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ewnt
OP TEE
QOMMERCIAL
&
flHANClAL QHROMICLE.
26
VOLUME
WILLIAM
102
The
189O.
LI.
DANA
& CO, PUBLISHERS,
WILLIAM STREET, NEW YORK.
B.
is issued once in two months, viz., on the last Saturday of
Supplement
January, March, Mayj July, September and November, and one copy of each issue is
furnished to every subscriber of the CHRONICLE.
Extra copies are sold to subscribers of
the
Investors'
CHRONICLE
at to cents each, or to others than subscribers at $i per copy.
(Entered according to Act of Congtosa In the year 1890, by \VM. B. T>\
.
n. r.]
CHRYSTIE & JANNEY,
6
Wall Street,
NEW YORK.
Traasact a general banking business.
Allow interest on daily balances.
Receive deposits subject to check at sight.
Deal in railroad bonds, and State, County and Municipal securities.
Make collection of drafts, notes, dividends and coupons throughout the United States and Canada.
Give special attention to consignments of bullion, and make
liberal
advances on same when desired.
VERMILYE &
&
16
18 Nassau
Street,
CO.
New
York.
ALL SECURITIES LISTED AT THE NEW YORK, PHILADELPHIA AND BOSTON
STOCK EXCHANGES BOUGHT AND SOLD ON COMMISSION.
RECEIVED
DEPOSITS
AND
GOVERNMENT, CITY
AND
INTEREST ALLOWED ON BALANCES, SUBJECT TO
DRAFTS AT SIGHT.
RAILROAD BONDS, AND OTHER CHOICE INVESTMENTS,
AND ON HAND FOR IMMEDIATE DELIVERY.
SAMUEL
DAVIS &
D.
FOR
SALE
CO.,
JB
"Wall Street,
3ST.
MEMBERS NEW YORK STOCK EXCHANGE.
INVESTMENT SECURITIES A SPECIALTY.
INTEREST ALLOWED ON DEPOSITS SUBJECT TO SIGHT DRAFT.
SAMUEL
D. DAVIS,
of
J. S,
WOOD &
CHARLES
DAVIS.
STREET,
JVASSATJ
NEW
Box 1466.
Brokers and Dealers
in
RAILROAD
YORK.
AND APPROVED
PAYING FROM 4 TO
for
FARLEE.
Investment^BondsJand^Stocks.
STATE, MUNICIPAL,
On hand
D.
FARLEE & BROTHER
7-
P. O.
VAN NOSTRAVD.
ROBERT
FARLEE.
J. S.
B.
Immediate Delivery, suitable
Conservative Investors.
B
6
N
'D S
:O
PER CENT,:
,
Savings Banks, Trust Funds
Correspondence Solicited.
for
and
other
ukste'
OF THK
&
QOMMERCIAL
[Entered according to act of
VOL.
ConnreM.
NEW
51.
flNANCIAL QHRONICLE.
la tha year 1880. tij
WM.
B.
Dufi *
YORK, JULY
INVESTORS' SUPPLEMENT.
WILLIAM
B.
DANA &
102
WUHam
Nev> York.
RANGE OF STOCK PRICES SINCE
1886.
the results for an even period of six months.
Such a record is useful to all persons interested in
stocks and bonds, or Stock Exchange fluctuations; and it
a valuable contribution to the general summary of
information on investment matters. The period of
three and a half years given may be said to comprise two
is
The rise in values which
West Shore settlement of 1885,
culminated with the money panic of December 1886.
After that the general tendency of prices was downwards, though some stocks attained higher figures in
had
its
movements
of prices.
origin in the
1887 than in 1886.
The year 1888 was
The
distinctly a period of depression.
of course very
causes are well
known and need be enumerated only very briefly. The
building of an excessive amount of new railroad milewith the multiplication of parallel and competing
lines; the shortage of the crops in certain sections; the
enactment of the Inter-State law, changing in essential
age,
RANGE OF STOCK PRICES AT LEADING
STOCKS.
CITIES
2t5,
the Librarian of CongreM,
WMhUKton,
D. C.]
1890.
West, and the demand for lower rates occasioned in
by the low prices prevailing for agricultural
products; the severe winter weather of 1888, the coalminers' strikes, the strike of the locomotive engineers
part
In accordance with a previous custom, we present on
this and following pages a record of the fluctuations in
stocks on the New York, Boston, Philadelphia and
Baltimore Stock Exchanges since 1886. The highest
and lowest price for each year is given, with the date
when such price was made. For the current year we
bring the figures down to the 1st of July so as to have
general
oce of
particulars the previous methods of the railroads; the
hostile sentiment against railroad corporations in the
CO., PnblUIier*,
Street.
Co.. tn the
on the Burlington
& Quincy
all
these combined to
give a depressed tone to the current of speculation
during 1887 and 1888, varied occasionally by movements in a contYary direction by special stocks or
groups of stocks.
During 1889 and 1890, on the other hand, general
conditions on the whole have been steadily growing
more favorable, and Stock Exchange quotations have
There has not, however, been
reflected the change.
any general speculative movement that is, there has
not been a "boom." There has been a gradual and
steady improvement in prices in which most but not
The railroad presidents' famous
all stocks have shared.
agreement of January, 1889, furnished the first indication of a change for the better, and this was followed by
excellent crops, a heavy general business, large exports
and steadily increasing earnings. During the current
year there came a brief period of general speculation,
based partly on the prospects of silver inflation; but
this movement, while active enough so long as it
lasted,
terminated sooner than expected, and since then
we have again had a period
of
dulness,
though prices
have on the whole been well maintained.
DURING YEARS
1887, 1688, 1889
AND TO JULY
1
IN
1890.
INVESTORS'
SUPPLEMENT.
KANGE OF STOCK PRICES AT LEADING CITIES DURING YEARS
STOCKS.
1887, 1888. 1889
[VOL,
AND TO JULY
1
IN
1890.
It
CONTIN
JULY, 1890.]
INVESTORS' SUPPLEMENT.
INGE OF STOCK PRICES AT LEADING CITIES DURING YEARS
STOCKS.
1887, 1888, 1889
AND TO JULY
1
IN 1890-CONCL'D.
STOCK AND BOND TABLES.
_
NOTES.
These tables are expressly Intended to be used In connection with the Information concerning Investment matters published from wee L
week In the CHRONICLE to which an Index Is furnished In the remarks on each page. Annual reports are In black-faced figures. The dlvldifi
as we tlve them hi the remarks are those paid to the year named, or such as ha e been declared and wdl be paid In It. In many instances t
dividend! are I aid In part out of the earnings of the preceding year, and hence It Is that the dlvl .ends appearing In connection with the eanifi
of a er often differ trom the dividends paid In the same year.
The following will give explanations of each of the columns of the tables below:
M. for "mortgage:" s. f. for "sinking fi
Railroads leaseo are somet hues given under the lessee's name. Abbreviations used are
Dttcrivtiint
"
r. for
coupon and registered; t.
Lgr. for "land grant:" r. for "registered;" o. for "coupon;" o.* for "coupon but may be registered;" o. A
:
for ''branch:" guar. for "guaranteed;" end. for "endorsed."
.
on
o
Date of Bonds The date of Issue is referred to in this column.
Miles of Road. Oppoxlte stocks, this means the miles of road operated opposite bonds, the miles covered by the mortgage.
,
.,
Sue or 1'ar Value. Thee figures are dollars, showing the denominations or par value. The figures "100, Ao.," signify $100 and larger.
- The Interest per annum Is given for bonds, but the per cent of last dividend for stocks g. means gold x, extra s. stock or F
ya tt i'rr
arc
ans or an.
.,
.,
.
ep.;
.,
WAcn 1'avable. . A J. stands for Jan. A July F.. A., Feb. A Aug.; M. A S., March A Sept.; A. O., April A Oct.; M. A N., May A Nov.; J.
June * Dec.; Q. J., quarterly from January; Q. F., quarterly from Feb.; Q. M., quarterly from March.
principal when <ive ; Stocks, last dividend. The date ID this column shows the period when the principal falls due of bonds, but the
hen the last dividend was plaid on slocks
;
.
uy
;
_
A
.
.
.
UNITED STATES BONDS.
UNITED BTATE8.
.
.
A
;
;
;
JULT ISM..
,
STATE SECURITIES.
S
INVESTORS'
Subscriber* will confer
STATES.
great favor by
I
vliis
SUPPLEMENT.
I
VOL. LI.
Immediate notice of any error discovered In these Tables.
CITY SECURITIES.
8
INVESTORS'
SUPPLEMENT.
[VOL. LI.
fULY, 1890.
j
CITY SECURITIES.
Subscriber* will confer a great favor by giving Immediate notice of
any error dieovered In the*e TaVea.
INVESTORS' SUPPLEMENT.
10
Subscribers will confer
great fkvor by clvlnx Immediate
notice of
[VOL. LI.
any error discovered In these Tables.
JULY,
CITY
1890.]
SECURITIES.
11
Subscriber* will confer a great favor by giving Immediate notice ot any error discovered In theve Table*.
CITIES.
INVESTORS'
SUPPLEMENT.
[VOL. LI.
sub.vrlbem will confer a great faror by giving Immediate notice of any error discovered In these Table*.
CITIES.
CITY
J0LY, 1890.1
SECURITIES.
Subscribers will confer a great favor by giving Immediate notice of any error discovered In these Table*.
CITIES.
13
14
LNVESTOKS'
SUPPLEMENT.
,
[VOL. LI.
RAILROAD STOCKS AND BONDS.
JULY, 1890.]
Subscriber* will confer a great favor by giving Immediate notice of any error discovered In these Tables.
RAILROADS.
16
INVESTORS
SUPPLEMENT.
[Vou
LI.
JULY,
1890.]
BAILROAD STOCKS AND BONDS.
17
18
INVESTORS'
SUPPLEMENT.
[Voi.
LL
ULT, 18*0.]
iuhcrlbr
RAILKOAD STOCKS AND BONDS.
will confer a great favor bf giving
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nr error dlcorered In tkeee Table*.
19
INVESTOKS' SUPPLEMENT.
[VOL.
BAILROAD STOCKS AND BONDS.
JOLT, 1890.]
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1
RAILROADS.
any error discovered In these Table*.
2-2
INVESTORS' SUPPLEMENT.
[VOL. L!
EAILROAD STOCKS AND BONDS.
1890.1
Subscriber* will confer a Krone favor by giving Immediate notice of any error discovered in thece Table*.
RAILROADS.
INVESTORS'
SUPPLEMENT.
[VOL. LI
Sub.rrlbem will confer a great favor by giving Immediate notice of any error discovered In these Table*.
RAILROADS.
KAiLKOAD STOCKS AND BONDS
CLT. 1890.]
tS^LiL^Af^
JWtwoiilmrg
lonesta
Jc.W
.
Marion
V
Cra.iljeny
Ridgeway^
Cannon
..,
Shippenv.lleJX
lri.m Jc
,
o
v^
JSbensburg
Crea
TSBURG
BluiSjilletC BlairsvIUe Br.
MAP OF THE
BUFFALO, ROCHESTER
PITTSBURG
V
'
f
R
G
.
INVESTORS'
SUPPLEMENT.
[VOL. I
RAILKOAD STOCKS AND BONDS.
JCLY, 1890. J
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RAILROADS.
i>>
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INYESTOKS'
SUPPLEMENT.
[VOL. LI.
JULY, 1890.]
EAILEOAD STOCKS AND BONDS.
:to
LNVESTOKS' SUPPLEMENT.
[VOL. LT.
RAILROAD STOCKS AND BONDS.
1890.]
,
e
CityJElm.woou'
Iwellini!
Mm-'kin
r.lbm
Padoa
Wigtown
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A
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frolono
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^^
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01 '" 100 011
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MAP OF THE
^Belknap
GENTRALIA & CHESTER
5,
BATT.BnATI fiOMPANY
,
INVESTORS' SUPPLEMENT.
[VOL. LI.
Subscriber* will confer a great favor by giving immediate notice ot any error dlxcovered In these Table*.
R All ROADS.
RAILROAD STOCKS AND BONDS.
.'in, 1690.1
iMurnvia
.,1,1.
N.
-kill
Scotland"
v Ik-rlln
JN.
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f Bowie
MAP OF THE
ANNAPOLr
ifenslhirg
o Milfo
^YSi
RAILROAD
"CENTRAL OF
NEW JERSEY
AXD CONXECTIUXS.
INVESTOKS
SUPPLEMENT.
1
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Adrian
*kron\
Lafi
Ajroy
^'7,CX
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8
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6
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MAP OF
CHARLESTON, CINCINNATI
t
i\Chera
Kingston >/
*&*<*
'Tnionf
V
-
M
Louisville
>T^fe3.
AND
CHICAGO
lhlbl"l
RAILROAD AND CONNECTIONS.
Coclma>
JRA1LROAD STOCKS
JULY, 1890.]
Subscriber* will confer a great favor by
RAILROADS.
AND BONDS.
Immediate notice of any error dUrorerod In the* Table*.
36
INVESTORS'
SUPPLEMENT.
[VOL. LI.
JULY,
KAILROAD STOCKS AND BONDS.
1890.]
Subr/-lber
will confer a great favor by giving;
RAILROADS.
j
Immediate notice of any error discovered In these Table*.
ar
INVESTOKS' SUPPLEMENT.
KAILEOAD STOCKS AND BONDS.
JULY, 1890.]
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RAILROADS.
an? error discovered
'.19
In thernt Table*.
40
INVESTORS' SUPPLEMENT
RAILKOAD STOCKS AND BONDS.
JULY, 1890.1
41
Subscriber* will confer a great favor by giving Immediate notice of any error discovered In tbene Table*.
RAILROADS.
INVESTORS'
SUPPLEMENT.
[VOL.
JULY,
RAILROAD STOCKS AND BONDS.
1890. J
Mii,.-ritiorn will
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14
INVESTOKS'
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[VOL.
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RAILROAD STOCKS AND BONDS.
JULT.IlSflO.J
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15
thM Table*.
46
INVESTORS' SUPPLEMENT.
MAP OF THE
CHICAGO, ST, PAUL & KANSAS CITY
RAILWAY.
FORMERLY MINNESOTA AND NORTH-WESTERN RAILROAD.
Ml.
ver
-C.
/ Y%T
'
V^
/
[VOL.
U.
JULY,
EAILROAD STOCKS AND BOND?.
1890.1
vc* GO
27"
UKrantrc
CINCINNAT
\
.
HAMILTON
DAYTON RAILROAD
AND CONNECTIONS.
I
/
'
47
INVESTORS'
Subscriber. will confer *
SUPPLEMENT.
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[VOL. LI.
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JULY, 1890.J
RAILKOAD STOCKS AND BONDS.
49
INVESTORS'
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[Vou
LI.
JULY,
RAILROAD STOCKS AND BONDS
1890.]
ubcrlbr
will confer a great favor by iclvluz Immediate uotlce ol maj error dUcurered In (he
RAILROADS.
A
Table*.
I
INVESTORS'
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KAlLROAb STOCKS A\'D EOND?.
Jr
0LY, 1890.1
]_
COLUMBUS,
3*
2^
HOCKING VALLEY
ATVD
TOLEDO
R'Y
<
EWrwlck
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MCARTHuR JcJ
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HOCKING VALLEY
COAL FIELDS,
o^'
/
/r&:.*
/Albany
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DELAWARE & HUDSON
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SL
CANAL SYSTEM.
,>"**"
W.CHAZY
Beekmantown
PLATTSBURG
Asq~ffr/
I
VOL. LI.
JULY,
RAILROAD STOCKS AND BONDS.
1890.]
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~
f*
na
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6O
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[VoL. LI.
Hot Sulpliur
MIDDLE
Spi'ings
e
J55S^.. *
:>
8ta
/^a^ * A
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^ ^K^r
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DENVER & RIO GRANDE
RAILROAD
JULY,
EAILROAD STOCKS AND BONDS.
1890.]
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61
!
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^ENTON.
/..I
li
I.
s 3iaK5..jK-
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*.%!
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3X.
/*
MATTC O
MAP OP THE
EVANSVILLE
EVANSVILLE
EVANSVILLE
& TERRE HAUTE R.
& INDIANAPOLIS R.
& RICHMOND R. R.
R.
R.
EVANSVILLE BELT RAILWAY.
PEORIA, DECATUR & EVANSVILLE RY.
Louisville,
Evansville
CINCINNATI,
&
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WABASH & MICHIGAN
R. R.
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ULY, 1890.]
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7
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RAILROAD STOCKS AND BONDS.
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RAILWAY & CONNECTIONS.
^ *T?
Simula^?;
!
/je???r^r~\
y
"nnrx^^k^lksr^^
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For explanation of column beading, Ac., see notes
on tint page of
table*.
iVcuAv.- (Continued) 1st M.,8outheast.A8t.L.Dlv.,g.c* I E.StL toEv'i
2d M.,8onthcast.&8t.L.Dlv.,if.c' ) ville A br...
Pensacola Dlv., 1st mort., gold (drawn at 105).. 0*
Pensa. A All., M.,g., mar.. $1.OOO.OOO nledeed.c*
ol
KM.".
I
INTKKE8T OR DIVIDENDS.
Size, or
of
Par
Amount
Unmix Value. Ontatandlng
Cent.
L.C.&Lex .lstM.,B.f.(uotdr'n),Louls.to Newport o*
do
2d M.,8. f.,not drawu
o*
L. * N. m. on L.C. A. L.,gold,$3,2o*,000 plrtgd.o"
1st mort., gold, on branches, $l.i,OOO per inile..o*
iJt mortgage, oollat. trust ($7,000,000), gold .0*
is:,
175
175
175
1H
Unified luorr. for $7P,OOO,00'>, foli
o**r 1,080
Henderson Bridge Co., 1st M.,g.,s f.,dr'n at 105.0"
lionitritlr,
Xew Albanu
Lou. Dlv
rf
Chicago
StocK
Consolidated mortgage gold (for $10,000,000).. o*
Gen. M.. K< Id, $25,OOO p. m. ($10,000,000 rest...
Louin. N. O. it Tex. 1st M., g., for $1 6,900,000... o
2d mort. Income bonds, cum. (payable at 105) .0
Income bonds (not cumulative)
Nmrhi z Jactson A Col., 1st if. $12.500 p.m.,g.c"
Louitritte St.Louu<tTexai-lat M.,g.,$2,800,000 c'
2d mortgage
LmiH. Harillnsburg A W. 1st mort
Louitrille, South. -1st in., gold, gnar. by rental
Lexington Ext n-ion 1st mort. bord-s gold
New mort. for$V 00,000, int. guar
..o'
288
158
51!
512
6.')7
657
657
100
121
121
42
83
o"
43
126
8t'li.lOp.ct.rental.999yrs. Nor.Cent.
Lynthbu-g it Durham 1st M. $JO,000 p. in., g..e*
Hume Central Stock
1st M.,oons. Classes A, B, OAD($269,000,5s)...c*
Collateral trust bonds for Mt. Desert Branch
c
Bluklngfund 10-208 g., red. on oraftei Fel). i. nr,.c
21
114
Lvkem
Vol.
640
304
41
-
1MS1
1890
HSli
1884
1882
1S87
1*87
18-47
1839
1800
100 Ac
I.OOO
1,000
1,000
-'5(1,000
(iliO.ODH
>OO Ac.
500 Ac.
2,500,0,10
1,500,000
(1)
""20
1890
1872
1883
188*
6OO.OOO
1,000
(1)
100
100 Ac
3,603,500
4.176.400
liOOO
t!87,OOO
600.0<X)
(V. 46, p. 511.)
The Evans nlle Henderson A Nashville bonds are drawn at 110 by
annually, in September: $30.000 per year till 1895, then increajIng each flve years, until $150,000 per year Is finally reached.
The Pensacola Division bonds are subject to a drawing sinking fund
of $5,lOO till 1900, ini-1., then"$10,000, and so incr.-aslng.
IB June, 18S 0, the " unified mortgage (trus f ee Central Trust Co. for
$75,000,000 was authorized, $41,917.660 bonds being reserved to
retire all prior liens, the balance for improvements, extensions (at the
rate of $32.000 per mile, including equipment; and fur other purposes.
The mortgage covers (besides 1,0 jo miles of road and Its equipment,)
$16,209,700 etoek of companies controlled, which is subject only to the
1040 adjustment mortgage, aud $6,498,400 stock and $1, 100,0t
lot
2 K
'
50.000
1.7C4.0OO
4.71 -,OOO
3,000.000
1,489,000
5,000,000
3.0OO.OOO
2.3OO.OOO
4.700.OOO
14,041,000
C,634.0OO
10.000.OOO
1,250,000
2,440,000
I'.OOO
g.
.
(f)
1,000
1.000
3
2.0OO,(K)0
2,850.0<Mi
1,000
1,000
1,000
18-16
Off.
.
100
isso
Tim let mortgage trust bonds of 1888 (trustee. Farmers' Loan A
Trust Co ), are eeoured by bonds on the Birmingham Mineral RR. at
$25,000 per mile, aud on toe Owensboro A Nashville RR. at $2 _>,000 per
mile.
$1,500,000
3.000.000
1,000
5:17
New Albany
to Mich. Cl'y..o*
1st M.,gold, Chic. AInd'polis Dlv., Cbio. to Ind.o'
1st M.,
1881 $1,000
1MHI
i.ooo
1XHH
1,000
is-n
1,000
1807
1,000
1S77 100.V.-.
1881
l.(XX)
1887
1,000
1888
I.OOO
189O 1,000*1-
Whom.
A B.
A 8.
A 8.
P. A A.
I. A J
A. A O.
M. A N.
M. A N.
M. A N.
J. A J.
M. A 8.
M.
M.
M.
N. Y.,50
do
do
do
do
do
do
do
do
do
do
Dividend.
EiohMige
do
do
PI. M.ir.-h 1.
do
do
do
do
do
do
do
do
Mur.-h
Mar.
AUK.
1H2U
19M
1,
.UN.
1,
19
1,
1.
Nov.
May
.'.
Nov. 1.
July 1,
July
Aug.
1921
1.
1.
n.-i.
Sept.
M.Y.,:id N.iilMii.il Bank.
A"J.
J.
F.
I'rlnc
plll,\Vll.-tl
Payable, and by
Payabln
Louin.
208
20S
45
When Where
Rate per
1,
US
19W
1M1
l.
New York,
A A.
1. 1911
rlo
VIT. 1, 191*
A O.
do
A N.
May 1, 19M
* M. A 8. Y., R. T. Wi m A Co. Bept.l, 19:44
M. A 8.
N. Y.. wht-n earned.
H.-I-C.
1, 1931
6
M. A 8. N.Y., R. T.WIUon A Oo. Sept. 1, 1934
6
M. A 8.1
do
do
Sept. 1. i-Ui
F. A A. N.Y. Oo's.offloe, 42 Wall Feu. 1, 1017
A 8.
do
do
March, 1917
6
J. A J.
do
Jan. 1. 19 1
do
6g. VT. A 8. X.Y.Bankof North Am. Mar. I. 1917
do
Jan. 1. 11
do
6g. J. A J.
J. & J.
194
July
"*
Q.-J. N.Y., office, (3 William. July 1. 1890
New York.
lino
J.- A J.
Feb. 15, 189*
P. A A.
Portland. Me., office.
5 A7
A. A O. Bost..2d.Vat.Bk..APoit. April 1, 1813
5
do
do
J. A D.
Junel, 1M
do
Feb. 1. 190S
6 g. F. A A.
do
6g.
6g.
A.
M.
.V.
I.
1
INCOME ACCOUNT.
1M7.
Crops earnings
Net earnings...
Deduct
Interest on bonds
Reutais. t:txes, &c
ti ust ntei-est
11
1
1888.
1886.
$1.919,189
.
...
Car
$2,295,623
$640,661
$805,925
$161,533
223,869
$519,914
50,01)0
,
ISM.
2SOOO
228,<I4
1
$2,292,782
$888,105
$2,495,82*
$957,18
$581.775
282,458
9V73.9U
276,34*
850.3l
$364,233
mr. $3,872 sr.$106,87
L. Breyfogle, President, N. Y.(V. 48. p. 367. 728: V. 49,.
471. 511; V. 50. p. 391,451,484. 519, 588.59J, 770; V. 51, p. 21.)
Main lima,
Louisville New Orlean* & Xex
(See Map)
bonds free from any lien
Memphis, Tenn., to New Orleans, La.. 456 miles; Riverside Division.
The Henderson Bridge Co. bonds are not a liability of the L. A N. The Coahoiun, Miss., to Klversidn June.. 151 miles; other branches. 50
bridge is owned by a separate company, with a stock of $1,000,000 mile*; Natchez Jackson &. Col.. Natehez to Jackson, Miss.. 100 milec
<pnr$100), of which the L. & N. Co. holds $501,000; the Bridge Co. total 757 mtles. For road under instruction see V. 51, p. 21.
is guaranteed gross receipts of $200,000 per year by the several roads
This road was billt in the Interest of the Huntlngton stsyem of road*,
using it, and dividend of 213 per cent Is paid each Feb. and Aug.
and forms the connecting link in that system across the Continent fro
OPERATIONS, FINANCES, &c. The Louisville A Nashville system has Norfolk to San Franeisco. The luoo-i e Bonds are a first mortgage OB
been developed in its present extensive form since 1879; the 100 per 750,000 acres of land In the Vazo Delta. The second mortgage iiondi
cent stock dividend was declared In 1880 and a few dividends after- are "incomes," receiving interest only when earned; but no Interest
wards in cash, but from '82 to '88 notuinif was paid. Under a plan was payable till March l, 1839; unpaid interest is cumulative, and bar
adopted in 1888 a dividend in stock was paid in Feb., 1888, to repre interest (if earned) at the rate of 5 p. et.; these boudu may be paid on at
sent Biirplus earns., and this policy was voted to be pursued till August 105. The Union Trust Co. of New York Is trustee of the 1st ami 24
1890. The August, 1890, dividend was paid partly in casb.
mortgages, and Edward H. Pardee and Albert Crollus of a new land
Fiscal year ends June 30
For 18S8-89 the report was in V. 49. pp. graut income mortgage which has been executed to take up the old
433, 436,442 statistics were as follows for the Louisville & Nashville income bonds; but none yet issued. Stock is $i,000,OOO: par $100. Tb
Natchez .lack-on & Columbus was purchased In Apr'l, 18 JO.
proper, figures for 1889-90 being partly estimated.
From Jan. 1 to .\larch 31. HitO (J nvis.), gross earnings were $823.Total charges....
Balance
William
$73\407
$?03,455
df.$94,746
sur.$2,469
i
;
1886-87.
1887-88.
18H8-99.
1859-90.
Total gross earnini?8.$15,080,585 $16,360,241 $16,599,396 $18,860,513
9,047.053
10,267,535
10.326,085
11,471,120
Netearnlngs
$6,033.532
Ferct.of ex. toearn.
69-99
$6.092,706
62-76
$3.273,311
62-21
$7,389.393
60-82
Oper'gex. (excl.tax.)
INCOME ACCOUNT.
invert's
Total income
1986-87.
$6,033,532
479,858
$6,092.706
528,828
1888-89.
$6,273,311
677,109
1889-90.
$7,389,39:?
$6,513,390
Receipt*
Hetearnings
Income from
$6,621,534
$6,950,420
$8,016,574
1887-88.
Disbursements
Taxes
$365,317
Rentals
Interest on debt, Ac..
Georgia RR.
deficit..
Pens. A Atl.RR. del
Miscellaneous
Dividends'
$375,557
15,000
4,237,102
55,470
15,000
4,579,803
3,453
238,943
$401,112
15.0OO I
4,590,493)
23,376
199,425
627,181
$400,000
-o
4>M
.
.
,a ,
>/sl
98,500
178,300
1,518,000
1,594,800
2,406,483
$6,530,765
$90,769
$6,824.206
$126,214
$7,614064
$402,510
*
Dividends In 1887-88 and 188S-89, 5 per cent, in stock; in 1889-90
6 per cent, of which I'i in cash, the rest In stock.
fin 1886-7 $100,591 included in expenditures was to be refunded,
Increasing the surplus by that amount; in 1*86-87, $100,591 was to
be deducted from the surplus, and in 1887-88 $218,869 to be refunded.
In 1868-89 $424,961 to be refunded, increasing the surplus by that
amount.
-(V. 49, p. 52. 82, 373, 387, 402, 433, 434, 430. 539, 789; V. 50, p.
71, 139, 174, 205, 245, 275, 351, 390, 423, 874; V. 51, p. 21, 84.)
LoulHvllle
New Albany Ac Chicago,
(See
$657,578
on bonds
Total
Balance surplus.
$973, 15X
$7,137
445.600
33.937
$4,387
5OO,9S
29.76T
$184.320
$173.258
Rantals
Miscellaneous
$587,758
$5,500
445,600
33,220
Net earnings
Deduct
Interest
8,440
Total disbursements. $4,681,338
Balance, snrpluit
$1,832,052
798. against $694,075 in 1889; net, $187,964. against $202,356.
Report for 1889 was in CHRONICLE, V. 50, p 58S.
18.*f-.
1888.
1837.
515
Miles operated
515
Gross earnings ...
$3,031.11*
$2,431.334
$2,243,211
2,057,9
1,346,57
1,535,633
Oporat'g expenses and taxes.
$486,674
$101,084
$535.134
$138,01
Other sources of income were: Sale of Billvar County Bonds.
$105.000; frjui operations of rjaiU pendiu* purchase, $72,OO4;maklug surplus for rear, $615,024.
Mr R.T. Wilson, Pres.. N. Y. (V.48,p.854; V. 49, p. 234, 471, V. 50,
p.
205, 312, 377, 588; V. 51, p. 21.)
l.inii-villr St. !,<> ul AT.- van
(SeeXap.f Louisville to Henderson, Ky., 14^ m., of w'lioa it owns Henderson to West Point, 121
miles, (completed April, 1889), and uses by contract with Chesa. Jk
Ouio Southwestern West Point to Louisville, Ky., 20 miles. Lease!
In perpetuity the Louisville Hardln. * West. RR., Ir?lngton to FotttrvIHe,
Ky., 42 miles. The 1st mortgage bonds are for $2.8OO.OOO, or
which $360,000 are held in trust for extending road to Louisville an
Trustee of mortgage, Ceutral Trust Ci'. April 1.1489,
'or terminals.
there were outstanding *3ll,904 equipment notes. Stock, $2,420,000. par, $100. From July 1. 1S83, to March 31, 1890, (8 ono?.), gross
,
mrniiKS. $279.130; nel, $110,210. W.V. McCracken A Co.. 42 WallSt,
full statement to S. Y. Stock ExohaM
68s
49, p, 146; V. 47, p. 3dl, 555, 709; V. 48,
V. 49, p. 146,434.
Agents. See
Hap towns from New New York, Fin'lV.
n CIIKOXICLE.
.
Albany, Ind. (opposite Louisville, Ky.), to Michigan City Ind.. 289
milee; Ind. State Line to Miss. Ave., Ind anapolis, 162 miles; Bedlord,
Ind., to Switz City, 43 miles; Orleans, lud.. to French Lick 8pr., 18
Lonlivllle Southern Owns from Louisville, Ky., southwesterly
miles; total owned, 512 miles. Operates under contract Chicago to to
Burglu on Cincinnati Southern RR., 83 miles; with branches to LeiState Line, 20 miles: New Albany tc Louisville, 3 miles; In Indianapolis,
nu'tnn and Georgetown. 43 miles; total, 128 miles. Leased in Deo,
to ih'uot, 2 miles; total operated, 537 miles. A lease for 999 years
1888. to Louis. New Al. A Chic., which company agreed to pay interest
with Chic, fe West. Ind. at $127,000 per year gives entrance to Chicago. on the 1st
mortgage bonds as rental; but In March, 189O. adtsjmU
The Louisville New Albany & Chicago was opened in 1852 and sold anise, and the Louisville So. was taken possession of by its owners.
In foreclosure Dec. 27, 1872, and reorganized. In Aug., 1881 consoliSee V. 50, p 834. In July, 1890. leased for 99 years to the Es*t
dated witli Chicago & Ind. Air Line A change In the management Tennessee
Virginia & Georgix, which guarantees 5 per cent Interest om
took place in vfarch, 189O. (See V. 50. p. 391.)
the new
bonris, for which the old 6 per cents are to be exchanged.
In Deo.. 1888. leased the Louisville Southern (tertninnb'e on year's All net 50-year
earnings after payment of ilxr.l charges are to be equally
notice), but In March, 1890. a dispute arose and the Louisville So. took divided between the letsor aud the lessee. See V. 51. p. 51. Stock;
possession of its road. (See references below.) The legality of the
M.SO0.030; par, $10O. See statement to New York Stooi Exchange,
guaranty by the old management of $1.185.uOO bonds of the Rich- ^HEONICLE, V.
146: also abstract of uioitgage and lease, V. 49, p.
mond Nichols sville Irvine & Beattyville Road (under construction from 342 aud 343. 49, p. March 1 to Dec. 31, 1890 (10 months), gross earnFcorn
Nlcholasvllle to Lee County) is dispute', and also the lease with the
nss (as reported by Louisville New Albany A Chicago) were $320,971;
Kentucky A ludi ma Bridge C >. Decisions have been in favor of the let, $144,286; rental K. <fe I. bridge, $133,333; surplus. $10.952. (V.
Lonis. N. A. A Chicago as to the guaranty. iSeeV. 50, p. 484.590.)
269, 342, 471, 540; V. 5O, p. 662, 831, 9O4; V. 51, p. 51.)
The general mortgage of 189U is for $25,000 per mile, but $10,OOO,- 49, p. 146,
000 are reserved to retire the 1st mort. bonds as they mature.
L > k eii Valley. Owns from MUlersbnrg, Pa., to Williamstown, Pa..
Fiscal year ends Dec. 31. Earnings, expenses aud charges have been 20 miles branch, 1 mile total operated, 21 miles.
It Is a coal road
as follows
eased and operated, by the Northern Central Railroad since July, 1838,
;
:
;
84
3
LNYESTOKS'
s
SUPPLEMENT.
rw^i
Za^JfJ*
MAP OP THE
LOUISVILLE,
ANEW ALBANY & CHICAGO
RAILWAY
RAILROAD STOCKS AND BONDS.
JULY, 1890.)
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INTESTORS'
SUPPLEMENT.
[VOL.
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I-*
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immolate
[VOL. LI.
notice of any erior discovered In these Tables.
JULY, 1890.]
RAILROAD STOCKS AND BONDS.
INVESTORS' SUPPLEMENT.
IVOL.
u.
JULY,
RAIDROAD STOCKS AND BUNDS.
1890. J
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RAILWAY & CONNECTIONS
\-,
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KAILKOAD STOCKS AND BONDS.
JULY, 1890.]
Subscriber* will confer a great tkror by firing Immediate notice at any error dUeorere* la thnme Table*.
RAILROADS.
ENVESTOP.3'
94
SUPPLEMENT.
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J
KAILKOAD STOCKS 'AND BONDS.
96
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MAP OF THE
MISSOURI,
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RAILWAY.
JULY,
RAILROAD STOCKS AND BONDS.
1890.J
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7
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MAP OF THE
_
MOBILE & OHIO
RAILROAD
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(ARK
[VOL. Li
JULY,
1890.
RAILROAD STOCKS AND BONDS.
J
Subscribers
-will
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lmm<J
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SUPPLEMENT.
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MONTEREY
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KAILKOAD STOCKS AND BONDS.
JCLY, 1890.]
will confer a great favor by giving Immediate notice ol any
iii>*crlber<i
RAILROADS.
or explanation ol
on
column headings,
first
Mlli-s
Ac., see notes
d Hudsonlift mortgage .......... .........0
euark Somerset it Slraitm. 1st M., ext. In '89.0*
matrurg Dutches* it Connecticut Income bonds.. r
Castle
eu,
Heaver Valley Stock ..................
2d mort, (now lst),guar ...... e"
<t
cwHav. dDerbv
Kiniili
M., for $800.000, guaranteed ............ c*
(;<>ll]>ou certificates .......................
il
8t'k,gutir.y9yrs.N.Y.N.H.AIl.
*
\<>rlhamp
1st
nil rt
Holy
i,';itr<
1
.......... - .......................... c
& 2d M.,
1*200,000 gu.).o'
Mink, mill $15,OOO per yr. not drawn o*
111 Extension ..............................
,t
W.. leased. 1st
Par
94
6
44
I'."
.
,
mortgage ..... .. .................. -------- .....
cC Wan.Beach
N.Y.A M. B. 1st M..O
..
..
.i
N.Y.B.*M.B., 1st oonsol. M., gold, guar.by L.I..O*
1st M., ster.,guar. D.AH. Can..o*
r. d Canada
m> fork Central if Hudson River Stock ..........
Debt certificates (N. Y. Central) ext. 10 y'rs, '83..
N. Y. C. & II., } $30,000,000 i cc
omino _ or Ttttr J
r6K )
2,000,000 5
)
mortgage
e&r
Debentures (to be Incl. in any new moit.)
p. f. not dm.. car
Debentures for $iri,000,000 g..
1st
.
.
c
.
.
.
'
. . .
1
in-.
$1,000
137
92
17
"27
All.
150
,421
840
840
1,000'
'ibo
1,000
1,000
1,000
1,000
1,000
1,000
500*0.
ms
2,460,OOO
1,300,000
1870
1879
1881
1886
1880
1885
500
1872
1880
*<,.
1880
1,000
1885
1,000
1881
1877 SOO'A'O.
1885
1,000.
1874 4100*c
100
1853 500 &c.
1873
1,000
1873
l.OOO
1884-9 l.OOOAc
1890 1,000*0
ail?
1887-88.
$
$
$
604,820
1,429,468
153,821
725,961
1,894,715
153,572
834,823
2,102,956
153,874
809,627
2,277,119
213,418
2,188,109
1,322,858
2,774,248
1,578,611
3,091,653
1,770,249
3,300,165
1,951,444
865,251 1,195,637
INCOME ACCOUNT.
1.321,404
1,348,721
express, rents, Ac..
Total gross earnings
>tal
operating expenses.
Net earnings.
1885-86.
1886-87.
1887-88.
1888-89.
Mai net Income
865,251
1,209,082
1,321,404
1,348,721
DUburiementt
terest on debt
675,096
709,834
760,834
869,096
& taxes.
Ivldenda
45,221
aproveuients
(4)266,741 (4)266,741 (5)333,426
119,480
145,015
60,903
Total disbursements.
720,317 1,096,055 1,172,590 1,264,025
144,934
113,027
148,814
84,696
dance, surplus
(V. 47, B. 81, 227, 35^, 353, 473, 594, 775; V. 48, p. 527, 662, 764,
206. 341, 371. 471, 503, 690, 793; V. 50, p. 107, 245,
19; V. 49, p. 83,
V. 51, p. 22.)
,3, 391. 560, 735, 771, 874
Decatnr. (See Map Louisville <e NashviUe.) Owne
Va*uvllle
to Decatur, Ala., 119 miles. The road was
om Nashville, Teun.,
ued May 4, 1871, to the Louisv. A Nashv. RR. for 30 years from
of 6 per cent per annum on the stock. The
ily 1, 1872, at a rental
isee assumed all the debt of the Nashville & Decatur Co. and owns
In 1887-88 grogs earnings, $1,294,800; net,
141,300 of its stock.
In year
[73,450; surplus over interest and dividends, $182,123.
idlng June SO, 1889, gross earnings were $1,295,379; net, $435,476.
Lou. it Nash.) -Owns
Sheffield. (See Map
Nashville Florence
oin Columbia. Cenn., Co Florence, Ala., 79 miles, with branch Iron
12 miles, and has trackage, Florence
ty, Tenn., to Plnckney, Tenn.,
Sheffield (Mem. & Char. RR.), 6 miles; total 97 miles. Operated by
misville & Nashville, which company guarantees the principal and
terest of the bonds by endorsement, and owns $615,0(0 of the $708,5 stock, par $100. In 1889 gross earnings were $194,935
net,
4,837; Interest and taxes, $86,292 ; deficit, $86,454. President, M.
Smith, Louisville, Ky.
NanlivilliKnoxvllle. Owns from Lebanon to Cookville,
miles In operation; aid under construction to Glen Alice oil tin. So.
R.
Stock is $500,000; par 100. Trustee of mortgage. Mercantile
ust Co. of New York. A. L. Crawford, New Castle. Penn.
Naneatnck. Owns from Naugatuck Junction to Winsted, Conn.,
>* miles; leased. Watertown * Waterbury RR., 419 miles; total opered,61uillee. Leased for 99 years from April 1, 1887, loN.Y, N. H. &
at $206.000 per year. In year ending Sept. 30.'87, gross earns, were
In 1885-86, gross, $704.336; net, $221,522.
'85,928; net, $246,604.
;
A
&
;
*
i
.
XecquehoiiluK Valley. Owns from Nesquehoning Junction,
Pa.,
Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansforcl,
1 mile total operated, 18 miles. Leased for 999 years to the Le-
i..
1,200,000
700,000
7OO.WIO
1,700,000
40O.O(K)
387,500
1,112,000
13,692,100
1,000,000
1,010,000
5,000,000
500,000
845,000
4,OOO,OOO
89,428,300
6,450,000
30,000,000
9,733,333
11,000,000
6,000.000
ttancu
Prtaei-
*
*
*
J.
I'imn
Ultlit.
8.
N. Y. L.E.AW. KR.
N. N. Y.. Union Trust Co.
When earned.
A
N.
Newcastle. Penn.
Ot , Oftlo*.
N.Y.,Hon. RK.AB'g*Pt
New
Haven.
J.
A.
A.
A.
July 2, 1088
H'-I>t. 1,
Nov.
1(M>1
1929
1977
July
1890
Feb.
190O
1918
May
Feb.
1900
April, 1890
Jan.. 1899
Apr.l'91A'9e
April, 1. 1900
April, 1911
July 1. 1890
r. u l, 1986
May 1, 1910
Jan. 1. 1986
Juij "I. 1890
July, 1892
July, 1910
June
Nov.
Nov.
1.
1,
1,
1,
1,
1,
1,
1,
1936
1910
Jan., 1911
Jan.
1.
1897
Oct. 1, 1930
May
1,
19O4
July 15, 1890
189*
Jan.
1903
Jan.
1903
1904
Sept.
June 1,1905
May
1,
1,
1,
1,
New
1888-89.
1886-87.
relght
tbre Table*.
do
* J.
do
A O. X.Hav .N.TradwmVsBk
6
A O.
do
do
B
A O.
do
do
J. A J.
do
I
do
F. A A. N. Y. Ont. A Hud. Rlv.
6
M. A N. N.Y., Mercantile Tr. Co.
5
J. A J.
do
do
New ix>mlon, Office.
Q.-J.
J. A D. N. Y., B'k of N.America
4*5 J. A J.
do
dn
"e'g. M/A N. Ma.r,'89,la*t coup.pald.
A. A O. N.
Central Trust Co.
s* J. A J. Y.,
7
J. A J. N.Y.Corbln IlankingCo.
do
do
S- A. A O. London. Baring Bro.
eg. I. A N.
Q.-J. N.Y., Or. Central Depot.
M. A N.
5
do
do
J. A J
do
do
J. A J.
London, Union Bank.
8* M. A 8. N.Y., Gr. Centfl Depot.
do
do
IK- J. A D.
6A7
100.000
1,500,000
l.OOO
M.
50o.
2tiO,O<X)
Yob
In
DIVIDENDS.
V. A. A. Rrtdgeport,
6
480,000
1*869
M.
M.
Q.-J.
7
5
575,11110
1885-86.
iwenger.
3
.
l.H-N
100
66
196
196
14
*
:>R
When Where Payable, and by
whom.
P*j-ole
J.
HOO.OUO
1,104,500
700.000
1870
IHHIi
B
34
34
121
1OO
121
i-i't.
l.OOO
"bo
"15
13
13
Bate per
$760,000
500 Ac.
EAKMSI.S AND EXPENSES.
turning*
Amount
OlllHl. llllllllg
1877
l
1
convertible into stock .................... o
1st M. , guar. by N. Y.Cent.c&r
eta Jersey Junction
1st M. (reorganization), o*
ev> Jersey <t ffew York
...................... r
2 tl mortgage..... .....
etuLoniton northern Stock
2d mortgage
"
Consol mortgage ($300,000 are 4s) .............
ewporl Xeu-s <f Mississippi Valley Stock ..........
"
no Orleans <t Qulf 1st confcol. mort gold ...... e
Prior lien mort....c*
ev> Orleans it North Eastern
Bond
1HKH
1871
18H9
en or discovered
INTEREST
Size, or
of
Koad. Bonds V
page of tables.
evada Central-let M..g., Income (sinking fund*..
eutark
Date
of
101
;
& Navigation Co. In Sept., 1884. the lease was modified so as to
5 per cent a year only, and the option to purchase the stock at
JT and interest was suspended for 20 years, with a guarantee of 5 per
nt per annum on stock.
Nevada Central. Battle Mountain to Austin, 94 miles. Stock,
50,000; par $100. Road sold in foreclosure June 21, 1867. Above
nds were issued In exchange for $750,000 old It-ts. Gross earnings
1889, $45,506; deficit under operating expenses and taxes, $7,662.
**.tz*
Hfe
XI SHU
[V. 45, p. 672, 743.) j l ii*. * Jte,
ewark &. Hudson. Owns from Kereen Junction to Newark,
Leased to New York Livue terie A Western at a rental
J., 6 miles.
$17,500 per annum, which pays interest on bonds. In 1887 gross
8,519; net, $22,700. Cortlandt Parker, President, Newark. N. J.
Newark Somerset <k Straitnvllle. Owns from Newark, O., tc
lawnee. O., 44 miles. Road was completed in 1871. Leased to Haitiore A Ohio (in perpetuity at B. & O.'s option), which Co. pays 30 per
nt of gross earnings, and guarantees minimum rental of $56,000
itereet on debt), but for an; advance to pay this minimum B. * O. Is
titled to relmliurpement from the receipts of any subsequent year.
ock. common, $795,400, and preferred, $218.200 (par both, *50),
'05,550 of the first anil $191,850 of the latter, being owned by Ba t.
O. In 1S88-S9 gross
earnings were $226,150; net, $37,to lessee, $37,762. In 1887-88 gross earnings were
'5; loss
41,461; net, $13,101 loss to lessee, $65,380. (V. 49, p. 616.)
Vewburg Outclie& Connecticut. Owns from Dutchess June.
sh Coal
,y
;
Y., to Millertou, N. Y., 59 miles. The Dutchess * Col. RR. was sold
1876, and this company was organized Jan. 8, 1877, by the pur
asing bondholders. Iii adoition to above incomes, there are $150,000
t mort. 7s, due In 1907.
In year end. Sept. 30, 1889, gross earn, were
ig. 5.
83,805; net, $i8,063; surplus over interest. $27,011. In 1887-88,
OM, $175,138; net, *24,877; surplus over flxed charges, $13,477.
16 common stock is $500,000 and preferred stock $587,450; pur $50.
hn 8. Schultze, President, 59 Wail St., N. Y. City, (V. 47, p. 626.)
CaMtle Sc Beaver Valley. Owns from Horaewood. Pa., to
Pa., 15 miles. Leased to Pittsb. Ft. W. A Chic. RR. for 99'
years at a rental of 40 per cent of giofs earnings, and lease assumed by
Pennsylvania Company. Suit to recover $309,23 1 claimed to bo due
from lessees was instituted it Apr 1, 1890. In 1879.13 per cent dividends were paid; In 188O, 13 p. o.; in 1881, 24 p. c.; in 1882, 14 p. o,!
in 1883, 29 p. c; in 1884, 19 p. o.-, in 1885, 10 p. c ; In 1886 and 1887,
6 p. o. each; In 1888, 10 p. o.; in 1839, 10 p. o; in 1890. Jan.. 2>; April,
2*a; July, 3. Gross earnings In 1889. $246,705; net, $116,298 rental
received, $98,682. Gross in, 1888. $237,537.
Haven Derby. Owns from New Haven, Conn., to Amwnla,
Conn., 13 miles, and extension to the Housatonio RR. at Huntlngton,
4 miles. Leased to the Housatoulc for 99 years from July 9, 1839, tho
rental being guaranty of principal and Interest of bonds and funded
coupon certificates, and 2 per cent on stock till after July, 1892, then
3 per rent till after July, 1 895, and 4 per cent thereafter. Dh idends
are paid directly to stockholders in semi-annual instalments Jan. 10
and July 10. Stock is $170,000; i>ar $100. In 1888-89, gross earnings
were $191,726; net, $94,513; surplus over Interest audtaies, $5,213.
-(V. 48, p. 828; V49,. p. 52, 857.)
Haven Ic Northampton. Operated from New Haven,
Conn., to Couwav Junction, Mass.. 95 miles; branches Northampton to
Williamnburg, 7 miles; i imnimiton Conn., to New Hartford.Conn., 14
miles South Deerfleld to Turner's Falls, 10 miles; to Tarlffvllle, Conn.,
1 mile; leases Holyoke <fe Westfleld RR.. 10 miles; total, 137 mile*.
In June, 1887, the road was leased for 99 years to the N. Y. N. H. A II.
at 1 per cent on stock till 1890; then 2 till 1893; then 3 till April,
In 1886-7, gross income, $825,232; net,
1896, and 4 afterward.
$121,982; deficit under interest, $115,974.
Jercejr Junction. Terminal road through Jersey City, Hoboken and Weehawken, connecting the trunk lines terminating at those
points; length about 5 miles. Leased for 100 years from June 30, '86,
to the N. Y. Central * II. K. RR. Co., which company guarantees the
bonds absolutely and owns the stock ($100,000) of the company. The
mortgage Is for $4,000,000.
New Castle,
;
New
&
New
;
New
New
New
Yorh. Owns from Erie Junction, N. J., to
Jemcy Sc
Garnerville, N. Y., 29 miles; branches to New City, e!o , 5 miles; operates
to Haverstraw. etc., 4 miles; total operated, 38 miles. The present company was formed on reorganization after foreclosure in "April, 188O.
Stock outstanding, $1,440,800 common; $787,800 preferred par $100.
Control of road is with preferred stock and first mortgage bonds till 8
per cent dividends have been paid on preferred stock for three years.
Gross earnings in year endiug Sept. 30, 1889, $236,55!); expenoe*,
162,039; net earnings, $74,519; def. under charges $3,607. Henry
W. De Forest, Pres't.
;
New London Northern. Owns from New Ixnulon, Conn., to
Brattleboro. Vt., 121 miles. Leased till Deo. 1, 1891. to '.he Central
Vermont, the rental being $150,000 per year, and $15,OOO for each additional $100,000 of earnings over J510,OOO per year. Dividends since
1876 have been In 1877,6% per cent; from 1878 to 1886, inclusive,
6; in 1887, 6H>; in 1888 and since at rate of l\ p.c quarterly. In 1888-9
:
company received
r.-ntal, Ac., $241,987; paid interest, etc
$89.839,
dividend (7 per cent), $105,000; improvements, etc.. $69,941. (V. 50,
p. 314, 708.)
,
New
Orleaii* ic Gnlf. Road from New Orleans south along the
making 66 miles in all.
Default was made on coupon due Nov. 1, 1889, and In April, 1890,
Mr. M. R Spellman was appointed receiver. Capital stock authorized,
$300,OOO; Issued, $241,3OO. From Jan. 1 to May 31.1890(5 mos.),
gross earnings were $63,863, against $69,669 In 1889; net, $5,413,
against $5,983. In year ending Jan. 31, 1-.IO. irroas earnings were
$181.365; net, $2H,650; deficit under interest, $2^,609, against $53,217 in 1888-S9. (V. 49, p. 680; V. 50, p. 662.)
Mississippi River to Bohemia, with a branch,
New
&
Orleans North Eastern.- (See 3fap Oin. If. O. <f T. P.I
Line of road from Mew Orleans, La., to Meridian, Miss., 196 mile*. Stock
is $5,000,000.
This road belongs to the "Erlanger System," and $4,320,000 of the stock and $4.900,OOO of the $5,000,000 first mortgage
bonds arc held by the Ala. N. O. A Texas Pacino Junction R'ys Co. Lta.
From July 1, 1889, to May 31, 1890, (11 months) gross earnings were
$',103,263, against $908,883 in 1S88 89; net,$311,OOO, against $174
532. In 1888 gross earnings were $900,340: net, $157,738
deficit
under all charges in 18 38, $190,505, against $2^5,214 In 1887. (dee
title of Alabama New Orleans A Texas Pacific Junction.)
,
;
&
Ifllaa. Valley. This company was formed
Newport News
under the laws of Connecticut to lease and operate all the Huntingdon
between Newport News, Va., and Memphis, Tenn. On Jan. 1., 1890,
the company owned $5,708,700 Cues. Ohio & Southwestern common,
and $3,511,600 preferred stock; $1,055,500 Ellzabethtown Lexington A Big Sandy Railroad stock; $3,511,600 Cues. A Ohio common, $244,736 1st preferred and $1.526,000 2d preferred stock.
Company leases the first two of these roads, aggregating 531 milea,
the former for 50 years and the latter for 250 years, agreeing to
pay flxed charges so far as net earnings suffice, any surplus up to 6
per cent to bo divided to lessor companies, and ttie excess retained by
the lessee. Central Pacific owns $1.680,000 of the stock. Offices of
Co., No. 23 Broad St. and New Haven, Conn. (V. 48, p. 589 V. 50.
lines
;
p. 559.)
10*
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I C
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MAP OF THE
SAN ANTONIO
<^X
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129
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EXTENSION RAILROAD^
AND CONNECTIONS.
S\
It
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.
1
10
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141
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144
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For explanation of column headings, 4o., nee notes
on
first
page of
tables.
p. o. "special"...
Ifat Jersey Stock, 8122,250 is
oIBI M. oum. sink, f (1. 812,600 yearly, not drn
c*
consolidated mort
1st
.r
Consolidated mortgage
RR. tind s-.ilem RR bonds
0*
Ocean City
......
Bwertesboro RR. bi-nds
*o
Woo.Ustown A Bwedesboro, 1st mort.
Weil Jeney <t Atlantic Stock
M. Newfleld to Atlun. C.,33 m.,drn at 100.o4r
1st
Pleasantville <fe Ocean City, 1st mort
c*r
Wat K/iin-e 1st M., guar. by N.Y.C.4 Had.,
Stock
If. Viruinia Cent. <t I'itli.
1st M.,g., ($25,OOO p. m)
c"
1st M. s. f. not drawn. g..o*
Weil Virginia it I'ilti
o
Wttl'n (AUt.)2A M. Kiiar. Cen. Ga. and Qa.
Consol. M.. gold, guar. by Cent. Q a. and Oa. RR..O*
Western Maryland 1st & 2d pref. Ms. (1st in. eud'd)
3d M., endorsed by Baltimore
4th imirt. City of Baltimore stock
...
8th mort, heH by City of Baltimore, s. fd
Baltimore & Harrtsburg RR., three let morts
Mort. (for $B90,OOO>.
c*
1st M.West. Ext., KU. by mdora.<$16,OOOp.m.).o*
West. Maryland Tidewater let M. for $4,000,000.
Walern If. I. <t PiH*y(t>aia Stock ($30,000,000)
1st mortgage ($10,000,000), gold
O*
2d mortgage (1st on equipment, etc.), gold
o*
do deb.inc.,non-oum.,red. at 100 alter 20 yrs.
do Income scrip, red. at option
Warren 4 Franklin, 1st mortgage
,
RR
,
OWNED EAST OF
MISS. RIVER.
Miles
of
Date
of
Par
Road
Bonds
Valiiti.
222
88
63
128
1866
500A..-.
1HC1I
SIX) ,Vc.
1879
500 Ac.
11
11
1868
1882
40
33
50
1880
1,000
1880 100 Ac.
1885 1.000AM10O
1881
1,000
448
129
96
1H!)0
Camp Pt. and Elvaston, 111,
Deeatur, III, to E.Sr. Louis..
June, near Chicago to Effing-
ham and Altamont, 111
535
110
217
Btreator to Fairbury.
31
Edwardsville to Edwardsvllle Crossing, IU
8
Delrey.near Detroit, to Butler 110
LEASED EAST OF MISS. RIVER.
Eel River RR., Butler to Lo94
gausport, Ind
Total covered by 2d mort. .1,105
Size, or
wo
82
15
IHHIi
18H8
1,000
(>30
1887
1887
OWNED WEST OF
1865
2>
M.
4
J.
J.
5,880,000
1
,
.
J.
3,OOO,000
1,171,000
372,000
A.
New York.
April
N.Y.Kler4Co.54WaU Oat
\.
8
do
A.
.
do
J.
J.
34
207,000
483.000
240.OOO
199O
189O
A
J.
6
1,
1,
0.-t. 1. 1!IIH
li'.IO
1X115
I.
6
875.000
1,000,000
1,8OO,OOO
1
Bait., N.
Mechanics' B'l Jan., 1900
do
do
Jan. 1. 1903
do
do
Jan. 1, 1927
H ilt. Company's Offices. 1892/9* 4 -TO
A J.
4 J.
Various
M. A N.
M. A N.
.1.1
i
Nor.
.lo
it.
May
1, Itt3
1. 1038
1940
ffl
19,730,444
8,950,000
J.
A.
A.
A.
19,805,33:1
334.OOO
1 453,i89
800,000
F.
*
4
A
&
4
J. N. Y., Bk. of New York. Jan.
O. Paid 2 Hi scrip Apr., '90 Oct.
None
None
O,
1.
1,
1937
1927
paid.
A Her 2O yew*
O.
p;.!il.
A. N. Y. Office. 35 Wall
St.
Fab. 1,
Ware
Moberly to Ottnmwa,
131
1
1
16
Salisbury to Glasgow, Mo....
LEASED WEST OF HISS. RIVER.
Brunswick to Pattousb'g, Mo.
80
Centralta to Columbia, Mo...
21
533
oovVdby 1st 4 deb. M.. 1,638
8 short pieces Into Quincy,
Detroit, etc
OperaVd for Purchasing Com.
Maysv. to Plttsfleld (leased) . .
Dividend.
1
6
2,2 50.OOO
500 Ac.
275
TRACKAGE. ETC.
Laketon June, to Chicago
K.
M.
M.
50,OO<I,<)OO
"ioo
1,000
1,000
Miles
Tot.own'a&leiw'dW.ofMiss.
by
Omoe,2338o.4tb Mar. 13. 1S9O
"do
do
Jan., IBM
.1,)
do
Oct.. 1899
MOT. 1. 1909
do
:!!- .V
do
.,
do
do
May 1. 1!H3
Phil. Offlre, 233 So. 1th. Mar. 15, 189O
Phila., fidelity I.T. Co. 8epi 1, 1910
Phlla., Penn. RR. omo. July 1, 1910
N. Y (Ir'd Cent. Depot Jan. 1. 2381
Bait CO.'H Office.
March 5, 1890*
N'.Y.,I. II Davis 4 Bait.
Jurjr 1, 1911
7
6
i.,i,i.-..
8. Phlla..
M.
448
6
l.OOO
1,000
MIB8. RIVER.
Mo
a
4
J.
A.
H:. 2. ft.vi
630
SO
M.
6
2:10,000
HO.IHIO
1,000
1,000
1,000
SOOAc.
Whom.
Payable
7
200,000
JO ...MM,
90,000
1890
670
630
Ont.
7r,o.(H)<)
thee
INTEREST OH DIVIDKNDH.
per! When Where Parable, and
Rate
*J,134,850
1,000.000
1,000,000
1,000
100 Ac
St. Louts to near Kansas City.
St. L. Levee to Ferguson. Mo.
Tot.
Amount
Outstanding
iss 1870
138 1888
90 IH&fiK
90 1870 5OO Ac.
90 1872
90 1887
Miles
Toledo, O., to East Hannibal,
147
128
83
70
The following Is a statement of
6
lines owned and leased west of the
Grand total operated
Mississippi and of trackage, Ac.
1,920
HISTORY, ORGANIZATION, Ac. The Wabash St. Louis 4 Pacific was
formed Nov. 7, 1879. by a consolidation of the Wabnsh Railway and
the 8t. L. K. C. & N. RR. In 1883 the road was lea< d to the Iron. Mt.
In May, 1884, receivers were appointed. Litigation followed and the
lines west of the Mississippi were organized in March, 1887, as the
Wabash Western. Reorganization was finally effected nnder the plan
dated Nov. 21, 1887, embodying parts of the old plan of July 15. 1885.
Klver. Palmer, Mass., to Winchendon, Mass., 49 mile*. It
leased for 999 years to the Boston 4 Albany Railroad at a rental ol 7
per cent per annum. J. A. Rumrill. President, Springfield, Maw.
Is
Warren. N. J. Line of road. New Hampton Junction to Delaware
Bridge, N. J., IH '4 miles. The road Is leased In perpetuity to Delaware
Lackawanna 4 Western at 7 per cent on stock and bonds. John I.
Blair, President,
Blatntown, N.
Washington
*
Went JerneT. Main line and branches Camden to Gape May
Bridgeton. Rlddleton, Sea Isle, Ocean City, Ac., 179 miles; West Jereey
Atlantic Railroad., 40 miles total, 222 miles operated.
Sinking fund of $12.500 vearly lor bonds of 1896 is Invested in company's bonds and $663,100 were to held Feb. 1, 1890.
Dividends since 1830 have been : In 1881, 4; from 1882 to 1884, Inclusive. 3 and 3 scrip; from 1885 to 1887, Inclusive, 6; In 1888, O^;
In 1889, 7; in 1890, March 15, 3Vl.
From Jan. 1 to May 31, 1890 (5 months) gross earnings were
$555,987, against $496,834 in 1869; net, $133,693, against $98\696.
The annual report for 1889 was published In the CHRONICLE, V. 80,
p. 350. Income account has been as follows:
4
;
INCOME ACCOUNT.
An outline of the
principal features of this plan was published. In the
INVESTORS' SUPPLEMENT up to January, 18S9. The Chicago Division
was foreclosed March 11 and the otner lines on May 15, 1889, and on
July 29. 1889, a consolidation was perfected with the W&jash Western
under the new title of " The Wabash Railroad Company." The followJames r'. Joy, Ossian D. Ashley, Thomas H.
ing are the Directors
Hubbard, Edgar T. Welles. Sidney Dillon. James F. How, Charles M.
Hays, George J. Gould, 8. C. Reynolds, John T. Terry, Russell gage,
Henry K. McHarg, Cyrus J. Lawrence. Officers: Ossian
Ashlej , Preiident; Edgar T. Welles. Vice President ; James F. How, Vice-Presideut
and Treas.; C. M. Hays, Gfneial Manager, and J. C. Otteson, Secretary.
The Boone Co.
Boonevllle RR. is leased till May, 1973. The Brunswick 4 ChilliootLe was leased to St. L. K. C. 4 Nor. for 999 years. Its
bonds bear 6 per cent interest till Aug. 1, 1900, then 8 per cent till
maturity. On April 1, 1887, the Eel River RR. was leased for 99 years
(see that company.)
STOCKS AND BONDS. The capital stock is $52,000,000, of which
$24,000,000 is pref., having a preference of 7 per cent per annum
non-cumulative, and $28,000,000 is common; par both, $100. Abstracts
of all the mortgages were published in the CHRONICLE, V. 49, pp.
270-273. The first mortgage covers lines both east and west of the
Mississippi, and enough tonds are retained to retire the prior liens on
roads west
but the second mortgage covers only lines east of the
river. Of the debenture mortgage bonds $3,500,000 are series A (pre:
D
4
;
J.
Point E,ookont.
ITyattsville, Md., te
Shepherd, Md., 13 miles. This road was opened In 1873. Leased in perpetuity to the Baltimore 4 Ohio for $36,OOO gold per annum, being Inter, st. on debt (assumed by B. 4 O.), and $3,600 for an accumulative
sinking fund-no drawings. The stock paid In la $1,OOO,OOO.
City
1887.
1886.
492.958
20,857
513,815
529,250
455,072
41,745
180,174
90,081
89.140
6 p. c.
39,154
182.343
90,652
89,142
6 p. 0.
31,397
175,174
82,836
138,082
30.S6O
175,000
43,573
143,217
6>a p. e.
7P.C.
401,140
123,484
401,291
112,524
427,489
101,761
397,15057,92
503,274
21,350
524,624
427.099
27,973
9
Interest on West Jer. debt..
Net earu.of W.J.4A.RR..40
Dividends
Rate of dividend
Total disbursements....
Balance, surplus
-(V. 45, p. 473, 614; V. 46.
Went Jerey
1,526,169
1,469,215
Total Income
1889.
9
1,556,033
501,902
27,348
1,352,458
Disbursement!
Rentals paid
1888.
$
9
Receipt*
Gross earnings
Set earnings
Other receipts
Sc.
p.
509 V. 48, p. 526; V. 50, p. 350.>
Owns Newfleld, N. J., to Atlantic CltT
191,
Atlantic.
;
Pleasantvllle 4 Ocean City RR., 7 miles total, 40 mlle
17, 1880, and operated by West Jersey Railroad on a
agreement and 25 per cent of gross receipts on West
Jersey from traffic of this road to be applied to any deficit In interest
nd then as sinking fund for bonds purchasable at 1O5, or drawn at
100,11 over 105. In 1887 net earnings were $78,456; in 1888, f82,787:
In 1869, $43,573. (V. 48, p. 291 V. 50, p. 313.)
N.
J., a:i
miles
;
;
Opened June
{pint traffic
;
Iv;l5; of preferred in 1890 to July 18, inclusive, 25 a 3m.
Oi'EKATioKS, EARNINGS, Ac. The annual interest charge on the flrst
and second mort gages will be about $2,615,000, and the debentures
call for $1,800,000 per year when earned (but not cumulative),
making
the charges ahead of preferred stock about $1,415,OOO.
From July 1,1889, to May 31, 1890 (11 months), gross earnings were
$12,375,887. against $11,554,566 In 1888-89; net earnings, $3,501,098,
against $2,575.022.
Fiscal year .-hanged to end June 30. For six months ending Dec. 31,
1889 gross earnings were *7 ,272,689; net earnings, $2,288,515; rentals
receved, $131,716; total net, $2,420,231; paid Interest on firsts and
seconds (of which $277,159 was for accrued Interest to Julv 1),
$1,5,40,195; rentals. $254,966; taxes, $198.414; sundry acco'uuts,
(33,178; Interest on debentures, $105,000; total payments, $2,131,753;
balance, surplus, $288.478. While the receipts for the second half of the
nscal year will i.ot aggregate as much, the payments will also be less.
The earnings and income account for the past two calendar years of
the lines east of the
Mississippi River operated by the Receiver, and of
1 the lines
operated by the Wabash Western were as follows :
/-Unes east of Miss. K. >
Wabash Western.
1887.
18S8.
1887.
1888.
Gross earnings
$6,902,109 $6,553,362 $6,518,062 $5,779,583
Operating expenses
4,784,359 5,380,188 4,680,121 4,398,392
Inclusive,
.
Net earnings
Other income
$2,117,750 $1,173,174 $1,837,938 $1,331.191
7,282
7,980
52,980
106,922
Total net Income
$2,125,032 $1,181, 154 $1,890.918 $1.488.113
592,357
Taxes,r'nt8,cartru8t8,4o.
653,268
394,006
419,231
Int.
Balance
$1,532,675
on bonds and rentals
Surplus
$527,884 $1,496,912 $1,068,882
916,738
925,497
$1,532,675 $527,884 $580,174 $143,385
23, 145, 236, 270, 301, 403, 435, 654, 690, 789; V. 50, p. 71,
(V. 49, p.
139, 392 ; V. 50, p. 792.)
Went Snore.
Line of road from Weehawken, N. J., opposite N. T.
Olty, to Buffalo, N.Y., with branches to Albany City and Rochester City,
about 448 mi le, in all. This company was organized in December, 1885.
as successor to the N. Y. West Shore & Buffalo, sold In foreclosure.
A lease of the West Shore property to the New York Central 4 Hudaom
Company for 475 years was executed In compliance with the plan of
reorganization in 1885. The $10,000.000 of stock is owned by the New
York Central Company in consideration of that company's guarantee
of the principal and Interest of the $50,000,000 of new bonds. The mort
gage is made to the Union Trust Co., as trustee, and covers the line of
road. Weehawken to Buffalo with branches. 448 miles in all, and also
the terminals at Weehawken by ownership of all the stock and bonds of
the Terminal Company. The guarantee of the N. Y. Cent. 4 Hudson*
Is absolute as to Interest and principal and Is endorsed on each bond.
Went Va. Central & PlttMburg A
/(Test
Virginia in the upper
coal and railroad company In
Potomac region the Elk Garden Coal Field.
Owns road In operation from junction near Piedmont,
Randolph Co., W. Va., 84 miles: tranches to Minevllle,
19m.
W.Va., to Elklns,
ElkGardcn. etc
,
4 Cumberland RR., Piedmont to Cumberland,
total operated, 133m. Owns 32,244 acres of coal and lumber lands
Leases Piedmont
29m.:
covered by the first mortg., and has mineral rights on 5,407 acres mere.
Dividends In 1889, 1 per cent; In 189D. March, 1.
From Jan. 1 to May 31, 1890 (5 months), gross earnings were
$344,901. against $291,705; net. $116,510, against $86,085.
In 1888 net profits (coal and RR.) were $181.764; surplus over fixed
charges, $36,878. In 1889, net profits on coai sales, $105,OL7; net from
total net revenue, $214,584; interest paid,
railroad. $109,567;
$122,414; surplus, $92,170. H. G. Davis. Baltimore, President. (V.
46, p. 480,610; V. 48, p. 129; V. 50, p. 873 )
:
&
AVesl Virginia
Plttsbnrg. -Under oonotiuctlon from Clarksburg, West Va.,on the Bait. 4 Ohio, via Weston, Braxton Court House.
Buckhannon, etc., to Nicholas Co., West Va., about 175 miles. Leased
for 99 years for 37" per cent of gross earnings to the Bait. 4 Ohio,
which guarantees any interest on the bonds not met by rental.
INVESTORS'
148
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RAILROADS.
1
JCLY. 1690.1
RAILROAD, CANAL
AND MISCELLANEOUS STOCKS AND BONDS
119
INVESTORS'
130
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MISCELLANEOUS.
:
.
JULY, 1600.]
.
I
i
MISCELLANEOUS STOCKS AND BONDS.
131
INVESTORS'
109
Subucrlbers will confer a great favor by x
MISCELLANEOUS.
SUPPLEMENT.
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[VOL. LI.
tlicnc
Table*.
JLY,
MISCELLANEOUS STOCKS AND BONDS.
1890.J
Subscriber* will
oitfer
133
great lavor by K lvln- Immediate notice of any error discovered In theae Table..
MISCELLANEOUS.
SUPPLEMENT.
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194
[VOL. LI.
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For explanation of column headings, Ac., see notes on
page of tables.
first
Terminal RR Afsocialion
.
St. L. B'dge & & T. E R. 1st oref stcek, guaranteed
. ....
...
.... ...
2d preferred stock, vuar
1st M, St. Louis B ridge & Tunnel Co
Tonnel UK. of Ht. Louis, stock, guar
Date Size, or
Par
of
Bonds Value.
$100
IIHI
o*
Consol. mortgage, gold
lexai Pae. Land fru*<.--'Certlflcates of proprietary Int."
Vn'led Stattt Expreii Stock
Wet i, Forgot Company Exprett Stock
Wutem Cnion Telegraph Stock
Keal estate bds.,g.,(lien ouW.U.Bldg.,N.Y.C.) 8. (.(not dr.)
c ,t r
.
Debentures (If. drawn surrender is optional)
c
Debentures, sinking fund 1 p. ct., drawn at 100
c*
Collateral Trust bonds
Wheeling Bridge A Ter. R'y 1st M. for $2,000,000, gold.o*
Whitetireasl Fuel Stock
Gen. M., (now 1st) p.. s. f., $30,000, dr'n at 110... c" & r
1,000
1872
1875
1875
1888
1880
1,000
1,000
JBlOOAe
1.000
1,000
18S8
1,000
100
1887-8.
1888-9.
5,621,018
819,91 4
6,259,371
1,250,383
6,825,955
1,477,341
6,440.932
7,509.754
1886-7.
$
.
Totalrevenue ....................
Disbursements
Operating expenses ..................
Paid other sleeping-car associations.
$
!
disbursements...
8,303,296
$
$
2,224,807
969,896
Rentals of It ased lines ................
66,000
159,150
Coupon Interest on bonds ............
nividends on capital stock ........... 1,274,176
210,018
'pairs of cars in excess of mileage.
ingency account .........................
3,070,779
920,906
2,506,584
1,045,398
................
132,450
1,510,890
198,870
100,000
79,527
1,795,638
84,915
100,000
4,904,047 5,494,192 6,051,765
1,536,885 2,015,562 2,251,531
V. 48, p. 128, 222, 260, 420, 530; V. 49. p. 511, 538.)
.
:*. ............................
Mining. Owns quicksilver mines at New Almaden,
ilxStock Is entitled to 7 per ot. per annum, not cumu3 ;'' f oes to tne common and preferred equally. Bee
no*
.
188*',-, i.8>-89 in V. 4P, p. 50, showing net income applioaTS9, 3 o.) TO of $131,624, against $328,728 in 1887-88.
ir 49i *
,
Cojjnmon, in 1881, 2^t per cent; in 1882, 2-5;
U;
8o**%Ste vl wiln 1881.914; In 1882,6; in 1883. nil;
e .,i,ft8<
2%; iu 1887, 3; in 1888, 6%; in
ol
fix
e UB E1 rS86, 1
ot tu
1^
(V. 47, p. 49
ug. 1, 1 1.
| toci
cities
''
^
;
da
'
A
;
"
"-vis organized under the laws
er
n as many
n and stock
comVf"
,
blast
~- L "~ "ottneo
ta
-.*tfm
Whom.
Payable
J.
J.
A.
1,250,000
00,000
8,761,731
1O,000,OOO
6.250,000
86,199,852
1,301,000
4,920,000
850,692
8,500,000
7,-
100
100
100
100
Where Payable and by
l
A J. N. Y., Drexel, M. A Co.
A J.
do
do
A O. New York and London.
J. A J. N. Y., Drexel, M. A Co.
A. A O. N. Y. Central Trust Co.
M. A N. N. Y., Office, 49 B'way.
J. A J. N. Y.. Office. 63 B'way.
Q.-J. N. Y., Offlce,195 B'way.
M. A N. N. Y., Union Trust Co.
5,000,(KX)
1889
P r
'
Cent.
$2.490,000
3.0OO.OOO
1,OOO
INCOME ACCOUNT.
Revenue
Earnings (leased lines included)
Patent roy alttes. inauuf. profits, Ac.
Amount
)uts landing
'1879
. .
.
M.
M.
(Jl
1,300,000
570,000
6g
A N.
A S.
to
^"i^KsGOO,""'
pal.When Dae.
Stuck*
Lart
Dividend.
July, 1890
July, 1890
Aprtl 1, 1928
July
1,
1890
Oct. 1,1939
May, 1890
July 15, 1890
July 15, 1890
May 1,190
N. Y., Treasurer's Office May 1, 1900
London, Morton, R.A Co March 1, 1900
.1.
& J. N. Y.. Office. 195 B'way Jan. 1,1938
J. A D. Bank of N. Y. A Boston. Deo. 1, 1939
Q.-F. N. Y. Office, 18 B'way. May 10, 1890
J. A D N. Y.. Atlantic Trust Co.
June 1,1908
351, showed gross earnings for that yearto be $1,741,914; net, $1,026,498. (V. 46, p. 255. 471 ; V. 49, p. 435: V. 50, p. 276, 351.)
Texas Pacific Land Trust. Tue certificates of this Trust
represent the ownership of the lands formerly belonging to the Texas
A Pacific Railway. The trustees of the laid trust are Messrs. Charles
J. Canda, Simeon J. Drafce and William Strauss, of New York, and the
lauds received consisted ot 3,450,642 acres, and also $899,731, secured
by purchasers' contracts. In 1888 there were sold 8,771 acres and 6
town lots for $25,808. Rentals received from grazing lands, $18,458.
gee description of lands in V. 47, p. 341.
United States Express. In Sept., 1887, the stock was increased
$3,000,000, raising it to $lo,( 00,000, and the B. A O. Express was purchased. B. A O. RR. owns $1,000,000 stock. Dividends since 1880
have been : From 1881 to 1887, inclusive, 4 per cent; in 1888, 5; in
1889,5. In May, 1890, 2. Dividends will hereafter be paid seml-i
(V. 45, p. 305, 341, 348.)
nually In May and November.
Wells. Fargo Express. No annual reports or information.
March, 1888, this company bought out the Erie Express of the N. Y.
Lake Erie A West. RR. Co. Dividends of 8 per cent yearly have been
paid for many years. (V. 46, p. 371; V. 48, p. 372.)
Western Union Telegraph. On Jan. 19. 1881, was dated the
erand consolidation, in which the Western Union raised its -stock to
$80.000.000, giving par. or $15.000.000. for the stock and bonds of th
American Union 60 per cent for old Atlantic A Pacific stock in ne'
Western Union; and a stock distribunou of 48 1 per cent to Wei
Union shareholders. This stock dividend was finally held to be legal
the New York Court of Appeals in Oct., 1883.
In October, 1887, the Baltimore A Ohio Telegraph Co. was puroh;
by the W. U. ($3.875,000 of its stock) for 50,000 shares of W. U. si
and $GO,OOO per annum as rental for 50 years. The mileage of
transferred by B. A O. to W. U. Tel. Co. was as follows: Owned, 52,i
;
:
;
miles; leased. 1,504, controlled, 4,480. Number of offices taken o
about l.OOO, of which 250 were not duplicated by the W. U.
The Mutual Union Telegraph made an opposition line, but in Feb., 188;
a lease was agreed upon. The Western Union also leases the Am. Cabl
with a guarantee of 5 per cent per annum on its stock of #14, 000,000.
In 1889 two cables aggregating nearly 1,700 miles in length were
completed between Coney Island and Nova Scotia, giving company
two working cable < from New York City to En zland. The new cables
were paid for in cash.
In April. 1886, the quarterly dividend was paid in scrip, and no more
~~
when cash
d
Tables.
Bandt Prinol-
tlic.ua
INTEREST OR DIVIDENDS.
dividends were resumed
to 1 >4 per cent quarterly,
idend of ^ of one per cent was paid.
Lrl
uater*l trust bonds of 1888 (trustee of deed. Mercantile Tr.
T?d8l9
^ued to ret lie an equal amount of stock and bunds of various
US\
On f cable companies for the interest or dividends on which
these when so retired to be held as se"
"
i,
atocksfor a series of years has been In 1881,
la
1882, 76i89338; in- 1883,
'98138; in 1886, 6Qia8O 1s; in 1887. 67%
In 1890 to July 21
:
71A88;
;
nal 8
nonu
figures for same quar. In 1889:'
*
oar eaA*?S?sWSrt*r ending June 30.e
90 S1T . R89
Estimated, 1890.
jtscal y *Ior 1889figures!
$1,750,000
9l
fto**6
40. >
^
.
tft%eB
3
'
"^(yiW
,TentalB.
^^**i&*>'-fefisr...
:;;.
,
*4,043,950
rofltt
243,143
98'3
-^
alance
ol
p
'~~
Tnlnal 8Ulkr
Total nii*"r year)
"
.-10
:"
530,
";
.--
!
*&*%*****
^.%.s^rA^^^^^^ 3gssSss v **
,?rr4,K'SSv8i.
ssrssa& a%a
iTjStSSLSS
116,
Yn
1
i-
cent
is
80 iu
'
a.s
i
^= ipa,uvw,ooo stock
.
.
paid quarterly (Q. J.)
MISCELLANEOUS STOCKS AND BONDS.
JULY, 1890.J
7*
JJF"
BrUlolV
ixNASHVILLE
MAP or
EASTERN TENNESSEE
IIIOKIKO
M
A
MJ / R
Y
!
-r-~-
fogies/
G
I
\L
\
V M
O R
E
%V
,'
.<'-/, ,-WI-IITWELLl f ,ITWELL A/ r-
*
.
THOMAS/--/
COAL MINES;
S
E
rBomtrr
w
&
Greene Counties.
B8.13S Acre*.
Cocke
.Pulaski
M
',/
/
.-
A*
~C
VICTORIA/
R
A
I
Fayottoville
,
L
M
Athens
S
I
A
,S
D
T
/
/*
/\
L
?/\CH A/TTOG>1
'*>
" Somerville
M
R
C U
L
AN
G
\L
0_\
M
Cullman
Cham
l
jio
''
Ashville
-^
TC LAIR
\'\.
Village
y Whitney
'*
Cpmpton
SpVV-',
MAP SHOWING
LOCATION OF PROPERTY
ENSLE>
OF THE
PRATT COALFIELDS/
"BIRMINGHAM
'ALICE FURNACES
Besscinci
Y~*>
&
LINN
^TENNESSEE COAL, IRON & RAILROAD
IRONWORKS
I
fG raced
v
/&
/9
,-
,''/\f
xQothitc/
/
5
JlocktWrHlc.
v
Helen a
A
ALABAMA
TENNESSEE
ChildersburgX/-
L
B
Y
TOTAL,
-
-
-
-
-
-
-
81,998 ACRES
126,425
208,423 ACRES.
CO.
136
BANK, GAS, INSURANCE AND RAILROAD STOCKS.
BANK STOCK
LIST.
[VOL. I
JCLY, 1890.]
RAILROAD EARNINGS.
IA7
198
INVESTORS'
SUPPLEMENT.
[Vo r,
LI.
@FedFRASER