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RAILWAY AND INDUSTRIAL
SECTION
OF THE
C ommercial & F inancial £|hrowicle.
E n terw l a c c o r d in g to A o t o f Oonarmw in th e ve>ir 1 9 0 7 , hv W i l m
Vol. 85.
R
N E W
ailw ay
and
I
ndustrial
a*
H
i >ap*a
YORK, JULY
Section
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NEW
YO RK IM PR O V E M E N TS OF
P E N N S Y L V A N IA R A IL R O A D .
N ew Y o rk .
THE
The work which the Pennsylvania Railroad is now
doing in the vicinity of New York is on so big a scale
and embraces so many divisions and ramifications
that it is not very well understood. The main parts
of it are capable of division into three groups; first,
the tunneling of the Hudson River, the establishment
of a terminal on Manhattan Island for passenger traffic
and the co-ordination of the Jersey City lines to that
end; second, the electrification of portions of the Long
Island Railroad, and building the East River tunnels
and the tunnel connection with the general passenger
terminal in New York; third, the Greenville freight
terminal and the New York connecting railroad, by
means of which freight for New England points will be
ferried across the upper bay to Bay Ridge and then
hauled by rail around Brooklyn and across the Hell
Gate Bridge to a connection with the Harlem River
branch of the New York New Haven & Hartford.
Certain other pieces of work, of first-rate magnitude
in themselves, but minor in comparison with these
three primary ones, are included in the general plan.
Chronologically speaking, the first link in the chain
was the acquisition of control of the Long Island Rail
road by majority stock purchase in May 1900. The
Long Island Railroad is still operated as a separate
company, but is officered by Pennsylvania appointees
and worked as a. component part of the system. Its
defect under former administrations was that it was
a one-season road; furthermore, its Brooklyn entrance
at grade on Atlantic Avenue was a highly dangerous
thing, necessitating very slow train movement between
Flatbush Avenue and Jamaica. The remainder of the
system was characterized by dense suburban travel
(V*h p \ h v , m th e o t t le « o f L ib ra ria n o f iTonstress, W ash ln ifton . I»
27, 1907.
No. 2196
in the summer months to the beaches and other sum
mer resorts within a radius of thirty miles or so, sup
plemented by long-haul traffic to the end of the island
and intermediate points. Except for a certain amount
of garden-truck business, the freight traffic was and
is of little consequence, and has many of the charac
teristics of express business. It was necessary to pro
vide a large amount of equipment for the summer
travel, and much of this equipment had to lie idle in
the winter months. In short, the road had to run at
a loss for eight months every year in order to make
a profit in June, July, August and September.
The Pennsylvania management grasped this prob
lem boldly. The Long Island Railroad, for their pur
poses, was to be a suburban commuters’ road, not a
summer road, and was to share directly in the benefits
accruing to transportation companies on account of
the growth of New York and the overcrowding of
Manhattan Island. But to accomplish this, to start
the stream of commutation travel flowing in that
direction and to make it a profitable business for the
company to handle after it succeeded in getting it,
great improvements were necessary, involving a tre
mendous capital expenditure that must wait several
years for its return. As a commentary on the popular
prejudice against large corporations, it may be noted
that a task of this magnitude could never have been
accomplished by a small corporation.
It was necessary to electrify the short-haul suburban
territory in order to handle economically a largely
increased traffic varying greatly between winter and
summer; and in order to afford proper connection with
the tunnel lines and the Atlantic Avenue line. This
latter had to be taken off grade and a proper terminal
built for it at Flatbush Avenue, to connect ultimately
with the Battery tunnels. This much of the work is
completed, except for the terminal; but further sub
urban electrification will doubtless be done from season
to season, according to the needs of the traffic. Work
on the East River tunnels, to afford direct rail connec
tion with Thirty-third Street, Manhattan, is well in
hand, although serious difficulties have from time to
time been experienced with blow-outs, owing to the
nature of the river bottom. Contracts for building
these tunnels were given to S. Pearson & Son in March
1904 calling for two entirely distinct double-track
tubes, to be carried across the river parallel to each
other and 37 feet apart, centre to centre. At the west
line of Fifth Avenue the tracks are spread out into two
three-track tunnels, one under Thirty-second Street
and the other under Thirty-third Street.
6
RAILWAY AND INDUSTRIAL SECTION
An officer of the Pennsylvania Railroad* not long
ago published statistics showing that while the popu
lation density of London, England, was 38,498 in
habitants per square mile, and the density of the
Borough of Manhattan was 99,148 per square mile,
and that of the Borough of Brooklyn 18,097, the popu
lation of the Borough of Queens was only 1,618 in
habitants per square mile. In other words, the dense
population of Manhattan, struggling to find a place
to live within easy commutation distance, has made
very little use as yet of the immediate territory which
the Pennsylvania East River tunnels and the western
end of the Long Island Railroad system will serve.
If the new system of communications can be made to
supplement or in part take the place of the work done
by the Interborough Rapid Transit Company, as re
gards density of commutation movement to and from
the places of business, the Pennsylvania Railroad need
have no fear about the ultimate return on its invest
ment; and this situation— this gap in density of popu
lation to be filled from the overflowing sources else
where— and the constant new development has un
doubtedly been the moving cause in this very large
venture. To take a street car from Thirty-third Street
and Seventh Avenue to the present Long Island ferry,
to ferry across the river, walk through the train-shed
and get on board a train lacks the psychological
attraction to the commuter of the much easier and
much quicker route by way of an electric car which
shall run direct from suburban stations on the Long
Island road to the Thirty-third Street terminal; and
there can be but little doubt that this easy way into
and out of a crowded city will build up a traffic to
Long Island points, especially near-by Long Island
points, all out of proportion to that which now exists.
For the present, of course, the Long Island Railroad
must continue paying heavier fixed charges each year
and not showing a proportionate gain until the tun
nels can be finally completed and the through route
put in operation, but the project bears rich promise
for the future, and is a striking instance of the courage
and far-sightedness of the Pennsylvania Railroad.
The project of the Hudson River tunnels is to be
explained in part by this same motive of furnishing a
better and quicker route for dense suburban travel,
and thereby inducing additional suburban travel to
follow the route offered. The solution long proposed
for the North River situation was a bridge, but the
idea of this was abandoned partly on account of its
great cost and partly because the different railroad
companies arriving at the west bank of the Hudson
River opposite New York could not agree among them
selves to become joint partners in the enterprise. It
was finally decided by the Pennsylvania interests to
build their own tunnel, and with this in view the Penn
sylvania New Jersey & New York Railroad was incor
porated in 1902 in New Jersey to build from a point
near Newark to and under Weehawken and the Hudson
River to a point on the boundary line between New
Jersey and New York. A New York concern known
as the Pennsylvania New York & Long Island was in
corporated shortly afterwards to build from a junction
with the New Jersey tunnel to the Seventh Avenue
terminus and on across Manhattan Island and under
the East River to a connection with the Long Island
Railroad in the Borough of Queens. The franchise re
• A . J. County.
[V o l . l x x x v .
quired that the tunnel company should complete its
construction within five years. The average com
pensation per year which the tunnel company will
pay the City of New York for the first 25 years is
about $64,000 a year. At the close of that period the
question of compensation is to be taken up again.
At the present time the iron tubes for these two
North River tunnels have been laid and finishing work
is being done upon them. Much remains to be done
at the New York terminal and on the New Jersey side,
where it is proposed to electrify the suburban district
so that electric trains run through the tunnels may
move to their destination within suburban territory
without change of motive power. But the hardest
and heaviest work on both the North River and the
East River projects has been completed, and it will
only be a short time relatively before the tunnel sys
tems across both rivers are in operation. The effect
of this suburban improvement work on both sides of
Manhattan Island, across the respective rivers, and
of the excellent through connections established, can
only be guessed at, as there is unfortunately no way
of measuring future travel along traffic lines as yet
undeveloped; but it seems wholly within the limits of
possibility that the suburban extension which has so
actively characterized the Bronx within the last four
or five years may take a new direction, and that both
the Long Island and the New Jersey suburban terri
tory, brought materially nearer the heart of Manhattan
Island in point of time, may develop accordingly.
These two projects, that of the Hudson River tun
nels and of the East River tunnels and Long Island
improvement, are designed for passenger traffic en
tirely. The third project, that of the New York
Connecting Railroad, is not primarily concerned with
passenger traffic, but is a device for avoiding terminal
congestion and for facilitating the movement of through
freight around New York City. The New York Con
necting Railroad will be 12 miles long. At Green
ville, southeast of Jersey City on the upper bay, piers
have been built and a channel dredged to accommodate
a car-float ferry directly across the bay to the Brooklyn
side at Bay Ridge, avoiding the congested docks and
the crowded condition of river traffic around Man
hattan Island. Freight trains will branch off from
the present line at Waverley, N. J., within the city
limits of Newark, and will run on a structure built
across the shallow waters of Newark Bay to Green
ville. The new part of the Connecting Railroad runs
through the northern part of the Borough of Brooklyn
and the western part of the Borough of Queens to
Port Morris, N. Y ., crossing the East River at Ward’s
and Randall’s Islands over a very remarkable sus
pension bridge. The bridge and the approaches are
in reality a series of bridges of many different types,
with a total length of over three miles, and the main
channel arch over Hell Gate will have a clear span of
1,000 feet, and will be the largest single-span arch
structure of its kind in the world, being more than
200 feet longer than the arch over the gorge at Niagara,
and designed for much heavier loads. As seen in the
preliminary drawing, the structure will be very
massive and of considerable beauty, quite unlike either
the Williamsburg Bridge, the Brooklyn Bridge or the
proposed Manhattan Bridge in its style of construction.
Without going into the details of the rather com
plicated and very discreditable city politics which
J u l y , 1907.J
RAILWAY AND INDUSTRIAL SECTION.
delayed this project for several years, it may be stated
briefly that in the face of rapidly rising land values
the Pennsylvania Railroad Company stood out flatly
against a direct offer of a franchise for a corruption
price, and finally obtained its privileges cleanly and
above board, to the discomfiture of the New York
Board of Alderman,and, it must be frankly admitted,
to the largely increased cost of the work. The battle
fought was a notable one, ending in the loss by the alder
man of their former rights to grant privileges of this sort.
No plans with regard to passenger development on
the New York Connecting Railroad have been announ
ced, and it is doubtful if the passenger features of this
line are to be given first-class importance, at least for a
number of years. Whether or not the Pennsylvania
attempted to secure control of the New York New
Haven & Hartford some years ago with a view to
bringing its trains into the Seventh Avenue terminal,
cannot be definitely stated. At all events, control
of the New England property did not pass from its for
mer owners. It is in fact so widely spread throughont the New England States that it is to all intents
and purposes out of reach. It is distinctly possible
that an arrangement might be made through which
certain New Haven trains should run into the Penn
sylvania terminal and that there might be an extension
of the through passenger service now represented by
the Colonial and Federal expresses which for many
years have been carried on car-floats from the Harlem
River Branch of the New Haven road to Jersey City.
These trains will doubtless find an all-rail route when
the Connecting Railroad is completed.
There are several important points to be considered
in regard to the broad plan which has been outlined.
Of the three projects, two deal very largely with com
mutation service, as has been mentioned. Commuta
tion service by itself has been a very questionable
source of income to the railroads in this country and in
England as well, and the assertion has often been
made that by itself it did not pay, although it brought
many profitable results along with it. But strictly
suburban service, like that of the Interborough Rapid
Transit Company, pays extremely well unless capital
costs are so high that fixed charges eat up the profits.
As compared with the existing suburban lines in New
York City, the capitalization of this new Pennsyl
vania improvement work is going to be very moderate,
while the physical details of construction, embodying
electrification of suburban lines and well planned re
ceiving and distributing grounds are as good as the best
engineering talent in the country could devise. What
the Pennsylvania has set out to do, therefore, is to
make a profit out of a branch of service which has often
been unprofitable and to do so by virtue of far-sighted
plans and the application of the highest engineering
talent. It has been pointed out that land values and
labor costs are increasing so rapidly that it was of the
utmost importance that a project of this sort should
not be delayed, and the Pennsylvania management
believes that the work which it is doing to-day would
be almost out of reach ten years from now, for financial
reasons.
In addition to the possible earnings from short-haul
traffic, it must also be considered that the prestige
which tbe New York terminal arrangements will bring
to the Pennsylvania Railroad Company will be tre
mendous, so that it can count not only on commutation
fares but also on a constantly increasing share of
through traffic west from New York. As a technical
detail, the separation of passenger and freight traffic
by the device of the New York Connecting Railroad is
admirable, at the same time that it is daring, involving
an enormous capital cost; but it is coming more and
more to be recognized that in crowded localities it is
absolutely essential that these two kinds of traffic be
kept apart. It appears, therefore, that the manage
ment has taken into consideration not only present
facts but also future ones. The results of the gigantic
experiment must necessarily be watched with the keen
est interest on both sides of the Atlantic. No similar
problem has ever been attempted and there is much
that is experimental as well as much that is magnifi
cent about the scope of the work at hand.
IN V E S T IG A T IO N OF ACCID EN TS.
It is a curious commentary upon the state of the
public mind that throughout the mass of railroad
legislation which has been enacted this year, covering
almost every conceivable subject from 2-cent fares
and reciprocal demurrage to carrying passengers in
the cabooses of freight trains, almost no attention has
been paid to one matter which falls quite properly
and naturally under the functions of government.
The record of our railroads has always been blemished
by the frequency with which accidents occur, yet in
our 60 years of railroad development we have neg
lected what may well be called the primary measure
looking towards a reduction of accidents, and that is a
careful and systematic inquiry into their causes.
When an accident occurs in this country the atten
tion that is paid to it varies directly according to its
proximity to a large city. If the accident occurs in a
thickly settled part of the country and is what may be
termed an important one, involving loss of life, great
excitement is created and independent investigations
are pretty sure to be made by five separate parties in
interest: the Coroner, the State Railroad Commission,
the District Attorney, the officers of the road and the
newspapers. The result of this tangled series of socalled investigations, all proceeding at the same time,
is just what might be expected. The verdicts of the
Coroner and of the State Railroad Commission and
the -action taken by the District Attorney occur at
widely separated periods and the conclusions formed
are often widely different. It would be possible to cite
not merely a few but a very large number of serious
American accidents which to this day remain either
entirely unexplained or else have been explained in so
contradictory a fashion by the respective powers that
nothing useful can be gained from the explanations.
The fundamental hindrance to the American in
vestigation of accidents is the widespread underlying
belief that the investigation should necessarily result
in the punishment of somebody. If gross negligence
causes an accident it is well enough that it should be
punished, but that is not the main thing. It is far
more important to learn how a similar accident can
be avoided in the future than it is to send anybody to
prison for damage already done. The spirit of ven
geance, of course, is enormously fostered by the news
papers, which exploit the wrecks which occur, for
motives so purely selfish, that it is amazing how great
an influence they wield and how much they can ob
struct actual progress towards better practice. It
8
RAILWAY AND INDUSTRIAL SECTION.
happens often that a railroad officer is convinced, as
the result of an accident, that he has been making use
of bad practice in some particular of his roadbed,
signals or equipment; yet he is frankly afraid to ac
knowledge it while under supervision by a swarm of
newspaper reporters, who will misquote him, miscon
strue his motives and damage his reputation and the
reputation of his road.
It is well worth while to study the methods of acci
dent investigation which are in use in England, for the
reason that they substitute one co-ordinated examina
tion, made jointly by the officers of the Government
and the officers of the railroad, for the entangled con
test of wits which occurs in this country, while British
public opinion, which is far more critical, day in and
day out, than American public opinion is, is quite
satisfied with the findings and the press has but little
comment to make except along lines suggested by the
Government board.
The police powers which the British Government
exercises over its railways for the preservation of
public safety find their chief expression in two ways:
first, in the requirement, dating back to the Regulation
of the Railways Act of 1842, that every company shall
give notice to the Board of Trade of its intention to
open for passenger traffic any railroad or section of a
railroad; and, second, in the Act of 1871, which re
quires all railway companies to give notice to the
department of any accident which may occur in or
about the railroad or any works or buildings connected
therewith. In 1889 an Act was passed placing upon
the Board of Trade (which in England is a branch of
the Government) the responsibility of seeing that all
British railways which carry passengers should be
block-signaled,should interlock switches and signals,
and should fit all passenger trains with “ continuous
brakes.” Under these three enactments, therefore,
the Board of Trade inspectors are able to supervise
very thoroughly the safety of British railway working.
There is no statutory procedure laid down for the
way in which an inquiry shall take place,and inquiries are
conducted in the manner that seems best suited to the
circumstances of the case; but it is generally customary
for the inspecting officer or officers first to visit the
scene of the accident and investigate all the circum
stances of the disaster as carefully as possible. Ad
journment is then taken to a place where the testi
mony of witnesses with the scene still fresh in their
minds can be held, and this evidence is taken down
verbatim. The proceeding is strictly that of an inquiry
court and is not bound by the proceedings of a law
court or by the rules of evidence. It is distinctly
understood that the purpose of this inquiry is not to
punish anybody, but is to prevent a recurrence of the
accident. If there has been criminal negligence it is
dealt with separately by the regular processes of the
law and not by the Board of Trade.
After the inspector making the inquiry has satisfied
himself that there is no more information to be got,
he compiles a report as best he can, which is printed
in the usual form of British “ blue books,” and is pre
sented to Parliament, to the newspapers and to the
railway companies concerned. The inspector has no
occasion to be hasty in his judgment; he is not moved
by temporary excitement, because he has been making
the same kind of investigations for a great many
years. He has had abundant opportunity to observe
all kinds of railway practice, both good and bad, and
if he finds bad practice and decides that it is responsible
for the wreck which occurred, he says so very plainly,
and it is incumbent upon the railway company to
[V o l . l x x x y .
make whatever changes he suggests. The railway
officers and the Board of Trade inspectors work to
gether in perfect harmony, helping each other instead
of hindering each other, which, unfortunately, is not
the case with rival inspecting parties in this country.
The result of all this is that the inspector’s report is
straightforward and dignified without attempt at
theatrical^effect. Not infrequently he says frankly
that he does not know what occasioned the accident ,
although he can generally find useful suggestions to
make for the future; but the public has the utmost
confidence that if anything really wrong had been
found the fact would be made known by the inspecting
body and steps would be taken to prevent its recur
rence, and the confidence thus created has been one
of the most wholesome effects of the inspections.
It happened more or less by chance that the first
inspecting officers to be appointed came from the
army, because at the time of their appointment in the
year 1840 there was no body of railway men available
from which the advisers of the Government could be
drawn. The civil engineering profession was not well
organized at that period and the military engineers
obviously offered the best field from which to choose.
The plan has worked well in practice. The inspectors
are of high standing in the community, have no political
affiliations and are above suspicion as to their dis
interestedness.
It is well worthy of considering whether some such
plan could not be tried with great advantage in this
country. The duty of inspection should not, we
believe, be placed upon the Inter-State Commerce
Commission, a body already much over-burdened.
It will be noted that the Railway and Canal Commis
sion in Great Britain, which bears a rough analogy
to our Inter-State Commerce Commission, is not
charged with this duty of inspection. The new public
service law of New York State provides that each
commission shall see to it that common carriers furnish
service and facilities which shall be safe and adequate;
also that the commission shall keep informed as to the
general condition of the railways within the State
with respect to adequacy and security, and that each
commission shall investigate the cause of all accidents
within its districts which result in loss of life or injury
to persons or property, and which, in its judgment,
shall require investigation. Common carriers are
compelled to give immediate notice to the commission
of any accident that occurs and the commission is
authorized after a hearing to make and serve an order
directing repairs, improvements, changes or additions
which it may think necessary.
There is no doubt, therefore, that the authority of
the commissions in New York is ample. Whether
or not in their enormous and onerous duties they will
have anything like time to perform this function
properly is quite another matter. England and New
York State are roughly comparable as to size, yet the
inspection of new works and investigations of acci
dents keep the British inspection board busy, although
that board is not encumbered by the dreadful com
plexities of traffic regulation which are placed upon
the New York commissions.
Entirely upon grounds of efficiency, therefore, and
without regard to political considerations, it would
seem advisable that accident investigation should pro
ceed from some other source than that of the authority
of a State railway commission. At the close of the
all-pervading present day spirit of corporation regula
tion it may well be that the conservative English plan
will be found to be the best.
RAILROAD COMPANIES,
FOR MISCELLANEOUS COMPANIES SEE PAGES 153 TO 178, INCLUSIVE.
E X P L A N A T O R Y .— This Supplem ent Is expreaely Intended for use In con nection with the Investm ent news and official reports published from week
to week In the “ C hronicle.”
Frequent reference Is therefore made to the volum e and page o f the "C h ronicle” (as V . 74, p. 000) where fuller lnfor
m atlon m ay be foun d. Follow ing also each statem ent is given a reference to the latest news Item In the "C h ronicle” respecting the com pany. As
every such Item contains a reference to the last preceding Item, the reader can run back over the com p a n y’s history at pleasure. Annual reports
are In b lack-faced figures, and italics Indicate a paragraph headed b y the name o f some other com p any.
In d ex.— A n y com p a n y not In regular alphabetical order m ay be found b y means o f the Index, on another page, to roads leased and consolidated.
Dividends.— The dividends tabulated In the te * t are those actually paid during the calendar years nam ed. Irrespective o f when earned.
Net earnings are given after deducting operating expenses and usually taxes, b ut not Interest, rentals or other fixed charges.
Securities.— These are described In table at head o f page (except the stock , for lack o f space, sometimes on ly in text below) as follows:
M iles of Road.— Opposite bond s, this means the miles o f road owned covered b y the m ortgage.
S ite or Par Value.— Shows (In dollars unless otherwise m arked), the denom inations or par value, "1 0 0 , & c.,” signifying $100 and larger.
Rate Per Cent.— The Interest and dividend rate, per annum. Is here shown; g ., gold; cu r., currency; x , extra: s ., stock or scrip.
When Payable.— J. & J. stands for January and July; F. & A ., February and August; M. & S ., March and Septem ber; A . & O ., April andO ctober;
M. & N ., May and N ovem ber; J. & D ., June and D ecem ber; Q .-J ., quarterly from January; Q .-F ., quarterly from February; Q .-M ., quarterly
from March.
Bonds, Principal When D ue, E tc.— This colum n shows the date when the bonds mature and the am ount and date o f the last dividend.
Abbreviations In table: M. for "m ortg a ge” ; gen. M. for "general m ortgage” ; con . M. or consol. M. for "consolid ated m ortgage” ; Inc. M. for "In com e
m ortgage” ; g. for “ gold” ; c. or cur. for "cu rre n cy ” ; guar. p. & 1. for "guaranteed principal and Interest” ; cum . for "cu m u la tiv e” ; non-cum . fo r
•non-cum ulatlve” ; con v. for "con v ertib le Into stock at holder’s op tion ” ; pref. for "preferred ” ; s. f. for "sinkin g fund” ; 1. gr. for "la n d grant”
r. “ fully registered (no cou p on s)” ; c. "c o u p o n ” ; c.* "co u p o n but m ay be registered as to principal” ; br. "b r a n ch ” ; end. “ endorsed” ; re d .,
‘ ‘ redeem able” ; d ’rn or “ drawn” subject to call when drawn b y lot; p. m ., “ per mile” ; as’ d , "assu m ed ” ; x , payable without deduction for any t a x .”
Mortgage Trustees and S tock Transfer Agents (TR Treasurer’s Office) are Indicated thus:
P H IL A D E L P H IA —
BOSTON—
CHICAGO—
NEW Y O R K C ITY—
N. Y. C ITY — (Concluded.)
FP— F idelity Trust.
AC— A m er.Trust & S av. B k. AB— A m erican T rust.
B— Bowling Green Trust.
Ta — Trust Co. o f Am erica.
BB— Boston Safe Dep- & Tr. GP— Girard Trust.
EC— E quitable Trust.
Un— U nion Trust.
Ba— Bankers’ Trust.
GuP— Guaranty T r.& S .D ep .
IB— I nternatlonal Tru t.
FC— First T r. & Sav. Bk.
Us— United States Trust.
Ce— Central Trust.
P IP — Providen t L ife & T r.
Usm— U . S. M ort. & TrustCo IC— Illinois Trust & S av.B k. NB— New England Tru'-t.
Eq— Equitable Trust.
PeP— Penn. Co. for Insur.
OB— Old Colony Trust.
MC— Merchants’ Loan & T r.
F— Farmers’ Loan & Trust.
on Lives & Gr. A nn.
SB— State Trust.
NC— Northern Trust.
BALTIM O R E —
Q— Guaranty Trust.
W
P — W est End Tr. & S. D .
RC— R oyal Trust.
K— Knickerbocker Trust.
ST LOUIS—
BBa— B alt.Tr. & Guaranty UC— U nion Trust.
Ma— Manhattan Trust.
MSt—
Mississippi
V
alley
Tr.
P ITTSBU R G H —
WC— W estern Trust.
CoBa— Continental Trust.
Me— Mercantile Trust.
SSt— St. Louis U nion Trust. CPi— Colonial Trust Co.
FBa— Fidelity & Deposit.
Mo— M orton Trust.
LO U IS V IL L E —
SAN FRANCISCO—
FPi— Fidelity Title & Trust.
MBa— Maryland Trust.
Mp— M etropolitan Trust.
MeBa— Mercantile Tr. & Dep. CL— Columbia Finance & T r. CS— California Safe Deposit PPi— P ittsburgh Trust.
N— New York Trust.
UPl— U nion Trust.
& Trust.
SBa— Safe D ep. & Trust Co FL— F idelity Tr. & S afety V .
S— Standard Trust.
LL— Louisville Trust.
Subscribers will confer a favor by giving Im m ediate notice of an y error discovered in these tables.
R A IL R O A D S .
F or explanation of column headings, A c ., see notes
on first page of tables.
Akron & Barberton Belt— 1st M s f text g .U sm .c* & r
Alabama Great Southern— Ordinary stock
Preferred stock 6 % $4,000,000----------------------------- First mortgage (American Co.) gold $ 1 ,7 5 0 ,0 0 0 .- F .c
General mortgage £ 1 ,1 60 ,0 0 0________________C e.c
Car trust $50,000 due seml-an gold N . ........... ...........
Do
74,000 due seml-an g (V 82 p 8 6 7 )____
Alabama Midland— See A tlantic Coast Line R R .
Ala N O Tex & Pac J— " A ” deb redeem 1910 at 1 1 5 . .c
“ B ” debentures incom e redeem after 1910 at l i o . _ c
*’ C” debentures Incom e subj to call any tim e at 100
Alabama Tenn & Nor— 1st M gold te x t.
_______ K
Alabama & V icksburg— Stock $ 1,050,000___________
V icksburg & Meridian 1st M gold $1,000,000-F .xc*
A labam a & Vicksburg con 1st M $1,800,000 g .C e .c
2d M.orlg.$700,000 gold (IstM .o n 15,612 &cres)Ce.c
Alaska Central— 1st m ortgage $30,000,000 g o ld .-W .C
Albany & Northern— 1st M gold ($50,000 are pref) . . c
Albany & Susq— Stock dividends guar b y D & H (end)
1st M $10,000,000 gg u a r p & lc o n v t e x t U s m .c '& r
Albany & Verm ont— Stock 3 % guaranteed b y rental.
Allegheny & W estern— Stock ($ 3,5 00 ,0 0 0 )___________
1st M $2,500,000 gold guaranteed p & 1 e n d ____G.c*
Allegheny Valley— 1st M. guaranteed Penn R R _____ c
Mortgage to State o f Pa $100,000 due Jan 1 yea rly .r
Gen M ($20,000,000) gold guar p & l._ F P i.x c* & r
Allentown RR (leased to Philadelphia & Reading R y)
Allentown Terminal— 1st M guar p & 1 (end) g_.C e.xc*
IN T E R E S T OR D IV ID E N D S .
M iles Date
of
of
Road. Bonds.
...
1902
290
1878
1888
1905
1906
...
_
21
143
143
143
143
50
35
1890
1890
1890
1906
1881
1889
1889
1905
1896
142
12
66
66
262
262
262
1898
1869
1869
1892
“ 3
1889
1906
Size, or
Am ount
Par
Value. Outstanding
$ 1,000
50
' 50
$1,000
£100
1,000
1,000
$1,052,000
4 g'
7,830,000
3,380,350 6 In 1906
1.750,000
6 g
£710,000
5 g
$800,000
43^ g
1,331,000
4H g
748,850
£50 &c
5 g
£20 &c £1,048,390
5 g
£810,653
£20 &c
5 g
$168,000
1,000
5 g
1,050,000 7 In 1906
100
1 ,000,000
1,000
6 g
588.800
100 &c
5 g
502,500
100 &c
5 g
3,500,000
1,000
5 g
400,000
1,000
5 g
9
3,500,000
100
1,000 &c
See text.
3H S
3
600,000
100
3,200,000
100
6 g
2 ,000,000
1,000
4 g
9,998,080
7
$ &£
200,000
5
100,000
1.000
7,250,000
4 g
50
1,268,884 lncl. $1,0
450,000
1,000
4 g
A D IR O N D A C K R Y .— In 1902 m erged w ith the Delaware & H udson.
AKRON & BARBERTON BELT R R .— Owns a belt line around Barber
ton , O ., and also extends to Falrlawn and A kron, O .; tota l. 40.2 miles.
A consolidation In May 1902: V . 74, p. 1088. S tock, $100,000, owned
equally b y the Cleveland Akron & Colum bus, Baltimore & Ohio, Erie R R .
and Northern Ohio R y . Bonds authorized, $1,500,000; Issued, $1,100,000, o f which $48,000 redeem ed b y sinking fund; $400,000 reserved for
future requirem ents. Drawn at 105 yearly Dec. 1 for sinking fund o f
$11,550 per annum. V . 75, p. 440.— (V . 78, p. 2598.)
A LAB A M A GREAT SOUTHERN R R .— (See M a p Southern R y .)— Owns
W auhatchle, T en n ., to Meridian, Miss.. 291 miles; leases W auhatchle to
C hattanooga, 5 miles, and Belt R y . o f Chattanooga, 45 miles; trackage
to B locton , A la., 8 m ., and Gadsden, A la ., 6 m .; total op er., 354 miles.
O R G A N IZ A T IO N .— Controlled b y Southern R y ., but operated lnde
pendently. In 1905-06 the dual existence o f the enterprise was ended, the
Am erican corporation (A la. Great South. R R .) succeeding the English
corporation (A la. Great S outh., Ltd.) as the parent corporation, the am ount
o f outstanding stock remaining unchangd per plan In V . 81, p. 1722; V . 82,
p. 159. Owns $833,300 stock o f Southwestern Construction Co. received
in exchange for $833,300 Cincinnati New Orleans & Texas Pacific stock.
See V . 65, p. 1173.
The funded arrears o f preferred dividends were In Feb. 1906 exchanged
for an equivalent am ount ($399,464) o f 4 % obligations payable b y sinking
fun d 1 0% sem i-annually till all are redeemed Feb. 1 1911 and uncondition
a lly guaranteed b y the Southern R y (V . 81, p. 1722; V . 82, p. 159).
D IV ID E N D —
'01. ’02. ’ 03. ’04. ’05. ’06. ’07.
9 10
9
6
6 F e b .3
P ref. stock ( " A ” shares old E ng. c o . ) ____ 9
B O N D S .— Gen. m ort. 6s, £484,000, will retire first 6s and debentures.
L A T E S T E A R N IN G S .-! 1906-07____ Gross, $3,790,997; net, $698,364.
11 m os., J u ly 1 to May 31.J 1905-06____ Gross, 3,457,537; net, 660,S60.
A N N U A L R E P O R T .— R eport for year ending June 30 1906 In V. 83,
p. 1225, show ed, gross, $3,774,621; n et, $712,754; other Incom e, $53,309;
Interest on bonds, $296,241; Income tax, & c., $71,357; bal. for stock,
$398,469; d iv ’s (6 % ), $195,056.
In ’04-05, gross, $3,308,300, net
$601,325.— (V 82, p. 1170; V. 83, p. 1225; V. 84, p. 50,1051.)
A LAB A M A NEW ORLEANS T E X A S & PACIFIC JUNCTION R A IL
W A Y S CO. (L IM IT E D .)— This Is an English com pany controlling A labam a
& V icksburg, 143 miles; V icksburg Shreveport & Pacific, 189 miles; New
Orleans & N orth Eastern, 196 miles.
S T O C K .— Pref. A 6 % cu m ., $1,500,000; def. B , $2,500,000; par, £ 10*
S E C U R IT IE S O W N E D .— Alabam a & V icksburg, $30,000 first m ortgage,
$380,000 second m ortgage, $141,100 consolidated first m ortgage and
$581,500 stock; V icksburg Shreveport & Pacific, $1,513,000 general m ort
gage, $2,080,100 preferred and $2,773,500 com m on stock; New Orleans &
North Eastern. $5,115,000 general m ortgage, $1,500,000 Incomes and
$5,320,000 stock; Southwestern Construction C o., $448,700 stock; R ail
road Lands C o., $108,850 (of $120,000) stock.
COU PON P A I D .— F or..........'94. ’95. '96. ’98. '99. ’00. ’01. ’02 to ’06" A ” D ebenture.........._ .............% 5
5
5
5
5
5
5
5% yrly.
"B ”
do
......................... % .875 1 2 H 2 % 4 H
5
5
5 % yrly.
“ 0”
do
......................... % .............................. 1 H
-2 H 5% yrly.
E A R N IN G S .— See separate statem ent for each o f the controlled co m
panies. In year ending D ec. 31 1906, net from Investments was $172,688
paid general expenses (£ 3 ,5 8 6 ), Income tax (£ 8 ,6 0 1 ), Interest on " A
debentures (£35,570), on " B ” debentures 5 % paid In Jan. 1907 (£ 4 9 ,79 8 ),
on “ C” debentures, 5 % (£38,506) balance, £36 ,64 6 .— (V . 81, p. 1314.)
Rate
%
When
Payable.
Where Payable, and by
Whom.
Bonds— P rin ci
pal, When D ue.
Stocks— Last
Dividend.
J
& D U S Mort & Tr C o, N Y
L ondon
F & A
do
J & J Farm L & T r, N Y ; & Bos
J & D Glyn Mills & Co, London
N Y , Blair & Co.
F & A
New Y ork.
M & N
June 1 1942
D ec 1891
Feb 28 ’07 3 %
Jan 1 1908
Dec 1 1927
T o Feb 1915
N ov'07 -M a y’16.
M & N Glyn.Mllls.C & C o, Lond.
M & N
do
do
A & O See text.
A & O Knickerbocker Tr C o, N Y
Yearlj 7. Central Trust C o, N Y
A & O
do
do
A & O
do
do
do
do
A & O
A & O Chicago and New York.
J & J H am bleton & Co, Balt.
J & J Del & Hudson Co, N Y .
A & O
do
do
M & N T roy , N Y .
J & J A Iselln & Co, N Y .
A & O
do
do
A & O Penn R R Co, Phil: & Lon
J & J Treasurer, Philadelphia.
M & S Penn R R Co, Phlladel.
71 400 U nder Reading Co. m ortga
J
& J New Y ork and Phila.
N ov 1 1910-40
N ov 1 1910-40
N ov 1 1940
Oct 1 1956
Aug 31 1906,7 %
April 1 1921
April 1 1921
April 1 1921
April 1 1935
Jan 1 1946
July 1 1907 4M
April 1 1946
May 15 1907 1H
J u ly 1 1907 3
Oct 1 1998
April 1 1910
Jan 1 1908 e tc.
March 1 1942
ge o f 1896.
July 1 1919
ALA B A M A TENNESSEE & NORTHERN R R .— Owns from R eform , A la .
on the Mobile & Ohio, southerly to Allcevllle, 21 miles, with southerly exten
sion o f 29 miles being under construction In O c t ., 1906. Successor to Carroll
ton Short Line R y. Stock authorized, $10,000 per mile. Of the bonds
($1,500,000 authorized Issue), $168,000 were issued against the first 21
miles, $40,000 are Issuable to build a steel bridge, $1,032,000 at the rate o f
$8,000 per mile for additional mileage, but only when the net earnings on
com pleted mileage for the previous fiscal year are equivalent to Interest on
the bonds to be Issued in addition to bonds outstanding and $260,000 for
equipm ent on the basis of 10-11 of cost o f equipm ent. V. 83, p. 1036.
For 11 months ending May 31 1907, gross, $42,361; net, $22,909. F or year
ending June 30 1906, gross, $41,413: net, $22,240. In 1904-05, gross,
$38,318; net, $19,491.— (V . 83, p. 1036.)
A L A B A M A & V ICK SB U RG R Y .— Owns V icksburg to Meridian, M lw ..
and branch, 143 miles, all steel rails. Controlled by Alabam a New Orh&ns
Texas & Pacific Junction C o., which see. Reorganization o f the V icksburg
& Meridian foreclosed Feb. 4 1889 (see V . 48, p. 190).
D IV ID E N D S .— 1890 to 1892, 3 % yearly; 1896, 3 %; 1897 to 1899, 5 %;
1900 to 1902, 6 % yearly; 1903, 9 % ; 1904 to 1906, 7 % yearly. Stock divi
dend o f 50% In 1900.
BO N D S.— O f the $1,800,000 consols authorized, $1,000,000 are with
trustee to retire V icksburg & Meridian firsts.
E A R N IN G S .— F lscalyear ends June 30. F o r l l K m onths ending June 7
1907, gross, $1,481,410, against $1,296,692 In 1905-06. R ep ort, V . 83,
p. 1345.
Years—
Gross.
Net. Interest, & c .B a l.,s u r .
Dividend.
1905-1906.............. $1,380,£47 $302,218 *$159,774 $142,444
(7)$73,500
1904-1905.............. 1,358,043
286,791 *162,961
123,830
(7)73,500
•Includes $65,497 for new freight cars In 1905-1906. against $59,962 In
1904-05.— V . 83. p. 322, 1345, 1410; V . 84, p. 1365, 1487; V . 85, p. 158.
A L A S K A CENTRAL R Y. (See M a p .)— Building from Seward, on south
coast o f Alaska, north to near Fairbanks, on Tanana R iver, 450 miles. Ot
this, 46 miles from Seward north were In operation July 1 1906, and 60
miles additional under construction, contract having been let for first 185
miles. V . 82, p. 1495. Branch Is proposed from Knlk, abou t 150 miles
from Seward east to Manatuska, 40 m iles. V . 84, p. 1112. Annual report
at length was In V . 82, p. 756.
Stock authorized, preferred, 5 % non-cum ulatlve, $2,500,000: com m on ,
$27,500,000; outstanding, preferred, $1,912,450; com m on , $3,750,000: par
o f shares, $100. Stock Is lim ited to $35,000 per mile. Bonds ($30,000,000
authorized) are Issuable at $35,000 per mile o f main and $25,000 of second
track, with additional bonds for terminals, tunnels, bridges, &c. Of the
bonds and stock, #8,500,000 each are Issuable on the first 185 miles. See
V . 81, p. 1846; V . 82. p. 1495.
President, A . C. F rost, Chicago; V ice-President. H C. Osborne, T oron to;
Secretary, James A . H aight, Seattle; Assistant Secretary, Pierre G. B each,
Chicago; Treasurer, G L. Francis, Toronto.
Trustees: Albert C. Frost, Chicago: H enry C. Osborne and Gw yn L .
Francis, T oron to; George A . B all, Muncie; George Turner, Spokane; F.
Augustus Heinze, B utte, M ont.; James A . Moore and James A . H aight,
Seattle. E xecutive offices, 108 La Salle S t., C hicago.— (V. 84, p. 1112.)
ALBA N Y & NORTHERN R Y — A lbany G a., to Cordele, 37 miles. A
reorganization in 1895. S tock , $350,000; par o f shares, $100. O f the
bonds, $50,000 have a prior lien. Frank S. H am bleton o f Baltim ore and
H enry P . Talm adge o f New Y ork are m ortgage trustees. See official state
m ent, V . 76, p. 749. Year ending June 30 1906, gross, $111,404; net
$26,649, against $27,056 In 1904-05; int. on b on d s, $18,900; balance, sur
plus, $7,749. V .-P . and Gen. M gr., J. S. Crews; S e c., N . H . Johnson
O ffice, A lb a n y, G a.— (V . 83, p. 1522.)
10
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c. , see notes
on first page of tables.
M iles Date Size, or
P ar
of
of
Am ount
Road. Bonds. Value. Outstanding
Ann Arbor— First m ortgage $7,000,000 g old _.M p .xc*
292
Argentine Central— 1st M $200,000 g red s f ( t e x t ) ___
16
_
Ashland Coal & Iron— S t o c k ._____ ___________________
First refunding m ortgage $400,000 g o ld ___________ N
22
Astoria & Columbia— 1st M $8n000,000 . .
__Ce
81
Atchison & Eastern Bridge— 1st M g s f red te x t -.C e
Atch Top & S Fe Ry— Stock, com , $250,000,000______
S tock preferred $131,486,000 5 % non -cum ulative. .
Chicago & St Louis 1st M ($10,000 p m) c u r ..F .c
142
Chicago Santa Fe & California 1st M gold__B B .c* &r
440
General mortgage gold see t e x t .................... Un;c*&r 7,737
A d j inc M cum ulative from July 1 1900 gold .C e.c* &r 7,737
do
do lnt stam ped payable M & N ________
7,737
Eastern Oklahom a D iv 1st M $10,000,000 g .G .c*& r
306
D eb gold Ser E to L $2,500,000 each; call 105 G.c&r
Bonds $50,000,000 con v com stk red tex t.M o.c*& r
£; Bonds $30,000,000 con v com stock red te x t.S x c* & r
Hutchison & So 1st M gold red 105 begin 1908.0B.C* " *1~41
San Fr. & San Jo V a lls t M g call 110 aft 1 9 1 5 .Me.c
372
Atlanta Bir & Atl— 1st M $30,000,000 g red 106.OB.c*
A tlantic & Blrm I s t M r e d 110 beg 1909___ OB.c*
337
Joint coll trust notes gold redeemable 101_.Ta_c*
Equip bonds (V 85, p 39) due $86,000 sem i-ann___G
Atlanta & Charlotte— Stock (see t e x t ) ________________
269
Pref M (old 7s extended in 1907) See V 64, p 286.C* 265 H
______ r 265 M
First M extended In 1907 . ___________ .
Incom e bonds (not cum) ex in 1900 and 1907 _____
Atlanta Knoxville & Northern R y— See Louisville & N ashvlll
Atlanta Terminal— 1st M $1,500,000 g o ld __ S.c*&r
Atlanta & W est Point— S to c k ________________________
86
___
Debenture certificates....................................1 .................
Atlantic City— 1st m ortgage $2,200,000 g old .G u P .x c*
83
A tlantic City purchase m oney real estate M ____ GP
Sea Coast prior lien m ortgage g o ld ________________
66
A tlan. City 1st cons M $ 4,500,000 gold p & 1 gu _. G P All.
Atlantic Coast Line Co. (C onn.)— Stock $30 .00 0 ,0 0 0..
_
Ctfs of lndebt Inc non-cum $ 6,0 00 ,0 0 0 .......... SBa.r
do
do
redeem at 105 after 20 years.SB a
do
do
redeemable at par after 5 y e a r s ..
1895
1906
1900
1896
1898
1885
1887
1895
1895
1895
1903
1902
1905
1907
1898
1896
1906
1904
1906
1907
_
_
_
__
_
1877
1877
1880
e.
1903
.. 1881
1889
1900
1898
1901
_
1897
1900
1905
$1,000
500 &c
50
1,000
1,000
100
100
1,000
1,000 &c
500 &C
500 &c
500 &c
1,000 &c
1.000 &c
1,000 &C
1,000 &c
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
500
1,000
100
1,000
1,000
1,000
1,000
100
100 &c
100 &c
100 &c
ALBA N Y & SUSQUEHANNA R R — (.See M a p Delaware & Hudson.) —
R O A D .— Owns A lbany to Bingham ton, N. Y ., 142 miles.
Operated
Coblesklll, N. Y . . to Cherry V alley, 21 miles;, of the stock $450,000
ow n ed Jan 1 1907 b y Delaware & Hudson; total operated. 163 miles.
L E A S E D for 150 years from F eb. 1870 to Delaware & Hudson Com pany;
rental is 9% per annum on stock. (See guaranty, V . 56, p. 774.) S tock
holders’ orotectlve com m ittee, Geo. P. Butler, Chairman; U. S. Trust C o.,
depositary, claims for stock the benefit o f refunding effected in 1906, say
334 % yearly on stock. V. 81, p. 1847; V . 83, p. 968, 1036.
B O N D S .— The stockholders on April 7 1905 authorized $10,000,000 o f 40year 3 % bonds to refund the $10,000,000 o f 6s and 7s m aturing April 1
1906, which were in June 1905 offered at par pro rata to the stockholders of
the D . & H . The new bonds are dated A pril 1 1906, guar. p. & 1., and until
A pr. 1 1916 convertible into D . & H . stock— $500 stock for $1,000 bonds.
Of the bonds $3,353,000 had been converted in July 1907. V . 80, p. 1174,
1362, 2343. Form o f guaranty, V . 82, p. 986.
A N N U A L R E P O R T .— Year ending Dec. 31 1905, gross, $6,093,960;
net, $2,762,557. Earnings no longer kept separate. President, Geo. P .
Butler; Secretary, W . L. M. Phelps. New directors (O ct. 1906), V . 83,
p. 968.— (V . 83, p. 1036.)
A LB A N Y & VERMONT RR — Owns road from A lbany to W aterford J e t.,
N . Y .. 12 miles. Leased to Rensselaer & Saratoga in 1860 and now oper
ated b y Delaware & Hudson Co. Annual rental, $20,000.
A LLEG H EN Y & W ESTERN R Y .— (See M a p B u ff. Roch. & Pitts.) —
P unxsutaw ney to Butler, P a ., 60 miles; branch. New Castle, P a ., to Cement
W orks, 6 m .; tota l, 66 miles. A n extension o f Buffalo Rochester & Pitts
burg, to which leased in perpetuity for guaranty o f bonds and 6 % on stock.
Uses B alt. & Ohio from Butler to New Castle and Pittsburgh under a track
age arrangement, making in all 147 miles. See application to list in full,
V . 70, p. 849.— (V . 74, p. 774; V . 82, p. 508, 626, 691.)
A LLE G H E N Y V A L L E Y R Y .— Owns from Pittsburgh to Oil C ity, P a .,
133 miles; R ed B ank, P a ., to D riftw ood , 110 m .; others, 19 miles.
Controlled b y Pennsylvania R R . C o., which on Jan. 1 1907 owned $9,664,150 o f the $10,544,200 com m on and $16,882,201 o f the $17,173,800 o f 3 %
cum ulative preferred stock, and acquired m ost of remaining preferred. The
stockholders o f the Penn. R R . voted March 13 1906 to purchase the road,
but merger not com pleted to June 1907. V . 81, p. 1847; V . 82, p. 159, 459.
B O N D S .— General mortgage is guaranteed b y Penn. R R . b y endorsement
on each bond. Real estate mortgages Jan. 1 1907, $733,000.
In 1906, gross, $6,321,899; net, $2,056,355; other incom e, $7,909; in t.,
taxes, & c., $1,259,031; bal., sur., $805,2.34.— (V . 82, p. 159, 626, 691.)
ALLEN TOW N R R .— T op ton to K u tztow n, P a ., 4>S m .; Reading system .
ALLEN TOW N TE R M IN A L R R .— Owns 3 H miles o f railroad In Allen
to w n , P a ., connecting the East Penn. (Phlla. & Reading) with the Cent, o f
N . J. Leased for 999 years to Phlla. & R ead, and Cent, o f N. J. (by assign
ment from Lehigh Coal & N avigation Co.) at Interest on bonds and 5 % on
$450,000 stock (par $50), bonds being guaranteed, principal and interest,
b y Philadelphia & Reading (foreclosed) and Lehigh Coal & N avigation.
ANN ARBOR R R .— (See M a p Detroit Tol. & Ironton.)— Owns road from
T oled o, O ., to Frankfort, on Lake M ichigan, 292 miles; operates car ferries
betw een Frankfort, M ich., Kewaunee and M anitowoc, W ls., and Menominee
and Manistique. Mich. W abash uses T oledo terminals.
O R G A N IZ A T IO N .— Successor N ov . 1 1895 to T ol. A nn A rbor & N or.
M ich., foreclosed under Quintard-Lawrence plan in V . 59, p. 782. In
March 1906 the Detroit Toledo & Ironton R R . (which see) had acquired
$3,102,400 pref. and $2,190,000 com m on stock. V . 82, p. 508.
S T O C K .— Com m on, $3,250,000; preferred, $4,000,000; 5 % non-cum ulatlve; par $100. Pref. stock cert., “ Supplem ent” O ct. 30 1897, p. 3.
B O N D S cover entire property, Including terminals and freight boats.
A N N U A L R E P O R T .— F or 1905-06 was.in V . 83, p. 1034, showing;
Year end. June 30—
1906.
1905.
1904.
1903.
Gross earnings . . .............. $2,175,231 $1,922,593 $1,979,047 $2,037,214
Operating expenses.......... 1,391,680
1,337,364
1,475,133
1,443.761
Net earnings__________
Net i n c o m e - ....................
D educt— Interest ............
Taxes ________________
$783,551
$811,816
280,000
101,111
$585,229
$600,902
280,000
54,603
$503,914
$515,809
280,000
59,955
$593,453
$593,453
275,884
51,439
$266,299
$175,853
$266,131
B alance, surplus............ $430,705
President. Eueene Zim merman; S ec., G. Caspar Niles; A u d ., W . D . Gray.
— (V . 82, p. 508; V . 83, p. 1036.)
ARGENTINE CENTRAL R Y .— (3-ft. gauge.)— Owns Silver Plum e, C ol., to
sum m it o f Mt. M cClellan, 16 miles, at an elevation o f 14,007 feet. S tock,
$500,000; par o f shares, $100; p ractically all owned b y President. Bonds
($200,000 authorized issue. Central Savings B k., D enver, trustee) are sub
je ct to call In 1912 at 106 and Interest: a sinking fund will provide " fo r full
paym ent at m atu rity .”
V. 83, p. 1170. President and T reas., Edward
J. W ilcox
Office, Colorado F ld g., D enver, C ol.— (V . 83, p. 1170.)
A R K A N SA S 1MIDLAND R R .— Owns from H elena, A rk ., to Clarendon
47 miles. Capital stock , $1,500,000, was In 1901 acquired b y Mo. Pac.
(St. Louis Iron Mountain & So. R y .). V. 74, p. 206, 574. Bonds, $176,000 first gold 6s, due July 1 1911, subject to call at 110; Int. J. & J. Year
ending June 30 1906, gross, $110,188; net, $41,927; total deductions,
$19,519; b a l., sur., $22,408. P res., George J. G ould.— V . 72, p. 935.
A SH E V ILLE & SPAR TA N B U R G R R .— See Southern R y ., Carolina D lv .
A SH LA N D COAL &. IRON R Y .— Ashland to Straight Creek J e t., K y .,
22 m . Cbes. & Ohio has trackage over this road. The mining Interests
w ere In Jan. 1902 transferred to Ashland Iron & Mining C o., stock being re
d u ced from $1,547,000 to $773,500. B onds, see V . 71, p. 27. Year end
ing June 30 1906, gross, $129,512; net, $56,673; Interest and taxes, $24,056;
Im provem ents, $1,317; dividends ( 4 % ), $30,940; balance, surplus for year,
$361. Loans and bills payable June 30 1906, $64,823. Dividends In
11895-96, 4 % ; In 1896-97, 4 % ; In 1897-98, 4 % ; in 1898-99, 4 % ; In 1899-1900,
f % ; June 1900 to June 20 1902, 6 % yearly (1 >4% Q -M ), and In June 1902
3 % extra; Sept. 1902 none; D e c., 1 % ; since to June 1907, 4 % yearly (Q -M ).
P res., R obert Peebles; Sec. and T rea s., Frank H M oore.— V . 77, p. 1532.)
$7,000,000
75,000
773,500
300,000
3,280,000
555,000
103,001,000
114,173,730
1,500,000
560,000
146,634,500
24,079,500
27,648 500
6,128,000
17,500,000
47,714,000
See text.
195,000
6 ,000,000
7,173,000
4,090,000
8 ,000,000
1,720,000
1,700,000
500,000
4,250,000
750,000
[V o l . l x x x v .
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Q— J
4 &
J & J
6 g
See text. O— M
M & N
4 g
4 g
F & A
4 g
J & J
See te x t .!J & D
5 In 1907 F & A
6 curiM & S
J
& J
5 g
A & O
4 g
Nov
4 g
M & N
4 g
M & S
4 g
F & A
4 g
J & D
4 g
J & D
5 g
J
& J
5 g
A & O
5 g
J
& J
5 g
J
& J
5 g
M & N
5 g
5
J
& J
7 In 1906IM & S
J & J
434
J & J
J & J
434
1,500,000
4 g
1,232,200 See text.
1,232,200
6
2 ,200,000
5 g
75,000
4J4
350,000
5 g
1.850,000
4 g
12,600,000 10 inl906
5,000.000
5 cur
5,000,000
4
4
3,000.000
J & D
J
& J
J
& J
M & N
A & O
A & O
J
& J
Q— M
J & D
J & J
J
& J
Where Payable, and by
Whom.
M etropolitan Tr Co. N Y
4th Nat B k. N Y; & Den
Check from C o.’s office
New Y ork Trust Co. N Y
1Bonds— P rin ci
pal, When D u e.
Stocks— Last
Dividend.
Central Trust Co. N Y
Checks mailed from N Y
do
do
5 Nassau Street, N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Old C olony Tr Co, Boston
do
do
Trust C o .o f A m erica,N Y
N W Harris & Co, N Y
U S Mor & Tr Co, N Y
do
do
do
do
do
do
July 1 1995
Jan 1 1926
June 20 1907 1
May 1 1925
A ug 7 1996
July 1 1928
June 1 1907 3
A u g 1 1907 2 } i
March 1 1915
Jan 1 1937
Oct 1 1995
July 1 1995
July 1 1995
March 1 1928
Feb 190 *1 9 14
June 1 1955
June 1 1917
Jan 1 1928
Oct 1 1940
Jan 1 1936
Jan 1 1934
May 1 1910
Jan ’08-July ’ 17
Mar 6 1907 3
Jan 1 1910
Jan 1 1910
Jan 1 1910
Standard Trust Co, N Y
A tlanta, Ga.
do
do
Reading Term B ldg, Phil
do
do
Philadelphia
do
Baltimore
In 1906 paid 5 %
In 1907 paid 4 %
In 1907 paid 4 %
June 1 1953
See text.
Com pany’s o p t.
May 1 1919
April 1 1930
April 1 1948
July 1 1951
June 101907 2 H
Irredeem able.
July 1 1907 2 %
Jan 1 1925
ASH LA N D & W ESTERN R Y — V . 83, p . 1468, 1589; V . 84, p . 692.
A STO RIA & COLUM BIA R IVE R R R — Goble to Seaside, O re.. 79 m .:
branch, W arrenton to New A storia, 2 m .; trackage, Goble to Portland, 40m .;
total, 121 miles. Extension proposed in April 1907 from Seaside to Tilla
m ook, Ore., 47 miles. Stock, $1,619,000; par $100. In 1907 acquired b y
Great Northern and Northern Pacific. V . 84, p. 867. Year ending
June 30 1906, gross, $569,299; net, $259,018; charges, $151,629; b alance,
surplus, $107,389. Pres., C. M. L evey .— (V . 84, p. 867.)
ATCHISON & EASTERN B R ID G E .— Owns railroad and wagon bridge at
A tchison, K an., connecting with the union station. Used b y the A tch.
T od . & Santa Fe, the Chic. R . I. & P ., the Mo. Pac. and the Chic. Burl. &
Quin. A reorganization o f the Chic. & A tch. Bridge Co. foreclosed Mch. 4
1898, per plan V . 65, p. 366. S tock, $700,000; par, $100 per share. A sink
ing fund equal to the difference between the annual Interest on the outstand
ing bonds and $30,000 will retire bonds yearly at par and Interest (b y lot
If not purchasable in the open m arket). The follow ing official statem ent
was furnished to the Inter-State Comm erce Comm ission, but the com pany
pronounces it improper for publication here, possibly because the wagon
and miscellaneous receipts m ay not be Included: Year ending June 30
1906, gross, $117,045; net, $95,369; other in c., $12,838 int. and sinking
fun d, $29,051; d iv ., $35,000; b a l., sur., $44,156. Pres, and T reas., H . P .
F.ells, Cleveland, O .— (V . 67, p. 578.)
(THE) ATCHISON T O P E K A & SANTA FE R Y .— (See M a p .)— T he sys
tem operated July 1906 com prised 8,444.72 miles o f railroad, and em braced
an unbrcken line o f t*ack from Chicago, 111., via Kansas City, M o., and A l
buquerque, N. M ., to the Pacific Ocean; also to Galveston. T e x ., and th e
Gulf o f M exico. For operating purposes the system is divided as follow s:
M iles. |
M iles.
A tchison T . & S. F _________6,861.521 R io Grande & El P a so ______
20.17
Gulf Colo. & S. F ___________ 1,433.861South Kans. R y . o f T e x ____ 129.17
Total of all June 30 1906____ __________ _____________ _________ ..8 ,4 4 4 .7 2
A lso controls through ownership o f securities various com panies owning
1,093 miles, o f which the Pecos Valley & N. Eastern, Santa Fe Prescott &
Phoenix and Denver Enid & G ulf, aggregating 740 miles, are included in
operations as system lines from July 1 1906. This Is exclusive of 393 miles
o f new lines under construction substantially com pleted on last-named date.
In 1900 acquired control o f Gulf Beaumont & K . C. and Gulf Beaumont
& Gt. N orthern, which are leased. V . 76, p. 751; V . 77, p. 1224; also th e
A rizona & U tah, 22 miles. V . 82, p. 48. In A pr. 1906 the Texas & G ulf,
Longview to Tim pson, T e x ., 60 miles, was acquired, and In A ug. 1906 the
Arkansas V alley R y ., p rojected from Lamar to R o ck y F ord, C ol., 80 miles,
o f which 40 miles com pleted. V . 82, p. 99, 867; V . 83, p. 379, 562. Leases
Cane Belt R R ., 105 miles (entire stock ow n e d ), for 50 years from July 1905.
O R G A N IZ A T IO N .— This com pany was organized on D ec. 12 1895 under
the general laws o f Kansas b y the purchasers at foreclosure sale o f th e
property and franchises o f the A tchison T . & Santa Fe R R . C o., In accord
ance with a reorganization plan. V . 60, p. 658.
The railway com pany In July 1906 owned In fee 8,401 miles o f the system ,
and also all, or nearly all, the bonds and stocks o f the various com panies la
which the title to the other lines is vested. V . 6 8 , p. 974. A list o f such
holdings Is in the general m ortgage (In V . 62, p. 732, 733, and successive
annual reports). See V . 69, p. 1300; V . 71. p. 27. C onsolidation o f co n
trolled companies (April 1907), V. 83, o . 1347: V . 84, p. 867.
San Francisco & San Joaquin Valley R y . was merged in June 1901.
Cut-off from Belen, N. M ., to T exlco, 250 miles, shortening the main line
a bou t 200 m iles, was com pleted in Jan. 1907. P roposed cu t-o ff from.
B row nw ood, T e x ., to T exlco, 350 m iles, with branch, 125 miles. V . 75.
p. 28, 980; V . 81, p. 987, 1099, 1375; V . 84, p. 219.
Has a join t interest with the Southern Pacific In the N orthwestern Pacific
R R ., incorporated Dec. 31 1906 as a consolidation (see th a t co m p a n y ).
S T O C K .— The preferred stock has preference as to assets and non-cum ulatlve dividends not exceeding 5 % per a nn., as declared b y the board o f di
rectors out o f net profits. N o other m ortgage and no Increase In the pre
ferred stock can be m ade w ithout consent o f m ajor t v o f all preferred stock
outstanding and o f a l com m on stock represented at a m eet ng. T h e
total authorized am ount o f preferred stock Is $ 1 3 i,486,000. o f which $10,800,000 is reserved to acquire other lines; also $6,486,470 In special trust
for Im provem ents, extensions, &c. P ref. stock certificates In Supplem ent
o f April 1897, p. 3. In 1906 Oregon Short Line (U nion Paclfle) purchased
$10,000,000 pref. stock. V . 84, p. 50, 569.
Stockholders voted Jan. 30 1907 to increase the authorized com m on
stock from $152,000,000 to $250,000,000 and also not exceeding $98,000,000
bonds, to be con vertible Into com m on stock. O f the con vertible bonds
stockholders were offered $26,055,000 at par In J u ly 1907. See BONDSbelow . V . 83, p. 1347, 1468; V . 84, p. 219, 389.
D I V ’S ( % ) . 1899. 1900. 1901.
1902. to 1905.
On com m on ___ 0
0
3H
4 yearly (J& D )
On p re fe rre d .. 2
4
5
5 yearly (F& A )
In 1906, on com m on, June, 2 % ; D ec.,
1906.
1907.
See below June, 3
5
5
B O N D S .— The Gen. M ort. (A bstra ct V . 62, p. 731-759, see also V . 6 8 ,
p. 974) gives a lien, either b y direct m ortgage or b y collateral trust, on t h e
entire system o f 7,737 miles o f railroad ow ned, together with all the equip
ment and terminals owned b y the com p any, and future acquisitions.
General mortgage 4s (limited to $165,490,500.)
---------Reserved--------a T o retire guaranty fund notes paid and car trusts In 1895.
In 1906.
at not exceeding $1,250 for each $ 1,000 o f old bonds$l 5 ,500.000*2,339,38S
I) Non-assenting bonds from reorganization o f 1 8 8 9 ..
1,500,000
504,960
c Chicago & St. Louis 1st m ortgage 6s ........................... 1,500,000 1,500,000
For im provem ents, terminals, second track, equip
m ent, & c., at not exceeding $3,000 000 yearly, of
which not over $750,000 for extensions.................... 30,000.000 5.615 101
For acquisition o f Atlantic & Pacific and other lines. . 20,000,000 6,731,5341
11
RAILWAY STOCKS AND BONDS.
J u l y , 1907.;
12
RAILWAY STOCKS AND BONDS.
[V ol .
lxxxv.
J u l y , 1907.]
Ham ilton
W I S C CK^f S I
Madison
13
RAILWAY STOCKS AND BONDS
O swego
.N iagara *^£££*£2*
i) Falla BochesterE
J O N T A R IO '
Grand Bapids
r e
St. T h o m a s ^ ,,--------
H
V
hvaukee]
ER/ / I I A M t
U tican.
/M I C H I
{en ton H arbq^ A —
'Ja ck son D etrj
(F reep ort
^ j NEW
C on fco rd V
f
(o s to n
ElmIn
Bradford
'« ^ \ l ) r l ft w ood
X lev ela i
L a S a lle ’
nnond
W ellin g ton \
.Defiance
.Bav\
Deshler/
e8Vurg
^ u riln gt^ p peorii
Bloomington*'
n
\\
p rrX T , L ock H j % n W ilkeSbarr^
N ew CAaUer D uB ols
>
v ^ -^ c P ^ itle r
/
n
^ P 7 / y N N S /Y
jgausnort
-^ M ftC gh eny
Lim a
Delaware
D e ia tu r
^L-— '"7
/
I
l
v
/P h iW fc
y '* v^ 4L/Hyndman
tagerstow iv
it
i
N /I
— ' .---- / /Rea
-HaTrub'^A^r
'lie e li iig ^ n o n n e l la v i lle
SprlngBeld^J^^ r
It T
L ~VR A
BE"ft1
—-^<pittib^r /
m ond
.Effingham
Cincinnati
ilexanl
incennes
N ew Alban;
fern oi?
'm yutow n
Ashland
iLevcington
[Louisvill
ransville
dODBVilj^R
P t'jy W iiic h e s te r
)R lc)im on d
fendersoi
e
| /ir
• ai
q
/Charles
Corbfn
I
"LlvJ
J B o w lin g Green I
Lynchburg
/G ra h a n V
D anville,
k dgetiel.l
J c .jf
■Nashville
J JlemnlH
?\
C h a tta n o o g a ^
^ L .a k e
Toxaw ay1
>ecat.ur
Gold sb oro
Cheateiv
J
Cullm an,
^
B ern .
ilacksburfT
[rters v ill*'
* A tta lla -X
n. N ew
H eudereouVqie- C harlotte'
Spartanbui
jfohu^?BlutBidge
B rink y<d
\C A /R '
■S prings
V y ^ M a
"^ sA s h ev llle
^
fS & '*A
OoltkVfM,
W eldon.
ir W n s b o r o f'> '
T T » ^ y>CSJ C * fCJ
Columbia T u ll a h o m ^ ^
JM!ddletV>n
N orllnaj
R ural Hall
/
SC-----— ___ ________ (J
jHimlow Bock.
[Jackson.
Newtf
Suffoll
jGuthrl
HBa.fd K not
[Petersburg
B adford
Carllsh
Camden
(w ood'
a lc /y S l
Florence
jonough.
j ?. Camak
WiUOllH
Urmingkaiifl
B lack vllle
TuscaloosjVX Calera]
?ston
oy vvTV,
'nrantl
T o l umbi
V - '•Selma
^^v^ ^ A ^ h Jjyu n r
AzTxJaeksdn
A lb a u y ^ ^ ;^
,07.ark<
he?
1
LaV
'
^iesburgy?-
’Dothai
irunswiek
/ Andalunias
qJfTFIomaton
I ' ekyl I.
jBWDERLAND I.
Vrmandina
^restric^
>8RCO
Blver Jcg
l%Beach
lg^fcistine
LOUIS]
[Fairfit
Cedar
S ilver
L Sprs. \ l
\ San ford'
jt h e r a u
MAP
A T L A N T A ,
OF THE
B IR M IN G H A M
AND
A T L A N T IC
V
R A IL R O A D
AXD
Brunswick Steamship Company
14
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, A c ., see notes
on first page of tables.
Atlantic Coast Line RR— Stock com m on (t e x t )______
Class “ A ” com stock ta x exem pt (R ich & Pet ctfs)
Preferred stock 5 % _________________________________
First consol M $80,000,000 gold t e x t ______ Us.c*& r
Col tr M gold secured b y L & N stock red 1 05.c*& r
1st M on Jackson & Sow. $2,000,000 gold ..S B a .c*
Certificates of Indebtedness (new) $25,000,000_____
do
do
(old) .................................
N otes, $5,000,000, g o ld . _____________________ c&r
Equip, tr. notes, gold, $225,000 due s. a . . . SBac*
Bonds Underlying F irst Consolidated 4s.
N orth East (S C) cons M gold Flor to Charleston __c
W ilm ington Col & A ug 1st M (W llm ’ton to Columbia
A tlantic C L o f S C gen 1st M (1st on 355 m )g.S B a.c*
Petersburg M class A g o l d _______ _____ ______ ____
do
do class B gold (Petersburg to W e ld o n ).
R ichm ond & Petersburg 1st M ($24,500 are 7 s )____
Consol M g (R ichm ond to Petersburg etc.) -C e ..c *
W ilm & W eldon gen M ($938,000 are 4 s).S B a .g*c
W ilm ington & N ewBern 1st M gold assum ed.SBa
Nor & Car 1st M gold (P P t V a to Tar N C ) ____Ce.c*
Second m ortgage g o ld _____________________SBa.c*
Sav Fla & W 1st M gold ($2,444,000 are 5s) -M p .c*& r
Charleston & Savannah general M g o ld ____SBa.c*
Bruns & W 1st M Brunswick to A lbany g gu__M p.c
Alabam a Midland 1st M g (Balnb to Montg) .M p .x c
Florida Southern 1st M $5,000,000 g o ld ____AB.c*
Sanford & St Petersburg 1st m ortgage g o ld ___PeP
A shley R iver first m ortgage.............................................
Sll Sp O & G 1st M gold (Ocala to Inv & br) ..T a .c *
W ll & W ei ctfs of lndebt for dlv 1887 non-cum inc
Atlantic & Danville— IstM $4,425,000 g lnt rentM e.c* _
Second m ortgage $1,525,000 gold int ren ta l____Ta
Atlantic & North Carolina— S tock $1,800,000_________
First m ortgage $325,000_____________________MeBa
Atlantic & St Lawrcnce— Stock 6 % rental Grand T r’k
Atlantic & Western— First M $3,000,000 g o ld ____IB
Augusta & Savannah— Stock 5 % rental Central o f Ga
M ile* Date
of
of
Road. Bonds.
...
3,885
104
_
...
___
...
102
239
696
68
68
22
27
479
90
110
110
547
111
169
174
244
145
4
64
...
275
275
_
98
165
53
....
_.
1902
1902
1904
1902
1900
1907
1907
1883
1880
1898
1881
1881
1875
1890
1885
1897
1889
1896
1884
1886
1887
1888
1895
1894
1877
1888
1887
1900
1904
_
1887
1903
---
Size, or
Par
Am ount
Value. Outstanding
[V o l . l x x x y .
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom
Bonds— P rin ci
pal, When D u e.
Stocks— Last
Dividend.
$100 $47,537,600 6 In 1907
100
1,000,000 6 In 1907
1,596 600 5 In 1906
100
1,000 &c 47,322.450
4 g
1,000 &c 35,000,000
4 g
778,000
1,000
4 g
100 &c 21,566,600
4
4
100 &c
500
1,000 &c
5,000,000
5 g
1,000
4,500,000
4 g
J
J
M
M
M
J
M
J
M
M
&
&
&
&
&
&
&
&
&
&
J
J
N
S
N
D
N
J
S
S
Treas Office, W llm , N C
do
do
do
do
U nited States Tr Co, N Y
J P Morgan & Co, N Y
Safe Dep & Trust Co,Balt
Treas Office, W llm , N C
do
do
United States Tr Co, N Y
U S T r Co, N Y and Balt
July 10 1907 3 %
July 10 1907 3 %
May 10 1907 2 H
July 1 1952
Oct 1 1952
D ec 1 1954
Irredeemable.
Irredeem able.
Mar. 1 1910
T o Mch. 1 1917
657,000
6 g
1,600,000
6
5,547,000
4 g
868,000
5 g
800,000
6 g
6 &7
340,500
300,000
4K g
4,000,000 4 g & 5 g
106,000
4 g
1,320,000
5 g
400,000
5 g
6,500,000 5 g & 6 g
1,500,000
7 g
1,407,000
4 g
2,800,000
5 g
2,418,000
4 g
275,000
4 g
33,500
8
492,000
4 g
1,000
7
3,925,000
4 g
775,000
4 g
1,797,200 See text.
325,000
6
5,484,000
6
100,000
5 g
1,022.900
5
J
J
J
J
A
M
A
J
F
A
J
A
J
J
M
J
J
J
J
A
J
J
F
J
M
J
J
&
&
&
&
&
&
&
&
&
&
&
&
&
&
<5c
&
&
&
&
&
&
&
&
&
&
&
&
J
D
J
J
O
N
O
J
A
O
J
O
J
J
N
J
J
J
J
O
J
J
A
J
S
J
J
Cuyler Morgan & Co, N Y
First Nat Bk, N Y ; & Balt
Safe Dep & Trust Co,Balt
Richm ond Office.
do
do
do
do
Brown Bros, N Y
First Nat B k, N Y ; & Balt
Safe Dep & Trust Co,Balt
Central Trust Co, N Y
Safe Dep & Trust Co,Balt
U nited States Tr Co, N Y
do
do
do
do
M etropolitan Tr C o, N Y
United States Tr Co, N Y
do
do
Asst Treas, Chariest’ n SC
United States Tr Co, N Y
Treas, W ilm in g ton , N C
Mercantile Trust Co, N Y
Trust Co of Am erica, N Y
Check from C o .’s Office
Nat Mechanics’ B k, Balt
L ondon and Portland.
International Tr Co, Bost
Savannah, Ga.
Jan 1 1933
June 1 1910
July 1 1948
July 1 1926
Oct 1 1926
M ay 1 1915
April 1 1940
July 1 1935
Aug 1 1947
April 1 1939
July 1 1946
April 1 1934
Jan 1 1936
Jan 1 1938
N ov 1 1928
Jan 1 1945
Jan 1 1924
Jan 1 1915
July 1 1918
Irredeem able.
July 1 1948
July 1 1948
Feb 1 1 9 0 7 1 X
July 1 1917
Mar
1907 3 %
Jan 1 1944
July 5 1907 2 H
1,000
1,000
1,000
1,000
1,000
500 &c
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 &c
1,000
1,000
1,000
______
1,000
100
1,000
1,000
100
1,000
£ & $100
1,000 &c
100
The Adjustment Mortgage (A bstract V. 62, p. 739) Is to the Central Trust
D IV ID E N D S begun in 1855 were for m an y years 8 % per annum. F rom
Co. as trustee. Interest Is payable only out o f net earnings up to 4 % In each July 1 1884 to July 1901 inclusive, 6 % yearly, J .& J .; O ct. 1 1899, 25 % e x
ear, cum ulative since July 1 1900. Present Issue Is lim ited to $51,728,000, tra (V . 69. p. 590); 1902 (7); 1903, 6 % ; 1904, 6 % ; 1905, 6 % .
ut when the 530,000,000 general 4s authorized for Improvements as above
In 1905-06, gross, $1,043,973; net, $397,681; other incom e, $12,860;
have been Issued, $20,000,000 additional adjustm ent 4s m ay be Issued for charges, $315,506; dividends, $73,932; surplus, $21,103. In 1904-05,
the same purpose at not exceeding $2 ,000,000 In any one year, but only b y a gross $913,208; net, $360,164.— (V . 69, p . 590; V . 71, p. 963.)
m ajority v ote o f the adjustm ent bondholders. Interest— In N ov. 1897
A TLAN TA B IRM IN GH AM & A TLAN TIC R R .— (Sec M a p .)— Bruns
paid 3 % ; since, full 4 % yearly.
ick to La Grange, G a., 287 miles; Sessoms to W aycross, G a., 26 m iles;
The Eastern Oklahom a division 4s of 1903 ($10,000,000 authorized) will w
Fitzgerald
T hom asville, G a., 81 miles; branch, Bushnell to Crystal Lake.
be Issued for extensions; the present Issue of $6,128,000 Is secured on lines 33 miles; to
Alabam a division, Talladega to A shland, 32 m iles, acquired
comDleted In 1904. v iz.: Paul’s Valley to Newkirk. Ind. T er., & c., a total Sept. 1 1906;
total April 1907, 459 m iles. (V . 84, p. 1426; V . 80, p. 115.)
o f 306 miles. V . 76, p. 434; V . 79, p. 1331; V . 84, p. 1549.
Is engaged in building an extension from M ontezum a. Ga., to Birming
The $30,000,000 debenture 4s o f 1902 were Issued to pay iOr new equip
. A la ., 261 m iles, with branch from W arm Springs to A tlanta, 77 m iles.
m ent, new m ileage, permanent im provem ents, & c.; $2,500,000 paid off ham
O
f
this, M ontezum a to La Grange was operated in Anril 1907; balance e x
yearly. N o new m ortgage on lines owned when the debentures were Issued pected
to be in 1908. Contract for branch from Bessemer, A la ., to M ulgay,
can be made without securing debentures thereunder. See statem ent, 14 miles,
was let in June 1907. Terminals at A tlanta and Birmingham and
V . 74, p. 150, 204; also V . 75, p. e s o .'^ T h e debentures are paid from cash in steamship
connection at Brunswick have been secured. The A tla n tic &
the treasury and not included in the incom e accou nt. V . 77, p. 2338.
R y . was merged in April 1906. See V . 82, p. 867; V . 83, p. 35,
The 4s o f 1905 ($50,000,000 authorized Issue) are convertible at par be Birmingham
1290. The Georgia Term inal Co. and the Alabam a Term inal R R ., each
tween June 1 1906 and June 1 1918, and m ay be called at 110 on any Interest having
$1,500,000
stock, all ow ned b y the railroad com pany, will provide
da y, but when called m ay be converted Into stock provided the tim e for con
inals at A tlanta and Birmingham, respectively. V . 84, p. 1426.
version has not expired. N o new m ortgage on lines owned Jan. 1 1905 shall term
Brunswick SS. Co. operates betw een New Y o rk , Brunswick and H avana,
be made without securing the convertible bonds thereunder. V . 79, p. Cuba. V . 82, p. 1267; V . 83, p. 35, 1290.
2695; V . 80, p. 649; V . 81, p. 1174; V . 82, p. 391, 867.
authorized, $25,000 com m on and $10,000 5 % non -cum . preferred
Stockholders on Jan. 30 1907 authorized the issue o f $98,000,000 o f co n perSTOCK
m ile; par o f shares, $100; issued May 1907, $16,170,700 com m on
vertible bonds. O f the bonds, $26,060,000 o f 10-year 5s, part o f an issue and $8,180,700 preferred. Outstanding in the hands o f the public June
o f $30,000,000, were offered to stockholders at par, payable 3 0 % on sub 1906, $9,743,800 com m on and $4,822,000 preferred A dditional am ounts
scription, 3 5 % between Jan. 5 and 10 1908 and 3 5 % between June 5 and
June 10 1908 or in full on any o f said dates. The bonds are convertible into to be deposited under collateral trust notes, see below.
B O N D S .— O f the 5s o f 1906 ($30,000 000 authorized issue), $25,000 are
com m on stock at par to June 1 1913 and m ay be called at 110 on any inter
per mile o f main line and branches, with $10,000 additional for
est day, but when called m ay be converted into stock provided the time Issuable
track, an am ount equal to the par value o f prior liens being reserved
for conversion has not expired. No new m ortgage on lines owned Jan. 1 second
retire the same. N ot exceeding 33 1-3% o f this aggregate amount m ay
1907 shall be m ade without securing the 5s o f 1907 thereunder. The stock to
Issued for equipm ent and not over 30% for terminals and shop facilities.
holders subscribed for about $9,500,000 o f the aforesaid $26,000,000. be
Three years coupons were clipped from $1,970,000 bonds Issued to retire
V . 84, p. 1051, 1112; V . 85, p. 97.
preferred stock o f old com pany. In April 1907 $7,173,000 bonds were
F IN A N C E S .— Bonds per m ile J u ly 1 1906, $28,355. In 1906 the divi outstanding in the hands o f the p ublic. V . 84, p. 1426. A dditional
dend rate on the com m on stock was raised to 5 % and in 1907 to 6 % . V . 84, amounts will be deposited under collateral trust notes, which see below .
p. 803. A s to authorization o f con v. bonds and stock in 1907, see above.
The collateral trust 5% notes ($8,000,000) sold In May 1906 are a join t
obligation o f the railroad and the A tlantic & Birmingham Construction Co.
L A T E S T E A R N IN G S .— U 9 06 -0 7-G ross, $85,826,809; n et, $31,882,889
and will provide for com pletion o f the road and pay for steam ships, equip
11 m os., J u ly 1 to May 3 1.11905-06.Gross, 74,072,918; net, 28,051,429
m ent, coal and Iron purchases, water terminals at Brunswick and shops.
D educting taxes and rentals, balance for interest in 11 m onths o f 1906-07
was $29,546,076, against $25,862,296. R oad operated, 9,332 average miles The notes will be secured b y deposit o f $6,000,000 A tlanta Birmingham &
A tlantic first m ortgage bonds as earned and $4,600,000 preferred and $10,
In 1906-07, against 9,199 miles in 1905-06.
R E P O R T .— Annual m eeting third Thursday In October. R eport for ’ 000,000 com m on stock (a m ajority o f b oth classes) ana $1,206,000 equip
m ent notes o f the R R ., entire stock ($3,000,000) o f Birmingham Coal C o.,
year 1905-06 was given in V . 83, p. 810, 832; see also page 788.
owning 5,000 acres o f coal lands, and the Birmingham Iron C o., owning
Years ending June 30—
1906.
1905.
1904.
1903.
30,000 acres o f coal and 3,600 acres o f Iron ore (the latter subject to a $2,
A verage miles op erated .
8,434
8,305
8,180
7,965
000,000 m ortgage), and the entire stock and bonds ($ 1 ,000,000 each) of
Freight earnings_______ $54,598,903 $47,408,982 $47,762,653 $44,622,439
Brunswick S. S. Co. V . 82, p. 1267; V . 83, p. 35, 1290; V . 84, p. 270.
P a ss en g er_______ ______ 18,013,988 16,045,380 15,433,774 13,469,986
Equipm ent obligations Feb. 28 1907, $1,560,055.
M all, express, & c______
5,431,456
4,921,475
4,974,773
4,257,973
The con trolled com panies, the Georgia Term inal C o., A labam a Terminal
R R . and Birmingham Coal & Iron C o., in 1907 sold $3,000,000, $2,500,000
T otal e a r n in g s ............$78,044,347 $68,375,837 $68,171,200 $62,350,398
and $2,000,000 bonds, respectively. V . 84, p. 1427, 1551.
Operating ex p e n se s ____ 48,497,518 45,517,384 42,222,032 38,437,110
L A T E S T E A R N IN G S.J1906-07............ Gross, $1,499,477; net, $352,474.
11 m os., July 1 to May 31.) 1905-06______ Gross, 1,025,824; net, 269,111.
Net earnings_____ ,..$ 2 9 ,5 4 6 ,8 2 9 $22,858,453 $25,949,168 $23,913,288
R eport for year ending June 30 1906, in V. 83, p. 1093, showed on 324
T otal net In co m e ______ $30,893,230 $23,672,355 $27,197,942 $25,231,281
miles, gross, $1,128,327; net, $349,343; other Incom e, $5,598: interest and
R ent o f tracks, &0_____
225,936
293,553
386,464
361,204
Taxes ................................ 2,118,633
1,926,696
1,916,137
1,758,120 taxes, $271,082: balance, surplus, $73,858. President, H. M. A tkinson,
A tlanta, G a.; Secretary, R . E . Culllnane. O ffice, A tlanta, Ga.
Interest on b on d s______ 10,622,184
9,611,510
9,418,800
9,134,485
Directors— H . M. A tkinson, P. S. Arkwright Morris B randon, Geo. D ole
Dividends on p re f., 5 % . 5,708,690
5,708,690
5,708,690
5,705,690
Dividends on co m ., 4 % . 4,078,220
4,078,220
4,078,220
4,078,220 W a d le y , G. W . Brine, R . E. Culllnane, H . M. M ilam , F. M. Sisk, W . B .
M iscellaneou s...................
412,253
98,250
116,800
79,140 Stovall, A tlanta; Gordon A b b o tt, B oston; A . D . Russell, P ercy R . Pine,
F. L. Eldrldge, New Y ork; W . A . H andley, R oan oke, A la .; Cecil Brow ne,
4,500,000
____ _
____
______
Im p ’ts written o ff______
T alladega.— (V . 84, p. 270, 1365, 1426; V . 85. p. 39.)
B alance, surplus..........$3,227,314 $1,955,436 $5,572,831 $4,111,422
ATLANTIC C ITY R R .— Camden to A tlantic C ity, 57 m. (double track)
O F F IC E R S .— Chairman o f E xecu tive C om m ittee, V ictor Morawetz; E . branches, W inslow Junction to Cape M ay, N. J .. 54 m .; W llllam stown, 23m .;
P . R ip ley, President; D . L. Gallup, C om p.; H . W . Gardiner, Asst. Treas. Gloucester, 12 m .; Sea Isle CKy, 12 m .; Ocean C ity, 10 m .; tota l, 168 miles.
D irectors.— Charles Steele. Edward J. Berwind, Geo. G. H aven, H. H. V . 72, p. 1278. S T O C K , co m ., $2,625,000; p ref., $1,000,000 (par. $50).
R ogers, H. Rlem an D uval, Thom as P. Fow ler, V ictor Morawetz, New Y ork; Reading Co. owns over 9 9% o f stock , and guarantees consol. 4s, principal
John G. M cCullough, V erm ont; B. P. Cheney, Boston; Edward P. R ip ley, and Interest. Form o f guaranty, V . 75, p. 1398. Of the latter, $2,650,000
B yron L. Sm ith, Chicago; Andrew C. Jobes, W ichita; H owel Jones, Charles are reserved to retire prior lien bonds. See V . 73, p. 81. There are also
outstanding $23,500 Sea Coast R R . series A 5s and $2,834 series B 5s.
S. Gleed. Topeka; H . C. Frick, Pittsburgh.
For year ending June 30 1906, gross, $1,706,642; net, $333,280; fixed
O F F IC E .— 5 Nassau S t., N . Y . — (V . 84, p. 1549; V . 85, p. 97.)
charges and taxes, $212,959; balance, surplus, $120,321.— (V . 82, p. 750.)
A TLAN TA & CH ARLOTTE A IR LINE R Y .— (.See M a p Southern RailATLAN TIC COAST LINE CO.— (See M a p .)— Organized May 29 1889
wav System .)— Owns Charlotte, N . C ., U) A tlanta, G a ., 269 miles.
The operating contract o f 1881 accepted b y the Southern R y. requires the under the laws o f C onnecticut, and owns a m ajority o f capital stock and a
p aym ent o f Interest on A t. & C. d ebt and 5 % on stock; if gross earnings ex large am ount o f the bonds o f the A tlantic Coast Line R R . below .
S T O C K .— A s to certificates of Indebtedness, see editorial O ct. 1897,
ceed $1500,000, dividends to b e 6 %, and if they exceed $2,500,000, 7 %.
In 1907 the bonds (three Issues) were extended 3 years. V. 83, p. 1347. Supplem ent, p. 3. V . 65, p. 564; V . 71, p. 1310. In 1898 $5,000,000 stock
S tock largely deposited with a com m ittee, W . Emlen R oosevelt, Chairman was distributed as a 100 % dividend (V . 67. p. 954 ). and In 1900 $10,000,000
(IT. S . Mtge. & Trust C o., depositary), until May 1 1910, to prevent In 4 % certificates o f Indebtedness (Including $5,500,000 of Atlantio Coast
Line R R . C o .), also a 100% dividend. V . 71, p . 697; V . 73, p. 493. In
crease o f m ortgage debt unless stock is recom pensed. V . 83, p. 1410.
1906 stockholders subscribed for $2,100,000 stock at par. raising am ount
D IV ID E N D S , 1 1881 to ’89. 1890. 1891 to Mch. ’01 inch
Since
outstanding
to $12,600,000. As to securities pledged to secure equally
P ercen t—
I 5 yearly.
6 yearly (M. & S.) 7 y rly.(M & S .l the certificates
o f Indebtedness, see V. 71, p. 1310; V . 83, p . 560.
L A T E S T E A R N IN G S .— 11907................ Gross, $719,438; net, $119,341
CASH D IV S .— 1 ’97. ’ 9*. ’99. ’00. ’01. ’02. ’03. ’04. *05. '0 « . 1907.
JLmos., March 1 to Apr.ll 3 0 .J 1 9 0 6 .________Gross, 686,464; net, 142,267
P e rc e n t.
j SH 4 4 H
8 * 0
j o In cl.Jn e,5
E A R H IN G S .— For year ending F eb. 28 1907, gross, $4,169,423, against
Balance sheet June 30 1900, V. 83, p. 560. Chairman o f B oard, Henry
$3,975,698 in 1905-06. Pres., C. S. Fairchild, N . Y .— (V . 83, p. 1410.)
W alters. D irectors, O ct. 1906, V . 83, p. 890.— (V. 83, p. 890.)
A TLAN TA TB RM IN A L Cf>,— Owns union passenger station opened
ATLAN TIC COAST LINE R R .— (See M a p .)— Operates from R ichm ond
May 14 1905, with approaches, used b y Southern R y ., Central o f G eorgia
and N orfolk, V a ., on the north, to F ort Myers, P o ft Tam pa and R iver J et.,
R y , and A tlanta A W est Point R R . S tock , $75,000, owned in equal p ro F la ., on the south, and Monfcrome^y, A la ., and Augusta G a ., on the west
p ortions b y the three com panies nam ed, which pay all charges and e x reaching the ports o f N orfolk, V a .; W ilm ington, N. C ., C harleston. S . C.
penses on car basts. V . 78, p. 593, 1394; V . 77, p. 699.
Savannah and Brunswick, G a .. and Jacksonville and P ort T am p a, Fla.
A TLAN TA & W EST POINT R R .— A tlanta. G a., to W est P oint, G a..
O R G A N IZ A T IO N .— Ortrlnally the A tla n tic Coast Line o f V a. (change o f
8 6 miles. Georgia R R ., June 30 1903. owned $547,200 stock and $388,900 name being authorized April 28 1*00); April 18 1900 absorbed b y consolida
deb. oert. A belt line around A tlanta, 5 Y, miles, is operated at rental o f tion (per plan V . 70, p. S M , **3) the following allied properties: W ilm ing
$16,000 yearly. 4 % on tts cost. V . 71 p . 863; V . 73, p 1354.
ton & W eldon R R ., A tlantio Ooast U n e railroads o f South Carolina and Vlr*
J u l y , 1907.]
RAILWAY STOCKS AND BONDS.
15
16
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
Tor explanation of column headings, <fcc., see notes
on first page of tables.
M iles Date Size, or
Am ount
Par
of
of
Road. Bonds. Value. Outstanding
IN T E R E S T OR D IV ID E N D S .
Rate
%
Augusta Southern— First consolidated M g o ld ..C o .x c
85 1894
$1,000
$400,000
5 g
___ 1903 1,000 &c
Augusta Union Station— 1st M $250,000 g o ld ____SB
225,000
4 g
___
A von Gene too & Mt Morris R R — Stock (see t e x t ) ____
100
225,000
3H
Bald Eagle Valley— S tock $ 2 ,6 0 0 ,0 0 0 .______ ________
50
1,535,000
10
94 1880
6 cur
1st M originally $400,000 (s f drawn at 100) ..F P .x r
1,000
296,000
Balt & Annap Short Line— See "Street R ailw ay” Sec.
B altimore Chesapeake & Atlantic— 1st M gOld.M p.c*
88 1894
1,000
1,250,000
5 g
Balt & Cumberland Val Ry— 1st M. Interest r e n ta l..
6
3 1879
500
48,500
Balt & Cumberland Val RR— 1st M Interest rental _.
5 1879
6
100 Ac
72,800
.
B & C V R R 12x ten— Stock guar ($270,000 carries 7 %)
50
390,600 5 A 7
First mortgage interest r e n ta l................. .................Ba
27 1881
1,000
230,000
6
Baltimore & Harrisburg RR— M, g o ld ____MeBa.c* . .
32 1886
1,000
690,000
5 £
1st M W est E xt ($16,000 p m) gold guar ..M eB a.c*
15 1888
1,000
240,000
5 g
Baltimore & Ohio— Com m on stock $152,750,000____
100 152.61)4.100 6 In 1907
Preferred stock 4 % non-cum ulat’e auth $60,000,000
100 60.000,000 4 In 1907
Prior lien m ortgage gold not subject to ca ll.M e.c* &r 1.076 1898
500 &c 172,820,000 I
3H g
do
do
registered__________________
1.076 1898
500 &c
1 3^ g
1st M gold redeem able at 105 after 1 9 2 3 ...U s .c * & r 1.657 1898
500 &C 171,000,000 | 4 g
do
do
registered__________________
1.657 1898
500 A c
I 4 g
Southwestern D lv 1st M $45,000,000 g o ld .F .c ’ Ar
930 1899
500 A c 145,000,000 (
3H g
do
do
registered__________________
930 1899
500 &C
I 3^ g
Pitts Jet & Mid D lv ($20,000,000) 1st M g ..C e .c * A r
384 1898
500 Ac jz6,175,480 (
3H g
do
do
registered__________________
384 1898
500 A c
I 3H g
P L E A W V Sys ref g red 100 after 1 9 2 5 .. Un.c* Ar 1,642 1901
1,000 31,347,000
4 g
New York D iv & Term 1st M $10,000,000 gold _____
1905
See text.
4 g
C onv debenture $15,000,000 gold redeem , see text
1,000
274,000
1901
4 g
Bonds Underlying First Mortgage 3 34 %
Loan 1853 extended In 1885 g o ld ________________ .
1853
377
500 A c
114,000
4 g
Pittsburgh & Con 1st M extended In 1896 In gold
1,000
58,000
1868
4 g
Bonds Underlying Pittsburgh Junction & Middle Dlvisi on 3H s
Cent Ohio $2,500,000 con 1st M (1st loan) g.M eB a.c
144 1886
1,000
1,009,000
4X g
116 1869
Sandusky Mans & Newark $2,300,000 1st M . Un.c*
1,000
638,000
7
Pittsburgh Junction 1st M $1,440,000 g o ld .-M e .c*
7 1882
1,000
a959,000
8 g
Second mortgage $300,000 g o ld ___________ Me.c*
7 1894
1,000
a250,000
5 g
Pittsburgh Jet Ter 1st M $500,000 gold gu p A I-.M e
1887
al91,000
5 g
a “ Total Issued ” shown in first left hand colu m n, b alance being ow ned b y Bal tlm ore A
x In addition $7,635,050 are pledged as part coll ateral for the Plttsb. L. E . A W . V a. Syst
__
_ __
_____
ATLANTIC COAST LINE R R .— (Concluded) —
glnia, N orfolk & Carolina R R . The Florida Southern and Sanford & St.
Petersburg: were merged in April 1903, the $4,241,000 Fla. So. 4s and 5775,
000 Sanford & St. Petersburg 4s being offered the privilege o f exchange for
90 % in A tlantic Coast Line consol. 4s. V. 76, p. 918. 971. The Atlantic
Coast Line Co. (of Conn.) owns a m ajority o f the stock. See that com pany
abov e. V . 70. p. 893; V . 71, p. 1116, 1310; V . 83, p. 560
Savannah Flor. & Western R y . ("P la n t System ” ) , which owned and
controlled 2,235 miles, was merged July 1 1902. V . 74, p. 774, 829. The
Jacksonville A Soutnwestern, Mllldale, near Jacksonville, F la., to A nder
son, 89 miles, was acquired in July 1904, and Is being extended 80 miles,
V . 79, p. 732, 2204.
In Oct. 1902 acquired $30,600,000 o f the $60,000,000 Louisville A N ash
ville R R . stock for $10,000,000 cash, $35,000,000 in 4 % colla t. tr. bonds
and $5,000,000 stock. V . 75, p. 733, 792, 905; V . 79, p. 785.
Lines owned and trackage.
M iles
Lines owned— (Con.)
M iles.
Paola Jet. near Sanford to St.
R ich m on d . V a ., to Port Tam pa,
F l a ................................................... 906
Petersburg, F la _____________
145
N orfolk, V a ., to South R ock y
Palatka, F la., to B rookB vU lo... 145
M o u n t ________________________ 115 Mllldale, F la ., to A n d erson ____
89
Contentnea to W ilm in g ton ______ 105 B lanches, A c __________________ 1,420
W ilm ington, N . C ., to Pee Dee
Leased—
M iles.
J u n c t io n ........................................ 97 Central R R . o f S. Carolina—
Florence, S. C ., to A ugusta, G a — 166
Lane to Sum ter, S. C _______
40
40
Sum ter to C olum bia_____________ 43 Other lines__________________ _
Yadkin Jet. (W ilm ington, N . C.)
to S an ford ....... ............... ...............116
T otal In e a r n in g s ..__________ 4,333
W aycross, G a ., to Folkston, G a _ . 34
Closely allied lines— (see each co .)
Jesup, G a.. to M ontgom ery, A la .354 a Louisville & N ashville_______ 6,271
Brunswick, G a., to A lb a n y ______ 169 a Charleston A W est C a ro lin a .. 341
DuDont Jet. to Fort Myers, F la . .349 . a N orthwest’n R R . o f So. C a r ..
71
Also owns one-sixth Interest In the R ichm ond-W ashington Co. and onehalf Interest In A tlanta (Ga.) Belt Line C o., 5 M miles. Leases, Jointly with
the Louisville A N ashville R R ., the Georgia R R ., 571 miles.
S T O C K .— A t. Coast Line of V a. class A (R ich. A Pet. ctfs.) tax-exem pt
stock was assumed as so much o f the com m on stock o f new com pany.
In N ov. 1902 $5,000,000 com m on stock was given In part paym ent o f con
trolling Interest in the Louisville & Nashville stock, $8,500,000 additional
being subscribed for as part o f the same transaction at $125 per share. In
N ov. 1904 $7,330,000 com m on stock was Issued as a 20% scrip dividend.
V . 79, p. 2204; V . 75, p. 1252.
Hf*Stockholders voted Mch. 8 1906 to Increase the total authorized stock to
$60,000,000; o f the new stock (all com m on ), $4,557,600 was subscribed for
b y stockholders at par in May 1906, raising am ount of com m on stock ou t
standing to $48,537,600. V . 83, p. 490, 1295.
The preferred stock ($18,850,000) was In 1902 m ostly exchanged for 125 %
In 4 % certificates of Indebtedness. V . 75, p. 1252.
D IV ID E N D S (% ) —
’00. ’01. ’02. ’03. *04. ’05. ’06.
1907.
Comm on (Including Class " A ” ) _______ 2>£ 3>$ 5
5 a 5
6
6
Preferred (M. & N .)......................... 2 K 5
5
5
5
5
5 M ay, 2 H
a Also 20 % In com m on stock scrip and 5 % in A tlantic Coast Line Co. 4 %
certificates o f Indebtedness. V . 81, p. 1558.
B O N D S . — First consol. 4s o f 1902 ($80,000,000 authorized, limited to
$20,000 per mile) are a first lien on about 958 miles o f road and a blanket
lien on 2,927 miles ow ned, subject to the underlying bonds. The first
consols are issued or reserved as follows:
Issued for refunding, A c., V . 75, p . 76; V . 77, p . 1872; V . 78,
p. 819; V . 81 p. 2 63............................................... ............... ...............$47,322,450
Reserved to take up underlying liens____________________________ 28,673,850
R eserved for extensions, Im provem ents and equip m en t_________ 4,004,300
A m ortgage for $2,000,000 was authorized li N ov. 1904 to acquire the
Jacksonville A Southwestern, Mllldale, near Js rsonvllle, F la ., to A nder
son. 89 miles, and to extend the road 80 miles.
81. p. 1559.
A s to the $35,000,000 collateral trust 4s o f 1902, see “ Organization”
above. T hey are subject to call at 105 In amounts not less than $100,000.
In 1907 Issued $4,500,000 4 % equipment trust notes; also $5,000,000
5 % straight 3-year gold notes. V . 84, p. 219, 506
The W ashington A Vandemere 4 }4s ($1,500,000 authorized, o f which
$720,000 outstanding) are guar., p. & 1., by endorsem ent. V . 84, p. 1246.
L A T E S T E A R N IN G S .— 1 1 9 0 6 -0 7 ..Gross, $24,674,423; net, $5,945,007
11 m os., July 1 to May 31.J1905-06..G ross, 22,715,537; net, 7,272,605
R E P O R T for the year ending June 30 1906 was given at length In V. 83,
p. 1287, 1295 (see also editorial, p. 1263).
1905-06.
1904-05.
1903-04.
Gross receipts ..................................... $24,868,448 $22,222,902 $20,544,975
Operating expenses and taxes__. . . 16,892,199
14,189,767
12,827,093
N et receipts from tra ffic_____ . . . $7,976,249
729,934
Other Incom e__________________ ___
1,836,000
Dividend on L. A N. stock ____ . . .
$8,033,135
593,749
1,683,000
$7,717,882
585,154
1,530,000
Total net receipts_______________$10,542,183
Interest on bonded d e b t, A c ______ $4,862,448
Int. on certs, o f Indebtedness_____
862,792
Dividend on com m on stock ______ (6)2,638,800
Dividend on preferred stock ( 5 % ) .
79,830
$10,309,884
$4,783,427
856,744
(5)2,015,750
86,335
$9,833,036
$4,692,015
857,538
(5)1,832,500
86,335
B alance, surplus_____ __________ $2,098,312
$2,567,627
$2,364,647
O F F IC E R S .— Chairman o f B oard, H enry W alters; President, T . M.
Emerson; 1st V loo-Pres., Alexander Ham ilton; 2d V ice-P res., C. S. Gadsden;
Sd V loo-Pres., J. R . K enly; Gen. M an.. W . N Royall- S ec., H erbert L .
Borden; Treas., James F. P ost.— (V . 84, p. 506, 569, 1246.)
ATLAN TIC & D A N V ILLE R Y .— (See M a p Southern R y .)— W est N o r
folk to D anville, V a ., 203 miles, three branches, 22 miles; James R iver Jet.
t o Claremont (3-feet ga u g e), 50 miles; tot^l, 275 miles. Leased to Southern
R y . from Sept. 1 1899 to July 1 1949 for taxes, repairs, m aintenance and
cash rental sufficient to cover Interest charges, w ith privilege o f renewals for
term s of 99 years. In addition the Southern R y . agrees to p ay the sam e
rate o f dividends on com m on stock as paid on Its ow n com m on stock. V . 71,
p. 447; V . 79, p . 625.
[V o l . l x x x v .
When
Payable.
J
J
J
F
J
A
A
A
A
A
D
J
J
A
J
Where Payable, and by
Whom.
J P Morgan A C o, N Y
Safe Dep A Trust Co,Balt
Erie R R , New York
Broad St Station, Phlla
Fidelity Trust C o, Phlla
A S Broad St Station, Phlla
A J Farm A Mech B ank,Balt
do
do
A J
A J
do
do
A J
do
do
do
do
A N
do
do
A N
A S C o.’s Office,2 W all S t,N Y
do
do
A S
do
do
A J
do
do
Q— J
A A o
do
do
do
do
Q— J
do
do
J A J
do
do
Q— J
do
do
M A N
do
do
Q— F
M A N
do
do
J A D
do
do
do
do
M A S
M
J
J
J
J
M
M
M
M
J
Bonds— P rinci
pal, When D ue.
Stocks— Last
Dividend.
Dec
July
July
Aug
July
1 1924
1 1953
1 1907 m
1 1907 5
1 1910
Sept 1 1934
July 1 1929
July 1 1929
July 1 1907
July 1 1931
N ov 1 1936
May 1 1938
Sept 3 1 9073%
Sept 3 1907 2 %
July 1 1925
July 1 1925
July 1 1948
July 1 1948
July 1 1925
July 1 1925
N ov 1 1925
N ov 1 1925
N ov 1 1941
June 1 1948
March 1 1911
o
do
do
do
do
Oct 1 1935
July 1 1946
M A s
J
A J
J A J
J A J
A A o
Ohio,
em 4s.
do
do
do
do
do
do
do
do
do
do
Sept
Jan
July
July
Oct
A
J
A
A
J
1
1
1
1
1
1930
1909
1922
19 22
1907
S T O C K .— C om ., $2,180,800. P ref. shares were canceled prior to July 1
1904. See V . 71. p. 181. 862; V . 73. p. 722. 956: V . 79. p. 625.
B O N D S .— O f the $4,425,000 4s o f 1900, $500,000 can be Issued on ly for
Im provem ents upon request o f Southern R y ., Interest charges to be covered
b y increased rental. Of the $1,525,000 second 4s rem aining, $750,000 will
be issued July 1 1909. V . 77, p. 195.— (V. 79, p. 785, 967 )
ATLAN TIC & GULF SHORT LINE — See V . 73, p. 615; V . 76, p. 1354.
A TLAN TIC & L A K E SU PE R IO R R Y .— In July 1904 operated M etapedla
Quebec to Paspebiao, 100 miles (B ale des Chaleurs R y .); owned St. Gregolre
to N loolet. 7 m .; S t. Francis to Yam aska, 6 m .; Yam aska to Sorel, 10 m .;
L achute to St. Andrews, 7 m .; tota l, 130 miles. W as under con struction,
Pairpeblac Jet. to Port Daniel, 21 m .; Plerrevllle to N lcolet, 15 m .; St. Gre
golre to Chaudlere J et., 67 m.
The reorganization plan filed M ch. 1907, given In V . 84, p . 9 29, V . 85, p . 97,
provided for Issue o f $750,000 preference, $1,250,000 ordinary and $500,000
deferred certificates o f participation In exchange for £500,000 A . A L. S.
and £409.000 B. des Ch bonds, A c. See also V . 82, p. 1039. In July 1907
the Atlantic Quebec & W estern R y ., It was understood, arranged to pur
chase the road. V . 83 p. 1522; V . 85, p. 97.
During year 1903-04 road was operated b y trustee for bondholders. S tock
authorized, $10,000,000; par, $100; Issued, $2,602,500. Bonds outstanding
as collateral, £500,000 4s. For year ending June 30 1904, gross $57,346; net,
$11,663. P res., H on. J. R . T hlbaudeau; S ec., Edgar N. A rm strong, M ont
real.— (V . 82, p. 1039; V . 83, p. 1522; V . 84, p. 929; V . 85, p . 9 7 .)i
ATLANTIC & NORTH CAR OLIN A R R .— Beaufort to G old sboro, N. C ..
98 miles; New Bern to B ayboro, 17 miles; tota l, 115 m iles. State o f
North Carolina owns $1,266,500 o f $1,797,200 stock. Leased from Sept.
1904 to Jan. 1 1996 to A tlantic A North Carolina Co. (the lease being
later transferred to Norfolk A Southern R y.) for Interest on b on d s, ta x e s,
& c., and dividends at 3 % yearly for 20 years. Increasing 14% yearly e v e ry
ten years until 5% Is reached; thereafter 6 % ; lessee also agrees to exp en d
$250,000 by Sept. 2 1907 for im provem ents and equipm ents. V. 79, p. 967,
D IV ID E N D S .— ’ 93. ’ 94. ’ 95. ’96. '97. ’ 98. '9 9 . 1900-04. Under lease
Per cent.
2
2
0
2
2
2
2
0
see a b o v e .
E A R N IN G S .— F or year ending June 30 1906, gross, $407,694; n et,
$154,739; other incom e, $7,246, Int., taxes, A c ., $105,607; d ivid en d s,
$53,916; bal., sur., $2,462. Pres.. Frank S. G ann on.— (V . 83, p. 1590.1522.)
ATLAN TIC QUEBEC & W ESTERN R Y .— V . 83, p. 154; V . 84 p. 692
ATLAN TIC V ALD OSTA & W ESTERN R Y .— See Georgia So. & Fla. R R .
AUG U STA & SAVANN AH R R .— MUlen to A ugusta, G a ., 53 m iles. In
1895 re-leased to Cen. o f Ga. for 101 yrs. at 5 % on sto ck .— (V . 61, p. 239.)
AUGUSTA SOUTHERN R R .— Owns from A ugusta to Sandersvllle, Ga.
80 m ., and Sandersvllle & Tennille R R ., 4 m. The Southern R y . In Jan.
1901 acquired about four-fifths o f the stock. V . 7 3 , p . 343. C om . stock ,
$400,000: pref., $350,000: par, $ 100. Year ending June 30 1906, gross,
$166,727; deficit under operating, $8,356; total d eductions, $26,891;
balance, deficit, $35,247.— (V . 80, p. 2219, 2456.)
AUG U STA UNION STATION CO.— Owns union passenger station at
A ugusta, G a., used b y all roads entering the city , the latter under their oper
ating contract providing for Interest on the bonds and 4 % dividends on
stock. S tock, $75,000 (5 % paid In ), held equally b y Southern R y ., A tlantic
Coast Line R R . and Georgia R R . V . 78, p. 2333: V . 79, p. 500. P resident,
Thos. K. Scott: Sec. and Treas., Carlton H lllyer.— (V . 82. p. 48.)
AUSTIN & NORTHW ESTERN R R .— See H ouston & Texas Central R y .
AVON QENESEO & MT MORRIS R R .— Mt. Morris to A von . N . Y .. 18
m . Leased to Erie R R . Feb. 26 1896 in perpetuity; rental (after 1901),
3 HVo on s to ck .— (See V. 63, p. 512; V. 62, p .318, 589.)
B AL D EAGLE V A L L E Y R R .— Owns from Vail S ta tion , P a ., to L ockhaven, P a ., 51 m .; branches to Sugar Cam p, A c ., 43 m . Leased to Penn.
R R . Co. for 99 years from Dec. 7 1864. R ental. 4 0 % o f gross earnings.
Cash dividends of 1 0 % yearly (F .A A .) are paid: on May 1 1906 a 9 % stock
dividend was paid. V . 82, p. 867
Penn. R R . on Jan. 1 1907 owned
$769,800 stock and offered to give 3 shares o f Its stock and $50 cash for each
share o f outstanding stock provided a satisfactory am ount is deposited b y
Sept. 14 1907. V . 85, p. 98.
BALT. & A NN APOLIS SHORT LINE R R .— See Street Railway section.
BALTIM ORE C H E SA PE A K E & A TLAN TIC R Y .— Owns Clalfcorne to
Ocean C ity, M d., 87 m .; branch, 1 m .; tota l, 88 m .; from Claiborne to Balti
m ore. 44 m ., transfer Is m ade b y water; steamer lines ow n ed, 1,131 m .; total
mileage owned and operated, 1,219 m . Controlled b y Penn. R R . and allied
lines. V . 69, p 541, 590; V . 59, p. 371. Pref. stock . $1,500,000 5 % cu m .;
com m on, $1,000,000. Dlv. on pref., 2 % , Mch. 1 1905; In 1906, M ar., 3 % ;
Oct. 2 % ; in 1907, M ar., 3 % ; S ept.. 2 % .
The stockholders voted on Jan. 26 1905 to acquire a m ajority o f the stock
o f the Maryland Delaware & Virginia R y ., extending from Queenstown,
M d .,t o Lewes, D el., w ith branches, a tota l o f 77 m ..a n d guarantee $2,000,000 o f Its first m ort. bonds. See that C o., V . 80, p. 116, 1058.
Fiscal year now ends Dec. 31
R eport for year ending Dec. 31 1906 In
V . 84, p. 1302, showing gross, $910,013; net, $220,601; other Incom e,
$14,696; interest and taxes, $78,861; im provem ents, $40,000; dividend on
preferred stock ( 5 % ) , $75,000; bal., d ef., $33,563.— (V . 84. p. 1302.)
BALTIM ORE & C U M BE R LAN D (R R . AND RY ) — The RaU,oad e x
tends from State L ine, M d., to W aynesboro, P a ., 4.55 m .; stock $76 700, fa
$50 shares. The Railway extends from E dgem ont, M d., to Stati Line, P a .,
3 m .; stock, $42,500, In $100 shares. B oth are leased to W estern Maryland
R R . for 50 years from July 1 1879, w ith privilege o f renewal or purchase;
rental, Interest on bonds.
B ALTIM ORE & C U M B E R L A N D V A L L E Y EXTENSION R R .— W aynes
boro to Shlppensburg, P a ., 26.52 m. Leased to W estern Maryland R R . for
50 years from July 1 1881, with privilege o f renewal for Interest on bonds
and dividend on stock, am ounting In all to $38,730. See table above and
V . 75, p. 665.— (V . 75, p. 665.)
BALTIM ORE & H A R R ISB U R G R R .— E m ory G rove, M d., to Orrtanna,
P a .. 59 m .. with branches 7 m .. tota l. 66 m . Leases Balt. A Harrisburg R y .,
RAILWAY STOCKS AND BONDS.
J u l y . 1907. |
J8
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, &.C., see notes
on first page of tables.
M iles Date S ize, or
Par
of
of
Am ount
Road. Bonds. Value. Outstanding
Baltimore & Ohio (Concluded) —
Bonds Underlying Pittsburgh, Lake Erie & West
Virgin la 4s
Clev Lor & W heel cons M (now 1st) g o ld -.U s m .c
192 1893
General m ortgage $1,000,000 gold red 105____N.c
192 1896
Con ref M $10,000,000 gold red at 102 34 __ Ta.c
102 1900
Cleveland Term & V alley 1st M gold guar _.M e.c* &r
88 1895
M onongaheia R lv R R 1st M gold guar & & O ..C e .c*
30 1889
Ohio & Little Kan R y 1st M $250,000 red 105 gold
72 1900
Ohio R iver first mortgage ($2,000,000) gold__FP.c*
172 1886
General mortgage ($3,000,000) gold 1st on 39 me*
209 1887
R a v Sp & G1 1st M $400,000 g guar p & IFP.c*
33 1890
H untington & Big S 1st M ($400,000) gold guarc*
11 1892
R ipley & Mill Creek 1st M g gu p & 1 endorsedc* &r
13 1888
Pittsburgh Clev & Tol 1st M g ______________________
77 1882
Pittsburgh Newcastle & L E 1st M extended In gold
30 1878
Pittsburgh & W estern 1st cons M $10,000,000 g . .c *
215 1887
E llw ood Short Line first m ortgage g $300,000--Q
3 1892
W V a & P 1st M gold 5s scaled; red at par__MeBa.c*
176 1890
Leased Lines, E tc., Securities
Balt & New York R R 1st M gold g u a r____MeBa.c&r
534 1889
M on River Coal M $1,500,000 gold s f redeem at par
1895
Schuylkill R iver E S R R 1st M gold guar p & 1 end
12 1903
Staten Isl R apid Tran 1st M $1,000,000 g $ or £ . Use*
11 1883
New m ortgage $5,000,000_______________________
1905
Staten Island R y 1st M $1,000,000 g o ld ______ Me.c*
13 1893
Baltimore & Ohio Equipment Obligations—
G round rent lens, m lsc car trusts, etc, June 1906.
Baltimore & Potom ac— See Phila Balt & Washington
Bangor & A roostlook— S tock, see t e x t ________________
First m ortgage ($16,000 per mile) g o ld ................Q.c*
211 1893
S econd m ortgage g o ld ___________________ _____ Usm
211 1895
First m ortgage Piscataquis D lv $1,500,000 g _.G .c*
77 1899
V Bur Extension 1st m ortgage $500,000 g o ld ..Q .c *
33 1899
A roostook N orthern 1st M $225,000 g o ld ____O.c*
1534 1897
Consol refunding m ortgage $20,000,000 gold .O B .c*
412 1901
M edford Extension 1st M ., $1,000,000, g o id _ .U s .c*
28 1907
A roostook County bonds (assum ed).............................
’9 2 -’95
x All except $21,00() owned hv Baltimore & Ohio.
_
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 &c
1,000
1,000
1,000
$5,000,000
890,000
950,000
3,302,000
700,000
228,000
2 ,000,000
2,941,000
376,000
303,000
50,000
441,000
82,100
765,000
300,000
4,000,000
1,000
1,000
1,000
1,000
50,000
765,000
5,000,000
1,000,000
1,000
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
Bonds— P rin ci
pal, When Du$.
Stocks— Last
Dividend.
A A O C o.’s Office,2 W all S t,N Y Oct 1 1933
5 g
J
A D
do
do
June 1 1936
5 g
do
do
Jan 1 1930
434 g J & ,r
M & N
N oy 1 1995
do
do
4 g
K As A
do
do
Feb 1 1919
5 g
M & S
March 1 1950
do
do
5 g
,J <Sc 1)
do
do
June 1 1936
5 g
A & ()
do
do
April 1 1937
5 g
F & A
do
do
Aug 1 1920
6 g
J <Sr, .1
do
do
July 1 1922
6 g
F A A
do
do
A ug 1 1908
6 g
A & <)
do
do
Oct 1 1922
6 g
J & D First Nat B k, Allegheny, June 1 1917
4 g
J
& Ji J P Morgan & Co, N Y
July 1 1917
4 g
.1 & J Co’s office. 2 W all St..N Y Jan 1 1922
5 g
A & O
do
do
[April 1 1990
4 g
5
5
4
6
g
g
g
g
M
J
.1
A
4^ g J
do
do
*, N
& D|Amer Bonding & Tr.Balt
(Sc 1)
& O Foot W hitehall S t, N Y
May
Dec
June
Jan
&
June 1 1943
DjN ew Y ork City.
1
1
1
1
1939
1945
1925
1913
1,344,889
100
1,000
1,000
1,000
1,000
1,000
1 000
1,000
1,000
W estern extension, Orrtanna to Highfield, 15 m ., guaranteeing Interest on
Its bonds. Leased to W estern M aryland R R . for 50 years from O ct. 25
1886; rental, interest on bonds and 5 % on preferred stock (all paid M. A N .) .
S to ck , com m on , $690 000; p ref., $29,100.— (V . 44. p. 812.)
BALTIM ORE & OHIO R R .— {See M a p .)— R O A D .— Operates from B al
tim ore to Philadelphia and Baltim ore to Chicago, Cincinnati and St. Louis,
tota l mileage leased, owned and operated in J u ly 1906, 4,029 miles. " R o y a l
B lu e Line” (see Central R R . o f N . J.) gives access to New Y ork.
T he system em braces, subject to m ortgages, the following llnea:
P r. lien 3)4 % M .— (1,076m .) M iles |Pittsburgh & W estern
_a21
B alt, to W heeling, Belpre, 0..& C.721 Plttsb. Cleveland & T oledo
77
C um b. to Plttsb. & W .. & c______ 355 P lttsb. Palnesv. & F a irp ort.
53
1st M . 4 % .— (581 miles)
Eastern O h io____________________ 17
11
B alt, to Phlla. and branches_____ 137 Trum bull & M ahoning__________
C hicago, 111., to A kron, O _______ 378 M onongahela R iver R R _________ 30
Branches to Fairm ont, W .V a .,& c 66 Clev. Terminal & V a lle y _______
92
Cleve. Lorain & W heeling R y
South W . D iv . 3)4 % M .—
B elp re.O ., via Clncln. to St.L.,<Scc930
W heeling to Cleveland, & c___al95
P itts.Jct. 3 H % M .— (384 miles)
Ohio R iver R R . Lines—
Bellalre to Midland C ity, O _____ \
B enw ood to W heeling, & c ____a265
Shawnee to Sandusky, O _______ J377 W est Virginia Short Line R R __
58
Pittsburgh Junction R R _________ 7 Ohio & Little Kanawha R R ____ 74
P .L .E .& W .V .S y s A % M . (x l ,642m)
W est Virginia & P ittsburgh_____ 176 T otal o f all (adding Baltimore
Belt and other lin es)_______ 4,485
x Includes 384 m ., also covered b y P itts. Jet. 1st M. a See this com p any.
H IS T O R Y .— R eceivers were appointed In F eb. 1896, but on July 1 1899
the road proper was returned to the com p any, the reorganization plan (In V .
6 6 , p. 1235) having been consum m ated w ithout foreclosure and the road
vastly im proved in physical condition. The B .& O. Southwestern was reor
ganized, per plan in V . 67, p. 688, the consol, m ortgage o f 1893 having been
foreclosed. In 1900 new securities were issued under the plan o f reorganiza
tion o f the Cent. Ohio and other lines. V . 67, p. 688, 1206, 1356. In May
1906 the holdings of Consolidation Coal stock were sold. V . 82, p. 1039.
The com pany received permission to pay off the $15,140,000 Chic.JTerm lnal Transfer 1st 4s, which were called and redeem ed Mayt3 1907. V . 84,
p. 867 930, 1113; V . 85, p. 98.
R E A D IN G C O ., & c.— In 1901 $ M ,565,000 (virtual control) o f the $140,000,000 Reading Co. stock, consisting o f $12,130,000 first p ref., $28,530,000
aecond pref. ana $27,905,000 co m ., was acquired, the Lake Shore & Michi
gan Southern R y . Co. (Vanderbilt system) taking abou t one-half. In 1904
the B. & O. and L. S. & M. S. each sold $3,950,000 o f the com m on. V . 76, p.
101; V . 80, p. 1856. In 1803 a one-sixth interest in $6,924,200 o f the $11,000,000 H ocking Valley R y . com . stock was acquired. V . 77, p. 1225; V . 79,
p . 2746; V . 83, p. 37.
P E N N S Y L V A N IA R R . IN T E R E S T .— T he Pennsylvania R R . Co. pur
chased a large Interest in 1900-01 and on Jan. 1 1907 owned directly $14,273,600 pref. and $5,725,000 com . stock; also— through the Northern Cen
tral and Phila. B. & W . (each owning one-half)— $2,000,000 pref. and $2,097,400 com . stock, and through the Pennsylvania Co. $5,000,000 pref. and
$13,451,200 com . stock. V . 70, p. 76; V . 74, p. 528; V. 78, p. 1276. In
Sept. 1906 the Penn. R R . sold about $32,334,200 com . and $7,206,400 pref.
B. & O. stock held (approxim ately half its total stock holdings), the Union
P acific system (Oregon Short Line) purchasing same. V . 83, p. 562, 686
1036; V . 84, p. 50, 569.
S T O C K .— Authorized Issues: Com m on, $152,750,000, see "G eneral F i
nances" below; pref. 4 % non-cum ulatlve, $60,000,000; outstanding, see ta
ble abovi %nd “ General Finances.” Pref. stock dlvs. are lim ited to 4 %.
(See V . 7 p. 1166, and editorial, p. 1143; V . 72, p . 1186.)
D IV ID E N D S .— 1900. 1901. 1902. 1903. 1904. 1905. 1906.
1907.
C om m on ( % )
2
4
4
4
4
4J4
5^
6
Preferred ( % ) ___ 4
4
4
4
4
4
4
4
In 1906, on co m ., M ch.. 2 )4% ', S ept., 3 % . V . 82, p. 1436.
B O N D S .— (1) Prior Lien 3}$ % , a first lien on main line and branches,
Parkersburg branch and Pittsburgh division, about 1,076 miles o f first track
and 1,325 miles o f second, third and fourth tracks and sidings, and also all
the equipm ent now owned o f the value o f upwards o f $ 20,000,000, or here
after acquired. T otal authorized, $75,000,000, o f which $5,000,000 to be
Issued only after Jan. 1 1902 (at not exceeding $1,000,000 a year) for the
enlargem ent, betterm ent or extension of the properties covered. See appli
ca tion to list, V . 69, p. 30; V . 78, p. 1906.
(2) First Mortgage 4 % Qold Bonds, D u e July 1 1948, but subject to ca ll.
In w hole or In part, after July 1 1923, at 105; a first lien on the Philadelphia,
Chicago and A kron divisions and branches and the Fairm ont M organtown &
Pittsburgh R R ., covering about 581 miles o f first track and about 573 miles
o f second, third and fourth tracks, and sidings; also on the B. & O. Term inal
property and the Baltimore Belt R R . T hey are also a lien, subject to prior
lien m ort. upon main line, &c. See app. to list, V . 69, p. 30; V . 79, p. 211
T otal authorized (lncl. $49,975,000 Issued at reorganization)_$165,000,000
O f which reserved to retire prior lien bonds In 1925__________ 75,000,000
Issued and Issuable for betterm ent or extension o f the prop
erties covered b y m ortgages ( 1) and (2) , or for extensions,
additions or equipm ent; at not exceeding $1,500,000 a
year for the first four years and at not exceeding $ 1 ,000,000
a year thereafter, origin ally______________________________
27,000,000
( » ) Southwestern D ivision 1st Mortgage 3 H per cents. V irtually
a first lien upon the properties constituting the B . & O.
Southwestern R R . system , or the securities representing the
sam e, covering about 930 miles o f first track track and about
401 miles o f second track and sidings. Total Issue___________
45,000,000
(4) B . & O. Pitts. Jet. & M id. D iv. 3 X per cents. E xp ected to
be ultim ately a first lien upon the railroads o f the Cent. Ohio
system and Pitts. Jet. R R . C o.. 385 miles in all. T otal au
thorized Issue In no case to exceed __________________________. 20,000 000
O f which to be Issued only at the rate o f not exceeding $ 1 ,000,000 per year for tbe first tw o years and thereafter at tho
rate o f not exceeding $500,000 per year, for the enlarge
5,000,000
m ent betterm ent or extension o f the properties covered.
O f which In partial exchange for old b o n d s .. . . . . . . . . . . . . . .
10,569,000
Sold to a syndicate for cash requirem ent*. . . . _______________
4 000,000
511 000
[V o l . l x x x v .
2,342,000 4 In 1906 J
& J,Checks mailed.
Jan
3,360.000
.1
J Guar Trust Co, New York Jan
5 g
117.000
do
do
(July
J
5 g
J
A <Sr, ()
do
do
Jan
1,500,000
5 g
500,000
5 g
A fc O' New Y ork Guar Trust Co Jan
225,000
A fa O
5 g
do
do
IOct
6,066,000
4 g
J fir. J Brown Bros, N Y ; & Bost. July
1 ,000,000
M & N
do
do
IMay
5 g
728,000
Sep
4 H V ariou s.
5 1907 2 %
1 1943
1 1945
1 1943
1 1943
1 1947
1 1951
1 1937
12-July 15
O f this Issue $6,175,480 is in hands o f the public and $7,635,050 pledged
as part collateral for Pitts. Lake Erie & W est V a. System 4s.
N ote.— The underlying bonds still outstanding in July 1906 are In table
at top o f page. The underlying stocks still In the hands o f the public a g
gregated $21,427 par value.
(5) Pittsburgh Lake E rie & West Virginia System m ortgage refunding 4 %
gold bonds (authorized am ount $75,000,000) are a lien on 1,642 miles
consisting o f the Ohio R iver, Cleve. Lorain & W heeling, Pittsburgh & W est
ern. & c., form ing a direct connection with Pittsburgh, Cleveland, F airport,
Lorain and Sandusky, subject to underlying bonds outstanding thereon
(see table a bov e). In Sept. 1905 $29,080,950 additional underlying bonds.
Including $7,635,050 Pittsburgh Junction & Middle Division 3 H s. i^ere
held in trust as part security. O f the total Issue o f bonds, $32,785,000 aro
reserved t o retire underlying bonds and the remaining $ 10,868,000 are Issu
able for additions and Im provem ents. See full statem ent, V . 74, p. 266; V .
79, p. 2793; V . 80, p. 1423.
(6) T he 4 % debentures of 1901 are convertible at the option o f the holder
Into com m on stock at par on 30 days’ notice (see V . 73, p. 1159); they m ay
be called for paym ent at par and Interest on any Interest day, In the inverse
order o f their numbers. V . 72, p. 282; V . 73, p. 337, 1158; V . 75, p. 549.
(7) New York D ivision and Terminal 1st 4s (authorized am ou nt, $10,000,000) are secured b y deposit with the trustee o f all the Staten Island
R apid Transit refunding 4s as Issued ($5,000,000 authorized) ,all the $350,000
B alt. & N . Y . 1st 5s and the entire stocks o f those com panies. Of the
bonds $3,950,000 were Issued on June 30 1906 but held in the treasury, the
balance being reserved for the further equipm ent, developm ent and exten
sion o f the Staten I. properties, including B alt. & N. Y . R y . V . 83, p. 1042
L E A S E D L IN E S .— Schuylkill R iver East Side 5 % bonds were purchased
D ec. 1 1903 at 110, per V . 68, p. 40, and $5,000,000 new 4s Issued, guaran
teed p. and 1., b y endorsement. V . 77, p. 1745; guaranty, V . 81, p 727.
The W est V irgin ia * Pittsburgh (see agreement In V . 67, p. 1310), has been
operated since Sept. 1 1899 under a 99 years’ lease, for 4 % on the m ortgage,
to be appropriated to paym ent o f bond Interest, the B. & O. having the op
tion for 5 years to purchase the bonds at par and accrued Interest on 60
days’ notice. V . 69, p. 439.
T he B. & O. acquired at 125 $1,956,000 o f the $2,400,000 Pittsburgh
Cleve. & T oled o bonds. V . 70. p. 632; V . 76, p. 47.
F IN A N C E S .— In Sept. 1901 the authorized Issue o f com m on stock was In
creased from $45,000,000 to $60,000,000, to provide for conversion o f $15,000,000 debenture 4s Issued In March 1901 for Im provem ents, <fcc. (V . 72, p.
282 337). In July 1906 $14,726,000 debentures had been converted. S tock
holders In 1901 subscribed to $22,537,200 additional com m on stock at par,
(V . 73, p. 1159; V . 74, p. 150, 266), and In 1902 to a further $42,316,860, at
sam e price, with $20,533,000 applicable to equipm ent, $9,329,000 to double
tracking between Newcastle and A kron and miscellaneous construction,
and the remaining $12,454,000 to acquire stock, bonds, & c., to be placed
under Pitts. Lake E. & W . V a. System m tge. V . 75, p. 549, 980.
Stockholders In April 1906 subscribed for $27,750,000 new com . stock
at par, the proceeds to be used for construction. Im provem ents and equip
ment and the redem ption o f $8,915,000 collateral trust notes due May 1
1906, raising the am ount outstanding to $152,604,100.
V . 82, p. 867, 927;
V . 83, p. 491, 1042.
In 1905 dividend on com m on was raised to 5 % and In 1906 to 6 % .
As to Reading Co. dividend Increased In 1905; see that com p any.
E A R N IN G S .— For year ending June 30 (June estim ated in 1907);
Gross Inc. E xp.& C hg. P fd .d iv . Common dlv.
B a l.,su r.
Year.
$
$
S
$
$
1906-07 (est.) .85,592,514 68,120,650 2,400,000 (6% )9,130,488 5,941,376
1905-06 (act.) .80,843,949 62,779,650 2,400,000 (5 H) 6,851,474 8,812,825
N ote.— W ith the operating expenses and fixed charges for 1906-07, It Is
stated, there are included “ betterm ents,” am ount not reported. For the
previous year $3,000,000 were charged against the yea r’s surplus for addi
tions and im provem ents, reducing the same from $8,812,825 (as shown
above) to $5,812,825 (see below ).
Earnings o f July 1906, based on 4,029 miles, entire system , excep t—
V alley R R . of Virginia, R avensw ood Spencer & Glenvllle, Ohio & Little
K anawha, Cleveland Term inal & V alley, Cleveland Lorain & W heeling.
A N N U A L R E P O R T .— R eport for year ending June 30 1906 was In V . 83 ,
p . 1030, 1041. (See also editorial, p. 1007.) Average rate per ton per
m ile, 5.60 mills in 1905-06, against 5.66 mills In 1904-05; average revenue
train-load, 420 tons, against 399 in 1904-05.
Year ending June 30— 1905-06.
1904-05.
1903-04.
1902-03.
Miles....................................
4,030
4.026
3,987
3,935
Freight................................$60,002,204 $50,607,087 $48,617,104 $47,756,251
Passengers......................... 13,701,698 13,817,141 13,146,449 12,520,988
Mall, express, & c............ 3,688,153
3,265,769
3,307,528
3,172,395
T otal gross e a m ln gS -.$ 7 7 ,392,056 $67,689,997 $65,071,081 $63,449,633
Operating ex p e n se s------ 49,515,221 44,710,603 43,628,864 39,569,964
Net earnings................ $27,876,835 $22,979,394 $21,442,217 $23,879,669
Other incom e (n e t)_____
3,090,478
2,535,409
2,276,160
1,222,991
T otal net incom e____$30,967,313 $25,514,803 $23,718,377 $25,102,660
$9,978,143 $9,627,851
$8,934,919
Interest and rentals____ $10,376,675
Taxes _________________
1,448,364
1,376,885
1,305,510
1,239,726
D isc., com m islons, & c._ 1,077,975
485,778
427,656
1,109,853
Dlvs. on pref. Stock (4 % ) 2,400,000
2,400,000
2,400,000
2,400,000
Dlvs on com . s to ck . (5 H ) 6,851.474 (4 X ) 5,592.042 (4) 4,970,482 (4)4.970.482
A dditions & lm prov’t s . . 3 .000,000
2,500,000
2,000,000
3,500,000
Balance, surplus..........*$5,812,830 *$3,181,954 *$2,986,878 *$2,947,680
x Surplus differs from that shown In pamphlet report, owing to m ethod
o f charging com m on stock dividend, the a bove being used for sim plicity.
E xecu tive Comm ittee— Oscar G. M urray, Chairman; G. F. R an dolph ,
J . R . Foard, N . B . R eam and Samuel Rea; P res., Oscar G .'M u r r a y ;
1st V ice-P res., Geo. F. R andolph; S ec., C. W . W oolford; Treas. J. V . MoNea)
J u l y , 1907.]
RAILWAY STOCKS AND BONDS.
19
T e m is c o u a t a
ILake
Long
hjMke
St.Basil
Edmundstoir
Lake V
^
xS^Green Biver
S t .F ra n c t e ]
KENT,
Wallagrass n ,
Eagle LakeW
Eagle X I
m
ft
>t,Thom!
—s
K
»prand Falls
C q "'n9i
J
S tockholm
• ^ 7 )e r z j j
SquareJenitland t
WinterviU
flewSweden
Lake
f
CARIBOU
.Levis
c
roosiook Jc.
Andover
Perth
p ^ S t .^ h a r le ;
|St.Henr^ Jc.
--—.
St.Auselme
A
F
Si WestflelAj^ I
) »
St. Mary
Churchill A
Lake M§
{(E agle !
iHeron I
W x' x |
'^iB eauoe Jc. (
Stferederic/
airfieId%^^;;VsJ<
^
^ ^/'S ccrlts
St.Joseph
La Rrtcbcr^-
'V
M W Hill\ U
^
I
|**
tia
J
I
" c il k
MonuceUcwg^
^ /R F /E L D
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Bath
I Kent
'Y Florence¥iUe
HartJand
4 e k , b ^ i V " “l |
J .
)
I 'o .rP ii\ is « £
s
St.VictorQO
^ G r e e n v ill|
St.Ephrem
fihesuincook
"s
} w K - M a tta w a n k e a g )
^
St.Evariste?
k ^ C r y s t a l\ \
Lambton
r^SKerman \ \
M ooseh ea d
PACIFIC
[egajftic
Xa*e j
Meganiic
KATAHDIN %
tROfyVORKSj
GREENVILLE"
feriton1
I
Canterbury
(
Schoodic
Moosehead;
Holeb
i
1 f
indstonej^O;
Paitiat
t*
Bancroft
Wytopi flocks??
To~Montrea1
]
k
?iTas.Wiffl ^
' BlalneWvl
>—v C —
Brldgewatem^
|QC'hanil^rlain-'
v^St. Francis
_
'v^^^yPresque'lsle^ B y
~^N orth. ^
Twin Dam
WSeboois
W EST
E B O O IS
—
K in g « ia n > g /
I Jjfikes (
i
jMfittawamkeag
Winn
i
^
d
l s\boois , y
Meaaows
Lincoli
Prince!
£’, % ^
,<
Aanders /
Reeds I
VSi
I
\
j>lioiamon
\
G E M o £/[
-1
§ J ^ reen'bQS? (,
f i g L<
ff'f^ ^ S S p o sa gan \ ) V
?adwell
r~ Redingtbn Mill'
cr\ f E H f i e l d \
x- f - *
W l ’^ d v M n k o a g
lingflel'd •"
EmbdenJ
IlSfawiSWetoster /
e 3 ^ N
LStrong
< f ~
Green Lake
Rumford\&ills
\
\
C
M achias
tfincock
« t t . Desert
:ivereid<
fjnlon
o ^ r
■Ricbirffcd
je w ^ o n J9~<
Waldpboi
Vc^iLisbon^-
Daiivillf Jc.
\ * S ia s b o ife /
* Y \ F a llsrg
p
New <
Gloucestei IpoW naf^ L
'IlifaravXy/.
Briflgton JcflySebi
[
Sebago LUk<?«££JlJ
|
'tjjb
Buxton CeiVtrc^y^^
Soeo
jj
\ N ew luom
VWe^tbrooj
^ m fb o r o J e .r fji^ \
•'N»,
e Elizabeth
V
Y
O j R K b‘p ^
Isprhrgvali^J a (fee d Z K ‘
KenneJ'J
.W eH s,<
:heater
libuBkpOtt-
MAP OF T H E
BANGOR & AROOSTOOK
RAILROAD AND CONNECTIONS*
BeMb
[V o l . l x x x y .
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or exp'anation of column headings, A c ., see notes
on first page of tables.
Bangor & A roostook— (C oncluded)
N or Maine Seaport 1st M guar p & 1____Usm .c*&r
Car trusts Ser B $40,000 due A & O y e a r l y ______ G
Car trusts Ser C g guar, $45,000 due semi-an .P e P .c *
Car trusts ser D g guar $45,000 due sem l-ann. PePc*
B angor & Portland— First m ortgage g o ld ____________
Beaver & E llw ood— First m ortgage g o ld _____________
Beech Creek— Stock (guaranteed 4 % b y endorsement)
First m ortgage gold guar p & 1 ( e n d o r s e d ) K .c & r
Second M for $1.000,000 gold guar p & 1 (end) Un.c&r
Clearfield Bltupi Coal 1st M Int guar b y Bh Cr g o ld .c
Beech Creek Exten— 1st M $4 500,000 g guar p & l. G.c*
Clearfield Southern first m o rtg a g e.- - - - _________
Pittsburgh & Eastern debenture certificates________
Beech Creek consol M $20,000,000 g o ld ...G .c * & r
Bellingham Bay & Brit Col— 1st M $1,000,000 gold s f
Belt Line Ry of M ontgom ery— 1st M lawful m o n e y ..c
Belt RR & Stock Yard of Indianapolis— S to c k ______
Preferred stock , cu m ulative________________________
First m ortgage for $1,000,000 cu rrency____________
Belt Ry of Chattanooga— First M g o l d . . . . _MeBa.c*
Belvidere Delaware— S tock ($4,000,000)____________
Consolidated! guaranteed b y United C o.’s sinking f d . . r
m ortgage ^guaranteed b y United C o.'s sinking f d . . r
of 1875
1issue $600,000 reduced b y sinking fu n d .r
$4,000,000 Jguaranteed by Onlted C o.’s sinking fd .c *
Berkshire— Stock 6 % ren ta l_________________ ________
Bessemer & Lake Erie— Erie equipm ent trust________
L ocom otive equipm ent tru st_______________________
Standard E quipm ent T ru st________________________
Birmingham Belt— See St Louis & San Francisco
Birmingham Terminal— 1st M $3,000,000 gold guar___
Blrm Col & St And— First M $4,500,000 gOld-Ce.C*&r
B loom sburg & Sullivan RR— First M $400,000___FP
Second m ortgage incom e non-cum $200,000____FP
Boca & Loyalton— First M $675,000 gold call 1 1 0 ._c*
Boonville St L & South Ry— 1st M gold $1,0 00 ,0 0 0 .c*
Boston & Albany— Stock ($30,000,000 authorized) . .
Bonds (not m ortgage) guaranteed principal & Int c
M iles Date S ize, or
Am ount
Par
of
of
Road. Bonds. Value. Outstanding
$1,000
54 1905
1,000
. . . ’9 6 -’00
1.000
1906
. . . 1907
1,000
‘8 0 -’ 86 100 &c
3 1899
50
163
1,000
163 1886
1,000
163 1892
. . . 1891
100 &c
59 1901 1,000 &c
. . . 1900
1904
___ 1905 1,000 &c
All 1901
1,000
1,000
1 1890
....
50
50
...
1,000
1881
1,000
‘ 25 1895
50
1,000
81 1885
1,000
81 1887
1,000
81 1893
1,000
81 1903
100
...
1,000
...
1,000
....
__
1,000
_
...
‘ 30
30
56
44
392
----
1907
1905
1898
1898
1903
1881
....
1902
1,000
100 &e
100 &c
1,000
1,000
100
1.000
Directors— R . Brent K eyset, John P. Green, Samuel R ea, Joseph R .
F oard, Geo. F. R andolph, James Speyer, Edward H . Harrlm an, Norm an B.
R eam , Charles Steele, James Stillm an, Edward R . B acon.
New York office, 2 W all S t.— (V. 84, p. 1365; V . 85, p. 98.)
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
A & O
$4,410,000
5 g
280,000
A & O
5 g
810,000
J
& D
5 g
A & O
900,000
5 g
320,000
J & J
6 g
150,000
J
& J
4 g
4
6 ,000,000
Q— J
J
5,000,000
& J
4 g
1,000,000
J
& J
5 g
J & J
732,000
4 g
3,500,000
3 Vi g A & o
M & s
204,000
5
309,219
& D
J
3H
3,694,000
A & O
4 g
J & D
659,000
5 g
200,000
& J
6
J
1 ,000,000 See text. J
& J
500.000
6
3— J
1.000,000
M & N
6
275,000
5
J & J
1,253,000 10 In ’07 Y early
500,000
4
M & s
749,000
F & A
4
500,000
4
J & J
1 ,000,000
& J
3M ?J
1,078,700
6
:Q-—J 15
5
M & S
1 ,220,000
150,000
5
M & S
1,060,000
5
A & o
1,500,000
5 g
See text.
5g
370,600
5
199,600
5
667.000
6g
400,000
6g
25,000,000 See text.
3.858.000
3 u;
& S
& J
& J
& J
& o
& A
D— M
A & O
M
J
J
J
A
F
Where Payable, and by
Whom.
Brown B ros,N Y ,B os& P h
Guar Trust Co, N Y
Brown Bros,N Y& B oston
do
do
90W est S t. N Y
G uaranty Trust C o, N Y
Grand Cent Station, N Y
do
do
do
do
K nickerbocker T ru st,N Y
Grand Cent Station, N Y
do
do
do
do
do
do
U S M & T r Co. N Y ; &SF
M etropolitan T r Co, N Y
C o.’s Office, Indianapolis
do
do
W H N ew bolds, Phlla.
Mercantile T r & D ep.Balt
Broad St S ta t’n, Phlla
do
do
do
do
do
do
do and Bk C om ,N Y
Stockbrldge, Mass.
H om e T r Co, H ob ok , N J
do
do
do
do
Bonds— P rin ci
pal, When D u t.
Stocks— Last
Dividend.
April 1 1935
T o July 1 1910
T o June 1 1916
T o A pril 1 1917
1930-1936
July 1 1919
July 1 1907 1 %
July 1 1936
July 1 1936
Jan 1 1940
April 1 1951
Mch 1 1930
D ec 31 1934
April 1 1955
D ec 1 1932
Jan 1 1910
July 1 1907 6 %
July 1 1907 1 J*
April 30 1911
July 1 1945
Mar 15*07 10 %
Sept 1 1925
Feb 1 1927
Jan 1 1933
Jan 1 1943
A pr 1907 1 H
March 1 1922
March 1 1913
A pril 1 1925
Mch
F I T & S 'b 'C o ', P h ila '
R egB loom sburg.w h earn.
U S M & T r, N Y ; & SF
Amer Exch Bank, N Y
Office, Term S tat’ n, Bost
do
do
1 1957
July 1 1935
Jan 1 1928
Jan
April
A ug
June
April
1 1928
1 1923
1 1911
29 ’ 07 2 Vi
1 1952
D IV ID E N D — ) Preferred In |Com . ’ 97. ’98 t o '0 2 '0 3 .'0 4 . ’05. ’ 06. 1907
Since 1894
Jfull to date. |stk % 0
5 yearly 6 K V
8
8
11
In 1907, on com m on, Jan ., 5 % (lncl. 2 e x .); J u ly, 6 % t(In cl. 3 e x )
V . 84, p. 1549.
P res., S. E . R au h, Indianapolis, In d .— (V . 77, p . 2389; V . 81, p. 1099.)
BELT R A IL W A Y (OF C H ATTAN OOGA, TE N N .)— Owns 25 miles of
belt railroad In O hattanooga, Tenn. V . 67. p. 72.
Leased till July 1 1945 to A labam a Great Southern R R .; rental guaranteed
to meet Interest on first m ortgage bonds, taxes and m aintenance. STOCK
Is $300,000, owned by Alabam a Great So. R y . There are also $24,000 2d
Inc. 4s, due 1945, redeem able at par; cou p, paid Jan. ’01 to July ’ 06 lncl.
B E L V ID E R E D E LA W A R E R R .— Owns from T renton, N. J ., to Manunka Chunk, N. J ., 67 miles; Flem lngton R R ., <5cc., 14 miles; operated cu t-off,
1 mile; total operated, 81 miles. Leased to United Companies, and trans
ferred to Pennsylvania R R . March 7 1876. Net earnings paid as rental.
S T O C K .— A uthorized, $4,000,000; outstanding Jan. 1906. $1,253,000;
par, $50. Dividends: 1897 to 1906, both Inc., 5 % yearly; 1907, M ch .,10 % .
B O N D S .— All o f the outstanding bonds are secured b y the consolidated
m ortgage o f 1875 for $4,000,000; sinking fund, 1 % o f outstanding bonds
If earned. The issues o f 1885, 1887 and 1903 are guaranteed b y the United
New Jersey R R . & Canal Co. G uaranty, V . 76, p. 918.
E A R N IN G S .— In 1906, gross, $1,626,652; net, $373,032; other Incom e,
$47,535; interest, taxes, &c.. sinking fund and other charges, $189,959;
dividends (1 0 % ), $125,300; surplus, $105,310.— (V . 84, p. 748.)
BANQOR & AROOSTOOK R R .— (See M a p .)— O ldtow n, M e., northerly
to V an Buren, with branches; tota l, 467.4 miles, viz.
Lines owned—
M iles
Lines leased—
M iles.
O ldtown to Van Buren_________221.7 Northern Maine Seaport, La
Grange to Searsport_________54.1
Ashland Jet. to F ort K en t____ 94.9
Milo Jet. to Greenville_________ 48.8
B ra n ch e s _____ _______ _______ . . 47.91 Total June 30 1906__________ 467.4
In Dec. 1906 a branch from Seboeis Lake to the ju n ction o f the St. Francis
and St. John R iver, 145 miles, was proposed. V . 84, p. 50, 157. Branch
from M illinocket to East M illinocket, 8 miles, was opened Jan. 1907. A
low-grade cu t-off is building from a point 4 miles south o f W est Seboeis to
Le Grange, 28 miles. V . 84, p. 692.
O R G A N T ZA T IO N .— Organized Feb. 13 1891. State o f Maine refunds
95 % o f all taxes levied. For organization see V . 66, p. 855. Owns entire
stock o f and leases for 999 years Northern Maine Seaport R R ., which in
N ov. 1905 opened extension from La Grange, Me., to Searsport, on P enob
scot B ay, 54 miles. V . 81, p. 1549; V . 84, p. 693.
S T O C K .— $2,342,000, as increased from $1,550,000 in June 1907 to a c
quire stocks o f Northern Maine Seaport and S choodic Steam R R s ., pay for
perm anent im provem ents and floating debt; 23,320 shares fu ll paid and 100
shares 5 % paid. V . 84, p. 1549.
BENNINGTON & R U TL A N D R Y .— See R utland R R .— (V . 70, p. 685.)
D IV ID E N D S .— 1 lA % semi-annually, Jan. 1904 to Jan. 1905, b oth In
B E R K S H IR E R R .— W est S tockbrldge, Mass., to Connecticut State Line,
clusive; July, 2 % ; 1906, 4 % ; 1907, J a n ., 2 % .
21 miles; Vandeusenville, Mass., to P ittsfield, 22 miles; tota l, 43 miles. A
B O N D S .— As to gold 5s on Piscat. D vision, see V . 67, p. 1159; V . 68, p.
8 4 ,3 2 9 . Van Buren Extension 5s of 1899, V . 69. p. 952. O f the consol, re consolidation in 1905 with Stockbrldge & Pittsfield and W est Stockbrldge
funding gold 4s, $12,500,000 were reserved to pay off the outstanding R R . V . 80, p. 2219, Leased April 1 1893 for 99 years to N . Y . N. H . &
bonds, Including those o f controlled roads car trusts and preferred stock, H . R R . for expenses, taxes and 6 % on stock , paid Q -J. 15 at H ousatonle
National Bank, Stockbrldge, Mass. Lease to H ousatonle R R . suspended,
and to acqu're such controlled roads; $3,000,000 for Improvements over a not
canceled. S tock , $1,078,700. (V . 80, p. 2219.)
series o f years and $4,500,000 for extensions at $25,000 per mile, Including
equipm ent. V . 73, p. 286, 896; V . 74, p. 93. The Northern Maine Seaport
BESSEMER & L A K E ERIE R R .— Leases Pittsburgh Bessemer & Lake
bonds, o f which $4,410,000 sold ($5,000,000 authorized)', are guaranteed.
Erie R R ., Bessemer, near Pittsburgh, P a ., to Conneaut H arbor, Lake E rie,
V . 81, p. 265; V . 82, p. 392; V . 84, p. 391, 692; form of guaranty, V . 81, p. 727. e t c ., with branches, a total o f 209 miles, for 999 years from April 1 1901In March 1907 the $1,000,000 Medford Extension first 5s were sold to pay owns 31 miles; tota l, 240 miles. V . 72, p. 137. Authorized to operate a
for 28-mile cu t-off under construction. V . 84, p. 692.
railroad from a point o f con nection with the Pittsburgh Bessemer & Lak*
Erie at or near Kremls S tation, P a ., to a point on the Jam estow n & Franklin
L A T E S T E A R N IN G S (1906-07______ Gross, $2,957,049; net, $990,692
R R . near Salem Station, Pa. S tock , authorized, $500,000. Controlled by
11 m os., July 1 to May 3 1.\ l905-06 ______ Gross, 2,280,268; net, 865,821
the Carnegie Co. and so b y U . S. Steel C orporation. G uaranty o f M arquette
Surplus over charges, $263,789, against $262,310 in 1906.
& Bessemer D ock & N avigation bonds, V . 77, p . 1228; V . 76. d . 1358;
A N N U A L R E P O R T .— R eport for year ending June 30 1906 was in V . 82, p . 160— (V . 82, p. 160.)
V . 83, p. 1094, showing gross, $2,496,547; net, $951,877; charges, $665,284:
other Incom e, $13,180; betterm ents, $117,842; dividends (4 % ), $62,000;
BIRM IN GH AM & ATLAN TIC R R .— 1T alladega to Coal C ity, A la ., 31
appropriation car trust " C .” $47,000; bal., sur., $72,931. In 1904-05, miles; branches, R ogans to ore beds, 9 miles, and Furnace to W elslngers,
gross, $2,159,072; net, $782,359.—-V. 84, p. 1549; V . 85, p. 158.
3 miles; tota l, 43 miles. S tock , $ 1 ,000,000, all com m on; par o f shares
BANQOR & PORTLAN D R Y .— (See Ma-p Del. Lack. <fc W est.)— Portland $100. B onds, $500,000 forty-year first 6s, due N ov. 1 1931 ($1,000 each).
to Bath. P a ., 29 miles; Nazareth Jet. to Martin’s Creek 5 m .; other branches Interest, payable M. & N ., In default. Year ending June 30 1906, gross,
$31,851; def. under o p er., $9,848; bond Interest, not paid. President,
5 m .; tota l, 39 m . S tock, $510,000, all acquired In 1900 b y Del. Lack. & Sidney
H . March; Sec. and T reas., John Carlsen, 25 Broad S t., New Y o rk .
W est. R R . D ividend, 1900, 6 % ; 1901, 5 % ; 1902, 4 % ; 1903, 7 % ; 1904, 8 % ;
1905, 15 % ; 1906, 20 % . For cal. year 1906, gross, $294,615; net, $129,187;
BIRM IN GH AM TE RM IN A L CO.— Has under construction passenger
charges, $26,872; dlv. (2 0 % ), $102,000; b a l., sur., $315.
terminals at Birmingham , A la .
Stock all owned b y the Illinois
BATH & HAMMONDSPORT R R .— Bath, N Y.. to H am m ondsport, N. Central, Southern R y ., Seaboard A ir Line, Central o f Georgia, St. Louis &
Y ., 10 miles Control acquired by Erie R R In 1903. In 1904 foreclosure San Francisco and Alabam a Great Southern, which jo in tly guarantee the
under $100,000 first m tge. was pending.; second m tg e., $200,000. S tock, bonds. O f the bonds ($3,000,000 authorized) $1,500,000 are reserved for
$100,000.
Year ending June 30 1906, gross, $37,979; net, lncl. other in additional properties. V . 83, p. 1227.
com e, $15,653; int. and taxes, $16,267; a d d ’ns and im p’ts, $2,851; bal., d e f.,
BLOOMSBURG & SU LLIV A N R R .— Owns Bloom sburg to Jam ison C ity .
$2,964.— (V . 79, p. 1954.)
P a ., 30 miles. Stock Is $600,000: par. $50. V . 6 6 , p. 80, 952
Year
BEA V ER & ELW OOD R R-— E llw ood Jet. to Hazen Coal Mine, P a .. 3 m . ending June 30 1906: gross. $125,191; net, $66,456; other Incom e. $2,139;
Leased to Pitts. & L. Erie R R for 20 years from May 1 1899, rental being Interest, taxes, & c., $54,342; balance, surplus, $14,253.— V . 66, p. 80, 952.)
4 5% o f gross earns.; rental In 1906, $12,031. S tock, $150,000; par, $100.
BOCA & LOYALTON R R .— Owns from B oca, on Central Pacific main
BEECH CRE E K R R .— (See M aps N . Y .Central A. Hud. R .R R ) — R O A D . line, northwesterly via L oyalton to B eckw ith, 40 miles; 6 miles additional
— Jersey Shore, P a ., to Mahaffey 112 m .; branches, to Phlllpsburg, to mines, main line and 10 miles o f branches; tota l, 56 miles. The Denver & R io
& c., 50 tnlles; tota l, 162 miles.
Grande on June 30 1906 owned $1,504,500 o f securities o f com pany and
* L E A S E , &c.— From O ct. 1 1890 leased to the N . Y . Cent. & H ud. R lv . affiliated com panies.
S tock , $1,200,000; par o f shares, $15. Bonds cover also R oberts Lum ber
R R . for 999 years at Interest on bonds and 4 % on stock , and since May 1
1899 operated directly as a part o f Its Pennsylvania division. V . 6 8 , p. 872. C o.’s property, com prising 52,769 acres o f pine lands, w ater-works. etc.
Carries m ostly coal and coke. See guaranty V . 52 p. 570. The bonds are en Mercantile Trust Co. o f San Francisco Is m ortgage trustee. They are sub
dorsed with New Y ork Central's guaranty o f principal and Interest. See je ct to call for sinking fund at 110 and Interest. V . 76. p. 1191. Earnings
for year ending July 31 1904: R ailroad, gross, $145,126; lum ber, gross
V . 52 p 570.— (V 75. p. 1398.)
$228,088; total, $373,214; total net. $146,310.— (V . 81, p. 667.)
BEECH C REEK EXTENSION R R .— (See M ap* N . Y . Cent. & Hud Rlv )
BOONVILLE ST. LOUIS & SOUTHERN R Y .— B oonviile to Versailles,
— Clearfield, Pa. to Keating, 52.1 miles; Rosslter to Rosslter J et,, 3'.2 m .;
M o., 44 miles. Leased to M o. P ac. till July 1 1910 at annual rental o f
M cElhattan to Browns. 1.2 m. Curwensvllle to Bower, 15.8 m .; Mahaffey to
A rcadia. 13.1 m ; Harmon to Boardm an. 13 m .. branch to Irvona, 16.3m ,; $25,000, taxes, expenses, etc. S tock, $250,000; par o f shares, $125.
3 other branches, 11.5 m .; total, 126.2 miles. A low-grade coal line leased
BOSTON & A L B A N Y R R .— Owns from B oston, Mass., to A lbany, N. Y
to N. Y . Cent. <Sc Hud. R lv. R R . (which owns entire $5,179,000 stock) for
200 miles; numerous branches. 104 miles; leased lines. 88 miles; totai
999 years from June 1 1905, bonds being guaranteed, prln. & Int. O f the
operated, 392 miles. A consolidation o f Decem ber 1867.
consols, part Is reserved to retire, dollar for dollar, old bonds. V . 80, p.
Leased In 1900 for 99 years to the New York Central & Hudson R iver R R
1174, 1479; V . 81, p. 30; form o f guaranty, V . 82, p. 1267.— (V . 81, p. 30; for guaranteed rental o f 8 % per annum on the $25,000,000 stock, payable
V . 82, p. 1267.)
quarterly (March 30, e t c .), organization expenses. Interest on bonds, taxes
BELLIN GH AM B A Y & BRITISH COLUM BIA R R .— Bellingham to Gla expenses o f m aintenance, etc. The B. & A . received for certain property
cier, W ash., 44.16 m .; branch from H am pton to Lynden, 5.31 m .; spurs, not Included In the lease $5,500,000 In N. Y . Central 3 H % 100-year deben
8.34 m .; yard track and sidings, 7.50 m .; total, 65.31 m. S tock, $1,000,000, tures, thus adding .77 % per annum to 8 % guaranteed on stock. See lease
all owned by New Y ork and San Francisco parties. Year ending June 30 In V . 69, p. 282; V . 69, p. 1061, 1102, 1246; V . 70, p. 74; V . 71, p 645,
1906, gross, $221,216; net, $63,325; other Income, $3,988; int. and taxes, 963. Bonds o f 1901, $2,500,000, were for terminal facilities at Boston of
which $1,000,000 Issued. V . 71, p. 1218; V . 72, p. 44; V . 7 5 , p. 752.
$57,446; b a l., sur., $9,867. P res., H. H . T a ylor.—V . 81, p. 840.)
D IV ID E N D S .— Cash dividends at the rate o f 8 % yearly were Dald for
BELT LINB RY. OF MONTOOMER Y.— Owns real estate and a belt line
In M ontgom ery, A la ., about one mile o f track on Tallapoosa, Bell, Perry and m any years prior to the lease. Since 1900 8 >4%. v iz .; 2 % each In March
Columbus streets. A tlantic Coast Line R R . pays an annual rental o f $15,- and Septem ber, 2 ± i % in June, an d 2H % In December.
531. A tlantic Coast Line R R . owns about 92 % of the $200,000 stock, par,
E A R N IN G S as reported to State Railroad Commission b y lessee:
$100. Year ending June 30 1906, gross, $20,596; net, $14,976; bond
Year—
Gross.
N et.
Other In c. In t., divs.,& c.
B al.,su rp .
Interest, $12,000; bal. sur., $2,976.
1905-06 ------ $11,205,074 $3,746,452 $415,419 $3,851,068
sur$310,803
BELT R A IL R O A D & STOCK Y A R D OP IN D IA N A P O L IS .— Owns 14 1904-05
10,384,574 3,157,418 363,891
3,554,513
d ef 33,204
miles o f belt road, etc. Leased for 999 yeaxs to Ind . Union— which see.
— (V . 74, p. 150, 629; V . 75, p. 732, 1301; V . 83, p. 686.)
2!
RAILWAY STOCKS AND BONDS.
J u l y . 1907 .
22
IN T E R E S T OR D IV ID E N D S .
F or expl nation of column headings, & c., see notes
on first page of tables.
Size, or
M iles Date
Am ount
Par
of
of
Road. B onds. Value. Outstanding
Boston & Albany (Concluded)
Bonds (not mortgage) $5,000,000
Bonds $2,500,000 cu rren cy............
Boston & Lowell— S to c k __________
Bonds 20 years not m ortgage____
Bonds
do
do
____
Bonds
do
do
____ Boston & Maine
____ gives a rental
Bonds
do
do
Bonds
do
do
____ f guaranty for 99
years.
Bonds
do
do c * . .
Bonds
do
do c * _ .
Bonds
do
do
____
____
B onds
do
do
B onds
do
do
o ....
Bonds
do
do
____
Boston & Maine— S tock, com m on and scrip ______ OB
Preferred stock 6 % non -cum ulatlve____________ OB
Im provem ent bonds s f not m ortgage or subj to call_
B onds (not mortgage) for Im provem ent & re f-.c & r
Bonds not m ortgage g o ld ......... ...... _____________ c&r
Bonds exchanged for Fitchburg stock (V .7 0 ,p . 175)
S
B onds not m ortgaged $1,000,000.
Bonds ($2,000,000, not mortgage
Bonds not m ortgage (20 y e a r ). .
Bonds (not mortgage) cu r r e n c y .. _____________ c&r
Portsm outh Great Falls & Conway 1st M assumed ..
Port & R och Term inal bonds (no mort) a ss u m ed ..c
______
Notes. S 3 . 0 0 0 . 0 0 0
Boston & Providence — Stock 10 % guar 99 yrs Old Col
B onds, not m ortgage................ — ________________c*
Boston Revere Beach & Lynn— S to c k ________________
First mortgage $1,000,000 gold . . ................SB.c* &r
Boston Terminal Co— First mortgage cu rrency.O B .c& r
Bruce Mines & AI— 1st M $250,000 guar p & i r e d . .
Rate
%
4
$ 1,000 $3,627,000
1,000
1 ,000,000
3H
100
6,599,400
8
4
1889
1,000
350,000
4
1892
1,000
1 ,000,000
4
1893
1,000
1,000,000
1895
1,000
4
500,000
4
1896
1,000
750,000
4
1,000
414,000
’9 7 -’98
’9 9 -’01
1,000
939,000
334
1,000
250,000
1903
3J4
1905
1,000
500.000
3 Vi
4
1,000
1906
500,000
4
1907
1,000
325,000
100 See text. 7 In 1907
6
100
3,149,800
4
1887
1,000
1,919,000
4
1892 1,000 &c
2,500,000
1894
1,000
6 ,000,000
434 g
1,000
5,454,000
1900
3 g
1,000
1 ,000,000
1901
3 )4
1,000
1903
2 ,000,000
334
1905
500,000
1,000
3^
1906 1,000 &c 1 0 ,000,000
4
73 1877
500 &c
1 ,000,000
434
4
1892
500
113,500
3,000,00,.
5
1907
100
4,000,000
10
68
1,000
’8 8 -’ 93
2,170,000
4
100
850,000 See text.
850,000
9 1897 1,000 &c
434 g
1897 1,000 &c 14,000,000
3>4
500
17 1902
150,000
5 g
1893
1901
BOSTON & LOW ELL R R .— R O A D .— Owns B oston to Low ell, 26 miles;
branches— Salem and Lowell, 17 miles; Lowell and Lawrence, 12 miles;
others, 45 miles; Middlesex Central, 11 miles; leases— Connecticut & Passum psic, 146 miles; Nashua & Lowell, 15 miles; Peterborough, 10 mllea;
Northern N. H ., 83 miles (and subsidiary lines 90 m iles); Stony Brook R R .,
13 miles; W ilton R R .,1 5 miles. Leases m ostly assumed by B oston & Maine.
L E A S E S .— Leased In 1887 for 99 years to the Boston & Maine at 7 % per
annum on stock till Jan. 1 1897 and 8 % thereafter.
STOCK A N D BON DS.— Stock authorized, $6,849,400, being increased
$250,000 In Jan. 1907. The debentures were described on page 2. SU PP.
o f A pril 1895. In March 1907 $325,000 20-year 4s dated J u ly 1 1907 were
sold to retire the bonds m aturing on that date. V . 85, p. 39.
BOSTON & MAINE R R .— R O A D .— The system with Its m any branch
lines covers the territory from B oston, Mass., to Portland, Me. (two divi
sions), Springfield. Mass., Sherbrooke, Can., R otterdam Jet. and T roy ,
N. Y ., W orcester Mass., to Portland, M e., and all Important places In New
H ampshire.
a See this com pany.
Lines owned.
M iles.
Lines leased— (Concluded.) M iles.
B oston, Mass., to Portland, M e.,
F itc h b u r g ______________________ a458
via W estern D ivision _________115 Nashua & L ow ell_______________ a l5
B oston to Portland, Eastern D ly 108 W orcester Nashua & R och ester. a94
Connecticut R iver R R __________ a8 l
Conway June., M e., to North
Conway, N. H _____ __________
73 O t h e r . . _____ ___________________ 72
9
Portsm outh Electric R y ________ 18 Trackage r i g h t s ________________
Portland, M e., to Rochester,
54 Total operated July 1 1906____2,288
N . H ..............................................
2d track (3d & 4th track 10) . . 521
N o. Cam bridge Jet. to N orth
am pton. M ass________________ 96 Controls Maine Cent, (which see) 816
St. Johnsbury & Lake Champ. 131
Sundry b ra n ch e s _______________ 148
Y ork Harbor & B each________ 11
Lines leased.*
V erm ont V a lle y _____________
24
Boston & L ow ell________________ a469
Sullivan C ou n ty_____________
26
Concord & M ontreal___________ a478
O R G A N IZ A T IO N , E T C .— A n agreement with New Y ork New H aven &
Hartford regarding division o f territory was made In 1893, V . 56, p. 464.
In June 1907 the New York New Haven & H artford acquired about
$12,000,000 (about 4 0% ) o f the stock, which was exchanged, share for share,
for stock o f that com pany, but further purchases ceased on passage of the
“ anti-merger la w ,” which prevents consolidation prior to July 1 1908.
V . 84, p. 1365; V- 85, p. 39, 160.
S T O C K .— O f the $24,638,070 stock outstanding July 1906, $1,128,200
was held b y trustees as collateral for Eastern R R . certificates of Indebted
ness. V . 69, p. 129. Stockholders In A ug. 1906 subscribed for $3,627,500
o f the stock at $165 per share, to be paid in full Sept. 1 1906, or op tion
ally in four equal installments on Sept. 1 1906, June 29 1907, A ug.
31 1907 and Dec. 31 1907, the proceeds to be used on account of proposed
expenditures aggregating $8,700,000, Including $5,000,000 for equipm ent,
& c., raising am ount outstanding,w hen fully paid, to $28,265,570; balance
to be sold as required. V . 81, p. 899, 974, 1174; V . 82, p. 1378; V . 83.
p. 154, 491.
D IV ID E N D S ./ ’ 87. ’ 88. ’ 89. ’90. ’91. '92. '93. ’94-’98. ’ 99. 1900-0ct07
On com m on
1 10 9
9
9H 9
8
8
6 yearly 6J4 7 % yearly
B O N D S .— A s to debentures see Issue o f A pril 1895.
In March 1906 $10,000,000 20-year 4 % currency bonds dated Sept. 1 1906
were sold to refund and pay bonds and notes maturing Sept. and O ct. 1906
and for other necessary purposes. V . 81, p. 974, 899, 1174; V . 82, p. 567;
V . 83, p. 36. The Railroad Commissioners in O ct. 1906 granted authority
to issue $152,000 bonds to purchase the Danvers R R . and $306,000 bonds
to acquire the N ewburyport R R . V . 83, p. 322. Stockholders on O ct. 10
1906 authorized $500,000 bonds to provide for paym ent o f bonds maturing
in 1907, &c. V . 83, p. 817. Notes payable March 31 1907, $5,515,000.
In Jan. 1907 $3,000,000 one-year notes were sold, o f which $1,000,000 e&ch
dated Jan. 15, Feb. 1 and March 1 1907. V . 84, p. 101.
Boston & Maine guarantees $1,328,000 first 5s of St. Johnsbury & Lake
Champlain. Also Interest on $274,000 Manchester & Lawrence 4s. Jointly
with Maine Central guarantees $300,000 Portland Station bonds.
E A R N IN G S .— For 3 m onths ending Marahr 31:
3 m os.—
Gross.
N et.
Other inc. Int.,taxes.&c. B al., su rv .
1907
.
$30,625,954 $7,098,099 $499,232 $6,128,972 $1,468,35 9
1906
29,480,608
7,728,755
421,978
6,180,827
1,969,906
A N N U A L R E P O R T .— Annual meeting second W ednesday In O ctober.
Annual report 1905-06 In V . 83, p. 813, showed results as follows:
Year ending June 30.
1906.
1905.
1904.
Miles operated June 30_______________
2,287
2,287
2,290
Passenger departm ent_______________ $13,291,584 $12,530,472 $12,338,182
Freight departm ent.................. ............. 23,847,550 21,808,070 20,788,779
Mails, express. & c.....................- ........... 2,075,069
1,874,703
1,767,647
T otal gross earnings_______________ $39,214,203 $36,213,245 $34,894,608
Net earnings____________ _________ $9,860,834 $9,593,505 $9,622,701
N et, Including other i n c o m e .. ...........$10,482,919 $10,181,094 $10,199,585
Interest
_________________________ 1,474,670
1,486,169
1,482,296
Rentals
___________________ 5.074,554
5,069,578
5,083,278
Taxes ”
______ _______
1,745,490
1,605.490
1,633,270
D iv id e n d s '” ! ________________ _______ 1,834,646
1,806,646
1,779,000
Sinking fund ________________ - _______
136,285
136,285
151,285
Balance, surplus..................................
$217,273
$76,926
$70,456
O F F IC E R S .— Pres., Lucius Tuttle; 4th Vlce-Pres. and General A uditor
W . J. H obbs; T reas., Herbert E. Fisher
Office, Boston.
Directers— Lucius Tuttle. Richard O lney, W alter Hunnewell, Bo*ton;
Joseph H. W hite, Henry M. W hitney, B rookline, Mass.; L. C. Ledyard.
Henry F. D lm ock, C. M. Pratt, New Y ork ; Samuel C. Lawrence Medford:
A. W . Sullow ay, Franklin. N H .; W m . W hiting, H olyoke. Mass.; Alexander
Cochrane, Boston; Moses W illiam s.— V . 84, p. 1365; V . 85, p. 39.)
BOSTON & PROVIDENCE RR — Owns B oston, Mass., to Providence
U. I , 44 miles: branches. 2* mile*.
Leased 09 years. April 1 1888. to Old
Colony R R .: rental 1 0 % yearly on stock. In June 1907 a law was signed
perm itting consolidation with Old Colony R R . V . 84, p. 1487.
When
Payable.
Where Payable, and by
Whom.
A & o Office, Term . S ta., Bost
do
do
J & J
J & j At Office, Boston
A & o
do
do
do
A & C)
do
do
F & A
do
do
do
M & vS
do
do
J &
J
do
A & C)
do
do
do
J & J
do
do
M & N
do
do
M & S
do
M & N
do
do
do
.1 & J
A t Off,Causeway St, Bost
do
do
M & S
do
F & A
do
do
F <& A
do
do
do
J & J
do
do
J & J
do
do
M & M
do
do
J &
J
do
F & A
do
do
do
M & S
do
do
J & D
do
A & O
do
do
do
Various
Boston Term , R oom 424
Q— J
do
do
J & J
.)
&
J Office, or checks mailed
J &
J State St Trust Co, Boston
State National Bk, Bost
T ext.
J & D Knickerbocker Tr C o,NY
©
1
Cl
R A IL R O A D S .
IV o l . l x x x v .
RAILWAY STOCKS AND BONDS.
Bonds— P rinci
pal, When D u e.
Stocks— Last
Dividend.
Oct 1 1913
Jan 1 1951
J U y 2 1907 4 %
April 1 1909
April 1 1932
Feb 1 1913
March 1 1915
July 1 1916
Oct 1917 & 1918
1919 & 1921
May 1 1923
Sept 1 1925
Nov 1 1926
Ju ly 1 1927
Oct 1 1907 1 H
Sept 3 1907 3
Feb 1 1937
Aug 1 1942
Jan 1 1944
July 1 1950
N ov 1 1921
Jan 1 1923
Feb 2 1925
Sept 1 1926
June 1 1937
Oct 1 1907
Jan-Mch 08
July 1 1S07 2 H
July 1 1918
July 1 1907 3%
July 15 1927
Feb 1 1947
June 1 1952
BOSTON REVERE BEACH & LYNN R R — Owns narrow-gauge road
from Lynn to East Boston, Mass., 9 miles, connecting with Boston by com
p a n y’s ferry-boats; W lnthrop Division, East Boston to W inthrop, 5 m iles.
Of the 4)^s o f 1897 balance unissued Is for Improvements. V . 65, p. 68
V . 83, p. 379. Notes payable July 1 1906, $290,000.
D IV ID E N D S. 11888-91. '92. ’ 93. '94. 95. ’ 96. ’97 to J u ly ’ 05. ’ 0 6 ._ ’ 07.
4 Below
P ercen t.
/7 yearly. 5>4
5 4J4 4
3
2 yearly.
In 1907, Jan., 2 % ; J u ly, 3 % .
E A R N IN G S .— Year ends June 30.
Bal. ,sur.
Year—
Gross.
Net.
Int.& taxes.
D ivs. paid.
$2,018
1905-06_____ $747,610
$98,211
$62,193
(4% )$34,000
1,062
1904-05.......... 654,588
78,440
60,378
(2 % ) 17,000
— (V . 69, p. 95J; V . 81, p. 1722; V . 83, p. 270, 379; V . 84, p. 1365.)
BOSTON T E RM IN A L CO.— Owns Southern U nion D epot In Boston
opened In 1899. V . 6 8 , p. 40; V . 69. p. 591. Boston & A lbany, New Eng
land, Boston & P ro v .. Old Colony and N Y . N. H & H artford R R . Cos.
each owns one-fifth of the $500,000 capital stock and pay as rental In m onthly
Instalments sums sufficient to pay all expenses, charges. Interest on bonds
and 4 % on stock. These com panies are Jointly liable for any deficiency In
case o f foreclosure. R eg. int. payable Q .-F .; coupons F . & A .— V . 69, p. 591)
B R O CK VILLE W ESTPORT & NORTHW ESTERN R Y .— V . 82.P.1267.
BRUCE MINES & ALQOM A R Y .— V . 76. p. 704.
BUFFALO C REEK R R .— Owns 6 miles o f terminal road in B uffalo, N . Y .
In Decem ber 1889 leased for term of charter less one day to the Lehigh V al
ley and the Erie R R ., which together own entire capital stock o f $250 000.
Rental is Interest on bonds and 7 % on stock .— (V . 84, p. 50.)
BUFFALO ROCHESTER & PITTSBURGH R A IL W A Y .— (See M a p .) —
Operates from Buff, and R o ch ., N. Y ., to bituminous coa l regions.
O R G A N IZ A T IO N , &c.— Successor In March 1887 to the R ochester &
Pittsburgh, which was foreclosed In Oct 1885. Plan of reorganization In
V . 41, p. 516. The entire capital stock ($4,000,000) of the Rochester &
Pittsburgh Coal & Iron Co. was owned (V .6 6 , p .1088) and through that com
pany In May 1896 control was acquired of the Jefferson & Clearfield Coal &
Iron Co. (see that Co. under “ Industrials” ) with $3,000,000 stock. In 1906
the stock of the R och. & Pitts. C. & I. C o. was transferred (subject to the
lien o f the general mortgage) to the Mahoning Investm ent C o., having
$4,200,000 authorized stock In $100 shares,In consideration o f $4,125,000
stock, the latter being distributed Dec. 1906 pro rata In proportion o f 2 5%
among the holders of R y . com m on and preferred stocks.
V. 83, p. 1468.
For bonds of these coal cos. see table above. Clearfield & Mahoning
securities are guaranteed. Allegheny & W estern, see below . In Aug.
1901 allied interests purchased upwards o f 25,000 acres o f coal lands in
Indiana C o., Pa. V . 75. p. 183, 347. Lake Ontario Car ferry, V .83, p. 329.
Trackage (Con.) —
M iles
Lines owned in fee—
M iles.
Penn. R R .— Penn. R R . Jet. to
Buffalo Creek, N. Y ., to Howard
V lntondale, P a ............................. 18
J et., P a .......................................... 81
Clarion Jet. to Lindsey, P a ........... 60 Other ................................................. 6
Leased— Entire stock owned—
Rochester to A shford, N. Y ......... 94
Charlotte, N Y ., to Lincoln P ’k . 10 Johnsonburg & Bradford R R .—
H oward Jet. to Mt. J e w e t t.. . . 20
Indiana B ranch............................... 63
Leased— Stock not owned—
Five branches.................................... 20
Allegheny & W estern— a
Trackage—
Punxsutaw ney to Butler, Pa.
Erie— Mt. Jewett to Cl&rlon Jet. . 21
66
B alt. & Ohio— Butler, P a ., to
N e w ca s tle ...................................... 41 Clearfield & Mahoning— a
Clearfield to Beech Creek R R . . 26
R ibold Jet., P a ., to Allegheny
2
City P a ...................................... 33 Mahoning Valley R R ......................
W illow Grove to P ittsburgh, P a . 7
T otal July 1906 (aSee separate statement for this co m p a n y )................568
S T O C K .— The stockholders voted N ov. 21 1904 to Increase the com m on
stock from $9,000,000 t o $12,000,000, to com plete the Indiana branch and
for other capital requirements. O f the new stock, $1,500,000 was sub
scribed for In 1905 by stockholders at par. V . 79, p .685, 1905: V .80. p 116.
’04 05. ’ 06. 1907.
D IV . ( % ) ) ’93. ’ 94-96. ’97- ’ 98. ’ 99. ’00 ’01. ’02. ’03
6
6 F e b .,3
6
6
6
6
P r e f . .. VIH
0
1 2
2
6
6
6 F e b .,3
4
4
5 14 6
Com . . J .................................................
B O N D S.— General 5s for $5,573,000 are reserved for prior bonds. &c.
The $2,000,000 debentures of 1897 In the treasury are convertible Into com
m on stock at par and subject to call at 102 H : they are to be secured by any
subsequent m ortgage unless made for refunding existing prior Hens or for ex
tensions exclusively. See V . 64, p. 706; V . 73, p. 1009, 1111. R . & P. In
com e 6s, $5,000.
Stockholders voted April 25 1907 to authorize a mortgage to secure an
Issue o f $3 5 ,000,000 50-year consols to bear not over 4 34 % interest, o f which
$3,000,000 issuable at once, $18,145,000 to retire underlying obligations at
or before m aturity and the remaining $13,855,000 to be reserved fpr future
requirements after Ju ly 1 1908 at not over $1,500,000 yearly in 1908 or
subsequent calendar years, or such larger amount in any year as stock
holders m ay authorize. In June 1907 $1,000,000 were sold. V . 84, p.
867, 1306; V . 85. p. 39. In March 1907 made a $1,000,000 6 % lo a n .
V . 84, p. 930.
A sinking fund of 5 % will retire ser. A . B and C equipment bonds annually
on May 1, if purchasable at or below par; otherwise to be applied to the
purchase o f additional equipm ent. V . 6 8 , p. 1131; V . 71, p. 501; V . 73, p.
848. Series D and E have an annual slnfelng fund o f 6 % for purchase of
bonds Sept. 1 and May 1, respectively, at 105 and Interest; if not pur
chasable. bonds may be drawn by lot: Series E m ay also be called as an en
tirety at 105. Series F m ay be purchased by sinking fund at not over par
or drawn b y lo t at par and m ay also be drawn at 102 and Interest on an j
Interest d a y. V. 84, p. 1365. Real .estate m ortgages, 5 % , $304,000.
E A R N IN G S .— 11 m os.,\1906-07------ Gross, $7,784,118; net, $3,047,8X8
J u ly 1 to May 31.
J1905-06------ Gross. 7,338,259; net. 3.072.010
F or 9 m onths ending March 31 1907, net, $2,309,375., apalnst $3,016,948
in 1905-06; other incom e, $39,467; charges, $1,462,871; bal., *ar., $880,971.
&c................................
RAILWAY STOCKS AND BONDS
Ju l y , 1907.]
23
G E N E R A L PLAN
OF THE FURNACE PLANT OF THE
BUFFALO & SUSQUEHANNA IRON CO.
AUD OF THE PROPOSED BUFFALO TERMINALS OF THE
BUFFALO & SUSQUEHANNA RY.CO. ,.
Jfmk vi lie
% 8d88£.
_ U l.
Sllrgusle:
•ines
Tr.
Jleritton
LACKAWANNA STEEL CO.
Therold
’Allanburg
Welland Jc.
Niagara Jc.
^ Port Colborne
Dunnviile
Concord ^
■Lawtons °
^
Spring-ville;
/
Reveling Centej
Ham myndsport
Fredonia I
m
Broctoi
Cr.I i C
Cherry
Westfield
A
,at.h
VW
\T T
Isohua^
\c H A T i U Q U A^Conewango
W
U‘aUL a < ^ _
,Great Valley
SaJattanca
Randolph xS
Northeast
Campbell
Uinsdale
Carrollton
Chautjui
tT—V® Falconer
Jamestown i
Erie~ - i? » Dp iS O N i
^^FREEMAN
W
oCooks
Riverside Je.
VAN VLEETS
O n d ville/
^^NICHOLS A
Russell i
Union Cit'
Kinzu:
\|)
jnztia Br. Uu-arabees
V
^/\
/A \
r
\ ..
E^Wli' A
\N
^{L.Snietirport
Howard Jc:
Mai'shburg
\Gladeruiri
.Kushequt^
'laren^Ion
i<\Ludlov—
//
' X.
M t.J e J ? ^
iKantNx
Haze|
i
j/k a n e J c.
Garlield
Tryojiville
0 [Tidiouto
WTjtusviller/
Hickory ,[L
/•’ Ross Run
/
■R
E S /T
G ilfoyle /
r J-
a ll Q
<§ ) )
O
1
2 ^Bran(i;on
~
i
y
'Luc“ )da
^ (C la r io n Jc.
\Vi f 1 /i b I O N
_- T_\N:i r AV , !
Foxburg^/
HilliardXA
__O
^
, C"
'A V
/
y 7
^
\
ilossburg
<fs/\
I \
I
j
Grove)1
IlilZCi
Duhring- Johnsonbuj
/ •
°H oytville
.
R a lston //"
' Emporium'
(Beardsley!
*
iAILEY RUN
Bodine
Hallton
Slate Run
f t 1 0 Bridge \
Coal Glen o - i
JEFFERSON,
Falls CreeM
' ^ B r o S k v ille
I/
\
v------ 4: 4/J
R ^yn old svilleXJ^y
Soldier R u n ^fe
,DaguA Mines
Toby Mines
■
USH BAUGH
.i
r
Trout Run
\
in n b n ia h o n in ;
R e n o v o __ -f
^^^De^tsRun VV
, nZ/ r
ccow
y 'L L Y stjftit:otx R(Jn
7=4
I ^oun(i Jsliilld
heldgSe?' SEf-f4
?-S'
^^Huntleys
—<
1
HaneVvjlle n!" '^ 9 n ®
. .,\ J \
VWaterville
\
|\J T\\ Q \ js|'\ \-s
W illiam sport
u Unioi
Cooks Run
Jersey Sho\.
c .° ISeechville
Wliiting
b o is V
CO/1 A
_
\
/
\
/ /
B e lfo r d ^ ^
Karthaus
N G
Halls
Nisbet
Allenwood
L ock H aveir
-oganton
\ f 7W M
_I I
M <1
Leetoiya
N ELS p N *RUIv
W ilc o x \
Moshannon
/F a i jmont jU ted Bank i ''a ls to n q \
\ / 1 r. i
V
^Butler
Fall Brook
Clermont
Gardeau
W C arrier^
-Sligo
f I vi
CoaltowjJ
\
^Clarion
s l.
P u n xsu taw fl^ b ^ j^ ^ ^
Por.dhanio-^J^^p^aiwH
SnowyShoe
Wingat
wVuneauV
T R O N ^
^McGees
imxtlle r "<7
Bellefonte
' SAGA'MC#R.l
liskiminetas Jc.
M AP OF THE
Cherry Tree
Indiana
Coal port'
Hi
Patton
Vinton Dale
Bessemer
Blalraville
_
,
m
•
.^ e w f i e l d ,
^ j 4 ^ S ^ l t l E OORNEy A MitcheH1. ^
VyV^HlLLIPS
^ //
'
I vevvttjro
V/
‘/Cs^k^------- -i
Andrews
^ J T cu tler i ^^tco^anesque o y
J
I
_
Gold JT ^SUWM,T U ^>^aIiSnTsvFllD
f
1 imond
|
Colesburff^/
RUN summit
\ Mansfield Ll.
I
—^bROOKLAN^^-*1^
:
'
"Xiefiols Run
J
1 i WinlacK
yXyleJ'sbufg'" Cl^ 'g ]'2 c
'
|
‘ y/
Stokesdale
Sheffield Je.
< i
j
i
c \^~/
'JThTTsou ,—o
Cojydoiri
k o /f
Watkins Glen]
jloreland>y
V1
Bellwi
slyrone
BUFFALO & SUSQUEHANNA
SYSTEM.
Ebensbui-g
Hollidaysbi
AN D
IT S C O N N E C T IO N S .
24
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c.. see notes
on first page of tables.
M iles Date S ize, or
Amount
Par
o!
of
Road. Bonds. Value. Outstanding
[V o l . i.x x x v .
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Pat/able.
Where Payable, and by
Whom.
B onds— P rinci
pal, When D ue.
Stocks— Last
Dividend.
'
B runswick & W estern— See A tlantic Coast Line R R .
6
Buffalo Cr.— Con(now lst)M $1,000,000 g int as rent.c*
Buffalo New York & Erie— See Erie Railroad.
B uffalo Rochester & Pittsburgh— Com m on s to c k -.T r
P ref stock non-cum com m on 6 % then pro r a ta .-T r
R & P 1st M gold Rochester to S alam anca____Un.c*
108
R & P consol M $20,000 per mile gold g u a r ..U n .c*
260
275
B R & P 1st general M ($10,000,000) g o ld ____Un.c*
10
L incoln Park & Charlotte 1st M gold g u a r ..U n .c*
348
B R & P consol M $35,000,000 g o ld ____ Cex c*& r
One-year loan
_____
B K & P car trusts gold due sem i-annually_________
___
E quipm ent bonds $500,000 gold s f Ser A _____ G.c*
___
do
do
B & C $1,000,000 each gold s f ____G
do
do
D $2 ,000,000 gold red 105 sink fund
do
do
E $2,000,000 gold red 105 sink fund
do
do
F $3,000,000 gold red sinking fu n d .
...
O onstruction & imDt notes (V 83, p 1522) — ----------c
Buffalo & Susquehanna RR— Comm on stock
Preferred stock 4 % non -cu m u la tive-- - - - . .
102
First M gold sinking fund redeem at par__M e.c*& r
First refunding m ortgage gold (see text) -_M p.c* &r
243
Buffalo & Susa Rv— 1st M $6,000,000 g o ld _U s.c*& r
Equip trust bonds part due sem -ann______ U sm .c
do
dd
ser B (V 85, p 39) $29,000 s -a .-U s m
Buffalo Terminal Association— See W abash R R .
Burlington Cedar Rapids & Northern— See Chicago R ock Is
Burlington & Missouri Valley— See Chicago Burlingt on &
California Midland— 1st M $3 000 000 gold
"40
Cal N orthwest— 1st M gold ($2,000,000 guar p & f) s f
California Pacific— See Southern Pacific R R
Cal W RR & N— 1st M $700,000 gold guar s I t e x t -.c *
103
Cambria & Clearfield— 1st M ($2,000,000) g old .G P .c*
30
Bell’s Gap consol M sinking fund not draw n . GuP.c*
46
Clearfield & Jefferson first m ortgage----------GuP.c*
76
Pennsylvania & N W gen M $ 2,500,000____GuP.c*
392
Cambria & Clearfield general m ortgage g o ld ............
1891
$ 1,000
$1 ,000,000
5 S
J
&
J Farmers’ L & T r , N Y
_ __
_
_
_
100 10,500,000 6 in 1906 F & A 36 W all Street, N Y
100
do
do
6 ,000,000 6 in 1906 F & A
F & A
do
do
1,000
1,300,000
'1881
6 g
3,917,000
do
do
1882
1,000
6 g
J & D
do
do
M & S
1,000
4,427,000
1887
5 g
J & J
do
do
1889
1,000
350 000
5 g
New Y ork
1 ,000,000
1907 1,000 &c
4^ g M & N
1 ,000,000
6
1907 10,000&c.
d
o
do
1,000
39,000
&
D
1897
5 g
J
do
do
1,000
500,000
1899
4H g M & N
do
do
2 ,000,000
1,000
1900-1
4M & M & N
do
do
1,000
1,648,000
1902
4>4 g M & N
do
do
1904
1,000
1.3!i5,000
4 14 g M & N
do
do
1,700,000
1907
1,000
4MJ g A & O
1,500,000
do
do
F & A
1906 1,000 &c
4H
Q— J
4,488,950 5 in 1906
50
50
4,000,000
4
Q — M Fisk & R obinson, N Y
A & O H arvey Fisk & Sons.N Y
500 &c
147,000
1893
5 g
9,441,000
J & J Fisk & R obinson, N Y
1901 1,000 &C
4 g
6 ,000,000
1903 1,000 &c
g M & N Fisk & R obinson, N Y
1,000
784.000
5
& T N W Harris & C o, NT Y
1906
J
1,000
5
A & O N W Harris & Co, N Y
1907
540,000
1905
1891
1883
1886
1890
1905
1,000
1,000
500 &c
500 &c
1.000
1.000
$2,926,762 $3,076,315
$778,030
$724,049
472,669
477,698
660,188
1,043,723
(6)360,000
(6)360,000
(6 )49 8 ,0 0 0(4 ^ )3 13 ,0 0 0
$126,503
$73,755
$157,875
$157,845
•Balance, surplus............
•In addition to this surplus there was received from Investments and
"cred ited directly to profit and loss accou nt” $120,000 in 1904-05, $320,000
In 1903-04 and $600,000 in 1902-03.
O F F IC E R S .— Pres.. A . G. Y ates, Rochester; V ice-P res., Adrian Iselln
J r., N. Y .: T reas., J. F. D inkey, Rochester; S ec., J. H. H ocart N. Y .
Directors— Henry G. B arbey, A . G. Yates, A . Iselln J r., W m . E. Iselln,
A . Lanfear Norrie, W alter G. Oakm an, C. O ’ D . Iselln, J. H. H ocart,
W . Emlen R oosevelt, Ernest Iselln, Oscar Grlsch, John L. Rlker and
Samuel W oolverton. New Y ork office, 36 W all S t.— (V . 85, p. 39.)
BUFFALO & SUSQUEHANNA R R .— (See M a p .)— Owns and operates
from Sagamore, P a ., to W ellsville, N . Y ., with several branch lines. Includ
ing 16 miles trackage. Total m ileage, 280.70. This includes extension to
Sagam ore, 23 miles, under charters o f Southwestern Du Bois and Plumville
R R ., added to operated m ileage May 1 1907. V . 77, p. 768, 1301; V . 78,
p. 102; V . 80, p. 710.
From Ju ly 1 1907 the com pany Is leased to the Buffalo & Susquehanna
Railway for rental o f interest on bonds and divs. o f 4 % on pref. stock.
B U F F A L O & SU S Q U E H A N N A C O A L & C O K E CO.— This com pany,
the securities of which are owned b y the B. & S. R R . owns coal lands at
M edix, Du Bols, T rou tville, Onondaga and Sagamore, Pa. These lands are
estimated to be underlaid with about 100,000,000 tons of coal. Tw elve
mines in operation, annual capacity 3.000,000 tons. V . 77, p. 1301; V 79,
p . 2091-2; V . 82, p . 1322.
P O W H A T A N C OAL & C O K E CO.— This com p a n y, all o f whose securi
ties are owned b y the B . & S. R R ., owns coal lands at T yler and at Sykesvllle, underlaid with about 26,000,000 tons o f coking coal. B oth Its coking
plants, with capacity of 800 tons o f coke daily, are operated and are shipping
to Buffalo for the use o f the Buffalo & Susquehanna Iron Co.
S TO C K .— Comm on stock, all except directors’ shares, owned b y B. & S.
R y ., $4,488,950; par of shares, $50. Preferred, $4,000,000 4 % non-cum .;
par, $50. See application to list, V . 78, p. 2389; V . 82, p. 568.
D IV ID E N D S .— On com m on, 4 % In 1895 and 5 % y ea rly since, paid Q -J.;
on pref., 1 % quar. March since date o f Issue, beginning with Sept. 1902.
B O N D S . — The 5 per cents o f 1913 have been reduced b y the operation o f
the sinking fund and b y refunding into 4s o f 1951 to $147,000. T hey are
subject to call at par for sinking fund In order o f num bers, beginning with
highest. V . 65, p. 234.
T he 4 per cents o f 1951 are secured Dy a first refunding m tge. on the entire
property, and are further secured b y deposits o f purchase m oney mtges.
aggregating $3,000,000 on coal lands estim ated to be w orth $6,000,000;
outstanding $9,441,000.
Further amounts m ay be issued at n ot over $25,000 per m ile for the
construction or acquisition o f additional road; also for new terminals, m ort
gage securities o f coal properties and new equipm ent. V . 73, p. 619.
T otal authorized issue, $15,000,000, but additional amounts at $15,000 per
mile m ay be issued for double-tracking mileage already covered b y the
m ortgage. V . 73, p. 619, 899; V . 84, p. 748. Sinking fund o f 3 cts. per
ton o f coal m ined by coal com panies m ortgaged to be Invested in the bonds.
If purchasable at not exceeding 1 10 % ; otherwise in securities legal for sav
ings banks.
E A R N IN G S .— 11 m os.,11906-07............Gross, $1,686,278; net, $514,191
July 1 to May 31.
J 1905-06______ Gross, 1,417,196; net, 504,496
For 6 m os. ending Dec. 31 1906, net, $323,814, against $291,144 in 1905;
other incom e, $96,263; fixed charges, $175,284; other deductions, $65,460;
bal. for dividends, $179,333.
R E P O R T .— Report for year ending June 30 1906 was given at length In
V . 83, p. 1091, 1116, showing gross, $1,522,729; net, (over ta x e s), $535,213;
other incom e, $137,613; total Income, $672,826; in t.. rentals, & c., $426.320; net incom e, $246,505; adding surplus from previous years, $577,334,
and deducting div. on com ., $222,845, and div. on p ref., $130,000, leaves
total surplus o f $470,994.— (V . 84, p. 673, 748.)
BUFFALO & SUSQUEHANNA R Y .— (See M ap.) — Owns from ’W ellsvllle
N. Y ., to Buffalo, 86 miles. From July 1 1907 this com pany leases B. & S.
R R . for 999 years for Interest on bonds and a guaranteed dividend o f 4 %
yearly on the preferred stock.
Has acquired com m on stock o f B. & S. R R . C o., and thus controls road
extending from B uff., N. Y ., to Sagam ore, P a ., abt. 60 m . north o f PIttsb.,
w hich, with its several branches, will have a total mileage o f about 370
miles. A t Sagamore are situated the principal coal mines o f the Buffalo &
Susquehanna Coal & Coke Co. The Buffalo & Susquehanna Coal & Coke
Co. and the Powhatan Coal & Coke Co. (V . 75, p. 922; V . 79, p. 2061,
2091-92) are located on the lines o f the B. & S. R R . Shipments over the
B . & S. system b y these com panies will am ount to at least 3,000,000 tons
per annum . (See V . 76, p. 593.)
The Buffalo & Susquehanna Iron C o., a closely affiliated corporation, has
erected tw o blast furnaces on a tract of land adjoining the terminal prop erty
1 1941
Feb 15 1907 3 %
Feb 15 1907 3 %
Feb 1 1921
Dec 1 1922
Sept 1 1»37
Jan 1 1939
May 1 1957
Mch 11 1908
1907-1908
May 1 1919
M ay 1 ’ 20-’ 21
N ov 1 1919
Mav 1 1922
April 1 1927
Aug 1 1909
.luly 1 ’07, 1 Vi
June 1 1907 1 %
Oct 1913
April 1 1951
April 1 1953
Jan ’08-July ’ l «
O ct ’07-Apr ’ 17
land & Pacific R y and also R ock Isl and Co
Qulnc y .
M & N
May 1 1947
See text.
1907
5 S
A & O San Francisco & New Yk April 1 1928
l'.OOO
985,000
1898
5 g
BUFFALO ROCHESTER & PITTSBU RGH R Y . (C oncluded).
A N N U A L R E P O R T .— Fiscal year ends June 30. The annual meeting
Is held at New Y ork on the third M onday in N ovem ber. The report for
1905-06 was given at length in V . 83, p. 320, 328; see also editorial, p. 295.
In 1905-06 carried 5,204,437 tons o f bituminous coal (out of 8,377,375 total
tons of freight m o v e d ), against 6.234,260 In 1904-05.
Year end. June 30—
1906.
1905.
1904.
1903.
Miles June 30.....................
568
538
499
472
Gross earnings__________ $7,797,248
$8,138,275
$7,496,521 $7,249,686
N e te a rn in g s.............. .. .$ 3 , 0 0 0 ,8 8 2 $2,848,733 $2,893,325
$3,028,082
32,204
22,805
33,437
48,233
Other In c o m e ............ ..
T otal receipts________$3,033,086
$2,871,538
Interest on bon d s______
$800,289
$793,174
R e n t a ls ..............................
492,867
485.835
Special appropria’ ns, &c.
623,427
618,774
Dividend on preferred
(6)360,000
(6)360,000
Dividend on c o m m o n ... (6)630,000 ,,(6)540,000
Jan
380.000
1,279,000
145,000
1 ,000,000
1 .021,000
1 ,210.000
5 g
5 g
6
6
5
4 g
J
J
A
J
J
F
&
&
&
&
&
&
J First Tr & Sav B k, Chic
J Broad St Station, Phila
do
do
o
do
do
J
do
do
J
do
do
A
July
Jan
April
Jan
Jan
Feb
1908-1926
1 1941
1 1913
1 1927
1 1930
1 1955
o f the B. & S. R y . on Lake Erie at B uffalo. This com pany owns its own
coal mines and coking plants, which are located on the lines o f the B . & S.
R R . See V. 75. p. 922; V . 79, p. 2061, 2092. Connection is m ade at
Buffalo with the Buffallo & Susq. S. S. C o., owned b y affiliated interests.
S T O C K .— A uthorized, $10,000,000; Issued, $9,000,000; par, $100.
BO N D S.— The first 50-year gold 4 ,^ s (authorized issue, $6,000,000, all
outstanding) are secured by a first lien on valuable terminal property at
Buffalo and the 86 miles of railroad in New York State; also b y deposit
with the United States Trust C o ., trustee, o f all the com m on stock of
the B . & S. Railroad Co. (5 % yearly dividends p a id ), am ounting to $4,488,950. (V . 74, p. 1040.) See V . 76, p . 593; V . 79, p . 2695. O f the eq u ip
ment trust 5 % bonds o f 1906, $44,000 mature Jan. 1 and $43,000 July 1
yea rly. V . 82, p. 1495.— P res., Charles W . Goodyear.— (V . 84, p. 1306,
1550; V . 85. p. 39.)
’ ’ B U R LIN G TO N .” — See C H ICAGO B U R L IN G T O N & Q U IN C Y R R .
BURLINGTON CED AR R A P ID S & NORTHERN R Y .— In 1903 title was
acquired b y deed b y Ch. R . I. & Pac. R y. C o., the holders o f the outstanding
unexchanged stock (about $172,200--total Issue $7,150,000) being guarant’ d
the paym ent o f 6 % divs. J .-J ., as called for b y the lease.— (V . 82, p. 1040.)
C A L G A R Y & EDMONTON R Y .— Owns Calgary, Canada, to E dm onton,
Canada, 191 miles, and to Fort M cLeod, Canada, 104 miles.
In Feb. 1903 a new lease to the Canadian Pacific (which owns entire $1,000,000 stock) for 99 years was ratified, under which the 6 % bonds (£1,121 ,700) were exchanged for an equal am ount o f debenture stock, on which in
terest is guaranteed at 4 %. A t the term ination o f the lease the principal of
the bonds will be paid at par or a further lease entered Into. V . 76, p. 434;
V. 77, p. 1224. The stockholders voted on Sept. 20 1904 to Issue bonds to
build the Lacom be and W estaskiwln branches, each about 50 m ., under
construction. V . 79, p. 1027, 1265. Proposed bonds on bridges over
Saskatchewan R iver not exceeding $1,000,000. See V . 80, p. 116.
C A LIF O R N IA M ID L A N D R R .— V . 84, p. 693. .
C A LIF O R N IA NORTHW ESTERN R Y .— Owns U kiah to north o f Sher
w ood , C al., 40 m ., and leases San Francisco & North Pacific R y ., P oint Tiburon, Cal. (whence ferry to San Francisco 6 m iles), to Ukiah, C al., 106
miles, and branches, 71 miles. In Jan. 1907 the tw o roads, with other roads,
were taken over b y the N orthwestern Pacific R R ., incorporated with $35,000,000 authorized stock. V . 84, p. 101. Bonds guaranteed b y San Fran
cisco & North P acific, leased for net profits for 20 years from Sept. 20 1898.
Year ending June 30 1906 (217 m iles), gross, $1,607,639; net, $554,308;
Interest and sinking fund, $330,081; balance, surplus, $224,227. (V . 83
p. 271; V . 84. p. 101.)
C A LIF O R N IA -W E ST E R N R R. & N AVIGATION CO.— Owns Ft. Bragg,
Cal., to Alpine, 2 3H m
Mtge. provides for extension from Alpine to head
o f N oyo R iver. 9 m ., thence to W lllits. 9 Vi m. Stock authorized, $1,000,000;
par, $100. Mtge. covers also terminals, railroad wharf and 18,000 acres o f
tim ber land. Bonds are guaranteed, prin. and Int., by Union Lum ber C o.,
and redeem able at 105 at end o f any year In reverse o f numerical order. The
present Issue matures $20,000 yearly, and remaining $280,000 are to fall due
In equal yearly Installments. Sinking fund, see V. 81, p. 1435. N et
earnings applicable to Interest for 6 m os. ending Dec. 31 1905, $39,998.
Pres., Frank T ru m bull.— (V . 81, p. 1495.)
(THE) C AM BRIA & C L E A R F IE L D R Y .— Cresson Jet. to H oover’s Mill
Branch J et., 50 m .; Bellwood to H oratio, 61 m .; Cresson to Irvona, 27 m .;
Kaylor to Black L ick, 37 m .; Vail to Gram plon, 50 m .; Bradley Jet. to
Cherry Tree. 18 m .; branches, 150 m .: total, 393 m. A consolidation A ug. 1
1903. V . 78, p. 828. S tock, $4,833,850, o f which $4,829,350 owned by
Penn. R R . C o., which operates road. A full abstract o f mtge. securing 5s o f
1891 was in V . 52, p. 976. Of the bonds, $634,000 first 5s and $597,000
gen. 4s were on Jan. 1 1907 owned b y the Penn. R R . For year ending
Dec. 31 1906, gross, $2,657,703; net, $440,076; other Incom e, $41,736; Int.,
taxes, & c., $31.7,541; d ivs., $145,015; bal., sur., $19,256 — (V . 77, p. 298.)
CAMDEN & BURLINGTON COUNTY R R .— Owns from Cam den. N. J.
to P em berton, N. J ., 23 miles; branch, Burlington, N. J ., to Mount H olly,
7 m .; tota l, 30 m. Operated b y Penn. R R ., which guarantees 6 % on stock.
S tock, $381,925; par, $25. In 1906, gross, $310,937; net. $16,336; loss
t o lessee under rental, $21,080.— (V . 64, p. 373.)
C A N A D A ATLAN TIC R Y .— Owns D epot H arbor, O n t., on Georgian
B ay , via O ttaw a, to V erm ont State line, 400 m .; trackage to SwantoD, V t.
e tc., 10 miles; lease for 99 years Central Counties R y ., Glen Robertson to
H awkesbury, 21 m. and South Indian to R ockland, 17 m .; owns greater
part o f stock o f Pem broke Southern R y. branch from Pem broke to Golden
Lake, 21 m . (V . 82, p. 451, 1101); tota l. 468 m . The Grand Trunk a c
quired the road and took It over Sept. 30 1905. V . 81, p. 1174.
Canada A tlantic Transit C o., $1,000,000 stock, operates steamers. Parry
Sound to D uluth, Milwaukee and Chicago. V . 69, p . 954; V. 70, p. 279.
The 50-year 4s o f 1905 (authorized Issue, $16,000,000; R oyal Trust C o.,
Montreal, trustee) are guaranteed, principal and Interest, by the Grand
Trunk; $2,908,000 Is reserved to retire the outstanding bonds and the
remaining $2,000,000 for future requirem ents. V . 79, p. 967, 1131, 1641,
2454; V . 80, p. 1058, 1727, 2343.
In O ct. 1906 the Central Counties R y . (leased line) proposed to apply to
the Canadian Parliam ent for authority to extend the road. Issue bonds
therefor and lease, sell or amalgam ate with other cos. V . 79, p. 2746; V . 83,
p. 817. As to Pem broke Southern guaranteed bonds, see V . 82, p. 451,1101
S T O C K .— $6,200,000 com m on and $1,000,000 preferred, all issued.
R E P O R T .— In 1905-06, gross, $1,971,028; net above taxes and rentals,
$433,651; net earnings o f steam ships. & c., $9,624; int. on bonds, $591,701;
taxes, $24,580; b al., d e f., $173,006.— (V. 83, p. 817; V . 84. p. 101.)
C A N A D A MICHIGAN & CHIC AGO.— Bonds worthless. V . 63, p. 838.
C A N A D A SOUTHERN R Y .— (.See M a p s N . Y . Cent. A Hud. Rif). R R -)—
R O A D .— Main line from Suspension Bridge station, Including the Cantilever
Bridge, to W indsor, O n t., 226 m .; branches to Courtrlght, O n t., & c., 231 m .;
tota l, 457 m ., o f which 85 miles are nom inally owned b y proprietary com
panies. Trackage, St. Thom as to L ondon , O n t., 15 m. Double tra ck ,152 m.
D etroit R iver Tunnel, under construction, see Michigan Central R R .
,i
J u l y , 1907.]
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
Camden & Burlington County— Stock 6 % guaranteed
First M gold guar p & 1 b y Un N J R R & CanCoGP.c*
Canada Atlantic— 1st M gold Ottawa to Lacolle &c.Fc*
Consol 1st M 516,000,000 gold guar prin & Interest
Ottawa Arnprlor & Parry Sound first m ortgage____
Pem broke Southern first m ortgage guaranteed_____
Central Counties first m ortgage Interest ren tal____
Canada Mich & Chicago— 1st M. See V . 63, p. 838
Canada Southern— S t o c k _____________________________
First M $14,000,000 (Can m oney). See V 63, p 188
Second M for $6,000,000 (Can m oney)
do c& r
Leam ington & St Clair 1st M gold guar p & 1 (end) _c*
Canadian Northern Ontario— Deb stock $20,000 per m
Canadian Nor— L Man R y & Can Co $8,000 p m] a
Canadian Nor & Man Divs $8,000 per mile I.St:
Gilbert Plains Branch $8,000 per m ile______ I'?Ontario D lv 1st M deb $44,700 are 4>$s____\js £
M anitoba Branch lin es_______________________ |a u
1st cons deb M (Man lines) $10,000 p m ..c & r J O
M anitoba lines second m ortgage____________________
Gunfllnt Branch bonds $10,000 per m ile___________
E rw ood extension bon d s____________________________
M anitoba Provincial bonds, $8,000 per m ile______
Perpetual consol deb stock (V 81, p 160 9 )_________
First M deb stock $13,000 p m guar b y Canadian Gov
Q u’ApLongLake& Sask deb stock £1,050,000 gu ar_.
First land grant M redeem 110 (V 75, p 183, 549) _.
Im perial R olling Stock 1st M ser A part due yearly
do
do
ser B to F $210,000 due y ’rly
do
do
ser G $45,000 due yea rly___
do
do
ser H $60,000 due yea rly___
do
do
ser K $ 100,000 due y e a r ly ..
do
do
ser L 8250.000 due yea rly___
Can.Nor.Quebee— Gt.Nor. consM $7,962,000(text) ..C e
Perpetual guar, debenture stock (see tex tt_______
Canadian Pacific— Stock $150,000,000 a u th o riz e d _
Preferred stock lim ited to 4 % non-cum ulatlve____r
Canada Central R R second mortgage (now first) . .
Canadian Pacific first m ortgage debentures sterling
M iles Date
Size, or
Amount
Par
of
of
Road. Bonds. Value. Outstanding
30
30
138
261
1897
1889
1905
$25
1,000
1.000
$ & £
1.000 000
aTodo W orthless
459
404
404
16
268
125
287
27
287
1878
1883
1895
1906
1896
1899
1900
1901
...
l'904
'6 7
1903
----
$381,925
350.000
3.450.000
4.981.000
150.000
380.000
1906
-----
249
1903
1906
...
1902
1903
1904
1904
1905
1906
1905
269
3,221
1880
1885
IN T E R E S T OR D IV ID E N D S .
Rate
%
6
4 g
5 g
4 g
5
4
5
100
1,000
1,000 &c
1,000
15.000.000 See text.
5
14.000.000
6,000,000
5
130.000
4 g
1,101,370
3X
£100
£53,100
4
£100
£395,800
4
£100
£5,800
4
£100 £1,804,500 4 & 4 H g
$ 101,000
~£~& ~$" £2,039,700
354.000
1,660
669.000
693,900
349.000
500
£100 £2,240.000
£1,923,287
756,681
£100 $ 2 ,000 ,000
$ 1,000
1,060,148
$ or £
1.470.000
$ or £
360.000
480.000
500 &C
900.000
500 &c
2.200.000
See text.
................
100
100
£100
£100 &c
O R G A N IZ A T IO N , & c.— The com pany was chartered in Canada Feb. 28
1868, and debt readjusted in 1878. In 1903 m ade a new lease to Mich. Cent,
for 999 years, the latter guaranteeing dividends on the stock at 2 >4 % yearly
t o 1910, thereafter 3 % ; also authorizing a m ortgage to retire existing
bonds and pay for Im provem ents. V . 76, p. 1191, 1247; V . 77, p. 950; V .
84, p. 803.— (V . 80, p. 2457; V . 82, p. 568, 927; V . 84, p. 803.)
C AN A D IA N NORTHERN ONTARIO R Y .— T oron to, O n t., C an., to Sud
b ury, 268 m ., (150 m . op erated), with branch to French R iver, on Lake
H uron, thence connecting by steamship with Port A rthur. Under con
struction from Hawkesbury to O ttaw a, to be continued to French R iver
Jet. and later from Ottaw a to T oron to. Name changed from James Bay
R y . June 30 1906. V . 83, p. 154, 212; V . 79, p. 903, 2697. The debentures
are secured b y deed o f trust to National Trust C o., o f T oron to and the Brit
ish Empire Trust Co. o f L ondon, and guaranteed, prin. and in t., b y the
Ontario G ovt. V . 83, p. 212, 968; V . 84, p. 930. In Feb. 1907 the Cana
dian G ovt, was asked to guarantee the bonds at $20,000 per m ile o f a pro
posed line from a point 9 miles above Parry Sound to North B ay, about 75 m.
V . 84, p. 449; V . 83, p. 1468.— (V . 83, p. 968; V . 84, p. 930.)
C AN A D IA N NORTHERN QUEBEC R Y .— Owns m ain line between
R lv-a-Pierre, on line o f Quebec & Lake St. John R y .. to H awkesbury
on the Canada-Atlantic R y ., 169 miles; branches, 39 m .; Joliette to M on
treal, 37 m .; tota l, 245 m . Extension from Garneau Jet. to Q uebec, 90 m .,
and branch from M ontfort Jet. to Saint Jerom e, 20 m ., to be com pleted
In 1907. Owns elevator, car shops at Q uebec, &c. V . 71. p. 1220. S tock ,
co m ., $4,550,000; p ref., $3,450,000.
Am algam ation July 1906 o f Great Northern R y . with Chauteaugay
& N orthern and the Quebec New Brunswick & N ova Scotia R ailw ay,
the latter projected from Quebec to Quebec Bridge and thence through
Maine to a point near M oncton, N. B ., thence through W estm oreland
and Cumberland counties to Pugwash and New Glasgow, &c. V . 83, p. 271.
On June 11 1906 the Quebec New Br. & N ova Scotia filed a m ortgage.
V . 82, p. 986; V . 79, p. 2696; V . 83, p . 155. In O ct. 1906 It was proposed
to a pply for permission to lease the road to the Canadian Northern or Ca
nadian Northern Ontario R y . V . 83, p. 1036.
The Great Nor R y 4s o f 1905 ($7,962,000 authorized per plan V . 79, p.
2795, are subject to call at par during ten years from date. O f the bonds,
$ 4 ,9 6 2 ,0 0 0 ,guar. prin. and Int. b y Canadian N orthern R y..w ere Issuable to
retire old bonds and pay off other liens and debts, and remaining $3,000,000,
at not over $20,000 per m ile, for additional mileage. Suit on Great N or.
E lev. m tge., V . 81. p. 1315.
The shareholders O ct. 22 1906 authorized an Issue of 4 % perpetual
debenture stock guaranteed b y the Canadian Northern, limited to an am ount
sufficient to provide for old bonds Issued b y Great Northern and Chateaugay
& Northern and Quebec New Brunswick & N ova Scotia, and not exceeding
$20,000 per mile hereafter constructed or acquired. In O ct. 1906 holders
o f $1,514,500 o f the $5,462,000 Gt. Nor. R y . bonds and all o f the Chateaugay Northern and Quebec New Bruns. & N ova S cotia bonds had consented
to exchange their bonds for this debenture stock, and £1,000.000 Issued
therefor was subscribed for b y the public. V . 83, p. 968; V . 83, p. 751;
V . 84, p . 6 93,748.
Pres., D. B. Hanna, T oron to; 1st V .-P ., James M cN aught, 35 Nassau St.
N . Y .— (V. 83, p. 155; 271 751, 968, 1036; V . 84, p. 693. 748.)
C A N A D IA N NORTHERN R Y .— Operates from Port A rthur, O n t., on
Lake Superior, to W innipeg, and thence Into N orthwestern Canada.
M iles. |
M iles.
Port A rthur to W innipeg_________439 |Arizona Jet. to Morris and BranW lnnlpeg to K am sack___________ 279 | don J e t_________________________ 77
Stanley Jet. to Gunfllnt__________ 67 |Brandon Jet. to Carberry J e t____ 23
Carman Jet. to B elm ont_________49 IDelta Jet. to D elta ________________ 15
Portage Jet. to International
|Neepawa Jet. to McCreary J e t___70
b ou n d a ry......................................... 63|Namsack to E dm on ton__________ 548
Morris to Som erset........................... 62 ISlfton Jet. to W lnnepegosis________ 21
H artney Jet. to B randon_________ 40 |Emerson to RIdgevllle_____________ 12
Belm ont to V lrden........................... 9 1 1Greenway to A d e lp h a - ..................... 52
Gilbert Pis. Jet. to Prince A lbert-361 |Oak P t. Jet. to Oak P oin t________54
R ossburn Jet. to R ossburn______ 79 |W innipeg Transfer Line__________ 11
T otal, June 30 1906 (Including 351 miles leased from N or. P a c .)_____ 2,482
Extensions o f 620 miles from Grandview to E dm onton and 100 miles from
Prlnoe A lbert easterly were com pleted late In 1905. Other lines con tem
plated will bring total mileage approxim ately to 2,788 miles. The Canadian
Northern Ontario and Canadian Northern Quebec railways, allied com
panies (which s ee), will afford access to Montreal and Quebec. In Dec. 1906
It was proposed to apply for permission to build 14 branches and extensions
and increase the powers in regard to issuing bonds, V . 83, p. 1468.
In A ug. 1906 the Qu ’Appelle Long Lake & Saskatchewan R R . & Steam
boat C o., Regina to Prince A lbert, 249 miles, was acquired, the £3,809,140
outstanding bonds being offered £ l0 7 per £100 bond In 4 % debenture stock
guaranteed, prin. and Int., b y Canadian Northern R y ., and the £275,000
certificates for unpaid Interest £30 per £100 In the debenture stock. R oad
operated under lease since Jan. 1907. See V . 83, p. 214, 324, 688, 1036.
In Dec. 1906 the same interest acquired 51% o f the $6,000,000 stock of
the Quebec & Lake St. John R y ., Quebec to R oberval, on Lake St. John,
189 miles, with branch from Cham bord to Chicoutim i, 51 miles, and one
nearing com pletion from Riviere a Pierre Jet. to St. Tlte, 40 m iles. V . 83,
p. 1348, 1410; V . 84 p. 1181.
O R G A N IZ A T IO N .— W illiam Mackenzie o f T oron to, Senator George A .
Cox and the Canadian Bank o f Comm erce are backing the enterprise.
The M anitoba lines o f the Northern Pacific R y ., 351 miles, are sublet
from the Provincial Governm ent for 999 years from May 30 1901 at $210,000
annually for first 10 years, then $225,000 for 10 years, then $275,000 for
10 years, and thereafter $300,000, with option o f purchase for $7,000,000.
Manitoba G overnm ent has option to purchase entire property In 1929.
See below and V . 72, p. 437; V . 73, p. 615.
L A N D G R A N T .— O f the entire land grant, 2,455,466 acres, abou t
363,000 are held for accou nt o f M anitoba Governm ent In connection with
guaranties, 533,000 for a ccou nt o f Dom inion G overnm ent as security for a
25
RAILWAY STOCKS AND BONDS.
434
434
4
4
3
4
4 g
5 g
5
5
When
Payable.
Where Payable, and by
Whom.
Bonds— P rin ci
pal, When D u e
Stocks— Last
Dividend.
J
F
&
&
&
&
J B road St Station, Phila
do
do
A
J Bank M ont, N Y & Mont.
J
do
do & Lond.
July
Feb
Jan
Jan
M
&
S
S ept 1 1956
F &
J &
M &
A &
M &S
A Grand Cent Station, N Y
J U nion Trust Co, N Y
do
do
S
O Bank o f M ontreal, Mont
31
J & D 30 L ondon and T oron to
J & D 30
J & D 30 L ondon , T oron to & N Y
J & D 30
J & D 30 L ondon , Eng
M 31-S30
do
N at Tr Co, T or or L ond
C Bk o f Com , N Y ; or Tor
do
or L on d on , Eng
do
T oron to or Lon
do
do
434 g A & O N Y , T oron to or London
do
do
4X g J & D
4
A & O New Y ork
4
J & U 31
£1,000,000
121,680,000 See text. A & O L ond & 31 Pine St, N Y
4
42,719,999
A & O C om pany’s Office, L ond
6
973,333
Various Montreal
34,998,633
J & J Baring Bros & C o., Lond.
5 g
1907 3 %
1 1927
5 1909
1 1955
A ug 1 1907 1 H
Jan 1 1908
March 1 1913
Oct 1 1945
July 10 1936
A ug 1 1926
Feb 1 1929
N ov 1 1930
June 30 1930
June 30 1930
June 30 1930
June 30 1930
June 30 1930
June 30 1930
Oct 1 1930
Irredeem able
July 10 1953
July 1 1936
Feb 1 1919
N ov 1 1906-’ 12
Aug 1 1907-’ 13
Sept 1 1907-’ 14
1907-1914
Oct 1 1907-*15
June 1 1908-’ 16
April 1 1935
Perpetual
A pr 2 1907 3 M
A pr 1 1907 2 %
N ov 1 1910
July 1 1915
mall contract subsidy, the remaining 1,500,000 to be sold from tim e to tim e
through a selling agency; V . 76, p . 1083. See V . 75, p. 183, 549; V . 81,p. 263.
S T O C K .— June 30 1906, authorized, $30,750,000; p ar, $100; all paid
B O N D S .— On W innipeg and Saskatchewan divisions there have been
Issued first m ortgage bonds, guaranteed principal and Interest, b y the
Governm ent o f M anitoba, at $8,000 per mile; also second m ortgage bonds,
unguaranteed, $2,000 per m ile. See V . 75, p. 1353; V . 71, p. 235.
In July 1903 Canadian Governm ent guaranteed 50-year first mortgage 3 %
debenture stock, at $13,000 per m ile, for the construction o f 620 miles from
Grandview to E dm onton and 100 miles from Prince A lbert easterly. V . 80,
p. 1 2 3 4 ;V . 76, p. 1299.
In Dec. 1904, $4,866,666 (£1,000,000) first consolidated mortgage deben
tures on M anitoba lines, guaranteed, principal and interest, b y Governm ent
o f M anitoba, were sold, being part o f an authorized issue at $10,000 per
mile. V . 80, p. 116: V . 78, p. 1274; V . 79, p. 2794; V . 81. p. 1607. In
March 1906 £577,500 additional was listed in London. V . 82, p. 568. In
March 1906 branch line bonds were offered the op tion o f exchange for 1st
consol, deb. 4s. V . 82, p. 691.
In Jan. 1905 the M anitoba G overnm ent was asked to guarantee $2,890,000
additional bonds, v iz.: $1,000,000 for W innipeg term inals, a line to Oak
Point on Lake M anitoba and bridge over Assinibolne R iver and $1,890,000
for 189 miles o f branches. V . 80, p. 710.
The Ontario Division 4 34s (see V . 72, p. 338, 437) were m ostly In 1902
exchanged for 4s, guaranteed, principal and Interest, b y the Governm ent o f
M anitoba. V . 74. p. 882; V . 75, p. 1398; V . 71, p. 235.
In 1903-1905 £2,240,000 perpetual consolidated debenture stock was Issued
to acquire securities o f controlled properties. V . 76, p. 1247; V . 77, p . 87;
V . 80, p. 996; V . 81, p. 609. A s to Im perial Rolling Stock 5s o f 1902, see
V . 75, p. 1353: Of 1903, V . 77, p. 1746, 1873; o f 1904, V . 79, p. 1641; o f 1906
V . 82, p. 1267; V . 84, p. 506. See also V . 81, p. 1550. In Dec. 1906 o r
dered equipm ent to cost $4,825,000 for 1907 delivery. V .8 3 , p. 1523.
Great Northern R y . o f Canada bonds are guaranteed. V. 79, p . 2454.
also Canadian Northern Quebec perpetual debenture stock. V . 83, p. 751.
E A R N IN G S .— 11 m o s.,11906-07____ Gross, $6,530,000; net, $1,785,100
July 1 to May 31.
J1905-06____ Gross, 4,951,000; net, 1,698,300
R E P O R T .— R eport for year ending June 30 1906 (2,482 miles) was In
V . 83, p. 1092, showing gross, $5,903,755; net, $2,229,023; charges, $1,509,448; surplus, $719,574. In 1904-05 (1,876 m iles), gross, $4,190,212;
net, $1,545,482.
P res., W illiam Mackenzie; V .-P ., D . D . Mann; 3d V .-P . and Gen. M gr..
D. B . H anna; Treas., A . W . Mackenzie; S ec., W . H. M oore. O ffice,
T oron to, Can. Directors— W m . Mackenzie, D . D . Mann, Z. A . Lash,
Frederick Nicholls and R . M. H om e-P ayne. (V . 84, p. 1247, 1427.)
C AN A DIA N PACIFIC R Y .— R O A D .— Owns a trans-continental railway
from Montreal to the Pacific Ocean, m ade up as follows July 1 1906:
Montreal to V a n co u v e r.. . . . . . 2 , 9 0 5 Under construction July 1 1906 924
Branches and auxiliaries........... 2 261 Operated account o f ow ners. . . 438
A lso controlled but oper. sep.—
Leased lines................................... 3,518
Used Jointly....................................
93 aMlnn. St. P. & Sault Ste. M. .2,153
ezDuluth South Shore & A tlantic 593
T otal in traffic returns........... 8,777
a See each com p a n y’s statem ent.
H IS T O R Y , E TC.— Incorporated F eb. 18 1881 under charter from D o
m inion o f Canada, receiving $25,000 000 In cash as a subsidy, also 25,000,000 acres o f land, all to be fit for settlem ent. Operates trans-Atlantic and
P acific steamship lines; also steamers to Alaska.
S T O C K .— The issue o f preferred must never exceed one-half the com m on
stock. In Feb. 1907 about $5,000,000 preferred stock was sold, raising to ta l
am ount out to $42,719,999. V . 84, p. 338, 693. The stockholders voted
March 19 1906 to Increase the com m on stock to $150,000,000. O f the new
stock, $20,280,000 was subscribed for b y stockholders pro rata at p ar, in
creasing the am ount outstanding to $121,680,000. The new stock is
entitled to dividends for half-year ending Dec. 31 1906. V . 82, p. 333, 691.
D IV S .— 90-’94 ’95. 96. ’ 97. ’ 98. *99. ’00. ’01. '02. '03. ’04 to A pr. ’07.
•Com, %\5 yrly. 0
2
2 34 4)4 4
5345
5
5 )4
6 y e a rly .
Pref. %JIssued In 1894. 4 % yearly (2 % A . & O.)
*
A lso 1 % extra to be paid In 1907 from interest on land sales, v i z .. 34 %
A pr. 1 and
% O ct. 1. See “ General Finances” below and V . 83, p . 817.
B O N D S. D E B E N T U R E S T O C K , G U A R A N T E E D B O N D S, E T C .—
List o f securities held against consolidated debenture stock In V . 83, p. 501.
In June 1890 com pany agreed to guarantee th e p rin cip a l and interest o f
$20,000,000 4 % , bonds to be issued b y the Dul. South Shore & A tl.; also
4 % interest on consolidated bonds o f the Minneapolis St. Paul & Sault Ste.
Marie, and in 1899 Interest on the second m ortgage 4s o f the latter, and In
1901 interest on $1,254 000 Mineral R ange 4 % bonds, the last-nam ed being
all owned June 30 1906. See V , 50, p . 874; V . 51, p. 239; V . 52, p . 608;
V . 68, p. 669, 770; V . 73, p. 556. Owns Dul. S. S. & A tl. consols. $15,107,000.
St. Lawrence & Ottawa bonds are endorsed with the Canadian Pacific’s
acceptance o f a 999-years’ lease at a rental sufficient to pay 4 % interest on
bonds, and the bondholders agreem ent to accept Interest at 4 % (instead o f
6 % as form erly), and to refrain from dem anding principal (due 1910) during
continuance o f lease.
The New Brunswick Railway consolidated debenture stock has interest
guaranteed b y Canadian Pacific; interest on the first m ortgage bonds,
though not guaranteed. Is paid out o f rental under 990-year lease o f 1&&0.
The Calgary & Edmonton R y . debenture stock is guaranteed interest at
4 % under new lease o f 1903. V . 76, p. 435; V . 77, p. 636.
The Lindsay B obcaygeon & P ontyp ool R y . bonds are Issued under a
99-year lease covering- the interest. V ..7 7 , p. 1225: V . 79 p. 2085.
In 1906 proposed to guarantee T oron to Union Station Co. bonds. V,. 82,
p . 451. In N ov. 1906 It was proposed to apply for authority to issue n ot
exceeding $35,000 debenture stock per mile on the T oron to-S ud bury branch,
229 miles. V .8 3 , p. 1098.
Car trusts outstanding June 30 1906 $2,579,366.
L A N D S .— Lands unsold June 30 1906 were 9,501,733 acres o f Canadian
Pacific grant and 237,545 acres o f M anitoba South W estern gran t, 108,697
Great N orth-W est Central grant, 3,499,378 British Colum bia Southern and
[V o l . l x x x y .
RAILWAY STOCKS AND BONDS.
26
R A IL R O A D S .
F or explanation of column headings, <fec., see notes
on first page of tables.
Rate
%
£100 &c $3,650,000
£1 &c 101,519,411
5 g
4
183 1888
Canadian Pac (C oncluded)— IstM onA lgom aB r g .c * &r
Consolidated perpetual debenture s to c k __________
. . . 1889
Securities of Principal Leased, E tc., Lines.
M anitoba S W Col R y $12,000 per mile int gu ., gold
218 1884
350 1887
A tlantic & Northwest— 1st m ortgage gold gu ar.c* &r
St Lawrence & Ottawa— first m ortgage gold see text
58 1876
Ontario & Quebec stock guaranteed in perpetuity
671
Ontario & Quebec deben interest guar in perpetuity
191 1883
T oron to Grey & Bruce 1st M gold, Interest as rental
174 1884
N ew Brunswick R y 1st M gold lnt from ren tal____c*
1890
Perpetual consol debenture stock, Interest guar
1890
C algary & E dm onton deb stock gold interest as rent
"52 1905
Branch line bond? $1,040,000 (owned b y Can.Pac.)
Lindsay B obcayg & P on typ ool 1st M $700,000 gold
40 1903
Minn St P & Sault Ste Marie and Duluth So Shore & A tlan tic— S
1901
Cane Belt— 1st M $3,000,000 red’ able after 5 yrs g o ld . All
Carolina Central— Bonds— See Seaboard Air Line R y .
Carolina & Tennessee Southern— See Southern R y .
46 1892
C arthage & Adir— 1st M $1,600,000 gold gu _U n.c*& r
C arthage Water & Sack Har— 1st M gold guar p&l end
29 1891
Catasauqua & Fogelsville— First m ortgage g .-P e P .c *
1898
Catawissa— Pref stocks 5 % guar P & R R y . See teat
*98
First consol m ortgage $2,215,000 g o ld __ PeP c*
103 1898
16 1885
Catsklll M t’ n.— 1st M , ($2,000 n o t e x t , from 1 9 0 5 )..
1885
Flrst Incom e b o n d s ________ ______ ________________
C ayuga & Susquehanna— S tock 9 % rental D L & W
'3 4
Cedar Rapids Iow a Falls & Northwestern— See Chlcag 0 R oc k Islan
Central Branch— Cent Branch U P 1st M g o ld .-U n .c*
100 1898
Central Branch first m ortgage guaranteed g o ld ..M e
288 1899
312 1895
Central of Georgia Ry 1st M $7,000,000 g o ld __ G.c*&r
Consolidated m ortgage $18,500,000 g o ld -.M e .c ’ &r 1,471 1895
138 1895
Mobile D lv 1st M (Columbus to Andalusia) g o ld . G c*
M acon & N or D iv 1st M $840,000 g o ld ____MBa.c*
102 1895
77 1901
O con D lv 1st M Brewton to Dover $6,000 p m _.S .c*
1897
M id Georgia & A tl D lv 1st M $9,000 p m c u r ..G .c * T ext
21 1896
E atont Branch 1st M not guar b y Cent Ga g o l d ..
164 1901
Chattanooga D lv purch m oney M $2,400,000 g ..S .c *
Chattanooga R om e & So 1st M $500,000 g o ld . U.c*
138 1897
U pper Cahaba purchase m oney M gold red 102 )4 - -N
10H 1905
When
Payable.
J
J
<5b
&
J &
J
&
J & D
J &
J
&
J
&
F &
J &
J 3 &
J &
J &
ies.
J &
D
J
15
D
D
J
A
J
J
J
J
1,100,000
1,000
4 g
300,000
1,000
5 g
135,000
1,000
4 g
5
3,200,000
50
2,215.000
1,000
4 g
5
39,000
1,000
238,000
6
100 &c
589,110 See text
30
d & P a d fic R y and R o ck Isl
2,500,000
1,000
4 g
1,000
3,459,000
4 g
7,000,000
1,000
5 g
5 g
1,000 17,200,000
1,000
1,000,000
5 g
840,000
1,000
5 g
462,000
1 000
5 g
5 cur
413,000
1,000
168,000
500
5 g
2,057,000
1,000
4 g
1,000
343,000
5 g
540,000
1,000
4 g
J
J
J
M
A
F
&
&
&
&
&
&
D
J
J
N
O
A
T otal e a r n in g s .._____ __________ $61,669,758 $50,481,882
N et earnings ........................................ $22,973,312 $15,475,088
Tnterest received___________________ 1,969,447
1,584,664
$46,469,132
$14,213,105
1,691,269
$24,942,759 $17,059,752
F ixed charges - ....................................$8,350,545 $7,954,066
For steamships, &c________________
580,000
230,000
Dividends on com m on stock _____ (6)6,084,000 (6)5,577,000
D ividends on preferred stock _____ (4)1,660,133 (4)1,514,133
$15,904,374
$7,586,097
230,000
(6)5,070,000
(4)1,352,073
Balance, s u rp lu s............................. $8,268,082 $1,784,553
$1,666,204
— V . 83, p. 489 , 500, 817, 890, 966 , 1098; V . 84, p. 338, 390, 693
CANE BELT R R .— Sealy to M atagorda, 93 miles. Branch to Garw ood,
9 miles. The L incoln Trust Co. o f St. Louis is the m ortgage trustee.
Bonds are issuable at $15,000 per m ile, but all bonds abov e the $750,000
now outstanding will be in subordination to the lien o f the latter on the
present m ileage. V . 77, p. 2338. S tock, $100,000, all acquired in N ov.
1903 b y A tchison Topeka & Santa Fe, which leases the road for 50 years
from July 1905. V . 77, p. 2097. Year ending June 30 1905, gros*,
$223,810; net, $47,611.— (V . 77, p. 2338.)
C AR O LIN A & NORTHW ESTERN R Y .— Owns standard-gauge road
Chester, S. C ., to Lenoir, N. C ., 110 m. Controls Caldwell & Northern Lenoir
to E dgem ont. N. C ., 25 m. R eorg. in 1897 of Chester & Lenoir, foreclosed.
In Mch. 1900 nearly all stock was acquired b y a syndicate. Stock author
ized. $1,000,000 each o f com . and 4 % non-cum pref.; outstanding, July
1905, $854,250 com . and $550,000 pref. stock. Of the 50-year 1st gold 5s
due July 1 1953 (Standard Trust Co. of New Y ork , trustee), $1,500,000 were
used to retire all underlying bonds and $1.000 000 are applicable to exten
sions, new equipm ent, &c. Year 1905-06 (1 1 0 m .), gross, $326,821; net,
$133,071; total deductions, $84,093; b a l., sur., $48,978. Pres., W m . A .
Barber, 5 Nassau S t., N. Y .— (V. 77, p. 348.)
C ARTH AGE & A D IR O N D A C K R Y .— (See M a p s N . Y . Central.)— Owns
from Carthage to Newton Falls, N. Y ., 46 m. The entire stock , $500,000, is
owned b y the N. Y . Central R R ., which in May 1893 leased the property in
perpetuity and guaranteed Its $1,600,000 bonds, of which $500,000 were for
extensions. &c.— (V. 57. p. 218.)
CARTH AGE W ATE R TO W N & SACKETT’ S HARBOR R R .— [See M a p s
N . Y . Central.)— Owns from Carthage to Sackett’ s H arbor, N. Y ., 29 miles.
Controlled b y N. Y . Central, which owns $484,100 of the stock and guaran
tees the bonds. Leased to R . W . & O. for 3 7 14 % o f gross earnings. Rental in
cal. year 1906, $42,734. Cap. stock, $465,845 com m on and $21,500 pref.
C ATA SAU Q U A & FO G ELSVILLE R R .— R oad from Catasauqua, Pa , to
R ittenhouse Gap, P a ., 29.5 m. Opened In 1857; in 1890 the Phila. & Read,
acquired control through ownership o f a m ajority o f the capital stock of
$426,900 (par, $25). Of the stock $254,125 is owned b y Reading C o., $251,625 being deposited as part security for R ead. gen. m ort. o f 1897. Dlvs.
paid in 1903-04. 7 % ; In 1904-05, 8 % ; in 1905-06, 8 % . For year ending
June 30 1906, grgss, $136,814; net, $76,929; deductions, $32,839; dividends,
$34,152; b al., sur., $9,938.— (V . 81, p. 1492.)
C A TA W ISSA R R .— Owns from Tam anend, Pa. to N ewberry J et., P a .,
98 m ., and branches, 6 m. Re-leased Dec. 1 1896 for 999 years to Phlla. &
R ead. Railway. R ental, int. on bonds, 5 % dividends on pref stock, all taxes
and $8,000 for organization expenses. See also V . 63, p. 969, 1116. O f the
pref. stocks, in 1906 $2,200,000 was first preferred and $1,000,000 second
preferred and com m on was $1,159,500; par $59.— (V . 72, p. 1187.)
C AT S K IL L MOUNTAIN R Y .— Owns narrow-gauge road from Catsklll,
up the Catsklll M ountain, to Palenville, N. Y ., 16 m .; leases Cairo R R .,
Cairo Jet. to Cairo. N . Y ., 4 m .; tota l, 20 miles. S tock, $89,000. There are
also second Incomes for $15,600, 6 %. First incom es have one vote for each
$100. D lv. on 1st incom es, 5 .8 2 8 1 % , paid Sept. 1906, the first since 1897.
V . 83, p. 817. E A R N IN G S .— Year ending June 30 1906, gross, $75,303;
net, $29,257; Interest, & c., $16,205.— (V . 83, p. 817.)
CA Y U G A & SUSQUEHANNA R R .— Owns from Susquehanna R iver to
Ithaca, N . Y ., 34 m. Leased during length of charter and renewals thereof
to the Delaware Lack. & W estern at a rental of $54,600 a year. Dlvs. paid
are 9 % yearly, w ith an occasional extra am ount; in 1904 9 ^ % was paid.
CEN TRAL BRANCH R Y — (See M a p M issouri Pacific.) — Owns Lenora
to A tchison K a n .. 293 m .; Jam estown to Burr Oak, K a n ., 33 m .; branches,
Where Payable, and by
Whom
Bonds— P rin ci
pal, When D u e.
Stocks— Last
Dividend.
J Baring Bros & C o, L ond. July 1 1937
J Com pany’s Office, Lond. Irredeem able.
$1,000 $2,544,000
5 g
£100 &c £1,330,000
5 g
(6) 4
£200,000
£50 &c
6
£100 £2,000,000
5
£1 £4,007,381
£719,000
£100
4 g
£630,000
£100
5 g
4
£904,533
£1
£1,121,700
4 g
4
$1,0(56 $1,040,000
500,000
1,000
4 g
ee statem ents of thos e com pan
750,000
1,000
5 g
125,997 acres o f Columbia and K ootenay grant; tota l, 13,473,350 acres.
In addition there will be acquired through the Colum bia & W estern R y .
about 2,500,000 acres. Total sales in 1905-06, 1,115,743 acres, for $6,513,452. T a x decision. Feb. 27 1905. V . 80, p. 996.
G E N E R A L F IN A N C E S .— In 1902 stockholders subscribed to $19,500,000 new com m on stock at par, In 1904 to $16,900,000 and In March 1906
$20,280,000 at par payable during year. V . 74, p . 378; V . 82, p. 333, 691.
In Feb. 1907 about $5,000 000 pref. stock was sold. V . 84, p. 338.
Stockholders on O ct. 3 1906 authorized the Issue of consolidated deben
ture stock at not over £3,000 per m ile, to construct various branches, a g
gregating 136 miles; also the lease of certain lines. V . 83, p. 5 00,817
966. In A ug. 1905 double-tracking betw een Fort W illiam , O n t., and
W innipeg, 427 m ., was begun, to cost about $10,000,000. V . 81 ,p .6 6 7 ,1170.
In July 1906 the last o f the $15,000,000 land grant bonds was paid off,
leaving the lands unencum bered; on June 30 1906 the balance due on ac
count o f land sales was $16,382,000, on which 6% Interest is received. This
Interest will be used to pay extra dividends on the com m on stock; 1 % to be
paid during 1907. V . 83, p. 817.
E A R N IN G S .— 11 m o s.,1 1 9 0 6 -0 7 ..Gross, $65,399,812; net, $22,888,202
J u ly 1 to May 31.
j 1 9 0 5 -0 6 .-G ross, 56,192,407; net, 21,035,263
A N N U A L R E P O R T .— Fiscal year 'ends June 30. Annual m eet ng is
held at Montreal on the first W ednesday In O ctober. The report for
1905-06 In full was in V . 83, p. 489, 500. See also editorial, p. 466.
1905-06.
1904-05.
1903-04.
Miles operated end o f yea r_________
8,777
8,568
8,332
$12,418,419
Passenger earnings________________ $16,041,616 $13,583,052
Freight ___________________________ 39,512,973 31,725,290
29,235,821
Mall, express and m iscellaneous___ 6,115,169
5,173,540
4,814,892
IN T E R E S T OR D IV ID E N D S .
Size, or
M iles Date
Amount
Par
of
of
Road. Bonds. Value. Outstanding
London & 31 Pine S t.N Y
Baring Bros & Co, Lond.
Can Pac Office, L ondon
Montreal and London.
Morton, R ose, London.
T oron to and L ondon .
London
do
do
Can P ac Office, London.
Can Pac Office, Montreal
Bank of M ontreal, Toron.
June 1 1934
Jan 1 1937
See text.
June 1907 3 %
Irredeem able.
July 26 2882
A ug 1 1934
Irredeem able.
2002
1955
July 1 2002
D New Y ork or St Louis
June 1 1921
Grand Cent Station, N Y .
do
do
Philadelphia, Pa.
C om pany’s Office, Phlla
do
do
Tan Nat Bk,Catsklll,N Y
5.8281 % p ald in S ept. ’06
J 52 W all Street,N ew York
D ec 1 1981
July 1 1931
July 1 1928
May 18 1907 2 X
April 1 1948
A ug 1 1915
A ug 1 1915
July 1907 4 ) 4 %
J
&
and Co
J & *D
F & A
F & A
M & N
J & J
J
& J
J & D
J & J
J & D
J & D
J & J
F & A
Mercantile Trust Co,N
do
do
Guaranty Trust Co, N
do
do
do
do
do
do
do
do
do
do
Savannah, Ga.
Guaranty Trust Co, N
Union Trust C o, N Y
Guaranty Trust C o, N
Y June 1 1948
Feb 1 1919
Y N ov 1 1945
N ov 1 1945
Jan 1 1946
Jan 1 1946
D ec 1 1945
Jan 1 1947
June 1 1926
Y June 1 1951
July 1 1947
Y Feb ’08-A ug 25
62 m . S tock, $7,585,000. D ividen d, 1 4 % , paid In year 1905-06. T he
$3,459,000 1st 4s o f 1899 are guaranteed, prln. and Int., b y the Mo. P a c.
(see V . 68, p . 329). Form o f guaranty, V . 70, p . 279. F or year ending
June 30 1906, gross, $1,876,944; net, $793,739; other receipts, $7,669; in
terest, $238,360; taxes, $108,511; im provem ents, $11,592; balance, surplus,
$442,945.— (V . 73, p. 31.)
CEN TRAL OF GEORGIA R Y .— (See M a p .)— System Includes;
Lines owned in fee.
M iles Lines leased— (see these cos.) M iles.
Savannah to A tla n ta ...................... 295 Southwestern R R . —
Macon to E u fa u la ...................... 144
Gordon to P orterdale...................... 86
F ort V alley to P e rry .................. 12
Columbus to Blrm ’gham , A l a . . . . 156
Columbus to A m erlcus.................... 62
F ort V alley to C o lu m b u s..
. . 71
M ontgom ery to Eufaula, A l a .. . . 80
Sm lthvllle to C olum bia............. 85
Columbus to Greenville, G a ......... 49
Cuthbert to Fort Gaines........... 21
Opelika to R o a n o k e........................ 36 Augusta & Savannah R R . —
Eufaula to O zark............................. 60
Millen to A u gu sta........................ 53
Griffin, G a ., to Chat., Tenn. & C .198 Chattahoochee & G ulf R R . —
Chlckam auga to D u r h a m ..............18
Columbia to L o c k h a r t..
__ _ 91
Savannah to T y b e e ........................ 18 Trackage ..........................................
1
Columbus to A ndalusia.................. 138
Macon Junction to A th ens........... 102
T otal oper. N o v . 1906......... .. 1,914
Brewton to D o v e r............................. 77
Barnesvllle to T hom aston............. 161 A lso Meldrlm to L yon s, 58 miles
(leased to Geo. & A la. R y .—
Lyerly Branch
Seaboard Air Line sys.)
Upper Cahaba branch___________ 10
Ocean Steamship C o., estimated
Greenville to R ay m on d __________ 24
equivalent o f ..................................300
Total owned (and o p e r.). . . .1 .4 1 0
Extension from Greenville to R aym on d , G a ., under charter o f Green
ville & Newnan R y ., 24 m ., was opened F eb. 1907; the line from Colum
bus to Greenville, 49 m ., being m ade standard gauge; a 1 0 )4 -mile branch
from near Leeds, A la ., to coal fields was opened July 1 1906. V . 80, p
2457; V . 81, p. 210. The Georgia Central & Gulf R y . was incorporated
on June 30 1906 to build from A lb a n y, G a., to A palachicola, 157 miles, a f
fording a line from A tlanta via M acon to the Gulf o f M exico.— V . 83, p. 95.
O R G A N IZ A T IO N .— Organized O ct. 17 1895 and N ov. 1 succeeded to the
properties of the Central R R . & Banking Co. o f Georgia, foreclosed, per plan
in V . 60, p . 1008, and V . 61, p. 68.
In June 1907 the stock, which was held b y the R ichm ond Terminal re
organization com m ittee since 1896 was sold to Oakleigh Thorne and Marsden
J. Perry, who In case o f re-sale within tw o years will retain voting control
during that time on at least 6 0 % o f the Issue. V . 84, p. 1550.
ST O C K .— $5,000,000; see O R G A N IZ A T IO N above.
P*
B O N D S .— T he first mortgage o f 1895 (described in V . 63, p. 1160) Is a
first lien on the main line from A tlanta to Savannah, including the Milledgeville branch (312 m . in a ll), all equipm ent and appurtenances, and the equity
In $1,995,000 o f the capital stock o f Ocean Steamship Co. o f Savannah.
N o div. was paid on Ocean Steamship stock in 1906. V . 83, p. 384.
Application for listing firsts and consols, in V . 63, p. 1160.
The consol, mort. (see abstract V . 61, p. 873; also V . 63, p. 1160; V . 83, p .
1347) Isa first lien upon 600 m. (including form er M ont. & Eufaia R R .,S a v .
& W estern and Sav. & A tl.); also on the leases o f the South W estern and
Augusta & Savannah roads and the stock o f New England & Savannah
Steamship C o., and a second Hen upon the main line, its equipm ent, &c.
and also on the Macon & N orthern, Mobile & Girard, and other divisions.
It also covers all leaseholds, securities &c. It m ay be increased to $18,500,000, at not m ore than $500,000 yearly for betterm ents and equipment.
M acon & Northern Division bonds are also direct obligations of the Cen
tral R y ., with first lien from Macon Jet. to Athens, G a., 102 miles.
M iddle Georgia &. Atlantic D ivision bonds are Issued at $9,000 per m ile,
o f which $8,000 was for purchase o f road and $1,000 retained by Cent, of
Ga. for betterments; subject to the E atonton Branch bonds, $168,000 on 21
miles, the firsts o f 1897 cover the 65 miles of M. Ga. & A t. D ivision.— (V . 6 5 ,
p. 823 ; V . 6 4 , p. 180; V . 65, p- 324.)
Collateral trust mortgage abstract was in V . 45, p. 242.
The Chattanooga Division mortgage is a first lien on the form er Chatta
nooga R om e & Southern R R ., Carrollton, G a., to C hattanooga. T en n ., 138
miles, and Durham to Chlckam auga, G a., 17 miles, with branches, in all 164
miles, subject to $343,000 old 5s, for which a like am ount o f bonds Is re
served. V . 72 p. 1134; V . 78, p. 1446.
Upper Cahaba Branch bonds are secured b y coal lands in N orthern A la
bam a V . 81, p. 920. 1099.
The preference income bonds, subject to the prior m ortgages, cover the
main line and the form er Savannah & W estern, Columbus & R om e. Mont
gom ery & Eufaula, M obile & Girard, Macon & Northern and Savannah &
Atlantic and other railroads, and their equipm ent &c.; also all leaseholds,
lecuritles and equities o f properties acquired b y the new com pany. T hey are
non-cum ulatlve and bear interest not exceeding 5 % in any one fiscal year,
but payable only out of net earnings as declared and secured by the deed o f
trust. In O ct. 1905 It was arranged to attach coupons to incom e bonds.
V . 8 1 , p 974, 1174
Dividends—
'96. ’97. ’ 98. ’99. '00. ’01. ’02. ’03. ’04. ’ 05. '06
On 1st pref. incom es------ 1 ^ 2 K
2
2 3 ^ 5
3
5
5
5
5
On 2d pref. Incom es____ 0
0
0
0
0
0
0
0
2
5
5
On 3d pref. Incom es____ 0
0
0
0
0
0
0
0
0
5
5
L A T E S T E A R N IN G S .\ 1906-07.-G ross, $11,296,848; net, $2,497,416
11 m os.. J u ly 1 to May 31.] 1905-0 6 ,-G ro ss , 10,546,861; net, 2,959,375
A N N U A L R E P O R T .— R eport for 1905-06 at length In V . 83, p. 377
3 8 3 ,43 2 .
Years ending June 30—
1906.
1905.
1904.
Gross e a rn in g s ..______ ______________ $11,396,123 $10,135,055 $9,396,931
T otal operating expenses____________
7,882,218
7,091,527
6,864,509
T a x e s .................. .............................. ........
352,995
326,439
322,877
Net earnings from operation............$3,160,910 $2,717,088 $2,209,545
Other sources_________________________
274,621
248,364
220,661
T otal net incom e.................................. $3,435,531
$2,965,453
$2,430,206
nuvisi
Ji-LY, 1907.J
LoraDes .
Seville
vO f 0* * V
I Rogerg
rC u 8hingvi]ie«
u sas*-*
'AI-LEy.
SVSNVX
COA&T
'OS'Movr
31I80W
RAILWAY STOCKS AND BONDS.
COAST
27
28
[V o l . l x x x y .
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
24
Cent of G aR y(C oncl)— Greenv& N ew IstM g redl02>£ N
1st pref incomes'! Interest up to 5 % ___________ Mp
2d
do
d o f gold if ea rn ed _____ __________ Ce
34
do
do j
non -cum ulatlve_____________ Ma
Central R R & Bk coll tr bonds gold red at H O .C e.c*
E quipm ent trust notes Apr 30 1907________________
L ocom otiv e & car trusts payable $131,000 s -a n .-c
E quip trust ser H $51,000 s-a (V 82 p 2 1 7 )______
...
E quip trust series I $115,000 s.-a (V 83, p 7 5 1 )..Q P
do
do
series K $38,000 sem i-an----------------Guaranteed, & c., securities.
Ocean SS Co first m ortgage gold gu aran teed--C e.c*
Steamship bonds g ass’a b y 0 SS Co $69,000 due s-a
...
Ocean SS Co equipment trusts
53
A ugusta & Savannah stock (no b onded d e b t )____
333
Southwestern Railroad stock (no bonded d e b t)____
Chattahoochee & Gulf s to c k _______________________
'91
First M gold $2,000,000 lnt rental s f red at 102 K
117
Cent Indiana— 1st M $4,000,000 guar p& i end.Ce.c* &r
Central New Eng— 1st M $1,250,000 call 105..F P .C *
58
58
General M 5 % Incomes $ 7,250,000___________ FP.r
12
D utchess County R R — 1st M gold guar______ Me.c*
Central Ohio— See B altim ore & Ohio.
Central Pacific—
1st ref M $100,000,000 gold guar p & 1 e n d ..C e .c* & r 1,349
$25,000,000 gold guar p & i e n d ---------- U s.c*& r 1,349
103
M ortgage on Luctn cu t-off t e x t ______________Q.c*&r
Notes for U S debt due $2,940,635 half-yearly-----Centra] RR of N J— Stock ($30,000,000 authorized) . .
...
, Convertible debentures convert Into stock till 1907
Cent R R o f N J gen M for $50,000,000 gold .C e.c& r Ail”
All
do
do
registered________________
E quipm ent m ortgage Series A & B $420,000 due yrly
do
do
Series C $350,000 due y e a rly ____
...
do
do
Ser D $150,000 y ’r ly (V 8 1 ,p 1847)
...
Guaranteed Bonds—
Leh & W llkesb Coal con M guar p & 1 ext in 1900
5s o f 1912 8 f not guar (not d r a w n )__________ F P.c
a O f the balance, $11,763,000 Is retained as coll. for notes
1905
1895
1895
1895
1887
’00-1-5
’02-3-5
1906
1906
1907
_
_
_
_
__
_
_
Size, or
Amount
Par
Value. Outstanding
_
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1 ,000
1,000
1899
1899
1904
1899
_
1883
1887
1887
’9 9 -’02
1903
1905
1875
1888
b y U.
1905.
$1,672,044
438,892
(5)200,000
(5)350,000
(5)200,000
1,000 12,175,000
1,000
2,691,000
S. Gove rnment.
1904.
$1,666,299
425,441
(5)200,000
(2)140,000
When
Payable.
M & S
4 g
5 In lat 16 Oct 1
5 in lyt 11/ Oct 1
5 in 1906 Oct 1
M & N
5 g
3 X & 6 Mo & qu
Various
4X
4X g F & A
& J
4H g J
M & S
5 g
J
& J
5 g
J
& J
5 g
5
5
J & J
5
J & J
5
J & J
J & J
5 g
M & N
4 g
F & A
5 g
5 g
O ct 1
(6) S J & D
500 &c a79,242,000
4 g
500 &c 16,743,500
g
9,199,000
1,000 &c
4 g
11,76 2,543
3
..........100 27,436,800 8 In 1906
6
34,000
1,000
500 &c\ b45,091,000 [
5 g
500 &c |
I 5 g
4
1,760,000
1,000
4
1,000
2,100,000
1,200,000
1,000
4 g
Balance for yea r__________________ sur$500,671 sur$104,517 def $1,533
O F F IC E R S .— Pres. J. F . H anson, M acon, G a.— (V . 85, p . 159.)
C EN TRAL IN D IA N A R Y .— Muncie to Brazil, In d ., 127 m ., o f which 10
Jf". trackage. V . 76, p. 653. Controlled by Cleve. Clncin. Chic. & St. L. and
Penn. R R . Interests. Bonds guaranteed b y Cleve. Cln. Chic. & St. L ., are
lim ited to $20,000 per mile; outstanding, $1,500,000. (V . 77, p. 517, 2279;
V . 78, p. 1906, 1961.) Stock authorized, $120,000. Calendar year 1906,
gross, $161,788; def. under oper. ex p ., $33,970. In 1905, gross, $167,518.
P res.. Joseph R obin son .— (V . 77, p. 2279; V . 78, p. 1906,1961.)
CEN TRAL NEW ENG LAN D R Y .— Owns from Campbell Hall, crossing
the Hudson R iver at Poughkeepsie b y Its own bridge, to Sllvernalls, 58 m .,
and leases and controls Hartford & Conn. Western f i R ., Hartford to Rhluecliff, 109 m .; Poughkeepsie to Boston C om ers, 40 m. (acquired June 1907);
Taviffville, Conn., to Springfield, Mass., 18 m .; Poughkeepsie to H opewell
J e t., 12 m .; Dutchess J et., N . Y ., to M lllerton, N . Y ., 59 m .; total, 296 m.
V . 72, p 1273; V . 73, p. 337; V . 76, p. 435; V . 84, p. 1427.
O R G A N IZ A T IO N .— In June 1907 the Newburg Dutchess & C onn.,
Dutchess C ounty R R , Poughkeepsie Bridge R R . and Poughkeepsie &
Eastern were merged. V . 84, p. 1550. In Feb. 1904 the New York New
H aven & H artford R R . acquired $2,963,300 com m on and $2,696,100 pre
ferred stock and $5,904,000 of the $7,250,000 Income bonds; V . 78, p. 701,
768. In Feb.* 1907 a com m ittee (with Empire Trust C o., N. Y ., as deposi
tary) requested deposits o f general m ortgage bonds and stock not owned
b y New Haven road, the same to be returned If not sold b y A ug. 14 1908.
V . 84, p. 449, 693, 1550. Owns $1,390,000 Hartford & C onn. W estern stk.
In June 1907 steps were being taken to merge the road with the New Y ork
N . H . & H artford, the latter, it is stated, offering to exchange the issue for
its own 4 % fixed interest bonds, having the same security. V . 84, p. 1487;
V . 85, p. 159.
S T O C K .— The stock Is to be held In voting trust for ten years, or until 4 %
Interest is paid on general m ort. for tw o years. V oting trustees, J. P. M or
gan, W m . Rockefeller. Charles F. C hoate, Charles F. Brooker and Charles
Lanier. Com m on, $4,750,000; pref., 4 % , $3,750,000; par, $100.
E A R N IN G S .— 12 m os.ending June 30 (256 miles, against 199 in 1904-05):
12 M o s .—
Gross.
Net.
Oth. In c.
Chges.
Balance.
1905-06 .....................$1,670,284 $161,744 $62,477 $216,698 sur$7,522
1904-05 ....................
973,422
19,787
88,525
194,804 def86,491
O F F IC E R S .— C. S. Mellen o f N ew H aven, Pres.; A . S. M ay, T reas., and
J . G. Parker, Sec.— (V . 84, p. 1427, 1487, 1550; V . 85, p. 159.)
C EN TR AL PACIFIC R Y .— (See M a p of Southern P a cific.)
M iles.
Lines owned—
M iles
Um bria to C ecil______ . . . . . . __103
San Francisco, C al., to near
31
O gden, U ta h ________________ 871 Branches to San Jose, & c_____
Trackage—
L ath rop, C al., to Goshen, C a l .. 146
Roseville J u nction, C al., to
Into O gden, & c________________
11
Oregon State L in e___________ 296
T o t a l........................................... 1.458
O R G A N IZ A T IO N .— Incorporated in U tah in July 1899 as successor o f
the railroad under the plan o f readjustm ent In V . 68 p. 378, b y which the
Southern Pacific acquired the entire capital stock and guaranteed the prin
cipal and Interest o f the new bond Issues.
S T O C K .— (1) Common stock, $67,275,500, all held b y So. P a c. Co.
(£) Preferred stock, 4 % cum ulative, authorized issue $20,000,000, to be
delivered to So. P ac. Co. In consideration o f Issue o f equal am ount o f So.
P a c. Co. 4 % collat. trust gold bonds; o f which delivered on com pletion of
readjustm ent, $12,600,000; reserved to be delivered only to provide addi
tional funds, If required, for the paym ent o f 3 % notes to the United States,
and thereafter only for betterm ents and additions, $3,000,000; reserved
to be delivered for Im provem ents and additions at not over $200,000
yearly, $5,000,000; outstanding, $13,200,000.
B O N D S .— First refunding M . gold 4s, $100,000,000, secured b y all the
railroads, terminals and eouipm ent now ow ned, including about 1,349
miles o f first track, &c. O f the authorized Issue, $11,763,000 is held by
the United States as collateral for 3 % notes and $8,821,900 were In June
1907 held In the treasury. See abstract, V . 69, p. 808, and V . 70, p. 739
V . 78, p. 228.
Thirty-year gold 3 \is, $23,2000,000, secured b y a second lien upon all the
properties covered b y the 1st ref. m ortgage, and also b y deposit with the
Trustees, as acquired, o f all securities and m oneys held In any sinking fund
o f the Central Pacific R y ., consisting July 1 1906 o f $8,755,720 in securi
ties and $360 cash, and b y a trust deed upon all the lands covered b y the
m ortgage dated O ct. 1 1870. See Mortgage A bstract, V . 69, p. 858; also
see p. 851. From the proceeds o f these sinking funds and land sales can
cellation o f bonds will be m ade from tim e to tim e; In F e b .1900 £2,505,000
Z H s were canceled and to June 1907 $3,760,000 additional had been can
celed, reducing those outstanding to $16,743,500. V . 70, p. 739, 1194.
Twenty three-per-cent notes, aggregating $58,812,714, Issued to the G ov
ernment in settlement o f subsidy debt; $44,109,535 paid , leaving $11,762,543 to m ature, $2,940,635 half-yearly hereafter to F eb. 1909. First re
funding 4s are deposited to retire them .
T o June 1907 $9,199,000 fifty-year 4 % guar, bonds on the Lucin cu t-off,
Ogden to Lucin, U tah, 102 m ., form ing part o f $10,000,000 authorized,
was sold. T hey are redeem able at 107 H on O ct. 1 1909 or any Interest
d ay thereafter. V . 79, p. 1641. Form o f gu aran ty, V . 80, p. 162.
L A N D G R A N T .— T otal land grant was about 12,000,000 acres, o f which
about 7,714,060 acres remained unsold on June 30 1906. Sales In 1905-06,
11,997 acres; cancellations, 4,007 acres. Land contracts July 1 1906—
principal, $274,265; average price per acre, $1 55.
R E P O R T — In 1905-06, gross, $26,827,020; net, $10,701,682; other In
com e, $716,200; in t., taxes, sinking funds, & c., $6,378,540; b a l., sur.,
$5,039,342.— (V . 80, p. 162, 471, 649, 871; V . 81, p. 1174.)
$555,000
4,000,000
7,000,000
4,000,000
4,880,000
127,948
1,005,000
867,000
1,835,000
760,000
Rate
%
1,000
1,000,000
1890
579,000
•03-’ 04 ................
None,Tun’ 07
100
1,022,900
5,191,100
100
436,400
100
358,000
1,000
1900
1,000
1,500,000
1903
1,250,000
1,000
1899
1899
1,000
7,250,000
350,000 4Ji
1,000
1890
_
Years ending June 30—
1906.
Interest on funded d e b t______________$1,672,580
R entals and m iscellaneous___________
512,280
D ividend on 1st I n co m e s ____________ (5)200,000
D ividend on 2d incom es______________ (5)350,000
D ividend on 3d incom es______________ (5) 200,000
Where Payable, and by
Whom.
Bonds— P rinci
pal, When Due.
Stocks— Last
Dividend.
Guaranty Trust Co, N Y
Guar Tr Co, N Y or Sav
do
do
do
do
Guaranty Trust Co, N Y
do
do
Blair & C o, N Y
do
do
Kountze Bros, N Y
do
do
Sep ’07-Sep ’ 25
N ov 1 1945
N ov 1 1945
N ov 1 1945
May 1 1937
T o Sep 1910
T o Jan 1912
T o Feb 1916
T o July 1916
T o Mch 1 1917
IN T E R E S T OR D IV ID E N D S .
Miles Date
of
of
Road. Bonds.
Guaranty Trust Co, N Y July 1 1920
Blair & C o. N Y
T o July 1911
1907-1916
Savannah, Ga
July 1907 2M %
Savannah and Macon
July 1907 2 H %
Savannah, Ga.
July 1 1907 2M
Citizens’ B k .S a v a n ’ h, Ga July 1 1930
Central Trust Co, N Y
May 1 1953
Fid I T & S D Co, Phlla Feb 1 1919
Yearly If earned
Feb 1 1949
Fid I T & S D Co, Phila June 1 1940
F & A 120 B roadw ay, N Y
do
do
J & D
A & O New Y ork
Q— F
& N
& J
Q— J
Various
Various
M & S
M
J
A ug 1 1949
Aug 1 1929
Oct 1 1954
Auer ’07-Feb ’ 09
Office 143 Liberty S t, N Y Aug 1 1907 2 %
L iberty Nat Bank, N Y May 1 1908
July 1 1987
do
do
July 1 1987
do
do
1908 to 1912
do
do
T o April 1913
do
do
T o March 1915
do
do
June 1 1910
do
do
Q— M
4H
N ov 1 1912
5
do
do
M & N
b Includ es *1,167 ,000 In treasury July 19 06.
C EN TR AL R R . OF NEW JE R S E Y .— (See M a p Reading System.) —
Operates from Jersey C ity, opposite New Y ork C ity, westerly to W ilkesbarre and Scranton, P a ., and the neighboring anthracite coal fields; also
southerly to the seashore resorts o f New Jersey, & c.:
M iles.
Lines owned in fee—
M iles.
Jersey C ity to P hllllpsburg______ 72 N esquehonlng V a lle y * ___________ 17
Sundry branches________________ 84 Lehigh & Susquehanna, Phllllpsburg to Union J et., & c________171
Entire stock owned—
New Y ork & Long Branch R R .,
W llkesbarre & S cranton*________ 5
Perth A m b oy to B ay H e a d ____38 Other lines______________________ _ 8
Trackage—
New Jersey Southern R R ., L ong
Un,lon Coal R R __________________ 10
Branch to A tsion, & c__________ 76
Other lines (no d e b t)____________ 147 A llentow n Term . (oper. jo in tly ). . 3
Leased ( mostly for 999 years) —
Other trackage__________________
6
Ogden Mine R R * ________________ 10
T otal operated July 1906-------- 648
*See this com p any.
There are 263 miles o f second and 30 miles o f four tracks. In July 1905
New Jersey T erm inal R y ., 7 miles, was acquired. V . 81, p. 506.
H IS T O R Y .— Chartered in 1849. From May 1883 to Jan. 1 1887 leased
to Philadelphia & R eading. R eceivers were In possession from Jan. 1 1887
till January 1888. Reorganized in 1887 w ithout foreclosure— see plan V .
44, p. 7.14, 716. Concerning coal properties, see Lehigh & W llkesbarre In
" S u p p .” o f Jan. 1903 (p. 159), and Lehigh Coal & N av. In “ M iscellaneous.'
In Jan. 1901 Reading Co . acquired $14,500,000 o f the stock. V . 72, p . 86,
136, 241, 391, 721. On June 30 1906 ow ned $1,600,000 Lehigh V alley
R R . stock. V . 81, p . 971.
D I V .— V 91- ’ 92 to ’ 94. ’ 95. 96. ’ 97. ’ 98. ’ 99. ’ 00. ’01. 1 9 0 2 to A u g ’ 07.
P . O.J6J4 7 yearly. 5 ^ 5 4 ^ 4
4
5
5
8 yearly (Q .-F .)
B O N D S .— For general mort. abstract see V . 45, p. 402.
T he L. & W . coal m ortgage Is for $15,000,000; the b ond s, form erly 7s, o j
which $12,175,000 have been Issued, were in 1900 extended at 4 )4 % and
guaranteed principal and Interest. See guaranty, V . 71, p. 26.
Jointly and severally with the Lehigh Coal & N av. Co. guarantees $1,062,000 Lehleh & H ud. R iv . R y . Gen. 5s, prin. and int. See V . 67, p . 788.
E A R N IN G S .— F or 11 m onths ending May 31:
11 months—
Gross.
N et.
Charges.
B al., sur.
$11,329,852
$7,340,649
$3,989,203
1906-07 ________$24,249,172
10,195,639
6,611,793
3,583,846
1905-06 ............ 21,883,710
Charges In 1906-07 include $1,150,082 for additions and im provem ents,
against $1,470,258 the previous year.
A N N U A L R E P O R T .— The report for 1905-06 was in V . 83, p. 683.
Earnings from —
1906.
1905.
1904.
M e rch a n d ise............................... .............$8,671,217 $7,471,038 $6,990,722
Coal ..............................- .......................... 7,462,065
7,885,388
7,741,409
Passengers ........................... ...................
3,920,552
3.441,202
3,280,877
Express and m a l l ____________________
372,603
353,451
336,287
M iscella n eou s_______________________
96,594
108,037
102,657
T otal gross earnings rail lines______ $20,523,031 $19,259,117 $18,421,952
Net earnings ............................................ $9,865,855 $9,282,626 $8,576,373
Other incom e_________________________ 1,606,565
1,566,345
1,497,265
T otal net Incom e.................................. $11,472,420 $10,848,971 $10,073,638
Interest on d eb t.................................... - $2,869,626 $2,830,200 $2,866,490
Rentals paid ........................................
2,386,380
2,528,305
2,406,994
T a x e s ..........................................................
556,710
458,041
473,951
Renewal funds, & c..................................
3,373,799
2,697,702
1,665,146
D iv id e n d s ...................................... ........ (8)2,194,424 (8)2,193,704 (8)2,193,464
Balance, su rp lu s___________________
$91,481
$141,016
$467,594
— (V . 79, p. 1641, 2642; V . 81, p . 506, 971, 1241, 1847; V . 83. p. 685.)
CEN TR AL R R . OF PE N N S Y L V A N IA .— Owns B ellefonte (Penn. R R .)
to Mill H all, P a .(P en n . D iv. o f N .Y .C .& H. R . R R . ) , 27 miles; branch. 5 m .
Current liabilities June 30 1906, $752,734. For year 1905-06, gross, $101,250; net, $36,293; ch gs., $47,737; d e f., $11,444, S tk ., $1,200,000; p a r, $50.
C EN TR AL R R . OF SOUTH C A R O L IN A .— Owns from Lane. S. C ., to
Sum ter, S. C., 40.2 miles, spurs, & c., 1.61 m .; tota l. 41.81 m. Leased to
A tlantic Coast Line R R .; rental, $31,000 yearly and taxes. S tock ,
$170,000, par $50. In 1905-06 rental $31,000; gen. e x p ., $285; Int., $18,000; divs. ( 8 % ) , $13,600; b a l., d e f., $885.— (V . 64, p. 887.)
C EN TRAL R Y OF SOUTH C A R O L IN A — V . 8 2 , p. 927.
CEN TR AL VERMONT R Y .— Operates from R ouse’s P oint, at north end
o f Lake Champlain, to New L ond on , C onn., with branches 536 miles in all,
o f which 196 miles leased, v iz.: New L ondon & N orthern (see that c o .) ,
157 miles; M ontville Branch, 3; W est R iver R R ., 36 m.
O R G A N IZ A T IO N .— Succeeded May 1 1899, per amended plan In V . 67,
p . 735, the Central V erm ont Railroad, foreclosed. V . 68, p. 1076.
S E C U R IT IE S , & c.— The Grand Trunk R y . holds $2,185,100 o f the $3,000,000 stock , and under a traffic con tract will m ake good any deficiency
in earnings to m eet interest on the new firsts up to 30 % o f Grand Trunk
gross receipts from traffic interchanged.
R E P O R T .— For year ending June 30 1905, In V . 81, p. 1488:
Year—
Gross.
Net.
Oth. income.
Charges.
B a l., sur.
1905-06 . . $3,836,976
$686,628
$13,840
$695,952
$4,516
1904-05
3,557,776
666,279
10,840
673,449
3,670
Officers.— Pres.. Charles M. H ays; Clerk and T reas., W . H. Chaffee, St
A lbans, V t.— (V . 81, p. 1488; V . 83, p. 751, 969, 1227; V . 84, p. 930.)
CH ARLESTON T E R M IN A L CO.— R O A D .— Owns term inal road In
Charleston, S. C ., 3 miles; double track laid with 60-lb. steel.
Com pany also owns 14 wharves, 30 warehouses, about 30 acres o f la d.
4 co tto n com presses, & c.. on the c it y ’s water fron t, these being conne
by its own road wfth the other railroads entering the city . A reorganlza
o f the East Shore Term inal C o .’s R R ., foreclosed July 14 1903; V . 77, p.
298. S tock , $200,000, ow ned Jointly b y A tlantic Coast Line R R .
Southern R y ., which agree to m ake good any deficiency in Interest on b
29 i
RAILWAY STOCKS AND BONDS.
J u l y . 1907. j
30
[ V^OL. l x x x y .
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
Central R R of N J (Concluded)
A m D ock & Im p Co 1st M guar redeem able at llO .c *
N Y & L ong Branch gen M gold ($192,000 5s) ..C e
Lehigh & H ud R iv gen M gold guar J oin tly ..C e.c*
Central RR of Pennsylvania— 1st M $1,200,000 . . FP
Central RR of South Carolina— First m ortgage gold c
Cent Ry of S Car— 1st M $150,000 g gu r e d _____ CP
Central & Southeastern— First M $2,250,000 g o ld ____
Central V erm ont— Stock $3,000.000_________________
First M $12,000,000 gold traffic gu aran teed-A B .c& r
Car trusts $15,000 or $16,000 due quarterly______
Car trusts $20,000 due yearly (V . 83, p. 7 5 1 )______
Montreal & Province Line R y 1st M guar p & 1____c
Charleston & Savannah— See A tlantic Coast Line R R .
Charleston Terminal— 1st M $1,000,000 gold _.S .c*& r
Charleston Un Sta.— 1st M $400,000 g gu(text) Eqc*&r
Chari & W est Car— 1st M geld ($8,000 p m) __Ce.c*&r
Incom e M gold non-cum ($7,000 per m ile )____Q.c*
Augusta Terminal R y 1st M gold guar p & 1 e n d . .Ce
Charlotte Monroe & Columbia— 1st M $70,000 g o l d ..
Charlotte Columbia & Augusta— See Southern R y .
Chartiers— First mortgage $625,000 g o ld ___________ c*
Chat & Lake Placid— Sar & L Placid 1st M gold Ce.c*
Chattahoochee Valley— 1st m ortgage ______________
Con mortgage $110,000_________________
____ AB
Chattanooga Stat— 1st M $1,000,000 g gu (text)T a c &r
Chesapeake Beach— First mortgage $1,000,000 g .N .c*
Chesapeake & Ohio— Stock (transfer agt J P M & Co)
M ortgage 6s gold Series A ______ _____________Ce.c*
do
do Series B .................................. -Ce.c*
First m ortgage of 1911 Peninsular Extension gold .c*
Terminal 1st M 1922 covering 8 miles to Phoebus g.c*
First consol mortgage for $30,000,000 gold.C e.c*& r
R ichm ond & All D iv 1st cons M gold (see text) -Ce.c*
Second cons M R ich via Lynchb to Clifton F.._Ce
Craig Valley Branch first m ortgage g o l d .. ..C e .c*
W arm Springs Branch first mortgage g o ld ...C e .c *
General mortgage (for $70,000,000 dec) g o ld ..C e .c *
c Guaranteed join tly with Lehigh Coal & Navlga
M iles Date Size, or
Am ount
P ar
of
of
Road. Bonds. Value. Outstanding
_
"40
7
...
1881
1891
1890
1893
1881
1906
1906
A lf
___
m
40.6
1899
1905
1906
1900
$1,000 $4,987,000
5
1,000
1,891,000 4 & 5 g
1,000 C 1,062,000
5 g
500 &c
600,000
6
1,000
300,000
6 g
500
150,000
6 g
100 &c See text.
5 g
3,000,000 $2,185.1
100
1,000 &e 10.654.500
4 g
1,000
481,000 4)4
180,000 4M
100' &c
200,000
4 g
...
1903
1907
1896
1896
1897
1902
1,000 &c
1,000 &c
1,000
1,000
1,000
1,000
1901
1893
1896
1900
1907
1898
..
1878
1881
1881
1882
1889
1890
1890
1890
1890
1892
1,000
1,000
38
...
340
...
___
22
23
10
10
16 M
'3 4
_
1 494
^ 424
J
74
10
697
241
241
26
25
1,153
tlon C 0
800,000
250,000
2,720,000
2,380,000
600,000
70,000
4
4
5
5
6
5
g
g
g
g
g
625,000
3H g
120,000 5 (6) g
50,000
6
5
1,000
60,000
1,000 &c
850,000
4 g
1,000
1,000,000
5 g
100 62,799,100 1 In 1906
1,000
2,000,000
6 g
13,354
1,000
6 g
1,000
2,000,000
6 g
500 &c
142,000
6 g
1,000 25,858,000
5 g
1,000
6,000,000
4 g
1,000
1,000,000
4 g
1,000
650,000
5 g
1,000
400,000
5 g
1,000 43,573,000
4H g
P res., W m . E. Huger; Treas., R. D. Lankford; S ec., Henry Fraser.
E A R N IN G S .— Gross, year ending June 30 1905, $181,493; net, $84,689;
total deductions, $41,273; bal., sur.. $43,416.— (V . 77 p. 146.)
CHARLESTON UNION STATIO NCO.— Owns passenger station at Charles
to n , S. C ., used by A tlantic Coast Line and Southern R y ., which each own
one-half the stock and guarantee the bonds, p. & 1., b y end. V . 84, p. 50.
CHARLESTON & WESTERN CAROLIN A R Y .— P ort R oya l, S. C ., via
Augusta. G a., to Spartanburg, S. C., 245 m .; branches to A nderson and
Greenville, S. C ., 96 m .: leased, 2 m .; total, 341 m . A consolidation Oct. 3
1896 after foreclosure sale. Entire stock and portion o f incom e bonds were
acquired by A tlantic Coast Line in Dec. 1897. V . 66, p. 38, 335. Dlv. on
Incomes, 2% for 1903-04; 3% for 1904-05.
S T O C K .— $1,200,000; par, $100. See Augusta Term . R y . V . 66, p. 383.
E A R N IN G S .— For year ending June 30 1906, gross, $1,513,159; net,
$282,656; other Incom e. $21,291: Int. on bonds, $172,0*i0; surplus, $131,947.
P res., J. B. Cleveland; Sec., R . D. Cronly, Petersburg, V a.— (V . 73, p. 1207.)
CHARLOTTE MONROE & COLUMBIA R R .— M cBee, S. C ., on Seaboard
Air Line, to Jefferson, 22 m. Stock , $48",000. The R ichm ond Trust & Safe
Deposit Co Is m ortgage trustee. V . 75, p. 1030. For year ending June 30
1 9 0 6 ,gross,$28,608; net, $16,071. Pres.. Ernest W illiam s.— (V . 75, p .1030.)
CH A RTIERS R Y .— Owns from Carnegie. P a ., to W ashington, P a ., 23 m .
Stockholders will vote Sept. 3 1907 on acquiring W estern W ashington and
M eadow Lands & Zedlker R R ., together, 8 % miles; V . 85, p. 159.
Leased till 1971 to Pitts. Cin. Chic. & St. Louis; rent 1, net earnings.
Capital stock, $645,300 (par $50), Pennsylvania Co. owned $333,850.
In Feb. 1907 the Pitts. Cin. Chic. & St. L. offered to exchange 3 shares o f
com m on stock ($300) for one share (S50) o f Chartlers stock. V . 8 4 , o . 390.
D ividends, A . & O ., since 1905, 1 0 % .— (V . 84, p. 390; V. 85, p. 159.)
CH ATEAU OAY ft LAKE P LA CID RY .— (See M ap Del. & Hudson.) —
Operates from Plattsburg, N . Y ., to Lake Placid, 80 miles, o f which Plattsburg to Dannemora, 16 miles, Is leased from State o f New York for $1 and
free transportation o f freight to the S tate’s Prison at Dannemora.
S tock, $3,450,000, o f which $3,000,000 is 4 % pref., the latter all owned
b y D. & H. V. 84, p. 50. Leased to the Delaware & Hudson until Dec.
31 2403, any balance over expenses o f operation, Interest, taxes, m ainte
nance, dam ages, dividend on pref. stock , & c., to go to the lessor. The lease
Is subject to revision at 5-year Intervals after Jan. 1 1908 on request o f
either party. V .8 1, p .613. There are also $24,000 Saranac & Lake Placid
2d 5s due N ov. 1 1913.— (V . 81, p. 613; V. 84. p. 50, 930.)
CHATTAHOOCHEE & OULF R R.— Colum bia, A la ., to Floralia, 92 m .
L E A S E .— Leased in 1900 In perpetuity to Cent, o f Georgia R y . for 6 % on
$436,400 stock and $358,000 bonds, o f which 1 % to be used as a sinking
fund for retirement o f bonds, upon com pletion o f which rental will be 5 % on
stock , payable J.-J. See Cent, of Ga. R y .— (V . 77. p. 2279; V . 81, p .1722.)
CHATTAHOOCHEE V A L L E Y R R .— W est P oint, G a., to Jester, A la .,
16H m . Stock authorized, $1,000,000; outstanding, $110,000; par o f shares,
$100. B onds, see table above. For year ending June 30 1906, gross,
$35,272; net, $14,080; other Incom e, $336; Interest on bonds, $3,000.
CHATTANOOGA SOUTHERN R R .— Owns road, com pleted In June 1891,
from Tennessee State line to Gadsden, A la., 87 m .; R ound Mt. branch, 3 m .;
trackage to Chattanooga, 5 m .; sidings and spurs, 10 m .; total o f all tracks,
105 m. Successor to Chattanooga Southern R y ., sold in foreclosure Feb. 14
1895; plan In V . 61, p. 830. On April 23 1907 W . W . Kent and E. C.
Osborne, 31 Nassau St., N. Y ., were appointed receivers. V . 84, p. 995.
Year ending June 30 1907, gross, $160,452; deficit under operating
expenses, $3,840.— (V. 84, p. 995.)
CHATTANOOGA STATION CO.— Owns union passenger station and a p
proaches at Chattanooga, T enn ., used by the Southern R y ., Cent, o f G a.,
A labam a Gt. Southern and Cin. N. O. & T ex. P a c., which each ow n onefourth o f the stock and guarantee the bonds join tly and severally, principal
and Interest, b y endorsem ent.— (V . 84, p. 50.
CH ESAPEAKE BEACH R Y .— W ashington, D . C . , t o Chesapeake Beach,
M d ., 34 m. In July 1905 David H. Moffat obtained Judgment on a prom is
sory note for $1,222,800. Foreclosure suit begun: Interest alleged in default
since 1901. V . 81, p. 263, 974. Stock, $1,000,000; par, $100. P res.,
W . F. Jones, Denver, Col.; S ec., Paul Y . W aters. O ffice, 1416 New York
A v e ., W ash., D. C.— (V . 81, p. 263, 974.)
CH ESA PEA KE & OHIO R Y .— (See M a p .)— Operates from N ewport
N ews, V a ., and W ashington, D. C ., to Cincinnati, O ., with branches.
Lines owned in fee—
M iles. )
M iles.
Old Point Comfort and N ewport
|Bridge— Covington, K y ., to Clnclnnatl, O h io.................................
2
News, via Charlottesville to
Lines leased—
A shland, K y ................................. 512
Sundry branches leased.................. 25
R ichm ond via Lynchburg to Clif
ton Forge, Va .............................230 Trackage to L ouisville.................... 84
Branches In Va. and W . V a ........... 427 Trackage to W ashington, D . C __ 85
Other trackage................................. 31
Lines controlled by stock, A c .—
Big Sandy R iver to C ovington 150
D en ton . K y ., to Lexlnjpton........... 103
Big Sandy Jet. to Elkhorn City,
T otal system June 30 1 9 0 6 .. .1,827
with branch________________ ..1 2 8
Second track (237 o w n e d )........... 334
Branches In K en tu ck y .................... 50
A lso owns one-sixth interest In the R lchm ond-W ashlngton Co.
H IS T O R Y , & c.— In 1888 reorganized w ithout foreclosure, and the road
extended to Cincinnati. T h « consolidation with the R ichm ond & Allegheny
was consum m ated In Jan. 1890; with E lizabethtow n Lexington & Big S andy,
& c., In 1892, and with Greenbrier and other roads in 1903. The stock
holders voted May 21 1907 to consolidate the C. & O. R y . o f K en tu cky
with the C. & O. R y . o f Virginia and to pledge the property o f the form er
under the general mortgage
V . 84, p. 1181.
C A P IT A L S T O C K .— Conimon stock authorized, “ unlim ited” ; outstand
Ing. $62,790,700; Increased from $40,000,000 to this figure since 1892
through exchange of practically all the $25,000,000 o f preferred stocks for
com m on stock and general m ortgage 4 54 per cents In certain proportions,
and acquisition o f stocks o f other com panies. V . 77 p. 450, 768. Pref
stock, for $8,400 on ly , was outstanding June 1907. V . 54, p. 642. Stock
m ay be reduced b y m ajority vote. V . 70, p. 175.
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
J & J
M & S
J & J
M & N
J & J
J
& J
J
& J
00 held b
Q— F
Q— M
Q— F
A & O
L iberty N at B an k, N Y
do
do
National E xch B k, N Y
Fid I T r & S D Co, Phlla
Cuyler, Morgan & Co, N Y
Colonial Trust Co, Pitts
Lincoln Trust C o, N Y
y Grand Trunk R y o f Can
Blair & C o .N Y ;& Boston
Blair & Co, New Y ork
R oyal Trust Co, Montreal
Amer L & Tr Co, Boston
J
J
A
&
&
&
Oct
A &
A &
J Standard Trust Co, N Y
J New Y ork
o Central Trust Co, N Y
Guar T r, N Y , If earned
o Central Trust Co, N Y
o R ich T & S D C o, R ich .V
A & o
M & N
J
& D
J & J15
J
& J
J
& J
Yearly
A & O
M & N
A & O
J
& D
M & N
J
& J
J
& J
J
& J
M & S
M <Sc s
Bonds— P rinci
pal, When D u e.
Stocks— Last
Dividend.
July
Sept
July
May
July
Jan
Jan
ada.
May
Sept
Aug
Oct
1
1
1
1
1
1
1
1921
1941
1920
1943
1921
1926
1956
1 1920
'07-Mar '15
1908-’ 16
1 1950
July
Jan
Oct
Oct
April
Oct
1
1
1
1
1
1
1953
1937
1946
1946
1947
1932
Co. s Office. P lttsb’ gh Pa Oct 1 1931
32 Nassau Street, N Y
N ov 1 1913
Dec 1 1916
Amer L & Tr Co, Boston July 15 1920
New Y ork
Jan 1 1957
July 1 1923
In default
J P Morgan & Co, N Y
N ov 30 1906 1 %
do
do
July 1 1908
do
do
July 1 1908
Jan 1 1911
do
do
do
do
June 1 1922
May 1 1939
do
do
Jan 1 1989
do
do
Jan 1 1989
do
do
July 1 1940
do
do
March 1 1941
do
do
March 1 1992
do
do
D IV ID E N D S .— 1899 to 1906, b oth inclusive, 1 % yearly N ov. 30.
B O N D S .— A bstract o f consol, m ortgage o f 1939 In V . 49, p. 147; o f R ich
m ond & Allegheny m ortgages, In V . 51, p. 144.
The general mortgage o f 1892 (Central Trust Co. and H. T . W ickham
trustees) is for $70,000,000, but additional amounts at $25,000 per mile m ay
be Issued for double-tracking. O f the $70,000,000 as a bove, $32,691,000
bonds were reserved to provide for the $30,000,000 consols o f 1889, issued
or to be issued, &c.
The balance was issuable for new acquisitions,
rolling stock, & c., but not m ore than $2,000,000 thereof In any one year.
The m ortgage covers the entire property o f the com pany, real and personal,
at the tim e the deed was m ade, and all additional p roperty ana mileage
acquired with the proceeds o f the bonds. See full abstract o f m ortgage In V .
54, p. 644; also V . 54, p. 642; V . 55, p. 335, and V . 83, p. 1523. In Mar.
1907 $43,573,000 had been listed on N. Y . Stock E xchange, o f which $5,050000 were Issued for second-track and $38,523,000 for other purposes, leaving
$31,132,000 reserved to retire underlying bonds, $339,000 available for
im provem ents and $6,000 to retire rem aining unexchanged preferred stock.
V . 83, p. 1469, 1523; V . 84, p. 626.
The stockholders will vote J u ly 31 1907 on authorizing a general equip
m ent and Im provem ent m ortgage to secure not exceeding $10,000,000
10-year 5 % gold bonds, to be dated A ug. 1 1907 and to be subject to call.
It was stated, at 102. In Ju ly 1907 $5,000,000 collateral trust 3-year 6 %
notes dated Ju ly 1 1907 were sold, secured b y $6,500,000 o f the bonds
(denom inations $1,000 each). V . 85, p. 39, 98, 159.
The Louisville &. Jeffersonville Bridge bonds, o f which $3,500,000 are ou t
standing, are guaranteed Jointly and severally b y the Chesapeake & Ohio
and Cleveland Cincinnati Chicago & St. Louis; any deficit on account o f
the bridge Is payable b y them In the proportion o f one-third and two-thirds
respectively— see V . 60, p. 130; V . 61, p . 327, 559; V . 62, p .,84 and separate
statem ent for Louisville & Jeffersonville Bridge Co
O f the Greenbrier R y . 4s o f 1900, guaranteed prin. and Int. and assumed In
1903-04, $1,000,000 are reserved for extensions and Im provem ents. See
guaranty, V . 72, p. 626; see also V . 71, p. 554, 602; V . 79, p. 915. O f the
Big Sandy 4s o f 1904, $1,000,000 Is reserved for extensions. V . 79, p. 917;
V . 82. p. 279. Form of guaranty. V .8 1 , p. 668.
O f the Coal River 4s o f 1905, $1,500,000 has been Issued on the 18 miles
from St. Albans to H olly, W . V a ., and about 50 miles under construction;
the remaining $1,500,000 is reserved for extensions and Im provem ents.
V . 80, p. 2219; V . 83, p. 693.
O f the P aint Creek Branch 4s o f 1905, $225,000 Is reserved for extensions.
V . 81, p . 9 74,910.
Raleigh & Southwestern guar. 4s, V . 84, p. 1114.
The $1,200,000 6 % notes maturing June 28 1907 were extended for one
year. V . 84, p. 1365, 1427.
Car Trust Series 4% Gold (Denomination $1,000 each.)
Date.
Outstanding.
M ature in Installments.
$100,000 yrly.
“ A ” 1901__________ $400,000_______________ A ug. ’0 8-’ 12
“ B ” 1902__________ 1,200,000.......... ...............A ug. ’ 15-’07-’ 12
200,000 yrly.
“ C” 1902__________ 550,000.........................S ep. '0 7 -S e p t.’ 12 50,000 s.a.
" D ” 1903__________ 1,200,000..........................A ug. '0 8 -A u g .’ 13 200,000 yrly.
“ E ” 1903__________ 6 5 0 ,0 0 0 .......................D ec. ’07-D ec. ’ 13 50,000 s.a.
“ F ” 1904................ .. 525,000______________D ec. ’07-D ec. ’ 14 35,000 s.a.
“ G ” 1 9 0 5 ................ 1,440,000.......................... O ct. '07-A pr. ’ 15 90,000 s.a.
" H ” 1906__________ 1,440,000______________ O ct. '07-A pr. ’ 16 80.000 s.a.
“ I ” 1906__________ 900,000______________Dec. '07-June '16 50,000 s.a.
“ J” 1906.................. 1,710,000______________ Feb. ’08-A ug. '16 95,000 s.a.
“ K ” 1906.............. ..1 ,5 2 0 ,0 0 0 .......................... 0 c t . l 5 ’ 0 7 -0 c t .’ 16 80.000 s.a.
“ L ” 1907.................. 2 ,137,000______________ Jan. ’08-Jan. '171225,000 s.a.
“ M ” 1907...................2,138,000.......................... F eb . '08-F eb. '1 7 /
Interest paid semi-annually as indicated b y m aturity date; " A " and
“ B ” at Girard Trust C o., P h lla .;" C ,” “ E ” a n d “ F ” at office o f Blair & C o.,
N . Y .; “ D ,” “ G” and “ H ” at Fidelity Trust C o., P h ila.; “ I , ” " J , ” " L ”
and “ M” at Blair & Co ; ‘ K ” at Guaranty Trust Co.
F IN A N C E S .— Pennsylvania Interests, with M organ-Vanderbilt Interests,
owned a m ajority o f the stock. V . 70, p. 75, 632; V . 72, p. 480. In D ec.
1906 the Pennsylvania sold Its $15,630,000 stock holdings. V . 83, p. 1410.
On Dec. 31 1906 the N. Y . Cent. & Hud. R lv. owned $5,000,000 stock and
on June 30 1905 Clev. Cin. Chic. & St. Louis owned stock representing an
outlay o f $2,453,569, but a considerable part, it is understood, has been
sold. V . 71, p. 398, 505; V . 84, p. 1487.
As to purchase o f one-sixth Interest In m ajority H ocking V alley com m on
stock , see that com p a n y. V . 77, p. 1225; V . 83, p. 37, 693.
The stock interest in C.& O. SS. Co. was sold In 1905-06. See V . 83, p. 693.
E A R N IN G S .— 11 m o s.,11906-07...G r o s s , $23,366,176; n et, $8,236,843
Ju ly 1 to May 31. j 190 5 -0 6...G ro s s , 22,406,431; net, 8,827,408
For 5 m onths ending N ov. 30 1906, net, $3,742,995; charges (net),
$2,556; b a l., sur., $1,176,908.
A N N U A L R E P O R T .— Fiscal year ends June 30. Annual m eeting Is held
at R ichm ond on the Tuesday preceding the last Tuesday In O ctober. R e
port for 1905-06 was given In full in V . 83, p. 682, 691, and showed the
follow ing. See also editorial, d . 658.
1905.
1906.
1904.
Year ending June 30—
1,827.
1,708
1.671
Miles operated ---------------------. $4,242,556
$3,648,233
$3,894,145
19,395,648
14,869,188
16,039,313
964,784
780,105
790,914
Other Incom e.
Interest on bonds, & c______
.$24,602,988
. 15,439,502
$20,724,372
13,534,804
$19,297,526
13.298,040
. $9,163,486
204,353
$7,189,567
177,287
$5,999,486
169,272
. $9,367,839
$7,366,854
. $5,778,951
$5,230,216
1,217,476
.
1,534,406
(1 % ) 627,907 (1 % ) 627,904
$6,168,758
$4,674,245
861,366
$291,259
$5,243
Balance, su rp lu s __________________ . $1,426,576
31
RAILWAY STOCKS AND BONDS.
J u l y , IS 07.1
32
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
Chesapeake & Ohio— (Concluded)
Paint Creek Branch 1st M $750,000 g o ld ____Ce.c*
21 1905
K ineon Coal m ortgage assumed redeem beg Oct 1905
....
Greenb & New R lv R R 1st M g ass'd (V 75, p 562)
18
Greenbrier R y 1st M $3,000,000 gold assum ed.Ta.c*
100 1900
Big Sandy R y first mortgage $5,000,000 g o ld ..C e .c*
85 1904
P otts Creek Branch first M (V 83. p 693) ____ --C e
25 1906
Gen equlp’t and im p ’t M $10,000,000 g o ld _________
1907
Collateral trust note?
_
____________________
1907
Guaranteed Bonds.
E levator Co first m ortgage gold p & 1 g u a r ...C e .c *
. . . 1888
Second mortgage for $500,000 Income n on -cu _.c*
. . . 1888
L o & Jeff Bdg 1st M $5,000,000 guar p & 1 e n d ..c *
. . . 1895
_
N orfolk Term & Trans 1st M (V 67 p 322) guar p & I
1898
Passenger & Belt R y (L ex, K y) 1st M g extend fn’06
4 ____
Coal River first m ortgage $3,000,000 g o ld ______ Ce
67 1905
W estern Pocahontas Corporation 1st M (V 84, p 995)
. . . 1905
do
do
do
E xtn. No. 1
do
do
do
E xtn. N o. 2
I l l 1906
R aleigh & Southw 1st M $1,500,000 g o ld ____ __ Ce
1906
Chesapeake Western— C <Se W R R 1st M g o ld ______ N
27 1896
Chesapeake W estern R y M $1,435,000 g o ld ____B.c*
41 1901
Chesterfield & Lancaster— 1st M $750,000 gO ld -.K .c*
27 1905
Chestnut Hill RR— Stock rental P & R R y _________
4 -----Chicago & Alton R R — C om m on s t o c k _______________
Preferred stock 4 % non -cum ulatlve_____ __________
in
IIII
4 % cum ulative part & prior lien s to c k ......... ..........
Chic & Alton R R (old) ref M gold (see text) _IC.c*& r
889 1899
First lien (old Ry.) M subject to call at par__F.c& r
943 1900
Collat notes $5,000,000, to be paid J u ly 1 ’07-A le.r
. . . 1903
Collat. notes $6,000,000 ___________ __________ 1907
Joint equip notes ($9,500 due seml-ann) (V 76, p 47)
1905
C & A Eq Ass’n cts Ser A , B & C, g gu$98,000 s a . Me
1906
do
do
Ser D, g gu , due $113,000 s a . Me
1877
Miss R lv Br 1st M g ass’ d s f drawn at 1 00 _____ c*
162
Kansas City St Louis & C preferred stock gu ar____
37 . . . .
Joliet & Chicago 7 % stock perpetual guar b y C & A
Louisiana & Missouri guaranteed preferred s t o c k ..
101
•Additional bonds Issued— see text below .
a Gua rantee d Joint
_
__
Size, or
Amount
Par
Value. Outstanding
1.000
500 &c
1,000
1,000
1,000
1,000
” '" i ’.ooo
1,000
1,000
1,000
1,000
1,000
1,000
1 ,000
” " i'.o o o
1,000
500 &c
1,000
1,000
50
100
100
100
1,000 &c
1,000 &c
5,000
1,000
1,000
1,000
1,000
100
100
100
ly and se
C H E SA PEA K E & OHIO R Y . (C oncluded).
O F F IC E R S .— Pres., George W . Stevens, R ich m on d , V a .; V ice-P res.,
Decatur A xtell, R ichm ond, V a.; Treas., C. E. P otts, R ich m on d , V a .: S ec.,
C. E. W ellford, R ichm ond. V a .; Comptroller, L . F. Sullivan. R ichm ond, V a.
Directors— Decatur A xtell, John P. Green, J. B. Thayer, George W .
Stevens, Samuel R ea, H . M cK . T w om b ly, H . T . W ickham , Thomas P .
Fowler and W alter G. Oakm an.— (V. 84, p. 1550; V . 85, p. 39, 98, 159.)
C H E SA PE A K E WESTERN R Y .— Owns North R iver G ap. V a ., to
Bridgewater. 14 m .; leases for 99 years from May 1 1902 Chesapeake &
W estern R R ., Bridgewater to E lkton, 27 m .; tota l, 41 m. Projected to tide
water on Chesapeake Bay, and westerly Into W est Virginia coal fields, o f
which 14 m ., from Bridgewater to North River Gap. Is com pleted. Con
trolled b y Chesapeake Western Co. V . 75, p. 1353; V . 78, p. 2383.
S tock authorized, J50.000.000: outstanding, $1,419,600, o f which $608,400 Is preferred. Ches. & W est. R R . has $533,500 com m on and $32,900
pref. stock outstanding. C. W R y. m ortgage o f 1901. V . 73, p. 899, 1356.
Year ending June 30 1906 (41 m iles), gross, $70,369; net above taxes,
$20,508; no interest Dald on C. W . R y . bonds. Pres., R obert McM.
Gillespie; Treas., W . H. Hall. O ffice. 71 B ’w ay. N. Y .— (V . 78, p. 2383.)
C H ESTE RFIE LD & LANCASTER J IR .— Owns R u b y to Cheraw, S. C.
18 m . Extension of 18 m. toward Lancaster under construction, o f which 14
m . com pleted Dec. 1906. Bonds (limited to $750,000) are issuable at $5,000
p er m ile. V . 81, p. 1790. .Stock, $500,000; par $25. For 11 mos. ending
M ay 31 1907, gross, $51,912; net, $22,659. Year ending June 30 1906,
gross, $37,393; net, $14,650; Interest charge, $6,200. Pres., A . H . Page,
Cheraw, S. C .; S ec., A . G. Page.— (V . 81, p. 1790.)
CHESTNUT H ILL R R .— Owns from Germ antown to Chestnut H ill, P a .,
4 m .; being double-tracked May 1902. Re leased In 1896 to Phlla. & R ed .,
R y ., the rental being reduced from 12 % to 6 % on stock, the latter being
Increased In June 1902 from $120,650 to $195.650.— (V . 75, p. 76.)
CHICAQO & ALTON R R .— (.See M a p .)— R O A D — Chicago to St. Louis,
Kansas C ity. <fcc.. In all 970 miles, o f which about 210 double tracked.
Road owned—
M iles. I Road owned—
M iles.
Chicago to East St. Louis, 111____280 R oodhouse, 111., to Kansas C ity,
Springfield, 111., to G rove, 111____ 5 4 1 M o ______________________________251
Eldred to B arnett________________ 48 j B loom ington to W an n, via JackOoal Olty Line, I n d _____________ 25 | sonvllle G odfrey & Upper A lton
D w ight, 111., to W ashington and
I (all In 111)______________________ 158
L a con , III______________________8 0 {Trackage to Peoria, 111., & c________24
M exico, M o., to Cedar C ity, M o .. 50|
----T otal o f all owned and operated In s y s t e m ____________________________ 970
C ut-off between M exico. M o., and Old Monroe. 65 m ., built b y Chic. Burl.
& Q uincy, opened Sept. 1904, Is operated join tly . C ut-off from Springfield
to Murraysvllle, 111., 34 miles, Is to open about Aug. 1 1907. The stock of
the Peoria Terminal R y . is owned b y the Chicago & A lton and Chic. R . I. &
P ac. R y ., which guarantee the first m ortgage bonds ($1,500,000 authorized
issue). V . 81, p. 1099; V . 83, p. 752, 1171, 1291; V . 84, p. 451; V . 85,
p. 159.
O R G A N IZ A T IO N .— The (old) railway com pany was organized in April
1900 and purchased substantially all the stock o f the Chic. & A lton Railroad.
T he tw o com panies were consolidated in Mch. 1*06 per plan V . 82, p. 451,
the Railway Issuing Its cum ulative 4 % participating ana prior Hen stock In
exchange for the outstanding stocks o f the R ailroad, the Railway com pany
changing Its nanae to the C. & A. Railroad as abov e. V . 82, p. 160. See V .
70. p. 686. 995.
S T O C K .— The cum ulative 4 % participating and prior Hen stock is entl
tied In addition to prior right to accum ulative dividends at the rate of 4 %
par annum , to receive additional dlvtdends equal to the rate o f dividends. If
declared on the com m on stock o f the consolidated com p any. The Chic.
R . I. & P ac. R y . in 1904 acquired $14,320,000 com m on and $4,870,000
preferred stock and the Union Pac. $10,343,100 pref. stock. The R ock
Island Interests have con trol, the agreem ent for alternate m anagem ent
having been abrogated In June 1907. V . 84, p. 1488. See V . 80, p. 471,
and V . 78, p. 47, 342; V . 79, p. 151, 1331, 1461, 2204; V . 81, p. 1664;
V . 83. p 686: V . 84, p. 1488.
D IV ID E N D S .— On pref. o f old c o ., Jan. 1901 to Jan. 1906, in cl., 4 %
yearly (J. & J .) . Semi-annual dividends on pref. and participating
and prior lien stocks, 2 % each, paid July 1906 to Ju ly 1907, lncl.
BON DS. —The first lien (old R y.) 3 i^s of 1900 are secured by a direct flr*t
lien on Spring5eld to Grove, 54 m ., and a Hen on the remaining property
owned subject to the m ortgage securing the refunding 3s o f 1899 and certain
obligations and liens existing at the consolidation In 1906. V. 70, p. 894,
944. See application to list In full In V . 71, p. 1021, and plan, V . 82, p. 451.
T he Railroad (old) m ortgage securing the 3 per cents o f 1899 will provide
funds for Im provem ents and extensions. Bonds In excess o f $40,000,000
m ay be Issued thereunder on vote o f two-thirds o f the stockholders for ex
tensions o f not over 500 miles main track, at not exceeding $20,000 per mile,
to fund leased line rental obligations and for future betterm ents not to ex
ceed $5,000,000 at not over $1,000,000 per annum from Jan. 1 1900. S**
circular V . 69, p. 178; also V . 69, p. 26, 129, 541; V . 70, p. 429, 739, 995;
V . 84. p. 480. 507, 626, 803, 809.
Stockholders o f Railroad (old> Co. voted on Sept. 7 1904 to authorize the
Issue o f refunding bonds In excess o f the $40,000,000 then sold and pledged,
▼lz., $5,000,000 for betterm ents and $350,000 for purchase o f Quincy Car
rollton & St. Louis R y. V . 79, p. 211, 967.
There are 5101,418 5 % Pullman Co. equipm ent notes due May 15 1910.
The $6,000,000 5% collateral notes sold Jan. 1907 are secured by
deposit o f $8,000,000 refunding 3s; o f the Issue, $5,250,000 wasreserved to
retire the $5 000,000 notes due July 1907. V. 84, p. 157; V. 77, p. 1746.
G E N E R A L F IN A N C E S .— Expenditures for Im provem ents and equip
m ent for 3 years ending July 1903 were $12,943,329. V . 77. p. 1226.
In June 1907 the Union Pacific and R ock Island Interests agreed to ad
vance the am ount o f capital requirements (about $1,600,000) during 12 or
18 m onths. See V . 84, p. 1550.
L A T E S T E A R N IN G S .— j 1 906-07.Gross, $11,742,326; net, $4,030,128
11 m os., J u ly 1 to May 31 .\ 1905-06-G ross, 10,674,537; net, 3,112,175
A N N U A L R E P O R T .— For year ending June 30 1907 (May and June
estim ated), excluding $240,000 Interest on treasury bonds, net Income,
*4,672,981, against $3,786,336; firsti charges,i.$2,978,555, against $2,776,-
525,000
200,000
339,000
1,980,000
4.771,000
600,^00
See text
5,000,000
820,000
450,500
a3,500,000
500,000
150,000
1,500,000
750.000
114.000
51,000
250,000
666,000
1,419,000
124,000
195,650
19,542,800
19,544,000
899,300
*37,350,000
22,000,000
5,000,000
e . ooo ,000
95,000
2,694 000
2,034,000
2 0 6 .0 0 ’
1,750,000
1,500,000
329,000
verally wit
[Y o l . l x x x y .
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
g
g
g
g
g
g
g
F
A
F
M
J
J
& A J P Morgan & Co, N Y
ft O Cent Tr & S D ep , Cln, O
& A J P Morgan & C o, N Y
& N
do
do
& D
do
do
& J
J
&
4 g
4
4 g
5
5 g
4 g
4M
A
4
5
5
4
4
4
5
6
Bonds— P rin ci
pal, When D m
Stocks— Last
Dividend.
Where Payable, and by
Whom
Feb
Oct
Aug
N ov
June
July
1 1945
1 1915
1 1942
1 1940
1 1944
1 1946
1917
July 1 1910
J New York
& O J P Morgan & Co, N Y
Oct 1
do
do
M & s J P Morgan & Co, N Y
F & A
do
do
J & J J P M organ & Co, N Y
J & D
do
do
F & A
do
do
Oct 1 1938
Oct 1 1988
March 1 1945
Feb 1 1948
Jan 1 1908
June 1 1945
Aug 1 1945
J P Morgan & Co, N Y
N ew York
New York Trust Co, N Y
See text
K nickerbocker Tr C o,N Y
Treasurer’s Office, Phlla
J u iy~ i~ i9 3 6
AUg 1 1945
Oct 1 1951
Aug 1 1955
June 4 1907 1 H
4 in 1907 J & J 115 B roadw ay, New York
4 in 1907 J & J
do
do
A & O
do
do
3 g
do
do
gJ & J
do
do
J &
4 g
J
&
J
do
do
5
4
J 16 & Di Equitable Trust Co, N Y
4&5 g
Various
do
do
J & D
do
do
4 g
6 g
A & O
N Y , 115 B roadw ay
6
Q— F
do
do
do
do
Q— J
7
7
F & A
do
do
h Clevelj and Cinci nnati Chicago & St L o
July 1 1907 2 %
July 1 1907 2 %
Oct 1 1949
July 1 1950
July 1 1907
Jan. 1 1912
T o June 15 1912
T o Nov 1915
D ec ’07-.T’ne ’ 16
O ct 1 1912
A ug 1 1907 1 H
July 1907 1 J*
A ug 1 1907
uls.
4
5
4
5
6
g
g
g
g
A
J
F
A
F
&
&
&
&
&
Q— M
O
J
A
O
A
356; dividends, $817,732; b a l., sur., $876,694, against $194,974. R eport
for the year ending June 30 1906, Including the operations o f the C. & A .
R R ., the C. & A . R y . down to the date o f consolidation Mch. 14 1906 and
o f the consolidated co. subsequent to Mch. 14 1906, was in V 83, p. 813.
Year ending June 30.—
1906.
1905.
1904.
Miles ........................... ..........................
970
915
915
Gross earnings.............. ........................$11,586,094 $11,797,314 $11,425,853
7.818,903
7,602,663
7,524,600
Operating expenses________________
Net earnings____________________ $3,767,191
Net Incom e_________________________$4,026,337
Deduct—
T a x e s _____________________________
$354,180
Interest on bonds, & c______________ 2,412,834
Dividend on guaranteed stock s____
241,024
Dividends on stocks of old com panles held by p u b lic___________
406,140
Dividend on prior Hen stock J u ly ’06
17,986
Dividend on pref. stock July 1 9 0 6 ..
390,880
Miscellaneous expenses____________
8,318
$4,194,651
$3,901,253
No com parison
possible, owing
to consolidation
In March 1906.
Balance, su rp lu s________________
$194,974
O F F IC E R S .— Chairman o f executive com m ittee, B. F. Y oaku m : Pres..
S. M. F elton, Chicago; C om ptroller, C. W . H illard. N. Y .; Treas. and A sst.
S ec., H. E . R . W ood , Chicago; Sec. and Asst. Treas., Geo. T . Boggs, 115
Broadw ay, N. Y .; Gen. M gr., C. A. G oodnow , C hicago.
Directors.— James Stillm an, E. H . Harriman, B. F. Y oaku m , W . H .
Moore, D. G. R eid, New Y ork; R obert Mather, James H. M oore, S. M.
F elton, J. M itchell, N . B. R eam , C hicago.— (V . 85, p. 159.)
CHICAQO BURLINGTON & QUINCY R R .— (See M a p .)— R O A D — O p er
ates a great system o f roads extending from Chicago westerly, reaching St.
Paul and Minneapolis, Minn., St. Louis and Kansas City, M o., Om aha, N e b .,
Denver, C ol., Cheyenne, W y o .. Black Hills, S. D ., and Billings, M ont. T h «
accom panying map shows clearly the system viz.:
M iles. |
M iles.
Lines east o f Missouri R iv e r___4 ,3 6 5 1Lines leased____________________ 2 0 }
Lines west of Missouri R iv e r___4 ,0 4 0 1Narrow-gauge lines_____________
68
T otal operated June 30 1906________________________________________ 8,677
In N ov. 1905 an extension was proposed from B ridgeport, N eb ., t o
Guernsey, W y o ., southeast to North Platte and thence to a con nection with
the main line east o f the latter point, 250 miles.
The Denver & Beaver Valley was Incorporated late in 1904 to build from
Oberlln, K a n ., to U ray, C olo., 100 m . V . 81, p. 1847. Extension from Centralla to Herrin, 111., 52 m ., was opened in Mch. 1906. Extension under
charter o f Big .Horn Southern from Frannle, W y o ., southeast to W orland
91 m ., was com pleted Ju ly 1906.
O R G A N IZ A T IO N , & c.— This was a consolidation In July 1875 of th «
Chicago Burlington & Quincy In Illinois and the Burlington & Missouri R lv .
In Iowa. Chicago Burlington & Northern and other subsidiary lines In Illi
nois were absorbed In May 1899. V. 68. p. 975. In 1900 purchased the re
maining leased lines In Iowa and Missouri, viz.: Kans. C. St. Jos. & Coun.
Bluffs, St. L. K. & N. W ., Chic. Burl. & K . C ., H an. & St. J os., K eokuk A
W est, and Chic. Ft. Mad. & Des Moines, Burl. & Missouri, &c. V . 71, p.
697, 863, 963; V . 73. p. 137, 899.
In 1901 $107,611,600 o f the *110.839,100 stock was exchanged for the
Joint 20-year 4 % bonds o f the Gt. Northern and Northern P a c.. secured by
the deposit o f the stock in trust, on the basis o f $200 In bonds for $100 stock.
See circular, V . 72, p. 871, and application to list, V . 73, p. 293, and de
scription o f bonds under Gt. Northern.
The lease to the Chic. Burl. & Quincy Railway for 99 years from O ct. 1901
at 7 % per annum on stock was abrogated Ju ly 1 1907, the co. resum ing
operation. V . 73, p. 842, 1011, 1061, 1207, 1312; V . 84. p. 1550; V . 8 5 ,p .39.
C A P IT A L S T O C K .— The stock has been Increased for the acquisition o f
new lines, retirement o f over $15,000,000 convertible debentures, &c.; In
1880 a 20 % distribution was m ade. See “ Organization’ above.
D lV S .- i '91 ’92. ’93. ’94. ’95 to ’97. ’98. ’99 to Sep. ’01. ’02 to J u ly ’07.
Per C
5
5 4 % 4 yearly.
6 yearly.
7 yearly.
B O N D S .— For full description o f each loan see the editorial article on
pages 3 to 6 o f “ Supplem ent” o f O ct. 1896, and “ Chronicle” V. 63, p. 775.
The mortgage of 1899 secures bonds limited to $85,000,000, and the
lien securing the bonds becam e an absolute first m ortgage covering all
lines east o f the Mississippi R iver upon the pasm ent of $21,699,000 co n
solidated m ortgage 4 % bonds on July 1 1905. V. 79, p. 2454. See V . 68,
p. 771; abstract, V . 69, p. 283; V . 69, p. 795; V . 74. o . 1307; V . 75, p. 665;
V . 78, p. 1 3 9 1 ,1 9 6 1 ,2 3 8 3 .2 4 4 1 ; V. 79, p. 211; V . 80, p. 2620: V . 83, p .625.
The Iowa Division bonds are a first m ortgage on the main line In Iowa
from Burlington to East Plattsmouth on the Mo. R iver, 272 miles, and on
121 miles of branches; they are also a first collateral Hen on 496 miles of
branches and 86 miles of second track. These bonds have a sinking fund o f
1 Hi % ($203,800) yearly, for which the 4s are subject to call at 100 and the
5s at 105. The single main line and branches covered “ shall not exceed
In the aggregate 900 miles’ ’ at $16,000 per m ile- on second track additional.
$14,000 per mile. V. 65, p. 462.
Denver Ext. bonds can be Increased only for 2nd track at $10 000 per mile.
The collateral trust Nebraska extension bonds o f 1887 are Issued at $20,000
per mile for single and $10 000 per mile for second track on not exceeding
1,500 mllee. Abstract o f deed V 45. p. 441
Burlington <fe M iu ou H RR. in Nebraska consol, m ortgage o f 1878 Is for
$14,000,000, and Is now a 1st M. or 1st collateral lien: all except the exempt
bonds are subject to call for the sinking fund at par- $205,000 retired in
1906. The “ exem pt” bonds m ay be called after 1908.
The $4,230,500 EC. C. St. Joseph & Council Bluffs consol 7s were paid at
m aturity Jan. I 1907. V. 83. p. 1590.
G E N E R A L FIN AN UBS.— Corn being one of the principal articles carried,
the earnings vary greatly according to the size o f tke crop .
A N N U A L R E P O R T .— Fiscal year ends June 30. R eport for 1PO5-05
was in V . 83, p. >63. 974 (see also editorial, p. 937 ), showing results on all
lines operated and controUed.
34
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date Size, or
Par
Amount
of
of
Road. Bonds. Value. Outstanding
Chicago Burlington & Quincy— Stock 7 % rental
Illinois D iv first m ortga ge]$85,000,000 currency re 11,648 / 1899
do
do
/
deemable at 1 0 5 ..N B f
11899
Sink ng fund Iow a D lv 5s (collat trust) drawn at 105 1 891 J1879
\1879
/
1881
Denver exten (colltr) bonds s f drawn at 1 0 0 .. NB.c
370 1881
Debentures for Hannibal & St Joseph s to c k ____c'
1883
Nebraska ext $20,000 p m (s f not drawn) _NB.c*&
1,471 1887
B & Mo R R In Neb) Land gr s f drawn at 100 ..NB1
/1878
Con M $14,000,000JE xem pt, not drawn till 1908/
\1878
Burl & Mo R R In Neb s f for A t & N R R s to c k ..N B
1880
Hannibal & St JoseDh cons M now 1st M ____F.c*
289 1881
K C St Jos & Co—
1st Ms N od & Tark Val R R s s f (drawn at par) .c
59 1880
R ep Val 1st M guar (drawn at 100) s f $14,000 y r l y ..
90 1879
A tch & Neb 1st M A tch to Lincoln Neb &c guar__c*
145 1878
Lincoln & N W R R 1st M guar sink fund 1 % not dr’ i
73 1880
Chicago Cincin & Louisville— C R & M 1st M g -.O B .c
180 1900
Chicago & Cincinnati 1st M $750,000 gold call text
50 1902
Cincin & Ind W 1st M $600,000 call t e x t ____ OB.c*
33 1902
Chic Cincin & Loulsv gen & ref M guar t e x t .-A B .c
264 1903
1902
H oosier Equipm ent 1st M Series A guar p & 1__ BB
___ 1903
Equipm ent trusts $300,000 part due y ea rly ...........
Chicago & E III— Pref stock 6 % non-cum ($10,000 p m)
First mortgage (s f $20,000 no draw ings)____Ce.c*
108 1877
9 1880
Danville & Grape Creek R R — 1st M assum ed____c*
E xtension first m ortgage_________________________ c*
14 1881
Consolidated mortgage (for $6,000,000) g o ld ..C e .c*
127 1884
Collateral trust bonds sinking fu n d ....... ................. c*
1887
817 1887
General consol and 1st M $30,000,000______ Ce.c*&r
176 1885
Chic & Ind Coal— 1st M $25,000 p m assum ed.M p.c*
Evansville Terre Haute & Chicago Income mortgage
49 1881
Indiana Block Coal 1st M sinking fund call at p a r ..
13 1878
R efund & Imp M (text) gold red at 102 M ___Ba.c* &r
. . . 1905
_
_
_
_
_ __
_
$100
1,000 &c
1,000 &c
1,000
1,000
1,000
100 &c
1,000
1,000 &c
600 &c
600 &c
1,000
1,000
$110 839100
m 50,835000
n34 165 000
b 2 ,329,000
c7 ,712,000
d4,300,000
e7,968,000
9.000 000
f 24,505 000
g8,650,000
5,000,000
h3,347,000
8,000,000
[YOU LXXXY.
IN T E R E S T OR D IV ID E N D S .
Rate
%
7
4
5
4
4
4
5
. 4
6
6
4
6
1,000
7
1251,000
6
600 &c k l ,078,000
100 &c j l , 125,000
7
1,000
p600,000
7
1,000
1,804,000
5 g
1,000
750,000
5 g
1,000
600,000
5 g
1,000
2,796,000
4)4 g
1,000
250,000
5
1,000
180,000
5 g
100
8,830,700 6 In 1906
100 &c
6
2,655,900
1,000
97,000
6
1,000
6
91,000
1,000
2,788,000
6 g
1,000
42,000
6 g
1,000 &c See text.
5
1.000
5
4,626,000
1,000
150,000
6
500 &c
7
pi 50,000
1,000 &C
6,000.000
4 g
When
Payable.
Where Payable, and by
Whom.
B o nds— P rin ci
pal, When D ue.
Stocks— Last
Dividend.
Q— J
& J
& J
& O
& O
& s
& A
& N
& N
& J
& J
& J
& S
N Y , Boston and Chicago
Bank of C om , N Y & Bos
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Bank of Comm erce, Bost
do
do
do
do
Bank of Nor A m erica,N Y
July
July
July
Oct
Oct
Sept
Feb
May
May
July
July
Jan
Mar
& D
& J
& S
& J
& O
& A
& D
& J
& J
& D
Q— J
J & D
M & N
J & D
A & O
F & A
M & N
J & J
M & N
J & J
J & J
Second Nat Bank, Bost
Bank o f Comm erce, Bost
do
do
C om pany’s Office, Boston
Old Colony Tr Co, Boston
Old C olony Tr Co, Boston
Old Colony Tr Co, Boston
Amer Loan & Tr Co, Bost
B oston S Dep & T r, Bost
Amer Loan & Tr Co, Bost
Hanover Nat B ank, N Y
Fourth Nat Bank, N Y
Central Trust Co, N Y
Fourth Nat Bank. N Y
Central Trust Co, N Y
do
do
do
do
M etropolitan Tr C o, N Y
Farmers L & Tr Co. N Y
do
do
Bankers' Trust Co, N Y
June 1 1920
July 1 1919
Mar 1 1908
Jan 1 1910
Oct 1 1950
Feb 1 1952
June 1 1952
July 1 1953
July 1908-1912
T o June 1913
July 1 1907 1 H
D ec 1 1907
May 1 1920
Dec 1 1931
Oct 1 1934
Feb 1 1912
N ov 1 1937
Jan 1 1936
May 1 1920
July 1 1908
July 1 1955
J
J
A
A
M
F
M
M
J
J
J
M
J
J
M
J
A
F
J
J
J
J
1 1907 1 W
1 1949
1 1949
1 1919
1 1919
1 1921
1 1922
1 1913
1 1927
1 1918
1 1918
1 1910
1 1811
b $671,000, and c $4,790,000 canceled not Included. d $1,9 19,000; e $3,437 ,900; f $927 ,000 (Ins Inking fu nd uncanceled) Included;
g $7,163,000.
The sink funds held alive July 1906 of bonds above
h $2. 104.00 0; i $48, 000; i $71.1 00; k $53 2, 800; p $48,000; m $384,000; n $82,000.
p $133,000 held alive in sinking fund; par was offered for re malnde r. V .8 4,p . 1365.
1905-06.
1904-05.
1903-04
Miles operated June 30_______________
8,927
8,879
8,821
Freight . ____________ _______________ $51,168,339 $43,863,893 $44,651,997
15,898,243 14,494,573
Passenger................................................ . 16,409,104
Mail and m iscellaneous_____________
6,569,228
6,210,909
6,081,622
Gross earnings.......................................... $74,146,671 $65,973,045 $65,228,192
Expenses and taxes_________________ 53,508,532 44,100,332 44,578,943
N e t __________ _____________________ $20,638,139 $21,872,713 $20,649,249
Other incom e....... .....................................
410,682
302,202 def.204,116
Total i n c o m e .. ................... ...............$21,048,821 $22,174,915 $20,445,133
Interest, rent. & c.................................... 8,306,391
8,370,137
7,630,216
Balance ___________________________ $12,742,430 $13,804,778 $12,814,917
Int.on N or.P a c.-G t.N or.join t b on d s. _ $8,608,968 $8,608,910 $8,608,082
D Iv .on C .B .& Q . stk. held by p u b .,7 %
225,890
225,943
226,667
S u r p l u s ..._____ _________ _________ $3,907,572 $4,969,925 $3,980,168
D IR E C T O R S .— Geo. B. Harris (P res.), John J. M itchell. Chicago, 111.;
Charles E. Perkins o f Burlington, la .; J. J. H ill, St. Paul, Minn.; James N .
H ill, Geo. C. Clark, W . P. Clough, John F. Talm age, Norman B. R eam ,
Geo. F. Baker and Samuel Thorne o f New Y ork .— (V . 85, p. 39.)
CHICAGO CINCINNATI & LOU ISVILLE R R .— (Sfe M a p .)— Owns Cin
cinn ati to Louisville J et., In d ., 265 miles; trackage Louisville Jet. to Chi
cago, 111., 18 miles; total 283 miles. A consolidation June 4 1903; V .76,
p . 1247.
In March 1907 a settlement with the Cln. Ham. & D ayton Interests was
reached under which the $3,500,000 Pere Marquette collateral trust bonds
secured b y the C. C. & L. stock were canceled, the stock being returned to
the old holders, a debt of about $800,000 being canceled and the C. C. & L.
receiving $400,000 in receivers’ certificates o f the Pere M arquette. V . 84,
p. 507, 693. The management o f this property was surrendered Jan. 1 1906
to the form er owners. The Interest due Jan. 1 1906 to Jan. 1 1907,incl.,
on the gen. and refunding 4s o f 1903 was paid b y the com pany at m aturity.
V 82 p 99 217.
S tock outstanding, $4,206,000; par of shares. $100.
The Cln R ichm ond & Muncle 1st 5s, Chicago & Cincinnati, and Cln. &
Ind. W est, issues are all subject to call at 110 after 10 years from their
Issue, the Cln. R ich. & Muncle after Oct. 1910. See official statem ent, V .
71, p. 1066; V . 74, p. 1195. O f the gen. and ref. 4J^s of 1903 (American
Loan & Trust Co. of Boston and Union Trust Co of Indianapolis, trustees)
sufficient are reserved to retire all prior issues, including equipment m orts.;
bal. for extensions. Im provem ents &c. V . 77, p. 349, 1532; V . 80 d. 649.
O ffice, Chicago, 111.— (V . 84, p. 219, 507, 693, 1181.)
CHICAGO & EASTERN ILLIN O IS R R .— See M a p s, pages 116, 117.—
Operates road (double track to Danville Jet., 106 m .) from Chicago, 111., to
Terre H aute. In d ., and bituminous coal fields; also to Thebes and Joppa, 111.
Lines owned In fee.
M iles. Branches to Coal M ines.................. 15
D olton to Danville, 111..................,107 Rossvllle Jet. to Judyville, In d . . 14
Danville. 111., to Brazil, In d ......... 61 Hunt’s E xtension.............................
7
M omence J et., 111., to Brazil, I n d .130
Trackage, &c.
Danville J et.. 111., to Thebes. 111.277 Pana, 111., to E. St. L ou is............. 82
Joppa Jet. to Joppa, I I I ................. 16 Chicago to D olton, Ch. & W . In d . 17
Cissna Jet. to Cissna Park, 111. . . . 11 Otter Creek Jet. to Terre H a u t e ..
6
Rossvllle Jet. to Sidell J et., 111. . . 34 Other lines.......................................... 25
Percy Jet. to La Crosse In d ......... 46
Milford Jet. 111.,to Freeland Ind. 11
Total operated July 1906........... 947
Coal Bluff, In d ., to Casey, In d . . . 7 D ouble tra ck ......................................154
W oodland, 111., to Villa G r o v e .. . 62 Side t r a c k s ........... *........................... 483
F indley, 111., to P a n a ...................... 20 Third tra ck ______________________ 17
H IS T O R Y , LE ASE S & c.— In August 1902 the St. L. & San Fran, ac
quired the greater part of the stock, as said below.
The Chicago & East. 111. owns $1,000,000 stock of Chic. & Western Ind.
Special lease of Chicago freight terminals. V . 78, p. 819. In 1904-05 ac
quired control of the Evansville & Terre Haute, which form s part of the
through line between Chicago and Evansville. V .55. p .995; V .81 p. 1239.
In April 1905 the bridge of the .Southern 111. & Missouri Bridge Co. (which
see) was opened across the Mississippi R iver, form ing with St. Louis & San
Francisco R R . a line to Texas points. V . 71, p. 1219; V . 74, p. 936.
S T O C K .— Comm on stock outstanding, $7,217,800 ($15,000 p. m .); pref.,
$8,830,700. In addition, $6,408,300 com . and $161,300 pref. were held in
trust b y Colonial Trust Co. in July 1906.
in A ug. 1902 the St. Louis & San Francisco R R . gave In exchange for the
com m on and preferred stock Its stock trust certificates at the rate of $ lo o
thereof for each $100 share. V. 75, p. 289. In January 1905 all of the
$7,217 800 com m on and $6,211,700 of the $8,992,000 preferred had been
exchanged on this basis. The St. Louis & San Fran, has the option to re
tire the trust certificates at any time at $250 per $100 com m on stock trust
certificate and S150 per $100 pref. stock trust certificate, payable In gold
an d obligates itself to pay off entire Issue In 40 years from O ct. 1 1902 at
same rates, meanwhile obligating Itself to pay 1 0% dividends on tne com
mon and 6 % on the preferred trust certificates, respectively, these amounts
being equivalent to 4 % on the principal sum to be eventually received In
paym ent therefor. Upon failure to pay any dividend within 30 days after
dem and therefor, any holder may surrender the certificates to the trustee
and receive the shares represented thereby. V . 73, p. 289, 393, 1031;
V. 82. p 48. A m aforltv of com m on stock trust certificates were In 1905
exchanged for certificates In denom inations of $1,000 each, representing 4
shares o f com m on stock, bearing 4 % interest, and payable In 1942 at face
value. See form V. 80, p. 1856.
D IV S . (% ) — ’92-’97. ’98. ’ 99. ’00. ’ 01. '02. ’03. ’04. ’05. ’06.
1907.
On p r e f.______ ] 6 y r l y . 6
6
6
6
6
6
6
6
6
Inc.Jly,4V$
C o m m o n ...........j
0
2 H 3 H 4 H 5H 6
6
8
..............................
No later dividends on com m on stock declared (although paid and charged
against earnings o f fiscal years), because all exchanged for St. L. & S. F.
trust certificates, 5 % being paid out o f earnings of year 1904-05, 5% extra
from accum ulated earnings dt three years ending June 30 1905, and 8%
from earnings o f year 1905-06. V . 80, p. 2398; V . 82, p. 1101.
B O N D S .— The general consol, and 1st m ortgage o f 1887 (trustee. Central
Trust Co.) provides for the retirement o f $6,307,000 prior bonds and for
Issue of bonds on new road at $ 18,000 per mile for single tra ck , also for bonds
for equipment at $7 000 per mile and for double track at $8 ,000 ner mile
In 1897 the gen. consols, were limited to $30,000,000. In June 1907 $16,583,000 were outstanding and $3,085,000 were sold to retire the $2,935,000
bonds maturing Dec. 1 1907 and $150,000 Indiana B lock Coal bonds. V . 84,
p. 1550. See V. 64, p. 1088; V. 78, p. 1446; V . 79, p. 1331; V. 80, p. 1728:
V . 84, p. 1550. Series B equipment bonds mature $57,000 each June and
Dec. and $36,000 each March and Sept.; series C, $53,000 sem i-annu ally, J-J
ser. D, $15,000, J-J; ser. E, $125,000 each, Feb. and A ug.; ser. F, $220,000
each Feb. and Aug.
The refunding and Improvement gold 4s of 1905 ($55,000,000 authorized
Issue) Issued and Issuable as follows;
Sold for Improvements and to reimburse the com pany for Its In
vestment In the Thebes Bridge (see Southern Illinois & Mis
souri Bridge C o., V . 80 p. 1424) and In certain stocks and
bonds o f other companies (see V . 81. p. 1 4 3 6 )...............................$6,000,000
Issuable as required for additions and im provem ents. Including
equipment ............................................................................................ .14,374,000
Reserved *o retire, S for $, $30 000,000 gen. consol, and 1st 5s of
’ 37.Issued and issuable,and $4,626,000 C hic.& Ind.Coal R y . 5s 34,626,000
G E N E R A L F IN A N C E S .— This com pany owns most of the capital stock
of the Brazil Block Coal C o., and carries all its coal
It carries also the coa l
of the Danville, Clinton and Williamson County fields. See V . 82, p. 451.
E A R N IN G S .— For 10 m os. ending April 30;
Gross
N et
Other
Taxes and
Balance,
1st Charges.
Ten M os.
Earnings.
Earnings.
Income.
Surplus.
1906-07__ <. -.$ 9 ,4 4 7,11 4
$3,454,629 $238,258 $2,257,617 $1,435,270
1 90 5 -0 6........... 8,505,520
2,066,894
2,937.737
181,365
1,052,208
A N N U A L R E P O R T .- The report for 1905-06 was In V . 83, p. 887.
R ate per ton per mile was 0.47 cents In 1905-06.
Year ending June 30—
1906.
1905.
1904.
1903.
Miles operated June 30___
947
947
758
751
Gross earnings___________ $9,928,562 $8,423,378
$8,664,042 $7,723,848
Oper. exp. and taxes____ 6,851,289
6,019,850
4,552,089
5,691,933
Net earnings.................. $3,077,273
Net (incl. other Income) .$3,393,692
Interest p a id ____________ / 2 , 248,734/
R e n t a ls _________________ /
\
D lv. on pref. s to ck ............(6)529,842
D iv. on com . s to c k ______ (8)577,424
Construct’ n deprec’ n, & c. _________
$2,403,528
$2,551,698
1,506,468
264,764
(6)499,842
(5)360,890
$2,972,109
$3,327,651
1,356,778
225,655
(6)409,842
(8)577,424
400,121
$3,171,759
$3,544,558
1,282,323
157,523
(6)409.842
(6)433,068
920,647
$341,153
S u rp lu s ___________
$37,692 def.$80,266
$357,831
O F F IC E R S .— Pres., H. I. Miller, Chicago; 1st V ice-P res„ R obert Mather,
New Y ork; S ec., J. S. F ord, Chicago. N. Y . office, 115 B roadw ay.— (V . 83,
p. 887, 1227, 1469; V . 84, p. 1181, 1365, 1550.)
CHICAGO & ERIE R R .— (See M a p Erie R R .)— Owns from Marlon. O .,
to H am m ond, I n d ., 248 miles, and leases trackage over Chicago & W est Ind.
to Chicago, 20 miles. Erie R R . Co. owns entire $100 000 stock.
BONDS — The first mortgage (trustees Central Trust Co. and Edward
Daniels) covers 249 miles o f road, the contract with the Chicago & W estern
Indiana, $1,000,000 o f that com p a n y’s stock, and S240 000 stock of Chlca*«
Belt R y . See abstracts V . 51. p. 911. V . 61, p. 750.
CHICAGO GREAT W ESTERN R Y. (See M a p )— R O A D .— Operates th e
"M a p le L eaf” route, radiating from Oelweln, la ., northerly to St. Paul,
easterly to Chicago and southerly and westerly to Kansas City and Omaha,
em bracing;
Lines owned (total, 757 miles) .M iles] Operated under agreement.
M ilet
Chicago to St. P a u l_____________ 402 [Mason City & Fort Dodge,
385 miles, viz :
Oelweln to St. J osep h ___________ 2891
260
Bee Creek to B everly.......................23 | Oelweln, la ., to Coun’l Bl’ fs.
Sumner to W averly*____________ 22!
H ayfleld, Minn., to C larion,la. 100
Branches to
Lehigh and
D eK alb, Cedar Falls,
& c.,
18
branches, _____________________211
Coalville, I o w a ....................
Trackage, &c. (total, 83 miles) —
T rackage rights Council Bluffs
St. Paul to Minneapolis__________ 1 0 1
to ________________
South Om aha.
Chicago Term inals_______________ lO IW ls. M in n .A P a c .R R ..271 miles
D ubuque to A ik en____________ _ 14]
Mankato to Red W ing
96
Des Moines Term inals___________
3!
R ed W ing to O sage................ .. 118
Beverly to Kansas C ity _____ ____ 371 W inona to Sim pson---------------54
St. Joseph to Bee Creek__________
9| Branch to Clay B an ks---------$
Grand total ow ned, leased and operated under co n tra ct--------------- 1 ,498
• Deduct Sumner to W averly, la ., leased Jan. 1 1904 to W aterloo
& C. F. R . T . R y ................................................................................................
22
Total operated-------------------------------------------------------------------------------- 1,474
H IS T O R Y .— The Chicago St. Paul & Kansas>City was organized in May
1886, and in December 1887 merged with Minnesota & Northwestern. In
August 1892 reorganized per plan, V . 55, p. 856.
On Sept. 7 1893 the Great Western acquired by deed the title o f the
Chicago St. Paul & Kansas City R y. (815.67 m iles). In June 1902 the old
mortgages were satisfied o f record; V . 74, p. 726. As to 7-year contract*
made In 1902 with packing com panies, see V . 75, p. 341.
S E C U R IT IE S .— The holders o f debentures and preferred A stock appoint
the finance com m ittee, which exercises general supervision of finances.
A dditional securities of said Issues can be put out, but only with consent
of a m ajority o f both said classes of stock present at a meeting. Securities
o f other Issues having a lien prior to preferred A can be created, but only
with consent o f two-thirds o f both classes. The several classes In case of
liquidation will have principal paid In gold, according to their priority right
to dividends. At extraordinary general meetings o f holders o f debenture
„HLY, loot.]
RAILWAY STOCKS AND BONDS.
35
MAP
T IIE
CHICAGO, CINCINNATI
M uskegon )
m
Ferrvsburgs.
Grand H avei
Milwaukee
o r
LOUISVILLE R. R
Holland
LAN SIN G,
R acine
H ow ell
Charlotte
M onteith
lenosha
.Eaton R apids
renoM
TRU N K
•Plainwell
South Haven
tu k e g a n
Jackson \/y
Kalamazoi
& /Crystal
>kLake %
H a y ifo r c K ^ jy i
]/ & '
Law ton^y
St-J0^
W
y^ /
j ' \/
■
Homey
\
nt°n li&vhoj y 5 c h o o l< 4 f t \ ViCksb/
H udson
Cassopolis
hite Pigeon,
3-alien'
\
/
Y T e cu m se h
illsdale Adrian
Jonesville'
New B u ffa lo?
/^ M a n c h e s te r
^ ^ A ddison
M ich ig a n ^ "
Goshen
-ALakeville
■L -New Paris
Island
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—^^TvVABAsi-l
s \ K en daIllille
o
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leatfield
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Cloverdale
C olum bus Grove
.untington
° \ Van We
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[CelinaV &
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PRICE’S
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Williamstonl
C E M E TE R Y
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JIAP OF THE
Chicago, Cincinnati & Louisville
Railroad.
Entrnnre and Terminal at Cincinnati.
,^ u i o ;r c ) N
tButler
36
RAILWAY STOCKS AND BONDS
R A IL R O A D S .
For explanation of column headings, A c ., see notes
on first page of tables.
Size, or
M iles Date
Amount
Par
-of
of
Road. Bonds. Value. Outstanding
Chicago & E 111 (Concluded)
1903
Car trusts Including lnt J u ly ’07 due 510,921 m onthly
1903
Equipm ent bonds Series B due quarterly________
1905
do
do
Series C A D-due $68,000 semi-an
1905
do Series E Jue $125,000 s-a (V 81 p 1043) . Ba
1906
d o Series F due $220,000 s-a (V 82 p 7 5 0 ).Ba
C hicago A Erie— 1st M gold lnt guar till prin paid.Ce.c*
249 1890
Incom e bonds for $10,000,000 5 % n on -cu m ______ N
249 1890
Term inal first m ortgage g o ld ........... ........ ......................
1888
C hicago A Grand Trunk— See Grand Trunk W est R y.
Chicago Great W estern—
Debenture stock cum ulative gold $30,000,000 ____
Preferred stock A $15,000,000 5 % g o ld ___________
Preferred stock B 4 % ($24,000,000 a uthorized)____
Com m on stock $50,000,000________________________
Sterling 5-year notes (qo m ortgage) redeem at 1 0 1 ..
1903
1904
Gold notes redeem able at 101______________________
1904
Gold notes $2,500,000 authorized red at l O l - .c A r
1906
Gold notes $1,000,000_______________________________
Chicago A Great W estern— See Chicago Term Trans R
C hicago H amm ond A Western— See Chicago June R y
26 1906
C hicago & 111 Mid— 1st M $5,000,000 g red t e x t.-IC -c*
Chicago A 111 W— 1st M $500,000 g red par aft 3 yrs. AC
1905
Chicago & Indiana Coal— See Chicago A Eastern 111
203 1900
Chic Ind& So— Ind 111 A la 1st M $12,000,000 g .I C C‘
Consol M, $2,000,0000 g o ld _________________________
1906
Chiicago Indianapolis A Louisville— Comm on S to c k ..
Preferred 4 % non-cum ulative $5,000,000__________
L N A A C 1st Main Line— N A to Michigan C ity.-C *
289 1880
162 1881
1st M Chic A Ind D iv, Chicago to Ind g old ____ c*
509 1897
C l 4 L refunding m ortgage $10,300,000 g o ld ____ Ce
do
gold 6s Issued for old consols_________
509 1897
Con Stone Co 1st M $250,000 gold guar pA i red text
1900
Indiana Stone R R first m ortgage guaranteed______
60 1906
Indlanap A Loulsv 1st M $6,i>00.000 gold gU-_Se*
Chicago Indianapolis A St Louis Short Line— See Cle veland Cincin
1,000
1,000
1,000
1,000
1,000
1,000 Ac
*
100
100
100
100
Various
Various
5,000
Various
1,000
1,000
stock and preferred A stock collectively holders o f one-tenth o f said stocks
outstanding, present or represented, constitute a quorum , and b y a m ajority
vote have power to sanction any m odification o f the rights o f said stocks.
F or rights o f stock see editorial in “ S u p p .” for O ct. 1897; see also V . 71,p .441
In 1898 the authorized issue o f 4 % debenture stock was increased from
$15,000,000 to $30,000,000, for future refunding and im provem ents.V . 66,
p. 133, 663, 1088. In March 1907 $2,000,000 o f the remaining $3,873,000
debenture stock was subscribed at £16 per $100 share, payable £2 on appli
cation. £ 2 on April 4, £12 July 1. V . 84, p. 745, 748, 1247.
In N ov. 1902 $6,500,000 com m on stock was issued to purchase part of
stock o f the Mason City A F t. Dodge R R . and part o f stock o f W ls. Minn. A
Pacific R R ., 271 miles. V . 75, p. 1201.
The stockholders voted Sept. 7 1905 to authorize an Increase In the pre
ferred B stock from $10,000,000 to $24,000,000, the new stock being e x
changed, dollar for dollar, for Mason City A F t. D odge preferred stock.
V . 80 p. 2457 2620; V . 82, p. 1379.
The gold notes are a direct obligation ahead ot the debenture stock. No
lien can be placed on property w ithout providing for their paym ent.
V . 79, p. 902. Equipm ent lease warrants Mar. 31 1907, $481,255.
D IV ID E N D S .— On pref. “ A ” paid Jan. 1899, 2 %; In July 1899 2 %; in
1900 to Feb. 1904, 5 % y e a r ly . In 1906, 5 % (A A O ); in 1907, A p r.. 2H % .
F IN A N C E S .— As to $3,873,000 new -debenture stock offered In March
1907 see above.
B oth the Mason City A Ft. D odge R R . and the W isconsin Minnesota A
Pacific R R . are operated for 100 years under agreements dated April 1
1901. th e Chic. Gt. W est, receiving their entire net earnings above interest
on bonds and owning their entire stocks. By later agreement the Mason
City & Ft. Dodge receives 60 % on business Interchanged, any surplus above
Interest to be held for paym ent o f future coupons. See separate statements
for each Co. V . 73, p .566, 722; V .7 4 , p .93; V .7 5, p .1201; V .8 0, p .1911.
In April 1905 $12,000,000 Mason City A Ft. D odge 4 % bonds were sold.
See that com p any and V . 80, p. 1363, 1911.
E A R N IN G S .— 11 m o s .J 1906-07____Gross, $8,740,988; net, $2,377,008
July 1 to May 31.
[1905-06____ Gross. 8,126,926: net, 2,340,197
Semi-annual report in V . 84, p. 745. For 9 mos. ending Mar. 31 1907,
n et, $1,996,635; against $2,002,954 In 1906; charges, $1,596,143; div. on
pref. ' ‘ A ” (2 34 % ), 5283,423; b al., sur., $117,069.
Earnings since Jan. 1904 are based on 818 miles o f road proper, only the
net earnings o f the proprietary lines over bond Interest being Included.
R E P O R T .— R eport for 1905-06, V . 83, p. 6 21, 630.
Year ending June 30—
1906.
1905.
1904.
1903.
A verage m iles_____ ______
818
818
874
929
■Gross earnings_____ ______$8,573,148 $7,377,711 $8,022,674 $7,823,191
Net in c o m e ........................ 2,539,493
2,038,618
1,902,632
2,184,662
Rentals (incl. equipment)
426,951
433,516
431,368
408.144
Interest paid____________
372,237
368,726
283,625
174,585
Int.in cash on 4 % deb.stk. 1,044,978
1,044,976
1,04-4,976
1,025,693
D iv. on pref. s t o c k -'A ” .-(5 )5 6 8 ,620
_________(2 34) 284,310 (5)568,620
B alance........................... su r.126,706 su r.191,400 def.141,647
sur.7,620
O F F IC E R S .— P res., A . B . Stickney; V ice-P res., A . Oppenhelm ; S e c., R .
C. W ight: T reas., R . O. Barnard; all o f St. Paul.
Directors— A . B. Stickney, A . Oppenhelm , S. C. S tickney, F . W eyer
haeuser, J. W . Lusk, H . E. Fletcher, T . H. W heeler. M. D. Flow er, R . C.
W ight. N . Y . office, 31 Nassau S t.— (V . 84, p. 930, 1181, 1247.)
CHICAGO A ILLIN O IS M ID L AN D R Y .— Owns A uburn, 111., to Taylorville, 26 miles, of which 17 miles was opened June 1907. Stock authorized,
$2,000,000; outstanding, $1,000,000 (par o f shares $100), a m ajority being
ow ned b y Illinois Midland Coal interests. The bonds are subject to call
on terms to be fixed for the several issues: the $780,000 bonds issued on
the first 26 miles m ay be called at 110 on A ug. 1 1910 for any subsequent
Interest da y. See V . 82, p. 452, 803. (V . 82, p. 803.)
CHICAGO A ILLIN OIS W ESTERN R R .— T o extend from Western A v e .,
C hicago, southwesterly to Joliet, 111., with branches, a total o f 54 miles, o f
which 15 miles in operation and balance was expected to be early in 1907.
Extension reported to be proposed from Joliet to Gary. V . 83, p. 491.
S tock. $500,000, to be increased to $1,000,000; par, $100. B onds, see
table above. Pres., W . E. Phillips. O ffice, 184 La Salle S t., Chicago, 111.
— (V . 83. p. 491.)
CHICAGO IN D IA N A A EASTERN R Y.—Owns Converse, In d ., to Muncle,
43 miles. In May 1907 the Pennsylvania Co. acquired all the securities,
the road being operated as part o f the Pitts. Cln. Chic. A St. Louis. V . 84,
p. 1181, 930. For year ending June 30 1906 (receivers’ report), gross,
$118,899; net, $8,590; deductions, $39,675; b al., d ef., $31,085.— (V. 84,
p. 569, 930, 1181.)
CHICAGO IN D IA N A A SOUTHERN R R .— (See M a p s N . Y . Cent. &
Hud. R iv. R R .)— Owns from South Bend, In d ., to Seatonville, 111., 192 m .
(form er Ind. 111. A Iow a R R .); D anville, 111., to Indiana H arbor, In d .,
109 m .; branches 11 m. (form er Ind. H arbor R R .); trackage 28 m .- total
340 miles.
A consolidation A p r.’06 o f the Ind. 111. A Iow a, Ind. Har. R R . and Dan
ville A Ind. H ar. R R . V . 82. p. 803, 867. Stock, $20,000,000, of which $5,000,000 Is 4 % cum . p ref., the Lake Shore A Mich. Southern subscribing for
$17,000,000 and the Mich. Cent, for $3,000,000.
B O N D S .— O f the $12,000,000 Indiana III. A Iow a 4s o f 1901. $7,500,000
were Issuable only for n ew property and Im provem ents; o f these $350,000
were issued in 1902. V . 71, p. 1269; V . 72, p. 87, 722; V . 74, p. 1251. O f
the consol 4s o f 1906 $4,850,000 is reserved to retire the old bonds.
E A R N IN G S .— For 5 m onths ending M ay 31 1907, gross, $1,244,649; In
1906, $976,854.
R E P O R T .— R eport for year ending Dec. 31 1906, In V . 84, p. 865,
showed: Gross, $2,332,732; net, $480,924; other incom e, $3 2,249; charges
and taxes, $254,869; b al., sur., $258,304.— (V . 84, p. 803,865.)
CHICAGO IN D IA N A PO LIS A E V A N SV ILLE R R .— V . 84, p. 1550.
CHICAGO IN D IA N A PO LIS A LO U ISVILLE R Y .— Operates the
-•‘ M onon R ou te” from Chicago, 111., via M onon, In d ., to Indianapolis, In d .,
and L ou ’ sville, K y ., with branches. The system^includes:
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
\ Payable
Bonds— P rin d pal, When D ue.
Stocks— Last
Dividend.
When Payable, and by
Whom.
$764,312
First Nat B ank, Chicago
5
M A S Blair A Co, New York
790,000
1.020.000
do
do
434
J A J
434 g F A A
2,000,000
do
do
4 «g F
3.740,000
A A
do
do
5 g
M A N Erie R R , New Y ork
12.000.000
10,000,000 M ostly o wned by Erie R R
300,000
5 g
J
A J Erie R R , New York
I
T o April 5 1915
T o Sept 1910
T o Jan 1 1918
Feb '08-A ug' 15
Feb ’08-Feb ’ 16
May 1 1982
Oct 1 1982
July 1918
f
28,127,000
4 g
J A J
Jan 15 1907 2 %
11,336,900 5 In 1906 A A O !
1 ’07 2H
1 Apr
2 3,103,842 I None 1 Semi-an (•R. Benson A Co. Lon-<
44,464.545 \ paid I . .
don, England
|
3,342,545
5
Semi-an
I Various 1908
1,572,757
5
Semi-an J
I Various 1909
2,499,697
5 g
F A A Blair A Co, New York
Aug 1 1909
999,273
5 s ] Semi-an R Benson A C o, London Various 1911
__
780,000
500,000
5 g
5g
4.850,000
4 g
4 g
10,000,000
100 10,500,000 3 In 1906
100
5,000,000 4 In 1906
3,000,000
1,000
6
2 300.000
1,000
6 g
1,000
5.000,000
5 g
4,700,000
6 g
1,000
1,000
68,000
6g
5 g
1,000 In treasury.
1,000
1,500,000
4 g
natl Chic ago A St Lo uls.
1,000
[V o l . l s x i v .
__
F
J
A
A
A Chase Nat B k,N Y ; or Ch Feb 1 1956
J Amer Trust & Sav Bk.Ch July 1 1945
J
J
J
J
J
F
J
J
M
M
J
A J Treas, Grand Cent Stat’n
A J
do
do
A D J P Morgan A Co, N Y
A D
do
do
A J
do
do
A A
do
do
A J
do
do
A J
do
do
A N Amer Tr A Sav B k, Chic
A S New York
A J Standard Trust C o, N Y
July
Jan
June
June
July
Aug
July
July
May
Sept
Jan
’ 1950
1 1956
28 '07 1 H
28 ’ 07 2 %
1 1910
1 1911
1 1947
1 1947
1 1920
1 1948
1 1956
Lines owned—
M iles. | Oper. under contract—
M iles.
Indiana State Line to Indian|Chicago to Indiana State L ine___20
ap olls----------------------- ----------------162|New A lbany to Louisville________ 6
New A lbany to Michigan C ity___289 |Connection in Indianapolis______
2
Bedford to Switz C ity ___________ 40 Clear Creek to H arrodsb’g, I n d .. 9
Orleans to French Lick S p r in g s .. 1 8 1Swltz City to west o f L in ton ..........10
I Br. to Switz City (coal o n ly )____ 35
T otal o f all June 30 1906______________________________________________ 591
A lease for 999 years with Chicago A W estern Indiana (o f whose stock this
com pany owns $1,000,000) gives entrance to Chicago on a m ileage basis.
Owns one third interest in Kentucky A Indiana Bridge at Louisville, K y.
Owns entire stock o f Indianapolis A Louisville R R ., projected from at or
near Indianapolis to Evansville, A c., of which 60 miles from Cloverdale to
coal fields o f Southern Indiana was almost com pleted In June 1907.
Dividends o f 4 % are guaranteed under 99-year lease and bonds guaranteed
prin. and int. See " B o n d s ” below . V . 82, p. 509; V . 83. p. 888, 1290.
H IS T O R Y .— Successor July 1 1897 o f Louisville New A lbany A C hicago,
foreclosed per plan in V . 63. p. 922. Suit settled. V . 75. p. 1031.
In A ug. 1902 the Louisville A Nashville and Southern JRy. acquired 93 %
of $10,500,000 com m on and 77 % o f $5,000,000 preferred stock, on the basis
o f $78 and $90 per $100 share respectively in their joint 50-year 4 % collateral
trust gold bonds at par, secured b y the stock acquired. See description of
bonds under Louisville A Nashville. V . 74, p. 1088, 1138; V . 75. p. 28.
D IV ID E N D S .— On p ref.. 1899, 1 % ; O ct. 1900 to June 1907, both In
clusive. 4% per annum. On com m on. 1902, 1 % : 1903, 3 X % : 1904, June
1 M % ; D ec., 1 H % ! 1905 and 1906, 3 % (J A D ); 1907, June, 1 K % .
B O N D S .— Refunding mortgage covers road, equipm ent, A c. (Including
$1,000,000 stock of Ch. A W . Ind. and $240,000 stock o f the Belt R y. of
C hicago); total authorized issue is $15,000,000, o f which unissued balance Is
reserved to take up existing divisional bonds at m aturity. The Consolidated
Stone bonds were subject to call Jan. 1 1907. • V . 74, p. 42.
Indianapolis A Louisville guaranteed bonds, o f which $1,500,000 sold In
Feb. 1906 for 60 miles o f road, balance Issuable at $30,000 per m ile. See
above. V . 82, p. 508; V . 83, p. 1290.
E A R N IN G S.— 11 m o s.J 1906-07____ Gross, $5,486,635; net, $1,671,165
July 1 to M ay 31.
\1905-06------ Gross, 5,422,045; net, 1,830,980
A N N U A L R E P O R T — In V . 83, p. 888, showed;
Year ending June 30—
1905-06.
1904-05.
1903-04.
1902-03.
Gross earnings___________ $5.9 ? 1.002
$5,614,903 $5,300,623 $5,066,131
1,933,063
Net earnings..... .............
1,979,710
1,884,454
1,949,773
Dividends, A c ., received249,475
155,751
160,432
257,031
T otal net Incom e......... $2,232,538
Interest on bon d s_______
$772,100
262,801
Rentals, A c _____________
$2,140,142
$772,100
253,094
$2,141,485
$772,100
250,023
$2,105,524
$772,100
224.193
T o t a l ............................... $1,034,901 $1,025,194 $1,022,123
$996,293
Surplus for dividends____$1,197,637 $1,114,948 $1,119,362 $1,109,231
Dividend on pref., 4 % ___
200,000
200,000
200,000
200,000
Dividend on com m on ____ (3)315,000 (254)288,750 (2 ^ )2 6 2 ,5 0 0 (2 ^ )2 6 2 ,5 00
O F F IC E R S .— Pres., W . H. M cDoel, Chicago; V lce-P res., Morton F.
Plant, New York; T reas., Byron Cassell, 198 Custom House Place, Chicago;
Gen. Mgr., B. E. T aylor, Chicago: S ec.. J. A . H ilton, 80 B roadw ay, N Y .
Directors.— Thos. W . Jovce, A . H. Gillard, A . T . French, Chas. Steele,
R . M. Gallaway, Tem ple B ow doln, Morton F. Plant, New York: W . H.
M cD oel, G. B. Shaw, E. C. Field, Chicago; J. M urdock, L afayette, In d ,—
(V . 82, p. 392, 508; V. 83, p. 686, 888, 1347; V . 84, p. 101.)
CHICAGO JOLIET A KANSAS C ITY R R .— Projected from Chicago, via
Joliet to Kansas C ity, M o ., about 500 miles, with branches to Kelthsburg,
M o., etc. Prom oted by Dolese A Shepherd, o f Chicago, who are interested
In the Chicago A Illinois W estern, and an Eastern syndicate. Stockholders
voted Oct. 15 1906 to Increase the authorized stock from $ 1,000,000
to $12,000,000, o f which $2,000,000 preferred, and make a bond Issue
o f $12,000,000.— (V . 83, p. 379, 491, 969.)
CHICAGO JUNCTION R R .— T o be an elevated road, 3.75 miles o f track,
extending from junction with South Side Elevated R R . at 40th St. to the
Stock Yards. Leased to South Side Elev. for 50 years (with right to pur
chase at cost within 20 years) at a rental covering bond Interest and all ex
penses. Capital stock. $50,000. Bonds are guaranteed, prin. and Int.,
b y Chicago Junction Railways A Union Stock Yards C o.; they are subject
to call at 105 after 1910. Form o f guaranty, V . 82, p. 568.— (V . 82. p .568.)
CHICAGO JUNCTION R A IL W A Y .— Owns and operates a belt line
around Chicago from W'hltlng, In d ., to Franklin Park. 111., from Chappell,
111., to U. S. Yards, and In the Union Stock Yards district connects with
Industries and all diverging roads.
Mileage operated (first track only)
76.34 m ., of which Chicago Junction R y. owns 30 42. the balance being
operated under lease, trackage rights and other agreements: total mileage
Including second track yard track and sidings. 284.25 miles.
In June 1907 the Vanderbilt (New York Central) interests arranged to
acquire 46 miles o f the outer belt line.— V . 85, p. 159.
S T O C K .— T he entire capital stock, $2,200,000, N owned by the Chicago
Junction Rys. A Union Stock Yards Co See Industrial Cos.
B O N D S .— First m ortgage of C. H. A W .. for $2,500,000 (trustee, E.
Francis H yde, N. Y . ) , assumed. V . 64, p. 287.
E A R N IN G S .— For year ending Dec. 31 1906, gross, $2,770,299; net, tnclu d ln g oth erin com e, $1,017,301; charges. 5820,859; dividends (6 % ) . $132,000; surplus, $64,441.— (V . 78, p. 583; V . 80, p. 649, 711; V . 84. p. 1488.)
CHICAGO K ALAM AZOO A SAO IN A W R Y .— Owns 55 m .. P avilion to
W ood bu ry, Mich. Acquired in Dec. 1906 b y Mich. Cent. (New York Cen
tral system ), but will be operated Independently. V . 84, p. 50. S tock,
co m ., $2,000,000; p ref., $450,000; outstanding, $450,000 each; par o f
shares. $100. T he 1st m ort. Is for $225,000 to Union Trust Co. o f Detroit
as trustee; bonds all In treasury; current accounts Dec. 31 1905, $29,702.
In 1905, gross, $143,524; net, $39,233; dividends, $31,500. Pres., H. B.
L edyard, Detroit; Treas. and S e cy., W . J. K ealey, K alam azoo, M ich.—
V . 61, p. 1063; V. 84, p. 50.)
38
R A IL R O A D S .
For explanation of column headings, &.C., see notes
on first page of tables.
Chicago Junction RR— 1st M $2,327,000 g old red 105c*
Chicago Junction Ry— Chic Ham & W 1st M g o ld .c* &r
Chic Milw & Gary— 111 I & M 1st M $5,000,000 g red lec
Chicago Milwaukee fit St Paul— Com Stock (see text)
Preferred stock 7 % yearly, not cum , $ 124,654,400..
1 & D Exten 1st M convertible into p referred._F .c*
S W D iv first m ortgage Western Union R R ______ c*
Southern Minnesota Division first m ortgage____ F.c*
Mineral Point Division first m ortgage_________F.c*
Hast & Dak Div E xt first m ortgage $990,000 5s) F.c*
Lacrosse & D av Division first m o r t g a g e _____ F.c*
Wise Val R R Co 1st M Tom ah to Merrill, W Is____c
Wise Val Div 1st M sink fd not draw n____ NB.c*
Dub Div 1st M sinking fund not draw n____ NB.c*
Chic & Pac Div 1st M (Chic to K ittred ge)_____ F.c*
do W estern D iv 1st M (see text) g o ld ____ F.c*
Chicago & Lake Superior D iv 1st M g old ____ F.c*
Wise & Minn D iv first m ortgage g o ld ___________ F
Fargo & Southern first m ortgage gold assum ed____
Chic Mllw & St P Terminal m ortgage g o ld ____ F.c*
D akota & Great Southern first m ortgage gold ____ F
Chicago & Missouri River Dlv. first m ortg a g e..F .c*
General M (for $150,000,000) gold Series A _U s.c*& r
do
do
Series A reg istered ___________
do
do
Series B _____________ ______c*
do
do
Series B registered____ _____
Milwaukee & Northern 1st M Schwarz to Gr Bay__c*
Consolidated m o rtg a g e _____
. _____________ c*
Chicago & N. W .— Com stk $177,604,880 a u t h _____ Tr
Preferred stock (not cumulative) see t e x t_________Tr
Chic & N W con sink fd M ($12,900,000) not d r.F .c*
Cedar Rapids & Missouri River— 1st M 3d D l v ..
Mortgage o f 1884 Cedar Rapids to Des Moines Riv
Madison Exten 1st M g (s f $23,000 not drawn) . .F
Menominee Exten 1st M g ( s f $20,000 not dr’n)_F
. N orthw Union 1st M gold Mil to F o n d -d u -L a c.-F
M iles Date
Size, or
Amount
Par
of
of
Road. Bonds. Value. Outstanding
27*48
125
335
212
419
133
395
185
107
161
351
120
1,117
68
230
119
159
77
5,722
5,722
5,722
5,722
126
362
4,273
4,273
788
150
122
129
114
62
1905
1897
1904
1878
1879
1880
1880
1880
1879
1879
1880
1880
1880
1881
1881
1881
1883
1884
1886
1886
1889
1899
1889
1899
1880
1884
1865
1866
1884
1871
1871
1872
IN T E R E S T OR D IV ID E N D S .
Rate
%
$1,800,000
4 g
2,500,000
6 g
2,820,000
5 g
83,107,100 7 in 1906
49,922.500
7
350,000
7
4,000,000
6
7,432,000
6
5
2.840,000
6,670,000 5 & 7
2,500,000
5
1,106,500
7
2,002,000
6
5,352,000
6
3,000,000
6
25,340,000
5g
1,360,000
5 g
4,755,000
5 g
1,250,000
6g
4.748,000
5g
2,856,000
5 &
3,083,000
5
a24,000,000 /
4 g
I 4 g
a l l , 164,000 /
zx s
I 3 y3 e
2,155,000
6
n4,003,000
6
99,604,300 7 in 1907
22,395,000 8 in 1906
12,832,000
7
2,332,000
7
769,000
7
500 &c b2,977,500
7 g
500 &c c2 ,546 500
7 g
500 &c d3,365,000
7 g
$1,000
500 &c
1,000
100
100
1,000
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,0001
1 ,0 0 0/
1,0001
1 ,000/
1.000
1,000
100
100
1,000
500 &c
_____
When
Payable.
CHICAGO M IL W A U K E E & G A R Y R Y .— (See M a p on page 7 3 .)—
If merger proposed in 1907 be consum m ated, will operate R ock ford . 111., to
Mom ence, 125 miles, of which Aurora to Joliet, 24 miles, is Elgin Joliet &
Eastern trackage; extensions p rojected from R ock ford , 111., to Milwaukee,
Wis.', via Beloit and Janesville, 103 miles; also from a connection at Peotone, 111., to Gary, In d ., 35 miles. Owns entire stock and bonds of R o ck
ford Belt R y . V . 81, p. 1175.
Proposed consolidation o f the Illinois Indiana & Gary with the Milwaukee
R ockford & Eastern and the Illinois Indiana & G ary. V . 84, p. 508, 1307.
Stock, $5,000,000, all outstanding; par o f shares, $100.
BON DS o f 111. Iow a & Minn, are subject to call at 107 and int. o n 6 m os.’
notice; o f the $5,000,000 bonds authorized, $4,000,000 was issuable at not
exceeding $30,000 per mile o f main track when com pleted in 10-mile sec
tions. The remaining $1,000,000 is issuable (a) on vote o f not less than
two-thirds of the stock for acquisitions o f com pleted connecting lines, the
bonds to be a first lien thereon at not exceeding $30,000 per m ile, or (b) at
not exceeding $200,000 yearly for additional lands, buildings, side tracks,
second tracks, terminals, im provem ents and rolling stock, but only when
the portion o f the road for which they are acquired is in operation. V . 78,
p. 2599; V . 79, p. 103. Pres., H . W . Seam an, “ The R oo k e ry ,” Chicago,
111.— (V. 84, p. 996, 1307.)
CHICAGO M ILW A U K E E & ST. PAUL R Y .— (See M a p of E xtension.) —
Operates from Chicago westerly to S t/ Paul, Minneapolis and Lake Superior,
Omaha, N eb., and Kansas C ity, M o., with lines traversing Illinois, Iow a,
Missouri, Michigan, W isconsin, Minnesota and the Dakotas, viz.:
Road—
M iles. I Road—
M iles.
Lines owned (of which 28 miles
Second and third tra cks..................386
owned jo in tly ).......................... 7.015 ITrackage (Including 2d t ra ck ). . . 289
H IS T O R Y , &c.— The Milwaukee & St. Paul R R . Co. was organized May
5 1863 and on Feb. 11 1874 took Its present name. The system has since
been greatly extended by the construction and acquisition of other lines.
The sale of the Milwaukee & Northern to the St. Paul was ratified In Sept.
1893. The W hite River Valley R R ., with $50,000,000 authorized stock,
authorized to build from Chamberlain, S. D ak., the present western term i
nus of the St. Paul, to R apid City, 219 miles, has com pleted 120 miles west
from Chamberlain, S. D. V . 80, p. 1110; V . 81, p. 849, 1492; V . 83, p. 682.
The Pacific extension from western terminus at Glenham, S. D ., to Seat
tle and T acom a, 1,564 miles, is expected to be com pleted by Jan. 1 1909,
construction having com m enced at Pacific Coast and con tract let for 800
m. from Glenham , S. D ., west. See V . 84, p. 219; also V . 81, p. 1609
1664; V. 83, p. 94, 686, 1469. in May 1906 the Montana R R ., Lom bard to
Lewiston, M ont., 157 miles, and branch, 6 miles, was acquired, and will
form part o f the Pacific Coast extension, con tract being awarded for a 160mile section o f new line from Forsyth to H arlow tow n. Mont. V . 82, p. 1211.
C A P IT A L S T O C K .— The preferred stock has a prior right over the co m
m on stock to a dividend of not over 7 % from net earnings In each year, but
If not earned it has no cum ulative right. A fter paym ent of 7 % on preferred
and 7 % on com m on, both classes share pro rata.
The authorised com m on stock was increased In 1902 from $58,183,900 to
$83,183,900 and in Oct. 1906 to $158,183,900. V . 83, p. 890.
The preferred stock on D ec. 31 1873 was $12,274,483; it was Increased
to $49,747,400 almost entirely b y exchange o f convertible bonds for stock,
o n ly about $9,000,000 having been Issued for other purposes (Im prove
m ents, &c.)
In Oct. 1906 the authorized am ount was increased by
$75,000,000 to $124,654,400: V . 83, p. 890. In J u ly 1907 on ly $350,000
bonds exchangeable for preferred stock remained outstanding.
In Aug. 190*5 stockholders were offered the right to subscribe to $25,000,000 com m on stock at par. Increasing the am ount outstanding to
$82,911,300. V. 83. p. 379. 890. In Dec. 1906 stockholders were offered
the right to subscribe pro rata for $66,328,500 preferred and $33,164,300
com m on stock at par, of which 10% payable Dec. 31 (or In case of non
resident holders Jan. 10 1907), 15% June 1 and 20% Dec. 1 1907, 20%
June 1 and 20% Dec. 1 1908, and the rem aining 15% Mch. 1 1909. The
proceeds will provide for the estimated cost o f $75,000,000 for the Pacific
Coast extension, about 1,5 0 0 m iles,and 500 miles o f branches, and $25,000,000 for contingencies, further branches and equipm ent. This will Increase
the amounts outstanding to about $116,000,000 each o f preferred and co m
m on stock. The new stock m ay be Issued on paym ent of the final install
ment or at such times and In such amounts as the directors m ay determine
V . 83. p. 1523; V. 84. p. 50, 101; V . 85, p. 98.
D ividends s in c e ’ 911 ’92. ’ 93. ’ 94. ’ 95. ’ 96. ’ 97-’00. ’01. ’02-’06.
1907.
On com tnon, % .\
2
4
4
2
4 5 y ’ly .
6 7 y ’ly . A p r.,3H
On preferred, % j
7
7
7
7
7 7 y ’ly .
7 7 y ’ly . Apr.,3>S
B O N D S .— Abstracts of some o f the older m ortgages were published in the
■•Chronicle,” V . 45 p. 85, 114, 144, 212 and V . 48, p. 830.
Chicago & P acific Western D ivision, see Supplem ent of Jan. 1901.
Terminal 5 % bonds of 1884 cover terminal property of several hundred
acres in Chicago and Milwaukee.
The general mortgage of 1889 (see abstract In V . 48 p. 830) Is for $150 000,000, to the United States Trust Co. of,N ew Y ork, as trustee, and covers
the entire railway property and franchises o f the com pany (therein d e
scribed) subject to prior liens as below m entioned. The prior lien bonds can
not be extended, but will be paid oft at m aturity.
On June 30 1906 the follow ing am ounts of general m ortgage bonds had
been issued or were reserved for the purpose Indicated, viz.:
A m ount in the hands o f the p u b lic...................................................
$32,791,000
In treasury of the com pany (unsold) see b e lo w * ........................
2,988,000
Total reported b y the com pany as outstanding......................
$35,779.000
Reserved for prior liens.......................................................................
86,272.500
Available or eventually to becom e available for lmprove-1
m ents, there being included In this am ount the bonds orlgi- }■ 27,948,500
nally reserved for prior liens, which have since been I
converted into preferred and com m on s t o c k ...........................J
Total authorized........................................................................... $150,000,000
•Of the bonds In the treasury June 30 1905, $2,450,000 was sold in
1935-06. V . 82. p. 1437, 1496.
G E N E R A L FIN A N C E S , & c.— Capitalization per mile of road June 30
1906: Stock, $15,310; bonds, $17,299: Interest charge, $839.
As to Pacific extension, see "H is to ry " above.
Where Payable, and by
Whom.
& S !N W Harris <S Co, Chic
& J Central Trust C o, N Y
& S New York or Chicago
& O N Y O ffice, 42 Broadway
do
& O
do
do
& J
do
& J
do
do
& J
do
do
& J
do
do
& J
do
do
& J
do
do
& J Lee Higginson, Boston
& J O ffice, 42 Broadway
& J
do
do
do
& J
do
do
& J
do
do
& J
do
do
& J
do
do
do
& J
do
do
& J
do
& J
do
do
do
& J
do
do
& J
do
do
Q— J
do
do
J & J
do
do
Q— J
do
do
& D
J
do
do
& D
J
& J C o s office, 111 B way N Y
J
do
ao
Q— J
do
do
Q— F
do
M & N
do
do
& D
do
J
do
A & O
do
do
J & D
do
M & S
do
do
M
J
M
A
A
J
J
J
J
J
J
J
J
J
J
J
J
J
J
J
J
J
J
a Including June 1906 $2,214,000 o f 3 H s and $159, 000 of 4s in treasury and not lis ted (see t e x t ).
r A lso in sink, fund July, 1906: b $172,500: c $150, 500; d $135,0 00.
[V o l . l x x x v .
RAILWAY STOCKS AND BONDS.
n $1,089,000 additional
Bonds— P rinci
pal, When D u e.
Stocks— Last
Dividend.
Mar 1 1945
Jan 1 1927
Mar 1 1944
Apr. 20 ’07 3 M
Apr. 20 '07 3 H
July 1 1908
July 1 1909
Jan 1 1910
July 1 1910
Jan 1 191a
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
July 1 1914
Jan 1 1916
July 1 1926
May 1 1989
May 1 1989
May 1 1989
May 1 1989
June 1 1910
June 1 1913
July 1 1907 3 *
July 1 1907 2 %
Feb 1 1915
May 1 1916
June 1 1909
April 1 1911
June 1 1911
June 1 1917
In treasury.
In 1906 the Union Pacific system (Oregon Short Line) acquired $3,690,000
stock and subscribed for $2,767,500 new stock. V . 84, p. 572.
In A ug. 1906 stockholders were offered the right to subscribe to $25,000,000 com m on stock and in D ec. 1906 to $66,328,000 preferred and $33,164,300 com m on stock at par, with installments payab e to March 1909.
See STOCK above.
Average freight train-load in 1905-06 was 282 tons; rate per ton per m ile,
0.862c.; in 1904-05, train-load 264 tons: rate per ton per m ile, 0.881c.
E A R N IN G S .— For 11 m os. ending M ay 31 1907, gross, $55,669,422.
against $50,649,321 in 1905-06.
For 9 m os. ending March 31 1907. n e t, $18,801,841; other in com e,
$275,449; interest, taxes, & c., $6,472,609; balance for dividends, $12,624,681; dividends at the rate o f 7 % yearly ( 5 ) 4 % for the 9 m os.) on th e
$49,747,400 preferred and $82,910,570 com m on as outstandinglM arch 31
1907, call for $6,964,543. V . 85, p. 98.
A N N U A L R E P O R T .— Fiscal year ends June 30. Annual m eeting is
ueld in Sept. R eport for 1905-06 was given in V . 83, p. 683.
1905-06.
1904-05.
1903-04.
Average miles operated June 30___
6,961
6.908
6.829
Passenger earnings............................. $11,123,545 $10,126,958
$9,661,633
Freight ea rn in g s.................................. 40,187,710
35,968,947
35.081.759
Mail, express, & c., earnings______
4,111,798
3,788,209
3,586,942
Total earnings__________________ $55,423,053
Maintenance o f w a y _______________ $5,955,432
Maintenance cars and engines_____
5,598,046
Transportation, gen. expenses, &c_ 19,699,381
T a x e s .....................................................
1,730,729
1,511,758
Renewal a ccou n t__________________
Additions to p rop erty______________
712,331
Miscellaneous______________________
1,236,654
$49,884,114
$5,336,626
5,181,586
18,280,457
1,632,333
$48,330,335
$5,128,249
4,651.783
18,597,343
1,600,732
*619*960
1,243,079
707,575
1,190,907
$36,444,331
$18,978,722
258,359
$32,294,040
$17,590,073
230,798
$31,876,590
$16,453,745
316,431
$19,237,081
$5,913,850
2,540,467
$17,820,871
$5,962,045
$16,770,176
$6,051,775
$10,782,764
$4,072,872
3,472,868
$11 .858,826
$4,072,873
3,433,878
$10,718,401
$4,072,873
3.368,358
Other Incom e.
Interest on d e b t__________________
.
.
Balance, surplus........................... .. $3,237,025
$4,352,075
$3,277,181
O F F IC E R S .— Chairman, R osw ell Miller, 42 B roadw ay, New Y ork; P res.,
Albert J, Earling, Chicago; Treas., F G. R anney. Chicago: Gen. M gr., W . J.
Underw ood; S ec., E. W . A dam s, Milwaukee.
Directors— Roswell Miller, New Y ork: A . J. Earling, Chicago; Frederick
L ayton, Milwaukee; J. Ogden A rm our, Chicago; Frank S. B ond, Joseph MI1bank, W illiam R ockefeller Peter Geddes, John A Stewart. Samuel Spencer.
W alter P. Bliss, Charles W . Harkness, H enry H. Rogers, New York.
New York o ffice , 42 B roa d w a y.— (V . 84, p. 1551; V . 85, p. 98.)
CHICAGO & NORTH W ESTERN R Y .— (See M a p .)— Operates an Im
portant system of roads uniting Chicago, 111., with Om aha, N eb ., St. Paul
M inn., with the great wheat belts of D akota, Nebraska, & c., and with th e
mining regions of Michigan and the Black Hills, Including—
Road owned In fee—
M iles. I
M ile t.
M ainlines, & c............................... 7,336 Sundry track age............................
38
Entire stock owned—
Princeton & W estern..................
1(
Total July 1 1906.................... 7,45a
2d tra ck ............................................ 804
St. Paul Eastern Grand Trunk
(leased) ......................................
601 Large Interest owned—
De Pue Land & East, (leased).
3 1Chicago St. Paul Minneapolis &
I O m a h a ........................................ 1,697
H IS T O R Y . & c.— A Vanderbilt line (V . 75, p. 1086) organized In 1850
In July 1884 the capital stock o f the Fremont Elkhorn & Missouri V alley
was acquired, and in Feb. 1903 the road was absorbed. Its securities, e x
cept those held by Chic. & N. W ., are In table above. V . 75. p. 514, 516.
On June 30 1901 purchased Sioux City & Pacific R R . V 72, p. 721, 1238;
V. 73. P. 444; V . 75, p. 446.
In 1900-05 various proprietary roads were purchased. V . 71, p. 291, 294;
V . 73, p. 294, 1010; V. 75, p. 446; V. 81, p. 840. In July 1906 extensions
aggregating 504 miles were under construction, o f which 311 miles were
com pleted in 1906 and 193 during fiscal year 1906-07. V . 83. p. 567.
C A P IT A L S T O C K .— Of the com m on stock. $2,334 003, and o f the pre
ferred $3,835 remained in com pany’s treasury.in July 1906. Pref. stock ha* a
prior right to 7 %; then com m on 7 %; then preferred 3 %; then com m on 3 %;
then both classes share. In 1903 the authorized com m on stock was in
creased from $41,448,366 to $77,601,045. and in Oct. 1906 to S177.604.800
(m aking the entire stock $200,000,000), Stockholders In Feb. 1907 sub
scribed for $24,401,600 com m on stock at par, raising the am ount outstand
ing to $99,618,900. In 1906 the Union Pacific system (Oregon Short Line)
acquired $2,572,000 stock. V . 84, p. 572; V . 75, p. 1085, 1146; V . 77.
p. 576; V . 83, p. 379, 817, 1098; V . 84, p. 157.
’0 0 .
D I V .—•1 ’ 86 to '93. ’94.
'02 to ’05. ’ 06. 1907.
> 6 yearly.
Com
4
5 yearly. 6
7 yearly.
7
3
7
Pref
7 yearly
-8 yearlyIn 1902, on com m on, Jan., 3 %: July, 3 % and 1 % extra; In 1903 to Jan.
1907, 7 % (paid J& J). On p f., Jan., 1 % %; A p r., 1 % %; July, 1 Vx % and
1 % extra: O ct., 2 %; in 1903 to Jan. 1907 incl., 8 % (paid Q .-J .). The extra
divs. of 1 % each on the stocks In July ’02 increased the rate for the fiscal yr.
’ 01-’02 to 7 and 8 % on the com . and pref. stocks respectively. V. 74, p .1194.
BO N D S.— General Mortgage.— See Abstract in V . 65, p. 1175. T he
authorized issue Is $165,000,000 (United States Trust C o., tr u ite e ). $131,645,000 were reserved to retire underlying bonds, and remainder for addi
tions and Improvements, $4,000,000 at once and $1,000,000 a year there
after. V . 65, p. 1070. V . 65, p. 69. I l l , 571; V . 75, p. 980.
39
RAILWAY STOCKS AND BONDS.
J u l y , 1907.J
40
KAILWAY STOCKS AND BONDS.
R A IL R O A D S .
Chicago & North W estern (Continued)
W inona & St Peter 2d m ortgage (now first) assumed
First m ortgage ext gold land giant s f assumedF c*
Plainview R R and Minn Valley first m ortgages____
R och & N or Minn first m ortgage guar (assum ed). .
D ak C 1st M guar (W atertow n to Redfield S D )._ F
D ak C 1st M on Southeast D lv (to Hawarden) g u .U n
Ottum C F & St P 1st M ($25,000 p m) g u a r .. Un.c*
N or 111 1st M ($20,000 per mile) assum ed____ Un.c*
Milw Lake Shore & W consol M (now 1st) gold .C e.c*
Michigan D iv 1st M (for $3,000,000) g o ld ..C e .c *
Ashland Division first m ortgage g o ld ______ Ce.c*
E x t & Im p M for $5,000,000 g s f not draw n.C e.c*
Incom e bonds (not cumulative) no c o u p o n s ___r
Marsh E xt 1st M $600,000 ($15,000 per m) . Un.c*
C & N W s f bonds o f ’79 ($15,000 p m )red at 105 Fcr
Sinking fund debentures 1933___________ Un.c* &r
25-year debentures _____ ____ __________ Un.c*&r
Chicago & North W estern 30-year d eb en . Un.c* &r
Extension 4s $20,000,000 ($20,000 p m )._ Un.c&r
General gold bond M $ 16 5 ,0 0 0 ,0 00 .. ..U s .c * & r
do
do
registered____________________
Branch Line Bonds Assumed.
B oyer Valley R y 1st M g $16,000 per m ile ..F .c * & r
Minn & la R y 1st M gold $16,000 per mile_.F.c*<Scr
Mankato & New Ulm 1st M gold $416,000__F.c*& r
Southern Iow a first m ortgage $1,120,000 g ..F « c * & r
Princeton & Northw 1st M $2,100,000 g o ld .-F .c & r
Peoria & Northwest 1st M $2,125,000 g o ld .F .c& r
S ioux City & Pacific 1st M gold $ 4 ,0 0 0 .0 0 0 ..F .c& r
Minn & So D akota 1st M gold $528,000______ F.c*
$1,000
100 &c
_
__
___
...
1867
1871
1878
1878
1882
1882
1884
1885
1881
1884
1885
1889
1881
1892
1879
1891
1884
1891
1886
1897
1897
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 &c
1 ,000 &c
1,000 &c
1,000 &c
1,000 &c
1000 &c\
1000 & cj
90
119
26
56
105
85
125
33
1898
1899
1899
1900
1901
1901
1901
1900
1,000 &c
1,440,000
1,000 &c
1,904,000
1,000
p416,000
1,000 &c N oneJan’07
1,000 &c n l ,940,000
1,000 &c
2,125,000
1,000 &c 03,926,000
1,000
528,000
139
184
24
71
125
64
76
413
82
40
693
40
1,041
___
In addition sinking fund July 1906 held: a $58,000 ; f $5 21,000
m $694,000 (and $10,201 000 on hand); n$160,000; o $74 ,000;
Total earnings______ .$63,481. 578 $55,745 ,275 $53,334,634 $50,639,142
Oper. exp. and ta x e s.. . 42,216 276 38,649 ,312 37,227,109 33,851,672
Net earnings.............$ 2 1 ,2 6 5 ,3 0 2 $17,095,963 $16,107,525
------------ Years ending June 3 0 ------------1906.
1905.
1904.
Total net receipts_____ .$22,871,382 $18,631,798 $17,596,760
Interest on d eb t______ . 7,845.320
7,988,976
7,971,518
Sinking fund, <fec_____
225,500
225,000
225,500
Dividend on com m on . .(7)4,692,313 (7)3,383,324 (7)3,383,324
Dividend on preferred. .(8)1,791,600 (8)1,791,600 (8)1,791,600
Real estate, con st., &c . 6,000,000
4,600,010
4,000,000
$642,8
$224,818
$523,830
a In addition there were net receipts from lands In 1905-06 o f $367,514;
In 1904-05 o f $295,442; in 1903-04 of $1,174,766; in 1902-03, $722,908.
O F F IC E R S .— Pres., Marvin H ughitt, Chicago; V ice-Pres. and S ec., E. E.
O sborn, 111 B roadw ay, New Y ork; 2d V ice-P res., M. M. K irkm an, C hicago
Treas. and Asst. S ec., R . H. W illiam s. New Y ork.
D irectors.— W . K . V anderbilt, F. W . V anderbilt, H. M cK . T w om b ly,
Samuel F. Barger, Chauncey M. D epew , James Stillm an, James C. F argo,
Frank W ork, N. Y .; Marvin H ughitt, B yron L. Sm ith, Cyrus H. Me
Corm lck Chauncey K eep, Albert K eep, Chicago; H. C. Frick, Pittsburgh,
P a .; David P. K im ball, Oliver A m es. Boston;
Zenas Crane, D alton,
Mass.— (V . 83, p. 1098; V . 84, p. 50, 157, 270, 390, 569, 1113.)
CHICAGO PEORIA & ST. LOUIS R Y .— R O A D .— Owns from Pekin to
Granite C ity, 111., 180 miles; Madison to Bridge J et., 3 m .; H avana to Jack
sonville, 111., 42 m .; branch, Lockhaven to G rafton, 8 m .; total owned,
233 m .; trackage, Pekin to Peoria, 10 m .; Granite C ity, 111., to M erchants’
J e t., 3 m .; In Springfield, 1 )4 m .; M adison, 111., to St. Louis Station, 7 )* m .;
tota l, 255 miles.
Reorganization o f Chicago Peoria & St. L. R R . and St. L. Chic. & St.
Paul R y ., sold in foreclosure Jan. 8 1900, per plan In V ol. 68, p. 722.
The July 1906 cou pon on the consols was paid D ec. 1906 and the Jan. 1907
coupon in June 1907. The July 1907 cou pon was deferred. V . 83, p. 1523;
V . 84, p. 505. F. J. Lism an & Co. requested bondholders to com m unicate
with them , with aview to p rotecting their interests. V . 83, p. 36.
B O N D S .— O f the $2,000,000 prior lien 4 )4 s, $275,000 are reserved for
Im provem ents, &c. S tock, com m on , $3,600,000; p ref., $3,750,000.
E A R N IN G S .— For 6 m onths ending D ec. 31:
6 mos.—■
Gross.
N et.
Interest.
Taxes.
B al., sur.
1906 ___________ $902,389
$171,073
$93,222
$24,000
$53,851
1905 ..................... 882,121
111,398
_______'
....................................
R E P O R T for year to June 30 1906 was in V . 84, p. 505, showing: Gross,
$1,670,072; net, $139,032; other Incom e, $15,500; interest and taxes,
$232,805; balance, deficit, $78,273. Pres., Charles E. K im ball (resigned)
Sec. and Asst. Treas., H. W . Berger, Springfield, 111.; Treas. and Asst. S ec.,
C. M. Gleason, New Y o r k .— (V . 83, p. 1523; V . 84, p. 505, 1551).
CHICAGO ROCK ISLAN D & PACIFIC R A IL R O A D .— Incorporated in
Iow a on July 31 1902 sis an operating com pany, per plan V . 75, p. 239,
to take over The Chic. R . I. & Pac. Railway. The entire capital stock
($145,000,000) is owned by The R ock Island (holding) Com pany.
B O N D S.— The collateral trust 4s o f 2002 (authorized issue $75,000,000)
are secured by a pledge with the trustee of an equal am ount o f the stock of
the C. R . I. & P. Railway as acquired. In July 1906 $69,938,400 o f the
Rate
%
$1,592,000
k4,038,500
250,000
200,000
a l , 007,000
2,000,000
1,600,000
1,500,000
5,000,000
1,281,000
1,000,000
4,148,000
500,000
400,000
12,189,000 5
9,800,000
f5 ,369,000
g9 ,819,000
hl7 489,000
M20271,000 {
1
(and $10 ,000 on han d);
sinking fun d.
p all in
The sinking fund bonds o f 1879 are secured b y deposit in trust o f $15,000.000 of 1st M. bonds at $15,000 per mile on subsidiary lines, the m ost im port
ant being described in "Su pplem ent” o f May 1894. Of the sinking fund
bonds o f 1879 $5,4 88,000 are 6s; the sinking fund is at least 1 % of out
standing bonds, which are subject to call at 105. and through Its operation
the am t.outstanding has been reduced from $15,000,000 to the figure In table.
T he sinking fund debentures o f 1933 have a sinking fund of $200,000 per
year, if they can be redeemed at 105. See description of all the debentures
on page 2, “ Supplem ent” o f April 1895.
T he extension bonds of 1886 are secured b y deposit in trust of first m ortgage
bonds at a rate not exceeding $20,000 per mile. Included in the collateral
July 1 1906 were $10,675,000 Frem ont Elk H orn & Mo. V alley lsts and
$2,560,000 W yom ing Central lsts (consolidated w ith F. E. & M. V .) , &c.
See F. E. & M. V . bonds below.
T h e Fremont Elkhorn & M issouri Valley consols have a first lien on 1,170
miles (Frem ont, N eb ., to D eadw ood, D. T ., 557 miles, and branches to
Hastings A lbion, & c., 613 miles) but besides the am ount o f Issue given as
outstanding In the table $10,675,000 (along with $2,560,000 W yom ing
Central firsts, A . F. E. & M. V . issue) are held as part collateral for Chicago
& N orth W estern extension bonds o f 1886.
G E N E R A L F IN A N C E S .— Stockholders In Feb. 1903 subscribed for
$9,226,110, In J u ly 1905 for $10,609,200,in May 1906 for $16,267,400 and
in Feb. 1907 for $24,401,600 com m on stock at par, the proceeds to be used
for Im provem ents, equipm ent, &c. V . 82, p. 452; V . 83, p. 379, 817, 1098.
N ew term inals in Chicago to cost $20,000,000. V . 83, p. 890, 1036; V . 84,
p. 157.
E A R N IN G S .— For 11 m onths ending May 31: Gross, $62,947,345 In
1906 07, against $57,684,322 in 1905-06.
Statem ent for calendar year was in V . 84, p. 246, showing;
Year.
Gross.
N et.
Charges (n et). Dividends.
B al., Sur.
1906-------- $66,437,599 $21,377,714 $6,127,076 $7,053,346 $8,197,292
18,671,501
6,345,494
5,546,232
6,779,775
1905.......... 59,066,556
R E P O R T .— The annual meeting is held the third Thursday In O ctober.
The report for 1905-06 was given at length in V . 83, p . 559, 565.
Years ending June 30— 1905-06.
1904-05.
1903-04.
1902-03.
Average miles operated.
7,429
7,408
7,404
6,457
Passenger earnings..........$14,441,415 $13,339,714 $13,027,708 $12,161,997
Freight................................ 45,802,853 39,292,830 37,254,539 35,811,008
3,237,310
3,112,731
3,052.387
2,666,137
Mail, express, & c______
Balance, surplus_____ a$2,316.640
IN T E R E S T OR D IV ID E N D S .
M iles Date Size, or
Amount
P ar
of
of
Road. Bonds. Value. Outstanding
F or explanation of column headings, &.C., see notes
on first page of tables.
[V o l . l x x x v .
When
Payable.
7
VS
7
7
6
6
5
5
6 g
6 g
6 g
5 g
6
5
<Sc 6
5
5
5
4
3)4 g
3)4 g
Where Payable, and by
Whom.
M & N Co's O ffice, 111 B ’way N ov 1 1907
J & D
do
do
Dec 1 1916
Semi-an
1908
do
do
M & S
Sept 1 1908
do
do
M & S
do
Sept 1 1907
do
M & N
N ov 1 1907
do
do
M & S
do
Mar 1 1909
do
M & S
do
Mar 1 1910
do
M & N
do
do
May 1 1921
do
J & J
do
July 1 1924
M & s
.Mar 1 1925
do
do
F & A
do
do
Feb 1 1929
M & N
do
do
May 1 1911
A & O
do
do
Oct 1 1922
A & O
do
do
Oct 1 1929
M & N
do
do
May 1 1933
M & N
do
do
N ov 1 1909
A 15 & O
do
do
April 15 1921
F 15 & A
do
do
Aue 15 1926
M & N
do
do
N ov 1 1987
do
do
N ov 1 1987
3—
J & D
J
& D
A & O
M & S
& J
J
M & s
gF & A
& J
3 )i g J
do
do
do
do
do
do
do
do
e $l 81,000:
h $1,143,000;
3)4
3)4
3 54
3)4
3)4
3)4
Bonds— P rinci
pal, When Due
Stocks— Last
Dividend
g
g
g
g
g
g
do
do
do
do
do
do
do
do
D ec
June
Oct
Sept
Jan
Mar
Aug
Jan
1
1
1
1
1
1
1
1
1923
1924
1929
1925
1926
1926
1936
1935
k $202,50 0 ;
$74,847,600 Railway stock had been acquired. In 1906 $17,342,580 of an
authorized Issue of $18,500,000 collateral trust 5s o f 1913 had been Issued
with R ock Island Co. stock In paym ent for $28,904,300 o f the $29,000,000
St. Louis & San Francisco com . stock. V . 76, p. 1406. R eport for year
ending June 30 1906, was in V . 83, p. 1094, showing: Total incom e,
$4,390,612; expenses, $1,817; int. on bonds, $3,664,441; divs. to
R ock
Island C o., $500,000; bal., sur. for year. $224,354.— (V. 83, p. 1094.)
CHICAGO ROCK ISLAN D & PACIFIC R Y .— (See M ap Rock Island C o.,
pages 116 and 117.)— The system extends from Chicago, 111., via Om aha,
N eb., to Denver and Colorado Springs, C ol., and via Kansas City, M o., to
Santa Rosa, New M ex., there connecting with the lines o f the New M exico
R y. and Coal Co. and form ing with them and the Southern Pacific a through
line to the Pacific Coast; also from Tucum cari, N. M ., to Memphis, T en n .,
and to Fort W orth, T e x ., on the south, and on the north to Minneapolis,
Minn., and W atertown, S. D ak., with numerous branches, viz. (see V. 75,
p. 1156; V. 76. p. 751:
Mileage owned—■
M iles.
Mileage leased—
M iles
Chic., 111., to Color. S p ’gs, C ol.1,064 Keokuk & Des M oines*_______
162
Davenport la ., to Terral, I. T_ 712 Peoria & Bureau V alley*______
47
H erington, K an., to T exhom a,
W hite & Black R iver V a lle y * ..
62
O. T _____________________ 323
Little R ock & Hot Springs
Burl’g t’n, la .,t o Mlnn’ap.,M inn 308
W e ste rn * ____________________
23
V in ton , la ., to W atert’n, S. D_
R ock isl. Ark. & L o u is ia n a ..< . 160
Branch lines_________ _______ ___ 2,149
454
4,932 Trackage to St. Louis, Denver,
Capital stock all owned—
P ueblo, & c___________________ 560
Choc. Okla. & Gulf (le a s e d )* .. 981 Other lines under con struction. 273
Chic. R . I. & El P aso__________ 112
Chic. R . I. & G u lf______________ 387 T otal mileage oper. and under
S t. Louis K . C. & C ol_________ 299
construction June 30 1906___7,998
1,779
*See these com panies.
Branch from Little R o ck , A rk ., southeast to Crossett, with branch to
E ldorado, 144 miles, was com pleted Jan. 1907 under charter o f R. I. Ark.
& Louisiana R R ., connecting with the line from E ldorado, A rk ., to Winnfieid, L a., 100 m ., acquired in Sept. 1905: extension being built from W iunfield to Alexandria, L a., 44 ^ m .; also from A lexandria to Eunice, A la.,
55 miles, at a con nection with St. Louis & San Fran, line, now building.
T he road is leased for 999 years. The charter perm its the construction o f a
through line from L ittle R ock to New Orleans. See V . 81, p. 1551; V . 82,
p . 99, 870, and bonds below ; also R o ck Island Co.
The R ock Island interests in April 1906 acquired a half Interest in the
T rinity & Brazos V alley R y ., owning a line from Cleburne to H ouston, T e x .,
236 m iles, with branch to W axahachie, 70 miles, and trackage rights from
Cleburne to Fort Sm ith, W axahachie, to Dallas and H ouston to Galveston.
V . 82, p. 870.
H IS T O R Y .— A consolidation June 2 1880 with $50,000,000 stock.
In O ct. 1906 $69,938,400 o f the $74,847,600 capital stock had been de
posited per plan V. 75, p. 239, each $100 stock being exchanged for the fo l
lowing securities: $100 in 100-year 4 % gold bonds o f the Chic. R . I. &
Pac. Railroad (o f Iowa) and $70 preferred and $100 com m on stock o f the
“ R ock Island C om pany” (of New Jersey), which owns the entire capital
stock of the Railroad com pany. See statements for those com panies.
The Union Pacific interests. Jointly with the Ch. R . I. & P a c., control
the Chicago & A lton R y ., the C. R . I .& P. owning $14,320,000 com . and
$4,870,000 pref. stock. V . 79, p. 1462, 2206; V . 80, p. 472; V . 81, p. 1258.
In 1902 m ost o f the stock of the Burlington Cedar Rapids & Nor. and
R ock Isl. & Peoria was acquired, and their roads leased from June 1 and
subsequently deeded to the C. R . I. & P. V . 74. p. 1194, 1250. F riendly
interests control Dering Coal Co. and Consolidated Indiana Coal Co. V . 82.
p. 452; V . 80, p. 2401 , 2632.
D I V I D ’S 1’ 95. ’ 96. ’97. ’ 98. ’ 99 to ’ 02. ’ 03. ’04. ’ 05. ’06.
1907.
s in ce ’93, p.c.J 2
2 2)4 4)4 5 yearly. 7)4 8 )£ 6)4
6 Inc. J u ly 3 J 4
In 1906 J an ., 1 ) 4 % from earnings o f five m os., April, 1 )4 % ; J u ly , 1 % ;
O ct., 2 % ; in 1907, Jan ., 1 % ; A pril. 1 y .% ; July, 1 % .
Special distributions to stockholders, Including $1 63 per share June 17
1905, see V . 80. p. 2398.
B O N D S .— Of the general 4s o f 1898 those unissued are available as fo l
lows: $23,900,000 at not over $1,000,000 per annum for perm anent Im
provem ents and additions, including equipm ent, and $ 12,500,000 to retire
the first 6s o f 1917. M ortgage, Abstract in V . 66, p. 522; V . 78, p. 228;
V . 80, p. 472.
The collateral trust gold 4s o f 1902 ($24,000,000 authorized) are secured
b y deposit o f all the stock o f the Choctaw Oklahoma & Gulf R R . (see that
com p any.)
V . 74, p. 775, 829, 936, 1356.
The refunding 4 % bonds o f 1904 ($163,000,000 authorized Issue) are a
first lien (either directly or through pledge of the entire issues of bonds of
the com panies owning the same) on terminal property In St. Paul, M inne
apolis and St. Louis, new equipm ent, and shops at Moline, 111., and on rail
way lines aggregating 1,148 miles: also a junior Hen subject to existing
mortgages on all the other lines o f the system o f the Railway com p a n y, ag
gregating, exclusive o f leased lines and trackage, 5.659 miles. See General
Finances below: also “ Chronicle” o f Jan. 28 1905: and full statem ent In
V . 78, p. 2 28. 234; V . 79, p. 1716, 2206; V. 84. p. 219; V. 8!>, p. <)8. T hey
are issuable as follows:
Issuable forthw ith (com pare “ General Finances” b e lo w )_____ $15,000,000
Issued or Issuable to an am ount equal to the value of bonds so
Issued, to acquire property. Including stocks and b on d s_____ 25,000,000
Reserved to retlie at or before m aturity all bonds of the railway
system falling due within the next 30 years (none of such
underlying bonds to be e x te n d e d ), also to acquire $25,900,000
general 4s o f 1898, Issuable for Im provem ents, viz.:
Bonds to Be Taken U p —
C hicago R ock Island & Pacific R y . gen. m ort. 4s
hereafter to be issued, viz.:
(a) T o retire at m aturity 1st 6s o f 1917__________ $12,500,000
(b) At not exceeding $1,000,000 per year for ad
ditions and im provem ents.................. ................... 25.900 000
ussirpr
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RAILWAY STOCKS AND BONDS.
ya a ossm
| IlV 3 ti9
j
1
f
j
41
42
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, A c ., see notes
on first page of tables.
Size, or
M iles Date
Amount
Par
of
of
Road. Bonds. Value. Outstanding
Chicago & North W estern— (Concluded)
Iow a Minnesota & Northwestern 1st M g o ld .F .c* &r
195
Frem Elk & M V cons M $25,000 per mile assumed 1,170
Chicago Peoria & St L— Pr lien M g call at 107 H -T a.c*
230
230
Consol M $2,000,000 gold call at 1 0 5 _______ Ta.c*
Incom e M gold (text) non-cum call at p a r ______ EC
230
___
Chic R I & Pac RR— Col tr M $75,000,000..C e .c* & r
___
Collateral trust M $18,500,000 gold red 102 a ..C e .c*
___
C hicago Rock Isl & Pacific Ry— Stock ($75,000,000)
1st M Chic, 111, to Council Bluffs & b ra n ch es..U s.c*
704
General m ortgage $100,000,000 g o l d .B a ...........c*& r 3,260
___
Collat tr M g Ser F to P due yearly red 101 H . -Ce.c*
R ef M $163,000,000 gold red 105 to 1911 ..C e .c* & r Text.
___
N otes secured b y $11,250,000 ref bonds, red at 102
___
Gold cou p notes red sec b y R T A rk & L b o n d s ..B a
C R ap I F & N W 1st M gold gu ar___________ Ce.c
292
B C R & Nor cons 1st M g o ld __________
. _Ce.c*&r 1,291
12
Minneapolis & St Louis 1st M gold (assum ed)____Ce
R ock Island & Peoria con 1st M (V .75,p .3 0 )____ Mp
113
378
Choc O & G general (now 1st) M $5,500,000 g ___c*
Choc & Mem 1st M $3,750,000 assum ed__ GP.c&r
282
L R ock Bridge 1st M assumed gold red (text) GPc*
Consol M (see text) $30,000,000 g o ld ......... GP.c* 1,018
___
Car trusts Series B due sem i-annually______ GP
___
Car trust Series C April yearly beginning 1903 GP
___
R ock Isl Ark & Louis 1st M $15,000,000 gold ___Ba
___
R ock Island-’ Frisco Term 1st M g guar jo in tly , .c *
___
Peoria R y Term 1st M g gu join tly re d --------------Ic
___
E quipm ent notes, due $325,000 sem i-an_________Ba
___
Chic & R I Elev M gold guar p & 1 redeem at par ..c *
___
Consol In d Coal 1st M g Int gu red 110 s f_ G .c* & r
C hicago St Louis & New Orleans— See Illinois Central
___
C hicago St Paul Minn & Omaha— Com m on s to c k ____
___
Preferred stock non-cum Including scrip (see text)
21
St Paul Stillwater & Taylors’ Falls first m o rtg a g e ..c
12
H udson & R iver Falls 1st M Hudson to R iver F alls.c
177
Ch St P & Minn 1st M gold E lroy to L St C ass’ d .. c *
607
St P & S ioux City 1st M gold $10,000 per m ile ..C e .c
80
Nor W ls 1st M Lake St C to near Spooner, ass’ d Ce.c*
1900
1883
1900
1900
1900
1902
1903
1877
1898
1902
1904
1904
1906
1881
1884
1877
1885
1894
1899
1899
1902
1901
1902
1906
1907
1907
1907
1904
1905
_
__
1878
1878
1878
1879
1880
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
Bonds— Princi
pal, When D u er
Stocks— Last
Dividend.
81,000&c $3,900,000
& J C o’s O ffice, H I B ’y , N Y Jan 1 19C5
3H g J
1,000
6
A & O
7,725,000
do
do
Oct 1 1933
1,000
1,725,000
do
do
Mar 1 1930
4H g M & s
1,000
J
& J July ’07 cp not pd wh due July 1 1930
2,000,000
5 g
1,000
2,000,000 Up to 5 % when earned
July 1 1930
M & N First Nat Bank, N Y
1,000 &c 70,067,000
N ov 1 2002
4 g
M & S
1,000 17,395,280
do
do
Sept 1 1913
5 g
100 74,854,100 See text. Quar. Office, 115 B’ w ay, N Y July 1 ’07 1
J & J First National B k, N Y
1,000 &c 12,500,000
6
July 1 1917
1,000 &c 61,581.000
J & J
do
do
Jan 1 1988
4 g
M & N
1,000 16,434,000
do
do
May 1908-19184 g
A & O
1,000 &c 66,851,000
do
do
April 1 1934
4 g
7,500,000
J
do
do
& J
July 1 1907
4H
1,000
6,000,000
4H g A & O N Y , Speyer & Co
April 1 1908
1,000
A & o First N at B k, New York Oct 1 1921
1,905,000
5 g
A & o
1,000 &c 11,000,000
do
do
5 g
April 1 1934
500
150,000
J & D
do
do
June 1 1927
7e
5,000
450,000
6
J
do
do
& J
July 1 1925
1,000
5,500,000
J
& J
5 g
do
do & Phila Oct 1 1919
1,000
3,525,000
J & J
do
do
Jan 1 1949
5 g
1,000
295,000
J & J
do
do & Phila July 1 1919
6 g
1,000
5,411,000
M & N
do
do do May 1 1952
5 g
1,000
150,000
F & A
do
do do T o A ug 1908
5 g
1,000
660,000
4H g A & o
do
do do April 1908-1910
See text.
J & J ...............................................Jan 1 1956
4 g
1,000
& J New Y ork and St Louis Jan 1 1927
3,000,000
J
5g
1,000
J
& J New Y ork
Ijan 1 1937
(?)
4 g
4 y2 F & A
1,000
6,175,000
Feb ’08-Feb ’ 17
1,000
950,000
A & 0 First Tr & Sav B k, Chic Oct 1 1924
5 g
1,000
2,773,000
J
& D Guaranty Trust Co, N YlJune 1 1935
5 g
100 18,558,953 7 In 1906 F
100 11,259,911 7 In 1906 F
500 &c
334,800
7
J
500 &c
125,000
8
J
500 &C, 1,514,000
M
6 g
1,000'
6,070,000
A
6 g
1,000
641,000
6
J
CHICAGO ROCK ISLA N D & PACIFIC R Y . (C oncluded).
Burlington Cedar Rapids & N orthern R y . Co. cons.
5s. Issued or hereafter to be Issued to retire:
(a) B. C. R . & N . R y . 1st m ortgage 5s o f 1906___$6,500,000
(b) C ed.R ap. Ia. Falls & N . 1st m ort. 5s of 1921. 1,905,000
Choctaw Oklahom a & Gulf R R . (see that Co.) con
sol. 5s, hereafter to be Issued to retire $5,500,000
C. O. & G. R R . general m ort. 5s o f 1919_________ 5,500,000
Chicago R ock Island & P ac. R y . gold 4s o f 1902
(Choctaw Oklahom a <fc Gulf stock collateral)____ 22,410,000
6 % notes o f D . R . Francis, e tc., paid Jan. 1 1 9 0 5 .. 4,500,000
R o ck Island & Peo. R y.C o. coa sol. m ort. 6s of 1925
450,000
C hoc. Okla. & Gulf R R . equip, trust certificates___ 2,360,000
------------------ $82,025,000
Reserved to provide 75 % o f purchase price o f securities of
other com panies hereafter acquired___________________________ 13,500,000
Reserved to be issued at not over $2,500,000 yearly from Jan. 1
1904 for future im provem ents and equipm ent________________ 27,475,000
Of the $66,851,000 refund. 4s dated 1904 outstanding in July 1907, $21 ,451,000 were issued for refunding purposes, $15,000,000 to reim burse the
treasury, $20,400,000 for acquisition o f property or securities and $10,000,000 for im provem ents. O f the remaining $96,149,000 bonds authorized,
$60,574,000 are reserved for underlying„bonds, #13,500,000 to pay for 75%
o f the purchase price o f bonds o f other com panies, and the balance for im
provem ents and acquisitions o f other properties or securities as prescribed
in the m ortgage.
Peoria R y . Term . 1st 4s ($1,500,000 authorized issue),
guaranteed join tly with Chic. & A lton , are subject to call at 102)4 after ten
years. V . 85, p. 159.
As to Chic. R . I. & P ac. Elevator m tg e., see V . 79, p. 2590; V .8 2 , p .750.
As to Consol. Indiana Coal 5s. Interest gu ar., see V. 80. p. 2401. 2623;
form of guaranty, V . 82, p. 1499. R ock Island-Frisco Terminal R y . 5s,
guaranteed join tly , V . 84, p. 569, 748.
In April 1906 $6,000,000 o f 4 H % notes were sold, secured b y deposit of
$7,500,000 R ock Island A rk. & La. 1st 4s, the latter being a lien on 257
miles o f road and equipm ent. See above and V . 82, p. 803, 101.
G E N E R A L F IN A N C E S .— Jan. 1906 $11,784,000 additional refund. 4s
were issued, o f which $7,534,000 for im provem ents and equipment and bal
ance to retire underlying bonds; in July 1906 $6,970,000 for equipm ent and
underlying bonds; in Dec. $10,000,000, o f which $5,900,000 for equipment
and $2,500,000 for im provem ents; in May 1007 $10,000,000, o f which part
to retire the $7,500,000 notes due July 1 1907. remainder for im p rovem ’ts.
V . 80, p. 1423; V . 82, p. 280, 750; V . 84, p. 219, 1247; V. 85, p. 98.
In Feb. 1907, $6,250,000 4 H % equipm ent notes were sold. V . 84, p .338.
L A T E S T E A R N IN G S .— j 1906-07-G ross, $54,880,855; net, $16,169,283
11 m os., July 1 to May 3 1.11905-06.Gross. 47,062,537; net, 13,398,496
R E P O R T .— R eport for 1905-06. V . 83. p. 748. 760; see also editorial,
p . 726. Balance sheet A pr. 30 1907, V . 85, p. 95.
1903-04.
Year ending June 30—
1905-06.
1904-05.
7,232
7,205
Miles o p e ra te d .. ____________ ____
7,218
$11,697,033
Passenger earnings................ .. ...$ 1 3 ,9 1 7 ,0 3 1
$12,050,781
31,167,006
Freight earnings_____ ________ . . . 34,695,824
29,662,386
Mall, express, rentals, & c____ ____ 2,625,003
2,338,342
2,105,452
Gross earnings......................... ____$51,237,858
Net e a rn in g s_________________ ...$ 1 6 ,1 7 0 ,8 0 0
Other incom e_________________ ____ 1,015,837
$44,051,509
$12,993,300
1,526,172
$44,969,491
$13,194,598
1,333,833
Total In com e.............. ............. ____$17,186,637
T a xes_________________________
. . $1,631,890
Interest and rentals__________
8,747,017
Im provem ents leased lin es___ ____
21,897
D ividends_____________________
4,677,553
$14,519,472
$1 ,609,989
8,176,373
$14,528,431
$1,437,578
7,062,655
4,676,622
5,985,060
B a la n c e ............................................. $2,108,280
$56,487
$43,138
O F F IC E R S .— Chairman o f Board, D. G. Reid; Chairman o f E xecutive
Com m ittee, B. F. Yoakum; President, B. L. WInchell; Vice-President, R . A .
Jackson; Asst. Sec. and Asst. Treas., Geo. T . Boggs; 2d V ice-Pres., H. U.
Mudge; 3d V ice-P res.. W . B. Biddle; 4th V ice-P res., C. W . Hillard; 5th
V ice-P res., E. L. P ollock; Sec. and Treas.. George H. Crosby. N. Y . O f
fice, 115 B roadw ay.— (V. 84, p. 1306; V. 85, p. 95, 98, 159.)
CHICAGO ST. PAUL M INNEAPOLIS & OM AHA R Y .— (See M a p Chi
cago & North Western.)— R O A D .— E lroy, W is., to Omaha, N eb., 593 miles:
other lines, 1,104 m .; total, July 1 1906, 1,697 miles, o f which 1,628 are
owned and 69 miles leased. V. 69, p. 1147. Extension from Hartington to
C rofton, N eb., 15 miles, was com pleted Oct. 1906. Extension from
New Castle, N eb., to W yn ot, 18 miles, was under construction In April 1907.
H IS T O R Y .— This was a consolidation July 1880 o f the Chicago St. Paul
& Minneapolis, the N orth W isconsin and the St. Paul & Sioux City.
In N ovem ber 1883 Chicago & North W estern R y . purchased con trol,
v iz ., $9,320,000 com m on and $5,380,000 preferred.
ST O C K .— A uthorized com m on, $21,403,293; preferred, $12,646,833.
Held b y the com pany June 30 1906, com m on stock and scrip, $2,844,340;
preferred stock and scrip, $1,386,921.
Preferred stock has a prior right
to non-cum . dividend o f 7 % ; but com . Is never to receive more than pref.
D IV S . 1'91 ’ 92 ’ 93 to ’ 96 ’ 97 ’ 98 ’ 99 ’00 ’ 01 ’ 02 ’ 03 '04 ’05 ’06 1907
Com.
N one.
2 2 3K 5 5 8 6
6 7
7 Feb 3 M
P r e f.% J 4 6 ^ Since 7 per a n n .(3 H F .& A .)--------------------------------------------B O N D S.— There are $75,000 Minneapolis Eastern 1st M. guar. 7s due
Jan. 1 1909; $1,500,000 Superior Short Line R y . bonds are owned. Chicago
St. Paul & Minneapolis 1st 6s, due 1918, and N orth W isconsin 1st 6s, due
1930, are exchangeable at option of holder at any tim e, dollar for dollar, for
consol. 6s of 1880, due 1930. V . 68, p. 521; V . 77. p. 2389.
L A T E S T E A R N IN G S .— From July 1 to May 31 (11 m on th s), gross,
$12,886,858 in 1906-07, $11,859,575 in 1905-06. Calendar year 1906, gross,
$13,417,884, against $12,390,070 in 1905; net, $4,415,367, against $4,315,041.
[V o l . l x x x y .
&
&
&
&
&
&
&
A O ffice, i l l
A
do
J
do
J
do
N
do
O
do
J
do
B ’w ay. N Y Feb 20
do
Feb 20
do
|Jan 1
do
July 1
do
May 1
do
April 1
do
Jan 1
1907 3 W
1907 3 W
1908
1908
1918
1919
1930
R E P O R T .— Year ends June 30.
R eport for 1906, V . 83, p. 622.
1906.
1905.
1904.
Gross earnings......................................$12,943,750 $11,926,000 $11,438,292
7,676.528
7,435,860
Operating expenses and taxes.......... 8,310,945
Net e a rn in g s ___________________ $4,632,806
Net rentals paid .................................
123,499
Net Int. on debt (less other Income)
1,491,166
Dividend on preferred s to ck ............ (7)787,976
Dividend on com m on s to ck ..............(7)1,298,885
A ppropriation for Im provem en ts..
600,000
$4,249,472
$4,002,432
124,2761
1,484,066/
1,602,439
(7)787,976
(7)787,976
(7)1,298,885 (7)1,113,330
400,000
500,060
d e f.$1,313Surplus of R R . C o . . _____ ________ sur.$331.280 sur.$154,269
Net from land sales_______________
$76,142
$71,197
(?)
— (V . 81, p. 974, 1038, 1375; V . 83, p. 622; V . 84, p. 507, 1113.)
CHICAGO SU B W AY CO.— Incorporated in New Jersey on N ov. 21 1904,
Has acquired over 9 9 % % of the $80,000,000 Illinois Tunnel Co. stock,
which com pleted A ug. 1906 45 miles o f narrow-gauge electric tunnel rallroa*}
for the transfer of freight from the various railroad terminals to the dow n
tow n business district and proposes to develop and extend the system . Con
trolled b y interests identified with the leading railroads entering Chicago.
A lso owns entire stock of Illinois Telephone Construction C o., the Tunnel
C o., which Jan. 1907 sold entire telephone equipment to syndicate repre
senting Chicago & W estern Telephone Co. for $1,500,000, and agreed to In
crease system to 20,000 telephones In 1907 and add 10,000 yearly until 100,000 are in use; also to pay annual rental o f $5 for each telephone in service.
V . 83, p. 1018; V . 84, p. 220, 341. A lso owns entire stock Chic. W arehouse &
Terminal Co. V . 79, p. 2794, 2588, 2455, 501; V . 78, p. 820; V . 80, p. 163,
600. Governm ent mail contract, V . 80, p. 1110; V . 81, p. 613; V . 83, p.
212. T ax decision, V . 82, p. 1040.
Stock authorized, $50,000,000, o f which $10,000,000 to remain In the
treasury; par of shares, $100. Bonds, see table above. V. 80, p. 163.
The $5,500,000 loan obtained for construction work secured b y $7,000,000
Illinois Tunnel 5s, not Included in the $17,000,000 outstanding as a bov e,
will m ature Dec. 1907. V . 82, p. 927; V.*83, p. 817. An additional long
term loan of $4,000,008 at 6% was reported to have been obtained 1* June
1907. V . 84, p. 1427. Gross earns. 1906 (partial operation o n ly ), $221,176; V . 84, p. 162. Directors o f Illinois Tunnel Co. now include presidents
o f St. Paul, Atchison, R ock Island, A lton , Erie, C. B. & Q ., Union Pacific,
J. Ogden A rm our, &e. V. 79, p. 2796; V . 84, p. 1427. P res., Samuel!
M cR oberts.— (V . 84, p. 220. 1366, 1427.)
CHICAGO TE RM IN A L TRAN SFER CO.— P R O P E R T Y consists Of
passenger and freight terminals In city of Chicago, lines o f railway leading
thereto, and a belt line around the city . C om pany owns 760 acres o f land In.
and adjacent to the City, of which 50 acres are In the center of the business
district; also Includes 7,500 feet o f dock property on Chicago R iver. Nearly
all land, including that upon which tracks nave been built, is owned In fee.
Track ow ned, 84 m .; leases from Chicago Junction R y ., 11 m .; trackage.7 m .;
tota l, 101 m .; 2nd track, 58 m .; sidings. 117 m .; total all tracks, 277 miles.
H I S T O R Y . — A reorganization In June 1897 of Chicago & Northern Pacific
and Chicaeo & Calumet Terminal, plan V. 64, p. 888, 898.
On April 16 1907 the lower court granted the petition o f the Balt. & Ohio
for permission to pay off the $15,140,000 first m ortgage bonds which were
called for paym ent on May 3 1907, the holders to receive the am ount found
to be due under the decree with interest from the date o f the latter (Feb. 20
1907) to May 3. The foreclosure sale, which had been set for May 3, was
enjoined to enable the stockholders to test the validity of the B. & O. lease.
V . 84, p. 930, 867, 1182.
Minority stockholders’ com m ittee (Geo. L. M alcolm , Chairman; H . S.
M ott, Secretary). V . 84, p. 867.
On May 14 1906 $3,500,000 o f receiver's gold certificates were au
thorized to provide for elevation o f tracks; none issued to June4 1907. T hey
are to be a lien prior to m ort. o f 1897 and payable on dem and. V .8 2 ,p .1155.
T E N A N T S .— Balt. & Ohio, Chicago Great W estern, Chicago Junction
Pere Marquette (the last nam ed since D ec. 1903). See V . 77, p. 948,
2158; V . 79, p. 901. Minimum rentals receivable from tenants am ount
to $513,500 annually. See V . 79, p. 2084.
S E C U R IT IE S . — Stock.— $13,000,000 com. and $17,000,000 4 % noncum . pref. O f the $16,500,000 50-year 1st 4s, $1,305,000 were reserved
to retire assumed bonds. V . 79, p. 901. See above.
L A T E S T E A R N S .— 11 m o s.J 1906-07____Gross, $1,574,258; n et,600,679
July 1 to May 31.
\l905-06____ Gross, 1,585,690; n e t,552,423
R E P O R T .— R eport ror year ending June 30 1906 given In V . 83, p. 816,
shows, gross, $1,761,832; net, after deducting taxes, $478,129; Interest
$657,800; b a l., d e f., $179,671.
Pres, and Gen. M gr., J. N. Faithorn, C hicago, 111.; Sec. and A sst. T reas.,
W . T . W isner 2d, 28 Nassau S t., N . Y . Directors May 1907, V . 84, p. 1307
— (V. 84, p. 1182, 1307.)
CHICAGO & W ESTERN IN D IA N A R R .— Owns a valuable term inal
system o f roads affording entrance Into Chicago to the roads named b e lo w .
Its lines extend from Dearborn S tation, Polk S t., Chicago, to D olton, 17 m . ,
also to Indiana State line, 10 m ., to Cragln, 16 m ., and to South Chicago, 5
m .; tota l, 48 m .; total track, Including 2d, 3d, 4th tracks and sidings, 260
m .; also owns over 1,000 acres o f real estate, passenger and freight yards,
warehouses, elevators, &c. The Belt R y . o f Chicago leases and operate*
82 miles o f the 260 miles owned b y the Ch. & W . I ., Its securities being all
held b y the com panies leasing the Chicago & W . I .; see V . 60, p. 1058.
L E A S E S .— This com p a n y’s road and terminals are leased under perpetual
contracts to the W abash, the Grand Trunk W est., the Chicago & Eastern
Illinois, the Chicago & Erie and the Chicago Indianapolis & Louisville, each
o f which five com panies owns $1,000,000 stock. They are also leased to
the A tchison , the Elgin Joliet & Eastern and Belt R y . Annual rental must
always exceed at least 20% Int. on bonds outstanding. V . 78, p. 819.
D IV ID E N D S .—
1 ’8 5 . ’96. ’97. ’ 98. '99. ’00 to ’ 06.
1907.
Per ce n t-----------------------------J7M 6
6
6
6
6 yea rly. I n d .J l y . 4 H -
RAILWAY STOCKS AND BONDS.
J u l y , 1907.j
4*
Alm a
s o j Greenville''
Grand Rapids;
Flint
»J )u ra n d
Holland
W oodbury,
LANSING-
H ow ell
-Monteith
iAllegan'
P o n tia e
Eatoo-R apids
South H aven1
Augusta
X y R ives'Jc.
\
<Battle Creek
Kalamazoj
/
H am burg Jc . \
^ _ _ S ,
frtford'
& y m o u th
^ ------ -
/
Jackson
.
o°\ - - - - Ypsilanti
St. Joseph,^ vs£
V icksburg
H om er
Manchester
Tecunlseh
Jonesvilley/
: CHICAGO
-Dundee
Adrian
Bankers
Niles
Mi hi roe
M ic h ig a n C:
South Bend^
(Lakeville
W 'olcottvilie
/
LaJ^iTja
W alkerton
T’
Steuben
Plym outh
K outs
W ilders
M ontpelier
Butler
Judson
Bow ling Green,
'N apoleon
I>efianc(
B u rg oon V /
iM om ence,
Deshler
Shelby
■Rochester,
\l / \
___F,ostoria
\ Tiffin
Findlay
Monon
Reynolds]
*
WABASH
/ o-J^^Carey \
A'\
U pper Sandusky.
Kenton
K okom o
.Lafayette
A ttica
L M a tth e w s^
Frankfort
Moblesviile
Veedersuur
:Crawfordsvill(
Anderson
Urbana
Greenville
Ne\\\ Castle;
’'XA.reanum
•rV Guion
.Springfield
Richn)ond-\,Si
3__
---- \
C am bridge Cy
INDIANAPOLIS'
Greencastle
Kushville
ConnersvillJ
Centre Point
W ashington^
Gosport
<Stokes
Greensburg
Sullivan
G reenfield
Colum bus'
zY W orthington
/
4\
Swjitz^City
^"(M ilford
H illsboro
^ m 'C I N.N ATI
.North V ernon
'Ne\\?jWt\
‘S eym our
B edford
W alton
nion
Madison
Orleans
Falm outh
Marysville
p Jasper
'Huutingburf
.New A lbany \
t O U i s v iL L /E ^ f
L in coln City
j
—
M A P o r THE
Cincinnati, Bluffton & Chicago
Railroad Company.
44
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, &.C., see notes
on first page of tables.
M iles Date
of
of i
Road. Bonds.
Size, or
Amount
Par
Value. Outstanding
[V o l . l x x x y .
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
Bonds— P rin ci
pal, When Due
Stocks— Last
Dividend.
Chicago St Paul Minn & Omaha— (Concluded)
5
Sault Ste Marie & Southwestern 1st M assum ed____c
37 1890
$1,000
M & N Office 111 B ’w ay, N . Y N ov 1 1915
$350,000
6
C S t P M & O m ort 530,000,000 ($15,000 p m ).C e.c*
1880
June 1 1930
J
& D
do
do
1,000 15,058,000
do
do
consols interest red u ced ____ | ___ 1880
June 1 1930
do
do
1,000
3,265,000
3>* J & D
C hicago Southern— See Southern Indiana.
Chicago Sub— 111 T 1st M $30,000,000 g , red 1 0 5 .EC|
40 1903
1,000 17,000,000
J & D First Nat B k, N Y ; & Chic D ec 1 1928
5 g
Chicago D ock M assumed red 105 (V 68, p 3 3 3 ) ..
___ 1899
A & O Northern Tr Co, Chicago 1929
665,000
4 g
N otes secured b y 2d M Chic D ock due $333,750 yrlyj
___
4
J & J ..........................................
July 1 1908 0 »
667,500
C hicago Term Tr RR— Ch & Gt W 1st M gold ass’ d - .c * j
1886
June 1 1936
1 000
394,000
J & D Mercantile Trust, N Y
5 g
5
City o f Chicago purchase m oney m ortgage assumed j
___
650,000
M & N T o City o f Chicago
M ay 1 1938
See text
R eceiver s certs $3,500,000 authorized gold _________
___ 1906
1,000 N oneD ec 07
M & N |........... ............................
Chic Term T r 1st M called for paym ent— t e x t______ !
91 1897
J
& J See text
1,000 15,140,000
See text.
4 g
Chicago & Western Indiana— S tock (see t e x t ) ______ | ___
100
Q— J Chicago
6
July 1 07 1 Vi
5.000,000
General mortgage gold sink fund subj to call 105.. c * !
48 89-92
8,658,667
1,000
Q— M J P Morgan & Co, N Y Dec 1 1932
6 g
J
& J ill Tr & S Bk, Chic; A N Y July 1 1952
C onsolidated m ortgage $50,000,000 gold ._IC .c*& r'
___ 1902 1,000 &c 18,092,000
4 g
Coll notes, secured b y bonds red p a r___________ ICi
___ 1907 1,000 &c
8,000,000
F & A;111 Tr & Sav B k, Chicago Feb 1 1910
5 g
Chicago & W est Michigan— See Pere Marquette R R j
Chicago W isconsin & Minnesota— See W isconsin Centl
Chihuahua & Pacific— 1st M $2,000,000 g o ld _____Ma
125 1899
1,000
2,000,000
M & N Office, 80 Broadw ay,N Y May 1 1949
5 g
Choctaw & Memphis— See Chic R ock Isl & Pac R y .
C hoctaw Okla & Gulf RR— See Chic R I & Pac R y.
Cincinnati Bluff ton & Chicago— 1st M $1,500,000 g.c*
___ 1903
600,000
M & S Title Guar & Tr Co, N Y Sept 1 1933
1,000
5 g
Cincinnati Dayton & Ironton— See Cincin Ham & Day
1,000
1,150,000
M &
Trust Co o f A m er, N Y N ov 1 1923
Cincinnati Find & Ft W — 1st M gold guar end red.N.C* i
92 1903
4 g
Cincinnati Hamilton & Dayton— Comm on s tock _____ I ___
100
8,000,000 See text. T ext.
Cincinnati
D ec 24 1903 2 %
511,830
6
R eceiver’s certificates (see text) extended red p a r. I ___ 1906
July 1 1908
6
51 1,830
do
do
do
extended red p a r ..
___ 1906
July 1 1908
Second (now first) m ortgage g o ld ________________c*
59 1887
1,000
2,000,000
P Morgan & Co, N
Jan 1 1937
4 }■£ g
do
General m ortgage $7,800,000 g o ld .................... Me.c*{
1,000
3,000,000
do
59 1892
June 1 1942
5 g
do
1,000
95 1892
1 .200,000
4
April 1 1942
Cincinnati D a yton & Chicago first m ortgage______ I
Ol
do
1,000
do
Cincin D ay & Ironton 1st M g guar (assumed) .C e.c* 1
167 1891
3,500,000
May 1 1941
N
do
5 g
Refunding m ortgage $25,000,000 g o l d . . . Usm.c*&ri
___ 1904 1,000 & C 11,557,000
J
do
do
July 1 1954
4 g
J Jan 06 cou pon not paid Jan 1 1955
New m ortgage $50,000,000 authorized__________Ce;
___ 1905
a2,500,000
4H g
1,000 15,000,000
S March '06 cou pon not pd Sept 1 1908
Gold collateral notes subject to call at 1 01______ Ce
___ 1905
4)4 g M
1,000
972.000
Car trusts gold $54,000 due seml-an beg O ct ’ 06.Ce.c:
___ 1905
O J P Morgan & Co, N Y T o April 1 191ft
4 K g 4.
1,376,000
Car trusts $92,000 due sem i-annually_______________[
___ 1904
1,000
O R W lnthrop & Co, N Y Oct ’0 7 -0 c t '14
4 H gjA
5
J
Jan 1 1911
D a yton & Michigan first m ortgage guar p & 1 e n d . .c
142 1881
1,000
2,728,000
JiJ P Morgan & C o, N Y
Cincin & Ind W estern— See Chicago Cincin & Loulsv
a $15,000.000 additional pledged under collateral 14 yg % notes.
B O N D S .— The general m ortgage bonds are drawn at 105 and interest in
such annual am ounts as will retire the debt b y m aturity.
O f the consol. 4s o f 1902 (authorized issue $50,000,000), $12,382,000
has been sold on account o f track elevation and other Im provem ents, $5,710.000 additional were used to refund bonds canceled b y operation o f the
sinking fund, $8,659,000 are reserved to retire underlying bonds and $23.249.000 for future additions equal to at least the par value o f the bonds is
sued. V . 75, p. 732, 906; V . 84, p. 1427.
In Jan. 1907 $8,000,000 3-year 5 % notes were sold, secured b y deposit
o f $10,000,000 consol. 4s. V . 84, p. 220.
A N N U A L R E P O R T — Fiscai year ends D ec. 31. R eport for 1906 was in
V . 85, p. 154, showing gross incom e, $1,721,646; interest, & c., $1,394,233,
d iv s., $300,000; b al., sur., $27,413.— (V . 84 p. 1427; V . 85, p. 154.)
C H IH U A H U A & PACIFIC R R .— Com pleted April 1900 from Chihuahua,
M ex ., to M inaca, 125 miles.
E xtension from El Carpio Jet. to T em osachic,
M ex ., 55 miles, was opened O ct. 1905. See Kansas City M exico & Orient
statem ent and V . 71, p. 181. Stock Is $2,500,000; par of shares, $100.
B onds, see table abov e.— (V . 79, p. 902; V . 84, p. 693.)
CHOCTAW O K LAH O M A & GULF R R .— See Chic. R . I. & P a c. R y .
C IM ARRON & NORTHW ESTERN RR._— V . 84, p. 390.
• CINCINNATI BLUFFTON & CHICAGO R R .— (See M a p .)— P rojected
from H untington to Union C ity, I n d ., 70 m ., o f which B lulflon to Portland,
29 m ., com pleted; rem ainder to be In fall o f 1907. V / 8 4 , p. 1182.
S tock , $1,125,000, all o f one class, issuable at $15,000 per mile;
par o f shares, $100 each. Bonds, see table above. V . 84, p. 4 49 ,50 9 .
F or 4 m os. ending A pr. 30 1907, gross, $20,351; net, $13,045; Int. and taxes,
$10,767; b al., sur., $2,278. V. 84, p. 1182. For year ending Dec. 31 1906,
gross, $30,637; net, $7,463; other incom e, $3,748; interest and taxes, $12,958; bal., d e f., $1,747. Pres., S. H. B racey; S ec., Charles Blackburn;
T reas., John Fralse. O ffice, 616 Tribune Building, C hicago, 111.— (V . 82,
p. 1211; V . 84, p. 449, 509, 1182.)
CINCIN NATI F IN D L A Y & FORT W A Y N E R Y .— Owns Findlay, O ., to
F ort W ayne, In d ., 80 m .; also connecting link with the Cin. H am . & D.
from Delphos to Mandale, 12 m ., com pleted O ct. 15 1904. V . 77, p. 88,
694. Leased to Cincinnati Ham ilton & D ayton for 99 years from N ov. 1
1903, with privilege o f renewal for like periods forever
V 78, p. 286.
S tock , $1,250,000, all owned b y the Cin. H am. & D ayton, which guarantees
b ond s, principal and interest. M ortgage is limited by special agreem ent to
$1,150,000, or about $12,500 per m ile. Bonds are subject to call at 10214
and Interest. V . 78, p. 286, 342, 701. Form o f guaranty, V . 78, p. 701.
— (V . 79, p. 2696.)
CINCIN. FLEM IN GSBU RG & SOUTHEASTERN R R .— V . 81. p. 507.
CIN. GEORGET. & PORTSMOUTH R R .— See Street R ailw ay Section.
CINCIN NATI HAMILTON & DAYTON R Y .— The system Includes;
Road owned— (a See this Co.) M iles.
Proprietary roads—
M iles.
Cincinnati to D ayton , O _____ . . . 59 Cincinnati Ind. & W estern___ ,.a 3 6 1
D ayton to Ironton, O _______ . . . 1 6 7 Cincinnati & D a y ton _________ . .
13
D ayton to D elphos, O _______ . . . 95 Columbus Findlay & Northern . .
18
Trackage ___
______________ . . 62 Bowling Green R R __________ . .
19
Roads leased—
Plqua & T roy B ranch..... ...........
8
D ayton & M ichigan__________ _ .a l4 2
Cincin. Find. &, Ft. W ayne___ ___a91
H om e A ve. R R ______________ ___ 3
----------I Total o f all___________________1,038
aSee separate statements.
Has control o f the Pere M arquette R R .; also owns D ayton & Union
Jointly with Clev. Cin. Ch. & St. L. and Jointly with Southern R y . controls
Cin. New Orl. & T ex. P ac. R y . V . 75, p. 978.
N E W C O N T R O L , & c.— In Sept. 1905 the Erie R R . arranged to acquire
con trol by purchase through J. P. Morgan & Co. o f abou t $5,000,000 stock,
but the obligations o f the C. H. & D. under leases and other contracts, be
ing found unduly heavy, Mr. M organ, in N ov. 1905, relieved the Erie o f Its
purchase. V . 81, p. 1609. On Dec. 4 1905 Judson Harm on o f Cincinnati
was appointed receiver o f the C. H. & D. and Pere Marquette, the floating
In A pril 1906 foreclosure suit
debt o f the system being about $5,000,000.
was brought under the 4 ^ % m ortgage o f 1905 and steps. It was understood,
were proposed to foreclose 4}4 % notes o f 1905. V . 82, p. 803, 1040.
The receiver obtained authority to issue $931,630 receiver’s certificates
to p ay the interest due Jan. 1 1906 on C. H. & D. and Pere Marquette bonds.
T he certs , sub. to call at par, are a lien on entire properties, respectively,
no m ention being m ade in order as to priority over bonded debt. V. 81,
p. 1847; V . 82, p. 160. The same am ount o f certicfiates was issued to pay
July 1906 coupons. V . 83, p. 36, 969, 1033, 1551. The Jan. 1907 coupons
were paid from earnings. V 84, p. 101.
In Dec. 1905 the directors voted to annul the purchase o f con trol and
lease o f the Pere Marquette (which see). In June 1907 it was arranged to
cancel the lease. V . 81, p. 1791; V . 82, p. 48, 160, 750; V . 84, p. 1366.
Committee for Refunding 4s of 1904.— A com m ittee, James N . W allace,
Chairman; Fred. C. R andall, Secretary (Central Trust C o., d ep osita ry),
requested deposits. V . 81, p . 1664.
Committee for Collateral 4 H % N otes.— James N . W allace, Chairman. V .
81, p. 1664, 1723; V . 82, p. 509, 568, 803.
The stockholders on Jan. 12 1905 authorized a lease o f the Pere Marquette
R R . for 999 years. V . 79, p. 2696; V . 80, p. 162; V . 81, p. 899.
Under
lease o f Pere M arquette, the C. H. & D . guaranteed 5 % on com m on and 4 %
on preferred stock, $12,834,450 o f the $16,000,000 outstanding com m on
and $1,487,800 o f the $12,000,000 preferred being ow ned b y C. H . & D .
___
Toledo Terminal & R ailway bonds, see that com pany.
S T O C K .— In 1904 most of the $ 6 ,9 2 5 ,5 0 0 5 % pref. and all of the $ 1 ,0 7 4 ,500 4 % pref. stock was purchased by the com pany at $110 and $100 per
share, respectively. V . 7 9 , p. 7 3 3 , 7 8 6 , 9 0 2 , 1 4 6 1 . See notes of 1905 below.
D IV ID E N D S since consolidation
N ovem ber, 1 89 5, to A u g ., 1905.
Preferred, Issued In 1 8 9 5 __________________________5 % yearly.
On com m on, 2 % paid Dec. 24 1903; none since
BO N D S. & c.— The stockholders on Jan. 12 1905 authorized a new m ort.
to secure $50,000,000 o f 4
% bonds, o f which $25,000,000 to be reserved
to retire at or before m aturity a like am ount o f existing bonds shown In
table (none o f which except the D ayton & Michigan bonds, can be e x
ten d ed ). V . 79, p. 2696; V . 80, p. 162
The $15,000,000 gold collateral notes o f 1905 are secured b y an equal
am ount o f consol. 4 J^s, the greater part ($7,750,000) o f the preferred 4 %
and 5 % stock o f the C. H. & D ., $375,000 bonds o f constituent com panies,
and 7,501 shares o f Southwestern Construction Co. stock, representing Joint
ownership with Southern R y . o f control o f the Cincinnati New Orleans &
Texas Pacific R y . Proceeds used to fund obligations Incurred chiefly to re
tire preferred stock and pay In part for control o f the Pere Marquette R R .
V . 80, p. 1058. In June 1907 offers o f 70 fiat were, it is reported, m ade t o
the bondholders. V . 84, p 1366.
The refunding 4s o f 1904 cover all the road directly ow n ed , the leases o f
the D ayton & Michigan and Findlay F ort W ayne & W estern, and are fur
ther secured by deposit o f $11,000,000 Pere Marquette com m on stock and
$7,115,800 (entire stock Issue) o f Cincinnati Indianapolis & W estern R R .
O f the bonds, $9,977,000 were sold to provide for purchase of Pere Marquette
stock and im provem ents. V . 79, p. 212; V . 80. p. 162; V . 81. p . 154.
G U A R A N T IE S .— Guarantees securities o f Cin. Ind. & W est., D ayton &
M ich, and Cin. Find. & Ft. W ayne; also $933,000 In d . Dec. & W est 5s and
$6,000,000 Pere M arquette refund. 4s.
R E P O R T .— R eport for year ending June 30 1906 In V . 83, p. 1033.
Year ending June 30—
1905-06.
1904-05.
1903-04.
Miles operated...........................................
1,038
1,038
1,015
Gross earnings.......................................... $8,519,153 $8,106,147 $8,272,153
1,785,120
2,210,427
Net incom e_______ _________ _______ _ 1,607,718
D educt Interest on bon d s.................. 2,366,680 f 1,524,744
1,068,608
Interest on bills p a y a b le ............... _ _ j
I
29,792
_________
D iv. pref. stock D . & M. R R ______ )
f
96,900
96,900
D iv. com . stock D . & M. R R .........._|
I
83,892
84,066
D lv. com . stock H om e A ve. R R ___f
388,669'j
5,000
5,000
156,095
167,322
D lv . com . stock C. I. & W . R R ____ I
Other rentals_______________________ J
I
129,920
_________
D lv. pref. stock C. H. & D . R y ______
_________
122,554
389,237
T o ta l.............. ............... ..........................$2,755,349 $2,148,897 $1,811,134
Surplus......................... . . ................... .d f . $1,147,631 df.$363,779
$899,239
O F F IC E R S .— P res., F . D. U nderw ood; T reas., J. E . H oward; Sec.
Thos. J. W alsh; A sst. T reas., D. W . Bigoney; A sst. S ec., D avid Bosman.
Directors— Geo. W . Perkins, F. D . U nderw ood, Charles Steele, Geo. F.
Baker, Geo, W . Y ou n g, N . B. Ream and H. F. Shoem aker, New Y o rk ;
Chas. A . Otis J r., J. H . Clarke and R . R . R hod es, Cleveland, Ohio; A .
M onsarrat, Colum bus, Ohio; W . L . D echant, M iddletow n, O h io.— (V . 83,
p . 1033; V . 84, p. 101, 507, 693, 803, 1366, 1551.)
CINCIN NATI IN D IA N A P O L IS & W ESTERN R R .— H am ilton, O ., to
Springfield, 111., 296 m .; Sidell, III., to W est L iberty, 78 m .; trackage, W est
Liberty to Olney, 8 m. A consolidation Sept. 1902; V . 75, p. 239, 289, 497 ,
732. Stock authorized $8,200,000; issued, $7,115,800; all owned b y C. H.
& D ., which received dividends thereon In 1902-03, $126,798; In 1903-04,
$167,322; In 1904-05, $156,095.
B O N D S .— The "first and refunding” 4s o f 1902 ($8,200,000 authorized
Issue) are guaranteed, principal and Interest, b y C. H. & D. b y endorse
m ent on each; $4,722,000 were Issued In exchange for existing bonds, o f
which $50,000 In the Cin. H am . & D ayton treasury; $3,478,000 are reserved
to retire Ind. Dec. & W est. 5s. V . 75, p. 1201, 1353; V . 77, p . 1290; form
o f guaranty, V . 78, p . 2011
The I. D. & W . bonds are redeem able b y lot at 110 at any tim e on eight
weeks’ notice; $933,000 are guaranteed b y Cin. H am . & D ayton . Car
trusts June 1906, $140,000 4 % equipm ent notes, due yearly to N ov. 1
1911, Inclusive, Interest M. & N
E A R N IN G S .— Year ending June 30 1905, gi ss, $2,272,312; net, $567,181; charges. $411,086.— (V . 79. p. 2696.
CINCINNATI IN TER -TE RM IN A L R R .— Owny a road connecting the
Ches. & Ohio bridge and the Cincinnati H am. & L'ayton terminals. Con
trolled b y Ches. & Ohio R y . Comm on stock, $10,000, In $100 shares. Issued
for purpose o f con trol. There will be Issued $1,000,000 o f 1st preferred 4 %
cum ulative stock , secured by m ortgage to the Union Savings Bank & Trust
Co. of Cincinnati, as trustee, and rentals paid b y Ches. & Ohio and Louis
ville and N ashville, and subject to call on any Interest day after Feb. 1 191&
at 105. V . 79, p. 212; V . 80, p. 1728, 2398, 2620. P res., Geo. W . Stevens.—
(V . 80, p . 2620.)
CINCINNATI LEBANON & NORTHERN R Y .— Owns Cincinnati, O ., t o
Dodds, 38 miles, including 6 miles from Lebanon to D odds, leased to tto
D ayton L eb. & Cin. R R .; Middletown Jet. to M iddletow n, O ., 14 miles
(form er Mid. & Cin. R R ., taken over Jan. 1 1903); tota l, 52 miles. S tock
authorized, $1,500,000; outstanding, $1,100,000, m ostly owned by Penn. Co.
V. 75, p. 980. Dividend o f 3 % paid In 1906. O f the $1,500,000 first co n
sol. 4s o f 1902, guaranteed prin. and int. b y the Pennsylvania Com pany,
$200,000 are reserved to retire the 5s due 1916. V . 77, p. 86. Cal. year
1906, gross, $320,605; net, 581,701; other Incom e, $32,765, int. on bonds
$61,640; additions and im p ts., $8,409; dividend (3 % ) $33,000; b a l., sur.,
$11,417.— (V. 77, p. 86.)
CINCINNATI & M U SKIN GU M V A L L E Y R R .— (See M a p s of P en nsyl
vania HR.) ——Owns Morrow, O .. to Trinw ay, O .. 148 miles; half interest
Zanesville Term inal R R ., 5 miles. V . 77, p. 86.
Successor A ug. 1 1898 to Cincinnati & Muskingum V al. R v ., foreclosed.
V . 67, p. 27. O f the bonds $250,000 are reserved for future needs; sinking
fund retires yearly 1 % o f those outstanding, if offered at par or less. T he
Pennsylvania Company guarantees the bonds, principal and Interest. See
form o f guaranty, V . 76, p . 653. S tock, $2,000,000. all owned Jan. 1 1907
b y the Pitts. Cin. Chic. & St. L . R y . Dividends; 1900, 6 %; 1901 to 1906
lncl., 2 % yearly. Penn. R R . owns $1,318,000 o f the $1,750,000 bond#.
Car trusts, $112,000 3 )$s, payable $22,400 yearly to June 1912.
R eport for 1905 was in V . 82, p. 1494.
J u l y , 1907.]
R A IL R O A D S .
F or explanation of column headings, A c ., see notes
on first page of tables.
Cincin Ind & W est— Ind D ec & ln ot g u a ra n te e d ...C e
W 1st M gold red at 110 ..\ g u a r p & i (e n d )____c
0 1 & W 1st & ref M $8,200,000 g gu p & i e n d ..T a
Cincinnati Inter-Terminal RR— 1st pfd stock (seetext)
Cincinnati Lebanon & Northern— First m ortgage____c
1st con M $1,500,000 g gu p & I end (V 75 p 1398) .c*
Cin & Musk Val— 1st M $2,000,000 g gu p & i en d .F .c*
Cincin N O & Tex Pac Jet— Com stock $ 3 ,0 0 0 ,0 0 0 ..
Preferred stock 5 % cum ulative $3,000,000..... ..........
E qu ip, trusts due abt. $85,000 s.-a. (V . 78, p. 1391)
do
do
due $6,585 m on th ly_________
do
d o Ser B due $97,000 semi-ann. (V .82,p .928
Cincinnati Northern— 1st M $3,000,000 gold __ G.c* &r
Cincinnati Richm ond & Ft W— 1st M gold int guar__C*
Clearfield & Mahoning— Stock 6 % ren tal____________
First m ortgage gold guaranteed B R & P ____G.c* &r
Cleveland Akron & Colum bus— Stock $ 4,000,000____
General m ortgage (now first) g o ld .................................
First consol M $4,000,000]guaranteed p & i e n d __
gold sinking fu n d _____ \ not guaranteed________
Cleveland Cincinnati Chicago & St Louis—
C om m on stock ($50,000,000 a uthorized)___________
Preferred stock 5 % non -cum ulative.................... ........
C I St L & C con M drawn at 105 sinking fund 1 % .c*
Gen 1st M $10,000,000 gold s f not drawn_Ce.c&r
Cleve Col Cincin & Ind consol mortgage (see text)
Gen consol m ortgage ($12,000,000) gold_U s.c*& r
Indian & St L 1st M In 3 series o f $ 6 6 7 ,0 0 0 .. Us.c
2d M ($2,000,000) gold Indianap to Terre H .c*
Cl Cln Chic & St L W hite W at Val Div 1st g -.C e .c*
Spr & Col D iv (Col Sp & Cin) 1st M g o ld ------Ce.c*
C .iro Division 1st M $5,000,000 g o ld ______ Ce.c*
St L D iv collat tr gold ($351,000 l n s f ) ...C e .c & r
Cincin W ab & Mien Div first m ort. g o ld ____Ls.c*
Gen M 100 years for $50,000,000 goid .M e.c*& r
N otes $5,000,000 gold c & r — . . ------------------------Obligations for Proprietary Lines.
Cincinnati Sandusky & Cleveland— Preferred stock
Consolidated (now first) M (S3.nnn.0001 eold .A B .r
IN T E R E S T OR D IV ID E N D S .
M iles Date Size, or
Amount
Par
of
of
Road. Bonds. Value. Outstanding
\ 262 J189a
11895
)
381 1903
T ext.
38 1886
52 1902
148 1898
*86
1904
1905
1906
1901
1871
‘ 26
1893
177 1887
1188/ 1900
/
\ 1900
175
391
391
72
72
62
45
267
194
203
1,021
....
170
1880
1886
1874
1884
1869
1882
1890
1890
1890
1890
1891
1893
1907
188X
$1,000
1,000
1,000
100
1,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
50
1,000
100
500 &c
1,000
1,000
Rate
%
50
1.000
D IV ID E N D .— On p ref., 1 % , paid quarterly Sept. 1 1902 to June 1907,
both Inclusive. On com m on. 2% paid Dec. 1 1903 out o f accumulated
earnings to June 1903; Sept. 1 1904, 2 % ; June 1905, 3 % ; D ec., 2 % ; June,
1900, 3 % ; D ec., 2J^% ; 1907, June, 2 H % - On A pril 1 1906 $1,500,000 5%
notes were issued to p ay for second main track and other im provem ents,
payable $150,000 sem i-annually to April 1911, Inclusive. V . 83, p. 1225.
S T O C K .— Com m on, $3,000,000, controlled In interest o f Southern R y '
and Cincinnati Ham ilton & D ayton R y . V . 61, p. 26; V . 65, p. 1173.
L A T E S T E A R N IN G S .— "11906-07. .G ross, $7,925,354; net, $1,551,544
11 m os., July 1 to May 31. J 1 9 0 5 -0 6..G ross, 7.703,219; net, 1,860,143
A N N U A L R E P O R T .— R eport for year ending June 30 1906 was In V . 83.
p. 1225, show ing,gross, $8,454,897; net, $2,062,225; (against $1,717,770
in 1904-05); other incom e, $44,498; rentals, $1,207,000; interest, $71,133;
im provem ents, $440,826; d iv. on pref. (5 % ), $100,000; div. on com . (5 % ),
$150,000; bal., sur., $137,765.— (V. 83, p. 1469; V . 84. p. 51.)
CINCINNATI NORTHERN R R .— (See M a p Cleveland C in. Chicago & St.
L ou is.)— Owns Franklin, O ., to Jackson, M ich., 208 miles; trackage (C. C.
C. & St. L .), Franklin to Cincinnati. 38 miles; at Jackson 1 mile.
Successor in June 1897 o f Cincinnati Jackson & Mackinaw, foreclosed.
V . 65, p. 621; V . 72, p. 338, 1034, 1135; V . 73, p. 31. The holdings of Clev.
Cln. Chic. & St. L. are valued In balance sheet o f Dec 31 1904 at $1,105,387.
V . 75, p. 454, 457. S T O C K , $3,000,000. For 5 m os. ending May 31 1906,
gross, $397,250, against $381,503 in 1906. In year ending Dec. 31 1906,
gross, $1,027,728; net in c., $228,588; charges, $95,892; b a l., sur., $132,696. P re s ., M. E. Ingalls.— (V . 81, p. 1314.)
CINCIN NATI RICHMOND & FORT W AYN E R R .— Owns from R ich
m ond, I n d ., to A dam s, In d ., 86 m .; leases 5 m. o f P . Ft. W . & C. N ow o p
erated (A pr. 1907) b y Grand R apids & Indiana R y . R ental, net earnings.
Int. is guaranteed b y the Pennsylvania Co. and Pitts. Cin. Chic. & St. L. Co.
Jointly (the P . C. C. & St. L. taking the place of the Cin. H am . & Dayton in
1888). S tock , $1,709,313 (par $50), o f which Penn. Co. A pr. 1907 owned
$1,257,900. Due guarantors A pr. 1 1907, $1,513,800.
Year ending Dec. 31.
Gross.
N et.
Interest. &c.
Balance.
1906.'_________________ $657,897
$127,258
$140,184
def. $12,926
1905.................................. 629,525
114,451
126,000
def. 11,549
C LE A R F IE L D & MAHONING R Y .— (See M a p B u f. Roch. <fe P itts.)—
Owns road, com pleted in 1893, from Du Bols Jet., P a., on B uf. R . & P ., to
Clearfield on Beech Creek R R ., 26 miles. Leased during corporate existence
and renewals thereof to Buffalo R ochester & Pittsburgh— which see— at a
rental payable in gold and equal to 6 % on $750,000 stock, par $50, and 5 %
on bonds, the latter being guaranteed, principal and interest, by indorse
ment on each.— (V . 61, p. 710.)
C L E V E L A N D AKRON & COLUMBUS R A IL W A Y .— (See M a p s Of
Pennsylvania liR .)— Owns from Hudson, O ., to Colum bus, O ., 144 miles;
Dresden branch, Kilbuck to T rinw ay, 33 m .: ADple Creek branch, 9 m .;
H ow ard coal branch, 4 m .; coal spurs, 4 m .; total ow n ed, 194 miles; tra ck
age, Trinw ay to Zanesville, 17 m . Owns a fourth interest in A kron & Bar
berton Belt R R ., 24 m . V . 76, p. 435. In 1905 issued $750,000 car trusts,
due $75,000 yearly.
Penn. Co. took control June 1 1899. purchasing $2,237,500 o f the $4,000 000 stock (par $100). Dividends, 2 % yearly, Sept. 1901 t o Sept. 1905:
1906, 3 % (M .-S .); 1907. M ch.. 1 ^ % . O f 1st cons, gold 4s o f 1900 (C om m ’ l
Trust Co. o f Philadelphia, trustee). $1,023,000 are guaranteed, principal and
Interest, b y the Pennsylvania Company. $1,800,000 are reserved to retire
the general 5s due 1927: V . 71, p. 390: V . 76, p. 653; V . 77, p. 1746, 2280.
R eport for 1905, in V . 83, p. 152. In 1906, gross. $2,046,567; net, $476,491;
other Incom e, $6,396; interest on bonds, $158,310: dividend, $120,000 (3 % );
other charges, $55,555; bal., sur., $149.023.— (V . 81, p. 28; V . 83, p. 152.)
CLEV E LAN D CINCINNATI CHICAGO & ST. LOUIS R Y .— (See M a p s
N . Y . Central & H . R . R R .). R O A D .— Radiates from Indianapolis, In d .,
westerly to Chicago, Peoria, Cairo, 111., St. Louis, easterly to Sandusky,
Cleveland Columbus and Cincinnati, O. and southerly to Louisville.
H I S T O R Y , & c.— A consolidation o f the Cincinnati Indianapolis St. Louis
& Chicago R ailw ay C o ., the Cleveland Columbus Cincinnati & Indianapolis
Railw ay Co. and the Indianapolis & St. Louis R ailw ay C o., m ade in July
1889, per plan in V. 48, p. 427. O f the com . stock, $23,148,100 was on Jan. 1
1907 owned b y the L. S. & Mich. So. R y ., this am ou nt, together with the
private holdings in both stocks b y the Vanderbilt fam ily, being. It Is under
stood , a m ajority o f the entire share capital. V . 72. p. 86: V . 82, p. 749.
The com pany is also one-fourth owner o f Peoria & Pekin Union R y.
(through the Peo. & East. R y .), one-fourteenth owner in Terminal R R .
A ssociation o f St. Louis, and tw o-fifths owner o f Indianap. Union R y ., and
part owner o f Cent. Indiana R y ., Cent. Union D epot & R y . o f Cincinnati,
Union D epot o f Columbus, D ayton Union R y ., D ayton & Union R R ., Muncle Belt R y . and Findlay Belt R y ., which are operated independently.
When
Payable.
$2,229,000
J
& J
5 g
933,000
J & J
5 g
4,672,000
J & J
4 g
F & A
650,000
4
5
J & J
200,000
1,291,000
M & N
4 g
F & A
1,750,000
4 g
3,000,000 See text. T ext.
2,000,000 5 in 1906 Q— M
4
680,000
M & S
39,510
1,744,000
g M & N
4
1,000,000
J & J
1,800,000
J & D
7 g
6
J & J
750,000
J & J
650,000
5 g
4,000,000 3 in 1906 M & S
1,800,000
M & S
5 g
F & A
1,023,000
4 g
672,000
F & A
4 g
100 47,056,300 4 in 1907
100 10,000,000 5 in 1906
647,000
6
1,000
7,472,000
1,000 &c
4 g
4,138,000 7 or 6 g
1,000
3,205,000
1,000
6 g
2,000,000
7
1,000
500,000
1,000
6 g
650,000
1,000
4 g
1,103,730
500 &c
4 g
5,000,000
1,000
4 g
1,000 &c 10,000,000
4 g
4,000,000
1,000
4 g
1,000 22.903,000
4 g
5,000,000
1,000 &c
5g
Y r. end. D ec. 31.
Gross.
N et inc.
Interest. Dividends. Balance.
1906 ........................... $845,396 $194,376 $69,500 (2 % ) $40,000 $84,875
1905
. 794,094
179,753
64.000
(2 % ) 40,000
75,752
Paym ents in addition to above in 1906 were $50,719 for additions, im
p rovem en ts, & c ., (against $17,415 in 1905), and $16,335 on a ccou nt o f
interest.— (V .81, p. 270; V 82, p. 1494.)
CINCINNATI NEW ORLEAN S & TEXAS PACIFIC R Y .— (See M a p of
Southern R y .)— Operates Cincinnati Southern R y ., owned by city o f Cin
cinn ati, Cincinnati to C hattanooga T enn ., 336 m .; trackage, 2 m. In
Jan. 1903 the entire stock o f the Harriman & Northeastern R y ., 22 miles,
was acquired, but road is operated separately. V . 77. p . 1743
In 1901 lease was extended 60 years to O ct. 12 1966; rental until O ct. 12
1906 was m odified beginning July 12 1902 to $1,050,000 yearly, the rem ain
ing $50,000 per quarter to be deferred as it accrues and to be paid quarterly
at rate o f $40,000 yearly, with interest on deferred paym ents at 3 %; rental
under renewal to be $1,050,000 yearly for first 20 years, then $1,100,000 for
20 years, thereafter $1,200,000. V . 73, p. 722; V . 74, p. 1251. Pref. stock
8 % cu m ., with no voting pow er, but prior rights on dissolution. V . 74,
p. 528, 829.
45
RAILWAY STOCKS AND BONDS.
428,997
2.571.000
6
5 g
Where Payable, and by
Whom
Central Trust C o., N Y
do
do
J P Morgan & C o ., N Y
Cincinnati
Cent Tr & S D Co, Cincin
do
do
Farmers L & Tr C o, N Y
Cincinnati
do
Blair & Co, New York
E quitable Trust C o .,N Y
Guaranty Trust Co, N Y
W inslow , L & Co, N Y
Checks mailed
36 W all Street, N ew York
Checks mailed
W inslow, Lan & Co, N Y
H am ilton T rust, B klyn
do
do
Bonds— P rin ci
pal. When £ )««.
Stocks— Last
Dividend.
Jan 1 1935
Jan 1 1935
Jan 1 1953
F eb 1 1907 2 %
Jan 1 1916
N ov 1 1942
A ug 1 1948
June241907 2J4
June 1 1907 1 H
Sep ’07-Mar ’ 11
T o Mch 1 1908
N ov ’07-M ay ’ 16
July 1 1951
June 1 1921
July 1 1907
Jan 1 1943
Mar 25’07 1 H %
Mar 1 1927
A ug 1 1940
A ug 1 1940
& S J P Morgan & C o, N Y Sept 319 0 7 2 %
do
do
July 20 ’07 I K
Q— J
May 1 1920
do
do
& N
Aug 1 1936
Q— F
do
do
June 1 1914
do
do
J & D
Jan 1 1934
J & J
do
do
do
do
July 1 1919
Various
do
do
N ov 1 1912
M & N
July 1 1940
do
do
J & J
Sept 1 1940
do
do
M & S
jJan 1 1939
do
do
J & J
do
do
tNov 1 1990
M & N
July 1 1991
do
do
J & J
uune 1 1993
do
do
J & D
June 1 1911
J & D
M
M
.......
M
.T
&
&
N
.T
do
do
do
do
May 1 1907 3 %
•lan 1 1928
C L EV E L AN D CINCINNATI CHICAGO & ST. LOUIS R Y . (Concl.) —
Leased and controlled—
Owned directly—
M iles.
44
Cleveland. O ., to Colum bus, 0 ..1 3 8 Cincinnati & Springfield R y .—
Gallon, O ., to Indianapolis______ 203 C olum .H ope& G reensb’g R R . . . 26
Jointly operated—
Delaware to Springfield__________ 50
Cincinnati to L afayette__________ 175 Chic. Ind. & St. L. Short Line . . 44
Trackage into Cinicnnati, & c .. 32
Indianapolis to Terre H aute_____ 72
Harrison B ranch________________
7 T rackage into Jeffersonville. 58
Trackage into T oled o___________
48
Leased— entire stock owned—
Cin. Lafayette & Chic. R y ______ 57
T otal Included in earnings. 1,983
Cairo Vincennes & Chic. R y—
Operated; earns, kept separate—
Cairo, 111., to T ilton & b ra n ch .267
St. L. D iv. T . H . to E. St. L ..1 9 3 Peoria & Eastern R y ___________ *351
Cincinnati & N orthern_________*248
Columbus Springfield & Cin.—
Columbus, O ., to S p rin gfie ld .. 45 Kankakee & Seneca R R ________ 42
2
Mt. Gilead Short Line..... .............
W hite W ater— H arrison, In d ., to
Louisv. & Jeffersonv. Bridge . .
*3
Hagerstovm , In d _____________ 62
Cin.. W abash & Michigan R y .—
Total o f system Dec. 31 ’0 6 ..2 ,6 2 8
B enton H arbor to Rushvllle &
B ranch______________________ 249 Trackage 111. Cent, into C hic.-!
On percentage basis_________ J
Other lin e s ______________________ 44
Operates independently—
Cincinnati S an dusky& C leve.R y.—
Sandusky, O ., to D a y ’n , 0 . ,& c .170 j D ayton & U n. R R . ( * ) _________
47
* See this com pany.
|Double tra ck ___________________218
A 45-mlle cu t-off between H illsboro. 111., and Mitchell, near St. L ouis,
under the charter o f the Chicago Indianapolis & St. Louis Short Line was
opened July 1 1905. See “ General Finances” below . V . 75, p. 1086;
V . 77, p. 517; V . 79, p. 785, 1331. In Sept. 1904,a trackage arrangement
was made with H ocking V alley R y . for use o f latter’s tracks between T oledo
and Carey, 48 miles, affording through line between Toledo and Cincinnati.
V . 79, p . 1023, 2696. As to Central Indiana, 118 miles, see that com pany.
In Jan. 1907 a new double-track line from E vansville to M t. Carmel, In d .
30 miles, was under construction. V . 83, p. 817, 1098.
C A P IT A L S T O C K .— On Jan. 1 1890 the com m on stock was $20,500,000;
it has been Increased to acquire stocks o f lines absorbed. &c.
The stockholders voted June 21 1905 to increase the com m on stock from
$28,700,000 to $40,000,000. V . 80, p. 1423, 1911, 2343, 2399; V . 81,
p . 264; V . 83, p. 751. The stockholders voted O ctober 31 1906 to in
crease the com m on stock from $40,000,000 to $50,000,000, the new stock,
o f which $4,806,580 subscribed for b y stockholders at 90, carrying all divi
dends accruing after March 1 1907. V . 83, p. 687,1290. V . 84, p .il2 4 7 .
D IV S .—
j ’ 93. ’94. ’95. ’96. ’97. ’98. ’ 99. ’00. ’01. ’02 t o ’06.
1907.
C o m m o n ..} 3 0 0 0 0 0 0 3 3 } ^
4 y rly .
4
Preferred . j
5
5
5
5 2 ^ 5
5
5
5 5 y rly . Incl J u ly ,3%
B O N D S .— The sinking fund provision o f the Cleveland Columbus Cincin
nati & Indianapolis consol, bonds (stam ped) has been canceled. T he prin
cipal o f these bonds is payable In g o ld . but the Interest is payable at option
o f holder, either in lawful m oney at 7 % per annum or in British sterling at
6 %. O f the Indianapolis &. St Louis 1st 7s, series " A ” are J.& J .; series
B ,” M .& S .; series “ C ,” M .& N .
,
St. Louis Division bonds, see deed o f trust, V . 52, p. 42-45.
The 100-year mortgage o f 1893 is limited to $50,000,000. In A ug. 1906
$22,428,000 Gen. 4s were reserved for prior liens (exclusive o f Cairo division,
Peoria division, Michigan division and the St. Louis division west of Terre
H aute), and $5,748,000 for equipm ’t, con str’n and betterm ents, & c., $1,000,000 yearly. See V . 78, p. 1446; V . 79, p. 733; V . 83, p. 379. Guar
antees Chicago Indianapolis & St. Louis Short Line R y ., Central Indiana
R y . and Springfield Union D epot Co. bonds. V . 77, p. 510, 517, 769,
1363, 2280; V . 78, p . 1906, 1961; V . 79, p. 2589.
G E N E R A L F IN A N C E S .— Guarantees interest on Louisville & Jefferson
ville Bridge bonds join tly with the Ches. & O. V . 68, p. 822. On June 30
1904 owned stock in Chesapeake & Ohio representing an outlay o f $2,453,569, Cincinnati & Northern R R . securities costing $1,105,387 a n d a n interest
in the Central Indiana R y . costing $430,027. V . 71, p. 398; V . 75, p. 455:
V . 77, p. 517; V . 79, p. 912. Capital stock per m ile o f road ow ned D ec. 31
1906, $27,700; bonded debt, $35,242.
In 1905 $11,300,000 stock was sold and in Feb. 1907 stockholders were
offered $10,000,000 stock at 90. See STOC K abov e. In M ay 1907 $5,000,000 4-year 5 % notes were sold. V .8 4 , p. 1247.
E A R N IN G S .— For 6 m onths ending June 30, gross, $12,439,769 in 1907,
against $11,362,518 In 1906.
R E P O R T .— Fiscal year has been changed to end D ec. 31. R ep ort for
year ending D ec. 31 1906 was in V . 84, p. 927.
1906.
, 1905.
1904.
Miles operated.:______________________
1,983
1,988
1,891
Passenger ea rn in gs__________________ $6,963,864 $6,379,056 $7,452,558
F reight.............. ..................................... .. 15,683,733 14,291,108 13,015,507
Mail, express, & c.............. - ...................... 1,947,319
1,847,599
1,673,045
Total earnings...................................... $24,594,916 $22,517,763 $22,141,110
Operating expenses.................................. 18,432,713 16,879,345 16,131,113
N e te a r n in g s ___________ ________ _
$6,162,202
T otal net Incom e......... ............................ $6,370,771
Interest on bonds. &c.............................
3,189,115
T a x e s ______________________ _________
831,631
R entals, & c__________________ _______
285,293
Dividends on preferred. 5 % __________
499,925
Dividends on com m on, 4 % ---------------1 ,5 1 1 ,7 5 4
$5,637,418
$5,879,895
2,976,906
742,496
290,068
499,925
$6,009,997
$6,294,214
2,981,112
678,607
255,659
499,925
1 ,3 2 8 ,9 5 0
1 ,1 1 9 ,6 1 2
B alance, eurplw s____________ ______
$ 53 ,053
-> $41,&50
$ 7 5 8 ,2 9 9
O F F IC E R S .— Pres., W m . H . N ewm an, New York; V ice-Presidents, J.
D. L ayng, E. V . W . R ossiter, W . C. Brown and John Carstensen, C. E .
Schaff, A . H . Harris and C. F . D aly; S e c., Dw ight W . Pardee, New Y ork;
T reas., Chas. F. C ox, New Y ork : A uditor, P. A. H ewitt .Cincinnati, Ohio.
D irectors.— W illiam K . V anderbilt, Fred’k W . V anderbilt, Chauncey M.
Depew , J. Pierpont Morgan, H . M cK . T w om bly, James D . L ayng, W illiam
H . N ewm an, W alter P . Bliss, o f New Y ork; Alexander M cDonald and
Melville E. Ingalls, Cincinnati; James Barnett, Cleveland. O .— (V . 83,
p. 751 , 817, 1088, 1228, 1290; V . 84, p. 157, 270, 927, 937, 1247.)
46
KAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date
Size, or
P ar
A mount
of
of
Road. Bonds. Value. Outstanding
IN T E R E S T OR D IV ID E N D S .
Rate
%
Cleveland Cincinnati Chicago & St Louis— (C oncl’d)
Central Indiana 1st M $4,000,000 gold gu a r____Ce
125 1903
$1,000 $1,500,000
4 g
Ch I & St L S L 1st M $3,000,000 gold guar.C e.c* &r
45 1903
1,000
3,000,000
4 g
Springfield Union D epot 1st M $300,000 gu a r____Ce
1905
1,000 None J ‘e ’06
4 g
Louisville & Jeffersonville Bridge 1st M— See thatCo
Cleveland Columbus Cincinnati & Indianapolis—-Cleve land I ndiana polis St Louis & Chi cago— Se
Cleveland Lorain & W heeling— Pref stock $5,000,000
100
5,000,000 See text.
Consol m ortgage (now first) gold ____________Usm.c*
192 1893
1,000
5,000,000
5 g
General mortgage $1,000,000 gold redeem at 105 __N
192 1896
1,000
893,000
5 g
Con ref M $10,000,000 gold red at 102H ____Ta.c*
192 1900
1,000
950,000
4>* g
Cleve & M V— Con M now first) $3,000,000 g -.C e .c& r
125 1888 1,000 &c
2,935,000
5 g
Cleve & Mar— 1st M sink fd not drawn gold g u a r .-F .c *
1,000
103 1895
1,250,000
4X g
___
Cleve & Pittsburgh— Stock 7 % guar b y Penn R R Co
50 11,247,593
7
Special betterm ’ nt stock $10,738,135 guaranteed 4 %
50
4
7,477,800
Gen M $10,000,000 gold . . FI Series A & B .............. c*
1,000
202 1892
4,561.000
4J4 g
Guaranteed prln & Inter j-Series C & D _______ c*
1,000
202 ’98-'00
4,888,000
3H g
(end.) Penn R R ______ j Series B Int. re d u ced .
202 1892
1,000
439,000
3H g
Cleveland Terminal & Valley—-See Baltimore & Ohio
184 1903
Coal & Coke— First mortgage $10,000,000 g o ld ______
1,000
9,268,000
5 g
Coal & Iron— See W estern Maryland
Coal River Ry— See Chesapeake & Ohio
Colebrookdale— 1st M $593,400 und Read M o f 1897.C
6
13 1868
100 &c
600,000
Colorado Midland— First mortgage $10,000,000 __Ce.c*
259 1897
1,000
9,179,000
4 g
Colorado & Northwestern— 1st M $1,000,000 g o ld __ Us
51 1904
1,000
1,000,000
5 g
Colorado & Southern— Com m on stock $31,000,000___
100 31,000,000
First preferred 4 % non-cum ulative $8,500,000____
100
8,500,000 4 In 1906
S econd preferred 4 % non-cum ulative $ 8,5 0 0 ,0 0 0 ..
100
1882
8,500,000 See text.
First mortgage gold $19,853,000_____________ Ce.c* 1,059 1899
1,000 19,403,000
4 g
___ 1905
R ef M $100,000,000 gold red 101 begin 1908.C e.c* &r
100 &c 10,000,000
414 g
___ 1907
Equip bonds, ser A , due s-a, red 101 (V 84, p 5 0 7 ). G
1,000
1,026,000
5
Col So N O & Pac— 1st M $12,000,000 g red 1 0 2 ^ ._ C e
1905
1,000 See text.
4)4 g
___ 1907
Equip tr notes, due $80,000 s-a, guar b y StL& SF Ba
1,000
1,520,000
5
Col Sp & Crip Cr D Ry— 1st M $2,000,000 g s f ____Ce
75 1900
1,000
1,795,000
5 g
S econd m ortgage $1,000,000 gold sinking fu n d ____
75 1901
1,000
219,000
5 g
First consol m ortgage $3,600,000 g o ld ______ M o.c&r
1902
1,000
1,379,000
5 g
C olorado & W yom ing Ry— 1st M $7,500,000 g o ld ..M e
1,000
171 1903
4,500,000
4 g
Col Newb & Laurens— 1st M $12,000 per m ile.-S B a
75 1887
1,000
899,000
3 g
Columbia Southern— 1st M gold $2,100,000_________N
70 1898
1,000
700,000
5 g
x Series “ A .” J&J:
,- B .” A & O .
v “ O.” M &N: “ D .” F&A
C LE V E LA N D LORAIN & W H EE LIN G R Y .— (See M a v B . & O .)— Owns
from Lorain, O ., to Bridgeport, O ., opposite W heeling, W . V a ., 158 m .; Les
ter to Cleveland. 28 m ., and branch to Bellaire, O ., 6 m .; tota l, 192 m .; and
has trackage into W heeling, y . 80, p. 1174.
H IS T O R Y .— Operated by the Balt. & Ohio, which owns about 75 % of
the stock. See that com pany and V . 72, p. 480: V 73, p. 296.
S T O C K .— Com m on, 58,000,000, and pref., non-cum . 5 % , 55,000,000
par $100. After 5 % on each, both stocks share alike. V . 60, p. 1058.
D IV ID E N D S .— On pref. 1896, 3 % ; Dec. 1904, 2J* % : 1905 to A pr. 1907
5 % (sem i-ann.).
B O N D S— Of the $10,000,000 consol, refunding gold 4 V£s, $6,000,000are
reserved to retire old 5s, rem ainder for im provem ents, &c
V. 70, p. 230
480.
R E P O R T .— R eport for year ending June 30 1906 was in V . 83, p. 1169,
showing, c t o s s , $3,483,193; net, $938,596; charges, 5559,506; d iv. on pref.
( 5 % ), $250,000; b al., $129,090.— (V . 83. p. 969, 1 169; V . 84, p. 338.)
C LE V E LA N D & MAHONING V A L L E Y R Y .— Owns from Cleveland, O .,
to Sharon, P a ., 81 miles (57 double track); Niles, O ., to New L isbon, O .,
and branches, 44 miles. Leased to N ypano R R . (form erly N. Y . Penn. &
Ohio) till 1962; rental $525,967 per annum. Coupon Interest is J .& J ..
registered Interest, Q .-J. Stock is $3,259,200, o f which $3,258,250 Is held
b y “ A tlantic First Leased Lines Rental Trust C o., L im ited ,” o f London.
Dividends in 1897, 1 3 34 % ; 1898 to 1904, both inclusive, 133^% yearly;
in 1905, 11.42 %; in 1906, 11.40 % .— (V . 63, p. 968.)
C LE V E LA N D & M ARIETTA R Y .— Owns from Marietta, O ., to Canal
D over, 103 miles, and branch, 7 miles, Zoar, O ., to Canal D over, leased.
S tock. $2,000,000, o f which the Pennsylvania Co. A pr. 1 1907 owned
$1,786,100 (par $100); surplus earnings Over charges go to C. & M. D ivi
dends paid in 1906 (3 % ), $60,000.
B O N D S .— Guaranteed prin. and Int. b y Penn. C o.; sinking fund 1 %.
E A R N IN G S .— In 1906, gross, $967,632; net, $255,581; int. on bonds,
$56,250; im provem ents, $84,596; other charges, $5,927; divs. (3 % ),
$60,000; b a l., su r., $48,808. In 1905, gross, $798,351; net, 590.477.—
(V . 77, p. 87.)
C L E V E L A N D & PITTSBU RGH RR .— (See M a p Pennsylvania Railroad.)
— Cleveland, O .. to R ochester, P a ., 124 miles; branches— B ayard, O ., to
New Philadelphia, 31 m .; Yellow Creek to Bellaire, 43 m .; other, 3 m .;
trackage, R ochester to Pittsb. (P. F t. W . & C hic.), 26 m .; total, 227 m iles.
L E A S E .— Leased for 99 years D ec. 1 1871 to Penn. R R . C o., and lease
transferred to Pennsylvania Co. R ental, 7 % on $11,261,865 stock. Interest
on bonds and organization expenses. “ Special guaranteed betterm ent
s to ck ” (subordinate to the original stock as to dividends o n ly ), with divi
dends o f 4 % guaranteed b y the Penn. R R ., Is Issuable for im provem ents,
V . 79. p. 2205, 2642; V. 83, p. 625.
B O N D S.— Generals are all equally secured; guaranty. V . 56, p. 604.
E A R N IN G S .— In 1906 gross earns., $10,302,002; net, $3,477,368; profit
to lessee was $1,771,871.— (V . 79, p. 2795; V . 82. p. 217; V . 83, p. 265, 687.)
C L E V E L A N D TE RM IN A L & V A L L E Y R R .— (See M ap Baltimore &
O hio.)— Owns from Cleveland, O ., to V alley Junction, 75 miles; branches,
7 mile ; yard track and sidings, 87 miles.
S T O C K .— Of the $5,200,000 common (par $50) B. & O. owns $4,594,300
com m on and o f the $1,822,200 preferred, $949,200; par $100.
B O N D S .— The first m ort. bonds are guaranteed, principal and Interest,
by the B. & O. endorsed.
Car trust lease warrants (5s), $56,000, due
$27,000 May 1 yearly to 1909, Inclusive.
R E P O R T for year ending June 30 1906 was In V . 83, p. 1168, showing
gross, $1,147,275; net incom e, $243,413; interest, & c., $261,956; d eficit,
$18,543.— (V . 81, p. 1315, 1488; V. 83, p. 969, 1168.)
COAL & COKE R Y.— Owns from Letter, W . V a ., to Charleston, W . V a .,
166 miles; trackage, Leiter to Elkins, 9 m .; Morris Creek branch, 3 m .;
Mabie to Belington, 17 m .; tota l, June 30 1906, 195 miles. Branch from
M iddle Fork to Casslty F ork, 12 m ., was com pleted July 1906. A bout
100,000 acres of coal lands are owned along the line of the road. Stock
authorized and outstanding, $10,000,000. Mortgage covers road and coal
lands; V . 78, p. 47. Loans and bills payable June 30 1906, $2,429,281;
car trusts, $220,000, due $27,500 yearly. R eport for year ending June 30
1906 (184 miles) was in V . 83, p. 1409, showing gross, $550,683; n e t,
$139,996; net Incom e coal departm ent, $61,022; total net, $201,018.
Pres., H. G. Davis, Elkins, W . V a.; S ec., C. M. H endley, W ashington,
D . C .— (V . 81, p. 264; V . 83, p. 1408, 1469.)
COLE BR O O K D A LE R R .— Pottstow n t o B a r t o , P a ., 12.84 miles. Leased
to Phila. & Reading R y . Com m on stock, $297,215; par. $50.
COLORADO M ID LAN D R Y .— Owns from Colorado Springs to New
Castle, C ol., through Busk-Ivanhoe tunnel, 234 miles, including Snowden
to Leadvllle, 8 miles, not operated: Jerome Park branch, 15 miles: Aspen
b ranch , 18 miles; total ow ned, 267 miles. Leases New Castle to Rifle Creek,
14 miles, and R io Grande Junction R R ., Rifle Creek, C ol., to Grand Junc
tion . 63 miles; total owned and leased, 344 miles.
'
O R G A N IZ A T IO N .— Successor O ct. 1897 to the Colorado Midland RaU
road, foreclosed and reorganized per plan in V . 64, p. 1224, 1226. In May
1900 a m ajority o f the stock was purchased In the join t Interest o f the C olo
rado & Southern and Denver & R io Grande. V . 70, p. 686, 791, 997, 1290;
V . 71, p. 28; V . 73, p. n i l .
N o stock Is held by the public. Pref.
$6,000,000: com m on, $4,000,000.
B O N D S .— In June 1900 the right to Issue $500,000 prior lien 4s was
waived; V . 70, p. 1290; see also V . 71, p. 139. (V. 72, p. 821.)
E A R N IN G S .— 11 m o s.,11906-07............Gross, $2,255,284; net, $538,421
Ju ly 1 to May 31.
J1905-06............Gross, 1,958,008; net, 488,174
Yrs. end. June 30. Gross.
Net.
M isc. Inc: Charges.
Balance.
190 5 -0 6-............ $2,132,665 $604,755 $40,948 $522,061
Sur$123,642
1904-05________ 1,975,227
348 989
36,963
457,127
def 71,175
O F F IC E R S .— Pres., Frank Trum bull; V ice-Pres., Chas. Ii. Schlacks;
T reas., H. B. Henson; S ec., J. Steuart M acK ie. 71 B roadw ay, New York.
Dire tors.— Grenville M. D odge, Edwin H aw ley, E. C. Henderson,
George J. Gould, Edwin G ould, W inslow S Pierce. Harry Bronner. E. T.
Jeffery, Frank Trum bull and Chas. H. Schlacks.— (V . 77, p. 2035, 2389.)
[V o l . l x x x v .
When
Payable.
M
A
J
&
&
&
Where Payable, and by
Whom.
N Central Trust C o, N Y
O New York
J
do
Bonds— Princi
pal, When Due
Stocks— Last
Dividend.
N ov 1 1953
April 1 1953
Jan 2 1955
e Clevela
See text.
A & O
J & D
J
& J
See text.
M & N
Q— M
Q— M
A
y
&
nd Cincinnati Chicago & :St Louis
2 W all Street. New York A pr 1 1907 2V4
do
do
Oct 1 1933
do
do
June 1 1936
Jan 1 1930
do
do
W inslow , Lan & C o, N Y Jan 1 1938
Farmers L & Tr C o, N Y 'M a y 1 1935
W inslow , Lan & Co. N Y June 1 1907 1 H
do
do
June 1 1907 1 %
do
do
Jan-Oct 1942
do
do
1948-1950
do
do
O
Oct 1 1942
A
&
0 Elkins, W V a, or Balt
J
J
J
&
&
&
D Reading Co Office, Phlla June 1 1898
J Central Trust Co, N Y
July 1 1947
J
In default
July 1 1954
A
See
F
M
A
M
F
J
A
A
M
J
J
& o
text.
& A
& N
& O
& N
& A
& J
& O
& O
X
April 1 1919
H allgarten & C o, N Y {Apr 1 1907 2%
do
do
iAor 1 1907 2%
Central Trust Co, N Y
Feb 1 1929
do
do
May 1 1935
Guaranty Trust Co, N Y Oct ’07-A di- ’ 17
New Y ork
N ov 1 1925
................ ............................ A ug ’ 07-Feb ’ 17
Chem B k.N Y ; & Col Sp'Jan 1 1930
ln t Tr Co, Denv & Col Sp April 1 1921
M Trust, N Y ; & Col Spr Oct 1 1942
& s Boston B lock, Denver Mar 1 1953
& J State Dep & T r Co, Balt-July 1 1937
& D N Y Trust Co, N Y
D ec 1 1948
COLORADO & NORTHW ESTERN RR — Boulder to W ard , C ol., 26
miles; Sunset to Eldora, 20 miles; branches, 5 miles; total, 51 miles.
Reaches Denver Union Depot from Boulder over Colorado & S outhern
(third rail electric). V . 80, p. 650. In June 1907 W . B. H ayes was ap
pointed receiver. V . 84, p. 1427.
S tock, $1,000,000. Bonds, see table above
V . 78, p. 1961; V . 79, p.
212, 268. Year ending June 30, 1906, gross, $89,0 16; net, $6,924; op er
ating expenses, Including $37,000 for equipm ent.— (V . 84, p. 1427.)
COLORADO & SOUTHERN R Y .— (See M a p .) — Operates a system from
Orin J et., W yom ing, through Colorado to Fort W orth . T e x ., and bv e x
tensions built to 1906-07 reaches tidewater at Gah « jto n , T e x ., a n d 'a ls o
H ouston, Dallas and other points, v iz .: (* which see.)
L.ines owned—
M iles.
Controlled—
M iles
Cheyenne to Orin Junction ............154 F ort Collins D evelopm ent_______ 16
Denver to Bessemer J e t., C olo___129 F t. W orth & Denver C ity______ *454
Denver to Leadv. (nar. ga u g e)___152 Col. Spr. & Crip. Cr. D istrict___* 75
Como to Baldwin Mine ( do ) ___131 W ichita V a lle y....... ..................... a*113
Trinidad, C ol., to T ex. St. line___135 W ichita Falls & O klahom a______ 22
O th .lin e s,b r.,& c.(106 nar. gauge)359 Abilene & N orthern______________38
Trackage—-Pueblo to W alsenb’g
Trinity & Brazos V alley________*4156
(Denver * R io Grande)________58
T otal mileage operated and
T o t a l ________________ _______1,118
building ______________a 62,251
a Includes 60 miles com pleted Dec. 1906. f> Includes 157 miles opened
N ov. 1906 and 67 miles early in 1907 and 114 miles trackage.
Also owns half Interest In Colorado M idland, operatin g 344 miles.
O R G A N IZ A T IO N .— Succeeded on Jan. 11 1899, per plan In V . 67, p.
748. the Union Pacific Denver & Gulf and Denver Leadvllle & Gunnison.
Owns a large m ajority o f the oom m on stock o f Fort W orth & Denver City
R y ., which see. Colorado Midland Is controlled Jointly by Colorado &
Southern and R io Grande W estern. V . 70, p. 739. In Mch. 1902, Edwin
H aw ley, Pres, o f Minneapolis & St. Louis R R ., and associates, acquired
con trol. V . 74, p. 679, 727. T he voting trust expired April 1 1905.
Denver & Interurban (Electric) R y . V . 79, p. 1266.
In 1905 control o f Col. Spr. & Crip. Cr. Dlst. R y. was acquired: also Trln.
& Brazos V al., Cleburne to M exla, T e x ., 79 miles, with extensions building
(of which half Interest later sold to St. Louis & San F rancisco), and W ichita,
V a l., Byers to Seym our T e x ., 75 miles. See “ Finances” below and V . 80,
p. 1423, 1856; V . 81, p. 1241; V . 82, p. 928; V . 83, p. 695. Stockholders on
April 28 1906 authorized construction o f a line from Trinidad, C ol., north
erly about 120 miles to Florence. V . 82, p. 986.
D IV ID E N D S .— 1st p ref., 1900, 2 %•; 1901, 3 \$ % : 1902. 3 H %; 1903, 4 %
1904, A pril, 2 % ; 1905, none; 1906, 4 % (A . & O .); 1907, A p r., 2 % . On
2nd pref.. April 1 1 9 0 7 ,2 % . V . 84, p. 390.
B O N D S .— 1st M ., see V . 68, p. 1027; V . 77, p. 2158; V . 79, p. 2147.
The $100,000,000 refunding bonds o f 1905 are Issuable or reserved as
follow s (com pare * General Finances” below ):
For refunding bonds and equipm ent obligations o f system ______ $36,850,000
For betterm ents and Im provem ents, Including equipm ent, at the
cum ulative yearly rate, beginning Jan. 1 1905, o f $500 per
mile o f operated and controlled lines__________________________ 15,000.000
For reim bursement o f the treasury o f the com pany, & c................
2,500,000
F or acquisition o f additional property (including proper provi
sion for the cost o f double-tracking parts o f the main lines) . . 45,650,000
E quipm ent bonds o f 1907 mature $51,000 sem i-annually to April 1 1914;
thereafter, $52,000. V . 84, p. 507.
G E N E R A L F IN A N C E S .— In April 1905 a syndicate purchased about
$17,000,000 o f the Issue o f $100,000,000 refunding 4 H % bonds and agreed
to furnish $15,000,000 cash. O f these bonds, $8,000,000 were to be issued
to take up the equipment trusts (“ the paym ents on which then aggregated
about $400,000 per annum ” ) and certain other obligations o f tne C olo
rado & Southern and the Fort W orth & D enver C ity, pay for the Cripple
Creek Short Line R R . and provide working capital, the remaining $9,000,000
to pay for a new extension to the G ulf at a cost o f from $17,000 to $22,000 a
mile, including the Trinity & Brazos V alley. N o further bonds, except about
$1,000,000 a year for additions and betterm ents, can be Issued before 1909
without consent of syndicate managers. V . 80, p. 1423, 1971; see V . 84,
p. 276. On June 30 1904, $11,372,032 had been issued.
The R ock Island Co. has agreed to share equally wltn tne Colorado South
ern In any deficiency in earnings o f T rinity & Brazos Valley to meet the
Interest on the bonds (approxim ately $9,000,000) to be Issued under
Colorado & Southern m ortgage to construct the road from Fort W orth to
H ouston, T e x ., and to pay on May 1 1935 (date of Col. So. refunding m tge.)
for an unencum bered half interest In Trinity & Brazos Valley securities
or jo in In re-QnancIng same. V . 82, p. 986; V. 83, p. 695.
S A R N IN G S .— Including Ft. W orth & Denver City and all affiliated lines.
For 11 m onths.
\1906-07____ Gross, $12,288,070; net,$3,576,509
J u ly 1 to May 31.
J1905-06____Gross, 10,667,254; net, 3,165,079
For 4 mos. ending Oct. 31 1906, net, $802,796: other Income, $9,676;
charges, $403,353; taxes, $84,517; bal., sur., $324,602.
R E P O R T .— R eport for 1905-06 at length, showing operations of system
Including the Ft. W orth & Denver City and Col. Spr. & Crip. Cr. Dist. R y
and Fort Collins D ev. R y. (the net earnings o f the portion o f the T rinity
& Brazos Valley In operation, 79 miles being included in other In com e), was
in V . 83, p. 683, 695.
Year end. June 30—
1905-06.
1904-05.
1903-04.
Miles op erated ___________ ___________
1,663
1,663
1,118
Gross earnings------------------------------------ $11,653,446
$9,443,426
$5,702,687
Operating expenses and taxes_______
8,214,307
7,230,617
4,492,672
Net earnings------------------- -------------- $3,439,139
Total net incom e_____________________ $3,596,413
Interest on bonds, & c________________
1,830,201
Dividends on 1st preferred.................. - (2)170,000
Balance, surplus__________________ $1,596,212
$2,212,809
_________
_________
............
$1,210,015
$1,249,799
811,958
(4)340,000
$97,841
July, 1907.]_____
RAILWAY STOCKS AND BONDS.
47
48
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, etc., see notes
on first page of tables.
Columbia & Greenville— See Southern R y .
Columbus & Toledo— See Hocking Valley R y.
Columbus & Xenia— Stock 8 % ren ta l_____________ _
C om bination Bridge (Sioux City la )— First mortgage
Concord & Claremont (N H)— First m ortgage........... c
C oncord & Montreal— Stock Class I (B C & M pref) . .
S tock Class II (B C & M n ew )______________________
Stock Class III (B C & M old s to c k )____ __________
S tock Class IV (Concord) $6,000,000 auth ( t e x t ) ..
B oston Con & Mon im provem ent m ortgage_______ c
C oncord & Montreal cons M for $5,500,000 ..B B .c *
Debenture bonds, $1,150,000. c u r r e n c y _________c*
do
do
$500,000 interest guaranteed
C oncord & Portsm outh— Stock 7 % rental 99 yrs Cone
Conn & Passum psic— Pref stock 6 % rental 99 years.c*
First m ortgage $1,900,000 g o ld ............................... .c*
Massawlppl stock guar same dlv as Conn & Passump
N ewport & R ichford 1st M guar b y C & P ______ c*
Connecticut River— Stcek ($3,670,300 au th orized )__
Bonds not mortgage for $ 1 ,000,000 g o ld ___________ c
Bonds not m ortgage______________________________ .
do
do
_________________________________
V Val 1st M with $500,000 S Co R R stock as c o l..e *
Conn (Phila)— Phlla G & Ch H 1st M guar b y P en n ._r
Conn R y 3 M % gold m ortgage $5,000,000_________
C ooperstow n & Susq Val— 1st M $200,000 Int g u a r ..
Copper Range— First m ortgage gold (see t e x t )______
Cornwall & Lebanon— S t o c k .. _______________ _____
First M $800,000 to be extended at 4 % ______ ____ r
Corvallis & Eastern— First M ($11,250,000)____Ce.c*
Cripple Creek Central— C om m on s to c k ...........................
Preferred stock 4 % non -cum ulatlve________________
Midland Term first m ortgage gold sinking fu n d . F.c*
Cuba Eastern— First m ortgage $1,000,000 g o ld -.K .c *
Northeastern Cuba 1st M $1,000,000 g g u p & 1 ..K
Cuba Eastern Term inal first m tge guaranteed____ K
Cuba RR— 1st M gold $20,000 per m ile______ M o.c& r
M iles Date
of
of
Road. Bonds.
55
71
___
Size, or
Par
A mount
Value. Outstanding
$50
500 &c
1,000
100
100
100
.
100
1881
1,000
1,000
1890
'9 7 -’ »9
1,000
1900
1,000
100
100
1893
1,000
____
100
1881
1,000
____
100
1893
1,000
1901
1,000
1903
1,000
1880
1,000
1883
1,000
1902
1,000
1888
100 &c
1899
500 &c
50
1891
100 &c
1898
1,000
100
....
____
100
1895
1,000
1903
1,000
1906
1,000
1905
1,000
1902 1,000 &c
1895
1894
_ ....
__
_ __
166
262
_ _
40 ^
110
37
22
80
_
_
24
7
37
19M
T ext
26
26
___
___
...
41
43
53
___
408
O F F IC E R S .— Chairman, Grenville M. D odge, N . Y .; Pres., Frank Trum
bull, N. Y .; Gen. M gr., Joseph H . Y ou ng, D enver, Col.; Sec. and T reas.,
James Steuart M acK ie, 71 B roadw ay, New Y ork.
Directors— Grenville M. D odge, H enry Budge, James N. W allace, John J.
Em ery, B. F. Y oaku m , Edwin H aw ley, Frank Trum bull, H enry E. H unt
ington, W . S. Crandell, Norm an B. R eam , Hans W interfeldt and H arry
Bronner, New Y ork City; H enry W alters, Baltim ore, M d.— (V .8 4, p .748.)
COLORADO SOUTHERN NEW ORLEANS & PACIFIC R R .— (See S . L .
& S. F . M a p .)— Baton R ouge, L a ., to H ouston, T ex ., 303 m; to be com
pleted by Sept. 1907; from Baton R ouge to have 111. Cent, trackage to New
Orleans, 130 m. Extension is proposed from De Quincy to H ouston, T e x .,
137 m ., to Include Kansas C ity Sou. trackage between De Quincey and
B eaum ont, T ex ., 47 m ., and the Beaum ont Sour Lake & W estern R R .,
B eaum ont to Sour Lake, 22 m ., and the Orange & Northwestern R R .,
N ew ton to Orange, T e x ., 61 m ., acquired.
In April 1906 the St. Louis & San Francisco acquired the road, $8,500,000
o f the bonds being deposited as security for $7,500,000 St. Louis & San
Francisco notes. V . 82, p. 928. Stock authorized, $ 2 ,000,000; par of
shares. $100. Bonds, see table above. V . 82, p. 509, 868. Equipm ent
trust notes, guaranteed by St. Louis & San Francsco, V . 84, p. 507. Old
bonds o f com panies acquired for which St. Louis & San Francisco general
lien bonds o f 1907 are reserved: $424,000 Orange & W estern first 30-year
5s, due Sept. 15 1933, and $170,000 B eaum ont Sour Lake & W estern first
6s, maturing J u ly 1 1935. Pres., C. C. Cordill, N ew Orleans, L a .— (V . 82,
p. 986; V . 84, p. 449, 507.)
COLORADO SPRIN GS & C R IP P L E CRE E K DISTRIC T R Y .— Colorado
Springs to Cripple Creek, C ol., 46 m .; branch, Cameron to V ictor, 5 m .;
other branches and spurs, 24 m .; total, 75 m ., of which 59 m. steam , 14 m.
steam and electric and 2 m. purely electric. In Jan. 1905 Colorado &
Southern acquired all the stock except $900 com . V . 80, p. 472, 1111, 1423.
S tock , all outstanding, com ., $1,200,000; p ref., 5 % , non -cum ., $800,000.
Par o f shares, $100 each. Sinking fund can retire first m ort. bonds yearly
at 110 for the first 15 years, then at 107 ^ for 5 years, then 105 for the next
five years, then 102 H for three years, thereafter at par. V . 76, p. 345.
E A R N IN G S .— For year ending June 30 1906, gross earnings, $1,118,172;
net Incom e, $587,164; total deductions, $401,024; dividends, $124,000;
b a l., sur., $62,140. Earnings are now included in those o f Col. & Sou. R y
system . Pres., Frank T ru m bull.— (V . 81, p. 725.)
COLU M BIA N EW B ER R Y & LAU REN S R R .— Columbia to Laurens.
S. C ., 75 m . S tock , $500,000. Bonds were 6s, but re-issued as 3s In 1900
under agreem ent, certificates o f Interest to am ount to 40 % o f bonds being
Issued bearing interest. If earned.
E A R N IN G S — 11 m os., 11906-07................ Gross, $294,012; net, $41,126
J u ly 1 to May 31.
/1 9 0 5-0 6_________ Gross, 271,445; net, 50,576
Year ending June 30 1906, gross, $289,120; net, $51,748; Interest, $28,385; b a l., sur., $23,363. P res., W . G. Childs, C olum bia, S. C.
COLUMBUS & LAKE MICHIGAN R R .— V . 82, p. 803.
COLUMBUS & SOUTHERN R Y .— W ya n d otte, O ., at a connection with
the Penn. R R ., to South B loom ingville, 34 m . In N ov. 1906 control was
changed, an extension being under construction north to Lancaster: exten
sion abou t 200 miles to Portsm outh p rop osed , o f which abou t 100 miles
were let. V . 83, p . 1290. Successor to the Colum bus W ellston & Southern
R R ., sold In foreclosure on D ec. 4 1901. V . 73, p. 206; V . 75, p . 184.
S tock authorized, $2,000,000. For year ending June 30 1906, gross, $13,542; oper. d ef., $122; total deductions, $535; b al., d ef., $657.— (V . 82. p.
1379; V . 83. p. 1290.)
COLUMBUS & X E N IA R R .— Owns^from Colum bus, O ., to X en ia, O .,
55 miles. Operated as a division o f the Little Miami, and Is leased for 99
years from D ec. 1869, In con nection with that road, to the Pittsburgh Cin
cinnati Chicago & St. Louis, which pays 8 % on stock. The lease Is guar
anteed b y Pennsylvania R R . Co. D ividends, 2-5 % per annum , from assets,
were discontinued In 1901.— (V . 72. p . 532.)
COMBINATION B RID G E (S IO U X C IT Y , IA .)— Owns Steel bridge 1,940
feet long over Missouri R iver, with approaches, 1 m ile, used b y railroads
and street cars and as a highway. S tock, $1,500,000. Mort. trustee. Union
Trust C o., Indianapolis, Ind. P res., Jos. C. H ead, L atrobe, P a.; S e c., F.
L . E aton, Sioux C ity, l a .— (V . 78, p. 102, 286.)
CONCORD & MONTREAL R R .— From N ashua, N . H .. via C oncord,
P lym ou th , & c., to G roveton and the W hite M ountains, 450 miles In all, in
cluding Manchester & K eene, 30 m ., owned Jointly, 414 m .; 35 m. double
track. Owns Concord Street R y ., 13 m .; also electric branch from Concord
to Manchester, N . H ., 17 m.
In 1907 the Nashua & A cton R R . was Incorporated with $500,000 auth
orized stock, to purchase the Nashua A cton & B oston, 20 miles, acquired
at foreclosure sale March 7 1906; the stock when Issued will be all owned
b y the Concord & Montreal. V . 84, p. 449, 391; V . 82. p. 568.
On June 29 1895 leased to Boston & Maine for 91 years at rental o f 7 %
per annum on all stock .— (V . 78, p. 286; V . 82, p. 568; V . 84, p. 449.)
CONCORD & PORTSMOUTH R R .— Owns Portsm ou th , N. H ., to M an
chester, N. H ., 40 X m . Leased to Concord R R . In 1862 for 99 years; rental,
$25,000; 7 % on stock and org. exp . Operated b y B oston & Maine.
CONNECTICUT & PASSUM PSIC R IV E R S R R .— W hite R iver J e t.. V t .,
to Canada Line, 110 m .; leases 999 years Massawlppl V alley, 37 m.
L E A S E .— From Jan. 1 1887, leased to the Boston & Lowell for 99 years
on a basis to pay C. & P. stock 5 % till Jan. 1897 and 6 % thereafter.
S E C U R IT IE S .— Massawlppl stock receives same dividends as stock o f
lessee and $400,000 o f it (not Included in the am ount outstanding) Is pledged
as part security for 4s o f 1893. O f the $2,500,000 p ref., $500,000, as also
$50,000 Massawlppl Valley R y. stock, are represented b y Connecticut Trust
& Safe Deposit Co. o f H artford 5 % trust certificates, under which the V er
m ont V alley has the right, for 45 years from A ug. 1 1885, to purchase the
trust stock at par and interest and In the m eantim e receives all dividends
a b ov e 5 % per annum on the stock deposited In trust.— (V . 57, p. 1040.)
CONNECTICUT R IV E R R R .— Owns from Springfield, Mass., to Keene,
N. H .p74 ra.; Bellows Falls to B rattleboro. V t ., 24 m .; branches, 6 m .: tota l,
104 m .. o f which 50 double-tracked. Controls Sullivan Co. R R .. Bellows
Falls to W indsor, V t., 26 miles. V . 80, p. 1478; V . 81, p. 899, 1723.
$1,786,200
500,000
500,000
800,000
540.400
459.600
5,647.600
500,000
5,000,000
1,050,000
473.000
350,000
2,500,000
1.900,000
400,000
350,000
3,1 18,000
1,000,000
290,000
969,000
800,000
1,000,000
991,000
200.000
2,025,000
800,000
764,900
1,410,000
2.500,000
3,000,000
4 25,000
1,000,000
900.000
200,000
6,299,000
IV o l . l x x x v .
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
See text.
5
4X
7
7
7
7
6
4
3M & 4
3^
7
6
4 g
6
5
10
4 g
3H
3H
5
4H
3H g
5
5 g
See text.
4
4 g
See text.
4 in 1906
5 g
6 g
5 g
6
5 g
Q— M
& J
& J
Q—J
Q— J
Q— J
Q— J
J
& J
J
& D
J & D
J
& D
J & J
F & A
A & O
F & A
J & J
J & J
M & S
J & J
J & J
A & O
M & N
M 15 & S
M & N
A & O
.1 & J
A & O
F & A
Q — J 25
q —J 25
J
& D
M & S
M & S
F & A
J & J
J
J
Where Payable, and by
Whom.
Bonds— P rin ci
pal, When D u
Slocks— Last
Dividend.
Treasurer, Columbus, O June 7 1907 2%
Hanover Nat B k, N Y
July 1 1915
First Nat Bank, Boston Jan 1 1914
Checks mailed
July 1 19071 54
do
July 1 1907 1 %
do
July 1 1907 1 %
do
July 1 1907 1 %
Faneuil Hall B k, Boston Jan 1 1911
Safe Dep & Tr Co, Bost June 1 1920
Bost S D & T r, Boston June 1 1920
do
do
June 1 1920
Manchester, N H
July 1907 3
%
Safe Dep & Tr Co, Bost Aug 1 1907 3 %
do
do
April 1 1943
do
do
A ug 1907 3 %
do
do
Jan 1 1911
B oston, Mass
July 1 1907 5 %
do
Sept 1 1943
do
Jan 1 1921
do
Jan 1 1923
Safe Dep & Tr Co, Bost Oct 1 1910
Broad Street Stat’ n, Phil May 1 1913
do
do
Mar 15 1932
Nat Bk, Cooperst’ n, N Y May 1 1918
Boston, Mass
Oct 1 1949
C o.’s Office, Lebanon, Pa Jan 31 1907 4 %
do
do
April 1 1921
New York City
Feb 1 1998
Checks mailed.
July 20'07 1 H %
do
Juiy 20 1907 1 %
Farmers L & Tr Co, N Y Dec 1 1925
Knickerbocker T r C o.N Y Mar 1 1933
do
do
Mar 1 1955
do
do
Feb 1 1925
M orton Trust Co, N Y
July 1 1052
L E A S E .— Leased for 99 years from Jan. 1 1803 to the Boston & Maine,
annual rental (as amended O ct. 10 1895) being 10 % per annum on capital
sto ck , payable directly to stockholders: also Interest on bonds and scrip and
$2,000 for organization expenses. Lessee pays all taxes, operating e x
penses, & c., but lessor to issue its stock or bonds for perm anent Im prove
m ents.— (V. 81, p. 899, 974, 1723; V . 83. p. 625.)
CONNECTING R Y . (P H IL A D E L P H IA ).— Owns from a Girard A ve. to
Frankfort J e t., P a ., 7 m .; N orth Phila. to Chestnut H ill, 7 m .; branches,
& c.. 23 m .; total, 37 m. V . 73. p. 390. Stock authorized, S5,800.000; o u t
standing. $3,613,650; all owned b y Pennsylvania R R . Dividends 1902
to June 1907 inclusive, 4 % yearly (J & D ).— (V . 75, p. 1354.)
COOPERSTOWN & CHARLOTTE V A L L E Y R R .— (See M a p D el. &
H ud.) — Owns Charlotte Crossing to D avenport Centre, 4.51 m .: leases for 99
years from Jan. 1 1889, Cooperstown & Susque. V alley R R ., Cooperstown
to Charlotte Crossing, with branch to Cooperstown Jet., 19.48 m ., guaran
teeing Interest on latter’s $200,000 5 % bonds. S tock , $45,000, acquired
July 1903 b y Del. & H ud.— (V . 77, p. 88.)
COPPER RANGE R R .— Calum et, M ich., to Mass C ity, with branches,
tota l, 82 m .: side tracks, 33 m. S tock, $4,003,700, o f which $1,398,600
owned b y Copper R ange Consolidated (Mining) Co. Bonds lim ited to
$20,000 per mile o f main line and branches and $15,000 per mile of sidings.
O f the $2,025,000 bonds outstanding, $615,000 were in Jan. 1907 held in
the treasury o f the Copper Range Consolidated Co. V . 78, p. 228.
E A R N IN G S .— 11 m os.,1 1906-07______ Gross, $658,490; net, $222,117
J uly 1 to May 31.
J1905-06______ Gross, 560,916; net, 21S.446
Surplus over interest charges, $137,743 in 1906-07, against $134,072.
Year ending Dec. 31 1906, gross, $742,807; net, $269,449; Interest,
$101,250; balance, surplus, $1618,199. Pres., W illiam A . Paine; Sec. and
Treas., Frederick Stanw ood, B oston.— (V . 78, p. 228.)
C O R N W A LL R R .— V . 74. p. 1139.
C O R N W A LL & LEBANON R R .— Owns Lebanon, P a ., to Conewago*
21.66 m .; branches, 4.78 m . In June 1901 the Pennsylvania Steel Co.
acquired $540,000 stock, nearly all the remainder being owned by the L ack,
awanna Steel Co. V . 72, p. 1241, 1283.
D IV S .— 1 T o 1893.
’94. ’95. '96. '97. 'w8. ’9 9 . ’0 0 . ’0 1 . ’02 to ’06. ’07.
Per cent _ .J 4 to 4 34 y ’ly
2
4
4
3
4 4M
5
6 y ’ly Jan. 4
BON DS were called for paym ent on O ct. 1 1906 and interest reduced
from 5 to 4 % . V . 82, p. 1322.
E A R N IN G S .— 10 m o s .,fl9 0 6 -0 7 _______ Gross, $403,529; net, $206,665
July 1 to April 30.
(1905-06_______ Gross, 373,031; net, 203,980
Surplus over charges, 10 m onths, $169,618 in 1906-07, against $162,419.
1905-06, gross, $442,026; net, $238,398; other incom e, $405; charges,
$50,279; dlv. (6 % ). $48,000; b a l., sur. $140,524.— (V. 84, p. 270.)
C O R V A L LIS & EASTERN R R .— Owns Yaqulna to Idanah, O re., 142
miles. Land grant was 850,000 acres. Successor in 1897 o f Ore. Central <S»
Eastern, and so o f Oregon P acific, foreclosed Dec. 1894. In June 1907
reported as sold to Southern Pacific Co. V . 84, p. 1427. S tock, $11,250,000; outstanding, $1,410,000. Mortgage provides for extension.
E A R N IN G S .— In year ending June 30 1906, gross, $175,312; net, $61,576; total deductions, $66,918.— (V . 77. p. 2159; V. 84, p. 1427.)
COTTON B ELT.— See St. Louis Southwestern R y.
C R IP PL E CRE E K CENTRAL R Y .— D ivide, C ol., to Cripple Creek and
Florence, & c., 76 m .; V ictor to Vista Grand, 6 m .; branches and spurs to
m ines, dfce., 46 m .; tota l, 128 m ., o f which 57 m. standard gauge. Con
trols Midland Terminal R y ., Florence & Cripple Creek R R ., Golden Circle
R R ., Canon City & Cripple Creek R R ., Colorado Trading & Transfer C o.,
See V . 69, p. 851, 1011, 1103; V. 72, p. 984; V . 74, p. 880; V . 77, p. 1542.
Reorganization per plan In V . 78, p. 2018; V . 77, p. 1542, o f the Denver &
Southwestern, foreclosed O ct. 4 1904. V . 79. p. 1461.
STOC KS A N D B O N D S.— Com m on stock. $2,500,000; 4 % non-cum . pre
ferred stock , $3,000,000: par o f shares, $100. In May 1906 a syndicate
represented by Kessler & C o.acquired a m ajority o f stock . V .8 2 , p. 1156.
D IV ID E N D S .— On pref. 3% paid July 20 1905; O ct. 25 1905 1% (qu a r.);
Jan. 1906 to July 1907. 4% yearly (1% (Q -J .). On co m . O ct. 25 1905. 3%
from earnings of year ending Sept. 30 1905; in 1906, J an ., 2 H % . Including
\\4% extra; A pril, 2 % . Including ^ % extra: J uly, 1 H % : O ct., 1 H % ;
1907, Jan., 1 H % ; April, 1 H % : J u ly, \ V i% .
R E P O R T .— Report for year ending June 30 1906 In .V 83. p. 1167
showed gross earnings of railroads controlled, $901,984; net Income o f rail
roads over charges, $328,846; total net Income above general expenses,
$336,755. T otal available Income of parent com pany (Including $167,689
past-due Int. coupons received and $909 bal. on hand July 1 1905) was
$457,558; d iv. on pref. stock (6 % ), $180,000; d iv . on com . ( 7 H % ) ,
$187,500; total surplus, June 30 1906, $90,058. Pres., Henry M. Blackmer; V lce-P res., R . E. F. Fllnsch; Sec. and T reas., John Gorlow . D irec
tors. V . 79, p. 1461; V . 82, p. 1156.— (V . 83, p. 1167.)
CUBA EASTERN R R .— Owns from port o f Bogueron at Granadlllo B ay,
on south coast o f Cuba, northwest via Guantanam o to forest lands ow ned by
the Cuba H ardw ood C o., 43 miles; leases for 99 years Northeastern Cuba R R
from San Pre to San Ltjls, 47 miles, with 6 miles o f branches; to be exten d ed
even tu ally to Nipe Bay on the north shore o f Cuba; also branch to be bu ilt
from San Luis to Palma Soriano, at once, and later to Manzanillo.
Has 5-year contract with Cuba H ardwood Co. V . 76, p. 1355. S to ck
$2,000,000, all outstanding. Bonds (see a bov e); Northeastern Cupa guar
anteed bonds, V . 82, p. 162. Pres., H. W . B ennett. O ffice, 20 B road
S t.. N. Y .— (V . 76, p. 1355; V. 82. p. 160.)
CUBA R R .— Owns from Santa Clara, Cuba, to Santiago de C uba. 356
miles: branches Zaza Jet. to Sanctl Splrltus, 8 miles; A lto Cedro to the
Bay o f N ipe, 31 m .; Ponupo branch, 11 m .; J atlbonico branch , 3 m.
H olguy branch, 12 m iles; tota l, 421 miles. See V . 75. p. 1157, 1347.
Extension is to be built from Santa Clara to H avana, 170 miles. V. 82,
p. 1322. R oad opened Dec. 8 1902. G ov t, loan, $798,450, o f which the
remaining one-third was paid Dec. 1906; any balance not repaid b y G ovt,
transportation service to be paid D ec. 15 1916 w ithout Int. V . 83, p. 1093.
Stock authorized, $10,000,000 each o f com m on and 6% non-cum . pref.;
outstanding, com m on. $6,126,000; preferred, $10,000,000: par o f shares,
$100. Bonds, see table above.
J u l y , 1907.]
R A IL R O A D S .
For explanation of column headings, &c.
on first page of tables.
Cumberland Corporation— N otes____________________N
Cumberland & Pennsylvania— 1st M gold gu ar____G;
Cumberland Valley— Com m on s tock _________________ |
Preferred stock ($243,000 2d pref)
(Bonds see text) ]
Debentures $500,000 redeem beginning April 1908 . .
Dayton & Michigan— Com Stock (3 3^ % guar C H & D)
Preferred (8 % guaranteed C H & D) endorsed ____
First m ortgage guar p & i endorsed b y C H & D — c!
Dayton & Union RR— First M sink fund (not drawn) _c
Dayton Union Ry— First M sinking fund call at p a r ..F
Delaware— S tock ____________________________________
General mortgage g o ld ______________________FP.c*
Delaware & Chesapeake 1st M assumed currency . . c
Delaware & Bound Brook— Stock 8 % guar Phll& Read
First m ortgage $ 1 .8 0 0 ,0 0 0 .-------- ----------------------PeP
Del & East— D& E R R 1st M $1,000,000 g ___________
New m ortgage $6,000,000 g o ld _____________________
Delaware & Hudson— Stock $55,711,500 (t e x t )______
First M on Pennsylvania Dlv ($10,000,000) . Un.c&r
S chenectady & Duanesburg first m ortgage_________
A dirondack 1st M gold guar p & i e n d ____Us.c*& r
Debentures $14,000,000 gold convert (see text)c*& r
Car trusts $150,000 payable May y e a r l y _____ Usm
Equipm ent deb $2,500,000, $200,000 annually Jan 1
E quip 1st lien bonds $10,000,000 gold s f- I s m .ic * &r
Guaranteed Securities—
Hudson Coal Co deb guar p & 1 end part due yearly
Bluff Point Land Im provem ent Co 1st M gold guar c*
Chat Ore & I refunding m ortgage call 105 N____ c* &r
A lbany & Susquehanna R R , N Y & Canada R R ,C h
Delaware Lackawanna & W estern— S tock ----------------Cons M (now 1st) on road & equip ($10,000,000) F.c
Delaware Md & Va— Junction & B— first m ortg a g e..
Break & Frank 1st M to State red after Jan 1 8 9 5 ..
Other m ortgages---------------------------------------------------- c*
Del River RR & Bridge— 1st M gold guar p & i.G P .c*
Denver Northw & Pac— 1st M $22,500,000 gold .M e.c*
M iles ! Date
of
of
Road. Bonds.
1906
1891
1905
1871
142 1881
32| 1879
1899
248
117 1892
54 1882
S ize, or
Par
Amount
Value. Outstanding
$ 1,000
50
50
.............50
50
1,000
1,000
1,000
25
1 ,000
1,000
100
‘ 34
49
1905
1906
1907
1877
1874
1892
1906
1899
1900
1907
194
39
19
'i o
126
1,000
‘ *5*00* *&C
100
1,000 &c
100 &c
1,000
1,000
1,000
10 000
1,000
$15,000,000
1,000,000
1,292,950
484,900
282,000
2,401,9 SO
1,211,250
2.728.000
225.000
473.000
2,987,225
500.000
400.000
1.800.000
1,800,000
See te x t.
See text.
42,399,500
5.000.000
500.000
1.000.000
14.000.000
300.000
1.300.000
10 000.000
.
IN T E R E S T OR D IV ID E N D S .
When
Payable.
Rate
%
5
J & D
M & N
5 S
in 1906
Q— J
8
Q— J
4
A & O
A & O
3H
8
Q— J
5
J & J
7
J & D
J
& J
4 g
& J
in 1907 J
&
4 Yt g J
4
F &
-F
& A
3H g
& J
5 g
5 g
-------------in 1907 Q— Mar
7
M & S
6
!M & S
4
g|M & S
4 g iJ 15 & D
g M 15 &N
4 g
J & J
4y2 g j
& j
1,000
2.150.000
’0 1 -’ 02
4
1890
1,000
300.000
4 g
1.300.000
1,000
1902
4 g
gay & Lake Pla cld R R , Uti ca Cllnto
50 26,200,000 See text.
1,000
3.067.000
7
1877
3
1860
All.
185.000
3
A ll.
200.000
1874
4
650,000
1896
i',656 1.300.000
4 g
1,000 See text.
1902
4 g
R E P O R T for year ending June 30 1906 was in V . 83, p. 1092, showing
gross earnings, $1,619,082; net over taxes, $562,526; bond interest,
$274,665; bal., sur., $287,861. In 1904-05, gross, $1,029,259.
P res., Sir William C. Van H orne; V ice-Pres., Franklin B. Lord; S ec.,
Chas. J. Fay; Treas., James I. Burke. Office, 83 M ontgom ery S t., Jersey
City, N . J.; 80 B roadw ay, New Y ork.— (V . 83, p. 1037, 1092.)
CU M BERLAN D C OR POR ATIO N .— O R G A N IZ A T IO N .— A holding com
pany owning the stock ($2,300,000) o f the Clinchfield Corporation (V . 80
p. 2346, 2222, 224), which owns 300,000 acres o f coal lands In Virginia and
W est Virginia, the stock of the South & W estern R y . and a b lock of the
Seaboard Co. stock (see the tw o com panies last named In this Section.)
S tock, com m on, $25,000,000; 6 % p ref., $15,000,000, all paid in. In
July 1906 sold $15,000,000 notes (see above) to com plete the South &
W estern to a connection with the Seaboard Air Line R y . at R utherfordton,
N. C ., a distance o f 107 miles, giving via the Seaboard a new outlet for the
Clinchfield coal. V . 83, p. 155.
C U M BERLAN D & PE N N SYLV A N IA R R — Owns from Cum berland,
M d., to P ied m on t,W .V a ., and several branches, 57 miles. Owned and op
erated b y Consolidation Coal C o., which guarantees b y endorsem ent the
first m ortgage. V . 52, p. 390. S tock , $1,500,000; par, $100. F or year
ending June 30 1906, gross, $1,018,310; net, $564,075; charges, & c., $518,843; balance, surplus, $45,232.
C U M BE R LAN D V A L L E Y R R .— Pennsylvania R R . Jan. 1907 ow ned
$975,850 com . and $237,200 pref. and In Dec. 1906 offered to give In ex
change 3 shares o f Its stock for one share o f Cumb. Val. V . 83, p. N469.
There are $88,000 8 % bonds m aturing April 1 1908.
D A LLA S CLEBURNE & SOUTHWESTERN RY — Owns E gan, on M o.
K an. & Texas R R ., to Cleburne, 10 miles. Operated from D ec. 1 1902.
Extension proposed from Egan to Dallas, 27 miles, and from Cleburne to
Glenrose, 50 miles. Leased to M o. K an. & Texas R y . V . 76, p . 48.
Bonds authorized, $150,000 1st m ort. 30-year gold 5s, due Jan. 1 1933.
In A ug. 1906 the Texas R R . Comm ission authorized $145,000 bonds. V .
83, p. 213. Pres., B. P. M cDonald, Cleburne, T e x .— (V . 83, p. 213.)
DAYTON & MICHIGAN R R .— Owns D a y ton , O ., t o T oledo J e t., O.
141 miles; trackage Into T oled o, 1 H miles.
Leased May 1 1863 In perpetuity to Cin. H am . & D a yton . R ental Is In
terest and sinking fund and 8 % on pref. stock and 3
% on com . Guaranty
on pref. is secured b y m ort. o f 1871, but the pref. carries no votin g pow er.
V . 56, p. 813. M ort. o f 1856 Is held alive under m ort. o f 1881.
DAYTON & UNION R R .— Owns from D odson, O ., to U nion C ity, In d .,
32 miles; leases D ayton to Dodson, 15 miles; total operated, 47 miles. O p
erated b y Clev. Cin. Chic. & St. L ., which, Jointly with the Cin. H am, &
D ayton , owns the $86,300 stock. All surplus earnings over interest goes to
a sinking fund for redem ption of bonds at not above 100. Year ending
June 30 1906, gross, $135,099; net, $24,277; other incom e, $10,284; charges,
$35,980; deficit, $1,419.
DAYTON UNION R Y .— U nion depot at D a y ton , O . Used b y P itts.
Cin. Chic. & St. L ., Clev. Cin. Chic. & St. L ., Cin. H am . & D ayton , D ayton
& U nion R R . and Erie R R . under lease which provides that Interest on
bonds and other expenses be divided between them on train basis. S tock ,
$321,000, all com m on. Pres., M. E. Ingalls: S ec., W . F. Stark; T reas., J.
E. H ow ard. Office, C incinnati, O.— (V . 73. p. 1312.)
D E E P W A T E R R Y .— See Virginia R ailw a y.
D E L A W A R E R R .— (.See M a p s Pennsylvania R R .)— Shellpot Crossing,
D el., t o Delm ar, M d ., 95.22 miles; branches, Centrevllle, M d ., to Tow nsend,
D el., 35.11 miles; C layton, D el., to O xford , M d., 54.23 miles; Seaford, D el.,
to Cam bridge, M d., 32.92 m .; Masseys, D el., to Chestertown, M d ., 20.38 m .,
other branches, 10.39 m .; tota l, 248.25 miles. V . 67, p . 1356.
Leased till May 1 1927 to the Philadelphia Baltimore & W ashington,
which owns $1,664,475 o f the stock: rental net earnings— see V . 64, p . 1000.
Dividends 1898 to July 1 9 0 6 ,6 % yearly; 1 9 0 7 .8 % . In year ending
O ct. 31 1906, gross, $2,478,390; net, $621,020; other Incom e, $53,111; In
terest, taxes, &e., $167,060; dividends (7 % ), $209,105; b a l., sur., $297,966.
transferred to extraord. expend, fund.— (V . 83, p. 1523.)
D E L A W A R E & BOUND BROOK R R .— Owns from B ound Brook
(Central o f N. J.) to Delaware R iver, 27 miles: branches to Trenton, 7 m .;
second track, 27 m .; third track, 8 m .; all track. 87 m. In May 1879 leased
for 990 years to Phila. & R eading R R . R ental, $213,000, paying int. and
8 % on stock; lease assumed b y Phila. & Reading R y .— (V . 81, p. 210.)
D E LA W A R E & EASTERN R Y .— T o extend from H ancock, N . Y ., on
Erie R R ., to S chenectady, N. Y ., 157 miles, with branch to Andes, 9 miles,
o f which East Branch to A rkville, 40 miles, operated April 1907. A co n
solidation May 1907 per plan V . 84, p. 931, 1182. Stock authorized,
$5 000,000 in $100 shares and bonds $6,000,000 o f 50-year gold 5s. O f the
bonds $1,750,000 are to be used to take up the old bonds ($1,000,000) and
stock ($600,000) o f Del. & East. R R . and refund its notes and floating debt;
balance to be used to com plete the proposed road. Pres., F. F. Searing.
O ffice, 7 W all Street, New Y ork .— (V . 84, p. 931, 1182; V . 85, p. 40.)
D E L A W A R E & HUDSON CO.— (See M a p .) — Operates railroad lines
from W ilkesbarre, P a ., via A lb a n y , N . Y ., to R ouse’s P oin t, on Canada
line, with branches, 821 miles In all. V . 68, p. 871.
Lines owned—
M iles. I Linee leased— 'S ee these cos. M iles.
Lackawanna & Susquehanna_____ 2 2 1‘ A lbany & Susquehanna_________ 142
Valley R R . o f P a................................17
New York & C a n a d a ................... 150
H onesdale B ranch________________ 28 •Rensselaer & Saratoga_________192
S chenectady & M echanlcvlile------ 10 •Chateaugay & Lake Placid R R . 80
Cherry V al. Sharon & A lbany ..2 1 •Union R R . ...................................... 21
•Schenectady & Duanesburg_____ 14 •Jefferson R R . (trackage)______ 35
•Adirondack R y __________________ 57 Other line®_______________________ 28
•Cooperst’ n & Charlotte V a l l e y . ..24
Branches and spurs_______________ 2
T otal operated Jan. 1 1907____ 848
Also leases U tica Clinton & Bingham ton and R om e & Clinton R R ., 44 m .,
sub-let to N . Y . Ont & W est. In N ov. 1905 the Quebec Southern, extend
ing from St. Lam bert opposite Montreal, through Sorel to Pierrevllle and
from Noyan Jet. to St. R oberts’ Jet. on the aforesaid line, a total o f 145 m .,
was acquired; an extension will be built from Pierrevllle to Chaudiere J e t.,
49
RAILWAY STOCKS AND BONDS.
Where Payable, and by
Whom
Bonds— P rin ci
pal. When D u e.
Stocks— Last
Dividend.
June 1 1912
M ay 1 1921
July 1 1907 2 %
J u ly 1 1907 2 %
April 1 1925
Apr 1 1907 1 %
July 1 1907 2 %
Jan 1 1911
Dec 1 1909
July 1 1949
July 1 1907 4 %
July 1 1932
Feb 1 1912
May 20 1907 2 %
Aug 1 1955
.Ian 1 1956
1957
Office, 32 Nassau St, N Y Junel5 1907 2 M
Sept 1 1917
do
do
do
do
Sept 1 1924
Mar 1 1942
do
do
June 15 1916
do
do
1908 & 1909
do
do
do
do
1908 to 1914
N ew Y ork
Ju ly 1 1922
Guaranty Trust C o, N Y
Phila & Chambersburg
do
do
do
do
Cincinnati
do
J P Morgan & Co, N Y
A mer E xch Nat B k, N Y
Farmers L & T r C o, N Y
Checks mailed.
Broad St Station, Phlla
do
do
240 South Third St, Phila
do
do
M & N
do
do
do
do
J & J
do
do
J & J
n & Bing R R , C oop & Chari Valley
90 W est Street, N . Y .
Q— J
do
do
M & S
J
& J Broad St Station, Phlla
do
do
J
& J
do
do
F & A Philadelphia, Pa.
M & S New Y ork or Denver
May 1 1908-18
Jan 1 1940
Jan 1 1942
— See those cos
July 20’07 2 3^ %
Sept 1 1907
Jan 1 1932
Jan 1 1932
Overdue.
Aug 1 1936
Sept 1 1952
whence the new Quebec bridge Is reached, a distance o f 92 miles, o f which
49 are under construction. The N apierville Jet. R y ., R ouse’s Point to St.
Constant, 27 miles, was also acquired, and 16 m iles o f trackage. V . 81, p.
1610; V . 83, p. 379; V . 84, p. 338, 623. In 1906 con trol o f the Greenwich
& Johnsonville R R ., 21 m iles, was acquired. V . 84, p. 623.
H IS T O R Y , & c.— This com p a n y was chartered April 23 1823. It Is one
of the largest miners o f anthracite coa l. Coal ow n ed, V . 82, p. 686.
D I V ’ DS— J ’84. '85. ’86. ’87. '88. ’89 to 96. ’97 to ’00. ’ 01 to ’06. 1907.
Since 1883 % 1 7
6
5
5
6 7 yearly 5 yearly 7 yearly Below
D ividends for 1907 fixed at 9 % , payable quarterly. V . 84, p . 51.
G E N E R A L F IN A N C E S .— On M ay 9 1899 the stockholders v oted to set
aside every year, as a sinking fund to retire stock and bonds and guaranteed
securities, an am ount equal to at least 5c. per ton of coal sold, or $175,000 to
$200,000 per annum , to be charged against incom e accou nt each year. (V .6 8 .
p. 926.) See Ordinance In full, V . 68, p. 1180. Coal owned and controlled
Jan 1. 1907, 207,801,964 tons. In 1900 $200,000 stock was retired from
proceeds o f sinking fu n d , $141,800 in 1901, $151,100 In 1902, $100,000 in
1903, $417,100 in 1904, $50,000 in 1905 and $228,500 in 1906.
Stockholders M ay 9 1905 authorized Increase o f $5,000,000 stock for co n
version, at op tion o f holders to A pril 1 1916, o f $10,000,000 A lbany & Susq.
Z }4 % bonds, dated April 1 1906, on the basis o f $500 stock for $1,000 o f
bonds. The bonds were sold at par pro rata to D . & H . stockholders
to refund the A lbany & Susq. 6s and 7s, effecting a material saving o f int.
In 1906 the A lb. & Susq. stockholders brought suit to secure a part o f the
benefit o f this refunding. V . 83, p. 1036; V. 80, p. 1174, 1362. 23431
Stockholders F eb. 19 1906 authorized Increase o f the stock b y $7,000,000
to provide for exchange of an issue of $14,000,000 o f 4 % 10-year debentures
dated June 15 1906, which was subscribed b y stockholders at par. The
debentures are exchangeable for stock at the rate o f $500 stock for $1,000
debentures between June 15 1907 and 1912 Inclusive, the proceeds to be
used as follows: Cost o f electric railway acquisitions (see b e lo w ), $9,600,000;
new equipm ent, $2,400,000; cu t-off around W ilkes-Barre, P a .. $2,000,000.
V . 81, p. 1848; V . 82, p. 687. T o July 1907, $3,353,000 bonds had been
converted.
In Feb. 1905 a half Interest in the stock o f the S chenectady R y ., 116 m iles,
was purchased. V . 82, p. 687. In N ov. 1905 over 99 % of the $5,000,000
stock o f the United Trac. Co. o f A lbany was purchased, the stock being in
Dec. 1906 increased to $12,500,000 to acquire m ost o f the stock and bonds
o f the Hudson V alley (Electric) R y . V . 81, p. 1550, 1610; V . 84, p. 51.
In July 1907 the T roy & New England R y ., 9 miles, was acquired in th e
interest o f the com pany. V. 85, p. 98.
In Feb. 1907 a loan for $6,000,000 to the Q uebec Montreal & Southern,
guaranteed b y the D. & H ., was arranged, represented b y 6 % participation
certificates (denom inations $100,000, & c .), m aturing Feb. 6 and 9 1908,
interest payable quarterly. V . 84, p. 338. The equipm ent lien 4}^s o f
1907 ($10,000,000 issue) have an annual sinking fund o f $650,000 to pur
chase bonds o f the Issue, other securities or additional equipm ent to com e
under the m ortgage. V . 84, p. 1247, 1307.
R E P O R T .— For 1906, in V . 84, p. 623; coal (anthracite) carried in 1906,
8,690,356 tons; in 1905, 9,354,266; in 1904, 8,255,541 tons. A nnual m eet
ing May 1907, V . 84, p. 1182.
Year ending Dec. 31—
1906.
1905.
1904.
Earnings o f railroads................ .............$17,050,029 $16,382,074 $15,071,124
Net (railroads).......................................... 6,379,400
6,198,114
5,875,843
Interest, taxes and rentals___________
2,895,139
3,016,328
2,999,957
Profit from railroads______________ . $3,484,261
N et coa l departm en t------------------------- . 2,097,362
$3,181,786
2,525,957
$2,875,886
2,380,561
. $5,581,623
_
$145,485
280,000
2,867,174
$5,707,743
$1,028,149
$5,256,447
$803,924
2,869,300
2,756,162
Interest on d ebentures.
B alance, s u rp lu s .................................. $2,288,974 $1,810,294 $1,696,361
The earnings o f the coal department in 1906 were $19,619,206; expenses ,
$17,521,844; net, $2,097,362. In 1905, $20,949,555; net, $2,525,958.
O F F IC E R S .— Pres., L. F. Loree; Chairman E xec. C om m ., R . M. O ly
phant; Treas., C. A . W alker; Sec., F. M. Olyphant, 32 Nassau S t., N . Y .
Managex-s.— R obert M. Olyphant, Chauncey M. Depew, John Jacob
A stor, L. F. Loree, W illiam S. Opdyke, J. Rogers Maxwell, Cornelius V an
derbilt, R . Suydam Grant, George I. W ilber, C. A . P eabody, E. H . Harrim an, Dumont Clarke and James A . Linen.— (V. 85, p. 40, 99.)
D E L A W A R E L A CK AW A N N A & W ESTERN R R .— (See M a p .)— Oper
ates main line from H oboken, N. J ., opposite N . Y . City, to B uffalo, N. Y .
410 miles, with branches to anthracite region, & c., 547 miles, viz.:
Lines owned—
M iles. \ Lines controlled and oper'd— M iles.
N. J. State line to New York lin e . 114 1‘ Syracuse Bingham ton & N. Y . _ 81
Branch to N orthum berland_____ 8 0 1Sussex R R -------------------------------------- 31
Lines leased— (See each co.)
H o p a t c o n g ---------------------------------1
‘ Morris & Essex and leased b ch es.176 ! Bangor & Portland R y --------------- 38
*N. Y . Lackawanna & W e s t e r n ..214 Lackawanna & Montrose R R ------ 11
•Cayuga & Susquehanna_________34] H anover & Newport R R ---------------- 7
Greene R R ___________ __________
8 1Erie & Central N ew Y o rk ________18
* Oswego & Syracuse____________ 3 5 1Syracuse & Baldwinsvllle R R --------- 1
‘ U tica Chenango & Susquehanna 971
----•Valley R R . o f New Y o r k ________11 ] T otal operated Jan. 1907------------ 957
H IS T O R Y , & c.— Original com pany chartered In 1832: present title as
sumed In 1853. No sub-com panies (coal and mining) are con trolled, the
railroad owning its anthracite mines. In April 1903 the entire stock o f the
N. Y . & H oboken Ferry Co. was purchased. V . 78, p. 815. New H oboken
term inal was opened Feb. 1907. V . 81, p. 668, 777; V . 82, p. 1098.
D IV ID E N D S — \ '81. ’ 82t0’ 84. ’85. ’ 86to’03. ’04. '05. ’ 06.
1907
Since 1880, % ____ J6M 8 yearly. 7 H 7 yearly. *17 *19 & *20 I n c l.J ly ,7 y,
•The quarterly dividend was Increased from 1% to 2 )4 % in April 1905
an extra 10% was paid In Dec. 1904, 1905 and 1906.
50
[V o l . l x x x y .
KAIL WAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date Size, or
Par
A mount
of
of
Road. Bonds. Value. Outstanding
IN T E R E S T OR D IV ID E N D S .
When ( Where Payable, and by
Payable. I
Whom
Rate
%
_____
Denver & Rio Grande— Stock com m on (see t e x t )..T r
$100 $38,000,000
Preferred stock 5 % non-cum ulatlve $50,000,OOO.Tr
& J Office, 195 B ’w a y, N Y
100 45,761,400 5 in 1907 J
First cons m ortgage for $42,000,000'!
f 1,667 1886
500 &c 33,517,000
J & j|Fourth Nat B ank, N Y
4 g
1,000
6,382,500
& J;
do
do
now first m ortgage)_________ . _ /g o ld _ .U s.c* & r 11,667 1886
4X g J
Im provem ent m ortgage ($5,000 per mile) g . Us.c* &r 1,667 1888
500
8,335,000
& D
J
do
do
5g
& jjM aitland , Coppell, N Y
180 1890
1,000 x2 ,277,000
J
R io Grande Southern first m ortgage guaranteed _Ce
4 g
62 1889
& D
R io Grande Junction first m ortgage guar_____ Ce.c*
1,000
2,000,000
J
do
do
5g
R io Grande W estern 1st M gold (V 69, p 284).C e.c*
657 1889 1,000 &c 15.200,000
& JiM orton Trust Co, N Y
J
4g
First cons M redeem at par (see text) gold .M o.c*
657 1899 1,000 &c 13,481,000
A & O
do
do
4 g
A & O
Utah Central 1st M guar. (V 68, p 724) g o ld ..M o
36 1898
1,000
y650,000
do
do
4 g
Utah Fuel Co 1st M $2,000,000 redeem at 110-M o
1901
1,000
771,000
M & S
do
do
5 g
Pleasant V alley Coal 1st M s f redeem 115____ Mo
1898
1,000
1,094,000
& J:
J
do ,
do
5 g
E quipm ent bonds Series A gold $75,000 due seml-an
1,000
975,000
1903
4 « g M & N Blair & Co, New Y ork
Denver Yellowstone & Pacific— 1st M $8,750,000 gold
1,000 See text.
5 g
1906
J & J Internat Tr Co, Boston
Des Moines & Fort Dodge— C om m on s t o c k __________
100
4,283,100
Preferred stock 7 % non-cum ulatlve________________
100
763,500 5 in 1907 August 25 Broad Street, N Y
First m ortgage gold guar prln & interest-_C e.c*& r
1,000
3,072,000
143 1905
& J Central Trust C o, N Y
J
4 g
Second M $1,000,000 gold redeemable at 105___Ta
1906
1,000
600,000
A & O .........
5 g
Des Moi Ia F & No— 1st M $14,000 p m gold r e d . Ta.c*
1,000,000
'7 5 1901
1,000
J & J Trust Co. o f A m er., N Y
5 g
Des Moines Union— 1st M for $800,000 g o ld ____ Ce.c*
4 1887
1,000
671,000
5 g
M & NiCentral Trust Co, N Y
2,000,000
6
1,000
A & O New Y ork and London
Detroit Grand Haven & Milw— 1st equip M guar___c*
189 1878
3,200,000
6
A & O|
Consol m ortgage guaranteed (option— see t e x t ) -.c *
189 1878
200 &c
do
do
Detroit Hillsdale & S W— Stock 4 % rental L S & M S
65
100
1,350,000
4
& J Farmers L & T Co, N Y
J
Detroit Grand Rapids & W estern— See Pere Marquette R R .
Detroit Lansing & Northern— See Pere Marquette R R .
Detroit & Mackinac— Pref stock $1,000,000 auth____
100
950,000 5 In 1907 J
& J H K M cH arg, New York
“ First lien” $1,500,000 gold _________________ Mo.c*
All.
1,000
1895
1,050,000
J & D J P Morgan & C o, N Y
4 g
"M ortgage bonds” $1,750,000 gold red at p a r.M o c* All.
1 000
1,250,000
1895
& D
do
do
J
4 2
Detroit Toledo & Ironton— Com m on stock $12,500,000
100 12,500,000
First pref 4 % non-cum (pref as to assets) $7,500,000
100
7,500,000
Second preferred 5 % non-cum ulative $ 5,0 00 ,0 0 0 ..
100
5,000,000
1,000
Detroit Southern— Ohio So D iv M ______ _____ Ce
4,4951000
M & SIH B Hollins & Co. N Y
263 1901
4 g
1,000
4,253,000
do
do
General lien & division 1st M $4,253,000 g old _.N .c* All.
1905
& D
4 g
J
Consolidated m ortgage $22,500,000 gold _____ K.c* T ext. 1905
1,000
2,776,400
do
do
4\i g F & A
1,000
5
Notes for Ann A rbor redeem 102 H yea rly_____ Usm
1905
5,500,000
J & DlU S Mort & Tr Co, N Y
E quip trust notes gold (V 82, p 99) $207,000 y r ly .T a
1905
1,000
1,656,000
& D iH B H ollins & C o, N Y
4X e J
D etroit Southern car trusts due $40,000 yearly___
240,000
4H g A & OiM erc Tr & Dep C o, Balt
x O f which $1,677,000 In treasury; there are also $2, 233 ,00 0 not g uarantee d. y Of wh ich $260, 000 In tre asury.
...
...
__
....................
_
__
__
__ _____
Bonds— P rin ci
pal, When D ue
Stocks— Last
Dividend.
J u ly 15'07 2 X %
Jan 1 1936
Jan 1 1936
June 1 1928
July 1 1940
D ec 1 1939
July 1 1939
April 1 1949
Jan 1 1918
Mar 1 1931
July 1 1928
N ov '07-M ay '13
Jan 1 1936
A ug 1 1907 5 %
Jan 1 1935
April 1 1035
July 1 1931
N ov 1 1917
N ov 14 1918
N ov 15 1918
J uly 5 1907 2 %
J u ly 1’07 2H %
June 1 1995
June 1 1995
Mar 1 1941
D ec 1 1955
Aug 1 1980
June-D ee, 1908
T o June 1915
T o Oct 1 1912
A N N U A L R E P O R T -— Annual m eeting is held on Tuesday preceding last
Friday In February. The report for 1906 was in V . 84, p. 445; see also
editorial, p. 421. The follow in g includes all lines excep t Syrac. Bingh.&
N . Y ., Sussex R R ., Bangor & Portland and Lack. & Montrose R R .
1905.
1904.
Year ending Dec. 31—
1906.
Passenger ea rn in gs__________________ $6,216,624
$5,529,002 $5,215,919
Freight ea rn in g s_____________________ 23,245,274 23,224,372 21,568,693
M iscellaneous_________________________ 3,500,981
1,917,379
3,197,690
Is understood, constituting a considerable m ajority of the entire stock.
V . 72. p. 338, 580, 1238; V . 73, p. 506.
D.
& R . G. and R io Gr. W est, own two-thirds of the stock and have given
a traffic guaranty to the W estern Pacific R y . (which see), building from
Salt Lake City to San Francisco. V . 81, p. 845; V . 83, p. 568.
D IV S . s in c e ’911 ’ 92. ’93. ’94. ’95. ’ 96. '97. ’ 98. ’99. ' 00. ’01 to J u ly ’07.
on preferred, % . . J 0
2
0
0
2
2 2 34 4
4
5 yearly
S T O C K .— During 1901-02 pref. stock was Increased from $23,650,000 t o
$44,400,000, to acquire the R io Grande W estern stock. V . 72, p. 775. In
Gross.................... ...................................$32,962,879 $31,951,064 $28,701,991
Dec. 1905 $1,312,709 pref. stock Issued to acquire R io Grande Southern
N et after taxes.............. ..........................$1 2 ,4 9 0,4 38 $13,123,004 $12,049,217
stock, and for Im provem ents, and in Mch. 1907 $48,700 was listed, raising
Coal department (n et)_______________ *3,655,119 *3,295,426 *3,445,477 the am ount outstanding to $45,761,400. V . 84, p. 507.
Other miscellaneous incom e__________
844,255
643,537
696,725
B O N D S.— Consols o f 1886 for $6,900,000 originally reserved for exten
sion to Ogden were available for capital requirem ents, o f which part Issued.
T otal net incom e__________________ $16,989,812 $17,061,967 $16,191,419
V . 73, p. 507. See abstract of m ortgage In V . 47, p. 228.
Interest and rentals_________________ $5,368,196 $5,339,407 $5,324,596
The improvement mortgage abstract was In “ Chronicle,” V . 47, p. 229.
R entals, advances, & c_______________
242,926
196,644
646,233
A bstract of R . G. W . 1st m ort. was In V . 49, p. 237, and statement to
Renewals and betterm ents___________
5,551,619
3,587,486
3,446,719
N . Y . Stock E xchange. V . 50, p. 73; also V . 69, p. 284. Utah Fuel 1st 5s
D ividends ............................... . .
(1 0 % )2 ,620,000(10)2,620,000(7)1,834,000
o f 1931, see application to list, V . 78, p. 1171, 1178, 1548. 2015.
E xtra dividend ( 1 0 % ) . . . ..................... 2,620,000
2,620,000
2,620,000
The R1o G. W . first consol. 4s o f 1899 are secured b y a first m ort., either
directly or by all their securities, on 219 m. of branch lines, and further by
B al., sur., after dividends_________ ,,$587,071 $2,698,429 $2,319,871
a second Hen on 438 m. o f main line and other road, and on all new m ileage
*
Earnings o f the coal department in 1906, $38,564,171; expenses, $34,- to be constructed and rolling stock purchased; also b y a first lien on the en
909,052; net, $3,655,119; 1905, $41,226,647; expenses, $37,931,222; net, tire $10,000,000 stock o f the Utah Fuel Co; $15,200,000 are reserved to
retire 1st M. 4s o f 1939 and additional amounts m ay be Issued at $20,000
$3,295,425; 1904, earnings, $38,593,998; net, $3,445,477.
per m. for future branches and extensions or for underlying liens o f acquired
O F F IC E R S .— Pres., W . H . Truesdale; Chairman o f B oard, Sam ue' roads. See application to list In fu ll, V . 72, p. 537. V. 7 2 , p . 775, 1189.
Sloan; Sec. and Treas., Fred F. Chambers, 90 W est S t., N. Y .
List o f collateral June 30 1906, V . 83, p. 570.
B O A R D .— Samuel Sloan (Chairman), Fredk. W . V anderbilt, W m . H .
Suit as to old bonds, V . 84, p. 1052.
M oore, Eugene Higgins, H enry A . C. T a ylor, J. Rogers Maxwell, Geo. F.
L A T E S T E A R N IN G S .— From J u ly 1 to May 31, 11 months.
Baker, W m . R ockefeller, Hamilton M cK . T w om b ly, James Stillman, M.
11 Months—
Gross.
Net.
Oth. Inc.
Charges.
B al., sur.
T aylor P yn e, Harris C. Fahnestock, Frank W ork, John D. R ockefeller Jr.—
1906-07_____ $19,343,974 $7,268,944 $242,831 $3,875,609 $3,636,166
(V . 83, p. 625; V . 84, p. 445, 449, 931; V . 84, p. 1113, 1551.)
1905-06_____ 17,903,662
6,896,571
245,287
3,796,152
3,345,706
A N N U A L R E P O R T .— Full report for 1905-06 In V . 83, p. 560, 568, In
D E LA W A R E M A R YLA N D & V IR G IN IA R R .— Owns from Harrington
to Franklin C ity, V a ., 78 miles; Georgetown to R ehoboth, D el., 19 miles; cluding the R io Grande W estern. See p. 524.
tota l, 97 miles. Controlled b y Phlla. Balt. & W ash., which owns $326,200
Year end. June 30—
1906.
1905.
1904.
1903.
o f the $526,758 stock (par $25), and so b y Penn_-RR . See V . 50, p. 498.
Average miles operated2,477
2,420
2,398
2,378
In year ending Dec. 31 1906, gross, $314,038; n et.in cl. other Income, $37,Gross earnings.................. $19,686,115 $17,031,507 $16,446,434 $17,304,559
531; Interest, taxes, <Scc., $50,709; balance, deficit for year, $13,178— but Net earnings....................
7,581,943
6,862,547
6,387,991
6,674,709
this does not include interest on floating debt (of $731,890 D ec. 31 1905).
O t h e r in c o m e ...................
262,124
192,133
214,345
209,717
D E LA W A R E R IV E R R R . & B RID GE CO.— Owns a bridge over the
T otal net incom e......... $7,844,067
$7,054,680 $6,602,336 $6,884,426
Delaware R iver near Philadelphia and about 10 miles o f connecting railroad.
Interest on bon d s______ $3,191,907
$3,182,573 $3,170,802 $3,083,404
Capital stock ($1,300,000) Is all owned by the Pennsylvania R R ,, which
737,502
761,038
671,470
662,041
and Insurance____
guarantees bonds, principal and Interest, by endorsement. Dividends: Taxes
Betterm
ents,
&
c..............
1,150,000
283,915
.......................
436,797
Dec. 1900 to June 1906, incl., 4 % yearly (2 J. & D .); Dec. 1906, 3 % ; 1907,
322,185
298,617
305,651
296,420
June, 3 % . Sinking fund, 1 %; bonds cannot be called. Guaranty, V . 63, M iscellaneous..................
D iv. on pref. Stock, 5 % . 2,285,635
2,250,000
2,220,000
2,220,000
p. 1062; 1159; V . 83, p. 1524.
DENISON BONHAM & NEW ORLEANS R Y .— Bonham Jet. to Bon
ham , T e x ., 24 miles. Operated since com pletion. Dec. 1 1901, b y the Mo.
Kans. & iTex. under a 10-yr. con tract. In May 1907 extension from R a
venna to Gilmer, T ex ., about 150 miles, was proposed, bids being asked on
Srst 20 miles. Stock, $50,000. In N ov. 1905 permission was given to
register $325,000 30-year gold bonds; none outstanding Sept. 1906. V . 76,
p. 381; V . 81, p. 1610. Pres., E d. D. Steger; Sec., John W . R ussell.—
(V . 77, p. 823; V . 81, p. 1610.)
DENVER & INTER-M OUNTAIN R Y .— Embraces 27 miles o f track, of
which 22 steam, Denver to R alston, and 5 trolley, Denver to Barnum. E x
tensions are proposed.
V . 78, p . 2334. S tock, $514,300; oar $100.
F or 1904-05, gross. $33,679; net. $12,447. Pres.. Samuel Newhouse;
T reas., F. W . Loveland; S ec., W illiam Morrison.— (V. 83, p 36.)
DENVER ENID & GULF R R .— In 1907 road was taken over b y A tch.
T op . & Santa F e.— (V. 84, p. 1551.)
DENVER NORTHWESTERN & PACIFIC R Y.— Building from Denver to
Salt Lake, about 575 m .. along a line about 100 m. south of the Union Pac.
and 125 m . north o f the Denver & R io Grande. In 1905 113 miles, Denver
to Sulphur Springs, C o l., were opened. Extension from Sulphur Springs to
K rem m llng, 18 m ., was com pleted June 1906, grading being in progress
from Kremm llng to Steam boat Springs. 88 miles, the last-named point
being 364 miles from Salt Lake. See V . 75, p. 289; V . 78, p. 1108; V . 80,
p. 1362. N. W . Terminal R R . proposed. V . 79, p. 1704; V. 81, p. 1315;
V . 82, p. 1211. In June 1905 a syndicate headed by W m . L. Bull of New
Y ork agreed to finance the road. V . 81, p. 155; V . 82, p. 627.
Incorporated In July 1902 with $20,000,000 authorized stock, of which
$10,000,000 pref. 5 % non-cum ., all to be Issued for construction, together
with $20,000,000 o f the $22,500,000 4 % bonds. V . 75 p. 1147; V . 79, p. 102,
P res., D avid H. M offat: V lce-P res., W . G. Evans: Treas., Thos. K eely; S ec.,
F . B. Gibson. Directors. Jan. 1906, V . 82, p. 49.— (V . 82, p. 49, 627,1211.)
DENVER & RIO GRANDE R R .— (See M a p .)— R O A D .— The lines
owned and controlled are well shown on the adjoining m ap.
Miles.
Miles.
R oad owned and operated_____ 2,462
O f the preceding:
R io Gr. Jc. R R ., &c (le a s e d )..
70 Standard gauge________________ 1,619
Narrow gauge o n ly ____________ 913
T otal June 30 1906--------------- 2 532 2d track and 3d rail.......... ........... 208
R io Grand** & Southwestern R R .. Lum berton Station. C ol.. 33 m. south
easterly, Is operated on basis o f 25% o f gross earns. V . 79, p. 907. Tw o
branches, 20 miles, com pleted during 1905-06. V . 83, p. 558.
H IS T O R Y .— Reorganization o f a railway com pany o f same name fore
closed July 12 1886. The R io Grande Junction is leased join tly b y this co.
and the Colorado M idland, and its bonds guaranteed. The Col. Midland Is
controlled b y parties Interested severally In the D . & R . G. and Colorado
& Southern. V . 70. p. 739. The R io Grande Southern Is controlled.
The Missouri Pacific early In 1901 acquired $14,800,000 com m on and
$7,300,000 preferred stock, this, together with the R ockefeller Interests, It
$156,839
$278,537
$234,413
$185,764
Balance, surplus_____
O F F IC E R S .— Chairman o f Board, George J. Gould; Pres., E. T . Jeffery;
Vice-Presidents, Chas. H. Schlacks and A . C. Bird; T reas., J. W . Gilluly;
Sec. and C om pt., Stephen Little. Office, 195 B roadw ay, N. Y .
D irectors— George J. Gould, W inslow S. Pierce, E. T . Jeffery, Edwin
Gould, Howard Gould, A . H. Calef and Arthur C oppell, New Y ork; Charles
H. Schlacks and Joel F. V alle, D enver, C ol.— (V . 84, p. 507, 1052.)
DENVER YELLOWSTONE & PACIFIC R Y .— P rojected from D en ver,
C ol., northwesterly to W alcott, W y o ., on the Union Pacific, about 250 m ..
via Fort Collins Encam pm ent and North Park, of which W alcott to Grand
E ncam pm ent, 48 miles, was to be com pleted during 1906. Projected
ultimately to Boise and Dubois, Idaho, tapping Yellowstone Park.
Stock
authorized, $10,000,000. of which $3,000,000 Is 5 % non-cum . pref. Of the
bonds. $1.650,000 are Issuable on first 48 miles, balance at $35,000 per mile.
V . 82, p. 280. Pres., E . H. Power; S ec., E . S. Chenowlth. O ffice, B oston,
Mass.— (V . 82, p. 280.)
DES MOINES & FORT DODGE R R .— (See M a p M inneapolis & St
L ou is.)— Owns Des Moines to F t. D odge. Ia ., 88 m ., and Tara to R u th ven „
55 m .; trackage, Illinois Central, Tara to Ft. D odge Jet., 6 m ., included
above. On Sdarcb 1 1904 Minneapolis & St. Louis acoulred $2,530,000 of
the outstanding $4,283,100 co m . stock, and guarantees the $3,072,000 first
m ortgage 4 % gold bonds issued to retire all the outstanding bonds which m a
tured Jan. 1 1905; the Minn. & St. Louis leases the road for 30 years from
Jan. 1 1905; all Income over charges. Im provem ents, & c.. to be paid to
lessor. V . 79, p. 268, 1704, 2085. Form o f guaranty, V . 79, p. 2696.
Preferred stock Is entitled to 7 % , non-cum ulatlve, then com m on to 7%
after which b oth share equally.
The stockholders June 8 1906 authorized $1,000,000 second m ortgage
bonds, o f which $600,000 was used to p ay floating debt Incurred for Im
provem ents and refunding, the com m on stock being raised from $4,283,100
to $5,335,600 and the preferred from $763,500 to $1,164,000 to m ake this
possible. V . 82, p. 1322. ,
D IV I D E N D S .—
1
’ 9 3 . '9 4 .
'9 5 . *96 t o '9 8 . ’ 99 to '0 3 . *04 to ’0 7 .
On preferred---------- % /
2
4
4
6 y ’rly.
7 y 'rly . 5 yea rly.
P res.. Edwin H awley: V lce-P res., L. F. D ay; Treas., F. H. Davis: S ec.,
W . S. Crandell. R eport for year ending Dec. 31 1906 In V . 84, p. 1548,
showed gross earnings, $627,528; net, $264,604; taxes and Interest, $173,692;
dividends (5 % ), $38,175; surplus, $52,737.— (V . 82, p. 1211, 1322; V . 84,
p. 1488, 1548.)
DES MOINES IOW A FALLS & NORTHERN R Y .— Iow a Falls. Ia ., to
Des Moines. 75 m .; com pleted A ug. 1903. In Dec. 1905 W m . A . B radford
Jr. o f N ew Y ork acquired con trol. V . 81, p. 1723. The St. Paul & Des
Moines R R . (which see), owned b y the same Interests, Is building a road
from Iowa Falls to Mason C ity, 45 miles, o f which 17 com pleted In Ju ly 1907.
V . 85, p. 160; V . 81. p. 1723.
Stock authorized, $1,200,000; outstanding, $881,400 June 30 1906; par
of shares. $100 each. Bonds are subject to call at 105 on and after July
1 1906; they are limited to $14,000 per mile, with $50,000 additional for
J u l y , 1907. j
RAILWAY STOCKS AND BONDS.
f> 1
52
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, &.C., see notes
on first page of tables.
M iles Date Size, or
Par
of
of
Road. Bonds. Value.
Det & Tol Sh L— 1st M $3,000,000 g gu p & i.M e.c*& r
48
___
Dover & R ockaway— Stock 6 % rental 999 years____
Dub & Sioux City— 111 Cent W lines 1st M g _ . Us.c* &r
218
184
Iow a Falls & Sioux City 1st M Iowa Falls to SiouxCy
Cher & Dak C R & C and Omaha D iv etc 1st M
328
Duluth & Iron Range— First m ortgage______ Mp.c&r
210
Second M currency redeem at 105 $5,000,000__Ce.c*
210
65
Duluth Missabe & Northern— First m ortgage gold S f
First consol M $3,500,000 gold call at 105______ Ce
130
215
General M g o l d ____
___
_________ _______ _.N
___
Oul R L&W in— lstM $ 2 ,000,000 g red 105 b e g ’ l l . I C . c '
uluth So Sh & Atlantic— Marq H & On gen M .C e.c*
156
Ouluth South Shore & A tlantic 1st M gold .C e.c& r
416
First consol m ortgage gold interest guar_Ce.c*& r
572
Incom e certs ($3,000,000 held by Can P ac July 06)
Car trusts D ec 31 1906__________________ ______
Car trusts guar b y Can P ac. due m o n t h ly __________
"30
Dur & So Car— 1st M $300,000 gold red 105___MeBa
Durham Union Station— 1st’ M $75,000 g _____ S c* &r
Dutchess County RR— See Central New E ngland R y .
_
East Mahanoy RR— Stock _ ____ ______
_____
East Pennsylvania— Stock 6 % guar 999 yrs Phlla & R
36
First M gold guar p & 1 b y P & R R R (end)__c*
36
East Tennessee Virginia & Georgia— See Southern R y .
34
East Tenn & W No Car— 1st M $500,000 g o l d .. GuP.c*
Eastern Ry of Minnesota— See Great N orthern______
El Paso & Northeastern— N M R y & Coal M gold ..T a
JlJN M R y & Coal coll trust gold redeem able at 1 0 5 .. N
165
gT'Alam & Sac Mt first M $900,000 gold gu aran teed .. N
31
” •El Paso & R ock Isl first M $2,500,000 g o l d .. Ta.c*
128
^ D a w s o n R y & Coal coll trust gold guar p & !._ Ta.c*
133
El Paso Union Pass Depot— 1st M g $240,000 S f .. T a
EJ tin Joliet & Eastern— First M ($10,000,000) g .C e c*
181
El nira & Lake Ont— Sodus Bay & So— 1st M g .U n .c
34
El nira & W illiam sport— Stock com m on 5 % rental N C 75H
•Preferred stock 7 % rental 999 years Northern Cent 75 34
75^
* -First m o r t g a g e ____ _______________ ____ _________
^ I n c o m e bonds 999 years to ru n_________ . ..............c*
ML*
Includes (a) $208,000. (b )$50,000 in treasury o f 'E l
...
.
__
1903
$1,000
100
1895
1,000
1869
500 &c
.
’8 8 -’00
1887 1,000 &c
1896 1,000 &c
.
1892
1893
1,000
1906
1,000
1,000
1906
1885
1,000
1,000
1887
1890
1,000
1892
1906
1905
1905
__
__
1888
" T o o "&c
1,000
1,000 &c
50
50
1,000
Where Payable, and by
Whom.
Bonds— P rin ci
pal, When Due.
Stocks— Last
Dividend.
Jan 1 1953
A p r 1907 3 %
Aug 1 1951
Oct 1 1917
Oct 1
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
April 1
Jan 1
Aug 1
D ec 31
1937
1916
1922
1923
1941
1916
1925
1937
1990
1912
T o Jan 1911
July 1 1935
May 1 1955
5
6
4 g
J & D 15 R eading Term , Phlla, Pa J u nel5'07 2 !4 %
J
& J Phila & R ead R y , Phlla July 15 ’ 07 3 %
M & s
do
do
Mar 1 1958
5 g
M
&
N Guar Tr & S D Co. Phlla N ov 1 1935
5
5
5
0
5
5
5
5
5
7
6
5
A
A
A
J
J
J
M
J
M
J
J
A
&
&
&
&
&
<Sc
&
&
&
&
&
&
O
O
O
J
J
J
N
J
N
J
J
O
1,000
500,000
2,000,000
a3,000,000
b372,000
2,500,000
3,000,000
240,000
8,500,000
500,000
500,000
500,000
963,000
570.000
stern R y .
__
When
Payable.
497,750
1,730,450
495,000
--------
I860
1863
Paso&
Rate
%
$2,116,000
J & J Merchants T r. Co. N Y
4 e
140,000
6
A & O 143 Liberty St. New Y ork
5,425,000
F & A Office, 11 B ’w ay, N Y
4 g
2.800,000
A <Sc O
7
do
do
8,930,000 Illinois Cjentral bo nds or collateral therefor.
5
A & O Office, Empire B ldg, N Y
6,732,000
6
See text.
J & J
do
do
1.174,000
& J --------------- -----------------------J
6 g
1 275,000
J
& J Central Trust Co, N Y
6 g
5,543,000
J & J C om pany’s office, N. Y.
5 g
2,000,000
5 g
J & J Chase N at B k, N Y : & Chi
1,077,000
6
A & 0 44 W all Street. New Y ork
3,816,000
J & J
do
do
5 g
15,107,000
F & A New Y ork or London
4 g
3,000.000
4
Montreal, Quebec.
236,213
Chicago, 111.
149,984
J
& J
434
300,000
& J Merchants’ T r Co. Balt
J
5 g
54,000
M & N Standard Trust C o. N Y
5 g
1901
1897
1898
1901
1901
1905
1891
1884
Des Moines terminals. The St. Paul & Des Moines in 1907 made a m ortgage
to secure an issue o f bonds. For the year ending June 30 1906, gross, $169,025; net, $33,382; total deductions, $73,303; b a l., d ef., $39,921. P res.,
W .IA . Bradford Jr.: Sec. and Treas., G. A . W . D od ge.— (V . 85, p. 160.)
DES MOINES UNION R Y — Terminal road In Des Moines; owns 4 miles
main track and branches, 14 miles 2d and side tracks, bridge across Des
Moines River and 25 acres of land In Des Moines. See statem ent to N. Y .
Stock Exchange In V . 65, p. 1173. Leased to W abash R R ., Chicago Great
W estern, Chic. Milw. & St. P. R y ., Chic. Burl. & Quincy R R ., Des Moines
Iow a Falls & N or’n R y . and Minneapolis & St. Louis R R . V . 75, p. 342.
Rental equal to expenses and fixed charges paid m onthly b y lessees on
wheelage basis. Stock authorized. $2,000,000; outstanding, $400,000; par,
$100. Year 1905-06, gross, $256,789; net, $55,660; charges, $ 55 ,66 0 .—
(V. 75, p. 342.)
DETROIT GRAND HAVEN & M IL W A U K E E R Y .— (See M a p Grand
Trunk R y .)— Owns from Detroit to Grand Haven M ich., 189 miles. A re
organization of Sept. 1878. The principal and Interest on the bonds are
guaranteed b y the Grand Trunk o f Canada. S tock, $1,500,000; par, $50.
Real estate bonds or m ortgages. $226,000. On D ec. 31 1906 sundry out
standing a ccts., $285,000. Grand TruHk o f Canada owns entire stock.
Decision holding tax lim ited to 1% on capital stock D et. & M. R R .,
V. 82, p. 986.
E A R N IN G S .— 11 m os.,\1906-07..............Gross, $1,630,728; net, $337,652
J u ly 1 to May 31.
J1905-06_______ Gross, 1,455,686; net, 385,734
F or year ending Dec. 31 1906, gross, $1,739,212; net, $442,759; charges,
$360,991; b a l., sur., $81,768.
For 1905, gross, $1,480,903.— (V . 82, p .986.
DETROIT H ILLSD A L E & SOUTHWESTERN R R .— Owns Ypsilantl,
M ich., to Bankers, M ich ., 65 m . Leased in perpetuity July 1 1881 to the
Lake Shore & Mich. Southern R y .; rental, $54,000 per year— 4 % on stock.
D ETROIT M A CKIN AC & M ARQU ETTE R Y .— S E E M ISC. COS.
DETROIT & M A CKIN AC R Y .— Owns from B ay C ity, M ich ., to C heboy
gan, 195 m .; R ose C ity Branch, 32 m .; Prescott Branch, 12 m .; Lincoln
Branch, 14 m .; Au Gres Branch, 8 m .; various logging branches (largely
tem p ora ry), 81 m .; tota l, 343 m. Extension north from Tow er to C heboy
gan 22 m , was com pleted In July 1904. and to be continued to M ackinaw ,
23 miles further. Extension from Alpena to A tlanta, 36 miles, was under
construction April 1907. In 1905-06 carried 1,109,055 tons, o f which
forest products furnished 53.41 % . In 1902 H enry K . M cHarg and asso
ciates acquired control.
B O N D S .— “ Mortgage bonds” for $500,000 were reserved for betterm ents
& c., at not over $50,000 per year. V . 74, p. 629. In addition to the
amounts shown above as outstanding, $450,000 “ first lien” and $200,000
"m ortg a ge” bonds were on June 30 1906 held In the treasury. Equipm ent
notes (5s), $253,333, due $6,667 m onthly to July 1910 inclusive; loans and
bills payable June 30 1906, $210,000.
S T O C K .— The capital stock Is $3,000,000, o f which $2,000,000 com m on
and $1,000,000 5 % non-cum . preferred. See V . 74, p. 629. D iv. on pref.,
2 34 %> July 1 1903; since to July 1907, 5 % yearly.
L A T E S T E A R N IN G S .— ,'1906-07____ Gross, $1,196,444; net, $203,983
11 m os., J u ly 1 to May 31. [1905-06____Gross, 1,049,697; net,
179,336
E A R N IN G S .— R eport for year ending June 30 1906 was in V . 83, p. 1168,
Gross, $1,154,826; net, $281,693; Int., taxes, & c., $198,207; penalty on
back taxes, $30,728; pref. div. (5 % ), $47,500; b a l., sur., $5,257.— (V. 82,
p. 1379; V . 83. p. 969, 1168.)
D ETROIT R IV E R TUNNEL C O — See Michigan Central.
DETROIT TOLEDO & IRONTON R Y .— (See M a p .)— Operates from De
troit, M ich., to Ironton. via Lim a, 381 m ., including 43 m. o f trackage;
branches, Kingm an to Sedalia, O ., 31 m .; Jackson to Cornelia, 20 m ., and
LIsman Jet. to Dean, O ., 3m .; tota l, 435 m .; coal mine tracks, yard tracks
and sidings, 121 m . Outlet for bitum inous coal o f Southern Ohio. In
June 1905 acquired control o f Ann A rbor R R . V . 81, p. 264; V . 82, p. 509.
O R G A N IZ A T IO N .— Incorporated May 1905 as successor, per plan V .
80, p. 650, o f Detroit Southern R R , foreclosed, subject to Ohio Southern
Division m ortgage. V . 80, p. 2344, 1856.
S T O C K .— Com m on stock representing control (par $10 0 )____$12,500,000
1st pref. 4 % n on -cu m ., w ith preference also as to assets and con
vertible at option o f holders into 2d preferred________________
7,500,000
2d preferred 5 % non-cum ulatlve (par $100)_____________________
8,000.000
B O N D S.— Gen. lien and dlvis. 1st 4s are secured b y m ort. on entire sys
tem . including future property, except T oledo terminal.
The consol. 4 J4 s cover the whole system and are also a first lien upon the
stock o f the T oledo Southern R R . and all additional mileage constructed
or acquired b y means o f bonds other than the $2,675,000 first Issue.
The $22,500,000 consols were issuable as follows:
Reserved to retire Ohio Southern Division bon d s________________ $4,500,000
do
do
general lien and divisional 1st M. 4s__________ 4,253,000
do
do
car trust notes________________________________
320,000
Issued for assessment and to syndicate for cash__________________ 2,675,000
Reserved for corp. purposes at not exceeding $750,000 yea rly____ 2,500,000
Reserved especially for extensions, terminals at T oled o or else
where, Ohio R iver bridge or bridges Im provem ents, & c______ 8,252,000
The 5 % notes of 1905 ($5,500,000 present Issue) are secured b y $3,001,000
Ann Arbor preferred and $2,190,000 common stock and $5,000,000 Det. T .
& I . consols. A further $1,500,000 m ay be issued to acquire remaining
A nn A rbor stock. V . 80, p. 2457, 2620; V . 81, p. 155.
R E P O R T .— For year ending June 30 1906 in V . 83, p. 1034, showed:
Entire System (including A n n Arbor.)
Year.
Gross.
Net.
Oth. income. Int. &taxes.
Balance.
1905-06
$4,090,209 $1,343,181 $34,262 $1,217,679 sur. $159,764
1904-05
3.390,892
738,925
15,673
775,193 def.
20,595
Detroit Toledo & Ironton Proper.
1905-06
$1,914,977
$559,630
$5,996
$836,567 def. $270,941
1904-05
1,468,299
153,696
..........
440,590 def. 286,894
IN T E R E S T OR D IV ID E N D S .
Am ount
Outstanding
1905
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
50
50
1,000
500
North ea
[V o l . l x x x v .
g
g
g
g
g
g
g
g
Trust Co. o f A m er., N .Y .
do
do
do
do
do
do
do
do
do
do
71 B roadw ay New York
Nat Bank o f C om m , N Y
Broad St S tation, Phila
do
do
do
do
do
do
O ct 1 1951
Oct 1 1947
April 1 1928
Jan 1 1951
July 1 1951
Jan 1 1916-1936
May 1 1941
July 1 1924
May 1907
July 1907
Jan 1 1910
Oct 1 2862
Interest charge in 1905-06 includes $ 2 7 5 ,0 0 0 interest on collateral trust
notes Issued for Ann A rbor stock. See V . 83, p. 1034.
Pres., Eugene Zim m erm an; Sec. and Treas., G. Caspar Niles. O ffice,
D etroit. — (V. 83. p. 969 , 1034, 1170; V . 84 , p. 56 9 .)
DETROIT & TOLEDO SHORE LINE R R .— E xtends from T oled o to
(suburbs of) D etroit, 47.6 m .; 2d track, 20 m .; sidings, 3 m .; trackage over
T oledo R y . & Terminal C o., & c., 31 m .; total track, 101.6 miles; laid with
80-lb. steel rail. See V . 78, p. 2598.
The Grand Trunk W estern R y . and the T oledo St. Louis & W estern H R .
own the entire stock and join tly guarantee the bonds, principal andjinterest.
b y endorsem ent. See form of guaranty, V . 76, p. 653. The unissued bond*
are reserved for extensions and im provem ents. P res., T . P . S honts.— (V .
77, p. 88, 250, 628; V . 78 p. 2442. 2598.)
DUBUQUE & SIOUX C ITY R R .— (See M ap of Illinois Central.)— Own*
D ubuque, Iow a, to Iow a Falls, 143 miles; Iow a Falls to Sioux C ity, 184 m .;
Manchester to Cedar R apids, 42 m .; Onawa, Iow a, to Sioux Falls, D akota,
155 m .; Cedar Falls to Minnesota State Line (merged by consolidation in
1896), 76 m .; Tara Station, near F t. D od ge, l a ., to Council Bluffs, 130 m .;
total owned, 730 m.
O R G A N IZ A T IO N .— Controlled since April 1887 b y the Illinois Central
R R ., which owns all except a few hundred sha»es o f the $15,000,000 stock
(as Increased June 1900), and has Issued its own bonds on the road; the only
D . & S. C. bonds held by the public are the 7s varied under Iow a Falls <5e
Sioux City m ortgage, $2,800,000. Lease, V . 79, p .T ^ 7 4.
D IV ID E N D S SIN CE 1894.— 1895, D e c., 1; ’ 96 3; ’ 37, 2; ’ 98, 3 ^ 1 ’99, 3;
1900, 3; 1901, 1 H : 1902, Jan ., 1.— (V. 70, p. 1290.)
DULUTH & IRON RANGE R R .— Owns Duluth to E ly , M1nn., 119 miles,
with branches to Mesaba R ange Mines, F ayal, &c , 65 m. Owns ore docks
and yards on Lake Superior costing over $1,500,000.
S T O C K , & c.— Stock authorized, $10,000,000; outstanding $3,000,000par $100. Land grant from Minnesota about 506,000 acres, o f which
201,790 acres had been patented to it prior to April 30 1895; V . 64, p. 1041.
Federal Steel Co. (see U . S. Steel Corp.) owns the stock and $3,500,000 of
the $4,500,000 2d m ortgage bonds (V . 66, p. 1237.) First m ort. bonds
authorized, $25,000 per mile for construction and $7,000 for equipm ent.
Dividends prior to 1900 aggregated 100 %; in 1901-02, 6 %; in 1903-04, from
accum ulated surplus, 1 5 0 % , and in Sept. 1905 6 5 % , and June 1906 40 % .
V . 79, p. 2085.
Year ending June 30 1906, gross, $ 7 ,7 5 7 ,6 3 6 ; net, $ 5 ,1 8 2 ,3 1 9 : other in
com e, $ 13 5 ,7 2 9 ; charges, taxes and depreciation, $ 1 ,5 4 0 ,0 1 0 ; construction
and special deprec’n, $ 1 ,8 5 0 ,2 2 0 ; b al., sur., $ 1 ,9 2 7 ,8 1 8 . — (V . 7 9 , p. 2 0 8 5 .)
D ULUTH MISSABE & NORTHERN R Y .— Owns from Duluth to M oun
tain Iron, M inn., 77 miles; branch from A lborn northwesterly to Buckeye
Mine, 54 miles (opened Sept. 190 6); other branches and spurs, 84 miles;
trackage to Union D epot, D uluth, 2 m .; total, 163 m. Entire $ 4 ,1 1 2 ,5 0 0
stock and $ 1 ,9 6 7 ,0 0 0 of bonds owned b y Lake Superior C onsol. Iron Mines
and so b y United States Steel Corporation. V . 7 2 , p. 1038.
Of the general 5s o f 1906, $1,600,000 were issued for part cost of A lborn
branch, 54 miles, and $3,943,000 to retire the 2nd 5s, paid off July 1 1906;
o f the issue, bonds are reserved to refund the 1st consols., balance for new
construction and equipm ent. V . 82, p. 1101.
In 1903-04 paid dividend of 1 5 0 % from accum ulated surplus and In Sept.
1905 7 0 % and June 1906 4 0 % .
V . 7 9 , p. 208 5. For year ending June 30
1906, gross, $ 8 ,3 6 8 ,4 8 9 ; net, $ 5 ,3 9 0 ,7 4 2 ; other Incom e, $18 7 ,3 4 3 ; charges,
taxes and deprec’n, $1 ,2 8 6 ,3 7 9 ; construction and special d eprec’n, $ 1 ,3 9 8 .873; bal., sur., $ 2 ,8 9 2 ,8 3 3 .
In 190 4 -0 5 , gross, $ 6 ,3 3 3 ,8 1 7 ; net, $ 3 ,8 6 0 ,3 0 9 '
— (V. 8 2, p. 1101; V . 8 4 , p. 220 .)
DULUTH R A IN Y LA KE & W IN N IPE G R Y .— T o be com pleted about
Aug. 1907 from Virginia, Minn., north to connection with Canadian Northern
at International Falls, 98 m iles, giving that road access to Duluth and T w o
Harbors at the head o f the Great Lakes.
S tock, $ 2 ,0 0 0 ,0 0 0 , owned b y the Virginia & R ainy Lake C o ., which guar
antees the interest of the bonds. Sinking fund yearly, beginning March
190 9, amounting to two-thirds o f net earnings o f preceding calendar year.
V . 8 1 , p. 558 , 61 3 , 1848; V . 82 , p. 751 ; V . 83, p. 323 ; V . 8 4 , p. 158. W ith
38 miles in full operation, earnings were:
L A T E S T E A R N IN G S .— J 19 0 6 .................. Gross, $3 1 0 ,1 1 1 ; net, $12 8,38 4
11 m os., Jan. 1 to N ov. 3 0 .1 1 9 0 5 _________Gross, 183 ,880 ; net,
7 2 ,4 9 3
Surplus over bond in t . , $73 ,3 8 4 in 1906, against $ 3 1 ,2 4 3 in 1905.
P res., W irt H. Cook; S ec., D avid O. A nderson.— (V . 8 4 , p. 158 .)
DULUTH SOUTH SHORE & A TLAN TIC R Y .— Operates Duluth to
Sault Ste. Marie, 415 miles; " S o o ” Junction to S t. Ignace, 43 miles; other,
135 miles: tota l, 593 miles, including 10 miles o f trackage.
C A P IT A L S T O C K .— C om m on stock Is $12,000,000; p ref., $10,000 000;
par, both $100. Pref. stock Is 6 % non-cum . Can. Pac. July l 1906
owned $6,100,000 com . and $5,100,000 p ref. stock , $3,000,000 Incomes
and $15,107,000 consols.
B O N D S. & c.— A bstract first mortgage, V . 45, p. 274.
The first consolidated m ortgage o f 1890 has Interest at 4 % guaranteed
by Can. P a c., which July 1 1906 held the entire outstanding Issue ($15,107,000) in Its treasury as security for Its 4 % debenture stock: consols for $4,893,000 are reserved for prior bonds, and additional amounts m ay be Issued
at $20,000 per mile of new lines. Car trust 4 J4s o f 1906, V . 82, p. 452. Due
Canadian Pacific R y . June 30 1906, for guaranteed interest advances,
$3,589,395; on general accou nt. $323,013.
L A T E S T E A R N IN G S .— 119 06-07 ____ Gross, $ 2 ,9 9 7 ,4 1 2 ; net, $90 2 ,7 4 8
11 m os., Ju ly 1 to May 31. 11905-06------ Gross, 2,781,517; net, 911,116
D ef. under charges, $ 3 2 ,6 6 6 , against $ 1 2 9,05 8 in 190 5-0 6.
R E P O R T .— Report for year ending June 30 1906 in V . 83, p. 815.
Of the tonnage in 1905-06, ores furnished 43% , lum ber, & c., 2 7 % .
Y r .—
Gross.
Net over taxes. Oth.Inc.
Interest.
Balance.
1905-06 ..$ 3 ,0 5 7 ,8 0 9
$707,878
$14,536
$878,717
def$156,303
1904-05 . . 2,706,935
637,496
15,774
859,823
def 206,552
P res., W . F. F itch, M arquette, M ich.— (V . 83, p. 687, 815.)
53
RAILWAY STOCKS AND BONDS.
J u l y , 1907. J
54
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, <kc., see notes
on first page of tables.
M iles Date Size, or
Amount
Par
of
of
Road. Bonds. Value. Outstanding
85
$50 $2,000 000
Erie & Pittsburgh— Stock 7 % rental 999 yrs Penn Co
85
50
1,119,550
Special guaranteed betterm ent stock $ 2 ,5 0 0 ,0 0 0 ..
4,393,000
General M (now first) $4,500,000 gold guar____ Un
85 1890
1,000
Erie Railroad— Comm on stock $133,000,000 auth____
100 112,378,900
Second preferred stock 4 % non-cum ulatlve..............
100 16,000,000
100 47.892,400
First preferred stock 4 % n on -cu m u la tlv e.................
A— Old Bonds Assumed— R oads Consolidated.
1,000
N Y & Erie 1st M Pierm to Dun ext 1897 g o ld _ .c *
447 1847
2,482,000
447 1849
1,000
2.149,000
Second m ortgage (extended in 1879) g o ld _____ c*
447 1853
1,000
4,617,000
Third m ortgage (extended in 1883) g o ld ____ _c*
1,000
Fourth m ortgage (extended In 1880) g o l d .. _c*
475 1857
2,926,000
475 1858
500 &c
709,500
Fifth m ortgage (extended in 1888) gold ________c*
200 &c
182,400
Erie R y 1st M Buff Br Hornellsv to A ttica g o ld _.c*
60 1861
1,000 16,891,000
First consol M $30,000,000 gold $ or £ ____ F.c*
526 1870
N Y L E & W est funded coupon bonds g o ld _____ _c*
526 1878
500 &c
3.699,500
140 1876
1,000
2,380,000
Buffalo N Y & Erie 1st M (Buffalo to C o rn in g )..c*
Buffalo & Southw 1st M Buffalo to Jamestown g. _c*
67 1877
50 &c
1,500,000
12 1868
250.000
1.000
N ewburg & N Y 1st M gold extended In 1889____c*
B— Bonds on Properties.Controlled by Ownership of En tire (*) or a Maj orlty (W of
10 1881
200,000
•Bergen Co R R 1st M Ruth Jet to R idgewood N J
1,000
250 1890
1,000 12,000,000
•Ch & Erie 1st M g (M arion,O ,to H am ’d ,In d ).C e.c*
Chicago & A tlantic Terminal first m ortgage g . Ce
1888
1,000
300.000
246,500
cGoshen & D eck’t ’n 1st & 2d M’s ($60,000 are 2d)
’6 8 -’69
170.500
cMont & Erie 1st & 2d M’s ($40,500 are 2 d s)______
’66-'67
” ~8 ’6 7 -’69 500 &c
300,000
•Jefferson 1st & 2d M’s ext in '87 & ’89 (H ’daleBr) _c
1,000
First m ortgage Carbondale to S depot go ld .F P .c*
37 1889
2,800,000
7,500,000
•Long D ock Co cons M g (now 1st M) see t e x t ) ..c *
1885
1,000
100 &c
1,500.000
cN Y & Greenw L prior lien M $1,500,000 g o ld ..N
52 1896
34 1880
SNew Jersey & New York 1st M (reorganization) _c*
500 &c
400,000
629,500
General mort $1,200,000 (red 105 after 5 yrs) gold
1892
500 &c
1,100,000
1882
1,000
N Y L E 4 W C R R 1st M “ lawful m oney” . . Mp.c*
3,396,000
•N Y L E & W D & I Co 1st M (V 56, p 8 2 ) ..F .c*
1883
1.000
8,000,000
•N Y Pa & Ohio prior lien M gold $ & £ ______ F.c*
422 1880
500 &c
D o Leased lines— see separate statements for Cl ev & Mah V alley R R and Sharon
cN Y Susquehanna & W estern— N orthern New Jers ey— T loga R R .— See each com pa
C— Erie Railroad Company Bonds.
Second M on Buffalo & Southwestern gold__M o.c*
67 1895
1,000
1,000,000
1.000 35.000.000
Prior lien bonds $35,000,000 gold _____ _ F.c*&r
1895
1 .000 4 0 4 0 9 . 0 0 0
1895
General lien $140.000.000 sold
__
c*& r
—
__ __
__
__
_
DU RHAM & SOUTH C AR O LIN A R R .— Durham N. C ., south 30 miles
to Mlnturn on the Seaboard A ir Line, com pleted O ct. 1905. S tock, $300,000; par o f shares, $100. B onds, see table above. V . 81, p. 840. Pres.,
Ernest W illiam s, L yn chburg, V a.— V . 81. p. 840.
DU RH AM UNION STATION CO.— Owns passenger station at Durham ,
N. C ., opened May 1 1905 and used b y the Southern R y ., Seaboard Air Line
R y ., N orfolk & W estern R y . and Durham & Southern. The three firstnam ed own one-third each o f the $25,000 cap. stock. Lease provides for
rental b y several lines sufficient to pay interest on bonds and other charges.
President, H. W . Miller; Secretary, C. N. Freeman.
DUTCHESS COUNTY R R .— In 1907 m erged in Central New England R y .
EAST B ROAD TOP R R . & COAL CO. (P a .)— Owns from Mount U nion,
P a ., to W ood vale, P a ., 36 miles, Shade Gap R R ., 5 miles, and branches to
m ines, 2 m. T otal, 43 m. See V . 75, p. 77. A coal road opened in 1874. S tk .,
$815,589 (par, $50), o f which $247,189 is 0% pref. First mortgage 4s
($500,000) due July 1 1903, remain unpaid; no Int. paid thereon since Jan.
1885. Car trusts, $42,400, in t., 6% , payable M .-N . Year 1905-06, gross,
$176,498; net, $88,177; interest, & c., $26,157; im provem ents, $31,317;
b al., sur., $30,703. Pres., R . S. Siebert, Orblsonla, Pa. O ffice, 316
W alnut S t., Phlla.— (V. 77. p. 145.)
"
EAST M AHANOY R R .— Owns from East M ahanoy Junction to St.
Nicholas and branches, 11 miles. Re leased Dec. 1 1896 for 999 years to
Little Schuylkill N av. R R . & Coal Co. at 5 % on stock, and lease assigned
to Phila. & Reading R y . O f the stock $283,650 Is ow ned, $280,000 being
deposited by Reading Co. under Its general m ortgage.
EAST PE N N SYLV A N IA R R .— Owns R eading, P a ., to A llentow n, P a .,
35 miles; second track, 18 miles; all track, 76.5 miles. Leased for 999 years
from May 1 1869 to the Philadelphia & Reading R R . at a rental o f 6 % per
annum on the stock and Interest on the bonds. Lease assumed In 1896 by
the Phlla. & Reading Railway Co. O f the stock $878,850 Is owned by the
R eading C o., $875,000 of which Is deposited under its gen. m ort. o f 1897.
EAST TENNESSEE & W ESTERN NORTH CAR O LIN A R R .— A narrowgauge road from Johnson C ity, T en n ., to Cranberry, N. C., 34 miles. In
cluding 3 miles leased. S tock, $501,900. Extension from Johnson City
to E lizabethton, 10 miles, was com pleted as third rail In May 1905. Con
trolled by Cranberry Iron & Coal Co. The 1st 5s o f 1905 ($500,000 author
ized) were used to retire the $250,000 bonds which matured N ov. 1 1905,
repay $153,756 to Cranberry Iron & Coal Co. and acoulre 4 or m ore miles
o f road and 25 acres o f land In Mitchell C o.. N. C. V . 81. p. 1723. For
calendar year 1905, gross, $174,498; net, $78,828; Int. and taxes, $22,752;
d iv. (2 M % ), $12,547; b a l., sur., $43,529. P res., F . P. H ow e, Philadel
phia, P a .— (V . 82. p. 333, 1379.
EASTERN KEN TU CK Y R Y.— R iverton to W ebbville. K y . 36 m. S to ck ,
com m on, $1,697,800; p ref., $1,779,500; par, $100. No bonds.
Bills and
accounts payable June 30 1906, $44,372; car trusts, $14,386. Earnings
for year 1905-6, gross, $62,634; net, $2,228; Interest, $1,819; b a l., sur., $409.
EL PASO & NORTHEASTERN CO.— Owns from El Paso & Northeastern
R y ., from El Paso, Texas, northeast 165 miles, to the Salado coal fields;
controls and operates El Paso & R ock Island R y ., Carrizosa to Santa Rosa,
128 m .; A lam ogordo & Sacramento Mtn. R y ., A lam ogordo, N. M ., to
Russia. 31 m .; Dawson R y ., Liberty, N. M ., to Dawson, 133 m .; total.
457 miles. Name changed from Xew M exico R y. & Coal Co. in 1905. O p
erated as eastern division o f El Paso & Southwestern system , the western
division being the El Paso & Southwestern R R ., extending from El Paso,
T e x ., to Benson, A riz., with branches.
The El Paso & R ock Island R y . was incorporated in 1902 with $2,500,000
stock (of which 60 % owned b y the El Paso & Northeastern Co.) and
$2,500,000 5 % guaranteed 50-year bonds. It has close traffic agreement
with Chic. R ock Island & Pacific for 999 years. V . 71, p. 1219.
The Dawson Railway & Coal C o., stock $3,000,000, has issued $3,000,000
collateral trust bonds, which are guaranteed, principal and Interest, and are
seenred by the stock and bonds ($3,000,000 each) o f the Dawson R y ., and
those o f the Dawson Fuel Co. ($1,000,000 each), the latter owning about
25.000 acres of coal, mineral and tim ber lands. V . 73, p. 900; V . 74, p. 776.
S T O C K .— Stock, $12,000,000, all o f one class.
In May 1905 Phelps. Dodge & Co. acquired entire stock of system.
B O N D S .— The New M exico R y . & Coal Co. coll. trust 5s o f 1897 are
secured b y the stock and bonds o f El Paso & N. E. R y. of New Mex. ($2,700.000 o f each), th e stock o f the El Paso & N. E. R R . o f Texas, $300,000
(no bonds issued), and all the stock ($2,500,000) and all the bonds ($1,500,000) o f the New M exico Fuel C o., the latter covering 3,500 acres o f coal
lands. Of the first and consolidated and coll. trust 5s o f 1901, $3,000,000
are reserved to retire the coll. trust 5s o f 1897 and $2,000,000 are applicable
lo r im provem ents and new equipm ent. V . 74, p. 776.
The bonds o f the Alam ogordo & Sacram ento Mtn. R y ., o f the El Paso &
R o ck Island and those o f the Dawson R y . & Coal Co. are guaranteed.
N. Y . office, 99 John S t.— (V . 81, p. 598.)
EL PASO UNION PASSENGER DEPOT.— Owns depot at El Paso. Tex.
was com pleted about N ov. 1 1905.
Leased b y El Paso Northeastern,
El Paso Southwestern, Galveston Harrisburg & San A ntonio (So. Pac. S y s .),
A tch . T op . & Santa Fe, T ex. & Pac. and Mex. Cent, railroads on a wheelage
basis providing for m aintenance and all charges. . S tock, $240,000, owned
equally b y the 6 roads nam ed. O f the bonds (see table a b o v e ), $12,000 Is
to be drawn yearly Jan. 1 b y lot, beginning 1916, and paid off at par.
V . 78. p. 104; V . 81, p. 1043. P res., J. E. Hurley; Sec. and Treas., U. S.
S tew art.— (V . 81, p. 1043; V . 82, p. 1496.)
• ELGIN JOLIET & EASTERN R Y .— Owns from W aukegan, 111., on Lake
M ichigan, via Spaulding and Joliet, to Porter, In d .. 130 miles, and branches
N orm antow n to A urora, 10 miles— W alker to Coster. 111.— 33 miles; H am
m ond to W hiting, In d ., & c., 19 miles; total main line ow ned, 192 miles;
spurs to coal mines, & c., 26 miles; trackage. Chic. & W est In d ., 4.8; Belt
R y . o f Chicago. 2, 7 miles; second track, 16 miles; side tracks and yards
ow n ed . 118 miles; total track operated. 369 miles. Entire capital stock
owned b y Federal Steel Co. and so b y United States Steel Corporation.
S T O C K , & c.— S tock, $6,000,000; par, $100. D iv ., 4 % yearly (in Dec.)
In 1899 to 1906 Inclusive. First m ortgage bonds unissued can be disposed
o f for extensions, betterm ents. &c.
[ Vo l . l i i x v .
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
7
Q__ M Union Trust Co, N Y
7
do
do
Q— M
& J
do
do
3X g J
Bonds— P rinci
pal, When Due.
Stocks— Last
Dividend.
J’ne 10’07 1 X %
J ’ne 10’07 1 X %
July 1 1940
4 In 1906 Semi-an J P Morgan & Co, N Y Apr 9 1907 2 %
Feb 28 1907 2 %
4 in 1906 Semi an
do
do
4 g
5 g
4H g
5 g
4 g
4 S
7 g
7 g
7
6 g
5 g
Capital S
6
5 g
5 g
6
5
4X & 6
5g
6 g
5g
6
5
6 cur
6
4 !4 g
R y.
ny.
5 g
4 g
4 e
M & N
M & S
M & S
A & o
J & D
& J
J
M & S
M & S
& D
J
& J
J
J
& J
tock. or
A & O
M & N
& J
J
Various
Various
J
& J
A & O
A & O
M & N
M & N
J & J
M & N
& J
J
M & S
J
J
•T
&
&
*
11 B roadw ay, New Y ork
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
by (c) Lease.
11 B roadway New Y ork
do
do
do
do
May
Sept
Mar
Oct
June
July
Sept
Sept
June
July
Jan
1
1
1
1
1
1
1
1
1
1
1
1947
1919
1923
1920
1928
1931
1920
1920
1916
1908
1929
April 1 1911
May 1 1982
July 1 1918
1928--1929
11 B roadw ay, New York 1926--1927
Fidelity Trust Co, Phlla July 1 1927 1929
11 B roadw ay, New York Jan 1 1909
J P Morgan & Co, N Y
Oct 1 1935
do
do
May 1 1946
do
do
May 1 1910
do
do
Jan 1 1933
do
do
May 1 1922
do
do
July 1 1913
do
Mar 1 1935
do
J 11 B roadw ay, New York July 1 1908
Jan 1 1996
J New York & London
.1 11 Broad wav. New York .Ian 1 1996
R E P O R T .— For years ending June 30:
Year.
Gross.
Net.
Oth. inc. Interest.
Surplus.
1 9 0 5 - 0 6 ..................... $2,634,771 $971,613 $21,898 $425,000 $568,511
1904 05______________ 2,236,666
800,606
17.713
425,000
393,319
Pres., A . F. Banks.— (V . 74, p. 151, 205; V . 75. p. 1399.)
ELM IR A CORTLAN D & NORTHERN R Y .— (See M a p Lehigh Valley.) —
Owns Elm ira, N. Y ., to Canastota, N . Y ., 118 miles, and leases during
corporate existence Canastota Northern, Canastota to Camden, N. Y ., 21
miles
In 1896 the $2,000,000 stock was purchased and 5 % bonds were
guaranteed by the Lehigh Val. and th eroa d leased In July 1903 for 999 years
to the Lehigh V al. R y. o f N. Y ., a subsidiary com pany. (V . 63, p. 402.)
E LM IRA & LA KE ONTARIO R R .— Owns from Canandaigua, N. Y ., to
Chemung Jet., 64 m .; Sodus Point to Stanley, 34 m .: other 2— total. 100 m.
A consolidation In Dec. 1886 o f the Sodus B ay & Southern and other rail
roads. Lear*<d at cost o f operating to the N or. C ent., which owns all the
$1,500,000 stock. Lease m ay be term inated on 30 d ays’ notice.
Calendar Year. Gross.
Net.
Oth. Inc. In t.,& c.
Balance.
1906___________ $1,113,101
$96,852
$6,012 $61,632 sur.$41,232
190 5
975,282 op.def.20,091
6,865
68,010 def. 81,237
E L M IR A & W IL L IA M S P O R T R R .— Owns from W illiam sport, P a ., to
E lm ira, N. Y ., 75>$ miles. Leased to the N orth. Cent. R y . for 999 years
from May 1 1863. The dlvs. on the com . stock are 5 % and on the pref. 7 % ,
less taxes, making div. on com . 4 .4 8 % and on pref. 6 .3 0 % . Year ending
Dec. 31 1906, gross, $1,576,311; net, $300,330; rental, $152,520.
E RIE & PITTSBURGH R R .— Owns New Castle, P a ., to Girard, P a ., 81
miles; branch to Erie D ocks, 3 m .; trackage to Erie, 17 m .- total operated,
101 miles. Leased to Penn. R R . for 999 years In 1870 at 7 % on stock and
Interest on bonds, and lease transferred to Penn. Co. Under agreement of
N ov. 1 1905 the Penn. R R . will provid e sinking fund Instalments required
by the gen. m o rt., the E. & P . to deliver Its 3 H % debentures at par for
such advances and at m aturity o f the gen. m ort. bonds to exchange new
m ort. bonds therefor. Debentures outstanding Dec. 1906, $106,615.
S T O C K .— The stockholders on Jan. 9 1905 authorized an Increase in the
stock from $2,000,000 to $4,500,000, the new stock to be Issued as required
for Im provem ents, to be subordlnata to the old vtock, but to be guaranteed
7 % dividends. V . 80, p. 1*2.
E A R N IN G S .— The lease »how ed U the lessees in 1902, profit, $254,142
in 1903, profit, $197,549; in 1904, p r* * t. $262,544; in 1905, profit, $442,059;
in 1906, profit, $475,744. See V . 84. p. 749.— (V . 80, p. 162, 472; V . 84,
p. 749.)
ERIE R A IL R O A D .— (See M ap on adjoining page.)— E m braces trunk
line from Jersey C ity, opposite N. Y . C ity, to Chicago, 111., 998 m ., and
branches 1,317 m .; total, 2,315 m .; second track, 771 m .; 3d and 4th tracks,
33 miles; total, 3,119 miles. In 1906 electrification o f Rochester division
and branches, total 150 miles, was begun. V . 82, p. 1379.
H IS T O R Y .— ON Dec. 1 1895 suoceeded to the property o f the old N. Y .
Lake Erie & W est R R . C o.. sold In foreclosure on N ov. 6 under Its 2nd con
solidated m ort. The new com pany holds In fee or through ownership o f
all or practically all the stock o f the Independent com panies the line from
New York to Chicago (Including the N ypauo R R . and Chic. & Erie co m
panies! , and also all branch and subsidiary lines excep t a few small prop
erties
The reorganisation plan of 1R95 was In V . 61, p. 368.
In 1901 an interest In tJe Lehigh V al. R R . was purchased. V . 73, p. 391.
The Buffalo Creek Extension R R . was Incorporated Aug. 3 1906 with
$400,000 authorized stock, to build a road 8 miles long <-onnectIng the Buf
fa lo Creek R R .. Buffalo Terminal R y . and Lehigh V alley R R . Construc
tion work was suspended in March 1907. V . 83, p. 322; V . 84, p. 693.
Lines owned In tee.
M iles. | Leased lines.
At lies.
P lerm ont, N. Y ., to D u n k irk .. 447 A vo n Gen. & M t. Morris______
*15
Buffalo to Jam estow n, N. Y . . .
67 [ M ontgom ery & Erie___________ *10
Buffalo to Corning, N . Y ______
1 40 1Northern R R . o f N. J .............. *26
Other branches......................... ..
139 Goshen & D eckertow n_________ *12
Stock all(a) or nearly all (b) owned. R och. & Genessee V alley______
*18
aChlcago & Erie R R .
250 Other lines....................................
43
aJefferson R R _________________
"45
lea sed to N ypano R R.
N. Y . & Greenwood Lake U R . . •52 Cleve. & Mahoning V alley R R . *81
bNew Jersey & New York R R . *38 Sharon R ailw ay_______________ *32
Erie & W yom in g Valley R R ___
59 Other lines_____________________
54
aN ypano R R .
422 |Trackage........................................... 167
bTioga R R _____________________
5 8 1Lines In system June 30 '0 6 ____ 2,315
Other lines_____________________ 140 IN. Y . Susquehanna & W est___*238
•See this com p a n y.
---------1
P roposed cut-offs, & c., V . 80, p. 2621; V . 81, p. 777; V . 83, p. 910; V . 84.
p. 1366.
COA L A N D S T E A M B O A T P R O P E R T Y .— The Erie coal properties rep
resent an aggregate of 10,500 acres o f anthracite, o f which about 9,000 acres
are held In fee; also 53,000 acres o f bituminous coal lands held in fee, 14,coo
acres o f bitum inous held under mineral rights. Its coal tonnage In the
year 1905-06 aggregated 16,978,032 out o f the 36,355,382 tons hauled.
The U nion Steam boat Line (merged In Erie R R . Co. June 30 1896), has
term inal, & c., properties in Buffalo and 8 lake steamers. See V . 63, p. 514.
The P enn, coal properties acquired In 1901 are additional. See above.
In June 1906 the Clarence and A voca coal com panies, aggregate production
175.000 tons, were acquired. V . 82 p. 1322.
S T O C K .— The votin g trust was dissolved M ay 1 1904. V . 78, p. 1549.
The prior lien and the general lien bonds o f 1895 have 10 votes for each$l .000
o f principal, their authorized Issues aggregating $175,000,000, o f which
$77,012,000 issued in July 1906. The com pany reserves the right to
redeem either class of Its pref. stock at par In cash. Provisions of pref.
stock were In "Supplem ent o f April 1897. page 3.
In Mch. 1898 Erie 1st pref. stock was increased from $30,000,000 to
$43,000,000, and com m on stock from $100,000,000 to $113,000,000, to
acquire New Y ork Susq. & W estern stock. See V . 66, p. 335, 573. The
1st pref. stock was further increased in 1901 $5,000,000 In con nection with
the purchase o f the Pennsylvania Coal Co. V . 72, p. 136, 532.
In 1905 authorized com . stock was Increased to $133,000,000 to provide
for $10,000,000 (first issue) of convertible debentures. V . 80 p. 1362.
RAILWAY STOCKS ANI) BONDS.
JuL'f. 1907.]
V ol. l x x x v .
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation oj column headings, & c., see notes
on first page of tables.
Miles Date
of
of
Road. Bonds.
Erie Railroad— (Concluded)Penn coll trust M $36,000,000 g s f te x t. - Me.c&r
First conv M $50,000,000 gold Series A .
S.c*&r
do
do
do
Series B _ . ____
Size, or
Par
Amount
Value. Outstanding
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
$1,000&c $33,000,090
V & A
4 g
A & O
1,000 &c 10.000,000
4 g
A & O
1,000 &c 12,000,000
4a
1,000
5,500,000
6
3,000,000
Various
N Y Pa & Ohio equip trusts sink fd drawn at 100.£100
570,487
5g
Various
1.800,000 4 to 5
Erle R R equipment trust gold part y e a r ly ____ ___
do
do Ser D g $120,000 due Oct yearly Usm
1,000
250,000
4H g A & O
1,000
do
do Ser E g $250,000,due April yearly Usm
500,000
4H e A & O
410.000
do
do Ser F g $135,000 due Feb yearly Usm
1,000
4M g V & A
& D
do
do Ser G g $160,000 s-ared par beg Dec 07
1,000
800.000
J
4 g
do
do Ser H gold $100,000 due sem i-a n n .. 1,000
l.fiOO.OOO
& D
J
4g
1,000
do
do Ser I gold $350,000 due seml-an_ Pe.c*
6,650,000
<Sc D
4 g
J
4
s
M & N
do
do Ser J gold about $47 ,000 due s-a. - Ba
1,000
903,000
580,000
4A
l
A von Geneseo & Mir Morris and Rochester & Genesse e Vall
cks— See those Comp anles.
Evansville & Indian.—T H & Southeast’ n 1st M -.F.c*
1,000
251,000
40
7
M & S
647,000
Evansville & Indianapolis 1st M gold gu a r__ F.c*
55
1,000
J
& J
6g
1,000
1,602,000
& J
Cons M ($2,500,000) g gu p & i (end) E & T H .F .c*
135
J
6 g
50
3,987,383
Preferred stock non-cum (see text) . ____________ Ta
50
1,283,333 5 in 1906 A & O
1,000
30,000
& J
Consolidated m ortgage (first lien) g old _____________
115 1880
J
6 g
First consolidated m ortgage g o ld . ___________ F.c*
1,000
3,000,000
& J
144 1881
J
6 g
Mount Vernon Branch m ortgage g o ld _________F c*
25 1883
1,000
375,000
A & o
6 g
A & o
Sullivan Co Coal Br m ortgage g o ld . __________ F.c*
1890
1,000
450,000
5 g
1,000
A & o
3,145,000
First general mortgage for $7,000,000 g o ld ____F.c*
199 1892
5g
1 ,000
E qu ip bonds Series B, due $20,000 s-a (V .82,p .627) B
1905
300,000
4n g F & A
Do
do
Series C, due $60,000 s-an ___Ba
1,000
1,020,000
1906
4H g V & A
Fall Brook— Stock ($500,000 is 7 % preferred)______
50
5,000,000 See text. y - - F 5
92
Fitchburg— Preferred 5 % rental______________________
100 17,360,000
5
K— J
1888
1,000
2,000,000
5
M & N
Bonds, not m ortgage_____________________________ c*
1,000
5,000,000
4
1887
K & A
Bonds to State o f Mass, 4 % since Feb 1897 ______ r
B onds, not m o r t g a g e __________ _______________ c&r
500,000
4
& D
1890 1,000 &c
J
1,000
500,000
M & N
1894
B onds, not m o rtg a g e ._____________________ _______ c*
4 Yi
1,859,000
4
Various
Bonds, not m ortgage ($1,359,000 due 1915)____c*
1,000
'9 5 -’96
4
Bonds, not mort ($2,750,000 are 4s o f 1897)
c& r
4,200,000
Various
’9 7 -’98 1,000 &c
2,275,000
A & O
Bonds, not m ortgage ($1,775,000 are 3 H s o f ’01)c&r
’0 0 -’01 1,000 &c
3H
Bonds, not m ortgage, $2.000.000 a u th ____ ..c * & r
4
A & O
2,000,000
. . . 1907 1 .000 &c
D IV ID E N D S , per c e n t .- l
On 1st preferred_________ JOn 2d preferred.
1901
1903
1905
1907
1907
'8 8 -’90
’99 - ’01
1901
1902
1902
1904
1905
1905
1906
1907
ey Sto
1879
1884
1886
1901. 1902. 1903. 1904. 1905. 1906. 1907.
\ lA
3
3H
4
4
4 A p r .,2
4 A p r., 2
B O N D S.— The new first consolidated m ortgage Is for $175,000,00
(Farm ers' Loan & Trust C o., trustee)— see abstract o f deed V . 62, p. 89,
and secures $35,000,000 prior lien and $140,000,000 general lien bonds.
B oth series have v otin g power; see “ S tock ” a bove.
O f the $140,000,000 general lien bonds, $92,073,000 are reserved for the
ultimate acquisition o f bonds and guaranteed stocks left undisturbed on
various parts o f the system (see list V . 62, p. 89), and $17,000,000 were
reserved for new construction, betterm ents, additions, & c,, after 1897,
not over $1,000,000 to be used in any one year.
The position of the first consolidated m ortgage is substantially as follows:
It is a first Hen (m ortgage or collateral, the prior lien b on d s, how ever, pre
ced in g the general lien bonds) upon the cos. chief coal properties (except
Penn. Coal C o .), upon Its water transportation lines (Including valuable te r
m inal properties appurtenant th ereto), and upon a number o f profitable
local lines in New Jersey and near Buffalo; it is a second lien upon certain
m inor coal properties and upon the railroads leading to all the coal proper
ties, upon the terminals at Jersey C ity, upon the Buffalo N. Y . & Erie R R .
(the main line to B uffalo), and the Buffalo terminal properties other than
those upon which It Is a first lien, and upon the entire line from Salam anca
to Chicago; It Is a second consolidated mortgage upon the lines betw een Pierm ont and Dunkirk (447 m iles).
T he collateral trust 4s o f 1901 are secured b y 51 % o f the entire N . Y .
Susq. & W estern stock ($26,000,000 total issue), all o f the Pennsylvania
C oal Co. stock, and the stock of the Erie & W yom ing Valley R R ., Scranton,
P a ., to Lackaw axen, 65 miles, and Del. Val. & K ingston R R . Of the bonds
$32,000,000 were issued to acquire these stocks (except N. Y . S. & W .,
already ow n ed ), remaining $4,000,000 (of which $ 1,000,000 has been Issued)
being reserved for im provem ents to properties o f which stocks acquired. A
sink, fund o f 10c. per ton o f coal sold purchases bonds at not exceeding 105,
otherwise to be applied to the drawing o f bonds b y lot, all such bonds to be
kept alive and the accruing int. thereon to be added to the sink, fund,
w hich, It is estim ated, will be sufficient to retire the whole issue at or before
m aturity. V . 71, p. 1219, 1311; V . 72, p. 44, and circular, p. 136, 532, 257;
V . 79, p. 212. In 1901-06 $1,549,000 Included above as outstanding was
purchased b y sinking fund.
The co n v . 4s o f 1903 ($50,000,000 authorized Issue) will be Issued from
tim e to tim e as required and m ay be made convertible Into com . stock at a
price to be fixed when the bonds are Issued, but not less than $41 Mi per
share; they will cover all the com p a n y’s property subject to underlying liens.
The first $10,000,000 (series A) issued for im provem ents and equipm ent Is
con vertible on basis o f $100 bonds for $200 stock from A pr. 1 1905 to A pr. 1
1915; series B for $12,000,000 (see “ Finances” below) is convertible Into
com . stock at $60 per share at any tim e after O ct. 1 1907 and before O ct. 1
1917. V . 76, p. 382, 541; V . 78, p. 768; V . 79, p. 2205; V . 84, p. 270.
The Erie & Jersey R R ., with $600,000 authorized stock , will build a
low-grade cu t-off from H ighland Falls, via Campbell H all, to G uym ard,
N . Y ., abou t 40 miles. In June 1907 $3,000,000 3-year Erie & Jersey 6 %
notes were sold, secured b y $4,000,000 E. & J. bonds (authorized issue $10,000,000 1st 50-year 4s). V . 80, p. 2621; V . 84, p. 693, 1366.
In June 1907 the Genesee R iver R R . was authorized to m ake $6,000,000
m ortgage covering the proposed road from Hunts to C uba, N. Y ., 30 miles;
A loan o f $2,000,000 was obtained, secured b y its Donds. V . 84, d . 1366,
1488; V . 81. p. 777.
Real estate m ortgages outstanding Mch. 31 1907, $648,350.
In A pril 1907 $5,500,000 one-year notes (discounted in advance) were
sold to retire $3,000,000 notes m aturing April 8 and take up abou t $2,000,000 falling due on or before Ju ly 1. V . 84, p. 803.
Old Bonds.— U nder the 1st con sol. M. o f ’95 the co. covenants to p ay the
Int. regularly on all the old bonds in the table that are marked with an * or
a b (except N . J. & N. Y . b on d s), and to take them up and pledge them
with the trustee at m aturity.
Long Dock 6s, see March 1894 “ S upplem ent,” under N . Y . L . E . & W .
F IN A N C E S .— In 1905 dividends on 2d preferred were begun.
In 1905 dividends on 2d preferred were begun.
In 1905 and 1906 $12,000,000 4 % " B ” bonds were sold, con vertible
Into com m on stock at $60 per share at any tim e after O ct. 1 1907 and
before Oct* 1 1917. The proceeds are to be used for im provem ents.
V . 81, p. 1100, 1610; V . 84, p. 158; V . 84, p. 270.
E A R N IN G S .— 11 m os., J 1906-07_-G ross, $49,000,876; net, $13,872,633
July 1 to May 31_____ _____\ 1905-06.-G ross, 45,500,600; n et.i 12,984,053
For 9 m os. ending Mch. 31 1907, net, $11,105,715, against $11,016,316
in 1905-06; other in c., $336,572; charges, $9,283,575; b al., sur., $2,158,713.
A N N U A L R E P O R T .— Fiscal year ends June 30. R eport for 1905-06
given In full In V . 83, p. 886, 907; see also editorial on page 860. Average
freight train load, 454 tons, against 412 in 1904-05.
1905-06.
1904-05.
1903-04.
1902-03.
Miles operated..............
2,151
2,151
2,151
2,153
Gross ea rn in gs.............$50,002,634 $45,724,738 $45,201,163
$45,830,413
W orking exp en ses.. . 35,872,837 33,142,208 32,581,838
29,925,758
Net earnings............$14,129,797 $12,582,530 $12,619,325
Net coal co m p a n ie s.. $1,595,140 $2,190,439 $1,993,911
Other Incom e..............
582,702
488,048
412,807
$15,904,655
$2,670,290
314,995
$18,889,940
Total net Incom e___$16,307,639 $15,261,017 $15,026,043
$8,891,077 $8,593,688
$8,461,375
In te re s t______________$9,246,948
1,153,623
1,053,969
1,142,974
R e n t a ls .........................
1,094,575
176,893
189,204
222,900
P. c. due leased lines.
172,827
264,249
284,791
339,072
Int. on equip, tr u s ts ..
397,562
368,580
352,339
290,352
M iscellaneous________
379,083
1,360,555
1,540,320
2,377,855
A d d ’ ns & im provem ’ ts 1,926,975
Divs. on 1st p referred(4)l,915,696 (4)1,915,696 (4)1,915,696 ( 3 X ) 1,676,234
(4)640,000
................
.................
D ivs. on 2d preferred. (4)640,000
Balance, s u r p lu s ...
$533,975
$490,344
$1,096,086
$4,379,178
Where Payable, and by
Whom.
B onds— P rinci
pal, When Due
Stocks— Last
Dividend.
11 B roadw ay, New York Feb 1 1951
April 1 1953
do
do
April 1 1953
do
do
April 8 1908
1910
1908 and 1910
London
To 1910
New York
Oct 1907-1908
do
April 1908-1909
do
Feb 1908 1910
do
Dec ’ 07 Dec '09
do
Dec '07-Jun ’ 15
Girard Trust Co, Phila
Penn Co for Ins &c, Phila Dec ’07-Dec ’ 16
N ov ’0 7 -N o v’ 16
New Y ork
T o Feb 1917
Bankers Trust C o, N Y Sept 1 1909
do
July 1 1924
do
Jan 1 1926
do
do
Checks mailed
Bankers’ Trust Co, N Y
do
do
do
do
do
do
do
do
Blair & Co N Y
do
do
Office, Corning, N Y
Office, Boston & Me, Bos
Office, Boston
do
do
do
do
do
do
do
A pr 15 '07 Z 14%
July 1 1910
July 1 1921
April 1 1923
April 1 1930
April 1 1942
Feb '08 FH) ’ 15
Feb '0 8 -Feb '16
Feb 5 1907
July 1 ’07 1 %
May 1 1908
Feb 1 1937
June 1 1920
May 1 1914
1915 and 1916
1927-1928
Oct 1 1920-1921
Apr. 1 1927
O F F IC E R S .— P res., F. D . U nderw ood; 1st V lce-Pres. and Gen. S olicitor,
G. F. Brownell; 2d V lce-Pres., G. A . Richardson; 3d V lce-Pres., H. B .
Chamberlain; 4th V ice-P res., J. M. Graham; S ec., D avid Bosman; Treas.
D . W . Bigoney: Com ptroller, M. P . Blauvelt. Office, 11 B w a y., N. Y .
D IR E C T O R S .— Chas. Steele, J. J. G oodw in, John G. McCullough,
Ogden Mills, A lexander E . Orr, F. D . U nderw ood, Samuel Spencer. Francis
L ynde Stetson, Geo. F. Baker. J. N . H ill, Norm an B. R eam , II. M cK.
T w om b lv, E . H . Harrim an, W illiam C. Lane, Louis L . Stanton, W m . P.
H am ilton.— V . 84, p. 803, 931, 1113, 1247, 1366, 1488.)
E V A N SV IL L E & IN D IA N A P O L IS R R .— Owns E vansville to Terre
H aute, In d . (via W orth in g ton ), 134 m .; leases branch, 12 m . A consolida
tion in 1885. O f the consols $898,000 held to meet prior liens. The co n
sols. and the bonds of 1924 are guaranteed b y E vans. & Terre Haute, which
owns capital stock , $2,000,000. C om pany owns no equipm ent.
In 1905-06, gross, $386,741; net, $103,061; intefest, taxes, &e., $175,861
b a l.. deficit for year, $72,800.— (V . 75, p. 980.)
E V A N SV ILL E & TE RRE H AUTE R R .— (See M aps Rock Island Co.) —
Controlled and operated.
M iles.
Road owned and operated.
M iles.
Evansville to Terre H aute______ 109 Evansville & Indianapolis, E v
ansville to Terre Haute via
Branches to Mt. V ernon, & c____ 50
W orthington , & c______________146
Evansville Belt (stock h eld )____ 5
Total In earnings_______ _________ _____________________________________ 310
Leased to other com panies R ockville extension....... ...................................... 23
T he Chicago & Eastern Illinois owns $3,161,450 o f the $3,987,383 com
m on stock; par, $50. V . 81. p. 1242.
D IV S. 1 ’92. ’93. ’94. ’95. ’96. ’97.
’99. ’00. ’0 1 .’02-’05. ’06.
1907.
C om .% 1- 7a 7 Mb
1 H None. 4
2
0
4
5
5
Pref. %J
5 5 y ’ljr. 8 A p r . 2 ^
a A lso 5% in bonds, b Also scrip dividend.
B O N D S, G U A R A N T IE S , &c.— Certain Evansville & Indianapolis bonds
are guaranteed. See that com pany. General m ort. 5s for $3,855,000 are
held In trust to retire the prior bonds and car trusts at m aturity. E quip
ment notes June 30 1906, In addition to those in table abov e, $123 ,932
E A R N IN G S .— 11 m o s., J1906-07 ...G r o s s , $2,104,290; net, $962,931
July 1 to May 31.
(1 90 5 -0 6____Gross.
1,997,019; net,
894,644
A N N U A L R E P O R T .— R eport for 1905-06 was given in V . 83, p. 888.
Results of Evans. & Ind. are included below In last three years.
Year ending June 30—
1906.
1905.
1904.
1903.
$1,722,314
Gross earnings...................$2,163,681 $2,050,147 $2,089,336
851,274
Net ea rn in gs______
826,956
1,052,263
1,011,556
36,228
Other lnoom e_____
36,325
24,612
28,244
Interest on d e b t________
Taxes and miscellaneous
E vansv. & Ind. d eficit. .
Dividends on pref. (5% )
Dividends on com . (4 % )
Im provem ents_________
$1,076,875
$550,281
92,284
$1,039,800
$514,160
90,929
$887,502
$509,281
99,639
64467
159,495
42,921
64',167
64,107
79^286
$863,281
$337,950
88,982
34,090
64,167
$291,258
$167,727
$214,415
$338,092
O F F IC E R S .— Pres., H . I. Miller; T reas., C. W . H illard.— ( V . 81, p.
1240, 1242; V . 82, p. 627; V . 83, p. 562; 625, 888, 1228.)
HALL BROOK R A IL W A Y .— (See M a v N . Y . Central L in es.)— Owns
Corning, N . Y ., to A ntrim , P a .. 52 miles; branch to Ulysses, P a ., 40 miles.
L E A S E .— The railroad and Its rolling stock was leased to N . Y . Central
& H . R . R R . for 999 years from M ay 1 1899 for $175,000 yearly, payable
quarterly In g old , beginning A ug. 1 1899; also taxes and repairs, the leases
o f the Syracuse Geneva & Corning R y . and Pine Creek R R ., form erly held,
being canceled and new leases made to N. Y . Central,which also assumed the
guaranty o f the $3,500,000 Pine Creek bonds. The lease does not Include
the coal properties o f Fall Brook Coal Co. Prior to the lease, dividends had
been paid quarterly since 1891 at the rate o f 7 % per annum on preferred
and 6 % on com m on; since the lease 7 % on preferred and 2 H % on com
m o n .— (V . 68, p. 379, 573, 773, 872.)
FITCHB URQ R R .— System extends from B oston, Mass., to T ro y , N . Y .
190 miles; branches to W orcester, Bellows Falls, & c., 268 m .; 458 m. In all,
o f which 56 m . (Fitchburg to Greenfield) leased from V erm ont & Mass. and
8 miles from other com panies; second track 183 miles. In June 1907 pur
chase o f Conw ay (Mass.) Street R y . was authorized. V . 84, p. 1366.
L E A S E .— Leased for 99 years from July 1 1900 to B oston & Maine for 5 %
on pref. and 1 % on com . stock, payable quarterly (Jan. 1, & c.), organiza
tion expenses, interest on bonds, taxes, expenses o f m aintenance, &c. The
B oston & Maine holds $5,454,550 o f the $7,000,000 com . stock, purchased
with proceeds o f Its 3 % bonds at 90, the remainder being In the treasury.
V . 70. p. 76. 125, 176, 583, 1291; V . 71, p. 29. 543; V . 72, p. 532.
B O N D S .— Debentures described in V . 60, p. 967. In January 1907
$2,000,000 4% bonds dated April 1 1907 were sold to refund the $1,500,000
bonds m aturing April 1 1907 and provide for Improvements. V . 84, p. 158.
270. On Jan. 30 1907 $800,000 b o n d s were authorized for double-tracktng
road between T roy and Johnsonville, N . Y . , and elimination o f grade
crossings; none Issued to June 1907. V . 84, p. 270; V . 84, p. 158, 270, 1366.
FL O R ID A EAST COAST R Y .— Operates from Jacksonville. F la ., via
St. A ugustine, to Miami, 366 miles; branches to Palatka, San M ateo, & e.,
17 m .; A tlantic & W estern, Blue Springs to New Sm yrna, F la ., 28 m .; Titus
ville branch, 48 m .; Jacksonville to M ayport, 25 m .; tota l, 484 m. V . 69. p.
591. System ow ned b y H enry M. Flagler. Extension from Hom ewhence it is proposed to operate ferryboats to H avana. 85 m il66. in place o
Peninsular & Occidental SS. Co. V . 81, p. 211.
June 30 1904. stock , $1,000,000; $7,259,000 1st m ort. bonds Issued. In
O ct. 1902 filed a 2d m tge. to Colonial T r. Co. o f New York (now Trust Co.
o f America) as trustee, to secure $8,741,000 30-yr. 5% bonds dated Jan. 1
1903, o f which about $6,000,000 was reported to be issued. V . 75, p. 906.
For year 1905-06 gross earnings, $2,741,152; net, $703,505. against $720,41 In 1904-05; other Incom e, $1,761; charges, $843,340.— (V . 84, p. 1052.)
J u l y , 1907.]
RAILWAY STOCKS AND BONDS.
MAP
OF
THE
Detroit, Toledo & Ironton Ry.
AND TH E
Ann Arbor Railroad
57
I
M
l> V
Stone Gap
Ashley
•oGoodwill
PbcahoiltasSGrahara
i m i
a
RAILWAY STOCKS AND BONDS.
58
R A IL R O A D S .
For explanation of column headings, & c., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
Fitchburg— (Cone!)— Bonds,not M $3,660,000 cu rc& r
T roy & Boston first m ortgage (V. 53, p. 4 05 )__ c&r
"35
Brookline & Pepperell plain bonds guar ( e n d ) ___c
...
Verm ont & Massachusetts plain bonds gu ar____c& r
Flint & Pere Marquette— See Pere Marquette Statemen t.
Florida Central & Peninsular— See Seaboard Air Line R y .
Florida W est Shore— 1st M $2,000,000 gold guar p & 1
60
Fonda Johnstown & Gloversville— Cons M $500,000.C
26
First consol refunding M $700,000 g o ld _______ N.c*
26
General refunding M $1,500,000 (V . 71, p. 34) . . N.c*
26
4
Johnstown G & KIngsboro first m ortgage a ssu m ed ..
Cayadutta Elec 1st M guar p & 1 by F J & G . .g o ld . N
14
First cons gen ref M $7,000,000 gold red 120. N.c* &r
75
Ft D odge Des Moines & So— Newt & N ow 1st M red llO
102
___
Ft D D M & So 1st M, $3,500,000 g r e d 105 (text)OB
___
R efunding m tge, $6,500,000 gold red par (text) . . AB
Fort Smith & W estern— 1st M $7,500,000 g o ld . . Me c*
Fort W ayne & Jackson— Preferred stock 5J4 % rental
98
Ft W orth & Denver City— Pref stock “ stamp ctfs .” 4 %
First m ortgage gold $18,000 per m ile_________Me.c*
455
Equip trust certs guar due $39,000 s-a redeem 101.
—
do
do Ser B due semi-ann, redeem able 1 0 1 .G
Fort W orth & Rio Grande— See St Louis & San Franci S C O .
Gainesville & Gulf— See Tam pa & Jacksonville.
Gainesville Midland— 1st M $1,000,000 gold red at 110
74
Galveston Harrisb & San Antonio— 1st M g land gr.C*
256
W estern Division first m ortgage g o ld .. . _____ c*
671
Galv Hous & Nor 1st M (owned b y Sou P a c )_______
56
N Y T ex & Mex 1st M gold $ or £ guar b y So P . . F.c*
91
91
do
do
do
not guaranteed______
Galveston Houston & Hend of 1882— 1st M ____ Me.c*
50
Genesee & W yom ing RR— 1st M gold $500,000____ K
16
Georgia & Alabama— Georgia Carolina & Northern— S ee Sea
Georgia Coast & Piedmont— 1st M gold $1,000,000 Mo
85
Georgia Florida & Ala— 1st M $1,100,000 gold .M a.c* T ext.
Georgia Midland Ry— 1st M gold $1,650,000 int guar
98
Georgia Pacific— See Southern R y .
Georgia Railroad & Banking Co— S to ck _____________
307
Bonds refunding, not m ortgage, cu rrency______ c*
_
Rate
%
$3,660,000
573.000
100,000
772,000
4
7
5
334
$1.000&c
1,000 &c
1,000
1,000 &c
1904
1881
1897
1900
1893
1892
1902
1902
1907
1907
1904
1,000
100 &c
1,000
1,000
1,000
1,000
1,000
1,000
__
1881
1906
1907
1.000
100
100
1,000
1,000
100
1,000
F L O R ID A W EST SHORE R Y .— Turkey Creek, F la ., on Seaboard Air
Line, to Sarasota on the G ulf o f M exico, 56 miles. Including 4 m . o f track
age, with branches, 8 m .; total, 64 m . Stock authorized, $1,000,000, of
which S500.000 outstanding .practically all owned b y Seaboard Air Line;
par o f shares, $100.
Under contract o f 1903 the Seaboard Air Line is a
preferred connection and guarantees the outstanding bonds; V . 80, p. 1478;
V. 77, p 695. For year ending June 30 1906, gross, $130,811; net, $28,252;
total deductions, $37,752; b a l., d ef., $9,500.— (V. 80, p. 1478.)
FONDA JOHNSTOWN & GLO VE R SV ILLE R R .— Owns Fonda to N orthville (steam ), 26.2 miles; Gloversville to Schenectady (electric), 32.3 m .;
Gloversviile to Fonda (electric), 9.34 m .; Am sterdam to Hagam an (electric),
3.6 m .; Belt line In Gloversville (electric), 3.9 m .; second track (electric),
21.2 miles. Operates under lease branch line Broadalbin Jet. to Broadalbin,
5.2 m. (steam ); also local line Gloversville to Johnstown (electric), 4.23 m .;
Jidlngs and turn-outs, 11.7 m .; total, 97.47 miles o f road (118.67 miles o f
t ra ck ), o f which 96.87 miles on private right o f way and 21.8 miles on street,
and highways. S tock, $2,500,000;-par, $10.
Owns entire $105,000 stock o f Coal Co. o f Fulton Co. and stock o f Edison
Electric Light & Power Co. (V . 71, p. 1167.) V . 78, p. 29. Also a tw othirds interest in stock and bonds o f A dirondack Lakes Traction C o., 4 miles,
and the resort “ Sacandaga P a rk .” „
B O N D S .— O f the consol. 4 } i s o f 1902 ($7,000,000 authorized), $1,850,000
Is reserved to retire prior liens. V . 76, p. 265. Guarantees $30,000 G lov
ersville & Broadalbin 5s and $50,000 Johnstown Gloversville & Kings boro
Horse R R . 6s and $50,000 8 % stock.
L A T E S T E A R N S .— 11 m os., / 190R -07--G ross, $706,462; net, $338,457
July 1 to May 31.
\1905-06. .G ross, 644,095; net, 302,028
R E P O R T .— For year ending June 30 1906, gross, $728,710; net, $354,350;
Other incom e, $48,175; charges, $357,144; b a l., sur., $45,381.
FORT DODGE DES MOINES & SOUTHERN R R .— Owns or controls road
from Des Moines, I a ., to Fort Dodge and extensions to R ockw ell City and
N ewton, with 7-mile branch to Am es and local lines In Fort Dodge and
A m es, all equipped for steam service, and the main line between Des Moines
and Fort D odge, with branch to A m es, a total of 90 miles: also with electric
power for high-speed passenger service. O f this N ew ton to R ockw ell City,
102 miles, is the N ewton & Northwestern R R ., which Is controlled b y
ownership o f securities. See V . 85, p. 98.
S T O C K .— C om m on stock, authorized, $5,500,000; outstanding, $2,000,000; preferred 5 % non-cum ulative, $1,200,000; all issued.
B O N D S.— The first 5s o f 1907 ($3,500,000 authorized) are Issuable at
$14,000 per mile and the refunding 5s, o f which $3,500,000 are reserved to
take up the first 5s, at $17,000 per mile. Of the Newton & Northwestern
first 5s ($2,460,000 outstanding), about* 75% has been acquired b y the
F t. Dodge Des Moines & So. Mortgages cover also 3,218 acres coal lands.
V . 85, p. 98.
O F F IC E R S .— Pres., Hom er Loring; S ec., Lawrence H . Parkhurst.—
(V . 85, p. 98, 160.)
FORT SMITH & W ESTERN R R .— Operates Fort Sm ith, A rk ., to G u th
rie, O. T ., 216 miles, o f which Coal Creek, I. T ., to Guthrie, 196 m ., is owned
and Ft. Smith to Coal Creek, 20 m ., is Kansas City Southern trackage, to
be replaced b y com p a n y’s own road. The road will develop coal properties
at McCurtaln, I. T ., 40 m. west of Ft. Sm ith. In July 1906 acquired 51%
o f the capital stock o f the St. Louis El Reno & W estern R y ., Guthrie to El
R en o, O. T ., 42 miles. The latter will be operated Independently. Henry
C. Frick o f Pittsburgh, P a ., is understood to be largely interested.
S tock, $5,000,000, all outstanding; par $100. Of the 4s of 1904 ($7,500,000 a u th .), $5,833,000 were Issued In exchange for $5,000,000 old 5s,
$400,000 are reserved to replace the 20 miles of trackage m entioned above,
$400,000 for equipm ent, and'the balance for other purposes. In July 1903,
filed an agreement for the purchase of equipment costing $438,000. V . 77.
p. 88. For year ending June 30 1906, gross, $520,312; oper. expenses,
taxes and fixed charges, $585,837; b al., d ef., $65,525. Pres, and Treas.,
A . C. Dustin, Cleveland, O .— (V . 79, p. 269; V . 83, p. 213, 271.)
FORT W AYN E & JACKSON R R .— Owns Jackson ,M ich ., to F ort W ay n e,
I n d ., 98 miles. On A ug. 24 1882 leased perpetually to Lake Shore & M ich
igan Southern at a rental o f $126,027, equal to 5 H % on the pref. stock,
see V . 56, p. 812), and after 1887 any net earnings over 8 % on pref. stock
to be paid on co m ., but not exceeding 2% a year. Com m on stock, $436,132.
FORT W ORTH & DENVER C ITY R Y .— (See M a p Col. S o .)— F t. W orth ,
T e x ., to T exllne, 454 miles. Owns securities o f Ft. W . & Den. Term . R y .
S T O C K , & c.— Colorado & Southern R y . owns all but $330,725 o f the
$6,835,008 com m on Issued and all but $295,240 of the stam ped stock, and
In 1905 Included road In Its financial plan. P re f.stk .“ s ta m p e d ",V .6 3 ,p. 1063.
D IV ID E N D S .— On preferred. 2 % ’98; ’ 99, 2 % ; 1902, 2 % April 1903,
1904, 1906 and 1907, 4 % each from surplus earnings o f previous years.
B O N D S .— Finances readjusted in 1896. Plan V . 63, p. 75.
A b stra ct
o f m ortgage, V . 45, p. 440. Equipm ent trust certificates o f 1906, V . 82,
p. 1101; o f 1907, V . 84, p. 508.
A N N U A L R E P O R T .— R eport for 1904-05 was In V . 81, p. 1372. Earn
ings now Included in those of the Col. & So. system .
Yearend. JuneZQ—
1905.
1904.
1903.
1902.
Gross earnings_________ $2,526,496 $2,496,617 $2,494,587 $2,262,123
N et over taxes________
502,600
677,331
404,986
561,373
Other Incom e................ ..
14,359
11,248
17,534
............
For 8 m os. ending Feb. 28 1906, gross, $2,264,038; net, $810,957; other
Incom e, $6,230; taxes, $34,234; Int., & c., $336,318; bal., sur., $446,635.
Pres., Frank Trum bull, Denver, C ol.— V (. 82, p. 1156; V . 84, p. 508.)
G A IN ESVILLE M ID L AN D R Y .— Owns Gainesville, G a., to Athens, 42
miles, standard gauge, and Belm ont to M onroe. 32 miles, narrow gauge, to
be standard-gauged. Successor to a portion o f the Gainesville Jefferson
& Southern R y .. foreclosed July 5 1904. V. 79, p. 151, 269, 500, 627,
S tock , all outstanding, $550,000. O f the 1st 5s o f 1905 ($1,000,000 au
thorized), $14,000 is reserved to retire old 6s and $325,000 for extensions.
V . 81. p. 1848. The Savannah Trust Co. Is m ortgage trustee. V . 81, p.
1375, 1550. Year ending June 30 1906, gross. $108,939; net, $23,236; lnt
on bonds, $12,693; bal., sur., $10,543. Pres., Geo. J. Baldwin; S ec.,
F. J. Crohan. — fV. 81. d . 1848.)
712,000
5 g
200,000
6
500,000
4H g
800,000
4 g
50,000
6
350.000
6
4,687 000
454 e
See text.
5g
2,200,000
5 g
2,800,000
5 g
6,000,000
4 g
2,291,416
534
2,539,992 4 in 1907
8,176,000
6 g
546 000
5
376,000
5
1,000
661,000
1905
1,000
4,756,000
’71 - ’80
1881
1,000 13,418,000
800,000
1900
1882
£ or $
1,465,000
1882
£ or $
53,000
1,000
2,000,000
1883
1,000
500,000
1899
board Air Line R y.
1,000
1906
406,000
1,000
1904
See text.
1,650,000
1896
1,000
1897
IN T E R E S T OR D IV ID E N D S .
Size, or
Amount
Par
Value. Outstanding
1905
1874
1891
1903
[V ol.
5
6
5
5
4
4
5
5
g
g
g
g
g
g
g
5 g
5 g
3g
When
Payable.
Where Payable, and by
Whom.
lxxxy.
Bonds— P rin ci
pal, When D u e.
Stocks— Last
Dividend.
M
J
J
M
& N Office, Boston
& J
do
& D
do
& N
do
May
July
Dec
May
J
A
J
J
J
A
M
A
J
A
A
M
See
J
J
A
& J
& O
& J
& J
& J
& o
& N
& O
& J
& o
& o
& S
text.
& D
& D
& O
Jan 1 1934
April 1 1921
July 1 1947
July 1 1950
July 1 1913
Oct 1 1922
N ov 1 1952
Oct 1 1932
Jan 1 1932
April 1 1937
April 1 1954
Mar 1 07 2 % %
Feb 21 1907 4 %
Dec 1 1921
Dec ’07-June’ 14
Oct ’0 7-A p r ’ 17
M &
F &
M &
J &
A &
A &
A &
A &
M
J
A
N
A
N
J
O
O
24 Broad S t., New York
Im p & Trad Nat B k, N Y
New Y ork Trust Co, N Y
do
do
Metropolitan Tr Co, N Y
Farmers L & Tr Co, N Y
N Y Trust Co, N Y
Old Col T r Co, Boston
do
do
Am erican T r Co, Boston
Mercantile Trust C o , N Y
Farmers L & Tr Co, N Y
Morton Trust Co, N Y
Mercantile Trust Co. N Y
G uaranty Tr Co, N Y
Savannah, Ga
N ov
So Pac Co, N Y ; & Boston Feb
So P Co, 120 B ’w ay, N Y May
do
do
Jan
So P ac Co, N Y ; & Lond April
do
do
April
Mercantile Trust C o, N Y A p ril
Knickerbocker Tr Co.N Y iApril
o
o
& s Mackay & C o, N Y
& J Manhattan Tr Co, N Y
& o J P Morgan & C o, N
4,200,000 11 in ’ 06
Augusta, Ga
Q— J
1,000,000
5
& J New Y ork or A ugusta
J
1
1
1
1
1
1
1
1
1
1
1
1
1925
1924
1911
1923
1935
1910
1931
1930
1912
1912
1913
1929
Mar 1 1956
July 1 1954
Y April 1 1946
July 15’07 2
Jan 1 1922
%
GALVESTON H A R R ISB U R G & SAN ANTONIO R Y .— (See M ap South.
P a cific.)— Owns Galveston via H ouston. T e x ., to east bank o f R io Grande
River. 833 miles; Beevllle to R osenberg. 147 mllesrPort Lavaca to Cuero, 55
miles; Stockdale to Cuero, 46 miles, com pleted July 1906; branches, 233
m iles; trackage, 3 m .; total, 1,317 miles. Operated b y Southern Pacific C o.,
which owns $27,056,100 o f the $27,084,372 stock (par, $100). A consoli
dation in A ug. 1905 with the New Y ork Texas & M exican, G ulf Western
Texas & Pacific, San A ntonio & G ulf, Galveston H ouston & Northern and
Gonzales Branch R R . V . 79, p. 2642; V . 80. p. 1424; V . 81, p. 211, 668,
1242; V . 83, p. 1528. Stock is to be increased and new m ortgage made;
not arranged in June 1907.
B O N D S .— First m tge. has a sinking fund o f 1 % , but it is option al with
holders to surrender their bonds if drawn. W estern Div. 2ds ($6,354,000)
b y agreement are
treated as incom e bonds; V . 58, p. 719; V . 84,
p. 803. Equipm ent bonds, $1,558,000 6s, owned b y So. Pac. V . 76, p.
1300; V . 77, p. ^ 6 0 . Southern Pacific Co. and sink, funds o f proprietary
com panies also own $842,000 Matagorda Div. 1st M. 6s o f the old N. Y .
T ex. & Mex. R y ., $2,224,000 G ulf W est T ex. & Pac. 1st mtge. 5s and
$1,110,000 out o f a total o f $6,354,000 W est. Div. M. & P. E xt. 2d m tge.
6s; $1,000,000 G. H. & S. A . East. D iv. 2d 6s (extended), due June 1 1935,
are also owned b y So. Pac. or sinking funds o f proprietary cos.
Year 1905-06, Including Galv. Har. & S. A ., Galv. Houst. & N or., Gulf
W est. T ex. & Pac. and N . Y . T ex. & M ex., gross, $9,915,224; net, incl.
other incom e, $3,116,501; charges, $2,154,119; b a l., sur., $962,382.— (V .
81, p. 668, 1242; V . 84, p. 803.)
QALVESTON HOUSTON & HENDERSON R R . OF 1882.— Owns from
G alveston, T e x ., to H ouston, T e x ., 50 miles.
O R G A N IZ A T IO N .— The M. K . & T . and International & Great North,
have had trackage rights since D ec. 1895 under a contract providing for p ay
ment to mtge. trustee o f $100,000 yearly to meet Interest on G. H. & H.
bonds and an additional rental o f $24,000 per annum for dividends or other
purposes— see V . 61, p. 1064; V . 63. p. 697. M. K . & T . owns 4,999 shares
o f G. H. & H. stock— see V . 61, p. 1013.
Stock, $1,000,000; par, $100. Dividends paid in M ay, 1904 to 1906, 4 %
yearly. F or year ending Dec. 31 1906, gross, Including $124,000 for
trackage as above, $442,460; net, $182,786; other incom e, $2,615; in t.,
$100,000; dlvs., 4 % , $40,000; real estate and Im provem ents, $9,549;
b al., sur., $35,852.— (V . 65, p. 1114.)
GENESEE & W YOM ING R R .— R etsof, N . Y ., to Pittsburgh & Lehigh
J et., 11 miles: R etsof Jet. to Greigville, 4 m .; branch, 2 m .; total, 16 miles.
S tock, $500,000; par of shares. $100. Dividends from O ct. 1899 to 1902
in cl., 5 % yea rly; 1903, 8 % ; 1904, 8 % ; 1905 to A p r il 1907, 4 % yearly (A . &
O .). Year 1905-06, gross, $160,015; net, $45,028; Int., $25,000; dlvs. (4 % )
$20,000: balance, $28. Pres., E. L . Fuller, Scranton, Pa.; T reas., Mortimer
B. Fuller: S ec., H. D. Fuller, 170 B roadway, N. Y .— (V . 76, p. 1248.)
GEORGIA COAST & PIEDMONT R R .— E xtends from Darien to Col
lins. G a., 85 miles; com pleted In Julv 1906. Extension Darien to Bruns
w ick, G a., 15 m , was proposed In Dec. 1906. Stock auth.. $1,000,000.
Bonds, see table. V . 82, p. 804. Pres., Donald M ackay.— (V. 82, p. 804.)
GEORGIA F L O R ID A & ALABAM A R Y .— Owns Cuthbert. G a.. to Talla
hassee, F la ., 107 m .; Tallahassee to Carrabelle, on the Gulf o f M exico, 51
m .: branch. Havana. Fla., to Q uincy. 12 m .: tota l, 170 miles. Also oper
ates steamer line from Carrabelle to A p palachicola, Fla. Stock, $350,000:
par, $100. Bonds reported as outstanding Jan. 1907, $1,100,000 on 107
miles from Cuthbert to Tallahassee, $510,000 on 51 miles Tallahassee to
Carrabelle and terminals, and $122,000 on 12 miles Havana to Quincy.
V . 79, p. 2085. The stockholders on N ov. 13 1906 authorized $1,225,000
5% non cum . pref. stock on 168)4 miles, then operated, with $8,000 per
mile for additional mileage; no new stock had been issued to March 1907.
For year ending June 30 1906, gross, $373,330; net, $103,671; total de
ductions, $92,384; balance, surplus, $11,287. Pres.. J. P. W illiams; Sec.
and T reas., J. O. H atch. O ffice, Savannah, G a.— (V . 83, p. 213.)
GEORGIA & FLO R ID A R Y.— P rojected from Augusta, G a., to Madison
F la., 40 miles from the Gulf o f M exico, with branches, Including one to
Savannah, o f which 200 miles com pleted, 150 miles connecting lines being
under construction; total to be 350 miles. A further extension to deep wa
ter on Gulf of Mexico was under consideration. A proposed consolidation
In 1907 o f the Douglas Augusta & Gulf, Mlllen & Southwestern and other
roads, acquired by a syndicate organized by M lddendorf, Williams & Co.
and International Trust Co. o f Maryland and John L. W illiams & Sons o f
R ichm ond, Va. V . 82, p. 1211. Had option on 4 5% o f stock o f Savannah
& Statesboro R y ., 53 miles, Incl. 20 m. trackage. Capitalization to be,
com m on stock, $15,000, and non-cum . pref., $ 10,000, per mile. A fter 4%
on preferred, com m on is to be entitled to 4 % , then preferred to 6 % , then
com m on to all other earnings. Bonds to be limited to $12,000,000 at $20,000 per mile, o f which $6,000,000 reported in July 1907 to be underwritten.
Pres., John Skelton Williams; S ec., C. T. W illiams; T reas., F. E. Noltlng;
Gen. M gr., Cecil G abbett.— (V . 83, p. 95, 380, 687.)
GEORGIA M IDL AN D R Y .— Owns road from Columbus to M cD onough,
G a., 98 miles. Leased from July 1 1896, for 99 years to the Southern
Railway Co. for $49,500 annual rental (being Interest on the first m ortgage
bonds, &c.) and $2,500 for Columbus terminal property. Stock Is $1,000,000, owned b y Southern Railway C o.— (V . 63, p. 361; V . 82. p. 751.)
GEORGIA R A IL R O A D .— Under this name are operated the lines leased
from the Georgia R R . & Banking C o., which see.— (V . 67, p. 1260.)
GEORGIA RR & BA N KI NO CO.— Owns from Augusta, G a., to A tlanta,
G a., 171 m .; branches to W ashington and Athens, 58 m .; Macon & Augusta
R R . (proprietary ro a d ), Camak, G a., to M acon, G a., 74 m .; trackage, 4 m .;
tota l. 307 miles.
O R G A N IZ A T IO N .— Owns also one-half the stock o f the W estern R y. o f
Ala. (the Cent, o f Georgia R y . owning the other half); also a 47% Interest
In the A tl. & W est Point (which see). Guarantees (Jointly with Cent. R R .
& B. Co. of Ga.) the $1.543.000 first m tge. 4 H per cents o f W est. R y. of Ala.
In April 1881 the railroad (307 miles) and Its Interest In the other railroad
com panies were leased for 99 years to W . M. W adley and associates, for the
Cent, of Ga. and the Lou. & Nash., at $600,000 per year, but In A orll 1899
59
KAILWAY STOCKS AND BONDS.
J u l y . 1907. ]
RAILWAY STOCKS AND BONDS.
60
R A IL R O A D S .
For explanation of column headings, & c., see notes
on first page of tables.
Ga R R .& B a n k .C o.(Con).— B onds,not m ort.,cu r _c*&r
Bonds, not m ortgage, cur S200.000 are 5s o f '87.c* &r
Georgia S ou. & Florida— First .pref stock redeemable
Second preferred $1,084,000 5 % _______________
First m ortgage gold $4,000,000___________ MeBa.c*
First consol m ortgage $10,000,000 g o ld ____ N.c*&r
Equipm ent trusts Ser A& B $38,000 due sem l-an___
Gettysburg & Harrisburg— South Mt first m ortgage
Gettysburg & Harrisburg first m ortgage old Issue. .
Consolidated m ortgage $565 000 gold (see t e x t )- .
Gila Valley Globe & Northern— 1st M gold (text) ..M p
Glenville & Kanawha— First m ort $600,000 g o l d .. IB
Goshen & Deckertown— 1st & 2d M ($60,000 are 2ds)
Gouverneur & Oswegatchie— 1st M gold gu p & l.U n .c
Grand Rapids Belding & Saginaw—-1st M (text) gold
Grand Rapids & Indiana Ry— Stock $6,000,000_____
First M m ostly land grant gold extended in 1899.C
First M extended gold guaranteed b y Penn R R ___c
Second m ortgage $5,000,000 g o ld ________________ c
Grand Trunk Pac—-First M £ guar Can G ov (text)-C& r
Prairie Section M (Ser A) £2,100,0001 guar p &
Mountain Sec M (Ser B) £2,050,000 j- by Grand
Lake Sup Division 1st M $ 1 ,5 5 0 .0 0 0 .j
Trunk.
Debenture stock $25,000,000 redeem at 105 after ’ 36
Grand Trunk Ry— Consolidated stock £ 2 3 ,3 1 8 ,3 0 9 ..
4 % guaranteed stock non-cum ulative £ 1 0 ,0 0 0 ,0 0 0 ..
First preference 5 % stock £ 3,420,000______________
Second preference stock £2,5 30 ,0 0 0________________
Third preference 4 % stock £7,1 68 ,0 5 5 ___________ ]
Debenture stock £4,270,575_______________________ [
Consolidated debenture stock (collat trust) cu m ___|
Second equipment M (subject to 1st M In t r u s t )..c j
Great W estern perpetual debenture stock _______ c
Northern R y third preference A & B bonds_____ cl
Debenture stock 4 % perpetual £425,850_______ /
Midland o f Canada 1st M sectional £525,000____ cl
Consolidated first m ortgage £ 3,164,700______ cj
New England Elev 1st M g, gu due $10,000 yrly__
Montreal W arehousing 1st M $1 000 000 gold gu ar.
M iles Date Size, or
Par
Amount
of
of
Road. Bonds. Value. Outstanding
1880
$1,000
1,000
100
100
285 1895
1,000
392 1902
1,000
1902-6
1,000
1,000
1.000
1882
35 1891
1,000
125 1894
1.000
30 1907
1,000
12 ’8 8 -’89 500 & C ;
1,000
13 1892
28 1899
1,000
100
335 1891
1,000
1,000
335 1891
387 1896
1.000
1,700 1905 £100 &c
1,200 1905 £100 &c
500 1905 £100 &c
2 20 1905 £100 &c
’8 2 -’87
_ __
T ext.
___
__
_
_
__
3,512
836 %
490 U
455,
m
i
1882’
1884
’7 3 -’74
’7 3 -’74
r
1874
1874
11869
Var.
[1868
11884
[1878
11882
1901
1906
—
£100
£100
£100
£100
£100
£100
£100
£100
£100
£100
£100
1,000
$ & £
the Louisv. & Nash, was held to have acquired all rights under the lease;
A tlantic Coast Co. July 1899 acquired half interest. V. 68, p. 722; V . 69,
p. 385, 591; V . 70, p . 125. T a x decision, V . 85, p. 160. L ocom otive
trusts, $42,359.
D ec. 31 1892 the banking departm ent was turned over to "G eorgia
R ailroad B an k,” a m ajority ($198,200) of whose stock Is ow ned.
D IV ID E N D S .—
1
’81
'82
’ 83 to ’87
’ 88
’ 89 to July 1907
Since 1880. % J 9
1 0 14
10 yearly
10 %
11 yearly
E A R N IN G S (307 m iles).— J 1006-07____Gross. $2,806,020; net, $472,733
July 1 to Mf>y 31. 11 m os. 1 1905-06____Gross. 2,643,353; net, 754,599
Railroad earnings for year ending June 30 1906, gross, $2,842,497; net,
$778,682; d iv. received, $16,823; rental to Ga. R R . & B. C o., $600,000;
Macon terminals, $50,000; other paym ents, $18,724; balance, surplus.
$126,781.— (V . 82, p. 333; V . 85, p. 160.)
GEORGIA SOUTHERN & F LO R ID A R Y .— (See M a p of Southern R y.) —
Owns from M acon, G a., to Palatka, F la., 285 miles; on N ov. 1 1902 pur
chased A tl. V . & W . R y ., V aldosta, G a., to Jacksonville, F la ., 107 miles;
trackage Into Jacksonville, 3 m .; tota l, 395 miles. Also owns one-eighth
o f stock o f Jacksonville Term inal Co. V . 77, p. 626.
H IS T O R Y ..— A reorganization of the Georgia S. & F. Railroad, sold In
foreclosure April 2 1895. (Per plan in 'V . 60, p. 928; see also V . 59, p. 551.)
Macon & Birmingham R y ., La Grange to S ofkee, G a ., 97 m ., is owned by
same Interests, but operated Independently. V . 78, p. 702. In O ct. 1903
an Interest in the stock o f the HawklnsviUe & Florida Southern R y ., W orth
to H awkinsville, G a., 44 m ., was purchased, $310,000 first m ortgage 5 %
bonds being guaranteed, prin. and interest. V . 79, p. 2585.
D IV ID E N D S .— On 1st p ref., ’96, 4 % ; ’97 to May 1907, 5 % yearly. On
2d p ref., in ’97. 2 % ; ’98, 3 % ; ’99. 3 % ; 1900 to May 1906, 4 % yearly; N ov.
3906, 2yL<.%; 1907, M ay, 2 ,w % . Com m on stock is $2,000,000.
BO N U S.— First m ort. of 1895 (A bstract, V . 61, p. 429) provides that the
$684,000 1st pref. stock shall be a lien second on ly to the bonds and coupons.
The 1st consol. 4s of 1902 are for the authorized am ou nt of $10,000,000,
o f which $4,684,000 are Issuable to retire the $4,000,000 5s and $684,000 1st
pref. stock, and $3,316,000 are reserved for future needs. V. 75, p. 980.
L A T E S T E A R N IN G S ,—-/1 9 0 6 -0 7 _____ Gross, $2,083,461; net, $370,641
11 m os., July 1 to May 31.\1905-06... _ Gross, 1,778,777; net, 396.683
A N N U A L R E P O R T .— Fiscal year ends June 30. R ep ort for 1905-06
was In V. 83, p. 1093, show ing, gross, $1,944,945; net, $425,286; other in
com e, $18,579; interest on bonds, & o., $283,706; d iv. on stock , $77,560;
bal., sur., $82,599. Pres., W . W . F in ley, N . Y — (V . 83, p. 1170.)
GETTYSBURG & H A RR ISB U R G R Y .— Carlisle to G ettysburg, P a ., 31
m .: branch to R ound T o p , P a ., 3 m. The R eading Co. owns $540,700 of
the $600,000 capital stock, $535,000 o f which deposited as part security for
its gen. m ort. o f 1896. The con sol. 5s o f 1891 were guaranteed b y Phila
delphia & Reading R R . (foreclosed com p a n y).
G ILA V A L L E Y GLOBE & NORTHERN R Y .—-B ow ie, A rlz., to Globe
125 miles. S tock, $2,000,000, o f which Southern Pacific Co. owns $1,997,000. V . 71, p. 1314. Par, $100. The bond s, lim ited to $15,000 per mile
($1,508,000 outstanding), are guaranteed, principal and Interest, b y South
ern Pacific Co. V . 69, p. 27; guaranty In V . 68 p . 232.
D IV ID E N D .— D ividen d. 1901, 4 %; 1902, J an ., 4 %; In 1904-05, 20 %.
R E P O R T .— In 1905-06. gross, $903,359; net, $227,591; deductions,
$87,901; b a l., sur., $1.39.690.— (V . 79, p 1460.)
GLE N VILLE & K A N A W H A R R .— U nder construction from Glenville
to W eston, W . V a ., 30 miles. Stock,
(?)
. In ,1907 m ade a m ort
gage to secure $600,000 bonds. President, L loyd Rinehart, W eston, W .
V a.; V ice-Pres. and Gen. M gr., R ob t. L. R u d d ell; Treas., C. M. Bennett.
O ffice, G lenville, W . V a .— (V. 84, p. 570.)
GOUVERN EU R & OSW EGATCHIE R R .— Owns from Gouverneur to
Edwards, N . Y ., 13 miles. S tock , $350,000, all owned b y N . Y . C ent.—
which guarantees the bonds. See V . 55, p. 810 and V . 56, p. 501.
GRAND R A P ID S B ELD IN G & S A G IN A W R R .— Freeport to B elding,
M ich., 28 m iles. M tge. Is for $260,000 on 28 m iles and $9,000 per m . for
new construction. Leased for 30 years from Jan. 1 1900 to Pere Marq. R R .
(which owns the capital s to c k ), rental covering Interest.— (V . 70, p. 39.)
GRAND R A PID S & IN D IA N A R Y .— (See M a p s of Pennsylvania R R .)—
Owns from Fort W ay n e, In d ., to M ackinaw C ity, 367 m .; branches, 56 m .;
total ow n ed, 422 miles; operates the follow ing roads, but has not assumed
the old com p a n y’s leases thereof; Cln. R ichm ond & F t. W ayne R R ., 86 m .;
Traverse C ity R R . (nearly all the stock and all the Incom e bonds owned)
26 m .; Muskegon Grand Rapids & Indiana R R ., 37 m .; trackage, 7 m.
Traverse C ity Leelanau & M anistique R R ., Traverse C ity to N orthport,
M ich., 30 miles; see V . 74, p. 777: V . 76, p . 811; V . 82, p. 988, 1098.
H IS T O R Y .— Successor A ug. 1 1896 o f Grand Rapids & Indiana Railroad
foreclosed under second m tge. per plan In V . 63, p . 153.
ST O C K .— S tock, $6,000,000, o f which Pennsylvania Interests are sup
posed to own all or nearly all. Penn. Co. on Jan. 1 1907 owned $2,902,600.
D IV ID E N D S .— 1900, 1 %; 1901, 2 % ; 1902 to A pr. 1907, 3 % (yearly).
B O N D S .— The 1st m tge. bonds extended at 4 >5 % are endorsed with the
guaranty o f the Penn. R R . Co. to purchase the coupons as they m ature, and
the b on d Itself at m aturity. T hey have no lien on land grant. See guar
a n ty, V . 56, p. 649; V . 69, p. 1193. O f the seconds $888,000 were owned
Jan. 1 1907 b y Pennsylvania R R .
R E P O R T .— R eport for 1906 was in V . 84, p. 1050. In 1906 carried
2,961,420 tons o f freight, o f which 4 2% was lum ber, & c., and 14% coal.
Year ending Dec. 31.
1906.
1905.
1904.
1903
Miles op erated__________
424
424
415
430
Gross Incom e.....................$3,900,605 $3,605,649 $3,302,347 $3,401,654
Net over exp. & t a x e s ..
782,094
698,839
621,859
698,833
Interest charges for 1906, $406,461; other deductions, $89,471; dividends
(3 % ), $173,730; balance, surplus, $112,432.— (V . 84, p. 1050.)
GRAND T R U N K PACIFIC R Y .— (See M a p .)— This new tra n s co n ti
nental railway across Canada has received the approval o f the Canadian
G overnm ent, and will be carried through with the Joint financial support
o f the Governm ent and the Grand Trunk Co. R y. o f Canada.
It will
consist o f a main line of an estimated length of about 3,550 miles from
M oncton, New Brunswick, to a point near K al-En on the Pacific Ocean,
about 25 m iles south of P ort Sim pson, B. C ., with branch, 203 miles, viz.
$1,000,000
500,000
684,000
1,084,000
3,801.000
2,000,000
409,000
100.000
250,000
215,000
1.508.000
See text.
246,500
300,000
260,000
5,791.700
920,000
4.455,000
4,400,000
£3,200,000
£1,646,000
See text.
£1.358,000
£1,000,000
£22,475,985
9.629,315
3,420,000
2,530,000
7.168,055
4,270,375
15,135,981
373,000
2,723,080
14,600
347,990
426,200
1,016,500
340,000
1,000 000
[V ol.
lxxxv.
j
IN T E R E S T OR D IV ID E N D S .
'■Bonds— Princi
p a l, When D u e.
Rate
Where Payable, and by
When
Stocks— Last
Whom.
Payable.
Dividend.
%
6
5 & 6
5 In 1906
See te x t.
5 g
4 g
4K
5
6
5
5 g
5 g
6
5g
5g
3 in 1906
3H g
4^ g
4 g
3 $ or £
4
4
4
4
J & J
& J
J
M & N
M & N
J & J
& J
J
M & S
A & O
A & O
Various
M & N
A & O
Various
& D
J
M & S
A & O
J
& J
J
& J
A & O
& J
J
A & O
A & O
A
& O
M & s
4 in 1906
5 for ’06
5 for ’06
See text.
5
4
6
5
6
4
5
5
A & 0
A & 0
A & 0
Yearly
J & J 14
Q— J
J
& J
F & A
A & O
F & A
M & N
& J
J
J
& J
A & O
4
\A m .E xchange N a t.B k .l
/N ew York or Augusta /
M T & D Co, Balt; & N Y
do
do
do
do
do
do
Blair & Co. New York
Reading Office, Phila
Phila & R ead Office,Phila
do
do
So Pac Co, 120 B ’w ay,N Y
Jan 1 1910
Jan 1 1922
M a y l5 ’07 2J$ %
May 15'07 2 H %
July 1 1945
July 1 1952
Sep ’07-Sep '12
April 1 1898
Oct 1 1912
Oct 1 1926
N ov 1 1924
April 1 1937
N Bk Or Co, Goshen, N Y 1928-1929
Grand Cent Station, N Y June 1 1942
International Tr Co, Bost Mar 1 1924
Office. Grand R ap, Mich A pr 25'07 1 <4 %
W inslow ,Lan & Co, N Y July 1 1941
do
do
July 1 1941
Philadelphia. Pa.
Oct 1 1936
Bank o f M ont, L ond& N Y Jan 1 1962
IC o ’s Office. L ondon , orl April 1 1955
}■ Bank o f Montreal, > April 1 1955
J
New York
J April 1 1955
Perpetual
None ever paid
Check from C o’s Office A pr 26 1907 2 %
do
do
A p r 26’07 2)4 %
do
do
Apr 26’07 2 %
do
do
Apr 26 ’07 3 %
Irredeemable
Irredeemable
July 1 1919
G lyn, Mills, Currie & Irredeemable
Co, L ondon
Irredeemable
Irredeemable
May 1 1908
Jan 1 1912
July 1908-1941
Montreal or London
April 1 1936
1. Leased Line, to be Built by Canadian Government—
M iles.
Eastern D iv ., M oncton, N .B ., via Quebec to W innipeg, a b o u t .. 1,800
(T o be leased for 50 years to Grand Trunk Pac. R y. Co..— for first
7 years at cost o f operating only and for remaining 43 years at
3 % on cost o f con struction, but subject to V . 80,p. 997.)
2. Western D ivision, to be Built and Owned by Company—
a. Prairie Section, W innipeg to R o ck y M ountains, a b ou t_________1,336
b. M ountain Division, R ock y Mountains to Pacific Ocean, a b o u t.. 418
3. Lake Superior Branch, to be Built and Owned by Company—
Thunder Bay on Lake Superior to junction with Eastern Division
east o f W innipeg (to be com pleted in summer o f 1 9 0 7 )______ 203
T otal o f all, not Including sundry proposed branches______ 3,757
The Lake Superior branch, 203 miles, will be com pleted in the summer of
1907. O f the Prairie Section, W innipeg to E dm onton, 7’.t0 miles, is expected
to be com pleted In 1907. From Lake Superior .let. to W innipeg, 245 miles,
is under construction and contracts have been let on other portions o f the
road to be built b y the Governm ent. V . 84, p. 1052.
O R G A N IZ A T IO N .— Incorporated b y Canadian Legislature in 1904.
See full statem ent In V . 80, p. 996; V . 81, p . 1315. In 1906 application was
granted to Incorporate the Grand Trunk Pacific Branch Lines Co. to build
branch lines and to guarantee bonds to be Issued thereby. V. 82, p. 333.
S T O C K .— A uthorized, $45,000,000 (par o f shares, $100 each) o f which
the $25,000,000 com m on will be owned b y the Grand Trunk R y.
B O N D S.— On condition that the Grand T runk R y . Co. o f Canada guar
antee 2d m tge. bonds to provide the balance for the construction of the
W estern Division of the line, the Canadian Governm ent undertakes to guar
antee 1st m tge. bonds bearing interest at 3 % for an am ount up to 75 % o f
the cost o f construction of that division, such am ount (a) In the case o f the
Prairie Section not to exceed $13,000 per m ile, or £3,210,000 In all, and
(b) three-quarters o f whatever the cost per mile m ay be from the m ountains
to P ac.C oast, called Mountain Section. (V .80, p .996.1234; 1363; V.81 ,p.613)
Series “ A ” (Prairie Section) bond s, total issue limited to £2,100,000, and
Series “ B” (Mountain Section) bond s, not to exceed £2,050,000, are se
cured b y a 2d m tge. (N ational Trust C o., T oron to, trustee) on the railway,
equipm ent and tolls o f the C o., Including its leasehold Interest in the Eastern
Division, but not branch lines exceeding 6 miles In length, ships, grants of
lands (other than for railway purposes) and the rolling stock of the E ast.D iv.
or o f the above-m entioned branch lines of over 6 miles. These bonds are
unconditionally guaranteed as to principal and Interest b y endorsem ent on
each b y the Grand Trunk R y . Co. See form in V . 80, p. 996.
Although the m ortgage to secure the 3 % bonds guaranteed by the G overn
ment will rank before the m ort. to secure the bonds guaranteed by the Grand
Trunk R y. o f Canada, yet an agreement schedule to an A ct of 1904 provides
In effect that In the event of default by the com pany for 5 years In p ay
ment o f the int. on the 3 % bonds, the rem edy of the Governm ent shall be to
put In a manager to operate the Western Div. and to collect and distribute
net earnings pari passu between the holders o f the bonds guaranteed by the
Governm ent and the holders o f the bonds guaranteed by the Grand Trunk
R y. Co. In the proportion of 75 % o f such earnings to the holders of the
Governm ent bonds and 25 % to the holders of the bonds o f this division
guaranteed by the Grand Trunk R y . Co.
The m ortgage deed to secure the ser. A and ser. B bonds will provide that
separate accounts shall be kept of the tolls, earnings, Incomes, rents and
profits o f the Prairie Section and the Mountain Section, and that In the
event o f the trustee exercising the right of entry or sale thereby given In case
o f default by the c o ., the m oneys arising from each particular section and
available for the purpose shall, subject to the paym ent o f the working
expenditure of the section, be applied first In paym ent o f any Interest or
principal due on the bonds Issued in respect of such section.
Lake Superior branch bonds, total Issue limited to £1,550,000, are to be
secured by a first m ortgage on all the 220-mile Lake Superior Div. and are
guaranteed prln. and int. b y Grand Trunk R y. Co. (V . 80, p. 996.)
D E B E N T U R E S T O C K .— In 1906, $25,000,000 debenture stock was au
thorized, o f which $15,000,000 (£3,000,000) Interest guaranteed by the
Grand Trunk R R . under certain conditions (see V. 84, p. 570), to be Issued
as perpetual debenture stock; o f this, £1,000,000 was sold in Feb. 1907
V . 82, p . 568. 1102; V . 83. p. 155, 969; V . 84, p. 1050.
G E N E R A L F IN A N C E S .— In Feb. 1905 Speyer Bros. In L ondon . & c.,
offered at 9 9 ^ £3,004,000 4 % (2d) m ortgage sterling bonds due 1955, v iz .,
£1,646,000 ser. A (Prairie Section) bonds and £1,358,000 Lake Superior
branch bonds, all guar, b y the Grand Trunk R y . Co. (See V . 80, p. 996.)
In Mch. 1905 N. M. R othschild & Sons offered at 95 £3,200,000 1st m tge.
3 % sterling guar, b y Canadian G ovt. (V . 80, p. 1234, 1363; V . 81, p. 507).
O F F IC E R S .— P res., Charles M. H ays, Montreal, Can.; S e c., H enry
Phillips; Tre.is., Frank S co tt.— (V . 83, p. 155; V . 84, p. 570,1052.)
GRAND T R U N K R Y . OF C A N A D A .— (See M a p .)— Q uebec, Can., via
Montreal, to C hic., 111.; also to Portland, Buffalo, D etroit, T oled o, &c.
SY S TE M P R O P E R ,
REPORTED SEPARATELY.
M ajority stock owned.
M iles.
M iles.
Lines ow n ed____________________2,951 Central V e rm o n t* ................. ...... 531
Leased— partly owned.
Grand Trunk W estern*________ 338
Entire stock owned.
A tlantic & St. Lawrence, P ort
la n d ,M e., to Island P ond, V t. 165 D etroit Grand Haven & Mil* . 189
Buffalo & Lake H uron_________ 164 T ol. Sag. & M uskegon_______ I
96
Jointly owned.
Cincih. Sag. & M ackinaw *____
53
Other lines_____________________ 202 D etroit & T oled o Shore Line___
79
T otal In earnings.......................3,535
T otal roa d ___________________ 4,766
Car ferry. Grand Haven to Milwaukee. *See separate statement this Co.
As to Grand Trunk Pacific R y ., see that com pany above. V . 79, p. 2587.
The com pany on Sept. 30 1905 began operating Canada A tlantic R y. and
jruar., prin. and in t.. its 4 % bonds. V . 79, p. 967, 1331, 1641. 2455, 2620.
ST O C K , & c.— The authorized capital on Dec. 31 1906 was £46,436,364
stock (£43,751,354 issued and £2,685,010 unissued); advances from the
Canadian Governm ent In aid o f construction amount to £3,111,500. P er
petual consol. 4 % debenture stock authorized by A ct o f 1882, and later
A cts, has been Issued from tim e to time to acquire securities o f com panies
consolidated and controlled, am ounting Dec. 31 1906 to £8.396,688, and
J u l y , 1907. j
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, A c ., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
Grand Trunk Western— Northwest Grand Trunk 1st M
66 1880
1st M $15,000,000 lnt guar gold $ (cur) & £ _____ F 326.5 1900
2d M Income gold $1,500,000 redeem ( t e x t ) ____ Ta 326.5 1900
___ ____
Great Northern— Stock $200,000,000_________________
Ore trust certs 1,500,000 shares (not a Gt Nor issue)
_ _
St Paul Minn & Man— Stock originally $20,000,000
St P M & M 2d (now 1st M) g (does not cover 1'ds) .c*
624 1879
Dakota Extension first m ortgage g o ld _____ Ce.c* 1,221 1880
Consol M fori (now 1st M on lands) g o ld _Cef 2,655 1883
$50,000,000 /
\ 2,655 1883
Montana E xten 1st M ($25,000 p m) g_C e.c*& r
420 1887
Pacific Extension M £6,000,000 g o ld ___Ce.c*& r
818 1890
___ 1901
C B & Q col tr M g(sub to call aft Jan’06 at 105) S.c&r
___ 1901
do
do
do
_________registered____
Minn Un R R 1st M gold g u a r a n te e d _______ Ce.c*
3 1882
do
do
do
............. ...........
.......
3 1882
East o f Minn 1st M ($50,000 p m) g g u a r ..C e .c * & r
72 1888
North Div M $15,000,000 gold guar, red_M e.c*& r
299 1898
Mont Cent 1st M g ($6,000,000 are 6s) gu ar.C e.c& r
260 1887
W illm ar & Sioux Falls 1st M g g u p & 1 (end). Ce. c* &r
205 1888
Minneap W est 1st M $1,000,000 g gu (V. 60, p. 835) c*
2 1891
Spokane Falls & Northern first m ortgage gold .M a.c*
132 1889
Gt Nor Ry of Can— See Canadian Northern Que. R y .
___
Green Bay & W estern RR— Stock (see t e x t )_________
___ 1896
Debentures Class A Incomes text n o n - c u m _____ c*
___ 1896
Class B incom es, after 5 % on stock .n on c u m .-c *
___
Greene RR (N Y)— S tock____________
,
- .........
Greenwich & Johnsonville— 1st M $500,000 gold. Sc&r
21 1904
___ 1899
Guay & Q— 1st M $1 2,282,000 gold guar (text) . . I s m
62 1893
Gulf Beaumont & K C-— 1st M $10,000 p m g o ld .A B .c
62 1893
S e co n l M $10,000 p m ($176,000 are 6 s)______ AB c
Gulf B & Gt Nor gold p & I guar end (t e x t ).-A B .c
77 1900
___ . . .
Gulf & Ship Island— Stock $6,000,000 authorized____
First refund & terminal M gold sink fu n d ____N.c*&r
280 1902
____ 1907
Gulf Term, Mobile— 1st M $700,000g gu ( t e x t ) . . . c ’ &r
Hancock & Calumet— See Mineral Range R R .
a $11,502 000 additional pledged for Pacific Extensio n bon ds. c
d Subject to call after April 1928. e O n ly $232,000 In ha nds o f
.
Size, or
Par
Amount
Value. Outstanding
$500
£100
$500
100
None
100
1,000
1,000
1,000
1,000
1,000
£100 &c
$l,000& c
1,000 &c
1,000
1,000
1,000 &c
1,000 &C
1,000 <fec
1,000
1,000
1,000
$563,000
14,437,000
1.500,000
See text.
l,495,720sh
c342,000
6,261 ,000
4,833,000
13,344,000
19,250,000
al0,185,000
b£4,000,000
1107613000
;
2,150,000
650,000
4,700,000
d5,000,000
10,000,000
3.646,000
500,000
e2,812 000
100
1,000
1,000
100
1,000
1,000
500
500
1,000
100
1,000 &c
1,000
2,500.000
600.000
7,000,000
200,000
500,000
12,282,000
749,500
750,000
781,000
6,000.000
a 4 ,984,000
600,000
£1,748,848
£1,951,232
155,206
1,071,144
11,070
(4)275,358
(5)170,842
(5)126,420
(2)143,293
£1,588,470
£1,787,232
155,206
1,070,505
4,807
(4)255,532
(5)170,842
(5)126,420
B a la n c e ___________________________ sur.£8,714 def.£2,101 sur.£3,920
O F F IC E R S .— Pres., Sir C. Rivers W ilson. London: 2d V .-P . and Gen.
M gr., Chas. M. H ays.— (V . 83, p. 1228, 1469; V . 84, p. 390, 450, 1049.)
ORAND TR U N K W ESTERN R Y .— (See M a p Grand Trunk R y .) — Owns
from Port H uron, M ich, to Chic. & W est. Ind. R R ., 330 m ., and trackage
Chic. & West. In d ., 5 m .; total, 335 m. S tock. $6,000,000. all owned by
Gr. Trunk. Successor (V. 69, p. 954; V .7 1 , p .28) o f Chl.& Gr. Tr. foreclosed.
B O N D S.— The Grand Trunk unconditionally guarantees the Interest on
the new 4s. O f the 4s, $563,000 are reserved for N orthw. Gr. Trunk 6s.
The new Incomes are subject to call at 85 and any Int. then due, within the
first 10 years. Int. on Incomes, 1 % paid on July coupons In 1902 to 190S,
lncl.; 4 % in 1906. V . 83, p. 687. Jointly with Toledo St. Louis & W estern
guarantees Detroit & T oledo Shore Line bonds. V . 76. p. 653.
E A R N IN G S .— 11 m os.,\1906-07_____ Gross. $5,517,256; net, $783,068
July 1 to M ay 31. jl9 0 5 -0 6 _____ Gross. 4,912,681; net, 787,992
Year ending June 30 1906, gross, $5,350,926; net, $907,531; charges,
$814,661; 4 % on Incomes, $60,000; repaym ent Int. advanced b y Grand
Trunk R y . at June 30 1901, $30,278; sur., $2,592. (V . 83, p. 687.)
QREAT NORTHERN R Y .— (See M a p s.)— In F eb. 1890 leased the St.
Paul Minneapolis & M anitoba for 999 years, assuming Its funded debt and
guaranteeing 6 % per annum In gold on Its $20,000,000 stock. In 1906
only $342,000 o f Manitoba stock had not been exchanged for Great Northern
stock. (V . 68, p. 129; V . 67, p. 1356; V . 67, p. 370, 788. 842.)
Owned, unbonded—
M iles.
Lines leased and operated— M iles.
Seattle & Montana R R .—
St. Paul Minn. & Man. R y .,
St. Paul to Low ell, W ash___1,790 x Seattle to W estm inster______ 143
Anacortes
to
R ockport,
Branches In Minnesota, the DaW a s h ., <5cc__________________
73
kotas and M ontana_________2,088
Eastern R y. o f Minnesota—
T otal operated directly______ 5,032
Fosston to Cass Lake..............
60
Hinckley to D uluth_________
72
Stock owned— oper. separately—
Hinckley to Fridley_________
65 W illm ar & Sioux Falls—
New Dul. to Cass L ake______ 140
W lllm ar to Yankton , S. D . . 205
MIssIss., M inn., to H lbb ln g .
49
Garretson, S. D ., to Sioux
Brook Pk. to Coon Creek
C ity. I a ., and O ’ Neill, Neb. 228
June., & c_________________ 115 Duluth Watertown & Pacific—
Park R ap. & Leech Lake R y .—
W atertow n to Huron, D a k ..
Park Rapids to Cass L a k e ,.
49
Minneapolis U n. R y ., & c___
Dakota & Great Northern R y .—
Montana Central—
Gra’v . to Sherwood, N .D..& C
249
Great Falls to B utte, & c____
Duluth Terminal R y _ ............
Spokane Falls & Northern______ 208
Duluth Sup. & W est. T e r m ..
W ashington & G t. Nor. R y .—
Minn. <fc Gt. Northern R y .—
Marcus, W a s h ., to Republic,
Thief R iv . Falls to Green&c. (V . 73, p. 904, 1 8 4 )..
84
41 Vancouver Victoria & Eastern
bush, M inn________________
Montana & Great N or. R y .—
R y . & Navigation—
(V . 73. p. 904, 184.)
Grand Forks, B .C ., to Phoe
46
R exford , M on t., to Gate
nix, B . C ., & c____________
way ___________ __________
9
Total road, July 1908______ 6,289
Gt. Falls, M on t., to Sweet134 2d, & c., tracks and sidings____ 1,474
grass
During 1905-06 152 m . o f extensions were com pleted and 301 m . addi
tional were opened during 1906; grading on 199 m. was begun June 1 1906
and 44 m . had been graded, but no track was laid thereon until spring o f
1907. V . 83, p. 1104. As to Portland & Seattle R y ., 423 m ., to be built
Jointly with No. P a c., V. 81, p. 1100; V . 83, p. 1111. In April 1906 Cana
dian lines were proposed b y allied Interests from W innipeg westward to
V an couver, aggregating abou t 1,300 m iles, to be com pleted In abou t 2 years
V. 81. p. 669; V. 82, p. 928, 1156, 1268.
L A N D S .— Sales for year 1905-06 were 3,270 acres for $32,095 and 30
tow n lots for $ 1,770. The net am ount due on land contracts June 30 1906
was $902,662, lands unsold. 810,814 acres, to be reduced about 650,000
acres b y a final adjustm ent with U . S.
S T O C K .— In O ct. 1905 the authorized stock was Increased from $125,000,000 to $150,000,000 and In Jan. 1907 to $210,000,000. Outstanding
Jan. 1907. $149,572,200. In O ct. 1898 the stockholders surrendered the
right to issue com m on stock, all the stock being made up “ o f a single class
with uniform rights and privileges.”
Stockholders In Jan. 1907 were offered the right to'subscrlbe for $60,000,000 new stock r>ro rata at par, payable as follow s: 1907— A pr., 9 40 % ; May 7,
R K : .Tune 7. 5 % : J u lv 8, 5 % : A ug. 7 5 % - Sent. ft. 5*^: O ct 7. R«&: N ov. 7
5 % ; Dee. 6, 5 % . 1908— Jan. 7. 5 % ; Feb. 6, 5 % ; Mch. 6, 5 % ; A pr. 7,
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
Bonds— P rin ci
pal, When D u s.
Stocks— Last
Dividend.
6
J
& J Nat Bk of Com m erce, N Y
J & J Bank Montreal, L on& N Y
4 S
Up to 4 %
July
4 % paid 1905-1906
7 in 1906 Q— F Office, 32 Nassau St, N Y
do
do
6
Q— F
do
do
A & O New Y ork and London
6 g
M & N 32 Nassau St. New Y ork
6g
J & J
do
do
6 £
do
do
4H e J & J
J & D
4g
do
do
J & J N Y & L ond, Baring Bros
4g
& J New Y ork, etc.
1 4 g
J
1 4 g
do
do
Q— J
J
& J 32 Nassau S t, New York
6 g
J & J
do
do
5 g
A & O 32 N assau ,N Y ;L ee,II,B o
5 S
A & O
do
do
4 g
5 Sl 6 g J & J 32 Nassau St, New Y ork
J
& D
do
do
5 g
J & J N Y ds L ond, Baring Bros
5 g
6
J
A
J Chase N ational B k, N Y
Aug 1 ’07 i i < %
Oct 1 1909
N ov 1 1910
July 1 1933
July 1 1933
June 1 1937
July 1 1940
July 1 1921
July 1 1921
July 1 1922
July 1 1922
April 1 1908
1928-1948
July 1 1937
June 1 1938
July 1 1911
July 1 1939
5 Feb ’ 07
5 Feb '07
Feb 1 1907 5 %
Feb 1 1907 5 %
6
4 g
6 g
6g
5 & 6 g
5 g
See text.
5 g
4 g
Feb
Feb
& D
& J
& J
& A
& A
& J
Q— J
J & J
J
& J
J
J
J
F
F
J
Office. 40 W all St, N Y
do
do
do
do
D L & W Off, 26 E xch PI
Standard Trust Co, N Y
U S M & Tr C o.N Y ; &Lon
5 Nassau S t, New York
do
do
do
do
Buffalo, N Y
Fisk & R obinson, N Y
New York
Jan
July
July
A ug
1 1910
1 1930
1 1950
1 ’ 07 1 H %
June 19 '07 3 %
Jan 1 1924
Jan 2 1932
Aug 1 1913
A ug 1 1913
July 1 1930
Apr 15 ’07 1 %
Feb 1 1953
Jan 1 1957
All excep t $342,000 o wned.
b £2,000 000 additional held b y Gr eat Northern.
public.
«$16,000 o Id 5s o f 1 896 rema In outstanding.
bearing an annual Interest of £434,683. V . 71, p. 84. Guar, stock,
£750,000, was subscribed In 1903 and £500.000 In 1904; V . 78, p. 1962.
In 1906 £1,000,000 was offered. V . 82, p. 692. In Feb. 1906 It was p ro
posed to apply for authority to guarantee Toron to Union Station Co. bonds.
V . 82, p. 452. Montreal W arehousing guaranteed bonds, V . 83, p. 37.
D IV ID E N D S —
For ’98. ’99. ’00. ’01. ’02. '03. ’04. ’05. ’06.
4
4
4
4
4
4
Guaranteed 4 % s tock ____
4
4
% 2
5
5
5
5
5
5
5
5
First preferred____________
% 3
4
5
5
5
5
5
% 0
3 \i 3
0
0
0
1
2
0
2
3
% 0
E A R N IN G S .— 11 m os.,! 1906-07___Gross, $30,880,859; net $8,848,269
July 1 to May 31. Jl90 5 -06 __.G ross, 27,918,134; net, 8,113,428
R E P O R T .— Statem ent for 1906 was in V . 84, p. 1049.
Years ending Dec. 31—
1906.
1905.
1904.
Gross earnings_______________________ £ 6,6 06 ,5 '’8 £6,018,001 £5,689,130
Transportation expenses____________
4,746,318
4,269,153
4,100,660
Net ea rn in g s ______________________ £1,860.210
T otal net incom e__________________ £2,100.993
R entals____ i.__________________________
£155,206
Interest on bonds and deb. s tock ____
1,<;70,923
A dvances to con trolled roads_________
41,537
Dividend on guaranteed s tock _______
(4)312,411
Do
on 1st preferred s t o c k _____ (5)170,842
Do
on 2d preferred s to c k .........._ (5)126,420
Do
on 3d preferred stock ............ (3)214,939
61
5 % . Proceeds will be used for additional equipment , extensions, to acquire
securities o f subsidiary co s., &c. V . 83, p. 1469; V . 84, p. 749, 803.
T he Union Pacific system in Mch. 1907 ow ned $9,036,400 stock. V . * 3 .
p. 1332, 1322; V . 84, p. 509.
D IV ID ’ DS, 1’92 to ’96 (inclus.) '97. ’98. ’ 99. ’00. ’ 01. 1902 to A u g '07.
Gt. N orth ./
5 % yearly.
5 ^ 6 ^
7
7 7 ^ 7 % yearly, Q -F.
Also In 1898 50 % in Seattle & M ont. stock, which was then exchanged
for 40% in Gt. N or. pref. V . 66. p. 1044, 1188; V. 74, p. 829. And in Dec.
1906, unit for unit, 1,500,000 certificates o f beneficial interest in the iron ore
properties. See “ General F inances” below.
B O N D S.— St. P. Min. & Man. consol, mtge. o f 1883 is for $50,000,000, o f
which bonds are reserved to pay prior liens. It is a first lien on the land
grant and on 670 m. of railway in Minn, and a second lien on the rem aining
1,873 miles in Minn, and the Dakotas, the prior Hens on which average only
$5,900 p. m. V . 64, p. 518. Montana E xt. m tge. is for $25,000,000 for
extensions and for second track. A bstract, V . 45, p. 342.
P acific Extension m tge. £6,000,000 provides for bond's at £6,000 per
mile In Montana and £7,000 per mile west of Montana; £3,000,000 o f this
issue (of which £1,000.000 sold) were released upon paym ent of collateral
trust bonds Sept. 1 1898. V . 66, p. 1044, 1188; V . 80, p. 1111, 1174.
See ab«tract of m ortgage, V . 52, p. 82.
In 1904 the Gt. N orthernand Nor. Pac. had acquired $107,612,600 o f the
Chicago Burl. & Quincy R R . $110,839,100 stock. In exchange for their
join t 20-year 4 % gold bonds, secured by the deposit of the stock In trust,
on basis of $200 In bonds for each $100 stock. See circular, V . 72, p. 871,
1034, 1135, and application to list V. 73. p. 294, 903.
Eastern Railway of M innesota.— First m tge. covers road, equipm ent, ter
minals and elevators. The Northern Div. $15,000,000 mtge. of 1898 pro
vides for extension built from F’osston, Minn., to the head of lake naviga
tion at Duluth, and also for future requirem ents, Including the retirement o f
the $4,700,000 1st 5s at m aturity. They are redeem able at 105 on three
m onths' notice after April 1 1928. V . 66, p. 471. M ontana Central bonds
cover several roads. (See adv. "C h ronicle” Dec. 12 1891.) The M anitoba
guarantees these Issues, and Gt. Nor. assumes guar. See guar., V .74, p .680.
The Wlllmar &, Sioux Falls bonds are endorsed with Joint and several
guar, o f the Manitoba and Gt. N or. com panies. Further Issues m ay be made
at $17,500 per mile for additional road. V . 56, p. 247.
M inneapolis Western first m tge. Is for $1,000,000. V . 60, p. 835.
G E N E R A L F IN A N C E S .— Total funded d ebt per mile o f main track
(4,829 miles) In the hands o f the public June 30 1906, $20,756. V . 83, p.
1107. Trainload. 1905-06, 529 tons, against 522 In 1904-05.
Stockholders in N ov. 1905 subscribed for $25,000,000 stock at par and
In Jan. 1907 were offered the right to subscribe for $60,000,000 stock at par,
payable In installments to April 1908. See STOCK above.
In Oct. 1906 a contract was signed for a lease o f the ore lands to the U. S
Steel Corp., to continue until the ore Is exhausted, unless the lease Is term i
nated on Jan. 1 1915 under the option reserved to the Steel C orp., on a ro y
a lty basis o f $1.65 per ton standard ore with 3.4 cts. per ton increase each y r .;
minimum tonnage to be m ined, 750,000 tons during 1907, with 750,000 in
crease each year until 8,250,000 is reached. The iron ore properties were
transferred to Louis W . H ill, James N. H ill and W alter J. H ill as trustees,the
1,500,000 shares o f beneficial Interest In the trust equal to the num ber of
shares of stock held being issued Dec. 1906 to Great Northern stockholders.
The profits from the iron properties, after first deducting the 80c. per ton
payable to the Gt. Northern R y for carrying the ore to the docks on Lake
Superior will be distributed along with any profits from other ore leases
at least once a year to the holders o f the trust certificates.
See V . 83
p. 818, 969, 1228, 1290; V . 84, p. 693, 749, 996.
E A R N IN G S .— Great Northern system (lncl. St. P. M. & M ., Eastern o f
Minn, and M ontana Central) July 1 1906 to June 30 1907, 12 m onths,
$55,993,426, against $52,259,687 in 1905-06.
A N N U A L R E P O R T .— R eport for 1905-06 was given at length in V . 83
p. 885, 1090, 1103. See also editorial, p. 1068.
O P E R A T IO N S G R E A T N O R T H E R N SYSTE M P R O P E R .
Year ending June 30—
1906.
1905.
1904.
5,906
5,723
5,623
A verage miles o p e r a t e d ___' _________
Gross earnings-........................................ $51,276,280 $43,526,088 $40,057,352
Net earnings .................. .......................... 23,651,761 20,567,239 18,045,010
Per cent, o f expenses and taxes______
53.87
52.75
54.95
G R E A T N O R T H E R N INCOM E ACCOU N T.
Year ending June 30—
1906.
1905.
1904.
Net earnings St. P. M. & M an_______ $21,520,668 $18,816,731 $16,679,978
397,406
392,227
395,896
Interest on bonds ow n ed .
965,247
Dividends on stocks ow n ed __________
973,325
751,340
123,824
119,851
Rentals o f leased lines_______________
119,751
2,709
4,013
Bills receivable______________________
1,492
354,296
713,117
891.144
General interest and other incom e___
T otal receipts ...................................... $23,722,970 $21,197,291 $18,302,748
Paid rental St. P. M. & M a n ............... $4,107,095 $4,001,555 $3,973,603
Great Northern d iv id e n d s .................. (7)9,148,520 (7)8,693,860 (7)8,683,925
Interest on sterling loan______________
151,875
364,500
212,625
Renewal, & c., funds................................ 5,130,911
3,000,000
2,000,000
Balance, surplus__________________ - $5,184,569 $5,137,376
$3,432,595
(3) O P E R A T IO N S OF W H O L E SYST E M .
Tot. net inc.
Year. end. June 3 0 ’06.
Gross.
Net. Oth. Inc.
Great Northern R y _____ $46,259,550 $21,520,668 $1,298,802 $22,819,470
27,426
1,329,515
M ontana Central R y . . . 2,840,227
1,302,089
7,912
766,184
W ill. & Sioux Falls R y . . 2,017,922
758,271
282
71,015
Dul. W ater. & Pac. R y .
158,581
70,733
T ot. R y . sys. p r o p e r ..$51,276,280
Spok. Fails & No. sys___ 1,412,244
Minneapolis U nion_____
290.664
Minneapolis W estern___
59,882
Duluth T erm inal______
37,591
$23 651,761
509,862
207,195
18,244
13,500
T ot. for system ........... $53,076,661 $24,400,562
$1,334,422 $24,986,183
64,770
574,633
9,983
217,177
81
18,325
................
13,600
$1,409 256 $25,809,818
62
RAILWAY STOCKS AND BONDS
[V o
l lx x xv
.
J u l y , 1907. J
RAILWAY STOCKS AND BONDS.
J u l y . 1907.|
m
s
& c
IToolennt
HALLWAY STOCKS AND BONDS.
Snake.
-SHORT,
65
RAILWAY STOCKS AND BONDS.
60
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
MlXes
Date
of
of
Road. Bonds.
Hannibal & St Joseph— See Chicago Burlington & Qul ncy.
Harriman & Northeastern— First m ortgage g o ld -_ -C e
22
Harrisburg Portsmouth Mt Joy & Lane— Stock 7 % gu
53
First M (extended in 1883) guar p & 1 Pa R R .G P .r
53
Hartford & Connecticut W estern— S tock__________ 109
109
First m ortgage extended in gold in 1903___________
Hawkinsv & FI So— 1st M $400,000 gold guar p & i
Henderson Bridge Co— See Louisville & Nashville R R .
Hibernia Mine R R — S tock ___________ - - - - - _____
4U.
H ocking Valley Ry— Stock com m on $11,000,000____
Stock preferred non-cum (see text) subject call at par
...
76
Columbus & H ocking Valley first m ortgage gold - _c*
Col & Tol 1st M gold (Col to W alb) exten 1905. . S.c*
118
85
Ohio & W est V a 1st M (Logan to P om eroy )_____ c*
346
First consolidated m ortgage $20,000,000 g o ld ___Ce
Equipm ent notes payable m onthly
____________
Oar trusts gold $80,000 seml-an (V 75, p. 7 4 1 ) ___S
___
E quip notes gold Ser A due $23,000 sem l-a n n -. Usm
do
do Ser B due $48,000 sem i-annually. .
do
do Ser C due $37,000 sem i-annually___ •
Bonds o f coal companies guaranteed. See Sunday Creek
To be Issued and assumed under consolidation plan.
Stock authorized, $13,750,000- - ____ _____________
General lien m ortgage $30,000,000 g o ld ___________
164
Kanawha & Michigan first m ortgage_________ Ce.c*
_ _
H oosac Tunnel & W ilm ington— S tock ________________
First m ortgage $250,000 a u t h .g o l d ____________ OB
25
Hous E & W Texas— 1st M gu p & i b y So P a c_Un.c*
191
1st M $3,000,000 g not g u aran teed ________________
191
Houston & Texas C RR— State of Texas pr lien 1st 75m
75
453
1st M 1 gr g red 110 int gu $4,140,000 paid Ce.c* &r
Cons M land grant gold red at 110 int guar__F.c*<fcr
453
General m ortgage gold interest guar end. . Mp,c*&
453
W aco & N W D iv 1st M g $25,000 p m -.C e .c* & r
58
Austin & Northwest 1st M gold guar p & I.M p .c*& r
103
F t W orth & New Orleans 1st M (W ax to Ft W orth)
41
C T ex & N W 1st M guar So P ac (Gar to W a x ) - .. F
12
__
__
__
1895
1853
1883
1902
Size, or
Am ount
Par
Value. Outstanding
$100 &c
50
500 &c
100
1,000
$300,000
1,182,550 7 ^
700,000
2,964,300
700,000
310,000
[V o l .
IN T E R E S T OR D IV ID E N D S .
RaU
%
6g
in ’06
4
2
4H e
5 g
When
Payable.
Where Payable, and by
Whom.
J & J;Central Trust Co, N Y
& J ’C om pany’s Office, Phlla
J
J
& J
do
do
F & A 31;H artford
& J
do
J
A & O
lxxxy
.
Bonds— P rinci
pal, When D u e.
Stocks— Last
Dividend.
Jan 1
Jan 10
July 1
Feb 28
July 1
1952
1916
’07 314
1913
1907 1 %
1923
____
100
200,000
A & O See Central o f New Jersey A pr 10 ’07 3 %
6
100 11,000,000 See text. J
& J J P Morgan & Co, N Y jJuly 15 1907 2 %
100 15,000,000 4 in 1907 J
& J
do
do
July 15 1907 2 %
500 &c
1,401,000
A & O
do
do
1867
Oct 1 1948
4 g
2,441,000
1875
1,000
F & A
do
do
Aug 1 1955
4g
1,000
1,584,000
do
do
1880
7
M & N
May 1 1910
do
do
1899 1,000 &c 14,114,000
July 1 1999
4H g J & J
’ 0 0 -’01 Various
129,610 5 & 6
Various
do
do
T o July 1908
1902
1,000
800,000
do
do
N ov ’07-M a y ’ 12
4H e M & N
435,000
1,000
4
F & A New Y ork
Feb '0 8 -F e b ’ 17
1907
4
1907
. 1,000
912,000
F & A 15 New York
T o Feb 15 1917
1907
1,000
740,000 A & O _
Chicago
T o A pril 1 1917
Co und e r “ Indu strlals.”
__
1906
1890
1892
1893
1893
1870
1890
1890
1890
1900
1891
1895
1881
100
1,000
100
1,000
1,000
1,000
-
1,000
1,000
1.000
1,000
1,000
1,000
1,000
13,750,000
17,000,000
4 g
2,469,000
4 g
250,000 See text.
244,000
5 g
2,199,000
5 S
801,000
5 g
6
See text.
3,539,000
5 g
1,570,000
6 g
4,275,000
4 g
1,105,000
6 g
1,920,000
5 g
709,000
6
180,000
6
J
& J
A & O
See text.
M & s
M & N
M & N
j
A
A
M
J
J
A
&
&
&
&
&
&
&
j
O
O
N
J
J
O
Central Trust Co, N Y
W ilm ington, V t.
Old Colony Tr Co, Boston
120 B roadw ay, N Y
do
do
H ouston, Texas.
120 B roadw ay. N ew York
do
do
do
do
do
do
do
do
do
do
120 B roadw ay, N ew Y ork
July 1 1936
April 1 1990
1905-1906 3 %
Sept 1 1922
May 1 1933
May 1 1933
Annually
July 1 1937
Oct 1 1912
April 1 1921
May 1 1930
July 1 1941
Dec 31 1925
Oct 1 1911
1
F rom this last result ($25,809,818) In 1905-06 paid total Interest charge
o f all com panies, and guar’d divs. on St. Paul Minneapolis & M anitoba
sto ck , & c., not ow ned, a total o f $8,187,770, and dividends of $9,148,521
on the stock o f the Great Northern R y . Co. and $5,130,911 for appropria
tion for renewal, Im provem ent and equipm ent fund.s
In 1901-02 (10 months) received $800,000 (5 % ); In 1900-01, $1,920,000
(12 %) In dividends on Eastern R y . o f Mlnn. stock: In 1902-03, on M ontana
Central stock, $250,000 (5 % ), and In 1903-04, 1904-05 and 1905-06,
$350,000 (7 % ), and on W lllmar & Sioux Falls stock In 1902-03, $1903-04,
1904-05, each $280,000, and In 1905-06, $490,000.
O F F IC E R S .— Chairman, James J. H ill, St. Paul; President. Louis W .
H ill, St. Paul; 1st V .-P ., Frank H . McGuigan; 2d V .-P ., R . I. Farrington;
3d V .-P . and S ec., E. T. Nichols, N. Y .; 4th V .-P ., B. Cam pbell; Treas. and
A sst. S ec., E. Sawyer, St. Paul; A sst. Sec. and Asst. Treas., N . Terhune,
N . Y . New Y ork office, 32 Nassau Street.
Directors— J. J. H ill, Frederick W eyerhaeuser, E. Sawyer, Frank E.
W ard, R . I. Farrington, H . W . Cannon, Samuel Thorne, Louis W . H ill,
W m . B . Dean.— (V . 84, p. 339, 450, 508, 570, 626, 693, 749, 803, 996.)
OREEN B A Y & W ESTERN R R .— R oad owned from Green B ay, W ls.,
to M arshland,W ls., 209 miles; branches, 13 m .; trackage to W inona, 4 m.
H IS T O R Y .— A reorganization June 5 1896 (per plan in V . 61, p. 471) of
the Green B ay W inona & St. Paul, sold in foreclosure May 12 1896. P ro
tective com m ittee, V . 84, p. 220.
S E C U R IT IE S .— There are no fixed charges on the property other than
•axes, nor can any be placed thereon, or the property be sold or leased w ith
out consent o f 75 % o f stock. Class A debentures are entitled to 2 H % In
terest, if earned, then com . stock to 2 K % , then the tw o share ratably; but
after 5 % has been paid on both , class B bonds are entitled to all surplus
earnings. See V . 61, p. 471. A readjustm ent plan Issued in O ct. 1906
w as withdrawn in Jan. 1907. V . 84, p. 220.
D IV ID E N D S .—
1 ’ 98. ’99. ’00. ’01. ’02. ’03. ’04. ’05. ’ 06. ’07.
Class " A ” debentures____ %j- 2 H 2 K 2 ^
3
4
4
4
5
5
5
S t o c k ....................................% j
1H 2 ^
3
4
4
4
5
5
5
R E P O R T for year ending Dec. 31 1906, in V . 84, p. 689, showed:
Yr.
Gross.
Net.
Taxes,& c. Debenture A .
On stock. B al.,sur.
1906 .$636,121 $237,356 $21,461 (5% )$30,000 (5% )$125,000 $60,894
1905 _ 586,420
210,837
18,924 (5 % ) 30,000 (5 % ) 125,000 36,913
From balances as above were paid $30,000 yearly for general improvem ent
fund and In 1906 $25,000 for special (back) tax fund.
D IR E C T O R S .— S. S. Palm er, Pres.; Mark T . C ox, Sec. and Treas., 40
W all St.: C. Ledyard Bla r, J. A . Jordan, W . J. H unt.— (V . *<4, p 689.)
QREENE R R .— Owns road from Chenango Forks to Greene, N . Y ., 8
miles. Leased to Delaware Lack. & W . for term o f charter for 6 % on stock.
Capital stock , $200,000; par, $100.
The $200,000 7 % bonds which ma
tured Dec. 1 1902 are held In the D. L . & W . treasury.
GREENW ICH & JOHNSONVILLE R R .— Owns from Schuylerville to
Johnsonville, 21 m iles. Extension from Greenwich northeast to R exlelgh, 10 miles, is under construction. Stock, $225,000, o f which the Dela
ware & Hudson Co. owns $175,000, acquired in 1906. V. 84, p. 626. Bonds,
see table above. For year ending June 30 1906, gross, $74,391; net, $27,513; Interest on bonds, $18,400; dividend (4 % ), $9,000; bal., sur., $113.
Pres., I. C. B landy
Office, Greenwich, N. Y .— (V . 85, p. 40.) j
GU ATEM ALA R Y .— V. 76, p. 265; V . 78, p. 988, 1497; V. 79. p. 902.
G U A Y A Q U IL & QUITO R Y .— (3 V$-ft. gauge.)— Projected from Guaya
quil to Quito, E cuador, about 286 miles, with two branches. Of this, 204
m iles, from Guayaquil to A m bato, are in operation and remaining 82 miles
xpecteti to be in 1907. V . 81, p. 556; V . 83, p. 1170. Stockholders were
o vote on July 25 1907 on "fu rth er con struction,” & c., o f lines. V . 85,
p. 160.
S tock authorized, co m ., $7,032,000; p ref., 7 % cu m ., $5,250,000. The
bonds are guar. prin. and int. b y the Governm ent o f E cuador, secured b y a
first lien on all the Customs duties o f the latter. It receiving In consideration
49 % o f the com . stock. Interest in London Is payable at Glyn, Mills, Cur
rie & Co. All the bonds are purchasable for a s. f. o f 1 % yearly, and In ad
dition $1,014,000 (o f which $417,000 arc now outstanding) are subject to
call at par for a special sink, fund; bonds in sink, fund Jan. 1907, $1,900,000.
For calendar year 1904 earnings were: Gross, £68,049; cash from Govern
m ent o f E cuador to pay interest on bonds, £121,348; total, £189,397; oper.
expenses, £67,600; interest o n bonds, £121,348; bal., sur., £449.
P re s., ArcherHarman; V .-P ., T . H. Powers Farr, New York; Sec. and
Treas., John ,T. Glnnane. N . Y . office, 25 Broad S t.— (V . 85, p. 160.)
GULF BEAUMONT & K. C. RY — See A tch. T op . & S. F.
GULF & INTER STATE R Y .— See page 178.
GULF LINE R Y.— T o own Ashburn, Ga., to B ridgeboro, 32 miles; track
age, A sh bu m to W orth, 6 miles; leases (to April 1 1953, with option to pur
chase) the Hawkinsvllle & Florida Southern, Hawkinsville to W orth, 44
miles; total, 79 miles. Proposed line will extend from Hawkinsvllle to
Bainbridge. G a ., about 130 m iles, and extension projected from latter point
to the Gulf, about 100 miles. It is projected eventually to build from
A ugusta, G a., to the Gulf o f M exloo, with trackage rights to A tlanta,
V . 84, p. 1247. About, to be Incorporated In June 1907 and acquire the
Flint R iver & G u lf.— (V . 84, p. 1247.)
GULF & SH IP ISLAN D R R .— Owns road from G ulfport, on Missis
sippi Sound, G ulf o f M exico, to Jackson, Missi., 160.5 miles; Columbia
division, Maxie to Mendenhall, 104.75 miles. Branch from Saratoga to
Laurel, 41.75 miles; total, 307 miles. Im portant harbor improvements
have been constructed at G ulfport, including an extensive system o f docks,
piers, & c.; also a channel 7 miles long extending to deep water.
ST O C K .— Capital stock. $6,000,000 (par o f shares ,$100), all outstand’g.
D IV ID E N D S .— Apr. 1903 to July 1905, ln cl., 1 % quar.: Jan 1906. 2 %
A pril, July and O ct., 1% each; 1907, Jan ., 1 % ; A pril, 1 % ; July, 1 % .
B O N D S.— Of the 1st 5s ($5,000,000 authorized), $2,750,000 were used to
refund the old bonds (only $16,000 o f the latter being now outstand
ing); the remainder were Issued as follows: $1,000,000 to com plete the ter
minals at G ulfport, $500,000 for new equlpm ’ t and $750,000 for 75-lb. rails
and other im provem ’ts to roadbed and structures. A s. f. o f 1% yearly,
which becam e operative Jan. 2 '05, m ay purchase bonds at not exceed'g 110.
but the latter cannot be draw n, bonds so purchased to be kept alive in sink
ing fund as an investm ent. T o July 1907 $157,000 had been purchased.
Sea V . 74 p. 426, and application to list V . 74, p . 1257; V . 81. p. 264.
E A R N IN G S .— 11 m o s.,1 1906-07______ Gross, $2,279,881; net, $569,615
July 1 to M ay 31.
J19 0 5 -06 -..........Gross, 1,953,784; net, 629,339
R E P O R T .— R eport for year ending June 30 1906 was given in V. 83, p.
886.905, showing (284 aver, m iles): In 1905-06, gross, $2,138,778; net over
taxes, $681,667; other incom e, $25,392; charges, $305 784; balance, sur
plus, $401,275. Pres., J. T . Jones, Buffalo, N. Y .— (V . 83, p. 377, 905.)
GULF TE RM IN A L CO., M OBILE.— Owns union passenger station and
approaches at Mobile, A la ., leased b y the Southern R y . and Mobile & Ohio
R R ., which own the stock and guarantee the bonds jo in tly and severally,
principal and interest, by endorsem ent. Franklin Trust C o., N. Y ., is
m ortgage trustee. V . 84, p. 50.
H A RR IM A N & NORTHEASTERN R Y .— Harrlman to Petros, T e n n ., 22
miles. In Jan. 1903 entire stock acquired In the interest o f the Cincinnati
New Orleans & Texas Pacific R y ., but Is operated separately. V . 76,
p. 157. S tock, $600,000. Year to June 30 1906, gross, $115,339; net,
$44,951; charges, $31,253.— (V . 76, p. 212.)
H ARTFORD & CONNECTICUT W ESTERN R Y .— H artford, C on n ., to
Rhlnecllft, N . Y ., 109 miles, and branch , 14 miles. Leased till A ug. 1940
to Central New E ngland R y . (now controlled b y New Y ork New H aven &
H artford R R . ) , the rental paying charges and 2 % per annum on the stock,
($2,964,300 outstanding), of which $1,640,000 owned by lessee. The stock
holders voted Aug. 24 1906 to Increase the stock b y $250,000, the new
stock being given to lessee to reimburse it for advances, Increasing am ount
as above. V . 83. p. 1290.— (V . 76, p. 1084; V . 83, p. 95, 213, 1290.)
H A W K IN S V IL L E & F L O R ID A SOUTHERN R Y .— W orth to Hawkins
ville, G a ., 44 miles. Leased to G ulf Line R y . until A pril 1 1953, with option
o f purchase. V . 84, p. 1247. S tock, $100,000, o f which one-half acquired
in A pril 1904 b y Georgia Southern & Florida, which guarantees bonds (see
table a b o v e ), principal and Interest. Year ending June 30 1906, gross,
$65,990; net, $14,834; total deductions, $18,764; balance, deficit, $3,930.
P res., Bird M. R obin son , 277 B ’w a y.; T reas., C. H . R eynold s.— (V . 84.
p. 1247.)
H IB E R N IA MINE R R .— Owns from R ocka w a y, N. J ., to H ibernia
Mines, N . J ., 4}£ m . Leased to Central o f N . J. In 1890 for $12,000 per an.
H OCKING V A L L E Y R Y .— (See M a p .)— This com p any owns main line
from P om eroy, O ., to W albridge, O ., 250 miles, with trackage (Penn. R R .
System) W albridge to T oled o, 6 miles; branches to Athens, Nelsonvllle,
e tc ., 73 miles; leases W ellston & Jackson B elt, M cArthur June, to Jackson,
18 m .; tota l, 347 m; second track, 47 m. Under the proposed consolidation
with the Kanawha & Michigan (see b elow ), 169 miles will be added to
the system , making a total of 516 miles operated.
H IS T O R Y , &C.— Successor Feb. 25 1899 per plan V . 68, p. 231, of
Columbus H ocking V alley & T oledo R y ., foreclosed. The coal lands, from
which the bulk o f the business Is derived, aggregate about 20,975 acres,
and are covered b y the consolidated m ortgage. In 1899 acquired control
o f T oled o & Ohio Central R y. (which see) b y purchase o f entire Issue of
$8,421,000 Middle States Construction Co. collateral 3s, which are secured
b y deposit o f the entire stock o f the T oledo & Ohio Central R y ., except
$54,100 com m on and $11,600 preferred (See V . 69, p. 1345), but that road
Is operated separately. See STOCK below .
C O N SO L ID A TIO N P L A N .— The plan o f consolidation with the Kana
wha & Michigan R y . In V. 83, p. 271, 323, contem plates the retirem ent
o f the preferred stock and the creation b y the consolidated com pany of a
new general Hen 4% m ortgage providing for refunding at a lower rate of
interest outstanding equipment obligations and floating debt of both com panies. The new m ortgage (authorized issue $30,000,000) will also fur
nish resources for betterm ents and im provem ents, so that the net earnings
o f the consolidated com pany m ay be available for dividends. The old bonds
will not be disturbed at present. Tim e to deposit stocks under the plan
has been extended to O ct. 1 1907.
The general lien 4s will be secured b y m ortgage on all the railroad owned
and all additional property thereafter acquired b y the proceeds. O f the
bonds, $17,000,000 are to be Issued in connection with the consolidation,
the $13,000,000 balance to be reserved to acquire additional property, in
cluding equipm ent, and for Im provem ents and for funding equipment and
other floating obligations assumed.
Held by
-------To B e Given------F o r each $100 share—
P ublic,& c. New Bonds. New Stock.
H ocking V alley R y . preferred--------------$15,000,000
$110
-----Comm on s t o c k ______________________ 11,000,000
____
$100
Kanawha & Michigan R y . stock ________ 4,490,000
____
60
The Kanawha & Michigan in June 1907 authorized an issue o f $2,500,000
2o-year 5 % bonds, to pay the floating d eb t, &c , o f which about half to be
taken b y H ocking V alley. V 84, p . 1247.
P R E F E R R E D S T O C K .— Has preference as to assets and dividends and
is entitled to share equally with com m on In any dividend above 4 % In
a n y year. V . 80, p. 1111.
SA L E OF S TO C K , E TC .— In June 1903 $6,924,200 o f the outstanding
$11,000,000 com m on stock was sold to five railroad com panies, viz.: The
Pittsburgh Cincinnati Chicago & St. Louis (two-sixths Interest) and B alti
more & Ohio, Chesapeake & O hio, Lake Shore & Michigan Southern and
Erie (each one-sixth), the owners receiving $103 per share above all e x
penses
The participation certificates Issued therefor were paid at m atur
ity , June 28 1906, and the Btock distributed am ong the roads. V . 75, p.
1301; V . 77, p. 36, 1225; and form o f cert. V . 77, p. 1874, V . 83, p. 37.
D IV ID E N D S .— On preferred 1900, 3 M % ; 1901 to July 1907 ln cl., 4 %
per annum . On com m on July 1901 to Jan. 1907 lncl., 3% per annum;
July 1907, 2 % .
B O N D S .— The consols ($20,000,000 authorized) besides a lien on the
entire property, subject on ly to $5,426,000 prior bonds, have a first lien on
all the coal lands; $5,426,000 consols are reserved to retire the existing bonds
(these existing bond s, how ever, m ay be extended at m aturity) and $5,645,
000 for the acquisition o f new property and betterm ents, of which $5,263,000
sold in 1899-1906. V . 72, p . 338; V . 74, p. 1038; V . 76, p . 1192; V . 78,
p. 989; V . 82, p. 568. Substantially all o f the bonds and stock o f the
Ohio Land & R y . Co. and the W ellston & Jackson Belt R y ., 18 miles, are
deposited under said m ortgage. V . 68, p . 823. Guarantees Kanawha &
J uly. 1907.]
RA ILW A Y STOCKS AND BONDS.
67
RAILWAY STOCKS AND BONDS.
68
R A IL R O A D S .
For explanation of column headings, & c., see notes
on first page of tables.
H ud ion & Manhattan— Comm on stock (see t e x t )___
Preferred (also as to assets) 5 % n -c 510,000,000 con v
First m ort, 5100,000,000, convert after 5 yrs S c*& r
Huntingdon & Broad Top— Com m on s t o c k _________
Preferred stock 7 % non-cum ulative..... ......................
First M extended in 1890 (interest only in g o ld ). . GP
S econd M old 7s extended In 1895 p & 1 g o ld ____ GP
Third M consol extended In gold in 1895____ GP c*
14th Ser car trust 529,000 yearly D ec 1______ PeP
Car trusts gold due $16,000 or $17,000 semi-annually
Illinois Central— Stock 595,040,000 ________________
Leased line 4 % stock guaranteed (see rem arks)___
First m ort of) Sterling bonds old 6s extend in 1895
1 8 7 4 t o r| Sterling bonds extended in 1905___
515,000,000 4s o f 1886 due 1951 g o ld ____ c*& r
secures a l l 3 ^ 8 o f 1886, due 1951 g o ld ..c * & r
equally _ Us 13s o f 1895 due 1951 g o ld ____ c*& r
J3K S o f 1903 due 1951 g o ld ___c*& r
Trust bonds sterling (sec b y Ch St L & N O c o n s).U s
1st M Sp D iv ref M (V 66, p 1237) g o l d .. U s.xc*& r
Kank & S W 1st M O tto to Norm an June & b r . .
Collateral trust bonds gold 5 ......................_ U s .c* & r
Cairo Bridge bonds gold (see rem arks)___U s.c’ &r
Coll trust 525,000,000 gold on L N O & T __U s.c*& r
W estern lines first m ortgage gold _________Us.c*& r
St Louis D iv & Term M 510,000,000 g o ld . Us.xc* &r
do
55,000,000 (See V 65, p 1173) g ..U s .x c * & r
Louisville D iv & Term M $25,000,000 g ..U s .x c * & r
Chicago St Louis & New Orleans second m ortgage.
IConsol M (518,000,000) gold int gu ar____ c*& r
| do guaranteed principal and Interest______
Memphis D iv 1st M gold guar p & 1 (en d )___Us.c"
Omaha Division 1st M gold $5,000,000___U s.c*& r
Litchfield Division 1st M gold 54,000,000
F.c*
Purchased lines 1st M 520,000,000 g o ld ___Us.c*&r
Underlying St Louis Division & Terminal bonds.
Bellevue & Carondelet 1st M Belle to E C go ld _ _ c'
Bellevue & El D or 1st M (I C owns 5100,000) ..c *
a In addition $5,266,000 consol 5s are pledged to s
H ocking Coal & Coke Co. bonds.
M iles Date
Size, or
Par
Am ount
of
of
Road. Bonds. Value. Outstanding
67
67
67
67
67
___
JZ - - -
1907
____
1854
1857
1865
1899
1907
____
- - - ___
r 1875
i 1875
706 \ 1886
1886
1895
I 1903
___ 1886
i i : 1897
131 1881
857 1888
- - - 1892
798 1892
218 1894
\ 239 f 1897
11897
J
553 1897
567 1877
567 1881
567 1897
100 1889
130 1900
98 1900
734 1904
When
Payable.
A
J
J
O
A
O
D
O
s
J
0
D
J
J
S
O
J
J
A
O
D
N
A
J
J
J
D
15
15
D
A
J
J
17 1883
1,000
470,000
& D
J
6g
51 1880
1.000
71,000
7
J & J
ecure Illinois Central collateral tr ust bond s o f 1886
V . 74. p. 271; V . 77, p. 2393; V . 81.
V . 84, p. 339.
Col. & T ol. first 7s were extended 50 years at 4 % in 1905. V . 81, p. 211.
L A T E S T E A R N IN G S — For 11 m onths ending M ay 31:
Net.
Other in c. Charges.
Balance.
11 M os.—
Gross.
1906-07 .............. $6,232,797
$1,910,056 $365,643 $715,706 $1,550,993
1905-06 ________ 5,907,920
2,074,746
215,354
684,948
1,605,151
A N N U A L R E P O R T .— Traffic is m ostly freight, and over 62% o f this Is
bituminous coal. Average traln-load Is large— in 1906, 608 tons.
R eport for year ending June 30 1906 In V . 83, p. 749, 766.
1905-06.
1904-05.
1903-04.
1902-03.
Gross earnings-................ $6,439,809 56,013,214 55,725,483 56,049,698
Net earnings after taxes- 52,258,035 51,945,313 51,872,863 52,211,172
Other i n c o m e ...................
309,123
382,231
550,901
686,861
52,423,764
$1,018,971
(4)570,200
(3)330,000
52,898,033
$1,093,935
(4)560,000
(3)321,324
B alance, year’s s u r p ..
5753,678
$497,851
$504,593
$922,774
O F F IC E R S .— P res., N . Monsarrat, Columbus; Sec. and T reas., W . N.
C ott, Columbus; Asst. Sec. and Treas., A . H . Gillard, New York.
D IR E C T O R S .— Charles B. A lexander, R . M. Gallaw ay, Thom as F .
R y a n , H. R . W ilson and A . H . Gillard, New York; R alph W . H Ickox,
Charles G. H ick ox and James H. H oy t, Cleveland; P. W . H untington, N.
M onsarrat, S. P. Bush. R . S. W arner and W illiam N. C ott, Colum bus, O .—
(V . 83, p. 818, 1411; V. 84, p. 271, 339, 508, 1247, 1366.)
HOOSAC TUNNEL & W ILM IN GTON R R .— N A R R O W G A U G E .—
H oosac Tunnel, Mass., to Millington, V t., 25 miles. In 1904 purchased
b y syndicate. V . 79, p. 903. Dividends: In 1903, 2 % ; year 1905-06, 3 % .
Earnings for year 1905-06 gross, 577,384; net, 527,995; bond interest,
$11,200; dividends (3 % ), 57,500' Pres., John P. Kellas, Malone, N . Y . —
(V . 79, p. 903.
HOUSTON BELT LINE & TE RM IN A L R Y .— T o build a terminal line
In and around H ouston, T e x ., 20 miles, with large passenger terminals.
Controlled b y four proprietary roads, v iz ., Col. Southern, New Orleans &
Pacific (St. Louis & San F ra n cisco), Trinity & Brazos V alley (Col. South
ern) , St. Louis Brownsville & M exico and Gulf Colorado & Santa Fe (A tchi
son system ). Incorporated A ug. 31 1905 with 525,000 (nominal) stock.
T he stockholders N ov. 7 1906 authorized 55,000,000 first m ortgage bonds;
In June 1907 details had not yet been arranged.— (V . 83, p. 272, 751.)
HOUSTON & BRAZOS V A L L E Y R R .— Owns Anchor to V ela sco, Texas,
20 miles. T o be extended from Anchor about 100 miles, with branch to
H ouston, 20 miles. Successor o f Velasco Brazos & Northern, foreclosed
O ct. 1906. V . 83, p. 1038. Controlled b y B. F. Y o a k u m ,o f St. Louis &
San Francisco R R ., and associates. Incorporated April 1907. S tock,
5120,000. The stockholders on June 19 1907 authorized a m ortgage.
Y ear ending June 30 1906, gross, 533,241; net, 51,294.— (V . 84, p. 931.)
HOUSTON EAST & WEST T E X A S R Y .— (See M a p of Southern P acific.)
Owns from H ouston, Texas, to Sabine R iver at Logansport (on H ouston
& Shreveport R R . ) , 191 miles. Reorganized In 1896 without foreclosure.
S tock 51,920,000, of which 51.918,200 owned b y So. Pac. C o., which has
guaranteed 52,199,000 o f the bonds, principal and Interest, b y endorsem ent,
reserving the right to redeem them at 105 and Interest at any tim e on six
m on th s’ notice. D ividend 16% ? paid in 1902-03 out o f accum ulated sur
plus. G uaranty, V. 70, p. 841; V . 71, p. 236. Year 1905-06, gross,
51,322,418; net, $507,402; charges, $201,488; balance, surplus, $305,914.
— (V 78, p. 2384.)
HOUSTON & TE XA S C EN TRAL R A IL R O A D .— (See M a p of Southern
P a cific.)— Owns from H ouston, Texas, to Denison, Texas, 338 miles; H em p
stead, Texas, to Llano, Texas, via A ustin, 215 miles; Brem ond to Ross
T exas, 54 m .; Garrett to F t. W orth . 53 m .; other, 34 m .; total, 694 m .
Cut off, Mexia to N avasota, 100 miles, was com pleted late In 1906.
H IS T O R Y .— Successor April 11 1893 to a railway corm jany foreclosed
Sept. 8 1888. Reorganization plan, V . 45, p. 792, 820. On A ug. 22 1901
merged Austin & Northwest, etc. Litigation, V . 74. p. 680; V . 81, p. 777.
B O N D S .— The bonds are being gradually reduced with proceeds o f land
sales. The first mortgage was for $8,634,000, o f which $570,000 reserved
against claim o f State o f Texas upon 75 miles o f the road. The Southern
Pacific Co. guarantees interest on all bonds. The first mortgage bonds and
the consolidated mortgage bonds m ay be called for redem ption at 110 with
proceeds o f land sales. See full abstracts o f all the mortgages In V . 52, p.
242. Of the 55,068,000 consolidated 6s authorized 51,149,000 (not In
cluded In the am ount outstanding above) are held as part security for the
general 4s. There were also June 30 1906 5450,000 Lampasas extension
Interim 5s, all owned b y Southern Pacific Co. S tock . 510,000,000, o f which
the Southern Pacific Co. owned 59.998.300: par, 5100. V . 76, p. 1084,
1192, 1407. In 1902-03 a dividend o f 6 % was paid out o f accum ulated sur
plus. V . 76, p . 1407. As to school fund claim for 5673,100, see V . 64,
p . 1137; V . 66. p. 471; V 70. p. 686.
L A N D S -— The lands June 30 1906 held for cancellation o f first and co n
solidated m ortgage bonds consisted o f 947,384 acres; land contracts o u t
standing were 52,437,032. V . 65, p. 869.
E A R N IN G S .— Year 1905-06, gross, 55,751,759; net, 51,908,668; other
Incom e.
charges, 5906,850; b a l., surp., 51,007.305.— (V . 83, p.
1524; V . 84, p. 749.)
HUDSON & MANHATTAN R R .— (See M a p .)— Owns double-tube tunnel
from Sixtn A venue and Christopher Street, New Y ork , under the Hudson
R iv er, to the Delaware Lackawanna & W estern station, H oboken, N J.
Extensions are to be built under Sixth A v e ., New Y ork , to 33d S t., with a
sour unJer 9th St. to 4th A v e. The portion o f the system from 14th
Street f».nd Sixth A venue, New Y ork , to H oboken, is expected to be
ready about O ct. 1 1907. A d ju b le-tu b e tunnel is also under construction
IN T E R E S T OR D IV ID E N D S .
Rate
%
$100 540,000,000
100
5 ,250,000
5 ,£ or fr. 57.000,000
4H g F &
50
1,371,750 See text. J &
50
2,000,000 7 In 1907 J
&
500
416,000
A &
4 g
500
367,500
F &
4 g
1,000
1,497,000
A &
5 g
. 1.000
147,000
4
J &
1,000
484,000
4 H g A Sc
100 95,040,000 7 in 1907 M &
100 10,000,000
4
&
J
£200
2,500,000
A &
4 g
£200
1,000,000
&
3H g J
1,000
1,500,000
J &
4 g
1 000
2,499,000
&
3X g J
£200
£500,000
M &
3 g
1,000 &c
3,000,000
3M g A &
£200
5,266,000
&
3M g J
1,000
2,000,000
&
3J-S g J
1,000
968,000
5
F &
500 &c 15,000,000
A &
4 g
1,000
3,000,000
J
&
4 g
500 &c 25,000,000
M &
4 g
1,000
5,425,000
F &
4 g
500 &c
8,377,000
&
3X g J
1,000
4,998,275
J
&
3 g
500 &c 22,729,000
3J4 g J
&
80,000
6
J
&
1.666 a l l , 289.000
J & D
5g
1,000
1,359,000
3X g J & D
1,000
3,500,000
4 g
J &
1,000 &c
5,000,000
F &
3g
1,000
3,235,000
J &
3g
1,000 14,662,000
3 yi g J
&
V. 81, p. 781; also Continental Coal Co. bonds. V . 75. p. 497, 987
also Sunday Creek Co. (which operates properties) under “ Industrials.’
§.eeIn507;
F eb. 1907 $1,418,000 4 % equipment notes (series A and B) were sold.
Total available Income 52,567,158 52,327,544
F ixed charges, & c______
S883.480.,
5899,693
D ividends on preferred. (4)600,000
(4)600,000
D ividends on c o m m o n .. (3)330,000
(3)330,000
[V ol.
Where Payable, and by
Whom.
lxxxv.
Bonds— Prin ci
pal, When Due.
Stocks— Last
Dividend.
New Y ork
Phil Off, 4th & W alnut St
do
do
do
do
do
do
do
do
Penn Co for In , & c, Phil
P h ila .T r.,S .D .& Ins. Co.
11 B ’w ay, N Y , & Lond
do
do
London
Feb 1 1957
Jan 28, 04. 1 %
July 25 ’07 J K
Sept 30 1920
Feb 1 1925
Mar 31 1925
T o D ec 1 1911
O ct. ’0 7 -0 c t .’21
A u g3 1 ’07 3 H %
July 1907 2 %
April 1 1951
D ec 1 1950
11 B roadw ay, New York Jan 1 1951
do
do
Jan 1 1951
London
Mar 1 1951
New Y ork & London
April 1 1951
Baring Brothers, London July 1 1950
11 B roadw ay. N ewYprk Jan 1 1951
do
do
A ug 1 1921
do
do
April 1 1952
do
do
Dec 1 1950
do
do
N ov 1 1953
do
do
A ug 1 1951
do
do
July 1 1951
do
do
July 1 1951
do
do
July 1 1S53
do
do
D ec 1 1907
do
do
June 15 1951
do
do
June 15 1951
Dec 1 1951
do
do
A ug 1 1951
do
do
Jan 1 1951
do
do
July 1 1952
do
do
po
do
do
do
June 1 1923
July 1 1910
from a connection with the Erie and Pennsylvania R R . stations in Jersey
City under the Hudson R iver to Cortlandt, D ey and Church streets, New
Y ork. A connecting line between the tunnels In New Jersey Is to be built.
Cars will run over Pennsylvania right o f way to Newark; also has agreement
with P ublic Service Corp. for transfer o f passenger?, &c. V . 82, p. 986.
Electric power is to be used, with trains o f the New Y ork subway type.
A consolidation in 1906 with the New York & Jersey R R . and Hoboken
& Manhattan R R . per plan, V . 82, p. 804. Incorporated under the laws
o f New Y ork and New Jersey.
S E C U R IT IE S .— O f the bonds 557,000,000 In connection with 540,000,000 com m on and 55,250,000 pref. stock will be Issued on account of the
proposed tunnels, stations, power house, erection o f buildings at the Church
St. and 23rd St. terminals in New Y o rk , and retirement o f $5,000,000 N. Y .
and Jersey bonds redeem able at 110. The remaining 543,000,000 bonds
and 54,750,000 pref. stock are reserved for future purposes.
The bonds will be convertible on any interest day after Feb. 1 1912 at
par into com m on stock at $110 per share, with provisions to protect the
bondholders when com m on stock, in addition to the $40,000,000 at present
authorized and the further am ount necessary to convert the bonds, is issued.
The preferred stock is convertible after July 1 1911 into com m on stock at
110. V . 82, p. 804; V . 83, p. 1469.
O FF IC E R S — P res.,W . G. M cAdoo; V lce-Pres., F red’ k B. Jennings:
Sec. and Treas., C. W . King. Office, 111 Broadway, N. Y .— (V . 82, p . 804,
1102; V. 83, p. 1098, 1228, 1469; V . 84, p. 51 , 220, 111-3, 1247.)
HUNTINGDON & BROAD TOP MT. R R . & COAL CO.— Owns from
H untingdon, P a ., to Mount Dallas, P a ., 45 miles: branches, 22 miles.
I n A p ril 1907 s o ld 5500,000 4 ^ % ca r trusts, p a y a b le o n e -fifte e n th y e a r ly .
V 84, p . 1424.
D I V ’ D .— ’95. ’ 96. ’97. ’ 98. ’ 99. ’ 00. ’01. ’02. ’03. ’04. ’05. ’06. 1907.
On co m m o n . 4J4 4
1
0
0
0
0
0
5
1
0
0
____
On preferred. 7
7
6
5
5J4 7
5
6
7
6
5H 7J4
k7
A N N U A L R E P O R T .— R eport for 1906 was in V . 84, p. 1420, 1551.
Gross.
Net.
Interest. Dividends. Balance.
1906
5841,349 5312,305 5106,190 5150,000
$56,115
1905
797,467
353,153
106,190
110,000
136,963
— (V 82, p . 100, 452, 986, 1207; V . 84. p . 339, 1424, 1551.)
IB E R IA & VERM ILION R R .— Salt Mine June, to A bbeville, L a .. 18
miles. S tock, $300,000. o f which 5298.500 ow ned b y M organ’s Louisiana &
T e x a s R R . & SS C o. (S o . P a c .) .
B o n d s , 5322,000 first m o r tg a g e 5s, due
A u g . 1943.
Y e a r 1905-06, g r o s s , $73,085; n e t, $21,556; o th e r in c o m e ,
57,872; c h a rg e s , 517,334; b a la n c e , su rp lu s, 512,095.
ID A H O NORTHERN R Y .— V . 83 p. 155.
ILLIN O IS CEN TRAL R R — (See M a p .)— R O A D .— Operates from Chi
cago, 111., southerly to New Orleans, L a ., 912 miles, and westerly to Sioux
C ity, l a ., 509 miles, with numerous branches, v iz. (* which see.)
Road owned in fee.
M iles. | Leased— Control owned.
M iles.
Evansv. Line (Ohio V al. R R ) . . 139
Chicago to Cairo, 111___1
Centralia, 111., to East 1-Main
706 M em ., T en n ., to Grenada, Mlss_ 100
Y azoo & Mississippi Val. R R .,
D ubuque, l a _________ Jstem.
Memphis to N. O. and brs___1,239
......... 730
Dubuaue & Sioux C ity*______
St. Louis A lton & Terre H a u te. 239
Springfield to East St. Louis,
Entire stock owned.
111. (V . 71, p. 5 47 ).....................
98
Swltz City to E ffingham _______
88
Peoria, 111., to Evansville, In d .,
B ra n ch es______________________
773
with 6 m. branch (V . 73,
Leased.
p. 391, 665)................................ 251
Chicago & Texas (Sept. ’9 7 )___
80
To be acquired—
85 Trackage Oliver Br. to T h eb es.
9
Tennessee Central (see b e lo w ). .
Leased.—-Control owned.
T otal system June 30 1 906.-5,698
Chicago St. L. & N. O. R R .
Of which earns, kept separate—
Cairo, 111., to New O rlea n s.. 547
Y azoo & Miss. V ail. R R ______ 1.239
-<Line to Louisville, & c______ 1
(C.O. & S .W . and branch es)/ 614
T otal Included In earnings June 30 1906___ ____________ __________ 4,459
H IS T O R Y , L E A S E S, &c.— Chartered In Dec. 1850. The com pany pays
to the State o f Illinois 7 % (in 1906 51,147,625) of gross o f the 706 m. owned
In fee yearly In lieu of taxes. T he Chicago St. L. & N. O. Is leased for 400
years from July 1 1882 at 4 % per annum on Its $10,000,000 stock deposited
to secure the leased line stock. T ax suit, V . 84, p. 931.
In Sept. 1904 the Indianapolis Southern R y . was purchased. V . 78, p.
2442; V . 79, p. 733, 968; V . 83, p. 1590. In July 1905 an option for 3
years for purchase of m ajority o f stock and bonds o f the Tenn. Central and
Nashville Terminal C o., join tly with the Southern R y ., was obtained, the
111. Cent, on Dec. 1 1905 taking over the operation of the portion from Nash
ville to Hopkinsville, K y ., 85 m. V. 81, p . 1723. Branch from Silver City
to Valley Park, Miss., 45 m ., was com pleted Sept. 1906. In Aug. 1906
extension from Philipp, Miss., to Sardis, 30 m ., was under construction.
An extension from Jackson, T en n ., to Birmingham , A la., 219 miles. Is
expected to be com pleted Sept. 1907, o f which Corinth, Miss., to Haleyville, A la ., 80 m iles, and 3 additional m iles, is under construction; balance
to be trackage. V . 83, p. 896. Also under construction O ct. 1906 W oodstock to East Junction, T en n ., 16 m iles, and B loom ington to B edford, 27
miles. V . 83, r>. 897.
C A P IT A L S T O C K .— The leased line stock Is secured b y deposit o f 510.000,000 Chicago St. Louis & New Orleans stock. (V. 65, p. 1071.)
Early In 1901 the stock was Increased from 560,000,000 to 566,000,000.
in N ov. 1901 to $79,200,000, and in A ug. 1902 was further increased to
$95,040,000, to provide additional equipm ent and facilities. See V . 71,
p. 1066; V . 72, p. 241. 282; V . 73, p. 82, 138, 666; V . 74, p. 1308; V . 75.
p . 77 498.
The Union Pacific In 1906 acquired $28,123,100 o f the stock.
V . 84, p. 51, 102, 570.
D I V I D ’S. I ” 8 7 . ’8 8 .'8 9 . ’ 90. ’ 91-’ 99. ‘00. ’ 01-Sep.’ 04. ’05. ’06.
’0 7 .
Com. stock / 7
7 5J^ 6 5 y ’rly. 5>£
6 yearly.
7
7
B O N D S .— Main line $15,000,000 m tge. o f 1874 covers property described
In V . 63, p. 76. Cairo bridge bonds are secured b y deposit o f a like am ount
o f Chicago St. Louis & New Orleans 1st M. Cairo Bridge 5s. The rental for
the bridge is 5180,000 in gold annually, o f which $20,000 goes to a sinking
jUnd. See a d v. in “ Chronicle” M ay 7 1892.
J u l y . 1907. |
RAILWAY STOCKS AND BONDS.
69
central
Station
!
pARK
£"ne/j
5 f L-
C a " THk
rt» > "
RlE r -R'
:SMIN^LSR
I
> ntg o m ery
'C a na l 1
/
1
-*w »a transit Tunn e t t \Sibway
GOfefiNORS IS.
Station
LIBERTY ISi
11 Station
Station
3 Mileg fro m
Station
GREENWOOD
CEMETERY
^M AP
OF
THE
_ _ _ _ _
HUDSON and MANHATTAN
RAILROAD SYSTEM.
4 M ile s
70
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
Illinois Central R R .— (C oncl.)— S t L S o 1st M g Me.c*
Carbondaie & Shawneetown 1st M g o ld ____ c*
Iow a Falls & Sioux City— See statement of D ubuque
Illinois Iow a & Minn— 1st M $5^000,000 gold red .IC .c*
Illinois Southern— 1st M gold $5,000,000______ EC.c*
Illinois Terminal— 1st M $500,000 gold red par____ IC
Illinois Tunnel Co— See Chicago Subway Co.
Indiana Illinois & Iowa— See Chicago Indiana & So
Indiana Decatur & W estern— See Cln Ind & W estern
Indianapolis & Louisville— See Chicago Indianapolis
Indianapolis South— 1st M red 110 text g . Usm .c*&r
Indianapolis Un— 1st M gold s f not callable ..F P .c *
Gold notes part due yearly guaranteed t e x t ______
Interbor— Metropol Co— Com stock $100,000,000 auth
Pref stock 5 % cm (also pref as to assets) $55,000,000
Ooll tr bonds g sec b y Int R Tr s t o c k ..............c*& r
Coll trust notes $15,000,000 gold call 102_____ Me.c
Interborough Rapid Transit— S tock $35,000,000. ._
Notes $15,000,000 authorized gold redeem at p a r.
N otes $10,000,000 gold red at 101 begin 1909- ..M o
International & Great Northern— First m ortgage gold
_ __ __F.c*
Second m ortgage g o l d __________ _
3d M ($3,000,000) .form erly inc, Incl scrip, g .M e.c*
Colorado Bridge bonds sinking fun d ______________F
Interoceanic Ry of Mexico— Ord shares £1,700,000 .
Preferred shares 7 % cum ulative £1,0 00 ,0 0 0 ___
..
Prior lien deb subj to call at par after Mar 1 1 8 9 7 ..
4 % debenture stock subj to call at par £1,150,000
Debenture stock 7 % “ B ” subj to call 120 non-cum
Second debenture stock red at 105 after 1911 text
Mex E deb stock £450,000 guar red at 105 beg 1914
Iow a Central— C om m on stock $11,000,000 authorized
Preferred stock $7,400,000 5 % non -cum ulatlve___
1st M for $7,650,000 g (abstract V 49, p 582)
Me.c*
R efunding M $25,000,*00 gold (see te x t).M o .c* & r
Jacksonville Term— 1st M goild guar $500,000_M p.c*
Jam estow n Chaut & L E— See Buffalo & Lake Erie
Jefferson— 1st & 2d Ms ext in ’87 & ’ 89 (H ’dale Br) __c
1st M Carbondaie to S depot sold sruar p & 1__FP.c*
Size, or
M iles Date
P ar
Amount
of
of
Road. Bonds. Value. Outstanding
30 18o6
$1,000
17 1887
1,000
& Sio ux Cit y .
125 1904
1,000
132 1903
1,000
T ext, 1905
1,000
& Lou Isville
1903
93 1886
1904
—
Text.
1,109
1,109
1,109
-----
1906
1907
1905
1907
1879
1881
1892
1880
------
1,000
1,000
5,000
100
100
1.000 &c
1.000 &c
100
1,000
500 &c
500 &c
500 &c
1,000
£10
£10
£50 &c
£100
—
503
541
21
T ract
8
37
£100
100
100
1,000
1888
1,000
1901
1.000
1894
Ion Co In "S tre e
1,000
1867
1889
1.000
------
E A R N IN G S .— 11 m o s .,1 1 9 06 -0 7..G ross, $51,727,738; net, $14,896,168
July 1 to M ay 31.
J 1 90 5 -0 6.-G ross, 47,336,016; net, 14,154,747
R E P O R T .— Annual meeting Is held the third W ednesday in O ctober.
R eport for 1905-06 was in V. 83, p. 885, 896; editorial, p. 858. R eport
for 19 years ending May 1906, see V. 82, p. 1240, 1268.
The following does not Include Y a zoo & Mississippi Valley:
Y ear ending June 30—
1906.
1905.
1904.
Miles operated June 30_______________
4,459
4,374
4,374
Passenger earnings.................................$10,004,041 $10,729,825 $9,554,743
Freight earnings...................................... 34,637,124 32,607,922 31,692,575
M ail, express and miscellaneous_____
6,995,240
6,170,902
5,583,838
Total ea rn in g s................... .................$51,636,405 $49,508,649 $46,831,116
Operating expenses__________________ 36,437,470 35,111,706 34,735,682
Net earnings........................................ $15,198,935 $14,396,943 $12,095,454
Net receipts from Interest, & c.............. 3,255,398
2,759,020
2,675,496
Miscellaneous--------------------- ---------------1,591
2,488
41,053
T otalrecelp ts------------------------------ $18,455,924 $17,158,451 $14,812,003
Deductions—
Interest on Illinois Central bon d s____ $3,467,340 $3,431,035 $2,961,615
In t. on Chic. St. L . & N . O. bonds___ 2,431,587
2,415,060
2,415,079
Rental D ubuque & Sioux City R R ___ 1,187,400
571,243
cr. 87,136
N et rental St. L. A . & T . H ................ ..
507,465
507,435
520,209
Miscellaneous.............. ....................................... .............
98,336
136,306
Dividends on Illinois Central s t o c k . . (7)6,652,800 (7)6,652,800 (6)5,702,400
$3,482,542
$3,163,530
Y A Z O O & M ISSISSIPPI V A L L E Y .— Results on 1,211 miles In 1905-06,
1,204 miles in 1904-05. See report at length, V . 83, p. 683, 697. In Jan.
1903, $569,574 paid for back taxes. V . 77, p. 713.
Year—
Gross.
Net.
Other inc. Interest,&c. Bal.,sur.
1905-06 ----------------- $8,671,250 $1,312,268 $1,890 $1,284,541 $29,617
1904-05
.. 8,670,246
1,917,983
2,847
1,265,186 655,644
Balances in 1905 and 1906 were transferred to Insurance fund. N o p a y
ments were m ade In 1904 to 1906 to 111. Cent, as owner o f entire $9,104,000
L ouisv. New Orl. & Texas 2d M. inc. bonds on acct. o f arrears o f Int. ($6,567,843) on July 1 1906; $277,712 paid from earn, o f 1902-03. V . 81, p. 990.
O F F IC E R S .— Pres., James T . Harahan; V .-P . and S ec., A . G. H ackstaff; Treas., E. T . H . Gibson; Gen. M gr., Frank B. Harriman.
General
office, Chicago, 111.
D irectors.— W aither Luttgen, John W . Auchlncloss, J. T . H araban,
Charles M. B each, Cornelius V anderbilt. Stuyvesant Fish, Edward H. Harri
m an. John Jacob A stor, Charles A . P ea b ody, R . W . Goelet, James De W .
C utting, and. e x -o ff^ io . H on. Charles S. Deneen. Governor o f Illinois.—
(V . 83, p. 1170, 1128, 1590; V . 84, p. 51, 102, 220, 570, 931.)
ILLIN O IS IO W A & MINNESOTA R Y .— See Chicago Milwaukee & C ary
R y . and m ap.
IN T E R E S T OR D IV ID E N D S .
Rate
%
i
When
Payable.
Where Payable, and by
Whom.
lxxxv.
Bonds— P rin ci
pal. When Due
Stocks— Last
Dividend.
$538,000
241,000
4 g
4 g
M
M
&
&
R 11 B roadw ay, N Y
do
do
S
2,820,000
4,400.000
450,000
5 g
4 g
5S
M
J
J
&
&
&
S New Y ork or Chicago
Mar 1 1944
I) New York
D ec 1 1953
J Illinois Tr & Sav B k, Chic Jan 2 1925
Sept 1 1931
Mar 1 1932
uthern
IL L IN O IS CEN TRAL R R . (Concluded) —
The trust bonds o f 1886 are secured b y deposit o f $5,266,000 Chicago St. L*
& N . O. consols of ’81, and are to be included in any new m tge.
The collateral trust bonds of 1952 are secured b y pledge with the U . S.
Trust Co. of New Y ork o f $16,350 0(0 5 % 1st m ortgage gold bonds of
subsidiary railroads covering 854 miles. See list, V . 55 p. 550.
The $25,000,000 collateral trust bonds o f 1953 are secured b y pledge of all
the Louisv. N . O. & Texas (now Y a zoo & Mississippi V alley R R . ) , $16,900,000 1st m tge. bonds, except $68,000, all the $9,104,000 m tge. incomes
and all but $96,000 o f the $10,000,000 land grant Incomes. See a d v. In
“ Chronicle” June 11 1892, and V . 54, p. 964; V . 61, p. 112.
The Chicago St. Louis & New Orleans have their interest guaranteed (by
endorsement) until the principal is paid. The 3 34s o f 1897 are gu ar., prin
cipal and Interest, b y endorsem ent— see guaranty V . 65, p. 1071.
The Western Lines loan o f 1894 Is for $10,000,000, but $4,575,000 bonds
can be Issued only when the road from Iow a Falls to Sioux City, 184 miles,
now subject to $2,800,000 o f Iow a Falls & Sioux City bonds (see Dubuque
& S ioux City R R .) due in 1917, shall be transferred to the trustee without
encum brance. See “ Supplem ent” o f Jan. 1899.
The St. Louis D ivision & Terminal bonds are for $15,000,000 authorized,
o f w hich $5,000,000 are three per cents; $3,500,000 were issuable for Im
provem ents, equipm ent, & c., and $1,499,000 are held to retire $1,400,000
underlying bonds still outstanding on the St. Louis A lton & T . H. system;
see table above. See abstract o f m ortgage In V . 66, p. 138. See also V .
66, p. 133; V . 71 p. 546.
Louisville Division & Terminal mtge. Is for $25,000,000; of the bonds
$1,112,000 are reserved to purchase the 46 m . (Cecilia br.) from Louisville
& Nashville and to retire the L. & N . bonds thereon; $2,500,000 for new
additions or extensions. Chicago St. Louis & New Orleans took title to the
Louisv. D iv . and join ed in making m tge. S e e V . 66, p. 136, for abstract; also
“ S up p .” o f Jan .’99. V .6 5, p. 367, 516; V .66, p .133; V .6 7, p.581; V .7 5 , p .671.
Of the $4,000,000 Litchfield Division bonds, $852,000 are reserved for
Im provem ents, &c. V . 71, p. 547, 646; V . 79, p. 2455.
The purchased lines 3J4s o f 1904 ($20,000,000 authorized) cover various
m inor lines acquired. O f the bonds, $14,662,000 have been issued on 734
m . o f subsidiary branch lines purchased, and the remaining $5,338,000 Is
reserved to retire at m aturity $968,000 bonds of the Kankakee & South
western due 1921 (see bond table above) and $4,370,000 bonds o f the Chic.
M ad. & North . (231 m .) , which are pledged for the collateral trust 4s of
1922. (See V . 71, p. 288; V . 79, p. 1273, 1642, 2588; V . 81, p. 1105.)
New President.— In N ov. 1906 the Harriman interests elected a new
President in place o f Stuyvesant Fish. V . 83, p. 1170, 1037, 970; V . 84,
p. 51.
B alance, surplus---------------------------- $4,209,539
[V o l.
J & .1 New Y ork
In I C treas.
5 g
July 1 1953
940,000
May 1 1926
4 i ^ g M & N Fidelity Trust, Phila
330,000
M & S Treasurer, Indianapolis Sept 1907-1910
4 g
93,362,100
45,380.300 See te x t.
July 1 '07 1 X %
Q— T
67.825,000
4J4 g A & O W indsor Trust Co, N Y
April 1 1956
,1
July 1 1910
35,000,000 See text.
Q— T B elm cnt & Co, New Y ork July 1 ’07 2 3* %
15 000,000
M & N
do
do
May 1 1908
4 g
do
do
10,000,000
M & S
Mch 1 1910
5 g
11,291,000
M & N Office, 195 B ’w ay, N Y
N ov 1 1919
6 g
10,391,000
M & S
do
do
5 g
Sept 1 1909
2,966,052
M & s See remarks
4 g
Sept 1 1921
198,000
M & N Office, 195 B ’w ay, N Y
7
May 1 1920
£1,700,000
£1,000,000 See te x t. See text. L ondon
Dec 1906 2%
£400,000
5
J
& J
Mar 31 1912
4
£699,886
M & S 15 L ondon
Sept 15 1950
£469,459 7 fr 5 -6
Sept 15 1950
£1,150,000
4 34 for 1905-1906
£100
1950
4H
£400,000
5
J & D 15 London
Jan 1 1984
8,524,683
5,674,771 1 34 In ’00 M & S Office, 25 Broad S t, N YjM ar 1 ’00 1 % %
7,650,295
J
& 1) Mercantile Trust Co, N Y-June 1 1938
5 g
M & S
5,340,000
do
do
iMar 1 1951
4 g
500,000
J
& J Guaranty Trust Co, N Y July 1 1939
5 g
t R ailw ay” Section.
300,000 434 & 6 J
& J Fidelity Trust C o, Phila July 1 1927
A & o Erie R R , New Y ork
2,800,000)
5 g
Jan 1 1909
ILLIN O IS SOUTHERN R Y .— Owns Salem to Bism arck (including R iver
Transfer. 1 mile) , 122.86 m .; Chester branch, Missouri Jet. to Chester, 10.70
m .; Rosborough branch, Sparta to R osborou gh, 5 m .; total ow ned, 138.56
m .; leases 111. Cent, trackage, Branch Jet. to I. C. J et., 2.75 m .; tota l, 141.31
m. Successor June 1 1900 o f the Centralta & Chester R R ., foreclosed.
V . 70, p. 1048: V . 71, p. 29. S tock, co m ., $4 000,000; 6% cum . p ref.,
$1,000,000; par, $100, all Issued. Of the bonds, $600,000 was reserved
for im provem ents and equipm ent in 1906-08 at not over $200,000 yearly.
V . 79, p. 500. E quip, notes, incl. Int., Jan. 1 1906. $131,614. For 12
m os. end. June 30, gross, $336,556 In 1905-06, against $278,929 In 1904-05,
R E P O R T .— For year ending June 30 1905 In V . 82, p. 158. In 1905-06,
gross, $331,034; net, $111,312; total deductions, $210,180; bal., d ef.,
$98,868. Pres., J. W . W alsh; Sec. and Treas., C. F. W einland: A u d .,
A . F. W illiam s. O ffice, Grand Central Station, Chicago, 111.— (V . 82, p.
158.)
ILLIN OIS TE RM IN A L R R .— Owns terminals at A lton , III., and road,
A lton to H artford, 111., 6 miles; H artford to Edwardsville J e t., 7.1 m .;
leases from W abash R R ., Edwardsville Jet. to Edwardsville, 1.6 m . S tock,
$500,000; par o f shares, $100. O f the bonds, $150,000 are reserved for
future purposes. V . 79, p. 2205. Year ending June 30 1906, gross, $107,361; net, $29,483; interest, rentals ana depreciation, $34,076; b a l., def.
$4 593. Pres., Geo. M. L evis.— (V . 79, p. 2205.)
IN D IA N A ILLIN O IS & IOW A R R .— See Chic. Ind. & Southern R R .
IN D IA N A P O L IS SOUTHERN R Y .— See Sec. A pr. 1906; V . 84. p. 693.
IN D IA N A P O L IS UNION R Y .— Owns 3 miles o f track, .93 o f a mile o f
road, with terminals at Indianapolis, In d ., and leases for 999 years the Belt
R R . o f Indianapolis— 12 34 miles (which see).
F orm ed In 1850 and furnishes terminal facilities to the several railroads
entering Indianapolis. C A P IT A L .— The Cleveland Cincinnati Chicago &
S t. L ouis, the Pittsburgh Cincinnati Chicago & S t. Louis and the Vandalia
R R . are virtual proprietors, they having Invested in it $867,917 to June 30
1906. N o stock outstanding.
The $330,000 4 % notes o f 1904, guar. prln. and Int. b y P itts. CIn. Chic. &
S t. L . and Cleve. CIn. Chic. & St. L ., mature Sept. 1 yearly as follow s, $85,000 in 1907 and 1908 and $80,000 in 1909 and 1910; Comm ercial Trust Co.
o f Philadelphia, trustee. V . 80, p. 871.
E A R N IN G S .— 1905-06, gross, $944,055; net, $168,510; other incom e,
$4,714; total deductions, $91,768; b a l., sur., $81,466.— (V. 83, p. 213.)
INTERBOROU GH -M ETROPOLITAN CO.— O R G A N IZ A T IO N .— In co r
porated on Jan. 24 1906 as an am algam ation (per plan V . 82. p. 217, 280) o f
the Interborough R apid Transit Co. and M etropolitan Street R y . In Oct.
1906 $33,902,800 o f the $35,000,000 stock o f the Interb. R apid Transit Co.
$42,380,300 o f the $52,000,000 M etropolitan St. R y . stock and $29,257,700
o f the $30,000,000 stock o f the M etropolitan Securities C o., Its holding
com pany, had been acquired. V . 82, p. 692. See Interborough Rapid
Transit Co. below and M etropolitan St. R y . In "S tre e t R ailw a y” Section.
L itigation, V . 85, p. 99.
ST O C K .— All the stock is to be Issued except the amounts reserved per
plan for exchange o f stocks not deposited.
The preferred stock has no votin g power except in default o f paym ent o f
dividends thereon or unless the directors so request. V . 82, p. 217. 280.
D IV ID E N D S .— D iv. on p r e f.,l> £ % qua r., paid July 2 1906 to July 1907
Inclusive.
V O T IN G T R U S T .— All the com m on stock Is deposited under a voting
trust agreem ent to M ch. 6 1911, subject to term ination In the discre
tion o f the votin g trustees, v iz ., A ugust B elm ont, W alter G. Oakman,
Thom as F . R ya n , Cornelius Vanderbtlt|and Peter A . B . W idener.
B O N D S .— The collateral trust 4 34s o f 1906 (W indsor Trust C o., N . Y .,
trustee) are to be secured b y pledge o f all the stock o f the Interborough
R ap id Transit Co. or votin g trust certificates therefor as acquired at the rate
o f $1,000 in bonds for $500 Interborough R apid Transit stock, V . 82, p. 280.
In July 1906 made a $500,000 five-year 5% m ortgage covering property in
218th St. V . 83, p. 95.
T he collateral trust 3-year 5 % notes o f 1907 ($15,000,000, authorized
issue) can be issued only pro rata as the collateral m entioned (V . 84, p.
1248) In the deed o f trust, is deposited. Collateral m ay be withdrawn on
deposit o f an am ount o f cash as fixed b y the deed o f trust or additional notes
o f M etropolitan Street R y.
R F P O R T .— Statem ent o f com bined operations o f the Interborotiijh Rapid
Transit and New Y ork C ity R y . system s for year ending March 31 In V 84,
p . 1242. Balance sheet S ept. 30 1906, V . 83, p 1409.
Fiscal Year—
1906-07.
1905-06.
Charors.
Gross earnings_________________ $43,353,841 $40,693,671 Inc. $2,660,170
Operating expenses____________ 21,841,884
21,044,516 In c.
797,368
N et e a rn in g s............................. $21,511,957
Other in com e__________________
1,187,464
T o t a lln c o m e ........................... .$22,699,121
•Interest, rentals and taxes___$17,956,552
Int. ( 4 34% ) on Int.-M et. bonds. 3,150,000
M etrop. St. R y . guar, d lvs..........
666.368
Int.-M et. 5 % pref. d ivid en d . . . 2,273,990
D e fic it......................................... $1,347,489
$19,649,155
1,215,781
In^ $1,862,802
D ec
28,317
$20,864,936 In c.$1,834 ,485
$16,766,926 Inc. $1.189,626
o 2 ,800,000 Inc.
350,000
3,639,888 D ec. 2,973,520
.............. .......Inc. 2.273.990
$2,341,878
D ec.
$994,38#
•Taxes d o not Include M etropolitan special franchise tax In litigation.
a Dividend.
O F F IC E R S .— P res., T . P . Shonts. 115 B roadw ay. N . Y .; V .-P ., J. B.
M cD onald .— (V . 84 p. 1182. 1242, 1248, 1428; V . 85. p. 40. 99.)
INTERBOROUGH R A P ID TR AN SIT C O — (See M a p .)— Incorporated
M ay 6 1902 In New Y ork , to operate the m unicipal tunnel railroad In N . Y.
C ity, extending, with tw o tracks., from Battery to City Hall, and as a fourtrack line from the City Hall (with tw o-track loop at that point) under new
Kim S t., Fourth and Park avenues, to 42d S t., thence under 42d St. and
B roadw ay to 103d St.; also as tw o-track lines, partly viad uct. («) from 103d
S t., on the W est Side, to Klngsbridge Station, (b) from 103d St. to the East
J u l y , L907.]
71
RAILWAY STOCKS AND BONDS.
MINNE^POtH
'raverae City
Hastings'
S tev en s Poii
"'vjWalton V .
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A p p l e t o t f 'c #
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72
RAILWAY STOCKS AND BONDS.
Side and B ronx Park. Extension (two-track) under the East R iver via
F u lton and Flatbush avenues to A tlantic A v ., B rooklyn , there connecting
with the .Long Island R R ., is to be com pleted b y May 1908. T otal about
62 miles o f track on 25 miles o f road (of which 19 K subway and 5 M ele
va ted ). V . 77, p. 827; V . 80, p. 222, 1912; V . 84, p. 1306.
On O ct. 27 1904 the W est Side main line from 145th Street to City Hall,
9 m ., was opened, and on N ov. 23 the East Side line from 145th St. south;
and in July 1905 began operating to the Battery and on the East Side to
W est Farm s. The extension to Kingsbridge (221st Street) was opened
March 12 1906, V . 82, p . 627, 1268.
Leases M anhattan (Elevated) R y . for 999 years from A pr. 1 1903. See
that co . Has agreement with N . Y . C ity Interborough St. R y ., controlled
b y allied Interests, which nrODOses to build various surface roads in B ronx
B orough, o f which 5 m . operated. V . 80, p. 117, 1175, 1479; V . 82, p.
868, 1268. In March 1906 $1,780,000 o f the $2,000,000 Subw ay R ealty
stock was acquired. V . 82, p. 218, 513.
Owns stock o f N . Y . & Queens C ounty R y ., 74 miles, and (join tly with
L ong Island R R .) the N .Y . & L. I. Traction C o., 56 miles.
V . 80, p. 2621;
V . 83, p. 818. Also ow n sN . Y . & Long Island R R ., whose north tunnel from
Manhattan to Long Island C ity is expected to be com pleted In A ug. 1907.
(V . 81, p. 1492; V . 82, p. 751; V. 83, p. 1229; V . 84, p. 1248); Pelham Park
R y . and C ity Island R R . See list o f security holdings, V . 83, p. 155.
C O N T R O L .— In Sept. 1906 $33,902,800 o f the $35,000,000 stock had
been exchanged for 200 % in 4 J4 % collateral trust bonds of the Interborough
M etropolitan C o. (which see a b o v e ), secured b y the stock exchanged.
|V
ol. l x x x v .
E A R N IN G S .— 11 m o s.J 1 9 0 6 -0 7 ____ Gross, $2,897,509; n et, $896,338
July 1 to M ay 31.
\1905-06____Gross,
2,716,522; net,
696,704
A N N U A L R E P O R T .— R eport for 1905-06 was In V . 83, p . 965. Soft
coal tonnage in year 1905-06 was 856,510 (37% o f total tonnage).
1903.
Year ending June 30—
1906.
1905.
1904.
Miles oper. June 30_____
558
558
558
558
$2,405,543
Gross ea rn in g s_________ $2,958,587 $2,588,300 $2,377,105
425,135
N et earnings(over taxes)
774,849
460,218
438,553
560,607
T ot.n et re c’ts(incl.rents)
992,536
661,438
555,968
641,739
554,324
755,094
738,511
Interest, rentals, & c ___
Balance, surplus____ sur.$237,442 def.$77,073 def.$81,132
-(V . 83, p. 626, 965.)
$1,644
JAC K SO N V ILLE TE RM IN A L R Y .— Owns union freight and passenger
depots (the latter opened Feb. 1 1895) and terminal properties at Jackson
ville, F la ., including 20 miles o f track, used b y A tl. Coast Line R R ., Sea
board Air Line and Florida East Coast R y ., which com panies guarantee b y
endorsem ent the prin. and Int. o f above bonds, and own the entire stock.
Georgia Southern & Florida R y . also uses d ep ot. V . 71, p. 135. For year
1905-06, gross, $160,099; net, $17,903; other Incom e, $34,494; ‘ded u ction s,
$34,494.— (V. 71, p. 135.)
JAMESTOW N C H A U T A L Q U A & L A K E ERIE R Y .— See Buffalo &
Lake Erie T raction Co. in “ Street R ailw ay” section.
C O N T R A C T S.— Contract with city calls for the construction o f the road
from C ity Hall north for $35,000,000 and its lease to the com pany for 50
years from com pletion, renewable for another 25 years, the rental to be
equal to the Interest on the city ’s bonds issued for construction (but not for
easem ents, &c.) and a sinking fund o f 1% yearly to retire the bonds. See
provision V . 82, p. 1157. The com pany also at its own expense provided
the electrical equipm ent (costing about $25,000,000; see V . 82, p. 452).
F or con tract see V . 69, p. 1063. The extension from City H all, Manhat
tan , to B rooklyn, Is being built without aid from the city except about
$3,000,000 and leased for 35 years with privilege o f renewal for 25 years.
V . 75, p . 184, 10S6, 1202. See V . 76, p . 101, 1234.
In June 1907 $46,902,000 city bonds had been issued, o f which $44,866,000 are 3 H s , $1,500,000 3s and $536,000 4s.
JEFFERSON R R .— Owns L anesboro, P a ., to C arbondale, P a ., 37 m iles
d ouble track; branch, H aw ley, P a ., to H onesdale, P a ., 8 miles. Leased
lu perpetuity to the Erie R R . Co. fo r $140,000 per annum for main line
and $14,940 for branch. Used b y Delaware & Hudson to reach C arbondale
Stock, $2,095,450- all owned b y Erie R R .
D IV ID E N D .— July 1904, 2 %; Jan. 1905, 3; A p r., 1 H : July, 2; O ct., 2;
1906, J a n ., 2; A p r., 2; J u ly, 2 X ; O ct., 2 -A; 1907, Incl. J u ly, 6M (Q .-J .).
N O T E S .— The 4 % notes of 1905 (W indsor Trust Co. o f N ew Y ork , trus
tee) will be equally secured in the event o f the com p any executing a m ort
gage covering the leashold interest in the M anhattan R y . or the Transit
S ubw ay Construction Co. or N . Y . & Queens Co. R y . stock. V . 80, p. 1912.
T h e $10,000,000 3-year 5 % notes o f 1907, the proceeds o f which will be used
In part for the extension to B rooklyn and to finance the purchase o f Long
Island traction properties, will be equally secured with bonds Issued under
a m ortgage in the event aforesaid or the m ortgaging o f New York & Long
Island Traction or Long Island Electric Co. stock. V . 84, p. 450, 390.
JUNCTION R R . (P hiladelphia).— Owns B elm ont, P a ., to G ray’s Ferry.
Pa. about 3 miles. Leased for 50 years, from March 1 1899 to Phila. B alt.
& W ash.; lessee to p ay fixed charges; keep road In repair and p ay bond
Interest and 6 % on stock; bonds are also endorsed with guaranty o f Penn
sylvania, Phila. W llm . & Balt, and Philadelphia & Reading roads, m ade
prior to lease. S tock, $250,000 (par, $50); now all held b y Phila. Balt. &
W ash, and the P ennsylvania, V . 68, p. 428.— (V . 68, p. 428.)
E A R N IN G S .— For the 9 m onths ending Mar. 31;
9 manths
Gross
N et
Other
Charges <£
ending M ar. 31— Earnings. Earnings. Incom e.
Rental.
1906-07, Man. R y $ 1 0 ,350,082 $6,157,876 $307,233 $4,339,683
1906-07, S u b w a y .. 5,989,069 3,187,153 270,208 1,829,110
1905-06, Man. R y - 9,363,849 5,257,05*2 284,708 4,310,095
1905-06, S u b w a y -- 5,041,578 2,871,238 307,712 1 263,317
Balance
Surplus.
$2,125,426
1,628,251
1,232,605
1,915,633
1906-07, T o t a l.$16,339,151 $9,345,030 $577,440 $6,218,793 $3,703,677
1905-06, T o ta l. 14,405,428 8,129,230 592,420 5,539,411 3,182,239
R E P O R T .— Balance sheet Sept. 30 1906, V . 83, p. 1407.
F or year ending June 30 1906, Including the Subway Division; In 1904-05
th e Subway was operated 8 m os. and 5 -days and in 1903-04 Manhattan
Division only was operated.
1905-06.
1904-05.
1903-04.
Gross earnings..................................$19,695,594
$16,837,370
$14,187,685
Operating expenses______________
8,400,823
7,397,384
5,846,051
Net ea rn in g s................................$11,294,771
Other I n c o m e --______ __________
715,503
Net I n c o m e __________________ $12,010,274
Interest and re n ta ls _____ ______.$ 3 ,5 8 6 ,8 2 3
T a x e s ________________ __________
1,390,560
7 % on M anhattan stock _________ 3,864,000
$9,439,986
491,040
$9,931,026
$2,443,371
1,203,734
3,864,000
Balance for dividends_________$3,168,891
$2,419,921
Dividends ....................................(8*4)2,887,500 (6M )2,362,500
Surplus for y e a r .........................
$281,391
$57,421
$8,341,634
341,504
$8,683,138
$1,822,180
1,071,232
3,864,000
$1,925,726
(2)700,000
$1,225,726
D IR E C T O R S .:—August Belm ont (Chairman), A lfred Skitt, M orton F.
Plant, Andrew Freedm an, James Jourdan, James H. H yd e, W . G. Oakm an,
John Peirce, Geo. W . Young, W m . A . R ead, Cornelius V anderbilt, New
Y ork ; E. P. Bryan, New Jersey; and Gardiner M. Lane, Boston.
Pres., E. P. Bryan; S ec., H . M. Fisher; Treas., D . W . M cW illiam s,
Offices, 13-21 Park R ow Building, and 23 Nassau S t., N ew Y o rk .— (V . 83,
p . 1470; V . 84, p. 390, 450, 570, 1052, 1182, 1307, 1366.)
IN TER N ATIO N AL & GREAT NORTHERN R R .— (See M a p M issouri P a■cific.)— Longview , on T ex. & P ac. (near Shreveport, L a .), southwesterly to
H ouston and Galveston, also to Laredo, T e x ., on Mex. N ational R R ., and
■Spring northerly to F t. W orth; total Jan. 1907 ,1 ,1 5 9 miles, viz.;
Joint trackage—
M iles.
Lines owned—
M iles.
L ongview , T e x ., to L ared o______ 494 Galveston H ouston & H enderson
-Palestine to H ouston, T e x ______ 150
(join tly with M. K . & T . ) _____ 50
Sflneola, C olum bia, & c__________ 121 Other lines_____ __________________ 26
W orth to Spring------------------- 261 H ouston Oak Lawn & Magnolia
Park R y .............. ..................... ...... 10
N avasota to M adlsonville------------47
O R G A N IZ A T IO N .— Reorganized w ithout foreclosure In 1892 under plan
?n V . 54, p. 203, 366. Stock authorized Is $25,000,000; outstanding, $9,755,000; par, $100; controlled in Interest o f Missouri Pacific.
B O N D S .— The second mortgage interest (scaled to
% until and Incl.
Sept 1 1897) Is now 5 %; but In case o f default the rate reverts to 6 % as for
m erly. V . 73, p. 445. In June 1907 obtained authority to expend $100,000 to $150,000 for passenger depot at San A ntonio, repayable In ten equal
semi-annual paym ents, with Interest at 6 % . V . 84, p. 1551. On June 1
1907 car trust notes and bends, $627,659.
E A R N IN G S .— July 1 1906 to June 21 1907, gross, $8,438,270; 1905-06
$6^613,145.
Year__
Gross.
Net.
Oth. Inc. Charges, &c.
Balance.
1905-06
$6,805,433
$865,403
$4,007 *$1,781,696 def.$912,286
1904-05 1 . . . 6,316,309
1,440,987
10,451
1,851 630 def. 400,191
•Includes equip, notes, $37,081; Im p rov., $763,126.— (V. 74, p. 1551.)
INTEROCEANIC R Y . OF M EXICO, L T D — See page 178.
IO W A C EN TRAL R Y .— (See M a p .)— Operates Peoria, III., west to Oskaloosa . I a ., thence northerly to A lbert L ea, M inn., form ing a through line
v i a Minn. & St. Louis R R . from Peoria, 111., to S t. Paul, Minn.
Owns—
M iles. I Leases— (stock, owned.)
M iles.
Iow a J e t., 111., to M anly J et.,
Ia . C. & W ., Belm ond to A lg o n a . 37
Iow a
__________________ 3 6 3 1Track,, Iow a Jet. to Peoria________
3
Branches to B elm ond, & c_______ 127|Manly J et., L a ., to A lbert Lea,
I Minn, (ow ned jo in tly )_________ 28
Total in earnings July 1 1906-------------------------------------------------------------- 558
H IS T O R Y .— Reorganization (by plan In V . 44, p . 653) o f the Central
Iow a sold In foreclosure In 1887-88. In June 1900 Minneapolis & St. Louis
Interests obtained control through purchase o f the com m on stock; the two
properties are operated In close connection. V . 70, p . 1249.
C A P IT A L S T O C K ,— The preferred Is entitled to 5 % (non -cum .), then
com m on to 5, then both share pro rata. V . 62, p. 548.
D IV ID E N D S .— On pref. In 1892, 1 %; 1899, 3; 1900,1 Hr none since.
B O N D S .— The refunding 4s o f 1901 are secured b y a m ortgage on the en
tire property now owned or hereafter acquired, subject to the $7,650,000
first 5s. for which an equal am ount Is reserved. The balance are Issuable
for future extensions at not exceeding $25,000 per mile. Im provem ents and
equlpm ’t. V . 73, p. 899. Loans and bills payable June 30 1906, $1,875,000.
JOLIET & NORTHERN IN D IA N A R R .— Owns Joliet, 111., to Lake
Station, In d ., 45 miles. R oad opened in 1854 and leased to the Michigan
Central Stock ($300,000), all owned b y the Michigan Central, carries divi
dends o f 5% per annum. In July 1907 the Mich. Cent, m ade a new 50-year
first 4 % m ortgage on the road ($3,000,000 authorized issue), under which
$1,500,000 bonds were sold to refund the $800,000 bonds due July 10 1907
and for im provem ents. V . 84, p. 1552.— (V . 76, p . 752; V . 84, p. 1551.)
K A N A W H A & MICHIGAN R Y .— (See M a p Toledo & Ohio Central.)—
Owns Corning, O ., to Gauley on the Ches. & Ohio, 177 miles, less 18 m iles,
Pom eroy to Gallipolis, and 1 m ile, Athens to Arm itage, where H ocking
V al. R y . tracks are used. Also owns branch o f 11 miles leased to T oled o
& Ohio Central and Col. Sandusky & H ocking R y. com panies.
In 1907 consolidation with H ocking Valley R y . pending per plan V .
271, 323. the m inority stock being offered 60% in new stock. V .8 4 , p. 51,
1366. The merger being; tem porarily blocked, the stockholders June 4 1907
authorized $2,500,000 second m ortgage 20-year 5 % bonds to be used m ainly
to p ay off $2,241,000 floating debt. A syndicate was being form ed to pur
chase about $1,250,000 bonds, balance to be taken by Hocking V alley,
which holds greater part o f notes payable. This will m ake possible the
com m encem ent o f dividends, 1% semi-annual being expected to be paid
shortly. V . 84, p. 1182.
H IS T O R Y , & c.— R eorganization In April 1890 o f the Kanawha & Ohio
R y . sold in foreclosure. (V . 50, p. 451, 483 ) In O ct. 1890 a m ajority
In tne stock was acquired by the T ol. & Ohio C ent., which has guaranteed
the bonds, principal and Interest. (See V . 52, p. 165, 351.) Capital stock,
$10,000,000 ($1,000,000 In treasury July 1906). The 1st m tge. bonds are
lim ited on ly to $15,000 per mile o f road constructed. On June 30 1906, In
addition to car trusts shown in table a bov e, there were obligations on con
tract equipm ’t, $291,600; special equlpm ’t and b etterm ’t loan, $1,095,000.
L A T E S T E A R N IN G S .— /1 9 0 6 -0 7 .-G ross, $2,164,348; net, $475,236
11 m os., July 1 to May 31. \1905-06- Gross,
1,960,867; net,
493,075
Surplus over 11 m os. charges, $245,849, against $281,340 sur. In 1005-06.
R E P O R T .— R eport for year 1905-06 was In V . 83, p. 749, show ing,
gross, $2,152,762; net, $595,170; other incom e, $7,781; Interest, taxes, & c.,
$302,203; balance, surplus, $300,748.— (V . 84, p. 1114, 1182, 1366.)
K A N A W H A & WEST V IR G IN IA R R .— T o extend from Charleston, W .
V a ., to Belva on the Gauley R iver, 55 miles, o f which 39 miles com p leted ,
balance under construction. Controlled b y same Interests as Blue Creek
Coal & Land C o., owning 44,000 acres o f coal and tim ber land In Kanawha
County. Stock authorized, $5,000,000; par o f shares, $100. Of the $5,000,000 authorized 1st 5s, (Scranton Trust C o ., tru stee), $1,000,000 have
been Issued, the remainder being lim ited to $25,000 per mile. The first
$1,000,000 o f the issue are guaranteed, prin. and in t., by the Blue Creek
Coal & Land Co. and are subject to 105 and interest after July 1 1908. V .
83, p. 1524; V . 84, p. 339. Pres., Edward S. Jones; V lce-P res., W . A .
MacCorkle; 2d V lce-Pres., Cyrus D. Jones; T reas., Thos. E. Jones; S ec.,
W m . D . B oyer.— (V . 83, p. 1524; V . 84, p. 339.)
KAN SAS C ITY BELT R Y .— From A rgentine to V alley o f Blue R iver, 10
miles. Stock authorized, $2,500,000 (par, $100); outstanding, $550,000
(par, $100); owned one-half b y A tchison Topeka & Santa Fe and threetenths b y Kansas C ity Fort S cott & Memphis and two-tenths by Chicago
Milwaukee & St. Paul. The Chicago R ock Island & Pacific R y. contracted
to use the facilities. V . 78. p. 1446. T o be acquired b y the Kansas City
Term inal R ailw ay C o., incorporated July 11 1906, with $25,000,000
stock , $4,000,000 o f Its bonds to be reserved to pay for the road and retire
the bonds. V. 83, p. 95. For year ending June 30 1906, gross, $424,069;
net, $172,374; other Incom e, $3,648; Interest, taxes, & c., $182,223; balance,
deficit, $6,701.— (V. 78, p. 1446.)
KAN SAS CITY CLINTON & S P R IN G F IE LD R Y .— Owns from Olathe,
K a n ., to Ash G rove, M o., 154 miles; R aym ore Jet. to Pleasant H ill, M o.,
8 m .; A rcadia, K a n ., to Springfield, M o., 85 m . (acquired Sept. 1901 from
K an. City Ft S cott & Mem. R R .); tota l. 247 miles. S tock, $1,775,400.
Bonds were guaranteed b y the Kan. C ity Ft. Scott & M em. R R . (old co .)
Under purchase from K . C. Ft. S. & M ., $2,000,000 6 % bonds o f that co.
were assumed. For year ending June 30 1906, gross, $361,478; net,
$79,510; other Incom e, $47,161; charges, $283,660; balance, deficit,
$156,988.— (V. 73, p. 723.)
KANSAS C ITY FORT SCOTT & MEMPHIS R Y .— (See M aps Rock Island
C o .)— Operates Kansas C ity, M o., to Memphis, T en n ., and branches, 916 m .,
Including trackage 85 m . from A rcadia to Springfield, M o., owned b y K . C.
Clinton & Springfield R y . (which see a b o v e ). Also has a controlling Interest
In stock o f the K . C. Mem. & Blrm. R R ., owning line from Memphis, T en n .,
to Birmingham . A la ., with branch, 285 m ., and o f K an. City & Memphis
R y . & Bridge C o., owning bridge across Mississippi R iver at Memphis,
3 miles. T otal, 1,201 miles.
O R G A N IZ A T IO N .— Incorporated on June 14 1901 and Is vested with
the p roperty o f the form er Kansas City Ft. S. & Mem. Railroad other than
the 85 miles from A rcadia to Springfield, sold to the Kansas City Clinton &
Springfield; also controls other mileage. V . 72, p. 1237. See V. 72, p. 438,
532, 675, 988. The St. Louis & San Francisco R R . owns the entire stock
and leases the road, guaranteeing the bonds o f 1901, principal and interest,
and 4 % on preferred stock trust certificates.
S T O C K .— C om m on authorized, $45,000,000: outstanding, $15,000,000.
all owned b y St. Louis & San Francisco R R . The pref. stock ($15,000,000
authorized, o f which $13,510,000 is outstanding, par $100) Is deposited in
escrow , and against It are issued trust certificates o f the St. L. & San F. R R .,
the latter having the option to retire the certificates at any tim e at par,
and obligating Itself to pay off the whole Issue in 20 years from date (O ct.
1901) and meanwhile to pay quarterly dividends o f 1 % thereon. See
V . 72, p. 1238.
B O N D S .— T he refunding bonds o f 1901 (limited to $60,000,000) are
secured b y all property now ow ned, or hereafter acquired with the p ro
ceeds of the refunding Issue. O f the bonds, $11,650,000 were subscribed for
In June 1901, about $31,025,770 were reserved for exchange against the
face am ount o f underlying bonds, $3,000,000 for refunding purposes, $5,000,000 for Im provem ents betterm ents and new equipm ent at the cum u
lative rate o f $600,000 per annum , and the residue, as well as any bonds
not used or required for refunding purposes, will be reserved for Issue for
additional lines and extensions, at not exceeding $22,500 per mile thereof.
As to gu aran ty,see "organization” abov e. V . 75, p . 853. See V . 8 1 ,p. 559.
J u l y , 1907. J
RAILWAY STOCKS AND BONDS.
73
74
RAILWAY STOCKS AND BONDS.
ENGLEW OOD
. c l i f f s ' (■
[V o l .
lxxxv.
'2 3 0 th ST.
FORT LE
Iffil
u
S IMPI
U N -D E R C L I F F /
EDGE WATE w jjjl
7
/
W
® A N D A LL ''S ^ J
QISLAND M
RIKEB’ 8
GUTTE N BU fiG
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W ARD’S
ISLA N D
/
»»
TunjMI
MAP
°atfery
SOUTH
,
OF
THE
INTERBOROUGH
Navy Yard
RAPID T R A N S IT CO.
S U B W A Y a n d E L E V A T E D S ystem s,
S U B W A Y Shown----------------■■
.
M A N H A TTA N E L E V A T E D ______
J u l y , 1907. j
RAILWAY STOCKS AND BONDS.
75
76
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c ., see notes
on first page of tables.
M iles Date Size, or
P ar
Am ount
of
of
Road. Bonds. Value. Outstanding
lunction (Philadelphia) 1st M guar p & 1 (e x te n d e d )..
2.90
General m ortgage gold cou pon $750.000___ _____
2.90
Kanawha & Coal River— Joint M $750,000 gold S f . .
15
Kanawha & Mich— 1st M $15,000 p m g gu p & l.C e.c*
164
2nd M 52,500,000 auth red p a r. _________
_______
Equipm ent trusts . . . .
_____ ______ _ . _____
Equipm ent bonds due 523,000 sem i-annually.
. .
Kanawha & W Va— 1st M 55,000,000 g t e x t _______ C*
'3 5
_
Car trusts, due 532,000 D ec yea rly _______________ Ba
Kan Cy Belt— 1st ($534,000 guar K C F S & M)_NB c*
10
Kansas City Clinton & Spring—-1st M g g u a r ..N B .c*
102
Pleasant Hill & De Soto first m ortgage gold ____ NB
34
Kan Cy Ft S & Mem R R 1st M gold a ssu m ed ..N B
85
Kansas City Fort Scott & Memphis Ry—
R ef M $60,000,000 gold guar p & 1 en d ._M e.x c*& r
*830
a Underlying Bonds
Kans Cy Ft S & G 1st M land gr s f d r’n at 1 1 0 ..c *
160
_____ ____ _c*
Memphis K & Col first m ortgage
50
Kansas & Missouri R R first m ortgage___________ c*
26
Kansas City F t S cott & Memphis R R kons M .N B .c*
719
Current R ver R R 1st M $20,000 p m gu ar____ NB
82
Kansas Cy & M R y & Bdge 1st M g s f drawn at 110c*
3
F ort S cott Equipm ent Co 1st M call at par______
___
Ozark E quip Co 1st M guar $1,000,000 call at par
Kan Cy Mem & Blrm gen M $4,500,000 cur__OB c*
285
Incom e non-cum ulative________________ __OB.c*
285
285
do stam ped fixed Interest redeem t e x t_________
Blrm Belt 1st M gold red 102H guar p & i e n d ..O B
21
___
E quipm ent notes Series A due $05,000 semi-annually
___
do
Ser B $85,000 due s-a (V 81, p 1 0 4 4 )..B a
___
Kansas City Mexico & Orient— 1st M gold (see text)
7
Kansas City Outer Belt & Electric— 1st M $3,000,000 g
___
Kansas City Southern— Pref stk 4 % n -c 521,000,000___
First m ortgage gold 530 0 0 0 ,0 0 0 ............... Me.c*&r
___
Coll trust notes 55,100,000 gold redeem at p a r____
___
Equipm ent notes gold red par due 572,000 s-an__N
do
ao
gold ser B red par 530.000 semi-ann
...
b Includes 5187,000 held a llv e in sinking funds, y Inclu
• Also covers m ajority o f stock o f Kansas City Memlphls &
1882
1900
1904
1890
1907
1902
1900
1905
1906
1886
1885
1877
51,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500
1,000
5425,000
300,000
750,000
2,409,000
See text.
1,274,046
437,000
1,000,000
160.000
2,500,000
3,192,000
58,000
2,000,000
1901
1,000 &c
19,143,000
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
4K
J
& J
3 14 g A & O
M & S
5 g
A & O
4 g
5
5
M & N
5
F & A15
& J
J
5 g
& D
5
J
6
& J
J
A & O
5 g
A & O
7 g
M & N
6 g
4 g
A
&
Where Payable, and bv
Whom
Broad St Station, Phila
do
do
Bankers’ Trust Co. N Y
Central Trust Co, N Y
Scranton (Pa.) Trust Co.
R . K leybolte & Co. N. Y
Office, 50 State S t, Bost
Old C olony Trust. Boston
do
do
St Louis, Mo
T o ta l________________________________________________________________ 839
A lso owns entire $650,000 each o f stock and bonds o f Arkansas W estern
R y .. W aldron to H eavener, A rk ., 32 miles, operated separately; also con
trols K . C. Shreveport & Gulf Terminal Co. V . 82, p. 332. On Aug. 1 1906
P ort Arthur Canal was transferred to the Governm ent, P ort Arthur being
m ade a port o f entry. V . 83, p. 38, 492.
O R G A N IZ A T IO N .— A reorganization o f Kansas City Pittsburgh & G ulf
R R ., foreclosed In 1900 per plan V . 69, p. 1012, 1062. V . 73, p. 1356;
V . 74, p . 94. As to control, see V . 80, p. 997.
The voting trust having expired April 1 1905, a new m anagement was
elected in May 1905. Extensions are to be built. Including one to New
Orleans. V . 80, p. 1971; V . 81. p. 559; V . 84, p. 1366. Comm on s to c k ,
$30,000,000; par, 5100.
S E C U R IT IE S .— The stockholders on March 19 1906 authorized an Issue
o f $10,000,000 o f 4 H % 20-year Im provem ent bonds, o f which $6,000,000
deposited as collateral for $5,100,000 six-year 5% notes, proceeds to be
used for Improvements and equipm ent. The notes, which were under
written, were offered to stockholders pro rata at 95. See V 82, d . 334,
$32. 692; V . 84, p. 1428. Car trusts, V . 81, p. 1610; V . 83, p. 687.
lxxxy.
Bonds— P rin ci
pal, When Due
Stocks— Last
Dividend.
July
April
Sept
April
1 1907
1 1930
1 1924
1 1990
1927
May 1 1912 ^
Aug 15 ’07-’ 16
July 1 1955
D ec.’0 7 -D e c.’ 11
July 1 1916
Oct 1 1925
Oct
1907
M ay 1 1928
O Mercantile Trust Co. N Y Oct
1879
100 &c
2,056,000
7
J
& D Old Colony Trust, Boston
1884
1,000
492,000
M & S
do
do
7
1882
1,000
390,000
5
F & A
do
do
1888
1,000 yl3,736,000
6
M & N Merc Trust, N Y ; & Bost
1887
1,000
1,606,000
5
A & O Old C olony Trust, Boston
1889
1,000 b3,000,000
A & O Merc Tr Co, N Y ; & Bost
5g
1899
1,000
67,000
6
& J Old Colony T r Co, Boston
J
1900
1,000
430,000
5
M & N
do
do
1894
500 &c
3,323,390
4
M & S
do
do
1894
509 &c
387,280
5
do
do
March
1894
500 &c
5,935,500
5
M & S
do
do
1902
1,000,000
1,000
A & O
4 g
do
do
_
1905
975,000
4M g J
& J Blair & Co, New York
1905
1,000
1,445,000
F & A
do
do
4X
e
1901
1,000
7,800,000
F & A Amer E x Nat B k, N Y
4 g
1903
1,000
2,000,000
A & OIU S M & T . 20 B road.N Y
4 g
....
100 21,000,000 See text See text .S e e t e x t ____ _______
1900 1,000 &c 30,000,000
A & O New Y ork Trust C o, N Y
3 g
1906
5,100,000
& JjN ew Y ork Trust Co, N Y
J
5 g
1905
1,000
1,224,000
43^ g M & N Blair & Co. New Y ork
1906
540.000
& D
4*4 g J
do
do
des 52 ,000", 000 assumed b y K C C 1 & SD.
BIrmi ngham , 2)85 miles, an d provld es for reti rement o f Its bonds.
In 1902 the K . C. F t. S cott & Mem. R y . guaranteed the Interest on all
excep t $387,780 o f the 56,322.780 K . C. M em . & Blrm. Income bonds, be
ginning March 1, the bonds so guaranteed being stam ped with a provision
making them subject to call at any tim e within 10 years from Sept. 1 1902
at 95 and Interest. V . 74, p. 477, 577. E quipm ent notes additional to
those In table abov e, $36,304 fives, due quarterly to O ct. 1 1908.
Birmingham Belt bonds are guaranteed, principal and Interest, jo in tly b y
Kansas City Memphis & Blrm. and St. L . & San Fran. Y . 75. p. 1147.—
(V . 81, p. 1044; V. 82, p. 987, 1438; V . 83, p. 890; V . 84, p. 1551,)
KAN SAS CITY LAWTON & PACIFIC R R .— V . 83, p. 751.
KAN SAS CITY MEXICO & ORIENT R Y .— (See M a p .)— Projected to
extend from Kansas C ity, M o., to T op oloba m p o B ay, M exico, on the Pacific
coast, 1.629 miles; also a cut-off from San A ngelo to Spofford J et.. T e x .,
connecting there with Mexican lines for City o f M exico. In Feb. 1907, 622
miles were in operation, vt2.; W ichita, K a n ., south 200 miles; Sweetwater,
T e x ., east 78 miles; Chihuahua, M ex., east 80 miles; Chihuahua west (incl.
trackage over Chihuahua & Pacific R R .. 125 m iles), 191 miles; T opolobam po
east 76 miles. In addition over 300 miles were graded. B y D ec. 1907 about
1,050 miles are expected to be in operation (of which 275 trackage, including
trackage between Emporia an d Kansas C ity, 114 miles, being replaced by
com p a n y’s own m ilea ge), the latter being part of a continuous line from
Kansas C ity to San Angelo, T e s ., 711 miles. See V . 84, p. 102; V . 75,
p. 1253; V . 81. D. 1550; V . 83, p. 1411; V . 84, p. 508, 1551.
The com pany has its ow n coastwise service from T op oloba m p o and the
H am burg-Am erican SS. Co. has con tracted to establish a trans-Pacific line
as soon as the railroad is com pleted. (V . 77, p. 401.)
Liberal subsidies
have been granted by the Federal and State governm ents in M exico. See
prospectus, V . 75, p. 1253, and V . 83, p. 95, 1411.
The Kansas C ity Outer Belt & E lectric R R . (see that com pany below)
will, when com pleted, afford terminal facilities and an entrance Into K a n
sas C ity. V . 76, p. 331; V . 80, p. 871.
S E C U R IT IE S .— Stock authorized, 520,000 per mile each In com m on and
non-cum ulative 4 % pref. stock; outstanding April 1905, pref., 54,232,400;
c o m ., 52,999,900. Stock Is held in a voting trust until Jan. 1 1917. V .8 3 ,
p . 1411. Bonds (U. S. & Mexican Trust C o., trustee) are Issuable at 522,500
per m ile, single main track, 515,000 per mile o f yard and terminal track,
and 512,000 per mile o f double track, constructed or acquired; also, 52.500,001) for extra work in Sierra Madre Mountains, 55,000,000 for terminal fa
cilities at Kansas C ity or T op olob a m p o,or b oth ,a n d 510,000,000 for future
requirements and additional rolling stock at not over 51,000,000 yearly,
beginning Feb. 1 1906. On com pletion o f road it was estimated there will
be left in the treasury for each mile o f com pleted road 57,500 bonds, 54,000
pref. and 57,500 com m on stock. V . 78, p. 102; V . 81, p. 1411; V . 84, p. 102,
508. In A ug. 1905 made an agreement with St. Louis U nion Trust C o., as
trustee, to secure 52,000,000 car-trust bonds. V . 81, p. 777. M exico &
Orient Townsite Co. bonds, V . 78, p. 1109, 1113.
O F F IC E R S .— Pres., A . E . Stllwell: V .-P ., Enrique C. Creel, W . W
Sylvester, Geo. Crocker and J. S. Bralthwatte; V .-P . and Gen. M gr., E d
ward Dickinson; S ec., Neal S. Doran; Treas., W . A . Rule. A m ong the
directors are George J. Gould, J. T . Odell, Russell Harding, W . C. Procter
and R obert C. C low ry.— (V . 84, p. 102, 508, 693, 1551.)
KAN SAS CITY NORTHW ESTERN R R .— Entire stock, 54,016,000
(par, 5100), and 52,983,500 " B ” bonds were purchased In N ov. 1900 b y
Mo. P ac. R y ., which see; also ■‘ Supplem ent” o f Jan. 1903.
KAN SAS C ITY OUTER BELT (STEAM) & ELECTRIC R R .— This com
pany is constructing a belt line road at Kansas C ity, the main line, double
track, being 7 miles in length, extending from No. Kansas City to the Kaw
V alley on the west, with bridge across the Missouri R iver. Grading to be
com pleted during 1907.
W ill afford an entrance Into Kansas City for the
K an. City Mex. & Orient R y ., and connect with the various steam roads
entering that city. Arrangements are also proposed with certain projected
suburban electric roads. Incorporated in 1902 b y interests friendly to
K an. City Mex. & Orient R y . V . 75, p . 184; V . 76, p. 331; V . 80, p. 871.
S E C U R IT IE S .— Stock authorized, $2,500,000 com . and $2,250,000 4 %
pref. The stock will be held in a voting trust o f ten members until the full
dividend shall have been paid on the pref. for 5 consecutive years. See
V . 76, p. 331. O f the $3,000,000 authorized 1st gold 4s (see table a b o v e ).
$2,000,000 have been sold; the entire cost o f construction and equipment
was estim ated at not over $2,000,000 In bonds, leaving balance for exten
sions and Im provem ents.— (V .7 5, p. 184; V .7 6 , p . 331; V . 80, p, 871, 2399.)
KANSAS C ITY SOUTHERN R Y .— See M a p .— Operates a line extending
from Kansas C ity, M o., to P ort A rthur, T e x ., thence b y Its ship canal, 7
miles, to deep water on the Gulf o f M exico, with branches and extensive
terminals used b y various roads entering Kansas City.
Lines Owned—
M iles.
Lines Oicnea.
M ilct.
Kansas C ity, M o., to Belt J u n e .. 12 Branches to F ort Sm ith, De
Grand V iew , M o., to P ort A rthur,
C u m cy, I-a.. e tc ____________ 51
T e x .................................................. 765 Trackage— T o Grand V iew , M o___11
[V o l.
1 1936
June 1 1908
Sept 1 1910
Aug 1 1922
May 1 1928
Oct 1 1927
Oct 1 1929
July 1 1909
M ay-N ov 1 1910
Mar 1 1934
Mar 1 1934
Mar 1 1934
Oct 1 1922
T o Jan 1 1915
Feb '08-A ug ’ 15
Feb 1 1951
April 1 1953
July 1 1907 4 %
April 1 1950
April 1 1912
N ov ’ 07-N ov ’ 15
D e c ’07-J u n e ’ 16
D IV ID E N D S .— First div. on pref. stock, 4 % , payable July 1 1907 out o f
earnings for fiscal year 1906-07. V . 84, p. 804.
L A T E S T E A R N IN G S .— \1906-07. .G ross, 59,284,882; net, 53,607,420
12 m os., July 1 to June 30. J1 9 0 5 -0 6 ..Gross, 7,752,889; net,
1,934,321
R E P O R T for 1905-06 was In V . 83, p. 1288. Net incom e for 8 mos. ending
Feb. 28 1907 over charges for Interest, car trusts, & c., 51,316,365; esti
m ated net Income remaining 4 mos. o f fiscal year, 5648,647; divs. on pref.
stock (4 % ), 5840,000; b c,l.,su r., 51,125,012. V. 84, p. 804. Official state
m ent as to 10 m onths earnings ending April 30 1907, V. 84, p. 1182.
1905-06.
1903-04.
1903-04.
1902-03.
Gross earnings................. 57,568,332 50,893,656 56,078,215 56,224,477
Operating expenses____
5,532,275
5,088,350
4,710,203
4,519,117
Net earnings................ 52,030,057
51,805,300 51,968,012
T otal net in c o m e ............. 52,004,950
$1,837,801 $1,970,794
Taxes _________________
100,475
153,150
150,254
Interest on bonds, &C-952,714
899,980
899,989
M iscellaneous.............. ..
12,711
49,459
73,528
Deferred renewals______
______ 125,020
____________
$1,705,360
$1,731,452
151,416
899,985
27,681
______
Balance, surplus..........
5933,055
5610,192
5853,023
5652,370
D IR E C T O R S .— Chairman, Hermann Sielcken; Pres., J. A . E d son H . R . D u va l, J. A . Blair, W . T . R osen, D. G. Boissevain. H . Blum enthal,
Andrew J. Miller and Y . Vanden Berg, L. F. Loree o f New Y ork; John J.
Mitchell o f Chicago; S. W . F ordyce and Adolphus Busch o f St. Louis; G. M.
Craig, Port A rthur, T e x .; W . F. H arrlty, Philadelphia, Pa.; Secretary Is
R . Fs. Sperry. O ffice, 25 Broad S t., N . Y .— V . 84, p. 1366, 1428.
KANSAS CITY TE RM IN A L R Y .— T o own a union passenger d ep ot
and terminal at Kansas City, M o., with approaches, to be con trolled
b y ten railroads v iz .: Chic. R . I. & P a c., A tch . T o p . & S. F ., Chic. Mllw& St. Paul, Chic. & A lton , St. Louis & San Francisco, Union Pacific
W abash, Chic. Burl. & Qulncv. Mo. Pacific and Mo. Kansas & Texas
Incorporated July 11 1906. Stock authorized, 550,000,000. The Kansas
C ity Belt R y . will be acquired. O f the bonds to be authorized, 513,000,000
will be used to pay for the land and terminal facilities and to erect the sta
tion , and a further am ount o f 54,000,000 will be reserved to pay for the
K . C. Belt R y . and retire Its bonds. V .8 3 , p. 95. In A ug. 1906 53,000,000
was borrow ed at 4
Interest, guaranteed b y the ten roads, bonds to be
Issued later when conditions favor. V . 83, p. 323. Pres., H. L . H arm on;
S ec., C. C. R ip ley; Treas., E . F. S w lnney.— (V . 84, p. 339, 570.)
KANSAS C ITY VIAD U C T & TE RM IN A L R Y .— (See M a p .)— Owns and
operates an elevated railway and highway viaduct from abou t B luff
and 6th Streets, Kansas C ity, M o., to Minnesota A venue and 4th Street,
Kansas C ity, K a n ., connecting the railroad and m anufacturing districts
o f the tw o cities, with approaches. Length. 1.6 miles, with minimum width
o f 60 feet; material, steel and concrete. Com pleted Feb. 1907. See V . 82.
p. 160; V . 84, p. 271, 931.
S T O C K .— S tock authorized and outstanding, 53,000,000 (par o f shares
5100), o f which a m ajority Is deposited in a voting trust for 3 years from
com pletion o f viaduct or until dividends of 4 % have been paid for 2 co n
secutive years'. V oting trustees: H arvey E . Fisk, John P . R eynolds Jr.
Francis S. E aton.
B O N D S .— Of the bonds ($3,500,000 authorized Issue), $2,600,000 has
been sold for construction. Balance for extensions and im provem ents.
Beginning with 1910 a sinking fund am ounting to 6 % o f gross receipts for
preceding year is to be paid July 1 to retire bonds on satisfactory terms;
otherwise to be Invested.
Pres., Ira G. H edrick; V lce-Pres. and Treas., J. P . R eyn old s J r.; S ec.,
E. E. B a ll.— (V . 82, p. 160; V . 84, p. 271, 931.)
KEN TU CK Y & IN D IA N A B RID G E & R R . CO— Owns steel cantilever
bridge over the Ohio R iver at Louisville and 5 miles o f railroad between
Louisville, K y ., and New A lbany, In d ., and 5 miles o f belt line In Louis
ville; also owns Louisville & New A lbany Ferry Co. Successor Jan. 31 1900
to K en tu cky & Indiana Bridge C o., sold In foreclosure subject to the
51,000,000 first m ortgage. The Southern R y ., Baltimore & Ohio South
western (B . & O.) and Chicago Indianapolis & Louisville own the 575.000
capital stock, and p ay m onthly, In p roportion to cars handled, any deficit In
operations. O f the 52,500,000 first consol. 4s, 51.000,000 were reserved to
retire the old 5s at m aturity and $500,000 for im provem ents and better
m ents. V . 71, p. 492.
E A R N IN G S .— For year ending June 30 1906, gross, $279,896; deficit
under interest charges, & c., $202,848. P res., W . H . M cDoel; Sec. and
T reas., H . W . H eazlltt; Gen. Mgr., W . M. M itchell.— (V . 71, p. 287, 342.)
KE N TU CK Y & OHIO BRID GE CO.— V . 81, p . 1492; V . 82, p. 1379.
KE N TU CK Y & TENNESSEE R Y .— See page 178.
K E O K U K & H AMILTON B RID GE CO.— Owns bridge across Mississippi
R iver at K eokuk, l a ., for railroads sfnd foot passengers. The property was
originally leased to four com panies, but only tw o com panies now use It,
these being the T oledo Peoria & W estern and the W abash. Regarding
guaranty, see V . 59, p. 969. On judgm ent o f 1889 $203,000 has been cole cted; on judgm ent o f 1894, $142,000; In April 1901 $142,000 was awarded.
V . 72, p . 821. Stock, $1,000,000: par, $100. Coupons are In default, but
m ortgage has never been foreclosed, and part o f overdue Interest Is paid as
earnings perm it. Last coupon paid was second half o f N o. 45 (due O ct.
1891) In April 1907.
E A R N IN G S .— Year ending June 30 1906, gross, $60,762; net, $38,834,
other Incom e, $11,954; Interest on bonds, & c., $38,424; balance, surplus,
$12,364. In 1904-05, gross, $55,983; net, $41,394. Pres., Andrew Car
negie: T reas., Theodore Gilman, 55 W illiam S t., N. Y .— (V. 72, p. 821.)
K E O K U K & DES MOINES R Y .— Owns from K eoku k, la ., to Des
Moines, l a ., 162 miles. Leased for 45 years from O ctober 1 1878 to the
C hicago R o ck Island & Pacific R y ., the lessee to p ay 2 5 % o f the gross
earnings, b ut guarantees the Interest (not the principal) on the bonds.
S tock Is $ 1, 52 4, 60 0 8 % preferred and $2 ,6 00 ,4 00 com m on (par, $ 1 0 0 ), a
m ajority o f which Is held b y the lessee.
D IV ID E N D S —
1 ’94. ’95. ’ 9 « '98. ’ 90. ’ 00. ’01 . *02. ’ 03. ’ 04. ’ 05- 06.
N one
K
M 1
1
2 1 H N one.
On preferred, % ___ _ / 95 c. 80c
RAILWAY STOCKS AND BONDS.
J u l y . L907.|
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KANSAS CITY SOUTHERN
RAILWAY.
RAILWAY STOCKS AND BONDS.
78
R A IL R O A D S .
F or explanation of column headings, & c ., see notes
on first page of tables.
M iles Date
Size or
Par
Am ount
of
of
Road. Bonds. Value. Outstanding
Kansas City St Joseph & Council Bluffs— See Chicago Burlin gton &
___ 1897
Kansas City Shrevep & Gulf Terminal— 1st M red 105
___ 1905
Kansas City Viaduct & Term— 1st M g s f (text) S.c* &r
___ 1881
Ken & I Br & RR— Ken & I B lslj M gold assu m ed -.
First consolidated m ortgage $2,500,000 g o ld ..S .c *
1900
Kentucky & Tennessee— 1st M $850,000 gold (see text)
1905
162
Keokuk & Des Moines— Preferred stock 8 % _________
162 1878
First m ortgage Interest guaranteed C R I & P . . c *
Keokuk & Hamilton Bridge— First m ortgage______ c
1869
37 1891
Kewaunee Green Bay & W estern— First m ortga ge.F .c
Kingston & Pembroke— First m ortgage g o ld _________
113 1882
Klondike Mines— First m ortgage $30,000 per m ile ..
12 1905
Knoxville & Ohio— See Southern R y.
Lake Erie & Detroit River— See Pere Marquette R R .
Lake Erie & Western— Comm on stock $20,000 p m__
711
Preferred stock 6 % (not cum) ($20,000 per m lle )..
711
711 1887
First m ortgage ($10,000 per mile) go ld _______ Ce.c*
S econd M for $3,625,000 ($5,000 p m) g o ld ____ Ce.c
711 1891
___ ____
La ke Shore & Michigan Southern—S to c k ____________
___
Guaranteed 10 % stock (Michigan South & Nor Ind)
First m ortgage $50,000,000 g o ld __________ U s.c’ &r 1,000 1897
___ 1903
B onds (not mortgage) $50,000,000 g o ld ___G.c*& r
___ 1906
do
do
$50,000,000 gold ............................... .
_
N otes $15,000,000 g ____________________________ c& r
1907
K alam azoo & W hite Pigeon first m ortgage ass- .O n e
37 1890
B attle Cr & Stur 1st M gold guar p & 1 (see M Cen)
41 1889
Sturgis Goshen & St Louis 1st M gold p & 1 g u a r ..
36 1889
_
Kalam azoo Allegan & Gr Rapids stock rental guar
58
First m ortgage guaranteed_________________ On.c
58 1888
26 ____
Erie & Kalam azoo (leased) stock T oledo to Palmyra
Lake Shore System— Mahoning Coal RR— S t o c k ____
47 ____
Preferred stock (see t e x t )___________________________
47
1st M Youngs to And etc, guar p & ! (en d )____ On.c
47 1884
Lake Sup & lshpem Ry— 1st M $1,200,000 g s f . . F . c
20 1896
Quincy.
$500
1,000
250 &c
1,000
100
100 &c
1.000
1,000
1,000
£6,000
100
100
1,000
1,000
100
100
1,000 &c
1,000 &c
1,000 &c
1,000 &c
1,000
1,000
1,000
100
1,000
50
50
50
1,000
1,000
[V ol.
IN T E R E S T OR D IV ID E N D S .
Rate
%
4
$150,000
2,600,000
4M
1,000,000
5 g
1,069,000
4 g
650.000
6 g
1,524,600 See text.
2,750,000
5
1,000,000
8
408,000
5
572,000
3 g
360,000
6
lxxxy.
When
Payable.
Where Payable, and by
Whom.
Bonds— P rinci
pal When Due.
Stocks— Last
Dividend.
F & A
J & J
M & S
A & O
M & S
See text.
A & 0
A & O
J & D
J
& J
J 30 & D
120 B roadw ay, N Y
Fisk & R obinson, N Y
Louisville
Standard Trust Co, N Y
Central Tr Co, Chicago
Office, 71 B ’w a y , N Y
do
<fo
55 W m St. As earned
Office, 40 W all S t, N Y
45 B roadw ay, New Y ork
Bk Brit N o A m , London
A ug 1 1927
Sept 1 1934
March 1911
April 1 1950
Sept 1908-1923
May 2 '0 4 ,1 J4 %
O ct 1 1923
A pril 1 1899
June 1 1921
Jan 1 1912
Dec 31 1924
11,840 000
11,840 000 See text. J
7,250,000
J
5 g
3,625 000
J
5 g
z49,466,500 12 in ’07 J
533,500
10
F
CO,000,000
3H g J
50,000.000
M
4 g
35,000,000
M
4 g
15,000,000
F
5 g
400,000
5
J
79,000
J
3g
322,000
3 % J
610,000
5.95 A
840,000
5
J
300,000
10
F
1,500,000 12 In ’07 F
661,367
5
J
1,500,000
5
J
240,000
6 s
J
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
J
J
J
J
A
D
S
N
A
J
D
D
O
J
A
A
J
J
J
Office, Gr Cent Sta, N Y July 15’ 07, 1 %
Chase N ational B k, N Y Jan 1 1937
do
do
July 1 1941
Grand Cent S tat’n, N Y July 29 1907 6 %
do
do
f Aug 1907 5 %
June 1 1997
1 Sept 1 1928
I May 1 1931
1 Feb 1 1910
do
do
j Jan 1 1940
Dec 1 1989
Dec 1 1989
A pr 1907
I July 1 1938
Lincoln Nat Bank, N Y A ug 1907 5 %
Grand Cent Station, N Y Feb 1 1907 6 %
A ug 1907 2H %
Union Trust Co. N Y
do
do
July 1 1934
Farmers L & Tr Co, N Y Jan 1 1926
z New Y ork Central holds $45,289,200 o f this.
Rental: In 1905-06, 1904-05 and 1903-04, $137,500
yearly; in 1902-03, $156,574.— (V . 6 8 , p. 772.)
(bond Interest)
K LO N D IK E MINES R Y .— Dawson C ity to Sulphur Springs, 31 M miles,
com pleted Jan. 1907; p rojected from Sulphur Springs to the Stewart R iver,
60 miles. Stock authorized, $2,500,000; outstanding, $943,000. The D aw
son Grand Forks & Stewart R iver R y . C orp ., L td ., owns all the stock and
bonds. V . 82, p. 509. Bonds, see table above. V. 81, p. 725. Pres.,
J. A . Seybold
S ec., Andrew H aydon, 19 Elgin S t., O ttaw a, Can.—
(V . 81, p. 725; V . 82, p. 509.)
KONA & KAU R Y ., H A W A II.— V . 75, p. 289; V . 76, p. 542.
L A K E ERIE & PITTSBURGH R Y — V. 83, p. 1037.
LA K E ERIE & W ESTERN R R .— R O A D .— Owns Sandusky. O ., to
Peoria. 111., 413 miles; branch to Minster, 10 miles; branch, Indianapolis to
Michigan C ity, 159 miles; F ort W ayne to Connersvllle and branch to Ru§hvllle, 129 miles; total ow ned, 711 miles; leases Northern Ohio R R ., Akron
to D elphos, 162 miles; trackage, 13 miles; total operated, 886 miles.
H IS T O R Y , E T C .— Form ed In 1887 after foreclosure o f the Lake Erie &
W estern Railway. (See V . 50. p . 590.)
In 1899, control passed to the
Vanderbilts, and on Jan. 1 1907 the Lake Shore & Michigan Southern
owned $5,940,000 com m on and $5,930,009. preferred stock. V . 71. p. 1269.
D IV ID E N D S — j '91. ’92. ’ 93-'98. '99. '00. ’01-’03. ’04. ’05. ’06. 1907
2 4 yearly 3
3
On p re fe rr e d _____ J 4 4 H 5 yearly 0
B O N D S .- -A b stra ct o f first m ortgage In V . 46, p. 45; o f second m ortgage
In V . 54, p. 444. Guarantees $2,500,000 5s Northern Ohio, which see.
E A R N IN G S .— For 5 m onths ending M ay 31, gross $2,009,642, against
$2,122,918 in 1906.
A N N U A L R E P O R T .— Annual report for 1906 was in V . 84, p. 927.
Year ending Dec. 31—
1906.
1905
1904.
Gross earnings_______________________ $5,212,812 $5,037 295 $4,998,010
N et (including other Incom e)________ 1,451,318
1,450, 454
1,349,675
263,066
257, 5 22
D educt— t a x e s ______________________
213,913
Interest on bon d s_________________
543,750
543 750
543,750
N orthern O tto interest guaranteed
125,000
125, 000
125,000
R entals and m iscellaneous_________
69,341
80 530
56,465
D ividends on preferred s tock _____ (3 % )355,200(3 %)355 200(3 % )3 55 ,200
A dditions and betterm ents________
87,092
70, 139
44,658
B alance, surplus___________________
$7,868
$18,313
— (V . 82, p . 802, 1438; V . 83, p 1408; V . 84, p. 927 )
$11,289
LA K E SHORE & MICHIGAN SOUTHERN R Y .— (See M aps New York
Central.)— Operates from Buffalo to Chicago with branches. The main line
(540 miles) Includes 26 miles between T oledo and Palmyra, M ich., under
lease from the Erie & K alam azoo (535 miles has double track).
Road owned directly.
M iles.
Leased ('s ee this Co.)
M iles.
B uffalo. N. Y ., to Chicago, 111..540 Kalam azoo A & G. R _________
58
Sundry b ra n ch es________________ 339 Jamestown & Franklin________
51
Entire stock owned.
Mahoning Coal R R ____________
72
D etroit & C hicago_______________ 26
Erie & K alam azoo (26 m ile s )..T e x t .
D etroit Monroe & T ole d o________55
Detroit Hillsdale & S W ______
*65
K alam azoo & W hite Pigeon_____ 37
Fort W ayne & Jackson________ *98
N orthern Central M ichigan______ 61
D etroit T oledo & Milwaukee___
66
Sturgis G & St. L ouis____________ 29
Battle Creek & Sturgis_________
7
Central T ru nk____________________ 5
Elkhart & W estern______________ 11
Grand total oper. Jan. 1 ’0 7 . 1,520
O f which ow n ed ________1,103
B y control o f “ Nickel P late” the Lake Shore has still another line from
Buffalo to Chicago. Operates Dunkirk Allegheny Valley & Pittsburgh,
Dunkirk, N. Y ., to Titusville, P a., 91 miles, since Oct. 1 1901 for account
o f New Y ork Central. (V . 73, p . 663.)
Leases portion of Detroit T oledo &
Milwaukee R R ., extending from Dundee to Hom er, M ich., 6 6 ]A miles.
V . 74, p. 379: V . 76. p. 1026; V . 82, p. 749.
Owns $17,000,000 stock o f the Chicago Indiana & Southern R R ., which
see. V . 84, p. 753, 754. Branch from Franklin, P a ., to B rookville, 55
m iles, was under construction in July 1907 and 9 miles o f track laid.
O R G A N IZ A T IO N , & c.— A consolidation on Aug. 16 1869. In 1898-99
$45,289,200 o f the capital stock was purchased b y the N .Y .C . & H . R . R R . ,
which gave In exchange Its 3 ^ % bonds at the rate o f $200 in bonds for $100
In stock. V . 66, p. 288; V . 69, p. 1237.
N ew Y ork Chicago & St. Louis road has been controlled by ownership o f
Stock since 1882, Lake Shore now owning $6,240,000 o f Its com m on.
$6,275,000 of Its second preferred and $2,503,000 o f Its first preferred stock.
T he com pany also controls and leases the Mahoning Coal R R . (gee Lake
Shore ■’ System ' below) and owns (besides entire stock o f proprietary lines)
$5,000,100 Pittsburgh & Lake Erie stock; $23,148,100 o f the $40,000,000
Cleve. Cln. Chic. & St. Louis com m on stock- also $5,940,000 o f the $11,840.000 com m on and $5,930,000 o f the $11,840 000 Lake Erie & W estern
preferred. V . 71 p. 1269; V . 72. p 870- V. 82 p. 749.)
In 1901 purchased from surplus earnings $3,200,000 Lehigh V alley R R .
Stock for $1,920,000; total Lehigh stock ow ned, $5,700,000. V . 74, p . 879.
A lso owns one-half o f the $60,665,000 Reading Co. stock acquired by the
P ennsylvanla-Vanderbilt interests, v iz ., $6,065,000 first preferred, $14,265.000 second preferred and $10,002,500 com m on stock, the other half
being held by the Baltim ore & Ohio. V . 80, p. 1856. As to purchase of
one-sixth Interest in m ajority H ocking V alley R y. com m on stock, see that
com p a n y. V . 76, p.*102, 158; V . 77, p. 451; V . 83, p. 37.
List o f stocks of com panies owned Dec. 31 1906, V . 84, p. 754. See also
V . 78, p. 48. 1904; V . 80, p. 1852; V . 82, p. 749.
D IV ID ’S .— \’92. ’93-97. ’98. ’ 99. ’00. ’01. ’02. ’03. '04. ’05. '06. 1907.
Slnce’9 1 , p .c.J 6 H 6 y ’rly. 6 ^ 7 7 7 7 7 8 8
8
12
For $50,000,000 m ortgage o f 1907, see abstract in V . 64, p. 1182, and V .
66, p. 1140; V . 68, p. 1182; V . 73, p. 1264; V . 75, p. 290; V . 77, p. 2035.
O f the $50,000,000 authorized debenture 4s o f 1903, $40,000,000 were
sold to pay off the $25,000,000 loan m ade for the purchase o f Reading
stock, which matured Jan. 1904. and floating debt Incurred for other a cqui
sitions; balance sold In 1905. T hey are to be secured b y any new m ort
gage. V . 77, p. 1747, 2035; V . 78, p. 48; V . 80, p. 1912.
In Feb. 1906 $35,000,000 of 25-year 4 % bonds o f a new Issue o f $50,000,000 were sold for Im provem ents. V . 82, p. 392; V . 84, p. 996.
G U A R A N T IE S .— As to guaranties additional to those shown In table
a bove see Detroit Hillsdale & S. W . and Fort W ayne & Jackson.
G E N E R A L F IN A N C E S .— N othing has been charged to construction or
equip, a cct since 1883, the outlays charged to operating expenses for new
equip, acct. am ounting in 1906 to $1,201,877 and in 1905 to $3,360,773,
and for construction to $4,221,846 In 1906, against $3,743,020, these items
being exclusive o f expenditures for renewals. Profit and loss surplus Jan. 1
1907, $17,298,529. In Jan. 1907 dividend rate was raised from 8 to 1 2 % .
In Jan. 1907 $15,000,000 three-year 5 % notes were sold. V . 84, p. 271.
E A R N IN G S .— For 6 m onths ending June 30, gross, $21,589,536 in 1907,
against $20,607,097 in 1906.
F or 3 m onths ending March 31:
3 months—
Gross.
Net.
Other income. Charges.
B a l., stir.
1907 _______ $10,429,137 $2,709,773 $975,000 $2,066,667 $1,618,106
1906
10,023,252
2,100,683
825,000
1,650,000
1,275,683
A N N U A L 'R E P O R T for 1906 at length was in V . 84, p. 744, 753.
Y ia r ending Dec. 31—
1906.
1905.
1904.
Total gross earnings_________________ $42,544,378 $38,600,810 $35,161,053
Operating expenses.................................. 32,675,801 31,331,510 27,184,280
Net earnings______________________ $9,868,577
$7,269,300 $7,976,772
N et, including other Incom e_________ $14,022,082 $10,787,963 $10,547,742
R entals p a id ..... .......................................
1,450,186
1,305,613
1,068,797
3,911,037
3,917,852
Interest on d e b t..... ................... ............. 4,593,294
T a x e s ________________________________ 1,438,640
1,050,000
1,050,000
Dividends on guaranteed stock ______
53,350
53,350
53,350
Dividends on com m on stock ______ (10)4,946,650 (8)3,957,320 (8)3,957,320
Surplus over’ dividends____________ $1,539,962
$510,645
$500,422
— (V. 83, p. 1524: V . 84, p 271. 744, 753, 996, 1182.)
L AKE SHORE SYSTEM .— MAHONING COAL R R .— Owns from
Youngstow n to A ndover, O ., and branches, 72 miles. Branch (prac
tically second track) from Doughton to P lym outh, on the Lake Shore, 43
miles, included a b o v e .o f which, 18 miles, built b y Lake Shore, was com pleted
in 1903. Leased in perpetuity for 4 0 % o f gross earnings to Lake Shore,
which Jan. 1 1907 owned $865,900 com m on and $399,500 preferred stock.
D IV ID E N D S .— I ’99.
90. ’91. ’ 92. ’ 93. ’ 94. ’ 95 to A u g .’06. ’ 07.
On com m on.
J4H
5
4 )^ 8 * ^
8
8
10 yearly.
12
The preferred stock certificates are 5 % guaranteed and contain a clause
m aking them redeem able at par at option o f com pany.
Year ending Dec. 31 1906, rental and other Incom e, $1,063,434; surplus
over interest and 11 % on com . and 5 % on pref., $789,644.— (V . 83, p .1524)
L A K E SU PERIOR SOUTHERN R Y .— Projected from Huron B ay,
Barago C o., M ich., southwesterly to M adison, W Is., about 200 miles.
S tock, authorized, $12,000,000: outstanding Jan. 1907, $1,000,000. The
bonds ($12,000,000 authorized issue) are subject to call at 103 on and after
Jan. 1 1917. Of the bonds, $600,000 were issuable at once for rights of
way and the old grade from Huron Bay to Champion, M ich., 35 miles, and
rem ainder as follows: $3,500 per m ile o f right o f w ay, $1,500 per mile of
constructed road for general purposes and $30,000 per m ile for construc
tion , equipm ent, &c. V. 83, p. 1228. President, M. C. Phillips, Oshkosh,
W is.; Secretary and Treasurer, W . K . R id e o u t.— (V . 83, p. 1228.)
L AKE SU PERIOR TE RM IN A L & TRAN SFER CO.— Owns 16 miles of
track used for transferring cars between the depots and tracks at W est
Superior. W is., of the proprietary com panies, v iz ., Northern Pacific, Chic.
St. Paul Minn. & Omaha and Duluth S .uth Shore & A tlantic, which own
the $119,400 stock ($1,200,000 authorized). Bonds, Ree table abov e.
D . M. P hilbin, Pres., W est Superior, W is.— (V . 82, p. 161.)
LA K E TAHOE R Y. & TRAN SPORTATIO N CO.— See Sect A p r. ’06.
LANCASTER OXFORD & SOUTHERN R R .— See page 178.
LANSING M AN U FACTU RERS’ R R .— See V . 81, p. 1375; V . 82, p. 692.
LA RA M IE H AH N ’ S PE A K & PACIFIC R Y.— Owns from Laram ie, W y o .
to Centennial, 30 miles, opened J u ly 1907; extension proposed from Cen
tennial to Grand E ncam pm ent, being balance of 100 miles. Stock au
thorized. $9,000,000 com m on , practically all Issued; pref. 6 % non -cum .,
$1,000,000 auth.; par a f shares, $10. (See V . 77, p. 824.)
Bonds being
issued at $8,000 per mile on com pletion o f 5-mile sections. In April 1906
sale o f entire $800,000 bond Issue was reported. V . 79, p. 968, 2205; V . 82,
p. 805. Pres . Fred A . Miller. Laram ie, W y o .— (V. 82, p. 805.)
LEAVENW ORTH TE RM IN A L R A IL W A Y & B R ID G E .— Owns highway
and railroad bridge (opened Jan. 1 1894), 1.110 ft. long, over Missouri River
at Leavenworth, K an., and valuable terminal property In that city. The
m tge. contains a s. f. provision. Kansas City St. Joseph & C. B. (Chicago
B. & Q.) and Chic. R . I. & p . use the bridge at an annual rental of $16,000
each, under a 30-year contract from 1894, and Chic. Gt. W estern from S ept.
1 1895, for 30 yrs.; rental $14,250. For year 1905-06, gross, $52,198; net
$32,748; Int , $30,000; b a l., su r.. $2,747. S tock, $600,000 — (V. 69. p. 494.)
LEHIGH & HUDSON R IV E R R Y .— Owns from Grey court, on Erie R R .
to B elvldere, N. J ., on the Pennsylvania R R ., 63 miles. Proprietary lines
Orange County R R (entire stock owned— no bonds issued), Hudson Jet. to
M aybrook, N. Y ., on Cent. N. E. R y. (Poughkeepsie B ridge), incl. track
age. a total o f 13 m .; S. E. & P. R R ., Phlllipsburg to E aston, 1 m .; track
age, Penn. R R ., Belvldere to Phlllipsburg, 13 m .; D. L. & W . trackage,
A ndover Jet. to Port Morris, N. J ., 8 m .; total oper., 98 miles. V. 79, p.
269. S tock, $1,340,000; par, $100. Dividend prospects, V. 83, p. 1588.
B ON DS.— O f the $1,320,000 gen. mta-e. bonds o u t, $1,062,000 are guar,
jo in tly p. and i . , b y the Central R R . o f N. J. and Leh. Coal & N av. Co. An
O
•nos
79
RAILWAY STOCKS AND BONDS.
J u l y , 1907.j
[V o l.
RAILWAY STOCKS AND BONDS.
80
R A IL R O A D S .
F o r explanation of column headings, & c., see notes
on first page of tables.
Lake Superior So—-1st M $12,000,000 g red t e x t ------ K
Lake Superior Term & Transfer— 1st M $500,000-----L Tahoe Ry & Tr Co— 1st M g $500,000 s f beg 1905
Lancaster Oxford & Southern— 1st M $200,000 g o l d ..
Lansing; Manufacturers— 1st M serial Interest r e n ta l..
Laramie H P & Pac— 1st M $800-000 g o ld ------ AB.c*
Leavenworth Terminal Ry & Bridge— 1st M g o ld -.C e
Lehigh & Hudson River— 1st M gold int red to 5 % -C e
Second m ortgage g o ld . _______ - . _______________
W arw ick Valley first m ortgage extended in 1 9 0 0 ..
Second m ortgage_____ ____
. ------------—
Leh & H ud R iv gen M $3,000,000 g (see te x t).C e .c*
E quip trust certs gold due $40,000 y e a r ly ..P e P .c
Lehigh & New England— 1st M $1,000,000 g o ld -.F P
N ortham pton 1st M g $300,000 guar red 105.FP.C*
Lehigh & Delaware 1st gen M redeem at 1 0 5 ............
Consolidated m ortgage $3,000,000 gold call at 1 0 5 -Lehigh Valley— C om m on s tock .
-_ _____ GP
Preferred stock 1 0% (V 79, p 151, 269)--------------GP
First m ortgage extended in gold in 1898-----GP.c& r
S econd m ortgage .
_ . . . .
_ - -------- ---------r
Consolldat Ml cou pon & reg $4,762,000 4 ^ s — c&r
$40,000,000jannuity $2,538,000 are 4J^s____FP
General consol M $150,000,000 gold ____ GP.c*&r__
Collateral trust bonds $19,000,000 see te x t .G P c*& r
Lehigh & N Y 1st M gold guar p & i ______ M p.c*&r
Leh Val o f N Y 1st M gold guar p & 1 (end) _ GP.c*& r
Lehigh Val Term 1st M gold guar p & i end .C e.c* &r
Easton & A m b oy 1st M Easton to Perth A m b oy guar
E aston & N or 1st M gold guar b y Leh V a l.G P .c*& r
M iddlesex V alley 1st M $600,000 gold
_Ce.c*
Penn & N Y C an& R R — C on sgu (text) p & i (en d ).G P .r
Elm ira Cortland & Nor 1st pref M g o ld ----------Ce.c*
First m ortgage gold guaranteed p & i (en d ). .’ .C e
Morris Canal stock 4 % guaranteed 999 years---------Preferred stock 10 % guaranteed 999 years______
IN T E R E S T OR D IV ID E N D S .
M iles Date
of
of
Road. Bonds.
1906
” 16
28
5
“ 3
42
63
15
22
63
___
15
All
___
101
101
1
4 6 lt
117
283
31
60
12
22
_
119
119
-----
1901
1905
1905
1904
1893
1881
1887
1879
1881
1890
1906
1895
1902
1904
1903
____
1868
1870
1873
1873
1903
1905
1895
1890
1891
1880
1895
1892
1888
1884
1884
____
------
Size, or
Amount
P ar
Value. Outstanding
Where Payable, and by
Whom.
When
Payable.
&
J
$1,000 See te x t.
5g
_
A &
$195,000
6
A &
1,000
300,000
5 g
A &
200,000
100 &c
5g
&
75,000
J
5g
&
J
1,000
120,000
6g
&
600,000
J
1,000
5 g
&
800,000
1,000
J
5 g
&
164,000
1,000
J
5 g
A &
145.000
500 &c
4K
240.000
A &
6
500 &c
1,320,000
1 000
J &
5 g
360,000
1,000
4
g J &
1,000,000
&
J
1.000
5g
300,000
&
1,000
J
5g
750,000
5
&
1,000
J
A &
1,380,000
1,000
5 g
50 40,334,800 6 In 1907 ;J &
&
50
106,300
10
J
5,000,000
&
1,000
J
4 g
6,000,000
M &
1,000
7
&6 J
&
1,000 10,400,000
&6 J
&
1,000 12,600,000
M &
1,000 &c 24,100,000
4 g
F &
1,000 18,500,000
4 g
M &
2,000,000
1,000
4 g
1,000 15,000,000
4M g J &
A &
1,000 10,000,000
5 g
6,000,000
M &
5
1,000
51,000
500 &c
4H g M &
1,000
211,000
M &
5 g
8,500,000 4 4 ^ , 5 A &
1,000
750,000
A &
1,000
6 g
1,250,000
A &
1,000
5 g
706,700
4
F &
100
903,600
10
F &
100
additional $1,535,000 are reserved to take up prior liens and $134,000 for
extensions or acquisitions o f connecting roads. See form of guaranty,
& c., in V . 67, p. 788. Equipm ent 5s June 30 1906, $70,000. E quip
m ent trust 4 H s , V . 83, p. 96.
E A R N IN G S .— 9 m o s .,1, 1906-07________ Gross, $559,346; net, $209,510
July 1 to March 31. j 1905-06_________Gross, 462,856; net, 170,543
Surplus over charges, $80,925, against $61,738 in 1905-06.
A N N U A L R E P O R T .— Incl. Orange C ounty R R ., V . 83, p. 1588.
Year end. June 30. Gross.
Net.
In t., tax, &c.
B al.,sur.
1 9 0 5 -6 __________ __ $662,386
$255,241
$182,750
$72,491
1 9 0 4 -5 ______________ 481,772
166,523
145,027
21,496
Lewis A . R iley, Pres., Philadelphia, Pa. New directors, D ec. 1904,
V . 79; p. 2642.— (V . 81, p . 1791; V . 82, p. 449; V . 83, p. 96, 1588.)
LEHIGH & NEW ENGLAN D R R .— Operates road from Slatington, P a .,
t o Cam pbell H all, N. Y ., 95 m ., Bethlehem to Bangor, P a ., 31 m .; Bath to
M artin’s Creek, P a ., 20 m .; branches, 32 m .; tota l, 178 m ., o f which tw o sec
tions, aggregating 35 m ., are trackage, leaving 143 m . owned. V . 79, p.
2642.
In Jan. 1904 Lehigh Coal & N avigation Co. acquired control.
V . 78. p. 229, 1781 1962.
S E C U R IT IE S .—-Stock, $1,000,000; par, $50. Of the consols o f 1903
($3,000,000) $1,300,000 is issuable to retire underlying bon d s, the remainder
for extensions and im provem ents; trustee. Provident Loan & Trust C o.,
o f Philadelphia. V . 77, p . 951
E A R N IN G S .— For year ending June 30,1906 (132 m iles), gross, $565,109;
net, $205,673; charges, $185,991; balance, surplus, $19,682. Pres., W .
Jay Turner; V .-P ., Lewis A . R iley; Sec. and Treas., H . F . B aker.— (V . 78,
p. 1962; V . 79, p. 2642.)
LEHIGH V A L L E Y R R .— (.See M a p .)— Jersey C ity, N . J ., opposite N. Y .
C ity , to Buffalo, N. Y ., 450 miles, with branches, v iz.; (*See these c o s .).
Lehigh & N . Y ., P a. State line
F ee or Entire Stock Ownedto N o. Fair H aven, N. Y ___
115
M iles.
70
B uffalo, N . Y ., to Sayre, P a ___ 181 O t h e r __________________________
Leased—
W ilkesbarre, P a ., to Jersey
C i t y - . . ........................................ 174 State Line & Sullivan_________ _ •24
4
Elm ira Cortland & N or* ______ 139 O t h e r __________________________
49
B ra n ch e s _________ _________ ,___ 549 Trackage to Susp. Bridge, & c._
P a. & N. Y ., W ilkesbarre to Pa.
T otal June 30 1906...................1,445
State line (with 43 miles
577
branches) __________________
140 Second tra ck __________________
H IS T O R Y , &c.— In 1901 the Erie, Lackawanna, Central o f New Jersey,
Reading and Vanderbilt Interests entered the directory. V . 72, p. 137, 391.
T he Lake Shore & Mich. So. in 1901 purchased $3,200,000 of the stock.
V . 74, p. 883. The R eading Co. on June 30 1906 owned $1,000,000 and the
Central R R . of N. J. $1,600,000 stock. V . 81, p. 971. For list o f securi
ties ow n ed, see V . 66, p. 187.
In O ctober 1905 the entire capital stock of Coxe Bros. & C o., owning ex
tensive coal properties In Luzerne and Carbon counties, P a ., and o f the
Delaware Susquehanna & Schuylkill R R ., extending from D rifton to
Gow en. P a ., 31 miles, with branches, 17 miles, were acquired. See
“ Finances” below . V . 81, p. 1175, 1242, 1376; V . 82, p. 100; V. 83 p. 702.
COAL P R O P E R T Y .— T h e Lehigh V alley R R . Co. owns 3,619 acres of
coa l lands and all the ($650,000) stock o f the Lehigh Valley Coal C o., which
In Decem ber 1893 ow ned anthracite coal and surface lands:
Total acres. Coal acres.
Est'd yield
Ow ned in f e e ...........................................1 5 ,2 1 7
7,242
124,000,000
P erpetually leased....... ............................ 8,123
5,741
111,000,000
Term le a s e s __________________________ 1,708
1,708
47,000,000
Controls through stock ow ned_______ 9,229
4,519
50,000,000
Collieries 54, daily capacity about 30,000 tons. (V . 62, p. 364.) The
H azelton Coal Co. (chartered in 1896) stock is owned and its $2,000,000
first m ortgage 5s also owned and guaranteed— see V . 64, p. 137. In 1905
purchased the holdings o f Coxe Bros. & Cq. V . 81, p. 1175: V . 83, p. 702.
The Coal Co. shipped from collieries ow ned and controlled 7,667,665 tons
o f anthracite coal in 1905-06, against 7,975,210 tons In 1904-05; total coal
and coke tonnage, 1905-06, was 12,753,053.
D I V ’S— V 87. ’88 to ’91. ’ 92. ’93. ’94 to ’03. ’04.
’05. ’ 06.
1907.
Since’8 3 , % /4 M 5 yearly 5M 4
N one. A ug.,1
4
4 See below .
In Jan. and July 1907 2% and 1% extra
V 84, p. 102, 158, 1551.
B O N D S .— The gen. consol, m tge. of 1903 will secure $150,000,000 bonds
bearing not to exceed 5 % Int., covering the entire road, the stock of the
Lehigh Val. Coal Co. and other stocks owned. Of the bonds, $10,000,000
were Issuable at once, $10,000,000 were reserved to retire $8,516,000 car
trusts, ser. A to G inclus., and $1,535,000 coal purchase bonds, $96,000,000
to retire at or before m aturity outstanding fixed obligations amounting to
$94,130,000 (Incl. the coll. trust bonds, and $2,000,000 coal trust certificates
o f 1902. which were called for p a ym en t), on paym ent o f which the
general consols will be a first lien on all the property of the system , except
as to $12,600,000 annuity bonds, which are a perpetual charge; the re
maining $34,000,000 are Issuable at not exceeding $2,000,000 a year, or
such larger amounts as m ay be authorized by stockholders, beginning Jan 1
1906, for acquisitions, terminals, coal properties, equipm ent, &c. Old
bonds m ay, how ever, be extended if necessary for not over tw o years.
Provision m ay be made at the tim e o f issue o f bonds thereunder for the right
to convert Into stock at the pleasure o f the holder not over $25,000,000 at
any one tim e. V . 77, p. 824; V . 78, p. 287: V . 79, p. 1642; V . 82, p. 1380.
See property covered In V . 81, p. 211.
As to collateral trust 4s o f 1905. see “ General Finances” below.
G U A R A N T IE S .— Elmira Cortland & Northern R R .— This road, with the
Canastota N orthern, runs from Elmira to Canastota and Cam den, N . Y .,
140 miles. S tock, $2,000,000, is ow ned. V . 62, p. 364, 1177.
Lehigh Valley Railway Co. of New York.— Owned Buffalo, N . Y ., to near
Sayre, P a ., 175 m . double track, and branches to Ithaca, A uburn, & c., 106
m .: in all 281 m .. covered b y $15,000,000 m tge o f 1890, but in 1903 and
1905 consolidated with other sub. cos.: total mileage now is 501 miles.
S tock . $11,200,000, all owned b y Lehigh Val. R R ., was In June 1907 au
thorized to be Increased to $13,543,000. Mortgage abstract V . 51, p. 114.
V . 77, p. 147, 972; V. 81, p. 784; V . 83, p. 38; V . 84, p. 1366.
Lehigh Valiev Terminal Railway.— Owned double-track road from South
Plainfield, N. J ., to Jersey C ity, with abou t 125 acres at Jersey City and a
Rate
%
J
O
O
O
J
J
J
J
J
O
O
J
D
J
J
J
O
J
J
D
S
D
D
N
A
S
J
O
N
N
N
O
O
O
A
A
l x x iv
.
Bonds— P rin ci
pal, When D ue.
Stocks— Last
Dividend.
Knickerbocker Tr Co, N Y Jan 1 1947
April 1 1909
Merc T r Co, San Fran
Oct 1 1931
Farmers Tr C o , Lancaster;April 1 1935
Union Trust Co, DetroitlJuly 1 1915- 30
Amer Loan & T r Co, BostlJuly 1 1929
Jan 1 1923
Central Trust Co, N Y
' National E xch Bank, July 1 1911
N Y , and First Nat. July 1 1917
B k, W arw ick, N Y July 1 1911
April 1 1912
July 1 1920
June 1 ’0 8-’16
929 Chestnut S t, Phlla |July 1 1945
Jan 1 1952
do
do
July 1 1954
do
do
do
do
Oct 1 1953
Checks mailed
;July 13 1907 3
July 13 1907 5
do
Office, 228 So 3d St, Phila;June 1 1948
do
do
Sept 1 1910
do
do
Dec 1 1923
Irredeemable
do
do
JPM organ& Co.N Y& Phu May 1 2003
do
do
A u g 08-Feb 26
do
do
Sept 1 1945
1J P Morgan & Co, N Y July 1 1940
J and Philadelphia
Oct 1 1941
Office, 228 So 3d S t, Phil May 1 1920
N ov 1 1935
do
do
N ov 1 1942
Philadelphia
Lehigh Valley R R , Phila April 1 1939
April 1 1914
do
do
April 1 1914
do
do
Office, 228 S 3d S t, Phlla A u g 1907 2 %
A ug 1907 5 %
do
do
J
large water fron t there, & c. Merged in A ug. 1903 witn other sub. cos.
in L. V . o f N . J .. having a total mileage of 119 m ., Its $12,506,000 out
standing stock ($7,927,000 additional in treasury) being all ow ned b y
Lehigh Val. RR . V . 77, p. 972; V . 53, p. 640, 880; V . 81, p. 784; V . 83. p.703.
M orris Canal.— Leased for 999 years and dividends guaranteed. Bonds
all ow ned b y Lehigh V alley. See V . 50, p. 137.
Pennsylvania & New York Canal & Railroad.— Leased for 99 years from
D ec. 1 1888 to Lehigh V alley, which has assumed Its debt and owns all Its
stock. The consols Include $4,000,000 o f 5 per cents, $3,000,000 o f
4s, $1,500,000 o f 4 3^s. V . 62 p. 950.
Lehigh Valley Coal C o .— See “ Coal Property” abov e. V . 81. p. 1726.
Consolidated Real Estate C o.— See V . 78, p. 1223; V . 79, p. 1271; V . 83,
p. 702. T o June 30 1906 none had been issued.
Seneca County R y ., $500,000 guaranteed bonds, none Issued June 30
1906. See V . 79, p . 1271.
In July 1905 the Lehigh & Lake Erie was authorized to Issue $3,000,000
bonds for a terminal line; the $1,200,000 issued were in the treasury June 30
1906. V . 81, p. 211; V . 83. p. 702. The road Is leased for 999 years.
V . 84, p. 1248.
G E N E R A L F IN A N C E S .— In 1904 dividends were resum ed. V . 79, p.
103, 77; V . 80, p. 117. In O ct. 1904 $15,000,000 4 % ref. bonds were sold,
providing about $3,700,000 cash for general capital requirements and for
the retirem ent o f the $7,900,000 m tge. and coll. trust 5 % bonds and $2,000,000 5 % coal trust certificates. V . 79, p. 1642, 1704, 2205. See
“ B onds” above.
The purchase o f the stock o f Coxe Bros. & Co. ($2,910,150) and o f the
Delaware Susquehanna & Schuylkill R R . ($1,500,000) in O ct. 1905 was
financed b y an issue of $19,000,000 coll. trust 4 % b on d s, to be retired in
$500,000 semi-annual Instalments beginning A ug. 1907 and secured b y
deposit o f those stocks. The bonds are subject to call as a whole at 102 H
beginning A ug. 1 1912, or in the order of serial numbers. V . 81, p. 1175
1242, 1376; V 82, p. 100; V . 83, p. 702; V . 84, p. 1428.
E A R N IN G S .— For 11 m os. ending May 31 (exclusive o f coal com panies):
11 months.
Gross.
Net.
Other incom e. Im pror'ts. Net Incom e.
1906-07___$32,720,036 $12,584,079 $873,834 $1,823,8S8 $11,634,025
1 9 0 5 -0 6 -.. 29,616,993
11,013,687
419,864
1,181,854
10,251,697
A N N U A L R E P O R T .— Fiscal year ends June 30. The report for 1905-06
was given in V . 82, p . 682, 701. See also editorial, p . 660.
1905-06.
1904-05.
1903-04.
Earnings from co a l_______________ ...$ 1 3 ,2 4 8 ,5 6 5 $13,530,337 $12,835,076
Miscellaneous fr e ig h t _____ __________ 13,934,127 12,432,583 11,994,701
P assengers.............. ......................- ........... 3,971,392
3,509,825
3,155,715
Mail, express, & c ____________________
1,635,772
1,803,098
1,896,246
Total gross.............. .............................. $32,789,857 $31,275,843 $29,881,738
18,929,701 18,870,300
Operating expenses__________________ 20,152,211
N et e a rn in g s______________________ $12,637,646 $12,346,141 $11,011,438
Other Incom e_________________________
808,852
453,011
505,477
T otal in c o m e ......................................$13,446,498 $12,799,152 $11,516,915
A dditions and Im provem ents________ 1,570,227
1,411,551
1,465,290
Interest and re n ta ls _________________
5,673,892
5,217,376
5,083,583
T a x e s ___________ _________ ________ _
707,040
724,050
679,813
M iscellaneous_________________________
43,755
53,286
32,667
T otal d ed uctions.................................. $7,994,914 $7,406,263 $7,261,353
N et I n c o m e ..... ................................ ........ $5,451,584 $5,392,889 $4,255,560
Net incom e coal p ro p e rtie s__________
318,489
635,548
856,437
Total net in com e_____ _____________ $5,770,073 $6,028,437 $5,111,997
Dividends on preferred s t o c k _______ (10)10,630
(15)15,945
_________
Dividends on com m on s to ck _________ (4)1,613,392 (3)1,210,044
_________
Balance, surplus__________________ $4,146,051 $4,802,448 $5,111,997
P res., E . B . Thom as, 143 L ib erty S t., N . Y .; A sst, to P res.. E . A . A l
bright: 1st V .-P ., J. A . M iddleton; Gen. M gr., M. B. Cutter; T reas., W . C.
A lderson; S ec., D . G. Baird, 228 So. 3d S t., Philadelphia; E xecutive Com .:
Chairman, Eben B. Thom as; Geo. F . Baker, E . T . S totesbu ry, Charles
Steele, H . M cK . T w om bly and Geo. F . Baer.
Directors— Edward T . S totesbury, S. P . W olverton , Joseph W harton,
Geo. H. M cFadden, Charles Steele, Irving A . Stearns, Abram N esbitt,
H . M cK . T w om b ly, Eben B. Thom as, Geo. F. Baker, E. B. Sm ith, Geo. F .
Baer and R o b t. C. L ip p in cott.— (V . 84, p. 1367, 1428, 1551.)
LEXINGTON & EASTERN R Y .— Owns from L exin gton, K y ., to Jackson,
K y ., about 92 miles. E xtension from Jackson to H azard. K y ., 33 miles,
to be begun in spring o f 1907. S tock, $500,000; par, $100. Reorganized
w ithout foreclosure In 1901 per plan V . 73, p. 663.
B O N D S.— The 1st m tge. 5s were extended at same rate o f Int. to July 1
1911, the com p any having the right to call and redeem all or any of them at
102 and int. All Int. on the gen. mtge. bonds was waived to A ug. 1 1901,
Int. thereafter to be paid In cash Feb. and A ug. 1, as follows: 2 % yearly
for 5 years, then 3 % for 5 years and 5 % yearly thereafter to m aturity. D e
ferred debentures will be Issued from time to time for bal. of the Int. not paid
in cash on the gen. m tge. bonds accruing after A ug. 1 1901, such debentures
($375,000 eventually) being payable w ithout Int. whenever the com p any
shall decide (either in cash or gen. m tge. b o n d s), b ut imm ediately if a
dividend Is declared on stock.
E A R N IN G S .— 11 m os.,\1906-07_________Gross, $532,641; net, $214,625
July 1 to May 31.
] 1 9 0 5 -0 6 .-......... .G ross, $481,514; net, $210 343
Year ending June 30 1906 (92 m iles), gross, $528,912; net, $231,660:
other Incom e, $2,250; charges, $137,900; b a l., sur., $96,010. P res.,
A rthur Cary, L exington, K y .— (V . 76, p. 542.)
LEXINGTON UNION STATION CO.— T o own station at L exington, K y .,
expected to be com pleted a bou t July 1907. C om m on stock, $15,000, in
$100 shares, owned equally b y Louisville & N ashville. Ches. & Ohio and
Lexington & Eastern. There will be Issued $500,000 o f the 4 % cum ulative
(non-voting) preferred s to ck , secured, it was u n derstood, by m ort. and
rentals paid b y above-nam ed roads. President, J. Rogers Barr; Sec. and
T reas., A . Mitchell Jr.
81
/
RAILWAY STOCKS AND BONDS
J u l y , 1907.]
82
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
Lehigh Valley— (Concluded)
Lehigh Val Coal Co— Snow Shoe 1st M not guar GP.r
Lehigh & Lake Erie first m ortgage $3,000,000 auth
L V Coal Co 1st M $12,000,000 g s f not d ra w n .c’ &r
do
Interest reduced___________________________
Delano L ’d 1st M gold guar s f $30,000 y e a r ly ..G P
Consol Real Estate 1st M $2,<>00,000 guar____ Usm
E quip, trusts Series C g. due $200,000 y e a r ly .. PeP
do
gold Series D due $300,000 yea rly_________
do
gold Series E due $82,000 yearly__________
do
gold Series F due $80,000 y e a r ly .................
do
gold Series G due $100,000 yea rly_________
do
gold Series H due $90,000 y e a r l y ......... ......
Lexington & Eastern— 1st M g ext In 1901 red 102Ce.c*
General m ortgage g o ld ___________________________ N.r
Le xington Union Station— Pref Stock (see t e x t )______
Lime Rock— Consolidated refunding m ortgage g o l d ..
Litchfield & Madison first m ortgage $1,000,000 g-_E C
Little Falls & Dolgeville— 1st M $250,000 g o ld ______
Little Miami— Stock com guar 8 % 99 years P C & St L
Renewal m ortgage_________________________________ c
New m ortgage ($3,000,000)— V 7%: p 184 241, 1080
Little Rock & Hot sp W est— 1st M g gu p & 1 end.SS t
Little Schuylkill Nav RR & Coal— Stock (rental guar)
Long Island— Second (now first) m ortgage_________c*
Consolidated m ortgage gold ($3,610,000 are 5 s )..C e
General m ortgage gold ________________________ Ce.c*
Long Isl R R M on ferry for $2,750,000 g o ld ..C e .c *
Stewart Line m ortgage o f 1932 for $500,000 gold .C e
Debenture ($1,500,000) gold not subject to ca ll____
N ew York & Flushing first m ortgage assum ed____
B rooklyn & Montauk 1st M ($250,000 are 6s) .C e.c*
Second M gold ass’d Bus Sta to Eastp & brs.C e.c*
Long Island City & Flushing 1st M assum ed____ c*
Consolidated m ortgage gold assum ed______ Ce c*
New Y ork Bay Extension $200,000 1st M assumed
M iles Date
of
of
Road. Bonds.
1884
1905
1892
1892
1891
1906
1899
1899
1899
1902
1902
1905
1895
1895
1904
1903
84
84
53
32
155
156
163
" l8
~~2
76
76
12
19
6
1882
1901
1899
1878
1881
1888
1892
1892
1894
1880
1881
1888
1881
1887
1893
Size, or
Par
Amount
Value. Outstanding
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
] Payable.
Where Payable, and by
Whom.
lxxxy
.
Bonds— P rinci
pal, When D u e.
Stocks— Last
Dividend.
$500;
5
J & J Philadelphia
Jan 1 1910
$365,000
See text.
10,114,000
1933
1 , 0 0 0 1 1.400.000
Jan
do
1933
4 g
1,000[
Jan
1.089.000
1932
Philadelphia
5g
‘ Feb
1,000 In treasury
4
A
1956
1,000
400.000
D Phil Penn Co for I , &c ITo June 1, 1909
g j
1,000
900.000
S P rov Life & Tr Co, Phila T o Mar 1 1910
4^ g
l ,0 0 0j
164.000
A Philadelphia
T o Feb 1 1909
4^
1,000160.000
N|
do
T o May 1 1909
1,000
300.000
A
do
T o A ug 1 1910
1,000
540.000
A ...............................................T o Feb 1 1913
4 g
1,000
850.000
J J K T od & Co, New York July 1 1911
5 g
1,000 &c
1.500.000 See text.
A S e e text.
Feb 1 1935
100
4
300.000
1,000:
400.000
J & J Portland Me.
July 1 1929
4 g
1,000
600.000
M & N 52 W m S t, N Y ; & Chic N ov 1 1934
5 g
100 &cj
250.000
J
& J A mer E xch Nat Bk N Y 1933
3 g
50! 4,943,100
8 2-5 Q— M 10 Office, Fosdick Bldg, Cin June 10 ’07 2 1-5
1,000
5
1.500.000
M & N Bank o f Am erica, N Y
N ov 2 1912
1,000
2.422.000
F & A
do
do
Feb 1 1951
3)4
1,000
1.140.000
J
& J St Louis and Philadelphia July 1 1939
4 g
50
2,487,850
J
& J Office, 410 W alnut, Phila July 15 1907,2 H
5 g
100 &c
268,703
F & A U S Mort & Tr Co, N Y Aug 1 1918
7
1,0001
4.731.000 4 & 5 g
do
do & Lon July 1 1931
Q— J
1,0001
3.000.000
J
& D
do
do
4 g
June 1 1938
1,000
1.494.000
do
do
Mar 1 1922
4M g M & S
l,000j
332.000
J
& D
do
do
June 1 1932
4 g
l.o o o ! al.135,000
& D
do & Lon June 1 1934
do
5g
1,000!
125.000
6
do
Mar 1 1920
& S
do
i o o o ; 1.000.000 5 & 6 g
Mar 1 1911
& S
do
do
1,000!
600.000
5 e
& D
June 1 1938
do
do
l.o o o j
600,000
6
May 1 1911
& N
do
do
1,000
650,000
5 g
May 1 1937
& N
do
do
1,000
alOO.OOO
5
Jan 1 1943
& J
do
do
' i",66o
L I M E R O C K R R . — Owns road In and around R ock la n d , M e., 11 m .;
trackage, 1 m .; total, 12 m. S tock. $450,000; controlled b y the R ocklandR ockp ort Lime Co. o f Maine. V . 82, p. 1380. Year ending June 30 1906,
gross. $113,979; net, $60,147; other incom e, $3,679; charges, $20,558; div.
( 5 % ). $22,500; b a l., sur., $20,767. O ffice, R ockla n d .— (V . 82, p. 1380.)
L I T C H F I E L D & M A D I S O N R Y . — Owns Litchfield Jet. to M adison. 111.,
44 m .; trackage, 1 m .; tota l, 45 m . S tock , com m on, $500,000; p ref., 4 %
n on -cu m ., $500,000; pax of shares, $100. Form erly controlled b y Chic.
Peoria & St. Louis, but in 1904 control was sold to John R . W alsh and asso
ciates o f Chicago. For year ending June 30 ’06, gross, $205,009; net, $45,031; charges, $44,949; b a l., sur., $82. Pres., James D uncan, A lton , 111.;
S ec. and Treas., D. M. Cam eron.— (V . 79, p. 2456.)
L I T T L E F A L L S & D O L G E V I L L E R R . — Little FaUs, N . Y ., to D olge
ville, 10 miles. V . 75, p. 48. S tock, $250,000, o f which the N. Y . Cent.
& Hudson R iver In July 1906 acquired a m ajority. Bonds, see table. For
year ending June 30 1906, gross, $55,185; net, $21,271; charges, $10,475.
P res., W . H . Newman; S ec., D . W . P ardee.— (V . 83, p. 272.)
LITTLE K A N A W H A R R . — Parkersburg, W . V a ., to Palestine, 30 m .
S tock , $3,000,000 authorized: issued, $509,500. In N ov. 1905 the Pitts
burgh & Lake Erie acquired the road. V . 81, p. 1436; V . 82, p. 628.)
LITTLE MIAMI R R . — (See M a p s Pennsylvania R R .)— Owns Cincinnati,
O ., to Springfield, O .. 84 m .; bra n ch , X en ia , O ., to D a y ton , O .. 16 m .; D ay
to n , O ., to Ind. State line, 38 m .; leases, Colum bus & Xenia R R ., Xenia, O .,
t o Colum bus, O ., 55 m .; Cin. St. Con. R R ., 2 miles; total, 195 miles.
L E A S E .— On D ec. 1 1869 leased to Pittsburgh Cincinnati & St. Louis
(now Pittsburgh Cincinnati Chicago & St. Louis) for 99 years renewable for
ever. The Penn. R R . Co. Is a party to the con tract and guarantees Its
faithful execution. Rental Is 8 % on $4,943,100 stock and Int. on debt.
The stockholders voted Jan. 29 1907 to m od ify lease and Increase stock
from $5,000,000 to $10,000,000, the additional stock to be Issued as a special
4 % betterm ent stock. V . 84, p. 51, 815.
Lessee’s report shows results to lessee: In 1900* profit, $65,989; 1901, $67,151; in 1902, loss, $92,069; In 1903, loss. $241,593; In 1904, loss, $133,746;
In 1905, loss, $167,692; In 1906, loss, $185,303. Stock authorized, $10,000,000. Beginning Dec. '99 1 -5 % extra paid each Dec. and June from the
surplus Invested fund, making div. 8 2-5 % yearly. — (V . 84, p. 51, 271.)
L I T T L E R O C K & H OT S P R I N G S W E S T E R N R R — (See M a p M issouri
P a cific.)— Owns H ot Springs to Junction, A rk ., 53 miles, o f which B enton
t o Little R ock , 23 m .. Is leased to Choc. Oklahom a & Gulf R R . V . 68,
p . 85; V . 69, p. 283; V . 73, p. 722. S tock, $1,140,000, all ow ned b y St.
Louis Iron M ountain & Southern R y . (Missouri Pacific system ), which guar,
the bonds, principal and Interest, b y endorsem ent. V . 78, p. 583. D ivi
dend, 3)47o , paid in 1905-06. Year ending June 30 1906, gross, $235,092;
net, $63,736; fixed charges, $49,835; div. (3 )4 % ), $39,900; b al., d e f., $25,999. Pres., W . C. F ord yce.— (V . 78, p. 583.)
L I T T L E S C H U Y L K I L L N A V I G A T I O N R R & C O A L . — Owns from Port
C linton to Tam anend and Reevesdale, 32 miles. Re-leased on Dec. 1 1896
t o Phila. & R ead. R y . for 999 years, and rental reduced from 7 % on stock
to 5 % gold from Jan. 1 1897. Dividends: In 1898, 5 ^ %; 1899, 5)4 %;
1900. 5; 1901. 5 H ; 1902. 5 )4; 1903. 5 % ; 1904. 5: 1905, 5 14: 1906. 5: 1907,
5 )4 % . Lessee pays taxes and organization expenses.— (V. 73, p. 554.)
LO N G I S L A N D R R — Operates the steam surface roads o f Long Island
Owns—
M iles.
Leases—
»
M ile s ,
L on g Island City to G reen p ort.. 95 N . Y . & R ockaw ay Beach R y * . . 12
L ong Island City to M ontauk___115 Jam aica & S o.S h ore(V .78, p . 102) 5
S undry b ra n ch e s________________ 107 N . Y . B ’klyn & Man. B each*___18
T otal owned (V . 77, p. 2098.) .317
Total D ec. 31 1 9 0 y ____________ 391
Leases—
Operated electrically____________ 45
A tla n tic Avenue R R ____________ 10
Double tra ck _____ _______________ 126
N orth Shore Branch R R _________30
(•W hich see.)
STO C K . $12,000,000; par, $50; o f which Penn. R R . owns $6,797,900.
D IV ID E N D S .—
1 ’8 2 . ’83 t o ’90. ’91. ’92. ’93. ’94. ’95. ’96. None
P ercen t.
/
1 4 yearly. 4 H
5
5 4H
4
4 since.
B O N D S .— The refunding 4s o f 1903 ($45,000,000 authorized Issue) are se
cu red b y a lien on the entire road, subject to the $22,592,000 outstanding old
b ond s, to retire which an equal am ount Is reserved; rem ainder, $22,408,000, guar, as to prln. and Int. b y the Penn. R R ., were sold, the proceeds to
b e used for various Im provem ents and additions In connection with the
Pennsylvania tunnels to and through New Y ork City, principally for addi
tional terminal facilities at B ay R iage and Long Island City and for a dou
ble-track connection with the New H aven road, for additional freight and
passenger terminals, tracks, equipm ent, and to retire old bonds. V . 78, p.
583, 1549: V . 79, p. 2796; V . 80, p. 1111; V . 81, p. 211; V . 82, p. 868.
In April 1906 a 4 % equipm ent trust was arranged. V . 82, p. 864. The
Pennsylvania Co. Dec. 31 1906 owned $2,600,000 equipment certificates
<see V . 84, p . 928.)
The unified mortgage Is limited to the am ount now outstanding. Bonds
are subject to call at 110 In whole or In part on any Interest da y. V . 68,
p. 618. M tg;s. on real estate. $1,861,087. V . 76, p. 266; V . 85, p. 160.
G U A R A N T IE S .— In addition to guaranteed bonds In table abov e, guar
antees 5 % on $650,000 New Y ork B rooklyn & Manhattan Beach pref. stock
a s part rental: also 4 H % on $50,000 P. P. & So. Br. stock and 4)4 % on
$82,500 of the New Y ork & Coney Island stock.
The shareholders voted Mch. 14 1906 to guarantee, principal and Interest,
an authorized Issue o f $10,000,000 4 )4 % 40-year collat. trust bonds o f the
L ong Island Consolidated Electrical Companies, a holding com p any, all of
whose stock Is ow ned, for the trolley lines owned and controlled. The pres
ent Issue will p rovide the cost o f acquired and constructed lines, about $2,140,000, and about $500,000 was expected to be Issued for newlines and ex
tensions during 1906. See V . 82, p. 100, 864; V . 84, p. 865.
IM P O R T A N T C O N N E C TIO N S.— Construction Is in progress on the
c it y ’s extension o f Its R apid Transit tunnel from Manhattan under the East
R iver and thence to Flatbush A ve. Station. B rooklyn. V . 75, p. 30, 185.
T he Penn. R R . is also building an underground (tunnel) electric rail
road for passenger service from Jersey C ity, under the Hudson R iver to
[V ol.
a central passenger station at 33d St. and 7th to 10th avenues, and thence
under the East R iver to a connection with Long Island R R ., and thus with
N . Y . N. H . & H . R R .; see V . 74, p. 830; V . 75, p. 1203; V . 84. p. 9*1. As
to Im provem ents, see V . 80, p. 599, 997; V . 81, p. 31; V . 84, p. 1552.
L A T E S T E A R N IN G S ,— For 3 m onths ending Mch. 31:
3 M os.
Gross.
Net.
Oth. Inc. Charges.
B al.,D ef.
1907
$1,669,051 op . def. $234,079 $51,496 $580,668 $763,251
1906
1,404,622 op. def. 163,636
92,849
506.440
577,227
R E P O R T .— R eport for calendar year 1906 was In V . 84, p. 865.
1906.
1905.
I n c .o r D e t .
Gross e a rn in g s __________________ $9,595,596 $8,501,466 In c. $1,094,12#
Operating expenses______________ 7,647,955
6,785,611 Inc.
862,344
Net earnings................ .................$1,947,641
T otal n e t....... .......... ..........................$2,354,148
Rentals o f leased roads__________ $251,158
a Interest on b on d s______________ 1,772,465
Int. on m ortages & ground ren ts.
41,442
T a x e s .......................................... ..
260,563
M iscellaneou s____________________
56,879
$1,715,855
$2,139,473
$250,050
1,550,357
29,977
241,635 '
44,926
Balance ______________________ def. $28,359 sur. $22,529
Inc.
Inc.
Inc.
In c.
In c.
In c.
Inc.
$231,786
$214,674
$1,108
222,108
11,465
18,928
11,933
Dec.
$50,888
a This Item does not Include all the Interest, a “ proper p roportion” on
securities Issued for im provem ents extending through several years, from
which no additional revenue can be derived until com pletion, having been
charged to cost o f construction. See V. 84, p . 865.
Pres., Ralph Peters: Treas., H enry Tatnall. Broad St. Station. Phila.—
V . 82. p. 864, 868; V . 84, p. 339, 745, 865, 931; V . 85, p. 40, 160.
L O R A I N & A S H L A N D R R . — Under construction from Lorain, O .,
south through W ellington and Ashland to Black Fork R iver and thence to
the Ohio R iver, passing through the H ocking coal fields. O f this, 25 miles,
to W ellington was to be com pleted In 1906 and 30 miles additional, via
Ashland to Mansfield, to be built.im m edlately. Controlled bp Joseph R am
sey Jr. and associates. V . 82, p. 628, 805.
L O U ISIA N A & A R K A N SA S R Y .— Owns from H ope, A rk ., to Tioga.
L a ., 187.8 miles: extension from Packton to Jena, 29.86 miles: trackage,
Tioga to Alexandria, L a ., 8.18 miles; Tioga to P lnevllle, L a ., 6 miles, gives
second entrance to Alexandria; total, 231.84 miles.
S T O C K .— S tock (authorized, $7,000,000; outstanding, $3,750,000;
shares par. $100), o f which $3,745,000 Is deposited wl|h the Standard Trust
Co. o f New Y ork. V oting trustees 10 years; W illiam Buchanan, Edward E.
Porter. B enj. F . Y oaku m , H arvey E . Fisk and Charles L. Pack.
D IV ID E N D .— 1)4 % paid sem i-annually since March 1906.
B O N D S.— The unissued first 5s (total limited to $7,000,000) axe reserved
for betterm ents, equipm ent and extensions, o f which $1,000,000 reserved
for bridges across Black and R ed rivers, and the balance lim ited to $20,000
per mile o f com pleted railroad. The entire am ount outstanding, but no
part, will be subject to redem ption at 110 and Interest on any Interest date
after Sept. 1 1907. Beginning with Sept. 1907, a sinking fund o f $55,000
per annum to buy bonds, If possible, at 110 and Interest or under; otherwise
to txj Invested.
E A R N IN G S .— 11 m os., 11906-07............Gross, $1,101,764; net, $331,344
July 1 to May 31.
J1905-06______ Gross,
956,464; net, 339,550
R E P O R T .— R eport for year ending June 30 1906 was given at length In
V . 83, p. 1032, 1046.
Year—
M iles.
Gross.
Net.
Oth.Inc.
Ch’ges.
Balance
1 90 5 -0 6.............187 $1,057,526 $371,344 $20,981 $153,666 $238,659
1904-05.............. 167
844,535
322,823
20,050
141,351
201,522
Pres., W m . Buchanan, Texarkana, A rk .— (V . 84, p. 570.)
L OU ISIAN A & NORTH WEST R R . — Owns M agnolia, A rk ., to N atchi
toches, L a ., 114.7 miles; trackage. Magnolia to M cNeil, 6.4 miles; total,
121.1 miles. E arly In 1905 control was changed. V . 82, p. 49.
S tock, $10,000,000 authorized, o f which $2,300,000 outstanding; par,
$100. Car trusts April 1 1907, $16,400. Trustee o f prior lien bonds, P eo
ple’s Trust C o., B rooklyn, N . Y . O f the 1st 5s o f 1905 ($10,000,000 au
thorized Issue), $150,000 Is reserved to retire the old bonds and $425,000
for Im provem ents, equipm ent, <5cc. V . 82, p. 628. Pres, and Treas., GeoW . H unter, St. Louis; V .-P ., Hugh C. B row n. M agnolia, A rk .; S ec., John
A . Richardson, H om er, L a .— (V . 73. p. 957; V . 82, p. 49, 628.)
LOU ISIAN A R A IL W A Y & NAVIGATION CO.— Owns New Orleans t o
Shreveport, L a., 301 miles, com pleted Oct. 1906; branches from Colfax to
W infield, 28 miles, and from Alexandria to Jena, 8H miles.
Successor on Ju n e 22 1903 o f the Shreveport & R ea R iver Valley R y. V .
77, p. 36. Stock authorized, $12,000,000; outstanding, A pr. 1907, $4,885,000; pa r . $100. Bonds (see table above) are lim ited to $17,500,000 total
issue a n d $23,000 per mile: $300,000 has also been Issued for a bridge over
the R ed R iver at Alexandria; $4,000,000 Is reserved for New Orleans terml
nals.
See official statem ent, V . 77, p. 36; V . 77, p. 769. P res., W m . Edenborn, Hibernia B ld g., New Orleans; Sec. and A u d ., H . B . H elm : T reas.,
Clarence Ellerbe, Shreveport, L a .— (V . 83, p. 1098; V . 84, p. 390, 480.)
L O U I S I A N A S O U T H E R N R Y — See this S ec ti on for J ul y 1905.
L O U I S I A N A W E S T E R N R R — (See M ap of Southern P aciU c.)— O wn*
from L a f a y e t t e , L a . , to Sabine R iver. 105 miles; Midland to Eunice, 24 m.
M id la n d to A bbeville, 35 ai ; Mallard Jet. to Lake Arthur, 34 m ; total, 198
miles. Operated Independently, but In connection with Southern Pacific,
which owns all the $3,360,000 stock. Dividend on stock In 1905-06, 10% .
In year 1905-06, gross, $2,246,804: net, including other incom e, $1,179,588;
surplus over charges. $971,761.— (V . 74, p. 268.)
L O U I S V I L L E & A T L A N T I C R R .— Versailles, K y ., to B eattyvllle J e t . ,
101 miles, o f which Miller’s Creek to B eattyvllle,28 m .. opened In Dec. 1902
S tock, $1,000,000; par, $100. Year ending June 30 1906, gross, $321,015;
net, $64,608; total deductions, $79,078; balance., d e f.. $14,470. P res.,
J. P. Amsden, dec’d; S ec., E. M. W allace, Versailles, K y .— (V . 71, p. 236.)
RAILWAY STOCKS AND BONDS
J u l y , 1907.]
RAILWAY STOCKS AND BONDS.
84
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date
Of
of
Road. Bonds.
Size, or
P ar
Amount
Value. Outstanding
•Long Island— (Concluded)
Montauk Extension $600,000 first m ortgage ass’ d
21 1895
$1,000
a$315,000
316 1899
U nlf m ortgage gold call at 110___________ Usm.c&r
1,000
5,660,000
R efunding M $45,000,000 gold guar p & i.E q .c* & r
316 1903
500 &c 22,408,000
Leased and Controlled Lines, Principal or Interest Guar a nteed.
30 1892
L I R R No Sh Br cons M $1,425,000 gu p & i.C e.c*
1,000 a l ,262,000
N Y B & Man B 1st cons M $1,726,000 gold gu ar.C e
19 1885
1,000 al ,601,000
1887
N Y & R ock Beach 1st M $984,000 guar p & l ..C e
1,000
a883,000
10 ’8 6 -’91
P P & C 1 1st and 2d ($96,000 seconds) guar p & 1
1,000
436,000
Long Isl Electrical collat tr M $10,000,000___Usm
----- 1906
See text.
Louisiana & Arkansas— Stock $7,000,000 authorized
100
3,750.000
First m ortgage $7,000,000 gold (te x t)________S.c*& r
223 1902
1,000
3,598,000
'Louisiana & Northwest RR— Prior lien, gold _________
35 1895
1,000
100,000
114 1905
First m ortgage $10,000,000 g o ld ____________ MStc*
1,000
1,936,000
Louisiana Ry & Nav— First M gold (see t e x t ).-F .c & r
198 1903
1,000
4,865,000
Louisiana Southern— 1st M g red at 105 after ’0 2 .Ce.c
45 1897
500
250 000
Louisiana Western— First m ortgage g o l d ,......... Ce.c*
106 1881
1,000
2,240,000
Louisville & Atlantic— First M gold $1,000,000
K
101 1901
1,000
1,000,000
Louisville Bridge Co— S to ck __________________________
100
1,500,000
182 1896
Louisville H & St Louis— 1st M $2,500,000 g o ld -.M o
500
2 500,000
Louisville & Jeff Bridge— $5,000,000 g gu p&i en d ..C *
1895
1,000
3,500,000
Louisville & Nashville— Stock $60,000,000___________
100 60 000,000
E H & N 1st M H end to Nash g drawn at 110. .C e.c*
155 1879
1,000
1,525,000
Louisville & Nashv gen M gold drawn at 1 1 0 ..Ce.c*
803 1880
1,000 c 7 ,056 ,000
176 1877
L C & Lex 2d M s f not drawn Louisv to N ew port.c*
100 <Scc
892,000
Gen m ortgage L C & L gold (V 63. p 1010) .M o.c*
176 1881
1,000
3,258,000
L & N bonds & S N Ala R R 2d M as coll gold .U n .c*
192 1880
1,000 d l, 884,000
Pensacola D iv 1st M gold (drawn at 105)____ F.c*
45 1880
1,000
e355,000
141 1880
N ew Orl & Mob D iv 1st M N O t o Mobile gold.F .c*
1,000
5,000,000
Second m ortgage g o ld _______________________ c*
141 1880
1,000
1,000,000
Southeastern & St Louis D iv first m ortgage g o ld -.c *
208 1881
1,000
3,500,000
208 1881
Second M gold East St Louis to Evansville & br c*
1,000
2,998,000
192 1887
First M (50-year 5s) $15,000 per mile gold__U s.c*
1,000 f l ,749,000
First M collateral trust ($7,000,000) g o ld ____ F.c*
1888
1,000 g 4 ,705,000
Unified m ortgage for $75,000,000 g o ld . .C e.c* &r T ext. 1890 1,000 &c b37,064,000
Collateral trust M call at par after 1908 g old ._ U s .c*
1903
1,000 23,000,000
St Louis property 1st M gold $650,000______ SSt c !
1891
1,000
617,000
Mobile & M ontgom ery joint m ortgage g o ld ___Ce.c
179 1895
1,000
4,000,000
a In hands o f public: total issued shown in left-hand I colum In; bala nee unde r unified mo
L O U I S V I L L E B R I D G E CO. — Owns bridge 5.294 feet long over Ohio R I v .
a t Louisville. K y .. and about 2 miles track additional In Louisville. Us ed
b y several railroads— P. C. C. & S t.L . R y .. Louisv. & N ashv.. &c. Surplus
earnings are paid back to roads using bridge.
STOCK Is $1,500,000: Penn. Co. ow ned. Jan. 1 1907. $900,000.
Dlvs.
1896. 6 H % : 1897. 7 %: In 1898, 6 %: in 1899. 3 % : 1900. 8 %: 1901, 6 % ;
1902, 5 % ; 1903, 1 3 % ; 1904, 4 % ; 1905, 6 % ; 1906, 7 % . In D ec. 1903 the
suit o f the m inority stockholders was settled, $150,000 o f the $248,376 re
covered being distributed as a 10 % d iv. See V . 78, p. 102; V . 79, p. 2747.
F or year ending D ec. 31 1906, gross, $379,109; net, $189,007; dividends
■(7%), $105,000; b al., sur., $84,007.— (V . 79. p. 2747.)
L O U I S V I L L E H E N D E R S O N & ST. L O U I S R V . — R O A D .— Louisville
to Henderson, K y ., 144 miles (lncl. 6 m. trackage): Irvington to Fordsville,
K y ., 44 miles; L. & N. trackage, Henderson, K y ., to E vansville, In d ., 12
m .; tota l, 200 m. A reorganization June 1 1896 (per plan in V . 62, p. 138).
T h e Louisville & Nashville in 1904-05 acquired $706 081 preferred and
$1,318,385 com m on stock. V . 81, p. 1100. S tock, com m on, $2,000,000,
preferred, 5 % non-cum ulatlve, $2,000,000. V . 62, p. 138.
R E P O R T for year ending June 30 1906 in V . 83, p. 1169, showing gross,
$951,859; net, $249,926; im provem ents, $42,563; interest and taxes, $150,000: surplus, $57,363. V . 83, p. 155. 626. 1169.
L O U I S V I L L E & J E F F E R S O N V I L L E B R I D G E CO.— One half mile long
a n d the approaches one m'le- opened Jan. 1 1896. A lso owns about 40 acres
o f land in Louisville and 100 acres in Jeffersonville. S tock , $1,425,000;
m tge. is for $5,000,000 (trustee, U. S. Trust Co. o f N. Y . and Union Trust
Co. o f Indianapolis): bonds for $1,500,000 are reserved for future co n
struction, & c.; the bonds are guaranteed, b y the Ches. & Ohio and Cleve. C.
C. & S t. L . roads, in whose Interests the entire stock Is owned. See V . 61.
p . 559 — (V . 62. p. 84.)
L O U I S V I L L E & N A S H V I L L E R R . — (See M a p .)— R O A D .— Operates
m ain line from Cincinnati, O ., to New Orleans, L a ., 921 miles: with branches
t o St. Louis, M o., Memphis, T en n ., & c., 3,284 miles, making total system
proper, June 30 1906, 4,205 miles. The system Includes:
Lines owned absolutely or through
Reported separately—
M iles.
capital stock—
M iles. •Nashville Chatt. & St. Louis____ 922
Louisville to N ashville___________ 181 •Georgia Railroad system _______ 571
Sundry other lines______________3,077 •Louis. H end. & St. L ou is............182
Lines leased, & c.—
•Chic. Ind. & Louisville_________592
‘ South. & N orth. Ala. R R ______ 193 Owned but leased to other c o s ___21
Other lines_______________________ 7331 Do. Paducah & Mem. D iv ________ 248
Operated for other com panies____ 21
Blrm. South, (half stock o w n e d ). 26
Y ellow R iv . (all n o c k ow n ed )____ 26
Chesapeake & N ashville_________47
* See this com pa n y.
------T otal system prop er_________4,205
T otal o f all July l 1906 .......... 6.842
In July 1906 the Birmingham Southern, 26 m iles, was repurchased b y
Tenn. Coal Iron & R R . V . 83, p. 38.
in A pr. 1902 acquired control o f the Atlanta K n oxville & N orthern R y .,
K n ox v ille, T en n ., to Marietta, G a ., 205 miles, with 25-mlle branch and
trackage to A tlanta, G a ., 20 miles, which was merged In June 1904; a co n
necting line from Jellico. T en n ., to K n oxville, 66 miles giving direct line
Cincinnati to A tlanta, was com pleted In April 1905. The Chesapeake &
N ashville, Gallatin, T en n ., to Scottsvllle, K y ., 35 miles, with branch, 12
miles was taken over July 1 1906. V . 83, p . 155.
O R G A N IZ A T IO N .— Line opened betw een Louisville and Nashville N ov.
1859. For securities ow ned and in sinking fund see V . 83, p. 829, 830.
Control by Atlantic Coast L ine.— Late in 1902 the A tlantic Coast Line R R .
acquired a m ajority o f the stock (viz., $30,600,000 o f the $60,000,000 ou t
standing), but the roads are operated Independently. V . 74, p. 830, 1038;
V . 75. p. 733, 1399.
D I V I -( % ) 1 ’88 ’ 89 ’90 ’ 91 ’ 92 ’ 93 ’ 94-’ 98 ’99 ’00 ’01-’04 '05 ’06 1907
D E N D S .— J 5stk 5 stk 6 5 4 4 N o n e 3 H 4 5 y ’rly. 6 6
6
B O N D S .— The Evansv. Hender. &. Nashv. bonds are drawn at 110 b y lot
annually In O ct. for paym ent D ec. 1 In amounts Increasing each five years
until $150,000 per year is finally reached: in 1907, $75,000.
The Pensacola Division bonds are subject to a drawing sinking fund,
$5,000 till 1900, ln cl., then $10,000, and so Increasing. O f the bonds, $175,000 were drawn for oaym ent on Sept. 1 1905, b y paym ents to sinking
fund due from Sept. 1889 to 1905, lncl.; $20,000 In 1907. V . 81, p. 265, 726.
The general mortgage bonds o f 1880 are called at 110 In Increasing am ounts
each year; $405,000 was paid June 1 1907. V . 84, p. 749.
In June 1890 the “ unified" mortgage (trustee, Central Trust Co.) for $75,000,000 was authorized, $41,917,660 bonds being reserved to retire all prior
liens (none o f the prior liens can be ex ten d ed ), the balance for Im prove
m ents, extensions (at the rate o f $32,000 per mile. Including equipm en t),
and for other purposes. The m ortgage covers (besides about 2,200 miles of
road and equip m en t), $10,093,300 stock o f com panies controlled and $3,150,000 bonds free from any lien. See abstract of mortgage In V . 51, p.
■613; also V . 72, p. 1034, 1188; V . 77, p. 968. In May 1907 com pany re
ported $59,522,000 outstanding, o f which $4,241,000 In treasury, $18,200,000 deposited to secure the coll. trust 4s o f 1903 and $483,000 in sinking
funds or deposited for other issues. See V . 81, p. 1848.
M obile & Montgom ery— Louisville & Nashville Joint mortgage Is for $5,000,000; $1,000,000 reserved for Im provem ents. V . 61, p. 196, 750.
K entucky Central m tge. abstract V . 45, p. 372. South & North Alabam a
Im provem ent 5s, due A up. 1 1936, $1,920,000 authorized, are owned.
The collateral trust 4s o f 1903 ($30,000,000 authorized issue) are secured b y
deposit o f $24,000,000 L . & N . unified 4s, $4,779,000 L . & N. Paducah &
Memphis division bond s, the latter covering the road from Paducah, K y .,
t o M emphis, T en n ., 254 miles; $2,500,000 L. & N. Term inal Co. 4s (V . 75,
p. 1354), $4,045,000 South & N orth A labam a 5s and $510,000 Pensacola &
A tlantic 6s; total, $36,640,000 bonds. A proportionate am ount o f the co l
lateral m ay be withdrawn at any tim e on delivery to the trustee o f not less
than $1,000,000 o f the bonds. V . 76, p. 542: V . 78. p. 287. 1446.
In 1902 the Louisville & Nashville and the Southern R y . acquired $9,796,900 o f the $10,500,000 Chic. Indianapolis & Louisv. com . ana $3,873,400 o f
the $5,000,000 pref. stock in exchange for their join t 50-year 4 % bonds. V .
7 4 , p. 1138; V . 76, p. 593. O f the $15,500,000 join t bonds secured b y deposit
[V o l .
IN T E R E S T OR D IV ID E N D S .
Rate
%
5
4 g
4 g
When
Payable.
J
M
M
&
&
&
Where Payable, and by
Whom.
lxxxv.
Bonds— P rinci
pal, When D ue,
Stocks— Last
Dividend.
J U S Mort & Trust C o.N Y Jan
S
do
do
Mar
S A m E xch N at B ank.N YjM ar
5 g
Q— J
A & o
5 g
M & s
5 g
Semi-an
4H
4 V,
See text.ISee text.
M & s
5 g
& J
J
5 g
A & O
5 g
& J
4 H g'J
5 g |M & S
& J
6 g
J
M & N
5g
See text.
& J
J
5 g
M & S
4 g
6 In 1907 F & A
& D
6 g
J
6 g !J & D
7
iA & O
4*S g M & N
A & O
6 g
M & s
6 g
6 g
J & J
6 g
J' & J
6 g
M & s
M & s
3 g
M & N
5 g
5 g
M & N
& J
4 g
J
4 g 1A & O
M & s
5 g
4H g M & s
b. c , d , e.
rtgage.
1 1945
1 1949
1 1948
U S Mort & Trust C o .N Y
do
do
do
do
do
do
Oct 1 1932
Oct 1 1935
Sept 1 1927
1926-1931
In 40 years
Mar 15 1907 1 V6
Fisk & R obinson. N Y
Sept 1 1927
B ood y. M cL & Co. N YfJan 1 1945
O ct. ’06, paid, St. Louis April 1 1935
Farmers’ Trust C o, N Y July 1 1953
R W inthrop & Co. N Y Mar 1 1950
S P C o, 120 B ’w ay, N Y July 1 1921
K nickerbocker Tr Co .N Y !May 1 1941
Louisville, K y .
See text.
Bk o f Am er, N Y : & Louis July 1946
J P Morgan & Co. N Y Mar 1 1945
71 B roadw ay, New Y ork A ug 12 1907 3 %
do
do
D ec 1 1919
do
do
June 1 1930
do
do
Oct 1 1907
do
do
N ov 1 1931
do
do
April 1 1910
do
do
Mar 1 1920
do
do
Jan 1 1930
do
do
Jan 1 1930
do
do
Mar 1 1921
do
do
Mar 1 1980
do
do
May 1 1937
do
do
N ov 1 1931
do
do
July 1 1940
do
do
April 1 1923
St Louis Tr Co, St Louis Mar 1 1916
71 B roadw ay. New Y ork Sept 1 1945
f, g. see foot-note on n e x t page.
o f this stock, $1,563,000 are reserved to acquire the rem aining “ M on on"
stock and $2,110,000 for Improvements and enlargements o f the “ M onon”
at not over $500,000 yearly.
The A tlanta K noxville & Cincinnati division 4s ($50,000,000 authorized)
cover 618 miles, including 20 miles o f trackage. Of the bonds, an equal
amount will be reserved to retire at m aturity underlying bonds, v iz ., Ken
tucky Central 4s, $6,742,000; A tlanta K noxville & Northern bonds, $1,500,000. The line from Livingston to J ellico, 61 miles, is subject to prior
lien o f unftied mtge. V . 80, P - 872; V . 84, p. 1428. In Ju ly 1906 $19,155,000 o f these divisional bonds had been issued, o f which $10,000,000 sold:
balance held in treasury.
F IN A N C E S .— Since July 1 1894 the “ con struction a ccou nt” has been
closed. A m ount o f perm anent Improvements charged in operating e x
penses in 1905-06 was $2,586,630; in 1904-05, $2,562,314. In Feb. 1904
dividends on Nashville Chatt. & St. Louis stock ($7,177,600 owned) were
resumed, in Feb. 1905 increased to 5 % and Feb. 1907 to 6 % .
In Mch. 1907 $6,500,000 5 % 8-year gold notes were sold. V . 84, p. 508.
E A R N IN G S .— For the half-year ending Dec. 31:
6 M o s.—
Gross.
N et.
Other Inc.
Charges.
Balance.
1906
$23,930,446 $6,635,890 $765,124 $3,840,658 $3,560,356
1905 ............. 21,082,678
6,234,387
777,083
3,482,659
3,528,811
For 11 mos. ending May 31 1907, gross, $44,270,420, agst. $39,359,116
in 1905-06; net, $11,647,817, against $11,262,551.
For 9 m os. ending Mch. 31 1907, net, $9,779,996, against $9,392,530 in
1905-06: other incom e, $1,112,857; charges, $5,775,910; dividends at 6 %
yearly call for $2,700,000 (4}4 % ); bal., sur., $2,415,943.
R E P O R T .— Report for 1905-06 in V . 83, p. 811, 823; see also p. 786.
Year ending June 30—
1906.
1905.
1904.
Average m ilea ge_____________________
4,131
3,826
3,618
Freight ea rn in gs...................................... $31,536,207 $27,732,625 $27,348,817
Passengers ............................. .... ............. 8,985,215
8,619,650
7,643.685
2,164,796
1,951,291
Mail, express, & c ____________ _______ 2,487,574
Gross earnings............................... ...$ 4 3 ,0 0 8 ,9 9 6 $38,517 071 $36,943,793
Operating expenses__________________ 30,933,464 26,490,021 25,141,548
Net e a rn in g s .............................................$12,075,532 $12,027,050 $11,802,245
N et, lncl. investments, & c..................... 13,642,308 13,654,541 13.437.399
T a x e s .......................................................... 1,145,514
985,365
921,700
Interest and rent_____________________ 5,719,995
5,476,103
5,613,228
A dvances to S. & N. A ., & c__________
191,573
173,042
67,700
241,850
192,990
146,600
Sinking fund p a y m e n t s .........................
D iv id e n d s ............................................... (6)3,600,000 (6)3,600,000 (5)3,000,000
Surplus over dividends........................... $2,748 374 $3 227 040 $3 688 171
O F F IC E R S .— Chairman, H enry W alters, N . Y ., Pres., M. H . Sm ith,
Louisville; 1st V .-P ., W . L . M apother: 2d V .-P ., A . W . Morriss, 71 B ’w ay,
N . Y .— (V . 83, p. 1037; V . 84, p. 102, 508, 749, 1367, 1428.)
L Y K E N S V A L L E Y R R . & C O A L CO . — Owns from Millersburg, P a ., to
W illiam stow n, P a ., 20 miles. Lease to N orthern Central Is term inable on
60 days’ notice. R ental, $35,000 per annum .— (V . 64, p. 330.)
MA C ON & B I R M I N G H A M R Y . — Owns Sofkee Jet. to L a Grange, Ga.
97 miles; trackage Sofkee to M acon, G a., 8 m. Since F eb. 1 1904 operated
b y Ga. South. & Fla. officials, although Independently. V . 78, p. 584.
In year 1905-06, gross, $164,884; net, $20,723; other in c., $838; Int.
taxes and rentals, $34,735; b a l., d e f., $13,169.— (V . 82, p. 628.)
MA C ON D U B L I N & S A V A N N A H R R . — Owns road from Macon to VIdalia, G a .. 92 miles. Extension reported to be proposed from Macon to A t
lanta, 80 miles. S tock. $3,200,000 auth.; outstanding, $2,040,000 (par
$100), acquired In Jan. 1907 b y the Seaboard A ir Line R y ., which guaran
tees the bonds, principal and interest. O f the bonds, $600,000 are reserved
for Im provem ents and betterm ents. V . 84, p. 102, 450. V . 84, p. 102.
For year ending June 30 1906, gross, $268,549; net, $63,478; other Incom e,
$1,491; taxes, & c., $10,994; b al., sur., $53,975. Pres., W . A . Garrett.
O ffice, M acon, G a.— (V . 83, p. 1347; V . 84, p. 51, 102. 450.)
M A I N E C E N T R A L R R . — Line o f roa d , Portland to V an ceb oro, M e., v i a
A ugusta. 251 miles; branches, Cum berland Jet. to Skowhegan, via Lewiston,
91 m .; Bath to Lewiston and Farm ington, 76 m .; Belfast, F oxcroft. Bucksport and Mt. Desert, including ferry (7.7 m .) , 132 m .; Portland & Ogdeusb’g
R y ., P ortland, M e., to Lunenberg, 109 m .; small branches, 8 m .; Upper Coos
and H ereford railways, Quebec J e t., N . H ., to Lim e R idge, Q uebec, 108 m .;
Bath to R ockland (Including steam ferry, 6-10 m .), 49 m .; tota l, June 30
1906, 824 miles, o f which 396 ow n ed, 387 operated under 999-year leases
and practically owned; 33 m . under 50-year leases and 8 m. ferry lines.
In Jan. 1904 the entire stock o f the W ashington C ounty R y ., 137 miles,
was purchased. Its 3 H % bonds (see table above) being guar., prin. and Int.,
b y end.: but road Is oper. separately. V . 78. p . 103. 820. 989: V . 79. p. 2640.
In A pr. 1907 control o f the Somerset R y .. Oakland to Birch P t., Me.,
and branch, total, 96 m ., was acquired. V . 84, p. 804, 1183. Stockhold
ers voted A pr. 26 to lease the Portland & R um ford Falls R R . (which see),
O quossuc to R um ford J et., with branch, total, 100 miles, for 999 years.
V . 84, p. 868, 931.
S T O C K .— Stock for $2,516,000 ow ned b y B oston & Maine. V . 72, p . 988.
D IV ID E N D S .— 1884 to July 1903, 6 % yearly: since to July 1907, 7 % .
B O N D S .— There are also $81,000 Maine Shore Line 6s assum ed, due 1923;
also $95,500 Belfast & M oosehead Lake m tge. b ond s, due 1920. not guar
anteed, Interest and sinking fun d paid out o f rental; A n d . & K en . stock
b ond s, $ 11,0 00, exchangeable for M. C. stock: Maine Central Interest scrip
exchangeable for con sol, b ond s, $8,192. Jointly with B. & M. guara ntees
$300,000 P ortland U nion Station bonds.
A N N U A L R E P O R T .— R eport for 1905-06 was In V . 83, p. 814.
Year end. June 30—
1906.
1905.
1904.
1903.
Gross earnings................$ 7 ,6 5 5 ,6 5 5 $7,099,218 $6,773,560 $6,541,160
Net earnings.................... a l , 349,749
1,962,617
1.432.017
1.432,305
Other in c o m e __________
237,424
237,049
218,062
193,324
Net in c o m e .................. $1,587,173
$2,199,666
$1,650,079
$1,625,629
J TLT, 1907.
RAILWAY STOCKS AND BONDS.
^Gosport
^erre Haute
iCarrfllUoni
Columbus i
[Sullivai
famont
Ljtchfleld
85
[Bloomfield
Seymour]
VandaluKo
HUUboro
,N. Vernon
Bedford
?Alton'
Incennes
Dexdenne
Mitchell
‘V* r
1 C,
jw \
Washington
"•— *•
Georgetown
Portsmouth,
r
(t. Carmel
'
$/ / Princeton)
------
?
Huntinb’g
U .M
wroajo
>9 «
Crystal/€y,
Grayson
<5.
V r, S°N ; ^
f ™ aniS^ iUaboTojii
I^®^oCjlt!sterHng
j-^yWinchester
toone*b Stanton
(Mineral Pt.
-Murphys’^
Bismarck
iDe Koven
" stX
i®t®
c
^
Ji
C.Girarileau/
PRO VIDENCE
Delta
-Paducal
’VVood'Blng:
W IL T O N J C .
Poplar
Bluff
\
Vllliaifisburg
Celina
■
Umon C}.
I;) Kives
K n o b /1,
J cL L IC O p ^ j
TREVItlON'B
^S'
V T t j A L L a T IN V
y ^ q c u d ^ ra o n V .
[E D G E FI E L D ~ tT & ^
c u N 'BEif' ' l
l_l l l f ^
Gainesboro
Bobbins Roosevel^
Monterey
«g°ss,
Morrif
i Wa.verly
Jloxle,
Bockwood,
M A R Y V IL l
‘Shelby ViVartrac^
K&W
Pikevtlle
Pleasant Gr.
fQ ^ rle sto u
rt^ym u bNph y•
Pulaski
Middleton
Cowan\
^81.Joseph
11
|»
jorinth
iHolly Sprs.
t u s c u m b ia
TT
b id g e
U NTS VILLI
DECATURj
H o b b ^ .f
Is.
HartseH’st
Oxford,
D^rU>on j/1
Tupeio
Pontotoc
?tuVoevsou
Stevenson^
Athens!
1
__ Harris 1
Cullman
Gunthers V:
s to u ts M t ^
I p g s to n '
*tess$
Clarksdale
\ jU N T i
,Je.ffe4ga«.
h Atfteas
Grenada
’Aberdeen
Muldon
Jasper1
Jfnusj
rBOVLfj
West Point
ireenwood /
p a c . _________ -—
ga .
Winona
i
Stark V . /
Columbus
Leland
^WEWOKi
.Tohula
iY L A C A U G
Macon
Durant,
B arn eiV v .
Dade V .
Canton
Shehaw
V IC K .
Brandon
Raleigt
lolumbus
M YR'TLEWOpD
Anderson"
sroerlcu !
Quitihan
EufauUNL'Georgetown
Abbey V.
Smithville
H arriston,
Brookhaven
Laurel
Jacksoi
Columbia,
'Magnolia
Hattiesburg
Ft.Galnes
iKemps
Ozark
5” A r E v e rg r e e iF
.Tlfton
Columbia v £.a Blakely
„> °U
/ B Castleberry
^ Brewton
'Pollard
Clinton
o\') Albany
13
p.^AU
LOf,*iA
Valdosta
Thomas V.
Amite Cy.'
Monticello
PENSACOLA
imbia
Tallahassee
Pt. Lion
“Shell
M A P OF T H E
LOUISVILLE & NASHVILLE
RAILROAD SYSTEM.
86
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, A c ., see notes
on first page of tables.
Louisville & Nashville— (Concluded)
Pen & A t flrst m ortgage gold drawn assum ed____ c*
H enderson Bridge Co— 1st M g drawn at 1 0 5 .Ce.c*
Nashv Flor & Shefl 1st M g assumed In 1 9 0 0 ..C e.c
Sou & N or A labam a 2d M gold sink fd $2,000,000
Consol m ortgage (for $10,000,000) gold gu ar.C e.c*
Newp & CIn Br 1st M g s f ass’d gu b y Penn Co___F
L & N -So join t M $7,750,000 ted 1907____ S.c*& r
K entucky Central 1st M ($7,000,000) g o l d .. Mp.c*
A tlanta K noxville & N orthern 1st M g o l d . . ___Ce
Consol m ortgage gold $10,000 Der m ile______ Us
L & N— A tl K noxv & C D ivM $50,000,000 Usc*&r
__________ c&r
Notes $6,500,000 g o ld . . .
_
Louisville New Albany & Chicago— See Chicago Indl
Lykens Valley— S tock. Rental pays 5 % ___________
Macon & Birmingham— 1st M $500,000 g o ld -.O B .c
Macon Dublin & Sav— 1st M $1,840,000 g gu p & l. N.c*
Maine Central— S tock and scrip ($12,000.000)______
First consolidated mort-1 ($269,500 are 5 s ) ____ c& r
gage, $9,000,000 ____ J ($3,265,500 are 4s)___ c&r
Collateral trust bonds for Mt Desert B ra n ch ..A B .c
Im provem ent bonds “ A ” & " B ” not m ortgage s f._
Malne Central Eu & No A m refunding m ortgage gold
First M Penobscot Shore Line R R Co assum ed____
K & L second m ortgage (for $400,000) assum .BB
European & Nor Am er stock 5 % rental 999 y e a r s ..
Portland & Ogdensburg stock (2 % rental 999 years)
Cons M ($800,000 are 3)48) guar p & 1 end__B B .c
Portland Union Station series “ A ” & ,4B ” (text) s f
Dexter & Piscataquis stock 5 % rental 999 years____
First M D exter to D over etc guar b y end____ BB
H ereford R y stock (rental 999 years)______________
First m ortgage guaranteed p & 1 (endorsed)____
U pper Coos R R stock 6 % rental 999 years..............
First m ortgage guaranteed p & 1 (endorsed)____
Extension M $21,000 d m guaranteed p & 1 (end)
b Also $22,458,000 In treasury or pledged for other
$29,000 d $76,000 e $30,000 f $15,000 » $424,000
1906.
In terest------------------------$617,960
551,186
Rents ......................... ..
D iv id e n d s --------------------- (7)348,369
13,440
S inking-fund.....................
A pp. Bangor T erm inal.]S ee foot-\
Charged o f f ____________ \ n o t e a . J
M iles Date Size, or
P ar
Am ount
of
of
Road. Bonds. Value. Outstanding
160
10
105
192
192
1881
1881
1887
1880
1886
1895
1902
1887
1896
1902
1905
1907
11s & L
1,000 11,523 000
1,000
1,372,000
1,000’ k l ,996,000
l.OOOiOwn L & N
1,000 m 3,247,000
1,000
1,400,000
1,000 &C n 5,882,500
1,000 16,698,000
247
228
1,000
999,000
228
1,000
500,000
722
1,000 &c 10,000,000
___
1,000 &c
6,500,000
anap o
oulsvlUe
20
19
600,000
1.000
500,000
97 1896
92 1907
1,000
1,240,000
100
4,988,000
\ 304 f 1872
100 &c
4,193,500
100 &c
4,790,500
11872
]
41 1883
1,000
669,000
__ ’8 6 -’87
1,000
450,000
56 1893
1,000,000
1,000
1,300,000
48 1890
1,000
1,000
400,000
48 1891
2,494,100
120
100
100
4,392,538
109
1,000
2,119,000
109 1888
1,000
300,000
’ 8 7 -’89
100
122,000
"17
1,000
175,000
17 1889
100
800,000
53
1,000
800,000
53 1890
350,000
55
100
350,000
22 1890
1,000
693,000
33 1890
1,000
Issues e tc., See text. A dditional
1$8 08.000
j $44.0 00 k $100
1905.
1904.
$631,860
$643,110
545,876
545,876
(7)348,365 (7)348,348
144,694
29,440
300,000
.......................
50,000
____________
1903.
$643,110
545,876
(6)298,575
29,440
................
_________
[V o l.
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
F
6g
M
6g
F
5g
A
6g
F
5g
4H g J
J
4 g
J
4 g
J
5 g
M
4 g
M
4 g
M
5S
5 in 1906
5 g
5 g
7 In 1906
5 & 7
4 & 4H
5
4 yi
4 g
4
5
5
2
3M &’ 5
4
5
4
4
4
6
4
4H
amounts
,000 m $
Bonds— Princi
pal. When D u e
Stocks— Last
Dividend.
& A 71 B roadw ay. New Y o r k A u g 1 1921
& S
do
do
Sept 1 1931
& A
Aug 1 1937
do
do
& O
do
do
April 1 1910
& A
Aug 1 1936
do
do
& J
July 1 1945
do
do
& J J P Morgan & C o. N Y July 1 1952
& J 71 Broadway. New Y ork July 1 1987
& D
do
do
Dec 1 1946
& S
Mar 1 2002
do
do
& N
May 1 1955
do
do
Mch 1 1910
& S
Q— J
& J
& J
Q— J
A & O
A & O
J
& D
J
& J
J & J
F & A
F & A
A & O
Q— F 28
M & N
J
& J
J
& J
J
& J
M & N
M & N
M & N
M & N
M & N
were ow
4,753,00
J
J
Where Payable, and by
Whom.
lxxxv
Office, 13 W illiam St .N Y July 1 ’07 1 X %
Old Colony Trust. Boston July 1 1946
New Y ork Trust Co, N Y Jan 1 1947
Office, Portland, Me.
July 1 ’07 1 H %
\Second National B an k ,/ April 1 1912
J Boston: & Portland ( April 1 1912
Am L & T r, Boston
June 1 1923
2d Nat B k, Bost: i Port July 1916-1917
Boston and Portland
Jan 1 1933
Second Nat Bank, Bost Aug 1 1920
do
do
Feb 1 1921
Treasurer’s Office, B ang’r A p r 15 ’ 07 2
Maine Cent Off, Portland May 31 ’ 07
2d Nat B k, Bost; & Port N ov 1 1908
Portland, Me; & Boston June 27-Jan 29
Office, D over, Me.
July ’07 2H %
2d Nat B k, Bost: & Port July 1 1929
Maine Cent Off, Portland May 1907 2 %
N ov 1 1930
2d Nat Bank, Boston
Office, Portland, Me
May 1907 3 %
2d Nat B k, Bost; & Port May 1 1930
Office, Portland, Me.
May 1 1930
ned b y the Co. on July 1 1906, viz.:
0
n $31,000.
Equipm ent notes Dec. 31 1906 $30,000. Paid on Incomes 1901 3 % ; since
to 1906, Inclusive, 4 % yearly.
E A R N IN G S .— 12 m o s .,j 1906-07................ Gross, $360,546; net, $123,305
July 1 to June 30.
]1905-06_________Gross, 360,297; net, 120,217
Surplus over charges. $60,296, against $59,217 In 1905-06.
R E P O R T .— R ep ort for year end. D ec. 31 1905 in V . 83, p. 509. I n l9 0 6 ,
gross, $354,354; net, $116,857; int. on bonds, & c., $82,002; m iscellaneous,
$1,099; b al., sur,, $33,755. Pres., John W ilson B row n.— (V . 84, p. 390.)
B al., surplus................
$56 218
$178,871
$83,305
$108 628
MASON CITY & FT. DODGE ,RR.— (See M a p Chicago Great W estern.)—
a Operating expenses in 1905-06 Include $1,262,581 extraordinary e x
Owns road from Oelweln, l a ., to Council Bluffs. 260 miles; H ayfleld, M inn.,
penditures, against $191,764 In 1904-05, when $350,000 was also charged
to Clarion, l a ., 100 m .; branches to Lehigh and Coalville, la ., 18 m .; track
against net incom e for similar purposes. V . 84, p. 868, 931, 1183.
age, Council Bluffs to South Omaha, 7 m .; tota l, 385 m . The Chicago Great
MANCHESTER & LAW REN CE R R .— Owns from M anchester, N . H ., to W estern owns the entire outstanding com . stock ($19,205,400 of the au
Methuen (State L in e ), 22 M miles. Leased for 50 years from Sept. 1 1887 to thorized $20,000,000) and the non-cum . 4 % pref. stock ($13,635,752 of the
B oston & Maine at rental paying 10 % d lv. In 1895 a div. of 50 % paid from $14,000,000 authorized) and operates the road as part of Its main line t o
proceeds o f C. & M. suit.— (V . 73, p. 1264.)
Omaha, under a 100-year agreement dated April 1 1901 and later m odified,
M ANH ATTAN R Y . (E L E V A T E D ).— (See M a p Interborough Rapid Tran the M. C. & Ft. D. receiving 60% o f all earnings from business interchanged.
sit C o .)— Owns all the elevated railroads in boroughs of M anhattan and the
A n y surplus o f net earnings after paym ent o f Interest on bonds and pref.
B ronx, N . Y . C ity, m ain line and branches, 37H miles, double-tracked, with stock is to be held in trust b y C. G. W . for paym ent o f future coupons.
14 miles additional third track, sidings, &c. V . 70, p. 176, 633. Late In This surplus on June 30 1906 amounted to $1,062,976. In 1905 $12,000,000
4 % bonds were sold. Compare Chic. Great W estern R y . and V . 73, p.
1902 began using electric thlrd-rall on entire system . V . 75, p . 733.
L E A S E .— The Interborough R apid Transit Co. leases the road for 999 566, 616, 722; V . 77, p. 640. V . 78, p. 1782; V . 80, p. 2621. R eport for
years from A pr. 1 1903, guaranteeing 7% per annum on the stock. V .7 5 , p. year ending June 30 1906 in V . 83, p. 632, showed, gross, $1,863,456; net,
1202, 1302; V . 76, p . 212; V . 79, p. 2456; also Interborough Rapid Transit $667,476; charges, $530,280; b a l., sur., $137,196.— (V. 80, p. 1380.)
M A S SA W IP P I V A L L E Y R Y .— Province Line to Lenoxvllle, Q ue., 34
C o ., V . 76, p. 101. G uaranty, V . 76, p . -480.
S T O C K .— On N ov. 28 1906 $4.800,000 stock was sold, raising the amount miles, with branch, 3 m .; trackage to Sherbrooke, Que., 3 m .; total, 40 m .
Leased for 999 years from July 1 1870 to the Connecticut & Passumpslc
to the $60,000,000 authorized. V . 83, p. 1228, 1291; V . 84, p. 271.
Rivers R R . S tock, $800,000; par o f shares, $100; dividends payable F eb.
B O N D S .— Consolidated mortgage (trustee. Central Trust Co.) Is limited on and A ug. 1. D ividends, form erly 5 %, 6 % since Jan. 1 ’97. Of the stock ,
present mileage to $40,000,000, and will provide for prior bonds when due. $400,000 owned b y the Conn. & Pass. R iver Is deposited under Its m tge. and
A m ounts beyond $40,000,000 may be Issued for extensions at the rate of $50,000 Is represented b y Connecticut Trust & Safe Deposit Co. o f H artford
$300,000 per mile o f single and $600,000 per mile of double track. (See 5 % trust certificates. (See “ Supplem ent” o f October 1901.)
abstract o f m ortgage In V . 51, p. 248, and com pare V. 52, p. 353.
M E A D V IL L E CONNEAUT LA K E & LINES V IL L E .— Meadvllle to
T o May 1898 claims aggregating $8,847,854 had been paid as damages to
Llnesvllle P a ., 21 miles, and branches, 2 miles; total, 23 miles. Leased
abutting property and other cases were before the courts. See "C h ronicle,”
V . 66, p. 954, and V . 67, p. 789; V . 82, p. 1380; V . 83, p. 1171. Personal to June 8 1989, to Pittsburgh Bessemer & Lake Erie R R .; rental. 25 % of
Drooerty tax assessment see V . 66. p. 954; V . 67, r>. 222; V . 68. p. 1 282, and gross earnings. S tock, $200,000; par, $50.
V . 71, p. 1120; V . 84. p. 1307. Taxes in litigation Oct. 1906 (other than
M E R ID IAN T E RM IN A L CO.— Owns passenger station at Meridian, Miss,
franchise ta x ), per balance sheet, $347,940. V . 76, p. 212. In Jan. 1907 opened Sept. 1 1906, and used b y the Southern R y ., Mobile & Ohio. New
franchise taxes for 1900 to 1905 ($3,170,142) were paid. V . 84, p. 271.
Orleans & Northeastern R R ., A labam a & Vicksburg and A labam a Great
D IV ID E N D S .— 1 ’ 89. ’9 0 -9 6 . '97. ’ 98. '99. ’00. 01. ’02. ’03. Since.
Southern, which own one-fifth each o f the $25,000 capital stock and guar
4
4
4
4
4 7M 7 % y ’rly
Since 1888_____ % J5H 6 y ’rly. 4 H
antee the bonds jo in tly and severally b y endorsem ent. President, C.C
H arvey; Secretary, W . J. Kelleher.— (V . 83, p. 1229.)
E A R N IN G S .— For 9 m onths ending Mch. 31;
9 M o s .—
Gross.
Net.
Other Inc. Chgs. & dlv.
Balance.
MEMPHIS R R . TE RM IN A L CO.— V . 84, p. 570.
1906-07......... $10,350,082 $6,157,876 $307,233 $4,339,683 $2,125,426
M EXICAN CEN TRAL R Y . LIM ITED (M E XIC O ).— (See M ap .)
1905-06-------- 9,363,849
5,257,992
284,708
4,310,095
1,232,605
Owned—
M iles.
Owned—
M iles.
Year ending June 30—
1906.
1905.
1904.
M exico C ity to Juarez C ity____ 1,224 Jimenez to R osario____________
96
Gross earnings-______ _______________ $12,794,720 $13,198,292 $14,187,685
M
exico
to
R
io
Balsas__________
181
Other
branches________________
585
Net over operating expenses................ 7,372,006
7,651,354
8,341,634
Leased—
Other incom e________________________
363,308
309,552
341,504 Chlcalote to T a m p ico__________ 407
11
Interest, rentals and taxes___________
3,181,554
3,007,515
2,893,412 T am pico to Paredon___________ 370 M exico Union R y _____________
Branch, Irapuato to A m eca ___ 217 B$r extension (T am pico to La
D iv id e n d s .............. ................................ (7)3,864,000 (7)3,864,000 (7)3,864,000
B ranch, Guadalajara to T uxBarra) ______________________
6
p a n __________________________ 120
$689,760 $1,089,392 $1,925 726
Surplus after dividends___________
T otal July 1906 . .................... 3,355
San Pedro to Paredon_________ 138
— (V . 83, p. 1098, 1171, 1228, 1291, 1347; V . 84, p. 271, 1307.)
In A ug. 1905 an extension was proposed from Lecherla, near City of
M AN ILA R Y. (1906)
Ltd.— O R G A N IZ A T IO N .— T o own (per plan M exico, to near T am p ico. 225 m .. Including the Pachuca Zacaultlpan &
V . 83, p. 1470) practically all the bonds and shares Issued b y the Manila T am pico R y . (purchased), Sandoval to A p u lco, & c., about 62 m ., the un
R R . o f New Jersey. The latter will build about 420 miles o f road on the constructed portion carrying a subsidy o f 5 % M exican Governm ent silver
Island o f Luzon, Philippine Islands (V . 83, p. 1348), and take over the pres bonds at $10,000 per mile. Coahuila & Pacific R R ., Saltillo to T orreon,
ent system , 208 miles, operated b y the Manila R y . (old C o .). total to be M ex., 200 miles, was acquired In A ug. 1905. an extension from Saltillo to
628 miles. Incorporated under laws o f Great Britain. Speyer & Co. and P aredon, 47 miles, being com pleted Sept. 1906. V . 80, p. 1856; V . 81, p.
others are furthering the enterprise.
726, 1792; V . 83, p. 1466. On Sept. 1 1905 acquired m ost o f stock o f Mex.
S T O C K .— Ordinary shares authorized, £2,000,000; 5% non-cum . prefer Nat. Construction C o., owning road from Zacatecas to Ojacallente, 30 m .,
ence shares, with preference as to principal in case o f liquidation, £2,000,000, and Manzanillo to Colima, 60 m ., a connecting line to be built from T uxpan
all o f £10 each. O f ordinary shares, £1,600,730 Is reserved for the new Co. to Manzanillo, 102 miles, form ing a through line to the Pacific Coast. V . 79,
D E B E N T U R E S .— The " A ” and " B ” 4% debenture bonds are secured by p. 1957; V . 80, p. 1172, 2621; V . 81, p. 31, 726, 1792; V . 83, p. 1466.
the same trust deed and are a first and second charge, respectively. The
O R G A N IZ A T IO N .— Incorporated Feb. 25 1880 under the general law o f
“ A ” debentures are subject to call after 1925 at 105. Denominations of Massachusetts, and also holds a charter from the M exican G overnm ent.
debentures, £ 20 , £ 50 , £100 and £200. T otal Issuable on 628 miles, £3,Debt readjusted In 1889— see V . 48, p. 191, 292, 327.
000,000 each o f " A ” and “ B ” debentures, o f which there are now to be Is
In J viy 1907 consolidation o f the Mexican Central R y . and the Nat R R .
sued £1,600,000 “ A ” and £1,730,000 “ B .”
of M exico was pending, the Mexican Governm ent to acquire control o f the
A dditional am ounts o f each class beyond the £3.000,000 m ay be Issued consolidated com p any, to be known as the National Railways of
H.
L. Higgins will be Pres, and Gen. Man. o f the A m . C o.— (V . 83, p . 1470) M exico. The new com pany will Issue prior lien 50-year 4*4% and general
MANISTIQUE MARQUETTE & NORTHERN R R .— Manlstlque, M ien., m ortgage 70-year 4 % bonds, the latter to be guaranteed, principal and
on Lake Michigan, northerly to Shlngleton, on the Duluth So. Snore & A t in terest,by the Mexican Governm ent. A syndicate has been organized to
lantic, 40 m ., with branch to M cNeil’s, 13 m .; V . 75, p. 185. Operates car buy the bonds o f the com pany at a given figure and then offer them in ex
ferries betw een Manlstlque and N orthport and Manlstlque and Ludlngton on change to the holders o f the present securities o f the Mex. Cent, and Nat.
Pere Marquette R R . Stock $2,000,000, o f which the Grand R apids & R R . o f M exico. The Mex. Cent, consol. 4s will be offered a certain amount
Indiana owned $1,898,800. V . 82, p. 1098. Sold In foreclosure on Sept. 21 o f each class o f new bonds and stock. V . 83, p. 1470; V . 84, p. 51;V.85, p . 99 .
S U B S ID Y .— The balance o f the subsidy trust fund In the bands of the
1905. V . 81, d . 975; V . 78, p. 2012; V . 74. p. 776; V . 76, p. 810. N o plan
o f reorganization form ulated to June 1907. For year 1903: Gross earns., trustee for the paym ent o f Int., If needed, on 1st consol. 4s, on June 30 ’ 06.
$130,936; net, $1,890: int. on bonds, $51,667; d e f., $49,776.— (V . 81,p.975.)
constated o f $2,636,000 o f priority m tge. bonds at cost, $2,883,562 and
$2,439 cash, $1,000,000 priority bds. (cost $1,093,916) having Deen wlthMANISTEE & GRAND R A P ID S R R .— See page 178.
diaw n from the fd. during the yr. end. June 30’06 to pay Int. V .S 3 ,p .l4 6 6 .
MANITOU & P IK E ’ S PE AK R Y .— See page 178.
S T O C K .— A uthorized, $32,000 per mile or $100,000,000 In all; par, $100.
In July 1906 $11,285,000 new stock was listed and $328,200 additional
M ARICOPA & PHOENIX & SALT R IV E R V A L L E Y R R .— M aricopa to
Phoenix, A riz., 36 miles; Tem pe to Mesa. 7 miles; tota l, 43 miles. Acquired was Issuable for new acquisitions; total, $59,454,300. V . 81, p . 1792.
B O N D S.— O f the authorized Issue o f $8,000,000 priority bonds $1,403.000
at foreclosure sale Dec. 1906 by Southern Pacific Cp.— (V. 83, p. 687.)
were paid oft with subsidy collections, and canceled in 1891; $1,000,000 was
M A R Y LA N D D E LA W A R E & V IR G IN IA R Y .— See page 178.’
reserved for additional rolling stock: the balance, $5,597,000, was held as
M A R Y L A N D & PE N N SYLV A N IA R R .— Baltim ore, M d ., to Y ork , P a ., an Investment b y the trustee o f the consol, m tge., but $1,961,000 was
80 miles, with branch, Delta to Peach B ottom , 4 m. V . 72, p. 339. T o be withdrawn In 1904-05 and $1,000,000 In 1905-06 toward paym ent o f Inter
equipped electrically at least from Baltimore to Belalr, 26 m . V . 82, p .138 est on outstanding consol. 4s; on June 30 1906 $2,536,000 o f the $2,961 .000
ST O C K A N D B O N D S .— S tock authorized, $3,600,000, of which $1,997,had been sold and $425,000 was In the treasury. V . 52, p. 390; V . 79. p.
WO reserved for future requirem ents. In 1902 the authorized Issue o f the
103; V . 82, p. 1497: V . 83, p. 1466. (See abstract o f m tge. In V . 49, p. 177.)
flrst 4s was reduced from $2,700,000 to $1,200,000, of which $203,000 are
Both series o f Incomes are non-cum . and secured b y one Indenture to the
t«served to retire the Y ork and Peach B ottom 5s and $97,000 addl- American L. & T . Co. o f Boston. First Incomes received 3 % Interest In
.lonal for future purposes, &c. V . 74, p. 04, 427' V . 79, p . 2205. Marv- 1890, 1891 and 1892; none since. V . 72, p. 627, 880. Dem and o f Incom e
ajnd & Pennsylvania Terminal guaranteed bonds, V . 82, p. 1041, 1102. bondholders for accounting, V . 85, p. 40.
87
RAILWAY STOCKS AND BONDS.
J u l y , 1907.]
RAILWAY STOCKS AND BONDS
88
R A IL R O A D S .
F or explanation of column headings & c ., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
Maine Central— (Concluded)
14
D exter & Newport stock 5 % from N ov 25 1898____
14 1897
First M (old 6s refunded In 1897) guar p & I e n d ..*
Eastern Maine stock 4 ^ % rental 999 years______
19
137 1904
W ash Co 1st M $20,000 d m gold guar (end) red
1907
Somerset R y notes $1,500,000 gu p & i _____________
M an ch ester & L a w ren ce — Stock 10 % rent till ’ 37 B&M
22
Real estate bonds (not mortgage) lnt gu b y B & M .c
1892
M an h a ttan (E lev a ted ) R y, N Y— Stock $60 ,00 0 ,0 0 0..
'3 7
M etropolitan El 1st M $600,000 p m assum g__Ce.c*
18 1878
32 1886
N Y El debentures secured b y con m ortgage o f 1890
32 1890
Manhattan Elevated consol m ortgage g old .C e.c* &r
53 1902
M anis M arq & N orthern — 1st M $1,500,000 g o ld ____
Man & P ikes’ Peak R y — 1st M $500,000 g o ld ___Mp.c
9 1891
Md D & Va— 1st M $2,000,000 auth gold guar p & 1
71 1905
40 1882
M aryland & Penn — Y ork & Peach B ottom m o rtg a g e ..
80 1901
First M $1,200,000 gold call at 105______ MeBa.c*
80 1901
Incom e M $900,000 4 % cum call at par______ MBa
Maryland& Penn Ter 1st M $200,000 g gu p&i redlOl
1906
378 1905
M ason C ity & Ft D o d g e — 1st M $12,000,000 g - .C e .c & r
M a ssa w ip p i— Stock guar same div as Conn & P a s s ..
37
M eadville C on n eau t Lake & L in esville — First mortgage
23 1891
M eridian T erm in al — 1st M $250,000 g o ld ______ S.c*&r
1905
M exican Cen tral — 1st M Including scrip___________
1881
Priority bonds gold redeemable at 1 1 0 ..... .................
1889
Consolidated m ortgage $32,000 p m g o ld ._ B B c*& r 3.138 1889
First cons Inc & scrip non-cum ($9,600 p m) g .A B .c * 3.138 1889
2d cons Inc ($6,400 p m) red 50 % to Aug 1929 A Be* 3.138 1889
Registered Income bonds and scrip unassented____r
1881
Collateral trust notes $10,000,000 a uthorized ______
1905
Collateral trust notes $35,000,000 gold redeem p a r ..
1906
Car and locom otive rental notes____________________
1897
Equipment 5s $50,000 redeemable yearly at p a r .,
do ($50,000 yearly par) red 102 M beg ’ 10 OB c*
1899
Mjex Int — Prior lien £1,200,000 red at p a r. U n.xc*& r
615 1897
First cons M $16,000,000 gold not g u a r ..M p xc*& r
880 1897
880 1897
do
gold guar stp subj to call at 95 to Mar 1907
Incom e 4 % bonds (no mortgage) n on -cum ulatlve..
M exican M ineral — 1st M $500,000 g red 110 S f . . M o
1 6 1 1899
Size, or
Par
Amount
Value. Outstanding
$100
100
1,000
100
1,000
100
£ & $
1,000
1.000 &c
1,000
1,000
1,000
50 &c
1,000
1,000
1 000
1,000
100
1,000
1.000 &c
1,000
1,000
1,000
1,000
1,000
1,000
5.000
1.000
V.666
1,000
£100 &c
$500 &c
500 &c
M E X IC A N C E N T R A L R Y . (C o n clu d e d ) —
In 1906, in addition to the $66,880,000 consol. 4s in hands o f public,
some $41,000,000 had been, or were to be, deposited as part collateral for the
$33,000,000 coll. trust notes of 1906. See below.
In June 1906 $33,000,000 o f 5% coll. trust notes were sold maturing
July 1910, part o f an Issue o f $35,000,000, to be used in part to refund the
$29,000,000 coll. trust Issues maturing In 1907 and 1908. The present Issue
will be secured by deposit of $1,200,000 priority 5s, $5,000,000 Mex. Pac.
1st suar. 5s, $2,500,000 Tam pico Harbor 1st guar. 5s, $41,000,000 consol.
4s ami $5,000,000 1st consol. Incomes. The coll. trust issues, each $10,000,000 maturing 1907 and 1908, had the right o f exchange on certain terms.
V. 82. p 1497; V . 83, p. 156.
E A R N IN G S.— Mex. cur. 119 0 6 -07 .-Gross, $28,492,107; net, $8,576,542
July 1 to May 31 (11 m o s.)J1 9 0 5 -0 6 ..Gross, 25,794,867; net, 7,759,422
A N N U A L R E P O R T .— Fiscal year ends June 30. R eport for year ending
June 30 1906 was in V. 83, p. 1465. The gross earnings below are M exican
currency, all other figures United States currency. Mexican dollars averaged
50.05c. In year ending June 30 1906, 48.41c. for fiscal year 1904-05, and
45.13c. in 1903-04.
------------------ Years ending June 30--------------1905-06.
1904-05.
1903-04.
Gross earnings (M exican currency) .$28,376,806 $26,097,699 $26,002,202
Operating expenses________________ 19,810,64a,
17,599,176
19 619,872
Net earnings (Mexican currency) $8,566,161
$8,498,523
$6,382,330
Net earnings (U. S. c u r r e n c y ).. . $4,287,862
$4,118,173
$2,886,846
INCOME ACCOU N T F O R Y E A R E N D IN G JU N E 30
1906.
U . S . Currency.
Net earnings........................$4,287,862
Deduct —
Interest on T am pico Har
Tam p.H arb.Co. rent. a c c t . $161,746
bor Co. b on d s__________
139,325 Interest on b on d s_______ 3,952,582
Net Inc. Coah. & Pac. R R .
19,971 A ccts., & c., charged o f f . .
142,775
Misc. Int. & other in com e.
29,796 Discount on gold notes___
105,465
W ithdraw n from sub. fund 1,000,000 Betterments & Im prov’t s .
695,546
---------------- 1 Total d eductions_______ $5,058,114
T otal a v a ila b le ________$5,476,955 |Balance, surplus for ve a r. $418,841
Chairman o f Board, H. Clay Pierce; T em porary Pres., Eben Richards.
E xecutive Comm ittee: H . Clay Pierce (Chairman of B oard ), A . A . R o b in
son. F. H. Prince, C. D. Sim pson. Eben Richards, E. N . Foss.
Office, 25 Broad S t., N. Y .— (V . 84, p. 1183; V. 85, p. 40.)
MEXICAN IN TERN ATION AL R R .— (See M a p , page 99.)— Operates
Eagle Pass, T ex. (on Southern P a c .), and Ciudad Porfirlo Diaz, via Torreon
on M ex. Cent., to Durango. 540 m ., with branches, 117 m .; Reata to M onte
rey, 72 m .; branch to Tlahualllo, 43 m .: branch, Durango to Tepehuanes
via Santiago Papasqulero, 135 m .; Carbon branch, 4 m .; total, 911 m.
June 30 1906, including Coahuila Coal R y ., Baroteran to Musquiz, 24 m .,
leased for 15 years from May 1 1906. V . 83, p. 1112. Branch, Sabinas,
M ex., to Rosita, 10 miles, was opened Feb. 1907. Organized under laws
of C onnecticut.
In April 1902 control o f the road ($15,786,100 of the stock and all of the
$4,499,000 Income bonds) was taken over b y the National R R . o f M exico
as per plan, V . 73, p. 784. See V . 76, p. 1192.
S T O C K .— A uthorized $25,000,000; Issued Jan. 1907, $20,708,200.
BO N D S.— In 1897 reorganized. Of consol. 4s $2,497,000 were In Jan.
1905 reserved for extensions at $10,000 per mile and im provem ents. The
total Issue o f consols Is limited to $16,000,000. The National R R . of
M exico under agreement o f June 30 1902 has stamped $6,501,000 o f the
consois. as guaranteed, prln. and int., these having been subject to call at
•95 and int. on or before Mch. 1 ’07. V. 75, p. 185. Of the consols, $3,000,000 are deposited as collateral for the Nat. R R . of Mex. 5 % notes. V. 77,
p. 769. Prior lien 4 Vis, see V . 65, p. 151, 1071. C onsol. 4s of 1897 listed
on N . Y . Stock Exchange Feb. 1898. See application in V . 66, p. 341.
D ividend on Incomes, 4 % , was paid for 1902 to 1906 inclusive.
E A R N IN G S .— Mex. cur. 1 1 9 0 6 -0 7 ..Gross, $7,734,334; net, $2,575,901
July 1 to May 31 (11 m os.)J190 5 -0 6..G ross, 6,663,324: net,
2,933,876
c> mos. toToi. rec'ts.
Net rev.
Net.rev.
Oth.inc.
Int.on
Balance,
June 3 0 .(M ex.cur.)
(M ex.cur.) (U .S .cur.)
Inc.
bonds.
surplus.
1906 ..$4 ,0 3 7 ,5 3 3 $1,658,468 $829,234 $16,020 $275,755 $569,499
1905
3,242,482
1,217,047
602,560
16,199
275,755
343,004
Report for the half-year 1905-06 was In V . 83, p. 1092, 1121, 1069.
A N N U A L R E P O R T .— R eport for year ending D ec. 31 1905 was given at
length in V . 82, p. 800, 814; see also editorial, p. 779.
In 1905 gross on
average o f 884 miles, $6,519,162 (M exican cu rrency); net, $2,663,485; In
U. S. m oney, net, Including other incom e, $1,352,784; Int. on bonds, $551,10; miscellaneous (net) Items, $16,452; Interest on incom es, $179,960;
<<alance, surplus, $604,862. Pres., E. N . Brown. New York office, 60 W all
S t.— (V. 81 p. 1792; V. 82, p. 1497; V. 83, p . 1092, 1121.)
MEXICAN NATIONAL R R .— See National R R . o f M exico.
MEXICAN NORTHERN R Y .— Owns from Escalon, M exico, on the Mexi
can Central R y ., to Sierra M ojada, 83 miles, all steel.
ST O C K .— Capital stock Is $3,000,000; par of shares, $T00; see application
jor listing on N. Y . Stock Exchange In full, V . 64, p. 619.
D IV ID E N D S . 1 ’ 92
’ 93
’ 94
’95
’ 99
’00
’0 1 . ’02
’ 03 N one
P e r c e n t . . . ) 6Vi SVi
6
4 yearly.
5
4Vi
2
lVi Since.
B O N D S.— Mtge. $1,660,000, o f which $786,000 In s. f. D ec. 31 1906.
R E P O R T .— For year ending Dec. 31, U. S. currency:
Year—
Gross.
Net.
Oth. inc.
Charges.
Surplus.
1906
$328,816
$210,505
$46,503
$116,040
$140,968
1905 . . . .......... 352 799
230,712
42,705
119,516
153,901
— (V. 72, p. 581, 1011- V . 74, p. 1089; V . 77, p. 2098; V. 83, p . 1344.)
M EXICAN R Y .— MEXICAN SOUTHERN R Y .— See page 179.
MICHIGAN CEN TRAL R R .— (See M aps New York. Central & Hudson
R iver.)— L IN E OF R O A D .— Main line— K ensington to D etroit, 270 m .,
and W indsor to Suspension Bridge (Canada Southern), 226 m .; total main
line 496 miles. Branches owned and leased, 1,235 m .; trackage (111. Cent.)
$122,000
175.000
200,000!
2,500,000'
1,500,000!
l,000,000i
274.000
60,000,000i
10,818,000i
1,000,000
28.065.000
1,100,000
500.000
2,000,000;
202,450
897.000
900 000 4
200.000
12,000,000
800,000
200,000
250.000
262.000
See text.
66.880.000
20,569,700
11,282,000
327,200
4.652.000
30,290,000
4,092,893
500.000
650.000
5.850.000
705,500
6.501.000
4.499.000
b$340,000
|V o l .
IN T E R E S T OR D IV ID E N D S .
Rate
%
5
4
4 Vi
3Vi g
5
10
4
7
6 g
5
4 g
5 g
5
5g
5
4g
In 1903
5 g
4
6
5
4
(7)
5
4
3
3
3
5
5
g
g
4
g
g
g
g
g
5 g
5 g
When
Payable.
Where Payable, and by
Whom.
lxxxv.
Bonds— P rinci
pal. When D u e
Stocks— Last
Dividend.
J Treasurer’s Office,Portl’d July 1907 2H %
S 2d Nat Bk, Bost & Port Sept 1 1917
N Office, Rockland Me. May 1907 2 X %
J Treas Office, Portland,M e Jan 1 1954
June 1 1911
M & N Manchester and Boston May 1 1907 5 %
J &
J Boston & Me R R , Boston Jan 1 1922
21 Park R ow ,N ew York July 1 ’07 1 H %
Q— J
J &
J Mercantile Trust Co, N Y July 1 1908
do
do
Mar 1 1916
M &
S
do
do
April 1 1990
A. & O
M & N May 1903 coupon last pd May 1 195?
A &
O See text.
Oct 1 1909>
F & A Treasurer’s Office, Phlla Feb 1 1955M &
S First Nat Bk, Y ork , Pa. Aprll 1 1932:
M &
S Brown Bros, N Y ; 4 Balt Mar 1 1951
A & O
do
do
April 1 1951
M & N Alex Brown & Sons, Balt |May 1 1936J & D Blair & Co, New York [June 1 1955
F & A S D & T r Co, Boston [Aug 1 1907 3 %
J &
J Merch Nat B k, M eadv.Pa July 1 1921
M &
N New York
May 1 1955
J &
J Safe Dep & Tr Co,B oston July 1 1911
Uuly 1 1939
J &
J
J &
J Safe Dep & T rC o , Boston July 1 1911
Jan 10 1939
July 10 None jrnld.
Jan 10 1939lju ly 1 1911
July
1
do
J &
J C o.’s O ff,25 Broad St,N Y Sept 1 1908J u ly 1 1910
J &
J
J
M
M
J
A
A
&
&
&
&
&
&
4 Vi g M &
4 g
M &
4 g
M &
In 1906 Sept
6 g iF &
O
O
S
S
S
1
A
Old Col Tr Co, Bost& Lon April 1 1917
1919
do
do
Oct
1947
Speyer Bros, London
Sept
1977
Speyer & Co, New York Sept
1977
do
do
Sept
1977
Owned by Nat R R of Mx Sept
1919
Morton Trust Co, N Y
(Aug
Into Chicago under perpetual lease, 14 m .; tota l, Jan. 1 1907, 1,745 miles
There a re"512 m. of second track and 1,216 m. o f side tracks.
Owns $3,000,000 of the $20,000,000 stock of Chicago Indiana & South
ern, which see. In Dec. 1907 the Chicago K alam azoo & Saginaw R y . ,
Pavilion to W ood bu ry, M ich., 55 m iles, was acquired In the interest of th e
com pany, but will be operated Independently. V . 84, p. 50. F or co n tr a c t
with Canada Southern see that com pany.
In July 1906 the Michigan Central was building a third-rail electric tunnef
road under the D etroit R iver from W indsor O n t., to D etroit, M ich ., 2.42 m.
long, under the charter of the Detroit R iver Tunnel C o., which is leased fo r
999 vears from Jan. 1 1907. See BON DS below . V . 80, p. 2343; V . 8 2 .
p. 1156; V . 84, p. 339, 1052.
O R G A N IZ A T IO N , C O N T R O L .— Re-Incorporated under <?-ener«' law
In D ec. 1901, V . 73, p . 1208. The N . Y . C. & H . R . R R . Co. In April 1898
gave $115 In Its ZVi % 100-year gold bonds for $100 stock , and 60 holds
$16,814,300 o f the $18,738,000 stock Issued.
D IV ID E N D S .! '83 ’84 ’ 85-86 ’87-89 ’90 '91 '92-94 ’95 to Jly ’ 0 6 1907
P e rc e n t— / 5 3
nil. 4 y ’rly. 5 5 5 K y ’rly . 4 y ’rly .
6
In Jan. 1907, 3 % (sem l-an.).
B O N D S.— Battle Creek & Sturgis bonds for $500,000, but of this $79,000
was sub-guaranteed b y the Lake Shore <5s Mich. S o ., 7 miles o f the B. C. & S .
being operated b y that com p any. The $1,740,000 3 ^ s o f 1901 are a 1st
m tge. on the Jackson Lansing & Saginaw R R .. 350 miles (V . 73, p. 1061;
V . 76, p. 1027). Of the $18,000,000 3 ^ s o f 1902, $10,000,000 were sold
to retire first 5s and 7s, $4,000,000 additional being sold: $5,000,000 re
served for additions. &c. V . 74, p. 728; V . 76. p. 102, V. S3 p. 1 2 :9 .
In June 1907 $1,500,000 first 4s on Joliet & N orthern Indiana (author
ized issue $3,000,000) were sold. V . 84, p. 1367, 1428.
Toledo Canada South. & Detroit guar. 4s of 1906, see V. 82, p. 930.
The Detroit R iver Tunnel b on d s. authorized Issue $15,000,00 0 (see above)
bearing Interest at not exceeding 5 % , will be guaranteed b y the M ich. Cent
V . 82, p. 868 1156.
G E N E R A L F IN A N C E S .— Tn Jan. 1907 dividend rate was raised from
4 % to 6 % yearly; V . 83, p. 1411. In Jan. 1907 $10,000,000 3-year 5 %
notes were sold; V . 84, p. 271.
E A R N IN G S .— F or 6 m os. ending June 30, gross, $13,833,980 in 1907
against $12,619,143 in 1906.
A N N U A L R E P O R T .— R eport for 1906 was In V . 84, p. 864, 874.
Year ending D ec. 31—
1906.
1905.
1904.
1903.
Gross e a rn in g s................ $26,275,588 $23,283,868 $21,492,945 $22,552,201
Operating expenses____ 21,730,264 18,865,916 17,041,014 17,973,470
N et earnings_________$4,545,324
N et, Incl. other in com e. $4,947,328
R entals p a id _________ .. .
566,310
Interest on d e b t________
2,073,850
T a x e s ....... ............... ........
1,001,741
Interest on loans, & c—
317,599
D iv id e n d s ......................... (5)936,900
$4,417,952
$4,733,764
561,202
2,015,320
962,002
221.785
(4)749,500
$4,451,930
$4,515,401
541,310
1,989,663
1,111,653
$ 4,578,730
$4,633,662
521,398
1,978,642
888,851
(4)749,520
(4)749,520
S u r p lu s .........................
$50,928
$223,934
$123,255
$495,253.
Pres., W m . H. Newman, N. Y .— (V. 84, p. 1367, 1428, 1551.)
M ID D LE TO W N U N IO N VILLE & W A T E R GAP R R .— (See M a p Erie
RR. C o.) — Owns from M iddletow n, N. Y ., to U nionvllle, N . Y . p 13.65 miles.
S tock , $149,850; par, $50. C ontrolled, through s to c k .b y N. Y . Susq. &
W est., which pays int. on bonds. In year ending June 30 1906, gross, $ 68 ,250; net, $25,670; charges, $22,207; sur., $3,463. — (V . 64, p. 664.)
M ID LAN D V A L L E Y R R .— Owns and operates from E xcelsior. A rk .,
south to H oye, A rk ., and north to F id elity, A rk ., also from Excelsior west
to Sllverdale, K a n ., a total o f 293 m .; also operates under trackage from
M aney J et., A rk ., to F t. Sm ith, 16 m ., and Sllverdale to Arkansas C ity,
K a n ., 9 m .; total operated, 318 miles. See V .7 8 , p. 702, 1109; V .8 0 , p .2345.
The Cherokee Construe. C o ., with $3,500,000 stock, issued $5,000,000
3-year 6 % gold notes due D e c . 1 1907. which are secured b y all the stock
and bonds o f the Mid. V al. and m tge. on 18,500 acres of coal lands: they a re
redeem able at 102)4. V . 81, p. 1610. The tonnage from 30,000 additional
acres Is controlled.
Stock authorized, $9,000,000; outstanding, N ov. 1906, $5,854,000; par
of shares, $50. Bonds are subject to call at 107 Vi to and Including Jan. 1
1910. For year ending June 30 1906 (261 average m iles), gross, $527.7^9;
net, $22,155. P res., Charles E. Ingersoll; Sec. and T reas., H. E . Yarnall.
Office, Girard Trust B ld g ., Philadelphia.— (V . 81, p . 1610.)
M ILL C RE E K & MINE H ILL NAVIGATION & R R .— Mill Creek Jet. to
Broad M tn., P a ., 6.3 m .; branch, 3.5 m .; 2d track, 3.8 m .; total track, 34.C
miles. Leased in 1861 for 999 years to Phlla. & Reading R R .; lease as
sumed In 1896 b y Phlla. & R eading Railway; rental, $33,000 and taxes.
MILLEN & SOUTHW ESTERN R Y .— Owns Millen, G a., to V idalia, 53
m iles. T o be consolidated with the new Georgia & Florida R y ., which see.
V . 82, p. 751, 1212.
Stock June 30 1905, $39,000. As to the 1st 5s, see V . 80, p. 1424. T here
were also S83.000 6% incom e debentures (SI ,000 e a ch ), dated Sent. 14 i<>n.-,.
due 1915. In year ending June 30 1906, gross, $88,349; net, $25,061.
Pres., John Skelton W illiam s, R ichm ond, V a .— (V . 82, p. 1212.)
MINE H ILL & S C H U Y L K IL L HAVEN R R .— F rom Schuylkill Haven to
Ashland and Enterprise J et., 42 m.;*2d track, 19 m .; total track, 134 miles.
In 1897 rental reduced to 6 % on stock under new lease for 999 years from
Jan. 1 1897 to Phlla. & R ead. R y . Co. Dividends paid stockholders are
2 Vi K In Jan. and 3 % in July, Vi % being deducted for taxes.— (V .63,p .1015
M IN ERAL BELT R Y .— V . 83, p. 1229.
M IN ERAL RANGE R R .— H oughton, M ich., to Calum et, M ich ., 14 m .;
H ancock to M ohaw k, 21 m .; branches, 31 m ., South R ange extension,K e*
weenaw Bay to Michigan Mine, 39 m ., opened Dec. 24 1900; trackage, 22 m .;
M ohawk R R . operates 17 m .; tota l. 144 miles, all standard gauge. On
June 1 1901 the H ancock & Calumet R R . was merged (V. 73. p. 785). I »
year 1895 paid dividends 1 0 ^ % : in 1»96 - 7 %• 1897, 7 % ; 1898. 3 v$ %;
none since. A uth. stock, $1,200,000; outstanding, $1,085,000; par, $100.
B O N D S .— Consols for $7,000 are reserved for $11,100 old bonds. O f th e
89
RAILWAY STOCKS AND BONDS
J u l y . 1907.]
RAILWAY STOCKS AND BONDS.
90
R A IL R O A D S .
F or explanation of column headings, & c ., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
Mexican National— See National R R o f Mexico.
Mex Nor— 1st M D S gold s f not called____ Mo.c*&r
83 1890
Mexican Railway Limited— Ordinary sh ares._______
First preference stock 8 % _______________________ _
Second preference stock 6 % ________________________
Perpetual 6% debenture s tock ______________________
321
Mexican So Ry Ltd— Ordinary shares £ 1,000,000____
Second M 4 % deb stock £600,000 red a t par 90 years
228 1896
Michigan Central— S tock _____________________________
First m ortgage $18,000,000 g o ld ___________ a .c*& r
270 1902
115 1890
M C Michigan Air Line first m ortg a g e ____ Un.c&r
152 1881
M C 1st M on Det & B ay City ($4,000,000)___Un.c
do
do
bonds without cou pon s____ r
152 1881
84 ’7 9 -’86
M C first m ortgage on Grand R iver Valley R R .U n .c*
M C first m ortgage on Kalum azoo & S H aven_Un.r
39 1889
M C 1st M Term $1,500,000 V 64, p 8 86)............c&r
1896
350 1901
Mich Cent 1st M on Jack Lans & Saginaw gold .c*& r
45 1907
M C 1st M on Jol & Nor Ind $3,000,000 g o ld _______
1904
Car trusts (reg part ctfs) guar Amer C & F . . SSt
Notes $10,000,000 g o '.d ______________________ c& r
1907
Jack Lans & Sag stock
% yearly guar b y e n d ..
Grand R iver Valley stock rental in perpetuity_____
1889
B ay City & Battle Cr 1st M g guar p & f end__M p.c*
Battle Cr & Sturgis 1st M g guar p & 1 e n d ..M p .c *
1889
1906
T olC anSo& D etlstM $4,500,000 g gu p& i(end) Gc’ &r
1906
D etroit R iver Tunnel 1st M $15,000,000 guar____ O
Middletown Union & W ater Gap— 1st M ext in ’8 6 ..c*
1866
1871
Second m ortgage int guar ext in 1896 (see text) _ .c *
1904
Mid Val— 1st M $20,000 p m gold red (text) - - GP.c*
Mill Creek & Mine Hill Navigation & RR— S tock ____
Millen & Southwestern— First M $800,000 gold ____ K
53 1905
Milwaukee Lake Shore & W estern— See Chicago & North W este
Milwaukee & Lake W innebago— See W isconsin Centra)
Milwaukee & Northern— See Chicago Milwaukee & St Paul
Mine Hill & Schuylkill Haven— Stock (6 % rental)____
42
Mineral Range— Cons m ortgage (text) gold red at 105.c
66 1891
66 1901
General m ortgage Interest guar b y Canadian P a c. . F
H ancock & Cal cons M gold red at 105 a ssu m ed .,
20 1891
a Exclusive o f $816,000 held b y sinking fund, b $1 0.000 additio
Size, or
Amount
Par
Value. Outstanding
1,000
£10
£10
£10
£10
100
1.000 &c
1.000 &c
1,000
1.000 &c
1,000
1.000 &c
1.000 &c
1,000
1.000 &c
100
100
1,000
1,000
1.000 &c
” 100 "Si
500 &c
1,000
25
1,000
T otal net Incom e............$1,677,200
Interest p a id .......................$1,095,932
R e n t a ls _________________
66,522
Net earns D . M. & Ft. D .
98,716
M iscellaneous.........................................
D iv . on pref. stock ............(5)200,000
D iv . on com . stock ______
______
$3,076,756
$1,130,381
236,075
$2,850,565
$1,049,263
275,248
$3,265,472
$1,237,530
217,415
$1,366,456 $1,324,511 $1,454,945
$1,020,376 $931,447
$886,980
61,737
56,045
56,050
______
______
______
26,848 38,942
.......................
(5)200,000 (5)200,000
(5)200,000
______ (2 ^ )1 5 0 ,0 0 0
(5)300,000
Balance, surp. for year. $216,030
$57,495 def.$52,922
$11,915
O F F IC E R S .— Pres.. Edwin H aw ley, N. Y .; V .-P ., L . F. D ay; S ec., Jos.
Gaskell, Minneapolis; Treas., F. H . D avis, 25 Broad S t., New Y ork.
Directors— E. H awley, H. E. H untington, James N. W allace, F. E.
Palm er, F. H. Davis, John E. Searles, Frank Trum bull, New Y ork; L. C.
W eir, N . Y .; L. F. D ay, M inneapolis.— (V . 83, p. 1091, 1113.)
M IN N EAPOLIS ST. PA U L & SAULT STE. M ARIE R Y .— Owns main
line from Sault Ste. Marie. "Uich., via Minneapolis to Portal, North Dakota,
at the nternational b ov u d a iy line, there connecting with the Canadian P a c .,
1,039 miles; branches, Hankinson, N. D ., to Garrison, 292 m .; Glenw ood,
M inn., to Emerson, 265 miles: Thief R iver Falls, M inn., to K enm are, N. D .,
296 miles: W lshek, N . D ., to P ollock, 70 m .; other branches, 154 m .; spurs,
19 m .: tota l, July 1906, 2,135 miles; also trackage to Minneapolis. St. Paul
(being replaced b y line ow ned, V . 83, p. 38) and Sault Ste Marie, 19 miles.
In N ov. 1904 extension from Glenw ood, M inn., north to W innipeg, 330
miles. Included above, was com pleted. V . 77, p. 765. In D ec. 1905 branch
T hief R iver Fails, M inn., to Kenm are, N . D ., 296 m .; was opened. E xten
sions from F laxton, N . D ., westerly to A m brose, 51 miles; from Drake,
N . D ., to Plaza, 84 m .: and o f the Garrison line to M ax, 14 m ..w e r e co m
pleted late In 1906. V . 83. p. 750. In Mch. 1907 contract was let for e x
tension from main line near Glenw ood, M inn., northeast to D uluth, about
200 miles. V . 84, p. 693.
H IS T O R Y .— A consolidation In 1888 o f Minn. Sault Ste. Marie & A tl.,
Minn. & P a c.. &c
See V . 46, p. 538. 609; V . 77. p. 628.
ST O C K .— Canadian Pacific on July 1 1906 owned $7,066,600 commoD
and $3,533,400 preferred. Preferred stock has a prior right to 7 % (non-
1.500.000
700.000
725.000
1.740.000
1.500.000
1,096.200
10.000.000
2,000.000
491,200
250.000
421.000
3.100.000
N ’ neM ar’07
150.000
250.000
5.854.000
323,375
210.000
IN T E R E S T OR D IV ID E N D S .
Rate
%
When | Where Payable, and by
Payable.
Whom.
lxxxy.
Bonds— p rin ci
pal, When D u e.
Stocks— Last
Dividend.
6g
J & D Office, 82 Beaver St, N Y Dec 1 1910
- 17i-ie In’06 M & N Glyn,Mills.Currle&Co.,Lo|May 17 ’07 4 %
See text. See text.
do
do
M a y l7 ’07 115-16
Perpetual
6
J
& J
May 9 1907 3 %
See text. See text. Checks mailed.
4
F & A
6 in 1907 J & J Grand Cent Station, N Y July 29 1907 3 %
g M & N Reg at G C S; cp at G T May 1 1952
4
J & J Reg at G C S; cp at U Tr Jan 1 1940
M & S Union Trust Co, New Y k Mar 1 1931
Q— M Grand Cent Station, N Y Mar 1 1931
{ 5
6
M & S Union Trust Co, N Y
Sept 1 1909
5
M & N Grand Cent Station, N Y N ov 1 1939
J & J Reg at G C S; cp at U Tr July 1 1941
4 g
3M g M & S Reg at G C S; cp at G Tr Sept 1 1951
J & J10
4 g
July 10 1957
T o ju n e 1 1910
4 « g Q— M |
5
F & A Grand Cent S tation, N Y Feb 1 1910
AH
M & S Grand Cent Station, N Y Mar 1 ’07 1 *A %
J & J Jackson, Mich.
July 1907 Z H %
5
J
& D Union Trust C o . N Y
3 g
Dec 1 1989
do
do
Dec 1 1989
J
& D
3g
J & J Grand Cent S tation, N Y Jan 1 1956
4 g
v - ;- - - - - - - - - - - - - - :
v, v.
N lNew Y ork Susq & W .N Y N ov 1 1911
5 g
5
D
do
do
June 1 1910
Jan 1 1954
5 g
JI Office, Philadelphia.
10
July 1907 5 %
J Philadelphia
5 e
April 1 1955
50; 4,210,200
5H
& J
500 &c
593,000 4 g-5 g |j & J
100,000
1,000,000
4 g
J
& J
1,0001
325,000
5 g
J
& J
nal In sin king fund, c O f w hic h $16.81
$593,000 outstanding, $339,000 are 5s; the Can. Pac. on June 30 1906 owned
the rem aining $254,000 (which are 4s), and the $1,000,000 gen. m tge. 4s
b oth o f which It guarantees as to int. V . 75. p . 554. See V . 73, p. 556, 616;
V . 73. o . 785. O f tonnage in 1905-06 84 % was ores and mining products.
E A R N IN G S .— For 11 m onths ending May 31;
11 months—
Gross.
N et.
Other inc.
Charges.
B al., sur.
1906-07
$719,471
$155,506
$949
$116,187
$40,268
153,683
2,114
136,758
19,039
1905-06 _________ 681,618
R E P O R T .— For year 1905-06, gross, $739,341; net, $163,261 other in
com e. $2,253;taxes, $62,730; Int.. $83,360; sur., $19,423.— (V . 73, p. 785.)
MINNEAPOLIS & ST. LOUIS R R .— (See M a p .)— Owns main line Min
neapolis to Angus, la ., 260 miles; Western D iv ., Hopkins to W atertow n,
S. D ., 215 miles; Kalo Branch, 1H m .; Lake Park Branch, 1H m .; W lnthrop, Minn., to Storm Lake, Minn., 154 m . Leases trackage from Minne
apolis to St. Paul over St. Paul & North. Pac. R R ., 10 m .; from Spencer to
R uthven over Ch. M. & St. P ., 1 2 m .; from Tara to Fort D odge, over 111.
Cent., 6 m .; leases Des Moines & Fort D odge R R ., Des Moines to Fort D odge
and Tara to R uthven, 138)^ m .; total operated, 799 miles. Also owns, but
leases to Bur. C. R . & N or., Albert Lea to Iow a State Line, 13 m.
The Minnesota D akota & Pacific R y ., Incorporated in Jan. 1906 with
$200,000 authorized stock. Is building extension from W atertown, S. D.
west to Missouri River at Le Beau, S. D ., 172 miles, and branch from Conde
northwest to Leola, S. D ., 57 miles.
H IS T O R Y .— A reorganization In Oct. 1894, per plan In V . 59, p. 371, o f
Railway foreclosed under Improvement and equipment mtge.
In June 1900 persons Identified with Minn. '& St. L. obtained control o f
the Iowa Central R y .; V . 70, p. 1249. The Des Moines & Fort D odge R R .,
control o f which was acquired In 1904, Is leased for 30 years from Jan. 1 1905.
V . 78. p. 2335; V . 79. p. 269. 1704; V . 81, p. 1430.
S T O C K .— C om m on, $6,000,000; p ref., 5 % non-cum ., $4,000,000. A fter
5 % on each, they share pro rata.
D IV S .—
1 ’96. ’97. ’98. ’99. ’00. ’01. ’ 02. ’03. ’ 04. ’ 05. ’ 06.
1907.
Preferred . . %\ 3
3 3H 4 H
5
5
5
5
5
5
5
5
C o m m o n ... % )--------- None----------- 1H
4
5
5
2H 0
0
0
B O N D S, & c.— Bonds Issued under the m tge. due June 1927 numbered
from 1,101 to 1,400, for $500 each, additional to those above, were assumed
b y Burl. Cedar R ap . & N orth, (now Ch. R ock I & P a c.).
As to first consol, m tge., see abstract V . 59, p. 1145.
The refunding
m tge. o f 1899 limits the first consols to $5,155,000.
First refunding m tge. o f 1899 is for $25,000,000, o f which $10,000,000 re
served to retire underlying bonds and $5,341,000 for future extensions, Im
provem ents, & c., under severe restrictions. The m tge. Is a first lien on 283
miles o f road, & c., and a blanket lien on rest o f p roperty, and is further se
cured b y deposit o f $2,530,000 Des Moines & F t. Dodge com . stock. V . 68,
p. 187, 332; V . 79, p. 2147: V . 80, p. 2220. See application to list. V . 6 9 ,
p. 32. Equip, tr. notes, $9,414, payable $4,707 m onthly to Sept. 19 1907.
The $5,000,000 5 % notes o f 1906, the proceeds o f which will be used for
the construction o f about 230 miles o f road from W atertow n, S. D., westerly.
They will be secured b y the $6,250,000 Minn. Dakota & Pacific 1st gold 4s
and the latter’s entire stock. V . 82, p. 392, 692, 1102; V . 83, p. 38, 1114.
The $3,072,000 Des Moines & Ft. D odge 4 % bonds dated Jan. 1 1905
are guaranteed, principal and Interest. V . 79, p. 1704, 2696.
E A R N IN G S .— 11 m os.,]1 90 6 -0 7____ Gross. $3,521,540; net, $1.168,640
Ju ly 1 to May 31. 11905-06____Gross, 3,399,992; net, 1,279,029
A N N U A L R E P O R T .— Annual m eeting first Tuesday in O ctober. R e
port for 1905-06 was in V . 83, p. 1091, 1113.
Year ending June 30— 1905-06.
1904-05.
1903-04.
1902-03.
799
720
642
642
A ver, miles op erated____
Passengers..........................$1,001,548
$897,311
$825,830
$901,939
F reight............. ................... 2,550,563
2,021,993
1,878,078
2,224,520
Mall, express, & c............
174,554
157,452
146,677
139,013
Gross earnings................ $3,726,665
N e to v e r ta x e s .................... $1,417,468
Other I n co m e .....................
259,732
a$844,000
£2,254,720
£2,554,100
£1,011,960
£2,000 000
£1,000,000
£586,524
Cl8,738,000
14.000.000
2,600,000
} 4,000,000
[V o l.
Office, 119 S 4th St, Phila J u ly 1 5 ’ 07 3 %
44 W all S t, New Y ork
jja n 1 1931
All owned b y Can P ac |jan 1 1 9 5 1
44 W all S t, New Y ork
|jan 1 1931
4.300 held b y N Y C & h Ir R R Co.
cu m .); then com m on to 7 % ; then share pro rata. V . 75, p. 549. S tock
holders will vote on Sept. 17 1907 on increasing the authorized stock from
$14,000,000 to $28,000,000 com m on and from $7,000,000 to $14,000,000
preferred. A bou t $4,000,000 o f the new stock, it is exp ected , will be offered
shortly to stockholders at par. V . 85, p. 160.
D IV ID E N D S ....... ...............1 9 0 3 .
1904.
1905.
1906.
1907.
Preferred (per ce n t)_________ 7
7
7
7
A pril, 3 H
Comm on (per ce n t)__________
2
4
4
4
A pril, 2
B O N D S.— Can. P ac. guarantees b y endorsement 4 % Int. on all the bonds
assenting to a reduction o f Int. to t %. (See V . 50, p. 784; V . 51, p. 239.)
A bou t one-half Minn. & Pac. bonds and practically all other Issues assented.
A bstract o f M inneapolis Sault Ste. M arie & Atlantic m tge. In V . 45, p.
243. The consol, mortgage of 1888, abstract V . 47, p. 142), was for $21,000,000 on 800 miles (sufficient o f this reserved to retire prior bonds) and for
$20,000 per mile on all additions. V . 73, p. 185; V . 78, p. 820; V . 79, p.
1332: V . 80, p. 651. As to 2d 4s, see V . 68. p. 669. 771, 977; V . 71. p. 645.
L A T E S T E A R N IN G S .— J 1 90 6 -0 7..G ross, $11,732,286; net, $5,017,755
11 m os., J u ly 1 to May 3 1.11905-06..G ross, 10,558,762; net, 5 ,364,36»
R E P O R T .— R eport for year ending June 30 1906 was in V . 83, p. 749.
Year.
Gross.
Net.
Int.,taxes,& c.E quip., ifee B al., sur.
1 905-06..............$11,574,462 $5,789,902 $2,522,216 $1,050,000 $2,217,686
1904-05.............. 8,716,622 4,214,015 2,150,599
386,550 1,676.866
Dividends o f 7% on preferred call for $484,687 yearly and o f 4 % on com
m on $554,012 yea rly .— (V. 83, p. 749; V . 84, p. 51, 693; V . 85, p. 160.)
M I N N E S O T A T R A N S F E R R Y . — Union road, owning 13.54 miles, e x
tending from Junction with Chic. Mil. & St. Paul at Merrlam Park to Frid
ley (with stock yards, & c.); side tracks, 45.72 miles; tota l, 59.26 miles. V .
67, p. 956. S tock, $70,000, equally owned b y Chic. Mllw. & St. Paul, N or.
P a c., Chic. St. Paul Minn. & Om aha, Minn. & St. Louis, W isconsin C en t.,
Chic. Burl. & Q uincy, Great N orth., Chic. Gt. W e st., Minn. St. Paul &
Sault Ste. Marie and Chic. R ock Island & Pacific.
Additional bonds can be Issued for property and Im provem ents as re
quired. Principal only Is payable In gold. Mtge. trustee, N orthwestern
Trust C o., St. Paul, Minn.— (V . 66. p. 1238; V . 67. p. 956.)
M I S S I S S I P P I A R K A N S A S & W E S T E R N R Y . — Owns from a point In
Drew C ounty, A rk ., to Gaines Landing, on the Mississippi R iver in C hicot
County, A rk ., 22 miles. Stock authorized, $220,000. Year ending June 30
1904, gross, $25,389; net, $15,529; Int. on bonds. $11,000. P res., A . P.
Bliss, Saginaw, Mich.; Sec. and Gen. M gr., A . F. C ook, Little R ock A rk.—
(V . 75, p. 442.)
M I S S I S S I P P I C E N T R A L R R . — Owns H attiesburg, Miss., to B rookhaven, 84 miles, o f which Silver Creek to B rookhaven 29 m ., opened
June 1906. V . 81, p. 155. Extension building from Hattiesburg to Scran
ton , 80 m. The N atchez & Eastern R y ., con trolled b y the same Interests.
Is building from N atchez, Miss., to Brookhaven, 66 miles. V . 85, p. 99,160.
Stock, $1,500,000.
Bonds (limited to $5,000,000) are issuable at $20,000 per m .; they are sub
je ct to call in the order o f numbers at par b y a yearly sinking fund of $500
per mile o f road covered , and as an entire Issue at 110. T hey are guaranteed
principal and Interest b y U . S. Lum ber Co. V . 81, p. 1849; V . 82, p . 161
1046. For 4 mos. ending April 30 1906, gross, $151,162; net, $77,721;
taxes, $1,604; betterm ents, $4,486; bal. for Int., $71,231. For calendar
year 1905, gross, $390,435; net, $191,265; taxes, $4,729; betterm ent*
$21,459; bal. for Int., $165,077. Pres., F . L . Peck: Sec. and Treas.
C. P. Davidson, Scranton, P a.— (V. 83, p. 1229; V . 84, p. 1367.)
M I S S O U R I & I L L I N O I S B R I D G E & B E L T R R . — Has bridge 2,100 feet
long across the Mississippi R iver at A lton , 111.; also 2 miles o f road. Owned
b y 10 o f the 14 proprietary roads o f the Terminal R R . Association o f St.
Louis, v iz.: Cleve. Cine. Chic. * St. L . .L ou isville & N ashville, St. L . Iron
Mtn. & S ou th ., Balt. & Ohio, Missouri P a c., W abash, Chic. R o ck Island &
P a c., St. L . & San Fran., Mo. Kan. & T ex. and St. L . Vandalia & Terre
Haute (Penn. R R . system ). Incorporated in A ug. 1904 as successor o f the
S t. Clair Madison & St. Louis Belt R R . V . 79, p. 1642, 681. S tock, $2,500 000; outstanding, $110,000. The Illinois State Trust Co. o f East St. Loul*
and Edwards W hitaker are trustees under the m ortgage o f 1904. V . 80, p.
711. Pres., A . J. Davidson; T reas., F . H . Ham ilton; S ec., G. L. Ball.
Office, Lincoln Trust Building, St. Louis.— (V . 80 p. 711; V . 82, p . 1380.)
M I S S O U R I K A N S A S & T E X A S R Y . — R O A D . — Operates a line with
northern termini at St. Louis, Kansas C ity, Junction City and Hannibal
M o., extending southerly across the Indian Territory and the Texas cotton
belt to tidewater at Galveston, on the Gulf o f M exico, and to San A n ton io,
T e x ., and Shreveport, L a ., with branches.
Road
~
‘ owned—
M iles.
Operated— not owned.
M iles.
Missouri Kan. & T ex. R y .
W ichita Falls R y ............................. c l 8
St. Louis to R ed R iver, T e x ___629 Denison Bonham & N . O. R R . . . 0 2 4
H annibal to Franklin J e t_____ 104 Dal. Cleb. & Southwestern___. . . a l O
Branches to Paola and Parsons,
D ew ey, I. T ., to Bartlesville_____
4
K an.; Oklahom a C ity and
A ustin, T e x ., term inals______ ___
2
Guthrie, O. T ., and W ybark
Operated jointly.
and A toka , I. T ., & c________921 St. Louts to Texas J u n c t i o n . . . . . 24
M o. Kan. & T . R y . o f Texas—
Kansas City to P aola____________ 4S
Red River to H ouston, T e x — 548 W hltesboro to Ft. W o r t h . . . ____ 71
Denison to H enrietta__________ 112 Iola to PIqua, Kansas----------------7
Other branches________________ 476 Galveston H ouston & H end------ a50
Austin to San M arcos------------------- 30
T otal operated July 1 1 9 0 6 ..3 ,0 7 3
(a See this com pany.)
O R G A N IZ A T IO N & c.— R eorg. In 1890 w ithout foreclosure. V . 49,p.719.
The $12,890,000 stock o f the “ M. K . & T . Railway Co. o f Texas” is owned
(V . 54, p. 1047; V . 55. p. 298). M. K . & Eastern was merged in 1897, K . C.
& P ac. In 1899, Sher. Sh. & So. In 1901 and Mo. Kan. & Okla. R R . and
T exas & Okla. R R . In 1904. V . 74, p. 1038. 1140; V . 75, p. 608, 1086; V . 76,
p. 489, 1249; V . 78, p . 2012. New cu t-off to San A ntonio opened July
1906. V . 83. p. 96.
L A N D G R A N T .— Land grant In Indian Territory, 3,110,400 acres, sub
ject to Indian title. See V . 79, p. 903. 1281; V . 81, p. 668, 1042; com pare
V . 67, p. 222; V . 55, p. 937; V . 61, p. 1155: V . 77, p. 2339; V . 82, p. 1102;
V . 84, p. 508. 1248.
S T O C K .— Comm on Increased In 1904 b y $7,200,000 to $63,300,300;
preferred Is $13,000,000 4 % non-cum ulative. Par o f shares, $100.
T otal o w n e d ________________ 2,790
91
RAILWAY STOCKS AND BONDS. ■
J u ly , 1907.]
92
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F o r explanation of column headings, & c ., see notes
on first page of tables.
M iles Date Size, or
Am ount
Par
of
of
Road. Bonds. Value. Outstanding
Minneapolis & St Louis— Comm on stock _________Ce
Preferred stock (V 70, v 1150) 5 % non -cum ____Ce
First M Merriam Junction to Albert Lea g o ld .F .c*
81 1877
Iow a exten 1st M gold (A lb. Lea to Ft D odge)g_C e.c*
102 1879
M ortgage on Southw exten gold ($12,000 p m )_Ce.c*
53 1880
Pacific extension first m ortgage g o ld _________Ce.c*
92 1881
First consolidated M $5,282,000 gold ______ Ce.c*& r
1894
First & ref M $25,000,000 gold ($18,000 p m )..C e
632 1899
___ 1906
Gold notes $5,000,000 sec b y coil rBd par beg '08.C e
___ 1906
Minn Dak & Pac 1st M $50 000,000 g r e d 105.Ce.c*&r
Minn St Paul & S Ste Marie— Com stock $28,000,000
Pref stock 7 % non-cum , to be $14,000,000
495 1886
Minn Sault Ste Marie & A tlantic 1st M g o ld ..C e .c *
Minneapolis & Pacific first m ortgage_________Ce c*
286 1886
Cons m ortgage gold lnt guar (end) see t e x t ___Ce.c* 2,266 1888
Second m ortgage $5,000,000 gold lnt guaranteed.Ce 2,266 1899
Car trusts June 1907- _____
MinnesotaTransfer— First m ortgage($574,000 are 4s) .c
. . . 1886
1906
Missouri & North Arkansas— N otes, $6,000,000 g o l d ..
Mississippi Arkansas & W estern— 1st M g o ld ____ AC
_22 1902
Miss Cent— 1st M $5,000,000 gold guar red (te x t).S .c*
84 1905
Mo & 111 Br & Belt— St C M & St L B .ls t M red g .S S t c*
1901
Consolidated m ortgage $2,000,000 authorized g o l d ..
. . . 1904
Missouri Kansas & Texas— Comm on s t o c k _____ ____
Preferred stock 4 % non cum ulative________________
First m ortgage g o ld ______________________________ Ce 1,601 1890
Second m ortgage g o ld _____________________ _____ Me 1,601 1890
First extension m ortgage gold $3,254,000____ Ce.c*
164 1894
_
St Louis D iv first refunding m ortgage_________F.e*
1901
Missouri Kansas & Eastern 1st M gold assum ed..C e
162 1892
Second m ortgage guaranteed being retired______
162 1892
Sh Sh & So 1st M ($20,000 p m) gold assum ed.C e.c*
202 1893
Kansas City & Pacific Is M gold assum ed____ Ce.c*
130 1890
M K & Okla 1st M $5,468,000 gold assum ed--C e.c*
277 1902
Texas & Okla 1st M $2,347,000 gold assum ed.C e.c*
117 1903
First and refunding M $40,000,000 gold (see t e x t ).F
1904
General m ortgage $20,000,000 gold sinking fund N c* 3,043 1906
S W C & Im p 1st M assumed sinking fd calJ at 125. F
1889
O f which held In treasury Jne 20 1907: b $813,000: c $17 4,100
1907, M ay, 2 % .
B O N D S .—:M. K . & T . 1st and 2d mtges. o f 1890 (abstracts in V . 51, p.
495) cover line from Hannibal, M o., to a point 80 m. from H ouston, T e x .,
941 m. (except 71 m. o f trackage) and sundry branches, the total mileage
m ortgaged being 1,601 m ., including the Sherman Shreveport & S o., but see
below . These mtges. also cover the right to the land grant in Indian Ter.
The M issouri K ansas & Eastern bonds originally guaranteed were assumed
In June 1896, the road form ing the St. Louis extension from Franklin, M o.,
to Texas Junction, M o., 162 miles. See V . 63, p. 30. O f the St. Louis
division 1st refunding bonds, $4,666,000 were reserved for the retirement
o f b oth Issues, the balance being for extensions and Im provem ents on the
division. V . 72, p. 1034; V . 75, p. 608.
The Sherman Shreveport <fe Southern m ortgage is for $6,000,000 at $20,000
per mile; Issued, $3,689,000, o f which $2,000,000 pledged under M. K . &
T . m tge. o f 1890. The bonds, form erly guaranteed, were assumed upon
consolidation in M ay 1901. V . 72, p . 1034, 1115.
The Missouri Kansas & Oklahom a and Texas & Oklahom a bonds. Issued at
$20,000 per m ile, guaranteed, have been assumed. V . 74, p . 1038; V . 75,
p. 185, 733; V . 77, p . 252; V . 78, p. 48; V . 79, p. 968.
O f the 1st and refunding 4s o f 1904 ($40,000,000 authorized issue) $12,037,000 Is reserved to retire divisional mortgages at or before m aturity;
balance unissued ($22,781,000) for future purposes. T hey are payable at
the o p tion o f the holder in sterling, marks or francs. V . 79 p. 968, 1281,
1332; V . 80, p. 222, 712; V . 81, p. 613; V . 8 2 ,-p. 987, 1497.
Stockholders voted March 3 1906 to authorize an issue o f $20,000,000
gen. m tge. 4 3^ % sinking fund 30-year gold bonds, secured b y lien on all the
p roperty now owned or hereafter acquired from the proceeds o f the bonds.
The bonds were used to pay outstanding equipm ent notes ($4,001,844 on
Jan. 1 1906) and will provide for future requirem ents. Stockholders were
in 1906 oSered the right to subscribe for the $10,000,000 present issue (which
was underwritten) pro rata (1 3 % o f their respective holdings) at $875 per
$1,000 bond. A s t o M . K. & T. o f Texas “ first extension and general m ort
gage” for $25,000,000, contem plated in 1906, see V. 83, p. 435, 562; V . 82,
p. 1269; V . 82, p. 218, 334, 692; V 84, p. 1551.
G U A R A N T IE S .— The B oonville Bridge 4s are guaranteed, principal and
Interest, and also as to sinking fund beginning 1911. V . 73, p. 494.
The M . K . & T. of Texas m ortgage secures $10,000,000 o f bonds at
$20,000 per mile for extensions In Texas. T hey are guaranteed principal
and Interest. See abov e, and guaranty V . 56, p . 604.
The Southwestern Coal <k Improvement C o.’s bonds are guaranteed. M ort
gage ($1,000,000) covers the coal on 51,000 acres In Indian Territory, and
the com pany also owns 2,350 acres additional, the Denison & W ashita R y .,
20 miles, mines In active operation. &c.
L A T E S T E A R N IN G S .— For 11 m onths ending May 31;
11 mos.—
Gross.
N et.
Charges.
B al., Sur.
1906-07
...$ 2 4 ,0 7 0 ,7 9 3 $7,901,205 $4,579,572 $3,321,633
1905-06 ________________ 19,539,659
5,287,315
4,118,073
1,169,242
A N N U A L R E P O R T .— Annual m eeting first Thursday after first M onday
In A pril. R eport 1905-06 was given in V . 83, p . 684, 812.
Year ending June 30—
1906.
1905.
1904.
1903.
Average miles op era ted .
3,043
3,043
2,884
2,601
Passenger earnings_____ $5-,157,881 $4,935,592 $3,802,202 $3,160,455
Freight_____ ____________ 14,968,833 14,134,335 13,102,910 13,256,900
Mall, express, & c............
1,032,431
971,168
861,484
790,838
Gross earnings________$21,159,145 $20,041,095 $17,766,595 $17,208,193
Oper. exp . and ta x es___ 15,414,545 14,937,720 12,997,710 12,449,083
N et, earn., inc. oth.lnc.*$6,153,635 *$5,528,556 $5,085,608 $4,858,675
Interest on bon d s______ $4,041,043 $3,864,718 $3,316,172 $3,291,396
R entals, & c ......................
459,505
396,647
703,068
467,363
Balance, surplus_____ $1,653,087 $1,267,191 $1,066,368 $1,099,916
D iv . on pref .(2 % s .-a ).
260,000
_________
_________
_________
$1,393,087
$1,267,191
$1,066,368
$1,099,916
*$409,035 in 1906. $425,181 in 1905, $316,723 In 1904, $99,565 In 1903.
O F F IC E R S .— Pres., Adrian H. Joline, New Y ork; V .-P . and Gen. M gr.,
A . A . Allen, St. Louis; V .-P . and Treas., C. G. H edge, New Y ork ; V .-P .,
C. Halle, St. Louis; S ec., C. N. W hitehead, 49 W all St.
Directors— Adrian H. Joline, Henry W . P oor. Chas. G. H edge, James
Brown Potter, James N. W allace, J. G. M etcalfe, New Y ork; Myron T .
H errick, Cleveland, O.; A . A . A llen , C. Haile, James Hagerman and R . W .
Maguire, St. Louis, M o.; B. P. M cD onald, A lfred J. P oor, E. B. Stevens
and H. J. De Marez Oyens, Am sterdam , H olland; and A lfred W . Smithers
o f L ondon , E n g.— V . 84, p. 804, 1248, 1551.
MISSOURI & NORTH ARK AN SAS R R .— Seligman, M o ., at a connection
with St. Louis & San Francisco, to Leslie, A rk ., 128)4 miles. E xtension is
proposed from Leslie to Helena, A rk., 175 miles, o fw h ic h 130 miles from
Leslie to Searcy was under construction July 1907; also from Seligman
northwest to Joplin, M o., 60 miles, o f which 30 miles, which is ow ned,
was graded in July 1907, and remainder from Neosho to Joplin to be
Kansas City Southern trackage. Successor per plan V . 82, p. 569, 1269;
V . 83, p. 39, of the St. Louis & N orth Arkansas foreclosed May 29 1906.
S tock authorized, $25,000 per mile. In A ug. 1906 a m ortgage was filed
to secure an issue o f $11,500,000 50-year 4% erold bonds (St. Louis-Union
Trust C o., trustee) issuable at $25,000 per mile. Entire stock and bonds
are pledged to secure $6,000,000 5-year 5 % gold notes o f the A llegheny
Im provem ent C o., due O ct. 1 1911, but redeem able on any interest day;
interest payable A . & O. at St. Louis Union Trust C o., trustee. V 85, p. 99.
For year ending June 30 1906, gross, $273,435; net, $56,572; other in
com e, $38,184; total deductions, $127,084; balance, deficit, $32,328.
Chairman o f B oard, D. R . Francis: Pres., John Scullin.— (V. 85, p. 9 9 .)
MISSOURI O K LAH O M A & GULF R Y .— V . 81, p . 1849.
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
$100 C$6,000,000 See text.iJ
100 d 4,000,000 5 in 1907 J
950,000
500 &c
J
7 g
1,000
1,015,000
J
7 g
636,000
1,000
J
7 g
1,000
1,382,000
A
6 g
5,282,000
1,000
M
5 g
1,000 b 10413,000
4 g |M
5,000,000
5 g |f
1,000 See text
4 g :F
100 14,000,000 4 in 1906[A
100
7,000,000 7 in 1906iA
1,000
8,204,000
J
4 g
1,000
306,000
4 (5) :J
1,000 41,605,000
J
4 g
1,000
3,500,000
J
1,948,395
1,660
1,478,000 4 & 5 F
See text
5 g
220,000
1,000
J
5 g
1,638,000
1,000
J
5g
1,000
768,000
J
4 g
790,000
1,000
J
4 g
100 63,300,300 ______ 100 13,000,000 4 in 1906;M
500 &c 40,000,000
J
4 g
500 &c 20,000,000
4 g IF
3,254,000
1,000
5 g
M
1,000
1,921,000
A
4 g
4,000,000
A
1,000
5 g
1,000
66,000
5 g
A
1,000
1,689,000
J
5 g
1,000
2,500,000
4 g :F
1,000
5,468,000
M
5 g
2,347,000
1,000
5 g
M
5,182,000
1,000
4 g |M
1,000 10,000,000
4H g J
1 000
968,000
6
J
d $39.10 0.
MISSOURI KANSAS & TEXAS R Y . (C oncluded).
D IV ID E N D S .— On preferred 1906, 4 % (M. & N J ;
[V o l .
Where Payable, and by
Whom.
lxxxy.
Bonds— P rinci
pal, When D u e.
Stocks— Last
Dividend.
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
J Central Trust Co, N Y
J
do
do
D
do
do
D
do
do
D
do
do
O
do
do
N
do
do
S
do
do
A
do
do
A
do
do
O Minn office; checks m ail’ d
O
do
do
J Bank o f Montreal, N Y
do
do
J
do
do
J
do
do
Jan 15 ’ 04 2H %
J ’ly 15 ’07 2 ^ %
June 1 1927
June 1 1909
D ec 1 1910
April 1 1921
N ov 1 1934
Mar 1 194S>
Feb 1 1911
Feb 1 1956
A pr 15 ’07 2 %
A p r 15’07 3)4 %
Jan 1 1926
Jan 1 1936
July 1 1938
Jan 1 1949
&
1st N at B k, St Paul,Minn
A
J Amer Tr & Sav B k, Chic
J H arvey, Fisk & Sons.N Y
J
J New Y ork
A ug
1911
Jan
July
Jan
Jan
&
&
&
&
& N New Y ork
& D Office, 49 W all
& A
do
& N
do
& O
do
& O
do
& O
do
& D
do
& A
do
& N
do
& S
do
& S
do
& J
do
&
do
J
1 1916
1
1
1
1
1922
1945
1951
1951
May 10 ’07 2 %S t, N Y June 1 1990
do
June 1 1990
do
N ov 1 1944
do
April 1 2001
do
April 1 1942
do
April 1 1942
do
June 1 1943
do
Aug 1 1990'
do
May 1 1942
do
Sept 1 1943
do
Sept 1 2004
do
Jan 1 1936do
July 1 192&
(I) MISSOURI PACIFIC R Y .— (See M a p .)— Operates an Important sys
tem extending westerly and southwesterly from St. Louis, M o., including
main lines from St. Louis to Om aha, N eb ., 494 m ., and from K an. City to
P ueblo, C ol., 624 m ., with m any branches in Kansas, &c. Through the St.
Louis Iron M t. & Southern, which It controls, connection Is had with Texasand the lines o f the T e x . & P a c., Internal. & Gt. N orthern and the St. Louis
Southwestern, the whole form ing what is known as the “ Gould System "
(see V . 60, p. 8 3). The M o. P a c. prop erty includes (July 1 1906).
Lines owned and controlled.
M iles.
Leased lines, & c. (Con.)
M iles.
St. Louis to O m aha___________ 494 Other lines_____________________
39Other main line_________ _______ 975 Trackage to S t. Joseph, & c_ .
21
Branches ow n ed_______________ 1,919
Leased lines, A c .
Boonville St. L . & Southern___
44 T o t.M o .P a c. and bramch lin e s.3 ,4 9 2
Also owns all capital stock o f Central Branch Union P acific, & c., 388miles; St. Louis Iron Mountain & Southern and leased lines, 2,459 miles.
Grand total Missouri Pacific m ileage July 30 1906, 6,339 miles.
Early in 1901 a large Interest was acquired In the Denver & R io Grande
R R ., and so in the R io Grande W estern R y ., extending the system as far
west as O gden, U tah. The Gould and R ockefeller holdings in the D enver
& R io Grande are together understood to constitute a large m ajority o f
entire capital stock . See also "G eneral Finances.”
O R G A N IZ A T IO N , L E A S E S , & c.— The present com pany was a consoli
dation In A ugust 1880, em bracing the Missouri Pacific and minor roa d s.
Control o f the International & Great N orthern was secured In 1892.
S T O C K .— The am ount outstanding on D ec. 31 1900 was $50,432,150;
this was Increased to $76,402,875 in 1901; in 1902 b y $1,400,000.
D IV S .— V82 ’83 to '87 ’ 88 ’89 ’90 ’ 91 ’92 t o ’00 ’01
1902 to July 1907
Per ce n t/6
7 yearly. 5 H 4 4 3
N one. 2 )4
S yearly.
B O N D S.— The consolidated mortgage Is for $30,000,000— trustees John F
Dillon and Edward D . A dam s— the balance unissued Is in trust to redeem
prior bonds due If deem ed best. Abstract In V . 47, p. 287.
The collateral trust bonds due 1917 (U nion Trust C om pany o f N ew Y o rk ,
trustee) are secured b y m ortgage bonds o f new roads at $12,000 or $15,000
per mile; these em bracing the line from Fort S cott, K a n ., to P ueblo, C o l.,
&c. For securities pledged, & c,, see V . 46, p. 678.
Collateral trust bonds due in 1920. see V . 50, p. 669, 874; collateral trust
notes due Feb. 1908, V . 82, p. 100.
The 4s of 1905 ($50,000,000 authorized issue) are to be secured b y an
equal am ount at par o f Iron Mountain stock, the deposited stock to b e
never less than a m ajority o f the outstanding am ount, the Mo. Pac. co v e
nanting that it will not perm it the creation b y the Iron Mt. Co. o f any stock,
having preference or priority as to dividends or otherwise over the stock
pledged or the creation o f any bonded debt o f the Iron Mt. Co. in addition
to Its bond ed debt at present authorized, except to fun d, extend or retire
such present authorized bonded d eb t, or for new property at a fair value n ot
exceeding cost. The remaining $25,000,000 Is reserved for extensions, im
provem ents and betterm ents. V . 80, p. 712.
G E N E R A L F IN A N C E S .— In 1903 the Missouri Pacific R ailw ay Co. a c
quired $2,000,000 W abash R R . preferred stock and the S t. Louis & Iron M t.
$6,500,000 additional, the latter also owning $5,435,000 o f the debenture B
bonds, which were exchanged for new bonds and stock under refunding
plan. See W abash R R . Syndicates in which the Goulds are interested
have purchased the W estern Maryland and have com pleted a line connectin
the Wabash with Pittsburgh and built easterly to a connection with the
Western Maryland and tidewater at Baltimore. The G ould interests are
also back o f the Western Pacific R y ., building between Salt Lake City and
San Francisco. See V . 80, p. 1730. V . 79, p. 1023.
E A R N IN G S .— 11 m o s .,J1906-07__Gross, $44,*72,022; net, $14,888,552
Ju ly 1 to May 31.
\1905-06--G ross, 40,961,918; net, 13,211,141
A N N U A L R E P O R T .— Fiscal year changed to end June 30; year end
ing June 30 1906 was in V . 83, p. 886, 903, 964; ed it., p. 941. Annual
meeting is held at St. Louis In Mch. R eport for earns, o f Missouri Pacific
system have been as below . “ Other incom e" in 1905-06 includes: Int. on
T ex. & Pac. 2d m tge. Incomes, $1,183,400; Pacific Express C o., $144,000;
Cent. Br R y ., $1,061,900; D en.& R io G r.. $547,500; coal co s., $410,000.
— Years ending June 30-------- Cal. Year.
1906.
1905.
1904.
Miles operated_______________________
6,276
6,205
6,140
Total earnings_________________ ______$44,566,821 $41,067,282 $43,693,617
Net earnings________________________ 14,284,416 13,035,390 13,287,576
Other Incom e, & c____________________ 3,558,911
3,037,882
2,937,274
Total net incom e..................................$17,843,327 $16,073,273 $16,224,850
Interest and rentals____ _____________ $8,936,792 $8 191,983 $7,718,109
T a x e s ..........................................................
1,457,924
1,388,344
1,298,771
Sundry accounts.................. ...... ............. 1,119,596
1,060,768
1,282,337
D iv id e n d s ........................................(7 M) 5,836,305 (5)3,890,867(5 5^)3890867
Balance, surplus......................................
492,710
1,541,310
2,034,766
O F F IC E R S .— Pres., George J. Gould; Sec. and Treas. A. H. Calef, 195
B roadw ay, New York.
Directors— George J. Gould, Stuyvesant Fish, Edwin Gould, Samuel
Sloan, J. J. S locum , Howard Gould, Fred. T . Gates, Frank J. Gould and
James H. Sm ith, New Y ork; Charles S. Clarke, O. L. Garrison, W . K.
B ix b y, St. Louis, M o.; S. Davies W arfield, Baltim ore.— (V . 84, p. 996.)
(2) M I S S O U R I
P A C I F I C S Y S T E M — ST. L O U I S IR O N M O U N T A I N &
S O U T H E R N R Y . — (See M a p .)— Owns St. Louis to Texarkana, T e x ., Line,
490 miles: branches to B elm ont, M o., Bird’s P t., Mo. (Cairo), Cam den,
A rk ., Helena, A rk ., Cushman, A rk ., Arkansas C ity, A rk ., W arren, A rk .,
Memphis, T en n ., & c.; Houston Central Arkansas & Northern R ailw ay, McGehee, A rk ., to Alexandria, L a ., 191 m .: W hite R iver branch, Illinois Di
vision Memphis Helena & Louisiana East & W est. 111. R y ., 1,534 m .; total
owned July 1 1906, 2,215 miles. Leases Little R ock Junction R R ; K ansas
& Ark. V alley R R . (acquired March 1906); St. Louis Southwestern R y .
and miscellaneous, 244 miles. T otal operated July 1 1906, 2,459 miles.
Holders o f $23,668 000 of the $24,983,093 Texas * Pacific seconds ex-
93
RAILWAY STOCKS AND BONDS.
JrL Y . 1907. J
Salem
Centr&Ka
leviUe
Flora
\
Pacific
Mt.Carmel^
Crystal Clt;
LnckneJ
De Soto a
Cuba
McLeansborcK Car)
Du Quoin
\
ill.
\*./
— L/C
Hancock
Steelyille
rSnsvillei
Loekport J
Camielton
tk
W estPpint
\§£r/^/ Lebanon. J c ..
/ Elizabethtown#
r0 VcJlendeane
Perryville"
Lebanon
Marioi
V\K nob Lick
iCo^en
fmlgen
Jackson
MarquancT
CajJe^Girardeau
Annapolis
Ulington
VK0 P r < U id e n c e '^ MadisoH
|.L»fV v r||. ^ Mammoth Cave /
.Nortonvine raJ City Glasgow J c \ /
Brookwort
Delta'
Cabool
Bowling G re e n ^ ^ ^
William!
Willow Springi^T
Frisco
U opkinSvm e T emph^
HunterNr'
Grandin
West Plain?
9
Poplar'
B lu ff/
Paw Paw/
Mayfield’
Clarksville,
rFulton
fca m p b e M ft^ d en
■&V Pocahontas
[artsville
iDanvill
Vanleer.
Paris
/ Kennett
[ornersville
Dyfflsburg
Cushmans
Hartsville Jc.
Gallatin]
ttducah Jc.
k Martin
Hoxiej
» o w
gcottsville
luthrie
Doniphan/
Thayei
r
\ Russell villes---------------
Morehouse,
A S H V IL L E
s t . Pond
Dickson l .
Rock
Lyles1\W arner
Milan
"Nettleton
Jacksonport
Lexington,
Brownsville,
.Newpoi
Bald Knob
Searcy
H igginsonV^-' C f )
l&Us
IWynne
>Kerville,, / V
/O '
'
S'?
.Perryville
OWSmajf
< / Silers
S o p le r v ille ^ /
Dor/is|
B ryan«/brg|
i *ooi *./
Lenoke
indon \
.Pine Cit;
.ix t Y e r o o k
VA
^Benton
\
Sheridan
^ltheim er
Rob Uoy V
English
Pine Bluff
.Camptown /
lo
Ladd
Warren
Monticello
[Lamoi
Dermott/<B
freenvifl
V /
»
X
.W r Y .C / P
W A LTH A LL0
M A T H IS O fl.
^ ^ ^ r"^ ^ "^ ^ T a b cr
/
//,.,
Belzona;
Percy
Cherry RiSge
X.
L O U IS V IL L E
_
>0 City
CollinstonV
ACanton.——
'f
f
~7
/
Monroe
7
s.
I evSj^—<.Winfiel
Sierrs
Jewe!
Union
Stamper
Justice
Crowsvll
Solumbus
Springs N.
Carrollton
Tuscaloosa) .Bloc ton
MaconJ
Scooba
\
fuinbiana
Akron,
ilapleville'
Narkeeta
“ G a r ls n d v il le /f’ VICKS.
Baxter A?
Montrose M
Louln p
0^ Hamlet H
Bay S p r in g y
0 ;toeQ'5>
S t r in g e r ^ ’
Silver Creek
;mer
.Reform
W CW TO N f
[iazjehurst
1 ✓— %^'.v W3
( Saratoga
^
AttallaN
.berdeen
Marion
York
Marion Jc.
DooTfttteE
//
T M e ri^ian
Linden
Enterprise
/^Nadawah A - Luvem ei
tieorg ian a /
/
Penny Mill
JacksonVc^o'
/R anxli
Repton1
V h a t t ie II bu T
Summit )
Columbia)
1 * r u sca h :z f,
-s-
I Brilliant,
^Aberdeen Jc.
___ d i c a t u r ?
A /
8. W ARREN ST,
1Cullman
P H IL A D E L P H IA
^ f\
Hobbs\
Island
j
New ProspCct
^GFipsy
/
[untsville
Guntersville
ack erm a >
- ^ 7 1 ) u ran
Sornwell
berdeen?-------Argo
jc /
Holy Cross
/Pulaski NFayetteville'
Decherc
lussellville
Tuscan,
0/
Summertown\ TullahomaV'
Tnscumbiai
CH ESTER
Jfl
\ w art
\ NShelbyville
Florence
I Blue Mountain
Guyton /
(
uj
f
J
-onside
Iron City Xf
Corintl
Oxford I
Ingomarl
S.
/Cherry Creekl
Ecru I
P O N TO TO C I
Water
Primrosej
Valley i
Alsomal
Bed Land I
Gershorml
Honlkal
Pandorafl
Thornjl
.
, t
TabbviHefl
> Grenada^
Atlan ,H
.__ ___ h.
CongressH
/
<o°\
Holienllnden n
L , ,
. /.
jTchula ^ 7 *
Hamburg
Selmer
r '—
^V. 1 Cotton Plint /
^EW ATBanW
I■
H
r .« «
Upland
Pinkney q s
B IP L C V
L
Y Senatobia
Stuttgart^
H ele n a ,
'riars Poinj:
i
—SOU. (jra,/d JP H o / y j
iloscow "°~— Jp— :----1
/ Proctor]
/ "Walnut
•
f iplersville
1*
Falkner
.Brinkley
//C olum bia
/
Y
Napier
J Allens ( f
°"
Creek
Lawrenceburg,
Andalusia.
Flomatbn,
Magnolia
Maxie)
istview
S7WATEI
)
iHammond
Covington \
1
m o b il e
^
SSflL Cantonmei
MandevjlJe
1400 ACRES
fL.Pontcha rtra t
SHALLOWS
Gittna
M O B ILE , JACKSON & KANSAS CITY B .R .
pbb
TERMINAL PROPERTY
AT MOBILE.
MOBILE, JACKSON
I KANSAS CITY R. R
AND CONNECTIONS.
£'
91
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
Missouri Kansas & T exas— (Concluded)
Dallas Sc, W aco 1st M $20,000 p m g .C e .c* l Guar pri
M K & T o f Texas 1st M $20,000 pm_Ce.c* ^& inter.
B oonville Bridge 1st M gold sink fd _C e.c*j (e n d ) ___
Missouri Pacific— Stock ($100,000,000 authorized)___|
Pacific R R o f Mo 1st M extended in 1888 g o ld ..M e j
Second M ext in 1891 in gold St L to K C____ c*
First M St Louis real estate ext in 1892 g o ld ____
First M Carondelet Br gold guar p&l (end) ext '93
Third M ext in 1906, red 105( V 8 3 ,p 4 9 2 ,13 4 8 .Ce!
Missouri Pac 1st M Lexington to Sedalia, M o, gold!
Consolidated m ortgage $30,000,000 gold ______ c*j
G old collateral trust_______________________ Un.c*&rj
First coll M bonds for $10,000,000 g o ld ______ Me.c*
M ortgage $50,000,000 gold red at 102 34___Me.c*&r
T w o-year collateral trust gold notes___________ Eq.c*
Ler & Caney Val 1st M gold guar (V 70, p 1095). _c*!
Verdigris Val Independence & W 1st M gold guarj
K C 4 N W 1st M pref “ A ” gold int rent red 1 0 5 .Me!
E quip A ss’n obligations $203,000 pay Sept 1 yearly!
do
do
Ser B gold $97,000 due Mar 1 yearly
do
do
Ser C, gold $282,000 June 1 yearly.M e
do
do
Ser D to F , gold $103,000 D ec 1 yearly
do
do
Ser G , gold $43,000 June 1 yearly____
do
do
Ser H ,g old.$ 10 0 ,0 0 0 yearly__________
do
do
gold $77,000 y ea rly _____________ Me_r
Mo Pac equip bonds gold $335,000 May 1 yrly Kc* &r
Mo Pac System — St Louis Iron Mt & Southern Ry—
Gen con & 1 gr M ($45,000,000) g ________Me c*
do do
gold stam ped guaranteed p & I ..c *
U nifying & refunding M gold $ 40 ,00 0 ,0 0 0.Mp.c*
R iver & G Dlvs 1st M $50,000,000 gold .M e.c*& r
Car trusts K to M, due June, Sept & D ec yearly . .
Car trusts Ser N to P $355,000 or $357,000 yearly
Car trusts Ser R & S $297,000 or 299,000 y e a r ly ..
do
do
gold $366,000 y ea rly ______ Me.c&r
Little R ock Junct 1st M guar p & 1 b y Ir M t. . Me c*
Pine Blufl & W est 1st M gu p & 1 red 10 ye&rs 105
Mo River & North w— 1st M gold $1,000,000 red (text)
M iles Date
Size, or
of
Par
A mount
of
Road. Bonds. Value. Outstanding
67
225
___
___
283
283
___
13
296
55
1,076
1,120
671
___
___
52
81
___
___
___
___
___
___
___
1890
1892
1901
1868
1871
1872
1873
1876
1880
1880
1887
1890
1905
1904
1886
1886
1894
1902
1903
1903
1903
1905
1906
1907
1906
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
1 000
1,340,000
M & N Office. 49 Wall St, N Y
5 g
1,000
4,505.000
M & S
do
5 g
do
r.o o o
1.000,000
M & N
do
do
4 g
100 77,817,875 5 in 1907 J
<Sc J 195 Broadway,N ew York
1,000
7,000,000
F & A Mercantile Trust Co, N Y
4 g
1,000
2,573,000
& J
5g
J
do
do
500 &c
800,000
M & N
do
do
5g
500
237,500
do
do
4M t A & O
1,000
3,828,000
M & N
do
do
4 g
500 &c
650.000
F & A
do
do
5 g
1,000 14,904.000
M & N
do
6 g
do
1,000 14,376,000
M & S
do
5 g
do
1,000
9.636,000
F & A
do
5g
do
500 &c 25,000,000
M & S
do
4g
do
5,000
6,000.000
F & A
do
5g
do
1,000
520,000
do
J & J
5 g
do
1,000
806,000
M & S
do
do
5 g
500 &c
1,026 000
do
J & J
5g
do
1,000
1,218,000
5 g
do
do
'
Q— M
1,000
485,000
do
do
5 g
Q— M
1,000
1,692.000
5g
do
do
Q— M
1,000
769.000
do
do
5 g
Q— M
1,000
344,000
do
do
5 g
Q— M
1,000
800,000
do
do
5 g
Q— M
1,000 &c
693,000
do
do
Q— M
5 g
1,000
3,350,000
5 g
1.538 ’ 8 1 -’87
1,000
1,538
1,000
1,538 1899
1,000
687 1903 1,000 &c
___ ’9 5 -’03 _________
- - - 1903
1,000
- - - 1905
1,000
___ 1907
1,000
2 1891
1,000
44 1903
1,000
___ 1904
1,000
MO. PAC. SYSTEM— ST.LOU IS IRON MT. & SOUTHERN (Concluded.
changed their bonds for 65% in new Iron Mountain gold 4s. See “ B onds’
below , also V . 68, p. 329, 380, 474, 520, 572, 619, 774.
The continuous low-grade line from St. Louis to New Orleans b y connec
tion with the T ex. & P a c. R y . at C layton, L a ., is nearing com pletion.
Branch from Springfield, M o., to Crane, 34 miles, was opened May 1907
S T O C K .— Stock authorized, $130,000,000; outstanding, $44,397,375, o f
which $44,335,400 June 30 1906 owned b y Missouri P ac. See below.
D IV ID E N D .— In 1899, 2 % ; 1900, 6: ’ 01, 6; ’02 to ’04, 10 y ’rly; 1905, 7;
fiscal year 1905-06, 1 4% ; 1906-07, 1 0 % ..
B O N D S .— General consol, mtge. is for $45,000,000, N os. 11,001 to 18,000
Inclusive are endorsed with the Missouri Pacific’s guaranty o f principal and
Interest; form of guaranty was in V . 56, p. 650; they are a first lien on 1,538
miles. (V . 68, p. 85, 233, 520; V . 78, p. 704, 1224.)
The gold 4s of 1899 (first issue $30,000,000) m ay be Increased not over
$10,000,000, at $12,000 per m ile, for construction or acquisition and equip
ment o f branches and extensions. T hey are secured b y a lien (subject only
to the general consols on all the railroads, terminals and eauipment o f the
com p a n y owned at the time o f the making thereof and also a first and only
lien on all stocks and bonds form erly em braced in the trust of the gold fund
ing note indenture, all leased and branch lines, or their bonds and stocks
acquired by the loan, and $23,668,000 Texas & Pacific seconds, future exten
sions, &c. (V . 68, p. 619; V . 70, p. 997; V . 74, p. 206; V . 78, p. 704, 1224.)
The River & Gulf Divisions 4s o f 1903 (present issue $20,000,000) will be
secured b y a 1st lien on 677 miles o f road built or under construction (see
above) and on terminal property at St. Louis, East St. Louis, Cairo and
Thebes, and 8,000 acres o f coal lands irLlllinols, and deposit o f the bonds of
the Union R y . o f Memphis. A dditional bonds m ay be Issued up to a total
o f $50,000,000 at not over $30,000 per mile o f main line for new construc
tion , and $15,000 per mile o f second track and branches, but not exceed
ing the actual cost, and for additional term inals, equipm ent, double tracks,
&c. V . 76, p. 543, 600, 1085; V . 77, p. 1875, and application to list,
V . 77, p. 2036,2049; see also V . 80, p. 2459; V . 83, p. 436; V . 84, p. 627.
Pine Blufl & W estern guaranteed 5s o f 1903 (American Centra! Trust Co.
o f St. Louis, trustee). see V . 78. p. 103; form , V . 78, p. 769.
E A R N IN G S .— For 10 m onths ending A p r. 30 1907, gross, $19,965,357;
net $7,519,614; other incom e, $1,450,243; charges, $4,671,950; balance,
surplus. $4,297,907.
R E P O R T .— R eport for 1905-06 in V . 83. p. 903 964, showed;
Year ending — -—Calendar Year------June 30 '06.
1904.
1903.
Gross earnings.......................................... $21,209,777 $19,788,829 $19,575,350
Net ea rn in gs________________________
7,878,960
6,988,100
6,720,285
Other re c e ip ts ........................................... 1,710,439
1,493,923
1,428,572
T otal net Incom e...................................... 9,589,399
8,482,023
8,148,857
Interest on bon d s____________________ 4,314,517
3,963,688
3,624,601
T axes, bridge e x p ., rentals, & c______
1,145,110
1,197,365
1,056,512
D ividends...............................................(14) 4,114,588(10) 2,578,831 (10) 2,578,831
Balance for y ea r_____ _______________ sur.$15,184 sur.$742,139 sur.$888,913
— (V . 82, p. 1102; V . 83, p. 436; V . 84, p. 627, 1053, 1368.)
MISSOURI R IV E R & NORTHW ESTERN R Y .— Owns R apid City to
M ystic, S. D ., 35 miles, opened Mch. 1906. A reorganization A pr. 1904 o f
the Dakota Pacific R R . The W yom ing W estern R R . was incorporated In
1907 b y the same Interests, with $4,000,000 authorized s to c k ,to build from
M ystic, So. D ak., west to B uffalo, W y o ., 200 miles. V . 85, p. 160. On
F eb. 14 1907 V . E . Crouch was appointed receiver on account of difficulties
am ong stockholders; all coupons had been paid. V 84, p. 508. S tock,
$500,000 each o f com m on and 4 % cum . pref. Par o f shares, $100. Bonds
are subject to call at 105 after June 1 1914. Cleveland Trust C o., trustee.
V . 81, p. 1610. Pres., C. D . Crouch; Sec. and Treas., T . H . Saunders.
O ffice, R apid C ity, S. D .— (V . 84. p. 508; V. 85, p. 160.)
MOBILE & BIRM IN GHAM R R .— (See M a p . Southern R y .)— M obile to
Marlon J et., A la ., with branches; 150 miles. Leased to Southern R y .
from Mch. 1 1899 for 99 years, the latter agreeing to meet the Interest on
bonds and to guarantee a dividend on the $900,000 pref. stock of 1 % for
first year, 2 % for second year and 3 % for third year, and 4 % for the fourth
year and thereafter. The $900,000 com m on stock is owned by Southern R y .,
and the voting power on the pref. Irrevocably assigned to Southern R y . dur
ing lease; V . 68, p. 429, 1134; V . 69. p. 391: V . 71, p. 1013.— (V . 72, p. 137.)
MOBILE JACKSON & KANSAS CITY R R .— (See M a p .)— Operates:
Road owned—
M iles. | Road controlled—
M iles.
Mobile, Ala . to D e c a t u r _______ 166 G ulf & Chicago (leased 99 y rs.),
B eaum ont, Miss., to H attiesburg. 27
D ecatur, Miss., to M iddleton,
EUlsvllle Jet. to Elllsvllle, M is s.. 6
T e n n __________________________203
T otal main track o w n e d ______ 199
T o t a l __________________________ 203
T otal road owned and leased (100 miles 60-lb. and 302 m. 70-lb. steel) .402
S T O C K .— M. J. & K .C . R R ____________ $4,000,000 com m on; par, $100
Gulf & Chicago R y __________ 5,000,000
do
do 100
In July 1907 a syndicate consisting o f L. S. Berg, who becam e President,
and New Y ork capitalists, acquired con trol. An extension on the north
and a New Orleans connection, it is understood, are contem plated. V 85,
p. 99, 160.
B O N D S .— M. J. & K .C . R R . 54,000,000 1st consol, m tg e., covering 200
miles main track and valuable terminal property in M obile Harbor; $36,000
o f old 1st m tge. 5s still outstanding, for which an equal am ount o f consols
are reserved. The 1st consols are subject to call at 110. V . 77, p. 822; V .
70, p. 687; V . 78. p. 48; V . 81, p. 1315.
Gulf & Chicago R y . $5,000,000 1st m tge. 5s: the $4,000,000 Issued cover
203 m . o f track. Bonds guar. prln. & int. b y M. J. & K . C. R R . Co. b y end.
on each bond . Both Issues lim ited to $20,000 per mile o f main track.
The car trust 4>4s o f 1905 m atured $15,000 quarterly to July 1906; m a
turing iln re, $14,000 quarterly to July 1910. V . 81. p. 1550.
E A R N IN G S .— For 6 m onths ending Dec. 31 1906, gross, $743,921,
against $466,475 in 1905.
R E P O R T .— F or year ending June 30 1906. In V . 84, p . 99, showed (362
average m iles): Gross, $1,083,692; net. $310,045; charges, taxes, & c.,
$281,018: b al., sur., $29,027. In 1904-05 (259 av. m iles), gross, $677,528.
[V o l.
37,256,000
6,322,000
30,469,000
28.343,000
1,448,000
2,139.000
2,091,000
3,660,000
435,000
880.000
700,000
5
5
4
4
5
5
5
5
6
5
5
g
g
g
g
g
g
s:
A & O
A & O
J & J
M & N
Quarter
Q —M
Q —M
Q—M
A & O
A & O
J
& D
do
do
do
do
do
do
do
do
do
do
Townsend Whelen & Co
do
do
Merc T r Co, N Y & Phila
Mercantile Trust C o, N Y
New Y ork and St Louis
Seab N at B k.N Y & Clev
lxxxv.
Bonds-—P rtnci•
pal, W rlrTl U u c.
Stocks— Last
Dividend.
N ov 1 1940
Sept 1 1942
N «v 1 1951
J ’ly 20 ’07 2H %
Aug 1 1938
July 1 1938
May 1 1938
Oct 1 1938
July 1 1938
Aug 1 1920
N ov 1 1920
Jan 1 1917
Aug 1 1920
Mar 1 1945
Feb 10 1908
July 1 1926
Mar 1 1926
Jan 1 1933
Sept 1907-1912
T o Mar 1 1912
T o June 1913
T o Dec 1914
T o June 1915
T o March 1915
To Dec 1916
Mav ’08-M7
April 1 1931
April 1 1931
July 1 1929
May 1 1933
To Dec 1912
To June 1913
To June 1914
T o June 1917
April 1 1916
Oct 1 1923
June 1 1944
O F F IC E R S .— Pres., L. S. Berg, 5 Nassau S t., N . Y .; V .-P ., W . D .
Stratton; Sec. and T reas., Geo. W . Crary.
Directors— W . D . Stratton. A lex. M cD onald, E. K . Stallo, Charles E .
L evy , R . W . Jones Jr., o f New Y ork; R . D. Scandrett o f Pittsburgh; C. D .
W illou gh b y, Gen. J. W . W hiting, M obile.— (V . 84, p. 749; V . 85, p. 99,160.)
MOBILE & OHIO R R .— (See M a p So. R y .)— Owns from M obile, A la ., to
Columbus, R y ., 472 miles, proprietary line, K entucky & Tennessee R R . to
East Cairo, 21 m .; branches to Columbus, M lss.,& c., 34 m .; Columbus, Miss.,
to M ontgom ery, A la ., 167 m .; Mobile & Bay Shore Branch, 38 m .; with W ar
rior Branch, & c., 23 m ., and B locton Branch, 12 m .; total ow ned, 767 miles;
St. Louis & Cairo (leased), Cairo to St. Louis, 152 m ., with branch to Millstadt, 7 in.; total June 30 1906, 926 m. Operated Independently.
In 1905 the Southern R y. had acquired $8,035,000 o f the $9,472,000 gen.
4s and $5,670,200 o f the $6,070,600 stock, issuing, dollar for dollar, its coll.
trust 4 % gold bonds in exchange for the M. & O. gen 4s, secured by a pledge
o f the latter and also stock trust certificates for stock , dividends being paya
ble (A . & O.) at 4 % In perpetuity thereafter.
D IV ID E N D S .— 1898 1 % : 1903, 2: June 1904. 2 % - 1905 6 % ; 1906,
June, 3 % ; D ec., 2 ) 4 % ; 1907, June, 2J4% - See paragraph above.
S T O C K .— Stock authorized, $10,000,000; outstanding, $6,070,600; par,
$100. The voting power on $4,984,200 o f the stock is exercised b y the gen.
m tge. bondholders by virtue o f deposit o f old debentures o f 1879.
B O N D S .— Under the general mortgage o f 1888 there can be no foreclosure
till four coupons are In default. Mortgage abstract, V . 47, p. 83. V . 60,
p. 967. Interest on $4,000,000 St. Louis & Cairo 4s Is guaranteed. As to
Mont. D iv . 1st 5s, see application V . 66, p. 1045. In April 1907 $1,299,000
5% equipment notes dated O ct. 1 1907, guaranteed b y American Car &
F oundry Co. were sold. V . 84, p. 996.
O f the $2,500,000 collateral trust 4s of 1900, $2,167,000 were Issuable In
exchange for the $6,500,000 St. Louis & Cairo stock. See V . 70, p. 532. In
1906 $6,492,000 stock had been exchanged.
E A R N IN G S .— 11 mos. J 19 06-07 ____Gross, $9,833,140; net, $2,978,902
July 1 to May 31.
\1905-06____Gross, 8,635,635; net, 2,747,718
R E P O R T .— R eport for 1905-06 In V. 83. p. 1166.
Year ending June 30—
1906.
1905.
1904.
1903.
Miles o p e r a t e d _________
926
926
912
874
Total gross earnings____ $9,445,927 $8,267,601 $7,739,706
$7,486,980
Net ea rn in gs...................
2,900,493
2,616.716
2,339,796
2,275.809
N et, incl. other Incom e. 3,025,303
2,744,052
2,462,826
2,397,939
1,815,485
1,754,725
Interest and rentals____
1,677,587
1,630,663
Balance, surplus..........$1,209,818
$989,327
$785,239
$747,276
Dividends p a i d _______ (5)$301,030 (4)$242,824 (2)$121,412 (2)$107.412
E quip. & new con stru c.
716,128
581,233
451,799
334,650
S u r p lu s .................. ..
$192,660
S165.270
$212,027
$305,215
— (V . 83, p. 1099. 1166; V . 84, p. 52, 996.)
M O H AW K & MALONE R R .— (See M aps N . Y . Central.)— Owns from
Herkim er, N . Y ., to Malone, with branches, 182 miles In all.
H IS T O R Y , L E A S E , & c.— New Y ork Central owns the $5,000,000
stock, on which dividends o f 4 % yearly are paid. In 1902 a new lease In per
petuity was m ade and $10,000,000 3 H % consols authorized, o f which $2,500,000 reserved to retire at m aturity the first m tge. bonds and $3 ,6 00 ,0 00
for Im provem ents and enlargements.— (V . 74, p. 630, 830, 937.)
’ ’ M O N O N ."— See C H IC A G O IN D IA N A P O L IS & L O U IS V IL L E R Y .
MONONQAHELA R R .— Brownsville, P a ., to R edstone J e t., 35 miles,
connecting with the Pittsburgh & Lake Erie and Pittsburgh Virginia &
Charleston (Penn. syst. lin es), which guarantee the bonds (see table abov e),
principal and interest, b y endorsem ent. S tock, $1,428,000. Penn. R R .
and Pittsburgh & Lake Erie each own $714,000 stock. Year ending Dec. 31
1905, gross, $710,783; net, incl. other incom e, $244,320; charges, $92 ,500 ;
extraordinary expenditures, $101,055; b a l., sur., $50,757,
M ONONQAHELA R IV E R R R .— R oad from Fairm ont to Clarksburg. W .
V a ., 31 miles. R oad opened in 1890. B. & O. owns all o f the $1,300,001
stock (par $100), the coal bonds being reduced to $1,000,000. Car trust 6«,
principal June 30 1906, $159,000.— (V . 70, p. 1092.)
MONTANA R R .— L om bard, M o n t., to Lewistown, 157 m . and b r. 6 miles.
In May 1906 the Chic. Mllw. & St. P. acquired the road. V . 82, p. 1212.
S tock, authorized, $3,500,000, all outstanding; p a r o f shares, $100. Of
the $2,000,000 bonds issued on first 100 miles, $999,000 are stam ped re
deemable at 105 and int. on 6 m onths’ notice, the remaining $1,001,000 be
ing held June 30 1905 b y the Northern Pacific R y . as collateral for $392,865
notes.— (V . 82, p. 1212.)
MONTEREY FRESNO & EASTERN R Y .— V . 85, p. 40.
MONTGOMERY & ERIE R Y .— (See M ap Erie R R .)— Owns M ontgom ery
to G o sh e n , N. Y .. 10 miles. Leased In 1872 to Erie R R . (w h icheee). Rental
Is $16,000 per annum. S tock, $150,000. Dividends (4 * 4 % per an.) ar»
paid May 10 and N ov. 10. Sinking fun d, $6,500 per annum. There are $40,500 2d m ort. 5s due O ct. 1 1927.
M O RELIA & TACAM BARO R Y .— P rojected from Irapuato. State of
G uanajuato, M ex ., on the Mexican Central R y ., south to A rlo, 225 miles.
Including 25 miles of side tracks, o f which 55 miles from Guanajuato to
P uruandlro, was com pleted In 1906. The road will develop large
partly developed agricultural, tim ber and mineral sections. Concessions
include $4,800 Mexican currency per m ile, exem ption from im port duties
on construction material and from Federal and State taxation, excepting
stamp ta x , for 15 years, etc. S tock, $6,000,000, all outstanding; par, $50.
Bonds ($5,000,000 authorized, are issuable at $22,222 per mile: $1,200,000
were underwritten for first 55 miles. V . 81, p. 726; V . 8 3 ,jp. 562. F i
nanced b y A. J. P eyton & C o.. New Y ork . Pres., Edson J. Cnamberlaln.
Ottawa: Gilbert E. Farquler, V .-P . and Gen. Mgr.; Jacob L . Greatslnger,
2d V .-P .: C. D . Knapp J r., S ec.-T reas., I l l B ’w ay, N . Y .— (V . 83, p. 562.)
MORGAN’ S LOU ISIAN A & TE X A S P R . & STEAM SH IP CO__ (See M ap
of Southern P a cific.)— R O A D .— Owns Algiers to Cheneyvllle, 205 miles;
branches, 110 m .; trackage to Alexandria. 24 m .: total railroad lines, 330 m .;
stcam shlo lines and ferries, 806 miles. Extension from Lafayette to Baton
R ou ge, L a., 53 miles and 3 branches, aggregating 40 miles, were under co n
struction In June 1907.
95
RAILWAY STOCKS AND BONDS.
Ju l y , 1907.J
96
RA ILW A Y STOCKS AND BONDS
[V o
l
.
lx x x y
.
J u l y , 1907.]
97
RAILWAY STOCKS AND BONDS
NEW
YO R K C E N T R A L LIN ES
NEW YORK C ENTRA L & HUDSON RIVER RAILROAD
MICHIGAN C ENTRA L RAILROAD
LA KE SHORE & MICHIGAN SOUTHERN RAILWAY
C LEV E LA N D , CINCINNATI, CHICAGO & S T. LOUIS RY.
DUNKIRK, A LLEG H E N Y V ALLEY
&
NEW YORK, CHICAGO & S T . LOUIS RAILROAD
PITTSBURGH R. R.
LAKE ER IE & W ESTERN RAILROAD
PITTSBURGH & LAKE ER IE RAILROAD
CHICAGO, INDIANA & SOUTHERN RAILROAD
RUTLAND RAILROAD
INDIANA HARSOR RAILROAD (Belt Lin t)
T O R O N TO , HAM ILTON & B U FFA LO BY.
Q U EB EI
haudiere Jc,
.Three Rivers'
St.Gabriel
gudbury
licolet
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Berthier Jc.
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Keysville
V
Rocky Mount
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RAILWAY STOCKS AND BONDS.
98
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date Size, or \
of
P ar
| Amount
of
Road. Bonds. Value. Outstanding
Mobile & Birmingham RR— Pref Stock ($900,000)____
100
Prior lien gold $ 6 0 0 ,0 0 0 ....................................... Ce.c
150 1895
200, 1000
First m ortgage $1,200,000_____________________ Me.c
150 1895
200, 1000
Mobile Jack & K C— 1st cons M $4,000,000 gold .C e.c*
200 1903
1,000
Gulf & C 1st M $5,000,000 gold guar red 110 _ .T a c*
203 1903
1,000
Equipm ent bonds gold due quarterly_____________
___ _1905
1,000
_____________________________
Mobile & Ohio— S tock
100
First M Mobile to Columbus (principal g o ld )____ F.c*
472 1879
500 &c
First M exten Columbus to Cairo & branch g o ld .F .c
55 1883
1,000
General m ortgage for $10,500,000 (now gold) s f.F .c*
506 1888
500 &c
M ontgom ery D iv 1st M $4,000,000 g o ld ____Ce.c*
189 1897
1,000
Collateral trust gold ($2,500,000) call at par___G.c*
___ _1900
1,000
St Louis & Cairo first m ortgage gold Interest g u a r _ .c
161 1886
500 &c
Mobile & B Sh 1st M $200,000 assumed g o ld ..F .c *
38 1899
500 &c
____1898
E quipm ent bonds (m ostly 6s)_____________________
1,000
E quipm ent trusts " A ” & “ B ” $500,000 each sink fd
____1899
1 000
do
do
Series A C F __________________
___ 1901-5
do
do
Series “ C” due semi-annually. N
____1904
i _,odo
____1905
do
do
Series “ D ” gold $34,000 due s-a
1,000
do
do
Series E , gold $46,000 due s-a. G
____1906
1,000
Equip notes $1,299,000 guar due part sem i-an.M St.c
____1907
1,000
Joint equipment notes ($9,500 due sem i-a n n u ally)..
____1902
1,000
Equipm ent notes Baldwin L ocom otive W ork s_____
__ __1907
Mob & Mai— 1st M $15,000 p m g gu p & i (en d )._ K.c*
182 1892
1,000
___ _1902 1,000 &c
Consolidated m ortgage $10,000,000 g o ld ___G .c*& r
M*nongaheIa RR— 1st M $1,500,000 join t guaranty
35 1902
Monongahela River RR— Bonds— See B & O R R .
Montana RR— First m ortgage gold $ 2 ,0 0 0 ,0 0 0 ..Ce.c*
100 1900
1,000
M ontgom ery & Erie Ry— 1st M (old 7s extended in ’86)
____1866
1,000
Morelia & Tacambaro— 1st M gold (see text) . . UsmC*
55 1903
1,000
M organ's La & Texas— 1st M (New Orl to Morg C) .F.c*
102 1878
1,000
157 1880
First m ortgage Alexandria Extension g old ______ F
1,000
General m ortgage_________________________________ F
204 1893
1,000
_________
Morris & Essex— Stock 7 % guaranteed D L & W ____
50
First m o rtg a g e __________________________________ Ba
85 1864
250 &c
Cons M (for $25,000,000) guar D L & W ___U s.c*& r
119 1875
1,000
First ref M gold $35,000,000 guar p & 1 (end) .F .c* &r
119' 1900
1,000
Special real estate bonds.................................... ...............
..... ... Var.
__Morris & Essex E xtension stock guaranteed 4 % ____ >______ 2 ____
lo o
O R G A N IZ A T IO N .— The .Southern Pacific Co. owns all o f the $15,000,000
stock, but road operated independently. D ividend, 6 % , paid in 1905-06
in year ending June 30 1906v gross, $5,161,954; net, including other in
com e, $1,833,570; surplus over charges, $1,178,475.— (V . 76, p. 543.)
MORRIS & ESSEX R R .— (See M a p of Delaware Lackawanna & Western.)
— Owns from H oboken, N. J ., to Phillipsburg, N . J ., 85 miles; branch
Denvllle, N. J ., via Morris & Essex Tunnel, to H oboken, N. J ., 35 miles;
leases 37 miles; total operated, 157 miles.
LE A S E D In perpetuity to Delaware Lackawanna & W estern, which
assumes all liabilities and guarantees 7 % per annum on stock.
B O N D S .— O f the $35,000,000 1st refunding 3 54s, $23,400,000 were re
served to retire existing bonds and $11,600,000 were applicable to additions.
V . 70, p .480, 477; V . 71, p. 1167. Guaranty, V . 74, p. 1308.
E A R N IN G S .— Im portant to D . L , & W . with terminal facilities on N .Y .
H arbor, but the earnings show a deficit after paym ent o f rental (Including
$1,050,000 divid en d s), v iz.; Ill 1906, $891,845; in 1905, $585,394; 1904,
$673,172; 1903, $449,121; 1902, $595,976.— (V . 74, p. 1308; V .8 2 , p. 805.)
M ORRISTOW N & ERIE R R .— Owns M orristown, N . J .. to W hippan y,
4 m .; branches, 9 % m . A consolidation In A ug. 1903. S tock, $400,000,
ail outstanding; par o f shares, $100. Bonds are subject to call for s. f. at
a n y tim e . Year ending Dec. 31 1905, gross, $48,469; net, $11,313. Pres
R . W . M cEwan, 11 B roadw ay, N. Y .— (V . 77, p. 511.)
MOUNT CARBON & PORT CARBON R R .— Owns Mt. Carbon to Port
Carbon, P a ., 3 m .; 2d track, 2 ^ m .; total track, 16 miles. Leased March 5
1860 for 50 years to Phila. & R ead. R R . and lease assumed In 1896 b y
Phila. & R ead. Railway. R ental, $36,2&0 yearly.
MUSCATINE NORTH & SOUTH R Y .— Muscatine, Iow a, to Elrick, on
ow a C ent., 28 m ., with which it has traffic con tract. V . 76, p. 654. In
corporated in March 1905 as successor o f the railroad o f same nam e, fore
closed on Dec. 15 1904. In A pr. 1907 details o f new securities had not been
arranged. S tock, $450,000; par, $100. Year 1905-06, gross, $60,698;
net, $3,220.— (V. 79, p. 2697, 2796; V . 80, p. 1059.)
MUSKEGON GRAND R A P ID S & IN D IA N A R R .— Owns road. Grand
Rapids to Muskegon, M ich., 37 m .; trackage, G. R . & Ind. at Grand R apids,
3 miles. Operated b y G. R . & Ind. R R ., which was foreclosed in 1896;
consideration, net earnings. Stock authorized, $350,000; par, $100; Issued,
$1,000. Coupon o f Jan. 1906 paid In Dec. 1906. Earns, for year ending
Dec. 31 1906, gross, $161,151; net, $42,854; Interest on bonds, $37,500;
rentals, & c., $6,029; b al., d ef., $675.— (V. 82 p. 219; V . 83, p. 213, 1591.)
NASHUA & LO W ELL R R .— Owns double track road from Lowell, Mass.,
t o Nashua, N . H ., 15 miles. On O ct. 1 1880 leased for 99 years to Boston
<fc Lowell. In 1887 lease was transferred to Boston & Maine, which pays
a rental of $73,000 (9 % on stock); in N ov. 1906 54 % extra was paid from
accum ulated cash surplus.— (V . 83, p. 970.)
N ASH V ILLE CHATTANOOGA & ST. LOUIS R Y — (See M a p .)— Owns
from Chattanooga, T enn ., to H ickm an, K y ., 320 m .; branches to L ebanon,
& c., 515 m ; leases W estern & A tlantic, Chattanooga, T enn ., to A tlanta,
G a., 137 m ., and Memphis & Paducah Division o f the L. & N ., 254 miles.
See V . 71, p. 544, 664, 864. Total operated July 1 1906, 1,226 miles.
O R G A N IZ A T IO N .— A m ajority o f the stock ($7,177,600) Is owned b y
the L ou. & N ash., of which $5,501,500 Is pledged under Its unified m tge.,
e tc., so that the systems are operated in harm ony. W est. & A tl. is leased
from State o f Georgia till D ec. 27 1919 at $420,012 per annum.
D I V I D ’S .1'89 t o ’92
’93 ’94 ’95 to ’98 '99 t o ’03 ’ 04 ’05 ’06 1907
■ince 1 8 8 8 .. / 5 yearly.
3 K 354 4 y ’rly.
N one.
4
5
5
6
B O N D S.— The T racy C ity branch 6s fall due $20,000 yearly on Jan. 1 to
1916 Inclusive, and $100,000 on Jan. 1 1917.
Consolidated m tge. o f 1888 provides that all prior bonds shall be paid off
at m aturity; sufficient o f the $20,000 p. m . are reserved for th e m . In 1905
the rate on future issues was reduced to 4 %. V. 81, p. 1044.
J ointly with Lou. <5e Nash, guarantees $2,500,000 L. & N. Terminal Co.
bonds. See Lou. & Nash. V . 75, p. 1354. G uaranty o f $21,000 A etna
Iron , M fg., Mining & Oil 6s. V . 77, p. 2390.
L A T E S T E A R N 'IN G S.— July 1 to May 31 (11 m onths):
11 M o s .—
Gross.
Net.
Interest, &c.
B a l., Sur.
1906-07................ ..$1 1 ,1 2 4 ,6 7 5
$2,298,324
$1,642,484
$655,840
190 5 -0 6___________
9,992,401
2,479,156
1,641,506
837,650
A N N U A L R E P O R T .— R eport for 1905-06 was In V . 83, p. 815.
Years ending June 30.
1906.
1905.
1904.
1903.
Mileage end o f year..........
1,226
1,226
1,201
1,195
Gross earnings-................ $11,120,982 $10,113,057 $10,206,022 $9,606,370
N e te a r n in g s ...................
2,766,069
2,560,407
2,624,992
2,610,766
Investm ents, &c _______
18,455
18,930
18,297
22,065
Net In co m e __________ $2,784,524
Interest on debt and tax $1,169,670
R e n t a ls ________________
624,862
M iscellaneous__________
36,000
D lv .o n s t o c k ___________ (5)500,000
$2,579,337
$1,174,734
625,878
36,000
(5)500,000
$2,643,289
$1,183,286
625,878
66,000
(4)400,000
$2,632,831
$1,183,473
625,878
26,000
Balance, surplus_____
$453,992
$242,725
$368,126
$797,480
P res., John W . Thom as Jr.; V ice-P res., H . F. Smith; Chairman o f Board.
E. C. Lewis.— (V . 82, p. 510; V . 83, p. 376, 815; V . 84. p. 103.)
N ASH V ILLE * DECATUR R R .— (See M a p Louisville & Nashville.) —
Owns from N ashville, T en n ., to Decatur, A la ., 119 miles.
Re-leased to
L ou. & Nash. In 1900 for 999 years, the rental being 7 54 % on stock. The
L ou. & Nash. July 1 1906 owned $1,979,600 o f the stock .— (V . 70, p . 1195.)
N ASH V ILLE TE RM IN A L R R .— Owns bridge across the Cumberland
R irer and 18 m. of track. Leased for 99 years from May 1 1902 to Tenn.
Cent. R R ., which owns entire $1,000 000 stock.— (V 74, p. 577, 830.)
NATCHEZ & EASTERN R Y .— U nder con struction from N atchez, Miss.,
easterly to B rookhaven, 66 miles, to be com pleted during 1907. Connects
at Brookhaven with Mississippi Central, controlled b y same Interests.
B onds are guaranteed, principal and Interest, b y U nited States Lum ber C o.;
they are redeem able at par on Dec. 1 1908 or any interest day thereafter
V . 85, p. 99, 160.
[V o l.
IN T E R E S T OR D IV ID E N D S .
Rate
%
When ' Where Payable, and by
Payable.:
Whom.
lxxxy.
Bonds— P rinci
pal, When D u*.
Stocks— Last
Dividend.
900.000
4
J
& J J P Morg & C o ,N Y ; &Lon July 1 1907 2 %
600.000
J
& J J P Morgan & Co, N Y July 1 1945
5 g
1,200,000
4
J
& J'
do
do
July 1 1945
3.964.000
J
& J Trust Co. o f A m er, N Y Jan 1 1953
5 g
4.000.000
J
& Ji
See text.
July 1 1953
5 g
168,000
Q— J ;............................................... T o July 1910
4H g
6,070,600 See text. See te x t. Mobile
June24’07 2 54 %
7.000.000
6
J
& D 1Farmers’ L & Tr C o , N Y D ec 1 1927
1.000.000
Q— Jan I
do
do
July 1 1927
6 g
9,471,555
M & S Gallatin Nat Bank, N Y Sept
1938
4g
4.000.000
5g
F & Al
do
do
Feb
1947
2.497.000
Q-—F Guar Trust C o , New York May
1930
4 g
4.000.000
J
& J Farmers’ L & Tr Co, N Y Jan
1931
4 g
200,000
M & N First Nat Bk, Mobile. Ala May
5 g
1949
61,000
5-6 I Various Farmers’ L & Tr Co, N Y| T o 1908
5
1.000.000
Various
do
do
1919
926,978
t o 5 Various ____________________ _____ T o 1908
712.000
M & S B la lr & Co, New York
5
Sep ’07-Mar ’ 11
4
539.000
J
& J Guaranty Trust Co, N Y
824.000
4 54 g M & S Guar Tr Co, New York iSep '07-Mar ’ 16
See text.
5
A & O Guar Tr Co, N Y or St L A pr ’08-Cot '14
105.000
_________ Equitable Trust Co, N Yl T o June 15 1912
301,931
5
j Q— J !First N ational Bank,Mob T o 1909
2.500.000
M & S Knickerbocker Tr C o,N Y Sept 1 1991
4 g
3.900.000
3H g M & S Grand Cent Station, N Y Mar 1 2002
1 428,000
3H g A & O;Philadelphia, Pa
O ct 1 1942
I
See text.
J
& J Central Trust Co, N Y
5 g
July 1 1930
5
130.000
M & N Goshen, N Y
May 1 1926
1.200.000
|J
& J;U S Mort & Tr Co, N Y Jan 1 1943
5 g
5.000.000
7
A
& O S P C o, 120 B ’w ay. N Y April 1 1918
1.494.000
& J
do
do
6 g iJ
July 1 1920
1.000.000
5
jj
& j|
do
do
July 1 1913
15,000,000
7
J
& J Del Lack & W estern,N Y July 1 ’ 07 3 54 %
5,000,000
7
M & Nj
do
do
May 1 1914
11.677.000
7
J
& D
do
do
June 1 1915
12.600.000
D ec 1 2000
3 H Pi J
& D
do
do
1.800.000
4 5^ J
& j!
do
do
1912
221.000
4
M & N
do
do
May 1907 2 %
N ATIONAL R A IL W A Y S OF M EXICO.— T o own or control the N ational
R R . of M exico system (Including Mexican International and Interoceanic
o f M e x ico ), the Mexican Central, and p robably other roads. The Mex. G ov.
will have con trol through an absolute m ajority o f the entire stock (see V . 85,
p. 99, and item V . 84, p. 51, under M ex. Central R y .) The new com pany
will have $150,000,000 authorized com m on, $60,000,000 first preferred 4 %
non -cu m ., and $250,000 second pref. 5 % n o n -cu m . pref. stock. $462,000 000
pref. 50-year 4 54 % , and $372,000,000 general m ortgage 70-year 4 % bonds
(all expressed In M exican cu rrency), the latter to be guaranteed, principal
and interest, b y the Mex. Gov. The pref mtge. bonds are to be redeemed
b y a sinking fund beginning in 1917 and all to be retired thereby, or other
wise, on or before 1957 (the com p any, it is stated, m ay make arrangements
for the "re fu n d m e n t” o f the bonds at a premium not exceeding 5 % ). The
general m ortgage bonds are to be redeem able at par, beginning in 1937 and
all to be redeem ed b y 1977. CommonQ and second pref. will be entitled
pro rata to all dividends over 4 % on first pref. and 5 % on second pref.
A syndicate will b u y the bonds and offer them in exchange to the holders
o f the present securities o f the Mex. Cent, and Nat. R R . o f M ex. Ladenburg, Thalm ann & Co. and Speyer & Co. will have charge o f the financing
o f the con solidation.— (V. 83, p. 1470; V . 85, p 99.)
N ATIONAL R R . OF M E XIC O .— (See M a p .)— Operates:
Standard Gauge— Owned.
M iles.
Narrow Gauge— Owned.
M iles.
Laredo to City o f M exico______ 802 City o f Mexico to U ruapan____ 313
Santiago to Tacuba (3-rail track)3 Acam baro to Gonzales_________
58
Colonia to Tacuba (3-rall track)
3
Leased—
Cintura line (3-rail tra ck )_____
3 Michoacan & Pacific R y ., M&San Juan Jet. to Jaral_________
50
ravatlo to Zltacuaro_________
57
Vanegas to Matehuala_________
40
Rincon to P ozos_______________
37
T otal lncl. In earnings______ 1,882
Monterey to M atam oros_______
205
Controlled— Earnings separate [see
O t h e r ...............................................
155
separate statement for each).
Controlled— Secur. owned.
Mexican International R R ____ 911
Texas Mexican R y ., Corpus
Interoceanic R y . o f M exico____ 736
Chrlstl to Laredo, T ex , etc. 162
Total standard gauge_______ 1,305|
Grand total A p r. 1 1907____ 3 ,F29
The Mexican International R R .. controlled b y ownership o f m ajority
o f stock, extends from connection with the Southern Pacific at Eagle Pass,
T e x ., to Durango, M ex., and to N at. R R . o f Mex at M onterey, & c., 911 m .
In March 1906 the H idalgo & Northeastern, 152 miles (narrow -gauge),
with branches, was acquired. V . 82. p. 751. 869, 1380; V . 83, p. 1120.
The National Co. acquired the £1.038,400 Interoceanic R y . o f Mex. 2nd
deb. stock, the latter, with preference and com . shares owned and since ac
quired, giving practical con trol, thus securing for the National a line from
M exico to Vera Cruz and an outlet to the Gulf o f M exico. (See below.)
O R G A N IZ A T IO N .— Incorporated In Utah on Feb. 24 1902 as successor
without foreclosure o f Mexican N at. R R ., per plan in V . 73, p. 784.
M E X IC A N G O V E R N M E N T , & c.— In June 1903 the Mexican G ov. pur
chased for $9,000,000 about 47% o f the entire outstanding stock (see V . 76,
p. 1301; V . 77, p. 451: V . 77, p. 1225, 2159.
In July 1907 consolidation o f the National R R . of Mexico and Mex. Cent.
R y . was pending. See N ational R ys. of M exico, above. V . 83, p. 1470;
V . 85, p. 99.
S T O C K .— Com . stock was $33,350,000, and pref. (now 1st p re f.), 4 %
non -cum ., $32,000,000, all issued, o f which $3,167 075 In treasury June 30
1900. In O ct. 1903 the com . stock was m ostly exchanged for new 5 % noncum ulative 2nd pref. stock (total issue to be $22,233,333) and deferred stock
(total issue to be $11,116,666) at the rate o f tw o shares o f 2nd pref. and od c
share o f deferred for every three shares o f com . stock , per plan V . 76, p.
1192. Outstanding, 1st p re f., see above: 2nd pref., $22,031,600; deferred,
$11,015,800; com m on, $302,600; par o f shares. $100 each. First pref. to
get 4 % , then 2d pref. 5 % , then 2d. pref. and deferred share pro rata.
D IV ID E N D .— On first p ref., 1 % , A ug. 1906; F eb. 1907, 1 % . I
B O N D S .— The prior litn bonds can be Increased above >23,000,000 only
to refund, $ for $. Mexican Internat. R R . p r'or lien bonds, now $5,850,000.
The new Issues o f bonds are secured b y a 1st and 2nd lien respectively on
all the property o f the com p any now owned or provided for under the re
adjustm ent and the El Salto extension when constructed, and also upon the
securities o f the Texas Mexican R y ., and the consol, m tge. has also a 1st lien
on $15,786,100 o f the $20,708,200 capital stock and all o f the $4,499,000 In
com es o f Mexican Internat. O f the $25,449,000 consols Issued. $1,059,000
June 30 1906 were In treasury or pledged for gold notes o f 1903.
O f the Mexican Internat. consol 4s, $6,501,000 are guaranteed, prin
cipal and interest. See that com p a n y’s statem ent; also V . 75, p. 77.
G E N E R A L FIN A N C E S .— In 1903 $8,500,000 tw o year (extended In
1905) 5 % notes (authorized Issue, $10,000,000), were sold to pay for con trol
o f Interoc. R y . T hey are subject to call at par on 60 days notice; denom i
nations, $1,000 and $5,000 each. They are secured b y deposit o f £1,038.400
Interoc. R y . o f Mex. 2nd deb. stock, £1,251,830 ordinary and £102,000 7 %
cum . p ref.stock, $3,000,000 Mexican Internat. 1st consols (stam ped guaran
teed) and $1,050,000 N at. R R . o f M ex. 1st consols. The remaining $1,500,000 notes m ay be Issued on deposit o f additional security. In A pr. 1906
final $3,000,000 prior lien bonds were sold to pay for the H idalgo & N orth
eastern R R . V . 82, p. 869, 1380.
E A R N IN G S .— 11 m o s..l 1906-07___Gross, $14,468,339; net, $5,206,606
July 1 to May 31.
/1 9 0 5-0 6 ___Gross, 12,658,782; net, 4,864,659
A bove figures are In Mexican currency. See also V . 77, p. 1225.
A N N U A L R E P O R T .— Fiscal year now ends June 30. R eport for 6 m os.
ending June 30 1906 (see below) was In V . 83, p. 1091, 1119; ed it., p. 1069.
Earnings for 6 m onths ending June 30 1906. gross (Mex. c u r .), $7,393,925,
against $6,110,346; net, $2,909,740, against $1,967,556; net earnings (U. S.
cu r.), $1,454,870; other Income, $195,747; total net Income, $1,649,617;
in t., & c., $1,219,824; div. on pref. (1 % ) , $288,329; b al., sur., $141,464
Earnings for 6 m onths ending Dec. 31 1906, gross (M ex. cu r.), $7,379,959, against $5,645,375 in 1905; net, $2,686,898, against $2,483,038; net
earninsrs (U. S. cur ) , $1,346,114; other Incom e, $27,335; total net incom e,
$1,708,147; interest, discount, & c., $1,259,310; bal., s u r., $448,837.
J u l y . L907.
RAILWAY STOCKS AND BONDS.
99
100
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on jfirst page of tables.
M iles Date
of
of
Road. Bonds.
Size, or
P ar
Amount
Value. Outstanding
M orriitow n & Erie— 1st M $300,000 gold sinking fund
$1,000
1903
___
Mt Carbon & Port Carbon RR— Stock (rental g u a r )..
50
Muni sing— First m ortgage g old ____ __ ________
____
38 1900
1,000
Muskegon Grand Rapids & Indiana— 1st M gO ld..C e
37 1886
1,000
Narragansett Pier RR— First m ortgage $100,000____
8.5 1896
1,000
Nashua & Lowell— Stock 9 % rental 92 years B & M
100
15
Nashville Chattanooga & St Louis— S t o c k __________
100
First m ortgage (for $6,800,00p)_______________ c*& r
340 1873
1,000
First M on Fayette and McM brs ($6,000 p m ). .c * &r
125 1877
1,000
First m ortgage on Lebanon Branch____________ _c*
29 1877
1,000
First m ortgage on Jasper B ranch. . ______ _ .C e.c*
43 1883
1,000
First m ortgage on Centreville Branch gold _Ce.c* &r
46 1883
1,000
First m ortgage on T ra cy City B ranch_________c*& r
20 1887
1,000
D uck R R R second m ortgage (now first mortgage) g
48 1881
Cons M ($20,000,000) $20,000 p m g o ld ____ Us.c*
l'.OOO
803 1888
Nashville & Decatur— Stock guar 7 K % b y L & N ____
25
119
Nashville Florence & Sheffield— See Louisville & Nash ville.
Nashville Term— 1st M gold int rent red 1 0 5 ____ ____
1902
1,000
Natchez & Eastern—-1st M $1,700,000 g red ..T a .c *
1907
1,000
National RR of Mexico— 1st pref stock (other see text)
100
Prior Hen M $23,000,000 gold call at 105____ Un.c*
1,443 1901
500 &c
First consol M $60,000,000 gold (see t e x t )____Ce.c* 1,663 1901
500 Sec
Collateral notes $10,000,000 gold red eem a ble...........
1903 1,000 &c
Naugatuck— See New York New Haven & H artford.
Nevada-California-Oregon— First M $1,500,000 g o l d ..
144 1899
1,000
Nevada Central— 1st M gold non-cum inc (sink fd ).C e
94 1888
1,000
Nevada County Narrow Gauge— First m ortgage____
223^ 1896
1,000
New England— See New Y ork New Haven & H artford
New Haven & Northampton— See New Y ork New Ha ven & H artfo rd.
New Jersey Junction— 1st M guar $ 4 ,0 0 0 ,0 0 0 ..G.c&r
5 1886
1,000
New Jersey & New York— See Erie R R Co.
New Jersey & Pennsylvania— 1st M $1,000,000 g o l d ..
26 1905
1,000
New London Northern— S tock __________
__________
121
100
Consol m ortgage (now 1st M) ($688,000 are 4 s ) ..c *
121 1880
1,000
W est R iver first m ortgage guaranteed prin & I n t ..
35 1905
100 1905 1,000 &c
New Orleans Great Northern— First M gold ___K .c*& r
New Orleans & North Eastern— Stock $6,000,000____
100
196
Prior Hen m ortgage g old __________________ .C e.c*
1,000
196 1885
First m ortgage gold _______ . ______ _______ F.c*
196 1881
1,000
__
_
__
__
_
__
__
__
.
_
E A R N IN G S Y E A R E N D . DEC.31.
1905.
1904.
1903.
A verage miles o p e r a t e d _____ - _______
1,712
1,586
1,452
Gross earns. (M exican cu rren cy)_____ $12,755,723 $11,569,248 $11,344,019
Net earnings (M exican c u r r e n c y )____ 4,471,068
3,864,576
3,709,430
N et earnings (U . S. cu rren cy)________ 2,219,094
1,786,884
1,563,086
IN COM E A CC OU N T— (U N IT E D S T A T E S C U R R E N C Y .)
1905.
1904.
1905.
1904.
Deduct—
$
$
$
$
48,868
24,563
Net earnings___2,219,094
1,786,884 Taxes & e x ch ___
In t.,dis& exch . .
21,659
5,046 In t. on bon d s___2,208,410 2,174,740
68,557
55,390
In t. on b d s., & c. 515,814
550,358 Int. on loans___
Texas-M exlcan
Gain on Mexican
R y . net earns.
32,319
m oney assets.
13,845
102,923
1,000,000
5g
See text.
6 g
32,000,000'See text
23,000,000
4H g
24,390,000
4 g
8,500,000
5g
1,700,000
ol. l x x x y
IN T E R E S T OR D IV ID E N D S .
Rale
%
When
Payable.
$250 000
M &
5 g
282,350
12
J & J
A &
160,000
4 g
750,000
&
J
5 g
4
F &
70,000
800,000 See text. M &
10,000,000 6 in 1907 F &
6,300,000
&
7
J
750,000
6
&
J
300,000
6
&
J
371,000
&
J
6 g
376,000
&
J
6 g
279,000
&
6
J
21,000
M &
6g
7,608,000
A &
5 g
3,553,750
&
J
7^
507,000
750,000
219,000
[Y
5 g
5 g
7
4
See text.
5 g
1,500,000
9
1,500,000 4 & 5
75.000
4
4.375,000
5 g
6,000,000 5 In 1906
1,320,000
6 g
100,000
6 g
Where Payable, and by
Whom.
S B rooklyn Trust Co, N Y
15 Reading Term inal, Phila
O Amer Trust Co, Clevel’d
J Jan 1906 paid D ec 1906
A R I Hosp Tr Co, P rov
N Indian H d Bank, Nashua
A New Y o rk and Nashville
J H anover Nat Bank. N Y
J
do
do
J
do
do
J
do
do
J
do
do
J
do
do
N
do
do
O
do
do
J Nashville
& J
J
J
& D
See te x t
J & J
A & O
A St O
Mercantile Tr Co, StLouls
New Y ork
Office, 60 W all St, N Y
Speyer & C o, New York
do
do
do
do
Bonds— P rin ci
pal, When D u e.
Stocks— Last
Dividend.
Sept 1 1923
July 15 ’07 6% .
Oct 1 1925
July 1 1926
A ug 1 1916
M ay 1 ’ 07 4 H %■
A u g 1 ’07 3%B
July 1 1913
Jan 1 1917
Jan 1 1917
Jan 1 1923
Jan 1 1923
Jan 1908 to 19
N ov 1 1909
April 1 1928
J ’ly 1907 3 H % .
Jan 1
June 1
Feb 11
Oct 1
Oct 1
Oot 1
1932
1910
07, 1 %
1926
1951
1907
M
J
J
& N Moran Bros, New Y ork
May 1 1919
& J See text
July 2 1938
& J W ells, Fargo & Co, S Fr T o 1924
F
&
A N Y Central & H ud RIv Feb
& J
Q— J
& J
J
J & D
F & A
Yearly.
A & O
& J
J
J
.
1 1986
Corp’n Tr Co, Jersey City Jan 1 1930
New L ondon Office,
July 1907 2>i %■
Bank o f North A m er, N Y July 1 1910
85 years
Fisk & R obinson, N Y
A ug 1 1955
New Orleans, La
Dec 1 1906 5 %
Central Trust Co, N Y
N ov 1 1915
Muller, Schall & Co, N Y Jan 1911
Yr. end. June 30—
Gross.
Net,
oth .in c.
Int. ,A c . Balance.
1905-06..............
$3,001,977 $773,844 $21,507 $394,255 $401,095
1 90 4 -0 5.............
2,563,776
657,054
14,065
406,995
264,124
^rom surplus paid dividend o f 5% ($300,000) in 1905-06. against 3 H %
($210,000) in 1904-05.— (V. 83, p. 1345. 1348; V . 85, p. 160.)
N E W O R L E A N S T E R M I N A L CO. — Owns extensive terminal property at
New Orleans and a belt railroad around the city , leased to the St. Louis 6$
San Francisco and Southern R y . for 99 years from July 1 1903, rental cov er
ing all expenses o f operations, maintenance and charges. Southern Ry.
and St. Louis & San Francisco each own half o f the $2,000,000 outstanding
stock ($5,000,000 authorized), and join tly guarantee the bonds. In A p ril
1907 $2,500,000 2-year 6 % notes, guaranteed b y tw o lessor com panies and
secured by $4,000,000 bonds, were sold. V . 84, p. 996. Pres., C. C„
H arvey. See V . 78, p. 343, 1447; V . 79, p. 1466; V. 81, p. 155; V . 83.
T o ta l_________2,770,412 2,445,211
T ota l................. 2,358,154 2,373,591
p. 272; V . 84, p. 508, 931, 996.
Surplus for year.......................................................................... 412,258
71,620
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 R Y . — Owns from
D IR E C T O R S .— Cleveland H . D odge, Adrian Iselln J r., J. N . W allace, Fresh P ond Junction to Manhattan Beach (Coney Isla n d ), and branches to
G ordon M acdonald, Joseph P. C otton J r., L. F. Loree, Cayetano R om ero, B ay Ridge and Greenpolnt, 18 miles, o f which 16 miles double track.
all o f New Y ork; Guillermo de Landa y Escandon, Julio M. Lim antour, E .N .
L E A S E , & c.— A consolidation A ug. 27 1885. Leased for 99 years from
Brown, Jose M. de Landero, Pablo M acedo, Santiago Mendez, M. M. R e y Oct. 1 1885 to the L ong Island R R . C o., which owns m ajority o f stock.
nolds. R oberto N unez, all o f C ity o f M exico.
R ental, Interest on bonds and 5 % on pref. stock. Comm on stock, $350,000.
O F F IC E R S .— Pres., E. N. Brown; V .-P ., D. P. Bennett; Treas., J. M. L . I. R R . has attached to the bonds Its unconditional guaranty o f princi
Frazier: C om p ., M. M. R eynolds; S ec.. A . Arriaga. N. Y . office, 60 W all pal and interest In addition to facts as to lease.— (V . 83, p. 1348.>
Street.— V . 84, p. 339, 996; V . 85, p. 99.
N E W Y O R K C E N T . & H U D . R I V E R R R . — (See M a p s, pp. 96, 97.)
Lines owned.
M iles.
Operated under contractN E V A D A & C A L I F O R N I A R R . — V . S I , p . 1242,
441 Terminal R y . o f B uffalo*____
New Y ork to B uffalo_________
11
N E V A D A - C A L I F O R N I A - O R E G O N R Y . — R en o, N e v ., to Madeline, C al..
B
ra
n
ch
e
s
_____________________
368 St. Lawrence & A d iron d a ck *.
56
144 miles; extension proposed to Lake V iew , O re., 95 miles, o f which Made Proprietary lines__________
3 Cherry Tree & D ixonvllle____
36
line to Likely, 20 miles, com pleted at end o f 1906 and 20 m. from L ikely to
Lines leased. (*See this co.)
T ra ck a g e ......................................
235
Alturas to be built In 1907. The Sierra V alleys R R ., Plumas to M ohawk, W est
h o re * _________________
479
C al., 37 m ., is controlled but operated independently. V . 79. p. 2641. T roy S
& Greenbush*__________
6
T otal in earnings___________ 3,784
S tock , com m on, $1,450,000; preferred, $750,000, all out.
Spuyten D uyvil & P t. M .* ___
6
Controlled— Operated Separately.
E A R N I N G S .— 11 m o s .,! 1 9 0 6 -0 7-......... Gross, $241,744; net, $132,405
New Y ork & H arlem *_______
137
Lake Shore & Mich. S o .* _____ 1,520
July 1 to May 31.
J1905-06______ Gross, 207,086; net,
92,607
New Jersey Junction*_______
5 Michigan Central*____________ l ,748
R ep ort for year 1905-06 was in V . 83, p. 1345, showing, gross, $229,128;
R om e W atertow n & O g d e n * ..
624 j Lake Erie Alliance & W heelnet, $104,361; other Incom e, $19,880; Int., taxes, & c., $49,193; im prove Mohawk & M alone*__________
182
ing.............. ................................
8»
m ents, $490: bal., sur., $74,558. Pres., D. C. M oran, 68 W illiam S t., Carthage & A dirondack*_____
46 N . Y . Chic. & St. Louis R R .*
628
New Y ork .— (V. 79, p. 2641; V . 81, p. >607; V . 83, p. 1345.)
Gouverneur & Oswegatchle* . .
13 ILake Erie & W estern*_______ 1
New Y ork & P utnam *________
5 9 1Northern O hio*_______________ ; 886
N E V A D A C E N T R A L R R . — Battle M tn., N ev., to A ustin, N e v ., 94 m .,
393
Boston & A lb a n y *___________
" B ig F our” S y s te m * ............... 2,334
narrow-gauge. S tock, $750,000. No interest paid on bonds b y railroad
128 Chicago Indiana & Southern*_
400
for m any years; 4 % was from earnings on hand June 30 1906. V . 83, p. New Y ork & O ttaw a*_______
231 Cincinnati N orthern*_________
241
1291. In N ov. 1906 the N evada Central R y. was incorporated in New Jer Fall Brook R y ., & c .* _ .______
163 Dunkirk All. V al. & P i t t s .* .. .
91
sey with $750,000 stock to purchase the securities o f the railroad; transac Beech Creek R R .* .....................
Pitts. & Lake Erie system *___
191
tion not com pleted to Jan. 12 1907. V . 83, p. 1291. Earnings for 1905-06, Beech Creek E xtension R R .,
e t c . * ......................... .................
128 Rutland R R _________________
468
gross, $61,250; net, $30,168; int. on bonds (4% p a id ), $30,000. Pres., J.
W allklll V alley ...........................
33
G. Phelps-Stokes.— (V. 83, p. 1291.)
Total owned and controlled Jan. 1907 (327 miles 4 -track ed )..........12,277
N E V A D A C O U N T Y N A R R O W - G A U G E R R . — C olfax to N evada C ity,
In July 1906 control of the Little Falls & Dolgevllle R R ., 10 miles, waa
C al., 22 H miles. S tock, $250,200; par o f shares, $100 each. Dividend o f 5 %
acquired. V. 83, p. 272. In Dec. 1906 the Chicago K alam azoo & Saginaw
(fourth since organization) was paid D ec. 1903; In 1904, M ch., 5 % ; N o v .,
5 %: In 1905, S ept., 5 % . Bonds are payable in annual Instalments increas R y ., Pavilion to W oodbu ry, M ich., 55 miles, was purchased. V. 84, p. 52.
Also controls Lake Erie & Pittsburgh R y ., com pleted from Lorain, O .,
ing from $4,000 in 1902 to $20 000 in 1924, Year 1905, gross, $127,253;
net. $40,018; Interest, $15,750; lm p rovts., bonds redeem ed, & c., $7,830; southeast to Berea, 13 miles, and to be extended to Cleveland and Youngs
dividends ( 5 % ), $12,510; b a l., surplus, $3,928. Pres., Mrs. S. A . K idder, tow n, making about 120 miles In all. V . 83, p. 1037
Grass V alley, Cal.— (V . 79. p. 2796.)
H IS T O R Y , & c.— Control o f the Lake Shore and Michigan Central roadB
was acqured In 1898, as stated below. Their earnings are reported sepa
N E W J E R S E Y J U N C T I O N R R . — Terminal road through Jersey City,
H oboken and W eehawken, about 5 miles. Leased for 100 years from June rately, but the dividends on their shares held by the Central are included in
30 1886 to N . Y . Central, which guarantees the bonds absolutely and owns the item “ otner Incom e,” offset in part b y Interest on the collateral bonds
1 sued for their purchase. V . 71, p . 502; V . 78, p. 48.
$100,000 stock. Connects with N ational D ocks R y .
In 1900 Vanderbilt interests acquired a large block of C. & O. R y. stock.
N E W J E R S E Y & N E W Y O R K R R . — See page 178.
V. 70 p . 76, 125, 1049. H oldings o f Vanderbilt estate, V . 71, p. 1221.
N E W J E R S E Y & P E N N S Y L V A N I A R R . — See page 178.
N. Y . & Ottawa was acquired at foreclosure D ec. 1904 and in Jan. 1905
control o f the R utland and St. Lawrence & A dirondack. V . 79. d . 2589
N E W L O N D O N N O R T H E R N R R . — Owns from New L on d on , C onn., via
2648, 2796; V . 80, p . 222, 1240; V . 82, p . 934.
B rattleboro, V t ., to South Londonderry, V t ., 158 miles.
Since 1906 the subsidiary lines, with tne exception o f the N .Y . Chicago
LE A S E D for 99 years from D ec. 1 1891 to Central Verm ont. The rental is
$213,552'per annum, which leaves a small surplus after providing for Inter & St. Louis, are known as the “ New York Central” lines. V . 81, p. 1792
Has an option until Dec. 31 1907 on the controlling Interest in the New
est, & c., and 9 % dividends. Taxes and im provem ents met b y lessee, with
Y ork Ontario & Western stock held by the New York New Haven & H art
out claim on New London Northern.
D IV ID E N D S .— 1888 to April 1892, 7 % yearly, then 8 % yearly to 1893, ford, vi7.: $29,160,000 o f the $58,118,982 com m on and $2,200 o f th e
$4,000 preferred stock. V. 84, p. 1428; V. 85, p. 40.
and since to Ju ly 1907 (incl.), 2 H % quar. (9% per a n .)— (V. 76, p. 1301.)
ST O C K .— Dividends on stock registered In L ondon are payable In gold
N E W O R L E A N S G R E A T N O R T H E R N R R . — (See M a p .)— Slidell, L a.,
northward into Mississippi, 65 miles; Pearl R iver to Folsom , L a ., 37 miles; at 49j^ d . to dollar.
In 1902 $16,912,900 new stock was subscribed for by stockholders pro rata
branch to Mandeville, 12 miles; trackage, Slidell to New Orleans, 29 miles;
at $125 per share. In Dec. 1905 $17,192,500 stock at par. V. 81, p. 14 93.
total operated, 143 miles. Building to Jackson, Miss., 152 miles from
Stockholders voted April 18 1906 to Increase the limit o f authorized stock
Slidell. Distance from Jackson to New Orleans, 180 miles. Branch line from
$150,000,000 to $250,000,000.
nearing com pletion, 41 miles, via Franklinton and T ylertow n, connecting
Stockholders in 1906 subscribed at par for $29,839,560 new stock.the p ro
with the Illinois Central at Fernwood, Miss. A branch, 29 miles, under con ceeds
to be used for im provem ents, rolling stockand terminal im provem ents
struction from Slidell, L a., to A blta Springs, L a ., via Mandeville. T otal
in New Y ork , raising the amount outstanding to $178,632,000
The
operated to be about 290 miles. Traverses valuable pine tim ber lands.
new stock will receive all dividends declared after Jan. 15 1907. V 83
V . 80, p. 998, 1235, 1913. This com p any purchased East Louisiana R R .
p.
688,
818,
1037.
S tock, $2,500,000.
D IV ID E N D S .— ’93. ’ 94. ’95. ’96-98. *99. 1900 to Oct.'Oe. 1807
Bonds. $10,000,000 authorized (see table a b ov e), all (except $5,000 000
5 4>i 4 y ’rly 4 5 yearly (Q .-J.) I n c J l y 4 K
Issuable for terminals, equipm ent, bridges, &c.) are limited to $30,000 per Since 1 8 9 1 -------- % 5
B O N D S.— R ef. mortgage is for $100,000,000. of which $73,346,000 was
mile o f single and $45,000 per mile of double track. See V . 81, p. 841.
to retire $70,377,000 old bonds and $11,654,000 for general purposesO F F IC E R S .— P res., Charles W . G oodyear; 1st V .-P . and Gen Counsel, Issued
M. E. Olm sted; 2d V .-P . and S ec., C I. James; Treas., F. A . Lehr, Gen. remainder ($15,000,000) is reserved for new construction. V. 7 7 , p 452
Collateral trust 3 H s o f 1898 are secured b y deposit o f stock o f the L ake
M gr., N. G. Pearsall. Directors: Messrs. G oodyear, Jam es, Olm sted,
Shore & Michigan Southern and Michigan Central R R s. at the rate o f $100
Pearsall, James D . L acey and E. H . Farrar.— (V . 84, p. 1367.)
o f L . S. & M. S. stock for each $200 o f bonds and $100 of Mich. Cent stock
N E W O R L E A N S & N O R T H E A S T E R N R R . — New Orleans, L a ., to Mer
for each $115 o f bonds outstanding. The total authorized Issues of 3 M b
idian, Miss., 196 miles. S tock , $6,000,000 (par, $100), o f which $5,320,000 are $100,000,000 for Lake Shore and $21,550,000 for Michigan Central.
and $4,955 000 gen.
and $1,500,000 Incomes were held in Jan. 1907 by
See V . 66, p . 288, 336. 760, 811.
B
A la. New Orleans Texas & P ac. Jet. R y .
In 1904 $50,000,000 4 % debentures were authorized, o f which $30,000,Reorganized In 1902 per plan in V . 74, p. 681 Dividend on stock 1903 000 were sold. They are to be secured b y any new m tge., but existing
and 1904, 3 % each; 1905, Dec. 1. 3 J^ % ; 1906, 5 % .
O f the gen. 4
mtges. m ay be extended. V . 78, p. 1907,1962, 2384; V . 7 9 , p. 1335, 2148.
$1,320,000 are reserved to retire the remaining prior lien bonds and $1.198.
G U A R A N T IE S .— The com p any guarantees the securities o f Its leased
000 for future requirements. Equipm ent notes o f 1906, V . 82, p. 987.
lines to a considerable aggregate— see separate statement for each com pany
E A R N IN G S .— F or 11 Vj m onth sending June 7 1907, gross, $3,044,223, m arked with a • In the table o f mileage preceding. It also guarantees
against $2,789,476 in 1905-06. R eport for 1905-06, V . 83, p. 1345.
W estern Transit C o. 3>4s for $1,000,000 due February 1923
J u l y , 1907J
101
RAILWAY STOCKS AND BONDS.
Tallulah
v\c*s- Forest.
Clarksburg
VICKS.
Delta
Brandon
Colon
Montrose
.Florence
U tica
Ra le ig h®
,Ingleside
B raxton
Conway.
St. Joseph
Bay Spring
Crystal Springs/
Herm ansville
>rt G ibsonfo
Hosey'
Martin.
Hazlehurst
SH IP
G ita n o W ^ ^ ,
C layton
Martinsville
H arristoa
F ayette
Laureli
Ellisville
ITHS
Sannonsbnrg
\
j
Melrose Jfi
Silver Creekj
\
{ H am burg
N AT C H E Z
M O N TIC ELLO
Tuscanola.
Blountsilie"
•Hutchins
M onroe
Epley
Iforthfield
[Ruth
Coles
Gloster
FERNWOOD
Liberty] o
M agnolia
> T YL ER TO W N
tys CreeiS.
Baxterville1
)W h i t a k e r
Turnbull,
R ichburgrf,
ilum bia
M cC om b City:
Tatum
W oodvllle
Hattiesbur)
N ew gan ^
Sum m it
Talawah
Lum berton
Batson.
M axie
K entw ood'
Norwood
■
/
Varnad
'Wakefield
Poplar,ville.
F ra n k lin to n
J a c k s o n 'S ^
tx
McManus
W iggins'
B0i@A1>US'A|
Perkinston
Ethel
/ M cCluneS
Slaughter
Kewroads'
/
/L a c e y
W orth a m i
H am m ond
Aifords'
COV1NGTQN
Nicholson
BATON ROUGE
Warir.goula'
W arw ick
Springville
e a 'r l r i v e r
G ulfport
IN S D N
B aton R ou ge J c > l
B a y St. i&aipfjmgs
Lake 3
M c m re p a st
Indian V illage’
W h ite Castle
Donald son vili?
Grand
Lake
EW O R L E A N S ^
JlapoiocnwiUe
►^Chalmette JjM jm
Vallier,
Avqndale
< / , TT?<>
„ 'rShell Beach.
’c/VkThibodaux
.Frank!
Gibson
Kacelaod J c.
Patterson
Morgan City
Raceland
Belair
Central
;ouma
M yrtle Grove
Buras
NEW ORLEANS GREAT NORTHERN
RAILROAD
N O W U ND ER C O N S T R U C T IO N .
,
SAHA T'AHlA
I BAY
102
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
lxxxy
.
Bonds— P rin ci
pal, When D ue.
Where Payable, and by | Stocks— Last
Dividend.
Whom.
IN T E R E S T OR D IV ID E N D S .
Size, or
M iles : Date
Amount
Par
of
of
Road. Bonds. Value. Outstanding
New Orl & N E— (Concl.) — Gen M 58,000,000 g . .F .c*
Incom e m ortgage (non-cum ) $1,500,000 g o ld ..N .r
Equipm ent notes gold due $39,000 sem i-annually. New Orl Term— 1st M $15,000,000 gold guar_S.c*& r
Notes guaranteed g o ld ____________ ______________ l a
N Y Bklyn & Manhattan Beach— Pref stock n on -cu m .
First cons M (now 1st M) gold guar b y L I — Ce.c*
N Y Cent & Hud River— Stock ($250,000,000 auth) Tr
R efunding m ortgage $100,000,000 g o ld — Ce.c*&r
Coll trust gold ($100,000,000; Lake Shore stk.G.c* &r
do
~ do
($21,550,000) Mich Cent stock -G
Debentures (V 69, p 1102; V 71, p 502, 9 64 )______
Debentures 550,000,000 g o ld _______________ U s.c*& r
N otes $25,000,000 _____________________ _______ c*&r
N Y Chicago & St I,— 2d pref stock (5 % non-cum )
First preferred (5 % non-cum ulative)------------------- First m ortgage gold sinking fund not draw n.C e.c* &r
Equip trust " B ” gold $23,000 due yrly Feb 15.Cec&r
Equipm ent notes $20 000 due semi-annually______
Debenture bonds, $10,000,000, g o ld --------------------- G
N Y & Greenwood Lake— Prior lien M guar p & I.N gxc*
New York & Harlem— Comm on 1 4 % , 10 % guaranteed
Preferred stock 14 % , 10 % guaranteed.........................
R efunding M (now first) $12,000,000 g o ld -.G .c * & r
N Y Lackawanna & W estern— Stock guar 5 % (end. _
First m ortgage guar b y Del Lack & W estern --F .c*
Construction m ortgage guar b y D L & W (en d )-F .c*
Third M Term Im p ($5,000,000) guar p & i (e n d )-.F
New York Lake Erie & W estern— See Erie R R .
N Y & Long Br— Gen M (now 1st) $2,500,000 g -.C e .c *
New York New Haven & Hartford— Stock (see t e x t)...
D eben (probable right to exchange; V 82, p 1439) D ebenture ($5,000,000 are 4s) n o n -con v ertib le..c& r
Deb (for Cent N E & W ) g non -conv (V 78, p 768)
Debentures (for F H & W) (V 78, p 2335)_________
Debentures (fo rN Y Ont & W est) (V 80, p 2 4 5 8 )..
Debentures convertible (see t e x t ).........................c*& r
Includes (a) $208,000. (b) $50,000 In treasury o f El
196
196
809
53
146
146
136
214
214
214
214
38
Rate
%
I When
i Payable.
,322,000
4^gJ
& J Farmers’ L & Tr C o, N Y Jan 1 1952
July 1 1952
,500,000 Up to4 Yi % g (If e arned) on Dec 1
O ct ’07-Apr ’ 13
468.000
4 H g A & O Franklin Tr C o, N Y
Standard Trust Co, N Y July 1 1953
&
,000.000
4 g :J
Trust Co o f A m erica, N \ A pr 10 1909
A &
,500,000
6g
Apr ’07 2 H %
A &
Checks m ailed.
100
650.000
5
U S Mort & Trust Co, N Y O ct 1 1935
A &
.726,000
1,000
1885
5 g
100
,632,000 See text
Q— J Grand Cent Station, N Y J u ly l5 ’ 07 I X %
July 1 1997
&
do
do
,000,000
1897 1 .0 0 0 &c
3 Yi g[J
Feb 1 1998
do
do
,578,400
1898 1 .0 00 &c
3 H gtF &
Feb 1 1998
do
do
,336,445
1898 1.000 &c
3 H g!F &
July 1 2000
&
do
do
,500,000
1 bond
1900
3 Yi S J
May 1 1934
do
do
1904 1.000 &c
4 g
M &
,000 000
Feb 1 1910
do
do
,000,000
5
If &
1907 1.000 &c
100
,000,000 4 in 1907 March Grand Cent Station, N Y Mar 1 1907 4 %
Mar 1 1907 5 %
do
do
100
,000,000 5 in 1907 March
Oct 1 1937
A & O Union Trust C o, N Y
,397,000
1887
1,000
4 g
Yearly to 1911
F & A 15 Central Trust Co, N Y
5
1,000
96,000
1896
J
& D National City Bank, N Y T o D ec 31 1910
20.000
140.000
1900
4H
New
York
May
1 1931
|M
&
Nj
,000,000
1906
4 g
,500,000
1896
100 &c I
5 g IM & N 11 B roadw ay, New Y ork May 1 1946
50
,656,050j See text.JSee t e x t j Grand Cent Station, N Y July 1 1907 5 %
iJuly 1 1907 5 %
do
do
50
,343,950 See text. ISee text.
do
do
May 1 2000
,000,000
!1,000 &c
3H e M & N
Del Lack & W est, N Y July 1 ’ 07 1 H %
100 10 ,000,000
5
Q— J
do
do
Jan 1 1921
6
|J & Ji
1880
l.OOOS 12 ,000,000
do
do
Aug 1 1923
5
'F & A
1,000
5 ,000,000
1883
do
do
May 1 1923
l,000j 5 ,000,000
4
IM & N
1890
1902
1902
1906
1903
1907
$1,000
1,000
1,000
1.000 &c
1,000
1891
1,000
100
1893
100 &c
’9 7 -’01
1904
1904
1905
1906
100 &C
Pas o & No rtheaster
N Y CEN TRAL & HUDSON R IV E R R R .— (Concluded.)
G E N E R A L F IN A N C E S .— The refunding of old bonds was com pleted in
1905 ; annual saving in interest charges about $1,475,000. V . 75, p. 1148
V . 76, p. 159; V . 80, p. 31. In June- 1903 various roads controlled by the
V anderbilt, Morgan and Pennsylvania Interests purchased $6,924,200 of
the $11,000,000 H ocking V alley R y . com . stock. See that com pany.
In Jan. 1907 the dividend rate was raised from 5 to 6% and the dividend
rates on the Lake Shore and the Michigan Central from 8 to 12% and 4 to
6 % respectively, increasing the incom e o f the Central from its holdings o f
t h '’ stno'-s nf the tw o com panies $2,147,754 yearly. V . 83, p. 1411.
In Jan. 1907 $25,000,000 3-year 5 % notes, also $15,000,000 Lake Shore
and $10,000,000 Michigan Central were sold. V . 84, p. 271, 394.
Stockholders late in 1906 subscribed for $29,839,560 new stock at par.
in 1902-03 control of the R eading C o. was acquired b y Balt. & Ohio
(Pennsylvania interests) and Lake Shore. V . 76, p. 101; V . 78, p. 48.
In 1906 the Oregon Short Line (U nion Pacific system) acquired $14,285,745
N. Y . Cent, stock. V . 84, p. 52.571.
The Mohawk Valley C o., with $20,000,000 (form erly $10,000,000) author
ized stock, 60% being owned b y N . Y . Cent, and 40% b y the “ Central Rail,
way S yndicate” of Cleveland, is a holding com pany for various electric roads
acquired in 1904 and 1905, including Syracuse R apid Transit, Rochester &
Eastern R apid, R och . R y . & L igh t, Schenectady R y . (half interest), &c.
V . 81. p. 1849; V . 82, p. 16, 334, 934; V . 83, p. 156; V . 84, p. 1308.
As to contract of 1903 with Pennsylvania Beech Creek & Eastern Coal
C o. to ship at least 1,000,000 tons annually, see V . 77, p. 2098; V . 79, p.
1335. 1435.
In Oct. 190S ordered 25,000 cars, part for Lake Shore. V . 81. p. 1315.
L A T E S T E A R N IN G S .— For 6 m os. ending June 30, gross, $46,930,895
In 1907, against 542,879,224 in 1906.
For 3 m os. ending March 31:
3 M os.—
Gross.
Net.
Other inc.
Charges. Bui.for D iv.
1907 . . ____ $21,778,770 $3,585,899 $2,359,516 $5,725,922
$219,493
1906
21,292,255
5,844,493
1,591,682
5,522,826 1,913,349
Dividends of 1 !4 % call for $2,679,480 in 1907, against $1,864,973
(1 54 % ) in 1906, leaving a balance, deficit, o f $2,459,987 in 1907, against
surDlus o f $48,376 in 1906.
A N N U A L R E P O R T .— R eport for year ending Dec. 31 1906 was given
at length in V . 84, p. 864, 872. See also editorial, p. 838.
Combined Results OF A L L IE D L IN E S . (Compare V . 84, p. 926, 898.
Year ending Dec. 31.
1906.
1905.
1904.
1903.
Miles operated_____
12,159
12,028
11,183
11,163
Gross e a r n in g s ___ $225,591,500 $206,728,132 $187,274,529 $189,602,486
T otal net in c o m e ... 68,329,446
61,324,129
57,035,420
56,555,885
First ch a r g e s ........... 43.351,256
41,396,188
39,138,555
37,458,417
D iv id e n d s '-............
18,009,178
15,419,279
15,024,077
14,845.144
S u r p lu s _________
$6,969,012
$4,508,662
$2,872,788
$4,252,324
N ote.— The “ net incom e” as above is stated after adding to the operating
expenses for the several years from $10,500,000 to $13,700,000 (in 1906
$12,595,000) for new equipm ent and construction and after adding to net
earnings “ other incom e” am ounting to $7,722,100 in 1903 and rising steadily
to 512,711,817 in 1906.
R E PO R T OF N E W YORK C E N T R A L & H U D SO N RTVER RR.
----------- Years ending Dec. 31--------------Year end.
1906.
1905.
1904.
June 30 ’ 04.
Miles operated__________
3,784
3,774
3,515
3,490
Gross ea rn in g s _________ $92,089,769 $86,095,602 $78,573,208 $77,682,221
Net earnings___________ 25,827,813 24,594,851 22,450,823 21,922,160
Other in c o m e __________
7,707,742
6,523,500
6,468,736
6,005,982
Net incom e.............. $33,535,551 $31,118,351 $28,919,559 $27,928,142
Interest on d eb t________$8,214,520 $8,223,557 $7,579,312 $7,092,483
R entals leased lines____ 9,501,170
9,508,499
9,479,955
9,466,767
Taxes on stock _________ 1,011,557
1,143,438
783,148
815,103
Taxes on real estate . . .
2,924,594
2,726,021
2,617,014
2,451,901
M iscellaneou s__________
1,231,391
1,236,081
605,391
461,617
Reserved for debentures
______
150,000
300,000
300,000
D ividen ds.................... (5 ^ )7 ,8 3 2 ,8 8 5 (5)6,612,500 (5)6,612,500 (5)6,612,500
Im prov. fund & e q u ip .. 2,800,000
1,500,000
(?)
707,099
B alance.....................
$19,433
$18,253
(?)
$20,673
Pres., W m . H . Newman: Chairman, Chauncey M. Depew: V.-Presidents.
W . C. B rown, E .V . W . R ossiter, Edgar Van E tten, John Carstensen,
W illiam J. W ilgus, G. J. Gram m er, Chas. F. Daly and Ira Place: Treas., E.
L . Rossiter; S ec., Dwight W . Pardee. Directors (April 1907). W . K . Van
derbilt, F. W . V anderbilt, C. M. Depew, S. F. Barger, J. Pierpont Morgan,
W illiam R ockefeller, Ham ilton M cK . T w om b ly, W illiam H. Newm an,
Charles C. Clarke. D . O. Mills, Geo. F. Baker. George S. Bowdoin and Jas.
Stillm an.— (V . 84, p. 1308, 1428, 1488; V . 84, p. 40.)
NEW YO RK CHICAGO & ST. LOUIS R R .— (See M a p of New York Cen
tral &, Hudson R iver.)— Owns from Buffalo, N . Y ., to Illinois State Line, e x
cept 8 m. leased bet. Dunkirk and Silver Creek, leaving 494 m .; leases the
proprietary Mne, Chic. & State Line R R ., 111. State Line to Grand Crossing
10 m .; also leases Dunkirk to Sliver Creek, 8 m .; tota l. 512 m .; trackage in
Buffalo. N. Y ., 1 H m ., and Gr. Cross’g. C hic., 111. (Lake Sh. R R .) . 9 m.
S T O C K .— Lake Shore & Michigan Southern owns $6,240,000 com m on
$6,275,000 2d preferred and $2,503,000 1st preferred stock. A fter 5 %
dividends on the $14,000,000 com m on, all classes o f stock share alike.
D IV ID E N D S .— ’93. ’ 94. ’ 95. ’ 96. ’97. ’ 98. ’ 99. ’ 00. ’ 01. ’02 to ’06. ’07.
1st pref. in March 3
4
0
5
0
2
0
5
5
5
yearly.
5
2d p r e f __________ __
..
---..
-..
2
3 yearly.
4
BO N D S.— A sinking fund o f $100,000 per year Is p rovided when net
arnlngs are $900,000 or upw ards. If bonds can be bought at or below
102: If n o t , the sinking fund lapses for that year, thus leaving $100,000
more for dividends. The Issue o f bond s, $20,000,000, has been reduced
b y sinking fund. See m ortgage abstract, V . 45. p. 541. In March ’ an*
$10,000,000 debenture 4a were sold for equipm ent, & c., but on ly $3,000,000
issued. V . 82, p. 693.
.
..................
[V o l.
RAILWAY STOCKS AND BONDS
1,891,000 4 g & 5 gIM &
98,409,500 8 in 1906|Q— M
4
A &
66,100
10,000,000 3 H & 4 IM ■*5,000,000
4 g
F
10.000,000
3H
A
4
IJ
15,000,000
See text,
3M |J
n R y.
SiLlberty Nat B ank, N YiSept 1 1941
30'Co’s Office, New Haven J u n e 30 1907 2 %
O Lincoln Nat Bank, N Y April 1 1908
Si
do
do
Mar 1 1947
A|
do
do
Feb 1 1914
O Second N at. B k.. N H April 1 1954
J Lincoln Nat Bank, N Y jJuly 1 1955
J Second N at Bank, N H Jan 1 1956
E 4.R N IN G S .— For 5 m onths ending May Cl 1907, gross, $4,399,4o4•
in 1906, $4,094,369.
3 mos. end’g M ar. 31 Gross.
Net.
Oth.Inc. Charges. P a l., Sur.
1907 .................. .............$2,583,297 $481,747 $2,456 $311,608 $172,595
1906 _________________ 2,446,177
414,550
6,253
308,175
112 628
R E P O R T .— R eport for 1906 was In V. 84, p. 927. Principally a freight
line, freight in 1906 contributing $8,350,148 out o f $9,902,209.
Year ending D ec. 31—
1906.
1905.
1904.
Gross earnings________________________ $9,902,209 $9,108,730 $8,645,374
Operating expenses____________________ 7,227,581
6,753,607
6,422,142
Additions and betterm ents___________
632,889
537,341
674,467
Net ea rn in g s_______________________ $2,041,739
Other Incom e____________ _____________
47,807
$1,817,782
30,716
$1,548,764
35.156
N et including other incom e_________$ ,089,546
Interest on bonds
776,720
Equipment trust charges_____________
166,105
Dividend on first preferred____________ (5)250,000
Dividend on second preferred_________(4)440,000
Miscellaneous__________________________
59,019
$1,848,498
777,000
170,037
(5)250,000
(3)330,000
31,078
$1,583,920
777,000
172,460
(5)250,000
(3)330,000
15,544
Balance, surplus.................. - ............... $397,702
$290,363
$38,917
P res., W m . H . Cannlff.— (V . 82, p. 1037; V . 84, p. 52, 1SS, 159, 927.)
NEW YORK & GREENW OOD LA KE R Y .— (See M a p of E rie HR.) —
Owns from Jersey C ity, N . J ., to Greenwood Lake, 39 m ., and branches to
R ln gw ood, & c., 8 m .; W atchung R y ., Forest Hill to Orange, N. J ., 4m .;
total owned, 51 miles. S tock, $100,000; par, $50.
L E A S E .— On May 1 1896 was leased to the Erie R R . for 999 years from
M ay 1 1896. Prior lien bonds are guaranteed, principal and interest, b y
Erie. See V . 63. p. 513; form of guaranty, V . 65, p. 463.
NEW YO RK & HARLEM R R .— (See N . Y . Cent. <fe Hud. Riv. R R .) —
Owns N. Y . City to Chatham, N. Y .. 136 m . A lso owns 4th A ve. S t. R R
L E A S E .— The property (except the street railroad) was leased April 1
1873 for 401 years to the N. Y . Cent. & H ud. R iv . R R . for Interest on bonds
and dividends at rate o f 8 % yearly, since Increased to 10 % through refund
ing of bonds, payable Jan. and July. V . 70, p. 740,1049: V . 71, p. 29,1220;
V . 84, p. 159. The street railway was leased In July 1896 to Met. Street
R y . Co. for 999 years; rental Is $400,000 yearly, equal to 4 % per annum on
stock, payable A pr. and O ct. V . 62, p. 1088.— (V . 80, p. 1424; V . 84, p .159.)
NEW YO RK LA C K A W A N N A & W ESTERN R Y .— Bingham ton to B uf
falo and Internat. Bridge and branches, 214 m ., o f which the main line, 213
m ., Is double track; D . L. & W . has a lease for duration o f charter from O ct.
1882 giving a guaranty of the bonds and 5 % yearly on the stock. See form
o f guaranty o f terminal bonds in V . 67, p. 1357; see also V . 68, p. 283.
NEW YO RK & LONG BRANCH R R .— Perth A m b o y to B ay H ead, N. J ..
38 miles. Leased In 1888 for 99 years to Penn. R R . and C en t.R R . of N. J .,
which join tly and severally guarantee Interest and 7 % on $2,000,000 stock
all owned b y Cent. R R . o f N. J .— (V . 72, p. 438.)
NEW YO RK NEW HAVEN & H ARTFO RD R R .— Covers Southern New
England and the only direct routes between New York and Boston.
Leased (part Owned) —
M iles.
Lines Owned in F ee—
M iles.
Old Colony R R . (which see)___ 619
Junction near N. Y . City to
Lines Leased—
Springfield, Mass____________ 122
P rovidence and W orcester_____
B oston, Mass., to Hopewell
48
J e t., N. Y . . . ..............................214 Norw. & W orcester (which see)
73
Other lines_____________________ 311
Lines to Providence, Pittsfield,
54
L itchfield, & c________________ 436 Trackage to N . Y . City, &c____
Leased and Controlled—
Lines to Turner’s Falls, &c____ 180
------Total oper’d July 1906 (90 miles has four and 741 miles tw o tracks)_2,057
In March 1907 the New England R R . was m erged. V . 84. p. 626. An
arrangement for trackage Into A lbany over the Boston & A lbany was m ade
in June 1907. V . 84. p. 1428; V . 85. p. 41.
In O ct. 1905 the New H aven & D erby, the D anbury & N orwalk, the
Providence & Springfield and other controlled roads were m erged. V . 81.
p. 1315. The stockholders o f the N augatuck R R . on Jan. 18 1906
voted to sell the road; those o f the Boston & New Y ork Air Line on Jan. 23
1907. V . 82, p. 281, 451, 1213; V . 83, p. 970; V . 84, p. 221. In O ct.
1906 acquired Paw tuxet V alley R R . V . 83, p. 1099.
In June 1907 an am ount o f Boston & Maine stock (about $12,000,000)
was exchanged, share for share,for New H aven stock and isheld by trustees,
b ut acquisition o f additional stock leased on passage of the "an ti-m erg er
a c t ,” preventing consolidation prior to J u ly 1 1908. V . 84. p. 1367; V . 85,
p. 41, 160.
In O ct. 1904 $29,160,000 o f the $58,118,982 N . Y . Ont. & W est, com ,
stock was acquired at $45 per $100 share and $2,200 of the $4,000 p ref.,
giving access to anthracite mines. V . 79, p. 2086, 2642; V . 80. p. 1363.
The N. Y. Central & Hudson R iver has an op tion on the stock to Dec. 31
1907. V . 85, p. 41,160.
In .lune 1907 permission was given for purchase b y Old C olony o f Boston
and Providence as prelim inary to acquisition o f form er b y the New H aven.
V . 84, p. 391, 1488.
Early in 1904 acquired a m ajority o f the stock and incom e bonds o f the
Central New England R y ., which in June 1907 was m erged with allied com
panies preparatory to consolidation with the N Y . N . H ,<5c H. R R . Co.
V . 84, p. 1488; V . 85. p. 160.
In O ct. 1906 acquired control o f H artford & New York Trans.
C o.. and in Jan. 1907 control o f the Maine S. S. Co. In March 1907 pur
chased one-half o f the stock o f the M erchants’ & Miners’ Transnortation
C o., which acquired the Boston * Philadelphia S. S. Co. V . 83, p. 890;
V . 84, p. 221, 271, 391, 571, 626, 749.
On May 31 1907 the Consolidated P .y., a consolidation of various c o n
trolled electric railways in Connecticut and Massachusetts, aggregating
about 700 miles o f track, purchased the property o f the New England
N avigation C o .. owning the Fall River and other steamship lines; Its capital
stock , as then Increased from $10,000,000 to $30,000,000, was exchanged
b v the N . Y . N . H . A H . R R .. as owner thereof, for its own stock to an
equal par value which, going into the treasury o f the railroad, as available,
for general purposes. Compare V. 84, p. 1052, 1114, 1242, 1308, 1424.
J u l y , 1907.]
R A IL R O A D S .
F o r explanation of column headings, & c., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
N Y New Hav & H— (Con.)— Debentures not con v ert.
Debentures 145,000,000 francs ($29,000,000) : _____
N Y P rov & Boston gen M (now 1st) gold assum.c&r;
Shore Line 1st M New Haven to New London assum
H ousatonic old consolidated m ortgage (assum ed)._ i
New consol M ($3,000,000) gold (assumed) .F .c*j
N Eng cons (now 1st) M $7,500,000 5s g o ld ..M a .c* i
N Y & N E B oston Term 1st M $ 1 ,5 00 ,0 0 0 -AB.c&ri
New Haven & D erby consolidated m ortgage____ c*
Providence & Springfield first m ortgage g o ld ___c*
D anbury & Norwalk cons M ($100,000 are 6 s)___c*i
General M D anbury, Conn, to W ilson P oint, & c.c*1
First refunding m ortgage gold assum ed____c*& r
H R & P or 2d (now 1st) guar (V 56, p 8 1 3 )..F .c& r
Harlem R iv & Port 1st M gold $ 1 5 ,0 0 0 ,0 0 0 .lls .c '& r
W oonsocket & Pascoag first m ortgage_____________ |
N augatuck first m ortgage gold assum ed____ c* &r
.
62I
49'
90j
901
359
___
13
28j
36
36!
36;
12
12
9!
61
1906
1907
1892
1880
1880
1887
1895
1889
1888
1892
1880
1883
1905
1881
1904
1890
1904
1902
1905
1904
1905
1905
1905
1906
1907
Var
Var
Boston & N Y A ir Line new M $5,000,000 ("see text)
Consolidated R y debentures, con vertible___________
do
do
do
do
___________
do
do
do
n on -con v ertib le______
do
do
do
con v ertib le ___________
do
| do
do
do
___________
do
do
do
$1,500,000 con v ______
Bonds o f electric roads merged ($2,137,000 are 4 J^s)
Bonds o f electric rds leased or contr (See“ St R y S ec”
N Y N H & 11 R R cou pon notes_____ ______________
do
do
do
do
(V 83, p 1591).
1906
do
do
do
do
(V 84, p 52, 103)
1907
Bonds of Proprietary, E tc., Lines:
N H & N o con s f $15,000 per year not draw n . Un.c*
98] 1879
N orthern Extension b o n d s ._____ ______________ c*
28! 1881
H olyoke & W leased m ortgage $200,000 g u a r .-c*
10' 1891
Old Colony— See that com pany.
Providence & W orcester first m ortgage cu rre n c y ..!
51 1897
Providence Term 1st M $7,500,000 gold tru p & i.c* &r
— . 1906
New Eng Sec & Inv Co, Providence Sec Co; Conn R y & Ltg lCo— S
New Yorlt Ontario & W estern— Comm on stock ______
Size, or
Amount
Par
Value. Outstanding
500 frs&c
1,000
1,000 &e
500 &c
1,000
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1.000 &c
1,000
1.000 &c
l ’ ooo
5.000 &e
5.000 &c
1,000
1.000
1,000
Gross earnings............. $52,984,322 $49,981,947 $48,282,909 $47,296,077
Net e a rn in g s .................. $17,761,736 $14,148,924 $13,123,698 $12,341,054
Other I n c o m e ..................
2,175,757
1,223,452
906,436
565,818
T otal net Incom e..........$19,937,493 $15,372,376 $14,080 134
Interest on bon d s............\$3,005,793/ $1,432,473
$779,667
Other Interest.................. /
L
435,385
279,993
R e n t a ls .............................. 3,935,594
4,136,843
4,420,283
Taxes ................................ 2,810,729
2,659,624
2.455,434
Dividends ( 8 % ) ------------ 6,467,092
6,400,000
6,006,448
Im prov’ts & betterm ’t s . 3,000,000
.........................................
Insurance fu n d -------------326,998
_________
_________
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where P ayable, and by
Whom.
$15,000,000
4
M & N Lincoln Nat Bank, N Y
145000000fr
4
A & O Paris, L ondon , &c.
1,000,000
A & O N H Savings Bank
4 g
200,000
M & S Nat N H B k, New Haven
4X
4
100,000
A & O New H aven, Conn
2.839.000
M & N Farmers’ L & Tr Co, N Y
5 g
17.500.000 4 g & 5 g J
&
J Safe Dep & Tr C o,B oston
1,500 000
4
A & O Coup, office; reg, mailed
575.000
5
M & N New H aven, Conn
750.000
& J Lincoln N at Bank, N Y
5g
500.000
5 &6
& J New H aven, Conn
150.000
5
& O
do
do
& D
350.000
do
do
4 g
4
635.000
& D Chemical Nat Bank, N Y
10.958.000
M & N New Y ork
4 g
5
A & O R I H osp Trust C o, Prov
100.000
2.500.000
M & N New H aven, Conn
4 g
234.000
A & O Treas, New H aven. Conn
3^
A & o Second N at B ank, N H
3.777.000
4 g
4 g
4.354.000
J &
2.350.000
J
&
4 g
979,400 3 -3 ^ -4 g F &
1.341.000
A & O
4 g
2.108.000
& J
J
4 g
5.000.000
M & S
5 g
8.755.000 4 ^ & 5 Various
2,199,666
5
Various
2.320.000
Various First National Bank, Bos
6.000.000
Various
do
do
18.850.000
do
do
J & Ji
1.200.000
700.000
200.000
A
A
A
&
&
&
Bonds— P rin ce
pal. When Due
Stocks— Last
Dividend.
1956
May
April
1922
April
1942
Mar
1910
April
1910
N ov
1937
1945
July*
April
1939
May
1MJJ
July
1922
1920
July
April
1925
1955
June
1911
June
1954
May
1910
Oct
1954
May
1930
Oct
Aug
1955
1 1954
July
Jan
1 1955
Feb
1 1930
April 1 1955
1 1956
Jan
Mch
1 1917
1912 to 1967
1914 to 1932
T o D ec 1908
Jan 9 ’ 10-’ 12
O Treas, New H aven, Conn April 1 190S
O
do
do
April 1 1911
O
do
do
April 1 1911
1,000
1,500.000
4
A & O R 1 Hosp & Tr Co, Prov Oct 1 1947
1.000 &c
M & S
4.000,000
do
do
Mar 1 1956
4 g
ee “ Stree t Railway S ection.”
100 58,113,982 See text. See text.
July 29 ’ 07 2
In 1906 m ost o f the Massachusetts trolley roads were transferred to the
New England Security & Investm ent C o., a voluntary association. (V. 83,
p. 96, 380, 492, 811, 1099; V . 84, p. 103, 1052.) In Dec. 1906 the Consol.
R y . leased the C onnecticut Railway & Lighting C o., operating 198 miles.
(V . 83, p. 1525; V . 84, p. 508.) A lso in Dec. 1906 acquired control o f the
R hode Island Securities C o., controlling the street railways (about 350 miles)
o f track), gas and electric-light properties of Providence and vicin ity, $12,000,000 P rov. Sec. 4 % debentures being guaranteed, principal and interest.
V . 83, p. 1525. V . 84, p. 1114. S e e “ Street R ailw ay” Section.
As to six-tracking Harlem R iver branch and rapid transit from New
R ochelle to New Y ork City, see V . 79, p. 903, 1263, 2436; V . 80, p. 872;
V . 83, p. 811.
Stockholders o f the Torrington & W inchester St. R y. and Meriden South
ington & Com pounce Tram way voted on June 28 1907 to sell to the N. Y .
N . H . & H . V . 85, p. 41.
Agreem ent with Grand Trunk, V . 84, p. 804.
C A P IT A L S TO C K .— Authorized issue unlim ited. In June 1907 there
had been issued $91,878,100 (against $83,357,100 June 30 1906); o f this,
$8,293,500 was issued in 1906-07 in exchange for $12,347,000 Consolidated
R y . 4 % debentures on the basis o f $200 for the stock, and to acquire stock
and evidences o f Indebtedness o f con trolled and leased properties; $30,000,000 additional stock was authorized in June 1907 to be listed as Issued,
mainly In exchange, share for share, for Boston & Maine stock, making total
listed $121,878,100, b ut see above and V . 85, p. 41. V . 82, p. 869; V . 83,
p. 1037, 1348, 1471; V . 84, p. 1114, 1367. A dditional stock will be issued
to pay for other leased lines and to provide for the $30,000,000 con v. debs,
issued Jan. 1 1906. V . 82, p. 752, 869; V . 83, p. 688. The directors voted
Jan. 1907 to offer stockholders right later (when conditions favor) to sub
scribe pro rata at $150 per share for 25 % in new stock. If all the converti
ble Consol. R y . debentures are meantime exchanged, the new stock Issue
w ould be abou t $30,000,000. V . 84, p. 159, 271, 931. In April 1907 $2,000,000 stock was issued in exchange for Merchants’ & Miners’ Transporta
tion Co. stock. V . 84, p. 749.
D IV ID E N D S .— 1 1873-1893.
1894.
1895 to June ’07 (Inclusive)
P e rcen t.
J
10 yearly.
9
8 (2 % quarterly).
B O N D S .— The Harlem River & Portchester Division 1st m tge.4s o f 1904
($15,000,000 authorized) are subject to the lien o f the $1,000,000 of 4s due
1911, for which a like am ount is reserved.
There are $25,000,Colchester R R . first 7s due July 1 1907. Under lease,
“ assum ed” debt o f Old C olony. Bills payable A pr. 30 1907, $3,460,000.
In April 1906 $15,000,000 non-convertible 4 % debentures were sold.
Stockholders o f record Dec. 31 1905 were offered the right to subscribe pro
rata at par, payable 2 5 % each Jan. 1 1906, Oct. 1 1906, July 1 1907 and
April 1 1908, or optionally In full on any of said dates, for $30,000,000 of
coupon debenture certificates, convertible at a par of $150 for $100
stock between Jan. 1 1911 and Jan. 1 1916, the proceeds to be used for
Im provem ents authorized and contem plated and the purchase o f outstand
ing securities o f controlled roads. They were given the right in Jan. 1907
to subscribe to any new stock issues, each $150 of debentures to be treated
as one share o f stock. V . 81. p. 976, 1039, 1493; V . 84, p. 103, 694.
In Feb. 1907 145.000.000 francs ($29,000,000) 4 % 15-year debentures
with a fixed rate in marks and £ were sold. V . 84, p. 391, 450, 508, 804,931
The Boston & N. Y . Air Line stockholders voted N ov. 13 1905 to make
a m tge. to secure $5,000,000 bonds. V . 81. p. 1492. Danbury & Norwalk
1st ref. 4s o f 1905 are limited to $25,000 per mile of single main track and
$25,000 per mile of additional main track, $650,000 being reserved for un
derlying bonds. V . 82. p. 219. Providence Terminal Co. bonds ($7,500 000
authorized), see V . 82. p . 929, 629, 693, 1213 1323: V . 83. p. 96, 819.
The New Haven & N ortham pton in 1906 authorized $10,000,000 consol.
4s guar., $2,000,000 issuable to redeem bonds which matured 1899 and
1904, and $6,100,000 for Improvem ents, and remaining $1,900,000 reserved
to retire the bonds due 1909 and 1911. V . 82, p. 1323.
Late in 1906 and in Jan. 1907 $27,000,000 5% notes were sold. V . 83,
p. 1591; V . 84, p. 52, 103, 159, 221.)
E A R N IN G S .— For 9 months ending Mch. 31:
9 M os.
Gross.
N et.
Oth. inc. In t.,T a x es ,A c. B al.,S ur
1906-07 .$40,996,939 $13,592,722 $1,699,195 $10,391,800 $4,900,117
1905-06 . 39,549,136
13,494,106
719,870
8,720,624
5,493,352
A N N U A L R E P O R T .— R eport 1905-06 in V . 83, p. 811. Balance sheet
A pr. 30 1907 (also o f Consol. K y .), V . 84, p. 1424.
Earnings for the fiscal year 1906-07 were in May 1907 estim ated as about
$2,750,000 to $3,000,000 above dividend requirem ents. V . 84, p. 1367.
Earnings o f Consol. R y . for 8 m os. ending A pr. 30 1907 were, gross, $4,989,607; net, $1,808,159; other Incom e, $851,647; charges, $2,516,579;
dividends, $300,000; b al., sur., $156,773. V . 84, p. 1424.
Year ending June 30.
1906.
1905.
1904.
1903.
2,057
2,088
2,031
2,037
Miles operated__________
Passenger earnings......... $25,252,124 $24,146,454 $23,425,173 $22,953,017
Freight earnings............. 27,247,118 25,341,855 24,413,541 23,926,150
M is c e lla n e o u s ...............
485,080
493,638
444,195
416,910
$12,906,872
$1,137,052
52,912
4.504,546
2,385,389
4,618,438
-I .I I I I I
Balance, surplus-------$391,287
$308,051
$ 88,309
$208,534
O F F IC E R S .— Pres., Chas. S. Mellen, New Haven: S ec., John G. Parker;
T reas., Augustus S. M ay, New H aven, Conn.
D irectors.— W illiam Skinner, H olyoke, Mass.: Jas. S. E lton. W aterbury,
C onn.; Chas. S. Mellen, New H aven, Conn.; J. Pierpont Morgan, William
R ockefeller, H. M cK . T w om b ly, George McC. Miller, New York; D. Newton
103
RAILWAY STOCK AND BONDS.
Barney, Farm ington, Conn.; Chas. F. Choate and Nathaniel Thayer, Bos
ton; R obert W . T ra ft, Providence; C. F. B rooker, Ansonia, Conn.; I. De V .
W arner, B ridgeoort; James McCrea, Philadelphia, Pa.; James S. H em ing
way, Geo. J. Brush, Fredk. F. Brewster, A . H eaton Robertson, New
H aven; Frank W . Cheney, South Manchester; Edwin Milner, M oosup,
C onn.; John H . W hittem ore, N augatuck, Conn:; H enry K . M cH arg, Stam
ford , Conn.— (V . 84, p. 1368, 1424, 1428, 1488; V . 85, p. 41, 160.)
N E W Y O R K O N T A R I O & W E S T E R N R Y . — Operates from W eehawken,
opposite N. Y . C ity, to Oswego, on
Road Owned—
M iles.
Oswego to Cornwall, N . Y _____ 272
Branch to New B e rlin _________ 22
do
to D e l h i _______________
17
do
to Ellenville __________
8
Lake Ontario:
Road Controlled, & c.—
M iles.
P ecksport, Conn. (leased)______
3
Ontario, Carb. & S. (leased)
Cadosia, N. Y ., to Scranton,P a. 54
R om e & Clinton (leased)________*13
U tica Clinton & Bing, (leased) . . *31
T otal ow ned_________________ 319
W harton V alley pawned)________
7
Trackage (till 2079) W .Shore R R .:
E llenville & K ingston (leased)
27
C’nwall to W ’ ken (V.61 ,p.425) 5'3 P ort Jervis M ont. & Sum mitville
* See this com pany.
(owned and leased)__________
38
T otal operated July 1 1906___________________________________________ 546
C O N T R O L .— In O ct. 1904 N . Y . N. H. & H. R R . acquired $29,160,000
com . stock at $45 per share and $2,200 o f the $4,000 Dref. V . 79, p. 2086,
2643; V . 80, p. 1363, 2458; V . 81, p. 1044. The Nl Y . Cent. & Hudson
River R R . in June 1907 held an option on the stock. V . 84, p. 1428.
S T O C K .— Stock is $58,117,982 (par, $100), o f which $4,000 is old pref.
D IV ID E N D S .— C om m on, Jan. 1905, 3 % ; J u ly, 1 H % ; 1906 and 1907,
2 % each.
B O N D S, & c.— Refunding mtge. for $20,000,000 covers 319 miles o f road
owned, all the securities o f the Ont. Carb. & Scran. R y ., 54 miles, and all
after-acquired property. V . 72, p. 87; V . 78, p. 2012; V . 80, p. 651.
The stockholders v oted on N ov. 7 1904 to authorize a new m tge. for $12»000,000 to provide funds for capital requirem ents, under which $3,300,000
have been Issued and the remainder will be reserved for future needs. A
3 % dividend (calling for about $1,740,000) was paid on the com m on stock
in Jan. 1905, vesting In the shareholders directly the right to elect the en
tire board o f directors. V . 79, p. 977 to 980, 1332, 1462; V . 80, p . 872.
In June 1907 permission was granted to issue $1,948,000 additional bonds
for additions, im provem ents and equipm ent, o f whichj$ 1,300,000, included
in above am ount, were sold. V . 84, p. 1488.
Early In the calendar year 1899 the coal properties at Scranton, P a ., o f the
L ack. Iron & Steel Co. (the ca p a city o f the collieries then open being about
700,000 tons per annum) were purchased b y the Scranton Coal C o., aided
b y loans from the N. Y . O. & W ., the latter issuing its $2,500,000 5 % notes
(reduced to $1,100,000 Feb. 1 1907), extending over a period o f years, se
cured b y first m tge. on the coal p roperty, and loaning $1,475,000 (of which
$305,000 has been repaid) secured b y a 2d m tge., the O. & W . obtaining con
tract for entire tonnage. V . 68, p. 41, 429; V . 69, p. 604, 646; V . 81, p. 1792.
In N ov. 1900 eight independent anthracite properties with a m axim um
output o f 2,000,000 tons annually were merged as the Elk Hill Coal & Iron
C o., the N. Y . 0 . & W . Issuing Its $3,500,000 5 % s. f. first lien gold notes
secured b y the Coal & Iron C o .’s 1st m tge., these notes m aturing $75,000
each 6 m os., beginning June 1 ’01, to June 1 ’ 11, and thereafter $200,000
semi-annually to D ec. 1 ’ 15. The notes are secured pari passu with the bonds
issued under the gen. m tge. o f 1905. The Elk Hill Co. also made a 2d m tge.
to the N. Y . O. & W . for $2,400,000 at 5 % . V . 71, p. 1270; V . 73. p. 501.
The com pany's coal tonnage Is derived as follows: Scranton and Elk
Hill com panies (as a bove sta ted ), total m axim um ca p a city, 2,700,000 tons;
other com panies, 300,000; washeries, 800,000 tons.
E A R N IN G S .— For 11 m onths ending May 31:
11 M o s .—
Gross.
N et.
Charges.
B al., Sur.
1906-07
$7,476,115
$2,362,620
$822,731
$1,539,889
1905-06
.. 6,562,584
1,755,916
777,006
978,910
A N N U A L R E P O R T .— R eport for 1905-06 was given in V . 83, p. 622.
Coal traffic In 1905-06, 2,825,973 tons (out o f 4,690,973 ton s), against
3,141,260 tons in 1904-05.
Year ending June 30—
1906.
1906.
1904.
Gross earnings......................... .................$7,265,058 $7,090,888 $6,652,484
Operating expenses and taxes_______
5,233,287
5,050,748
5,072,938
Balance, net ea rn in gs.......... .. .......... $2,031,771
$2,040,140 $1,579,546
T otal net Incom e, Including “ other” . $2,484,988
$2,491,357 $2,051,194
Interest on m ortgage b on d s__________
862,667
766,976
683,758
Miscellaneous interest and d is c o u n t..
202,291
231,155
271,638
Rentals p a i d ............................................
232,528
211,948
208,968
D iv id e n d ------------------- ------------------ (2 % ) 1,162,296 ( I K ) 871,765
................ I
Balance, surplus................ .................
$25,206
$409,513
$886,828
Pres., T hos. P . F ow ler.— (V . 83, p. 622; V . 84, p. 932, 1428, 1488.)
N E W Y O R K & O T T A W A R Y . — Tupper Lake, N . Y ., to Ottawa, C an..
128 m , including Ottawa & N . Y ., whose stock is ow ned. Successor fo
the N. Y . & Ottaw a R R ., acquired b y the N . Y . Cent. & H ud. R iv . R R .
at foreclosure sale on D ec. 22 1904. which leases the road from Feb. 1 1905.
V . 79. p. 2796; V . 80, p. 223; V . 82, p. 934. S tock authorized, $1,250,000.
In June 1905 a m ortgage for $2,500,000 was m ade, of which $1,427,000 Is
sued to pay for the property and remainder Issuable for im provem ents
and additions. V . 80. p. 2458; V . 81, p. 265. F or year end. June 30 1906
gross, $160,478; net, $10,519; other Incom e, $2,127; charges, $63,886
b a l., d e f., $51,240.— (V . 80, p. 2220, 2458; V . 81, p. 265.)
N E W Y O R K & P E N N S Y L V A N I A R Y . — V . 79, p. 501.
N E W Y O R K P H I L A D E L P H I A & N O R F O L K R R . — Delm ar, D e l., t o
Cape Charles, V a ., 95 miles, and K ing’s Creek, M d ., to Crisfield, 17 mllee.
The Penn. R R . and Phil. Balt. & W ash, have an option on the $2,000,080
stock . V . 81, p 1437.
104
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F o r explanation of column headings, & c., see notes
on first page of tables.
MUes Date
of
of
Road. Bonds.
New York Ontario & W estern— (Concluded) —
R efunding (first) M $20,000,000 g o ld ______ Me.c*&r T ext.
Gen m ortgage $12,000,000 gold red 110 (see te x t).N
G old notes secured b y 1st M Scranton Coal C o ______
d o gold sec b y 1st M on E H C & I due semi-an c*
Car trusts S ot C $22,OQO payable sem i-annually.M e
Car trusts Ser D $50,000 due sem i-annually_________
128
New York & Ottawa— First m ortgage $2,500,000 g . . G
New York Phiia & Norfolk— Stock $2,500,000______
U2
First m ortgage $3,000,000 g o ld ______________FP.c*
112
Incom e M gold non-cum reg ($1,000,000)______ FP
New York & Putnam— N Y & Nor 1st M g o ld ______ c
57
N Y & P con $6,200,000 gold guar p & i (end) .U n.c*
57
12
N Y & R ock Beach— 1st M $1,000,000 gold gu ar.C e.c*
Second M incom e bonds non-cum ulative______ Ce.r
12
N Y Short Line 1st M $1,500,000 g gu p & i-.P e P x c *
9%
72
N Y Susq & W estern— Midland R R 1st M g old ._C e.c*
1
Paterson E xten R R 1st M real estate s f g o ld ____ c*
New Y ork Susquehanna & W estern first m o rtg a g e ..
127
First m ortgage refunding g o ld _____________ Ce.c*
127
Second M ($1,000,000 gold) 3d M on 72 m u.C e.c*
General m ortgage for $3,000,000 g o ld ____Ce.c*
127
Term inal first m ortgage for $2,000,000 gold U s.c’ &r
Allied companies—
W ilkes-B . & E ’n 1st M g g u p & i(V .6 0 ,p .4 8 1 )._ G .c*
Passaic & New Y ork 1st M (999 years ren tal)______
M acopln R R 1st M (branch to Macopin L a k e)____
N Y Susq & W Coal Co 1st M red at 110 sink f d .. c *
New Y ork & W ilkesbarre Coal Co first m o rtg a g e .. N
New York Texas & Mexico— See Galveston Harrisburg & San
N ewport & Cincinnati Bridge— See Louisville & Nash ville.
Newton & Northwestern— See Ft D odge Des M &Sou
Niagara Junction Ry— 1st M $650,000 gold ____ Me c* T ext.
Norfolk & Portsmouth Belt Line— first m o rtg a g e ..F P
Norfolk & Carolina— See A tlantic Coast Line R R .
Norfolk & Southern— Com m on stock $20,000,000___
P ref stock $5,000,000 5 % non-cum red con v dur 5yrs
1892
1905
1899
1900
1903
1904
1905
1899
1899
1887
1894
1887
1887
1907
1880
1881
1887
1887
1890
1893
Size, or
P ar
Amount
Value. \Outstanding
$ l,000& c $20,000,
1,000
8,300
1,100,
1,000
2,525
1,000
1,000
44,
200
1,000
1,427,
1.000 &c
50
2.500,
1,000
2,600,
1,000
1,000,
1.000
1,200,
1,000
4,025,
1,000
984,
1,000
1,000,
1,000
1,500
3.500,
500 &c
250,
1,000
5,
V.666 3,745,
447,
1,000
1,000
2,552,
1.000 &c
2,000,
1892
1885
1896
1887
1893
A nton
1,000
500
1902
1898
When
Payable.
Where Payable, and by
Whom.
4 g
4 g
5 g
5 g
5 g
5 g
4 g
See text.
4 g
4
5 g
4 g
5 g
Up to 5 %
4 g
6 g
6 g
6 g
5 g
4H g
5 g
5 g
&
&
&
&
&
&
&
&
&
&
&
&
&
Office, 56 Beaver St, N Y
do
do
New Y ork Trust Co, N Y
Morton Trust Co, N Y
Manhattan T r C o, N Y
do
do
Grand Cent Station, N Y
Checks mailed
26 South 15th St, Phila
Checks mailed (see text)
Grand Central S ta., N Y
Grand Cent Station, N Y
U S Mort & Tr Tr C o, N Y
5 g
500
1,000
1,000
175.000
250.000
5 g
5
S E C U R IT IE S .— S tock, $2,500,000, all outstanding, $500,000 being
Issued June 1906 as a 25% stock dividend; par, $50, represented b y nego
tiable trust certificates Issued b y Fidelity Insurance Trust & Safe Deposit
Co. o f Philadelphia. Of the $3,000,000 1st 4s, $400,000 are reserved for
Im provem ents. V . 68, p . 773, 978. As to incom es, see V . 68, p. 978.
D ividends on stock, 1901, 6 % ; 1902, 5 % ; 1903, 6 % ; 1904, June, 3 % ;
D e c ., 5 % , incl. 2% extra: 1905, June, 4 % : D ec., 6 % , Incl. 2 % extra;
1906, June, 5 % and 2 5 % in stock; D ec., 5 % ; 1907, June, 6 % .
E A R N IN G S .— Year ending D ec. 31 1904, gross, $2,001,784; net, $580,296; other Incom e, $100; charges, $392,257; dividend ( 8 % ), $160,000;
b a l., sur., $28,139.— (V . 81, p . 1437; V . 82, D. 1213 1438.)
NEW YO RK & PITTSBU RGH SHORT LINE R R .— V. 84, p. 626.
NEW YO R K & PUTNAM R R .— Owns 155th St. and 8th A v e ., N . Y .
C ity (terminus M anhattan E lev a ted ), to Brewsters, N. Y ., 54 miles; double
track branch to Yonkers, 3 miles; operates 2 miles; tota l, 59 miles.
H IS T O R Y .— Successor to the N . Y . & N orthern, sold under foreclosure
o f 2d m tge. Dec. 28 ’93, and purchased for N- Y . Cent. & H ud. R iv . R R .
w hich owns $6,500,000 stock and leases the road— see V . 63, p. 754, 820,
1159; V . 81, p. 265. Decision V . 74, p. 380; V . 77, p. 2339; V . 81, p. 1610;
V . 82, p. 272.
B O N D S .— The New Y ork Central guarantees the new consolidated m ort
gage bonds, o f which $1,000,000 were reserved for Improvem ents; also
$1,200,000 to retire at m aturity the first 5s.— (V . 82, p. 272.)
NEW Y O R K & R O C K A W A Y BEACH R Y .— Owns Glendale Jet. to R ockaw ay Park. 10.31 m ., with branch, 1.43 m .; total, 11.74 m .; double track.
S tock, $1,000,000; par, $100. Leased 50 years from J u ly 1 1904 b y Long
Island R R . C o., whose endorsem ’t is printed on first m tge. bonds. On Jan.
1 1906 $101,000 firsts owned b y L. 1. R R . were on deposit under its unified
m tg e., together with $929,667 o f the incom es. In O ct. 1906 the remaining
Income bonds and a further am ount o f stock was acquired: V . 83, p. 890.
Year ending Dec. 31 1906, gross, $582,555; net, $166,793; other incom e,
$7,341; total, $174,134; balance over charges being used for extraordinary
e x p .— (V . 82, p. 929; V . 83, p. 890.)
NEW YO R K SHORT LINE R R .— Owns a cu t-off for the Reading Co.
betw een Cheltenham and Nesham iny Falls. 9 Vi m iles, opened May
1906. V . 79, p. 1038. T o be 4-tracked, 2 tracks laid at present and on
2 miles 3 tracks. Leased to Phila. & Reading R y . for 999 years from Feb. 1
1907. The $250,000 stock is ow ned b y R eading C o., which guarantees the
bonds, principal and interest.— (V. 84, p. 1552.)
NEW YO R K SUSQUEHANNA & W ESTERN R R .— (See Erie M ap .i
Owned (in fee) or entire stock. M iles. Susq. Connecting R R ___________ 10
Jersey C ity to Gravel P l., P a ------ 101 Other branches__________________ 25
Lines leased, &c.
(D ouble track 19 miles.)
T w o Bridges, N . J .. to Unlonvllle 21 M iddletow n Un. & W ater G a p * .. 14
2
W ilkesbarre & Eastern----------------65 Trackage _______________________
T otal road operated ("see this co.) June 30 1906-------------------------------- 238
S T O C K .— Pref., $13,000,000; co m ., $13,000,000, o f which the Erie owned
June 30 1906 $12,378,900 com . and $12,892,400 p ref., of which $6,630,000
com and $6,630,000 pref. are deposited under Its Pennsylvania coll. tr. M.
Dividends on p ref., N ov. 1891 to 1892, 2 ^ % yearly; none since.
B O N D S .— General m ortgage 5 % bonds are reserved to retire the 2d
m ortgage 4 Ms. See m ortgage abstract, V . 52, p. 84. T he seconds are
exchangeable for generals on paym ent of an assessment.
As to terminal bonds listed In Sept. 1893, s e e ‘ Supplem ent” o f Jan .1898,
and abstract o f m ortgage, V . 57, p. 512.
E A R N IN G S .— 11 m onths, \1906-07____Gross, $2,847,799; net, $784,426
J u ly 1 to May 31.
J 19 0 5 -0 6 .._-G ross, 2,506,313; net, 759,073
R E P O R T .— For 1905-06 In V . 83, p. 887, showed on 238 miles:
Year—
Gross.
Net.
Other Inc.
Charges.
B a l., def.
1905-06
$2,757,925
$828,674
$43,055
$896,062
$24,333
1 9 0 4 -0 5 " " ’
2,743,135
962,843
40,166
1,025,696
22,687
— (V. 80, p. 712; V . 81, p. 1175, 1371; V . 82, p. 452; V . 83. p, 272 887.)
NEWTON & NORTHWESTERN R R .— See Fort Dodge Des Moines &
Southern R R .
N IA G A R A JUNCTION R Y .— A terminal and switching road extending
from Niagara Falls, N. Y ., to Pletcher’s Corners, N . Y ., 5.15 miles; factory
sidings 8.74 m . S tock, $160,000 com . and $140,000 8 % cum . pref.; all of
the com . and nearly all the pref. being owned b y the Niagara Falls Power
Co
N o bonas in excess o f $500,000 can be issued without the consent of
the" entire stock. Year ending Dec. 31 1906, gross, $60,879; net, $41,360;
lnt taxes, & c., $11,167; bal., sur., $30,193. Pres., D. O. Mills; 2d V .-P . and
T reas., W . Paxton Little; Sec., F. L. Lovelace. O ffice, 15 Broad S t., N .Y .
N ORFOLK & PORTSMOUTH BELT LINE R R .— Owns P ort N orfolk to
B erkley V a ., 6 miles, and Southern branch extension, 1.37 m . Stock,
$49 600 ’ In $100 shares. Bonds, see table. Year ending June 30 1906,
gross $122,333; net, $48,735; Interest on bonds, $12,500; other interest,
$100;’ taxes. $1,887; b a l., sur., $34,248.
N ORFOLK & SOU l rlKRN R Y .— Owns N orfolk, V a ., to E denton, N. C .,
76 miles (ferry across Albem arle Sound to M ackey’s Ferry, 9 m . ) ; thence
road to Belhaven, 30 m .; N orfolk to Virginia Beach, 19 m .; Clapham Jet. to
M unden’s P oiiit, 22 m .; Providence to Clapham Jet., 8 m .; M ackey’s Ferry
to W ashington, N. C., 44 m .; M ackey’s Ferry to Cresswell, 13 m .; form er
Chesapeake Transit (electric railway) C om pany, N orfolk to Lynn H aven
In let and Virginia Beach, via Cape Henry, 24 m. (acquired Dec. 1904);
Suffolk V a., to Edenton, N. C ., 50 m .; B eckford to Elizabeth City, N. C .,
25 m • Raleigh to Zebulon, 24 m .; leases A tlantic & North Carolina, Beau
fort to G oldsboro. N. C ., 115 miles; total April 1907, 461 miles; 45 m.
equipped electrically. V . 78, p. 1549, 2599; V . 79, p. 1462, 1705.
The eom pany Is building about 187 miles, to be com pleted in summer
o f 1907 m aking a connected system of 611 miles between Beaufort and
G oldsboro, New Bern and W ashington, Raleigh and W ashington, W ash
ington and M ackey’s Ferry, Belhaven and M ackey’s Ferry. E denton, Suf
fo lk . Elizabeth City and N orfolk; of the new lines 72 miles were in operation
In June 1907.
IN T E R E S T OR D IV ID E N D S .
Rate
%
3,000,000
70.000
44.000
327.000
450.000
1,000
[V o l.
6
5
6
6
S
D
A
D
N
O
J
D
J
N
O
O
S
lxxxv.
Bonds— P rin ci
pal, When D ue.
Stocks— Last
Dividend.
&
June 1 1092
June 1 1955
A ug '07-F eb ’ 11
Dec ’ 07-D ec ’ 15
N ov ’07-M ay ’08
O ct ’07-Apr ’ 09
July 1 1955
June 1 1907 5 %
Jan
1939
Jan
1939
1927
Oct
1993
Oct
1927
Sept
1927
Sept
1 1957
A Philadelphia
Feb
O Office, 11 B roadw ay, N Y April 1 1910
D
do
do
Juno 1 1910
J
July 1 1911
do
Jan 1 1937
do
do
do
Feb 1 1937
do
do
A ug 1 1940
do
N
do
May 1 1943
&
&
&
&
&
D
do
do
D
do
do
D
do
do
do
do
S
N V .7 5 ,p .l0 4 3 ;V .8 4 ,p .3 4 2
&
&
&
&
June
D ec
D ec
Mar
N ov
Mercantile T r C o, N Y
Aug
Fidelity Trust Co, Phila Feb
1
1
1
1
1
1942
1910
1916
1912
1933
1 1922
1 1938
12,700,000
4,800,000
O R G A N IZ A T IO N .— A consolidation N ov. 23 ’06, per plan V . 82, p. 929,
o f the N orfolk & Southern R R . and the Virginia & Carolina Coast (Suffolk to
E denton, 51 m ., with branch to Elizabeth C ity, 23 m .) , with the lease of the
A tlantic & N orth Carolina, G oldsboro, N. C ., to Morehead C ity, 95 m ,,a t o
tal of 408 m . in operation, and all the stock and $10,000,000 1st m tge. bonds
to be issued b y a lum ber co . to own over 600,000 acres o f tim ber land in fee
and about 200,000 acres o f tim ebr rights.
The Suffolk & Carolina was taken over Jan. 1906.
The new co. will Issue the securities shown In the table a bove, $14,000,000
bonds and $4,800,000 pref. stock having been underwritten to provide for
acquirem ent o f property and construction as above. The new bonds will
be secured In part b y all the bonds o f the lum ber co .; a s. f. to be not lee*
than $175,000 yearly and estim ated to exceed $300,000. O f the bonds,
$3,500,000 will be reserved to retire all outstanding liens and $7,500,000
with $7,300,000 Dref. and $200,000 com . stock for future purposes.
E A R N IN G S .— The present aggregate net earnings o f the acquired p rop
erties Is reported as over $1,050,000; Interest on bonds to be Issued, In d .
reserve for refunding, $875,000: bal. for stock, $175,000. Estimated net
earnings for the first year after the property Is com pleted, $1,550,000
leaving $675,000 applicable to stock.
R eport o f N orfolk & Southern R R . was in V . 82, p. 158. Earnings for
year ending June 30 1906 (223 m iles), gross, $1,148,922; net, $251,564;
other Income, $5,220; charges, $223,071; b a l., sur., $33,713.
Loans and bills payable o f N. & S. R R . June 30 1906, $610,000; car trusts,
$3,488.
Pres., Frank S. Gannon; Treas., Mathew M anly; S e c.,W a lte r B .G w y n .
N . Y . office, 135 B roadw ay.— (V . 83, p. 1348; V . 84, p. 159.)
NORFOLK & W ESTERN R Y .— See M a p .— System extends from N or
folk, V a ., westward to Colum bus, O hio, and northward to H agerstown,
M d ., with branches to the various coal fields In Virginia and W est Virginia.
Road owned.
M iles, j
M ile*.
N o rfolk ,V a ., to Colum bus, O ___ 7 0 4 1R oanoke to W inston___________ 121
R adford, V a ., to Bristol, T e n n .. I l l
Sundry branches_______________ 318
R oanoke, V a ., to H a g e rsto w n ..238 Columbus term inal_____________
4
Graham to.N orton ______________100
N or. Car. Junction to Fries-------44
Total owned June 30 1 90 6 ..1 ,8 6 1
Lynchburg to Durham . N . C — 115
P ortsm outh Jet. to Cincinnati
Double track____________________186
and Ivoryd a le ________________ 106
O R G A N IZ A T IO N .— Successor In 1896 o f N orfolk & W estern R R .. A c .,
foreclosed per plan In V . 62, p. 641. On Jan. 1 1907 Penn. R R . and sub
sidiary com panies owned $8,746,000 each o f the com m on and preferred
stocks, about one-half o f the holdings having been sold In 1906. V . 83,
p. 502. Branches building June 30 1906, see V . 83, p. 573.
S T O C K .— Provisions o f pref. stock were given I n ‘ ‘ S up p lem ent" o f April
1897, page 4 , said stock being 4 % non-cum . with preference as to assets.
As to Increase o f authorized stock In 1906, see "General Finances” below.
D IV ID E N D S .
’97 ’ 98 '99 ’ 00 ’01 ‘02 ’ 03 ’ 04 ’05 1906 1907
Preferred ( % ) _____
1
3
4
4
4
4
4
4
4
4
F eb ., 2
Com m on ( % ) .................................. .. . .
2
2K 3
3
3 Vi 4 ^ J n e 2 ^
In 1906, June, 2 % ; D e c .,2 M % .
B O N D S .— The first consolidated m tge. o f 1898 Is limited to $ 6 2 ,5 0 0 ,0 0 0 ,
the balance unissued being reserved to retire the underlying bonds. The
right to Issue prior lien bonds has been annulled. V . 73, p. 502: V . 74
p. 151; V . 75. p. 505; V . 77, p. 1785; V . 78. p . 229.
T he 4 % 1st consols are a 1st m tge. on a large part o f the system , via .,
about 868 miles o f railroad; upon Im portant terminals at N orfolk and Lam
berts Point; upon the Ohio R iver Bridge and the R oanoke Machine W orks:
besides being a consol, m tge. upon 739 miles o f the system , subject to the
undisturbed liens. T hey were further secured b y the equipm ent (cost over
$11,000,000). See abstract, V . 64, p. 376. V . 72, p. 137, 438, 532, 723,
1080; V . 75, p. 505; V . 79, p. 213; V . 81, p. 212.
The N . & W .-P ocahon tas jo in t bonds are secured b y abou t 295,000 acree
o f coal lands owned and held b y the Pocahontas Coal & Coke C o., whose
stock Is ow n ed, o f which about 50,000 acres have been leased to com panies
whose stock Is all owned by the U . S. Steel Corp. and 39,797 to other con
cerns, the royalties under such leases alone being shortly expected to be su f
ficient to almost meet the fixed charges. T hey are subject to call at 105
beginning 1906, for a sinking fund o f 2 H cents per ton m ined. V . 73, p .845
902; V . 74, p. 41, 380, 1197; V . 75, p. 502. These bonds are the Joint and
several obligations o f the R ailw ay Co. and o f the Coal & Coke Co.
•Divisional 1st lien and gen. mtge. 4s o f 1904 ($35,000,000) authorized for
future capital requirements are a 1st lien on extensions and branches not
covered b y the 1st consol, m tge. aggregating 220 miles, and upon such e x
tensions and branches as m ay be acquired from the proceeds o f the new
bonds and also a lien subject thereto upon the properties covered thereby.
O f the bonds $13,000,000 has been sold for Im provem ents and new equip
m ent. V . 78. p. 1549: V . 79, p. 501. 6 28. 973. 1642, 1704, 2148; V . 80
p. 1175; V . 82, p. 510; V . 83, p. 1471; V . 84, p. 1367.
As to convertible bonds o f 1907, see “ General Finances” below.
G E N E R A L F IN A N C E S .— O f the traffic In 1905-06 61% (11,848,840
tons) was bituminous coal and coke; average rate per ton per mile, 0.481
cents; traln-load, 579 tons. As to new 4s o f 1904. see "B o n d s” above. In
Dec. 1905 dividend rate on com m on was Increased to 4 % and In Dec. 1906
to 5 % .
The stockholders O ct. 11 1906 authorized an Issue o f $34,000,000 con
vertible bonds and an Increase in the com m on stock from $66,000,000 to
$100,000,000, to provide for the conversion. V . 83, p. 380, 435, 575.
Stockholders subscribed p ro ra ta for $14,576,000 o f the con vertible bonds
at par, payable 4 0 % Jan. 31 and 60 % May 31 1907, the proceeds to be used
for double-tracking and additional equipm ent. The bonds were under
written. The present Issue Is dated June 1 1907 and matures June 1 1932,
and to be convertible into com m on stock, dollar for dollar, prior to June 1
1917, and to be thereafter subject to call at 105 and interest. V . 83, p.
1412, 1471; V . 84, p. 1248.
E A R N IN G S .— For 11 months ending May 31:
Gross.
N et.
In t.,ta xes. &c.
Bal.sur.
$10,542,271
$4,280,828
1 9 0 6 -0 7 ..............$28,412,994
$6,261,443
1905-06
26,009,720
10,466,490
3,767,583
6,698,907
J u ly ,
W EL.
1907.)
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RA ILW A Y STOCKS AND BONDS.
105
106
RAILWAY STOCKS AND BONDS
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date Size, or
P ar
Amount
of
of
Road. Bonds. Value. Outstanding
|V o l .
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
lxxxy
.
Bonds— P rinci
pal, When D ue.
Stocks— Last
Dividend.
223 1891
N orfolk& South— (C on.)— 1st m ort $ 1 ,970,000g.M p.c*
$1,000 $1,655 000
M & N Metropolitan Tr Co. N Y May 1 1941
5 g
1904
1st gen. M .g.red 115______________________________ :G
1,000
2,865 000
J & Jj IGuaranty Trust Co, N Y July 1 1954
5 g
Suffolk & Carolina first m ortga ge__________________
6
April 1 1911
1886
A & O!
90 000
First consol m ortgage $1.000,000 gold red at 110c*
J & J International Tr C o,B alt July 1 1952
1,000
650 000
_75 1902
5g
1956
N&S 1st and ref M $25,000,000 g red at 110 sink fund
1906
14,000, 000
5 g
D Office, Philadelphia
100 64,469 200 See text.
Norfolk & W estern Ry— Com m on stock $100,000,000G
J’ne 19’07 2 H %
A djustm ent preferred 4 % non-cum $ 23 ,0 0 0 ,0 0 0 .. G]
Feb 15 1907 2 %
A
do
do
100 22,991 100 4 In 1906
1,000
428 1881
N & W gen (now 1st) M N orfolk to Brls. etc g .F P c*
M & N Mercantile Trust C o, N Y May 1 1931
7,283 000
6 g
April 1 1932
A & O
1,000
2,000 000
197 1882
do
do
New R iver Division first m ortgage g o ld ..F P .c *
6 g
588 1883
A
do
do
Feb 1 1934
Im provem ent & Extension m ortgage g o ld ..F P .c *
1,000
5.000 000
6 g
5.000 000
129 1889
N
do
do
N ov 1 1989
S cioto Valiev & New Eng 1st M assumed gold .C e.c*
1.000
4 g
O
do
do
Oct 1 1996
N & W first consol M $62,500,000 g o ld ____ M e .c'& r 1;608 1896
500 <5cc 40,400 500
4 g
J
do
do
July 1 1944
D1v 1st lien & gen M (text) g red 105 begin 1 92 9 ..G : 1,827 1904 1.000 &c 13,000 000
4 g
D
do
do
D ec 1 1941
P ocah joint M $20,000,000 g call 105 s f _G P .c’ &r
1 000 19.C71 ,000
1901
4 g
J Metropolitan Tr C o. N Y Jan 1 1922
500
600 000
Col Con & Term 1st M gold guar p & I (en d ).M p .c*
1892
5 g
D Mercantile T r. Co. N Y June 1 1932
Convertible bonds, $34,000,000, gold red. t e x t ____ G
1907 1.000 &c 14,576 000
4 g
S Fidelity Trust C o. Phila Sept 1 1907-’ l l
1,000
1902
E quip trusts gold $500,000 yearly beg 1 9 0 5 ..FP.c*
2.500 ,000
4 g
J
do
do
Jan 1 1908-1913
do
Series A , gold due $100,000 yearly__FP
1,000
1903
700 000
4 g
S
do
do
Mar 1 1908-1913
do
Series B gold due $100,000 y ea rly ____FP)
1,000
700 000
1903
4 g
O,Commercial Tr Co, Phila Apr 1 1908-1915
do
Series C gold guar p & 1 due $200,000 y ’rly*
1,000
1905
1,600 000
4 g
N|
do
do
|Nov 1 1907 1915
do
Series D gold $100,000 yearly___________
1,000
1905
900 ,000
4 g
D
do
do
Dec 1 1907-1915
do
Series E gold $100,000 yearly_____________
1 000
900 ,000
1905
4 g
A
do
do
T o Aug 1916
do
Series F to K g gu $100,000 each ser yrly.:
4.500 ,000
1,000
1906
4 g
Norristown & Main L Con— 1st M g guar p & l(end) GP
1,000
S Reading Term inal, Phila Sept 1 1952
250 ,000
1902
4 g
North Carolina— Stock 7 % rental________________
223
100
A!BurlIngton, N C
Aug 1 '07 3 H %
4.000 ,000
7
North Penn— Stock 8 % guar 990 years $6,000,000 auth,
5,382 ,150
86
8
50
Q— 1' Office, 240 S 3d S t, Phila May 25 1907 2 %
56 1866
4
500 &c
1.500 ,000
Old second M, now first M (7s extended in 1896)_ .c
do
do
May 1 1936
M & N
‘ •General m ortgage extended In gold in 1903____ c&r
4.500 ,000
1873
3.3 g. J
& J|
do
do
Jan 1 1953
Funding loan bonds $409,000_______________ :_____
1898
4
391 ,000
do
do
N ov 1 1928
M & N
1' Real estate m ortgages and ground rents July 1906 .
92 ,618
North Shore RR— See Northern Pacific R R .
North Shore Cuba— 1st M $5,000,000 g red t e x t_____ F
1,000
1907
See text;
5g
M &
............- ...........- ................... Mch 1 1942
North East Penn— 1st M gold guar P & R (end )_G uP .c
26 1890
Phila & Reading, Phila April 1 1920
1.000
400,0001
5 g ,A &
Northern Ala— 1st M ($350,000 are prior lien )____ K .c
1,0001 1.650.000 See text.lJ
&
107 1896
J P Morgan & Co, N Y July 1 1928
Northern (N H )— Stock 6 % rental_________________ _
100! 3,068,400 See text.; Q— J
83
1023 Old So B ldg, Boston July 1 '07 1 H %
Northern Central— Stock ($20,000,000 authorized)___
50 ; 19,342 569;See text. J
Treasurer’s Office, Balt -July 15 ’07 4 %
&
First m ortgage State o f Maryland loan— V 74 ,p 1197
144 1855
1,500,000|
6
! Q— J Annapolis
Irredeemable
144 1885 '" V . 6 6 6
Con gen M o f 1874 g Ser E _____ . . _________________ c
1.757.000
4^gA
&
Treasurer’s Office. Balt
April 1 1925
144 '76 - ’82
S econd gen M Series “ A ” <% “ B ” (A $2,565,000) .F P
1.000
3.565.0001
5
J
&
do
do
Jan 1 1926
N ORFOLK & W ESTERN RV. (C oncluded).—
O R G A N IZ A T IO N .— A consolidation o f several roads In 1854. Con
R E P O R T .— R eport for 1905-06, V. 83, p. 559, 572 (see editorial, p. 525): trolled b y the Penn. R R .. which owns a m ajority o f the stock.
Year ending June 30—•
1906.
1905.
1904.
1903.
S E C U R IT IE S O W N E D .— On Jan. 1 1907 among the assets held were
Miles June 30 ..................
1,861
1,833
1,769
1,722 Elmira & Lake Ont. stock (a ll), $1,500,000; Sham. V al. & P ottsv. stock,
Passenger earnings_____ $3,598,558 $3,158,773
$3,150,859
$2,841,491 $619,650; Union R R . stock, $1,225,000 (the bal. of $875,000 being held by
Freight earnings_______ 24,111,801 20,249,399 18,894,941
17,676,349 Phila. W llm . & B a lto .), &c. Also the follow ing, m ostly acquired In 1900;
777,407
681,088
673,175
642,836 B alt. & Ohio pref. stock, $1,000,000, and co m ., $1,048,700; N orf. & W est,
Mail, express, & c............
pref. stock, $500,000, and co m ., $1,000,000; Erie & W est. Transportation
Total gross earnings-.$28,487,766 $24,089,260 $22,718,977 $21,160,675 Co. stock, $500,000.
Operating exp. and taxes 17,799,623 15,285,434 14,344,730 12,697,430
ST O C K .— Authorized Issue was Increased In Feb. 1900 from $8,000,000
$12,000,000: Penn. R R . on Jan. 1 1907, owned $9,401,950. The stock
Total net e a r n in g s ...$10,688,143
$8,803,826 $8,374,247 $8,463,245 to
holders In N ov. 1903 voted to Increase the authorized stock from $12,000,000
Total net Incom e____ 10,853,488
9,014,399
8,521,479
8,611,504 to
$20,000,000. O f the new stock, $5,731,125 was subscribed for at $62 50
Interest on funded d e b t. 3,069,147
2,862,933
2,603,510
2,435,690 per $50 share In June 190 4 ,the proceeds being used to pay off $2,000,000
Interest on car trusts___
316,641
226,667
156,889
625 bonds m aturing July 1 1904, purchase $1,562,000 o f the $2,000,000 o u t
D ef.lnt.Poc.C . & C.bonds.
188,000
216,000
295,595
159,176 standing
Shamokln V alley & Pottsville R R . 3 H % bonds not already
D ividends on preferred- (4)919,644
(4)919,530
(4)919,524
(4)914,818 ow ned, and provide for Im provem ents and equipm ent. V . 77, p. 1875;
Dividends on com m on (4)2,578,768 (3)1,934,076 (3)1,934,076 (3)1,934,076 V . 78, p. 1907. In Jan. 1907 $2,149,169 was Issued as a 12% stock divi
Miscellaneous ..................
15,323
______
______
135,000 dend, raising the am ount outstanding to $19,342,569. V . 83, p. 1471.
Betterm ent fund, & c_._ 2,950,000
2,250,000
2,000,000
2,500,000
D IV S . 1888 ’89 ’90 ’91 ’ 92 ’93
1894 to 1900
1901 to July 1907
D iscoun t, & c.....................
55,786
160,197
87,167
347,078
Per ce n t.
7
8
7
7
8
8
7 yearly
*8 yearly (J&J)
* A lso Jan. 1907 1 2 )^ % paid in stock. In Mar. 1906 the question of
$760,179
$444,996
$524,719
$185,041
Balance, surplus_____
O F F IC E R S .— Pres , L. E . Johnson; Chairman o f B oard, H enry Fink, 27 Increase in the dividend rate was referred to the board. V . 84, p. 508.
E A R N IN G S .— 5 m os., J1907.....................Gross, $5,180,492; net, $823,469
William S t., N . Y .: V .-P .. W p j. G. M acdowell; S ec., E. H Alden; T reas.,
Jan. 1 to May 31.
J1906_____ ______Gross, 4,434,692; net, 857,469
Jos. B. L a cy. General office, R oan oke, V a.; Philadelphia office, A rcade
B uilding, Market and 15th streets.
A N N U A L R E P O R T .— Fiscal year ends D ec. 31. President’s report for
Directors— Henry Fink, V ictor Morawetz, Levi C. W eir, New Y ork; L. E.
1906 given at length In V . 84, p. 504, 513, showed the follow ing:
Johnson, R oan oke, V a.; Samuel R ea, W . G. M acdow ell, Joseph I. Doran
Year ending Dec. 31—
1906.
1905.
1904.
1903.
and John P. Green, Philadelphia: Joseph W ood , H enry C. F rick, Pitts Miles
o f roa d ___________
462
462
448
450
burgh; W alter H . T aylor, N orfolk, V a .— (V . 84, p. 221, 1053, 1248, 1367.)
Gross earnings.................. $11,632,633 $10,531,962 $10,174,524 $10,234,459
NORRISTOW N & MAIN LINE CONNECTING R R .— Owns road 3,405
N et ea rn in gs.................... 2,654,255
2,061,396
2,345,271
2,260,581
feet long, including bridge over Schuylkill R iver, extending from Norris Other receipts__________
1,151,602
1,157,418
843,049
875,130
tow n to a connection with the main line o f the Phila. & R ead, at a point
a bov e B ridgeport, Pa. Leased to Phila. & R ead. R y . at 4 % on stock and
$3,218,814 $3,188,320 $3,135,711
T otal net Incom e____ $3,805,857
Interest on bonds. The Reading Co. owns all the $50,000 stock and guar R entals, & c____________
$471,253
5368,998
$420,180
$494,760
antees the b ond s.— V . 75, p. 1148.
360,182
Interest on debt, & c____
368,277
494,512
591,105
D ividends, 8 % _________
1,375,468 1,375,468
1,146,224
916,980
NORTH C AROLIN A R R .— Owns from G oldsboro to Charlotte, N . C .,
260,763
261,071
206,721
212,979
221.65 m .; Carolelgh J et., N. C .. to Carolelgh Mills, 1.90 m : total, 223.55 Taxes and m iscellaneous
1,100,582
827,721
920,681
908,484
miles. Leased from Jan. 1 1896 to the Southern R y . Co. for 99 years at E x tra o rd in a ry _________
$266,000 ( 6 o n stock) per year till D ec. 31 1901. an*l $286,000 (equal to
B alance, surplus_____
$229,511
$25,374
N one.
$11,405
7 % on stock) balance o f lease also taxes. V . 63, p. 361. State o f N orth
— (V . 83, p. 1412, 1471; V . 84, p. 103, 391, 504, 508, 513.)
Carolina holds $3,000,000 stock. (V . 66. p. 665.)
NORTH PE N N SYLV A N IA R R .— Owns from Philadelphia. P a ., to B eth
N O R T H E R N R R . OF N E W J E R S E Y . — Owns from Bergen, N . J ., to
lehem , P a ., 56 m .; branches to Delaware R iver, & c., 31 m .; 2d track, 75.16 Sparklll, N . Y ., 21 m .; leases Sparklll to N yack, 5 m. Leased to the Erie
m .; 3d track, 13.68 m .; total track, 239.41 m . Leased for 990 yrs. from May R R . from June 1 1899 for the term o f its corporate existence, for Interest
1 1879 to Phila. & Reading R R . at 8 % on stock, and lease assumed in 1896 on bonds, 4 % on $1,000,000 stock, payable quarterly, taxes, and all co r
b y Phila. & Reading R y . Current liabilities June 30 1906, $354,967.— (V . porate expenses. O f the $1,000,000 new 4 M % gen. m tge. bonds, guaran
73. p. 1160; V . 75, p. 1354: V . 78, p. 821; V . 81, p. 559, 668.)
teed b y the Erie, $654,000 are reserved to retire the 6s due July 1 1917, and
NORTH SHORE R R. (Narrow Gauge)— In Jan. 1907 the road, with the the remainder for Improvements and betterm ents or equlpm ’t for operation
California & Northwestern and other roads, was taken over b y the N orth b y electricity o f the leased properties. See V . 69, p. 81.— (V . 71, p . 30.)
western Pacific R R , which see. The interest on the 5s o f 1902 was de
N O R T H E R N R Y . C O S T A R I C A . — See V . 71. p. 1067, and U nited Fruit
faulted a second time In May 1905, cash for principal and interest being de C o.; V . 75, p. 849; V . 78, p . 288; V . 80, p. 223; V . 81, p. 614.
posited with the trustee, which declared the bonds due and p ayable.
N O R T H E R N O H I O R A I L W A Y . — (See M a p Lake Erie <k Western.) —
V . 80, p. 1913.
Owns Akron to Delphos. O ., 165 miles; branches, 2 miles. Leased In per
For year ending June 30 1906, gross, $741,847; net, $183,120; Interest petuity to L . E . & W ., which guarantees the bonds. V . 62, p. 826.
and taxes. $304,572; b a l., d e f., for year, $121,452.— (V . 84, p. 103.)
S T O C K .— Comm on stock (all owned b y L. E. & W .) , $3,580,000; pre
NORTH SHORE R R ., C U BA.— T o bu ild from M ayanabo B ay, north o f ferred non-cum ulatlve 5 % stock, $650,000: par of each, $100.
N ueritas. west through Cubitas V a lley to Caribarrien, a point in Province
B O N D S.— The first m ortgage Is for $4,000,000, of which $1,500,000 u n
o f Santa Clara, about 250 miles, with 50-m ile branch from Senada to Iron issued are limited to $15,000 per mile o f com pleted road hereafter co n
mines south of Cubitas Mountains. Construction to begin May 1907. structed or purchased. Operated as part of L. E . & W . V . 66, p. 337.
S tock, $2,500,000, all outstanding; par, $100. The Cuban Governm ent
N O R T H E R N P A C I F I C R A 1 L W A Y.— (See M a p s.)-—Operates one o f the
will pay a subsidy o f $6,000 per kilom eter constructed, In 6 annual paym ents. leading lines to the P acific, having Its eastern termini at St. Paul, M inn.,
Bonds are subject to call at 106 y2 and Interest after 10 years; sinking fund and Duluth, W ls. (the head o f Lake navigation), and running thence west
3 % o f gross earnings is payable yearly; V . 84, p. 571. President. C. D . erly, traversing the great wheat belt o f Minnesota and North D akota, the
O ’bbon s, 106 W all S t., N . Y .; Secretary, A . Price; Treasurer, J. E . W hite. m ining district o f M ontana and the farm ing cou ntry of W ashington to
(V . 84, p. 571.)
T acom a and Seattle, and to P ortland, O re., with branches to W innipeg,
NORTH-EAST PE N N SYLV A N IA R R .— Owns road from Glenslde to & c. The system com prises:
New H ope, P a ., 26 miles. Controlled b y Reading Co. Capital stock,
M a in line.
M iles.
Leased to others.
M iles.
$400,000, o f which $318,950 owned b y Reading C o.; par, $50.
Ashland, W ls., to Portland,
T o other com panies----------------9
Ore. (lncl. 5 m . term inals)..2 ,1 7 1 T o P rovince of M anitoba---------- 355
NORTHERN A LA B A M A R Y .— Sheffield to Parrish. A la ., and branches,
Bralnerd and Staples to St.
N ot operated--------------- ;________
44
119 miles. In April 1899 a m ajority o f stock and bonds purchased by the
P a u l ______________________ 181
Southern R y . V . 68, p. 824, 873. See also V . 69, p. 391.
T otal (Inc. 17 m. trackage) . .5 , 8 3 6
Stock Is $2,000,000. U nder supp. m tge. o f 1898 $400,000 o f the ou t Other lines_____________________ 411
Controlled properties.
standing $1,700,000 1st 5s were m ade prior liens. Remaining $1,300,000
T otal main line_____________ 2,763 W ash. & Col. R iv er..................... 169
gen. lien bonds bear Int. for tw o years from July 1 1898 at 2 % , then 3 % for
tw o years; thereafter 5 %. V . 67. p. 1208. In year ending June 30 1906, Various b ra n ch e s ______________2,666 Minn. & Intern. (V . 7 7 . p. 451) 174
Other com panies_______________
44
gross, $510,057; net, $98,701. In 1904-05, net, $88,881. (V . 69, p. 28.)
T ota l, lncl. 17 m . trackage
NORTHERN (N. H.) R R .— Owns Concord, N . H ., to W hite R iver J et.,
(operated
d
irectly)________5,429
Total
system
July
1
1906............6.223
V t., 70 m .; branch to Bristol, N. H ., 13 m .; total 83 miles. Subsidiary lines.
Second track__________________
124
Concord & Clarem ont R R ., 71 m .- Peterborough & H illsborough R R ., 19 m.
The M anitoba branches, aggregating 354 m ., were leased for 999 years
Lease to Boston <Sc Lowell for 99 years from Jan. 1 1890 was assigned to from
May 31 1901 to the Provincial Governm ent and sub-let b y the latter to
Bos. & Me.; rental was 5 % on stock till July 1 1897, and now 6 % . payable In the Canadian
Northern R y . at a rental o f $210,000 annually for the first 10
g old . Until July 1897 1 % extra was paid regularly from contingent *und. years, then $225,000
for 10 years, then $275,000 for 10 years and thereafter
Also In 1894, Jan .. 5 % extra was paid; In 1896. July, 2 % extra; In 1897, 5 % $300,000. with option o f purchase any time for $7,000,000. V . 73. p . 610
extra: In July 1904, H % extra .— (V . 65, p. 463 V . 78. p. 2385.)
•On July 1 1900 the St. Paul & Duluth R R ., St. Paul to D uluth, & c.. 238
NORTHERN C A LIFO R N IA R Y .— See Southern Pacific R R .
m ., was m erged, and on July 1 1907 the W ashington & Columbia R iver,
NORTHERN CEN TRAL R Y .— Owns Baltim ore, M d ., to Sunbury, P a .. their bonded debt being assumed. V . 70, p. 1250; V . 71. p. 648; V . 84.
136 m ., o f which 132 m. double track— branch, 9 m .: leases— Shamokln V al. p. 1553. On June 30 1906, about 100 miles o f branches and extensions were
under construction. V . S3, p. 1110. Portland & Seattle R v ., proposed
& P ottsv. R R .. 38 m .: Elmira & W ’ m sport R R . 76 m .; operates at cost—
Elm ira & Lake Ont. R R ., 100 m .; Lykens V al. R R ., 19 m .; also since June 1 join t line with Great Northern, extending from Portland to Spokane.
W
ash., 423 miles, see V . 81, p. 1101; V . 83, p. 1111.)
1902 Y ork H anover & Frederick H R ., 56 m .; Y ork branch Penn. R R .
In O ct. 1906 acquired Port Angeles & Peninsular, projected 125 miles,
Y o r k , P a ., to C olum bia, 13 m .; other, 4 miles: tota l, 450 miles. Also uses
and Port Angeles & Olym pia, 97 miles. V . 83, p. 1099.
N . Y .L . E . & W . tracks. 7 m.
Northern Cent. Connecting R R . C o.. Incorporated on May 12 1903 with
H IS T O R Y .— This W isconsin com pany on Sept. 1 1896 succeeded to the
$350,000 authorized stock. Is building from a connection at Sellnsgrove Jctn. railroads, land grant and other property o f the Northern Pacific R R .,
to the main line o f the Penn. R R ., 35 miles. V . 78, p. 773.
foreclosed In July 1896, and reorganized per plan In V . 62. p. 550.
J u l y , 1907. |
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
g
Gross earnings.$61,223,476
Net ea rn in g s ____$30,128,043
T a x e s ....................
2,213,040
R entals, <5cc_____
160,469
A dds. & im p 't s .. 3.000.000
Deprec. o f eq u ip . 2.000.000
Insurance fund . .
1,081,980
$50,722,886
$23,914,127
1.601,000
160,469
3,000,000
$46,524,574
$22,290,031
1.462,775
158,369
3,000,000
Net oper. I n c ..$21,672,554
Mis.,exc.land sales 1,719,346
$19,152,658
1,921,567
$17,668,887
1,483,354
$46,142,105
$22,110,012
1,421,434
150,543
3,000.000
Bal. for Int____$23,391,900 $21,074,225 $19,152,241
I n t e r e s t ................
6,986,140
6,947,983
6,922,930
D lv. on com . stk(7) 10,850,000 (7)10,850,000 (7)10,849,989 (6 ^ )1 0 ,0 7 4 ,9 4 4
B al.,sur.for y r . $5,555,760
$3,276,241
$1,379,322
$1,670,946
D IR E C T O R S .— John S. K ennedy, D. Willis Jam es. George F. Baker,
W illiam Sloane, J. Pterpont Monran Jr., Lewis Cass Ledyard, H oward Elli
o t t , Charles Steele, George W . Perkins, William P. Clough. James N. H ill,
A m os Tuck French, A lex. S. Cochran, Payne W hitney and Grant B. Schley.
O F F IC E R S .— Pres., Howard E lliott. St. Paul, Minn.; V .-P ., James N.
Hill: S ec., G eorge' H. Earl, New Y ork; T reas.. C. A . Clark, St. Paul.
New York office, 34 Nassau S t.— (V. 84, p. 221, 508, 868.)
P A C I F I C T E R M I N A L C O M P A N Y , OF O R E Q O N . — Owns
terminals on the W illam ette R iver, O re., at Portland, East Portland and
A lbina, com prising lands 270 acres, trackage 32 miles, dock frontage 7,904
feet. Station at Portland, O re., opened 1896. V . 69. p. 230, 441.
4
$1,000,000
654,000
6
154,000
4M g
2,500,000
5 g
See text. 7 In 1906
8,021 000
6 g
6 g
'2,498,000
4 g
102,415,500
60,000,000
*7,616.000
1107613000 /
1
)
1,000,000
2,000.000
210,000
500.000
1.000.000
68.073
3,566,000
4
3
4
4
4
g
S
g
g
g
When
Payable.
Where Payable, and by
Whom.
Q— M
& J
& J
& O
Q— F
F & A
Q— F
J
& J
11 B roadw ay, N Y
do
do
do
do
Chase National B ank,N Y
New Y ork
do
do
do
do
Farm ers’ L & Tr Co, N Y
J
J
A
June
July
Jan
O ct
A ug
Feb
Feb
July
Q— J J P Morgan, N Y ; & Berp Jan
Q— F
do
do
Jan
& D
do
do
D ec
July
& J
do
do
do
do
July
Q— J
J
J
5
F
5
A
6
J
5
M
J
4 g
4H & 5
J
6 g
3,954 000 See text.
794,000
5 g
5 g
(?)
985,000
5 g
3,880,000
5 g
1,498,000
5 g
313,000
(?)
285,000
4
3,000,000
8
1,200,000
4
100,000
5 g
5 g
(?)
perated; sp urs, 261
Bonds— P rinci
pal. When Due
Stocks— Last
Dividend.
&
&
&
&
&
1907 1 %
1 1917
1 2000
1 1945
1‘ 07 1U %
1 1923
1 1923
1 1935
1
1
1
1
1
1997
2047
1996
1921
1921
A J P Morgan & Co, N Y Aug 1 1931
O
do
do
Oct 1 1917
J
do
do
Jan 1 1914
S
do
do
Sept 1 1916
D
do
do
June 1 1968
T o 1909
J W lnslow .Lanier& Co.N Y Jan 1 1933
&
Jan 10 1907 5 %
See text. Checks mailed
M & N Farmers’ L & Tr Co, N Y May 1 1923
1947
A * & O San Francisco & N Y
April 1 1928
J & J New Y ork & Frankfort Jan 1 1919
J & J Co’s office, San Francisco Jan 1 1912
A & O
Oct 1 1914
Mar 1 1957
M & S New Y ork
A & O Safe Dep & Tr Co. Balt A pr 1 1949
Mech N at B k, Worcester! July 1 1907 2 %
M & S C om pany’s Office, Boston Mar 1 1927
A & O City Nat B k, W atert.N Y! April 1 1932
J & D 30
1955
miles.
*$361 000 add'l In treasur y June SO 1906
*"3
The original N orthern Pacific C om pany was chartered b y Congress July 2
1864; 450 miles to Bismarck were foreclosed In 1875.
ST O C K .— The $75,000,000 preferred stock was paid off at par on Jan. 1
1902, the com m on being increased from $80,000,000 to $155,000,000. V .
73, p. 1062, 1160; V . 74, p. 41; V . 78, p. 1223. On Jan. 7 1907 the author
ized stock was increased from $155,000,000 to $250,000,000. See below.
Stockholders were offered the right to Jan. 15 1907 to subscribe pro rata
for $93,000,000 new stock at par, payable 5 % Feb. 1 and 7 H % April 1
1907, and the rem ainder in installments o f l 2 j ^ % each on July l a n d O ct. 1
1907, and the first days o f Jan ., A pril. July and O ct. 1908 and Jan. 1909.
Paym ents to and Including O ct. 1 1907 m ay be anticipated if m ade on any
preceding Instalment date. V . 83, p. 1471. 1524; V . 84, p. 221.
The Union Pacific system in Mch. 1907 owned $4,152,800 stock. V . 83,
p. 1322, 1352; V . 84, p. 508.
D IV ID E N D S .— '9 8 . '99. ’00. ’ 01. ’02. '03. ’04. '05. ’06.
1907.
On c o m m o n .._ p . c. 0
2
4
4
5H
7 6%
7 7 In c.A u g ,5 > i
On p ref.(retired )p .c. 5
4 4(Q .-M .) 4 1 (final) . . . .
.. ..
B O N D S.— Abstracts of the new Prior Lien and General Lien mortgages
o f 1896 were in V . 63, p. 1012-1019, and the statement to New Y ork Stock
Exchange was In V . 63, p. 1072, showing;
Prior lien 4 %s purchasable with land sales at not exceeding
110 (but not subject to ca ll), not over $500,000 cash yearly
to be so applied. Total issue________________________________$130.000,000
I s s u e d ................................................. __ ................. ................................ 105,979,500
Issued, but purchased and c a n c e le d ..___________ _____________
4,170,500
Reserved to retire St. Paul & N. P. and W est. R R . b on d s____
8,350,000
F or new construction, betterm ents, equipm ent, & c., under
carefully guarded provisions, but not exceeding $1,500,000
per annum. Originally $25,000,000— still h e l d ..................
11,500,000
O f the $190,000,000 general lien bonds, $130,000,000 are reserved to
retire the prior lien bonds at m aturity.
The St. Paul <& Duluth Division mortgage secures $20,000,000 purchase
m oney bonds on the form er St. Paul & Duluth, of which $9,215,000 were
Issued to acquire the road, $5,283,000 are reserved to retire existing St. P .
& D . bonds and the balance for improvem ents to the property. V . 70, p.
1250; V . 71, p. 1167. The lands included in the grant of the form er St. Paul
& Duluth tire estimated to be worth about $4,000,000, and were not co v
ered b y the old mtges. T hey are to be sold and proceeds applied to pur
chase o f the bonds at not over 105 and interest, or if not purchasable at
that price, then to betterm ents, Improvements or additions to the m ortaged premises or equipm ent therefor. T o July 1906 $2,264,000 had
een thus purchased and canceled. V . 71, p. 1167; V . 72, p. 339.
L A N D G R A N T .— The land grant was 12,800 acres to the mile In the
States of Minnesota and Oregon and 25.600 acres per mile In the (then)
intermediate territories. The acres on June 30 1906 not yet sold were:
M innesota_________________
14,0031W a sh in g ton _______________2,359,690
North D a k o t a .......................
7,062 IOregon ....................................
66,063
M on ta n a __________________ 6,669,6691
-------------Id a h o---------------------------------- 593,127! Total west o f M o. R iv e r .9 ,709,985
Land sales In year 1905-06 aggregated 141,362 acres; net am ount received
from sales and land contracts, $1,110,146.
F IN A N C E S .— In 1904 N or. P ac. and Gt. Northern had acquired $107.612,600 o f the $110,839,100 stock o f Chic. Burl. & Q uincy R R . in exchange
for their Joint 20-year 4 % gold bonds secured b y the deposit o f the stock in
trust, on the basis o f $200 In bonds for each $100 stock. See circular,
V . 72. p. 871, 1034, 1135; application to list. V. 73. p. 294; V . 73, p. 610.
Stockholders were in Jan. 1907 offered $93,000,000 new stock at par,
payable In installments to Jan. 1909, inclusive. See “ S tock” above.
E A R N IN G S .— For 12 m onths ending June 30 1907, gross, $09,510,052,
against $62,271,300 in 1905 06.
For 6 m os. ending Dec. 31 1906, net, $19,465,476; int. and rents, $3,586,975; taxes, $1,266,450; dividends (3 H % )> $5,425,000; im provem ents,
$1,812,220; b al., sur., $7,374,831.
R E P O R T .— R ep ort for 1905-06 at length In V . 83, p. 886, 1091.
Years end. June 30. 1905-06.
1904-05.
1803-04.
1902-03.
5,315
A ver, miles op er.
5,401
5,262
5.111
Passenger e a rn s ..$14,368,221 $11,335,852 $11,105,753
$10,595,447
Freight earnings. 44,041,467
36,861,132
32,998,821
33,301,958
Mall, express, & c. 2,813,788
2,525,902
’ 2,419,900
2,244,700
Rate
%
1
O
$100
Third m ortgage (now first) interest guaranteed___c
'2 1 1887
100 &c
_
Gen M $1,000,000 gold int guar b y lease____ U s m . c '
1900
1,000
Northern Ohio — 1st M g ($15,000 p m) gu p & i . . C e . c *
167 1895
1,000
Northern Pacific Ry— Stock $250,000,000 a u th ______
100
St Paul & N P gen M land grant a ssum ed . . C e c*& r
182 1883
1,000
do
do
registered__________________
1.000
182 1883
W ash <5c Columbia R iver 1st M gold assum ed__ F.c*
163 1895
1,000
New m ortgages o f Northern Pacific R y—
Prior lien M $130,000,000 gold land gr._M e.c*& r See z
1896
500 &c
General lien M $190,000,000 gold land g r._ F . c * <Scr See z
1896
500 &c
St Paul-Duiuth D lv pur m oney M $20 0 0 0 ,0 0 0 .G.c*
226 1900
1,000
C B & Q coll tr M g (red aft Jan '06 at 1 0 5 )..S c&r
1901 1,000 Sec
do
do
registered___________________
. . . 1901 1,000 &c
Bonds Underlying St Paul & Duluth D lv Mortgage
St Paul & Duluth first m ortgage assum ed______ c*
167 1881
1,000
Second m ortgage assum ed__________________ Ce.c*
167 1887
1,000
T a ylor’s F & L Sup 1st M s f not draw n____ Ce.c*
21 1884
1,000
Duluth S L 1st M p & 1 sink fd not d ra w n . . C^ .c*
25 1886
1,000
Consolidated M assumed $5,000 000 g o ld .-M p .c*
238 189j8
1,000
Car trusts including interest D ec 31 1906. ______
'98-1)9
Northern Pac Term Co — 1st M gold red at 110____F.c*
188j3
V,6o6
Northern Railway (Cal)— See Southern Pacific R R .
___
Northern Securities — Stock $3,954,000_______________
100
No rth w es te rn Coal Ry— 1st M guar (end) gold ___ F.c*
1,000
. . . 1893
N or t hw e s t er n Pacific — Stock ($35,000,000)_____
F
100
Cal Northw 1st M g guar by St F & Nor Pac s f _____
"40 1898
1,000
San Francisco & Nor Pacific 1st M gold s f.M e .c ’ &r
165 1889
1,000
North Pacific Coast gen M (now 1st) g o l d _________c
90.5 1892
1,000
Eel River & Eureka first m ortgage, _______
1894
First & ref m tge, $35,000,000 gold red 110 . Fxc*& r
1907 1 ioo'o' &c
N ort hw es te rn RR of So Car — First M $375,000______
~65 1899
1,000
N or w ic h & W o r c e s t e r — Preferred stock 8 % rental___
72
100
B onds (not M) int guar under lease currency____ c&r
1897
1,000
N o r w o o d & St L— 1st M $300,000 g red 110 in 10 yrsTa
500 &c
7 H 1902
N ova Scotia Eas tern — First m ortgage gold red (text) T ext.
1905
£100
p Berlin at 4.20 marks per dollar
z 5,130 miles. In cludin g 40 m lies not 0
IN T E R E S T OR D IV ID E N D S .
M ites Date
Size, or
Amount
Par
of
of
Road. Bonds. Value. Outstanding
Northern o f New Jerse y — Stock guar (see V 69, p 81)
NORTHERN
107
RAILWAY STOCKS AND BONDS.
L E A S E .— Leased for 50 years from Jan. 1 1883 jo in tly and severally to
N orthern Pacific, Oregon R y . & N avigation and Oregon & California, with
guaranteed rental to pay Interest, sinking fund and taxes; leases assumed
In 1899 b y new N or. P a c. and Oregon R R . & N av. V . 69, p . 230.
S T O C K .— Stock ($3,000,000) owned b y said three com panies (4 0% ) b y
Oregon R y . & N av. C o ., 4 0 % b y N or. P a c. and 2 0 % b y Oregon & Cal.
R R .) , and held b y Central Trust Co. o f New Y o rk , to be delivered after
paym ents to the sinking fund, which is to cancel the bonds.
B O N D S.— The first m ortgage is for $5,000,000; in Aug. 1907 $4,225,000 had
been issued, o f which $659,000 retired b y sinking fund— drawings at 110
and Interest. V . S2, p. 162; V . 83, p. 156; V. 84. p. 159; V . 85, p. 160.
NORTHERN SECURITIES CO.— In 1904 the U . S. Supreme Court de
clared the com pany to be a com bination In violation of the A nti-Trust A ct,
and therefore illegal. V . 76, p . 811, 919, 1249; V . 78, p. 1168. In April
1905 the pro rata plan o f liquidation given below was sustained b y the
U . S. Supreme Court, and the com p any’s holdings o f Great N orthern and
Northern Pacific stocks were being distributed.
The stockholders v oted on April 21 1904 to reduce the stock from $&95,400,000 to $3,954,000, the par value o f shares to remain $100. In return
for each 100 shares o f Northern Securities stock ow ned the holders to receive
99 times $39 27 stock o f the Northern Pacific, or $3,887 73, and 99 times
$30 17 stock o f the Great N orthern, or $2,986 83, and a stub for 1 % ($100)
o f the original N or. Sec. stock owned, the latter representing the remaining
assets in the treasury, pending com pletion o f dissolution. V . 78, p . 1223,
1275, 1392. R eport for calendar year 1906 was in V . 84, p. 103.
D IV ID E N D S .— Dividends 1902, 4 % ; 1903, 4H % \ 1904, F e b ., 1 ^ % .
On stock as reduced, 5 % each paid Jan. 10 1906 and 1907. V . 82, p. 101.
O F F IC E R S .— Pres., James J. Hill; Sec. and Treas., E. T . Nichols; Gen.
Counsel, W . P . Clough. O ffice, 32 L iberty S t., N . Y .— (V. 84, p. 103.)
NORTHW ESTERN COAL R Y .— Allouez B ay, W isconsin, to Allouez Jet.
W is., 2.53 miles, with coal wharf covering about 80 acres of land. V . 71
p . 698. Owned b y the Pittsburgh Coal C o., which guarantees the b ond s.
See official statem ent, V . 71, p. 698. Capital stock. $1,000,000. For year
ending June 30 1906, gross, $20,700; net, $295; int. and taxes, $11,967;
b al., def. for year, $11,672.— (V . 71, p. 698.)
NORTH W EST.— See Chicago & North W estern.
NORTHWESTERN PACIFIC R R .— T o operate a system extending from
Point Tlburon, Cal. (whence ferry to San Francisco. 6 m iles). northerly to
Eureka, with branches, about 404 miles in all. Incorporated Jan. 8 1907
in the interest o f Southern Pacific and A tch. T op. & S. Fe and took over
b y consolidation the Cal. & Northwestern, San Francisco & North Pacific,
North Shore R R ., San Fran. & Northwestern, Eureka & Klam ath River
and Fort Bragg & Southeastern, the odd director, it is understood, to annu
ally alternate. A connecting line o f over 100 miles is to be built from
W illits to P epperw ood.
B O N D S.— San Fran. & North Pac. 5s issued at $25,000 per mile; s. f . ,
$25,000 y ’ly; bonds drawn at 110 and int. (Mtge. abstract, V . 49, p. 241.)
As to old North Shore 5s dated 1902, see V . 80, p. 1913; V . 74, p 1252.
O f the first and refunding 4 ^ s o f 1907 ($35,000,000 a u th .), $10,000,000
were Issuable at once, $6,676,000 reserved to retire a like am ount o f under
lying bonds, $5,000,000 for improvem ents and equipm ent, and $13,324,000
for branches or extensions, including one from Shively to W illets and from
W endling to a connection with the line from Uklah to Tlburon. V . 84, p.
2 21 ,69 4 ; V . 85, p. 41.— V . 84, p. 103, 221, 272, 694, 1053; V . 85, p. 41.)
N ORTHW ESTERN R R. OF SOUTH C A R O L IN A .— W ilson Mill, S. C .. via
Sumter to Cam den, 62.5 miles; branch, Millard to St. Paul, 3.5 m .; tra ck
age, 5 m .; tota l, 71 miles. S tock , $100,000. D ividend, 6 % , paid yearly
D ec. 1900 to 1902; 1903 to 1905, 6 % . Year ending June 30 1906, gross,
$104,738; net, $45,709; Int., $28,883; deductions, $4,000; b a l., sur., $12,826.
NORW ICH & W ORCESTER R R .— Owns from N orw ich, C onn., to W o r
cester, Mass., 59 miles; branch, N orwich to G roton, 13 m .; tota l, 72 miles.
Leased to New England R R . for 99 years from F eb. 1 1869, and accepted b y
N . Y . N . H . & H . since July 1 1898; rental 8 % on p ref. s to ck .— V . 70, p.
125.)
NORWOOD & ST. LAW REN CE R R .— N orw ood to R aym on d vllle, N . Y ..
7)4 miles; opened O ct. 1901. S tock , $100,000; par o f shares, $100. Bonds
are subject to call at 110 after A pril 1 1912. Year ending June 30 1906,
gross, $56,355; net, $34,600; int. and taxes, $7,287; b a l., sur., $27,313.
P res., Chas. H . R em ington; Manager, F . A . Sherm an, N o rfo lk , N. Y
T reas., W arren F . H ow e, W atertow n, N . Y .— (V . 74, p . 1090.)
OGDEN MINE R R .— Owns N olan’s Point (Lake H opatcong) to Sparta
(or Ogden M ine), N . J ., 10 miles. Leased for 999 years from Jan. 1 1882,
to Central R R . o f N. J. for 5 % per annum on capital stock and $500 yearly
for organization expenses.
OGDENSBURG & L A K E C H AM PLAIN R Y .— See R utland’ R R .
OHIO CONNECTING R y.— Owns bridge over Ohio R iver near Pitts
burgh, P a ., and approaches. 9.07 miles. Leased from Oct. 20 1890 for no
definite tim e to Pitts. Cincin. Chic. & St. Louis R y .; rental, net earnings.
Stock increased in Dec. 1902 from $1,000,000 to $2,000,000 in $50 shares.
Bonds are guaranteed as to principal and Interest b y endorsement b y P enn
sylvania Company, which on Jan. 1 1907 owned the entire stock. Form of
guaranty, V . 81, p. 669. For calendar year 1906, gross, $348,924; net,
$287,135; other incom e, $39,072; charges, $80,000; dividends (5 % ), $100.000; b a l., sur., $146,207.— (V. 82, p. 281, 752.)
OHIO & KEN TU CK Y R Y .— Owns from L ex. & East. R y . at' Jackson,
K y ., to cannel coal fields In Morgan C ounty, K y ., 26 miles. Operated b y
Lex. & East. R y ., but Independent operation resumed in J u ly 1904.' Com
mon stock, $200,000; preferred stock, $100,000; bon d s,a s above, $250,000;
junior securities to be taken b y stockholders, $175,000. Bonds are guar
anteed b y K entucky B lock Cannel Coal Co. Year ending June 30 1905
gross. $81,511; net, $20,909. Pres., W . de L . W albridge, 1 Broadway,
New York
108
RAILWAY STOCKS AND BONDS.
|V o l .
lxxsy.
Ju ly
1907.]
RAILWAY STOCKS AND BONDS.
109
RAILWAY STOCKS AND BONDS.
110
R A IL R O A D S .
For explanation of column headings, & c., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
Ogden Mine RR— Stock (5 % rental Central o f N J )___
10 _____
Ohio Conn Ry— 1st M $2,000,000 g gu p & 1 (text)F .c*
9; 1903
Ohio & Kentucky— 1st M gold sink fd call at 110.Ce c*
261 1896
Ohio & Little Kanawha Ry— 1st M gold red 105____ K
80 j 1900
Ohio River— First m ortgage ($2,000,000) g o ld _FP.c*
172 1886
General M ($3,000,000) gold first on 39 m ile s ..F P .c*
209 1887
R av Sp & Glen 1st M $400,000 g gu p & l_ .F P .c* i
33 1890
H untington & Big S 1st M ($400,000) gold gu ar, .c * ;
11' 1892
R ipley & Mill Creek 1st M g gu p & i (end)_F P .c*& r
13 1888
Ohio River & Western— First m ortgage $600,000 g . . F
111 1903
Oklahoma Central— 1st M $10,000,000 redeem (t e x t ).
1905
Old Colony— Stock 7 % guaranteed b y rental______ c*
Bonds not m ortgage________________________________r
1888
Bonds not m ortgage (authorized $3,000,000) g c*& r
, 1894
Bonds not m ortgage____________________________ c&r
___ 1895
B oston Clinton F & N B m ortgage______________NB.c
125; 1880
Bonds not m ortgage____________________________ c&r
. . . 1902
Omaha Bridge dt Terminal Ry— 1st M ($ 5 ,0 0 0 ,0 0 0 )..
21 1893
Opelousas G & N E— 1st M $5,000,000 g gu (text) M e ..
. . . I 1906
Oregon & Cal— 1st M gold drawn at 100 gu p & 1. Un.c*
670; 1887
Oregon RR & Navigation— Comm on stock ___________
Preferred stock 4 % non-cum ulative________________
Consol m ortgage (now first) $24,500,000 g o ld .-N -c* 1 063 1896
Oregon Short Line RR— First M (R y Co) g o ld ______ c*
600 1882
Utah & N orthern first m ortgage ($12,000 p m ) ..c *
477 1878
Cons M guar $15,000 p m s f not drawn g o ld . AB.c*
477 1886
Cons 1st M $36,500,000 gold (1st M on 400 m )..Q .c * 1,479 1897
R ef M $100,000,000 g gu p & 1 red (text) _.E q .c*& r
1904
Incom e bonds Series A 5 % non-cum ulative_____ OB
1897
do
Series B non-cum ulative__________ Mo
1897
Oregon & So E— 1st M $300,000 gold red 110 s f . .Ta
1902
Oswego & Syracuse— Stock 9 % guaranteed D L & W ,
Consolidated m ortgage (guaranteed b y D L & W ) . .
1876
Construction m ortgage guaranteed (for $1,000 000) F
35} 1883
Overton County— First m ortgage $250,000 g o ld . ______
20 1905
Ow ensboro & Nashville— First m ortgage g o ld . C c*
88 1881
Ozark & Cher Cent— 1st M gold guar p & 1 red par__N
144| 1903
Musk Cy Bridge 1st M g int rent red 105 beg ’ 07 SSt c*
. . . 1902
Pacific & fiHstern— 1st M gold red (text) .......................
1907
IN T E R E S T OR D IV ID E N D S .
S ite, or \
Par
Amount \ Rate
When | Where Payable, and by
Value. Outstanding
Payable.
Whom.
$100
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 &c
1.000 &c
1,000
1.000 &c
1,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
500 &c
1.000 &c
500 &c
500 &c
500 &c
50
1,000
1,000
1,000
1,000
1,000
1,000
100 &e
OHIO & LITTLE K A N A W H A R Y .— Zanesville, O ., to M arietta, & c..
80 miles. V . 69, p. 907. Balt. & Ohio has pledged under Its Pitts. L . E . &
W est V a. m tge. $585,000 com . and $824,000 pref. stock. V . 73. p. 1264
S tock is, co m ., $918,000; p ref., $1,167,500. Year 1904-05, gross, $255,717;
net. $48,107.— (V . 73. p. 1264.)
OHIO R IV E R R R .— (See B . & O. M a p .)— In July 1901 purchased b y the
B alt. & Ohio R R ., which has pledged $5,884,400 o f the $5,915,430 capital
stock as part security for its own Pitts. L . E . & W . V a. 4s.
R E P O R T .— Year ending June 30 1902, gross, $1,559,152; net, $585,942;
Int., $252,536; b a l., sur., $333,406. Earnings since July 1 1902 are in
cluded in those o f B. & O .— (V . 72, p. 287; V . 73, p . 287.)
OHIO R IV E R & WESTERN R Y .— Owns Bellaire, O ., to Mill R un, O .,
I l l miles; narrow gauge trackage to Zanesville, 1 mile. In Sept. 1906
acquired “ cou nty railway” at Zanesville, 9 miles. Also owns m ajority
stock of International Coal C o., holding 25.000 acres adjoining road. Suc
cessor Jan. 1 1903 to Bellaire Zanesville & Cincinnati R R . In 1905 control
reverted to the original owners, including S. L. & W . C. M ooney o f W oodsfield. O. V . 80. p. 163, 473, 600, 1913.
The stockholders were to vote Dec. 4 1906 to increase the stock from
$1,200,000 to $4,000,000 to change the gauge to standard, build extensions
e tc.; also to issue not exceeding $4,000,000 o f 5% bonds. V . 83. p. 1099.
In year ending June 30 1906, gross, $227,033; net, $77,202; Int. and
taxes, $28,943; Im provem ents, $20,008; b al., sur., $28,251.— (V . 79, p
2206; V . 80, p . 163, 473, 600. 1913; V . 83, p. 1099.
OK LAH O M A CENTRAL R R .— Under construction from Lehigh, I. T .,
to Chickasha, 132 m ., o f which Lehigh to Purcell, 90 m ., com pleted Mch.
1907.
Stock authorized, $10,000,000 (par o f shares, $100) o f which
$2,640,000 to be issued on 132 m .; to be held until 1910 in voting trust
com posed of directors. O f the bonds, $20,000 per mile under construction
have been sold. Bonds are subject to call at par until Dec. 1 1906, there
after at 105; the Western Trust & Savings Bank of Chicago Is mortgage
trustee. See statem ent, V. 82, p. 752. Pres., Dorset Carter, Lehigh, I .T .;
Sec. and Treas., W . G. W alling.— (V. 82, p. 752.)
OLD COLONY R R . (M A SS.)— Owns road from B oston to P rovincetow n,
Mass., N ew port, R. I ., & c., 518 miles; leases 101 miles. In June 1907 a
bill was passed perm itting purchase o f Boston & Providence (leased line),
64 mHcs. V . 84, p. 391, 1487.
L E A S E .— In 1893 leased to N ew Y ork New Haven & H artford for 99
years. Of the stock, $6,896,700 was June 30 1906 held by the lessee.
The lease provides for dividends of 7 % per annum on stock not exchanged.
V . 76, p. 247, 374. Stock a u lh ., $20,000,000. (V . 82, p. 1041.)*
OM AHA * DENVER SHORT LINE R R .— P rojected from Om aha, N eb .,
to Denver, Col. about 500 miles. Incorporated in Colorado In 1906. In
April 1907 surveys and rights o f w ay were com pleted. Contracts for
work are to be let shortly. Stock authorized, $12,500,000; par o f shares,
$100. V . 83, p. 94.
OPELOUSAS GULF & NORTHEASTERN R R .— P rojected from Ope
lousas, L a., northeasterly to a point at or near the Mississippi R iv er, and
southwesterly from Opelousas to the Gulf of Mexico. Of the line, 60 miles
from Melville to Crowley are under construction, 23 miles teln g in operation
May 1907. Stock authorized, $2,000,000; par o f shares, $13. Bonds
authorized, $20,000 per m ile, will be guaranteed by T ex. & Pac. as issued.
V . 82, p. 98; V . 83, p. 688. Pres., C. E. Satterlee; S ec., P. B . Berts.
Office, Opelousas, I.a.— (V . 83, p. 688.)
OREGON & C ALIFO RN IA R R .— (See M a p Southern P a c.)— Portland
O re., to California State line, 367 m .; A lbany Jet. to Lebanon, 12 m .; P ort
land to Corvallis, 97 m .; W oodbu rn to N atron, 93 m .; Portland, O re., to
Alrlee, O re., and branch, 81 m .; Mohawk Jet. to W endling, 16 m .; trackage,
1 m ile. T otal, 665 miles.
L E A S E , &c.— Leased to Southern Pacific Co. for 34 years from August 1
1893, the lessee guaranteeing Int. on the bonds and the lessor receiving any
net profit and being charged with any deficit after paym ent o f charges. Bet
terments are payable b y lessor. Southern Pacific owns all but $38,802 of
the $19,000,000 stock, $12,000,000 of which is 7 % pref. V . 72, p. 287.
Due Southern Pacific June 30 1906. $7,371,737.
B O N D S.— Land grant acreage unsold June 30 1906, $2,339,108, part
being covered b y the m ortgage, proceeds o f land sales going to redeem bonds
(subject to call at p ar). The Southern Pacific guaranty o f principal and
nterest is printed on each o f the 5 % s. See V . 63, p. 754.
E A R N IN G S .— Year ending June 30 1906, gross, $5,885,183; net,
$1,316,902; in t., taxes, & c ., $1,382,214.— (V . 79, p. 2457; V . 80 p. 2220.)
OREGON R A IL R O A D & N A V IG A TIO N .— (See M a p Union P a c.)— East
Portland, O re., to H untington, O re., 403 m.'; U matilla. Ore., to Spokane,
W ash ., 227 m .; branches ow ned, 445; leases Snake R iver Valley R R ., W allula to Grange C ity, W ash., 66 m .; other, 2 m .; tota l, 1,143 miles, of which
13 narrow-gauge; river division water lines, 258 miles. Ocean line to San
Francisco, 660 miles. A branch from Arlington to Condon. O re., 46 miles,
built b y the Columbia R iver & Oregon Central R R ., Is leased from July 1
1906. Extension Garland to Malad, 32 miles, was opened Julv 1 1906.
Branch from Elgin, O re., to Joseph. 63 miles, also extension o f St. John's
branch, 20 miles, is under construction.
The Oregon & W ashington R R . will build from Portland, O re., to Puget
S ou n d , about 230 miles.
O R G A N IZ A T IO N .— Organized in July 1896, per plan In V . 61, p . 325
and V . 62, p. 41. Controlled b y Union Pacific R y ., directly and through Ore
gon Short Line. Owns $700,000 1st 5s (entire Issue) o f Columbia Southern
R y ., Biggs, O re., to Shaniko, 71 miles. V . 73, p. 1363.
S T O C K .— In July 1906 all except $20,200 com . and $7,880 p ref. stock
was owned b y Un. P ac. system , being m ostly deposited under Ore. Short
Line refunding 4s o f 1904. V . 70, p. 177; V . 80. p. 1913.
D IV ID E N D S .— On preferred: 1897, 2 %; 1898 to July 1907, b oth Inclu
sive, 4 % yearly. On common paid 1 % July 2 1898.
B O N D S .— Consol. 4s (abstract V . 63, p. 928), cover all property. O f the
$24,500,000 authorized, the bonds unissued are m ostly reserved for the co n
struction o f additional road at the rate o f not more than $20,000 per mile of
constructed road. V . 74, p. 206. N o separate rep ort.— (V. 84, p. 1248.)
[V o l.
$450,000
5
2,000.000
4 S
250.000
5 g
228.000
5 g
2,000,000
5g
2.941.000
5g
376.000
6g
303.000
6 g
50,000
6 g
600.000
4 g
See text.
5g
18,371,400
7
4.000.000
4
3.000.000
4 g
5.598.000
4
1.912.000
5
1.000.000
3H
1.563.000
5
See text
5 g
17.745.000
5 g
24.000.000
11.000.000 4 "in 'i907
21.479.000
4 g
14.931.000
6 g
4.993.000
7
1.802.000
5 g
12.328.000
5 g
See text.
4 g
7.185.000 5 % in Se
14.841.000 4 in 1905
300,000'
5 g
1,320,400
9
438.000 See text
668.000
5
250.000
5 g
1.200.000
6 g
2,880,000
5 g
100.000
5g
See text
lxxxv
.
Bonds— P rinci
pal, When D u e.
Stocks— Last
Dividend.
J
M
J
&
608 Chestnut S t. Phila
July 1907 2 }^ % .
&
Farmers’ L & Tr Co, N Y ,Sept 1 1943
&
1 B roadw ay, New Y ork July 1 1926
Knickerbocker Tr C o,N Y Mar 1 1950
&
&
Central Trust Co, N Y iJune 1 1936
&
do
do
A p ril 1 1937
&
do
do
Aug 1 1920
&
New Y ork or Philadelphia July 1 1922
&
E W Clark & Co. Phila A u g 1 1908
&
B altim ore, Md
iSept 1 1953
& D iU S M & T Co, N Y ; & Chi Dec 1 1 9 4 5
!July 1 ’ 07 1 % %■
Office, Boston
Q— J
1938
J
& J
do
|Jan
1924
& A
do
|Feb
1925
& D
do
IDec
1910
& J New Eng Trust Co, Bost Jan
&
1932
Treasurer's Office, B oston'July
1943
&
P rov L & Tr C o, Phila Feb
1956
M &
Mercantile Trust C o, N Y Mar
J
&
South Pacific Co, N Y
July 1 1927
Office, 120 B ’w ay, N Y July 2 1898 1 %
& J
do
do
July 1 1907 2 %,
& D New Y ork & Germany June 1 1946
& A 120 B roadw ay, N Y
1922
Feb
& J
1908
do
do
July
1926
& J
do
do
July
& J
do
do
1946
July
& D
do
do
1929
Dec
pt 1906
do
do
1946
July
Oct
do
do
1946
July
A & O Trust Co. o f A m er, N Y April 1 1922
F & A 20 Del Lack & W est R R .N Y A ug 20 1907
See text.
do
do
Matured
M & N
do
do
May 1923
J
& J Colonial Tr & S B k, Chic O ct 1 1945
& N 71 B roadw ay. New Y ork jN ov 1 1931
& O New Y ork Trust Co, N Y ;O ct 1 1913
& J St Louis Union T r, St L July 1 1942
fc d OregTr&SavBU .Portland1June 1 1937
OREGON SHORT LINE R R .— (See M a p Un. P a c.)— Granger. W y o ., t o
H untington, O re., 542 miles; branch to K etchum , Id a ., 70 m .; Ogden to McCam m on, Id a ., I l l m. Pocatello to Sliver B ow , M on t., 256 m .; Cache Jet.
Id a ., to Preston, U tah, 42 m .; Ogden, U tah, to Sandy, 50 m .; sundry
branches, & c., 262 m .; Butte to Garrison, M on t., 57 m ., ow ned, but oper.
b y N or. P ac.; trackage, 11 m .; total, June 30 1906, 1,401 miles.
On July 7 1903 the portion o f the main line from Salt Lake C ity, U tah, t »
Calientes, N e v ., 340 m ., with some branch mileage and additional completed'
road south o f Calientes, 512 m . in all, was taken over under purchase b y San
Pedro Los Angeles & Salt Lake R y ., the Ore. Short Line acquiring a half In
terest In the San P edro L . A . &-S. L . V . 79, p. 1705. V . 76, p. 919, 1356;
V . 77, p. 38. Extension was proposed in July 1907 from E lva, Idaho, t o
Jackson, W y o ., 105 % miles.
H IS T O R Y .— Successor March 16 1897 o f the Oregon Short Line & U tah
Northern R y . foreclosed per plan In V . 62, p. 504. 505. Controlled b y Un.
P a c., which holds nearly the entire capital stock *nd the greater part of the
Incom e A and B bonds. V . 75, p. 1032. Acquisitions In 1906. $36,393,432 i \ i % notes given In part paym ent m aturing In Mch. and Sept. 1907.
V . 84, p. 52, 572, 932. In N ov. 1906 allied interest acquired control o f the
Utah Light & Railway, Salt Lake City. V . 83, p. 1171.
C A P IT A L S T O C K .— A u th orlied , $27,460,100, of whloh Union Pacific
R R . Co. has acquired $27,450,100. V . 68, p. 188, 381, 474. In 1906 paid
50% dividend. V . 84, p. 52.
BO N D S.— O f the $36,500,000 first consols, $22,029,000 t i e reserved t o
retire at m aturity the loans not disturbed.
Series A Incom e?, non-cum ulative 5 per cents, have received: In Sept.
1897, 4 %; Sept. yearly since, the full 5 % , at G uaranty Trust C o., New
Y o rk , or Old Colony Trust, B oston. V . 69, p. 492.
Oregon R R . 4 Navigation stock, v iz., $16,281,400 com m on and $976.900
preferred Is owned and pledged as special security for th e Series B incomes,
but dividends thereon are to go to the Short Line com pany except as needed
to pay to Series B their full Interest
In O ct. 189* 3 Vr and '.n O ct. 1899 to
1906, Inclusive, 4 % yearly was paid on the Series B incom es. V . 65, p. 572:
V . 65, p. 1141.
The union Pacific owns $6,800,000 of the $7,185,000 Incom e "A ." bonae
and $14,793,000 o f the $14,841,000 ” B ” bonds. V . 70, p. 176.
The ref. gold guar. 4s (collat. trust) o f 1904 (authorized Issue, $100,000,000) are suDject to call at 102 H on and after Dec. 1 1907. The bonds were se
cured by pledge o f the following stocks: $5,000,000 Northern Securlt es;
$18,000,000 pref. and $90,000,000 com . Sou. Pac. and $10,000,000 pref. and
$20,000,000 com . Ore. R R . & Nav. The collateral m ay be replaced by other
o f equal value. O f the bonds, $45,000,000 has been sold, the remaining
$55,000,000 being held In U nion Pacific treasury. See abstract of m ort
gage, V . 80, p. 3403. V . 79. p. 2086; V . 80, p. 1913.
Financial office, 120 B ’w ay, N. Y . C ity.— (V . 84, p. 52, 932.)
O R E G O N A S O U T H E A S T E R N R R . — T o extend from Cottage Grove
O re., to the Bohemia Mining D istrict, 36 miles, o f which Cottage Grove to
W ild w ood, 20 m ., com pleted In Oct. 1906; branches, 4 m .; total, 24 m. E x
tension from W ildw ood to Bonita, 6 m ., will be com pleted In summer o f
1907. Stock authorized, co m ., $500,000; p ref., 7 % cu m ., $500,000; out
standing, $400,000 of each; par o f shares, $100. Pref. Is subject to call.
B onds, see table. P res.,G .B .H en gen ,15 William S t ..N .Y .— (V .7 5 ,p .l3 5 .)
O S W E G O & S Y R A C U S E R R . — Owns from O s w e g o , N. Y ., t o Syracuse,
N . Y . t 35 miles. Leased In 1869 during length o f charter and renewal thereof
to the Delaware Lackawanna & W estern R R . Co. for 9 % per year on $1,320,400 stock and Interest on bonds. The $438,000 7 % bonds due Mch. 1
1907 were purchased at m aturity by the D. I.. & W .
OVERTON COUNTY R R .— Owns A lgood , T enn ., on Southern R y.,. t o
Livingston, 20 miles, com pleted March 1906. Extension easterly to Junc
tion C ity, K y ., on the Cln. New Orl. & T ex. P a c., 76 miles, under construc
tion. Stock authorized, $250,000, to be increased to $2,500,000. Bonds,
see table above; trustee, Colonial Trust & Savings Bank. Chicago. V . 81,
p. 727. Car trusts, $18,000. Gross earnings in 1906, $70,000; net, $52,000; dividends (5 % ), $12,500. Pres., Geo. L. W ilkins, Chicago; Sec. and
Treas., E. C. Knight, Livingston, T enn .— (V. 83, p. 626; V . 84, p. 103.)
O W E N S B O R O A N A S H V I L L E R Y . — Owns from O w ensboro. K y ., to
Adalrvllle, K y .. 84 mllee; Mud River Branch. 4 m. Operated by Loulsv. &
N a s h v . R R .. which owns the $1,156,525 stock (par, $100) and the $1,200,ls t m tge. bonds— all these bonds and m ost o f the stock being pledged under
Its trust deeds.
O Z A R K * C H E R O K E E C E N T R A L R Y — (See M aps Rock Island Co.)
— O w n s F a ye tt e vi l le , A rk ., to O k m u lg e e , I. T ., 144 miles, including
steel br id ge o v e r Arka nsas River.
Stock, $9,000,000, o f which $2,880,000 Is Issued and owned b y the St.
Louis & San Francisco, which operates the road as part o f Its Central division
and guarantees bonds, principal and Interest. The 9120,000 unissued
bonds art reserved to retire the $100,000 Muskogee City Bridge bonds. See
V . 79, p. 865, 919: V . 78, p. 703. 2335.— (V . 80 D. 1424 )
PACIFIC & EASTERN R Y .— Owns M edlord to Eagle Point, O re., 11
miles. T o be extended 89 miles to Butte Falls and Klam ath Tails, m aking
about 100 m iles.— A cquired the Medford & Crater Lake R R ., bid In at
receiver's sate May 11 1907. Stock authorized. $1,000,000; outstanding,
$500,000; par, $100. Bonds (Oregon Trnst & Savings Bank o f P ortland,
O re., Trustee.) are subject to call after 10 years at 105; outstanding June
1907, J200.000. V . 84, p. 1552. Pres., W . Cooper Morris: V lce-Pres.
S. W . Strykes, S ec., Treas and Gen. Mgr., Geo. Estes, Portland, Oregon
— (V . 84, p 1552.)
PACIFIC R A IL W A Y & N AV IGA TION CO.— V . 84, p. 1308.
P A N A M E R I C A N R R . ( M E X I C O - O U A T E M A L A ) .— Projected from San
Geronim o, M ex., on the National Tehuantepec R R .. southeasterly to the
Guatem ala border, about 300 miles, with connections to the City o f Guate
m ala, o f w h ic h 200 miles com pleted In Mch. 1906; balance to be In about 18
m onths. Mexican G o v ’t subsidy about $10,000 gold per mile. Stock au
thorized, $10,000,000; outstanding, A pr. 1906 $1,084,600. Bonds author
ized, $12,000 per mile o f main track, but limited by supplem ental m tge. t o
$8,000 per mile until the net earnings are double the Interest charge on theentire authorized am ount. In 1906 $1,000,000 bonds were sold. Pres., IX
P. D oak, San F rancisco, Cal.— (V. 82, p. 693; V . 83, p. 213, 436.)
J u l y , 1907.]
R A IL R O A D S .
F or explanation of column headings, dec., see notes
on first page of tables.
M iles ! Date | Size, or
Am ount
of
of | Par
Road. Bonds, j Value. Outstanding
P in -A m er RR (M ex-Quat)— 1st M (text) red 1 0 5 ..c *
$1,000
Panama— S to c k _______________________________________
50
100
First M $4,000,000 s f gold red at 105 (text) ..C e .c *
50 1897
1,000
Subsidy bonds gold drawn at 100 (V 64, p 705) .. c *
50 1880
1,000
Paterson & Hud Riv— Stock 8 % rent N Y L E 4 W
14
50
Paterson & Ramapo— Stock (rental gu aran ty)______
14
Pemijjewasset Valley RR— S tock (rental g u a r a n ty )..
..........100
Penn Eastern— Quakertown& Eastern 1st M g .Q u P .c*
" l5 1897
500
Pennsylvania RR— Stock $400,000,000___________ Tr
50
General m ortgage bonds $1,000 and £200 e a c h ..c & r
857 1867
S or £
Cons mort of] Gold registered b o n d s ____________ r
857 1879
1,000
1873 securesfG old cou pon b o n d s _______________c
857 1879
1,000
all equally.
Gold coupon s f 1 % not d ra w n ..c*
857 1893
1,000
Sterling (s f In 1900) not drawn.c* &r
857 1895
£200
Bonds (P W & B stock as collateral)_____________ r
1881
1,000
Collateral trust loan gold not drawn_____________ c * ;
1883
1,000
Collateral trust notes $60,000,000 __________________ I
1907 5,000 &o
Gold bonds redeem able (text) con vertible___QP.c*
1902
500 &c
do
do
do
do
c*& r
1905
500 &c
Phlla & Erie M (now 1st) g o ld _____________________c
307 1869
1,000
do
do
($5,263,000 are 5 s)_______ r,
307 18W
1,000
SunD Haz & W llk 1st Series A drawn at 100______ c
43 1878
100 &o
Second m ortgage Incom e_____________________c&r
43 1878
100 &c
Sun & Lewis 1st M $600,000 p & 1 g o ld ____ GuP.cV
56 1896
1,000
W est Chester first m ortgage assum ed_______________
5 1879
100 &c
W est Pa consol m ortgage gold assum ed____ PIP c*
1,000
138 1888
R iver Front first m ortgage assum ed________________
4.62 1882
1,000
Southwest Penn 1st M s f $5,000 yearly not draw n .r
131 1877
1,000
Pitts V a & Ch 1st M gold guar p & 1______ Q P .c’ &r
1904
1,000
Equip trust gold bonds (s f 5 %) not draw n______ c*
1,000
1889
Penn rolling stock trust gold $300,000 paid eachA&O
1,000
Penn car trust gold $300,000 paid yearly_________
1899
1,000
Penn car trust gold $700,000 paid yearly_________
1,000
1900
Penn equipm ent trust gold $200,000 paid yearly___
1900
1,000
do
do
$400,000 paid yearly___
1,000
1901
do
do
$400,000 paid yearly___
1902
1,000
Penn steel car trust gold $700,000 paid yearly____
1,000
1902
do
do
gold $300,000 paid yearly___
1902
1.000
x On cou pon bonds J & J on registered bonds a & O .
In cludln g $313.2
P A N A M A R R — See page 178.
P A T E R S O N & H U D S O N R I V E R . — Owns from Marlon, Jersey C ity, N
J. (south o f Bergen J e t .). to Paterson, N. J ., 14 mile double track. Leased
in perpetuity at $48,400 per year for road, $5,000 for land In Jersey City
and taxes, to Erie R R ., form ing part o f main line.
P A T E R S O N & R A M A P O R R . — Owns from Paterson. N. J ., to New Y ork
State Line, 14 miles, double track, part o f main line o f Erie R R . to which
teased Sept. 1852 during legal existence, at $26,500.
PE CO S V A L L E Y & N O R T H E A S T E R N R Y . — (.See M ap Atch. Top. &
Santa F e .) — Owns from Pecos C ity, T ex ., to A m arillo. T ex ., 370 m iles;
branch Am arillo to Plalnview, 75 miles, opened March 1907. In Dec. 1900
the A tch. T op . & Santa Fe acquired over 97 % o f the $2,916,000 bonds (50year gold 5s o f 1948) and 97 % o f the com m on and preferred stocks ($3,162,000 ea ch ). Operated from July 1 1906 as a part o f the A tch . T op . & Santa
Fe system . V . 72, p. 88, 137; V . 73, p. 736.
R E P O R T .— Year 1905-06, gross, $1,187,090; net, $508,902; other Income,
$190,501; total deductions, $443,219.— (V . 73, p. 900.)
PE M IGEW ASSET V A L L E Y R R .— P lym outh, N. H ., to Lincoln, N . H .,
23 miles. Leased to Concord & M ont. for 6 % on stock; oper. by B ost. & Me.
P E N N S Y L V A N I A E A S T E R N R Y . — Quakertown to Riegelsville, P a ., 15
miles. In 1906 name was changed from Quakertown & Eastern R y.
S tock, $180,000, all outstanding; par of shares $50. Year ending June 30
1906, gross, $13,805; op. d ef., $1,011; charges, $10,863.— President, John
Jam eson; S ec., Henry S. Funk, Quakertow n. P a.— (V . 83, p. 1471.)
P E N N S Y L V A N I A R R . — (See M a p s ) — The system , as shown on the ad
joining m ap, extends from New York City westerly, via Philadelphia, to
P ittsburgh, Erie, Cleveland, T oled o, Chicago and Burlington on the north,
and to W ashington, Cincinnati, Louisville and St. Louis on the South. The
total system on Jan. 1 1907 aggregated 11,080 m iles, o f which 3,820 miles
represents the mileage operated directly under the caption “ the lines east
o f Pittsburgh and E rie,” and 2.865 miles the mileage operated directly under
the caption “ the lines west o f Pittsburgh and E rie,” the latter being m ore
fully described under the title Pennsylvania Company and Pittsburgh Cin
cinnati Chicago & St Louis. The other lines are operated Independently
East of Pi t t s bu r gh and Erie.
|
M iles.
Main Line and Branches— M iles Other lines (Incl. D .& R . Canal
Phlla. to Colum bia, P a .................. 81
66 m ., and ferries, 2 m . ) . _ ____ 493
P h lla., P a ., to New B os.J et., &C.290
Harrisburg, P a ., to P itts., P a ____ 248
Total in Penn. R R . statistics 3 820
Branches and spurs______________700 Trackage _______________________ 143
REPORTED SEPARATELY—
T otal main line and branches 1,319 Phlla. Bait. & W ashington______ 702
Lines oper. by lease or contract—
Northern Central R y * ___________ 450
H ar. Ports. Mt. J oy& L a n .R R .*
W est Jer. & Seash. R R .* ______ 331
DUlersvllle to Harrlsb. ,Pa. ,& c . 53 Cumberland Valley R R .* ________163
U nited New Jer. R R .* , Trenton
Long Island*_____________________ 392
to Jersey C ity, & c____________ 147 Balt. Ches. & A tlantic R y _______ 88
Phlla. & Trenton R R .* __________ 26
A llegheny Valley R y .* __________ 262
Grand total east o f P. & E ___6,110
W est. New York & P en n .* ______ 549
W e s t of Pi t t s bu r gh & Erie.
Connecting R ailw ay*____________ 37
R E P O R T E D D IR E C T L Y —
Lines operated under contract—
Pitts. O >. Chic. & St. I.o u ls * ..1 ,5 2 6
Bald Eagle Valley R R .* ................ 94
PennsyU nla Company lines*__1,339
Cambria & Clearfield R R .* ______ 393
Belvldere Delaware R R .* ________81
Total reported directly ............2,865
P h lla .•& Long Rranch R R ______ 49
REPORTED SEPARATELY—
Delaware R iv. R R . & Bridge*
10 Grand Rapids & Indiana lin e s * .. 575
Phlla. & Erie (acquired May 1 ’07)307 Vandalla R R .* __________________ 923
Other lines (sec Pa. Co. statem ’ f.) .505
• S e e each com pany's statem ent.
Total system Jan. 1 1907. ..1 0 ,9 7 8
O R G A N IZ A T IO N . L E A S E S, &c.— The charter o f the Pennsylvania R R .
was dated April 13 1846. The Pennsylvania Company controls all the lines
west of Pittsburgh and Erie, the Pennsylvania R R . C o. holding all Us stock.
In 1900 acquired m ost o f stock and incom e bonds o f W estern N. Y . & Penn.
V . 72, p. 481.
The Wettern New York & Pennsylvania R y . and the Allegheny Valley
R y . were taken over under lease In 1900 In M ay 1900 purchased a majority
of Long Island R R . stock. V . 72. p. 481. W estern Pennsylvania and other
roads connecting with the main line were m erged \prll 1 1903, the Pitts
burgh Va. & Charleston In 1905 and the Phlla. & Erie May 1 1907. v . 76,
p . 486, 594; V. 80, p. 1112; V . 84, p. 1183. The stockholders voted March
13 1906 to purchase the Allegheny V alley R y ., South West Pennsylvania
R y . and York Hav. & R ow . R R . V . 82, p. 453, 629; V . 84, p. 626.
S E C U R IT IE S O W N E D .— The total cost o f these to Jan. 1 1907 was
$194,769,719; m any o f which are pledged to secure Pennsylvania Issues.
Revenue derived from these securities In 1906, $11,741,184.
D r v s . ( ’88. ’89. '90. ’91. ’92. '93 to '99. '00-M ay '06. N o v .'06
1907.
P . Ot. 1 5
5 5 *-<> 6
6
5 yearly.
6 yearly.
3M
May,3J^
In 1893 paid also 2 % in scrip.
ST O C K .— The stockholders March 10 1903 authorized an Increase In
stock from $251,700,000 to $400,000,000, to be m ade from tim e to tim e
In the discretion of the directors. Of the stock, $20,980,350 was Issued
April 1903 in exchange for convertible debentures. (See below.)
In 1903
sold $75,094,750 new stock at $60 per $50 share. V . 76, p. 383, 488, 594
706, 1193; V . 77, p. 37, 770. In 1905 $1,106,650 stock was being Issued in
exchange for the Southwest Pennsylvania R y. m inority stock per terms In
V . 80, p. 2458, and In 1906 $2,980,000 stock In exchange for the $5,296,750
Allegheny Valley m inority pref. stock at the rate o f $56 25 Penn, stock
for $100; over 90% o f said pref. having assented. V . 81, p. 1493; V . 82,
p. 752. In Jan. 1907 $1,694,400 was being Issued In exchange for Cum
berland Valley stock and $4,485,200. dollar for dollar, for the m inority
Phlla. & Erie stock. V . 84, p. 103, 159, 221. 391. In July 1907 the coti pany offered to give 3 shares o f stock and $50 for each share o f Bald
Eagle Valley m inority stock ($765,200) provided a satisfactory am ount Is
turned in by Sept. 14 1907. V. 85, p 98.
Stockholders on March 12 1907 authorized increase o f the stock arwd
bonds b y $100,000,000 each, to be issued from tim e to tim e as required,
111
RAILWAY STOCKS AND BONDS
$1,000,000
7.000.000
2.143.000
271.000
630.000
298.000
541.500
180.000
312,256,050
19,997,820
3.498.000
1.500.000
2.714.000
4.850.000
7.701.000
9 900,000
60,000,000
19.993.500
99.617.500
8.680.000
11,143,000
a l ,000,000
1,349,500
500.000
75,000
4.000.000
212.000
862,000
6.000.000
2.657.000
1.800.000
800,000
2,100,000
800,000
1,600,000
2,000,000
3.500.000
1.800.000
00 bonds he
Bonds— P rin ci
pal, When D ue
Where Payable, and bv j Stocks— Last
Whom.
Dividend.
IN T E R E S T OR D IV ID E N D S .
Rate
%
,
When
Payable.
J
& J Am er Tr & Sav B k, Chlc|Jan 1 1934
5g
24 State S t, New Y ork Feb 1 1905 5 %
See text.
do
do
Oct 1 1917
4 ^ g A” & ' o
N ov 1 1910
M & N
do
do
6g
July 1907 4 %
8
!J
& J Paterson, N J
do
do
J
& J
July 1907 4 %
!f
& A Treas O ff, Concord N K [A ug 1907 3 %
[Jan 1 1927
5 g IJ & J Quakertown, Pa
See text. M & N 31 Office, Philadelphia
May31’07 3J^ %
6
I See x
Office, Phlla & L ondon
July 1 1910
iSept 1 1919
5 g i Q— M Office, Philadelphia
M & S
do
do
|Sept 1 1919
5 g
M & N Farmers L & Tr C o, N Y May 1 1943
4 g
& J L ondon , England
(July 1 1945
3M g J
4
J
& J Penn Co for Ins, &c, Phil July 1 1921
& D Provident L & T Co, Phil June 1 1913
4J4 g J
M & S15 _______ ________ _________ !Mch 15 1910
5
3 H S jM & N Amer E x B k, N Y ; & PhlliN ov 1 1912
& D A m E x B k, N Y . P hil.& cjO ct 1 1915
3 X S !j
J
& J Broad St Sta and L on d on .iu ly 1 1920
6g
4 g & 5 g A & O Broad St Station, Phila July 1 1920
5
M & N Broad St Station, Phila May 1 1928
6
M & N!
do
do
May 1 1938
do
do
July 1 1936
J
& J
4 g
5
M & S Broad St Station, Phlla Sept 1919
do
do
IJune 1 1928
& D
4 g 'J
M & N
do
do
May 1 1912
4^
7
F & A Broad St Station, Phlla Feb 1 1917
M & N New Y ork and Phila
N ov 1 1943
4 g
Sept 1 1914
M & S Girard Trust C o, Phlla
4 g
do
do
O ct 1907-1909
Q— J
3 Vi g
Q— F
do
do
N ov 1907-1909
3H e
Feb 1908-1910
3 H g Q— F Girard Trust Co, Phlla
g Q— M Commercial Trust C o, Ph D ec 1907-1910
do
do
June 1908-1911
3 ^ g Q— M
do
do
[Mar 1908-1912
3 H g Q— M
do
do
July 1908-1912
3X
Q— J
do
do
|Oct 1907-1912
3H
Q— J
Id alive 1 n sinking fund.
$60,000,000 colla t. trust 5 % gold notes dated Mch. 15 1907 form ing part
o f the $100,000,000 bonds. V . 84, p. 103, 626.
B O N D S.— Consolidated mortgage of 1873, see "S u pp lem en t” o f Oct. 1 90 1.
The 4 % loan o f 1881 is secured b y Phlla. W ilm .& B a lt. stock. Mtges. and
ground rents payable Dec. 31 1906, $3,074,161. V . 77, p .1875; V .7 8 , d .1 0 3 .
In 1902 were Issued $50,000,000 10-vear 3 5^ % gold bonds, dated N ov. 1
1902, o f which $30,006,500 were converted in July 1907 Into stock at $70
per share and balance are convertible at holder's option at $70 per share on
any Int. d a y, on 30 days’ notice; they m ay be called for paym ent at 102 H on
any Int. d a y, but if called converted on basis stated. See V . 74, p. 577.
In 1905 stockholders subscribed at par for part o f $100,000,000 of 3^S %
gold bonds, the balance being taken b y a syndicate. The bonds are (since
Dec. 1 1905) convertible at option of holder at any tim e into stock at $75
per $50 share unless previously called for redem ption on Dec. 1 1910, or at
any subsequent int. period on 90 days’ notice, at oar and int.; but when
so called they m ay be converted up to 30 days prior to the date nam ed In
said notice for redem ption. A part o f the proceeds was used to retire the
$27,480,000 6 % bonds m aturing June and July 1905; balance for Im
provem ents. See V . 80. p. 1112, 1236, 1913; V . 81, p. 1437.
G E N E R A L F IN A N C E S .— In 1901 obtained control o f the Pennsylvania
and Cambria Steel cos. See "Industrial co s .” and V .72, p .1280; V .8 2, p .805.
In 1907 the com pany was actively constructing a passenger electric tunnel
railroad from Jersey City under the N orth R iver to a central passenger sta
tion at 33d St. and 7th A v e ., New Y ork C ity, and thence under the East
R iver to a connection with the Long Island R R . in Long Island City,
under the nam e o f Pennsylvania Tunnel & Term inal H R .
The tunnel will a fiord entrance into New Y ork C ity for the Penn
sylvania R R . and Long Island R R . and permit the sending o f through
trains b y rail direct from the South ana West tb ail points in New England
via the bridge from M ott Haven to Long Island, which Is to be built b y the
New Y ork Connecting R R .; see V . 71, p. 913; V . 72, p. 1280; V . 73, p.
1264' V . 74. p. 380, 478, 831, 884. 1308; V . 75. p. 1203 1302 1355: V
82, p. 1269; V . 83, p. 626, 891; V . 84, p. 340, 1552.
The $60,000,000 3-year 5 % notes, dated M ch. 15 1907, will provide for
the paym ent o f the $50,000,000 Penn. Co. notes m aturing N ov. 1 1907
and construction, & c., requirem ents in 1907. They are secured b y d e
posit o f $45,000,000 Penn. R R . 4 % equipm ent certfs., $10,000,000 watersupply 4 % trust certfs. and $8,800,000 Penn. Co. stock. V . 84, p. 451, 571.
In June 1906 the Issue o f $50,000,000 (250,000,000 francs) French loan
(Penn. Co. guar. 3 K % bonds) was sold to p a y part o f cost ($42,000,000) o f
equipm ent and com pletion o f the water-supply system.
On Dec. 31 1906 the Pennsylvania Company held (V . 84, p. 928) the
subjoined amounts o f the following issues (com pare table a b o v e ), re
ceived in whole or in part in connection with aforesaid French issue.
Penn .S teelR oll.Stk.T r.4% $2,700,000 |Penn. Gen. Frt. E q. Tr.
Penn. Steel Freight Car Tr.
| 4 % ’07, $100,000,000_$22,218,000
4 % g o l d _______________ 9,300,000 |Penn. R R . W ater Supply
Penn.St’1 E q .Im p .T r.4 % .1 0 ,0 00 ,0 0 0 | Tr. 4 % ...........................1 0 ,0 0 0 ,0 0 0
As to $100,000,000 equipm ent trust here show n, see V . 84, p. 231, 340.
Statement o f President Cassatt In June 1906 was in V . 82, p. 439, 569.
In Sept. 1906 a bou t half o f the com p a n y’s holdings In Balt. & Ohio (see
that co.) and Norf. & W est, s to ck were sold, realizing about $50,000,000;
also In Dec. 1906 $15,630,000 Ches. & Ohio stock. V . 83, p. 562, 1412.
In N ov. 1906 the dividend rate was Increased from 6% to 7 % . Increase
In wages, Dec. 1906, V . 83, p. 1171.
Increase in stock and bonds authorized Mch. 1907, see “ S tock ” above.
New bond issues o f affiliated com panies in 1903-06 include in part:
Phlla. Balt. & W ash. 4 s .$10,000.0001Penn.Co.French fr .lo a n ..$50,000,000
Long Island R R . 4s, guar 22,408,000 Pitts. V a. & Chari.4s,gu_ 6,000,000
Penn. Co. 4 14 % gu. notes 50,000,000 Pitts. CIn. Chi. & St. L . 10,000,000
P enn .C o.3,H % g u .tr.ctfs 15,000,000 Vandalla R R ___________ 10,000,000
Penn. Co. 4 % bon d s____ 20,000,000 W ashington Term inal Co 10,000,000
In June 1903 allied Interests purchased $6,924,200 o f the $11,000,000
H ocking V alley R y . com m on stock; see that co . V . 77, p. 1225.
L A T E S T E A R N IN G S .— Jan. 1 to May 25 (3 m on th s), directly operated.
I.ines eist o f Pittsburgh} 1907.............. Gross, $65,106,162; net, $15,569,642
and Erie.
J 1 9 0 6 ........... Gross, 57,466,062; net, 15,566,342
I Ines west o f P . and F ., inc. or dec. . .i;ross,tnc3,947,200, net, inc. 580,000
A N N U A L R E P O R T .— Fiscal year ends D ec. 31. A nnual m eeting Is
held at Philadelphia on second Tuesday in March. The report for 1906 was
given at length in V . 84, p. 566, 574; see also editorial, p. 539.
E A R N IN G S ON A L L L IN E S B O T H E A ST & W E S T OF P IT T S . & E R I E .
Year ending Dec. 31—
1906.
1905.
1904.
Gross earnings........................... ........ $295,898,165 $266,069,597 $237,216,420
Net earnings......................................
84,354,399
73,969,249
65,702.960
R E P O R T OF P E N N S Y L V A N IA R A IL R O A D C O M P A N Y .
Year ending Dec. 31—
1906.
1905.
1904.
3,820
3,764
Miles op erated................ ...................
3,748
Gross earnings____________________ $148,239,882 $133,921,993 $117,198,414
Net e a rn in g s _____________________ $46,434,238 $40,531,582 $35,395,526
11,741,184
10,018,026
In t. on Pa. R R . Investm ents_____
9,864,534
346,109
267,963
In t. on U nited N J. securities____
261,498
395,041
Int. for use o f equipm en t_________
371,913
434,858
62,629
1,067,604
General Int. and m iscellaneous___
853,374
239,299
311,411
946,756
Gross Incom e............................... - $59,218,500
D educt— R e n t a ls ________________ $12,552,213
7,387,652
Interest on funded d e b t ______
Interest on bond allotm en t____
11,805
Int. on mtgs. and ground ren ts.
4,979,147
Car trust paym ents____________
68,400
E qu lpm ’t trust loan sink. fu n d .
2,791,022
State taxes and m iscella n eou s..
$52,568 499
$12,346,754
5,489,947
1,237,277
59,5 71
4,085,224
136,400
2,360,048
$47,756,546
$11,202,965
5,274,448
_____ 214,208
4,210,571
136,400
1,976,334
$27,790,239
$25,715,221
$23,014,916
T o ta l___________________________
112
RAILWAY STOCKS AND BONDS.
|V o l .
lxxxv.
J u l y , 1907.]
RAILWAY STOCKS AND BONDS.
113
114
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
Pennsvlvania RR— (Concluded)
Penn steel equip trust gold $500,000 paid yea rly____
do
do
$500,000 paid yea rly______
do
roll stk tr gold $500,000 paid y e a r l y .,
do
do
gold $200,000 paid yearly
do
do
gold $300,000 paid yea rly___
Pennsylvania equipment trust__________________
Pennsylvania steel freight car trust______________
do
do
do
do
__________________
Penna Steel equlpt im provem ent trust___________
Pennsylvania general freight equipm ent trust____
Delaware A venue Market first m ortgage__________ r
Delaware A venue B loodgood p rop erty___________ r
Penn R R real estate purch m oney gold M ___F.c*& r
Pennsylvania Company— Bonds gold gu aran teed.c* &r
Guar tr certs $20,000,000 gold guar Pa R R Ser A ._ r
do
do
do
Series B _____ QP.c*
do
do
do
Series C _________ c*
do
do
do
Series D ________QP
Gold loan $1 334,000 drawn yearly g gu Pa R R .Q P
Gold loan red after 15 years (guar V 83, p 1229) QP.c
Gold notes $50 000,000 guar p & i ______ _______ FP
French loan 250,000,000 fr gu red from 1918____ QP
Pennsylvania & North Western— See Cambria & Clear field R
Peoria & Bureau Val— Stock rental. See t e x t____
47
Peoria & Eastern— Ind B loom & W 1st M pref.C e.c& r
202
342
Ohio Indiana & W est 1st M pref gold int gu ar.C e.c*
Peoria & East cons M $10,000,000 Int g u a r ..C e .c *
342
Second consol m ortgage incom e non -cum _____ Ce.c
342
Peoria & Pekin Union— First m ortgage g o ld ____ Ce.c
20
Second m ortgage g o ld ----------------------------------------Ce.c
20
Pere Marquette— Comm on stock $16 0 00 ,00 0 ________
Preferred 4 % $12,000,000 ............ ...................................
[ •Receivers’ certificates extended (see text) red p a r___
do
(see text) p ay $200,000 s-a bee Feb 07
f.
do
certificates____________________________
R efund M $60 ,000,000 g gu d & 1 (en d )___Ce.c*&r
1902
1903
1903
1903
1905
1900
1905
1906
1906
1906
1889
1892
1893
1881
1897
1901
1902
1904
1901
1906
1906
1906
1879
1888
1890
1890
1881
1885
1906
1906
1907
1905
Size, or \
P ar
\ Amount j
Value. Outstanding]
$1,000 $3,000 ,000!
1,000
3.000 000
l,000i 3.000 ,000!
1,000
1,200 ,ooo;
1,000' 2,400 oool
l,000i
800 ,000
1,000; 4,500 .000
1,000
3.000 ,000
1,000
9.000 ,000!
24.000 ,0001
5,000;
300 ,0001
1,000
200 ,000!
1,000
2.000 ,000
1,000 19,467 ,000,
1,000
4,763 ,000;
9,474 .000)
1,000
l,000i 4,837 000
1,000: 10.000 ,000
1,000! 13,330 ,000
1 000 20,000 ,000j
5,000i 50.000,,000!
500 fr& c 48,262,,5481
lxxxv.
IN T E R E S T OR D IV ID E N D S .
When
Payable.
3)4
334
334
3H
4g
3 )4
4
4
4
4
4.3
4.4
4 g
4)4
3)4
3)4
314
3)4
3)4
4 g
4H
3 54
g
g
g
g
g
g
g
g
g
g
g
100
1.500,,ooo|
8
100 &c
985,,ioo;
4
500 &c|
500,,000
5 g
1,000
8.500,,000!
4
1.000
4,000,,000
4
1,000
1,495,,0001
6 g
1,000
1,499,,ooo:
4)4 g
100 16.000,,000 See text,
100 12,000,
See text.
419,
6
800
5)4
1,000
400,
5
1.000
9.207,
4 g
1906.
1905.
1904.
B a la n c e .............. .................................$31,428,261 $26,853,278 $24,741,630
Paym ents to trust fun ds__________
$225,956
$182,969
$181,142
Consol, m ortgage sink, fund, & c._
131,170
131,450
401,530
E xtraordinary expenses__________
8,701,475
8,424,881
6,225,923
D iv id e n d s _____ ________ ______(6)4)19.869,661 (6)18,113,978 (6)17,933,035
Extraordinary expense fu n d _____
2,500,000
_________
_________
[V o l .
Bonds— P rin ci
pal, When D u e.
Where Payable, and by I Stocks— Last
Whom.
Dividend.
Q— M Comm ercial Tr Co, Phlla Dec 1907-1912
Q— M
do
do
Mar 1908-1913
Q— F
do
do
May 1908-1913
Q— F
do
do
Aug 1908-1913
Q— M
do
do
'day 1908-1915
Q— M
do
do
D ec 1907-1910
Q— S |Fidelity Trust C o, Phila Sept 1907-1915
Q— J
do
do
June 1908-1916
Jan 1908-1916
Q— J
do
do
y—F
1907-1916
do
do
Mar 1 1909
M & S Philadelphia
M & S
do
Sept 1 1912
M & N ^Farmers’ L & T r C o, N Y May 1 1923
J & J National City Bank, N Y July 1 1921
M & S Union T r. N Y ; & Phlla Sept 1 1937
F & A iAmer E xch B ank, N Y Feb 1 1941
J
& DJ
do
do
Dec 1 1942
J & D Phlla, Pa, and N Y
Dec 1 1944
M & N New York & Philadelphia N ov 1 1916
A & O Glr Tr Co, Phila and N Y April 1 1931
M & N Nat B k o fC o m .N Y ; &Phl! N ov 1 1907
J
& D Cred. I.yon, & c., Paris,Fr June 15 1921
F
A
& A
& O
Q— J
A & O
April
Q— F
M & N
See text.
J
& J
Chic R I & P ac R y . N Y jA u g 10 1907 4 %
J P Morgan & Co, N Y
April 1 1940
do
do
April 1 1938
do
do
!April 1 1940
4 % paid April 1 1907
April 1 1990
Central Trust C o, N Y Feb 1 1921
do
do
jFeb 1 1921
R W inthrop, N Y ; & Bostj July 1 ’05 2)4 %
do
do
jJuly 1 ’ 05 2 %
.................. ............................ iJuly 1908
Q— F
__________________________T o Aug 1909
............................... ...............Mar 1 1908
J
& J J P Morgan & Co. N Y Jan 1 1955
over charges. Com pany owns $125,000 stock o f the Peo. & Pekin Union
R y ., on which 6 % yearly was p a id 1895-1902 and 5 % in 1905. V . 74, p . 152.
B O N D S.— See abstracts o f m tges. o f 1890 In V . 51, p. 246, and o f O.
Ind. & W est, p itge., V . 47, p. 201.
IN CO M ES.— Dividend on incomes 4 % yearly, paid April 1 1902 to 1907,
b oth Inclusive, from earnings of preceding calendar year.
E A R N IN G S .—-For 5 m onths ending May 31 1907, gross, $1,175,640,
against $1,203,949 In 1906.
*31,428,261 $26,853,278 $24,741,630 Cal. year.
Gross.
Net.
Other inc.
*Charges.
Balance.
Ba!. profit and loss Dec. 31............$24,725,484 $24,725,484 $24,725,484
$859,885
$8,775
$695,859
$172,801
1906 .............$3,059,281
1905 ________ 2,960,727
805,862
2,675
689,222
119,315
O F F IC E R S .— Pres., James McCrea; 1st V .-P ., John P. Green; 2d V .-P .,
* Includes $160,000 (4 % ) Interest on Incom es.— (V . 80, p. 1363.
Cbaries E . Pugh; 3d V .-P ., Samuel Rea; 4th V .-P ., J. B. Thayer Jr.; 5th
V .-P .a n d T reas., Henry Tatnall; Sec. .Lewis Nellson. N .Y . office 85 Cedar St.
PEORIA & PEKIN TE RM IN A L R Y .— See “ Street R ailw ay” Section.
D irectors.— Alexander M. F o x , N. Parker Shortridge. R udulph Ellis,
PEORIA & PEKIN UNION R Y .— Owns Pekin to Peoria, on b oth sides
Charles E . Ingersoll, Clem ent A . Griscom . H enry C. Frick, W illiam o f Illinois R iver, and yards at and opposite Peoria. Mileage main track.
H. Barnes, Geo. W ood , C. Stuart Patterson, Effingham B. Morris, Thom as
18.14; second main track, 8.80; total main track, 26.94 miles. Mileage o f
D eW itt Cuyler, Jas McCrea, Lincoln G odfrey, John P . Green, Charles E . side and yard tracks, 67.38. Capital stock. $1,000,000. Owned b y Peoria
Pugh, Samuel R ea.— (V . 84, p. 868, 932, 1053, 1183, 1367.)
& East. (Clev. Cln. Chic. & St. L. system ), Chic. & N o rth w e s te rn , Chic.
PE N N SYLV A N IA COM PA N Y.— (See M aps Pennsylvania R R .) — Operates P eo. & St. L ., 111. Central system , Lake Erie & W estern and T ol. P eo. &
all the Pennsylvania Railroad lines west o f Pittsburgh. Owns no road in fee. W est, com panies. Dividends 1895-1902, 6 % per annum: 1903, 4 %; 1905
5 % . Earnings for cal. year 1905, gross, $913,818; net, $284,908; charges.
Controlled by stock & c.:
M iles.
Leased by transfer from P a . R R .:
$176,530; dividends (5 % ), $70,000; bal., sur., $58,378.— (V . 83, p. 752.)
M iles. Pitts. Cin. Chic. & S t. L ___*1,371.98
P lttsb. F t. W . & Chicago___*469.89 Cin. & Muskingum V a lle y ..*148.45
PERE M ARQUETTE R R .— The road Includes:
Lines owned—
M iles
Massillon & Cleveland______
12.23 W aynesburg & W ashington.
28.15
M iles
Erie & P it t s b u r g h ............... *83.27 Cln. L eb. & Nor
45.75 Alexis (near T oledo) to LudlngOther lines, branches, & c______ 266
ton on Lake M ichigan_______ 365 Porter to Clark J e t., In d ______
Cleveland & P itts b u r g h ___*2 00 .91 1Grand Rapids & I n d ia n a ...
423.15
21
Leased directly by P a . C o.:
M usk., Gr. R ap . & In d ___
36.85 La Crosse, I n d ., to B ay V iew ,
T ra ck a g e_____________________ 111
M ich_______ __________________ 434 S t. T hom as, O nt., to Interna.
Traverse City R R ________
Pitts. Youngs. & A shta R y . *138.91
26.00
T oled o W al. V al. & O h i o . .. *236.04 „ Cin. R ich. & F ort W a y n e . *85.83 Detroit to Grand Rapids, M ich . 167
Bridge and Niagara, N . Y ___136
Saginaw and Port H uron______ 121
Controlled by stock or otherwise:
Vandalla R R _______________ *656.32
Other trackage_________________ 116
Cleveland & M arietta______ *103.13 Terre Haute & Peoria R R . . 145.12 P t.H uron to Grindstone C ity___125
Leased (G . R . K al. & S . E .)—
Grand Ledge to Big R apids____ 147
R apid C ity to S tratford_______
40
Pitts. Ohio V al. & Cln_____
15.27 Cleve. A kron & C olu m b u s.. 193.76
Allegan to P entw ater__________ 130 London & P ort Stanley_________ 24
9.65
Marginal R R ., B eav. F .,P a .
3.51 W heeling Term inal R y _____
South Chic. & Southern-----21.98 Louisville B ridge___________
2.44
W alkervllle to St. Thom as_____ 127
72
Sarnia to R ond eau_____________
Branches W .N .Y . & P a .R y .
51.76
Controlled Jointy:
T o ta l________________________ 2,403 .
Youngstow n & R avenna ___
2.31 Central Indana____________ *117.58
T he Pere Marquette operates car ferries Ludington to Milwaukee and
Pitts. Chartlers & Y ou gh ___ *19.69
M anitow oc; Marq. & Bes. D ock & N avigation; also on Lake Erie, Rondeau
T ol. Peoria & W estern_____ *230.70
to Conneaut. V . 76, p. 3 S 3 ;.V . 78, p. 103.
From South Haven to Law ton, M ich., 37 miles. Is leased to Kal. Lake
T otal Penn. Co. lines_____ 1,339.21 Trackage____________________ 167.92
Shore & Chic. R y. for 25 years from April 15 1907. V . 84, p. 868.
•See this com pany.
T otal o f all lines__________ 5,048.55
R E C E IV E R S H IP .— On D ec. 4 1905 Judson Harm on o f Cincinnati was
O R G A N IZ A T IO N .— Chartered In Penn. April 7 1870. Its $60,000,000 appointed receiver o f the Pere Marquette and Cln. H am. & D ayton . V . 81.
stock Is ow ned by the Pennsylvania Railroad. On D ec. 31 ’ 06 the Penn. C o . p. 1666. The receiver obtained authority to issue *839,360 receiver’s cer
ow ned sundry stocks and bonds having value per balance sheet o f $222,- tificates to pay the 1906 coupons falling due. V . 81, p. 1849; V . 82, p. 162;
V . 83, p. 38, 969, 1525. The 1907 coupons were paid from earnings.
321,321, and yielding In 1906 an incom e o f $7,634,271. See list V . 84, p. 928.
In 1907 the Chicago Indiana & Eastern, Converse, In d ., to Muncie, 43 V . 84, p. 101.
On May 4 1906 authority was given to Issue $1,200,000 receiver's cer
m iles, was acquired. V . 84, p. 1183.
« •
tificates to pay taxes for 1902 to 1905. to be a first lien on property in Michi
D IV ’S .— 1 *92. ’ 93. ’94. ’95 t o ’00. ’01. ’02. ’03. ’04. ’05. ’06. 1907. gan. V . 82, p. 1041, 1102, 1157: V . 83, p. 969, 1032.
Per cen t___j 4
4
4
N one
3
3
4
5
5
6 June, 3
In Mch. 1907 a settlement was made under which the $3,500,000 collateral
B O N D S .— The gold bonds of 1921 are secured b y leases of P . F ort W . & trust bonds secured b y the entire stock o f the Chicago Cincinnati & Louis
C ., the Cleve. & Plttsb. and Erie & P lttsb. railroads, and o f bonds and ville were canceled and the stock returned to the original holders. $400,000
P. M. receiver’s certs, being given to C. C. ft L. V . 84, p. 507. 693, 804.
stocks having a par value in 1881 o f $24,171,630, as well as real estate.
Stockholders’ Protective Committee.— In April 1906 over 71% of the
The guaranteed trust certificates, “ A ,” “ B " and “ C ,” were Issued by
Girard Trust C o., Philadelphia, as trustee, under a deed o f trust made by outstanding pref. and a large amount o f the com . stock had been deposited
the Penn. Co. and the Penn. R R . C o., whereby the Penn. Co. has pledged with a com m ittee, Nathaniel Thayer, Chairman: Francis R . H art, Sec. (Old
an equal am ount at par of the 7 % guar, special stock of the Plttsb. Ft. W . C olony Trust C o., Boston, and Manhattan Trust C o.. N . Y ., depositaries).
& Chic. R y . Co. The total authorized Issue o f the trust certificates is $20,- V . 81, p. 1666, 1849; V . 82, p. 49, 987; V . 84, p. 1368; V . 85, p. 161.
O R G A N IZ A T IO N .— A consolidation in 1899 o f Chic. & W est. Mich. R y .,
000,000, each series to be secured b y deposit o f shares o f the special guar
anteed stock to an amount equal to the par value o f the series, the sinking D et. Gr. R ap. & W est. R R . and Flint & Pere Marq. R R ., per plan in V . 68.
fund having retired $870,000 to A pr. 1907. See V . 65, p. 368, 572, 1116; p. 1024, 1181. A 99-year agreement for trackage with the Mich. Cent, and
Can. South, from St. Thom as, O n t., to International Bridge and Niagara,
V . 67, p. 122; V . 72, p. 339, 490.
The $10,000,000 guar. 3)4 % trust certificates, Series “ D ,” sold late In 136 miles, extends the line easterly to Buffalo, from July 18 1904. V . 77,
1904, are part of a $20,000,000 Issue to be issued In series and secured b y an p 2097: V . 78, p. 2600.
In 1904 the Cln. Ham. & Dayton acquired $12,834,450 o f the $16,000,000
equal am ount o f Plttsb. Ft. W . & Chicago guar, stock. V . 79, p. 2457.
The 3)4 % gold loan o f 1901 was Issued to p a y for acquisition o f stocks of com m on and $1,487,800 o f the $12,000,000 preferred stock.
R E O R G A N IZ A T IO N P L A N .— The plan announced July 1907 (V .8 5, p.
the Pennsylvania and Cambria Steel com panies. They are guar., p. and 1..
b y Penna. R R .,a n d are subject to call for redem ption N ov. 1 annually 41, 100) and approved b y b oth T hayer and Gale stockholders’ com m ittees,
provides that a new som pany shall be form ed with the same total authorized
b y lot at par in 15 equal drawings. V . 73, p. 843, 957. Collateral Sept.
stock as the present, v iz .: $16,000,000 com m on and $12,000,000 preferred,
1906 consisted o f $16,800,850 par value o f stock issues.
The $20,000,000 gold loan 4s of 1906, guaranteed, were in O ct. 1906 but the latter will consist o f tw o classes, v iz .: 4% first preferred stock,
secured b y deposit o f $14,000,000 Pitts. Cine. Chic. & St. L. com . stock, cum ulative after 3 U years, w ith preference also as to assets, and 4 % noncuniulative second preferred stock, w ithout preference as to assets. The
$4,000,000 Vandalla R R . stock, $3,660,100 W est J. & Sea Shore com .
new com p any will take over the prop erty, w ithout foreclosure, assuming
stock, $2,216,500 Cleveland & Pittsburgh betterm ent stock and $2,240,800
the existing bonded debt, and Issue $5,000,000 6% 5-year debentures to
o f other stocks of railroads o f system ; total par value o f collateral, $26,117,p ay the floating debt and equipment paym ents due in 1907, to which
400. V . 82, p. 335; V . 83, p. 1229.
On O ct. 1 1905 the $50 000,000 o f 4 )4 % collateral betterm ent notes were present preferred stockholders will have the right to subscribe at par to
the extent o f 5 0% o f their holdings. The holders o f com m on stock
paid. Car trusts Dec. 1906, $11,360,666.
The $50,000,000 guaranteed 4 )4 % gold notes o f 1906 are secured b y m ay also subscribe at par for new debentures to the am ount o f 20% o f
stocks o f sundry co s .o f par value o f $56,890,000. V . 82, p. 1157; V . 83,p .214 their holdings. H olders o f old preferred and com m on stock subscribing for
The 250,000,000 French franc 3 M % guaranteed loan o f 1906 is payable, the new debentures will receive 115 In new first preferred and 120 in new
com m on stock, respectively, in exchange for their holdings; those not
p. & I., in francs. Denomination 500 and 2.500 francs. V . 82, p. 1439.
R E P O R T .— R eport for year 1906 was In V . 84, p. 928, showing, on subscribing, par In new second preferred and com m on stock, respectively.
1,411 miles, $46,036,806; net, $10,188,877; other incom e, $9,247,081; A m ajority o f the preferred stock has approved the plan and subscribed for
Interest, rentals, & c., $10,502,070; loan certs, redeem ed, sink, fund, & c., the new debentures. V . 85. p. 161.
D IV ID E N D .— On p ref., 1901 to Feb. 1905, b oth Incl.. 4 % yearly (F .& A .)
$1,945,471; dividend (6 % ), $3,600,000; extraord. exp . fund. $2,500,000;
On co m ., 1903. 2 %: 1904, 1 %; 1905. A pril, 1 % .
b al., sur., $888,417.— (V. 83. p. 1412; V . 84, p. 928, 932, 1183.)
B O N D S .— T he refunding 4s o f 1905 ($60,000,000 authorized Issue; o u t
P E O R IA & BU REAU V A L L E Y R R .— Peoria to Bureau Jet, 111., 47
miles. Leased in 1854 to Chicago R ock Island & Pacific R R . for $125,000 standing $9,207,000, are guar., p. & 1., b y C. H . & D . V . 80, p. 163.
The collateral trust gold bonds o f 1902 (limited to $2,870,000) are secured
yearly; dividends, usually 8 % yearly, occasionally m ore.
b y the entire capital stock ($1,400,000) o f the L . E . & D et. R iv . R y .. the
PEORIA & EASTERN R Y .— (See M a p s N . Y. Cent. & Hudson River R R .)
National Trust C o., L td ., o f T oron to, being trustee, and are subject to call
— Owns from Pekin, 111., to Indianapolis, In d ., 202 m ., and has a lien o f $5,- on any Interest day on 60 days’ notice. V . 75. p. 1302: V . 76, p. 213.
000,000 on Springfield D ivision, Indianapolis to Springfield, Ohio, 141 m .;
Lake Erie & Detroit River Division m tge, V . 76. p. 1356: V . 77. p. 89.
trackage. Pekin to Peoria. 9 m .; total operated, 352 miles.
Pere Marq. R R . o f Ind. 4s o f 1903 (auth. $3,000,000). V . 76, p. 919, 1193.
L E A S E , & c.— Form erly Ohio Indiana & W estern, sold In foreclosure In
Marq. & Bes. D ock & N av. 1st M. bonds are guaranteed Jointly, b y P. M
1890, reorganized per V . 49, p. 616. Leased till April 1 1940 to Clev. Cln. and Bess. & Lake Erie. T hey are subject to call In whole or part at 105. and
Chic. & St. L .. which guarantees interest, but not principal, o f the 1st con 1 % must be called yearly for the s. f. at the same price, if not purchasable
sols and the underlying bonds, and owns one-half the $10,000,000 stock, at a lower figure. V . 76, p. 480, 594, 706, 922, 1034. Form o f guaranty,
par, $100. See " S u p p .” pf J$n. 1894 as to proylslqps respecting any surplus p . 1358. Debenture-58 of 1905, V . 82, p . 161.
J u l y , 1907.
RAILWAY STOCKS AND BONDS
R A IL R O A D S .
Date
of
Bonds.
F or explanation of column headings, & c., see notes
on first page of tables.
Per® Marquette— (Concluded) Underlying Bonds—
Chic & W est Mich gen M ($12,000 per m ile)__NB c*i
48C
D Gr R & W 1st cons (now 1st) M law m on ey.O B .c’ i
38C
Flint & Pere Marq M ($1,000,000 are 4s) g o ld ____ cl
28C
Consolidated m ortgage g o ld _____ ____________Ce.c*
40C
Pt Huron D lv first m ortgage ($3,500,000) g .C e c*
235
T oledo Division first m ortgage g o ld ______ IB.c*
18
Ch <St N M 1st M gu p & 1 end b y Ch & W M ._O B .c*i
88
33
Grand R ap Kal & S B first M sinking fun d ______ IB
W estern Equipm ent Co call at p a r________________
___
E quip bonds g $76,000 due semi-ann. ( V 79, p 1642) I
___
Marquette equip first M guar s f call at par______
___
East equip 1st M g gu p & 1 call par (text)..S S t.c*|
___
Pere Marquette consol M $50,000,000______ F c& r
___
L E & Det R iv D iv col M g o l d ____________ Mo
202
Collat trust m ortgage gold call p a r _______________
___
Saginaw Tus & Huron 1st M p & i guaranteed. _ N
66
Grand R ap Beldlng & Sag 1st M gold interest rental
28
Pere Marquette o l Ind guar p & 1 call at 105._ K c* T ext.
Ser “ B ” equip, bonds. Morley & P otter, trustees___| ___
Marq & B D & N guar p & 1 call 105 sinking fu n d .-c *
___
do
do
debenture guaranteed p & 1_c * '
___
Oblig for fgt cars due *25,718 m thly (V 82, p 752) I
Perkiomen— 1st M Ser 1 (1st loan) g guar p & 1. PeP.c*:
38.3
First M Ser 2 (2d loan) g guar p & 1 (en d )___PeP.c*
38.3
Peterborough RR— Stock (rental 4 % )________________ j
___
Petersburg R R — See A tlantic Coast Line R R .
Phila & Balt Cent— 1st M $2,500,000 ($1,200,000 4 ^ s )
74
Phila Baltimore & W ash— Stock auth $25,350,450. J
___
P W & B (old Co) plain b o n d s ..1
f..r !
___
Plain bonds_______ _________
A ll secured
_ .r
___
Plain bonds_________________
b y 1903
..r
___
Plain bonds g o l d ___________
m ortgage.
_ .r
___
Plain bonds g o l d ....... .............
t__r
___
Balt & P otom ac 1st M (tun) g s f not draw n____ xc*
l}i
First M road guar gold sink fd not draw n____ xc*
92
1st m ortgage $20,000,000 g o l d .....................M o .c'& r
214
Phila & Ches V— 1st M p re fo ld 5s red ’96 g o ld . PeP.c*
___
First M old 4s not p ref lnt reduced In *96 gold P eP .c*1 ___
Size, or
Par
Amount
Value. Outstanding
Where Payable, and by
Whom.
1881
____
1880
1887
1887
1891
1892
1871
1871
1904
1888
1888
1,000
50
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 &c
500
500
$3,497,076
161,353
$2,751,643
441,036
$3,713,889
85,033
*3,658,429
.1 $2,555,609/
-)
1
766,850
•1,196,918
$3,192,679
$2,178,955)
59,698)
561.794J
414,663
$3,798,922
$2,102,814
405,558
Balance, surolus............................. def $860,947 d e f.$22.4 31sur.$l,290.550
•Incl. taxes for years 1902 to ’05.— (V .84, p .1488; V 85, p. 41, 100, 161.)
— (V . 84 D. 1488; V. 85 D. 41 100. 161.)
PERKIOM EN R R .— Owns from Perkiomen Jet., P a ., to maus J et.. P a .,
S tock ($1,500,000, par value o f shares, $50) owned b v the R ead
ing Co. and m ostly deposited under Its Jersey Cent, collat. 4 % m tge. o f 1901.
V . 72, p. 283. Reorganized In 1887. In year 1905-06, gross, $568,580;
net, $346,021; Interest and taxes, $116,336; dividends (7 % ) , $105,000;
balance, surplus, $124,685.— (V. 72, p. 283.)
PETERBOROUGH R R .— W ilton to Greenfield, N . H ., 10M miles.
Leased April 1 1893 to Boston & Lowell for 93 years at 4 % on stock and e x
penses. Capital stock, $385,000; par, $100; d lv ., A . & O.
P H IL A D E L P H IA & BALTIM ORE CEN TRAL R R .— W est Phila. to
O ctoraro J et., M d ., 63 m .; W aw a to W est Chester, P a., 9 m. (double track,
11 m .); branch, 2 m .; leased. Chester C reek ,R R ., 7 m .; Phila. Balt. & W ash,
bolds $2,497,150 o f the $2,499,184 stock. For 1906 gross earnings $1,228,449; net, Inc. other in c., $138,018; charges. $178,039; b a l., d ef., $40,021.
P H IL A D E L P H IA B A LT. & W ASHINGTON R R .— (See M a p Penn. R R .).
Lines owned—
M iles.
Lines controlled, leased, &.C.Phila. to W ashington, D. C ., via
Phila. & Balt. Central*__________ 80
Balt, (all double t r a c k ) ________136 Delaware R R .* __________________ 248
Bowie to Pope's Creek, M d______ 49
Delaware M d. & V a .* ____________ 97
Branches to Delaware C ity, & c._ 3 3 1Other lines (5 )____________________ 59
38.3 m.
Total (’ see this com p a n y )_____ ____________________________ ________ 702
O R G A N IZ A T IO N .— A consolidation N ov . 1 1902 o f the Philadelphia
W ilm ington & Baltim ore R R . and Baltimore & P otom ac R R . V . 75, p.
395, 1032; V . 82, p . 510. See W ashington Term inal Co. on another page.
S T O C K .— S tock authorized, $25,350,450; outstanding Jan. 1 1907 $23,4 9 3 ,5 5 0 , o f which $23,490,775 owned b y Penn. R R .
Dividends since con sol., Dec. .31 ’02 to July ’07, 4 % yearly (J. & D .).
B O N D S .— The first m ortgage o f 1903 ($20,000,000 authorized) is a first
i.en on the Philadelphia-Baltim ore division, 117 miles, all double-tracked,
and also secures pari vassu the $4,930,000 debentures o f the form er P. W . &
B .(see p .4 o f ‘ ‘ S up p .’ o f A p r.1895), and is a second lien on the line from Bal
tim ore to W ashington. O f the bonds, $10,570,000 were sold, the proceeds
to be used chiefly In connection with the new terminals and approaches in
W ashington, the balance being reserved to retire the debentures and Balti
m ore & P otom ac bonds. V . 78, p. 49. M tges., & c., 1906, $200,973.
The stockholders are to vote July 31 1907 on “ Increasing the indebted
ness.’ ’ V . 84, p. 1368.
E A R N IN G S .— 5 m o s .,1 1907................ Gross, $6,697,094; net, $1,060,225
Jan. 1 to May 31.
/1 9 0 6 ......... ...G r o s s , 6,148,994; net, 1,366,925
R E P O R T .— R eport for year ending Dec. 31 1906 in V . 84, p. 992. Year
ending March 31 1907, gross, $16,167,687; net, $3,295,399; other Income,
$793,128; first charges, $1,545,862; dividends (4 % ), $939,742; extra
ordinary expenses, $1,562,389; balance, surplus, $40,534.
Year ending Dec. 31—
1906.
1905.
1904.
1903.
Gross ea rn in g s................ $15,941,241 $14,676,204 $13,525,757 $13,585,849
Operating ex p en ses------ $11,599,989 $10,802,932 $9,889,971 $9,819,089
Rentals on basis net earn
832,987
751,526
874,068
822,256
N et.................................. $3,508,265
Int. on Investment, &c_
776,556
*3,121,746
804,940
$2,661,718
683,932
$2,944,504
745,478
Total net Incom e____$4,284,821
Fixed rentals___________
$49,785
Interest on bon d s______
900,000
Ground rents, & c_______
12,747
Other Interest__________
157,308
Taxes _________________
373,702
M iscellaneous__________
8,728
Dividends, 4 % _________
939 ,742
E xtraord. expenditures. 1,842,810
$3,926,686
$49,948
900.000
12,747
$3,345 ,650
$49 ,912
876 ,909
12 ,769
$3 689,982
$49,785
618,450
12,155
285',659
24,567
939,742
1,714,023
262 ,411
23 ,569
939 ,566
1,180 ,513
237,775
111,095
819,555
,841,166
T o t a l...............................$4,284,821 $3,926,686 $3,345,650 $3,689,981
— (V . 82, p. 9 8 4 ; V . 84, p. 749, 99 2 , 1368, 1428, 1189.)
P H I L A D E L P H I A & C H E S T E R V A L L E Y R R — R oad from Bridgeport
to D ow nlngton, P a . , 23.9 miles. Chartered In 1888. Capital stock (par, $50)
in com m on . $550,000: preferred, $205,100; total, $755,100, o f which R ead
in g Com pany owns $454,450 com m on and $205,100 pref., $450,000 com m on
and $205,100 pref. being deposited under Its gen. m tge. of 1897. Reading
Co. guarantees bonds, with int. reduced. See V . 63, p. 1064.
•PH ILAD ELPH IA & ERIE R R .— (See M a p Penn. R R .)— Merged In the
Pennsylvania R R . May 1 1907, the m inority stock being offered Pennsyl
vania R R stock share for share, or $68 per share in cash
V . 84, p. 1183.
When
Payable.
$1,000 $5,758,000
5
J
& D J P Morgan & C o, N Y
500 &c
4
A & O Second Nat Bank, Bost
5,379,000
1,000
5,000,000 4 g & 6 g A & O J P Morgan & C o, N Y
1,000
2,850,000
M & N Central Trust Co, N Y
5 g
1,000
3,325,000
A & O J P Morgan & Co, N Y
5 g
1,000
400,000
& J Internat Tr C o, Boston
J
5 g
1,000
1,667,000
5
M & N Second N at B ank, Bost
1,000
A & O Internat Trust C o, Bost
200,000
5 g
1,000
40,000
A & O 50 State Street. Boston
6
1,0001 1,140,000
4 ^ g A & o New Y ork or St Louis
1,000
A & o 50 State Street, Boston
490,000
5
1,000
2,776,000
M & s R W in & C o. N Y & S t L
5 g
1,000 &c
8,382,000
J
& J J P Morgan & Co, N Y
4 g
1,000
3,000,000
F & A
do
do
4«
____
2,870,000
J & J St Louis U n T r Co, St L
4 g
1,000
1,000,000
F & A J P Morgan & C o, N Y
4 g
1,000
260,000
M & S International Tr Co, Bost
5 g
1,000
675,000
M & N Knickerbocker Tr C o,N Y
4 g
1,000
5
A & O Sec Nat B k, SaginawMlch
180,000
1,000
396,000
A & o New Y ork
4H
,1,000
100,000
5
J
& J
do
2,160,317
5
‘ To'o' "&c
799,600
Reading Term B ldg, Phil
5 g
Q— J
1,000
1,125,000
do
do
5 g
Q— J
100
385,000
4
A & 0 Nashua, N H
f
D educt— Interest on b o n d s ..
Interest on bills p ayable, e t c .
R entals______________________
IN T E R E S T OR D IV ID E N D S .
Rate
%
1881
1897
1880
1889
1889
1897
1891
1897
1899
1904
1900
1903
1901
1903
1903
1900
1899
1903
1898
1903
1905
1906
1888
1888
------
The Eastern equipm ent 5s o f 1903 are In tw o series— A for $1,500,000 and
B for $2,000,000; the entire Issue m ay be called on 6 m onths’ notice and $75,000 o f the As and $100,000 o f the Bs are redeemable March 1 yearly. V .7 6,
p . 866. Form o f guaranty, V . 77, p. 90.
In March 1906 2,000 b o x cars were ordered, to cost $2,160,317 m onthly
>ayments to be made on account extending over 7 years from delivery, with
nterest at 5 % . V . 82, p. 752. There are also $30,000 B equip, bonds due
O ct. 1 1908, and $80,000 Lake Erie & Detroit River equipm ent 5s o f 1904.
R E P O R T .— For year ending June 30 1907 (partly estim ated), gross,
$14,000,000. V . 85, p , 41. R eport for 1905-06 was in V . 83, p. 1032.
yea r ending June 30—
1905-06.
1904-05.
1903-04.
.$13,430,170 $12,667,420 $11,430,692
9,933,094
9,915,777
7,716,803
Other Incom e.
115
2,200,000 4 ^ & 5
23,493,550 4 In 1906
1,000,000
5
4
1,000,000
1,000,000
4
930,000
4 g
1,000,000
4 g
1,500,000
6 g
3,000,000
6 g
10,570,000
4 g
280,510
4 g
100,000
3 g
M
J
J
A
M
J
A
J
A
M
A
A
Bonds— P rin ci
pal, When D u e.
Stocks— Last
Dividend.
D ec 1 1921
April 1 1946
O ct 1 1920
M ay 1 1939
April 1 1939
July 1 1937
May 1 1931
O ct 1 1907
April 1 1909
Apr ’ 08 -O ct 14
Oct 1 1910
Mar 1 1908 r
Jan 1 1951
A ug 1 1932
Jan 1 1923
A ug 1 1931
Mar 1 1924 r
M ay 1 1943
T o O ct 1 1908
April 1 1933
J an 1 1935
T o N ov 15 1913
Jan 1 1918
Jan 1 1918
A pr
1907 2 %
& N Penn R R C o, Phila
N ov
& D Broad St Station Phila J u ly
& D Off, Phil; K id d , Peab.B os June
& O
do
do
April
& N Broad St Station, Phila N ov
& J
do
do
Jan
& O
do
do
Oct
& J fN at Mech B ank, B altol July
& O
A pril
& L ondon
& N Am E x N B k. N Y : & P hlllN ov
& O Philadelphia
April
April
& o
do
1
1
1
1
1
1
1
1
1
1
1
1
1911
1907 2 %
1910
1917
1922
1926
1932
1911
1911
1943
1938
1938
P H IL A D E L P H IA & FR AN K F O R D R R — Owns from Crescentvllle to
Frankford, P a ., 2.6 miles. The $500,000 stock Is owned b y R eading C o.,
o f which $498,950 is deposited under its m ortgage of 1897; prin. and 4%
Int. is guaranteed b y Reading C o.— (V. 67, p . 1358, 1357.)
P H IL A D E L P H IA GERMANTOWN & NORRISTOW N R R .— P hila., P a .,
to Norristown and Germ antown, P a ., 20.96 miles; second track, 20.35 m .;
3d track, 3.02 m .; total track, 95 miles, leases P lym outh R R ., 9 m . Leased
On N o v .10 1870 to Phila. & R eading for 999 years; rental, $277,623, In
cluding $8,000 yearly for organization expenses.
P H IL A D E L P H IA H A R R ISB U R G & PITTSBU RGH R R — Harrisburg
P a ., to Shlppensburg, on the W estern M aryland R R ., 47 m .; 2d track,
14.54 m .; sidings and laterals, 16.97 miles. Leased O ct. 15 1890 for 999
years at 5 % on stock. Interest on bonds, taxes and expenses to the Phila. &
Reading R R ., which b y endorsement on each guaranteed the bonds, prin. &
Int. Lease assumed In 1896 b y Phila. & R ead. R y. S tock , $2,000,000 (par
$50), owned b y R eading C o., o f which $1,995,000, along with $1,472,000 of
the bonds also owned b y the R eading Co. are deposited under its general
m ortgage for 1897. Mortgage Is for $2,000,000.
P H IL A D E L P H IA NEWTOWN & NEW Y O R K R R — Philadelphia to
N ew tow n, P a ., 22 miles; sidings and laterals, 3.90 miles. S tock— com m on
$1,225,000; preferred, $400,000; par, $50. O f the bonds, $849,100 (with
coupons only partly paid— see V . 64, p. 331) are owned b y the Reading Co.
and deposited under Its general m ortgage of 1897. In O ct. 1898 interest on
$507,000 bonds was reduced to 3 % , from April 1 1897, and m ade a first
charge, that on remainder of Issue being left at 5 % subject to said agree
m ent. V . 68, p. 773. Current liabilities June 30 1906, $778,804. Year
ending June 30 1906, gross, $165,459; net, $64 482.
P H IL A D E L P H IA & REA D IN G R R — See “ R eading C om pany.”
P H IL A D E L P H IA & TRENTON R R — Phila. (K en sington ), P a ., to
Morrtevllle, P a ., 26 miles, m ostly four-tracked, and branch 3 m. On June 30
1871 leased, with the United Cos. o f N. J , for 999 years to Penn. R R . at
10% on $494,100 stock, the balance, $765,000, being owned b y United
R R s. o f N. J.
P H IL IP P IN E R A IL W A Y .— (See M a p ).— P R O P E R T Y .— Under a con
cession granted July 13 1906 b y the Philippine G overnm ent, In accordance
with an A ct in 1905 o f the United States Congress and with the approval
o f the Secretary o f W ar, this com pany has contracted to build about 300
miles o f railroad on the Islands o f N egros, Panay and Cebu in the Philippine
Archipelago. Definite location surveys have been com pleted as follows:
Panay, 105 miles; Negros, 71 miles; Cebu, 60 miles. Construction is in
progress on about 60 miles o f road, o f which 27 miles are practically co m
pleted and will soon be In operation. The remaining 33 miles will be In
operation b y about O ct. 1 1907.
O R G A N IZ A T IO N A N D S E C U R IT IE S .— The com pany was I
@FedFRASER