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OF THE
C ommercial &
iwAwciAL Ç hrowicle.
[Entered according to act of Congress, in the year 1891, by Wm. B. Dana ft Co., In the office of the Librarian of Congress, Washington, D. C.]
YOL. 53.
NEW
YORK, JULY 25, 1891.
•
INVESTORS*
SUPPLEMENT.
W 1 L L IA H I B . D A N A A CO., P u b lish ers,
102 William Street, New Yofh.
RANGE OF STOCK PRICES SINCE 1887.
On this and the following pages we present tables to
show the range of prices for stocks on the Stock
Exchanges of New York, Boston, Philadelphia and
Baltimore for the last three and a half years, or since
the 1st of January, 1888. The tables give for each of
the three calendar years the highest and lowest prices
made in those years, with the dates when such high
and low points were reached, and the same information
for the first six months of the current year.
Speculation on our Stock Exchange now and for
some time past has been very dull, but there is consid
erable interest nevertheless in tabulations of this kind,
and besides the figures are useful as a matter of record
and for reference. Those who as investors or specula
tors have a personal interest in the fluctuations will
find much food for study in the changes which these
statements indicate, for price movements of magnitude
are usually the result of some controlling factors affect
ing either railroad property alone or the general
business situation. For the last twelve months or more
- ....-...........................
the course of prices has been distinctly downwards,
though of course there have been exceptions to the
rule, as there always are. Looking back, it seems clear
now that no other result was possible, for during these
twelve months we have witnessed an unusual combina
tion of adverse factors.
First came the reaction from the delusive boom n
stocks in the spring of 1890 based on a prospective in
flation of prices to result from silver legislation. A
short wheat crop and then a short corn crop further
helped the downward movement.
Then came the
period of monetary stringency, the heavy selling of our
securities for European account, the financial panic in
the autumn, the embarrassment of the Barings, and
the complete unsettlement of confidence both here and
abroad. These circumstances also operated to check
mercantile enterprise and hence trade and industry
through the half-year of 1891 have been in a very quiet
state. The iron trade has gone through a period of
great depression, all the more marked because contrast
ing with a period of extraordinary activity in the
months immediately preceding. There have also been
reductions of dividends by some leading companies like
the Rock Island, the Illinois Central and the Burling
ton & Quincy.
RANGE OF STOCK PRICES AT LEADING CITIES DURING YEARS 1888, 1889, 1890 AND TO JUNE 30 IN 1891.
Stocks .
Year 1888.
Lowest.
NEW
TORE.
RA IL R O A D S.
Highest.
Year 1889.
Lowest.
Highest.
Year 1890.
Lowest.
Highest.
Jan. 1 to June 30,1891.Lowest.
Highest.
Albany & Susquehanna............ 145 Jan. 19 155 Nov. 21 154% Jan. 9
June13 156% Deo. 27 175 May 8 102% Mar. 31 167% May 8
Atchison Topeka & Santa Fe___ 5338 Deo. 5 991s Feb. 20 26% Oct. 10 177
58 Jan. 2 23% Nov. 15 50% May 15 24% Mar. 10 34% Apr. 25
Atlantic & Pacifie.......................
7*3 Apr. 3 10% Jan. 10 4 Oct. 11
8%
Jan.
4% Feb. 27
9% May 15 4% Mar. 19
6 Jan. 12
Buffalo Rooh. & Pittsburgh........ 32 June 20 50 Jan. 20 17% Deo. |26 30% Keb. 14
18 15 Jan 7 41 Apr. 28 29 Jan. 2 37% Apr. 20
Burlington Cedar Rapids & No. 20 Aug. 8 29 Feb. 2 20 Jan. 23 30 Jan. 11 20
Nov.
26
35
Feb.
10
20
Apr.
4
32
June 2
Canadian Pacific.......................... 51 % Dec. 5 62% Jan. 3 47% Mar. 16 75 Deo. 31 67 Nov. 19 84% Aug. 16
72% Jan. 6 80% Apr. 17
Canada Southern......................... 45*3 Apr. 2 57% Oct. 1 50% Jan. 24 57%
Deo.
20
42
Nov.
15
61%
JunelO
48
Mar.
7
52% Apr. 27
Central Iow a............. .................. “2 Jan. 16 110% Dec. 14 t 9 Jan. 31 115% Feb. 7
73*3 Apr. 2 95% Deo. 24 92% Mar. 16
Oct. 1 90 Nov. 19 1*28% May 14 105% June 29 122% Apr. 28
Central Pacific............................. 26% Mar. 26 37% July 30 33 Mar. 29 131
36% Jan. 16 26% Nov. 18 36% May 17 29 Feb. 24 31% Apr. 30
Chesapeake & Ohio.....................
1 Mar. 26 1 22% Oct. 1 § 15% Mar. 2 §28 Nov. 25 § 14% Deo. 8 27% Jan. 2 15%
June 29 19% Feb. 0
Do
1st pref........
33s June 5 120% Oct. 1 §56% Feb. 26 §69% Aug. 9 §36 Deo. 8 66% May 7 44
2 54% Feb. 10
Do
2d pref........
1% Mar. 26 Î 21% Oct. 1 §29% Feb. 27 §46% Nov. 25 §23% Deo. 8 46% July 18 26% Jan.
May 20 34% Feb: 10
Chicago & Alton.......................... 132 Sept. 19 140% Feb. 10 125 Mar. 26 140 Jan. 23 123 Nov. 12 135 Jan. 24
123
May
12
130 Jan. 5
Do
pref................... 157 Deo. 13 165 Jan. 25 160 Jan. 5 165 June 28 160 Jan. 6 165 Apr. 10
160 Apr. 21 165 Feb. 24
Chicago & Atl., Ben. Trust reo..
6%
Feb.
28
15%
JunelO
Chicago Burlington & Quincy... 103% Dec. 5 130% Jan. 27 89% Mar. 26 111% Jan. Î.5 80 Nov. 15 111% May 10 75% Mar. 7
Chicago & Eastern Illinois........ 40 Mar. 19 44% Oct. 5 ¡30% Deo. 13 49% Aug. 12 26% Feb. 3 i 46% July 15 41% Jan. 3 93% Jan. 14
67% May 1
Chicago & Eastern Illinois, pref. 89*3 Mar. 2 99 Oct. 5 77 Deo. 13
Aug. 13 70 Feb. 3 95 July 14 83 Jan. 2 97% vi ay 1
Chicago Milwaukee & St. Paul.. 59% Dec. 10 78 Feb. 24 60% Mar. 16 107%
75% June 6 44 Nov. 15 79% May 26 50% Jan. 2 66% May 1
Do
do
pref. 98*3 Junel2 117 Apr. 27 97 Feb. 25 118 Sept. 3
Dec. 8 123% May 26 105% Jan. 3 115% May 1
Chicago & Northwestern............ 102% Apr. 2 116 Sept. 4 102% Mar. 27 114% Sept.12 99%
98 Deo. 8 117 May 26 102% Mar. 9 111% Apr. 25
Do
do
pref... 136% Dec. 4 146 Sept. 29 135 Mar. 29 144% Sept.12 134
11 148 May 6 130 Mar. 18 138% Jan. 12
Chicago Rock Island & Pacific.. 94% Dec. 19 114% Jan. 27 89% Mar. 26 104% Sept. 9 61% Dec.
21 98% Jan. 4 63% Mar. 6 80% May 1
Chicago St. Louis & Pittsburg.. I lls July 23 17% Sept.29 14 Jan. 15 19% Feb. 6 12% Nov.
Nov. 14 18% Feb. 26
Do
pref. 29 >s Mar. 31 41 Sept.28 33 Jan. 21 45% Dec. 31
Nov. 12 53 Feb. 26
Chic. St. Paul Minneapolis & Om. 31% Dec. 5 42% Sept.28 30% Mar. 18 37 May 23 37
19 Nov. 10 36% May 10 22 Mar. 10 29 Apr. 27
Do
do
pref. 92 Deo. 31 110% May 1 89 Feb. 13 101% Sept. 9 75
Nov.
15 100% May 10 77% Jan. 29 86% Apr. 22
Cincinnati Hamilton & Dayton. 70 June 1 76 May 15
Olu.« Indian rip. St« L, <&Liiio... . . . 6513 Apr. 2 95 Oct. 22 91% Jan. 9 118 % July 25
....................... ....................... ............... ........ ............... ........
Cincinnati Sandusky & Clevel’d.
Cincinnati Wash. & Baltimore..
% Apr, 3
2% Oct. 28
2% Jan. 25
3% Jan. 13
Do
do
pref.
3 Nov. 27
6% Feb. 24
1 Apr. 3
4% Dec. 28
4% Jan. 3
6*4 Jan. 13
Clev. Cinn. Chic. & St. Louis
58% July 13 78% Oct. 15 55 Nov. 10 80% JunelO 57% June 29 66% May 5
Do
do
pref.
96 July 12 103% Aug. 12 86 Nov. 10 101 May 12 91 Mar. 23 98 J an. 0
Cleveland Columbus Cin. & ind. 42is Apr. 2 65 Oct. 1 55% Jan, 4 80 July 31
Cleveland & Pittsburg guar....... 153 Jan. 5 159% Apr. 25 155 Jan. 11 161% July 24 150 Dec. 2-* 157 Jan. 6
144 June11 152 ja n . 28
Columbia & Greenville pref....... 12 Feb. 11 25 Apr. 19 20 Feb. 2
Nov. 4 25 Apr. 30 35 May 9
Columbus Hocking Val. & T ol.. 17 Mar. 21 36% 8 ep t.ll 11 July 22 30
28%
Feb.
7
18%
Jan.
13
32%
Sept.
2
23% June 30 29 % May a
Del. Lackawanna & Western ... I 2313 Apr. 3 145% Oct. 1 134 % Apr. 3
Sept. 6 123% Nov. 15 149% July 21 131 Jan. 2 140% Feb. ®
Denver & Rio G rande................ 15 July 2 23 Jan. 6 14% Deo. 30 151
18%
Sept.
9
14%
Apr.
1
21%
Sept.
2
15 June27
Jan. l j j
Do
<1»
nref. 4314 Nny, 23
11 40I4 T -n 31
Ont 1 t 4-®* M>»v 9R «1 In * no-. OQ 1 rn, .Tnn»9<i 20%
« ¡ ’Vo
-^2
1st assessent paid.
16th assessment paid.
i Reorganization certificates.
§ Voting trust certificates.
4
2
INVESTORS’
SUPPLEMENT.
IVoi.,
l u i,
BANGE OF STOCK PRICES AT LEADING CITIES DURING YEARS 1888, 1889, 1890 AND TO JUNE 30 IN 1891—Co n t in ’ d
Stocks .
Denver & R o Grande Western
Denver Texas & Fort W., c e r t .
Des Molnps & Fort Dodge..........
East Tenn. Virginia & Georgia .
Do
do
pref.
East Tenn. Va. & Ga. R’y new
Do
do
1st pref.
Do
do
2d pref.
Evansville & Terre Haute........
Fort Worth & Denver C ity........
Great Northern, pref..................
Green Bay Winona & St. P au l..
Harlem..........................................
Houston & Texas Central..........
Illinois Central.............................
Do
leased line stock
Indiana Bloom. & Western, new.
Keokuk & Dei Moines, pref___
Kingston & Pembroke............... Lake Erie & Western..................
Do
do
p r e f.......
Lake Shore...................................
Lons Island
Louisville & Nashville................
Louisville New Albany & Chic..
Manhattan Railway....................
Do
l s t p r e f .. . .
Do
com m on ....
Do
consol..........
Manhattan Beach C o.................
Memphis & Charleston...............
Mexican Central..... ....................
Michigan Central........................
Milwaukee Lake Shore & West..
Do
do
pref..
Minneapolis & St. Louis.............
Do
do
pref___
Missouri Kansas & Texas..........
Missouri Psrciflo...........................
Mobile & Ohio..............................
Morris & Essex............................
Nashville Chat. & St. Louis.......
New York Central & H udson...
New York Chicago & St. Louis..
New York Chic. & St. L., p re f...
Do
do
new.
Do
do 1st pref.
Do
do 2d pref.
New York Elevated..................
New York Lackawanna & West.
New York Lake Erie & W est....
Do
do
pref.
New York & New England........
New York New Haven <te Hartf.
New York & N o1them, pref.......
New York Ontario & Western...
New York Susq. & West
Do
do
pref___
Norfolk & Western.
Do
do
p r e f....
Northern Pacific...
Do
p r e f....
Ohio & Mississippi.
Do
p r e f....
Ohio Southern.........
Oregon Short Line.....................
Oregon Short Line & Utah Nor.
Oregon & Trans-Continental___
Peoria Decatur & Evansville___
Philadelphia & Reading.............
Pittsburg Fort Wayne & Chicago
Do
spedar..
Pittsburg & W estern....
Do
do
pref.
Rensselaer & Saratoga..
Richmond & Allegheny.
Richmond & Danville..
Richmond & West Point
Do
pref..
Rio Grande Western___
pref
Do
Rome Watertown & Ogdens burg
St. Louis Alton & Terre Haute..
Do
do
prf
St. Louis Arkansas & Texas......
St. Louis & San Francisco..........
Do
do
p r e f......
Do
do
1st pref.
St. Paul & Duluth.......................
Do
pref................
St.Paul Minneapolis & Manitoba
Southern Pacific Co....................
Texas & Pacific..........................
Toledo Ann Arbor & N. M........
Toledo & Ohio Central...............
Do
do
pref_____
Union Pacific.............................
Union Pacific Denver & Gulf ..
Virginia M idland.......... ...........
Wabash St. Louis & Pacific.......
Do
do
pref
Wabash, new ..............................
Do p r e f...........................
Wheeling & Lake Erie, com . . . .
Do
*o
pref.......
Wisconsin Cer trai Co............
EXPRESS.
Adams..........................
Am erican....................
United States..............
Wells, Fargo &Co.......
Lowest.
Highest.
Year 1890
Highest.
Lowest.
Jan. 1 to June 30,1891.
Highest.
10% Mar. 23 17% Aug. 7 11% Jan. 8 20 Mar. 4
15 Jan. 25 40% Nov. 2 1 3078 Mar. 1 38% May 8
6 May 13
8% Jan. 31 10% Oct. 13
7% Dec. 20
4 Deo. 4 9% May 14
8
55
17%
84
19
Deo. 4
Mar. 22
Apr. 2
Mar. 22
Dec. 6
7 Oct. 30
212 Jan. 4
12 May 16
113 Dec. 3
93% Jan. 5
9% Mar. 28
18 Sept.24
26% Dec. 8
12% Mar. 22
40% Apr. 2
85% Apr. 2
87 Apr. 2
50% Apr. 2
30 Apr. 18
77% June 12
8 Nov. 27
47 Julv 27
12% Deo. 19
72 Apr. 2
48*9 June IS
83 Mar. 27
378 Mar. 28
9% July 6
10 June 11
66% Dec. 5
6 >2 Mar. 29
135 Jan. 3
71 Apr. 2
1021si Apr. 2
Lowest.
4% Feb.
20
109% Mar. 4
10 May 31
70 Apr. 24
18 Deo. 19
99% Deo 2i
99% Nov. 15
117% May 28
7 Feb. 7
14% Mar. 5
11 Jan. 14
78 8ept.l2
15 July 1
156% May 29
104 b> Dec. 9
110% Feb. 2
92 Nov.
60 Mar.
1778 Feb.
16 Nov.
83 Deo.
84 Sept.
100 Dec.
4 Nov.
8% Nov.
9% Apr.
53 Deo.
13 Jan.
140 Deo.
90% Deo.
95% Deo.
32
28%
69
155
140
Oct. 1
Oct. 1
Aug. 11
May 14
Jan. 12
109% Jan. 17 116% July 8 110 Apr.
25% July 22 30% Sept 11 16 Nov.
61 Jan. 4 71% Apr. 26 46 Dec.
41% Apr. 1 53% June25 28 Nov.
241 Deo. 20 279 Sept.2' 244% Jan.
15 Mar. 6 23% JunelO 20 Jan.
14% Jan. 5 22% Nov. 26 13 Nov.
5% Nov.
7 Deo. 30 9% Feb. 12
30 Deo. 30 37 Sept.23 21 Nov
14% Julv 15 22% Nov. 18 13 Nov.
47% Mar. 11 61% Nov. 16 48 Nov.
25 Jan. 5 36% Sept. 5 1 16% Nov.
58% Mar. 16 78 % Sept. 3 55 Nov.
19% Mar. 19 244i Sept.ll 15 Nov.
83% Apr. 5 90 June 27
12 Jan. 24 18% Dec. 10 12 Dec. 10
39 Apr. 23 58 Mar. 6
49 Aug. 16 fiO Deo. 18 16 Nov.
28% July 18 164% May 17 33^fl Jan.
17 Dec. 30 28% Feb. 13 13 Nov.
36 Deo- 30 50 Jan. 15 26% Deo.
148 Apr. 1 158% Sept.14 148 Deo.
140 Feb. 1 144 Mar. 7
17% Apr. 8 29 Juno 6 25% Jan.
30 Jan. 31 47 May 8 34 Sept.
175 Feb. 15 195 May 17 172% Dec.
14% Jan. 8 24 Deo. 19 21 Apr.
38 Jan. 9
175 Dec. 10
16% Oct. 1
204% June21
29% Oct. 24 19% July 18 27% Feb. 13 13% Nov.
87% Deo. 12 76 Jan. 26 81% June 7 60% Dec.
15 Deo.
40 Mar.
82% Feb. 13 94% July 25 93 Jan. 3 107 Dec. 12 95 Deo.
35 Mar. 27 48% Oct. 1 40 Deo. 20 50% Feb. 6 21 Dec.
73% Mar. 29 87 Dec. 13 90 Feb. 4 124% Sept. 24 110 Dec.
6% Dec. 14 1678 Jan. 16 3 78 June 28 10% Jan. 11
8% Dec.
22% Dec. 3 36% Jan. 5 14 Nov. 30 30 Junel2 16 Jan.
61% Dec, 5 74% Oct. 5 37 Dec. 4 6678 Jan. 2 36% Jan.
105% Apr. 3 116% July 19 85 Deo. 4 114% Jan. 12 65 Nov.
35% Nov. 14 64% Aug. 4 24% July 17 40% Jan. 14 19 Deo.
89 Mar. 29 105 Jan. 28 78% Nov. 22 95% Jan. 18 78 D^c.
94 Apr. 2 114% Jan. 23 92 Apr. 17 121% Oct. 3 SO Dec.
19 June 4 27% Aug. 1 21% Apr. 9 37% Oct. 14 22% Oct.
II187e June 6 28% May 1 17% Mar. is 23 J a n .14 12 Dec.
21 Dec. 12 27 Oct. 11 21 Jan. 28 35% Sept. 9 1 12 Nov.
23 Sept. 5 35 Sept.21 30 June21 40 Nov. 29 42% Feb.
35 Aug. 13 56 Sept.20 50 Mar. 15 73% Deo. 10 68% Feb.
48 Apr. 2 66% Oct. 19 56% July 8 71% Nov. 18 40 Dec.
17 Nov.
35 Oct. 23 51 Jan' 30 30 Feb. 8 39% Feb. 11 37% Nov.
12 Mar. 27 16 Jan. 3 12%Jaa. 3 18% Sept. 12 16 Jan.
21 Mar. 24 30 May 1 24 Jan. 9 34% Sept. 9 31% Jan.
8% Deo.
15 Deo.
25% Nov.
44% Jan. 3
62 Oct. 5 59% Jan. 5 73 % Sept. 12 63 Nov.
21% July 8 35 Deo. 20 14% Nov.
Apr.
Mar.
Jan.
Jan.
12
22
4
19
6% May
1
98% Sept.ll 90 Jan.
6 Sept.
12 May 10
58% Oct. 23 49 Jan.
16% Apr. 23 13% Mar.
92% Oct. 1 84% Mar.
80 Jan. 10 51% Jan.
104% Jan. 5 91% Jan.
3% Ocr.
9% Apr. 30
18% Apr. 30 7 % Oct.
18% Jan. 5 9 D pc.
89% Jan. 3 64% Mar.
13% Jan. 27
8 Jan.
147 Nov. 27 144 Jan.
85% Sept. 4 8178 Jan.
111 Sept.28 10478 July
29% Nov. 22
163% Jan. 10
8% Aug. 16
190 June 8
19 Apr. 2
55 Jan. 6
137
106%
67
128
2
11% Mav 21
5% June 26
8% Jan. 14
81 May 21 52 Mar. 1C 66 Jan. 14
27% May 21 13% June30 19% Ian. 14
127 June27 111% Feb. 5 l i 9 Apr. 2
10212 Jan. 9 112 Deo. 14
22 »8 Mar. 9 30% Oct. 1
5212 Junel3 67% Oct. 1
29% Mar. 22 53% Oct. 5
215 Jan. 4 244 Deo. 21
20 Mar. 27 24% Aug. 2
14 June13 19 Sept.12
7% Mar. 28 11% Sept. 12
26 Apr. 2 37% Sept.29
15% Mar. 24 23% Sept.13
41% Mar. 31 58% Sept.19
1978 Apr. 3 29% 9ept.ll
42% Mar. 31 64 Sept. 11
17% Mar. 27 26% Sept.ll
80 Dec. 17 84 Oct. 27
10 Mar. 22 17% Sept.29
13% Mar. 26 46 Nov. 12
17% Apr. 2
15% Apr. 2
§44% Deo. 6
148 Nov. 22
140 Jan. 12
Highest.
8% Jan. 23 11% Sept.i2
6% Dec. 9
63 Jan. 28 76% Oct. 15 55 l>ec. 24
Apr. 24 25% Junel4 13% Nov. 10
86 Jan. 30 99 Deo. 27 96 Jan. 17
20 Jan. 4 21% Jan. 2
71 Feb. 19 86 JunelO 60 Deo. 9
2% Dec. 18
12 July 25
7% Feb. 8 ? % Jan. 7
237 Dec. 13 235 Jan 11 255 Sept. 14 250 Feb. 19
1 S en t.ll 13% Jan. 2
23 Feb. 6
2 Dec. 10
123% Aug. 8 106 Feb. 13 11«% Dec. 21 85 Nov. 10
98% June 7 94 Feb. 15 100 Nov. 4 80% Dec. 3
19% Sept.12 10 Jan. 3 12 Feb. 2
7 Oct. 8 11 Nov. 1 3% Nov. 17
18% July 18 30 N tv. 1 17 Nov. 18
9
eo. 13 10 Oct. 16 7% Sept.10
18 Sept.24
37% May 1 25% Dec. 6 32% Sept. 9 11 Oo*. 14
19% Sept.29 16 Jan. 26 20% Aug. 9 10% Nov. 15
55% Oct. 1 51% Jan. 4 66% Sept.ll 44 Dec. 8
104% Oct. . 1 99% Mar. 18 108% Dec. 21 101 Dec. 8
95 June25 89% Dec. 18 .96% Mar. 4 82 Dec. 8
64% Jan. 9 56% Jan. 4 87% Nov. li 65% Nov. 19
45 Oct. 12 37% Jan. 7 49% Mar. i 17 Dec. 31
11 % Oct. 2
83 Oct. 25
27% Oct. 3
90% Sept.ll
46% Jan. 3
86 Juna 10
{ l0 78 May 19
275 Oct. 7
7 May 16
120 Jan. 31
99% Mar. 27
72
6%
251
2
90
90%
12% May 12
33% May 12
13% May 2
24% Jan. 18
19% May 15
68 Jan. 31
114% June 5
95 July 25
92% Mav 5
54% Mar. 10
6% Jan. 10
20 Jan. 3
7 Jan. 28
10 Apr. 28
12% May 19
54% Mar 6
105% June3
8 « Jan. 3
69% June 29
18 Mar. 9
9% Apr. 21
30 May 1
13% Apr. 22
io Apr. 28
15% Feb. 5
61% Apr. 28
113% Feb. 9
96% June 30
82% May 1
29% Apr. 27
117 May 16
7 Apr. 8
64 Apr. 7
31% June 4
104% June 6
104 Jan. 23
117 Jan. 23
8 May 3
20 May 9
* 20 % July 16
79% May 10
31 Oct. 22
156% June 9
108 Sept. 2
111 June 3
96% Jan. 27
3% June 9
33 Mav 20
18% Mar. 21
89 Juue26
70 May 21
98% May 19
3% Mar. 18
8 Mar. 18
11% Mar. l-i
60% Jan. 2
26 Jan. 2
140 June 13
93 Jan. 21
99% May 19
109 Apr. 6
5 Feb. 10
40 Jan. 30
2 i% Ja n . 4
96 Feb. 3
93 Jan. 15
111 Jan. 14
6% Jan. 10
12% Jan. 14
16% Apr. 30
73% Apr. 27
4 4 % June 3
148% Mar. 4
110 May 29
10 i% Feb. 3
Jan. 2
Jan. 7
Juue10
Jan. 16
Mar. 9
Jan. 8
12% Mar. 31 20% Oct. 26 15% July 13 19% Feb. 4
9% Nov. 24 18% Jan. 27 11% Jan.
611a July 6 7678 Oct. 15 66% Sept. 3 77 Feb. 4 50 Nov. 2 4 75 May
57 Jan.
28 Mar. 31 45 Oct. 24 34% July 18 44% Feb. .2 19 Deo. 8 42% May 5 23 Jan.
COAL AND MINIM Q.
Cameron Coal.......................... .
15 Apr. 2
Colorado Coal <&Iron.................. 29% Dec. 5
Columbus & Hock. C. & Iro n .... 17 Mar. 22
Consolidation Coal...................... 18% Apr. 19
Homestake Mining....................... 10 Jan. 24
9% Dec. 12
Maryland Coal.............................
* Trust receipts; ail assessments paid.
§ Trustee certificates.
||New stock.
Year 1889.
Year 1888.
Lowest.
155 Oct. 4
113 Nov. 14
82% Oct. 11
143 June23
144%
109
73%
134
Jan. 2 153% Dec. 18
Jan. 10 120% June 6
J m . 4 95% June 5
Jan. 19 146 J u n éis
4 Nov. 19 34% Apr.
21 Apr. 17 3978 Dec.
15 July 26 21 % Feb.
23 Nov. 30 28% Jan.
7% Apr. 24 14 Jan.
l'%Ser>i\ 7 16 Mar
Certificates, all assessments paid,
if Ex-rights.
25%
38%
30
28
13
15
Deo.
Feb.
Jan.
Jan.
Dec.
Feb.
28
17
9
17
24
fi
22
10
2
16
30
8
140
110
61
135
Nov. 12
Sept.23
'»ec l i
Jan. 7
June 6 14
56 Jan. 2
52 JunelO
24 May 3
48% May IS
157 June 9
19
28%
87%
24%
55
120
46%
130%
May 21
May 21
May 10
Deo. 31
Julv 24
May 9
May 13
14% May 9
36% May 15
67 May 15
105% May 24
38% June 16
99 July 18
115 Jan. 9
37% Apr. 22
24% May 2o
42% June13
6 8 % June11
95 Aug. 19
6 8 % Jan. 28
38% May 8
53% May 29
16% Jan. 8
S3 Jan. 8
15 May 12
31% Ma> 14
42% May 19
79% May 19
36% Jan. 10
15«
120
90
150
Jan. 31
May 14
Jan. 31
June16
% Dec. 17
5% Jan. 7
29% Dec. 8 54% June 6
15 Jan. 10 33 July 16
22% Jan. 29 27% Aug. 15
7% Jan. 29 11% June 17
16% Nov 6
I " D c.
t Under the rule, cash.
110 Mar. 10
22% Apr. 28
5fi% Apr. 28
41% Jan. 15
271 Feb. 3
22 Apr. 8
18% Mar. 17
11% Feb. 17
40% Feb. 18
16% Jan. 14
57% Jan. 14
30 Jan. 14
74 Jan. 30
19% Jan. 17
Jan.
2 18
Feb.
Jan.
5 30
Apr. 28
14% Jan. 7
2778 June29
149 Jan. 22
139 Apr. 8
30 May 12
41 May 12 28
185 Mar. 6 175
24% Jan. 27
9
13
5
25
14
7
2 14% Feb. 10
2 70 Jan. 29
2 31% Feb. 10
115 June 5 104 Jan. 6
29% May 19 17% Mar. 7
69% May 23 47 % J une 29
52% May 16 32 Mar. 9
270 June16 1T226 Mar. 26
32 May 19 16 F* b. 5
22 % May 20 15 June26
9 May 10 7 Juue2o
34% May 12 27 June20
24% May 6 13% Mar. 12
66 % May 20 50% June29
3 h % JunelO 21% Jan. 2
86 May 14 62 Juue29
27% Aue. 28 15% Mar. 11
24
92*« Apr.
8% Jan.
275 Feb.
2% Feb.
103% Jan.
96 May
7
22 Apr. 23
35 May 1
152% Mar. 2
139 Apr. 8
Jan. 8 40% June 17
Mar. 10185 May 5
12 78 June 26
66% June 26
23 Jan. 2
55% Jan. 2
109 May 22
26% Jan. 2
120 Jan. 6
9% Feb. 26
19%
76%
44
74%
114%
36
55 Feb. 16
24 Jan. 15
85 Jan. 5
100 Jan. 2
23 Jan. 16
12% Juue27
13 June30
45 Apr. 6
78 Juue 8
41% Jan. 26
17 June29
70 Jan. 16
34 June30
97 June 12
111 Feb. 6
33% June 15
16% Jan. 14
20% Jan. 13
61 Jan. 13
88 Feb. 16
52% Apr. 28
24% Jan. 14
8% Mar. 10
1678 J an. 2
29% Jau. 26
67% Jan. 2
17 June26
11 % Apr. 25
24 J une15
37% May 5
79% Apr. 27
23% Jan. 14
142
113
50%
137
Jan. 10
Jan. 7
June 5
Jan. 9
Feb.
Feb.
May
Apr.
Apr.
Apr.
122% Jan.
12% May
150
123
70
145
7
10
1
30
18
29
3
23
Feb. 13
Feb. 5
Jan. 8
Feb. 3
1 Feb. 5
1 Feb. 5
32% June26 39% Mar. 16
15 Mar. 9 19% Jan. 14
25 Jan. 7 26 Jan. 7
9% Apr. 9 10% June 6
15 Jan. 2 19% May 27
J 2d subscription paid.
LNYESTOKS’
July, 1891.]
SUPPLEMENT.
HANGE OF STOCK PRICES AT LEADING CITIES DURING YEARS 1888, 1889, 1890 AND TO JUNE 30 IN 1891—C o n c l ’ d
New Central Coal...........
Ontario Silver Mining...
Pennsylvania Coal........
•Quicksilver Mining.......
Do
pref.
Tennessee Coal & Iron..
MISCELLANEOUS.
American Cattle Trust..............
American Cotton Oil Co.............
Do
do
pref.
American Cotton OH Trust------Do
Trust receipts.
American Telegraph and Cable.
Canton Company............. ..........
Chicago Gas..................................
Consolidated Gas.........................
Delaware & Hudson Canal........
Distilling & Cattle Peed. C o.. . . .
Edison General Electric Co........
Laclede Gas (St. Louis)...............
National Lead Trust....................
Oregon Improvement Co............
Do
do
pref.
Oregon Railway & Navigat’nCo.
Pacino Mail..................................
Philadelphia Co., Nat. Gas........
Pipe Line Certificates................
Pullman Palace Car....................
Silver Bullion Certificates.........
Southern Cotton Oil Co.............
Sugar Refineries Co.....................
Western Union Telegraph..........
B O ST O N .
(Prices per share, not
per cent.)
Par.
Atchison Topeka & Santa Fe.100
Boston & Albany.......... ........100
Boston & Lowell.....................100
Boston & Maine......................100
Boston & Providence............ 100
Bost. Revere Beach & Lynn. 100
California Southern.............. 100
Central of Massachusetts.... 100
Do
do
pref. 100
Cheshire pref......................... 100
Chicago Burl & North..........100
Chicago & West Michigan... 100
Cin. Sandusky & Cleve.......... 50
Cleveland & Canton..............100
Do
do
p r e f... 100
Concord...............
50
Connecticut & Passumpsio.-lOO
Connecticut River..................100
Detroit Lansing & N., p ref... 100
Eastern.........................
100
Do
pref. 100
Fitchburg................................ 100
Flint & Pere Marquette........ 100
Do
Do
pref. 100
Kansas City F. Scott & Gulf. 100
Do
pref. 100
Kan. City Ft. Scott & Mem..100
Louisv. Evarsv. & St. Lou.. 100
Do
do
pref. 100
Maine Central......................... 100
Mexican Central......... new. 100
New York & New England..100
Do
pref. 100
Northern...................
100
Norwich & Worcester........... 100
Ogdensbnrg & L.Champlain.100
Old Colony..............................100
Portsmouth G’t Falls & Con..100
Portland Saco & Portsmouth 100
Rutland..... ........
100
Do
pref........................ 100
Summit Branch..................... 50
Vermont & Massachusetts.. 100
West End................... . .......... 50
Do
p ref........................ 50
Wisconsin Central................. 100
Do
pref............100
Worcester Nashua & Roch...lOO
Lowest.
Highest.
9% Dec. 3 14*2 Jan. 24
27 Jan. 11 34 Sept.27
260 Jan. 11 295 Deo. 17
6% No V. 19 13% Jan. 12
33 Mar. 31 41 July 17
24*3 Apr. 2 36% Nov. 12
7
33%
280
5%
34
31
10
25
Mar. 21
57% Nov. 12 27
Dec. 3
Jan. 7
June 5
Nov. 30
Nov. 15
Jan. 23
Dec.
11% Jan. 10
36% Dec. 13
315 Sept. 18
7% Feb. 12
39% Apr. 9
86 Deo. 31
3 19% June 29
Dec. 2 61% May 29
Jan
Mar.
Jan.
Jan.
Mar.
Oct.
89% June 7
52 Dec. 19
62 June 7
94% Dec. 20
156 Sept. 6
47% Aug. 16
17% Deo.
17 Deo.
41% Nov.
75 Apr.
85 Apr.
31 % Oct.
61 Nov.
80 Apr.
T71 Mar.
95% Nov.
56 Deo.
55 Dec.
5 81% Dec.
Nov. 21
June25
Jan. 16
Jan. 30
S-'pt^O
Feb. 7
Apr. 17
112% Nov. 8
205% Feb. 11
95% Nov. 18
74% Aug. 10
126 June24
88 % June 6
70 Jan. 12
45 Feb. 23
29% July 12
68% Mar. 29
103 Jan. 3
83 Nov. 21
45 Feb. 23
44 Nov. 12
83% Sept. 4
134 Dec. 20
45 Mar. 29
101% July 2
84% Apr. 2
28% Apr. 2
72 Dec. 20
71% June 27
135% Apr. 3
77 Oct. 6
107% Aug. 6
97 May 2
40% Oct. 1
106% Feb. 15
100 Mar. 6
175 Sept. 20
70% Apr. 2 86% Oct.
Highest.
Lowest.
53% Dec. 5 99% Feb. 20
194% Apr. 13 203 July 14
152 Oct. 25 165 •Tune 7
174% Nov. 13 216 Feb. 20
229% Apr. 24 265 Apr. 13
160*4 May 25 161 Aug. 14
18 Nov. 23 47% Apr. 25
13% Nov. 23 24% Feb. 27
28 % Dec. 4 47 Feb. 27
102 Nov 22 119 Jan. 27
42 Aug. 30 64 Jan. 3
30 Nov. 23 42 .1an. 3
13% Apr. 3 24% Nov. 16
9% Sept.20
6% 4pr. 2
26 Jane22 33 Feb. 20
130 Dee. 20 141 Aug. 25
106 Jan. 25 112% July 12
184% Mar. 22 195 Aug. 1
85 July 26 100 Jan.
76 Nov. 21 125 Feb. 21
121 Dec. 20 135 Aug
70% Oct. 27 97 Jan
25 Jan. 11
95 Nov. 28 110 Apr. 25
79 Jan. 3 88 Jan.
133 Nov. 10 145 July
68% Nov. 15
8 4 Aug. 14 15 Fi
16 Deo. 18 28% Jan. 26
125 Feb. 3 135 Aug. 15
10% Dee. 5 16% Apr. 23
29 % Mar. 22 53% Oct. 5
102 Mar. 13 131% Apr. 30
140 Jan. 9 148 Oct. 4
177 Feb*. 14 179% Nov. 7
6% Apr. 28 11 Mar. 26
163% June 15 176% Jan. 7
100 Oct. 2 117 June29
118 Jan. 4 125 July 19
7% Jan. 3
4 Oct. 24
32 Jan. 6 40% June 27
8 Mar. 8 12 July 28
131% Oct. 12 136 July 17
22%
35
72%
107%
105
40
87%
Lowest.
June 6
May 15
Sept.26
June 9
June 16
Jan. 7
8 Deo. 4 15% June 12
10 Nov. 17 32 May 17
27% Deo. 9 75 Mar. 2 i
81% Feb. 5 37 Jan. 13
13 Dee. 8 34 % May 19
80 Nov. 13 87 Jan. 27
52% Jan. 9 53% Jan. 20
32 Nov. 17 6 i May 15
85 Dec. 8 107% May 16
120 Dec. 8 l75 May 14
36% Mar. 4 49 Oct. 6
65 Nov. 11, 119 May 21
10% Nov. 17 28% May 14
14% Deo. 8 24% May 15
11 Nov. 25 54 May 12
90 Mar. 3 100 Apr. 30
74% Nov. 18 108% Apr. 24
27% Dec. 8 47% July 18
58% 8ept.22 66 Jan. 28
60% Deo. 8 108% Jan. 21
160 Deo. 8 222 July 24
96% Nov. 19 121 Aug. 19
54% Feb 3 55% Jan. 27
4-( Nov. 26 95 May 21
71% Dec. 9 87 May 14
58% Jan. 2 23% Nov. 15 50% May
26% Oct.
220 Feb. 7 185 Deo. 10 231% Aug.
201% Jan.
170 Aug. 27 168 Jan. 15 177 Ju-y
145 Feb.
216 O t . 14 189 June 30 235 Apr.
152 Feb.
260% Deo. 13 250 Dec. 20 262 Mar.
248 Jan.
153 July 17 151 Apr. 30 155 May
150 Aug.
25 Jan. 2 9 Feb. 3 19% Apr.
11% May
16% Nov. 21 14% Jan. 9 23% July
10 Mar.
32%
Nov. 19 29 Jan. 3 45 May
22% Oct.
105 Nov. 21 102 Jan. 6 113 May
100 Apr.
58
Jan.
17 30% Feb. 28 41% Jan.
38 Deo.
37 June 12 27 Feb. 19 46% May
24 Deo.
22 Nov. 21 33 May
26%
Jan.
30
22 July
5% Dec. 16 12 May
8% Mar. 4
5% July
18 Dec. 12 29% May
30%
Jan.
25
21 July
151 Sept.26 150 Jan. 23 150 Jan.
129 Feb.
110 Mar. 25 116% Nov. 12 114 Jan. 21 120 Apr.
192 Jan. 7 205 Sept. 13 216 June 4 228 Nov.
25 Dec. 27 65 Apr. 17 40 May 23 40 May
79 Feb. 14 132 Dec. 26 126 Jan. 2 173 July
116 Mar. 14 135 Aug. 14 134 Jan. 3 l5 0 Mar.
63% Mar. 19 91 Nov. 25 78 Dec. 10 95% May
22 Nov. 13 31 May 23 17 Nov. 19 39 May
91 Dec. 16 100 Jan. 4 80 Dec. 18 104 May
131 Oct. 19
70 Jan. 14
9% Jan. 15
18 Feb. 11
119% May 13
12% Jan. 2
41 % Apr. 1
I l 1% Nov. 20
141 Jan. 15
175 Jan. 3
5 Sept.19
166 F«b. 20
75 Apr. 24
121% Jan. 7
4 Apr. 2
37% Jan. 28
6% Aug. 8
129 Apr. 20
140 June 12
80 Feb. 7
26 Junel8
40 July J
135 Dec. 27
18% Dec. 20
53% June25
123 June 18
153% Nov. 18
i s o Nov. 15
6% Apr. 20
183 Nov. 23
112 Dec. 30
127 % Dec. 23
5% Dec. 27
56 Dec. 20
11% Feb. 1
135 Jan. 3
80%
15
34
118
89
34%
65
130
Jan. 2
Jan. 9
Feb. 6
Feb. 20
June 6
Dec. 21
Aug. 27
Sept.27
Highest.
Lowest.
9%
39
260
5
36
30%
Mar. 19
Apr. 9
May 5
Juue30
June 19
June27
11 Jan.
1578 Jan.
33% Jan.
12
44
290
6%
40‘
39%
5 15
2 29
2 33
Jan.
Jan.
May
Jan.
Feb.
Jan.
22
22
8
14
21
14
Jan. 10
Apr. 22
Apr. 23
15% Jan. 2 23% Apr. 23
78% June27 82% Apr. 13
34
93
126
41%
88
13%
16%
15%
85
65
31%
23
65
ISO
96%
58
76
Jan. 2
June26
June29
Feb. 16
Jan. 3
Junel*
June29
J,m. 7
Apr. 27
Mar. 9
Jan. 26
Fr*b. 3
June30
May 14
Apr. 22
Jan.
Jan.
June 18
Apr. 30
Feb. 7
Jan. 12
Feb. 5
2 0 % Jan. 20
21% Jan. 17
32% May 1
85 Apr. 27
82 Jan. 12
41% Feb. 26
24 May 1
81 Feb. 10
196% Jan. 14
107% Jan. 15
7 58
2 83
24% Mar. 10
192 Jan. 3
172% Junel2
*168 J une 29
247% Jan. 3
160 Jan. 7
16% Jan.
34% Jan.
55%
99%
139%
49
111
34% Apr.
205 Jan.
1*3% Feb.
209% Feb.
255 May
180 Jan.
24
20
5
12
9
17
2 20% Jan. 19
2 40 Feb. 2
41 Mar. 13 51
23% Jan. 28 24
7
5 Mar. 14
17 Mar. 14 22
118%
216
34
165
Jan. 7
Apr. 30
Jan. 5
Jan. 5
Jan. 6
May 23
Jan. 23 t24 June 16
Jan. 19 220% Feb. 18
Jan. 20 40 Feb. 3
Jan. 7 169 Jan. 15
72 Jun el8 85% Jan. 5
18 Mar. 19 26% Apr. 23
71% June12 86% Apr. 23
Jan. 22 126 Feb. 12 126 Feb. 12
May 29
June20
May 5 25 Jan. 2 28 May 28
Mar. 22
Oct. 1 60 Jan. 29 62 Apr. 8
38 Jan. 13
Junel6 140 Jan. 13 146 Feb. 11
130 Feb. 10
16% Nov. 19 31% June 5 17% Mar. 23 24% Jan. 14
28% Dec. 8 52% May 16 31% June 29 41% Jan. 15
100 Deo. 8 121% July 17 96% June 2 116% Jan. 15
138 Nov. 20 167 Apr. 15 136% Ma--. 7 138% Apr. 13
178% Jan. 11 181 May 6 180 June16 183 Apr. 27
5 May 28
5 May 28
9 Mar. 26
5 Deo. 4
162 Dec. 11 179 Apr. 29 163 June 9 168% Apr. 28
120 Jan. 13 160 June21
120 Feb. 1 135 June 3 126 Jan. 7 130 May 26
2 Juue30
5 Jan. 14
5 Deo. 29 10 Jan. 31
55 Deo. 22 79 Feb. 1 60 Feb. 3 65 Jan. 10
4% Feb. 5 6 % Jan. 12
8 May 7
5 Sept. 3
133 Jan. 24 140 Apr. 30 135 Apr. 16 140% Feb. 18
81 Jan. 14 98% May 21 76% June 29 85% Jan. 5
80% D-o. 16 87 May 1 x80% June 29 86 Feb. 10
14% Nov. 15 36% Jan. 10 17 J une 29 23% Jan. 14
53 Oct. 17 70 Jan. 9 45 Jan. 8 58 Jan. 19
120 Jan. 30 125 Apr. 12 120 June10 124% June 3
133
62
20
85
19%
41%
131
10 Mar. 26
54% Jan. 4
53% Jan. 6
13% Jan. 6
36 Jan. 25
51% Apr. 14
60 J an. 9
61% Jan. 9
53% May 31
120 Jan. 21
65 June 21
76% Jan. 10
52% May 28
26% June 20
122% Dec. 6
212% Jan. 3
58% Mar. 16
11 May 31
46% Mar. 29
14 Sept. 13
65% Oct. 25
63 Oct. 2
21% Sept.10
47% Dec. 11
57% Sept. 8
70% Sept. 10
71% Nov. 2
56% Dec. 31
122% n < m
90 Feb. 25
85% Nov,
56% Oct. 1
32 Dec. 31
37% Feb. 1
223 Nov. S
66% Nov.
15% Mar. S
52% Sept.
10 Dec. 23
58% Dec. 3
.56% Nov. 21
17 Deo. 16
44 Mar. 16
52 Deo. 13
68% Jan. 8
70 Apr. 26
53 May 27
122 Jan. 4
70 Oct. 21
81% Feb. 15
50% June 3
26 Deo. 10
18% Dec. 30
221% Jan. 4
60 Nov. 5
7 % Dec. 2
51 Jan. 3
7 Dec. 20
13 Mav 23
63 Mar. 27 55 Deo. 16
61 Feb. 11 54% Deo. 23
21% Jan. 5 13% Deo. 8
48% May 8 38% Dec. 9
55 Jan. 16 xt7% Dec. 10
70% June 10 65 Dec. 8
73 Feb. 27 67% Nov. 27
56 Jan. 19 52 % Mar. 14
135 Deo. 13 127% June 9
76% May 6 63 Nov. 26
90 Dec. 17 X81 Nov. 18
56 Feb. 6 47% Nov. 19
31% Jan. 4 23 Deo. 17
25 Jan. 15 13% Dec. 8
238 July 13 225 Dec. 4
68 Jan. 21 55 Mar. 26
14% Feb. 7 7% Deo. 11
55 73 Oct, 14 43% Nov. 21
B A L T IM O R E .
(Prices per share, not
per cent.)
Par.
Atlanta & Charlotte...............100 80% Apr. 13 86 Aug. :
Baltimore & O h io ................. 100 80 Mar. 15 106% Jan. !
Do
1st pref..........100 123 Jan. 17 124 Mar.
Do
2d p r e f...... 100 105 Oct. 30 116 Mar.
Canton .................................... 100 43 Deo. 7 47 Mar. !
Central Ohio.......................... 50 43% Jan. 14 50 July
Charlotte Colum. & Augusta.100 23% Apr. 9 55 Oct. :
Northern Central..............
50 65 June 16 89 Feb. :
Parkersburg B ranch........... 50
Wilm. Columbia & Augusta..100 107 Dec. 31 115 Feb.
Western Marvland............... BOj 10 Julv 10 14 Jan. 24
i Trustee’s certificatesi
* Ex-rights.
88 Mar. 12
81 June10
115% Jan. 5
103 Jan. 11
43% Aug. 7
46 Apr. 23
45 Apr. 11
70 June25
l% J a n . 5
107 Jan. 28
10% Jan. 11
92 Apr. 17
101% Dee. 14
125 Dec. 17
115 Feb. 20
54 Dec. 19
50 Jan. 22
50 Feb. 15
78 Jan. 22
3 Sept, ft
107 Jan. 28
13 Apr. 22
Highest.
7 % Aur. 8 11%
36 Jan. 3 45%
290 June16 301
9%
5 Dec. 12
35% Feb. 1 43%
28 Nov. 19 89
73 Mar. 10
14% Apr. 2
33 Mar. 8
122 Apr. 7
P H IL A D E L P H IA .
(Prices per share, not
per cent.)
Par,
Catawissa.............................. 50
•Catawissa, 1st pref............... 50
Do
2d pref................ 50
Hunt’don & Br. Top — ---- 50
Do
pref....... 50
Lehigh Valley......................... 50
Little Schuylkill................... 50
.Minehill.................................. 50
Nesquehoning Valley............ 50
Norristown............................. 50
Northern Central................... 50
North Pennsylvania............ 50
Pennsylvania......................... 50
Philadelphia & Erie.............. 50
Philadelphia & Reading....... 50
United Companies of N. Jer.. 100
West J e r s e y ..............
50
■West. N Y. & Pennsylvania. 100
Lehigh Navigation Canal. .. 50
Nov. 15
Apr.
Oct. 3
June13
80%
47
34
80%
130
38%
Jan. 1 to June.30,1891.
Year 1890.
Year 1889.
Year 1888.
Stocks.
91% Feb.
92% Dec.
126 Mar.
112 Jan.
48 Deo.
49 Feb.
65
1
107
10
Nov.
July
Jan.
Dec.
12% May 19
60 Jan. 21
58% Nov. 6
24% Oct. 1
49 % May 16
54% May 19
70 Jan. 3
x70% Jan. 13
58 Aug. 16
135 Jan. 6
71 June 9
90 Jan. 2
56% May 1
36% May 21
24»ieMay 19
233% Aug 21
61% July 23
12% May 27
54 May 22
7% Jan. 7
56% Apr. 14
55 Jan. 31
17% Jan. 2
43% Mar. 20
4578June 4
66 Apr. 6
66 Jan. 29
52% Jan. 15
123 Apr. 7
64 Mar. 19
x79% May 19
49% May 19
28 Mar. 10
1378 June 29
x223 Juue24
54 Mar. 31
7 June29
46 Mar. 25
8 Jan. 23
58% Mar. 3
55% Apr. 29
25 June16
47% June20
51 Feb. 3
68 May 20
68 Jan. 2
54% June 27
127 June 11
66 Feb. 26
85 Jan. 13
53 Apr. 29
32 Feb. 10
17fie May 1
230 Feb. 5
60 Jan. 28
9 Feb. 11
48% Feb. 10
Mar. 20
Mar. 4
Jan. 7
Jan. 6
Jau. 27
Feb. 20
Feb. 17
June 17
Jan. 16
May 25
Jan. 16
96% Feb. 1 .
93% Jan. 1®
131 Apr. j
119 Apr. lg
58 June 5
50% June £
25 Feb. 1%
66% Feb. '
1 -Jan. 1®
110 May 2e
16% May
94
85
127
113
49%
49%
25
71 Jan. 6 63%
1
1 July 22
110 Nov. 28 110
13% Mar. 21 10
101%
107%
130
118
54%
55
Sept. 3
May 23
July 8
Mar. 28
Sept. 19
June16
4
RAILROAD
INTESTORS’
AND OTHER MAPS I N
SUPPLEMENT.
SUPPLEMENT.
l iii,
THE
T h e ra ilroa d m aps in th e S u p p l e m e n t and m ap s o f certain
c o a l com p a n ies’ properties m a y b e referred to easily b y the
indexJbelow . These m aps are prepa red w ith m u ch care in th e
C h r o n ic l e o ffice, a nd are in ten d ed to sh ow as clea rly as poss
ib le th e precise lo ca tio n o f th e v a riou s railroads represented
an d th e ir stra tegic p osition in co m m a n d in g business.
Atchison Topeka & Santa Fe. Old mortgages..................... .
New consol. M. 4s, due 1989; new incomes, due 1 9 8 9 ....
Atlantic & Pac. RR. 1st Guar. Trust M. 4s, due Jan. 1,1937.
1st M. Western div. 6s, due July 1 ,1 91 0 ............................
2d M. Western div. 6s, due Sept. 1,1907............................
Income M. Western div. 6s, due Oct. 1,1910.....................
Atl. & Pac. RR. 1st M. Central div. 6s, due March 1 ,1 9 2 2 ...
Balt. Belt 1st mort. 5s, due 1990........ ........................... .........
Baltimore & Ohio Consol. M. 5s, due Feb. 1 ,1 98 8 ..................
Balt. & Ohio Southwestern 1st M. i^ s , due Jan. 1,1990.......
1st, 2d and 3d income mortgage, due Jan. 1,1990............
Brooklyn Elevated—Un. El. 1st M. 6s of 1887, due 1 9 3 7-...
Union Elevated 2d M. of 1887, due 1927................... .
Cambria & Clearfield 1st M 5s, 1891, due 1941.......................
Central RR. & Bk. Co. of Ga. Col. Trust 5s, due May 1,1937.
Consol. Mort. 5s, due April 1,1937.....................................
Central RR. Co. of N. J. Gen. M. 5s, due July 1,1 98 7 ............
Central Pacific M. 6s, due Oct. 1,1 93 6 .....................................
Chesapeake & Ohio 1st M. 6s, due July 1,1908..... ............ .
1st M. Peninsula ext. 6s, due Jan. 1,1911.........................
1st M. extensions, 6s, due June 1,1 92 2 .............................
1st consol. M. 5s, due May 1,1939...........
1st 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 1st and income mortgages, due 1982............
C. M. & St. P., 1st M., Chic. & L. Sup’r div. 5s, due July 1,1921.
1st M. Chic. & Milwaukee 7s, due Jan. 1 ,1 9 0 3 .................
1st M. Chic. & Mo. River 5s, due July 1,1926................
1st M. Chic. & Pacific 6s, due Jan. 1 ,1 9 1 0 .....................
1st M. Chic. & Pacific Western 5s, due Jan. 1 ,1 92 1........
Consol. Mort. 7s, due July 1,1905.......*............................
1st M. Dakota & Great Southern 5s, due Jan. 1,1 91 6___
1st M. Dubuque 6s, due July 1 ,1 92 0 ..................................
1st M. Fargo & Southern 6s, due J an. 1,1 92 4.........
1st M. Hastings & Dakota exten. 7s, due Jan. 1910........
1st M. Iowa & Dakota 7s, due July 1 ,1 90 8 .......................
1st M. Lacrosse & Davenport 5s, due July 1,1919..........
1st 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........................
1st M. Wisconsin & Minn. 5s, due July 1,1 92 1 ................
1st M. Wisconsin Valley 6s, due July 1 ,1 92 0 ....................
General M. 4s of 1889, due 1989.........................................
Chicago & Northern Pacific 1st mort. 5s, due April 1,1940..
Lease to Wisconsin Central, dated April 1,1890.............
C. Rock I. & Pac. 1st M.,C. Kan. &Neb. Ry. 6s, due July 1,1934
1st M. Extension & Collat. 5s, due July 1,1934...............
1st M. St. Joseph & Iowa 6s, due July 1,1 93 5..................
1st M. Wis. Minn. & Pac. 6s, due Oct. 1,1934....................
Cincin. Jackson & Mack’w 1st Con. M. 5s, due Dec. 1,1936.
Clev. Cin. Chic. & St. L.—Collat. trust St. L. Div. 4s, due 1990.
Colorado Midland 1st M. 6s, due June 1,1936..................... ..
Consol mort. 4s, due Feb. 1,1940........................................
Denver & Rio Grande 1st Con. M. 4s, due Jan. 1, 1936........
Improvement M. 5s, due June 1 ,1928...............................
Denver Tramway consol, mort. 6s, due Jan. 1,1910.............
Duluth South Shore & At. 1st M. 5s, due Jan. 1,1937............
East Tenn. Va. & Ga., Cinn. Extension 5s, due 1940...........
Fort Worth & Denver City 1st M. 6s, due Dec. 1,1921..........
Georgia Car. & North’n 1st M. 5s, due July 1 ,1 92 9 ...............
Houston & Texas Central, all new mortgages of 1890..........
Iowa Central 1st M. 5s of 1888, due 1938................................
Kan. City Memphis & Birm. 1st M. 5s, due March 1,1 92 7 —
Kentucky Central 1st M. 4s, due July 1,1 98 7 ........................
Kings County Elev. 1st M. 5s, due Jan. 1,1 92 5 ......................
Lake Erie & Western 1st M. 5s, due Jan. 1,1 93 7 ...................
Lehigh Valley of New York 1st 4 *28, due July 1,1 94 0..........
Louisv. Evans. & St. L. 1st Con. M. 5s, due July 1,1939......
Louisville & Nashville Unified mort. 4s, due July 1,1940 ...
Manhattan Elevated consol. 4s,due April 1,1990.................
Mexican Central consol. M. 4s, due 1911 and 1939................
M. St. P. & S. Ste. Marie 1st Cons. M. 5s, due July 1,1938...
1st M. Minn. S. Ste. Marie & Atl. 5s, due Jan. 1,1926---Minneapolis Street R’y consol, mort. of 1890, due J an. 15,1919
Mo. Kan. & Texas Ry. 1st M. 4s, due June 1 ,1 9 9 0 ...............
2dM. 4s due June 1,1990................ .................. ^.............
Missouri Pacific 1st Cons. M. 6s, due Nov. 1 ,1 92 0 ................
Mobile & Birmingham 1st M. 5s, due Jan. 1,1937................
Mobile & Ohio General M. 4s, due Sept. 1 ,1 93 8.....................
New York Chicago & St. Louis 1st M. 4s, due Oct. 1 ,1 93 7 ..
N. Y. Ontario & Western Cons. 1st M. 5s, due June 1,1939.
N. Y. Susquehanna & West. 1st mort. 5s, due Aug. 1,1940..
Norfolk & Western 1st M. Clinch Val. 5s, due June 1,1957.
One-hundred-year mortgage 5s, due Jan. 1,1990............
Northern Pacific 3d M. 6s, due Dec. 1,1 93 7 ............................
Duluth & Manitoba 1st M. Dak. Ex.6s, due June 1,1937.
Con'sol. mortgage of 1890, due 1989....................................
Omaha & St. Louis 1st M. 4s, due Jan. 1,1937.........................
Oregon Pacific 1st M. 6s, due Oct. 1,1 90 0................................
Oregon Ry. & Navigation Col. Trust 5s, due Sept. 1 ,1 9 1 9 ...
Oreg. Short Line & Utah No. con. M. 5s, due April 1 ,1 91 9 ..
Collateral Trust5s, due Sept. 1,1919..................................
Peoria & Eastern—O. Ind.& West. 1st M.5s, due A pr.l, 1938.
Consol. 1st mortgage 4s, due April 1,1940.......................
Income mortgage bonds, due April 1,1990.......................
Philadelphia & Reading general M. 4s, due Jan. 1,1 95 8.......
1st, 2d and 3d Pret. Inc. M. 5s, due Jan. 1,1958.............
Pittsburg & Western 1st M. 4s, due July 1 ,1 9 1 7 .................
Poughkeepsie Bridge Co. 1st M. 6s, due Aug. 1,193,6...........
Richmond & W. P. Ter. Co. Col. Trust 6s, due Feb. 1 ,1 89 7 ..
Consol. 1st collateral M. 5s, due March 1,1 91 4...............
Rio Grande West. 1st M. 4s, due July 1,1939.........................
St. P. M. & M. 1st M. Mon. ext., 4s, due June 1 ,1937............
Pacific Extension 1st mort. 4s, due July 1 ,1 9 4 0 ..------San Ant. & Aransas Pass 1st M. on ext., 6s, due July 1,1926.
San Fran. & North Pacific 1st M. 5s, due Jan. 1,1919............
Savannah & Western 1st Cons. M. 5s, due March 1,1929---Southern Pacific gen. M. 5s of 1888, due 1938........................
Texas & Pacific 1st M. 5s, due June 1, 2000.......: ...................
2d M. 5s, due Dec. 1, 2000....................................................
Toledo Peoria & Western 1st M. 4s, due July 1 , 1 9 1 7 . . . . . . ..
Toledo St. L. & Kansas City 1st M. 6s, due June 1,1916 . . . .
Union Pacific Denver & Gulf con. M. 5s, due Dec. 1,1 93 9---Virginia Midland general M. 5s, due May 1,1936..................
Wabash
133 1st M. 5s, due May 1,1 93 9...........................................
135
49
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
45
45
45
45
45
45
45
45
45
45
45
45
45
45
45
48
52
52
47
47
47
47
45
52
45
51
47
47
52
45
52
45
49
52
49
45
45
49
46
51
49
51
51
49
47
45
52
51
51
47
45
47
45
49
52
45
50
47
45
50
45
49
51
51
51
47
51
51
46.
47
45
45
45
49
49
45
52
45
49
49
49
47
47
45
45
51
47
49
2d M. 5s, due Feb. 1,1 93 9 .........................................- .........
Deb. M. 6s, due July 1,1939.................................................
143
<Western New York & Penn. 1st M. 5s, due Jan. 1,1937........
2d M., 3 to 4 per cent, due Oct. 1 ,1 92 7.............................
West Shore 1st M. 4s of 1889, due 2361.................... .'..............
49
49
47
47
42
Map .
P age .
Alabama, Great South. See Cin.N.O.& T.P.; also E.Tenn.Va.& Ga.41, 55
Alabama & Vicksburg. See Cinn. New Orleans & Texas Pacific....... 41
Atlantic & Pacific. See Atchison Topeka & Santa Fe— 10, 11, 12, 13
Atchison Topeka & Santa Fe............................................... 10, 11, 12, 13
Baltimore Belt.......................................................................... - ................ 15
Baltimore & Ohio............. .......................................................................... 16
Baltimore & Ohio Southwestern. See Baltimore & O hio.................... 16
— - - - 19
Buffalo Rochester & Pittsburg.......................... ...................
Canada Southern. See New York Central. ............. ................... ....... 93
Gentralia & Chester............................ ..................... M....................... - - - 22
CentralRR. & Banking Co. of G eorgia....... ...................... .............
24
Central New England & Western............................................................. 23
Central Pacific. See Southern Pacific.............................r. . . — ........127
Central RR. of New Jersey...................................................................... 26
Charleston Cincinnati & Chicago.............................. .......... ........ . ........ 28
Chesapeake & Ohio— ............................................................................. 60
Chicago Burlington & Quincy......................... ....................- ..............- • 31
Chicago & East Illin ois................................. - ......................................... 33
Chicago Milwaukee & St. Paul.................................................................. 35
Chicago & Northwestern................ .......................................... — - ...... 37
Chicago Rock Island & Pacific............. ................ - - .............................. 39
Cincinnati Hamilton & Dayton................................^
- .................... 42
Cincinnati New Orleans & Texas Pacifie.............................. - ......... 41
Cleveland & Canton— ' ....................................................... . — -.........
Cleveland Cincinnati Chicago & St. Louis............................................... 46
Colorado Coal & Iron Company........................ ..................................... 146
Colorado Midland. See Atchison Topeka & Santa F e.......................... 12
Columbus Hocking Valley & Toledo.................................................. '48
Delaware & Hudson Canal Co.’s Lines............. ..................................... 50
Delaware Lackawanna & Western........ .......... — .......... .................. 52
Denver & Rio Grande............................................................................... 53
Dubuque & Sioux City. See Illinois Central.......................................... 65
East Tennessee Virginia & Georgia........................................................ 55
Elgin Joliet & Eastern............................................... ..........................
57
Evansville & Terre Haute................... ............. .................... .............
58
EUnt& PereMarquette— .................................................. .................. 60
Galveston Harrisburg & San Antonio. See Southern Pacific............. 127
Grand Rapids & Indiana. See Pennsylvania R R ................................. 106
Great Northern............................... -.............. - -- -- ............................ 63
Houston & Texas Central. See Southern Pacific..................................127
Illinois Central............................- — . . ................................ ....... - - -— . 65
Iow a Central............................. -.................................... - ...................67
Kanawha & Michigan. See Toledo & Ohio Central.................
131
Lake Erie & Western................................................ ................................ 70
Lake Shore & Michigan Southern. See New York Central. .......... 93
Lehigh Valley..................................................- ........- §.............................. 72
Louisville Evansville & St. Louis. See Evansville & Terre H aute... 58
Louisville & Nashville— ......................................................................... 73
Louisville New1Albany & Chicago............................................................ 75
Louisville New Orleans & Texas.............................. .............................. 76
Louisville St. Louis & Texas........................ .................................. ........ 77
Memphis & Charleston. See East Tennessee Virginia & Georgia---- 55
Mexican Central................................................................ - - - - ................. 79
Mexican National........................................ .............................................. 81
Michigan Central. See New York Central................................ ............ 93
Milwaukee Lake Shore & Western............................................................ 83
Minneapolis Street Railway.........................— - ...................................148
Minneapolis St. Paul & S. Ste. Marie....................^...................... .— 84
Missouri Kansas & Texas...... .................................................................. 86
Mobile & Ohio.......... ................-.................................................................. 88
Monterey & Mexican Gulf.................................................................-— 89
Nashville Chattanooga & St. Louis......................................................... 91
New York Central & Hudson River........................................................ 93
New York Chicago & St. Louis. See New York Central..................... 93
New York Ontario & Western.................................................................. 97
New York Susquehanna & Western.................................. : ...............
99
Norfolk & Western.............................................................................
100
Northern Pacific.. , ...................
103
Oregon Short Line & Utah Northern. <SeeUnion Pacific.....................135
Pennsylvania.............
106
Peoria Decatur & Evansville. See Evansville & Terre Haute.......... 58
Philadelphia & Erie. See Pennsylvania Railroad................... — ...1 06
Philadelphia & Reading.................................
108
Pittsburg Cincinnati Chicago & St. Louis.............................................. 110
Pittsburg Fort Wayne & Chicago. See Pennsylvania R ailroad........ 106
Pittsburg Shenango & Lake Erie.................................................
113
Poughkeepsie Bridge. See Central New England & Western............. 23
Queen & Crescent..................................................... - ................................ 41
Richmond & Danville. See Richmond & West Point Term inal........ 115
Richmond & West Point Terminal............................................................115
Bio Grande Southern. See Denver & Rio Grande................................ 53
Rio Grande Western....................................
-.117
St. Louis Alton & Terre Haute................................................................. 119
St. Louis Cape Girardeau & Fort Smith................................................. 121
St. Louis & San Francisco. See Atchison system................................. 13
San Antonio & Aransas Pass....................................................................122
Savannah Americus & Montgomery........................................................124
Shenandoah Valley. See Norfolk & Western........................................ 100
Sioux City & Northern............................................................................... 125
Southern Pacific Company........................................................................ 127
Terre Haute & Peoria.........................................*...................................... 129
Toledo Ann Arbor & North Michigan..................................................... 130
Toledo & Ohio Central............. ............................................... ................. 131
Toledo & Ohio Central Extension.............................................
Union Pacific......................................................
Union Pacific Denver & Gulf................................................................... 137
Virginia Midland See Richmond & West Point Terminal................... 115
Wisconsin Central Companies..............................................................
[Yol.
I
5
INDEX.
July, 1891.]
IN D EX
TO RAILROADS— CONSOLIDATED,
&c.
The names o?companies not given in the S u p p l e m e n t 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 o f 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.
* ®eor8laAlabama Central.......... ...................East
Albemarle & Pantego— .................
Albemarle & Raleigh...............
American Dock & Improvement Co..Central of New Jersey.
Androscoggin A Kennebec------------ Maine Central.
Ashtabula & Pittsburg.. . . . .......... . .PittsburgYoungstown A Ashtabula.
Atchison & Nebraska.........................Chicago Burlington & Quincy.
Atchison A Pike’s Peak..................... Central BranchUnion Pacific.
Atlantic A Great Western................ New York Pennsylvania & Ohio.
Atlantic & Gulf.................................. Savannah Florida & Western.
Atlantic Mississippi & Ohio.............. Norfolk & Western.
Atlantic & Northwest....................... Canadian Pacific.
Atlantic & Pacific..............................See Atchison System.
Augusta & Knoxville.........................Port Royal & Western Carolina.
«a ch m a n Valley................................Western Maryland.
Baltimore A Cumberland................. Western Maryland.
Baltimore A Hanover.......................Western Maryland.
Baltimore & Harrisburg.................. Western Maryland.
**
Baltimore <fc New Y ork.....................Baltimore & Ohio.
Battle Creek & Sturgis................ % .Lake Shore & Michigan Southern.
B ay City & Battle Creek................... Michigan Central.
Bellefontaine & Indiana....................Clev. Cm. Chic. & St. Louis.
Belleville A Carondelet.................... St. Louis Alton & Terre Haute.
Belleville & Eldorado.. . ...................St. Louis Alton & Terre Haute.
Belleville A Southern Illinois......... St. Louis Alton & Terre Hante.
Bell’s Gap
..... ........................Pennsylvania & Northwestern.
Beloit & Madison............................... Chicago & Northwestern.
Black River A Morristown...............Rome Watertown & Ogdensburg.
Birmingham Equipment.................. Kansas City Memp. & Birmingham.
B luff Point Improvement................ Delaware A Hudson Canal.
BoonevilleBridge............. .................Missouri Kansas & Texas.
Booneville St. Loins A Southern— Missouri Pacific.
Boston Barre & Gardner..................Fitchburg.
Boston Clin. Fitch. & New Bed.......Old Colony.
Boston Concord A Montreal.. . . . . . . .Concord & Montreal.
Boston Hartford & Erie....................New York & New England.
Boston Hoosac Tunnel & Western. .Fitchburg.
Boston Providence & Fishkill..........New York & New England.
Brooklyn A Montauk........................ Long Island.
Brunswick & Chillicothe................. Wabash.
Brunswick & Western...................... Savannah Florida A Western.
Buffalo & Erie.......... ..........................Lake Shore A Michigan Southern.
Buffalo New York A Philadelphia. .Western New York & Pennsylvania.
Burlington Cedar Rapids & Minn... Burlington Cedar Rapids & North.
Burlington & Missouri River............Chicago Burlington & Quincy.
Burlington A Southwestern.............Chicago Burlington & Quincy.
Busk Tunnel...................................... Atchison Sys.—Colorado Midland.
-Cairo Arkansas & T ex a s..................Missouri Pacific—St. L. I. M. A So.
Cairo & Fulton ....................i ..........Missouri Pacific—at. L. I. M. & So.
Cairo & St. L o u is............................... St. Louis & Cairo.
.
♦Cairo Vincennes &>Chicago............. Cleveland Cm. Chicago <fc St. Louis.
California & Oregon..........................Central Pacific.
_
California Southern........................... Atchison Topeka & Santa Fe.
Camden & A m boy............................. United New Jersey.
Canada Central.................................. Canadian Pacific.
•
.
Cape Girardeau Southwestern........St. L. Cape Girardeau & Fort Smith.
Carbondale & Sliawneetown............St. Louis Alton & Terre Haute.
Cedar Rapids & Clinton................... Burlington Cedar Rapids & North n.
Cedar Rapids Iowa Falls & N. W .. .Burlington Cedar Rapids & North n.
Cedar Rapids A Missouri River.......Chicago A Northwestern.
Central I o w a ............................. - -Iowa Central.
Central Washington......................... Northern Pacific.
Charlottesville A Rapidan.............. Virginia Midland.
C heshire.............................................Fitchburg, i
Chicago & Atlantic........................... Chicago & Erie.
Chicago A Calumet Terminal...........Chicago & Northern Pacific.
Chicago Clinton Dubuque & Minn. .Chicago Milwaukee A St. Paul.
Chicago & Great E astern ................ Pittsburg Cin. Chicago & St. Louis.
Chicago & Great Western................ Chicago & Northern Pacific.
Chio&go & Indiana Coal................... Chicago & Eastern Illinois.
Chicago Iowa & Nebraska...............Chicago & Northwestern.
Chicago Kansas & Nebraska............Chicago Rock Island & Pacific.
Chicago Kansas & W estern.............Atchison Topeka & Santa Fe.
Chicago & Michigan Lake Shore— Chicago & West Michigan.
Chicago Milwaukee & N. W............ .Chicago & Northwestern.
Chicago A Milwaukee.........................Chicago & Northwestern.
Chicago & North Michigan...............Chicago & West Michigan.
Chicago & Pacific............................... Chicago Milwaukee & St. Paul.
Chicago Santa Fe & California........ Atchison Topeka & Santa Fe.
Chicago & St. Louis.......................... .Atchison Topeka & Santa Fe.
Chicago St. Louis & New Orleans... Illinois Central.
Chicago St. Louis & Paducah..........St. Louis Alton & Terre Haute.
Chicago St. Louis & Pittsburg......... Pittsb’rg Cincinnati Chicago & St. L.
Chicago St. Paul & Minn..................Chicago St. Paul Minn. & Omaha.
Chicago & Southwestern.................. Chicago Rock Island & Pacific.
Chicago & Springfield........................Illinois Central.
Chicago & Toman.............................. 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 A Chicago. Cleveland Cin. Chic. & St. Louis.
Cincinnati Lafayette A Chicago. ...Cleveland Cin. Chic. A St. Louis.
Cincinnati Richmond A Chicago... .Pittsb’rg Cincinnati Chicago A St. L.
Cincinnati Sandusky A Cleveland..Cleveland Cin. Chic. A St. Louis.
Cincinnati Southern...................— Cincinnati New Orleans A Tex. Pac.
Cincinnati Van Wert A Michigan.. ..Cincinnati Jackson A Mackinaw.
•Cincinnati Wabash & Michigan.......Cleveland Cin. Chic. & 8t. Louis.
Cincinnati Wash. A Baltimore........ Baltimore A Ohio Southwestern.
Clarksville A North Carolina........... Richmond A Danville.
■Clearfield A Jefferson........................ Pennsylvania A Northwestern.
Cleveland Columbus Cin. A Ind...... Cleveland Cin. Chic. A St. Louis.
Cleveland Mt. Vernon A Delaware. .Cleveland Akron A Columbus.
Cleveland Painesvllle A Ashtabula..Lake Shore A Michigan Southern,
Clevel. Tuscarawas V. A Wheeling. .Cleveland Lorain A Wheeling.
Coeur d’Alene................................... .Northern Pacific.
Colorado Central................................ Union Pacific Denver A Gulf.
Colorado M idland............................-See Atchison “ System.”
Columbia A Augusta....................... Charlotte Columbia A Augusta.
Colorado Bridge................................ International A Great Northern. _
Col. Chicago A Indiana Central.......Pittsburg Cin. ChicagoA St. Louis.
Columbus A Eastern..........................Columbus Shawnee A Hocking.
Columbus A Hocking Valley............Columbus Hocking Valiev A Toledo.
Columbus A Indianapolis Central.. .Pittsb. Cincinnati Chic. A St. Louis.
Columbus A Rome............................. Savannah A Western.
Columbus A Toledo............................Col. Hocking Valley A Toledo.
Columbus A Western.........................Savannah A Western.
NAME.
WILL BE FOUND UNDER —
Concord........................ ..................... Concord A Montreal.
Connecticut Western........................ Hartford A Connecticut Western.
Connotton Valley.................. ............Cleveland A Canton.
Consqlidated Vermont...................... Central of Vermont.
Covington A Lexington................... Kentucky Central.
Covington A Macon.......................... Macon A Northern.
Current River.....................................Kansas City Fort Scott A Memp his.
Dakota Central........ .•........................Chicago A Northwestern.
Dakota A Great Southern................Chicago Milwaukee A fct. Paul.
Dallas A W aco....................................Missouri Kansas A Texas.
Danville A Grape Creek................... Chicago A East Illinois.
Dayton Fort Wayne A Chicago.......Cincinnati Dayton A Ironton.
Delano Land.......................................Lehigh Valley.
Denver P acific................................... Union Pacific.
Denver A Rio Grande W estern.......Rio Grande Western.
Denver Texas A Fort W orth.......... Unión Pacific Denver A Gulf.
Denver Texas A Gulf.........................Union Pacific Denver A Gulf.
Detroit A Bay City........................... Michigan Central.
Detroit Mackinac A Marquette.......Duluth South Shore A Atlantic.
Detroit A Milwaukee.......... .'............Detroit Grand Haven A Milwaukee,
Detroit Monroe A Toledo.................. Lake Shore A Michigan Southern.
Duck River.........................................Nashville Chattanooga A St. Louis.
Duluth A Manitoba...........................Northern Pacific.
Duluth Short Line.............................St. Paul A Duluth.
East Line A Red River.....................Missouri Kansas A Texas.
Eastern of Massachusetts................Boston A Maine.
Eastern of Minnesota........................St. Paul Minn. A Man.
Easton A A m boy.............................. Lehigh Valley;
Elmira State L in e .............................Tioga.
Erie
..............................................New York Lake Erie A Western.
Escanabä A Lake Superior...............Chicago A Northwestern.
E s s e x ..................................................Boston A Maine.
European A North American......... Maine Central.
Evansville A Crawfordsville............Evansville A Terre Haute.
Evansville Henderson A Nashville. .Louisville A Nashville.
Evansville A Richmond................... Evansville A Terre Haute.
Evansville Rockford A Eastern.......Louisville Evansville A St. Louis.
Fargo A Southern..... . ...................... Chicago Milwaukee A St. Paul.
Flemington..........................................Belvicfefe Delaware.
Florida Railway A Navigation........ Florida Central A Peninsular.
Florida Southern................................ Jacksonville Tampa A Key West.
Fort Smith A Van Buren Bridge....Atchison Sys.—St. Lo. A San Fran.
Fremont Elkhorn A Missouri V a l... Chicago A Northwestern.
FultonElevated.................................. Kings County Elevated.
Grand Haven.....................................Chicago A West Michigan.
Grand Rapids Lansing A Detroit... .Detroit Lansing A Northern.
Grand Rapids Newaygo A L. Shore. Chicago A West Michigan.
Grand River Valley........................... Michigan Central.
Green Bay A Minnesota....................Green Bay Winona A St. Paul.
Greenville A Columbia.....................Columbia A Greenville.
Hannibal A Central Missouri..........Missouri Kansas A Texas.
Hanover A Gettysburg...................... Western Maryland.
Harlem A Portchester.......................New York New Haven A Hartford.
Hastings A Dakota............................Chicago Milwaukee A St. Paul.
Helena A Red Mountain...................Northern Pacific.
Henderson Bridge Co........................Louisville A Nashville.
Hereford
........................................Maine Central.
Holly Wayne A Monroe....................Flint A Pere Marquette.
Holyoke A Westfield.......................... New Haven A Northampton.
Humeston A Shenandoah................ Chicago Burlington A Quincy.
HuntinburgTell City A Cannellton.Louisv. Evansv. A St. Louis Consol.
Illinois Midland..................................Terre Haute A Peoria.
Illinois A St. Louis.............................Louisville Evansv. A St. L. ConsolIndiana Bloomington A Western— Peoria A Eastern.
Indiana A Lake Michigan................. Terre Haute A Indianapolis.
Indianapolis Cin A Lafayette...........Cleveland Cin. Chic. A St. Louis.
Indianapolis A Cincinnati..............Cleveland Cin. Chip. A St. Louis.
Indianapolis Decatur A Springfleld..Indianapolis Decatur A Western.
Indianapolis A St. Louis................... Cleveland Cin. Chic. A St. Louis.
Ionia A Lansing.................................Detroit Lansing A Northern.
I®wa City A Western....................... Burlington Cedar Rapids A North’n.
Iowa A Dakota.................................. Chicago Milwaukee A St. Paul.
Iowa Falls A Sioux City....................Dubuque A Sioux City.
Iowa Midland.................. ................. .Chicago A Northwestern.
Iowa A Minnesota............................. Chicago Milwaukee A St. Paul.
Ithaca A Athens........................ -— Lehigh Valley.
Jackson Lansing A Saginaw............Michigan Central.^
Jacksonville Southeastern...............Chicago Peoria A St. Louis.
Jacksonville Louisville A St. Louis.Chicago Peona A St. Louis.
James River Valley.
............... . - .Northern Pacific.
Jamestown A Franklin..................... Lake Shore A Michigan Southern.
Jefferson Madison A Indianapolis. .Pittsburg Cincinnati Ohio. A St. L.
Joliet A Chicago................................ Chicago & -Alton.
Junction A Breakwater....................Delaware Maryland A Virginia.
Kalamazoo Allegan A Gr. Rapids..Lake Shore A Michigan Southern.
Kalamazoo A South Haven............. Michigan Central.
Kalamazoo A White Pigeon............. Lake Shore A Michigan Southern.
Kanawha A O h io............................. .Kanawha A Michigan.
Kansas A Arkansas Valley............. Missouri Pacific,
Kansas City A Beatrice....................Kansas City Wyandotte A N. W.
Kansas City A Cameron................... Hannibal A St. Joseph.
Kansas City Fort Scott & Gulf........ Kansas City Fori Scott & Memphis,
Kansas City & Memphis Ry. Bridge.Kansas City Fort Scott & Memphis.
Kansas City & Omana.......................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 <fe Santa Fe.
Kansas Equipment............................Kansas City Fort Scott A Memphis.
Kansas Midland..................................Atchison Sys.—St. L. A San Fran.
Kansas A Missouri.............................Kansas City Fort Scott A Memphis.
Kansas Pacific............. ...................... Union Pacific.
Keithsburg Bridge............................ Iowa Central.
,
Kingman Pratt A Western.......... .. .Atchison Topeka A Santa Fe.
Knoxville A Ohio............................... East Tennessee Virginia A Georgia
Lackawanna A Pittsburg................ Lackawannna A Southwestern.
Lackawanna A Susquehanna..........Delaware A Hudson.
Lafayette Bloomington A Muncie. ..Lake Erie A Western.
Lancaster A Reading........................ Reading A Columbia. . . . . . .
Lawrence.............................................Pittshurg Youngstown & Ashtabula.
Leeds & Farmington..........................^
Lehigh. & Susquehanna........... ........ Lehigh Coal & Navigation.
INVESTORS’
6
NAME.
WILE BE FOUND UNDER—
Leroy & Caney Valley.......................Missouri Pacific.
Lincoln & Northwestern.......... .....C hicago Burlington ¿¿ Quincy.
Lincoln Park & Charlotte................ Buffalo Rochester & Pittsburg.
Little Rock Junction........ ............... Missouri Pacific.
Little Rock & Port Smith..................Missouri Pacific.
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.
M acon & Augusta............................. Georgia RR. & Banking Co.
Mahoning Coal....................................Lake Shore & Michigan Southern.
Manitoba Southwest’n Colonization. Canadian Pacific.
Marietta Columbus & Northern.......Toledo & Ohio Central Extension.
Marietta Mineral...............................Toledo & Ohio Central Extension.
Maple River............................. .......... Chicago & Northwestern.
Marquette Hougton & Ontonagon...Dhluth South Shore & Atlantic.
Marquette & Western........................ Duluth South Shore & Atlantic.
Maryland Central.............................Baltimore & Lehigh.
Massachusetts Central.....................Central Massachusetts.
Massawippi................ ..................... .Connecticut & Passumpsio.
Mays ville & Lexington....................Kentucky Central.
McKeesport & Bellevem on............ 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..................... SRnneapolis & 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 V alley...............................Chicago & Northwestern.
Missisquoi Valley...............................Central Vermont.
Mississippi River Bridge...................Chicago & Alton.
Mississippi & 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 Railroad..................... Old Colony.
Newburg & New Y ork........... ...........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 <teMobile.......................Louisville & Nashville.
New Orleans Pacific.......................... Texas & Pacific.
Newport & Richford......................... Connecticut & Passumpsio.
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 & Roekaway..................... Long Island.
N. Y. Woodhaven& Roekaway........ New York ¿¿Roekaway 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.
North 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.
Ohio & Northwestern.......................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.
Ottumwa 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.
Paris & D e ca tu r....................... .....T e rre Haute & Peoria.
Pekin Lincoln & Decatur.................. Peoria Decatur ¿¿ Evansville.
Peninsular (M ich)............................ Chicago ¿¿ Northwestern.
Pennsylvania & N. Y. Canal............ Lehigh Valley.
Penokee............................... . ......... - .Wisconsin Central.
Peoria Pekin ¿¿Jacksonville............Wabash.
Philadelphia Marlton ¿¿ Medford.. .Camden ¿¿ Atlantic.
Pittsburg Cincinnati & St. Louis... .Pitts. Cinn. Chic. & St. Louis.
:~
Pittsburg & State Line..... ................ Buffalo Rochester ¿¿ Pittsburg.
Pleasant Hill & De Soto....................Kansas City Clinton ¿¿ Springfield.
Port Huron ¿¿ Northwestern............Flint ¿5 Pere Marquette.
Portland ¿¿ Kennebec........................Maine Central.
Portsmouth Great Falls ¿5 Conway.Boston & Maine.
Potomac V alley.......... ....................... Western Maryland.
Poughkeepsie & Connecticut............Central New England & Western.
Prairie du Chien................................ Chicago Milwaukee & St. Paul.
Pueblo & Arkansas Valley..............Atchison Topeka & Santa Fe.
Quincy Alton & St. Louis.................Chicago Burlington ¿¿ Quincy.
Quincy & Palmyra............................ Hannibal & St. Joseph.
Kavenswood Spencer ¿¿ Glenville..Ohio River.
SUPPLEMENT.
SAME. .
[V ol. LUI.
WILL BE FOUND UNDER—
Republican Valley..................... .......Chicago Burlington ¿¿ Quincy.
Rhode Island & Massachusetts.........New York ¿¿ New England.
Rich Hill............................................. Kansas City Fort *Bcott & Memphis.
Richmond & Alleghany....................Chesapeake ¿¿ Ohio.
Richmond York River ¿¿Chesapeake. Richmond ¿¿ Danville.
Rochester Hornellsville ¿¿Lacka
Lackawanna ¿¿ Soutliwestern.
Rochester & Pittsburg.......................Buffalo Rochester ¿s Pittsburg.
Rome ¿¿ Carrollton............................. Chattanooga Rome ¿¿ Columbus.
Sacramento ¿* Placerville................Northern California.
Saginaw & Western........................... Detroit Lansing ¿¿ Northern.
St. Joseph & Iowa.............................. Chicago Rock Island ¿¿ Pacific.
St. Joseph ¿¿ Pacific..........................St. Joseph ¿¿ Grand Island.
St. Joseph ¿¿ Western........................St. Joseph ¿¡5 Grand Island.
St. Lawrence & Ottawa.................... Canadian Pacific.
St. Louis Arkansas & Texas............. St. Louis Southwestern.
St. Louis Bridge ¿¿ Tunnel................Terminal Association of St. Louis.
St. Louis & Chicago............................North ¿¿ South RR. of Illinois.
St. Louis Council Bluffs ¿¿ 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 ¿i Lexington........................Missouri Pacific.
St. L. 8alem ¿¿ Ark..Atch. System..St. Louis ¿¿ San Francisco.
St. Louis Salem & Little Rock..........(St. L. Salem & Ark.) St. L. ¿¿ S. Fran.
St. Louis ¿¿ San Francisco.................See Atchison “ System.”
St. Louis & Southeastern................... Louisville & Nashville.
St. Louis Southern.............................. St. Louis Alton & Terre Hautet
St. L. Wichita¿tWest. .Atch. System.St. Louis ¿¿ San Francisco.
St. Paul & Chicago............................. 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 ¿¿ Cleveland5
San Joaquin Valley..........................Central Pacific.
San Pablo ¿¿ Tulare...........................Northern (California).
Sault St. Marie ¿¿ Southwestern...... Chic. St. P. Minneapolis ¿¿ Omaha.
Savannah Albany ¿5 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.
Sharon.. .
.................................New York Pennsylvania ¿¿ Ohio.
Shawnee & Muskingum R R ............. Columbus Shawnee & Hocking
Sheffield ¿¿ Birmingham................... Birmingham Sheffield & TenmRiver
Shenandoah Valley........................... Norfolk' & Western.
Short Creek & Joplin........................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 ¿5 St. Louis.................. Louisville ¿¿ Nashville.
Southern Georgia & Florida............. Savannah Florida ¿¿ Western.
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 Goshen & St. Louis.............. Lake Shore & Michigan Southern.
Sugar Refineries............................... American Sugar Refinery.
Spartanburg ¿¿ Asheville.................Asheville & Spartansburg.
Spokane & Palouse...........................Northern Pacific.
Sterling Mountain R R .......................Sterling Iron & R’y Co.(see Miscel’ s)
Steubenville & Indiana.....................Pittsburg Cinn. Chic. & St. Louis.
Stockton ¿1 Copperopolis.................. Southern Pacific of California.
Sugar Trust................ .......................American Sugar Refining.
Sunbury & Erie..... ............................ Philadelphia & Erie.
Syracuse Northern........................... Rome Watertown ¿¿ Ogdensburg.
Taylor’s Falls & Lake Superior.......St. Paul & Duluth.
Tarkio Valley......................................Kan. City St. Jos. ¿¿ Council Bluffs.
Tebo & Neosho....................................Missouri Kansas & Texas.
Terre Haute & Southeastern............Evansville ¿s 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 B elt......................................... Wheeling & Lake Erie.
Toledo Cincinnati ¿¿ St. Louis..........Toledo St. Louis ¿¿ Kansas City.
Toronto Grey ¿5 Bruce......................Canadian Pacific.
Troy & Boston...................................Fitchburg.
Tunnel RR. of St. Louis.......... ......... Terminal Ass’n of St. Louis (Miscel.)
Union. ; ...............................................Northern Central.
Union Railway of Chattanooga___.Chattanooga Union.
Union Elevated..................................Brooklyn Elevated.
Union & Logansport........................ Pittsburg Cincin. Chicago & St. L.
Upper Coos........... ......... ................... Maine Central.
Utah Northern.................................... Oregon Short Line & Utah North’n.
Utah Southern.................................... Oregon Short Line & Utah North’n.
Utica & Black River..................... .Rome Watertown & Ogdensburg.
Venice ¿5 Carondelet........................Loins ville Evansville & St. Louis.
Verdigris Val. Independ’ce ¿¿ West..Missouri Pacific.
Vernon Greensburg ¿c Rushville---- Cincin. Indianap. St. L. & Chicago.
Vicksburg & Meridian......................Alabama & Vicksburg.
Virginia & Tennessee........................ Norfolk & Western.
Y ork & Peach Bottom..................... Baltimore & Lehigh.
W a co & Northwestern..... .................Houston ¿¿ Texas Central.
Wabash Western.................................Wabash.
Warren & Franklin............................Western New York & Pennsylvania
Warwick Valley.................................Lehigh ¿¿ Hudson River.
Washington City Va. Mid. & Gt. So.Virginia Midland.
Washington Ohio & Western............Richmond & Danville.
Watertown & Rome..... ..................... Rome Watertown & Ogdensburg.
Waynesbprg ¿¿ Canton
.......... Cleveland & Canton.
Western Maryland Tidewater......... Western Maryland.
Western Minnesota........................... St. Paul ¿^Northern Pacific.
Western Pacific........ .........................Central Pacific.
Western Union RR ............J............... Chicago Milwaukee ¿¿ St. Paul.
West Wisconsin................................. Chic. St. Paul Minneap. ¿¿ Omaha
Whiskey Trust................................... Distilling & Cattle Feeding.
Wichita ¿c Southwestern................... Atchison Topeka & Santa Fe.
Wichita & Western...........................A tchison Topeka & Santa Fe.
Winona & St. Peter............................ Chicago & Northwestern.
Wisconsin & Minnesota....................Wisconsin Central Company.
Wisconsin Minnesota & Pacific........ Minneapolis & St. Louis.
Wisconsin Valley............................. ..Chicago Milwaukee & St. Paul.
Wyandotte County Bridge ¿¿ Term..KansasCity Bridge ¿¿ Terminal.
Zanesville Terminal...................... ..Columbus Shawnee & Hocking.
STOCK AND BOND TABLES
NOTES.
These tables are expressly intended to be used in connection with the information concerning investment matters published from week
to week in the Ch ronicle . At the conclusion of the statement for each company, therefore, is furnished a complete index of all items per
taining to that company published in the Ch ronicle within the last eighteen months. Annual reports are in black-faced figures.
In case any company eannot be found in its regular alphabetical order (the railroads being arranged together first, and miscellaneous
companies following), reference should be made to the index on a preceding page, as many roads having been leased or consolidated, their
securities are placed under the name of the controlling company.
The dividends appearing in the remarks are those actually paid 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 that
they often differ from the dividends given in connection with the earnings.
The following will give explanations of each of the columns of the tables b elow :
Description.—Abbreviations used a re: M. for “ mortgage; ” gen. M. for “ general mortgage; ” con. M. or consol. M. for “ consolidated mort
gage ; ” inc. M. for “ income m ortgage; ” g. for “ gold ; ” guar, for “ guaranteed; ” cum. for “ cumulative; ” non-cum. for “ non-oumula.
tiv e ; ” conv. for “ convertible; ” pref. for “ preferred; ” s. f. for “ sinking fu n d; ” 1. gr. for “ land grant; ” r. for “ registered; ” o. for
“ coupon; ” c.* for “ coupon but may be registered as to principal; ” o. & r. for “ coupon and registered; ” br. for “ branch; ” end. for
“ endorsed-;” “ red.” for redeemable, meaning subject to call before maturity (so “ red. at 100 ” means subject to call at par); “ d’rh*
or “ drawn” for drawn by lot from time to time and paid from the sinking fund.
Dale o f Bonds.—The date of issue on the face of the bonds is referred to in this column.
Miles o f Road.—Opposite stocks, this means the miles of road ow ned; opposite bonds, the miles covered by the mortgage.
1Size or Par Value.—These figures, unless otherwise marked, are dollars, showing the denominations or par value. The figures “ 100, <fec.,” signify
$100 and larger.
Rate Per Oent.—The interest per annum is given for bonds, but the per cent of last dividend for stocks; g. means g old ; x, extra; s. stock or scrip.
When Payable.—J. & J. stands for January and J u ly; F, & A., February and August; M. & S., March and September; A. & O., 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 slocks.
Subscribers w i ll con fer a great fa v or by g iv in g im m ediate notice o f an y error discovered in tbese T a bles.
Bonds—Prinoi
RAILROADS.
INTEREST OR DIVIDENDS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
of
Far
For explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Road. Bonds Value.
above.
Cent. Payable
Alabama Great Southern—1st mortgage, gold...... c
Gen. M. sterl. £1,160,000, red. at llO June 1, ’98 .o
Debentures, gold.......................................................
Certificates (issued by English Co.) sinking fund..
Alabama Midland—IstM. ($16,000 p. m.),gold....... c
1st M., gold, Sprague to Luverne, $15,000 p.m ..c*
Ala. N. 0. Tex. <6Pac. June.—“ A” deb., see rem’ks.c*
“ B” deben., inc., redeemable after 1910 at 115.c*
“ C” debentures, income, subject to call at 100___
Alabama <6 Vicksburg—Stock.....................................
Vicksburg & Mer. 1st mort., stamped. See rem...
Consolidated 1st mortgage, gold ($1,800,000)__
2d mort., inc. for 5 years, non-cum., g. ($700,000)
Alb.Fla.&N.—1st M.,1st sec.N.Div,g,$12,000p.m.c*
Albany <6 Susq.—Stock, 7 p. c. rentalD. & H. Canal..
Albany City loan (sinking fund, 1 per ct. yearly).c
Consol. M. (guar. D. & H. endorsed on bonds)..c*<fcr
Allegheny <£ Kinzua—1st M., for $500,000, gold, .c*
Allegheny Valley—General mortgage (Eiv. C iv.). .c*
1st mort., Eastern Exten., guar, by Penn. R R ..c
2d mort., Eastern ext., to State Pa........................ r
Funding income bonds, with traffic guarantee.. .c
290
290
Ì75
34
143
143
143
143
142
142
42
132
110
110
259
1878 $1,000 $1,750,000
£326,000
£100
1888
670,000
1886
£100
£81,935
1888 Various.
1888 $1,000 $2,800,000
1890
1,000
500,000
£750,000
1890
£100
1,050,000
1890
£100
840,000
1890
£100
100
700,000
1,000
1,000,000
1881
1889 100 &c.
359,700
1889 100 &c.
700,000
1,000
1890
(?)
3,500,000
100
1865
1,000
1,000,000
1,000 10,000,000
1876
1890
1,000
285,000
1866
1,000
4,000,000
1,000 10,000,000
1870
1870 100,000
2,200,000
1874 100 &c.
9,728,500
A d iro n d ack & St. L aw ren ce —Under construction from Herbi
mer, N. Y., on the N. Y. Central & Hud. River RR., through the heart of
the Adirondacbs to Malone on the Central Vermont RR., 165 miles, to
be opened through to Malone in 1892. The Herkimer Newport &
Poland, which forms part of the company’s line, was purchased in 1891
and made standard gauge. President, Dr. Wni. Seward Webb, New
Y ork City.
A la b a m a Great Sou th ern .—("See Map East Tennessee Virginia <£
Georgia).—Owns Wauhatchie, Tenn., to Meridian, Miss., 290 m iles; leases
Wauhatchie to Chattanooga, 5 miles; total operated, 295 miles. The
Alabama & Chattanooga Railroad made default January 1,1871, and
.road was sold under foreclosure 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
is itself controlled by the East Tennessee Virginia & Georgia Rail.road Company. The English company has £134,000 debentures ex
changeable 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, the
East Tennessee Virginia & Georgia purchased £340,000 “ A” shares and
£783,010 “ B ” shares (pledged to secure its Cincinnati Extension bonds).
.See V. 50, p. 560.
Dividends on “ A” assenting shares for period since December 31,
1887 (at 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 cent; in 1890,
9 ; in 1891, May, 3. Enough of the general mortgage bonds are
reserved to retire the 1st 6s of 1908. The English and American com
panies own jointly $1,000,000 Cincinnati New Orleans & Texas Pacific
Junction stock. Car trust notes outstanding June 30,1890, $168,549;
certificates for funded arrears of dividend, $398,204. Fiscal year ends
June 30. From July 1,1890, to May 31,1891 (11 months), gross earn
ings were $1,798,533, against $1,809,599 in 1889-90; net, $609,246,
against $638,672. In 1889-90 gross earnings were $1,957,365; net over
expenses and taxes, $628,988; dividends received, $40,000 additional;
ross in 1888-89, $1,688,577 ; net, $385,462; dividends received,
30,000—(V. 50, p. 560; V. 51, p. 612.)
A la b a m a M id la n d .—Completed in February, 1890, from Bainbridge, Ga., on the Savannah Florida & Western, northwesterly
‘ to a connection with the Louisville & Nashville at Montgomery,
Ala., about 175 miles; branch, Sprague Junction to Luverne, 34 miles;
total 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
mortgage of 1888 was guaranteed till November 1,1892, by the Con
struction Company (the Alabama Terminal & Improvement Company),
and $600,000 in county and town notes to secure the same was de
posited with the Metropolitan Trust Company, trustee of the mortgage.
Interest due May 1,1891, however, was not paid, and in June, 1891, it
“was proposed to soale the interest to 5 per cent, and stamp the bonds
^principal and interest guaranteed by the Savannah Florida & Western.
A number of the bondholders assented to this proposition. See
Teferences below Gross earnings from August 1 to March 31,1891,
were $365,759. Stock—Common, $2;625,00u, and preferred, 6 per cent
f
6 g.
5 g6 g.
4
6 g.
6 g5 g5 g5
3
6
5 g5 g6 g3^2
6
6 g. & 7
5 g.
7-30
7
5
7
J. & J. N.Y.,Farm.L.&Tr.& Bos
J. & D. London,Comp’y’s office.
F. & A.
do
do
do
do
M. & N. May ,’91 cp. “ purchas’d”
J. & D.
M. & N.
See remarks.
M. & N.
See remarks.
A. & 0.
See remarks.
Cincinnati, Office.
A. & 0. N. Y., Central Trust Co.
A. & o.
do
do
A. & o.
do
do
J. & ,1.
Baltimore.
J. & J. N. Y. ,Del. &Hud.Can. Co.
M. & N.
do
do
A. & o.
do
do
F. & A. N. Y. Central Trust Co.
J. & ,J. N.Y.,Phila. & Pittsburg.
A. & (). Phil., Pa. RR. Co. &Lon.
J. & J. July 18,1887, last paid.
A. & o. April, 1884, last paid.
Jan. 1, 1908
Dec. 1. 1927
Aug. 15,1903
By sink’g fund
Nov. 1, 1928
Dec. 1, 1929
N ov.l,1910-40
N ov.l, 1910-40
Nov. 1, 1940
Nov. 1, 1890
Apr. 1, 1921
Apr. 1, 1921
Apr. 1, 1921
July 1, 1920
July 2, 1891
1895-1897
April 1, 1906
See remarks.
Mch. 1, 1896
April 1, 1910
lOD.OOO y’rly.
Oct. 1, 1894
non-cumulative, $1,600,000 (par $100);of which the Plant Investment
Company owns $2,425,000 common and $1,200,000 preferred. New
York office, 45 Wall Street.—(V. 50, p. 312, 422, 735, 770; V. 51 p. 50;
V. 52, p. 680, 898.)
A lab am a N ew Orleans T ex a s & Pacific J u n ctio n (L im
ited.)—( See Map Cincinnati New Orleans <6 Texas Pacific.)—This is an
English company controlling the Alabama & Vicksburg, 142 m iles;
Vicksburg Shreveport & Pacific, 189 miles; New Orleans & North East
ern, 195 m iles; and Spanish Fort Railway, near New 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 deben
tures were issued in April, 1891. See details V. 51, p. 537.
The preferred or “ A” shares are £1,500,000, having a preference for
6 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
cumulative. They, as also the “ B ” debentures, are redeemable at the
option of the company after Nov. 1,1910, at 115. The “ B ” and “ C”
debentures 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 any time at par, on six
months’ notice. The company holds the following securities, viz.: Of
Alabama & Vicksburg $30,000 1st mortgage, $144,000 consols, $388,000 2d mortgage incomes and $388,000 stock; of Vicksburg Shreve
port & Pacific, $3,692,000 1st mortgage, $1,93.1,000 incomes and $1,594,000 stock; of New Orleans & North Eastern, $4,900,0001st mortage and $4,320,000 stock; of New Orleans Spanish Fort & Lake RR.,
300,000
first mortgage and $200,000 common stock ; of Cincinnati
Southern, $532,000 stock. (V. 50, p .560; V. 51, p. 537.)
A la b a m a & V ic k sb u rg .—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 are
reserved for the Vicksburg & Meridian ls t s ; 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 mortgage,
Central Trust Co. of N. Y. Coupons of October, 1889, and April, 1890,
on the incomes were paid April 1,1890. Stock, $700,000; par $100. Car
trusts, $35,925. First dividend (3 per cent) was paid Nov. 1,1890.
From July 1, 1890, to May 31,1891 (11 months), gross earnings were
$603,271, against $626,114 in 1889-90; net, $149,000, against $171,000. In year ending June 30,1890, gross earnings were $676,662; net$178,714; surplus over charges, $63,368. (V. 48, p. 209; V. 51, p. 3 0 3 .)
A lb a n y F lo r id a & N orth ern .—Owns road from Albany, Ga.,
to Cordele, 35 miles, and projected from Cordele to the South Carolina
line at Augusta, from Albany to the Florida State line in the direction
of Bainbriage, and from Albany to the Florida line in the direction of
Quitman, Ga. In 1891 leased to the Savannah Americus & Montgom
ery Railroad Co. See V. 51, p. 608.
f
8
INTESTOßS’
SUPPLEMENT.
[Vol. LUI,
Subscribers w i l l confer a great favor b y g iv in g Im m ediate notice o f any error discovered In these T a bles.
Bonds—Princi
INTEEEST OB DIVIDENDS.
BAILBOADS.
Due..
Miles Date Size, or
Amount Bate per When Where Payable and by pal,When
Par
Slocks—Last
of
For explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Cent. Payable
Boad. Bonds Yalue.
on first page of tables.
3
1889
66
66
254
34
1885
1887
1879
1879
471
143
1888
1885
New general mortgage, gold............................c*&r 6,619
New tec. M. $80,000,000,non-cu. ,g.,red.at par. c*&r 6,619
Atchison System.—Atlantic & Pacific.—
112
Central Div. 1st BB. & land, gr. M........................
Guar, trust mortgage gold, (redeemable at 105). c* 672
West. Division 2d M. guar.,g. (s. f. drawn at 105).c* 560
Inc. bonds, non-cum., W. D. ($18,750p. m .). .c*&r
Central Div., 1st land grant mort., cumulat___c*
Income bonds, non-cum. ($18,750 per mile). .c*
Atchison System—Colorado Midland—
1st mortgage, gold ($25,000 per mite)................c* 252
Consol, mortgage for $6,000,000, gold, guar---- c* 267
Equip, bonds, s. f., drawh at 105 .......................c*
Equip, bonds,Ser. B., s. f.,d r’n a tl0 5 a fterl8 9 4.c.
Collateral trust notes................................................
Busk Tunnel B’y 1st M. for $1,500,000 gold, guar
Atchison System—'St. Louis cGSan Francisco—
1st preferred, 7 per cent, not cumulative.............
2d mort. (now 1st), A, gold ) (Pacific to Seneca,c* 294
Series B, g o ld ................. S- Mo.,& branches, c* 294
294
Series C, g o ld .................. )
294 mites.
c*
1889
1889
$1,000
$450,000
100
500,000
1,000
500,000
1,000
500,000
1,000
4,070,000
1,000
542,000
100 101,492,747
5,000
7,000,000
1,000
1,500,000
(?)
500 &c. 130,160,000
500 &c. 79,100,000
1871
1887
1887
1880
1871
1882
500 &c.
1,189,905
1,000 17,604,000
1,000
5,500,000
50 &c. 12,000,000
500 &C.
796,629
1,000
1,823,000
Allentown Terminal RR.—1st mortgage, guar___c*
Arcadia, Gulf, Coast, LakeVd—Stocks ($1,500,000).
Asheville <&Spartanburg—1st mortgage, gold........ c
2d mortgage, gold..................................................c
Atchison Col. (6 Pacific—1st M.($16,000 p. m.) gu .. c*
Atchison Jewell Co. <&West.—1st M., guar. C. B.U. P.c
Atchison Topeka <GSanta Fe—Stock............................
Guarantee fund notes secured by mort. red. atlOO
Chicago & St. Louis 1st mort. ($10,000 per mile).
1886
1890
1888
1890
1889
1890
1,000
1,000
1,000
1,000
1,000
100
1876 100 &C.
1876 500 &C.
1876 500 &c.
4 g. J. & J.
New York.
July 1, 191»
6 g. A. & O.
6 g. J. & J.
6
Q.—F.
6
Q .-F .
Q.—F.
*2
M. & N.
6
6
M. & S.
N. Y. .Fourth Nat. Bank.
do
do
N.Y.U.P.Of.& Un.Tr.Co.
N.Y.U.P.Of.& Un.Tr.Co.
N.Y., Boston & Chicago.
Bostn, Kidder, Peabody.
N.Y., Farm’s L. &Tr. Co.
Aprii i , 1925
July 1, 1937
May 1, 1905
May 1, 1905
Nov. 15,1888
Nov. 1, 1891
Mch. 1, 1915
4 g. J. & J. } N. Y. Union Trust, ) July 1, 1989
5 g. Sept. 1. 3 Boston and London. 3 July 1, 1989
M. & N. N. Y., Baring, Magoun.
6
4 g. J. & J. N. Y., Mercantile Tr. Co.
do
do
6 g. M. & S.
6
A. & 0.
6
At Mat.
6
J. & D.
6,250,000
3,889,866
450,000
185,000
300,000
550,000
6
4
7
6
7
7
(?)
500,000
2,766,500
2,400,000
2
F. &
6 g. M. &
6 g. M. &
6 g. M. &
g.
g.
g.
g.
g.
g.
J.
F.
M.
J.
M.
J.
&
&
&
&
&
&
D. N. Y., Central Trust Co.
A.
do
do
S. N. Y., S. S. Sands & Co.
do
do
J.
do
do
N.
J. N.Y., Continental Tr. Co.
Nov. 1, 1891
Jan. 1, 1937
Sept. 1,1907.
Oct. 1, 1910
Nov., 1901
June 1, 1922
June
Feb.
Mch.
Jan.
May
July
1,
1,
1,
1,
1,
1,
1936
1949
18981909
1892
1935
A. N.Y.,Baring,Magoun&C Feb. 10,18 9 9
Nov. 1, 1906
N.
do
do
N.
do
do
Nov. 1, 1906
N.
do
do
Nov. 1, 1906
A lb a n y & Susquehanna . — ( See Map Delaware <6Hudson Canal.)— miles; the New Mexico & Arizona, 87 mites; the Southern California
Owns Albany, N. Y., to Binghamton, N. Y., 142 miles; branches, Duanes-1 Bailway, 476 mites; the St. Louis Kansas City & Colorado BB., 61
burg Junction, N. Y .,to Schenectady, 14 miles; Cobleskill, N. Y., to mites. Boads owned jointly with other railroad companies: Leaven
Cherry Valley, 21 miles; operates Lackawanna & Susquehanna BE., 22 worth Topeka & South Western, 57 mites; Manhattan Alma & Burlin
miles; East Glenville to Coons, 10 miles; total operated, 209 miles. game, 56 mites; Wichita & Western, 125 mites; Atlantic & Pacific, 927
Leased ior 150 years from February, 1870, to Delaware & Hudson m iles; total owned jointly, 1,165 mites (of which 1,051 miles are now
Canal Co., which owns $450,000 stock; rental, 7 per cent on stock. wholly controlled). Total (including *2 of mileage ODerated jointly),
Additions and betterments charged to lessors, and cost made part ■'of 7,104 mites.
To the above in May, 1890, was added the St. Louis & San Francisco
Investment. The consolidated mortgage is for $10,000,000, of which
$3,000,000 are 7 per cents, currency; the principal of the 6s is also pay Bailway (1,851 miles), and in October, 1890, the Colorado Midland (349
miles), making a grand total of 9,310 miles.
able in “ lawful money,” but the interest in gold.
In November, 1890, under a traffic arrangement with the Chicago
From July 1,1890, to Mch. 31,1891 (9 months) gross earnings were
$2,863,102, against $2,887,603 in 1889; net, $1,210,923, against Peoria & St. Louis, a through line between Chicago and St. Louis was
opened.
See Y. 51, p. 608.
$1,361,946; surplus over charges, $357,801, against $516,993. In
1889-90, gross, $3,385,195 ; net, $1,331,095—(V. 49 p. 174, 617, 826;
Org an ization , L eases , &c.—The Atchison Topeka & Santa Fe Com
V. 50, p. 245, 707 ; V. 51, p. 207, 681 ; V. 52, 280, 762.1
pany was incorporated March 3,1863. The main line of 471 mites waa
A llegh en y & Itln zu a .—Line of road projected 70 miles, of which opened December 23,1872. The whole system outside of this main line
42 miles between Bradford, Pa., and Corydon, Pa., and between Bed is nominally under different corporations, of which the ownership is
House, N. Y ., and Gilbert, Pa., &c., are in operation, and the balance under vested in the Atchison and the roads usually teased to it.
In August, 1884, an agreement was made through the Atlantic & Pa
construction. The mortgage is further secured by 30,000 acres of tim
ber land accessible to the railroad, and this will be increased to 46,000 cific for the control of the Mojave Division of the Southern Pacific and
acres when the road is completed. The bonds mature $15,000 yearly a right for traffic over the Southern Pacific to San Francisco. The At
on November l j beginning with 1890, the lowest consecutive numbers lantic & Pacific first and second mortgage bonds are guaranteed one-half
each, severally but not jointly, by the Atchison and San Francisco cos
outstanding being those paid in each year.
On October 15,1889, the company issued its plan ot reorganization,
A lleg h en y V a lle y .—Owns from Pittsburg to Oil City, Pa., 132
was simple but comprehensive. No assessment was made on the
miles ; Dranclies—Bed Bank, Pa., to Driftwood, 110 miles ; others, 17 which
miles; total operated, 259 miles. Stock, $2,166,500 ; par, $50. Of the stock, and new bonds were authorized to retire the existing indebted
ness.
The plan was successfully carried out, and of the $148,446,Income bonds the Pennsylvania BB., the Northern Central and the Phil 000 prior
bonds immediaiely treated, less than l^a per cent (or about
adelphia & Erie hold $6,087,000. No interest has been paid on the
$1,900,000)
remained unassented in December, 1890. See the plan
incomes since April, 1884. The coupons of guaranteed bonds held by the
Y. 49, p. 504, and article on pp. 483, 597; also particulars below.
Pennsylvania BB. for advances amount to $6,457,780. The Pennsyl inIn
May,
1890,
control of the St. Louis & San Francisco Bailway Com
vania BB. owns also $1,251,050 stock and $5,510,000 income bonds. In pany was acquired,
$22,000,000 of Atchison stock being issued to pur
May, 1884, receivers were appointed, Pennsylvania and other railroads
chase
the
San
Francisco
Company’s $25,500,000 common and preferred
being plaintiffs. Suits are pending. See references to Chronicle
stock.
See
V.
50,
p.
734. Through the St. Louis & San Francisco full
below. Interest due and unpaid on second mortgage December 31,
control
of
the
Atlantic
&
Pacific is seoured.
1890, $330,000.
The Chicago Elevated Terminal Bailway Company was organized in
From January 1 to May 31 in 1891 (5 months) gross earnings were
August,
1890,
to
secure
to
this company a better means of entering Chi
$964,600, against $979,651 in 1890; net, $369,899, against
See V. 51, p. 239.
$403,672, In 1890 gross, $2,592,101; net, $1,127,076; interest, cago,
In
October,
1890,
the
entire
stock of the Colorado Midland
$1,102,000; real estate and new equipment, $114,287 ; rentals, etc., ($8,000,000) was purchased on capital
terms equivalent to $1,600,000 in cash
$6,469; deficit, $95,679. In 1889 gross, $2,369,986 ; net, $997,397;
$5,333,400 of Atchison stock. See V. 51, p. 608.
deficit under charges, $289,758.—(V. 50, p. 204,482, 559, 621, 8 0 0 ; V. and
Sto ck and B onds .—Dividends have been—in 1879, 3 per cent; m
52, p, 795.)
1880, 8*2; in 1881, 6 cash and 50 stock; from 1882 to 1886, inclusive, 6
A lle n to w n T e r m in a l.—Owns 3 miles of railroad in Allentown, per cent; in 1887, ta g in 1888, 5%; in 1889 and since, nil.
Pa., connecting the East Pennsylvania (Philadelphia & Beading) with
Price of stock (in Boston till 1886 and afterwards in New York) was
the Central o f New Jersey. Leased for 999 years to Philadelphia & te 1881, 92®154i45 in 1882, 78'78@9618; in 1883, 78®86i4! in 1884, 591®
Beading and Central of New Jersey (by assignment from Lehigh Coal & @80; in 1885,
in 1886, 8478@99%; in 1887, 903s@11878; ta
Navigation) at interest on bonds and 5 per cent on $450,000 stock (par 1888,
in 1889, 261e'@58; in 1890, 2312'@5038; in 1891, to
$50), bonds being guaranteed, principal and interest, by Philadelphia & July 17, inclusive, 2458@3458.
Beading and Lehigh Coal & Navigation.—(V. 50, p. 422.)
In August, 1890, a dividend of 2% per cent was declared on the new
A rcad ia , G u lf, Coast, L a k elan d S S . - Under construction incomes for the nine months ending June 30,1890, and in July, 1891,
from Lakeland, Fla., connecting with Northern and Western trunk 2 per cent was declared for the year ending June 30, 1891. See
lines, to Arcadia, and thence to deep water on the Gulf of Mexico; total Chro nicle of July 25.
Of the general mortgage 4 per cents, the authorized issue on present
length, including branches, about 200 miles, steel standard gauge.
Traverses the phosphate district of Florida. Land grant 3,840 acres per mileage is $150,000,000; of these there are reserved $17,6^6,000 for
treatment
of old bonds and guaranteed notes not directly treated in the
mile. Private citizens have donated lands said to be of considerable value.
Stock for $500,000 was offered for sale at par in June, 1891. Stock reorganization plan, leaving a balance of $132,324,000 issued and to
authorized $1,500,000 ; par value $100. Anthony Peters, President, 88 be issued. The bonds outstanding not directly treated in reorganiza
tion, and against which $17,676,000 of 4s are reserved, are as follow s:
Lincoln Street, Boston.
A sh e ville & Sp artanburg.—f&ee Map Richmond <& West Point Ter Atchison guaranteed fund notes, $7,000,000; Chicago & St. Louis,
minât).—Owns from Spartanburg Junction, S. C., to Asheville Jnnction- $1,500,000; St. Joseph St. Louis & Santa Fe first mortgage bonds,
N. C., 66 miles. Sold in foreclosure April, 1881, and reorganized. Con $8,000; the St. Joseph Terminal & Bailroad Company (Atchison’ s half),
trolled by Bichmond & West Point Terminal, which owns $1,047,981 $175,000; Atlantic & Pacific guaranteed 4 per cent bonds (Atchison’ s
of the $1,050,000 stock, and $215,000 second mortgage bonds, and has half), $8,802,000; Osage Carbon Co., $191,000; total $17,676,000.
The general mortgage 4s and, subiect to these, the income 5s. are
pledged them (except a few shares o f stock) under its collateral trust
of 1889. In 1890 gross earnings were $150,133, against $121,225 in both secured by one indenture to the Union Trust Company o f New
York, Trustee, and cover the entire property of the company, all shares
1889 ; net, $12,303, against deficit of $2,941.
A tc h iso n C o lo r a d o & P a c if ic .—Owns Waterville, Kan., to Wash of stock owned or controlled (except sufficient to qualify directors), all
ington, Kan., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles; bonds owned and pledged under trust deeds, and all securities deposited
Logan to Lenora, Kan., 25 miles ; Downs, Kan., to Ball City, Kan., 24 under the reorganization. The 4s may be issued to an amount not
mites ; Yuma, Kan., to Warwick, Kan., 31 miles ; total, 254 miles. The exceeding $150,000,000 on present property, to carry out the reorgani
road forms an extension of the Central Branch Union Pacific, which zation plan, and additional amounts may be issued at $20,000 per mile
leased it in 1879 for 25 years, and guaranteed the bonds. Controlled by for extensions or double track. The incomes aré limited to $80,000,000,
Union Pacific, but operated by Missouri Pacific. Stock, $1,522,400 (par are non-cumulative, and may be redeemed at par on six months’ notice.
Abstracts of all the principal prior mortgages of the Atchison Topeka.
$100), of which Union Pacific and Central Branch own $920,300. Ben& Santa Fe Bailroad Company were published in the Ch ronicle , V. 49,
tal is $254,370 per annum.
p. 546-551, and of the new mortgages te V. 49, p. 857-861. Of the old
A tc h iso n J e w e ll County & W e ste rn .—Jamestown, Kan., to bonds there remained outstanding in December, 1890, about $1,900,000.
Burr Oak, Kan., 34 mites. Under same auspices and control as Atchison
Operations , F inances , &c .—The company receives $30,000 a month
Colorado & Pacific. Stock, $202,800 (par $100), of which Centra] from the Sonora Bailway subsidy, payable in Mexican currency. Pay
Branch Union Pacific owns $105,000. Bental is $34,000 per annum.
ments began in August, 1890, and will continue till $1,681,400 in all
A tc h iso n T o p ek a & Santa F e . —(See Maps.)—L ine oe B o a d .— has been paid. See V. 52, p. 49.
F rom July 1,-1890, to May 31, 1891 (11 months), gross earnings
The Atchison Topeka & Santa Fe teased and consolidated lines include
the main line from Chicago, 111., to Kansas City (458 mites), and thence on 7,114 mites were $30,817,519, against $28,480,813, in 1889-90 on
to Denver, Col., 1,210 mites; also from La Junta, Col., via Albu 7,110 mites; net, $8,785,913, against $9,531,699.
querque, N. M. (on the Atlantic & Pacific), to El Paso, Tex., 601 mites ;
Fiscal year ends June 30. For the year 1890-91 the advance state
branches in Kansas, etc., 2,771 mites ; total, 4,582 mites. In addition ment (June partly estimated) showed a surplus over all fixed eharges
there are the Gulf Colorado & Santa Fe By. (owned absolutely), run of $2,531,000. On this statement the directors declared a dividend o f
ning from Galveston, Tex., to Purcell, Ind. Ter., 518 mites, and branches 2 per cent on the income bonds. Beport for 1889-90 was given atlength
540 mites; the Sonora By., from Nogales to Guaymas, Mexico 262 in the C hronicle , V. 51, p. 831. See also p. 828 and article on p. 812.
J oly,
RAILROAD
1891.]
STOCKS
AN D
9
BONDS.
Subscribers w i l l confer a great faver by g iv in g im m ed ia te notice o f any error discovered in these T a b les.
Bonds—Prino.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due*
of
of
Par
Stocks—Last
Outstanding
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
RAILROADS.
on first page ol tables.
A tchison System - St. Louis <6SanFran.-( Concluded)
1st on Mo.&West.RR.,g.,$5,000yearly dr.at 105.e*
82
Collateral trust bonds, gold, sink. fd. not drawn, c* 103
Gen. M., g. (1st on 365 m.) $7,807,000 are 6s...c* 964
Collat. Tr. M. onbr’cbes ($20,000 per mile), gold.e*
55
Consol, mort. for $50,000,000, gold........
1048
Equip, mort., gold, $80,000 dr. ann’lly at 105. .c*
Equipment Trust $23,000 due each A. & O...........
St. L. WiCh. & West. 1st M., red. at 105, g., guar.. o* 149
Kan. C. & S. W. 1st M., g., red. at 110, int. guar..c*
62
St. L. Kan. & S. W. 1st M., g., guar., red. at 110.o
70
St. L. Salem & Ark. 1st M., guar., redeem, at 105 .c*
54
Kan.Midland 1st M .,g.,$15,000p.m .,int.guar..c 107
Ft. S. & Van Bur. Bridge 1st M., g., dr. at 105, guar.
Atlanta <&Charlotte-*-Stock (5p.c.rentalRich.&Dan.) 269
Preferred mortgage, redeemable at 100............ c* 26512
1st mortgage..................................., .................... r 26512
Income bonds (not cumulative), guaranteed___r
Atlanta & Florida—1st mort. ($8,000p. m.) gold..c* Ì05
Atlanta <£ West Point—Deben. cert, redeem, in 1891.
Atlantic City—1st mortgage, gold........................... c* 104
Atlantic & Danville—1st mort. gold, $16,000 p. m.c* 299
Atlantic (6 St. Lawrence—Stock, 6%rental Grand Tr’k 151
Augusta & Savannah—Stock 7% rental Central Ga..
53
Bald Eagle Talley—1st mort. (s. f., drawn at 100). .r
89
Baltimore Belt—IstM. for $6,000,000, g.,int. gu.c*
8
Balt. <&Eastern Shore—Consol, mortgage, gold, c*Ar
87
Baltimore <6 Lehigh.—York & Peach B. 1st & 2d Ms.
40
Maryland Central 1st M., int. 4 p. c. till Jan., 1899
44
Susquehanna Div. 1st mort. for $2,500,000, gold.
1879 $1,000
1880
1,000
1881
1,000
1887
1,000
1890 100 &c.
1880
1,000
1884
1,000
1879
1,000
1886
1,000
1886
1,000
1886
1,000
1887
1,000
1,000
1885
100
1,000
1877
1877
1,000
1880
500
1889
1,000
1881
1,000
1889
1,000
1,000
1887
100
100
1880
1,000
1890
1,000
1890
1,000
1882 50,&c.
1889
1891
OPERATIONS AND FISCAL RESULTS FOR YEARS ENDING JUNE 30.
Miles operated June 3 0 .........
Operations—
Rate per passenger per mile,
Rate per ton per mile............
Earnings—
Passenger...............................
Freight.....................................
Mail, express, &e....................
1888-89.
7,112
1889-90.
7,110
2'420 cts.
1-278 cts.
1888-89.
$7.199,994
17^914,975
2,457,900
2-234 cts
1-228 cts
1889-90.
$6,610,034
21,733,154
2,661,169
Total gross earnings................................$27,572,869
Total operating expenses............................. 20,800,478
$31,004,357
20,920,386
Net earnings.............................................. $6,772,391
$10,083,971
Per cent of operating expenses to earnings.
75-44
67-48
INCOME ACCT. OF CONSOL. SYSTEM—9 MOS. OCT. 1,1889, TO JUNE 30,1890.
Gross earnings............. ....................................................... $22,623,952
Total net income, including income from investm’ts ($412,685) and sundry profits ($441,515)..... ............................... $8,486,550
Deduct—
Interest on guaranteed fund notes and 4 p. ct. generals___ $3,947,709
Interest on 5 per cent incomes (2% p. ct.).............................
2,195,066
Interest on other b o n d s ...........................................................
68,350
319,834
Rent of track and rolling stock___; .......................................
Taxes............................................ ............... ..................... . . . . . .
940,107
St. Louis & San Fran. Ry. (under agreement of Oct., 1886)..
198,132
St. Louis Kansas City & Colorado deficit...............................
101,684
Atlantic & Pacific deficit................................ .................... ......
220,256
Miscellaneous........ .......................... .......................................
47,218
Total deductions................................................................. $8,038,356
Balance, surplus for nine months...........................................
$448,194
- (Y. 50. p.314, 351, 422,482, 661, 734,755; V. 51, p. 20, 142, 171,
205, 344, 383, 493, 608, 786, 81 2, 82 8, 8 3 1 ; Y. 52, p. 40, 547, 570,
86 3 ; V. 53, p. 21.)
A tc h iso n System ,—A tla n tic & P acific.—(See Map Atchison
Topeka <£ Santa Fe).—Owns Western division from Isleta, N. M., near
Albuquerque, on Atchison, Topeka & Santa Fe, to Big Colorado River,
560 miles, with Gallup junction branch, 4 miles. Leases from Big Colo
rado River to Mojave, Cal., 242 miles; Atlantic & Pacific junction to
Albuquerque, N. M., 13 miles; total operated, 819 miles. Owns also
Central Division, Seneca, Mo., to Sapulpa in the Indian Territory, 112
miles, operated by the St. Louis & San Francisco Railway Co.
This company, chartered by act of Congress July 27, 1866, forms an
important link in the Atchison system. Its authorized stock is $100,000,000 (par, $100), of which $79,760,300 has been issued, $51,503,800 of
this being owned by the Atchison Topeka & Santa Fe and the St. Louis
& San Francisco companies equally and deposited in trust for thirty
years. The stock is classed thus: Western Division, common stock,
$78,271,600; Missouri Division, preferred, $78,700; Central Division,
preferred, $1,400,000.
The guaranteed trust bonds due in 1937 are guaranteed severally (but
not jointly) by the Atchison and St. Louis & San Francisco, each com
pany guaranteeing one-half of each bond. They are redeemable at any
time at 105. The 2d mortgage bonds have same guarantee as first
mortgage; the sinking fund is $100,000 per year; bonds may be drawn
at 105. (Atchison owns $3,009,000 of these seconds.) [Abstracts of all
the mortgages were published in the Ch ro nicle , V. 49, pp. 302 to 304.1
In 1884 the Southern Pacific sold the 242 miles of road from Mojave to
The Needles, on the Colorado River, to this company for $7,271,100,
payable 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
to this piece of road is given, the Atlantic & Pacific takes possession and
pays 6 per cent per annum on the $7,271,000. The same negotiation
gave a right to run through trains to San Francisco over the Southern
and Central Pacific lines either on a mileage basis or at 3 per cent per
annum on $40,000 per mile. See V. 39, p. 208; V. 40, p. 50.
The land grant claimed under the old Atlantic & Pacific charter of July,
1866, is 25,600 acres per mile in Territories and 12,800 acres in States.
On the Western Division the company has. earned under its grant 20,295,296 acres of land, 5,324,181 of which were sold to June 30.1890,
leaving 14,971,114 acres undisposed of. Receipts in 1889-90 (including
stumpage), $3,330,260; payments, $2,841,261; surplus, $488,998. A
map of the land grant was published in the Ch ro nicle , V. 36, p. 468.
In year ending June 30, 1890, gross earnings were $2,816,401; net,
$393,998; deficit under charges, $1,307,360. In calendar year 1888,
gross, $2,980,084; deficit under operating expenses, $70,465.—(V 48,
p. 37, 763 ; V. 50, p. 770; V. 51, p. 837.)
A tc h iso n S y s te m .—Colorado M id la n d .—(See Map.)—Owns
from Colorado Springs to New Castle, Col., 234 miles; Aspen branch, 18
miles; Jerome Park branch, 15 miles; leases New Castle to Rifle Creek,
1 4 miles; Rio Grande Junction RR., Rifle Creek, Col., to Grand Junction,
o n th e Rio Grande Western, 62 miles; other, 6 miles ; total, 349 miles.
In 1890 leased jointly with Denver & Rio Grande the Rio Grande
Junction RR., 64 miles (which see), over which in November, 1890, was
opened a through standard gauge line between Colorado Springs and
Ogden. See V. 51, p. 680. In August, 1890, leased the Busk Tunnel
$1,071,000
6 g.
1,131,000
6 g.
20,110,000 5 & 6 g.
1,099,000
5 g.
(?)
4 %
290,000
7 g.
142,000
6 I2,000,000
6 g744,000
6 g.
890,000
6 g.
810,000
5 g.
1,608,000
4 g430,000
6_g.
1,700,000
3
500,000
7
4.250,000
7
750,000
6
840,000
6 g1,232,200
6
2,200,000
5 g.
4,792,000
6 g5,484,000
3
1,032,200
312
360,000
6
5,000,000
5 g.
1,600,000
5 g244,800
5
850,000 4—5
5 g.
(?)
F. & A. N. V.BaringMagoun&Co
F. & A.
do
do
.1 <\ J
do
do
A. & O.
do
do
A. & O.
do
do
J. & D.
do
do
A. & O.
do
do
M. & S.
do
do
J. & J.
do
do
M. & s.
do
do
J. & D.
do
do
J. & D.
do
do
A. & O.
do
do
M. & S. N. Y. Cent.Tr. Co.. 54Wall
A. & o.
do
do
J. & J.
do
do
A. & o.
do
do
M. & N. N.Y. A. Dutehhofer.
J. A J.
Atlanta, Ga.
M. & N. Phila., 227 South 4th St.
A. & O. Oct., ’90, coup.last paid.
M. A s. London and Portland.
J. & D. Savannah, Co.’s Office.
J. & J. Phila., F.Ins.Tr.&S.Dep.
M. As N. N.Y.,Brown Bros.&Balt
J. & J.
In default.
Various
Baltimore.
J. & J.
do
Aug. 1, 1919
Aug. 1, 1920
July 1, 1931
Oct. 1, 1987
Oct. 1, 1990
June 1, 1895
A.&O.öp.c.ea.
Sept. 1, 1919
Jan. 1, 1916
Sept. 1, 1916
Deo. 1, 1936
June 1, 1937
Apr. 1, 1910
March 6,1891
April 1, 1897
Jan. 1, 1907
April 1, 1900
Nov. 1, 1939
July, 1891
May 1, 1919
Oct. 1, 1917
March, 1891
June, 1891
Jan. 1, 1902
Nov. 1, 1990
July, 1920
1932
Jan. 1, 1919
1941
Ranway and guaranteed the principal and interest of its bonds. These
bonds are redeemable before maturity at 105. See Y. 51, p. 142, 248.
In OctoDer, 1890, the Atchison Topeka & Santa Fe purchased the en
tire capital stock of the Colorado Midland. See V. 51, p. 608.
Stock, $8,000,000; par, $100. Abstract of first mortgage in V. 45, p.
540, and application to Stock Exchange in full in V. 48, p. 69. Central
Trust Company of New York is trustee of both mortgages. Abstract
of consolidated mortgage of 1889 was in V. 51, p. 572. The consols
are guaranteed by endorsement as to both principal and interest by
Atchison. Both issues of equipment bonds are redeemable by sinking
funds at 105, and are to be paid at maturity at same rate.
From July 1,1890, to May 31,1891 (11 months) gross earnings were
$1,801,893, against $1,552,482 in 1889-90; net, $549,077, against
$493,766. Mileage, 319 miles, against 283 in 1889-90. Report for
1889-90 in Ch ronicle , V. 50, p. 382. In 1889-90 gross, $1,724,791; net,
$558,943; surplus over charges, $2,943.—(V. 50, p. 1 7 3 ; V. 51, p. 142,
240,241,344, 3 8 2 , 383; V. 51, p.457, 493,572, 608,680; V. 52, p. 238.)
A tch iso n System .—St. L ou ts & San F ran cisco.—(See M ap.)
Owns St. Louis. Mo., to Seneca, 326 m iles; Pierce City to Wichita,
Kan., 217 miles ; Monett, Mo., to Paris, Tex., 303 miles ; branches, 202
miles; total owned June 30,1890,1,048 miles. Leases 286 miles, and
half owns the Atlantic & Pacific Central Division, 112 miles; Western.
Division, 806 miles; Wichita & Western, 124 miles; total (counting onehalf of mileage half owned), 1,855 miles.
Organ ization , &c.—This company was organized September 20,
1876, as successor to the Atlantic & Pacific in Missouri. In May, 1890,
the Atchison Topeka & Santa Fe Railroad Company acquired most of
the common and preferred stock and assumed control of the road. See
Chronicle , V. 50, p. 734, 771.
Stocks and B onds .—The common stock is $11,859,300; preferred
(7 per cent non-cumulative), $10,000,000; 1st preferred (7 per cent
non-cumulative), $4,500,000—par, all, $100. In August, 1890, it was
announced that the common stock not held by the Atchison was
$532,400 and the preferred $890,900. See V. 51, p. 241. In June, 1891,
it was voted to increase the capital stock from $40,000,000 to $50,000.000.
The_terms of the 1st pref. stock are as follows: “ This stock is entitled
to a dividend of 7 per cent per annum * * * and by resolution of the
company has priority of lien on net revenues for such dividend over any
mortgage bond that may be issued by the company subsequent to the
creation of this stock.”
In 1891 new 4 per cent bonds were offered to the holders o f the first
pref. stock, stockholders upon surrender of their certificates to receive
par in the new bonds and interest in cash at 4 per cent continuously
from January 1, 1890. V. 52, p. 547, 570. Certain of the first pre
ferred stockholders opposed this plan. See V. 52, p. 681, 718,796, 899;
V. 53, p. 21. See below.
Dividends on first preferred stock—From 1881 to 1889, inclusive, 7
per cent per annum; in 1890, February 10,2 per cent; since, nil.
Dividends on preferred—In 1887, 2 ^ per cent; in 1888, 5; in 1889, 3;
in 1890, passed January, April and July dividends.—(See V. 50, p. 72.)
In April, 1891, the company decided to issue a new consolidated
mortgage for $50,000,000 of 4 per cent gold bonds, covering all its prop
erty, equipment and lands, subject only to $36,077,500 direct mort
gage bonds of the company on its own and leased lines. The prior
bonds will be gradually retired by the operation of their respective
sinking funds and maturities, and be, replaced by the new bonds. This
will leave $13,932,500 new consolidated bonds available for the follow
ing purposes: (1) For retirement of $2,800,000 Atlantio & Pacific RR.
Company’s 2d mortgage 6s, guaranteed both principal and interest by
the St. Louis & San Francisco RR. Company. (2) To provide for com
pleting the road andjplacing the property in sound financial and phys
ical condition. (3) To retire at par, as stated above, $4,500,000 of 1st
preferred stock.—(See V. 52, p. 570.
The Fort Smith & Van Buren Bridge bonds are guaranteed. They have
a sinking fund of 5 per cent yearly to draw them at 105; they are all re
deemable at 110 at company’s option. The land department assets
were estimated June 30,1890, at $511,226, including 122,701 acres of
land, valued at $319,024, town lots, land contracts and cash.
Operations , finances , & c.—From July 1, 1890, to May 31, 1891
(11 months), gross earnings on 1,865 miles were $7,723,507, against $7,275,937 on 1,855 miles in 1889-90; net, $2,695,207, against $2,950,534.
Fiscal year ends June 30. Report for 1889-90 in V. 51, p. 828, 841.
The figures below for 1886 and 1887 are for the calendar year:
INCOME ACCOUNT.
1886.
1887.
1888-89.
1889-90.
Gross earnings.............. $4,874',628 $6,229,344 $5,807,176 $6,394,069
Net earnings........... ...$2,652,332 $3,247,477 $2,460,019 $2,914,688
Other receipts..............
159,619
190,332
100,933
Total net income.. $2,811,951 $3,437,809
Deduct—
Int.. sink, fund, & c.... $1,956,297 $2,219,901
Dividends....................
3i5,000
565,000
.......... $3,015,621
.......... . $2,5721006
.........
190,000
Balance, surplus........ $540,654
$652,908
...........
$253,615
- ( V . 50, p. 72, 7 0 1 , 703, 7 0 4 , 734, 771, 833, 905; V. 51, p. 85, 207«
241, 345, 748, 786, 8 2 8 , 8 4 1 ; V. 52, p. |204, 351, 499, 547, 570, 643,
681, 718,796, 862, 863, 899.)
INYESTOKS’
SUPPLEMENT.
[Y ou Lilt.
July,
1391.]
BAILROAD
STOCKS
AN D
BONDS.
INVESTORS’
SUPPLEMENT.
[Voi* Lin,
July, 1891.]
RAILROAD
STOCKS AND
BONDS
14
INYESTOKS’
SUPPLEMENT.
[V o l .
LIU
Subscribers w i ll con fer a great favor by g iv in g Im m ediate notice o f any error discovered in these T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
When Due.
Miles Date Size, or
Amount Rate per When Where Payable and by pal,
Par
Stocks—Last
of
of
Outstanding
Whom.
Dividend.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Baltimore <£ Ohio—Stock (see remarks).
Loan due in 1880, extended,payable at will
Loan, 1853, extended in 1885, gold............
Loan, 1870. sink, fund £16,000 yearly, not drawn
Mortgage 1872, sink, fund ¿12,000 semi-annually
Mortgage 1874, sink, fund £9,000 semi-annually.
Bond to City Baltimore (payable$40,000 yearly).
Consolidated mortgage (for $29,600,000) gold.c*
Loan, 1877 (s. f. dr’n at 100) (B.& 0.&Ch.bds.colT)o
N. W. Virginia RR. 1st M. (ext. in 1888) assum.c)
B. & O. loan 1879 (Parkersb’g Br. bonds collat.) >
Mort. on Phila.Br., with Balt. & Phila. bds.ascol..
Pittsburg & Connellsville 1st mortgage................
Consol. mort.,guar.B. & 0.(s. f. £7,200 per yr.).
B. & O. loan, 1885,g. (Pitts. & Conn. bds. as col.)..
Car trustloan, gold ($250,000pd.yearly Jan.l).c
Equipment trust ($100,000 paid yearly April 1)
Equip, trust, Ser.B.,$200,000 due y’rly Nov. l.c*
* f Schuyl. R. East Side RR. 1st M., g. (guar.)
«5* |Monongahela River RR., 1st M., gu., g. .c*
( Balt. & N. Y. RR., 1st M., guaranteed, .c&r
i '3 Akron & Chic. J. 1st mort, gold, int. gu.c
l Balt.Belt.lstM .for$6,00p,000,g.,int.gu.c*
Baltimore <&Ohio Southwestern—Cin. & Balt. 1st M.
1st mortgage (guaranteed by Balt. & O.) gold..c'
1st pref. income mortgage, not cumulative, g- -C
2d pref. income mortgage, not cumulative, g ..c
3d pref. income mortgage, not cumulative, g. .c*
Balt. <£Potomac—IstM. (tun.) g., s. f.1 p. c. ,not drn.c"
1 st M., road,guar., gold, s. f. 1 p. c., not drawn.. c
Consolidated mortgage for $10,000,000, gold..c*
379
379
379
421
421
379
511
263
104 1
108
149
149
150
10
32
5
73
8
5
281
281
281
281
1*2
90
92
$100 $14,792,566
100
5,000,000
579,500
1853 500 &c.
1,709,500
1853 500 &c.
£200
1870
3,454,792
£100
9,301,512
1872
£200
9,634,504
1874
1875
360,000
1,000 12,747,000
1887
£200
1877
7,145,776
1855 $1,000
140,000
1,000
1879
3,000,000
£200 11,616,000
1883
4,000,000
1868 $1,000
£200
1876
6,567,880
1885 $1,000 10,000,000
1,000
1,500,000
1887
1,000
800,000
1889
1,000
1890
2,000,000
1,000
1886
4,500,000
1,000
1889
700,000
1,000
1889
350,000
1,000
1890
1,500,000
1,000
1890
5,000,000
1,000
1869
333,000
1,000 10,667,000
1889
1,000
1889
5,500,000
1,000
1889
6,400,000
1,000
7,700,000
1889
1,000
1,500,000
1871
1,000
3,000,000
1871
1.000
3,000,000
1889
A tla n ta Sc Charlotte A ir L in e .—Owns from Charlotte, N. C., to
Atlanta, Ga., 269 miles. The Richmond & Atlanta Air-Line was sold
under foreclosure December 5,1876, and the existing corporation was
formed February 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 cen t; 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 6, 3
per cent. See V. 51, p. 20. In 1890 gross earnings were $1,687,335,
against $1,516,416 in 1889.—(V. 51, p. 20.)
4
3
4
4
6
6
6
6
5
5
6
6
4*2
7
6
5
41a
5
5
5
5
5
5
5
7
4*2
5
5
5
6
6
5
g.
g.
g■
g.
g.
g.
g.
g.
gg.
g.
gg•
gg.
g.
g.
g.
gg.
g.
g.
M. & N. Balt. Office, Cent. Bldg.
J. & J.
do
do
J. & J.
do
do
A. & O.
do
do
M. & S. Lond’n,Baring Bros&Co
M. & S.
do
do
M. & N. London, J.S.Morgan&Co
Baltimore, Office.
J. & J.
F. & A. N. Y., Union Trust Co.
J. & D. London, J.S.Morgan&Co
J. & J. Baltimore, B. & O. RR.
A. & O. N.Y., D. M. & Co. & Balt.
A. & O. London, Brown, S. & Co.
J. & J. Baltimore, B. & O. RR.
J. & J. Lond’n, J.S.Morgan&Co.
F. & A. N. Y., Union Trust Co.
J. & J. Balt’me, Merc. Trust Co.
A. & 0. Phila., Fin’ce Co. of Pa.
M. & N.
do
do
J. & D. Phila., Solicitors’ Co.
New York.
F. & A.
M. & N.
do
M. & N. N. Y., Merc. Trust Co.
M. & N. N.Y.,BrownBros.&Balt
J. & J. N. Y., Farmers’ L. & Tr.
do
do
J. & J;
Oct. 1 In 1891 paid 4 per cent.
N. Y.—When earned.
N o v .l
do
do
Dec. 1
J. & J. Balt. Office and London.
A. & O. Balt. Office, Calvert St.
do
do
J. & J.
May 1, 1887
July 1, 1891
At will.
Oct. 1, 1935
Mch. 1, 1895
Mch. 1, 1902
May, 1910
July, ’92-1900
Feb. 1, 1988
June 1, 1927
Mch. 1, 1902
April 1, 1919
April 1, 1933
July, 1898
Jan. 1, 1926
Feb. 1, 1925
10 p. c. yearly.
1892 to 1899
N v .l,’ 91-1900
Dec. 1, 1935
Feb. 1, 1919
May 1, 1939
Nov. 1, 1930
Nov. 1, 1990
Jan. 1, 1900
Jan. 1, 1990
Jan. 1, 1990
Jan. 1, 1990
Jan. 1, 1990
July 1, 1911
April 1, 1911
July 1, 1929
Leased for 999 years to the Balt. & O. RR. Co., which controls its entire
common stock and guarantees by endorsement the unconditional pay
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 Ch ronicle , V. 52, p.
205. (V. 51, p. 405, 718, 829; V. 52, p. 203, 205.)
B altim ore Sc L eh ig h .—Owns from Baltimore, Md., to York, Pa.,
79 miles, and branch to Peach Bottom, 5 miles ; total, narrow gauge,
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. See
V. 53, p. 58. It is proposed to change the gauge and to complete the
Deer 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 $6,000,000; par,
$100. In 1890 gross earnings were $231,154; net, $54,280, against
$54,320 in 1889; surplus over charges in 1889, $21,617. President,
William Gilmore. (V. 53, p. 58.)
A tla n ta Sc F lo r id a .—Owns from Atlanta southerly to Fort Valley,
Ga., on Central Georgia Railroad, 105 m iles; extension to tidewater pro
jected. 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
B a ltim o re Sc O hio .— (See M ap).— Operates Philadelphia to Chicago
$49,243 in 1890. In 1890 gross earnings were $128,842; net, $7,550.
960 miles, and has, via the Baltimore & Ohio Southwestern, a direct route
In 1889 gross, $100,022; net, $17,342.
to Cincinnati, 593 miles, the total mileage leased, owned and operated
A tla n ta Sc W e st P o in t.—Owns from Atlanta, Ga., to West Point, (excluding the Baltimore & Ohio Southwestern) being 1,950 miles, of
Ga., 86*2 miles. In April, 1881, a controlling interest in this company which 645 miles are west and 1,305 miles east of the Ohio River.
was acquired by the Central Georgia through purchase of $188,500 stock
Organ ization , L eases , &c.—The corporation was chartered in Mary
and the lease of the Georgia Railroad, under which lease $440,900 stock land February 28,1827, and in Virginia March 8,1827. First section
and the same amount of debt certificates are held. Any mortgage opened May 24,1830. The Baltimore & Ohio Telegraph Company’s stock
issued must be subordinate in lien to the dividend certificates. 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
$1,232.200; par, $100.
Dividends paid in 1889, 6 per cent; in 1890, 6. In year ending June of $60,000 per year for fifty years.
30,1889, gross earnings were $424,517; net, $139,044; in 1889-’90,
In 1890 a syndicate purchased $2,955,000 common stock (including
«ross, $473,441; net, $168,363; interest naid, $73,932; dividends paid that held by the City o f Baltimore), and this stock, together with that
held by the Garrett interest ($8,975,000 in all) has been deposited in
<6 per cent), $73,932. In 1889-91 gross, $483,353.
trust with the Farmers’ Loan & Trust Co., and will be voted on for
A tla n tic C ity.—Camden to AtlantioCity, 54 miles; with branches,&c* three years from June 23,1890, by Mr. C. F. Mayer, President of the
of 49 miles. Consolidation in 1889 of the Philadelphia & Atlantic City Baltimore & Ohio, and his two nominees. It was reported that Rich
RR. and other lines. Stock authorized and issued, $1,200,000 common mond & West Point Terminal Company parties would own $1,200,000
and $1,000,000 preferred. Controlled by Philadelphia & Reading RR. of the stock held in trust. (See V. 50, p. 874; V. 52, p. 462.) The
Trustee of mortgage, Guarantee Trust & Safe Deposit Co. of Philadelphia. State of Maryland sold its preferred stock and now appoints but two
In year ending November 30,1890, gross earnings were $734,592; net directors, which represent its Washington Branch stock.
For contract with Akron & Chicago Junction and Baltimore Belt
over operating expenses and taxes, $64,211. (V. 52, p. 824.)
roads see V. 51, p. 344. In February, 1891, $6,050,000 common stock
A tla n tic Sc D a n v ille .—Completed February, 1890, Portsmouth, of the Pittsburg & Western RR. Co. was bought with Baltimore & Ohio
near Norfolk, to Danville, Va., with branches, 245 miles, and Claremont stock to the reported amount of about $2,400,000. The P. &W. will
to Belfleld (3 feet gauge) 54 miles; total, 299 miles. From Danville form a link in the new through route to Chicago. See V. 52, p. 238.
Stocks and B onds . — The $8,975,000 common stock deposited in
the Danville & East Tennessee was projected by parties in same interest
to Bristol, on East Tennessee Virginia & Georgia RR. In January, trust as above stated is the “ trust stock” dealt in on the Baltimore
1891, Messrs. Alfred P. Thom and C. H. Cromwell were appointed re Exchange. Preferred stock carries 6 per cent dividends only.
Dividends on common stock—In 1877,8 per cen t; in 1878,8 in stock ;
ceivers. See. V. 52, p. 80. In March, 1891, $250,000 receiver’s cer
tificates were authorized. Trustee of mortgage, Mercantile Trust Co. in 1879, 4 stock and 4 cash; in 1880, 9 ; in 1881 to 1885, inclusive, 10;
Stock authorized, $20,000 per mile; outstanding, $4,311,390; par, $100. in 1886, 8; in 1887, 4 ; none since.
. •, „„„2 .
Price of common stock in Baltimore—In 1 881,183®210; in 1882,
From January 1 to July 31,1890 (7 months) gross earnings were
$281,458, against $195,314 in 1889; net, $91,860, against $87,981. 190®202; in 1883,192*2@205 ; in 1884,167S199 ; in 1885,166*2®
Gross earnings in 1888, $204,064; net, $96,847. In 1889, gross, $383,- 185; in 1886,150®191; in 1887,104® 180; in 1888, 80®106V , in
1889, 81®101!2; in 1890 92*2®10712; in 1891 to July 17 inclusive,
3 56; net, $173,431. (V. 50, p. 70, 243; V. 52, p. 80, 462.)
A tla n tic Sc St. L a w ren ce.—Owns from Portland, Me., to Island 85'@93*s*
Of the bonds given in the table as outstanding the sinking funds held
Pond, Vt. (and branch), 151 miles, there connecting with Grand Trunk Sept. 30,1890, consols of 1887 to the amount of $2,647,000 (interest on
o f Canada, to which leased for 999 years, August 5, 1853, at a rental which is paid in consols themselves) and other first-class interest-bear
equal to bond interest and 6 per cent on stock. The funded debt con ing bonds to a total of $5,452,908, also $1,519,760 canceled bonds,
sists of 2d and 3d mortgage bonds, $2,213,000, which the Grand Trunk which (contrary to company’s custom) are deducted in table above from
holds and has pledged for its debenture stock. The stock of $5,484,000 amount outstanding.
__ . . _
_ .
is mostly £, with dividends payable in London.
The consolidated mort. of 1887 (trustee, Mercantile Trust & Dep. Co.)
In 1888-89 gross earnings were $1,063,967; net, $244,375; deficit covers the main line, Baltimore to Wheeling, and branches, 444 miles,
under interest, &e., $236,226.
the two Ohio River bridges, stock of the Washington branch for $1,028,A u g u sta Sc S a va n n ah .—Owns from Millen to Augusta, Ga., 53 000 and the entire issue of first mort. bonds ($5,000,000) on the road
between
Pittsburg and Wheeling. The balance of consols unissued is re
miles. Leased in perpetuity to Central of Georgia for $73,000 per
served to retire the prior bonds not held by the sinking funds. Abstract
annum. Has no bonded debt.
of mortgage was in V. 46, p. 804. Theloan of 1877 is secured by deposit
B a ld E a g le V a lle y .—Owns from Vail Station, Pa., to Lockhaven, of the entire stock and bonds of the Chicago Division. The loan of
Pa., 51 m iles; branch to Bellefonte, Pa., 3 m iles; Nittany branch, 10 1879 is secured by deposit of mortgage for $3,000,000 on the Parkers
m iles; Snowshoe to Sugar Camp, 25 miles; total operated, 89 miles. burg branch, this mortgage being subject only to $140,000 North West
Leased to Pennsylvania RR. Co. for 99 years from December 7,1864. ern Virginia bonds assumed by Baltimore & Ohio. The loan of 1883 is
Rental, 40 per cent of gross earnings. Rental, etc., in 1890, $265,007, secured by first mortgage on the Philadelphia Branch and pledge of all
against $208,418 in 1889; surplus over fixed charges, $226,816, out of first mortgage bonds of the Baltimore & Philadelphia RR. (Maryland
which paid dividends (10 .per cent) $140,623. Stock is $1,406,250 State line to Philadelphia), amounting to £1,000,000. The loan of
<par $50), of which Pennsylvania RR. owns $706,250. Dividends 1885 is secured by $10,000,000 2d consolidated bonds o f Pittsburg &
Connellsville RR., deposited with Union Trust Co., of N. Y., as trustee.
are paid February and August at Treasurer’s office. (V. 49, p. 82.)
See Pittsburg & Connellsville.
_ ,
___
^
.
B a ltim o r e Sc E astern Shore.—Owns Claiborne to Ocean City,
The bonds of the Schuylkill River East Side RR. are guaranteed by
Md., 87 miles. Completed early in 1891, and in April, 1891, Capt. Wil Baltimore & Ohio (the Pennsylvania Company for insurance on Lives,
lard Thomson was appointed receiver. See V. 51, p. 718. Stock &c being mortgage trustee). So too are the Monongahela River 5s,
authorized $1,000,000; par $50.—(V. 51, p. 20; V. 52, p. 641.)
which cover road from Clarksburg to Fairmount, W. Va., and the Balti
B a ltim o re B e lt.—(Bee Map.)—Owns road under construction in more & New York 5s, covering 5 miles of road from west end of the
the city of Baltimore, forming by tunnel and open-cut a connecting Arthur Kill bridge of the Staten Island Rapid Transit RR. to a junction
link between the main line of the Baltimore & Ohio and the Philadel with the Central of New Jersey RR. near Roselle, N. J.
The Akron & Chicago Junction 5 per cent bonds cov errad c o mplete
phia branch. Its total length with branches will be about 7 miles.
BONDS
AN D
STOCKS
KAILKOAD
1891.1
jt L Y ,
1NYESTORS’
SUPPLEMENT.
[Vort o il.
RAILROAD
J u l y , 1891.J
STOCKS
AND
BONDS,
17
Subscribers w i l l con fer a great fa v or by g iv in g Im m ediate notice o f a n y error discovered In .these T a bles.
INTEREST OR DIVIDENDS.
RAILROADS.
— Miles Date Size, or
Amount Rate per When Where Payable, and by
of
Par
For explanation o f column headings, &c., see notes
of
Outstanding Cent. Payable
Whom.
on first page of tables.
|Road. Bonds Value.
$50 $5,000,000 4 per an. Q .-J . N.Y., Gr’nd Cent. Depot
Beech Greek—Stock (guaranteed 4 per cent). .......... 131
do
do
1,000
5,000,000
4 g. J. & J.
1st mortgage, gold, guar, toy N. Y. Central— c&r 131 1886
18Q1
Extension mortgage for $350,000.... — •- - - - - - N.
Y.,
Farmers’
L. & Tr.
J.
&
J.
250,000
4
Ï0
2
1889
Bellaire Zanesville <£Cin.—Prior lien mort.,red at 105
J. & J.
4
738,000
1st mortgage for $1,000,000.................................. 102 1890
Philadelphia,
Pa.
RR.
J.
&
D.
1,000,000
6
1,000
64 1867
Belvidere Del.—1st M., ext’din ’77, conv., guar...... c
J. & J. Treasurer, Trenton, N. J.
722,000
7
1,000
67 1876
Cons. mort. of 1876, sinking fund, not drawn.. . .c
Philadelphia,
Pa.
RR.
4
Various
1,250,000
67 1885-7 1,000
Cons. M. of ’76, guar, by Un. Co’s & Pa. RR.,s. f . .r
M. & N. N. Y., Union Trust Co.
475,000
7
1,000
59 1877
Bennington eg Rutlandr-lst mortgage........ a . . . . . .
Stockbridge,
Treasurer.
600,000
100
1%
Q.—J.
22
Berkshire—Stock (7 p. c. perpet. rental Housatonic)
6 g. J. & J. New York and London.
51 1887 500 &c.
Billings G.F.di G’ke G —Gen.lstM.s.f.red.at 110,g.e*
A. & O.
2,600,000
5
1889
Birmingham Sheffield & Tenn. River—1st mortgage
Boston, Office.
2
Q.—M.
100 20,000,000
Boston <gAlbany—Stock ($30,000,000 authorized)..
do
F. & A.
5,000,000
7
1,000
1872
Plain bonds, not mortgage................ .................c&r
do
J.
&
J.
2,000,000
6
1,000
1875
Bonds of 1875 not mortgage..............................c&r
do
A. & O.
3,858,000
5
100
1882
Bonds (not mort.) issued to State for its stock.. .r
Boston, at Office.
5,529,400
3kî J. & J.
100
Boston eg Lowell—Stock.
do
do
1,499,500
7
Various
1872
Bonds,not mortgage..
do
do
J. & J.
750,000
6
1876
Boston & Maine gives
Bonds
do
do
do
J. & J.
5
620,000
1879
a rental guarantee
Bonds
do *
do
do
250,000
4*2 M. & N.
1883
for 99 years.
Bonds
do
do
do
Various
3,675,000
4
1885-9
Bonds
do
do
do
A.
&
0.
200,000
6
Lowell & Law. bonds..
do
do
A. & O.
226,900
6
Salem & Lowell bonds.
Nashua,
Co.’
s
Office.
F.
&
A.
200,000
6
1873
Nash. & Low plain b’ds
do
do
J.
&
J.
100,000
5
g.
1880
Do
do
Boston, at Office.
413 M. & N.
100 16,297,744
Boston eg Maine—Stock............................................
do
do
M.
&
S.
3,149,843
3
100
Preferred stock, 6 per cent, not cumulative—
do
do
J. & J.
7
1873-4 500 &c. 3,500,000
Plain bonds, not mortgage................................ c&r
do
do
F.
&
A.
4
1,500,000
1,000
1885-7
Imp’ntbonds ($1,000,000 due Feb., 1905) s. f.
do
do
F. & A.
4
1,909,000
1,000
1887
Do
do
.......................................................
do
do
M.
&
S.
194,400
100
&c.
4*2
1851
20
Essex RR. 1st mort. (exten. for 5 years in 1886)..c
in July, 1891, from Akron to Chicago Junction, 73 miles. They are guar
anteed as to interest, as also the Baltimore Belt bonds on line building
through the City of Baltimore. See V. 51. p. 344, 405, 829. _
The other bonds guaranteed are $11,000,000 Baltimore & Ohio South
Western first mortgage 4 ^ per cents; $2,500,000 Staten Island Rapid
Transit second mortgage 5 s ; $147,250 Winchester & Potomac first
mortgage 6 s : also $4,000,000 5s (guaranteed as to interest) of the
West Virginia & Pittsburg RR., which see; and $2,240,000 bonds of
the Columbus & Cincinnati Midland.
Oper ation s , F inances , &c.—After having paid dividends for many
years the company passed the November, 1887, and subsequent divi
dends on common stock.
,
From October 1,1890, to June 30, 1891, (9 months), gross earnings
of all lines were $17,588,159, against $17,865,473 in 1889-90; net,
$5,051,615, against $5,178.793.
_
"
Fiscal year ends September 30. Annual report for 1889-90 was in
Ch ronicle V. 51, p. 7 1 2 , 7 1 6 ; see also p. 694.
INCOME ACCOUNT.
1889-90.
1888-89.
1887-88.
$
$
$
24,412,096
21,303,001
Gross earnings.................... .........1 . 20,353,491
Operating expenses......................... 14,200,561 14,810,844 16,966,870
6,152,930
1,206,960
6,492,158
1,265,861
7,445,226
1,509,837
Total net income....................... 7,359,891
Deduct—
304,419
Net earnings Washington Branch.
Fixed charges.................................. 6,246,553
300,000
Dirs. on 1st & 2dpref. st’k (6 p. c.)
7,758,018
8,955,063
357,651
6,208,562
300,000
376,172
6,417,599
300,000
Net earnings.....................................
Add income from other sources...
pal,When Due.
Stocks—Last
Dividend.
July 1, 1891
July 1, 1936
July 1, 1899
Jan. 1, 1940
June 1, 1902
Jan. 1, 1916
Sept., 1925-27
No'v. 1, 1897
Apr. 1, 1891
Jan. 1, 1927
Oct. 1, 1929
June 30,1891
Feb. 1, 1892
July 1, 1895
Apr. 1, 1902
Jan. 2, l891
Apr.,1892&’95
July 1, 1896
July 1, 1899
May 1, 1903
1905-6-7-9
Oct. 1, 1897
Oct. 1, 1898
Aug. 1, 1893
July 1, 1900
May 15, 1891
Mch. 1, 1891
Jan.,1893&’94
Feb.,1905&’07
„ Feb. 1, 1937
Sept. 15,1891
B altim ore & P o to m a c .—Owns from Baltimore, Md., to South End
Long Bridge, 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 mortgage bonds guaranteed by Pennsylvania and Northern Cen
tral. Stock, $4,914,250 (par $50), of which Pennsylvania RR. owns $4,081,100 and Northern Central $622,850. Consols for $3,000,000 are held
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 May 31, 1891 (5 months), gross earnings were
$694,427, against $685,645 in 1890; net, $185,313, against $153,895.
B e e c h C reels.—Jersey Shore, Pa., to Gazzam, 104 miles; branches
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, 2 k; in January, 1890, 5 per cent; in 1891 stock was all made
common, and on this dividends of 4 per cent are guaranteed. See Y.
p. 52, 570. There are $150,000 of 5 per cent car trust certificates o f
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 w ill 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, 238, 321, 498, 570.)
B ellaire Zan esville & C in cin n a ti.—Owns Bellaire, O., to B. &
7,093,771
1,861,292 O. Junction, 102 miles; trackage B. & O., 1 mile; leases Muskingum
481,058 County RR. to Zanesville, 9 miles; total operated, 112 miles. Placed in
receiver’s hands in July, 1886, and reorganized in 1889. Stock is: Com
1,380,234 mon $832,000; preferred $795,910; par $50. In year ending June 30,
519,318
124,431
Leaving a balance o f................
1889, gross earnings were $101,613; net (over taxes), $23,062.
^-Earnings, 1888-89.—, ✓—Earnings, 1889-90.—,
Gross.
Net.
Belvidere D ela w a re .—Owns from Trenton, N. J., to Manunka
Gross.
Net.
Chunk, N. J., 67 miles; FlemingtonRR.,&c., 14 miles; operated cut-off, 1
$
$
$
Main Stem, &e............... 10,452,472 3,801,107 11,950,505 4,143,708 mile; total operated, 82 miles. Leased to United Companies, and trans
376,172 ferred to Penn. RR. March 7,1876. Net earnings paid as rental Penn.
502,594
457,709
357,651
Washington Branch......
157,780 RR., Dec. 31,1890, owned all of the 7 per cents. The first mortgage
773,191
163,784
707,562
Parkersburg Branch—
1,408,214
309,809 (convertible into stock) and new 4 per cent bonds are guaranteed by the
280,138
Central Ohio Division... 1,255,751
271,397 United Companies. In 1890, net, $369,437; surplus over fixed charges,
1,211,170
283,178
Lake Erie Division........ 1,177,519
2,603,445
385,258 $105,253. Dividends of 6 per cent are paid. Stock, $1,150,000 (par
376,216
Chicago Division........... 2,227,531
909,594 3,069,055 1,123,626 $50), all held by Penn. RR. Co.
Pittsburg Division........ 2,731,174
755,790
125,287
645,630 def. 49,138
Wheeling & Pitts. D iv..
450,234
1,696,841
332,471
B en n in g to n & B u tla n d .—Owns from Rutland to Bennington,
Philadelphia Division... 1,361,501
16,124 Vt., 57 m iles; branch, North Bennington to New York State Line, 2
178,584
37,156
226,150
New’k Somerset & St’le.
85,831 miles; total, 59 miles. Stock, $1,000,000 (par $50). Gross earnings in
262,708
Col. & Cincin. Midland.
1889 were $216,625; net, $50,084; surplus over interest, $16,834.
T ota l........................ 21,303,002 6,492,158 24,412,096 7,445,226 In 1889 gross $241,684; net, $58,585.
—(V. 50, p. 70,139, 351, 482, 559, 734, 800, 833, 874, 903; V. 51, p.
B erk sh ire.—Owns from Connecticut State Line to West Stock171, 239, 344, 405, 483, 537, 6 9 4 , 7 1 2 , 714, 7 1 6 ; V. 52, p. 238, 462, bridge, Mass., 22 miles. Leased in perpetuity to Housatonic Railroad
796, 831; V. 53, p. 58.)
Company at 7 per cent on capital stock, $600,000. Lessors pay taxes,
B altim o re & Ohio Southw estern—(See Map o f Baltimore & Ohio). &c., and hence the quarterly dividend due in October is usually omitted.
—Cincinnati, O., to Belpre, O., 193 miles; branches—Marietta to Belpre,
B irm in g h a m Sheffield & Tennessee B lv e r . — Sheffield to
11 m iles; Portsmouth to Hamden, 55 miles; Blanchester to Hillsboro, Jasper, Ala., and branches, 92 miles; to be extended 15 miles to a con
22 miles; total, 281 miles.
nection with Georgia Pacific. Stock is $2,800,000. In September, 1887,
The Cincinnati Washington Baltimore was sold in foreclosure Sept. Sheffield & Birmingham RR. was consolidated with the Alabama & Ten
19,1889, and reorganized under present title by plan in V. 49, p. 82.
nessee Coal & Iron Co. In January, 1889. receiver appointed, and in
The new first mortgage bonds carry the endorsed guarantee of Balti April, 1889, the railroad property was sold to the_ Birmingham Sheffield
more & Ohio as to both principal and interest. The Farmers’ Loan & & Tennessee River, and the Coal & Iron properties reorganized separ
Trust Company is mortgage trustee. See abstracts of the first mortgage ately. From January 1 to May 31,1891, (5 months), gross earnings
and of the income mortgages in V. 51, p. 245, 246. Stock is—Common, were $74,353, against $81,368 in 1890; net, $24,896, against $27,329.
$2,500,000, all held by Baltimore & Ohio; preferred, $2,500,000; par, In year 1890 gross earnings were $192,605; net, $54,817. President
A. Parrish, Philadelphia, Pa. (V. 48, p. 128, 527.)
$ 100.
From July 1, 1890, to April 30, 1891 (10 months), gross earnings
B o s t o n & A lb a n y .—Owns from Boston, Mass., to Albany, N. Y .t
were $1,962,734, against $1,949,766 in 1889-90; net, $687,349, against
202 miles; numerous branches, 104 miles; leased lines, 83 miles; total
$683,804.
operated, 389 miles. The Boston & Albany was formed (December,
For the calendar years earnings have been as follow s:
1867) by the consolidation of the Boston & Worcester and the Western
1890.
1889.
railroads. In 1889 obtained permission from the Legislature to issue
$
$10,000,000
stock, $7,000,000 being for bonds due in 1892
2,329,445 and 1§95 andadditional
Gross earnings.........................................
2,177,957
the remainder for improvements. Stockholders of Sep
1,517,793 tember 24 , 1890,
Operating expenses........ ........
1,499,648
had the right until January 5,1891, of subscribing
$5,000,000 stock, payment for which is to be made as follows: $10 on
811,652 to
Net earnings......................................
678,309
5,1891, and $90 on January 5,1892, when the new certifi
54,000 January
Taxes and assessments................
53,788
cates will be issued. Due improvement fund January 1, 1891, $1,180,105.
.
,
• .
757,652
Balance............................................................ 624,521
Cash dividends at the rate of 8 per cent yearly have been paid for
many
years.
Stock
dividend
of
10
per
cent
was
paid
in
1883
and
of
313
After paying taxes and fixed charges there was applicable to the
payment of interest on the first preferred income bonds for the year per cent in 1886.
From
July
1,
1890,
to
March
31,
1891
(9
months),
gross
earnings
1890 4 per cent (being $20,060), and the same was declared, payable
on the 25th day of March, 1891.—(V. 49, p. 82, 235, 372, 580,856; were $6,865,443, against $6,854,052 in 1889-90; net, $2,282,817, against
$2,325,998; surplus over charges, $1,140,435, against $l,190,o53.
Y. 50, p. 138, 632; Y; 51, p. 245; Y. 52, p. 320.)
Total........................................... 6,850,972
508,919
Surplus..... ........................................
384,487
Deduct payments to retire bonds..
i
6,866,213
891,805
372,487
18
INYESTOBS’
SUPPLEMENT.
[You LIU.
Subscribers w i ll con fer a great fa v or by g iv in g Im m ediate notice o f any error discovered In these T a bles.
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount
For explanation of column headings, &c., see notes of
of
Par
Rate per When Where payable, and by
Outstanding
on first page of tables.
Road. Bonds Value.
Whom.
cent. Payable
Boston <&Maine—(Concluded.)—
Eastern RR. certs.of indebt.lst M.,g.,s.f.,not dm .c 119 1876 $ & £ Ì $9,209,520
6 g- M. & S. Bost.,Mav’ck B’k & Lon.
Portsmouth Great Falls & Conway 1st mort__ e
73 1877 500 &c.
1,000,000
4^2 J. & D. Bos. ,BlackstoneN at.Bk.
Boston <6N. Y. Air-Line—St’k,pref. (gu.N.Y.N.H.&H.)
54
100
2,998,000
2
A. & O. N. H., N. Y. N. H. & H. Co.
1st mortgage............................. .......................... c*
50 1880
1,000
500,000
5
F. & A. N.Y., Lincoln Nat. Bank
Boston eß Prov.—Stock, 10 p. c. guar. 99 yrs., Old Col.
68
100
4,000,000
Boston, at Office.
2^2
Q.—J.
Bonds to purchase branches,coupon or registered . . . . 1873
1,000
500,000
7
J. & J.
do
do
Funding bonds, not mortgage, sink, fund 1890..c*
Ï888
1,000
1,600,000
4
J.
&
J.
do
do
Boston Revere Beach & Lynn—Stock..........................
100
750,000
Boston.
3^2 J. & J.
1st mortgage........ ............. ..2___v......................c
1877
1,000
350,000
6
J.
&
J.
Boston,
Office.
Boston Winthrop & Shore 1st mortgage, guar .
8 1886
289,000
5
M. & S. Boston, by guarantors.
Bradford Bordell <6 Kinzua—1st mortgage........ ..c
41 1882
500
498,000
6
J. & D. Last coup, paid June,’ 84
Bradford Eldred <&Cuba—1st mortgage....................
4 1881
1,000
500,000
6
J.
& J. Last paid July, 1884.
Brooklyn Bath <6 West End—1st mort., series A . . .c
1887
1,000
250,000
5
J. & J. Phila., 122 So. 4th St.
1st mortgage; series B ........................ ........ ...........
6*2
1,000
232,000
5
A.
&
0.
do
do
Brooklyn <&Brighton Beach—1st mortgage............ o 7^2 1887
1,000
500,000
M. & 8. N. Y., Cent. Trust Co.
Brooklyn Elevated—lstm ort., g., s. f., not drawn, .c*
6*9 1884
1,000
3,500,000
A.
&
O.
N.
Y.,
Cent.
Trust
Co.
6
g2d mortgage, gold, sinking fund, not drawn___c*
b-9 1885
1,000
1,250,000
5 g. J. & J.
do
do
Union Elev., 1st M. ,$550,000 p. m., g..................c* 10'5 1887
1,000
5,750,000
M.
&
N.
do
do
•
6
g.
2dM.,inc.,non-cum., $185,000per mile, gold.c* 10*5 1887
1,000
2,068,000
5
J. & J.
do
do
Buff. Brad. <6Pitts.—Gen. M. (10,000acres land) ..r
26 1865
1,000
580,000
J.
&
J.
7
N.
Y.
L.
Erie
&
W.
RR.
Buff. N. Y. d Erie—Stock (7 p. c. rent. N.Y. L. E.&W.) 142
100
950,000
3^2 J. & D. N. Y. L. Erie & W. RR.
1st mortgage...........................................................c* 142 1876
1,000
2,380,000
J. & D.
7
do
do
Buffalo Rochester <&Pittsburg—
R. & P. 1st M., Rochester to Salamanca, 108 m.c* 108 1881
1,000
1,300,000
F. & A. N. Y., Union Trust Co.
6
gR. & P. consol, mortgage, $20,000 per mile, g. .c*
All 1882
1,000
3,920,000
do
do
6 g. J. & D.
1st general mortgage gold ($10,000,000) ...........c* All 1887
1,000
2,421,000
5 g. M. & 8.
do
do
R. & P., Equipment b’ds (cartrust) in 5 series.c*
VaFs
1,000
483,000 5 ,6 & 7 Various N. Y., Gallatin Bank.
Lincoln Park&Charl. 1st M.for $350,000 gu. g.c*
11 1889
1,000
350,000
5 g. J. & J. N. Y., Union Trust Co.
Buffalo céSouthw.—IstM.g.int.gu.byN.Y.L.E.&W.c*
07 1877 50 &c.
1,500,000
6 g. J. & J. N. Y., First Nat. Bank.
Burlington Cedar Rapids <&Northern—1st mortgage 369 1876 lo o &C.
6,500,000
5
J. & D. N. Y., Central Trust Co.
Iowa City & West., 1st M., red. at 105, guar.......c
7iJ 1879
1,000
584,000
do
do
7
g. M. & 8.
Ced. Rap. I. F. <feN. W., 1st M. g., guar., red, at 1051 408 1880
1,000
825,000
do
do
6 g. A. & O.
Fiscal year ends now June 30, and report in Y. 51, p. 273, showed the
following:
INCOME ACCOUNT FOR TEARS ENDING JUNE 30.
1887-88.
1888-89.
1889-90.
$
$
$
«Gross earnings................... . . . . 8,953,105
9,012,325
9,151,069
•Operating expenses and taxes. 6,553,444
5,975,607
6,276,777
Bonds—Princi
pal,When Due.
Stocks—Last
Dividend.
Sept. 1, 1906
June 1, 1937
April, 1891
Aug. 1, 1905
July 1, 1891
July 1, 1893
July 1, 1918
July 1, 1891
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, 1915
May 1, 1937
Jan. 1, 1927
Jan. 1, 1896
June 1, 1891
June l j 1916
Feb. 1, 1921
Dec. 1, 1922
Sept. 1, 1937
Various.
Jan., 1939
July 1, 1908
June 1, 1906
Sept. 1, 1909
Oct. 1, 1920
INCOME ACCOUNT.
1887-88.
1888-89.
1889-90.
$
$
Total net, includ’g other income 3,869,036
4,579,667
4,963,978
Deduct—
Rentals........................................ 2,862,902
2,933,517
2,576,3&1
Interest on bonds.......................
324,378
356,941
580,544
Other interest.............................
51,486
109,853
150,757
Sinking funds.............................
11,779
37,095
100,000
Net earnings................. . . . . 2,399,661
630,000
630.000
1,042,211
3,036,718
2,874,292 Dividends................ . . .................
Rate of dividends....................... 9 per cent
9 per cent 9*2 com.; 3 pf.
Deduct—
Eastern RR. proportion...............................
436.000
•Interest paid....................... . . . .
662,900
662,900
662,900
Rentals................................
78,000
78,000
78Ì000
Total.............................*.........
3,880,545
4,503,406
4,449,893
Dividends (8 per cent)....... . . . . 1,600,000
1,600,000
1,600,000
Balance. .............................. .D ef.ll,5 0 9
Sur. 76,261 Sur. 514,085
Total.............................. . . . . 2,340,900
2,340,900
2,340,900 —(V. 50, p. 276, 313, 559, 589, 702, 741; Y . 51, p. 276, 7 86; V. 52, p.
Balance, surplus.................
58,761
695,818
533,392 164, 321, 349, 795; V. 53, p. 21.)
B o sto n & N ew Y o r k A ir L in e .—Owns from New Haven, Conn.,
—(V. 50, p. 245; V. 51, p. 84, 206, 2 7 3 , 416, 457, 681 ; Y. 52, p. 322,
.718.)
to Willimantic, Conn., 50 miles; leases Turnerville to Colchester, 4
m iles; total operated, 54 miles. Formerly the New Haven Middletown
B o s to n & L o w e ll.—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 dividends
-•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; Central Massachusetts, 104 miles; Connecticut stock authorized $1,000,000; outstanding $838,000; par, $100.
6 Passumpsic, 147 miles; total leased, 280 miles; total owned and
B o sto n & P rovidence.—Owns from Boston, Mass., to Providence,
.leased, 369 miles.
The Connecticut & Passumpsic RR. is leased for 99 years from Janu R. I., 44 m iles; branches, 20 m iles; leases, Attleborough to North Attle
ary 1,1887. A lease of the Boston & Lowell and all its branches to the borough, 4 m iles; total operated, 68 miles. Leased for 99 years from
Boston & Maine for 99 years was effected in 1887 at 7 per cent on stock April 1,1888, to Old Colony RR. at 10 per cent yearly on stock and a
bonus of $1,300,000 cash, out of which an extra dividend of $32 50 was
till January, 1897, and 8 per cent thereafter.
Bonds for $1,000,000, due April, 1932, with interest at not exceeding paid on stock May 2,1888.—(V. 46, p. 480; V. 49, p. 718.)
7 per cent, have been authorized to retire $1,000,000 bonds falling due
B o sto n B evere B ea ch & L y n n .—Owns narrow-gauge road
April 1,1892. It is proposed to issue $1,000,000 stock.
from Lynn to East Boston, Mass., 9 miles, connecting with Boston by
Dividends since 1880—In 1881 and 1882, 4 per cen t; in 1883, 5 ; in company’s ferry boats. Guarantees principal and interest of the Boston
1884, 5*2 ; in 1885 and 1886, 6 ; in 1887, 6*2 ; in 1888 and since at rate Winthrop & Shore bonds, that road extending from East Boston to
«of 7.per eent yearly.
Winthrop, 5 miles, with branches 3 miles. In July, 1891, a consolida
Fiscal year ends September 30. No report issued since 1886. In tion with the Boston Winthrop & Shore Road was agreed to. Notes
1887-88 net earnings were $1,058,797; fixed eharges, $669,708; bal- payable June, 1891, $215,000; notes receivable, $75,000. In year
«aattee, $389,089.—(V. 52, p. 84.)
ending June 30, 1890, gross earnings were $299,582; net, $89,819;
B o sto n & M a in e.—Owns Boston to Portland, Me., via Dover, N. interest, $25,847; taxes, $12,804; dividends, $42,000; surplus, $9,168.
:H., 115 m iles; Boston to New Hampshire State (Eastern Railroad), 41
B rad ford B o rd e ll & K in z u a .—(3-foot guage)—Owns Bradford»
ihiles; Conway Junction, Me., to North Conway, N. H., 73 miles; Pa., to Simpson, Pa., 15 miles; branches to Rew City and Eldred, 14
branches to Lawrence, etc.. 87 m iles: total owned. 316 miles. Leases- m iles; total owned, 29 miles. Leases Simpson to Smethport, 10 miles;
New Hampshire State Line to Portland, Me., via Portsmouth, N. H. total operated, 39 miles. Stock is $500,000; par, $100. In December,
(Eastern Railroad in New Hampshire and Portsmouth Saco & Ports 1884, default in interest was made, and in January, 1891, George L.
mouth), 67 miles; Boston to Sherbrooke, Canada (Boston & Lowell, Roberts was appointed receiver. See V. 52, p. 164. In year ending
Nashua & Lowell, Northern New Hampshire, Connecticut & Passumpsic June 30,1890, gross earnings were $124,957; net, $44,761; interest,
and Massawippi Valley railroadsjL, 290 miles; Worcester, Mass., to Ro $29,880; rentals, etc., $27,879; deficit, $12,997.—(V. 52, p. 164.)
chester, N. H. (Worcester Nashua & Rochester), 9 4 miles; North Cam
B rad ford E ldred & C uba.—Operates Eldred to Wellsville, N. Y .'
bridge Junction to Northampton, Mass. (Central Massachusetts), 99
¡miles; branches, 344 miles; total leased, 894 miles; total operated 33 miles, o f which 4 miles owned. Stock, $480,000; par, $100. There
are also 2d mortgage bonds for $60,000, 6s, which were due June 1
.Sept. 30,1890,1,210 miles. For terms of leases see each company.
In 1890 a consolidation was made with the Eastern RR. of Mass, and 1885. Foreclosure suit begun in February, 1885. Reorganization in
the Portsmouth Great Falls & Conway, on terms in V. 50, p. 589. progress, securities being deposited with Continental Trust Co. of
Authority to consolidate with its other leased lines was granted in New York. In year ending September 30, 1889, gross earnings were
$47,763; net, $7,282; deficit under charges, $26,919. Thos. C. Platt,
1891. Company owns $1,811,500 Maine Central stock.
Stockholders of record June 24,1891, were entitled to subscribe to Receiver, 82 Broadway, New York.—(V. 46, p. 537; V. 51, p. 569.)
,$4,656,400 new stock at par. The terms include ten payments of $10
B r o o k ly n B a th & W e st E n d .—Owns double-track road from
per share each, the last being due May 20, 1892. This stock is issued Brooklyn (Union Depot), Fifth Avenue and 36th Street (terminus
"to fund the floating debt and to pay for improvements. See V. 52, p. UnionElevated R.R.), via Bath Beach and Bensonhurst to Coney Island.
164, 349. The company’s total stock when this issue is outstanding 6*2 miles. Reorganized in 1885. Increase of stock from $500,000
w ill be $20,954,144.
6 (par $100) to $600,000 was authorized in June, 1891, for improvements.
Dividends on common stock since 1880:—In 1881 to 1885 inclusive. 8 In year ending June 30, 1890, gross earnings were $99,232; net,
per cent; in 1886, 9*2; in 1887,10; in 1888 and 1889, 9; in 1890, Mav $21,987; taxes, $3,035; interest, $21,148; deficit, $2,202. President,
15, 4^2 ; November 15, 5 ; in 1891, May 15, 4 1?.
J. M. Butler, 119 South Fourth Street, Philadelphia.
On preferred stock (formerly Eastern preferred) 6 per cent yearly has
B r o o k ly n & B r ig h to n B e a c h .—Owns double-track road from
«been paid since 1887.
Atlantic Avenue corper Franklin Avenue, Brooklyn, to Brighton
In December, 1890, it was voted to guarantee certain bonds of the Beach,
Y., 7*2 miles. Successor to the Brooklyn Flatbush & Coney I.
St. Johnsbury & Lake Champlain Railroad There are also $81,000 sold in N.foreclosure
in October, 1887. Stock is—common, $500,000;
•Eastern 4 ^ per cent debentures, due September 1,1906.
preferred,
$500,000. In year ending June 30, 1890, gross earnings
From Oct. 1, 1890, to March 31,1891 (6 months), gross earnings
$119,799; net, $49,853; interest, $36,438; taxes, $15,816; other
w ere $6,964,578, against $6,737,494 in 1889; net, $2,118,510, against were
payments, $42,051; deficit, $44,452. Total deficit to July 1, 1890,
$2,099,352; surplus over eharges, $417,750 against $309,003.
Report for year ending September 30,1890, was in Chronicle , Y. 51 $116,180. President, James Jourdan, Brooklyn.
B r o o k ly n E leva ted .—Owns from Fulton Ferry and Brooklyn
;p. 786. Earnings and expenses below are for the whole system.
Bridge via York Street, &c., to East New York, 6% m iles; Broadway and
EARNINGS AND EXPENSES.
Lexington Avenue to Broadway Ferry, 2% miles, and Myrtle Avenue to
Adams Street and Brooklyn Bridge, 4ie miles; branch to Greenwood, 3
1887-88,
1888-89.
1889-90
miles; total, 18 miles. In Oct., 1890, consolidated with the Unien Elev
Miles operated............................
1,209
1,210
1,210
The capital stock is $13,283,600 (par $100). If net earnings suffice, a
Earnings----$
$
«
sinking fund of one per cent will purchase 2d mortgage bonds if obtain
Passenger------------6,489,565
6,885,048
7,347,201 able at 90 and first mortgage bonds at 105—no bonds drawn.
F reigh t...................................... 5,700,569
6,203,431
7,118,583
The Union Elevated first mortgage is for $7,000,000; the second for
Mail, express, &e......................
534,385
573,329
625,907
2,500,000; trustee of both, Central Trust Company. See abstracts in
'. 49, p. 583. Application in full to New York Stock Exchange was in
Total gross earnings..................12,724,519
13,661,808
15,091,691 Ch ronicle , V. 48, p. 129. See also V. 49, p. 471.
«.Operating expenses and taxes,. 9,241,762 9,479,465
10,567,213
From July 1,1890, to March 31,1891 (9 months), gross earnings were
tor
-*---------------------------------- --------------------- $1,285,739, against $1,130,006 in 1889-90; net, $547,166, against $452,Net earnings........................ 3,482,757
4,182,342
4,524,478 126; surplus over charges was $91.290, against $54,717 in 1889-90.
f
Jr l y , 1891.]
KAILROAD
STOCKS
AND
BONDS,
19
INVESTORS’
2©
SUPPLEMENT.
[V ol. LIIl.
Subscribers w i l l confer a great fa v o r by g iv in g Im m ediate notice o f a n y error discovered In tbese T a bles.
IBond s—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
___ ________________ ____________________________ j Miles Date Size, or
pal .When DueAmount
of
Par
For explanation of column headings, &c., see notes of
Rate
per
When
Where
Payable,
and
by
Stocks—Last
on first page of tables.
I ROad. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Burlington Cedar Rapids & Northern—( Concluded.)
Ced. Rap. I. F. & N. W., 1st mortgage, gold, gu.cj 408 1881 $1,000 $1,905,000
5 g- A. & O. N. Y., Central Trust Co.
Consol. 1st M. & collât, trust, g., $15,000p.m.c*&r AU 1884 l,000& c
5.313.000
do
do
5 g. A. & O.
Minneapolis & St. Louis, 1st mortgage (assumed)
12 1877 500 &c.
150.000
do
do
7 g. J. & D.
1,000
California Pacific—1st mort., gold (ext’ d in 1887.. 114 1867
2.232.000
4*2g. J. & J. N.Y., S.Pac.Co., 23 Br’d.
1,000
2d M., gold, endorsed by Cen. Pac., exten. in 1891 114 1871
1.600.000
do
do
4 12g. J. & J.
500
3dm ort.,g.,guar.by Cent. Pac. ($1,000,000are3s), 114 1875
2.998.000 3g. &6g. J. & J.
do
do
60 1891
1,000
Cambria & Clearfield.—1st M. for $2,000,000 g..c*i
750.000
J.
&
J.l
Phila.,
Of.,
233
S.
4th St.
5 g*
50
Camden & Atlantic—Stock ($880,200 of it p r e f) . . . . | 79
1,258,100 3 on pref.
Phila., Of., 233 S.4th St.
1,000
79 1853
1st mortgage (extended 20 years in 1873)........ c*|
490.000
J. & J. Phila., Farm. & M. B’k.
1,000
79 1879
497.000
i s- A. & O.
2d mortgage........................................ - - - - - - •- - - - -°*
do
do
1,000
Consol, mort. ($150,000are 5sreg.,mt.atoflice) c*| 79 1881
500.000
5 & 6 J. & J.
do
do
12 1891
Phil. Marl. & Med. lstM .gu,red. aft. July 1 ,’9 6 .c
100.000
5
J. & J.
Philadelphia.
31 1867 50Ò &c.
Camden <£■Burlington Co.—1st mortgage............. c*j
350,000
6
F. & A. Phila., Penn. RR. Co.
1,000
Canada AUantio—1st mortgage, gold.................... c* 142 1889
3.450.000
New York City.
5 g- J. & J.
100 15.000.
Canada Southern—Stock............................. .
436
000 1^4 F. & A. N. Y., Gr’d Cent. Depot.
1,000 13,923,600
1st mort., interest guar, by N. Y. C. & Hud. Riv.cj 404 1878
5
J. & J. ( N. Y., Union Trust Co.
2d m ortgage........... ............................
c&r 404 1883 l.OOO&c 5.349.000
M. & S.
5
do
do
100 65.000.
Canadian Pacific—Stock (guar. 3 p. c. div. till ’93).
000 2 ^ F. & A. •N. Y., 59 WaU St. & Lon.
Can.Cent.RR.lst and 2d morts.,lstM.s.f.,dr.at 105
£100 &c
1,823,333
5 & 6 Various
Montreal,
82-’83
uebec Prov. due on Q. M. O. & O. and N. S. RR.
7,000,000
A. & O.
5
do
1881 50Ó" &c.
an. Pacific, land mort, gold (redeem at 110)---3,438,500
5 g. A. & O. IMontreal, N. Y. or Lond’n
1st mortgage debenture sterling................... . 2,856 1885 £100 &c 34,998,633
5 g. J. & J. London, Baring B. & Co.
1st mort, on Algoma Branch......................... c*<fcr 183 1888 £100 &c
£750,000
do
do
5 g- J. & J.
1888 £100 &c $15,000,000
Ld. gr. bds, not dr’n, int. gu. by Can. Gov’t.c*&r
do
do
3*2g. J. & J.
1889
Consolidated perpetual debenture stock............
£2,483,375
4
J. & J. London, Comp’ys office.
Manitoba S. W. Col. R’y $12,000 p. m., int. guar.g 213 1884
1,000 $2,544,000
5 g- J. & J. N. Y., 59 Wall & London
Atlantic & Northwest—1st mort, gold, guar. ,c*<fer 325 1887 £100 &c £1,330,000
J. & J. London, Baring B. & Co.
North Shore Railway—1st mortgage............. .......
£99,600
5 S'
do
do
St, Lawrence & Ottawa—1st mortgage.................
54 1876 £50 &c
£ 200,000
London.
(6) 4 15J.&D.
8
For year ending June 30,1890, gross earnings were $1,567,511; net,
£632,740 ; surplus over charges, $95,940, against deficit of $21,348 in
1888-89. Henry W. Putnam, President. (V. 49, p. 269, 471, 690, 857;
V. 50, p. 138, 245, 707; V. 51, p. 207, 608, 715; V. 52, p. 80, 280, 762.)
B u ffa lo B rad ford & P ittsb u rg .—Owns from CarroUton, N. Y.,
to GilesviUe, Pa., 26 miles. Completed in 1866, and leased to New
York Lake Erie & Western for 499 years. Rental, 7 per cent on out
standing bonds, $40,600 a year. Capital stock, $2,286,400; par $100.
B u ffalo New Y o r k & E rie.—Owns from Buffalo, N. Y., to Cor
ning, 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 Com
pany. Rental, $238,100—viz., 7 per cent on stock and bonds and
$5,000 for organization Expenses. Dividends and interest paid directly
by the lessees.
B u ffalo B och ester & P ittsb u rg B a llw a y .—(See Map.)—Owns
Rochester, N. Y., and Buffalo, N. Y., to Walston, Pa. (except 40 miles of
trackage mentioned below and here deducted), 215 m iles; branches to
mines, 12 miles. Proprietary roads ow ned: Lincoln Park & Charlotte
Railroad, 11 m iles; Brockwayville & Punxsutawney Railroad, 25 m iles;
Perry RR., 1 mile. Trackage—New York Lake Erie & Western, Howard
Junction, Pa., to Clarion Junction, Pa., 36 miles; Buffalo Creek Rail
road. 4 m iles; total operated, 304 miles.
Tins company was formed in March, 1887, as successor of the Roch
ester & Pittsburg and the Pittsburg & State Line railroads, which were
foreclosed in October, 1885. In April, 1890, a controlling interest in
the stock was purchased by a Buffalo syndicate, headed by the Bell,
Lewis & Yates Coal Mining Company, which company guarantees to
ship over the road for the next five years not less than 500,000 tons of
coal annually. The Rochester & Pittsburg Coal & Iron Company also 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.
Of the general mortgage (trustee Union Trust Company of New York)
for $10,000,000, there are $6,000,000 reserved for prior bonds. There
are also $16,000 incomes, due in 1921, mortgages on real estate for
$298,500, due In 1895, and $20,000 Perry RR. guaranteed 7s due 1902.
From July 1,1890, to May 31,1891 (11 months), gross earnings were
$2,305,848, against $1,781,116 in 1889-90; net, $642,611, against
$605,258. For 9 months ending March 31, 1891, deficit after payment
of charges was $50,073, against $13,532 in 1889-90.
Fiscal year ends June 30. In the following the figures for 1889-90
are for the year ending June 30; all others for years ending September 30.
1886-87.
1887-88.
1888-89.
1889-90.
Receipts—
$
$
$
$
2,001,156
2,021,591
Gross earnings.......... 1,916,361
1,913,172
Net earnings............. 516,975
447,671
574,826
674,697
Other income............
77,759
30,934
15,969
45,974
594,734
478,605
590,795
720,671
353,910
5,910
62,595
400,350
14,818
74,431
437,452
4,992
74,099
488,650
700
144,125
Tot. disbursem’ts 422,415
B alance.................. sur. 172,319
489,599
def. 10,994
Total receipts___
Deduct—
Interest on bonds___
Int. on floating debt.
Rentals.......................
516,543
633,475
sur.74,252 sur.*87,196
* Of this amount $56,292 were spent for betterments, &c.
President, Arthur G. Yates, Rochester, N. Y.
—(V. 48, p. 190, 2 2 0 , 222, 855; V. 49, p. 21, 207, 650; V. 50, p. 10 6 ,
207; V. 50, p. 560, 589, 622; V. 51, p. 240, 645, 82 8; V. 52, p. 239, 707.)
B u ffalo & Sou th w estern .—Owns from Buffalo 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 30,1890, $138,334; in
1888-89, $143,776. Stock—common, $471,833 (of which Alleghany
Valley RR. owns $235,916), and $471,833 of 7 per cent preferred; par,
$100. Common stock shares dividends after 7 on preferred. In
1889 and 1890 paid 8 per cent on preferred and 1 on com m on; in
1891, March 7, 7 on preferred.
B u rlin g to n Cedar B a p id s & N orth ern .—On January 1,1891,
operated from Burlington, Iowa, to Albert Lea, Minn, (including 11
miles leased), 253 miles; branches—Linn, Iowa, to Postville, Iowa, 94
m iles; Muscatine, Iowa, to Riverside, Iowa, 31 m iles; Vinton, Iowa, to
Holland, Iowa, 48 m iles; Iowa City to What Cheer and Montezuma,
73 m iles; Clinton Division, 81 m iles; Decorah Division, 23 miles; Iowa
Falls Division, 430 m iles; Waverly Division, 6 m iles; Forest Division,
7 miles; total owned, 402 miles; total operated, 1,046 miles. This
company has a perpetual lease of those lines (included above) built by
the Iowa City & Western, the Cedar Rapids Iowa Falls & North West
ern, 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 ¿¿Northwest
ern Road are endorsed (endorsement is on the bonds); the 6 per cent
bonds are subject to call at 105. Of the 5 per cents $825,000 are reserved
to retire the 6 per cents. The company guarantees the above bonds.
Oct. 1, 1921
Apr. 1, 1934
June 1, 1927
Jan. 1, 1912
Jan. 1, 1911
July 1, 1905
Jan. 1, 1941
Dec. 9, 1889
Dec. 31,1892
Oct. 1, 1899
July 11,1911
July 1, 1911
Feb. 1, 1897
Jan. 5, 1909
Aug. 1, 1891
Jan. 1, 1908
Mch. 1, 1913
Aug. 17, 1891
1899 & 1910
1902 & 1904
Oct. 1, 1931
July 1, 1915
July 1, 1937
July 1, 1938
Irredeemable
June 1, 1934
Jan. 1, 1937
Apr. 20,1904
June 15,1910
The Central Trust Company is trustee of the consolidated mortgage,
which will retire all prior and divisional bonds. Stock outstanding is
$5,500,000; authorized issue, $30,000,000; par $100.
From January 1 to May 31 in 1891 (5 months) gross earnings were
$1,339,251, against $1,197,584 in 1890; net $389,840, agst. $313,426.
In year ending June 30,1890, surplus over all charges was $60,786.
Annual report in V. 52, p. 640, gave net income, &c., as follow s:
INCOME ACCOUNT.
1887.
Receipts—
$
Gross earnings.......... 3,005,962
Net earnings............. 780,057
Other receipts..........
95,789
Total income.......
Disbursements—
Interest on debt........
Const’n, equip., &c...
1888.
$
2,848,076
771,447
61,282
1889.
$
2,986,543
808,609
96,308
1890.
$
3,303,982
816,147
105,256
875,846
832,729
904,917
921,403
767,127
140,067
771,130
247,669
771,130
154,128
775,479
150,314
Tot. disbursem’tsi 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. 6 6 1 , 687; V. 50, p. 422, 7 0 2 ; V. 51, p. 275; V. 52, p. 6 40.)
C aliforn ia Pacific.—Owns from Vallqjo, Cal., to Sacramento, Cal,
60 miles; branches to Calistoga, &c., 55 miles; total, 115 miles. In
November, 1886, leased for 50 years to Southern Pacific Company.
Rental, $600,000 per annum and three-fourths of net earnings when in
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, including betterments, $109,697); paid interest, etc., $364,922; surplus to lessor, $235,077.—(V. 51,
p. 786, 910.)
C am bria & Clearfield.—Under construction from Cresson on
the Pennsylvania RR. into the coal fields of Cambria, Clearfield and In
diana counties, Pennsylvania. Stock 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.)
Cam den & A tla n tic .—Owns Camden, N. J., to Atlantic City, and
branch, 62 miles; Atlantic City to Longport, 6 miles; Philadelphia Marlton & Medford Railroad—Haddonfield to Medford, 12 miles; Chelsea
Branch RR., 1 m ile; ferries, 2 miles; total operated, 83 miles. Pre
ferred 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 com
mon and $451,950 preferred stock, and there was due that company
Jan. 1, 1891, $250,000.
Dividends since 1880: On common, in 1882, 3 per cent, and none
since; on preferred, in 1881, 3 ^ in scrip; in 1882, 4; in 1884, 7; in 1887,
5; in 1888, 2^; in 1889, 3; none since.
From January 1 to May 31, 1891 (5 months), gross earnings on
main line and branches were $227,570, against $230,429 in 1890; de
ficit, $10,488, against deficit of $3,097.
On main line and branches in 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; surplus, $12,126.—(V. 50,
p. 6 2 1 ; V. 52, p. 5 6 9 .)
C am den & B u rlin g to n C ou n ty.—Owns from Camden, N. J., to
Pemberton, N. J., 23 m iles; branch, Burlington, N. J., to Mount Holly,
7 miles; total, 30 miles. Operated by the Pennsylvania Railroad.
Lease rental, $44,415, being 6 per cent on stock and bonds. Stock,
$381,925; par $25. Dividends in January and July. £n 1890 gross,
$265,809; net, $76,745, against $67,658 in ’ 89; profit to lessee, $32,330.
Canada A tla n tic .—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 “ Soo ” route. Exten
sion 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.
In year ending June 30.1890, gross earnings were $567,235; net,
$225,146. In 1888-89 gross, $515,372 ; net, $208,202. (V. 51, p. 493.)
Canada S o u th e r n .- L ine of R oad —Main line from Cantilever
Bridge to Windsor, Ont., 226 miles; branch, Amherstburg to Essex
Centre, 16 m iles; Fort Erie Branch, 17 m iles; Oil Springs Branch, 3
miles; St. Thomas, Ont., to Courtright, Ont., 63 miles; Erie & Niagara,
31 m iles; Sarnia Chatham & Erie, 7 ; Canada Southern Bridge & Ferry,
4 ; Toledo Canada Southern & Detroit, 56, and Michigan Midland &
Canada, 15; total of all lines operated, 436 miles, of which 105 miles
are nominally owned by proprietary companies under separate organi
zations.
The Canada Southern Railway Company wa^ chartered in Canada
February 28,1868, and debt readjusted by Act of Parliament in 1878.
Interest on the 1st mortgage is guaranteed by the New York Central
RR. Co., till 1898; but the principal is not guaranteed. In November,
1882, a close contract was made with the Michigan Central for 21 years
from January 1,1883, providing for the payment to Canada Southern
of one-third the joint income over all fixed charges, but Michigan Cen
tral, by reduction of its interest charges, now receives more than twothirds.
Ju l y ,
1861.)
.RAILROAD
STOCKS AND
BONDS.
31
Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f any error discovered in tbese T a b les.
IBonds—Brinci INTEREST OR DIVIDENDS.
RAILROADS.
Ipal, When Due.
Vliles Date Size, or
Amount
1
Stocks—Last
of
Par Outstanding j
For explanation of column headings, &c., see notes of
Dividend.
Whom.
aS ! Cent. Payable
on first page of tables. _______ ____ | load. Bonds j Value.
Canadian Pacific—( Concluded.)
Ontario & Quebec stock guaranteed.. . . . . . . . . . .
Ont. & Que. debentures, interest guaranteed—
Toronto Grey & Bruce, 1st m o r t g a g e .- -------Cu Fr <£- Tad val—1st M. ser. A, $10,000 p. m.c &r
1 s t M Sen “ B,” $10,000 p.m. (2d on 233 m.)c*&r
1st mort series C, (2d mort. on 225 miles.). .c &r
Carol^a C en t^ lstM . (WUm. to Sbelby, 240 m. .c*
2d and 3d mortgages, gold, income, non-cumul...
Carolina Cumb. Gap <6 Chic. 1s t •\85!]*?■---•
Carson & Colorado- 1st M., Ser. A, B and C. .
Carthage <6 Adirondack—1st mort. for $800,000...
2d mortgage for $800,000.......- - ...........- - - - - ----Cataunssar-Pref. stock, 7 per cent. guar. P. & R ... .
Mortgage bonds..................... - - - - - - - ■- - - •-; •■
1st mortgage, assumed by Pbiladelpbia & R ead..
Cayuga & Susa—Stock, 9 p. c. rentalD. L. & W . . . .
Cedar Falls <£•M inn—Bonds on 2d div. sink, fund.c
Cent. Br. JJ. P —1st M. Atcb. & P. P.RR. g.. gold .c
Fundint. (mort.) bds. (coup, beld in trust) gold.c
2d mortgage (Government subsidy)
Central Massachusetts—1st M., int. gu. by B. & L.c
Cent. New England <&Western—1st mortgage, g ..c
General mortgage for $5,000,000, gold .-------- .c
Centred Ohio—Stock ($411,550 of this is preferred).
Consol. 1st mortgage (for $2,850,000) g o ld ......c
Central Pacific—Stock............ . . . . . . . . . . . - - . . . . . . . . .
1st M.,ser. A to I, incl., gold (2 sink, f’ds) not dr’n
1st M. S. Joaq’nVal. Br., g.(s.f.$50,000)not drawn
U. S. Loan (2d lien on certain terms) gold............
$100
£100
190 1883
150 1886 $1,000
75 1886
1,000
83 1886
1,000
240 1881
1,000
240 1881
1,000
25 1882
1,000
299 ’ 81-’88 1,000
1883
1889
50
97
93 1870 500 &c.
1882
34
30
61 1866 500 &c.
100 1865
1,000
1,000
100 1879
100 ’66-7-8 1,000
1,000
99 1886
1,000
53 1889
53 1891 500 &c.
50
137
1,000
137 1886
100
737 1865-8 1,000
1,000
146 1,870
737
Dividends since 1880—In 1881, 2*2 per cent; in 1882, nil; in 1883
and 1884, 2 ; in 1885 and 1886, n il; in 1887, 1888 and 1889, 2^2; m
1890, 3*2; in 1891, February 2 ,1 % ; August 1 , 1]4.
From 1890’s earnings the surplus to Canada Southern was $355,633
(against $407,000 in 1889); surplus of former years, $229,045; total,
$613,045; dividends (212 per cent), $375,000; balance, $215,733;
for 1888 surplus was $339,161; for 1887, surplus, $540,870. For latest
reports of earnings see Michigan Central. (V. 49, p. 825; V. 50, p.
8 3 3 ,9 0 4 ; V. 51, p. 909; V. 52, p. 8 9 8 ,9 7 3 .)
C anadian P acific.—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 ac
count of owners; also the Calgary & Edmonton RR. (with 196 miles in
cluded above) under construction, 300 miles making the whole system,
including the New Brunswick Railway, 6,609 miles. (See details m
C h ronicle , V. 52, p. 799.) The road was opened throughout the first
of July, 1886. In July, 1890, leased the New Brunswick Railway sys
tem, 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 Brockville in order to connect with the N. Y. Central.
$6© V 52 p. 534.
The Canadian Pacific was incorporated February 18,1881, under a,
charter 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 fit for settle
ment. In November, 1883, the Dominion Government gave a guarantee
of 3 per cent dividends per annum till August, 1893, on $65,000,000 of
$2,000,000 6 per an. 'J. & D.| Montreal and London.
IVarious London, Morton, Rose.
5
£4,007,381
& J. Toronto and London.
4
£719,000
& D. N.Y., Farm. L. & Tr. Co.
$1,500,000
6 g.
do
do
& D.
734,000
6 g.
do
do
& D.
820,000
6 g.
& J. Phila., Mecb. Nat. Bank.
2,000,000
6 g& J.
2,700,000
6 g.
New York City.
6 g. M. & N.
(?)
New York.
4,380,000
J. & J.
6
M. & N. Pbil.Fidelity Ins. &c.Co.
771,000
6
do
do
F. & A.
153,000
6
3,200,000
3Lj M. & N. Philadelphia Co.’s office
F. & A. Phila., Phila.& Read.Co.
1,300,000
7
do
.do
F. & A.
230,500
6
4*2 J. & J. New York, 52 Wall St.
589,110
J. & J. Last paid July, 1887.
1,377,000
7
1,600,000
6 g. M. & N. N. Y .,195 B’y & U.Tr.Co.
do
do
630,000
7 g. M. & N.
Ü.S. Treas., at maturity.
1,600,000
6
Boston Co.’ s office.
A. &" O.
2,000,000
5
2,500,000
6 g. M. & S. Phila. Fid. Ins. & Tr. Co.
New York Agency.
4 g. M. & S.
(?)
J. & J. Balt., at B. & O. office.
3
2,860,048
2,500,000
4iag M. & S. N. Y., Union Trust Co.
1
F. & A. N. Y., S.Pac.Co., 23Br’d.
67,275,500
do
do
25,883,000
6 g. J. & J.
do
do
6,080,000
6 g. A. & O.
25,883,000
6 g. J. & J. United States Treasury,
June, 1891
Irredeemable.
July 26, 2882
June 1, 1916
June 1, 1916
June 1, 1916
July 1, 1920
1910 & 1915
Nov. 1, 1912
1911,-’ 13-’ 18
May, 1923
Feb. 1, 1925
May 19,1891
Feb. 1, 1900
Feb. 1, 1902
July 2, 1891
Jan. 2, 1907
May 1, 1895
May 1, 1895
1896, ’97, ’98
Oct. 1, 1906
Sept. 1, 1939
1991
July 31,1891
Sept. 1, 1930
Aug. 1. 1891
1895,’96,’7 &’ 8
Oct. 1, 1900
1895 to 1898
nettsville, S. C., 57 miles; Factory branch, 19 miles; Madison and
Granite branches, 14 m iles; total, 338 miles. The first mortgage (trus
tee Farmers’ Loan & Trust Co.) is in three series, each series having a
first lien on one division of the road and a second lien on the other
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 “ C” bonds are a first mort
gage on road from Fayetteville to Wilmington. New consolidated
bonds at $15,000 per mile have been authorized, 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 consols will be given instead. Stock authorized, $3,000,000; outstanding, $1,374,402 (par, $100).
From July 1 to June 30 (12 months) gross earnings on 338 miles in
1890-91 were $589,832, against $456,617 on 278 miles in 1889-90; net,
$239,562, against $196,573. In year ending June 30,1890, gross earn
ings were $456,618; net, $203,894; surplus over charges, $38,978.
—C7. 46, p. 319 ; V. 48, p. 547, 7 6 3 , 799 ; V. 50, p. 589.)
Cape Girardeau. Sou th w estern .—See St . L ouis Ca p e G ir a r
deau
& F o r t Sm it h .
C arolina C entral.—Owns from Wilmington, N. C., to Rutherfordton, N. C., 267 miles, andhranch, 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 ending
June 30,1889, gross earnings were $562,296; net, $156,009; interest
on bonds, $129,937; other, $9,271; bonds redeemed, $11,000; surplus,
$12,222. There are also $212,000 first mortgage 7 per cent Wilming
ton Railway Bridge Co. bonds, due October 1891 to 1897, and $46,000
second mortgage 5s, due 1898-1900, both issues being guaranteed by
8tPrice of stock: In 1883, 487s®6512; in 1884, 39®5814; in 1885,35%® the Carolina Central, the Wilmington Columbia & Augusta and the Wil
6314; in 1886, 61®73; in 1887, 4912®6838; in 1888, 51:i4:®6214; in 1889, mington & Weldon roads. (V. 50, p. 662, 735.)
47L>@75; in 1890, 67®8414; in 1891, to July 17, inclusive, 7214®825s.
C arolina C u m berlan d Gap & C h icago.—Owns road in opera
Dividends since 1882—In 1883, 2*2 per cent; in 1884, 5 ; in tion from Aiken to Edgefield, S. C7, 25 miles, and projected to Abbeville,
1885,4; from 1886 to 1889 inclusive, 3 per cent yearly; in 1890, 5, of 42 miles additional. Operated under temporary arrangement by
which 2 per cent was supplementary out of earnings; in 1891, 5 (of receiver of the South Carolina Railway. From Jan. 1 to March 31,
which 2 p. c. supplementary). See V. 50, p. 37.
, ,
...
1891 (3 months), gross earnings were $11,341, against $7,349 in 1890.
In May, 1888, the company voted to relinquish its exclusive right to
build and operate in Manitoba, receiving the Dominion Government
Carthage & A d iro n d a c k .—Owns from Carthage to Benson Mines,
guarantee of interest on $15,000,000 of land grant bonds.' These bonds N. Y., 43 miles. Stock $500,000, par $100. The Magnetic Ore Com
for £3,093,700 are a lien on 14,674,916 acres of land subject only to pany guarantees the first mortgage bonds. In year ending June 30,
$3,438,500 land grant bonds of 1881, which are redeemable at 110.
1890, gross earnings were $84,778; net, $37,780; interest and taxes,
The first issue of consolidated debenture stock (£903,375) was made $61,890; deficit, $24,190. Total deficit June 30,1890, $88,610.
in October, 1889 (see Ch ronicle , V. 49, p. 116), and in 1890 a further
C ataw issa.—Owns from Tamanend, Pa., to Williamsport, Pa., 93
amount of £1,000,000 was put ou t; in 1891 this stock was still further m iles; branch, Summit Station to Silver Brook, 4 m iles; total operated,
increased.
.
,,
. . ,
. . ,
97 miles. Leased from November 1,1872, for 999 years to Philadelphia
In June, 1890, company agreed to guarantee the principal and inter & Reading. Rental, 30 per cent of gross earnings and $8,000 a year for
est of $20,000,000 4 per cents, to be issued by the Duluth South Shore company expenses. Funded debt was assumed by lessees. Seven per
& Atlantic; also 4 per cent interest on bonds of the Minneapolis St. Paul cent is guaranteed on the preferred stock, of which $2,200,000 is first
& Sault Ste. Marie. (See V. 50, p. 874; V. 51, p. 239; V. 52, p. 608.)
preferred. The common stock is $1,159,500. par $50. (V. 48, p. 799.)
To the Atlantic & Northwest Railroad, crossing the State of Maine,
Cayuga & Su squ eh an n a,—Owns from Susquehanna River to
the Dominion Government grants a subsidy of $186,000 per year till
1906 and Canadian Pacific guarantees the balance of money necessary Ithaca, N. Y., 34 miles. Charter expires in 1899. Leased till then to
Delaware
Lackawanna & Western at a rental of $54,600 a year. Divi
for interest.
,
. _
The lands unsold December 31,1890, were 15,245,963 acres of Can dends on capital, 9 to 912-per cent per annum.
adian Pacific grant and 1,242,996 acres of Manitoba Southwestern grant.
Cedar F a lls & M in n eso ta .—Owns from junction near Cedar
From January 1 to May 31 in 1891 (5 months) gross earnings on Falls, Iowa, to Minnesota State Line, 76 miles. Leased to Dubuque
5,568 miles were $7,424,983, against $5,931,173 on 5,407 miles in 1890; Sioux 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
net, $2,352,710, against $1,675,259.
The annual report for 1890 in full in the Chronicle. V. 52, p. 760, this road, and in October, 1890, the United States Circuit Court decided
lease was valid. See V. 51, p. 493. Case has been appealed to the
797, showed the follow ing:
*1890.
1889.
1888.
United States Supreme Court. Interest was defaulted January, 1888.
5,568
5,029
5,075
The Dubuque & Sioux City is now controlled by the Illinois Central.
Miles operated December 31..
$
$
Earnings—
$
Stock, $1,586,500, par $100.
¿ M a i «.
4,774,714
4,520,741
From July 1,1890, to December 31,1890 (6months), gross earnings
Passenger................................... 3,800,884
10,106,644 were $54,747, against $50,529 in 1889; deficit, $14,015, against
8,852,202
Freight..................................... . 8,017,314
1,671,171 $31,964. In 1889-90 gross earnings were $27,941; deficit under oper
1,657,717
Mail, expr’ss and miscellaneous 1,377,338
ating expenses and taxes, $39,649. J. Kennedy Tod, President, New
#
16,552,529
15,030,660
13,195,536
Total earnings.....................
York. (V. 51, p. 493; V. 52, p. 427.)
10,252,828
9,024,601
Operating expenses.................. 9,324,761
Central B ra n c h U n io n Pacific.—Owns from Atchison, Kan., to
Waterville, Kan., 100 m iles; leases Atchison Colorado & Pacific, 254
6.299.700 miles;
6.006.059
Net earnings............................... 3,870,775
Atchison Jewell County & Western, 34 m iles; total operated,
61-94
60-04
Per ct. of oper. exp. to earn’gs.
70-66
388 miles. This company was formerly the Atchison & Pike’s Peak RR.
INCOME ACCOUNT.
and had a United States subsidy of $1,600,000. Controlled by Union
1890.
1889.
Pacific, but leased to Missouri Pacific for 25 years from Sept., 1885;
1888.
$
rental, net earnings. The stock is $1,000,000 (par, $100), of which the
$
$
6.299.700 Union Pacific owns $858,800.
6.006.059
Net earnings............................... 3,870,775
.
4,246,617
3,779,133
From Jan. 1 to May 31 (5 months), gross earnings were $255,861 in
Fixed charges.......................... 3,544,351
1891, against $510,520 in 1890; net, $3,886, against $181,727. In
2,053,083 1889 gross earnings, $854,960; net income, $250,417; deficit under
2,226,926
326,424
Surplus..... .................................
1,300,000 charges, $280,377. In 1890, gross, $974,472; net, $198,413 ¡d eficit
650,000
Supplementary dividends........
under charges, $316,361. Dividends: In 1885, 5 per cent; in 1886,10;
753,083 in 1887,10 ; none since.
1,576,926
326,424
Balance................................
Central M assach u setts.—Owns North Cambridge to Northamp
* Including New Brunswick Railway since September 1.
ton, Mass., 99 miles. Formerly the Massachusetts Central, sold m fore
—(V. 49, p. 116,173, 539, 689; V. 50, p. 37, 352, 622, 7 0 1 , 736, 874; closure September 1, 1883. The stock is $7,367,200 (par $100), of
which $3,946,922 is preferred. Leased to Boston & Lowell for 99 years
V. 51, p. 172, 239, 534, 570, 608, 7 6 0 , 776, 797.)
Cape Fear & Y a d k in V a lle y .—In operation from Wilming" from October 1,1886, at a rental of 20 per cent of gross earnings up to
ton, N. C., to Mount Airy, 248 miles; Fayetteville, N. C , to Ben" $1,000,000, but with a guarantee of sufficient rental to pay interest.
22
INVESTORS’
SUPPLEMENT.
[V ol. L III.
BONDS.
AN D
STOCKS
RAILEOAD
1891.]
Ju l y ,
INYESTOKS’
SUPPLEMENT.
[V ol. l i e
J uly , 1891.]
RAILROAD
STOCKS
AN D
BONDS.
2 5
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f an y error discovered In these T a b les.
Bonds—Brinci
INTEREST OR DIVIDENDS.
RAILROADS.
ial,When Due«
Size, or
Amount
of
Par Outstanding Rate per When Where Payably, and by Stocks—Last
For explanation o f column headings, &c., see notes of
Dividend.
Whom.
Payable
Road.
Bonds
Value.
Cent.
on first page of tables.
Dec.
1, 1895
N.Y.,
S.Pac.Co.,
23
Br’d.
J.
&
D.
147
1865
$1,000
$111,000
6 g.
Central Pacific—(Cont.)—Western Pacific, old issue
July 1, 1899
do
do
147 1869
1,000
2,624,000
6 g. J. & J.
1st mortgage, series A & B., g o ld .....................
1895
& 1899
United
States
Treasury.
Various
123
1869
1,970,000
6 g.
Western Pacific, Government ben, gold. - - - - - - - - 1,000
5,982,000
5 g- J. & J. N.Y., S.Pac.Co., 23 Br’ d. Jan. 1, 1918
Cal. & 0 . 1st M., ser. A, g. (exte’d) > s. f.$100,000 296 1868
Jan.
1,
1892
N.Y.,S.Pac.Co.&London
1872
296
1,000
5,858,000
6 g. J. & J.
Do
do ser. B, g.
S not drawn.
Oct. 1, 1900
do
do
1870
4,258,000
1,000
5 g. A. & O.
Land grant 1st M., gold, guar., extended in 1890.
Apr.
1,
1939
N.
Y.
&
San
Francisco.
1,000 11,000,000
5 g. A. & O.
Mort. gold, 5s, 1939, Id. gr.,guar., s. f., not dr n.e 1,261 1889
100
7,500,000
3ia J. & D. N.Y.,Sec.& Tr.Co.&Sav. June 30, 1891
Central RR. & Banking Co. o f Georgia—Stock........
620 1872
J. & J. N. Y., Security & Tr. Co. Jan. 1, 1893
1,000
4,999,000
7
General mortgage “ tripartite” bonds... ...
Apr. 1, 1937
do
do
1,000
(?)
5 g- A. & O.
Consol, mort. for $13,000,000, gold, red. at 110.0* 311 1890
May 1, 1937
do
do
4,880,000
1887
1,000
5 g. M. & N.
Collateral trust bonds, gold, redeemable at 110. c*
After July, ’91
Savannah, Ga.
4,600,000
6
J. & J.
1881
100
Certs, of debt, payable at option after July, 1891
July
1920
1,000,000
1890
1,000
5 g* J. & J. N. Y ., Security & Tr. Co. Mch. 1,
Ocean SS. Co. 1st M., guar............................. .......o
1, 1920
Savannah, Ga.
250,000
M. & S.
5
17 1890 500 &c.
Savannah & Atlantic 1st mortgage, assumed...o’
Aug.
1,
1891
100 22,367,000
Q.—F. SN. Y., Office, corner ^
i%
Cent. RR. o f N. Jersey—Stock ($30,000,000 author.)
M. & N. 1 West & Liberty Sts. ) Nov. 1, 1902
1,167,000
97 1872
7
1,000
Bonds, secured by consolidated mortgage of 1874
July
1,
1899
do
do
3,836,000
7
97 1874
1,000
Q.—J.
Consolidated mortgage (now first mortgage).. .c*
May 1, 1908
do
do
M. & N.
595,000
6
1883
1,000
Convert, debentures, convert, into stock till 1907
Deo. 1, 1899
do
do
J. & D.
11 1869
197,000
7
1,000
Long Branch & Sea Shore, 1st mortgage, guar, .c*
July 15,1899
do
do
J.
&
J.
411,000
6
78
1879
600
N. J. Southern 1st mortgage............................... c
Deo. 1, 1931
do
do
1,500,000
38 1882
1,000
5 g. J. & D.
N. Y. & L’gBranch 1st M., red. in 1899 at 110, g .c’
July 1, 1987
do
do
See
rem.
34,960,000
50Ó
&c.
1887
5 gGen. mort. for $50,000,000, gold.....................c<fcr
2,310,000
1867 500 &e.
6 g. J. & D. Phila., Leh. C. & Nav. Co. Dec. 15,1897
Lehigh Coal & Nav., mortgage, gold, assumed..
July 1, 1921
N.
Y.,
Cent.
RR.
of
N.
J.
J.
&
J.
4,987,000
5
1,000
1881
Am. Do ck&Imp. Co. 1 stM., guar.,redeem.a tl 10. c*
1892
Philâ., Guar. Trust Co.
239,000
6
1921
N.
Y.,
John
Paton
&
Co.
J.
&
J.
300,000
40 1881
6 g.
Centred o f South'Carolina—1st mortgage, gold ... .c
J. & J. Boston, Am. L. & Tr. Co. June 30,1913
5
7,000,000
Central o f Vermont—Consolidated RR. of Vt. 1st M. 185 1883 10Ó &c.
July
1, 1919
N.
Y.,
Farm.
L.
&
Tr.
Co.
J.
&
J.
1,000
1889
5 g(?)
Oentrcdia d Chester—1st M. for $1,680,000, gold.c*
1901
semi-an.
6
1891
(?)
Char. G.db Chic—Ser.I,$4,500,000,red.aft.’ 96,atl03
1941
semi-an.
5
1891
(?)
Series II, con. mort., for $35,000 p.m ....................
Oct., 1890, last paid. July 1, 1947
7,345,000
1,000
5 g- Q .-J .
Old 1st M., gold, ($25,000 p. m.) to be retired . .c* 175 1887
Jan. 1, 1936
1,236,000
1,000
7 g. J. & J. N.Y.,12 W.23 & Cha’st’n Irredeemable,
Charleston & Savannah—Gen. M. ($1,500,000, g..c* 121 1886
2,000,000
7
1,000
121
1886
1st and 2d pref. inc., $1,000,000 each, non-cum..
Central N ew E n g la n d & W e ste rn .—(See Map.) - Owns from
Campbell Hall across tne Hudson River at Poughkeepsie to Silvernails,
53 m iles; leases Hartford & Connecticut Western, Hartford to Rhinecliff, 108 miles, and operates the Poughkeepsie Bridge line, 3*2 m iles;
total, 164 miles. Has traflfc contract with Boston & Maine.
Company organized in 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 Silvemails, excepting line of Poughkeepsie Bridge Company; also
real estate equipment, &c.; the rights in the lease of the Hartford
<fe Connecticut Western Railroad and 13,900 shares of that company’s
stock. Fidelity Insurance Trust & Safe Deposit Company of Philadel
phia, trustee.
_
‘ . .. . . . .
The first mortgage bondholders have agreed to exchange their hold
ings for the new general 4s, and to waive all interest for two years.
The new bonds will further be issued to the amount of $1,400,000 for
new equipment and betterments, and the balance ($1,100,000) will be
held in the treasury. See Y. 52, p. 795. For Poughkeepsie Bridge, see
that company, under “ Miscellaneous.” Stock, $1,600,000, par, $100.
From January 1 to Mar. 31, 1891 (3 months), gross earnings were
*141,730, against $96,872 in 1890; net, $32,883, against $14,294; re
vised fixed charges (3 months), $21,155. John S. Wilson, President, 115
Broadway, N. Y. (Y. 49, p. 82,173; V. 50, p. 314, 422; V. 51, p. 276,
457; V. 52, p. 40, 498, 795.)
Central O h io .—Owns from Bellaire, Ohio, to Columbus, Ohio, 137
iniles. 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
o f $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, 6 ^ ; from
1882 to July, 1891, both inclusive, 6 per cent yearly. (V. 48, p. 70;
V. 51, p. 205; Y. 52, p. 204.)
Central Pacific.—('See Map o f Southern Pacific.)—L ise of R oad .—
—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.
T he Ch a r t e r , L eases , &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 Gov
ernment 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. S. Government sinking fund was $3,878,000.
In March, 1885, the Central Pacific lines were leased to the Southern
Pacific Company. The Central Pacific receives all its net surplus
income above annual charges 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 B onds —Dividends: In 1877, 8 per cent; 188 0,6 ; 1881,
•6; 1 8 8 2,6 ; 1883; 6; 18 8 4,3 ; 1 8 8 8 ,2 ; 1889, 2 ; in 1890, 2 ; in 1891,
Feb. 1 ,1 per cent; Aug. 1 ,1 per cent.
The sinking funds are invested mainly in the bonds of other tribu
tary lines and accumulate; the bonds are not called in. The sinking
funds amounted January 1,1891, to $8,330,337. The 5 per cent mort
gage bonds of 1889 are guaranteed principal and interest by the South•ern Pacific Company; the mortgage is for $16,000,000, the Metropoli
tan Trust Co. of N. Y. being trustee. (V. 49, p. 340.) There are still out
standing $56,000 6 per cents (interest A. & O.), 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.
T he L and G ran t .—The total land granted the 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. In 1890
•53,601 acres were sold for $194,768 and total cash receipts of Land
Department were $310,226. Land contracts on hand January 1,1891,
-to credit of land grant bonds, $1,067,039; cash, $242,447; notes of
•Central Pac. RR., $2,500,000.
Oper ation s , F inances , &c .—First dividend under the lease was paid
February 1,1888, and dividends have been paid regularly since at rate
•of 2 per cent yearly.
From Jan. 1 to May 31,1891 (5 mos.), gross earnings were $6,174,535, against $5,518,508 in 1890; net, $2,697,730, against $1,351,529.
In 1890 gross earnings $15,937,004 (against $15,530,215 in 1889);
met, $6,061,987, against $5,765,943 in 1889; 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 make guaranteed rental), $461,389;
guaranteed minimum rental, $1,360,000; other income, $6,000; divi
dends paid (2 per cent), $1,345,510; surplus, $20,490. Total surplus
-to credit of income account Jan. 1,1891, $2,935,297. (V. 49, p. 341,
0 5 4 ; V. 50, p. 107, 276, 7 0 1 ; V. 51, p. 345, 570; V. 52, p 126, 794.)
Central R a ilro a d & B a n k in g C om pany o f G eorgia.—fSee
Map.)—Owns from Savannah, Ga., to Atlanta, Ga., 294 miles; branch,
Gordon to Milledgeville, 17 miles: leases in perpetuity—Augusta &
Savannah Railroad, 53 miles; Eatonton Branch Railroad, 22 miles;
Southwestern Railroad and branches, 333 m iles; leases till 1985 Mobile
& Girard Railroad, 85 miles; controls by ownership of stock—Savannah
& Western Railroad, 428 miles; Montgomery & Eufaula Railroad, 80
miles; total operated and practically owned June 30,1890,1,312 miles;
Auxiliary system (the earnings of which are reported separately) in
cludes, besides other lines, Western Railroad of Alabama, 138 miles;
Georgia Railroad, 307 m iles; Port Royal & Augusta, 112 miles ¡ Atlanta
& West Point, 87 miles; Port Royal & Western Carolina, 229 miles, and
Savannah Griffin & North Alabama, 60 miles, and embraces in all, 984
miles. Grand total of Central Railroad mileage, 2,296 miles.
In May, 1891, the Chattanooga Rome & Columbus (which see) was
brought into this system, its entire stock being purchased by the Savan
nah & Western. See V. 52, p. 761.
^
The Central Railroad & Banking Company is controlled by the owner
ship of a majority of its stock by the Georgia Company, which in turn is
owned by the Richmond & West Point Terminal, giving that company
control of the Central Georgia system. (See V. 47, p. 499.)
From June 1,1891, leasedfor 99 years to the Georgia Pacific Railroad
Company (whioh in turn is leased to the Richmond & Danville), 7 per
cent yearly and the profits of the Central RR. Bank being guaranteed
on the stock. The Richmond & D anville. and the Richmond Terminal
join with the Georgia Pacific in a bond for $1,000,000 as a guarantee
for the fulfilment of the terms of the lease. See. V. 52, p. 462, 862.
Dividends since 1881—In 1882, 8 per cen t; in 1883, 7 12 ; m 1884,
5*a; in 1885, 4 ; in 1886, 6 ; from 1887 to December, 1890, both inclu
sive, at rate of 8 per cent per annum; in June, 1891, 3*2, and thereaf
ter guarantees 7 per cent per annum.
,,
. .
In 1881 the Georgia RR. was leased for 99 years m the interest of
this company and the Louisville & Nashville, which operate it on
joint account. Owns, jointly with the Georgia RR. Co., the Western 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. 571.
From July 1,1890, to April 30,1891 (10 months), gross earnings were
$7,760,633, against $7,412,243 in 1889-90; net, $1,924,1.49, agmnst
$1,974,277; net, including income from investments, $2,065,829,
against $2,659,890.
^
. TT
Fiscal year ends June 30. President’s report for 1889-90 was m V.
51, p. 713,720.
1887-88.
1888-89.
1889-90.
Expenses....?.......... ........................
» M W « ^ ,1 0 7 ® « , « « $ »
2,801,257 3,316,266 4,367,409
Net earnings railroads............. $2,073,703 $1,791,328 $1,673,526
Net eam’gs steamship companies..
526,201
476,454
423,524
Net bank and investments.............
119,016
169,612
248,116
Total net income of company.. $2,718,920 $2,437,395 $2,345,166
Less interest and rentals................
...........
1,792,105 1,913,173
Excess of inc. over fixed charges..
............
$645,290 $413,993
—(Y. 50, p. 800; V. 51, p.84, 571, 71 3, 72 0; V. 52 p.462, 761,862,939;)
C e n tr a l R R . o f N e w J e r s e y .—('See Map)—Operates 660 miles o f
railroad, of which 156 miles are owned, the remainder being mostly pro
prietary lines or operated under 999-year leases. In addition owns fe r
ries and steamer lines, 21 miles; in all 681 miles.
’•
The principal leased line is the Lehigh & Susquehanna with branches,
202 miles. (See Lehigh Coal & Navigation Co.) The minimum rental of
Lehigh & Susquehanna is $1,885,800 till 1893, and after that $2,043,000. The New York & Long Branch RR. stock and New Jersey South
ern RR. stock are owned by the Central of New Jersey, and their bonds
are included in its debt. A majority of the Lehigh & Wilkesbarre Coal
Co.’s stock is held by Central of New Jersey, and of the $11,500,000
Lehigh & Wilkesbarre Coal consolidated 7 per cent bonds, $6,116,000
are held by Central of New Jersey and receive interest after all other
interest is satisfied. Also owns entire stock of the American Dock &
Improvement Co.
_...
Chartered in 1849. From May, 1873, to Jan. 1,1887, leased to Phil
adelphia & Reading. Receivers were in possession from January 1,
1887, till January, 1888, when the road went back to its owners. The
terms of reorganization, etc., were given in the Chronicle V. 44, p.
714, 716. Dividends were resumed August, 1889, and increased to 1^,
quarterly in August, 1891.
Of the general mortgage of 1887 (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
J. Trustee of consolidated and general mortgages is the Central
rust Company of New York.
4
In June, 1891, $3,727,800 stock was sold at par to stockholders to
provide for expenditures theretofore made for improvements new
equipment, etc. See V. 52, p. 862.
______ * j.
Dividends since 1882: In 1883,1*2 per cent; in 1884, 4*2; in 1 8 8 9 ,3 ;
in 1896, 6; in 1891, February 3, 1*2; May 1 , 1*2; Aug. 1,1%.
Price of stock in 1883, 6844^90; in 1884, 3712,@90; in 1885, 31®52;
in 1886, 4214@64; in 1887,
in 1888, 7312'®95J4; in 1889,
RAILROAD
JlLY, 1891.]
STOCKS
AN D
BONDS.
2 T
Subscribers w i ll confer a great fa v or by g iv in g im m ediate notice o f any error discovered in these T a bles.
Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal, When Due.
DcijLo Size, or
Amount Rate per When Where Payable, and by Stocks—Last
of
Par
of
For explanation of column headings, &e., see notes
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Apr.
2, 1910
6 g. A. & 0.
Charleston Sumter <6North.—1 st M. ,g. ,$15,000 p.m. c 138 1890 $1,000 $2,070,000
N. Y., Fourth Nat. Bank. June 1, 1880
1
2,578,000
100
Charlotte Columbia <&Augusta—Stock.............
Jan.
1,
1895
do
do
J. & J.
7
2,000,000
191 1869 500 &c.
1st mortgage consolidated.............................
Oct 1, 1902
do
do
A. & O.
7
500,000
191 1872
1,000
2d mortgage............................... ............... ,
July
1,
1933"
do
do
6 g. J. & J.
1883
500,000
1,000
Consol, mort., gold, for $3,000,000, seeremarks.c
Jan. 1, 1916k
22 1885 100 &c.
150,000
6 g. J. & J. N. Y., S. Borg & Co.
Chatt. Borne & Col—Rome & Carrol. 1st mort. gold.
2.090.000
1,000
5 g. M. & S. N. Y., Security & Tr. Co. Sept. 1, 193T
1st, gold, guar. $16,000 per mile.......•................ o* 140 1887
Sept., 1937
1887
1.400.000
6
1,000
Income bonds, non-cumulative........ ....................Dec. 1, 1919
1.440.000
1,000
96 1889
Chattanooga Southern—1st M. ($15,000 p. m .). . . .c
6 g- J. & D. N. Y., Central Trust Co. J’y,’05-Jan.’07
N.
Y.,
Farm.
L.
&
Tr.
Co.
J. & ,i.
’85-’ 87 1,000
6
200,000
Chattanooga Union—Union Railway mortgages . J
July 1, 1918
do
do
1888
1,000
400,000
6 g. J. & .1.
Chat. Un. consol, mort. for $600,000, gold.......c
A. & O. Philadelphia, Penn. RR. Oct. 1, 1901
23 1871
1,000
500,000
7
Ohartiers—1st mortgage........ ...................... v -A- •®
5 g. F. & A. N. Y. Office, Mills Bldg. Aug. 15,1937
35 1887
1,000
875,000
Ches.& Nash.—lstM.,g.,$25,000p.m.,s.f.,not d’rn.c*
1, 18981,000
2,287,000
6 g. J. & J. N.Y.,Drexel,Morg.& Co. July
Chesapeake & Ohio—Rurch. money funding bonds, c* 428 1878
July 1, 1908
do
do
2,035,724
1,000
6 g. A. & O.
1st mortgage, gold, series “ A” .......................... - -C* 503 1878
Jan.
1,
1911
do
do
75 1881
1,000
2,000,000
6 g. A. & O.
1st mortgage, gold, of 1911, Peninsular Extens.c*
June 1, 1922'
do
do
6 g. J. & D.
142,000
8 1882 50Ó &c.
1st mort., gold, of 1922, on ext. (for $3,000,000)c*
May
1,
1939
do
do
1,000 22,096,000
1st consol, mortgage for $30,000,000, gold ..c*&r 655 1889
5 g- M. & N.
Jan. 1, 1989
do
do
2-4 g. J. & J.
5,000,000
1,000
Rich. & All 1st consol. M., gold, (See remarks).. .e l 256 1890
Jan. 1, 1989
do
do
1,000,000
256 1890
1,000
4 g. J. & J.
----------. . . . . . .
Do
do
do
Jan. 1, 1989
do
do
J.
J.
&
1,000,000
1890
1,000
256
4 g.
Do 2d consolidated mortgage, gold.................
July 1, 1940
do
do
650,000
1,000
26 1890
5 g. J & J..
Craig Valley branch 1st M., gold........................c
Various.
do
do
Various
507,000
6 g.
Var.
1,000
Equipment trust bonds— ........... ..................... c
do
do
Various
5
346,000
Allegheny Car Trust, Series A, B and C...............
do
do
6
1,018,958
Equipment notes.............................................. -- - 820,000
1,000
1888
4 g. A. & O. N.Y.,Drexel,Morg.& Co. Oct. 1, 1938'
Oct. 1, 1988
Oct. 1.
4
315,000
1,000
1888
Income, 2d mortgage, for $500,000 non-cum.c’1
Ohes. Ohio <£ Southwestern.—
Feb.
1, 1897
N.
Y.,
23
Broad
St.
A.
6 & 8 F. &
500,000
1,000
Paduc. &Eliz.,lstM.,s. f., dr’n at 100($300,000 8s) 186 1877
Aug. 1, 1911do
do
6,176,000
1,000
6 g. F. & A.
1st mortgage, gold ($19,000 per mile)...............o’* 352 1881
Aug.
1, 191P
do
do
F. & A.
6
3,865,000
1,000
352 1881
2d mortgage ($11,000 per mile)............
c
Yearly to 1892
do
do
J. & J.
6
1,000
617,000
1882
Equipment trust bonds for $2,000,000, not dr’n.c11
92%®131; in 1890, 90@12812; in 1891, to July 17, incl., 105J4@122%.
From January 1 to May 31, 1891 (5 months) gross earnings were
$5,254,825, against $4,865,814 in 1890; net, $2,142,077, against
$1,848,622. For first three months of 1891 surplus over fixed charges
was $85,359, against deficit of $89,030.
The report for 1890, in full, was in V. 52, p. 222, 236, 240.
EAKNINGS AND EXPENSES.
1888.
$
Earnings—
Passenger and freight.. . ........... .. 5,398,290
Anthracite c o a l.......................... .. 7,500,653
278,530
Mail, express, e t c .......................
1889.
$
5,899,119
7,344,539
253,736
1890.
$
7,051,524
6,725,696
349,343
Total gross earnings.......... .... 13,177,473
Operating expenses and ta xes.. .. 7,204,068
13,497,394
7,531,737
14,126,563
8,161,276
5,965,657
5,965,287
1889.
1890.
5,965,658
799,238
5,965,288
837,293
322,753
Net earnings............................
5,973,405
INCOME ACCOUNT.
1888.
Receipts—
„ $ ji g
Net earnings..................................
Income from investments............ 1,507,159
Premium account................... .................
$
6,764,896
7,125,334
Total net income.......... ........... 7,480,564
Disbursements—
A)
1,819,815
1,890,381
Rentals paid...................................
2,828,632
2,798,148
Interest on debt........................... . 2,860,314
(4^)835,719 (6)1,117,092
Dividends........................................
5,554,732
5,735,055
Total disbursements............... 4,722,441
1,210,164
1,390,279
Balance, surplus..................... 2,758,123
—(V. 50, p. 139, 259, 2 7 4 , 277; V. 52, p. 222, 2 3 6 , 2 4 0 ,278,761,862.)
C entral o f South C aro lin a.—Owns from Lane, S. C., to Sumter,
S C 40 miles. Leased to the Northeastern and the Wilmington Colum
bia & Augusta RR. companies join tly ; rental $31,000 yearly. Stock
$170,000; par $50. In year ending June 30, 1890, gross earnings,
$115,223; net, $51,158; rental, $31,000; balance to lessees, one-half
each, $20,158.
Central o f V e rm o n t.—This company operates under lease the
following roads; Consolidated RR. of Vermonh-Windsor to Rouse’s
Point, 158 miles; Essex Junction to Burlington, 8 miles; Swanton Junc
tion to Province, 11 miles; Rutland RR.—Bellows Falls to Burlington,
120 miles; Addison R R .—Leicester Junction to Ticonderoga, 15 miles;
Montreal & Vermont Junction—Pro vino« Line to St. Johns, 23 miles;
S. S. & Chambly RR.—S. S. &C. Junction to Waterloo, 43 miles; Ogdensburg & Lake Champlain RR.—Rouse’s Point to Ogdensburg, 118 miles;
New London & Northern RR.—Brattleboro to New London, 121 miles;
Brattleboro & Whitehall RR., 36 miles; Montpelier & White River RR.
13 miles; Burlington & Lamoille RR., 34 miles; Mississquoi Valley RR.
—St. Albans to Richford, Vt., 28 miles; total, 731 miles.
The Central of Vermont was organized in April, 1873, under a charter
from Vermont. It has no road of its own, but operates above mileage
under lease. The Consolidated Railroad of Vermont was organized July
1,1884, embracing the former Vermont Central and Vermont & Canada
properties, and was then leased to the Central Vermont. The stock of
the Consolidated Vermont is $750,000 preferred 6 per cent and $300,000 common. The stock of the Central Vermont is $1,000,000. Com
pany owns $1,612,500 stock of the Ogdensburg & Lake Champlain RR.
In September, 1888, leased the Missisquoi Valley Railroad at 4 per cent
on $500,000 stock, payable January 1 and July 1.- The lease of the
Rutland RR. to the Central Vt. was extended for 999 years from Decem
ber 31,1890, with option to purchase a controlling interest. (See Rut
land and V. 52 p. 41.)
In year ending June 30,1889, gross receipts, $4,780,913; net earn
ings, $1,422,178; balance over rentals, taxes, interest, etc., $57,215.
In 1889-90, on 631 miles, gross!, $5,245,135; net, $1,609,107; charges,
etc., $1,400,041; extraordinary expenditure $204,000; balance, $5,066.
—(V. 47, p. 459; V. 49, p. 6 5 3 ; V. 51, p. 680, 715.)
C e n tr a lia & C h e s te r.—(See Map.)—Chartered to build from Ches
ter, 111., to Altamont, 111., with branch to a point opposite St. Genevieve.
Total distance, 140 miles, including siding. Road completed and in
operation between Sparta and Nashville, 25 miles, and graded between
Nashville and Centralia, 20 miles. At Centralia connection will be
made with the Illinois Central. Steel rails on hand and road to be com
pleted and in operation to Centralia by Sept. 1,1891. Bonds authorwed, $12,000 per mile, covering roadbed, equipment and terminal facil
ities; stock issued and subscribed for like amount. The road is standard
gauge and is being laid with 56-pound steel rails.
C h a r le s t o n C in c in n a t i & C h ic a g o .—(See Map.j—Projected
from Charleston, S. C.,to Ashland, on the Ohio River, of which 175 miles
between Camden, S. C., and Marion, N. C., is now in operation, forming
a through line, in connection with the South Carolina RR.. 290 miles
long, between Charleston, S. C., and Rutherfordton, N. C. Local aid
to the amount of about $1,500,000 was secured in exchange for an
equal amount of stock. In February, 1891, D. H. Chamberlain, re
ceiver of the South Carolina RR., was made receiver.
In June, 1891, a reorganization plan without foreclosure was agreed
to. under which the old bonds will be retired and two series of
new bonds will be executed. Series I for $4,500,000 will be a prior
lien on the property, and will be issued at $12,000 per mile. Of this
amount $2,500,000 bonds are to be issued immediately as follows t
For completing road, $780,000; paying for old and new equipment,.
$561,000; floating debt, $95,000; to provide for interest during con
struction,and other contingencies, $1,064,000. The remaining $2,000,000 can only be issued by the assent of a majority of the second sene»
bonds, and for the purpose of completing a proposed 71 miles of new
road. The second series will be consolidated 5 per cent bonds issued at.
the rate of $35,000 a mile, aggregating about $13,000,000. Of these,
$7,345,000 will be used to exchange for the present bonds, bond fo r
bond, and sufficient reserved to retire the first series, on the cancella
tion of which the consols will become the first lien. The second senes
bonds will have voting power of ten votes for each $1,000 bond. Bee
V. 52, p. 973. Stock, $6,567,000; par value, $100. From January 1
to May 31,1891, gross earnings were $62,366; deficit under expenses,
$11,734. General offices of the conapany, 45 Broadway, N. Y.—(V.,
50, p. 904; V. 51, p. 113, 680, 829, 875 ; V. 52, p. 203, 349, 680, 7 9 5 ,
862, 973.)
Charleston & Sa va n n ah .—Owns from Savannah, Ga.,to Charlesleston Junction, 8. C., 104 miles (except 7 miles trackage), and branch to
Youngs, leased, 6 miles; operates—Ashley River branches, &o., 8 miles;
Charleston Junction to Charleston, 7 m iles; total operated, 125 miles.
This was first the Charleston & Savannah UK.; reorganized in I 860
under name of Savannah & Charleston, and opened March, 1870. Sold
in foreclosure June 7, 1880, and present company organized. Stocky.
$500,000. Gross earnings in 1889, $606,911; net over expenses and
taxes, $124,475; surplus over charges, $38,025. In 1890 gross, $682,740; net, $157,728; surplus over charges, $63,152. Paid 1 ^ per cent
on first incomes in 1889, 2 per cent in 1890 and 6 in 1891. H. B .
Plant, President, New York. (V. 52, p. 590.)
C harleston Sum ter & N orth ern .—Operates from PregnaOIs,.
S. C., to Bennetsville, S. C., 120 miles, and branches, 18 miles. Com
pleted July 6,1891. Connects at Bennetsville with the Cape F e a r *
Yadkin Valley. Formerly the Eutawville Railroad; name changedim
1890. Mortgage trustee is Atlantic Trust Co. of N. Y. Stock author
ized $12,000 per mile; outstanding, $1,380,000; par, $100. President,.
Charles E. Kimball. (V. 51, p. 239.)
Charlotte C olu m bia & A u g u sta .—Owns from Charlotte, N. C._
to Augusta, Ga., 191 m iles; leases Atlantic Tennessee & Ohio Rail
road, Charlotte to Statesville, 44 m iles; Cheraw & Chester, 29 miles*,
and Chester & Lenoir, 109 miles; total operated (including 10 miles of
Western North Carolina), 373 miles. Controlled by Richmond & Dan
ville since 1878, and in May, 1886, leased to that company for n et
earnings. In case of any deficiency in net earnings to pay fixed charge»
the lessee may at its option advance the funds needed to meet the de
ficiency, all such advances to be secured to it by a mortgage lien in
ferior only to that of existing mortgages. The $500,000 first consols
outstanding are guaranteed as to principal and interest by indorsement
by the Richmond & Danville. There was due other companies June 30,
1889, $53,329. Of the stock $1,300,000 was deposited by Richmond &■
West Point Terminal under its collateral trust deed of 1889. Divi
dends in 1888, 4 per cen t; in 1889, 2.
From January’ 1 to June 30, 1891 (6 months), gross earnings were
$470,850, against $441,090 in 1890.
From July 1 to Dec. 31,1890 (6 months), gross earnings were $517,156, against $475,278 in 1889; net $153,447, against $167,301.
In year ending June 30, 1890, gross earnings were $912,560 ; net,
$255,497; deficit after interest and rentals, $12,690.
Chartters.—Owns from Mansfield, Pa., to Washington, Pa., 23 milesSold under foreclosure and reorganized in 1867. Leased for 99 yearsfrom January 1,1872, to the Pittsburg Cincinnati & St. Louis (now
Pittsburg Cincinnati Chicago & St. Louis); the rental is neteamingsIn 1890 gross $266,900; net, $123,106; surplus over fixed charges $99,610; dividends (5*2 per cent), $35,491; balance, $64,118. Capital
stock, $645,300 (par $50), of which the Pennsylvania Railroad owns
$333,850. Dividends since 1880 as follow s: 1881 to 1886, inclusive,
nil; 1887,1888 and 1889, 5 per cent; in 1890, 5^ ; in 1891, April 1 ,3 ^ .
C hattanooga H o m e & C olu m b u s.—Owns from Chattanooga-toCarrollton, 140 miles; branches to ore mines, 36 miles; total, 176 miles.
Successor in 1887 to the Rome & Carrollton Railroad. The stock o f
$2,800,000 (par $100), and all the incomes were purchased in May, 1891,
by the Savannah & West. (Central of Georgia system) which guarantees
by indorsement, the first mortgage bonds of 1887. See V. 52, p. 761,
$150,000 bonds are held to retire same amount of Rome & Carrollton prior fronds. In 1890 gross earnings were $360,84=6; net,.
$156,811. (V. 49, p. 269; V. 50, p. 243, 345; V. 52, p. 280, 761.)
C h attanooga Sou th ern .—Completed in June, 1891, from Chat
tanooga, Tenn., via. Alpine, Ga., to Gadsden, Ala., 86 miles, withbranches, 10 miles. The mortgage is for $2,000,000, but limited in issue
to $15,000 per mile of completed road. Stock authorized ($15,000 per
mile), $2,000,000; outstanding, $1,440,000. (V. 52, p. 973.)
C h attanooga U n io n .—Owns 43 miles of belt railroad in Chattarnooga, Tenn., connecting the ten lines entering that city. In March,
1891, a Boston syndicate bought $800,000 of the company’ s $1,000,00G
stock, and it is said will extend the road to the coal fields at Lookout
Mountain. See V. 52, p. 534. There are also Union Depot bonds, inter
est J. & J. From Jan. 1 to May 31, 1891 (5 months), gross earning»
were $39,767, against $43,394 in 1890; net, $11,827, against $15,582.
INVESTORS’
38
M A P OP
CHARLESTON, CINCINNATI
AND
CHICAGO
RAILROAD AND CONNECTIONS.
'
SUPPLEMENT,
[Vol. LIII,
July, 1891.]
RAILKOAD
STOCKS
AN D
BONDS.
29
Subscribers w i l l confer a great fa v or by g iv in g Im m ed iate notice o f any error discovered In tbese Tables.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
of
For explanation of column headings, &c., see notes
Outstanding Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
Chicago & Alton—Common stock.......- - .........------ ;
Preferred stock (7 per cent yearly not cumulative)
1st mortgage........................ . — icAx'ixk.............
General mortgage, sterling, for £900,000. ------Joliet & Chic., 7 p.c. stock,perpet.,guar, by C.&A.
St. Louis Jacksonville & Chic., 1st M., assumed..
1st mortgage, endorsed by Chicago & Alton—
2d mortgage, endorsed by Chicago & Alton—
2d mortgage, assumed (convertible) . . . . . . . . ---Louisiana & Mo., guaranteed preferred stock....
1st mort. ($439,100 assumed by Chic. & Alton)
2d mort. (interest guaranteed Chicago & Alton)
S.f.bonds for K.C.St.L.&C. (IstM.as collat.)notdr’n
Pref. stock Kansas City St. L. & C., guaranteed .
Miss. River Bridge, stock (7 per ct. guar. (C.& A )..
lstmortgage, assumed, g. sink, fund, dr’n atlOO.
Chicago Burl. <&Northern—1st M., s.f., red. at 105. c
2d M. ($10,000 p. m.) red. after May 3 1 ,1 8 9 8 ..c*
Ten-year debentures.......................................... - c
Equip. M.,red. at 105; after’93 lOp.c.dr.y’lylOO.c*
Chicago Burlington <6 Quincy—Stock.......................*
Chic. Burl. & Quincy consol, m ortgage.............
Plain bonds............. ............................... i - c v 0*
Sinking fund bonds, (1st M. as coll.) not dr n .c
Sink, fund bonds (1st M. as coll.) not dr’n .c &r
Burl. & Mo. Riv. (in Iowa) 1st M.lgr.s.f.,not dr’n.c*
1st mortgage convertible bonds...............--- - -c
Ch. Burl. & Q. Iowa Div., s. f. 5s, drawn at 105.. >
Iowa Div., s. f. mortgage4s, drawn at 100.c&r(
Sink, fund 4s (for B. & S. W.) drawn at 100. c&r’
Denver extern (collat. tr.) b’ds, s.f. dr’n at lOO.c
220
322
38
150
37
37
150
101
101
101
162
162
363
363
1862
1873
1864
1864
1868
1868
1870
1877
1878
1877
1886
1888
1886
1888
1873
1871
33 1875
286 1876
278 1863
40 ’ 69-’70
1879
787 )(1879
1881
415 1881
820
14.115.000
3.479.500
2.383.000
4,379,850
$1,500,000
2.365.000
564.000
188.000
42.000
329,100
1.725.000
300.000
2.149.000
1.750.000
300.000
620.000
1,000
8.710.500
500 &c.
2.215.000
1,000
935.000
1,000
940.000
1,000
100 76,394,505
17.500.000
1,000
547,500
1,000
348.000
1,000
2.316.000
1,000
4.126.500
50 &c.
66.000
500 &c.
2.892.000
1,000
8.579.000
1,000
4.300.000
1,000
7.968.000
1,000
100
100
1,000
1,000
$100
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
100
Q .-M . ( N. Y., John Paton & >
Q .-M . ( Co. & Chic. Tr. Office. 5
J. & J. N. Y., John Paton & Co.
J. & J. Lond’n,J.S.Morgan&Co.
N. Y., U. S. Trust Co.
Q .-J .
A. & O. N. Y., John Paton & Co.
.do
do
A. & O.
do
do
J. & J.
do
do
J. & J.
do
do
F. & A.
do
do
F. & A.
7
do
do
M. & N.
7
do
do
6 g. M. & N.
do
do
Q .-F .
lHs
Chic.,
Treasurer’s
Office
3^2 J. & J.
A. & O. N. Y., John Paton & Co.
Î * A. & O. N.Y., F.L. &T. Co. & Bost.
do
do
J. & D.
6
do
do
J. & D.
6
do
do
F. & A.
7
Q .-M . N. Y., Boston and Chic.
1
J. & J. N.Y., Bk.of Com.& Bost.
7
do
do
J. & J.
7
J. & D. Boston, Co.’s Office.
5
A. & O. N.Y., Bk.of Com.& Bost.
5
A. & O. N.Y., F.L. &T.CO.&Bost.
7
J ..& J. Boston, Co.’ s Office.
8
A. & O. N.Y., Bk.of Com.& Bost,
5
do
do
A. & O.
4
do
do
M. & S.
4
do
do
F. & A.
4
2
2
7
6 g.
1%
7
7
7
7
June 1, 1891
June 1, 1891
Jan. 1, 1893
July 1, 1903
July, 1891
Apr. 1, 1894
Apr. 1, 1894
July 1, 1898
July 1, 1898
Aug. 1, 1891
Aug. 1, 1900
Nov. 1, 1900
May 1, 1903
May 1, 1891
July, 1891
Oct. 1, 1912
Apr. 1, 1926
June 1, 1918
Dec. 1, 1896
Feb. 1, 1903
June 15, 1891
July 1, 1903
Jan. 1, 1896
June 1, 1895
Oct. 1, 1901
Oct. 1, 1893
July 1, 1894
Oct. 1, 1910
Oct. 1, 1910
Sept. 1, 1921
Feb. 1, 1922
Chesapeake & N ash v ille.—Road owned from Gallatin to Scotts- there was due the Newport News & Mississippi Valley Co. (as per that
report) $935,429.
ville, Tenn., 35 miles, and branch, Gallatin to Hartsville, 12 miles, in company’s
From January 1 to May 31, 1891 (5 months), gross earnings on
progress. On December 8,1890, Gen. John Echols was appointed re
398
miles
were
$908,439, against $778,460 on 398 miles in 1890; net,.
ceiver. See Y. 51, p. 829. Stock, $1,050,000; par, $100.
$245,753, against $274,832.
'
,
*
,
.
The
annual
report
in V. 52, p. 569, showed the following. A cyclone
Chesapeake & O h io .—(See Map.)—Owns Old Point Comfort, Va.,
via Newport News and Charlottesville, to Big Sandy River, West Vir in 1890 cost the company heavily. See report.
1890
1889.
1887.
1888.
ginia, 511 m iles; Richmond to Clifton Forge, 231 m iles; branches to
$
$
$
$
Lexington, &c., 93 miles; leases, Buckingham RR., New Canton to Ar............. 2,001,723 2,005,168 2,134,195 2,161,685
von, 4 miles; Valley RR. connection, 2 miles; Gordonsville to Orange Gross earnings
(Virg. Midland), 9 m iles; trackage (Elizabeth Lexington & Big Sandy), Net receipts........................ .. 821,863
828,512
927,039
745,710
Big Sandy River to Ashland, 8 miles (Virginia Midland and Washing Rentals, taxes, int’est, &c. 715,872
868,979
866.216 _______
I_
826,872
ton Southern); Orange to Washington, 86 miles. Also controls and
operates the Maysville & Big Sandy Railroad (Ashland to Covington,
Balance.........................su. 105,991 def. 81,162 sur. 60,823 def.40,467
Ky., 143 miles) and bridge between Covington and Cincinnati; total,
992 miles, of which 32 miles are double track. The extension to Cin —(V. 50, p. 5 1 8 ; V. 52, p. 569', 718.)
C h ic a g o & A l t o n .—L ine op R oad —Joliet to East St. Louis
cinnati was opened January, 1889.
(main), 244 miles; Branches—To Coal City, 30 miles; Dwight to Wash
Org an ization , &c .—The former Chesapeake & Ohio was sold in fore ington and Lacon, 80 miles; Roodhouse to Louisiana, 38 miles; Upper
closure April 2,1878, and this company organized. Interest having Alton line, 8 miles. Total owned, 400 miles. Leased—Chicago to
been defaulted on, a receiver was appointed October 28,1887. In 1888, Joliet, 37 m iles; Bloomington to Godfrey, 150 m iles; Louisiana to Cedar
under the direction of Drexel, Morgan & Co., the company was reor City, 101 miles; Kansas City to Mexico, 162 miles. Total leased, 45<>
ganized without foreclosure, and the road extended to Cincinnati. The miles. Total operated, December 31,1890, 849 miles.
consolidation, witli tlie Riclnnond & Allegheny, which had been operated
Org an ization , L eases , Stocks and B onds .—Chartered as the Chicago
under a temporary arrangement since September, 1888, was consum
mated in January, 1890. In 1891, by an arrangement with the Rich & Mississippi February 27,1847; reorganized under act of January 21,
mond & Danville, the right was secured to run trains into Washington, 1857, as Chicago Alton & St. Louis, and under act of February 16,1861,
the present corporation succeeded to the property, which was sold
D. C , over the Virginia Midland. See V. 51, p. 829.
Until January 1,1894, the voting power and control of the company under foreclosure in the following year and transferred to new organi
remains with three trustees, viz.: J. Pierpont Morgan^ John Crosby zation in October, 1862. Fiscal year ends December 31. The annual
Brown and George Bliss. In July, 1889, a controlling interest in the meeting is held the first Monday in April.
The Joliet & Chicago is leased from January 1,1864, for the term or
stock was purchased by the parties interested in Cleveland Cincinnati
its charter, and forms part of the main line. Rental, 7 per cent on
Chicago & St. Louis, known as the “ Big Four.*’
stock.
The Louisiana & Missouri River RR. is leased for 1,000 years.
Stock and B onds .—The stock is $46,000,000 common, $13,000,000
1st preferred 5 per cent non-cumulative and $12,000,000 2d preferred Rental, 35 per cent of gross earnings, after taxes, &c., have been
deducted from them, but interest guaranteed on second mortgage bonds
P r ic e d common stock (since reorganization in 1888): In 1889, 151« and $329,100 preferred stock; other pref. stock is $1,010,000 and com
mon $2,272,700; rental in 1890, $139,469, against $156,486 in 1889.
@28; in 1 8 9 0,14:ia@27;ls ; in 1891, to July 17, inclusive, 15%@1978The Kansas City St. Louis & Chicago is leased in perpetuity from
Price of first preferred stock: In 1889,5612@6912; in 1890, 36@66% ;
November 1,1877, at a rental of 35 per cent of gross earnings—rental
______ „ ^
in 1891, to July 17 inclusive, 44@54]4.
$335,991
in 1889. Its bonds are held by the United States Trust Co. as
Price of second preferred: In 1889, 291a@4618 ; in 1890, 2312@4618 ; security for
the Chicago & Alton bonds of 1878 issued^ to build this
in 1891, to July 17 inclusive, 2614@3412.
road,
and
a sinking fund of $60,000 per annum provided for their
The consolidated mortgage, due in 1939, is for $30,000,000 (trustee
of mortgage, Central Trust Co.), and sufficient bonds are reserved to redemption. Should the 35 per cent be more than sufficient to pay
provide for prior liens, the balance being held in the treasury for use as interest, quarterly dividends and 7 per cent on the common stock, the
needed. This mortgage is also secured by deposit in trust of the $11,- excess is to go to the lessees. Common stock, $271,700, of which $157,000,000 bonds and two-thirds of the stock of the Maysville &Big Sandy 600 is owned by the Chicago & Alton. The Mississippi River Bridge is
RR., Ashland to Covington, Ky., and the Bridge to Cincinnati, all owned leased in perpetuity from December 3,1877, at 7 per cent on $300,000
by the Chesapeake & Ohio RR. Co. (See abstract of mortgage in stock (aU owned by Chicago & Alton) and 6 per cent on bonds.
The Chicago & Alton preferred stock has prior right to a non-cumula
Ch ro nicle , V. 49, p. 147.)
_... •
■
. ,
The first consolidated mortgage on the Richmond & Allegheny division tive dividend not exceeding 7 per cent from net earnings and (after
pavment
of 7 on common) also shares with common in any surplus.
is for $6,000,000 bonds, of which $1,000,000 are 4 per cents, and the
Dividends since 1876: In 1877, both stocks, 7*2; in 1878, both 7 ; m
balance carry 2 per cent interest till January, 1894, and thereafter 4
1879,
preferred
7, common 6; in 1880, preferred 7, common
m
percent. The second consols bore 3 per cent till January, 1891, and
thereafter 4 per cent. The Central Trust Co. and Henry T. Wickham are 1881, both 8; in 1882, both 8; in 1883, both 8 ; in 1884, both 10; from
1885
to
June,
1891,
both
inclusive,
both
8
(2
per
cent
quarterly.)
the trustees under both deeds of trust. (See abstracts of mortgages, V.
Price of common stock: In 1881, 127@156; in 1882, 127^@ 145*2;
^Tlmre^are also $26,897 series B 6s, due in 1908; $170,000 New River in 18 8 3,128@13714; in 1 884,118@14014; in 1 8 8 5,128@ 140; m 1886,.
138@146; in 1 887,130@155; in 1 888,132@ 140*2; in 1889, 125@140;
bridge bonds, due in 1898.
?
•„ v
.
, .
Oper atio n s , F inances , &c .—The annual fixed charges for rentals, in 1 890,123@135; in 1891, to July 17 inclusive, 123@130.
Operations and F inances .—The Chicago & Alton Road has been par
interest and taxes in year 1890-91 will be about $2,000,000.
From July 1,1890, to May 31,1891 (11 months), the gross earnings ticularly strong in having a large local business between Chicago ana
were $7,446,247, against $6,556,908 in 1889-90; net, $2,035,456, St. Louis, so that it was less dependent on through business, which isdone at competitive rates. Its leased lines are as completely controlled
against $1,645,807, the mileage being 933 miles, against 931miles.
Fiscal year ends June 30. Report for 1889-90 was m V. 51, p. 274, as if owned, and the system is compact.
and showed the follow ing; in 1889-90 very considerable expenditures
On the Louisiana & Missouri River Divison (100 miles), from January
for new construction, etc., were charged to operating expenses, thus 1 to February 28, 1891 (2 months), gross earnings were $58,284,
against $67,412 in 1890.
i
reducing net earnings:
1888.89.
i 889-90.
Fiscal year ends December 31. Annual report for 1890 was m V. 52,
$
$
p. 349, and the President’s remarks at length in V. 52, p. 352.
Gross earnings......................................................- •
on
INCOME ACCOUNT.
Operating expenses................ -.............................. 4,165,000
*>,455,127
1890.
1889.
1888.
1887.
$
$
Receipts—
$
Net earnings...................................................... 1,025,000
1,706,822 Total gross earnings. 8,941,386
7.065.754
7,516,617
7,511,465
Interest and taxes about....................................... ^ - ------ ■ __ L^oOjUUU
2.683.754
2,944,881
2,843,380
—(V. 49, P. 21, 113,147, 269, 539; V. 50, p. 138, 243, 377, 390,422, Net earnings...............3,671,183
273,497
273,875
273,252
269,239
451, 834; V. 51, p. 144, 274, 829,910; V. 52, p. 390; V. 53, p. 58,59,97.) Other receipts...........
3,116,632
3,218,756
2,957,251
Chesapeake Ohio & Sou th w estern .—Louisville, Ky., to Mem
Total.................
3,940,422
phis, Tenn., 392 miles, and branch Elizabethtown to Cecilian Junction,
Disbursements—
665,455
669,478
652,411
6 miles, 398 m iles; of which is leased from Louisville & Nashville their Rentals paid............. 710,608
531,542
159,810
184,271
Cecilian branch, 46 miles. Also will operate the Ohio Valley Ry., Prince Construe., equip., &c. 657,444
825,658
823,495
816,161
ton to Evansville, Ky., and branches, 110 miles. Successor to the Mem Interest on debt........ 831,031
1,407,608
1,407,712
1,407,560
phis Paducah & Northern, which was sold in foreclosure in 1881, and Dividends................... 1,407,644
106,924
38,059
189,227
merged with the Paducah & Elizabethtown. In February, 1886, leased Miscellaneous...........
92,672
to the Newport News & Mississippi Valley Co. for fifty years, rental to
Total disbursem’ts. 3,699,399
3,537,187
3,098.554
3,249,630
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 Ches. Balance................... sur. 241,023 df. 420,555 sur. 120,202 def.292,37 »
Ohio & Southwestern guaranteeing its bonds. See V. 52, p. 321 718.
—(V. 49, p. 100, 580 ; V. 50, p. 295, 3 1 1 , 3 1 5 ; V. 51, p. 171 ; V. 52,
Stock—Common, $6,030,600, and preferred, $3,696,000 ($164,000 ad
ditional unissued), of which the Newport News & Mississippi Valley Co. p 319, 3 3 5 , 3 4 9 , 3 5 2 )
Chicago & A tla n tic .—8 ee Chicago & E r ie .
owns $5,708,700 common and $3,511,600 preferred. January 1,1891.
INVESTORS’ SUPPLEMENT.
[Y ol. LIU.
BORDS
AR D
STOCKS
RAILROAD
J*LY, 1891.J
32
INVESTORS’
SUPPLEMFN T.
[Y ol. L in .
Subscribers w ill confer a great tavor by g iv in g im m ediate notice o f any error discovered in tbese Tables.
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per When
For explanation of column headings, &c., see nc tes of
of
Par
Where Payable, and by Stocks—Last
Outstanding
on first page of tables.
Road Bonds Value.
Cent. Payable
Whom.
Dividend.
Chicago Burlington <&Quincy—( Concluded.)—
Ch. Burl. & Q. Deb. 5s, 1913 for Han. & St. Jo stk.c
Nebraska ext., $20,000 p. m. (s. f., not dr’n).c*«fer 1,432
Convertible debentures (See remarks)...............
B’rl.&Mo.RR.inNeb.con.M.l.gr.,s.f.dr’n a t 100..>
561
Do
do
do
exempt (Seeremarks)___$
Burl. & Mo. RR. inNeb., s. f. for At.&Neb.RR.st’k ..
Quincy Alton & St. L. (leased) 1st mortgage___c* '4 6
Repub.Yal. R .,lst M.g.,(dr. at 100) s.f., $14,000. ..e
90
1883
1887
1890
5 1878
( 1878
1880
1876
1879
Ottawa Oswego & Fox River, 1st mortgage___c*
Omaha & S. W., 1st mortgage, guaranteed........ c*
Nebraska Railway consolidated mort, guar......... c
Atcli. & Neb., 1st M.,At. to Lin. ,Neb. ,and br. ,gu... c*
2d mort. on Atch. & Neb. RR. (1st M. on bridge)
Linc’n & N.W. RR.lstM . guar., s.f.l p.c., not dr’n ..
Chic. & Bast. Illinois—Preferred stock, 6 per cen t..
1st mort. (s. f. $20,000 after 1885, no drawings) c*
Danville & Grape Creek RR.—1st mortgage___c*
Strawn & Ind State Line bonds, assumed, s. f..c*
Chicago & East Illinois extension, 1st mort___e*
Consol, mortgage, gold (for $6,000,000) s. f .......c*
Collateral trust bonds, sinking fund...................e*
General consolidated mortgage......................... c&r
Chic. & Indiana Coal—1st M. ($25,000 per mile.c*
Chic. <£Brie—1st M. for $12,000,000 g., mt. guar.c*
Income bonds for $10,000,000 non-cumulative ..
Terminal 1st mortgage, int. 4 p. c. till July, 1893.
1870
1,000
1,076,000
8
1871
1,000
669,000
8
1877
1,000
349,000
7
1878 100 <fec.
1,125,000
7
1887
901,280
6
1880
600,000
7
io'o
4,830,700
1*3
1877 100 «fee. 2,989,000
6
1880
1,000
119,000
6
1881
1,000
150,000
6
1881
1,000
103,000
6
1884
1,000
2,725,000
6 g.
1887
1,000
42,000
6 g.
1887 l , 000«fcc 4,197,000
5
1886
1,000
4,402,000
5
1890
1,000 10,637,000 4 to 5 g.
1890 l , 000<fcc 10,000,000
5
1888
300,000 4 to 5
Contingent l ia b il it ie s f o b b ran ch r o a d s :
70
49
132
148
148
73
Ï07
7
13
15
208
277
172
249
249
$1,000 $9,000,000
1,000«fee 27,892,000
100 «fee. 7,639,200
ÖOO &c.
7,885,000
600 «fee. 5,000,000
1,000
3,347,000
1,000
840,000
600 &c.
1,065,600
Chicago B u rlin g to n & N orth ern .—Owns from Oregon, 111.,
to St. Paul, Minn., 332 miles; Fulton to Savanna, 111., 17 miles; branches
14 miles; total, 363 miles. Completed Aug., 1886. In 1890 $9,068,500
of the $9,289,500 stock (par, $100), was purchased at 40 by Chicago
Burlington & Quincy. (See Y. 50, p. 390.) The Chicago Burlington &
Quincy and Chicago & Iowa give a traffic guarantee for twenty years of
one-half of their net earnings derived from business to and from the
Chicago Burlington & Northern (to be not less than $100,000 per year)
for the retirement of Chicago Burlington & Northern firsts at 105; and
after March 31,1896, the whole issue may be retired at 105.
From January 1 to March 31, 1891 (3 months), gross earnings were
$483,808, against $462,071 in 1890; net, $185,561, against $170,437.
In 1889 gross earnings were $1,971,159; net, $742,495; deficit under
charges, $126,769. In 1890, gross, $2,115,442; net, $876,855; inter
est $692,700; rentals, etc., $106,001; surplus, $213. (V. 49, p. 2 3 4 ;
V. 50, p. 243, 390; V. 51, p. 715 ; V. 52, p. 641.)
Chicago B u rlin g to n & Q u in c y .—(See Map.) - L ine of R o ad .—
Main line from Chicago, 111., via Burlington, Iowa, and Pacific Junction,
to Denver, 1,028 miles. Also has line in Illinois to East St. Louis and to
Quincy, connecting with the Hannibal & St. J oseph Road (purchased by the
Chicago Burlington & Quincy in 1883), across Missouri to St. Joseph.
The mileage reported Jan. 1, 1891, was 5,216, of which 158 miles
were leased or operated with other companies. In addition to this the
company controls and largely owns the St. Louis Keokuk & North West
ern road, 218 miles (of which 41 miles are leased or operated jointly
with other companies); the Kansas City St. Joseph & Council Bluffs,
313 miles (3 miles leased or operated jointly with other companies);
the Chicago Burlington & Kansas City, 220 miles (39 miles leased
or operated jointly with other companies); the Chicago Burlington &
Northern, 363 miles, and a half-interest with Wabash in the Humeston
& Shenandoah, 95 miles.
Org an ization , &c.—This was a consolidation in July, 1875, of the
Chicago Burlington «fe Quincy in Illinois and the Burlington <fe Missouri
River in Iowa. In 1880 the Burlington & Missouri In Nebraska was
absorbed. The leased lines are practically owned and there is no charge
for rentals in the income account, except as interest on bonds. The
ownership in the other roads above-mentioned is in the stocks and
bonds thereof, and their accounts are kept separate. In August, 1885,
the agreement was made with the Chicago Burlington <fe Northern for
the line to St. Paul, but the Chicago Burlington <fe Quincy owned $3,097.500 only of the stock of that company until March, 1890, when a
controlling interest was purchased. Fiscal year ends December 31.
Annual election in May.
The lands have been mostly sold, but 75,700 acres remaining; land
notes outstanding, including interest payable, amount to $724,760.
Stocks and B onds .—The stock has been increased for the acquisition
o f new lines, and in 1880 a distribution of 20 per cent was made.
Dividends—In 1877, 9 per cent; in 1878, 10*s; in 1879, 8 ; in 1880
9*4 cash and 20 stock; from 1881 to 1887 inclusive, 8 ; in 1888, 5 in
1889, 4; in 1890, 5; in 1891, March 1 6,1; June 15,1.
Price of stock—In 1 881,133*s® 182*2; in 1882,120%® 141; in 1883
115%@12938; in 1884, 107® 127%; in 1885, 115*2® 138*2; in 1886
128%® 141; in 1887, 1237s®156; in 18 8 8,103%@130*2; in 1889, 897s
@ 111*2 : in 1890, 80@111*2; in 1891, to July 17 inclusive, 75%®93%.
Included in the amount of bonds outstanding m the table above are
the following which, with other bonds (the whole representing a
cost of $13,813,935) were on January 1,1891, held alive and drawing
interest for account of the various sinking funds; Chicago Burlington
& Quincy 4s of 1881, due 1921, $526,000; Denver extension 4s, due
1922, $879,200; Burlington <&Missouri in Nebraska 4s of 1880 $985 000; Republican Valley 6s of 1879, $205,200; Burlington <fe Missouri
in Nebraska consolidated 6s of 1878, $5,281,200; but only $2,870,200
Of this last amount in the sinking fund for the issue itself. January 1
1891, the sinking fund of the Burlington & Missouri (in Iowa) land grant
7s of 1863 held sundry bonds costing $8,358,080, and $18,655 cash.
The consolidated mortgage 7s of 1873 aré a first mortgage except
for $1,076,000 Ottawa Oswego <fe Fox River bonds. The Iowa Division
sinking fund bonds are a lien on the main line in Iowa from Burlington
to East Plattsmouth on the Missouri River, 279 miles, and on 16
branches having an aggregate length of 511 miles. The only prior
liens are the Burlington & Missouri River Railroad in Iowa bonds to a
total of $4,192,500. The Chicago Burlington <fe Quincy Iowa bonds
have a sinking fund of 1*2 per cent ($203,800) yearly, for which the 4s
are subject to call at 100, the 5s at 105. The Denver Extension bonds are
secured by deposit with the trustee of first mortgage 5 per cent bonds
(limited to $20,000 per mile of main track and $10,000 per mile of sec
ond track) upon about 400 miles ofroad, representing five different
lines, of which the most important is that from Colorado State line
westerly to Denver, 175 miles. They have a sinking fund of 1 per cent
for which they are subject to call at 100.
The collateral trust Nebraska extension bonds of 1887 (New England
Trust Co., o f Massachusetts, trustee) are issued at $20,000 per mile for
single track and $10,000 per mile additional for second track. See
abstract of mortgage in V. 45, p. 441.
The 5 per cent debentures issued in 1890 are convertible into stock at
any time prior to December 1,1902. (See Y. 50, p. 622.)
Many of the bonds are redeemable (may be drawn) before maturity at
various prices, plus accrued interest, as stated in the table above. The
Burlington <fc Missouri in Nebraska 6s, due in 1918, are redeemable at
100, but this for the “ exem pt” bonds applies only after 1908.
5
4
5
6
6
4
5
6
M.
M.
M.
J.
J.
J.
F.
J.
& N. N.Y., Bk.of Com.& Bost.
& N.
do
do
<& S. Boston Office and N. Y.
<fe J. Boston, Bk. of Com’rce.
<fc J.
do
do
<& J.
do
do
& A. N. Y., F.L.&T.CO.& Bost.
& J. Boston, Bk. of Com’rce.
J.
J.
A.
M.
J.
J.
& J. N.Y., F.L.&T.CO.& Bost.
<fe D. Boston, Co.’ s Office.
& O.
<& S. Boston, Bk. of Com’rce.
<fe D.
’ Boston.
& J. Boston, Co.’s Office.
N.Y., Hanover Nat. B’k
J. (fe D. N. Y. ,4th Nat.Bk. & Bost.
M. & N. Boston, Globe Nat. Bk.
J. <& J. N. Y., Central Trust Co.
J. & D. N. Y ., Fourth Nat. Bank.
A. <fe O. N. Y., Central Trust Co.
F. & A.
do
do
M. & N.
do
do
J. & J. N. Y., Met.* Trust Co.
M. & N.
New York.
Oct. 1.
N. Y., when earned.
J. & J. N. Y. ,Drexel,Morg. & Co.
May
May
Sept.
July
July
Jan.
Feb.
July
1,
1,
1,
1,
1,
1,
1,
1,
1913
1927
1903
1918
1918
1910
1896
1919
July 1, 1900
June 1, 1896
Oct. 1, 1896
Mch. 1, 1908
Dec. 1, 1927
Jan. 1. 1910
July 1, 1891
Dec. 1, 1907
May 1, 1920
Oct. 1, 1921
Dec. 1, 1931
Oct. 1, 1934
Feb. 1, 1912
Nov. 1, 1937
Jan. 1, 1936
May 1, 1982
Oct. 1, 1982
July, 1918
Operations and F inances .—The Chicago Burlington <& Quincy RR*
has been one of the most profitable in the country, as its numerous
branches tributary to the main line were built into choice agricultural
territory, where they enjoyed a monopoly of the local business at full
rates. The company for many years paid 10 per cent, then 8 per cent,
and since 1887 smaller dividends, owing to the increased competition
and lower rates and the extension of roads in the far West.
The gross and net monthly earnings below include the returns of
auxiliary lines, which in the yearly income account appear only under
“ interest received.”
From January 1 to May 31,1891 (5 months), gross earnings, include
ing lines controlled, were $12,160,388, against $14,196,441 in 1890;
net, $4,068,538, against $4,848,695 ; charges, $3,960,000, against $3,807,578 ¡ surplus, $108,538, against surplus of $9s i,117 in 1890. (See
V. 52, p. 657.)
The annual report for 1890 was published at much length in the
Chro nicle , V. 52, p. 569-572. Earnings have been as follow s:
OPERATIONS AND FISCAL RESULTS.
Operations—
1887.
1888.
1889.
1890.
4,693
4,917
Miles operated........
5,140
5,216
Pas’g’rs car. one m*.....................................
268,778,494 292,535,186
Tons car. one mile...................................... 1,752,248,595 1,978,896,694
EUmings—
$
$
$
Passenger............... 6,629,859 6,146,121
6,223,510
6,369,646
Freight.......... .........18,675,655 15,484,035
18,843,104
18,190,818
Mail, express, «fee... 2,270,564 2,159,011
2,363,985
2,513,217
Total gross earns.. .27,576,078 23,789,167
Oper. exp. <fetaxes.. 16,097,913 18,882,460
26,778,313
17,690,547
27,725,967
18,749,699
Net earnings......... 11,478,165 4,906,707
P. c., op. ex. to earn.
58‘38
79-37
9,087,766
6606
8,976,268
6762
* Not including those carried on mileage or season tickets.
INCOME ACCOUNT.
1887,
1888.
1889.
Net earnings.......1.11,478,165 4,906,707
Interest & exch’ge.
859,055
169,601
NetB. <feM. landgr.
567,083
408,555
9,087,766
672,863
291,443
1890.
$
8,976,268
806,035
178,455
.12,904,303 5,484,863
10,052,072
9,960,758
192,119
5,425,611
3,055,704
4
744,472
206,078
5,491,992
3,819,630
5
745,492
T ?.p p p in f< i __
Disbursements—
$
.
198,168
193,709
4,587,762 5,111,527
, 6,111,064 3,819,578
8
5
Carried to sink’g f’d.
500,154
691,474
m
Total disb’sem’ts .11,397,148 9,816,288
9,417,906
10,263,192
Balance, surplus... 1,507,155df.4,331,425 sur.634,166 def. 302,434
—(V. 50, p. 4 6 7 , 4 8 0 , 482, 4 8 5 , 622, 703, 875; V. 51, p. 20, 142, 276,
909; V. 52, p. 126, 204, 296, 321, 549, 56 9, 57 2, 574, 643, 657, 938.)
Chicago & E astern Illin o is .—(See Map.)—Owns from Dolton,
HI., to Danville, 111., 107 miles; second main track, Dolton to Momence,
33 miles; Danville to Tuscola, 50 miles; Momence to Indiana State line
function with the Chicago <& Indiana Coal), 11 miles; Wellington
Junction to Cissna Park, 11 miles. Proprietary lines—Chicago & In
diana Coal Railway, Brazil to La Crosse, Ind., 145 miles, and branches,
26 miles. Leases Evansville Terre Haute <fe Chicago Railroad, Danville,
HI., to Otter Creek Junction, Ind., 49 miles; Indiana Block Coal Rail
road, Otter Creek Junction to Brazil, Ind., 13 miles. Trackage—Otter
Creek Junction to Terre Haute, Ind.. (Ev. <fc T. H.) 6 miles; Dolton to
Chicago (C. <fe W. I.), 17 miles. Total operated, (including 33 miles
second mam track) 469 miles.
In January, 1890, a ten-year traffic contract was made with the
Evansville & Terre Haute for the operation of a through line between
Chicago and Evansville.
The Chicago <fe East Illinois was chartered as Chicago Danville <fe
Vincennes in 1865, and opened in 1872 and 1873. Sold under fore
closure February 7,1877, and reorganized under existing title Septem
ber 1,1877. In February, 1889, made an exchange of stock with the
Chicago <fc Indiana Coal Railway, whose stock is now held as an asset in
the company’s treasury. See Ch ronicle , V. 46, p. 134, V. 48, p. 334
for status as given in applications to the Stock Exchange.
Under the terms of leases the Chicago <fc East Illinois guarantees
interest on $1,400,000 bonds of leased roads. There are also $64,000
second mortgage incomes, due 1907, outstanding. Owns control of
Evansville Terre Haute <fe Chicago Railroad and also owns $1,000,000
stock of the Chicago <&Western Indiana—which see.
The general consolidated mortgage of 1887 (trustee, Central Trust
Company) provides for the retirement of $8,000,000 prior bonds and
for issue of bonds on new road at $18,000 per mile for single track,
$7,000 per mile additional for equipment and $8,000 per mile for double
track.
Chicago <fcIndiana Coal first mortgage of 1886 (trustees, Metropolitan
Trust Company and R. B. F. Pierce) is for $1,000,000 on road from
Yeddo to _Brazil and $25,000 per mile ($7,000 of this for equipment)
for extensions; second track, $8,000 per mile.
Common stock is $6,197,800; par, $100.
J uly , 1891.]
BAJLROAD
STOCKS
AND
BONDS.
33
34
INVESTORS’ SUPPLEMENT.
[V ol . LIII.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f a n y error discovered in tbese T a bles.
RAILROADS.
Bonds—Princi
INTEREST OF DIVIDENDS.
Miles Date Size, or
.„
pal, When Due.
P^j.
Amount Rate per
For explanation of column headings, &c., see notes of
of
When Where Payable , and by Stocks—Last
Value.
Outstanding
on first page of tables.
Road. Bonds
Cent. Payable
Whom.
Dividend.
Chicago & Grand Trunk—Northwest Gr. T’nk.,lstM
66 1880 $500&e,
$558,000
6
; 1st mortgage for $6,000,000.................................... 327 1880 £100 &c
5.442.000
6 g.
2d mortgage, $ and £ .......................................e&r 327 1882
1,000
6 , 000,000
5
Chicago Milwaukee & St. Paul—Common stock.......
100 46,027,261
2%
Preferred stock (7 per cent yearly .mot cumulative
100 22,198,900
3%
Mil. & St. Paul, Lacrosse Div. 1st M., convert, .c* 392 1863
1,000
4.623.000
7
Minnesota Central 1st M. (Minneap. to Owat.). c*
49 1864
1,000
123.000
7
Iowa & Minn. 1st M. convert, into pf. stock..c* 230 1867
1,000
3.198.000
7
Prairie du Chien 1st M. (Mil. to Pr. du Chien) .c* 195 1868
1,000
3.674.000
8
2d mortgage, convertible into pref. stock . .c* 195 1868
1,000
1.239.000
7-3
Iow a & Dakota 1st M., conv. into pref. stock. .*c 126 1869
1,000
541.000
7
River Div. (St.P.&C.) IstM . conv. intopf. stk.c* 130 1872 $ & £
3.804.500
7 g.
Chic. & Mil. 1st mort. (conv. into pref. stock). .c*
85 1873
1,000
2.393.000
7
Ch. Mil. & St. P. consol. M.,conv. intopf. stock.c* 1,435 1875
1,000
11.486.000
7
I.&D.Ext.lstM. ($15,000p.m.)con.infopf.st’k.c* 234 1878
1,000
3.505.000
7
g. w . Div. 1st mortgage Western Union R R ..c* 212 1879
1,000
4.000.
000 6
go. Minnesota Div. 1st mortgage.............
c* 419 1880
1,000
7.432.000
6
Mineral Point Division 1st mortgage.............. c* 142 1880
1,000
2.840.000
5
Hast. & Dak. Div.,extens. IstM. ($15,000p.m.)c* 395 1880-6 1,000
6.670.000 7 & 5
Lacrosse & Dav. Div. 1st mortgage...............^c* 185 1879
1,000
2.500.000
5
Wisconsin Valley RR. Co. 1st mortgage......... c* 107 1879
500
1.106.500
7
Wis. Val. D iv.lst M. of 1880, s. f., not dr’n.e* 161 1880
1,000
2.391.000
6
Hub. Div.(Ch. Cl. D.&M.) IstM., s. f.,notdr’n .C 372 1880
1,000
6.565.000
6
Chic. & Pac. Div. 1st M. (Chic, to Miss. R iv)..c* 120 1880
1,000
3.000.
000 6
Western Division 1st M., g., $20,000 per m.c* 1,267 1881
1,000
25.340.000
5
g.
Chic. & Lake Superior Div. 1st mort., g old .. .c*
1,000
68 1881
1.360.000
5 g.
Wis. & Minn. Div. 1st M. ($20,000 p. m.) g old ... 230 1881
1,000
4.755.000
5
g.
Fargo & Southern 1st mort., gold, assumed.. . . . 119 1883
1,000
1.250.000
6 g.
Dividends since 1881—On common, in 1882, 3 per cen t; in 1886, 5 ;
in 1887, 6 ; none since. On new preferred in 1888, 7% ; in 1889, 6 ; in
1890, on December 22,6 in preferred stock. (See V. 51, p. 715); in 1891
on April 1, 1% in cash; July 1 , 1*2.
Fiscal year ends June 30. Report for 1889-90 was in C hronicle , V.
51, p. 568. In the following the figures for 1888-89 and 1889-90 are
for the years ending June 30; those for 1890-91 for year ending March 31,
these latter being from an official statement to the N. Y. Stock Exchange.
INCOME ACCOUNT, &C.
1888-89.
Total gross earnings..................$2,719,932
Operating expenses & taxes.... 1,724,547
1889-90.
$2,911,723
1,731,369
Net earnings........................ $995,385
$1,180,354
Net income (including other
incom e).....................................$1,000,398
$1,212,346
Deduct—
Interest............................
$724,550
$771,514
Rentals........................................
222,118
200,061
Dividend on pref. stock (6 p. c.).
267,912 (3%) 133,956
1890-91.'
$3,463,126
1,794,232
$1,668,894
(?)
$766,175
199,219
(?)
Total.......................................$1,214,580
$1,105,531
$965,394
Balance....................................def. $214,182 sur.$106,815 sur.$703,500
George W. Saul, President, Chicago.—(V. 50, p. 174, 205, 735, 800
V.51, p. 171, 5 6 8 , 680, 715; V. 52, p. 680,762, 795, 862.)
Chicago & E rie .—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 is a reorganization of the Chicago & Atlantic, which
«defaulted on interest November 1, 1884, and was sold in foreclosure
August 12,1890. The New York Lake Erie & Western owns the entire
•stock of $100,000 and guarantees the interest of the first mortgage
bonds. See reorganization plan in V. 44, p. 369.
The first mortgage (trustees Central Trust Co. of New York and Ed
w ard 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 first and the income mortgages cover 249 miles of road, the
contract with the Chicago & Western Indiana, $1,000,000 of that com
pany’s stock and $240,000 stock of the Chicago Belt Railway. Of the
$ 12,000,000 first mortgage bonds authorized, $2,000,000 were reserved
for betterments and equipment. See full abstracts of mortgages in V.
51, p. 911 to 913. Due for equipment May 1, 1891, $416,384; 20 per
c e n t 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 payrhent o f any advances (with interest thereon at 5 per cent) by Erie,
"thirdly to the payment of interest on the incomes. If the gross earn
ings in any year amount to $2,250,000 or less, then this percentage is
to be 22Li 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 27*2 per cent; if to $3,250,000 or more, then 29 per cent.
From Janu arvl to March 31,1891 (3 months), gross earnings were
$607,624, against $672,080 in 1890.
In year ending June 30,1890, gross earnings were $2,710,276; net,
$719,499: rentals. &c., paid, $185,127. (V. 51, p. 185, 205, 405, 751,
829, 830, 909, 913; V. 52, p. 428,498.)
C hicago Sc G rand T runk:.—Owns from Port Huron, Mich., to
Elsdon, 327 miles; also uses 4 miles of Chicago & Western Indiana and
4 miles Grand Trunk Junction Railroad; total operated, 335 miles.
Stock, $6,600,000 in $100 shares. Controlled by the Grand Trunk of
Canada, which gives a traffic guarantee of 30 per cent of gross earnings.
From January 1 to May 31 in 1891 (5 months), gross earnings were
£313,277, against £317,668 in 1890; net, £75,121, against £77,120.
In 1890, gross earnings, £771,264; net, £183,985; surplus over charges,
£22,525, against £25,286 in 1889.
Chicago M ilw a u k ee & St. P a u l.—(See Map.)—L ine o p R o ad .
—The company operates a great consolidated system of railroads in
Illinois, Wisconsin, Minnesota, Iowa and Dakota, which are well shown
on the accompanying map. The main through lines are from Chicago to
Milwaukee, 85 miles; Milwaukee to St. Paul & Minneapolis,via La Crosse,
341 miles ; Milwaukee to Prairie du Chien, 194 miles ; McGregor (oppo
site Prairie du Chien) to Chamberlin, Dak., on the Missouri River, 442
miles ; Chicago, via Savanna, on the Mississippi River, to Council Bluffs,
Iowa, 487 miles; Marion, Iowa (near Cedar Rapids), to Kansas City,
-305 miles; Minneapolis to Aberdeen, Dak., 288 miles. On June 30,
1890, the mileage m Illinois was 318; in Wisconsin, 1,310; in Iowa,
1,553; in Minnesota, 1,120; in Missouri, 140 ; in North Dakota, 118;
in South Dakota, 1,097; trackage, 45. Total miles operated, June 30,
1890, 5,702. Since acquired, 41 miles; under construction, 29 miles.
In September, 1890, acquired by exchange of stock the Milwaukee &
Northern, that company owning from Schwartzburg, Wis., to Champion,
Mich., 254 miles, and having with branches a total completed mileage
•of 362 miles ; 84 miles more being under under construction or projected
Org an ization , &c.—The Milwaukee & St. Paul RR. Co. was organized
May 5,1863, and on Feb. 11,1874, took its present name. The fiscal
year ends June 30. The annual meeting is held in September.
J.
J.
J.
A.
A.
J.
J.
J.
F.
F.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
J.
& J. N.Y.,E.P.Beach, B’way.
& J. New York and London.
do
do
& ,J.
& O. N. Y., Office 42 Wall St.
do
& O.
do
do
do
<fo J.
do
& J.
do
& J.
do
do
do
& A.
do
& A.
do
do
& J.
do
do
& J. London and New York.
J. N. Y., Office, 42 Wall St.
do
<fc J.
do
& J.
do
do
<fc J.
do
do
<fe J.
do
do
& J.
do
do
& J.
do
do
& J.
do
do
& J.
Boston.
& J. N.Y. Office, 42 Wall St.
do
& .1.
do
& J.
do
do
<fc J.
do
do
& J.
do
do
do
<fc J.
do
& J.
do
do
Jan. 1, 1910
Jan. 1, 1900
Jan,, 1922
Apr. 23,1888
April 16, 1891
Jan. 1, ">1893
July 1, 1894
July 1, 1897
Feb. 1, 1898
Feb. 1, 1898
July 1, 1899
Jan. 1, 1902
Jan. 1, 1903
July 1, 1905
July 1, 1908
July 1, 1909
Jan. 1, 1910
July 1, 1910
Jan. 1, 1910
July 1, 1919
Jan. 1, 1909
July 1, 1920
July 1, 1920
Jan. 1, 1910
Jan. 1, 1921
July 1, 1921
July 1, 1921
Jan. 1, 1924
Stocks and B onds .—The preferred stock has a prior right over the
common stock to a dividend of not over 7 per cent from net earnings In
each year, but if not earned it has no cumulative right. If a dividend
was earned in any year and not paid, there might be a claim on future
for such dividend. After payment of 7 per cent on preferred
pud 7 on common, both classes share pro rata. Common stock author
ized, $47,062,560.
Dividends since 1873—On common in 1879, 2% per cent; from 1880
to 1884, inclusive, 7 ; in 1885, 4 ; in 1886 and 1887, 5 ; in 1888, 2% ; in
1889 and since, nil. On preferred in 1874, 7 in consolidated bonds; in
1875, nil; in 1876, 3% cash and 14 per cent in bonds; in 1877, 3% ; in
1878,10% ; from 1879 to 1887 inclusive, 7 ; in 1888,6; in 1889,4*2; in
1890, April 16, 3% per cent; Oct. 22, 3*2 ; in 1891, April 16, 3*2.
Price of common stock—In 1880, 66%®114% ; in 1 8 8 1,101%®129%;
in 1882, 96%®128%; in 1883, 91% ®108% ; in 1884, 58%®94%; in
1885, 64%®99 ; in 1886, 825s®99 ; in 1887, 695s®95 ; in 1888, 59%®
78: in 1889, 6078®75%; in 1890, 44®795s; in 1891, to July 17,
inclusive, 50%®665§.
Price of preferred stock—In 1880,99®124% ; in 18 8 1,116%®140; in
1882, 114® 144%; in 1883,115®122% ; in 1884, 9578® 1 1 9 ; in 1885,
102®125; in 1886,116®125% ; in 1887, 110® 127%; in 1888,98%®
117; in 1889, 97® 118; in 1890, 99%®123%; in 1891, to July 17,
inclusive, 105%@115%. Of the bonds given in the table above as out
standing, $2,825,000 were heldinthecompany’streasury on Jan.10,1891.
An abstract of the terms of some of the principal mortgages was pub
lished in the Chronicle , Y. 45, pp. 85,114,144, 212, and V. 48, p. 830.
Of the consolidated mortgage bonds of 1875, enough was reserved to
take up the prior bonds; these bonds may be stamped and discharged
from the sinking fund provisions. The St. Paul & Chicago, the Chicago
& Milwaukee, the consolidated, the 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 con
vertible into common stock, on notice, 60 days after any dividend day..
They have a sinking fund of 4 per cent, and may be drawn at 105. They
are secured by mortgage, subject to prior liens, on road from Chicago to
Kansas City, about 525 miles. In addition to above bonds there are
$89,000 Hastings &Dakota 7s, due J an. ,1903, convertible into pref. stock;
also $275,000 5 per cent real estate mortgages due in 1890 and 1894.
The general gold mortgage of 1889 for $150,000,000 was fully de
scribed in the Ch ronicle , Y. 48, p. 830; see also V. 50, p. 205. The
bonds bear interest not exceeding 5 per cent. The United States Trust
Co. of New York is trustee.
Operations , F inances , &c .—The mileage and also the stock and debt
of this company increased very rapidly after 1879, the miles owned
being only 2,359 on January 1,1880, and the stock and bonded debt, in
round figures, $69,000,000 on same date.
From July 1,1890, to May 31,1891 (11 months), gross earningswere
$25,356,610, against $24,455,832 in i 889-90 ; net, $ 8,463,108, against
$8,592,808. Mileage, 5,682 miles, against 5,678 in 1889-90.
For the six months ending December 31, 1890, gross earnings were
$15,196,420; net, $5,629,899; total net income, $5,652,219; fixed
charges, $3,618,423; dividends 3% per cent on preferred, $764,396;
surplus, $1,269,399.
Fiscal year ends June 30. Preliminary figures for the year ending
June 30,1891, are published as follows in comparison with 1889-90:
Earnings—
1889-90.
1890-91.
$19,012,159 12
Freight............................................. $18,337,009 51
Passenger........ ......... ........ ..........
5,981,639 36
6,277,77405
Mail, &c.........................
2,087,059 48
2,214,291 32
Total......................................... $26,405,708 35
$27,504,224 49
On the Milwaukee & Northern, which is now owned by the Chicago
Milwaukee & St. Paul, the total earnings for the year are $1,630,441,
an increase over the year ending June 30,1890, of $203,500.
The annual report for 1889-90 was in V. 51, p. 381, 384, showing the
follow ing:
earnings and expenses .
1887-88.
5,717
$
5,973,449
16,933,042
1,820,251
1888-89.
5,723
$
6,241,091
17,163,721
2,017,747
1889-90,
5,702
$
5,981,639
18,337,009
2,087,059
Total earnings............
Expenses fo r —
Maintenance of w ay........
Maint, cars and engines ..
Transportation..................
Taxes..................................
Miscellaneous....................
24,726,742
25,422,559
26,405,707
2,711,306
2,579,498
10,217,262
808,313
157,937
3,121,841
2,502,118
9,943,493
803,517
177,415
3,119,714
2,639,849
10,388,382
830,046
195,106
Total expenses...........
Net earnings.....................
Per ct. of op. exp. to earns.
16,474,316
8,252,426
66-63
16,548,384
8,874,175
6509
17,173,097
9,232,610
6504
Miles operated June 30..
Earnings from —
Passengers........................
Freight...............................
Mail, express to.............
BONDS
AND
STOCKS
RAILROAD
July, 1891.]
1NYESTOKS’
36
SUPPLEMENT.
[ V o l . L IU .
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these T ables.
1
INTEREST OR DIVIDEND
RAILROADS.
Miles Date Size, or
Amount jRate per When IWhere Payable and by Stocks—Last
Par
of
Ror explanation of column Leadings, &c., see notes of
Outstanding
|
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Chicago Milwaukee <£ St. Paul—( Concluded■.)
Fargo & Southern income bonds........ .................. j
Terminal mortgage, gold................ ---•.........- ■-®
Dakota & Gt. South’nlstM .g.($18,000perm ile.); 159
154
Chic & Mo. Riv. Div. lstm ort. ($20,000p. m.) ..c
S CM ,con vert., s. f. $80,000 yearly (dr atl05)c* 525
Gen mort., gold (for $150,000,000) Series A.c*&r
Mil. &Northem—lstm ort. Schwarz, to Gr. Bay.c^ Ï26
362
Cons. M. ($17,000 p.m.). lstnorth of Gr.Bay.c
10
Ohic <£ North Pac.—Ch. & Gt. West. 1st M.g.mt.gu.c*
ConsoLmort. fo r $30,000,000, gold int. guar.c*&r
Chicago & Northwestern—Common stock.. --------- •4.250
Preferred stock (7 p. c. yearly, not cumulative). . 14.250
Peninsular RR. 1st mortgage on road and lands. | 74
Chic & N. W. consol, sink.fund, mort., not drawn.' 776
85
Chic & Mil.lst mortgage, Chicago to Milwaukee
70
Cedar Rapids & Missouri River 1st mortgage...
58
1st M 2d Div., Marshallt’n to Des M. Riv., &c.
146
1st mort. 3d Div., Des. M. River to Mo. River
Mort. of 1884, 2d M. Ced. R. to Des M. River.. 126
69
Iowa Midland 1st mort., Lyons to Anamosa....
129
Madison extens.lstM., g. (s.f. £23,000, not dr n
120
Menominee ext.lstM ., g. (s. f. $20,000,not dr’n)
62
Northwest. Union lstM.,g.,Mil.to Fond-du-Lac.
Chic & N. W. general consol. M., g., s. f., not dr n 1,058
35
Menominee River 1st mortgage, two series
...
81
Mil. & Mad. 1st mortgage, Milwaukee to Madison
Chicago & Tomah 1st mortgage.. . . . . - .
153
Chicago Milwaukee & N. W. construction bonds <
36
Escanaba & Lake Superior RR. 1st mortgage—
INCOME ACCOUNT.
1885
1884 $1,000
1,000
1886
1,000
1886
1,000
1886
1889 lOOO&c.
1,000
1880
1,000
1884
1,000
1886
1,000
1890
100
100
1,000
1863
1,000
1865
1,000
1863
1861 500 &c.
1863 500 &C.
1866 500 &c.
1884
1,000
1870
1871 50Ó &c.
1871 500 &c.
1872 500 &c.
1872 500 &c.
___
76-’8(
1,000
1880
1881
.......
1,000
$200,000
4,773,000
2,856,000
3,083,000
1,840,000
8,851,000
2,155,000
4,003,000
399,000
19,350,000
31,377,345
22,333,170
132,000
12,768,000
1,700,000
700,000
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
6
5 g5 g.
5
5
4 g6
6
5 g.
5 g.
3
1%
7
7
7
7
7
7
7
8
7 g.
7 g.
7 g.
7 g.
7
6
6
6
6
A. & O. N. Y., Office, 42 Wall St.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & D.
do
do
J. & D.
J. & D. N. Y., Office, 36 Wall St.
A. & O. N.Y.,London,Berlin,&c.
J. & D. N. Y.,Co.’s Oin ce,52 Wall
do
do
Q .-M .
do
do
M. & S.
do
do
Q .-F .
do
do
J. & J.
do
do
F. & A.
do
do
F. & A.
do
do
M. & N.
do
do
J. & D.
do
do
A. & O.
do
do
A. & O.
do
do
J. & D.
do
do
M. & S.
do
do
J. & D.
do
do
J. & J.
do
do
M. & S.
do
do
M. & N.
do
do
M. & N.
do
do
J. & J.
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
June26, 1891
June26, 1891
Sept. 1, 1898
Feb. 1, 1915
July 1, 1898
Aug. 1, 1891
Aug. 1, 1894
May 1, 1916
June 1, 1909
Oct. 1, 1900
Apr. •1, 1911
June 1, 1911
June 1, 1917
Dec. 1, 1902
July 1, 1906
Sept. 1, 1905
Nov. 1, 1905
Nov. 1, 1905
July 1, 1901
1889-90.
Stocks and B onds .—Of the common stock, $10,007,520 was held in
$
the company’s treasury on May 31, 1890, making total common
9,232,610 stock $41,387,150. Preferred stock has a prior right to 7 per cen t; then
220,025 common 7 per cen t; then preferred 3 per cen t; then common 3 per cent;
then both classes share.
8,525,490
9,099,953
9,452,635
Dividends since 1875 have been—On common stock in 1878 and
Total net income—
1879, 5 per cent; in 1880 and 1881, 6 ; from 1882 to 1884, inclusive,
Disbursements—
7,214,155 7 ; in 1885, 6*2 ; from 1886 to June, 1891, both inclusive, at rate of 6
7,054,471
Interest on debt. .............
q’J «n oon
1,296,828 per cent yearly. On preferred in 1876,2*2 per cent; in 1877,3% ; from
972,490
6 on pref. 1878 to 1881, inclusive, 7 ; in 1882, 7% ; in 1883 and 1884, 8 ; in 1885..
g g f e e n d s : : : : : : : : : 7 o n g ^ S m 4% onpref.
712; from 1886 to June, 1891, both inclusive, at rate of 7 per cent
vearly.
_ .
Price of common stock—In 1880, 87%®130; in 1881, 117®136; in
s u r .!$ ? ;E E I
J .i l i f e l l
1882, 124® 150%; in 1883,115%® 140*8; iu 1884, 8112®124; in 1885,
* nriie amount at credit of income June 30,1889, was $1,538,682; add 8438®H5%; in 1886. 104%® 1205s; in 1887, 104%®1275g; in 1888,
<cq4 1 « 52=$2,480,334; charged off in 1889-90 (old accounts) $60,819, 10258®116; in 1889, i02% ® 11478; in 1890, 98®117; in 1891, to July
______
17, inclusive, 102%® l l l s8.
leaving balance June 30,1890, $2,419,515.
Price of preferred stock—In 1880,104® 146%; in 1881,131%®147% ;
GENERAL BALANCE JUNE 30.
in
1882,
136®175;
in
1883,
134®157;
in
1884,
117®
149%; in 1885,
1890.
1889.
1888.
119%®13978; in 1886, 135®144; in 1887, 138®145%; in 1888,136%
$
$
®
1
4
6
;
in
1889,
135®144%;
in
1890,
134®
148;
in
1891,
to July 17,
185,631,301
183,889,871
Road and equipment.. . . . . 179>227,016
1,233,388 inclusive, 130®138%.
1,197,965
3,780,106
Bonds and stocks owned.
The
sinking
fund
bonds
of
1879
are
secured
by
a
deposit
of
mortgage
214,957
195,254
553,367
Due from agents, &c— 247,858 bonds on the new roads acquired at the rate of $15,000 per mile, and
316,003
248,327
Due from U. S. Govemm t
the
terms
under
which
these
are
issued
were
published
in
V.
29,
p. 277.
2,407,369
1,932,491
2,764,415
Materials and fuel........... 2,178,000 $6,305,000 of them are 6s, and the sinking fund is at least 1 per cent of
738,000
Bonds of comp’ y on hand.
outstanding
bonds,
the
bonds
being
drawn
at
105.
There
are
several
2,961,930
2,936,609
1,095,333
Cash....................................
1,449,498 Kmail issues of bonds in addition to those in the table above, viz.: Min
1,358,812
21,200
Miscellaneous....................
nesota Valley Railroad, $150,000 7s (April and October), due October 1,
192,565,005
196,324,301 1908 ; Plainview, $100,000 7s (March & September), due September 1,
Total assets................. 187,689,764
1908; Chicago Iowa & Nebraska, $129,000 first mortgage 7s (February
Liabilities—
39,868,961 and August), due August 15,1892; also $1,417,500 liv e bonds in the
39,868,961
39,680,361
Stock, common..................
sinking funds, May 31,1890.
21,839,900
21,610,900
21,610,900
Stock, preferred................
The «miring fund debentures of 1933 were issued to pay for the Chi
125,693,000
123,765,000
Funded debt..................... 118,989,000
2,880,278 cago St. Paul Minneapolis & Omaha stock; the sinking fund for these
2,183,076
3,154,322
Pay-rolls, vouchers, & c...
bonds
is $200,000 per year from May, 1888, if they can be redeemed at
3,529,492
3,478,497
3,451,602
Interest accrued, not due.
93,156 105
119,889
103,761
Miscellaneous....................
In
June,
1884, $6,000,000 5 per cent debentures and in 1891 $10,2,419,514
1,538,682
699,818
Income account................
000,000 similar debentures were authorized; any future mortgage on
the
property
of the company, excepting any mortgage “ for the en
192,565,005
196,324,301
Total liabilities ........ 187,689,764
improvement or extension of the company s property
—(Y 49, p! 269, 341, 403, 5 7 7 , 5 81, 599; V. 50, p. 205, 391; V. 51, p. largement,
shall include these debentures.
.
.
240,'343, 3 8 1 , 3 8 3 , 3 8 4 , 416, 570; V. 52, p. 41, 427.)
The Chicago & Northwestern extension bonds of 1886 are direct bonds
C h ic a g o & N o r t h e r n P a c if ic .—This company was organized in of the Chicago & Northwestern Company, secured by the deposit in
1890 in t ie interest of the Northern Pacific Railroad to acquire the im trust of the first mortgage bonds of roads constructed or acquired, at a
portant terminal property at Chicago owned by the Chicago & Great rate not exceeding $20,000 per mile. The mortgage is for $20,000,000,
Western &c The Chicago & Calumet Terminal Railway, extending and the Union Trust Company of New York is trustee.
from Hammond, Ind., via Blue Island and Worth to La Grange, 50 miles
The Fremont Elkhorn & Missouri Valley bonds have a first lien on
of track in all, crossing 26 lines of railroad entering Chicago, has 1,106 miles (Fremont, Neb., to Whitewood, D. T., 547 miles, and
also been acquired b y parties interested in this company. Leased to branches to Hastings, Albion, &c., 559 miles), but besides the amount
Wisconsin Central for 99 years, and lease assumed by Northern Pacific,, of issue given as outstanding in the table $8,975,000 are held as collat
rental not to be less than $350,000 per annum, payable m gold, and m eral for Chicago & Northwestern extension bonds of 1886. The North
addition such sums as may be needed to pay interest on bonds, taxes western assumed $3,600,000 of the Fremont Elkhorn & Missouri Valley
and organization expenses. See abstract of lease in V. 52, p. 468. bonds and guarantees the remainder.
In May, 1891, it was reported that the Baltimore & Ohio would use this
L and G rant .—The lands of the company have been acquired by the
company’ 8 terminals. See V. 52, p. 831.
of the Winona & St. Peter and other roads that have been con
There is a purchase money mortgage to the City of Chicago for $650,- purchase
solidated.
The Commissioner’s report for 1889-90 showed that the total
000 bearing 5 per cent and due May 1 ,1 9 3 8 . The consolidated mort consideration
for the lands and lots sold in that year amounted to $464,gage (trustee, Farmers’ Loan & Trust Company) is for $3 0,00 0,00 0 ; see 999 Net cash
receipts were $383,707. The statement of amounts
abftract V 5 2 fp . 465. Stock is $30,000,000; par, $100. (V. 50, p. 662, secured to be paid
to the company by outstanding contracts Of sale m
735, 7 7 0 ; V. 52, p. 427, 428, 465, 831.)
force at the end of the fiscal year showed a total of $1,032,893. The
C h ic a g o & N o r t h w e s t e r n .—(See Map)—L ine £>f R oad —The lands yet unsold and uncontracted for on May 31,1890, were 914,613
Chicago & Northwestern operates 4,250 miles of its own roads and con acres.
trols Chicago St. Paul Minneapolis and Omaha, 1,394 miles; Fremont
Operations , F inances , &c .—The Chicago & Northwestern Railway
E lk h o rn & Missouri Valley, 1,106 miles; Wyoming Central, 130 miles,
pursued the policy of extending rapidly its lines in the Far West.
and Sioux City & Pacific, 107 miles; total controlled, 6,987 miles. The has
From June 1,1890, to May 31,1891 (12 months), gross earnings on
main line from Chicago to East Omaha, la., is 492 miles, and this forms 4,254
miles were $27,874,010, against $27,164,837, on 4,250 miles
practically the Southern boundary of the whole system. On May 31,
1890, the mileage of the Chicago & Northwestern properwas made up mFo8i%he calendar year 1890 gross earnings on 4,254 miles were $28^.
as follows: Wisconsin Division, 549 m iles; Galena Division, 406 170 026, against $26,185,281 on 4,250 miles in 1889; net, $9,699,827,
m iles; Iowa Division, 618 m iles; Northern Iowa Division, 546 against $9,877,571; surplus over charges and 6 per cent dividends on
miles; Madison Division, 509 miles; Peninsula Division, 449 miles; common stock, $616,897, against $685,570. See article m V. 52 p. 219.
Winona & St. Peter Division, 448 miles; Dakota Division, 724 miles;
Fiscal vear ends May 31. The President’s report for 1889-90 was
total, 4,250 miles. The Sioux City & Pacific and Fremont Elkhorn & published in full in the Ch ronicle , V. 51, p, 141. The surplus of the
Missouri Valley (including Wyoming Central) are operated separately vear 1889-90 from operations was as follows: From the Chicago &
(1,344 miles), and their earnings not included in those of Chicago & Northwestern Railway, $625,986; from the Trans-Missouri lines, $112,Northwestern, but separately stated in the annual reports in the Chron 456; from the land department, $383,707; total, $1,122,150, available
icle on p. 144 of V. 49 and p. 141 of V. 51.
improvements, &c.
„ ■In December, 1890, the Fremont Elkhorn & Missouri Valley was com for
The following statistics are for the Chicago & Northwestern proper,
pleted to Deadwood, S. D.
the statistics of the Trans-Missouri lines are given in the Chronicle , V.
O r g a n iz a t io n , &c.—The Chicago &Northwestern Railway was organ 51, p. 142.
ized in 1859. The company has since absorbed by consolidation a large
ROAD AND EQUIPMENT.
number of other roads.
.
.
. . . ,,
. . .
1886-87.
1887-88.
1888-89.
1889-90.
In December, 1882, a controlling interest was acquired m the stock of
4,101
4,211
4,250
4,250
the Chicago St. Paul Minneapolis & Omaha Co. by the purchase of Tot. miles oper’d
53 800 shares of preferred and 93,200 shares of common stock.
OPERATIONS AND FISCAL RESULTS.
In July, 1884, the leased lines in Iowa (Blair roads) were acquired on
1886-87.
1887-88.
1888-89.
1889-90
Operations—
the terms stated in the S upplement of June, 1885, and prior issues.
2-29 cts.
2-30 cts.
2-24 cts.
2-17 cts.
In October, 1889, a traffic agreement was made with the Union Pacific Ratep.pass.p.m.
1*15 cts.
1-02 cts.
1-01 cts.
0-98 ctsRatep. ton p.m.t
for close operation together on through business. See V. 49, p. 525.
Receipts—
Net earnings..................
Other income..................
1887-88.
$
8,252,426
273,064
1888-89.
$
8,874,175
225,778
BO N D S
AND
STOCKS
K A IL ß O A D
JiLY, 1891.J
38
INVESTORS’
SUPPLEMENT.
I VOL. l i l i .
Subscribers w i ll con fer a great favor by giv in g im m ediate notice o f any error discovered In these T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due»
Miles Date Size, or
Amount
Par
per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes of
Outstanding Rate
Dividend.
Whom.
Payable
Value.
Cent.
Bonds
Road.
on first page of tables.
Chicago <£ Northwestern—( Concluded.) —
63 1882 $1,000
Des Moines & Minn. 1st M.,Des M.to Jewell Jc.,&c.
1,000
64 1884
Ottumwa 0..F. & St. P. IstM ., guar.($25,000p.m.)
1,000
75 1885
Northern Illinois 1st mortgage ($20,000 p. mile).
l.OOO&c
C.&N.W.s.f.b’ds of ’79($15,000p.m.)red.atl05.c&r 1,041 1879
1883 l , 000&c
Sinking fund debentures of 1933 (not dr’n).c*&r
1884 l.OOO&c
Debenture bonds of 1909 (for $6,000,000).c*&r
1891 l.OOO&c
30-year debentures for $10,000,000........... c*<fer
1886 l , 000&c
Extension 4s ($20,000 per mile)..................c&r
Other small issues (see remarks)............................
Winona & St. Peter 2d mortgage (now 1st) guar., 139 1870-1 1,000
1st mortgage extens., gold,land grant,s.f.,guar. 187 1871 10Ó &c.
60 1877
Maple Riverlstm.,Maple Riv. Jc. to Mapleton,gu
24 1878
Roch. & No. Minnesota 1st mortgage, guar..........
71 1882
Dakota Cent. 3st M.,Watertown to Redfield, guar.
1882
125
1st mort. on Southeast Div. (to Hawarden) guar..
1,000
Fremont Elk. & Mo. Yal. consol M. (see remarks) 1,106 1883
1,000
1883
S. C. & Pac. Car Tr., ass’d,$40,000 dr’n yearly.(
100
6
Sioux City & Pac. pref. stock (1st mort. on 6 m.)
102 1868 500 &c.
1st mortgage (assumed by C. & N. W.)..............
102 1868 500 &c.
2d mortgage (Government subsidy)..................
1883
Mo. Y. & Blair RR. Bridge, 1st, re’ble after 1893
86 1886 100 &e.
Chicago & Ohio River—1st mortgage (for $500,000)
1886
Income bonds......................................... - - —
1,000
120 1888
1,000
170 1889
ls t consol. mort. ($15,000 p. m )......................... c’
1,000
1891
170
Consol. mort, for $20,000 per mile, gold............. <
1,000
Jacksonville Louisv. & St. L. ls t consol. M. gu.c’ 112 1890
100
Chicago Rock Islan d e Pac.—Stock (for $50,000,000
736 1877 l.OOO&c
ls t mort., Chic., 111., to CouncilBluffs&branches.e
100
&c.
1869
268
Chic. & Southw. ls t M. (g’d in cur. by C.R.I.&P.)
1,794 1884 l , 000&c
1891
Certfficates of indebtedness.
$600,000
1,600,000
1,500,000
14,185,000
10,000,000
3,869,000
5,000,000
18,632,000
379,000
1,592,000
4,067,500
402,500
200,000
1,007,000
2,000,000
7,725,000
199,000
169,000
1,628,000
1,628,320
1,000,000
250,000
618,300
1,500,000
1,044,000
(nil.)
1,680,000
46,156,000
12,100,000
5,000,000
33,519,000
1,050,000
F. & A. N.Y.,Co.’s Office,52 Wall
do
do
M. & S.
do
do
M. & S.
do
do
A. & O.
do
do
M. & N.
do
do
M. & N.
do
do
A 15& 0
do
do
F. & A.
do
do
do
do
M. & N.
7
do
do
7 g. J. & D.
do
do
J. & J.
7
do
do
M. & S.
7
do
do
M. & S.
6
do
do
M. & N.
6
do
do
A. & O.
6
do
do
M. & S.
6
do
do
3*2 A. & O.
do
do
J. & J.
6
J. & J. U.S. Treas. at maturity.
6
J. & J. N.Y., Bost. Col. Nat. Bk.
6
6 g. M. & N. Int. funded for 3 years.
No coupons paid.
M. & N.
6
5 g. M. & S. N. Y., Amer. Ex. Bank.
do
do
M.
&
N.
5 gdo
do
5 g. J. & D.
N.Y.,Am.Ex.Bk.&Phila.
5 g. J. & J.
50 c. Q.—F. New York and Chicago.
J. & J. N. Y., 13 William St.
6
do
do
M. & N.
7
do
do
J. & J.
5
do
do
(?)
7
5
5
5 &6
5
5
5
4
Feb. 1, 1907
Mch. 1, 1909*
Mch. 1, 1910=
Oct. 1, 1929
May 1, 1933
Nov. 1, 1909
Apr. 15,1921
Aug. 15,1926'
1892-1908
Nov. 1, 1907
Dec. 1, 191©
Julv 1, 1897
Sept. 1, 1908
Sept. 1, 1907
Nov. 1, 1907
Oct. 1, 1933
Mar. 1, 1896Apr. 1, 1891
Jan. 1, 1898
Jan. 1, 1898
Jan. 1, 1923
May 1, 1916
May 1, 1916Mar. 1, 1928
May 1, 1939*
June 1, 1941
Jan. 1, 1940
Aug. 2, 1891
July 1, 1917
Nov. 1, 1899
July 1, 1934
1888-89.
1889-90. August, 1890, and in November, 1890, under a traffic agreement with
1887-88.
1886-87.
the AtchisonTopeka & Santa Fe, a through line was opened between
$
Earnings—
$
Chicago and St. Louis. (V. 51, p. 608.)
6,285,179
6,261,277
6,279,621
Passenger................... 5,820,151
June, 1891, a new consolidated mortgage was filed, securing bonds;
Freight........................ 19,329,484 19,118,797 18,193,646 19,654,213 toIn
be issued at $20,000 per mile upon present mileage (sufficient bonds
1,225,445
1,237,336
1,299,140
Mail, express, &c....... 1,171,681
being reserved to return prior bonds outstanding) and upon the linethe company proposes to build from Rock lsland to a point on
Total eam’s .......... 26,321,316 26,697,558 25,692,259 27,164,837 which
the Illinois River opposite Havana, also on a line, if built, from Litch
'F'iCÏYÏlP.'n.RP.R—
field
to
Springfield; the Metropolitan Trust Co., of N. Y., is trustee.
3,680,437
3,160,704
3,351,700
Maintenance of way.. 3,227,245
In September, 1890, leased the North & South Illinois (which see).
2,569,167
2,376,125
2,507,673
“
cars, &e. 2,212,289
The
Chicago
Peoria & St. Louis ls t mortgage bonds were described in
10,401,398
9,788,821
Transport’n & miscel. 8,918,681 10,055,684
754,103 Chro nicle , V. 48, p. 223. The first consolidated mortgage (trustee, Cen
701,637
755,742
Taxes........................
712,125
tral Trust Co.) is limited to $15.000 per mile pn present mileage, and on
extension from Litchfield to Springfield, if built; of the authorized
Total...................... 15,070,342 16,670,799 16,027,287 17,405,105 •any
$1,500,000 is reserved to retire first mortgage at maturity.
9,664,972 9,759,732 issue,
Net earnings............... 11,250,974 10,026,759
The
Jacksonville Louisville & St. Louis is successor to the Jacksonville
64-07
62-38
62-44
P. c. exp. to earnings.
57*26
Southeastern, which was sold in foreclosure May 11,1890. Its bonds
are guaranteed principal and interest by this company, which owns
Including construction material, t On paying freight only,
$1,000,000 of the Jacksonville road’s $1,500,000 stock. Stock of Chi
INCOME ACCOUNT.
cago Peoria & St. Louis RR., $2,500,000.
1889-90.
1888-89.
From July 1, 1890, to March 31, 1891, (9 months); gross earnings
1887-88.
1886-87.
$
$394,182, against $306,699 in 1889-90; net, $134,314, against $121,181.
$
$
Receipts—
$
9,759,732
9,664,972
In 1889-90 gross earnings were $398,819; net, $i59,237, against $129,Net earn ings............ 11,250,974 10,026,759
661 in 1888-89. W. S. Hook, President, Jacksonville, HI.
Disbursements—
5,486,197
5,540,456
5,215,156
Interest on debt*....... 5,136,198
( ’ I i i c a g o R o c k I s la n d & P a c if ic .—( See Map)—L ine op R o ad .—
3,444,504 3,444,979 Owns
3,444,504
Dividends.................... 3,444,504
from Chicago to Council Bluffs, 499 miles; Davenport, la., to
202,570 Atehison,
58,000
58,000
Sinking fun d..............
58,000
Kan., 342 miles; 16 branches to Knoxville, St. Joseph, etc.,
398
miles;
total owned, 1,239 miles.
9,133,746
9,042,960
8,717,660
Total disbursm’ts. 8,638,702
Leases; Peoria & Bureau Valley Railroad, Bureau Junction to Peoria,
625,986 47 miles • Keokuk & Des Moines Railroad, Keokuk to Des Moines, 162;
622,012
1,309,099
Balance, surplus........ 2,612,272
Des Moines & Fort Dodge Railroad, Des Moines to Fort Dodge and
Ruthven 144 miles; Chicago Kansas & Nebraska Railway—Elmwood,
* Less credit items.
Kan., to Liberal, Kan., 440 miles; Herington, Kan., to El Reno, I. T.,
GENERAL BALANCE AT CLOSE OP EACH FISCAL TEAR.
232 miles; Horton, Kan., to Roswell, Col., 569 miles; McFarland, Kan.,
1887-88.
1888-89.
1889-90,
to Belleville, Kan., 104 miles; branches to Salina, etc., 126 miles ; (total
Assets_
$
$
Chicago Kansas & Nebraska,1,486 miles); total leased, 1,839 miles.
Road and equipment................ 148,372,056 150,822,658 153,403,472
Leases trackage: Cameron to Kansas City, Mo. (over Hannibal & St»
Bonds owned............................. 10,321,015
11,199,310 *11,219,551 Joseph Railroad); Kansas City to North Topeka, and Limon, Col., to
Stocks owned............................. 12,467,159
12,467,159 tl2,151,500 Denver (over Union Pacific Railroad); Denver to Pueblo (over Denver
422,794
Land grant investments..........
253,000 .
276,000
Rio Grande), total 330 miles; grand total April 1,1891, 3,408 miles.
1,825,439 &O
1,977,541
Bills and accounts receivable..
1,846,520
rgan ization .—The Chicago & Rock Island Railroad was chartered
1,978,007
1,644,709
2,455,296
Materials, fuel, &c.....................
in
Hlinois February 7,1851, and opened from Chicago to the Mississippi
2,148,880 River
3,204,384
Cash on hand.............................
3,669,099
Julv 1854. The present Chicago Rook Island & Pacific was a
4,747,971 consolidation
4,522,402
Trustees of sinking fund..........
4,438,177
June 4,1880, with $50,000,000 stock authorized, and a
stock dividend of 100 per cent to the holders of Chicago R o ck Island
186,114,163
187,897,614
Total........ ............
183,822,322
& Pacific stock. The annual election occurs in June. The Chicago
Kansas & Nebraska theretofore leased was purchased at foreclosure sale
63,700,320 Î63,720,320
Stock, common and preferred,. 63,700,320
579,110 ™8tock ’ and B onds .—Dividends since 1876 ;—In 1877 and 1878, 8 . per
584,360
Stocks of propriet’ry roads, &c.
668,933
Bonded debtlU.................
103,433,500 105,121,500 104,985,500 cent; in 1879,10; in 1880, 8*2 cash and 100 per cent in stock; ftom
1,332,075 1881 to 1887, inclusive, 7 ; in 1888, 6*2 ; in 1889, 4 ; in 1890,4; in 1891,
1,331,599
Dividends declared, not due...
1,331,599
4,747,970 February 2 .1 ; May 2 ,1 ; August 2, *2 of 1 per cent.
4,522,400
__•
Sinking funds paid....................
4,438,175
2,102,309
1,294,873
Price of stock: In 1881, 129®1485g; in 1882, 122® 140%; in 1883,
Current bills, pay-rolls, &c.......
2,050,770
176,327 116%® 127*4*, in 1884,100*4® 126%; in 1885,105@ 132; in 1886,120 *8
147,458
Uncollected coupons, &c..........
122,880
984,612 -@131 • in 1887,109®14078; in 1888, 9478® 114*2 ; in 1889,89*3® 1043s;
1,048,092
Due to roads in Iow a ................
790,955
125,000 in 1890, 61*2®9858; in 1891, to July 17 inclusive, 63%®80%.
125,000
Note of Consol’n Coal C o ........
125,000
1,573,344
1,574,828
The extension and collateral trust 5 per cent bonds o f 1884 (trustee
Accrued and accruing interest.
1,552,796
244,649 of mortgage United States Trust Company) are issued at the rate o !
167,369
Miscellaneous............................
115,209
1,954,421 $15 000 per mile for single track, $5,000 per mile additional for equip
1,570,715
Land income account...............
1,188,546
5,371,977 ment and $7,500 for second track. They are secured by the
4,925,649
Railroad income accou n t........
4,303,639
direct lien of a first mortgage or by deposit with the trustee o fa n equal
T o t a l..............................183,822,322 186,114,163 187,897,614
amount of first mortgage 6 per cent bonds of branch lines. After July
1 1894, they aTe redeemable at 105 in the order of their numbers, be
* Includes Fremont Elkhorn & Missouri Valley consols and Wyoming ginning with the lowest. (See abstract of the extension and collateral
Central Railroad firsts owned and pledged as collateral for extension frost mortgage, etc., in Ch ronicle , V. 47, p. 260, 261. 262.)
In April, 1891, the Chicago Kansas & Nebraska mortgage for $26,fours of 1886, $11,015,000.
„ „ ^
^
t Includes Chicago St. Paul Minneapolis & Omaha stock, $10,000,000; 000.000, the bonds secured by which were deposited as part security
Fremont Elkhorn & Missouri Valley stock, $1,966,500. Also owns Chi for the extension and collateral 5s, was foreclosed in the interest of the
cago & Northwestern common stock, $10,007,520, and preferred stock, collateral trust bondholders. The extension and collateral trust 5s are
now a direct lien on the Chicago Kansas & Nebraska nuleage, instead
$2,284—included on other side of the account,
i TndiifllTig $10,007,520 common, and $2,284 p ref d in co.’s treasury. of a collateral mortgage as formerly. See V. 52, p. 427, 680, 795.
The certificates of indebtedness were issued on account of $1,470,||Including live bonds in sinking funds and owned by company, which
000 Chicago Kansas & Nebraska Railway six per cent bonds due this
amounted May 31,1890, to $1,555,500.
—(V. 50, p. 154,174, 800; V. 51, p. 1 4 1 ,1 5 7 ; V. 52, p. 219, <61, 832, company lo r advances made to construct road between Pond Creek
and Mineo I. T., 982,n miles, under agreement dated May 15,1886.
862.)
F r o m A p r i l 1,1891, t o June 30,1891 (3 m o n t h s ) , g r o s s e a r n i n g s o n
C hicago & Ohio R iv e r .—Line of road from Sidells, 111., to Olney,
86 miles. Successor of the Danville Olney & Ohio River, foreclosed m 3 390 miles were $3,837,305, a g a i n s t $3,862,761 o n 3,339 m i l e s i n 1890.
The fiscal year ends March 31. Annual report for 1890-91 m full was
February, 1886. Three years’ coupons of the first mortgage bonds
s:
have been funded. Stock authorized, $1,500,000; outstanding June 30, in V 52 n 875, 898, 900. Earnings, &c., have been as follow
1890-91.
’
’^
?
1888-89.
1889-90.
1889, $438,800; par, $100. In 1888-89, gross $77,016; net, $13,290; in
3,408
3,257
3,339
terest, $13,980; deficit, $690, against $15,285 in 1887-8. Austin Corbin, Miles owned and operated.
■uice-President.
$4,762,894
$4,613,822
—
................... $4,358,502
Chicago P eoria & St. L o u is.—Owns from Pekin, 111., to Jack PassengerS
11,828,794 . 11,513,845
1
........ ----- 10,918,370
sonville, 111., Havana to Springfield, 120 miles, and Litchfield to East Freight8
1,196,895
1,196,445
Mail,
express,
rentals,
etc.. 1,296,575
St. Louis. 50 miles; uses the Merchants’ Bridge into St. Louis, and leases
Springfield to Litchfield, old St. Louis & Chicago RR., etc., 50 miles.
$17,473,634
$17,639,061
Gross earnings...............$16,573,447
Operated in close connection with the Litchfield Carrollton & Western, Operating
12,413,794
12,475,067
expenses............. 12,086,000
Barnett to Columbiana, 52 miles; the Louisville & St. Louis, Centrana
to Drivers, 17 miles; and the Jacksonville Louisville & St. Louis, 112
$5,059,840
$5,163,994
earnings................ $4,487,447
m iles; Jacksonville to Centralia, 111., 112 miles; total system 401 P. c.Net
71*04
70*72
of oper. exp. to earns..
72*92
miles. The extension to East St. Louis, 50 miles, was completed m
■- —. Jl
Q ¡J
v
\ YELLOW8TONE
A NATIONAL
^ tArk|
J Deadwqod
! \
1
V RapicpCity;
RAILROAD
STOCKS
AN Li
BONDS.
-T- II " ” '
J u l y , 1891.)
M A P OP TH E
CHICAGO, ROCK ISLAND
I)
Sillingsj
w 5 A .i fe P .J c .
f
\ N E W
i
[
M
M a g d a len a cjHySan A n to n io
^
i
P r o C arthage
1
P a c i f i c R a i l w a y Sy s t e m
AND ITS CONNECTIONS.
40
INVESTORS’
SUPPLEMENT,
[V ol . L ilt .
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi»
_________________ RAILROADS._____________ __ I
INTEREST OR DIVIDENDS.
Miles Date ! Size, or
pal, When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
Par
of
Where Payable, and by Stocks—Lust
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Okie. St. P. & Kan. City—Priority loan, red. at 105. 815 1889
$1,882,100
5 g. J. & J. London «fe Amsterdam. Jan. 1, 1934
Minn. <fe Northwestern 1st M.,g., $16,000 p. m.e* 515 1884 $1,000
9,628,000
5 g. J. & J.
See remarks.
July 1, 1934
Ch. St. P. & K. C. 1st M. g. (red. Jan., 1896)...c* 815 1886
1,000
9,193,000
5 g. J. & J.
do
July 1, 1936
General mortgage................ ................................ 815 1889
4,829,000
4 g.
No inter’ st due till 1893. Jan. 1, 1989
Income b’ds (cony, into 5 per cent pref. stock).
1888 10Ò Äc.
4,981,700
5
J. & J.
None paid.
July 1, 1936
I
Chicago St. Paul Minneapolis <£Omaha—Pref. stock.
100 11,259,913
2
J. «fe J. N. Y., Office, 52 Wall St. July 20 1891
St. Paul Stillwater <fc Taylors’ Falls 1st mort. ...c
21 1878 ' 500 &c.
334,800
7
J. «fe J.
do
do
Jan. 1, 1908
12 1878
Hudson & River Falls 1st mortgage.................... c
1,000
125,000
8
J. «fe J.
do
do
July 1, 1908
Chicago St. Paul & Minn. 1st mortgage, gold...c* 177 1878
500
3,000,000
6 g- M. «fe N.
do
do
May 1, 1918
St. P. &Si’x C. 1st M.,g. ($7,000,000)$10,000p.m.c 607 1879
1,000
6,070,000
6 g. A. «fe O.
do
do
Apr. 1, 1919
North Wisconsin 1st mortgage.............................c*
80 1880
1,000
800,000
6
J. «fe J.
do
do
Jan. 1, 1930
Consol, mort., for $30,000,000 ($15,000 per m.).c’- 1,347 1880
1,000 13,413,000
6
J. «fe D.
do
do
June 1, 1930
Sault Ste. Marie & Southwestern 1st M., guar.. ..c
37 1890
1,000
400,000
5
M. «fe N.
do
do
Nov. 3, 1912
Chic. & West. Indiana—1st M., g., s.f., dr’n at 105.c*
48 1879
1,000
2,003,000
6 g. M. «fe N. N. Y., Drexel, M. <fe Co. Nov. 1, 1919
General mort., gold, sinking fund, red. at 105. .c*
48 1882
1,000
6,779,666
6 g. Q - m.
do
do
Dec. 1, 1932
Chicago <£•West in ch .—(Stock author. ($6,800,000).
100
6,638,200
2
F. «fe A. Boston Of., 50 State St. Feb. 16, 1891
General mortgage ($12,000 p. m .)...................... c* 489 1881
1,000
5,410,000
5
J. «fe D. Bost’n, Nat. Webster Bk. Dec. 1, 1921
Chic. & No. Mich. 1stM., guar., $18,000permile.c*
1891
1,000 See remarks.
5
M. «fe N.
Boston.
May 1, 1931
Chippewa Talley—lstM ., g., $&£ for $1,800,000.c* *47 1888
1,000
700,000
5 g. J. «fe J. New York and London. Jan. 1, 1929
Choctaw Coal <£ R'y—1st M.,gold,$20,000 per m ile.
1890
1,000 hypothec’t’d
6
J. «fe J.l
...............
Jan. 1, 1920
Cin. Day. <&Ironton—1st M. for $3,500,000, g., gu.e* 3.45 1891
1,000
2,000,000
5 g. M. «fe N.
New York Agency.
May 1, 1941
Cincinnati Hamilton & D ayton -S tock.....................
100
4,000,000
t¿.~J.
Cincinnati.
July 30, 1891
1*4
Preferred stock, Series A .............................. ..........
100
1,000,000
1
do
July 7, 1891
Q.—J.
do
Series B .........................................
100
553,600
1
do
June 1, 1891
Q - VL
Consolidated mort. ($996,000 are 7s) $ & £ , s.f .c*
60 1875
1,000
2,816,000
5, 6, 7 A. «fe O. N.Y.,Kessler*Co54Wal] Oct. 1, 1905
2d mortgage, gold.................................................c*
1,000
69 1887
2,000,000
4%g. J. «fe J.
do
do
Jan. 1, 1937
Cin. Ham. & I. (Junction) RR., 1st mort., guar...
1,000
99 1873
1,800,000
7
J. «fe J.
do
do
Jan. 1, 1903
Oinn. Jack. <6Mack.—1st,consol.,g.($10,000p.m.)c* 331 1886
1,000
2,095,000
5 g- J. «fe D. Dec., 1889, last paid. Dec. 1, 1936
Cincinnati Van Wert & Mich. 1st mortgage...... c*
1881 100 «fee.
1,171,000
6
J. «fe J. Dec., 1889, last paid. Jan. 1, 1901
2d mortgage, income, non-cumulat., red. at 100.
1881
363,000
1930
6
Cincinnati Lebanon «£*Nor.—lstM . (for$200,000) .c
1,000
38 1886
190,000
5
J. «fe J. Cinn., Fourth Nat. Bank Jan.. 1916
Cincinnati & Muskingum Talley—1st mortgage., .c 148 1870
1,000
1,500,000
7
J. «fe J. Jan.,’ 86, coup, last paid. Jan. 1, 1901
Cincinnati New Orleans & Texas Pacific—Stock.. . . . 336
100
3,000,000
2
Cincinnati, Co.’s Office. Apr. 2Ó, 1891
INCOME ACCOUNT.
This was a consolidation July, 1880, of the Chicago St. Paul & Minne
1890-91.
apolis (formerly West Wisconsin), the North Wisconsin and the St. Paul
$
& Sioux City. The Sault Ste. Marie <fc S. W., 37 miles, was purchased in
5,059,840 March, 1891, and its bonds guaranteed.
98,650
There are also $75,000 Minneapolis East, Railroad first mortgage
........
guaranteed 7s (J. & J.) due January 1,1909. Stock authorized is : Com
1,216,662 mon, $21,403,293; preferred, $12,646,833; outstanding, common, $18,559,427; preferred, $11,259,913; par $100.
Total income..........
6,500,934 6,375,152
In November, 1882, a controlling interest in the stock was purchased
Disbursem ents—
for the Chicago <&Northwestern Railway by the acquisition of 93,200
Rent leased roads........
1,784,024
1,872,113 shares of common at an average price of 48-40, and 53,800 shares of
Interest on debt...........
2,625,550 2,714,950 preferred at an average of 104-04—the total cost being $10,315,659,
Missouri River bridges.
195,580
188,538 which stock is held as an asset of the Chicago & Northwestern Co.
Dividends (4 per cent).
1,846,228
1,846,232
Preferred stock has a prior right to non-cumulative dividend of 7 per
cent from net earnings; but common is never to receive more than is
Total disbursements.....................................
6,451,382 6,621,833 paid on preferred.
Dividends on preferred stock: From 1881 to 1884, inclusive, 7 per
Balance, surplus.................................................
49,552
246,681
cent; in 1885, 4% ; from 1886 to 1888, inclusive, 6 per cent; in 1889,3;
—(V. 50, p. 518, 525, 800, 8 1 2 , 8 3 2 , 8 3 5 ; Y. 51, p. 829, 875; Y. 52, in
1890, 4; in 1891, Jan. 20, 2; July 20, 2.
p. 41,121, 238, 280, 427, 680, 795, 862, 8 7 5 , 8 9 8 , 899, 900.)
Report for 1890 was in Chronicle , V. 52, p. 461. The land sales in
Chicago St. L o u is Sc P ittsb u rg .—See P ittsburg Cincinnati 1890 were 31,293 acres, for $87,202, including lots; land contracts and
C hicago & St. L ouis .
notes on hand December 31, 1890, $984,7o5; lands undisposed of,
Chicago St. P a u l Sc K a n sa s City.—Main lines (all steel) 588,493 acres. Earnings, etc., have been ; follows :
Chicago to St. Paul and St. Joseph, 690 miles; Hayfield to Manley
INCOME ACCOUN
Junction, 47 miles; branches—Summer to Hampton, 64 m iles; to coal
1888.
1889.
1890.
mines, &c., in Iowa, 10*2 miles; other, 4 miles; total owned, SIS1^ Gross earnings............................ $6,411,137
$6,417,857
$6,848,320
miles._ Leases—St. Paul to Minneapolis, lO^j m iles; Chicago terminals, Net earnings............................... $1,762,979
$1,933,446
$2,059,751
10 miles; Dubuque to Aitken, 16 miles; Des Moines terminals, l 1^
506,062
561,426
450,715
m iles; Manley Junction to Mason City, 9 miles; total leased, 49 miles. Net from land grants................
Total, 863 miles.
Total
income.......................
$2,269,041
$2,494,872
$2,510,466
Organized May, 1886. Amalgamated December, 1887, with Minne
Deduct—
sota <feNorthwestern, which was chartered in 1854.
etc., p a id ....................
$91,275
$90,644
$92,731
The Minnesota & Northwestern and Chicago St. Paul & Kansas City Rentals,
Interest
on debt, less credits... 1,309,733
1,323,614
1,280,228
1st mortgage coupons for 1891-92 are guaranteed to be punctually pur Dividends
on
pf.
stock
(4
p.
c.).
450,272
450,272
450,272
chased, and will be funded into “ five per cent sterling priority loan ”
redeemable in 1934, or on six months’ notice at 105, the security for Balance surplus.......................... $417,761
$687,235
which is the purchased coupons deposited in trust. The priority loan —(V. 48, p. 372, 4 5 9 ; V. 50, p. 370, 4 4 9 ; V. 52,$630,342
p. 29 3 ,4 6 1 , 534, 832.)
bonds are limited to $2,823,150, of which $1,882,100 were issued by
Chicago Sc W e ste rn In d ia n a .—Owns from Dolton and Ham
July 1,1891, and the remainder will be issued in equal amounts halfyearly as the first mortgage coupons accrue in 1892. For details of mond, 111., to Chicago, with a belt railroad and branches, with ware
houses, elevator, &c., four main tracks, aggregating 98 miles, and with
funding plan see Chronicle , Y. 49, p.372, 614.
The Minnesota & Northwestern mortgage is limited to $20,000 per sidings,156 miles of track in all, including 2d, 3d, 4th and siding track
mile; the bonds outstanding cover the road between Chicago <fe St. (of which 51 miles are leased to Belt Railway of Chicago) ana about
Paul (400 miles) and other road; total 511 miles, with bridge at St. 400 acres of real estate. Leases road and terminal facilities to the
Paul, and extensive terminals in St. Paul, Minneapolis and Dubuque. Wabash, the Chicago <fe Grand Trunk, the Chicago & Eastern Illinois,
Chicago St. Paul & Kansas City 1st mortgage bonds are a 1st mortgage the Chicago <&Erie and the Louisville New Albany & Chicago, each of
upon 290 miles between Des Moines and St. Joseph and upon terminals which five companies owns $1,000,000 stock, and also to the Atchison
in St. Joseph and Kansas City, and on other road 15 miles; and further Topeka & Santa F e ; the annual rentals stipulated exceed the interest
have a lien upon the mileage covered by the Minnesota <fe N. W. bonds. charge considerably.
Capital stock, $5,000,000, all owned as above stated. Dividends—In
The general mortgage (trustees, Metropolitan Trust Company of New
York and R. H. Benson of London) is for $10,000,000, plus such addi 1890 4 per cent in cash and 20 per cent in stock of Belt Railway Co.
tional amounts as may be needed to replace the bonds now or hereafter The capital stock of the Belt Company is $1,200,000, all held by the
issued under the mortgage of 1886 and the Minnesota & North stockholders of the Chicago <fc Western Indiana. The bonds are liable
western mortgage. They bear no interest till after July 1, 1892. to be redeemed at any time at 105 by a sinking fund, which is provided
Common stock authorized, $25,000,000; outstanding, $14,892,900 for by increased rentals to be paid for that purpose. Sinking fund
payments (in 1890 about $100,000) apply only to 1st mortgage bonds
(par $100).
Leases equipment costing $1,500,000 from the Railway Equipment till these are all redeemed. In 1891, $1,000,000 new bonds were auth.
orized for improvements, &c. Report for 1890 was in V . 52, p. 8 9 8 .
Company of Minnesota, which see under Miscellaneous.
From July 1,1890, to June 30, 1891 (12 months), gross earnings on —(V. 50, p. 243, 518; V. 51, p. 239, 569; V. 52, p. 204, 278, 862, 898.)
863 miles were $4,498,494, against $4,202,944 on 845 miles in 1889-90.
Chicago Sc W e st M ic h ig a n .—Owns from Lacrosse, Ind., to
Fiscal year ends June 30. R eport for 1889-90 was in Chronicle V. Traverse City, 301 miles; Allegan to Pentwater, 98 miles; Big Rapids
51, p. 343.
Junction to Big Rapids, 52 miles; other branches, 38 miles; total oper
ated, 489 miles. Extension north from Baldwin to Traverse City, Mich.,
EARNINGS, EXPENSES AND CHARGES.
74 miles, was completed in July, 1890. In 1887 leased to Chicago <fc
1887-88.
1888-89.
1889-90. Indiana Coal Railroad about 18 miles.
Average mileage owned and oper’d
608
750
845
Organized as successors of Chicago <fe Michigan Lake Shore January 1,
$
$
$
1879, and consolidated in September, 1881, with the Grand Haven
Total gross earnings....................... 2,251,515
2,777,985 4,225,665 Road and the Grand Rapids Newaygo <fe Lake Shore. There are also
Oper’g expenses, taxes, insur.,<&c.. 1,817,135
2,140,080 3,265,885 outstanding $24,000 Grand Rapids Newaygo <fe Lake Shore second
division 7s, due June 1,1905. In addition to stock given above as out
Net income................................
434,380
637,905
959,780 standing, $158,600 is held in trust for exchange under consolidation
Deduct—
agreement.
In terest...........................................
595,725
871,879
*54,590
The Chicago & North Michigan is to be built in the interest of this
Rentals..... , .....................................
163,826
236,825
296,235 company from Traverse City to Bay View, 93 miles, and in March,
1891,
Chicago & West Michigan stockholders had the right of subscrib
Total...........................................
759,551
1,108,704
350,825 ing to $1,675,000 of its first mortgage bonds, guaranteed principal and
Balance.............................. ............. def.325,171 def.470,799 sur.608,955 interest by this company, and to $830,000 of its stock, guaranteed
[* This interest is on the three-year notes, 5 per cent priority loan and same dividends as Chicago & West Michigan stock. See Y. 52, p. 427.
Dividends since 1880—In 1881 and 1882, 2 ^ per cen t; in 1883, 3 ; in
collateral notes. The four next maturing coupons on both classes of
Rrst mortgage bonds are to be funded as they become due into the five 1884. 4 ; in 1 8 8 5 ,1 ^ ; in 1886, 3; in 1887, 2*2; in 1888, 2; in 1889, 2 ;
in
1890, February 15,1 per cent; August 15, 2 per cent; in 1891, Feb
per cent sterling priority loan, and the general mortgage bonds bear no
interest until after July 1,1892; then at the rate of 4 per cent per ruary 16, 2 per cent.
From January 1 to May 31, 1891 (5 months), gross earnings on 485
annum.]
A. B. Stickney, Chairman of the Board. J. M. Egan, President and miles were $652,004, against $618,198 on 406 miles in 1890; net,
General Manager, St. Paul, Minn. W. L. Boyle, Vice-President, 47 Wall $194,224, against, $221,861; charges, $119,549, against $93,616 ; sur
plus, $74,674 against, surplus of $128,245 in 1890.
Street, N. Y. (V. 50, p. 352, 560, 652; V. 51, p. 3 4 3 , 608.)
Report for 1890 was in Ch ronicle , V. 52, p. 533. In 1890 grossChicago St. P a u l M in n eap olis Sc O m a h a.—(Sed'Map Ctlxcâùo earnings were $1,606,419; net, $563,795; surplus over charges, $324,<£ Northwestern.)—Main line—Elroy, Wis., to Omaha, Neb., 593 miles; 729 (against $125,466 in 1889); dividends (4 per cent), $265,528;
other lines, 801 miles; total, 1,438 miles, of which 1,347 miles are balance, $59,201. (V.]50, p. 205,482, 6 6 1 , 662; V. 51, p. 171, 278;
owned, 86 miles leased and 5 miles proprietary road. gBACE
v . 52, p. 5 3 3 .)
m m
Receipts—
Net earnings.........................................
From land department.......................
Premium on bonds, etc......................
Chicago Kansas & Nebraska interest.
1889-90.
$
5,163,994
91,350
35,950
1,209,640
KAIL ROAD STOCKS AND BONDS
Jcly, 1891.J
M A P OP TH E
CINCINNATI, HAMILTON
AND
DAYTON RAILROAD
AN D
C O N N E C T IO N S .
INVESTORS’
SUPPLEMENT.
[V ol. L iii.
Bismarck
Ju ly,
1891.]
RAILROAD
STOCKS
AND
BONDS
4 »
Sntoscribers w ill con fer a great fa v or by g iv in g Im m ed iate notice o f a n y error discovered in these Tables.
__ ______________ RAILROADS._________________
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per
For explanation of column headings, &c., see notes of
of
Par
When
Where Payable, and by Stocks—Last
on first page o f tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.Gin. Richmond <&Ft. W - 1st mort., gold, int. gu.c*
86 1871 $1,000 $1,800,000
7 g. J. & D. N. Y. Winslow, L. & Co. June 1, 1921
Gin. Saginaw <ê Mackinaw—1st M. for $2,000,000 g.
50 1890 $ or *
1,500,000
5 g. J. & J. New York and London. Jan. 1, 1 9 2 »
Cin. S. <6 Clev. and Cin. <6Spr.—See 01. G. Ch. céSt.ï.
Oleve. Akron & Col.—-Gon. M., g. (for $1,800,000).. o 178 1887 500 &c.
1,730,000
5 g- M. & S. N. Y., J. A. Horsey.
Mch. 1, 1927
Equip. Tr. & 2dM.,g.,red.before maturity............c* 178 1890
1,000
600,000
do
do
Aug. 1, 1 9 3 »
6 g- F. & A.
Cleveland <6 Canton—1st mortgage............. .............
161 1887
1,000
2,000,000
5
J. & J. N.Y.S.V. White: Bos.I.Tr July 1, 1917
Equip. Tr. & Improve. 2dM. gold ($2,000,000)..c* 161 1891
1,000
1,000,000
Boston.
July 1, 1917
5 g- A. & O.
Waynesburgh & Canton 1st mortgage, guar.......c
1888
1,000
200,000
Boston.
5 g- J. & D.
June 1, 1928
Oleveland Canton <ê South.—ls t M. for $5,000,000.
1891
(?)
5
Oleveland Cincin. Chic. <ê St. Louis—Common stock
100 27,287,600
1 ^ J. & J. Drexel Morgan & Co. July 10, 1891
Preferred stock, 5 per cent, non-cumulative.........
100 10,000,000
do
do
1%
Q .-J .
July 1, 1891
Cin. & Indiana ls t mort. (Cin. to Ind. State line)c
21 1862
1,000
294,000
7
J. & D.
do
do
Deo. 1, 1892■2d mortgage...................... ............................. .. .c
21 1867
1,000
689,000
7
J. & J.
do
do
Jan. 1, 189$
Indianapolis Cincin. & Laf. mortgage. . ...............c 154 1867
1,000
379,000
7
F. & A.
do
do
Feb. 1, 189T
C. I. St. L. & C. con. M .,drawnatl05, s.f. 1 p. c.c* 175 1880
1,000
753,000
6
M. & N.
do
do
May 1, 1 9 2 »
General IstM.. g.,s.f. 1 p.c., not dr’n.............c&r 400 1886 l,000&c
6,823,000
do
do
Aug. 1, 1 9 3 »
4 g- Q-—F.
Bel. & Ind. 1st mortgage (part due yearly)............ 119 1864
1,000
173,000
7
J. & J.
do
do
1891 to 189»
C. C. C. & I. 1st mortgage, sinking fund................
391 1869
1,000
3,000,000
M. & N.
7
do
do
May 1, 18 9 »
Con. mort. (s. f. 1 p. c.), dr’n at 100 if unst’mp’d 391 1874
1,000
4,068,000 7 or 6 g. J. & D.
do
do
June 1, 1914
Gen. con. mortgage, g.(for $12,000,000)...c* & r 391 1884
1,000
3,205,000
do
do
Jan. 1, 1934
6 g. J. & J.
Indian &, St. L. ls t mort., in 3 ser. of $667,000.c.
72 1869
1,000
2,000,000
do
7
Various
do
July 1, 191»
Mort. for $2,000,000, gold, Indianap.toTerre H.
72 1882
1,000
500,000
do
do
Nov. 1, 1912
6 g- M. & N.
Cl.Cin.Chic.& St.L. 1st M. (Cairo Vin. & Chic.) g.c* 267 1890
1,000
5,000,000
do
Jan. 1, 1939
do
4 g. J. & J.
White Water branch, 1st M., gold................... c*
69 1890
1,000
650,000
do
July 1, 1940
do
4 g. J. & J.
Spring. & Col. Div. (Col. Sp. & Cin.), ls t M., g.c*
45 1890 50Ó &c.
1,098,000
do
do
Sept. 1, 1940
4 g. M. & S.
St. Louis Div. (St.L.Alt. & T. H.) coll. tr.,g.,c*&r 194 1890 l.OOO&c 10,000,000
do
do
Nov. 1, 1990
4 g- M. & N.
Cin. Wab.& Mich. Div., IstM. for $4,000,000 g.c* 203 1891
1,000
4,000,000
do
July 1, 1991
do
4 g- J. & J.
Cincinnati Lafayette & Chicago,lst mort., gold.c
56 1871
1,000
794,000
do
do
Sept. 1, 1901
7 g. M. & S.
Cincinnati Sandusky & Cleveland—Pref. stock...
50
M. & N. New York and London. May 1, 1891
428,850
3
S. Day. &C.(Mad.R.&L.E.) IstM.,s.f.,dr. atlOO.c Ì7Ó 1866
1,000
122,000
6
F. & A. Boston, Nat. Revere Bk. Feb. 1, 1900Consolidated ls t mortgage ($3,000,000) gold ..c 170 1888
1,000
2,483,000
5 g- J. & J. N. Y., Drexel, M. & Co. Jan. 1, 1928:
Cincinnati & Springfield—ls t mort., int. guar o
48 1871
1,000
2,000,000
A. & O.
do
do
7
Apr. 1, 1901
2d mortgage........................................... ■........ c
48 1872
1,000
do
Jan. 1, 1902
125,000
7
J. & J.
do
C h octaw Coal & R a ilw a y .—In operation from Wister, Indian
Territory, on St. Louis & San Francisco Railway, to South McAlester,
Indian Territory, on Missouri Kansas & Texas, 65 miles. Projected
easterly to Little Rock, Ark., and westerly to Albuquerque, on Atlantic
& Pacific, with branch to Denison, Tex. Holds valuable coal leases,
The mortgage is for $10,000,000, of which about $2,000,000 were
pledged for loans.
On January 8,1891, Edwin D. Chadick and Francis I. Gowen were
appointed receivers, and $430,000 receivers’ certificates were issued,
due December 31,1891. The receivers’ report in May showed total in
debtedness $2,756,000; road constructed 108 m iles; road operated 65
m iles; April gross earnings $56,947; net, $24,480; coal shipments 800
tons daily. In May gross earnings were $67,252; net $29,207.
C incinnati D ayton & Ir o n to n .—(See map Cincinnati Hamil
ton (6 D ayton.) Operates from Dayton to Ironton, Ohio, 165 miles,
standard gauge, of which 145 miles are owned, the other 20 miles being
ODerated under traffic contracts, 8 miles between Bakers ana
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 Y. 52, p. 164). Leased in April, 1891, for 99 years, (renewable
forever) to the Cincinnati Hamilton & Dayton, which guarantees the
bonds, principal and interest. Of the $3,500,000 bonds authorized,
$1,500,000 are reserved for improving, equipping and extending the
road. 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.
C in cin n ati H a m ilto n A: D a y to n .—(Sec Map.)—Owns from Cin
cinnati, O., to Dayton, O., 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; Cincinnati & Dayton, Hamilton
to Middletown, 14 miles; Cincinnati Dayton & Chicago, 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—which 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 ne w
4 per cent bonds. Sec Y. 53, p. 94.
Floating 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 cen t; in 1891, January 31, 1*4 ; April 3 1 ,114.
Dividends on preferred stock from January 1,1883, to July, 1886, at
rate of 6 per cen t; from July, 1886, to date, at rate of 4 per cent yearly.
l 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
Disbursements—
•
Interest on bonds.............. 507,443
576,959
551,131
528,630
C. H. & D. dividends........ 325,259
120,000
46,405
160,874
171,401
171,401
175,339
D. & M. dividends............. 132,024
Total disbursements... 964,726
868,360
768,937
864,843
Balance, surplus................ 155,023
541,940
618,651
536,072
—(V. 50, p. 834, 874 ; Y. 51, p. 19, 493, 681 ; V. 52, p. 534, p. 80, 939.)
C in cin n ati In d ia n a p o lis St. L o u is & C h icago.—See Cleve
land Cincinnati Chicago & St. Louis.
C incinnati J a ck so n & M a c k in a w .—Owns from Carlisle, O.,
north to Addison, Mich., 190 m iles; Allegan to Dundee, Mich., 133
m iles; branches, 3 m iles; leases trackage Dundee to Toledo, 23 m iles;
total operated, 349 miles. A consolidation in 1886 of the Cincinnati
Van Wert & Michigan RR. and the Jackson & Ohio RR. In 1887 pur
chased the Michigan & Ohio sold in foreclosure. See abstract of
mortgage (Central Trust Co., of New York, trustee), V. 45, p. 574.
Stock is—Common, $10,413,835; preferred, $5,867,000.
In November, 1889, Mr. Walston H. Brown was appointed receiver.
The road will be sold in foreclosure Oct. 6,1891, and then leased for 99
years to the Cincinnati Hamilton & Dayton, which will guarantee by
^dorsem ent principal and interest of $4,800,000 4 per cent gold bonds.
The C. H.Ac D. will retain $776,800 of the gross earnings, and oh any
excess of this amount up to $1,07.6,800 20 per cent will go to the C. J.
&
&ijd
P,er cent on any further excess. It is further agreed that
$800,000 ot the bonds shall be deposited with the Central Trust Com
pany to provide for betterments, equipment, &e. Y. 53, p. 94. Plan
of reorganization was in Ch ronicle , V. 50, p. 352, 770.
From Jan. 1,1890, to March 31,1891 (3 months), gross earnings were
$187,298, against $137,214 in 1889-90; net, $48,122, against$15,941.
Fiscal year ends June 30, and report for 1889-90 was in V. 52, p. 40.
For calendar year 1890 gross earnings were $680,301, against
$623,439 in 1889; net, $158,140, against $126,718. For year ending:
June 30, 1890, gross earnings were $659,248; expenses, $510,9841
net, $148,263, against $97,511 in 1888-89. Y. 50, p. 352,589,770; V.
51, p. 20.; V. 52, p. 4 0 , 350, 939; V. 53, p. 94.)
C incinnati & M u sk in g u m V a lle y .—Owns from Morrow, Ohio,
to Trinway, O., 148 miles. Sold under foreclosure December 3»
1869, and reorganized as at present January, 1870. Gross earning»
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. Amount 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.
C in cin n ati N ew Orleans dc T ex a s Pacific.—(See Map.)—This
company was organized under the laws of Ohio October 8,1881, andi
operates under lease the Cincinnati Southern, extending from Cin
cinnati 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 systemSee C h ronicle , Vol. 50, p. 560; V. 51, p. 569. The rental due the
City o f 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.
Dividends since 1881: In 1 8 8 2 ,1 ^ per cent; in 1883, 3 ; m 1889, 3;.
in 1890, February 18, 4 per cent; in October, 2; in 1891, April 20, 2.
From July 1,1890, to May 31,1891 (11 months), gross earnings were$4,035,739, against $3,941,792 in 1889-90; net, $1,338,732, against
$1,536,253.
Fiscal year now ends with June 30. Annual report for 1889-90 w as
given at length in V. 51, p. 414, 422.
1887-88.
1888-89.
1889-90.
$
$
$
Gross earnings............................ 3,525,775
3,655,859
4,309,144
Net earnings.................
1,163,402
1,145,256
1,580,963:
Deduct—
For rental.....................
912,000
912,000
912,00»
............
90,000
180,00»
Dividends................. ..............
Sinking fund, etc........................
69,199 ,
77,359
90,912'
Net surplus............. .
.
182,203
65,897
398,051
—(V. 48, p. 221, 250, 3 2 6 ; V. 49, p. 3 4 0 ; V. 50, p. 205, 245, 276, 560 t
V. 51, p. 275, 4 1 4 , 4 2 2 , 569, 645 ; V. 52, p. 321, 939.)
C in cin n ati P o rtsm o u th & V ir g in ia .—Owns from Idlewild,.
O., to Sciotoville, 107 miles ; op erates Columbus & Maysville JRy., Hills
boro to Sardinia, O., 19 miles ; trackage (Pitts. Cin. Chic. & St. Louis)r
to Cincinnati, 9 miles ; total operated, 135 miles: The Ohio ¿ N o r t h
western was sold in foreclosure March 13,1890, and reorganized as
the Cincinnati Portsmouth & Virginia with $1,566,000 common stock
to retire first mortgage bonds at par and interest and $594,000 pre
ferred stock for prior liens, receivers’ certificates, &c. In 1890 gross
earnings were $227,813 ; net over expenses and taxes, $13,744President, Samuel Hunt.—(V. 50, p. 276, 353, 392 ; V. 52, p. 899.
From Jan. 1 to June 30,1891 (6 months), gross earnings on 107 miles
were $105,256, against $99,373 in 1890. V. 53, p. 48.)
C incinnati R ic h m o n d & F o rt W a y n e .—Owns from Rich
mond, Ind., to Adams, Ind., 86 miles; leases 5 miles of Pittsburg Fort
Wayne & Chicago; total operated, 91 miles. Leased for 99 years to>
Grand Rapids & Indiana, the rental being net earnings. Interest is
guaranteed by the lessees and by the Pennsylvania Company and Chi
cago St. Louis & Pittsburg Company jointly. Gross earnings in 1890»
$471,296; net, $165,853; profit to guarantors, $3,854, against loss or
$8,983 in 1889. Stocx, $1,709,313; par $50. Total advances by guar
antors to December 31,1890, $1,131,995.
C incinnati Sa gin a w & M a c k in a w .—Owns Durand to Oa-ta-ka
Beach, 56 miles. Successor in 1890 to the Toledo Saginaw & MackinawIn September, 1890, leased for 99 years to the Grand Trunk of CanadaOf the $2,000,000 bonds $500,000 were reserved for new terminalsextensions, &c. Bonds are either $1,000 or *205 10s. (V. 51, p. 645.)/
C in cin n ati Sandusky & C leveland.—Owns from Sandusky, O.»
to Dayton, O., 154 miles; branch, Carey to Findlay, 16 miles; total.
170 miles. October 31,1890, leased till 1969 to the Cleveland Cincinnati
Chicago & St. Louis, which purchased the common stock, and agreed to
pay interest on the bonds and dividends on preferred stock. See V. 51»
p. 457. The preferred stock has a lien by deposit of old bonds in trust.
Cash dividends since 1876: On preferred, 6 per cent yearly to date;;
on common, in 1882, 2; in 1884, 2; m 1888, 5; in 1889, 3*2; in 1890, 5^..
In year ending June 30,1889, gross earnings were $814,879; net,.
$2 90,734; rental received, $94,606; total net, $385,340. (V. 50, p. 632.
8 0 1 - Y. 51, p. 142,, 416, 457, 608; V. 52, p. 80, 428.)
C incinnati & Springfield.—Operates from Cincinnati, O., t©
Springfield, O., 80 miles, of which 32 miles are leased from other com
panies. The whole is leased and operated by Cleveland Cincinnati Chi
cago & St. Louis Company, giving them a line into Cincinnati and depot
accommodation. Lessees apply any excess over operating expenses
and interest to Cincinnati & Springfield stock. Interest is guaranteed
on the first mortgage, one-half by the lessees and one-half by Lake
44
INVESTORS’
SUPPLEMENT.
[VOL. L I I I .
J u ly , 1&91.J
li AILE OAD
STOCKS
AND
BONDS,
45
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles
Size, or
pal,When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
of
Par
Stocks—Last
Where
Payable,
and
by
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Clevel. Lor. <£• Wheel.—Cl. Tusc. Yal. & W., 1st mort
Cleveland <&Mahoning Yal.—1st mort., extend.. .c*j
3d mortgage (now 2d)............................................c*
Consol, mort. for $3,000,000 (reg. int. Q.—J.) .c<fer|
Cleveland & Marietta—1st mortgage, gold..........c&r,
Cleve. <£Pittsb.—Stock, 7 p. c. guar, by Penn. Co___
4th mortgage (now 1st)___'.................................. e
Consol, sink, fund mort. for $5,000,000,not dr’n.c!
Constr’n and equip’t inc. bds.,Ser.“ A” ) s. f.,dr’n .c
do
do
do Ser.“ B” 5 at 100.c
Colorado Midland—See At. Top. & Santa Fe system.!
Columbia <GGreenville—1st mortgage, gold......... c*
2d mortgage............................
c*
Columbia Newb. &Laurens—lstM,g.,for$12,000 p.m
Columbus <&Cinn. Mid.—1st M.,ext. at 4 *3 p.c.guar.
Debentures, guaranteed..........................................
Columbus Hocking Valley <&Toledo—
Col. & H. Y. 1st mortgage..... ..............................c*
2d mortgage (Columbus to Athens and brs.. ,)c*
Col. & Toledo 1st M. (Columbus to Walbridge)..c*
2d mortgage (Columbus to Walbridge)...............
Ohio & West Va. Istmort. (Logan to Pomeroy)..c*
Consol, mortgage, gold (for $14,500,000).........c*
Gen. mort.,gold,on road & Hocking Coal& RR.Co.c
Colum. Shaw. <£•Hock.—Stock ($2,000,000 is pref.).
1st mortgage for $5,000,000, gold......................c*
Equipm’t M., g., sub. to call after ’96, ($1,000,000)
Zanesville Term’l Co. 1st m. for $500,000, gold.c*
158
125
125
125
97
1878 $1,000
$700,000
1873 «300 <fcc.
654,000
1876 500 &c.
487,900
1888 l , 000&c
1,500,000
1887
1,000
600,000
50 11,247,036
1862
500
1,104,844
1867
1,000
1,931,000
1873
1,000
1,558,000
1873
1,000
451,000
7
7 g.
7
5 g.
6 g.
1%
6
7
7
7
A. & O. N. Y., Union Trust Co.
F. & A.'N.Y..Winslow.Lan.&Co.
M. & S.
do
do
J. & J.
do
do
F. & A. N. Y., John Paton & Co.
Q .-M . N. Y., Farm. L. & T. Co.
J. & J.
do
do
M. & N.
do
do
J. & J.
do
do
J. & J.
do
do
Oct. 1, 1898
Aug. 1, 1893
Sept. 15,1896
Jan. 1, 1938
Aug. 1, 1937
June 1, 1891
Jan. 1, 1892
Nov. 1, 1900
Jan. 1, 1918
Jan. 1, 1934
164
164
43
71
1881
1881
1887
1884
1890
2,000,000
1,000,000
340,000
2,000,000
240,000
6 g.
6
6 g.
4*3
4*3
J.
A.
J.
J.
J.
&
&
&
&
&
J. N. Y., 4th Nat. Bank.
O.
do
do
J.
J. N.Y.,Farmers’ L.&T.Co.
J. Balt., B. & O. RR. Co.
Jan. 1, 1916
Apr. 1, 1923
Jan., Í937
Jan. 1, 1939
Jan. 1, 1895
121
121
118
118
85
325
325
1867 500 &c.
1872
1,000
1875
1,000
1880
1,000
1880
1,000
1881
1,000
1884
1,000
7
A.
7
J.
7
F.
7
M.
M.
7
5 g. M.
6 g. J.
&
&
&
&
&
&
&
O. N. Y., Atlantic Trust Co.
J.
do
do
A.
do
do
S.
do
do
N.
do
do
S.
do
do
D.
do
do
Oct. 1, 1897
Jan. 1, 1892
Aug., 1905
Sept., 1900
May Í, 1910
Sept. 1, 1931
June 1, 1904
ÌÌÓ
110
1890
1891
1890
1,401,000
777,000
2,500,000
600,000
1,584,000
8,000,000
1,618,000
4,000,000
3,000,000
200,000
350,000
Ï99
199
1,000
1,000
1,000
1,000
1,000
1,000
1,000
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
C in cin n ati W a b a sh & M ich iga n R a ilw a y .—Owns from
Benton Harbor, Mich., to Rushville, Ind., 205 miles. Sold 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. Gross earnings in 1890 on 165 miles, $603,170; net, $202,514.—(V. 49, p. 372; V. 50, p. 482; Y. 52, p. 164, 570, 718.)
C leveland A k ro n & C olu m bu s R a ilw a y .—Owns from Hud
son, O., to Columbus, O., 144 miles, and branch, Kilbuck to Dresden
Junction, 33 miles; trackage, Cincinnati & Muskingum Valley Ry.,
Dresden Junction to Zanesville, 17 miles; total, 194 miles. Sold in fore
closure 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 1*3 per cent; for 1888 and 1889,
each 1 per cent.
From July, 1890, to May 31, 1891 (11 months), gross earnings were
818,615, against $724,078 in 1889-90; net, $214,719, against $192,079.
For six months ending Dec. 31,1890, surplus over fixed charges was
about $42,980. In year ending June 30,1890, gross earnings (including
Dresden branch) were $797,889; net, $213,343; surplus over interest,
taxes, &c., $54,682.—(V. 51, p. 303, 679; V. 52, p. 351, 462, 464.)
C leveland & C a n t o n .—(Sec M ap.)—Line of road.—Cleveland to
Coshocton, O., 115 m iles; Canton to Sherrodsville, 43 m iles; branch, 3
miles; leases 6 miles; total, 167 miles. Made standard gauge in No
vember, 1888. The Connotton Valley RR. was sold in foreclosure May
9, 1885, and this company organized. Capital stock is $3,099,599 com
mon 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. In reference to the
Cleveland Canton & Southern, see that company below.
From July 1, 1890, to May 31, 1891 (11 months), gross earnings
were $577,407, against $448,680 in 1889-90; net, $207,345, against
$152,081. Annual charge for interest, taxes and rentals will hereafter
be about $200,000.
Gross earnings for year ending June 30, 1890, $499,504; net,
$180,019; interest, rentals and taxes, $174,972; surplus $5,047. In
l|88-89 gross, $390,216 ;net, $136,051—(V. 51, p. 6 4 4 ; V. 52, p. 350,
C eveland C anton & Sou th ern .—Owns a line two miles in
length, affording the Cleveland & Canton through its allied line, the
Coshocton & Southern, entrance into Zanesville, Ohio. In 1891 a
mortgage for $5,000,000 was filed in accordance with a project to con
solidate the Cleveland & Ganton associated lines into one company
under this name. See V. 52, p. 462. Stock, $1,602,000.
Cleveland C incinnati Chicago & St. L o u is.—(See Man.)—
Ow ns:—Cleveland, O., to Columbus, O., 138 miles; Galion, O., to In
dianapolis, 203 miles; Delaware to Springfield, 50 miles (these three
lines, 391 miles, compose old C. C. C. & I.); Cincinnati to Lafayette (part
of old Cincinnati Indianapolis St. Louis & Chicago), 175 miles, and
branch, 3 m iles; 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 miles; Harri
son, Ind., to Hagerstown, Ind., 65 miles; total owned, 899 miles.
Leases—Cincinnati Lafayette & Chicago (the entire stock owned)
Templeton, Ind., to Kankakee, HI., 75 miles; Fairland Franklin & Mar
tinsville Railroad (entire stock owned—no debt), Fairland, Ind., to Mar
tinsville, 38 m iles; Vernon Greensburg & Rushville Railroad (all bonds
and 70 per cent stock owned), North Vernon, Ind., to Rushville, 45
m iles; Columbus Hope & Greensburg Railroad (all bonds and 61 per
cent stock owned), Columbus to Greensburg, Ind., 24 m iles; other lines,
entire stock owned—no debt, 12 m iles; Cincinnati & Springfield (leased
for 99 years—55 per cent stock owned), Dayton, O., to Cincinnati, 56
miles; Cairo Vincennes & Chicago, entire stock owned; Cairo to Tilton
and branc_, 267 miles; Peoria <fc Eastern, Pekin, 111., to Indianapolis,
miles), and Springfield Division, Indianapolis to Springfield,
142 miles; Cincinnati Sandusky & Cleveland, Sandusky, O., to Dayton,
O., 154 miles, and branch, 16 miles; Columbus Springfield & Cincinnati,
Columbus, O., to Springfield, 44 miles; Cincinnati Wabash & Michigan
Railway (entire stock owned), Benton Harbor, Mich., to Rushville,
ind., 205 miles; trackage, Illinois Central into Chicago, 56 miles;
other trackage, 12 m iles; total operated, including trackage, 2,257
miles.
Also operates, keeping earnings separately, Kankakee & Seneca
Railroad (one-half stock and bonds owned), Kankakee to Seneca, 111..
42 miles. Also owns jointly Dayton & Union Railroad (operated
separately). 47 miles.
budCEM
A
5 g. J. & J. N. Y., Hatch & Foote. Jan. 1, 1940
do
do
6 g. A. & O.
April 1, 1916
5 g. J. & J. See Hatch & Foote.
July 1, 1940
Org an ization , E tc .—The Cleveland Cincinnati Chicago & St. Louis
Railway Company is a consolidation of the Cincinnati Indianapolis St.
Louis & Chicago Railway Company, the Cleveland Columbus Cincin
nati & Indianapolis Railway Company and the Indianapolis & St. Louis
Railway Company, made in July, 1889. It is one of the so-called
Vanderbilt roads. The St. Louis Alton & Terre Haute main line and
branch was purchased in 1890 for $10,000,000 of 4 per cent bonds.
The Cairo Vincennes & Chicago is operated under contract dated Octo
ber 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. (See
V. 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
mortgage bonds secured on that road to take up the outstanding 7s and
the scrip; also to lease the Cincinnati Sandusky & Cleveland, and to
issue $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. 7s
still outstanding, for which $112,500 new 4s were reserved.
Stock and B onds .—The consent of a majority interest of the preferred
stockholders is required before any new bonds can be issued or any
lease executed. According to Ohio statutes company should have priv
ilege of retiring preferred stock at par after June 27.1892.
Dividends on preferred stock 1 *4 per cent quarterly to date. Dividends
on common, in 1890, 4 per cent (1 per cent being extra in July), in
1891, January 5, l * s ; July 10, 1*2.
Price of common stock—In 1889 58*2 to 78*8; in 1890, 55@80*4; in
1891, to July 17, inclusive, 57%@6678.
Price of preferred stock—In 1889, 96 to 103*2; in 1890, 86®101;
in 1891, to July 17 inclusive, 91@98.
The Cincinnati Indianapolis St. Louis & Chicago 4 per cent mortgage
for $10,000,000 (Central Trust Co. and Hervey Bates, trustees) will re
tire all prior bonds as they fall due. The sinking fund for these bonds
is 1 per cent yearly of the amount of outstanding bonds; payments
lapse when bonds cannot be purchased at 102*2 and interest.
The sinking fund provision of the Cleveland Columbus Cincinnati &
Indianapolis 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. & S.; 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 bonds of the
Cleveland Cincinnati Chicago & St. Louis Co., but are secured by a mort
gage 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 the 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 E arnings.—From July 1,1890, to May 31,1891,
(11 months), gross earnings (on 1,659 miles) were $12,108,191, against
$11,838,053, (on 1,659 miles) in 1889-90; net, $3,949,052, against $4,176,116; interest, rentals, etc., $2,727,377, against $2,835,783; surplus,
$1,221,675, against $1,340,333.
On the Peoria & Eastern Division from January I, to May 31,1891
(5 months), gross earnings were $615,351, against $613,025 in 1890;
net, $98,684. against $173,463.
Fiscal year ends June 30. Report for 1889-90 was in V. 51, p. 535.
EARNINGS AND EXPENSES 1889-90.
(Not including Peoria & Eastern, Columbus Springfield & Cincinnati,
Cincinnati Sandusky & Cleveland or WhiteWater.)
Earnings—
Expenses—
$
Passenger....................... 3,235,471 Maintenance of way, &c. 1,394,578
Freight............................ 7,998,228 Maint. of equip. & eng’s.. 1,454,469
Mail, express, &c..........
847,603 Transportat’m& general. 5,476,575
Total.........................12,081,302
Total...........................
Net earnings................................ ...................................................
INCOME ACCOUNT 1889-90.
Receipts—
$
Disbursements—
Net earnings.................. 3,755,676 Interest................
Rentals, interest, &c.. .
303,476 Rentals.................
Dividends.............
Total net.................. 4,059,152 Miscellaneous.......
8,325,626
3,755,676
$
1,624,651
936,585
1,320,000
14,940
Total........................ . 3,896,176
Balance, surplus.............................................................................
162,976
- ( V . 50, p. 37,174, 314, 352, 390, 451, 482, 622, 770, 904; V. 51, p. 51,
171, 172, 206, 303, 383, 416, 457, 5 3 5 , 608,753, 787; V. 52, p. 428,
498, 499, 534,718, 761.)
LNTESTOKS’
SUPPLEMENT.
[V ol.
l iii,
J u l y , 1891. J
KAILROAD
STOCKS AN D
BONDS.
47
Subscribers w ill confer a great fa v or by g iv in g Im m ediate notice o f an y error discovered In these Tables.
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par
Rate per When Where Payable, and by Stocks—Last
Outstanding
on first page of tables.
Road, Bonds Value.
Cent. Payable
Whom.
Dividend.
Columbus (6 Xenia—Stock, 8% per cent rental____
Concord & Claremont (N. H .)—1st mortgage.........c
Concord & Montreal—Stock, Class I. (B. C. & M. pf.)
Stock, Classes II. and III. (B. C. & M. new and old)
Stock, Class IY. (Concord).......................................
Bost. Con. & Mon. cons. mort. ($582,400 are 6s).c
Improvement mortgage......................................c
Consolidated mortgage for $5,500,000............... c*
Concord & Ports.—Stock, 7 p.e. rn’l, 99 yrs. Conc’d
Conn. <&Passum.—Pref. stock, 5-6 p. c.ren’l,99yrs.c*
1st mortgage (White Riv. June, to Canada line) c*
Massawippi st’k, guar, same div. as Conn. & Pass.
Newport & Richford 1st mort. guar, by C. & P c*
Connecticut River—Stock ($2,670,000 authorized")..
Connecting (Phila.)—1st mortgage, endorsed.........c
Com ing Cowanesque &Antrim—D ob., d’n at 100.. c*
Coshocton <6 Southern—1st mortgage.......
Cresson Clearfield Co. <6 N. Y. Short RoiUe—lstM .
Cumberland <6Pennsylvania— 1st mort. gold, guar
Cumberland Valley—Stock ($484,900 is preferred)
1st and 2d morts., (2d $109,500 due April, 1908).
Danbury <6Nor.—Stock, 5 p. c. gu. 99 yrs. Hous.RR.
2d mortgage, now 1st...............................
c*
Consolidated mortgage ($100,000 are 6s).......... c*
General mortgage...............
c*
D anville dkEast Tenn.—1st M., $25,000 p. m." goid.
Danville <6 Western—1st mortgage, gold, guar__ c
55
71
$50 $1,786,200
2
Q .-M . Columbus, 6 ., Treasurer June 10,1891
1874 500 <fcc.
500.000
7
J. & J. Bost., Treasurer’s office. Jan. 1, 1894
100
800.000
3
M. & N. Concord, Co.’s office.
May 1, 1891
100
1, 000,000
100
3.000.
000 3"
M.
&
N.
Concord,
Co.’s
office.
May 1, 1891
166 1873 200 &c.
1,947,400
6 & 7 A. & O. B’ston, Faneuil Hall B’k Apr. 1, 1893
166 1881
1,000
500.000
6
J. & J.
do
do
Jan.
1, 1911
1890
1,000
1.470.000
4
J. & D.
do
do
June 1, 1929
47
100
350.000
312 J. & J. Bost.&Manchester, N.H July 1, 1891
100
2.500.000
212 F. & A. Boston, 8. Dep. &Tr. Co. Feb. 1, 1891
110 1873 100 &c.
1.500.000
7
A. & O.
do
do
Apr.- 1, 1893
37
100
400.000
F. & A.
212
do
do
Feb. 1, 1891
22 1881
1,000
350.000
5
J.
&
J.
do
do
Jan. 1, 1911
80
100
2.580.000
2
Q.—J.
Springfield,
Mass.
July 1, 1891
7 1804
1,000
991.000
6
M. & S. Phila., Penn. RR. Office. 1900-’l - ’2-’3-’4
85 1883
1,000
1.070.000
6
M. & N. Phila., Fidelity Trust. May 1, 1898
30 1887
600.000
5
J. & J. Boston, Intem’l Tr. Co.
1917
47 1884 50Ò" Ac.
750.000
6
M. & N. N. Y., Morton, Bliss.
May 1, 1904
57 1891
1,000
1.000.000
5 g- M. & N. N.Y.,Consol. Coal Office. May 1, 1921
50
1,777,850
2
Q .-J . Phila., T.A. Biddle & Co. July 1, 1891
"52
500 &e.
270,500
A. & O.
8
do
do
Apr. 1,1904-8
37
50
600.000
212 F. & A. Bridgeport, Hous. RR. Feb. 15,1891
36 1872 100 &c.
200,000
7
J. & J.
do
do
July 1, 1892
36 1880
1,000
300.000
5 & 6 J. & J.
do
do
July 1, 1929
36 1883
100
150.000
A. & O.
5
do
do
Apr.
1, 1925
1891
1,000
J. & J.
(?)
New York Agency.
5
«■
July
1, 1921
1891
100
1.052.000
5 g A. & O. N.Y., Richmond & Dan. Oct. 1, 1936
i
i
5
£ * “ c i n n a t i & I n d i a n a p o l i s .—See Cleve
land Cincinnati Chicago & St. Louis.
^Cleveland L o ra in Sc W h e e lin g .—Owns from Lorain O to WA«t.
lb ® Voiles, and branch to Bellaire, O., 6 miles. The Cleve
land Tuscarawas Valley & Wheeling was sold in February, 1883. and
reorganized as Cleveland Lorain & Wheeling. Common stock is $1,000,000, and preferred $4,600,000, par $100. Lake Shore & Michigan
f,}69’} 00. common and $774,400 preferred. There are
also $150,000 Cleveland Lorain & Wheeling first mortgage 6 per cent
?RQidS i?„ter?8t
due July->1895- and 1226,000 caTtmstsffiue fn
1891, etc. In 1890 gross earnings were $1,209,655; net, $322.861:
$264,862. In 1889 gross earnings were $1,124,.
346, net, $321,017; surplus over interest, $263,017. Dividends on
l o , p .1«
I
f
l 888' 2 P 6 r ;
1889- 2 re?
m iles, total_operated, 125 miles. Leased to the reorganized New York
^ °Jui)oI^?'llr0ad
1982; the rental is $502,180 per
. rbe b9’“ d®of 1888 (trustee of mortgage Central Trust Company)
were for double-tracking between Cleveland and Youngstown, for ter^ c k 8isa«2 ^
«
8«fmV6d
prior bonds in 1893 and 1895.
I ^ i l f e S ’Qua&riy^50^ aM dmdends of atooutfgg
Per
C le v e la n d &
O Tarietta.—Owns from Marietta, O., to Canal
97 mlles> an<l 8 miles, Valley Junction to Canal
?«B « ; i / d' T1ie r°ad was foreclosed for the second time in May,
Stock $$2,000,000—par $100; car trusts, June
30,1890, $125,396. From July 1 to May 31, 1891 (11 months) eross
earnings were $336,198, against $252,709 in 1889-90; net *84^809
against $54,463. A. T. Wikoff, President, Cambridge, O.
’ * 94:’ H09’
Cleveland Sc P ittsb u rg .^>(See Mian Pennsylvania Ttaitran/t \
Clevelan d ,0 .,to Rochester, Pa., 124 miles; branches—Bayard, O., to new
Philadelphia^ 31 miles; Yellow Creek to Bellaire, 43 miles; leases, Roch
ester to Pittsburg (Pittsburg Fort Wayne & Chicago), 26 miles; total
operated, 224 miles. The property was leased for 999 years from De
cember 1,1871, to Pennsylvania Railroad Company, and lease trans^ Pcpneyivani* Company May 1,1872. Rental, 7 per cent on
existing capital (10 per cent on the old) and $10,000 per year for com
pany expenses, the lessees assuming all liabilities
9
For the year 1890 the gross receipts were $3,593,673, and the deficit
^ ; 1T 5 0 , ^ a 7o1’ v 75 2 Si 18 0 ) a d6llCjt ° f $229,740 in 1889. (V. 48, p
This was a consolidation in July, 1881, of the Columbus & Hooking
Valley, Columbus & Toledo and Ohio & West Virginia. An arrangement
was made in 1885 with Toledo & Ohio Central bv which this comnanv
guaranteed the interest on the Toledo & Ohio Central 1st mortgage
In August, 1889, a default was threatened by President Shaw on
coupons due September 1, but committees of stock and bondholders
were organized, the interest paid, Mr. Shaw asked to resign, and C. C.
Waite elected President and 8. D. Davis Vice-President.
. Suit is in progress to recover the proceeds o f sale of $6,200,009 consoli8’ claimed to have been wrongfully diverted from the treasury.
Of the consolidated mortgage $6,500,000 was reserved to meet the
prior liens; toe ‘ ‘ Hocking Coal & Railroad” joined in making these
bonds. The Central Trust Company of New York is trustee. A e gen
eral mortgage of 1884 covers the road, and is also a mortgage on the
coal property of the “ Hocking Coal & Railroad Company,” whose stock
is owned by toe Columbus Hocking Valley & Toledo.
eqmpment costing over $4,000,000, of which about
$1,000,000 is covered by car trusts due 1891 to 1897.
Dividends since 1881: In 1883, 2 ^ per cent; in 1 885,133s in stock;
none since. Stock, $11,696,300; par $100.
Price of stock -In 1885, I S - © « ; in 1886, 2678® 45ia; in 1887,15®
17®36%; in 1889, 11®28J4; in 1890, 1 8 ^ 3 2 ^ ; in
1891, to July 17, inclusive. 23*2 ©291s.
30,1891 (4 months), gross earnings were
$864,587, against $801,549; net $360,342, against $361,756. 8
^R eport for 1890 was in C hronicle V. 52, p. 120, showing the followINCOME ACCOUNT.
1887.
1888.
1889.
1890.
Ttpcpt7)/ o_
$
$
Gross earnings.................... 2,595,583 2,875,515 2,496,319 3,056,752
Net earnings....................... 993,684 1,221,853 1,007,692 1,308,200
Miscellaneous....................
44,485
28,579
28,335
32,147
Total receipts.............. 1,038,169 1,250,432 1,036,027 1,340,347
Disbursements—
Int. on bonds & car trust.. 979,557
984,020
997,820
977,420
Interest on floating debt..
18,629
23,758
12,950
38,205
Int. to Pa. RR. on lease...
24,048
24,086
24,658
24,490
Miscellaneous.......................................
3,118
Balance...............................sur.15,935 sur.215,451
1,035,428 1,040,115
sur. 599 *300,232
* Of tMs amount $117,211 was spent for additions, improvements,
,Wa?J? $174,635 for equipment, leaving a surplus of $8,385.
—(V. 50, p. 1 0 5 , 519, 735, 7 9 9 ; V. 51, p. 303; V. 52, p. ¿0, 120.)
C olu m bu s Shaw nee Sc H o c k in g .—Line of road, Columbus,
o ., easterly to Zanesville and southerly to Glouster, Shawnee
and Shawnee Junction, with branches; total, 157 miles, o f which
110 miles are owned and 47 miles leased. This comnanv was formed
in November, 1889, by a consolidation of toe Columbus & Eastern
foreclosed m 1888) and the Shawnee & Muskingum River Railroad.
Lue mortgage (trustee, Metropolitan Trust Company) is for $5,000,000
$1>509>°°0 18 reserved for extensions and may be issued at
In
of road completed and equipped.. Stock authorized,
$6,000,000 (half preferred); outstanding, $4,000,000. The equipment
” °nds are a first lien on equipment, a second hen on the road, and cover
$.£10,000 of the company’s first mortgage 5s, which can only be sold
lor ne-w equipment to be made subject to the equipment bonds* The
Zanesville Terminal Railway is leased for 99 years, and its bonds guar
JSStt&l'
anteed
as to interest. The companies using the Terminal’s property
In year ending June 30, ’90, gross earnings, $842,231; net, $252 858 • pay $2 00
per loaded car. Hatch & Foote, 7 Pine Street, N. Y., fiscal
agents.—(Vol. 50, p. 313,206 ; V. 51, p. 493; V. 52, p. 80.)
From January 1 to June 30,1891 (6 months), gross earnings on 164
miles were $239,519, against $120,958 on 150 miles in 1890.
«,c&
wf.
I j S S V t i & V f i S & a t e C olum bus Southern.—Completed in 1890 from Columbus, Ga., on
ment in connection with the South Carolina Railway. An extension Central
Georgia Railroad, to Albany, Ga., on Savannah Florida &
^ .m i l f s to a connection with the Georgia Carolina * NorthernTnear Western,of88
miles. President, W. B. Lowe.
—-outetandiiig^$5W*000^ m Apn1’ 1891' 8t° Cb autborize<L $2,000,000
C olum bus Springfield Sc C in cin n ati.—See Clev elan d Cin
r.* C incinnati M id la n d .—Owns Columbus. O to cinnati Chicago & St . L ou is .
Midland City, O., 71 miles. Opened in November, 1884. Affords’the
C olum bus & X e n ia .—Owns from Columbus, Ohio, to Xenia, Ohio.
cOTumon^^^orTonn route between Pittsburg and Cincinnati 55 miles. Operated as a division of the Little Miami, and is leased for
$2,000,000; preferred (non-voting), $1,000.000 Tn
fro“ 1D e c e m b e r , 1869, m c o n n e c t i o n w i t h t h a t r o a d , to t o e P i t t s January, 1890, leased for 999 years to Central Ohio, dv which assigna3
, Cmcimmt1 Chicago & St. Louis, which pays 8 per cent on stock.
See V. 51, p.718. The Baltimore ¿TOhio a s s S s The lease is guaranteed by the Pennsylvania Railroad Company. The
° hM) 8 guarantee of principal and interest of the bonds and
^
per cent dividend per annum, 2ig per cent
COB?mon stock. It also assumes the Central Ohio’s guaran March 10 and September 10 and 2 per cent June 10 and December 10.
ty®
3 per cent per annum, payable semi-annually, commencing with
+ C o n c o r d & M o n t r e a l.—Owns from Nashua, N. H., via Concord,
S l e V f f i S S J I X r S t t n f « ‘; r S I 1 da„8S ^ e i i l r ,Sar „ S toW oodsville (nearWells River Junction), 128 miles; Woodsville to
Groveton Junction, 53 miles; Wingroad to Mt. Washington, 20 miles;
Hookset branch, 3 miles; total owned, 204 miles. Leases Concord &
C olu m b u s H o c k in g V alley Sc T o led o .— (See Man i_frame, Portsmouth RR.. Manchester to Portsmouth. N. H., 41 miles, and branch
mam line from Pomeroy, O., to Walbridee O 9,no miicf
i}7118 to Suncook, 7 m iles; Suncook Valley RR., 24 miles; Pemigewasset Val
(Northwest Ohio) Walbridge to Toledof^6 <m i^ ^ t o s m e h e ^ w t ^ f f o ley EE., Plymouth to North Woodstock, N. H., 20 miles; Manchester Ss
Athens, 26im les; Logan to New Straitsville, 13 m ile s T M o ^ ^ C ^ e k North WeareRR., 19 miles; Nashua Acton & Boston RR., Nashua to
Junction to Nelsonvifle, 17 miles; others, 15 W e s ; total,^ 327 ¿R es * Concord, 25 miles; total leased, 136 miles. Operates lines to Belmont.
Jefferson, Kilkenny and Alton Bay, 48 miles. Total operated, 388 miles
C olorado M id la n d .—See A tchison T o p e k a & San ta F e System
^ C o lo m b ia Sc G reenville (S. C . )- (S e e M ap o f Richm ond ,6 West
Po in t Te rm in al.)— Yhe company owns from Columbia to Greenville,
branches to Abbeville and Anderson, 21 miles; total
Laurens Railroad, 31 miles, and leases Blue
Rulge Railroad, 32 miles, and Spartanbifrg Union & Columbia Railroad
99 ]**jj®*. . Total operated, 296 miles. The Greenville & Columbia road
was sold in foreclosure April 15,1880, and reorganization was made
lmder this name. Preferred stock, $1,000,000; common stock $1 ooo 0 0 0 ; par of shares, $100. Due other companies June 30,1890, $447,176
i^ a w ^ A °m m °n stock is pledged by the Richmond & West Point Ter
minal Company, under its collateral trust of 1887, and in Mav 1886
the road was leased to the Richmond & Danville Railroad Company
’
O v T ^ S i S & i n U o 91 ' 6
were ¿ 21,-
S f®
slf?
48
INVESTORS’
SUPPLEMENT.
IV o l . m i ,
Ju l y ,
1891.]
BAILEO AD
STOCKS
AM )
BONDS.
49
Subscriber« w i l l confer a great favor by g iv in g im m ediate notice o f any error discovered in these T a b les.
RAILROADS.
on first page of tables.
Preferred stock (8 per cent guar. G. H. & D.) —
Consol, m ort, guar, princ’l & int. by C. H. & D.<
Toledo D epot,2d mortgage.............................
Dayton <£ Western—1st M., guar. L. M. and C. & X.c
Dec. Oheeap. <£New Orl.—1st M., $20,000 p. m., g .c’
Delaware—Stock—6 p. c. guar, till 1898, P.W.&B...,
Mortgage bonds, convertible, guar., P. W. & B.c*
Del. <£Bound Ur.—Stock—8 p. c. gu. Phila. & Read.
Bonds^Prin d INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due»
Amount Rate Per When
of
of
Par Outstanding
Where Payable, and by Stocks—Last
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Ï42
.32
32
37
iö o
85
” 27
4
1st. mort. on Trenton Br., 2d mort on main line .
:Delaware <&Hudson Canal—Stock..... .................. .
1st mortgage, extended in 1877..........................
Debentures secured by Penn. Div. Bonds..........c'
1st mort. on Pennsylvania Div. ($10,000,000)c&i
Schenectady & Duan. 1st mortgage, interest guar, " 14
Bluff Point Land Improvement Co. 1st M.,guano"
Delaware Lackawanna <6 Western—Stock................
Consol, mort. on roads &equipm’nt ($10,000,000) 288
Plain bonds (not mortgage) convertible................
Del. Maryland & Va.—June. & B.—1st M. to State.. ” 44
Junction & Breakwater 2d mortgage..................c*
44
Breakwater & Frankford 1st mortgage to State..
19
Worcester RR. 1st. M. (s.f. notinoperat’n) gold.c*
35
Delaware <6 New Eng.—Col. Tr„ red. after June ’91 .*
Denver & Bio Qrande—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
1871
1881
1864
1879
1879
1864
1889
1875
1875
1879
1867
1874
1877
1874
1890
$50
50
1,000
1,000
1,000
1,000
1,000
25
500 &c.
100
1,000
1,000
100
1,000
■ 1,000
l.OOO&c
100 &c.
1,000
50
1877
1872
1,000
1860
1879
1,000
1873
1876 50Ó &c.
1889
1,000
100
100
1871 500 &c.
1886 500 &c.
$2,403,243
1,211,250
2,675,000
53,000
225,000
90,000
495,000
m
1,703,257
609,000
1,777,000
1,500,000
277,000
30,000,000
549,000
4,829,000
5,000,000
500,000
300,000
26,200,000
3,067,000
600,000
400,000
250,000
200,000
400,000
2,000,000
38,000,000
23,650,000
6,382,500
28,435,000
2
5
7
7
6
6&7
6 g3
6
2
7
6
1%
7
7
7
6
4
1%
7
7
4
4
4
4 g.
6 g-
A. & O.
Cincinnati.
Q —J . .
do
J. & J N. Y., Kessler & Co.; Cin.
M. & S.
do
doJ. & D. N.Y., Am. Exch.Nat.Bk.
J. & D.
J & J. N. Y., Bank of America.
J. & J.
J. & J.
Dover, Co.’s Office.
J. & J. Phil., Fid. I.T. & S.D.Co.
Q.—F. Phila., 240 So. Third St.
F. & A. Phila., Guar.T.& S.D.Co.
M. & N. Phila., Of., 240 So.3d St.
0,—Mch. N.Y.Of.,21 CortlandtSt.
M. & N.
do
do
A. & O.
do
do
M. & S.
do
do
M. & S.
do
do
J. & J.
do
do
Q .-J . N. Y., 26 Exchange PI.
M. & S.
do
do
J. & D.
do
do
J. & J. Phila,233 So.Fourth St.
F. & A.
do
do
J. & J.
do
do
A. & O.
do
do
J. & D. Philadelphia, Office.
Apr. 1, 1891
July 7, 1891
Jan. 1, 1911
Mch. 1, 1894
Deo. 1, 1909
After 1910
Jan. 1, 1905
July 1, 1921
July, 1891
July 1, 1895
May 17, 1891
Aug. 1. 1905
Nov. 1, 1899
June 15,1891
Nov. 1, 1891
Oct. 1, 1894
Sept. 1, 1917
Sept. 1, 1924
Jan. 1, 1949
July 20,1891
Sept. 1, 1907
June 1, 1892
Overdue.
Feb., 1899
Jan., 1898
April, 1896
June 1, 1899
2ia
Office, 47 Wm. St.. N. Y. Feb. 16,1891
7 g. M. & N. N. Y ., Fourth Nat. Bank. Nov. 1, 1900
do
do
4 g. J. & J.
Jan. 1, 1936
v?16 '^(L8Jiin^ on<?or<\ ic. Montreal railroads were con-1 C um berland Sc P e n n sy lv a n ia ,—Owns from Cumberland, Md.,
sohdated m September, 1889, forming this company. The Boston Con-1 to Piedmont, Md., and several branches, 57 miles. It is owned anff
nnrn
Ar Montreal tyuatat
*pah (ClassT\
.it.Ia/1 f.n
o r nnn+
x. j i X ____ i j j . u
■» « ________ rm
n
cord &
preferred
I)iaisatit
entitled
toA6 nper
cent yearly; then •operated
by Consolidation Coal Company. The new first mortgage bond«
Boston Concord & Montreal new stock (Class II, of which there is were issued to refund bonds maturing. They are guaranteed (endorsed)
$540,400), and old stock (Class III, amounting to $459,600) are entitled by the Consolidation Coal Company—which see. See V. 52, p. 390.
to not exceeding 6 per cent yearly out of any saving which may result Stock, $1,500,000; par, $100. (V. 52, p. 390.)
from the refunding of the present funded and floating debt o f the Boston
C um berland V a lle y.—Owns from Harrisburg, Pa., to Potomac
Concord & Montreal. The Concord stock (Class IV) will receive such
dividends as may be declared aftgr providing for the other dividends. River, Md., 82 miles (and with leased lines operates to Winchester, a
The consolidated mortgage was authorized in February, 1890, to fund total distance of 116 miles). It leases—Cumberland Valley & Martinsthe floating debt (amounting to $1,027,700 June 30, 1890), to provide burg Railroad, 34 miles; Dillsburg & Meehanicsburg Railroad, 9 miles;
for retirement of prior bonds when due, and for improvements. The Southern Pennsylvania Railroad, 21 miles; controls Mont Alto Railroad,
Manchester & Lawrence has instituted suit to recover $1,000,000 18 miles, but accounts are kept separate; total controlled and operated,
165 miles. Of the stock, $975,800 common and $237,200 preferred is
claimed to be due from the Concord Railroad.
In January, 1891, the New Hampshire Legislature authorized the owned by Pennsylvania Railroad Company. Large advances have been
made to branch roads. The Southern Pennsylvania is leased for net
issue of $3,000,000 stock for extensions, improvements, etc.
Dividends—In 1890, on class I. and class IV., 6 percen t; in 1891, earnings; no interest paid on bonds since March, 1875.
Dividends.: In 1880 to 1884,10 per cent yearly; from 1885, to April,
May 1, 3.
Report for 1889-90 was in V. 51, p. 568. From April 1,1889, to June 1891, both inclusive, at rate of 8 per cent yearly.
In 1890 gross earnings on the main line were $919,523; net, $251,650;
30,1890 (15 months), gross earnings were $2,775,602; net, $937,272;
paid interest, $107,638; rentals, $66,527; taxes on capital stock, surplus over fixed charges, $219,989, against $214,281 in 1889.
D an b u ry Sc N orw alk;.—Owns from Danbury, Conn., to Wilson
$89,009; renewals, &c., $262,117; total, $525,300; balance, $411,982,
from which paid dividends, &c., $411,917. (V. 49, p. 341; Y. 50, p. 313, Point, South Norwalk, Conn., 261a m iles; branches to Ridgefield and
422; Y. 51, p. 5 6 8 ; V. 52, p. 349.)
Hawleyville, together, 10 m iles; total operated, 36*2 miles. Leased to
Concord Sc C larem ont (N . H .) .—Owns from Concord to Clare the Housatonic for 99 years from October, 1886, the lessee to pay inter
mont, N. H., 56 miles; branch, Contoocookville to Hillsborough, N. H.- est and 5 per cent per annum on stock.
D an v ille Sc E a s t T ennessee.—Projected from Danville, Va., on
15 miles; leases—Peterboro & Hillsboro Railroad, 18 miles; total oper
ated, 89 miles. Controlled by Boston & Maine, which, with the Boston the Atlantic & Danville Railroad, to Bristol, Tenn., on the East Tenn.
& Lowell, guarantees interest on the bonds under lease of Northern RR. Virginia & Georgia, about 180 miles. Stock authorized, $3,000,000 for
|road m Virginia and $20,000 per mile in North Carolina—par $100.
Stock, $412,100.
Concord Sc P o rtsm o u th .—Owns from Portsmouth, N. H., t o !
liV ?16 mortSaSe*
Manchester, N. H., 40^ miles, and branch to Suncook, 7 miles. The i S o n ia s Ewing, President, New York City. (V. 53, p. 48.)
road was sold to first mortgage bondholders in 1857, and leased to Con- ] D an v ille Sc W e ste rn .—Owns from Danville, Va., to Patrick Court
cord Railroad in 1862 for 99 years. Lease rental is $25,000 a year, * House, Va., 70 miles, narrow gauge. Successor to the Danville & New
River, sold in foreclosure in August, 1889, and purchased in interest of
which gives 7 per cent a year to present stockholder
Richmond & Danville, which guarantees principal and interest of the
C onnecticut Sc P a ssu m p slc.—Owns from White River Junction, bonds.
Stock is $368,600, par $100.
Vt., to Canada Line, 110 miles; leases, Massawippi Valley and branch
D ayton Sc M ic h ig a n .—Owns Dayton, O., to Toledo, O., 141 miles,
(Canada), 37 miles; total operated, 147 miles. Under the lease of Mas
and
leases
Deshler to Findlay, 11 miles. Leased May 1,1863, in perpe
sawippi Railroad the stock of that company is to receive same dividends
as are paid on the stock of the lessee. The lessee holds $400,000 Mas tuity to Cincinnati Hamilton & Dayton. Lease amended January 23,
1870.
The
rental is the interest and sinking fund of debt, and 8 per
sawippi stock not included in the amount outstanding. From January
1,1887, this road was leased to the Boston & Lowell for 99 years on a cent on preferred stock and 3*2 per cent on $2,396,750 common. Profit
to
lessee
in
1885-6,
$215,219; in 1886-7, $276,562; in 1887-8, $363,933;
basis to pay Connecticut & Passumpsic stock 5 per cent per annum for
ten years and 6 per cent thereafter. In October, 1887, the Boston & in 1888-9, $348,068; in 1889-90, $379,494. Gross earnings in 1889-90,
$1,591,123;
net,
$692,294;
surplus over interest, $554,834. Due
Lowell, carrying this road, was leased to Boston & Maine.
Dividends since 1880—In 1881, 5 per cent; in 1882 and 1883,6; in lessees for advances, March 31,1890, $758,405.
.1884, 5*2 ; in 1885 and since at rate of 5 yearly.
D ayton Sc U n io n .—Owns from Dodson, O., to Union City, Ind..
C onnecticut R iv e r.—Owns from Springfield, Mass., to Keene, N. 32 miles; leases Dayton to Dodsdon, 15 miles; total operated, 47 miles,
H., 75 miles; branches, 5 miles; total, 80 miles. Consolidated with Operated by Cleveland Cincinnati Chicago & St. Louis, which, jointly
Ashuelot Railroad in February, 1890. From July 1,1891, to March 31, with the Cincinnati Hamilton & Dayton, owns the capital stock. All
1891 (9 months), gross earnings were $849,786, against $820,593 in surplus earnings over interest goes to a sinking fund for the redemption
1889-90; net $352,173, against $361,215; surplus over charges, $301,- of bonds at not above 100. Capital stock $86,300; par, $50. In yea*
540, against $304,198. In year ending June 30, 1890, gross earnings ending June 30,1890, gross earnings, $156,119; net, $52,559; surplus
were $1,089,372; net income over rentals, interest, &c., $206,400, over charges, $16,954.
D ayton Sc W e ste rn .—Owns from Dayton, O., to State line, Tnd
against $218,409 in 1888-89. Dividends since 1876 have been at the
rate of 2 per cent quarterly. Notes payable outstanding June 3,1891, 37 miles, and leases 4 miles to Richmond, Ind. Leased from January 1,
1865,
for 99 years, renewable forever, to Little Miami, and carried with
$570,000. (V. 50, p. 245, 662; V. 51, p. 171, 3 8 2 , 681; V. 52, p. 239,
that road in the general lease to the Pittsburg Cincinnati & St. Louis.
718.)
The lessees, Little Miami and Pittsburg Cincinnati & St. Louis, are vir
C onnecting (P h ilad elp h ia ).—Owns from Mantua Junction to tual owners and are answerable for all obligations. Of above bonds
Frankford Junction, Pa., 7 miles; total mileage including 2d, 3d, 4th $32,000 are 7s.
tracks and sidings, 42 miles. Leased to Philadelphia & Trenton for
D ecatur Chesapeake Sc N ew O rleans.—Projected from Deca
999 years, and with that road operated by Pennsylvania Railroad. tur. Ala., to Gallatin or Nashville, Tenn., of which 34 miles from Ala
Rental $139,993, which pays 6 per cent on $1,278,300 capital stock bama State line northward are completed. Was under construction from
(par $50}—owned by Pennsylvania Railroad.
Decatur, Ala., to Shelbyville, Tenn., 125 miles. In December, 1890,
C orning C ow anesque Sc A n tr im .—Owns from Corning, N. Y., W. L. Frierson, of Shelbyville, was appointed receiver, and in January,
to Antrim, Pa., 53 miles; branch to Harrison Valley, Pa., 32 miles; 1891, the road was ordered sold. Sale is to take place Aug. 10,1891.
total, 85 miles. Consolidation of several roads in 1873-74. Leased to A compromise with the creditors was proposed in July, 1891—see plan
and operated by the Fall Brook Coal Company, together with 7 miles V. 53, p. 58, See V. 52, p. 80. Mortgage is for $3,000,000. Stock
owned. Rental, $150,000, equal to 6 per cent on common stock and 12 authorized, $3,000,000—$20,000 per mile. (V. 49, p. 760; V. 52, p. 80;
per cent on preferred stock; dividends paid quarterly, March 31, &c. V. 53, p. 58.)
Stock—common, $1,500,000, and preferred, $500,000, par $50. The
D ela w a re.—Owns from Delaware Junction(PhiladelphiaWilmington
coal line o f Philadelphia & Reading and New York Central is over the & Baltimore), Del., to Delmar (Maryland line), 84 miles; branches, 16
road of this Company, which jointly with said companies guarantees the miles; total operated, 100 miles. Opened 1855-60, and leased for 21
bonds of the Pine Creek Railroad Company. In March, 1891, $180,000 years from 1876 to the Philadelphia Wilmington & Baltimore Company:
bonds were called for payment, reducing bonds outstanding to $1,070,- rental, 30 per cent of gross earnings, .but stock must have 6 per cent. If
000, See V. 52, p.27.
8
’
the 30 per cent is more than sufficient to pay charges and 6 per cent
In year ending June 30, 1890, gross earnings were $692,762; net, dividend, the residue goes to lessee for advances (if any), and any bal
$135,929; deficit to lessee, $28,984. In year ending Sept. 30,1889, ance is divided equally between lessee and lessor. Of the stock $744,350
surplus to lessee, $3,709. George J. Magee, President, Coming, N. Y. is owned by Philadelphia Wilmington & Baltimore. In year ending Octo
—(V. 52, p. 427.)
ber 31.1890, gross earnings were $857,777; net, $132,049; interest,
C oshocton Sc Sou th ern .—Owns Coshocton, O., to Zanesville, dividends, etc., $148,634; deficit, $16,584, payable by lessee as per lease.
about 30 miles; completed in June, 1889. Operated by Cleveland &
e la w a r e Sc R o u n d B r o o k .—Owns from Bound Brook (Central
Canton under a verbal agreen.ent. President, J. W. Cassingham, Bos ofDNew
Jersey) to Delaware River, 27 miles; branch to Trenton, 4 miles;
ton, Mass.
other, 3 miles: total operated, 34 miles. In connection with Central of
C ovin gton Sc M acon»—See M acon & N o r th e r n .
New Jersey and North Pennsylvania forms a line between New York
Cresson Clearfield County Sc New Y o r k Short R o u te .— and Philadelphia. In May, 1879, the property was leased for 990 years
Owns from Cresson, Pa., to Irvona, Pa., 27 miles, and branch to Rich to the Philadelphia & Reading Railroad Company—the lessee paying in
land Mines, 2 miles. Stock, $1,000,000. In 1889 gross earnings were terest and 8 per cent on stock after May, 1883. Gros ^earnings in 1889,
$90,541; net, $47,034; paid interest on bonds, $45,000.
$851,092; net over expenses and taxes, $382.013
2 0
INVESTORS’
SUPPLEMENT.
V o l . L u ll
J uly , 1891, J
KAILROAD STOCKS A N D
BONDS.
51
Subscribers w ill c o n fe r > great favor byftglvlng7im m ediate n o tlc e lo f any error discovered On these T a bles.
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles
pal, When Due.
Amount Rate Pei
For explanation of column headings, <fcc., see notes of
of
Par
When
and by Stocks—Last
on first page o f tables.
Road. Bonds ! Value. Outstanding Cent. Payable Where Payable,
Whom.
Dividend.
Denver <&Rio Grande—(Concluded.)—
Improvement mortgage ($5,000 per mile) g. .c*<fcr 1,610 1888
$500 $8,050,000
5 g. J. & D. N.Y., Fourth Nat. Bank. June 1, 1928
Des Moines <£Ft. Dodge—1st mortgage, interest guar
88 1874
1,000
1,200,000
4
J. & J.
" N.Y.,Chic.R.I.&Pac.Co. Jan. 1, 1905
1st mortgage, income, interest guaranteed__
88 1874
1,000
1,200,000
2ia J. & J.
do
do
June 1, 1905
Mortgage on extension, interest guaranteed. .
56 1881
1,000
672,000
4
J. & J.
do
do
June 1, 1905
Des Momesd&No.—lstM.for$832,000($20,000p.m.)c*
42 1890
1,000
740,000
5 g. J. & J. N. Y., Central Trust.
Jan. 1, 1940
Des Moines Union—1st mortgage . . .................. .
M. & N. N. Y., Central Trust.
Detroit Bay City dt Alp.—1st mortgage, gold........ c* 233 1883
1,000
2,500,000
6 g. J. & J. N. Y., Farm. L. & Tr. Co. Jan. 1, 1913
Detroit Grand Haven <&Mil.—1st equip, m. g. gu..e* 189 1878
1,000
2,000,000
6 g. A. & O. NYAg.CanBk.Com&Lo. Nov. 14,1918
Consol, mort. gold, guar, by Or. Trunk of Can.c* 189 1878 200 &c.
3,200,000
do
do
6 g A. & 0.
Nov. 15,1918
Detroit Hillsdale <6 S. W.—St’k,4p. c. rent’l,L.S.&MS.
65
100
1,350,000
2
J. & J. N. Y., Farm. L. & Tr. Co. July 5, 1891
Detroit Lansing <6Northern—Stock, com m on.. . . . . .
100
1,825,600
3
F. & A.
Boston.
Feb. 15, 1887
Preferred sto ok....................................... ......... .
100
2,510,000
313 F. & A. Boston, Of., 50 State St. Feb. 15, 1888
Ionia & Lansing 1st M.,extended in 1889,guar.c*
55 1869
1,000
770,000
5
J. & J. Boston, 2d Nat. Bank, July 1, 1899
D.L. & N. consol, mort. (1st mort.on 167 m.)...c* 222 1877 500 &c.
2,672,000
7
J. & J.
do
do
Jan. 1, 1907
Saginaw & Western 1st mort., endorsed, gold..c*
43 1883
1,000
566,000
do
do
6 g. J. & J.
July 1, 1913
Gr. R. L. & D. 1st ($20,000 p. m.) endorsed.. . . . . c*
55 1887
1,000
1,108,000
5
M.
&
S.
do
do
Sept. 1, 1927
Dubuque dt Sioux City—Stock................................
524
100
8,000,000
1
N. Y., Office, 216 B’way. June 30,1891
1st mortgage 2d division....................................
43 1864 500 &c.
586,000
7
J. A J.
do
do
July, 1894
Gen. mort. for $3,000,000, held by 111. Cent.,g.c&r 143 1888
1,295,000
5 g. J. & D.
do
do
June 1, 1938
Iowa Falls & Sioux City 1st M., Ia. F. to S. City..! 184 1869 50Ó &c.
2,339,500
7
A. & O.
do
do
Oct. 1, 1917
Cher & Dak. and Cedar Rap. & Chic. 1st morts... 197 1888
3,930,000
5
J. <fc D.
do
do
Dec. 1, 1935
Duluth <£ Iron Range—1st m ortgage...,............c.fer 116 1887 l.OOÓ&c 4,531,000
5
A. & O. N. Y., Office, Mills Bldg. Oct. 1, 1937
Dul. Red W ing<6So.—1st M.,g.,$20,000 per mile.c*<fcr
1888
1,000
J.
&
J.
New
York
City.
(?)
5
gJan.
1, 1928
Duluth South Shore <6 Atlantic—
Marquette & Onton. 1st mortgage, not draw n___
50 1872 100 &c.
1,380,500
8
J.
&
D.
N.
Y.,
ChaseNat.
Bank,
June
1,
1892
Marq. H. & On. Mort.,1st on 40 miles, red. at 100
90 1878
1,000
576,000
6
M. & S.
do
do
Mch. 1, 1908
Mortgage. 1st on 45 miles, red. at 105........ c*&r
78 1883
1,000
1,500,000
6
J.
&
D.
do
do
June
1,
1923
Gen. Mort.—1st. M. on Mar. & West,, 21 m.. . . . c* 156 1885
1,000
1,400,000
6
A. & O.
do
do
Apr. 1, 1925
Duluth South Shore & Atlan., 1st mort., gold, .c&r 366 1887
1,000
4,000,000
do
do
5 g- J. & J.
Jan. 1, 1937
1st consol, mortgage, gold, $ 20,000 per m..c*&r 383 1888
1,000
3,800,000
5 g. J. & D.
New York City.
June 1, 1938
New 1st consol, most., interest guaranteed. c*<fcr 545 1890 100 <fcc.
(?)
d g. F. & A. New York or London. Aug. 1, 1990
Duluth dt; Winnipeg.—lstM.for$7,000,000,gold.c*<fer
1889
1,000
1,600,000
5 g- J. & J.
July 1, 1929
D e la w a r e & H u d s o n —rSeelfap.;—OwnscanalfromRondout, N.Y.INCOME ACCOUNT.
to Honesdale,Pa., 108 miles; completed in 1828. Also owns the follow
1887.
1888.
1889.
1890.
ing railroads, viz. : Lackawanna & Susquehanna—Nineveh, N. Y ., to Jeffer
$
$
$
$
son Junction, Pa., 22 miles; Valley RR.—Carbondaleto Scranton, Pa., 17 Net receipts.......« ....... .
8,341,796 8,718,682 7,370,459 7,948,767
miles; Gravity RR. (4feet3 inohgauge)—OlyphanttoHonesdale, 56 miles Interest and rentals....... 5,203,419 5,218,419 5,222,375
5,328,494
Schenectady & Meohanicville—East Glenville to Coons, N. Y., 10 miles
Cherry Valley Sharon & Albany—Cobbleskill to Cherry Valley, N. Y., 21 Balance, surplus............. 3,138,377 3,500,263 2,148,084
2,620,273
miles; Schenectady & Duanesburg—Schenectady to Duanesburg, 14 Dividends ( 7 per cen t... 1,834,000 1,834,000
1,834,000 1,834,000
miles; Adirondack RR.. 57 miles; total owned, 197 miles.
»¿Leases : Albany & Susquehanna—Albany to Binghamton, 142 miles ; Balance after dividends. 1,304,377 1,666,263
314,084
786,273
New York & Canada—Whitehall, N. Y., to Rouse’s Point, N. Y., 113 —■?
50, P. 1 7 0 . 245, 703, 707; V. 51, p. 172; V. 52, p. 2 0 2 , 280, 707.)
miles, and branches, 37 miles ; Rensselaer & Saratoga and leased lines_
B i i a w a r e M a r y la n d & V ir g in ia .—Road extends from Harring
Albany, N. Y., to Lake Champlain, N. Y., and branches, 192 miles;
Utica Clinton & Binghamton and Rome & Clinton, sublet to New York ton to Rehoboth, Del., 44 miles; Georgetown to Franklin City, Va., 54
Ontario & Western, 44 miles; Union Railroad—Green Ridge to Wilkes- miles; total, 98 miles. In July, 1885, the company passed into control
barre, Pa., 20 miles; other lines, 4 miles, and Jefferson Railroad (track of the Philadelphia Wilmington & Baltimore Railroad, and became part
age)—Jefferson J unction to Carbondale, 35 miles. Total controlled, 727 f the Pennsylvania Railroad system. In May. 1891, it was agreed
that of the $600,000 debt due the Statp of Maryland, the Philadelphia
miles* but only 686 operated in Delaware & Hudson system.
This company was chartered April 7,1823. It is among the largest Wilmington & Baltimore should pay $215,000 in cash and that the
miners and carriers of anthracite coal. In June, 1889, the Adirondack balance of $385,000 should be extended in a 3 per cent mortgage for 40
years, but redeemable at company’s option after January 1,1895. See
Railroad (60 miles) was purchased.
Of the Rutland Railroad stock Delaware & Hudson owns $3,000.000 V. 50, p. 498. In year ending Ootober 31,1890, gross earnnigs $207,351; net, $31,941, against $14,839 in 1888-89; deficit under interest.
preferred and $1,000,000 common.
’
The Delaware & Hudson stock was increased to $30,000,000 to pay off $18,547. (V. 52, p. 198.)
the bonds due in 1884 and 1891. Of this the $5,500,000 in treasury was
D e la w a r e & N e w E n g la n d .—'This company owns $4,250,000 o f
it8US5 at75 to stockholders ot Oct. 15,1890. The proceeds, together.with the $5,000,000 Poughkeepsie Bridge Co. stock, $1,600,000 of the Cen
the $25 per new share appropriated from surplus are to be used in retiring tral New England & Western (whole issue) and $900,000 Hartford A
$5,500,000 bonds due January and November, 1891. (V. 51, p. 383 )
Connecticut Western. The collateral trust bQnds of 1889 are secured by
The Perfhsylvania Division bonds cover coal lands, oollieries, rail deposit of $4,000,000 Poughkeepsie Bridge stook and $1,597,400 Cen
roads, canal, equipment and all other property in Pennsylvania.
tral New England & Western stook. Stook, $7,500,000 (par $100) is
Dividends since 1880: In 1881, 4 ^ ; in 1 882,7; in 1 883,7; in 1884 held by trustees to preserve unity of system, and trustees’ certificates
7 ; in 1885, 6 ; in 1886 and 1887, 5 ; in 1888, 6 ; in 1889, 7; in 1890. issued therefor are dealt in on the market. President, J. W. Brook.
7 ; in 1891, March 1 6 ,1 \ ; June 15,1%..
Philadelphia. (V. 49, p. 82, 654; V. 50, p. 275; V. 51, p. 876.)
Price o f stock: In 1883, 102ia@112i8; in 1884, 67® 114; in 1885,
D e n v e r A R t o G r a n d e .—(See Map)—Owns from Denver City,
66is@100ia; in 1886, 8714@ 10812 ; in 1887,
in 1888,103® CoL, via Pueblo, Salida, Gunnison, Montrose and Grand Junction, to
134; in 1889, 130® 156; in 1890, 120® 175; in 1891, to July 17 the western boundary of Colorado, where it connects with the Rio
inclusive, 126®13958.
Grande Western to Salt Lake City and Ogden. Branohes run to LeadReport for 1890 was in Chronicle, V. 52, p. 319.
ville, Dillon, Rifle Creek, Crested Butte, Silver Cliff, Chaffee, Aspen.
INCOME ACCOUNT.
Ouray and Hot Springs; also from Pueblo to Silverton, via Cuchara.
Alamosa and Durango, with branches to El Trinidad, Española, Del
1887.
1888.
1889.
1890.
Norte and Wagon Wheel Gap, etc.; total, January, 1890,1,551 miles.
Receipts—
$
$
$
$
The standard gauge and road with third rail (completed and under con
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 struction) embraces a considerable part of the mileage. In Novem
1890, a through standard gauge route was opened between Denver
From miscellaneous..
461,507
552,892
822,300
911,968 ber,
and Ogden over this road, the Rio Grande Junction (which see) and the
Total..................... 19,602,644 20,729,180 18,957,593 19,382,907 Rio Grande Western. See V. 51, p. 680. Completed since January,
Operating expenses.. 13,388,570 14,044,710 12,992,868 13,303,234 1890, Hot Springs to Alamosa, Col., 54 miles; other branches, 16 miles.
See V. 50, p. 589.
The former Denver & Rio Grande Railway was foreclosed July 12,
Net........................ 6,214,074 6,684,470 5,964,725 6,079,673
Int., taxes & rentals.. 3,303,768
3,340,336 3,426,829 3,511,333 1886, and reorganized as the Denver & Rio Grande Railroad.
The Rio Grande Junction Railway is leased jointly by this company
the Colorado Midland, and its bonds guaranteed.
Balance for stock. 2,910,303
3,344,134 2,537,896
2,568,340 and
Of the consolidated gold bonds (Uaitea States Trust Company, trus
—(V. 50, p. 1 7 2 , 2 0 4 , 7 0 3 ; V. 51, p. 383, 569, 753, 910; V. 52, p.202, tee) $6,382,500 were reserved to retire the prior bonds when due. See
3 1 9 , 761.)
abstract of mortgage in C hronicce , V. 47, p. 228.
D elaw are L a ck a w a n n a & W e ste rn .—(See Map;.—This com
In June, 1888, the improvement mortgage for $5,000 per mile was
pany operates under lease an extended system of roads in New York, issued for laying third rail and for other improvements; trustee, United
Pennsylvania and New Jersey. Owns from Delaware River (N. J. line) States Trust Company. See V. 50, p. 422, 589. Mortgage abstract in
to New York State line, 115 miles; branches—Scranton to Northumber C hronicle , V. 47, p. 229.
land, 80 miles; branches to Winton, Storrs, Keyser Valley, etc., Pa 17
Dividends on preferred stock: In 1887, 2*3 per cent; in 1888, 2 1« per
miles ¡ leased lines in New York—New York Lackawanna & Western cent in cash and It* in scrip, subsequently redeemed in cash; in 1889,
Railroad, 214 miles ; Cayuga & Susquehanna Railroad 34 miles; Greene nil: February, 1890, If*; August, 1^: in 1891, February 16, 2 ^ .
Railroad, 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica Chen
Priceof commonstocksincereorganization: In 1886,1 4 % ® 3 5 i (assess
ango & Susquehanna Valley Railroad, 97 miles; Valley Railroad, 12 ment paid); in 1887, 2012®323t; in 1888,15®23; in 1889,
in
miles; controls and operates—Syracuse Binghamton & New York, 81 1 890,14^ ® 2178; in 1891, to July 17, inclusive, 15®2038.
miles; leased lines in New Jersey—Chester Railroad, 10 miles; Morris &
P riceof preferred stook: In 1886, 5 3^ 637s ; in 1887, 5278®63%; in
Essex, 120 miles ; Newark & Bloomfield, 4 miles ; Warren Railroad, 18 1888, 4314®55%; in 1889, 42fi® 5278; in 1890, 45®611a; in 1891, to
miles; Sussex, 30 miles ; Passaic & Delaware and extension, 22 miles* July 17, inolusive, 44J3® 6378.
total operated, 900 miles.
From Jan. 1 to May 31,1891 (5 months), gross earnings on 1,600
Formerly paid 10 per cent dividends, but in the dull times 1876 to miles were $3,151,818, against $3,134,244 on 1,496 miles in 1890; net,
1880 no dividends were paid; in 1880 3 per cent was paid; in 1881. 6 %; $908,180, against $1,206,319.
in 1882,1883 and 1884, 8; in 1885, 7% ; from 1886 to July, 1891, both
Fiscal year will hereafter end June 30. Report for 1889 at length in
Inclusive at rate of 7 per cent per annum.
Chronicle V. 50, p. 520. The figures for 1890 below are offlolaL
1887.
1888.
1889.
1890.
?took in i#®*» 86^®133!8; in 1885, 8 2 ^ 2 9 % ; in 1886.
$
$'
$
$
L887>
in 1888, 123^®145ie; in 1889, 134*)
®Â .V ®. 1890,12338® 14913 ; in 1891, to July 17, inclusive, 131®1403o. Gross earnings................... 7,983,419 7,668,654 8,046,603 8,875,786
On the leased lines from January 1 to March 31, 1891 (3 months), Net earnings........ ..............*3,283,369 2,563,972 3,332,410 3,674,166
§noSo l « rnm? 8 T ^ $ . 6A 57’078' against $5,939,242 in 1890 ; net, $3,f 1 ^ 8 4 ^ 6 ^ aïnSt ^2’9±7,918 ’ 8UrPlus over charges, $1,470,039, against Interest*on”bonds............. 1,405,775 1,492,615 1,654,675 1,811,060
Taxes and insurance....,« 290,933
345,550
320,068
309,955
_T h e report for 1890 was in Ch ronicle , V. 52, p. 202.
Dividend onpref. stock... 1,182.500
295,’625
t . . ..........
650,375
Betterm
ents.....................
250,524
240,906
240,000
265,526
EARNINGS AND EXPENSES.
Miscellaneous...................
16,609
40,551
52,434
31,780
1887.
1888.
1889.
1890.
T o t a l........ ......... ......... 3,146,341 2,415,247 2,267,177 3,068,700
Gross reo’ts all urces.. 39,845,857 43,232,422 38,247.622 40.688-645 Surplus........ ..............
148,725 t l ,065,233
605,460
137,028
Operating expenses. ... 30,694,000 33,546,135 30,653,586 32 40» 859
* includes $41,997 other receipts, t From the surplus of 1889 l 1* per
Betterments, equip., &o..
810,061
967,605
223)577
24o)oi9 cent was paid on preferred stock February, 1890.
—(V. 50, p. 106, 275, 3 1 2 , 391, 422, 500, 5 1 7 , 5 2 0 , 589, 706, 770: V
Total expenses............. 31,504,061 34,513,740 30,877,163 32 739 878 51, p. 680; V. 52, p. 80.126,762.)
Net receipts..................... 8,341,796_8,718,682^,7,370,459' 7)948)767
D e n v e r T e x a < & F o r i W o r t h . —S ee U n io n P ag . D e n v e r a i G ulf
INVESTORS’
SUPPLEMENT.
[Y ou u n .
July, 1891. |
RAILROAD STOCKS AND
RONDS.?
53
54
INVESTORS’ SUPPLEMENT.
Subscribers w ill confer a great favor by g iv in g
________________ _____ ______ ___ ——!—r------------ :
RAILROADS.
Miles Date
of
For explanation of column headings, &c., see notes of
Road. Bonds
on first page of tables.
Dunkirk Allegh. Val. ti Pittsburg—1st mort., gold.c
2d and 3d mortgages ($200,000 only are 3d M.).c
East Broad Top—1 st mortgage. . . . . . . . . . . . ------- - --r
East Pennsylvania—Stock 6 p.c.gu.999 yrs.Pmi.&K.
New 1st mortgage............. ............................- M
East Tennessee Virginia & Georgia—Common stock.
1st preferred stock (5 per cent non-cumulative)..
2d preferred stock (5 per cept^^-cu m u lative)..
OldlstM.s.f. (Bristol,Tenn., viaChat. to Dalton, ua)
Cons.M.,divis’ al,g.,(Bristol,Tenn.,toSelma,Ala.)c
Ala Cent.—1st M., Selmato Meridian,guar.. . . . c
E Tenn.Va. & Ga. consol. M., g. ($20,000,000) .c&r
1st ext. M., g. ($20,000 p. m.). . . . . - . . . . . ------ c*r
Impr. and equip, mort. for $6,000,000, gold.c&r
Cincinnati Extension Collateral Tr., guar., g _c
General mortgage for $15,000,000, gold... .c&r
Knoxville & O ln o -ls t mortgage, gold guar.ji &r
East & West Ala.—1st cons. M., g. ($15,000 p. m.) c
Eastern (N. H .;—St’k ^ p - C . ren’l till 1938,E. Mass.
Eel R iv er- Stock, 2 (to 3) p. c., guar.tyW ab. West.
Elgin Joliet & Eastern^-1st M. for $10,000,000 g..c
Elizabeth Lex. <£•Big Sandy—IstM ., g., s^f^not dr.c
Elmira Cortland & Northern—1st pref. M., gold, .c
M m iraALake^(M ario—Sodus Bay & So.—1st M .,g.c
Elmira & W illiam sport-St’k, com., 5 p. c. ren 1, N.C.
Preferred stock, 7 p. c. rental, 999 yrs., No. Cent.
1st mortgage..................... - ...................................;;
Income bonds, 999 years to ru n.. . . . ---------- -V
Empire & Dublin—1st M., g. ($320,000) $8,000 p^m.
Emedc Pitts.—Stock, 7 P- 0- rental,999 yrs..PennCo.
Consol, mort. free of State tax (for $4,500,000) .c
90
90
30
36
36
242
552
95
,083
237
,083
66
119
16
94
165
110
120
120
34
76
76
76
' 3Ó
85
81
Im m ediate notice o f any error discovered In these^Tables.
\Bonds—Princi
~
~
! ~
IBonds—.
INTEREST OR TiTT7rmfwna
DIVIDENDS.
pal,When Due.
Size, or
Amount
j
j
ate
p
er
when
Where
Payable,
and
by
Stocks—Last
Par
Whom.
Dividend.
Value. Outstanding cent. Pavabl
1870
1872
1873
$1,000
1888
1,000
1870
1880
1879
1886
1887
1888
1890
1890
1885
1886
1897
1872
1884
1884
1884
1860
1863
1889
1868
[V ol. LIU.
1,000
1,000
50
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
1,000
50
50
1,000
500
1,000
50
1,000
$2,000,000
7 g. J. & D. N. Y., N. Y. Cent.& Hud.
do
do
A. & O.
7
900.000
J. & J. Jan., 1885, last paid.
4
500.000
J. & J. Phil., Phil. & Read. RR.
3
1,714,950
do
do
495.000
4 g- M. & S.
27.500.000
Office,
80
Broadway.
11, 000,000
18.500.000
J. & J. N. Y., Chase Nat. Bank,
7
3.123.000
do
do
J. & J.
5
3.106.000
do
do
J. & J.
6
1, 000,000
do
do
M. & N.
5
12.770.000
do
do
J. & D.
5
4.740.000
do
do
M. & S.
5
5.500.000
do
do
F. & A.
5
6 , 000,000
do
do
J. & D.
5
720.000
do
do
& J.
6
2, 000,000
J. & D. Last paid Dec., 1887.
6
1.725.000
750.000 See rem. J. & D. Boston, by Treasurer.
A. & O. Boston, by Treasurer.
1
3.000.
000
5.479.000
5 g. M. & N. N. Y., Drexel, M. & Co,
N. Y., Mills Building.
3.282.000
6 g- M. &' S. N.
Y., 192 Broadway.
6 g. A. & O.
750.000
do
do
A.
&
O.
1.250.000
5 gY., Nat. Bank Com.
500.000
5 g- J. & J. N.
Phila.,
Penn.
RR.
Co.
M.
&
N.
2^â
500.000
do
do
3ia J. & J.
500.000
do
do
J. & J.
1.000.
000 6
do
do
A. & O.
5
570.000
240.000
6 g- J. & J. N. Y., Union Trust Co.
Q .-M .
1,998,400
1%
do
do
J. & J.
7
2.109.000
June 1, 1900
Oct. 1, 1900
July 1, 1903
July, 1891,
Mch. 1, 1958
Dec. 15,1890
July 1, 1900
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
June, 1891
Apr. 5, 1891
Nov. 1, 1941
Mch. 1, 1902
Apr. 1, 1914
Apr. 1, 1914
July 1, 1924
May 1, 1891
July 1, 1891
Jan. 1, 1910
Oct. 1, 2862
Jan. 1, 1919
June, 1891
July 1, 1898
D u !u tli & Ir o n R a n g e .—Owns Duluth to Ely, Mum., 116 miles.
-n*>o TinincK A- F o rt H odge.—Owns from Des Moines to Fort Sold to a syndicate in 1887, and above mortgage was authorized at the
D odge,la,, 87 miles, with an exfension 56 miies to Riit^en.coim eeting , rate of $25,000 per mile for construction and $7,000 for equipment, the
with Chicago Milwaukee^St. Paul^ Common
^ t’Q tll’e Chicago Metropolitan Trust Co. of N. Y. being trustee. There are also $3,500,000
of income certificates and the stook is $500,000. There isa land grant from
Minnesotaof about506,000 acres. See V. 51, P-875. The Minn. Iron Co.
owns the stock, the income certificates and $400,000 bonds. In 90 gross
andextension bonds, and 2 ^ per cent per annum on the incomes.
earnings were $1,114,678; net, $575,203; surplus over charges andQim
Ar iv o r t b e r n .—Owns from Des Moines to Boone, provements, $330,744. In 1889, gross, $1,019^988; net, $^34,990,
t
Successor to the St. Louis Des Moines & Northern, surplus over fixed charges, $209,482. H. R. Bishop, 15 Broad St., N
«oldinforeclosure^N ov. 22, 1889, and made standard■gauge. Stock Y., President. (V. 50, p .7 1 ; V. 51, p. 875.)
non nno- outstanding, $832,200; par $100. From Jan.
D ul utli R e d W in g & Sou th ern .—Projected from Duluth via
1"to March H ' 1891 (3 ’ months), gross earnings were $24,087, against Red Wing, Minn., and Sioux City, Iowa, to a point opposite Omaha, Neb.
Under
construction from Red Wing southerly. Trustoeof mortgage is
$20,034 in 1890, net, $7,419, against $3,690.
.„ « * u a v City Sc A lp en a .—Owns from Alger, on Michigan Central Trust Company. President of Company, F. W. Hoyt.
D u lu th South Shore & A tla n tic .—Operates Duluth to Sault
Central Railroad, to Alpena, 105 miles; Loon Lake Branch, 29 miles;
Mud Lake Branch, 21 miles; other branches, 78 miles; total road, 233 Ste. Marie, 411 miles (of which 44 miles from Duluth to Iron River is
^Oes Has ^ traffic contract with Michigan Central. Stock authorized used in common with Northern Pacific); ‘“Soo’ Junction to'
S i 000,000; issued, $1,670,000; par, $100. A dividend of 4 per cent 43 miles; other lines, 135 m iles; total, 589 miles. At Sault Sto. Marie
connection is made by bridge with the Canadian Pacific. Purchased at
was n ^ d January 3,1888, and of 2 ^ per cent February 10,1891.
PYom Jan 1 to May 31 (5 months), in 1891, gross earnings were iudicial
sale October
20,1886,
Mackinac w
& Marquette
__ _ ____
ulU'UvJl A
j\Jf JLOOvJj the
111CDetroit iTx«vnj.iiwv
_ ., Rad-,
_____ __ m
i Marquette U
ah rrVi+zvn A
it.DTlTl Railroad.
K.9.1 TOiliU.
road and-i property.
The
Houghton
&r ilDTATl
Ontonagon
$198 974 against $227,079 in 1890; net, $79,915 against $111 >525. d
t« i ftQO ¿ross earnings, $523,037; net, $217,394; interest, $150,000; 160 miles, was leased in perpetuity, but in 1890 the lease
rescinded
f f i v i l f n d ^ per cent), $41,750; surplus, $25,644 In 1889 gross, and all the company’s property, except its franchise, sold to the Duluth
$487,209; neti $196,418. V. 50, p. 174, 73o; V. 51, p. 113; V. 52, P-320.) South Shore & Atlantic, which assumes its debt and gives new consols
D etroit G rand H a v en & M ilw a u k e e .—Owns from Detroit, in exchange for its stock. See abstract of first mortgage, V . 45, P- 274.
In Julv, 1888, a controlling interest m the Duluth South Shore & At
Mich to Grand Haven, Mich., 189 miles. This is a reorganization of the
Detroit & Milwaukee, which was sold in foreclosure September, 1878. lantic stock was sold to Canadian Pacific parties. Common stock is
$12,000,000; preferred, $10,000,0 0 0 ; par both
The bonds are guaranteed by the Grand Trunk of Canada,
1889 offered its 4 per cent debenture stock m exchange for them, $500 is 6 per cent, non-cumulative. Car trusts August, 1890, $520,325 at o
fllOO) bond for *118 stock. Stock, $1,500,000; par, $50. Real estate
PYhe*firstconsolidated mortgage of 1890 has interest at 4 per cent,
to y A i®
mFrom Jan ^1 t o ’ May 31,1891 (5 mos.), gross earnings were £90,489, guaranteed by Canadian Pacific. The amount
» ^ ^ £ 8 7 955 in 1890; net, £16,290, against £14,969. Gross earnings §20,000,000 on the 580 miles now or hereafter owned, and $20,000 per
f^lRftO £232 772; net, £55,271; deficitunderinterest, £16,891 (against mile of new lines in excess of 580 miles. Of this $20,000,000 there
were reserved $12,656,000 bonds to retire at or ^ r e maturity all the
£19,131 in 1889)-paid by Grand Trunk Ry. Co.
prior bonds, $3,308,000 to exchange for Marquette Houghton & Onton
« ’ . , „ 1« H illsd a le & Sou th w estern .—Owns from Ypsilanti, agon stock and $3,342,000 to build 35 miles of road from Iron R iver.
Mich* to Bankers, Mich., 65 miles. The Detroit Hillsdale & Indiana to a point 6 miles east of Superior, Wis., for terminals, to pay floating
w ad was sold in foreclosure Jan. 28,1875, and this company organized
bv thebondholders. Leased in perpetuity from July 1,1881, to the Lake
From January 1 to April 30,1891 (4 months), gross earnings on 571
Shore & Michigan Southern Co.; the rentalis $54,000per year—4 per cent. miles were $486,496, against $497,631 on 565 miles m 1890.
D etroit L a n sin g & N orth ern .—Owns from Grand Trunk JuncIn 1890 gross earnmgs were $2,241,097; net, $818,393. in I 8»y
Mich to Howard City, Mich., 157 miles; branches—Stanton Junc gross, $1,97^,350; net, $829,474. ( V . 49, p . 2 1 ; V . 50, p . 622, 874.)
tion to Bi^’RaffidsT Mich., 63 miles; Belding Branch l ^ miles; total
D u lu th T ran sfer R a ilw a y C om p an y.—Owns terminal rail
owned 222 miles. Leases: Grand Trunk Junction to Detroit, 3 miles; way, etc., at and near Duluth. In July, 1891, a mortgage was recorded
Lansing to North Lansing, 1 mile; Saginaw & Western RR^-Alma to for $2,000,000 to the Metropolitan Trust Co. of New York. This mortTTowara Citv. 43 miles; Grand. Rapids Lansing & Detroit R a ilroa d - eaee win enable the company to build boats and wharves, equip its
Grand Rapids to Grand Ledge, 53 miles, and branch, 2 miles; total, 323 lines, and furnish cheap terminal facilities to all railroads entering or
■miles • also operates Saginaw Valley & St. Louis, 45 miles, and pays desiring to enter Duluth.
Interestonitsdebt, but reports earnings separately. The Detroit Lans
D u lu th Sc W in n ip e g .—Owns road completed from Cloquet on
ing A Lake Michigan was foreclosed in 1876 and this company formed,
d iv id e n d s on common stock since 1 8 7 9 -In 1880,6; in 1883,6; in 1884^ St. Paul & Duluth (27 miles, from City of Duluth) northerly, 81 miles.
Extension
to a connection with the Duluth Transfer Railway, 16
6 - in 1887, 3 ; in 1888 and 1889, nil. On preferred stock in 1879, 9 ^
per cent; from 1880 to 1884, inclusive, 7 per cent; in 1885,5^; m 1886, miles, is under construction. North Star Construction Company of
Baltimore
is
building the road. From January 1 to June 30,1891 <6
Sin- io !8 8 7 7• in 1888, 3*2; in 1889 and since, nil. The sinking fund
hffids $210,000’of the Detroit Lansing & Northern 7s and $20,000 of months), gross earnings on 81 miles were $36,944, against $26,950 m
1890. (V. 53; p. 58.)
the Ionia & Lansing 5s given as outstanding m the table.
D u n k irk Allegh en y V alley & Plttshurg.-OwnsfromDunkirk,
F rom January 1 to May 31, 1891 (5 months), gross earnmgs were
$464 607, against $464,557* in 1890; net, $117,109, against $125,894; N Y to Titusville, Pa., 91 miles. A consolidation of the Ddukirk Warren
interest, rentals, &c., $131,366, against $131,366; deficit, $14,257, & Pittsburg and Warren & Venango in 1872. Leased for 400 years from
1873 to N. Y. Central & Hudson River Co., but accounts are kept separate.
a^ tol^ 90pgros8 earnings were $1,219,663; net, $392,799; interest, $225,- Rental is interest on bonds. Capital, $1,300,000; par, $100. The N.Y.
40<> rentafs&c., $93,293; surplus, $74,166, ag’st deficit of $6,712 inl889. C & H. R. Co. holds $2,324,600 of the securities. In 1890 gross earn
-(V .5 T p T2 ® 8 3 , 6 6 i ; 662, 801; V. 51, p.'20,171,279, V. 52,p .4 9 7 .) ings, $249,327; net, $58,723, against $20,911 in 1889.
F a s t P en n sy lv an ia .—Owns double track from Reading, Pa., to
D u bu o u e & Sioux City.—Owns from Dubuque, Iowa, to Iowa
vans 143 miles ; Iowa Falls to Sioux City, 184 miles; Manchester to Allentown, Pa., 36 miles. Leased for 999 years from May 1,1869, to toe
Oftda.r Ranids. 42 miles; Onawa, Iowa, to Sioux Falls, Dakota, 155 miles; Philadelphia & Reading RR. at a rental of 6 per cent per annum on the
total 524 miles. Also leases Cedar Falls & Minnesota, 76 miles. In Btock ana interest on the bonds. Austin Corbin, President, Philadelphia.
Anrii 1887 a controlling interest in the stock was sold to Illinois
F a st Tennessee V irg in ia & Georgia R a ilw a y .—(See Map.)—
Central and in February, 1891, the road was leased to that company, Owns: Bristol to Chattanooga, Tenn., 242 miles; Morristown to Unaka,
the rental being net earnings and the lease being terminable on 60 days 44 miles: Cleveland to Selma, 264 miles; Selma to Lauderdale, 95 miles;
notice. See V. 52, p. 350; V. 51, p. 493.
Elizabeth, Ala., to Akron, 53 miles; Rome, Ga., to Macon, 159 iniles (18
In 1887 the Dubuque & Sioux City RR. Co. began a suit to annul the miles iointlv with Georgia Pacific); Macon to Brunswick, 190 miles;
lea se of the Cedar Falls & Minnesota Railroad. Under a cross bill in the branches to Savage Creek, &c., 70 miles; Rome to AttalLa, Ga., 62 miles;
TT 8 Circuit Court in Chicago, that Court decided the lease valid as total owned, 1,179 miles; trackage (Mobile & Ohio) Lauderdale to Merid
against the Dubuque & Sioux City Co., but that the Illinois Central ian 18 miles ; total June 30, 1890, 1,197 miles. Also leases the
Railroad Co. is in no way bound to the Cedar Falls & Minnesota Co. Knoxville & Ohio Road, 66 miles, and controls the lines of the Memphis
The Dubuque & Sioux City Company has given notice of appeal to the t, charleston Railroad from Chattanooga to Memphis, Tennessee.
Snnreme Court of the United States.
310 miles and the Florence and Somerville branches, 20 miles; the MoS to ck is $8,000,000. See V. 47, p. 440, Illinois Central owns $7,897,- nil p A Birmingham, 150 miles; the Cincinnati New Orleans & Texas
inn stock and all the 5 per cents; also all the Cherokee & Dakota and Pacific Cincinnati to Chattanooga, Tenn., 336 miles; the Alabama
Cedar Rapids & Chicago 5s, due in 1935, which are pledged as part Oreat Southern, Wauhatchie, Tenn., to Meridian and branch, 295 miles;
security for its 4 per cents of 1952.
^
the Louisville Southern, 124 miles; making a total of 2,500 miles.
^ D i v i d e n d s : In 1888, ^ of 1 per cen t; i n 1891, June 30, 1 per cent.
O r g a n iz a t io n , Etc.—This road, the East Tennessee Vnginia &
From Julv 1,1890, to December 31 (6 months), gross earnings were Oeorgia Railway, was formed in 1886 as successor of the East Ten
$1 20™851, against $1,037,405 in 1889; net,$340,078, against $322,516. nessee Virginia & Georgia Railroad, which was sold in foreclosure
In vear ending June 30, 1890, gross earnings were $1,909524; net, May 25, 1886. Control of the stock is supposed to be held m the inter
$476,926. Deduct interest, $484,538;
CedarFalls & Minnesota, est of the Richmond Terminal, which itself held on NovelB^er
. 1890,
$189 170, leaving a deficit balance of $196,783. (V. 48, p. 489; V. 50, I$8 783,200 first preferred, $6,536,000 second preferred and $5,880.000
p. 4 2 1 ; V. 51, p. 493; V. 52, p. 350, 427.
BONDS.
SAND
STOCK
RAILROAD
J ülÿ , 1891.]
s e
m VESTORS’
SUPPLEMENT.
[Y ou L i a
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
_________________ RAILROADS._________________
Miles Date Size, or
Due,
Amount Rate per When Where Payable, and by pal,When
Par
of
For explanation of column headings, &c., see note8 of
Stocks—Last
Outstanding
Road. Bonds Value.
Whom.
Cent. Payable
on first page of tables.
Dividend.
Erie <t Pittsburg.—(Con.)—Equipment bonds.. . . . .c
General mort. for $4,500,000 series A, g., guar...
Eureka Springs—1st mortgage, gold......................e
2d mort. income bonds............................................
European & North Am.—Stock 5 p. c. rental, M. C..
Evansville <6Indianapolis—T. H. & Southe.lst M.c*
Evansville & Indianapolis 1st mortgage, gold..c*
Consol, mortgage (for$2.500.000) góla, guar.c*
Evansville d Terre Haute—Stock.................................
1st consolidated mortgage, gold..........................c*
Mt. Vernon Branch 1st mort. g. ($15,000 p. m.).c*
Sullivan County Coal branch 1st mort. gold___c*
Evans. &Rìch. IstM. West Div. ,for$l ,000,000 gu. c*
do
Eastern Division. 1st M. for $1,000,000. c*
Evansville Terre H. d Chic.—1st M., g.,int. guar, .c*
2d mortgage, gold .................................................. c*
Incomes........ ................................................... .
Findlay Ft. W ayned West.—lstM.,g.,$18,000p.m.c*
Fitchburg—Common stock..........................................
Pref. 4 per cent stock, non-cum...............................
Bonds, $500,000 are 6s, due Oct. 1,1897.......... o
Bonds,$500,000 yr’ly,’99tol903 incl., bal.l908.c*
Bonds..........................................................................
Bonds to State of Maes. (3 p. c. int. till 1892).......
Bonds.................................................................... c&r
Bonds........................ .............................................
Bonds ($1,500,000 due 1907, interest A. & O)___
B o n d s.............. ................. ...... ...................... *-----c
Boston Barre & Gardner 1st M., $91,300 are 7s..
2d & 3d mortgages...................................... .........
Troy & Boston 1st mortgage, consolidated............
Boston Hoosac Tunnel & Western debentures...
Cheshire RR. bonds, not M. ,$550,000 due 1898 .c*
81
81
19
114
40
54
135
144
25
30
100
55
55
80
1870
1890
1883
1883
1879
1884
1886
1881
1883
1890
1888
1890
1870
1872
1881
1890
’74 &’7
’80-?88
1889
1887
1887
1890
’84-’ 87
1890
38ia 1873
1875
35 1874
1883
’76-’78
$1,000
1,000
1,000
500
100
1,000
1,000
1,000
50
1,000
1,000
1,000
1,000
1,000
1,000
1,000
$511,000
7
A. & 0. N. Y., Union Trust Co. Oct. 1, 1900
do
775,000
do
July 1, 1940
4 g- J. & J.
500,000
6 g. F. & A. N. Y ., Mercantile Tr. Co. Feb. 1, 1933
do
do
Feb. 1, 1933
500,000
4
Feb’y 1.
2,500,000
213 A. & O. Bangor, Treas. Office. Apr. 15,1891
260,000
M. & S. N. Y., Farm. L. & Tr. Co. Sept. 1, 1909
7
do
July 1, 1924
do
697,000
6 g. J. & J.
Jan. 1, 1926
do
do
1,582,000
6 g. J. & J.
3,000,000 See rem. Q.—J. N. Y., Farm. L. & Tr. Co. July 28,1891
July 1, 1921
do
do
3;ooo;ooo
6 g. J. <fe J.
do
do
Apr. 1, 1923
375,000
6 g- A. <fc O.
do
Apr. 1, 1930
do
450,000
5 g- A. & O.
1,000,000
5 g* M. <fc S. N. Y., Manhat’n Tr. Co. Sept. 1, 1928
New York City.
Sept. 1, 1930
m
5 g- M. & S.
775,000
6 g- M. & N. N. Y., Farm. L. &TT. Co. May 1, 1900
do
do
Jan. 1, 1900*
325,000
6 g- J. <fc J.
do
M. <fc N.
do
May 1, 1920
150,000
6
1,000
342,000
5 g. J. & J. N. Y., Washington Tr. July 1, 1940
100
7,000,0001
100 16,497,600
July 15,1891
Boston, Office.
1*3
1,000
do
do
Ap.’94&Oc.’97
1,000,000
6 <fc 7 A. & O.
1,000
do
Var.’99 tol908
do
4,500,000
5
Various
Mch. 1, 1890
M. & 8.
do
do
750,000
5
Feb. 1, 1937
3 to 4 F. & A.
do
do
5,000,000
1,000
do
do
Sept. 1, 1897
2,250,000
413 M. & S.
1,000
June 1, 1900
do
do
500,000
5
J. & D.
1,000
1904-5-7
do
do
2,500,000
4
Various
1,000
June 1, 1920
do
do
500,000
4
J. <fc D.
100 &o.
Apr. 1, 1893
do
do
391,000 5 & 7 A. & O.
July 1, 1895
do
do
243,600
3 & 6 J. & J.
1,000
July 1, 1924
do
do
577,000
7
J. <fc J.
1,000
Sept. 1, 1913
N.
Y.,
Kountze
Bros.
1,400,000
5
M. & S.
500 &c.
800,000
6
J. & J. Boston, Fitchburg RR. J u ly l,’96-’9ft
common, of this $8,283,200 first preferred and $4,225,000 second pre
ferred being pledged under its trust deeds.
The Knoxville & Ohio was leased for 99 years from 1889 and its
bonded interest guaranteed by the rental.
In April, 1890, acquired an interest in the Alabama Great Southern
system by purchase of stock. See Cincinnati New Orleans & Texas Pa
cific, also statement concerning Cincinnati Extension bonds below, 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 B onds .—Both the first preferred and the second pref
erred 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
1888, 5 ; in 1889, 5 ; in 1890, 5.
Price of common stock—In 1886, l l ® 1 8 7s ; in 1887,91&'a>17; in 1888,
8®1134; in 1889, 8 3 s ® !!1«; in 1890, 63s®1133; in 1891, to July 17
inclusive, 534® ^ .
Price of first preferred—In 1886,67®83&8; m 1887,52®821a ; in 1888,
55®83; in 1889, 63®761a; in 1890, 55® 81; in 1891, to July 17 in
clusive, 52® 66.
Price o f second preferred—In 1886, 24®35% ; in 1 887,18®32; in
1 8 8 8.1714®2712; in 1889, 20®253*; in 1 8 9 0,13*2®2714; in 1891, to
July 17 inclusive, 131*® 19*8.
Besides the bonds of the Knoxville & Ohio in the table above the com
pany 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 A Georgia.
The Cincinnati Extension bonds of 1890 were issued jointly by this
company and the Richmond & Danville, 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 shares 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 Or
leans 4c Texas Pacific, and pending such deposit $500,000 in cash. See
abstract of mortgage in V. 52, p. 83.
In January, 1891, was executed the general mortgage for $15,000,000, proceeds to be used in building branches, double tracking, and re
tiring $4,470,000 extension bonds of 1887, whole issue not to exceed
$20,000 per mile.
E arnings , &c.—From July 1, 1890, to May 31, 1891 (11 months)
ross earnings were $6,887,231, against $6,472,805 in 1889-90; net,
2,324,809, against $2,456,961.
The fiscal year ends June 30. The annual report for 1889-90 was in
full in the Chronicle , V. 51, p. 607, 610, and a review of operations for
year in V. 51, p. 290. The results do not include the operations of
the Knoxville & Ohio, which in 1889-90 showed net earnings of
$208,913 and a deficit under charges of $48,545.
f
INCOME ACCOUNT.
1887-88.
1888-89.
1889-90.
1,069
1,067
1,197
Total miles oper. June 30.
Receipts—
$
$
$
5,301,624
5,109,918
6,412,078
Total gross earnings........
1,834,380
1,924,935
2,288,772
Net income.........................
Disbursements—
Interest on d e b t...............
1,086,993
1,223,852
1,404,743
Taxes..................................
126,700
133,944
162,845
Divid’d on 1st pref. stock.(5p.c.) 550,000 (5 p.c.)550,000 (5 p.c.)550,000
Total disbursements..
1,763,693
1,907,776
2,117,588
Balance.............................
70,687
17,139
171,184
—(V. 50, p. 71, 276, 437, 452, 519, 560, 662, 703, 834, 904; V. 51, p. 51,
276, 290, 6 0 7 , 6 1 0 , 721, 829; V. 52, p. 80, 83, 831, 902.)
E ast Sc W e s t R ailroad, o f A la b a m a .—Owns Cartersville, Ga.
to Pell City, Ala., 117 miles; branch, 2 miles. The bonds issued in 1887
retired $800,000 of prior 1st mortgage 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, p. 189. Gauge changed to standard in
1890. Litigation is pending and no interest, it is said, has been paid
on receiver’s certificates. In year ending June 30,1890, gross earnings
were $112,462; net, $13,014. E. Kelly, President, New York.
E astern (M ass.)—See Boston <fc Maine.
E astern (N . H .) —Owns 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 4*2 per cent per annum. In June, 1891, a stock dividend of 50
per cent was paid, increasing the stock to $750,000. It is said that
this increase m capital will only warrant a dividend of 3 per cent,
unless the lease is changed, which is probable, as the directors have
been authorized to arrange for a union with the Boston & Maine Rail
road Company. M. Currier, President, Manchester, N. H. (V. 52, p.
939.)
,
P E e l R iv e r .—Owns from Logansport, Ind., to Butler, Ind., 94 miles.
Thin was formerly the Detroit Eel River & Illinois Railroad, sold under
foreclosure July 6, 1877. Leased for 99 years from April 1,1887, re
newable forever, to Wabash Western, on the basis of 2 per cent yearly
on the stock till April, 1892, then 2*2 till 1895 and 3 per cent thereafter^
E lg in JToliet Sc E a stern .—(See Map)—Owns from Waukegan Dl.»
(two miles east of Elgin), via Spaulding and Joliet, to McCool, Ind.,
123 miles, and branches Aurora to Normantown, 9 miles—Walker to Cos*
ter, 111.—32 miles; total, 164 miles. This is a belt line on a large scale,
crossing, or intended to cross, at a distance of about 30 miles 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 o f only
on vote of a majority of the stockholders for extensions, betterments,
real estate, etc.
From January 1 to May 31 (5 months) in 1891 gross earning» were
$249,824, against $227,108 in 1890; net, $84,589, against $83,588.
In 1890 gross earnings were $591,523; net, $206,546. In 1889 gross
were $296,472; net, $60,901. President, Samuel Spencer, New York.
—(V. 52, p. 350.)
E liz a b eth to w n L ex in gton Sc B ig Sandy. — Operates from
Huntington, West Va., to Lexington, Ky., 139 miles, o f 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 Com
pany on the basis of paying the annual net surplus, if any, to this com
pany. Stock, $3,510,700 (par $100), of which the Newport News & Mis
sissippi 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.
Annnal report for 1890 wasin V. 52, p. 497. From Jan. 1 to April 30,
1891 (4 months), gross earnings were $217,509, against $239,989 in ’90.
For year 1890 gross earnings were $816,329; net, $313,044; surplus
over fixed charges, $42,793. In 1889 gross earnings were $815,830;
net, $282.239; surplus over rentals and interest, $12,382. (V. 50, p.
4 2 1 ; V. 52, p. 497.)
E lm ir a C ortlan d Sc N orth ern .—Owns Elmira, N. Y., to Cana*
stota, N. Y., 119 miles, and leases during corporate existence, Canastota
Northern Railroad, Canastota to Camden. N. Y., 21 miles. Sold in fore
closure in 1878 and again in February, 1884, and reorganized as at
present.. Of the first mortgage bonds only about $29,000 have been
receiving interest. Stock is $2,000,000; par, $106. In year ending
June 30,1890, gross earnings were $480,416; net, $158,429; interest
on preferred mortgage, etc., $46,470; rentals, etc., $44,254; surplus»
$67,705. Austin Corbin, President, New York City.
E lm ira Sc L ake O n tario.—Owns from Canandaigua, N. Y., to
Chemung Junction, 64 miles; Sodus Point to Stanley, 34 m iles; other 2
—total, 100 miles. A consolidation in December, 1886, of the Elmira
Jefferson & Canandaigua, the Sodus Bay & 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 stock and $226,000 Sodus Bay
bonds, including $84,000 in insurance fund. Lease may be termi
nated on thirty days’ notice from either party. In 1890 the gross
earnings were $733,447; deficit under operating expenses and taxes,
$25,512; deficit under charges, $54,350, payable by lessee. In 1889
gross, $630,449; deficit under operating expenses, $48,996.
E lm ira Sc W illia m s p o r t.—Owns from Williamsport, Pa., to El
mira, N. Y., 76 miles. This company was reorganized under the pres
ent name February 29, I8601
, and leased to the Northern 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 7 per cent. Gross earnings in 1889, $841,404;
net, $187,644; surplus, $14,408. Gross earnings in 1890, $912,682
net, $148,084; rental, etc., $182,293; loss to lessee, $34,208.
E m pire Sc D u b lin .—Hawkinsville, Ga., to Dublin, 40 miles; com
pleted, 32 miles, crossing East Tennessee Virginia & Georgia at Empire»
Dodge County. Interest on bonds guaranteed till July, 1893, by Empire
Lumber Company. In December, 1890, Judge Roberts was made re
ceiver. Stock, $320,000—par, $100.
From 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, $25,088; net, $13,352; interest, $6,320; surplus, $7,032.
E r ie Sc P ittsb u rg .—Owns New Castle, Pa., to Girard, Pa., 82 miles;
branch, Dock Junction to Erie Docks, three miles; trackage (Lake
Shore «¿Michigan Southern); Girard to Erie, 17 miles; total operated»
101 miles. Road opened in 1865. It was leased to the Pennsylvania
Railroad for 999 years from March 1,1870, at a rental of 7 per cent on
stock and interest on the bonds, and the lease was transferred to the
Pennsylvania Company.
In October, 1890, a new mortgage for
$4,500,000 was executed, $3,262,000 being reserved to retire prior
bonds and the balance for improvements, «fee. 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, $287,306 to 1888, $211,063; in 1889. $290,734; in 1890, $267,705.
E u rek a Springs.—Seligman, Mo., to Eureka Springs, Ark., 1 8 ^
miles; projected to Harrison, Ark., 50 miles beyond. Stock, $500,000;
par, $100. There is a traffic contract with St. Louis & San Francisco.
In calendar year 1890 gross earnings, $75,098; net, $40,080; interest,
$30,000; surplus $10,080.
J u l y , 1891.J
RAILROAD
STOCKS AND
57
BONDS.
M A P OF TH E
E L G IN , J O L IE T
AND
EASTERN RAILW AY
C H IC A G O
OUTER
B E L T LINE
CO N N E C TIN G ALL R A IL R O A D S
CEN TE R IN G A T C H IC A G O .
58
INYESTOKS’
SUPPLEMENT.
[ V o l . L III,
MAP OF THE
EVANSVILLE & TERRE HAU TE R. R.
EVANSVILLE & INDIANAPOLIS R. R.
EVANSVILLE & RICHMOND R. R.
EVANSVILLE BELT RAILWAY.
PEORIA, DECATUR & EVANSVILLE RY.
Louisville, Evansville & St. Louis Consolidated.
J uly , 1891. J
^ ^ sc^
RAILKOAD STOCKS A N D BONDS.
59
erg w ill confer a great fa v or I)y g iv in g Im m ediate notice o f an y error discovered In these T a bles.
RAILROADS.
Bonds—Princi
i
INTEREST OR DIVIDENDS.
Miles Date iSize, or
Amount 'Rate per When Whiwe Pavable, and by pal,When DueFor explanation of column headings, &c., see notes of
of
Par
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Flint A Pere Marquette—Common stock ($3,500,000) 625
$100 $3,298,200
Pref. stock, non-cumulative (for $6,500,000)....... 625
100
” 2'
6.342.000
F. & A. East Sag., Mich., Treas. Feb. 1 4 ,18S|1
Holly Wayne & Monroe 1st M. sink, fund, end. .c
65 1871
1,000
1,000,000
8
J. & J. N. Y., Mer. Ex. Nat, Bk. Jan. 1, 1901
M ortgagees of 1920, gold ($5,000,000)...............c 285 1880
1,000
3.999.000
A.
& O.
ao
do
Oct. 1, 1920
6gConsol. M .,g. (for $10,000,000) $20,000 p. m ..c* 384 1889
1,000
1.500.000
M. & N.
do
do
May 1, 1939
Port Huron & Northwestern—1st mortgage.......c 218 1879
104.000
I * A. «Ss O. N.Y., 1st National Bank Oct. 1, 1899
1st M.on Port. Huron Div.,gold,for $3,500,000. c* 241 1889
l'.Ò'oO
2.976.000
A. & 0. N. Y., Mer. Ex. Nat. Bk. Apr. 1, 1939
Equipm’t bonds, $40,000 due annually Nov. l.c *
1887
1,000
280.000
i g- M. & N. Boston. Intern’l Tr. Co. N ov.l,’91to’97
Florida Central A Pen.—1st M. gold, $5,240 p. m.c* 597 1888
1,000
3.000.
000
J. <fc J. N. Y., Am. Exch. Bank, July 1, 1918
Extension mort., gold, $5,226 per mile................
£ g- J. & J.
32 1890
1,000
285.000
do
do
Jan. 1, 1930
Fonda Johnstown A Gloversville—IstM. ,s.f.,not dn. c*
10 1870 100 &c.
? g- J. & J. N. Y., St. Nich. Nat. Bk. July 1, 1900
300.000
Cons. M. for $500,000 ($300,000 res’d for 1stM.)c
26 1881 100 &c.
200.000
6
A. & 0.
do
do
Apr.
1, 1921
Fort Wayne A Jackson—Common stock.....................
98
100
436,132
Pref. stock (8 p. c.),
p. c. rental Lake Shore...
98
100
” 2% M. & S. N. Y., Farm. L. & Tr. Co. Mar. 2, 1891
2,291,416
Fort Worth A Denv. City—1st M., g., $18,000 p. m.c* 450 1881
1,000
7.963.000
J. & D. N. Y., Union Tr. & Bost. Dec. 1, 1921
Pan Handle RR. 1st mortgage..............................
225.000
v - J. & J.
Boston.
July 1, 1929
Fort Worth A Bio Or.—1st M., gold, $20,000 p. m.c* Ì13 1888
1,000
2.118.000
5 g. J. & J. N. Y., H.B.Hollins <ScCo. July 1, 1928
Galveston Harrisb. A S. Antonio—1st M.,g.,land gr.o*
’71-’ 80 1,000
F. & A. N.Y.,So.Pac.Co.,23B’rd Feb. 1, 1910
4.756.000
2d mortgage, Harrisb. and Houston to San Ant.c* 225 1880
1,000
? % J. & D.
1.000. 000
do
do
June 1, 1905
West. Div. IstM., g., SanA.toElPaso,636 m.&br.c* 671 1881
1,000 13,418,000
M. & N.
do
do
May 1, 1931
2d mortgage (see remarks)............................... c* 671 1881
1,000
6.354.000
I e- J. <fc J.
July 1, 1931
Galveston Houston A Hend. o f 1882—1st M., guar. _c
50 1883
1,000
A. <fc O. N. Y., Mercantile Tr. Co. Apr. 1, 1913
5
2,000,000
Georgia Geer. A North.—IstM ., g. (not drn.) guar..e* 268 1889
1,000
5.360.000
J. & J. N. Y. ,Merc.Tr. Co. &Balt.
1, 1929
g- J. & J. N. Y., 4th Nat. Bank. July
Georgia Go.—Tr’stb’ds,s.f.,dr.at 110 aft.July,92,g.c*
1887
1,000
4.000.
000 £
July 1, 1937
£ g- J.
Georgia Midland A Gulf—1st M., g. ($15,000 p.m.)c* ”98 1886
1,000
& J. N. Y., Central Trust Co. July 1, 1926
1.470.000
6
g.
Georgia Pacific—1st mort., $10,000 p. re.,int. guar. 566 1882
1,000
6
J. & J. N. Y., 4th Nat. Bank, Jan. 1, 1922
5,663,900
Con. 2d mort., interest guar.,($9,000 per mile). .c* 566 1888 500 <fcc. 5.097.500
A. <fc O.
do
do
Oct. 1, 1923
Con. 2d income, non-cumulative,($9,000p. m.)c<fcr 566 1888 500 <fcc. 5.097.500
A. & O.
do
do
51
Oct. 1, 1923
Equip, mort., guar. R. & D., g., s. f., drawn at par
1889
1,000
F. & A.
2.000.
000
do
do
Aug. 1, 1904
Equipment mort., sinking fund, subject to call...
1891
6® '
do
do
(?)
1892 to 1906
Georgia Railroad A Banking Co.—Stock.................. 307
Too
2%
4.200.000
Q .-J . N. Y., Am.Ex.Bk. & Aug. Apr. 15,1891
Bonds, not mort. ($300,000 mature in 1922).c*&r
77&80 1,000
6
J. & J.
2.300.000
do
do
’97,1910,1922
Bonds, not mortgage...............................................r
1887
1,000
5
J. & J.
200.000
do
do
Jan. 1, 1922
E u rop ean & N orth A m erican .—Owns from Bangor, Me., to
Dividends on preferred stock have been: In 1872, 2 per cen t; in 1888
Vanceboro (State Line), Me., 114 miles. On August 31,1882, a lease 2; in 1889, n il; in 1890, July, 2 per cent (the dividends on the Troy <fe
was made to the Maine Central for 99 years for $125,000 per annum, Boston issue being withheld. See V. 51, p. 84.) In 1891, Jan. 15,2 p. e.r
equal to 5 per cent per annum on the stock, and assuming the bonded July 15, H2 p. c.
debt of $1,000,000 which is given under Maine Central.
From July 1, 1890, to Mareh 31,1891 (9 months), gross earnings
E v a n sv ille Sc In d ia n a p o lis.—(See Map Evansville A Terre Haute) were $5,150,704, against $5,007j012 in 1889-90; net, $1,462,179,
—Owns Evansville to Terre Haute, Ind. (via Worthington), 135 miles> against $1,558,303; surplus over charges, $467,637, against $569,028.
Fiscal year changed to end June 30. The annual report for 1889-90
branch 6 miles; leases branch to Brazil, 12 miles; total 153 miles. A
consolidation in October, 1885, of three corporations, viz.: the Evans was in C h r o n i c l e V. 51, p. 414. In the following the figures for
ville & Indianapolis, the Evansville Washington & Brazil and the Terre 1888-89 and 1889-90 are for the years ending June 30; all others for
Haute & Southeastern KBs. Of the consolidated mortgage bonds, years ending September 30.
$800,000 are reserved to meet prior liens. The consolidated bonds are
INCO M E A CC O U N T.
guaranteed by the Evansville & Terre Haute Co., which owns entire
1886-87.
1887-88.
1888-89.
1889-90
capital stock, $2,000,000, as also $547,000 o f the other securities. J* >1 ; „
345
369
369
369
From July 1, 1890, to June 30,1891 (12 months), gross earnings Total miles operated.......
$
$
$
$
were $326,186, against $314,660 in 1889-90.
In year ending June 30, 1889, gross earnings were $278,348; net, Total gross earnings....... 4,569,321 5,463,298 5,747,985 6,259,533
Op.
expenses
and
taxes..
3,482,654
4,196,605
4,390,792
4,525,605
$117,062; deficit after interest, rentals and taxes, $41,595. (V. 50 p.
107,525.)
Net earnings................ 1,086,667 1,266,693 1,357,193 1,733,928
E v a n sv ille Sc Terre H a u te .—(See Map.)—Owns from Evansvill6
Disbursements—
to Terre Haute, Ind., 109 miles; Fort Branch to Mt. Vernon, 38 miles’ Rentals paid.......................
266,011 281,280
281,280
271,980
Sullivan County coal branch, Farmersburgto New Pittsburg, Ind., and Iuterest on debt................
423,228
680,388
762,806
799,153
extensions, 30 miles. Proprietary Lines^Evansville Belt Railway, 10 Other interest......................................
58,715
27,875
8,264
miles; Evansville & Indianapolis (which see), 141 miles, and leased Dividends............................ (*4)366,488(*2)261,836
261,835
line 12 miles; Evansville & Richmond RR., Elnora to Westport, 102
miles; total operated, 442 miles. Has under construction, Evansville
Total disbursements.. 1,055,727 1,282,219 1,071,961 1,341,232
& Riohmond eastern division, Seymour to Richmond 65 miles. The
30,940 def. 15,526 1285,232
292,696
Rockville Extension, 23 miles additional, is leased to the Terre Haute Balance, surplus.............
& Logansport and Chicago & Eastern Illinois for $12,000 yearly.
*
And
sB
of
2
per
cent
on
10,000
shares.
Evansville & Terre Haute RR. was formerly the Evansville & Crawt Of this surplus, $252,871 went to pay damages caused by fire started
fordsville Railroad. The EvaJnsville & Richmond bonds are endorsed
with a guaranty of principal and interest. In 1890 a ten-year traffic by sparks from locomotive.
—(V.
50, p. 36,17 4 ,2 0 7 , 560, 833; V. 51, p. 84,171, 206,276, 4 1 4 , 609
contract was made with the Chicago & Eastern Illinois. There are also
$30,000 Evansville & Chicago Railroad consols. Dividends since 1880 777; V. 52, p. 322, 608, 718, 795.)
F lin t Sc Fere M arqu ette.—(See M ap.)—Owns from Monroe, Minh,
—In 1881, 4*2 per cen t; in 1884, 5; in 1885, 3 ; in 1886, 4 ; from 1887
to 1890, inclusive, 5 per cent per annum; in 1891, January 22, l^o per to Ludington, Mich., 253 miles; 11 branches to East Saginaw, Fostoria»
cen t; April 27, 1*2; July 28, 2. A. distribution of stock was announced etc., 133 miles; Port Huron to East Saginaw, 90 miles; Port Huron to
tn June, 1891, but subsequently in lieu of this the quarterly dividend Sand Beach (3 feet), 70 miles; Palm to Port Austin (3 feet), 35 m iles;
was increased to 2 per cent. See V. 52, p. 939. Owns entire stock Port Auron to Altmont (3 feet), 34 miles; Zion to Yale (3 feet) 12 miiA« •
total operated, 627 miles, of which 151 are 3 feet gauge.
of Evansville & Indianapolis, which see.
Sold August 18,1880, under the consolidated mortgage, and reorgan
From July 1,1890, to June 30,1891 (12 months), gross earnings on
159 miles were $1,108,019, against $1,001,198 in 1889-90.
ized. In 1889 consolidated with certain branches (see V. 48, p. 222) and
Fiscal year now ends June 30. Last report in Y. 51, p. 908.
absorbed Port Huron & Northwestern (see V. 48, p. 260). The consoli
Gross earnings in year ending June 30, 1890, on 159 miles were dated mortgage of 1939 is a first mortgage on 98 miles of road. Trus
$983,917; net, $516,846; surplus over all interest, dividends and tee Central Trust Co.
taxes, $171,012. (V. 49, p .6 1 5 ; V. 50, p. 107,174; V. 51, p. 51, 9 0 8 ;
Dividends on preferred stock since 1880—In 1881, 21* per cent; in
Y. 52, p.762, 795, 831.)
1882, 6; in 1883 and 1884, 7 ; in 1885, 5*2; in 1886, 4Lj; in 1887, 5ks;
in 1888, 7 and 5 extra; in 1889, 6 ^ ; in 1890, February 15, 3 per cent:
E v an sv ille Terre H a u te Sc Chicago.'—Owns from Terre Haute Augufst 15, 3 per cen t; in 1891, Feb. 14, 2 per cent.
Junction, Ind., to Danville, 111., 49 miles; leases 6 miles; total operated,
From January 1 to May 31, 1891 (5 months), gross earnings were
55 miles. It uses 6 miles of the track o f the Rockville Extension into $1,241,014, against $1,296,616 in 1890; net, $314,373, against $360,Terre Haute; also leases the Indiana Block Coal Road, 15 miles. On 030 ¡interest, rentals, etc., $234,288, against $223,665; surplus, $80,A pijl 30,1880, a lease fit) the Chicago & Eastern Illinois was made for 085, against $126,364. Mileage, 627 miles in both years.
999 years; terms, $75,000 per annum and the assumption by the Chi
Annual report for 1890 in V. 52, p. 760. In the statement below the
cago & Eastern Illinois of all rentals and taxes paid by Evansville Terre Port Huron Division is included only in 1890.
Haute & Chicago. Majority of the stock is owned by Chicago & Eastern
1887.
1888.
1889.
Î890.
Illinois. (V. 48, p. 827.)
$
$
$
$
F in d la y F o rt W a y n e Sc W e ste rn .—Owns Findlay, O., to Otta- Total grpss earnings.2,572,937
2,403,074 2,370,133
2,923,575
wa, O., 23 miles, and lias road under construction from Ottawa, O., west Oper’ng exp. «Sstaxes. 1,815,283 1,646,424 1,623,297
2,042,409
t® Fort Wayne, Ind., 57 miles. Successor to the American Midland,
sold in foreclosure in June, 1890. Trustees of mortgage are Washing
Net earnings........ 757,654
756,650
746,836
881,166
ton Trust Company, of New York, and Allen Zollars of Fort Wayne.
Deduct—
Stock and bonds authorized, $18,000 per mile.
Interest on debt........ 329,194
332,939
366,421
558,104
F i t c h b u r g .—Owns from Boston, Mass., to Fitchburg, Mass., 50 Dividends.................. 422,500
449,470
380,520 (5 p.c.)317,100
miles; Greenfield to Troy, N. Y. 85 miles (including 6 miles leased); Ver
mont to Rotterdam Junction, 61 m iles; Boston Barre & Gardner Rail
Total disbursem’nts 751,694
746,941
782,409
875,204
road, Worcester to Winchendon, 36 miles; South Ashbumliam, Mass., Balance for the year.sur. 5,960 def. 25,759
def. 105
sur. 5,962
to Bellows Falls, Vt., 54 miles; branches, 81 miles; Monadnock Rail
road, 16 m iles; total owned, 377 miles; leases and operates—Vermont — { V . 4 7 , p. 4 4 1 , eaa; v. 48, p. 221, 462, 5 5 5 , 633, 855 ; IV. 50, p. 4 2 1 ,
& Massachusetts Railroad, Fitchburg to Greenfield, 56 miles; included 560, 6 2 1 , 662, 833; V. 51, p. 51, 240,494,569; V. 52, p. 350, 428, 760).
above, 6 miles; total leased, 62 miles; total Sept. 30,1890, 439 miles.
F lo rid a Central Sc P e n in su la .—Owns Jacksonville to Chatta
In 1887 the Fitchburg Railroad Company consolidated with the Troy hoochee, 209 miles ; Tallahassee to St. Marks, 21 miles ; Fernandina to
Greenfield and the Hoosac Tunnel railroads and purchased the Troy Tampa, 241 miles ; Waldo to Cedar Keys, 72 miles; Wildwood to Or
« B o s to n ; and on October 1,1890, it consolidated with the Cheshire lando, 53 miles ; Hart’s Road to Jacksonville, 25 miles; Jacksonville
Railroad, five shares of Fitchburg preferred being given for four of Belt Line Railroad, 3 miles; other, 6 miles; total, 629 miles.
Cheshire preferred. The Southern Vermont, 8 miles, was purchased in The Florida Railway & Navigation Railroad in 1888 was sold
January, 1891, for $175,000 of 4 per cent bonds.
and the present company organized. The common stock is
„T h e State of Massachusetts owns $5,000,000 of the common stock. $20,000,000, par $100 ; 1st preferred, 5 per cent cumulative, $1,582,The preferred stock is entitled to 4 per cent dividends, then common 000 ; 2d preferred, 5 per cent non-cumulative, $4,500,000 ; car trusts
and preferred share equally. The Troy & Boston issue of preferred (September 10,1890), $54,708, due 1892. The plan of reorganization
stock has been retired.
was in V. 46, p. 289. Trustee of first mortgage of 1888, Central
„The. holders of the Troy & Boston 7 per cent bonds for $1,200,- Trust Company, of New York. In 1891 the Tavares Orland & Gulf
©00, due July 1,1924, refused to come into consolidation agreement, and RR. was absorbed, and the new extension bonds were issued thereon.
hi December, 1890, the New York Court of Appeals, sustaining the posi
From July 1,1890, to May 31,1891 (11 months), gross earnings on
tion of the bondholders, held that the Fitchburg was liable for the prin 577 miles were $1,224,037, against $1,077,188 on 574 miles in
cipal and full interest of the Troy & Boston bonds. The Fitchburg 1889-90; net, $296,616, against $224,952.
Company has acquired a part of this issue of bonds, and now only
In 1889-90 gross, $1,171,370 ; net, $187,454, (against $202,647 in
$577,000 are outstanding in the hands of the public. There are also 1888-89); interest, $152,950 ; surplus, $34,504. (V. 49, p. 300.)
outstanding $48,000 Monadnock Railroad 5 perjeent bonds due July 1,
F o n d a J o h n s t o w n Sc G lo v e r s v llle .—Owns from Fonda, N. Y.
i 97.J
to Northville, 26 miles. The stock is $300.000; par, $100. In year
INVESTORS’ SUPPLEMENT.
ivou LIIL
KAILROAD
J u l y , 1891. J
STOCKS A N D
BONDS.
61
Subscribers w ill confer a great fa v or by g iv in g Im m ediate notice o f a n y error discovered In these T a b les
RAILROADS.
Miles Date Size, or
For explanation o f column headings, <fec., see notes of
of
Par
Road. Bonds Value.
on first page o f tables.
Georgia Southern A Fla.—1st M., g. ($12,000 p.m.)e
285
Grand Rapids A Indiana—Stock............................ c'
1st M., land grant, g., s. f. (guar, by Pa. R R .)..c
335
1stM.,g.,($505,000 are land grant s. f. not drn).c’ 335
2nd mortgage, redeem, at 105 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. guar.. .c
*37
Great Northern—Stock, pref. (no com. stock issued)
St. PaulMinn. &Man.—Stock (rental 6 p. c. in gold)
St. P. & Pac. 2d M. (1st on St. Paul to Watab__
76
St. P. Min. & Man. lstM .l.gr.,s.f.,g.,dr’n a tl0 5 .c
656
2d mortgage, gold (does not cover lands).......c* 656
Dakota Extension 1st mort.,gold ($12,000 p.m.) 473
Consol, mort., gold ($13,344,000 are 6s).......c&r ,426
Montana Exten. 1st M., gold ($25,000 p. m.).o*&r 411
Pacific Extension M. for £6,000,000, gold..c*&r
Minneap. Cn.RR.lst M.,gold,gu. ($550,000 are 5s)
East of Minn. 1st M., g.,gu. ($50,000 p. m.).c*&r
70
Montana Cen. 1st M., g. ($40,000 p. m.) guar, c&r 203
Green Bay Winona A St. Paul—1st mortgage........ c 219
Funded coupon bonds.................................. .
2d mortgage income bonds, non-cumulative___r 219
Hannibal A St. Joseph—1st M. Quincy & Pal. RR.c’
13
1st mortgage Kansas City & Cameron R R ........ c
53
Consolidated mortgage for $8,000,000...............c
292
1887
$1,000
1869
1869
1884
1884
1,000
1,000
1,000
1,000
1886
1,000
100
100
1,000
100 &c.
1,000
1,000
1,000
l,000&c
£100 &c
$1,000
l,000&c
l,000&c
1,000
500
1,000
1,000
1,000
1,000
1862
1879
1879
1880
1883
1887
1890
1882
1888
1887
1881
1886
1881
1867
1867
1881
100
Amount
$3,420,000
4,986,081
3.934.000
1.441.000
3.000.
4.336.000
275.000
750.000
20 , 000,000
20, 000,000
366.000
3.999.000
8.000.
5.676.000
27,471,000
7.468.000
£ 2 ,000,000
$2,700,000
4.250.000
6, 000,000
1.600.000
280,830
3.781.000
381.000
843.000
6.775.000
Bonds—Princi
INTEREST OR DIVIDENDS.
When Due,
Rate per When Where Payable, and by pal,
Stocks—Last
Cent. Payable
Whom.
Dividend.
J. & J. N. Y., Security & Tr. Co. July 1, 1927
1 g. J. & J. N. Y., Winslow, L. <feCo.
A. & O.
do
do
000 i6 g- M. & N.
do
do
5
M. & S.
do
do
6
5 g. J. & J. N. Y., Winslow, L. & Co.
1^
N. Y. Office, 40 Wall St.
l^ g . Q.—F.
do
do
7
J. & J.
do
do
7 g. J. & J. New York and London.
000 6 g. A. & O.
do
do
6 g. M. & N. New York, 40 Wall St.
4*2 & 6g. J. «fe J.
do
do
do
do
4 g- J. & D.
_ , 4 g- J. & J . N. Y. & Lon., Baring Bros
5 & 6 g. J. & J. New York, 40 Wall St.
5 g- A. & O. N.Y.40Wall; Bos.,Lee.H
6 g. J. & J. New York, 40 Wall $t.
6
F. & A. Coups. Feb.,’ 89, bought.
6
F. & A. Coups.of Aug.,’89, b’ght
M. & N.
8
None ever paid.
F. & A. N. Y ., Bk. of No. America.
8
10
J. & J.
do
do
6
M. & S.
do
do
Oct.
Oct.
Nov.
Sept.
1,
1,
1,
1,
1899*
1890
1890
1924
July
Aug.
Aug.
July
July
Oct.
Nov.
July
June
July
July
Apr.
July
Feb.
Aug.
May
Feb.
Jan.
Moh.
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
19 2 «
1891
1891
1892'
1900
1900
1910
1933
1937
1940
19221
19081937
1911
190«
1911
1892
1892
1911
ending June 30,1890, gross earnings, $227,393; net, $97,318; surplus leased to the Richmond & Danville for 20 years from January 1,1889r
over charges and 10 per cent dividend, $25,415.
(with privilege of renewal), the rental to be net earnings, and the Rich*
F o rt W a y n e & J a c k s o n . —Owns from Jackson, Mich., to Fort mond & Danville agreeing to make up any deficiency in these to meek
W a y n e ln d ., 98 miies. On August 24, 1882. leaped perpetually to fixed charges, all such advances, however, to be a preferred chargeLake Shore & Michigan Southern at a rental of $126,027, equal to 5io next ahead of the income bonds (see V. 47, p. 744).
On June 1,1891, leased the Central Railroad of Georgia (which see)per cent on the preferred stock, and after 1887 any net earnings over 8
per cent on preferred stock to be paid as dividends on common stock, guaranteeing 7 per cent on stock.
Stock is $8,555,000 (par $100), and $4,378,432 of it is held by the
but not exceeding 2 per cent a year.
Richmond & West Point Term. Co., which owns also $1,397,621 income
W o r t h Sc D e n v e r C ity .—(See Map Union Pacific Denver A 5s of 1888, and has deposited them, as well as the stock, as security forGulf)—Owns from near Fort Worth, Texas, to Texas State line. 454 its collateral trust of 1889. The second consolidated mortgage (trustee.
miles, and operates Pan Handle RR., 15 miles. The Union Pacific Den- Central Trust Company) secures $5,400,000 second mortgage bonds,
ver <fe Gulf owns $7,766,000 of this company’s $9,275,000 stock. See and also, subject to these, $5,400,000 second mortgage non-cumulative
abstract of mortgage, V. 45, p. 440 (trustee, Mercantile Trust Co. of New incomes, both issued at $9,000 per mile. The equipment mortgage
v
$160,000 equipment bonds. Last annual report was b on d sorl8 8 9 are payable by a sinking fund and are guaranteed (en
P i237- In March, 1891, $500,000 new bonds were authorized dorsed) by Richmond & Danville. There are car trusts, payable at theby the Fort Worth & Denver Terminal Company. The stock of the Pan Atlantic Trust Company, New York City, for which provision is madeHandle RR. is owned, and its bonds (except $7,000) are held by the under the equipment mortgage.
trustee of the U. P. Denver & Gulf consol, mortgage.
duly -*-> 1890, to May 31,1891 (11 months), gross earnings on.
h ) y®hr ending October 31, 1890, gross earnings were $2,012,518: 566 miles were $1,806,053, against $1,604,367 on 518 miles in 1890,
In year ending June 30,1890, gross earnings were $1,762,938; n et,
“ et>o i l 63,130ftxed charges, $484,080; balance, $279,040.
In 1889, gross, $1,400,077; net, $512,128. (V. 49, p. 720, 788; V 50 $163,371.; deficit Under charges, $499,010. In 1888-89 gross, $1,330,p. 1 T 3 ; V. 51, p. 875; V. 52, p. 2 3 T, 428.)
» P/¡so, v. 00, 698; net, $147,244. (V. 49, p. 235; V. 52, p. 462, 862.)
F o r t W o r t h Sc K . G r a n d e .—In operation Fort Worth, Tex., to
Comanche, 113 miles; extension to Brown wood will be completed in
August, making total mileage 145 miles. The line is further projected
to iron fields in Llano County. See V. 52, p. 81, 642. Mortgage trustee
is Central Trust Company, New York. Stock authorized, $3,500,000:
outstanding, $2 ,1 1 8 ,0 0 0 ; par, $1 0 0 .
From January 1 to June 30,1891 (6 months), gross earnings on 113
miles were $108,596, against $58,673 on 65 miles in 1890.
loOO* road being under construction, gross earnings "were $194 it :
^ , 2 0 3 - fu rp lu .,
* ® iv e » t p n H a r r is b u r g Sc S a n A n t o n i o .—(See Map o f Southern
Pacific.)—Owns from Houston, Tex., to San Antonio, TexT, 217 milesLaGrange 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
2 1 ^ « 7 !o 9 3 % l '* l t o “ 6 g S ? g ® ”* WUCl1 ° WM “U but W 86’The first mortgage covers 256 miles of old road and 1,076,331 acres of
land valued at about $L,467,000. It has a sinking 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 Pacific
Company and by large holders of Southern Pacific securities, who agreed
not to collect interest after July 1,1889, unless it should be currently
earned. The interest charges are thus reduced annually by $381,240.
There is also $101,719 Texas school debt outstanding. Floating liabili
ties Jan. 1, 1891, $2,485,076; floating assets, $632,695.
*
e°^ months), gross earnings were
?QQA86V6611io ^ 8t" $ 1>6*4>743 in 1890; net. $279,806, agst. $294,415 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.
Cta lV mS ton
* H e n d e r s o n o f 1 8 8 2 .—Owns from Galveston, Texas, to Houston, Texas, 50 miles. The road was sold in foredosulre December 1, 1871, and again August 1,1882. Leased for 99
years to the International & Great Northern RR. Co. and bonds guar
anteed by that company. Stock, $1,000,000; par, $ 100. In year endOct- 1, 1890, gross earnings were $418,457; net, $69,116 In
S
’« , 2 ’ net’
^ calendar year 1888 gross,
f3 7 2 ,6 9 9 ; net, $28,554; rental of track. $139,455; total net income
$168,010; interest, <fcc., $106,063; surplus, $61,947.
’
G e o r g ia C a r o lin a & N o r t lie r n .—In progress from Monroe,
i
^ Atlanta, Ga., 268 miles, of which 165 miles are com
pleted and the balance under construction. The line is part of the
Seaboard system, and the bonds are guaranteed (by indorsement on
each bona) by the Seaboard & Roanoke and Raleigh <fe Gaston railroad
companies. They cannot be redeemed before maturity. The Mercan
tile Trust & Safe Deposit Company of Baltimore
is _trustee
of the mort_
_11
• ,
_v
Ffl.D’A*DAO ahorronr nr antvtn in IT A A w non
ra.
gage; 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 o f the company. (V. 50, p. 138, 313, 451.)
^ » » a p a n y .—This company was formed in 1887 to control
o ^ ? «Tftoo ^ ^ traTta^ai l0a<l & 1
ComPany, ° f Whose stock it
+ r-i>8 ° T n ,8toc5 ° i $12,000,000 is all owned by Richmond & West Point Terminal, and deposited as part security for that
also'oiras8^
044^ 0?m ^
h 1«0«Georgia
1889-’ ®ichmond
West Pointf
Terminal
also
owns $3,447,000
ofAthe
Company’s&collateral
trust
bonds.
on^b° o f *
& G u lf*—Owns from Columbus, Ga., to McDon-
< m A .
st ook autiu,t'
net9&5fl
o ^ l” 1New
w 7 2 York
v 1 1.9office,
9^ 8 montll0
>\ gross
earning,
were $ 130,0 92,■ net,
$59,051.
7 Nassau
Street.
8
A t^°taSr^
f f SGreenville,
S S C iii E Miss.,
°f 458 miles-* Woorliawn
West Point Terminal.)
Atlanta,
Ga.,T to
-r acoomat.
A ia .,19 ujiles: small branches, 18 miles; Deer Creek toanch rthreeSeet
gauge), 22 miles; other lines, 48 miles; tota l/566 miles In Nov™1888?
Georgia R a ilro a d Sc R a n k in g C om p an y.—Owns from
Augusta, Ga,, to Atlanta, Ga., 171 miles; branches to Washington
ana Athens« 58 miles; Macon <fc Augusta Railroad (proprietary road)*
Camack, Ga., to Macon, Ga.. 74 miles; trackage,
UWUjSC, *4 muea;
um, w
v
miles; B
total,
307
miles. Owns also one-half the stock of the Western Railway of Ala
bama (the Central Railroad of Georgia owning the other half), and hasa 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 owning the railroad property indicated above,
has a banking department. In April, 1881, it leased its railroad (307
miles) and its interest in the other railroad companies for 99 years toW. M. Wadley and associates, for the Central of Georgia and the Louis
ville & Nashville railroads, at $600,000 per year.
1
,1880—1“ 1881, 9*2 per cent; in 1882, 10V , from
1883 to 1887, 10; in 1 888,103t; in 1889 and 1890, each, 11; in 1891,
in January and April, each, 2%. In year ending March 31, 1890/
company’s income w as: From rental, etc., $600,106; dividend (No 4>
from bank, $100,000; total, $700,106; deduct interest, etc., $180,892;
dividends paid (11 per cent), $462,000; balance, $57,214. Net earnings
of bank for year were $59,042 and total bank surplus March 31,1890
after payment of $100,000 dividends, was $191,850—(V. 46, p 245 )
From Juiy 1,1890, to May 31,1891 (11 months), gross earnings o f
^ - r£1ii.oad8, (307 mile8> were $1,780,406, against $1,576,549; net,
S oi£ ll^ 3’ ag^1?£i.^463>727- Deficit to lessees on lease was in 1888-9,
$78i°95^—( Y 8^ 9° 5373)959' Balance due lessee, June 30, 1890»
G e o r g ia S o u t h e r n Sc F l o r i d a . —Owns from Macon, Ga..
to Palatka, Fla., 285 miles in all; completed in January, 1890.
The road was built by the Macon Construction Co., which was afso buildmg tli© Macon & Birmingham RR. from Macon to Birmingham. 230
miles, and the Macon & Atlantic from Macon to Savannah, 165
miles. In 1891 Mr. Wilbur F. Sparks, President of this com
pany, was appointed its receiver, and also receiver of the Macon Construction Company. In May, 1891, he reported that he would be una»ie to pay the July coupons out of earnings, these having beenexpended for various purposes; but he was subsequently permitted b y
the Court to raise funds therefor. (See V. 52/ p. 796; V. 53. p. 951
Trustee o f mortgage is the Mercantile Trust & Deposit Co. of Balti
more. Stock is $4,275,000; par, $100.
o ,Sr01£ July 1, 1890, to May 31,1891 (11 months), gross earnings on
«2 ?
^ re$ 7 ? 8’ * ^ ’A g£iust $478>013 in 1889-90 on 199 miles;
net, $233,241., against $194,610.—(V. 51, p. 609; V. 52, p. 350, 427, 795
V. Do, p. 95.)
r
a. O m u d R a p id s Sc I n d i a n a .—( See Map o f Pennsylvania RR.)—
F01?. Wayne’ !ud., to Mackinaw City, 367 miles; Manistee
Branch, 21; other branches, 4 0 miles; total owned, 428 miles; leases,
and ojmra tea Cincinnati Richmond & Fort Wayne RR., 86 miles: Tra
verse City RR., 26 m iles; Muskegon Grand Rapids & Indiana RR., 37
miles—149 miles. Total, 577 miles.
’
The Grand Rapids & Indiana RR. is operated in the interest of the
Pennsylvania RR. Co., and $3,934,000 oi the 1st mortgage bonds were
guaranteed by that company. First mortgage land grant bonds may be
bought (not drawn) at 110 out of proceeds o f land sales. There was in
Ai
f££d f° r thel£ Ja-uuaryl, 1891, $2,752,780 cash and bills
T>Th?J ape 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
£u® 3 Per cents outstanding the company itself on January 1,1891, held
” mJ’000' T uere is a real estate mortgage for $48,250.
haf a land grant and sold in 1890 38,690 acres fo r
$316,851. The lands unsold on January 1,1891, were 329,844 acres.
The assets $696,628 bills receivable, etc., and $2,056,152 cash.
From January 1 to May 31, 1891 (5 months), gross earnings of the
waola 8£8& “ (567 “ dies) were $1,175,198, against $1,275,946 in ’9 0 ;
net, $323,830, against $427,098; deficit under charges, $136,430.
against deficit $16,956.
T
INVESTORS’
SUPPLEMENT.
[VOL. Lili.
Subscribers w ill confer a great favor by g iv in g im m ed iate notice o f any error discovered In these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
_ _______________ r a i l r o a d s ._________________ I Miles Date Size, or
pal,When Due.
Where
Payable,
and
by
Stocks—Last
Par
OiUstanding.
Rate
perl
When
of
For explanation of column headings, &»., see notes1 of
Outstanding
nATlt.
payable
Dividend.
Whom.
on first page of tables.
Road. Bonds Value.
Harrisb. Portern’th Ml. Joy <6Lane.—Stock,7 p. e.gu.
1st mortgage (ext’d in 1883), int. guar. Pa. RR. .r
H artford «6 Connecticut Western—Stock...................
1st mortgage............................................. - ..............
Housalonic—Stock, common.....................- - ..............
Preferred stock, 4 per cent non-cumulative........
Consol, mortgage, not payable till 1910.............. New consoL mortgage (for $3,000,000)............. c
Houst. East c6 West Texas—1st M..,gold($7,000 p.m.)
2d mortgage, land grant, $5,000 per mile........ c
Houston dkTexas Gent.—1st M. 1.gr.,g. ,red. at 110.c*&r
Consol. M.,land gr., gold, int.guar. by So.Pac.c*<fer
Gen. mort.,goid, interest guar, by So. Pac... .C'&r
Debent., prin. and int. gu., ($705,000 are 6s)c*.&r
Waco & Northwest 1st M., gold (Bremondto Ross).
Hud. Sus. Bridge dkN. E. By.—lstM.$10,000,000.c*&r
Huntingdon dkBroad Top—Common stock..........
Preferred stock, 7 per cent, non-cumulative...
1st mortgage, extended in 1890........................
2 d mortgage, gold . ........ - -— - .......................
3d mortgage, consolidated...........................
Hutchinson dk Southern—1st mortgage................
54
54
104
74
164
192
192
463
463
463
"58
"64
64
64
74
64
_ _ . Office
$50 $1,182,550
3ia Ji & , J. ...Phila.,. Company’s
J. & J.
do
do
700.000
4
1853 500 &c.
F. & A. N. Y., Cent.N.E.& West.
1
100
2,635,700
J. & J.
Hartford.
1,000
608.000
5
1883
100
36,500
2,867,200
100
Bridgeport, Conn.
A. &
4
100,000
1880 500 &c.
N. Y., Farm. L. & Tr. Co.
1,000
2.839.000
1887
5 g- M. &
Last
coup, paid May,’86
M.
&
1,000
1.344.000
1878
750.000
1,000
I s- J. & N.Y., Office Mills Buildg
1883
1,000
8.064.000
1890
5 «• J. &
do
do
1,000
3.919.000
1890
6 g. A. &
do
do
A. &
1,000
4.305.000
1890
4
do
do
6 A. &
1.116.000 4 & £•
1890
Last
paid
July,
1885
1,000
1.140.000
7 g. J. &
1873
New York and London,
1,000
1888
5 g. F. &
(1 )
Phil.
Of.,
Am.
Life
Bldg,
50
1,371,800
2
do
do
50
1,990,500 See rem, J. &
do
do
500
416.000
1854
4 g. A. &
do
do
F. &
500
367,500
1857
do
do
1,000
I e- A. &
1.497.000
1865
M. &
400.000
5
1889
The income accounts showed in 1887 a surplusof $126,287; in 1888,
deficit $79,816; in 1889, deficit $28,432; m 1890 a -surplus of
$30,292. (V. 50, p. 7 9 9 ; V. 52, p. 4 2 6 , 8 9 8 .)
Great N orth ern .—(See Map.)—Operates under lease the St. Paul
Minneapolis & Manitoba Railroad, extending from St. Paul, Minn., via
Barnesville to Emerson, Manitoba, 392 miles; Minneapolis to Gretna,
Manitoba, viar Breckenridge, 413 miles; Crookston Junotion, Mmn., to
Great Falls, Mon., 782 miles; Breckenridge, Mmn., to Langdon, Dak-»
206 miles; Evansville, via Tintah Junction, to Ellendale, Dak., lo o
miles; numerous branches (to Aberdeen, Hutchinson, Watertown, &c.),
846 miles; total, St. Paul Minneapolis & Manitoba, 2,775 miles. Also
operates under contract the following proprietary roads: 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, 3 miles; total, 220 miles. Total in Mani
toba system, 2,995 miles. Also owns the entire stock of the following
lines, but keeps earnings separate, their income appearing in the state
ment of earnmgs below only as revenue from stocks and bonds owned
or as other receipts: The Eastern of Minnesota, Hinckley to near Duluth,
71 miles; the Montana Central, Great Falls, Mon., to Butte, Mon., 171
miles; branches, 49 miles, and leased line, 15 miles; total, 306 miles.
Grand total, 3,301 miles.
_„
. •
Extension to Pacific Coast, 780 miles, is in progress, 121 miles having
been opened for business December 7, 1890.
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 gold 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
is issued at present. The Manitoba stockholders were offered 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 over $22,000,000. With the proceeds of sale
o f 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 St. Paul Minneapolis & Manitoba Company was organized May 23,
1879. It had a land grant of 3,848,000 acres, and acquired the Minne
apolis & St. Cloud Railroad grant, 476,864 acres. The proceeds of
land sales are applied to the redemption of 1st-mortgage bonds at or
under 105.
.
_
- i __
The land sales for year ending June 30,1891, were 110,9 o l acres, for
$813,973, and 256 town lots, for $14,926. The net amount due on land
contracts June 30,1890, was $704,583; lands unsold, 2,538,326 acres.
»»Dividends on Great Northern stock: November 1,1890,1 per cen t; in
1891, Feb. 2,1; May 1 ,H i; August 1 ,1 ^ .
Price of stock—In 1890,60@86: in 1891, to July 17 inclusive, 72® 92^.
Dividends on Manitoba stock since 1880: In 1881,3 per cent; in 1882,
9; in 1883, 8; in 1884, 7 ^ ; in 1885 and since, 6 percent yearly.
The consolidated mortgage of 1883 is for $50,000,000, of which
$19,426,000 were reserved to pay prior liens. The mortgage on the
Montana Extension is for $25,000,000, to provide for extensions,
$15,000 per mile being allowed for second track. See abstract of mort
gage in V. 45, p. 342; Central Trust Company of New York, trustee.
The mortgage, for £6,000,000 on the Pacific extension (trustee of mort
gage Central Trust Company 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, p. 82.
From July 1,1890, to June 30,1891 (12 months), gross earnings of
the St. Paul Minneapolis & Manitoba on 3,019 miles were $10,555,493,
against $9,325,601 on 3,006 miles in 1889-90. For the same period (12
months) gross earnings of the total Great Northern system on 3,278
miles were $12,661,848, against $11,045,793 on 3,260 miles in 1889-90.
Fiscal year ends June 30. Report of Great Northern for 1889-90 in
full in V. 51, p. 658, 679. 682, gave the following statement, and also
the earnings of the Montana Cent, and the East, of Minnesota railways:
GREAT NORTHERN FOR FIV E MONTHS ENDING JUNE 30, 1890.
Disbursements, <£c.
Receipts.
Gross earnings...............$3,361,332 Operating expenses, &c.$l,763,343
101,089
Intere’t on bonds owned 122,308 State ta x........................
Div’nds on stocks owned 313,834 Rentals pd. and accrued. 1,704,625
.........
413,528
Rev. from other sources
185,112 Profit and loss
July 10,1891
July 1, 1913
Feb. 20, 1891
July 1, 1903
Apr. 1, 1910
Nov. 1, 1937
1898
Jan. 1, 1913
July 1, 1937
Oct. 1, 1912
Apr. 1, 1921
Oct. 1, 1897
July 1, 1901
Feb. 1, 1938
July 27,1891
July 27,1891
Sept. 30,1920
Feb. 1, 1895
Apr. 1, 1895
Nov. 1, 1919
INCOME ACCOUNT.
1889-90.
1888-89.
1887-88.
1886-87.
Receipts—
$
$
4,6ol,783
3,586,499
4,891,918
3,713,553
Net earnings.....................
203,287
161,870
271,938
415,782
Revenue from landdep’t.
751,903
450,759
514,447
Other receipts..................
Total income............... 4,643,782 5,614,615 4,500,272
Int’st, 6 p. c. dividends,&c. 4,386,191 5,015,689 4,631,009
927,089
598,926 df.130,737
257,591
Balance, surplus..............
— (V. 49, P. 342, 403, 43D, tt&l, t»£>£>, 073; V. ou, p. ziuo, o t f , v. ox, u.
240, 537, 6 5 8 , 6 7 9 ,6 8 2 , 787; V. 52, p. 82, 203, 351, 973; V.-53, p. 95.)
Green B a y W in o n a & St. P a u l.—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. Prefeired stock
is $2,000,000, 7 per cent, and common stock $8,000,000; both stocks
$100 shares.
,
„ .
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 Railroad—
which see. In August, 1890, the Farmers’ Loan & Trust Company,
trustee of the first mortgage, was appointed trustee in possession to
facilitate the plan of reorganization, which is expeoted to be carried
through in che near future. See V. 51, p. 240.
, a,nnnaAA , , oor>
In 1890 gross earnings were $384,104, against $296,844 in 1889.
In vear 1889-90 gross earnings were $330,319; net, $62,747; interest,
taxes, &o., $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; Y. 49, p. 113,145, 341, 654; V. 51, p. 276.)
H a n n ib a l & St. J osep h .—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 Qumcy. m ., 13 miles;
leases, 3 m iles; total operated, 295 miles. Owns bridge at Kansas City.
Stock—Common, $9,168,700; preferred, $5,083 024; par, $100. Chi
cago Burlington & Quincy RR. Co. owns $14,243,100 stock. Preferred
stock has prior right to a non-cumulative dividend of 7 per cent > then
common to 7 ; then 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, n il; m 1889, 5 ;
in 1890 $1 93 per share. The income accounts have shown as foHows.
Surplus over charges: In 1890, $102,071; in 1889, $276/732; deficit in
1888, $46,091; surplus, $397,562 in 1887; $68,210 m 1886.
H arrisb u rg P o rtsm ou th M o u n t J oy & Lancaster.—Owns
from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Middletown,
Pa., to Columbia* Pa., 18 miles; total operated, 54 miles. Leased to the
Pennsylvania RR. Co. for 999 years from January 1, 1861, the rental
being 7 per cent on the stock and interest on the bonds. Stock, $1,182,550; par $50. Forms part of main line of Pennsylvania RR.
H a r t f o r d & C o n n e c t ic u t W e s t e r n .—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 interest in the road was purchased 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 England & Western, the rental paying charges and 2
per cent per annum on the stock, and in March, 1890, the lease was ex
tended on the same terms till August, 1939 There are still outstandu«
$84,300 Connecticut Western RR. 7 per cent bonds, due 1900, convertt-
^ to l^ m o n ttis ending August 31,1889, gross earnings $325,574; net,
$52 669' surplus over fixed charges, $11,306. (V. 48, p. 190, 251, 399,
526’; Y. 49, p. 51, 173, 207; V. 50, p. 422.)
H o u s a t o n lc .—Owns Bridegport, Conn., to State Line, Mass., 74
miles ¡Brookfield Junction to Danbury, 6 miles; West Stockbridge
Railroad, 3 miles (stock owned); Botsford to Huntington, lO miles.
Leases-Berkshire Railroad, 21 m iles; Stockbridge & Pittsfield Railroad,
23 miles- Danbury & Norwalk Railroad, Danbury to Wilson, Conn., 26
branches? 10 miles; New Haven & Derby, .17 mfies; total
Total......................... $3,982,587
T ota l.........................$3,982,587 operated, 190 miles. Controlled by parties mterested in the New York
The following shows the result on the St. Paul Minneapolis & Mani
toba on the old basis, for the fiscal years named. The change in the &Comim>ngstock is exchangeable for the new preferred stock on basis
method of keeping the accounts, due to the lease of the road, makes it of one and one half shares of common for one of new preferred. There
impossible to give in the income account of 1889-90 more than the are also $61,000 5 per cent Danbury branch bonds due Octoberl,1912,.
Redeemable October 1, 1892, and rolling stock certificates $200,000surplus over all charges:
In September, 1886, the Housatonic leased the Danbury & Norwalk Rail
c l.
MINNEAPOLIS & MANITOBA SYSTEM.
for 99 years, and in July, 1889, leased New Haven & Derby.
'
1886-87.
1887-88.
1888-89.
1889-90. road
Dividends on preferred stock since 1876.—From 1877 to 1884, 8 per
Miles operated June 30—
1,935
2,648
3,030
3,006
cent; in 1885, 5; in 1886, 6; in 1887, 3; in 1888 and since, ml.
For year ending September 30 1890, gross earnings were $1,520,124,
Total gross earnings.......... 8,028,448 9,561,905 8,586,566 9,582,931 against
$1,204,213 in 1888-89; net, $672,511, against $531,293; surplus
Operating expmises&taxes 4,314,895 4,669,987 5,000,067 4,976,148 over taxes,
rentals, interest, &c., $193,074, against $115,958. (V. 49
>
p.
654;
V.
50, p. 276, 451, 741, 9 0 8 .)
Net earnings................. 3,713,553 4,891,918 3,586,499 4,606,783
BONDS.
AND
STOCKS
RAILROAD
J uly , 1891.j
64
INVESTORS’
[Y ou LIU.
SUPPLEMENT.
f flnfer a great fa v o r by g iv in g im m ed ia te notice o f a n y error discovered in these T a b le».
------------—*— '
.
-------- : ■
~
—
ÌRaM/Ì#
Bonds—Princi
DIVIDENDS.
pal,When Due.
RAILROADS.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par
of
Outstanding Cent. Payable
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Illin ois Central—Stock........................... - - ........... - ■- ■
Leased line 4 per cent stoch, guar, (see remarks..
1st mort. o f ( Sterling bonds of 1 8 9 5 .......--- |
1 8 7 4 f o r Sterl. of ’03, £10,000 dr’n yrl.c*
815,000,000 •{ Sterling bonds of 1905............. . t 706 <
secures all 4s of 1886, due 1951, gold . .c*
equally....... 13*28 of 1886, due 1951, gold, .c* J
“Trust bonds sterl. (securedby Ch. St.L.&N.^cons.
1st M. on Ch. & Sp. RR. (Gilman to Springfield) .c 111
1st M . Middle Div.,Otto to Norman June. &brs.r 131
854
•Collat. trust bonds, gold (for $15,000,000)$& £.c
567
’Chicago St. Louis & New Orleans 1st mortgage..
567
Consolidatfd mortgage,gold ($18,000,000) -C*&r 567
100
Memphis Division mortgage, gold - . . . . . . . . - - •c
Cairo Bridge bonds (hern by Illinois Central)..
ÏÏ 7
Indiana Illinois Iowa—New 1st mortgage, gold.
117
1st and 2d inc.Ms. ($250,000 each) 4 p.c.non-cum.
Indianan. Decatur ¿ Western—1. D. & Sp.lstM.,g.s.f. 153
Indianap. Decatur & Westem 1st mortgage, gold 153
2d mort. (income non-cum. till Jan., 1893) . . . . . . c 153
Income bonds, non-cumulative, drawn at 1 0 0 ...i 153
Indianapolis Vincennes—1st mortgage, guar... .< 117
2d mortgage, guaranteed Penn. C o.. . . . . ---- - - - - -< 117
776
International & Great Northern—lBt mort., gold...
776
.............. c
2d mortgage, gold .
Colorado Bridge bonds, sinking fu n d ............... 50Ï
Iowa Central—1st mortgage, gold, $15,000 p. m. . c
Keithsburg Bridge 1st mortgage, guar............ g
1875
1874
1875
1886
1886
1886
1878
1881
1888
1877
1877
1881
1889
1890
1889
1889
1876
1888
1888
1888
1867
1870
1879
1881
1880
1888
1885
$100 $41,495,400
100 10,000,000
2,500,000
£200
3,700,000
£200
1,000,000
£200
1,500,000
1,000
2,499,000
1,000
5,266,000
£200
1,600,000
1,000
968,000
1,000
500 &c. 13,731,000
1,374,000
1,000
80,000
1,000
1,000 11,260,000
3,250,000
1,000
See remarks.
800,000
1,000
500,000
500
1,800,000
1,000
142,000
1,000
1,213,000
1,000
795,000
1,000
1,700,000
500 &c.
1,402,000
1,000
7,954,000
1,000
500 &c.
7,03*,000
225,000
1,000
5,917,000
1,000
591,000
1,000
2
2
6 g.
5 g5 g.
4 g.
3 ^ g.
3*2 g.
6
5
4 g.
7
6
5 g4 g.
5
4 g.
4
7 g.
5 g.
5 g.
10.
7
6
6 g.
6 g.
' 7
5 g.
6 g.
Sept. 2, 1891
July 1, 1891
Apr. 1, 1895
Apr. 1, 1903
Dec. 1, 1905
Jan. 1, 1951
Jan. 1, 1951
July 1, 1950
Jan. 1, 1898
Aug. 1, 1921
Apr. 1, 1952
Nov. 1, 1897
Deo. 1, 1907
June 1 5 ,195|1
Dec. 1, 1951
1950
Dec. 1, 1939
N.
Y.,
Metropol.
Tr.
Co
J. & D.
M. & S New York, 214 B’ dway.
do
do
J. & J.
London.
A. & O.
A. & O. Lond on,Morton,R.& Co.
do
do
J. & D.
J. & J. New York, 214 B’dway.
do
do
J. & J.
J. & J. London, Baring Bros.
J. & J. New York, 214 B’dway.
do
do
F. & A.
do
do
A. & O,
do *
do
M. & N.
do
do
J. & D.
do
do
J15&D15
do
do
J. & D.
A. & O.
F.
M.
M.
M.
M.
J.
J.
&
&
&
&
&
&
&
NeW York,
do
A. N. Y „ Farfti. L. & Tr. Co
do
do
N.
N. Last coup. pd. Nov., ’ 88
S. Last coup. pd. Sept., ’ 88
N, Last coup. pd. Nov., ’ 88
D N. Y. City, Merc. Tr. Co.
D N. Y., Central Trust Co.
Jan. 1, 1906
Oct. 1, 1947
Jan. 1, 1948
Feb.
May
Nov.
Sept.
May
June
June
1,
1,
1,
1,
1,
1,
1,
1908
1900
1919
1909
1920
1938
1925
and leased it from July 1,1882, for 400 years, at 4 per cent per annum
on stock, and issued the above 4 per cent leased line stock in exchange
for a like amount of the Chic. St. L. & New Orleans stock (see below).
The stock of the Dunleith & Dubuque Bridge, $1,000,000, is owned. As
to suit to annul the lease of the Cedar Falls & Minnesota to the
Dubuque & Sioux City, see Dubuque & Sioux City. Fiscal year ends
June 30. Annual election is held in October.
S t o c k s a n d B o n d s .— The leased line stock w a s issued 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 in the payment of
any semi-annual dividend of 2 per cent on the leased line stock entitles
the stockholder to his pro rata share of the stock pledged.
In Oct., 1890, it was voted to issue (but only at par) $5,000,000 newstock, making the total stock $45,000,000. (See V. 51, p. 114, 493, 753.)
Dividends since 1 8 7 0 -In 1871,10 per cent ; in 1872,10; in 1873,10;
in 1874, 8; in 1875, 8; in 1876, 8; in 1877, 4 ; in 1878, 6 ; m 1879, 6;
in 1880, 6 ; in 1881, 7 ; in 1882, 7 ; in 1883, 8 and 17 per centm Chicago
St Louis & New Orleans stock exchangeable for leased line certificates;
in 1884,10; in 1885, 8 ; in 1886, 7V , in 1887 and 1888, 7 ; in 1889,
m ; in 1890, 6 ; in 1891, March 2, 3 ; September 2, 2 per cent.
Texas 57 miles; Fort Worth & NeW Orleans Ry., Garrett to Fort Worth,
Price of stock -In 1880, 9 9 ^ ® 1273s; in 1881,; 124®146^; k m 1882,
■41 miles; Central Texas & Northwestern, 12 miles; other, 4 .miles; and 127%®15012; in 1 883,124®148; in 18 8 4,110®140; in 1885,1191s®
controls Texas Central RR., Ross to Albany, 177 miles, with branch, 140; in 18 8 6,130®143i2; in 1 8 8 7,114®1S8; in 1888,
: in
■Garrett to Robert, 52 miles. Land grant from the State of Texas was 1889,106® 118%; in 1890,85®120; in 1891, to July 17,incl., 90®103!a.
In addition to the bonds given in the table as outstanding, the com
1 Foreclosure Tale^of the Houston & Texas Central Railway (ex pany itself held on July 3,1891. $1,269,000 of the 4 per cents of 1952
cepting its Waco & Northwestern division) was made September 8, and $560,000 Chicago St. Louis & New Orleans consolidated 5s, thern1888 to the reorganization committee, and in Jan., 1891, the property t e re s t on which is included on both sides of the income account, $5,w ,s turned over to the H, & T. C. Railroad Company. For plan of re- 266,000 o f the latter issue being also held as collateral for the trust
OTganization see V. 45, p. 792, 820. The bonds are given m table as they bonds of 1886. The company on July 1,1890, also owned all the Chi
w iflrta n d under the reorganization plan. Interest charges will be cago St. Louis & New Orleans Cairo Bridge bonds and $1,295,000 Du
$914,248; taxes (estimated), $70,000.
buque & Sioux City 5s of 1938.
^
v The Southern Pacific Company guarantees interest on all the bonds
For the Chicago St. Louis & New Orleans the lessee guarantees the
*n d both principal and interest of the debentures. The first mortgage principal and interest of all the outstanding bonds prior to the 5 per
bonds and the consolidated mortgage bonds may be called for redemp cent bonds, and by an endorsement on the latter bonds guarantees the
tion at 110 with proceeds of land sales. See full abstracts of all the payment of the interest on the same until the principal is paid. The
•mortgages in V. 52, p. 242. The first mortgage is a first hen on some- trust bonds of 1886, which are secured by deposit of a like amount of
thing less than 2,000,000 acres of land and the consohdated mortgage Chicago St. Louis & New Orleans consols, are to be secured by any
a first lien on about 1,000,000 acres. Of the consolidated 6s $l,1 4 9r future mortgage on the Illinois Central lines. Of the Chicago St. Louis
4)00 (not included in the amount outstanding above) are held as part & New Orleans first mortgage 7s o f 1877, $541,000 are a prior hen on
«ecurity for the general mortgage 4s.
.
that part of the road in Tennessee.
. '
, .
T h e collateral trust bonds of 1952 are for an authorized amount of
The new stock is $10,000,000 and the old stockholders paid a cash as
eessment of $71 40 per share to obtain their pro rata share of the new $15,000,000, and secured by pledge with the U. S. Trust Co. of New
*tock (See V. 51, p. 493.) There are $60,000 Union Depot bonds out York of $16,350,000 5 per cent 1st mortgage gold bonds of subsidiary
standing The Waco & Northwestern bonds are not a liability of this railroads covering 850 miles.
■ -¿ib
.
■company; foreclosure suit is in progress under the>W. & N. W. mortgage.
Operations and F inances.—The company, to extend its business, in
The earnings, &c., for the calendar years 1887,1888 and for the year 1887 acauired the leased lines in Iowa by purchase of their stocks.
•ending September 30 in 1889 and 1890, were as follows, 507 miles being
From July 1,1890, to June 30,1891 (12 months), gross earnmgs of
whole system (including Iowa lines, making total operated, 2,875 mues)
•operated in 1889 and 1890 :
^
1888-89. 1889-90. were $17,712,148 against $16,452,022 m 1889-90; net, $4,933,822,
1888.
$
Expenses—
$
ten«6h
Gross e a r n in g s .......... 2,896,999 2,786,053 3,262,362 3,863,919 agMsncM y5e’lr8eid2sJune 30. Report for 1889-90 was
in C h r o n i c l e , V. 51, p. 401, 414, 417. On the Iowa lines there was a
Operating expenses, &c. 2,717,865 2,385,060 2,561,494
deficit under charges of $204,396.
179,131
400,993
700,868
Net earnings....................
__/V 49 p 22.145,173, 269, 471, 654, 856; V. 50, p.483, 589, 703; V, FISCAL RESULTS OF ILLINOIS CENTRAL (NOT INCLUDING I O W A L IN E S ).
1889-90.
1888-89.
51, p. 84, i l 4 , 206, 240, 493, 537, 569, 680, 875; V. 52, p. 351.)
2,275
2,114
H u d s o n Suspension B rid ge Sc N ew E n g la n d R a ilro a d .— Road operated.........................................
$
$
Earnings—
•Chartered to bridge the Hudson River at Anthony’s Nose, near Peeks2,757,625
2,525,806
irin and to build a line of railroad over the bridge from Turner’ s, N. Y., Passenger...............................................
10,004,754
8,703,690
to Connecticut State line at North Salem. The mortgage (trustee, At F reigh t........... ............... - - .....................
1,685,627
1,572,217
lantic Trust Co.) will cover the bridge, 34 miles of railroad and a tun- Mail, express and miscellaneous».......
SHd o f 5 304 feet at Bull Hill. Stock, $10,000,000; par, $100. Presi
14,448,006
T ota l.................................... .................
12,801,713
dent, E d w ^ d W . Serrell, 38 Wall Street, N. Y .-(V . 51, p. 240, 569.)
9,565,104
Operating expenses, including taxes..
7,970,572
H u n tin g d o n Sc B r o a d T o p .—Owns from Huntingdon, Pa., to
4,882,902
4,831,141
Mount Dallas, Pa., 45 miles; branches, 19 miles; total operated, 64 Net earnings...................................—
66-20
62-26
miles Preferred stock is 7 per cent non-cumulative. There were also Per cent of oper. expenses to earnings.
January 2,1891, $232,000 car trusts. Bonds due in 1890 were ex
INCOME
ACCOUNT
(NOT
INCLUDING
IO
W
A
LINES).
tended till September 30,1920, at 4 per cent, payable in gold. Divi
1889-90.
dends on preferred stock since 1883—In 1884,1*2 per cent; m 1887, 2;
in 1888 and 1889, 5 yearly; in 1890, 5^ ; in 1891, January, 3; July, 4 Total net receipts (adding interest, &o)...............................
$5,644,107
of which ^ per cent extra). On common stock in 1891, July 27, 2 per
Disbursemenis—
Disbursements4^4 905
*en t In 1889 gross earnings, $523,844; net,$252,035. In 1890, gross, Interest on Illinois Central bonds— -- - ----- :'■■ v ■
.......... 1’ i
$721 879; netf$358,159; interest, $132,226; car trusts, $60,235; divi Interest on Chicago St. Louis & New Orleans b o n d s ............... 1,106,955
dends, $109,261. (V. 46, p. 190; V. 50, p. 244; V. 51, p. 20.)
Dividends on Illinois Central and Leased Line stock...............2,800,000
¿tod,4= o
H u tc h in s o n & Sou th ern .—Operates road completed in 1890 Permanent improvements and miscellaneous...........................
irom Hutchinson, Kan., to State Line, 82 miles.
,
............................ 5,635,295
Total................. ......................; ; ; ; ; ; ; ; ; ; ; ; .................................
8,812
Illin o is C entral.—(See Map.)—L i n e o f R o a d — Chicago to Cairo,
365 miles; East Dubuque to Centralia, 341 miles; Memphis Division—
90, p.245, 391, 421; V. 51, p. 114,171, 4 0 0 , 4 1 4 , 4 1 7,457, 493,
Grenada to Memphis, Tenn. 100 miles; Chicago St. Louis & New Orleans
Railroad Cairo, HI., to New Orleans, La., 547 miles; branches, 922 569, 753 ; V. 52, p. 204, 350, 351 ; Vol. 53, p. 59, 95.)
■miles • total 2,275 miles. Also leases and controls by ownership of
diana Illinois Sc Iowa.—
Owns from Streator Junction, HL,
nearly entire stock Dubuque & Sioux City and leased lines 600 miles. toIn
Knox, Ind., 117 miles; trackage (Wabash Railway) into Streator, twe
Grand total, 2,875 miles.
. .
miles.
Stock,
$3,598,000;
par,
$100,
In 1890 finances were readjusted.
O r g a n iz a t io n , L e a s e s , & c —This company was chartered in Decem
(See V. 51, p. 457.) In year ending June 30,1889, gross
lif t ?
ber, 1850, and organized in March, 1851. The lands granted were upon $*228
798net
$42,893;
surplus
over
charges and improvements,
the condition that the company should pay to the State 7 per cent of I ? 052 Gross ^ 1 8 8 8 ; $ 2 ^ 5 6 9 ; net, $43,896.
F. M. Drake, P r u
gross earnings yearly in lieu of taxes. The company acquired a con
trolling interest in the Chicago St. Louis & New Orleans Railroad dent, Centreville, la.—(V. 51, p. 457.)
H o u s to n E ast & W e s t Texas.-(N arrow g^ g e, 3 f^ t .)-O w n s
from Houston, Texas, to Sabme River at Logansport, 192 miles^ Tim
second mortgage bonds are heldas coUateral for^the debt
nrond, $750,000. Stock issued, $1 920,000. In July, 1885,
n ow
war . flimointed receiver. All but about $100,000 oi tne ursxs <w.e
deposited with the Union Trust Co. under agreement to exchange
-«nine principal and interest, for new 40-year fives issued at $20,000 a
Trine ’ Whole*issue of $3,840,000 to be used to retire old firsts, settle
S t e c la to M S ir ls W o o l)
#»*> ,
•closure sale, which was to be made MarchAL, 1890, was geven teoD y a
stav of proceedings. See references below. In 1890 gross earnmgs
were $422 522; net, $114,282. In year ending September 30, 1889,
J o s s earnings were $3K>9,577; net over operating expenses and taxes,
Js70 252 (VI 48, p .5 8 9 ; V. 49, p. 434, 616, 718, 824, V ou, p. » o i ,
48 3 , 801; V. 52, p. 279.)
July, 1891,]
RAILROAD
STOCKS AND
BONDS,
65
« 6
INVESTORS’
SUPPLEMENT.
[Y O U L i l t
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
\Bonds—PrinoiINTEREST OR DIVIDENDS.
RAILROADS.
|pal,Wheii Due.
Miles Date Size, or
Amount
cl When iWhere Payable, and by Stocks—Last
Par Outstanding
of
For explanation of column headings, &c., see notes of
Dividend. ’
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
& St. Louis.
Jacksonville Tampa &Key West—lst,g.,red .atll0.c 130*2 1884
1888
Collât. Trust loan on Fla. So. stock and bonds---8 1867
Jefferson (P a.)—1st and 2d Ms.exten. (HawleyBr.).«
37 1889
1st M. Carbondaleto S.depot,37m.,g.gd.pr.&int.c
45 1877
Joliet <&Northern Indiana—1st M. guar, by M. C. .<
3-56 1882
3-56 1865
2 d m ortgage............ ............. - ..............................
Kanawha <£Mich.—1st mort, gold, guar. p. & i..-c’ 134 1890
1890
Kan. City A rk. &NewOrl.—IstM. ($20,000per m jc 1
ÏÔ 1886
Kansas City Belt—1st ($534,000 gu. K.C.F.S.&M.).cJ
12 1889
Kansas City Br. <£- Ter.—1st M. for $1,500,000, g .c’
1890
Wyand. Co. Br. & Ter. 1st M., g. (for $1,500,000]
Kansas City Clinton <H.Spring.—1st M., g., guar. ,c’ 174 1885
Kansas City Ft. Scott & Memphis—Stock...................
Preferred stock, 8 per cen t....................................
K, C. F. S. & G. 1st M., I’d. gr..s. f., dr’n at llO .c ’ 160 1879
Mortgages, guaranteed (part drawn, at 105) .c’ 202 ’ 80-’ 84
26 1882
Kansas & Missouri R R ...................................... c’
85&86
K. C. Ft. S. & G. Ten-year coupon n otes..........
1884
Kan. City S. & M. Plain bonds (red’ble at 105).. o’
Consol, mortgage ($25,000 per mile) not dr’n. .& 671 1888
81 1887
Current Riv. RR. 1st mort., $20,000 p. m., guar.
1889
Kan. C.& M .R’y& B ’dgelstM.g.,s.f.,dr’n a t ll0 .c ’
1890
Kansas Equip. Co. 1st M. guar., s. r., red. at 110
Kan. C. Memph. <6B ir.—1st mort. (dr’n at 110).. cJ 276 1887
1888
Birmingham equipment, guar, (redeem, at 110).c’
1890
Memphis Equipment Co., guar., red, at 110........
Kansas City <£Pacific—1st mort., gold, int. guar, .c’ 125 1890
K . C. St. Jo.<6 Coun.Bl.—Con. M. (Nos. 1 to 500 pf.)*< 274 1877
61 1880
1st Ms. Nod. and Tark. Yal. RRs. s. f. (dr. at 100) .c’
$1,000
1,566,000
6 g.
1,000
2,900,000
4-4*2
1,000
300,000 4*2 & 6
1,000
2,800,000
5 g1,000
800,000
7
1,000
425,000
4*2
1,000
300,000
6
1,000
1,327,000
i g1,000
(1)
1,000
1,910,000
i g500
1,000,000
6 g.
1,000
m
5 g.
1,000
3,192,000
100
9,997,000
1 g"
100
2,750,000
4
100 &c.
2,247,000
7
1,000
1,228,000
7
1,000
390,000
5
5,000&o
320,000
6
1,000
500,000
6
1,000 11,544,000
6
1,000
1,606,000
5
1,000
2,500,000
1,000
500,000
i g1,000
6,892,000
5
1,000
1,000,000
6 g.
200,000
6
1.Ò00
4 g.
2,500,000
100 &c.
7
5,000,000
1,000
587,000
7
In d ia n a p o lis D ecatur Sc W e ste rn .—Owns from Indianapolis,
Ind., to Decatur, 111., 153 miles. On April 1,1889, defaulted, and in
June, 1891, a decree of foreclosure was entered under the Ind. De
catur & Springfield first mortgage. An appeal to the General Term has
thrown the matter over until the fall. A reorganization plan was
o7ered Oct. 5,1890.
From July 1,1890, to May 31,1891 (11 months), gross earnings were
$434,405, against $405,367 in 1889-90; net, $115,397, against $106,424. New York office, 2 Wall Street.—(V. 49; p. 22,114, 206, 341, 402,
580, 654, 718, 824; V. 51, p. 875; Y. 52, p. 204, 238, 390. 973.)
In d ia n ap olis Sc V in cen n es.—Owns from Indianapolis, Ind., to
Vincennes, Ind., 117 miles; branch, Bushrod to Dugger, 16 miles; total,
133 miles. The Pennsylvania Company owns a controlling interest in
the stock and operates the road, advancing the deficiency to pay inter
est on the bonds. The capital stock is $1,402,000; par, $50; due Penn
sylvania Company December 31, 1890, for advances, $2,284,083. In
1890 gross earnings, $459,606; net, $68,690; deficit under interest. &c.,
$160,848, against $155,436 in 1888. Annual interest, $203,120.
In tern ation a l Sc Great N orth ern .—Owns Longview, Texas, to
Laredo, Texas, 496 m iles; and Palestine, Texas, to Houston, Texas, 150
m iles; branches—Houston & Columbia, 50 miles; Phelps to Huntsville,
8 miles; Mineola to Troupe, 44 miles; leases—Round Rock to George
town, 10 miles; Henderson to Overton, 16 miles; Galveston Houston &
Henderson, Galveston to Houston, 50 m iles; total, 825 miles.
The International & Great Northern was foreclosed in 1879 and
acquired by Missouri Kansas & Texas in May, 1881, by an exchange
of two shares of Missouri Kansas & Texas stock for one of International
& Great Northern. In the reorganization of the Missouri Kansas &
Texas in 1890 this stock became the joint property of the Missouri Kan
sas & Texas and the Missouri Pacific, the control being vested in Mr. F.
P. Olcott, who holds 1,000 shares. (See V. 50, p. 313. Default was
made on 2d mortgage in March, 1889, and on the 1st mortgage in May,
1889. Receivers were appointed February 16,1889. Suits were insti
tuted under both mortgages, but withdrawn in October, 1890. (See V.
51, p. 493.) In June, 1891, a suit was brought to foreclose the second
mortgage. See V. 52, p. 939. Mr. J. A. Roosevelt, 33 Wall Street, New
York, is chairman of bondholders’ committee. In July, 1891, a com
mittee of which Mr. Adrian Iselin is chairman was appointedlto enforce
payment of interest on the first mortgage. See V. 53, p. 58. The re
ceivers are now T. R. Bonner and T. M. Campbell, Palestine- Texas.
The International & Great Northern guarantees $2,000,000 of Galves
t o n Houston & Henderson 1st mortgage 5 per cent bonds, of which
Missouri Kansas & Texas owns $400,000.
From January 1 to June 30,1891 (6 months), gross earnings on 825
miles were $1,691,066, against $1,735,789 in 1890.
For year ending September 30,1890, gross earnings on 825 miles
were $4,156,769; operating expenses, $3,494,054; taxes, $2,905; net,
$659,810, from which paid for new equipment, $589,181. In 1888-89,
ross $3,610,361; operating expenses, $2,809,655; taxes, $59,196; net,
741,510—(V. 49, p. 22, 300; V. 50, p. 275, 352, 391, 422, 703, 735,
$ 7 4 ; V. 51, p. 114, 416, 457. 493; V. 52, p. 939, 973; V. 53, p. 58.)
I o w a C entral.—(See Map.)—Owns from Albia, la., to Northwood,
la., 189 miles (12 miles of this, Manly Junction to Northwood, being
leased to Burlingnton Cedar Rapids & Northern); Oskaloosa to Iowa
Junction, 184 miles; Grinnell & Montezuma Branch, 14 miles; Story
■CityBranch, 36 miles; State Centre Branch, 28 miles; Belinond Branch,
22 miles; Newton Branch, 28 miles; other, 2 miles; total owned, 503
miles; leases tracks at Mississippi River, 3 miles; trackage, Iowa Junc
tion, 111., to Peoria, 111., 3 miles; Centreville Moravia & Albia, Relay to
Albia, 26 m iles; total, 535 miles, but only 523 operated.
The Central Iowa, October, 1884, defaulted in payment of interest,
a n d i n 1888, after foreclosure sale, was reorganized under present title
a c c o r d i n g to plan in C h k o n i c l e , V . 44, p. 653. Trustee of first mort
gage, Mercantile Trust Co. See abstract V. 49, p. 582. Common stock
authorized, $8,600,000; outstanding, $7,973,591; preferred authorized,
$5,600,000; outstanding, $5,505,912; par of both, $100.
The Keithsburg Bridge bonds were redeemable at 100 for the sinking
Tund, but in 1890 payments to the sinking fund were discontinued in
pursuance of an agreement with the Bridge Company. See V. 51, p. 715.
From July 1, ’90 to April. 30, ’91 (10 months) gross earnings on 497
miles were $1,491,934, against $1,363,209 in 1889-90; net, $477,890,
against $391,203.
Fiscal year ends June 30; report for 1889-90 was in V. 51, p. 343. In
com e 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
ithat time.
1888-89.
1889-90.
$1,588,963
Gross earnings..................................................... $1,387,303
N eteam ings!............: ...................... .......... . . . .
$225,577
$428,766
$444,641
Total net receipts..........................
$240,247
420,025
Interest, rentals, taxes, &c.......... ................
199,270
& J. N. Y., Mercantile Tr.Co.
«5 A. Boston, Am. L. &Tr. Co.
<fe J. Phila.. Fidelity Tr. Co.
& O. N.Y.,N.Y. L.E. & W.RR.
& J. IN. Y., Farm. L. & Tr. Co.
& J. I Phila., 233 So. 4th St.
dodo
& O.
& O. N. Y., Central Tr. Co.
New York City.
& N.
& J. Boston, Of., 50 State St.
& J.
& J.
& O. Boston, Merch. Nat. Bk.
& A. Boston, Of., 50 State St.
do
do
& A.
& D. Bost., Nat. Webster Bk.
do
do
& S.
do
do
& A.
Boston, Of., 50 State St.
& N. Boston, Nat. Union Bk.
& N. Bost., Nat. Webster Bk.
& O. Boston, Nat. Union Bk.
Boston.
do
Boston, Merch. Nat. Bk
Boston, Merch. Nat. Bk
do
do
N. Y., Central Tr. Co.
Boston, 2d Nat. Bank,
do
do
& D.
Jan. 1, 1914
Aug., 1898
July, 1927
Jan. Ir 1909
July 10,1907
July 1, 1907
Apr. 1, 1900
Apr. 1, 1990
Nov. 1, 1930
July 1, 1916
July 1, 1919
Jan., 1940
Oct. 1, 1925
Feb. 16,1891
Feb. 16,1891
June 1, 1908
Sept. 1, 1910
Aug. 1, 1922
Dec., 1895-96
May 1, 1894
May 1, 1928
Oct. 1, 1927
Oct. 1, 1929
Jan. 1, 1905
Mch. 1, 1927
Mch. 1, 1903
Aug. 1, 1905
Aug. 1, 1990
Jan. 1, 1907
June 1, 1920
Deland branch, 6 miles. Leases Atlantic Coast St Johns & Indian River,
Enterprise to Titusville, 40 miles; Florida Southern, Palatka, Fla., to
Gainesville, 50 miles (of which 38 miles 3-ft. gauge); Rochelle to Lees
burg, to Brookville, 106 miles; Bartow to Punta Gorda, 81 miles; Lees
burg to Astor, 50 miles; other branches, 23 miles; total, 310 miles; lines
to St. ^.ugustine, Palatka, Daytona, etc., 101 m iles; operates, 66 m iles;
total operated, 651 miles.
Opened March, 1886. The land grant was about 1,500,000 acres.
The first mortgage bonds "are subject to call at 110. Stock is $2,600,000. Company obtained control of the Florida Southern on January 1,
1889, and issued a collateral trust loan for $2,905,000 on that com
pany’s stock and bonds, this loan bearing 3 per cent interest till 1890,
4 per cent till 1894 and 4*2 per cent for the remaining 5 years. (See V.
47, p. 531.) Suit for foreclosure of Florida Southern’s underlying
mortgage was instituted in March, 1890. (See Y. 50, p. 422.)
From July 1,1890, to May 31, 1891, (11 months), gross earnings of
main line were $660,411, against $592,845 in 1889-90; net, $240,856,
against $127,075. In 1889 the gross earnings were $547,625; net,$144,209. In 1890 gross, $567,695; net, $145,974. New York office, 10
Wall Street. (V. 49, p. 2 3 5 ; V. 50, p. 422, 519.)
Jefferson.—Owns from Susquehanna Depot, Pa., to Carbondale,
Pa., 37 miles; branch, Hawley, Pa., to Honesdale, Pa., 8 miles; total,
45 miles. Leased in perpetuity to the New York Lake Erie & Western
for $140,000 per annum for main line and $15,900 for branch. Mort
gage of 1889 is guaranteed principal and interest by lessee. The Haw
ley branch 2ds, $96,000, due in 1889, were extended at 6 per cent.
Capital stock, $2,096,050; par, $50.
Jefferson M adison Sc In d ia n a p o lis.—See P ittsburg Cincin »
itati
Chicago & St . L ouis .
Joliet Sc Northern In d ia n a .—Owns from Joliet, 111., to Lake
Station, Ind., 45 miles. Operated as part of the Michigan Central main
line. Road opened in 1854 and leased to the Michigan Central. Stock
($300,000) carries dividends of 8 per cent per annum.
J u n ction (P h ilad elp h ia ).—Owns from Belmont, Pa., to Gray’s
Ferry, Pa., about 4 miles. It connects the Pennsylvania, the Philadel
phia & Reading and the Philadelphia Wilmington & Baltimore railroads,
coming into Philadelphia. Stock $250,000 (par $50), is all held by these
three companies, and pays dividends of from 20 to 50 per cent per
annum. Gross earningsin 1890, $234,211; net, $142,526.
K a n a w h a Sc M ich iga n .—(See Map Toledo <£ Ohio Central.)—Owns
Coming, O., to Malden, &c., W. Va., 134 miles (gauge 4 feet 9 inches);
leases 19 miles; total 153 miles, of which 11 miles owned is not
operated by this company. The Kanawha & Ohio (was sold in
foreclosure March 4,1890, and reorganized under present title. (See
C h r o n ic l e V. 50, pp. 451, 483.) In October, 1890, a large interest in
the company was acquired by parties interested in the Toledo & Ohio
Central, which company has guaranteed the bonds, principal and
interest. (See V. 52, p. 165, 351.) The mortgage of 1890 is for
$15,000 per mile of road now or hereafter constructed (an extension
to mouth of Gauley River, 32 miles, being projected); but until
extensions are built the issue on present mileage must not exceed
$10,000 per mile. Stock authorized, $10,000,000; outstanding,
$9,000,000; par, $100.
From July 1, 1890, to May 31,1891(11 months), gross earnings were
$320,693, against $277,787 in 1889-90; net, $82,845, against $61,381.
In year ending June 30, 1890, gross earnings were $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. 45 l j
483, 589; V. 51, p. 142, 457, 753; V. 52, p. 165, 351.)
K a n sas City A rkan sas Sc New O rleans.—Under contract to be
built from Beebe, Ark., to Monroe, La., 160 miles. On April 1,1891, 48
miles were graded ready for rails. Capital stock, $5,000,000. Mort
gage is for $3,200,000, trustees The Farmers’ Loan & Trust Co., New
York, Hon. Dan. W. Jones is President and C. G. Stoddart Vice-Presi
dent and Treasurer. Branch offices at 18 Broadway, New York, and
Bartholomew House, E. C., London.—(V. 48, p. 462; V. 49, p. 718.)
K a n sa s City B e lt.—From Argentine to Washington Park, 10 miles.
Mortgage is for $2,500,000. Stock authorized $2,500,000 (par $100);
outstanding $100,000; owned one-half by Atchison Topeka & Santa Fe
and three-tenths by Kansas City Fort Scott & Memphis and two-tenths by
Chicago Milwaukee & St. Paul. Double-tracked and used for a termi
nal road at Kansas City. In year ending June 30,1890, gross earnings
were $211,400; net, $116,935; interest, $112,772; surplus, $4,163.
K a n sa s City B ridge Sc ’T erm in al.—Organized to construct a
railroad and carriage bridge over the Missouri River at Kansas City,
The Wyandotte County Bridge & Terminal RR. Co., with capital of $2,000,000, was to build as an extension of this company's line 24 miles
of road and a bridge over the Missouri River and another across the
Kansas River. Road and bridge were entirely to encircle Kansas City,
S u r p l u s . . j . .............................
40,977
$24,616 connecting all lines of road. The Central Trust Co. is trustee of both
mortgages. Stock authorized $2,000,000 (par $100).
■President, Russell Sagé.
—(V. 50, p. 244, 313, 353, 377; V. 51, p. 3 4 3 , 345, 715.)
K a n sa s City Clinton & Springfield.—Owns from Cedar Junc
J ack son ville Southeastern.
) See Chicago P eo r ia tion, Kan., to Ash Grove, Mo., 164 miles, and branch to Pleasant Hil),
Mo., 10 miles; total, 174 miles, but only 163 miles operated. Built In
Jackson ville L ou isville & St. L o u is. 5 & St . L ouis .
Jackson ville T a m p a Sc K e y W e s t.—Line of road Jackson the interest of the Kansas City Fort Scott & Memphis RR., whipli com
ville, Fla., to Sanford, 126 miles ; Enterprise branch, 5 miles; pany guarantees the bonds. There are $58,000 Pleasant Hill & De
f
J*
ly
, 4*^1 I
RAILROAD STOCKS AND BONDS
67
68
INVESTORS*
SUPPLEMENT.
IV o i» L I I L
Subscribers w ill oonfer a great fa v or by g iv in g Im m ediate notlee o f an y error discovered In tbese T ables.
Bonds—Princi
INTERE8T?OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par [Outstanding
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent.
Payable
Value.
Road. Bonds
on first page of tables.
K an. City Suburban Belt—1st mort. for $1,000,000
Kansas City Watkins <&Qulf—1st mort., gold ...c*
Kan. 0. Wyand’e&N. W.—M.$19,900p.m.,g.,$&£.c*
Kan. City & Beatrice 1st mortgage, gold, guar.c
Equipment trusts, Series I. A & B ..........................
Kentucky Central—Covington & Lex. mort. extend.
Maysville & Lexington R R. mortgage..................
New mortgage, gold ($7,000,000)....................... c*
Kentucky Union—1st mort. for $3,000,000, gold.c*
K eokuk <t Des Moines—IstM., int. guar., C.R.L&P.c*
Keokuk & Western—Common stock........................
K ings Co. Kiev.—1st. M., g., ser.“ A” $550,000 p.m.c*
2d mortgage ($7,000,000) $550,000 per m ile...c*
Funded coupon scrip................................................
Fulton Elev.lstM.,Ser.A,$550,000 p.m.,g., guar.c*
Kingston <&Pembroke^-1st M.,gold,(reedem. at 105)
K noxville Cumberland Cap <6Louis—1st M., g---- c*
2d mortgage............................................................o*
Lackawanna & Southwestern—Mortgage..................
Lake Erie Alliance <6South.—lstM.for$l,250,000.c*
Inc. bonds, non-cum., g. (red. after 1897 at 106) o*
Lake Erie <£ Western—Com. stock, $20,000 per mile
Pref. stock, 6 per cent (not cum.) ($20,000 p. m)
1st mortgage, gold, ($10,000 per mile)...............c
Lake Shore & Michigan Southern—Stock........ ........
Guaranteed 10 per cent stock....................... . —
Detroit Monroe & Toledo 1st mortgage, guar...c
~24
134
35
80
49
220
94
162
148
6
6
3
113
70
70
110
60
60
722
722
722
95
88
258
864
864
62
(!)
$360,000
3,750,000
400,000
626,000
219,000
400,000
6,523,000
2,500,000
2,750,000
4,000,000
1,000
3,377,000
1,000
3,377,000
416,250
1,000
1,621,000
1,000
572,000
1,000
1,500,000
1,000
500,000
1,000
800,000
1,000
346,000
1,000
1,680,000
100 11,840,000
100 11,840,000
1,000
7,250,000
100 49,466,500
100
533,500
1,000
819,000
50Ó &c.
2,784,000
1,000
1,356,000
1,000 15,041,000
1,000 24,692,000
1,000
924,000
1£90
$ ..
1,000
1890
1,000
1888
500
1889
1887-9 1,000
1,000
1855
1,000
1876
1,000
1887
1,000
1888
1878 100 &c.
1885
1888
1890
1889
1882
1888
1889
1889
1887
1887
1887
1807
1868
1869
1870
1873
1876
Soto 7 per 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 & Memphis RR.
From Jan. 1 to June 30,1891 (6 months), gross earnings w ea»$146,273, against $203,918 in 1890. In 1890 gross earnings, $441,1S5 ; net,
$201.857. In 1889 gross, $281,056 ; net, $107,845.
K a n s a s City F o rt Scott Sc M em p h is.—Owns main line from
Kansas City, Mo., to Memphis, Tenn., 487 miles, with branches, 184
miles; total owned, 671 miles; leases—Current River Railroad, Willow
Springs, Mo., to Cairo, 81 miles; total operated, 752 miles. Company
formed in April, 1888, by consolidation of the Kansas City Fort Scott &
Gulf and Kansas City Springfield & Memphis railroads.
Under the consolidated mortgage of 1888 (trustee New England Trust
Company of Boston) sufficient bonds are reserved to provide for all
prior bonds when due. The Fort Scott Southeastern & Memphis, Rich
Hill and Short Creek & Joplin roads have a sinking fund with which
bonds are bought at 110, or, if not offered, are drawn at 105 (of the
amount given above as outstanding, $208,000 were on June 30,1890,
held alive in the sinking fund).
The Current River Railroad bonds are guaranteed ; they were issued
as per circular in V. 44, p. 246. The Kansas City & Memphis Railway
& Bridge bonds, also guaranteed, will be subject to sinking fund draw
ings after 1891. The Kansas Equipment bonds are guaranteed, and the
issue is redeemable as a whole at any time at 110 and interest, and is
entitled to an annual sinking fund of $12,000, for which the bonds
may be purchased but cannot be drawn. Company also guarantees
$534,000 Kansas City Belt and $3,192,000 Kansas City Clinton &
Springfield bonds—see those companies.
Dividends on common stock since 1881—In 1882, 2 per cent; in 1883,
3 ; in 1884, 5 *2 ; in 1885, 2 ^ ; in 1886, 4 ; in 1887, 4 ^ ; in 1888, 3 ^ ; in
1889, 3 ; in 1890, February 15, 2 ; August 15, 1*2 ; in 1891, Feb. 16,1.
Dividends on preferred since 1880—In 1881, 8*2 ; in 1882 and since,
at the rate of 8 per cent yearly.
From Julv 1, 1890, to May 31, 1891 (11 months), gross earnings
were $4,358,027, against $4,577,626 in 1889-90; net, $1,206,526, against
$1,452,698; surplus over charges, $226,458, against $498,602.
Fiscal year changed to end June 30. The report for 1889-90 was in
C h r o n i c l e , Y. 51, p. 607, showing the following ;
1888-89.
1889-90.
Gross earnings......................................................$4,545,567
$4,937,431
$1,550,786
Net earnings........ ...............................................$1,518,057
1,070,490
Charges, interest, traffic guarantee, etc.......... 994,537
Balance, after adding other income............ $606,578
Dividends paid............
516,924
$569,161
566,414
Balance................
sur.$89,654
def.$2,747
— (V. 50, p. 205, 483, 622, 904; V. 51, p. 171, 383, 6 0 7 ; V. 52, p. 279.)
K a n s a s City M em ph is Sc B irm in g h a m .—Owns from Memphis
to Birmingham, Ala., 253 miles, and branches to Aberdeen, Miss., and
Bessemer, Ala., 23 miles; completed in October, 1887. First mortgage
bonds are subject to call at 110 and interest. The New England Trust
Company is trustee under the mortgage; abstract, Y. 46, p. 575. The
Birmingham and Memphis Equipment bonds are both guaranteed by
this company, and are redeemable on 60 days’ notice at 110 and inter
est. The Kansas City Fort Scott & Memphis owns half the stock and
gives a traffic guarantee of 10 per cent of gross earnings derived from
business to and from this road, to be applied to interest. From Jan. 1
to June 30,1891 (6 months), gross earnings were $559,429, against
$586,244 in 1890. In 1889-90, gross earnings, $1,209,733; net, $424,965 ; net, adding traffic guaranty ($24,697), etc., $450,103; surplus over
charges, $49,761. Stock. $5,956,000 ; par, $100. (V. 50, p. 275 ; V. 52,
p. 39.)
K a n s a s City Sc Pacific.—Line of road, Paola to Stevens, 130
miles. Forms part of the Missouri Kansas & Texas main line to Kansas
City, having been leased to that company for 999 years from August 1.
1890. The lessee guarantees by endorsement the interest on the new 4
per cent bonds, and if prior to August 1,1895, 30 per cent, and there
after 33 per cent, of the gross earnings shall exceed the interest on the
bonds, taxes and corporate expenses, the amount of such excess (all
advances by Missouri Kansas & Texas having been settled) is to be paid
to the Kansas City & Paciflo. See V. 51, p. 457. Stock is $2,500,000,
o f which $1,725,000 is owned by M. K. & T. From Jan. 1 to April 30,
1891 (4 months), gross earnings on 131 miles were $102,647, against
$88,709 on 125 miles in 1890. (V. 51, p. 457, 494.)
K a n s a s City St. Joseph A jCouncll B lu ffs.—Owns from Kan
sas City to Council Bluffs, 197 miles, branches 58 miles, proprietary
lines (Nodaway Yal. and Tarkio Val. RRs.), 61 miles ; total operated, 316
miles. The capital stock of $5,262,600 was purchased by thè Chicago
Burlington &, Quincy in 1880, and the road is operated as part of that
system. In 1890 gross earnings were $1,863,021 ; net, $596,327;
surplus over fixed charges, $183,031 ; paid dividends, $161,577.
K a n s a s City Suburban B e lt.—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
for the railroads centering at Kansas City, and furnishes quick transit
from the manufacturing suburbs along the Blue Valley. E. L. Martin,
President, Kansas City Mo.
6
5 g. J. & J.
5 g. J. & J.
5
J. & J.
Various
5
J. & D.
7
J. & J.
4 g. J. & J.
5 g. J. & J.
A. & O.
5
1
5 g & 6 J. & J.
5
A. & O.
April 1
Ito 6
5 g. M. & S.
J. & J.
6
5 g. J. & D.
6 g. A. & O.
J. & J.
5
6 g. J. & J.
6 g.
1
5 g.
2ia
5
7
7
7
7
7
7
N. Y. Office, 2 Wall St.
In default.
In default.
N. Y , Office.
do
do
do
do
N. Y., J. Kennedy Tod.
N. Y., 13 William St.
N. Y., John Patón & Co.
N. Y., Am. Ex. Nat. Bk.
Interest funded till 1893
New York.
N. Y., Am. Ex. Nat. Bk.
N.Y., R. P. Flower & Co.
New York and London.
do
do
N. Y. Office, 48 Wall St.
None paid.
Q.—F. N. Y. Office, 10 Wall St.
J. & J. N. Y., Chase Nat. Bank.
F. & A. N.Y. .Grand Cent. Office.
do
do
F. & A.
A. & O.
A. & 0.
A. & O.
See rem. C o u p o n s are paid
by Treasurer at
J. & D.
G ra n d C e n tra l
F. & A.
1920
Jan. 1, 1 9 3 0
Jan. 1, 193$
July 1, 1939"
1891-1900
June, 1895
1906
July 1, 1987
July 1, 192$
Oct. 1, 192$Apr. 1, 1891
Jan. 1, 1925
Apr. 1. 193$
Apr. 1, 1 9 0 0
Mch. 1, 1929*
Jan. 1, 1912
June 1, 192$
Oct. 1, 1919
1929
Jan. 1, 1917
Jan. 1, 1917
Aug. 15,
Jan. 1,
Aug. 1,
Aug. 1,
Oct. 1,
Apr. 1,
Apr. 1,
July 1,
Dec. 1,
Aug. 1,
1891
1937
1891
1891
1892'
18981899
1900
190$
190$
K a n sa s City W a tk in s Sc G u lf.—Under contract from Labe
Charles, La., northerly to Alexandria, 100 m iles; to be completed in.
1891. Bonds issued at $15,000 per mile, but this may be increased to
$20,000 for future requirements.
K a n sa s City W y a n d o tte Sc N orth w estern .—Road from
Kansas City to Beatrice, Neb., 175 miles, of which Seneca to Axtell, 12
miles and Virginia to Beatrice, 14j miles are leased. Owns branches
to Leavenworth, etc., 20 miles. Leases Tonganoxie to Carbondale, 439
miles. Total operated, 239 miles.
In March, 1890, the Farmers’ Loan & Trust Company, trustee of the
first mortgage, instituted foreclosure proceedings, and Mr. Newman
Erb was appointed receiver. (See V. 50, p. 451.) On June 18,1891, a
decree of foreclosure was entered. Sale w ill take place in Dec., 1891.
See V. 52, p. 939. First mortgage bonds are being deposited with the
Central Trust Company of New York, under an agreement between the
London committee, dated April 22, 1891, and Frederic P. Olcott,
Henry Budge and Andrew Haes. In June, 1890, a large interest
in the road was purchased by Mr. Jay Gould. (See V. 50, p. 874.)
Stock issued, $2,773,000; par, $100. From March 24 to December
31.1890, under the receiver, gross earnings were $293,714; operating
expenses and taxes, $306,778 ; deficit, $13,064. In year ending June
30.1890, gross earnings were $479,931; net, $27,067. (V. 50, p. 451,
735, 874; V. 51, p. 51; V. 52, p. 831, 939.)
K e n tu c k y Central K a ilw a y .—Owns from Covington, Ky., to
Roundstone {less three miles leased), 148 miles; Paris to Lexington, 19
miles; Paris, Ky., to Maysville, Ky., 49 miles; total owned, 217 miles;
leases Richmond to Rowland (Louisville & Nashville), 34 miles; Roundstone to Livingston, 3 m iles; total operated, 254 miles.
The Kentucky Central RR. was sold in foreclosure April 23,1887, and
the present company organized with stock of $7,000,000 ($6,907,300
issued); par $100. In December, 1890, the Louisville & Nashville ac
quired the stock (See V. 51, p. 876; V. 52, p. 939), assuming control
Feb. 1,1891. See abstract of mortgage (Metropolitan Trust Co. of New
York, trustee), V. 45, p. 372. The Maysville Division is lease d for
$28,000'per year, but the stock is all owned.
From January 1 to Oct. 31, in 1890 (10 months), gross earnings were
$909,742, against $874.264 in 1889; net, $400,277, against $424,316,
In 1889, gross earnings were $1,063,815; net, $481,978 ; surplus over
charges, $99,201. In 1890 gross about $1,135,000. (V. 48, p. 4 8 9 ;
V. 50, p. 4 2 1 ; V. 51, p. 875, 939.)
K e n tu c k y U n io n .—Owns from Lexington, Ky., to Inverness,
Ky., about 94 miles; completed in June, 1890. Projected to Big
Stone Gap. In February, 1891, Mr. H. F. Kean, of New York, was
appointed receiver, and 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 subscribed
$300,000. The first mortgage is for $3,000,000, and covers road and
equipment. The bonds were guaranteed principal and interest by the
Kentucky Union ¡Land Co., which owns 550,000 acres of timber and*
mineral lands, and has a paid-up capital of $5,600,000, without mort
gage or debenture debt. There are also second mortgage bonds out
standing. (V. 50, p. 519, 770; V. 52, p. 203, 279, 427, 642.)
K e o k u k Sc Des M o in es.—Owns from Keokuk, la., to Des Moines,
la., 162 miles. Leased for 45 years from October 1,1878, to the Chicago
Rock Island & Paciflo Railroad, the lessee to pay 25 per cent of the
gross earnings, but guarantees the interest (not the principal) on the
present bonds. The stock is $1,524,600 8 per cent preferred and $2,640,400 common (par of both $100), a majority of which is held by the lessee.
K e o k u k Sc W e ste rn .—Owns Alexandria, Mo., to Van Wert, la.,
143 miles; operates Keokuk to Alexandria, 5 m iles; was formerly the
Missouri Iowa & Nebraska, part of the Wabash system sold in foreclos
ure August 19,1886, and reorganized under this title. Stock, $4,000,000; par, $10.0 A 6 per cent note for $240,000, secured by mortgage,
payable at will, is outstanding. Dividends: In 1888, 1 per ce n t; in
1891, April 1,1.
From Jan. 1 to May 31,1891, (5 months), gross earnings $155,696
against $139,584 in 1890; net, $63,738, against $43,774. In 1890 gross,'
earnings were $371,674; net earnings, $141,433.
In 1889 gross,
$356,157; net, $123,760. G. H. Candee, 52 William St., N. Y., Vice-Pres.
K in g s County E levated.—Owns road in operation through Ful
ton Street, Brooklyn, to former city line, 6-14 m iles; leases Fulton Ele
vated, in operation from former city limits to easterly line of Schenck
Avenue, 1% miles (total track 3 miles), and projected to Jamaica, 1 2-5miles additional. Stock authorized and outstanding, $3,250,000. In
terest on the second mortgage bonds for 1890,1891 and 1892 is funded:
into 10-year debenturescrip. This scrip reoeives 1 per cent interest till
April 1,1891, then 3 p. 0. till April 1,1892, then 5 per cent till April 1,
1893, and thereafter 6 per cent yearly. Of the 1st mort. bonds $200,0<X>
are 6s ; trustee is Mercantile Trust Company of New York. (See ab
stract of first mortgage in V. 49, p. 237.) The Fulton Elevated Railroad!
is leased for 99 years, and its bonds guaranteed, principal and interest.
For 9 months ending March 31, 1891, gross earnings were $592,152;
net, $168,591; surplus over charges, $25,474. In year ending June 30,
1890, gross earnings were $716,707; net earnings, $157,671; payments
(interest on debt, $170,850; other, $3,266), $174,116; deficit under
charges, $16,445. President, James Jourdan. (V. 48, p. 855; V. 49, p.
22, 237, 825; V. 51, p. 457; V. 52, p. 391.)
J uly , 1891.]
RAILROAD
STOCKS
AN D
BONDS,
6 9
Subscribers w i ll confer a great fa v o r b y g iv in g Im m ediate notice o f a n y error discovered In tbese T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAJLROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
F or explanation o f column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Value.
Road.
Bonds
on first page of tables.
L ake Shore <£ Michigan Southern—( Concluded.)—
Kalamazo & White Pigeon 1st mortgage, guar, .c
Bat. Cr. & Stur. 1st M., g.,p. & i. guar.(see M.Cen.)
.Sturgis Goshen & St. L. 1st mort., g., p. & i. guar.
Kal. Allegan & Gr. Rapids stock, 6 p. c. guar.......
1st mortgage, guaranteed...................................c
Jamestown & Franklin (leased) 1st mortgage___c
2d mort gage...........................................................0
Mahoning coal stock..................................................
Preferred stock, guaranteed 5 per cent.............
1st M., Youngs, to And., and branches, guar, .c
Leav. Top. & S. Tv.—lstM-.Ljguar.byAt.&^byUn.P.
Lehigh £ Hudson River—1st M.,g.,irit.red’c’dto5p.c.
2d mortgage...............................................................
Warwick Valley 1st & 2d Ms. ($240,000 2ds,1912)
Consolidated mortgage for $3,000,000, gold— c*
Lehigh & Lackawanna—1st mortgage..................... c
Lehigh Valley—Stock ($106,300 fs 10 p. 0. pref.)...
l s f mortgage, coupon and registered.....................
2d mortgage..............................................................r
Con. M.'"sterling, g.,s.f.2 p.c.y’rly, dr’n at par.c&r
do
coup, ana regis., $1,866,000 are 4 1as.c&r
do
annuity, $1,134,000 are 4*28...................
Leh. Val. of N. Y., 1st M. for $15,000,000g.gu.c*&r
Pennsylvania & N. Y.—1st M. end. by Leh. Val.c*
1st mortgage, endorsed by Lehigh Valley— c*
Gen. mort.,$10,000,000, guar.prm. &int.(end.)r
Easton & Amboy, 1st M.guar.Easton to P. Amboy
Delano Land Company bonds, endorsed...............
Litchfield Carroll.<&Western—1st M. ($10,000p.m.) c*
$400,000
* 37 1890 $1,000
5 g.
79,000
41 1889
3 g.
322,000
29 1889
3 g.
610,000
3
i ’0’0
58
5
1,000
840,000
58 1888
1,000
298,000
7
51 1863
500,000
7
1,000
51 1869
1,500,000 21a& 2 ex
42
50
42
661,850
50
2%
42 1884
1,000
5
1,500,000
1,000
46 1882
1,380,000
4 g.
41 1881
661,850
5
1,000
63 1887
1,000
5
208,180
22 ’79-’ 81 500 &c.
385,000
6
63 1890
1,000
575,000
5 g.
26 1877
100,000
7
1,000
50 40,441,310
111
1,000
5,000,000
6
i b i 1868
6,000,000
101 1870
1,000
7
1,000
2,185,000
6
285 1873
285 1873
1,000 10,507,000 4ki & 6
4,669,000 4*2 & 6
1,000
285 1873
9,500,000
1890
1,000
4*ag.
1,000
1,500,000
7
iÖ5 1866
1,500,000
1,000
7
105 1866
4&5
7,000,000
1,000
105 1888
6,000,000
5
1,000
60 1880
1,355,000
7
1872
1,000
1,000
516,000
52 1886
6 g.
K n o x v ille Cum berland Gap Sc Louisville.—
Knoxville, Tenn.,
•with tunnel at Cumberland Gap, to a connection with the Louisville &
.Nashville at Middlesboro, a distance of 70 miles. It forms with the
Marietta & North Georgia a direct line, opened in August, 1890, to At
lanta, Ga. The mortgage is for $1,500,000 on above mileage and pro
vides for the issue o f $500,000 additional at $15,000 per mile for exten
sions. The City of Knoxville subscribed to $225,000 stock. (Y. 48, p.
420; Y. 51, p. 345.) New York office, 59 Wall Street.
L a ck a w a n n a Sc Sou th w estern .—Lackawanna Junction, New
York, to Perkinsville, 41 miles; Homellsville t® Waylaud, 11 miles;
•Olean to Angelica, narrow gauge, 38 m iles; total, 90 miles. In April,
1889, the Lackawanna & Pittsburg Road was sold in foreclosure and
reorganized. Litigation in progress, and pending a decision of the
courts the only portion of the road in operation is that between
Homellsville and Wayland, which is operated as the Rochester Hornellsville & Lackawanna Railroad, with Mitchell S. Blair for receiver;
and that portion between Bolivar and Olean, which is called the Lacka
wanna & Pittsburg Railroad, of which George D. Chapman is receiver,
fitock, $2,800,000; par $100.—(Y. 48, p. 688.)
L a k e Erie A llian ce Sc Sou th ern .—Owns from Bergholz, O., to
Phalanx, O., 60 miles. Sold in foreclosure December, 1886, and reor
ganized, and again sold in foreclosure in January, 1891. It is proposed
to extend the road east and north to Fairport, on Lake Erie. Stock
is $2,000,000; par, $100. There are $150,000 Alliance & Lake Erie
bonds on road from Phalanx to Alliance, 21 miles. In July, 1891, the
Alliance & Northern RR. Company was incorporated, embracing that
portion of the Lake Erie Alliance & Southern Railway between Alli
ance and Phalanx, Ohio. V. 53, p. 58.
From January 1 to May 31, 1891 (5 months), gross earnings
were $29,286, against $25,759 in 1890; net, $4,321, against $3,698.
In 1890 gross $68,009; net, $11,764. In 1889 gross $63,144; net,
$12,463. L. M. Lawson, Treas., 102 Broadway, N. Y.—(V. 51, p. 680; V.
52, p. 164; V. 53, p. 58.)
L a k e Erie Sc W e ste rn K a il ro a d .—("¿fee M ap.)—Owns from San
dusky, O., to Peoria, 111., and branch to Minster, 428 miles, and from
Indianapolis to Michigan City, 161 m iles; also Fort Wayne to Connorsville and branch to Rushville, 133 miles; total, 722 miles. Com
pany formed in 1887 after foreclosure (on December 14, 1886,)
o f the Lake Erie & Western Railway. In March, 1887 purchased the
Indianapolis Peru & Chicago Road, 162 miles, and in June, 1890, ac
quired 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 Indianapolis & Northwestern from Munoie to a point on the
Indianapolis Division, to make a direct line from Sandusky to Indian
apolis. See V. 52, p. 497.
Abstract of mortgage (Central Trust Company and A. L. Mason, trus
tees), in V. 46, p. 45.
Dividends on preferred stock—In 1890, 4 per cent (1 per cent quar
terly) ; in 1891, Feb-. 16,1 p e r ce n t; May 1 5 ,1 ; Aug. 15,1.
Price of common stock since reorganization—In 1887,13®241a ; in
1 8 8 8 ,1212'®1918 ; in 1889,16®203s; in 1 8 9 0,10ks®197s; in 1891, to
July 17 inclusive, 12%® 1511.
Price of preferred—In 1887, 39% ® 61; in 1888, 4011® 55%; in 1889,
5 1 38® 6614; in 1890, 44®68; in 1891, to July 17 inclusive, 5434®611a.
From January 1 to May 31 (5 months), in 1891, gross earnings
o n 722 miles were $1,214,668, against $1,207,146 in 1890 on 722 miles;
net, $499,461, against $459,720.
The annual report for 1890 was in V. 52, p. 497. In the following the
figures for both years include the Fort Wayne Cincinnati & Louisville.
1889.
1890.
«Gross earnings....................................................... $2,839,278 $3,074,438
Net earnings......................
$1,116,249
$1,275,656
Deduct—
303,000
332,750
Interest on bonds.................................................
Taxes and rentals...............................................
139,320
146,503
Dividends............................ .............................. (1%) 118,400 (4%) 473,600
Surplus........................................................... $555,519
$322,803
Calvin S. Brice, New York, President.—(V. 49, p. 471, 690; Y. 50, p.
138, 3 9 0 , 483, 590, 834 ; Y. 52, p. 4 9 7 .)
L ake Shore Sc M ic h ig a n Sou th ern .—(See Map New York Oen
Irai <&Hudson R iver.)—Owns from Buffalo, N. Y., to Chicago, 111., 540
miles ; branches, 319 miles ; total owned, 859 miles. Proprietary lines
•(entire stock owned) Detroit & Chicago, 68 miles ; Detroit Montreal &
Toledo, 62 miles ; Kalamazoo & White Pigeon, 37 miles; Northern Cen
tral (Mich.), 61 miles; Sturgis Goshen & St. Louis &e., 36 m iles;
total, 263 miles. Leases Kalamazoo Allegan & Grand Rapids, 58 miles;
Jamestown & Franklin, 51 miles; Mahoning Coal RR., Youngstown to
Andover, O., and branches, 50 miles; Detroit Hillsboro & Southwestern,
65 miles; Fort Wayne & Jackson, 98 miles ; total, 322 miles. Total road
owned, leased and operated Jan. 1,1891,1,445 miles.
O r g a n i z a t i o n , &c.—This company was a consolidation of the Lake
Shore RR. and Michigan Southern & Northern Indiana RR., May 27,
1869, and the Buffalo & Erie RR., August 16, 1869. The Mahoning
•Coal RR. is leased in perpetuity àt 40 per cent of gross earnings, and
its preferred stock and bonds guaranteed. Lake Shore owns $865,900
o f its common and $399,500 of its preferred stock. The N. Y. Chic. &
.gt. Louis (Niokel Plate) road has been controlled by ownership of
& J.
Depot, New York,
& D.
ana registered interest by Union
& D.
Trust Company.
& O.
& J.
& J.
& D.
<fc A. N. Y., GPd Cent. Stat’n.
J. <fc J. N. Y., Union Trust Co.
do
do
J. & J.
Boston.
J. & J.
J. & J. N. Y., Nat, Excn. Bank.
do
do
J. <fc .1.
A. <fc O.
do
do
do
do
J. & J.
J. & D. Phila.,Fid.I.&S.Dep. Co.
Q . - J. Phila., 228 So. Third St.
D. Reg.atofflce; cp.Bk.N.A.
J.
M. & S. PhUa. Of., 228 So. 3d St.
do
do
J. & D.
J. & D. Reg. at office; cp.Bk.N.A.
J. <fc D. Phila., Of.,228 So. 3d St.
Philadelphia.
J. <fc J.
J. & D. Phila., Bk. N. America.
J. & D.
do
do
A. <fe O. Phila., Lehigh Val. RR.
M. & N. Phila., Of., 228 So. 3d St.
do
do
J. & J.
N. Y., Am. Ex. Bk.
J. & J.
J.
J.
J.
A.
J.
J.
J.
F.
Jan. 1, 1940
Deo. 1, 1989
Dec. 1, 1989
Apr. 1, 1891
July 1, 1938
Var. to J’ly,’97
June 1, 1894
Feb. 2 , 1891
July 1, 1891
July 1, 1934
July 1, 1912
July 1, 1911
July 1, 1917
1900 & 1912
July 1, 1920
Deo. 1, 1907
July 15,1891
June 1, 1898
Sept. 1, 1910
Deo. 1, 1897
Deo. 1, 1923
Irredeemable
July 1, 1940
June 1, 1896
June 1, 19b6
Apr. 1, 1939
1920
Jan. 1, 1892
Jan. 1, 1916
stock since 1882, Lake Shore now owning $6,240,000 of its common,
$6,275,000 of its 2d preferred and $2,503,000 of its 1st preferred stock.
The company owns also (besides the entire stock of the proprietary
lines) $2,675,696 Pittsburg & Lake Erie stock, $470,100 Cincinnati Wa
bash & Michigan stock ana $169,100 common and $774,400 preferred
Cleveland Lorain & Wheeling.
S t o c k s a n d B o n d s . —The stock has remained at $50,000,000 since
1871. The guaranteed stock o f $533,500 carries 10 per cent dividends.
Dividends on common stock since 1870. In 1871, 8; in 1872, 8; in
1873, 4; in 1874, 334; in 1875, 2; in 1876, 3^4; in 1877, 2; in 1878, 4; in
1879, 6*2; in 1880,1881,1882 and 1883, 8 per cent each year; in 1884,
7; in 1885 and 1886, nil; in 1887 and 1888, 4 per cent; in 1889, 5; in
1890, 5; in 1891, February 2, 2*2 and 1 ^ extra; August 1, 2*2.
Mahoning Coal common stock paid in 1889 4*2 per cent; in 1890, 5 ;
in February, 1891, 2*2, and 2 extra.
P r i c e o e S t o c k .— In 1880, 95®139%; in 1881,11258135%; in 1882,98
®1203s; in 1883, 92%®1147s; in 1884, 59i2®104%; in 1885, 5 0^ ® 897sr
in 1886, 76%®100%; in 188.7, 89®98%; in 1888, 851i ®10478; in 1889,
99 \'a>108 ^2 ; in 1890, 101®1143s; in 1891, to July 17 inclusive,
1053s ®11358,
Interest on the consolidated first mortgage is paid on coupon bonds
J. & J., on registered bonds Q.—J.
The first consolidated mortgage bonds are redeemed each year by
$250,000 contributed to the sinking fund. The above bonds of all
classes outstanding are given less the amounts held in the sinking
funds, which amounted to $5,000,000 December 31,1890.
O p e r a t i o n s , F i n a n c e s , & c . —The annual reports of this company are
models of clearness in all the statistical matter. The road is greatly de
pendent on through traffic, or traffic from competitive points, and its
business is injured by any cutting of rates.
Nothing has been charged to construction or equipment account since
1883, the outlays therefor in excess of renewals amounting in 1890 to
$1.680.000.
For the first six months of 1891 the official statement of earning <
(partly estimated) was as follows, in comparison with the same period
in 1889 and 1890.
1889.
1890.
1891.
$9,923,850
$9,502,000
Gross earnings.................. $8,829,696
Oper. expenses and taxes.
5,944,721
6,958,559
6,560,604
Per cent.......................
(67-33)
(70-12)
(69-04)
$2,941,396
1,680,000
Net earnings............... $2,884,975
Int., rent, and guar. div..
1,711,625
$2,965,291
1,686,926
Balance for stock.. . . . $1,173,350
Dividend payable Aug. 1 ... (2) 989,330
$1,278,365
$1,261,396
(2) 989,330 (212) 1,236,662
Surplus for half-year.
$184,020
$289,035
The annual report for 1890 was published in V. 52, p. 716.
$24,734
O P E R A T IO N S A N D F IS C A L RESU L TS.
1887.
1888.
1889.
1890.
Miles operated........
1,341
1,342
1,410
1,445
Total gross earnings $18,710,962 $18,029,627 $19,487,196 $20,865,760
Op. exp’s, incl. taxes
11,029,798 11,310,371 12,847,452 14,220,481
Net earnings....
P.o.of op.ex.to eartgs
$7,681,164 $6,719,256
58-95
62-73
$6,639,744 $6,645,279
65*93
68’15
IN CO M E ACCOU NT.
1887.
1888.
7?g/>M/nfs_
Net, incl. oth. ino’me
$7,811,163 $6,939,148
R O T t a l T p a i d ..
Interest on debt......
Divid’s on guar. s’k.
$449,313
$517,418
3,276,140
3,257,515
53,350
53,350
1889.
1890.
$7,022,285 $7,144,037
$507,645
3,245,015
53,350
$564,419
3,225,723
53,350
Total disb’ sem’ts $3,778,803 $3,828,283 $3,806,010 $3,843,492
Surplus for dividend 4,032,360 3,110,865
3,216,275
3,300,545
Dividends..................(4)1,978,660 (5)2,473,325 (5)2,473,325 (6)2,967,990
Balance................. .sr.$2,053,700 sr.*$637,540 sr.$742,950 sr.$332,555
—(V. 50, p. 314, 6 5 9 , 703, 736, 904; Y. 51, p. 240, 747, 909; V. 52, p.
280, 321, 7 1 6 , 761, 796, 973.)
L e a v e n w o r t h T o p e k a Sc S. W . —Owns from Leavenworth to
Meriden Junction, in Kansas, 47 miles. Operated as part of the St.
Joseph & Grand Island Division of the Union Pacific, its stock ($1,380,000) being owned one-half each by Union Pacific and Atchison
Topeka & Santa Fe. Of the bonds $690,000 are guaranteed by Union
Pacific, the balance by Atchison. In 1890 gross $30,993; deficit from
operating, $53,035, (against $32,280 in 1889); deficit under charges,
$118,507, against $97,632 in 1889.
L e h ig h Sc H u d s o n K i v e r .—Owns from Greycourt, on Erie Road
to Belvidere, N. J., 63 miles. Proprietary line—Hudson Junction to
Maybrook, N. Y., on line to the Poughkeepsie Bridge, 11 m iles; track
age Pennsylvania RR., Belvidere to Phillipsburg, 14 m iles; other mile
age, 2 miles; total operated, 90 miles. In August, 1888, the Central
o f New Jersey purchased about one-third the company’s stock, and
INVESTORS’
SUPPLEMENT.
[V ol . L in .
J u l y , 1891]
RAILROAD
STOCKS
AN D
BONDS.
71
Subscribers w ill confer a great fa v or by g iv in g Im m ed iate notice o f a n y error discovered In tbese T a bles.
RAILROADS.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,^When Due,
Amount Rate per
For explanation of column headings, &c., see notes of
of
Par
When
Where
Payable,
and
by
Stocks—•‘Last
on first page of tables.
Road. Bonds Value. Outstandin.i
Cent. Payable
Whom.
Dividend.
Little Miami—Stk. com., gu. 8 p. c, 99 yrs.P.C.&St.L.
Street con. 1st & 2d Ms. (jtly. with Cin. & I. RR.). c
Renewal mortgage........... . ............ ...................... c
Convertible bonds for $3,000,000..........................
Little Bock. <&Memphis—First mortgage, gold........c
Little Schuylkill-^Stock.......... .......... ............. .........
Long Island—Stock...................................................
1st mortgage, main line........................................c
2d mortgage. . . ..... ................................................. c'
Consol. M. g. ($1,390,000 reserv’d for prior b’ds) c*
General mortgage for $3,000,000, gold..............c*
New York & Flushing 1st mortgage, assumed___
Brooklyn & Montauk 1st M., $250,000 are 6s...c*
Second mortgage, assumed (for $600,000), g.c*
Long Island City & Flushing 1st M,. assumed, .c*
Consol, mortgage, gold, assumed......................c*
New York & Rockaway 1st mort., guar. int. only.
Smithtown & Port Jeff. 1st M., guar. prin. & int.
Louisiana Western—1st mortgage, gold....................
Louisv. Evansv. <6 St. L. Consol.—1st mort. E.R.&E.
L. E.&St. L .lstM .,g.,(lstonl82m .,2don 72m .)c*
2d mortgage, gold, unassented......................... c*
Hunt. Tell. City & C. RR. 1st mort. gold, guar.c*
Illinois & St. Louis 1st m ortga ge.......................c*
Venice & Carondelet mortgage, guaranteed___ o*
Consolidated mortgage, gold ($8,000,000).........c*
Louisville <HNashville—Stock.....................................
Lebanon Br., junc. to Jellico, Louisville loa n .. .c*
Consol. 1st M. (prior liens are only $333,000). .c*
Memphis & Ohio 1st M., Paris to Mem., guar, .c*
Mem.Clarks.&L.lstM.,£,Guthrie to Paris,Tenn.c*
52
2 1864-8
84 1882
135
28
1887
*94
158
180
180
2
76
76
23
23
386
1868
1878
1881
1888
1880
1881
1888
1881
1887
1871
1871
1881
1881
1886
1886
1887
1875
1880-2
1889
Ï7 Ï
419
130
83
1863
1868
1871
1872
Ï9
112
72
182
182
24
20
$50
1,000
1,000
1,000
50
50
500
100 &c
1,000
1,000
1,000
1,000
1 ,0 0 0 , 0 0 0
1,000
600.000
1,000
600,000
1,000
650.000
500
250.000
500
600.000
1,000
2.240.000
1,000
900.000
1,000
2,000,000
1,000
670.000
1,000
300.000
500
200.000
1,000
300.000
1,000
3.795.000
100 48,000,000
1,000
333.000
1,000
6.806.000
£200
3,500,000
£200
2,015,660
this, with the stock held by the Lehigh Coal & Navigation Co., controls
the road. In addition to above bonds there are $65,000 Wawayanda
■
6 s, due 1900, and $53,430 6 per cent car trusts. Stock, $1,340,000;
Par, $1°°. The general mortgage for $3,000,000, (trustee, Centrai
_^®?JPany,0^
York), covers the stock of the proprietary line,
and $1,750,000 bonds are reserved for prior bonds when due.
oUiy h.
-M-aySl, 1891 (11 months), gross earnings were
<ioo1,6/e2’
^2,8r,6.’ 538 m 1889-90 ; net, $129,696, against $118,3J22i (See V. 51, p. 494.)
’
L e 5 I|h V a lle y .— See Map) —Main line, Perth Amboy, N. J., to Gen« ™ ,N . Y., ¡MOmdes ; branches to Audenried, Tomhicken, Hazleton,
Ac., 480 miles; Southern Central RR., 114 miles ; State Line & Sullivan
1
-i1111 AAv tal system, including branches and their sidings,
1,059 miles. Other sidings, 491 miles; second track, 305 miles. Total
track Jan. 1,1891,1,855 miles. Trackage: Pennsylvania RR., 501miles;
New York Central, 15 miles; Erie, 188 miles; Central of New Jersev,
I,1 2 °, ,• Company expects to have a through line from New York to
Buffalo by July 1,1892. (See V. 50, p. 834.)
The consolidated mortgage of 1873 (trustee, Fidelity Insurance, Trust
& S. D. Company of Phil.) is for $40,000,000, of which $12,000,000 are
reserved to retire $11,000,000 prior liens when due. The bonds are
issued in three series, of which the sterling issue, “ class A,” is subiect to
«a n at par m increasing amounts each year, $269,000 being the amount
payable m 1891. A second series is composed of the “ coupon and reg1 o eï
bonds>whl°h are not subject to call, but which prior to Nov.
13,1893, may be converted at option of holders into bonds of the third
series, these last being annuity bonds and irredeemable, never falling
nao ex$ePt in case of default; All these issues are equally secured.
The Lehigh Valley Railway Company of New York owns a road
whioh when completed will extend from Buffalo, N. Y., to Savre, Penn
283 miles double track. Of this, 131 miles are in operation, and thé
balance under construction. The company’s stock is all owned by the
Lehigh Valley RR., which guarantees principal and interest of the 4*2
per cent bondsof 1890, this guaranty being endorsed on the bonds.
Trustee of mortgage, Girard Life Insurance Company, Philadelphia.
<8ee mortgage abstract V. 51, p. 114.)
"
The Pennsylvania & New York Canal & Railway is leased for 99 years
from December 1,1888, to Lehigh Valley, which has assumed its debt
and owns all its stock. Under its general mortgage of 1889 (trustee
Girard Life Insurance Company) sufficient bonds are reserved to take
up prior bonds when due. Lehigh Valley also guarantees interest on
certain securities of the Morris Canal. (See that company under mis
cellaneous.) There is an important contract for supplying the citv of
Newark with water. (See report V. 50, p. 137.)
^ J »
*
. Dividends on common stock since 1880—In 1881, 5^ ; in 1882, 6*2 :
in 1883 and 1884, 8 ; in 1885, 6 ; in 1886, 4 ; in 1887, 4*2 ; from 1888
to July, 1891, both inclusive, at rate of 5 per cent yearly.
Prlce of common stock in Philadelphia—in 1880, 46®57% ; in 1881.
5 7 12@ 6414 ; m 1882, 58!4®67%; in 1883, 63®731i; in 1884, 57®71'7S£ 1 8 8 5 , 5 4 ^ 6 1 * ; in 1886, 5 5 ^ 6 2 ; m 1887, 5378@ 57^ ; in 1888,
51i2@5778 ; in 1889, 52®55 ; in 1890, 47Lj®54i8; in 1891, to July 17
inclusive, 45 78® 51.
The fiscal year ends November 30. The last annual report was in the
C h ronicle , V. 52, p. 162.
INCOME ACCOUNT.
„
. ,
* .
1888-89.
Gross receipts............................................... $16,649,056
Operating expenses............................. ......... 11.393.475
$4,943,100
525.000
1.500.000
None
3.250.000
2,487,850
12,000,000
1.121.000
268,703
3.610.000
2.500.000
125.000
1889-90.
$17,432,007
11,951,771
2
Q .-M . Cinn.,Office, IstNat.Bk.
6
Various
do
do
5
M. & N. N. Y., Bank of America.
7
5 g. M. & S. N. Y., Central Trust Co.
J. & J. Phila., Of., 410 Walnut
Q .-F . N. Y., Corbin Bank’g Co
1^
M. & N.
7
do
do
7
F. & A.
do
do
do
do
Q .-J .
Ì g‘ J. & D
do
do
l g- M. & S
do
do
5 & 6 g. M. & S,
do
do
do
do
5 g. J. & D
M. & N.
6
do
do
M. & N.
do
do
f * A. & O. N. Y., Corbin Bank’gCo.
M. & S.
7
do
do
J. & J. N. Y., S. Pac.Co., 23 B’rd
& J. N. Y., Security & Tr. Co.
do
do
& O.
2 to6 6gg A. & O.
do
do
A. & O.
do
do
I®' J. & D.
dodo
6
Various
do
do
5 g. J. & J.
do
do
2*3 F. & A. N. Y., 23 Nassau St.
6
A. & O.
do
do
7
A. & O.
do
do
7 g. J. & D. London and New York,
do
do
6 g. F. & A.
June 15,1891
1894-1898
Nov. 2, 1912
Sept. 1, 1937
July 6, 1891
Aug. 1, 1891
May 1, 1898
Aug. 1, 1918
July 1, 1931
June 1, 1938
Mch. 1, 1920
Mch. 1, 1911
June 1, 1938
May 1, 1911
May 1, 1937
Apr. 1, 1901
Sept. 1, 1901
July 1, 1921
July 1, 1921
Oct. 1, 1926
Oct. 1, 1936
Oct. 1, 1927
June 1, 1895
1900-1902
July 1, 1939
Aug. 1, 1891
Oct. 15,1893
Apr. 1, 1898
June 1, 1901
Aug. 1, 1902
payment for betterments), and also $3,000,000 stock, into which the
bond, shall be convertible. Negotiations with lessee are still pending,
and no convertible bonds had been issued prior to March 15,1891.
—(V. 49, p. 300, 434, 580, 789; V. 50, p. 7 1 ,17 4 ; V. 51, p. 51.
L ittle R o c k & M e m p h is.—Owns from Little Rock, Ark., to Missis
sippi River, opposite Memphis, 135 miles. The Memphis & Little Rock
Road was sold in foreclosure in 1872, again in 1877 and again in 1887.
Stock, $3,250,000; par, $100. From January 1 to July 7,1891, gross
earnings ^were $324,343, against $258,532. From Jan. 1 to Nov. 30
(11 months) in 1890 gross earnings were $531,521, against $541,845 m 1889; net, $119,542, against $160,490. Rudolph Fink, Presi
dent, Memphis, Tenn.
L ittle Sch u ylkill.—Owns from Port Clinton to Tamanend, 28
miles. Leased to the Philadephia & Reading Railroad for 93 years from
Juiy
1868. Extra dividend of 1 ^ per cent was paid July 7,1888.
and of 1 per cent January 11,1890.
Isla n d .—Owns from Long Island City, N. Y., to Greenport,
"• J.» 94im les; Long Island City to Great Neck, 14 miles; Bush wick
to Sag Harbor, 98 miles; branches, 81 miles; total owned, 287 miles.
Leases Smithtown & Port Jefferson RR,, 19 miles; Stewart’s RR. to
Bethpage, 14 m iles; Stewart’s RR. to Hempstead, 2 m iles; New York
& Rockaway RR., 4 miles (and 5 miles unoperated)¡Brooklyn & Jamaica
RR. 10 miles; New York Brooklyn & Manhattan Beach Railway and
branches, 20 miles; total leased, 69 miles. Total of all, 356 miles.
The control of the company was sold to the “ Long Island Company,”
controlled by Mr. Austin Corbin and others, in December, 1880. (See
In July, 1881, the stock was increased from
$3,260,700 to $10,000,000, and in 1889 to $12,000,000 in order to ab
sorb the Brooklyn & Montauk.
In July, 1891, a contract was signed for regular train-service be
tween Brooklyn and Long Island City and Boston,trains to be taken by
transfer steamers across the Sound and, via the Housatonio RR. to
Hawleyville, Conn., and thence via the N. Y. & N. E. to Boston. See
V. 53, p. 95.
, rSS.® Central Trust Company is trustee of the general mortgage of
1888. There are also $236,000 real estate mortgage 5s to 7s.
Dividends since 1881—In 1882, 1; from 1883 to May, 1891, both
inclusive, at the rate of 4 per cent per annum; Aug. 1,1891, l i t p. c.
Pnce of Stock—In 1883, 58®86%; in 1884, 62®78J4; in 1885, 62®
8078j in 1886, 80® 100; in 1887, 85®99%; in 1888, 8712®95; in 1889,
89*2®96i2; in 1890, 82®95; in 1891, to July 17, inclusive, 86®99J4.
Fiscal year ends now June 30; the 1889-90 report was in V. 51, p.
536. In the following statement the figures for 1889-90 and 1890-91 are
for year ending June 30, all others for year ending September 30. The
statement for 1890-91 is partly estimated.
INCOME ACCOUNT.
1887-88. 1888-89. 1889-90.
1890-91.
$
$
$
$
Gross earnings.................... 3,403,296 3,477,989 3,685,769 4,061,204
Netearnings................ ....1 ,2 7 7 ,0 4 7 1,305,637 1,392,036 1,527,486
Deduct—
Interest, less int. received. 151,758
341,628
464,567)
Rentals and taxes.............. 481,475
359,542 283,042 5 797,765
Miscellaneous ....................
63,067
.................................
Dividends....................
400,000
440,000
480^00041i510j000
Total disbursements... 1,096,300 1,141,170 1,227,609 1,307,765
180,747
164,468
164,427
219,721
$5,480,235 Surplus...............................
—(V',50; p. 314, 707, 834; V. 51, p. 416, 5 3 6 , 715, 753; V. 52, p. 280,
|
.
$2,651,120 571, 608, 707, 718, 832 ; V. 53, p. 95.)
694,258
L ou isian a W e ste rn .—(tfee Jfap o f Southern Pacific.)—Owns from
2,027,370
Lafayette, La., to_Orange, Texas, 112 miles. Operated under lease by
Total disbursements............................... $5,132,541
$5,372,748 the Southern Pacific Company, being part o f the through line between
eYx.-^rleans and Houston. The lessee pays all charges and turns over
Balance, surplus............................................
$123,040
$107,487 * 1
- ( V - J f t P-52, 373, 539; V. 50, p. 1 3 7, 423, 706, 9 04; V. 51, p. 20, 51, i? W 8 company 7 per cent of the total net profits of the Southern
Pacific Company, under the omnibus lease.
114, 614, 680; V. 52, p. 1 6 2 , 463, 761, 974.)
,ÎX0I,rî. Jnnuary 1 to May 31, 1890 (5 months), gross earnings were
L it c h fie ld C a r r o llt o n de W e s t e r n .—Owns from Barnett to Co,
lumbiana, 111., 52 miles. Operated in close connection with the Chicago ? 3 vL’i 3 6> agalnst $450,779 in 1890; net, $118,197, against $239,357.
In 1890, gross, $1,160,331 ; net, $586,094 ; surplus over charges, $434,Peoria & St. Louis—which see. Stock, $600,000.
L it t le M ia m i.—Owns from Cincinnati, O., to Springfield, O., 84 558 ; amount of net profit due this company as per lease, $172,199. In
$1,101,569 ; net, $486,981. Stock is $3,360,000 (par $100),
m iles; branch, Xenia, O., to Dayton, O., 16 miles; leases, Columbus &
xen ia R R ,, Xenia, O., to Columbus, Ohio, 55 m iles; Dayton & Western all but $50,000 of which is owned by Southern Pacific Co.
KK., Dayton, O., to Indiana State Line, 38 m iles; Ohio State Line to
o u isv ille E v an sv ille & St. L o u is C onsolidated.—(See Map
Richmond, Ind., 4 miles; Cincinnati Street Connecting RR., 2 miles; o fLEvansville
(Ê Terre Haute R ailroad.)—Operates from Louisville, Ky.,
total operated, 198 miles.
to East St. Louis, 111., 274 miles, with branches to Evansville, Rock-fJ?Q<Peceml)er *’ 1869, leased to the Pittsburg Cincinnati & St. Louis port, Cannelton, etc., in Indiana, 93 miles ; total, 367 miles. Also owns
J? „
renewable forever. The Pennsylvania Railroad Company Venice & Carondelet Railway, leased to East St. Louis Connecting Railis a party to the contract and guarantees its faithful execution. Road way, 6 miles. Of the main line the following portions are operated
b7 .^ ts b u r g Cincinnati Chicago & St. Louis Railway under trackage rights : Louisville to New Albany, 6 miles ; Walnut Hill
Hental is 8 per cent on $4,943,100 and interest on debt. to
Centraha, 7 ^ miles. The line from Belleville to Centralia, 111., was
Jj0nds there is $100,000 6 per cent permanent completed m June, 1890.
dei }i ’ interest January and July. Lessee’s report for this
This company is a consolidation made in 1889 of the Louisville
1
to,1o S ee: !n 1886, $468,680; in 1887, $298,405;
& St. Louis and several other companies. It belongs to the
in 1888, $421,355; in 1890, earnings, $2,081,322; net, including income Evansville
Mackey” system. See application to New York Stock Exchange in
«3 8 5 873in?8e898’ T h ^ T i ? sV ° lessee’ $384,451f against full in Chronicle, V. 50, p. 876.
t™
1 lonn Tji e i^ tle Miami Co. does not admit these losses.
Under the consolidated mortgage (New York Security & Trust Com
I*1¿ anuary’ I f 9?» stockholders voted to authorize the issue of $3,000,- pany and Josephus Collett, trustees), $3,700,000 bonds are reserved to
OOO 7 per cent bonds (to be issued to the lessee from time to time in retire
at maturity the several issues of prior first mortgage bonds, and
Total net income..................................... $5,255,581
Disbursements—
interest on debt............................................ $2,168,571
General expenses, including ta x e s ............
945,768
Dividends.........................
2,018,202
^INVESTORS’
SUPPLEMENT.
[Vou Lin,
JüL Yj
1891.]
KAtLROAD
STOCKS AN D
BOOT) i.
73
74
INVESTORS’
SUPPLEMENT.
[V o l . U H
Subscribers w ill confer a great fa v or by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable , and by
Par
of
For explanation of column headings, &c., see notes of
Outstanding
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Louisville <6Nashville—( Continued.)—
46
Cecilian Br .IstM. .Cecil.to Louis.,s.f.,dr’n at 100.c*
E. H. & N. IstM., Henderson to Nash.,dr’n at 110. c* 135
Louis. & Nash, general M., gold, drawn at 110.c* 802
10-40 Adjustment M.,g. (red’mableaft. 1894).c* 785
L. C. &Lex. 1st M.,s.f. (not dr’n) Louis, to Newp’t.c*. 175
2d mortgage, sinking fund, not drawn............c* 175
Lou. & Nash.bonds, S.&N. Ala. RR., 2dm. as col.c* 189
45
Pensacola Division 1st m., g. (drawn at 105).. c*
N. O. & Mobile Div. 1st M., N. O. to Mobile, gc* 141
1Ï
1
2d M., N. O. to Mobile, g ............................. - -C*
208
Southeast & St. L. Div. 1st Mort., g ................. c*
208
2dM., g., East St. L. to Evansville & br___c*
175
Gen. mort. L. C. & L., g o ld ...............................o’
1st M. (50-year 5s), g., $15,000 p.m................ c* 118
1st mortgage, collat. trust ($7,000,000), gold.c*
Unified mortgage for $75,000,000, gold— c*&r 1,079
Henderson Br. Co. IstM ., g., drawn at 105. ..c’
Louisville New Albany & Chicago—Stock..................
1st M. Lou. Div.—New Albany to Mich. C ity.. .e’ 288
1st M., gold, Chic. & Ind’polis Div.,Chic, to Ind.c* 158
Consolidated mortgage gold (for $10,000,000) .o’ 512
512
General mortgage, gold, $25,000 p. m ................c’
Louisv. N. O. <GTex.—1st M., g., for $16,900,000.. .< 797
2d mort. income bonds, cum. (payable at 105) .c’ 797
797
Income bonds (not cumulative)................ ........ sj
Louisville St. Louis <&Texas—1st M.,g.,$2,800,000.c’ 121
1212d m ortgage............................................................
42
Louisville Hardinsburg & Western 1st mortgage
$825,000
1877 $1,000
1,000
2,240,000
1879
1,000 11,563,000
1880
1,000
4,531,000
1884
1,000
2,850,000
1867
892,000
1877 100 &c.
1,000
1,960,000
1880
1,000
580,000
1880
1,000
5,000,000
1880
1,000
1,000,000
1880
1,000
3,500,000
1881
1,000
3,000,000
1881
1,000
50,000
1881
1,000
1,764.000
1887
1,000
5.032,000
1888
1890 l.OOO&c 8,231,000
1,000
1,866,000
1881
100
6,400,000
1,000
3,000,000
1880
1,000
2,300,000
1881
1,000
1886
4,700,000
1,000
1890
2,800,000
1,000 16,132,000
1886
1,000
1886
8,851,000
1,000 10,000,000
1886
1,000
1887
2,440,000
1,000
250,000
1887
1,000
1889
630,000
$500,000 to retire at 75 the $670,000 unassented second mortgage
bonds. (See abstract of consolidated mortgage in Y. 49, p. 208.) The
second mortgage bonds were to bear 2 per cent interest m 1888 and
1889, 3 per cent in 1890, 4 per cent in 1891, 5 per cent in 1892 and 6
per cent thereafter. Common stock, $3,790,747; preferred, $1,300,000,
5 per cent, non-cumulative; par, $100.
From July 1,1890, to June 30, 1891 (12 months), gross earnings on
386 miles were $1,484.582, against $1,162,955 on 321 miles in 1889-90.
Fiscal year ends June 30. Report for 1889-90 was in V. 51, p. 679.
In 1889-90 gross earnings were $1,169,412; net, $416,318; surplus,
(Including other income, $34,635) over interest and rentals, $103,611.
In 1889-89 gross, $1,127,039; net, $330,591. (Y. 50, p. 107, 834, 874,
876; V. 51, p. 679.)
. L o u i s v i l l e & N a s h v i l l e .— (See M a p . ) — L i n e o f R o a d .— Main line
—Cincinnati, O., to New Orleans, La., 921 miles; St. Louis to Junction
near Nashville, 308; Memphis to Memphis Junction, 259 (to Cincinnati,
487); branches, 728; total mileage on which earnings were based June
30,1890, 2,216 miles.
'
„^
(Of the above mileage 1,885 miles are owned absolutely and through
stock, while the Nashville & Decatur RR. (Nashville to Decatur, 119
miles; other lines, 24 miles; total, 142 miles), is leased, and the South
6 North Alabama RR. (Decatur to Montgomery, 183 miles, and branch,
6 miles), is operated for account of that company).
Also operates under lease for account of various companies 88
miles; and owns the Richmond Branch (leased to Kentucky Central) 34
miles, and the Cecilian Branch (leased to Chesapeake Ohio &
Southwestern), 46 miles. Controls, by ownership of a majority of
stock, the Nashville Chattanooga & St. Louis RR., 652 miles; the
Owensboro & Nashville, 89 miles; the Pensacola & Atlantic, 160 m iles;
the Nashville Florence & Sheffield RR., 91 miles; and Henderson
Bridge and connecting track, 10 miles—total, 1,170 miles; also, as joint
lessees with the Central of Georgia, is interested in the Georgia RR. and
its auxiliaries, 721 miles. Grand total of roads owned leased and con
trolled by ownership of stock June 30,1890, was 4,107 miles.
A line connecting with the Clinch Valley Division of Norfolk & West
ern was completed in June, 1891. In June, 1890, the Nashville
Chattanooga & St. Louis leased the Western & Atlantic (Atlanta to Chat
tanooga, 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 and V. 51, p. 876 and V. 52, p. 939.
O r g a n i z a t i o n , L e a s e s , &c.—The Louisville & Nashville was char
tered March 2,1850, and opened between Louisville and Nashville
November, 1859. The liabilities for interest on the auxiliary roads are
treated mostly as belonging directly to the Louisville & Nashville Co.
The fiscal year ends June 30. Annual election is held early in October.
S t o c k a n d B o n d s . —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 $700,000.
In July, 1891, it was voted to increase 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 offered to
stockholders of July 21 at 70. See V. 52, p. 863 and V. 53, p. 21, 58.
Dividends since 1880.—In 1880, 8, and 100 per cent in stock; in
1 8 8 1,6 ; in 1882, 3 ; in 1888 and 1889, 5 in stock; in 1890, February
6, 3 in stock; August 4, 3 per cent, of which l% o in stock; in 1891, Feb
ruary 5, 2*2 in cash; Aug. 1, 2%.
Price of stock—In 1880, 77® 174; in 1881, 79®210%; in 1882,4612®
100%; in 1883, 4058® 5812 ; in 1884, 2212®513s ; in 1885, 22®51%; in
1886, 335s®69; in 1887, 54ig®70%; in 1888, 50!%®64%; in 1889, 56%
®87%; in 1890, 6512® 9212 ; in 1891, to July 17 inclusive, 695^82% .
The 10-40 adjustment mortgage of 1884 (trustee, Central Trust Co.)
besides 783 miles of road covers $28,162,700 of stocks and bonds. See
V. 39, p. 409, and V. 51, p. 463.
The Evansville Henderson & Nashville bonds are drawn at 110 by lot
annually, in September; $30,000 a year till 1895, then increasing each
five years until $150,000 per year is finally reached.
The Pensacola Division bonds are subject to a drawing sinking fund
$5,000 till 1900, inclusive, then $10,000, and so increasing.
In June, 1890, the “ unified” mortgage (trustee, Central Trust Com
pany) for $75,000,000 was authorized, $41,917,660 bonds being re
served to retire all prior liens (none of the prior liens can be extended),
the balance for improvements, extensions (at the rate of $32,000 per
mile, including equipment), and for other purposes. The mortgage cov
ers (besides 1,080 miles of road and its equipment) $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
lien. See abstract of mortgage in V. 51. p. 613.
O p e r a t i o n s , F i n a n c e s , &c.—The Louisville & Nashville system nas
been developed in its present extensive form since 1879; the 100 per
cent stock dividend was declared in 1880 and a few dividends after
wards in cash, but from 1882 to 1888 nothing was paid. From Febru
ary, 1888, to 1890 stock dividends were paid to represent surplus earn
ings. The August, 1890, dividend was paid partly in cash. See divi
dends in preceding column.
From July 1,1890, to May, 31, 1891 (11 months), gross earnings
were $17,710,262, against $17,360,730 in 1889-90; net, $6,499,908,
7
6
6
6
7
7
6
6
6
6
6
3
6
5
5
4
6
6
6
6
5
4
5
6
6
6
6
M. & S.
g. J. & D.
g. J. & D.
g. M. & N.
J. & ,T.
A. & O.
g- A. & O.
g. M. & 8.
g. J. & J.
g. J. & J.
g- M. & S.
g. M. & 8.
g. M. & N.
g. M. & N.
g- M. & N.
g* J. & J.
g. M. & S.
J.
F.
A.
M.
M.
M.
M.
g. F.
M.
J.
gg.
g.
g-
&
&
&
&
&
&
&
&
&
&
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
J. N. Y., Chase Nat. Bank.
do
do
A.
do
do
o.
do
do
N.
8. N. Y.. R. T. Wilson & Co.
S. N. Y., when earned.
do
do
S.
A. N. Y., Central Trust Co.
S. N. Y., Company’s office.
do
do
J.
Stocks—Last
Dividend.
Mch.
Dec.
June
Nov.
Jan.
Oct.
Apr.
Mch.
Jan.
Jan.
Mch.
Mch.
Nov.
May
Nov.
July
Sept.
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1907
1919
1930
1924
1897
1907
1910
1920
1930
1930
1921
1980
1931
1937
1931
1940
1931
July 1, 1910
Aug. 1, 1911
Apr. 1, 1916
May 1, 1940
Sept. 1, 1934
Sept. 1, 1934
Sept. 1, 1934
Feb. 1, 1917
March, 1917
Jan. 1, 1919
against $6,870,843; mileage, 2,272, against 2,189 miles.
Fiscal year ends June 30. In the following the figures for 1890-91
are partly estimated. For 1889-90 the report was m V . 51, p. 439,
455, 459.
E A R N IN G S, E X P E N S E S , ETC.
1890-91.
1889-90.
1888-89.
1887-88.
2,344
2,216
2,181
2,119
$
$
$
$
19,205,262
18,846,004
16,360,241
16,599,396
Gross earnings........
Oper. exp. (excl. taxes). LO,267,535 10,326,085 11,419,092 12,205,355
Mileage June 30............
Net earnings............ 6,092,706
62-76
Per ct. of exp. to eami’gs
6,273,311
62-21
7,426,912
60-59
6,999,907
63-54
INCOME ACCOUNT.
1889-90.
1890-91.
1888-9.
1887-8.
Receipts—
$
$
$
$
Net eam’gs incl. invs’ts. 6,621,534 6,950,420 8,065,598 7,691,286
Disbursements—
410,745
397.721
401,112
375,557
Taxes...............................
Interest on debt, &c___ 4,394,803 4,605,493 4,524,694 4,208,201
90,339
23,376
3,453
Georgia RR. deficit.......
ir
190,000
186,203
238,943
199,425
Pens. & Atl. RR. deficit.
Dividends....................... t l ,518,000 t l ,594,800 Î2,405,367 2,400,000
Total disbursements.... 6,530,756
90,778
Balance, surplus*..........
6,824,206
126,214
7,604,324
461,275
7,208,946
482,340
* To be deducted from surplus in 1886-7, $100,591. To be added t o ;
surplus for amounts to be refunded, in 1887-88, $218,869; in 1888-89,
$424,961; in 1889-90, $125,800.
t Stock dividends 5 per cent,
t 4 -90 per cent stock and 1-10 cash.
H In 1890-91 there was a
profit on the Georgia Railroad of $62,530.
—(Y. 50, p, 71,139,174, 205, 245, 275, 351, 390, 423, 874; V. 51, fc. 21,
84, 4 3 9 , 4 5 5 , 459,494,56 9 ,6 1 3 ,8 7 6 ; V. 52, p. 81,279,427,497, 498,
863, 899; V. 53, p. 21, 58.)
L ou isville N ew A lban y & C hicago.—(See Map)—Owns from
New Albany, Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 289
m ile; Indiana State line to Massachusetts Avenue, 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 m iles; 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, con
solidated with Chicago & Indiana Air Line. The Bedford & Bloomfield
RR. and the Orleans West Baden & French Lick Springs Ry. have no
debt, and their entire capital stock is deposited as security for the
Louisville New Albany & Chicago consolidated mortgage.
In October, 1890, stockholders voted to extend the road 30 miles to
the Brazil coal fields in Cook and Clay counties, Ind., to extend the French
Lick Springs road to Evansville and to acquire terminal property in
Indianapolis. See V. 51, p. 609, 787. The construction of the 30-mile
branch to the Brazil coal fields has 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, for which bonds and
stock the stockholders were then given the privilege of subscribing.
Upon the conclusion of this arrangement Gen. Thomas became Presi
dent and all litigation was discontinued. See V. 52, p. 534, 571, 608.
The general mortgage of 1890 is for $25,000 per mile of road now
owned or hereafter acquired, but of this amount $10,000,000 bonds are
reserved to retire the lets as they mature. Trustee Central Trust Co.
During the year 1890 the company spent on improvements $1,077,554.
From January 1 to May 31, 1891 (5 months), gross earnings on 537
miles were $1,040,419, against 950,344 in 1890; net, $198,963, against
$218,578.
Fiscal year ends December 31. Earnings have been as follows:
INCO M E ACCOU NT.
1889.
1890.
1888.
1887.
$
$
$
$
Gross earnings................... 2,295,623 2,292,782 2,495,823 2,630,132
999,253
868,105
957,186
Net earnings........ .............. 805,925
Deduct—
651,781
581,775
573,965
Interest on bonds..............
549,814
212,373
282,458
276,345
Rentals, taxes, &c............. 228*641
Car trust i n t e r e s t .......
25,000
864,233
850,310
864,144
Total charges............... 803,455
Balance................ .............. sur. 2,469 sur. 3,872 sr. 106,876 sr.135,109
■“ Samuel ThomaiC'PresldentrNew York ' o T ^ o T p T 391, 451, 184,
519, 5 8 8 , 590, 770; V. 51, p. 21, 206, 276, 416, 608, 787; V. 52, p. 81,
321, 390, 4 2 5 , 427, 463, 534, 571, 574, 608, 643.)
JüLY, 1891.]
RAILROAD
STOCKS AN D
BONDS
75
INVESTORS’
78
S (JPPLEMENT.
iVoL. m i
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T a bles.
[Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
Where
Payable,
and
by
Stocks— Last
Par
Rate
per
When
of I
For explanation of column headings, &c., see notes 0 f ,
Whom.
Dividend.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Louisville South.—IstM . for $5,000,000, g., guar.c*
Lykens Valley —St’k,10p.c.rental, 999 yrs. Nor. Cent.
Lyn chbu rg <£D u rha m —1st M.$20,000 p.m., gold, c*
Macon <6 Atlantic —1st mortgage, gold.....................
Macon <6 Birm ingha m —1st M. for $20,000 per mile
M acon <&Northern —1st mortgage gold...........
M aine Central— Stock.............................
Andros. & Ken. RR. 1st mortgage.......................c
Extension Ist M., Cumberland June, to D an..c
jeeds & Farm. RR. 1st M., Leeds to Farmington.«
1st M., cons., A. B. C. D. ($269,000 5s). ------- o’
Do
Class B ......................................................
Collateral trust bonds for Mt. Desert Branch..«
Sinking fd. 10-20s g., red. on or aft. Feb. 1, ’95.«
Improvement bonds, “ A ” and “ B.” . . . : ..........
Hereford R’y 1st mortgage, guar.. ...........
Upper Coos RR. 1st mort. for $350,000, g
Extension mortgage, $21,000 per mile.
Manhattan Elevated.—Consolidated stock.
Dividend bond certificates.
*Y. El.
(See remarl
1890 $500&e. $4,175,000
20
600,000
1,000
2,012,000
1890
1,000
1890
(I)
1,000
2,200,000
95 1890
107 1891
(Î)
Ï00
3,603,500
100
&C.
642,200
1860-1
55
1.166.700
71 1865 100 &c.
421.500
30 1866 100 &c.
756,800
109 1868 100 &c.
500
&c.
496.500
1870
18
633.000
36 1871 100 &e.
100
&c.
4.176.700
1872
1304 1872 100 &c.
469.000
687.000
* 41 1883
1,000
600.000
1885
450.000
1886-7
1, 000,000
56 1869 50Ó &C.
800.000
60 1870 500 &c.
1,000
1,008,000
108 1888
800,000
53 1890
1890 50Ò &c.
(1)
33 1890
(1)
1,000,000
100
26
100 30,000,000
32T
1,905,035
1,000 10,818,000
18 1878
1,000
4,000,000
1879
18
1,000
8,500,000
14 1876
126
21
115
5 g*
2*a
5 g.
t5 gg*
4 12 g.
3
6
6
6
■7
S '-
5 &7
4ia
5
6 g.
4*2
6
I s-
4
4
413
5
1*2
4
6 g.
6
7
J. & J. Louisville, Ky., Office.
Q .-J . N. Y., Office, 13 Wm. St.
New York.
J. & J.
M. & N. Nov.,’90, coup, last paid
M. & N,
New York.
M. & S.
F. & A Portand, Me., Office.
M’nthly Bost., 2d Nat.Bk.& Port.
do
do
A. & O.
do
do
Q .-J .
do
do
J. & J.
do
do
A. & O.
do
do
J. & J.
do
do
A. & O.
do
do
A. & O.
do
do
J. & D.
do
do
F. & A.
do
do
J. & J.
J. & J. Boston, Merch. Nat. Bk.
Bost.,
2dNat.Bk.&
Port.
J. & J.
do
do
M. & N.
M. & N. Boston, Mass. Nat. Bk,
M. & N.
M. & N.
M. & N. Manchester and Boston
N. Y., 71 Broadway,
Q .-J .
do
do
A. & O.
J. & J. N. Y., Mercantile Tr. Co
do
do
M. & N.
do
do
J. & J.
July 1, 1940
July 1, 1891
Jan. 1, 1940
1940
1940
Mar. 1, 1990
Feb. 14, 1891
Various, 1891
July 1, 1895
Various, 1891
Jiffy 1, 1898
Cfct. 1, 1900
July 1, 1896
Ap?. 1, 1912
Apr. 1, 1912
June 1, 1923
Feb. 1, 1905
July,’ 16& ’ 17
Jan. 1, 1894
July 1, 1900
Nov. 1, 1908
May 1, 1930
May 1, 1930
May 1, 1930
May 2, 1891
July 1, 1891
At Co.’s option
July 1, 1908
Nov. 1, 1899
Jan. 1, 1906
M a con & A tla n tic . — ( See Macon <6 B irm in g h a m )
M acon Sc B irm in g h a m .— (See Map o f Georgia Southern <£F lo rid a .)
—Projected from Macon, Ga., to Birmingham. Ala.. 230 miles, and
completed from Macon Junction to La Grange, 95 miles. Was being
built by the Macon Construction Company, which went into receiver’ s
hands in March, 1891. See Georgia Southern & Florida. The Macon <&
Atlantic is projected by same parties from Macon to the coast at Col
leton on Port Royal Sound. See V. 51, p. 538
M a con D u b lin Sc Sa va n n ah .—Road about complete«! from
Macon to Dublin, 54 m iles; projected to Savannah, 99 miles additional.
Built by the Illinois & Georgia Improvement Company of Chicago. No
bonds have been issued.
M a con Sc N orth ern .—Owns from Macon, Ga., to Athens, Ga., 105
miles. Successor to the Covington & Macon, which defaulted Sept. 1,
1890, and was sold in foreclosure May 21,1891. In 1891 leased for 99
years, renewable forever, to the Richmond & Danville and the Central
of Georgia, the lessees jointly guaranteeing
per cent interest on
the bonds, which, limited to a total of $2,200,000, retired old issue
and provide for improvements, &c. See V. 52, p. 321.
From January 1 to March 31,1891 (3 months), gross earnings were
$36,293, against $38,222 in 1890; net, $5,217, against $7,144.
In 1890 gross earnings were $150,739; net over surplus and taxes,
$24,745. (V. 51, p. 303, 383; V. 52, p. 80,164, 321, 680, 795.)
M ain e Central.—Line of road, Portland to Vanceboro, Me., via
Augusta, 251 miles; branches, Cumberland Junction to Skowhegan,
91 miles; Bath to Lewiston and Farmington, 76 miles; branches—
Dexter, Bucksport and Mt. Desert Ferry, 132 miles; Portland <&
712,690 Belfast,
602,638
551,358
Total..............
Ogdensburg Railroad, Portland, Me., to Lunenberg, 109 miles; small
121,447 branches,
*438,019
101,084
Balance, surplus.
6 miles; Upper Coos and Hereford railways, Lunenberg, N. H.,
to Lime Ridge, Quebec, 108 miles—steam ferry, 7 miles; total, 773
. * Other sources of income w ere; Sale of Bolivar County bonds, $105,- miles.
,
, „•
•000; from operations of roads pending purchase, $72,004—making sur
In June, 1891, the company offered to stockholders rights to one new
plus for year, $615,024.
share for each four held, payable 25 per cent July 15, 50 per cent
R. T. Wilson, President, New York. (V. 48, p. 854; V. 49, p. 2 3 4 ,4 7 1 ; August 15 and 25 per cent September 15, when the stock will be deliv
V. 50, p. 205, 312, 377, 588; V. 51, p. 21; V. 52, p. 427, 428.)
ered, entitled to dividends after that date. The $900,000 capital thus
L o u isv ille St. L o u is Sc T ex a s .—(See Map.)—Louisville to Hen issued is to pay for double tracking, improvements and equipment of
derson, Ky., 142 miles, of which it owns Henderson to West Point, 121 new road acquired last year.
»
_■ _
.
miles (completed April, 1889), and uses by contract with Chesapeake &
Of the stock $1,811,500 is owned by Boston & Maine. The Hereford
Ohio Southwestern West Point to Louisville, Ky., 20 miles; owns also and Upper Coos railways are leased for 999 years and their bonds guarbranch 1 mile and leases in perpetuity for net earnings the Louisville antee«!. The Coos division was opened in May, 1891.
•
Hardinsburg & Western Railroad, Irvington to Fordsville, K y., 44 miles;
In August, 1888, leased Portland & Ogdensburg for 999 years and
iptal operated, 166 miles. The first mortgage bonds are for $2,800,000, guaranteed its bonds; rental 1 per cent on stock for first three years
-of which $360,000 are held in trust for extending road to Louisville, if and 2 per cent thereafter.
.
_ £
at anytim e deemed advisable. Trustee of mortgage, Central Trust
There are also $58,000 5 per cent debenture bonds, due February,
-Company. January 1,1890, there were outstanding $300,476 equip 1894, $42,000 Shore Line 6 per cents, due 1923, and $175,000 Dexter
ment notes. Stock, $2,420,000; par, $100.
& Piscataquis 4s, due July 1,1929.
From January 1 to May 31,1891 (5 months), gross earnings were
Dividends since 1876 have b een : In 1882, 2 per cen t; in 1883, 5 ^ ;
•$169,818, against $149,003 in 1890; net, $71,092, against $62,007. In from 1884 to date at the rate of 6 per cent yearly.
year 1890 gross earnings were $396,023; operating expenses, $224,574;
Fiscal year ends Sept 30. Report for 1889-90 was in V. 51, p. 874.
net, $171,449.
1886-87.
1887-88.
1888-89.
1889-90.
W. V. McCracken & Co., 42 Wall Street, New York, Financial Agents.
535
627
647
741
•See full statement to New York Stock Exchange in Ch ronicle , V. 49, Miles operated....................
*
$
$
$
$
p? 146; (V. 49, p. 146, 434; V. 51, p. 416, 715; V. 52, p. 498.)
Total gross earnings......... 3,142,407 3,389,007 3,828,162 4,226,465
L o u isv ille Southern.—Owns from Louisville, Ky., southwesterly Total net in com e.............. 1,202/797 1,199,044 1,332,039 1,411,563
to Burgin on Cincinnati Southern Railroad, 83 miles, with branches to
Disbursements —
Lexington and Georgetown, 43 miles; total, 126 miles. Lease to Louis Rentals
233,427
284,655
192,573
paid......................... 189,000
ville New Albany & Chicago was terminated in March, 1890. (See V. Interest on bonds.............. 717,068
798,391
821,165
734,031
-50, p. 834.) The New Albany Company claims damages for the break Dividends........ .................. 215,598
215,616
215,616
215,604 ____________________
ing of the lease. See V. 52, p. 81. In July, 1890, leased for 99 years to
th e East Tennessee Virginia & Georgia, which guarantees principal and
Total disbursements.......1,121,6661,142,208 1,247,434
1,321,436
interest o f the new 50-year 5 per cent bonds. All net earnings after pay
81,131
56,836
84,605
90,127
ment of fixed charges are to be equally divided between the lessor and the Balance, surplus.................
lessee. See V. 51, p. 51, 612. Stock, $3,500,000; par, $100. See state —(V. 49, p. 823; V. 50, p. 735; V. 51, p. 874; V. 52, p. 939.)
ment to New York Stock Exchange, Ch ronicle , V. 49, p. 146; also ab
M anchester Sc L a w ren ce.—Owns from Manchester, N. H., to
stract of mortgage and lease, V. 49, p. 342 and 343.
From March 1 to December 31, 1889 (10 months), gross earn Methuen (State Line), 2 2 ^ miles; leases Methuen Branch, 3% miles;
total
operated, 26 miles. Road in operation since 1849.
lngs (as reported by Louisville New Albany & Chicago) w en
Leased for 50 years from September 1,1887, to Boston &•Maine at a
$320,971; net, $144,286. (V. 49, p. 146, 269, 342, 471, 540; V. 50, p.
rental
paying 10 per cent dividends, at which rate dividends had been
*662, 834, 904; V. 51, p. 51, 276, 303, 457, 612; V. 52, p. 81.)
paid for many years. Suit has been instituted to recover $1,000,000,
L y k en s V a lle y.—Owns from Millersburg, Pa., to Williamstown, Pa., said to be due from Concord Railroad.
20 miles; branch, 1 m ile; total operated, 21 miles. It is a coal road,
M a n h atta n E levated.—Road operated, 32-39 miles. This corpor
-leased and operated by the Northern Central Railroad since July, 1880,
.and previously by the Summit Branch Railroad. The lease is for 999 ation was formed November 24,1875, to lease and operate the two
elevated railroads in New York City. The original lease of May 20,
years from March 1,1866, and the rental is $62,500 per annum.
From January 1 to May 31, in 1891 (5 months), gross earnings from 1879 guaranteed 10 per cent per annum on the stocks. In June, 1884,
*eoal and mining operations were $372,784, against $360,953 in 1890; all liabilities were assumed and new stock was issued by the Manhat
deficit, $7,296, against deficit, $9,726. In 1890 gross, $956,826; net, tan Company, viz.: For Manhattan, 85 per cent in new stock; for New
New York, 120 per cent; for Metropolitan, 110 per cent, making the
$11,264, against deficit of $20,773 in 1889.
L y n c h b u r g dt D u r h a m .—Completed in 1890 from Lynchburg, whole stock $26,000,000. In May, 1891, $4,000,000 stock was issued
Va., to Durham, N. C., 115 miles; projected to a connection with for the acquisition of the Suburban Rapid Transit Railroad, which
Raleigh & Augusta RR., 25 miles from Durham. Mortgage is for$3,000j- owned a bridge across the Harlem River, and had a road in operation,
. 600, at $16,500 per mile of completed roadand $3,500 per mile addi to near 176th Street, N. Y., 2*2 miles. See V. 52, p. 642.
There are considerable claims pending against the elevated roads for
tion a l for equipment; trustee, Mercantile Trust Company. Stock au
thorized, $2,000,000; outstanding,$1,876,500 (par, $100), of which city damage to property on their lines, and many of these are before the
-of Lynchburg took $250,000, ana Halifax, Campbell and Durham coun courts. See Y. 51, p. 494. The consolidated mortgage (trustee, Central
ties,'$310,000. From Jan. 1, to June 30,1891 (6 months), gross earn Trust Co.) was authorized in February. 1890. It is limited on present
in gs on 115 miles were. $85,724, against $39,510 on 61 miles in 1890. mileage to $40,000,000, and will provide for prior bonds when due, for
floating debt, &c. Further amounts may be issued for extensons if dePresident, W. C. Houston, Philadelphia. (V. 49, p. 52; V.51, p. 84.)
L o u isv ille N ew Orleans Sc T e x a s.—! See Mop J —-Mam line,
Memphis, Tenn., to New Orleans, La., 456 miles ; Riverside Division,
•Coahoma, Miss., to Riverside Junction, 151 miles ; other branches, 50
tuiles; Natchez to Jackson, Miss., 100 miles; Clarksdale to Minter City,
*40 miles; total, 797 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
are “ incomes,” receiving interest only when earned; bht mi 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
aid off at 105. The Union Trust Co., of New York, is trustee of the
rst and second mortgages. Capital stock, $5,000,000 ; par, $100.
From January 1 to May 31,1891 (5 months), gross earnings were
*1,504,429, against $1,080,402 in 1890; net, $345,279, against $161,*037 ; mileage operated in 1891, 782 miles; in 1$90, 582 miles.
Earnings have been as follows:
1890.
1889.
1888.
796
657
515
Miles operated December 31.......
$
$
3,236,566
3,031,115
■Gross earnings............................... 2,434,334
834,138
1,040,657
Net earnings................................-.
652^442
■Deduct—
1,637
4,387
Rentals.......... , ................. .............
7,137
589,520
500,980
Interest on bonds................... ......
445,600
91,883
67,504
Taxes........................ . *........ .
64,684
29,650
29,767
M iscellaneous..............................
33,937
t
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BONDS.
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.PRESCOTT
MASHVILLE
SS o
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BarSV^" ^ ATL.
ANGELES
Ketl ForJ-
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attanooga
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feuräon^T <P
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Albany •
RAILROAD
SATO
. Ignacio
adalupe i
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naloa'
rOyictoria
M A P OF T H E
J u l y , 1891.]
Leiano
, ~<¡0&
,OijVPP
a
STOCKS
AN D
Hiko°
'JE
&
.O '
^ f0' A °
MEXICAN CENTRAL
RAILWAY
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Yalladolid. j
AND ITS CONNECTIONS.
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80
INVESTORS*
SUPPLEMENT,
[V ol. L in .
Subscribers w ill confer a great fa v o r by g iv in g im m ed ia te notice o f a n y error discovered in tbese Tables.
Bonds—Princi INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date ■ize, or
Due.
Amount Rate per When Where Payable, and by pal,When
Par
of
Stocks—Last
For explanation o f column headings, &o., see notes of
Whom.
Road. Bonds Value. Outstanding Cent. Payable
Dividend.
on first page of tables.
Manhattan Hlevated—( Concluded.)—
N. Y. El. deb., secured by consol, mort. of 1890..
Consolidated mortgage, gold................................c*
Maricopa <6Phoenix—1st mortgage, gold..................
Marietta <6North Georgia—1st M., gold, $7,000 p.m.
Con.lst.M..g..$4,506,000,s.f.$15,000 after 1897 c*
Marquette Houghton <6 Onton.—See Dul. S. S. & Atl.
Mem. <6Charleston—Term. State loan for $1,736,906
1st mortgage, extended— . ....................................
2d mortgage, extended.......1..................................c
Consol., gold ($1,400,000 1st on 93 m. in Tenn.)c*
General mortgage, gold...................................... c&r
Mexican Central—1st mortgage (unassented)..........
Consol, mortgage, gold, $32,000 per mile---- c*&r
1st consol, incomes,gold, non-cum. ($9,600p.m. )c*
2d con.inc.$6,400p.in.red.at 50p.c.till Aug.l929c*
Registered income bonds, unassented................ r
Mexican National—1st M., g.,subsidy, dr’n atlOO.c*
2dM.,ser.“ A,” g., inc. accum. (for $16,675,000)c*
2d M.,ser.“ B,” g., inc. non-ac. (for $16.675,000).r
3d mortgage, deb. (income not cumulative) gold.r
Texas-Mexican 2d mort. gold ($15,000 permile)c*
32
32
35
___
....
94
292
292
1,663
1.663
1.663
1,064
1,064
1,064
Ï62
1886
1890
1886
1881
1887
$1,000
1,000
1,000
1,000
1,000
$1,000,000
9,300,000
540,000
554,000
3,281,000
In trust.
1854
1,000
1,260,000
1,000
1867
1,000,000
1,000
1877
2,264,000
1884
1,000
1,000,000
1,000
1881
971,000
1,000 52,871,000
1889
1,000 15,861,000
1889
1,000 10,587,000
1889
1,000
1881
649,000
1,000 12,189,000
1887
1887 500 &c. 12,265,000
1887 500 Ac. 12,265,000
1,000
1887
7,040,000
1,000
1881
184,000
5
4
6
6
6
g.
g.
g.
g.
"7
7
7 g6 g.
(7) 4
4 g.
3 g.
3
3
6 g.
6 g.
6 g.
6 g.
6 g:
M.
A.
M.
J.
J.
&
&
&
&
&
S. N. Y., Mercantile Tr. Co.
O.
do
do
N. N. Y., Farm. L. & Tr. Co.
July, ’ 90, last paid.
J.
J.
do
do
J. & J. N.Y., Gallatin Nat. B’k.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
Boston.
J. & J.
Boston.
J. & J.
July 10 Boston, when earned.
July 10
do
do
July 1
do
do
N.
Y.,
Nat.
City
Bank.
J. & D.
M. & S.
April 1.
May 1
J. & J. N. Y., Office, 6 Wall St.
Mch. 1, 191$
Apr. 1, 1990
1916
July 1, 1911
Jan. 1, 1937
Jan. 1,
Jan. 1,
Jan. 1,
Jan. 1,
July 1,
July 1,
Jan. 10,
Jan. 10,
July 1,
June 1,
July 1,
July 1,
July 1,
July 1,
19151915
1915
1924
1911
1912
19391930
1911
1927
1917
1917
1937
1921
discharged by the payment of $14,865,594 in Mexican silver. The
total subsidy collections from the beginning, including this settlement,
amount to about $17,000,000 in American money. See V. 51, p. 909.
The $7,000,000 priority bonds were paid off with proceeds of subsidy
collections, interest ceasing April 10, 1891. See V. 52, p. 390. After
the payment of the priority bonds there was left of the subsidy about
$4,400,000 to be put fn trust and used whenever necessary for the pay
ment of principal and interest of the consolidated mortgage bonds. In
July, 1891, it was reported that a portion of this money had been ap
plied to the purchase of the 4 per cent bonds, and that over $2,000,000
of them had been bought at prices thought to average less than 70, and)
deposited with the Boston Safe Deposit & Trust Company as trustee.
See V. 53, p. 21.
In 1889 a funding plan was agreed to, in accordance with which new
bonds were issued fo retire old securities (see circular in full. C h r o n i c l e ,
V. 48, p. 191; also p.2 9 2 ,3 27 ). The'consolidated mortgage 4s (trus
tee. Boston Safe Deposit & Trust Company) cover the entire
property, all old firsts deposited, and the subsidy earned and tobe earned. (See abstract of mortgage in C h r o n i c l e , V . 49, p . 177.)'
Both series of incomes are non-cumulative and secured by one inden
ture to the American Loan & Trust Company. First consolidated in
comes received 3 per cent interest July 10,1890, and 3 per cent in July,
1891. Capital stock, $46,902,600; par, $100.
Prices of stock—In 1886,1338® 14; in 1 8 8 7,1112® 2 2 ; in 1888,12%®
l e ^ ; in 1889,1316®18; in 1890,16®3112; in 1891, to July 17 inclusive,
1814®2414.
From January 1 to May 31, 1891 (5 months), gross earnings in»
Surplus.........................
18,132
618,741
674,407
923,672 Mexican currency were $2,843,249, against $2,769,455 in 1890; net,
$1,058,676, against $954,615. Mileage, 1,527 miles in both years.
The annual report for 1890 in V. 52, p. 716, 723, gave a ful! account
* Includes other income.
of the affairs of the company and its prospects; with earnings, balance
t 3 per cent in cash and 3 per cent in dividend bond scrip.
—(V. 50, p. 138, 245, 353, 391, 519, 560, 707; V. 51, p. 206, 207, 248, sheet, &c. In the following the gross earnings are given in M exican
currency, all other figures in U. S. currency.
414, 681, 494, 719; V. 52, p. 238, 322, 351, 353, 642, 707, 832.)
IN CO M E ACCOU NT— (U . S. C U R R E N C Y E X C E P T GROSS E A R N IN G S ).
M aricopa & Plioenix.—Owns from Maricopa, Arizona, onthe South
ern Pacific Railroad, to Phoenix, Arizona, 35 miles. Stock is $600,000
1890.
1887.
1888.
1889.
(par, $100). From January 1 to June 30,1890 (6 months), gross earn Av. miles operated...........
1,461
1,527
ings were $48,506; net, $23,449; surplus over charges, $7,249. Presi
Receipts—
$
$
$
$
dent, N. K. Masten, San Francisco.
Gross earnings, Mex. cur. 4,886,578 5,774,331 6,337,225 6,425,694.
M arietta & N orth G eorgia.—Owns road completed in Au- Net earns., &c., U. S. cur. 1,680,295 1,748,459 2,096,056 1,978,157
ust, 1890, from Knoxville, Tenn., to Marietta, Ga., 217 miles; Net subsidy received.......
474,922
812,912
204,845
601,127
ranch, 7 m iles; trackage, Western & Atlantic Railroad, Marietta, Ga.,
22,542
1,273
17,953to Atlanta Ga., 20 m iles; total operated, 244 miles. At Knoxville con
nection is made with the Knoxville Cumberland Gap & Louisville,
Total net income....... 1,885,140 2,224,654 2,931,510 2,597,237
which affords access to the coal fields near Cumberland Gap, and to
Disbursements—
the Louisville & Nashville system. Interest defaulted Jan. 1,1891, and
316,313
316,313
91,981
J. B. Glover appointed permanent receiver on Feb. 23. There are to Interest on coupon notes.
Interest
on 1st mortgage. 1,254,677 1,357,717 1,767,595 2,406,114
be issued $1,100,000 of receiver’ s bonds in order to put the road in good
250,000
28,467
250,000
180,067
condition. Stock issued, $1,560,000. The Central Trust Company of Interest on debentures..
74,612
261
77,575
105,881
New York is trustee of the consolidated mortgage. Mortgage on line Miscellaneous...................
from Marietta to Murphy, 112 miles, is at rate of $16,000 a mile, and on
2,145,524
2,434,842
1,895,602
2,001,605
T
otal....'........................
Knoxville extension $20,000, average rate being $17,300. (V. 49, p.
616; V. 51, p. 345; V. 52, p. 121,165, 350,463.)
Balance.......................... def. 10,462 sr.223,049 sr.785,986 sr.162,395M arquette H o u g h to n & O n to n ag on .—See D u l u t h S o u t h —(V. 50, p. 2 4 4 ,2 7 5 ,6 6 1 . 6 6 7 , 801, 834; V. 51, p_ 114, 240, 538,.
609, 909; V. 52, p. 203, 390, 681, 7 1 6 , 7 2 3 , 831; V. 53, p. 21.)
S h o r e & A t l a n t ic .
M exican N ation al R a ilro a d (M e x ic o ).—(See M ap.)—OwnsM a ryla n d Central H a llw a y .—See B a l t i m o r e & L e h i g h .
from Laredo to City of Mexico, 842 miles ; Acambaro to Patzuaro, 96M em p h is & C h arleston.—( See Map o f East Tennessee Virginia & miles ; El Salto branch, 45 miles ; Matamoras to San Miguel, 76 miles ;
Georgia.)—Owns from Memphis to Stevenson, Ala., 272 miles; branches small branches, 5 miles ; total owned, 1,064 miles; controls through
—to Somerville, 14 miles; to Florence, 6 miles; leases Stevenson to ownership of stock, Texas Mexican Railway, Corpus Christi to Laredo,.
Chattanooga, 40 miles; total operated, 330 miles. Of the consolidated Texas, and branch, 163 miles ; other lines, 5 miles ; total owned ana
mortgage, $1,400,000 are secured by the old Tennesse State lien for controlled, 1,232 miles. This road was opened for traffic about Novem
$1,736,906, assigned to a trustee, and thus stand higher in value. On ber 1,1888.
July 1,1890, there were $173,599 car trusts outstanding, maturing 1891
The foreclosure of the former company (Mexican National Railway)to 1894. The stock is $5.312,725; par, $25.
took place on May 23,1887, and the present company acquired 716The East Tennessee Virginia & Georgia RR. in September, 1885, miles of road. It also controls the Texas Mexican Railway, owning all
placed a majority of the stock (which it owns) in the Central Trust Co. its first mortgage bonds, $1,196,000 second mortgage bonds out of a
for control. The validity of this ownership of stock was contested. A total issue of $1,380,000, and $2,453,750 of its capital stock out of a
decision of the case in Alabama is expected by September, 1891. (See total issue of $2,500,000.
V. 50, p. 703; V. 52, p. 831.)
The subsidy from the Mexican Government was $7,000 Mexican cur
From July 1,1890, to May 31,1891 (11 months), gross earnings were rency per kilometer. Prior to default the former railway company
$1,638,744, against $1,655,362 in 1889-90; net, $480,775, against pledged $2,500,000 subsidy certificates to secure $5,000,000 of first$542,103.
mortgage bonds, and at the re-organization this amount becam e
In the year ending June 30,1890, gross earnings were $1,795,480; applicable to certain of the A and B bonds for which the $5,000,000'
net, $526,480; surplus overcharges, $136,331. In 1888-9, gross earn old first mortgage bonds were exchanged. In the re-organization also,.
ings, $1,617,928; net, $389,191; interest on bonds, $376,680; car $7,000,000 subsidy certs, were pledged as additional security for the
trusts, etc., $23,406; deficit, $10,893. (V. 48, p. 398, 729; Y. 49, p . 471, $12,500,000 new first mortgage bonds, $3,000,000 of which subsidy
1 5 9 ,7 8 9 ,8 2 4 ; V. 50, p. 174, 703; Y. 51, p, 276, 4 5 6 , 612; Y* 52, p. was then delivered to the trustees and $4,000,000 remained to be831.)
earned. The construction of the 563 kilometers (350 miles) in the main,
M exican Central (M ex ico ).—(See Map)—Mileage—Main line line earned $3,941,000 of subsidy, but of this amount $939,000 is ap
Mexico City north to El Paso del Norte, 1,224 miles, 406 miles on Tam plicable for the benefit of the five million A and B bonds, leaving $3,002,pico Division, 11 miles on Guanajuato Branch, 161 miles on Guadalaiara 000 applicable to interest upon the first mortgage bonds when net earn
Division, and 16 miles on the San Bias Division, and branches 13 miles, ings are in deficit to meet the same, and afterwards for redemption o f
said bonds, subject, however, to a charge of $35,000 per year for five
made a total of 1,832 miles January 1,1891.
The company was incorporated February 25, 1880, under the general years, payable to the Mexican National Construction Company. Thelaw of Massachusetts, and by transfer the company holds a charter from Sabinas coal road, 75 miles, on which a subsidy was payable, has n ot
the Mexican Government, granted December 5, 1874. The subsidy been constructed. In the year 1890 $305,314 United States cur
from the Mexican Government was $15,200 per mile on most of the rency was paid out of subsidy collections to make up deficiency"
lines, and in July, 1890, a contract was made by which all subsidy pay in net earnings to meet interest charges on first mortgage bonds. Ne
ments on lines then constructed (except 15 miles on Pacific Coast) were gotiations are pending with the Mexican Government for the con ver-
sired at the rate of $300,000 per mile of single and $600,000 per mile of
double track. (See abstract of mortgage in Y. 51, p. 248. and applica
tion to New York Stock Exchange in full in V. 52, y. 353.) The scrip
issued for dividends is convertible into new 100-year 4 per cent consols
and is redeemable at option of company. Cash dividends were resumed
in April, 1890, after four dividends of 1*2 per cent each bad been paid
in scrip.
1 ' S&f
Dividends in 1884, 3 per cen t; in 1885 to 1887, inclusive, 6 ; in 1888,
5 ; in 1889,1 in cash and 4 ^ in scrip; in 1890, 4 1s cash and 1*2 scrip;
in 1891, Jan. 2, l 1« ; April 1,1*2; July 1, l ^ .
Prices of stock—In 1884, 6412®79; in 1885, 65®1231s ; in 1886,102®
175; in 1887, 92i2®16178; ln 1888, 77%®983s; in 1889, g O ® ^ ^ ; in
1890, 92®117; in 1891, to July 17, inclusive, 96%® 109From July 1,1890, to March 31, 1890, gross eamiugs were $7,301,447, against $6,845,468 in 1889-90; net, $3,613,974, against $3,193,190; surplus over charges, $1,904,539, against $1,773,474.
Fiscal year changed to end June 30. Statement for 1889-90 was in
Y. 51, p. 414. In the following the figures for 1889-90 are for year
ending June 30—all others for year ending September 30:
1886-87.
1887-88.
1888-89. 1889-90.
$
$
$
$
Gross earnings...................... 8,102,662 8,673,871 9,080,881 *9,388,681
Net earnings....................... 3,132,212 3,472,821 3,658,487 4,081,552
Interest and rentals........... 1,554,080 1,554,080 1,554,080 1,597,880
Dividends............................. 1,560,000 1,300,000 t l ,430,007 t l ,560,000
f
J u l y , 1891.]
RAILROAD
STOCKS
AND
BONDS.
S I
INVESTORS’
S(IMPLEMENT.
I V o l . L in .
Subscribers w i ll confer a great fa v or by g iv in g im m ediate notice o f any error discovered In these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
Dtie,
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,Whett
Par
Stocks—Lati
of
.
E of explanation o f column headings, &e., see dotes of
Dividend.
Whom,
Boad. Bonds Values Outstanding Cent. Payable)
on first page o f tables.
$100 $18,738,204
2
Michigan Central—Stock......................
1,000
10,000,000 7 & 5
Cpfisol, mort.—now 1st M. ($2,000,000 are 5s).c&r 270 1872
2,600,000
4
M. G. Michigan Air Line, 1st mortgage............c&r 115 1890 l,000&c
1.500.000
6
84 79- 86 1,000
M. C. Gen. mdrt. on Grand River Val. R R .......c&r
700.000
5
39 1889 l,000&c
M. C. 1st mortgage on Kalamazoo & S. Haven.c&r
50
491,200
84
2%
Grand Rivet valley stock, 5 per cent rental........
1,000
1872
274.000
8
147
Détroit & Bay City 1st mortgage endorsed— c&r
1,000
1873
150.000
8
Bridge bonds ................................... .....................
l,000&c
3.576.000
5
1881
Ì47
M. C. l8tM.onDet.&BayCityRR.(regis Q.—M.)c&r
2.519.000
6 &8
Jack. Lans. & Sag. con. M. ($1,586,000 are 8s) .c&r 295 71&80 1,000
1889
250.000
18
3 g.
Bay City & Battle Creek 1st mort., gold, guar...
421.000
41 1889
Battle Creek & Sturgis 1st mort., gold, guar.......
3g150.000
13 1866 100 &c.
Middletown tin. <6 IT. Gap—lstM .ext.25yrs.in’ 86.c*
250.000
i g1871 500 &c.
\2d mort. guar, interest, reduced to 5 per cent., .c*
100
2,566,100
7
Milwaukee Lalce Shore <C Western—Common stock..
100
5.000.
000 31s
Preferred stock, 7 per cent............1........ ...............
1,000
5.000.
000
1881
6 g.
Consol, mort, (now 1st mort.) $12,000 p. m. gold
1,000
1.281.000
85 1884
6 g.
Michigan Div. 1st mort, gold (for $3,000,000)..e*
1,000
1.000.
000 6 g.
40 1885
Ashland Division 1st mortgage, gold..................c*
1,000
125.000
16 1886
1st Ms.on Hurley & Onton. br’ches (dr’n at 100) .c
6 g.
1,000
544.000
Conv. debentures, secured by mort of 1889, g. .c* 531 1887
5 »
1,000
3.729.000
Ext. & Imp. M. for $5,000,000, g., s. f. not dr’n. .C 531 1889
1,000
500.000
i g1881
Income bonds (not cumulative)........ .................. r
1,000
1882
30,000
8
Equipment bonds of 1882 ($30,000 red. yearly)..
1,000
1885
400.000
6
Equip, bonds 1885 ($100,000 drawn yearly)---- o
1,000
1.120.000
1883
6 g.
St. Paul East. Gr’d Trunk lst,M. gold,int. guar.c*
1,000
1882
1,430,000
6 g.
Milwaukee <&Lake Winnebago—1st mort., gold .. .c’
1,000
1882
520.000
5 g.
income mort., gold (cumulative) interest paid.c’
1,000
1884
289.000
Debent., convert., gold, see rem arks................ c
6 g-
A. N. Y. Gr’d Cent. Depot.
N. N. Y „ Union Trust Co.
do
do
J.
do
do
S.
do
do
N.
do
do
J.
do
do
N.
do
do
N.
do
do
S.
do
do
S.
do
do
D.
do
do
D.
N. N. Y., N. Y. Suso. & W.
do
do
D.
N. Y., N. Bk. of Com’rce.
do
do
& A.
do
do
& N.
do
do
& J.
do
do
& S.
& o, N. Y., S. S. Sands & Co.
& A N. Y., Bk. of Commerce,
do
do
& A
do
do
& N.
N. Y., S. S. Sands & Co.
do
do
do
do
N.Y., 36 Wall St. & Bost.
do
do
do
do
& O.
&
&
&
&
&
&
&
&
&
&
&
&
&
&
Aug. 1, 1891
May 1, 1902
Jan. 1, 1940s
Sept. 1, 1909
Nov. 1, 1939
July, 1891
May 1, 1902:
May 1, 1903
Mch. 1, 1931
Sept. 1, 1891
Dee. 1, 198»
Dec. 1, 1989>
Nov. 1, 191Ü
Dec. 1, 1 8 9 »
Feb. 16,1891
Aug. 15,1891
May 1, 1921
July 1, 1924.
Mch. 1, 1925'
Apr. 1, 1896
Feb. 1, 1907
Feb. 1, 1923May 1, 1911
Jan. 14, 1892
Jan. 1, 1900Jan. 1, 1913;
July 1, 1912
July 1, 1912
Apr. 1, 1904
The annual report for 1890 was in V. 52, p.717, showing the followingr
sion of .the remaining certificates. The amount due is about $5,000,1887.
1888.
1889.
1890.
000 in Mexican dollars. See V. 51) p. 876.
,,
1,537
1,537
1,540
1,609
The new first mortgage for $12,500,000 is a prior lien upon all the Miles operated.........
Gross
earnings........$14,164,490
$13,770,523
$13,786,925
$14,490,711
lines in Mexico, constructed or to be constructed, and upon the above,
9,895,158 10,731,754=
named securities. The bonds are redeemable on notice at par. Trus Operating expenses. 9,875,246 10,086,606
tees Hugh M. Matheson and Charles Magniac. On Jan. 1,1891, $862,3,758,957"
3,891,767
3,683,917
397 raised by sale of first mortgage bonds remained unexpended; $743.- Net earnings............... 4,289,244
74-061
71-77
69-72
73-24
266 of this being in capital reserve fund, $69,543 in betterments fund- P. c. op. exp. to earns.
INCOME ACCOUNT.
fthd $49,589 held for debts of old company. In 1891 first mortgage
1890.
1889.
1887.
1888.
bonds for $319,000 were called and paid on June 1.
$
$
The 2d mortgage bonds, series “ A,” are strictly cumulative, and not
3,938,433
3,816,450>
3,739,193
foreclosable while stock remains in trust as below stated ; the 2d mort Net, inol’g other inc.. 4,341,962
Disbursements—
gage bonds, series “ B,” are non-cumulative ; trustées, Lyman K. Bass
184,310«
184,310
184,310
184,310
ana J. A. Horsey. Third mortgage income trustees, C. J. Canda and H. Rentals paid...............
2,270,022:
2,328,216
2,336,782
A. Risley. Stock, $33,350,000 (par $100), placed in trust with the Interest on debt........ 2,351,619
134,72»
7.731
32,513
15,938
Farmers’ Loan & Trust Company, leaving the road in control of 1st and Miscellaneous ............
407,444
355,63»
540,870
339,161
2d mortgage bondholders until it earns and pays interest on both classes Gan. Southern share..
Of bonds for two consecutive years, in which event the control reverts
2,927,701 2,944,68»
Total..................... 3,109,312
2,876,191
to the stockholders. See annual report for 1890 in C hronicle , V. 52, p.
1,010,732
871,762;
Surplus for div’d s ___ 1,232,650
863,002
532, and description of property in V. 48, p. 627.
From January 1 to May 31, 1891 (5 months), gross earnings were Dividends....................(4) 749,528 (4) 749,528 (5) 936,910 (5) 936,910$1,747,755, against $1,598,654 in 1890 ; net, $475,684,against $318,155,
Surplus................
483,122
113,474
73,822 *def.65,14»
all Mexican currency. Mileage 1,218 miles in both years.
Balance to credit of income account Dec. 31,1890, was $2,099,392..
In year 1890 gross earnings (Mexican currency) were $3,754,966 ; net,
—(V.
50,
p.
245,
6
6
0
,
662,
904;
V.
51,
p.
680,909;
V. 52, p. 717, 831,.
$827,006, equal in American currency to $661,604, to which add sub
sidy receipts,&c., $319,985; total net (Am. cur.) $981,589. Deduct inter 973.)
est on bonds, $809,500 ; miscellaneous, $135,654; balance (Am. cur.)
M ilw a u k e e L a k e S h o r e & W e s t e r n .—(See Map.)—Owns Lake$36,435, representing earnings from Fédéral Government not yet Shore Junction to Ashland, Wis., 387 miles; Monico to Huriey.88*
Collectible. In 1889, gross, $3,660,124; net, $666,693; subsidy, &c., m iles; branches (seven in number) to Oshkosh, Wausau, &c.,115 m iles;:
$203,534 ; total net, $736,888.—(V. 50, p. 451, 4 8 0 , 590; V, 51, p. 569, branches to mines, 31 m iles; spurs to mills, &c., 40 m iles; total owned’,
876 : V. 52, p. 498, 532.)
.
^
660 m iles; leases, Milwaukee to Lake Shore Junction, 4 m iles; St. P.
M ic h ig a n C e n tr a l.—(See Map New York Central & Hudson E. G. T., Clinton to Oconto, 56 miles, and spurs, 4 miles; total leased. 64
R iver.)—L ine op R oad .—Main line—Kensington to Detroit, 270 miles, miles; total owned and leased, 724 miles; but only 700 miles operated,.
and Windsor to Suspension Bridgé (Canada Southern), 226 miles; 24 miles of spurs being leased to various manufacturers. A line from
total main line, 496 miles. Branchés owned and leased—Michigan Wausaw to Marshfield, 42 miles, is to be completed in August, 1891.
Air Line Railroad, 115; Joliet & Northern Indiana, 4 5 ; Grand For the completion of this line the common stock will be increased to*
River Valley, 34; Jackson Lansing & Saginaw, 295 ; Kalamazoo & South about $2,650,000. Successor in 1876 to the former company foreclose®
Haven, 39 ; Detroit & Bay City, 151 ; Saginaw Bay & Northwestern, in 1875.
87 ; Toledo Canada Southern & Detroit, 59 ; Canada Southern Bridge
Preferred stock has a preference to the extent of 7 per cent from net
Company, 4 ; Michigan Midland & Canada, 15; Canada Southern earnings. The debentures are convertible into stock at par at any time
branches, 101 ; Sarnia Chatham & Erie, 7 ; Erie & Niagara, 31 ; Battle within ten days after the date fixed for payment of dividends on common
Creek and Sturgis, 34 ; other, 35 ; total branches, 1.099 miles ; trackage stock. The equipment bonds are redeemable $30,000 per year at p a r:
HlinoisCentral, 1 4 miles; total operated January 1,1891,1,609 miles the equipments of 1885 $100,000 per year at 105, and the Ontonagon
There are 241 miles of second track and 762 miles of side tracks.
1st mort. $25,000 per year at par, and all redeemable at 105
Organ ization , L eases , &c.—The Michigan Central was chartered in
The extension and improvement mortgage of 1889, (trustee, Central»
1846; the whole line, Detroit to Kensington, was opened in 1852. The Trust Company), covers the whole road, subject to prior mortgages, and
lines described above as leased are all held by the Michigan Central is a first lien on new branches. Under it are reserved sufficient bondsnominally under leases at fixed rentals, but are practically owned.
to retire the debentures of 1887. Its sinking fund commences in 1893_
In November, 1882, a close contract was made with Canada Southern and will receive yearly not less than $25,000; these bonds are not
for working its road by the Michigan Central and for the division of net subject to call. Common stock authorized, $5,000,000.
profits over all charges as follows—one-third to Canada Southern and
Dividends—On com mon: In 1888, 4 per cent; in 1889, n il; in 1890,..
two-thirds to Michigan Central ; but the Michigan Central is entitled to 7 ; in 1891,7. On preferred: In 1887, 7 ; in 1888, 7 ; in 1889, 6 ; in
an increase on this proportion as it diminishes its interest charge by 1890, 7 ; in 1891, in February, 3*2 ; in August, 31?.
payment of bonds or otherwise, and hence it now obtains more than
From January 1 to June 30, 1891 (6 months), gross earnings (Juneetwo-thirds of the net income.
partly estimated) were $1,538,291; net, $491,596; fixed charges,.
Stocks and B onds .—The Michigan Central stock has remained at the $391,804; surplus, $100,152.
same amount since 1873.
The annual report for 1890 was in V. 52, p. 532.
Dividends since 1870—In 1870-71,10 per cent; 1871-72,10; 1872-73
1890.
1889.
1888.
1887.
5 and 4 in scrip; in 1874 to 1877, inclusive, nil ; in 1878, 2 ; in 1879, 3%
„
$
$
$
$
in 1880, 8 ; in 1881, 6*2 ; in 1882, nil; in 1883, 5; in 1884, 3 ; in 1885 Gross earnings........... 3,180,621
3,848,567“
2,836,783
3,474,667
and 1886, nil; in 1887 and 1888,4; in 1889, 4 ; in 1890, February 1, 2 Net earnings............... 1,240,323
1,432,637“
1,520,463
1,091,774
and 1 extra; August 1 ,2 ; in 1891, February 2, 2 and 1 extra; Aug.T, 2 Other re ce ip ts .........
24,86615,294
12,989
47,733
Brice of stock: In 1880, 75®1301s ; in 1881, 84%@12612 ; in 1882
77® 105 ; in 1883, 77®1001s ; in 1884, 51% ® 94^; in 1885, 46%@79%
1,457,503:
1,535,757
1,104,763
Total net receipts. 1,288,056
in 1886, 611a®98%; in 1887, 80®951a; in 1888, 72®92*8; in 1889, 841a Interest paid*.............
703,050"
579,305
671,499
517,687
® 99*4 ; in 1890, 83®104% ; in 1891, to July 17, inclusive, 89®96.
31,764
37,860
29,593
Rentals and m iscel.. .
31,307
The Jackson Lansing & Saginaw bonds due Sept. 1,1891, which were Dividends....................
490,000
506,289»
300,000
430,000
assumed by Mich. Central may be extended till Sept. 1,1901, at 5 per Rate of dividend........ 7 on p. 4 c.
7
on
both.
7
on
both.
6 on pref.
cent, if presented at company’ s office between July 15 and August 14
also pays $70,000 per year on the stock of $2,000,000.
309,062
195,865
342,494
1210,295
Balance................
Tim total issue of Battle Creek <fc Sturgis bonds is $500,000, but of
t Of this balance $55,000 was used for redemption of bonds and*
this $79,000 was subguaranteed by the Lake Shore & Michigan South $105,000 for sinking fund.
ern, add appears in its debt, 7 miles of the B. C. & S. being operated by
—(V. 49, p. 52, 403, 793 ; V. 50, p. 71. 107,139, 4 4 9 , 452, 5 1 7 , 706;
that company.
V. 51, p.2 1 ,4 9 4,715,786; V. 52, p. 121,126,278,280, 5 3 2 ; V.53,p.95.>O p e r a t io n s , F in a n c e s , & c .— T h e r o a d is o p e r a t e d u n d e r a c lo s e c o n
M ilw a u k e e & L a k e W in n e b a g o .—Owns from Neenah totract w i t h C a n a d a S o u t h e r n , a n d t h e e a r n i n g s o f b o t h r o a d s a r e i n c l u d e d
Schleisingerville, Wis., 65 miles. Builtin 1882 andleased for 99 years to
in t h e s t a t i s t i c s b e l o w .
Wis.
Cent, at 37*3 per cent of gross earnings as rental; but after $175.In the first six months of 1891 the earnings (partly estimated) com
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 re
1889.
1890.
1891.
.$6,233,000
$6,843,000
$6,965,000 quired for improvements, and they are convertible on any coupon day
into
preferred
stock; the lessee pays interest on them during first ten
.$1,809,000
$1,875,000
$1,830,000 years after issue.
Preferred stock, 6 per cent cumulative, $786,000
. 1,260,000
1,222,000
1,230,000 common stock, $520,000;
par of shares, $100. Dividend of 3 per cent
on
preferred
stock
paid July 15,1888, lO 1^ in 1889; 9 in 1890,.
. $549,600
$653,000
$600,000 and 41a in January, was
1891. Preferred stock is now regularly paying
.
156,000
181,000
157,000 (Jan. and July) its dividend
of 4 ^ per cent, being regular preference o r
per cent,and. on account of accrued back dividend,an additional 3 per
. $393,000
$472,000
$443,000 6
cent—i.
e.,
9
per
cent
per
annum
in all. In 1890 gross rental Was. 374,764
374,764
374,764
$211,109; in 1889,$186,3 78.
M ilw a u k e e & N o r t h e r n .—See Chicago Milwaukee & ST. P aul -.
. $18,236
$97,236
$68,236
JuliY, 1891.]
RAILROAD
STOCKS
AND
BONDS.
8 »
INYESTOKS*
SUPPLEMENT.
[V ol . l i u .
J u ly , 1891.]
RAILROAD
STOCKS
AN D
BONDS.
85
Subscriber» w i ll con fer a great fa v or by g iv in g im m ediate notiee o f any error discovered in these Tables.
_________________ RAILROADS._________________
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles
Size, or
pal,When Due.
Amount Rate per
For explanation of column headings, &e., see notes of
of
Par
When Where Payable, and by Stocks—Last
Outstanding
on first page o f tables.
Road. Bonds Value.
1 Cent. Payable
Whom.
Dividend.
Milw. <§ Northern—1st mort., Schwarz.to Gr. Bay.c* 126
Cons. M. ($17,000 p.m .),lst M. north of Gr.Bay.c* 362
Mine H ill <6 Schuylkill Haven—Stock 7*2 p. c. rental
53
M ineral Range—New consol. M., gold, red. at 105..c
17
M inneapolis <6 St. L .—1st M.,Minn.toMerriam Je.c*
ZY
1st mortgage, Merriam Junction to State Line.c*
93
1st M. Minn.&Dul.,Minn.to White B.Lake,guar..c*
15
1st mort., gold, coup. (Al. Lea to Fort Dodge). .c* 102
Imp. & equip. M., 1st & 2d ser.,jun. lienonroad.c* 360
Mort.on Southwestern extension($12,000 p.m.)c*
53
2d, M.,inc.,red.at 100, g.(WhiteB’rto Ft. Dodge)c* 224
Pacific extension, 1st mortgage, gold................ c*
92
Minn. St.P. <6S.Ste. Mar.—M.S. St.M.&At. IstM . g.c* 495
Minneapolis & Pacific. 1st M., $15,000 p. m., g..c” 286
Consol. M:. (for $21,000,000), $20,000 p. m., g. .c* 800
M issouri Kansas <&Tex.—Newstock($13,000,000pf.)
Teho. & Neosho 1st mort., gold, s. f., red. at 100.. 100
East Line & Red River 1st mortgage.......... : .........
156
New 1st mortgage, gold............................................ 1,601
New 2d mort.,income (non-cum.)for 5 years gold. 1,601
Dallas & Waco lstM .,$20,000p.m .,g.,p.&i. gu.c*
67
Booneville Bridge, leased,1st M.,g.,gu.,dr’n at 100
M issouri Pacific—-Stock..................................... .........
Pac. RR. of Mo. 1st mort., g., extended in 1888... 283
2d mort., extended in 1891 in gold..................... 283
1st mortgage on depot in St. Louis.....................
1st mortgage Carondelet Branch, guar..............
Ï3
3d M. (covering all property of Pacific RR. of Mo.) 296
1st mort. on St. Louis & Lexington (Mo. Pacific).
55
Consol. M.,g.,$30,000,000 ($15,286,000 res’d)..c* 1,060
1880
1884
$1,000
1,000
50
1891
500
1877
1,000
1877 500 &c.
1877
1,000
1879
1,000
1882
1,000
1880
1,000
1880
1,000
1881
1,000
1886
1,000
1886
1,000
1888# 1,000
100
1870
1,000
1880
1,000
1890 50Ó &c.
1890 500 &c.
1890
1,000
1873
1,000
100
1808
1,000
1871
1,000
J872 50Ó &c.
1873
500
1876
1,000
1880 500 &c.
1880
1,000
$2,155,000
6
J. & D. N.Y., Ch. MU. & St. Paul
4,003,000
6
J. & D.
do
do
4
4,081,900
J. & J. PhUa. .Office, 119 S. 4th.
600,000
5 g. J. & J. New York, Agencv.
455,000
7 g. J. & J. Last paid Jan., 1891.
950.000
7 g. J. & D. Last paid June, 1890.
280.000
7 g. M. & N. Last paid Nov., 1890.
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 Dec., 1887.
500,000
7 g. J. & J. Last paid Jan., 1888.
1,382,000
6 g. A. & O. Last paid April, 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
187,000
7 g. J. & D. N. Y., Central Trust Co.
39,000
J. & D.
6
New York.
39,774,000
4 g. J. & D. N. Y., Central Trust Co.
F.
&
A.
20,000,000
N.
Y.,
when earned.
4 g.
1,173,000
5 g. M. & N.
New York City.
M.
&
N.
726,000
N. Y., Central Trust Co.
7 g.
1
47,246,300
Q .-J . N. Y., MercantUe Tr. Co.
7,000,000
do
do
4 g. F. & A.
2,573,000
do
do
5 g. J. & J.
M. & N.
800,000
8
do
do
245,000
do
do
6 g. A. & 0.
M. & N.
3,828,000
7
do
do
F. & A.
650,000
5
do
do
14,904,000
do
do
6 g. M. & N.
June 1, 1910
June 1, 1913
July 15,1891
Jan. 1, 1931
Jan. 1, 1907
June ll 1927
May 1, 1907
June 1, 1909
July 1, 1922
Dec. 1, 1910
Jan. 1, 1891
Apr. 1, 1921
July 1, 1926
Jan. 1, 1936
July 1, 1938
June 1, 1903
1910
June 1, 1990
June 1, 1990
Nov. 1, 1940
May 1, 1906
July 15,1891
Aug. 1, 1938
July 1, 1938
May 1, 1892
Oct. 1, 1893
Nov. 1, 1906
Aug. 1, 1920
Nov. 1, 1920
M in e H ill & S ch u y lk ill H a v e n .—Owns from Schuylkill Haven, 1890 leased for 99 years the Kansas City & Pacific, now a part o f the
Pa., to Locust Gap. Pa., with branches, 53 miles. Road was leased May main line to Kansas City.
12,1864, to the Philadelphia & Reading RR. Co. for 999 years at a rental
Org an ization , H is t o r y , &c.—The Missouri Kansas & Texas Company
df $326,552 per year. There is no debt, and regular dividends of 7 ^ per was organized April, 1870. In May, 1881, it was leased to the Mo. Pa
cent are paid. Operations are included in lessee’ s returns.
cific, but on June 1,1888, default was made on interest payments and a
foreclosure suit was begun. H. C. Cross and George Eddy were appointed
M in era l R a n g e .—Houghton, Mich., to Calumet, Mich., 15 miles; receivers in October, 1888. Reorganized in 1890, without foreclosure,
branch, Franklin Station to Franklin, 2 miles; total, 17 miles. This in accordance with the plan of the Olcott Committee in Y. 49, p. 719,
road was under the H. S. Ives’ management, and October 1,1887, de the old first mortgage being paid off at par. The receivers were dis
faulted in payment of interest. The receiver appointed in June, 1888, charged July 1 and Mr. H. C. Cross was elected President. See V. 52,
was discharged November 30, 1889, and road restored to company. p. 899; V. 53, p. 21.
In 1891 the old bonds were nearly all retired, the new capitalization
The East Line & Red River RR., most of whose securities are owned
being $400,000 stock and $600,000 consolidated first mortgage bonds. by this company was placed in the hands of W. M. Giles as receiver in
The new bonds cover all the property, including $250,000 of Hancock & April, 1891. See V. 52, p. 641.
Calumet stock, which is five-sevenths of the whole issue.
The company has a land grant in the Indian Territory of 3,622,400
From Jan. 1 to Mar. 31,1891 (3 months), gross earnings on 17 miles acres,
subject to the extinguishment of the Indian title. The Booneville
were $28,429, against $22,880 in 1890; net, $12,828, against $10,195. Bridge Company is a separate organization.
In 1890 gross earnings, $125,469; net, $60,053. Gross earnings in
The
of the International & Great Northern Railroad was ac
1889, $109,775; net, $47,845. President, Charles Bard; Secretary, John quired stock
by Missouri Kansas & Texas in May, 1881, by an exchange o f
Tully, 40 Wall street. (V. 52, p. 390, 571.)
two shares of Missouri Kansas & Texas stock for one of International <fc
M in n ea p o lis & St. L o u is.—Owns main line, Minneapolis to Angus Great Northern. This stock (97,284 shares), in accordance with the
la., 259 miles; Pacific Division, Hopkins to Morton, 92 miles; Kalo reorganization plan, is held jointly by the Missouri Kansas & Texas
and Missouri Pacific, the control being vested in Mr. F. P. Olcott, who
Branch, 2 miles; Lake Park Branch, 1 ^ miles; total operated,
miles. Leases trackage from Minneapolis to St. Paul over St. Paul & holds 1,000 shares.
Stock and B onds .—The new stock is $13,000,000 4 per cent nonNorthern Pacific Railroad; also owns from Minneapolis to White Bear,
cumulative preferred and $47,000,000 common. Price of new pre
12 miles, which is leased to the St. Paul & Duluth Railroad.
Of the bonds issued under the 1877 mortgage, due June, 1927, those ferred stock: In 1890, 16J2'3>31:18; in 1891, to July 17, inclusive,
numbered from 1,101 to 1,400, for $500 each ($150,000 in all, in addi 19%®26.
Full abstracts of the new first mortgage (trustee Central Trust Company)
tion to those above), were assumed by the Burlington Cedar Rapids &
Northern RR. Preferred stock, $4,000,000 issued; common stock, and of the new second mortgage (trustee Mercantile Trust Company)
$6,000,000 issued; par of both $100 per share. The Jan., 1888, coupon were in V. 51, p. 495. Both mortgages cover the securities of proprie
on equipment bonds went to default. W. H. Truesdale, President, was tary lines, as well as the lines owned directly. Payment of interest on
appointed receiver in June, 1888, in the foreclosure suit under improve the new second mortgage bonds is not obligatory till after Aug. 1,1895.
ment and equipment mortgage. The suit is pending and reorganization Interest is guaranteed on $2,500,000 Kansas City & Pacific 4 per cent
plan will soon be offered. The last coupon paid on each issue is shown bonds and $752,000 Booneville Bridge 7s, and principal and interest on
Dallas & Waoo bonds (issue limited to $2,000,000.)
in the table above.
The company’s interest charges will be as follow s: Interest on $39,The Farmers’ Loan & Trust Company brought suit in May, 1891, to
get possession of that portion of the road covered by the mortgage of 774,000 new lsts, $1,590,960; interest on $226,000 Tebo & Neosho and
East
Line & Red River bonds, $15,430; total fixed interest charges,
which it is trustee. The case has been appealed to the Supreme Court
o f Minnesota, and will probably be heard early in the fall. See Y. 52, p. $1,606,390; interest on $20,000,000 second mortgage 4s (not a fixed
charge
till after August 1,1895), $800,000; total interest charges ahead
718, 940.
From July 1,1890, to May 31,1891 (11 mo’s.), gross earnings were $1,- of preferred stock, $2,406,390.
From Jan. 1 to July 7,1891, gross earnings on 1,582 miles were $4,473,125, against $1,407,633 in 1889-90; net, $518,201, against $476,851.
Fiscal year ends June 30. Report for 1889-90 was given in full in 035,839, against $3,887,466 on 1,650 miles in 1890. For the same
C h r o n i c l e , V. 51, p. 425. For year ending June 30,1890, gross earn period the Kansas City & Pacific, gross earnings were $170,828
ings were $1,507,122; net, $505,173. In 1888-89 gross earnings, against $144,960 in 1890.
Report for 1890 was in Chronicle,V. 52, p. 640. Earnings, etc., have
$1,330,518 ; net, $332,960.—(Y. 49, p. 235, 3 4 0 ; V. 50, p. 71, 204, 205 .
been as follow s:
V. 51, p. 84,142, 4 2 5 ; V. 52, p. 321, 608, 642, 681, 718, 940.)
TRAFFIC AND EARNINGS.
M in n ea p o lis St. P a u l & Sault Ste. M a r ie .-f& e Map.)—
1889.
1890.
From Minneapolis to Sault Ste. Marie, Mich., 491 miles; branches, 23 Miles operated (average).................................
1,711
1,777
m iles; from Minneapolis northwest to Boynton, Dak., 286 m iles; total Total gross earnings.............
$7,922,444
$9,004,005
completed, 800 miles. Formed May, 1888, by consolidation of the
Operating Expenses—
Minneapolis Sault Ste. Marie & Atlantic, the Minneapolis & Pacific, Maintenance of cars and way.
$2,241,997
$1,661,664
etc. (See V. 46, pp. 538, 609.) Controlled in the interest of the Cana Motive pow er.................... ......
1,856,179
1,999,977
dian Pacific, which guarantees by endorsement 4 per cent interest on Transportation.......................
1,953,966
2,483,948
the bonds. (See V. 50, p. 784; V. 51, p. 239.) About one-half the General.....................................
192,864
206,273
Minneapolis & Pacific bonds and practically all of the other issues have
assented to the reduction of interest to 4 per cent. Holders of consols
Total
expenses.
$6,245,006
$6,351,862
assenting were to surrender 15 per cent of their holdings in ex
Net earnings...................................................... $1,677,438
$2,652,143
change for an equivalent amount of income certificates.
Abstract of Minneapolis Sault Ste. Marie & Atlantic mortgage in Y. 45, P.c. of op. exp. to earns, (exclu. of extraod’y
70-22
70-54
p. 243. The consolidated mortgage of 1888 (trustee, Central Trust Com
RECEIVERS’ INCOME ACCOUNT.
pany, mortgage abstract C h r o n i c l e , V . 47, p . 142) will retire the prior
1889.
1890.
bonds at maturity; see V. 52, p. 608. Stock—common, $14,000,000;
$
Receipts— .
.
$
preferred. $7,000,000; par, $100.
Net earnings, including other receipts........ $1,737,622
$2,701,489
From January 1 to May 31,1891 (5 months), gross earnings were
Disbursements—
$774,373, against $812,653 in 1890; net, $246,593, against $233,664.
Interest on bonds, etc...................................
$99,648
$62,931
In 1890 gross earnings were $2,013,370; net, $669,004. In 1889, Rental K. C. & P. R R ...........................................................
99,096
gross, $1,651,412; net, $609,570.—(V. 49, p. 373; V. 50, p. 801; V. 51, Taxes................................
187,266
162,280
p. 239, 416; V. 52, p. 280, 608.)
Total disbursements................................. $286,914
$324,307
M issou ri K a n s a s & T ex a s.—( Sec Map.) R o a d O w n e d a n d
O p e r a t e d . —Owns from Hannibal, Mo., to Denison, Texas, 577 miles; Balance....................................................... ...... $1,450,708
$2,377,182
branches, Parsons, Kan., to Junction City, Kan., 157 miles; Denison, —(V. 50, p. 71,107,138, 205, 244, 313, 352, 353, 391, 423, 452, 484,
Tex., to Whitesboro, 25 miles; Fort Worth to Taylor, 162 miles; Deni 590, 6 2 0 , 662, 703, 735, 771, 801; V. 51, p. 172, 416, 457, 494, 49 5 .
son to Mineola, Texas, 103 m iles; three small branches, 20 miles; total 538; V. 52, p. 121, 204, 428, 463, 609, 6 4 0 , 641, 796, 899, 902, 973 ;.
owned, 1,044 miles, not including 54 mileS leased to the Missouri Y. 53, p. 21, 97.)
Pacific. Proprietary lines in Texas (entire stock owned): Denton,
M is s o u r i P a c if ic .—R oad Ow n e d and Op e r a te d .—Operates main
Texas, to Dallas, Texas, 37 m iles; Dallas to Greenville, 53 miles; line St. Louis, Mo., to Omaha, Neb., 496 m iles; Pleasant Hill, Mo., to
Whitesboro to Henrietta, 87 miles; Taylor to Boggy Creek, 90 miles; Joplin, Mo., 133 m iles; Verdigris Valley Independence & Western RR.
Ban Marcos to Lockhart, 16 miles; Trinity to Sabine, 67 miles; Dallas and extension—Leroy to Deering, Kan., 81 m iles; Leroy & Caney Val
& W acoR R .—Dallas to Milford, 51 miles (extension since completed, ley—Roper to Peru, Kan., 52 m iles; small lines in Kansas, Missouri and
16 miles); total proprietary lines, 401 miles; total length of all owned Nebraska, 686 m iles; total Missouri Pacific system proper, January 1,
lines operated, 1,445 miles.
1891,1,448 miles, of which 1,194 miles are owned and 254 miles oper
Operates jointly with Texas & Pacific—Fort Worth to Whitesboro, 71 ated under lease.
miles. Leases Kansas City & Pacific Railway—Paola to Stevens, 130
Also operates certain “ branoh lines” which have a separate corpor
miles; S. D. & D. Railway—Denison to Sherman, 10 miles; total oper ate existence, but which are nevertheless an integral part of the sys
ated l,6_56miles. The Holden branch additional, 54 miles, is owned by tem, most of their bonds being pledged to secure Missouri Pacific
Missouri Kansas & Texas, but leased to Missouri Pacific. East Line & issues. The branch lines include the Kansas & Colorado Pacific, etc.,
Red River RR.—Jefferson to McKinney 153 miles (of which 121 miles affording a direct line from Ottawa, Kan., to Pueblo, Col., 540 miles,
narrow gauge) is operated separately by W. M. Giles as receiver. In the Kansas City Fort Scott & Wichita—Fort Scott to Kiowa. Kan., etc.,
8 6
rNTESTORS*
SUPPLEMENT.
[VOL. LIII,
J u l y , 1891. J
RAILKOAD
STOCKS
AND
ROTSms
S u b sc rib ers w ill confer a great fa v o r by g iv in g Im m ediate notice o f any error discovered In these
INTEREST OR DIVIDENDS
Miles Date Size, or
Bonds—Prindl «
Amount |TJ„
~ r ------------------------------------- -—
For.explanation of eolmnn headings, &c., see notes of
of
Par
When Du®.
Outstanding Kate per When Where Payable, and by pal,
on first page of tables.
*
Road. Bonds Value. __________
Stocks—Last
_ Cent. Payable
Whom.
Dividend.
Missouri Pacific—( Continued.)—
Collateral trust bonds, gold ($15,000,000).. ,c*&r 1,120
Collateral trust bonds for $10,000,000 gold___e*
Boonville St. Louis & Southern RR. 1st mort....... '4 4
Ler. & Caney Yal.RR.lst M.,g.gu. ($10,000 p.m.)c*
80
Verdigris Val. Independence * W. 1st M.,g.,guar.
75
M issouri Pacific System—St. Louis Ir.on. Mt. <6 So...
St. Louis Iron Mt. & So. 1st mortgage..................c 210
2d mortgage, gold.......................................... ... c* 310
Arkansas Branch 1st mort., gold, land gi&ut..
99
Cairo Ark. & Tex. 1st................ . . ..............c*&r
71
Gen. consol, and land gr. M. for $45,000,000. .g 1.272
5°
do
stamped, guaranteed............. . 1.272
Car trusts, series D. and E .........................
Kansas & Arkan. Val. 1st M. $20,000 per in., g
Ì65
Little Rock &Ft. Smith 1st M.,land gr. sink.fund., 165
Ten-year coupon notes (scrip)............ .........
JAttie Rock Junct’n 1st & 2d M. ($35,000 are 2d). ’ "2
Mobile A Birm.—1st, gold, guar. ($20,000 p. m.).c&r 147
Mobile A Dauphin Isl.—1st M. g. (for $3,000,000) .c
Mobile <6 Oirard—3d mortgage ($200,000 are 6s). .c '8 5
Mobile A Ohio—1st M., g., Mob. to Colum., 472 m.c* 472
1st mort., exten.,gold,Colum. to Cairo & branch c*
55
General mortgage for $10,500,0001. g. s. f ..........c 527
Equipment bonds ($60,119 of these are car trusts)
Monterey A Mex. Gulf—1st. M. g., $25,000 per m c* 29Ï
Montgom <6Eufaula—1st, s. f., $15,000 not dra’n.c*
81
Mont. Tusc. A Mem.—1st M., gold, $18,000 per m c*
Morgan’s La. A Tex.—1st M. (N. O. to Morgan Cityjc* Ï02
1st mortgage, Alexandria Extension, gold............ 157
1887
1890
1886
1886
1886
1867
1872
1870
1872
81to’7
$ 1,000 $14,376,000
M.
1,000
7.000.
000 K g- P.
1,000
400.000
§ g- F.
1,000
520.000
5 S- J.
1,000
750.000
5 g- M.
1,000
1,000
1,000
1,000
1,000
1,000
1887
l ’,ÓÒ’o
1875 500 &o,
1884
l',Ò00
1887
1,000
1888
1,000
1877
1,000
1879 500 &c.
1883
1,000
1888 500 &c.
84to’9 1,000
1888
1,000
1879
1,000
1889
1,000
1878
1,000
1880 j 1,000
919
40tal P11163« 6 January 1, 1891, being 1,697 miles
Total Missouri Pacific and branch lines, 3,145 miles
8
Aiso operates Central Branch Union Pacific, 388 m iles; Sedalia Warsaw & Southern. Sedalia to Warsaw, 42 miles; St. Louis Iron Mountain*
Southern and leased lines, 1,550 miles; total, 1,980 miles. Grand total
m ssour1Pacific imleage January 1,1891, 5,125 miles. Since a c S e d
Houston Central A^kansas & Northern, MoGehee, Ark., to Riverside
La., 118 miles, and Fort Scott * Eastern, 27 miles
’
^ a? ANIZAF ° i ’ L e a s e s , &c.—The Pacific RR. o f Missouri was sold in
foreclosure September 6,1876. The present company was a consolida¡ X o “ ro a f£ 8t’ 188° ’ embraoing 4116 Missouri Pacific and a number ^
Tk® SL Louis Iron Mountain & Southern stock is mostly owned bv the
Missouri Pacific, much of it having been acquired in May, 1881, by exa
v r « 168!?^ ri^0+u>aC' for four ^ ares of Iron Mountain.
« ^ C* AND L onds .—Under the new regime the payment of dividends
was begun on the present stock in 1880, in which year in* per cent was
^ ¿ „ D i v i d e n d s since have been: In ’ 1881, 6 ; f n l8 8 2 , 6®4 ; i n l 883
January,*l^Aprjb’, l f ju ly ^ l“ 1888’ 5H i ln 1889,4; In 1890’ ^ in 1891,
&
&
&
&
&
S. N. Y., Mercantile Tr. Co,
A.
do
do
A.
do
do
J.
do
do
8.
do
do
Jan.
Aug.
Aug.
July
Feb.
l,
1,
l,
1,
1,
1917
1920
191JL
192«
1926
4.000.
000 7
F. & A.
do
do
1, 1892
6.000. 000
7 g - M. & N. New York or London. Aug.
May 1, 1897
2.500.000
J.
&
D.
N.
Y.,
Mercantile
Tr. Co. June 1, 1898
l g- J. & D.
1.450.000
do
do
June 1, 1897
l g- A. & O.
18,528,000
do
do
Apr. 1, 1931
« g*
6.956.000
do
do
5
g. A. & O.
Apr.
1, 1931
894.000
t ’ *" *_
do
do
3.400.000
5
J. & J.
do
do
Jan.
1,
1937
2,342,500
7
J. & J.
do
do
Jan. 1, 1905
356,510
7
J. & J. Boston, E. Atkin & Co.
435.000
7
A, & O.
do
do
3.000.
000 5 g. J. & J. N. Y., Chase Nat. Bank. April, 1914
Jan. 1, 1937
350.000
6
F. & A. N. Y., Of., 32 Nassau St.
1928
1.000.
000
4 * 6 J. & D. N. Y. Security & Tr. Co.
7.000.
000 6 g J. & D. N. Y., Farm. L. & Tr. Co. June 1, 1897
Dec.
1, 1927
1.000.
000
Q.—Jan,
do
do
1, 1927
f g M.
8.169.000
& S. N. Y., Gallatin Nat. Bk. July
Sept.
1,
1938
808,792
6
Quarily.
New York City.
Var., *91 t o ’9 9
7.275.000
M. & N. New York and London. Nov. 1, 1938
1.500.000
J. & J. N. Y. Security & Tr. Co. July 1, 1908
2.070.000
J. & D. N. Y., Office, 45 Wall St.
1, 1929
5,000,000
? g- A. & O. N.Y.,S.Pac.Co.,23Broad July
Apr. 1, 1918
1.494.000
6 g. J. & J.
do
do
July 1, 1920
QriJ-nÄ
245> 275> 3 8 9 >519» 669, 874; V. 51, p. 84 171 89Q
876, 910; V. 52, p. 4 2 5 , 534, 761.)
' p
x
8Z9>
M isso u ri Pacific System—St. L o u is Ir o n M o u n ta in
Sou th ern .—Owns St.
e e - t7 °
The general consolidated mortgage is for $45 000 000 miffiniont
A
being reserved to retire, all prio?i8gsue8 t h ^ e ’ c ^ r i °g on ti 485
The mortgage is &first hen on the 787 miles in Arkansas «mi iv fo n ie8‘
sold lands, amounting to 779,059 acres“ n January 1,1891 dT m f t e ^ f
mortgage, Mercantile Trust Company of New York As
the table above, part of the general mortgage 5s are endorsed
Missouri Pacific’s guaranty of principal and interest J a n u a r v T im i*
i t e n V l ^ StlU $344’ 314 0ld 1110011168 o£ variousnUf s s ^ 18oufe
($25,763,950) is nearly all held in the treasury of the Min.
Faciflc Railway Co., much of it having been retired in Mav 1881
in
by
the
issue
of
three shares of Missouri Pacific stock for four o tth n
60%®73%.
&A
Ir,on Mountain, and a large amount of it s in c l The sales of
The 2d mortgage bonds of Pacific RR. of Mo. maturing Julv 1 1891
^“ Arkansas^were given in the report for 1890 as 39,982 ^ re s at
Ttfoa
* tbe r^te of ® per cent per annum, gold, until July l ’ f ? 89 Per acre: in Missouri as 11,549 acres for $1-09 per acre? from
1988>£be Pr®.8out security and hen remaining in force. SeeV 52 p 761 Little
Rock & Fort Smith Railroad grant 16,419 acres for * 3-28 n«n
TJ ^ coni <S ? ate<^ ori i age above is for $30,000,000—trustees John F acre. Lands m Arkansas unsold December 31,1890, 693,217 acres -Pfn
Dillon and Edward D. Adams. Of the consolidated bonds the balance
unissued is m the hands of trustees to redeem prior bonds as they fall acresUn’ 85,842 acres ’ of Little Rock * Fort Smith R R ., 532,196
C h r o n i c l e ^ ^ 47* pf | g ^ r t g a g e containlllg descriptions of prior hens
Fort ®mitb Road was absorbed by an exchange of
111
for 3 of St. Louis & Iron Mountain ) SefftitlA
Th? coUaf eral trast bonds due 1917 (Union Trust Company of New «^ b a tcom
p a n y in S u p p l e m e n t of May, 1888, and previously
titl®
S l ^ ’oofir «i6* n o n 86Curi;d *7 mortW e bonds of new railroads at
The St. Louis & Iron Mountain report for 1890 was in V. 52, p. 425.
V. 46°p. 6y | 1 5 ’ 0 0 ° P
For securities pledged, &c., see C h r o n i c l e
INCOME ACCOUNT.
As to collateral trust bonds due in 1920, see V. 50, p. 669.874 An ....
x |
1888.
1889.
1890.
.........
1190
Miles
operated.....................
n o n $55,000,000 was authorized in July, 1890, of which
1.208
1,550
Receipts—
,
’®
$
bond0«0
non o o i f i ^ an b0nUi wlTth % $10,000,000 collateral trust Gross earnings.-........................
$
8,08^646
S25?«’i?ri000’200 S exchange for Iron Mountain stock, and the remain
8,964,795 10,859,173
1 8 as % stockholders may from time to time determine Net earnings.................................. 2,994,614
3,773,355
3,889,487
? b 6 -Ler°y & Caney Valley Railroad in Kansas, 8 0 miles, is leased and Other receipts.................................
60,239
288,529
27,356
be*ulf guaranteed by Missouri Pacific as also the Verdigris Valiev Inde
pendence & Western. The Booneville St. Louis * Southern RR (Boone
Total net income..................... 3,054,853
4,061,884
3,916,848
ville to Versailles, Mo., 44 miles) is leased at $25,000 per annum
Disbursements—
Interest on bonds.......................... 2,407 300
2,407,626
2,414,506
Taxes, bridge expenses, &c........
*409’,003
383,144
798,979
D
ividends...............
““
for the’ years
1,030,248
773,294
A ll litics—
1888.
1889.
Total disbursements............... 2,816 303
1890.
3,821,018
3,986,779
Miles operated, average.....................
4813
5,019
5,125
+240,866
$ *
Total earnings................................. 22,189,453 23,493,467 25,370,344
v 25
3I ; 5p504 i .
Total expenses............. 15’,852*842
15,532,883 18,002,729
¿z a / f iK S J Í
Surplus earnings....................... 6,336,611
7,960,584 7,367,615 ^ n a & Georgia Road, about 147 miles; trackage to Mobile and Selma
Ratio op. exp. to gross earn............71-44 p c
70-96 p. o, ü ^ m 08’ °Pened?n July, 1888. Abstract of mortgage V. 45 p 274^
Tent* t.hfi UiaciAuni
----------------For the Missouri Pacific proper and b r a n c h (3+45 ^ iie s l not ing East Tennessee Virginia & Georgia owns a majority of the stock ami
eluding Iron Mountain and other auxiliaries, the report was as follows : sruarantees principé and interest of bondsTstock, $3,000,000 (par
q¿ a S paya,ble August 23, 1888, $627,500. In year ending
EARNINGS AND EXPENSES.
80> 1890, gross earmngs, $251,852, against $284,122 in 1890-91?
1888
1889.
1890.
net,
$61,199
¡in terest, $150,000; taxes, $11,562; deficit, $100 362*
Miles operated December 31___
3 119
3,119
3,145
Earnings—
V
-?(V ^ l^ p 36125)0 f° r 1888' 89- l'otal deficit to June 30,1890, $236^912*
$
$
Passengers— .............................. 2,939,725
2,665,354
2,742,808
M obile ¿cD a n p h in Isla n d R a ilro a d & H a rb o r Com na o v
...............
..................... 7,790,949
8,286,682
•9,174,427
Mobile to Dauphin Island, Ala., 36 miles. Stock “ uMail, express and miscellaneous.. 1,647,967
1,624.184
1,589,294 President$3’000’000; outstandmg, $90,000. Robert Sewell, N. Y .,
12,378,641 12,576,220 13,506,529
Total earnings...................
Total operating expenses............. 9,411,980
M obile & G irard.—Owns from Columbus, Ga., to Trov Ala
8,868,828 10,224,706
miles. Under construction from Troy southwest to Andalusia. A la ’ If
Net earnings........................ j ....... 2,966,664
3,707,39«
3,281,823 ®Voeenn8tockboldei!,8 voted November 22, 1890, to issue bonds all
f l 2’ 899 Per uuie for the extension from Troy, Ala., to Pollard. Brew~
. .
INCOME ACCOUNT.
ton, or some other point, the total issue not to exceed $4 000 OOO
Receipts—
1888
1889.
1890.
Net earnings..........................
aw q c«
Common
stock, $1,137,121; preferred stock, $137,608, and $2,630 Pik®
$3,707,392 $3,281,823 County stock;
par, $100. From June 1, 1886, road was leased to thS
Dividends, interest, * c ... ........*941^376
1,981,790 2,223,951 Centrai of Georgia
(which owns $816,150 stock) for 99 years at a
Total net income— ............... $3,908,037 $5,689,182 $5,505,774 anteed dividend of lig peí cent per annum on $473,400 stock oF*the
Disbursements—
$274 08f-00’ ne?
$899.99? 4 s . I n l889-90 ¿ p ? 8 earnings!
Interest on b?nds........ ?............... $2,535,718 $2,458,485 $2,598,143 $274,082, net, $78,132; interest, $48,800; taxes. $10 115*
surplus, $19,216; dividends, $19,045; balance, $171. (V. 51* p, 570*
Dividends paid.............
*i w o i v n
1,758,994
1,823,498
Rate of dividend................ ...........
’ *3 £ °
4
4
Taxes, rentals, &c..........................
941 523
° ^ i ° . —(See Map.)—Owns from Mobile, Ala., to Colum793,275
588,187
Commissions on bonds........ . . . .
250*000
t i 2T^nIeS’ Pr°Prietary line, Kentucky & Tennessee Railroad
Loss on St. L. & San Fran, stock. .
283*230
to Cairo, 21 miles; also branches to Stark ville, &c., 34 miles - total
m iles; leases St. Louis & Cairo Railroad, Cairo to St. Louis
Total disbursements............... $5,549 591 $5,010,754 $5,009,828 ^ jjegnu£e8» and track to Millstadt, 9 miles; total operated, 68Í?
Balance for year............................ +$1,641,554 +$678,428 +$495,946
Di 1886 the lease p f the Sti Louis & Caiio Railroad (161 milesl was
* The dividends actually paid in the year 1888 were 5% per cent but taken for 45 years at a rental guaranteed to amount to $165,000 per
^toc j authorized, $10,000,000; outstanding, $5,320,600 • rwr
the income account m the report gave only 3^ , as above P
DUi
$100. Lands June 30,1890, were 685,610 acres, valued at $359 029. *
8 8
INVESTORS’
SUPPLEMENT.
[V ol. L in .,
J u ly , 1891.J
jRAILROAD
STOCKS AND
BONDS.
89
90
JLNVESTOJRS’
SUPPLEMENT.
[V ol. L IU
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal, When Due.
Date Size, or
Amount Rate per When Where Payable, and by Slocks—Last
Par
òf
For explanation of column headings, &c., see notes of 1
Whom.
Dividend.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
$50 $15,000,000
3H» J. & J. N. Y., Del. Lack. & West. July 1, 1891
May 1, 1914
do
do
M. & N.
1864 500 &c.
5,000,000
7
Aug. 1, 1891
do
do
F. & A.
2,999,000
7
1866 500 &c.
Jan. 1, 1900
do
do
281,000
J. & J.
7
Var’us 1,000
Oct., 1901
O.
do
do
1,000
A.
&
4,991,000
7
1871
Gen. M. & 1st on Boonton Br. &c. (guar. D.L.&W.)
June 1, 1915
do
do
1,000
J. & D.
8,908,000
7
•Consol. M. (for $25,000,000) guar. D. L. & W.c*&r Ï37 1875
Various.
do
do
2,795,000 413& 5
Var’us
May, 1891
100
M. & N.
do
do
250,000
2
2
Morris & Essex Extension stock, guar. 4 per cent.
May
1, 1891
M.
&
N.
Nashua,
Co.’s
Office.
100
800,000
4*2
15
Nashua & Lowell—Stock,9 p.c. rental,92 yrs. B.&M.
Aug. 1, 1893
F. & A.
do
do
200,000
6
1873
Julv
1,
1900
do
do
J.
&
J.
100,000
1880
5 g0 ..-F . New York & Nashville. Aug. 1. 1891
io o
10,000,000
11*
Nashville Chattanooga <& St. Louis—Stock...............
July
1,
1913
N.
Y.,
Continental
N.
Bk.
1,000
6,300,000
J.
&
J.
7
1873
1st mortgage (for $6,800,000).................... ; - .c*<fer 34Ó
Jan. 1, 1901
do
do
1,000
1,000,000
J. & J.
6
2d mortgage, gold or silver.............................. c*<fer 321 1881
Jan.
1,
1917
1,000
J.
&
J.
do
do
750,000
6
1877
1st M. on Fayette, and McM.tors. ($6,000 p.m.)c*&r 125
Oct. 1, 1917
1,000
do
do
J. & J.
300,000
6
29 1877
1st mortgage on Lebanon Branch........ ; ......... . .c*
Jan.,1906&’
23
1,000
J.
do
do
J.
&
461,000
’77-’
83
6
g.
&
8
43
1st M. on Jasper Br. ($90,000 are 8s, due 1906) c*
Jan. 1, 1923
do
do
1,000
376,000
46 1883
6 g. J. & J.
1st mortgage on Centreville Branch, gold---- c*&r
Jan.l892to’
17
do
do
1,000
J.
&
J.
600,000
6
20 1887
1st M. on Tracy City Br. (Tenn. C. & I. RR.) .c*«fcr
July 1, 1917
do
do
1,000
130,000
6 g. J. & J.
7 1887
1st M. on Bon Air Br., 10-30s, $20,000 per mile.c*
Apr.
1,
1928
do
do
A.
&
1,000
O.
2,847,000
5 gConsol. M., g., (for $20,000,000), $20,000 p. m.c* 650 1888
Jan. 1, 1896
do
do
106,000
6 & 8 J. & J.
48 1876 500 &c.
Duck River RR. 1st M., $6,000 p. m., assumed.c*
do
do
Nov. 1, 1909
1,000
34,000
6 g. M. & N.
48 1881
2d mortgage, assumed........................... i .........e*
June 6, 1891
Nashville.
25
2,208,582
J. & D.
3
Nashville & Decatur—Stock, guar. 6 p. c. by L. & N. 119
July
1, 1900
N.
Y.,
23
Naâsau
St.
1,000
2,100,000
J. & J.
7
1st mort., guar., s. f. ($200,000 held in stock fd.). 119 1870
Aug. 1. 1937
do
do
1,000
1,920,000
5 g. F. & A.
91 1887
N ash.Flor. dk Sheff.—1st M. for $2,500,000, g., gu.c
1918
1,000
M. & N. N. Y., Mercantile Tr. Co.
900,000
6
1888
Nashville <6 Knoxville—1st mort. for $2,000,000. .c*
100
2,000,000
J. & J. New Haven, Ct., Treas. July, 1891
5
Naugatuck—St’k,10 p.c. ren’l, 99 yrs.,N.Y.N.H.&H.
June 1, 1913
do
do
150,000
J. & D.
4
"55 1883 l.OOO&c
1st mortgage....................................- ......... - ...........i
M orris <t Essex—Stock, 7 p. c. guar. D. L. & W ........
"84
84
In May, 1888, the new 4 per cent mortgage for $10,500,000 (trustee,
■Farmers’ Loan & Trust Company,) was issued to pay floa,tmg debt, re
tire debentures, &c. Until after September 1, 1891, interest on the
’bonds may toe paid in scrip, fúndatele into bonds of same issue, and the
."March, 1889, coupons were so paid; the September, 1889, coupon was
"paid half cash and half scrip; the 1890 coupons and the March 1891
coupon all in cash. There can toe no foreclosure under this mortgage till
four coupons are in default. Of the total amount ($10,500,000) authoriized under this mortgage, there lias been canceled by operation of the
«inking fund $500,500, there are held to exchange for debentures not
exchanged $120,545, and the company holds in reservé in its treasury
482,055,000. See mortgage abstract, V. 47, p. 83. There are still out«tanding $26,000 Cairo extension 6s, due July 1,1892, for which ex
tension bonds o f 1883 are reserved.
From July 1,1890, to March 31, 1891 (9 mos.), gross earnings were
*2,536,983', against $2,194,927 in 1889-90; total gross receipts, in-cluding other income, $2,750,946, against $2,362.429; net over oper
ating expenses and taxes, $988,424, against $836,082.
Price of stock: In 1891, to July 17, inclusive, 26®4414.
Fiscal year ends June 30. Report for 1889-90 was given at length m
C hronicle, V. 51, p. 499; see also p. 170, 475, 492.
INCOME ACCOUNT.
1889-90.
1887-88.
1888-89.
Receipts—
1886-87.
Cross earnings........... $2,431,381 $2,629,536 $2,881,474 $3,173,431
$1,070,918
$710,392
$934,781
■Slot earnings............... $637,713
Disbursements—
$480,000
$480,000
$480,000
Int. on 1st mortgages. $480,800
172,127
165,000
165,000
R ent to St. L. & C.......
128,863
232,925
£nt. on general mort.....................
93,504
59,918
73,752
Snt. on car trust, & c...
26,729
Total disbursem’ts $636,392
$704,918
$718,752
$978,556
Expended for additions to property and new equipment (not included
■fn operating expenses) in 1886-87, $288,151; in 1887-88, $375,479; in
1888-89, $160,198; in 1889-90, $208,481. (V. 49, p. 113, 6 8 8 , 825; V.
5 0 , p. 107; Y. 51, 170|, 4 7 5 , 4 9 2 , 4 9 9 , 787, 830; Y. 52, p. 164, 203.)
other lines, 14 miles; total operated, 136 miles. In 1868 leased in per"
petuity to the Delaware Lackawana & Western RR., the lessees assum
ing all liabilities and paying 7 per cent per annum on the capital stock.
They also agree to pay 8 per cent in case 10 per cent is earned on the
stock in any one year. Bonds maturing August 1 will be paid in cash
at the Farmers’ Loan & Trust Co., or such holders as desire can take
new consolidated bonds at a premium in exchange. It is said only
enough consolidated bonds will be issued to provide for these ex
changes. The Morris & Essex is important to the Delaware Lacka
wanna & Western as a route with terminal facilities on New York Har
bor, 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; in
1883, $1,104,218; in 1884, about $1,100,000; in 1885 and 1886,
about $900,000. In 1889, gross earnings of road proper (119 miles)
were $4,921,636; net, $1,274,512. (V. 52, p. 280, 350.)
N ashua Sc L o w e l l . —Owns from Lowell, Mass., to Nashua, N. H.,
15 miles. On October 1,1880, a lease for 99 years to the Boston &
Lowell was made. In 1887 lease was transferred to Boston & Maine
Railroad Company, which pays a rental of $73,000 (9 per cent on stock).
The funded debt of $300,000, principal and interest, is assumed by the
lessee, and the lessor holds the lessee’s notes for the same amount—
$300,000. (V. 45, p. 143.)
N ashville Chattanooga & St. L o u is.—(See Map.)—Owns from
Chattanooga, Tenn., to Hickman, Ky., 320 miles; branches to Lebanon.
&c., 332 miles; total operated June 30,1890, 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. The Jasper brancli will also be extended 20 miles and consol
idated 5s will be issued for both lines. The Western & Atlantic, 138
miles, has been leased for 29 years from December 27,1890.
In July, 1891, an increase of 50 per cent in the capital stock ($3,331,387) was offered to stockholders at 50, the proceeds to retire $500,000
Government bonds due Junel, 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.
Of the consolidated mortgage of 1888 (United States Trust Co., trus
tee), $10,8d7,000 bonds were reserved to retire all prior bonds.
Dividends since 1880—In 1881, 3 ; in 1882, l 1^ ; in 1883 and 1884,
2 ; in 1885, nil; in 1 8 8 6,1 ; in 1887, 4 ; in 1888, 4Li; in 1 8 8 9 ,5 ; in
1890, 5 ; in 1891, January 26, 11*; May 1, l i t ; Aug. 1, It*.
Fiscal year ends June 30. The report for 1889-90 was in C h r o n i c l e ,
V. 51, p. 415.
INCOME ACCOUNT.
1887-88.
1888-89. 1889-90.
1890-91.
$
$
$
$
Total gross earpings........ 3,091,653 3,300,165 3,550,460 3,943,304
Net in c o m e ................... 1,321,404 1,348,721 1,430,414 1,619,581
Tyi,sth'nv8C,wi€n'its—
Interest on debt and taxes
760,834
869,696
873;388 914,799
Dividends.......................... (4)266,741 (5)333,426
333,427 333,427
Improvements.................
145,015
• 60,903
85,881
142,617
M o n te r e y Sc M e x ic a n G u lf.—(See Map.)—Owns road completed
In June, 1891, from Venadito (on the Mexican International Railroad)
via Monterey to Tampico, on the Gulf, about 400 miles. An extension
from Venadito to Sierra Mojado is soon to be built. At Monterey three
large smelting works are in course of construction, and at Tampico the
Government is making a deep water harbor, and large shipments of
bullion it is expected will go over the new road from Monterey to Tam
pico for export. The Central Trust Company of New York is trustee of
ih e mortgage. Sinking fund after November 1,1898, but bonds cannot
b e diawn. The Mexican Government gives this road" a subsidy of
$14,222 per mile in 6 per cent silver bonds. Stock $100,000. From
January 1 to June 30, 1891 (6 months) gross earnings on 312 miles
were $436,070, against 162,249 on 128 miles in 1890. In 1890 on 242
"miles gross earnings were $420,867; net, $284,018; interest, $266,782;
¡surplus, $17,236. General Trevino, President, Mexico; T. S. Bullock,
Vice-President, 40 Wall Street, New York. (V. 48, 764; V. 49, p. 300,
•540; V. 50, p. 71, 484, 662, 904; V. 52, p. 863.)
M on tgom ery Sc E u fa u la .—Owns Montgomery to Eufaula, Ala.,
Total disbursements.. 1,172,590 1,264,025 1,292,696 1,390,843
*80 miles. Foreclosed May 1,1879, and re-organized. Operated under Balance, surplus...............
148,814
84,696
137,718
228,738
contract by Central of Georgia, and interest paid by the rental. Stock
?fs $620,000, all owned by Central Railroad of Georgia. In year ending —(V. 50, p. 107, 245, 353, 391, 560, 735, 771, 874; V. 51, p. 22, 207,
345, 41 5 , 570, 609; V. 52, p. 40, 832, 899; V. 53, p. 21, 95.)
June 30,1890, gross earnings, $364,169; net, $128,732.
N ashville Sc D ecatu r.—(See Map Louisville <£ Nashville.)—Owns
M on tgom ery Tu scaloosa Sc M em p h is.—(See Map Alabama from Nashville, Tenn., to Decatur, Ala., 119miles. The road was leased
Midland.)—Under construction from Montgomery, Ala., on the Alabama May 4,1871, to the Louisville & Nashville Railroad for 30 years from
Midland, to Artesia, Miss., on the Mobile & Ohio and the Ulinois Central, July 1,1872, at a rental of 6 per cent per annum on the stock. The
1.83 miles, to be completed in July, 1891. Mr. J. W. Woolfolk, Presi lessee assumed all the debt of the Nashville & Decatur Company, and
dent, 45 Wall Street, New York.
owns $785,300 of its stock. In 1887-88 gross earnings, $1,294,800;
$473,450; surplus over interest and dividends, $182,123. In year
M organ ’ s L ou isian a Sc T exas R a ilro a d Sc Steam shipC om - net,
m an y.—(See Map>o f Southern Pacific Company.)—Owns from New Or ending June 30,1889, gross earnings were $1,295,379; net, $435,476.
leans to Cheneyville, 204 miles; branches, 55 miles; trackage CheneyN ashville Florence Sc Sheffield.—(¿fee Map Louisville <£ Nash
ville to Alexandria, 24 miles; total, 283 miles. In February, 1883, the
from Columbia, Tenn., to Florence, Ala., 79 miles, with
«took was mostly purchased for the Southern Pacific Company, which ville.)—Owns
branch
Iron City, Tenn., to Pinckney, Tenn., 12 miles, and has trackage,
o n January 1,1891, held $4,994,000 of the total $5,000,000 (par, $100) Florence
to
Sheffield
(Memphis & Charleston Railroad), 6 miles; total,
Operated under lease to Southern Pacific Co., the lessee naying all 97 miles. Operated by
Louisville & Nashville, which company guaran
-charges and also 23 per cent of the net profits under the omnibus tees
the
principal
and
interest of the bonds by endorsement, and owns
-lease. Company has 17 iron steamships plying between New $565,000 of the $708,585
par $100. In year ending June 30,
York and New Orleans and between Gulf ports; also wharves, ware 1890, gross eammgs werestock,
$244,021; deficit, $6,527; interest, &c.,
houses and a majority interest in the capital stock of the Houston & $91,727;
total
deficit,
$98,254.
President,
M. H. Smith, Louisville, Ky.
Texas Central Railway Company, &c. There are also $249,002 New
Orleans Opelousas & G. W. 5 per cent bonds, due April 1, 1899,
N
ashville
Sc
K
n
o
x
v
ille
.—Owns
from
Lebanon to Cookville, 50
assumed. Dividends in 1888, 2 per cent; in 1889, n il; in 1890, nil.
in operation; and under construction to Glen Alice on Cincinnati
From January 1 to May 31, 1891 (5 months), gross earnings were miles
Railroad. Stock is $500,000; par, 100. Trustee of mortgage,
"$2,221,170, against $2,109,656 in 1890; net, $501,858, against $601,- Southern
908. For year 1889, gross, $5,366,666; net,”$1,739,295. In 1890 gross' Mercantile Trust Co. of New York. A. E. Crawford, New Castle, Pa.
Naugatuck.—
Owns from Naugatuck Junction, to Winsted, Conn.,
$5,703,369, net, $2,012,491; surplus over charges $1,196,044; net
56i2 miles; leased, Watertown & Waterbury Railroad, 4*2 miles; total
profits due company under lease to Southern Pacific $565,799.
operated, 61 miles. Leased for 99 years from April 1,1887, to New
M orris & E ssex.—('¿fee Map o f Delaware Lackawana <6 Western.)— York New Haven & Harlem at $206,000 per year, earnings being in
Owns from Hoboken, N. J., to Phillipsburg, N. J., 85 miles; branch, cluded in those of the lessee. In year ending September 30,1887, gross
Denville, N. J., via Morris & Essex Tunnel, to Hoboken, N. J., 35 mile?; earnings were $725,828; net, $246,664. In 1885-1886, gross, $704,336;
teases: Morris & Essex Extension RR. into Paterson, N. J., 2 milef; net, $221,522.
BOKDS
AND
STOCKS
RAILROAD
JCLT, 1891.j
9 3
INVESTORS’
SUPPLEMENT.
[V ol . LU I,
Subscribers w i ll con fer a great favor by g iv in g Im m ediate notice o f an y error discovered In these T ables.
Bon ds—Princi
INTEBEST OB DIVIDENDS.
RAILROADS.
pal,When D ueMiles Date Size, or
Amount
«„p
Stocks—Last
Where
Payable,
and
by
When
Par
of
For explanation of column headings, Ac., see notes of
Outstanding
Whom.
Dividend.
Payable
Value.
Boad. Bonds
on first page of tables.
Nesguehoning Yal.—St’k, 5 p.c. gu. till 1904.L.C.AN.
Nevada Central—IstM . g., income (sinking fund)..
Newark <6Hudson—1st mortgage........................... o
Newark Somerset <6 Straitsv.—IstM ., ext. in 1889.0*
Newburg Dutchess <&Connecticut—Income bonds..r
New Castle & Beaver Talley—Stock............................
New Haven & Derby—2d mortgage (now 1st) guar.c*
Consol, mortgage for $800,000, interest guar, .o’1
Mortgage on Huntington Branch................. .........
Funded coupon certificates.....................................
Beal Estate Certificates..................................... - - -N. Hav.<& Norihamp.—St’k, gu. 99 yrs.N.Y.N.H.AH
1st mortgage..............................................- ...........c .
Consol, sink, fund $15,000 per year not drawn.c
Northern Extension bonds..................... ..............
Bonds convertible into stock— , ........... ....... . - -®
Holy. & W., leased, 1st & 2d M. ($200,000 gu.) .c*
New Jersey Junction—1st. M., guar, by N.Y.Cent.c&r
New Jersey & New York—1st M. (reorganization).c
2d mortgage............................................................. :
New London Northern—Stock....................................
______ ____mortgage ($300,000 are 4s)...........c
Newport News <ê M ississippi Talley—Stock.............
New Orleans <6 Gulf—1st consol.mortgage, gold ..c
New Orleans é North Eastern—Prior lien mort— c
1st mortgage.................................. ....................- - N. OrVns &North West’n—l stM. ,$20,000 p.m. ,g. ,c*&r
N. Y. Brooklyn tè Man. Beach—N. Y. &M.B. 1st M..c
N. Y. B. & M. B. 1st con. M., gold, guar, by L. I.c’
New York <£ Canada—lstM.ster.,guar.D.&H.,Can.c
$50 $1,418,600
2*2
750.000
1,000
5 g*
1888
250.000
7
1,000
1871
800.000
1869 500 Ac.
1,164,500
? g'
1877
10
700.000
” 50
15
7
225.000
13 1870 500 Ac.
5
575.000
1,000
13 1888
6
71,900
4 1888
6
480.000
1888
6
225.000
1888
1
2.460.000
100
7
1.300.000
1,000
92 1869
1.200.000
6
1,000
1879
5
700.000
1,000
27 1881
700.000
5
1,000
1886
4 A6
260.000
1,000
" 17 1870
4
1.700.000
1,000
5 1886
6
400.000
34 1880 500 Ac.
5
100.000
34 1885
1.500.000
1%
Too
121
7
387,500
100 1872 500 Ao,
1.112.000 4 A 5
1,000
121 1880
100 13,694,490
1,000,000
1,000
6 g.
*66 1886
1, 120,000
1,000
6 g.
196 1885
5.000. 000
6
196 1881
1,540,000
1,000
5 g.
1890
77
7
500.000
14 1877 500 Ao.
867.000
5 g.
1,000
1885
All.
4.000.
000 6 g150 1874 Æ100 Ac
18
94
5
44
S. Phila., 226 So. Third St.
No coupons paid.
J.
S. N.Y., L. E. A West. BB.
N. N. Y., Union Trust Co.
When earned.
Newcastle, Pa.
Q .-J .
F. A A. Bridgeport, Ct., Office.
M. A N. N. Y.,Hous.BB. A B’g’pt.
Bridgeport.
A A.
A A.
do
A A.
New Haven,
A. A O.
do
J. A J.
do
A. A O.
do
A. A O.
do
J. A J.
A. A O. N.Hav.,N.Tradesm’sBk.
F. A A. N. Y. Cent. A Hud. Biv.
M. A N. N. Y., Mercantile Tr. Co.
do
do
J. A J.
New London, Office.
Q .-J .
J. A D. N. Y., Bk. of No. Amer,
do
do
J. A J.
M.
J.
M.
M.
A
A
A
A
M.
A.
J.
J.
J.
A.
M.
A
A
A
A
A
A
A
N. May,’ 89, last coup, paid,
O. N. Y., Central Trust Co,
.......
J.
J. |N. Y., Central Trust Co
J. IN. Y., Corbin Bank’g Co.
0.1
do
do
N. London, Baring Bros.
Mch. 1, 1891
July 2, 1938Sept. 1, 1901
Nov. 1, 1929“
June 1, 1977"
May 5, 1891
Feb. 1, 1900”
May 1, 1918”
1900
Feb. 1, 1900*
1900
April, 1891
Jan., 1899
Apr. 1, 1900*
Apr. 1, 1911
July 1, 1896”
Apr.’98 A 1911
Feb. 1, 1986May 1, 1910Jan. 1, 1986
Apr. 2, 1891
July, 1892
July, 1910
Nov. 1, 1926
Nov. 1, 1915Jan., 1911
Jan. 1, 1940
Jan. 1, 1897
Oct. 1, 1935
May 1, 1904
from 1888 to April, 1891, inclusive, at rate of 7 per cent per annum.
In 1889-90, cor'uany received rentals, $208,810, and interest on im
provements, Ac., $35,564; paid interest, Ac., $82,092; dividend (7 per
cent), $105,000; other expenses, $38,499. Bills payable December 3 1 .
1890, $100,000.—(V. 50, p. 314, 706; V. 51, p. 241; V. 52, p. 391,761.)
N e w O r le a n s & G u l f . —New Orleans south along the Mississippi
Biver to Bohemia, with a branch, 66 miles in all. Default was made?
on coupon due November 1.1889. and road sold in foreclosure March 5 .
1891. See V. 52 p. 391. It is hoped to take the property out o f
receiver’s hands in September, 1891.
From January 1 to May 31, 1891 (5 months), gross earnmgs
were $72,408, against $63,863 in 1890; net, $3,039, against $5,413.
Inl890 gross earnings were $159,190; net, $17,432. In 1889 gross,$182,140; net, $25,889. (V. 50, p. 662; V. 51, p. 4 94; V. 52, p. 391.)
N e w O r le a n s & N o r t h E a s t e r n .— (See Map Cincinnati New Or
leans Texas Pacific.)—Line of road from New Orleans, La., to Meridian,.
Miss.>196 miles. Stock is $5,000,000; par, $100. This road belongs to
the “ JErlanger System,” and $4,320,000 of the stock and $4,900,000of
the $5,000,000 is t mortgage bonds are held by the Alabama New Or
leans A Texas Pacific Junction Railways Company—which see
From July 1,1890, to May 31, 1891 (11 months), gross earnings
were $1,048,910, against $1,103,263 in 1889-90; net, $247,000, against
$311,000. In year ending June 30,1890, gross earnings were $1.219,731; net, $340,804; deficit under all charges, $15,147, against $167,977 in 1888-89. (V. 51, p. 303; V. 52, p. 204.)
N e w O r le a n s & N o r t h w e s t e r n .— Owns from Natchez, Miss.,
^ N e w b u r g D u t c h e s s & C o n n e c t i c u t .— Owns from Dutchess
to
Rayville, La., 77 miles. To be extended to Hamburg, Ark. Stock
Junction, NT Y., to Millerton, N. Y., 59 miles. Reorganized after fore authorized,
$4,500,000—$25,000 per mile; par $100. Natchez Construc
closure in January, 1877. In 1889-90 the ‘ ‘half right of way from
Dutchess Junction to Hopewell Junction, with the partly built road tion Company contractors.
N
e
w
p
o
r
t
N e w s & M i s s i s s i p p i V a l l e y .—This company which
thereon, was purchased for $100,000. In addition to above incomes
there are $150,000 1st mortgage 7s, due in 1907, and $65,000 of 5 is incorporated under the laws of Connecticut, operates under leas»
(till
2136)
the
Elizabethtown Lexington A Big Sandy Railroad from Hun
per cent mortgage notes due $10,000 yearly, Jan. 1,1892, to 1897. In
year ending June 30,1890, gross earnmgs were $183,518; net, $45,- tington, W. Va., to Lexington, Ky., 139 miles, and (till 1936) the
Chesapeake
Ohio
A Southwestern Railroad from Louisville, Ky., t o
773; surplus over charges, $28,379. The common stock is $500,000
and preferred stock $587,450; par $50. John 8. Scliultze, President, 59 Memphis, Tenn., and branch, 398 miles; total, 537 miles. The
WaB Street, New York City. (V. 47, p. 626.)
| „
, lessee is to pay fixed charges so far as net earnings suffice, ana
N e w C a s t le & B e a v e r V a l l e y .— Owns from Homewood, Pa., to any surplus earnings up to 6 per cent are to be divided!
New Castle, Pa., 15 miles. Leased to Pitttsburg Fort Wayne A Chicago between the lessor companies, the excess thereafter to b e
Railroad for 99 vears at a rental of 40 per cent of gross earnmgs, and retained by the lessee. On January 1, 1891, the company
lease assumed by Pennsylvania Company. Dividends since 1880 owned $5,708,700 Chesapeake Ohio A Southwestern common and.
have been—in 1881, 24 per cent; in 1882, 14 per cent; in 1883, $3,511,600 preferred stock; $1,055,500 Elizabethtown Lexington A Big
29 per cent; in 1884,19 per cent; in 1885,10 per cent; in 1886 and Sandy Railroad stock; $3,135,936 Chesapeake A Ohio common, $244,736
1887, 6 per cent each; in 1888 and 1889,10 per cent each; m 1890,11 first preferred and $1,510,400 second preferred stock. On the same
per cent; in 1891, Jan. 2, 3 per cent (quarterly); Feb., 10 per cent ex date there was due from the Ches. Ohio A S. W., as per balance sheet.
tra; April, 3 (quarterly); May, 10 (extra). Gross earnings m 1890, $271,. $935,429, and from the Eliz. Lex. A Big Sandy $46,853. See balance
804; net, $121,869; rental received $108,721, against $98,682 m 1889. sheet in V. 52, p. 607. Central Pacific owns $1,680,000 of the stock.
Offices of company, No. 23 Broad Street and New Haven, Conn.—(V. 4 8.
N e w H a v e n & D e r b y .— Owns from New Haven, Conn.j to Ansonia, Conn., 13 miles, and extension to the Housatonie Railroad at p. 5 8 9 ; V. 50, p. 559 ; V. 52, p. 607.)
N e w Y o r k B r o o k l y n & M a n h a t t a n B e a c h .— From Fresh
Huntington, 4 miles. Leased to the Housatonie for 99 years from
July 9, 1889, the rental being guaranty of interest on bonds and Pond Junction to Manhattan Beach, and branches to Bay Ridge Mid
funded coupon certificates, and 2 per cent on stock till July, Greenpoint, 20 miles. This was a consolidation August 27, 1885.
1892, then 3 per cent tUl July, 1895, and 4 per cent thereafter. Leased for 99 years from May 1,1882, to the Long Island RR. Co. at
Dividends are paid directly to stockholders in semi-annual instalments 35 per cent of gross earnings, but the rental guaranteed to be at least
$95,980 in each yea r; 1st consolidated bonds are endorsed by Long
January 10 and July 10. Stock is $470,000; par, 100.
Island Railroad on application. Stock is $350,000 common and
N e w H a v e n & N o r t h a m p t o n .— Operates from New Haven,
non-eumulative preferred (par, $100). Dividends on preferred
Conn, to Conway Junction, Mass., 95 miles; branches—To Williams $650,000
1886 to 1890, both inclusive, 5 per cent per annum, paid semi
burg, Mass., New Hartford, Conn., Turner’s Falls, Mass., Tariffville, from
April and October, by Long Island Railroad Company. The
Conn., 32 m iles; leases—Holyoke A Westfield RR.10 m iles; total, 137 annually,
consolidated mortgage of 1885 is for $2,000,000; trustee is Central
miles In June, 1887, leased for 99 years to the New York.New Haven Trust Company. In year ending June 30,1890, rental was $109,750;.
A Hartford at 1 per cent on stock till April, 1890; then 2 till April, deficit under interest and dividends, $878. (V. 51, p. 494.)
1893 • then 3 till April, 1896, and 4 afterward. Interest on bonds is
N e w Y o r k & C a n a d a .—Owns from Whitehall, N. Y., to Rouse’s
guaranteed. Earnings are included in the earnings of the lessee. The
Holyoke A Westfield has paid annual dividends since 1879. Its first Point, N. Y., 113 miles; branches to Baldwin, Ausable and Province, 37
miles;
total operated, 150 miles. Leased in perpetuity and virtually
mortgage bonds due April 1,1911, are guaranteed principal and interest
owned by the Delaware A Hud. Canal Co., which guarantees the bonds,
by the New Haven A Northampton.
and
has
$3,921,026 invested in it. The stock is $4,000,000; par, $100.
N e w J e r s e y J u n c t i o n . — Terminal road through Jersey City,
From July 1, 1890, to March 31,1891 (9 months), gross earnings
Hoboken and Weehawken, connecting the trunk lines terminating at
were
$807,712,
against $780,491 in 1888-89; net, $205,173, against
those points; length about 5 miles. Leased for 100 years from June
30 1886, to the New York Central A Hudson River BB. Co., which $339,292; deficit under charges $22,730, against surplus of $114,374.
In
year
ending
June
30,1890, gross, $1,114,870; net, $391,757. (V. 50.
company guarantees the bonds absolutely. The mortgage is for
$4,000,000.
^
-wt -r ^ p. 245, 707; V. 51, p. 207, 681; V. 52, p. 280, 762.)
N e w J e r s e y & N e w Y o r k . —Owns from Erie Junction, N. J., to
N e w Y o r k C e n t r a l & H u d s o n B i v e r . — (See Map)—Ownsr
Gamerville, N. Y., 29 miles; branches to New City, etc., 5 miles; oper from New York City to Buffalo, N. Y., 442 miles; branches on N. Y.
ates to Haverstraw, etc., 14 miles; total operated, 48 miles. Reorgan Central division, 377 m iles; total owned, 819 miles; lines leased—West
ized after foreclosure in April, 1880. Stock outstanding, $1,440,800 Shore RR. 426 miles, and branches, 22 miles; Troy A Greenbush, 6 miles;
common; $787,800 preferred; par, $100. Control of road is with pre Spuyten Duyvil A Port Morris, 6 miles; New York A Harlem, 136 miles;
ferred stock and first mortgage bonds till 6 per cent dividends have been New Jersey Junction, 5 miles; total, 688 m iles; grand total, 1,421 miles.
naid on preferred stock for three years. Gross earnings in year ending The second track owned and leased is 897 miles; third track, 319 miles;
June 3071890, $253,149; expenses, $205,230; net earnings, $47,919; fourth track, 297 miles; turnouts, 907 miles—making a total of 2,607
surplus over charges, $4,374. Henry W. De Forest, President.
miles of track owned by the company and 1,233 miles leased, 3,841
N e w L o n d o n N o r t h e r n .— Owns from New London, Conn., to miles in all. Also operates the Dunkirk Allegheny Valley A Pittsburg
•Rrnttiehoro Vt.. 121 miles. Leased till December 1, 1891, to the Railroad, 104 miles, reported separately.
In January, 1891, leased the Beech Creek Railroad, (which see) 131
Central Vermont, the rental being $155,000 for the 100 miles New
-r__+„
Wniis;Falls;
*30.000
for the
Miller’
s Falls
to
LondonTtmiAi-’a
to Miller’s
$39,000
for 21
themiles
21 miles
Miller’
s Falls
to miles, and in March, 1891, leased the Rome Watertown A Ogdensburg'
, „
Brattleboro; the interest on advances by lessors for permanent Railroad (which see), 643 miles.
In April 1891, a traffic arrangement was made with the Canadian
improvements ($33,706 in 1889-90); $12,000 for Brattleboro A White
hall Railroad; making total for 1889-90 $239,706. Negotiations Pacific RR. Co., by which that company upon the completion of a new*
are in progress for an extension of the lease. Dividends sincel876— bridge over the St. Lawrence at Brockville, Canada, will run its trains,
In 1877, 6 ^ per cent; from 1878 to 1886, inclusive, 6 ; in 1887,6*3i to New York City over the West Shore tracks. See V. 52, p. 534.
N e s a u e h o n l n g V a l l e y .— Owns from Nesquehoning Junction, Pa.,
to Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa-’ ^°+^ a?H°T^’w j5
1 mile; total operated, 18 miles. Leased for 999 years„p0,
Coal A Navigation Company. In September, 1884J k e 1+ea®®^ 8 “ 0t^ie
7t d so as topav5 per cent a year only, and the option to purchase xne
stock at par and interest was suspended for 20 years, with a guarantee
of 5 per cent per annum on stock.
Nevada C en tral.-B attle Mountain to Austin, 94 miles.
Stock
SB750.000: par, $100. Road sold in foreclosure June 21,1887. ADove
bonds were issued in exchange for $750,000 old firsts. Gross earnings
in 1889-90, $37,670; deficit under operating expenses, $2,318.
N e w a r k & H u d s o n . — Owns from Bergen Junction to Newark, N.
J., 6 miles. Leased to New York Lake Erie A Western at a rental of
$17,500 per annum. Erie pays interest on bonds auAm OuAesearnings
Si its own statements. In 1889, gross earnings, $79,528. Cortlandt
Parker, President, Newark, N. J.
N e w a r k S o m e r s e t & S t r a i t s y i l l e — Owns from Newark, O., to
Shawnee, O., 44 miles. Leased to Baltimore A Ohio till November 1,1929
(with right to perpetual renewal at B. A O’s option) at 30 per cent of
gross earnings and a minimum rental of $40,000 (interest on debt).
Stock, common $795,400, and preferred, $218,200 (par both, $50),
$705,550 of the first and $191,850 of the latter beingpwned by the
Baltimore A Ohio. In 1889-90 gross earnings were $178,583; net,
$16,124; loss to lessee, $43,890, against $37,762 in 1888-89. (V. 49, p.
BONDS
AND
STOCKS
RAILROAD
J uly , 1891.]
INVESTORS’
94
SUPPLEMENT.
[V ol.
LUI.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v in g im m e d i a t e n o tic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due,.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
Par
per When
of
For explanation of column headings, &c., see notes of
Outstanding Rate
Dividend.
Whom.
Payable
Value.
Cent.
Bonds
Road.
on first page of tables.
New York Central A Hudson River—Stock..............
Debt certificates (N. Y. Central) ext. 10 y’rs 1883
N. Y. C. & H., 5 $30,000,000 ) C0U1)0n orreK 5
m ortgage... i £2,000,000 5 coupon or reg. ^
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. Chicago A St. Louis—1st prer. (5 p. c. non-cum.)
1st mortgage gold, sinking fund not drawn...... c*
N. Y. <&Oreenwood Lake—1st and 2d mort., income
N. Y. A Harlem—Com. and pref.stock, 8 p.c.,N.Y.C.
Consolidated mortgage, coupon or registered..c*
N. Y. Lackawanna <£ Western—Stock, guar. 5 p. ct.
1st mortgage.................. —...................................c*
2d mortgage, guar, by Delaware Lack. <&West.c*
Terminal Improvem’tmortgage, (for $5,000,000).
New York Lake Eric & Western—Stock, common---Preferred stock, not cumulative.............................
N.Y. <fcE. 1st M. ,Piermont to Dunkirk,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*
5th mortgage, extended in 1888 at 4 p. c., gold.c*
Erie R’y ,ls t M.,Buff. Br. Homellsv. to Attica, g.c*
1st consolidated mortgage, gold, $ & £ ..........c*
840
840
513
40
151
132
214
200
200
446
446
446
465
465
60
526
$100 $89,428,300
1853 500 <fcc. 6,450,000
1,000 30,000,000
1873
1,000
9,733,333
1873
1884-9 l.OOO&c 11,000,000
l,000&c
8,500,000
1890
100
5.000,000
1,000
19,681,000
1887
2,700,000
1878 100 &C.
50 10,000,000
1,000 12,000,000
1872
100 10,000,000
1,000 12,000,000
1880
5,000,000
1,000
1883
2,850,000
1890
Too 77,404,900
100
8,536,600
1,000
2,482,000
1847
1,000
2,149,000
1879
1,000
4,617,000
1853
1,000
2,926,000
1857
709,500
1858 50Ó «fee.
182,600
1861 100 «fee.
1,000 16,891,000
1870
O r g a n i z a t i o n , & 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 spe
cial law of April 2,1853. The Albany & Schenectady Railroad, opened
September 12,1831, as the Mohawk & Hudson, was the first railroad
built in the State of New York. The West Shore Railway was leased in
December. 1885, for 475 years. The Rome Watertown & Ogdensburg
was leased in perpetuity in March, 1891, its debt being assumed and 5
per cent guaranteed 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 Y. 52, p. 570.
Stock and B onds.—The famous scrip dividend of 80 per cent on the
capital stock of the New York Central was made in December, 1868,
and on the consolidation with the Hudson River Road (November 1,
1869,) a further dividend of 27 per cent was distributed on the New
York Central stock and 85 per cent on the Hudson River stock. In No
vember, 1879, 250,000 shares ($25,000,000) were sold to a syndicate of
bankers by Mr. W. H. Vanderbilt at the price of 120, and 100,000 Shares
sold afterwards. Under the lease of the West Shore Railway $50,000,000
o f 4 per cent bonds were guaranteed and $10,000,000 West Shore stock
taken as consideration.
.
In June, 1890, $15,000,000 debenture 4 per cents were authorized
for improvements. They are to be included m any new mortgage, and
have a sinking fund of $300,000 yearly—no drawings. See V. 50, p,
834.
Dividends.—From 1869 to 1884, inclusive, 8 per cent per annum; m
1885, 3*2 per cent. From 1886 to 1889, inclusive, 4 yearly; in 1890,
4*2; in 1891, January 15,1 and *2 extra; April 1 5 ,1 ; July 15,1.
Price of stock.—In 1 880,122®1553s; in 1881, 13014®155; in 1882,
1235r® 138; in 1883, l l l ^ ® ^ ^ ; in 1884, 83i2@122; in 1885, 81%®
lO ?3^; in 1886, 98%® 1173s; in 1887,101%®1145s; in 1888,1 0 2 i2 ® lll;
in 1889, 30478 ® U 0^2; in 1890, 9 5 ^ 'W lll; in 1891, to July 17
inclusive, 99L>,®I041o
O p e r a t i o n s , F i n a n c e s , &c.—The New-York Central & Hudson River
Railroad has an exceptionally rich local traffic, but the profits also de
pend very much upon harmony among the trunk lines.
Year ends June 30. Report for 1889-90 in V. 51, p. 437, 455. In the
following the figures for 1890-91, which are partly estimated, include
the Rome Watertown & Ogdensburg §ince March 15,1891. (See article
V. 53, p. 6.)
E A R N IN G S A N D E X PE N SE S.
1888-89.
Gross earnings................... $35,441,096
Oper, exp., includ. taxes... 23,885,801
1889-90.
$37,008,403
24,492,130
1890-91.
$37,780,313
25,252,807
Net earnings........................ $11,555,295
67-39
P. c. of oper. exp. to earns.
$12,516,274
66-18
$12,527,506
66-84
INCOME ACCOUNT.
Receipts—
Net earnings.........................
Rebate on State tax of prior years........
1889-90.
$
12,516,274
111,030
1890-91.
$
12,527,506
12,627,304
12,527,506
Total income................
Disbursements—
4,053,393 ■)
Rentals paid.......................
3,590,535 y
8,860,456
Interest on debt................
209,884 )
Taxes on earnings and capital stock—
Dividends....................... . ......................(412%)4,024,273 (4%) 3,577,132
11,878,085
12,437,588
Total disbursements...
749,219
89,918
Balance, surplus.......... .. - Year
Net Income Diviending Passenger Freight (ton)
Gross
over exp., dends,
Sep.30. Mileage.
Mileage.
Receipts, int.&rents. p.c. Surplus
1886 476,128,729 2,414,266,463 $30,506,362 $4,650,100 4 $1,072,968
1887' 528,308,742 2,704,732,176
35,297,055 5,147,509 4 1,570,377
1888'..559,816,001 2,899,501,504
36,132,920 3,675,118 4
97,986
1889 564,292 588 2,775,582,891
35,696,236 4,166,348 4*2 142,074
1890* 557,727,282 2,973,598,009
37,008,403 4,773,492 4
749,219
* Year ending June 30.
—(V. 50, p. 7, 206, 391, 669, 834; V. 51, p. 21,143, 4 3 7 , 4 5 5 , 458, 646,
876, 910; V. 52, p. 203, 463, 534, 643, 796; V. 53, p. 6, 22.)
N e w Y o r k C h ic a g o Sc St. L o u is .—( See Map o f New York Cen
tral & Hudson River.)—Owns from Buffalo, N. Y., to Hlinois State Line,
512 m iles; leases in Buffalo, l 1^ miles; Illinois State Line to Chicago, 9
m iles; total, 523 miles.
The former Railway Co. was formed m 1881 and became known as
the “ Nickel Plate.” Sale in foreclosure took place May 19,1887, and
the present company was formed in September 1887. The 1st preferred
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 per
cent, non-cumulative; common stock is $14,000,000; par of all, $100.
Lake Shore & Michigan Southern owns $6,240,000 common, $6,275,000
2d preferred and $2,503,000 1st preferred stock. A sinking fund of
$100,000 per year is provided when the net earnings are $900,000 or
1
5
7
6 g.
5
4 g.
3^2
4 g.
6
4
7
114
6
5
4
Q .-J . N. Y., Gr. Cent’l Depot.
do
do
M. <fe N.
do
do
J. <fc J.
J. <fc J. London, Union Bank.
M. «fc S. N. Y., Gr. Cent’l Depot.
do
do
J. «fc D.
do
do
A. & O. N. Y., Union Trust Co.
F. <fc A.
None paid.
J. «fc J. N. Y., Gr. Cênt’l Depot.
M. <& N.
do
do
Q .-J . N. Y., by Del. Lack.<& W.
J. <& J.
do
do
F. «fc A.
do
do
do
do
M. «fc N.
6
7
5 g.
4i2g.
5 g4 g.
4 g.
v g.
M.
M.
M.
A.
J.
J.
M.
N. Y., 21 Cortlandt St.
do
do
& N.
do
do
«fc S.
do
do
<& S.
do
do
«fc O.
do
do
«fc D.
do
do
«fc J.
«fc S. New York and London.
July 15,189®
May 1, 1893=
Jan. 1, 1903:
Jan. 1, 1903
Sept. 1, 1904
June 1, 1905*
Mch. 2, 1891
Oct. 1, 1937"
Nov. 30,190$
July 1, 1891
May 1, 1900July 2, 1891
Jan. 1, 1921
Aug. 1, 1923
May 1, 1923
Jan. 15,
May 1,
Sept. 1,
Mch. 1,
Oct. 1,
June 1,
July 1,
Sept. 1,
1884
1897
1919s
1923
1920
19281921
1920
upwards, if bonds can be bought at or below 102; if not, the sinking
fund lapses for that year, thus leaving $100,000 more for dividends.
The original issue of bonds was $20,000,000, and it has been reduced
to present amount by the sinking fund purchases. See abstract of
mortgage (Central Trust Co. of New York, trustee), V. 45, p. 541.
Dividends—On first preferrred: In 1891, March 2, 3 ^ per cent.
From January 1 to March 31, 1891 (3 months), gross earnings were
$1,570,946, against $1,414,488 in 1890; net, $350,630, against $342,042j.
sumlus over charges, $98,545, against $90,723.
Report for year 1890 was in C h r o n i c l e , V . 52, p. 760. The report
states that the engine and car equipment has received large repairs
and ten new engines have been purchased, which nearly equalizes the?
depreciation to the engine equipment. The track and structures havecontinued to improve. The earnings for the year were $5,820,306, the?
largest in the history of the road—being an increase of $7299,77 over1889. This was caused entirely by increased tonnage and passengers.
The average rate received per ton per mile was '508 cent, a decrease o f
028 cent. The average rate received per passenger per mile was l ^ T
cents, a decrease of ‘19 cent.
1890..
1889
1888.
$
$
$
5,090,329
5,820,306;
Gross earnings.......................... 4,918,217
4,003,544
4,678,251
Operating expenses and taxes. 4,113,824
Net earnings.......................
Net includ’g other income__ _
Deduct—
Interest......................................
Rentals.......................................
Sinking fund.............................
Dividend (3*2) on first pref. ..
804,393
810,813
1,086,785
1,092,175
1,142,054
1,154,828
778,240
81,416
100,000
791,680
81,139
99,954
784,570
87,685
93,748
175,000
1,141,0025
972,773
959,656
sur. 119,402 sur.$13,826:
Balance..... .......................... def.148,843
- (V . 49, p. 6 8 9 ; V. 50, p. 245, 707, 7 6 9 ; V. 51, p. 143, 240, 715; V. 52,.
p. 203, 280, 7 6 0 , 796.)
N ew Y o r k Sc G reenw ood L a k e .—Owns from Jersey City, N. J.,
to Greenwood Lake, 48 miles ; branch to Ringwood, 2 miles ; total, 50*
miles. The New York Lake Erie <fc 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 of $900,000 at 105. Stock, $100,000Due for advances December 31, 1889, $282,000. Gross earnings ia
1890, $224,466 ; net, $9,514 ; taxes, $5,647. Abram S. Hewitt, Presi
dent. (V. 50, p. 8 7 3 .)
N ew Y o r k Sc H a r le m .—Owns from New York City to Chatham*
N. Y., 127 miles. From Chatham to Albany, 24 miles, the Boston <fc
Albany Railroad is used. This company owns the Fourth Avenue street
railroad. The property (except the horse railroad) was leased April 1,
1873, for 401 years to the New York Central <fc Hudson River Railroad
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 Avenue
horse railroad has paid dividends annually in April, viz.: From 1882 to>
1889, inclusive, 2 per cent yearly; in 1890 and 1891, on April 1, 2^
per cent. All operations included in New York Central <fc Hudson. (V51, p. 494.)
N ew Y o r k L a ek a w a n n a Sc W e ste rn .—(See Map o f DelawareLackawanna & Western.)—From Binghamton to Buffalo and Interna
tional Bridge and branches, 214 miles; Delaware Lackawanna & Western has a lease for 99 years, giving a guaranty o f the bonds and 5 pen
cent yearly on the stock (endorsed on the certificates). In 1890 a mort
gage for $5,000,000 4s was authorized to reimburse Delaware Lacka
w a n n a & Western for advances. In 1890 gross, $8,087,853; net, $4,125,894, against $3,562,344 in 1889. (V. 50, p. 703.)
N ew Y o r k L ake Erie Sc W e ste rn .—Main line Jersey City to»
Dunkirk, N. Y., 460 miles, with branches 581 miles; total 1,041 miles..
Owns Piermont, N. Y., to Dunkirk, 446 miles; branches—Newburg,. 19
miles; Buffalo, 61 miles; Newburg & New York Railroad, Vails & GateJunction to Greenwood Junction, 13 miles; small lines (stock owned)*.
10 miles; total owned, 549 miles. Leases—Jersey City to Suffems, N. Y..
(several small roads), 31 miles; Jefferson Railroad, 45 miles; Buffalo*
Bradford & Pittsburg, 26 miles; Buffalo New York«fc Erie, 140 miles; Sus
pension Bridge & Erie Junction, .24 miles ; Rochester <fc Genesee Valley*
18 miles; Avon Geneseo -& MofiJkt Morris, 18 miles; Buffalo & South
western, 66 miles; Northern of New Jersey, 26 miles; other small lines,,
98 miles; total leased, 492 miles; total New York Lake Erie <fc Western,,
1,041 miles. Also leases New York Pennsylvania & Ohio and branches,.
596 miles, and owns the entire stock of the Chicago & Erie*running fromi
Marion, O., to Hammond, Ind., 249 miles, and leasing trackage oversthe Chicago <fc Western Indiana, 19 miles, to Chicago.
O r g a n iz a t io n , L e a s e s , &c.—The New York & Erie Railroad was?
chartered April 24,1832, and opened to Dunkirk April 22,1851. Re
organized as Erie Railway Company in 1861, and sold under the second
consolidated mortgage in 1878 ; reorganized as at present June 1,1878.
The Long Dock Company has stock of $800,000, all owned by the New
York Lake Erie ¿W estern; its property consists of lands and lands under
water, about 577 acres, with piers, buildings, &c. The New York Lake
Erie & Western Coal <fc Railroad Company is an auxiliary corporation.
- from which advances of $1,121,917 are due, as per balance sheet o&
RAILROAD
J uly , 1891.J
STOCKS
AN D
BONDS,
Subscribers w i ll confer a great fa v or by g iv in g im m ed iate notice o f a n y error discovered in these Tables.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per i When
For explanation of column headings, &c., see notes of
of
Par
Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
on first page of tables.
Cent. ¡Payable
Whom.
Dividend.
New York Lake Erie & Western—( Continued.)—
N. Y. Lake Erie & West, funded coupon bonds.c*
1st lien mortgage, sinking fund not drawn, g.c*
2d consolidated and funded coupon bonds— c*
Collateral trust bonds, g., s. f. drawn at 110..C*
- Funded coupon bonds, g. (red. at 105 & int)..c*
Income bonds (non-cumulative)..........................
Car trust bonds, ser. C. to G. inch, partpd. ann.c*
N. Y. Car trust, 1888, ser. A. (guar, by D. & H .)..
Long Dock Co. 1st mortgage................................ c*
Consol, mort., gold ($7,500,000) red at 1 1 0 ...c*
Newburg & N. Y. 1st mort., extended in 1889..c*
N. Y. L. E. & W. Coal &RR. 1st M. gu.,endorsed.c*
N. Y. L. E. & W. Dock & Imp. Co. 1st mort.......c*
N. Y. & Massachusetts—1st mort. (for $2,750,000)..
N. Y. & N. England—Stock ($20,000,000 authoriz’d)
Preferred stock, 7 per cent cumulative.................
1st mortgage ($6,000,000 are 7s)...........................
2d M.,part scaled ($998,000 are 5s till Feb.,1892)
Boston Terminal 1st mortgage............................c*
Rhode Id. <fe Mass. 1st mort for $1,500,000 guar.
New England Equipment Co. 1st mort., gold— c
526
534
12
Ï13
821
321
1878 $500&c. $3,705,977
1878
1,000
2,500,000
1878 50Ó &c. 33,597,400
1882
1,000
3,458,000
1885
1,000
4,029,840
1878 30Ó &c.
508,008
1,000
m
1888
1,000
(?)
1863
1,000
3,000,000
1885
1,000
4,500,000
1868
1,000
250,000
1882
1,000
1,100,000
1883
1,000
4,000,000
1888
1,000
(?)
100 19,777,000
100
2,700,000
1876
1,000 10,000,000
1882
1,000
5,000,000
1889
1,386,000
1890
1,000
Hept. 30,1890; in August, 1890, $3,000,000 of its bonds were guaran
teed principal and interest (by endorsement on bonds), the property
being leased till July 1,1925, at a rental equal to that interest. See V.
51, p. 752, and description o f 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
<on which is guaranteed, Erie receiving for debts due and in
oonsideration of guarantee $2,000,000 o f these lsts, $5,000,000 in• o o m e s and all the $100,000 stock. See C h r o n i c l e , V . 50, p. 621", 752:
Y. 51, p. 911.. Road was turned over to Erie on September 1,1890.
S t o c k a n d B o n d s . —Preferred stock has a prior right to 6 per cent
‘(non-cumillative) from the net profits, “ as declared by the board of
directors,” but the U. S. Supreme Court held in 1886 that this stock has
no legal right to claim a dividend, though net earnings are sufficient.
Dividends since 1876—On preferred stock from 1882 to ¿884, in
clusive, 6 per cent—none since.
Price o f common stock—In 1884, 1118®2838; in 1885, 9%®2778;
in
1886, 22%®383s; in 1887, 24%®355s; in 1888, 2238®30%;
in 1889, 2538'®3078 ; in 1 890,16®2912; in 1891, to July 17 inclusive,
17%®221a.
Price of preferred stock—In 1880, 47®931e; in 1881, 8012®9612 ; in
1882, 67® 88%; in 1883, 72®83; in 1884, 20®71; in 1885,18® 57; in
1886, 50%®8112; in 1887, 59®76; in 1888, 52%®67%; in 1889, 61®
71% ; in 1890, 46®69%; in 1891, to July 17, inclusive, 47%®56%.
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
solidated 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 eoupon bonds of 1885 were issued to fund three
past-due coupons and the coupon of June, 1886, the coupons being de
posited as security. These bonds are redeemable at any time 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 payable at 110 from land sales.
The N. Y. L. E. & W. Coal & RR. Company’s bonds were described in
Y. 52, p. 642. See also above under V Organization, Leases, etc.”
F i n a n c e s , E a r n i n g s , E t c .— On April 1,1891, company’s gross float
ing debt (including charges accrued, etc.) was $7,142,268; bills receiv
able and cash, $3,547,590; net floating debt, $3,594,678 (against
$4,061,560 April 1,1890). Other assets—Supplies, $1,055,817; paid on
-equipment account, $4,107,890; advances to other companies (Chi
cago & Erie, etc.), $5,156,489; total other assets, $10,320,196, against
$11,558,110 April 1,1890;
From October 1 to May 31 (8 months) in 1890-91 gross earnings
were $18,806,228, against $18,769,621 in 1889-90; net, $6,252,866,
»gainst $6,410,297; net, less proportion due roads operated on a
percentage basis, $4,596,865, against $4,705,621. For six months
ending March 31,1891, surplus over charges was $179,426, against
$420,039 in 1889-90.
The annual report for year ending September 30,1890, was published
in the C h r o n i c l e , V. 51, p. 734, 747, 749. The gross earnings include
¡the New York Pennsylvania & Ohio and all the leased lines.
1887-88.
1888-89.
1889-90.
$
•
$
$
Total gross earnings....................... 27,217,989 27,004,406 29,068,935
Proportion paid leased lines.......... 2,385,170 2,409,133 2,614,101
Leaving as gross reven ue.............. 24,832,819 24,595,273 26,454,834
Total operating expenses.............. 18,003,469 17,854,425 19,505,951
Net earnings..................................... 6,829,350
P. c. oper. exp. to total gross earn’s.
66-1454
c o m p a r a t iv e
Credits—
Net earnings............................
Pavonia ferries earnings.......
Interest oh securities.............
Other credit item s..................
1887-88.
$
6,829,350
305,225
391,897
240,719
Total credits..................... 7,767,191
Debits—
Pavonia ferries—expenses....
244,291
Interest on funded debt........ 4,755,882
Weehawken docks—interest..
55,245
Interest on loans....................
46,292
Interest on mortgages, & c...
6,853
Interest on equipment__ ___
272,239
Rentals of leased lines__ ___ 1,212,666
"Taxes........................................
114,862
•Claims of prior years.............
60,416
Other debit items...................
259,602
Total debits.___
Balance, surplus.
6,740,848
66-1167
st a t e m e n t o f p r o f it
7,028,348
738,843
and
6,948,883
67-1024
loss.
460,000
7
6
6
6
5
6
5
5
7
6
5
6
6
5
M. & S. New York and London.
M. & N.
do
do
J. & D.
do
do
M. & N.
do
do
J. & D.
do
do
J. & D. Paid 6 p.c. Jan. 15,1891
Various N. Y., 21 Cortlandt St.
J. & J.
do
do
J. & D.
do
do
g. A. & O.
do
do
J. & J.
do
do
M. & N.
do
do
J. & J.
do
do
A. & O.
g.
g.
g.
g.
g.*
"3%
6 &7
5 &6
4
5
’ 6 g.
M.
J.
F.
A.
&
&
&
&
N. Boston,Of.,244 Fed’l St.
J. Boston, S. Dep. &Tr. Co.
A. Boston, Treas’r’s Office.
O.
do
do
Sept. 1, 1920
Dec. 1, 1908
Dec. 1, 1969
Nov. 1, 1922
Dec. 1, 1969
June 1, 1977
1900, ’02, ’05
$63,000 Jan. 1
June 1, 1893
Oct. 1, 1935
Jan. 1, 1929
May 1, 1922
July 1, 1913
1938
May
Jan.
Aug.
Apr.
1,
I-,'
1,
1,
1891
1905
1902
1939
F. .& A. Boston,OldColonyTr. Co Aug., ’ 91 to ’97
-(V . 50, p. 484, 621, 706, 801; V. 51, p. 206, 207, 569, 734, 747*
7 4 9 , 788, 909; V. 52, p. 280, 390, 642, 681, 762.)
N e w Y o r k & M a s s a c h u s e t ts .—Owns from Poughkeepsie to Bos«
ton Corners, 40 miles. This road embraces the former Poughkeepsie
Hartford & Boston, foreclosed in 1886. Farmers’ Loan & Trust Co.,
trustee of mortgage. The bonds have not yet been issued. Stock
authorized, $2,500,000; par, $100; issued, $1,014,000. In year
1888-89 gross earnings were $67,562; net, $13,384; surplus over
rentals, $7,509. G. P. Pelton, President, Poughkeepsie, N. Y. (V. 47,
p. 626.)
N e w Y o r k & N e w E n g la n d .—Owns from Boston, Mass., to
Hopewell Junction, N. Y., 215miles, (and thence has trackage via the
Newburg Dutchess & Connecticut to a connection with the New York
Central & Hudson River Railroad at Fishkill, 13 miles) Providence, R.
I., to Willimantio, Conn.; 59 miles; branches, Newton, Mass., to
Woonsocket, R. I., 28 miles; East Thompson, Conn., to Southbridge,
Mass., 17 m iles; East Hartford to Springfield, 28 m iles; other small
branches, 13 m iles; total owned, 360 miles. Leases—Rhode Island &
Massachusetts, Franklin to Valley Falls, 14 m iles; Vernon to Rookville,
4 m iles; Franklin to Ashland, 20 m iles; Norwich & Worcester RR.
(which see), 66 miles; Providence & Springfield (which see), 26 miles,
and Woonsocket & Pascoag, 11 m iles; total leased, 141 m iles; »Uo has
running arrangements over 24 miles more. Total, 525 miles. O mtrols
Norwich & New York Steamer line. In March, 1891, leased for 99
years the Providence & Springfield, which, with the Woonsocket &
Pascoag Railroad, it began to operate April 1,1891. See V. 51, p. 142 :
V. 52, p. 350.
The former Boston Hartford & Erie Railroad became 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 $1,500,000 bonds of the
Rhode Island & Massachusetts Railroad, to be issued for double-track
ing and extending the line to Providence, to guarantee $1,000,000
Providence & Springfield bonds and to lease the Woonsocket & Pascoag
Railroad. See V. 50, p. 735, and V. 52, p. 350, 428.
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 mort
gages and contract obligations.
The New England Equipment Company’s bonds are not guaranteed,
but they are secured by a first «lien on certain equipment costing
$485,000, and by $460,000 notes of the N. Y. & New England Railroad
Company. The bonds mature as follow s: From August 1, 1891, to
August 1, 1894, $25,000 yearly; August 1,1895 and 1896, $100,000
yearly; August 1,1897, $160,000.
In June, 1891, $600,000 preferred stock was sold at par to pay float
ing debt incurred for construction. The subscriptions for this stock
are payable 50 per cent June 15 and 25 per cent Aug. 1, and 25 per
cent Sept. 1. See statement in V. 52, p. 973.
Dividends on preferred stock have been 7 per cent yearly since its
issue in 1886.
Price of common stocki In 1883, 1 7% ® 52% ;in 1884, 8®171a; in
1885,12%®3934 ; in 1886, 30%®685g 5 in 1887, 34% ® 66; in 1888, 29%
@53%; in 1889, 41%®53%; in 1890, 28®52%; in 1891, to July 17
inclusive, 317s®41%.
From January 1 to March 31,1891 (3 months), gross earnings wer«
$1,345,770, against $1,285,678 in 1890; net, $383,889, against
$401,789; deficit under charges, $58,414, against $15,681.
Fiscal year changed to end Dec. 31. Annual report for year ending
December 31, 1890, in C h r o n i c l e , V. 52, p. 389. The report says:
“ Many improvements have been undertaken since the presentation of
the last report which have resulted in diminishing the operating
expenses as well as increasing the earning capacity of the lines, by
affording better facilities for the handling of traffic, and thereby
attracting business which otherwise would have sought other channels.
The physical condition of the property is now better than ever before,
and is fully up to the standard of what a first-class railroad ought to
be. The rolling stock and motive power of your company have been
fully maintained, and many additions have been made thereto.”
In the following the figures for 1890 are for the calendar year, the
others for years ending September 30.
6,740,848
343,758
432,656
300,090.
1889-90.
$
6,948,883
360,557
454,589
274,870
7,817,352
8,038,899
269,930
4,706,836
55,245
40,484
6,410
314,563
1,206,055
91,802
100,244
251,008
341,627
4,693,021
55,245
164,750
6,787
319,488
1,220,884
119,875
55,692
201,275
7,042,576
774,776
7,178,644
Total disbursements... 1,335,797 1,721,408 1,818,386 1,926;977
128,146
31>4*>1
-^»888
90,187
860.254 Balance, surplus..........
1888-89.
in c o m e a c c o u n t .
1886-87. 1887-88. 1888-89.
1890.
Miles operated....................
405
490
488
488
Receipts—
$
$
$
$
Total gross earnings........ 4,151,917 5,268,408 5,563,408 6,029,125
Net earnings....................... 1,398,175 J,747,816 1,844,575 2,007.857
Other receipts....................
65,768
5,043
3,699
9,301
Total income........
1,463,943 1,752,859 1,848,274 2,017,158
Disbursements—
$
$
$
$
Rentals paid.......................
66,636
353,744
383,272
410,793
Interest, etc........................ 969,620. 999,238 1,013,133 1,043,384
T a x e s ....:........................... 163,566
229,010
251,640
283,800
7 p. c. div. on pref. stock.. 135,975
139,416
170,341
189,000
96
INVESTORS’
SUPPLEMENT.
[V ol. O U .
Subscribers w i ll con fer a great favor by g iv in g Im m ediate notice o f any error discovered In these T a b les.
s —I line:
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When DueAmount Rate per When
Par
of
For explanation o f column headings, &c., see notes of
Where
payable,
and
by
Stocks—Last
Road. Bonds Value Outstanding Cent. Payable
on first page of table.
Whom.
Dividend.
Hew Fork New Haven dk Hartford—Stock..................
Istm ortgage (for $5,000,000)...............................r
Harlem & Portchester, leased, 1st mort. guar.c&r
2d mortgage, guar........................................... c&r
New Fork <&Northern—1st mortgage, gold............. c
2d mortgage, gold (income till Dec., 1891)..........c
New Fork Ontario <6 West.—1st M., g. (red. at 110).c'
Consol. M. ($10,000,000) g., red. at 105 in ’99. .c*
New Fork Penn, eg Ohio—Prior lien, gold, $ & £ . .c*
1st mort., gold (no foreclosure till 1895) $ & £.c*
2d mortgage, incomes, $ & £ ...............................c*
3d fnortgage, 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 mortgage, gold...................... c
N. F. Phila. <g Norfolk—1st M., g., $16,500 p. m. .c*
Income M., non-cumulative, $10,000 per m ile.. .r
N. F. Providence <6 Boston— (Stonington)—Stock___
First mortgage, Providence to Stonington........ c*
1st mortgage (Stonington to New London)........ c*
. Bends f Or $4,000,000..............................................
N. T. & Rockaway Beach—1st M.,g.,end’sed by L. I.c*
Income bonds, non-cumulative............................. r
123
12
12
57
57
320
320
437
437
437
437
1883
1873
1881
1887
1887
1884
1889
1880
1880
1880
1880
1888
1890
17
15
112
112
141
50
12
1887
1889
1883
1883
11
1869
1881
1891
1887
1887
$100 $18,700,000
l.OOO&c 2,000,000
1,000
2,000,000
1,000
1,000,000
1,000
1,200,000
1,000
3,200,000
1,000
3,444,000
$ or &
5,600,000
500 &c.
8,000,000
500 &c. 44,318,000
500 &c. 14,500,000
500 &C. 30,000,000
£100
£225,300
£100
£250,000
15,527,508
250,000
1,000
164,000
1,000
1,848,000
1,000
1,000,000
100
5,000,000
1,000
1,000,000
1,000
300,000
1,000
1,000
—(V. 49, p. 145, 301, 401, 758; V. 50, p. 174, 206, 245, 622, 669; Y. 51,
p. 142, 206, 458, 6 0 8 , 681, 910; V. 52, p. 40, 350, 3 8 9 , 428, 761, 796;
V. 52, p. 3Q3, 940, 973.)
N ew lTork. N ew H a v en Sc H a r tfo rd .—Owns from Woodlawn,
N. Y., to Springfield, Mass., 123 miles; branches to New Britain, Middletown 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 m iles; Hartford
& Connecticut Valley, Hartford to Fenwick, Conn., 46 miles; other lines,
29 m iles; total leased, 367 miles; total operated, 508 miles. The com
pany uses the New York & Harlem Railroad from Williamsbridge into
New York City and pays a large rent therefor.
Dividends o f 10 per cent have been paid regularly since consolidation
in 1872;
Price of stock—In 1885,175®204; in 1886, 204%®223; in 1887, 208
®233; in 1888, 215®244; in 1889, 241®279; in 1 8 9 0 ,2 4 4 ^ 2 7 0 ; in
1891', to July 17, inclusive, 225®271,
Stock authorized, $50,500,000. It may be issued for improvements,
buying stocks and bonds of leased roads, &c. (V. 48, p. 688). In 1889
stock was increased to $18,600,000. In January, 1891, It was an
nounced that the stock would be increased on October 1,1891, by the
issue o f ' 40,750 shares at par to the stockholders of record on March
31, who pay for it $50 a share on July 1 and $50 a share on Octo
ber 1. TneneW stock will not participate in any dividends payable
prior to January 1,1892.
From' July l*; 1890, to March 31,1891 (9months), gross earnings were
$8,487,778, ' against $7,901,419 in 1889-90; net, $2,571,673, against
$2,614,298; surplus over fixed charges, $1,477,454, against$l,588,490.
Fiscal year changed to end June 30. Report for nine months ending
June 30,1890, was in V. 51, p. 456. Reports to New York State Railroad
Commissioners showed the following for years ending June 30:
EARNINGS, EXPENSES AND CHARGES.
1S88-89.
Gross earnings................................................. $10,094,487
Total, net income.........................................:$ 3 ,1 4 6 ,9 3 1
Deduct—
Interest, rentals and taxes............................ $1,470,287
Dividends (10 per cent).................................. 1,550,000
1889-90.
$10,749,167
$3,518,776
$1,615,766
1,705,000
T o t a l................................................. ........ $3,020,287
$3,320,766
Surplus.............................................................
$126,644
$198,010
—(V. 50, p. 245, 736 ; Y. 51, p. 304, 4 5 6 , 494, 681 ; V. 52, p. 121, 280
707; V. 53, p. 95.)
N ew Y o r k Sc N orth ern .—Owns 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 Cortlandt 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 noncumulative preferred 5 per cent stock of $6,000,000 ; par, $100. Trus
tee o f Istm ortgage is Central Trust Co.; of 2d mortgage, Farmers’ Loan
& Trust Co.
Fiscal year will hereafter end June 30. From July 1,1890, to May
31, 4891 (11 months), gross earnings were $437,186, against $527,987
in 1888:90 ; net, $80,161, against $97,086.
For year ending September 30,1890, gross earnings were $536,769;
neti, $88,338; interest paid, $60,000 ; taxes, $15,200; construction ac
cou n t etb„ $14,689.—(V. 50, p. 244; V. 51, p. 458, 681, 7 1 4 ; V. 52,
p. 239» 7ft7,)
NhiV Y o r k O ntario Sc W estern .—f/Stee M ap.) —Owns Oswego,
N. Y ., to Cornwall, N. Y., 273 miles ; branches to New Berlin, 22 miles ;
to Dtelhi, 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
Scrahton, Pat. , 54 miles ; Wharton Valley Railroad to Edmeston, 7 miles.
By'Contract has right over West Shore Railroad from Cornwall toW eehawken, 53 miles, b y payment of trackage ; total operated, 478 miles.
Ektéùsion to Scranton, Pa., 54 miles, was completedin July, 1890.
The New York & Oswego Midland was sold in foreclosure November
14,1879, and this company organized. As to agreement in 1891 with N.
Y. Central, see V. 52, p. 609.
In 1889 the consolidated mortgage (Mercantile Trust Company,
trustee,) for $10,000,000 was authorized—$4,400,000 to be reserved for
rior bonds, the remainder for improvements and the extension to
cranton, The bonds cover the entire road and branches, and $1,500,000 Optario Carbondale & Scranton Railroad bonds and $1,495,000
stock are deposited with the trustee of this mortgage. See circular in
full 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.
Stock iS $58,119,982 (par $100), of which $6,000 is preferred. In
January, 1891, it was proposed to classify the common stock into com
mon and preferred, but no action has yet been taken. V. 52, r. 165.
Price o f stock—In 1885, 6%®207s ; in 1 886,15®223s ; in 1887,14% ®
20% ; in 1888,14® 19 ; in 1 889,14ifi®22% ; in 1 8 9 0,13®22% ; in 1891,
to J u ly 17, inclusive. 15®18%.
From July 1,1890, to May 31,1891 (11 months), gross earnings on
g
(1)
772,000
1,000,000
2%
4
6 &7
4
5 g.
4 g.
6 g.
5 g.
6 g.
7 g.
5 g.
5 g5
5
6 g.
4*2g.
6 g.
6
2^2
7
Q.—J.
J. & D.
A. & O.
J. & D.
A. & O.
J. & D.
M. & S.
J. & D.
M. & S.
J. & J.
M. & N.
M. & N.
M. & N.
J. & D.
New Haven, Co.’s Office.
N. Y., Chem’al Nat. Bk.
do
do
do
do
N. Y., Office, 32 Nassau
1st coup, due June ’ 92.
N.Y., Office, 18 Exch. PI.
N. Y. Office & London.
N. Y., Farm. L. & Tr. Co.
London.
None paid.
None paid.
London.
do
J. & J. N. Y., Farm. L. & Tr. Co.
J. & D.
do
do
J. & J. Phila., Penn. RR. Office.
do
do
Q —F. N. Y., Central Trust Co.
J. & J.
do
do
A. & O.
do
do
July 2, 1891
June 1, 1903
Oct., 1903
June 1, 1911
Oct. 1, 1927
Dec. 1, 1927“
Sept. 1, 1914
June 1, 1939
Mch. 1, 1895July 1, 190$May 1, 1910
May, 1915
May 1, 1909June l j 1910July 1, 1917
June 1, 1919
Jan. 1, 1923
Oct. 1. 1933
May 11,1891
Jah., 1899
Apr. 1, 1901
4
4
5 g. M. & S. N. Y., Corbin Bank’g Co. Sept. 1, 1927
5
Sept. 1, 1927
42j> 5“ Le.8 were $2,537,187, against $2,008,907 in 1889 on 371 miles ?
net, $571,654, against $382,502. For 9 months ending March 31,1891*.
surplus over charges $62,137, against $102,694.
R e p o r t f o r 1889-90 w a s g i v e n i n f u l l i n C h r o n i c l e , V . 52, p . 168.
1889-90.
1888-89.
Miles operated.................................
424
424
Operations—
PasseÈgèrs carried, number..........
628,494
647,841
Passengers carried one mile...........
31,781,378
29,952,249»
Earnings per passenger per m ile...
1609c.
1-861C.
Total tons freight carried one mile
82,311,943
103,883,353
Earnings per ton per mile...............
1-365C.
1-241C.
Earnings—
Passengers.......... ..............................
$511,304
$557,442
Freight........................ .............
1,123,776
1,288,723
Mail, express, etc..............................
91,110
81,001
Miscellaneous....................................
24,632
26,481
Total gross earnings..............................
Operating expenses and taxes.............
$1,740,713
1,472,862
$1,963,750
1,593,999
Balance, net earnings..................................
Per cent operating expenses to earnings..
$267,851
84-61
$369,757
81-17
$270,126
$369,757
$192,000
14,282
1,18(7
....
$203,000
4,212
3,750
12,353
INCOME ACCOUNT.
Total net income...........................
Disbursements—
Interest on 1st mortgage bonds..................
Miscellaneous interest and discount..........
Reptals... I . . . . : : . . .........
Loss on U. C. B. and R. <k C. roads.............
Total.................................... ....................
$207,479
$223,315
Balance, surplus............................................
$62,647
$146,442
(V. 50, p. 1 0 5 , 314, 707, 771, 874,910; V. 51, p. 21, 5 3 8 ,5 6 9 , 572»
788; V. 52, p. 1 0 $, 165,280, 391, 609, 702; V. 53, p. 21.)
N ew Y o r k P en n sy lv an ia Sc O h io.—Owns from Salamanca, N. Y.
to Dayton, O., 388 miles; branches—to Oil City, 34 miles, other
branches. 15 m iles; total owned. 437 miles. Leased lines—Cleveland &
Mahoning Valley Railroad and branches, 124 m iles; Sharon Rail
way (till April, 1981,) Sharon, aPa., 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, reorganized, and again leased to Erie.
The lease to New York Lake Erie «W estern made 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 $lOO,0OO of gross earnings above $6,000,000 until the gross earn
ings 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 to be made up without interest out of theexcess 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 por
tion 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 tobecome absolute not later than July 1,1895, and until July 1,1895,
the right to foreclose the mortgage is suspended. On the second ana
third mortgages (there is no right to sue the company or to foreclose.
Stock is—preferred, $10,000,000; common, $34,999,350; par, $50; the
deferred warrants September, 1890, were $14,333,841. There are
also $65,270 6 per cent car trusts, due 1893.
For year ending September 30,1890, rental received was $2,239,213;
other Income, $20,891; total income, $2,260,104; taxes, etc., $61,129;
interest, $1,257,006; rentals and other charges, $863,253; surplus for
year, $78,716. See V. « 1 , p. 751. (V. 50, p. 632; V. 51, p. 609, 751.)
N ew Y o r k P h ila d elp h ia Sc N o rfo lk .—Operates from Delmar*Del., to Cape Charles, Va., 95 miles, and King’s Creek, Md., to Crisfield»
17 m iles; total, 112 miles. Successor of the Peninsula Railrohd 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 coupons. See V. 47, p. 807. Capital stock,
$1,714,375; par, $100. There is 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.)
N ew Y o r k Providence Sc B o sto n .—Owns from Providence, R- •
I., to New London, Conn, (including the Thames River bridge), 62 m iles;
branches, 18 miles; leases—»Pawtuxet branch road, 6 miles; Providence & Worcester RR. (which see), Providence to Worcester and branches»
50 m iles; total operated 136 miles. Owns a majority interest in the
Providence & Stonington Steamship Line, which has a capital o f '
$1,500,000. Dividends since 1876—In 1877 and 1878, 10 per cent j
from 1879 to 1885, inclusive, 8 ; in 1886, 8*2 ; from 1887 to May, 1891,.
both inclusive, at the rate of 10 per cent per annum. Bills payable;September 30,1890, $255,000.
-RAILROAD STOCKS AN D BONDS
J u l y , 1891.]
IN VEiSTOftS’
98
SUPPLEMENT.
[ Y o l . L IU .
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS
pal,When Due.
Miles! Date Size, or
Amount
Stocks—L a s t
Where
Payable,
and
by
When
1
Par
of
Rate per
For explanation of column headings, &c., see notes of
Whom.
Dividend.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
N. T. Susquehanna Western—1st M.,g.,Mid.of N.J.c*
1st M., Paterson Éxten. and real estate, g ........ e*
1st mort., refunding, gold (2d M on 73 miles). .c*
2d mort. ($1,000,000 gold) 3d M. on 73 miles.. .c*
General mortgage for $3,000,000, gold...............e*
N. T. Texas A Mex.—1st. M.,g.,$ or ¡S.gu.by So.Pac.c*
N orfolk A Carolina—1st mort. for $1,500,000, g.c*
N orfolk A Southern—1st M„ $10,000 p. m., gold....
Albemarle & Pantego 1st mortgage......................
N orfolk A Western—Stock ($34,000,000is Op. o. pf.)
Norf’k &Petersb’g—2dM. (now 1st) Nor.to Pet’g .c
South Side—Consol, mort., 1st prer., extended, .c
Consol. M. 2d pref., gold, extended................... c
Consol. 3d pref., Petersburg to Lynch. & bps. .c
Virginia & Tenn. enlarged M. (extend in. 1884)..c
4th M. Lynchb’g to Bristol and branch, 214 m.c
Norf.& West.Gen.M.,Norfolk to Bristol, etc. g...c*
New River division 1st mortgage, gold..........c*
Improv. & Ext. Mortgage, gold........................ c*
Adjustment M., g. (red’ble after Oct.’94 at 110) c*
Clinch 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 mortgage, for $45,000,000, gold.
Scioto Valley & New England, IstM ., assum.,g.c*
Norf. & West.—IstM. Maryland & Wash Div.,g.c*
1880 $500&c. $3,500,000
6 g- A. & O. N. Y., Nat. Park Bank.
1,000
250,000
1881
6 S- J. & D. N.Y.Of.,15 CortlandtSt.
1,000
1887
3,750,000
5 g. J. & J. N. Y., Nat. Park Bank.
1,000
636,000
1887
4 12g. F. & A. N.Y.Of.,15 CortlandtSt.
do
do
1,000
1890
700,000
5 g. F. & A.
500
1882
1,457,500
4 g. A. & O. N.Y..8.Pac. Co.¡London.
1,000
1889
1,320,000
5 g. A. & O. N. Y., Central Trust Co.
1,000
1891
5 g.
New York.
J. & J.
1887
300,000
6
100 43,500,000 l ^ o n p f . A. & O. Phila., 333 Walnut St.
do
do
1,000
J. & J.
496,000
8
81 1868
do
do
1,000
290,000
5 & 6 J. & J.
133 1868
do
do
270,500 5 g. &6,g. J. & J.
133 1868 100 &C.
do
do
J. & J.
452,800
6
133 1868 100 &e.
1,000
do
do
J. & J.
214 1854
980,000
5
1,000
do
do
J. & J.
214 1866
1,000,000
8
1,000
7,283,000
428 1881
6 g. M. & N. N.Y., Cent.Tr.Co.& Phil.
do
do
1,000
2,000,000
155 1882
6 g. A. & O.
do
do
1,000
5,000,000
583 1883
6 g. F. & A.
do
do
1,000
1,500,000
583 1884
7 g. Q .-M .
do
do
1,000
2,500,000
5 g. M. & S.
105 1887
do
do
4,284,000
1888 1 1,000
5 g. J. & D.
500
do
do
1884
525,000
6
J .1 5 & J 1 5
1,000
d®
do
7,000,000
5 g. J. & J.
971 1889
1,000
do
do
5,000,000
129 1889
4 g. M. & N.
do
do
6,500,000
5 g . J. & J.
255 1891 500 &c.
73
1
134
134
134
91
110
The Legislature of Rhode Island in June, 1891, authorized the com
pany to issue $4,000,000 of 4 per cent bonds, $1,300,000 thereof to be
held to secure the present bonded debt, $500,0O0 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.
Report for 1889-90 was in V. 51, p. 875, showing the follow in g:
Apr. 1, 1910
June 1, 1910
Jan. 1, 1937
Feb. 1, 1937
Aug. 1, 1940Apr. 1, 1912
Apr. 1, 1939“
1941
July 1, 191T
Apr. 23,1891
July 1, 18 9 »
July 1, 1900*
July 1, 1900«
Jan. ’96-1900“
June 30,1900
Mch. 1, 1900
May 1, 1931
Apr. 1, 1932
Feb. 1, 1934
Dec. 1, 1924
June 1, 195T
June 1, 1908Jan. 15,1894
Jan. 1, 1990
Nov. 1. 1989
Jan. 1, 1941
to provide for betterments, extensions, &c., will probably be author
ized. Plan of reorganization, afterwards somewhat modified, was in
V. 50, p. 771. In year ending June 30,1889, gross earnings, $263,366; net income, $79,408.—(V. 49, p. 719; V. 50, p. 771; V. 52, p.
463, 681.)
N orfolk Sc W e ste rn .—(See Map.)—Owns from Norfolk, Va., to
Bristol, 408 miles ; branches—Petersburg to City Point, Va., 10 miles;
Junction 1 to Saltville, Va., 10 miles; short branches, 5 miles; New River
Miles operated.......t..............
Division, Radford to Elkhorn, 84 miles ; Cripple Creek Extension, 30
miles; other, 42 miles), 155 miles; Clinch Valley Division, Graham toGross earnings........................
Norton, Va., and branches, 107 miles; Petersburg to Columbus, O. (for
Net earnings, incl. invest—
merly the Scioto Valley & New Eng. RR.) 131 miles; Maryland & Wash
Disbursements—
$32,186 ington Division, Hagerstown, Md., to Roanoke, Va., 238 miles, and
$101,661
Interest balance......................
$82,814
branches 17 miles; other lines, 18 miles. Total operated January 1 ,
450,000
375,000
Dividends................................
300,000
1891, 1,099 miles. Under construction—Ohio Extension, to Ironton
the Ohio River, 195 miles, and Washington branch, Front Royal to
Total disbursements...........
$382,814
$476,661
$482,186 on
Washington, D. C.,75 miles; other lines, 68 miles. Total o f all, 1,437
Balance, surplus.....................
$338
$158,445
$89,936 miles.
—(V. 49 p. 8 2 3 ; V. 50, p. 245, 706; V. 51, p. 345, 8 7 5 ; V. 52, p. 899^
O r g a n i z a t i o n , E t c . —The Atlantic Mississippi & Ohio Railroad Com
N ew Y o rk & R o ck a w a y B ea ch .—Owns from Glendale Junction pany was a consolidation of Norfolk & Petersburg, South Side and the
to Rockaway Park, 10% miles; trackage to Long Island City, Brook Virginia & Tennessee roads ; it was foreclosed February 10,1881, and
lyn, Far Rockaway, etc., 19 miles; total operated, 29% miles. Stock was reorganized as the Norfolk & Western.
authorized, $1,000,000; outstanding, $937,200; par, $100. Controlled
In June, 1890, purchased the Scioto Valley & New England Railroad,
by Long Island Railroad Company, whose endorsement is printed on (formerly Scioto Valley). When the Ohio Extension is completed thisfirst mortgage bonds. (Formerly New York Woodhaven & Rockaway.) road will afford a through line to Columbus, O. The Shenandoah Valley
In year ending June 30,1890, gross earnings were $211,273; net in RR. was purchased at foreclosure sale September 30,1890. and now
come, $42,206; surplus over interest, etc., $1,788.
constitutes the Maryland & Washington Division. The connection w ith
N ew Y o r k Susquehanna Sc W e ste rn .—(See Map.)—Jersey City the Louisville & Nashville was completed in June, 1891.
to Gravel Place, Penn., 101 miles; Two Bridges, N. J., to Unionville,
S t o c k a n d B o n d s .— Preferred stock is entitled to 6 per cent nonN. Y., 21 miles; other branches, 12 miles; leases—Unionville, N. Y., to cumulative;
$3,000,000 of it (not included in amount outstanding in
Middletown, N. Y., 14 miles; Pennsylvania Railroad trackage in Jersey the table above)
is deposited with trustee of 100-year mortgage. In May
City, 3 miles; small branches, 6 miles; total, 157 miles.
and
June,
1890,
$5,000,000 new preferred was issued. (See V. 50, p~
The New Jersey Midland was sold in foreclosure February 21,1880,
834.) In Dec., 1890, $2,250,000 common and $4,500,000 pre
and the Midland of New Jersey was organized. The New York Susque 735,
ferred
were
issued
for Shenandoah Valley securities. See V. 51, p. 876.
hanna & Western was a consolidation in June, 1881, of the Midland of
In June, 1891, stockholders subscribed to $2,500,000 new preferred
New Jersey and other railroads. The general mortgage 5s of 1890, for stock
at
$52
50
per
share'. See V. 52, p. 718, 832.
$3,000,000, were authorized for new equipment, double-tracking, etc.,
Dividends on preferred stock—In 1882, 4 per cen t; in 1884,
m
$1,000,000 being reserved to retire the same amount of second mort scrip;
in
1888,1*2;
in 1889, 3 ; in 1890, 3 ; in 1891, April 23,1*2.
gage bonds of 1887. See mortgage abstract, V. 52, p. 84. Stock, com
Price
of
common
stock—In
1
883,10®18
;
in
1
884,10'a>121
2
;
in
1885,.
mon, is $13,000,000; preferred (cumulative 6 per cent), $8,000,000; par, 8®137s ; in 1886, 8® 27% ; in 18 8 7,13®233s; in 1888, 1 5 ^ 2 3 % ; in
$100. The New Jersey Midland junior securities were exchangeable into 1889, 14%®2218; in 1890, 13®2478; in 1891, to July 17, inclusive,
stock of this company on certain terms, and the exchanges up to May
4®16%.
1, 1891, left $224,000 of the old stock, $843,000 income bonds and 131
Price of preferred stock—In 1883, 32® 49% ; in 1884,17® 42; in 1885,.
$292,000 scrip not yet exchanged. There are also $6,000 old firsts of
14®34*2; in 1886, 25®593s; in 1887, 34!2® 5578 ; in 1888, 4Ha®5858; »
1911 and $93,500 debentures o f 1897 outstanding.
From January 1, to May 31,1891 (5 months), gross earnings were 1889, 47^® 61% ; in 1890, 48®6638; in 1891, to July 17, inclusive,
4®5712.
$597,605, against $559,707 in 1890; net, $249,981, against $224,722 481
Abstract of Clinch Valley mortgage (Fidelity Insurance Trust & Safe
Report for 1890 was in V. 52, p. 349.
Deposit Company of Philadelphia, trustee) in V. 45, p. 541; the issue,,
INCOME ACCOUNT.
exclusive of $500,000 for equipment, is at $19,000 per mile.
The equipment mortgage of 1888 (trustee Girard Life Insurance Co.
1887.
1888.
1889.
1890.
of Philadelphia) is for $5,000,000, and covers all equipment and rolling
$
$
$
$
Gross earnings................ 1,395,186 1,445,900 1,402,466 1,592,083 stock and all car trust obligations purchased with the proceeds or
Net earnings....................
597,592
595,910
551,438
670,946 bonds issued. There are also $597,110 car trust certificates outstanding,
at various dates.
1=
'
27,159
25,828
33,527
30,401 due
Other income...................
The 100-year mortgage of 1889 (trustee Mercantile Trust Co.) provide»
for the issue of $20,000,000 bonds, plus additional amounts not exceed
Total............................
624,751
621,738
584,965 701,347 ing
$25,000,000 to redeem by purchase or exchange (provided no in
in interest charges be thereby created) prior bonds on the 698
In to e sT ^ rb o n d s............
441,120
441,120
441,120 445,459 crease
miles
built and under construction, which prior bonds must not be in
Rentals..............................
26,494
26,497
26,491
26,446 creased
to exceed $22,825,000 in all. A full abstract of this mortgage
Miscellaneous...................
2,541
2,699
12,955
25,776 was in the
C h r o n i c l e , V. 50, p. 208.
J, __ ■
The
Scioto
& New England mortgage (trustee Central Trust
Total disbursements. 470,155
470,318
480,567
497,681 Co.) has been Valley
limited
to
$5,000,000
and
assumed
by
the
Norfolk
& WestBalance, surplus........
154,596
151,420
104,398
203,666 era. See application to New York Stock Exchange, V. 50, p. 452.
— (V. 50, p.312, 3 5 0 ; V. 51, p. 276, 570; V. 52, p. 84, 349.)
The Maryland & Washington Division mortgage for $10,000,000
N e w Y o r k T e x a s Sc M e x ic a n .—Owns from Rosenberg to Vic was issuedon the Shenandoah Valley Railroad (see V. 51, p. 876),
toria, 91 miles. Stock, $630,040, and Southern Pacific Company owns $2,500,000 bonds being reserved to extend the line to Washington,
all but $22,040 of it. There are also $60,500 sixes outstanding. Is D. C., and $1,000,000 for other purposes.
operated by the Southern Pacific Company, which guarantees the 4 per
E a r n i n g s , E t c . —The strength of this company has been in its local
cent bonds.
From January 1 to May 31 in 1891 (5 months) gross earnings were business.
From January 1 to May 31 in 1891 (5 months) gross earnings on
67,695, against $68,133 in 1890; deficit, $8,750, against deficit 1.071
miles were $3,575,143, against $3,281,560 in 1890 on 1,002
22,953. In 1890 gross, $225,629; net, $12,549; deficit under charges,
net, $1,097,787, against $999,339.
$73,971, against $61,684 in 1889. Floating debt (due So. Pac. Co., miles;
The annual report fqr 1890 was published in the C h r o n i c l e , V. 52,
etc.) Jan. 1,1891, $401,662.
p. 640, 644. (See also article p. 621.) In the report the President
N orfo lk Sc C aro lin a.—Owns from Norfolk, Va., to Tarboro, N. C., remarks as follow s:
101 m iles; branches, 9 miles. Successor to the Chowan & Southern;
“ Your company has now in operation about 1,100 miles of railroad,
name changed in 1889. Opened April 1, 1890. Stock, $1,500,000; and upon the completion of your Ohio and North Carolina extensions
par, $100, all controlled by the Atlantic Coast Line. President. George will have in operation over 1,300 miles; and if ample financial provis
8 Scott, New York city.
ion be made so that your Company may continue to encourage the de
N orfolk Sc Sou th ern .—Owns Berkely, Va., to Edenton, N. C., 74 velopment of the territory tributary to its lines by furnishing necessary
miles; ferry across Albemarle Sound to Mackey’ s Ferry, 9 miles; transportation facilities and rolling stock, not only will the earnings
thence road to Belle Haven, 30 miles; branches, — m iles; total road per mile be maintained, but, making due allowance of time for the de
owned, — miles; ferry, 9 miles. The Norfolk Southern was sold in velopment of newly-opened territory, they will steadily increase. At
foreclosure April 29, 1891, and reorganized as now after consolida no time in the history of your Company have the prospects of increased
tion with the Albemarle & Pantego RR. Co. Capital stock is $2,000,- traffic and revenue been so apparent. In addition to the industrial
000, (par $100,) which was divided among the assenting holders of establishments previously constructed and in operation, there have
the old securities n accordance with the plan. A new first mortgage *been completed during the past year, and are n ow in course of con
INCOME ACCOUNT.
1887-88.
86
$1,303,169
$383,152
f
1888-89.
140
$2,836,424
$635,106
1889-90.
136
$3,088,604
$572,122
BONDS.
AND
STOCKS
RAILROAD
J u l y , 1891.J
loo
JN NESTORS’
SUPPLEMENT.
[V ol. L in .
July , 1891. J
RAILROAD
STOCKS
AND
BONDS.
101
Subscribers w ill confer a great fa v or by g iv in g Im m ediate notice o f any error discovered In tbese T a bles.
RAILROAD8.
Bonds—Princi •
INTEREST OR DIVIDENDS.
Date Size, or
pal, When Due_
Amount
of
of
Par
Rate per! When Where Payable, and by Stocks—LastOutstanding
Road Bondi Value.
Cent. IPayable
Whom.
Dividend.
223
$100 $4,000,000
3
M. & S.
Burlington, N. C.
Mch.
1, 189176 1881
1,090,000
M. & N,
San Francisco,
Nov. 1, 1901
£ g- J. & J.
5 1883
150,000
do
do
Overdue.
88
50
i g- Q.—F. Phila. Of., 240 So. 3d St. May
4,742,950
25,1891
2d m ortgage.......................
56
500 &c.
1,500,000
7
M. & N.
do
do
May 1, 1896:
Gener al mortgage bonds..
4,500,000
7
J. A J.
do
do
Jan.
1, 1903
Bonds secured by $1,200,0
.... 1881
1,200,000
6
M. A S.
do
do
Sept. 1, 1905No. & So. o f III.—lstWLfor $1
.... 1890
5 gm
1940
Northeastern (S. C.)—Stock.
50
900,000
3
J. & J.
Charleston, Office,
July 1, 1891
Î.Ü2 1809
500
820,000
M. & S.
do
do
Sept. 1, 1899’
102 1869
500
322,000
8
M. A S.
do
do
Sept. 1, 1899
1883
1,000
694,000
6 g. J. A J. N. Y., John Paton & Co. Jan. 1, 1933
"83
100
2,997,300
l ^ g Q .-J . Bost.,Conc’d or Leban’n July 1, 1891
Northern California—1st mortgage........................ .
54 1889
945,000
5
J. & D. N. Y., So. Pac., 23 Broad June 1, 1929
Northern Central—Stock................ ........................... .
50
7,518,150
3
!J. & J. Balt.&Phil.,233 S.4thSt July 15,1891
1st mortgage, State of Maryland loan................. . 138
1,500,000
6
Q.—J.
Annapolis.
Irredeemable.
2d mortgage..........................................................e’
138 1865 50Ó &c.
1,126,000
6
A. & O. Baltimore & Philadelp’a Apr. 1, 1900
138 1868
1,000
2,599,000
6 g. J. & J Baltimore, Treas. Office. July 1, 1900
138 1868
1,000
205,000
do
do
6 g. IA. & O.
July 1, 1900
138 1874-5 1,000
2,033,000
6 g. [J. A J. London and Baltimore. July 1, 1904
do
do
138 1876-7 1,000
2,000,000
J. & J. Baltimore, Treas. Office, July 1, 1904
6
g.
do
do
138 1885
1,000
1,320,000
é^ag. 'A. & o.
do
do
Apr. 1, 1925.
2d gen. mort., series
(s. f. $30,OOo yearly).c* 138 1876
1,000
2,676,000
5
J. & J.
do
do
Jan. 1, 1920
ïu gen. mortgage, senes B..................... ........ .. .c 138 1876
1,000
1,000,000
5
J. A J.
do
do
Jan. 1, 1926
Union RR.,l8t<ass’d)$117,000 end. by Balt. City, c”
9 ’67-’70 50Ó &c.
900,000
6
& J.
do
do
Jan. 1, 1895
9 1873
1,000
600,000
M. & N. N. Y., London A Balt. May 1, 1900
21 1887 1Ó0&C.
560,000
I
sJ;
&
J.
Jer.
City,
Hud’n
Co.
Bk.
July 1, 1917
Northern Pacific—Common stock......................... ..
100 49,000,000
Preferred stock (8 per cent, not cumulative)........
100 36,724,794
T
Q.—J.
N.
Y.,
Mills
Building,
July
15,1891
1st M. and Id. gr. Missouri Div., dr’n at par.c*&r 205 1879 100 Ac.
6
M. A N.
do
do
May 1, 1910
1st M. and Id. gr. P. d’Or. Div., drawn at par.e*&r 225 1879 100 &c. ^ 3313,000 ^
6
M. A S.
do
do
Sept.
1, 1910
Gen.lstM. Id. gr., g., $25,000p. m.,dr. a tll0c*& i 2,146 1881 l.OOO&c 44,711,000
do
do
6 g- J. & J.
Jan. 1, 1921
on first page of tables.
s
struction or under contract, 12 blast furnaces, 8 rolling mills, 85 wood
working establishments, 38 foundry, machine works and other iron
works, 151 other industries, 2,600 coke ovens, 9 coal mines, 43 iron
mines and 45 hotels.”
Earnings, &c., have been as follows :
.
„
1887.
1888.
1889.
1890.
Average miles operated.
527
542
591
826
$
$
$
'$
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.....................
P. o. of op. ex. to earn’gs.
From Jan. 1 to May 31 in 1891 (5 months) gross earnings were $2.598,785, against $2,708,092 in 1890; net, $772,445, against $757.864.
Fiscal year ends Dec. 31; report for 1890 was in V. 52, p. 462.
IN C O M E ACCOU NT.
Receipts—
Gross earnings............
Net earnings........
Other receipts.............
1887.
$
6,212,926
2,073,484
277,348
1888.
$
6,203,394
2,109,821
251,125
1889. .
$
6,069,956
1,944,356
307,628
1890.
$
6,608,797
1,687,038:
522,951
1,771.014 1,897,672 2,113,773 2,723,305
58-38
61-00
62-00
6400
IN CO M E ACCOU NT.
Total incom e.. . . ---- 2,324,609
2,417,449
2,447,7282,209,980
Disbursements—
$
$
$
$
Rentals, &c.................
460,819
470,706
464,870
475,572
902,910
926,505
931,481
924 0 3 0
Interest on debt..........
1889.
1890.
Dividends.......................(8)545,946 (8) 571,966 (8) 571,975 (7) 520,260
$
$
2,257,921 2,957,225 Miscellaneous.............
48,196
79,495
293,828
226,654
1887.
1888.
Receipts—
Net, incl’g other income 1,880,511 2,045,110
Disbursements—
Interest on bonds, & c.. 1,237,134 1,296,551 1,451,265 1,814,008
Tot’l disbursements. 1,957,872 2,048,672 2,262,155 2,152,520
Dividend on pref. stock.
Balance, surplus.... 366,737
368,776
185,573
57,462
............(I *8)330,000(3%)660,000 (3) 735,000
Miscellaneous................
7,849
............
41,609
88,607 —(Y. 50, p. 311, 519; V. 52, p. 4 6 2 .)
N orthern o f N ew Jersey.—Owns froih Bergen, N. J., to Sparkm*
Total disbursem’ts. 1,244,983 1,626,551 2,152,874 2,637,615
Balance, s u rp lu s ........
635,528
418,559
105,047
319,610 N. J., 21 miles; leases Sparkul to Nyack, 5 miles; total operatecO fi
5?,les: By contract of April, 1869, it is operated by New York Ta -Ita.
—(V. 50, p. 208,1843, 245,314, 377, SB7 , 5 9 0 , 605, 735, 834,875, Erie & Western at 35 pet cent of its gross earnings and five fifty-sixths
910; V, 51, p.143, 172, 829, 876; V. 52, p. 2 7 8 , 280. 351, 621, 6 4 0 of the balance. It is understood the oonttact is terminàblé bv either718, 832, 899, 902.
party on notice. The stock is $1,000,000 ; pat, $100.
North C arolina.—Owns from Goldsboro to Charlotte, N. C., 223
In 1889 gross earnings, $343,976 ; net, $73,575 ; surplus over fixed
miles. Leased September 11,1871, to the Richmond & Danville for 30 charges, $28,550 ; dividends paid (3 pet cent), $30,000. In 1887-88.
years at $260,000 per year. Dividends of 6 per cent are paid on the rental. $100,698 ; in 1888-89, $101,446. (V. 46, p. 255 ; V. 47, p. 863.?
stock, of m hich the State of North Carolina holds $3,000,000, and the
N orthern P a c if ic .—('Nee M ap.)—L ise of R oad—June 30, 1890„
dividends teas received by the State are applied to her bonds issued to owned: Main line—Ashland, Wis., to Portland and Wallula Junction,
the North Ca.*.onna Railroad.
Ore., 2,134 miles; Duluth to Northern Pacific Junction (^ interest), 24
N orth H u d so n C ou n ty.—S e e “ M i s c e l l a n e o u s C o m p a n i e s . ”
miles; 13 small branches, 206 miles. Total owned, 2,363 miles. Lease»
N orth Pacific Coast (N arrow G auge).—Owns San Francisco to —St. Paul <fc Northern Pacific, Brainerd to St. Paul, and branches, 176
Duncans, Cal., 79 J* m iles; branch to San Rafael, 2 miles; leases to San miles; trackage—St. Paul Minneapolis A Manitoba, St. Paul to Minneap
Quentin, Cazaden, etc., 13 miles; total operated, 94 miles. Stock. olis, 12 miles ; Chicago St. Paul Minneapolis A Omaha, Superior to West
$2,500,000; par, $100. In 1890 gross, $393,822; net, $70,308, Superior, 4 miles ; Minneapolis Union terminals, 3 miles ; other lines.
3 miles. The Northern Pacific also operates the following roads and.
against $87,089 in 1889; interest, etc., $70,585; deficit, $277.
guarantees a certain rental, sufficient to pay interest and sinking fundsr
N orth P e n n sy lv a n ia .—Owns from Philadelphia, Pa., to Beth„
From
To
Mile«..
l«hem, Pa., 56 miles; branches to Delaware River, A c., 30 miles. The T
Northeast Pennsylvania and the Stony Creek roads are operated under James River Valley................ Jamestown, Dak...Oakes, Dak........... 64
contract. Leased for 990 years to Philadelphia & Reading at 8 per cent Duluth & Manitoba— . ..........Winnipeg Jc., Minn.GrandForks,Dak.llO*
a
“
Dak. Div..Grand Forks, D ak..Int’lB ’ndary,Dak. 9T
on stock.
& Palouse..................Marshall Jc., Wash.Genesee, Idaho.. 104
N orth & South o f Illin o is.—Owns from Springfield to Litch Spokane
Helena
&
Red
Mountain........
Helena, M ont.. : ___ Rimini, M ont.. . . . I T
field, 111., 43 miles, and from Litchfield to Mount Olive, 7 miles.
f Clough J., Mont.......Marysville, Mont. 12
The St. Louis & Chicago defaulted on January, 1889, coupon,
Jefferson Jc., Mont.Calvin, M on t,..,.. 30*
and foreclosure sale of main line was made October 4,1889, and of
Missoula, Mont.......Grantsdale. Mont. 50>
the branch February 5,1890. Litigation is pending and the receiver Northern Pac. & Montana... Drummond,
M ont..Rumsey, Mont.. . . 3 2
has not yet been discharged. In September, 1890, road was leased to
Canyon
House........ into Jefferson Co.. 45the Chicago Peoria & St. Louis at $40,000 per annum, lease to last dur ^
vOther lines.......*....... ...................... ....... 2V
ing the receivership. See V. 51, p. 830. Stock—Common, $1,500,000; Cœur d’Alene R. &N. Co........ Old Mission,'Idaho.Mullan, Idaho. .
preferred, $1,300,000, entitled to 5 per cent non-cumulative dividends Central Washington................ Cheney, Wash........N.W.into Lino’nCo 88
if earned. Gerald L. Hoyt, President. (V. 50, p. 72, 207, 245. 314
Other branch lines formerly under Oregon & Trans-Continental Trust
377; V. 51, p. 425, 494, 830; V. 52, p; 239.)
deed 503 miles. Grand total June 30,1890, 3,778 miles.
Northeaste.-n- (S. C.)—Owns from Charleston, S. C., to Florence,
An important operating contract with Wisconsin Central was madè in
S. C., 102 miles; leases jointly, Lane, S. C., to Sumter, S. C., 38 miles; May. 1889, giving Northern Pacific a route to Milwaukee and Chicago,,
total operated, 140 miles. Of consolidated mortgage $1,142,000 was with terminals. This contract was subsequently altered to a lease t o
held to retire debts of prior lien. Stock, $900,000; par, $50. In year run 99 years from April 1, 1890. The'W isconsin Central CompatiV
ending. June 30, 1890, gross earnings were $676,061; net, $217,332; (which see) lias a total mileage of 867 mileS,
interest paid, $133,000; dividend paid (6 per cent), $54,000.
In July, i890, leased the Seattle Lake Shore & Eastern, undef con
N orthern (New H am p sh ire).—Owns from Concord, N. H., to struction to a connection with the Canadian Pacific at the Canadian
West Lebanon, N. H., 70 m iles; branch, Franklin, N. H., to Bristol, boundary. Thé road has mileage about completed, including branchés^
N. H., 13 m iles; total, 83 miles. A lease to Boston A Lowell for 99 of 237 miles. See that company.
years from January 1,1890, was ratified in December, 1889, and then
On August 18,1890, the Northern Pacific & Manitoba was acdttUféd
assigned to Boston & Maine, rental being 5 per cent on stock till July 1, under contract dated July 1,1890. Thé road extends from Pembina*
1897, and 6 per cent thereafter, payable in gold. In addition to the 5 No. Dak., to Portage Junction (3 milés from Winnipeg), 68 miles, and
per cent dividends provided for by the lease, an extra 1 per eent per has branches to Portage La Prairie, 52 miles, and to Brandon, 146
annum has been paid regularly from surplus. (See V. 53, p. 95.
miles ; total, 265 miles.
Dividends since 1885—From 1886 to 1889, inclusive, 6 yearly; in
In March, 1891, a director of this company purchased in his own naine:
1890, 6, and 25 extra from surplus; in 1891, Jan., April and Julv the Oregon & Washington Territory RR., having a mileage constructed
each 1*2. (V. 49, p. 269, 825; V. 53, p. 95.)
and to be constructed of 209 miles. See Y. 52, p. 391.
N orthern C alifo rn ia.—Owns from Knight’ s Landing to OrovilleOrganization.—This company was chartered by act of Congress July
Cal., 54 miles; completed in December, 1890. Leased to Southern Pa, 2,1864.
The road opened, 450 miles, to Bismarck, was foreclosed Aug_ ,
ciflo Company, which owns $1,277,500 o f the $1,280,000 stock.
L2,1875, and reorganized September 29.1875. In 1889 a traffic con
„
C e n tr a l.—Owns from Baltimore, Md., to Sunbury, Pa., tract with the Wisconsin Central, afterwards altered to a lease, gave this5? ” mlI®8; branch—Hollins to Green Spring Junction, 9 miles ; leases— company a line of its own into Chicago. The Chicago & Northern
Shamokin Valley & PottsviUe Railroad, 30 miles; Elmira & Williams Pacific, with its large terminals at Chicago, is subleased from the Wis
port Railroad, 76 miles; operates at cost—Elmira & Lake Ontario Rail- consin Central and interest on its bonds guaranteed. See that com
road* 100 miles; Summit Branch. Railroad, 20 miles; Pennsylvania pany.
Railroad, 3 miles; total operated, 382 miles. In addition uses New
Stocks and B onds.—The preferred stock has a preference for 8 per
York Bake Erie & Western tracks, 7 miles, and Philadelphia <fe Erie
in each year if earned, but is not cumulative. The common stock
tracks between Sunhury and Lewisport, 40 miles, and owns Union Rail- cent
then
8 per cent, and after that both share alike. The preferred,
road, 9 miles, and $622,850 stock of the Baltimore & Potomac RR. Co. stock takes
s claim on net income is subject to expenditures for new equipThe Pennsylvania Railroad owns $3,488,950 o f stock.
Preferred stock is received in payment for company’s lands east
* ■RiJl£e? ds18ilIce 1889 have been—In 1881, 5 ^ ; in 1882, 6 ; from 1883
Missouri River at par, and the proceeds of the land sold go to its re
to 1886 inclusive, 8 ; in 1887, 8 and 10 stock; in 1888,7; in 1889 8 - of
tirement. The preferred stock has thus been reduced from $51,000,000
in 1890, Jan. 15, 5; July 15, 3 per cen t; in 1891, Jan. 15, 4; July 15, 3! to
the present figure. The back surplus due the preferred stock by w a y
INVESTORS’
1 0 2
SUPPLEMENT.
LUI,
[Y ol .
Subscribers w ill confer a great fa v or by g iv in g im m ediate notice o f any error discovered in tbese T a b les.
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
For explanation of column headings, &c., see notes of
of
Outstanding
Cent. Payable
Whom.
Dividend.
Road. Bonds Value.
on first page of tables.
Northern Pacific—( Concluded.)—
Gen. 2d mort., g., land grant, s. f.,dr’n at 110.c*<fcr 2,146
Gen. 3d mortgage, suiting fund, not dr’n, g. ,c*&r 2,146
Consol mortgage for $160,000,000, gold.......c*&r 3,163
Dividend certificates, ext’d in ’88, red. after 1892
James Riv. Val. RR. 1st M., gold, guar., s. f ___o*
64
Coeur d’Alene 1st mortgage, gold............ .
c*
39
Gen. M., $25,000 p. m., g., guar., sink. fund, .c*
49
Spokane & Palouse 1st M., gold, guar., s. f ......c*
110
Duluth & Manitoba 1st M., gold, guar., s. f ......c*
110
Dakota extension 1st mortgage, gold, guar., s.f.
96
Helena & Red Mountain 1st M., g., guar., s. f . .c*
17
No. Pac. & Montana 1st M., g.,gu.s.f.notdr’n.c*<fer 225
Cent. Wash. RR. 1st mort., g., guar., sink. fd.c*&r
88
Seattle Lake S. & East. 1st M., g., $25,000 p. m.c* 218
Northern Pac. Ter. Go.—1st M.,g. ,dr’n aft.’92 at 110c1
Northern Railway ( Val.)—1st M., int. guar., gold .. 149
Consol. M. for $21,000,000,g.,1st M.on 197 m.c*<ftr 386
Norwich <&Worcester—Pref. stock, 8 p. c. rental___
66
1st M., principal and int. guar, by N. Y. & N. E.c*
66
Ogdensburg <6Lake Champ.—Consol. M. (now 1st M.
118
in com e bonds, not cumulative...................... .
Guaranteed debenture bonds.................. ............. r
JLOgdensb TransitCo.lst M. (Cent. Yt.& Ogdens.,gu.)
Saratoga & St. Law. 1st M., for $200,000, guar.*.]
10
Ohio de Mississippi—Stock ($4,030,000 is pref). . . . ..
628
1st consolidated mort. ($3,445,000 are sink.fd.)c’ 393
$
$
l , 000&c 19,626,000
l.OOO&c 11,293,000
l.OOO&c 40,930,000
500 &c.
650,500
1,000
963,000
500
360,000
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
l , 000&c
1,750,000
1,000
5,450,000
1,000
3,000,000
5,156,000
1,000
1,000
4.751,000
100
2,620,300
1,000
400,000
1877
3,500,000
1880 500 &c.
999,750
100
&c.
1880
350,000
1888
759,500
100,000
1889
too 24,092,692
1,000
6,501,000
1868
1883
1887
1890
1888
1886
1886
1888
1886
1886
1887
1887
1888
1888
1886
1883
1877
1888
of dividends (i. e., for dividends earned but not distributed, unearned
dividends not being cumulative) amounted on June 30, 1890, to $2,844,429, invested in consolidated bonds of the par value of
$3,347,000.
Dividends on preferred stock—In 1883, l l lio! from 1884 to 1889 in
clusive, nil; in 1890, 4 per cent ; in 1891, January 15,1 ; April 15,1 ;
July 15,1.
Price o f common stock—In 1880, 20® 36 ; in 1881, 32%®51; in 1882,
28%®543g; in 1883, 23%®53*s; in 1884,14®27; in 1885, 15®31%:
in 1886, 22®3138; in 1887, 20®34i%; in 1888, 19V®29%; in 1889,
25'®3638; i n ’9 0 ,16%®391s ; in 1891, to July 17 inclusive, 211a®30.
Price of preferred stock—In 1880, 3938® 6712 ; in 1881, 641e®881s ;
in 1882,66%® 1003s; in 1883,49 %® 9 0 ^ ; in 1884, 37%®5758; in 1885,
36%®6538 ; in 1886, 5 3 ^ 6 6 ^ ; in 1887, 413s®63%; in 1888,42%®
6 4 ; in 1889, 58%®7878; in 1890, 55®86; in 1891, to July 17 in
................
clusive, 62® 74.
Besides the outstanding debt May 31,1891, $2*969,OOOIbonds were
held by the trustee of the sinking fund.
The numbers of bonds recently called for payment will be found in
Chronicle. See Y. 52, p. 80, 321, 391,795.
The general first mortgage bonds are a first lien on the mainline and on
the lands, except as to that part subject to the two divisional mortgages
and the land east of the Missouri River, which is subject to 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
o f land sales being included as part of the one per cent) began in 1886,
and the bonds may be drawn at 110. In 1889 a similar sinking fund
began for the 2d mortgage bonds.
The 3d mortgage (see abstract, V. 47, n. 21) has an accumulating
sinking 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 redemption at
maturity, but no bonds can be drawn. See abstract of Duluth & Mani
toba Extension mortgage in V. 45, p. 273.
The Northern Pacific & Montana and the Coeur d’Alene Railway &
Navigation Co. bonds are issued at $25,000 a mile; the James River
Valley and the Duluth & Manitoba at $15,000 a mile; the Spokane &
Palouse at $16,000 a mile ; the Helena & Red Mountain, a round sum ;
all the rest at $20,000 a mile.
All the issues of leased line bonds given in the table, except the Cœur
d’Alene 1st 6s of 1886, the Northern Pacific & 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 cases commence ten years after the date of issue of the respective
bonds.
This company guarantees the bonds of the Seattle Lake Shore & East
ern by endorsement; see that company.
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 branch, 2,134 miles, a one-half undividea interest in 24
miles more, and all the land grant except that east of the Missouri
River, which is subject to the preferred stock. In addition to this the
bonds at present outstanding are a first lien on 1,017 miles of
branches. . About $7,000,000 consols have been issued for new terminals
and equipment and about 270 miles of branches, for which additional
consols will be issued and on which the mortgage will have a first lien,
are under construction.
(See full 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
States and 25,600 acres per mile in territories, and the lands earned by
construction to June 30,1890, were estimated to be about 40,824,960
acres, of which about 39,441,687 remained unsold.
For the fiscal year 1889-90 net land sales (less sales of previous years
canceled) were 278,322 acres for $1,405,678. Total sales, including
town lots, &c., were $1,913,846; net cash receipts for year, $1,471,375.
Total amount of deferred payments (notes) against land sales on May
1,1891, was $5,688,173, of which $441,357 was applicable to the re
tirement of preferred stock, $2,454,064 to Missouri Division and
to Pend d’Oreille Division bonds and $2,792,750 to the first mort.bonds.
E a r n i n g s .— F r o m J u l y 1 , 1 8 9 0 , t o M a y 3 1 , 1 8 9 1 , ( 1 1 m o n t h s ) , g r o s s
e a r n in g s o n 4 ,1 1 9 m ile s w e r e $ 2 3 ,2 5 5 ,7 1 3 , a g a in s t $ 2 0 ,6 8 0 ,0 9 9 o n
3 ,5 4 7 m il e s in 1 8 8 9 - 9 0 ; n e t , $ 9 ,8 3 8 ,3 9 3 , a g a in s t $ 8 ,8 7 4 ,2 0 1 .
For nine months ending March 31, 1891, earnings, compared with
previous years, have been as follows. See article V. 52, p.698.
1888-89.
1889-90.
1890-91.
9 Months ending March 3 1 —
$
$
$
19,624,492
16,792,255
19,447,680
8,753,071
9,540,613
11,215,044
Wisconsin Central, net
Miscellaneous net income
5,871,421
5,871,421
*330,824
6,202,245
5,870,058
Surplus..........
332,187
►Three-quarters of amount for year.
[.Including rental of Wisconsin Central
6
6
5
6
6
6
6
6
6
6
6
6
6
6
6
6
5
4
6
6
6
4
6
5
g. A. & O. N. Y., Mills’ Building,
do
do
g- J. & D.
do
do
g. J. & D.
J. & J.
do
do
do
do
g- J. & J.
do
do
g. M. & S.
do
do
g- A. & O.
M.
&
N.
do
do
g.
do
do
g. J. & J.
do
do
g- J. & D.
do
do
g- M. & S.
g. M. & S.
do
do
do
do
g. M. & S.
g- F. & A. N. Y., Union Trust Co.
g* J. & J. N. Y., Winslow, L. & Co.
g- J. & J. N.Y., So.Pac.Có.,23 BPd
do
do
g. A. & O.
J. & J. Boston, Second Nat. Bk.
M. & S. Boston, N. E. Trust Co.
Boston, Office.
A. & O.
A. & O.
St. Albans, Vt.
J. & J.
F. & A.
(Î)
Ogdensburg, N. Y.
J. & D.
"7
Dec. 1,, 1933
Dec. 1,, 1937
Dec. 1 , 1989
Jan. 1 , 1907
Jan. 1,, 1936
Sept. 1 , 1916
Oct. 1 , 1938
May 1 , 1936
July 1,, 1936
June 1 , 1937
Mch. 1 , 1937
Sept. 1 , 1938
Sept. 1 , 1938
Aug. 1 , 1931
Jan. 1 , 1933
Jan. 1 , 1907
Oct. i; , 1938
July 6 , 1891
Mch. 1 , 1897
Apr. 1 , 1920
April, 1920
April, 1920
Aug. 1 , 1909
June 1 , 1919
J. & J. N. Y., Union Trust Co. Jan. 1, 1898
Fiscal year ends June 30. Report for 1889-90 was in V. 51, p. 534,
593. See also articles in V. 51, p. 262, 515.
1889-90.
1888-89.
1887-88.
1886-87.
3,778
3,465
3,102
3,337
Mileage, June 30___
«
Nam ings—
$
$
$
6,167,702
5,824,163
P assenger___. . . . . .
3,269,703
4,577,898
Freight.....................
8,730,547 10,426,244 12,877,838 15,600,320
1,005,467
842,481
Mail, express, &c___
842,186
789,197
T o ta l.................. 12,789,447 15,846,328 19,707,468 22,610,503
Operating expenses. 7,173,020 9,266,884 12,185,944 13,463,746
7,521,524
61-83
9,146,757
59-54
1887-88.
«
6,579,444
548,537
1888-89.
$
7,521,524
532,325
1889-90.
$
9,146,757
1,341,172
6,090,793.
7,127,981
8,053,849 10,487,929
4,456,536
752,757
696,650
112,698
4,703,955
782,359
881,072
224,095
4,917,833
1,159*263
1,060,738
343,309
6,445
17,813
91,228
Net earnings............
Per ct. exp. to eam ’s
5,616,427
5609
Receipts—
Net earnings............
From investm’ts, &c.
1886-87.
$
5,616,427
474,366
6,579,444
58-48
INCOME ACCOUNT.
T o ta l..................
Disbursements—
Interest on bonds...
Rentals.....................
Guarantees...............
Sinking funds..........
Def. on Wis. Central.
Dividends (3 p. c.)...
Miscellaneous..........
5,115,752
1,424,021
1,333,008
301,918
144,630
1,112,732
108,708
9,540,770
6,609,294 7,572,371
6,025,086
T ota l..................
947,159
481,478
518,687
65,707
Pa1'
. surplus__
—(Y. 50, p. 37,139,187,275, 279, 314, 590,622, 644,735; V. 51, p. 21,
84 114,142, 239, 241, 262, 494, 5 1 5 , 5 3 4 , 538, 5 3 9 , 680, 721; V. 52,
p 8 0.219, 280, 321 391, 571, 643, 698, 795.)
N o r t h e r n P a c i f i c T e r m i n a l C o m p a n y .— Owns terminal facili
ties 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, jointly and severally to the Northern Pacific Railroad, the Ore
gon Railway & Navigation Company and the Oregon & California Rail
road, with a guaranteed rental sufficient tp 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
bv 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 delivered after payments to
the sinking fund, which is to cancel the bonds
N o r t h e r n R a i l w a y C o . ( C a l i f o r n i a ) .—This was a consolida
tion in May 1888. Owns 390 miles of railroad, leased for 99 years from
ju iv 1 1888, to the Southern Paciflo Company, the lessee paying fixed
charges and betterments. The statement dated Feb. 28, 1890, to the
___
,
N. Y7 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; surplus over
charges, aue Northern Railway Company, $485,629, against $424,318
in 1889, (V. 50, p. 377, 391, 393.)
N o r w i c h & W o r c e s t e r .—Owns from Norwich, Conn., to Worces
ter 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 per cent on preferred stock. Common
stock is $6,600. Notes payable, $300,000. 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.
O u d e n s b u r g & L a k e C h a m p l a i n .— Owns from Rouse’s Point,
8,232,636 N Y. to Ogdensburg, N. Y., 118 miles; leases for 99 years Saratoga &
1,466,123 St Lawrence RR., 9 miles. On June 1,1886, a perpetual lease o f this
road was made to the Central Vermont RR. Co., the lessee to pay inter
7,251,642
9,698,759 est on the bonds. The Ogdensburg Transit bonds are guaranteed by
t362,000
846,246 this company and the Central Vermont. Stock $3,077,000 (par, $100),
of which $1,612.500 is owned by Central Vermont.
From July 1 to March 31, 1891 (9 months), gross earnings were
7,613,642
10,545,005
6,243,180
Î9,089,086 $608 499, against $571,507 in 1889-90; net, $176,323, against $187,505 *’ deficit under charges, $14,705, against surplus o f $9,988.
I n ’ v e a r ending March 31,1890, gross earnings were $838,632; net,
1,370,462
1,455,918
$265 988; surplus over interest charges, $30,222. In 1888-89 gross
earnings. $764,998; net, $241,097; surplus over charges, $5,479. (V.
t Partly timated.
50, p. 276; 707; V. 51, p. 240, 788; V. 52, p. 322, 762.)
7,251,642
103
BONDS.
AN D
STOCKS
RAILROAD
July, 1891.]
104
INVESTORS’
SUPPLEMENT,
[Y ou UII,
Subscribers w ill confer a great favor by g iv in g im m ed ia te notice o f any error discovered in tbese T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
D u e.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When
Par
of
Stoi ks—Last
of
For explanation of column headings, &c., see notes
Outstanding Centi Payable
Whom.
Dividend.
on first page o f tables.
‘ V: Road. BOnds Value.
•Ohio <£Mississippi—( Continued.)—
1st consolidated mort., sterling, s. f. not dr’n .. . 0 *
2d cons. mort. (cum. sink, fund), no drawing, .c*
Spring. Div. (Sp. & 111. S. E.) 1st M. ($3,000,000) C*
l i t general mortgage (for $16,000,000)............. c*
Equip. Tr.,2 series, 10 per ct. dm. yearly at 100.c*
•Ohio River—1st mortgage, gold, $12,000 per mile.c*
Gen. M. gold (for $3,000,000) 1st on 40 miles, .c*
Ravenswood Spencer & Glen.lstM., gold,guar.c*
Ohio Southern—1st mort. ($15,000 p.m .) gold— c*
General mortgage, gold (for $2,800,000)........... c*
O hio Valley,Ky.—Gen. consol. M. ($20,000 p. m.).c*
O ld Colony—Stock authorized, $15,000,000..........c*
Bonds (not mortgage)........................................ c&r
Ronds
do
($2,000,000 F.&A.,Aug.’97)c<fcr
Ronds
do
...................................................r
'Bonds for Framingham & Lowell bonds..............c
Ronds not mort. ($750,000 ’ 84, due July, 1904) .r
New Bedford RR. 1st mortgage........................... c
Boston Clin. F. & N. B. mortgage bonds............. c
Omaha A St. Louis—1st mortgage, gold................ c*
2d mortgage ($4,000 per mile) gold................... c*
Funded interest certificates, redeemable at 100..
Oranae Belt—1st M.,g., $5,000 p.m.red.aft.l891.c*<fer
Oranae-Keysville—1st mort., $15,000 per m. gold..
Oreaon <6 Cal.—lstM .,g.($30,000p.m.)dr’n at 100. c*
Oregon Pacific—1st M., 1. g., s. f.,g.,$25,000 p.m.c*<fer
393
393
222
1691
209
33
132
108
58
125
145
145
Ï53
555
1868
1871
1874
1883
87&90
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
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
O b io & M is s is s ip p i.—Owns from Cincinnati, O., to East St. Louis339 miles; Louisville branch, North Vernon to Jeffersonville, Ind.,
53 miles; the Springfield Division, Beardstown to Shawneetown, 111.,
"228 miles; New Albany & Eastern, Watson to New Albany, Ind., 7 miles;
total, 628 miles. Organized November 21,1867, after foreclosure sale.
The terms of preference in preferred stock certificates read:
“ The preferred stock is to be and remain a first claim upon the prop-erty of the corporation, after its indebtedness, and the holder thereof
«hall 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
an full for each and every year before any payment of dividend upon
«the common stock; and whenever the net earnings ”
*
*
*
shall be more than sufficient to pay both said interest of 7 per cent on
t o e preferred stock in full, and 7 per cent dividend upon the common
«stock for the year in which said net earnings are so applied,” then the
«excess shall be divided equally, &c.
In Nov., 1890, the English shareholders appointed a committee to call
t o the common and preferred shares and to issue certificates therefor to
t o e holders and to protect generally their interests. Brown, Shipley &
«Co.’s certificates have accordingly been issued for common and pre
ferred stock. See V. 51, p. 681,715.
Of the general mortgage of 1883 $12,142,000 is reserved to exchange
fo r old bonds as they mature. Cyrus C. Hines, of Indiana, and Union
Trust Company, of New York, are mortgage trustees.
From July 1,1890, to May 31,1891 (11 mos.), gross earnings were
S3,804,047, against $3,908*782 in 1889-90 ; net, $1,089,187, against
$1,244,410.
Fiscal year ends June 30. Report for 1889-90 in V. 51, p. 536.
iUL,
$112,000
3,334,000
2,009,000
3,886,000
444,000
2,000,000
2,428,000
300,000
2,100,000
2,482,000
2,029,267
12,367,100
1,692,000
3,600,000
200,000
498,000
3,650,000
400,000
1,912,000
2,717,000
580,000
271,700
700,000
(*)
16,654,000
10,000,000
6 g.
7
7
5
6
5 g.
5 g.
6 g.
6 g.
4 g5 g.
3*2
7
6
4*2
4*2
4
7
5
4 g.
5 g.
5
5 g.
6
5 g.
6 g.
J. & J.
A. & O.
M. & N.
J. & D.
Various
J. & D.
A. & O.
F. & A.
J. & D.
M. & N.
J. & J.
J. & J.
M. & S.
Various
J. & D.
A. & O.
J. & J.
J. & J.
J. & J.
J. & J.
J. & D.
J. & J.
J. & J.
M. & N.
J. & J.
A. & O.
London.
N Y., Union Trust Co.
do
do
do
do
N. Y., Kidder, P. & Co.
N. Y., Central Trust Co.
do
do
do
do
N. Y., Corbin Bank’g Co.
do
do
N.Y., Central Trust Co.
Boston, Office.
do
do
do
do
do
do
Boston, N. E. Trust Co.
Int. funded till Jan.,’93
New York.
do
Jan. 1, 1898
Apr. 1, 1911
Nov. 1, 1905
June 1, 1932
10 p. c. yearly.
June 1, 1936
Apr. 1, 1937
Aug. 1, 1920
June 1, 1921
May 1, 1921
July 1, 1938
July 1, 1891
Mch. 1, 1894
1895-’96-’97
Dec. 1, 1897
Apr. 1, 1904
1904 & 1938
July 1, 1894
Jan. 1, 1910
Jan. 1, 1937
May 1, 1940
Jan. 1, 1937
Jan. 1, 1907
Nov. 1, 1919
N. Y., South. Pacific Co. July 1, 1927
Apr., ’90, coup, last pd. Oct. 1, 1900
From July 1,1890, to March 31,1891 (9 months), gross earnings
were $6,123,670, against $5,845,081 in 1889-90; net, $1,568,438,
against $1,645,021; surplus over charges, $521,718, against $797,885.
Year now ends June 30. Report for 1889-90 was in V. 51, p. 382. In
the following the figures for 1889-90 are for the year ending June 30—
all others for years ending September 30.
INCOME ACCOUNT.
1886-37.
Receipts—
$
Gross earnings................ 4,865.571
Net earnings.................... 1,332,576
Other receipts..................
95,215
1887-88.
1888-89.
1889-90.
$
$
$
6,322,628 7,726,312 8,020,295
1,684,961 1,995,036 2,059,855
94,090
132,766
135,723
Total income............. 1,427,791
Disbursements—
$
Rentals p a id ...............
16,134
Interest on debt...............
597,897
788,616
Dividends (7 per cent)___
Improvement account...
25,144
1,779,051
$
265,559
636,368
802,763
74,361
2,127,802 2,195,578
$
$
560,995 584,605
672,133 658,675
830,655 844,683
64,019 107,615
Total disbursements... 1,427,791 1,779,051 2,127,802 2,195,578
—(V. 50, p. 207, 622; V. 51, p. 172, 344, 3 8 2 , 458, 646, 681; V. 52, p.
239. 718.)
O m ah a & St. L o u is.—Owns road from Council Bluffs, la., to Pattonsburg, Mo., 144 miles. This company was formed in 1887 as suc
cessor to the Omaha Division of the St. Louis Kansas City & Northern
(Wabash), sold in foreclosure. Preferred 6 per cent stock, non-cumulaINCOME ACCOUNT.
tive, $2,220,500; common stock, $2,313,000 deposited in trust till June
1886-87.
1887-88.
1888-89.
1889-90. 1,1893; par, both, $100. Five coupons, including the coupon due Jan
$
$
$
$
uary 1,1891, were funded into 5 per cent bonds, due 1937, but redeem
4,214,747 able at option of company, the new bonds being secured by the cou
3,977,559
3,955,165
•Gross earnings— . 3,988,433
1,244,142
1,302,274 pons deposited in trust. (See V. 52, p. 81, 391.) See abstract of first
1,019,804
N et earnings.......... . 1,337,953
mortgage, V. 45, p. 213; full statement in V. 44, p. 812.
Disbursements—
From July 1,1890, to May 31,1891 (11 months), gross earnings were
1,042,530
1,047,671
1,054,245
toterest on debt... . 1,024,716
61,000
65,000
69,000 $478,209, against $564,317 in 1889-90. In fiscal year 1889-90 gross
57,000
¡Sinking fund..........
29,931
96,600 were $615,775; net, $129,686; interest on first mortgage, $108,680.
80,377
Miscellaneous.......
—(V. 50, p. 275, 452, 622, 875; V. 51, p. 7 8 6 ; V. 52, p. 81, 391.)
1,133,461
1,219,845
1,193,048
Total................ . 1,081,716
Orange B e lt.—From Sanford, Fla., to St. Petersburg, 153 miles.
(Balance................ ...sur.256,237 sur.110,681 def.173,244 sur. 82,329 The
bonds are 5-20s, and may be redeemed after January, 1892.
—(V. 51, p. 303, 456, 5 36,681, 715, 786; V. 52, p. 832.)
They are guaranteed by the Orange Belt Investment Company. The
O h io R iv e r .—Owns Wheeling, W. Va., to Point Pleasant, W. Va., January, 1889, coupon was purchased by H. O. Armour & Co., New
168 miles, and Huntingdon, W. Va., 40 miles; total, 209 miles. The York. Company reorganized April, 1889. E. T. Stotesbury, Philadel
Ravenswood Spencer & Glenville is building a line in the interest of this phia, President. (V. 46, p. 245.)
•company from Ravenswood, W. Va., to a connection with the West VirOrange—K e y sv llle .—Was under construction, to be completed in
ia & Pittsburg Railway at Glenville, and its 1st mortgage bonds for
)0,000 are guaranteed principal and interest. The stock authorized is 1891, from Goraonsville (Junction Chesapeake <fe Ohio and Richmond &
Danville)
in Orange County, Va., to Keysville, Va., on the Richmond &
000,000—outstanding $5,915,400; par, $100; car trusts, $143,896.
From January 1 to May 31, 1891 (5 months), gross earnings were Danville, about 95 miles. A motion for the appointment of a receiver
was
refused
in June, 1891. Trustee of mortgage is Farmers’ Loan &
••$241,190, against $234,741 in 1890; net, $76,634, against $93,923.
In 1890 gross earnings, $680,972; net, $315,013; interest, $221,400; Trust Company of New York. Stock authorized: common $1,000,000 ;
preferred
$700,000;
guaranteed preferred, $300,000; total, $2,000,000;
(taxes, etc., $38,520; surplus, $55,093. In 1889 gross, $589,770; net,
$289.471; surplus over interest and taxes, $51,476. George W. Thomp par, $100.
son, President, Parkersburg, W. Va. (V. 50, p. 7 6 9 ; V. 51, p. 416, 680 ;
Oregon & C aliforn ia.—From Portland, Ore., to California State
V. 52, p. 831.)
line, 365 m iles; Albany Junction to Lebanon, 12 miles; West Side Divi
O hio S o u t h e r n .— Own Springfield, O., to Wellston, 118 miles, and sion. Portland to Corvallis, 97 miles; Woodburn to Coburg, Ore., 80 miles.
«branches, 22 miles. Stock authorized, $5,500,000; outstanding, $3,- Total, 555 miles. Of the old sixes due July 1,1921, $82,000 are yet
$40,000—par $100. General mortgage of 1889 is to the Central Trust out. The land grant was about 4,000,000 acres, part of which is covered
Company) as trustee. From Jan. 1 to June 30,1891 (6 months), gross by the mortgage, proceeds of land sales going to redeem bonds drawn
-earnings on 140 miles were $264,451, against $252,633 in 1890. In at par, unless purchasable lower. Trustee of mortgage, Union Trust
1890 gross earnings were $554,390; net, $261,881; interest, $226,800; Company, New York. In 1890 net land sales subject to mortgage were
surplus, $35,081. Gross earnings in 1889, $525,657; net, $217,821; 20,495 acres for $101,078; cash receipts, $33,711.
Reorganized in 1887 per plan in C h b o n i c l e , V. 44, p. 118, 370. The
toterest $142,800; surplus, $75,021. Alfred Sully, President. (V. 50, p.
road isleased to the Southern Pacific Company for 40 years from Janu
"72; V. 52, p. 832.)
ary
1,1887, the lessee guaranteeing interest on the bonds, and the lessor
O hio V a lle y .—Completed from Evansville, Ky., to Princeton on the
any net profit and being charged with any deficit after pay
-Chesapeake Ohio & Southwestern, 99 miles; branches, 9 miles; total, 108 receiving
ment
charges and betterments. The Pacific Improvement Company
miles. In 1891 this company’s stock was purchased by the Chesapeake owns of
the
bi5k of its $19,000,000 stock, $12,000,000 of which is 7 per
•Ohio & Southwestern, which guarantees the bonds by endorsement. cent preferred.
In 1890 gross earnings on 474 miles were $1,927,339;
Bee wording of guaranty in application to N. Y. Stock Exchange, V. 52, net, $496,830 (against
$806,804 in 1889); total net income, including
' p. 974. It is expected that the Ohio V alley will be pushed further south interest received, $595,760;
fixed charges, $855,190; deficit for year,
-at once. Of the old fives due in 1926 only $100,000 are outstanding. $259,439, against surplus of $142,187 m 1889, the loss in 1890 being
The stock is *2,163,000; par, $100.
due
to
exceptional
causes,
storms,
etc.—(V. 48, p. 828; V. 51, p. 910.)
From Jan. 1 to Feb. 28, 1891(2 months), gross earnings were $50,•098, against $32,363 in 1890; net, $22,246, against $8,126.
Oregon. Pacific.—Projected from Yaquina, on Yaquina Bay, Ore.,
In year 1889-90 gross earnings were $210,140; net, $65,455 (against to eastern boundary of the State, about 600 miles, of which 136 miles, to
$47,946 in 1888-89); interest on bonds, car trusts, etc., $12,792; rentals, near summit of Cascade Mountains, are completed and in operation; 30
-etc., $18,725; balance, $33,938. (V. 51, p. 6 0 7 ; V. 52, p. 321, 718,974.) miles more are finished, and 40 miles are ready for the rails. Over 950,. O ld C olony (M a ss.)—Owns from Boston to Provincetown, Mass., 000 acres of land subject to prior lien of $ (1) are covered by the mort
120 miles; lines to Kingston, Plymouth, Somerset Junction, New Bed gage. The Farmers’ Loan & Trust Company of New York is trustee un
ford, Lowell and Fitchburg, Mass., and to Newport, R. I., 249 miles, and der the mortgage. See abstract of same in V. 49, p. 240. Stock is $30,numerous branches 113 miles in all; total owned, 482 miles; leases—Bos 000 per mile. Default was made on coupons due October 1,1890, and
to n & Providence Railroad, Boston to Providence,44 miles, and branches Mr. T. E. Hogg, the President, was appointed receiver. See V. 51, p.
•24 m iles; other lines, 14 miles; total owned and leased, 576 miles. 609. Receiver’s certificates for $550,000 have been authorized. A pre
Sin 1888 a lease of Boston & Providence Road was made for 99 years. liminary agreement has been prepared by bondholders opposed to the
An increase of stock from $12,000,000 to $15,000,000 was authorized by present management. Copies may be seen at the office of Messrs. Blair
& Co., 33 Wall Street. See V. 53, p. 59. In addition to about $10,stockholders in November, 1889, to pay for new connections, etc.
Dividends since 1876—In 1877 and 1878, 6 per cent; in 1879, nil; in- 000,000 bonds that were sold some $5,000,000 have been pledged to
:1880 and 1881, 6 ; in 1882, 6*2 ; from 1883 to July, 1891, both in secure a debt of about $3,000,000. Office, 45 William Street, New
York. (V. 48, p. 452, 662: V. 51, p. 458, 609; V. 53, p. 59.)
clu sive, at the rate of 7 per cent yearly.
t
J u l y , 1891.]
RAILKOAD
STOCKS
AND
BONDS,
105
Subscribers w i ll eonfer a great fa r o i *by g iv in g Im m ed iate notice o f any error discovered In tbese T a b les.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
When Due.
Amount Rate per When Where Payable, and by pal,
of
For explanation of column headings, &c., see notes of
Par
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Oregon Bailway <6Navigation—Stock........................
1st mort. bonds, gold, sink. fd. (drawn at 100). .c
Consol, mortgage", gold,$25,000 per m ile,.......c&r . . . .
Collateral trust, gold, redeemable at 105.......... c*
Oregon Short Line <6 U. Nor.—Or. Short. L. 1st M.,g. 61*0
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
Equipment bonds ($35,000 payable yearly)......
Idaho Central 1st mort. Nampa to Boise City ..c* T é
Consol. M. (1st on 201 miles) gold, red. at 105. .c* 1,421
Collateral trust, gold (redeemable at 105) guar.o*
"56
28
Osweao dkBorne—1st mortgage, guar..........................
28
2a mortgage, gold, guaranteed by R. W. & O... c*
35
Oswego <GSyracuse—Stock, 9 p. c. guar., D. L. & Vv.
Consol, mortgage (guar. D. L. & W.). . . . . . ...........
Construction M., guar. prin. &int.(for$l ,000,000) "35
88
Owensboro & Nashville—1st mortgage, gold..........c*
Pacific Short Line—Nebraska West. 1st mortgage. 130
Paducah Tenn. £ A la.—1s tM., $20,000perm., g.c*
48
Panama—Stock............................................................
48
General mortgage, sterling....................................c
Sinking fund subsidy mort.,gold, drawn at 100.o*
48
Paterson & Hud.—Stk.,8 p.c.perp.rent.N.Y.L.E.&W.
15
Pecos Valley—1st mort., gold, $12,000 per mile., c*
90
$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
1889
1,000
1889 50Ó <fcc.
1865
1891
1876
1883
1881
1889
1890
1867
1880
1890
1,000
1,000
50
1,000
1,000
1,000
1,000
1,000
100
£200
1,000
50
1,000
$24,000,000
5,311,000
12,983,000
4,000,000
14,931,000
1,526,000
1,950,000
4,995,000
1,865,000
214,000
143,000
10,476,000
13,000,000
1,142,000
350,000
400,000
1,320,400
438,000
668,000
2,000,000
2,600,000
(?)
7,000,000
2,989,000
2,404,000
630,000
1,080,000
l'a
6 g.
5 g.
5 g6 g7
7
7
5 g5
6
5 g.
5 g7
5 g.
4*2
7
5
6 g.
5
5 g2
7 g.
6 g.
4
5 g-
Q —J. Boston,Office.Equit.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. <fe 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.
M. & N. N. Y., Gr. Cent. Depot.
F. & A.
do
do
F. & A. N. Y., Del. L. & W. RR.
M. & S.
do
do
M. & N. N. Y., Farm. L. & Tr. Co.
M. & N.
New York.
J. & J.
In default.
J. & J. N. Y., Central Trust Co.
Var.
N. Y., Of., 15 Broad St.
A. & O. N.Y., 15 BFd St.&Lond.
M. & N. N. Y., Of., 15 Broad St.
J. & J.
New York.
A. & 0. N.Y., Mercantile Tr. Co.
July 1, 1891
July 1, 1909June 1, 1925Sept. 1, 1919
Feb. 1, 1922
July 1, 1909
July 1, 1909
July 1, 1908
July 1, 1926
A pr.l, yearly.
Jan. i , 1917
Apr. 1, 1919
Sept. 1, 1919
May 1, 1915
May 1, 1915
Feb., 1891
1907
May, 1923
Nov. 1, 1931
July 1, 1929
July 1, 1920
Mch. 27,1891
Oct. 1, 1897
Nov. 1, 1910
July 2, 1891
Oct. 1, 1920
Oregon R a ilw a y & N avigation .—M a i n L i n e —East Portland,
Oregon Sc W a s h in g to n T errito ry .—Operates from Pendleton,
Ore., to Huntington, Ore., 401 m iles; branches 628 miles; total oper Oregon, to Dayton, Washington, 127 miles,, and branches, 40 miles.
ated January 1,1891,1,029 miles. Ocean line between San Francisco
In March, 1891, Mr. C. B. Wright, of Philadelphia, a director of the
and Portland, 670 miles.
Northern Pacific Railroad, purchased all its stock and bonds. See V .
Leased for 99 years from January 1,1887, to the Oregon Short Line & 52, p. 391. President, G. W. Hunt, Walla Walla, Washington.
Utah Northern RR., rental being 6 per cent per annum on stock and in
Sc R o m e .—Owns from Richland, N. Y.\, to Oswego, N. Y .,
terest on its bonds. This lease (see abstract Y. 45, p. 539) is guaranteed 29Oswego
miles. Leased in perpetuity to the Rome Watertown & Ogdensburg
by the Union Pacific. In 1889 the Oregon Short Line Co. purchased a Railroad,
and
operated by the New York Central; annual rental is inter
majority of the stock.
on the first and second mortgage bonds, both of which are endorsed
Dividends since 1876—In 1879, 2 per cent; in 1880, 8 and 10 scrip; est
in 1881 and 1882, 8 ; in 1883, 10; in 1884, 6*2 ; in 1885, 4 ^ ; in 1886, with the guaranty of the Rome Watertown & Ogdensburg. Stock is
7 ; in 1887 and 1888, 6 ; in 1889, 7 (1 per cent being extra out of assets); common, $225,000; preferred, $75,000; par, $100.
Oswego Sc Syracuse.—Owns from Oswego, N. Y., to Syracuse, N
in 1890, 6; in 1891, January, 1*2; April, 1*2; July, l 1^.
The. first morgage has a sinking fund of $60,000 per year, plus Y., 35 miles. Leased in 1868 during length of charter and renewal
interest on bonds canceled (making $96,880 in all in year 1888-89), to thereof to the Delaware Lackawanna & Western Railroad Company fo r
buy bonds at or below 110, or else draw them at par on January 1, 9 per cent per year on $1,320,400 stock and interest on bonds.
O w ensboro Sc N ash ville.—Owns from Owensboro, K y.,to Adairbonds so paid being canceled. The Farmers’ Loan & Trust Co. is trustee
ville, Ky., 84 miles; Mud River Branch, 4 miles. Operated by Louis
of the 1st and the consolidated mortgages.
The collateral trust issued in 1890 (trustee American Loan & Trust ville & Nashville Railroad, which owns $1,014,000 of the $1,156,518
Company of Boston) provides for the issue of $25,000,000 bonds. The stock (par, $100) and $1,200,000 of the first mortgage bonds—all these
entire issue (but not less) may be redeemed on seven months’ notice at bonds and most of the stock being pledged under its trust deeds. In
105 and interest. See abstract of mortgage and of the mortgages se 1889-90 surplus over fixed charges $42,136, against $31,148 in 1888-89.
curing the bonds pledged in Y. 51, p. 243.
Pacific Short L in e .—Completed from Sioux City to O’Neill, Neb.,
From January 1 to May 31 in 1891 (5 months), gross earnings of 130 miles, under the charter of the Nebraska & Western. Projected
railroads were $2,132,482, against $1,427,631 in 1890; net, $595,661, from Sioux City to Ogden, a distance of 960 miles. To be sold in fore
against deficit of $147,611. In 1889 gross, $4,576,136; net, $1,575,351; closure within a short time. In December, 1890, receivers were ap
rental received $2,414,960; loss to lessee after deducting credits and pointed and their report as to the financial condition of the property,
adding loss on water lines ($17,570), etc., $744,422. In 1890 gross issued in April, 1891, was published in V. 52, p. 571.—(V. 48, p. 562; V.
$4,954,711; net, $908,336; rental received $2,556,593; other expenses 49, p. 115,145; V. 51, p. 910; V. 52,p. 571.)
met by lessee (loss on water lines $70,517, interest on Northern Pacific
P a d u cah Tennessee Sc A la b a m a .—In operation from Paducah,
Terminal bonds $55,415, etc.) $140,933; loss to lessee, $1,789,190.—(V. Ky.,
to Paris, 65 miles, and to be built to Sheffield, Ala., 135 miles ad
50 p. 70, 706, 771, 910; V. 51, p. 243.)
ditional. The mortgage (Central Trust Co., trustee) is for $1,680,000.
Oregon Short L in e Sc U tah N orth ern .—Owns road from
P a n a m a .—Owns from Colon to Panama, 48 miles. Opened through
Granger, Wyoming, to Huntington, Oregon, 542 miles; branch Sho January 28,1855. The subsidy bonds are secured by a pledge of the
shone to Ketchum, Idaho, 70 m iles; Ogden to McCammon, Idaho, 110 sum of $225,000 annual subsidy payable to the U. S. of Colombia by the
m iles; Pocatello to Silver Bow, Montana, 256 m iles; Lehi Junction to company. Of the bonds given above as outstanding $249,000 o f the 7a
Tintic, Utah, 54 miles; Ogden, Utah, to Frisco, 275 m iles; sundry and $411,000 of the 6s are held by the sinking fund of the 7s of 1867.
branches, 114 miles (of which 40 miles narrow gauge); total, 1,421 In June, 1881, most of the stock was sold to parties interested in the Dei
miles. Also leases and controls tho Ore. R. & Nav. Co., which see above. Lesseps Panama Canal Co. The report for 1890 was in C h r o n i c l e , V .
This company was formed in 1889 by a consolidation of the Oregon 52, p. 569, showing net income of $922,500, against $937,300 in 1889,
Short Line, the Utah Northern and other lines. It is controlled by the and a surplus over charges of $348,873, against $384,150. Dividends
Union Pacific Railway Co, which operates it under a traffic agreement. since 1876 have been: In 1877 and 1878,12 per cent; in 1 8 7 9 ,1 3 ; in
Oregon Railway & Navigation stock for $13,940,700 is owned, $12,- 1880,16; in 1881, 34-26; in 1882, 1 2 ^ ; in 1883,13*2; in 1 8 8 4,1 6 ; in
500,000 being depositedas security for the collateral trust bonds of 1885, 10; in 1886 and 1887, nil; in 1888, 26; in 1889, 9 ; in 1890.
1889. There is a sinking fund for this issue, but not less than the March 27, Sta Dec. 16, Ha; in 1891, March 27, 2. (V. 50, p. 4 8 * ; V .
whole amount can be called for payment, and that only at 105. The 52, p. 569.)
Union Pacific guarantees both principal and interest of the collateral
P aterson Sc H u d so n .—Owns from Weehawken, N. J., to Paterson.
trust bonds, and on January 1, 1891, held $4,631,000 of them in its
J., 13 miles. The road was leased in perpetuity in 1852 at a rental
treasury, together with $1,811,000 consolidated 5s. Trustee is Ameri N.
of
$48,400 per year, and is operated by the New York Lake Erie Ss.
can Loan & Trust Co. of Boston. See mortgage abstract, V. 51, p. 243. Western
as part of its main line.
The consolidated mortgage due 1919 (trustee, American Loan & Trust
P
e e o s V a lle y .—Projected from Pecos City, Texas, on the Texas &
Company) is a first lien on 201 miles and a second on 1,220 miles. Suf
ficient bonds are reserved to retire prior bonds when due, and the total Pacific Railroad, via the valley of the Pecos River, to Albuquerque, New
issue on the road in operation is not to exceed, including prior liens, Mexico, on the Atchison Topeka & Santa Fe, about 340 miles; completed
$25,000 per mile. Bonds may be issued for extensions at $25,000 per in November, 1890, from Pecos City to Eddy, about 90 miles. (See V.
mile (unless a majority of the bondholders object) and additional amounts 51, p. 458.) The mortgage (trustee, Mercantile Trust Company o f New
for terminals and second track, but not exceeding in the aggregate $35,- York) is for $5,000,000. (V. 51, p. 458.)
P en n sy lv an ia .—(See M o»)—L i n e o f R o a d —The Pennsylvania sys
000 per mile of double track. The issue is redeemable (but only as a
whole) on any coupon day at 105 and interest. There will be a sinking tem embraces about 7,949 miles of railroad, including all east and w est
fund when earnings suffice, but for this no bonds can be drawn. Pro of Pittsburg. At the close of 1890 the mileage operated east o f Pitts
vision was made for exchanging the securities of the original com burg & Erie, on which earnings as reported were based, was divided as
panies for consols, so that the consolidated mortgage is gradually be follows: Pennsylvania Division and branches, 1,440; Philadelphia &
coming a first lien. The Union Pacific guarantees interest on this issue Erie Division, 546; United Railroads of New Jersey and branches, 448;
total operated, New York to Pittsburg, “with branches, 2,434.
under a traffic agreement. See abstract of mortgage V. 51, p. 242.
O r g a n i z a t i o n , L e a s e s , &c.—The charter of the Pennsylvania Rail
Stock authorized $27,000,000 (par, $100); outstanding $26,119,853,
of which the Union Pacific on January 1,1891, owned $14,999,903. road was dated April 13,1846. The Harrisburg Portsmouth Mount J oy
&
Lancaster is still operated under a lease, though forming part o f tho
Floating debt January 1,1891, $1,791,734.
From Jan. 1 to May 31, in 1891 (5 mos.) gross earnings were $3,039,- main line.
The
Pennsylvania Company was organized in 1870 as an auxiliary
784, against $2,852,048 in 1890; net, $1,123,684, against $861,067.
corporation to control all the fines west of Pittsburg and Erie, the Penn
Report for 1890 was in V. 52, p. 679, showing the follow ing:
sylvania
Railroad Company holding all its stock.
INCOME ACCOUNT.
S t o c k a n d B o n d s . —The Pennsylvania Railroad stock has been in
1889.
1890.
creased from time to time, chiefly by the sale of stock at par to stock
Average miles operated............................. ......
1,397
1,464.
holders, for the purpose of raising capital for new acquisitions, etc.
In March, 1890, $20,000,000 new stock was authorized by stock
$
$
Gross earnings.................................................. 6,512,345
7,488,031 holders for improvements and additions as required, and the President’ s
Net earnings................ „.............. ..................... 2,628,665
remarks
on this policy were given in V. 50, p. 392. Of this $20,000,000
2,334,047
449,452
Income from investments, etc........................
884,165 stock, towards one-half has been issued ana is included in the amount
outstanding in the table above. See C h r o n i c l e , V. 50, p. 622, 801.Total net in com e................ ..........
....... 3,078,117
3,218,212 * Dividends since 1870—In 1871,1872, 1873 and 1874,10 per cen t
each year; in 1875 and 1876,8 per cent each year; in 1877,4; in 1878,
Disbursements—
Interest on bonds............................................. 1,834,879
2,577,412 2 ; in 1879, 4 *2 ; in 1880, 6 and 1 per cent in scrip; in 1881, 8 ; in 1882,
Sinking fund.................................. .....................
15,423
201,110 8*2 ; in 1883, 8*2 ; in 1884, 7 ; in 1885 and in 1886, 5 ; in 1887, 5*2 ; in
Loss on leased lines (Ore. Ry & Nav. system)
736,206
1,789,190 1888 and 1889,5 percent yearly; in 1890, May 29, 3 per cen t; N o v .
Miscellaneous..... ...........................\ ..............
201,811
47,182 29, 2^2 ; in 1891, May 29, 3, either cash or non-interest bearing scrip,
convertible into stock till August 1,1891. (See V. 52, p. 718.)
Price of stock in Philadelphia (price per $50 share not percentum
T ota l.............................j?..................
2,788,319
4,614,894
price)—In
1880, 48®6714 ; in 1881, 59i2®7018 ; iu 1882, 5378®65J4; in
Balance
sur.289,798 def.1,396,682 1883, 5618®64% ; in 1884, 4914® 61; in 1885,453i®56i8; in 1886, 5138
—(V. 50, p. 139, 735, 910; V. 51, p. 84,172, 242, 243 ; V. 52, p. 6 7 9 , @ 6 0 ^ ; in 1887, 531a® 6 0 ; in 1888, 5 2 ^ 5 6 5 8 ; in 1889, 50^4®56; in
902.)
1890, 4738®5612; in 1891, to July 17 inclusive, 495q®53.
106
INVESTORS’ SUPPLEMENT.
[You L III
jolt,
1891.]
RAILROAD
STOCKS
AN D
BONDS.
1 0 #
Subscribers w i ll confer a great favor by g iv in g Im m ediate notice o f any error discovered In tbese T a bles.
Bonds—Princi
RAILROADS.
INTEREST OR DIVIDENDS.
Miles Date Size, or
When Due.
Amount Rate per When Where Payable, and by pal,
of
Eor explanation o f column headings, &c., see notes of
Stocks—Last
Par
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Dividend.
Whom.
Pennsylvania—Stock..................................................
$50
Gen mort., $ & £ ...................................................... 455 1867
1,000
Consol. M. for $100,090,000, s. fund, not drawn.. 1455 f 1873 1,000
i l 879 1,000
do
do (same lien as consol. 6s) gold...............
Bonds (P. W. & B. stock as collat.) s. f., not dr’n.r 571 1881
1,000
1876
Navy Yard mort. (extended 20 years in 1881).. .r
5,000
1883
Collateral trust loan, gold (s. f. *2 p. c.) not dr’n.c*
1,000
1881-4 1,000
Penn. Car Trust (in series payable 1io yearly) —
Equip.Tr. (ser. “ A” to “ H,’’payable one-tenth y’rly)
1886-9 1,000
1889
■Equip. Tr. gold loan (s. f. 5 p.c.) not drawn....... c*
1,000
1889
Del. Ave. Market Co. 1st mortgage...................... r
5,000
Pennsylvania Company—Stock..................................
50
1877
Bonds, sec. by P. Ft. W. & C. stock (s. f.dr’n at 105.r
1,000
Bonds, g., sec. by pl’ge & guar. (s. f. not dr’n)c*&r
1881
1,000
63
Pennsylvania & Northwestern—Stock........................
50
8 1873
Bell’s Gap 1st mortgage, Bells Mills to Lloyds.c*
500
26 1875
Extension 1st mortgage........ ............................ c*
1,000
26 1883 50Ó &c.
Consol, mort. (for $550,000) s. fund not dr’n.c*
37 1886 500 &c.
Clearfield & Jefferson 1st mortgage....................c*
63 1890
Penn. & N. W. gen. mortgage for $1,660,000.......
1,000
73 1889
Pennsylvania Poughkeepsie <£Boston—1st M., g. .c*
1,000
73 1890
2d mortgage for $500,000, gold..............................
1,000
Pensacola <6Atlantic—
1st M., gold (s. f. dr’n at 110), guar, by L. & N. .c* 160 1881
1,000
2d mortgage (2d on lands)................................... c* 160 1888
1.000
1884
1,000
Land grant bonds........................ .............................
Peoria <&Bureau Val.—Stk., 8 p. c. rent’l C. R.I.&P. ” 47
100
Peoria Decatur <6Evansville—Stock...........................
100
1st mort., gold (Peoria Div., Pekin to Mattoon) c* Ï 10 1880
1,000
1st m. (Evansv.Div., Mattoon to Evansville,) g.c* 135 1880
1,000
Second mortgage, g o ld .........................................c* 238 1886
1,000
This company owns. $10,890,950 stock of the Philadelphia Wilmington
& Baltimore Railroad, and the four percent bonds of 1921 are purchased
yearly, if obtainable at not over par, with the surplus proceeds of Phila
delphia Wilmington & Baltimore dividends.
Interest on general mortgage 6s of 1867 is payable on coupon bonds
January 1 ana July 1; on registered bonds, April 1 and October 1. In
terest on consolidated 6s o f 1873 is payable on coupon dollar bonds
on June 15 and December 15; on coupon sterling bonds, January 1 and
July i ; on registered bonds quarterly, March 15, &c. Interest on
consolidated 5s of 1879 is payable on coupon bonds March 1 and Sep
tember 1 ; on registered bonds, quarterly, March 1, &c.
The collateral trust loan of 1883 is secured by the deposit of mortgage
bonds of subsidiary lines to the par value of $12,500,000.
The equipment trust bonds of 1889 have a sinking fund of 5 per cent
yearly, and if bonds cannot be bought at par the sum is to be invested
In new equipment to be subject to the trust.
O p e r a t i o n s , F i n a n c e s , & c .—The total cost to the Pennsylvania Rail
road Company o f the stocks and bonds of other companies held in its
treasury was, up to January 1,1891, $113,183,734 (par value of the
same, $150,993,328), most of which is represented on the other side of
the balance sheet by issues of Pennsylvania Railroad stock and bonds
and other debit items; the balance to credit of “ profit and loss” was
$22,017,793.
Its guaranteed securities are bought up by the Pennsylvania Railroad
Company with 1 per cent of the net income yearly, and $7,125,050 so
purchased were held on January 1,1891. The sinking fund for consols
January 1, 1891, held—Consols, $1,771,980; real estate mortgages,
$2,093,900; cash, $29,813.
From January 1 to May 31, 1891 (5 months), gross earnings on
lines east of Pittsburg and Erie were $26,034,756, against $26,786,507
in 1890; net, $7,650,530, against $7,919,166 in 1890. For same
periods on lines west of Pittsburg and Erie gross earnings in 1891
showed a decrease of $1,258,945 compared with 1890 and the net earn
ings an increase of $34,544.
The report for 189|0 was in the Ch ronicle , V. 52, p. 371, 389, 392. A
summary of the total business of 1889, compared with previous years,
sis shown in the follow ing:
EARNINGS ON ALL LINES BOTH EAST AND WEST OP PITTSBURG & ERIE.
1888.
1889.
1890.
« r o s s earnings....................$116,509,293 $122,917,337 $133,521,623
Operating expenses............
80,737,336
83,811,128
92,003,365
Net earnings................ $35,771,957
$39,106,209
$41,518,258
The income account has been as follows, the “ net income ” given in
4he first line being the amount of income after deducting interest pay
ments.
INCOME ACCOUNT OP PENNSYLVANIA RAILROAD COMPANY.
1888.
$
9,979,299
—160,501
9,637
1889.
$
10,870,351
+138,712
16,316
1890.
$
11,030,401
+396,885
1,644
Balance...........................
From this balance deduct—
Advances to Penn. Co........
Payments to trust fund.......
•Consol, mortgage redeemed.
Allegh. Val. RR. C©.—Defic’y.
9,809,161
10,992,747
11,425,642
93,498
324,800
119,005
Am.SS.Co.--To meetint.guar
Extraordinary expenses___
90,000
1,161,547
87,433
324,800
160,179
188,510
45,000
1,530,913
Net income Penn. RR. Div’n
Net loss or gain on N. J. Div.
Loss on Pitts. & Erie D iv ...
Balance to credit of income
Dividends.............................
To oredit of profit and loss.
Bal.in set’m’t o f claims, &c.
Expenses of floods June,’89.
1,020,000
71,121
324,800
100,730
1,632,024
2,336,835
2,169,327
2,768,198
8,655,912
9,256,315
7,040,963
(5) 5,327,270 (5) 5,327,270(512)6,241,873
1,713,693
—93,272
3,328,642
+119,370
—2,609,325
3,014,442
1,064,704
Balance...........................
1,949,738
1,620,421
838,687
22,017,794
Bal. profit and loss Dec. 31.
20,068,055
19,229,369
—(V. 50, p. 139, 276, 314, 335, 3 4 8 , 354, 392, 452, 561, 590, 622, 771,
801, 904; V. 51, p. 876; V. 52, p. 322, 371, 3 8 9 , 3 9 2 , 479, 498, 681.)
P e n n s y l v a n ia C o m p a n y .—The Pennsylvania Company is a cor
poration chartered by the Pennsylvania Legislature, April 7,1870, dis
tinct from the Pennsylvania Railroad, and it operates all the leased
lines west of Pittsburg. Its stock and $2,500,000 4^2 per cents are
owned by the Pennsylvania Railroad Company. Besides the bonds
given above as outstanding $1,657,000 of 6s and $533,000 of 4*28 are
held in the sinking fund.
The registered bonds are secured by deposit of $4,000,000 of Pitts
burg Fort Wayne & Chicago special stock. The gold bonds of 1921 are
secured by a deposit in trust of the leases of the Pittsburg Fort Wayne
& Chicago and the Cleveland & Pittsburg railroads and are also guar
anteed by the Pennsylvania Railroad Company, the trustees or the
mortgage being Wistar Morris, John P. Green and Henry D. Welsh.
123,082,050 3 see rem
19,997,820
6
27,480,020
6
4,998,000
5 g.
7,915,000
4
1,000,000
5
9,900,000
4Ljg.
1,750,000
5
6,200,000
4
2,932,000
4 g3,000,000
43jo
20,000,000
4
1,543,000
6
19,467,000
4 1ag.
2,000,000
21«
180,500
7
88,000
6
158,500
6
1,000,000
6
233,000
5
1,500,000
6 g250,000
6 g.
3,000,000
360,000
925,000
1.500.000
8.380.000
1.287.000
1,470,000
2,088,000
M. & N.
Various
Various
Various
J. & J.
J. & J.
J. & D.
Quar’ly.
Q.—F.
M. & S.
M. & S.
Q —J.
J. & J.
J. & J.
J. & J.
F. & A.
A. & O.
J. & J.
J. & J.
J. & J.
J. & J.
Philadelphia, Office.
Phila. Office & London.
Phila. Office & London.
Philadelphia, Office.^
Phila.,Pa.Co.for Ins.&c.
Phila., Pa.Co.for Ins.&c.
Phila. .Provid’tL. &T.Co.
do
do
Phila., S. Dep. & Ins. Co.
Phila., Gir’d Life &c. Co.
Phila., 233 So. 4th St.
Pittsburg, Co.’s Office.
Phila., Tr. S. D. & I. Co.
N. Y., Nat’l City Bank.
Phila., Guar. Trust Co.
Phila., 105 S. Fourth St.
do
do
Phila., Guar. Trust Co.
do
do
do
do
July,’90, coup, last paid
do
do
May 29, 1891
July 1, 1910
June 15,1905
Dec. 1, 1919
July 1, 1921
Jan. 1, 1901
June 1, 1913
1891 to 1894
1891 to 1899
Sept. 1, 1914
Mar. 1,1909
For 1883
July 5, 1907
July 1, 1921
July 2, 1891
July 1, 1893
Aug. 1, 1905
Apr. 1, 1913
Jan. 1, 1927
Jan. 1, 1930
Jan. 1, 1939
Jan. 1, 1910
6 g. F. & A. N. Y .,23 Nassau Street. Aug. 1, 1921
6
F. & A.
do
do
Feb. 1, 1928
A. & O.
do
do
Apr. 1, 1894
6
4
F. & A. N.Y. ,Ch.R.I. & Pac. RR. Aug., 1891
6 g. J. & J. N. Y., Central Trust Co. Jan. 1, 1920
do
do
-Sept. 1, 1920
6 E- M. & S.
do
do
Nov. 1, 1926
5 g. M. & N.
The whole number of miles operated or controlled by this company is
3,496. The income account has shown the following results after pay«
ment of all charges: deficit in 1884 of $710,220; deficit in 1885 o f
$1,094,671: deficit in 1886 of $200,674; in 1887, net profit, $675,516;
In 1888, loss, $74,891; in 1889, net profit, $727,802; in 1890, net
profit, $1,081,960. (V. 50, p. 590; V. 53, p. 21.)
P en n sy lv an ia Sc N orth w estern .—«Owns Bellwood, Pa., to
Irvona, Pa., 26 miles, and Irvona to Horatio, Pa., 37 miles; total, 63
miles. A consolidation January 1, 1890, of the Bells Gap and Clear
field & Jefferson roads. Before consolidation Clearfield & Jefferson
paid a dividend of 2^2 per cent, and Bells Gap paid : In 1882,15 scrip ;
in 1883, 6 ; in 1 884,3; in 1885 to 1888, inclusive, 5 ; in 1889, 2 J .
Since consolidation dividends have been—in 1890, 5 per cent; in 1 >oi,
Jan. 2, 2 *2 ; July, 2^2. Of the $1,660,000 general mortgage bo:.us au
thorized, sufficient are held to retire the prior issues, when due. Five
per cent car trusts due 1891 to 1900, $423,000, due $50,000 yearly on
March 1. In April, 1891, it was voted to increase the stock from $1,660,000 to $2,000,000, for double tracking, &c.
Gross earnings in 1890, $809,042 ; net, $250,388 ; surplus over
interest, $144,320. E. J. Berwind, Pres’t, Philadelphia.—(V. 50, p. 37 )
P en n sy lv an ia Poughkeepsie Sc B o sto n .—Owns from Slatington, Pa., to New Jersey and New York State line, about 73 miles. Con
nects with lines running to the Poughkeepsie Bridge. Completed in
November, 1889. Trustee of 1st mortgage o f 1889 is the Holland Trust
Co. Interest was defaulted January 1, 1891. and in February, H. H.
Kingston, of Philadelphia, was made receiver. Receiver’s certificates
for $200,000 have been issued to pay off car trusts. Stock authorized
$2,000,000; outstanding, $1,750,000; par, $50. President, W. W.
Gibbs, 411 Walnut St., Philadelphia.—(Y. 50, p. 353, 423 ; V. 51, p. 609;
V. 52, p. 351.)
P en sacola Sc A tla n tic .—Pensacola, Fla., to River Junction, Fla.,
160 miles. Operated by Louisville & Nashville. Stock, $3,000,000 (par
$100), $1,556,300 of which, and $1,000,000 first mortgage bonds, all
the seconds and $925,000 land grant bonds were on June 30,1890, held
by Louisville & Nashville, the first mortgage bonds and $1,550,000
stock being pledged under its 10-40 mortgage; 1 1 -1 0 per cent of first
mortgage bonds may be drawn annually at 110. Land grant unsold
June 30, 1890, 1,421,920 acres; sales m 1889-90, 33,054 acres for
$33,395. In 1889-90 gross earnings were $368,839; net, $21,687; defi
cit for year under interest, &c., $178,835, against $209,671 in 1888-89.
Peoria & B u reau V a lley.—Owns from Bureau Junction to Peo
ria, 111., 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.
P eoria B ecatu r Sc E v a n sv ille .— ( See Map Evansville <6 Terre
Haute.)—Owns from Pekin to Evansville, 235 miles; branch, 6 miles;
leases, Pekin, HI., to Peoria, 111., 10 miles; through Decatur, 3 miles;
total, 254 miles. This road is a consolidation of thé Pekin Lincoln &
Decatur Railroad and the Decatur Mattoon & Southern and the Grayville & Mattoon. It is operated in harmony with the Evansville & Terre
Haute. The 1st mortgage bondholders have the right to cast ten votes
for each of their bonds at stockholders’ meetings. From July 1,1890,
to June 30, 1891 (12 months), gross earnings on 254 miles were $875,790, against $778,912 in 1889-90. Last reportin V. 51, p. 679. In 188990 gross earnings were $778,912 (against $740,587 in 1888-89); net,
$322,451; interest on bonds, $269,820 ; other interest, $16,371 ; rentals,
$28,500 car- trusts redeemed, $33,000; deficit for year, $25,240; due
Evansville & Terre Haute, $168,255. (V. 50, p. 107 ; V. 51, p. 570,679.)
P eoria Sc E astern .—Owns from Pekin 111., to Indianapolis, Ind.,
202 miles, and has a lien of $5,000,000 on Springfield Division, In
dianapolis to Springfield, 140 miles. This road is operated by Cleveland
Cincinnati Chicago & St. Louis.
The Ohio Indiana & Western was sold in foreclosure February 20,
1890, and reorganized per plan in C h r o n i c l e , V . 49, p. 616. Its suc
cessor, the Peoria & Eastern, is leased till April 1,1940, to the Cleve
land Cincinnati Chicago & St. Louis, which guarantees the interest, but
not the principal, of the first consols, and owns one-half the $10,000,000
stock, par $100. If the Peoria & Eastern’s earnings added to the net in
come (up to $200,000) over operating expenses pi the Springfield Divi
sion of the Ohio Indiana & Western exceed the sums necessary to
pay the Peoria & Eastern’s fixed charges and to reimburse the Big Four
for all advances up to that time, the surplus is to go to the second con
solidated incomes, and then if a surplus remains this is to go to the
Peoria & Eastern itself. The consolidated mortgage of 1890 covers, be
sides the road owned, the $5,000,000 purchase money lien on the Springfield Division. See abstracts of the consolidated mortgage and of the
consolidated income mortgage in V. 51, p. 246, and of Ohio Indiana &
Western mortgage, V. 47, p. 201. From Jan. 1 to March 31, 1891 (3
months), gross earnings were $366,970, against $333,342 in 1890; net,
$79j619, against $97,377. (V. 50, p. 72,314,423, 801,834 ; V. 51, p. 246.)
" p e o r í a & " P e k in U n lo n .—Owns from Pekin to Peoria, 10 miles on
each side of Illinois River; total operated 20 miles. The road is a union
road, and the stock of $1,000,000 was taken by the different Peoria RR.
companies, and they pay a rental for the use of the road and also pay
terminal charges. See full description in V. 36, p. 253. Dividends
in 1891, July, 2 per cent. See V. 53, p. 22. Receipts in 1888, $412,433 ;
net, $176,110; surplus over interest and charges, $11,355. In 1889,
ggoss, $ 453,643 ; net, $200,009 ; surplus, $36,938. (Y. 53, p. 22.)
T P e r k lo m e n .—Owns from Perkiomen Junction, Pa., to Emaus Jun c
tion, Pa., 39 miles. Stock subscription, $38,040. Reorganized injjl887
°csL
.H alls
•®hicfc'%;
' Muncy'
Susquehanna
__
leado y/
Run
V ^ ^ t^ B e a r Cr. Je.
Watsontown
escopeo
■Citye
PHILADELPHIA & READING,
RAILROAD
H illville
..Allenwoodl
Lakeville
M AP OF TH E
'
riburgh
SÄ
Ogdènsburg
ilte Haven
TTp. Leh igh ,
D rifton (
U0
«&*on
l»Hazleton.
AND ITS CONNECTIONS.
Drifton Jc.
7
tc0>tvtfLake
¡s*
"Blairstown
L*'/
•V/i
ithumberlan'd
Laurelton
-SUNBURY
Xßr
1\
oVAfl
H t Carmel ,
WJntlGapi
¡¡A
MiddteBurgh
■'Trev.octon
SLATINGTO I& g&
„
Bemardsvillfe
BathT
Easton
X oàü and^
'»Pa.fO
o.He Allister
PENN.
B r o o k s id e ,
jHellertown
—■
— éé-
¿$y -Ly
sowf t
‘ pETCrove
>
P
HewHlooW'®
Ä
Sbermanedale o
s
^ 'e
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J l ¿Ab»0
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r.A
rf A
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-^ ^ ^ ^ ^ ""W e b a n o n
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vt»i
Bittenhouae j
Gap-;
Barto
“B
R E A D IN G
at.
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»eew
Coopersburgh
feaapi
.Lick dale,
HjP^ñ
jWOO(si¿íStVÍ
Fleming ton.
Hamburg^
»T
Cold Springe,
_ _
\
X
I 'V
1
°j
<2j ^ olebrookda\e
Sinking Spr]
^mngS
'^li
A
"^ ^ 7
XT
H opew eu/
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ÍJamesburgh
NeW ^ P y t k - n ^ g t o n f
Doylestowni
Hartsj
c ^ o . ^ yE phrata
^onewago
v/
Lambertville^
Lansdale
„
«■*5 * -
>ttoYT®
v y f 0“
Hope
-où»-
Oj
V
j j ^
(
tv »
v ille l
FarmingdaleJ
T 'i> v
'B ordèntown
P h oen ixv ill>
33
Î Kinkora
) Dillsburg
jTewH ollahd
“ *
,$>.
V
-^
Furnace
LANCASTER
^
<)
B yW î S
>Quarryville
Galley Je.
HanoverJ
P H IL A D E L P
^CAMDEN
\Haddonfield
Chadds, 'F o rd J k -^ -S «*’
rn
Grenloch ’
bodbury
5Ö»
'Oxford.
T uckert on t
BlackLtockr
M
A /
Bruceville
R
____
7^
n
lew Castle
Neao7
lu i
Bbbvale
BarnegatJ
,Manasquan.(
[V ol.
*>
LeWlston
"TCSib.
_
LHandver-fJc-.
Gettysburg {
Manchester^,
P
îït.H o lly
SiV
~W. Chester d-
YORKr
*< > *
■^r
\
° X o f k Sulph Sprs.
C'e„„
fBurlington
INVESTORS’ SUPPLEMENT.
IS B W ^ r ^
^HERNDON
3<v
Chester
M*
ML
l i n ^
„
i Tamaqua
----- "lahanov*.
^
.
City
■
fPom pton
pa'6
«S*?
She
108
^W illiam spoR
JerseyShore
J u l y , 1891. J
BAILBOAD
STOCKS AN D
BONDS.
109
Subscribers w ill confer a great fa v or by g iv in g Im m ediate notlee o f any error discovered In these T a bles.
RAILROADS.
Rond»—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
¡For explanation o f column headings, &c., see notes of
Amount Rate per When
of
Par
Where
Payable,
and
by
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
Peoria A Eastern—Ind. Bl. & W. 1st mort., pref..c<fcr
Ohio Indiana & Western 1st mort.,pref., gold.. .c*
Consol, mort. for $10.000,000, interest guar__ e*
2d consol, mortgage,income, non-cumulative. ..c
P eoria A Pekin Union—1st mortgage, gold........... c
2d mortgage, gold (issued for incomes).............. c
Perkiom en—IstM., ser. I (1st l’n) gu. by P.&R.,g.c*
1st M., ser. 2 (2d l’n) g., guar, by P. & R. (end.).c*
Petersburg—Stock........................................................
Guar. pref. stock, 3 per cent, lien prior to mortg.
1st mort. (payable $25,000, due yearly Jan. l)c* r
Mort. bonds, class A,$200,000 reserved for 1st M.
Mortgage bonds, class B ..........................................
Philadelphia A Baltimore Central—Stock................
Gen.M.(NewlstM.)for$2,500,000,$1,075,0004^8
PhUa. A Erie—Sunb. & E. 1st mort. (ext. in ’77) .c&r
Gen. M., g.,guar.byPa.RR.($5,263,000 g., 5s).c&r
General mortgage, gold, guar................................r
PhUa. Germ. A chestnut H ill—1st M., gu. by Pa. RR.r
Phila. Germ. ANorrist'n—St’k 12p.c.rent.,P.&R.RR.
Phila. Harrisburg A Pittsburg—1st M.for $2,000,000
Philadelphia A Reading—Stock..................................
1st mortgage, $ and £ .................................... ....... c
Mortgage loans o f 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.,8.f. drawn at 100. See Y. 48, p.260.c
202
342
202
202
20
20
38
38
59
59
59
59
79
79
40
287
287
7
29
1879 $100&c.
1888 5oo &c.
1890
1,000
1890
1,000
1881
1,000
1881
1,000
1887 100 &c.
1888
1,000
100
100
1869 500 &c.
1881
1881
50
1881
1,000
1857
1,000
1869
1,000
1869
1,000
1883
1,000
50
1890
50
1843 $ & £
1844-9 1,000
1857 500 &c.
1868
1,000
1871 200 &c.
1873
1,000
$1,000,000
7
J. & J. N. Y., Drexel, M. & Co.
500,000
5 g. Q.—J.
do
do
8,103,000
4
A. & O.
do
do
4,000,000
4
April 1 N. Y ., when earned.
1,495,000
6 g- Q‘ —F. N. Y., Central Trust Co.
1,499,000
41ag. M. & N.
do
do
799,600
5 g- Q. —J. Phila., Pa. Co. Ins. on L.
1,125,000
¿0
do
5 g- Q —J.
960,800
3
Richmond.
323,500
1
J. & J.
do
180,000
8
J. & J. Richm’d & Petersb’g.Va
693,000
5
J. & J.
do
do
800,000
6
A. & 0.
do
do
2,495,650
2,075,000 413 & 5 M. & N. Phila., Penn. RR. Co.
976,000
7
A. & O. Phila., Penn. RR. Co.
13,943,000 5 g.& 6 g. See rem. Phil., Pa. RR. & London.
4,755,000
d g- A. & O. Phila., Penn. RR. Co.
1,000,000
4*2 M. & N. Phila., Penn. RR. Office.
2,231,900
3
Q.—M. Phila., Treasurer of Co.
(?)
5 g39,488,362
1,512,700
6
J. & J. Philadelphia.^; London.
954,000
6
J. & J. PhUa., Of., 227 S. 4th St.
79,000
4*2 J. & J.
do
do
2,700,000
7
A. & O.
do
do
18,811,000 6 g. & 7 J. & D.
do
do
9 364,000
do
do
6 g- A. & 0.
Jan. 1, 1900
Apr. 1, 1936
Apr. 1, 1940
Apr. 1, 1990
Feb. 1, 1921
Feb. 1, 1921
Jan. 1, 1918
Jan. 1, 1918
May 1, 1891
July 1, 1891
Jan., 1892-’98
July 1, 1926
Oct. 1, 1926
Nov. 1, 1911
Oct. 1, 1897
July 1, 1920
July 1, 1920
May 1, 1913
June, 1891
1915
July, 1910
July, 1910
July, 1910
Oct. 1, 1893
June 1, 1911
Oct. 1, 1897
„„„
+ £ «To i o o “ 7
“ " ? auing
-November 30,1890, on loan Invested in it November 30,1890 (as per balance sheet), $72,617,301
•account, $918,023. In year ending November 30.1890. cross earnines over
liabilities. The Philadelphia & Reading also held November 30,
1890, stocks and bonds of other companies amounting to $12,904,914
i S f g & t i f t s s f l i ,109’ i”,erM‘- « *
^
" 3
besides $1,966,777 deposited with trustees.
S t o c k a n d B o n d s .— The dividends paid on Philadelphia & Reading
stock from 1870 to 1875, inclusive, were 10 per cent each year; in 1876
? 1e01r§oi11? ? ? in 1377 without foreclosure. From July 1,1890. 2 per cent was paid and nothing since.
Price of stock in New York—In 1879, 60® 78; in 1 8 8 0,13ia@72%; in
earnings were $484,797, against
’ ne^’ $*80,657 against $168,663. In year ending 1881, 50®74%; in 1882, 46%®651a; in 1883, 4614® 611s; in 1 884.167s
1890, gross earnings were $498,918; net, $187,455; sur ®605s; in 1885,13®26; in 1886,181a®7378; in 1887,34®71% ; in 1888
plus over charges and dividend on preferred stock, $56,519. Dividends 441q® 69; in 1889. 36®50; in 1890, 2634® 481a; in 1891, to Julv 17
o n common stock in 1889, 2 per cen t; in 1891, May 1, 3. (V. 50, p. 312.) inclusive, 277e® 35.
In February, 1891. it was reported the company would issue an addi
a n ? £ ! ia.2!e lp £ la w
C e n tr a l.—Philadelphia to West¿ “ f t S : Westchester Junction to Octoraro, Md„ 46 miles; tional $3,000,000 of car trusts. See Y. 52, p. 351.
Company guarantees $2,000,000 bonds of the Philadelphia Harris
7 m iles; total operated, 79 miles. The burg
& Pittsburg—which see.
* Baltimore Railroad holds practically all
The consolidated 5s of 1882 are payable at par at any time.
is a u a n
st9ok, and operates the road as part of its system. In
The
general, and first, second and third preference income mortgages
$156’391; 8urPlus over charges, $5,677, against (trustee
of all, Pennsylvania Company for Insurance on Lives, etc. o f
Philadelphia) cover in addition to the 327 miles of road owned the title
P h ila d e lp h ia & E rie.—Owns from Sunbury to Erie, 287 miles- to leased lines (mostly leased for 999 years) all real estate, rolling stock
Foraaerly Sunbury & Erie Railroad. It is leased to Pennsylvania Railvessels of the company, $8,000,000 Philadelphia & Reading Coal <fe
Toad. for9 99 years, and actual net receipts are paid as rental. Tlie sen- and
Iron Company stock, as well as the real estate of that company, and
guaranteed by the Pennsylvania Railroad, and the in- subject to a mortgage to Philadelphia & Reading Railroad Company
terest on the 6s is paid J. & J., on the 5 per cents A. & O. The Pennsyl dated July 1,1874, stock in other coal and iron companies amounting
vania Rauroad Company owned December 31, 1890, $3,501,800 com- to $7,448,975. An abstract of the general mortgage was in the C h r o n i
m* $^>400,000 preferred stock and $4,143,000 general mortgage c l e , V. 46, p. 679, and of the preference income mortgages in V. 47, p.
*£“ 4 ? , ao d ij16, cit/ ? f Philadelphia (sinking fund) $2,250,000 common 141 and 142. The third preference convertible bond's Were issued in ex
i o ^ ^ pital Stock—Common, $7,975,000; preferred 7 per cent, change for the old convertible 7 per cents. They are stamped with an
4pz,4uu,uuu) par, q>oU.
agreement making them convertible at option of holder into common
31>}§91 (5 months), gross earnings were stock. S e e V. 50, p. 276. Of the Coal & Iron Company’s bonds as given
$ T>u»1j H i ^ a.g8t,-i% ^ 8J8,8^ 3 m 1890; net> $661,863, agst. $647,875.
in the table above, $765,000 are held by the sinking fund.
. Tncrcport for 1890 in Chronicle, V. 52, p. 278. show ed sttoss earnIn February, 1889, the first and second preference bonds received full
ings, $5,113,787; net, $1,698,192; surplus over fixed chargefand 7 per interest,
but the third preference bonds received only 2*2 per cent. In
cent on preferred stock, $322,356. (V. 50, p. 2 7 4 ; V. 52, p. 2 7 8 .) 1
1890 only
of 1 per cent was paid on the first incomes, and in Feb.
P h ila d elp h ia G erm a n tow n & Chestnut H i ll.—In Philadel' 1891, no interest was paid on any of the incomes. See V. 52, p. 124. Net
phiafrom Germantown Junction, on Connecting Railway, to Chestnut earnings are defined in the income mortgages as the profits of the rail
Hill? 7 miles. From May 1,1883, leased for 30 years to the Pennsyl road company for each fiscal year ending November 30, derived from
vania Railroad Company, which guarantees 4 12 per cent on the bonds. all sources, after paying operating expenses, taxes and existing rentals,
n , ? « i (inneL n a? 1I|g?' Pennsylvania Railroad owns $999,750 of guarantees and interest charges (but not fixed charges of the same sort
the $1,000,000 stock (par, $50). Gross earnings in 1890, $240,407; net, subsequently created); also, after deducting expenses of “ renewing,
over expenses and taxes, $62,317 (against $67,382); interest, $45,000. replacing and repairing its said property and premises, including such
T>?*1i 11xrd e .,*.l,,tt G e r m a n t o w n & N o r r is t o w n .—Philadelphia, reasonable improvements thereof and additions thereto as shall be nec
Pa.., to Norristown, Pa,., 17 miles; Germantown Branch, 3 m iles; Ply- essary for the safe, proper and economical operation of the same.”
in
’1
4 m iles; total, 34 miles. Leased November (V. 47, p. 256.)
O p e r a t i o n s , F i n a n c e s , & c . —The annual charges coming before
& Beading Railroad for 999 years at a rental
•or $2b9,623 and $8,000 yearly for organization expenses. Dividends of dividends on stock were as follows, by the report of 1889-90:
12 per cent per annum are paid regularly. Stock, $2,246,000—par, $50. Rentals and interest both companies..................... ................. $8,004,200
722,000
P h ila d e lp h ia H arrisb u rg & P ittsb u rg .—Owns from Harris- Annual payment for car trusts..................................................
Ba., to Shippensburg, on the Western Maryland Railroad, 40 miles, $23,948,000 of first preference bonds ® 5 per cent............... 1,197,400
$16,176,000
of
second
preference
bonds
®
5
per
cent..........
808,800
with branches, 1 mile. Opened in April, 1891, and leased for 999 years
929,500
40 000
P£la SLReading, which guarantees the bonds. (Y. 51, $18,590,000 of third preference bonds ® 5 per cent.............
p. 383, 459; V. 52, p. 124, 643.)
Total of all charges preceding stock.................................. $11,661,900
'iii* ? * .R e a d in g .—(’See Mop)—Line op R oad—Owns
From Deo. 1, 1890, to May 31,1891 (6 months), gross earnings of
®min line, Philadelphia to Mount Carbon, Pa., 98 miles; branches
owned, 229 miles; leased lines, 549 miles; roads controlled, 231 miles; the railroad company were $9,810,066, against $9,449,382 in 1889-90;
net, $4,083,569, against $3,641,966; surplus over charges and improve
total operated November, 1890,1,106 miles.
1899, the Port Reading Railroad was organized in the ments, $329,266, against deficit of $143,856. The Coal & Iron Com
T^ter®8!; of this company to build 20 mues of road from Bound Brook to pany in same period had net earnings of $202,563, against $60,802
New Y °rk ), where extensive terminals will m 1889-90; deficit under charges and improvements, $731,000, against
$759,516. Total result for both companies was deficit under charges
be established. See V. 51, p. 681; V. 52, p. 124.
Erases, &c.—The Philadelphia & Reading Company and improvements in 1890-91 of $401,734, against deficit of $903,372
wus chartered April 4,1833. Itleases anumberof roads in Pennsylvania; in 1889-90. See V. 52, p. 974.
The fiscal year ends November 3 0 ; the report for 1889-90 iu V. 52, p.
also, the North Pennsylvania Railroad and Delaware & Bound Brook,
g
llaeufr2m -Philadelphia to New York, and controls Reading 98,120,122, showed the follow ing:
4
j mbia. The fiscal year ends November 30. The annual election
EARNINGS AND EXPENSES.
is held early m January.
1887-88.
1888-89.
1889-90.
Railroad—
1 dF<?oMa/ ’ 1880>
were appointed and held possession till May,
$
$
$
1883. in June, 1884, the company again went into receivers’ hands, Passenger traffic...............
3,407,290
3,639,546
3,898,291
and so remained till January, 1888.
Coal traffic.........................
9,478,760
8,954,004
9,305,536
In February, 1 8 8 6 , the Drexel-Morgan syndicate was formed, and the Merchandise traffic..........
5,621,296
5,938,976
7,210,380
plan of reorganization was published at length, as modified, in the Miscellaneous....................
952,183
420,448
448,480
C h r o n i c l e of December 1 8 , 1 8 8 6 , on p. 747 ( V . 4 3 , p. 7 4 7 ) .
United States mail............
62,017
65,640
71,830
_ Hf^er the reorganization agreement the right to vote on stock is Income from stks. & bds.,
vested in five trustees, these including J. Lowber Welsh, J. Pierpont- . from steam colliers, &c.
1,293,791
1,518,761
1,231,963
IKSFSij -¿olln, Wanamaker, Austin Corbin, till August 1,1892. They
«leotth e Board of Managers and officers on the 2d Monday in January.
Total earn’gs RR. Co..
20,815,337
20,537,375
22,166,450
In December, 1890, the Philadelphia authorities granted the company Operating expenses.........
11,165,999
12,396,706
13.901,188
Pe^
8ir . to. extend its line by elevated railroad ten blocks to Twelfth
Net earnings RR. Co.
and Market streets. The extension is estimated to cost about $8,500,000
9,649,338
8,140,669
8,265,262
and the Reading will guarantee the 5 per cent bonds of the Terminal Net earnings C. & I. C o...
28,652
df.147,850
df.151,158
Company to that amount. See V. 52, p. 391. (V. 51, p. 876; V. 52, p. 351.)
Total net both Co’s ...
Wii? reported that an important contract had been
9,677,990
7,992,819
3,114,104
Deduct—
made with the Coxe Brothers by which this company would secure an
Increase of about 1,500.000 tons a year in its anthracite coal carrying Rentals RR. C o................
2,882,582
2,842,319
2,830,744
Interest RR. Co................
the first shipment to be made October 1. See V. 52, p. 796.)
4,516,433
4,085,139
4,351,312
The Philadelphia & Reading Coal & Iron Company is a corporation Interest Coal & Iron C o..
834,872
826,523
822,126
formed (Dec. 12,1871,) for the purpose of owning and working the exiensive coal properties of this company. The Philadelphia & Reading
Total deductions........
8,233,887
7,753,981
8,004,182
RR. Co. owns all the stock ($8,000,000) of the Coal & Iron Co., and had
sur.1,444,103 sur,238,838
sur 109,922,
no
INVESTORS’
SUPPLEMENT,
[V ol. L lll,
RAILROAD
J u l y , 1891.]
STOCKS
AND
BONDS,
111
Subscribers w i ll con fer a great fa v or by g iv in g Im m ediate notice o f any error discovered In these Tables.
RAILROADS.
on first page of tatoles.
Philadelphia <6 Beading—( Continued.)—
Consol. M. of 1882, stamped (payable at notice) ,c’
1st pref. income mort., not cum. ($24,400,000) .c
2 d pref. income mort., not cum. ($22,500,000).. c:
3d pref. inc. M., not cum. ($5,255,000 convert.).o’
Deferred incomes (coming after stock)................
Car tru st, Series A , $100,000 due eacto F. & A .c’
Car trust, Series B, $51,000 due each. M. & S---- c’
Car trust, Series C, $30,000 due Q.—M ........... .c'
Car trust, Series D, $75,000 due Q.—F ..............o’
Equipment notes for $3,000,000..........................
Mortgages on real estate..........................................
p. & R. Coal & I. purchase money & real estate M.
Phila. (6 Beading Term.—1st M.for $8,500,000,g. ,gu.
Phila. & Trenton—Stock 10 p. c. rental, Penn. R R ..
Philadelphia Wilmington <&Baltimore—Stock..........
Plain bonds............................................................. r
Plain bonds, s. fund $16,000 yearly, not drawn
Plain bonds, s. fund $20,000 yearly, not drawn, .r
Plain bonds.................................. ................... .......r
Plain bonds..................................... ...................:. .r
Plain bonds........................................................ .. .r
Piedmont & Cumberland—1st mortgage, goJ.d___c*
Pine Creek—1st mortgage, guar. prm. ana int.......r
Pittsburg Akron <£- W.—1st M. for $3,630,000, g., c*
Pittsburg Cincinnati Chicago & St. Louis—Pref.......
Chic. &Gt. East. IstM . (Chic, to Logansport)..c*
Col. &Ind. Cent. IstM. (Colum. to Ind. & br.).c*
i
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
of
of
Par
Rate
per
When
Where
Payable,
and
by
Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
327
327
327
327
1882 $500&c.
1888 l.OOO&c
1888
1,000
1888
1,000
1888
1,000
1883
1884
1887
1890
1891
39
’72-’84
1891
1872-4
1875
1880
1887
1887
1891
29 1886
75 1883
105 1890
Ï17 1863-5
208 1864
208 1864
93 1865
580 1883
37 1866
$5,767,042
5 g. M. & N. Phila., Of., 227 S. 4th St.
38,104,658
4 g. J. & J.
do
do
23,971,000
5 g. Feb. 1 38 per ct. paid in 1890
16,176,326
5 g. Feb. 1 5 p. ct. paid. Feb.. 1889
18,681,567
5 g. Feb. 1 2*2 p. ct. paid Feb., 1889
7,670,427
6
1,000
500,000
6
F. & A. Phila., Union Trust Co.
1,000
357,000
6
M. & S.
do
do
1,000
780,000
5
Q.—M. Phila., Fidelity Tr. Co.
1,000
2,544,000
5 g.- Q.—F. Phila., Prov’t Life & Tr.
(?)
(?)
2,175,075
500 &c. 12,230,106 5, 6 & 7 Various Phila., Of., 227 S. 4th St.
New York.
(?) •
5 g. Quar.
id o
1,259,100
2U}
Q.—J. Phila., Company’ s Office
50 11,819,350
3
J. & J. Phila., 233 S. Fourth St.
1,000
700,000
6
A. & O.
do
do
1,000
800,000
6
A. & O. Phil. Of. ;Bost.,Kid.Peab
1,000
1,000,000
5
J. & D.
do
do
1,000
1,000,000
4
A. & 0.
do
do
1,000
1,000,000
4
M. & N. Phila., 233 S. Fourth St.
1,000
1,000,000
4
J. & J.
do
do
1,000
650,000
5 g. F. & A. New York & Baltimore.
1,000
3,500,000
J.
&
D.
Phila.,
P.
&
R.
RR.
Co.
6 g.
1,000
2,450,000
New York.
5 g. A. & O.
100 21,852,346
1
N.Y.,Farmers’ L’n & Tr.
1,000
223,000
7
Various N. Ÿ., Union Trust Co.
1,000
2,631,000
7
J. & J.
do
do
1,000
780,000
M. & N.
7
do
do
1,000
715,000
7
A. & O.
do
do
1,000 15,131,000
do
do
5 g. A. & O.
1,000
552,000
7
J. & J.
do
do
Col. & Indianapolis Central 2d mortgage.......c*
Union & Logansp’t 1st M.(U’n City toLogans. )c*
hie.following
St. L. & Pitts,
cons.
M. ($22,000,000)..........e*
The
table
shows
traffic and joint earnings for eight years
Cincinnati
& Chicago
1st mortgage..
.
•excluding
theRichmond
business under
Central
Railroad of New
Jersey lease:
TRAFFIC AND EARNINGS OF RAILROAD AND COAL & IRON COMPANIES'
Coal carried
Coal from
(tons o f Merchandise lands o f C. <6 Cross re Net e'rnings
2240 lbs.), carried one I. Co., tons ceipts both o f both com
mile.
panies.
one mile.
2240 lbs. companies.
May
Jan.
Jan.
Jan.
Jan.
1,
lj
l'
1,
1,
1922
1958
Ï958
1958
1958
300,000 y’rly
1892 to 1904
1941
Apr. 10,1891
July 1, 1891
Oct. 1, 1892
Apr. 1'. 1900
June 1, 1910
Apr. 1, 1917
Nov. 1, 1922
Jan. 1, 1926
Aug. 1, 1911
Dec. 1, 1932
Apr. 1, 1940
May 15,1891
1893 & 1895
Nov., 1904
Nov., 1904
Dec., 1905
Oct. 1, 1932
July 1, 1895
O r g a n i z a t i o n , & c . —This company was formed in 1890 by consolida
tion (per terms in V. 50, p. 875) of the Chicago St. Louis & Pittsburg,
the Jefferson Madison & Indianapolis, the Cincinnati & Richmond and
the Pittsburg Cincinnati & St. Louis. For history of constituent com
panies see S u p p l e m e n t s prior to September, 1890. Controlled by the
Pennsylvania Co. through ownership of stock.
S t o c k a n d B o n d s .—The stock authorized is : Common, $45,000,000;
preferred, $30,000,000; par, $100. There were to be issued in the
consolidation about $23,000,000 of preferred stock and $21,000,000 of
common stock, in exchange for the stock of the constituent companies
on the following basis: Pittsburg Cincinnati & St. Louis Railway first
and second pref. and common to receive of new preferred $100 for two
shares ($50 each) of old stock; Chicago St. Louis & Pittsburg Railroad
preferred to receive $66 66 new preferred and $33 34 new common for
each $100 share of old stock; Chicago St. Louis & Pittsburg old comtnon to be exchanged for new common share for share; Jeffersonville
Madison & Indianapolis Railroad stock to receive $50 new preferred
and $50 new common in exchange for each $100 old stock. New com
mon stock for $4,600,000 will be given for accumulated and unpaid
dividends on the first preferred stock of the Pittsburg Cincinnati & St
Louis Railway. On May 23,1891, there was outstanding $19,552,420
common stock and $22,231,000 of preferred.
The preferred stock is “ non-cumulative and entitled to a dividend
of 4 per cent per annum out of the net earnings as declared by the
Board, with the right after 3 per cent has been declared on the
common to an additional 1 per cent, making 5 per cent in all.”
After 5 per cent has been declared in any year on both common and pre
ferred, the two stocks share equally.
Dividends on preferred: In 1891; May 15,1 per cent.
Price of common stock: In 1890, 12@14; in 1891, to July 17 in
clusive, 12>2® 1838.
Price of preferred stock: In 1890, 5 0 ® 5 5 ; in 1891, to July 17 in
clusive, 48®6478. The Pennsylvania Railroad Company (Jan. 1,1891),
owns $6,144,000 Chicago St. Louis & Pittsburg consols.
A consolidated mortgage for $75,000,000 (Farmers’ Loan & Trust Co.
of New York and W. N. Jackson trustees) has been executed, $37,190,000 bonds secured by it being reserved for the prior liens.
There are $65,000 Cincinnati Richmond & Chicago matured 2d mort
gage bonds and $797,315 of 4 and 5 per cent car trusts outstanding.
From January 1 to June 30 in 1891 gross earnings showed a decrease
of $536,432, and net an increase of $5,703.
Resuits have been as follows. See report in C h r o n i c l e , V. 52, p. 830.
1889.
1890.
Miles operated.................................................
1,144
1,144
$13,981,934
Gross earnings......................................
$15,452,932
Operating expenses......................................... 10,458,799
11,465,489
1882- 713,984,492
3.
305,871,807
6,074,131 $40,045,615 $11,855,181
1883- 4. 588,980,525 319,279,871
5,672,684 37,009,753
8,950,554
1884- 665,018,573
5.
359,526,194
6,040,178 34,343,501
7,926,304
1885- 6. 727,179,462 398,862,487
6,209,202 35,683,096
7,335,603
1886- 7. 835,308,697 444,614,423
6,901,497 41,188,737 12,430,054
1887- 848,257,474
8;
435,904,463
6,732,486 39,638,990
9,677,988
1888- 9. 879,717,468 485,690,228
6,614,127 38,355,601
7,992,819
1889- 90 976,587,989 591,379,912
7,338,472 41,096.224
8,114,104
—(V. 50, p. 37, 72, 85, 1 0 4 ,1 0 7 , 139, 206, 276, 392, 452, 484, 519, 561
590, 706, 904 ; Y. 51, p. 21, 142, 172, 207. 276, 345, 383,459, 538, 609
*681, 748; V. 52, p. 98 , 1 2 0 ,1 2 2 ,2 0 4 ,3 5 1 ,4 7 9 ,4 9 9 ,5 7 1 ,6 4 3 ,6 8 1
"796, 832, 974.)
P h ila d e lp h ia & R e a d in g T e r m in a l.—This is the company
which will build an elevated railway in Philadelphia to carry the Phila•delphia & Reading Railroad into the heart of the city at Twelfth and
Market streets. The Reading will guarantee its bonds, principal and
Interest. See V. 52, p. 391. Capital stock, $8,500,000. (Y. 51, p. 876
V. 52, p. 391, 643.)
P h ila d e lp h ia Sc T re n to n .—Owns from Kensington, Pa., to Morrisville, Pa., 26 miles, and Tioga Branch, 1 mile; leases Trenton Bridge
Connecting Railroad, 7 miles, and Frankford & Holmesburg Railroad, 4
miles ; total owned and leased, 39 miles. On December 1,1871, it was
leased with the United Companies of New Jersey for 999 years to the
Pennsylvania Railroad, at 10 per cent on stock, and is operated as i
.part of its New York division. In 1888 gross earnings were $3,847,440
net, $2,125,627.
P h ila d e lp h ia W ilm in g t o n Sc B a ltim o r e .—Mileage as-follows.
Philadelphia Wilmington & Baltimore Railroad, 133 miles ; Philadelphia
& Baltimore Central, 80 miles ; Delaware Railroad, 100 miles ; Queen
Anne & Kent Railroad, 26 miles ; Delaware & Chesapeake, 54 miles ;
Cambridge & Seaford Railroad, 27 miles ; Delaware Maryland & Virginia
Railroad, 98 miles ; total operated, 518 miles. Owns practically all the
--stock of the Philadelphia & Baltimore Central. The bonds are all to be
•secured by any mortgage which may be issued on the road.
From 1868 to 1887, inclusive, dividends of 8 per cent were paid; in
1888 and 1889, 7; in 1890, 6 ; in 1891, 6. In April, 1881,
(nearly the whole stock was purchased by Pennsylvania Railroad ComNet earnings....... ..............................
$3,523,135$3,987,443
¡pany, $10,890,950 of it being now held by that company.
74-62
74-20
In year ending October 31,1890, gross earnings on 518 miles were Percentage of operating expen. to earns...
$6,820,377 ; net, $1,570,202, against $1,471,224 in 1888-89; surplus
INCOME ACCOUNT FOR 1890.
■over fixed charges, $1,020,772; dividends, $709,161; V. 52, p. 499.
Receipts—
$3,991,889
P ied m o n t Sc C u m berlan d.—Road extends from Piedmont, West Net earnings, including other income...............................
387,185
Va., to Cumberland, Md., 29 miles. It connects the West Virginia Cen Net earnings of L. Miami and 67 profits of St. L. V. & T. H.
tral & Pittsburg RR., by which it is operated, with the Pennsylvania
Total........................... .....................................................
........
$4,379,074
RR. system, and has a traffic contract guaranteeing 5 per cent of gross
Disbursem ents—
earnings to and from this road over the Pennsylvania Railroad, which
..........
$2,564,390
owns $200,000 of the $650,000 stock (par $50). In 1888, gross. Interest on bonds.................................................................
Rentals
paid.........................................................................
$98,662; net, $39,464. H. G. Davis, President.
..........
833,655
Car
trusts
(including
interest)'.........................
.................
.
.
.
.
.
.
.
155,412
P in e Creek.—Owns from Stokesdale Junction to Newberry Juncon L. Miami securities transferred.....................
..........
79,444
ftion, Pa., on the Corning Cowanesque & Antrim Road, 75 miles. Oper Interest
Miscellaneous..........................
.................
........
.
.
___
.
.
..
.
.
.
.
.
71,199
ated by the Fall Brook Coal Co., forming a connection between Phila
delphia & Reading lines and New York Central; bonds are guaran
Total................................
$3,704,100
t e e d by these companies and the Corning Cowanesque & Antrim, on the
$674,974
•condition that guarantors shall advance money for interest if needed Balance, surplus.....................................
(V. 49, p. 789, 825 ; V. 50, p. 107, 276; V. 50, p. 559*, 801, 835, 875;
and take second mortgage bonds for such advances. There are $142,000
secondsdueinl932. Stock,$1,000,000; par,$50. G rossearningsinl888 V. 51, p. 241, 715. 829; V. 52, p. 204, 394, 609, 643, 8 3 0 .)
$723,233; net, $271,936; rent of road, $239,603; surplus, $32,334. In
P ittsb u rg C leveland & T o led o .—(See Map o f Pittsburg <&West
1889 gross, $692,618; net, $102,379; rental to Pine Creek, $207,785; ern.)—From
Newcastle Junction, Pa., to Akron, O., 77 miles. Stock,
deficit, $105,407.
$3,000,000 (par $50), of which Baltimore & Ohio Railroad owns $1,505,P ittsb u rg A k ro n & W e ste rn .—Under construction from Carey 000. _ Leased in July, 1884, for 99 years to Pittsburg & Western. The
to Akron, O., 109 miles. To be consolidated with the Cleveland & Baltimore & Ohio guarantees interest on the Pittsburg Cleveland & To
Western, Delphos to Carey, 56 miles, forming a line 165 miles in length, ledo bonds (see terms in V. 39, p. 607.) In year ending March 31,1891,
connecting at Akron with the Pittsburg & Western. Stock authorized, deficit under interest, $67,830, against $27,997 in 1889-90. (V. 52, p.
: $4,230,000 ; outstanding, $2,500,900 ; par, $100. (V. 50, p. 314, 835 ; 795.)
V. 51, p. 459, 910.)
P ittsb u rg & C on n ellsville.—Owns from Pittsburg, Pa., to Mt.
P ittsb u rg C in cin n ati Chicago Sc St. L o u is .— (See M ap.)—
Owns Pittsburg, Penn., via Columbus, O., to Chicago, 111., 504 miles; Savage Junction, Md., 147 miles; branches, 4 miles; leased lines, 22
miles;
total, 173 miles. Leased for 50 years from January 1,1876 (re
Rendcomb Junction (near Cincinnati) to Anoka Junction, Ind., 169
miles ; Logansport, Ind., to Illinois State Line, 60 miles ; Bradford newable forever), to the Baltimore & Ohio Railroad, which guarantees
the
consolidated
of 1876 and in 1884 issued its bonds for $10,. Junction, O., to Indianapolis, Ind., 104 miles ; Indianapolis to Jefferson 000,000, secured mortgage
by pledge of the above second consolidated mortgage.
ville (opposite Louisville, Ky.), 109 miles: branches, 138 miles ; total Stock is $1,944,400;
par,
In year ending September 30, 1890,
owned, 1,085 miles. Trackage : Lake Erie & Western, Indianapolis to gross earnings of Pittsburg $50.
division Baltimore & Ohio were $3,069,055:
Kokomo, Ind., 55 miles.
net,
$1,123,626;
loss
to
lessee,
$95,761.
Leases : Chartiers Railway, 23 miles ; Little Miami and dependencies,
Cmcinnati, O., to Springfield, O., 84 miles, and Columbus, O., via DayP ittsb u rg F o rt W a y n e Sc C hicago.—Owns from Pittsburg,
tton, to Richmond, Ind., 112 miles ; Pittsburg Wheeling & Kentucky, 28 Pa., to Chicago, 111., and branch, 470 miles. Foreclosed Oct. 24,1861, and
miles ; also has a joint interest with Terre Haute & Indianapolis in the reorganized under this title Feb. 26,1862. From July 1 ,18&9, the com
jSt. Louis Vandalia & Terre Haute, Indiana State Line to East St. Louis, pany leased all its road in perpetuity to the Penn. RR. at a rental equiva.158 miles ; total leased, 406 miles. Grand total, 1,546 miles.
’ ent to interest, sinking fund of debt and 7 per cent on $19,714,286
1 1 2
INVESTOKS’
SUPPLEMENT.
[Y ol. L U I.
Subscribers w ill confer a great fa v o r by g iv in g Im m ed iate notice o f any error discovered In these T a b les.
RAILROADS.
Bonds—^Princi
1
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
For explanation of column headings, &c., see notes of
of
Par ‘ Outstanding
Per
IWhere Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value
Cent. Payable
w
h «»™
Whom.
Dividend.
Pittsburg Cincinnati Chicago & St. Lsais.—(Con.)
Jeft’nvilleMad.&In.lst M. (s.f.$15,000dr’n at 110) c 159 1866 $ 1,000 $2,507,000
7
A. & O. N. Y., Farm. L. & Tr. Co. Oct. 1, 1906
2d mortgage.......................................................... c 159 1870
1,000
1.995.000
7
J. & J.
do
do
July 1, 1910
1,000
Holliday’s Cove Railroad 1st mortgage............... c
1 1863
120,000
6
F. & A. Phila., Penn. RR. Office. Feb. 1, 1893
Steub. & Ind., 1st mortgage, extended in 1884...r 125 1864
1,000
3.000.
000 5
J. & J. N. Y., Nat’l City Bank. Jan. 1, 1914
Pitts. C. & St. L., 1st consol, mortgage............. c<fcr 199 1868
1,000
6.863.000
7
F. & A. Phila., Penn. RR. Office. Aug. 1, 1900
Pitts. Cin. Chic. & St. L. consol. M., Series A, g. .c*j ,085 1890
1,000
6.818.000
4 1« g. A. & O. Farmers’ Loan & Tr. Co. Oct. 1, 1940«
Pittsb. ( leve. <&Toledo—lstM .,gold,int. guar. B.&O..
78 1882
2.400.000
New York.
Oct. 1, 1922
6 g- A. & O.
1,000
Pittsburg <6 ('onndlsville—1st mortgage.................... 149 1868
4.000.
000 7
J. & J. Baltimore, B. & O. RR. July, 1898
£200
Consol, mort., guar. B. & O. (s.f.£7,200 per year).. 149 1876
6,567,880
6 g. J. & J. Lond’n, J.S.Morgan &Co Jan. 1, 1926
2d consolidated mortgage, gold (pledged)............. 149 1885 100 &c. 10, 000,000
5 g. F. & A.
New York Agency.
Feb. 1, 1925
100 19,714,286
Pittsb.Ft. Wayne <6 Chic.—S£ock, 7 p. ct. guar. Pa. RR. 470
1%
Q .-J . N. Y., Winslow, L. & Co. July 8, 1891
100 14,401,141
Guaranteed special improvement stock................
470 1871
1%
do
do
Q .-J .
July 1, 1891
468 1862 500 &c.
5.250.000
7
Various
do
do
July 1, 1910
468 1862 5Q0 &c.
5.160.000
7
Various
do
do
July 1, 1912
, 3d mortgage......................5 tive, not drawn. c ^
468 1862 500 &c.
2.000.
000 7
A. & O.
do
do
July 1, 1912
1,000
Pittsburg Junction—1st mortgage, gold................ c*
1882
1.440.000
J. & J. N. Y., Third Nat. Bank. Jnly 1, 1922
Pittsburg & Lake Erie—Stock.. : ....................... ; .......
50
4.000.
000
J. & J. Pittsburg, Co.’s Office. Jan. 27,1891
1,000
1st mortgage, gold, coupon........................... ........
71 1878
2.000.
000 6 g. J. & J.
do
do
Jan. 1, 1928
1,000
2d mortgage for $2,000,000 (series A), gold.......c
71 1889
1 , 000,000
A. & O. N. Y., Security & Tr. Co. Jan. 1, 1928
Pittsburg McK. <£ Yough.—Cons, stock, guar. P&L.E.
50
1884
4.000.
000 i * J. & J. N. Y., Union Trust Co. July 1, 1891
1,000
1st mortgage, guar, by P. & L. E. and L. S. & M. S..
62 1882
2.250.000
6
J. & J.
do
do
July 1, 1932
1,000
62 1884
2d mortgage, for $1,750,000..... ..............................
900.000
J. & J.
6
do
do
July 1, 1934
1,000
McKeesport & Bellevemon, 1st m ortgage............
92 1888
600.000
J. St J. Pittsb’ g, Fidelity Tr.Co. July 1, 1918
6
1,000
Pittsb. Painesville<£-Fairport—1st M., gold, int. gu.c*
63 1886
1.000.
000 5 g. J. & J. N. Y., Mercantile Tr. Co. July 1, 1916
1,000
Terminal mort., interest guar, by Pittsb. & West.
1889
250.000
5
J. & J.
do
do
July, 1916
Pitts. Shenango <£-LakeE .—1st M.for $3,000,000 g . c Ï54 1890
1,000
2.600.000
A. & O. 1st coup, due Oct., 18911 Oct. 1, 1940
5
Pittsburg Virginia <&Charleston—1st mortgage, gold
1,000
70 1882
3,000,000
A. <fc O. Philadelphia, Penn. RR. Sept. 1, 1912
5
Pittsburg dt Western—1st M., Pitts. Newcastle & L. E.
1878 500 &c.
219.000
7
J. & D. Allegheny,Pa.,IstN.Bk. June 1, 1898
1st mortgage, gold, for $10,000,000..................... c 226 1887
1,000
9,700,000
4 g. J. & J. N. Y., Drexel, M. & Co. July 1, 1917
2d mortgage for $3,500,000, g o ld ......................c* 226 1891
1,000
New Y oik City.
(?)
May 1, 1941
5 g. M. & N.
Foxburg Bridge Co. 1st mortgage, guar...............
1882
100.000
M. & S. N. Y., Union Trust Co. Sept. 1, 1902
Stock, which was increased at that time from $11,500,000. The les
sees keep the road in repair and also pay taxes, expenses, <ec .
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 leases
the Newcastle & Beaver Valley, 15 miles, and the Massillon & Cleve
land RR., 12 miles, both operated by the Pennsylvania RR.
The first mortgage bonds are in six series, lettered A to F inclusive, of
$875,000 each series, the interest on “ A” series being payable January
and J u ly ; on “ B,” February and August; on “ ~C,” March and
September; on “ D,” April apd O ctober; 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 omitted),
and the interest is payable January and July on “ G” series; February
and August on “ H” ; March and September on “ I” ; April and October
on “ K” ; May and November on “ L,” and June and December on
“ M.” Lessee pays $104,100 yearly to sinking fund, and if bonds
cannot be purchased, funds accumulate. Of the above 1st mortgage
bonds, $1,871,500, and of the second mortgage $2,304,000, and $1,582,543 cash, were held in the sinking 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;
profit to lessee, $915,047. (V. 50, p. 139, 7 3 4 ; V. 52, p. 498, 9 3 8 .)
Pittsburg: J u n ctio n .—Owns 8 miles of tracks (including 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, and guaranteed (separ
ately) a minimum of $240,000 per annum till April 27, 1922. Any
payments to make up this minimum, however, are to be in the nature
of advances, to be repaid with interest. In 1889 eross earnings $212,8 88; net, $151,600; surplus over charges and dividend on preferred
stock $7,602. Common stock is $960,000; preferred, $480,000; par
$50. Dividends of 7 per cent have been paid on preferred stock.
P ittsb u rg Sc L ake E rie.—Owns from Pittsburg, Pa., to Youngs
town, O., 68 m iles; branch line to Newcastle, Pa., 3 m ués; total owned,
71 miles; leases the Pittsburg McKeesport & Youghiogheny RR.,
Pittsburg to New Haven, Pa., 57 m iles; McKeesport to BeUevemon,
28 miles; with branches, 8 miles; total operated, 164 miles. Oper
ated in the interest of Lake Shore & Michigan Southern, which owns
$2,675,696 stock. Dividends 1884 to January, 1891, inclusive,
6 per cent yearly. In 1889, gross earnings (including Pittsburg Mc
Keesport & Youghiogheny), $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 NeweU, Pres., Chicago, 111. (V. 50, p. 7 2 ,1 7 4 ; V. 52, p. 679,974.)
P ittsb u rg M cK eesport Sc Y o u gh iog h en y .—Owns from Pitts
burg to New Haven.Pa., 57 miles; McKeesporttoBeUevemon,2 8 miles;
branches, 8 m iles; 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 guaran
teed by Pittsburg & Lake Erie and Lake Shore & Michigan Southern com
panies, 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.)
P ittsb u rg P ain esville Sc F a irp o rt.—Owns from Fairport, O.,
to Youngstown, O., 63 miles. Operated at cost by Pittsburg & Western,
but interest of bonds is guaranteed. Common stock, $800,000; pre
ferred, $250,000; par, $50. In year ending March 31,1891, gross earn
ings, $293,578; net, $61,440; deficit under charges, $4,978, against
surplus of $36,143 in 1889-90. (V. 52, p. 795.)
P ittsb u rg Shenango Sc L a k e E rie.—(See Map.)—Owns from
Butler, Pa., to Girard, Pa., on Lake Erie, 107 mUes; branches to Hill
iard, etc., 26 miles; other branches, 21 miles; operates Meadville & Linesville RR., Linesville to Meadville, 61 mUes; total operated, 215 miles.
Reorganized in October, 1890, after consolidation with the Pittsburg
Butler & Shenango, the Shenango & Allegheny, Erie Shenango & Pitts
burg and the Northeastern Ohio. To retire the old bonds of the con
solidated lines and to build the extension from Greenville to Girard on
Lake Erie, $2,600,000 bonds have been issued; $400,000 are reserved
by the mortgage for equipment and the con« Diction of the line to Conneaut Harbor, a distance of 10 miles. The receiver was discharged
May 1,1891, John Dick being elected President.
From January 1 to June 30, in 1891 (6 months), gross earnings were
$133,133, against $124,344 in 1890; net, $45,522, against $50.389.
In 1890 gross earnings on 83 miles were $262,293, against $239,138
in 1889; net, $103,746, against $89,290. Stock, $3,000,000; par. $50
—(Y. 49, p. 617; Y. 50, p. 771; V. 52, p. 81, 322, 715, 832.)
P ittsb u rg V irg in ia Sc C h arleston.—From South Pittsburg, Pa.,
to Uniontown, &c., Pa., 75 miles. The stock is $1,805,200 (par, $50),
o f which $1,538,100 is owned by the Pennsylvania Railroad, which
pays net earnings as rental, and has pledged the bonds under its col
lateral trust o f 1883. In 1890, gross, $1,029,314; net, $332,483.
P ittsb u rg Sc W e ste rn .—Owns from Alleghany City, Pa., to New
Castle. Pa., 64 miles; Callery Junction to Mount Jewett, 139 miles,
(of which 124 miles narrow gaqge); branches, 9 miles; total owned, 212
miles. Leases for 99 years Pittsburg Cleveland & Toledo, New Castle
Junction, Pa., to Valley Junction, O., 77 miles, and the Pittsburg
Painesville & Fairport Railroad, Niles to Fairport, in Ohio, 54 miles,
and Windsor branch, 9 m iles; and uses 26 miles of Cleveland Akron
& Columbus; Akron, O., to Orville, O .; also owns entire stock of Trum
bull & Mahoning Railroad, Hazleton to Niles, O., 15 miles; and of Pitts
burg Northern, 4 miles; total operated, 398 miles.
Sold in foreclosure June 8 ,1 88 7 ; new company organized June 25 ac
cording to plan in Chronicle, V. 44, p. 370. I n February, 1891, the
Baltimore & Ohio bought $6,050,000 common stock:, and on the com
pletion 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 floating debt and will fund the same into second mort
gage bonds, of which $3,500.000 have been authorized for doubletracking, etc. This second mortgage is a first lien on the company’s
property in Ohio. See V. 52, p. 238, 499, 762.
Stock, common, $7,000,000, and preferred, $5,000,000, 5 per cent
non-cumulative; both in $50 shares. Voting power of stock will be ex
ercised till January 1,1892, by J. Pierpont Morgan, J. L. Welsh and
----------- . For abstract of first mortgage (trustee, Mercantile Trust Com
pany) 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 Febru
ary 28,1890, $81,000 of old Pittsburg & Western first mortgage bonds,,
due 1900, real estate mortgages for $188,500; car trusts, $427,682Guarantees interest on $1,250,000 Painesville & Fairport bonds (seethat company).
For year ending March 31,1891, gross earnings of the three roadswere $2,207,015; net, $718,579; surplus over charges, $30,744, against
$197,843 in 1889-90. Vice-President, Anthony J. Thomas, New York.
—(V. 49, p. 471, 7 3 3 ; V. 52, p. 238, 280, 499, 762, 795, 796.)
P ittsb u rg Y o u n g sto w n Sc A sh ta b u la .—Owns Kenwood, Pa.,
to Wampum Junction, Pa.. 13 miles; Lawrence Junction, Pa., to Ash
tabula, O., 80 miles; Niles to Alliance Junction, O., 25 miles; Canfield
Branch, 1 mile; total operated, 119 miles. A consolidation of the Ash
tabula & Pittsburg and other roads in 1887. Leased from December 12r
1887, to Pennsylvania Company, rental being net earnings. Stock out
standing—Common, $1,333,342, and preferred, $1,700,000; both in $50
shares. Dividends on preferred stock at rate of 7 per cent yearly since
1887; on common, in September, 1890, 2Lj per cent. Bonds of 1887
(trustee, Farmers’ Loan & Trust Company) are reserved to retire divi
sional bonds. A sinking fund of 1 per cent purchases bonds of 1887 at
par, otherwise payments lapse.
From January 1 to June 30, 1891 (6 months), gross earnings were
$407,878, against $679,613 in 1890; net, $111,968, against $251,247
in 1889-90. In 1890 gross earnings, $1,376,264; net, $511,818; interest
on bonds, $189,800; additions and improvements, $43,979; dividends
(2^2 per cent on common 7 on preferred), $152,024; surplus, $126,016.
P ort Jervis M on ticello Sc N ew Y o r k .—Owns from Port Jervis.
N. Y., to Monticello, N. Y., 24 miles, and Huguenot to Summitville, 18
miles. Was sold in foreclosure July 16,1875, and again in November,:
1886, and reorganized. Stock, $409,100: par, $100. In year ending
June 30, 1890, gross earnings were $47,485; net, $5,034; interest.
$21,840; taxes, $4,953 ; deficit, $21,759. (V. 48, p. 372.)
P o rt R o y a l Sc A u g u sta .—Owns from Port Royal, S. C., to Augus
ta, Ga., 112 miles. Formerly Port Royal RR., sold in foreclosure Juno
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 $329,519; net*
$40,350; surplus over interest and sinking fund, $2,630.
P o rt R o y a l Sc W estern C aro lin a.—Owns Augusta, Ga., to
Spartanburg, 8. C., Laurens to Greenville, 8. C., and McCormick toAnderson, 8. C., 229 miles. 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 mort
gage is for $2,500,000. Central RR. of Georgia owns $1,578,000 of the
above bonds, $694,000 common stock and all the preferred. In year
ending June 30,1890, gross earnings, $380,291, against $357,946 in
1888-89; net, $9,703.
P ortlan d Sc O gdensburg.—Owns Portland, Me., to Scotts Mills
108 miles. In June, 1886, after foreclosure this company was reorga
nized 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 Cen
tral for interest on bonds and 1 per cent on stock till August 30, 1891,.
and 2 per cent thereafter. The consolidated mortgage (Boston Safe De
posit & 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 being guaranteed,
principal and interest, by Maine Central.—(V. 47, p. 50,161, 278.)
P o rtla n d Sc R o ch e ste r.—Owns 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 Boston
& Maine owns $482,000. Dividends since 1883: In 1884 and 1885, 4 per
cent; in 1886, 5 ; in 1887, 1888, and 1889, 6 per cent; in 1890, 6 ; in
1891, 6. In year ending Sept. 30, 1890, gross earnings, $235,871; net*
$55,500; surplus over 6 per cent dividend, $19,976,
J uly , 1891.]
RAILROAD
STOCKS AND
BONDS.
113
114
INVESTORS’
SUPPLEMENT.
[V ol. L M ,
Subscribers w ill con fer a great fa v or by g iv in g Im m ed iate notice o f any error discovered In tbese T a b les.
INTEREST OR DIVIDENDS.
RAILROADS.
Miles Date Size, or
Amount Rate per When Where Payable, and by
Par
of
For explanation of column headings, <Stc., see notes of
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
N.
Y.,
Farm.
L. & Tr. Co.
2*2
$50 $1,333,342
Pittsburg Youngstown & Ashtabula—Common stock 119
do
do
50
3*2
M. & S.
119
1,700,000
Preferred stock.. . . . . . i............— ..........................
N.
Y.,
Winslow,
L. & Co.
1,000
F. «St A.
14 1865
310,000
7
Lawrence Railroad 1st mortgage........................c
F. & A .’Phila., Fidelity Tr. Co.
62 1878
1,000
6
1,500,000
Ashtabula & Pittsburg 1st mortgage..................e*
M. & N. N. Y., Farm. L. & Tr. Co.
1,000
5
1,562,000
Consol, mort. (for $4,000,000) s. f. 1 p. c., not dr.c 119 1887
New York Agency.
1,000
1887
6 g.
364,000
.......
Port Jervis Monticello &N. Y.—1st M. ($10,000 p.m.)
500
6
J. & J. N. Y. Security & Tr. Co.
362,000
PortRo moI&Augus.—1st M. and 2d M. .end.byCen. Ga. 112 ’78-’ 82
do
do
6
J.
<
fc
J.
112
1878
100
&c.
1,500,000
General mortgage income bonds, gold................ c*
J. <St J. N. Y. Security <St Tr. Co.
500
7
68 1880
630,000
Port Royal <t West Carolina—Augusta & Knox. M.c*
N.
Y.,
Mer.
Nat.
Bank.
M.
«
S
t
N.
1,000
6
1887
229
2,143,000
Consolidated mortgage, redeemable at 110...... c*
800,000
60 1870 500 &e.
6 g. J. <St J. Portland, Me.,Cent. RR.
Portland <6 Ogdensb.—1st M., g., int. guar. M. Cent, c
Boston,
Agency.
M.
&
N.
1,000
5
1,008,000
Consol, mort.,$20,000p. m., guar. (Maine Cent.).c 108 1888
Portland.
J. «St J.
100
3
592,070
53
Portland <£Rochester—Stock ($600,000)....................
J. <St J. Boston, East’n RR. Co-.
3
100
1,500,000
51
Portland Saco Portsmouth—Stock (guar, by rental)
1,000
7 g. J. <St J. N .Y., Farm. L. <StTr. Co.
400,000
30 1886
Portland <&Willamette Val.—1st M., g., red.atl05.c*
J. <St J. Portsmouth, Treasurer.
3
100
769,000
11
Portsmouth <6Dover—Stock, 6 p. c. guar. East. Mass.
IftOl
5
J. <St J.
Potomac Talley—1st mortgage for $2,000,000........
CO
1,000
775,000
73 1886
6 g- J. «St J. N. Y., Office, 42 Wall St.
Prescott <6Arizona Central—1st M., g., sink, fund.c
do
do
J. <St J.
1,000
6
775,000
73 1886
2d mortgage, incomes paid 2 per ct. Jan. 1,1891
J. «St J. Brooklyn, 4 Court Sq.
1,000
7
500,000
10 1874
Prospect Parle <6 Coney Island.—lstmortgage.c*&r
do
do
F.
«
S
t
A.
1,000
420,000
6
1886
10
2d mortgage for $500,000............................... c*&r
do
do
1,000
96,000
6 g. M. «St S.
10 1891
3d mortgage for $200,000 gold....................... c*&r
Providence,
Am.N
at.Bk.
J.
«
S
t
J.
1,000
7
500,000
1872
23
Providence & Springf.—IstM. (end. by CityProv.)c*
Providence, Office.
Q .-M .
100
3,500,000
2*2
51
Providence & Worcester—Stock (10 per cent rental).
Prov.
,R.I.
Hosp.
<
S
t
Tr.Co.
A.
<
S
t
O.
1,000
6
1,250,000
1877
51
1st mortgage.............
-o*
1,000
J. «St D. N. Y., JohnPaton <St Co.
250,000
5
Quincy Omaha & Kansas City—Pref. 1st mortgage. 134 1887
do
do
1,000
1,489,240 3, 4, 5 J. «St D.
1st mortgage........................... .......... ...................... 134 1887
1,000
1,000,000
6
J. <St J. Balt. <StPhil. Meeh.N.Bk.
98 1886
Raleigh <&Augusta—1st mortgage, funding......... c*
Balt.
<
S
t
Phil.
Meeh.N.Bk.
1,000
J. <St J.
1,000,000
8
97 1873
M. «St S. Phila., Phil. <StRead. RR.
650,000
5
40 1862 100 &c.
Reading <&Columbia—1st mortgage (extended)..c’
do
do
1,000
J. «St D.
350,000
5
40 1864
2d mortgage, coupon (extended in 1884)............(
6
1«7 7
1,000
1,000,000
Debentures.................. ............A .........
J. <St J. Phila., Phil. & Read. RR.
'35Ô'ÔÔÔ
7
Ï5 1873 100 «Sic.
Lancaster & Reading 1st mortgage.................... c*
P o rtla n d Saco Sc P o rtsm o u th .—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.
P o rtla n d Sc W illa m e tte V a lle y.—Line pf road from Portland,
Ore., to Dundee, 28 miles, and branches 3 miles, all narrow gauge.
Connects with Oregon Railroad, with which it has a freight contract for
15 years. Bonds payable at 105. Stock, $150,000.
P o rtsm o u th Sc D over.—Portsmouth, N. H., to Dover, N. H., 10
miles. Opened February 1, 1874, and leased for 50 years to Eastern
New Hampshire at 6 per cent per annum on the stock. Operated now
by Boston & Maine. Frank Jones, President, Portsmouth, N. H.
Prescott Sc A rizon a C entral.—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 C h r o n i c l e , Y. 48, p. 223. From Jan. 1
to June 30,1891 (6 months), gross earnings on 73 miles were $58,096,
against $59,918 in 1890. In 1890 gross earnings were $134,594; net,
$88,269. In 1889, gross, $128,508; net, $83,315; surplus over interest
($62,000) and taxes, $13,806. T. S. Bullock, President, 42 Wall Street.
Prospect P a rk & Coney Isla n d .—Owns from 9th Avenue and
20th Street, Brooklyn, to Coney Island, etc., 6 miles. Leases to Coney
Island Point, etc., 3 ^ m iles; trackage, Parkville to Bay Ridge, 3 ^
m iles; total operated, 13 miles. Stock is $250,000 ; par, $100. In ad
dition 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 com
pany for $420,000. In 1889-90 gross earnings were $145,433; net,
$32,505; net including income from rents, $70,434; interest, $60,430;
rentals and taxes, $14,425; deficit, $4,420. Total deficit to July 1,
1890, $77,344. President, Andrew R. Culver, Brooklyn.
Providence Sc 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, ana road
leased to that company for 99 years from October 1 at 6 per cent on
stock. See V. 51, p. 458. Bonds for $1,000,000 are to be issued to re
tire existing indebtedness, when due, and for extensions. They will be
uaranteed by the New York & New England RR. and the city of Provience. In year ending Sept. 30, 1889, gross, $126,942; net, $39,725;
surplus over fixed charges, $3,772. (V. 51, p. 458.)
P rovidence Sc W o rcester.—Owns from Providence, R. I.,' to
Worcester, Mass., 44 miles; branches, 7 m iles; total operated, 51 miles.
In May, 1888, arranged to lease road to the New York Providence &
Boston Railroad for 99 years at 10 per cent per annum on the stock,
and road turned over in June, 1889, extra dividends of 10 per cent being
paid June 29,1889. 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. 68i.)
Q u in cy O m ah a Sc K a n sa s C ity.—West Quincy to Trenton, 111,,
134 miles; trackage (C. B. & Q.), to Quincy, 3 miles. This company is
successor to the Quincy Missouri & Pacific sold in foreclosure and reor
ganized. The stock is $1,489,240 (par $100). In 1890, gross, $265,464;
net, $106,658; rentals and tolls, $27,524; interest, $37,138; better
ments, $22,096; surplus, $19,900. From Jan. 1 to May 31, 1891
(5 mos.), gross earnings were $102,231, against $94,407 in 1890; net,
$30,604, against $23,103.
R a le ig h Sc A u g u sta .—Owns from Raleigh, N. C., to Hamlet, N. C.,
98 miles; 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 o f the stock and bonds) and so by Seaboard & Roanoke. Stock is
$873,000; par, $100. In year ending September 30,1889, gross earn
ings, $262,743; net, $94,001; surplus (including other receipts) over
fixed charges, $45,444; 1887-8, gross, $241,987; net, $88,978.
R a le ig h Sc Gaston.—Owns from Raleigh to Weldon, N. C., 98 miles
and Louisburg branch, 10 miles. Controls Raleigh & 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 Georgia Carolina & Northern and
jointly guarantees the bonds. Seaboard & Roanoke owns $742,200 of
the Raleigh & Gaston $1,500,000 stock; par, $100. Semi-annual divi
dends are paid at National Farmers’ & Planters’ Bank, Baltimore, April
1 and Oct. 1. Dividends in 1889,6 per cent; in 1890,6; in 1891, April 1,3.
From July 1 to December 31,1889 (6 months), gross earnings were
$260,546; net, $124,068. Gross earnings year ending September 30,
1889, $490,348; net. $213,804; surplus (including other receipts) over
fixed charges, $194,417; dividend of 5 per cent, $75,000. (V. 52, p. 530.)
R e a d in g Sc C olu m b ia.—Owns from Columbia to Sinking Springs,
Pa., 40 m iles; branches, 16 m iles; Lancaster & Reading RR., leased, 15
m iles; operates Marietta Junction to Chickies, 6 m iles; total operated,
77 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 November 30,1889, gross
earnings were $304,097; net over operating expenses, $36,161.
R en sselaer & Saratoga«—Owns Troy to Ballston, N. Y., 26 miles;
f
Stocks—Last
Dividend.
Sept. 25,1890
Mch. 28,1891
Aug. 1, 1895
Aug. 1, 1908
Nov. 1, 1927
Dec. 1, 1927
1898 <St 1899
Jan. 1, 1899
July 1, 1900
May 1, 1937
July I , 1900
Nov. 1, 1908July 15,1891
July 15,1891
Jan. 1, 1906July 1, 1891
Jan. 1, 1941
Jan. 2, 1916
Jan. 2, 1916
Jan. 1, 1895'
Feb. 1, 1926:
Mch. 1, 1931
July 1, 1892.
June 30,1891
Oct. 1, 1897
Dec. 1, 1917
Dec. 1, 1917
Jan., 1926
Jan. 1, 1898
Mch. 1, 1912
June 1, 1904
Dec. 1, 1917
Tnl’17 1
1 SOS
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 m iles; Fort Edward to Caldwell, 14 miles;
other branches, 10 miles; total leased, 58 miles; total operated, 195
miles. Leased in perpetuity March 1,1871, to the Delaware & Hudson:
Canal Company, which owns $1,600,000 stock; rental, 8 per cent on thestock and interest on the bonds. Stock authorized, $10,000,000.
From July 1,1890, to March 31,1891, gross earning's were $1,969,040, against $1,935,065 in 1889-90; net, $747,526, against $860,623^
deficit under charges, $73,696, against surplus of $$55,768. In 188990 gross earnmgs, $2,629,547; net, $1,127,564, against $915,157 in:
1888-89. (Y. 50, p. 245, 707; V. 51, p. 207, 681; V. 52, p. 280, 762.)
R i c h m o n d Sc D a n v i lle .—(See Map Richmond <& West Point Ter
m inal.)—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 ex
changed for Terminal in the proportion of four shares of Terminal for
one of Richmond <te 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 agreement.
Dividends since 1876—In 1881, 5 per cent; in 1882, 7; in 1887, 3; im
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 o f 1915?
and the debentures. Of the Oxford & Clarkesville 6s, due 1937,$264,000 have principal and interest, and $480,000 interest only, guar
anteed by Richmond & Danville. In 1889 company endorsed the bonds,
of the Georgia Co. There are $111,000 Clarkesville & North Carolina
6s (M. & N.), guaranteed, due November, 1937. The Washington Ohio-& Western 1st mortgage bonds are guaranteed as to principal ana!
interest by endorsement; $100,000 of the $1,250,000 are reserved to
take up Clark County bonds. The earnings of the Washington Ohio &
Western for year ending Feb. 28,1891, were: Gross, $150,605; net,.
$47,647. In 1890 the Richmond & Danville issued $6,000,000 bonds
jointly with the East Tennessee Virginia & Georgia. (See East Tenn
essee.) Danville & New River bonds for $1,050,000 are guaranteed.
Duefrom Atlanta& Charlotte Air Line for betterments to June30,1890,.
$1,183,846, from other leased lines $4,109,097. Bills and accounts
payable, etc., June 30,1890, amounted to $2,474,690.
From Jan. 1 to June 30,1891 (6 months), gross earnings on 1,112:
miles were $2,922,000, against $2,730,500 on 1,075 miles in 1890.
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. $1,216,383Year ends June 30. Report for year 1889-90 was in C h r o n ic l e , V.
52, p. 163, showing earnings for the system proper (751 miles) as follows.
1889-90.
Gross earnings, including interest on investments................ $5,600,712*.
Net earnings...................................... ...........................................
Rentals, fixed charges, sinking funds and ta x e s .................... 1,738,397
Surplus. ................................................................................. $750,863In the year 1889-90 the gross earnings of all the auxiliary lines(2,572 miles) were $7,595.467; net, $1,943,288; deficit under charges,
$676,507, against $491,178 in 1888-89 (V. 49, p. 7 5 9 , 789; V. 50, p.
314, 452; V. 51, p. 172, 908; V. 52, p. 1 63,204, 351,390; V. 53, p. 59.>R ic h m o n d Fredericlcsburg & P o to m a c .—Owns from Rich
mond, Va., to Quantico, 79 miles; James River branch, 3 miles; leasesQuantico to Junction, 2 miles. There are $83,363 7 per cent debt certi
ficates due July, 1899, and $53,512 5 per cent certificates due in 1901
and 1902. In December, 1889, the consolidated mortgage for $2,000,000
was authorized to provide for prior bonds maturing, for extensions.,
double-track, &c. Dividends of 7 per cent paid on common stock and
dividend obligations in 1888 and 1889; in 1890, 6*2 per cent; in 1891..
January 2, 3 ls ; July 1, 3*2. In year ending June 30, 1890, gross
turnings were $709,613; net, $269,369; interest and guaranteed divi
dends, $79,177; dividends, $144,820; surplus, $45,373. In calendar
Year 1890 gross earnings, $735,082; net, $289,354,-against $237,342 in
1889. (V. 49, p. 826; V. 50, p. 312, 520, 904; Yol. 52, p. 39.)
R ic h m o n d N lch olasville Irvin e Sc R ea tty vllle .—Line of:
road—Versailles, Ky., to Beattyville at .the Three Forks of the Kentucky
River, 97 miles. Forty miles are completed and in operation and the
remainder under construction. In March. 1890, stockholders of the
Louisville N. Albany & Chicago voted to reject an agreement that had
been made to guarantee this company’s bonds. See V. 50, p. 484, 770.
President, Major J. W. Stine. (V. 50, p. 484, 770; V. 51, p. 609.)
R ic h m o n d Sc Petersburg.—Owns from Richmond to Petersburg,
Va., 23 miles. James River branch, 4 miles.' The consolidated mort
gage 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 and 1890, 7 ; in 1891, January 3, 3*s; July 1, 3*2.
From July 1,1890, to May 31, 1891 (11 mos.), gross earnings were
$295,811, against $293,774 in 1889-90; net, $72,802, against $94,026..
Fiscal year now ends June 30. In year 1889 90 gross earnings were
$825,305; net, $100,822; total net income, $117,989; surplus over
charges and 7 per cent dividend, $19,751. In 1888-9 gross, $280,657
net, $72,724—(V. 50,p. 312; V. 51, p. 143.)
115
BOKDS.
AKD
STOCKS
RAILROAD
J u ly , 1891.]
1 1 6
INVESTORS’
SUPPLEMENT.
[ voL. L in .
Subscribers w ill confer a great fa v o r by g iv in g im m ed ia te notice o f any error discovered in these T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount
. Stocks—Last
Where
Payable,
and
by
per When
Par
For explanation of column headings, &e., see notes of
of
Outstanding Rate
Dividend.
Whom.
Payable
Cent.
Value.
Bonds
on first page of tables.
Road.
Rensselaer & Sara—Stock, 8p.c.guar.Del.&HucLCan
1st mortgage, consolidated...............................c*<fer
Richmond <£Danville—Con.M.,g. .Rich.toDanv. &brs.
Debenture mortgage bonds, income cumulative..
Consol. M. g. ($15,000 p.m.)$ or & ($14,500,000)c*
Equipment Trust bonds, gold, s.f., drawn at lOO.c*
Equipment bonds, for $2,000,000, s.f .,subj’t to call
Northwestern, N. C., 1st M. ($15,000 p. m.) g. gu.c
Richmond York River & Chesapeake, 1st mortg.
2d mortgage, Richmond to West Point, Va.......
Stock, guaranteed 6 per cent..............................
Wash.Oh.& West. 1st M.,guar.,AleXan.toR. Hill.c
Income mortgage.............................................
Oxford & Clarksville 1st mort., $15,000 p. m. . .c
Danville & West. 1st M. for $15,000 p. m., g........c
Rich. Fred. <&Po(.—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 ($4 8,687 are 5s, pay. J & J in London)
Consol, mortgage for $2,000,000, gold..........c*&r
Rich. Nichol. Irv. ¿ B .—IstM. ($25,000 p.m.) gold.c*
Richmond <&Petersburg—Stock............. .....................
Consolidated mortgage ($50,000 are 7s)...............
Consolidated mortgage for $1,000,000, gold— c*
Richmond <*■West Point Terminal R. <£ W. Go.—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 Qrande June.—1st M. for $2,000,000, g. guar.c*
Rio Qrande Southern—1st M., $25,000p.m., g..e*<fcr
Rio Qrande Western—Preferred stock.....................
1st trust mortgage, gold.......................................c
195
79
152
152
152
$100
1,000
1,000
1,000
1,000
100
38
38
1871
1874
1882
1886
1889
1891
1888
1873
1880
" 5Ó
50
50
70
1884
1884
1887
1891
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
100
100
1856
¡7 9 ) 58&70
1,000
79 1890
1,000
1889
100
-23
23 1875 500 &c
1,000
27 1890
100
100
1,000
1887
1,000
1889
1,000
1889
1,000
1890
100
l.OOO&c
427 1889
J. & J. N.Y., Del. &H.Canal Co. July 2, 1891
4
$8,831,900
May 1, 1921
do
do
M. & N.
7
2, 000,000
5.996.000
6 g. J. & J. N. Y., 4th Nat. Bank. Jan. 1, 1915
Apr. 1, 1927
do
do
A.
&
O.
3.238.000
6
Oct. 1, 1936
do
do
3.240.000
5 g, A. & O.
Sept. 1, 1909
do
do
M.
&
S.
1.348.000
5 g.
1892 to 1906
do
do
6
(1)
Apr. 1, 1938
do
do
A.
&
O.
1.500.000
6 g.
Jan. 1, 1894
do
do
J. & J.
400.000
8
Nov. 1, 1900
do
do
M. & N.
6
500.000
July 2, 1891
do
do
J. & J.
3
497.000
Feb. 1, 1924
do
do
F. & A
4
1.250.000
1924
None paid.
6
625.000
744.000
6 g. M. & N, N. Y., 4th Nat. Bank. Nov. >4-, 1937
Oct. 1, 1936
do
do
5 g. A. & O,
1.052.000
July 1, 1891
2,228,200
3^2 J. & J. Phila. & Richmond.
May 1, 1891
Richmond,
500,400
312 M. & N,
July’95&1901
do
do
144,520 5, 6 ,7 J. & J
1901
349,687 5 g. & 6 M. & N, Phila.,Town.Whel; Rich
500.000
4i2g. A. & O New York or Richmond, Apr. 1, 1940
July
1, 1919
N.
Y.,
Bk.
of
No.
Amer.
J.
&
J.
1, 000,000
6 g.
July 1, 1891
Richmond, Office.
1, 000,000
312 J. & J.
May
1, 1915
do
do
M.
&
N.
6 &7
400.000
Apr. 1, 1940
New York City.
300.000
4i2g. A. & O.
70,000,000
5,000,000
' 2Î2 J. & J. N. Y., Office, 80 B’way. July 15,1891
Feb. 1, 1897
do
do
5.500.000
6 g. F. & A.
Mch. 1, 1914
do
do
11.065.000
5 g- M. & S.
1.850.000
5 g. J. & D. N. Y., Maitland, P.& Co. Dec. 1, 1939
1.150.000
5 g. J. & J. N. Y., Maitland, Phelps July 1, 1940
Q .-F . N.Y.,office,32 NassauSt. Aug. 1, 1891
6.250.000
114
13.749.000
4 g. J. & J. N. Y., State Trust Co. July 1, 1939
$625,000 E.Tenn.Va.&Ga.lst pf. $2,283,200
R i c l i m o u d & W e s t P o i n t T e r m in a l R a i l w a y & W a r e Wash. O.&W.RR. ine..
do
do
2dpf. 4,225,000
do
do stock. 1,500,000
h o u s e C o .—(See Map.)—The mileage controlled and operated is about
N’east.
RR.
of
Ga.
g’n.M.
315,000 Central RR. & Banking
8,558 miles (including water lines) as follows :
Co. of Ga. stock........
220,000
do
do
stock.
120,000
R i c h m o n d & D a n v i l l e S y s t e m . — Richmond & Danville and Pied
Meck.RR.stock
300,000
mont Railroad, branches, &o., 220 miles; Richmond York River & Rich.&
Total..........................$40,845,300
Rich.
&
Dan.
RR.stock.
708,100
Chesapeake Railroad, 39 miles; North Carolina Railroad, 223 miles;
_______
B ___ | uaranteed $6,000,000 Cincinnati Extension
In
1890___
theI company
Atlanta & Charlotte Air Line Railway, 269 miles; total system proper
751 miles. Leases: Northwestern North- Carolina, 100 miles; bonds, issued lointly by Richmond & Danville and East Tennessee, Vir
Virginia Midland Railway, 355 miles; Washington Ohio & Western ginia & Georgia and secured by deposit of the stock purchased in ob
Railroad, 50 miles ; Western North Carolina Railroad, 302 miles ; Char taining control of the “ Erlanger” roads.
lotte Columbia & Augusta Railroad and leased lines, 363 miles ; Colum
E a r n i n g s . —For the year ending June 30,1890, the earnings of the lines
bia & Greenville Railroad, leased lines ana branches, 296 miles ; Rich controlled (8,312 miles) were $41,361,095, against $35,596,983 on 7,817
mond & Mecklenburg Railroad, 31 miles ; Georgia Pacific Railway, 567 miles in 1888-89; net, $13,132,903, against $11,699,512; surplus over
miles ; Statesville & Western, 20 miles ; Oxford & Henderson, 13 miles; charges, $2,495,717, against $2,265,067.
Oxford & Clarksville, 50 miles; Northeastern RR. of Georgia, 40 miles;
The annual report for year ending November 30,1890, was given at
Clarksville & North Carolina, 7 miles. Controls by ownership of stock, length in V. 51, p. 828, 878; see also page 853
operating separately: Asheville & Spartanburg, 70 miles; Elberton
INCOME ACCOUNT YEAR ENDING NOVEMBER 30, 1890.
Air Line, 51 miles ; other lines, 58 miles ; total auxiliary system, 2,572
Expenses—
Revenue—
miles ; total Richmond & Danville system June 30,1890, 3123 miles.
Divs. Rich. & Dan........ $497,810 Int. 6 per cent Col. Trust $330,000
Since acquired, 74 miles ; total, November 30,1890, 3,197 miles.
Int. 5 per cent Col. Trust 412,650
448,320
Divs.
E.
T.
1st
pref.......
E a s t T e n n e s s e e V i r g i n i a & G e o r g i a S y s t e m .— (See East Ten
Cent. RR. of Ga..
328,800 Interest on Ga. Co. 5 per
nessee Virginia & Georgia for details).—Total East Tennessee system, Divs.
cent Col. Trust.
28,100
Int. E. T. 1st mortgage.
7,500
including Alabama Great Southern, Cincinnati New Orleans & Texas Various
249,847
coupons............
141,000 Divs. on pref. stock......
Pacific, etc., 2,500 miles.
Interest and discount..
118,025
C e n t r a l R a i l r o a d o f G e o r g i a .—(See that company) 2,361 miles.
Gen. and legal expenses
74,476
W a t e r L i n e s .—Ocean Steamship Company, 300 miles, and Baltimore
T ota l............................$1,423,430
T ota l.......... , ............... $1,213,099
Cites. & Rich. S. B., 200 miles—500 miles.
In February, 1891, an arrangement was made with the Pennsylvania
Net for y e a r ............ .............................................................. $210,330
RR. Co. for through trains from New York to Atlanta and New Or —(V. 49, p. 115,374, 471, 78 8 , 8 6 2 ; V. 50, p. 245, 771, 834; V. 51, p.
leans. See V. 52, p. 322.
788, 82 8 , 853, 87 8 , 877; V. 52, p. 280, 322, 462; V. 53, p. 96.)
O r g a n i z a t i o n , E t c .— Incorporated by an act of the Legislature of
R io Grande J u n ctio n .—Owns standard-gauge road, completed
Virginia of March 8,1880, and in November, 1886, purchased a large
majority of the Richmond & Danville RR. stock. The Central Georgia in September, 1890, from Rifle Creek, Col., on the Colorado Midland
and
the Denver & Rio Grande, to a connection with the Rio Grande
Railroad & Banking Company is controlled by the Georgia Company,
whose entire stock is owned by the Terminal Company; in March, 1891, Western at Grand Junction, 62 miles. This is a connecting link in the
standard-gauge
route which was opened in November, 1890, over the
the Georgia Pacific leased the Central Georgia. An interest in the Balt.
& Ohio was secured in 1890. (See V. 50, p. 874.) a majority of the roads above named, between Ogden and Denver and Colorado Springs.
Leased
jointly
by
Colorado Midland and Denver & Rio Grande, which
stock of the East Tennessee Virginia & Georgia is believed to be held
companies guarantee the bonds, principal and interest. Concerning
in the interest of the company.
bonds see V. 51, p. 830. Stock is $2,000,000 ; par, $100. (V. 51, p.
S t o c k s a n d B o n d s .—The preferred stock m aybe called for redemption
at 110. It is secured by deposit in trust of $2,500,000 Richmond & Dan 829, 830; V. 52, p. 204.)
R io Grande Southern.—(See Map Denver J Rio Grande.)—Under
ville stock.
Dividends on preferred stock—In 1887, 2*2 per cent; in 1888, 5; in construction from Dallas, Col., on the Denver & Rio Grande, southerly
to Durango, 164 miles, narrow gauge. To be completed in 1891.
1889, 5 ; in 1890, 5 ; in 1891, Jan. 10, 2 ^ ; in July, 2Lj.
Price of common stock—In 1881,122®174Lr, in 1882,23®263; in Built in the interest of the Denver & Rio Grande, with whose narrow1883, 21®39; in 1884, 12®32; in 1885,183s®43i4 ; in 1886, 27*4® gauge lines it will connect. Mortgage (trustee, Central Trust Company
7714; in 1887, 2038®53; in 1888, 19®29%; in 1889,19^® 27% ; iu of New York) is for $5,000,000 at $25,000 per mile. (See V. 51, p. 143;
1890, 1312@ 2814 ; in 1891, to July 17 inclusive, 1278® 1912. Preferred V. 52, p. 322.)
R io Grande TVestern.—<See Map.)—L i n e o f R o a d —Owns Ogden
in 1887, 43®8712 ; in 1888,55®87^ ; in 1889, 76®84% ; in 1890, 60^ ®
Utah, to Crevasse, CcL, 310 mi es; Bingham Junction to Alta, 18 miles;
8 7 ^ ; in 1891, to July 17, inclusive, 661a®7612.
The securities owned free from any lien on Nov. 30,1890, were as fol Bingham Junction to Bingham, 16miles; Pleasant Valley Junction to coal
mines, 18 miles; Sevier branch, 86 miles ; other branches, 5 miles; tptal
lows:
owned 453 miles. Leases Crevasse to Grand Junction, 18 miles.
Bonds.
Stocks.
$100,000 Total operated, 445 miles. A branch to the Tintic mines, 44 miles, is
Baltimore & O. com ...
$400,000 E. Tenn. Va. & Ga. Ext.
195,000 being built in the interest of this company by the Tintic Range RR. Co.
Blue Ridge & Atl. pref.
250,000 Oxford & Hend. 1st M.
160,000 See V 53, P- 59. The Rio Grande Junction Road, 64 miles, opened in
E. Tenn.Va. & Ga. com. 5,880,000 Rich. & Mecklenb. 2ds.
300,000 November, 1890, affords a through connection of standard gauge to
Do
1st pref.
500,000 Statesville & West. 1st.
299,000 the Denver & Rio Grande and the Colorado Midland.—(See V. 51, p. 680.)
Do
2d pref. 2,311,000 Blue Ridge R R ............
This company was formed in June, 1889, pursuant to the plan of
893,000
Oxford & Hend. com ..
325,000 State of Georgia S ^ s ..
1,844 March, 1889, for widening gauge and retiring old securities with new
Rich. & W. P. Ter. com.
888,640 Other issues................
Statesville & Western.
500,000
Total bonds............ $1,948,844 *SThe report of th’ereorganization committee issued in June, 1891, and
Virginia Midland com.
954,233
published at length in the C h r o n i c l e , V. 52, p. 941, gave a full account
118,112
Otherissues..................
of the improvements on the property since April, 1889. See abstract
Total stocks........... $12,126,985 I Tot. of bonds and st’ks.$14,075,829 of mortgage (Central Trust Co., trustee) in V. 49, p. 237, and statement
New York Stock Exchange in full in V. 50, p. 73. Common stock
The 6 per cent trust bonds of 1887 may be redeemed on notice at any to $7
500,000; preferred stock authorized, $7,500,000; outstanding,
time at 105 (see abstract of mortgage, V. 45, p. 575). They are a first is
$6
250 000; par, $100. Preferred stock is entitled to 5 per cent dividend,
lien on the following securities:
non-cumulative, then common stock to 5 per cent, after which both
Rich. & Dan. stock... : $1,760,900 West. N. C. consols... $1,325,000
4,110,000 ClTlie\u'eferred stock was increased from $5,000,000 to $6,250,000 in
do
2d m ort...
E. T.Va. & Ga. 1 st pref. 6,000,000
Col. & Green, com....... 1,000,000
April 1891, the new stock being taken by stockholders at $65 per
Total par value........ $17,296,900 share’ The proceeds of this issue will be applied to new equipment,
do
do p r e f---1,000
Va. Midland stock....... 3,100,000
constructing new line over Soldier Summit Pass, etc. See V. 52, p. 499.
Dividends on preferred stock—A dividend of 2 ^ per cent in preferred
The consol, collateral trust 5 per cent mortgage of 1889 is for $24,300,000 (trustee. Central Trust Co.); $4,000,000 being reserved to retire stock was paid February 1,1891, and the first quarterly cash dividend
(if deemed advisable) $5,000,000 preferred stock and $5,500,000 for of 1M per cent May 1, 1891 ; on Aug. 1, paid 1*4. See official state
the collateral trust bonds of 1887. The sinking fund of 2 per cent begins ment on declaration of May dividend in V. 52, p. 499.
Price of common stock—In 1890, 15®247s ; in 1891, to July 17
February 1,1898, bonds to be drawn if not purchasable at par, and
bonds may be redeemed at par at any time on one month’s notice.
^Price^ of preferred stock—1« 1890, 40®55; in 1891, to July 17
(See abstract of mortgage in C h r o n i c l e , V. 49, p. 115.)
The 5s are a second lien on the securities pledged for the 6 per cent Inclusive, 5534®74%.
From July 1, 1890, to May 31,1891 (11 mos.), gross earnings were
bonds and on $2,500,100 Richmond & Danville stock,pledged for the
$2 124,424 against $1.466,051 in 1889-90; net, $814,645 against
preferred stock, and a first lien on the following:
«4.
170
ooo
*481
454, Mileage, 387 miles, against 369.
Georgia Co’y stock... .$11,990,000 Ga. Pacific Ry. stock.. 1 397,000
From July 1, 1890, to January 31, 1891 (7 months) net earnmgs
do do income mort.
Charfc.& Aug.RR.st’k. 1,300,000
s
447
000
were
$579,593; taxes, insurance, etc., less other income, $19,379,
Va. Midland Ry. stock.
470,000 Ga. Co. 5 p.c. col. trust.
’215 000 rentals and interest on bonds for 7 months, $310,566; balance for
Western N C. RR.,eom. 3,160,000 Ash. & Spart.RR.2dM.
1,040^000
stock
$249,643.
See V. 52, p. 499.
do
do stock.
do
do
pref. 3,160,000
BONDS.
AND
STOCKS
RAILROAD
1891.1
J IL T ,
INVESTORS’
1 1 8
SUPPLEMENT.
[V ol . LII.
Subscribers w ill confer a great fa v or by g iv in g im m ediate notice o f any error discovered in tkcse T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
pal, When Due.
RAILROADS,________________ f Miiea Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
o
f
'For explanation of column headings, &c., see notes of
Outstandins
Whom.
Dividend.
Cent. Payable
Road. IBonds Value.
on first page of tables.
'Roanoke, & South.—1st M., g., $15,000 p.m.,ser.A. .cJ
JRoch. <£ Genesee Yal.—Stock, 6% rentalN.Y.L.E.&W
Rock Island &Peoria—Stock..................... .................
1st m ortgage..:............. .........................................r
Consolidated 1st mortgage..................... -............ -v
Rome Watertown <P Ogdensburg—Stock 5 p. c. guar.
1st M.,Wat. & R.,Rome toCape Vin.,s.f.,not dr’n.C
1st M., Wat.,to Ogd. & Nor’d, s. f. (2d M. on 95 m.)
2d mortgage (3d mortgage on 95 miles)............. c
Consol, mort. (extended July, 1882, at 5 p. c.)..c’
Syracuse Northern 1st mortgage (gold)............. o’
Oswego Bridge 1st mortgage..................... ..........
Syracuse Phoenix & Oswego 1st mortgage..........
Norwood & Montreal 1st mortgage, gold.............
R. W. & Og. Term. RR. Co. 1st mortgage, guar..C
Utica & Bl. Riv. st’k,7 p. c. perpet. gu. by R.W.&O.
Black River & Morristown 1st m ortgage........ c
Clayton & Theresa 1st mortgage................... - .c
Consol. M., Utica to Ogdens, «branch, g., guar.c
Rutland—Stock, preferred..... ................................
General mortgage (8 per cent, reduced to 6 )... ..c
2d mortgage in exchange for equipin’t bonds, &c..c
First consol, mort. for $3,500,000, g o ld .......c*&r
Saginaw Valley <£ St. Louis—1st mortgage............ c
St. Johnsbury <£Lake Champlain—IstM ............c&r
Consolidated mortgage (for $1,000,000)...............
Bonds for $2,500,000........ ......... — —..................
18
113
91
113
1889
$1,000
100
1878
1885
25,000
5,000
100
100 &c.
500 &c.
1,000
1,000
1,000
1855
1881
1872
1874
1871
1885
Ï8 1885
13 1886
1,000
14 1888
100
150 ’ 68-71
36 1874 500 &c.
500
&c.
16 1873
1,000
150 1890
100
120
120 1872 100 &c.
120 1878 100 &c.
1,000
120 1891
1,000
36 1872
1,000
120 1880
1,000
120 1884
....
120
97
190
190
409
45
$802,000
555,200
1,500,000
150,000
450,000
7,668,100
417,800
1,021,500
1,000,000
6,989,000
500,000
100,000
175,000
130.000
325,000
1,103,000
500,000
200,000
1,300,000
4,539,100
1,500,000
1,500,000
m
446,000
- 628,000
41,000
(?)
& Dep.
6 g- J. & J. Bait. , Merc. Tr l.&W.Co
3
J. & J. N.Y. by N.Y.L.I
,
Corn
Exch.
Bank.
J.
N.
Y.
&
J.
2^2
do
do
10
J. & J.
do
do
&
J.
6
J.
II 4
Q —F. N.Y. .Grand Cent. Depot
do
do
M. & S.
6
do
do
J. & D.
7
do
do
J. & J.
7
do
do
A. & O.
5
do
do
J. & J.
7
do
do
F. & A.
6
do
do
F. & A.
6
do
do
5 g- A. & O.
do
do
M. & N.
5
do
do
3*2 M. & S.
do
do
J. & J.
7
do
do
J. & J.
7
do
do
4 g. J. & J.
Rutland, Clem. Nat.Bk.
2
M. & N. Bos .Globe N atBk. &Rut
6
do
do
F. & A.
5
4*2 g J. & J.
Nat.
Bk.
N.
Boston,
Secojnt
M. &
8
6 g- A. & 0 . Boston, Am. L. &Tr. Co.
Boston.
Q.—J.
5
4
Jan. 1. 1919
July 1, 1891
July 1, 1891
Jan. 1, 1900
Jan. 1, 1925
May 15,1891
Sept. 1, 1910
Dec. 1, 1891
Jan. 1, 1892
July 1, 1922
July 1, 1901
Feb. 1, 1915
Feb. 1, 1915
Apr. 1, 1916
May 1, 1918
Mar., 1891
Jan. 1, 1894
July 1, 1898
July 1, 1922
July 1, 1891
Nov. 1, 1902
Aug. 1. 1898
July T, 1941
May 1, 1902
Oct. 1, 1910
Apr. 1, 1914
, __ tal, 45 miles. Opened January, 1873. Stock authorized, $300,000*
outstanding, $264,804; par, $100. In 1890, gross, $103,706; net, $49,1889-90. 385; rentals, $7,000; interest, $35,680; surplus, $6,705. Deficit under
interest in 1889, $3,369. Controlled by Detroit Lansing & Northern.
$
$
1,622,234
(V. 50, p. 703.)
Gross earnings................ a............... - - ...........k f s Sfffifc
520,686
St. J oh n sb u ry Sc L a k e C liam platn .—Owns from Lunenberg,
—
473,743
Total net income................ ............ .
Vt.,
to Maquan Bay, on Lake Champlain, 120 miles, and branchy from
Deduct—
oko onA
393,500 North Concord, Vt., to East Haven, 11 miles; total, 131 miles. This was
Interest on bonds........................... - ................ 3 g § , 2 9 4
11,143
the
Portland & Ogdensburg, Vermont Division, reorganized under
Rental and miscellaneous.................................
3b,09U
present title in 1880. Preferred stock, $1,298,500; common stock,
116,043 $2,550,090. In September, 1890, $2,500,000 of 4 per cent bonds
Surplus................ ......................................... 79,359
—(V. 49, p. 23,115, 208, 580; V. 50, p. 73,276, 422, 577, 801; V. 51, p. were authorized to fund floating debt, which on June 30, 1889
amounted to $1,045,233. Operated by Boston & Maine. In year end
207, 275. 680, 788; V. 52, p. 126, 499, 574; V. 53, p. 59.)
ing June 30,1889, gross earnings were $364,342; deficit from opera
R o a n o k e Sc Southern.—In operation from Winston-Salem, N. C., tions, $101,361. (V. 51, p. 345.)
via Walnut Cove, on Cape Fear & Yadkin Valley Railroad to MartinsSt. Joseph Sc G rand Isla n d .—(See Map o f Union P acific.)—
ville, Va., 60 miles. Under construction from Martinsville to Roanoke,
Va., 62 miles—to be completed in December, 1891. Projected also L i n e o p R o a d —St. Joseph, Mo., to Grand Island, Neb., 252 miles; Kan
southerly to South Carolina State line. The first mortgage (trustee sas City & Omaha Railroad, Stromsburg to Alma, 151 miles, and McCool
Mercantile Trust & Deposit Co., of Baltimore) is in three series, each Junction to Kansas City &■Omaha Junction, 44 miles; total, 447 miles.
series having a first lien on one division of the road and a second lien Successor of the St. Joseph & Western, sold in foreclosure in 1885. Oper
ated by the Union Pacific, which owns $2,301,500 of the $4,600,000
on the other two divisions under the mortgage. Senes
‘A
bonds are a first mortgage on road from Winston-Salem, N. C. to Mar stock (par, $100), and guarantees the interest on the first mortgage
tinsville, Va., 60 miles; series “ B ” on road from Martinsville to bonds. Kansas City & Omaha bonds have interest guaranteed by St.
Roanoke, 62 miles; series “ C ” on projected line to South Carolina Joseph & Grand Island and Union Pacific under a perpetual agreement
State line, about 58 miles. Capital stock authorized $8,000,000; out for operating the road. The Union Pacific owns $1,182,500 bonds and
$1,725,375 of the $4,438,100 stock of the Kansas City & Omaha,
standing $974,000; par of shares, $100.
and St. Joseph & Grand Island owns $413,000 of the bonds and
R och ester & Genesee V a lle y .—Owns from Avon to Rochester $1,822,500 stock.
N. Y., 18 miles. Leased July 1,1871, in perpetuity, to Erie Railway
From January 1 to May 31, 1891 (5 months), gross earnings on
Rental, $34,012. James Brackett, President, Rochester, N. Y.
446 miles were $302,851, against $617,113; net, $53,862, agamst
R o c k Isla n d & P e o ria .—Owns from Rock Island, 111., to Peona $245,423. In 1890 gross earnings, including K. C. & Omaha, $1,253,111., 91 m iles; Rock Island & Mercer County Railroad, 22 m iles; total, 592; net, $355,4 5 4 ; total net income (including amount received from
113 miles. The Peoria & Rock Island was sold in foreclosure April 4 Union Pacific under traffic agreement, etc.), $447,538; interest on
1877, to the bondholders. In year 1889-90 gross earnings, partly esti bonds, $420,000; corporate expenses, $2,196; due K. C. & Omaha
mated, were $633,096; net, $168,142. President, R. R. Cable
under traffic agreement, $83,125; deficit for year, $57,783. In 1889,
R o m e W a te r to w n Sc O gdensburg.—('/S'ce Map New York Cen °t o ss , $1,267,658 ; net, $460,204; total net income (including amount
tred & Hudson River R ailroad.)—Owns from near Niagara Falls to paid by U. P. under traffic agreement, etc.), $444,232; surplus over
Massena Springs, N. Y., 299 miles, less 28 miles, Richland to East charges, $22,160; due Kansas City & Omaha on traffic agreement,
Oswego, leased from the Oswego & Rome RR.; Richland toRome.41 miles- $60,214; balance, deficit, $38,054. (V. 51, p. 570.1
branches to Cape Vincent, Ogdensburg, Pulaski, Fulton, etc., 109 miles
St. L o u is A lto n & Springfield.—Owns Bates, 111., to Alton, IU.,
total owned, 421 miles. Leases Utica & Black River Railroad, Utica to 87 miles. Uses Wabash track to Springfield, 13 miles, but road to be
Ogdensburg, and Clayton branch, 150 m iles; Oswego & Rome Railroad built to that point. In October, 1890, Joseph Dickson of St. Louis was
as above, 28 m iles; Carthage Watertown & Sackett’s Harbor Railroad, appointed receiver, and in December he was permitted to issue $300,Carthage to Sackett’s Harbor, 30 m iles; truckage—to Niagara Falls,
000 of 6 per cent receiver’s certificates, payable in one year. See
m iles; Fulton to East Oswego (New York Ontario & Western Railway) V. 51 p. 830. Reorganization is proposed. First mortgage bonds
12 m iles; total leased, 222 miles. Total operated. 643 miles.
for S l’200,000 and 2d mortgage bonds for $300,000 are outstanding as
In March, 1891, leased during the full term of its corporate existence collateral. Stock authorized, $1,500,000; par, $100. Trustee of mortand renewals thereof to the New York Central & Hudson River RR ga ge, Farmers’ Loan & Trust Company. (V. 50, p. 632, 669; V. 51, p.
Co., which assumes the debt and guarantees 5 per cent on the stock 570,830.)
The stockholders received a stock dividend of 20 per cent. For wording
St. L ou is A lto n Sc Terre H a u te .—(See M ap).—Proprietary line,
o f guaranty see V. 52, p. 463. Stock authorized $10,000,000.
The Utica & Black River is leased in perpetuity, interest on bonds and East St. Louis to Belleville, 14 miles. Leases: Belleville & Southern
Illinois RR., Belleville to Du Quoin, 111., 57 miles; Belleville & Eldorado
7 per cent on stock being guaranteed. The consolidated mortgage RR
from Du Quoin to Eldorado, 50 miles; Belleville & Carondelet RK.,
bonds of 1890 are guaranteed, principal and interest, by the Rome
from Belleville to East Carondelet, 17 miles; St. Louis Southern, PmckWatertown & Ogdensburg. See V. 50, p. 771.
nevville
to Carbondale, 111., 31 miles; Carbondale & Shawneetown,
Dividends from 1887 to February, 1891, both inclusive, at rate of
Carbondale to Marion, 17 miles; Chicago St. Louis & Paducah, Marion
per cent yearly; March, 20 per cent in stock; in May and thereafter
to
Paducah,
and branch, 53 miles; total operated, 239 miles.
per cent per annum guaranteed.
In October, 1890, the main line from East St. Louis, 111., to Terre
From July 1, 1890, to March 31 (9 months), gross earnings were Haute,
Ind.,
miles, and branch to Alton, 4 miles, which had been
$2,804,258, against $2,945,259 in 1889-90; net, $1,218,106, against leased to the 189
Cleveland Cincinnati Chicago & St. Louis, were sold to
$1,333,139. Surplus over charges, $473,187, against $587,366 in 1889
that
company
for
$10,000,000
of 4 per cent 100-year gold bonds. See
Fiscal year now ends June 30. Repor1- J j
f i U ~ on
„
.
1889-90. V. 51, P- 5 2,114,383,494.
1888-89.
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
3,904,966
3,387,333
a sinking fund for the issue itself (bonds to be purchased, not drawn,
1,444,086
1,696,028 in
at or under 105), and $7,000,000 are reserved to retire the bonds ma
Deduct—
turing in 1894. Of the $2,750,000 bonds immediately at the disposal of
1,054,623 the
1,050,454
$2,500,000 were offered to the holders of the preferred
359,502 stockcompany,
328,068
beinsr sufficient to retire all but $800,000 thereof, at the rate of
*150
in
bonds
for $100 of stock. To May 22, 1891, $812,600 of pre
1,414,125
.1,378,522
281,903 ferred stock had been retired in this way, leaving $1,528,000 bonds
. 65,564
in the company’s treasury. See V. 52, p. 42, 81, 351,499.
632,707; Y. 51, p. 207,
Of the $2,200,000 Series A and B bonds given m th e table above as
241, 681; V. 52, p. 39, 322, 463, 498, 796.)
outstanding, $1,087,500 on January 1,1891, were held alive m the
R u t l a n d . —Owns from Bellow’s Falls, Vt., to Burlington, Vt., 120
miles. This road has been through many changes. Re-leased for ^Interest on 1st mortgage, series “ A,” is paid January and July; series
999 years from January 1,1891, to the Central Vermont for $345,000 «B ” April and October; on 2d mortgage, series “ C,” February and
per year in gold, and taxes. The 5 per cent second mort. bonds are a August- series “ D,” May and November. Holders of the St. Louis Alton
first mortgage on rolling stock and personal property. A consolidated & Terre’Haute 7 per cent bonds have the right at stockholders’ meet
mortgage for $3,500,000 is to be issued to provide for the retirement of ings to cast 10 votes for each of their $1,000 bonds.
T h e Belleville & Southern Illinois is leased to this company for 999
prior liens, when due, and for equipment and improvements. See V. 52
p. 239, 940. The Delaware & Hudson owns $3,000,000 of the preferred vears from October 1,1866. Lease rental 40 per cent of gross earnings
and $1,000,000 of the $2,480,600 common stock (par $100); but the unto $7,000per mile (except on coal, &c.), 30 per cent above $7,000
Central of Vermont has the option of purchasing at any time a con and un to $14,000 per mile, and 20 per cent on any excess of $14,000
trolling interest. Dividends on preferred stock since 1880—In 1881, per mile. Interest on bonds and sinking fund of $5,000 per year guarlia per cen t; in 1882, 2 ; in 1884 and 1 8 8 5,1 ; in 1886 and 1887, l ^ ;
in 1 8 8 8.1 ; in 1889, l 3^ ; in 1890, January, 1 ; July, 1 ; Dec. 31, 1; in ^Common stockof Belleville & Southern Hlinois is $430,000 anffpreferred *1,275,000, and dividends on preferred stock since 1880 have
1891, July 1, 2. (V.51, p. 910; V. 52, p. 41, 239, 940.)
V i n 1881; 5 ^ in 1882; 6*4 in 1883; 5 ^ in 1884; 5 in 1885; 5
Sagin aw V a lley & St. L o u is.—Owns from Ithaca to Pains, Mich., Keen—i
36 miles, and leases Alma to St. Louis and Pains to Saginaw, 9 miles; in 1886; 6 % in 1887; 6 % in 1888 and 1889; in 1890, May 4 ; Nov., 4%.
Fiscal year ends June
V - 51' P- 275-
30.
Statement f o r
1 8 8 9 -9 0
was in
1 8 8 8 -8 9 .
Ch
r o n ic l e
July,
1891.]
RAILROAD
STOCKS
AND
BONDS.
119
INVESTORS
Í2 0
SUPPLEMENT.
[V ol.
LI il.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal, When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Whom.
Dividend.
Bonds
Value.
Road.
on first page of tables.
St. Joseph dt Grand I.—1st M.,g.,int.guar. by U.P.c*
2d mortgage, income, gold..................-..............-°
Kan. C. & O. RR. IstM .($15,000p.m.)g.,mt.gu.c*&r
St. Louis Alton &Spring.—1st M., g. ($12,000 p. m.)C
2d mortgage, gold........................................... - .......
St. Louis Alton <t Terre Haute—P f. stock(7 cum.),con.
1st M. (ser. A.& B., each$l,100,000),s.f.,not dr’n.c;
2d mort. ,pref. (series C & D,each $1,400,000) .c
2d mortgage, incomes................ .............- -----Dividend bonds, income (see Y. 48, p. 389)
Belle. & So. 111.—IstM . (int.guar.) s. f., not dr n.c’
Belleville & Carondelet, IstM.,Belle. toE. Caron, c’
Belleville & El Dorado—1st (int’est guaranteed)c’
2d mortgage.......................v v ........................°!
St. Louis Southern—1st mort., gold, mt. guar. ..c
2d mortgage, income, non-cumulative............c
Carbondale & Shawneet’n IstM ., g.,int. guar.c
Chic. St. L. & Paducah 1st M., g.r’d at 105 guar.c
2d mortgage, gold, income (non-cumulative) .c
Cape Girardeau i
St. L. Cape Gir. & Ft. S. gen. M. for $7,500,000 g ...
St. L. & San Fran.—See Atchison T. & S. Fe system,
252
252
196
87
207
207
207
56
16
50
50
31
31
17
53
53
161
102
65
167
1885 $1,000 $6,998,000
1,000
1885
1,679,000
1887 50Ó &c.
2,735,500
1,000 As collateral
1887
1889
1 ,fi55 ftoo
100
1862
1,000
2,200’Ò00
1862
1,000
2,800,000
1862
1,000
1,700,000
1,000
1881
1,357,000
1,000
1866
1,030,000
1,000
1883
485,000
1,000
1880
220,000
1,000
1880
330,000
1,000
1886
550,000
1,000
1886
525,000
1,000
1887
250,000
1,000
1887
1,000,000
1,000
1887
1,000,000
1886 500 &c.
4,000,000
111,000
188C-5
1,000
889,000
1888
1,000
175,000
1890
1,000
2,500,000
1891
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 stock of $500,000 being owned by the St. L. Alt. & T. H.
The Belleville & Eldorado is leased for 985 years from July 1,1880,
at a rental of 30 per cent of the gross earnings, but $15,490 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, witli giiarairtee 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 Y. 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 37*1 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 preferred stock since 1876.—In l8 7 8 ,2 per cent; in. 1881,
3 and 55 in bonds; from 1882 to 1885, inclusive, 7; in 1886, 2 ^ ; in 1887,
nil; in 1888, Hr, in 1889,1, ,
,, ,
From Jan. 1 to April 30, 1891 (4 months), gross earnings were
$446,263, against $383,091 in 1890; net, $171,356, against $167,934.
The annual report for 1890 was in V. 52, p. 717.
6
5
5
5
6
1
7
7
7
6
8
6
7
6
4
5
4
5
5
4
6
6
6
6
N. N. Y., Central Trust Co. May 1, 1925
July 1, 1925
J. Last paid July 1887.
J. N. Y., Central Trust Co. Jan. 1, 1927
New York.
1918
S.
June 1, 1909
Jan. 10, 1889
July 1, 1894
See rem. N.Y., U. S. Trust Co.
July 1, 1894
do
do
See rem.
July 1, 1894
do
do
M. & N.
After Jan.,’94
June 1
A. & O. N. Y., State Trust Co. Oct. 1, 1896
do
do
June 1, 1923
J. & D.
July 1, 1910
do
do
J. & J.
Aug. 1, 1920
do
do
F. & A.
do
do
Sept. 1, 1931
M. & S.
do
do
Sept. 1, 1931
M. & S.
Mch. 1, 1932
do
do
M. & S.
Sept. 1, 1917
do
do
M. & S.
do
do
Sept. 1, 1917
M. & S.
J. & J. N. Y., Farm. L. & Tr. Co. Jan. 1, 1931
M. & S. N. Y., Cofiin & Stanton. Sep.1900-1-2-5
Sept. 1, 1908
do
do
M. & S.
Jan., 1910
do
do
J. & J.
July 1, 1919
do
do
J. & J.
g. M. &
g. J. &
J. &
g. M. &
!>■
g.
g.
g.
g_
ff«
fr
o«
been previously foreclosed in 1885-86. See plan of reorganization in
C h r o n i c l e , V. 50, pp. 141 and 561. In May, 1891, the receiver of old
company was discharged and new securities were issued. See V. 52, p.
796.
The organization consists of three corporations.—the St. Louis South
western Railway Co., the St. Louis Southwestern Railway Co. of Texas
and the Tyler Southeastern.
The first mortgage .certificates are issued against a like aggregate
amount of first mortgage bonds secured upon these lines at a rate not
exceeding $16,500 per mile, and the second mortgage certificates
against second mortgage bonds at $8,250 per mile.
The new incomes will receive from January 1,1891, such interest,
payable semi-annually, not exceeding 4 per cent per annum, as can be
paid out of net earnings of the railways during the preceding fiscal
year, after payment of operating expenses, repairs, renewals, replace
ments, taxes, insurance and interest on prior liens. The issue of thesecertificates may be increased up to $10,000,000, subject to restrictions
provided in the mortgages as to their issue and application of the proC6eds.
From Jan. 1 to June 21, 1891, gross earnings on 1,227 miles, were
$1,742,128, against $1,634,343 in 1890.
Earnings of the road while in the hands of the receiver were as fol
lows, large expenditures for iron Dridges, steel rails, &c., being included
in operating expenses. (See V. 52, p. 322.)
1889.
1890.
Inc. or Dec.
$
$
$
4,102,142
Inc.225,857
Gross earnings.................. 3,876,285
* Operating expenses......... 3,289,226
4,844,124
Inc.1,554,897
GENERAL FINANCIAL RESULTS.
Net earnings.................. 587,058 def.741,981
Dec.1,329,040
1890.
1889.
1888.
$
$
$
* Betterments and extraordinary expenses (included in operating ex
949,307 1,110,426 1,336,910
400,796
461,748 527,767 penses above) were $1,464,902 in 1890, against $363,506 in 1889.
—(V. 50, p. 72,107, 139, 207,245, 276, 314, 353, 452, 52o, 561, 875,
249,936
332,095 362,149
904; V. 51, p. 21,114, 207, 570, 609, 830; V. 52, p. 121, 322, 643, 796,
902.)
129,653
165,618
150,860
.
185,518
Net revenue.....................
452,729 *440,412
Add rental of main line, etc. . 452,437 452,540
St. L o u is V a n d a l!a & T e r r e H a u t e .—(See Map Pittsburg Cin
Chicago <& St. L ouis.)—Owns from East St. Louis to Iniana
582,382 606,030 cinnati
Total net receipts........... . 637,957 603,400
State line, 158 miles. Road opened July 1, 1870. Leased to the Terre
Deduct—
Haute
&
Indianapolis RR. (for account of itself and the Pittsburg Cincin
469,000 469,000 nati Chicago
Interest on funded debt........ . 469,000 469,000
& St. Louis RR.) at a rental of 30 per cent of gross earn
69,182
94,078 146,996 ings. In 1889-90
New equipment, taxes, & c... . 169,962
it was agreed that in future the profits and losses
operating this road should be divided between the lessees in the
563,078 615,996 from
Total deductions............. . 638,961 538,182
proportion
of
five-sevenths
the Pittsburg Cin. Chic. & St. Louis and
19,304 df.9,966 two sevenths to the Terre to
65,218
Balance............................. .dei. 1,005
Haute & Indianapolis. In 1890 a general
settlement of old accounts was made with the Terre Haute & Indian
* Including interest on C. C. C. & St. Louis bonds in 1890.
apolis, under which this company received $287,157 in cash and 5 per
—(V. 48, P. 372, 389, 3 9 7 , 855 ; V. 50, p. 4 8 2 , 632, 801 ; V. 51, p. 52 centnotesfor $657,665, payable $25,000 monthly from August 1.1890.
In July, 1887, suit was brought by the lessor company to declare
114, 383, 459, 494; V. 52, p. 42, 81, 351, 499, 7 1 7 .)
the lease void, but Judge Gresham decided in favor of its validity,
St. L o u is A rkan sas & T e x a s.—S e e S t . L o u i s S o u t h w e s t e r n .
and the case has been appealed to the U. S. Supreme Court. A decis
St. L ou ts & C airo.—Owns Cairo to East St. Louis and branch, 161 ion is hoped for during the October, 1891, session. The first
miles The former Cairo & St. Louis made default April 1,1874, and mortgage and $1,600,000 of second mortgage bonds are guaranteed by
¡was sold in foreclosure July, 1881. Stock is $6,500,000. In January, the lessees, and also by the Pittsburg Cincmnati Chicago & St. Louis
1886, a lease was negotiated till January 1,1931, to the Mobile & Ohio RR. Stock, $2,379,358 common and $1,544,700 of 7 per cent cumula
Railroad on the basis of a rental of 25 per cent (’- o * 0) of the gross tive p ref.; par $100. The Terre Haute & Indianapolis owns $326,000
revenue of the whole line, Mobile to St. Louis, this rental being guaran preferred and $500,000 common stock, and the Pennsylvania RR. holds
teed bvthe lessee to amount to $165,000 per year. In year ending June $837,000 preferred and $225,000 2d mort. convertible 7s. In April,
30 1890, gross, $727,095; net, $159,939 (against $144,487 in 1888-89); 1891, there was applied to the payment of all the accumulated divi
rental to St. Louis & Cairo, $172,127. See Y. 51, p. 830.
dends qn the preferred stock up to Dec. 31,1878, the sum of $477,010.
St. L o u is & C h icago.—S e e N o r t h & S o u t h o f I l l i n o i s .
Last annual report was in C h r o n i c l e , V, 52, p. 278. In year
St. L o u is Cape G irardeau & F o rt S m ith .—(See Map.)—Owns ending Oct. 31, 1890, gross earnings were $1,833,801; rental to St.
from Cape Girardeau, Mo., to Hunter, Mo., 94 miles ; Campbell, Dun Louis Vandalia & Terre Haute, $549,990; less charges, $370,459, leav
can Co. to Kennet, 20 miles ; leases branch to Zalma, 9 miles ; total ing surplus, $179,531, against $148,585 in 1888-89. In 1885-6 profit to
operated, 123 miles. Successor to the Cape Girardeau Southwestern ; lessee was $23,687; in 1886-7 profit $117,821; i n ’87-8 profit $11,983;
name changed in May, 1891. The road is to be extended 45 miles from in ’88-9, $56,987; in 1889-90 profit $100,466. (V. 48, p. 68, 126; V.
TTnnt.PT- to Monmouth Springs on Arkansas State Line, and a branch is to 50. p. 2 4 2 ; V. 52, p. 2 7 8 , 832.)
be built from Puxico to Campbell, 30 miles. An extension is also pro
St. P a u l & D u l u t li.—Owns from St. Paul, Minn., to Duluth, Minn.,
tected to Fort Smith, Ark. Stock authorized, $7,500,000 ; outstanding,
$2 000,000 ; par, $100. A general mortgage of $7,500,000 is author 155 miles; branches to Clocquet, Grantsburg and Sandstone, 28 miles;
leases—Stillwater
& St. Paul Railroad, 13 miles; Minneapolis & Duluth
ized $1,325,000 of this amount to be deposited to retire the underlying
issues at maturity. Balance to be issued for construction of new road at Railroad, 13 miles; Taylor’s Falls & Lake Superior, 21 miles; Duluth
Short
Line,
Thompson
to Duluth, 18 miles; total, 247 miles. Between
not over $15,000 per mile, and for improvements upon the present line
at not over $3,000 per mile. There are also outstanding $150,000 7 per North Pacific Junction & Duluth, 24 miles, the road is owned jointly
with
the
Northern
Pacific.
cent incomes. In 1890 gross earnings, $165,807 ; net, $85,677 ; in
The Lake Superior & Mississippi Railroad was sold in foreclosure May
1889, gross, $146,507 ; net, $76,431. President, Louis Houck, Cape
1 ,1877, and this company organized June 27. The preferred stock is
Girardeau, Mo.
received in payment for lands at par. Three shares of common stock
St. L o u is Ir o n M o u n ta in & Sou th ern .—S e e M i s s o u r i P a c i f i c . have one vote, and each share of preferred has one vote. Preferred stock
St. L o u is & San F ra n c isc o .—S e e A tc h m so n T o p e k a & S a n t a F e , has a prior right to 7 per cent; then common to receive 6 per cent.
Dividends on common stock: In 1887, 3 and 15 in common stock; in
St. L o u is S o u th w estern .—Road extends from Bird’ s Point, Mo.,
opposite Cairo, 111., to Texarkana, Tex., 418 miles, and thence by 1888 and since, nil. Dividends on preferred since 1880; In 1881, 10
the Texas road to Gatesville, 305 miles ; total, main line, 723 miles ; stock; in 1882, 3*2 in cash; in 1883, 7 ; in 1884, 3Lj and 7 in preferred
branches, Mt. Pleasant to Sherman, 115 miles; Tyler to Lufkin (narrow stock; from 1885 to 1888, 7 ; in 1889, 5 ^ ; Jan. 16,1890, 2Lj; Sept. 1,4;
gauge) 89 miles; Corsicana to Hillsboro, Tex., 42 miles; Commerce to in 1891, March 2, 2*2. The second mortgage covers the right to leased
Fort Worth, 107 miles; Lewisville, Ark., to Shreveport, La., 60 miles; lines, but not the land grant.
The company has a land grant, of which 1,068,855 acres remained un
Altheimer to Little Rock, Ark., 43 miles; Malden, Mo., to Delta, 51
sold June 30,1890, and 65,441 acres of the Taylor’ s Falls branch.
miles •other branches, 12 miles ; total, June, 1891,1,244 miles.
From July 1,1890, to May 31,1891 (11 months), gross earnings were
This company is successor to the St. Louis Arkansas & Texas, whose
road was sold in foreclosure in October, 1890, the same property having $1,454.014, ag’st $1,299,374 in 1889-90; net, $530,581, ag’st $409,863.
1887.
$
Gross earnings....................... . 962,480
Net earnings.-. ........................ . 441,401
Rentals paid............................ . 255,883
JULY,
1891. J
RATLBOAD
STOCKS
AND
BONDS.
121
1 2 2
INYESTOES’
SUPPLEMENT.
[V ol , LIII,
•Jo l y , 1861.]
RAILROAD
STOCKS
AN D
BONDS.
133
Subscribers w i l l con fer a great fa v or by g iv in g im m ed iate notice o f any error discovered in tbese T a b les.
RAILROADS.
Bonds—Prinei*
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due*
Amount Rate per When
For explanation of column headings, &c., see notes of
of
Par
Where
Payable,
and
by
Stocks—Last
Road Bonds Value. Outstanding Cent Payable
on first page of tables.
Whom.
Dividend.
¿31. Louis Southwestern—Common stock..................
Preferred stock (5 per cent non-cumulative). . . . .
1st mort. certificates, $16,500 p. m., g old........o'
2d M.income cert., for $10,000,000,non-cum.,g.c
■Car trusts................................... -.............................
£1. Louis Van. <6TerreH .—IstM ., s.f. guar, not dr.c’ 158
2d mort., sink, fund, notdr’n ($1,600,000 guar.) ,c’ 158
St. Paul dt Duluth—Common stock............................
Preferred 7 per eent stock and scrip. . . . . . . . . . __
1st mortgage..................... ............. ..................... c’
167
2d mortgage.................................. ................. . o’ 167
Taylor’s Falls & Lake Sup., 1st M. gu., s. f. not dr.c*
21
Duluth Short L. IstM , guar.,cum.,s.f. not dr’n .c ’
25
Stillwater & St. Paul 1st mort., g. (not guar).. . . .
12
481. Paul Minn. <£ Manitoba—See Great Northern—
St. Paul <&No.Pacific—Stock ($10,000,000) authoriz’d 184
Western RR. Minn. 1st M. RR. covered by gen. M. 60*2
Generalmortg., guar., land gr. ($10,000,000).c*&r 218
San Ant. <k Aransas Pass—1st M., g., red. at 110.c* 152
1st M., exten., gold ($12,000 p. m.) red. at 110.o* 372
1st M. for $9,000,000, gold, $15,000 per m te. .c* 115
2d M., g., income for 5 years, $8,000 per * u le .,.. 639
Rolling stock lease warrants.............................. ..
Sandusky Mansfield <&Newark—Re-organized stock i ï é
1st M. ,int. gu.under lease byB. & O. and Cent. O... o* 116
$100 $16,500 ,000
100
20,000 ,000
1891
1,000
1891 500 &c.
1867
1868
1,000
1,000
100
1881
1887
1884
1886
1870
100
1,000
1,000
1,000
1,000
100
1877
1883
1885
1886
1888
1888
1,000
1,000
1,000
1,000
1,000
1,000
1869
1,000
"5 0
20,000;,000
4 g4. g.
602,,849
l,899i,000
1*7*
2,600,,000
7
4,660,,207 3 & 15 st
5,376.,910
2^2
i,ooo: ,000
5
2,000j,000
5
210 ,000
6
500 ,000
5
262 ,500
7
8,000 ,000
6.250.000
438,000
7.985.000
1.750.000
4.473.000
1.725.000
5.112.000
1.046.000
1,068,832
2.300.000
1*3
7
6 g.
6 g.
6 «•
g<
5K g.
"¿ ia
7
& N, N. Y., Central Trust Co, Nov. 1. 1989
& J. After ’90, when earned, Nov. 1, 1989
1891 to 1897
«Ss J N. Y., Central Trust Co. Jan. 1, 1897
& N.
do
do
May 1, 1898
N. Y., Of., 32 Nassau St. July 5, 1887
& 8
do
do
Mch. 2, 1891
& A
do
do
Aug. 1, 1931
«Ss O.
do
do
Oct. 1, 1917
A J.
do
do
Jan. 1, 1914
A S.
do
do
Sept. 1, 1916
A D.
do
do
Dec. 1, 1900
Q.—F.
M. «Ss N.
Various
J. «Ss J.
J. «Ss J.
A. & O.
A. «Ss O.
N. Y., Office, 35 Wall St.
N. Y., Winslow, L. & Co.
do
do
Jan.,1890, coup, lastpd.
Jan.,1890, coup, lastpd.
Apr.,1890, coup.last pd.
None paid.
May
May
Feb.
Jan.
July
O ct
Oct.
1,
1,
1,
1,
1,
1,
1,
1891
1907
1923
1916
1926
1938
1913
Feb. 1. Moss N. Bk., Sand’ky, O. Feb. 1, 1891
J. «Ss J. N. Y., Union Trust Co. Jan. 1, 1909
Fiscal year ends June 30. Report for 1889-90 was in V 51, p. 536.
85, 143, 207, 276, 345, 383, 538, 571, 788 ; V. 52, p. 204, 464, 499.
1888-89.
1889-90 574, 899; V. 53, p. 96.)
'
<Jross earnings.........................................................$1,406,865 $1,410,527
$402,178
Total net income.................
Sandusky M ansfield Sc N ew a rk .—Owns from Sandusky, O., to
$415,566
Disbursements—
Newark, O., 116 miles. Leased to Central Ohio, guaranteed by Balti
Rentals, interest, etc.............................................. $218,811
$258,915 more A Ohio, Feb. 23,1880, till Dec. 1,1926, with option to the Balt. A
Dividends..............................
295,040
134,117 Ohio Co. to renew for terms of 20 years each. It is operated as Lake
Erie division of the Baltimore A Ohio system. Rental is $201,850.
Total............................................... v................. $513,851
$393,032 In 1889-90 gross, $1,211,170; net, $271,397; profit to lessee, $47,162.
Balance from RR. operations..................... d ef.$ lll,6 7 3 sur.$22,534
San F ran cisco Sc N orth P acific.—Point Tiburon, Cal., to Ukiah,
Receipts from stumpage and lands.....................
111,596
192,848 Cal.,
106 miles, and branches, 56 miles. Consolidation of various com
def.$77 sur.$215,382 panies March 19,1889. Connects with San Francisco (6 miles) by com
Balance...........................
pany’s
steamer. Bonds issued at $25,000 per mile; trustee, Mercantile
—(V. 48, p. 129, 4 6 0 , 609, 829; V. 51, p. 241, 275, 536.)
Trust Company, New York; sinking fund, $25,000 per annum, and
St. P a u l M in n e a p o lis Sc M a n it o b a .—See Great Northern .
bonds drawn (or purchased) at 110 and interest. [See abstract of the
St. P a u l Sc N o r t h e r n P a c if ic .—Line of R oad—Brainerd to mortgage in V. 49, p. 241.1 Capital stock, $6,000,000; no floating debt.
From July 1,1890, to June 30, 1891 (12 months), gross earnings
Minneapolis, 139 miles, and branches to St. Paul, &e., 79 miles; total
218 miles. Owns terminals in Minneapolis on 20 acres, and owns in all were $832,647, against $755,294; net, $288,185, against $229,510: sur
*ome 400 acres about St. Paul and Minneapolis. The land grant (197,388 plus over charges, $80,511 against $26,731. J. F. Burgin, President
acres unsold March 1,1890,) is between Brainerd and Sauk Rapids; pro San Francisco. (V. 48, p. 800; V. 51, p. 2 05.)
ceeds of lands are first applied to purchase of Western Minneapolis
Savannah A m ericu s Sc M o n tg o m e ry .—(See M ap.)—Owns
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 from Omaha, Ga., on the Chattahoochee River,’ easterly, 190 miles, to
Lyons,
where connection is made with the Savannah A Western (Cen
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 tral of Georgia system), forming a direct line to Savannah, Ga. An
extension
is in progress from Omaha to Montgomery, Ala., 80 miles, of
The bonds are guaranteed by Northern Pacifle, Interest on coupon
•bonds is payable F. A A.; on registered bonds, Q.—F. The stock is which about 65 miles have been completed. See V. 52, pp. 322, 535
Under
a
traffic
contract with the Savannah A Western, through trains
placed in trust with the Farmers’ Loan A Trust Company, but power to
vote is in the Northern Paciflc Company; “ beneficial certificates,” en run via this line from Savannah to Birmingham, Ala. In 1891 com
pany
leased
the
Albany Florida A Northern, Cordele to Albany. Ga
titling holders to dividends, are issued. Of the stock $3,752,500 is
’
ow ned by Northern Paciflc. Dividends from 1883 to May, 1890, inclusive 35 miles.
This was formerly the Americus Preston A Lumpkin. Of the 1st
per cent per annum. In year ending June 30,1890, gross earnings
mortgage
bonds
$100,000
are
a
first
lien
on
38
miles
;
the
others
cover
were $2,052,099; rental from Northern Pacific, $740,652; other rentals
Ac., $161,274; total net income, $901,926, from which paid interest extensions, being a second lien on the 38 miles. The new consol,
Ac., $538,803; dividends, $330,000; total payments, $868,803; surplus mortgage is for $4,100,000 (Mercantile Trust Company of Baltimore
trustee). Stock authorizéd is $5,000,000; outstanding, $1,114,300 ; par
$33,123.—(V. 49, p. 23, 540; V. 51, p. 5 3 5 .)
$100. Car trusts and notes $328,837 (including interest), due vearlv
S a n A n t o n i o Sc A r a n s a s P a s s .—(See Map)—Owns from Kerrville 1891 to 1898, payable in monthly instalments.
*
y
to Aransas Bay, Texas,221 miles; Kenedy to Houston, 176 milesFrom July 1,1890. to May 31,1891 (lh months), gross earnings on
Yoakum to Lexington, 88 m iles; Skidmore to Alice, 43 m iles; Shiner to 181 miles were $455,525, against $213,634 on 152 miles in 1889-90 ;
Lockhart, 55 miles; branches to Corpus Christi, Rockport, Ac., 63 net, $193,893, against $101,518. Interest charges per month on road
m iles; total, 646 miles. Company was unable to meet July, 1890, in now operated, $11,400; on road when completed to Montgomery will
terest, and on July 14, B. F. Yoakum, Vice-President, and J. S. Me be $16,200. In year ending June 30,1890, gross earnings were $240,Namara were appointed receivers. See V. 51, p. 21, 85, 207. In June 260; net, $111,642; surplus over fixed charges, $44,874.—(V. 48 0
1891, receivers7 certificates for $350,000 were authorized, to be used for 369,764 ; V. 52, p. 322, 535,796.)
’
V
the immediate completion of 54 miles on the Waco Extension. For the
Savannah F lo rid a Sc W e ste rn .—Owns from Savannah, Ga., to
report to the bondholders on the condition of the property, see V 51
p. 345. The reorganization committee is F. P. Olcott, Joseph Wharton’ Chattahoochee, Fla., 258 miles; 3 branches to Bainbridge, Ac., 15 miles.
Henry Budge, E. P. Swenson, A. S. Heidelbach, J. Kennedy Tod and Dupont to Gainesville, 118 miles; Thomasville to Albany, 58 m iles;
Fred. Cromwell. Their plan of reorganization was published in March. Thomasville, Ga., to Monticello, Fla., 24 miles; Waycross to Jackson
1891 (see V. 52, p. 464), and provides as follows :
ville, 75 miles; Fort White, Fla., to Lake City, Fla., 20 miles; total, 569
The whole property shall be acquired by foreclosure or otherwise, miles. In January, 1888, control was purchased of the Brunswick A
Western Road, Brunswick to Albany, 171 miles, with bonds as above,
•and the following new securities created covering all the property •
the first mortgage bonds being guaranteed. In 1890 a controlling
1. First mortgage five per cent fifty-year gold bonds of
$1,000 each, carrying interest from July 1st, 1891:
interest in the Alabama Midland was acquired by the Plant Investment
Issue limited to ....................................... $16,800,000-$21,000 p. m. Co., which controls the system. See Alabama Midland ; also, Y. 51, p.
Reserved for extension to Llano and
50. The Metropolitan Trust Co., of N. Y., is trustee of the mortgages.
Austin and for additional rolling
The Savannah Florida A Western stock is $6,403,400 (par $100) and
2,100,000
stock as required........................ ........
dividends have been: In 1881,
per cent; in 1882, 6*2 ; in 1883, 7 ; in
1884, 4 ; in 1887,1% ; in 1889, 4 ; in 1891, April 1, 2. In 1889 gross
Present issue for the purposes of this reorganization___ $14,700,000 earnings were $2,954,624 ; net (after payment of about $100,000 for
2. Five per cent non-cumulative preferred stock........
•$5 250 000 extraordinary expenditures) $564,306 ; surplus over fixed charges.
3 . Common stock, par value $100 per share........
$5 250000 $116,562. In 1890 gross earnings, $3,038,473; net, $575,028; inter
Assenting security holders will receive (1) for old first mortgage 6 per est, $431,864. Total surplus Jan. 1,1891, $140,217 ; deduct dividend
•cent bonds, with July, 1890, and subsequent coupons attached, new (2 per cent), $131,946; balance, $8,271. H. B. Plant, President. New
first mortgage 5 per cent gold bonds, $1,000; new 5 per cent preferred York. (V. 51, p. 50 ; V. 52, p. 761.)
stock, $150, and new common stock, $150. (2) For each old first mortSavannah Sc W e ste rn .—Owns from Birmingham, Ala. (conneo
e ^ ^ v e r cent bond, October, 1890, and all subsequent coupons
•attached, new first mortgage 5 per cent bonds, $850; new preferred taon with Kansas City Fort Scott A Memphis), to Americus, Ga., 222
stock, $120; new common stock, $120. (3) For each old $1,000 second miles; Columbus to Greenville (narrow gauge), 5 0 miles; Opelika to
Roanoke, 37 miles ; Eufaula to Ozark, 60 miles ; Meldrim to Lyons 58
mortgage bonds, all coupons attached, new first mortgage 5 per cent miles
; total, 428 miles.
«
b«.on? 8’J H 5 ;
5 peE °®Bt Preferred stock, $250; new common
In May, 1891, the Chattauooga Rome A Columbus (which see) was
•stock, $250. (4) For each share of old stock (in the hands o f the public)
$100 in new stock.
' purchased for $400,000 consolidated 5s, the Savannah A Western guar
Each holder of $2,000 old firsts may subscribe to a cash fund created anteeing its $2,240,000 bonds. This acquisition adds 176 miles to the
to liquidate cash requirements for $850 of said fund, for which he will above mileage. See V. 52, p. 761.
This was a consolidation in August, 1888, of the Columbus A Western
Te5.?lv e .?1’,()0^ ? ewiir8ts’ $350 new preferred and $350 new common. and
other roads. Road belongs to the Central of Georgia system. Stock
The stock of the reorganized company is to be transferred to voting
$3,000,700 (par $100), all owned by the Central of Georgia. The
trustees in exchange for beneficiary certificates, the committee being
•named as trustees for three years from July 1,1891. Securities are consolidated mortgage (trustee, Central Trust Company, New York) is
depositedwith the Central Trust Company of New York in exchange for nominally $18,000,000, of which $1,560,000 held in trust for prior
liens; abstract of mortgage in Y. 49, p. 240; principal and interest is
for the Trust Company’s engraved receipts.
The Central Trust Company has received assents to the-plan of re guaranteed by Central Railroad A Banking Company of Georgia. In
organization as follows: $1,114,000 out of the $1,750.000 of the 1889-90 gross earnings on 386 miles were $889,362 ; net, $208,086,
1885s ; $4,379,000 out of $4,473,000 of the 1886s; all of the $1 725 - against $87,485 in 1888-89. President, Gen. E. P. Alexander, Savan
£00 of 1888; $3,975,000 of the $4,000,000 incomes, and $4,809,200 of nah, Ga.—(V. 47, p. 218 ; V. 48, p. 729 ; V. 51, p. 910.)
•the $5,000,000 stock.
^ ’
’
S c h u y lk ill V a lle y .—Owns from Palo Alto to Reevesdale, Pa., 11
From Jan. 1 to June 30, 1891 (6 months), gross earnings on 646 miles ; branches, 8 ; total, 19 miles. Leased to Philadelphia A Reading
miles were $762,903, against $728,346 on 510 miles in 1890 In the RR. for 999 years from Sept. 1,1861, at 5 p. c. on stock. No bonded debt.
calendar year 1890 gross earnings on 510 miles were *1 701 451
•against $1,438,425 on 413 miles in 1889. (V. 50, p. 107 • V 51 p’ 21 ’ I S c i o t o V alley Sc N ew E n g la n d .—Se e N o r f o l k A W e s t e r n ,
12 1
INVESTORS’
SUPPLEMENT.
[V cl. LIU.
KAILROAD
STOCKS
AND
BONDS,
Rip° ^
E
J u l y , 1891. j
N
12
«
INVESTORS’
SUPPLEMENT.
[V ol. LIIL
Subscribers w ill confer a great fa v o r b y g iv in g Im m ediate notice o f any error discovered In these T a b les.
Bonds —Prinoi INTEREST OR DIVIDENDS.
RAILROADS.
Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When
Slocks—Last
Par
of
For explanation of column headings, &c., see notes of
Whom.
Dividend.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
162
San Fran, a No. Pac.—1st M.,g.($4,500,000)s.f.c*<fcr
3.84
347
58
58
545
So. Ga. & Flor.. 1st Ms., end by State of Georgia.c*
2d mortgage........................................-- -- — - - -°
Sav.Fla. & West.,consol.M.for $6,500,000, g.c*&r
Monticello extension bonds.....................................
Brunswick & West. IstM .,guar.by S. F. & W ., .c*
Ï7 Ï
158
50
427
Columbus & Rome lstm ortgage..................., . . .c*
1st consol, mort.. gold ($18,000 per mile), guar.c*
Schuylkill <6 Lehigh—ls t mortgage............................
Scioto Valleu <6 N. Eng.—1st mortgage..................c*
Seaboard ¿R oanoke—St’k ($244,200 is pf. gu. 7 p.c.)
Debentures, redeem, at will after July 31,1916.r
1st mortgage for $2,500,000................................c*
Seattle Lake S. & E ast—1st M., g., $25,000 p. m.c*
Shamokin Sunbury <£Lewisburg—1st mort— c*&r
2d mortgage. . .. T................................................... c*
Shamokin Val. Pottsville—Stock, guar, by Nor. C.
Ï3 Ï
81
8Ï
218
31
31
29
28
49
49
40
Shreveport^ 'Houston—1st, g., guar, by H. E. &W.T.
1,000
1889
500
1885-6
1,000
1889
1867 500 &c.
1,000
1869
1,000
1869
1884
1,000
1888 500" &c.
1,000
1888
1,000
1881
1,000
1884
1,000
1889
1,000
100
1886 100 &c.
1,000
1886
1,000
1880
1,000
1882
1,000
1890
50
1871 500 &c.
100
1880 l,000&c
1,000
1881
1889
4,176,000
5 g- J. & J. N. Y. ,46Wall,& Fr’nk’frt
350,000
7
J. & J. New York & Americus.
2,590,000
6 g. J. & J. Baltimore & Americus.
1,780,000
J. & J. N.Y.,H.B.Plant,&Savan
7
464,000
7
M. & N.
do
do
M. & N.
200,000
do
do
7
4,056,000
do
do
6 g. A. & O.
A. & O.
290,400
6
do
do
3.000.
000
J. & J. N.Y.,12 W.23d St.& Sav.
3.000.
000 5 gNone paid.
800,000
6
J. & J. N.Y., Security & Tr. Co.
do
do
200,000
6
J. & J.
do
do
7,755,000
5 g. M. & S.
600,000
4*2 M. & N.
5,000,000
4 g. M. & N. N. Y.,Central Tr. & Phil
1,302,900 3*2 com. M. & N. Balt., Farm.& Plant.Bk.
Portsmouth, Va.
690,000
6
F. & A.
J. & J. N.Y ., Baltimore & Phila.
650,000
5
5,450,000
6 g. F. & A. N. Y., Union Trust Co.
M. & N. Phila-., Phil. &Read.RR.
1,000,000
5
do
do
1,000,000
6 g. J. & J.
869,450
3
F. & A. Phila., Penn. RR. Co.
do
do
2,000,000
7 g. J. & J.
1,000,000
4
J. & J. N. H., Nat. N. H. Bank.
do
do
200,000
413 M. & S.
400,000
Interest in default.
6 g. J. & J.
Jan. 1, 19 1 »
1905 & 1900
July 1, 1919
July 1, 1897
May 1, 1 8 9 »
May 1, 18 9 »
Apr. 1, 1934
Apr. 1, 1899
Jan. 1, 1938
Irredeemable.
Jan. 1, 1911
Jan., 1914
Mch. 1, 1929
Nov. 1, 198»
May 1, 1891
Aft. July,1910
July 1, 1920
Aug. 1, 1931
May 1, 1912
July 1, 1925
Aug. 1, 1891
July 1, 1901
July 9, 1891
March, 1910
July 1, 1914
1
Seaboard & R o a n o lte .—Owns Portsmouth, Vav to Weldon and appointed receiver. There are also $178,000 old 5 per cent first mortgage
branch, N. C., 81 m iles; leases Roanoke & T. R. Railroad, 29 miles. extended bonds, payable 1892, and $8,000 7s, due 1907, in addition to
Also has a controlling interest in the Raleigh & Gaston Railroad, 109 those above. On July 1,1891, the Receiver paid to date interest on all
miles, and thus in the Raleigh & Augusta Air Line, 107 miles, and Caro bonds having a lien prior to that of first consols and in February, 1891,
lina Central, 269 m iles; also controls Pittsboro Railroad, 11 miles, and he paid the coupons due April 1,1890, on the first consols. (See V. 52,
Carthage Railroad, 11 m iles; total of all, 618 miles. Of the stock, $1,- p. 41.) The stock is $4,204,160; par, $100; car trusts, $74,434, due
058,700 is common, $200,000 is 1st preferred 7 per cent guaranteed, and December, 1893.
From July 1 to May 31, 1891 (11 months), gross earnings on 277
$44,200 is 2d pref. guaranteed. The debentures above are to be included
in any 2d mortgage issued. After August 1,1916, they are payable at miles were $1,591,753, against $1,339,038 in 1889-90 on 247 m iles;
net
$555,336, against $428,517.
•will as a whole, or in 10 per cent instalments. Semi-annual dividends
Review of operations for year ending June 30, 1890, was in the
o f 5 per cent were paid for several years, but in November, 1890, and
C
h
r
o n ic l e , V . 5 1 , p . 2 2 3 .
May, 1891, the dividend paid was 3^2 per cent.
INCOME ACCOUNT.
With Raleigh & Gaston guarantees the bonds of the Georgia Carolina
& Northern, which see.
1886-7.
1887-88.
1888-89.
1889-90.
In year ending June 30, 1890, gross earmngs on road proper, 114
$
$
$
$
niiles, $681,619; net, $275,267; other income, $90,349; total, $365,- Gross earnings........... 1,131,203
1,256,587
1,279,692
1,420,762
616; surplus over fixed charges, $235,1 5 4 ; from which paid dividends Oper. exp. and taxes.. 894,832
853,141
1,009,497
973,989
(10 per cent), $130,290; surplus over dividends, $104,864, against
$132,618 in 1888-89. J. M. Robinson, President, Baltimore, Md. (Y.
403,446
270,195
446,773
Net earnings........ 236,371
46, p. 539, 678, 827; Y. 49, p. 435 ; V. 51, p. 344; V. 52, p. 350, 427.)
—(V. 50, p. 669, 741 ; V. 51, p. 207, 223, 416, 910 ; Y. 52, p. 41.)
South Pacific Coast (N a rro w -g a u g e).—Owns from Alameda
Seattle L ake Shore & E a ste rn .—Owns from Seattle to Sallal
Prairie and branches, 75 m iles; Spokane Falls to Davenport, 50 m iles; to Santa Cruz, 77 m iles; branches, 27 miles; total, 104 miles. The road is
Snohomish Junction to a connection with the Canadian Pacific at the leased for 55 years from July 1,1887, to the Southern Pacific Company,
international boundary line, 116 miles; total, 241 miles. In July, 1890, which guarantees the bonds and owns all but $7,000 of the stock.
the North. Pac. purchased about $3,000,000 of the $3,174,600 stock and 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;
guaranteed by endorsement both principal and interest of the bonds.
From July 1,1890, to December 31,1890 (6 months), gross earnings surplus over charges, etc., $18,704. (V. 49, p. 540.)
on 100 miles were $241,729; net, $78,822. In year 1889-90, on 90
Southern Pacific C O M P A N Y .—( See Map)—This, corporation
miles, gross, $364,347; net, $155,420; fixed charges, $159,875; deficit, was
organized August 14,1884, under the laws of the State of Kentucky.
$4,454. (Y. 50, p 314; V. 51, p. 114, 498.)
It has acquired a trans-Continental system of railroads, with steam
S h a m o k in Sunbury & L ew isb u rg .—Line from Shamokin to ship lines from New Orleans to New York, etc. On Jan. 1,1891, it had
West Milton, Pa., with iron bridge over Susquehanna, 31 miles. Leased proprietary lines in its Atlantic system aggregating 1,742 miles; in its
to Philadelphia & Reading till July 20, 2883, and used for coal traffic Pacific system, 2,396 miles; total proprietary lines, 4,138 miles; leased
northward. In 1890 stock was increased to .$2,000,000 and new 2d lines (other than proprietary lines) in Pacific system, 2,088 miles; total
mortgage was issued. Stock. $2,000,000; par, $50. (V. 51, p. 21.)
railroad lines, 6,226 miles.
The leased lines other than the proprietary lines are: The Central
S h a m o k in V alley & P o ttsv llle .—Line of road, Sunbury, Pa., to
Mt. Carmel, Pa., and branch, 30 miles. Leased February 27, 1863, for Pacific, the Oregon & California and the California Pacific railroads.
999 years to the Northern Central Railway Co., with a guarantee of The terms on which these roads are operated are stated under the head
taxes, interest on the bonds and 6 per cent on the $869,450 stock (par of each company respectively.
The proprietary lines, with a total mortgage indebtedness Jan. 1,
$50), of which $619,400 is owned by the Northern Central. Pennsyl
vania RR. owns $605,000 7 per cents. Gross earnings for 1889, $403,- 1891, of $115,718,167, are all practically owned—only $2,220,802 out
of
their total stock of $149,964,752 not being held on Jan. 1,1891, by
242; net, $213,559. Gross earnings for 1888, $409,677; net, $195,636.
the Southern Pacific Co. Five of the proprietary companies as below
George B. Roberts, President, Philadelphia.
designated
are operated for 99 years from April 1,1885, under the
Shore Line (C o n n ).—Owns New Haven, Conn., to New London,
omnibus lease, under which the Southern Pacific Company
Conn., 49 miles. Leased to New York & New Haven RR. Co. in perpet so-called
agrees
to
maintain
the roads, to pay all fixed and other charges, includ
uity November 1,1870, at $100,000 net per annum. Dividends usually ing interest on bonds
and floating debt, and to divide the total net
8*4 or 3*2 per cent in January and 4 per cent in July. Operations and profits from operating, after
making these payments, among the several
earnings are included in the reports of the lessee.
parties to the lease, the Southern Pacific Company to receive 10 per cent
Shreveport & H o u s to n .—From Shreveport, La., to Logansport, of such profits, and each of the other five companies the percentage
La., 40 miles; connects with Houston East & West Texas Road, forming indicated below.
with that a narrow gauge line of 230 miles from Shreveport to Houston.
Proprietary lines operated under omnibus lease: Southern Pacific o f
Mr. M. E. Howe was appointed receiver January 1,1890, and sale un California, receiving 44 per cent of net profits; Southern Pacific of Ari
der foreclosure took place on June 2,1890. (V. 50, p. 353, 875.)
zona, 10 per cen t; Southern Pacific of New Mexico, 6 per cen t; Mor
Silver Springs Ocala & G u lf.—Projected from Palatka, Fla., to gan’ s Louisiana &Texas, 23 per cen t; Louisiana & Western, 7 per cent.
Point Pinellos onTampa Bay, about 250 miles, and completed to Homo- Proprietary lines not operated under omnibus lease: South Pacific
sassa, 50 miles, with branches, 12 miles. Stock, $2,500,000, par $100. Coast, Northern Railway, Northern California, Texas & New Orleans,
There is a land grant of 13,840 acres per mile, of which the mortgage Galveston H am s. & San Antonio, Gulf Western & Texas, N. Y. Texas
& Mexican. For further information respecting these companies, see
covers 4,000 acres per mile. Thomas C. Hoge, President, 56 Wall St.
statement for each.
Siou x City & N o rth ern .—(See Map) —Owns road, completed in separate
Stock authorized, $150,000,000. See V. 48, p. 428.
February, L890,fromSiouxCity northerly to Garretson, So. Dak., 96miles.
Price
of
1886, 3014®41i2; in 1887, 29%®36%; in 1888,19
A t Garretson connection is made with the Great Northern, with which ® 27 *2; in stock.—In
1889, 211a,® 3718; in 1890, 221a'S)3714; in 1891, to July 17,
there is a traffic contract for thirty years. The road forms part of the
inclusive,
23@33%.
Great Northern’s through route from Sioux City to Duluth, a distance of
From January 1 to May 31, 1891 (5 months), gross earnings on
435 miles. The mortgage (trustee, Manhattan Trust Company) is the
whole system were $18,559,552, against $17,698,968 in 1890; net,
limited by supplemental deed to $1,920,000, the amount now out $6,196,579,
against $4,756,876.
standing. Stock authorized, $10,000,000; outstanding, $1,440,000.
The
annual report for 1890 was given at length in C h r o n i c l e V .
From January 1 to May 31, 1891 (5 months), gross earnings were 52, p. 716,
719.
Earnings of the whole system, including steamship
$178,706; net, $75,184. In 1890 gross, $310,046; net, $133,648. (V. lines, were as below
given in 1889 and 1890. The profits accruing to
50, p. 276, 353; V. 51, p. 416, 459.)
the Southern Pacific in 1890 under the omnibus lease were $245,999.
S ou th Round.—
Under construction from Savannah, Ga., to
1889.
1890.
Columbia, S. C., 140 miles, connecting at Columbia with the Richmond & Average mileage operated............................. 5,990
6,053
Danville for Washington and at Savannah with the Savannah Florida &
$
$
Western for Florida points. The Savannah Construction Company, Gross earnings........... ij.................................... 46,467,963
46,467,963
48,352,504
with a capital of $737,000, is building the road and hopes to have it Operating expenses......................
30,406,427
31,155,103
completed in October, 1891. Track laid with 60 lb. steel Tails. The
mortgage is for $2,250,000; trustee, Mercantile Trust & Deposit Com Earnings over operating expenses..................16,061,536
16,061,536
17,197,401
pany of Baltimore. President, Mr. H. M. Comer, Savannah.
509,600
Trackage and rentals............................................ 521,952
South C aro lin a.—Owns from Charleston to Augusta, S. C., 137
T ota l.......................- ........-......................... .16,583,488
17,707,007
16,583,488
miles; branches to Columbia, 68 miles, and to Camden, 38 miles; exten
Deduct—
sion, 4 miles; total main line and branches, 247 miles. The Carolina
1,234,298
Cumberland Gap & Chicago Railroad, from Aiken to Edgefield, 25 Taxes................................................................... 1,218,510
Betterments
and additions............................... 436,508
265,625.
miles, and the Columbia Newberry & Laurens Railroad, from Columbia
.10,472,892
10,259,819
to Clinton, 64 miles, are operated under a temporary arrangement Interest on bonded debt...................................10,472,892
3,569,551
Rentals, &o......................................... - ............ . 3,109,381
o f the receiver of this road, making 335 miles.operated.
Sold in foreclosure July 28,1881, and on Jan. 1, 1889, the company
.15,237,291
15,329,293
T otal.....
- ............................................15,237,291
defaulted again. Foreclosure suit under first mortgage is pending, and
plan of reorganizationwas given in V. 49, p. 174, but some first mortgage
2,377,713
Surplus......................................................... 1,346,197
bondholders opposed this, and in October, 1889, D. H. Chamberlain was
127
BONOS.
AN D
STOCKS
RAILROAD
.July, 1891.]
138
INVESTORS’ SUPPLEMENT.
I V o l . L III.
Subscribers w ill confer a great fa v or by g iv in g im m ed iate notice o f a n y error discovered in these T ables.
\Bonds—Princi
INTEREST OR DIVIDENDS.
RAILROADS.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocte—Last
Par
of
For explanation of column headings, &c., see notes of
Whom.
Dividend.
Road. Bonds Value. Outstanding
Cent. Payable
on first page of tables.
50 1888
Silver Sp. Ocala <&Gulf—ls t,l. gr. g.($15,000p.m.)c*
96 1890
Sioux city <6Northern—1st mortgage, gold.......- .c*
1891
South Bound—1st mortgage for $15,000 per m ile..
South Carolina—1st mortgage, sterling loan........... 247 1868
1st consol, mortgage (for $5,000,000) — ............. 247 1881
2d consol, mortgage.............................. ................c* 247 1881
Income mortgage bonds (not cumulative)..---- c* 247 1881
South Florida—1st mort.,gold, ($12,000 per mile) .c* 189 1885
So. <£No. Alabama—lstM.,s.f.not dr’n; guar.byL.&N. 189 1873
2d mort. bonds, s. f. $20,000 (owned! by L. & N.). 189 1880
Consol, mortgage (for $10,000,000), gold, guar.c* 189 1886
S.Pacific oast—IstM ., g., guar. (s. f. begins 1912)c 104 1887
South Pennsylvania—Stock (for $20,000,000)........
Southern Central (N. Y.)—Consol, mort. convert-..c 114 1882
1887
Funded coupons consol, m ortgage.........................
Southern Pacific COMPANY—Stock($150,000,000) 5,931
South.Pac. o f Arizona—IstM ., ser. A&B,guguar.c<fcr 384 ’79-’ 80
ì 1875
So.Pac.fO al.)—lstM .,g., series A ) land gimnt... c* "
Series B, gold.......................... . ( sink’g f|und..c* 1,042 11875
f 1876
Series C & D, gold..................... Jnot subject, .c*
J 1882
Series E & F, gold
...............J to call........ c*
1887
93
So. Pac. Branch 1st mort. sinking fund in 1897
General mortgage, gold (for $38,000,000)---- c*&r 1,373 1888
1875
45
Stockton & Copperopolis IstM ., g. (guar, by C.P.)
Southern Pacific o f New Mexico—1st mort. gold.c&r 167 1881
Southwestern (G a.)—Stock, 7 p. c., guar. Cent. Ga.. 333
89
Southwest Pennsylvania—Stock.................. .........
89 1877
1st M., sink, fund $5,000 yearly, not drawn.......r
$1,000
1,000
$3,000,000
1,920,000
Various
1,000
1,000
1,000
1,000
£200
1,000
1,000
1,000
83,092
4 ,883,000
1 ,130,000
2 ,538,000
2!,256,000
4 ,496,920
2 , 000,000
2 ,971,000
5 ,500,000
1 ,499,900
3 ,300,000
475,740
116 ,074,890
10 ,000,000
13 ,564,500
4!,795,000
8 ,609,000
5 ,415,000
3 ,578,000
10!,542,000
500.000
4 ,180,000
5 ,147,500
1 ,499,900
900.000
200 &c.
ido
1,000
50Ó &c.
500 &c.
500 &c.
500 &c.
1,000.
500 &c.
1,000
100
50
1,000
6 g. J. & J .‘New York, 56 Wall St. Juli 1, 1918
5 g. J. & J. N.Y., Manhattan Tr. Co. Jan. 1, 1920'
On demand.
London.
5 g. J. & J.!
6 g. A. & O. Coup’n A pr.,1890, paid. Oct. 1, 1920J. & J. | Last paid July, 1888. Jan. 1, 1931
6
Jan. 1, 1931
Yearly.
..7 -.........
6
Jan. 1, 1915
............. .
6 g. J. & J.
6 g. M. & N.1 London, Baring Bros. May 1, 1903:
6 g. A. & O. N. Y. Of., 23 Nassau St. Apr. 1, 1910Aug. 1, 1936F. & A.I
do
do
Ì4 g.
g - J. & J. N. Y., S. Pac., 23 Br’d St. July 1, 1937
4
F. & A.
F. & A.
6 g.
6 g.
6 g.
6 g.
6 g.
6 g.
g*
5 g.
6 g.
3*2
5
7
J.
A.
A.
A.
A.
A.
A.
J.
J.
J.
M.
F.
&
&
&
&
&
&
&
&
&
&
&
&
In default.
J. N. Y., S. Pac., 23 Br’d St.
O. N .Y .,S .P ac.,23B r’dSt.
O.
do
do
do
do
do
do
do
do
do
do
do
do
J. New York, 23 Broad St.
D. Savannah and Macon.
sJPhila., 233 S. Fourth St.
A.!
do
do
Feb. 1, 1922
Nov. 1, 1897'
Mph., 1909-1G
Apr. 1, 1905Oct. 1, 1905
Oct. 1, 1906Apr. 1, 1912Apr. 1, 1937
Oct. 1, 1936
Jan. 1, 1905
Jan. 1, 1911
«June
ML 1,
- , 1891
-----Mar. 31, 1891
Feb. 1, 1917:
Of the surplus here shown for 1890 there was due proprietary com ' 000 (par, $50.) The mortgage covers 5,000 acres coal lands. Road
panies for earnings remaining after payment of operating expenses, Leased till 1934 to the Pennsylvania & New York Canal & Railroad:
taxes and charges, the following amounts : To proprietary ceompanies Company; rental, $40,000 per annum.
under omnibus lease, $2,213,998; to other proprietary companies,
Staten TslandL—Clifton to Tottenville, 13 miles. Capital stock
$632.201; due from California & Oregon, $259,429; leaving a nominal originally $210,000, par $15 per share, but being bought by investorsdeficit from the operations of the year of $209,057. Balance to credit for $65 a share this is now taken as par value, and whole amount asof income account January 1,1891, $24,582,214.
$910,000. Leased to Staten Island Rapid Transit Co. for 99 years from
—(V. 51, p. 172; V. 52, p. 571, 702, 7 1 6 , 7 1 9 ; V. 53, p. 59.)
July 31,1884, at $80,600 per annum, which pays $4 per share on stock:
Southern Pacific o f A r izo n a .—This is the connecting line of Interest on bonds and organization expenses.
the Southern Pacific of California, extending from Yuma to New
Staten Isla n d R a p id T ran sit R R .—Owns line of road around-'
Mexico boundary, 384 miles. The stock is $19,995.000, all but $2,400 the Staten Island shore, east and north sides, from Vanderbilt Landing:
being held by Southern Pacific Co. The bonds consist of series A, $6,000,- (junction with the Staten Island Railway) to a point opposite Elizabeth
000, due 1909, and Series B, $4,000,000, due 1910. Operated under port, N. J.; total owned 10 miles; leases Staten Island Railway, 13 miles:
lease to Southern Pacific Oo., the lessee paying all charges and also 12 total operated 23 miles. It has a 99 years’ lease of the Staten Island
Railway and controls the ferries to New York City. The bridge over theper cent of the net profits of the whole Southern Pacific system.
From January 1 to May 31 (5 months) gross earnings in 1891 were Kills at Elizabethport was completed in 1890, and since July 1.
1890 the entire freight traffic of the Baltimore & Ohio RR. Co. to and
$812,716, against $855,125 ; net, $224,751, against $293,646.
In 1890 gross earnings were $2,000,594; net, $685,933; deficit under from New York has been handled by this company. See V. 51, p. 718charges, $25,276; net profit due the company under the lease, $245,999. The Baltimore & Ohio guarantees the 2d mortgage bonds of this com
Southern Pacific (o f C alifo rn ia).—(/See M o p . ; —L i n e o r R o a d . pany, and owns a majority of its stock of $500,000 (par $100). The
—This is the title of a consolidation May 4, 1888, of several lines in income bonds are held by the Baltimore & Ohio and the Staten Island'
California, including the company of the same name, which had been Rapid Transit companies, one-half each.
From July 1, 1890, to May 31, 1891 (11 months), gross earningsformed 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 were $913,724, against $827,271 in 1889-90; net, $283,427, against
$238,735.
For nine months ending March 31, 1891, surplus over
to and opt rated by the Atlantic & Pacific RR. Co. Balance leased to the
Southern Pacific Co., which owns most of the stock, the lessee paying charges was $24,249, against deficit of $19,032 in 1889-90.
Fiscal year now ends June 30. In year ending June 30,1890, gross
the interest, fixed charges, betterments and additions, and $1,340,350
per cent of the surplus income of all the roads operated under the earnings were $944,419; net, $295,980; deficit under fixed charges,.
$2,904. In year ending September 30,1888, gross earnings were $907,“ omnibus lease.”
759; net, $305,162; surplus over interest, taxes, rentals, &c., $25,180.
S t o c k a n d B o n d s .—The authorized stock is $90,000,000, par $100, of —(V. 49, p. 145, 617, 688, 789 ; V. 50, p. 207, 622; V. 51, p. 172, 609;;
which $61,821,900 is outstanding, all but $1,340,350 being held by the V. 52, p. 239, 707.)
Southern Pacific ( ompany. The first mortgage bond j of the several
Su m m it R r a n c b (P a .)—This company’s business is almost?
series are all equally secured. They are being gradually retired with
proceeds of land sales, &c. They are not subject to call. There is also entirely in mining coal; it leases the Lykens Valley RR., Millersburg
a sinking fund of $100,000 per year. The new mortgage for $38,000,- to Williamstown, Pa., 20 miles, and has a small branch of its own to
000 is dated August 25, 1888, to cover old line and new roads acquired; Summit Mines, % of a mile. Operated by the Northern Central under
trustee, Central Trust Company. In April, 1891, it was a first lien on contract. Pennsylvania RR. owns $2,190,100 stock and $480,000 bondsFrom January 1 to May 31,1891 (5 months), gross earnings were
469 miles. See mortgage abstract, V. 49, p. 509.
L a n d G r a n t .— The land grant was 12,840 acres per mile, and proceeds $508,566, against $360,080 in 1890; net, $40,412, against deficit,.
of sales go to retire bonds. The total lands unsold January 1,1891, $41,745. Including Lykens Valley net was $33,117, against deficit,.
were estimated at 7,250,000 acres, but a large proportion of this is bar $51,469.
.
In 1889 gross earnings were $1,191,142; net, $66,450; deficit under
ren and useless for agricultural purposes without irrigation. In 1890
the net sales were 96,758 acres, for $594,210; interest on deferred charges, $14,049. In 1890 gross, $1,123,754; net loss, $20,769 ; deficit:
payments, $155,302; land notes outstanding January 1,1891, $3,006,- under charges. $101,199. (V. 46, p. 173, 228; V. 50, p. 230.)
293.
Sunbury H a z le to n Sc W ilk e sb a r r e .—Sunbury to Tomhicken
From January 1 to May 31 (5 months) gross earnings were $3,288,- Pa., 43 miles. Foreclosed March, 1878. Of 1st mortgage $1,000,000627 in 1891, against $3,302,821 in 1890; net, $1,142,020 in 1891, is series A. Stock ($1,000,000) and $182,000 lsts (series B) and $488,against $954,857 in 1890.
600 incomes are owned by the Pennsylvania RR., which pays net earn
La 1890 gross earnings of both divisions were $8,696,786; net, ings as rental. Sinking fund for 1st mortgage now draws about $9,500$3,251,639; adding rental ($436,266) received from Atlantic & Pacific bonds yearly at par. Gross earnings in 1890, $547,106; net over
RR., total net income, $3,687,905; surplus over charges, $689,839; net expenses and taxes, $257,199, against $225,392 in 1889; surplus over
profit due the company as per omnibus lease, $2,082,399. (V. 52, p.643. fixed charges, $115,099; dividends (6 per cent), $60,000. J. N. Du
Southern Pacific o f New M e x ic o .—Owns Arizona State Line to Barry, President, Philadelphia. (V. 48, p. 763; V. 50, p. 702; V. 52, p Rio Grande bridge, 167 miles. Operated under lease by Southern Pacific 761.)
Cjm pany, the lessee paying all charges and 6 per cent of net profits of
Sunbury Sc L e w isto w n .—Selinsgrove Junction to Ijewistown, Pa...
the whole Southern Pacific system. Stock, $6,888,800 (par $100), all 43 miles. Leased for 99 years from July 1,1876, to Pennsylvania Rail
but $2,500 being held by Southern Pacific Company. Sinking fund road for contingent interest in net earnings, which in 1886 were
March 1,1891, $209,958, invested in Gulf Har. & San Antonio and So. $123,536; in 1887, $156,709; in 1888, $123,619; in 1889,$154,179; in.
Pacific of California bonds. From January 1 to May 31, 1891 (5 1890, $224,967.
months), gross earnings were $428,456, against $454,373; net $189,Suspension Hrldge Sc E rie J u n cto n .—East Buffalo Junction891, against $187,536. Gross earnings in 1890, $1,030,951; net,
$452,363; surplus over charges, $164,837; net profit due company to Niagara Falls and Suspension Bridge, 23 miles; Lockport & BuffaloRailroad leased, 14 miles; total operated, 37 miles. Road opened Janu
under lease, $147,599.
ary, 1871. It is leased to New York Lake Erie & Western Railroad Com
Sou th w est P e n n sy lv a n ia .—Greensburg, Pa., to Fairchance, Pa. pany at 30 per cent of gross receipts, which are guaranteed to be not
44 miles, and branches, 60 m iles; total, 105 miles. Opened April 1,1873,* less than interest on bonds, $70,000 per annum. Lessees own $203,000
and leased to Pennsylvania Railroad, which operates it at cost, pay of the stock ($500,000).
ing net earnings as rental. Pennsylvania Railroad owns $1,057,250
Syracuse B in g h a m to n & N ew Y o r k .—Owns from Geddes, N
o f stock and $600,000 of bonds. An increase of stock from $1,000,000
to $3,000,000 was authorized in November, 1889. In 1890 gross earn Y to Binghamton, N. Y., 81 miles. Chartered as Syracuse & Bingham
ings were $1,051,340; net earnings, $431,369 ; surplus over interest ton, and opened October 18,1854; foreclosed and reorganized April 30,.
1857, and controlled by Delaware Lackawanna & Western. From July
and 10 per cent dividends, $218,104. (V. 49, p. 654.)
1 1890, to March 31,1891 (9 months), gross earnings were $624,319,.
S o u t h w e s t e r n (G a .)—Owns Macon, Ga., to Eufaula, 144 miles, and against $645,829 in 1889-90 ; net $282,201, against $290,808 ; surplusbranches to Columbus, &c., 189 miles. Leased in perpetuity August 1, over charges, $152,268, against $155,446. In year 1889-9Ö, gross, .
1869, to the Central Railroad of Georgia, which assumes the liabilities $856,594; net, $411,282; charges, $180,267; dividends (8 per cent),.
and guarantees 7 per cent on the stock. In year ending June 30,1890, $200 000; balance, $31,015.—(V. 49, p. 174, 617, 789; V. 51, p. 345; V.
gross earnings were $1,269,847; net, $276,932.
52, p. 280, 707.)
Spokane F a lls Sc N orth ern .—Owns from Spokane Falls, Wash
Syracuse Geneva Sc C orn in g.—Owns from Corning, N. Y., toington, to Little Dalles on Columbia River, 127 miles. Completed in Geneva, N. Y., 58 miles, and Penn Yan to Dresden, 6 miles; total, 64
August, 1890. Extensions projected. Mortgage covers entire property. miles. This road was opened December 10,1877, and is leased to the
Manhattan Trust Company, New York, trustee of mortgage. Stock Fall Brook Coal Company at a rental of 33% per cent of its gross earn
authorized and outstanding, $2,500,000; par, $100. Treasurer, Alfred ings. Stock is $1,325,000 (par $100), of which New York Central &
C. Chapin, 192 Broadway, New York City.—(V. 48, p. 369; V. 49, p. 301.) Hudson River owns $662,600, besides $113,000 7 per cent bonds. In.
Spuyten D u y v ll Sc P o rt M o rris.—Road is 6 miles in length and Igg9_90 gross earnings were $636,906; net, $104,697; rental to Syra
eonnects the New York Central & Hudson with the New York & Harlem. cuse Geneva & Corning, $212,302; taxes, $10,153; deficit to lessee,Leased to New York Central November 1,1871, till December 31,1970. $117,757. (V. 49, p. 579.)
Rental is 8 per cent on capital stock of $989,000.
Syracuse O ntario Sc N ew Y o r k .—Owns from Syracuse, N. Y., toState L in e & S u lliva n .—Owns from Monroeton, Pa., to Berenice Earlville, N. Y., 45 miles. The road was twice sold in foreclosure andc
Fa., 25 miles, and operates extension to Lopez, 4 miles. Stock, $990,1 reorgani*'*1 under present name in 1883. The West Shore acquired con—
139
BONDS.
KAJLLROAD STOCKS AND
J uly , 1891.j
130
INVESTORS’
SUPPLEMENT.
[Y o l . L lir.
Jcly, ih91. i
RAILROAD
STOCKS AND RONDS.
99
INVESTORS’
133
SUPPLEMENT.
[V ol. U H
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v in g im m e d i a t e n o tic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
RAILROADS.
For
e x p l a n a t i o n o f c o l u m n h e a d in g s , & c ., s e e n o t e s
o n f ir s t p a g e o f t a b le s .
Bonds—Princi •
INTEREST OR DIVIDENDS.
pal,When Due.
Miles Date Size, or
Amount Ip.t,,
when Where Payable, and by Stocks—Last
of
of
Par
Outstanding!
ç
eil^
payable
Dividend.
Whom.
Road. Bonds Value.
kane Falls A Northern—1st M.,$20,000p.m.,g.c* 127
6
\yten Duyvil&P’ tMor.—Stock,8 p.c.gu. N.Y.Cent.
25
State Line & Sullivan—1st mortgage..................... c
13
Staten Island—1 st mortgage........................ - - - - — •
StatenIsl. Rap. Tran.—1st M., $ or £, s. f. not dr’n.c* AU.
2d mortgage endorsed by B. & O., gold............ c&r
Incomes, gold (non-cumulative).............................
20
Summit Branch (Pa.)—Stock............................. .......
20
1st mortgage, sinking fund, not drawn...... - -----43
Surib’ry Hazle. <t Wilkesb.—1st,Ser.A&B.,dr. at lOO.c
43
2d mortgage, income.......... ............................... c&r
43
Sunbury A Lewistown—Stock....................................43
1st mortgage........................ - - — - - - - - -------- - - 9
23
Suspension Bridge A Erie Junction—1st M. gu.byErie
81
Syracuse Binghamton A New York—Stock........ . . . .
81
Consol. M. (prin. andint. guar, by D.L.&W.).c &r
57
Syracuse Geneva A Corning—IstM ., s.f.dr’natpar.c
57
45
Syracuse Snf?A New York—1st mort.for $ i , i 66,000
45
2d mortgage, income...............................................
45
Mortgage for $350,000.........................................
133
Tennessee Midland—1st mort., g., $20,000 p. m. .c
133
2d mortgage, income non-cum. ($10,000 p. m ). c
Terre Haute A Indianapolis—Stock................ - ........c
1st mortgage (provided for by consol, mort.) .c<fer i Ï 4
114
Consol, mortgage for $2,200,000.......... . . . . . . . . . .
Notes issued to St. L. Vandalia & Terre H aute..
’ *40
Ind. &L. Mich. .1st mort., guar., $12,000 p. m. .c
r-
1889
1879
1873
1883
1886
1885
1874
1878
1878
1876
1870
1876
1875
1879
1883
1883
1887
1888
1873
1885
1890
1889
$1,000 $2,546,000
989.000
100
300.000
100 &c.
300.000
1,000
1,000,000
1,000
1,000
2.500.000
4.500.000
1,000
4,010,350
50
1.148.000
1,000
1.185.000
100 &c.
1.350.000
100 &c.
50
600.000
500.000
500
1,000
1,000,000
100
2.500.000
1,000
1.966.000
820,800
100 &C
600.000
1,000
900.000
3,000
500.000
(?)
1,000
2.604.000
1,000
1.064.000
50
1,988,150
1,000
1.600.000
1,000
600.000
25,000
357,665
480,000
1,000
J. & J. IN. Y., Chase Nat. Bank.
J. & J. N. Y., Gr’d Cent. Depot.
J. & J. N. Y., Union Trust Co.
6
A. & O. N. Y., foot Whitehall St.
7
6 g- A. & O. N. Y., foot Whitehall St.
do
do
5 g- J. & J.
do
do
I s' F. & A. PhUa., 233 S. Fourth St.
do
do
J. & J.
7
5 & 6 M. & N. Philadelphia, Penn. RR.
do
do
M. & N.
6
A. & O. Phila., Guar. T. & D. Co.
4
do
do
J. & J.
7
|J. & J. N. Y. Lake Erie & West.
7
Q .-F . N. Y., D. L. & W. RR. Co.
2
do
do
A. & O.
7
M. & N. N. Y., Farm. L. & Tr. Co.
7
M. & S. N. Y., Gr’d Cent. Depot.
5
J. & D.
6
6
4
New York Agency.
5 g- M. & N.
When earned.
J. & J.
6
F. & A. N. Y., Farm. L. & Tr. Co
3
do
do
A.
&
O.
7
do
do
J. & J.
5
5
(?)
5 g. M. & S, N. Y., Central Trust Co
I s-
July 1, 1939
July, 1891
Jan. 1, 1899
Apr. 1, 1893
Jan. 1, 1913
Jan. 1, 1926
Jan. 1, 1946
Feb. 16,1876
Jan. 1, 1904
May 1, 1928
May 1, 1938
Apr. 1, 1891
July 1, 1896
July 1, 1900
May, 1891
Oct. 1, 1906
Nov. 15,1905
Meh. 1, 1909
1933
1983
Nov. Ì ,1937
Jan. 1, 1938
Feb. 1, 1891
AprU ,1893
July 1, 1925
$25,000m’thly
Sept. 1, 1939
The Texas & Pacific was built under act of Congress o f March 31
trol of the property. It is proposed t o is s u ^ ^ 0 ,0 0 0 4 per oents.Stock 1871, and other acts in 1872 to 1874, and the laws of Texas.
authorized, $750,000 ; outstanding, $446,000—par $100. In year ena
In 1888 the company was reorganized pursuant to the plan in V. 43,
ing September 30,1890, gross earnings were $117,134, net, $9,bdy, v. 164 and V. 45, p. 401, without having the Court confirm the sale in
deficit under charges, $44,360, against $46, / 62 in 1888-89.
foreclosure made in November, 1887.
At the reorganization a land trust was formed. See in this Supple
Tennessee M id lan d . - I n operation since JiUy
^ oT w lfich
phis, Tenn., to PerryvUle, on the Tennessee
135 ™ues (of wmcn ment under the title Texas Pacific Land Trust in “ Miscellaneous
2 are leased), and under construction PerryvUle1to Nashville, 92 miles. Companies.”
_
. . _ .
Projected to Virginia State line (515 milesin.all) onlaimanmum^grade
Trustee of first mortgage of 1888
Fidelity Insurance Trust & Safe
of one per cent. Local aid to the extent of $600,000 was securea Deposit Co., of Philadelphia; of second mortgage of 1888 Mercantile
Trust Co., of New York. Unless full interest is paid on income bonds after
_
between Memphis and. Nashville. 86© V. 51, p. 830.
From July 1 to April 30, in 1891 (10 months), gross earnmgs were March 1,1892, one-tliird the income bondholders may request the trus
$183,925, against $171,416 in 1890; net, $56,875, against $48,643.
tee to take possession of the road and run it, not by a receiver or under
In year ending Jane 30,1890, gross earnmgs were $204,883i, net, foreclosure proceedings, but simply in their interest, assuming all obli
$59,721. Stock authorized, $25,000 per mile ; outstanding, $3,144,000, gations. (See mortgage abstracts, Chronicle, Y. 47, p. 82.) There are
par, $100. Trustee of first mortgage, Central Trmst Company. New also a Texas school loan of $150,000, for which $167,000 consolidated
York. President, John Overton, Jr.—(V. 49, p. 227, V. 51, p. 830.9 0 8 .) 5s are reserved and $99,000 old bonds unredeemed.
Stock authorized, $50,000,000; outstanding, $38,710,900, of which
T erre H a u te Sc I n d ia n a p o lis .-O w n s from IndianapoUs to imnois State Une, 79 miles, with coal branches, 41 miles ; total, L20 miles Missouri Pacific on July 1,1890, owned $6,525,000.
Price
of stock since May 9,1888, (new stock)—In 1888,18 V®26% ;
Leases Terre Haute & Logansport RR., 183 miles ; St. ^ m s Vandalia &
Terre Haute, 158 miles; Indiana & Lake Michigan RR., South Bend, in 1889, 171s'®23; in 1890, 12@24Lj; in 1891, to July 17 inclusive,
Ind.. to St. Joseph Harbor, Mich., 40 miles; total, 501 miles. Leases the 12
1614.
From January 1 to June 30, 1891 (6 months), gross earnings were
St. Louis Vandalia & Terre Haute RR. (which see) on joint account
with the Pittsburg Cincinnati Chic. & St. L. RR., at 30 per cent of gross $3,101,486, against $3,199,548 in 1890.
A n n u a l r e p o r t f o r 1 8 9 0 w a s i n t h e C h r o n i c l e , \ . 5 2 , p . 4 6 1 , a n d gave
earnings, but guarantees the 1st and 2d mortgage.bonds. In 1890 a
general settlement was made with the St. Louis vandalia & Terre Haute e x t e n d e d r e m a r k s u p o n t h e o p e r a t i o n s o f t h e r o a d .
for amounts due that company, by the payment of $287,157 m cash and
INCOME ACCOUNT.
1890.
1889.
$657,665 in notes, payable $25,000 monthly, beginning with August 1,
1888.
1890. This company owns $500,000 common and $326,000 preferred
$
$
Receipts—
$
7,327,711
6,917,802
stock of the St. Louis Vandal. & T. Haute. The Indiana & Lake Michigan T o t a l g r o s s e a r n i n g s ............................... 6 ,3 7 4 , 3 8 6
is leased for 99 years and its bonds guaranteed, principal and interest.
1,467,006
1,671,744
In year ending October 31, 1890, gross earnmgs, $L213,619 ; net Net earnings......................................
151,156
178,909
earnings and other receipts, $419,477, against $330,643 in 1888-89, Other receipts................................... 130,036
interest and 6 per cent dividends, $261,289; loss on Terre Haute &
1,850,653
1,618,162
Total income...............................1,433,653
Logansport and Indiana & Lake Michigan was $18,011; surplus
Deduct—
S ilo ,175, against $42,460 in 1888-89. Dividends since 1876 have been.
94,978
109,665
Rentals
and
sundries........................................
In 1877, 6 per cent; from 1878 to 1884, inclusive, 8 ; from 1885 to
1,279,490
1,279,490
February, 1891, both inclusive, at the rate of 6 per cent per annum Interest on debt.................................................
—(V. 50, p. 275.)
Surplus for year..........................................
461,498
243,694
Terre H a u te Sc L o gan sp ort.—Owns from South Bend, Ind., to
174,164
390,383
Rockville, Ind., 160 miles; leased Rockville to Terre Haute, 22 miles : New equipment and real estate........................
Hal auce
.............................
287,334 def.146,689
total operated, 183 miles. Formerly Logansport Crawfordsville & South
(Y 50, p. 3 5 0 ; V. 51, P- 681; V. 52, p, 121, 4 6 1 .)
western, which was sold in foreclosure September 10,1879, and reor
fifauized under present name. Leased by Terre Haute & Indianapolis
T h i r d A v e n u e .—See “ Miscellaneous Securities.”
RR. for 99 years from December, 1879, at 25 per cent of gross earnmgs.
Tio«-a.—State line junction, N. Y., to Hoytville, Pa., 61 miles, and
and first mortgage bonds guaranteed by tbat company. Btock, $500, Blossburg. Pa., to Morris’ Run, Pa., 3 miles, of which is leased Elmira
000; par $50. Rental in 1888-89, $142,284; loss to lessee, $26,894 State Line Railroad, State line New York to Northern Central Railway
rental in 1889-90, $148,538 ; loss to lessee, $1,766.
Tunction, 7 miles; and Am ot & Pine Creek Railroad, Arnot Junction to
Terre H au te Sc P e o ria .—(See Map.)—Road operated from Terre Hovtville. Pa., 12 miles. Controlled by New York Lake Erie & Western.
Hate Ind., via Decatur, to Peoria, HI., 173 miles, of which 144 miles are In°vear ending June 30,1890, gross earnings were $297,791; net, $67,owned and 29 miles is by trackage over other roads. Formed mJanu- 923 ■ interest, $50,475; rentals, &c., $20,953; deficit, $3,505. The stock
arv 1887, as successor of the Illinois Midland. Stock is $2,160,000 pre is $391,200 common and $189,700 preferred; par, $50.
ferred 6 per cent non-cumulative and $3,240,000 common; par, $100.
T o l e d o A n n A r b o r Sc N o r t h M i c h i g a n .— (See M a p .)— Owns
The bonds were issued to nav off receiver’s certificates and to furnish
money for steel rails, eauipments, &c. In year ending March 31,1890 from Toledo, O., to Copemish, 276 miles, and branch to Macon Stone
Ouarrv
3 miles; total owned, 279 miles. Leases Frankfort & South
gross earnings were $323,776; net, $94,096; interest, $90,000; surplus,
$4 096. In calendar year 1890, gross $352,098 ; net, $92,392 ; surplus eastern Railroad, Copemish to Lake Michigan, 23 miles. Total operated,
302
miles.
It is proposed to build an extension 140 miles in length
over interest, $2,392. 0. W. Fairbanks, President, Indianapohs, Ind.
from Marion to Mackinaw. See V. 52, p. 641.
V. 52, p. 121.
Capital
stock
is $5,300,000; par, $100; car trust debt, $224,T ex a s C entral.—Line of road from Ross, in McLennan County, to a
The first mortgage of 1881 covers the Southern Division, formerly
Albany Texas. 177 miles ; Garrett to Roberts, 52 miles ; total, 229 miles. called the Toledo Ann Arbor & Grand Trunk Railroad, and the mortgage
Is controlled in Houston & Texas Central interests, but accounts are of 1884 covers road between Ann Arbor and St. Louis, Mich. Under
kent separate. The authorized stock is $1,000,000 ; total issued, $200,- the consolidated mortgage of 1890 (trustee, Farn ers’ Loan & Trust
265 of which Houston & Texas Central holds $50,000 ; Morgan Com Company), sufficient bonds are reserved to replace di visional securities
panv $75,000; directors, $5,300. Defaulted in interest in 1885, and de when due and the remainder are to be issued for improvements and new
créé ôf sale was entered April 12, 1887. The sale, which was delayed road, total issue to be at $21,000 per mile of present road and $18,000
by In appeal, took place April 22,1891. In 1890, gross, $304,527 ; de per mile of new lines, with $500,000 for terminals, &c., but limited to
ficit under operating expenses and taxes, $38,874, against net of $20- $10,000,000 in all. (See V. 50, p. 423.)
_
248 in 1889.-(V . 48, p. 160; V. 52, p. 165,204, 499, 609, 681.)
* EVom January 1 to May 31,1891 (5 months), gross earnings on 286
T ex a s Sc N ew Orleans (o f 1 8 7 4 ).—Houston, Tex., to Orange miles were $420,095, against $473,539 in 1890; net, $159,997, against
(Sabine River), 104 miles; and Sabine City to Rockland, 104 miles; <B163 244 in l8 9 0 ; surplus over fixed charges, $16,040, against $22,864.
31. Report tor 18$0 ™ to V .s K p. 641.
total 208 miles. Belongs to the Huntington Southern Pacific system ® S a l j S r “i<lA
1890.
1889.
1888.
together with the Louisiana Western. This was a reorganization, 1874,
286
250
234
of the old Texas & New Orleans Railroad. The stock, is $5,000,000, all Average mileage...........
$
but $2 500 of it being owned by the Southern Pacific. In addition to
$
$
1,014^307 1,127,208
687,579
above ’bonds there are $431,232 Texas School bonds. Subsidy lands Gross earnings— - - - ........
686.205
728,921
433,392
Jan 1 1891, were 730,220 acres; other lands 114,481 acres.
Oper’g expenses ftnd t&xes. o4 ì ,oUd
From January 1 to May 31, 1891 (5 months), gross earnings were
398,287
328,102
254,187
S611 710 against $741,707 in 1890 ; net, $223,129, against $305,550Net earnings ....................
340,200
294,800
236,800
Gross earnings in 1889 were $1,747,805; net, $707,222. In 1890 Interest on debt..................184, sou
gross, $1371,818 ; net, $879,747 ; surplus over charges, $562,865.
Miscellaneous....................................
............
__ 4,160
T e x a s Sc P a c i f i c .—(See Map.)—Owns : Eastern Division—From
Surplus for year............... 8,346
17,387
33,302
53,927
Texarkana to Fort Worth, via Whitesboro, 244 miles ; Texarkana Junc
Tames M Ashley, President, 150 Broadway, New York. (V. 50, p.
tion to Fort Worth, via Marshall, 248 miles ; Marshall to Shreveport,
40 miles ; total eastern division, 532 miles. Rip Grande Division—Fprt 423^558; V. 51, p. 143, 459, 715, 753; Y. 52, p. 165, 428, 6 4 1 , 796.)
Worth to Sierra Blanco, 524 miles ; Sierra Blanco to El Paso (joint
T o l e d o C o l u m b u s Sc C i n c i n n a t i .— Owns from Toledo toiKenton,
taack) 92 miles ; Gordon Branch to coal mines, 3 miles ; total Rio O., 72 miles, and in progress, via Marysville, to ^Columbus, O. This was
Grande Division, 619 miles. New Orleans Division—Formerly (New Or- thè Toledo Columbus & Southern, foreclosed October 16,1888. Stock,
l^«,ns Pacific Railroad)—Shreveport to New Orleans, and Baton Rouge $2,400,000 ; par, $100.
branen, 346 miles. Total of all, 1,497 miles.
J uly , 1891.]
RAILROAD
STOCKS
AND
BONDS.
133
INVESTORS’
134
[V ol. LU I.
SUPPLEMENT.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v in g im m e d i a t e n o tic e o f a n y e r r o r d is c o v e r e d i n th e s e T a b le s .
1
RAILROADS.
Miles Date
Par 1
of
’For explanation of column headings, &c., see notes of
Road. Bonds Value, j
on first page of tables.
93 1879 $1,000
Terre Haute A Logansp.—1st M., guar, by T.H.&Ind.
1,000
1883
1st M. on Logans, to South Bend (2d on 93 m.)gu.
1,000
1887
144
Terre Haute A Peoria—1st mortgage, gold............. c
1,000
Texas Central—1st mortgage, gold ......... - ............ c* 177 1879
1,000
52 1881
N. E. Div. mortgage, gold (2d on 177 miles)— c*
1,000
228 1884
General mortgage (pledged)................................c*
1,000
1875
104
Texas A New Orleans o f ’74—1st mort. land gr.c*&r
1,000
Sabine Division, 1st mortgage, gold...............c*&r 104 1882
100
1883
Debentures.................. ..............................................
100
Texas A Pacific—New stock, $50,000,000................ 1,497
1,000
1st M., gold (Eastern Div.), s. f. red. at 100---- c* 524 1875
1,000
1888
1,497
1st consol, mort. for $25,000,000, gold............ c*
1,000
2d consol. M., income,non-cum. ($25,000,000) ,g.c* 1,497 1888
46 1852 500 &c.
Tioga Bit.—1st M., due 1882 and extended, gold. . ..
1,000
46 1876
Third-rail m ortga ge...............................................
1,000
46 1875
Extension bonds...........................................
--7 1875 500 &c.
Elmira State Line Railroad 1st mortgage, guar..
100
Toledo Ann Arbor A North Michigan—Stock............
1,000
63 1881
ToL A. A. & Gr.Tr. (South Div.) 1st mortg., gold.
1,000
1884
106
Tol. A. A. & N. M. 1st M. g.,A.A.to St.Louis.Mich,
1,000
21 1886
Tol. A. A. & Mt. Pleasant 1st mortgage, gold..o’1
1,000
63 1886
Tol. A. A. & Cadillac 1st mortgage, gold..........cJ
1,000
40 1889
Tol. A. A. & L. Mich. 1st M., Cadillac to Copemish
1,000
Consol mortgage for $10,000,000, gold..............c’ 256 1890
1889
—
Toledo Col. A Cinn.—1st mort., gold(for$2,500,000;
Too
Toledo A Ohio Central—Stock....................................
100
Preferred stopk..................... . ................................. .
1,000
1885
197
1st mortgage, gold, interest guaranteed..............
1887-Ê
Car trusts, Series 2 and 3 ......................................
45 1885 10Ò &c.
Toledo A Ohio Central Extens—Mar. Mineral 1st M.
1,000
60 1888
Consol, mortgage, gold, for $1,500,000..............c’
1,000
Tol. Peoria A West.—1st M., new (for $5.000,000). c’ 230 1887
Various
1888
230
Scrip for coupons in 1888 (payable at w ill)........
From July 1, 1890 to May 31,1891 (11 months) , gross'
2?
72 miles were $297,309, against $269,752 on 51 miles in 1889-90; net,
$108,938, against $132,859. In year ending June 30,1890, gross eamings were $294,320 ; net, $137,997; rentals, etc., paid, $8,018. Steven
son Burke, President. (V. 49, p. 374.)
T o l e d o Sc O h io C e n tr a l.—(See Map)—Owns from Toledo, O., to
Coming, 184 miles, including 12 miles leased ; Thurston to Columbus,
29 miles, including 5 miles leased ; total owned, 197 miles. Leases also,
Corning to Jacksonville, 10 miles ; Glouster to Carrington, 11 miles;
total leased, 38 miles ; total operated, 235 miles.
This company was formed after sale m foreclosure of the Ohio Central
main line on April 15, 1885. In October, 1890, a large interest in'the
Kanawha & Michigan (which see) was acquired, and in February, 1891,
it was agreed to guarantee its bonds, principal and interest. Bee V. o i,
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 m
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 noncumulative, 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 ,1 per cent; Aug. 15,1.
Dividends on preferred in 1890, April 1 , 1*2 per cent ; June 30 ,1 per
cent ; October 1 ,1H per cent ; in 1891, January 15, H i ; April 15, H e
Price of common stock : In 1886, 26® 3812 ; in 1887, 20® 35 ; in 1888,
23® 35; in 1889, 30® 40; in 1890, 42^ 6813; in 1891, to July 17
inclusive, 45®61.
,
. SgSfc & J m û ,
Price of preferred stock : In 1886, 4614® 6312 ; in 1887, 40®581a; in
1888, 35®56 ; in 1889, 50®731s ; in 1890, 68^ ® 95 ; in 1891, to July
17 inclusive, 78®88.
__
The first mortgage is for $5,000,000, but no more than $3,000,000 can
be issued except' by consent of three-fourths of the present bondholders.
The bonds have their interest guaranteed by the Columbus & Hocking
Valley Railroad Company and the stock of Columbus & Hocking Valley
■Company was offered in exchange for Toledo & Ohio Central stock on
terms noted in V. 40, p. 597.
From July 1,1890, to May 31,1891 (11 months), gross earnings were
$1,381,835, against $1,252,815 in 1889-90; net, $465,797, against
$522,181.
jl .-„ Z 'î 3 *
Fiscal year ends June 30; report 1889-90 in Chronicle, V. 51, p. 415
INCOME ACCOUNT.
1889-90.
1888-89.
1887-88.
1886-87.
$
$
$
$
1,388,749
961,407 1,167,576 1,163,817
t576,399
360,827 *345,022
288,804
D ed u ct-
$500,000
1,000,000
1,800,000
2,145,000
1,254,000 .
2,286,000 1
1,620,000 j
2,075,000
584,000
38,710,900
3,784,000
21,049,000
23,227,000
239,500
125,000
265,000
160,000
6,200,000
1,260,000
2,120,000
400,000
1,260,000
600,000
666,000
800,000
4,849,000
3,705,000
3,000,000
409,444
650,000
850,000
4,800,000
135,000
Bonds—Princi
INTEREST OR DIVIDENDS.
INT
pal,When Due.
When Where Payable, and by Stocks— Last
Dividend.
Whom.
*
Payable
Jan.
1, 1910
J. & J. N. Y., Farm. L. & Tr. Co.
6
Jan. 1, 1913
J. & J.
do
do
6
Mch.
1, 1937
5 g- M. & S. N. Y., Union Trust Co.
1, 1909
7 g. M. & N. Last paid Nov., 1884. Nov.
May
1,
7 g- M. & N.j Last paid Nov., 1884. Nov. 1, 1911
1934
None paid.
6 g- M. & N.|
F. & A . 'N . Y . , S . P a c . , 2 3 B r ’ d S t . Aug. 1, 1905
Mch.
1,
1912
do
do
6 g- M. & S.
Dec., 1893
do
do
J. & J.
6
6
5
5
5
7
7
7
gggg-
6 g6 g6 g.
6 g.
6 g5 g5 g1
1^4
5 g7
6 g.
5 g.
4 g4
M. &
J. &
Mch.
M. &
M. &
A. &
A. &
S. N.Y.,Merc.Tr.Co.& Phil,
do
do
D.
None paid.
1.
N. Phil. (Newbold’s Son&Co
N. N. Y., N. Y. L. E. & W
O. Elmira, ChemungCo.Bk
do
do
O.
Mch.
June
Dec.
Nov.
Nov.
Oct.
Oct.
1,
1,
1,
1,
1,
1,
1,
1905
2000
2000
1915
1896
1905
1905
N. Y., Farm. L. & Tr. Co, Jan. 1, 1921
N. Y., Central Trust Co, May 1, 1924
N. Y., Office, 150 B’way Sept. 1, 1916
Mch. 30,1917
do
do
July 1, 1919
do
do
N. Y., Farm. L. & Tr. Co. Jan. 1, 1940
N. Y., Central Trust Co. July 1, 1939
N. Y., Central Trust Co. Aug. 15,1891
July 15,1891
do
do
Q .-J .
July 1, 1935
do
do
J. & J
By
installm’ts.
Quar.
M. & N. N. Y., Coffin & Stanton, May 1, 1915
Nov.
1, 1938
do
do
M. & N.
J. & J. N. Y., Moran Brothers.| July 1» 1917
April. N. Y., Farm. L. &Tr. Co. I Apr. 1, 1893
J.
M.
M.
M.
J.
J.
J.
&
&
&
&
&
&
&
The common stock is $9,231,000. The preferred 4 per cent stock o f
$5,305,000 is a coupon stock, non-cumulative, and without voting
The bonds are for $20,000 per mile, and have a first lien on all roiling
stock and the terminal property at Toledo and East St. Louis, xney
are redeemable at 105 and interest upon six months’ notice, but not less
than the whole issue can be called for payment. Abstract of m o w
gage (American Loan & Trust Company of New Yorx and Joseph n .
McDonald, trustees) in V. 45, p. 403. From July 1, 1890, t o June 30,
1891 (12 months), gross earmngs were $1,631,211, against $1,458,904
in 1889-90. In year ending June 30, 1890, gross earnings were
$1,460,050; net over expenses and taxes, $470,352. New York office,
44 Waff Street. (V. 50, p. 861, 835; V. 51, p. 241, 863.)
T o l e d o S a g i n a w Sc M u s k e g o n .— From Muskegon, m ch., to Ash
ley, Mich., 96 miles, connecting with the Toledo Ann Arbor & -North
Michigan. On August 1,1888, the Grand Trunk of Canada purchased
the $1,600,000 stock and above bonds were issued haying a traffic guar
antee from that road and the Chicago & Grand Trunk. In 1890 gross
earnings were $110,552; net, $19,127; interest, $78,000.
T o n a w a n d a V a l l e y Sc C u b a .— Owns from Attica, N. Y., to Cuba,
N. Y., 60 miles, of which only 30 miles, Attica to Sandusky, is operated.
Stock is $587,100. Receiver was appointed in 1884, and road sold m
foreclosure January 19,1891. Concerning suit against New York Lake
Erie & Western, see V. 51, p. 569, under heading Bradford. Eldred
Cuba. Gross earnings in 1889-90, $12,915; deficit, $6,096. (V. 48, p.
562; V. 52, p. 165.)
T r a v e r s e C i t y .— Owns Walton Junction, Mich., to Traverse City,
Mich., 26 miles. Leased to Grand Rapids & Indiana till January l ,
1933; rental, net earnings, which are guaranteed to be not less than
interest on first mortgage. There are also $190,000 of 5 per cent in
comes due January 1,1933. Stock, $205,000; par, $100. In 1890 gross
earnings were $45,449; net, $5,232; interest, $7,500; loss $2,268
;ainst surplus of $16 in 1889.
T u c s o n G lo b e & N o r t h e r n A r i z o n a . — Projected and under con
struction from Tucson, Ariz., on S outhern Pacific KR., to Globe, n u
miles, with branch to coal fields, 20 m. Mortgage is for $20,000 per m.
U l s t e r Sc D e l a w a r e .— Owns from Rondout (Hudson Riyer), N. Y.»
to Stamford, N. Y., 74 miles; branch to Hobart, 4 miles; total, 78 milesIn 1890 parties interested in the New York Central and Delaware <&
Hudson came into control. An extension from Hobart to Oneonta
is being built under the charter of the Delaware & Otsego RR. Stock au
thorized, $3,000,000; outstanding, $1,664,100; par, $100. Finances
readjusted in 1888 and consolidated mortgage issued to retire old 7 per
cents. The balance of consols unissued is reserved for future extensions.
From January_L to May 31, 1891 (5 months), gross earnings were
$122,158, against$118,385 in 1890; net, $39,119, a g a i n s t $38,344.
In year ending June 30,1890, the gross earmngs were $360,068; net,
$138,351; surplus over charges, $51,916. (V. 51, p. 172, 241.)
150,000
555
U n i t e d N e w J e r s e y R a i l r o a d & C a n a l C o . —-(See m a p P en n
9,842 sylva n ia B . B .) Controls an important system of roads m Northern
75,211 New Jersey, having a line from New York to Philadelphia, another
105,306 from Perth Amboy to Camden, opposite Philadelphia, and^branches to
23,067
92,625 Long Branch, Berkeley, etc., N. J., and to Manunka Chunk, Pa. Total
mileage 447 miles. The principal lines owned directly are from J ersey
433,539 Citv to Trenton, 56 miles, and from Camden to South Amboy, 61 miles;
294,502
360,827
190,270
122,014 9 branches, 29 miles; total (owned directly) 146 miles. Also owns the
50,520
98,534
& Raritan Canal, 66 miles. Among the lines leased are the
' * Including other income, $497.
t Including other income, $9,914. Delaware
Philadelphia & Trenton and the Belvidere Delaware—which see.
—(V. 49, p. 37 2 ; V. 51, p. 303, 4 1 5 , 457; V. 52, p. 165, 351, 498.)
Leased in May, 1871, to the Pennsylvania Railroad for 999 years, at
a rental of 10 per cent on the stock, besides interest on bonds. Penn
T o l e d o Sc O li io C e n t r a l E x t e n s i o n .— (See M a p .)— This com
pany secured control of Marietta Columbus .& Northern, Marietta to sylvania Railroad owns $1,350,000 stock.
£ vi
The general mortgage of April 20,1871, is for $20,000,000 (trustee,
Joy, Ohio, 41 miles; branch to Stewart, 4 miles. Extension in progress
from Joy to a connection with the Toledo & Ohio Central at Newton, 15 Fidelity Insurance Trust & Safe Dep. Co. of Philadelphia), and secures
miles. Total mileage, 60 miles. Consolidated mortgage issued for eauallv all the bonds in the table, though issued at different dates. The
above extension and for equipment and $650,000 held in escrow to 6 per cent bonds due in 1894 were plain bonds merely until secured by
pay off the Marietta Columbus & Northern 1st mortgage at maturity.
Of these bonds $300,000 (Nos. 1 to 300) have interest guaranteed by ^ I r / l 890 gross earnings were $18,938,897; net, including income from
the Toledo & Ohio Central (main line). Stock is $1,500,000; par, $100 investments, $5,134,976, against $5,040,798 in 1889. Net lossi: m 1881,
*302 864: in 1882, $568,759; in 1883, $635,914; in 1884, $593,536;
In 1890 gross earnings, $109,312; net, $58,036. In 1889 gross, $95
m 1885, $159,496; in 1886, $179,016; in 18§7> ^ 2 7 ,9 9 1 ; in 1888,
905; net, £47,697.
T o l e d o P e o r i a Sc W e s t e r n . — Owns from Indiana State line $160,501 Net profit in 1889, $138,712; in 1890, $396,885 Sinking
to Warsaw, 111., 220 miles; branch, La Harpe to Iowa, 111., 1 0 miles funds December 31,1890, held securities of par value of $4,002,000.
U n i o n P a c i fi c R a i l w a y . — (See M a p .)— Lines owned directly —
trackage to Peoria and to Burlington, la., 17 m iles; total operated
247 miles. This was formerly the Toledo Peoria & Warsaw, then the Main line (former U. Pac. RR.) Council Bluffs to Ogden and branches,
Toledo Peoria & Western, and was leased to Wabash; sold in foreclos 1 038 miles; former Kansas Pacific Railway, Kansas City to Denver,
ure October 29, 1886. Stock, $4,500,000; par of shares, $100 643 miles, and Leavenworth to Lawrence, 34 miles; former Denver
Abstract of mortgage (Charles Moran, Thomas Denny and Cornelius B Pacific Railway, Denver to Cheyenne, 106 m iles; total owned, 1,822
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 ^ h e “ Union Pacific System” on January 1,1891, was made up of
the following lines
at option of the company.
M iles.
M iles.
' From July 1,1890, to May 31,1891 (11 months), gross earnings were
$855,400, against $866,344 in 1889-90, net, $226,220, against $210,283. Union P acific..---.......... .....1 ,8 2 2 *Kansas City & Omaha....... . 193
In year ending June 30, 1890, gross earnings were $938,830; net, Denv. Leadville & Gunnison 324 *Un’n Pac. Denver & Gulf. . 945
$192,799; surplus over interest, $429. In 1888-89 deficit under Kansas Central............. ....... . 165 *Ft. Worth & Denver City.. . 469
Omaha & Republican Val— 432 *U. P. Lincoln & Colorado. . 225
interest, &c., $16,884.—(V. 49, p. 503$ V. 51, p. 303, 456.)
. 269
T o l e d o S t . L o u i s Sc K a n s a s C i t y .— From Toledo t® East *Oregon S. L. & Utah Nor..... 1,421 Six small roads....................
*Ore.
R. & N. Co.’ s, rail lines. 1,029
St. Louis, 451 miles. In June, 1890, the work of standard gauging
Total
“
Un.
Pac.
Sys.”
...7
,5
252
------ , ,,
. .9. 8
the road was completed. This company was formed June 12,1886, *St. Joseph & Grand Isl’d—
*These properties, having securities of their own held by the puDlic;
by consolidation, and it took all the main line of the Toledo Cincinnati
are separately described in this Supplement.
<fc St. Louis narrow-gauge road, foreclosed December 30,1885.
Other interest, &c...............
Balance of ren tals.............
Construction and equipm’t.
Applied to car trusts..........
Dividends............................
150,000
4,986
12,217
150,000
16,070
13,979
33,213
147,565
150,000
437
7,668
16,805
119,592
MAP OP THE
U N IO N
P A C IF IC
R A I L W A Y
J c l t , 1891.J____________EAILKOAD
STOCKS
AN D
BONDS.
AND ITS CONNECTIONS.
IOTESTOßS’
136
SUPPLEMENT.
[VOL« Lilla
--------------. . . _ _ _ _ _ _ _______*
Kv „iviHir im m ed ia te notice o f any error discovered in these T a b les.
s nKi»>pthArs w ill confer a great tavor bj « * » 1“ «
________________________ ____ _ _________ — — ---------v,—
S
-------------------------- ---------------------- “
INTEREST OR DIVIDENDS.
Bonds—1Princi
pal, When Due.
RAILROADS.
Size,
or
Date
Miles
Amount
Where
Payable,
and
by.
Sloe s—Last
When
Rate
per
Par
of
of
Dividend.
Outstanding
Whom.
Eor explanation of column headings, &c., see notes
Cent. Payable
Road. Bonds Value.
on first page of tables.
J. & d Jn . Y., Bk. of No. Amer. June 1, 1916
$1,000 $9,000,000
& J. IN. Y., Office, 271 B’way. July 1, 1918
Toledo St. L. <£Kansas C.—1st M., g. fred. at 105)c* 451 1886
E* J.
1.560.000
1,000
96 1888
M. & S. Last paid March, 1884. Sept. 1, 1932
Toledo Saginaw <£Muskegon—1st mortgage, g old ..
6
500.000
1,000
60 1881
J.
& j j N . Y., Winslow, L.& Co. Jan. 1, 1933
Tonawanda Valley & Cuba—1st mortgage................
3
250.000
1,000
26 1883
Traverse City RR.—1st mortgage... - - - - - - 165.000
7 g. J. & J.jBos.,Am.L.&Tr.Co; Lon July 1, 1917
10 1887 500 &C.
J.
& D. N. Y., Central Trust Co. June l , 1928
1,342,600
Tucson Globe & N. A r —1st Ml, g -s -*• ooo 000 ^ c*
1,000
5 g78 1888
Q.—J. Phila. and N.Y., Oflices. July 10, 1891
'Ulster & Delaware—Consol. M. for $2,000,000, g..c
2^2
100 21,240,400
L
1, 1894
1United N. J. RR. & Canal Co.—Stock, 1 0 p. c. guar..
1.846.000
£200
6 g. M, & S. iLond’n,J.S.Morgan&Co 1Mch.
1869
Mch. 1, 1894
G e n e r a l i ster. loan, s. f. $36,920 yr. not dr.,g.c
do
do
1.800.000
200
6 g. M. & 8.1
1871
Oct.
1, 1894
-Mortgage
- ■
do do do $36,000 yr. not dr.,g.c
A. & O. IPhiladelphia, Penn. RR.
6
2,000,000
1,000
1871
Mch. 1, 1901
S.
do
do
Of 1871 cur. loan, s. f. $40,000 yr. not dr’n.r
5.669.000
6 g. M. &
1,000
73-’76
Sept.
1, 1908
S.
do
do
(now 1st ^loans of 1901, gold..........
841.000
6 g. M. &
1,000
1878
Feb. 1, 1923
do
do
mort.) se loan of 1908, gold............
1.824.000
4 g. F. & A.
1,000
1883
Sept.
1,
1929
do
do
6.020.000
cures all loan of 1923, gold........ ..
4 g. M. & S.
1,000
1889
q
J. IN. Y., Un. Trust & Bost. Apr. 1, 1884
H ___ | |
1%
equally..
J loan of 1929, gold........................ °* r
100 60,868,500
1896
to
1899
do
do
6 g. J. & J.
1,000 27,229,000
1st mortgage, Omaha to near Ogden, 1,035 miles 1.035 1866-9
J. & J. U.S. Treas., atmatunty. 1896 to 1899
6
1,000 27,236,512
1866-9
1.035
Sept.
1,
1893
2d mortgage, currency (Government subsidy). —
M. & S. N. Y., Un. Trust & Bost.
8
6.300.000
1,000
3d M?cm roaa (2d on land) g.,$&£,s.f not dr’n c&r 1.035 1874
8 g. IA. & O. London & N .Y .,U n.T r. Apr. 1, 1896
887.000
£200
1871
4
1, 1915
Omaha bridge bonds (s. f. drawn at 110).......c &r
589.000
5 g. A. & O. N. Y., Union Trust Co. Oct.
1,000
4 1885
July 1, 1908
Renewal (sinking fund, not drawn). . . . . . - . .. . •«'
do
do
6 g. IJ. & J.
3.983.000
1,000
1879
Dec. 1, 1907
&
D.
Boston,
N.
Eng.
Tr.
Co.
Collateral trust bonds, gold, s. f - ^ a^ nf a^ i )|r?n
5.072.000
5
g.
1;000
1883
Collateral trust bonds of 1883, gold, s. f. not dr n
& N. N. Y., Un. Trust & Bost. Nov. 1, 1918
A^g.
2.065.000
1,000
325 1889
i o yearly Oct.
Denver L’dv. & Gun. collat. trust ($3.2501)00). .c
& O.
do
do
5
502.000
1,000
1887
i 10 yearly Apr.
Equip, bonds Series A, >10 due yearly in Oct— _c
&
O.
do
do
5
1.474.000
1,000
1888
i10 yearly Oct.
Do
Series B , 1]o due yearly in April...
& O.
do
do
5
389.000
1,000
1890
Aug. 1, 1895
Do
Series C, 1 o dueyearly in October
& A.
~
2.240.000
6 g.
1,000
June 1, 1896
KansasPae. Eastern Div. IstM., $16,000 per mile 140 1865
&
D.
N.
Y.,
Union
Trust
Co.
4.063.000
1,000
6 g.
1866
1895 to 1897
Middle Div. 1st mortgage, $16,000 per imle, g. 253 1865-7
6
6.303.000
394
May 1, 1899
M.
&
N.
N.Y.,Lond’n
&
Frankf’t,
2d TnoTt.gage (to XJ. B. Gov.) on 394 m.
.
5,887,000
6 g.
1,000
1869
236
Denver Ex. 1st M., 1. gr. 2,102,000 acres..c <fcr
M. & S. N. Y., Bk. of Commerce, July 1, 1916
7
41,500
50 &c.
427 1866
6 g. M. & N. N. Y., Un. Trust & Bost, May 1, 1919
1,000 : 12,570,000
1879
675
Cons. M. for $30,000,000,1. gr^gold, notdr n. .c
(1)
I 1891
Un. Pac. Kansas Div. and Col. Trust bonds..
tracts was estimated at $1,310,000. On January 1 , 1891, the Umon
Pacific lands unsold were 3,047,000 acres, estimated at $2,369,00p,the
Kansas Pacific lands unsold, 3,161,000 acres, estimated at $10,084.000,
this last including 2,102,000 acres, valued at $5,340,000, covered by the
,
,
L
Also owns jointly wnth other companies the ^avenw orth Topeka^& Denver Extension mortgage.
The Kansas Pacific lands, from the 380th mile westward, are covered
SÄ w eÄ n,
onrtali:
all lines,
first bv the Denver Extension mortgage (covering 394th to 639th mile),
and aU the lands of the Kansas Pacific by the consolidated mortgage.
ines operated joint!”
lines
°PeTra^ i oi?*1L
Organization
, &c T M s: company, the Union Pacific Railway, was
Operations, F inances, &c.—The company has extended rapidly and
built and acquired much new mileage.
....
On December 31 1890, the gross floating debt (including bills payab l? cm ipoS due^January l " e C ) was $21,t l 8 , 094 (against $20,161,613
on December 31,1889) from which deduct cash $433,801; company s
I ff Ä
stock and bonds, $355,447; bills and accounts receivable mcluding ad
vances to branch lines on current account, $13,753,903 , balance net
floating debt $6.874,941, against $4,489,563 December 31,1889.
“fjnion’Paciflo systenr’ (7,668 miles) from Jan. 1 to May 31,1891,
gon S h o r t L i n e * g u a r a n t e e d b y U n i o n P a c i f i c , w a s n e g o t i a t e d ( s e e V . 4 8 , (5On
months), gross earnings were $15,468,020, against $16,107,888 in
1890 (on 7 555 miles); net, $4,639,307, against $4,381,871.
P'I i f N ov em b er, 1 89 0, th ere w a s a ch a n g e i n *be m a n a g em en t
On entire mileage (8,144 miles) from January 1 to May 31 (5 m onthsl
g
« a ® e oS gross earnings were $15,912,623 in 1891, against $16,805,858 on 8,036
miles in l8 9 0 ; net, $4,655,099, against $4,519,331.
The report for 1890 was in the Chronicle, V. 52, p. 678; see also art ii a t t h e n a v m e n t o f i n t e r e s t o n t h e l o a n s w a s n o t o b l i g a t o r y o n t h e
^ m t i f f i e Ps t m t h e p r i n c i p a l o f t h e b o n d s b e c a m e d u e . A f t e r w a r d s
r o ^ l f ^ s p a s s e d t h e T h u r m a n A c t , M a y 7 ,1 8 7 8 , w h ic h , f o r t h e U n io n
p „
n r o v id e d th a t 2 5 p e r c e n t o f th e n e t e a r n in g s , a ft e r d e d u c t in g
in te r e s t o n t h e fir s t m o r t g a g e b o n d s a n d c o n s t r u c tio n a n d e q u ip m e n t
t e r e s s h o u ld h e p a id a n n u a lly t o t h e G o v e r n m e n t a s f o l lo w s .
F ir s t — A p p lie d d ir e c t ly t o in te r e s t a c c o u n t, o n e -h a lf o f G o v e r n m e n t
e a r r h n i^ f a n d 5 p e r c e n t o f n e t e a r n in g s , a ft e r d e d u c tin g m e r e s t o n
t o s f f i r t g a g e b o n d s. S e c o n d -T o b e p la c e d in th e s m tm g t o d - t h e
o t h e r h a l f <n t h e G o v e r n m e n t e a r n i n g s a n d s o m u c h o f $ 8 5 0 , 0 0 0 a s
m a f h e n e c e s s a r y t o m a k e a ll t h e p a y m e n t s b y t h e c o m p a n y e q u a l 2 5
o f it s n e t e a r n in g s . O n J a n u a r y 1 ,1 8 9 1 , t h e s in k in g fu n d , m te R R a n d U S b o n d s , (p a r v a lu e ) w a s $ 9 ,3 6 8 ,4 0 0 , a n d t h e p r e
m iu m m i d o n b o n d s a n d c a s h u n in v e s t e d w a s $ 1 7 3 7 ,0 9 2 ¡ t o t a l $ 1 1 ,:
T l i e d e b t t o t li© U n i t e d S t a t e s a t t b a t d a t e w a s t b u s s t a t e d ,
i f t o c i p a l $ 2 7 ,2 3 6 ,5 1 2 ; in te r e s t a c c r u e d a n d n o t p a id , $ 8 1 7 ,0 9 5 ; in te r S t p a F d b y U n it e d S ta te s , $ 3 6 ,3 9 7 ,1 8 5 ; r e p a id b y U m o n P a c ific , $ 1 2 ,9 9 9 P5 1 0 ; b a l a n c e o f i n t e r e s t p a i d b y U m t e d S t a t e s , $ 2 3 , 3 9 7 , 6 7 5 .
tiThe°foilowing shows the earnings of each division and of the ‘ ‘ Union
Pacific System ” and also the grand total for all lines operated.
Earnings,1889.— . ,— Earnings,1 890.Net.
Gross.
Net.
Gross.
$
$
$
2,522,301
Oregon S. L. & U. N ........ 6,512,345 2,811,481 7,488,031
1,018,686
4,954,711
1,692,339
Oregon Ry. &Nav. Co----- 4,576,136
Union Pac. Denver & Gulf 4,595,095 1,162,148 5,783,136 1,776,053
355,454
460,203 1,253,592
St. Joseph & Grand Isl’d. 1,267,658
AÙ other lines..................22,718,367 9,026,678 23,569,778 8,032,793
s t o c k AN D B O N D S .— T h e c a p i t a l s t o c k i s s u e d a n d o u t s t a n d i n g i s $ 6 0 , 8 6 8 ,5 0 0 , h a v i n g b e e n in c r e a s e d a b o u t $ 1 0 ,0 0 0 ,0 0 0 s in c e t h e c o n s o lid a -
^ D iv id e n d s s in ce 1 8 7 9 - I n 1 8 8 0 , 6 p e r c e n t ;
in 1 8 8 1 , 6 % ;
in 1 8 8 2 , 7 \
V r i f e 3 o f 5s t o c k 8 8 i Ä
^ 0 , O8 0 ® 1 1 3 % ; i n 1 8 8 1 , 1 0 5 * 2 ® 1 3 1 % ; i n 1 8 8 2
q ö l . « i 1 1 Q 3± - i n 1 8 8 3 7 0 1s '3 )1 0 4 34 ; i n 1 8 8 4 , 2 8 ' @ 8 4 5s ; i n 1 8 8 5 , 4 1 ® 6 2 %
68*4; In 1 8 8 7 , 4 4 ® 6 3 % ; i n 1 8 8 8 , 4 8 ® 66 ^ ; i n 1 8 8 9 , 5 6 ^
in 1800 4 0 ® 6 8 7s ; i n 1 8 9 1 , t o J u l y 1 7 i n c l u s i v e , 4 1 5 8 ® 5 2 * 2 .
® T h e r e S e I l8 | o 0 0 L e a v e n w o r th b r a n c h 7 p e r c e n t b o n d s d u e J a n u a r y
18Ä
U Ä ’S c S Ä a ^ f t t e s - a re lim it e d t o 8 0 p e r c e n t o f th e
fft iin w in ff b o n d s * O m a b a & R e p u b l i c a n V a l l o y R R .,
; Grand total of all.......40,941,063 15,320,498 44,538,202 13,902,275
►Average mileage 7,562 in 1890, against 7,389 in 1899. + Average
mileage 8,038 in 1890, against 7,867 m 1889.
.
„ .
On xhe “ Union Pacific System” proper, operations were as follow s.
OPERATIONS AND FISCAL RESULTS
1889.
1890.
Average miles operated..........................
7,389
7,562
r iS S S S r S U i« » » « ;.............. "I S H I !6
2,115,988,741
1-381 ots.
$
43,049,248
30,811,164
Gross earnings (as above).......................
IE A il’t ^ i
f entral l Ä n d ^ $1,895,000; Utah Northern RR., $2 149,000 ; total, Operating expenses and ta x e s .............
zb,uid,oox
$4 979 000. The collateral trust 5s of 1883 are secured by the following
12,238,084
^ n d s - Colorado Central RR., $1,268,000; Utah & Northern RR., $2,- Net earnings..................... - -......... 13’ 65«s£5fi
71-57
bo os
027 000- Omaha & Republican Valley Railroad, $622,(WO; Omaha & Per cent of oper. expenses to earnings..
RepubUcan Valley Railway, $1,961,000; Utah Southern RR. extension,
The company’ s income account, including results on all lines oper
$ T h e % io n tP a S f guarantees either as to principal and interest, or as ated, was as below :
INCOME ACCOUNT.
to interest only, certain securities of the following companies, full in
1890.
1889.
formation concerning which will be found under their respective heads
$
Oregon °ShortCijn e & Utah Northern; Oregon Raüway & Navigation
Receipts
o «Kg o4 g
12,238,084
rttoough guaranty of lease); St Joseph & Grand Island; Umon Pacific
115,989
CentodBranch Un! Pac’. net earnings:*
’i f f §£
Denver & Gulf, and Union Pacific Lincoln & Colorado.
_
606,539
Investments outside of system........ - - - 482,180
T h e o u t s t a n d in g b o n d s o f K a n s a s P a c ific a b o v e a r e g iv e n le s s t h e
381,300
Interest on K. P. consol, bonds repaid..
- . . . . . - - -o m rn m tm o f e i c h cla s s h e ld b y th e tru s te e s o f th e c o n s o lid a te d m o r tg a g e ,
93,946
T ^ e c o n s o l i d a t e d m o r t g a g e r t u s t e e s a r e J a y G o u l d a n d R u s s e n § a g e ; Miscellaneous............................................
14;0’ 80°
a n d t h e y h e ld in tr u s t o n J a n u a r y 1 , 1 8 9 1 , th e fo llo w in g b o n d s o f th e
13,435,856
Total
receipts.....................................
14,447,638
K a n s a s P a c ific , m a k in g $ 6 ,7 8 6 ,8 5 0 in a ll, v iz .: L e a v e n w o r t h B r a n c h ,
$ 5 8 2 0 0 0 ; in c o m e (u n s u b o r d in a t e d ) b o n d s , $ 2 4 1 , 2 0 0 ; m c o m e (s u b o r d iDisbursem entsqoo 0 4 9
9,604,496
^ Q + e < iV n n n d 8 * 3 9 9 2 6 5 0 ; C h e y e n n e B r a n c h , D e n v e r P a c i f i c b o n d s , $ l , Interest on bonds.....................................
^ qav
’ qSo.
1,064,489
907,982
9 7 1 ^ 0. T h e y a ls o h e l d $ 1 ,9 8 0 ,5 0 0 o f t h e s t o c k s a n d $ 3 ,1 6 0 ,0 0 0
Sinking fun ds.....................- ...........
651,820
1,095,114
Dividends on Oregon Ry. & Nav. stock..
b o n d s o f c o m p a n ie s c o n tr o U e d b y t h e U n io n P a c ific .
,
731,184
292,950
b Tn A n r U 1 8 9 1 , i t w a s v o t e d t o a u t h o r i z e t h e d i r e c t o r s t o is s u e a c o l Discount and interest..............................
65,714
169,321
in te r W tr u s t m o r tg a g e t o p a y th e flo a tin g d e b t o r fo r a n y o th e r p u rp o s e .
Discount on bonds sold, &o.....................
15,007
96,042
T M s t r u s t m o“ t g a | e r i t i s S a i d , w i l l b e f o r $ 2 0 , 0 0 0 , 0 0 0 , b u t n o t m o r e
Loss on roads operated jointly...............
377,417
82,506
t h a n *5 000 0 0 0 w i l l b e i s s u e d a t p r e s e n t . T h e n a m e o f t h e b o n d w i l l
Miscellaneous............................................
147,045
339,003
t h a K a n s a s d iv is io n a n d c o lla t e r a l m o r tg a g e . F iv e m illio n o f th e
Profit and loss............................................
bonds
^ r e p o r t e d w ill b e a s e c o n d m o r tg a g e o n th e K a n s a s P a c ific
~12,657,172
R o n d a n d t h e u r o p e r t y o f t h e D e n v e r P a c ific R a ilw a y & T e le g r a p h
Total disbursements..........................
1|’? qa' w T
778,686
C om pany
T h e b a la n c e it is s a id w il l b e a c o lla t e r a l m o r t g a g e s e c u r e d
Surplus ..................; ...........- ......................
11 ^ 007
1,053,723
united States requirements....................
l,lo D ,w /
b L A ^ G r a n t 1— T h e p r o c e e d s ^ o f l a i S s a l e s o n t h e U n i o n P a c i f i c m a i n
l a n d U R A N i.
An p
s in M n g fu n d m o r t g a g e 8 p e r c e n t b o n d s . O n
th e K a n sa
d a tS “
co m n m iv
j S t t h e
PP a c ific t h e c a s M n c o m e fr o m la n d b e lo n g s t o t o t h e c o n s o lith e D e n v e r E x te n s io n m o rtg a g e .
O n J a n u a ry 1 ,1 8 9 1 , th e
h a d in c a s h a n d in la n d c o n t r a c t s fr o m th e U m o n P a c ific
s u m o f $ 6 ,1 6 2 ,0 9 5 , a n d th e in te r e s t t o a c c r u e o n la n d c o n -
Def. 275,037
Balance............. .......................... - ......... Sur.975,764
—(V 50 P. 107,140, 173,174, 276, 392, 423, 606, 6 2 0 , 622, 6 2 3 , 801;
V
5 1 P 1 4 2 , 143, 348, 459, 538,681,748. 7 86,830; V. 52 p. 41, 82,
121, 126, 428, 535, 65©, 6 7 8 , 681, 899, 939, 940.)
WEN D O V E R 'S .^ *
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Scott
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vH ot Springs
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& 0.■'F/o
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Rosw ell
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138
INVESTORS’
[V ol. LI1I.
SUPPLEMENT.
im m ediate notice o f any error discovered in these T a b les.______
[Bonds—PrinciINTEREST OR DIVIDENDS.
pal.When Due.
RAILROADS.
Miles Date Size, or
Amount
r
Stocks—Last
Par
of
'•For explanation of column headings, &c., see notes of
Outstanding Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
S u b s c r ib e r s w i l l c o n fe r a g r e a t f a v o r b y g i v in
Union Pacific Denver <6Gulf—Stock for $36,000,000
Colorado Central 1st mort., $15,000 per m........ c
D enver Marshall & Boulder 1st mortgage........... •
Uenv. Tex. & Ft. Worth 1st M. ($20,000 p.m.)g.c*
Denver Texas & Gulf 1st M. ($20,000 p. m.) c&i
Consol, mortgage, gold, subject to call at 1 05..c
Ft. Worth &Denv. City lst-M., g., $18,000 p. m.o
>U. Pac. Lin. mCol.—IstM ., g., gu. ($20,000 p.m.J.c
Utica > hen. &Susa. V al—Stock,6 p.c.gu. by D.L.&W
•Utica CUnton <6BingK’tortr--IstM., guar. D. &H---<
328
30
165
138
824
450
225
97
31
12
12
1st mortgage (for $500,000).. —
.........- •
59
Valley (Ohio)—1st mortgage, Cleve. to Canton...c
91
Consol, mort. g.(for $4,000,000) s.f.,notdr’n.c*&i
62
■Valley ( Virginia)—1st mortgage. . . . . . . . . - - - - - -<
59
' Vermont <6Mass.—Stock, 6 p. c. guar, by Fitchburg
' Bonds, not mortgage (guar, by Fitchburg RR.) .c
50
•Vermont Valley o f 1871—Stock.
........ - —
24
189
189
189
3d M. ant 1st §L on land, g., / or $^,500^00.. c
Inc. bds.. non-cum. (there are also $127,000 old 6s ) __
Wa. Miitt’d--St’ck($4,524,233 owned by R.&W.P.T.
97
Mort., lstser., IstM. Alex, to Gordonsv.&br.,97m
2d series, 1st mort., Chariot, to Lynch., 60 m.) . 157
.
157
3d series, 2d lien on 60 miles; 3d on 97 m iles..
4th series, 4 per cent till March 1,1901........... . 157
5th series, 1st on 115 miles................................ . 272
$100 $31,151,700
1,000
4,701,000
1879
1,000
226,000
1886
1,000
1,449,000
1887
l,000&c
1,256,000
1887
1,000 15,073,000
1890
1,000
7,958,000
1881
1,000
4,479,000
1888
100
4,000,000
1,000
800,000
1889
100
750,000
400,000
1881
1,600,000
1879 10Ó &c.
1,000
1,499,000
1881
1,000
750,000
1881
100
3,193,000
1,000
1,000,000
1883
50
1,000,000
1,000
800,000
1880
1,000
1,323,000
1885
1,000
4,000,000
1881
1,000
2,147,303
1886
494,860
1887
ido 6,000,000
600,000
1881 100 &c.
1,900,000
1881 100 &c.
1,100,000
1881 100 &c.
950,000
1881 100 &c
1,775,000
1881 100 &c
5 g5 g.
5 g.
6 g.
5 g.
3
5
2ia
5
I s-
3
5
3
5
6 g.
6 g
4-5 g
4
6
6
4-5
5
& J. N. Y.. Un. Trust & Bost.
do
do
& D.
do
do
& N.
do
do
& O.
do
do
& D.
do
do
& D.
do
do
& O.
& N. N. Y.. Del. L. & W. RR.
& J. N.Y., Security &Tr.Co.
& J. N. Y.. Del. Lack. & West.
do
do
& A.
& D. N. Y.. Mercantile Tr. Co.
do
do
& S.
& O, N. Y., Merc. Tr. & Balt.
& O Bost., 53 Devonshire St.
& N, Boston, Fitchburg RR.
Bellows Falls.
& J
& O Boston, S. Dep. & Tr.Co.
& N,. ¡N. Y., Central Trust Co.
& J . N. Y., Farm. L. & Tr. Co
& JVN. Y., Central Trust Co
M.
M.
M.
M.
M.
&
&
&
&
&
S. N.Y., Fourth Nat. Bank,
do
do
S.
do
de
S.
do
do
S.
do
do
S.
July 1, 1909
June 1, 1916
Nov. 1, 1937
Apr. 1, 1937
Dec. 1, 1939
Dec. 1, 1921
Apr. 1, 1918
Nov. 1, 1890
July 1, 1939
Julv, 1891
Aug. 1, 1911
June 15,1906
Sept. 1, 1921
Oct. 1, 1921
Apr. 8, 1891
May 1, 1903
July 1, 1891
Oct. 1, 1910
Nov. 1, 1915
Jan. 1, 1920
Jan. 1, 1916
Jan. 1, 1920
Mch.
Mch.
Mch.
Mch.
Mch.
1,
1,
1,
1,
1,
1906
1911
1916
1921
1926
miles, and 16 miles of small branches. Oi tne eonsoudaieu
U n io n Pacific D enver & G u lf.—(See M a p . ) company
is held in trust to retire the first mortgage when due. in is
roadextendsfrom Wendover, Wv., to Cheyenne, Wy., 125 miles; Denver $1,600,000
mortgage is a first lien on the Cleveland terminal property. A sinking
t o Pueblo, Col., 124 miles; Trididad, Col., to Texas State Line, Tex., 127 fund
sufficient
to retire whole issue at maturity begins SeptemPer i,
miles; La Salle, Col., to Julesburg, 151 miles; branches (77 miles of 1891; no drawings.
Capital, $1,261,973 ; par, $50. Control acquired
which narrow gauge), 309 miles; total, 836 miles; trackage, Denver & in 1889 by the Baltimore
& Ohio Railroad Company. Earnings in lsa u ,
Rio Grande, Pueblo to Trinidad, 92 miles, and branches, 16 miles ; con$779,267;
net,
$262,436,
against $192,329 in 1889. V. 50, p.70.)
\trnls Fort Worth & Denver City RR., Texlme, Texas, to Fort Worth, 455
V alley ( V i r g i n i a ) .—Owns from Harrisonburg to Lexington, VaA 62
miles and Pan-handle Railroad, 15 miles, making a grand total m sys
miles.
By
this
and
connecting
lines under Baltimore & Ohio control,
te m o’f l 414 miles. This is a consolidation of the Denver Texas & Fort
the distance from Lexington is 243 miles to Baltimore and 217 miles to
\Vnrth and several Union Pacific lines. See V. 49, p. 720.
Wasnington.
The
Baltimore
&
Ohio owns $1,020,000 stock and the
C ^ t a l stock authorized is $36,000,000, of which $31,313,847 had
'beenTs^ed on January 1,1891 r$13,250,847 of this being owned by the City of Baltimore $1,000,000 stock. Stock outstanding, $2,731,839
Union Pacific Company and $3,406,800 by the company itself. In ad- (par, $100). In years 1889-90 gross earnings were $126,299; net, $Z7,«dition the stock of constituent companies outstanding on January 1, 100; deficit under interest, $18,100, against $10,187 in 1888-89.
1891 amounted to $2,523,245. In the table above is given the amount
V erm o n t & M assach u setts.—Line of road, Fitchburg to Green
^ f stock reported outstanding, by the N. Y. Stock Exchange on May field, Mass., 56 miles; branch, 3 miles. The road is leased to the Fitcfi'22 1891. The company holds in its treasury $7,7.66,000 of the capital burg RR. for 999 years at 6 per cent on stock. The lessee to September
i-stoek of $9 275.000 of the Fort Worth & Denver City Railway Co.
30,1889, had invested $1,491,435 in improvements for this road.
The consolidated mortgage of 1890 provides for bonds at $25,000 per
V erm o n t V alley o f 1 8 7 1 .—Owns from Bellows Falls to Brattle;mile of single and $35,000 per mile of double-track of completed rail boro,
Vt., 24 miles; and by ownership of stock the Sullivan County KK.
w ay (and for further amounts on the pledging with the trustee of cer
Bellows Falls to Windsor, Vt., 26 miles; total, 5 0 miles. Controlled
ta in securities), sufficient bonds being reserved to retire the divisional from
in
the
of the Connecticut River RR. The N. Y. N. H. & Hart
bonds at or before maturity. There is no sinking fund for the consols, owns interest
$249,700 stock. The Sullivan County RR. stock of $500,000 is
but the whole issue as an entirety is subject to call for payment at 105 deposited
as
additional
security for the above mortgage bonds. -Divi
<<m any interest day after six weeks’ notice. These bonds are indorsed dends sines 1880 have b een
: In 1881, 4 ^ per cent; ™ ^ 82, 4 ¡ from
with the Union Pacific’s guaranty of interest. See abstract of mort- 1883 to July, 1891, both inclusive,
at the rate of 6 per cent yearly.
in "V 51 p, 24.1»
.
In
1890
gross
earnings,
$192,629;
net, $75,133, agst $80,191 in 1889.
Tli© amount of consolidated mortgage 5s stated in tlie table to be out
V ick sb u rg Shreveport & P a c if ic .—(".See Map Cincinnati New
stan din g is that reported by the N. Y. Stock Exchange to have been
issued prior to July 17,1891. The Union Pacific report for 1890 gave the Orleans & Texas Pacific.)—From Delta, La., on Mississippi Diver, to
lo t a l outstanding January 1,1891, as $13,845,000, of which the, Union Shreveport, 170 miles, and extension to Texas State Line, 1» mnes
.Pacific Company held $7,180,000, and the company itself $1,035,000. (the latter leased to Texas & Pacific); total, 188 miles. The old Vicks
burg Shreveport & Pacific Road was sold in foreclosure December 1,
I n addition to these consols there were outstanding at the same date
*8 188 000 of old divisional bonds (exchangeable at certain rate for 1879, and reorganized under present title. The stock is $L 601,500(paj
- consols), of which $4,697,000 Colorado Central 7s, and $248,000 of $100), of which the Alabama New Orleans & Texas Pacific Junction
- other issues were owned by the Union Pacific Company, and mostly Railroad Company holds a majority, and al|0 ^3>692,000 of the 1st
l pledged under its trust deeds.
, , ..
AOO AAA mortgage and $965,500 3d mortgage bonds. Till 1891 the 3d mortgage
The company’ s annual interest charge on account of its $22,033,000 bonds carried 3 per cent, then 4 per cent till 1894, and thereafter 5 per
■bonds outstanding January 1,1891, and on account of the Fort Worth cent. Net proceeds of land sales go to payment of intereston tnere
& Denver City 6s, amounted to about $1,674.000, but of this $51,750 was bonds if necessary, otherwise to sinking fund; no bonds drawn (see V.
( on bonds held by the company itself, about $701,000 was on bonds held 43, p. 104). Lands unsold June 30,1895, were 268,869 acres. Trustees
bv the Union Pacific and $181,300 was for interest on bonds whose of prior lien mortgage and of 3d mortgage, Cent. Trust Co. of Istm orL,
first coupon matures November 1,1891, these last being certain Denver Farmers’ Loan & Trust Co. Car trusts Aug. 30, 1890, $125,997 , cou
pons due and unpaid, 1st mortgage, $553,800; 3d mortgage, $114,213.
- Texas & Fort Worth 5s and the consols exchanged for the same.
From Jan. 1 to May 31,1891 (5 mos.), gross earnings were $2,011,965, P°From July 1,1890, to May 3 f, 1891 (11 months), gross earnings were
$596,800, against $601,190 in 1889-90; net, $158,000, against $132,000.
-against $2,115,103 in 1890; net, $373,567, against $602,322.
” The annual report for 1888-89 was in V. 49, p. 299. In
^ R e p o rt for 1890 was in V. 52, p. 679, as follow s:
June 30, 1889, gross receipts were $592,603;
$131,135, deficit
EARNINGS, EXPENSES AND CHARGES.
under interest, $267,003; in 1889-90 gross, $639,753; net, $122,994,
1890.
1889.
deficit under interest, $270,974. (V. 49, p. 2 9 9 ; V. 51, p. 303.) _
1,396
Average miles operated.............................
V irg in ia M id la n d .—(See'Map o f Richmond <t West Point Terminal.)
$5,783,136
Gross earnings............................................ $4^95,096
$1,606,077 —Lii^ of R o^ o.—From Alexandria to Gordonsville, 88 miles; WarrenNet earnings....................................
$y»o,oou
ton Branch, 9 m iles; Charlottesville to Lynchburg, 60 miles ; Lyncn$1,247,568 burg to Danville, 66 miles; Pittsville Branch, 9 m iles; Manassas Junc$1,112,673
-Interest on bonds..............
148,353 tioifto Harrisonburg, 114 miles (of which 51 miles leased to Baltimore
Rental of tr a c k ............ . .
•••••••■
104,641 & Ohio); small branches, 9 miles; total owned, 348 miles. Leases. Char
. Discount and interest and miscellaneous.
109,072
lottesville & Rapidan Railroad, Orange Court House to Chariottesville,
$1,500,562 28 miles; Franklin & Pittsylvania Railroad (3 feet), Pittsville to Rocky
T o ta l...................................................
$1,221,745
Mountain, 30 miles; total leased, 58 miles. Total owned and leased,
Balance
.......................................def. $235,215
sur. $105,515 406 miles, of which 51 miles, Strasburg Junction to HiOTisonburg, is
; —(V. 50i p. 138,197, 484, 590; Y. 51, p. 143,193, 244; Y. 52, p. 679.) leased to the Baltimore & Ohio (m perpetuity at B.& O. s option tor
„„/IT^m
O il^s^o Chesa^&^T.Teaving346
n lA-wine- 346 miles operated.
U n io n Pacific L in c o ln & C olorad o.—Owns from Salina to ^8 9 ,^ 0 ye^lyL^H
junction with the Kansas Pac. Ry. at Oakley, Kan., 225 miles. The bonds ^ The Washington City Virginia Midland & Great Southern was sold
are guaranteed by Union Pac., by endorsement; trustee of mortgage is December 20,1880, and reorganized as Virginia MitUand.
In April, 1886, a lease of this road was made to the Richmoxffi & Dan
the American Loan & Trust Co., of Boston; sinking fund of % o f 1 per
- cent yearly, but bonds cannot be drawn. Union Pacific owns all the ville on the basis of a payment of the fixed charges
-stock except what is held by certain counties in Kansas. In 1890 gross the lessee of any balance of net earnings to theVngm ia MidlandCom
earnings, $194,019; net over taxes, &c., $48,326 (against $57,679 in nanv The lessee may if it chooses advance the money for interest on
- 1889) ; traffic guaranty, $119,093; total net income, $167,420; inter- the six series of prior bonds, if earnings are insufficient, but guarantees
•est $223,968, and sinking fund, $30,053; balance, deficit, $86,601, positively the general mortgage interest. The Richmond & West Point
Terminal Company owns $4,524,233 stock, most of which is deposited
l g a in s t $68,842 in 1889. (Y. 47, p. 490, 803.)
as security for its collateral trust deeds.
.... M . , .. QQ1
The fourth series bonds carried 3 per cent interest till March 1,1891,
and will bear 4 per cent till March 1,1901! ILereafter 5.
~ tiOwllj 97 miles, xioau opeueu. uutuuci, ±o/^. .Liticistju. tu
Of the $12,500,000 general mortgage bonds of 1886, $7,635,000 were
Lackawanna & Western at 6 per cent on stock. Has no bonded debt.
held to retire the serial bonds, also enough for the incomes. See arbU tica C linton & B in g h a m to n .—Owns from Utica, N. Y., to sttact of mortgage, Y. 47, p. 23. Part o f the general mortgage bcuds
•cRandallville, N. Y., 31 miles. Leased during continuance of charter bear the endorsed guarantee in gold as to principal and interest of the
■and renewals thereof to Delaware & Hudson Canal Company, which Richmond & Danville. The unstamped bonds are currency bonds, but
.pays rental of $61,500 per annum. Operated by the New York Ontario may be stamped payable in gold on a payment of ‘I H per cent.
* & Western. The street lines owned by the company are leased to Utica
From Jan. 1 to June 30,1891 (6 months), grdss earnings on 355miles
Line Street Railroad Company for $15,000 per annum. Gross were $1,077,450, against $1,037,400 in 1890.
,
earnings of this road, and Rome & Clinton 13 miles (reported together
From W y 1 to Dec. 31,1890 (6 ms.), gross earnings were $1,260,117,
•¡ Uv New York Ontario & Western), in 1889-90, were $236,689; net, aeainst $1.192,528 in 1889; net, $480,437, against $460,364.
i $62 647; loss to lessee, $12,353. Capital stock, $849,285 (par $100), of
ga m in g s for the years ending September 30 (except 1889-90, when
•which city of Utica holds $200,000,- with interest guaranteed 5 per cent. year ended June 30) were:
gur over
V a lle y (N . Y .) R a ilr o a d .—Owns from Binghamton, N. Y., to
Miles. Gross receipts. Netreceipts. charges.
' State Line of Pennsylvania, 12 miles. Opened October, 1871. Leased to
Delaware Lackawanna & Western at 5 per cent per annum on stock, 1886- 8 7 . . .......... ..........
355
$1,635,667
$583,929
1887- 88..........................
355
1>800,426
700,602
32,17*
the lessee assuming the interest on bonds
OI QPvfl
rri n Oí a
O orvA OQQ
•
t
QQQ_OA
V alley (O h io ).—Owns from Cleveland, O., to Valley Junction, 0.,75
J u l y , 1891.]
K A lL K Ò À B
STOCKS
AND
B O N D S.
13 d
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T a bles.
RAILROADS.
INTEREST o r nTVTTVETvns
IBonds—Prinol
Miles Date Size, or
pal, When Due
Amount Rate per
For explanation of column headings, &c., see notes of
of
Par
When
and by Stocks—Last
Road. Bonds Value. Outstanding Cent. Payable Where Payable,
on first page of tables.
Whom.
Dividend.
Virginia Midland—(Concluded)—6th series............ . 75 1881 $1,000 $1,310,000
5
M. & S. N.Y.,4thNational Bank. Mch. 1, 1931
Gen. mort., int. guar, bv R. & D., $12,500,000.c* 347 1886
1,000
2.456.000
5
M. & N. N. Y., Central Trust Co. May 1, 1936
General mort., prin. and int. guar, (endorsed) gold 347 1886
1,000
2.419.000
M. & N.
do
do
May 1, 1936
Charlotev.A Rapid, (l’sed) IstM., s. f.,dr’natlOO.c*
28 1879 100 &c.
430,400
' i g* J. & J. Phila. Tr. & Safe Depos. July 1, 1913
Virginia t£ Trucu ce—Stock..........................................
5.000.
000 (1)
<D
Wabash RR.—St.L. K. C. &No. 1st mort. (NorthMo.) 353 1865
1,000
6.000.
000 7
J. & J. N. Y., Bk.of Commerce, July 1, 1895
St. L. K. C. & No. 2dmort., real estate andrailway 372 1874
1,006
3.000.
000 7
M. & S.
do
do
Sept. 1, 1895
St. Charles Bridge 1st mortgage..................... c*
1878
1,000
1.000.
000 2 «• A. & O.
do
do
Oct. 1, 1908
2d mortgage........................................................
1878
100
388.500
7
A. & O.
do
do
Oct. 1, 1903
St. Louis Council Bluffs <fc Omaha 1st m ortgage.. *42 1878
626,000
6
J. & J.
do
do
July
1, 1908
Boone Co. & Booneville 1st mortgage, int. guar..
22 1873
100,000
7
M. & N.
do
do
May
1, 1903
Brunswick & Chillicothe 1st mortgage, int. guar.
38 1878
304.500
F. & A. Boston,Bank Redemp’n Aug. 1, 1903
6
to
8
Wabash 1st M., g., s. f., not dr. ($34,000,000)... .c 1.638 1889
1,0*00 22,581,000
M. & N. N. Y., Central Trust Co. May 1, 1939
2d mortgage, gold................................................ c 1,105 1889
1,000 14.000.
000 R
do
do
5 gg. F. & A.
Feb. 1, 1939
Deb.mort., ine.,non-cum.,ser. A & B, red. at par 1.638 1889
1,000 30.000.
000 6
J.
& J. N. Y., Company’s Office. July 1, 1939
Walkill Valley—1st mortgage....................................
1877
250.000
7
J.
&
J.
Aug. 1, 1917
N.Y.,Of.,5VanderbiltAv
2d mortgage...............................
....................
1877
330.000
J. & J.
do
do
Aug. 1, 1917
Ware Æircr—Stock,7 p. c.rental guar. 999 yrs.B.&Al.
49
100
750.000
J. & J. Boston, Bost. & Alb.RR. July 3, 1891
3*2
Warren (N. J.)—Stock,7 p. 0. perp., guar. D. L.& W
18 1855
50
1.800.000
3 ^ A. & O. N. Y., Del. L. & W. RR. April, 1891
2d mortgage, now 1st...............................................
18 1870
100
750.000
7
A. & 0.
do
do
Oct. 15, 1900
1st consol, mortgage................................................
18 1875
600.000
7
M. & S.
do
do
Mch. 1, 1905
Wash, city <£Pt. Lookout—1st M. bonds, g., Alex.br.s.f
12 1873
1*0*00
540.000
6 g. J. & D. Baltimore, B. & 0. RR. June 1, 1913
West Jersey—Stock, $122,250 is 6 p. c. “ special” ..
50
2,134,850 3*2 scrip M. & S. Phila., Of., 233 S. 4th St. Mar. 16,1891
1st M., cum.sink. fd.$12,500 yearly, not drawn.c* *38 1866 500 &c.
1,000,000
6
J. & J.
do
do
Jan., 1896
1st consolidated mortgage................................... c*
63 1869 500 &c.
1,000,000
7
A. & O.
do
do
Oct., 1899
Consolidated mortgage............................................r 128 1879 500 Ac.
750.000
M. & N.
6
do
do
Nov.
1, 1909
Ocean City RR. and Salem RR. b o n d s ....,.......c*
1,000
200.000
4 & 5 F. & A.
do
do
1913
& 1925
Swedesboro Railroad bonds....................................
* ï ï 1868 100 &c.
200,000
7
J. & D.
do
do
Deo.,
1898
Woods town & Swedesboro 1st mortgage..........c*
11 1882
1,000
90.000
M. & N.
6
do
do
May
1,
1912
West Jersey <&Atlantic—Stock.....................................
50
904,850
2
M. & S. Phila., Of., 233 S. 4th St. Sept. 15,1890
1st M. Newfield to Atlan. C., 33 m., dr’n at 100. c&r
33 1880
1,000
190,000
M. & S. Phila., Fidelity I. T. Co. Sept. 1, 1910
6
Pleasantville & Ocean City 1st mortgage.......c&r
7 1880 100 &c.
80.000
6
J. & J. Phila., Penn. RR. Office. July 1, 1910
W a b a s h R a ilro a d .—( See Map.)—Owns and operates an extended
system ol roads, which may easily be seen on the accompanying map, as
follows, viz.:
°
•OWNED EAST OP MISSISSIPPI EIVEE. OWNED WEST OF MISSISSIPPI EIVEE_ , ' _ ■Æ
Miles.
MilesToledo, O., to East Hannibal,
St. Louis to near Kansas City. 275
Camp Pt. and Elvaston, 111. 536 St. L. Levee to Ferguson, Mo.
11
Decatur, 111., to E. St. Louis.. 110 Moberly to Ottumwa, Mo___ 131
June, near Chicago to Effing
Salisbury to Glasgow, Mo___
15
ham and Altamont, 111........ 216 LEASED WEST OP MISSISSIPPI EIVEE.
fitreator to Fairbury...............
31 Brunswick to Pattonsb’g,Mo.
80
Edwardsville to EdwardsCentralia to Columbia, M o...
21
ville Crossing, 111......
8
Delrey,near Detroit, to Butler 110
Tot.own’d&leas’dW.ofMiss. 533
LEASED EAST OP MISSISSIPPI EIVEE.
Eel River RR., Butler to LoTot. cov’r’d b y 1st & deb. M. 1,639
gansport, Ind........................
94
TEACKAGE, ETC.
Laketon Junc. to Chicago. . . . 123
Total covered by 2d mort. 1,106 8 short pieces into Quincy,
Detroit, &c..........................
83
Operat’d for 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..........1,921
H istoey , Oeganization , &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
•fiee I nvestoes’ Supplement up to January, 1889.
The Boone Co. & Booneville RR. is leased till May, 1973. The Bruns
wick & Chillicothe was leased to St. Louis Kansas City & Northern for
S99 years. 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 Chicago & Western Indiana,
o f whose stock this company owns $$1,000,000.
Stockholders voted on November 25, 1890, to construct or ac
quire 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 March, 1891, it was decided to defer carrying out
*his plan until the earnings of the company justify the expenditure.
B onds.—The capital stock is $52,000,000, of which
$24,000,000 is preferred, having a preference of 7 per cent per annum
sion-cumulative, and $28,000,000 is com m on; par both, $100. Ab
stracts of the mortgages were published in the Cheonicle, Y. 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 w est; but the second mortgage covers only lines east of the river.
Of the debenture mortgage bonds $3,500,000 are series A (preferred in
5
m*erest payments only) and $26,500,000 series B. The series
A bonds received 3 per cent interest in January, 1890, and 3 in July; in
January, 1891, nil; in July, 6.
Price of new common stock—In 1890, 81s@15; in 1891, to July 17,
inclusive, 8
115g.
Price of new preferred—In 1890, 15@31L2; in 1891, to July 17,
inclusive, 167s@24.
Opeeations, E aenings, &c.—The annual interest charge on the firs
an1, j^cond mortgages will be about $2,615,000, and the debenture
-«all for $1,800,000 per year when earned (but not cumulative), ma.Tdn
the charges ahead of preferred stock about $4,415,000.
J 1’ t ? 9®’ to May 31,1891 (11 months), gross'earnings wer
$11,980,984, against $12,375,888 in 1889-90; net earnings, $3,216,21)
against $3,501,602.
s ’v ’
’
Fiscal year ends J une 30. Report for 1889-90 at length in Cheonicli
•V. 51, p. 381, 385.
OPEEATIONS AND FISCAL EESULTS.
1888-89.
1889-90.
Average mileage........................
1.944
Passengers carried one mile..................
152,404,045
149,183,000
Rate per passenger per mile..................
2T50 cts.
2-130 cts.
Freight (tons) carried one mile............ 1,094,717,509
1,430,197,332
Rate per ton per mile..................
0-756 cts.
0-647 cts.
Receipts—
Gross earnings.............. ........
$12,590,482
Expenses—
Maintenance of w a y ..___
$2,007,948
$1,729,231
M otive power................
2,607,790
2,651,758
Maintenance of cars.............
989,584
1,175,185
Transportation and general...
4,208,914
4,117,047
Total...............................
$9,814,236
Net earnings.....................
$2,776,246
Per cent oper. expenses to earnings...
77-95
INCOME ACCOUNT,, 1889-90.
«
Net earnings....................................
d e ceiv e d from rent of tracks, &c.......
Total............. ...................... ..............
Deduct—
Taxes.
.................................................................................... $396,491
Track, bridge rentals, traffic association expenses, &c..........
442,590
New York & Pacific Car Trust interest, one month................
12,392
Interest on bonds and rentals of leased lines................ ......... 2,652,820
Dividends on preferred debenture mortgage b on d s..... .........
210,000
Total......................................................................................... $3,714,293
Net surplus................................................................................... $237 792
-(V - 50, p. 71, 139, 392 ; V. 50, p. 792 ; Y. 51, p. 303, 348, 3 8 1 , 3 8 5 ,
9*1, 571, 680, 748, 830, 877; V. 52, p. 82, 499; V. 53, p. 22.)
W a llk lll V a lle y .—Owns from Montgomery to Kingston, N. Y., 33
miles. Stock, $330,000 (par $100). In year ending June 30, 1890,
gross earnings were $145,241; net, $24,424; interest, $17,500 ; taxes,
$5,292; surplus, $1,632. Ashbel Green, President.
W a r e R iv e r .—Palmer, Mass., to Winchendon, Mass., 49 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.
W a r r e m IV. J .—Line of road, New Hampton Junction to Delaware
Bridge, N. J., 18 ^ miles. The road is leased in perpetuity to Delaware
Lackawanna & Western at 7 per cent on stock and bonds.
W a sh in g to n City & P o in t L o o k o u t.—Hyattsville, Md., to
Shepherd, Md., 13 miles. Leased in perpetuity to the Baltimore & Ohio
for $36,000 gold per annum, being interest on debt (assumed by Balti
more & Ohio) and $3,600 for sinking fund; no drawings. The stock
authorized is $2,540,000; paid in, $1,000,000.
W e s t J e r s e y .—Main line and branches—Camden to Cape May,
Bridgeton, Riddleton, Sea Isle, Ocean City, &c., 182 miles; West Jersey
& Atlantic Railroad, 40 miles; total, 222 miles operated.
Sinking fund of $12,500 yearly for bonds of 1896 is invested in com
pany’s bonds and bonds of the Pennsylvania system, and $709,100 were
so held January 1,1891.
Dividends since 1880—In 1881,4; from 1882 to 1884, inclusive, 3 and
3 scrip; from 1885 to 1887, inclusive, 6 ; in 1888, 6*2 ; in 1889, 7 ; in
1890, March 15, 3*2 ; September 15, 3 ^ ; in 1891, March 16, 3*2 in scrip.
The scrip issued as dividend in March, 1891, does not bear interest,
but is redeemable in cash and is convertible into stock at par.
From January 1 to May 31, 1891 (5 months). gross earnings were
$497,537, against $490,646 in 1890; net, $98,451,' against $124,882.
The annual report for 1890 was published m the Cheonicle , V. 52,
p. 533. Income account has been as follows, the earnings including
those of leased lines:
income account.
1887.
1888.
1889.
1890.
$
$
$
$
1,556,033
1,526,169 1,633,745
Gross earnings..............1,469,215
Total net income.......... 513,815
529,250
455,072 522,917
Deduct—
Interest, rentals, & c... 312,149
289,407
248,933 251,237
Dividends.................... (6)89,142 (6^)138,082 (7)148,217(7)148,217
Balance, surplus. . ....... 112,524
101,761
57,922
123,463
—(V. 46, p. 191, 5 0 9 ; V. 48, p. 5 2 6 ; V. 50, p. 3 5 0 ; V. 52, p. 53 3 .)
W e st Jersey & A tla n tic .—Owns Newfield, N. J., to Atlantic City,
N. J., 33 miles; Pleasantville & Ocean City RR., 7 miles; total, 40 miles.
Opened June 17,1880, and operated by West Jersey RR. on a joint
traffic agreement and 25 per cent of gross receipts on West Jersey from
traffic of this road to be applied to any deficit in interest and then as
sinking fund for bonds purchasable at 105, or drawn at 100, if over 105.
In 1888 net earnings were $82,787; in 1889, $43,573. In 1890 net
earnings were $43,043; interest, etc., $18,914; dividends, $40,342.—
—(V. 50, p. 313.)
W e st Shore.—(See Map New York Central <£ Hudson River.)—Line
of road from Weehawken, N. J., opposite New York City, to Buffalo,
N. Y., with branches to Albany City and Rochester City, about 448 miles
in all. This company was organized in December, 1885, as successor to
the New York West Shore & Buffalo, sold in foreclosure.
Leased in 1885 for 475 years to the New York Central & Hudson Com
pany and all earnings, <fec., 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 newr bonds. The mortgage is made to the Union
Trust Company as trustee, and covers the line of road, Weehawken to
Buffalo, with branches, 448 miles in all, and also the terminals at Wee
hawken by ownership of all the stock and bonds of the Terminal Com
pany. The guarantee of the New York Central & Hudson is absolute as
to interest and principal and is endorsed on each bond. See abstract of
mortgage in Y. 42, p. 176.
W e st V irg in ia Central & P ittsb u rg .—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,
72-44
West Virginia, to Elkins, Randolph County, West Virginia, 84 miles;
branches to Mineville, Elk Garden, &c., 17 miles. Leases Piedmont &
Cumberland Railroad, Piedmont to Cumberland, 30 m iles; total oper
ated, 131 miles. Owns 32,244 acres of coal and lumber lands covered
by the first mortgage and has mineral rights on 5,407 acres more. In
January, 1891, stockholders voted to authorize the issue of $500,000
1NYEST0BS’
SUPPLEMENT.
[V ol .
L in .
J u l y , 1891.1
KAILROAD
STOCKS
AND
BONDS,
141
Subscribers w ill confer a great fa v or by g iv in g Im m ed iate notice o f any error discovered in these T a b les.
RAILROADS.
Miles Date
of
For explanation of column headings, &c., see notes of
Road.
on first page of tables.
West Shore—1st mortgage, guar, by N.Y.C.&IIud.c&r
West Virginia Central <£ Pittsburg—Stock................
1st mortgage, gold ($25,000 per mile)................ c*
West Virginia & Pitts.—1st M., s. f. not drawn, g . . .c '
West'n (Ala.)—Con. M.,g.,gu.byC.Ga. andGa.RR.e*
Western Maryland—1st & 2dpref. M’s (1st M. end’d)
3d mortgage, endorsed by City of Baltimore........
4th mort., in return for City of Baltimore stock..
5th mortgage, held by City of Baltimore, sink’g f ’d
City loan....................................................................
Balt. &Harrisb. RR.; prior morts. see remarks__
Mortgage (for $690,000)....................................c*
1stM. west. Ext., gu.bymdors. ($16,000p. m).c*
Balt. & Cumb. Val., 1st mortgages (see remarks)
Western N. IV <£Pennsylvania—Stock ($30,000,000)
Warren & Franklin 1st mortgage..........................
West. N. Y. & Penn. 1st M., ($10,000,000), gold.c*
2d mortgage (1st on equipment, etc.), gold. ..e*
2d mortgage, deb., inc., non-cum., red. at option
Income scrip, convert., redeemable at option...
Non-convert, income scrip........... .............. .......
West. No. Car.—1st con. M., now 1st M., gold, guar.c*
2d consolidated mortgage ($15,000 per mile).......
Western Pennsylvania—1st mort., Blairs, to Butler..
1st mortgage, Pittsb. Br., Freeport to Allegheny.
Consol. M. for $5,000,000, g., guar, by Pa. RR..c*
Wheeling <6Lake Erie—Common stock.....................
Preferred stock, 6 per cent, not cumulative..........
1st mortgage, gold............. .......................... .....c *
448
ids
138
90
90
90
90
32
15
34
670
50
630
630
287
287
60
28
98
187
Bonds—Princi
INTEREST OR DIVIDENDS.
Size, or
pal, When Due.
Amount Rate per
Par
When
Where
Payable,
and
oy
Stocks—Last
Value. Outstanding Cent. Payable
Whom.
Dividend.
1885 l , 000&c $50,000,000
4
J. & J. N. Y., Gr’d Cent. Depot. Jan. 1, 2361
100
5,500,000
1
Baltimore, Co.’s Office. Mch. 20,1891
1881
1,000
2,600,000
6 g. J. & J. N.Y., J. H. Davis,&Balt. July 1, 1911
1890
1,000
3,000,000
5 g- A. & (). N. Y., Farm. L. & Tr. Co. Apr. 1, 1990
1888
1,000
1,543,000
4 12g. A. & O. N. Y. Security & Tr. Co. Oct. 1, 1918
’58-’6f 500 &c.
222,000
6
J. & J.
1890 & 1895
1870 500 &c.
875,000
6
J. & J. Balt., N. Mechanics’ Bk. Jar., 1900
1872
1,000,000
6
J. & J.
do
do
Jan. 1, 1902
1887
1,704,000
3^4 J. & J.
do
do
Jan. 1, 1927
084,000
4
J. & J.
do
do
July 1, 1925
207,000
5 & 6 Various Baltimore, Co.’s Office. 1892, ’95 & ’99
1886
1,000
483,000
5 g. M. & N.
do
do
Nov. 1, 1936
1888
1,000
240,000
do
do
5 g. M. & N.
May 1, 1938
’79-’81
351,800
6
J. & J.
do
do
July,1929&’31
Too 19,928,000
1865 500 &c.
800,000
7
F. & A. N. Y., Office, 35 Wall St. Feb. 1, 1896
1887
1,000
8,950,000
5 g- J. & J. N. Y., Bk. of New York. Jan. 1, 1937
1887
1,000 19,498,333 3g.or5sc. A. & O. Paid 2*2 scrip Apr., ’91. Oct. 1, 1927
Yar.
732,000
5
A. & O.
None paid.
After 20 years
Var.
2,509,413
5
A. & O.
None paid.
After 20 years
390,367
1907
1884
1,000
3,637,000
6 g- J. & J. N. Y., 4th Nat. Bank. July 1, 1914
1884
1,000
4,110,000
A. & ().
6
Oct., 1914
1863 500 &e.
790,000
A. & O. Philadelphia, Penn. RR. Apr. 1, 1893
6
1865 100 &c.
435,000
6
J. & J.
do
do
Jan. 1, 1896
1,000
1888
3.000.
000 d g. J. & D.
do
do
June l j 1928
100
5.000.
000
100
4,500,000
Q .-F . N. Y., Office, 40 Wall St. Aug. 17,1891
1*4
1,000
1886
3,000,000
5 g. A. & O. N. Y., Central Trust Co. Oct. 1, 1926
stock held in the treasury and $1,100,000 bonds for the extension of per cent may be paid, but after 3 per cent has been paid on second
the road. V. 52, p. 204. Extensions also projected to Pittsburg on the mortgage bonds, the stock and seconds share alike. The scrip issued
north and the Chesapeake & Ohio Railway on the south. An important for interest bears 5 per cent interest, non-cumulative, payable only if
¡traffic agreement was made with the Baltimore & Ohio in May, 1891. earned, is secured by the coupons placed in trust therefor, and is due
(See V. 52, p. 796.)
20 years from date, but redeemable at option. It is convertible into in
Dividends—In 1889,1 per cent; in 1890, March, 1; 1891,March20,1. come debentures, also non-cumulative, and payable at option. Trustee
From January 1 to May 31, 1891 (5 months), gross earnings were of first mortgage, Mercantile Trust Company, of New Y ork ; of second
.$455,120, agst. $344,902 m 1890; net, $150,290, against $116,510.
mortgage, Fidelity Trust & Safe Deposit Company, of Philadelphia.
In 1890 net profits (coal and railroad) were $266,320; surplus over (See mortgage abstracts, Chronicle, V. 47, p. 109.)
fixed charges, $101,325. In 1889, net profits on coal sales, $105,017.
Second mortgage coupons due in 1888,1889,1890 and April, 1891,
net from railroad, $109,567; total net revenue, $214,584; interest paid’ were paid in scrip. Due on new equipment April 1,1891, $1,217,399;
$122,414; surplus, $92,170. H. G. Davis, Baltimore, President—(Y’ bond and mortgage on real estate, $353,904.
46, p. 4 8 0 , 610; V. 48, p. 129; V. 50. p. 8 7 3 ; V. 52, p. 126, 204, 796.)
In addition to the stock outstanding there is $10,269,556 in the com
W e s t V irg in ia Sc P ittsb u rg .—(See Map Baltimore & Ohio.)— pany’ s treasury, $10,000,000 of which can be disposed of only by unanIn operation from Clarksburg, West Va., on the Baltimore & Ohio,' mous consent of stockholders present at a meeting duly advertised.
From July 1, 1890, to May 31, 1891 (11 months), gross earnings
via Weston & Buchanon, to Sutton, 70 miles, with branch from Buwere $3,258,344, against $3,336,944 in 1889-90; net, $992,459, against
chanon to Newton, 25 miles; extensions under construction.
$914,658;
surplus over charges, $400,995, against $214,233. In year
Leased for 999 years for 37*2 per cent of gross earnings to the Balt. &
Ohio, which guarantees any interest on the bonds not met by rental. ending June 30,1890, surplus over chargeswas $301,258 against $126,876
in
1888-89.—(V.
49, p. 236, 826; V. 50, p. 1 0 5 , 353, 834, 875 ; V.
See Y. 51, p. 718. In 1905 and at end of every ten years thereafter
rental may be altered by arbitration. The first mortgage for $4,000,- 51, p. 240, 348, 571, 788 ; V. 52, p. 80, 322.)
000 (trustee, Mercantile Trust Company of Baltimore) covers besides
W e ste rn N orth C aro lin a.—(See Map o f Richmond <£ West Point
the road and its equipment 134,842 acres of timber, coal and mineral Terminal)—Owns
Salisbury, N. C., to Paint Rock, Tennessee State
lands in West Virginia. Bonds for $1,000,000 are reserved for branches, line, 185 miles; from
to Tomotia, 117 miles; total, 302 miles.
etc. There is a sinking fund, but the bonds cannot be called. Stock) Under constructionAsheville
Tomotia
to Murphy. In May, 1886, leased to the
$3,400,000; par, $100. Pres’t, J. N. Camden.—(V. 50, p. 351, 482,726 ; Richmond & Danville for $134,980—interest
on bonds. Stock, $4,000,V. 51, p. 718.,
000 common and $4,000,000 preferred. The 2d consolidated mort
W e ste rn A la b a m a .—L i n e o f R o a d — Selma to West Point, 1 3 8 gage for $4,110,000 and $1,325,000 of the 1st consols are deposited to
miles. Sold May 1 0 , 1 8 7 5 , in foreclosure and purchased iointly by the secure the 1887 collateral trust of Richmond & West Point Terminal,
Georgia Railroad and Central Railroad of Georgia. In 1 8 9 0 gross while $3,160,000 common and $3,160,000 preferred stock are de
earnings were $ 5 6 6 , 0 7 0 ; net, $ 2 0 0 , 8 4 1 ; surplus over fixed charges, posited under its collateral trust of 1889; $850,000 of 1st consols are
$ 9 9 , 4 2 0 , against $ 2 2 , 6 4 7 in 1 8 8 8 - 8 9 . Stock, $ 3 , 0 0 0 , 0 0 0 (par, $ 1 0 0 ) , of reserved to retire the 7 per cents.
which Central o f Georgia and Georgia Railroad each owns $ 1 , 5 0 0 , 0 0 0 .
From January 1 to June 30,1891 (6 months), gross earnings on 296
W e ste rn M a ry la n d .—L ine of R oad—Baltimore to Williamsport, miles were $500,150, against $462,444 on 292 miles in 1890.
From July 1 to December 31,1890 (6 months), gross earnings were
Md., 90 miles. Leases—Baltimore & Cumberland Valley Railroad and
extension, Edgemont to Shippensburg, Pa., 34 m iles; Baltimore & Har $510,012, against $427,350 in 1889; net, $175,297, against $99,143.
In
1889-90 gross earnings, $889,938; net, $233,952; surplus over
risburg Railroad, Emory Grove, Md., to Ortanna, Pa., 59 m iles; western
extension, Ortanna to Fairfield, 4 miles, and operated branches, 19 charges, $7,177, the charges here not including $278,250 interest on
bonds
held by Richmond & West Point Terminal, nor $99,691 interest
m iles; total, 206 miles. The Baltimore <fe Harrisburg, which was leased
on open accounts. In 1888-89 gross, $801,074; net, $109,485
in November, 1886, for 99 years, is practically owned.
June
30,1890, there was due other companies, $1,775,826.
The Baltimore & Cumberland Railroad and Railway are leased for in
terest on $121,300 bonds, due July 1,1929, and the Baltimore & Cum
W
e
ste
rn P e n n sy lv a n ia .—Owns from Bolivar to Alleghany City,
berland Railroad extension is leased till November 1, 1931, at $32,700 Pa., 77 miles;
branches to Butler and Winfield Furnace, 29 miles;
per annum, (equal to 6 per cent interest on $230,000 bonds, due July 1, total,
106
miles. Leased to the Pennsylvania RR. for 50 years in 1883 i
1931), and 7 per cent on $270,000 stock.
net earnings. The lessee, owns $1,753,350 of the $1,775,000
Concerning the projected lines, see annual report in V. 51, p. 875. rental,(par,
$50), and guarantees the consolidated mortgage bonds of
In January, 1891, the Potomac Valley filed a mortgage for $2,000,000. stock
1888; $1,225,000 bonds are reserved for prior bonds. Gross earnings
Bee V. 52, p. 121.
in
1889,
$1,577,541;
net, $627,191; gross in 1890, $1,883,192; net,
The stock is $684,700; par, $50. The company has been largely as
surplus over interest and 6 per cent dividends, $544,116.
sisted by the city of Baltimore, which owns $200,000 of its stock. The $844,116;
Dividends
have
been—In
1885, 6 per cen t; in 1886, 9 ; in 1887, 3 ; in
city prior to March 28,1891, had paid out by way of interest on the
company’ s guaranteed loans and on its own bonds issued against the 1888, 6 ; in 1889, 6 ; in 1890, 6 ; in 1891, April, 3.
•company’s mortgages deposited with it as collateral, the sum, it is
W h e e lin g Sc L a k e E rie .—Owns Toledo, O., to Bowerston, O
stated, of $2,801,222 in excess of amounts repaid by the company. 174 miles, and branch to Huron, O., 12 miles; Wheeling Division,
The first mortgage, for $43,500, due in 1890, is overdue.
Bowerston to Martin’s Ferry, opposite Wheeling, 42 m iles; Steubenville
In June, 1891, Mr. John H. Bryant, offered $1,875,000 for the city’s branch, 14 m iles; Toledo Belt, 5 miles, and coal branches, 8 miles.
interest in the road. V. 52, p. 863.
Total, 255 miles. Will enter Wheeling by new Union Bridge to be com
Of the issue of $690,000 Baltimore & Harrisburg bonds, $207,000 are pleted in July, 1891.
held in trust to pay off prior mortgages, as follow s: Bachman Valley
Sold in foreclosure April 23, 1886, and reorganized in July, 1886,
first 5s, due April 1,1892, $45,000; Hanover Junction H. & G. first 6s, with stock of $3,600,000 ($100 shares), which in March, 1888, was
•due January 1,1895, $42,000; Baltimore & Hanover first 6s, due Janu made preferred 6 per cent non-cumulative. In December, 1889,
a ry 1,1899, $120,000.
$3,500,000 common stock was issued to provide means for new con
In addition to the bonds in the table the company is said to be respon struction, and this was afterwards authorized to be raised to $6,000,000.
sible for $226,530 six per cent funded coupon certificates, for a Hillen On April 15,1891, stockholders voted to increase the preferred stock
.Station 8 per cent loan of $200,000, and for Western Maryland Termi from $3,600,000 to $4,500,000.
nal 7s to the amount of $131,163. The floating debt on April 1,1891,
Dividends on preferred stock—From April, 1888, to February, 1891,
was $522,770 (consisting of notes and bank discounts), and the total both inclusive, at the rate of 4 per cent per annum; in May, 1891, l 3^
past-due interest paid by the city of Baltimore, $2,801,222. Total in (at rate of 5 per cent per annum); Aug. 1 7 ,134.
debtedness, $9,947,086; fixed charges, $536,325. Sinking funds Octo
The improvement and extension mortgage of 1889 for $1,900,000 (of
ber 1,1890, $208,602.
which $500,000 is reserved to retire the Toledo Belt bonds) covers,
Fiscal year ends September 30. In 1888-89, gross earnings were subject to prior liens, all the property of the company, and is a first lien
=$773,468; net, $255,726; betterments, $101,218; in 1889-90! gross, upon the extension to Bellaire and upon the Steubenville branch.
•$812,055; net, $277,871; betterments, $65,684.—(V. 48, p. 490; V. 49.
From July 1 to April 30,1891 (10months), gross earnings on 237 miles
¡p. 270; V. 51, p. 21, 52, 8 7 5 ; V. 52, p. 863.)
were $1,001,197, against $842,346 on 187 miles in 1889-90; net, $388,W e s t e r n N e w Y o r k Sc P e n n s y l v a n ia .—Owns Buffalo to Em 817, against $336,905.
Annual report for 1889-90 was in Chronicle, V. 51, page 568.
porium, Pa., 121 m iles; Buffalo to Oil City, Pa., 136 m iles; Oil City to
1887-88.
1888-89. 1889-90
Olean, 116 m iles; branches, 261 m iles; total owned, 634 miles; track
$
$
$
age, 6 m iles; total operated, 640 miles.
818,352
870,495 1,047,419
This company was organized November 22,1887, as successor to the Gross earnings......................................
241,835
302,158
398,088
■Buffalo New York & Philadelphia (a consolidation of 1883), which Net earnings..........................................
145,322
150,066
187,500
became embarrassed in 1884 and was sold in foreclosure September 15, Interest paid..........................................
11887. The plan of reorganization was in V. 42, p. 242. First mortgage Dividends paid on preferred*stock... (2) 70,268 (4) 144,866 (4) 144,000
’.bonds are reserved to pay the Warren & Franklin bonds at maturity.
Balance, surplus...........................
26,245
7,226
66,588
The second mortgage bonds are a second lien on the railroad and first
“ on terminals, coal and equipment, subject to lease ’of terminals and —(V. 50, p. 71,197, 910; V. 51, p. 344, 5 68, 910; V. 52, p. 204,428, 762.)
equipment to first mortgage bondholders if foreclosed.” Till January,
W ilm in g to n C olu m b ia Sc A u g u sta .—Owns from Wilmington,
1898, they bear interest at the rate of 3 per cent, but till 1893 interest N. C., to Columbia, S. C., 189 miles. Leases jointly with Northeastern
may be paid wholly or partly in scrip as follow s: 1 per cent cash, 4 South Carolina Railroad, the Central Railroad of South Carolina, Lane,
scrip; 1*2 cash, 3 scrip; 2 cash, 2 scrip; 2*$ cash, 1 scrip; or 5 per cent if S. C., to Sumter, S. C., 38 miles. Total operated, 227 miles. An exten
•paid all in scrip; after 1898 the rate is 4 per cent cash and, if earned, 7 sion is p^pjected from Fayetteville to Rowland, N. C., 41 miles.
142
INYESTOES’
SUPPLEMENT.
p v oL . L i n .
Subscribers w ill confer a great fa v o r by g iv in g im m ed iate notice o f a n y error discovered in these T a b les.
------------- --------------------------------------------------------—
Bonds—Princi
INTEREST OR DIVIDENDS. pal,When D ue.
RAILROADS.
Miles Date Size, or
Amount
Stocks—Last'
Where
Payable,
and
by
When
per
Par
of
For explanation of column headings, Ac., see notes of
Outstanding Rate
Dividend.
Whom.
Payable
Cent.
Value.
Bonds
Road.
on first page of tables.
Wheeling A Lake Erie—( Concluded.)—
1st M. Wheel., Div., $ & & (2d on 187 miles)... .c*i
Toledo Belt Railway 1st mortgage, gold, gu a r....
Exten. andImpr. mort. for $1,900,000, g.,$& £.e*
Wilm. Colum.AAug.—Stock, 6 p. c., guar.Wil. & Wei.
1st mortgage.............................. - - ......... . - - - ••
*0
Wilmington A North.—IstM ., 20-40’s ($1,000,000) r.
Wilmington A Weldon—Stock..... ...............................
Certificates of indebtedness, non- cum., income...
Sinking fd. bds., g., provided for by gen’l m ort.c
Gen’l mort. for $4,000,000 ($12,000 per mile). .c*
Special Trust certificates.....................- ......... -----Winona A South W —1st M., $18,500 p. m., gold-.c*
Wisconsin Cent. Co.—Chippewa Falls & West. IstM .
Wisconsin A Minnesota 1st mortgage....................
Minn. St. Croix A Wisconsin, 1st m ortgage.........
Terminal mortgage notes.................. ......... - .......
Improvement mortgage notes........................... Wisconsin Central Co. 1st M. for$12,000,000,g.c
Income M., non-cum., gold, for $9,000,000.. .0
Central Car Co. Equipm’t, leases and contracts.
Chicago Wis. & Minn, (leased)—1st 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 eum.)gold.c*&r
Wis. Cent. Co.A RR. Equip. AImp. s. f. bonds, gold
Worcester Nashua A Rochester- Stock.......................
■Hr Worcester & Nashua RR. b on d s...c
do
do
do ...0
Nashua & Roch. RR. bonds... c
fe «H g c8 § IWor.do
do
do ...c
O co
I Nash. A Roch. 1st mort. bonds.......c
Zanes. A Ohio River—1st M „ gold, $25,000 p. m. .cj
50
6
1888
1888
1889
1880
1887
1885
100
10
54
All.
AU.
122
384
384
94
46
46
46
46
94
80
1888
1874
1880
1884
1885
1886
1887
1887
$1,000
1,000
1,000
100
1,000
500
100
100
1,000
1,000
1,000
1,000
1,000
1,000
l ’ óòo
1885
1885
500
Ac.
1879
1879 500 Ac.
1891
1Ö0
1873 500 Ac.
1875 l,000Ac
1,000
1886
1890
1874 500 Ac.
1886 100 Ac,
Sold in foreclosure October, 1879, and reorganized. Dividends of 6
per cent yearly have been paid since 1881.
-.„„„„ j
V In June, 1885, the road and property of this company were ^ ased for
99 years to the Wilmington & Weldon, the lessee to pay ^
fixed charges and 6 per cent dividend on the stock, payable semi-annu
a l l y in Jamiary and July. In year ending June 30,1890, gro w'earnings
were $944,476; net, $296,335; total net (adding other
naid interest $96 000; dividend, $57,600; taxes, &c., $23,837; balance
W f f l l t o n W S n f m m * In 1888-89, gross, $840,114; net.
$204.596.—(V. 47. p. 8 0 1 ; V. 52, p. 39.)
W ilm in g to n & N orth ern .—Owns from Wilmington, Del., to
Highs Junclion, Pa., 71 miles; branches, 17 miles; total owned 88
m iles; trackage, 4 m iles; total operated, 92 miles. Organized January
18,1877, as successor to the Wilmington & Reading ^ a ilr ^ d ; sold m
foreclosure December 4,1876. Of the mortgage for $:1,000,000, only
$500,000 can be issued on present mileage. Stock authorized, $l,DOO,000; outstanding, $1,275,050; par $50. Gross eannngs in 1890,
$439,191; net, $77,944; surplus over fixed charges, $52,944.
. W ilm in g to n & W e ld o n .—Owns Wilmington to Weldon, N. C.
i6 2 milesToranches—Tarboro, 16 miles; Scotland Neck (Halifax to
Kinston) 86 miles; Fayetteville (including Midland of N. C.,93 miles;
Nashville, 19 miles; Clinton, 13 miles; other, 3 m iles; total owned,
392 miles. Operates Albemarle A Raleigh RR., Tarboro to Plymouth.
54 miles-.Florence RR., 27 miles; Manchester & Augusta. 16 miles.
Leases Wilmington Columbia & Augusta, 189 miles; Central South Car
olina (iointly with Northeastern South Carolina RR., 38 miles; has
$653,510 invested in the Norfolk & Carolina RR., 110 miles; total of
$1,500,000
500,000
1,400,000
960,000
1,600,000
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
10,861,311
7,527,166
2,943,642
2,860,000
1,040,000
1,522,000
13,247
m
3,099,800
250,000
385,000
150.000
80,000
565,000
2,000,000
g. J. A J. N.Y., Cent.Tr.Co.& Lon July 1, 1928*
each year
g- M. A S. N. Y., Central Trust Co Part
Feb. 1, 1930
do
do
g. F. A A.
July 10,1891
Wilmington, N. C.
J. A J.
J. A D. New York & Baltimore June 10,1910*
1907-1927
J A D. Co.’ s Office, Wilm., Del
J A J. Wilm., N.C., C o .O ffice Jan. 15,1891
Irredeemable.
do
do
A. A O.
1896
g. J. A J. N.Y.,Balt. and Wilming,
1935
do
do
J. A J.
At
Co.’s
optiom
Wilmington, N. C.
M. AN .
Apr.
1, 1928
N.
Y.,
J.
Walker
&
Sons.
A.
A
O.
g.
1904
Boston,
M. A N.
Apr. 1, 1910
do
A. A 0.
May 1, 1915
do
M. A N.
Fob. 1,1895
do
F. A A.
Slept. 11,1900
do
M. A S.
July
1, 1937
N.Y.,36
Wall
St.&
Lond.
g. J. A J.
July 1, 1937
No coupons paid.
g. A. A 0.
1894-1899
M. A 8. New York, 36 Wall St Mch. 1, 1910
6
Mch. 1, 1916
Jan. 1, 1909
5 g- J. A J. Boston, 5Ó State St.
Jan. 1, 1909'
7 g. J. A J.
May 1, 193L
M.
A
N.
5 g.
July 2, 1891
Worcester, Office.
J. A J
3
A. A O Boston, Globe Nat. Bk, Apr. 1, 1890
5
Feb. 1, 1895
do
do
F. A A
5
July 1, 1906
do
do
J. A J
4
Jan.
1, 1930
do
do
J. A J
4
Apr. 1, 1894
do
do
A.
A
O
5
6 g. Jf . a a Last paid Feb. 1,1889 Feb. 1, 1916
5
5
5
3
6
5
4
7
7
5
6
6
7
7
6
8
8
5
5
perpetuity. Rental is 37*2 per cent oi gross earnmgs, ie»a its
tion of terminal charges ; but surplus rental over $350,000 yearly 18
divided equally with lessee.
'■
„
. . _ ., ~
The Milwaukee A Lake Winnebago Railroad, from Neenah to Schiersingerville, is leased to the Wisconsin Central Railroad for 99 years ;
the rental is 37 ^ p e r c e n t of gross earnings up to $175,000 per year,,
all surplus to go equally to lessor and lessee.
S t o c k s a n d B o n d s . —There are also Minnesota transfer bonds, due*
August 1,1891, $70,000; Penokee 1st 5s, due 1937, $30,000; St. Paul A
St. Croix Falls 1st mortgage 6s, due November 1,1891, $90,000. Thepreferred stock (6 per cent cumulative) is $3,000,000; common stocks
$12,000,000. The first mortgage bonds of 1887 and (subject to these)
the incomes cover all the company’s interest now or hereafter acquired
in any of the lines which at the time of the making of the mortgage
were operated in the Wisconsin Central system, whether owned or
leased. They therefore cover all the securities of said companies liel<r
by the Wisconsin Central. Trustees of mortgages, Charles L. Colby ana
Colgate Hoyt, of New York, and Edwin H. Abbot, of Cambridge, Mass,
In June, 1891, the equipment and improvement bonds were author
ized, to retire the equipment notes, to provide for improvements,
additional equipment, etc. The total authorized issue is $12,000,000,
of which $7,000,000 will be issued for present use The bonds are the
joint and several obligations of the Wisconsin Central Company and
Railroad Company, each corporation being separately liable on every
bond and coupon. The bonds are further collaterally secured by pur
chase money first lien upon all property bought with their proceeds.
They have precedence in payment of interest over the incomes and no*
new mortgage can be put ahead of them. After June 30, 1900, a sink
ing fund equal to 3 per cent of the net rental from the Northern Pacifio
Company will be applied to purchasing them whenever obtainable in?
the open market at 105. The fixed charges, which were $1,669,386 m
1889-90, it is said will be reduced to about, $1,560,000 by the funding
of the equipment notes, etc. A full statement concerning these bonds,
with an account of the company’s financial condition on May 1, 1891,
Leased November, 1872, to Wilmington Columbia & Augusta RR.
for 99 vears. 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).
An 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 30,1890, $1,467,401 to the credit of the sinking fund.
The certificates of indebtedness, $2,500,000, were distributed to stock
holders in January, 1887, as a scrip dividend. There were also June
30,1890, $437,149 new equipment notes.
. ; .
Dividends since 1877—Froml878 to 1881, inclusive, 3 per cent; m
1882 and 1883, 6 ; in 1884 and since at rate of 8 per cent per annum.
Fiscal year ends June 30. In 1889-90, on 362 miles, including Mid
land of North Carolina, gross earnings were $1,350,853; net, $669,716;
total net (including W. C. & A. leas© account, etc.), $943,993; paid interest^$441,947; dividends, $200,000; balance, $302 046 In 1888-89
gross, $1,224,044; net, $532,872. (V. 47, p. 8 0 1 ; V. 50, p. 312; V.
51, p. 348, 876; V. 52, p. 39.)
W in o n a dc S o u th w estern .—Road projected from Winona
Minn., to Omaha, Neb., 375 miles ; completed from Winona to beyond
Osage 113 miles. The reorganization plan of the Green Bay Winona &
St. Paul provides for a traffic arrangement with this road. The Winona
Bridge, to be completed in 1891, will connect these roads. See V. 52,
v. 974. Trustee o f mortgage (for $6,950,000) Farmers’ Loan & Trust
Company. Stock, $7,500,000. (See V. 51, p, 172; V. 52, p. 974.)
W is c o n s in Central C om p an y.—(SeeMap.)—Owns junction near
St. Paul to Abbottsford, Wis., 157 m iles; branch to Bessemer, 34 miles;
other branches to Eau Claire, Ac., 12 m iles; spurs, 31 miles. Leases
Chicago Wisconsin & Minnesota, Chicago to Schleisingerville, 112 miles,
and spurs, 8 m iles; trackage ta’ Chicago, Minneapolis, &c., 26 m iles;
total 380 m iles; controls Wisconsin Central Railroad, owning from
Menasha to Ashland, 252 miles; Stevens Point to Portage City, 71
miles* branches and spurs, 62 m iles; and leasing Milwaukee & Lake
Winnebago, Neenah to Schlesingerville, 64 miles, and spu r2 miles;
Packwaukee to Montello, 8 m iles; trackage, Milwaukee to Rugby Junc
tion, etc., 28 miles. Total Wisconsin Central Railroad, 487 miles. Grand
total, 867 miles.
. . _
, 00_ ,
. ,
. .
Organization , Etc.—Organized June, 1887, to gather into a single
corporation the Wi scon Bin Central Associated Lines. Nearly all the secuiitiBS 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 contract was made with the Northern Pacific, and on
April 1 1890 this was altered to a 99-year lease, under which the North.
Pacific ’agrees to pay all operating expenses and taxes, the Wisconsin
Co furnishing the equipment. As rental the Wisconsin Co. receives
35 per cent of the gross earnings of that part of the road lying north of
thefunction with the Milwaukee & Lake Winnebago and 37*2 per cent
o f the gross earnings of the Milwaukee & Lake Winnebago and the Chi
cago Wisconsin & Minnesota. If operating expenses are less than 59
per cent of gross earnings, the saving is to be divided between the lessor
and the lessee. The lessee assumes all operating contracts, but the Wis
consin Company is to pay all rentals accruing under such contracts, ex
cept 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
WTlieWisconsiii Central Railroad had a land grant of 838,628 acres, of
which to June 30,1890, 250,000 acres had been sold for $700,203, and
2,626 town lots and 42 blocks, for $125,597, receipts from p
@FedFRASER