacific lands unsold, 3,161,000 acres. estimated at $10,084,000, miles, and Pan-handle Railroad, 15 miles, making a grand total in systhis last including 2,102,000 acres, valued at $5,340,000, covered by the tem of 1,414 miles. This is a consolidation of the Denver Texas & Fort Denver Extension mortgage. Worth and several Union Pacific lines. It is controlled and operated The Kansas Pacific lands, from the 380th mile westward, are covered by U. P. See V. 49, p. 720. first by the Denver Extension mort~age (covering 394th to 639th mile) Capital stock authorized is $36,000,000, of which $31,313,847 had and all the lands of the Kansas Pacific by the consolidated mortgage. been issued on January 1, 1891, $13,250,847 of this being owned by the Union Pacific Company and $3,406,800 by the company itself. In adOPERATIONS, FINANCES, &c.-The company has extended rapidly and dition the stock of constituent companies outstanding on January 1 built and acquired much new mileage. 1891, amounted to $2,523,245. In the table above is given the amount On December 31, 1890, the gross fioating•debt (including bills payable, coupons due January 1, etc.,) was $21,418,094 (against $20,161,613 of , stock reported outstanding by the N. Y. Stock Exchange on Sept. 18, 1891. The company holds in its treasury $7,766,000 of the capital on December 31, 1889) from which deduct cash $433,801; company's stock and bonds, $355,447; bills and accounts receivable, including ad- stock of $9,275,000 of the Fort Worth & Denver City Railway Co. The consolidated mort~a~e of 1890 provides for bonds at $25,000 per vances to branch lines on current account, $13,753,903; balance net mile of single and $35,u0u per mile of double-track of completed railfl.oating debt, $6,874,941, against $4,489,563 December 31, 1889. · From Jan. 1 to Sept. 30 (9 months) the earnings of each division and way (and for further amounts on the pledging with the trustee of cerof the "Union Pacific System" and also the grand total for all lines tain securities), sufficient bonds being reserved to retire the divisional bonds at or before maturity. There is no sinking fund for the consols_, operated were as follows : ,.--Gross Earnings.--. ,--Net Earnings.- but the whole issue as an entirety is subject to call for payment at l0o on any interest day after six weeks' notice. These bonds are indorsed 1891. 1890. 1891. 1890. with the Union Pacific's guaranty of interest. See abstract of mortFirst 11 mos. of fl.seal yr.$ $ $ $ Oregon 8. L. & U. N ...... 6,963,061 6,881,911 2,762,916 2,346,916 gage in V. 51, p. 244. The amount of consolidated mortgage 5s stated in the table to be outOr. Ry. &N. Co. rail lines .. 5,274,528 4,469,217 1,822,255 876,750 Union Pao. Denver&Gulf 5,303,780 5,278,206 1,383,861 1,620,995 standing is that reported by the N. Y. Stock Exchange to have been issued prior to Sept.18, 1891. The Union Pacific report for 1890 gave the St. Joseph & Grand Isl'd. 828,985 1,190,726 179,881 360,006 .All other lines ............ 20,746,030 22,032,847 7,803,391 7,984,959 total outstanding January 1, 1891, as $13,845,000, of wllich the Union Pacific Company held $7,180,000, and ihe company itself $1,035,000. *Total "Un. Pac. Sys." .39,116,384 39,852,907 13,952,304 13,189,626 In addition to these consols there were outstanding at the same date Cent. Br. and leased lines. 773,917 918,893 170,420 200,114 $8,188,000 of old divisional bonds (exchangeable at certain rate for 12 Roadsjointlyowned.. 365,562 470,459 45,302 def. 2,030 consols), of which $4,697,000 Colorado Central 7s, and $248,000 of other issues were owned by the Union Pacific Company, and mostly under its trust deeds. t Grand total of all.. .•. 40,255,863 41,242,259 14,168,026 13,387,708 pledged The company's annual interest charge on account of its $22,033,000 bonds outstanding January 1, 1891, and on account of the Fort Worth * Average mileage 7,668 in 1891, a~ainst 7,560 in 1890. t Average & DenverCity6s, amounted to about$1,674..000, but of this$51,750wa1 mileage 8,143 in 1891, against 8,038 m 1890. on bonds held by the company itself, about $701,000 was on bonds held The report for 1890 was in the CHRONICLE, V. 52, p. 678 ; see also ar- by the Union Pacific and $181,300 was for interest on bonds whose ticle on p. 659. first coupon matures November 1, 1891, these last being certain Denver On the "Union Pacific System" proper, operations were as follows: , Texas & Fort Worth 5s and the consols exchanged for the same. FromJan. l to Nov. 30, 1891 (11 mos.), gross earnings were$5,303,780, OPERATIONS AND FISCAL RESULTS against $5,278,206 in 1890; net, $1,383,860, against $1,620,995. 1889. 1890. Report for 1890 was in V. 52, p. 679, as follows: .A.verage miles operated ....••....•...... 7,389 7,562 EARNINGS, EXPENSES .AND CHARGES. Operations1890. 1889. Passengers carried one mile............. 355,822,732 399,664,486 1,396 1,383 Rate per passenger per mile............. 2·414 cts. 2·336 cts. .A.verage miles operated .................. . $5,783,136 Gross earnings ........................... . $4,595,096 Tons carried 1 m'e, not incl.Co.'sfre'ht.1,950,241,673 2,115,988,741 $1,606,077 $986,530 Rate p. ton p. mile, not incl. Co.'s fre'ht. 1 ·405 ots. 1·381 cts. Net earnings .............................. . g~R~fW.·!~: g:.~.:~: $ $1,035,000 14,990,703 13,251,882 5,000,000 2,400,000 874,200 19,911,283 6 6 g. M:·&·N. M. & S. 7 6 g. M. & N. 5 6 g. F ..&...A.. Deduct- $ $1,247,568 43,049,248 Interest on bonds ........................ . $1,112,673 148,353 30,811,164 Rental of track ........................... . 104,641 Discount and interest and miscellaneous. Net earnings............................. 13,656,049 12,238,084 Total........................ . .......... $1,221,745 $1,500,562 Per cent of oper. expenses to earnings.. 65·58 71·57 The company's income account, including results on all lines op.er• Balance .................................... def. $235,215 sur. $105,515 ated, was as below: -(V. 50, p. 138,197,484, 590; V. 51, p. 143,193, 244; Y. 52, p. 679.) INCOl\iE .ACCOUNT. Union Pacific Lincoln & Colorado.-Owns from Salina to 1889. junction with the Kansas Pao. Ry. at Oakley, Kan., 225 miles. The bonds 1890. Receiptsare guaranteed by Union Pao., by endorsement: trustee of mortgagei_s $ Net earnings ............................ . 13,656,049 12.:38,084 the American Loan & Trust Co., of Boston; sinking fund of 23 of l per Central Branch Un. Pao. net earnings .. 163,554 115,989 cent yearly, but bonds cannot be drawn. Union Pacific owns all the Investments outside of system ......... . 482,180 606,539 stock except what is held by certain counties in Kansas. In 1890 gross Interest on K. P. consol. bonds repaid .. 381,300 ea,rnings, $194,019; net over taxes, &c., $48,326 (against $57,679 in lii11oellaneous ........................... . 145,855 93,946 1889) ; traffic guaranty, $119,093; total net income, $167,420; interest, $223,968, and sinking fund, $30,053; balance, deficit, $86,601, Total receipts........................ 14,447,638 . 13,435,856 against $68,842 in 1889. (V. 47, p. 490, 803.) Gross earnings . .......................... Operating expenses and taxes . . . . . . . . . . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 39,669,600 26,013,551 ioo;o12 ~ " ~ ;<1 w -; 0 y ''I' M I -i~~t'!.1,~:~~,~, N O ;;z »'\.o• ~~ ee... "\.\\).~ o: ~~e ~ "6,0 •• • <;,'9-\).t "'~- So CtO:\. ,.. "i--1 I~ - ~~ • c:/1 A z 0 CQ zA ~ 00 ~ g. ~ ~ A ~ 0 ~ ~ H ~ ~ -• r- ~ MAP OF THE ,-... c.i ~ .... 00 ~· ~ ~ UNION PAClf~C, DENVER GULF RAILWAY co. z ~ 1-) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rl,/. usE ishaJ N c.r _Cimarron o ~ M • J • l~r iI ~~ti/•?~4:=:.,..---.--·--· '·-·-·-· E '4o\.E" \ : AND ITS CONNECTIONS. (j! ~ CHARA ,aoho 0 " f~-,-~""'"' c,l: • •• E L w ~ ~ l ~ E\X I C THE UNION PACIFIC DENVER & GULF , TO FORT WORTH R«l1'Cld Scale. JS-_ RIYRP9 ! T Al INVESTORS' SUPPLEMENT. 136 [VOL, LIV. Subscribers -w-ill confer a great favor by giving hninediate notice of any error discc,vered in these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Bonds-Prinoi INTEREST OR DIVIDENDS. Miles Date Size, or A.mount Rate per When Where Payable, and by pal,WhenDue. Par of of ·Stocks-Last Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. - - ---97 31 12 12 59 83 62 59 Utica Chen. cf: Susq. Val.-Stock,6 p.c.gu. by D.L.&W. Utica Olinton cf: Bin,i'ton-lst M., \uar. D. & H ... c Valley (N. Y.J-Stoc , 5 p. c. guar. y D. L. & W ... 1st mortgage (for $500,000) ....................... Valley (OhioJ-lstmo~aie, Cleve. to Canton ... c* Consol. mort. g.(for ,0 0,000) s.f.,notdr'n.c*&r Valley (Vi1·tnia)-lst mortgage ................... c Vermont & ass.-Stock, 6 p. c. guar. by Fitchbur~ Bonds, notmortgar;,e (gu.ar. byFitchburgRR.).c Vm-mont Valley of 18 1-Stock . ..................... 1st M. with $500,000 Su. Co. RR. stock as col..c* Vicks. Sk1·evep. cf; Pacific-Prior lien mort., gold .• c* }!\T. 0 g.: "ior.$1i,5oo:ooo:: ~= i!!afst ~~~ii. iaii<i," Inc. bds~on-cum. (there are also $127,000 old 6s) Va. Midl' St'ck($4,524,233 owned by R.&W.P.T.) Mort., l stser., lstM. A.lex.to Gordonsv.&br.,97m. 2d series, 1st mort., Charlot. to Lynch., 60 m.). 3d series, 2d lien on 60 miles; 3d on 97 miles ... 4th series, 4 per cent till March 1, 1901. ......•. 5th series, 1st on 115 miles ...................... 6th series ....... ...... ...................... . .... Gen. mort., int. guar. by R. & D., $12,500,000.c* General mort., prin. and.int. ~ar. (endorsed)gold Charlotev.&Rapid.(l'sed) 1st ., s. f.,dr'nailOO.c* Virtnia cf: Truckee-Stock .. ................. .. ...... lf'a ash.R.R.-St.L.K. C. &No. lstmort.(NorthMo.) St. L. K. C. & No. 2d mort., real estate and railway St. Charles Bridge 1st mortgage .............. c" 2d mortgage .............. .. ............ ..... ... 0 50 24 189 189 189 .... "97 157 157 157 272 75 347 347 28 ·--· 353 372 ..... ..... iss9 issi 1879 -- $100 1,000 100 100·&:c. 1,000 1,000 100 1,000 50 1,000 1,000 1885 1,000 1881 1,000 1886 1887 "ioo 100 &c. 1881 100 &c. 1881 100 &c. 1881 100 &c. 1881 100 &o. 1,000 1881 1,000 1886 1,000 1886 1879 100 &c. 1881 1881 issa isso issi is65 1874 1878 1878 1:000 1,000 1,000 100 $4,000,000 800,000 750,000 400,000 1,600,000 1,700,000 750,000 3,193,000 1,000,000 1,000,000 800,000 1,323,000 4,000,000 2,048,875 494,860 6,000,000 600,000 1,900,000 1,100,000 950,000 1,775,000 1,310,000 2,451,000 2,424,000 430,400 5,000,000 6,000,000 3,000,000 1,000,000 388,500 3 5 212 5 7 ~ g. 3 5 3 5 6 g. 6 g. g. 41 ..6. M.&N. J. & J. J. & J. F. & A.. J. & D. M. & 8. A.. & o. A.. & o. M.&N. J. & J. A.. & 0. M.&N. J. & J. J. & J. •·-·- .......... M:·J-t:· 8. N.Y.,FourthNat.Bank. M.& S. M.& 8. M. & s. M.& 8. M.& 8. M.&N. M.& N. J. & J. (1) J ...&-·J. 7 M.& 8. 7 6 g. A.. & o. A.. & 0. 7 6 6 4-5 5 5 5 5 g. 6 N. Y., Del. L. & W. RR. N. Y., Security &Tr. Co. N. Y.,Del.Lack.&West. do do N. Y., Mercantile Tr. Co. do do N. Y., Mere. Tr. &Balt. Bost., 53 Devonshire St. Boston, Fitchburg RR. · Bellows Falls. Boston, S. Dep. & Tr.Co. N. Y., Central Trust Co. N. Y:, Farm. L. &Tr. Co. N. Y., Central Trust Co. do do do do do do do do N. Y. ,4thNational Bank. N. Y., Central Trust Co. do do Phila. Tr. & SafeDepos. Nov. 1, 1890 July 1, 1939 Jan., 1892 Aug. 1, 1911 June 15, 1906 Se~t. 1, 1921 Oc. 1, 1921 Oct. 8, 1891 May 1, 1903 Jan. 1, 1892 Oct. 1, 1910 Nov. 1, 1915 Jan. 1, 1920 Jan. 1, 1916 Jan. 1, 1920 1; Mcii: 'i9o6 Mch. 1, 1911 Mch. 1, 1916 Mch. 1, 1921 Mch. 1, 1926 Mch. 1, 1931 May 1, 1936 May 1, 1936 July 1, 1913 (1) N. Y., Bk.of Commerce. July 1, 1895 do do Sept. 1, 1895 do do Oct. 1, rnoe do do Oct. 1, 1903 -United Ne,v .Tersey Railroad & Canal Co.-(See map Penn,- pons due and unpaid to .June 30, 1891, 1st mortgage, $775,320; 3d mort . Controls an important system of roads in Northern iage, $172,581. Nov., 1891, final payment of $5,000 was made on :sylvania .R . .R.) New Jersey, having a line from New York to Philadelphia, another coupon of this mortgage due .July 1, 1888. fiom Perth Amboy to Camden, opposite Philadelphia, and branches to Long Branch, Berkeley, etc., N . .J., and to Manunka Chunk, Pa. Total mileage 447 miles. T?-e principal lines owned directly are from Jersey City to Trenton, 56 miles, and from Camden to South .Amboy, 61 miles; 9 branches 29 miles; total (owned directly) 146 miles. Also owns the Delaware & Raritan Canal, 66 miles. Among the lines leased are the Philadelphia & Trenton and the Belvidere Delaware-which see. Leased in May, 1871, to the P ennsylvania Railroad for 999 years, at rental of 10 per cent on the stock, besides interest on bonds. Penn:sylvania Railroad owns $1,350,000 stock. The general mortgage of April 20, 1871, is for $20,000,000 (trustee, JFidelity Insurance Trust & Safe D ep. Co. of Philadelphia), and secures ,equally all the bonds in the table, though issued at different dates. The '6 i;>er cent bonds due in 1894 were plain bonds merely until secured by ithis indenture. In 1890 gross earnings were $18,938,897; net, including income from mvestments, $5,134,976, against $5,040,798 in 1889. Net loss: in 1881, :$302,864; in 1882, $568,759; in 1883, $635,914; in 1884, $593,536; in 1885, $159,496; in 1886, $179,016; in 1887, $227,991; in 1888, $160,501. Net profit in 1889 $138,712; in 1890, $396,885. Sinking funds December 31, 1890, held securities of par value of $4,002,000. Utica Chenango & Susquehanna Valley,-Owns from Utica, N. Y., to Greene, N. Y., 75 miles; branch to Richfield Springs, 22 miles; ·t otal, 97 miles. Road opened October, 1872. Leased to Delaware Lackawanna & Western at 6 per cent on stock. Has no bonded debt. Utica Clinton & Blnghainton.-Owns from Utica, N. Y., to 'Randallville, N. Y., 31 miles. Leased during continuance of charter .and renewals thereof to Delaware & Hudson Canal Company, which pays rental cf $61,500 per annum. Operated by the New York Ontario .& Western. Ti.le street lines owned by the company are leased to Utica :Belt Line Street Railroad Company for $15,000 per annum. Gross -earnings of thls road, and Rome & Clinton 13 miles (reported together by New York Ontario & Western), in 1889-90, were $236,689; net, "$62,647; loss to lessee, $12,353. Capital stock, $849,285 (par $100), of -which city of Utica holds $200,000, with interest guaranteed 5 per cent. Valley (N. Y.) Rallroad.-Owns from Binghamton, N. Y., to .-State Line of Pennsylvania, 12 miles. Opened October, 1871. Leased to Delaware Lackawanna & Western at 5 per cent per annum on stock, >the lessee assuming the interest on bonds Valley (Ohlo).-Owns from Cleveland, 0., to Valley.Junction, 0.,75 miles. and 13 miles of small branches. Of the consohdated mortgage '$1,600,000 is held in trust to retire the first mortgage when due. This ·; mortgage is a first lien on the Cleveland terminal property. A. sinking :tund sufficient to retire whole issue at maturity begins September 1, 1891; no drawings. Capital, $1,261,973; par, $50. Control acquired m 1889 by the Baltimore & Ohio Railroad Compan:v.. Earnings in 1890, :$779,267; net, $262,436, against $192,329 in 'Rr89. V. 50, p.70.) Valley (Virginia) .-Owns from Harrisonbur~ to Lexington, Va., 62 ·miles. By this and connecting lines under Baltrmore & Ohio control, ,the distance from Lexington is 243 miles to Baltimore and 217 miles to Wasnington. The Baltimore & Ohio owns $1,020,000 stoc.lr and the -Oity of Baltimore $1,000,000 stock. Stock outstanding, $2,731,839 (par, $100). In years 1889-90 gross earningB were $126,299; net, $27,-~00; deficit under interest, $18,100, against $10,187 in 1888-89. Verinont & lliassachusetts.-Line of road, Fitchburg to Green·fl.eld, Mass., 56 miles; branch, 3 miles. The road is leased to the Fitchburg RR. for 999 years at 6 per cent on stock. The lessee to September ;30, 1889, had invested $1,491,435 in improvements for this road. Verinont Valley of 18'11.-0wns from Bellows Falls to Brattleboro, Vt., 24 miles; and by ownership of stock the Sullivan County RR. ·from Bellows Falls to Windsor, Vt., 26 miles; total, 50 miles. Controlled •.in the interest of the Connecticut River RR. The N. Y. N. H. & Hart. --owns $249,700 stock. The Sullivan County RR. stock of $500,000 is -deposited as additional security for the above mortgage bonds. Divi•dends since 1880 have been: In 1881, 412 per cent; in 1882, 4; from 1883 to Jan., 1892, both inclusive, at the rate of 6 per cent yearly In 1890 gross earnings, $192,629; net, $75,133, agst $80,191 in 1889. Vicksburg Shreveport & Pacl:tic.-(See Map Cincinnati Ntw -Orleans cf: Texas Paciftc.)-From Delta, La., on Mississippi River, to S hreveport, 170 miles, and extension to Texas State Lme, 18 miles <.'.(the latter leased to Texa;s & Pacific); total, 188 miles. The old Vicksburg Shreveport & Pacific Road was sold in foreclosure December 1, ·1979, and reorganized under present title. The stock is $1,601,500 (i;>ar ,. 100), of which the Alabama New Orleans & Texas Pacific .Junction Railroad Company holds a majority, together with $3,692,000 of the 1st <mortgage and $965,500 3d mortgage bonds. The 3d mortgage bonds carry 4 per cent till 1894, and thereafter 5 per cent. Net proceeds of land sales go to payment of interest on these onds if necessary, otherwise to sinkin"' fund; no bonds drawn (see V. -43, p. 104). Lands unsold .June 30, 189i, were223,228 acres. Trustees ,or prior lien mortgage and of 3d mortgage, Cent. Trust Co.; of 1st mort., Farmers' Loan & Trust Co. Car trusts Aug. 30, 1891, $83,727. Cou- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis From July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $298,967, against $283,075 in 1890; net, $94,000, ~sainst$67,903. · Report for year ending June 30, 1891, was in v. 53, p. 639. Gross receipts were $636,682; net, $157,264; interest on bonds, $394,789; interest on car trusts, $7,017; deficit for year, $401,806. In 1889-90 gross, $639,753; net, $122,994-; deficit under interest, $270,974. (V. 49, p. 299 ; v. 51, p. 303; v. 53, p. 639.) Virginia Midland.-( See Map of .Richmond~ West Point Te1·minal.) -LINE m· ROAD.-From Alexandria to Gordonsville, 88 miles; Warrenton Branch, 9 miles; Charlottesville to Lynchburg, 60 miles; Lynchburg to Danville, 66 miles; Pittsville Branch, 9 miles; Manassas .Juno• tion to Harrisonburg, 114 miles (of which 51 miles leased to Baltimore & Ohio); small branches, 9 miles; total owned, 348 miles. Leases: Char• lottesville & R~E}~nan Railroad, Orange Court House to Charlottesville, 28 miles; Fra · & Pittsylvania Railroad (3 feet), Pittsville to Rocky Mountain, 30 miles; total leased, 58 miles. Total owned and leased, 406 miles, of which 51 miles, Strasburg .Junction to Harrisonburg, is leased to the Baltimore & Ohio (in perpetuity at B.& O.'s option for $89,250 yearly), and 9 miles to Chesa. & 0., leaving 346 miles operated. The Washington City Virginia Midland & Great Southern was sold December 20, 1880, and reor~anized as Virginia Midland. In April, 1886, a lease of this road was made to the Richmond & Dan• ville on the basis of a payment of the fixed charges and the payment by the lessee of any balance of net earnings to the Virginia Midland Company. The lessee may if it chooses advance the money for interest on the six series of prior bonds, if earnings are insufficient, but guarantees positively the general mortgage interest. The Richmond & West Point Terminal Company owns $4,524,233 stock, most of which is deposited as security for its collateral trust deeds . The fourth series bonds will bear 4 per cent till March 1, 1901, and 5 thereafter. Of the $12,500,000 general mortgage bonds of 18861 $7,635,000 were held to retire the serial bonds, also enough for the mcomes. See abstract of mortga"'e, V. 47, p. 23. Part of the general mortgage bonds bear the endorsed' ir'}arantee in gold as to principal and interest of the Richmond & DanVIlle. The unstamped bonds are currency bonds, but ma.y be stamped payable in gold on a payment of 212 per cent. From .July 1 to Sept. 30, 1891 (3 mos.).tgross earnings were $619,526, against $627,480 in 1890; net, $247,28i$, against $255,254. -:Earnings for the years ending .June 30 were: Sur. over Miles. Gross receipts. Netreceipts. charges. 1889-90... .. ... ..•..••• 355 $2,274',383 $719,219 $21,951 1890-91...... . . . . . . . . • . 2,395,929 906,548 163,029 -(V. 53, p. 843.) . Virginia & Truckee.-Reno, Nev. to Virginia, Nev., 52 miles, Bonds all paid off. Gross earnings in·l888 were $771,544; n et, $366,721 ; dividends, $265,000; interest and bond payments, $114,500. In year ending .June 30, 1890, gross, $629,507; net, $256,431 ; interest paid, $1,175; dividends, $225,000; bonds redeemed, $101,000; deficit $73,015. D. O. Mills, President. Wa"bash Railroad.-( See Map.)-Owns and operates an extended system of roads, which may easily be seen on the accompanying map, as follows, viz.: OWNED EAST OF MISSISSIPPI RIVER. OWNED WEST OF MISSISSIPPI RIVER. Miles. Miles. Toledo, 0., to East Hannibal, St. Louis to near Kansas City. 275 Camp Pt. and Elvaston,_I]l. 536 St. L. Levee to Ferguson, Mo. 11 Decatur, Ill., to E. St. Loms.. 110 Moberly to Ottumwa, Mo.... 131 June. near Chicago to EffingSalisbury to Glasgow, Mo.... 15 ham and Altamont, Ill...... 216 LEASED WEST OF MISSISSIPPI RIVER. Streator to Fairbury.......... 31 Brunswick to Pattonsb'g,Mo. 80 Edwardsville to EdwardsCentralia to ·Columbia, Mo... 21 ville Crossing, Ill.. ......... 8 Delrey,near Detroit, to Butler 110 Owned & leased W. of Miss. 533 Total. .........•.........•.. 1,012 Tot. cov'r'd by 1st & deb. M . 1,544 TRACKAGE, ETC. LEASED EAST OF MISSISSIPPI RIVER. Laketon .June. to Chicago.... 123 Eel River RR., Butler to Lo8 short pcs. into Quincy, Degansport, Ind.. . . . . . . . . • . . . . . 94 troit,&c.,(18 m. being own'd) 92 Operat'dfor Purchasing Com. 70 The following is a statement of Maysv. to Pittsfield (leased) .. : 6 lines owned and leased west of the Mississippi and of trackage, &c. Grand total :operated .... .. . 1,930 HISTORY, ORGANIZATION, &c.-The Wabash St. Louis & Pacific, which was a consolidation in 1879 of the Wabash Railway and the St. Louis Kansas City & Northern, was sold in foreclosure in 1889, this company being organized on .July 12, 1889. For outline of reorganization plan see INVESTORS' SUPPLEMENT up to .January, 1889. The following are directors: .James F . .Joy, Ossian D. Ashley, Thomaa H. Hubbard, Edgar T. Welles, Sidney Dillon, .James F. Howe, Charle• M. Hays, George J. Gould, 8. C. Reynolds, John T. Terry, Russell Sage, Henry K. McHarg, Cyrus .J. Lawrence. Officers: Ossian D. Ashley; President; Edgar T. Welles, Vice-President; James F. How, Vice-President; C. M. Hays, General Mana~er, and J. C. Otteson, Secretary. t- o, 111111 w ~ 0 ~ ~<q r/1 ~ 0 0 E-l 00 ~ ~ ,--, G'l &5 .-4 ~~ 1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAP OF THE WABASH RAILROAD AND CONNECTIONS. INVESTORS' SUPPLEMENT. 138 [Voi.. LlV. Sub11crlber11 wUI confer a great favor by giving Immediate notice of any error discovered In the11e Table11. Bonds-Prino INTEREST OR DIVIDENDS. RAILROADS. pal,Wh nDue Miles Date Size, or Amount Par Rate per When Where Payable, and by Stocks-Las1i of For explanation of column headings, &c., see notes of Dividend. Road. Bonds Value. Outstanding Cent. Payable Whom. on first page of tables. --- Wabask-( Ooncluded )Wabash 1st M., g., s. f., not dr. ($34,000,000) .... c 2d mortgage, gold .............................. c Deb. mort., inc., non-cum., series A, red. at par. Do. do. series B, red. at par ................... LEASED LINE BONDSSt. Louis Council Bluffs & Omaha 1st mortgage .. Boone Co. & Booneville 1st mor~age, int. guar .. Brunswick & Chillicothe 1st mo gage, int. guar. Walkill Valley-lat mortgage ....................... 2d mortgage ........................................ Ware Rivcr-Stock,7~.c.rentalguar._?,99yrs.B.&Al. Warren (N. J.)-Stoc ,7 p. c. perp., .,:.iar. D. L.& W 2d mortgage, now 1st ...................... . ...... . 1st consol. mortgage ............................... Wash. 1 ity&Pt.Lookout-lstM.bonds,g.,Alex.br.s.f West Jersey-Stock, £122,250 is 6 c. "sa;cial" .. 1st M., cum.sink. f .$12,500 year y, not awn.c* 1st consolidated mo:!gage ....................... c* · Consolidatedmortga§e........................... . r Ocean City RR. and alem RR. bonds .......... c* Swedesboro Railroad bonds ....................... Woodstown & Swedesboro 1st mortgage ....... c" West Jersey & .Atlantic-Stock ........................ lstM. Newfield to Atlan. C., 33 m., dr'n at 100.c&r Pleasantville & Ocean City 1st mortgage ..... c&r WestSll;<>r~~stmortgage,~uar. byN.Y.C.&Hud.c&r West Virginia Central & Pittsburg-Stock ........... 1st mortgage, gold ($25,000 per mile) ........... c* West Virginia & .Pitts.-lst M., s. f. not drawn, g ... c· l 1,544 1,012 1,638 1,638 42 22 38 .... ""49 18 18 18 12 ·ss 63 128 'i'i 11 0 33 7 448 fog .... 1889 1889 1889 1889 $1,000 $22,581,000 1,000 14,000,000 1,000 3,500,000 1,000 26,500,000 1,000 1878 1,000 1873 1878 100 &e. . ... 1877 1877 i855 1870 1875 1873 ·ioo 50 100 1:000 50 ..... 1866 500 &c. 1869 500 &c. 1879 500 &c. 1,000 .... . 1868 100 &c. 1,000 1882 50 1,000 1880 1880 100 &c. 1885 1,000&c 100 issi 1,000 1,000 1890 ---- The Boone Co. & Booneville RR. is leased till May, 1973. The Brunswick & Chillicothe was leased to St. Louis Kansas City & Northern for 999 yea.rs. Its bonds bear 6 per cent interest till August 1, 1900, then 8 per cent till maturity. On April 1, 1887, the Eel River RR. was leased for 99 years (See that company). Entrance to Chicago is secured over the C!hica.go & Western Indiana, of whose stock this company owns $1,000,000. Stockholders voted on November 25, 1890, to construct or acquire a road from Montpelier, Ind., to a junction with the Chicago & Western Indiana at Hammond, near Chicago, and to issue $3,500,000 bonds thereon. In September, 1891, it was reported that this plan would be speedily carried out. See V. 53, p. 224, 257. STOCKS ..A.ND BONDS.-The capital stock is $52,000,000, of which $24,000,000 is preferred, having a preference of 7 per cent per annum non-cumulative, and $28,000,000 is common; par both, $100. Abstracts of the mortgages were published in the CHRONICLE, V. 49, pp. 270-273. The first mortgage covers lines both east and west of the Mississippi, and enough bonds are retained to retire the prior liens on roads west; but the second mortgage covers only lines east of the river, as above, 1,012 miles. Of the _debenture mortgage bonds $3,500,000 are series A (preferred in respect to interest payments only) and $26,500,000 11eries B. The series ·'A" bonds received 3 per cent interest in .January, 1890, and 3 in July; in January, 1891, nil; in July, 6; in January, 1892, 3 per cent. Obligations on leased lines other than on the bonds in tne table above are: Eel River Railroad Company-Annual rental charge, $60,000 per annum, April 1, 1887, to April 1, 1892; $75,000 per annum, April 1, 1892, to April 1, 1895; $90,000 per annum, April 1, 1895, and thereafter. Also $500 per annum for organization expenses. Louisiana & Pike County Railroad-Annual rental charge, $800. Price of new common stock-In 1890, 818-Wl5; in 1891, 85s-W16; in 1892, to Jan. 22, inclusive, 12~@153a. Price of new preferred-In 1890, 15@3112; in 1891, 167s@3412; in 1892, to Jan. 22, melusive, 2812@3312. OPERATIONS, EARNINGS, &c.-The annual interestcharge on the first and second mortgages will be about $2,615,000, and the debentures call for $1,800,000. per year when earned (but not cumulative), making the charges ahead of preferred stock about $4,415,000. In August, 1891, it was reported from London that the directors had engaged to distribute regularly the surplus net earnings-after payment of fixed charges-among the B debenture bondholders, the basis of calculating the division of profits to be the officially published net profits as indicated in each monthly return. The demand for bettertnents, it is said, is to be satisfied by appropriations either from working expenses or from capital account. (V. 53, p. 224.) From .July 1, 1891, to Nov. 30, 1891 (5 months), gross earnings were $6,559,074, against $5,859,185 in 1890; net earnings, $1,821,969, against $1,736,899. . -p'iscal year ends June 30. Report for 1890-91 was published at length in CHRONICLE, v. 53, p. 367, 369. Bee editorial v. 53, p. 340. OPERATIONS AND FISCAL RESULTS. 1888-89. 1889-90. 1890-91. .ATerage mileage ...... ...... ... . . . 1,922 1,922 15 14 14 ;t:~e~:~a~:~:!~e~1:fi8.; 'Freight (tons) ca.r'd onemile.1,094,717,509 1,430,197,3321,209,179,055 -'"late per ton per mile . . . • . . . 0·756 cts. 0·647 ets. . 0·733 cts Recti.pts,Groas earnings . • • • . • . • • • • • . . $12,590,482 $13,352,872 $13,028,288 ~!rng·~~ g',i~t·:r: }.1it-~~ Expenses- Maintenance of way........ Motive power_•-····.......... ·Maintenance of ca.rs......... Transportation and general. $2,007,948 2,607,790 989,584 ·4,208,914. $1,729,231 2,651,758 1,175,185 4,117,047 $1,703,289 2,611,587 901,121 4,349,225 Total..................... $9,814,236 $9,673,221 Net earnings................. $2,776,246 $3,679,651 Per ct. oper. exp. to earn'gs. 77·95 72·44 INCOME ACCOUNT. 1889-90. Net earnings ................................ . $3,679,651 Received from rent of tracks, &c .......... . 272,434 $9,565,223 $3,463,065 73·40 ------ 1890-91. $3,463,065 372,740 -----------$3,952,085 $3,835,805 $396,491 $417,700 'r:1xe:a~~~-·····-······· .................... . Track, br'ge rent., traffic ass'n expen's., &c. 442,590 504,976 Total. ............................... ····- N, Y. & Pac. C11,r Trust interest, one month tnt'st on bonds and rentals of leased lines. Dividends on pref.deb,mture mort. bonds .. 12,392 2,652,820 210,000 ------ .......... 2,666,838 210,000 Total..................................... $3,714,293 $3,799,514 Net surplus.............................. .. .. $237,792 $36,291 =--(V. 51, p. 302,348,381,385, 49,l, 571,680,748,830,877; V. 5~,p. 82, 499; V. 53, p. 22,224,257, 340, 367, 368, 369,437; V. 53, p. 922 969.) Wallklll Valley.-Owns from Montgomery to Kingston, N. Y., 33 miles. Stock, $330,000 (par $100). In year ending .Tune 30, 1891 gross earnings were $148,313; net income, $37,874; interest and other charges, $32,671 ; surplus, ~5,203, Ashbel Green, President. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 626,000 100,000 304,500 250,000 330,000 750,000 1,800,000 750,000 600,000 540,000 2,134,850 1,000,000 1,000,000 750,000 200,000 200,000 90,000 904,850 190,000 80,000 50,000,000 5,500.000 2,800,000 3,000,000 5 g. M.&N. N. Y., Central Trust Co. do do F. & A. J. & J. N. Y., Company's Office. . ............. 6 J. & J. gg. J. & J. N. Y., Bank of Com'erce do do M.&N. F. & A. Boston.Bank Redemp'n J. & J. N.Y.,Of.,5VanderbiltAv do do J. & J. J. & J. Boston, Bost. & Alb.RR. A. & 0. N. Y., Del.L. & W. RR. do do A. & 0. do do M.& 8. J. & D. Baltimore, B. & 0. RR. M. & 8 . Philad~f-, 233 Bcitth St. J. & J. do A. & 0. do 7 do M.&N. do 6 do 4&5 F. & A . do do do 7 J. & D. do M.&N. do 6 2 M. & 8. Phila., Of., 233 8. 4th St. M.& 8. Phila., Fidelity I. T. Co. 6 6 J. & J. Phila.., Penn. RR. Office. 4, J. & J. N. Y., Gr'd Cent. Diot. 1 Baltimore, Co.'s O ce. 6 g. J." .&.. J. N. Y., J. H. Da.vis,&Balt. 5 g. A. & 0 . N. Y., Fa.rm. L. & Tr. Co. 6 7 6to8 7 7 312 312 7 7 6 g. 312 6 May Feb. July July 1, 1, 1, 1, 1939 1939 1939 1939 July 1, 1908 Ma.y 1, 1903 Aug. 1, 1903 Aug. 1, 1917 Aug. 1, 1917 Jan. 3, 1892 Oct., 1891 Oct. 15, 1900 Mch. 1, 1905 June 1, 1913 Sept. 15, 1891 Jan., 1896 Oct., 1899 Nov. 1, 1909 1912 & 1925 Dec., 1898 May 1, 1912 Sept. 1'5, 1890 1, 1910 J y 1, 1910 Jan. 1, 2361 Mch. 20, 1891 July 1, 1911 Apr. 1, 1990 s~r· Ware Klver.-Pa.lmer, Mass., to Winchendon, Mass., 4c9 miles. It is leased for 999 years to the Boston & Albany Railroad at a rental of 7 per cent per annum. J. A. Rumrill, President, Springfield, Mass. Warren_, N • .T .-Line of road, New Hampton Junction to Dela.ware Bridge, N. J., 1814 miles. The road is leased in perpetuity to Dela.ware Lackawanna. & Western at 7 per cent on stock and bonds. West .Tersey .-Ma.in line and branches-Camden to Cape May, Bridgeton, Riddleton, Sea Isle, Ocean City, &c., 182 miles; West .Terse:, & Atlantic Railroad, 40 miles; total, 222 miles operated. Sinking fund of $12,500 yearly for bonds of 1896 is im•ORt.ed in company's bonds and bonds of the Pennsylv.ania system, and $709,100 were so h~ld January 1, 1891. Dividends since 1880-In 1881, 4c; from 1882 to 1884, in•ilnsive, 3 and 3 scrip; from 1885 to 1887, inclusive, 6; in 1888, 6~; in 1889, 7; in 1890, 7; in 1~91, March, 312 in scrip; September, 312. The scrip issued as dividend in March, 1891, does not bear interest,. but is redeemable in ea.sh and is convertible into stock at par. From January 1 to Nov. 30, 1891 (11 months). ~oss earnings were $1,365,665, against $1,331,382 in 1890; net, $395;480, against $429,871. The annual report for 1890 was published m the CHRONICLE, V. 52, p. 533. Income account has been as follows, the earnings including those or leased lines : INCOME ACCOURT, 1887. 1888. 1889. 1890. $ Gross earnings ......... 1,469,215 Net earnings............ 4c92,958 Other receipts.......... 20,857 $ 1,556,033 501,902 27,348 Total net income... 513,815 529,250 Deduct-Interest, rentals, &c... 312,149 289,407 Dividends .............. (6)89,142 (612)138,082 $ $ 1,526,1~9 1,613,745 4,27,099 4,91,819 27,973 31,098 -------4,55,072 522,917 2(8,933 251,237 (7)148,217 (7)U8,217 Balance, surplus... 112,524 101,761 57,922 1 'L3,463 --(V. 46, p. 191, 509; V. 48, p. 526; V. 50, p. 350; V. 52, p. 533.) West .Tersey & A.tlantlc.-0wns Newfield, N. J., to Atla.nt:c City N. J., 33 miles; Pleasantville & Ocean City RR., 7 miles; total, 40 miles Opened June 17, 1880, and operated by West .Jersey RR. on a Joint traffic agreement and 25 per cent of gross receipts on West Jersey from traffic of this road to be applied to any deficit m interest and then as smking fund for bonds purchasable at 105, or drawn at lOOiif over 105. In 1888 net earnings were $82,787; in 1889, $43,573. n 1890 net earnings were $43,043; interest, etc., $18,914; dividends, $40,342. West Shore.-(See Map New York Central cl Hudson River.)-Line of road from Weehawken, N . .J., opposite New York City, to Buff'a.lo, N. Y., with branches to Albany City and Roche11ter City, about 448 miles in all. This company was organized in December, 188~ as successor to the New York West Shore & Buffalo, sold 1n !oreclosure. Leased in 1885 for 475 years to the New York Central & Hudson Company and all earnings, &c., included in that company's report. The $10,000,000 of stock is owned by the New York Central Company in consideration of that company's guarantee of the principal and interest of the $50,000,000 of new bonds. The mort~age is made to the Union ·rrust Company as trustee, and covers the line of road, Woeeha.wken to Buffalo, with branches, 448 miles in all, and also the terminals at Weehawken by ownership of all the stock and bonds of the Terminal Company. The guarantee of the New York Central & Hudson is absolute as to interest and principal and is endorsed on each bond. Bee abstract ot mortgage in V. 42, p. 176. West Vlrrlnla Central & Pltt11burg.-A coal and railroad company in West Virginia in the upper Potomac region-the Elk Garden Coal Field. Owns road in operation from junction near Piedmont, West Virginia, to Beverly, Randolph County, West Virginia, 90 miles, and Elkins to Bealington on B. & 0. Railroad, 18 miles; branches to Mineville, Elk Garden, &c., 17 miles; total owned, 125 miles. Leases Piedmont & Cumberland Railroad, Piedmont to Cumberland, 30 miles; total operated, 155 miles. Owns 32,244 acres of coal and lumber lands covered by the first mo gage and has mineral rights on 5,407 acres more. In January, 1891, stockholders voted to authorize the issue of $50P,OOO stock held in the treasury and !fH,100,000 bonds for the extension of the road. V. 52, p. 204. An rmportant traffic agreement was made with the Baltimore & Ohio in 1891. (See V. 52, p. 796.) Dividends-In 1889, 1 per cent; in 1890, March, 1; 1891, March, 1. From January 1 to Nov. 30, 1891 (11 months1, gross earnings were $1,011,367, against $895,693 in 1890; net, $338,264, against $301,473. In 1890 net profits (coal and railroad) were $266,320; surplus over fixed charges, $101,325. In 1889 total net revenue, $214,584; interest pain ,S122,414; surplus, $92,170. H. G. Davis, Baltimore, President-(V. 50. p. 873; V. 52, p. 126,204, 796.) We111t Vlro-lnia & Pittsburg.-(See Map Baltimore & Ohio.Jin operation ftom Clarksburg, West Va., on the Baltimore & Ohio, via we~ton and Buchanon, to Sutton, 70 miles, with branch from Buchanon to Newton, 25 mile8; extensions under construction. Leased for 999 years for 3712 per cent of gross earnings to the Balt. & Ohio, which guarantees any interest on the bonds not met by rental. See V. 51, p. 718. In 1905 and at end of every ten years thereafter RAILROAD JilUA.RY, 1892.] STOCKS AND BONDS. 139 Subscribers will confer a great favor by giving lnunedlate notice of any error dlscoTered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. West'n ( Ala.J-Con. M.,g.,~.by C.Ga. and Ga.RR.c* Western Maryland-lat & dgref. M's (1st M. end'd) 3d mor;f a~e, endorsed by ity of Baltimore.... _. -4th mo ., m return for City of Baltimore stock .. ~th mortgage, held by City of Baltimore, sink' g f'd ~tyloan ...................... . ..................... Balt. &Harrisb. RR.; priormorts. seeremarkis .... Mo~we (for $690,000) ......... . ............. c* Lst . est.Ext.,gu.byindors. ($16,000p.m).c* alt. & Cumb. Val., lat mort\ages (see remarks) sternN. Y. ~ Pennsylvania- tock ($30,000,000) Warren & Franklin lat mortgage ................. West. N. Y. & Penn. 1st M., ($10,000,000), ~old.c* 2d mortgage (1st on equipment, etc.), god ... c* 2d mortg1:1,ge, deb., inc., non-cum., red. at option Ill.come scrip, convert., redeemable at option . .. Non-convert. income scrip . ...................... West. No. Car.-lstcon. M., g., ($1,273,000 guar.) .c• 2d consolid~ted mortgage ($15,000 per mile) ..... Western Penns.11lvania-latmort., Blairs. to Butler.. lat mortlaie,-Pittsb. Br., Freeport to Allereny. Consol. . or $5,000,000, g., guar. by Pa. R .. c* Wheeling ~ Lake Erie--Common stock ... . . _. . ...... Preferred stock, 6!_er cent, not cumulative....... 1st mortgage, gol ............................... c* 1st M. Wheel., Div.,$ & £ (2d on 187 miles) .... c* Toledo Belt Railway lat mort~a e, §iold, grui.r .... Exten. and Impr. mort. for $1, 0 ,0 0, $ & £.c* 'Wilm. Colum.d!A.ug.-Stock,6p.c.,guar. il.&Wel. lat mortgage ..........................•...•..•.... c 3 W' INTEREST OR DIVIDENDS. Bonds-PrinciMiles Date Size, or Amount pal, When Due. of of Par Outstanding Rare per When Where Payable, and oy Stocks-Last Road. Bonds Value. Cent. Payable Whom. Dividend. f-2g. A. & 0. N. Y. Security & Tr. Co. Oct. 1, 1918 138 1888 $1,000 $1,543,000 222,000 90 '58-'68 500 &c. J. & J. 1890 & 1895 875,000 90 1870 500 &c. 6 J. & J. Balt., N. Mechanics' Bk. Jan., 1900 do do . ... 1,000,000 J. & J. Jan. 1, 1902 90 1872 6 .... I 1,704,000 do do Jan. 1, 1927 90 1887 314 J. & J. 684,000 4 J. & J. July 1, 1925 do do .... .... '72-;79 207,000 5&6 Various Baltimore, Co.'s Office. 1892, '95 & '99 ·:fa 1886 1:000 483,000 5 g. M.& N. do do Nov. 1, 1936 15 1888 1,000 240.000 5 g. M.&N. do do May 1, 1938 July,1929&'31 34 '79-'81 351;300 J. & J. do do 6 "ioo 19,928,000 ··1· 670 F."·&-·A. N. Y., Office, 35 Wall St. Feb:· ·i896 800,000 50 isi;5 500 &c. 1,000 8,950,000 5 g. J. & J. N. Y., Bk. of New York. Jan. 1, 1937 630 1887 1,000 19,984,000 3g.or5sc. A. & O. Paid 212 scrip Afr., '91. Oct. 1, 1927 630 1887 None pai . .... 1,058,000 A. & o. After 20 years Var. 5 None paid. Var. 2,509,413 After 20 yea.rs A. & O. 5 390,367 1907 309 iss4 1:000 3,800,000 ..6.g. J. ..&.. J. N. Y., 4th.Nat."Bank. July 1, 1914 1,000 4,110,000 A. & O. Oct., 1914 6 309 1884 790,000 A. & O. Philadeii>liia; Penn. RR. Apr. 1, 1893 60 1863 500 &c. 6 435,000 J. & J. do do Jan. 1, 1896 28 1865 100 &c. 6 4 g. J. & D. 1,000 3,000,000 do do June 1, 1928 98 1888 .... .... 100 6,000,000 '"i¼ Q:..::F. N. Y., Office, 40 Wall St. Feb:·i6·,·i892 100 4,500,000 5 g. A. & 0. N. Y., Central Trust Co. Oct. 1, 1926 isi i886 1,000 3,000,000 1,000 1,500,000 5 g. J. & J. N. Y., Cent.Tr.Co.& Lon. July 1, 1928 50 1888 1,000 500,000 5 g. M.& 8. N. Y., Central Trust Co. Part each year 6 1888 1,000 1,494,000 5 g. F. & A. do do Feb. 1, 1930 1889 Wilmington, N. C. 100 960,000 J. & J. Jan. 10,1892 3 J. & D. New York & Baltimore, Junel0,1910 .... isso 1,000 1,600,000 6 i·; ---· ---· ---- ---· ---· t-ental may be altered by arbitration. The first mortgage for $4,000,000 (trustee, Mercantile Trust Company of Baltimore) covers besides the road and its equipment 134,842 acres of timber. coal and mineral lands in West Virgirua. Bonds for $1,000,000 are reserved for branches, 1889-90. $ Gross earnings .......•............••..•......•.. 3,641,055 Operating expenses ..•.•.•........••............ 2,642,590 1890-91. $ 3,562,669 2,485,782 etc. There is a sinking fund, bui the bonds cannot be called. Stock) Net earnings................................. 998,465 1,076,887 $3,400,000; par, $100. President, J. N. Camden. (V. 51, p. 718.) 1,080,961 Western Alabama.-LINE OF Ro.AD-Selma to West Point, 138 Total net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • . . 999,62ff Inrerest, rentals and taxes ...................... 666,720 609,84.6_ miler,. Sold May 10, 1875, in foreclosure and purchased lointly by the Georgia Railroad and Central Railroad of Georgia. In 1890 gross earnings were $566,070; net, $200,841 ; surplus over :fixed charges, i,: .iii2 54. t~~~g~ « 9 •188 $99,420, against $22,647in 1888-89. Stock, $3,000,000 (par, $100), of -(V~ug8~~~ sii, Western North Carolina.-( Su Map of Richmond ti Weat Point -which Central of Georgia and Georgia Railroad each owns $1,500,000 TerminalJ-Owna from Salisbury, N. C., to Paint Rock, Tennessee 81'ate Western Maryland.-Lnra OF ROAD-Baltimore to Williamsport, line, 185 miles; Asheville to Murphy, N. C., 124 miles; total, 309 miles. lltl., 90 miles. Leases-Baltimore & Cumberland Valley Railroad and Completed to Murphy in 1891, where direct connection for Atlanta 18 extension, Edgemont to Shippensburg, Pa., 34 miles; Baltimore & Har- made. In May, 1886, leased to the Richmond & Danville for $134,980risburg Railroad, Emory Grove, Md., to Ortanna, Pa., 59 miles; western inrerest on bonds not held by Terminal Co. Stock, $4,000,000 common extension, Ortanna to Fairfield, 4 miles, and operated branches, 19 and $4,000,000 preferred. The 2d consolidated mortgage for $4,110,000 Jniles; total, 206 miles. The Baltimore & Harrisburg, which was leased and $1,325,000 of the lat consols are deposited to secure the 1887 collateral trust of Richmond & West Point Terminal, while $3,160,000 In November, 1886, for 99 years, is practically owned. The Baltimore & Cumberland Railroad and Railway are leased for in• common and $3,160,000 preferred stock are deposited under lts collattierest on $121,300 bonds, due July 1, 1929, and the Baltimore & Cum- eral trust of 1889. In May, 1890, $850,000 of first mortgage 7s were 'berland Railr~ad extension is leased till November 1, 1931, a.t $32,700 retired and the consol. bonds became a first lien. The Rieb. & Danv. per annum, (e:1ual to 6 per cent interest on $230,000 bonds, due July 1, RR. then guaranteed by endorsement $1,273,000 of the lat consols. From July 1 to September 30, 1891 (3 months), gross earnings were 1931), and 7 per cent on $270,000 stock. Concerning the projected lines, see annual report in V. 51, p. 875. $260,399, against $242,395 in 1890; net, $89,090, against $72,602. In year ending June 30, 1891, gross earnings were $1,013,043; net, ln January, 1891, the Potomac Valley RR. Co. filed a mortgage for -$2,000,000. Its road is under construction from Williamsport, Md., to $333,760; interest paid (on bonds not held by R. T.) and taxes, $3021 In 1889-90 gross earnings, $889,938; neli, 'Cherry Run, West Va.J and is int.ended as a connecting lin]J: between 060; balance, $31,700. ihe Western Marylana and the Baltimore & Ohio and Philadelphia & $233,952. On June 30, 1891, there was due other companies, $1,711,497. (V. Reading. See V. 52, p. 121. The common stock is $684,700; par, $50. Pref. stock, $324,000. 53,p. 843.) Western Pennsylvanla.-Owns from BoUTar to Butler, 71 The company has been largely aRitsted by the city of Baltimore, which owns $200,000 of its stock. The city prior to March 28, 1891, had miles, and Butler .function to Allegheny City, 27 miles; total 98 miles. Leased to Penn. RR. for 50 years from June 1, 1883, rental being the paid out by way of interest on the company's guaranteed loans and on its own bonds issued against the company's mortgages deposited net earnings. In 1898 rental $873,648; paid interest and 6 per cent dividend on $1,775,000 stock; surplus, $544,116. La.et dividend Octowith it as collateral, the sum, it is stated, of $2,801,222 in excess of amounts repaid by the company. The first mortgage, for $43,500, ber, 1891, 4 per cent. due in 1890, is overdue. Wkeellng & Lake Erle.-Owns Toledo, O., to Bowerston, O., Of the issue of $690,000 Baltimore & Harrisburg bonds, $207,000 are 174 miles, and branch to Huron, 0. 12 miles; Wheeling Division, held in trust to v.ay off prior mortgages, as follows: Bachman Valley Bowerston to Martin's Ferry, opposite Wheeling, 42 miles; Steubenville first 5s, due April 1, 1892, $45,000; Hanover Junction H. & G. first 6s, branch, 14 miles; Toledo Belt, 5 miles, and coal branches, 8 miles. due January 1, 1895, $42,000; Baltimore & Hanover first 6s, due Janu- Total, 255 miles. Will enter Wheeling by new Union Bridge to be comary 1, 1899, !f:120,000. pleted in 1891. In addition t-0 the bonds in the table the company is said to be responSold in foreclosure April 23, 1886, and reorganized in July, 1886 sible for $226,530 six percent funded coupon certificates, also for a Hil- with stock of $3,600,000 ($100 shares), which in March, 1888, was len Station 8 per cent loan of $200,000, and for Western Maryland Ter- made preferred 6 per cent non-cumulative. On April 15, 1891, minal 7s to the a.mount of $131,163. The floating debt on April 1, 1891, stockholders voted to increase the preferred stock from $3,600,000 to was $5221770 (consisting of notes and bank discounts), and the total $4,500,000. past-due mrerest paid by the city of Baltimore, $2,8011222. Total inDividends on preferred stock-From April, 1888, to February, 1891, debtedness, $9,947,086; fixed charges, $536,325. Sinkmg funds Octo• both inclusive, at the rate of 4 per cent per annum; in 1891, 3~; in ber 1, 1890, $208,602. 1892, February, 114. Fiscal year ends September 30. In 1890-91, gross earnings were The improvement and extension mortgage of 1889 for $1,900,000 (of $904,378 ; net, $339,209 ; betterments, $81,770; balance, $251,439; which $500,000 is reserved to retire tb.e Toledo Belt bonds) covers, fn 1889-90, gross, $812,055; net, $277,871; betterments, $65,684.- subject to prior liens, all the property of the company, aJld is a first lien -(V. 51, p. 21, 52, 8'75; V. 52, p. 863; V. 54, p. 78.) upon the extension to Bellaire and upon the Steubenville branch. From July 1 to Sept. 30, 1891 (3 months), gross earnings were $347, Western New- York & Pennsylvanla.-Owns Buffalo to Em • porium, Pa., 121 miles; Buffalo to Oil City, Pa., 136 miles; Oil City to 782, against $311,588 in 1890; net, $110,733, ~a.inst $131,676. Annual report for 1890-91 was in CHR~rsi~;O.. 83f _ 1. Olean, 116 miles; branches, 268 miles; total owned, 641 miles; leased, 890 9 6 miles ; total operated, 647 miles. $ $ $ This company was organized November 22, 1887, as successor to the Gross earnings........................ . 870,495 1,047,419 1,225,305 8uffalo New York & Philadelphia. (a consolidation of 1883), which 302,158 398,088 451,535 )ecame embarrassed in 1884 and was sold in foreclosure September 15, Net receipts ...•.•.....•........•...••. 150,066 187,500 290,541 1887. The plan of reorganization was in V. 242. First mortgage lli~a.~~lsa!!prer:·atooir ·o.> :: : : : 144,866 144,000 167,000 bonds are reserved to pay the Warren & Fra bonds at maturity. The second mortgage bonds are a second lien on the railroad and first Balance, surplus.................. 7,226 66,588 def. " on terminals.t coal and equipmenti subject to lease of terminals and -(V. 51, p. 344, 568, 910; V. 52, p. 204,428,762; V. 53, p. 835.) 5,007 equipment to nrst mortgage bondho ders if foreclosed." Till January, Wilmington Columbia & Augusta.-Owns from Wilmington 1898, they bear interest at the rate of 3 per cent, but till 1893 interest ma;v be paid wholly or partly in scrip as follows: 1 per cent cash, 4 N. C., to Columbia, S. C., 189 miles. Leases jointly with Northeastern scrip; l½cash, 3scrip; 2 cash, 2 scrip; 212cash, 1 scrip; or 5 percent if South Carolina Railroad, the Central Railroad of South Carolina, Lane paid an in scrip ; after 1898 the rate is 4 per cent cash and, if earned, 7 S. C., to Sumter, 8. C., 38 miles. Total operated, 227 miles. An exten per cent may be paid, but after 3 per cent bas been paid on second sion is projected from Fayetteville to Rowland, N. C., 41 miles. Sold m foreclosure O<;tober, 1879, and reorganized. Dividends of 6 mortgage bonds, the stock and seconds ·share alike. The scrip itisued for interest !Jears 5 per cent interest, non-cumulative, payable only if per cent yearly have been paid since 1881. In June, 1885, the road and property of this company were leased for earned, is secured by the coupons placed in trust therefor1_and is due 2u years from date, but redeemable at option. It is convertible into in- 99 years to the Wilmington & Weldon, the lessee to pay all interest and fixed charges and 6 per cent dividend on the stock, payable semi-annu come debentures, also non-cumulative, and payable at option. Trustee of first mort~age, Mercantile Trust Company, of New York; of second ally in January and July. In year ending June 30, 1890, gross earnings mortgage, Fidelity Trust & Safe Deposit Company, of Philadeiphia. were$944,476; net, $296,335; balance to Wilmington & Weldon $154, 601. In 1890·91. gross, $979,442; net income, $347,278; balance to (See mortgage abstracts, CHRONICLE, V. 47, p. 109.) Second mortgage coupons due in 1888, 1889, 1890 and 1891 were W. & W., $193,678.-(V. 47, p. 801; V. 52, p. 39; V. 53. p. 835.) paid in scrip. New equipment notes July 1, 1891, $1,098,477; bond Wilmington & Northern.-Owns from Wilmington, Del., to and mort~age on real estate, $353,904. Highs Junction, Pa., 71 miles; branches, 17 miles; total owned 88 In addition to the stock outstanding there is $10,269,556 in the com- miles; trackage, 4 miles; total operated, 92 miles. Organized January pany's treasury, $10,000,000 of which can be disposed of only b;v unan- 18, 1877, as successor to the Wilmington & Reading Railroad; sold in mous consent of stockholders present at a meeting duly advertised. foreclosure December 4, 1876. Of tne mortgage for $1,000,000, only Gross earnings July 1 to November 30, 1891 (5 months), $1,663,487, $500,000 can be issued on present mileage. Stock authorized, $1,500, .a.gainst $1,608,891; net $547,744, against $549,803. 000; outstanding, $1,275,050; par $50. Gross earnin~s m 1890 Fliieal year enwi June 30. The report for 1890-91 was in V. 53, p. 672. $439 191 · net, $77,944 · surplus over fixed charges, $52,944. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ·a22; ·v.-53: 22-1: iv: it•st~/3. !iJE; <i·i>: INVESTORS' SUPPLEMENT. 140 ~VOL. LIV. Subscribers ,vlll conf'er a great f'avor by giving lJDmediate notice of' any ·error dis,covered In these Tables. RAILROADS. For explanation of column headings, &c., see notes on first page of tables. Wilmington <l North.-lstM.,'20-40's ($1,000,000) r. Wilmington <l Weldon-Stock. __ . ___ .. __ ..... . ... . ... Certificates of indebtedness, non- cum., income ... Sinking fd. bds., g., provided for by gen'l mort.c* Gen'l mort. for $41000,000 ($12,000 per mile) .. c* Special Trust certificates........................... Winona & South W.-lst M., $18,500 p. m., f.old .. c* Wisconsin Oent. Co.-Chippewa Falls&Wes .lstM. Wisconsin & Minnesota 1st mortgage .. ....... .... Minn. St. Croix & Wisconsin, 1st mortgage ....... Terminal mortgage notes ........................ Improvement mortgage notes ................... Wisconsin Central Co. 1st M. for$12,000,000 ,g.c* In.come M., n.on.-cum., gold, for $9,000,000 .. . c* Central Car Co. Equipm't, leases and contracts. Chicago Wis. & Minn. (leased)-lst mort., gold.c* Income bonds, 6 per cent, cumulative .......... Wis. Cent. R. R.-Consol. M.,lstseries,gold .... c&r Consol. M., 2d series, income(not cum.)gold.c* &r Wis. Cent. Co.& RR. Improv't s. f. bonds, gold .. c* · Worcester Nashua & Rochester- Stock ................ ~""' • ~ ~ t-- ,,; { Worcester & Noshua RR. bOnds ... c• do do do ... c* . a~~~.;; Wor.Nashua& Roch. RR. bonds ... c* ~~""' a3 do do . do ... c* I:=:~ ow Cl) Nash. & Roch.1st mort. bonds ..... c* Zanes. & Ohio River-1st M., gold, $25,000 p. m .. c* Cl) ..... g. Bonds-Pr1nci INTEREST OR DIVIDENDS. Miles D ate Size, or A.mount Rate per When Where Payable, and by pal,When Due. of of Par Stocks-Last Road. Bonds Value. Outstanding Cent. Payable Whom. Dividend. ---- ... .. ---- -- -· ..... 1887 .... .... ---· .... 1885 10 54 All. 1874 1880 1884 1885 1886 1887 1887 ..... ..... ---117 ...... ---.... .A.ll. 122 ..... 389 389 ...... 94 46 46 46 46 94 80 ---1888 --- $500 100 100 1,000 1,000 ---1,000 1,000 ..... ---------- 1,000 1,000 ---- 1,000 1885 1885 1879 500.&c. 1879 500 &c. 1891 1,000 ..... 100 1873 500 &c. 1875 1,000&c 1886 1,000 1890 1874 500.&c. 1886 100 &c, WllIDlngton & Weldon.-Owns Wilmington to Weldon, N. c. 162 miles; branches-Tarboro, 16 miles; Scotland N eek (Halifax to Kinston) 86 miles; Fayetteville (including Midland of N. C., 93 miles; Nashville, 19 miles; Clinton., 13 miles; othe:r, 3 miles; total owned, 392 miles. Operates Albemarle & Raleigh RR., Tarboro to Plymouth, 54 miles: Florence RR., 27 miles; Manchester & Augusta, 16 miles. Leases Wilmington Columbia & Augusta, 189 miles; Central South Carolina (jointly with Northeastern South Carolina RR., 38 miles; has $653,510 invested in the Norfo1k & Carolina RR., 110 miles; total of all, 826 miles. Leased November, 1872, to Wilmington Columbia & Augusta RR. for 99 years. The lessees made default December, 1877, and the lease was surrendered April 13, 1878. In June, 1885, this company leased for 99 years the Wilmington Columbia & Augusta (which see). .A.n increase of stock has been authorized to such an amount as may be necessary to complete certain extensions. (See V. 51, p. 348, 876.) There was June 30, 1891, $1,117,401 to the credit of the sinking fund. The certificates of indebtedness, $2,500,000, were distributed to stockholders in January, 1887, as a scrip dividend. There were also June 30 1890, $437,149 new equipment notes. Dividends since 1877-From1878 to 1881, inclusive, 3 per cent; in 1882 and 1883, 6; from 1884 to July, 1891, both inclusive, at rate of 8 per cent per annum. Fiscal year ends June 30. On. 362 miles, including Midland of North Carolina, earnings have been as follows, as per report in V. 53, p. 835. 1888-89. 1889-90. 1890-91. Gross earnings ..•............. $1,224,044 $1,350,853 $1,535,714 Expenses. .. ....... ..... . .... .. 691,172 681,137 855,679 Net earnings.............. $1>e2,872 $669,716 $680,035 In 1890-91 net earnings as al.love were $680,035 ; total net income, includin"' interest, dividends and Wilm. Col. & Aug. lease, $1,236,374 deduct interest on bonds, &c., and dividends, $200,000; surplus for year, $596,820.-(V. 50, p. 312; V. 51, p. 348,876; V. 52, p. 39; V• 53, p. 835.) Winona & Southwestern.-Road projected from Win.on.a :Minu. to Omaha, Neb., 375 miles; completed from Winona to beyond csa._,.e' 117 miles. The reorganization plan of the Green. Bay Win.on.a& Et. .Paul.provides for a traffic arrangement with this road. The Winona RR. Bridge over the Mississippi, completed in August, 1891, connects the.3e roads. See V .. 52, p. 974. Trustee of mortgage (for $6,950,000) Farmers' Loan & Trust Company. There is also outstanding scrip in !f 500 pieces; this scrip is convertible into first mortgage bonds, the bonds reserved to retire it being in.eluded in the amount of bonds in. the table above. Stock authorized, $20,000,000 ; outstanding, $1,000,000, par $100. (See V. 51, p. 172; V. 52, p. 974; V. 53, p. 326.) Wisconsin Central Companr. .-( SeeMap.J-Owns junction near st Paul to .A.bbottsford, Wis., 157 nnles; branch to Bessemer, 34 miles; other branches to Eau Claire, &c., 12 miles; spurs, 36 miles. Leases Chicago Wisconsin & Minnesota, Chicago to Schleisingerville, 112 miles, and spurs, 11 miles; trackage to Chicago, Minneapolis, &c., 25 miles; liotal 387 miles ; controls Wisconsin Central Railroad, owning from Men~sha to Ashland, 252 miles;. Stevens Poi~t to ~ortage City, 71 miles; branches · and spurs, 6~ miles i and lea~mg Milwau~ee & Lake Winnebago, Neenah to Schlesmgerville, 64 miles, spur 3 miles; Packwaukee to Mont~ll~, 8 miles; trackage, 1 l!'lile. Total Wisconsin. Central Railroad, 465 miles. Grand total, 852 miles. ORGANIZ4.TION, ETC,-Organ.ized June, 1887, to gather into a single corporation the Wisconsin Central Associated Lines. Nearly aD thesecurities of the Wisconsin Central Railroad are now owned, except $1 522 000 of its first series and a -few of its second series bonds. in 1889 a traffic con.tract was made with the Northern Pacific, and on April 1 1890 this was altered to a 99-year lease, under which the North. Pacitic 'agrees to pay a:µ operating expenses and ~axes,. the WisCOJ?.Sin co furmshing the equipment. .A.s rental the W1sconsm Co. receives 35 ·per cent of the ~oss _earnings of that pa!,"t of the road lying north of the junction with tne Milwaukee & Lake Wmnebago and 3712 per cent of the gross earning~ of the Milwaukee ~ Lake Winnebago and the Chicago Wisconsin & Minnesota. If operatmg expenses a re less than 59 per cent of groEB earnings, the saving is to be divided between. the lessor and the lessee. The lessee assumes all operating con.tracts, but the Wisconsin Company is to pay all rentals accruing under such cont1 acts, exoept the rentals due the Chicago & Northern Pacific and the Chicago Milwaukee & St. Paul, which rentals are to be met by the lessee. Once in :five or ten years an alteration in the percentages is permitted by arbitration -(See V. 51, p. 713.) The Chicago & N orth'n Paci.fie (which see) was leased on May 1, 1890, for 99 years, the lease.b eing ~hen assumed by the Northern Paci.fl. ~. TheChicago Wisconsm_& MiJ?.Ile~ota, from Bchle1smger-.:111e ~o vmcago & Northern Pacific termmals m Cook County, Ill., 122 miles, 1s leased m er etuity. Rental is 3712 per cent of gross earnings, less its propor• f;.0 of terminal charges ; but surplus rental over $350,000 yearly is aivided equally with lessee. The Milwaukee & Lake Winneba~o Railroad, from Neenah to Schleiaingerville is leased to the Wisconslil. Central Railroad for 99 years; the rental is 3712 per cent of gross earnings up to $175,000 per year, a!l surplus to go equally to lessor and lessee. . s ·i ·uc.KI:! AND BONDs.:---The preferred stock (6 p er cent cumulative) f3,000,000; common stock, $12,000,000. The first mortgage bo.ads J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $500,000 3,000,000 2,500,000 936,000 2,954,000 380,000 1,850,000 150,000 810,000 180,000 400,000 215,000 11,035,311 7,527,166 (1) 2,860,000 1,040,000 1,522,000 13,247 3,000,000 3,099,800 250,000 385,000 150,000 80,000 564,000 2,000,000 5 4 7 & D. Co.'s Office, Wilm.,.Del. J , & J. Wilm., N.C., Co.'s Office. A.. & o. do do g. J . & J. N.Y.,Balt. and Wilming, J. & J. do do M. &N. 6 Wilmington., N .. C.. 6 g. A.. & o. N. Y., J. Walker & Sons. M.& N. Boston., 50 State St. 7 A.. & o. 7 do 6 M.& N . · do F. & A.. 8 do M. & S. · do 8 5 g. J. & J. N.Y.,36 Wall St .& Lon.d. 5 g. A.. & 0. No coupons paid. 9 s. New York,·s,fwall St. 6 to 6 ..&.. 5 g. J. J. N.Y.,36Wali~&-Boston . 7 g. J. & J. ................ 5 g. M.& N . New York. J. & J. 3 Worcester, Office. 5 A.. & 0. :Boston., Globe Nat. Bk. F. & A.. 5 do do 4 J. & J .. do do 4 J. & J. do d<' 5 A.. & o. do do 6 g. F. & A.. Last paid Feb. 1, 1889. J i m:·&:· 1907-1927 July 15, 18911 Irredeemable. May 1 , 1897 1935 .A.t Co.'s option, A.pr. 1, 1928 May 1, 1904.c A.pr. 1, 1910May 1, 1915 Fob. 1,1895 B~t.11, 1906i J y 1, 1937 July 1, 1937 1894-1899 Meh. 1, 1916Mch. 1, 191& Jan. 1, 1909' J an. 1, 1909May 1, 193:l! Jan .. 4, 189Z A.pr. 1, 1893 Feb. 1, 1895· July 1, 190& Jan.. 1, 1930 A.pr. 1, 1894 F eb. 1, 1916 1887 and (subject to these) the incomes cover all the company's inter-est now or hereafter acquired in any of the lines which at the time of the making of the mortga.,.e were operated in the Wisconsin Central system, whether owned or leased. They therefore cover all the securities of said companies he:id by the Wisconsin Central. There are also Penokee 1st 5s, due 1937, $30,000, In June, 1891, the improvement bonds were authorized, to,. buy up the Central Car Company s1ock ~about $3,000,000) for im provements, additional equipment, etc. The total authorized issue is:. $12,000,000, of which $7,000,000 will be i-ssued for present use. Thebonds are the joint and several obligations of the Wisconsin Central Co. and Railroad Co. The bonds are further collaterally semued by purchase money first lien upon. all property bought with their proceeds. They have precedence in payment of interest over the incomes, no new mortgage can be put ahead of them, aoo if either cornpanya,hereafter issues a new mortgage, the improvemen1 bonds will be exch ngeable for bonds thereby secm·ed at par. After June 30, 1900, a sinking fund equal to 3 p er cent of the net rental from the Northern PacificCompany will .be applied to purchasing them whenever obtainable in. the open. market at 105. A full statement concerning these bonds,.. with an. account of the company's financial condition on May 1 , 1891,. was in V. 53, p. 22. See also the :form of bonds, &c., V. 53, p. 757. The Wisconsin Central Railroad had a land grant of 838,628 acres, of which on June 30, 1891, 584,127 acres remained unsold, and $107,408: land contracts were outstanding. EARNINGS AND FINANCES.-Bince the Wisconsin Central Company owns practically all the securities of the Wisconsin Central Railroad,. the entire earnings of both com~anies go into the Wisconsin Company's treasury, from them being paid the total charges of both companies_ WISCONSIN CENTRAL COMPANY AND WISCONSIN CENTRAL RR. COMPANY CONSOLIDATED INCOME ACCOUNT FOR YEAR ENDING JlJNE 30, 1891. EarningsW. C. Co. W. C. RR. Co. Total. Net Northern. Pacific rental. ...... $601,695 $665,626 $1,267,32:i Miscellaneous . . . . . . . . . . . . . . . . . . . . . . 896 288 1,185, Total.. ........................ . $602,591 $665,915 Total charges ............... . ...... $692,298 $511,225 Balance for the year ............. def . $89,707 sr.$154,689 Add surplus June 30, 1890.. .... .. 9,745 85,814 $1,268,506: $1,203,523 sr.$64,983 95,559 Surplus June 30, 1891 .... def. $79,962 $240,504 $160,542 The Chicago & Northern Paci.fie being sub-leased to the Northern. Pacific its earnings are not included in the tabulated statement for the year given below, they having no relation, to this company's :finances. In the monthly earnings or the Wiscon-• sin Central, however, as reported by the Northern. Pacilio Railroad Company, the Chicago & Northern Pacific earnings are included, consequently making them useless in. determining the earnin~ capacity of the Wis. Cent. Company. Bee full explanation in V. 51, p. 748. Fiscal year ends June 30. Report for 1890-91 was civen at length in CHRONICLE, V. 53,757,834. The income account siowed total :a.et. in.come both companies $1,268,506; total fixed charges, $1,203,523;. surplus for the year, $64,983. Earn.in.gs and expenses of the Wisconsin Central system of railroads,. as reported by the Northern Paci.fie Company lessee, were as follows : 1888-89. 1889-90. 1890-91. Earninys $ $ $ Freight ...............•........... . . . 2,642,710 3,437,205 3,743,347 Passenger ........................... 1,044,950 1,135,250 1,259,857 Mail, express and miscellaneous . . 209,904 207,889 242,510· Total.. ........................... 3,897,564 Oper. expenses (excluding taxes) .. 2,604,603 4,780,344 2,970,157 5,245,714 3,357,269' Net earnings .................... 1,292,961 1,810,187 1,888,445P. c. of ex. to earn'gs (excl. taxes). 68·00 62·13 64·00 -(V. 51, p. 646,713,748; V. 52, p.126; V . 53, p. 22,127,757, 834. Worcester Nashua & Rochester.-0wns from Worcester to Nashua and Nashua to Rochester, 94 miles. Consolidation 1883, of Worcester & Nashua and Nashua & Rochester. In October, 1885, a lease of this property for 50 years, from January 1, 1886, was made to the Boston & Maine Railroad Company at a rental of $250,000 and taxes. The mortgage of 1879 secures equally on. the road from Worcester to Nashua the debentures of 1873 and 18751 and all the other bonds, including the Nashua & Rochester lsli mortgage bonds of 1874. For 1890-91 rental $250,000; net overfixed charges, $158,573; paid dividend of 6 per cent, $183,864; deficit charged to profit and loss, $25,291. Balance of profit and loss Jun& 30, 1891, $305,869. Dividends since 1883 have been: In 1884, 112; in 1885, 3 and 17 stock; in 1886, 3; from 1887 to Jan., 1892, both inclusive, at rate of 6 per cent yearly. (V. 52, p. 204.) Zanesville & Ohio Rlver.-0wns from Zanesville, o., to Harmar, on. the Ohio River, opposite Marietta, about 80 miles, moluding branches, 3 miles. In.A.ug., 1889, interest was defaulted. Foreclosure suit 1D progress. See V. 50, p. 140. To be reorganized as the Ohio & Wes_. Virginia. From Sept. 1, 1889, to Dec. 31, 1890 (16 months), gross earnings were $206,466; net, $48,7~7: taxes. $7,882; balance, $35,904. I W.. 49, v. p. 178, 236; 50, p. 140, 353. J -- .,... o \ ~ 0 ~ ~ 00. ~ 0 0 E-4 00 ~ 0 ~ ~ OF THE WISCONSIN CENTRAL COMP.A.NIES C\l 85~ MILES. 00 r-4 COMPRISING THE ~ ~-cl ~ ~~"<osc• ,o~.~~t- § p :-,-.. ,o ~ Cl.2 ,...., JO• ~ Wisconsin Centrf;ll Company, Milwaukee and Lake Winnebago, Chicago, Wisconsin and Minnesota, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ff ff ff INVESTORS' SUPPLEMENT. 142 Sub ■crlber• [VoL. LIV. "'1.ll con.fer a great Cavor by giving Immediate notice oC any error discovered In these Tables. - Bonds-Prinol MISCELLANEOUS. INTEREST OR DIVIDENDS. Date Size, or · Amount pal,When Due. For explanation of column headings, &c., see notes on of Par Outstanding Rate Per When Where Payable, and by Stocks-Last first page of tables. Bonds Value. Cent. Payable Whom. Dividend. ---- DISCELLANE01JS. Adams ETe,ess-Stock . .........................•........... .An!~!~fur!!~ tr&~~~:~~~ ~~~~~.~~-ec~r .American Coal (Maryland)-Stock ...... ................... .American Cotton Oi~St'k $10,198,600 is pf.6 p.c. non-cum Debentures for $5,000,000, subject to call at 110, g ... c"" .American Express-Stock ....... ... ......................... American Sugar Refining-Common stock ................ Prererred stock, 7 per cent cumulative .................. 1st mort~age for $10,000,000 ......••••.•................ American el. ti Oable-Stock, guar. 5 f·c· by West. Union .American Tobacco Co.-Preferred stoc , 8 p. c. non-cum .. Brunswick Oomp£!ny-Stock ................... . ..•...•...•. Oahaba Coat Mining-Stock . ............................... lat mortgage, sinkin§, fund, drawn at 110 ....•..... c*&r Oameron Iron ti Coal o.-lst mortgage ......... . ......... Canton Company-Stock ... . ... . ..... ....... ........ ... .... Centrat ti South American Telegrap~Stock ... . ·-········· Construction certificates, redeemable in stock..... .. .... Chesapeake ti Delaware Oanal-lstM.(extendedin 1886)r Ohieago Gas-Trust Co.'s receipts of equitable interest... PeoJ'le's Gas Light & Coke lat mortgage, gold, guar ... c 2 mortgage, guaranteed ... ......... ...... ............ c Equitable Gas Light & Fuel lat mort., guaranteed .... c* Consumers' Gas lat mort.,guar. principal and interest.c Chicago Gas Light & Coke lat mortgage, gold, guar ... c ;~~fe~n~!t>~l ·--- isss .... isgo ·--.... .... ·--- ---.... .... iss6 1888 .... isgo 1886 is74 1874 1885 1886 1887 $100 100 500 &c. 25 100 1,000 100 100 100 1,000 100 100 100 100 1,000 $12,000,000 15,000,000 2,000,000 1,500,000 30,435,700 4,000,000 18,000,000 25,000,000 25,000,000 (1) 14,000,000 11,935,000 5,000,000 1,400,000 750,000 1,000,000 ·ioo 3,550,000 100 6,500,000 1,000,000 100 2,602,950 500 &c. 100 25,000,000 2,100,000 500 2,500,000 500 2,000,000 1,000 1,000 3,832,000 8,350,000 1,000 A.dams Express.-No reports. A.merlcan Bell Telephone Co.-Dividends-In 1881, 6 per eent; in 1882, 11; in 1883, 12; in 1884, 15; from 1885 to 1887, inclusive, 16 ; in 1888, 18 ; in 1889, 18 ; in 1890, 18; in 1891, 18 p. c.; in 1892, Jan., 3 p. c. · Stockholders of Jan. 27, 1891, had the privilege of &ubscribing to $2,500,000 new stock issued April 1, 1891. On Jan. 1, 1891, the company had 240,412 miles of wire in use, against 193,213 miles in January, 1890. The annual report for 1890 was in CHRONICLE, V. 52, p. 532. INCOME ACCOUNT. 1887. 1888. 1889. 1890. Total gross earnings ..... $3,453,028 $3,865,119 $4.044,704 $4,375.291 Net earnings............. 2,210,597 2,414,206 2,658,738 2,869,418 Other receipts............ 27,011 22,258 3,150 I 2 3 7 3 ..8.g. 3 4 312 6 114 2 114 1 7 g. i,-M, New York, 59 Broadw'y .-J. Boston, Comp'y's Office. F. & A. do do M.& S. N. Y., Office, 1 B'dway. Q.".:.:F. ---- N. Y., Winslow, L. & Co . .T. & J. N.Y.,Co.'s Of., 65 B'way N. Y. Office, 117 Wall St. J:·&-·J . do do J. & J. N. Y., Central Trust Co. ~.-M. N. Y., West. Union Tel. .-F. N. Y., Farm. L. & Tr. Co. ..... Company's Office. ..... Company's Office. N. Y.,Farm.L.&Tr.Co. J ...&.. J. In default. --i~ 5 5 114 6 g. 6 g. 6 g. 5 g. 5 g. M.&N. J. & J. Q.-J. M.&N. J. & D. J. & J. J. & D. J. & J. Q:.:.:.i N. Y., Office, 37 Wall St. do do Phila.,Of.,528WalnutSt Phila., Fidel. Insur. Co. N.Y .. Cent. Tr.& Lond'n. do do N.Y.,Cent. Tr.& Chic.Of. Chicago, Union.Nat. Bk. N. Y., Central Trust Co. Dec. 1 Jan.15, Aug. 1 Sept. 10, 1891 189Z1898 1891 Nov:1,"~i900· Jan. 2, 1891' Jan, 2, 1892' Jan. 2, 189Z' Jan., 1911 Dec. 1, 1891 Feb. 3 1892: Feb.25, 1890 Jan. 25, 1892-' Jan. 1, 1907 1928 Jan: ·9: · .i892: See remarks. July 1, 1916 Dec. 18, 1891 Nov. 1, 1904. Dec. 1, 1904 July 1, 1905 Dec. 1, 1936 July 1, 1937 dividends have been paid to the stockholders, each of 4 per cent on the-common and 312 per cent on the prefened stock, amounting in all to, $3,750,000, leaving a surplus of net earnings of $1,323,002 reserved for-contingencies.'' BALANCE SHEET DEC. 31. Assets. Liabilities. Cash .................... $2,558,040 Preferred stock........ $25,000,000<Call loans.............. 1,196,955 Common stock ......... 25,000,000, Sugar and supplies.... 7,110,549 Unpaid dividends... . 1,879,912 Accounts receivable... 2,971,642 Bills payable... . ....... 8,570,000, Stocksandinvestm'nts 3,558,288 Miscellaneousitems... 1,072,476: Loan accounts......... 1,357,070 Surplus...... . . . . . . . . . . 1,323,002 Plant.............. .. ... 4.1,250,000 Miscellaneous items. .. 2,842,847 Total. ................ $62,845,391 Total. ................ $62,845,391 Dividends before reorganization-October, 1887, to July, 1890, inTotal.................. 2,237,608 2,436,464 2,661,888 2,869,418 clusive, 212 per cent quarterly. In the reorganization 5 per cent wa.& DisbursementsRegular dividends........ 1,176,252 1,192,152 1,238,913 1,463,913 distributed. Dividends since reorganization: On preferred stock in 1891,. Extra dividends.. .... .... 392,084 597,726 600,000 750,000 July, 312 per cent. On common stock, in 1891, July, 4 per cent. Price of Refining Company's temporary certificates for common Depreciation reserve..... 132,616 646,586 700,000 655,505 stock-In 1891, 5712@935s; in 1892 stock, 78121.v8812. Price of temporary certificates for preferred-In 1891, 85@98; in, Total.................. 1,700,952 2,436,464 2,538,913 2,869,418 1892, stock, 901D94. Surplus.......... . . . . . . . . . 536,656 .. .... . . 122,975 New York office, 117 Wall Street. (V. 51, p. 85, 143, 241, 276, 346. -(V. 49, p. 269, 341; V. 50, p. 449, 589 ; V. 52, p. 121; 532.) A.merlcan Coal.-There are mortgage bonds for $200,000. The 538, 609, 646, 681, 788, 877; V. 52, p. 12(), 535, 899; V. 53, p. 156; V ~annual statement for 1889 in V. 50 p. 275, gave the following informa- 54, p. 1 l 9.) A.m.erlcan Telegraph & Cable Company.-Owns two cable& tion: Income, 1889, $760,802 ; total expenses and interest to March, 1890, $651,853 ; balance, $108,948, against $103,034 in 1888 ; divi- between Sennon Cove, England, and Dover Bay, Nova Scotia. Cables leased to Western Union till 1932, with a guaranty of 5 per cent per andends (6 per cent), $90,000; surplus, $18,948. (V. 50, p. 275.) A.m.erlcan Cotton Oll.-This company was incorporated Oct. 12, num on the stock issued-$14,000,000. American Tobacco Company.-This company was organized in,. 1889, under the laws of New Jersey-, to succeed the American Cotton Oil Trust, of which it was a reorgamzation. Owns the followin~ prop- 1890 under the laws of the State of New Jersey, for the purpose of buyerties, all of which are free from mortgage lien : 71 crude oil mills, 15 ing, manufacturing and selling tobacco in all its forms. It 1s the ownerrefineries, 5 lard plants, 7 soap factories, 15 cotton ginneries, 5 cotton of the real estate, tobacco factoriesJ.patents, &c., formerly belonging tocompressors and 8 fertilizer factories; in all 127 properties, of which 38 Allen & Ginter, W. Duke Sons & uo., The Kinney Tobacco Company~ were not active on Aug. 31, 1891. Statement to N. Y. Stock Exchange William S. Kimball & Co. and Goodwin & Co. Its assets in June. 1890, were valued at $26,825,000. In April, 1891, the tobacco factories. in v. 52, p. 763. The preferred stock is 6 p. ct., non-cumulative. It is secured by deposit of the Marburg Brothers and G. W. Gail & Ax, of Balt.imore, were purof $41,678,400 certificates of the American Cotton Oil Trust, and is chased, the terms of the sale being reported as two--flfths cash and th& subject to call at any time at 105. Preferred stock for $4,801,400 and rest in common stock of the American Company. On July 14, 181)}__1 common stock for $854,900 (additional to the amount given in the stockholders voted to increase the common stock to $21,000,IJVV' table above as outstanding) is in the company's treasury, and enough (par $50) and the preferred stock to $14,000,000. Bee V. 53,. of such preferred stock must be held to exchange at par for the deben- p. 21. Preferred stock listed in September, 1890. See application in tures; they are subject to call at 110, on two months' notice. No mort- CHRONICLE, V. 51, p. 349. Dividends on preferred : From Aug., 1890,. gage lien can be placed upon the property without the written consent to Feb. 1, 1892, incl., 2 per cent quarterly. (V. 52, p. 641; V. 53, p. 21.) · of the holders of 80 per cent of these debentures. The Cotton Oil Trust Brunswick Company.-Owns real estate and water front in the paid one dividend of 1 per cent August, 1887. Price of common stock city of Brunswick, Ga., and vicinity, valued January 1, 1890, at $2,324,in 1891, to Nov. 20 inclusive, 15 7s@303s. Price of preferred, 33½@55. 365 ; also stocks and bonds of local companies (hotels, horse railroads,. Fiscal year ends August 31. Annual meeting ot. etockholders on the &c.) of par value of $632,150, cash value $332,15~. Total liabllities 1 first 'rhursday of November. The first full report of this company was April 30, 1890, $18,436. In 1890 company purchased $100,000 of its published in the CHRONICLE of Nov. 7, 1891 (V. 53, p. 676), BhOwin"' own stock at from 29 to 32. (V. 50, p. 834.) value of property Aug. 31, 1891, as follows: Appraised value of r~a'i Cahaba Coal 1'Iln.lng.-Owns 12,380 acres of coal and iron lands-estate, m11,chinery, &c., $9,845,598; cash in ban.ks, $1,452,606; bills Bibb County, Alabama, with six mines in operation; also 16 miles of and accounts receivable, $1,328,788; marketable products and supplies in railroad connecting with the Alabama Great Southern and Louisville &: on hand, $3,146,944: total valuation, $15,773,936. Nashville railroads. The application to the Stock Exchange was in For the year ending Aug. 31, 1891, the profits of the whole business were $1,902,181, less expenses of administration. interest on bonds, &c., CHRONICLE, V. 47, p. 441. In year 1890-91 the coal output was 509,631 tons and that of coke 58,815 tons; the earnings were $233,761 and. '579.187; balance, net income, $1,322,994. The profits from all the properties, exclusive of interest charges and general office expenses the net profit $173,577. A dividend of 1 per cent was paid, the balance of earnings being used for interest charges, sinking fund, reduction of have been as follows since 1886: Year ending May 31, 1887, $2,448,225; year ending May 31, 1-S88, $2,459,152; fifteen months to Aug. floating debt, etc. (V. 52, p. 831.) Canton (Improvement) CoDlpany (Baltlmore).-The capital 31, 1889, $1,835,795; year ending Aug. 31, 1890, $129,979; year endstock, by changes made subsequent to the original issue, became praoing Aug. 31, 1891, $1,902,181. tically only $16 25 par per share. The Union Railroad sinking fund ot -(V. 51, p. 20,276,344,645,753, 909; V. 52, p. 641,761,763; V. 53, $918,703 remains the property of Canton Company, and is held by th& p. 673, 676,) trustee till bonds have been paid off at maturity. In 1890 and 1891 alAmerican Express.-Dividends of 6 per cent yearly have been debts having been paid, there was a considerable sum devoted to pUPpaid since 1879. chase of company's stock. (V. 49, p. 824; V. 50, p. 71, 174; V. 53, p. 108.) Central & South A.merlcan Telegrapll.-Owns cable line from A.m.erlcan Sugar Refinlng.-This new Jersey corporation be· Vera Cruz, Mexico, to Valparaiso, Chili, .(,750 miles, and land lines came in January, 1891, the owner of all the property theretofore belonging to the Sugar Refineries Company, or so called Sugar Trust. 350 miles. Also the Trans-Andine telegraph lines, 1,200 miles, purIn June, 1890, the courts decided that the North River Company had ·chased in 1891, and connecting Valparaiso with Buenos Ayres~ forfeited its charter by its alliance with the Sugar Refineries Company, Connects at Vera Cruz with Mexican Telegraph Company, and and it was thereupon agreed to reorganize under the present title, owns an interest in the direct cable between Galveston and according to plan in CHRONICLE, V. 51, p. 609. The receivers appointed Coatzacoalcos, 825 miles. In Feb., 1891, the cable from Chorillis, Peru,. in November, 1890, were discharged January 10, 1891. The directors to Valparaiso, about 1,650 miles, was completed, and $1,000,000 5 per are H. 0. Havemeyer, T. A. Havemeyer, F. O. Matthiessen, Geo. C. cent construction certificates were issued, redeemable with stock at par within three years, at discretion of directors. With this in view an inMagoun, J. E. Searles, Jr., Wm. Dick and J.B. Thomas. At the annual meeting held Jan. 13, 1891, in Jersey City an increase crease of stock to $6,000,000 was authorized, and in November, 1891,. of $25,000,000 in stock was voted, h alf to be common and half pre• a further increase to $6,500,000 to acquire line connecting Valparaisoferred. This is to be sold at par and the proceeds used for buying up with Buenos Ayres. Dividends-In 1885 and 1886, 4 per cent; in 1887, other refineries or for building. The fiscal year has been changecl 6 per cent; from 1888 to J an.,1892, both inclusive, at rate of 7 p. c. per· to end November 30. Directors are to be classified so that annum; in March, 1890, a stock dividend of 20 per cent was paid. In two will serve for three years, two for two years and 1890_ gross earnings. were $607,593; net, $~44, 764. J ames A. Scrymser,. . two for one year. The refineries of the American Com- President, New York.-(V.50, p. 314,518, V. 53, p. 880.) Chicago Gas.-A company called the Chicago Gas Trust Companypany and Si,reckels in California have been leased to a new company, of which each owns one-half of the stock. Very little information was incorporated in Illinois in 1887 to acquire gas properties in Chi . in detail has ever been given about the company's affairs. The brief cago. In April, 1890, its name was changed to the Chi:iag-o Gas Com report had the following : "By reason of the magnitude of the business pany, and in April, 1891, the stockholders deemed it expedient to surand the remoteness of some of the refineries belonging to the company, render their charter to the State, the courts of Illinois having decided it had been found impossible to secure absolutely accurate reports up to that the holding of stocks in constituent companies was illegal. TheDec. 31. The books of the company, however, show net earnings for Fidelity Insurance Trust & Safe Deposit, which holds in trust all the year not less than $5,073,002, from which amount two semi-annual the securities formerly belonging to the old company, was asked to https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JANUARY, 1892.] MISCELLANEOUS STOCKS AND BONDS. 14.3 Subscriber• will confer a great favor by giving Immediate notice of any error discovered In the•e Tables. MISCELLANEOUS. INTEREST OR DIVIDENDS. Bonds-PrinofDate Size, or Amount pal,Wehn Due. For explanation of column headings, &c., see notes on of Par Outstanding Rate Per When Where Payable, and by Sto~ks-Last first page of tables. Bonds Value. Cent. Payable Whom. Dividend. -Ohicazo Junction Railways cl: Union Stock Yards-Stock .. Pre erred, 6 per cent cumulative ......................... Collateral trust bonds, gold, $ or £ .................... c* .(Jlaflin (H. B.J Company-Common stock .................. 1st pref. 5 per cent cum. ($819,100 is convertible) ...... 2d pref. 6 per cent cum. ($771,900 is convertible) ....... .... $100 100 1,000 100 100 100 100 1,000 :r: $6,500,000 5 Office, 45 B'way. July 15, 1891 .&..J. N. Y.,do 6,500,000 3 do Jan. 25,1892 10,000,000 5 g. J. & J. N.Y., Cent. Tr.; London. July 1, 1915 3,203,400 2 Q.-J. N.Y.,Office-Church St Jan. 15,1892 ·-·· .... 2,910,200 Q.-F. 114 do do Feb . 1, 1892 .... 2,886,400 Q.-F. 112 do do Feb. 1, 1892 .Cotorado Ooal d Iron-Stock ............ ................... 10,000,000 .. &.A. .. 6.g. 1st consol. mort., gold, accum. sink. fund, not drawn.c* isso 3,499,000 F. N. Y., Offlce;¥rs"wall st. Feb:· ·i9oo 300,000 Col. Coal&IronDevelopm'tCo. lstM., ~ar.,red.at 105. 1889 5 J. & J. do do Jan. 1, 1909 ·ioo 2,517,000 -Colorado .Fuet--Common stock, for $3,00 ,000 ............ .... 3 . 1, 1891 ··--- N. Y.,doOffice, 18doB'way. Oct 100 Pref. stock (8 per cent cumulative) for $2,000,000 ...... ---1,678,000 4 F. & A. Feb., 1892, 1,000 Generalmort. gold, for $1,200,000, s. f. red. at 110 .. c• 1889 6 g. M.&N. N. Y., Atlantic Trust Co. May 1, 1919 935.000 ColumbusctHock. Ooalcl:IronOo.-Stock, $200,000 ls pref. 100 4,900,000 212onpf. F. & A. tN. Y., Office, 80 B'way. Aug. 20, 1891 1,000 1st M., '5· (13,351 acres l'd, min's & b'd'gs) s.f. not dr'n.c* i887 985,000 6 g. J. & J. N. Y., Merch. Ex. Bank. Jan. 1, 1917 Commercial Gable-Stock ($10,000,000) .................... .... 100 7,716,000 Q.-J. New York, 1 Broadway. Jan. 2, 1892 134 £200,000 Debentures pa~ble £40,000 to £120,000 per annum .. J. & J. New York and London. 189~ to 1900 6 Comstock Tunne Income, non•cum., for $3,000,000 ... c* isso 500.&c. $1,908,000 4 g. M.&N. N. Y., Office, 115 B'way. Se~t. 1, 1919 -Oonsolidated Electric Light-Stock .. ..••...........•....... .... 100 2,500,000 Q.-J. N.Y.,Co.'s0f.,32Nassau Oc. 1, 1890 114 Debenture bonds, sinking fund .......................... c ..... 163,100 6 J. & J. N.Y., Am.Exch. Nat.Bk. 1892-1895 ---,Consolidation Goal of Maryland-Stock ...... .............. 100 10,250,000 2 N.Y.,Co.'s0f.,71B'way. Feb. 1, 1892 .&.. J-. 1st mort., consolidated, convertible into stock at par .. c 1872 1,000 1,100,000 6 do do Jan. 1, 1897 4,/Jonsolidated Gas (N. Y.J-Stock ............................ 100 35,430,060 212 J. & D. N. Y.,Office,4IrvingPl. Dec. 15, 1891 1,000 Knickerbocker Gaslight, 1st mortgage, sinking fund.c* i878 587,000 J. & D. 6 do do June 1, 1898 Metropolitan Gaslight Co., 1st mortgage .............. c' 1881 500 &c. 658,000 F. & A. N. Y., Farm. L. &Tr. Co. Aug. 1, 1901 6 1,000 Debentures for $3,000,000 .............................. r 1888 1,500,000 M.&N. N. Y., Offlce,4 Irving Pl. May 1, 1908 5 i890 ---- "issue therefor, to the holders of Chicago Gas certificates, trust certitl.· ,oates for an equitable interest in the securities so held. See V. 53, p. 21. These certificates, which represent all the property that the Chicago Gas certificates ever represented, certify that the holder is entitled to his ratable proportion of the ownership in all the stocks held by the Fidelity Company (subject to the lien of the bonds), and has the right to receive the dividends thereon and to vote the same as he may choose. In June, 1891, a. settlement was reached with the Chicago city offl· --0ials by the several companies on the basis of the city getting 312 per cent of the gross receipts, or at least :$150,000 per annum, and paying $1 per 1,000 feet for its gas-the price of gas to other consumers to remain at $1 25 until 1893, when a reduction of 5 cents in the price should be made each year following until $1 has been reached. See V. 52, p. 939. In July, 1891, :a rival company called the Economic Fuel Company was formed. See 'V. 53, p. 95. The Chicago Gas Company owned $14,887,625 of the $14,984,200 -t1tock of the companies whose bonds are given in the table above, and --this stock was deposited in trust for the benefit and security of the -shareholders of the Chicago Gas Trust Company, and for the security ·of the holders of the mortgage bonds that were then, or might there::after, be issued by any of said companies. Through its interest in said <()Ompanies the company also controlled all but $15,800 of the $1,750,000 stock of four smaller companies, three of which have outstanding the following bonds: Lake Gas Company, $300,000 1st mortga"'e as; Hyde Park Gas Co., $200,000 1st mortgage 6s; and Illinois Lig'lit Heat & Power Co., $200,000 1st mortga~_e 7s ; these last being guaran· teed by the Peoples' Company, but not uy the Trust. Bee application in full to New York Stock Exchange for listing the :above securities in CHRONICLE, V. 47, p. 746. Dividends-In 1889, 4 per cent; in 1890, March, 1; July, 1; October, cr.; in 1891, Sept., 114; Dec., 114. Price of stock-In 1888, 2934W44; in 1889, 34W62; in 1890 32W65; 1n 1891 to Nov. 20, inclusive, 34W6112. A circular issued in December, 1891, by Messrs. Benedict and others in New York gave a full statement regarding the comJ_>any, and was quoted in the CHRONICLE of Dec. 19, V. 53, p. 921, contaming the fol· lowing exhibit. . The earnings for the past two years have been as follows (November a.nd December, 1891, estimated): Net Earnings. 1890 .... ........................ $2,389,709 1891....... ... . .. . . .. . . .. .. .. . . . 2,729,942 Interest.. Surplus. $1,035,100 1,044,250 $1,354,609 1,685,692 Showing increase of surplus earnings of (after deducting $150,000 paid the city under contract) .... .......•... The co~panies have no floating debt whatever. $331,082 Ti~;4ff_~~~~~~.~~~ ~:. -~~~.~~ .~~~~~~~~~~. ~~~ -~~~~~~~~-· Less bonds on hand ............................ .. .......... . $19,782,000 413,000 ---- $19,369,000 Amount of Fidelity receipts outstanding ..... $25,000,000 Less amount canceled............ . .... . ........ 114,200 $24,885,800 -(V.50, p. 352, 422, 451, 487, 770, 800, 904; V. 51, p. 193, 240, 645, ~80; v. 52, p. 121, 164, 203, 570, 718, 899, 939; v. 53, p. 59, 921.) Chicago .Tunctlon Railways & Union Stock Yards.-This company, incorporated in 1890 under the laws of the State of New Jersey, has purchased 98 ~er cent of the stock of the Union Stock Yard & Transit Company of Chicago, which latter company owns the entire stock of the Chicago & Indiana State Line Railroad Company. The property thus controlled is situated in Chicago, and consists of 470 acres of land (with one mile of water front) containing warehouses, sheds and pens (to accommodate 25,000 head of cattle, 160,000 hogs, etc.); also 130 miles of steel-tracked railway, connecting with all the railroads entering the city. The :preferred stock is 6 per cent (cumulative), and in case of liquidation will have priority over the common stock as to all assets. The collateral trust bonds are secured by deposit with the Central Trust Company, trustee of over 90 per cent of the stock of the Union Stock Yard & Transit Company. For full particulars see advertisement in the CHRONICLE of July 19, 1890, and V. 52, p. 203. The directors of the company include, with others, Messrs. Chauncey M. Depew, John Quincy Adams and Edward J. Phelps. In July, 1891, a fifteen-year agreement was made ·with the Chicago packers, Messrs. Armour, Morris and Swift, by which they guaranteed the company a certain amount of business yearly, and the Union Stock Yard Co. guarantee $2,000,000 of 5 per cent b onds on the 1,000 acres. At tbe same time was acquired the stock of the Tolleston Stock Yard Co., which controls 4,000 acres of land, of which 1,000 acres is owned. See V. 53, p. 435. Dividends: On preferred, 6 per cent yearly to date. On common, in 1890, 212 per cent; in 1891 712; in 1892, January, 3. Fiscal year ends June 30. Report for year 1890-91 was in V. 53, p. 125, showing gross income, $1,816,780; extraordinary expenses, etc., $294,475; interest on bonds, $500,000; balance net income, $1,022,.304; adding interest account ($26,463), total net, $1,048,767; out of which paid dividends (10 on common and 6 on pref.), $988,117; balance, surplus, $60,650. The Union Stock Yard & Transit Company from January 1 to Feb. 28, 1891 t2 months), had gross earnings of $498,924, against $438,017 in 1890; net, $337,423, afainst $324.889. In 1890 gross earnings -were $2,853,476; net, $1,90 ,388. In 1889, gross, $2,451,038; net, =$1,495,329. (V. 52, p. 203,204,238; V. 53, p. 21,125,186, 435.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1; J: Olaflln (H.B.) Co01pany.-Incorporated under the laws of New Jersey in May, 1890, to carry on the mercantile business of the firm ot H.B. Claflin & Co., of New York City, Mr. John Claflin agreein~ to hold $3,000,000 stock and to remain President of the company till May, 1895, if agreeable to stockholders. Preferred stocks have preference both as to principal and dividends. The company's premises have a frontage ot 375 feet on Worth Street, and with all appurtenances are valued at $2.000,000, its total assets Dec. 31, 1891, including merchandise, ~ccounts receivable, etc., being put at $14,504,856. Profits applicable to dividends were: In 1886, $692,000; in 1887, $766,000; in 1888, $706,000; in 1889, $784,000; in 1891, $658,096, the net profits for the last balf of the year being $303,435 and the surplus above dividends on preferred stock and 4 per cent on common, $12,502. Dividends: On preferred stocks full dividends to date. On common stock in 1891, 10 per cent; in 1892, January,. 2. In September, 1891, it was decided to pay the dividends on the nrst preferred stock here• after in gold. (V. 53, p. 94.) a.- Colorado Coal & Iron.-This company, with headi1uarters Pueblo, Col., is a large owner of coal and iron property in Colorado and of land and town sites around South Pueblo. Stock is non-assessable. The Development Company's bonds (guaranteed) oover real estate in Pueblo, Col. An abstract of the report of 1890 was in V. 52, p. 4c26. INCOHE ACCOUNT. 1888. 1889. 1890. 8 $ . $ Gross earnmgs .......................... 2,212,623 1,300,416 2,769,490 Totalnet,incl. inc. frominvestm'ts, &c. 300,149 123,377 500,625 Interest on bonds....................... 209,940 209,940 209,940 Interest, discount. exchange. &c...... 10,402 17,057 5,258 Taxes andinsurance ................... . H,108 34,076 Items to profits and loss................ · ·5;305 45,089 11,365 Total........................ . . . . . . .. 225,647 316,194 260,639 Surplus.................................. 74,502 df.192,817 239,986 In the real estate department the earnings are wholly from rentals of houses, lands, &c., containing no receipts from land sales. The land sales in 1890 realized $1,023,683 (terms being, cash $190,839, on time $802,745, securities at value taken $30,000), against $2,002,193 in 1889. The sales in 1889 included the sale to the Development Company for $1,561,666, mostly paid for in securities. July 1 to Sept. 30, 1891, net ea~nings were $67,131, against $57,037. E. J. Berwind, President. Office m New York, 35 Wall Street. (V. 48, p. 189, 398, 462; V. 49, p. 690,824; V. 50, p. 352,450,483.519; V. 52, p. 426; V. 53, p. 95.) Colorado Fuel.-( See Map.J-This company owns the fee simple title to 21,000 acres of coal lands in Huerfano, Las Animas, Gunnison, Pitkin and Garfield counties, Col., and has equipped and in operation six mines, with a capacity of 6,100 tons of coal daily It operates and controls the only anthracite coal mines west of Pennsylvania and also has bituminous coals suitable for domestic, gas, smelting and coking purposes. No mortgage indebtedness can be incurred in excess of $1,200,000 without the consent of 75 per cent of the preferred stock. The preferred stock is 8 per cent cumulative. Dividends on common stock in 1891, Feb., 3 per cent; Oct., 3. An issue of $1,200,000 first mortgage bonds was authorized May 1, 1889; of this issue $80,000 have been canceled; $935,000 are outstanding, and $185,000 can be sold it required for additional lands or openin~ new mines. 'The provisions of the mortgage require that $40,000 of "the bonds shall be canceled annually. Net earnings July 1 to November 30, 1891, $128,854', against $122,862 in 1890. The net earnings for year ending June 30, 1891 were ...... $330,938 14 Deduct interest on bonds..................................... 56,100 00 Balance ...................................................... $274,838 14 Required for 8 per cent on $1,678,000 preferred stock..... 134,240 00 Surplus ....................................................... $140,598 14 J. C. Osgood, President. New York office, 18 Broadway.-(V. 49, p. 857, 864; v. 52, p. 831; v. 53, p. 257, 435.) Colu01bns & Hocklncr Coal & Iron Company.-Organiaed at Columbus, 0., January 26, f883, and owns large coal and iron properties, with extensive works thereon, in Ohio, a full description of which was published in the CHRONICLE of February 26, 1887, V. 44, p. 278. The Central Trust Company of New York is trustee of the mortgage. After May 1, 1888, two cents on every ton of coal from the mortgaged premises .s-oes to a sinking fund; bonds tendered may be purchased at not above 10::>. Dividends on preferred: In 1891, February, 212 per cent; August, 212. In fiscal year ending March 31, 1891, gross earnings were $1,190,011; net, $147,638 \against $121,225 in 1888-89); surplus over interest, taxes and dividend on preferred, $dl,012; from which paid royalties on coal not owned in fee, $17,743; car rentals, $3,221; discount, $18,255; improvements, $8,220; balance, $13,572. New York office, 80 Broadway.(V. 52, p. 507, 643,831; V. 53, p. 187, 288.) Commercial Cable Company.-This is popularly known as the Mackay-Bennett Cable Company, owning two cables from No"f"a Scotia to Ireland; one from Ireland to Havre, France; one from Ireland ta Bristol, England; also one from Nova Scotia to New York and one t ... t M.APSHOWING TERRITORY AND PRINCIPAL :MARKETS SUPPLIED WITH COAL AND COKE BY COLORADO FUEL COMPANY ----r---------·--r-----l l == 1 ' I I I I ;-----_,.0- '1\ di , ct' G 0 R A I J-----~~--~ -¾. >- ~----.oi ... I • ~ ~c, ~ i$ ~ - ~o~/L~ ~i, \,. (. ~ ~ t-z:j ~,.... :u .~::~J"ii/4~:f; s V A D A : I co ', , ., : • 1--I 00 ~ 0 ~ 00 Cl tot, tot, ______,ii ~ ~ =>f ~ i r3 I i • L~-~~-~- - ~-~-:~_,, llli,-,.T°fllll"'- I 1D O L O , ii R E S / L--.----- ·'s --------1-- LOCATION OF COAL PROPERTIES OWNED & CONTROLLED BY THE COLORADO FUEL COMPA.NY Indicated by ·:~'.,.., -..-...-··J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * A - ,, ~ CANl!Ji,t uis< .;,' < j'► . /.f -so~ ---~ iL .. ~-~~- .. 1 t: ~ JANO'ABY, 189!.] MISCELLANEOUS STOOKS AND BONDS. Sab•crlber8 -will confer a great favor by giving lnunedlate notice of any error discovered In these Tables. MISCELLANEOUS. INTEREST OR DIVIDENDS. Bonds-Prine! - - - - - - - - - - - - - - - - - - - - - - - 1 Date Size, or Amount pal,WhenDue. :For explanation of column headings, &c., see notes on of Vpalaure. Outstanding Rate per When Where payable, and by Stocks-Last first page of tables. Bonds Cent. Payable Whom. Divid~d. , - - -· ------ - - - -· •1aware Division aanal-lst M. (ext'd 20 years in 1878) .c enver Oity Oabler-lst mortgage, gold .......... •...... c*&r nver Oity Water-General M. for $7,000,000 gold .... c* .I>enver Oonsolidated Gas-1st mortgage, gold ............ c Denver Tramway-1st mortgle, gold .......•.. •••••••••··· Consol. mortgage, gold, for 2,000,000 .............. c*&r Ji>etroitMac1'. cf Marquette Lan ao.-M. (inc.) red. at 100.r ~troit Union RR. Depot cf Station-1st mort., gold .... c* .Jljs_tilling cf ari,ttleFee4,inf1:.... ..........................•.. ... •Jdll~on Electric Illuminating-Stock ..••.................... Oertiftcates convertible into stock (See remarks) ....... . lstM.for $5,000,000,convert. ,g. ,red.at 110 aft'r 1899 . . c* !Edis on General Electric-Stock . .••.......................... 1858 $1,000 $800,000 6 1888 1,000 3,313,000 6 g. 1890 1,000 1,138,000 5 g. 1891 100 &c. 1,500,000 6 1888 1,000 498,000 G g. 1890 1,000 1,219,000 6 g. 1881 1,000 3,551,000 7 1888 1,000 600,000 4 g. .... 100 35,000,000 112 .... 100 4,500,000 114 128,390 1 isifo 1,000 2,250,000 5 g. 100 15,000,000 2 100 4,000,000 2 1,000 1,000,000 6 1,000 750,000 6 100 4,800,000 1 100 5,000,000 112 500 500,000 6 100 18,650,635 5 stock 1,000 6,200,000 5 100 3,000,000 112 100 2,000,000 2 500 500,000 6 100 10,000,000 114 on pf. i889 100 &c. 10,000,000 5 g. B'IJt~!':ft ~a_8_.~~.~~ .~~: .o!. ~~~ .:~~~~~~~~~::: :: ::::::: ::: Certificates of indebtedness, redeemable in 1891. ...... . iss6 Ei'e Telephone cf Telegraph ................................ . ·"1o ,Ill\ cf Stock Tel.-Stock,ren,talgllar.6p.c.99 yrs.W.U.Tel.. n~s, not mortgage. --· ................................. c OUJ Steel-Stock ................. ....•................... bentures, subject to call at 105, convertible into stock ,In_ rnat'l Ocean Telegraph,-Stock, 6 p. c. 99 yrs., W. Union . iir'5;f Steamboat Oompany-Stock ..... ..................... . J;J.onds .. .. ..... ....................................... .. ... . Lfa~e:o~r:::tt~i~~~-~~•~~?:?~~-i~.~~~:·.~ ~-~:~~·!:o~ issi. ~ckport, Mass., &c. In September, 1887, the stock was raised to $6; <100,0001 and in October, 18881 to $10,000,000, of which sufficient is reserved llO redeem the debentures, &c. Dividends-In 1889, 112 per -cent; in 1890, 6 per cent; in 1891, 7; in 1892, Jan., 134. On Jan.15, 1891 and 1892 company elected to pay off £120,000 debentures, being the maximum amount payable per annum. In 1890 gross earnings -:$1,931,893, net $1,219,065. Mr. J. W. Mackay, President, 1 Broadway, NewYork.-(V. 49, p.403; V. 50, p. 71,706, 735.) Comstock Tunnel.-Owns the Butro Tunnel on Comstock Lode for facilitating gold and silver mining operations. The property was fqreclosed January 14, 1889, and this company formed in September, 1889, with 2,000,000 shares of $2 each, mak:l.ng $4,000,000 capital, a~ainst $20,000,000 of the old Sutro Tunnel Company. The company h!facontracts with a number of mining companies for payments of roy• a at the rate of 4 per cent on the bullion yield at market price in ·g_o !}. The reorganization plan provides that one-half the surplus inoom.e above interest shall be applied to purchas'3 of the bonds if obWnable at or below 75, and m March, 1891, about $90,000 was devoted to this purpose, thus reducing the funded debt by $231,000. The annual report for year ending August 31, 1891, was in V. 53, p. 51.f>, givin~ the account of new contracts made with mining companies on, the basis of 4 per cent on the assay value of ore taken out. After pl(Ving all expenses and interest due November 1, 1891, a balance of .affi>ut $60,000 was then carried forward. Further contraets for transP(\.I'ting low-grade ore, &c., &c., referred to in the report have since 'b~~P. made. (V. 50, p. 37,174,622; V. 51, p. 537,608; V. 52, p. 427, 462,571; V. 53, p. 519,604). Consolidated Electric Llght.-The property of this company in NeF York & Pittsburg is leased to the Westmghouse Electric Company fof"$150 000 per annum and one cent royalty on every incandescent el~ctric iamp manufactured by the lessee. For statement made to New York Stock Exchange on listmg stock, see CHRONICLE, V. 48, p. 428. In 1890 stock paid 434 per cent.-(V. 48, p. 420,428; V. 49, p. 434.) Con•olidated Gas of N e-w York.-This company was organized November 11, 1884, under chapter 367, laws of New York, 1884. The companies merged in it were the New York Gaslight, the Municipal Gaslig"ht, the Metropolitan Gaslight, the Manhattan Gaslight, the Knickerbo'c ker Gaslight and the Harlem Gaslight. The total stock was $39,0~,000, of which $3,647,940 was reserved for working capital and for indebtedness of old companies. (V. 46, p. 418, 537.) ConsoJldatlon Coal.-Annual report for 1890 was in V. 52, p. 390, The gross receipts from mines, railroads, rents, 1889. 1890. &c.(including value of stock of coal on hand).$2,339,645 $2,583,092 Net receipts. ..................................... $407,996 $468,456 The interest and sinking fund in 1890 took $181,739 ; balance, sur• ,-plus. $286,716. Baltimore & Ohio Railroad owns $3,810,000 stock. This company guarantees also $1,000,000 bonds of the Cumberland .& _Pennsylvania Railroad, which it owns, and assumes $55,000 of the Union Mining Company's bonds. Dividends since 1880-For 1881, 2 per cent; for 1882 and 1883, nil; for 1884 and 1885, 1 ; for 1886, 34 ; for 18_87, 112; for 1888, 214; for 1889, 2; in 1890, 2; in 1891, 2 per cent; m 1892, February, 2.-(V. 50, p. 313; V. 52, p. 390.) Dela-ware Division Canal.-Owns canal leased to Lehigh Coal ..& Navigation Co. at interest on bonds and 4 per cent a year on stock <(payable February 15 and August 15). 30,486 shares have been con• vm-ted into Lehigh Coal & Navigation stock, leaving only 2,181 shares unconvertible. Interest on bonds is guaranteed. · Denver City Cable.-Owns an extensive system of cable lines in Denver, Col., and has the exclusive right to operate horse railways in that city till 1902. Milea~e owned: Cable lines, 25 miles single track; horse car lines, 47 miles smgle track total owned and operated May 1, 1891, 72 miles. Stock authorized, $3,000,000; outstanding, :-$2..i770,000 ; par $100. See application to New York Stock Exchange ~t length in CHRONICLE, V. 50, p. 487. Denver City Water.-Owns water works supplying the city of Denver..t Col., and suburbs. The general mort~age (trustee, Central Trust uo. of N. Y.) is for $7,000,000, but of this amount $3,000,000 bQµds are reserved for future construction and improvements, and 112,862,000 are held to secure the payment of $2,575,000 of prior lien l ~ds. Capital stock, common, $5,000,000; preferred, $2,000,000. In year 1890-91 gross earnings were $384,155, against $308,444 in 1889-90. See the official statement to ~e N. Y. Stock Exchange, with balance .- sheet, etc., in V: 52, p. 975. Denver Consolidated Gas Co.-OrganizedNov.16, 1891, to take over the old gas company in Denver, Col. Capital stock, $1,500,000. Mortgage covers all the corporate property, which includes valuable real estate in Denver. Gro.s s earnings year ending Jan. 20, 1892, $374,027; net, $194,803; year ending Jan. 20, 1891, gross, $358,918; net, $180,755; year ending Jan. 20, 1890, gross, $336,121; net, $176,027. Hon. .J.B. Grant, Denver, President. Denver Trarn-way.-Owns 18 miles of cable road and 35 miles of e~ctric railway in the city of Denver, Col. Full abstract of the consolidated mortgage was in CHRONICLE, V. 52, p. 354. (V. 52, p. 350, 352.) Detroit Mackinac & Marquette Land Grant Bonds.-Owns ..about 11300,000 acres of land in Northern Michigan./ along the line of ~the Detroit Macldnac & Marquette RR., which roao. was sold in fore..elOBure October 20, 1886. The land· grant bonds retained their _lien ,.apon the lands covered by their mortgage. The bondholders received https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ------- ' J. & J. Phila., 226 Bo. Third St. July 1, 1898 J. & J. N. Y., Taintor & Holt. Jan. 1, 1908 Nov. 1, 191<) M. & N. New York Agency. J. & J. N. Y.,Maitland,P. &Co. Nov. 16, 1911 J. & J. Denver. July 1, 1908 J. & J. New York City. Jan. 1, 191-0 A. & 0. Oct. 1, 1911 J. & J. N.Y.,FarmersLoan&Tl' July 1, 1938 Q.-J. Peoria, Ill. Jan.. 4, 1892 Q.-F. N. Y., Offioo, 16 Br'd St. Feb. 1, 1892 1 <Jo's option Q.-J. do do M. & 8. do do Meh. 1, 1910 Q.-F. N. Y., Office, 44 Wall St. Feb. 1, 1892 Q.-J. N. Y.., Offiee, 340 3d Av. Jan. 15,1892 F. & A. N. Y., Central Trust Co. Aug. 1, 1899 J. & D. N. Y., Office, 340 3d Av. June 1, 1896 Q.-F. Co. 's Of., Lowe1:)., Mass .. Nov. 16, 1891 Q.-J. N. Y., West. Umon Tel. Jan., 1892 May 1, 1895 M. & N. do do F. & A. N.Y.,M,etropolitanTr.Oo· Feb.19, 1891 J. & J. N. Y., John Paton & Co. Jan. 1, 1910 Q.-J. N. Y., West. Union Tel. Jan., 1892 . . . . . N. Y., Pier 1, North Riv. Oct. 20, 1890 J. & J. N. Y., First Nat. Bank. July 1, 1901 M,eh. 15, 1891 ..... St. Louis, Office. Q.-F. N.Y.,H.B.Hollins; St.L. May 1, 1919 a f>onus of 35 per cent in common stock of the Duluth South Shore & A.tlantic RR. Co. in March, 1888. Lands are free from taxation till 1895. James McMillan, Detroit, President. (V. 46, p. 320, 573; V. 54, p. 42.) . Detroit Union KR. Depot & Statlon.-Own.s terminal property at Detroit, Mich., including 312 miles steel traek, freigb.t house, grain elevator, etc., all except the elevator leased to the Wabash, the Flint & Pere Marquette and the Detroit Lansing & Northern RR. companies. The lessees pay taxes and insurance and $94,426 as rental; net earnings of elevator averaged $25,000 during the years 1883 to 1890, inclusive. In year 1890 receipts were: from rentals, $89,411; elevator, $27,010; total, $116,421; expenses, including taxes, insur· ance and expense of elevator, $29,176; net income, $87,244. Stock authorized, $2,000,000; outstanding, $1,650, 000; par, $100. James F. Joy, President. (V. 53, p. 59.) Distilling & Cattle Feedln~.-This company, incorporated under the laws of the State of Illinois, owns distilleries as follows: In Illinois, 27 (of these 6 in Chicago and 14 in Peoria) ; Ohio, 16 (of these 8 in Cincinnati) ; Indiana, 11; Missouri, 7; Wisconsin, 2; Minnesota, li· Kentucky, 7; Nebraska, 2; Iowa, 1; New York, 2; California, 2; tota distilleries, 78. Also one alchohol works in Illinois and 3 in Iowa. Stock listed on New York Stock Exchange in September, 1890. Additional capital stock for $3,498,400, makmg total amount listed, $35,000,000, was issued in June, 1891, in connection with the purchase of the Shufeldt and Calumet distilleries at Chicago. Dividends, whieh had previously been 18 per cent monthly, were in J"une, 1890, increased to 14 per cent monthly, in October to 3a per cent, in November to 12 :per cent; the dividends from December, 1890, to July, 1891, inclusive, bemg at that rate; dividends then changed to quarterly, and in October paid 112 per cent and January, 1892, 112 per cent. See V. 53, p.21. Report for 1890·91 was in V. 52, p 641. For the fl.seal year ending March 31, 1891, the earnings from operating plants were $1,944,265; from contracts, $106,159; from rentals, $5,550; from interest, $37,• 783; total earnings, $2,093,759; expenses paid, $469,731; monthly dividends $1,298,255; surplus for year $325,771; cash and cash assets on hand April 1, 1891, $2,069,079. President, J. B. Greenhut, Peoria, Ill. (V. 51, p. 345,425; V. 52, p. 641,974; V. 53, p. 21.) Edison Electric Illurnlnatlng.-Listed on New York Stock Exchange Ma_y, 1889. See application in V. 50, p. 906. Stock was increased to $4,500,000 February, 1891. Dividends from 1885 to .August, 1891, both inclusive at rate of 1 per cent quarterly. In January, 1891, an extra dividend of 5 per cent was paid in certificates convertible into stock whenever the company mcreases its stock beyond $4,500,000, or redeemable in cash at the option of the company. These certificates will receive same dividends as the stoek. October, 1891, paid 3 per cent. In January, 1892, it was proposed to issue debenture bonds, but an injunction was granted. In 1890 gross, $488,595; net, $229,079. against $124,032 in 1889. Annual report for 1890 was in V • 52, p. 202. Spencer Trask, President (V. 50, p. 71, 771, 906; V. 52, p. 126, 202, 974; v. 53, p. 95; v. 54, p. 119.) Edison General Electrlc.-Organized in April, 1889 and owns stock of sub-companies as follows : Edison Electric Light, $1,400,000, out of tot.al issue of $1,500,000; six manufacturing companies' entire stock, $2~90,000 (see V. 50, .P· 244) ; Sprague Electric Railway & Motor, $1,$92,000, out of total issue of $1,400,000. The Edison Eleotric Light Company owns all the Edison patents for incandescent electric lighting in ]S"orth and South America. It grants exclusive licenses for specified territory to loeal companies, and on October 31, 1889, it held $1,749,573 of stocks and bonds of different companies acquired. !or such licenses. See detailed statement in CHRONICLE, V. 50, p. 244 and report for 1889·90 in V. 52, p. 163. In July, 1891, Judge Wallace of the United States Circuit Court filed an important opinion, sustaining Mr. Edison's patent for incandescent lamps. See particulars in V. 53, p. 95. The case will probably be appealed. Dividends from January, 1890, to February, 1892, both inclusive, 2 per cent quarterly. For year ending October 31, 1890, profits, not including those of the Edison Electric Light Company were $2,098,116;. general expenses, $206,679; dividends, $665,314; surplus, $1,126,123. President, Henry Villard. (V. 51, p. 875; v. 52, p. 163,164,204,498,762; v. 54, p. 119.) Equitable Gas Light Co. of Ne-w York.-Incorporated March 9, 1882. Owns three blocks .between Thirty-ninth and Forty-second Streets, First A venue and East River; also 32 lots between Fiftyeighth and Fifty-ninth Streets and Tenth and Eleventh avenues, and four lots southeast corner Eleventh A venue and Fifty•ninth Street. Total assets January 1, 1889, $6,185,870, including· mains about 114 miles; gas works valued at $2,501,952; real estate at $1,190,922. In 1888-89 $1,000,000 new stock was issued. Dividends-In 1886, 512 per cent; from 1887 to Jan., 1892, both inclusive, at rate of 8 per cent yearly. (V. 48, p. 129.) Erle Telegraph & Telephone Co.-This company owns 65 per cent of the Cleveland Telephone Co., 70 per cent of the Northwestern Telephone Exchange Co., and 70 per cent of the Southwestern Telegraph & Telephone Co., operating in the States of Ohio, Minnesota, North and South Dakota, Texas and Arkansas, under licenses from the American Bell Telephone Co. Stock, $5,000,000, of which $200,000 is in the treasury. Par value of shares, $100. No bonds or indebtedness of any description. , Dividends have been-In 1883 (6 months) 114 per cent; in 1884, 2¼; 1885, lg; 1886, 2¼; 1887, 212; 1888, 4; 1889, 334; 1890, 4; in 1891. February, 1; May, 1; Aug., 1; Nov., 1. Transfer office, Lowell, Mase• For the ye_ar ending March 31: 1891, the three companies controlled report groiS. mcome of $791,063, gross expensea, including dividend.a 146 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis INVESTORS' SUPPLEMENT. . Jtut Oit11 Limiu _ _ _ (VoL. LIV.. MAP OF THE MINN~APOLIS, STREET RAIL W.A.Y SYSTEM PROPERTY OF .MINNEAPOLIS STREET RAILWAY COMPANY, Lines ln; operition - - - - - • Lines proje·ete.d, •--••••••• : HIHlJIB. :i JANUARY, 1892.] 147 MISCELLANEOUS STOCKS AND BONDS. Subscriber• -will comer a great Cavor by giving immediate notice oC any error discovered in tbel!le Tables. MISCELLANEOUS. INTEREST OR DIVIDENDS. Bonds-Princ1Date Size, or Amount pal,Whcn Due, For explanation of column beadings, &c., see notes on of Par Outstanding Rate Per When Where Payable, and by Sto~lc:Y-Last :first page of tables. Bonds Value. Cent. Payable Whom. D1v1dend, Lehigh Ooal & Navigation-Stock ........................... ---· lstM., canal, 6,030acres coal and76m. L. & 8. RR .... r 1864 1st mort., Leh. & Sus. RR. Mauch Chunk to Easton . ... r 1867 2d M. on Can. Coal & RR. and 1st M. Nant. RR., 26 m .. c* 1867 Cons. 3d M. Canal, Coal & 122 m. RR.; 2d M. 26 m. RR .. 1871 Greenwood, 2d on 1,254 acres coalland (ext'nded,'77) .. r 1872 General mort~age fot $15,000,000,§old ................ r 1884 Lehigh re Wilkes '1·e Goal-Leh.Coal& av.M.,f, assumed. 1867 Le i~b Coal & Navigation mort.convert, gol ,assumed .. 1869 Sterling loan, sinkini fnnd, drawn at 100 ............... c 1874 Consol. mort. ($6,11 ,000 income beld'by Cent. N . .J.) .c 1875 Sundry real estate morts-ages ........................... c --·· 5s of 1912, cumulative sinking fund (not drawn) ....... c 1888 Income" B" bonds not cumulative, b~ld by Cent. N ..J. ...... Madison S{uare Garden-1st mortgage, fold ............ t•·* 1889 Man. Beac Hotel re Land-Gen. M. for$ ,500,000 gold.c* 1890 Maryland Goal-Stock ...................................... .... 1st M., drawn at 100 (s. f. bas retired $110,000) ...... c* MaxwellLd. Gr.-Pr'rlienM.g.,red. atlOO (orllOatmat.)c isss Income M.(.£987,100 pledged under prior lien M.) .. ·.... 1880 Metropolitan Tel. reTeleg. Oo.-lst M., g., s.f. (notdr'n) .c&r 1888 Mexican Telegt·aph-Stock ................................... Minneapolis Street Ry.-lst mort., redeem. yearly at 105. isso Mortgage, 1883 ............................................ ---1st consol. mortgage, gold.~ .......................... c* &r 1889 Minnesota It·on Oo.-Stock ................................. .... Morris Canal-Stock, consol., 4 p.c. gu. 99 yrs. by Leh. V. .... Preferred stock, 10 p.c. guar. 999 yrs. by Lehigh Valley 1st mortgage ............................................. c '76-;85 $50 $14,315,700 Various 5,000,000 2,000,000 Various 1,843,000 500 &c. 1,000 2,466,000 1,000 643,000 1,000 2,785,000 500 &c. 500,000 500 &c. 638,000 .£200 1,110,000 1,000 11,500,000 235,646 2,872,000 1:000 2,353,000 1,250,000 1:000 500 &c. 1,300,000 100 4,200,000 1,000 140,000 500 3,000,000 £12,100 .£100 $1,000 $2,000,000 100 2,000,000 100 391,000 600.000 4;090,000 1:000 100 14,000,000 100 1,025,000 100 1,1.75,000 1,000 1,000,000 paid, $765,617; surplus, $25,446. For the same period the proportion of dividends received from these companies by the Erie Tel. & Tel. Co. was $208,469; dividends paid by the Erie Tel. & Tel. Co. (4 per cent) i192,000; surplus, $16,469. Gold & Stock Telegrapb Co.-Operated by Western Union Telegraph Company by contract for 99 years from January 1, 1882, at 6 per cent per annum on stock and bonds. IJJlnois Steel.-This comvany was formed May 1, 1889, by consolidation of. the Joliet Steel, Uruon Steel and North Chicago Rolling Mill c,ompanies. It owns 19 furnace stacks and in 1890 received 3,642,660 tons of raw material, and turned out 720,000 tons of pig iron, 36,000 tons of speigel, 733,000 tons of ingots, 509,000 tons of rails, 204,500 tons of rods, beams, merchants' steel and iron, etc. Stock is to be raised to $50,000,000 in order to increase the capacity of the works. Dividends: Cn 1890 paid 7 per cent; in 1891, Feb. 19, 5 p. c. in stock. The balance sheet on .July 1, 1891, was as follows: Assets-Cash in bank and on call, $782,366; accounts receivable, $2,924,262; bills receivable, $629,503; inventory, $7,098,282; stocks, bonds and investments, $4,268,297; Jllant and real estate, $15,833,041; total assets, $31,535,754. Liabilities-Capital stock, $18,650,635; bonds, $6,200,000; accounts payable, $2,238,560 ; bills payable, $3,312,591 : surplus, $1,133,960; total liabilities, $31,535,754. International Ocean Telearapb Co.-The Western Union Company operates the line by contract for 99 years from January 1 1882, paying 6 per cent per year on stock, of which it owns $1,623,100'. Iron Stealllboat Co.-Property consists of seven iron steamboats. Dividends since 1880-In 1881, 5 per cent; in 1882 to 1884 inclusive. nil; in 1885 and 1886, 3; in 1887, 212; in 1888, nil; in 1889, 2; in 1890, 2. In year ending Sept. 30, 1890, gross recepts were $336,287 • net $68,748; surplus over interest,$40,727, against $37,130 in 1888-89'. Laclede Gas Ligbt.-This St. Louis company was incorporated in 1857; in 1889 it came into control of all the other gas companies in St. Louis, through ownership of their securities. The Laclede's contract with the city of St. Louis, running to 1916, permits it to charge conl!!umers $1 ·25. The city sought to annul this contract, but it was sustained in the courts. A contemplated consolidation with the electric light companies in St. Louis was abandoned in June, 1891. Preferred stoclr is 5 per cent cumulative. The Central Trust Co. is trustee under the mortgage. See application to New York Stock Exchan~e in full in CHRONICLE, V. 49, p. 657. Net earnings from sales of gas to private consumers to August 1, 1891, increased over corresponding seven months of previous year, $64,691 07. Quantity of gas sold in August, 1891, was 54,365,700 feet, against 44,286,200 feet in August, 1891; increase, 23·7 per cent. For the dve months ending May 31, 1891, the total consumption of gas by private consumers was 351,621,300 feet, against 297,754,200 in 1890, yielding in net profit $232,425, as agamst $182,661, this being exclusive of the city gas contract, which expired May 6, 1890, when the city substituted electricity for gas. New York office, 40 Wall Street.-(V. 50, p. 71, 451, 590, 706, 771, 801,910; V. 51, p. 537; V. 52, p. 321, 498, 718, 899, 939.) Lebigb Coal & Navigation.-Owns canal from Coalport to Easton, Penn., 48 miles, and leases Delaware Division Canal, 60 miles. Also owns Lehigh & Susquehanna Railroad, Phillipsburg, N. J., to Union Junction, Pa., 105 miles, with branches, 56 miles, and leases for 999 years N esqueboning Valley Railroad, 1 7 miles; Trescow Railroad, 7 miles; other lines, 1 7 miles; total, 202 miles; but all these roads are leased for 999 years from 1871 to Central of New Jersey RR., rental being 3313 per cent of gross earnings, with a minimum rental of $1,414,400. The Central Railroad of New .Jersey assumed (in purchase of equipment) $2,310,000 of the gold loan due 1897, and the Lehigh & Wilkesbarre Coal Company assumed $500,000 of the gold loan due 1897 and $660,500 (all) of the convertible gold loan due 1894, additional to amounts 1n table above. The general mortgage of 1884 (trustee, Fidelity Insurance Company of Philadelphia) covers, subject to prior bonds, 7,460 acres coal land, 48 miles canal and 161 miles railroad, estimated in 1884 as together worth $25,278,000; bonds are reserved to retire all prior issues not assumed by other companies. Securities owned by company are put in balance sheet as equal to $3,876,806. · Dividends since 1880-In 1881, 2 per cent; in 1882, 4; in 1883, 512; in 1884, 6; in 1885, 512; in 1886, 412; i~ 1887, 4; in 1888, 412; in 1889, 5; in 1890, June, 212; December, 212; m 1891, May, 212. Report for 1890 was in CHRONICLE, v. 52, p. 320. 1888. 1889. 1890. Reuipls$ $ $ From railroads and Nesque. Tunnel. .. 1,804,783 1,816,436 1,766,174 Canals.................................... 43,201 48,494 45,518 Net profit on Lehigh Coal............... 358,968 204,563 148,049 Royalty on coal mined, &c...... ........ 46,712 83,771 105,308 n;J'!!}_:eceipts. - -.. - -................ 2,253,664 2,153,264 2,065,049 Interest, rentals, taxes, &c ............. 1,182,749 1,161,096 1,140,121 Less sink. fd. of 10 p. c. p. ton on eoal. 92,101 118,242 99 .. -,() Less deprec'n on coal improv'm'ts, &c. 282,002 105,911 1 . . ,033 Surplus for year......................... 696,812 768,015 718,445 Balance to credit of div'd fund Jan. 1. 646,745 766,691 893,513 Total. ................................ 1,343,557 1,534,706 1,611,758 Dividends ............................ (412)576,866 (5)641,193 (5)714,484 lilalance to credit of div'd fund Dec.31. 766.691 893,513 897,274 (V. 48, p. 249; V. 49, p. 530; V. 50, p. 2'7 4; V. 52, p. 320,) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 212 412 6 6 g. 7 7 412g. 6 g. 6 g. 6 7 6 5 ..5.g. 4 g. 114 7 6 g. M.&N. 5 g. 212 7 6 5 g. 112 2 5 7 M:·&·N. Q.-.J. M.& N. M.& N. .J.15 &.J. Q.-J. F. & A . F. & A. A. & 0. ..... Philadelphia, Office. Q.-.J. do do Q.-F. do do .J. & D. do do & D. .J. do do F. & A. do do Q.-F. do do .J. & D. Phila., L.Coal& Nav.Co. M.& S. do do M.& N. New York and London. Q.-M. do do New York and London. M.&N. do do Nov. 25, 1891 .July 1, 1914 Feb. 1, 1897 Dec. 15, 1897 .June 1, 1911 Feb. 1, 1892 May 1, 1924 Dec. 15, 1897 Sept. 1, 1894 May 1, 1899' .June 1, 1900' Nov.·1.;·i91z 1; M:·&-·N. N. Y., Merc:T;ust Co. Nov.· "i919' M.&N. N.Y.,Corbin,Bkii,192B. Nov. 1, 1940 New York, 35 'dway. .Jan. 4, 189~ do do Nov. 1, 1896 M: & N. .J. & .J. N.Y.,Lond.&Ams'dam. .Jan. 1, 1913 0 0 N. Y., is··cortiandt St. N. Y., Office, 37 Wall St. I N. Y., Farm. L. & Tr. Co. do do do do N. Y., Mills Buildinfi' Leh. Val.RR.Co., Phi a. do do do do Mai'Ci918 .Jan. 16, 1892 Nov. 1, 1910 Nov. 1, 1913 .Jan. 15, 1919 .Jan. 2, 1892 Feb., 1892 Feb., 1892 A.pr. 1, 1906 Lebigb & Wilkesbarre Coal.-This company i controlled by the Central RR. of New.Jerseythrough ownership of aSmajorityof the stock ; also owns $6,116,000of the consolidated mortgage bonds, which receive interest if earned, and $2,353,000 of the income bonds. Stock la $9,225,000; past due coupons of consols held by Central New .Jersey, $3,630,107. A sinking fund for bonds due 1912 is provided from sales of surface lands and from pay ment of 10 cents for each ton of coal mined on property included in the first lien; no drawings. The annual report for 1890 was in V. 52, p. 533, and showed total receipts of $8,516,716; net over operating expenses, $827,913, (agst. $1,446,192 in 1889) ; interest, bills payable, sinking fund charges, $963,134; balance, deficit, $135,220. Includedin operating expenses in 1890 was $116,191 for disasters at collieries. (V. 52, p. 5 3 3, 680.) 1'Iadlson Square Garden.-Owns in fee the block of land in New York City bounded by Madison and Fourth avenues and 26th and 27th streets, together with building thereon, containing theatre, amphitheatre, etc. Stock, $2,000,000. There is a second mort. for $750,000. Manbattan Beacb Hotel & Land (Limlted).--Owns the real estate and premises known as Manhattan Beach, with the Manhattan Beach and Oriental hotels, music amphitheatre, &c. Successor to the Manhattan Beach Improvement Co. whose property was sold in foreclosure in 1890. The general mortgage is practically a first lien, as the $500,000 prior bonds issued by the New York & Manhattan Beach RR. are provided for by the consolidated mortgage of the New York Brooklyn & Manhattan Beach RR. Co., this latter mortgage being guaranteed by the Long Island RR. Co. Stock, $2,000,000, of which $500,000 is preferred. Gross income of the property in 1890 $357,343; net, earnings about $62,637. Austin Corbin, President. Maryland Coal Co.-Controls 6,000 acres of land in A.lleghan7. and Garrettcounties, Md. In 1890 produced 357,117 tons of coa, against $268,438 in 1889. In 1890 net earnings over expenses and taxes were $96,304. In 1890 company purchased and canceled $200,000 of its stock. Dividends: In 1890 (December 15) paid 112 per cent-first dividend since 1876; in 1891, July 1, 1 per cent; in 1892, .Jan., 114 per cent. (V. 51, p. 645; V. 52, p. 238.) Max-well Land Grant Company.-Owns 1,714,764 acres in Colorado and New Mexico containing coal, timber and land flt for grazing and agricultural purposes. (See map in SUPPLEMENT of March, 1889, and prior issues.) The prior lien bonds are payable at 110 ali maturity, or redeemable at par from proceeds of land sales. In 1891 interest was defaulted and 1s now paid with prior lien bonds, or certificates convertible into prior lien bonds. Stock, £950,000. The management of the property, until the date when all prior lien bonds will be paid off, is placed in the hands of a board of trustees. In 1890 land sales 18,409 acres, :l'or $151,938. In 1889, sales 26,399 acres, for about $170,818. Assets in land and cattle were estimated at $14,020,000. President Board of Trustees, R. V. Martinsen, 46 Broadway, N. Y. See advertisement in CHRONICLE o:I' March 3, 1888. (V. 52, p. 463; V. 53, p. 223.) Metropolitan Telephone & Telegrapb Company.-Tbis company has exclusive rights under a perpetual license from the ·Bell Te.lepbone Company to the business o:I' furnishing telephone service within the citr. of New York and its suburbs, its territory having a radius of 33 miles from the City Hall in all directions. Its stock is controlled by the American Bell Telephone Company. A. sinking fund of one per cent purchases bonds, 1:1' possible, at 110, otherwise is invested in other securities. Trustee o:I' mortgage is Mercantile Trust Company. Western Union Telegraph Company owns $800,000 of the $3,000,000 stock (par, $100.) Dividends of at least 8 p. c. per annum (payable qua,rterly, January,) have been paid since 1882. (V. 51, p. 494.) Mexican Tel~rapb.-Company organized in 1878 under laws of. New York State. Has a cable from Galveston to Tampico and Vera Cruz, 738 miles; land line, Vera Cruz to Mexico City, 267 miles. Also direct cable from Galveston, Texas, to Coatzacoalcos, Mexico, 825 miles, duplicating the Mex. Tel. and Cen. & So. Am. Co.'s Gulf cable system. Has exclusive right :l'or 50 years for all foreign telegrams to Mexico, except telegrams to and from a neutral zone on the United States border 156 miles wide, between the Gulf and Pacific Ocean. Stock was increased to $2,000,000 in February, 1890. Dividends-In 1882 to 1886, inclusive, 8 per cent yearly; from 1887 to Jan., 1892, both inclusive, at rate o:I' 10 per cent per annum. Company owns 1,362 shares of the Central & South American Telegraph Co. Gross earnings in 1890, $419,691; net, $352,003, against $299,8'11 in 1889. J. A.. Scrymser, President, New York. (V. 50, p. 71, 245. Minnesota Iron Co.-Owns about 14,270 acres o:I' land and six iron mines in St. Louis and Lake counties, Minnesota. Owns also $500,000 stock, $400,000 1st mortgage bonds and $3,500,000 6 per cent income certificates of Duluth & -iron Range RR. Co. Dividends-In 1890, 3 per cent; in 1891, 6 per cent; in 1892, .Jan., 112 per eent. Offices, Mills'.Building,NewYork, and Chicago. (V.:54,p.119.) MtnneapoJls Street Railway.-( See Map.)-This company baa the exclusive right till .July 1, 1923, of operating street railways m the oity o:I' Minn~apolis. It bas in operation 87 miles of track, and owns real estate valued at $1,100,000, and equipment valued at $1,000,0p<?l all of which property is covered by the mortgage of 1890. (See :ruu abstract of deed in CHRONICLE, V. 52, p. 356.f The company has the right to run its cars by cable. electricity, horse power or otherwise. It owns the entire stock o:I' the Minneapolis Lyndale & Minnetonka Rail way Company, which joined in making the mortgage, and on whose property the mortgage is a first lien. On December 9th, 1890, the new electric road was opened for travel between the cities of St. Paul and Minneapolis. The Minneapolis Street Railway Co. receives one-hall of INVESTORS' SUPPLEMENT. 14 8 [VOL. LIV, Subscribers urlll conCer a Arreat Cavo r by giving llnmedlate notice oC any error discovered In these Tab les. MISCELLANEOUS. Date Size, or INTEREST OR DIVIDENDS. Amount Bonds-Prlnotpal,WhenDue. For explanation of column headings, &o., see notes on Boonfds Vpalaure. Outstanding Rate Per When Where Payable, and by Stocks-Last :first page of tables. ,______ Cent. 1 National Cordage-Common stock.... .. ................... Preferred, 8 per cent, cumulative . . . . . . . . . . . . . . . . . . . . . . . . National Lea<l Oo.-Stock, common........................ Preferred stock (7 per cent, cumulative)...... .. ......... Debentures........................................... .. ... National Linseed Oil-Stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . National Stm·ch-Common stock ($5,000,000)............ 1st preference stock, cumulative, 8 p. cent ($3,000,000) 2d preference stock, cumulative, 12 p.oent ($2,500,000) 1st mortgage, gold (for $4,500,000)...................... New Oentral Ooal-Stook... . ..... ............ ............ ... . .. . . .. . . .. . . .. . . .. . . .. . . .. . ... . ... . 1890 . .. . $100 $10,000,000 100 5,000,000 100 15,000,000 100 15,000,000 .... 100 100 100 100 1,000 100 100 New Englan<l Telephone cf: Telegraph-Stock................ . .. . Bonds, 1st and 2d Series, each $500,000 ................ o '89-'90 1,000 1,000 Bonds, 3dSeries, subject to call after .April 1,1901,at 102 1891 1,000 New England Te1·.-lst M., $800,000, g., drawn at 110 .. c 1889 1,000 Newport News Shipbuilding cf: I?1·y Dock.-lst mortgage .. 1890 1,000 Ches. Dry Dock & Construct10n 1st mortgage...... ...... 1887 1,000 N. Y.MutualTel.-Mutual Un. Tel. 1st M., g.,gu., notdr'n.c 1881 100 N. Y. cf: Perry Ooal cf: Iron Oo.-Stock....................... . . 1st mortgage, gold, sinking fund-not subject to call .. c 1890 1,000 50 N. Y. cf Texas Land (Limited)-Stock........... ............ . .. . 100 North .A.me1·ican-Stock for $50,000,000.. . . . . . . . . . . . . . . . . . . . North Hiidson Oounty ( St1·eet) R'y-Cons. M. ($3,000,000) c* 1888 · 1,000 100 Northwest Equipment-Stock...... . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 50 No1·thweste1·n Tel.-Stock, 4 rising to 6 p.c., guar. West.Un. . .. . 1st mort., sink. fund, bonds not drawn, interest guar.c" 1874 500 the earnings of this road by virtue of its ownershi;J.) of the portion of the line situated within the city limits of Minneapolis. The earnings for two years in comparison have been: For 1891 gross, $1,031,388; net, $460,098 ; for 1890 gross, $793,064; net, $259,822. Capital stock, $5,000,000. Control vested in same interest as St. Paul City Railway Uompany. The increase is largely the result of the opening of thP- electric road between Minneapolis and St. Paul. J. Kennedy Tod & Co., fl.seal agents, New York City.-(V. 52, p. 350, 356, 534, 642 ; v. 53, p. 21.) It.lords Canal,-Leased April, 1871, to Lehigh Valley RR. for 999 years. The lessees assllllie bonds and scrip, and pay 10 per cent per annum on preferred stock and 4 per cent on consolidated stock. In 1889 the Lehigh Valley ceased operating the canal, which will hereafter be used for water supply. (3ee V. 48, p. 100, 159.) National Corda~e.-Organized under the laws of the State of New .Jersey for the importation of hemp and the manufacture and sale of ,cordage. It has acquired in fee the cordage properties of L. Waterbury .& Co., of Brooklyn, N. Y., the Elizabethport Corda~e. Company of New .Jersey, the Xenia Twine & C~rdage Company of Onio, J. Rinek'~ Sons ·Of Easton, Pa., the Akron Twrne & Cordage Company of Ohio, William Wall's Sons and the Tucker & Carter Cordage ComJ?any, both of Brook:lyn. Besides the above the company acquired m 1891 the eleven mills in Canada, the Sewell & Day Cordage Co. of Boston, the Boston •Cordage qo., the Standard C(?rdage Co. of 1?osto1?-, the Day Cordage Co. ,of Cambridge, the Wm. Deermg & Co. Twme Mills, Chicago; the Field -Cordage Co. of Xenia, Ohio; the Miamisbur~ Binder Twine & Cordage -Co., Miamisburg, Ohio; the Middletown Twme & Cordage Co. Middletown, Ohio; the Galveston Rope & Twine Co., Galveston, Tex. ' In ad<µtion l eases t~e Victor~a Cordage Company of Dayton, Ky., of H. .R. Lewis & Co., of Philadelphia, and Randall, Goodale & Co., of Boston. The preferred stock is 8 per cent cumulative, and has preference as to principal as we~ as dividends. No mortgage or bonded debt can be •created except with the consent of 80 per cent of the preferred stock. ..See V. 52, p. 204, 2_7f!. Dividends on common stock : In 1891, 9 ; in 1892, Feb., 2¼. D1v1dends on preferred: In 1891, 2 per cent quarterly· in 1892, Feb., 2 per cent. President, James M. Waterbury. New York -Office, 132 Front Street. (V. 52, p. 204, 279, 642, 899; V. 53, p. 289, ~25; v. 54, p. 34.) Natio nal Lead Company .-This company was organized under ·the laws of New Jersey on Dec.8.1891, as successor to the National Lead Trust. It controls 26 extensive plants in different States for the 'ID.anufacture of white lead and other products. The company has $30,000,000 capital and $3,000,000 of 6 per cent ::JO-year debenture bonds. The preferred stock carries 7 per cent dividends per annum, to be cumulative. About $2,500,000 of the debenture bonds were to be used for workino- capital in carrying on the various enterprises c;>f the Trust. See V. g3, p. 156, 290, 640, 880. The report of President W. P. Thompson for the year ending Jan. 31, 1.891, (CHRONICLE, V. 52, p. 237) gave the Trust's assets as follows: Plant, $17,992.989; other investments, $459,235; net working capital, $5,765,414; other net assets, $1,142,486; total, $25,360,124, against $ 22,361,900 on Jan. 31, 1890. Net earnings in year 1890-91 were $2,028,552. First dividend (50 cents per share) payable .April, 1891; .July ¼ of 1 per eent; Dec., 30c. per share. Price of certificates-In 1889, 17@35; in 1890 1418@24¼; in 1891 14:\!@2118; in 1892 to Jan. 22, inclusive, 187s@21. (V. 50, p. 206; v'. -52, p. 23'7; v. 53, p. 156, 290, 640, 880.) Nat ional L inseed O ll.-This company, incorporated in 1890 ,under the laws of Illinois, has acquired all the property of the Linseed ~il Trust, co;nsisting ~f the re_a~ estate, machinery, patents, etc., of 52 ,oil works s1tu~ted . m 42 ~ities of the United States, including -Chicago, St. Loms, Minneapolls, etc. Its product is both linseed oil and oil cake-used for stock food and fertilizer-and it is said to employ in t he manufacture of th~se from _6<? to 70 per cent of the country's annual crop (of ten to thirteen nnllion bushels) of flaxseed. Fiscal year ends June 30. Report for 1890·91 was in V. 53, p. 223, showing net loss from operations of $20,462. After writing this off and paying dividends Nos. _10, 11? 1_2 and 1~, aggreg~ting .$?20,000, the company had ~5?,294 m undivided earnmgs and its origmal capital intact. In year endmg June 30, 1890, net earnings were $1,201,405, or equal to 6 ·67 J)er cent on stock. Stock listed in New York in Sept., 1890. Dividend tu 1890 2 per cent; in 1891, Feb., 1; May, 1; Aug., ¼ of 1 per cent. President, Alexander Euston, Chicago, Ill. See full statement in CHRONICLE, V. 51, p. 348; V. 53, p. 22 3 . N a t io nal Starch.-Incorporated in February, 1890, under the laws of Kentucky, and owns properties capable of producing from 230 to 240 million prounds of starch yearly. The twenty concerns whose plants trade marks, patents, business and good will it purchased were located in the States of New York, Ohio, Indiana, Illinois, Iowa and Kansas. The preferred stocks have preference as to principal as well as divi<dends. The bonds were issued at a rate not exceeding 75 per cent of the company's real estate. The good will of the concerns, &c., is represented by the common stock. On Sept. 22, 1891, there were in the --company's treasury $549,300 common stock, $780,600 first preferred and $653,200 second preferred, and $1,163,000 first mortgage bonde Dividen4s c;>n preferred stock have been paid in full to date; commo~ stock paid m 1891, March, 1 per cent. Hiram Duryea, President. New York office, No. 29 Broadway. N e ur Central Coal (Md.).-The an nual report for 1890, in V. 52, 'P• 202, showed net profits .for year of $47,082, against $ 6,108 in 1889, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis m ---2¼ 2 .... ...... .... Payable Whom. Dividend. - Q.-F. N. Y., 132 Front Street. Feb. 1, 1892 Feb. 1, 1892 Q.-F. do do ..... . ..... 18,000,000 50 o. Q:..:.:.F. 4,450,700 1 Q.-M. 2,219,400 4 M.& N . 1,846,800 6 J. & J. 3,337,000 6 g. M.&N. 5,000,000 1 ..... 10,394,600 75 o. Q.-F. 1,000,000 6 A. & 0. 500,000 6 A. & 0. 700,000 5 g. F. & A. 2,000,000 5 J. & J. ,T. & J. 600,000 5 1,978,000 6 g. M.& N. 3,000,000 1 ----600,000 6 g. M.&N. 1,500,000 (1) ...... 38,642,500 ..... ..&.. J. 1,800,000 5 J. 3,000,000 1½&3.,1ex Q.-F. 2,500,000 258 J. & J. 1,180,000 J. & J. 7 .......... ···-······ ·········· Chicago, Office. . ........ ......... . ....... Au~. 1, 1891 Mc .15, 1891 Nov. 2, 1891 Jan. 1, 1892 May 1, 1920 Feb . 4, 1891 N. Y., Office, 29 B'way. do do do do N.Y.,ChaseNationalBk. New York Office. Boston, 50 Pearl St. Boston.Bank of Repub. do do N. Y., Farm. L. & Tr. Co. New York. New York. N. Y., West. Union Tel. New York, 2 Wall St. do do N.Y.,J.S.Wetmore2Wall Apr. '99-1900 Apr. 1, 1906 Hoboken~N-.J. ·ist N.Bk. N. Y., Office, 36 Wall St. N. Y., West. Un. Tel. Co. do do Juiy · Feb. 1, Jan. 2, Jan. 1, (1) Feb. 1, 1909 Apr. 15, 1990 ~r.15, 1937 ay 1, 1911 Feb.10,1888 May 1, 1920 m 1; "i923 1892 1892 1904 and balance to credit of profit and loss December 31, 1890, of $248,654, against $213,321 December 31, 1889. Dividends since 1880-In 1881, 2 per cent; in 1882 and 1883, nil; in 1884, 1; in 1885, nil; from 1886 to 1888 inclusive, 1 per cent yearly; in 1891, 1. (V. 52, p. 202.) New- England Telephone & Telegraph.-This company does a telephone business in Maine, New Hampshire, Vermont and Massachusetts under license from the American Bell '.relephone Co. On January 1, 1890, it had 17,275 subscribers and exchange offices in 91 cities or villaises. Stock $12,000,000, of which, on January 1, 1890, $1,605,000 was m the treasury. The bonds were issued for improvements, placing the wires underground, etc. Dividends-In 1886 and since at rate of 3¼ per cent per annum, three dividends yearly being for 75 cents, and one (paid February 15, in 1891) for $1 ·25. In 1889 gross earnings were $1,255,570; net, $298,265. N eur England Terminal Co1npany .-A transportation line from Wilson's Pomt, Bridgeport or other points on Long Island Sound to New York. The mortgage covers aµ the property of the company, including real estate and dock property m New York. The New York & New England and the Housatonic Railroad by endorsement guarantee interest and the payment of $15,000 annually from 1890 to 1899, inclusive, for sinking fund, and $48,000, 1900 to 1909, inclusive. Stock, $200,000; par, $100. Neurp'o1·t Neurs Shipb uilding & D ry D ock Co.-Organized under an act of Virginia of January 28, 1886, as amended February 17, 1890. The stock is $2,000,000. The company owns sixty acres of land with water front, and has large plant, costing $561,954 for the dry dock and crib work, and over $2,750,000 for the other property, as stated to the Stock Exchange. The Chesapeake Dry Dock & Construction mortgage covers the dry dock as a first lien and the Newport News Shipbuilding & Dry Dock mortgacre is second to this. ~!i.stti,tement to New York Stock Exchange in 5HRONICLE, V. 53, p. Neur York Mutual T e l egr a p h .-Successor to the Mutual Union Telegraph Company. The stock carries dividends of 6 per cent per annum under a lease for 99 years from February 15, 1883, to Western Union Telegraph. The Western Union gives its collateral, trust bonds n exchange at par for the stock and bonds of this company. Neur Y o rk & P erry Coal & Iro n Co1n pany.-Owns 640 acres, controls 800 acres and leases 430 acres of coal and iron land in Hooking Valley region at Shawnee, Perry County, 0. Has five coal mines and -wo blast flll"naces. The assets, as per balance sheet on Jan. 22, 1891, wt1re $3,791,823. For full statement to New York Stock Exchange on Tan. 22, 1891, see V. 52, p. 206. Dividends-In 1887, 4¼ per cent; in 1888, 1. Office, 2 Wall Street, N. Y. {V. 52, p . 204, 206; V. 53, p. 21.) N cur York & T exa s Land,-This company took the lands granted to the International and Houston & Great Northern railroads, about 5,000,000 acres. On June 30, 1888, had 2,287,497 acres unsold. There !s $980,000 of land scrip receivable for lands at 75 per cent of its face. N orth A m erican Company .-This company was organized in 1890 under the laws of the State of New J ersey as the successor to the Oregon & Trans-Continental Company in liquidation. It purchased all the assets of the Oregon & Trans-Continental, among which were included on July 1, 1890 Northern Pacific common stock, $21,015,100; pr eferred stock, $12,743,000; consolidated 5s, $1,900,000; consolidated 5s, 50 per cent paid, $2,152,078. There was a considerable floating debt; but in November, 1890, this was largely reduced, as were also the securities owned, see V. 51, p. 680. Norecentstatementof assets is obtainable. The company is to operate in two special fields-one that of railroad ~anciern:ig; the other that of promotln~ e~ectri<_1 light and power enterprises It 1s expected to have close attillatwn with certain electric companies. See V. 50, p. 875. Authorized capital, $50,000,000, of which only $40,000,000 has been issued, this havino- been exchanged, share for share, for stock of the Oregon & Trans-Continental. Price of stock in 1890, 7@473s; in 1891, to Nov. 20, inclusive, 1134@2118. (V. 50, p. 875; v. 51, p. 52, 207, 241, 680, 715, 788, 830.) N o r t h Huds on County (Street) Kalhv a y . -Owns 32 miles of street railway and elevated cable lines, operated by steam and horse power, in Hoboken, N. J., and vicinity. Has outstanding $625,000 of 6 per cents due January, 1914, for which a like amount of consols is reserved. Remainder of consolidated 5s can omy be used for exte sions or new property. Stock, $477,400. In 1890 gross earnings were $641,005; net over operating expenses, $211,184; dividends, 8 per cent. N orthurest E qul p men t .-Owns railroad equipment costing $3, 000,000, leased to the Northern Pacific Railroad. The rental is 7 per cent per annum on the cost of the equipment and 10 per cent yearly to the sinking fund. October 1, 1898, when the lease terminates, the E quipment Company will be paid out of th.Is sinking fund the original cost of the eqmpment, which will then become the property of the lessee. See statement to New York Stock Exchange in full in CHRONI CLE, V. 50, p. 73. Stock paid in 1890 634 per cent; in 1891, 7 ; in 1892, Feb., 2 14. North-we ste rn Telegraph.-Owns 8,000 miles of wire and is leased to Western Union for 99 years, with guaranteed dividends, rising 1s p er cent a year to 6 in 1897 and afterward. The bond interest is guaranteed. JANUARY, 1892.] MISCELLANEOUS STOCKS AND BONDS. Subscribers will conCer a great Cavor by glvln&" Immediate notice 149 oc any error discovered In these Table ■ • MISCELLANEOUS. INTEREST OR DIVIDENDS. B onds-PrinclDate Size, or Amount - - - - - , - - - --:--- - - - - - - -- p al,When Due. Fer explanation of column headings, &c., see notes on of Par Outstanding Rate Per When Where P ay able, and by Stocks-Last first page of tables. ~onds Value. Cent. P ay able Whom. Dividend. Oregon I~!f'e°'i,ement Oo.-Stock, common ·.· .. . ............ .... Preferre stock , 7 per cent, non-cumulat1 ve ..... . ..... .. 1st M., g., s.f. 1 p.c. yrly .,red.atlOO ifnotpurch.at106 .c i sso Consol. mortgage for $15,000,000 . .. . ... . .. . . .. ....... c* 1889 Pacific Mail Steamsh~~Stock . .. . . •. ................... . . .. Penns11lvania Coal--S ock .. . ............ . .. . .... . ......... . Peoria Water-1st M., g., red. aft. Nov. 1, 1899, at 105.c* Philadelphia c o7:it'r;:,y-(Natural Gas) Stock .............. lstmortg age,s · · ~/und $250,000 yearly ,notdrawn. c* P. Lorillard Oo.-Stoc ($2,000,000 is 8 p.ot. pref. cum.) . ~ostal Telegraph Cable Oo.-Stock ... ................. ... ... oughkeepsie Bridge-1st mort., gold ... . ...... . ... : . ... . c* Debentures for funding coupons .... .............. . ...... Procter & Gamble.-Common stock ... . ..................... Preferred stock (8 per cent cumulative) . .... . ..... . ..... First M., gold, subject to call at 110 after ;July 1, 1900. c* Pullman Palace Oa1·-Stock . ......... . .. •............. : .... . ... . i889 .... 1888 .. .. .... 1886 1891 .... is90 Bonds, 4th series ................. . .. . ....... . . .. ... . ..... . is112 Quicksilver Mini ng-Common stock .. .. .. . ... . ........... . . ---- Preferred stock, 7 per cent, not cumulative .............. R'y Eq1tip. Oo. ofMinn.-lstM.,g., $50,000 red. ylyatlOO is9i 801,thern ti Atlantic Telegraph-Stock (guar. 5 per cent) .. .... $100 100 1,000 1,000 100 50 1,000 50 1,000 100 $7,000,000 ('!) 1:000 5,000,000 6,459,000 20,000,000 5,000,000 1,039,000 7,500,000 480,000 5,000,000 10,000,000 5,000,000 100 1,000 100 1,000 100 100 ··25 2,250,000 4,500,000 2,000,000 30,000,000 820,000 5,708,700 4,291,300 1,000,000 948,875 --100 -- Oregon Improvement Company.-This company controls the Paoifl.o Coast Steamship Company (owning $1,985,000 of its $2,000,000 stock) and operates five steamship lines running between San Francisco, Portland, Victoria, Sitka, Fort Bragg, San Diego, &c. Also owns all the securities of the Columbia & Puget Sound Railroad (narrow gauge), Seattle to Frankton, Wash., and branches, 43 miles; and the Pacific Coast Railway, Port Harford, Cal., to Los Aleros, 76 miles. It was also to own entirely the Seattle & Northern Railway, Anoortes to Hamilton, Wash., 56 miles; the Port Townsend Southern RR. under construction from Port Townsend to Olympia, Wash., 111 miles, of which 44 miles completed; the Olympia & Chehalis Valley Railway, Olympia to Tenino, Wash,, 15 miles. The total amount advanced to these latter companies to October, 1890, was about $1,200,000, and in consideration therefor the Oregon Improvement was to receive in addition to their stock land subsidies valued at $3,000,000 to $5,000,000, part of which have been sold. (See V. 51, p. 570, 747.) Company also has some 3,688 acres coal land between Cascade Mountain and Puget Sound. Default was made in Dec. 1890, on 1st mort. coupons, and J"oseph Simon was appointed receiver. A ohan~e in the management followed, Mr. W. H. Starbuck became President, the receiver was discharged, and the overdue coupons were paid. See V. 52, p. 351. In February, 1891, $4,000,000 consols were offered to stockholders at 70. In April, 1891, the company gave notice that it was prepared, as per circular of November, 1890, to receive its pref. stock in exchange for consolidated mortgage 5 per cent bonds on the basis of 105 and accrued dividend for its preferred stock and 90 and accrued Interest for the consolidated mortgage bonds. See v. 52, p. 321, 643, and references below. Of the 1st mortgage bonds given in table as outstanding, $486,000 are in the sinking fund, but draw interest. Under the consolidated mortgage for $15,000,000 (trustee, Farmers' Loan & Trust Co.), bonds are reserved to retire the preferred stock and the first mortgage bonds not in the sinking fund. See V. 49, p. 540. Dividends on preferred stock (issued in 1888)-In 1888, 312; in 1889 and since, at rate of 7 per cent yearly. On common-In 1883, 712; in 1888, 112; in 1889, 412; in 1890, in February, May and August, each 1 per cent; in November passed the dividend. See V. 51, p. 570. From Dec. 1, 1890, to Nov. 30, 1891 (12 months), gross earnings were $4,271,879, against $4,496,621 in 1889-90 ; net, $829,690, against $720,872. Fiscal year ends November 30. Report for 1888·89 was in V. 50, p. 481, this being the latest report published. EARNINGS OF ALL DEPARTl\iENTS. DeJ!_artmentsGross earnings. Net earnings. Pamfic Coast Steamship Company.Company's own vessels .... . ..... . ....... $1,561,419 $142,530 Oregon Improvement Co.'s vessels.. .. . . 1,448,947 268,199 Paoifl.o Coast R ailway. ..... ......... .. ..... 185,376 8 6,319 Columbia & Puget Sound R ailroad.. ...... 382,258 172,244 Coal dep artment.... . .... . . . . . . . . . . . . . . . . . . 650,122 82,068 Wharf, steam colliers, etc.. .... .. . .. . .. . ... 133,532 34,205 General ex penses.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .... . Loss 62,337 ('!) 1 .. . . . N. Y., Mills Building. Aug. 1, 1890 Sept. 2, 1890do do 312 M.& s. J". & D. N. Y., Farm. L &. Tr. Co. D ec. 1, 1910g. A. & 0. do do Oct. 1, 1939' 1 Sept. 15, 1887 4 Q.-F. New York; i·B1:oadway. Feb., 1892 N. Y., Atlantic Tr. Co. Nov. 1, 1919• ~ g. M.& N. Pittsburg,820 Penn Av. Oct. 15, 1890;r: ·& :: ·D . N. Y. City, Mere. Tr. Co. D ec. 1, 1898 6 2 onpf. Q.-J". J"an. 1, 1891 N. Y. office; .ii5. B ' w ay . .. & .. A . ..6.g. F. Int. funded till Auf?. '92. Aug.· .i936· 1901 F. & A. N. Y. Office, 115 B w ay. 5 Yearly. N.Y.,A. M. Kidder&Co. Aug. 15, 1891 8 do do J"an. 15, 1892 2 Q.-J. 6 g. J". & J". N. Y., Mercantile Nat.Bk ;July 1, 1940 Q.-F. N. Y., Farm. L. & Tr. Co. F eb. 15, 1892 2 Aug. 15, 1892 Q.-F. do do 8 May, 1882 400. ..... . --- -······ ...... N. Y., Of. , 20 Nassau St. J"une 2, 1891· 1-14 New York. J"un'92to1901.. 6 g. J". & D. 212 A. & 0. N. Y., West. Union Tel. Oct., 1891 g 1; Philadelphia Company.-In 1887 the Chartier s Companr. wa&leased for 99 years at a rental which is now 24·8 p er cent of Philadelphia Company's net earnings monthly. The Philadelphia Company controls the natural gas production about Pittsbur~ and vicinity, owning or leasing_ jc0,582 acres gas territory and 697 miles of pipes. In year ending .oo.arch 31, 1891, o-ross earnings were $2,873,339 ; net, $1,148,163; surplus over dividend's (6 per cent), $698,163. On March 31, 1891, there was due for construction $528,000, p ayable $30,000 monthly. Ge_o .. Westinghouse, Jr., President, Pittsburg, P a . The ;January, 1891, dividend was passed.-(V. 49, p. 617; V. 50, p. 174.) P. Lorillard Company.-Inoorporated under 13.ws of New ;Jersey J"uly 1, 1891, and formed for the purpose of carrying on the tobaccobusiness of P. Lorilla.Jd & Co. in J"ersey City. Net pro11ts were reported: for 1887 $758,558; 1888, $235,377; 1889, $386,750; 1890, $558,960. Main office, ;Jersey City, N. J". · Postal Telegraph Cable.-This company ls successor to the Postal Telegraph Company and Post al Telegraph & Ca ble Company~ The old bonds took new stock for 35 per cent of their fa ce, and the old stock 5 per cent of its amount in new. Foreclosure suit begun by Farmers' Loan & Trust Company November, 1885, and sale took place J"anu- ary 15, 1886. Stock increased in 1890 to $10,000,000 for franchises, extensions, &o. A. B. Chandler, President, New York.· (V. 48, p. 533; v _ 50, p. 423, 703; v. 52, p. 239.) Poughkeepsie Bridge Co.-Owns a railroad bridge across the-Hudson River at Poughkeepsie, with approaches, 312 lniles ; complete<! iu December, 1888. Operated by Central New England & Western (which see), forming through line from Campbell H all, N. Y., to Hart- ford, Conn. The Dutchess County Railroad, to be built in 1891, from Poughkeepsie to Hopewell, 11 miles, will connect the bridge with the.• N. Y. & N. En~. system. V. 53, p . 96. In division of earnin~s with otherroads the Bridge Company is allowed a constructive mileage of 40, miles. In 1891 holders of $3,500,000 bonds funded their interest maturin"' February and August, 1891 and 1892, into 5 per cent debeptures, . re3.eemable in ten years, these debentures to take prefer ence of th& floating debt of $420,000, and to be secured by the coupons held in trust. See V. 53 1 p. 157. Capital stock, $5,000,000 (par value, $100) $4,250,000 of which is held by Delaware & New England, which company owns also the entire stock of the Central New England & Western. In ;January, 1892, it w a s reported that the Phila . & R eading and other railroads had obtained control (see V. 54, p. 159) , and bonds would be exchanged for 4- 5 p er cen ts guar an teed. Abstract of first mortgage (Mercantile Trust Company, trustee) in V. 45, p . 275. New York office, 115 Broadway. J"ohn 8. Wilson, President . (V. 52, p. 121, . 165,204,239,351,499,609,796,974; V. 53, p. 96,157 ; V. 54, p. 120.) Procter & Gamble Co.-This company was formed in 1890 under · the laws of New J"er sey to acquire and carry on the soap, candle, oils. and ~lycerine m anufa cturing business of Messr s. Procter & Gamble of ' Cinmnnati. The mortgage cover s a bout 67 acr es of land a djoining th& city of Cincinnati, tog-ether with the 29 factory building t hereon. Of the common stock $1,000,000 is not to r eceive dividends until 12 per cent has been paid on the remainder of the common stock. Dividend8 on common stock-In 1891, August, 8 p er cent. For year ending J"une Total 1888-89 .............. . .......... . . $4,361,659 $723,228 30, 1891, net profits w ere $601,031; deduct inter est on bonds, $120,000; dividend on preferred stock, $1801000; dividend on $1,250,000, -(V. 52, p. 81, 121, 165, 238, 321, 351, 428, 643.) common stock, $100,000 ; balance carried to surplus fund, $201,031. Pacific Mall Steamshlp.-The trans•Continental railroads give .Pulbnan's Palace Car Co.-The stock has been incr eas ed from to this steamship company a guaranty of $75,000 minimum per month to time to provide new capital, as wanted, and $ 5,000,000 newtor space taken in its steamers, in consideration of the maintenance of time stock was authorized by stockholders October 15, 1891 (V. 53 ,p. 570) , . agreed rates. In March, 1891, Congress passed a subsidy law, which. it ls supposed, will bring this company a considerable income. See v. 52, which is iuoluded in the amount in table. Dividends since 1876-From 1877 to 1880 inclusive, 8 per cent; from. p. 391. 1881 to 1883 inclusive, 912; from 1884 to Nov., 1891, both inclusive,. Dividends since 1880-In 18811 3¾ per cent; in 1885, 5; in 1886, 1 14; at the rate of 8 per cent yearly. in 1887, 1; in 1888 and since, Illl. Fiscal year ends J"uly 31. Report for 1890·91 was in CHROl'iICLE, V .,_ In October, 1891, the company bid for U. 8. Government contracts in 53, p. 601. carrying mails, but no result has yet been announced. INCOME ACCOUNT. Fiscal year ends April 30; report for 1890-91 was in V. 52, p. 830. 1887-88. 1888-89. 1889-90. 1890-91. 1888-89. 1889-90. 1890-91. . $ $ $ $ Revenue$ $ $ Atlantic lines.............. 807,012 777,435 683,488 697,291 Earnings (leased lines included) ....... 6,825,955 7,473,136 7,871,146:: Panama lines .............. 1,778,275 2,006,894 2,186,352 2,262,638 Patent royalties, manuf. profits, &c ... 1,477,341 1,387,825 1,901,173:. Trans-Paoifl.o line ......... 1,334,384 1,201,580 942,143 1,107,601 Bubstdies . . . . . . . . . . . . . . . . . . . 101,633 100,267 103,000 103,000 Total revenue . ...............•.... 8,303,296 8,860,961 9,772,324. Interest and dividends..... 16,712 32,138 17,094 33,463 DisbursementsMiscellaneous.............. 40,532 42,743 133,591 94,578 Operating expenses .................... 3,070,779 3,274,605 3,569,681 Paid other sleeping-car associations... 920,906 1,022,625 1,008,324 Total. .................. .4,078,547 4,161,057 4,065,668 4,298,571 COUP.On interest on bonds.............. 79,527 .. 65,600 Expenses ................... 3,638-510 3,666,162 3,555,118 3,495,650 Dividends on capital stock ............. 1,795,638 2,000;000 2,000,000 Repairs of oars in excess of mileage... 84,915 . .... .. . 139,49&. Net earnings . . . . . . . . . . . 440,428 494,895 510,550 802,921 Contingency account.................. . 100,000 100,000 ....... . No balance sheet is given in the annual report. George J". Gould, ---President. (V. 52, p. 391, 830, 832, 608 ; v. 53, p. 804). Total disbursements ............... 6,051,765 6,462,830 6,783,101 Net result ............................... 2,251,531 2,398,131 2,989,22& Penn ■ylvanla Coal.-Dividends since 1880-In 1881, 15 per cent; from 1882 to February, 1892, inclusive, at rate of 16 per cent yearly. -(V. 51, p. 494,535,570,719; V. 53, p. 570, 601.) Peoria Water.-Owns water works at Peoria, Ill., purchased from Quicksilver Mlnlng.-Owns quicksilver mines at New Almaden,.._ the city in 1889, on the agreement that they should be enlarged and Oaf. The preferred stock is entitled to 7 per cent per annum, nonimproved. See full statement in CHRONICLE, V. 52, p. 535. The mort- cumulative, and any surplus goes to the common and preferred equaJlyL · q,ge is for $2-,000,000, and of the bonds $295,000 are held to retlr• Fiscal year ends April 30. For year 1889·90 net income applicable te,. '1ividends was $105,928, against ~131.624 in 1888-8~. ··,teamount, of city water bonds. Stock, $1,000,000; par, $100. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis --- ---- INVESTORS' SUPPLEMENT. 150 LVOL, LIV. Subscribers w-111 confer a great favor by giving immediate notice of any error discovered in these Tables. MISCELLANEOUS. 'Or explanation of column headings, &c., see notes on first page of tables. Bonds- PrinciINTEREST OR DIVIDENDS. Date Size, or Due. Amount Rate per When Where Payable, and by pal,When of Par Outstanding Stocks-Last Bonds Value. Cent. Payable Whom. Dividend. Southern Cotton Oil-Stock ................ . ................ .... .. $100 100 Standard Oil Trust-Certificates . . ......... .. . . ..... . ...... . -·-Sterling Iron & R'y.-Mort. bonds, inc.,7 p. c., series "B.".c 1880 500 &c. ·Plain income bonds, 6 per cent .... . ................. . .. . c 1876 Sterling Mountain R'y.-lst mort. income, 7 p. c. guar. 1881 I ·e nn. Coal I. & RR. <:o.-Stock. ($1,000,000 is pf. 8% cum.) Tracy City 1st and 2d mortgages ......... . ............ . .. Consolidated mortgage .................................. South Pitts bur~ Purchase, 1st mortgage ............... . Alice Furnace o., Alabama, 1st mortgage ............ c+ Pratt Coal & Iron Co., Ala., 1st M., s. f., not drawn .... c• Birmingham, Ala., Div., con. M., If,·• s. f. 1%, not d'rn .. c* Tennessee Div. bds, gold, s.f. 112 %yearly, not dr'n .. . ex Terminal Railroad Association-First mort., gold ....... c* St. Louis Brid<fe & Tun. RR. 1st Eref. stock, guaranteed. 2d preferre stock, guarantee ......................... T~cl U!li~!!a.· or" st: Louis,·sioc1r; · · ·araiiieeii: ·. ·. ·.:: ~~ Texas Pac. Land Trust-"Certificates o~ropriet'y int'st" . Third .A.venue Ry. (N. Y.J-Stock ($5,000,000 authorized). ---- 1879 1881 1882 1882 1883 1887 1887 1889 ..... ---· 1879 .... .... ..... 1st mortgage, gold . ....... . ....... ·...... . . . .... . ......... c 1887 4 Philadelphia, Office. $4,000,000 Q.".::.::M. N. Y., 26 Broadway. 3 97,000,000 418,000 1 Feb. 1 N. Y., Office, 45 Wm. St. 1,000 495,575 .... Feb. 1 --------·· 1,000 475,674 1 N. Y., Office, 45 Wm. St. 100 10,000,000 4 on pfd. J."·&··J. N. Y., 4th Nat. Bank. 200 &c. .A.. & o. New York City. 170,200 6 1,000 M.& N. N. Y., Mechanics' Bank. 36,000 6 1,000 123,000 F. & A. do do 6 1,000 300,000 do A. & 0. do 7 1,000 M.&N. do do 705,000 7 6 g. J. & J. N. Y. Hanover Nat. B'k 1,000 3,460,000 6 g. A. & 0. N.Y.,4th NationalB ank 1,000 1,400,000 1,000 7,000,000 412g. A. & 0. N. Y., Central Trust Co. 100 2,490,000 3 J. & J. N. Y., Drexel, M. & Co. 100 3,000,000 do do 112 J. & J. 7 g. A. & 0. New York and London. 1,000 5,000,000 1,250,000 3 J. & J. N. Y., Drexel, M. & Co. ·ioo 8.761,731 ,;.;;,:·-;;or,. 2,000,000 6 100 5 g. J. & J. N.Y.,Farmers'L.&Tr.Co 1,000 5,000,000 M:-,.--,,_, Aug., ·1889 Dec. 16, 1891 Apr. 1, 1894 Oct. 1, 1896 July 7, 1895 Jan. 15,1892 Apr. 15, 1894 Nov. 1, 1901 Feb. 1, 1902 1892-1902 Nov. 1, 1903 Jan. 1, 1917 Jan. 1, 1917 Oct. 1, 1939 Jan., 1892 Jan., 1892 Apr. 1, 1928 Jan. 1, 1892 Nov.;·isin July, 1937 Depot Company of St. Louis, and of the Union Railway & Transit Com panies and •.rerminal Railroads of St. Louis and East St. Louis. It 11 composed of the following pro:prietary lines, which are the sole owners: The Cleveland Cincinnati Chicago & St. Louis, Louisville & Nashville, St. Louis Iron Mountain & Southern, Ohio & Mississippi, Missouri Pacific and Wabash. Capital stock, $1,441,200. The lease11 of the Bridge and the Tunnel are for the terms of their corporate existence, and were made July 1, 1881, to the Missouri Pacifio and the Wabash, bv which companies they were assigned to the present association. Under the lease the lessee guarantees 6 per cent on the Bridge Company's $2,490,000 first preferred stock, 3 per cent on ita $3,000,000 second preferred stock and 6 per cent on the Tunnel Company's $1,250,000 common stock. The Bridge Company's $2,500,000 common stock was held by the Mercantile Trust Co., with power to vote on it. The mortgage of 1889 (trustee, Central Trust Company) is for $7,000,000 bonds, of which $5,000,000 were paid for the properties and $2,000,000 reserved for enlargements, etc. In 1889 gross earnin~s were $1,741,914; net, $912,938. In 1890 gross earnings were $1,929,322; net, $1,123,306; total net, including rentals received, $1,236,866; rent• als paid, $680,202; interest, $236,226; improvements, $47,109; sur-• plus for year, $273,328. (V. 50, p. 276,351; V. 52, p. 680.) Texas Pacific Land Trust.-The certificates of this Trust represent the ownership of the lands formerly belonging to the Texas & Pacific Railway. The trustees of t}:le land trust are Messrs. Charles J. Canda, Simeon J. Drake and William Strauss, of New York and the lands received consisted of 3,450,642 acres and also $899,731 secured by purchasers' contracts. On January 1, 1891, there remained to the trust 3,341,162 acres of land, $447,067 deferred payments and $222,158 bills receivable. In 1890 there were sold 63,852 acres and 45 town lots for $184,879. Rentals received from grazing lands, $17,019. See Standard Oil Trust.-This company controls petroleum oil refin- a escription of lands in V. 47, p. 344. eries in all the principal Northern cities of the United States, and proThird A.venue Railway_,_N. Y,-This company owns a street duces about 65 per cent of the country's total output of refined oil. Also horse railway from Park Row, .New York City, via Third Avenue, to the controls oil wells in Pennsylvania, Ohio and West Virginia., and has Harlem River, 814 miles; and a cable road from Manhattan Street, pipe lines for transmitting its oil to tidewater. The trust certificates North River, to 125th Street, Harlem River, with branch 5¾ miles; are issued against a deposit in trust of the stocks in the various refining, total, 14 miles double track. A cable is to be laid on the Third .A.venue :producing and transportation companies controlled by the Trust. Div- line, and an increase of stock from $2,000,000 to $5,000,000 has been idends of 12 per cent per annum are paid. authorized to meet the expense. The work is under way, and is exSterling Iron & Railway.-The property of this company, in pected to be completed by May 1, 1892. Paid dividends of 11 per Orange County, N. Y. (and a few acres in Rockland), consists of 25,000 cent in 1889 and of 12 per cent in 1890. Dividends are payable May acres of land, with furnaces, &c., having a capacity of 15,000 tons of and November. In year ending June 30, 1891, gross earnings were pig iron per year and 712 miles of railroads, houses, &c. The company $1,647,781; surplus over interest, &c., $276,412, against $264,575 in endorses the $471,674 bonds of the Sterling Mountain Railway. stock 1889-90; dividends (12 per cent), $240,000; surplus, $36,412. (V. 51, is $2,300,000-par, $50, New York office, 45 William Street, New York p. 571,681; V. 52, p. 609; V. 53, p. 59.) Sugar Refi.neries-Suaar Trust SEE AMERICAN SUGAR REFlN Thomson-Houston Electric.-This is a Connecticut corpora. NG COMPANY. "' .tlon engaged at Lynn, Mass., in the manufacture of electric lamps, Tennessee Coal Iron & Railroad Company.-This com dynamos, outfits for electric railways, etc. On January 1, 1891, it had pany owns blast furnaces, coal mines, iron mines, foundries about 150 lines of electric railways, 87,000 arc lights and over 600,000 &c., and coal and iron lands in Tennessee and Alabama. The total area incandescent lights in use or under contract. Preferred stock is 7 per of mineral lands and rights owned by the company is 208,323 acres, of cent, cumulative. First dividend (4 per cent) was paid on common which 81,998 acres are in Alabama and 126,425 acres are in Tennessee. stock in February, 1891; total in 1891, 16 p. c.; in 1892, Feb., 4 p. o. In . . . C . . September, 1890, 60,000 shares common stock (par $25) were sold to Of t)?.e latter 58,135 5 lie m ocke and Green co-qnties, m the eastern stockholders at $50 per share. Preferred stock was increased in 1890 portion of the State on t~e borders of North Carolma. _See a ~ state- from $l,OOO,OOO to $4,000,000. ment of the property m V. 44, p. 245. For changes m the directory Series "A," "B," "C,, and "D,, trust certificates sold on the market in January, l89l, see Y- 5 2 , p. 41. , were issued to represent interests in certain stocks and bonds of local An offer by an_ Engll_sh syndwate to buy the company 8 Tennessee companies, and are entitled to the proceeds of the sale of the same property was . reJected m May, 1891. See V. ~ 2 , :P· 643, 7l8_. . when made. They are not a liability of the company, but represent The two mam b':)11-_d_ issues, known as th e Bir:mmgham :piviswn and distributions to its stockholders who have either been given the privlthe Tennesse~ Diyiswn bonds, are each a lie~ on their own prop• lege of buying them at less than their value, or, as in the case of series erty, as desc_ri~~d m the mortgage, and a _se_c<?nd hen on t1?-e property of "D ,, have received them as a dividend outright the other d1v1s1on. Of the Tennessee D1vis10n bonds 00 iven above as Fi t· d b F b 1 1891 $2 678 446. 8 t ·$ o . outstanding, $78,000 are held alive in the sinking fund. The Tracy City oa mg . e t e · • , ' , • oc~, 1 ,OOO,OOO, surplus, 1st and 2d mortgage 6s and the consolidated 6s due in 1901 are all ex- $6,922,533, guarantee :i,cc?unt, etc., $204,124, assets, $18,905,_106. changeable at par for bonds of the NashvHle Chattanooga & St. Louis Fiscal year ends Fepruary 1. ~nn~al report for 1890·9~/ w1t1?- bat Railway Company held by the Central Trust Company ance sheet, was _published at len0 th m V. 52, p. 60.8. The earnmgs · · . . · . 31 1891 $B for 1890·91 as ~1ven below embrace the transact10ns of the Boston Th e t Ot a 1 f un d e d d e) 1 t J anuary , , was •136 . , 2 00, and smkrng office only. - It 1s said the transactions of the branch offices would infunds held at same date amounted to $948,355, leavmg net debt $5,187,-1 crease these operations about 25 per cent. The profits as here given 8 ~: ·d d -0 t . · 18S 1 are those shown by the company's balance sheet before deducting divllVl _en s n common. 1~ 7, per c~n -• ant~one si~ce.. Qn pre- 1 dends. The "expenses, including interest, taxes, etc.," are merely the ferred m U~89, 8 per cent, m l890, January 1 , 2 o, the remammg l t 5 1I difference resulting from subtractina these profits from the earnings of 0 per cent be!ng taken by State a_s tax unde.r law now repealed.-(See V. the Boston office. 50, p. 72); m August, 1890, 4; m 1891, 8; m 1892, Jan., 4. \ 1889 90 1890 91 In calendar year 1891 net earnin 00 s, $659,100, against $791,800 in ·- · . - · 1 1890; surplus over charges, $227,100, against lf'360,800 in 1890. $ $ • Fiscal year ends January 31. See annual report for 1890-91 in Earnmgs .. _. ... · ··: ·· ·:···· ··· ······ ···· ·· ···· .. 8, 222 , 7 8 9 l0, 617 , 661 CHRONICLE, v. 52, p. 679. Expenses, mcludi. ng mtere_st., taxes, etc ... . .. 6,913,614 7,525,778 OPERATIONS AND EARNINGS. _ . . . _ . Profits, appllcable to dividends .....•. . ... 1,309,175 3,091,883 1887 88 1888 89 1889 90 1 ,o. 9 1. -(V. 51, p. 346,459,771,877; V. 52, p. 322, 607, 804.) Tons. Tons. Tons. Dividends-On common, in 1881, 2 14 per cent; in 1882, 25; nothing since. On preferred-In 1881, 914; in 1882, 6; in 1883, nil; in 1884, 8; in 1885, nil; in 1886, 2:\J.; in 1887, 3; in 1888, 6:\J.; in 1889, 3; in 1890, February, 3, 112; May 1,112; August 1, 112; in 1891, Jan. 2, J.19; June 2, 114. (V. 47, p. 49; V. 49, p. 50.) Railway Equiplllent Com1,>any oC l't.linnesota.-0wns equip ment costing over $1,500,000, which is leased to the Chicago St. Paul & Kansas City Railway Company at a rental which is to be more than sufficient to pay the interest on the bonds, to retire $50,000 bonds yearly at par and to redeem the balance of the issue at maturity in 1901. Lessee is to keep the property in repair. Stock pa.id in $996,500. Bonds offered by Maitland, Phelps & Co. in 1891. See advertisement in CHRONICLE of July 18, 1891. 1-'llver Bullion Certiftcates. - The silver bullion certificates dealt in on the N. Y. Stock Exchange represent ea.ch 1,000 ounces of fine silver bullion deposited with the Mercantile Safe Deposit Co. of New York City. They are subject to a storage charge of one cent per day per 1,000 ounces. On May 25, 1891, the So.fe Depos· Company reported in its possession in trust for outstanding certificates 5,219,591 ounces of silver bullion. Southern Cotton O11.-Tbis company is organized under the laws of the State of New Jersey, and owns eight crushing mills in as many cities of the South with an aggregate capacity of 1,600 tons of seed per day; also owns 6 refineries, etc. In 1889 paid 12 per cent. See statement to New York Stock Exchan£e in full m CHRONICLE, V. 49, p. 404. President Henrv C. Butcher.-lv. 49, n. 403, 404.) Southern & A.tlantlc.-Lines leased to Western Union and stock guaranteed by the rental, 5 per cent per annum. I Coal, output .......... 1,168,364 Coke, output.......... 329,987 Pig iron, output...... 109,160 Iron ore, output...... 107,750 $ Total net profits...... 626,975 Interest on bonds.... 263,748 Miscell. interest, &c.. 14,531 lJividends........... .. 98,300 1,375,577 456,605 200,750 126,271 $ 666,092 322,291 14,406 40,000 1,619,020 509,906 264,643 124,574 $ 781,300 351,484 22,243 80,000 1 58[;'~70 '498' 014 ·260'37s 109'508 $ 663 890 355'956 1s'033 so' 000 _ _ ,__ Total disbursem'ts. 376,579 376,697 453,727 453,989 Lalance, surplus..... 250,396 289,395 227,573 209,901 - (V. 48, p. 463, 526; v. 49, p. 403, 690; v. 50, p. 7: 2 , 276 , 353 , 620 628, 905; V. 51, p. 777; V. 52, p. 41, 571, 609, 643, 6'79, 718.) Terminal KR. Association oc St. Louis.-This company ac quired October 10, 1889, the lease .of the St. Louis Bridge and of the Tunnel RR. of St. Louis, and purchased the properties of the Union https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis , Tb.urber•Whyland.-0rg anized 1890 under the laws of the State ' of New Jersey to take over the entire property and to carry on the business of the firm of Thurber,Whyland & Co., manufacturing, importing and wholesale grocers and dealers in general merchandise. See V. 52, p. 121. Mr. Francis B. Thurber will act as President for five years and longer, if desired, and will receive no salary for any year till 8 per cent has been paid for that year on the preferred stock. No bond or mort:pge can be created without the consent of 90 per cent of the preferrea. stockholders. Complete statements of earnings are to be published semi-annually. For six months endin 00 July 31, 1891, net profits were $101,679. Average net profits of the ol'a. firm for ten years ending January 31, 1891, were $220,084; net protlt for year ending January 31, 1891, a.bout $241,000. Dividends: On preferred in August, 1891, 4 per cent. (V. 52 , P- 12 1.) Trow- Directory Printino- & Bookbinding.-This company is organized under the laws of tiie State of New Jersey to carry- on the business of the Trow Directory Company, which was establlshed in 1786, and of_Trow's Printing & Bookbinding Company, established 1-n. JANO.ARY, 1'392,] MISCELLANEOUS STOOKS _4.ND BONDS. i:n Subscribers -will conCer a great Cavor by giving llnm.ediate notice of" any error discovered In these Tables, Bonds-PrinoiMiSCELLANEOUS. IN'l'EREST OR DIVIDENDS. Date Size, or pal, When Due . .A.mount Rate per When For explanation of column headings, &o., see notes on of Par Where payable and by Stocks-Last :first page of tables. Bonds Value. Outstanding Cent. Payable Whom. Dividend. -- - - - - - - - - - - - Thomson-Houston Electric-Com. st'k ~10,000,000 auth.). ...... Preferred stock (7 per cent, oumula ve) . ................ ---Collat. trust bds, gold, red. at 105 after July, 1899 .... o" 1889 Thurber- Whyland-Common stock for $1,500,000 ........ ...... Preferred, 8 per cent cumulative ... ......... ............ ---Trow Directory Printing & Bookbinding-Stock common. ---· Preferred, 8 per cent cumulative ........ .. . ............ . . ---Vnion FerriJ-lst M.,&old, red. at 110 after Nov. 1, 1895. 1890 Vnited States Book- ommon stock . ................ ....... ·-·· Preferred, 8 -foer cent cumulative .... ... ..... .. ........ .. .... Debentures or $1,000,000 ................................ 1890 Vnited States E(JGress-Stock ........................... ..... Wells, Fargo & o. E:q.iress-Stock ...... .................... Western Vnion TelegraJJh-Stock......................... .. ...... ..... . ... Realest. bds.ifciilienon W.U.Bld~., N.Y.C.)s.f.(not.dr.). 1872 Debentures ( awn, surrender 1s optional) ........ c &r 1875 Debentures, sinking fund 1 per cent, drawn at 100 . ... c 1 1875 Collateral Trust bonds .................................. c* 1 1888 IV"?ling Bridgo,<T,r. Ry.-lst M. for$2,000,000 g'd .. Whitebrcast .Fttel--Stock, ($2,000,000 authorized.) . ........ . ... Gen. M., (now lst)g., s. f., $30,000,drawn at 110 .. c*&r. 1888 Iowa & ill. Coal 1st M., gold, guar., s. f., red. at 110 .. o.. 1890 0•1 1889 $25 $6,000,000 25 4,000,000 1,000 500,000 100 1,000,000 100 1,500,000 100 750,000 100 750,000 l00&c 2,200,000 100 1,250,000 100 2,000,000 100 600,000 100 10,000,000 100 6,250,000 100 86,199,852 1,000 1,219,000 1,000 I 4,920,000 £100&c 841,286 1,000 8,181,000 1,000 2,000,000 100 1,300,000 1,000 510,000 1,000 600,000 1826-two companies heretofore conducted separately. The parties in interest in the old companies and their associates retain the ownership of $500,000 of the common stock. There will be no mortgage on any of the property unless h ereafter ordered by a vote of 90 per cent of the stockholders, and the new company begins business without a debt of any kind The registrar of the stock 1s the Central Trust Company. The average net profits of the two concerns for the :five years ending December 31~ 1890, after providing for cost of materials, lalior, cost of renewals ana repairs, etc., as determined by public accountants, was $132,282. Profits for 1890 were $1431736. See advertisemet in CHR0N· ICLE of July 18, 1891. Robert W. Smith, President, New York City. 4 . ..... Boston. 312 J. & J . do 5 g. J. & J. N. Y., Holland Trust Co. Feb . ---4 F. & .A.. N. Y.O:ffice;ii6 ReadeSt. .. .... 2 Qu."ar. 5 g. M.&N. ..... ---- 6 2 4 114 7 g. 7 6 g. 5 6 g. 312 6 g. 6 g. .. .... ···- J. & J. M.&N. J. & J. Q.-J. M.&N. M.&N. M.& 8. J. & J. J. & D. Seerem. J. & D. J. & J. Feb. 15, 1892 Jan. 2, 1892 July 1, 19U~ Feb: 15; ·i892 New .Yori. New York City. Feb: i5; °i892 Nov. 1, 1920 N. Y., Cha~eNat. Bank. N. Y., Office, 49 B'way. N. Y., Office, 63 B'way. N. Y., Office, 195 B'way. N. Y., Union Trust Co. N. Y., Treasurer's Office. London,Morton,R.& Co. N. Y., Office, 195 B'way. Bank of N. Y. & Boston. N. Y., Officet 18 B'way. N. Y., .A.tlan ic Trust Co. do do "i"gfo" May 16, 1891 Jan. 15,1892 Jan. 15,1892 May .l, 1902 May 1, 1900 Mch. 1, 1900 Jan. 1, 1938 Dec. 1, 1939 Oct. 1, 1891 June 1, 1908 June 1, 1920 ......... ---------- 1888-89. 1889-90. 1890-91. $ $ $ Kevenues for the year .............. 20,783,194 22,387,029 23,034,321 Oper'g expenses, rentals, taxes, &c.14,565,153 15,074,304 16,428,746 Net profits .......... ............. 6,218,041 7,312,725 6,605,585 For dividends ....................... 4,309,520 For interest on bonds ............... 755,686 For sinking funds ................... 39,982 4,956,008 875,135 40,000 4,309,606 891,218 39,991 Disbursements- Total disbursements ............ 5,105,188 5,871,143 5,240,826 Union Ferry.-This company operates :five ferry lines between Balance of profits ........... . ... 1,112,853 1,441,582 1,364,759 New York and Brooklyn. Capital stock is $3,000,000. The mortgage Surplus July 1 (beiinning of year). 7,498,489 8,611,402 10,052,983 covers all the company's property, including 19 ferry-boats, real Balance of profits or year ......... 1,112,553 1,441,582 1,364,759 estate, etc. President, George W. Quintard. Tot.nom.sur.June30 (end of yr.) 8,611,402 10,052,984 11,417,742 United State~ Book Co.-Or"'anized in 1890 under the laws of The following table shows the property and business of the company New Jersey to manufacture and sel4books,magazines, newspapers, &c. at different periods : It acquired the entire business, stereotype and electrotype plates, Miles of Miles of No. of books, stock in trad~.J good will, copyrights, &c., of the John W. Lovell Year. Poles&C'bl's. Wire. Offices. Messages. Receipts. Profits. Company and the ~ational Publishing Company of New York; also, the stereotype and electrotype plates, copyrights and good will of the 1866-67.. 46,270 85,291 2,565 5,879,282 $6,568,925 $2,624,919 1869-70 .. 54,109 112,191 3,972 9,157,646 7,138,737 2,227,965 most popular standard works,12mos., and worn:s of :fiction published in this country by 13 New York :firms, 3 Boston :firms, 1 Albany firm, 2 1879-80 .. 85,645 233,534 9,077 29,215,509 12,782,894 5,833,937 Chicago firms and 3 Philadelphia firms. .Among the foregoing are in- 1889-90 . . 183,917 678,99719,382 55,878,762 22,387,029 7,312,725 cluded Dodd, Mead & Co., G. W. Dillin"'ham, George Munroe, Estes & 1890-91. .187,981 715,591 20,098 59,148,343 23,034,326 6,605,585 Lauriat and J. B. Lippincott. In 18§9 the sales by the publishing -(V. 49, p. 53, 469, 789; V. 50, p. 205, 245, 390, 392, 835; V. 51, p, houses included were 5,810,000 cheap paper books, 375,000 better 348, 492,830; v. 52, p. 164,428,902; v. 53, p. 368, 567. grade paper books, 4,075,000 cloth, 12mos., 1,375,000 standard sets in Wheeling Bridge & Terllllnal Co.-The company is constructcloth, 390,000 poets. The company began business .August 1, 1890, and for the five months ending December 31, 1890, the net earnings ing a railway bridge at Wheeling, West Va., about 8 miles of terminal were $151,056. It is expected, now that excessive competition has track connecting with Cleveland & Pittsburg, Cleveland Lorain & been removed,that the net profits for the year will be largely increased. Wheeling and the Wheeling & Lake Erie on Ohio side, and the BaltiPreferred stock has preference in respect of assets in case of liquidation, more & Ohio, Pittsburg Wheeling & Kentucky and Ohio River .Railway as well as m respect of earnings. Stock listed in June, 1891. Horace on the Wheeling side. President, R. H. Cochran. K. Thurber, Presid ent. (V. 52, p. 974.) Whitebreast Fnel.-Owns 2,797 acres and leases in perpetuity United State" Express.-In September, 1887, the stock was in- 980 acres coal land at Cleveland, in Lucas County, and at Marysville and Swan, M::.i.rion County, Iowa. .Also owns 10,500 acres coal land creased $3,000,000, raising:Jt to $10,000,000, and the Baltimore & Ohio Express was purchased. J.Jividends since 1880-From 1881 to 1887 in Bureau County, Ill., and leases for 17 years the property of the Iowa and Illinois Coal Company (19,804 acres coal and 360 acres inclusive, 4 per cent; in 1888, 5; in 1889, 5. In May, 1890, 2; in Nov., 2; surface) and guarantees its bonds. Organized as Whitebreast Coal in 1891, May, 2. November dividend passed. See V. 53, p. 754. Minin"' Co. January 16, 1876; reorganized as Whitebreast Coal Co . .April §o, 1886, and under present title July 2, 1887. See application to Wells, Far~o Express.-No annual reports or information. In New York Stock Exchange in full, CHRONICLE, v. 45, p. 676. The Iowa March, 1888, this company bought out the Erie Express of the New Illinois Coal Co.'s bonds are guaranteed as to both principal and York Lake Erie & Western Railroad Company. Dividends of 8 p3r cent interest. They are redeemable $20,000 yearly at 110, and on June 1, yearly have been paid for many years. (V. 46, p. 371; V. 48, p 172.) 1907, the whole issue may be paid at same rate. Report for 1890-91 was in V. 53, p . 367. Western Union Telegraph.-Chartered under the laws of New July 1 to Nov. 30, 1891, net earns were $37,179, against $69,247 in York State on .April 4, 1856, with capital stock of $500,000. On July 1890, partly owing to effects of strike in spl'ing and large sales of coal 1, 1869, its capital amounted to $41,063,100, having been increased for to railroads at low rates. the acquisition of new properties and by the payment of stock diviIn year ending June 30, 1891, gross earnings were $1,064,639; dends . In June, 187Jl. a scrip dividend of 15 per cent was paid to rep- net, $165,721; interest, $32,400; sinking fund, &c., $26,187; diviresent surplus to crecut of income account. On Jan. 19, 1881, was dated dends, $91,000; surplus for year, $16,134. In 1889-90 gross, $851,the grand consolidation, in which the Western Union raised its stock to 882; net_ $183,284 (against $164,950 in 1888-89); surplus over inter$80,000,000, giving par, or $15,000,000, for the stock and bonds of the est, sinkin.r. fund ($50,000) and dividends (7 per cent), $19,910. Presi.American Union, 60 per cent for old .Atlantic & Pacific stock in new dent, J.C. Osgood, 18 Broadway, New York. (V. 53, p. 367, 881.) Western Union, and a stock distribution of 4812 per cent to Western Union shareholders. In .April, 1886, the g,uarterly dividend was paid in scrip, and no more dividends were paid till July, 1887, when cash dividends were resumed at 1 per cent, afterwards increased to 114 per cent quarterly. NEW YORK AND BROOKLYN TRUST CO'S. In January, 1890, an extra dividend of 34 of one per cent was paid. The collateral trust bonds of 1888 (trustee of deed, Mercantile Trust (See CHRONICLE of January 23, 1892.) Company) are issued to retire an equal amount of stock and bonds of various telegraph and cable companies for the interest or dividends on which the '({ estern Union Company is liable, these when so retired to CAPITAL. DIVIDENDS. be held as security for the new bonds. COMPANIES. Profits Price of stock-In 1881, 77 (ex-certificates) @137 7s; in 1882, 7618 Period. .A.mount. Dec31,91 Par '90. '91. LaBtPaid. % @933s; in 1883, 71!\@88 14; in 1884, 49@7818; in 1885, 5312@813s; in 1886, 6018@8012; in 1887, 6712@81 7s; in 1888, 703s@8634; in 1889, $ $ 8115g@8834; in 1890, 7134@87; in 1891, 76'<1)8512; in 1892 to Jan. 22, .Atlantic .. ... . 100 500,000 706,204 ~.-J. 12 12 Jan., '92. 3 inclusive, 82@84~. .-J. 16 17 Jan.,'92. 5 (1) President Green, in his annual report for 1887-88, made explanations Brooklyn ..... 100 1,000,000 5,022,553 B1-mon 35 50 Jan., '92. 5 11,s to the nominal surplus of the company, which on July 1, 1891, Central. ...... 100 1,000,000 Continental .. 100 500,000 282,891 amounted to $11,417,741. (See CHRONICLE, v. 47. p, 440.) 25·· 25 .. Feb.,New. '92 (!) The estimated net earnings for the quarter ending September 30, Farm. L. & Tr. 25 1,000,000 3,905,728 *~.:.:.F. .-J. 6 568,967 8 Jan.,'92 . 2 1891, comvared with the actual results in the same quarter of 1890, are Franklin ..... 100 1,000,000 ..... 500,000 273,883 Hamil'n Tr ... 100 as below given: io· · io .. Feb., '92. 219 ,---Quarter endin~ Dec. 31.--- Holland . ...... 100 500,000 578,171 Q.-F. 3 6 Nov.,'91, 3 .A.ctual, 1890. Estimated, 1891. Kings County. 100 500,000 400,088 .... 3 J an., '92. 3 Knickerbock'r 100 750,000 341,225 $ $ Q.:.::-r. 240,113 100 500,000 8 Jan.,'92 . 2 2,000,000 Net revenue ...•.......................... 1,729,022 '92 . 21s i'I°:ni~ttit! ~: 30 1,000,000 241,387 io·· Jan., Ded1tctJan., '92. 5 Mercantile .... 100 2,000,000 1,614,871 J."&.J. $222,300 Interest on bonds...... ..... . $223,458 6 Jan., '92. 3 Metropolitan . 100 1,000,000 811,936 Semi-a. 6 20,000 Sinking fund.................. 20,000 6 6 F eb.,'92. 3 Nassau ........ 100 500,000 136,675 243,458 242,300 N.Y.Lf.I.&Tr. 100 1,000,000 2,147,583 J."&;i:>. 25 25 Dec., '91.10 1,757,700 N. Y. Seo. &Tr. 100 1,000,000 797,078 Net revenue.... . ......................... 1,485,564" New. Less dividend .................. (1 14 p. c.) 1,077,401 (l14p.c.) 1,077,405 I People's .... ... 100 1,000,000 662,992 Q..:.:.F. -·-· 3 Feb.,'92. 2 .... ···New. R'l Est. L. & T. 100 500,000 277,108 .... 680,295 State ... .... ... 100 1,000,000 710,525 Surplus for quarter............ ... . ...... 408,163 .... Feb.,'92. 3 .Add nominal surplus Oct. 1. ........... 10,733,832 12,269,190 : Title Gu. & Tr. 100 2,000,000 535,000 J."& ' J . 5 5 Jan., '92 . 3 Union ........ 100 1,000,000 4,002,519 Q.-J. 20 20 Jan., '92 . 5 12,949,485 United States. 100 2,000,000 8,253,327 J. & J. 25 25 Jan., '92.1219 :Nominal surplus Dec. 31. .... .. .... 11,141,995 . ... .... New. Washinirton .. 100 500.000 337.407 ... . Fiscal year enda June 30 ; report for 1890-91 WM in V. 53, p. 567. I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i~fil~~t ·o·· ·s·· ·s·· I BANK, GAS, INSURANCE AND HORSE RAILROAD STOOKS. Ui2 NEW YORK CITY BANKS. CAPITAL. SurplWI DIVIDENDS. CQJIPANJES, at latest Latest. Par Amount. dates.t Period. 1890. 1891. NEW YORK CITY FIRE INSURANCE COKPANIE8. CAPITAL. -- -- COMPANIES. $ $ America*.... 1~0 3,000,000 2,197,700 J. & J. 8 8 Jan.'92. 4 Am.Exch .. . 100 5,000,000 2,087,500 M. &N. 7 7 Nov.'91. 312 .A.stor Place* 100 250,000 269,000 ...6.. j-aii: ;92: ·s · · Bk.oIDep'sit 100 300,000 81,400 Bowery* .... 100 250,000 500,300 J. & J. ..i~i". 12 Jan. '92. 6 16 Jan. '92. 8 Broadway .. 25 1,000,000 1,691,300 J. & J. 16 Butch's'&Dr 25 300,000 306,200 J. & J. 8 8 Jan.'92. 4 6,100 Canal St.*... 100 100,000 ···,f· ···7·· lan:i92:·s~ Central. .... 100 2,000,000 543,200 :r:·&·i Chase .•..... 100 500,000 1,050,400 J. & J. 10 10 Jan. '92. 5 16 Jan.'92. 4 Chatham ... 25 450,000 820,500 Q.-J. 12 Chemical.... 100 300,000 6,723,000 Bi-m'ly. 150 150 Jan. '92.25 7 7 Jan. '92. 312 Citizens'. .... 25 600,000 440,400 J. & J. 15 Nov.'91. 5 City ..... ... . 100 1,000,000 2,422,000 M.&N. 15 Clinton* .... 100 300,000 45,400 '92. 3 ... ...6.. 6.. Jan, Columbia* .. 100 300,000 264,800 Jan.'92. 4 93,300 Columbus ... 200,000 5,000,000 3,423,500 :r:·&·j-: ·--s·· ·--s·· iaii: ;92: ·4 · · Commerce .. 7 7 Jan. '92. 4 Continental. 100 1,000,000 280,800 J. & J. 12 Feb. '92. 6 Oorn Exch.* 100 1,000,000 1,210,900 F. &A. 11 East River . . 25 250,000 144,500 J. & J., 8 8 Jan. '92. 4 East Side* .. 25 100,000 28,800 ...8.. lan:;92.··4·· 11th Ward*. 25 100,000 204,900 ~c&°·j-: ···s·· 72,000 100 250,000 ...6.. ...6.. j-itn: ;92. .. 100 150,000 313,900 :r:·&·i Fifth Ave* .. 100 100,000 849,400 75 J an. '92.25 100 Jan. '92.25 First ........ 100 500,000 6,805,700 ' ci.'.::.j-: · Fourth ..... . 100 3,200,000 1,798,400 J. & J. 7 7 Jan. '92. 312 74,700 14th Street* 100 100,000 ·12 .. ·12·· ,~91.' .6 .. Gallatin .... 50 1,000,000 1,511,700 34,500 .............. Gansevoort* 50 200,000 Garfield .... . 50 200,000 393,700 ... 6 .. Feb: i9z: ·s~ Germ'nAm. * 75 750,000 293,400 if:&·1.: ···6·· 12 12 May '91.12 Germ'nEx.* 100 200,000 543,100 May. 10 Nov. '91. 5 Germania*. . 100 200,000 493,300 M.&N. 10 -Greenwich*. 25 200,000 150,300 M.&N. 6 6 Nov. '91. 3 80,000 ....... .... .... .. Ha.Inilton* .. 100 150,000 16,900 ............... ...... ····· ··· ···-·· Harlem* ..... 100 100,000 H'rl'mRiv. * 100,000 9,300 :r:· ·&·i ...7.. ...7.. iaii:;02:·s~ 1,000,000 1,740,300 Hanover ... . 6 6 Nov.'91. 3 Home* ...... 100 100,000 103,000 M.&N. Hud River* 100 200,000 142,000 !lmp.&Trad. 100 1,500,000 5,383,800 :r:·&·i ·1,i" · ·i4 · · iaii: ;92.10 · · 4,200 [nter-State .. 100 200,000 Irving ...... 50 500,000 325,300 :r:·&°·i ···s·· ···s·· j-itu:i9z:T 10 Jan. '92. 5 Leather Mfr. 100 600.000 552,100 J. & _J. 10 Lenox Hill*. 100 100,000 ..Lincoln . .... 100 300,000 37(\400 : :: :::::: ·--s·· ···6·· ifeb:;92... s·· :Madis'n Sq.* 100 500,000 169,800 J. & J ....... ...... Jan. '87. 3 7 7 (1) :Manhattan * 50 2,050,000 1,580,300 F. & A. -:Mkt & Fult. 100 750,000 797,700 J. & J. 8 8 Jan. '92. 4 2,029,500 J. & J. 8 8 Jan. '92. 4 Mechanics' . 25 2,000,000 Mech. &Tr* 25 400,000 420,900 J. & J. 10 8 Jan. '92. 4 6 6 Jan. '92. 3 Mercantile .. 100 1,000,000 1,031,400 J. & J. 7 7 Jan. '92. 312 Merchants' . 50 2,000,000 979,800 J. & J. 6 6 Jan. '91. 3 Merch. Ex .. 50 600,000 151,500 J. & J. 10 Dec. '91. 5 ~btropolis* . 100 300,000 649,300 J. & D. 10 6 6 Jan. '92. 3 Mt. Morris*. 100 250,000 313,000 J. & J. 16 Jan. '92. 4 Murr'y Hill* 50 100,000 361,400 Q.-J. 16 13,200 200,000 .Mutual* .... 500,000 250,500 id::.&·:&: ···s·· --·s·· Nov.'•iii."4 .. Nassau* .... 99,500 ............... Ji. Amst'm*. 100 250,000 New York_, 100 2,000,000 1,956,800 J. & J. 10 ·10·· lan:;02:·5·· 8 8 Jan. '92. 4 N.Y.County 100 200,000 571,700 J. & J. 6 6 Feb. '92. 3 N.Y.N.Ex . 100 300,000 154,000 F. & A. 7 312 Jan. '91. 312 .Ninth .; ..... 100 750,000 262,200 J. & J. 51,300 ...... Jan. '92. 3 Nine'th W'd* 100 100,000 N. America. 70 700,000 58'1,400 ~c&°·i ···6·· 6 Jan. '92. 3 10 Jan. '92. 5 -Oriental* ... 25 300,000 416,900 J. & J. 10 8 8 Feb.'92. 2 .Pacific* .... 50 422,700 438,400 Q.-F. 9 10 Jan. '92. 5 .Park ........ 100 2,000,000 2,814,500 J. & J. 10 Jan. '92. 5 1People's* ... 25 200,000 31$,300 J. & J. 10 6 6 Jan. '92. 3 Phenix ..... 20 1,000,000 452,200 J. & J. 5 6 Oct. .'91. 3 lProd. Exch.* 100 1,000,000 252,300 A. & O. 8 8 Jan. '92. 4 1Republic ... 100 1,500,000 960,800 J. & J. 30,500 "'Riverside* . . 100 100,000 -'S t.Nicholas* 100 500,000 120,700 i:&·i ...6.. ···6·· lan:~02...s .. Seaboard ... 100 500,000 198,800 J. & J. 612 612 Jan. '92. 5 10 Jan. '92. 5 Second . .. ... 100 300,000 406,300 J. & J. 10 70,000 J. & J. 6 6 Jan. '92. 3 Seventh .... 100 300,000 8 8 Jan. '92. 4 ,flhoe & L'thr 100 500,000 258,000 J. & J. 8 12 Jan. '92. 6 :.Sixth ...... . 100 200,000 352,900 J. & J. 3 6 Jan. '92. 3 ~uthern ... 100 1,000,000 122,300 ......... 7,700 tate* ....... 100,000 6.. ···6· · Nov:•s·c:f· 1,200,000 483,500 :stateofN.Y* 43,500 J. & J. 5 ...... July '90, 212 ~ ....... 100 1,000,000 ":l'radesmens• 40 750,000 126,500 J. & J ....... .. .... Jan. '92. 2 81,000 ·····---· ...... 'll.'we'f.Ward* 100 200,000 ----·········· 9,000 ......... ·--··· '23d Ward* .. 100 100,000 "Union Sq.* . . 100 200,000 131,300 . Q.'_:_:_i . . ..s .. ···s·· iaii:;02.--2 .. ,U. States .... 100 500,000 518,800 2 'Western .... 100 2,100,000 194,200 ......... 5 Jan. '92. 3 '"}Vest Side* .. 100 200,000 253,300 J. & J. 12 12 Jan. '92. 6 * These are not National banks. t Dec. 2, 1891, for National banks and Dec. 12, 1891, for State banks. NEW YORK AND BROOKLYN GAS COMPANIES. ioo ~t&.~~~~~: :r · ioo·· oci: i..:·&:o: ioo ioo ru::·&"i~-: ... ioo ----------- --- ------····· GAS c 'ol\lPANIES. Par. Amount. Period. Dividends aIJ.d Interest. '90. i91. *Date. Yo - - - - - - - -1--1-----1---- - - - - ------- Erooklyn G.-L.-Stk. $25 $2,000,000 Various 7 2 Nov.,1891.2 4 (1) Central-Stock . . . . . . 50 500,000 F. & A. 4 20 1;500,000: Various 4 -Oitizens' G.-L.(B'kln) 412 Jan.,1892.2 5 1895-1905 Bonds .............. 1,000 250,000 ]A. & 0. 5 -Oonsolidated-Stock. 100 35,430,060 J. & D. 5 5 D ec.,1891.212 Debenture bonds .. 1,000 1,500,000 M. & N. 5 5 May, 1908 Metropol'n-lst M. 1,000 950,000 F. & A. 6 6 Aug.. 1901 -':Equitable-Stock. ... 100 4,ooo,ooo l Q.- J. 8 8 Jan.,1892.2 Bonds.............. 1,000 1,000,000 F. & A. 6 6 1899 !:Fulton Munic.-Stk. . 100 3,000,000 Q.-J. 10 912 Jan.,1892.2 Bonds, red. at 100. . . . . . . 300,000 J. & J. 6 6 1899 .Metrop. (B'kln)-Stk. 100 1,000,000 J. & J. 6 5 Jan.,1892.212 .Mutual (N. Y.)-Stk. 100 3,500,000 J. & J. 412 5 Jan.,1892.212 1st M., red. at 100. 1,000 1,500,000 M. & N. 6 6 1902 .Eassau (B'kln)-Stk. 25 1,000,000 Q.-J. 6 6 Jan.,1892.112 Scrip ..... ..... ..... Var's 700,000 M. & N. 5 5 Co.'s option. 10 1,000;000 Q.-M. 6 F eople's,(B'kln)-Stk. 6 Dec.15'91.112 Bonds. red. at 100. 1,000 368,000 M. & N. 5 5 May, 1907 Bonds ............. Var's 94,000 A. & 0. 6 6 Apr., 1919 ~iJ,D;dard, pref.-Stk. 100 3,369,000 Q.-M. 5 3¾ Sept.1891.114 Williamsburg........ 50 1,000,000 Q.-J. 8 7 Jan.,1891.112 Bonds.............. 1,000 1,000,000 A. & O. 6 6 1900 .. 'l'h1s column shows last dividend on stocks, and maturity of bonds https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis [VOL, LIV. Par. Amount. Net Surplus, Jan.I, 1891. * DIVIDBNDS. 1889. 1890. 1891. Last Paid. -- --- ----- $ $ Alliance ..•. 1,000 200,000 48,396 American .. t 50 400,000 406,533 Bowery ..... 25 300,000 37,466 9 Broadway .. 25 200,000 215,150 10 20 300,000 295,557 612 Citizens' ... t Com'nw'lth t 100 500,000 66,272 6 Continental. 100 1,000,000 1,602,620 14 Eagle ....... 40 300,000 697,871 10 Empire City. 100 200,000 71,763 6 Farragut.... 50 200,QOO 102,405 10 GermanAm. 100 1,000,000 2,296,558 20 Germania ... 50 1,000,000 879,214 10 Globe ....... 50 200,000 80,674 10 25 200,000 390,828 10 Greenwich .. 15 150,000 Hamilton ... 55,028 6 Hanover .... 50 1,000,000 546,263 10 Home ....... 100 3,000,000 1,494,595 10 Kings Co .... 30 150,000 171,633 12 Man.&Build. 83,535 6 80 200,000 Nassau ....•. 100 200,000 219,532 10 44,249 8 National .... 50 200,000 Ni~ara ..... 100 500,000 435,511 10 45,136 6 No hRiver. 50 350,000 25 200,000 295,099 12 Pacific ... . .. Peter Cooper 50 150,000 192,982 12 Phenix ..... . 20 1,000,000 653,704 6 Rutgers' .... 50 200,000 127,127 10 Stuyvesant. 49,097 7 50 200,000 Unit'd States 25 250,000 250,179 12 Westchest'r . 25 300,000 460,662 10 Williamsb' g. 10 250,000 680,461 20 io··· io ... 103 6 6 11 11 612 619 i¥ ... 143 1212 10 6 6 10 10 20 20 10 10 8 8 10 10 6 6 10 10 10 10 12 12 6 6 10 10 7 10 6 6 12 11 12 11 10 10 10 10 6 612 11 10 10 10 20 20 io ... Jan.,'91. 3 Jan.,'92. 5 Jan.,'92. 3 Feb.,'92. 5 Ja.n.,'92. 3¼ Jan.,'92. 3 Jan.,'92. 7 Oct., '91. 5 July,'91. 3 Jan.,'92. 5 Jan., '92.10 Jan.,'92. 5 Jan.,'92. 4 Jan.,'92. 5 July,'91. 3 Jan.,'92. 5 Jan.,'92. 5 Jan.,'92. ft Jan.,'92. 1 ¼ Jan.,'92. 5 July, '91. 3 Jan.,'92. 5 Oct., '91. 3 Jan., '92. 5 Feb.,'92. 5 Jan.,'92. 5 Jan.,'92. 5 Jan.,'92. 3 Jan.,'92. 5 Feb.,'92. 5 Jan., '92.10 * Over all liabilities, including re-insurance, capital and scrip. t Surplus includes scrip. NEW YORK AND BROOKLYN HORSE RAILROADS. See earnings in CHRONICLE, V. 53, p. 325, 408. See also V. 53, p. 325. Dividends and Interest. RAILROADS. Par. I Amount. Rate * $ $ Period. - - - ·Date. '90.1 '91. t "· AtlanticAv.(B'klyn) st'k 501,250,000 Q.-J. 6 6 Jan.92,1¼ 1st mortgage.. . ....... . . . . . . 140,500 M. & N. 7 7 May 1, '94 General mortgage... . 1,000 759,000 A. & O. 5 5 Oct., 1909 IIBleecker Street-Stock 100 900,000 J. & J. 112 112 Jan.,'92,:\ 1st mortgage.......... 1,000 700,000 J. & J. 7 7 1900 ,rB'way&7thAv.-Stock 100 2,100,000 Q.-J. 8 10 Jan.92,2-'9 1st mortgage.......... 1,000 1,500,000 J. & D. 5 5 June,1904 2d mortgage.......... 1,00@ 500,000 J. & J. 5 5 July~ 1914 B'w'ySurf.-lstM.,guar 1,000 1,125,000 J. & J. 5 5 11:124 2d M., int. as rental. 1,000 1,000,000 J. & J. 5 5 1905 So. FerryRR. lstM.gu. 1,000 350,000 A. & 0. 5 5 1919 Broadway (Brooklyn)... 100 525,000 Q.-F. 6¼ 8 (1) 1st mortgage.. ........ 1,000 250,000 J. & J. 5 5 Co's opti'n 1st M., Yates Av. guar 1,000 100,000 J. & J. 5 5 do Brooklyn City-Stock... 10 6,000,000 Q.-J. 8 8 Jan.,'92, 2 1st mortgage.......... 1,000 800,000 J. & J. 5 5 Jan., 1892 Gen. M., red. in 1916 . 500 &c 3,000,000 J. & J. 5 .... July, 1941 B'klyn Crosst'n 1st M. 1,000 200,000 J. & J. 5 5 July, 1908 Bushw. Av. lst&2dM. 1,000 564,000 J. & J. 6 6 Jan.~ 1892 Gr. St. & Newt'n 1st M 1,000 200,000 F. & A. 5 5 11:106 Brooklyn City & Newt'n 100 1,000,000 Q-F 1 4 (1) Consolidated mort.... 1,000 1,000,000 J. & J. 5 5 July, 1939 Central Crosst'n-Stock. 100 600,000 Q.-J. 7 7 Jan.92,1:\ 1st mortgage.......... 1,000 250,000 M': & N. 6 6 Nov., 1922 Cent. Park. N. & E. Riv . 100 1,800,000 Q.-J. 4 414 Jan.92,114 Consol. mortgage..... 1,000 1,200,000 J. & D. 7 7 Dec., 1902 tChristopber & 10th St.. 100 650,000 Q.-J. 712 8 Jan.,'92, 2 1st mort., 5s, 6s & 7s .. 1,000 180,000 A. & O. 7 &c 7'&c Oct., 1898 Coneyisland&Brooklyn 100 500,000 .. ...... Nil. Nil. Ag.'88,219 1st mortgage.......... 1,000 300,000 J. & J. 5 5 Janl,1904 Certificate of indebt. . . . . .. . 146,000 J. & J. 6 6 Jan., 1910 D. D. E. B. &Bat.-Stock 100 1,200,000 Quar. 8 10 Feb., '92,2 1st mortgage ... ....... 500 &c 990,000 J. & D. 7 7 June,1893 Certificate of indebt.. 100 1,200,000 F. & A. 6 6 Fe6., 1914 Eighth Avenue-Stock.. 100 1,000,000 Q.-J. 9 8 Jan.,'92, 2 Scrip......... . . . . . . . . . . 100 1,000,000 F. & A. 6 6 Feb., 1914 42d & Gr. s,t . Ferry-St'k 100 748,000 Q.-F. 15 16 (1) 1st mortgage.......... 1,000 236,000 A. & 0. 7 7 Apr., 1893 42d St. Man. & St. N. Av. 100 2,500,000 ........ Nil. Nil. ...... .. . . . 1st mortgage.......... 1,000 1,200,000 M. & 8. 6 6 Mch.,1910 2d mortgage income .. 1,000 1,525,000 J. & J. 6 6 Jan., 1915 H. W. St.&Pav.F'y-St'k 100 1,050,000 ........ Nil. Nil. Feb.,'86, 2 1st mortgage ... ...._... 500 500,000 J. & J. 7 7 July, 1894a Metropolitan Traction 100 20000000 . . ... ... 1 4 Jan.,'92, 2 Ninth Avenue-Stock... 100 800,000 ..... ... Nil. 114 NY-.'91,114 SecondAvenue-Stock.. 100 1,862,000 Q..-J. 4 4 Jan.,'92, 1 1st mortgage.... ...... 1,000 1,600,000 M. & N. 5 5 Nov., 1909 Debentures.... .. ...... 1,000 150,000 J. & J. 5 5 Jan., 1909 Sixth Avenue-Stock... 100 2,000,000 Quar. 8 - 9 . Jan.'92, (f) Third .Avenue-Stock... 100 2,000,000 M. & N. 12 12 Nov.,'91, 6 1st mort~age.......... 1,000 5,000,000 J. & J. 5 5 J'y 1, 1937 Twenty-third St.-Stock 100 600,000 Q.-F. 10 10 (1) 1st mortgage... ... .... 1,000 250,000 IM. & N. 7 7 May, 1893 Debentures............ 1,000] 150,000?, & J. 5 5 Jan ..t 1906 B'way, 1st M., guar... 1,000 375,000 J. & J. 5 5 l::124 * The figures in these columns represent for stock the rate per cent of dividends, for bonds the rate per cent of interest per annum. t This column shows last dividend on stocks, and maturity of bonds. II Leased to Twenty-third Street. t In June, 1890, leased to Central Crosstown at 8 per cent per annum. ,r µeased in 1890 to Houston West Str~et & Pavonia Ferry at 10 per oent per annum. • Controls the Broadway & Seventh A venue, the Twenty-Third St., &c . -See_V .53, p. 325. JANUARY, 1892 RAILROAD EARNINGS . J Ui3 MONTHLY EARNlNGS OF PRINCIPAL RAILROADS. =··: : : : : : : : : : : : : :~~, :m.r~: 1888... . .. ........... ... .... ... (296 m.) •. 1891 ....... . ..... ............ ... 205 m.) .. Atchison Topeka & Santa Fe- 1888.. • ........... (6,432 to 7,112 1889a....................... (7,112 m .•• 1800a ........ ............. ... (1,109m ... 1891. ••••••........ .. (7,105 to 7,124 m •.. Baltimore & Ohio1888 ••••••••••.••••. (1,744 to 1,886 m°5°. 1869........... .... . .... . ..... (1,848 m ••. 1890 ... . ...... . .... (1,868 to 1,984 m.~ .. 1891.. . .................... (1,9:'..2 '• •. Bait, & Ohio Southwesaern1888 ....................... ..... ~281 m.~.. 1889 ...................... .. . ... 281m . • lffi: :::::::.:::: ::: :: ::::::::: :~~1 ::):: Burl. Cedar Rapids & N orth'n- 1888..... . ..... ........... . . . (1.046 m.) •• 1889 ................. ... . .... . (1,046 m·{· 1890 .......... ..... .... ...... (1,046 m ••. 1891. ................ ( 1,04tl to 1,088 m.) •. Canadian Pacific1888 .... ......... .. (4,476 to 4,795 m.) • 1889 .......... .. .... (4,7115 to 4.957 m.} •• 1890 . ...... ......... (4,957 to 5,564 m.) .• 5 781 m.> •• • c~~iriii. .N;.·w 1888 ............................ (627 m.) •• 1889 .......... .......... (627 to 652 m.) .. 1890 ............................ (652 m.) .• 1891. ........................... (652 m.) .. Cen•ralR;R.. & Bka-, «·o. ot Ga.1888 ................ (1,097 to 1,200 m.) •• 0 of ·fle6::e;?_ March. April. May. Oct. Nov. 118,866 160,84{1 172,712 155,149 189,207 189,564 185,178 191,86d lll:!,844 180,757 179,567 180,207 158,420 197,05ll 182,221 186,854 1,549,298 1,901.888 1,966,968 1,922,610 2.806.000 2,052, 138 2,5411.455 2,945,878 2,898,RS4 2,548,072 2.492,451 2,691,550 2,894,092 8,137,5411 3,134,062 11,429,859 2.843.651 8.040,758 8,858,882 8.582,881 2,525,18:l :.:l,741.1178 8,072,880 8,807,682 2,582,382 2,688,785 2.982,445 •8,042,087 26,467,856 28.186,456 88,241.\199 35,159,811 1,702,489 1,803,187 1,910,364 1,999,60J 1,657,555 1.90U,611 2,072,762 ~.219,077 1,955,450 ~, l89,i84 2,251,087 2,872,159 1,764,684 2,079.287 2,222,828 2,322,948 1,853,541 2,2112.482 2,283,217 2,803,7\11 1.599,965 1,llil0,449 2,00!,i::62 2,119,008 1,765,326 2.180,898 2,012,8A7 *2, 176,156 20,156,2'74 22,427,098 24,819,629 24,878,7 24, 160,560 155,891 170,466 187,&IO 154,268 159,582 1611,406 181,444 162,708 16!,824 194,086 216,050 194,866 196,778 212,879 199,960 212,707 221,641 265,129 *240,6fl0 181,687 220,211 219.1155 286,005 156,193 208,228 191,856 •224,778 187,286 203.007 198,254 •281,191 2,050,5 84 2,177,968 2,829,07 7 2,506,862 198,176 · 194,501 rn9,603 217,716 206,1189 281,855 254,267 261,828 222,148 210,267 209,427 268,340 198,849 217,729 287,166 272,678 215,206 282,745 285,096 380,757 280,488 298,\/09 362,889 426,874 880,856 858,1121 887,470 456,578 805,853 282,040 818,245 896,916 268,197 268,997 306,104 394,957 2,M8,0'ffi 2.986,Mi 8,803,989 8,886,84 0 801.205 887.994 968,528 1,084,687 l,010,0.Q5 897,91!8 844,046 1,128,628 1,187,427 1.100,099 1,084,122 9~6,257 1,288,960 1,820,4811 1,300,850 1,865,221 1,888,494 1,510,089 1,608,SOls 1,602,920 1,180,996 1,255,861 1,408,000 1,60t!,4,82 1,188,355 1,218,787 1,180,947 1,375,528 1,t21,755 1,488,407 1,511,0fO 1,5811,000 1,607,715 1,680,592 1,784,985 1,835,659 1,848,700 1,620.976 1,766.447 2,012,502 1,328,96-l 1,478,695 1,784,41:10 2,031,080 1,146,441 1.265,801 1,548.491 •1.888.000 1~,195,586 1 .oso,660 1?,082,816 20,2~9. iasa s Feb. s -I- -I--s I 116.067 188,526 146,085 150,099 115,248 136,871 160.186 150,808 111,845 139,294 147,7117 144,456 120,912 148,860 145,446 156,014 l,780,6a6 1,E64,988 2,221,818 2,217,129 1.910.094 1,954,872 2,625,142 2,578,818 1,939,972 2,1!87, 111 2,641.818 2,654,289 1,995,459 2.248,466 3,005,71'3 2,953,188 2,osll,auo 2,094,199 2,523.548 2,846,195 1,464,769 1.606.819 1,924,'i58 1,898,414 1,481,648 1,452,';87 1,720,716 1,781,112 1,572,152 1,721.848 1,992,207 1,882,860 1,569,516 1,682,185 1,\)44,484 1,943,240 1,769,184. .l,7413,818 2,0t4,021 1,9611,360 170,000 179,905 188,521 185,006 170,00€ 161,145 180,53\1 170,874 165,584 150,082 162,882 153,41)7 200,llb 176,022 185,722 *188,633 208,245 205,628 216,188 251,784 221,014 216,128 271,9114 265,851 209,597 228,259 270,864 8011,571 128,707 145,420 150,0iS 148,199 1.707.7'i2 1,979,175 fUi9,162 2,478,848 885,5011 1,044,lllb 898,974 1,089,190 :S,22.fo fg [;;fl :t: ½=::::::::::::::: 1891. ............... (t,812to 1,680m.) •• 562,955 605,609 689,285 724,999 477,587 499,217 552,502 626,028 449,032 466,593 585,1112 465,761 50,3,789 5115,}82 b496,982 1888 ...... . .................... (754 m.) •. 1889 ... . ................ (754 to 931 m,r, 1890 ........................... (931 m •.. ~0.481 442,737 618,llli 654,668 881,919 425,659 677,066 628,075 425,5P3 489,007 671,524 665,660 886,276 407,777 594,402 670,407 420,404 474,!102 640,9117 720,825 895,216 407,996 605,041 680,815 o½.,~1.i.iio·iiiiriiiiiiioii·&·q·u~ i~y~>·· Aua-. I 122,7611 155,288 li0,804 145,456 ----I I 930,891 90d,602 1,006,825 1,008,148 1,074,180 1,256,251 1,869,815 1,8'~,212 1,815,868 848,608 000,688 980,284 1,080,021 1,11,0,980 1,812,597 1,369,036 1,186,281 1,806,160 821,702 906,607 1,07\1,709 l,168,H20 1,196,206 1,817,75911,295.534 1,237,244 1,342,077 1,271,68$ 1,4.08,412 948,294 1,019,841 J,05!,950 1,148,050 1,2110,448 684,756 858,807 715,408 760,768 0 ' 127,662 154,664 148,226 154,887 186,749 161,,800 177,358 159,665 679,658 690,695 878,96~ 812,164 Obe11apeake & Ohio- July. June. Sept. Jan. Alabama Great Southern- ......•·r·•,..•.. 901,295 918.978 942,Stl6 797,399 828,9'i4 876,780 ~:m m:m 446,728 581,267 714,25/j 808,148 478,821 628,280 705,734 888,993 440,000 669,681 680,846 781,l96 648,668 769,7~1 728,011 836,187 I Total. • ........ ......... 646,8131 862,064 878,048 ................ Dec. 977,212 18,177,471 l,l'i4,567 l,1?2,311 . 1,111,607 18,497,89' 1,281,292 1,176,897 18,668,72 1,221,471 528,788 57u,778 674,1\52 499,003 581,801 695,957 1888 ............. (6,121 to 6,846 m.) •• 2,142.098 2,117,77:l l,li17,588 11,121.841 2,190,599 2,445,840 2,825.22:'> 2,807,'iSS 8,037,077 3,428,982 1889 ................ (6,8il to 6,520 m.J. l,Ulli,205 2,412,SS2 2,657,908 2,513,76{) 2,613,';61 2,6e4,060 2,671,746 8,286,718 8,180,677 8,464,594 1800 .......................... (6,520 m.) .• 2,717,408 2,689,410 8,160,747 2,74~,o~ 2,986,792 2,740,51:lS 2,721,899 8,016,229 8,\!4-l,468 8,528,058 1891...... .. .. ..... • .• ....... (6,497 m.) •• 2,829,880 2,287,004 2,489,2711 2,484,668 2,618,707 2,60U,lll9 2,761,495 8,161,840 8,713,186 8,~.1so Chtcaa-o & Ea11tern Illinois1888............... .. .... . . . .. (48d m.) .• 2C6,369 208,815 205.970 187,251 212,36{) 205,294 206,797 259,238 246,750 288,102 1889 ..................... ...... (486 m.~.. 216,846 214,810 207,860 218,1169 184,83!:I 186,029 209,848 252,494 24.2,882 268,0715 1800 ............................ (481\ m .•• 227,28'i 219,814 268,7116 261,812 240,416 247,415 . 280,076 296,057 809,193 342,807 1891• ......................... • (486 m ••• :.!96,227 272,008 826,881 289,941 282,954 294,124 848,188 844,798 841,689 858,656 Ohtcaa-o Mtlwaukee & St. Paul.1888 ••••••••••••••••• (5,621 to 6.670 m.) •• 1,(62,047 1,577,062 1,980.889 1,825,699 1,767,064 2,001,829 1,924,665 2,078,6':"i 2,478,167 2,9-12,491 1889 ••••.••••••••••••••••....• (5,678 m.l 1,655,910 1,676.608 2,019,89, 1,819,uSl 1,929,768 2,007,204 1,977,898 2,212,692 2,550,195 2,951,840 1890 ••••••••••••••••• (3,678 to 5.659 m.) •• l,7~,411 1,798,146 2,077,754 1,00!:I, 006 2,u00,:.!54 1,\1-19.876 2,149,068 2,822,689 2,714,628 2,005,771 1891 •••..••••.•••••••.••••.••.. (6,i21 m.) •. 1,946,196 1,878,098 2, 181,893 2,105,560 2,0\17,548 2,147,614 2,'309,1152 2,867,006 8,098,609 3,476,666 Oblcaa-o & Northwestern1888 .•••••••••••••• (4.208 to 4,2M m.) •• 1,571,289 1,676,498 1.897,532 1,954,885 2,0P0.258 2,286,974 2,149,666 2,295,291 2,714,2'74 2,972,265 1889 •...... ................. (4,2.~0 m.) •. 1,613,245 1,500,87\1 1,898,414 1,837,256 2,144,942 2,061,054 ~.267,578 2,5711,104 :.!,555,590 2,979,807 1890 .........•...... (4,250to 4,¥58 m.) •• l,86t,888 1,758,0t\2 1,1110,816 2,208,927 2,299,654 2,184,427 2,46!,127 2,670,580 3,080,659 2,1140,025 1891. ............. ... (4,258 to ( .273 m.) •• 1,898,407 1,707,841 2,029,078 2,028,482 2,181,002 2,8i5,51l5 2,M3,12S 2,747,101:l 3,186,218 8,278,6117 Ohle. St. Paul Minn. & Omaha1888 .......................... (1,894 m.) . . 824,885 488,927 600,841 496,246 472,176 5~1.689 IS50,6.% 605,507 650,802 741.748 1889 ........................ ..(1,894 m.~ •• 866,1184 429,178 582,525 450,584 481,441 478,734 507,594 1176,160 ~,5U7 758,726 1800 ..•...................... (1,894 m. • • 488.808 451,1175 628,917 5&-,075 1514,tffi"I 488,288 589,926 500,178 6111,010 7ti3,187 1891............. • .• (1,894 to 1,475 m.} •. 485,786 457,Z46 550,411 570,6~ 578,612 576,274 656,1>62 68tl,829 862,812 977,878 Olnclnnatl N. O. & Texas Pac.1888 •••••..••••..••••••••••••••. (386 m.~. 277,627 278,281 290,5\18 278,667 800,867 296,224 82:i,407 812,804 821,154 32\1,780 1889 ............................ (836 m ••• 819,878 268,257 802,818 285,944 2114,418 282,817 828,076 366,0!;4 858,516 888,874 1891> ................ .......... (386 m.) • 858/191 827,696 521,499 853,400 8111,477 867,852 340,194 404,40L 405,356 418,290 1891. •••• . •...••.•.•.••••••••... (386 m.) •• 353,549 881,702 847,302 848,422 832,022 848,404 892,508 875,548 88't,820 407,41:8 Whole Erlanger System- I ........ 750,866 905 878,492 i:rJ•741 878,007 8,708,176 ........ ........ 418,604 655,508 689.627 .,d7,675 5,123,981 6,149, 998 7,719,614 8,818, 090 2,888,567 2,774,048 29,'742,766 2,007,fl71:I 8,199,778 84,067.61 7 2,872,681 2,816,;s2 86,180, 686 8,1141,110 . .. ..... ........ 249,705 241,057 279,162 236,262 249,611 242,355 829,294 *273,344 2,719. 660 2,6':9,6 88 8,297,689 cS,62'7,001 2,616,260 2,787,877 2,650,9811 :i,214,162 2,2'74,481 2,861,799 2,453,280 8,092,049 24,867,781 25,900,21 9 26,810, 829 29,860,88 7 2,288.424 2,518,452 2,5H8,971 2,7&2,861 1,940,627 2,182,964 2,188,176 2,585,817 25,882, 978 26,186,280 28,038,207 29,814,07 t> 616,790 668,937 677,727 881,445 457,576 6,416, 588,539 6,422, 67ll,984 6,854,621 800,589 878,660 882.762 860,327 819,497 878.009 881,740 868,620 8,624,490 8,987,657 4,447.86 7 4,88,2022 rrl ........ ........ 1888 .•••••.•••......•.•..••. (1,140 m.) •• 1&-9 ............... ••••••••• (1,140 m.) .• 1890 •••••••••••••.•••••••••. (1,140 m-~· 1891 ........... .. ......... . (~140 m • •. Colum'husHock. Val. & oledo1888 • • • • • • • • • .. ••••••••• . •••.. ~325 m.) •. 1880....... ••••••••••••• •• • •. 826 m.) •• 1890 ••••••••••••••••••••••.•••• . (825 m.~ •• 1891.. ..... . ... . ............ . (827 m, • . Denver & Rio GrandP1888...... •• .. • • • • . • (1,462 to 1,467 m.) •• 1889 .•..•.. .•....... (1,481 to 1,517 m.) •. 1890 .......... . ........... (1,499 m.) •• 1891 ••••••••••••••••• (1.576 to 1,637 m.). 582,748 691,462 775,593 785,9411 565,996 595,080 672,058 671,252 575.941 685,867 658,879 6f18,419 628,207 536,574 577,566 778,089 642,544 628,806 5tl9,762 720,699 6511,820 580,402 628,061 651,478 725,7-!4 575,264 682,eoo 760,899 695,811 571,612 706,062 '778,!146 763,878 677,241 827,028 844,475 &6,182 700,007 816,300 806,787 82\1,8:12 780.288 848.753 824,641 &0,408 '7,148,58 2 8,136,27 4 8,ll66,141 8,828,548 204,805 1911,476 164,411 209,277 189,570 174,112 168,('16 178,170 182,885 174,185 212,744 226,440 200,ll42 '257,68{1 160,654 196,758 258,3i8 250,163 250,t179 2:Sl,504 251,462 1117,484 240,960 2!;2,1150 248,155 219,581 277,286 318,856 288,678 253,630 286,549 882,184 296,82!, 243.976 315,159 84.8,528 805,574 261,684 385,1-17 005,484 258,684 244,890 803,867 *290,508 220,508 198,781 259,2811 *285,'t58 2,898,970 2,524,666 8,078,AO0 8,289,500 58(1,487 1>72,592 606,491 tS51,627 514,701 497,077 528,128 656.215 541,846 579,608 tl06,li84 tl05,218 67d,161 f>!jl,046 68tl,4118 6116,986 657,089 647,7112 766,548 681,827 678,480 6116,200 756,t108 714,169 671,977 724.092 8L0,017 768,211 705,700 718,885 819,448 7!;4,063 721,272 754,548 886,0i9 807,698 '782,803 816,220 872,189 854,244 666.~~ 765,l:l7 ~18,866 741,614 615,828 697,717 888,884 *640,500 7,668,65~ 8,04fl,60s 8,875,786 8,1162,111 7 1888 ••••••••••••••••. (1,098 to 1,140 m.) •. 18811 .•. ..................... (1,140 m.) .• 1800 ................. (1,181 to 1.881 m.) • 1891 ..•••••.•••••••.•••.•••••• (1,831 m.) •. .Elizabeth. Lex. & Bia- Sandy1888 . .•••••••••••.•••••••••••••• (189 m.) 1880 ............. . .............. (189m.~ •• 1890 ................... ········fl89m •.. 1691. ••••••••••• . ••••••••••••••• 189 m., •• (69,444 510,641 665,'}98 692,891 462,514 5::.3,828 1571,572 679,018 444,667 609,000 588,9t!O 587,015 416,674 ~80,158 688,761 650,,116 428.898 445,817 592,244 497,661 488.897 472,771 568,857 649,600 456.594 494,411 618,010 Mll,991 470,874 535.074 658,066 466,628 577,0~] 660,854 650,967 661,661 704,080 704,600 617,561} 624,188 658,0iO 497,741 638,220 6\11,715 598,421 5,615,961 6,418.75 l 7,491, 889 7,092,618 87,800 74.359 58,9118 60.741 -:'4,499 64,011 54,1142 48,510 75,684 69,015 62.670 52,1127 66,687 67,879 68,6711 53,780 75,888 58,79'l 66,8\12 61,589 77,208 56,Wl tll,116 59,727 93,887 66,452 '18,067 80,000 98,814 80,208 86,664 76,897 94.7~ 69,40V 74,0i7 81,892 98,828 77,892 76,818 86,948 ~i:~~ 1888.••••••••. •••••••••• (868 to 3711 m.) .• 1889 .......................... (379 m.~ •• 1890 .......•..•................ (627 m. • • 1891. ..•.• •••. . ............ (627 m ••. 194,896 202,062 228,111 258,005 190,581i 171,507 252,4M 226,386 208.474 286,5tl5 294,270 286,794 224,537 201,628 274,825 25\1,469 218,545 199,385 247,456 214,460 186,865 176,2'72 225,~40 ' 220,074 105,659 198,864 224,481 225,111 197,288 193,762 225,024 289,568 182,50( 1811.122 282,181 245,156 204,900 208.278 254,942 2156,806 21.l,6Wlf 218,540 m:~8 205,597 210.807 249,441 •249,2511 2,408, 0'7G 2.870,1 88 2,928,57 Ii 2,895,61f. 1,076,875 1,063,084 1.037,880 955,280 1,076,861 1,054,444 1,039,849 1,254,865 1,226,6\15 1,217,900 1,097,947 1,259,018 1,201,680 1,230,108 1,855,4~1 1,2'70,418 1,801,008 1,285,\178 1,308,898 l,lZJ,i:60 1,280,590 1,1>16,182 1,408,810 1,4~,880 1,S'i6,672 1,428,578 1,411,825 •1426014 1,156,968 1,84!4,912 1,423,827 •1582297 1,167,680 1.467.650 1,552,924 1,668,766 1,882,678 1,68(,,08~ 1,754,088 1,859,185 1,880,282 1,651,712 1.616.051 1,748,77\1 1,880,071 1,5dl,487 1,692,786 • 1,728,611 18,660, 246 16,114,a@ 16.916,189 18,629,780 .aa.t Tenn. Va. & Ga.- l!'llnt & .Pere Marquette- Illlnol ■ Central.- 1888. . . . . .......... (2,856 to 2,558 m.~ •. 1=················ (2,767 to 2,875 m ... .•••••••••.•.••••.••....•• (2,875 m.) •. I 1891. ••••••••••••••• (2,875 to 2,884 m.) •. Iowa Ceiltral- .. ::: ::::::::::.:~~g :J:: ~=:::::::::::: 1890 •••••.•••••••••••••••••••••. (4\17 m.). 1891. •• •. . ••..•••.•••••••.•• . •• •(497 m.) •• Lake Erle & Western- ~~:~ 668,71!:I ........ ........ ........ 89,481 1,008,689 62,938 815,8 80 66,711 816,SSf) ········ ........ ....... 67,607 98,272 116,661 122.989 127,841 107,IIM 128,656 186.1122 146,059 124,312 117,180 188,821 1112,684 108,191 92,495 110,0911 127,i84 108.080 107,80'i 127,452 106,320 106,620 10\J,416 114,177 117,589 104,429 109,755 126,581 128,d28 116,344 l~,497 150,252 156,812 126,681 144,018 172,982 181,452 141,000 171,611 180,447 195,497 125,871 148,883 152,852 178,652 122,2d0 1411,400 155,00l! •183,290 1,379,R84 1,526,288 1,688,076 1,b02,108 145,407 186,454 242,716 251,U98 :49,470 202,821 211,358 226,886 152.847 207,858 2112,li08 25!-l,454 151,220 184.648 l!33,3'i:i 230,9112 157,968 186,097 257.Hl2 251,4211 166,672 180,871:l 231,410 238,405 179,289 209,624 2411,889 307,008 284,031 268,1811 298,149 816,464 225,646 321,500 281,427 295,8118 221,157 282,148 280,682 308,555 185,412 200,805 246,641 278,491 199,lW 227,00'J 271!,tW.4 •809,41;8 2,167,789 2,517,601 8,074,4S9 8,264,884. 1,280,395 1,261,902 1,346,528 1,476,878 1,496,846 1,618,177 1,529,781 1,562,03\1 l,204,411i 1,815,858 1,478,007 1,507,048 1,316,324 1,882,6&) 1,577,~16 1,496,504 1,866,700 1,871,855 1,485,274 1,510,467 1,388,482 l,4-k!,4116 1,545,18:.:l 1,,866,791 1,845,92'7 1,687,277 1,706,1139 1,796,054 1,894,884 1,tl15,419 1,1165,728 1,8:&3,106 1,437,054 1,768.41,6 1,7!:lfl,920 1,968,028 1,841,787 l,6Y5,416 l,d75.76'3 1,821,()48 1,454,222 1,654,053 1,651,889 •1.796,6~0 16,048,199 18,011,297 19,161,221 20,252,ll~ 1888 •••••••••••••••••••• (548 to 1589 m.) •. 1889 •••••••••••••••.••••••••. .• (589 m.) . . 1890 ..................... (589 to 722 m.) •. 1891. •••.•••••.•• . •••• •.•••.•••• (i22 m.) •• Loul11vllle & Nashville1888 •••••• . •••••••.• c1 97s to 2,181 m.) . • 1889....• . .......... (2 176 to 2.181 m.) •• 1890 ••••••••••••••• (2,196 to 2,248 m.) •. 1891 •. ............... (2,344 to 2,866 m.) .. Louisville New Alb. & Chic,1888 ............................ ~587 m.} .. 1881)... . ........... . . ••. . . . .. . . 587 m .•. 1890 .••••••••••••••••••••••••••• (587 m •• . 1891 •••••••••••••••••••••.•.••••• (587 m.). 1,806,817 1,898,~47 l.5'il,827 1,600,615 147,057 177,420 169,260 192,469 152,887 170,4\n 168,785 189,546 162,699 176,261:1 196.681.l 218,805 178,955 186,896 200,d44 20\/,542 186,786 198,898 214.1166 280,059 194,678 2111,727 281,424 248,416 202,481 214,280 240,657 288,087 226,844 2-17,152 2411,616 278,585 284,895 240,008 262,095 292,483 229,189 248,ttatl 260,251 278,4'76 198,389 2011,890 •281,981 •226,:./68 188,121 ~0.7:./3 •2s1,1100 *220,058 2,292,78 I 2,4ll6,828 2,680,18a 2,847,78 l ::: :::::::.:::~~:t: l~L:::::.:::~ 1890 . ........................... (880 m.) •• 15'7,940 162,1120 172,514 157,lllS 144,618 162.516 1415,305 136,81>0 124,616 143,44/l 135,281 129,600 120,967 111,556 140,807 120,766 120,547 118,539 148.061 110,721 107,686 112,122 128,867 l0ij,686 115,136 125,514 141,616 128,036 122,573 146,255 168,548 125,26( 104,001 188,725 162,450 128,9b8 129,810 1117,710 160,411 157,681 146,224 ltl6,097 167,fJ69 161,618 189,481 184,162 182,457 •168,1117 1,683.M9 1,729,164 1,849,8111 1,622,71 5 512,042 1>16,672 687,04~ 588,770 482,164 457,906 569,567 588,129 550,286 564,075 578,l:IX!> 558,010 487,899 527,670 515,264 591,846 610,978 564,MS 524,244 671,495 870,752 ~.912 48Y,051i 544,089 506,507 472,6i8 451,503 687,815 498,681 498,884 476,0»o 604,378 888,'l91 478.~20 490,181 628,476 499,568 568.864 574,883 799,844 476,802 670.686 694,0l!l 654,Y57 491,618 631,768 631:000 "'672,259 ~.774 6,887, 6,426, 7,87~, 06a 181,525 145.443 166,488 192,087 246,0'28 299,467 297,792 817,102 290,738 810,106 181,64(1 190,194 246,999 25L,284 819,062 324,174 851,618 881,881 884,875 848,604 226,716 224,289 260,407 294,0711 877,564 378,mm 886,827 891,722 403,632 408,719 • ............ (699 to 741 m.) •. *207,818 •209,580 •286,148 *222,624 •288,474 *836,152 •378,894 *864.686 •354,816 *885,684 249,948 296,984 28~,078 •280,700 100,161 2a2,949 2a4,66l *288,467 2,886,, ~ 3,474,Off 8,84.8,MS' c:8,527,71 f. M.em1thi• & Charleston- ~ l •••••••.•••••••••••••••••••• <SSOm.) •• Mexican Central- 188& ••••••••••••• •• •(1,286 to 1,897 m.~ .. 1899e•••••••••••••••• (1,897 to 1,527 m ••• 1800e..................... . .. (1,527 m.) •• 1811le .... ........... (1,527 to 1,808 m.) •. ltlllwaukee Lake~. & West.- t~L.:::::::;. .:::.:.~~~~.t~\g&½ ::L 1890 . ................... (692 to 690 .m.) •. 1891 • . • Approximate flfcmN. , Bmbl'adn« ooneotiona a Includes whole system. (excepting St. Louis & San 1'rancl100) and lines halt owned. fo.■ d!neoeaMl'J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis after womhtJ to~a111 ~a been publ.ulhed. -- -= b Excluding Oeee.n Be. O.. e Plg1Ll'811 are given in Mexican currency, "Ye w York INVESTORS' SUPPLEMENT. [VOL. UV. MONTHLY EARNINGS OF PRINCIPAL RAILROADS-(Concluded). Jan. Feb. llarcb. Ap1•tl. .May. June. July. Au1r. -- -a-·- -- -I - - - --- -I - - -I I I I I lllnneaoolla & St. Loula- Sept. Oct. I I Nov. Dec. 1- s Total. -, - 1:::::::::::::::::::::::::::::[~ ::L J:i88 &i:m ½83:~ ~:m ½~::>~ t(1i:!ii ½~:~: ½~:m 1:~:~J ii~:~ ½t~:~ ng:i~ {·~-=~ l~:i':::::::·: :::::::::::::::::::rn~: ::L ½~:~~ m::~~ lt:lM m:1;g m:~~; 13,911.4tllJ 124.a~t1 1~2.997 152.H20 170,362 lM,500 134.274 1:o10.'844 2 /l40 15J,o31 HH.1 16 20U,i59 222,503 h6,147 •149,t-3::i 1,817, 280 1 1 lloblle & Ohio- 1888 .......................... (687 m.).. 1889 . . ....... .. ............... ,687 m .) .. 1890 ............................ (687 Ol.).. SZ,,()tl5 215.992 277.05\1 247.::lOO 2tl7,076 203.588 257,0~2 245,3tJ6 294,H>b 174.Hl2 197.346 254.113 281,:i6l 210.40l-< 243,:m, 21JH,8&276,177 194,461< 2 l6.807 258.00:! 250,654 179.282 207.00U 257.223 266,aaa 192,779 2t4,76, 2111.9~:i 2:18,674 181,77P 261,641 2.111.101 295.Ml 281.589 325,700 r.7,075 •347,l/36 277,445 2tl9,340 843,iS52 *326,717 312,49~ 32'J.326 346.550 *331,512 2.606.289 3.0M.144 3.441.847 3,495,777 2i0,806 293,080 308,5& 857,71:3 248,835 275.1127 279.31:'> 292,528 257.133 290.839 271 ,18\! 3U6,llll5 232.211:J 258,288 277,144 291',:337 252. 79~ 287.8;1~ 21'8.uri, 3u5,87b 22· .181 259.175 271UJ5" 306.359 262,584 2W.201J 341.ltt7 030,454 272.185 328.MO 855.6111:l 411<!,357 271.179 ~00.21" 850067 479,1155 261.571 293,989 32d,H27 440,702 285.125 809,265 347.202 43i,tl69 3,125.280 3,505,725 3.784,684. 4,7311,443 1888..... .. . .. ...... (1,447 to l,-t20 m.) .. 2.716,704 2.586.483 2,849.609 2,748.777 ·i.824.844 1889. . ...................... . . (l,420 m.) . . 2,710.150 :,!.4fll,780 .2,861 ,5119 2.742,:37:~ 2.tUh!.851 1800 ........ . ........ (1,420 to 1,465 m.) .. 2,1'2H.400 2.703.853 l!.94tl,52G 3.02..!.979 a .128.0~4 8,007,852 2,7:12,996 8,0tll,4.:1113,020,89 < 3,186.246 2,896.216 3.ll 1.443 :i,007.0117 3,l!U7,095 2.00-t.242 8,113.405 8.0W.58 1 8,723,37ll 3.000,851 2.H81.531 3,0HS.95fl 3,717,629 35,283.584 36.066.5"8 :i6.258,6U 40.278,090 1891 ...... . ................... (1.632 m.) .. 2,172.2, 1! .!,OM,403 2,291.:/80 2;284.032 2,44ll,48tl 2,5!:14,494 2,818,39;.: j ,IH6,2tlt 2,1135.317 2,89:>,289 2,662,tlel . ... .. .. .. . . .. .. 1888 ............................ (490 m.).. 1889..... •••• . . • .............. (490 m.).. 1890........................... ~490 m.).. 189~ ...... .................... .. !490 m.).. 391.539 412.571 434,-10, 446,040 386,953 385.713 399.005 417,7tll 424.439 476,024 515,1111:; 527,S2tl 450.0'ill 479 !i80 1888........................... (157 m.).. 1889.. . .. . . . .................. (167 m.). 1890 .......................... (157 m.).. 1891. .......................... (157 m.).. 119,527 108,24i 1C>4,466 115,088 380.801 3\18,065 657,ll20 691,750 ..~:~viiie.Chair:·&·s,:·i'.~!!fs~·>.. 1888 .................... (627 to 650 m.).. 1889 ................... ... .. ... (652m.) .. 1890 ... . ........................ (6:'>2m.) .. w!11."cent.:rai'&;HiJ.(3~2tifv~~ m.) • 202.210 284,liOS 291,637 ·=lY,o·:rk·Lake·Erie ·&/lv'::t~_:> .. 282.621 3W.511 352.0(15 491,1180 • 2,850,191 3,273,7713.366,1003.175,796 .!,951.lllll 3.W0.984 3,3U'J,2'JS 3.436,3 16 3,004,8:&7 2.818.5.!2 3,215.hStl 8,27~,919 8,351,951 1 8,678,4:.!5 3,776,5:!2 8.819.lM ½:::·.:::·:· ::.:·.::·:::::::::::A~bWt:J: 1:~~u~ ~JfM~~ rn~:ti~ N~!:~~~ ~:f~~:~~ ~:~ae~ ~:~~:~e ::~;i:~~ ~:g1~:~ ;:~:~ ~:~&J~i Ht½:~{ ~:m:= 1800... . ......................1.632 m.) .. 2,155,7t;5 2,056,487 2.242,48ti 2,:34:\75~ 2.4117,070 l!,42>1,790 11.504,124 2,7118,618 11,569,71"3 2.712,7H8 l!,514,42,') ~,877,63!, 29,201.700 If ew York & .New Enarland- Jfew York Su.sq. & Weat.- Jforfelk & Western1888............................ (554 m.). 1889 ........... . ........ (591to638m.) •. to !,047 m.) .. 1890 .......... ... ...... w1':f1aern·Central<_:,077 to 1,105 m.) .. (638 =:::::::::::.:::::::::::::::J~:J: ~::ti 6511,118 1890.... . ....................... (377 m.).. 18\ll ............................ (377m.) .. .Korthern Paclflc- 495,5til 378.440 410.325 422.304 422,113 45:.!,266 • 481,852 481,ll411 4{H,9:.17 55U,!392 464.991 49:.!,0611 C>21-,IIO:i M5.IH9 516,308 5,$7,448 5i0,7il0 5711,104 501,128 5ltl,924 562,784 583,700 526,447 53-<.346 578,IH7 571l,318 459,Mt< 491.~ 51•6.715 :129,76& 429.86!) 5 .340,064 47::1,266 6,650.504 482,779 6,029,125 116,864 106. 154. 106.381 96,471 81.470 91.02{4 9::3.4711 · 110,51!tl E5.11'1H 102,722 '122,095 144,471 101,e35 10&,so2 1~6,933 145,747 113,639 116.11-'0 150.654 155,873 12.1,287 140,301 149,799 lt.7,705 146,655 14{>.8tl5 147,812 1411,743 130,446 128.27i 145,716 lf>tl,124 136,184 134.512 11S3,228 159,151 126,600 133,345 145.119 143,7112 123.694 1,445,901 124.236 1,402,466 180,04H 1,592,0SS ..... ........ 350,768 403,0UI f>74.ll2,:1 626,138 8'0,764 4a5.IIH4 690,914 702,7117 407.~86 457,7119 749,~8 760,776 432.92,- 430,210 517.524 488,05S 776.727 - 802,~93 828,92 , 820,774 467,770 573,314 800.359 870,867 427,61l6 527.819 771.195 837,508 409,727 505.454 69~,018 •748,795 4,800.599 5,597.128 f8.578.29t V,145,088 ~:t~ ~:m ~:~ g:~,:= 1888 ..... ........... . ........... (623 m.).. 1889............................ (623 m.).. 1890 ........................... (628m.) .. 1891. ........................ ~23:u.). 1 0 ria~~.~~. .'.~~~.~.~~~o~;,.) .. 1889 . ..... . . ............ :874 to 1150 m.).. 1890*·•·••·· ......... (1,0211 to 1,0:ffi m.). l89U ......................... (l,05Um.).. .PUft~rJ:sa:i!'t~t Pittsburg & Erie)- S00.512 417,1160 692,636 763,277 408,768 429,5ll 707,670 764,59! :t:m m:g~ ~:m ~~:ffi m:~ g'li:~i ggg:~ 494,68:.! 473,oou 558.873 53'7,3U5 la&, ................ . (8,277 to 8,498 m.).. 703,607 9:JfJ,085 1;207,176 188U......... .. ...... (3,447 to 3,514 m.) .. 1,183,398 1,193.159 1,626,9114 1890 ................. l3,500 to 4,162 m.) .. 1,177,400 1.28~.908 l.676.5Hl 1891. . ... . ........... (4,237 LO 4,832 m..) .. l,7:'>2,139 l,469,9811,777.946 Olalo & Ml88l88ippl- · 416,342 448,285 649,~\17 726,087 Ol4,8S t 556,94e 5&,,072 542,lli9 · Mll,351l 1,444,868 l,653,41il 1.923.073 l,W5,261 54t<,&,2 576,817 5711,1-100 666,194 1,537.289 l.6LC\137 l,682,lli6 1,797,a'i, 1.1164,771 l,ll30,4l!4 1.1102,77 ~ l,tl0.'>,832 1.603,585 1.92:i.8114 2.u15,316 1,960,476 55:J,61-lt612,10- ~:~ ... .. . ········ 483,4fSO 6,608, M ........ .. ... . .. 608.278 625,9111 590.3tl6 651,679 5:;6, 141 575,468 1,66(),291 l,711,275 2.091,471 l!.125,:.!91 2,120,6611 11.50><.2i 2 2,00!,~117 2,718,888 2,260,656 2,685.102 2.9.2:t.820 2,998.~6 l.8~.612 2,22tt.781 2.f>llfl.311 l/,5311,060 1,~1,52.':3 18,0dO,ll)t 1.601,375 :&l,74l,8\ll 2.~l,279 t4,40~.71Jl •2,000.81:l 25,037,336 304,827 818,9'<!9. 319,768 328,213 290.1\78 289.2ti5 303,36~ 305,91:14 292.9:lO 309.563 354,70d 34ts.427 270,079 21l8,459 314.600 S09,24't 292,701 313,970 362.0Ul 382,703 289.313 29t1.52l.l 805.1/65 304.9~1 275,591 311,078 8211,410 266,a& 379.J&, 412,605 411,1114 4.18,2&; 396,602 800,'194 ~:t.386 408,ooi; 884,378 414,687 896,41\8 404,958 291,:188 401,122 8,8fl8,9!:S4 ::Jl/2.211 *374,803 4,214,08i m,598 264,995 126,2<lll 473,857 445.247 . tmS.733 257,480 331.',465 222.003 :.03,137 347,JLO 410,U;,'2 478,053 3~5,769 855.2~il 4:13,752 507.550 374.tl:.17 420.358 466,t 42 530.697 41•4,8~8 438.784 4:18,tl51 528,094 404.~:&.; Jc64 .549 406,0tlu 563211 385.952 456.2:&tl 430,62t 628,089 458, 1911 5:t7.681 617,521 ?31,719 Mt1,8M 595,tl46 6;, 987 615.2i3 !55,:'> 20 525,584 6,8?9.79'7 470,038 4,1!88.400 ~~!:~~ ~~i:~ g~:~ ?.l.~·:.~~ l:1gg::JX 4,~.1..~~~ 1888 . ............ . (+2,346 to 2,369 m.) .. 4.193,981 4,379.454 4,521\,5112 4,650,046 5,027,160 5.080.402 4.822,412 5,890,931l 5.285,427 5,146,156 4,860,654 4.808,082 58,172.077 1881J ......... . ...... l2,369 to 2,300 m.) •• 4.52!1,746 4.421,156 4.796,136 5,u:32.870 5,294,810 3,931.020 5,241,674 5.9>'3.ll6~ 5.4:.!tl.738 5,857,772 5.4D2.800 5,495.264 61,514,4-tG \=:.:::::::::::·:::.:::::::J~:~ ::L i:A~:~~~ ::~i:g~/, i::rg:~M g::~~:l!&~ gJ::~g: g:m:~t g:i~~:;i~g:~~:~& g:rge:i:¥ g:ir~:iu f;~tti ·~~-~-~~~ 00-~-~ tlL :::::::::.::J~:= ~ ~:~ :t ~A:t~ m:m ~~:~i~ it:m ig:tt m:~~~ Zftl:i~~ g~:r!~,.~g:m ½:~gg:m 1.~:i~ 1.~~:r~ ~N~::~ 1890 ................ (3,U51 to a,113 ru.) .. *11540:!7 *lv6:J400 *106Utl95 *1145,30u 1.001.4110 112J.949 1,021,580 l,181,611 1,1115.071 1,2\H ,450 1,211,620 l,ltl5,035 13,201,820 5 IUcbmoad & Danville !'."iystem- l~P ........ .. . . ... . ......... ~3. 154 m.) . 1,161.300 1,111,3~ l,105,l(;O 1,066,275 1,054.000 Charlotte Col. & Aaurusta1888 .. .. . • .. .. .. •• .. 954,270 1,138.28,j 1,U5,855 L,li5,514 • 13ttl42u ........ .... . .. . .. ..... . 67.595 75.17i 71,tl7~ 80,880 71,49~ ll9.0tt8 7~.315 72,1116 62,153 71,424 85,116ti 72,302 104,411 IH,475 105.400 101,200 93.495 Stl,372 918,757 86,200 89,774 81,';tltl 89, 1oo 82.~00 cll54.-138 967,2{8 36,897 43,304 58.795 44,900 o0,u ~ 49.001 5tS.OSH 64.847 57,0lll 42.427 63,578 71/,1321 65,418 75.719 87.750 86,700 811,300 77,712 911.4311 89,000 83,000 71,93{> ',9.300 82.880 76,9u0 645,625 769,681 c869.986 816,419 151,079 160.059 181,1112 175,lUO lM,928 200.244 196.832 217,7:ll 171.810 19:.!,2'<!0 213,U7U 198,758 lAA,(25 205.867 217,5, 8 208,086 163,356 210.815 220.ouo 201,600 lM,512 191.444 •20-1.050 180,700 148,31\l 11:14.501 •193,950 161,ISOO 1,824,678 2.149.261 c2.341,117t 2,243,815 02,724 69,J:15 82.3i}v 89,200 42.578 65.31-0 67,181 78,700 48,940 62. tf8 72.tl75 84,3:n 56,657 73,6:ld 85.458 StS,91l:J 55,7~H 71,71'8 85,26~ 89,068 69.H90 76,21/tl ll 4.001) 101,200 67,249 71.338 90,570 91,800 251,507 2tH.398 383,505 320,617 2(l1,617 272.936 307,45~ 2tl8,llll 297,226 281,379 3:/0,"03 361,707 300,39~ 34S,4t3 841l,114:i 86 l,4&1 !353,362 891,11~5 386,1155 873,077 324.129 :·32,822 37e.l.ill4 851,51!3 8~2.849 ::155,741 ll5tt.235 354,509 29!,231 321,871 soo.011 817,609 77,663 80,268 811,004 116,968 220.161: 249.5·!\ 2\11,470 3:fl,9:,1 74,487 64,541 85,3l6 ?2.858 91:S.9d5 97,662 109,u97 , 1~06,463 202,121 172,782 241,167 217,2:~9 266,3J 4 250,245 327,145 281,809 70.349 81,82\'.I 101,774 106,0US 200,065 232,1130 281,785 274,1157 M,2ll 84.851 115.233 99,~lo 223,131 2:ffi,8112 .258,007 261,540 65,104 78.643 lOll.623 114,81/tl 78,308 101,11-·8 120,65:-l 121,!63 ~7.579 110,985 131.260 135,lu2 97,694 125,480 146.271 150,868 82,108 106.IS23 1.!S.57!•122,000 .u~:~g~,I:~::!: 219,130 2ff4, 7::111 2911,541 322,515 271.783 3t8.008 856,820 340,459 287,32a ~.400 385,518 447,131 374,728 515,644 489,408 5i7,26i 823,695 ~4.995 423.654 516,714 ~:t8 !:foNC 52:1,8131 4,560,651 402.890 434.54 J 543,617 51\1,631 494.002 431,350 470,818 544,973 454,880 50tS,577 555,473 584,158 537,468 578.IIOl 607.448 609,871:l 577.799 5'-2,531 625,931 6110,445 600,686 657,150 711,324 770,061 516,075 568,798 627,llll 6111,773 535,506 604.~2 589,032 •615,952 5,773,25:i. 6,052.951 6,1106,272 6,958,381 170,784 139,546 164.000 11:12,777 169.W5 180.900 173,013 24':',541 118.487 125,788 14~.3C4 200,5,2 · .. ...... (873 m.).. ISHO ......................... (3113 m.).. 1890 . ....................... (:163 m.). 1891• ... . . . . . ................ (368 m.).. 84.257 83.566 85.0tlO 8\1,800 92,359 Sv,9\111 se,8i o 88,700 fl3,002 76.3al 8J,51-t 1;6,850 · 57.470 60,1713 04.871l 78,tl(,0 58.042 59,l/47 61.747 70.800 49.704 53.2:.!5 M.2tl2 60,000 18&s........ . .. ... . . . .. ..... (200 m.).. 1889 ......................... (296 m.).. 1890.......................... (296 m.) .. 181ll •.. . .. . . .. . .. .......... (29tl m.) .. 57,864 68.lltli Sd,868 88.1150 69,8211 74,:183 95,76" 9:l,400 r.1,000 75,226 81.412 7S,1150 35,884 42,169 50,262 60.800 3i,776 41,0l/5 f>l.631 57,070 44.881 l::~~ 133.269 144,362 168,256 175,SOO 129,914 182,002 165.81/6 1611,7~0 133,803 170.70\i 183.027 184,600 144,983 170,718 1_90.iitl:l 187,70C 150.232 185,420 1113,n&185,050 50,674 72,467 7S,644 83 350 ' 218,198 ~J,812 2ol, l41 310,Ptll> 56.891 71,723 71.151 73,80() 52.853 88,639 81,172 85,000 46,001 72,415 8ll,05 l 90,100 224,058 203,923 287,806 2tl7,~9 251,tltll 207.385 340.676 .. ... . ... Columbia & Greenvllle- V}Ml~~~ .~.•.~~~~.~-:: .... ..(355 m.).. 1880 .......................... (355 m.).. 1800 . ......................... (S:'>5 m.).. 189 L•.. .. .. .. • .. . • • • .. .. • • • • (346 m.).. Weatern North Carollna- 1888........................ ; • (290 m.).. 1889 .......................... (28·1 m.) . 1 ~. .. . .................... (302 m.). . ~!:ti~ 3 &o~el~.atertown·&o·ii;.\ 1&18.-......................... (M::I m.J.. 1889 .................. .-....... (643 m.).. 1890 .......... . .......... . .... .. (621l m.). . 1891 .......................... (629 m.).. l!Jt. L. Alton & 'l'. H. Branchea- 1888.................... (203 to 242 m.).. 1889 .......................... (242 m.).. 1890............................ (242 m.).. Ji1~.louis•s•ouihw·e~t;ern:~42m.;. .1888 ................ (1.162 to 1,171 m .).. 1889..... . . .. ... .... (1,177 to 1,227 m.).. 1890 ........................ (1,):1~2 m.).. 18'11 • ........................ (1,22ll m.) .. St. L1111.l• & Saa Fra11.c1acol.888.............. .. (1,212 to 1,329 m.).. 78.840 78,603 97,440 118,7<J5 214,470 265.801 ~,712 84(j,802 9:➔ ,000 888.825 663.97' 63,036 72,002 8'17.128 80, 740 c972,601 7V,tSOO 1,0.12,648 267,8"8 301,041 304.4~7 333,,jfil 3.358,10.. 8.586.1116 3,948,24.0 3,\!!ffi,117~ 106,422 949,807 104.287 1.110,426 3M,A60 3.050,-123 1889..... ................... (1,329 m.).. 1890 .......................... (l,329 m.).. 396.108 401. rn5 446,485 435,349 8~~J.·ur&·oiiiuiii.:..:· ... (1,829 m.J.. 800.920 429.287 448,774 489,085 471,:.!78 l'.105,347 390.483 423,149 468.458 507,850 1888 . ............. .. ... (230 to 249 m.).. lt!tl8 ............ . .......... .... (247 m.).. 1890 ....... ..................... (:447 m.).. 1891. ...... . .................... (2:>0m.).. 64,511 60.119 87.243 90,700 84,871 72,284 77,::354 95,140 92,581 8 3,144 ll:d,i18 108,471 104,561 85,201 105.912 114,952 182,443 104,474 12tl,040 17U,9-11:' 150,1166 106.707 111,153 ltl7,925 181,595 122,154 140,964 157,081:S 165,585 18 1,204 188.091 152,,Utt 88.590 90.005 115.430 *135,1150 1,524,918 1.301,986 l.491,2U 1,824,i30 1889 ............ . ....... . .... (3,003 m.).. 1800 ............. .. ........... (3,0l!<l m.).. 1891" .... . . . . . .. .... (3,035 to a,0713 m.).. 482,421 394,117 509,283 654,S57 552,012 382.237 445,014 534.2tl8 736.729 642.552 673,5111 'ia7,478 810,359 665.098 747.481:l 789,485 743,455 620.180 758,8:i l:' 777.a&, 765,124 5!13.597 755,449 815,351 825.268 638,699 746,435 825,001 789.995 805.314 972,672 940,357 858,129 645.182 959,tl78 1.240,155 l,221,306 730,6.CS2 7.!0.862 l,Oll7,35'i 1.330,l.!2 1.376.6::lO 974.945 794,977 1,302,2s1 1,601,427 1,5d9,116 1,21:19,385 9,281,834 8.733.698 10,135.1117 11,711,787 St. Paul Minn. & Manltoba.1888 ...... ; .......... (2,651 to 3,0:!0 m.).. Southern Pacific Co.- 480.383, 488,828 4,170,715 i:::: ·: :::::::: ::)£~ltg ::if~ :t ~:~g~ t:t~:i~ ~:m:~tg i:~gi:~ri ~:~:~I ~:m:~~i ::Zill::~~ un::~ !:~3t:~~t ::g~:I~J 4,126.053 4.885.626 mL·::::::::·:::::::::::::&:g~: :t: l:~:m ~:~m~~ ~:~8~:~!~ g:~~g:~~~ a~t:~; ~:~~tit~ ::~~:mu~::~~~ u~~:~i~ tJ~i:~~~ TeXM.8 & PacUlc- 1 ~. ....... .... .......... ... (1.497 m.).. 1889 ..... . . ; ................ (1,4117 m.) .. 1890 ............ ............. (1,497 m.).. (1,497m.).. 546,675 629.795 651i,9,n 614,089 463,0dS 450.698 M 4.42tl 507,5:,ll 1888 .......... ....... (4,705 to 5.161 m.) •. 1889 ......... ... .. .. (4,8LH to 5.180 m.) .. 1890 ..... ..... . .. ... (6,667 to 7,561 m.) .. l891. .... . ............. .. .... (7,668 m.) . • l,727.832 l,IHR.103 2,427,536 3,025,792 1,917.938 1,745.758 2,60:-1,6.ii :&,682,218 228.012 256,t134 325,579 871,720 255.472 234,5Sl 32~.614 328,50~ u;Sf~D'..Paciiie.:.: .. ... ..... W1acoasia Centl'al- 1888.............. .. .......... . . (818 m.).. US89 ........... ..... ............ (828 m.J.. 1890 ................... (828 to 867 m.) . . 1891. ......... .. ............. (867 m.) .. 521,169 500,332 501 ,457 505,454 438,056 501,130 525.681 531.9tla 4.7'<!,(05 4t!O,tl32 502.11.,~ 460,G4t1 2,51 3,108 2,5:J9,243 l!.lll,C>84 2.153.~88 3.485.5~5 '1 .547,7211 3,176,8&13,\l38,tl67 2.::12,191 2.341,715 4.u43,4 L6 3,344,l/M 294.458 332,4!7 3116,1!8:i 406,576 454,246 447,u77 4tl7,16U 493,:i4B 472,927 490,425 514.9-14 51-i,461 48:;,477 5:17.23::1 57-1,8 17 5SU,'i6j 526,490 581.591 688.ti~ 660,116 2.483,268 2,544,064 11,50tl,23112.716.571" 3.79H.8t12 8.837.::162 S,447,7ti6 3.500,823 2.668,705 3,Ul4, 1::ll:', 3. -73,1/14 3,7U0,24:.! 2,740,397 2,9118,523 a.u4n,064 4, 192,5<!9 885,f\44 4411,53 , 502,351 494,ti2 : 391,422 429.7~ 50~. 170 492,3811 286.523 303.6li 2>111,38 1 341,290 394.ll07 452,495 404,618 390.705 316.221 323,202 442.717 426,527 327,60£\ 371,66 l 48::1,7;11 , 4.81.07,• 685,115 814.In5 861,49;, 9UG,5:!4 8,033,314 8.!l3i..3:,!0 4.Sofl.f!ll•& 4,578,246 I 1 • .A.ppro.nmate figures. t .And 66 miles of canal. *Fig res include railroad only. not the water routes. t Including f or the full year Scioto Talley Division and Maryland & Washington (Shenandoah Valley) Dlvalon. ,a Western & .Atlantic included from July 1, i891. c Embracing coJTections found neceSBary after monthlJ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis total■ had beea published. 42e,713 4511.4Uli 537.061 5U(l,0l 4 4,767,968 650,287 765,2fll 720,431 7 66,454 3.977.693 46,699.614 s.702.884 46.34:J,208 4.010,605 48.201,995 658.871 819.,6" 7tl2.766 •731,458 6,374,886 6.1117.803 7,3'.a7,710 7,22t ,2ti0 2,723.240 2.511.673 30,195.521 2.8~9.408 2,784.708 31,070,lS~ 8.111J8. h !<1 3,441/,574 4J,::102,481 4,2:,!tl.72!:l •.•• . . .• • •••. . .• 341,243 4hJ,6"ti 457.745 451,641 277,635 355,3811 480.00 7 *454.286 3,889.566 4,21l 7,1l07 f>.251l.5l>9 5.ltl5,7:i5 New Jersey Junction Railroad Co. FIRST .MORTGAGE 4 PER CENT BONDS, DUE 1986. GUARANTEED PRINCIPAL AND INTEREST. BY 'JUE New York Central & Hudson River Railroad Co. The New Jersey Junction ~a,ilroad connects all the railroads centering in Jersey City, Hoboken and Weehawken, affording facilities for the interchange of business between them. Starting from the terminus ·of the West Shore Railroad, it extends southerly to the Delaware Lackawanna & Western, the New York Lake Erie ~ Western and Pennsylvania Railroads, respectively, and is the only available line for the transfer of passenger and freight traffic among all these companies. A part of its line is also used by the Erie Company as the only railway furnishing means of reaching its coal and oil docks at Weehawken and those of the Delaware & Hudson Canal Co. adjacent thereto. Under authority given by a special act of the Legislature of the State of New Jersey, the Railroad is leased for a period of 100 years from July 1, 1886, to the New York Central & Hudson River RR. Co., which company has executed a guarantee of principal and interest in the following form o~ each of the bonds: " For value received, The New York Central & Hudson River RR. Co. hereby guarantees the punctual payment of the principal and interest of this bond at the time and in the manner therein specified, and covenants on default in payment of any part thereof by the obligor, to pay the said principal and interest of this bond, as the same shall become due, upon the demand of the holder thereof:" "In witness whereof, the said ~qmpany has caused_its corporate seal to be hereto .affixed and attested by its Secretary, and this instrument to be signed by its President or one of its Vice-Presidents, this 30th day of June, 1886." '"r he bonds cannot be drawn or compulsorily redeemed prior to maturity. For Sale by- WORDEN & FANSHAWE, 9 Wall Street, New York. GUARANTEED https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STOCKS COMMERCIAL & FINANCIAL .CHRONICLE. Every CHRONICLE subscriber for the year is .riven without any charge whatever(1.) Tle State and City Supplement now just issued for the first time (containing 184 pages), a new edition of which will be issued several times each year. Investors' Supplement (Railroad and Miscellaneous. Seeurities,J containing 160 pages, which is revised and issued (2.) The every alternate month. Thus the CHRONICLE with its SUPPLEMENTS contains, and furnishes its Subscribers, a mass of news and information (much of it not accessible through. any other medium) which no in;vestor we think will feel safe without possessing .. 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Buy and sell Sterling ~d Continental Exchange and Cable Transfer.:3; grant Commercial and Travelers' Credit-3 available in any part of the World ; i ssue drafts on, and make oollections in, Chicago and throughout the Dominion of Canada. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LONDON OFF.ICE, No. 2 -2 ABCHURCH LANE. GPPENHEIM & [E~tablished 1862.] BANKERS AND BROKERS, 35 New Street, MEMBKKS and 4 E~change Court, :N. Y. Stock Excbanire, N. Y. Cottoa ]bi:cbanare. c•1ca1ro Board of Tnule. TURNER & SON, C. J. 16 & 1 B B:road Street, NEW YORK. Transact a General Ban.king Business, in.eluding the Purchase and Sale of Stocks and Bonds for Cash or on. Margin.. BUY AND SELL INVESTMENT SECURITIES. COLL . J. TURNER, Member N. Y. Stock Exchange. LA COLL J. TURNER, JB. & Co., MoNTAGNE, CLARKE BANKERS A.ND BROKERS, 44 Broadway, New York. E. L.A. MONTAGNE, JR., HERMAN CLARKE, lMmmERS NEW YORK f STOCK EXCHA.NGB. Chicago Correapondents: WALLACE B. SMITH, j MEMBER NEW YORK 1 PRODUCE ExCHA.NGB London Correspondents: XESSRS. SPERLING & ELIN, THE WE4RE COIIISSION CO., 14 Cornhill, E. C. 218 La Salle Street. . CABLE ADDRESS: "YARACLARK NEW YORK." BOODY, McLELLAN & CO., BANKERS, No. 57 BROAnWAY., NE"W" YORK. All Sec11rities Dealt in at the New York Stock Exchange Bought and Sold either for Cash or on Margin. R.AILWA.Y BONDS ~ND OTHER INVESTl'tlENT SECIJRITIES A. SPECIA.LTY. Accounts Received and Interest Allowed on Balances, which may be Checked for at Sight. P. 0 . Box 4-4-7. DAVID A. BOODY. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CHARLES W. McLE LLAN. HENRY T. BOODY. JOHN MUNROE & co., FOREIGN BANKERS, 82 NASSAU STREET, MIJit~t:»1~J~E NEW YORK. No. " POST OFFICE SQUARE, BOSTON. No. FURNISH EXOHANGE FOR COMMERUIAL AND TRAVELING PURPOSES ON -Pa~is, London, Berlin, Zurich and St. Gall. CABLE TRANSFERS ON PARIS. Traveling Credits in Pounds Sterling and in Francs. HOUSE IN PARIS: MUNROE & CO., _" Hy -whom Accounts -with American Banks and Bankers are opened on. Favorable Terms. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Spencer Trask & Co., Bankers, 16 and 18 Broad Street, New York. 2o Congress Street, Boston. PROVIDENCE, ALBANY. S and 7 Exchange St. State and James St. Members New Yo.rk and Boston Stock Exchanqes. Commission Orders Executed on Either Exchange. Direct Private Wire to Eacli Office. DEALERS IN t,T A TE, CITY AND RAILROAD BONDS. After May 1st, 1892, Ne"' York Office will be at 10 Wall St., Aator Bnlldlag. . _ . . - ~ .-;< i •·'L - ;· , .. -t ·: · · •• ·.. .·- . i · - ·: ) : ·=• 11111~~n11l~~~~1~~~ 1m1r1H1 1 DREXEL~~rl -ilRGII ·.:&~~-oo.:: 3 1 Wall St.. Cor. of Broad St.,.. · .J , •• NE·· w- -YOR~DREXEL & Co., DREXEL, HARJES & Co., Cor. of 5th & Chestnut Sts., 31 Boulevard Haussmann, PHILADELPHIA. PARIS. DOMESTIC & FOREIGN BANKERS. DEPOSITS RECEIVED SUBJECT TO DRAFT. Securities Bought & Sold on Commission. INTEREST ALLOWED ON DEPOSITS. _FOREi~ N EXCHANGE, COMMERCIAi 'CREDITS, ~b .r.-- ......:c .J _,_ MESE ~S. J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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