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RAILWAY AND INDUSTRIAL
S E C T IO N
OF THF,
C o m m e r c ia l & |7 M a n c ia l '^ h r o m c u l
C opyrighted in 1909 according to A ct o t Congress, b y W IL L IA M B . D A N A C O M P A N Y , in o ffice o f Librarian o f Congress, W ashington, D . C.
V o l.
89.
N
R ailw a y
and
E
W
I ndustrial
Y
O
R
K
,
S e c tio n .
The Railway and Industrial Section, Issued quarterly on the last Satur
day of January, April, July and October, Is furnished w ith o u t e x tra ch a rg e
l 0 JlvcrK annual subscriber of the Commercial and Financial Chronicle.
The Rad way Barninxs Section, Issued m onthly, containing the sworn
returns of earnings and expenses filed each month with the Inter-State
Commerce Commission, Is also furnished w ith o u t e x tr a ch a rg e to every
annual Chronicle subscriber.
The Llectric Railway Section, Issued three times a year. In February,
June and October, Is likewise furnished w ith o u t e x tr a ch a rg e to every
Chronicle subscriber.
The State and City Section, Issued scml-annually on the last Saturday
of May and Novem ber, Is also furnished w ith o u t e x tr a ch a rg e to every
subscriber of the Chronicle.
The Bank and Quotation Section, Issued m onthly, Is also furnished
w ith o u t e x tr a ch a rg e to every subscriber of the Chronicle.
The Bankers' Convention Section, Issued yearly, giving the detailed p ro
ceedings of the annual convention of the American Bankers’ Association
Is likewise furnished w ith o u t e x tra ch a rg e to Chronicle subscribers.
Terms for the Chronicle, Including the six Supplements above named,
arc Ten Dollars per annum within the United States, Thirteen Dollars
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CHICAGO OFFIC E — Pliny Bartlett, 513 Monadnock Block.
LON DON OFFICE— Edwards & Sm ith, 1 Drapers’ Gardens, E.C.
W ILLIA M B. DANA COM PANY, Publishers,
Front, Pine and Depeyster Streets,
New York.
Post Office B ox, 958.
THE NEW COAL ROADS.
No coal whatever is mined commercially in North
Carolina, South Carolina and Florida, while Georgia
produces some 325,000 tons per year; yet these four
States together consume not far from 12,000,000 tons
a year, and the annual increase in consumption is esti
mated at from 8 to 10%, with strong probabilities
that the increase would be faster if the facilities were
better. The rapid growth of manufactures in the
South has served to emphasize the long distances
which fuel has to come to get into the South Atlantic
region, and the present rapid growth and important
potentialities of the railways serving this district have
attracted much attention.
It may be said with fair accuracy that the bituminous
coal all lies behind the outer ranges of the Alleghany
and Blue Ridge mountains, which run almost due
southwest from Pennsylvania into Alabama. There
fore the coal which is brought out for the use of the
railways and manufacturing industries to the east
ward has to be hauled either to the summit of this
easternmost range or else around it, before it can be
distributed down a favorable grade.
The three most important bituminous producing
districts which send coal to the South are located,
respectively, in Alabama, near Birmingham; in eastern
Tennessee, in the territory served by the Chesapeake
& Ohio Ry., and in West Virginia. To get across
the mountains this coal all has to take a fairly round
about route, and approximately 500 miles of rail dis
J U
L Y
3 1 ,
1 9 0 9 .
N o.
2 3 0 1 .
tance intervenes between the bituminous regions and
such central coast points as Wilmington, N. C. The
most direct line at the present time is the grade of the
Southern Railway extending from Morristown, Tenn.,
to Asheville, N. C.; but this route is not well adapted
for heavy freight traffic. Moreover, it serves directly
only one of the three great systems occupyin g the
country betwee n the mountains and tidewater.
The Seaboard Air Line and the Atlantic Coast Line,
occupying respectively the center and the coast side of
this district, just as the Southern Railway occupies
the rear, have to haul their coal considerable dis
tances, especially the Seaboard Air Line, which until
recently has had no point from which the interior
portions of the line could be supplied commercially
with coal nearer at hand than Petersburg, Durham
and Atlanta. At present the Seaboard receives fuel
coal from six sources: For use on the northern lines,
from the Virginian Ry.; for use on the central lines,
from the Clinchfield road, via Bostic; for use in terri
tory south of Savannah, from the Southern R y.,
through Everett, Ga.; and for use on the southern and
western parts of the system, from the Louisville &
Nashville, Nashville Chattanooga & St. Louis and
St. Louis & San Francisco, out of the Birmingham and
Atlanta districts. Only an inconsequential part of the
Seaboard system reaches any coal of its own, and an
extremely long and roundabout haul has been necessary
to supply the central and southern parts of the system.
All the coal for the use of the Coast Line from
Savannah north is purchased in the Virginia fields on
the Chesapeake & Ohio and Norfolk & Western rail
ways, while coal for the portions of the system which
lie in Alabama and Georgia, south of Savannah, is
purchased from the Birmingham district. Coal for
Florida, however, is purchased in the East Tennessee
fields. The relations which the Atlantic Coast Line
has with the Louisville & Nashville are such, however,
that the extremely long haul necessary to supply the
southern portions of the system profits the Coast Line
indirectly because of the direct profit to the Louisville
& Nashville.
Similarly, the Georgia Central brings in all its coal
except 200 tons per working day, from its own Ala
bama mines, and has to haul it by a roundabout route
nearly to the Florida border, on the Western end of
the system, and to Savannah, on the eastern end.
The 200 tons mentioned above are used on the com
pany’s Chattanooga division and come from the Ten
nessee fields.
6
RAILWAY AND INDUSTRIAL SECTION
Within the last year the coal-supply situation of the
Southern coast States has been affected to a very im
portant degree by the entry of the Carolina Clinchfield
& Ohio, and to a lesser degree, but yet an important
one, by the Virginian Railway, while the completion
of the Atlanta Birmingham & Atlantic through from
Birmingham and Atlanta to Brunswick, Ga., although
antedating slightly the other two roads, has not yet
had its full effect, owing to the receivership of the
company.
The situation in brief is that the Clinchfield road is
exceedingly well adapted to supply the Seaboard Air
Line with coal of excellent quality, hauled over a wellbuilt line with favorable grades, and delivered some
hundreds of miles nearer the centre of .the Seaboard
system than is that from the present sources. The
Clinchfield road has not yet been completed far beyond
Bostic, the Seaboard Air Line connection, on the
southern end. When the extension to Spartanburg,
S. C., 30 miles south of Bostic, is completed, the
Clinchfield can deliver coal also to the Charleston &
Western Carolina, associated with the Atlantic Coast
Line, which has its own direct line through to Augusta,
Ga., and to Port Royal, S. C., in the heart of the
Atlantic Coast Line territory.
The Atlanta Birmingham & Atlantic competes with
the Seaboard Air Line’s direct line to Birmingham,
which runs through Atlanta and then north of east
to a connection with Wilmington; also with the
Seaboard Air Line from Montgomery to Savannah,
and thence south to Brunswick and to the Atlantic
Coast Line semi-circle, which starts at Montgomery
and runs thence to Thomasville and Waycross, on its
way to Brunswick. But it is rather better located for
the work of carrying coal from the Alabama district to
the district in the vicinity of Brunswick than either the
Coast Line or the Seaboard Air Line is, and it will
doubtless eventually find an important place, both in
the competitive railway situation and in the economic
system of coal distribution for this region.
The effect of the Virginian Railway on the southern
and southeastern territory is still somewhat hypo
thetical, because it parallels the Norfolk & Western
closely, with its direct and well-located route from the
best West Virginia coal district to tidewater at Norfolk.
Several things about the Virginian are noteworthy.
It has the coal; it has a complete route over which it
can haul coal to tidewater very economically, and it is
sharply on the lookout for business. For example, it
could affect the competitive situation on the Coast
materially by hauling coal in barges to Wilmington,
Charleston, Port Royal and Savannah. As an entirely
independent property, built as the personal venture
of one very rich man, the Virginian occupies a rather
unique position among the railways of the country,
and it seems not unlikely that it may find the best
commercial outlet for its coal in the South rather than
in the North.
CHANGING
R A IL W A Y RELATIONS ON THE
COAST.
The three great Pacific Coast States, Washington,
Oregon and California, and the States immediately
east of them, have until recently lagged somewhat
behind the rest of the country in their new railway
building. Including Idaho, Nevada, Montana and
Utah as well, the total amount of railway built be
|VOL. LXXX1X.
tween 1900 arid 1905 by these seven States was only
2,368 miles, which is at the rate of one mile of new rail
way for each 317 square miles of territory. Between
1905 and 1908, however, this same group of States
built 3,807 miles, and there are certain plain indica
tions that additional mileage may be expected to fol
low rapidly. The population of this group of Far West
ern States now stands at the rate of only about 6.4
persons per square mile, whereas Massachusetts has
nearly 400 inhabitants to the mile. These productive
States, relatively empty of people, have for many years
been facing the dilemma that they could not get in
habitants until more railways were built, and they could
not get more railways until the country was more
densely inhabited. Increasing commodity prices of
the last few years, however, and an enormously ex
tended market for all kinds of raw materials that the
Far West produces have had the effect of attracting
a great many people to the Pacific Coast region, with
the natural result that there have been strong induce
ments to railway building.
For many years after the original trans-continental
lines were built, the general transportation scheme on
the coast remained substantially unchanged. There
was the Canadian Pacific, across the border, while
within the United States the Northern Pacific and the
Great Northern occupied the territory adjacent to the
Canadian frontier; the route formed by the Union
Pacific and the old Central Pacific gave access to the
middle region, while the Southern Pacific and the
Atchison Topeka & Santa Fe reached the southern
coast. Right in the heart of this district, embracing
the greater part of Oregon, northern Nevada and a
corner of California, Idaho and Utah,there is a great
funnel-shaped area, much bigger than Wisconsin and
Illinois together, bounded on the north and east by
the Oregon Railroad & Navigation and the Oregon
Short Line, on the south by the old Central Pacific,
and on the west by the Shasta route of the Southern
Pacific. Inside this great area there.has been substan
tially no railway communication at all, although the
district contains a large strip of the best standing tim
ber in the world, and much rich mineral territory as
well.
Everybody has realized that the time for the devel
opment of this interior country was coming before
long; but many years elapsed before the demand for
the raw materials reached a point sufficient to insure a
development of this region which would guarantee
further railway building there. At the present time
this development hangs in the balance, and a very
slight increase in lumber and ore values would be suf
ficient to bring about a large development of interior
and southern Oregon and the adjacent country. The
Harriman interests have been cautious about making
costly ventures in this territory, but it is highly im
probable that they will allow outsiders to be before
them in occupying this interior country when the
economic time arrives.
Meantime the subject is
being discussed earnestly in the Coast cities, especially
in Portland, and efforts are constantly being made to
induce the entry of outside capital into the field. There
is strong likelihood that the next few years will see this
country opened up, and a considerable amount of
new mileage built therein.
The recent completion of the main line of the Chi
cago Milwaukee & Puget Sound Railway from the
J u ly , 1909. |
RAILWAY AND INDUSTRIAL SECTION.
Missouri River to Seattle and Tacoma may be ex important respects from the existing situation. But
pected to have some important effects, not yet fully it is hard to find anybody who doubts that there will
indicated, in developing the Far West. At present be enough business for all the participants.
the St. Paul extension must be regarded as a line de
pending primarily on its through traffic, like the Great THE TRANSCONTINENTAL RATE SITUATION.
Northern and the Canadian Pacific, but unlike the
An extended review of the decision of the Inter-State
Northern Pacific or the Harriman lines, which find Commerce Commision [in the Spokane rate case was
the local business of the great Western region more published in our issue of April 3, and in the “ Chronicle”
profitable than the through business. But the St. of July 24 we furnished an outline of the-striking devel
Paul will naturally desire to get its increasing share opments concerning the matter which have occurred
of branch line traffic for the long haul across the con since then. It will be recalled that the rates from
tinent, and may be expected to undertake independent Eastern points to Spokane were attacked by
developments wherever opportunity presents. Ar Spokane jobbers on two main grounds: first,
rangements have already been made for an extension that the rates were discriminatory as compared
into the Gray’s Harbor (Washington) timber country, with the rates to points on the Pacific Coast; second,
and it is likely that the company will sooner or later that the rates were in themselves excessive. The
find it to its advantage to develop the extraordinarily Commission failed to sustain the first contention,
fertile valley lying just west of the trans-continental pointing out that water competition was the controlling
divide, which it now crosses at right angles.
factor, as much as ever, in the fabric of rates to coast
There have been two specific events of large import- cities; but it sustained the jobbers in their contention
tance to the Coast this spring and summer.
On May that the Spokane rates were in themselves unreason
23 the Spokane Portland & Seattle Railway was opened. able. Thirty-two articles were enumerated by the
This line, it will be recollected, is the joint enterprise complainants and the Commission ruled that it could
of the Northern Pacific and the Great Northern, only fix rates on the articles enumerated. With re
running along the north bank of the Columbia River spect to 27 of these articles it held that the rate from
from a point near Pasco, on the Spokane-Tacoma line, St. Paul tp Spokane should not be higher than the rate
to Portland. This gave the Hill interests such a splen from St. Paul to Seattle; with respect to five, slightly
did route into Harriman territory that the competitive higher rates to Spokane were permitted. Rates from
situation became strained, and it looked as if the Chicago to Spokane were made about 16 2-3% higher
Harriman interests would build their own independent than from St. Paul to Spokane.
route from some point on the Columbia River into the
The Commission based its decision on the extraordi
Hill stronghold to the northward.
nary grounds that the companies involved were earn
To prevent this competitive waste, an arrangement ing too much, and required them to prepare a new
was made permitting the Harriman lines to make schedule of rates by the first of May, although it ex
through routings across the Columbia River bridge pressed its willingness to extend this date if satisfied
and over the Northern Pacific line between Vancouver that the carriers would require additional time to check
and South Tacoma, Wash., this being the direct in rates on other commodities and to other points.
Northern Pacific route between Portland and Tacoma It apparently recognized that the transcontinental rate
and Seattle.
structure is a very delicate one and seemed to foresee in
Another piece of news, perhaps fully as important, its order that a change in the rates to Spokane would
though bearing a maturity date somewhat more 're have to be reflected in a large number of Far Western
mote, is the traffic agreement arranged in June by the jobbing points—in fact, there was reason to believe
Chicago & Alton and the Kansas City Mexico & Orient. that it took advantage of the case at hand as an oppor
It will be recollected that the Stilwell road has already tunity to force a general reduction in Western rates.
built and is operating something more than half of the
The general question whether or not Western freight
1,659 miles projected, and has received important aid rates are too high need scarcely be discussed at this
from the Mexican Government. A combination ef time. The significant points are that the prosperity
fected between this road and the Hawley lines in the of the West is exceedingly closely bound to the pros
Middle West ought to have an important bearing on perity of its transportation system; that the West is as
Pacific Coast traffic relations for a good many years. yet very thinly populated as compared to the territory
The fact that the outlet of the Kansas City Mexico & east of the Missouri River or in proportion to its own
Orient is close to the mouth of the Gulf of California natural resources, and that it needs additional railways
and a long way from the Pacific Northwest does not far more than it needs lower rates on existing railways.
make very much difference; a combination of ocean The great growth in prosperity which has been ex
coast rates and rail rates can doubtless be made which perienced during the past five years by the principal
will enable this entire new route to participate freely cities of the West, such as San Francisco, Portland,
in Pacific coast traffic.
The Tehuantepec route, Seattle, Spokane and Salt Lake City, demonstrates
which is comparable, is already making a strong at all events that the rate adjustment existing has not
bid for freight which requires to move at less than ex been a hindrance to development.
press speed, and is constantly increasing its tonnage of
As we showed in our article of last Saturday, efforts
such goods as building materials westbound and to adjust this schedule have met with bitter opposition
Hawaiian sugar eastbound.
on the part of the communities most directly affected.
These important changes are just beginning to It is impossible to change the rates to any one place
have their effect. It is safe to say that five years from without affecting the prosperity of some other place,
now the trans-continental business, both as regards and in a country characterized by a group of strong
the through connections and the branch-line sources of jobbing points quite widely separated, with sparsely
supply and of distribution, will be different in some populated territory in between, any change in the basis
8
RAILWAY AND INDUSTRIAL SECTION
[VOL. LXXXIX.
of payment for transportation under which a city has much. A traffic officer has been quoted as saying that
grown up is as vital as the growth over night of a new Spokane stood on both sides of the fence; “ it wanted rates
chain of mountains between producing and consum which the Commission would endorse as reasonable in
themselves, regardless of water competition, and it also
ing towns.
Without going into the full technical details of the demanded concessions of its own to offset water com
arrangement proposed by the railways, it may be petition.” So, at time of writing, it cannot be said
noted that five plans of rate adjustment to Spokane that anything important has yet been done in the
were brought forward; that the first one of these plans Spokane rate tangle, except to arrange for a general
simply extended the principle of the Commission’s conference of all parties at interest in October, and to
class rate in order to include rates to Spokane from put into effect a small group of rates which are not
Omaha, St. Louis and other points; while three of the based on an adjustment of the general situation at
other plans were based quite closely upon an effort all, but are merely a temporary expedient.
It may be noted that the Spokane rate case is the
to make rates which would meet water competition at
first
great conflict between localities which has been
existing levels and would not force the water lines to
precipitated
by the Commission. It is easy indeed
further reductions in a hopeless and endless struggle.
to
get
into
an
entanglement of this sort; but it is ex
The fifth point suggested by the railways was in a sense
analogous to the first and dealt rather with the re ceedingly hard to get out on any well-ordered basis
spective relations between Chicago and St. Paul as of equity. It must be recognized clearly that the
producing points, than with the entire breadth of transportation routes of the country are the deter
mining factors in the commercial prosperity of the
the subject.
producing
and distributing centers, one as against
The shippers of Spokane protested violently against
another.
The
natural laws of trade have always
all five of these plans, while the shippers at Pacific
proved
a
pretty
effective balance as between naturally
Coast points were even more disturbed in their mind
conflicting
interests,
and they have the advantage of
as they contemplated what appeared to be a purpose
flexibility.
For
example,
nobody has ever supposed
less effort on the part of the Commission to take away
from them the effect of the natural geographic ad that Montreal, Boston, New York, Philadelphia,
vantages which caused such cities as Seattle, Portland Baltimore and Galveston could all be satisfied with the
and San Francisco to be located at tidewater instead same grain rates at the same time; but the railways
serving these ports are certainly as much concerned
of back in the mountains.
A hearing was held at Washington on June 9 at in the direction the grain movement takes as the ports
which all interested parties were invited to appear. themselves are. The general principle of competition,
As a result of this conference, it was decided that the existing and potential, can be relied on to preserve
class rates laid down in the decision of the Commission a basis approximating equality in cases like this. A
should be effective July 1. But the class rates are only balance is obtained, although it may be a case of un
a small part of the matter involved. Most of the busi stable equilibrium. But when equilibrium of this
ness to these Far Western point s moves on a commodity sort gets violent disturbance from the outside, as in
rate, and it was impossible to get together on this the case of Governmental interference, it takes a long
matter, owing to the direct conflicts of interest in time to restore a condition even approximating equi
volved. The Commission ordered rates on only 32 of librium. The Commission has succeeded in stirring
the 600 commodities from the Missouri River to Spo up a contest of interests in the Western territory which
kane and laid down no rate-making principle except it may require years to adjust again, and which is cer
the exceedingly vague one that two specified railways tain to bring large losses, both to carriers and to
were, in the opinion of the Commission, earning too communities.
RAILROAD COMPANIES.
FOR MISCELLANEOUS COMPANIES SEE PAGES 143 TO 168, INCLUSIVE.
E X P L A N A T O R Y . — This Supplement Is expressly Intended for use In connection with the Investment news and official reports published from week to
week In the '‘ Chronicle.” Frequent reference Is therefore m ade to the volum e and page o f the “ Chronicle” (as V . 87, p. 000) where fuller Information
m ay be found. Following also each statement 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
black-faced figures. and I ta lic s Indicate a paragraph headed by the name o f som e o th e r com pany.
I n d e x . — A ny com pany not In regular alphabetical order m ay be found by means o f the Index, on another page, to roads leased and consolidated.
D iv i d e n d s . — The d iv id e n d s tabulated In the text are those actually p a id during the calendar years nam ed. Irrespective o f when e a r n e d .
N e t e a r n i n g s are given after deducting operating expenses and usually taxes, but not Interest, rentals or other fixed charges.
S e c u r i t i e s . — These are described In table at head o f page (except the stock, for lack of space, sometimes only In text below) as follows:
M i l e s u f R o a d . — Opposite bonds, this means the miles o f road owned covered by the m ortgage.
S iz e o r P a r V a lu e . — Shows (In dollars unless otherwise m arked), the denom inations or par value, ” 100, A c. ” signifying $100 and larger.
R a te P e r C e n t . — The Interest and dividend rate p e r a n n u m Is here shown: g, gold; cur, currency; x, extra: s, stock or scrip.
W h e n P a y a b l e . — J & J stands for January and July; F A A , February and August; M & S, March and Septem ber; A & O, April and October; M & N .
May and Novem ber; J & D, June and December; Q-J, quarterly from January; Q -F , quarterly from February; Q-M , quarterly from March.
R o n d s , P r i n c i p a l W h e n D u e , E t c . — This colum n shows the date when the bonds mature and the amount and date o f the la st dividend.
A b b r e v ia t io n s In table: M for “ m ortgage” ; gen M for “ general m ortgage” ; con M or consol M for “ consolidated m ortgage"; Inc M for "Incom e m ortgage” ;
g for “ gold ” ; c or cur for “ currency” ; guar p & I for “ guaranteed principal and Interest” : cum for “ cum ulative” ; non-cum for “ non-cum ulatlve"';
con v for “ convertible Into stock at holders’ op tio n "; pref for “ preferred"; s f for “ sinking fu n d"; 1 gr for “ land grant” ; r “ fully registered (no cou pon s’ ;
c “ cou pon ” ; c* “ cou pon , but m ay be registered as to principal” ; r* reg., convertible Into coupon bonds; br “ branch” ; end “ endorsed” ; red, "re d e e m
able” ; d r’n or drawn, "su b ject to call when drawn by lot” ; p m , "p e r m ile” ; as’d , "assum ed” ; x , “ payable without deduction for any t a x .”
M o r tg a g e T r u s te e s and Stock Transfer Agents (TR Treasurer’s Office) are Indicated thus:
NEW YO RK C ITY—
CHICAGO—
N Y C IT Y — (C o n c lu d e d )
BOSTON—
P H IL A D E L P H IA —
B a — Bankers' Trust
AC — Amer Trust & Sav Bk AB — American Trust
Ta
— Trust Co of America
FP — Fidelity Trust
Ca — Carnegie Trust
EC — Equitable Trust
Un — Union Trust
BB — Boston Safe Dep A Tr
GP — Girard Trust
Ce — Central Trust
FC — First T r A Sav Bk
iB — International Trust
GuP— Guaranty Tr A S Dep
Us
— United States Trust
Eq — Equitable Trust
Usm — U S Mort A Trust Co 1C — Illinois Trust A Sav Bk NB — New England Trust
PIP — P rovident Life A Tr
F — Farmers’ Loan A Trust
MC — Merchants’ Loan A Tr
OB — Old Colony Trust
PeP — Penn Co for Insur on
G — Guaranty Trust
NC — Northern Trust
Lives A Gr Ann
SB — State Trust
BALTIM ORE—
K — Knickerbocker Trust
C — R oyal Trust
VVP — W est End T r A S D
ST LOUIS—
Ma— Manhattan Trust
C — Union Trust
BBa — Balt Tr A Guaranty
MSt— Mississippi Valley Tr
Me— Mercantile Trust
VVC— Western Trust A Sav Bk SSt — St Louis Union Trust
CoBa — Continental Trust
PITTSBU RGH —
Mo— Morton Trust
LOU ISVILLE—
FBa — Fidelity Trust Co
CPi — Colonial Trust Co.
SAN FRANCISCO—
Mp— Metropolitan Trust
MBa — Maryland Trust
R CL — Columbia Finance & Tr CS — California Safe Deposit FPi — Fidelity Title & Trust
N — New York Trust
MeBa— Mercantile Tr & Dep FL— Fidelity Tr A Safety V
A Trust
PPi — Pittsburgh Trust
S — Standard Trust
SBa — Safe Dep A Trust Co L L — Louisville Trust
UPi — Union Trust
Subscribers will confer a favor by giving immediate notice of any error discovered in these tables.
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n fir s t p a g e o f ta b le s
Aberdeen & Tom lugbee Val— 1st \1 $750,000 g_xc*A r
Adirondack R y— See Delaware A Hudson Co.
Akron & Barberton Belt— 1st M s f (text) g-U sm .*c& r
Pref stock 6% $4,000,000......... — ................................
First M g ext In 1908 (V 85 p 1645, 1460)............F.c
General mtge £1,160,000--------------------------------.C e.c
Car trust $50,000 due seml-ann gold — ......... ........ N
Do
$74,000 due s a gold (V 82, p 8 6 7 )-- _
Do
Series E, due $50,000 s.-a. (V .88,p .1559)
Alabama .Midland— See Atlantic Coast Line R R ______
Ala N O T ex & Pac J— " A " deb redeem ft. 1910 115.C
“ B” debentures Income redeem after 1910 at 115-_c
” C” debentures Income subj to call any time at 100
Alabama Tennessee & Northern— 1st M gold (te x t). K
Alabama & Vicksburg— Stock $1,050.000------------------Vicksburg & Meridian 1st M gold $ 1 ,000,000-F .xc*
Alabama & Vicksburg con 1st M $1,800,000 g -.C e .c
2d M orlg $700 000 g (1st M on 9 288 acres)-C e.c
Alaska Central— First mtge $30,000,000 g o l d ..............
Albany & Northern— 1st M gold ($50,000 are p r c f)--c
Albany & Susq— Stock dividends guar b y D A H (end)
1st M $10,000,000 g gu p A 1 c o n v (te x t). U sm .c^Ar
Albany & Vermont— Stock 3% guaranteed by rentalAllegheny & W estern— Stock ($ 3 ,5 0 0 .0 0 0 )--................
First M $2,500,000 gold guar p A 1 (en d )_____ G.c*
Allegheny Valley— First M guaranteed by Penn R U .c
Gen M ($20,000,000) gold guar p A 1___ F P i.xc*A r
M ile s
of
R oad
...
290
29
143
143
143
143
52
35
___
142
12
66
66
262
262
D a te
of
B onds
S iz e o r
Par
V a lu e
1907
500 Ac
1902
$1,000
50
50
1,000
£100
1,000
1,000
1,000
1878
1888
1905
1906
1909
1890
1890
1890
1906
____
1881
1889
1889
1905
1896
_ __ _
1906
._
._
1898
1869
1892
See text
R a te
%
5 g
W h en
P a y a b le
J
A
W h ere P a y a b le, an d b y
W hom
B on d s— P r in c i
p a l, W h e n D u e
S t o c k s — L a st
D iv i d e n d
D Col Tr A Sav Bank. Chic Jan 1 1938
$1,024,000
J
& D U S Mtge & T r C o, N Y
4 g
7,830,000
3.380,350 6 In 1908 F A A
do
1,750,000 5 (6) g J
A J Farm L A T r, N Y ; ABos
£910,000
J
A D Glyn, Mills,C A C o.L on d
5 ff
$550,000
4W g F A A Blair A Co, N Y
1.035,000
4 Vi
M A N New York
1,000,000
J A J
4M
Jan '10-JuIy 19
£50 Ac
£748.850
M A N Glyn, Mills, C A C o, Lond
5g
£20 Ac £1,048,390
5 g
M A N
do
do
£20 Ac
£810,653
5 g
A A O See text
1,000
$262,000
A A
Knickerbocker T r C o,N Y
5 g
100
1,050,000 7 In 1908 Yearly Central Trust C o, N Y
1,000
1,000,000
6 g
A & o
do
do
100 Ac
588,800
5 g
A A
do
do
100 Ac
447,400
5 g
A A
do
do
1,000
3,80 4,000
5 g
A A
rn default
1,000
400,000
J
A J Hambleton A Co, Balt
5 g
100
3,500,000
J
A J Del A Hudson C o. N Y
9
1,000 Ac See text
3)S g A A O
do
do
100
3
600,000
M A N lT roy, N Y
too
3,200,000
J A J A Iselln A Co. New York
6g
1,000
2.000,000
A A O
4g
do
do
$ A £
0,998,000
7
A A O Penn R R Co, Phil; A Lon
1.000
M A S Penn R R C o, Phlla
7.250.000
4 £
N ov 1 1910-40
N ov 1 1910-40
N ov 1 1940
Oct 1 1956
Aug 31 1908 7%
A pr 1 1921
A pr 1 1921
A pr 1 1921
Apr 1 1935
Ja'n 1 1946
July 1 1909 4 X
A pr 1 1946
\1 y 15 1909 I X
•July 1 1909 3%
Oct 1 1998
A pr 11910
Mch 11942
ABERDEEN & TOMBIGBEE VALLE Y R R .— Under construction Dec.
1007 from Aberdeen. Miss., to Columbus, 30 miles.
Projected to extend
between Okolona, Aberdeen and Columbus. Miss., and Plckcnsvllle, Ala.
Stock authorized, $50,000. In Dec 1007 tiled a m ortgage to the Central
Trust Co. o f Illinois as trustee to secure $750,000 o f 30-year 5% bonds.
V . 85, p. 1576; V. 80, p. 107. Pres.. 11. E. Reynolds; S e c.,C . B. H opkins.
O ffice, Aberdeen. Miss.— (V . 85. p. 1576; V . 80, p. 107.)
AKRON & BARBERTON BELT R R .— Owns a belt line around Barber
ton. O , and also extends to Falrlawn and Akron. O .; total, 40.2 miles. A
consolidation In May 1902; V. 74, p 1088. Stock, $100,000, owned equally
by the Cleveland Akron A Columbus, Balt. A Ohio, Erie R R . and Northern
Ohio R y. Bonds authorized. $1,500,000; Issued. $1,100,000, of which
$78,000 redeemed by sinking fund; $400,000 reserved for future require
ments. Drawn at 105 yearly Dec l for sinking fund of $11,550 per annum.
V. 75, p. 440.— (V . 78, p. 2598.)
ALABAM A GREAT SOUTHERN R R .— (S e e M a p S o u th e r n R y . ) — Owns
Wauhatehle. T enn., to Meridian, Miss., 201 miles; leases Wauhatchle to
Chattanooga, 5 miles, and Belt R y . o f Chattanooga 45 miles; trackage to
B locton, A la., 8 m ., and Gadsden, A la., 0 m .; total oper., 354 miles.
O R G A N IZ A T IO N .— Controlled by Southern R y
but operated Inde
pendently. In 1905-06 the dual existence o f the enterprise was ended, the
American corporation (Ala. Great South. R R .) succeeding the English cor
poration (Ala. Great South., Ltd.) as the parent corporation, the amount of
outstanding stock remaining unchanged per plan In V . 81, p. 1722; V . 82
p. 159. Owns $833,300 stock o f Southwestern Construction Co. received
In exchange for $833,300 Cincinnati New Orleans A Texas Pacific stock.
D IV ID E N D S —
’01. ' 0 2 . ’03. ’ 04. ’0 5 t o ’08. 1909.
Common stock ............................................
0
0
0
0
o
June, 2
Pref. stock (“ A ” shares old English co.) 9
9
10
9 6 yearly F eb., 3
BON DS.— Gen. mtge. 0s, £484,000, will retire first 6s and debentures.
The funded arrears o f pref. dividends were In Feb. 1900 exchanged for an
equivalent amount ($399,404) of 4 % obligations payable by sinking fund
10% semi-annually till all are redeemed Feb. 1 1911 and unconditionally
guaranteed by the Southern R y. (V. 81. p. 1722; V . 82, p. 159). There are
also $135,000 equipment trusts maturing to A ug. 25 1910.
L A TE S T E A R N IN G S .1 1908-09___ Gross, $3,266,910; net, $1,018,406
11 m os., July 1 to May 3 1./1907-08___ Gross, $3,279,783; net,
594,120
A N N U A L R E P O R T .— R eport for year ending June 30 1 9 0 8 ,In V . 87,
p. 1158, showed Gross, $3,551,501; net, Incl. outside operations, $814,904;
other Income, $79,044; charges, $480,911; bal. for stock, $413,038; dlvs.
(6 % ), $202,821. In 1906-07, gross, $3,979,775.— (V. 89, p. 102.)
ALABAM A NEW ORLEANS TE X A S & PACIFIC JUNCTION R A IL
W AY S CO. (L IM ITE D )— This Is an English com pany controlling Alabama
A Vicksburg, 143 miles; Vicksburg Shreveport A Pacific, 189 miles; New
Orleans & North Eastern, 196 miles.
ST O C K .— Pref. A 6% cum ., £1,500,000; prf. B £2,500,000; par, £10.
First dlv. on pref. " A ” stock, 3 )4 % . paid March 10 1908, overdue a b t.15 6 % .
S E C U R ITIE S O W N E D .— Alabama A Vicksburg $30 000 1st m tge,
$363,400 2d m tge., $141,100 consol, mortgage and $581,500 stock; V icks
burg Shreveport A Pacific, 51,613,000 gen. m tge., $2,080,100 pref. and
$2,773,500 com . stock; New Orleans & North Eastern, $5,195,000 gen.
m tge., $1,500,000 Incomes and $5,320,000 stock; Southwestern Construc
tion C o.. $448,700 stock; Railroad Lands C o., $103 850 (of $120 000) stock.
COUPON P A I D .-- F o r ......... ’ 94. ’95. ’96. ’98. ’99. ’00. ’01. ’02 to ’08
5
5
5
5
5
5
5
'A ” Debenture_____
5 % yearly
.875 i
■B”
do
.........
5
5 % yearly
2 'A 2 H
5
- - -’ C”
do
......... ..............% - -1H - 2 % 5 % yearly
IN T E R E S T OR D IV ID E N D S
A m oun t
O u ts ta n d in g
o
o
oo
June 1 1942
Tune 26 '09 2%
Feb 28 ’09 3 %
Dec 1 1927
Dec 1 1927
T o Feb 1915
E A R N IN G S.— See separate statement for each o f the controlled co m
panies. In year ending Dec. 31 1908,net from Investments was $145,990;
paid general expenses (£4,413), Income tax (£10,479), Interest on “ A ”
debentures (£35,570), on “ B” debentures 5 % paid In Jan. 1909 (£ 49 ,79 8 ),
on " C " debentures, 5% paid Dec. 1 1908 (£38,506); sink. fd . to extinguish
debenture discount, £6,500; balance, surplus. £723.— (V. 88, p. 563.)
ALABAM A TENNESSEE & NORTHERN R R — Owns from R eform , A la .,
on the Mobile A Ohio southerly; 45 miles com pleted April 1908. Successor
to Carrollton Short Line R y. Stock authorized, $10,000 per mile.
Of the bonds ($1,500,000 author. Issue), $232,000 were Issued against
the first 29 miles. $30,000 have been Issued for a steel bridge over the
Tom blgbee River, $10,000 are Issuable for a steel bridge over the Noxubee
River, $962,000 are Issuable at the rate of $8,000 per mile for additional
mileage, but only when the net earnings on 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 equipment on the basis
Of ten-elevenths of cost of equipment. V. S3, p. 1036
For year ending
June 30 1908, gross, $45,664, against $45,875 In 1906-07; net, $22,687.
against $23,834. For 11 months ending May 31 1909, gross, $57,668,
against $42,112 In 1907-08; net, $31,231, agst. $20,879.— (V. 83, p. 1036.)
ALABAM A & VICKSBURG R Y .— Owns Vicksburg to Meridian, Miss.,
and branch, 143 miles, all steel rails. Controlled b y Alabama New Orleans
T exas & Pacific Junction Co., which see.
D IV ID E N D S .— 1890 to 1892, 3 % yearly; 1896. 3 % ; 1897 to 1899, 6 %
1900 to 1902, 6 % yearly: 1903, 9 % ; 1904 to 1908, 7 % yearly. Stock divi
dend o f 50 % In 1900.
,
B O N D S .— $1,000,000 consols are held to retire Vicks. A Meridian firsts.
E A R N IN G S.— 11 m os.,11908-09______Gross. $1,121,600; net, $323,923
July 1 to May 31.
J1907-08______Gross, 1,405,123; net, 294,404
R E P O R T .— Fiscal year ends June 30. Report, V. 87, p. 1295.
Y ea rs—
G ro ss.
N et in c . * l n ' . , & c . . B a l . , s u r .
D iv id e n d .
1907-1008............. $1,510,761 $352,259 $231,105
$121,154 (7)$73,500
1906-1907_______ 1,554,961
466,464
295,160 171,304
(7) 73,500
♦Includes $109,447 for additions and betterments in 1907-08 and $175,145
In 1906-07.— (V . 85, p. 158, 721, 1394; V . 87, p. 1295.)
A L A S K A CENTRAL R A IL W A Y .— Building from Si ward on south
coast o f Alaska north to near Fairbanks, on Tanana R iver, 450 miles. Of
this, 52 miles from Seward north were In operation Sept. 1 1907, and 60 miles
additional under construction, contract having been let for first 185 miles;
V. 82, p. 1495. Branch Is proposed from Knllt, about 150 miles from
Seward east to the Manatuska coal fields, 38 miles. V. 84, p. 1112. A n
nual report was In V . 87, p . 281.
On May 21 1908 receivers were appointed. O. G. Larabee of Spokane,
W ash., and John F. Goodwfin of Valdez, Alaska, are now receivers. V . 87.
p. 1237; V. 80, p. 1283. On March 27 1909 $250,000 receivers’ certificates
were authorized to repair the road and continue construction. V . 88, p.881
In June 1909 negotiations for the sale of the road at private sale were
reported to be pending. V . 88, p. 1618.
C O M M ITTEE.— In Feb. 1919 a bondholders' com m ittee consisting of
John R. Thom pson, James T . Gardner and Frank G. W right, of Chicago,
with Chicago Sav. Bk. & Tr. Co. as depository, requested deposits of 5s
of 1905 under an agreement giving broad powers. V . 88, p. 451, 503.
Stock authorized, preferred, 5% non-cum ulatlve, $2,500,000; com
m on, $27,500,000; outstanding, preferred. $1.960 009; com m on, $4,000,
000: par of shares. $100 Bonds ($30 (100,000 authorized) are Issuable
at $35,000 per mile of main and $25,000 o f second track, with additional
bonds for terminals, tunnels, bridges, A c.: outstanding, $3,804,000, $196,
000 additional being deposited with the trustee pending retirement of $98 ,
000 old bonds due 1933. Of the bonds and stock, $8,500,000 each are
Issuable on the first 185 miles. V. 81, p. 1846; V. 82, p. 1495; V .87, p. 935.
10
[VOL. LXXXIX.
RAILWAY STOCKS AND BONDS.
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f i r s t p a g e o f ta b les
Allentown Terminal— 1st M guar p & l (end) g -.C c .x c *
Alton Jacksonville ex Peoria R y — 1st M $800,000 gold
Ann Arbor First m tge $7,000,000 g o ld -------- Alp.xc*
Arkansas Louisiana & Gulf— 1st M $6,000,000 g o ld ..
Arkansas Okla & YVest — 1st M $1.250,000 g (text) Usm
First refunding m ortgage $400,000 g o ld ..................N
Atchison & Eastern Bridge— 1st M g s f red at p a r.-C e
Atch T op & Santa Fe R y— Stock, com $250,000,000-.
Stock pref $131,486,000 5% non-cum ........................
Chicago tc St Louis 1st M ($10,000 p m) cu r------F.c
Chicago Santa Fe tc California 1st M g o ld -.B B .c* & r
General m ortgage gold (see t e x t )........... .U n .c*& r
A d i Inc M cumulative sine July 1 1900 g.C e,c*& r
do do Interest stamped payable M tc N ................
Eastern Oklahoma Dlv 1st M $9,603,000 g -.G .c * & r
Transc n t'lS L lstM $30,000,000g r c d l l 0 Moxc*r&r*
Deb gold Scr F to L $2,500,000 each; call 105.G .c& r
Bonds $50,000,000 con v com stk red (text) Alo.c*&r
Bonds $30,000,000 con v com stk red (tex t).S .x c*& r
Bonds $35,000,000 g conv com stk red(tex)Aloxc*& r
Hutchinson tc So 1st M g red 105 Incc 1 9 0 8 .-O B .c*
San Fr tc San Jo Val 1st M g call 110 aft 1915-.A le.e
Santa Fe Pres tc Phoenix— 1st M $5,000,000 g.A lcc*
P rescott & Eastern first mtge p tc 1 g u a r ...............Ce
Atlanta Birm & Atl— Atl & B R y 1st M red 110-OB.c*
R eceiver’s certificates, redeemable par______ _____
Atl Birm & Atl 1st M $30,000,000 g red 1 0 6 .-OB.c*
Joint coll trust notes gold redeemable 10 1 ------ l a .c *
Equip bonds due $60,000 s -a __ _____________ --F a
Kq'ulp bonds Ser B (V 85 p 39) due $86,000 s -a ..G
Georgia Terminal Co 1st M $4 000,000 g g u p & l .OB
Alabama Term ’l R R IstM $4,000,000 g gu p & l.O B
Atlanta & Charlotte— Stock (see t e x t ) ................. ..........
Pref M (old 7s extended In 1907) (see V 64 p 286). .c *
First m tge extended In 1907— .......................... ........ r
Incom e bonds (not cum) ext In 1900 and 1907.........
M ile s
of
R oad
3
__
292
143
_
22
81
__
__
142
440
8,339
8,339
8,339
48
695
__
141
372
198
26 14
337
___
_
___
269
265 14
265
...
D a te
of
B onds
1889
1905
1895
1907
1907
1900
1806
1898
__
_
1885
1887
1895
1895
1895
1903
1908
1902
1905
1907
1909
1898
1896
1892
1898
1904
1909
1906
1906
1906
1907
1907
1907
S iz e, or
Par
V a lu e
A m oun t
O u ts ta n d in g
$1,000
1,000
1,000
1,000
1,000
50
1,000
R a te
%
$450,000
4 g
200,000
5 g
7,000,000
4 g
2,860,000
5 g
6 g
See text
773,500 4 In 1908
300,000
4 g
4 g
518,000
1,000
100 122,591,000 5 In 1008
100 114.173,730 5 In 1909
6 cur
1,500,000
1,000
560,000
1,000 te c
5 g
4 g
500 &e 152,155,000
500 tcc 22,277,000
4 g
4 g
500 &c 29,069.000
1,000 tcc
.) ,603.000
4 g
4 g
1.000 &c 17,000,000
1,000 tcc 12,500.000
4g
4 g
1 .000 A c 31,601 ,000
1.000 tcc 21 796 000
6g
4 g
1,000 &c See text
192,000
5 g
1,000
6,000,000
6g
1.000
4.940,000
1 ,000
5g
5
224.000
1,000
4,090,000
5 g
1,000
5
3,250,000
1,000
1,000 14,443,000
5 g
8,000.000
5 g
1,000
5
900,000
1,000
1,376.000
5
1,000
3,000.000
5 g
2 44 5,000
5 g
1,700,000 7 In 1908
100
500,000
1877
4)*
1,000
4,250.000
1877
4M
1,000
750.000
4H
1880
500
W hen
P a y a b le
W h ere P a y a b le, an d by
W hom
A
J New York and Phlla
A
S New York tc St Louts
Metropolitan Tr C o, N Y
Q— J
J & J N Y Mort T r & Col Sprg
J tc J U S Mtge & T r C o. N V
3 — M Check from Co’s office
M & N New York Trust C o, N Y
F tc A
J tc J Central Trust Co, N Y
.7 tc D Checks mailed from N Y
F tc A
do
do
M tc S 5 Nassau Street, N Y
J tc J
do
do
A tc O
do
do
do
do
N ov
M & N
do
do
M tc S
do
do
J tc J
do
do
F tc A
do
do
J tc D
do
do
J tc n
do
do
J tc
D
do
do
J tc J
do
do
A tc 0
do
do
M tc s New Y ork
”
A tc 0 New York
J
tc
J Old Colony Trust C o,B os.
J tc J Farmers’ L tc Tr C o , N Y
J tc J Jan 1909 coupon not paid
M tc N See text
M tc N May ’09 coup pd July ’09
.7 tc
J July '09 coup pd wli due
J tc J Jan 1909 coupon not paid
J
A
J Jan 1909 coupon not paid
M tc S U S Mtge tc Tr Co, N Y
J tc J
do
do
J tc J
do
do
.7 tc J
do
do
J
M
B on d s— P r in c i
p a l, W h en D u * .
S tock s—L a st
D iv i d e n d
July 1 1910
Mch 1 1937
July 1 1995
July 1 1957
Jan 1 1947
Mar 20 190 ) 1 %
May 1 1025
Aug 71906
July 1 1928
June 1 1900 2 M
Aug 2 1009 2 K
Mch 1 1915
Jan 1 1937
Oct 11995
July 1 1995
July 1 1095
Mch 1 1928
July 1 1958
Feb 1 1910-1914
Junel 1955
June 1 1917
.Tune 1 1955
Jan 1 1928
Oct 1 1940
Sep 1 1942
Apr 1 1928
Jan 1 1934
July 1 1911
Jan 1 1936
May 1 1910
N ov ’ 0 9 -N o v ’ 16
Jan ’ 10 July*17
Jan 10 1927
Jan
1 1927
Mch 5 1909 3>$
Jan 1 1910
Jan 1 1910
Jan 1 1910
Pres., R . D. Miller, Chicago; Sec. and Treas., James A. Halglit.
Trustees; Albert C. Frost, Chicago; Henry C. Osborne ami Gwyn L
Francis, T oronto: George A . Ball, Munele; George Turner Spokane; F.
Augustus Helnze, Butte, Mont.; James A . Moore and James A . Haight
Seattle. Eseeutlve offices, 108 La Salle S t., Chicago.— (V . 88, p. 1618.)
ALBA N Y & NORTHERN R Y — See page 108.
ALBAN Y & SUSQUEHANNA R R .— (See M a p D e la w a r e & H u d s o n .) —
R O A D .— Owns Albany to Bingham ton, N. Y ., 142 miles.
1.EASED for 150 years from Feb. 1870 to Delaware tc Hudson C o.; rental
Is 0 % per annum on stock. (See guaranty. V . 56, p. 774.) Stockholders’
protective com m ittee. Geo. P. Butler, Chairman; U. S. Trust C o., deposi
tary, claims for stock the benefit of refunding effected In 1006, say 3 %
yearly on stock. V . 81, p . 1847: V . 83, p. 968, 1036. In Sept. 1907 the de
cision of the lower court sustaining their position was affirmed. V . 86,
p. 284; V . 88, p. 938, 1196, 1497.
B O N D S — The stockholders on April 7 1905 authorized $10,000,000 of 40year 3>$ % bonds to refund the 510,000,000 o f 6s and 7s maturing April 1
1906, which were In June 1905 offered at par pro rata to the stockholders o f
the D . tc H. The new bonds arc dated April 1 1906, guar. p. & I., and until
April 1 1916 convertible Into D. tc H . stock— $500 stock for 51.000 bonds.
Of the bonds $3,354,000 had been converted to June 1909. V . 80, p. 1174,
1362. 2343. Form of guaranty V 82, p 986.
Pres., Geo. P. Butler: Sec. and Treas., W . L. M. Phelps. New directors
(O ct. 1906), V . 83, p. 968; V . 85, p. 1004.— (V. 88, p. 1196, 1497.)
miles under construction. V. 86. p. 106. Pres., Alfred Cowles, Chicago:
V .-P . and Treas., W m . A . Otis; Sec., C. E. Titus, Colorodo Springs, Col.
— (V. 86, p. 106.)
A R K A N SA S M ID L AN D R R .— See page 168.
A RK AN SAS OKLAH OM A & W ESTERN R R .— T o extend from Eureka
Springs, A rk ., at a connection with the Missouri & North Arkansas, w es
terly to Pryor Creek, Okla., 125 miles, o f which Rogers to Slloam Springs
Ark. 30 miles. In operation In Sept. 1908. Stock auth., $3,000,000; ou t
standing March 1908, $720,000; par, $100. Bonds are limited to $1,250,
0 0 0 at $ 1 0 , 0 0 0 per mile.
V . 86, p. 107. Pres., W. R. Felker, Rogers, Ark.
Sec., F. F . Freeman: Treas., J. E. Felker, Rogers, A rk.— (V . 86, p, 107.)
ASHEVI LLE & SPARTANBURG RR — See Southern R y ., Carolina D lv.
ASTORIA & COLUMBIA RIVER R R — Goble to Seaside, O re., 70 m .;
branch.W arrenton to New Astoria, 2 in.; trackage, Goble to P o rtla n d ,40 m .;
total, 121 miles. Stock, $1,619,000; par $100. In 1907 acquired by Great
Northern and Northern Pacific. V. 84, p. 867. Year ending June 30 1907,
gross, $617,105; net, $253,175; other Incom e, $4,985; charges, $188,54S;
balance, surplus, $69,612. Pres. Francis It. Clarke.— (V . 85, p. 1645.)
ALBANY & VERMONT R R .—Owns road from Albany to Waterford .Tct.,
N . Y ., 12 miles. Leased to Rensselaer tc Saratoga In 1860 and now oper
ated by Delaware & Hudson Co. Annual rental, $20,000.
(THE) ATCHISON TOPE K A & SANTA FE R Y. — (S e e M a p .)— T he sys
tem operated July 1 1908 comprised 9,815.62 miles o f railroad and embraced
an unbroken line o f track from Chicago, III., via Kansas City, M o., and A l
buquerque, N. a m to the Pacific Ocean; also to Galveston, T e x ., and thp
Gulf of M exico.
For operating purposes the 9,815 m. arc divided as follows:
Afile s
M ile s . I
20.17
Atchison Topeka A S. F ------ 7,188.01 R io Grande A El P aso............
Gulf Colorado & Santa F e .. 1,518.18 Southern Kan. R y . o f Texas 125.07
Eastern R y . of New M exico. 706.791Santa Fe Prescott A Phoenix 257.40
This Is exclusive of 111 miles of new lines under construction substan
tially com pleted on last-named date. Also controls through ownership of
securities or owns Jointly with other roads 682.03 miles.
In 1900 acquired control o f Gulf Beaumont & K. C. and Gulf Beaumont
A Gt. Northern, which are leased.
V . 76, p. 751; V . 77, p. 1224. H olly A
Swlnk R y ., H olly to R ocky Ford, C ol., 106 miles, was opened July 1 1908.
V . 82, p. 99, 867; V. 83, p. 379, 562. Leases Cane Belt R R .,105 miles
(entire stock owned) for 50 years from July 1905. V. 85, p. 598.
O R G A N IZ A T IO N .— '1'hls com pany was organized on Dec. 12 1895 under
the general laws of Kansas by the purchasers at foreclosure sale of the
property and franchises of the Atch. T op . A S. Fe R R . Co. V. 60. p. 653.
The railway com pany In July 1908 owned In fee 6,693.33 miles oi system ,
and also all, or nearly all. the bonds and stocks of the various com panies In
which the title to the other lines Is vested. V. 68, p. 974. A list of such
holdings Is In the general mortgage (In V . 62. p. 732, 733) and successive
annual reports. See V. 69, p. 1300; V . 71. p .2 7 .
,
_ t „
San Francisco A San Joaquin Valley R y . was merged June 1901. Cut-off
T cx ico , N. M ., to Brownwood, T ex., 300 m ., under construction. V .89,p.228.
Has a Joint Interest with the Southern Paclllc In the Northwestern Pacific
R R ., Incorporated Dec. 31 1906 as a consolidation (see that com p any).
S T O C K .— The pref. stock has preference as to assets and non-cum ulatlve
dividends not exceeding 5 % per ann., as declared by the board of directors
out of net profits
No other m tee. and no Increase In the pref. stock can be
made without consent of m ajority of all pref. outstanding and of all com .
stock represented at a m eeting. The total auth. am ount of pref. Is $131,
4 8 6 ,0 0 0 , of which $10,800,000 reserved to acquire other lines; also $6,486,
470 In special trust for Improvements, extensions, &c. P ref. stock certs. In
“ .Supplement” of April 1897, p. 3. In July 1909 Un. Pac. sold $10,000,000
pref. stock purchased In 1906. V. 84, p. 50, 569; V . 89, p. 223.
Stockholders voted Jan. 30 1907 to Increase the auth. com . stock from
$152,000,000 to $250,000,000 and also not exceeding $98,000 JI00 bonds, to
be convertible into com . stock. V . 88, p. 1001. Sec BON DS below.
D IV . ( % ) . 1899. 1900. 1901. 1902 to 1905. 1906. 1007. 1908. 1909.
On co m ------ 0
o
3H 4 yearly (J&D) 4H
6
6 June, 2
On pref------ 2 H
4
5
5 yearly (F& A) 5
5
5
5
BO N D S.— The Gen. Mort. (A bstract V . 62, p. 731-739; see also V . 68,
p. 974; V. 86, p. 1098) gives a lien, either by direct mortgage or by collateral
trust, on 8,33’J miles of the system , together with all the equipment and
terminals owned by the com pany, and future acquisitions.
G e n e r a l m ortg a g e 4s (limited to $165,490,500).
------— R es e r v e d ---------a T o retire guar, fund notes paid and car trust* at 7/1 1805.
I n 1008.
not exccedlng$l ,250 for each $1 .000 o fo ld bonds .$15,500,000 $2,330,383
t> Non-assenting bonds from reorganization o f I860.
1 ,500,000
504,960
c Chicago tc St. I.ouls 1st mtge. 6s........................... ..
I.ROn.onn
F or Improvements, terminals, second track, & c— 30,000,000 1,852,102
For acquisition of Atlantic & Pacific and other lines 20.ono.oy* 6,731 6M
T he A d ju s tm e n t M o r tg a g e (A bstract..V . 62, p. 739) Is to the Central Trust
Co. as trustee. Interest Is payable only out of net earnings up to 4 % in each
year, cum ulative since July 1 1900. Present Issue Is limited to $51,728,000,
but when the $30,000,000 general 4s authorized for Improvements as above
have been Issued. $20,000,000 additional adjustm ent 4s m ay be Issued for
the same purpose at not exceeding $2,000,000 In any one year, but only by
a m ajority vote of the adjustment bondholders, X n t e r e s t ' - In N ov. 1897
paid 3 % ; since, full 4 % yearly
__
The Eastern Oklahoma division 4s o f 1003. V . 76, p . 434; V . 79, p.
1331; V 84, p. 1549; V. 85. n. 598; V . 86, p. 980, 1041
The T r a n s -C o n tin e n ta l S n o rt L i n e ” first gold 4s of 1908 are limited
to $30,000,000 authorized Issue. The $ 1 7 ,0 0 0 , 0 0 0 sold In July 1908
cover 695 miles In operation, comprising the line from Amarillo, T e x .,
to R io P ucrco. New Mexico, 363 miles (Including the Helen cu t-off, 268
miles, com pleted In 1908), the Pecos Valley A Northeastern, Cameo,
N. M., to State Line, 208 m ., and branches aggregating 124 m. 'The re
maining $13,000,000 can be Issued at $25,000 p. m . V. 87, p. 479, 878
ALLEG HEN Y & W ESTERN R Y .— (S e e M a p B u f f . R o ch . A P i l l s . ) —
Punxsutawney to Butler, Pa.. 60 miles; branch, New Castle, P a., to Cement
W orks, 6 m .; total, 66 miles. An extension of Buffalo Rochester & P itts
burgh, to which leased In perpetuity for guaranty of bonds and 6 % on stock.
Uses Balt. tc 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.)
ALLEG HEN Y V A LLE Y R Y — Owns from Pittsburgh to Oil City, P a .,
132 miles; Red Bank, Pa., to D riftw ood, 110 m .; others, 22 miles.
Controlled by Pennsylvania R R . C o..w hich on Jan. 1 1909owned $10,335,
150 of the $10,544,200 com . and $16,911,605o f the $17,174,000 of 3 % cum u
lative pref. stock. The stockholders of the I’cnn. R R . voted March 13 1006
to purchase the road, but merger not com pleted to Apr. 1909. V . 81,
p. 1847; V . 82, p. 159, 459.
B O N D S.— O e n c r a l m ortg a g e Is guaranteed by Penn. R R . by endorsement
on each bond. Real estate mortgages Jan. 1 1909, $808,000.
In 1008, gross, $5,618,128; net, $1,249,182: Int., taxes, & c., $1,228,578;
b a l., sur., $20,604.— (V . 82, p. 159, 626, 691; V . 88, p. 1060.)
ALLENTOW N R R .— Topton to K u tztow n, P a ., 4 H m .; Reading system .
S T O C K .— $1,268,884 (par $50), Including $1,071,400 pledged under
Reading Co. general m ortgage. No bonds.
ALLEN TOW N TE RM IN A L R R .— Owns 3 H miles o f railroad In Allen
tow n, P a ., connecting the East Penn. (Phlla. & Rending) with the Cent, of
N. J. Leased for 999 years to Phlla. A R ead, and Cent, of N. J. (by assign
ment from Lehigh Coal & Navigation Co.) at Interest on bonds and 5 % on
$450,000 stock (par $50), bonds being guaranteed, principal and Interest,
by Phil. & R ead. H R . C o . (foreclosed) and Lehigh Coal & Navigation.
ALTON JAC KSON VILLE & PEORIA R Y .— Projected from Alton to
Jacksonville. III.. 65 miles, of which Alton to G odfrey. 6 m ., operated In
April 1908, and balance under construction. Stock auth., $800,000; ou t
standing, $300,000; par $100. Bonds ($ 8 0 0 , 0 0 0 auth. issue). Mercantile
Trust C o., St. Louis, trustee. See table above. Pres., Aaron O. Auten,
Jerseyvllle, III.; Treas., A . W . Cross; S ec.. June M. R hoads, Jerseyvllle, 111.
ANN ARBOR R R .— (S e e M a p D e tr o it T o l . A I r o n t o n .) — Owns road from
T oled o, O ., to Frankfort, on Lake Michigan, 292 miles; trackage, Toledo to
Alexis, 9 m .; operates car ferries between Frankfort, M ich ., Kewaunee anil
M anitowoc, W Is., and Menominee and Manlstlque, 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. Ann Arbor A Nor.
M ich., foreclosed. In 1906 the Det. T ol. & Ironton R R . (which see) had
acquired $3,102,400 pref. and $2,190,000 com . stock. V . 82, p. 508.
STO C K .— Comm on, $3,250,000; preferred, $4,000,000; 5 % non cumula
tive: par $100
Pref. stock cert., ‘Supplem ent’ ’ O ct. 30 1897, p. 3.
E A R N IN G S.— 11 m o s .,(1908-09...........Gross $1,564,774; net, $443,018
July 1 to May 31.
11907-08-’ _____Gross, 1,740,015; net, 452,078
A N N U A L R E P O R T .— F or 1907-08 was In V . 87, p. 1295, showing
Y e a r e n d . J u n e 30—
1908.
1907.
1906.
1905.
Grossearnlngs.................... $1,951,294
$2,182,518 $2,175,231 $1,922,593
Net earnings....................
$525,021
$766,859
$783,551
$585,229
Net Income’. ....................
$555,629
$794,443
$811,816
$600,902
D educt— Interest............
280,000
280,000
280,000
280,000
T a x e s ............................
136,426
137,000
101,111
54,603
Balance, surplus.........
$139,203
$377,443
$430,705
$266,299
New directors Sept. 1008. V . 87, p. 544. Pres., Eugene Zlmmermann;
S ec., G. Caspar Niles.— V . 87, p. 1295, 1299.
ARG EN TIN E CENTRAL R Y .— See page 168.
A RK AN SAS LOUISIANA & GULF R Y .— T o extend from Monroe, L a .,
at a connection with the St. Louis Iron Mountain A Southern and Vicksburg
Shreveport A Pacific to Pine Bluff. A rk .. 136 miles, with branch, 7 miles;
total, 143 miles. Of this. Monroe to Hamburg, La.. 56 miles, was nrx-ned
July 1908. Stock auth., $3,000,000; outstanding Sept. 1908, $1,240,000.
Bonds ($6,000,000 auth. Issue), Colorado Title A Trust Co. o f Colorado
Springs, C ol., trustee; $2,860,000 were subscribed for on account of 143
ATCHISON & EASTERN B RID G E .— Owns railroad and wagon bridge
at A tchison. K an., connecting with the union station. Used by the, Atcri.
T op . & Santa Fe, the Chic. R . I. A p ., the Mo. Pan. and the Chic. Burl. &
Quincy.
A reorganization of the Chic. A Atcb. Bridge Co. foreclosed Mch 4
1 8 9 8 , per plan V . 65, p. 366.
Stock, $700,000; par, $100 per share. Pres,
and Treas., H . P. Eells, Cleveland, O .— (V. 67. p. 578.)
Ft.Bcnton
Belkuapl
>vH I
Seattle
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[VOL. LXXXm
RAILWAY STOCKS' AND BONDS.
12
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , see n o te s
o n fir s t p a g e o f ta b les.
IN T E R E S T
M ile s
of
R oad
D a te
of
B onds
Atlanta Knoxville & Northern Ry— See Louisville & N ashvll le
85 1908
Atlanta & St Andrews Bay— 1st M $1,000,000 g red..
2d M ($1,000,000 authi...............................i t .- - -.-3.3 1903
Atlanta Terminal— First mtge $1,500,000 gold.S,c*Ai
86
Atlanta & West Point— Stock---------------------------------1881
Debenture certltlcates-----— - - - - - —
83 1889
Atlantic City— First Mtge $2,200,000 go d__auP.xc*
1900
Atlantic City purchase money real estate mtge--UP
66 1898
Sea Coast prior lien mortgage gold.......................- -
1901
All
1st cons M $4,500,000 g gu.....................................UP
Atlantic Coast Line Co. (Conn.)— Stock $30,000,1)00..
1897
Certs of lndebt Inc non-eum $5,000,000------- SBa.r.
1900
do
do
redeemable at 105 after 20 yrs.-SBa
1905
do
do
redeemable at par after 5 years
Atlantic Coast Line RR— Stock common (text)..
Class “ A” com stock tax exempt (Rich & Pet certs)
Preferred stock 5 % ....................... . . . . . . . . . . . . .
First consol mtge $80,000,000 gold (text) Us.c*&r* 3,944 1902
1902
Coll tr M crold secured by L A N stk red 105 e*&r
104 1904
1st M Jack ASow$2,000,000g(V 81,p 1559).SBa,e*
1902
Certlilcates of Indebtedness (new) $25,000,000 — . .
1907
Notes. $5,000,000 gold....................................VKC&I
Equip trust bonds gold $225,000 dues-a . — SBa c* ■ __ 1907
B o n d s U n d e r ly in g F i r s t C o n s o lid a te d 4s
102 1883
North East (S C) cons M gold Flor to Charleston -c
239 1880
Wilmington Col A Aug 1st M (Wllm to Columbia).
696 1898
Atlantic C L of S C gen 1st M (1st on 355 m)g.S Bac*
68 1881
Petersburg M class A gold---------------- -r 68 1881
do
do
class B gold (Petersburg to Weldon).
22 1875
Richmond A Petersburg first mtge ($24,500 are 7s).
27 1890
Consol M g (Richmond to Petersburg, etc)...-Ce.c*
479 1885
Wllm & Weldon gen M ($938,000 are 4s) g-.SBa.o*
90 1897
Wilmington A New Bern 1st M gold assumed.SBa
110 1889
Nor A Car 1st M gold (P Pt Va to Tar N C).-.Ce.c*
110 1896
Second mortgage gold------------------------ -SBa.c*
547 1884
Sav Fla A W 1st M g ($2,444,000 are 5s)..Alp.c*&r
111 1886
Charleston & Savannah gen mtge gold.........SBa.c*
16(1 1888
Bruns* W 1st M (Brunswick to Albany) g gu.Mp.c
174 1888
\tahama Midland 1st M g (Balnh to Montg) _-Mp.xc
S iz e , or
Par
V a lu e
$1,000
$425,000
1,000
100
1,000
1,000
1 000
1,500,000
1,232,200
1,232,200
2,200,000
75,000
350,000
1,850,000
12,600,000
5,000 ,000
5.000,000
3,000,000
47,537,600
1,000.000
1 596,600
50.468.000
35.000 ,000
1,833,000
21,566,600
3 142,000
3.598,000
1,000
100
100 Ac
100 &c
100 Ac
100
100
100
1,000 Ac
1,000 Ac
1,000
100 Ac
1,000 Ac
1 000
1,000
1,000
1,000
1,000
1,000
500 Ac
1,000
1,000
1.000
1,000
1,000
1,000
l ,000
500 Ac
1
1.000
The $30,000,000 d e b e n tu r e 4a of 1902 are paid off $2,500,000 yearly.
No new mortgage on lines owned when the debentures were Issued can
be made without securing debentures thereunder. See statement. V. 74,
p. 150, 204; also V. 75. p. 680. The debentures are paid from cash In the
treasury and not Included In the Income account. V. 17. p. 2338.
The 4s of 1905 ($50,000,000 authorized Issue) are convertible at par be
tween June 1 1 9 0 6 and June 1 1918, and may be called at 110 on any Interest
day, but when called may be converted Into stock provided the time for con
version has not expired. No new mtge. on lines owned Jan. 1 1905 shall
be made without securing the convertible bonds thereunder. \ . 7J, p.
2695; V. 80. D. 649; V. 81, p. 1174; V. 82, p. 391.867.
Stockholders on Jan. 30 1907 authorized $98,000,000 of convertible
bonds. The $26,056,000 Issued In 1907 are convertible Into com stock at
par to June 1 1913 and may be called at 1 1 0 on any int. day, but when called
may be converted Into stock, provided the time for crmveiylon has not expited. No new mtge. on lines owned Jan. J!,|7 shall be made without se
curing the 3.s of 1907 thereunder. V. 84, p. 1051, 111.., \ .85, p.9r, 283,529.
Stockholders were offered In 1909 the right to subscribe for $28,258,000
convertible 4 % bonds at 104, payable one-fourth each at time of subscrip
tion, between Feb. 2 and Feb. 4, between Aug. 2 and 4 and betweenleb. 7
and Feb. 9 1911 arc convertible into common stock at par to
June
and may be called at 110 on any Interest day, but when called may be
converted into stock, provided the time for conversion has not expired. No
new mortgage on lines owned Jan. 1 1905 shall be made without securing the
convertible bonds thereunder. V. 8 8 , p. 1435, 1;>59.
D iv is io n a l B o n d s , in A d d it io n to T h o s e i n T a b le A b o v e , O u tsta n d in g J u n e ’08.
N a m e o f issu e.
D a te .
I n te re s t, ''afafundlny M a t u r it y
Gulf Beau A K C 1st M gold.......... 1893 I f f - A
W 8 . W Aug
9 3
2d M ($138 500 are 6 s)............... 1893 5 4 5 ? F-A
315,000 Aug 1 1913
Cane Belt 1st M.g, red(V. 87, p.36) 1901 5 g J D
750,000 June 1 1921
LATEST EARNINGS.H908-09--Gross, $86,163,215; net, $33,533,246
Umos.V July 1 to May 3 1 .j 1907-08--Gross, 84,287,178; net, 27,233.643
Road operated, 9,795 av. miles In 1908-09; 9,414 miles in 1907-08.
R E P O R T . — Annual meeting third Thursday In October.
Report for
year 1908 was given In V. 87, p. 8 6 8 , 876; see also paK®gQg®g7
ls)07
nA n'n lvj
Average miles operated.............................................
Total operating revenues........................................... 88 770 704
Operating expenses...................- ............................... Ji_ _ _ _ _
A m oun t
O u tsta n d in g
s o n ri^’I oa
fiospa’ofta
Net operating revenues................................................$35'5J2>603 5 2 0 ’123 ’n'?3
671,910
Other income................................................................
757,361
n,n
Total net Income_____________________________ $36,329,964 $30,465,743
Taxes ($3,244,596) rental of tracks & terminals ($71,186)----- $3,315,782
Intcrest on bonds-- . . . .
-— .... — -—
---------- - — 12,579,302
Hire of caulnmcnt ($611.477). advances to subsld. cos ($280,296) 891,773
Dlv — On pref.. 5% ($5,708,690), on com..5 a % ($5,662,607). 11.371.297
Fuel reserve fund ($81,378) add’ns A betterm’ts ($340,332)-421,710
Balance, surplus t o r year 1907-08--------------------------------------- $1,885,879
O ld B a s i s —
1906-07.
1905-06.
1904-05.
1903-04.
Average miles operated9,273
8,434
8,305
8,180
Grosse-irnlngs P
$93,683,407 $78,044,347 $68,375,837 $68,171,200
Net earnings
$34,815,506 $29,546,829 $22,858,453 $25,949,168
Total net In co m e'"III:$35.568.674 $30,893,230 $23,672,355 $27,197,942
OFFICERS__Act'ng Chairman of Exec. Com., Walker D. Hines; E.
P. Ripley, President: D. L. Gallup, Comp.; C. K. Cooper, Asst. Treas.
Directors.— Charles Steele, Edward_J. Berwlnd, Paul. Morton, H. TT.
logers
Dhn G
R a te
%
6g
4g
6 in 1909
6
5g
4>*
5 ff
4g
8 In 1908
5 cur
4
4
See text
See text
5 In 1908
4g
4g
4g
4
5g
4g
W h en
P a y a b le
A
OR D IV ID E N D S
W h ere P a y a b le, and by
W hom
B on d s— P r in c i
p a l, W h e n D u e
S to c k s — L a s t
D iv id e n d
A O New York and Atlanta Oct
1 1938
A D Standard Trust Co, N Y June 1 1953
July 3 1909 3%
A J Atlanta Ga
Company’s opt
do
J
A N Reading Terminal, Phlln May 1 1919
Apr 1 1930
do
do
A O
Apr 1 1948
do
do
O
July 1 1951
do
do
& J
June 10 1909 2%
Baltimore
Q —M
Irredeemable
J A I) In 1908 paid 5%
July 1 1909 2%
J A J In 1908 paid 4 %
Jan I 1925
J A J In 1908 paid 4 %
J A J Treas Office, Wllm, N C July 10 1909 3
July 10 1909 3
do
do
J & J
ay 10 1909 2 H
do
do
M & N
M & S United States Tr Co, N Y July 1 1952
M A N J P Morgan A Co, N Y Oct 1 1952
.1 & D Safe Dep A Trust Co,Balt Dee 1 1954
M A N Treas Office, Wllm, N C Irredeemable
M A S United States 'Tr Co, N Y Mch 1 1910
do
do and Balt To Mch 1 1917
M A S
J
J
J
M
A
A
J
657,000
6g J
.1
6
1 ,600,000
4g J
5,547,000
868,000
5g J
6g A
800,000
340,500 6 A 7 M
300,000
4^ g A
4,000,000 4 g A 5 g J
106,000
4g F
1,320,000
5 .? A
5g J
400,000
6,500,000 5 g A 6 g A
1.500.00C
7g J
4 g .)
1.407,000
5 tr M
2.800 00(
A J Cuyler, Morgan A Co,NY Jan 1 1933
A D First Nat Bk, NY; A Balt Junel 1910
A J Safe Dep A Trust Co,Balt July 1 1948
July 1 1926
A J Richmond Office
Oct 1 1926
do
do
& O
May 1 1915
do
do
A N
Apr 1 1940
A O Brown Brothers, N Y
A J First Nat Bk, NY; A Balt July 1 1935
& A Safe Dep A Trust Co.Balt Aug 1 1947
Apr 1 1939
A O Central Trust Co, N Y
&
J Safe Dep A Trust Co,Balt Jan 1 1946
A O United States Tr Co, N Y Apr 1 1934
Jan l 1936
do
do
A J
Jan 1 1938
& J
do
do
A N Metropolitan Tr Co. N Y Nov 1 1928
C o m m itte e f o r J o i n t C o lla ter a l N o te s a n d F i r s t 5s.— Geo. C. Clark, Chair
man; Geo. C. Clark Jr., Sec.; Trust Co. of America, N. Y., and American
Trust Co., Boston, depositaries. V. 8 8 , p. 623, 685, 943.
STOCK.— Authorized, $25,000 common and $10,000 5% hon-cu^mulatlyc
preferred per mile; par of shares, $100: Issued: common, $2;>,0 0 0 ,0 0 0 , pre
ferred, $1 0 ,0 0 0 ,0 0 0 . Of these $17,000,000 common and $5,600,000 pre
ferred deposited under collateral trust notes.
BONDS.— Of the 5s of 1906 ($30,000,000 authorized issue), $14,443,000
have been Issued, of which $5,006,000 Is deposited under coll, trust notes.
The collateral trust 5% notes ($8,000,000) sold In May 1906 are a Joint
obligation of the railroad and the Atlantic & Birmingham Construction co.
They are secured by deposit of $5,006,000 Atlanta Birmingham A Atlantic
first mortgage bonds and $5,600,000 preferred and $17,000,000 common
stock, and $1,026,000 equipment notes of the railroad, entire stock (S'MbOO,000) of Birmingham Coal & Iron Co., owning 35,000 acres of coal and J.ouo
acres of iron ore lands (subject to $4,159,000 bonds), and the entire stock
and bonds ($1,000,000 each) of Brunswick SS. Co. V. 82, p. 1267; V. 83.
1) . 3 5 . 1290; V. 84, p. 270: V. 85, p. 1404: V. 8 8 , p. 451, 503. Equipment
obligations July 1 1909 other than In table above, $170,000 5s, maturing
$10,000 quarterly (Q.-M.) to March 1 1914.
.
.
1 controlled
1918companies, the Georgia Terminal Co., Alabama Terminal
'Phc
RR., Birmingham Coal & Iron Co. and Brunswick SS, Co. were placed In
receivers’ hands In Feb. 1909, their bonded debts being respectively
S3 000,000, $2,445,000, $4,159,000 (Including $2,000,000 of Birmingham
Iron Co.) and $1,000,000. V. 84. p. 1427, 1551: V. 85, p. 470; V. 8 8 ,
p. 156, 451, 503, 563.
LATEST EARNINGS.) 1908-09.........-Gross, $1,911,283; net, $359,794
1 1 mos., July 1 to May. 31J 1907-08____ (iross, 1,449,239; net, 354,368
REPORT for year ending June 30 1008 In V. 80, p . 1284, showed on 491
miles gross. $1,583,805: net, $426,663; other Income, $136,689; Interest,
taxes’, & c ., $518,714; bal., sur., $44,637. See also V. 8 8 , p. 227. (V. 8 8 .
p. 9 4 3 , 1196, 1497, 1559; V. 89, p. 40, 102, 223.)
ATLANTA & CHARLOTTE AIR LINE RY ,— (S e e M a p S o u th e r n R a ilw a y
S y s t e m .)— Owns Charlotte, N. C., to Atlanta, Ga., 263 miles.
The operating contract of 1881 accepted by the Southern Ry. requires the
navment of Interest on At. & C. debt and 5 % on stock: If gross earnings ex
ceed $1,500,000, dividends to be 6 %, and If they exceed $2,500,000, 7 %.
In 1907 the bonds (three Issues) were extended 3 years. V. 83, p. 1347.
Stock largely deposited with a committee, W. Emlen Roosevelt, Chairman
(U. S. Mtge. & Trust Co. depositary), until May 1 1910, to prevent Increase
of mtge. debt unless stock Is recompensed V. 83, p. 1410.
t o ’89. 1890. 1 8 9 1 to Mch.’01 Inch
Since
DIVIDENDS,
Percent—
} 5 yearly.
5
6 yearly (MAS). 7yrly.(MAS)
EARNINGS.— For year ending Feb. 28 1907, gross, $4,169,423 against
$3,975,698 In 1905-06. Pres., C. S. Fairchild, N. Y.— (V. 83, p. 1410.)
ATLANTA & ST. ANDREWS BAY RY.— Owns from Dothan, Ala., to
Panama City, Fla., on St. Andrews Bay, Gulf of Mexico, 8.) miles, opened
July 15 1908. Stock authorized, $1,000,000; outstanding $3 0 0 ,0 0 0 , jiar.
510,100, ill luresb UII UOUUH,
U«1.» «»*■>
Steele, Atlanta, Ga.; Sec., G. H. Purvis, Dothan, Ala.
ATLANTA TERMINAL CO -O w ns union passengerstatlon opened
M'W l-l 1905 with approaches, used by Southern Hy., C-intiai ot Deor^ui
n v and Atlanta & «
Point RR
Stock. $150,000. owned la equal pro
portions by the three companies named, whleh pay all charges and ex
penses on car basis. V. 76, p. 593, 1394; V. 77, p. 699, \ . 88, p. 1196.
ATLANTA & WEST POINT RR — Atlanta. Ga., to Wert J o in t, G»
5 « . W
^
rentaf of
$10,000 yearly— 4% on Its cost. V. 71, P* 003 V. 73» P*
DIVIDENDS begun In 1855 were for many
Fr,om
July 1 1884 to July 1901 Inclusive, 0% yearly, J & J. y cl ■1A9”9T*20 /oextra;
j 902 (?); 1903, 0%; 1901 to 1908, 6% yearly, 1909, Jan., 3 /0, July, 3% .
in 1907-08, gross. $1,151,791; net, *235.380: other Income, $44,631;
charges, $160,652; d\vs., $73,932; surp., $45,433. (V. 71, p. 963.)
A T I ANTIC CITY
—Camden to Atlantic City, 57 m. (double track
branches, Winslow Junction to Cape May. N* J.. 5S m.* VVllll^stown. 23
m.; Gloucester, 12 m.; Sea Isle City. ^ m.; Oc^in City. 10 i., total, 108 m.
$ 1 , 5 0 0 , 0 0 0 anti $3,000,000 stock, respectively, all owned by the railroad V 72, p. 127S. STOCK, com., $2,625,000, pref., $1,000,000 (par, $;>0).
Reading
Co. owns
99% of stock.
^ » ran^'th
e latter,
iatter4SSmV™ (Poll
Interest,
l-ormover
of guaranty.
V . 7,>,a"p.d.13U8.
ur the
$„,6,>0.000
aiou
/O 1w.............. v ‘ , 7--- ■' , ’ and
are reserved to retire prior lien bonds. See_ V. 73, p. 81. I here are also
p. 1204: V. 88, p". 156, 227. Brunswick SS. Co. operates between New outstanding
$23,500 Sea Coast RR. series A os and $<.,834 series B 5s.
York, Brunswick and Havana, Cuba. V. 87, p. 610.
EARNINGS.— 11 mos.,11908-09-------- Gross, $1,438,299: net, $265,431
RECEIVERSHIP.— On Jan. 2 1909 receivers were appointed, the Jan.
July 1 to May 31.
\1907-08 _____ Gross, 1,.>64,793; net, 23o,03b
1909 coupon on the first 5s of 1906 being defaulted. V. ISo, p. 9J, 156—see
For year ending June 30 1907, gross, $1,925,824: net, $274,301: fixed
table above. The receiver’s are now President H. M- Atkinson and S. F.
Parrott. V. 88, p. 821. See President’s report of Jan. 5 1909, with opln- charges and taxes, $304,138; balance, delicit, $29,777.— (V. 82, p. 7o0.)
Ions of experts, Ac. V. 88, p. 227. $3,250,000 2-year 0% receivers cer
I ANTIC COAST I 1NE
CO— Organized May 29 1889 Under
tificates were sold to replace 19-mlle trackage Into Birmingham and build theA Tlaws
of Connecticut, and owns a majority of capital stock and a
Bessemer branch, Ac. V. 88, p. 1497, 1559; V. 89, p. 40, 102, 223. L’lie
large
amount
of
the
bonds
of
the
Atlantic Coast Line RR. below.
coupons due .May 1909 on the joint coll, notes were purchased by private
parties; the Nov. 1908 coupons were paid by the co. V. 88, p. 1196.
was
p?5^4;Svi
3^0** InC18M^{5|oO?,oVo^8Uwk^wSi
GeneraJ. C o m m itte e .— A general committee, consisting of Edwin S. Marston
(Chairman), Frederick Ayer, Samuel Carr and John I. Waterbury, requested distributed as a 100% dividend (V. 07. p. 9S4), and In 1900 *10.000.000 4
certificates of Indebtedness (Including $2,500,000 of Atlantic Coast Line
r r . Co.), as a 100% dividend.
(V. 71, p. 69;; V. 73, p. 493.) As to
securities pledged to secure equally the certificates of Indebtedness, see V.
1 7 , p. 1310; V. 83, p. 500. Bal. sheet 1908, V. 87, p. 1083.
Co., N. Y), and Old Colony Trust Co., Boston”. V. 88, p. 1106.
CASH DIVS.l ’99. ’00. ’01. ’02. ’03. ’04. ’05. ’06. ’07. ’08.
1909.
C o m m itte e f o r F ir s t 5s.— A protective committee consisting of S. H. Fes
4 'A 6 K> 8 8 9
10 1°
» 2 ,2 ,( — )(—
senden, Philip Stockton and F. IT. Farrar In Jan. 1909 requested deposits Per cent___ I 4H 5
Chairman,
Henry
Walters.—
(V.
87.
p.
1083
first
5s;
City
Trust
Co.
of
Boston,
depositary.
V.
88,
p.
99,
t;>7,
684.
ot
S.^Gleed". Topeka; IT. C. Frick, Pittsburgh.
OFFICE.— 5 Nassau St., N. Y. -(V. 88, p. 1559; V. 89, p. 40, 223.)
ATTANTA R1DM1M6HAM Sc ATLANTIC RR.— Brunswick, Ga., to
J u ly , 11)09.]
RAILWAY STOCKS AND BONDS.
13
[VOL. LXXXCX,
RAILWAY STOCKS AND BONDS,
14
IN T E R E S T
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . . s e e n o te s
o n f i r s t p a g e o f ta b le s.
M ile s
of
R oad
D a te
of
Bonds
244 1895
Atl Coast L RR ( C o n c l ) — Florida So 1st M gold.AB.c*
145 1894
Sanford A St Petersburg tlrstmtge gold..............PeP
4 1877
Ashley River tlrst mortgage................................... —
64 1888
Sll Sp O A G 1st M gold (Ocala to Inv A br)._Ta.c*
275 1090
Atlantic & Danville— 1st M $4,425,000 g lnt rcnt.Mec*
275 1004
Second mortgage $1,525,000 gold Interest rental-Ta
_
Atlantic & North Carolina— Stock $1,800,000----------95 1887
First mortgage $325,000------------------------------- MeBa
107
Atlantic & St Lawrence— Stock 6 % rental Grand Tr’k
10 1903
Atlantic & Western— First rntge $3,000,000 gold..IB
53
Augusta & Sa vannah— Stock 5 % rental Central of Ga
Augusta Southern— First consol rntge gold----- Ce.xc
82 y3 1894
__ 1903
Augusta Union Station— First M $250,000 gold— SB
Avon Geneseo & Mt Morris RR— Stock (see text)-----... —
Bald Eagle Valley— See Pennsylvania RR...................
Balt & Annap Short Line— See“ ElcctrlcRallway” Sec.
88 1894
Baltimore Chesapeake & Atlantic— 1st M gold-.Mp.c*
Balt & Cumberland Val Ry— 1st M Interest rental----3 1879
Balt & Cumberland Val RR— 1st M Interest rental----5 1879
B & C V RR Exten— Stock gu ($270,000 carries 7%)
First mortgage Interest rental------------------------- Ba
27 1881
Baltimore & Harrisburg RR— Mortgage gold.AleBa.c*
32 1886
First M West Ext ($10,000 p m) gold guar.AleBa.c*
15 1888
__ ___
Baltimore & Ohio— Common stock $152,750,000_____
__
Pref stock 4% non-cum authorized $60,000,000___
Prior lien rntge gold not subject to call----- Me.c*Ar 1,076 1898
First M gold redeem at 105 after 1923----- Us c*Ar 1,657 1898
Southwestern Dlv 1st M $45,000,000 gold__ F.cA*r
030 1899
Pitts June & Mid Dlv ($20,000,000) 1st M g_Ce.c*Ar
384 1898
P LE & VV V Sysref g red 100 after 1025.. Un c* Ar 1,042 1901
New York DlvATerm tlrstmtge $10,000,000 gold.
1905
Conv debentures gold redeem (see text)----------------. . . 1901
B o n d s U n d er ty in g F i r s t M o r tg a g e
S iz e, or
Par
V a lu e
A m oun t
O u ts ta n d in g
R a te
%
$1,000 $2,418,000
4g
4e
275,000
1,000
8
33,500
1.000
492,000
4g
1,000
3.925,000
4g
1,525.000
1,000
4g
100
1,797,200 See text
6
325,000
1,000
6
e a $100
5.484,000
2,000
1,000 Ac
5g
5
100
1,022,000
400,000
1,000
5g
225,000
1,000 Ac
4g
225,000
3H
100
W h en
P a y a b le
J A J United States Tr Co, N Y
do
do
J A J
J A J People’s Bk, Chast’n.SC
J A J United States Tr Co, N Y
J A J Mercantile Trust Co, N Y
J A J Trust Co of America, N Y
Seml-an Check from Co’s Office
J A J Nat Mechanics’ Bk, Balt
M A S London and Portland
J A J International Tr Co, Bost
J A .1 Savannah, Ga
J A D J P Morgan A Co, N Y
J A J Safe Dep A Trust Co,Balt
J A J Erie Railroad, New York
1,250,000
5g M
6
48,600
J
6
72 800
,T
390 ,000 5 A 7 ,)
6
230 j)00
J
690,000
5g M
240,000
5g M
152,175,829 0 In 1909 M
60,000,000 4 In 1909 M
74,823,000
3H g J
74,977,000
4g A
44,996,000
3X gJ
10,175,480
g
43,260,000
4g M
J
139,000
1,000
4g M
1,000
500
100 Ac
50
1,000
1.000
1,000
100
100
500 Ac
500 Ac
500 Ac
500 Ac
1,000
W h ere P a ya b e , and by
W hom
&
A
A
&
A
A
A
A
A
A
A
A
z
A
A
A
S Broad St Station. Phlla
J Farm A Mech Bank, Balt
do
do
J
J
do
do
do
do
J
do
do
N
do
do
N
S Co’s Office, 2 WallSt.NY
do
s
do
do
do
do
do
Oil
do
do
J11
do
do
do
N
do
do
D
do
do
S
do
Loan 1853 extended In 1885 gold_________________
377 1853
112.500
500 Ac
do
4g A A o
__ 1868
Pittsburgh & Con 1st M extended In 1890 In gold__
58,000
4g J A J
1,000
do
®In addition $7,635,050 are pledged as part colla terml f or the Pitts bur gh Lake Erl e A West Virginia Sys.4s.
UReg Interest Is Q-J
ATLANTIC COAST LINE RR.— (See M a p . ) — Operates from Richmond
and Norfolk, Va., on the north, to Fort Myers, Port Tampa and River Jet.,
Fla., on the south, and Montgomery, Ala., and Augusta, Ga., on the west,
reaching the ports of Norfolk, Va.; Wilmington. N . C.; Charleston. S. C.;
Savannah and Brunswick, Ga.. and Jacksonville and Port Tampa. Fla
L i n e s o w n e d . & c . — ( C o n .)— M i l e s .
L i n e s o w n ed a n d tr a c k a g e — M i l e s .
Paola Jet. near Sanford to St.
Richmond, Va., to Port Tampa,
Petersburg, Fla------------------- 145
Fla............................................... 906
Palatka, Fla., to Brooksvllle.. 145
Norfolk, Va., to South Rocky
Mount_______________________ 115 Mllldale, Fla., to Perry_______ 163
Contentnea to Wilmington---------105 Branches, Ac-------------------------- 1,503
L ea sed —
Wilmington. N. C., to Pee Dee
Junction____________________ 97 Central RR. of So. Carolina—
Lane to Sumter, S. C_______
40
Florence, S. C., to Augusta, G a..l66
13
Sumter to Columbia______________ 43 Other lines___________________
Yadkin Jet. (Wilmington, N. C.)
Total In earnings___________ 4,403
to Sanford___________________ 116
Waycross, Ga., to Folkston, G a.. 34 C l o s e ly a llie d lin e s (see each co.)—
Jesup, Ga., to Montgomery, Ala.354 Louisville A Nashville ............... 6,970
Brunswick, Ga., to Albany______ 169 Charleston A Western Carolina. 341
71
Dupont Jet. to Fort Myers. Fla..349 Northwestern RR. of So. Car..
Also owns one-sixth Interest In the Richmond-Washington Co. Leases,
Jointly with the Louisville A Nashville RR., the Georgia RR.. 571 miles.
In July 1909 agreed with Norf. & West, to build Jointly Winston-Salem
Southbound RR., Winston-Salem, N. C., to Wadesboro, 87 miles.V.89,p.161
ORGANIZATION.— Originally the Atlantic Coast Line of Va. (change of
name being authorized April 23 1900); April 18 1900 absorbed by consolida
tion (per plan V. 70. p. 840,893) the following allied properties: Wilming
ton & Weldon RR., Atlantic Coast Line railroads of South Carolina and
Virginia and Norfolk A Carolina RR. The Florida Southern and Sanford &
St. Petersburg were merged April 1903, the $4,241,000 1'la. So. 4s and $775,
000 Sanford A St. Petersburg 4s being offered the privilege of exchange for
90 % In Atlantic Coast Line consol. 4s. V. 76, p. 918, 971. The Atlantic
Coast Line Co. (of Conn.) owns $24,257,000 com. and $1.009,300 pref. stock.
See that co. above. V. 70, p. 893; V. 71, p. 1116, 1310; V. 83. p . 560.
Savannah Florida & Western Ry. (“ Plant System ), which owned and
controlled 2,235 miles, was merged July 1 1902. V. 74, p. 774, 829.
In Oct. 1002 acquired $30,6 0 0 .0 0 0 of the $60,000,000 Louisville A Nash
ville RR. stock for $10,000,000 cash, $35,000,000 In 4 % collat. tr. bonds
and $5,000,000 stock. V. 75, p. 733, 792, 905; V. 79. p. 785.
STOCK.— Atl. Coast Line of Va. class A (Rich. & Pet. ctfs.) tax-exempt
stock was assumed as so much of the com. stock of the new company.
In Nov. 1902 $5,000,000 com stock was given In part payment of con
trolling Interest In Louisville A Nashville stock. $8 500.000 additional being
subscribed for at $125 per share. In Nov. 1904 $7,330,000 com. stock was
Issued as a 20% scrip dividend. V. 79, p. 2204; V. 75, p. 1252.
Stockholders voted Mch. 8 1906 to Increase the total authorized stock to
$60 000,000; of the new stock (all common), $4,557,600 was subscribed for
by stockholders at par In May 1906. raising the amount of com. stock out
standing to $48,537,000 (Includingclass " A ” stock). V. 83, p. 490. 1295.
The pref. stock ($18,850,000) was In 1902 mostly exchanged for 125% In
4% certificates of Indebtedness. V. 75, p. 1252.
DIVIDENDS (% )— ’00. ’01. ’02. ’03. ’04. ’05. ’06. ’07. 1908. 1909.
Com (Incl. Glass’’A’’)- - - ZV i 3t$ 5
5 «5
6
6 Below. 5)S
Preferred (M A N ) . . . 2 M S
5
5
5 5
5
5
5
5
a Also 20 % In com. stock scrip and 5 % In Atlantic Coast Line Co. 4 %
certificates of Indebtedness. V. 81, p. 1558. In Jan. 1908 3% was paid In
Atlantic Coast Line UR. 4"t certificates of Indebtedness; In July, 2 y , %
cash; 1909, Jan., 2 H % ; July, 3%.
BONDS.— First consol. 4s of 1902 (S80.000.000 auth.. limited to $20 000
per mile) are a first lien on 1,017 miles of road and a blanket lien on 2,927
m. owned, subject to the underlying bonds. The tlrst consols were Issued or
reserved as follows:
Issued for refunding. Ac., V. 75, p. 76: V. 77, p. 1872; V. 78,
p. 819; V. 81 p. 263; V. 88, p. 623, 881, 1126 (of which
$2,580,000 In treasury)..________ _________________________ $50,468,450
Reserved to take up underlying liens------------ ------------------------- 28,673,250
Reserved for extensions. Improvements and equipment--------858,300
As to the $35,000,000 collateral tmst 4s of 1902, see “ Organization”
above. They are subject to call at 105 In amounts not less than $100,000.
There were outstanding also June 1 1909 $56,000 Brunswick A Western
Income bonds and $167,000 Jacksonville & Southwestern freight certificates.
In 1907 Issued $4,500.000 4 % equipment trust bonds; also $5,000,000 5 %
straight 3-year gold notes. V. 84, p. 219, 506.
The Washington A Vandemere 4 Hs ($1,500,000 authorized, of which
$720,000 outstanding) are guar. p. & 1., by endorsement. V. 84, p. 1248.
LATEST EARNINGS.— 11908-09..Gross, $24,111,047; net, $7,593,603
11 mos., July 1 to May 31 J1907-08--Gross, 24,100,086: net, 5,523,885
For 6 mos. ending Dec. 31 1908, net (after taxes), $3,448,299, agst.
$2,756,198 In 1907; other Income, $1,261,636; fixed charges, $3,131,043;
dividends (2H % ), $1,253,355; bal., sur., $325,537.
REPORT for year ending June 30 1908 at length, V. 87, p. 1354, 1362
(edit. p. 1329). Comparisons inaccurate, owing to changes In accounting).
1907-08.
1906-07.
1905-06.
Gross receipts........................................$26,029,052 $26,771,528 $24,868,448
Operating expenses and taxes............. 20,043,794 20,442,027 16,892,199
Net receipts from traffic....................$5,985,258 $6,329,501 $7,976,249
other Income......................................... 1,463,376
837,428
729,934
Dividend on L. & N. stock ......... (5)4)1,683,000 (6)1,836,000 (0)1,836,000
Total net receipts............................ $9,131,634
$9,002,929 $10,542,183
Interest on bonded debt, Ac------------ 5,359,313 $5,022,208 $4,862,448
lnt. on certs, of Indebtedness---------862,754
862,766
862.792
Hire of equlpt. & term, rents.............
128,420
_ _
Dividend on common stock.......... (5)4)2,669,540 (6)2,912,250 (6)2,638,800
Dividend on preferred stock (5% )—
79,830
79,830
79,830
Balance, surplus.
$31,777
$125,869
$2,098,312
B on d s— P r in c i
p a l, W h e n D u e
S tock s— L a st
D iv id e n d
Jan
Jan
Jan
July
July
July
July
July
Mch
Jan
July
Dec
July
July
1 1945
1 1924
1 1915
1 1918
1 1948
1 1948
10 '09
1 1917
1909 3%
1 1944
0 1909 2 H
1 1924
1 1953
1 1909 1 «
Sep 1 1934
July 1 1929
July 1 1929
July 1 1909
July 1 1931
Nov 1 1936
May l 1938
Sept 1 1009 3%
Sept 1 1900 2 %
Juiy 1 1925
July 1 1948
July 1 1925
Nov 1 1925
Nov 1 1941
June 1 1048
Mch 1 1911
Oct 1 1935
do
Muly 1 1946
do
* CouponsM & N; reg lnt Q-F.
OFFICERS.— Chairman of Board, Henry Walters; Pres., T. M. Emerson;
1st Vlce-Pres.. Alexander Hamilton: 2d Vlce-Pres.. C. S. Gadsden: 3d VlcePres., J. R. Kenly; Gen. Mgr., W. N. Royall; Sec.. Herbert L. Borden;
Trcas., James F. Post.— (V. 88, p. 1312, 1559; V. 89, p. 161.)
ATLANTIC & DANVILLE RY — (S e e M a p S o u th e r n Ry.)— West Nor
folk to Danville, Va., 203 miles, three branches, 22 miles: James River Jet
to Claremont (3-ft. gauge), 51 m.; total, 275 m. Leased to Southern Ry.
from Sept. 1 1899 to July 1 1949 for taxes, repairs, maintenance and cash
rental sufficient to cover lnt. charges, with privilege of renewals for terms of
99 years. In addition the Southern Ry. agrees to pay the same rate of divi
dends on com. stock as paid on Its own com. stock. V.71,p.447; V.79,p.625.
STOCK.— Com., $2,180,000. Pref. shares were canceled prior to July 1
1904. See V. 71, p. 181,862; V. 73, p. 722, 956; V. 79, p. 025.
BONDS.— Of the $4,425,000 4s of 1900, $500,000 can be Issued only for
Improvements upon request of Southern Ry.. Interest charges to be covered
by Increased rental. Of the $1,525,000 second 4s. the remaining $750,000
were issued July 1 1909. V. 77, p. 195.— (V. 79. p. 785, 967.)
ATLANTIC & GULF SHORT. LINE.— See V. 73, p. 615; V. 70, p. 1354.
ATLANTIC & LAKE SUPERIOR RY.— V. 87, p. 740.
ATLANTIC & NORTH CAROLINA RR.— Morehead City to Golds
boro, N. C., 95 miles. State of North Carolina owns $1,266,500 of
$1,797,200 stock. Leased from Sept. 1904 to Jan. 1 1996 to Atlantic A
North Carolina Co. (the lease being later transferred to Norfolk A Southern
Ry.) tor Interest on bonds, taxes, Ac., and dividends at 3% yearly for
20 years, Increasing )4% yearly every ten years until 5% Is reached;
thereafter, 6% : lessee also agreed to expend $250,000 by Sept. 2 1907
for Improvements and equipment. V. 79, p. 967.
DIVIDENDS.— ’93. ’94. ’95. ’96. ’97. ’98. ’99. 1900-04. Under lease.
2 2 0 2 2 2 2
0
See above.
Per cent__________
EARNINGS.— For year ending June 30 1906, gross, $407,694; net. $154,-'
739; other Income. $7,246; lnt., taxes, Ac., $105,607; dividends. $53,916;
bal.. sur., $2,462. Pres., Frank S. Gannon.— (V. 83, p. 1590, 1522.)
ATLANTIC QUEBEC & WESTERN RY.—V. 86, p. 167; V. 87, p. 1418.
ATLANTIC VALDOSTA & WESTERN RY.— See Georgia So. A Fla. RR.
AUGUSTA & SAVANNAH RR — Mlllen to Augusta, Ga., 53 miles. In
1895 re leased to Cen.of Ga. for 101 yrs. at 5 % on stock.— (V. 61. p. 239.)
AUGUSTA SOUTHERN RR.— Owns from Augusta to TennlUe, Ga., 82
miles. The Southern Ry. in Jan. 1901 acquired about four-fifths of stock.
V. 73, p. 343. Com. stock, $400,000- pref., $350,000; par, $100. Year
ending June 30 1908. gross, $167,318; net, $20,905: charges, $28,939;
balance, deficit, $8,034.— (V. 80, p. 2219, 2456.)
AUGUSTA UNION STATION CO.—Owns union passenger station at
Augusta, Ga., used by all roads entering the city, the latter under their op
erating contract providing for Interest on the bonds and 4% dividends on
stock. Stock, $75,000 (5% paid In), held equally by Southern Ry.. Atlan
tic Coast Line RR. and Georgia RR. V. 78. p. 2333; V. 79, p. 500.
Pres.
Thos. K. Scott: Sec. and Treas.. Carlton Hlllyer.— (V. 82, p. 48.)
AUSTIN & NORTHWESTERN RR.— See Houston A Texas Central Ry.
AVON GENESEO & MT. MORRIS RR — Mt. Morris to Avon, N. Y ., 18
miles. Leased to Erie RR. Feb. 26 1896 In perpetuity; rental (after 1901),
3 y i % o n stock.— (See V. 63, p. 512; V. 62, p 318, 589.)
BAINBRIDGE NORTHEASTERN RR.—V. 86, p. 720. 980.
BALD EAGLE VALLEY RR.— Merged In Penn. RR. In 1008.
BALT. & ANNAPOLIS SHORT LINE RR.—See “ Electric Ry. Section.”
BAI.TIAVORE CHESAPEAKE A ATLANTIC RY.— Owns Claiborne
to Ocean City, Md.. 87.66 m.; from Claiborne to Baltimore, 44 m., transfer
Is made by water; steamer lines owned, 1,134 m.; total mileage owned
and operated, 1,221.66 m. Controlled bv Pennsylvania RR. and allied
lines. V. 69, p. 5 41,590; V. 59, p. 371. Pref. stock, $1,500,000 5 %cum.;
com.. $1,000,000. Dlv. on pref., 2% Mch. 1 1905; In 1906. Mch.. 3 %;
Oct., 2% ; In 1907, March, 3%; Sept., 2% ; none since to Oct. 1908. Claim
of minority stockholders for larger dividends, V. 87, p. 284.
The stockholders voted on Jan. 26 1905 to acquire a majority of the stock
of the Maryland Delaware A Virginia Ry., extending from Queenstown,
Md., to Lewes, Del., with branches, a total of 77 m., and guarantee $2,000,
0 0 0 of Its first rntge. bonds. See that co., V. 80, p. 116, 1058.
Fiscal year now ends Dec. 31. Report for year ending Dec. 31 1900 In
V. 84. p. 1302. In 1908. gross, $980,975: net, $198,077; other Income
510,080; charges and Improvements, 8162,540; dividends (2% ). $30,000;
balance, surplus, $15,616 — V. 84. p. 1302; V. 87, p. 284.)
BALTIAIORE & CUMBERLAND (RR. AND RY.).—The R a ilr o a d ex
tends from State Line, Md.. to Waynesboro, Pa., 4.55 miles; stock, $76,700,
in $50 shares. The R a ilw a y extends from Edgemont, Md.. to State Line,
Pa.. 3 m. stock. $42,500. In $100 shares. Both are leased to Western
Maryland RR for 50 years from July 1 1879, with privilege of renewal or
purchase: rental, Interest on bonds.
BALTIMORE & CUMBERLAND VALLEY EXTENSION RR.— Waynes
boro to Shlppensburg, Pa., 26.52 miles. Leased to Western Maryland RR.
for 50 years from July 1 1881, with privilege of renewal, for Interest on bonds
and dividend on stock, amounting In all to $38,730. Sec table above and
V. 75, p. 665.— (V 75, p. 665.)
BALTIAIORE & HARRISBURG RR.— Emory Grove, Md. to Orrtanna,
Pa.. 59 m., with branches, 7 m., total, 00 m. Leases Balt. A Harrisburg Ry.
Western extension, Orrtanna to Hlghfield, 15 m., guaranteeing Intereston
Its bonds. Leased to Western Maryland RR. for 50 years from Oct. 25
1880; rental. Interest on bonds and 5% on pref. stock (all paid M A N).
Stock, com., $690,000; pref.. $29.100.— (V. 44, p. 812.)
BALTIMORE & OHIO RR — (S e e M a p . ) — ROAD.— Operates from Balti
more to Philadelphia and Baltimore to Chicago, Cincinnati and St Lovls:
total mileage leased, owned and operated In July 1908. 3,992 miles. “ Royal
Blue Line” (see Central RR. of N.J.) gives access to New York
BONDS.
AND
STOCKS
R A IL W A Y
J c l y , 1909.,
IN T E R E S T
R A IL IIO A D S
,
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , f t c . s e e n o te s
o n f ir s t p a g e o f ta b les
B a ltim ore & O h io (C o n c lu d e d ) —
C en t O h io $ 2 ,5 0 0 ,0 0 0 c o n 1st M (1st loan) g .M e B a .c
P itts b u rg h J u n ction 1st M $1,4 4 0 ,0 0 0 g o ld .- r t le .c *
P itts Ju n e 2nd M $30 0,00 0 g o ld ...................... rtle.c*
B on ds
[VOL. LXXXIX
RAILWAY STOCKS AND BONDS.
1(1
I 'n d e r l y l n g P itts b u r g h L a k e E r i e
M ile s
of
R oad
144
7
D a te
of
B onds
1886
1882
i
1894
W e s t . V ir g in la 4*
S h e . or
Par
V a lu e
A m ount
O u ts ta n d in g
$1,000
1,000
1,000
$1,009,000
0959,000
a 2 5 0 ,000
192
192
102
88
30
72
172
209
33
11
77
30
215
3
176
1893
1896
1900
1895
1889
1900
1886
1887
1890
1892
1882
1878
1887
1892
1890
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,()()()
1,000
1 ,000
1,000
100 ftc
1,000
1,000
i ,000
5 ,0 0 0 ,0 0 0
890 ,000
950 ,000
3 ,3 0 2 ,0 0 0
7 00 ,000
228 .000
2 ,000,000
2,941 ,000
376 .000
303 ,000
441,000
82,100
650 ,000
300 ,000
3 ,9 4 3 ,0 0 0
B a lt ft N ew Y o r k R R 1st m tg e g o ld g u a r.rtle B a .c& r
M on R iv e r Coal M $ 1 ,5 0 0 ,0 0 0 g o ld s f redeem at par
S ch u v lk lll R iv e r E S R R 1st M gold guar p & . e n d .
S ta ten 1st R a p T ra n 1st M $ 1 .000,000 g $ o r £ _ U s .c *
5H
1,000
i
i
1,000
50,000
672 ,000
5 ,0 0 0 ,0 0 0
1,000,000
S ta ten Island R y first m tg e $ 1 ,0 0 0 ,0 0 0 g o l d . - rtle c*
B a ltim ore & P o to m a c — See P h lla B a lt & W a sh in gton
B a n g or & A r o o s t o o k — S to ck (see t e x t ) . - .......... ——
First m ortg a g e ($ 16,000 per m ile) g o l d .......... G .c*
S econ d m o rtg a g e g o l d .......... - ................ - .U s n i
First m ortg a g e P isca ta q u is D iv $ 1 ,5 0 0 ,0 0 0 g - . l i . c *
V B u r E x ten sion first m o rtg a g e $50 0,00 0 g o l d .G .c *
A r o o s t o o k N orth ern first m tg e $ 2 2 5,00 0 g o l d - - G .c *
C on sol r efu n d in g m ortg a g e $20 ,0 0 0 ,0 0 0 g — O B .c*
M ed ford E x ten sion 1st M $ 1 .0 0 9 ,0 0 0 g o l d ---- U s.c*
A r o o s to o k C o u n ty b on d s (a s s u m e d ) ---------------;
N orth Maine S eap ort 1st M £uar p & l
. U s m .c * & r
a ‘ ‘ T o ta l Issued” show n In fleet left hand c o lu m n ,
13
1889
1895
1903
1883
11)05
1893
O lev Lor & W h eel c o n s M (n ow 1st) g o ld .-U s m .c *
G eneral m o rtg a g e 51,0 0 0 ,0 0 0 g o ld redeem 1 0 5 . N.c
C on s ref M $ 1 0 ,0 0 0 ,0 0 0 gold red at 1 0 2 ^ - - T a . c *
C levela n d T erm & V a lley 1st M gold g u a r .-A le .c * &r
M on on g a h ela R lv R R 1st M gold guar B & O . _ C e.c*
O h io ft L ittle K an R y 1st M $25 0,00 0 red 105 gold
O h io R iv e r first m o rtg a g e ($ 2 ,0 0 0 ,0 0 0 ) g o l d .- F P .c *
G eneral m ortg a g e ($ 3 ,0 0 0 ,0 0 0 ) gold 1st on 39 m e*
R a v Sp & Gt 1st. M $40 0,00 0 g guar p & L . F P .c *
H u n tin g to n ft B ig S 1st M ($400,000) g g u a r -_ c *
P itts b u r g h C levelan d ft T o le d o first m o rtg a g e g o ld .
P itts b u rg h N ew castle ft L E 1st M e x te n d e d In gold
P itts b u r g h ft W estern 1st co n s M $ 10 ,000 ,00 0 g - . c *
E llw o o d S h ort L ine first m tg e gold $ 3 0 0 ,0 0 0 .-_ O
W V a &P 1st M gold 5s scaled ; red at p a r -.r t lc B a .c *
L e a s e d L i n e s , & c . . S e c u r itie s
BALTIMORE & OHIO —
12
11
,0
,00
00
0
1,000
__ ___
211
211
77
33
15
412
28
__
54
halane
511 ,000
4H g M
6 g
5 g
J
J
5 g
5 g
A
J
g J
M
F
M
J
A
F
J
A
J
J
J
A
4M
4
5
5
5
5
6
6
0
4
4
5
4
g
g
g
g
g
g
g
%
£
£
£
£
5£
5 £
4 £
6 g
(S e e M a p ) — (C o n c lu d e d .)—
nrirn- lien and S W Div. 3 Hs, were sold, and in Feb. 1909 $13,100,000 Pitts.
L E .& W .V a . div. 4S. V. 86, p. 1528; V. 87, p. 36; V. 88, p. 451.
DIVIDENDS. 1900. 1901. 1902. 1903. 1904. 1905. ’06. ’07. ’08. 1909.
Common ( % ) - - - - 2
4
4
4
4
4ya
:>y,
6 6
6
Preferred (%) . . . 4
4
4
4 4 4
4
4 4
4
BONDS__(1) P r i o r L i e n 3 H % > a first lien on main line and branches,
Parkersburg branch and Pittsburgh division, about 1.076 miles of first track
and 1 325 miles of second third and fourth tracks and sidings, and also all
the equipment now owned of the value of upwards of $20,000,000, or here
of fer^acqidi^iL^Lt'dauthorlzed, W ». 0 0 O.O0 O. Sob anplka.lon to list,
V. 69. p. 30; V. 78, p. 1906; V. 86, p. 1528, \ . 86. p. 36.
(2) F i r s t M o r tg a g e 4% C o in B o n d s . D u e J u l y 1 1948 but subject to call,
In whole or In part, after July 1 1023, at 105; a first lien on the Philadelphia,
Chicago and Akron divisions and branches and tl?e.
0¥ °r?ap
[ILt°'VI} *
Pittsburgh RR., covering about 581 miles of first track and about 573 miles
of second third and fourth tracks and sidings; also on the B. A O. Terminal
property and the Baltimore Belt RR. They are also a lien subject to prior
lien mtge , upon main line,&c. See app. to list, V. 69. p- 30, V. 79. p 211.
Total authorized (Inch $49,075,000 Issued at reorganization)..$165,000,000
Of which reserved to retire prior lien bonds in 1925 --------- 75,000,000
Issued and Issuable for betterment or extension of the prop
erties covered by mortgages (1) and (2), or t o r extensions,
additions or equipment; at not exceeding $1,500,000 a
year for the first four years and at not exceeding $1,000,000
a year thereafter, originally...............— .................... - - 27,000.000
(3) S o u th w e s te r n D iv i s io n 1st M o r tg a g e 3 M s . Virtually a first
lien upon the properties constituting the B. ft O. South
western RR. system, or the securities representing the same,
covering about 930 miles of first track and about 401 miles
of second track and sidings. All Issued...........- - - - - - - - - - - - 45,000.000
(4) B f t O P i t t s . J e t . & M i d . D l v . Z M s . Expected to be ultlmatelv a’ first Hen upon the railroads of the Central Ohio sysbmi and Pitts. Jet. RR. Co.. 385 miles In all. Total........... 20,000,000
Of which to be Issued only at the rate of not exceeding $1,000,
000 per year for the first two years and thereafter at the
rate of not exceeding $500,000 per year, for the enlarge
ment. betterment orextenslonof the properties covered-5,000 000
Of which In partial exchange for old bonds------- ---------------- 10,569,000
Sold to a syndicate for cash requirements...............................
4,000,000
M
J
J
A
4H g J
11)0
2 ,510,000 4 In 1909
1893
1.000
3 ,3 6 0 ,0 0 0
5 g
1895
1.000
5 £
112,000
1899
1,5 0 0 ,0 0 0
1,000
5£
1899
1,000
500,000
5£
1897
1.000 ' 225,000
•
r>£
1901
1,000
6,4 4 4 ,0 0 0
4 £
1907
1,00(1
1 .000.000
5£
'92 -’ 95
728,000
1 ,000
4>*
1905
1 ,000
4 .5 7 7 ,0 0 0
5 g
e being ow n ed h y R altlm nre & O h io.
The system embraces, subject to mortgages, the following lines:
P r lie n 3 ' A % M — (1.076m.) M i l e s IPittsburgh & Western................ a21
Balt, to Wheeling, Belpte. O., &C.7211 Plttsb. Clevehand & Toledo
. 77
Cumb. to Plttsb &W . &c---------3oo [l Ittsb.Palnesv. & !•airport------ 53
lsf Af. 4% — (581 miles.)
.
17
Balt. toPh la. and branches........ 137 Trumbull & Mahoning ............. 11
Chicago 111 to Akron, O______ 378 Monongahela Blver BR............. 30
Bramble’s to Fairmont .W.Va.,&c. Of, Cleve Terminal & Valley.. . . 02
S o u th lY D iv .3 Vi % M .—
ICleve Lorain « Wheeling Ry.,
ftottmO.,via
tv. D iCIncIn.
v . .i vi /o
Wheeling to Cleveland, & c...al95
Belprc,
to St.L. &c 930
Ohio River RR. Lines—
P i t t s . J e t 3 Yi % M — (384 miles)
Benwood to Wheeling. ftc...a265
Bellalre to Midland City. O------- l
West Virginia Short Line RR__ 58
Shawnee to Sandusky, O-----------L
Ohio
& Little Kanawha RR___
74
Pittsburgh Junction B B - - - - - - - - *
P . L . E . < L W .V S y s . 4 % M ■(*1 ■n i 2 ™ -)n
West Vlrg' 'lla & Pittsburgh.........17» Total of all (adding Baltimore
Belt and other lines)________ 4,448
•Includes 334 m., also covered by Pitts. Jet. 1st M. a See this company.
HISTORY__Receivers were^appointed In Feb. 1896, but In 1899 reor
ganized without foreclosure.per plan In V. 66, p. 1235. The B. & O. South
western was reorganizecl per plan In V. 67 p. 688, the consol, mtge. of 1893
having been foreclosed: Cent. Ohio, Ac., plan. V. 67, p. 688 1206, 1356. In
Mav 1906 the holdings of Consolidation Coal stock were sold. V.82,p. 1039.
The company received permission t<> ta.n< un i lie ,si;>.i lo,()oo Omc. i
mInal Transfer 1st 4s, which were redeemed May 3 1907. In Feb. 1909
S8 019 100 minority Chic. Term. Transfer pret. stock was sold, the pur
chaserbeing presumably, the B. & O. V. 87, p. 1663; V. 86. p. 52; V. 84.
n 867 930* 1113* V. 85,*p» 98, 1209.
' C o n tr o l o f th e C i n c i n n a t i {H a m . ft D a y t o n .- — Under the readjustment plan
of the CIn Ham & Dayton (V. 88. p. 1430, 1498) the B. & O. is to acquire
control on July 1 1916 at a price to be fixed by arbitrators, the controlling
stock to be vested meantime Infthree voting trustees one to be the Presi
dent of the B. & O. for the time being. Certain of the securities of the
C. H. ft D. are to be guaranteed. V. 89, p. 102.
n r u iiW fi fO & c— In 1901 868.565.000 (virtual control) of the $140,nnn non Reading Co stock, consisting of $12,130,000 first pref . $28,530,000
scco
nref and $27?905.000 com . was acquired, the Lake Shore & Mlchl
ea*,?Southern Ry Co. (Vanderbilt system) taking about one-half. In 1004
the B & O and L S & M. S. each sold $3,050,000 of the common V. 76.
in i-V 80 n 1856. In 1903 a one-sixth Interest In $6,924,200 r the
$i 1,000,000 Hocking Valley Ry. com. stock was acquired. See that co.
PENNSYLVANIA RR. INTEREST.— The Pennsylvania HR Co. pur
chased a large Interest In 1900-01 and on Jan. 1 1909 owned directly $14.
273 600 pref. and $5 ,7 2 5 , 0 0 0 com. stock; also— through the Northern Cen
tral and Phlla B. & W. (each owning one-half)— $2,000,000 pref. and $2,o*)7 4 0 0 com. siock, and through Pennsylvania C >. $5,OoO,uuO nr* f. and
$13 451 200 com. stock V. 70. p 76; V. 74. p 528; V. 78. p. 1276. In
Sept 1 9 0 8 the Penn. RR. sold about $32,334,200 com. and $7,206,400 pref.
B. A O . stock held (approximately half Its total stock holdings), the Union
Pacific system (Oregon Short Line) purchasing same. V. 83, p. 562, 686,
1036; V. 84, p. 50. 569.
STOCK — Authorized Issues: Common, $152,750,000: pref. 4% non-cum.,
$60 000 000: outstanding, see table above. Pref. stock dlvs. are limited to
4 °/ ’
(See V 7 1 , p. 1 1 6 6 , and editorial, p. 1143; V. 72, p. 1186.)
stnnkholders In 1901 subscribed for $22,537,200 common stock at par
rv
7
3
p. |
150,
266),
In 1902
for $42,316,860,
same price
„ An.M
lOflft
fnr <37
7AQ of at
- r.l.'lnf
*1,„
IV. lO, n
n. 1159- V 74,__1
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ft
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OR D IV ID E N D S
W h ere P a y a b le, a n d by
W hom
B on d s— P r in c i
p a l, W h en D u e
S to c k s — L a st
D iv id e n d
S C o ’ s O ffic e ,2 W all S t.N Y Sept
do
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do
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June
do
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do
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A
do
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do
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Jun e
do
do
Apr
O
do
do
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A
do
do
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do
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D First N at 13k, A lle £ iic n y Jun e
J J P M organ & C o , N Y J u ly
J C o ’ s o ffic e , 2 W all St N Y Jan
do
A pr
do
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1 1933
1 1936
1 1930
1 1995
1 1919
1 1950
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do
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ft J
J
& J
J
A ft O
A & O
A & O
J
ft J
M ft N
V a riou s
A ft O
C h eck s m ailed
G uar T ru s t C o , New Y o rk
do
do
do
do
do
do
do
do
B row n B ros, N Y ; ft D ost
do
do
F ou rth N at I3k, B o sto n
Brow n B ros N Y B os & Ph
1 1930
1 1922
1 1922
1939
1945
1925
1913
June 1 1943
J u ly
,Jan
July
Jan
Jan
O ct
J u ly
M ay
Sept
A pr
10 T 9 2%
l 1943
1 1945
1 1943
1 19 43
1 1947
l 1951
1 1937
12-Ju ly 15
1 1935
Of this Issue $8,175,480 Is In hands of the public and $7,635,050 pledged
as part collateral for Pitts. Lake Erie & West Va. System 4s.
N o t e . — The underlying bonds still outstanding In July 1908 are In table
at top of page. The underlying stocks still out $21,227. par value.
(5) P itts b u rg h L a k e E r i e ft W e s t V i r g i n ia S y s te m mtge. refunding 4 % gold
bonds (authorized amount $75 000,000) are a Hen on 1,642 miles, consisting
of the Ohio River, Cleve. Lorain & Wheeling. Pittsburgh ft Western. ftc.,
forming a direct connection with Pittsburgh, Cleveland Falrport Lorain
and Sandusky, subject to underlying bonds outstanding thereon (see table
above). In Sept 1 905 $29.0 6 0 .950 additional underlying bonds Including
$7,635,050 Plttsb. June ft Middle Div. il^s, were held In trust as part se
curity. The $30,553,000 unissued are reserved to retire underlying bonds.
V. 86. p. 479. See full statement V. 74, p. 200; V. 79, p. 2793; V. 80, p.
1423; V. 86, p. 479; V. 88, p. 451: 685.
(6) The 4% d e b en tu res of 1901 arc convertible at the option of the holder
Into common stock at par on 30 days’ notice (see V. 73, p. 1159); they may
be called for payment at par and interest on any Interest day, In the Inverse
order of their numbers. V. 72, p. 282; V. 73, p. 337, 1158; V. 75, p. 540.
(7) N ine Y o r k D i v i s io n a n d T e r m in a l 1st 4s (authorized amount $10,000,
000) are secured by deposit with the trustee of all the Staten Island Rapid
Transit refunding 4s as Issued ($5,000,000 authorized), all the $350,000
Balt, ft N. Y. 1st 5s and the entire stocks of those companies. Of the
bonds $5,000,000 were Issued on June 30 1908 but held In the treasury, the
balance being reserved for the further equipment, development and exten
sion of the Staten I. properties Including Balt. & N. Y. Ry. V. 83. p. 1042.
In Nov. 1907 the Balt, ft Ohio purchased 2,000 cars from the Fairmont
Coal Co., assuming part of $1,529,000 5% car trust bonds, due S162.000
yearly to Sept. 1918. V. 85, p. 1404. Ground rent liens, miscellaneous
car trusts, ftc., Dtc. 31 1908, $1,370,471.
LEASED LINES.— Schuylkill River East Side 5% bonds were purchased
Dec 1 1903 at 110, per V. 68, p. 40, and $5,000,000 new 4s Issued guaran
teed. p. ft I.. by endorsement. V. 77, p. 1745; guaranty, V. 81, p. 727.
The West Virginia ft Pittsburgh (see agreement In V. 67, p. 1310) has
been operated since Sept 1 1899 under a 90 years' lease, for 4% on the mtge.
to be appropriated to payment of bond Interest. V. 69 p. 439.
The H. ft O. acquired at 125 $1,956,000 of the $2,400,000 Pittsburgh
Cleve. ft Toledo bonds. V. 70. p. 6;i2: V. 76, p. 47.
EARNINGS.— 12 mos., ) 1908-09..Gross, $71,043,519; net, $23,491,543
July 1 to June 30.
J1907-08..Gross, 73,608,781: net, 19,457,902
For 6 mos. ending Dec. 31 1908, net, $13,340,815, agst. $12,829,352 In
1907; outside operations (dcf.), $256,034; other Income, $2,377,059;
Int., taxes, rents, &c., $7,388,378; pref. div., 2% , $1,200,000; add’ns and
betterments, $51,924; com. div., 3 % , $4,565,274; bal., sur., $2,256,264.
Earnings of July 1908, based on 3,9 2 miles, entire system, except
Valley RR. of Virginia, Ravenswood Spencer ft Glcnvllle Ohio ft Little
Kanawha. Cleveland Terminal ft Valley, Cleveland Lorain ft Wheeling
ANNUAL REPORT.— Report for year ending June 30 1008 was In V. 87.
D 1005 1015. (See also editorial p. 980.) Average rate per ton per mile,
5.’09 mills in 1 9 0 7 - 0 8 . a™"1""* r- nn
' nM A1' - ......
load, 408 tons, against 433 In 1900-07.
1905-06.
1900-07.
1904-05.
Y e a r e n d in g J u n e 30 - 1907-08.
4,000
3,992
4,030
4,026
Miles....................... .
Freight--------------------- .$55,681,780 $64,625,040 $60,002,204 $50,607,087
Passengers___________ . 13,736,107 14,147,117 13,701,698 13,817,141
3,470,859
3,688,153
3,205,760
Mall, express, &c---------. 4,190,888
.$73,608,781 $82,243,022 $77,392,050 $67,680,097
. 54,150,879 54,880,091 49,515,221 44,710,603
.$19,457,902 $27,363,831 $27,870,835 $22,970,394
3,785,065
. 4,170,103
3,271,840
Other Income----(net)
2,535,409
Total net Income___ $23,628,065 $31,140,796 $31,148,675 $25,514,803
Interest and rentals----- ^ H ’o ^ ’^os
^
978,143
Taxes
. ............. 2.027,298
1,759,795
1,448,364
'
“
1,376,885
Mlscel. lmprov’ts. &c---278,556
1,077,975
485,778
Additions ft lmprov’ts ..
--------3,000,000
3,000,000
2.500.000
Dlvs on pref. stock (4%) 2 400,000 . 2,400,000
2.400.000
2.400.000
Dlvs. on com. stock.(0)9,130,550(6)9,130,190(5H )6,851,474(4}$)5,592,042
Balance, sur. or def.*d$l .373,762 •*■$2,915,440 **$5,812,830 **$3181,954
♦Surplus differs from that shown in pamphlet report, owing to method
off charging common stock dividend, ‘ nr form being used for simplicity.
Executive Committee— Oscar G. Murray, Chairman; G. F. Randolph,
u. R. Foard, E. H. Harrlman, E. R. Bacon N. I). Ream and Samuel Rea;
Pres., Oscar G. Murray; 1st Vlce-Pres., Geo. 1>. Randolph; Sec., C. W. Woo’ ford; Treas., J. V. AleNeal.
_
Directors— K. Brent Keyser. John P. Green, Samuel Rea, Joseph R.
Foard Geo. F Randolph. James Speyer, Edvvard H. Harrlman. Norman B.
Ream, James Stillman. Edward R. Bacon, Joseph Wood. L. F. Loree.
New York office, 2 Wail St.— (V. 8 8 , p. 685, 1060, 1312; V. 89, p. 102.)
BANGOR & AROOSTOOK RR.— (Nee M a p )— Oldtown, Me., northerly
to Van Buren. with branches; total, 607; q_mHes. viz.
L in es L eased —
M ile s .
L i n e s o w n ed —
M lie s .
Oldtown to Van Buren----------- 221.7 Northern Maine Seaport, La
54 1
Grange to Searsport______
Ashland Jet. to Fort Kent--------94.9
7
Milo Jet to Greenville------- -— 48.8 Spurs........................................ .. ,
South Lagrange to Packards.- 28
-------Branches ____________ 50.5
Total June 30 1908 — . . ____ 514.6
A low grade* cut-off from a point 4 m Ics south of West Schools to La Grange,
28 miles, was completed Jan 1908. V. 84, p. 692. In Sept. 1907 the
Northern Rv. of Maine was incorporated with $510,000 stock to build about
70 m., connecting Van Buren, Ft. Kent and St. Francis. V. 85, p. 920; V.
89, p. 161.
ORGANIZATION.— Organized Feb 13 1801. State of Maine refunds
95% of all taxes levied. For organization sec V. 06, p. 855. Owns entire
stock of and leases for 999 years Northern Maine Seaport RR., which In
Nov. 1905 opened extension from La Grange. Me., to Searsport, on Penob
scot Bay, 54 miles. V. 81, p. 1549; V. 84, p. 693,
IUJLY, 1909. J
RAILWAY STOCKS AND BONDS.
17
RAILWAY STOCKS AND BONDS.
18
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b les
iVol. lxxxix.
M ile s
of
R oad
D a te
of
B onds
S iz e , or
Par
V a lu e
A m oun t
O u ts ta n d in g
R a te
W h en
P a y a b le
W h ere P a y a b le, and by
W hom
B o n d s — Princi
pal, W h e n D u e
S to ck s— L a st
D iv i d e n d
%
96-’00
8120,000
$1,000
5 g A A O Guar Trust Co,New York To July 1 1910
1906
630,000
1,000
5 g J A D Brown Bros, N Y A Dost To June 1 1916
_ 1907
To Apr 11917
do
do
720,000
1,000
5 g A A l)
' 80-’86 100 Ac
320,000
6 g J A J 90 West St, New York 1930-1936
J & JL)
July 1 1919
3 1890
150 000
165
Reech Creek— Stock (guaranteed 4 % by endorsement)
Grand Cent Station, N Y July 1 1909 1 %
4
50 6,000,000
Q —j
July 1 1936
5,000,000
First mortgage gold guar p A 1 (endorsed). . K.cAr . 165 1886
do
do
1,000
4g J A j
July 1 1936
Second M for $1,000,000 g guar p A I (end). Un. cAr
165 1892
1,000,000
do
do
1,000
5g J A j
Clearfield Bltum Coal 1st M Int guar by Bh Cr g . .c
721,500
1891
100 Ac
4 g J A j Knickerbocker Trust,NY Jail l 1940
Beech Creek Exten— Is M $4,500,000 g guar p A 1 G.c*
59 1901 1,000 Ac 3,500,000
3H g A A o Grand Cent Station, N Y Apr 1 1951
__ 1905 1,000 Ac 3,964,000
Apr 11955
Beech Creek consol mtge $20,000,000 gold.. G.c* Ar
do
do
4g A A o
650,000
Bellingham Bay A Brit Col— 1st M $1,000,000 gold s f All
1901
1,000
5 g J A D U S M A Tr Co, NY; ASF Dee 1 1932
200,000
Belt Line Ry of Montgomery— 1st M lawful money, .c
1 1890
6
1,000
J A J Metropolitan Tr Co, N Y Jan 1 1910
__
1.000,000 6 In 1909 J A J Co’s office, Indianapolis July 1 1909 3%
Beit RR A Stock Yard of Indianapolis— Stock...........
50
500.000
July l 1909 1H
Preferred stock cumulative.................. .....................
6
50
do
do
c J
First mortgage for 51 .non.000 currency___________
1881
1.000.000
6
M A N W H Newbolds, Phliadcl API 30 1911
1,000
1939
1909
45 1895
5
Belt Ry of Chattanooga— First mtge gold— MeBa.c*
3 0,000
1,000
J A J Mercantile Tr A Dep, Balt July 1 1945
._
Beividere Delaware—Stock $4,000,000).......... ..
1,253,000 10 In ’09 Yearly Broad St Station, Phila Feb 8 ’09 10%
50
500,000
Consolldat.lguaranteed by United Co’s sinking fd-.r
81 1885
4
M A S
Sept 1 1925
1,000
do
do
mortgage ^guaranteed by United Co’s sinking fd. .r
81 1887
749,000
4
1.000
F A A
Feb 1 1927
do
do
of 1875 (Issue $600,000 reduced by sinking fd..r
81 1893
4
500 000
Jan 1 1933
1.000
J A J
do
do
$4.000,OOOj guaranteed by United Co’s sinking fd.c*
81 1903
973,000
1.000
do and Ilk Com,NY Jan 1 1943
3H g J A J
__
1,078,700
Berkshire— Stock 6% rental...... ....................................
6
100
July 1909 1 H
Q - -J 15 Stockbrldge, Mass
__ 1902
1,220,000
Bessemer & Lake Erie— Erie equipment trust.............
5
M A S Home Tr Co, Hobok, N J Men l 1922
1.000
__ 1903
150,000
Locomotive equipment trust............................ ..........
5
M A s
Mcll 1 1913
1,000
do
do
1,060,000
Standard equipment trust...........................................
5
1905
Apr 1 1925
1.000
A A o
do
do
__ 1907
Bessemer equipment trust, due $110,000 yearly.__
1,100,000
5
M A s
Mch 1918-1927
1,000
do
do
Birmingham Belt— See St Louis A San Francisco
1,500.000
Birmingham Terminal—1st M $3,000,000 gold guar
1907
4 g M A s Eqult’lTrCo, New York Mch 1 1057
1,000
30 1898
358.100
5
Bloomsburg & Sullivan RR—First M $400,000----- FP
J A J F 1 T A S D Co. Phila Jan 1 1928
100 Ac
30 1898
199.600
5
Second mortgage Income nou-cum $200,000----- FP
100 Ac
J A J Reg Bloomsburg, wh earn Jan 1 1928
552,000
56 1903
Boca A Loyalton— First M $675,000 gold call 110. c*
6 g A A o U S M A Tr, N Y; A S F Apr 1 1923
1,000
44 1881
400.000
Boon vide St 1. & South Ry— 1st M gold $1,000,000 _c*
6 g F A A Amer Exch Bank, N Y Aug 1 1911
1,000
302 __
Boston & Albany—Stock ($30,000,000 authorized) . . .
100 25.000,000 See text Q M Office, Term Stat’n, Host JUIK30 1909 2H
3.858,000
Bonds (not mortgage) guaranteed prln A Int---------c
1902
1,000
Apr 1 1952
3H A A O
do
do
4
3,627,000
A A () Office, Term Stat’n, Bost Oct 1 1913
Bonds (not mortgage) $5,000,000 . . ................ 1893
1,000
1,000,000
3H J A J
Ronds $2,500,000 currency . . .
.....................
1901
1,000
Jan 1 1951
do
do
0
4"
•v 1 1933
M
N
1908
do
do
Bonds (not mtge $7,000,000. currency, gu. p. A I.
1.00 0
Bangor & Aroostook ( C o n c l .) — Car trusts Ser B----- G
Car trusts Sec C g guar $45,000 due s-a------- PeP.c*
Car trusts Ser D g guar $45,000 due s-a.........Pe.Pc*
Bangor & Portland— First mortgage gold........ - .........
STOCK.— $2,510,000, being Increased from $1,550,000 In June 1007 to
acquire stocks of .Northern Maine Seaport and Schoodlc Steam RRs., eto.
25,000 shares full paid and 100 shares 5% paid
V 84, p 1549.
DIVIDENDS.— m % semi-annually. Jan. 1004 to Jan. 1005. both In
elusive: July. 2 % : 1906, 4 % : 1907 to looo. 4% (s.a.).
BONDS.— As to gold 5s on PIscat Division, see V 67, p. 1159: V. 68 p.
84, 329. Van Buren Extension 5s of 1899, V. 60, p. 952. Of the consol,
refunding gold 4s. $12,500,000 were reserved to pay oil the outstanding
bonds. Including those of controlled roads car trusts and pref. stock, and
to acquire such controlled roads: $3,000,000 for Improvements over a series
of years and $4,500,000 for extensions at $25,000 per mile, Including equip
ment. V. 73. p. 286, 896; V. 74, p. 93. The Northern Maine Seaport bonds,
of which $4,57,'.000 Issued ($5,000,000 authorized) are guaranteed. V. 81,
p 265; V. 82, p. 392; V 84, p 391 . 692: form of guaranty, V. 81, p. 727.
In March 1907 the $998,000 Medford Extension first 5s were sold to pay
for 28-mlle cut-off completed Jan. 1908. V. 84, p. 692.
LATEST EARNINGS.— 1 1908-09------Gross, $2,054,734: net, $946,787
11 mos., July 1 to May 31. /1907-08------Gross, 2,437,434; net, 717,473
Surplus after charges In 11 mos. of 1908-09, $137,668.
ANNUAL REPORT.— Report for year ending June 30 1908 was In
V. 87, p. 1157, showing, gross, $2,844,082: net, $1,044,261; charges,
$937,342; dividends (4%), $97,040: bal , sur., $9,879. In 1906-07, gross.
$3,221,696: net. $1,088,401
Dir <t rs Oct. 19 8. V. 87, p . 1088.— (V.
85, p. 1206: V. 87, p. 1088, 1157: V. 89, p. 161.)
BANGOR & PORTLAND R Y.— (S e e M a p D e l . L a c k . <fe W e s t . ) — Portland
to Bath, Pa. 29 miles; Nazareth Jet to Martin’s Creek 5 m.; other branches
5 m.; total, 39 m Stock, $510,000. all acquired In 1900 by Del. Lack. A
West RR Dividend 1900, 6%; 1901 5 % -1002. 4%: 1903. 7% : 1904. 8% :
1905, 15%; 1906 and 1907, 20%: 1908, 18%. For cal. year 1908, gross,
$311,181: net over taxes, $148,991; other Income, $996: charges, $40,076;
dlv. (18%), $91,800; bal., sur., $18,111.
BATH & HAMMONDS PORT RR — Bath. N. Y .. to Hammondsport. N
Y.. 10 miles. Control acquired by Erie RR. In 1903. In 1904 foreclosure
under $100,000 first mtge. was pending: second mtge.. $200,000. Stock,
$100,000. Year ending June 30 1908, gross, $41,888: net, Incl. other Income,
$15,737; Int., taxes, Ac., $16,758; bal., def., $1,021.— (V. 79, p. 1954.)
BEAVER & ELWOOD RR.— Ellwood Jet. to Hazen Coal Mine Pa.. 3 m.
Leased to Pitts. A L Erie RR. for 20 years from May 1 1899; rental being
40% of gross earns; rental in 1907, $17,033; adm’n expenses, $576; Int. on
bonds, 56,000; dividends (6% ), $9,000; bal.. sur., $1,457. Stock, $150,
000; par, $100.
BEECH CREEK RR.— (S e e M a p s N Y . C e n tr a l & H u d s o n R iv e r R R . ) —
ROAD.—Jersey Shore, Pa., to Mahatfey. 112 m.: branches to Phlllpsburg,
to mines, Ac., 53 miles; total, 165 miles.
LEASE. Ac.— From Oct. 1 1890 leased to the N. Y. Cent. A Hud. River
RR. for 999 years at Interest on bonds and 4% on stock, and since May 1
1899 operated directly as a part of Its Pennsylvania division. V. 68, p. 872.
Carries mostly coal and coke. See guaranty. V. 52 p 570. The bonds are
endorsed with New York Central’s guaranty of principal and Interest.
See V. 52 p. 870.— (V. 75. 1398 )
BEECH CREEK EXTENSION R R .~ (S e e M a p s N . Y . C e n t. & H u d . R l v . )
— Clearfield, Pa., to Keating, 52.1 miles: Ross’.ter to Rosslter Jet.. 3.2 m.;
McElhattan to Browns. 1.2 m. Curwensvllle to Bower, 15.8 m.; Mahafley
to Arcadia, 13.1 m.; Harmon to Boardman. 13 m.; branch to trvona. 16.3
m.; 3 other branches. 1 1 5 m ; total 126.2 miles. A low grade coal line
leased to N. Y. Cent. A Hud. Rlv. RR. (which owns entire 55,179.000 stock)
for 999 years from June 1 1905. bonds being guaranteed, prln. A Int. Of the
consols, part Is reserved to retire, dollar for dollar, old bonds. V. 80. p.
1174,147). V. 81 p 30; form of guaranty. V 32 > I 267. —(V. 82, p. I267)
BELLINGHAM BAY & BRITISH COLUMBIA RR.— Bellingham to Gla
cier, Wash., 44.18 m.: branch from Hampton to Lynden, 5.31 m.: spurs,
10.16 m.; yard track and sidings, 7.90 m.: total, 67.53 m. Stock, $1,000.
000, all owned by New York and San Francisco parties. Loans and bills
payable June 30 1908 $228,000. Year ending June 30 1908. gross, $223.
086; net, $53,435: other Income, $2,206; Int. and taxes, $55,612; bal., sur.,
529
Pres., H. H. Taylor.— (V. 81. p. 840.)
CELT LINE RY. OF MONTGOMERY.— Owns real estate and a belt line
In Montgomery, Ala., about one mile of track on Tallapoosa.Bell, Perry and
Columbus streets. Atlantic Coast Line RR pays an annual rental of $15.
531. Atlantic Coast Line RR. owns about 92% of the $200,000 stock; par,
$100. Year ending June 30 1908, gross, $19,211: net,, $15,621; bond
interest, $12,000; bal., sur., $3,621.
BELT RAILROAD & STOCK YARD OF INDIANAPOLIS.— Owns 14
miles of belt road Ac. Leased for 999 years to Ind. Union—which see.
DIV’ND— 1Preferred In ICom. ’98 to ’02
’03’04 05 ’ 0 6 ’07 ’08 1909.
Since 1897../full to datelstk % 5 yearly
6 >4 7 8 8 11 12 6
In 1908 on common. Jan. and Jqlv n
.•’ rlin-' 3%, extra.)
In July $1,000.000 30-year 4% bonds were soldto retire the6s due Apr. 30
1911. V. 89, p. 40.
Pres., S. E. Rauh, Indianapolis, Ind.— (V. 81, p. 1099; V. 89, p. 40.)
BELT RAILWAY (OF CHATTANOOGA. TENN.)— Owns 45 miles of
belt railroad In Chattanooga, Tenn. V. 67, p. 72.
Leased till July 1 1945 to Alabama Great Southern RR.; rental guaranteed
to meet Interest on first mtge bonds, taxes and maintenance. STOCK
Is $300,000, owned by Alabama Great So. Ry. There are also $24,000 2d
Inc 4s. due 1945, redeemable at par: coup paid Jan '01 to July ’08 lnc.|
BELVIDERE DELAWARE RR.— Owns from Trenton, N. J., to Manun
ka Chunk. N. J., 67 miles; Flemlngton RR. Ac., 14 miles; total operated,
81 miles. Leased to United Companies, and transferred to Pennsylvania
RR. March 7 1876. Net earnings paid as rental.
D iv i d e n d s . — 1897 to 1906, 5% yearly; ’07, 10%; ’08 and ’09, Feb., 10%.
BONDS.— All of the outstanding bonds are secured by the consolidated
mtge. of 1875 for 54,000,000; sinking fund, 1% of outstanding bonds If
earned. The Issues of 1885, 1887 and 1903 are guaranteed by the United
New Jersey RR. A Canal Co. Guaranty, V 76. p. 918.
EARNINGS.— In 1908, gross, $1,711,334; net, $438,522: other Income1
$33,899: Interest, taxes, Ac., sinking fund and other charges, $298,490:
dividends (10%). $125,300; surplus, $48,630.— (V. 84, p. 748.)
BENNINGTON & RUTLAND RY — See Rutland RR.— (V. 70, p. 685.)
BERKSHIRE RR.—State Line. Conn , to Mass —N Y. State Line
23 miles; Vandeusenvllle. Mass., to Pittsfield, 22 miles; total, 45 miles. A
consolidation In 1905 with Stoekbrldge A Pittsfield and West Stockbrldge
RR
V 80, p 2219
Leased April 1 1893 for 99 years to N. Y. N H. A
H. RR for expenses, taxes and 6% on stock, paid Q J 15 at Ilousatonlc
National Bank. Stockbrldge, Mass. Stock $1,078,700. — (V. 80, p. 2219.)
BESSEMER & LAKE ERIE RR — Leases Pittsburgh Bessemer A Lake
Erie RR.. Bessemer, near Pittsburgh, Pa., to Conneaut Harbor, Lake Erie,
Ac., with branches, a total of 209 miles, for 999 years from April 1 1901;
owns 9 miles; total, 218 miles. V. 72, p. 137. Authorized to operate a
railroad from a point of counectlon with the Pittsburgh Bessemer & Lake
Erie at or near Krcmls Station, Pa., to a point on the Jamestown & Franklin
RR. near Salem Station, Pa. Stock, authorized, $500,000. Controlled by
the Carnegie Co. and so by U. S. Steel Corporation. Guaranty of Marquette
* Bessemer Dock A Navigation bonds. V. 77. p. 1228; V 76 p. 1358;
V. 82, p. 160.— (V. 82, p. 160.)
BIRMINGHAM & ATLANTIC R R —Talladega to Coal City. Ala., 31
miles; branches, Rogans to ore beds, 9 miles, and Furnace to Welslugers,
3 miles; total. 43 miles. Stock, $1,000,000, all common; par of shares,
$100. Bonds, $500,000 40-year first 6s due Nov. 1 1931 ($1,000 each);
Interest, payable MAN, in default. Year ending June 30 1908. gross,
$32,571; net Income, 56,449; taxes, Ac., $2,761; bond Interest, not paidPres., Sidney H. March; Sec. & Treas., John Carlsen, 25 Broad St., N. Y.
BIRMINGHAM TERMINAL CO— Has under construction passenger
terminals at Birmingham. Ala. Stock all owned by the Illinois Central.
Southern Ry . Seaboard Air Line, Central of Georgia, St Louis A San Fran
cisco and Alabama Great Southern, which Jointly guarantee the bonds.
Of the bonds ($3,000,000 authorized) $1,500,000 are reserved for additional
properties. V. 83, p. 1227; V. 85, p. 404.— (V. 85, p. 404.)
BLOOMSBURG & SULLIVAN RR.— Owns Bloomsburg to Jamison City,
Pa., 30 miles. Stock Is $600,000; par. $50. V. 66, p . 80,952. Year
ending June 30 1908. gross. $104,447; net. $46,950; other Income. $3,377;
Interest, taxes,Ac., $35,887; ba ance, surplus. $14,440.— (V. 66,p 80. 952.)
BOCA & LOYALTON RR,— Owns from Boca, on Central Pacific main
dne. northwesterly via Loyalton to Beckwith. 40 miles: 6 miles additional
main line and 10 miles of branches; total, 56 miles. The Den. & Rio Gr.
Juno 30 1908 owned 51% of stock.
Stock. $1.200,000; par of shares, $15. Bonds cover also Roberts Lumber
Co.’s property, comprising 52 769 acres of pine lands, water-works, &c.
Mercantile Trust Co. of San Francisco Is mortgage trustee. They are sub
ject to call for sinking fund at 110 and interest. V. 76, p. 1191. For year
ending June 30 1908, gross, $214,768; net. $79,755; charges, $88,435; bal.,
def., $8,680. — (V. 81, p. 667.)
BOONVILLE ST LOUIS & SOUTHERN R Y — Boonvllle to Versailles,
Mo., 44 miles
Leased to Mo. Pac. till July 1 1910 at annual rental of
$25,000, taxes, expenses. Ac. Stock $250,000; par of shares, $125.
BOSTON & ALBANY RR —Owns from Boston, Mass., to Albany, N, Y .,
200 miles, branches. 104 miles: leased lines, 88 miles; total, 392 miles.
Leased In 1900 for 99 years to the New York Central A Hudson River RR.
for guaranteed rental of 8% per annum on the $25,000 000 stock, payable
quarterly (March 30, Ac ), organization expenses, Interest on bonds, taxes,
expenses of maintenance, Ac.
The B. A A received for certain property
not Included In the lease $5,500,000 In N. Y. Central 3 X % 100-ycar deben
tures, thus adding .77% per annum to 8% guaranteed on stock. See lease
In V 69, p. 282; V 69, p. 1061. 1102. 1246; V. 70. p 74; V. 71, p. 645,
963
Bonds of 1901. $2,500,000, were for terminal faculties at Boston, of
which $1,000,000 Issued. V. 71. p. 1218; V. 72, p. 44; V. 75. p. 752.
In 19 18 57. ))), )) i ’ 5-year 4% bonds were sold, guaranteed prln. and
Int. by New York Central A Hudson River RR. No mortgage can be
nlace'i on ’ hi- cmertv without jointly Including the >>m-is In th<- lien.
V. 86, p. 1099, 1158, 1466, 1528; V. 88, p. 99. In June 1909 Issued $4,500.
000 25-year 4% bonds for additions and Improvements. V. 88, p. 1060;
V. 89. p. 102; V. 89, p. 161.
DIVIDENDS.—Cash dividends at the rate of 8% yearly were paid for
many years prior to the lease. Since 1900 8 K %. viz : 2% each In March
and September, 2H % In Juno and 2M% In December.
EARNINGS as reported to State Railroad Commission by lessee:
Y ear—
C ross.
M e t.
O th er I n c . I n t . ,d i e s . A c .
B a la n c e .
$8,543 $2,545,072 def.$1,927,838
1907 08........$11,979,145 $608,691
1906-07 -------- 12,097,301 1.043,104 392,141 3.557.796 def.1.222,551
— (V. 86, p. 1466, 1528; V. 88. p. 00, 1060, 1436; V. 80, p. 102, 161.)
BOSTON & LOWELL RR.— ROAD.— Owns Boston to Lowell. 26 miles;
branches— Salem and Lowell, 17 miles; Lowell and Lawrence, 12 miles,
others, 45 miles; Middlesex CeutraL 11 miles: leases— Connecticut A Passumpsic, 146 miles; Nashua A Lowell, 15 miles; Peterborough, 10 miles;
Northern N. H., 83 miles (and subsidiary lines 90 miles); Stony Brook RR.,
13 miles; Wilton RR., 15 miles. Leases mostly assumed by BostonAMalne.
Leased In 1887 for 99 years to the Boston A Maine at 7% per annum on
stock till Jan. 1 1897 and 8% thereafter.
In Jan. 1909 sold $325,000 one-year 4% notes, maturing Jan. 15 1910.
V. 86, p. 227. In Jan. 1909 $350,000 4% 20-year bonds dated April 1 1909
were sold to refund the same amount maturing on that date. V. 88, p. 52,
99.— (V. 86, p. 227; V. 88, p. 52, 99, 157, 748.)
BOSTON & iMAINE RR.— ROAD.— The system with Its many branch
lines covers the territory from Boston, Mass., to Portland, Mo. (two divi
sions), Springfield, Mass.. Sherbrooke, Can., Rotterdam Jet. and Troy
N. Y., Worcester, Mass., to Portland, Me., and most of New Hampshire.
1VIAP OP THE
BUFFALO,
\pTD;
BONDS.
AND
..
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KAILWAY STOCKS AND BONDS.
20
B o s to n & A lb — (C o n c l) — B o n d s (n o t M )g u p & L .c & r *
B o s to n & L o w e ll— Stk ($ 6 ,8 4 9 ,4 0 0 )'
B o n d s 20 yea rs n o t m o r tg a g e ------- S ec d escrip tion
In " I n v e s t o r s
B on ds
B onds
do
do
-------- S u p p le n ie n t’
B onds
do
do
-------- o f A p r ., 1895
B on ds
do
do
c * ------ p . 2.
B onds
do
do
c * ------ B oston & M aln e
B onds
do
do
-------- give s a rental
B onds
do
do
-------- gu a ra n ty fo r 99
B onds
do
do
c ____ years.
B onds
do
do
_____
B on ds
do
do
_____ .
B o s to n & .Maine— S to c k , c o m m o n and s c r ip _______ OB
P referred stock 6 % n o n -c u m u la tlv e ______________OB
Im p r o v e m e n t b on d s s f n o t m o rtg a g e or s u b j to c a ll.
B on d s (n ot m ortg age) fo r Im p ro ve m e n t & r e f - . c & r
B on d s (n o t m ortg age) g o l d _______________________ c & r
B on d s ex ch a n g ed for F itch b u rg s to c k (V 70 p 1 7 5 ).
B o n d s (n ot m o r tg a g e ), $ 1 ,0 0 0 ,0 0 0 ----------------------------B o n d s $2,000,000 (n o t m o r tg a g e )----------------------------B on d s ( n o t m o r t g a g e ) , 2 0 -y e a r ____________________ _
B o n d s (n o t m o r tg a g e ), c u r r e n c y ------------c& r
B on d s (n o t m ortg a ge) $ 1 2 ,0 0 0 ,0 0 0 ----------------------- c& r
P o rts m o u th G reat F alls & C o n w a y 1st M assum ed ..
B oston & P rov id en ce— S to c k 1 0 % g u ar 99 yrs O ld CoJ
B o n d s , n ot m o r tg a g e -------------------------B oston R ev ere Beach & L y n n — S t o c k .
M ile s
of
R oad
D a te
of
B onds
S iz e , or
Par
V a lu e
4
$ l,0 0 0 & c $4 ,5 0 0 ,0 0 0
8
6 . .s 4 9.400
100
4
1,000,000
1,000
1892
4
1,000,000
1,000
1893
4
500 .000
1,000
1895
4
750 .000
1896
1,000
4
414 .000
1,000
’ 9 7 -’ 98
3 ,4
939 .000
1.000
’ 9 9 -’01
3 ,4
250 .000
1,000
1903
34
500.000
1905
1,000
4
5 00 .000
1906
1,000
4
325 .000
1,000
1907
4
350 000
1,000
1009
100 2 8 .2 /1 ,7 9 0 See te x t
6
3,14 9 .8 0 0
100
4
1 .919,000
1,000
1887
4
2 .5 0 0 .0 0 0
1892 1,000 &c
6,000,000
44 g
1894
1,000
5.45 4 .0 0 0
3 g
1,000
1900
34
1,000,000
1.000
1901
34
2,000,000
1903
1,000
500 .000
34
1905
1.000
4
1906 1,000 &c 10,000.000
44
1909 1,000 &C 11 ,7 0 0 ,0 0 0
1,000,000
44
73 1877
500 &c
10
4 ,0 0 0 ,0 0 0
100
03
4
2.17 0 .0 0 0
’ 8S-’ 93
1,000
850 .000 6 ln 1960
100
44 g
850.000
9 1807 1,000 &C
34
1897 1,000 &c 1 4 ,000.000
5 g
See t e x t
100 &C
1908
--6
am w —
' v,
v
B u ffa lo N ew Y ork & F.rie— S ec E ric R a ilro a d .
10!)
260
275
1,000
1881
1882
1887
100
10O
1 .000
1,000
1 .000
L in e s lea se d — (C o n clu d e d ) .
M il e s .
M il e s .
F i t c h b u r g ............................................ u458
B o s t o n , M a s s ., to P o r tla n d , M e .,
v ia W e s te rn D iv is io n -------------- 115 N ashua & L o w e ll_________________ «1 5
B o s to n t o P o r tla n d . E astern D lv . 108 W o r c e ste r N ashua & R o c h e s t e r . a94
C o n n e cticu t R iv e r R R .................... a81
C on w a y J u n e ., M e., to N orth
O ther ...................................................
72
C on w a y , N . H ................................
9
P o r ts m o u th E le ctric R y ...............
13 T ra ck a g e r i g h t s _________________
P o r tla n d , M e ., t o R o c h e s te r .
N . H .......... .................... - - - - - 54 T o ta l o p era ted J u ly 1 1 9 0 8 ____
2d track (3d & 4th tra ck . 10) 549
N orth C a m b ridge J e t. t o N o rth
a m p t o n . M ass--------------------------- *J6 C on trols M aine C en t, (w hich see) 931
S t. J o h n sb u ry & L a k e C h am p 131
S u n d ry b ra n ch e s ..............................- 148
Y o r k H a rb o r & B e a ch ...............
11
L i n e s lea sed ,
a See this c o m p a n y .
V e r m o n t V a lle y _______________
24
B oston & L o w e ll--------------------------- 0469
26
S u lliva n C o u n ty ...........................
C o n co rd & M o n tre a l--------------------- a478
2.288
O R G A N I Z A T I O N , E T C .— A n agreem en t w ith N ew Y o r k N ew H aven &
H a rtfo rd regarding division o f te rrito ry w as m a d e In 1893, V . 56, p. 464.
In Ju n e 1907 the N ew Y o r k N ew H a ve n & H a rtfo rd acq u ire d $10,994 ,80 0
(a b o u t 3 8 % ) o f the s t o c k , w h ich w as e x c h a n g e d . shai£ for share, fo r sto ck
o f th a t c o m p a n y , b u t sold In J u ly 1908 t o new Interests w h o . It w as said,
also a cq u ired su fficien t ad d itio n a l s to c k to give th em 5 1 % o f the o u t
s ta n d in g a m o u n t. V . 84. p . 1365: V 85 p . 39. 160 863 1209. 1517: V 86.
p . 1466: V . 8 7 , p . 96. 935, 1009: V . 88, p . 373, 504: V . 8 8 . p . 1618.
In Ju n e 1909 a law w as passed in co rp o ra tin g th e B o sto n R a ilr o a d H o ld in g
C o. u n d er th e law s o f M assachusetts to h o ld the B . & M . s t o c k , and in J u ly
1909 a n o ffer w as m a d e to p u rch ase the s t o c k . V . 88, p . 1618; V . 8 9 , p . 4 0 ,
161.
D I V S . Since ’ 9 2 / ’ 9 3 . *94-98. *09. * 0 0 t o J u ly ’ 08. ’08.
C o m m o n ...........% \
8 6 y ’ ly . 6 4
7 y e a r ly . O ct 1 4
1,000,000 *
1891
L in es ow n ed .
1909.
1 J 4 .1 H .1 4
B O N D S — A s to d e b e n tu re s, see Issue o f A p ril 1895.
In M arch 1906 $ t0 ,0 0 0 ,0 0 0
-year 4 % cu rre n cy bo n d s d ated S e p t. 1 1906
w ere sold t o refu nd and p a y b o n d s an d n otes m aturin g S ept and O ct. 1906
and for oth er n ecessary pu rposes
V . 8 1 . p. 974, 899, 1174: V . 82, p. 567;
V 83 p 36 322- V 8 6 . p . 228; V . 87. p . 1009.
In D ee. 1908 $11 .700,000
2 0 -v e a r 4 H s w ere sold t o refu n d $ 1 1 ,3 5 0 ,0 0 0 sh o rt-te rm o b lig a tio n s m a
tu rin g t o M ay 1909. V . 8 7 , p , 1009; 1604, 1663; V . 8 7 , p . 52, 157.
B o s to n & M aine guaran tees $ 1 .328,000 Drat 5s o f S t. J oh n sb u ry & Lake
C h am plain
A lso Interest on $27 4.00 0 M anchester & L aw ren ce 4s
Jo in tly
w ith M aine Central gu aran tees $30 0,00 0 P ortlan d S tation bon d s.
20
E A R N I N G S .— 11 m o s .,1 1 9 0 8 -0 9 --G r o s s , $ 3 6 ,0 7 9 ,8 2 6 : n et, $ 10 ,406 ,14 4
J u ly 1 t o M ay 31.
]
- - -G r o s s , 3 5 ,9 4 5 ,1 4 6 ; n et,
9,262,447
F o r 9 m os . en d in g M arch 31 1909. n e t, $ 8 ,2 2 7 ,0 0 2 , a gain st $7,290,209 In
190 7-0 8; oth er In c., $51 2,66 6; ch arges, $ 7 ,2 1 9 ,8 4 5 ; b a l., s u r ., $ 1 ,5 1 9 ,8 2 3 .
1907 08
A N N U A L R E P O R T — A n n u al m eetin g secon d W e d n e s d a y In O cto b e r .
A n nual r e p o r t 1907-08 In V . 87. p . 932, sh o w e d results as fo llo w s :
1006-07.
1907-08
P assen ger
____ - - - - - ______
___________ - _____ $13,629 ,66 1 $13 ,844,226
F reig h t
.................................................................... 24,780,454
22,486,065
M all, e x p ress, & c .................................................- ..............
2 ,6 5 0 ,4 1 0
2,660,458
T o t a l op e r a tin g r ev e n u e s _________________________ $ 41 ,060 ,52
$38,990 ,74 9
T o ta l net in com e (after t a x e s )........................... ......... $ 9 ,825,570
$8,682,079
R e n ta ls , Interest, sin kin g fu n d an d b e tte rm e n ts ($ 8 0 ,5 3 7 )------- 8 .0 1 1 ,1 2 0
B a lan ce fo r y e a r 1907-08 --------------------------------------------------------------U n a p p ro p ria te d surpluses lo r 6 yea rs e n d ed Jun e 30 1907--------6 y ears e n d ed Jun e 30 190 7-------------------------------------------------------
$670,950
$543,206
543,206
$1,214,165
D iv id en d s on preferred s t o c k , 6 % ...........................................................
$188,988
D iv id en d s on c o m m o n s t o c k , 7 % --------------------------------------------------1,891,633
B a la n ce, deficit In 1907-08, p a id fro m profit an d l o s s .............
$866 456
OM B arts—
1906-07.
1905-06.
1904-05.
G ross earnings
_______- _________- — $ 4 1 ,1 2 5 ,2 5 6 $39 214,203 $36 213,245
N et earnings
..................$ 1 0 ,156 ,85 9
$ 9 ,860,834
$9,593,505
N et Inclu din g "other” fn co m e ................. $10 ,8 6 1 ,2 1 8 $ 1 0 ,482 ,91 9 $10,181 ,09 4
O F F I C E R S — P res . L u ciu s T u ttle ; 4th V .- P . an d G eneral A u d ito r .
W . J H o b b s : T rca s , H e rb e rt E . F ish er.
O ffic e , B o s to n .
D ir e c to rs — Joh n L . B llla rd , C h as. F . L ln s le y , M eriden . C o n n .; Sam uel
H e m in g w a y , N ew H a v e n . C o n n .; F ran k T . B r o w n , N o rw ich , C o n n . L u ciu s
T u tt le . R ich a rd O In cy , J . M . P re n d e rg a s t, S . N . A ld r ic h , B o sto n : J osep h
H . W h it e , M oses W illia m s . B ro o k lin e . M ass.; S am uel C . L a w re n ce . M ed
fo rd : A . W . S u llo w a y . F ra n k lin , N . H .; W m . W h itin g , H o ly o k e . M ass.;
F r c d k . C . D u m a ln e, C o n c o r d , M ass.: E d w in F . G reen e, W a y la n d , M ass.:
F red E . R ic h a r d s . P o r tla n d . M e ; E d w a rd P . R ic k e r , S o u th P o r tla n d . M e .—
( V . 8 8 , p . 52. 99, 157, 373 , 504, 1497, 1618: V . 8 9 , p . 161.)
BOSTON & P R O V ID E N C E R R .— O w ns B o s to n M ass., to P r o v id e n c e .
R . I .. 44 m iles; branches 20 m iles. L eased 99 years A p ril 1 1888. to Old
C o lo n v R R .: rental 1 0 % y early on s to c k .
In Jun e 1907 a law w as signed
p e rm ittin g con s olid a tio n w ith O ld C o lo n y R R . — (V . 84 p . J487.)
BO STON R E V E R E BE A C H & LY N N R R .— O w ns n arrow -gau ge road
from L y n n to E ast B o s to n , M ass.. 9 m iles, c o n n e c tin g w ith B o sto n b y c o m
p a n y ’ s ferry -b oa ts: W ln th r o p D iv is io n , E ast B o sto n to W ln th r o p . 5 m iles.
In S e p t. 1908 $ 37 9,10 0 s to c k w as a cq u ire d b y E sta b ro o lt & C o. V . 87. p.
676. O f the 4 4 s o f 1897, balan ce unissued Is fo r Im p ro ve m en ts. V . 65.
p . 68: V 83, p . 379.
N otes p a y a b le J u ly 1 1908, $34 5,00 0.
D I V ’ D S . 1 1888-91. ’ 92 ’ 93. ’ 94. 95. 06. ’ 97 t o ’ 0 5 . ’ 0 6 . ’ 07. *08. 1909.
P er c e n t - - - ] 7 y ea rly 5 4
5 44
4
3
2 yea rly 4
5
6
6
••I Y r . e n d . J u n e 30— G ross.
N et.
I n t .& t a x e s . D i e s p a i d . B a l . .s u r .
1 0 0 7 -0 8 ......................... $834,021
$12 3,41 5
$71,332
(6 % )$ 5 1 ,0 0 0
$1,083
190 6 -0 7 ......................... 819,073
105,581
61,802
( 5 % ) 4 2 ,5 0 0
1,278
_ V . 8 1 . p. 1722; V . 83. p . 270, 379 ; V . 84, p . 1365: V . 87, p . 676.)
R a te
%
A m oun t
O u ts ta n d in g
1909
d u ii
B R & P first gen mtge ($10.000.000) gold --l.m .c
W h en
P a y a b le
W h ere P a y a b le, and by
W hom
B on d s— P r in c i
p a l, W h e n D u i
S to c k s — L a st
D iv id e n d
& N
&
J
& O
& A
& S
& J
& o
&
J
& N
& S
& N
&
J
& O
i3 — J
M & S
F & A
F & A
&
J
J
.1 &
J
M & N
J
&
J
F & A
M & S
A & O
J
& D
Q— J
J
J
&
J
J
&
J
& J
Text
M & N
O ffic e , T e rm S ta tio n , B os
A t O ffic e , B o sto n
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
A t O ff,C a u se w a y St B os
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New Y o r k a n d B oston
do
do
B o s to n T e r m , R o o m 424
do
do
O ffic e , o r ch e ck s m ailed
S tate St T ru st C o , B oston
S ta te N a tio n a l B k !B ost
Sav an n ah (G a.) T r Co
M ay 1 1934
Ju ly 2 1999 4 '
A pr 1 1032
F eb 1 1913
Mch 1 1915
Ju ly 1 1916
O ct 1017 & 1913
1910 & 1921
M ay 1 1.923
S ept 1 1925
N o v 1 1926
Ju ly 1 1027
A p ril 1 1920
J ’ly 11909 1 4 %
Mch 1 1909 3y„
F e b 1 1937
Aug 11942
Jan 1 1944
J u ly 1 1050
N o v 1 1921
Jan 1 1923
Feb 2 1 0 2 5
S ep t 1 1926
April 1 1929
June 1 1937
J u ly l 1909 2 4
Ju ly 1 1918
J u ly 1 1909 3 %
J u ly 15 1927
F eb 1 1947
M ay 1 1938
IN T E R E S T
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s . & c . , s e e n o te s
o n fir s t p a g e o f tab e s
[V O L. LXXX1X,
5 g
See te x t
6 In 1908
6 g
6 g
i
5 ir
M
J
A
F
M
J
A
I
M
M
M
J
A
OR D IV ID E N D S
J
&
J F a rm ers’ L o a n & T r , N Y Jan
F
F
F
J
M
ft
A 36 W all
do
A
A
do
do
D
s
do
&
&
&
&
S t. N ew Y o r k
do
do
d>
do
1 1941
Feb 15 1909 2
Feb 15 1909 3 %
F eb 1 1921
Dec 1 1022
Sept 1 1937
BOSTON T E R M I N A L C O .— O w ns S ou th ern U n io n D e p o t In D o sto n
op en ed In 1899. V . 68, p . 40: V . 6 9 , p . 591. B o sto n & A lb a n y N ew E n g
la n d . B o sto n & P r o v .. O ld C o lo n y and N . Y . N . II. & H a rtfo rd H R . Cos.
each ow n s o n e -fifth o f the $500,000 c a p ita l s to c k an d p a y as rental In m o n th ly
Installm ents sum s su fficie n t to p a y all e x p e n se s, ch a rges, Interest on bunds
and 4 % o n sto ck . T h ese co m p a n ie s arc jo in t ly liable for a n y d e ficien cy In
case o f fo re clo su re . R e g . lnt. p a y a b le Q -F ; c o u p o n s F & A .— (V . 8 7 . P- - 2 4 .)
B R IN S O N R Y . — P ro te cte d fro m S a v a n n a h . G a .. n o rth w e st t o A th en s,
180 m iles. In April 1909 25 m iles, fro m S a v a n n a h t o b e y o n d S prin gfield,
w as co m p le te d : the Sav an n ah V a lle y R R ., bu ild in g fro m E g y p t to Mill
H a v e n , G a ., has been a cq u ire d b y or In th e interest o f th e c o ., a 10-m ile
c o n n e c tin g link be in g u n d er c o n s tr u c tio n , m a k in g a total o f 80 m iles.
S to c k a u th o riz e d , $ 1 ,0 0 0 ,0 0 0 , w h ich m a y be Increased to $ 5 ,0 0 0 ,0 0 0 .
S to ck h o ld e rs April 6 1908 a u th o riz e d an Issue o f $2 ,2 5 0 ,0 0 0 b o n d s a t $10 ,000
n cr m ile fo r the first 100 m iles a n d $15 ,000 p e r m ile fo r rem ain der o f r o a d .
V . 86, p. 720 , 1158.
P re s., G e o . M. B rin so n .
O ffice , S p rin gfield , G a.
— (V . 86, p. 720, 1158; V . 88. p . 944.)
B U F F A L O C R E E K R R .— O w n s 6 m iles o f term in al road In B u ffalo N Y
In D e ce m b e r 1889 leased fo r term o f ch a rte r less o n e d a y to the L eh igh \ a)
ley an d the Erie R R ., w hich to g e th e r ow n en tire c a p ita l s to c k o f $25 0,00 0.
R e n ta ! is Interest o n b o n d s an d 7 % o n s t o c k .— (V . 8 4 . p . 50.)
B U F F A L O R O C H E ST E R & P IT T S B U R G H R A I L W A Y .— {S e e M o o - ' —
O perates from B u ffalo and R o c h ., N . Y . , t o bitu m in o u s c o a l region s.
T r a c k a g e (C o n c lu d e d ) —
M ile s .
L i n e s ow n ed in fe e —
M ile s .
W illo w G rove to P itts b u rg h , P a .
7
BufTalo C reek, N . Y . . to Mt
J e w e tt. P a .......... .................
100 P e n n . R R . — P e n n . R R . J e t. to
Shu m an R u n Y , P a ....................... 19
C larion J et. to L in d s e y . P a . . . .
60
6
R o ch e s te r to A s h fo r d , N . Y . ____ 94 O t h e r ---------------------------L e a s e d — S to c k n o t o w n ed —
C h a rlo tte , N . Y . , to L in coln P a rk 10
In d ian a B r a n ch .................................. 63 A lle g h e n y & W e ste rn — a
P u n x s u ta w n e y t o B u tler. P a .,
F iv e b ra n ch e s— ..........................
20
& c _______________________________ 66
T racka ge—
E ric— Mt. Jew ett to C larion J e t . . 21 Clearfield & M ahoning— a
Clearfield to B eech Creek R R . . 26
B a ltim ore & O hio—
M ahoning V a lle y R R --------------------3
B u tler, P a ., t o N e w ca s tle _____ 41
R lb o ld J e t. to A lle g h e n y C i t y . . 33
T o ta l J u lv 1908 (a See separate sta tem en t fo r this c o m p a n y ) .............__5 -8
O R G A N I Z A T I O N . E T C — S u ccessor In M arch 1887 to th e R o c h e s te r A
P itts b u r g h , w h ich w as foreclosed In O ct. 1 8 8 5 ,p e r plan In V . 41. p. 516.
T h e entire capital sto ck ($4,0 0 0 ,0 0 0 ) o f the R o ch e s te r & P ittsb u rg h Coat
& Iron C o. w as o w n e d (V . 66, p . 1088) and th rou gh th at c o m p a n y In M ay
1896 co n tr o l w as acqu ired o f the Jefferson & Clearfield C oal & Iron C o. (sen
th at c o . und er "In d u s tr ia ls ” ) w ith $3,000,000 s to c k .
In 1906 the stock
o f th e R o c h . & P itts . C. & I. C o . w as tran sferred (s u b je c t to th e lien o f the
general m tg e .) to the M ahoning In v e s tm e n t C o ., h a v in g $4,<.00,000 a u th or
lzed s to ck In $100 shares, In c o n s id e ra tio n o f $ , l o
s t o c k , the latter
being d istrib u te d D e c. 1906 p r o rata In p ro p o rtio n o f 2 5 % a m on g the
holders o f R y . c o m m o n and preferred s to c k s . V . 8 3 , p . 1468.
\
p.
414 , 415 ; r e p o rt, V . 87. p. £42.
F o r b o n d s o f these c o a l co m p a n ies sec
M lscel. C os. Clearfield & M ahoning secu rities are gu a ra n te e d ; A lleg h en y
& W estern , see th a t c o .
In A u g . 1901 allied Interests purch ased u p w ard s
o f 25 ooo acres o f coal lands In In d ian a C o ., P a .
V . 7 o , p. 183, 347. L a k e
O n tario Car F e r r y , V . 8 3 . p . 329 ; V . 8 7 . p . 486.
S T O C K .— T h e sto ck h o ld e rs v o t e d N o v . 21 1904 to Increase th e co m m o n
s to c k from $9,00 0 ,0 0 0 to $ 1 2 ,0 0 0 ,0 0 0 ; $ ,
w as su b scrib e d fo r In 1905
b y sto ck h o ld e rs at par. V . 7 9 , p . 685 , 1905; V . 8 0 . p . 116.
4 2 ,000
.80
1 500,000
D IV S . ( % ) — 1’ 97. ’ 98. ’ 99. *00. *01. *02. ’ 03. ’ 0 4 t o ’ 06. *07. ’ 08. 1900.
Preferred
1
6
6
6
6 6 ye a rly G
6 F e b .. 3
C o m m o n .::::: j . .
..
__ 4
54
y e a rly 5 *
4 Feb. ^
T h e M ahoning In ve stm e n t Cn. In A u g n l9 0 7 and M arch 1 0 0 8 also paid 2 %
d iv id e n d o n Its s to ck ; A u g. 1 0 0 8 .2 % : 1909, F e b ., n on e; A u g ., (1). V .
,
p . 685. C om pa re “ O rg a n iz a tio n ” a b o v e ,
v . b o , p . 283.
1
2 2
4
0
4
88
5 573,000
102
B O N D S .— G eneral 5s fo r $ ,
are reserved fo r p rior b o n d s . & c.
T h e $2,000,000 deben tu res o f 1897 In the treasury are c o n v e rtib le Into corn
m o n s to c k at par and s u b je c t to ca ll at
4 : th ey are to be secured b y a n y
su bsequ en t m tge. unless m a d e fo r r£fun(>‘ nk x ls t,ng p r io r lie n s o r for e x
tensions e x clu s iv e ly . See V . 04, p . 700; V . 73, p . 1009, 1111.
S tock h old ers v o te d A p ril 25 1007 t o au th orize a m tg e . to Secure an Issue
o f $35 ,000 ,00 0 5 0 -yea r con sols t o be a r n o t o v e r 4 4 % Interest, o f w hich
$3,000,000 Issuable at o n c e , $18 ,1 4 5 ,0 0 0 to retire u n d erlyin g oblig a tion s at
o r be fo re m a tu rity and th e rem ain ing 513 .8 o 5 .0 0 0 to be reserved for future
requ irem en ts a fter J u ly 1 1908 at n o t o v e r $ 1 ,500,000 ye a rly In 1908 or
su bsequ en t calen dar ye a rs, o r such larger,
ln a n y year as s to c k
h olders m ay a u th o rize . V . 8 4 , p . 867 , 1306; V . 85, p . 39, 414; V .
, p.
336; V . 8 7 , p . 1009.
A sinking fu n d o f 5 % w ill retire series A , B & C e q u ip m e n t b o n d s an n u ally
on M ay 1. If pu rch asab le a t o r b e lo w par; oth erw ise to be a pp lied to the p u r
chase o f a d d ition al e q u ip m e n t.
V.
, p . 1131; V . 7 1 , p . 501; V . 7 3 , p . 348.
Series D and E have an ann ual sin k in g fund o f % fo r p u r c h a s e o f bon d s
•Sept. 1 an d M ay 1, re s p e c tiv e ly , at 105 and interest; If n o t p u rch a sa b le,
bo n d s m a y b e draw n b y lot; Series E m a y also be called as an e n tire ty at 105.
Series F m a y be p urchased b y sin kin g fund at n o t o v e r p ar o r draw n b y lot
a t p ar and m a y also be draw n at
and Interest on a n y Interest d a y . V .8 4 ,
p . 1365; V . 8 5 , p. 283, 414 , 863 . R e a l esta te m tg e s ., 5 4 % , $60 ,000 .
6
86
68
6
102
.—11
E A R N IN G S
m o s .,1 1 9 0 8 -0 0 ____ G ross, $ 0 ,4 4 9 ,4 7 5 ; n e t, $ 2 ,0 8 8 ,4 2 0
J u ly 1 to M ay 31.
J19 0 7 -0 8 ____ G ross, 6 ,8 9 7 ,9 0 1 ; n et, 2 ,0 6 0 ,6 1 6
F o r m o s. e n d in g D e c. 31 1908, net a fte r taxes, $1,0 3 6 ,9 5 0 , ngst. $ 1 ,2 7 1 .
834 ln 1907; o t h . In c., $17 8,15 7; charges, $887,718: su r., $327,389.
6
A N N U A L R E P O R T .— F iscal y e a r ends Jun e 30. T h e annual m eetb *;
is h eld at N ew Y o r k o n the th ird M o n d a y ln N o v e m b e r . T h e rep ort fu:
1907-08 w as given at len gth ln V . 87, p. 485.
In 1907-08 carried
.
to n s o f b itu m in ou s co a l (o u t o f 8 ,0 3 3 ,5 9 9 to ta l to n s o f freigh t m o v e d ),
a gain st 6.18 4 .1 5 9 In 1906-07.
6 849,240
J u ly . 1909.]
RAILWAY STOCKS AND BONDS,
21
22
RAILWAY STOCKS AND BONDS,
R A IL R O A D S
IN T E R E S T
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , see n o te s
o n f ir s t p a g e o f ta b les
M ile s
of
R oad
D a te
of
B onds
S iz e , or
Par
V a lu e
A m ount
O u ts ta n d in g
R a te
%
B u ff R & P— (C o n ) — L in e P A C h a r lls t M g g _ _ U n .c *
10 1889
5 g
$35 0,00 0
$ 1,000
B R & P co n s o l m tge $ 35 ,000 ,00 0 g o ld - - C e .x .c * A r
348 1907 1,000 A c
4 Vi g
4 .735 ,000
1906 1,000 A c
% C on stru ction & I m p r o v ’ t n otes IV 83 p 1 5 2 2 )- . . _c
7 50.000
4 Vi
E q u ip m e n t b on d s $50 o,000 g o ld s f Ser A -------Q .c*
1899
500,000
1 .000
4H g
do
do
B A C ($ 9 9 5 ,0 0 0 Ser B )e a ch g o ld s f_G
1900-1
1 ,995.000
l .000
iV i g
do
do
D $ 2 ,0 0 0 ,0 0 0 g o ld red 105 sink fund
1902
1,417,000
4 Vi g
1,000
do
do
E $ 2 ,0 0 0 ,0 0 0 g o ld red 105 sink fund ..
1904
1 .217 000
1,000
4Vi g
do
do
F $3,0 0 0 ,0 0 0 g o ld red sinking f u n d . ..
1907
2,645 000
1,000
4H g
B u ffa lo & Susq u eh an n a R R — C o m m o n s to c k gu ar 4 %
4,6 5 6 ,9 0 0
4
50
P referred s to c k 4 % n on c u m u la tiv e gu aran teed 4 %
4 ,000.000
4
50
F irst M g o ld sinking fu n d redeem at p a r — M e .c * A r
102 1893
99,000
5 £
500 A c
F irst refu n d in g m ortg a g e g o ld (see t e x t ) - - M p .c * A r
265 1901 1,000 A c
9,4 8 7 ,0 0 0
4 £
B u ffa lo & Susq R y — F irst M $6,0 0 0 ,0 0 0 g o l d .U s . c * 4 i
1903 1,000 A c
6,0 0 0 .0 0 0
4 'A £
E q u ip m e n t trust b on d s $44,000 due s e m l-a n . U sm .c
5
1906
567,000
1,000
do
do
Ser B (V 85 p 39) $27,000 s - a .- U s m
1907
432 ,000
1,000
do
do
Ser C (V 85 p 283) $45,000 s - a .P o P
1907
720,000
1,000
do
do
Ser D $15 ,000 sem i a n n u a lly _______
. . . 1907
240,000
1.000
B u llfro g -G o ld fie ld R R —See T o n o p a h A T id e w a te r R v
B u rlin gton Cedar R a p id s & N orth ern — See C h icago R o ck Is! and A P a cific R y a n d also R o c k Isl
B u rlin g ton & M issouri V alley— See C h icago B u rllngto n A Q u lney.
B urr’ s Ferry B row n d cl & C h ester— First M g o l d ._ x c *
. . . 1907
165,000
1,000
6 g
C a liforn ia P a cific— S ee S ou th ern P a cific R R .
Cal W R R & N— 1st M $700,000 g o ld gu a r s ! (te x t) _c*
27 1905
363.000
5 £
1,000
C a m bria & C learfield— 1st M ($ 2 ,0 0 0 ,0 0 0 ) g -------G P .c *
103 1891
1 ,279,000
g
1,000
B ell’s G ap co n s o l M sink fu n d n o t d r a w n ___ G u P .c *
30 1882
145,000
6
500 A c
C learfield & Jefferson first m o r tg a g e ________ G u P .c *
46 1886
6
1 ,000.000
500 A c
P en n sy lv a n ia & N YV gen M $ 2 ,5 0 0 ,0 0 0 ______G u P .c *
76 1890
5
1 ,021.000
1.000
C a m b ria & Clearfield general m o rtg a g e g o l d ________
392 1905
1,255,000
4 £
1,000
C am den & B u rlin gton C o u n ty — S to c k (>% guaran teed
30
381.925
6
25
First M g gu p & I b y U n N J R R A Can C o . - G P .c *
30 1897
350 ,000
4 £
1.000
C a nada A tla n tic — C on (n o w 1st) M g g u p A I----------396 1905
14,384,644
$ or £
4 £
P em h S ou th 1st M , g u a r ____________________________
1906
150,000
Cen tral C ou nties first m o rtg a g e Interest re n ta l___ __
60
5
C anada M ich igan & C h ica g o — 1st M (see V 63 p 838)
457
C anada S ou th ern — S t o c k ________ ______________________
100 15.060.000 See text
1st M e x t in 1908 (Can m o n e y )________________________
404 i 878
$ 1 .000 $14 ,0 0 0 ,0 0 0
c> £
404 1883 1,000 A c
S econ d M for $ 6 ,000,000 (Can m o n e y)
do
cA t
6 ,000.000
10 1895
L ea m in g ton A St Clair 1st M g gu p A 1 (e n d )___ c*
130,000
1.000
g
5
5
5
5
4
5
4
BUFFALO ROCHESTER & PITTSBURGH RV. (Concluded)
Year end. .J u n e 30—
1908.
568
M iles Jun e 3 0 ___________
G ross ea rn in gs.....................$ 8 ,2 6 3 ,5 9 5
N et e a r n in g s ......................... $ 2 ,9 1 4 ,3 3 5
O th er In com e....................
144,550
1907.
1906.
1905.
569
$ 8 ,5 9 5 ,9 1 6
$3,149,921
70,0 6 4
568
$7,7 9 7 ,2 4 8
$3,0 0 0 ,8 8 2
32,204
538
$ 8,138,275
$2,848,733
22,805
T o ta l r e c e ip ts .................. $ 3 ,0 5 8 ,8 8 5
$ 3 ,2 2 0 ,5 8 5
In t. on b on d s, A c ............. $ ,
$83 6,11 3
R en ta ls ................................
500 ,668
500 .087
Sink, fu n d s, e x tr ., A c . .
573 ,686
653,931
D ividen d o n p r e fe r r e d ..
(6 )3 6 0 ,0 0 0 (6 )3 6 0 ,0 0 0
D iv id en d on c o m m o n . (5 )5 2 5 ,0 0 0
(6 )6 3 0 ,0 0 0
$ 3 ,0 3 3 ,0 8 6
$800,289
492 ,8 6 7
6 2 3 ,4 2 7
(6 )3 6 0 .0 0 0
(6 )6 3 0 ,0 0 0
$2,871,538
$793,174
485 ,835
618,774
(6 )3 6 0 ,0 0 0
(6 )5 4 0 ,0 0 0
1 021,868
$77 ,662
$240,454
$126,503
$73,755
B a la n ce, s u rp lu s...............
O F F I C E R S .— P r e s ., A d rian Iselin J r ., N . Y . : V .- P . an d G en. M g r., W . I .
N oon a n ; V . - P . , W . E m len R o o s e v e lt , N . Y .; T r e a s ., J . F . D in k e y , R o ch e s
ter; S e c ., J . H . H o ca rt, N . Y .
D ire cto rs — H enry G . lla r b e y , A . G . Y a te s , A . Iselin J r ., W m E . Iselin,
A . L a n fea r N orrle, W a lte r G . O a k m a n , C . O ’ D . Iselin, W . T . N o o n a n ,
W
Em len R o o s e v e lt. Ernest Tselln, O scar G rlsch , John L. R lk e r and
S am uel W o o lv c r t o n .
N ew Y o r k o ffic e . 36 W a ll S t .— (V . 88. d . 821.)
B U F F A L O & S U S Q U E H A N N A R Y — (S e e M a p . ) — O w ns fro m W ellsv llle , N . Y . , to B u lfa lo , 86 m iles, an d leases the B u ffalo & S usq uehann a R R .
fo r 999 years from J u ly 1 1907 fo r Interest on b o n d s and guaran teed d iv i
den d s o f 4 % y e a rly o n the c a p ita l s t o c k .
B y this lease and Its o w n ersh ip
o f the entire c o m s tock o f the B. & S. R R . , the c o m p a n y c o n tr o ls road e x
ten d in g fro m W ellsv llle, N . Y . , to S a g a m o re , P a ., a b o u t 60 m iles north o f
P itts b u r g h , w h ic h , w ith Its several b ra n ch e s, has a to ta l m ileage o f a b o u t
281 m iles. T o ta l m ileage ow n e d and leased, 368.
T h e p lan ts o f the B ufL A S u sq . C oal & C ok e C o . and o f the P o w h a ta n
Coal A C ok e Co. (V . 75 p . 922; V 79, p.
. 2091-92) are lo ca te d on the
lines o f th e B . A S. R R .
T h e B u ff. A S usq. Iron C o ., o w n in g tw o blast
fu rn aces at B u lfa lo, a cqu ires Us en tire s u p p ly o f coal an d c o k e from the
p lan ts o f the P ow h a ta n Coal A C ok e C o. See V . 75, p . 922; V . 79, p . 2061,
2092.
C on n ection Is m ade at B u ffa lo w ith th e B u ff. A S usq . SS. C o .,
o w n e d b y a ffilia ted Interests.
S T O C K — A u th o riz e d , $ 1 0 ,0 0 0 ,0 0 0 ; Issued. $10 ,000 ,00 0; par, $100.
B O N D S .— T h e first 5 0 -y r. g o ld 4 « s (a u th orized Issue $ 6 ,000,000 , all
o u tsta n d in g) are secured b y a first Hen on the term inal p ro p e rty at B uffalo
and the 86 m iles o f railroad In N ew Y o r k S ta te : also b y d e p o sit w ith the
trustee o f all the $ 4 ,6 5 6 ,9 0 0 c o m . s t o c k o f the B u ff. & S usq . R R . C o. V .
74, p . 1040.
See V . 76, p . 593; V . 79, p . 2695.
E A R N I N G S .— 11 m o s .,1 1 9 0 8 -0 9 ............ G ross, $ 2 ,0 9 4 ,3 9 8 ; n e t, $319,266
J u ly 1 to M ay 31.
J19 0 7 -0 8 ............ G ross, 1,92 5 ,6 1 8 ; net, 217 ,154
R E P O R T .— F o r y e a r en d in g Ju n e 30 1908 In V . 88, p . 448 (355 average
m ile s ), sh ow ed gross reven u e , $ 2 ,0 2 4 ,8 8 8 ; net o v e r ta x e s , $167,370; o th e r in
c o m e , $44 3,32 9; Interest, ren tals, A c ., $ 1 ,2 0 5 ,6 2 5 ; b a l., d e f., $594,926.
2061
E a r n in g s o f B u ff a l o & S u s q u e h a n n a R a ilr o a d in P r e v i o u s Y e a r s .
F is c a l
G ro s s
N e t (o v e r
o th er
T o ta l
T o ta l
B a la n c e
Y ea rs
e a r n in g s .
t a x e s .)
In com e.
I n co m e,
d e d u c t'n s .
f o r :U vs.
1 9 0 6 -0 7 .$ 1 ,8 5 3 ,8 5 7 $53 9,19 8 $18 9,39 3 $728,591
$49 0,23 5 $238,356
1 9 0 5 -0 6 . 1 .522,740 535 ,213
137,013
072,826
426 ,320
246 ,506
O F F I C E R S .— P r e s ., Chas. W . G o o d y e a r ; S e c. an d T r e a s ., F . A . L e h r.
O ffic e , 962 E lllc o tt S q u a re , B u ffa lo , N . Y . — (V . 88, p . 4 4 8 , 451.)
B U F F A L O A S U S Q U E H A N N A R R . — O w ns from S a g a m ore. P a . to
W e lls v llle , N . Y . , w ith several bra n ch lines. Inclu din g 17 m iles track age.
T o ta l m ilea g e, 2 8 0 .7 0 .
F rom J u ly 1 1907 the c o m p a n y Is leased to the
B u ffalo & Susq u eh an n a R a ilw a y for rental o f Interest o n b o n d s an d d iv i
den d s o f 4 % on ca p ita l s to c k .
V . 85. p . 1266.
S t o c k .— C om m on s t o c k , all e x c e p t d ire cto rs sh aiex, o w n e d b y B . & S.
R y , $ 4 ,6 5 6 ,9 0 0 ; p ar o f shares $50.
P r e f . . $ 4 ,0 0 0 ,0 0 0 4 % n o n c u m .; p a r ,
$50.
See a p p lica tion to list, V . 78. p. 2389; V . 8 2 . p. 568.
D iv i d e n d s . — O n c o m ., 4 % In 1895 an d 5 % y e a rly t o 1907; In 1907, 4 %
paid Q -J .
U nder lease to B . A S . R y . d iv id e n d s are p a y a b le at 4 % per a n
n u m . On p r e f., 1 % qu a r. M ch . since date o f issue, begin n in g S e p t. 1902.
B o n d s . — T h e os o t 1913 have been red u ced , by the o p eration o f the sinking
fund an d b y refu n din g Into 4s o f 1951, to $ 96 ,000 . T h e y arc su b je ct to call
a t par for sin k. fd . In o rd e r o f n u m bers, b egin n in g w ith highest. V . 65. p.234.
T h e 4s o f 1951 are secured b y a first refu n din g m tg e . on the entire p r o p
e r ty , s u b je c t o n ly t o $96,000 first 5s a b o v e m e n tio n e d , and are further
secu red b y d ep osits o f purch ase m o n e y m o rtg a g e s aggregatin g $ 3,000,000
o n coal lands estim a ted to be w orth $6 ,0 0 0 ,0 0 0 ; o u ts ta n d in g , $9,488,000 .
F u rth er am ou n ts m a y be Issued at n o t o v e r $25,000 per m ile fo r the c o n
s tru ctio n o r acq u isition o f a d d itio n a l r o a d ; also fo r new term inals. T o ta l
au th oriz ed Issue, $15 ,000 ,00 0; hut a d d itio n a l a m o u n ts at $15,000 per m ile ,
m a y be Issued for d o u b le -tra ck in g m ileage a lre a d y c o v e r e d b y the m tge
S in k in g fund o f 3 cts. per to n o f coa l m in ed b y co a l com p an ies m ortg aged
Is Invested In the b on d s If p u rch asab le at n o t exce e d in g 1 1 0 % ; otherw ise In
secu rities legal for savings ban k s.
B on ds so pu rch ased are k e p t a liv e In
sin k in g fu n d . V . 7 3 , p . 619, 899; V . 84, p . 748.
B U F F A L O & S U S Q U E H A N N A C O A L A C O K E C O .— T h is c o m p a n y ,
th e s to c k and ls ^ m t g e . b on d s o f w h ich are ow n ed b y the B . A S. R R ., ow n s
coa l lands at D u B ols, TroutvIU e, O n o n d a ga an d S a g a m o re , P a . T h ese
lands are estim ated to be underlaid w ith a b o u t 1 0 4 .000 .00 0 tons o f coal
T w e lv e m in es In o p era tio n . V . 77, p. 1301; V . 7 9 , p. 2091-02; V . 82, p
1322; V . 85 p . 1266. T h e 2d m tge. b o n d s , $ 2 ,2 0 0 ,0 0 0 on Jun e 1 1908.
are ou ts ta n d in g In the han ds o f the p u b lic.
P O W H A T A N C O A L A C O K E C O .— T h is c o m p a n y , all o f w hose b on d s
and s tock are ow n ed b y the B A S. R R ., ow ns c o a l lands at T y le r and at
S y k e s, u n d erlaid w ith a b o u t 26.000,000 tons o f c o k in g c o a l.
B oth Its
co k in g p la n ts, w ith c a p a c ity o f 800 tons o f c o k e d a lly , are o p e r a te d , and are
sh ip p in g t o B u ffalo fo r use o f B u ff. & S u sq . Iro n C o .— (V . 88, p . 44 8 , 451.)
B U L L F R O G -G O L D F I E L D R R .— See T o n o p a h & T id e w a te r R y .
“ B U R L IN G T O N .” — See C H IC A G O B U R L I N G T O N A Q U IN C Y R R .
[V O L . L X X X fX ,
OR D IV ID E N D S
W hen
P a y a b le
W h ere P a y a b le, and b y
W hom
J
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P en n Co fo r In s u r, A c
B on d s— P r in c i
p a l, W h e n u u e
S t o c k s — L a st
D iv id e n d
Jan 1 1939
M ay 1 1957
Aug 11909
M ay 1 1 9 1 9
M ay 1 ’ 2 0 -’ 21
N o v 1 1919
M ay 1 1922
A p r 1 1927
Ju ly 1 1909 2 %
June l 1909 1%
O ct 1913
A p r 1 1951
A p r 1 1953
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O ct '0 9 -A p r ’ 17
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and C o.
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2 1913
1 1927
1 1930
1 1955
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1909 1 Vi
1013
1913
1945
B U R L IN G T O N C E D A R R A P I D S & N O R T H E R N R Y .— In 1903 title w as
a cq u ire d b y deed b y Ch. R . I. A P a c. R y . C o . , th e holders o f the o u ts ta n d in g
u n e xch a n ge d s to ck (a b o u t $ 1 3 6,20 0— total Issue $7 ,1 5 0 ,0 0 0 ) b ein g g u a r a n
teed 6 % d lv s ., J -J ., as called fo r b y the le a se .— (V . 8 2 , p. 1040.)
B U R R ’ S F E R R Y BR OV VN D EL & C H E S T E R R Y .— See page 168.
C A L G A R Y & E D M O N TO N R Y .— See p a g e 168.
C A L IF O R N IA -W E S T E R N R R & N A V IG A T IO N CO — O w ns F t . B ra g g ,
C a l., to A lp in e , 27 nr. M tge. p ro v id e s fo r e x te n sio n from A lp in e to head
o f N o y o R iv e r , 9 m ., th en ce to W llllts , 9 ) ( m
S to c k a u th o r iz e d , $1 ,0 0 0 ,0 0 0 ;
p a r, $100.
M tge. c o v e r s also term in als, railroad w h a rf an d 18,000 a c r e s o f
tim b e r land.
B on ds are g u aran teed , p rin . and In t., b y U n io n L u m b e r C o .,
and redeem able at 1 0 5 a t e n d o f a n y y c a r ln r e v c r s e c f n u m e r lc a lo r d c r . T h e
$42 0,00 0 first Issue m atures $20 ,000 y e a r ly , and rem ain ing $28 0,00 0 Is to
fall d u e In equa l ye a rly Installm ents. O n Ju n e 30 1908 $62 ,0 0 0 o f $ 4 4 5,00 0
b o n d s h ad oeen retired b y sin k , fu n d , a cc u m u la tio n on h an d b ein g $71 ,0 4 7 ;
V . 8 1 , p . 1435. C al. y r . 1907, gross, $ 25 4,47 0; n e t, $ 82 ,262 ; b o n d In t.,
$ 20 ,600 ; b a l., s u r ., $61 ,6 6 2 . P r e s ., F ru n k T r u m b u ll.— V . 81. p . 1495.)
(T H E ) C A M B R IA & C L E A R F I E L D R Y .— Cresson J e t. to near G len
C a m p bell B ran ch J e t ., 50 m .; B e lw o o d to F o rd h a m , 65 m .; C resson to Irv o n a , 27 m .; K a y lo r to B lack L ick , 37 m .; V ail to G ra m p lo n , 49 m .; B rad ley
J e t. to C h erry T re e , 18 m .; bran ch es, 153 m .; t o ta l, 399 m .
A c o n s o lid a tio n
A u g . 1 1903.
V . 78, p. 828. S t o c k , 5 4 ,8 3 3 ,8 5 0 , all o f w h ich Is o w n e d b y
P en n . R R . C o ., w h ich op erates r o a d . A full a b s tr a c t o f m tg e . secu rin g 5s o f
1891 w as In V . 52, p . 976 . O f the b o n d s, $50 0,00 0 first 5s w ere on Ja n . 1
1909 o w n e d b y th e P en n . R R .
F o r y e a r e n d in g D e c. 31 1908, gross, $ 2 ,
5 64 ,314 ; n e t, $34 7,18 7; o th e r In com e, $ 49 ,240 ; In t., ta x e s , & c ., $ 3 7 5 ,3 5 6 ;
b a l., s u r ., $ 2 1 ,3 7 0 .— (V . 77, p . 298.)
C A M D E N & B U R L IN G T O N C O U N T Y R R .— O w ns fro m P a v o n la , N , J .
to P e m b e r to n , N . J ., 22.35 m iles; b ra n ch , B u rlin g to n , N . J .. t o M ou n t
H o lly , 7.1 2 m .; c o n n e c tio n w ith P . A L . B. R R . at B irm in gh a m , N . J .,
0 .3 9 m .; t o ta l. 29.86 m . O perated b y P en n . R R ., w h ich g u aran tees 6 %
o n s t o c k . S t o c k , $38 1,92 5; par. $25. I n 1908, gross, $ 32 2,39 5; n e t, $310;
loss t o lessee u n d e r ren tal, $ 3 7 ,1 0 5 .— (V . 64, p . 373 .)
C A N A D A A T L A N T IC R Y .— O w ns D e p o t H a r b o r . O n t ., o n G eorgian
B a y. via O tta w a , to V e rm o n t S tate lin e ,396.41 m .; tru ckage t o S w n n t o n .V t .,
A c ,9 .8 2 m iles; leases fur 99 years C entral C ou nties R y .,G l e n R o b e rts o n to
H a w k e sb u r y , 22.24 m .. and Sou th Indian to R o c k la n d , 16.25 m .; ow n s
greater part o f sto ck o f P e m b ro k e Sou th ern R y . branch from P e m b ro k e to
G olden L a k e 21 m . (V 82, p. 451 , 1101); t o t a l, 466 .08 m . T h e G rand
T ru n k a cqu ired the road and to o k It o v e r S e p t. 30 1905. V . 81, p . 1174
C anada A tla n tic T ran sit C o ., $ 1 ,000,000 s t o c k , operates steam ers, P a rry
S ou n d to D u lu th , M ilw aukee and C h icago.
V . 39, p 954: V 70. p 279.
T h e 50 yr. 4s o f 1905 (a u th o rize d Issue. $ 1 6 ,0 0 0 ,0 0 0 ; R o y a l T ru st C o .,
M ontreal, trustee) are g u a r a n te e d , prln. an d In t., b v the G rand T r u n k ;
the unissued bon d s are reserved fo r fu tu re re q u ire m e n ts. V . 7 9 , p . 9 6 7 ,
1131, 1641, 2454; V . 80, p , 1058, 1727, 2343; V . 87, p . 1477.
A s to P e m b ro k e S outhern gu aran teed b o n d s , sec V . 82, p . 451 , 1101.
S T O C K .— $6 199.100 c o m m o n and $ 1 ,000,000 p re fe rre d , all Issued.
R E P O R T .— In 1907-08, gross, $2 ,0 3 5 ,4 1 7 ; net, $ 66 ,765 ; Int. on b o n d s ,
$60 4 ,4 6 7 ; taxes, $ 36 ,161 ; rentals and o th e r fixed ch arges, $25 ,0 0 0 ; b a l..
d e f., $ 5 9 8 .8 6 4 .— (V . 85, p . 863; V .8 7 , p . 1418, 1477; V . 8 8 , p . 623.)
C A N A D A M IC H IG A N & C H IC A G O .— B o n d s w orth less — (V . 03 p .8 3 8 .)
C A N A D A SO U T H E R N R Y .— (S e e M a p s N . Y . C e n t. & I l u d . R lv . R R .) —
R O A D .- -M a in line from Susp ension B ridge s ta tio n , Including the Cantilever
B rid ge , to W in d s o r . O n t ., 226 m .; b ran ch es to C ourt right O n t ., A c ., 231 m .:
t o ta l, 457 m .. o f w hich 85 m iles are n om in a lly o w n e d b y p ro p rie ta ry c o m
pan ies. T ra ck a g e . S t. T h om a s to L o n d o n , O n t ., 15 m . D o u b le t r a c k .152 m .
D e tro it R iv e r T u n n e l, u nd er c o n s tr u c tio n , see M ichigan C entral R R
O R G A N I Z A T I O N , E T C .— T h e c o m p a n y w as ch a rte re d In C a n ada F e b .28
1868 an d d ebt read ju sted In 1878.
In 1903 m a d e a new lease to M ich. C en t,
fo r 999 y e a rs, th e latter g u aran teein g d iv id e n d s on th e s to ck at 2 Vi % y e a rly
t o 1910, th e re a fte r 3 % ; aiso a u th o r iz in g a m tg e . t o retire e x is tin g b on d s
an d p a y fo r im p ro v e m e n ts .
V . 7 6 , p . 1191, 1247; V . 77, p . 950; V . 8 4 ,
p , 803 . T h e $ 1 4 ,000 ,00 0 1st 5s m a tu rin g J a n . 1 1908 w ere e x te n d e d 5
years at 6 % Interest, p a y a b le In g o ld , b y th e M ich . C ent. R R .
V . 85, p.
1 4 0 1 .1 6 4 5 .
F o rm , V . 86, p. 104 1.— (V .8 5 , p . 1401, 1645; V . 86, p.
.)
1041
C A N A D IA N N O R TH E R N R A I L W A Y . — (See M a p . ) — O perates fr o m
P o r t A rth u r, O n tario, on L a k e S u p e rio r, t o W in n ip e g , an d th en ce In to
N orth w estern C anada.
M ite s . „
,
iv* lie s .
23
P o rt A rth u r to W in n ip e g ............. 439 B ran don J e t. to C a rb crry J e t ___
.
W in n ip eg t o K a m sa ck ................. . 279 D elta J e t. t o D e lta ..........
Stan ley J e t. t o G u n flin t........... 67 N eepaw a J o t. to M cC reary J e t . .
70
E m erson J e t. to S o . J e t _______
73 K am sa ck to E d m o n t o n - ________548
C arm an J e t. t o B e lm o n t________ 119 S lfto n J e t. to W in n e p e g o s ls____
P o rta ge J e t . t o In tern ation al
T h u n derh lll J e t. to End o f S te e l.
20
B o u n d a r y ........................ ..............
63 O akland t o T o t o g a n ____ _________
M orris t o S o m e rs e t...........................
62 B a ttle fo rd to B a ttle fo rd J e t ___I
8
23
H artn ey J e t. to B r a n d o n ..... .........
40 E d m o n to n t o M o r ln v lllc . ..........
B elm on t to V lr d e n ............ ..............
91 E d m o n to n to S to n e y P la in s ____
21
52
G ilbert P is. J e t. t o P rin ce A l b e r t .361 G reen w ay t o A d e lp h a ...................
60
R ossbu rn J e t. to R o ssb u rn - - . .
79 O ak P t. J e t. t o Oak P o in t .............
W in n ip e g T ran sfer L i n e ...............
A riz o n a J e t. to M orris and B ran
256
d o n J e t — .......................................
77 |Q u ’ A p p .L o n g L . A S a sk .(le a se d )
T o t a l Ju n e 30 1908 (In clu d in g a b o u t 710 m iles le a s e d )---------------------- 2,895
E x te n sio n fro m B ran don , M an ., to R e g in a , S a sk ., 220 m iles, w as op en ed
In N o v . 1908; also O akland b ra n ch , 28 m iles.
In F e b . 1909 exte n sio n from
E d m o n to n t o w est co a s t o f C anada a t V a n co u v e r, a b o u t 750 m iles, w as
p roposed.
O R G A N I Z A T I O N .— T h e M an itob a lines o f th e N orth ern P a cific R y .,
351 m iles, are su b let fro m th e P ro v in cia l G o v ’ t fo r 999 years from M ay 3 0
1901 a t $21 0,00 0 a n n u a lly fo r the first ten years, then $22 5,00 0 fo r ten years,
th en $27 5,00 0 fo r ten years, and thereafter $30 0 ,0 0 0 , w ith o p tio n o f p u r
chase fo r $ 7 ,0 0 0 ,0 0 0 .
M an itoba G o v ’ t has o p tio n to purchase entire prop e r t y ln l9 2 9 .
Canadian N orthern R y . S ystem T e rm in als In co rp o ra te d S e p t .
1907 w ith $ 2 ,000,000 s to c k .
15
21
17
11
J u l y . 1009.]
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[ V O L . L X.XX IX ,
RAILWAY STOCKS AND BONDS.
24
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b le s.
C a n adian N orthern O n ta rio— G uar d e b s to c k (see te x t)
P erpetu a l c o n s o lid a te d d eb e n tu re s t o c k .........................
Canadian Nor— L M an R y te Can C o 5 8 ,000 p m l
C anadian N orth D lv 58,000 per m i l e ............... G uar
M a n itob a & S E (a s s u m e d ,"58,000 p e r m ile
G ilbert P la in s B ran ch $8,000 p er mille
ile .............
by
O n ta rio D lv 1st M d eb £ 4 0 ,7 0 0 are 4 H s ........... M an.
M an itoba B ran ch t i n e s . .................... ...................G o v t.
First co n s d e b M (M an lines) $10 ,000 p m .c & r j
M a n itob a P ro v in cia l b o n d s, $8,000 per m ile ...............
P erp etu a l c o n s o l deb en tu re s to c k (V 81 p 1 6 0 9 )-----First M d eb stk $13,000 p m gu ar b y C anadian G o v t
1st M s to c k $ 13 ,000 p m guar b y D o m o f C a n a d a ..
F lrst m tg e d eb en s to c k gu aran teed b y Sask atch ew an
do
do
gu aran teed b y A lb e r ta ________
Q u 'A p L on g L a k e & Sask 1st M £ 1 ,0 5 0 ,0 0 0 guar . .
1st land g ra n t M red 110 (m o n e y d e p o s to redeem )
do
do
£1,027,400 red 105 t o J u ly ’ 17
Im p erial R o llin g S to c k 1st M ser A part d u e y e a r 'y .
do
do
ser B t o F $210,000 due y ’ rly
do
do
ser G $ 45 ,000 d u e y e a r l y . . .
do
do
s e r H $60 ,000 d u e y e a r l y . . .
do
do
ser K $10 0,00 0 d u e y e a r ly ,
do
do
ser L $250,000 d u e y e a r ly .
do
do
p a rt due y e a rly (V 85 p 599)
do
do
ser N & O $ 2 0 0 ,000 d u e y ly .e *
do
do
ser P $10 0 ,0 0 0 d u e sem -a n .
do
do
ser Q d u e $ 27 ,400 q u a r ------do
do
ser R $ 17 0,00 0 y r l y ...............c*
do
do
ser S $ 1 0 0 ,0 0 0 ----------------------c*
do
do
ser T $ 1 5 0 ,0 0 0 --------------------- c*
Can Nor Q u eb ec— G t N or c o n s M $ 7 ,9 6 2 ,0 0 0 (t e x t ).C e
P erp etu a l gu aran teed d eb e n tu re s to c k (see t e x t ) . . .
C a n adian P a cific— S to ck $ 2 0 0 ,0 0 0 ,0 0 0 a u th o r iz e d -----P referred s to c k lim ited to 4 % n o n -c u m u la tlv e -------r
IN T E R E S T OR D IV ID E N D S
M ile s
of
R oad
268
125
177
108
27
287
D a te
of
B on ds
1908
1909
1896
1899
1899
1900
1901
1904
1903
1908
1909
1909
1906
1009
1902
1903
1904
1904
1905
1006
1906
1907
1907
1908
1909
1909
1904
S i z e , or
Par
V a lu e
A m oun t
O u ts ta n d in g
£1,615,067
£800,000
£100
£100 l See f
£101 1 t e x t . I
£100
£100 £1 180,600 4
$101,000
'£100 £ 2 .4 3 6 ,2 0 0
349.000
$500
£100 £ 4 .9 4 2 ,7 5 0
£ 1 ,9 2 3 .2 8 7
See te x t
£600,000
£600,000
S ee te x t
£100 $2,000,000
£100 &c See te x t
$1,000 $700,148
$ or £
$ or £
500 &c
500
500 &c
5 0 0 ~&c
500 tec
500 te c
500 &c
8 40 .000
270.000
$123,249
$760,000
1 .700.000
450.000
1.60 0 .0 0 0
1,600,000
$328,800
1.530.000
1,000,000
R a te
%
3H
V a rio u s
A & O 2
4
4
F & A
4
F te A
4
4
4 4 H C J & D 30
J & D 30
4
J & D 30
4
4
J & D 30
4
M 31-S30
A
AH J 20-J 20
J
& D
4
& D
4
te
J
4
& A
4 g
&
J
4
M & N
F & A
M & S
5
4H g A
4H g J
4H g M
4Ke .1
4H g F
6
4H e M
4H g
1 .500.000
4H g
4
$3,078,750
4
£1,0 3 .855
100 1 50 ,000 ,00 0 See text
4
100A b t 53803332
T h e C an adian N orth ern O n ta rio an d th e C anadian N orth ern Q u e b e c rail
w a y s , allied c o m p a n ies , w ill a ffo r d access to T o r o n t o , O tta w a , M o n tre a l,
t^UI<n,<M ay *1907 th e sam e Interests w h ich co n tr o l th e C anadian N orth ern
R y . a c q u ir e d co n tr o l o f Q u e b e c & L a k e S t. Jo h n R y ., w h ich c o m p a n y Is
now o p e ra te d u n d er th e sa m e m a n a gem en t as the C anadian N orth ern Q u e
bec R y .
L in e fro m Q u e b e c t o R o b e r v a l, o n L a k e S t. J o h n , 190 m ., w ith
bran ch es C h a m b ord t o C h ico u tim i, 51 m .. an d fro m L a T u q u e J e t . to L a
T u q u e , 40 m .; G osford b ra n ch , 5 ‘A m .; to ta l, 2 8 6 H m iles.
In D e c. 1908 the s to c k o f th e D u lu th R a in y L a k e & W in n ip e g R y . , e x
ten d in g fro m V irg in ia , M in n ., n o rth to In tern a tion a l Falls, 98 m ., w as
a c q u ir e d b y th e sam e Interests as co n tr o l th e C anadian N orth ern R y ., and
w ill be e x te n d e d to D u lu th , 75 m iles.
In c o n n e c tio n w ith th e a cq u isitio n
o f th e a b o v e c o m p a n y , there has been o rgan ized th e D u lu th W in n ip e g te
P a clilc R y ., w h ich w ill c o n tr o l th e D u lu th R a in y L ake & W in n ip e g a n d c o n
s tru ct th e e x te n s io n fro m V irg in ia , M in n ., t o D u lu th , a b o u t 75 m ., and
b u ild bra n ch es a n d spu rs, & c., fo r Industrial an d m in in g p u rposes; also d o c k s
at D u lu th , w h ere v a lu a b le sites fo r term in als h ave alre a d y been secu red.
T h e Q u 'A p n e lle L o n g L a k e te S ask atch ew an H R . te S. B . C o. e x te n d s fro m
R eg in a t o P rin ce A lb ert, 256 m iles. C on trol o f this co m p a n y w as a cq u ire d
b y th ose In c o n tr o l o f th e C anadian N orth ern R y . In D e c. 1906, holders o f
the o u ts ta n d in g $ 3 ,8 0 9 ,1 4 0 b o n d s be in g offered a t the rate o f £107 fo r each
£100 b o n d In 4 % deb en tu re s t o c k , prln . an d ln t. gu aran teed b y th e Cana
dian N orth ern R y . C o. T h e Q u ’ A p p elle L o n g L a k e te Sasic. R R . & S . B.
C o. w as leased t o th e C anadian N orth ern R y . C o . a n d has been o p e ra te d
3inS T (X ?K A N D 9B O N D S .— S to c k a u th o riz e d , $65 ,0 0 0 ,0 0 0 ; p a r, $ 10 0. N on e
o f this s to c k has y e t been p u t o n th e m a rk e t.
In 1903-08 £4,942,750 4 % co n s o lid a te d de b e n tu re s to c k w as Issued u p o n
m ileage, a n d t o p u rch ase securities o f v a rio u s co n tro lle d p ro p e rtie s d e
posited w ith th e N ation a l T ru st C o .
. _
_
„ „
In J u ly 1908 the N iagara S t. C ath arine te T o r o n to R y . C o ., N iagara F alls,
N . Y .. t o S t . C ath arines. C a n ., t e c . , 43 m iles, w ith p ro je cte d e x te n sio n s,
w as a c q u ir e d b y a llied Interests.
, . . . T
„„
.
T h e d e b e n tu re s to c k Is secu red b y tru st d eed d a te d Jun e 30 1903 as first
m tg e. to th e B ritish E m p ire T ru st C o ., L t d ., L o n d o n , E n gla n d , an d the
N ation a l T r u s t C o ., L t d ., T o r o n t o , O n tario.
the line fro m G rand V iew to E d m o n to n , 620 m iles, a t $13 ,000 per m ile,
such first ch a rge t o b e , h ow e v e r, lim ited t o $10 ,000 per m ile in resn ect o f the
line fro m G ra n d V iew to the w estern b o u n d a r y o f M an itoba.
A d d itio n a lly
secu red b y first lien o n the e x te n s io n o f the P rin ce A lbert branch t o Prince
A lbert fro m a p o in t 100 m iles east: b y se c o n d Hen o n th e p o r tio n o f the
P rin ce A lb ert b ra n ch ru n n in g fro m E rw o o d t o a p o in t 100 m iles fro m P rince
A lb ert, a n d b y ch arge o n o th e r lines th en co n s tr u c te d - a n aggregate o f
£ 2 ,436,200 4 % first m tge . co n s o lid a te d d e b e n tu re b o n d s, prln . and int.
g u aran teed b y th e G ov ern m e n t o f M a n ito b a , d a te d Jun e 30 1904, secured
b y first m tg e . to N ation a l T ru st C o ., L t d ., T o r o n t o , O n tario (n o t e x c e e d in g
$10 ,000 per m ile ), co v e r in g certa in lines In th e P r o v in c e o f M an itoba
a m o u n tin g t o a b o u t 1,185 m iles, a p r o p o r tio n o f th e a m o u n t o f th is Issue
being h eld In tru st b y the N ation a l T ru st C o ., L t d ., fo r the e x ch a n g e o f the
fo llo w in g Issues y e t o u tsta n d in g : (a) £105,300 M an itoba te Sou th ea stern
4 % first lien o n 108 m iles, W in n ip e g to ea ste rly b o u n d a r y o f M an itoba
(b y an “ a m a lg a m a tio n a gre e m e n t” b etw een the C anadian N orth ern R y .
an d the M anitoba te S outheastern R y ., all outstanding, o b lig a tio n s o f latter
road w ere assu m ed b y the C anadian N orth ern R y .) ; (M £233,700 C anadian
N orth ern R y . , S ifto n b ra n ch . 4 % b o n d s secu red on 197 m iles, S lfto n J u n c
tion t o E rw o o d , gu a ra n tee d , prln . an d ln t ., b y M an itoba G o vern m en t
(cl £10,000 L a k e M a n itob a R y . te Canal C o . 4 % b o n d s first lien o n 125 m iles,
G lad ston e to W ln n lp eg osls, gu aran teed as t o prln . and ln t. b y th e M anitoba
G ov ern m en t: ( d 1 £1,700 G ilbert Plains 4 % b o n d s, a lien o n 27 m iles, D a u
phin t o G rand V iew , gu a ra n teed b y M an itoba G o v e rn m e n t.
L A N D G R A N T B O N D S .— $2 ,0 0 0 ,0 0 0 first m tg e . 4 % lan d g ra n t b o n d s
A re secu red b y 1,365,333 acres o f land gran t subsidies fro m D o m in io n o f
C a nada.
In terest on the b o n d s p ro v id e s fo r tw o h a lf-y e a rly p a y m e n ts o f
W h en
P a y a b le
M
M
A
J &
A
A
&
te
&
O
D
N
&
D
&
A
S
& S
& S
& O
n 31
te O
te O
te
W h ere P a y a b le, an d by
W hom
B on ds— P rln d ~
p a l• W h en D u e
S to c k s — L a s t
D iv id e n d
Can B k o f C o m m e rce ,L o n 1936 an d 1938
6 m o s ln t A p ril 2 1910 P erpetual
A ug 1 1926
F eb 1 1929
Can B k o f C o m , N Y ;& L o Feb 1 1929
N o v 1 1930
June 30 1930
L on don and T oron to
June 30 1930
L o n d o n , T o r o n t o A N Y June 30 1030
Can B k o f C o m m , T o r O ct 1 1930
Irred eem a ble
L on don, Eng
J u ly 10 1953
do
1958
Lon don, E ng
1939
Lon don
1939
do
do
Can B a n k o f C o m m , L o n J u ly 1 1036
v a t T r C o , T o r . o r L o n d . F e b 1 1919
Ju ly 1 1938
L o n d o n , E n g.
C B k o f C om N Y ; o r T oi N o v 1 1 9 0 9 - 1 2
do
o r L o n d o n . Eng A u g 1 1910-’ 13
do
T o r o n t o or L on S ept l 1909 14
1909-1914
do
do
N Y , L o n d o n o r T o r o n to O ct 1 1909 15
June 1 10 1 0 -T 6
do
do
N o v 1 1 9 0 0 -1 6
do
do
June 1 t9 1 0 -’ 17
do
do
F e b ’ 10 -A u g T 7
do
do
Can B a n k o f C o m m , N Y M ay 1912
N Y , L o n d o n an d T o r ’ to Mch 1 1910-18
M ch 1 1910-19
do
do
S ep 1 1 91 0-’ 19
do
do
Can B k o f C o m .N Y ;& T o r O ct 1 1934
N Y T o r o n t o & L o n d o n P erpetua l
L o n d te 31 P ine St N V A p r 1 1909 3 H
C o m p a n y ’ s O U Ice, L on d A p r 1 1009 2 %
w h ere a co n n e c tio n w ill be m ade w ith th e C anadian N orth ern IW• F o r ty
m iles o f this e x te n s io n w ill b e co m p le te d this fa ll. A t a P o in t n o rth o f
S e llw o o d a b ran ch line w ill be bu ilt Into th e G o w g a n d a S ilver IM stu ct, thus
securin g t o th e C anadian N o rth e rn O n ta rio R y . the c n tlre tr a ffic o f this
im p o rta n t te r rito r y . T h e exte n sio n fro m H a w k e sb u ry to Ottaw a C ity w 111
be c o m p le te d w ith in on e m o n th , a n d In c o n n e c tio n w th th e C anadian N o rth
ern Q u e b e c R y . a th ro u gh train se rvice w ill be e sta b lish e d b e t t ^ e n O tta w a ,
Q u e b e c a n d M on treal.
O w ns m odern o re -h a n d lin g p la n t a t K e y H a rb or,
80 m iles fro m M oose M ou n tain Iron m in es.
O R G A N I Z A T I O N .— N orth ern R y . fo rm e d u n d e r law s o f O n ta rio i n l 8 9 5
as the Jam es B a y R y . C o ., the n a m e b e in g ch a n g e d to th e p r e ^ n t s ty le In
Ju n e 1906. C o n tro lle d b y th e sam e Interests as th e C a n a d ia n N
C apital s to c k (shares $ 1 0 0 ), a u th o riz e d , $ 1 ,0 0 0 ,0 0 0 ; Issued Jun e 30 1908,
$25 0,00 0.
F u n ded d e b t o u ts ta n d in g , £1,615,068 9s. 7 d .; d e b e n tu re s t o c k ,
3 1 4 % , d u e J u ly 10 1936 and Jun e 30 1938, Interest M ch . 31 an d b e p t. 3 > and
Dem 31 a n d Jun e 3 0 .
A u th orized a t $ 20 ,000 per m ile.
I rln clpal an d Inter
est gu aran teed b y th e G o ve rn m e n t P r o v in c e o f O n ta rio .
T rustees ror
deb e n tu re s, B ritish E m p ire T ru st C o ., L t d ., L o n d o n , E n g ., and th e N ation a l
1
rri*ntJu n e 1909’ ’£800,000 4 % p erpetual c o n s o lid a te d d e b e n tu re s to c k w as
offered In L o n d o n at 92, p a y a b le £5 on a p p lic a tio n , £10 on a llo tm e n t, £37
S e p t. 6 1909, £40 on Jan . 6 1910, secu red b y first m ortg age on a line o f
ra ilw a y alre a d y co n stru cte d fro m H aw k e sb u ry t o O tta w a w ith a d d itio n a l
charges o n o th e r lines as fu rth er s e cu rity .
. ,
. T. , ..
D IR E C T O R S .— W illia m M acken zie, D . D . M ann, F rederic M c h o lls ,
W . H . M oore, L . W . M itchell, Z . A . L a sh , all o f T o r o n t o , O n t.; an d R . M .
H n rn fi-P avn c. L o n d o n , Knir.
„ , __ „
O F F I C E R S .— P re s., W illia m M ackenzie; V . - P . , D . D . M ann; 3 d V .- P .,
D . B. H an n a; S e c ., W . H . M oore, all o f T o r o n t o , O n t. O ffic e , T o r o n t o ,
0 l CAJN A D IA N N O R TH E R N Q U E B E C R Y . - ( S e e M a p C a n a d i a n N o r . R y )
O w ns m ain line H a w k esb u ry to R iv ie re a P ierre, 169 m iles; M ontreal to
J o lle tte , 3 6 .2 0 m iles; M o n tfo rd to H u b e rd e a u , 33 m iles; S t. Jerom e t o a t .
S au veu r, 15.1 m iles; S t. Ja cq u e s J u n ctio n t o S t. J a cq u e s, 7.2 m iles; bh a w ln lean J u n ctio n t o S ha w lnlgan, 4.5 0 m iles: S t. Je ro m e J u n ctio n to S t.
Jerom e, 1.70 m iles; G arneau to Q u e b e c, 84.19 m iles; to ta l, 350 .87 m iles.
O w ns e le v a to r , ca r sh o p s, & c., a t Q u e b e c.
F o rm e d In 1906 b y th e a m a lg a
m ation o f the G reat N orth ern R y . o f C anada, the C h ateau gay & N orth ern
R y C o a n d the Q u e b e c N ew B run sw ick & N o v a S co tia R y . C on trolled
b v the sam e Interests as th e C anadian N orth ern R y .
C apital s t o c k , $12 ,5 0 0 ,0 0 0 , o f w h ich $3 ,0 0 0 ,0 0 0 is issued as s ta tu to r y
s to ck w ith a certa in p referen ce as to d iv id e n d .
S E C U R I T I E S .— O n O ct. 22 1906 an Issue o f 4 % perpetu al de b e n tu re
s to ck g u aran teed b y the C anadian N orth ern R y . w as au th o rize d to an
am o u n t s u ffic ie n t t o take u p the b o n d s o f c o n s titu e n t co m p a n ie s, t o m eet
co st o f lines now un d er co n s tr u c tio n , p r o v id e fo r c o n s tr u c tio n o r a cq u isition
o f ad d itio n a l lines a t not exce e d in g £4.109 ($20,000) p er m ile o f su ch lines,
a n d w ith th e co n s e n t o f the trustees fo r th e sto ck h o ld e rs to p ro v id e for the
rm rehase o f the sto ck s an d securities t o a n a m o u n t n o t e x ce e d in g th e co s t
th e re o f
In O c t. 1906 £1,000,000 o f th is s to c k w as issued to take up the
entire b o n d Issues o f the C h ateau gay te N orth ern R y . and th e Q u ebec N ew
B ru n sw ick & N o v a S co tia R y . and $ 1 ,5 1 4 ,5 0 0 b o n d s o f th e G reat N orth ern
R v Co o f C a nada, an d since th a t date £38.555 o f sto ck w as issued to take
u n 'a n a d d itio n a l a m o u n t o f G reat N orth ern R y . C o. o f C a n ada 4 % b o n d s.
In terest p a y a b le Jun e 30 an d D ec. 3 1 . T o t a l a m o u n t o u ts ta n d in g . £ 1 ,
038 8 5 V secu red b y sp ecific llrst m o rtg a g e u p o n a n y securities a cq u ire d as
a b o v e a n d d e p o s ite d w ith th e trustees an d b y first general lien u p on en tire
DroDertv o f c o m p a n y (o th e r than land a n d m o n e y s u b s id ie s ),s u b je c t o n ly
t o the b o n d is s u e s o f th e a m a lg a m a te d co m p a n ie s, w h ich b o n d s w ill be
retired as so o n as e v e r y b o n d o f ea ch series has been e x ch a n g e d fo r stock
o f this issue
T h e s to c k b o o k s are k e p t a t th e L o n d o n o ffic e , B on d C ou rt,
W Inb mkUUon " o ” h'e *4'% p erpetiial d e b e n tu re s to c k o u tsta n d in g there has
aisn Y een Issued $3 678 750 4 % b o n d s o f th e G reat N orth ern R y . o f C anada
t g u a r 'a s R l n
a n d lAt b y C a n a d ia n N orth ern R y .) o f w h ich the C entral
T Y u st'C o. o f N ew Y o r k h olds $ 6 ,5 0 0 .
B o n d s fo r e x ch a n g e fo.r th e u n ex-
54 £^ ,027,400' F i r s t M t g e . 4 % L a n d G ra n t D e b e n tu r e B on ds.— T h e se b o n d s
are secu red o n 1,250,000 acres o f lan d (sp e cia lly set aside as p er sch edu le
in m tge.) In th e P rovin ces o f M a n ito b a an d S a sk a tch ew a n , o f w h ich 239,000
acres h a v e, sin ce sales o f the lan d co m m e n ce d In 1907, been s o ld , p ro ce e d s
o f w h ich h ave been paid o v e r t o the tru stees.
£40,000 o f the a b o v e Issue
has been alrea d y retired , as p r o v id e d In the tru st d e e d securin g th e Issue
d a ted J u ly 1 1907.
, x
t
,
,
In J u ly 1908 th e D o m in io n G o v e rn m e n t a greed t o guaran tee prln. and
in t. o f
50-year b o n d s o r de b e n tu re s to be Issued a t $13,000 per m ile
on 609 m iles o f bran ch es In M an itob a an d S a sk a tch ew a n , a n d c o n tr a c ts are
now und er w a y fo r th e c o n s tr u c tio n o f these lines.
In Jun e 1909 £600,000 4 % first m tg e . de b e n tu re s t o c k , p rln. and Int.
g u aran teed b y th e G overn m e n t o f the P r o v in c e o f S ask atch ew an and
£60 0,00 0, p rln . an d In t., gu aran teed b y the G o v e rn m e n t o f the i r o v ln c e
o f A lberta, w ere offereff In L o n d o n , secu red b y separate deeds o f trust,
the a m o u n ts now Issued b ein g a t $13 ,000 per m ile, w ith the rig h t reserved
to Increase the a m o u n t t o $15 ,000 a n d to Issue a d d itio n a l s to c k o r bon d s
s ecu red b y said deeds for a d d itio n a l lines In said p r o v in c e s .
V . 8 9 , p . 40
Thornas M cD o u ga ll, th e M a y o r o f Q u ebec,
H
p
nnri ri \i I rnrnp-Pnvno L o n d o n , L n g .
P re s ., I). l>. u a n n a , v . - i . ,
H . H . MelvUle” 2d v f - P . , F re d e ric N ich olls; S e c ., W . II. M o o re ,, all o f
T o r o n t o , O n t.— (V . 84, p . 693, 748.)
C A N A D IA N P A C IF IC R Y .— R O A D .— O w n s a trans co n tin e n ta l railw ay
from M ontreal to the
cific O ce a n , m a d e u p as fo llo w s Ju ly 1 1908.
'
“P a clf
_____
M ontreal t o ^ V a n V u v e r - - - - - - 2?,9o0n8« U
n d e________________
r c o n s tr u c tio n _____
J u ly l 1908 7 0s
O pre*ra
a cco u n, t oof f oowwnneerrss. . . . 262
B ran ch es a n d a u x ilia r ie s ........... 2.748 «w
t ete, .d —
A ls o co n tr o lle d bu t o p e r . s c p .—
L eased lin e s ---------- ---------------------ln n . S t. P. te Sau lt S tc . M . .2 ,3 5 8
U sed Join tly _____________________
94 aM
a D u lu th S o u th S hore te A tla n tic 592
9,4 2 6
« S e e each c o m p a n y ’s sta te m e n t.
B ran ch 1 T o r o n t o “to ™ S u d b u r y !‘ 226 m iles / w as o p e n e d .! une 15 1908
also ex te n sio n o f P leasan t H ills b ra n ch , 126 m iles.
V . 8 6 , p . 1409.
In
N o v 1908 163 m iles o f exten sion s w ere o p e n e d .
In J a n . 1909 purchase of
co n tro l o f W isco n sin C entral Dy M in n. S t. P a u l te Sau lt S te . Marie was
E8A R l& iN G S7.— U 9m o s ., 1 1 9 0 8 -0 9 __ G ross, $ 8 ,8 6 3 ,0 0 0 ; n e t, $2,56 2 ,9 0 0
J u ly 1 t o M ay 3 1 .
J19 07-08____ G ross, 8 ,3 3 8 ,0 0 0 ; n e t, 2 ,2 7 2 ,2 0 0
R E P O R T — R e p o r t fo r the y e a r e n d in g Jun e 30 1908 sh ow s: G ross
earnings $ 9 ,7 0 9 ,4 6 2 ; net earn in gs, $3,0 3 2 ,6 8 6 ; charges, $ 2 ,3 5 3 ,7 5 7 : su r
plus. $6 7 8 ,9 2 9 .
fIcers;9 2 Pres . W illia m M ack en zie; V .- P ., D . D . M ann; 3d V . - P „ D . B.
O fficers:
ia - See
W H . M oore; all o f T o r o n t o , O n t.
D irectors: W illia m M acH anna;
lc ’ r> f> M ann. Z . A . L a sh , F rederic N ich olls, all o f T o r o n t o , O n t.,
in
~
r o___
a n d R.’ M .' H o rn e -P a y n’ e . L
n dI__
o nItr
,'E nOil
g la „n d .— (V . 88, p . 1*10.
1619; V
V . HQ
89, n
p . 40.)
C A N A D IA N N O R T H E R N O N T A R IO R Y .— (S e e M a p C a n a d ia n N o rth e r n
.
\
n
____m
_____
__
i.n
Cn/IKiivtr
OAQ
line
u
IMi
PTfonqlonq
t
o
SiolInrnoH
R y . ) — o w n s T o r o n t o to S u d b u r y , 268 m iles, w ith ex te n sio n s to S e llw o o d
(M oose M ou n tain Iron m in e s), 33 m iles; bran ch es, 9 m iles; to ta l, 310 m iles.
F r o m Sellw o o d the m ain line Is now being e x te n d e d tow a rd s P o r t A rth u r,
C0?U S T O *R Y E T C .— In c o r p o r a te d F e b . 18 1881 u n d er ch arter from D o
m in ion o f C a n ad a, re ce iv in g $ 2 5 ,0 0 0 ,0 0 0 In cash as a s u b sid y ; also 2a Ouo.000 acres o f lan d, ail to be lit fo r se ttle m e n t.
O perates tr a n s -A tla n tic and
P a clilc steam sh ip lines: also steam ers t o A laska.
S T O C K .— T h e issue o f p referred m u st n e v e r e x c e e d o n e -h a lf the c o m m o n
s to c k .
In 1908 £1.000,000 p re fe re n ce s to c k w as s o ld ; total o u tsta n d in g
J u ly 1908, $4 8 ,8 0 3 ,3 3 2 . V . 8 4 . p . 3 3 3 . , c 9 3 V otc3
M arch 19 1906 to Increase th e c o m . s to c k to $ l
,uou.uou. o f the new
s t o c k , $20 ,2 8 0 ,0 0 0 w as then su b scrib e d fo r b y sto ck h o ld e rs pro rata at par.
$ 2 4 ,336 ,00 0 In 1908 an d In F e b . 1009 $ ,
w as s o ld , raising the
a m o u n t o u tsta n d in g to $ 1 5 0 ,0 0 0 ,0 0 0 .
V . 82, p . 333, 691; V. 86, p. 601:
V . 8 8 . p . 563. S to ck h o ld e rs v o t e d O ct. 7 1908 to Increase a u th orized c o m
m on s to c k to $ 2 0 0 ,0 0 0 ,0 0 0 , n o n e , It w as s a id , to b e Issued Im m ed iately
3
V
1
50
3 984,000
Voii. L X X X I X .
RAILWAY STOCKS AND BONDS.
2 6
R A IL R O A D S
IN T E R E S T
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , see n o te s
o n f ir s t p a g e o f ta b les
M ile s
of
R oad
D a te
of ■
B onds
S iz e , or
Par
V a lu e
OR D IV ID E N D S
A m oun t
O u ts ta n d in g
R a te
%
W h en
P ayab e
W h ere P a y a b le, and by
W hom
£ 9 7 3 ,3 3 3
£1 0 0
£ 1 0 0 A c 34.9 9 8 633
3 .6 5 0 ,0 0 0
£100 A c
£1 A c 115 ,657 ,07 8
6
6 g
5 g
4
V a riou s
J
A
J
A
J
J
A
J
J
M ontreal
Baring Bros A C o , L on d
B a rin g B ros A C o ,L o n d o n
C o m p a n y ’ s o ffic e , L o n d .
R on d s— P r in c i
p a l, W h en D u e
S to c k s — L a s t
D iv i d e n d
Canadian Pac (C on clu d ed ) —
C a n ada C en tral H R seco n d m o rtg a g e (n o w f i r s t ) ..
F irst m o r tg a g e d eb en tu re s ste rlin g -----------------------1st M ort o n A lg o m a Br g ------------------------------- c '& r
C on sol perpetu al d eb en tu re s t o c k __________________
269
3.221
, 183
...
S e c u r itie s o f P r i n c ip a l L e a s e d , A c . , L in e s .
1880
1885
1888
1889
O
O
M an itob a S VV Col R y $12 ,000 per m ile Int guar gold
218 1884
A D L o n d o n A 31 Pine St N Y
J
1,000 $ 2 ,544,000
5 g
A tla n tic & N orth w est— 1st m o rtg a g e gold g u ._ c * A r
350 1887
A
J
J B aring Bros A C o , L on d
£100 A c £1,330,000
5 g
S t L a w ren ce & O tta w a — tlrst m ortg age gold see text
58 1876
(6) 4
£50 A c
£200,000
J A D 15 Can P a c o ffic e , L on don
O n ta rio A Q u eb ec s to c k guaran teed In p e r p e t u it y ..
6
A D M ontreal and L o n d o n
J
$100 $2,000,000
O n ta rio A Q u eb ec d eben Interest guar In perpetu ity
671
A D M orton , R o s e , L o n d o n
5
J
£1 £4,007,381
T o r o n t o G rey A Bruce 1st M gold Interest as rental
191 1883
A
£719,000
J
J T o r o n t o and L o n d o n
£100
4 g
N ew B run sw ick R y 1st M gold lnt from re n ta l____ c "
174 1884
£030,000
F A A Lon don
£100
5 g
P erpetual con sol d eb e n tu re s t o c k , Interest g u a r . .
1890
£904,533
4
A
J
J
£1
C a lga ry A E d m o n to n d e b s to c k gold Interest as rent
___ 1890
J 3 A
£ 1 ,1 2 1 ,7 0 0
J Can P a c O ffic e , L on don
4 g
B ranch line b on d s $ 1 ,0 4 0 ,0 0 0 (ow n ed b y CanPac)
52 1905
&
4
1,000 $1 .040,000
J
.1 Can P a c O ffic e , M ontreal
L in dsay B o b ca y g A P o n ty p o o l 1st M $700,000 gold
40 1903
500.000
A
1,000
J
J Bk o f M o n tre a l, T o r o n t o
4 g
M inn S t P A S au lt Ste M arie and D ulu th S ou th Shor e A A t lan tlc — See sta tem en ts o f those co m pan lcs
Cane Belt— See t e x t ; also A tc h is o n T o p e k a A San ta Fe
Carolina Central — B o n d s — See S e a b o a rd A ir Line R y
C arol m i C lin ch tield A O h i o F irst m ortg a g e $1 5 ,0 0 0 ,0 0 0 re 1 1 1 0 ..... ...................Fc*
11IMK
1 ‘ '
5 g
J
A D B lair A C o , N ew Y o r k
10 000 000
E q u ip m en t g old n otes ser “ A ” due $130,000 s a .B a
___ 1908
do
do
1.000
2 ,4 7 0 ,0 0 0
,T A D
5 g
C a rth a g e & A d ir— 1st M $ 1 ,6 0 0 ,0 0 0 g old g u .U n ,c * A r
46 1392
1.100,000
1,009
A D G rand Cent S ta tio n , N Y
J
4 g
C a rth a g e W a ter & Sack H ar— 1st M g gu p A 1 e n d . .
29 1891
1 .000
do
do
300 .000
5 g
J
A
J
C a ta sa u q u a & F o g e ls v ille — First m tge g o l d - .P e P .c *
___ 1898
1,000
135,000
,T A
g
J R e a d in g T e rm in a l, P h lla
C a ta w issa — P ref stock s 5 % guar P A R R y (see text)
98 ____
50
3,2 0 0 ,0 0 0
5
M A N C o m p a n y ’ s O ffic e , Ph lla
First con sol m ortg age $ 2 ,2 1 5 ,0 0 0 g o l d ___P eP .c*
103 1898
do
do
1,000
2 215,000
A A O
g
Cat skill M t’ n — 1st M ($2,000 n o t e x t fro m 1 0 0 5 )_____
16 1885
1,000
39,000
F A A T a n N at B k Catsklll N Y
First Incom e b o n d s ___________________________________
___ 1885
100 A c
2 .9 1 0 4 2 % p aid In S e p t’ 07
238,000
6
C a y u g a & S u sq u eh an n a— S to c k 9 % rental D L A W .
34 ____
30
589,110 See text J
A
J 30 Pine S treet N ew Y ork
C edar R a p id s Iow a Falls & N o rth w e ste rn — See C hlca g o R o clt Isla nd A P a c Iflc R y and R o c k Isl and Co
C entral B r a n ch — C entral B ra n ch U P 1st M g - .U n . c *
100 1898
1,000
2,5 0 0 ,0 0 0
J
A D M ercantile T ru st Co N Y
4 g
Central B ran ch llrst m ortg age gu aran teed g o l d ..M e
288 1899
1,000
3 .4 5 9 ,0 0 0
F A A
do
do
4 g
Cen tral o f G eorgia R y — 1st M $ 7 ,0 0 0 ,0 0 0 g o l d .G . c ’ Ar
312 1895
7 ,0 0 0 ,0 0 0
1,000
F A A G u aran ty T ru s t C o N Y
5 g
C on solid a ted m ortg age $1 8 ,5 0 0 ,0 0 0 g o l d . . M e.c* Ar 1,493 1895
1,000 18,200,000
M A N
do
do
5 g
M ob ile D lv 1st M (C olu m bu s to A n dalusia ) g ___G .c*
138 1895
1,000,000
1,000
J A J
5 g
do
do
M acon A N orth D lv 1st M $84 0,00 0 g o ld ___M B a.c*
102 1895
1,000
840 ,000
J
A
J
do
do
5 g
O co n D lv 1st M B rcw ton to D o v e r $6,000 p m .- S .c *
77 1901
1,000
462.000
J
A D
5 g
do
do
4
4
5
V . 8 7 , p . 61 3 , 936 , 100 8. I n J u ly 1900 a b o u t $ 5 ,0 0 0 ,0 0 0 pre fe rre d s t o c k
w as sold In L o n d o n . V . 8 9 , p . 162.
D I V S .—
’ 9 0 -’ 94. ’ 95. '0 6 . ’ 97. ’ 98. 99. ’ 00. ’ 01. ’ 02. ’ 03. '0 4 t o A n r ’ 00
• C om ,
15 y e a r ly 0
2)S 24$ 4 43 4
5 4$ 5
5
5 4$ 6 y e a rly
P r e f. % ___j Issued In 1894.
4 % y e a rly ( 2 % A A O ) .
• A lso 1 % e x tra w as p a id In 1907 from Interest on lan d sales, v iz . 4$ %
A p ril 1 a n d 43% S e p t. 30; In 1908, 1 % (A A O ); 1909, A p ril, 4 3% .
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 .—
L is t o f secu rities held against c o n s o lid a te d d eb en tu re stock In V . 87, p.
.
In J u ly 1908 $11 5 ,6 5 7 ,0 7 8 d e b e n tu re s to c k w as o u ts ta n d in g , £1,975.000
b e in g so ld In 1908.
V . 86, p . 545.
In Ju n e 1890 c o m p a n y agreed to g u a r a n te e the prin cip a l and Interest o f
$ 2 0 ,0 0 0 ,0 0 0 4 % b on d s to be Issued by the D ul. S o. S h. A A t l.; also 4 % Int.
o n c o n s o lid a te d b on d s o f the M inn. S t. P . A S. S te . M ., an d In 1899 Interest
o n th e s econ d m tge 4s o f th e latter, an d In 1001 Interest o n $ 1 ,254,000
M ineral R a n g e 4 % b o n d s, th e last n a m e d being all o w n e d Jun e 30 1908.
O w n s D ul. S. S. A A tl. c o n so ls. $ 1 5 ,1 0 7 ,0 0 0
S t . L a w r e n c e A O ttaw a b o n d s are en d orsed w ith the C a n adian P a cific's
a c c e p ta n c e o f a 999 yea rs’ lease at a rental su fficie n t to p a y 4 % Interest on
b o n d s , and the b o n d h o ld e rs ’ a g reem en t to a c c e p t Interest at 4 % (Instead o f
6 % ) and to refrain from d e m a n d in g prin cipa l (due 1910) during lease.
T h e N e w B r u n s w ic k R a ilw a y c o n s o lid a te d d eben tu re s to c k has Interest
g u a ra n teed b y C a nadian P a cific: Interest on th e 1st m tg e . b o n d s, th ou gh
n ot g u a ra n teed , Is p aid ou t o f ren tal und er 990 -year lease o f 1890.
T h e C a lg a r y & E d m o n to n R y . d e b e n tu re s to c k Is g u aran teed Interest at
4 % u n d er new lease o f 1903.
V. 7 6 , p . 435 ; V . 77, p . 636.
T h e L in d sa y B o b ca y g e o n A P o n ty p o o l R y . b o n d s are Issued u nd er a
9 9 -y e a r lease c o v e r in g the Interest.
V . 7 7 , p . 1225; V . 79, p . 2085
C ar tru sts o u ts ta n d in g Jun e 30 1908, $ 1 ,9 1 2 ,9 8 7 .
L A N D S .— L a n d s u n sold Jun e 30 1908 w ere 8 ,5 3 3 ,0 2 0 acres o f C anadian
P a cific gran t an d 141,426 acres o f M a n ito b a Sou th W estern g ra n t, 103,379
G reat N o rth -W e s t C entral g ra n t, 3 ,1 3 0 ,6 1 9 British C olu m bia Sou th ern ,
9 0 ,105 acres o f C olu m b ia and K o o te n a y g r a n t, and 1,269,818 acres o f
C olu m b ia A W estern g ra n t; t o ta l, 1 3 ,268,367 acres. T h e C olu m bia A
W estern R y . cla im s a fu rth er area, w h ich Is In disp u te . T o ta l sales In
190 7-0 8, 164,450 acres, fo r $ 1 ,8 6 9 ,9 0 7 .
G E N E R A L F I N A N C E S .— In 1902 sto ck h o ld e rs su bscrib ed fo r $ 1 9 ,5 0 0 ,
000 new c o m . s tock at p a r. In 1004 fo r $16 ,9 0 0 ,0 0 0 and In March 1906 fo r
$ 2 0 ,2 8 0 ,0 0 0 , and In F eb . 1908 fo r $ 24 ,336 ,00 0 at par. V . 74, p 3 7 8
V . 8 2 , p. 333, 691 . In 1907-08 £ 1 ,0 0 0 ,0 0 0 p re f. s tock w as s o ld . V . 8 4 ,p .3 3 8 .
S tuckh i.lu ers on O c t . 3 1907 a u th o riz e d the Issue o f $ 8 ,000,000 c o n s o li
d a te d d eb en tu re s t o c k , v iz .: A t n o t o v e r $20,000 per m ile , to co n s tr u c t
v a riou s bra n ch es, agg reg a tin g a b o u t 300 m iles; a d d itio n a l w o rk o n the
S u d b u r y b r a n c h , 226 m ile s, at $ 1 0 ,0 0 0 p er m ile , and three steam ers; also
the lease o f certa in lines, A c . V . 8 5 , p. 863 , 1002. T h e d o u b le -tra ck in g
b etw een F o rt W illia m , O n t ., and W in n ip e g , 427 m ., to be c o m p le te d In
1909, w ill c o s t a b o u t $ 1 0 ,0 0 0 ,0 0 0 .
V . 81, n . 667 , 1170.
In S ep t. 1907
£1,2 5 0 ,0 0 0 4 % deben tu re s to c k w as so ld an d In F eb . 1908 £2,000.000
V
8 5 . p . 599; V . 8 6 . p . 545.
In J u ly 1906 the last o f the $ 1 5 ,0 0 0 ,0 0 0 land gran t b o n d s w as paid o ff
le a v in g the land g ran t u n e n cu m b e re d : on Jun e 30 1908 the balan ce due on
a c c o u n t o f lan d sales w as $ 1 4 ,0 2 2 ,6 6 6 , o n w h ich 6 % Interest Is r e ce iv e d .
T ills Interest w ill be used to p a y e x tra d ivid e n d s o n the c o m . s to c k ; 1 %
was paid d u rin g 1907 an d 1908 and 1 % to be paid In 1909.
V . 83, p. 817.
E A R N I N G S .— 11 m o s ., (1 9 0 8 -0 9
G ross, $69 ,763 ,16 7; n e t, $ 21 ,067 ,14 8
J u ly 1 to M ay 3 1 .
(1 9 0 7 -0 8 ___ G ross, 6 5 ,828,334 ; n e t, 2 0 ,1 1 6 ,8 7 0
A N N U A L R E P O R T .— Fiscal y e a r en ds June 30. A n n u a l m eetin g Is
held at M on treal o n the first W e d n e sd a y In O cto b e r. T h e re p o rt fo r 1907-08
at length w as In V . 8 7 , p . 735 , 743. See also editorial p . 782.
1907-08.
1906-07.
1905 06.
M iles o p era ted en d o f y e a r _____________
9,426
9,154
8,777
$ 19 ,900 ,43 2 $ 19 ,528 ,87 8 $ 1 6 ,041 ,61 6
P a ssen ger e a rn in g s.....................
F r e i g h t .............................................................. 44,0 3 7 ,5 9 8 4 5 .8 8 5 ,9 6 8 39,5 1 2 ,9 7 3
M all, exp ress an d m is cella n e o u s____
7 ,446,143
6 ,8 0 2 ,6 8 2
6 ,115,169
744
T o t a l e a r n in g s............................................ $71 ,384 ,17 4 $ 72 ,217 ,52 8 $61 ,669 ,75 8
N e t e a rn in g s..................................................... $ 2 1 ,792 ,36 6 $ 25 ,303 ,30 9 $22 ,073 ,31 2
In terest r e c e iv e d ...............................
2 ,654,633
2 ,3 6 4 ,4 8 0
1,969,447
_
$24 ,440 ,99 9 $ 27 ,667 ,78 9 $24 ,942 ,75 9
F ix e d Charges_____ _____________________ $ 8 ,770,077
$ 8 ,5 1 1 ,7 5 0 $8,350,545
F o r steam sh ip s, A c ____________________
880 ,000
780 ,0 0 0
580,000
D iv id en d s on c o m m o n s t o c k ______ • (6 )7 ,3 0 0 ,8 0 0 ' (0 )7 ,3 0 0 ,8 0 0 (6 )6 ,0 8 4 ,0 0 0
D iv id en d s o n preferred s t o c k ( 4 )1 ,9 1 6 ,4 0 7 (4 )1 ,7 3 0 ,2 2 8 (4 )1 ,6 0 0 ,1 3 3
B a la n ce, su rp lu s..........................
$5,5 7 9 ,7 1 5
$ 9 ,3 3 9 ,0 0 5 $8,268,082
•Also 1 % e x tra paid In 1007 and 1908 from ln t. o n land sales, v iz ., $ %
A p ril
an d 43% O ct. 1.— (V .
, p . 157, 504, 563; V . 89, p . 102.)
C A N E B E L T R R .— S ec page 168.
'
C A R O L IN A C L IN C H F IE L D & O H IO R Y .— (S e e M a p . ) — I n op e ra tio n
fro m D an te, V a ., to B o s tic , N . C ., 211 m iles. C on n ects a t B o s tic, N . C .,
w ith th e S ea b oa rd A ir L in e R y ., w ith w h ich close rela tion s are m ain tain ed,
b y w h ich tid ew a ter is rea ch e d . T o be co m p le te d to S p a rta n b u rg , 33 m iles,
b y S e p t. 1909, a n d w ill be e x te n d e d a t o n c e on th e north fro m D ante to
E lk h orn , 41 m iles.
V.
, p. 944: V. 87, p. 670. C o n tro lle d b y the C u m
berlan d C o r p ., w h ich ow ns the CUnchfteld Coal C o r p ., w hose 285 ,000 acres
o f coal lands th e roa d w ill d e v e lo p .
V.
, p . 669; V. 8 3 , p . 154. See C u m
berland C orp .
F in a n ced b y leadin g N . Y . ban kers.
N am e ch an ged In M arch 1908 fro m South A W estern R R ., s to ck being
Increased to $30 ,0 0 0 ,0 0 0 , o f w h ich $ ,
Is
% preferred an d
$ ,
com m on .
B O N D S .— T h e first m tg e . has be e n a u th orized to secu re $ 15 ,000 ,00 0
yc, i r 3 ? > b on d s d a te d Ju n e 1 1908, o f w h ich $ ,
were used to
r c u r e the old b on d s (3 Issues) to the sam e a m o u n t d e p o s ite d as collateral for
th e C u m berland C orp ora tio n -y e a r n otes o f 1908; In A u g . 1908 $10 ,0 0 0 ,0 0 0
b on d s w ere s old . T h e m tg e . w ill be secu red o n the road from D ant'-, V a ..
Jn^.p? rtanburiri s - c "
m - V.
. P- 667, 856; V .
, p. 944.
In F eb
1909 $2,6 0 0 ,0 0 0 eq u ip m en t n o te s, ser. ' ’ A , " w ere s o ld .
V.
, p . 451.
1
4
88
88
86
15 000,000
12 000,000
6
3 000,000
1
245
86
88 88
3
N ov 11010
J u ly 1 1015
J u ly 1 1937
Irred eem a ble
June 1 1934
1 1037
See te x t
June 1909 3
Irredeem able
July 26 2882
A u g 1 1934
Irred eem able
2002
1955
1
funn
1938
D ec ’ 0 9 - D e c ’ 18
D ec
1081
July 1 1931
July
1928
M ay 19 1909 2 4$
A p r 1 1948
A u g 1 1915
A ug 1 1915
44$
1
1
June 1 1948
Feb 1 1019
N ov 1 1945
1 1945
1 1946
1 1946
D ec 1 1945
M ark W . P o t t e r . C h airm an o f B o a rd , 24 B ro a d S t ., N . Y . — ( V .8 9 ,p .l 6 2 .)
C A R O L I N A & N O R T H W E S T E R N R Y .— S ee p a g e 168.
C A R T H A G E & A D I R O N D A C K R Y .— See p a g e 168.
C A R T H A G E W A T E R T O W N & S A C K E T T ’ S H A R B . R R .— See p a g e 168,
CATASAUQUA & FOGELSVILLE R R — See p a ge 168.
C A T A W IS S A R R .— O w ns front T a m a n e n d , P a ., to N ew b e rry J e t ., P a ..
102.89 m iles; s e co n d tra ck , 38.69 m iles; t o ta l, 216.01 m iles. R e-lea sed
D e c. 1 1896 fo r 999 years t o P h ila d elp h ia A R e a d in g R a il w a y .
R e n ta l,
Interest o n b o n d s, 5 % d iv id e n d s on preferred s t o c k , all ta xes a n d $8,000
fo r o rg a n iz a tio n exp en ses. See also V . 63, p. 969, 1116.
O f th e p referred
s to c k s , In 1906 $2,2 0 0 ,0 0 0 was first preferred an d $ 1 ,0 0 0 ,0 0 0 s e c o n d pre
fe rr e d , an d co m m o n w as $1 ,1 5 9 ,5 0 0 ; p a r, $ 5 0 .— (V . 72, p . 1187.)
C A T S K I L L M O U N T A IN R Y .— See page 168.
C A Y U G A & S U S Q U E H A N N A R R .— See pago 168.
CENTRAL BRANCH RY.— (S e e M a p M i s s o u r i P a c i f i c . ) — O w ns I.en ora
to A t c h is o n , K a n .. 293 m .; J am estow n to B u rr O a k . K a il.. 33 in .: bra n ch es.
62 m . S t o c k , $7 ,5 8 5 ,0 0 0 , all o w n e d b y M o. P a c.
C o n so lid a tio n w ith la tter
pe n d in g J u ly 1909.
V . 88, p . 1438.
D iv id e n d , 1 4 % p a id In y ea r
1905-06; in 1906-07, 2 % .
T h e $ 3 ,4 5 9 ,0 0 0 1st Is o f 1899 are g u a ra n
te e d . prln. an d In t., b y the M o. P a c. (see V . 68, p . 329 ).
F orm o f g u a r a n ty ,
V . 70, p . 279.
F o r y ear en din g Ju n e 30 1908, gross, $ 1 ,4 9 8 ,7 9 8 ; n e t, $ 52 9,
200; o th e r re ce ip ts. $7,842; ln t ., $23 8,36 0: ta x e s, $ 11 2,64 8; Im p ., $31 ,538 ;
hire o f e q u ip m e n t $54 ,448 : b a h , s u r ., $ 1 0 0 ,0 4 8 .— ( V . 7 3 , p. 31.)
CENTRAL OF GEORGIA RY.— (S e e M a p . ) — System Inclu des:
L ines o w n e d In fe e —
M ile s .
L in e s lea sed — (see these c o s .) M i l e s .
S av annah to A tla n ta — ............. 295 S ou th w estern R R . —
G o rd o n to P o rte rd a le............ .......
M acon to E u fa u la ____________
144
C olu m bu s to B irm in gh am , A l a . 156
F ort V a lle y to P e r r y __________
12
C o lu m bu s to A m e r lc u s______ _
62
F o rt V a lle y to C o lu m b u s ____
71
M o n tg o m e ry to E u fau la, A l a . .
80
S m lth vllle to C o lu m b ia _____
85
C o lu m bu s to G reen ville, G a ___
49
21
C u th b e rt to F o rt G ain es____
36 A u gu sta A S av annah R R . —
O pelika to R o a n o k e ......................
E u fau la to O za rk .................
60
MUlcn to A u g u s ta ______________
53
G riffin , G a .,t o C h a t.,T e n n . A c . 1 9 8 1C h a tta h o o ch e e A G u lf R R . —
C h lck am au ga to D u r h a m ..
C o lu m b ia to L o c k h a r t.
18
91
Savan n ah to T y. b e e .
T r a c k a g e _________________
18
3
C olu m bu s to A n d a lu s ia ............... 138
M acon J u n ctio n to A t h e n s . . . .
102 T o ta l o p e r. J u ly 1 9 0 8 _______ 1,916
B rew ton to D o v e r .......... ................
77
B arnesvllle to T h o m a s t o n _____
16 A lso M cldrlm to L y o n s , 58 m iles
(leased to G eo. A A la . R y . —
L y e rly B r a n ch ............... .................. ■ 0
S ea b oa rd A ir Line s y s t e m ).
U p p e r C ahaba B ra n ch --------------G reen ville to R a y m o n d ------------24 O cea n Steam sh ip C o ., e stim a te d
. e q u iv a le n t o f ------------------------------- 300
T o ta l ow n ed (and o p e r .) ____ 1,436|
O R G A N I Z A T I O N .— O rganized O ct. 17 1895 and N o v . 1 su c c e e d e d t o th e
p rop erties o f the Central R R . A B a n k in g C o . o f G e o rg ia , fo re c lo s e d , p er p la n
In V . 6 0 . p . 1008. an d V . 61, p .
. C o n tro ls W rlgh tsvllle A T e n n ille a n d
W a d le y S ou th ern R y ., all o f the b o n d s o f the la tte r being o w n e d a n d d e
p osited to secure sh ort-term n otes due M arch 1 1912.
V . 85, p. 605.
In Jun e 1909 the s t o c k , fo rm e r ly held b y the R ic h m o n d T erm in al r e o r
ga n iza tion c o m m itte e , w as tu rned o v e r to the Illinois C entral; b u t the r o a d ,
it Is s ta te d , w ill be o p e ra te d In d e p e n d e n tly, a t least fo r the p resen t.
V.
,
p. 1559; V . 84. p . 1550; V . 85, p . 1082, 1268; V .
, p. 667.
S T O C K .— $ 5 ,0 0 0 ,0 0 0 ; see O R G A N I Z A T I O N a b o v e .
B O N D S — T h e fir s t m ortg a g e o f 1895 (d e scrib e d In V . 63, p. 1160) is a
fir s t lie n on the m a in lin e from A tla n ta to S a v a n n a h , In clu d in g the M lllcdgevllle branch (312 m . In a l l) , all e q u ip m e n t an d a p p u rte n a n ce s , an d the e q u ity
In $ 1 ,9 9 5 ,0 0 0 o f the ca p ita l s to c k o f O cea n S team sh ip C o . o f S a v a n n a h .
V . 8 4 , p . 529 , 605 ; V . 8 7 , p . 550.
A p p lica tio n fo r listin g firsts an d con sols In V . 63, p . 1160.
T h e c o n s o l, m o rt. (see a b stra ct V . 61. p . 873 ; also V . 63, p . 1160; V . 83, p .
1347) Is a fir s t Iten u p o n 600 m . (In clu din g fo rm e r M o n t. A E u fau la R R ..S a v .
A W estern and S a v . A A t l .) ; also o n the leases o f the S ou th W estern and
A u gu sta A S av annah roads an d the s t o c k o f N ew E n gla n d A S avannah
Steam sh ip C o ., an d a s e co n d lie n u p o n the m a in lin e. Its e q u ip m e n t, A c .,
and also o n the M acon A N o rth e rn , M obile A G irard , and o th e r d iv ision s.
It also co v e rs all leaseh olds, se cu ritie s, A c . T h e rem ain in g $30 0,00 0 are
a vailable fo r b etterm en ts and e q u ip m e n t. V . 8 5 , p . 005.
M a c o n & N o r th e r n D iv i s io n b o n d s are also d ire ct o b lig a tio n s o f the
Central R y ., w ith first Hen from M acon J e t. to A th e n s , G a ., 102 m iles.
C o lla te r a l tr u st m ortg a g e a b s tr a c t w as In V . 45, p. 242.
T h e C h a tta n o o g a D iv i s io n m ortg a g e Is a first lion o n the fo rm e r C h a tta
n o o g a R o m e A S outhern R R ., C a rro llto n , G a ., to C h a tta n o o g a , T e n n .,1 3 8
m iles, and D urham to C h lck a m a u g a , G a .. 17 m iles, w ith b ra n ch e s, In all 164
m iles, s u b je c t to $ 3 4 3,00 0 o ld 5s, fo r w h ich a like a m o u n t o f b o n d s Is re
s erved .
V . 72, p . 1134; V . 7 8 , p . 1446.
U p p e r C a h a b a B r a n c h b o n d s are secu red b y co a l lan d s In N o rth e rn A la
b a m a , also b y road H en ry Ellen to M argaret, A la .
V . 81, p . 920, 1099.
T h e p r e fe r e n c e in c o m e b o n d s , s u b je c t to the p rio r m o r tg a g e s , c o v e r the
m ain Hue and the fo rm e r Savan n ah A W e s te rn , C o lu m b u s A R o m e , M o n t
g o m e ry A E u fa u la , M obile A G ira rd , M a co n A N o rth e rn and Savan n ah A
A tla n tic and o th er railroads, and their e q u ip m e n t , A c . T h e y are n on c u m u la tlv e an d bear Interest n o t e x ce e d in g 5 % In a n y on e fiscal y e a r, b u t
p a y a b le o n ly o u t o f net earnings as d ecla red .
In O ct. 1905 It w as arranged
to a tta ch co u p o n s to Incom e b o n d s. V . 8 1 , p . 974 , 1174.
D lv l d . ( % ) —
’ 96. ’ 97. ’ 98. ’ 99. ’0 0 . '0 1 . ’ 02. '0 3 . ’ 0 4 . ’ 05. '0 6 . '0 7 . ’ 08.
Incom es 14$ 24 i
a
2
2
0
Incom es 0
0
0
0
5 3.729
0
Incom es 0
0
0
0
5
0
lii O ct. 1907 the holders o f $ 2 ,4 9 8 ,0 0 0 s e co n d preferen ce and $ 1,350,000
th ird preferen ce Incom e b on d s had d e p o site d th eir b on d s w ith a co m m ittee
(J o s . S. D ale, 52 W illia m S t ., N . Y . , S e c .).
V . 85, p . 529, 605, 653, 721,
792; V . 87, p . 1477, In Jun e 1909 the A u d ito r r e p o rte d th a t the full 5 %
sh ou ld b e paid on the 2d an d 3d ln co m o b o n d s o u t o f the earnings o f the
fiscal y ear 1906-07. V .
, p . 1436.
In 1908 a m a jo r it y o f first Incom e
b o n d s had been d e p o site d w ith a c o m m itte e (M etrop olita n T ru s t C o. o f
N ew Y o r k , d e p o s ita ry ; J o s. S . D ale, S e c .).
V 87, p . 740, 1418.
86
12
68
86
3 5 3 5 25 55 5 5
0 0 0 0
0 0 0 0 0 5
88
88
BONDS
AND
STOCKS
R A IL W A Y
w oo.]
28
RAILWAY STOCKS AND BONDS.
IN T E R E S T
R A IL R O A D S
M ile s
of
R oad
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f i r s t p a g e o f ta b les.
C en t o f Qa R y — (Cow)— E a to n to n B r ls t M n o t gu g
M id G a & A tl D Iv 1st (con sol) M $9,000 p m — (i.c *
C h a tta n oog a D Iv p u rch m o n e y M $2,4 0 0 ,0 0 0 g -S .c *
C h a tta n o o g a R o m e & S o 1st M $500,000 g -U n .c *
U p p e r C a h a b a m o r tg a g e g o ld red 1 0 2 'A ................. N
G reen v & N ew 1st M g red 102
---------------------------N
1st prel In c o m e s )In te r e s t up to 5 % -----------------------Alp
2d
do
do
)
gold if e a r n e d -------------------------- Ce
3d
do
do
J n o n - c u m u l a t lv e ......... ................Ala
C entral R R & B k coll tr b o n d s g o ld red at 1 1 0 -C s.c*
E q u ip m e n t tru st n otes J u ly 1 1 9 0 9 . . ............... ...........
L o c o m o t iv e and ca r trusts pa ya b le $11 8,00 0 s -a — c
E q u ip m e n t trust series H $51,000 s-a (V 82 p 217) __
E q u ip trust series I $115,000 s-a (V 83 p 751) — G P
do
d o series K $38,000 s e m i-a n n u a lly _______
N otes secu red b y W a d le y S ou th ern b d s -----------------
21
65
164
138
1 0 )4
24
.
...
D a te
of
B on ds
1896
1897
1901
1897
1905
1905
1895
1895
1895
1887
1905
’ 02-3 -5
1906
1906
1907
1907
G u a r a n te ed , & c . . S e c u r itie s
O cean SS C o first m ortg a g e g o ld g u a r a n te e d --C e .c
Steam sh ip b on d s g ass’ d b y O SS Co $09,000 due s-a
A u g u sta & Sav an n ah s to ck (n o b o n d e d d e b t ) ----------S ou th w estern R a ilroad s to ck (n o b o n d e d d e b t ) --------C h a tta h ooch ee & G ulf s t o c k ---------------------------------------Eirst M gold $ 2 ,000,000 Int rental s f red at 1 0 2 ^
Cent In d ia n a — 1st M $ 4 ,0 0 0 ,0 0 0 gu p & I e n d .C e .c ’ &r
C entral N ew E n g — F irst M $1,2 5 0 ,0 0 0 call 105 F P .c*
G eneral m ortg age 5 % Incom es $7,2 5 0 ,0 0 0 -------FP .r
D u tch ess C ou n ty R R — F irst M gold g u a r ------ Ale.c*
D iv ision a l b o n d s ______________________________________
Central O h io— See B altim ore & O hio
C en tral P a c if ic — 1st refu nd M g gu p & 1 c n d C c ’ .c& r
3 Wjs $ 2 5 ,000 ,00 0 g old guar p & 1 e n d .......... U s .c '& r
L u cln c n t-o lf 1st M $ 10 ,000 ,00 0 guar (te x t) . G . c ’ &r
C en tral R R o f H a iti— 1st M U S g o ld p a y 105 a t m a
tu r ity o r c o m p a n y ’s o p t i o n ---------------------------------- Alo
Central R R of N J — S tock ($ 3 0 ,000,000 a u t h o r iz e d ) ..
C en t R R o f N J gen M $ 5 0 ,000 ,00 0 g o ld ------ C e.c& r
do
do
r e g is t e r e d -----------------------------G u a r a n te ed l lo n d s —
L eh & W ilkesb Coal co n M guar p & I e x t In 1 9 0 0 -.
53
333
1890
’ 03-’ 04
S ite , or
Par
V a lu e
$16 8,00 0
413 ,000
2,0 5 7 ,0 0 0
343 ,000
4 80 .000
4 95 ,000
4 ,0 0 0 ,0 0 0
7 ,0 0 0 ,0 0 0
4 ,0 0 0 ,0 0 0
4 .8 8 0 ,0 0 0
26,617
4 20 ,000
663 ,000
1,26 ),00 0
608,000
650 .000
1,000
1,000
1,000
1,000
50,000
1,000
91
117
58
58
12
1900
1903
1899
1899
1890
100
100
100
1,000
1,000
1,000
1.000
1,000
1,349
1,349
103
1899
1899
1904
500 &c
500 fee
1,000 &C
1909
All
All
...
1887
1887
1875
$2,476,561
311 ,039
R a te
%
lio n d s — P r in c i
p a l, W h en D u e
S to c k s — L a s t
D iv i d e n d
J
J
J
J
F
M
S av an n ah G a
G u a r a n ty T ru s t C o, N Y
G u a ra n ty T ru st C o N Y
U n ion T ru s t Co N ew Y’ k
G u a ra n ty T ru st C o N Y
G u a ra n ty T ru st Co N Y
G uar T r Co N Y o r Savan
do
do
do
do
G u a ra n ty T ru st C o N Y
do
do
B lair & C o N ew Y o r k
do
do
K o u n tz e B ros N ew Y o r k
do
do
G u aran ty T ru st Co N Y
Jun e 1 1926
Jan 1 1947
Jun e 1 1951
J u ly 1 1947
F< b ’ 1 0 -A u g ’ 25
S e p ’ 09-Sep ’ 25
N o v 1 1945
N o v 1 1945
N o v 1 1945
M ay 1 1937
T o Jan 1910
T o Jan 1912
T o F e b 1916
T o J u ly 1916
T o M ch 1 1917
M ch 1 1912
J
J
J
J
J
J
M
F
G u a ra n ty T r u s t Co N Y
Blair & Co N ew Y o r k
S a v an n ah Ga
S av annah an d M acon
Sav an n ah Ga
C itizen s’ B k S av an n ah G a
Central T ru st C o N Y
F id I T & S D Co P h lla
Y e a rly It earned
Fid I T & S D Co P h lla
J u ly 1 1920
T o J u ly 1911
J u ly 1909 2 ) 4 %
J u ly 1909 2 H %
J u ly 1 1909 2 A
July 1 1930
M ay 1 1953
Feb 1 1919
F e b 1 1940
June 1 1940
& D
& J
& D
& J
& A
& S
O ct 1
O ct 1
O ct 1
M & N
Mo & qu
V a rious
4 )4
4H e F & A
&
J
4Vj g J
M fc
S
5 g
M & S
5 g
5 g
5 cur
4 g
5 g
4 g
4 g
5 In 1907
3.729 ’ 07
5 In 1906
5 g
3H & 6
OR D l V 1 D E N D S
W h ere P a y a b le, a n d by
W hom
W h en
P a y a b le
& J
& J
& J
& J
& J
& J
& N
& A
O ct 1
J
& D
1 ,000.000
2 3 4 ,0 0 0
1,022,900
5 ,191,100
436,400
336 ,000
1 ,500,000
1,250,000
7,2 5 0 ,0 0 0
350.000 4 A
See t e x t .
5 g
s e
5
5
5
5 g
4 g
5 g
5 g
(6) g
9 9 ,7 7 6 ,0 0 0
16,364,000
9 ,199,000
F
4 g
3K g J
A
4 g
&
&
&
A 120 B r o a d w a y N Y
do
do
D
do
do
O
A u g 1 1949
A u g 1 1920
O c t 1 1954
Jun e
800,000
J
& D N ew Y o r k
6 g
1,000
O ffice 143 L ib erty St N Y A u g
100 2 7 ,436,800 8 In 1908
Q— F
5 g
J
& J L ib e r ty N a t B a n k , N V J u ly
500 & cl b 4 5 .0 9 1 ,000 /
J u ly
do
do
1 5 g
Q— J
500 & c /
1,000
$3,1 6 0 ,9 1 0
274,621
T o ta l net In com e..................................... $2,8 2 5 ,6 3 6
$ 2 ,7 8 8 ,5 0 0 $3,435,531
In terest on fu n d ed d e b t , & c __________ $1,967,041
$ 1,862,683 $1,753,219
R en ta ls and m iscella n eo u s----------------431,641
B e t t e r m e n t s ___________________________
324 ,768 In clu d e d In o p e r . e x p .
______- ( 5 % ) 2 0 0 ,0 0 0 ( 5 % )2 0 0 ,0 0 0
D iv id en d on 1st I n c o m e s ______________
D iv id en d o n 2d I n c o m e s ______________
_______ (3.729) 2 6 1 ,0 3 0 (5 % )3 5 0 ,0 0 0
D iv id en d on 3rd I n c o m e s ____________
_______
_______ (5 % )2 0 0 ,0 0 0
B a la n ce tor yea r ___________________ d e f.$ 5 ,4 2 6 d ef.$ 1 2 ,9 0 4 sur.$500.671
O F F I C E R S .— -P res., J . F . H a n son , A tla n ta , G a.
D irectors, J u ly 1909,
V . 8 7 , p . 1009; V . 8 9 , p . 162.— (V . 88, p . 88 1 , 1436, 1559; V . 89, p . 162.)
C E N T R A L IN D IA N A R Y .— M u n cle to B razil, I n d ., 127 m .. o f w hich
10 in. tra ck a ge. V . 76, p .6 5 3 .
C o n trolled b y C lev. C ine. C h ic, & S t. Louis
and P en n . R R . Interests.
B on d s, gu a ra n teed b y C lev . Cine. C h ic. & S t. L . ,
are lim ited to $20 ,000 p er m d e ; o u ts ta n d in g , S i . 500 .0 0 0 . V . 77, p . 517,
2279: V . 78. p. 1906, 1961. S to ck a u th o rize d , $ I 20,000. Cal yea r 1908
gross, $13 0 ,7 6 2 ; d e f. und er o p e r. e x p ., $65 ,3 4 1 .
In 1907, gross, $148,136
P r e s .. J osep h R o b in s o n .— ( V . 7 7 , p . 227 9; V . 7 8 , p. 1906, 1961?)
C E N T R A L N E W E N G L A N D R Y .— O w ns from C a m p b ell H all, crossing
th e H u d so n R iv e r a t P o u g h k eep sie b y Its o w n b r id g e , to S ilvern alls, 58 m .;
P o u g h k eep sie, N . Y . , to H o p e w e ll, 12 m .; D u tch ess J e t., N . Y . , to S tate
lin e, 59 m .; P o u g h k eep sie, N . Y . , to B o sto n C orn ers, 35 m .; total o w n e d .
164 m iles; and leases an d co n tro ls H a r tfo r d & C o n n . W estern R R ., H a rtford
to R h ln e d lf f , 109 m .; W lco p e e J e t ., N . Y . , to F lsh k lll L d g ., N . Y . , 2 m .;
to ta l. 293 m iles. V . 7 2 , p . 1273; V . 7 3 , p . 337; V . 7 6 . p . 435; V . 84. p . 1427.
O R G A N I Z A T I O N .— On Ju n e 30 1J08 the New Y ork New H aven
& H a rtford R R . ow n ed S 3.410 376 n referred and $4 415 305 eom m on
s to c k , an d $ 6 ,3 2 9 ,1 2 3 o f th e $ 7 ,2 5 0 ,0 0 0 In com e an d $190,000 llrst m tge.
b on d s; also d iv ision a l b o n d s, v iz ., th e $ 5 0 0 ,0 0 0 P ou gh k eep sie & E astern 1st
m tg e. 5s, all o f th e $ 2 1 6,00 0 c o ll, a n d $ 1 ,1 5 6 ,5 0 0 o f the $1,164,500 in com e
N . D . & C onn, b on d s a n d $90 0 ,0 0 0 (to ta l Issue) o f C en t. N . E. n otes.
V . 8 5 , p . 404 , 858 .
M in ority gen . m tg e . co m m itte e , V . 89, p. 102.
S T O C K .— C o m m on , $ 4 ,8 0 0 ,0 0 0 ; p re fe rre d , 4 % , $3,750,000 ; par, $100.
V o tin g trust en d ed Jan . 1909.
B O N D S .— In A p ril 1909 a p p lica tio n w as m ad e to Issue $ 1 2 ,910 ,00 0 50y ea r 4
b on d s u n d er a new m ortg a g e p ro v id in g fo r Im p rovem en ts, o f w h ich
$ 9 ,5 3 3 ,0 0 0 to be Issued a t o n ce to refu n d o u tsta n d in g ob lig a tion s an d $ 3 .
3 7 7 ,0 0 0 to retire o b lig a tio n s d u e .
V . 8 8 , p . 1001; V . 89, p. 102.
E A R N I N G S .— 11 m o s . , / 1908-09...............G ross, $ 2 ,3 2 6 ,9 8 4 ; net, $889,577
J u ly 1 to M ay 31.
H 9 0 7 - 0 8 - - ...........G ross, 1 ,9 4 6 ,2 0 9 ; net, 425 ,325
F o r 12 m on th s en din g Jun e 30 (293 m iles, a g s t. 256 In 190 6-0 7);
12 M o s .—
G ross.
N et.
O th er I n c . C h a r g e s.
B a la n c e .
$33 5,86 8
$63,898
$39 7,48 0
$2,286
1907-08 ____ $ 2 ,1 0 8 ,7 8 7
1006-07 ____ 2.1 5 3 ,3 6 7
d e f. 431 ,047
50.548
267 ,070 d e f. 647,569
O F F I C E R S .— C. S. M cllen o f N ew H a v e n . P re s.; A . S. M a y . T r e e s ., and
J . G . P a rk er, S e c .— (V . 8 8 , p. 230 , 1001, 1060; V . 8 9 , p . 102.)
C E N T R A L P A C IF IC R Y ,— [S e e M a p o f S o u th e r n P a c i f i c . )
M ile s .
L i n e s o w n ed —
M ile s .
B ran ch es to San Jo se , & c ____ _
33
San F r a n cis c o , C a l., to near
L eased —
871
O g d en , U t a h _________________
25
L a th ro p , C a l., to G osh en , C a l- - 146 W e e d to Grass L a k e ____________
T racka ge—
R o s e v ille J u n ctio n . C a l., to
O regon S tate L in e ____________
297 In to O g d e n , & c --------------------------]4
.
--------U m b ria to C e cil................................ 103 |
| T o t a l .................................................1,489
O R G A N I Z A T I O N .— I n c o r p o r a te d In U ta h In J u ly 1899 as su ccessor o f
th e r a ilr o a d u n d er the p la n o f r e a d ju s tm e n t In V . 68, p . 378.
S T O C K .— (1) C o m m o n S t o c k , $ 6 7 ,2 7 5 ,5 0 0 , all held b y S o u . P a c. C o.
(2) P r e fe r r e d s to c k , 4 % c u m u la tiv e , au th orized Issue $ 2 0 ,0 0 0 ,0 0 0 , to be
d eliv ered to S ou . P a c. C o . In c o n s id e r a tio n o f Issue o f e qu a l a m o u n t o f S o u .
P a c . C o . 4 % c o lla t. trust g o ld b o n d s; o f w h ich d eliv ered on co m p le tio n o f
rea d ju stm en t $12 ,6 0 0 ,0 0 0 ; reserved fo r Im p ro v e m e n ts, $3 ,0 0 0 ,0 0 0 ; reserved
t o be d eliv ered for Im p rovem en ts an d a d d itio n s a t n o t o v e r $200,000
y e a r ly , $5 ,0 0 0 ,0 0 0 ; o u ts ta n d in g , $ 1 3 ,6 0 0 ,0 0 0 .
D I V I D E N D S .— O n p r e f., 4 % y e a rly to 1908, Inclu sive. O n co m , In
1906-07, 6 % ; In 1907-08, 6 % .
B O N D S .— F i r s t r e fu n d in g m tg e. gold 4s, $ 1 0 0 ,0 0 0 ,0 0 0 , secu red b y all the
ra ilroa d s, term inals and e q u ip m e n t n ow o w n e d . Inclu din g a b o u t 1,349
m iles o f first track , & c. See a b s tra ct. V . 69. p . 808 , an d V . 70, p . 739;
V . 78. p. 228; V . 87, p. 225 . 285, 479: V . 88, p . 52.
T h lr t y -y e u r gold 3J4*. $ 2 5 ,0 0 0 ,0 0 0 , secu red by a s e co n d Hen u p on all the
p rop erties c o v e r e d by the 1st ref. m tg e . an d also b y d ep osit w ith the T ru s
tees, as a c q u ir e d , o f all securities and m o n e y s held In a n y sin k in g fund o f the
C entral P a cific R y ., con sistin g J u ly 1 1908 o f $ 8 ,5 9 5 ,5 7 1 In securities and
$4 26 c a s h , and b y a trust d eed u p o n all the lan d s c o v e r e d b y the m tg e . dated
O c t . 1 1870. See M ortg age A b s tr a c t, V . 69, p . 858 ; also see p . 851 . F rom
the p ro ce e d s o f these sinking fu n d s and land sales ca n ce lla tio n o f b o n d s arc
m a d e from tim e to tim e: In F e b . 1900 $ 2 ,505,000 3V3s w ere ca n ce le d and
to A r. 1909 $ 6 ,1 3 1 ,0 0 0 a d d itio n a l had been c a n ce le d , red u cin g those o u t
stan d in g to $ 1 6 ,3 6 4 ,0 0 0 .
V . 70, p, 739 , 1194.
T h e 4 % gu ar, b o n d s on the Lu cln c u t-o ff are redeem able at 107 '4 on O ct.
1 1909 o r a n y ln t. d a y th e re a fte r. V . 7 9 , p . 1641. G u a ra n ty , V . 8 0 , p . 162.
L A N D G R A N T .— T o ta l land grant w as a b o u t 12,000,000 acres, o f w hich
a b o u t 7 ,7 0 9 ,3 3 6 acres u n so ld Ju n e 30 1908. Sales In 1907-08, 686 acres.
L a n d c o n tra cts J u ly 1 1908— p r ln ., $84,620; a v e r, price per a cre , $4 64.
A m oun t
O u ts ta n d in g
5500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
L A T E S T E A R N I N G S .— 1 1 9 0 8 -0 9 ...G r o s s , $ 10 ,405 ,57 7; n e t, $2,654,149
11 m o s ., J u ly 1 to M a y 3 1 .J 1 9 0 7 -0 8 ..-G r o s s , 10 ,5 7 1 ,2 1 2 ; net, 2 ,264,307
A N N U A L R E P O R T .— R e p o r t fo r 1007-08 at len gth In V . 87, p . 5 4 1 , 549.
Y e a r s e n d in g J u n e 3 0 —
1908.
1907.
1906.
G ross e a rn in g s.................................................$ 11 ,658 ,65 2 $1 2 ,0 8 2 ,7 7 7 $11,396,123
T o t a l o p e r a tn g e x p e n s e s ________________ $ 8 ,6 1 6 ,4 4 7 $ 9 ,1 7 7 ,3 6 3 $7,882,218
452 .6 7 2
428 .853
352 ,095
T a x e s ..........................
N et earn in gs from cfp era tlon _______ $ 2 ,589,533
O th er s o u r c e s _________________________
236,103
[V O L . LXXX1X.
1 2,175,000
4M
b Include*
1 1919
1 1909 2 %
1 1987
1 1087
June 1 1910
Q— M
do
do
$1 .167.0 00 In treasury J u ly 1908.
R E P O R T . — Y e a r e n d . Jun e 30 1908, gross, $ 3 2 ,8 5 9 ,6 3 3 : n e t, $ 1 1 ,6 9 6 ,
447: o th e r In co m e , $596,509; I n t., ta x e s , sin k, fu n d s . & c., $ 6 ,5 6 7 ,8 5 4 ; d ly .
on p re f. s to c k ( 4 % ) . $540,000; d lv . o n c o m . s to c k ( 6 % ) . .$ 4 ,0 3 6 ,5 3 0 ; b a l .#
s u r „ $ 1 ,1 4 8 ,5 7 2 . o f w hich pa y a b le to S o u . P a c. C o . u n d e r term s o f lease,
$ 6 1 7 ,6 1 3 , le a v in g $ 5 3 0 ,9 5 9 .— (V . 87, p . 225 , 285 , 479: V . 8 8 , p . 52.)
CENTRAL RR. OF HAITI.— In c o r p o r a te d u n d er th e law s o f th e S ta te o f
N ew Y o rk M arch 19 1909 w ith $ 1 ,2 5 0 ,0 0 0 fu ll-p a id c o m m o n s to c k (In
shares o f $100 e a c h ) , an d to o k o v e r the fo llo w in g c o r p o r a tio n s b y p urchase
o f all th eir assets: (1) T h e P laln e d u Cul d e S a c R R . C o. o f H a iti, a (31-m ile
r o a d , in cl. 16 m iles b u ildin g; (2) the P o r t-a u -P r in ce W h a rf C o ., all the s to c k
an d b o n d s o f the fo rm e r anti the b o n d s o f the la tter h a v in g been p le d g ed t o
secure th e b o n d Issue (Im llted to $800,000) a b o v e d e scrib e d .
T h e a b o v e -m e n tio n e d collateral secu rities ca rry w ith th em a g u a r a n ty on
the part o f the G o v ’ t o f the R e p u b lic o f H aiti fo r the p a y m e n t o f an an n u al
su b sid y o f $41 ,280 , U. S. gold co in , fo r w h ich gu a ra n ty 2 0 % o f th e G o v e r n
m e n t’ s reven u es fro m the duties on c o c o a a n d lo g w o o d are p le d g e d , w h ich
to ta l reven u es e x ce e d b y a b o u t 10 tim es th e a m o u n t o f this g u a r a n ty .
N . Y . o ffic e , 25 B ro a d S t.
CENTRAL RR. OF NEW JERSEY.— (See M a p R e a d in g S y s t e m ) — O per
ates from Jersey C ity , o p p o s ite N ew Y o r k C it y , w e ste rly to W ilk es-B a rre
and S c r a n to n , P a ., an d the n e ig h b o rin g a n th ra cite coa l Helds: fdso sou th erly
to the seashore resorts o f N ew J e rse y a n d to th e D elaw are R iv e r .
H I S T O R Y .— C h artered In 1849.
F rom M ay 1883 to .Jan. 1 1887 leased
t o P h lla. & R e a d in g .
R ece iv e rs w e re In p o ssession from J a n . 1 1887 till
Ja n . 1888. R e o rg a n iz e d In 1887 w ith o u t foreclosu re— see plan V . 4 4 , p .
71 4 , 716. C on cern in g coal p r o p e r tie s , see Leh igh & W ilk e s-B a rre In ‘ S u p
p le m e n t” Jan . 1903 (p . 159 ), an d L e h . C oal & N a v . in “ M iscella n eou s” . In
J a n . ’ 01 R e a d in g C o. a cq u ire d $1 4 ,5 0 4 ,0 0 0 s tk . V . 72, p . 8 6 , 136, 241, 39 1 ,
721 . Ju n e 30 ’ 08 o w n e d $ 1 ,6 0 0 ,0 0 0 L e h . V a il, s to c k .
V . 8 1 . D. 971.
M ile s .
L i n e s o w n e d in fe e —
M ile s .
Jersey C ity to P h llllp s b u rg _________72 N e sq u e h o n ln g V a lle y * ....................... 17
S u n d ry b r a n c h e s . . -------------------------- 84 Leh igh & S u sq u eh an n a, P h llllpsF n t l r c stock o w n ed —
b u rg to U n ion J e t ., & c . ................ 171
N ew Y o rk & L o n g B ran ch R R .,
W ilk es-B a rre & S c r a n t o n * .......... 5
Perth A m b o y to B a y H e a d ______ 38 O th er lin es--------------------------------------3
T racka ge—
N ew Jersey Sou th ern R R . , L o n g
B ran ch to A ts lo n , & c ____________ 76 U n ion C oal R R ..................................... 10
O th er lines (n o d e b t ) ..........................147 A lle n to w n T e r m , ( o p e r .j o ln t l y ) - 3
L e a s e d t m o s tlv f o r 999 g e a r s ) —
O th er tr a c k a g e ------------------------------6
D o v e r & R o c k a w a y R R ....................... 5
T o ta l o p e r . J u ly 1 9 0 8 -------------- 648
O gden Mine R R * ............................
10
* See this c o m p a n y .
T h e re are 263 m iles o f se co n d and 30 m iles o f fo u r track s.
DIIV
I V .— 1 ’ 91. *92 to '9 4 . '9 5 . ’ 96. ’ 97. '9 8 . ’ 9 9 . ’ 00. ’ 01. 1002 to A u g '0 0
n t - - / 6 M 7 y ’ ly .
5 ^ 5 4 ^ 4
4
5
5 8 ye a rly (Q -F )
P e r ce
cen
B O N D S .— F o r g e n e r a l m tg e. a b stra ct see V . 4 5 , p . 402.
T h e L . & W . coal m tg e . Is fo r $ 1 5 ,0 0 0 ,0 0 0 ; the b o n d s , fo rm e rly 7s, o f
w h ich $ 1 2 ,175 ,00 0 have been Issued .w ere In 1900 e x te n d e d at 4 )4 Vo , and
g u a ra n te e d , prin cipa l and Interest. See g u a r a n ty , V . 7 1 , p . 26.
J o in tly and severally w ith the Leh igh C oai & N a v . C o . guaran tees $ 1 ,0 6 2 ,
000 Leh igh & H u d . R lv . R y . gen . 5s, p rln . a n d Int. See V . 67, p . 788.
I n te r e s t at L ib e r ty N a t io n a l B a n k . , N . Y . C i t y .
E q u ip m e n t M o r tg a g e 4s.
I n te r e s t. O u ts ta n d in g . I n s ta l. o f P r l n . d u e Y l y .
($ 1,000 each )
D a te .
% Var
$75 ) ,000 $42 0,00 0
1909 to 1912
Ser. B ...............................1902
4% A&O
1 ,400,000 350 ,000 to A p ril 1 1913
Ser. C ..........................-.1 9 0 3
150 .000 to iMarch 1915
4 % M & S In treasury
Ser. D
($ 9 0 0 ,0 0 0 ). 1905
350 .000
1910 to 1916
4% F& A
do
do
Ser. E ($ 2 ,4 5 0 ,0 0 0 ) .1906
110.000
1900 to 1917
4% J& D
do do
Ser. F
(5 8 s 0 .0 0 0 ).1 9 0 7
4
E A R N I N G S .— F o r 11 m o n th s e n d in g M a y 31:
C h a r g e s.
11 M o n t h s —
G ross.
N et.
$5,750,368
1908-09 .................................$ 2 3 ,415 ,03 8
$ 9 ,9 5 7 ,0 9 5
2 4 ,9 2 2 ,8 8 6 1 0,679,075 6,0 5 5 ,2 4 5
1907-08 ---------------------
B a l., S u r.
$ 4 ,206,727
4 ,6 2 3 ,8 3 0
A N N U A L R E P O R T .— T h e re p o rt fo r 1907-08 w as In V . 85. p . 736.
E a r n in g s f r o m —
1908.
1007.
1906.
M e r c h a n d is e ................................................. $ 8 ,3 6 8 ,0 5 6
$ 9 ,2 8 8 ,9 2 0 $8,6 7 1 ,2 1 7
C o a l ........................................
9 ,0 9 9 ,0 1 5
8 ,5 3 4 ,3 6 6
7 .4 6 2 ,0 6 5
P assengers ...........
4 ,2 8 2 ,7 0 4
4 ,2 4 7 ,3 5 9
3 ,9 2 0 ,5 5 2
E x p ress and m a ll.......................................
437,873
520,395
372 ,6 0 3
M is c e lla n e o u s ..............................................
427 ,280
181,528
96,504
N et
$ 2 2 ,614 ,93 6 $22 ,772 ,56 8 $2 0 ,5 2 3 ,0 3 1
. $ 9 ,453,257 $10 ,913 ,62 6
$ 9 ,8 6 5 ,8 6 5
. 2 ,099,820
1 ,6 0 6 ,5 5 5
1,785,312
.$ 1 1 ,5 5 3 ,0 7 7 $12 ,698 ,93 8 $ 1 1 ,4 7 2 ,4 2 0
. $3,021,183
$3,038,289
$ 2 ,8 6 9 ,6 2 6
. 2 .342,696
2,765,213
2 ,3 8 6 ,3 8 0
. 1,065,726
1,112,558
556 ,710
3,512,061
R e n e w a l fu n d s. & c____________________. 2,3 0 0 ,0 0 0
3,3 7 3 ,7 9 0
2,194,844
D iv id e n d s ( 8 % ) _______________________. 2,104,944
2,1 0 4 ,4 2 4
R e n ta ls
B a la n ce , su rp lu s____________________
$628,529
$75,973
$91,481
— (V . 85, p .. 785; V . 8 6 , p. 667, 1099; V . 8 7 , p . 736: V . 88. p . 157, 1436.)
C E N T R A L R R . OF P E N N S Y L V A N I A .— S ec p a ge 168.
C E N T R A L R R . OF SO UTH C A R O L I N A .— O w ns from L a n e , S. C ., to
S u m te r, S. C ., 40.2 m iles; sp u rs, & c ., 1.61 m .: to t a l, 41.81 m .
I.cased to
A tla n tic C oa st L ine R R .: ren tal. 531 ,000 y e a rly and ta x e s. S t o c k , $ 1 7 0 ,
000; p a r , $50.
In 1907-08 re n ta l, $ 3 1 ,0 0 0 ; gen . e x p ., 5303; ln t ., $18 ,000 ;
d lv s . ( 7 .2 % ) , $ 12 ,240 ; b a t., s u r ., $45 7.— ( V . 6 4 , p. 887.)
C E N T R A L RY. O F SO U TH C A R O L I N A .— ( V . 8 2 , p . 927.)
C E N T R A L V E R M O N T R Y .— O perates from R o u s e ’s P o in t , at north end
o f L a ke C h a m p la in , to N ew L o n d o n , C o n n ., w ith b ra n ch e s, 536 m iles In a ll,
o f w h ich 160 m iles lea sed , v iz .: N ew L o n d o n & N o rth e rn (see th a t c o . ) ,
121 m iles; M on tvllle B ra n ch , 3; W est R iv e r R R . , 36 m .
M A P OF T H E
C H E SA P E A K E & O H IO
R A IL W A Y
Elkhai
;le v e la n d
Jlymoui
Defiani
AND
ITS
CO N N EC TIO N S
v
Mauch
\Chunlc
'VEastonj
,NEWAR
.Ulancc
fhelbr.
.'Wabash
rone,
lansfieli
nu/ftington
SteuBej
Kokomi
p tte /
BON DS.
(tvV«T)onj
VTRENTOI
HolUda;
Coshocton,
iamden
Drcsde; .
fans
tisburg"
lOLL'M
Bridge]
imbridgo
dlaire
founds V.
R A IL W A Y S T O C K S A N D
jharlc-stOYrn
fareensbg^
Harri-
Columbus
Hillsboi
Aexaw
•fentoi
Buckh
Mi. Pleasant
&
-Sh ip /
Davis
vYVeston
Sardinia
[itchell
'/^/Washington
DURBIN,
T ^ e s
lceton
lyansvilld. o
O ROCS
.CA5CCR!
lOwensboro
■'VROSWEU
Lebanon]
ffortonlvi
'c ^ H v c
jbthriO
■"wxntLoS
Central Cy.
Glasgow Je.l
s P s
Russellville'
Adalrgvlii
t& g m T / P j
Saltville
Corbin
^ Glasgow
felaitaville
Scoitsvilio
PlnevJll^
.Jellico
(-*
'Siuart
Rogers ville
Bobbins
Bristol
Snville
Edentoffii;
Lebanon
"Winston
Durham'
Spring City'
Maryville
Ilaboma
Dechei
-Qfijcan.
Cleveland
Smlthfleld
loldsboro]
U ncol
Gastonia
^Charlotte
~Z
Jamesvllle]
ramUC°
Salisbury
Asheville■
-----"SsSvn
I Sharpsonrgj
fuEIGH
vtesvllle
CdlmriBia.
MontrgS
Oxford
>nesboro
[ASHVILLE.
/
Burkcvilie]
London
’Gallafin
J u l y . 1909.|
Clarksburg
Waverlyfi*
F a yetteville'
M FQRT/
RAILWAY STOCKS AND BONDS,
30
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f i r s t p a g e o f ta b les.
Central RR of N J — (C o n clu d ed )
L & W B 5s o f 1912 sk fd not guar (not drawn) _FP.c
Arn Dock & Imp Co 1st M guar redeem at 110------ c*
N Y & Long Branch gen M gold ($192,000 5s)— Ce
Lehigh & Hud R lv gen M gold guar Jointly .Ce.c*
Central RR of Pennsylvania— First M $ l ,2 0 0 ,0 00 ._FP
Central RR of South Carolina— First mtge g o l d . . . .c
Cent Ry of So Car— First M $150,000 g gu red____ CP
First M $12,000,000 gold traffic guar_______ AB.c&r
Car trusts $15,000 o f $16,000 due q u a rte rly ______
L ocom otive trusts $20,000 due yearly (V 83 p 751)Car trusts $13,000 or $14,000 due sem l-ann_______
Montreal & Province Line R y 1st M guar p & 1____c
C V Trans IstM g gu g&I,$12,000or$l'3,000due s-aBa
Charleston & Savannah— See Atlantic Coast Line R R .
Charleston Terminal— First M $1,000 000 gold -S .c*& r
Charleston Un Sta— 1st M$400,000 g gu (text)_E qc*& r
Charleston & West Car— IstM g($8,000 p m ).C e.c*& r
Incom e mtge gold non-cum ($7,000 per m ileK .G .o*
Augusta Terminal R y 1st M gold guar p & l en d -.C e
Charlotte Monroe & Columbia— First M $70,000 gold.
Charlotte Columbia & Augusta— See Southern R y
Chartiers—See Plttsb Cincinnati Chicago & St Louis
Chat & Lake Placid— Sar & Lake Placid 1st M g.CciO*
Consolidated mortgage $110,000-------------------------AB
Chattanooga Stat— 1st M $1,000,000 g gu (tcxt)T a.c& r
Chesapeake & Ohio— Stock (transfer agt J P M & Co)
First mtge of 1911 Peninsular Extension g old ------ c*
Terminal 1st M 1922 covering 8 m to Phoebus g ..c *
First consol mtge for $30,000,000 gold ------ Cc.c*&r
Rich. & All DIv 1st & 2d Ms ($1,000,000 2ds)_Ce.c*
Craig Valley Branch first mortgage gold --------Ce.c*
W arm Springs Branch first mortgage gold ------ Cc.c*
General mortgage (for $70,000,000 &c) gold — Ce.c*
Paint Creek Branch 1st M $750,000 g o l d .. ..C e .c*
Klneon Coal mtge assumed redeem since Oct 1905
M ile s
of
R oad
38
40
7
All
40.6
340
22
10
10
16J4
34
74
10
607
241
26
25
1,394
21
—
D a te
of
D onds
S iz e , or
Par
V a lu e
1888
1881
1891
1890
1893
1881
1906
$1,000
1,000
1,000
1,000
500 &c
1,000
500
100
1,000 &c
1,000
1899
1905
1906
1st >1
1000
1909
1903
1907
1898
1896
1897
1002
1893
1896
1900
1907
1898
1881
1882
1889
1890
1890
1891
1892
1905
1901
1,000
1,000
1,000 &c
1,000
100
1,000
500 &c
1,000
1,000
1,000
1,000
1,000
$1,000
500 fee
M a p < D e l . & H u d s o n .) —
R a te
%
5
$2,691,000
5
4,987,000
1,891,000 4 & 5 g
5 g
1,062,000
6
600,000
6 g
300,000
6 g
150,000
3,000,000 $2,185,
4 g
11,500,500
357,000
4 A
160,000
4A
4A
216, i".
4 g
200.000
300,000
5 g
1,000 &C
1,000 &C
1,000
1.000
1,000
1,000
Operates from Plattsburg, N. Y ., to Lake Placid, 80 miles, of which Plattsburg to Dannemora, 16 miles, Is leased from State of New York for $1 and
free transportation of freight to the State’s Prison at Dannemora.
S tock, $3,450,000, of which $3,000,000 Is 4 % pref., the latter all owned
by D. & H . V. 84, p. 50. Leased to the Delaware & Hudson until Dec.
31 2403, any balance over expenses of operation. Interest, taxes, main
tenance, damages, dividend on pref. stock, & c., to go to the lessor. The
lease Is subject to revision at 5-year Intervals s', ce Jan. 1 1908 on request of
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 & C1ULF RR.— Columbia, A la., to Floralla, 92 m.
I,E A SE .— Leased In 1900 In perpetuity to Cent, of Georgia R y. for 6% on
$436 400 stock and $336,000 bonds, of which 1% to be used as a sinking
fund’for retirement of bonds, upon completion of which rental will be 5% on
stock, payable J-J. See Cent, of Ga. R y .— (V . 81, p, 1722; V . 87, p. 1663.)
CHATTAHOOCHEE VALLEY RR.— Standing R ock, G a .,v ia W . Point, to
Jester Ala 34 in. Stock auth.. $1,000,000; issued, $110,000; par, $100.
Bonds’, see'tab le above. For year ending June 30 1908, gross, $49,816
net, $19,497; lnt. on bonds, $6,000; surp., $13,497.
CHATTANOOGA SOUTHERN RR.— Owns road, com pleted In June 1891.
from Tennessee State line to Gadsden, A la., 87 m .; Round Alt. branch, 3 m .;
trackage to Chattanooga, 5 m .; sidings and spurs, 10 m ; total of all tracks,
105 m . V . 61, p. 830. On April 23 1907 W . .W Kent, Chattanooga,
T enn.. and E. O. Osborne, 31 Nassau St.. N. Y ., were appointed receivers.
V .'84. p. 905. Stock, com m on, $2,250,000: pref., $750,000.
Year 1907-1908, gross, $105,748; def. oper., $3,627.— (V . 84, p. 995.)
CHATTANOOGA STATION CO.— Owns union passenger station and ap
proaches at Chattanooga, T enn.. used by the Southern R y .. Cent, of Ga.,
Alabama Gt. Southern and Cln. N .O . & l e x . P a c.. which each owns onefourth of the stock and guarantees the bonds Jointly and severally, p. & 1.,
b y endorsement. Rental covers bond lnt. and 4% on stock.— (V. 84,p.50.)
CHERRYVALE OKLAHOMA & TEXAS RYS. (V. 88, p. 1619.)
CHESAPEAKE BEACH R Y .— W ashington. D . C .. to Chesapeake Beach,
M d., 34 m. In July 1905 David H . M offat, who owns about 99% of both
stock and bonds, obtained Judgment on a promissory note for $1,222,800.
Foreclosure pending; Interest alleged to be In default since 1901. V. 81,
p. 263. 974. Stock. SI,000,000; par. $100. Pres., W . I-. Jones. Denver.
Col.; S ec., Paul Y . W aters. 1416 N. Y . A ve., W ashington.— (V .81,p.974.)
CHESAPEAKE & OHIO RY.— (D ee M a p . ) — Operates from Newport
N ew s.V a., and W ash., D .C ., to C ln ..O ., and Loulsv., k y ., with branches.
L i n e s o w n ed i n f e e —
M i l e s . I C o n tr o lle d bu s to c k —
M il e s
Old Point Comfort and Newport
IBrldge— C ovington, K y ., to ClnNews, via Charlottesville, to
j elnnatl, O h io------------------------2
Big Sandy R iver-----------------------512 | L i n e s le a s e d —
Richm ond via Lyn chburg,to CllfISundry branches leased-----------21
ton Forge, V a _________________230 IT r a c k a g e to Louisville--------------84
Branches In V a. and W . V a ____ 441 ITrackage to W ashington. D. C .
85
Big Sandy River to C ovin gton ..150 lOther trackage------------------------31
Denton. K y ., to Lexington..........103 |
------Big Sandy Jet. to Elkhorn City,
I Total system June 30 1908..1,841
with branch------------------------------128 |
Branches In K en tu cky___________ 54 |Second track (282 ow n ed )-------- 380
Also owns ono-slxth Interest In the Richmond-W ashington Co,
H IS T O R Y , &c.— In 1888 reorganized without foreclosure. In Jan
A m oun t
O u ts ta n d in g
1,000
100 &o
1,000
O R G A N IZ A T IO N .— Succeeded May 1 1899, per amended plan In V . 67,
p. 735. the Central Verm ont R a ilr o a d , foreclosed. V. 68, p. 1076.
S E C U R IT IE S , &c.— The Grand Trunk R y. holds $2,185,100 of the $3,
0 0 0 ,0 0 0 stock, and under a traffic contract will make good any deficiency
In earnings to meet Interest on the new llrsts up to 30% of Grand Trunk
gross receipts from traffic Interchanged. Form of guaranty, V . 85, p. 283.
Central Vermont Transportation guaranteed 5 % bonds, V . 88. p. 1252.
E A R N IN G S .— 11 m os., 11008-09-.........Gross, $3,202,035; net, $699,455
July 1 to May 31.
J1907-08........... Gross, 3,118,036; net, 657,363
Y ear—
G ro s s .
N et.
O th . In c.
G h a r o c s.
D a l. .su r.
1907-08 ____ $3,740,760
$700,380
$13,840
$710,667
$3,553
1006-07_____ 3,833,088
688,380
13,840
700,407
1,813
O ff ic e r s . — Pres., Charles M. Hays: Clerk and Treas., W . H. Chaffee, St.
Albans, V t.— (V. 85, p. 283, 1005; V . 87, p. 1009; V . 88, p. 1252.)
CHARLESTON TERMINAL C O — R O A D .— Owns terminal road In
Charleston, S. C ., 5.02 miles; track laid with 6 0-lb. steel.
Company also owns 14 wharves. 30 warehouses, about 30 acres o f land,
4 cotton com presses. &e., on the city's water fron t, these being connected
b y Its own road with the other railroads entering the city. V . 77, p. 298,
148. Stock, $200,000, owned Jointly b y Atlantic Coast Line R R . and
Southern R y. .which agree to m ake good any deficiency In Interest on bonds.
Pres.. W m . E. Huger; Treas., R . D. Lankford; S ec., Henry Fraser.
E A R N IN G S .— Gross, year ending June 30 1908, $194,209; net Income,
$70,377; lnt. and taxes, $44,852; b al., sur., $25,525.— (V . 77, p. 146.)
CHARLESTON UNION STATION CO.— Owns passenger station at
Charleston, S. C ., used by Atlantic Coast Line and Southern R y ., which each
owns one-half the stock and guarantees the bonds, p & 1, b y endorsement.
Rental covers Interest on bonds and 4 % on stock. V . 84, p. 50.
CHARLESTON & WESTERN CAROLINA RY.— Port R oyal, S. C .. via
Augusta. G a., to Spartanburg. S. C .. 245 n i.; branches to Anderson and
Greenville, S. C., 94 m .; leased, 2 m .; total, 340 m . Entire stock and por
tion of Incomes owned by Atl. Coast Line Co.
V . 66, p. 38, 335. D Iv .o n
Incomes, 2% for 1903-04; 3 % for 1904-05; 5% for 1905-06.
ST O C K .— $1,200,000; par, $100. bee Augusta Term . R y. V. 66, p. 383.
E A R N IN G S .— 11 m os..1 1908-09_______ Gross, $1,310,522; net. $354,306
July 1 to May 31.
J 1 9 0 7 - 0 8 ..........--G ross, 1,315,112; net, 273,519
R E P O R T .— For year ending June 30 1908, gross, $1,408,139; net,
o v e rta x es. $191,632; other Income, $23,357; Interest on bonds, $172,000;
hire of equipment, & c., $39,114; surplus, $3,874. Pres., J. B. Cleveland,
Spartanburg, S. C.; Sec., R . D . Cronly, Petersburg, V a.— (V . 73, p. 1207.
CHARLOTTE MONROE & COLUMBIA RR.— McBee. S. C .. on Seaboard
Air Line, to Jefferson, 22 m. Stock, $48,000. For year ending June 30
1 9 0 6 , gross, $28,608; net. $16,071.
Pres.. J. A . M cLeay.— (V. 75. p.HMO.i
CHATEAUQAY & LAKE PLACID RY.— (See
[V O L. L X X X I X .
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
W h en
P a y a b le
M & N
&
J
J
M & s
&
J
J
M & N
& J
J
& J
J
100 held
C— F
Q— M
Q—F
A & O
A & O
M & N15
W h ere P a y a b le, an d by
W hom
N ov 1 1912
July 1 1921
Sep 1 1941
July 1 1920
May 1 1943
July 1 1921
Jan 1 1926
Canada
May 1 1920
Decj’ 09-Mch ’ 15
Aug 1909-1916
Oct '09 Apr ’ 17
Amer L & Tr Co Boston Oct 1 1950
Bankers’ Trust Co, N Y N ov’OO-May’21
Liberty Nat Bank N Y
do
do
do
do
National Exch Bank N Y
Fid I Tr & S D Co Phlla
Cuyler, Morgan & Co N V
Colonial Trust Co Plttsb
by Grand Trunk R y of
Blair & Co N Y ; & Bost
Blair & Co Nexv York
Royal Trust Co Montreal
& J Standard Trust Co N Y
& J Equitable Trust Co, N \
& o Central Trust Co N Y
Guar Tr N Y If earned
Oct
A & o Central Trust Co N Y
A & o Rich T & S D Co Rich Va
J
J
A
120,000 5 (6) g M & N
6
J & 1)
50,000
5
J &J15
60,000
4 g
J & J
850,000
5 g
J & J
1,000,000
62,799,100 See text. Q — M
A & o
6 g
2,000.000
J & D
142.000
6 g
M & N
5 g
27,858,000
J & J
4 g
7,000,000
J & J
5 g
650,000
M & S
5 g
400,000
S
44,413,000
4A g M &
F & A
525.000
4 g
5e
A * O
200.000
D on d s— P r in c i
p a l. W h en D u e
S to c k s — L a st
D iv i d e n d
32 Nassau St New York
Boston, Mass
Amer L & Tr Co Boston
Trust Co of Am erica, N V
In default
J P Morgan & Co N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
Cent Tr & S Dcp Co Cln O
July
Jan
Oct
Oct
A pr
Oct
1
1
1
1
1
1
1953
1937
1946
1946
1947
1932
N ov 1 1913
Dec 1 1916
July 15 1920
Jan 1 1957
J uly 1 1023
J ne 28 ’ 09 1 %
Jan 1 1911
June 1 1922
May 1 1939
Jan 1 1989
July 1 1940
Men 1 1941
Melt 1 1992
Feb 1 1945
Oct 1 1915
1909 the stock of the Virginia Air Line R y .. Lindsay. V a., to Upper Brerno.
30 miles, was acquired. V . 88, p. 231. In Jan. 1908 a syndicate headed
by Edwin Hawley acquired about $24,000,000 stock, giving them virtual
control. V . 88, p. 294. Owns one-sixth Interest In m ajority H ocking Valley
com . stock; see that com pany. In June 1909 Chesapeake & Ohio Interests
had acquired a large amount of the securities of the Chicago Cincinnati &
Louisville, and when reorganized the road, It Is understood, will be used
as a Chicago connection for the C. & O. V . 88, p. 1436, 1312.
ST O C K .— In April 1909 only $8,400 preferred stock remained out.
D IV ID E N D S .— 1899 to 1908, both Inclusive, 1% yearly. In June 1909,
1% (quar.). V. 88. p. 1312; V . 87, p. 1663.
B O N D S.— A bstract of consol, m tge. of 1939 In V. 49, p. 147; V. 86, p.
1588; of Richmond & Allegheny mtges., In V. 51. p. 144.
The g e n e r a l m o rtg a g e of 1892 (Central Trust Co. and If. T . W ickham ,
trustees) Is for $70,000,000, but additional amounts at $25,000 per mile may
be Issued for double-tracking. Of the $70,000,000 as above, $32,691,000
bonds were reserved to provide for the $30,000,000 consols of 1889 Issued
or to be Issued, &c. See full abstract of m ortgage In V . 54, p. 644;
also V. 54. p. 642; V. 55, p. 335, and V. 83, p. 1523. In June 1909 $44,
413,000 had been listed on N. Y. Stock Exchange .. f which $5,8 o.OOO were
Issued for second-track and $38,523,000 for other
rposes, leaving $31,131,
000 reserved to retire underlying bonds, $339,000 available for Improve
ments and $6,000 to retire remaining unexchanged pref. stock. V . 83
p. 1469, 1523: V. 84, p. 626. 157.)
The stockholders voted Feb. 9 1909 to authorize an Issue of general
funding and improvement mortgage 5% 20-year bonds (limited to $30,
000.000) to fund the $7,500,000 6% notes of 1907 and 1908 which were
called for paym ent July 1 1909, and provide for future requirements for
extensions. Improvements, equipment, &c.. of which $ 1 1 , 0 0 0 ,0 0 0 has been
sold. V . 87, p. 1663; V. 88, p. 99, 157, 1312.
The L o u i s v i l l e & J e ffe r s o n v ille B r id g e bonds, of which $4,500,000 are out
standing, are guaranteed Jointly and severally b y the Chesapeake & Ohio
and Cleveland Cincinnati Chicago & St. Louis; any deficit on account of
the bridge Is payable by them In.the proportion of one-third and two-thirds
respectively— see V. 60, p. 130: V. 61, p. 327, 559; V. 62, p. 84, and separate
statement for Louisville & Jeffersonville Bridge Co.
Of the G r e e n b r ie r R g . 4s of 1900, guaranteed prln. and lnt., and assumed In
1903-04, $1,000,000 are reserved for extensions and Improvements. See
guaranty, V. 72. p. 626; see also V. 71, p. 554, 602; V. 79, p. 915. Of the
D ig S a n d y 4s of 1904, remaining $229,000 Is reserved for extensions.
V . 79,
p. 917; V. 82, p. 297; V . 87, p. 225, 414, 1418. Guaranty, V . 81, p. 668.
Of the C o a l R iv e r 4s of 1905, $2,250,000 has been Issued on the 73 miles
from St. Albans to Pcytona, W . V a., & c., with 2 branches, 10 m ., and about
11 m . under construction; the remaining $750,000 Is reserved tor exten
sions and Im prov'ts. V. 80, p. 2219; V. 83, p. 693.
P a i n t C r e e k B r.4 s $225,000 reserved for extensions. V . 81, p. 974, 910
R a le ig h & S o u th w e s te r n guar. 4s. V. 84, p. 1114.
C a r T r u s t S e r ie s 4% G o ld (D e n o m i n a t i o n $1,000 e a c h ).
D a te .
O u ts ta n d in g .
M a t u r e in I n s ta llm e n ts .
A ug. ’ 10-’ l l
$100,000 y rly .
..........$200,000
" A ” 1901
.....
Aug. ' 15-’ 09-’ 12
200,000 yrly.
.................... 800.000
’ ’ B” 1902
Sep. ’ 0 9 -S e p t.’ 12 50,000 s.a.
.................... 350.000
“ C” 1902
Fen. '10-A ug. '13 200,000 yrly.
" D ” 1903
.................... 800.000
D. c. ’ 0 9-Dec. ’ 13 50.000 s.a.
“ E” 1903.................................. 4.-. 0.000
1) e. '09-D ec. '14 35.000 s.a.
385,000
” F”
O ct, ’ 09-Aprll ’ 15 90.000 s.a.
____________ 1,080,000
" G ” 1905~
O ct. ’ 09-Aprll ’ 16 80.000 s.a.
" H " l o o e i : : : ......................... 1 . <2 0 .0 0 0
D c. ’ 09-June '16 50.000 s.a.
700,000
“ I” 1906..........
Feb. ’ 10-Aug. ’ 16 95.000 s.a.
1906.................................. 1,330,000
‘J ”
Oct. 15 ’ 00-O ct.’ l 6 80,000 s.a.
1906___________________
1,200,000
•K”
Jan. '10 Jan. '17 113.000 s.a.
“ L” 1 9 0 7 I .I _______________ 1 ,685,000
F eb. ’ 10-Feb. ’ 17 112,000 s.a.
•M 1 90 7 II________________ 1,690,000
....................
Interest"pnfd "sernf-annually as Indicated by maturity date:
" A ” and
“ B " at Girard Trust C o.. Phlla.; " C ,” " E ” and ” 1'” at office of Blair & C o..
N. Y
and “ H” at ______
Fidelity Irust C„o.. Phlla.;. I,’ “ J ,” ‘•L’’
,,
z .; “ D ,” " G
w” ...........
and “ M” at Blair & C o.: " K * at Guaranty Trust Co.
FINANCES — In 1908 $2,000,000 consol. 5s were sold to retire 1st 6s duo
July 1 1908 and $2,500,000 6% notes to retire $1,200 000 notes due June 28
1 9 0 8 and provide new cash. V. 86, p. 1041, 1342.
In Dec. 1908 $ 11,000,000
“ general funding and Improvement” 5 s were sold, the provision for meeting
capital requirements for Improvements making possible the paym ent of
larger d ividends.' See above and V. 87, p. 1663.
E A R N IN G S.— 11 m os.,1 1908-09------Gross, $24,213,125; net, $9,307,61
Julv 1 to May 31.
(1907-08------ Gross, 23,919,848; net, 8,090,811
For 9 mos. ending March 31 1909, net, $7,509,353, agst. $6,781,306 In
1907-08- taxes, $600,300: other Income, $u07,98J; charges, $4,574,046;
b a ., sur., $2,842,990. V . 88, p. 1619.
A N N U A L R E P O R T .— Fiscal year ends June 30. Annual meeting Is held
at Richm ond on the Tuesday preceding the last Tuesday In October. Re
port for 1907-08 was given at length In V . 87, p. 730, 752
1906.
Y e a r e n d in g J u n e 30—
,o n *
lnft7
1.832
.
1,841
1 ,827
Miles operated----------------$5,120,529 $4,888,139 $4,242 556
, 19,571,609 19,074,861
10.395,648
933,861
. 1,151,134
964.784
.$25,843,272 $25,796,861 $24,602,988
. 17,186,747 16,650,307 14,869.649
Other Incom e.
. $8,656,525
.
762,832
$9,146,554
244,360
T a x e s __________________
Extraordinary expenses.
Dividends ( 1 % ) _______
. $9,419,357
. $6,868,510
.
791,060
.
634.327
.
627.907
$9,390,914 $9,937,692
$6,619,958 $5,778,951
734,423
569,853
1,347,555
1,534,406
627,907
627,907
Balance, surplus_____________________
4407,553
$61,071
$0,733,339
204,353
$1,426,576
.Cando
Towner
Minot
nOR-
R a in y L a ke
l,ppd*
Church's FeVy
LarimorA
't. Benton
iroat Falls
Howe
Walker'
Lewistowu
ILeeca
MMSXLE
0 i%^a'n6 s :
lL a ke
lrark\li£pld3
NORTHERN
^5=3^Bayiicld
YeliQtcsfo gg^Miles^City
Edgeley
IraiUTfd
Bowdle
Spooner
Britton
'Tomahawk Lake
!hinelan<
Aberdeen
Bristol
I'pIMO
Eedfield? Dolan"
>rvada
Moorcroft'
Camas
Woonsocket"
Market Ls
Chamberlaii
Wi-rland
KIRBY
W hite
't/lNNEKAHTA
SPRS/
'Clinton V.
Howarc
Mitchell'
.Salem.
W
aterloo
’rcepon;
Bordeau’
M l
B f§| |
\JanesvTlle/sT'
Cedar
ister-j
/$^L.Mitchcll
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MO‘
[a riogeport
-^Appleton ml
/£&.&nitowee^p:
vbshltoah
■^Pomtvlu l)acj]j«
^?1vmouth^^'iifi
.u chienx. \tfatertown,
'Madison^
Waukesl;;
Le Mars
Niohrara[
IdswouTT
yJairland*
Tt.Laj-amie
'Sheldon
Grand Rapids
ter V. Jc. .
La Crescent'
NorthWood'
Manly Jc.
<i“?\Scotland'
Sibley
'ai^-utine
iester
^--^^Mountain kake \
:IHeron Lake Ipj^eiu"
■Worthingron y y
Armour Marion J<n
Casper-
.Wabashi
AIankato^<——V
L a k e C ry s ta ^ -\ |
Jentrev.
Montpelier
z/Chclsea- Merrill_U^ippcwa Falls !f \
Wausau
£~J) Abbottsford\
T
Eland
Marshal
•3kton
Towstone
Pembine!
'Prentici
Turtle\Lake
Aberdeen
Willmai^
Hutchinson
SHERIDAN
j\ j'a t io n a l i
r.a\ncron P,
"BensoiJ1
^CinnabarVV _ _ _
Y E L L o| /s"fo.N F [
Watersmcet 0
lHinckleJ' ^
Eureka-
'owdervifh
MiSii
tOutonagot
mm
Mcllen'
'p.P^reckNuridge
Ashley o Ellendah
.icingstou
:RQ.YAlr€-
Grand Marais
dnla
\ Alien Jc.
Carru^top!
a s s
■ p f e jg
Meltoilrne;
NENOOT.
v LaramiA,
s...iVr.«sc/ V .
__ V Coloradi
uuston
Salt Lake City
fa*™"
Hahn’s
M AP OF THE
ioofcd
IMPERIALPahsad^
Trenton
LYONS
Longmont^
Boulder-4
Eri
thwmJdgtoW
^ClGuon-
-
licotbe
ST.FRANl
-".d
C H IC A G O ,
UNION
BURLINGTON & QUINCY
Stockton*1
•QUINCY
aeon
g^ecal-MiL
Joberlj
Beloit*
1varaor
-Colorado Sprs.
Pueblo
Sheridan Lake
*Orosbi
Oopacil (;
— ——^oattue \£Iora\
L/A-Carnl
^AWoodlavrn~ H
-• AtjeoniN—:
IERRIN ---- a.
RAILWAY STOCKS AND BONDS.
32
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
M ile s
of
R oad
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f i r s t p a g e o f ta b les. ______________ _
ChGreePaSk& Newh^
18
100
85
25
ass'd (V 75 p 562>
Z
l f i S e 0°S° 5 Z o goroS^ ^ : - . - i ae :^
P o tts C rB r 1st M 51.000.000 auth(V .83,p.693) Co.cJ
G e n ld & imp M 530,000,000 red 107H -U sm .c*& r*
G u a r a n te ed B o n d s
Elevator Co first mortgage gold p & I guar------ Le.c
Second mtge for 5500,000 Income non-cum
c
Louis & Jeff Bdg 1st M 55,000,000 gu p & I e n d -.c
Norfolk Term & Trans 1st M (V R7 p 322) guar p &
Gen fd & Imp M 530,000,000 red 107 i 4 - - U sm .c &r
Western Pocahontas Corp 1st M (V 84 p 995) - - -
do
do
do
Extension No. 1(1o
do
do
Extension No. 2.
Raleigh & Southwestern 1st M 51,500 000 g o ld --C
Ulcnmond-VVasnlngton Co (oiie-sUtii Interest) . . .
Chesterfield cc Lancaster—
Chestnut hill R R — Stock rental P tc R R yChicago & Alton R R — Common stock .........
Preferred stock 4 % n on -cn m u la tlv e.. . . .
4 % cumulative part and prior lien stock.
« . I.
nrt
\T ct f OOP t.Ptt.
1
r
e
c
do
do
Ser D »? pro dye SllJ.UUO sdo
do
582,000 Ser E due s-a-------do
do
Ser
513,000due s-a------------------- *
Miss R lv Br 1st M g assumed s I drawn at 100------ c
Kansas City St L o lls & C preferred stock guar - . .
Joliet & Chicago 7 % stock perpetual guar by C & . \
Louisiana & Missouri guaranteed preferred stock . .
CHESAPEAKE & OHIO RY. (Concluded).
D a te
of
B onds
S iz e, or
Par
V a lu e
1891
1900
1004
1906
1909
51.000
1,000
1,000
1,000
1,000 &c
1888
1888
1895
- - - 1898
73 1905
1905
1906
1906
1906
1903
27 1896
41 1901
36 1905
4
889
943
___
1899
1900
1907
—
1005
1906
1908
1909
1877
162
37
101
r anteec
—
$330,000
1,921,000
4,771,000
600,000
11,000,000
R a te
%
5
4
4
4
5
g
g
g
g
g
W h en
P a y a b le
W h ere P a y a b le, and by
W hom
P & A J P Morgan & Co N
do
do
M & N
do
do
J
& D
do
do ■
J
& J
J
& J
verallvw
lth Clevelan d Clncln natl Chicago & St Louis
with
Joint y and se verally
R E P O R T .— For year ending June 30 1908 was in
1 T?dv 19071 Bonds (limited to 5750.000) are Issuable at 55,000
com pleted July i9 0 7 • “ onus turn“ ere June 30 1908 567.000 debenture 6s
PC; - ,g
StoSk. 5500,000, a m ajority being acquiredl In June 1909 b y
/ ’ h c c t w i it H i l l I? I? — Owns from Germantown to Chestnut Hill, P a .,
. C H d m 1 blehracked M ay 1902. Re-leased In 1890 to Phlla. & Read.
R o a d ow n ed —
Chicago to East St. Louis 111------ 280 M exico, M o., to Cedar City, M o .. 50
R oodhouse, 111., to Kan. C ., M o..2 5 1
Sherman, 111..to G rove, 111............° l
Bloom ington to W ann, via Jack
Eldred to Barnett- - .........................
sonville, Godfrey and Upper
Coal City Line. I n d - - - ..............- - 4 /
Alton (all In Illin o is ).-............. 158
D w ight, 111., to W ashington and
T r a c k a g e to Peoria, 111., & c -......... 17
L acon, 111-------------------------------eTotafownTdVand operated j i l y l"l®08 (210 m . double tracked)......... J)98
Cut-oil between M exico, M o., and Old Monroe, 6 5 m . built by Chic. B ail.
& Quincy, opened Sept. 1904, Is operated Jointly. Cut-ofl from Springfield
to Murraysvllle, 111., 34 miles, was opened O ct. 15 1907.
lh e stock of the
Peoria R y . Terminal Co. Is owned by the Chicago & Alton and Chic. R . 1. &
Pac R y . which guarantee the first mtge. bonds (51,500,000 auth. Issue),
y 8'l 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) r a ilw a y com pany was organized In April
1900 and purchased substantially all the stock o f the Chic. & A lton Railroad.
th^ R aU w ay'^sulng U ^ ct^ u ta tiv e 1^
A m oun t
O u ts ta n d in g
do
do
A & O
4 g
820,000
1,000
do
do
Occ 1
4
450,500
1,000
do
do
M
&
S
4
g
a
4
,500,000
1,000
do
do
P
&
A
5
500,000
1,000
do
do
& D
J
4 g
2.250.000
1,000
do
do
&
P
4J-*
750,000
1.000
do
do
F
&
4.4
114,000
1,000
do
do
A &
44
51,000
1,000
do
do
J
&
4
g
330,000
1,000
New
York
Trust
Co N Y
J
&
4 g
0.500,001
1000 &t
New York Trust Co N Y
P
&
5
g
666,000
500 &c
See
text
m
„
A
&
O
4
g
1,419,000
1,000
P & A Knickerbocker Tr Co N Y
5 g
176,000
1,000
Treasurer’s Office Phlla
Q
—
M
6
195,650
50
A 60 W all St New York
100 19.542,800 4 In 1909 J &
do
do
& J
100 19.544,000 4 lit lOi 9 J
do
do
&
J
See
text
870.300
10C
d
o
do
A
&
O
3 g
1,000 &c 45,350,000
do
do
& J
34 g J
1,000 &c 22,000,000
do
do
J & D
5
245,000
Equitable
Trust
Co N Y
J 16 & D
4
66,500
1,000
Various Mercantile Trust Co N Y
1.832,000 1 & 5
1.00C
do
do
J
&
D
4
g
1.832,000
1 .ooc
do
do
M & N
1,582,000
44 g
1.00(
250,000
1.00C •
60
Wall
St
N
Y
A
&
O
114,000
6g
1,001
do
do
Q -P
0
1.750,000
10C
do
do
7
Q—J
1.500,000
10(
do
do
F
&
A
7
329,000
100
o p u r n P H '? __Pres
George W . Stevens, R ichm ond, V a.; 1st V .-P .,
T w J t n r A it e U Henry T W ickham , Charles E . Doyle, F. i f . Whitaker;
Sec -Treas.. James Steuart M acKle; (5omp., L . F. Sullivan, R ichm ond, Va.
^ T fii’petors__Frank Trumbull, Chairman: Edwin Hawley, Frank A. VanI
v v T a s t l e s H E. Huntington. F. W . S cott, Decatur Axtell,
a
^
^
^
r
H
; D o o ^ o K V , o « l . . 71 B r o a d w a y .OA SS. p . '451, 5 6 3 7 8 2 1 ,1 3 1 2 , 1372, 1619; V . 89. p. 40.)
V a ., to
/’ u p m d p a KF WESTERN RY.— Owns North R iver Gap, \
n.r.iffpwAtpr
1 4 m .;- leases for
ior 99
uu years
yearn from May 1 1902
&
rUlgewater 14
1002 Chesapeake
Chesap
Wm
arldgew ater to E lkton,
S C ! r r ’ . Bridgewater
lkton. 27 m .; total, 41 m . Projected to tlde^ r nn Chesaneake Hav. and westerly Into West Virginia cm l fields, of
whfeh ? 4 m from Bridgewater to North R iver Gap, Is com pleted. In 1908
. S f t h e stock and“ onds were acquired b y W . E. D. Stokes. V . 86. p. 1041.
U«troektHi.ilimlzed S50 000,000; outstanding, 51.419.600; o f which 5608.m n CQnreferred Ches ’ & W est. R R . has 5533,500 com m on and 531,300
«roek nntstandlnv
C W . R y . m tge. o f 1901. V . 73. p. 8 9 9 , 1356.
V e ir ending Jun^SO 1908 41 m iles), gross. 579,280; net, 521.165; other
Isa
7 4 7 - lnt on bonds, 556,760 (not paid); taxes and rentals,
incom e, 533,747. lnt. on Donas,^ * ^
Stokes, The Ansonla, N, Y .;
^ e a s u re r^ W .^ H .' HaU!— (V . 7 8 ? p ! 2383; V . 86. p. 980. 1041, 1284.)
1parUclpa^?ngPan^ m dor ilen’s^oclf In
STOCK — The cum ulative 4 % participating and prior lien stock Is enti
tled In addition to prior right to accumulative dividends at the r a U of 4 /0
per annum to receive additional dividends equal to the rate o f dividends de
flared^on tire com m on stock o f the consolidated com pany. In Aug. 1907
the Tofedo St Louis & Western purchased from the R ock Island the co n
trolling Interest viz : 514,420.000 com . and 56,380.000 prof, stock. V 84
n 468tf529?792. The Union Pacific owns 510.343.100 pref. stock, acquired’
In' 1904. V . 84, p. 1488.
. ,
,
D IV ID E N D S . -S e m i-a n n u a l dividends of 2 % on pref. and participating
and nrlor lien stocks paid July 1906 to July 1909, lncl and n Aug.
1 9 0 8 ^ % a n d V r e b . in d A ug. 1909 2%
on com ., 1 % , paid A ug. 15 1908; 1909, 4 /0 (F. & A .). V . 88, p. lo 7 .
B O N D S.— The first lien (old R y .) 3>$s of 1900 are secured b y a direct first
lion V,n Snrinfriield to Grove 54 m ., and a lien on the remaining property
owned subject to the m tge.'securing the
n3? o o o 18°V *701
obligations and Hens existing at the consolidation In 1900. V. 70 p. 804,
nnt over 500 miles main track, at not exceeding ^^u.uuu per nine, to iuna
iPAfied line rental obligations and for future betterments not to exceed
$5,000,000,
at ooo
not over
1 ,0 0 0 ,0 0 0 Per^ n n ^ o o o ^ w h fc h * wCTe° D ledeed^o
I qoq
were $outstanding,
$8,000,000, wmen were piecigeci to
secure^he35 6 : o 0 0 , 0 0 0 n o t S ^0 ^ 1 9 0 7 having been sold, and the notes
called for paym ent on July 1 1909. See clrcular. V . eO,
p. 26, 129, 541; V . 70, p. 429, 739, 995; V . 84, p. 480, 507, 626, 803, 80J,
V Aft n 99 291
,
'stockholders oi R a ilr o a d (old) Co. voted on Sept. 7 1904 to authorize the
Issue o f refunding bonds In excess of the 54 0 ,00° .d °°
^(
’
viz., 55,000,000 for betterments and 5350,000 for purchase of Quincy Car
f °T h or*a re 5 4 4?3 7 0*5% Pu’lfman CoVequlp. notes due iquar. to May 15 1010.
Equip, notes of 1908 arc secured on 2,000 steel coal, & c., cars. V. 87, p.1237.
LA TE ST E A R N IN G S .— 11908-09..G ross, S}}-*>07.817: net, 54,381.449
II mos July 1 to May 3 1 .J 1 9 0 7 -0 8 -. Gross. 1 1 ,1 4 5 ,6 6 7 , net, 3 ,7 1 5 ,2 6 2
F o r V m os. ending Dec. 31 1908, net o v e r taxes, 5 2 ,7 2 9 ,6 2 8 , against
52.055 301 In 1907; oiher Income, 52,018: fixed charges, & c., 3 1-5<0,o34,
prior lien dlv. (2 % ), 517,586; pref. dlv. (2 % ). 5390.880; bal., sur., 5752,646.
[V O L. L X X X IX .
B on d s— P r in c i
p a l, W h en D u e
S to c k s — L a s t
D iv i d e n d
Aug 11942
N ov 1 1940
June 1 1944
July 1 1946
Jan 11929
Oct 1 1938
Oct 1 1988
Mch 1 1945
Feb 1 1948
June 1 1945
Aug 11945
Aug 1 1945
Oct 1 1946
July 1 1936
June 1 1943
Aug 1 1945
Oct 1 1951
Aug 1 1955
Jus e 1 1909 1 4
Aug 16 ’(9 , 2%
July 15 1909 2 %
Aug 16 '09, 2%
Oct 1 1949
July 1 1950
J u n e l 1022
T o Dee 15 1912
T o Nov 1915
D e c ’ 09-June!’ 16
N ov ’09-N ov '18
Oct
Aug
July
Aug
1
1
6
1
1912
1909 1 4
1909 1 H
1909 3 4
p
Gross e a rn in g s................................................................?1| 828'872
„ . . 54,861.189 54,465.845
Net earnings-------------------------------------------------------v
S4.475.095
Net Incom e.................. ,....... ................... .............................................
188.985
Hire o f equipm ent and rental............................................................
3 5 0 732
Taxes ................— ---------------------------------------------- ----------------------* 2,367,441
Interest on bonds, occ._ - - - - - - - ....................................... * .............
241 024
4 3 965
Dividends on guaranteed stocks.......................................................
Dividends on prior lien stock, 4 % ... .......................................- ..........
7R1 ’7^
Dividends on preferred stock .........................................................
10 5 4 2 8
Dividends on com m on stock, 1 % ---------- -----------------------------------*
Balance, surplus after dividends.....................................................
Old Basis —
5299,759
5129 80"9°426 511°,586°,094 5U°,797.3i4
O F F IC E R S .— Chairman o f Board. Thom as H .
’rom ?-' ’chairm an
Shonts: V .-F ., Edwin H awley, G eo. H . Ross and W alter Ross Chairman
Executive Com m ittee, Thos. H . H ubbard; Treas., F . H . D avis., Sec. and
ASDIrectors— F . p fT r a z l^ r ? S ^ M . Felton J . J Mitchell Edwin Haw
ley, Thom as H . H ubbard. Theo. P. Shonts Geo. H . R oss, J oy M orton. F. H .
Davis, W m . G. Beale and H . E. Huntington.—-(V . 88, p. 1127, 1497.)
CHICAGO BURLINGTON & QUINCY R R .— (See
^ a r h ln
erates a great system o f roads extending from Chicago.westerly, r e a c h ^ •
Paul and Minneapolis, M inn.; St. Louis and Kansas C ity, M o., Om aha, N eb .,
Denver, C ol.; Cheyenne, W yo.; Black Hills, S. D .; and Billings. M ont. The
accom panying map shows clearly the system , v iz.:
M ile s .
M ile s .
I
Lines east o f Missouri R iver------ 4,353 Lines le a s e d ..- ..............................
Lines west o f Missouri R iver____4 .3831Narrow-gauge lines..................... -____73
Total operated June 30 1908................................. - -------------- ---------------- 9.02*
in Dec. 1908 523,657,500 of the 531,000,000 Colorado & Southern com .
mon stock (practically a controlling Interest) was acquired, affording con
nections with the Gulf of Mexico, the C. & S. system Including trackage
aggregating 2.769 miles. V . 87. p. 1663; V . 88. p . 157. 685.
O R G A N IZ A T IO N , &c.— This was a consolidation In July 1875 o f the
Chicago Burl. & Quincy In Illinois and the Burlington & Missouri River in
Iowa
Numerous subsidiary and other lines have since been merged In
the C B & Q .. among them Chicago Burlington & Northern, Kansas City.
St Joseph * Council Bluffs. Hannibal & St. Joseph. Burl. & ^ ' 8S° U^ 7&CSioux Cltv & W estern R y ., 229 m ., was merged Oct. 1908. V . 87, p. 347.
u I » n S107 013 500 o f the 5110,839,100 stock was exchangeu for the
mint 20°year 4 % bonds o f the Gt. Northern and Northern P acific, secured
bv the deposit o f the stock In trust, on the basis o f 3 2 0 0 In bonds for 5 1 0 0
stock
See circular, V . 72. p. 871, and application to list, V . 73, p. 293.
and description o f bonds under Great Northern.
(?)
Pen n i i n V - i n yADrn 1909° the'lioldcrs of bonds of various Issues (marke/l
t w o j » n • • e S f s r . 'a r r s V T Y r a
bonds on certalnterm s.
^ ooo.OOO authorized Issue, Interest not
abou t ___
miles o f road and on re
bonds, for which bonds are re
‘
entire mileage owned,
' or are Issuable as
3.070
aggre....... — i
j
n (nf which 517.428.300 were held In
Stating *167.565.0001 (Of wmen «
........................................5175,000,000
various>sinking fun ds)- - - j - - - tlVlntt said prior bonds..............
2 ,0 0 0 ,0 0 0
Issuable to
thg treasury fo r outlays already made
"
ISShv V tlor bettOT^ents^ndVddltlons (822.000.000 sold)------ -- 45.000,000
by It for bciterm e iis
, hetterm ts of and to the mortIssuablc for^add^ns. lmpr t s ^ ^ 3°5 24,000 sold )............................. 78,000,000
gaged property (of w
1 5 l ,al 4s-were sold, of which $13,724,000 were
m Jan. 1 90 9 5 2 0 .0 0 0 .ouu ge.m
& gou th _ com stock 5fl,ooo.OOO for
used to purchase 523.607.5uu
000 t0 retIr(J oU1 bonds> v . 88 p , 685.
acqulslUons “ dJmprCW W ana i54
m tge. on the main line in Iowa from
The I o w a D iv is io n .>bonds are a
^
Mo Klver.( 272 nilles> and on 621
L
d
1
86
m
.
of
second
track. These bonds have a s f.
’ of*
miles of branches and 86 m.
, u- ^ ° , * 2 0 3 800) yearly for which the 4s are subject to call at 100 and the
JK
aintSft main line and branches covered “ shall not exceed In
?hea aggregat^ h0 0 0 miles'* at $16,000 per m ile; on second track additional
m 'le. V . Ob:, jP■ d
l8 8 7 are issued at 520,000 per mile for
i r ? »«^ £ 6 *jn*nm fnerm lle for^second track on not exceeding 1.500 miles.
o S meerger?o f roadsPln N ov. 1007 the m tge became a direct first lien. Abstrict'.'f deed. V. 45, p. 44 . . 'N e b r a s k a c o n s o l, mtge. o f 1878 Is now a
B u r lin g to n & M i s s o u r i R «•
£
subject to call for the sinking fund at
first mtge. or firstcoll..lien, ..tb e y ^ r o s u u je v ^ oo rctlred ln 190!)_h
par; the “ exeir
E A R N IN G S ,
July 1 to i
.
«, F
7 ? ? 3|'n°ro*n7^0a-C Vnt ” s'lnk?fundsr & c . $5,970,376; dlvs.’ , 4 % (6
$15,874,722 In 1807-08, m t.,
u
o 417; bal-j suv., $4,580,367.
m°,SMMSrrA?3 Vi K PnUT — m c l v v n r ends June 30. Report tor 1907-08
A ^nNv ^ 7 n EU)81 1098 (See also editorial, p. 1050), showing results on
Mniim^op8e7r^?ed\9nd’ eimtroUed.al8Coinparlson3 v;jth previous years are In
accurate, owing to changes in method o f com piling figures.
RAILWAY STOCKS AND BONDS.
J u l y , 19 09 .]
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , A c . , s e e n o te s
o n f ir s t p a g e o f ta b les
Chicago Burlington & Quincy— S tock-----------------------Gen mure 53UU,OOU,OUU lawful m on ey____C e.c*A r
Illinois Dlv first mortgage 1385.000,000 currency re
(V . 83, p. 625; V . 6 9 ,p . 2 83)/deem able at 1 0 5 .. NI
xSInklng fund Iowa D lv 5s (col trust) drawn at 105
Sinking fund mortgage 4s drawn at 100_________cA
Sinking fund 4s (So VV Dlv) drawn at 100_____ c* A
Denver exten (coll tr) bonds s f drawn at 100-N B .c
xDcbentures for Hannibal & St Joseph stock _____ c 1
xHannibal A St Joseph cons M now 1st 11
P c'
K O St Jos A Co B—
1st Ms Nod A Tark Val R R s s f (drawn at par) o'
xR ep Val 1st M guar (red at par) s f 314,000 yrly ' c
Lincoln & N W R R 1st M guar 8 f 1% not drawn .
Chicago Cincin & Louisv— Receiver’s ctfs call at par'
Receiver’s certificates 31,500.000__________ . . .
*
C R & M 1st M g ___________________
OB o*
Chicago A Cincinnati 1st M 3750,000 gold'call text
Cincin & Ind W first mtge 3600,000 call tex t..O B .o*
Ohio Cln & Louisv gen A ref mtge guar text AB*c*
H oosler Equipm ent 1st M Series A guar p & I
BB
Equipm ent trusts, part due yearly_____
Chicago & E III— Pref stock 6% non-cum (310,000 pin)
Danville A Grape Creek R R — 1st M assumed
c*
First mortgage extension_________________ _
c«
Consolidated mortgage (for 36,048,000) gold Ce o*
Collateral trust bonds sinking fun d______
0*
General consol and 1st M 330,000.000___ ” c i~ c * & T
Chic & Ind Coal— 1st M 325,000 p m assum Mn c*
Evansville Terre Haute & Chicago Income mortgage
Refund & Imp M (text) gold red at 1 0 2 X B a .x c* Ar*
M ile s
of
R oad
D a te
of
B onds
8.49!
11.648
1
1 891
1
1908
J1899
11899
/1879
11879
1881
370 1881
1883
1,471 1887
/1878
11878
1880
289 1881
59
90
73
180
50
33
264
9
14
191
817
176
817
1880
1879
1880
1908
1909
1900
1902
1902
1903
1902
1903
1880
1881
1884
1887
1887
1885
1881
1905
S iz e , or
Par
V a lu e
33
IN T E R E S T
A m ount
O u ts ta n d in g
R a te
%
5100 110,839,100 8 In 1908
1,000 At 38 832 .out
4
1,000 Ac m50,83500C
3X
1,000 Ac n34.165.00C
4
1,0 0 0
b2,277.00C
5
1,0 0 0
C7.081,00C
4
1 , 0 0 0 d 4 ,290,000
4
100 Ac e 7 ,835,500
4
1,0 0 0
8,965,000
5
1.000 Ac f 24,214,000
4
600 Ac g 8 ,751,000
6
600 Ac
6,000,000
6
1 , 0 0 0 h3,347,000
4
1,0 0 0
6,961,000
8
W h en
P a y a b le
Q—
M
J
J
A
A
M
F
M
M
J
J
J
M
A
A
&
A
A
A
A
A
A
A
A
A
1,0 0 0
1125,000
7
J
A
600 Ac k l ,078.000
6
J
A
1,0 0 0
p600,000
7
J
A
1,0 0 0
l . 000.000
6
J
A
See text
1,0 0 0
1,804,000
1,0 0 0
750,000
F A
5g
1,0 0 0
600,000
J
5g
A
1,0 0 0
3.016,000
A
4 X s: J
1,0 0 0
150,000
5
J
A
1,0 0 0
150,000
5g
J
A
10 0
8,830,700 6 In 1908 C1— i
1,0 0 0
97,000
6
M A
1,0 0 0
91,000
6
J
A
1,0 0 0
2,736,000
A A
6g
1,0 0 0
27.000
6g
F A
1,000 Ac 19,735,000
5
M
1,0 0 0
4,626,000
5
A
J
1,0 0 0
i 150.000
6
M A
1,000 Ac
9.800,000
4 g
J A
J
J
J
O
O
S
A
N
N
J
J
J
S
W h ere P a y a b le, a n d by
W hom
B o n d s — P rinci
pal, W h e n D u e .
S tock s— L a st
D iv i d e n d
N Y Boston and Chicago July
Bank o f Comm erce, N Y Men
Bank of Com N Y ; & Bos July
do
do
July
do
do
Oct
do
do
O ct
do
do
Sept
do
do
Feb
do
do
May
do
do
May
Bank of Commerce Bost July
do
do
July
do
do
Jan
Bank of Nor Am erica N Y Mch
1 1909
1 1958
1 1949
1 1949
1 1919
1 1919
1 1921
1 1922
1 1913
1 1927
1 1918
1 1918
1 1910
1 1911
D
1 1920
J Bank of Commerce Bost June
July 1 1919
J
Jan 1 1910
J
July 1 1911
A
D
J
J
D
N
D
O
A
N
J
N
J
Oct 1 1950
Feb 1 1952
---- h'
;°up last paid June 1 1952
<Sc T r Co Dost July 1 1953
July 1910-1912
T o June 1913
July 1 1909 I X
May 1 1920
Dec 1 1931
Co N
Oct 1 1934
do
do
Feb 1 1912
do
do
N ov 1 1937
Jan 1 1936
May 1 1920
rs’ Trust Co N Y July 1 1955
b 3723,000 and c 35,434,000 canceled not included d 32.2 93,000; e 34,115 .200; f 35,5
1 n sinking fund (canceled); g 57,78 9,000.
The sinking funds held alive June 1908 o f bonds abo ve: h 32.570 000; i 54 2.000 k 357 20,000
7,800; p 3356.000: ti 320,000 n 59,000.
S O f which In treasury July 1909, 32,000.
x S ee optil on of exc hange for ge neral M 4 s. V . 88 8 8 . p. 1060. 1127. 1559:
V . 89. p. 40.
Wlf
, - T
1907-08
1906-07*
1905-06
certificates, respectively, these amounts being equivalent to 4 % on the
Miles operated June 30--------------------- -9,282
9 134
8 927
principal sum to be eventually received In paym ent therefor
U oon fill
- .................................................... 353,036,306 356,5161680 351,1681339
P a s s e n g e r - . - . - . . . - - . .......................... 18.819,230 18,666,973 16,409,104 ure to pay any dividend within 30 days after dem and theiefo’r anv holder
m
ay
surrender
the
certificates
to
the
trustee
and
recelve
the
shtres
repre
Mall and miscellaneous.....................
6,603,519
7,289,580
6,569,228
sented thereby. V 75. p. 289 393, 1031; V . 82. p. 48. A m alorltv o f
com m on stock trust certificates were In 1005 exchanged for certificates in
....................... 3 7 8 .4 5 9 .0 e 4 5 8 2 , 4 7 3 . 2 5 1 3 7 4 . 1 4 6 , 6 7 1
m? 4 % K e " 3t 0 L$,, ’^ H .e,a,cl1,’ ^presenting 4 shares o / c o m m o n S k f b ? ^
Operating Income after taxes................320.005,003 320.729,463 320,638,639
Other Incom e................................................D r.246,612
443,262
410,682
T otal Income ....................................310,758,301 521,172,726 321.048.821
Interest, rents, occ___________ ______
7,642 902
8,017,510
8,306,301
Betterments------------. . . . . _______ 3 ,'225,’oo5
______
______
Dividends on s tock ............................. (8 % )8,86 7 il28 (7)7.7’58',737 (7 )7,758',737
Balance, surplus..................................
322,367
55,306,470
34,083,603
n S ,J 1 5 ? <?ni0 .R rS ,T <fe?.; % Harrl? <P r e s >- Daniel W illard, Darius Miller,
S ? D8 / ! 11
Hlll> s t - Paul* Minn.; James N . Hill, Geo. C. Clark.
' " • p - CJough, John F. Talm age, Norm an B. R eam , Geo. F. Baker and
Samuel Thorne, N . Y .— (V . 88, p. 1060, 1127, 1312, 1559, 1 6 1 0 .)
CHICAGO CINCINNATI & LOU ISVILLE R R . — Owns Cincinnati
to Louisville Junction, In d ., 265 miles; trackage Louisville Jet. to Chi
cago, 111., 18 m ., total 283 miles. A consolidation In 1903; V . 76, p. 1247.
In March 1907 a settlement with the Cln. Ham & D ayton interests was
reached under which the 53,500,000 Pere Marquette collateral trust bonds
secured by the C. C. & L. stock were canceled, the stock being returned to
the old holders, a debt o f about 5800,000 being canceled and the C. C. A L .
receiving 5400,000 In receivers’ certificates o f the Pere Marquette. V . 84,
p. 507, 603. Management was surrendered Jan. 1 1906 to the former owners.
„ 2 n £ e b ’ l 3iA0 0 #
Goodrich was appointed receiver, there being
ft floating debt ot $1,750,000 and m any smaller claims being overdue.
V. 86, p. 420, 479. On May 26 1908 $1,000,000 6% receiver’s certificates
were authorized .d im In ^3 years, but sublect to call at par on any Interest
day. V . 56. p. 793, 1343; V . 88, p. 52. In May 1909 application was made
to Issue $1,500,000 receiver’s certificates. V . 88, p. 1312.
In June 1909 the new Chesapeake <3e Ohio Interests had acquired a large
amount of Chic. Cln. <& Louisv. securities, and It Is understood that when
Vr012aan ze(J
used as a Chicago connection for the C. & O.
V. 8o, p. 14«3o, 1312.
In Deo. 1908 filed agreement covering purchase o f 460 cars for 5372,076.
com m ittee (N . W. Jordan, Chairman; A . C.
R aym ond, 67 Ml k St.. Boston, Sec.; American Trust C o . , Boston, deposi
tary), received deposits of gen. and ref. 4 H s and in July 1909 advised ac
ceptance of an offer of 50 for the bonds. V . 86, p 856- V 80 p 224
Another com m ittee (Seth M. Carter, Chairman; Charies H . Gilman,' 82
Exchange Street, Portland, Me., Sec.; Old Colony Trust C o,. B oston, d e
positary) received deposits of Chic. & Cine. 1st 5s, Cine. R . & M. 1st 5s
and Cln. & Ind. W . 1st 5s* In July 1909 over three-fourths o f each of the
three Issues had been deposited and an arrangement that will benefit the
bondholders had been made with H. B. Hollins & C o., New York
V 87
p .1 2 3 7 ; V . 88, p. 451; V . 89, p. 40.
’
STOCK AND BONDS.— Stock outstanding, 34,206,000; par, 3100.
The Cine. Richm ond A Muncle 1st 5s, Chicago & Cincinnati and Cine. A
Ind. W est Issues are all sublect to call at 110 after 10 years from their
Issue, the Cln. Rich. & Muncle after O ct. 1910
See official statem ent, V.
71. p. 1066; V. 74, p. 1105. Of the gen. and ref. 4 X s o f 1903, American
Loan & Trust Co. of Boston and Union Trust Co. ot Indianapolis are trus
tees. V . 77, p. 349, 1532; V . 80, p. 640. There are also 375,000 H am
m ond Belt R y. bonds
E A R N IN G S.— 11 mos
1008-09.-G ross, 51.238,069; oper. d ef., 525,016
July
May
----- l to —
„ 31
,1 0 0 7 -0 8 .-0 ^ 3 3 ,
954,157; oper. d ef., 64,033
Year end. June 30 '08, gross, 51,041,156; d ef. under op . exp ., 3121,816.
Office, Chicago, 111.— (V . 8 8 , p. 52, 451, 1312, 1436; V . 89, p. 40, 224.)
CHICAGO & EASTERN II.U N O IS R R .— (See M a p s , p a g e s 118, 1 1 0 ) —
Operates road (double track to Danville Jet., 106 in.) from Chicago, 111. to
Terre Haute, Ind^, and bituminous coal fields; also to Thebes and Joppa, III.
L in e s ow n ed In fee .
M
i l e s . Branches to Coal Mines_________
............
15
Dolton to Danville, 111____________ 1 0 7 Rossvllle Jet. to Judyvllle, I n d .. 14
Danville, 111., to Brazil, In d _____ 6 1
H unt’s Extension________________
7
Momence Jet., 111., to Brazil, In d .130
T r a c k a g e , A c .—
Danville Jet., III., to Thebes, 111. 277 Pana. 111., to E. St. Louis..............85
Joppa Jet. to Joppa, 111--------------- 16 Chicago to D olton, Ch. & W . I n d . 17
Clssna Jet. to Clssna Park, 111------ 11
Otter Creek Jet. to Terre H a u t e .. 6
Rossvllle Jet, to Sldell J e t., 111___34
Other lines_______________________ 3 2
Percy Jet. to La Crosse, Ind......... 46
Milford Jet., 111., to Freeland, Ind. 11
Total operated July 1908............ 9 5 7
Coal BlulT, In d ., to Casey, In d ___ 7 Double track__________
17 3
W oodland. 111. to Villa Grove___62 Third track_________________ ” 1* 20
Findley, 111., to P a n a ...................... 20 Side tracks______________________ 5 ^ 7
H IS T O R Y . LE ASE S, A c — In August 1902 the St. I*. & S a n a c
quired the greater part of the stock, as said below.
The Chicago & East. 111. owns 31,000,000 stock o f Chic. & Western Ind
Special lease o f Chicago freight terminals, V . 78. p. 819. In 1904-05 ac
quired control o f the Evansville & Terre Haute, which forms part o f the
through line between Chicago and Evansville. V . 55, p. 995; V . 8 1 p 1 2 3 9
STOCK — Common stockoutstand ing. 57,217,800 (515.000 p. m ) : p ref'
38,830.700. In addition, 36.408,300 com . and 3161,300 pref. were held In
trust by Trust Co. o f America In July 1908 as a part o f "trust assets” under
agreement dated July 1 1905. for Im provem ents, acquisitions or refunding
to be terminated on satisfaction o f the St. L. & S. F. stock trust agreements
below referred to. V . 85, p. 1001.
In A ug. 1902 the St. Louis & San Francisco R R . gave In exchange for the
com . and pref. stock Its stock trust certificates at the rate o f 3100 thereof
for each 3100 share. V . 75. p. 289. In Jan. 1905 all o f the 37,217,800
com . and 36,211,700 o f the 38,992.000 pref. had been exchanged on this
basis. The St. Louis A San Fran, has the option to retire the trust certifi
cates at any tim e at 3250 per 3100 com . stock trust certificate and 3150 per
3100 pref. stock trust certificate, payable In gold, and obligates Itself to pay
off entire Issue In 40 years from July 1 1902 at same rates, meanwhile ob li
gating Itself to pay 10 % dividends on the com . and 6 % on the pref. trust
"{!
T J ? ,? *15^'TrLnH oen.e r a i y ° n s°\- a n d
m tge. o f 1887 (trustee. Central
AE]
P rovldes for the retirement o f 36,307,000 prior bonds and for
at 518.000 per mile for single track; also for bonds
Tn lHQ7 Pt h n I - ,? 1 A7 '00,0 per mile anrf for double track at 38,000 per m ile.
In 1897 Hie gen. consols were limited to 530.000.000. See V . 64. p . 1088;
la za
7? ’ PL 1331: V ’ 80’ p - l7 2 & ‘ V. 84. p. 1550: V . 85. p
saa n'nn » t * . h e>?u p.- <,bond3 mature 357,000 each June and Dec. and
$o6,000 each March and Sept.; Series C, $53,000 s-a., J-J* Series D $15 000
J
F ’ 5125,000 Feb. and A ug.; Series F , 5220,000 F -A . ’
’
lss ?e L h39!7&L000gare res?iw «W oi^adcfitlonsSand Im^ro^vem^nts’°IncludIng
a,n? 534.626.000 to retire, 5 fo r 3. 330 000?o“ o gen coM ol
Coal R y .55s.01
& In d :
E A R N IN G S .—- 1 1 m os.,11908-09___Gross, 59,451,*4 9 0 ' net 32 743 6 6 4
July 1 to May 31.
/1 9 0 7 -0 8 ...G ro s s , 9 974 992-' net
p 'Z s p 'n in
i
m° nth,8 ending Dec. 31 1908, net, 31,598,097° against s i ’s a i ’ a ia
In 1007; other Income, $312,752; Interest and taxes, $1,590,907* oreferred
dividend (3 % ), 5264,921; balance for com m on stock, 555,0 2 l ’ P
R E P O R T .— F or 1907 08 was In V . 87. p . 1155.
Y e a r s e n d in g J u n e 3 0 —
1907-08.
1906-07. I n c . o r D e c .
S p®Ea* ? 1 rev en u e.................................310.742.731 311.393,397 — 3650.666
!^pp^^5inff Income (after t a x e s ) -----3.127,244
3,520,241
— 392,997
( '“ eluding other Incom e)............... 4.018,851
4.292,638
— 273.787
Interest and rentals................................ 2,882,624
2 ,6 2 2 , 4 7 1
+ 260,153
D v . on pref. stock ( 6 % ) .......................
529.842
529 842
D lv. on com . stock (1 0 % )....................
721,780
721 780
Balance for year............................... def.3115,394 sur.3418,546 — 5533,940
Y ea r en d . J u n e 30—
1907.
1906.
1905
1904.
Miles operated June 3 0 ..
948
948
880
Gross earnings................311,337,714
39,928,562 38,423 378 38,664,042
Net g a m in g s .................... 33,825.405 33.077.273 32 403 528 32,972,109
H9
M' lle£ C h ica go;'V .-P ., R obert Mather,
N e W 'o r ^ (Mfi'ce|?<l i5J *Bway?— ( V ^ I l * p'. f e V l ' . ^ i ^ ef ve8’ Chicago.
CHICAGO & ERIE R R .— (S e e M a p E r i e R R .)— Owns from Marlon O
J° H am m ond. In d ., 249m lles, and leases trackage over Chicago & West In d '
to Chicago, 20 miles. Erie R R . Co. owns entire 3100,000 stock.
‘
DONDS. T h e f ir s t m o rtg a g e (trustees Central Trust Co and Edward
Indiana sTnon nnn’Jrfth ° / ro a d ’ the. contract with the Chicago & Western
Belt R v 5
' k0? of.thaA com pany s stock and 5240,000 stock o f Chicago
Belt Ky. See abstracts. V . 51, p. 911; V . 6 1 , p 750.
..........Gross, 53,929,873; net, 5571,019
July 1 to May 31.
\1907-08-------- Gross, 3.838,651; net, 368,728
••MnnhFiSLS" QRF AT W ESTERN R A IL W A Y .— R O A D .— Form s the
nnlfPJ?3,
rou te» radiating from Oelweln, la ., northerly to St. Paul
^
~ t0
“ d southerly and westerly to Kansas City and Omaha;
L i n e s o w n e d (to ta l. 757 m il e s ). i f lie s .
O p e ra te d u n d e r a g r e e m en t.
M ile s .
Chicago to St. Paul______________ 4 0 2 Mason
City A Fort D odge.
Oelweln to St. Joseph________ 111289
385 miles, viz.:
Bee Creek to B everly______________ 23
Oelweln, la ., to Coun’l Bl’ fs . 2 6 0
Sumner to W averly*______________ 2 2
H ayfleld, Minn ,to C larion,la. 1 0 0
De K alb, Cedar Falls. Ac.",
Branches to Lehigh and Coal
b ra n ch e s__________________
21
ville, Iow a__________
is
T r a c k a g e . A c . ( t o t a l 83 m il e s ) — *
Trackage rights Council Bluff's
St Paul to Minneapolis___________ 10
to South Om aha............
7
Chicago T erm inals___________ .
1 0 Wls M in n .A P a c.R R .,271 miles,
Dubuque to A iken.....................
14
Mankato to Red W ing_____
96
Des Moines Term inals___________
3
Red W ing to Osage................ 118
Beverly to Kansas C ity___________ 3 7
W inona to S im p so n ...............
54
St. Joseph to Bee Creek_________ 9
Branch to Clay Banks______
3
I lfflICNERYS'-^ e3-i V
C.’w
•Grand total ("excluding 22 m ., leased to W aterloo A C. F. R . T . R y) 1 4 7 4
The entire capital stocks o f the Mason City A Fort Dodge R R . Co. and
the W isconsin Minnesota A Pacific R R . Co. are owned and their roads oper
ated under agreement. See those com panies.
p
nn? n C?TIVTBIl SI!.I.P ’— "R ecel':crs appointed Jan. 8 1908. Horace G. Burt
224* ^ \ 3 z ‘ * ’ 55111 11 now rccelvers- kale set for A ug. 21 1909. V . 89, p.
o l’ il VRr«A
n 11497),°iIssued
^ T 'bry TJ. P.
^ rMorgan
Pla ° ° <‘5cr®
dated June 1
i10
yuy
vP*
Cor8ranIzatlono., actlne as reorganization
™aPa^
a ‘ the request of the several protective com m ittees? prov"d?s fo?
the form ation o f a new com pany to purchase the property at or after Judicial
sale, including the stocks of subsidiary companies, and to issue th ese curl ties
shown In the table above. Depositary, j . p . Morgan & Co. N Y Citv
tha n t L 1
°* h*10
stock and substantial amounts of
the other stocks had been deposited under the plan. V . 89 n 162
the 04811 reQUIremcnts o f the plan— $24,892,274
(Including $9,892,274 for Improvements and eaulDment)_receiving th n ro fnr
518.500,000 new first mortgage 4% bonds? « o “ S 8!«M p r e fu n d i s f . M j S S
nnnVAr?"r,fS k v<i t R? trl*st certs * the stock trust certs, being offered to
holders of old pref. B and com m on stock on paym ent o f assessments o f 315
j,<’ r.i‘l''.ar,e ’ as snown below, and affording the shareholders their only oppor
tunity to participate In the reorganization
*
Of the new first 4s, 318,500,000 will be sold to the syndicate and the
S
1!1" 1, ' , ! ! ; 500' 00,0 0f the * 2,8 -0 0 °.°°0 Present Issue will be sold foi? addi
tions and betterments, as required, say, within the next two or three years.
RAILWAY STOCKS AND BONDS.
34
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , A c . , s e e n o te s
o n f i r s t p a g e o f ta b les
M ile s
of
R oad
D a te
of
B onds
S iz e , o r
Par
V a lu e
100
100
100
100
Various
Various
J
& J
28,077,089
4 g
11.336,900 See text A & O
23,051,942 1 None \ Seml-an
44,525,420 l paid J
5
Seml-an
3.831,545
5
Seml-an
5,149,303
1909
RH
R
1906
1907
1900
1906
1880
1881
1897
1897
1900
1906
Clncln
1,000
1,000
m The p r e f .° s t o c k ™ ’ be entitled to non-cum . divs. at 4 % per annum for
each fiscal year to June 30 1014 and to cumulative dividends thereafter at
that rate ahead o f the com m on stock, and also to a preference as to principal
and accrued divs. In case o f dissolution or liquidation. If and when per
m itted b y la w , the new com pany will have the right to redeem the pret.stocy
atWar and accrued divs. No additional mtge. shall be created nor shall the
pref stock be Increased w ithout the consent o f a m ajority o f the pref. stock
outstanding or votlntr ccrtlflc&tcs therefor.
V o t i n g T r u s t .--A ll stock (except shares to qualify directors) shall for
five years be vested In J. Plerpont Morgan, George F. Baker and R obert
Fleming, as voting trustees, with power to fill vacancies and all other powers
to ^ stated In the voting trust agreement. Upon the written request of
holders o f a m ajority of the outstanding pref. stock voting-trust certs.
stock voting-trust certs, to an am ount sufficient, with such
m a jo r it y ^ “ uch^pref. stock, to constitute a m ajority of all the stock then
held b y such vot/ng trustees, the voting trust shall be terminated.
y
B a s i s o f P a r t i c ip a t i o n a n d S y n d ic a t e O ffe r .
E x i s t i n g S to c k s
U p o n W il l R e c e l v e _ V o t . T r . C e r ts , o f N e w C o
- P r e f . S to c k ----I f D ep o site d
P a y in g
A m o u n t.
C la s s .
p e r S h a re. %
$30 ,884 ,70 8
15
3,457,791
6,678,813
15
120
60
40
45,245,613
41,021,402
18,500,000
4 g
780,000
815,000
5g
6 g
4 g
4.850.000
1,000
4 g
1,000 &t 15.150.000
100 10.500.000 See text
4 000
In 1908
5.000.
100
3 .000.
0006
1,000
6 g
2.300.000
1,000
5.000.
000g g
1,000
6 g
4.700.000
1,000
6 g
13,000
1,000
5g
1,000 In treasury
4 g
1.525.000
1,000
natl Ohlr ago <V Sr T,i uls
Additional bonds will be reserved under the mortgage to ret re the first
m ortgage bonds o f the Mason City & Fort Dodge and W ise. Minn. & Pac.
($12,000,000 and $5,811,000 respectively), anti for new property, better-
110
W h en
P a y a b le
$480,353
M & S
5
~339!000
J
& J
4X
748.000
1.250.000
4H g F & A
2.420.000
4M e F & A
A A O
5 g
2.108.000
M & N
12,000,000
5 g
10,000,000 M ostly o wned b y
J
& J
5 g
300.000
N e w S e c u r itie s to b e I s su ed u n d e r R e o r g a n iz a tio n P l a n .
100
Common stock, $46,000,000----------------------------------100
Pref. (as to ass. and div) 4 % , cu m a ft. June30 14red
First m ortgage, gold, see t e x t............- .......... - - - - - -
Chicago & Great W estern— See Chicago Terminal 1 ra nsfer
Chicago Hammond & W estern— See Indiana Harbor Belt R
26
Chicago & HI Mid— 1st M $5,000,000 g red text-IC .c*
Chicago & 111 W — Gen (new 1st) M g gu red par. AC.xc*
Chicago & Indiana Coal— See Chicago & Eastern 111
203
Chic lnd & So— Ind 111 & la 1st M $12,000,000 g-IC .c*
320
Consol mtge $20,000,000 gold gu p & i-.G ,x c * & i
Chicago Indianapolis & Louisville— Common stock —
Preferred 4 % non-cum ulatlve $ 5 ,0 0 0 ,0 0 0 - - .- - - - - .
280
L N A & C 1st Main Line— N A to Michigan C lty .c
162
First M Chic & Ind Dlv Chicago to Ind gold ------ c
500
O I & L refunding mortgage $10,300,000 gold - .- C e
500
do
do
gold 6s Issued for old consols—
Con atone Co 1st M gold guar p &. i ca lla b le ..........
Indiana Stone R R first mortgage g u a r a n te e d -.--'6C
Indianap & Louisv 1st M $6,000,000 gold gu -S .c*
Chicago Indl tnanolis & St l.onis Short l ine— See Cl. velanr
A m ount
O u ts ta n d in g
R a te
%
1903
1903
1,000
1905
1,000
1905
1,000
1906
1,000
10 17
1,00
1,000
1800
1890 1,000 &c
1888
d o Series E due 5125.000 s-a (V 81 p 1043) .Ba
d o Series F due $220,000 s-a (V 82 p 750) -Ba
do Series G due $124,000 s-a (V 86 p 1284) .Bo
249
Chicago & Erie— 1st M g lnt guar till prln p a id -— Ce.c*
240
Incom e bonds lor $10,000,000 5 % non-cum ............N
Terminal first m ortgage gold - - - - - - - - - - - - - - - - - -
Chicago & Grand Trunk— See Grand Trunk W est Ry
C hicago Great W estern— Old s e c u r itie s to be retired u nder p Ian.
Debenture stock cumulative gold $30,000,000-------Preferred stock A $15,000,000 5 % gold.................
___ —
Preferred stock I) 4 % ($24,000,000 authorized)-----Common stock $50,000,000------------------------------------1903
Sterling 5-year notes (no mortgage) redeem at 101 —
Gold n o t e s - .- ...................................................
$13,604,280
13,831,165
17,810,168
* Each 100 shares of pref. B pay $1 .5 0 0 in m oney and receive on organiza
tion voting trust certs. In respect o f 15 shares o f new pref. and o f 60 shares
°* :c E ach*100°shares o f com m on stock p ay $1,500 In m oney and receive on
reorganization voting trust certificates In respect of 15 shares of new pre
ferred and o f 40 shares of new com m on stock.
(
.
.
rpup«A n/ivmrnts on com m on stock find pref. B must be made at the
office o l Jr P Morgan & Co in three installments, to be at least 3 0 days
aPThe tota^flxed^charge^o^ t?eSnewncom pany for rentals and Interest, Inm ?ereft on b on d l of subsidiary cos., after all the $28,000,000 new
bonds are outstanding, w ill approxim ate $2,399,280. while the net earnings.
it Is es tim a te d , s h ou ld b e a t least $ 4 ,2 6 8 ,0 0 0 .
F A R N T N frS __11 mos ,fl9 0 7 -0 8 _______Gross, $7,464,197; net, $804,024
jS y lt o M a y 3l
{ 1906-07_______ Gross. 7,381,867; net, 1.153.494
Earnings since Jan. 1904 are based on 818 miles o ^ o a d proper only the
net earnings o f the proprietary lines over bond Interest being Included.
R E P O R T .— R eport 1906-07, V . 85, p. 017. 102.
1905.
1906.
1907.
Y e a r e n d in g J u n e 30—
1908.
$9,139,087 $8,573,148 $7,377,711
Gross earnings— ............$7,975,080
2,539,493
2,339,279
2,038,618
Net incom e......................., 1,017,704
430,142
426,951
433,516
Rentals (Inch'equipm ent)!
372,237
450,127
368,726
Interest paid___________ jl,1 1 7 ,2 5 3 i
•
1,044,978
1,044,976
Int.ln cash on 4 % deb.stk. 1,118,464
1.044,984
(5)568,620
D lv . on pref. stock ‘ A --------------(21^)283,422
Balance
____ def. $1,218,013 sur.$130,604 sur.$126,706 sur.$10l,400
OFFICERS'.— Pres.. A. B. Stiokney; V .-P ., A. Oppenhelm; Treas R . O.
Barnard: all o f S t. Paul. N . Y . office, 31 Nassau S t.— (V . 88, p . 748,1196,
1497; V . 89, p . 162, 224.)
which 22 miles In operation. Extension proposed Gary to Joliet. V . 83,
d . 491.
Stock. $1,000,000, as Increased Aug. 1007; par, $100. Of the gen.
6s of 1907 ($4,000,000 authorized Issue), $815,000 were outstanding in
March 1009, guaranteed prin. & lnt. by Dolese & Shepard C o., Chicago.
V . 86, p. 107; V . 88, p. 685. F ory ea r ending June 30 1908, gross, $153,165,
net, $66,298: fixed charges, $23,038: balance, surplus, $43,260. Pres.,
W . E . Phillips. Office, 184 La Salle S t., Chicago, 111.— (V . 88, p. 685.)
CHICAGO IN DIANA & EASTERN R Y — Owns Converse, In d ., to
Muncle. 43 miles. In May 1907 the Pennsylvania Co. acquired all the se
curities, the road being operated as part of the Pitts. Cln. Chic. & St. Louis.
V . 84, p. 1181, 930. For year ending Dec. 31 1908, gross, $66,759; op. d ef.,
$33,510; other Income, $103; charges, $35,514; b al., d ef., $68,920.— (V . 84,
p . 350.)
CHICAGO IN DIA N A & SOUTHERN R R .— (.See M a p s N . Y . C e n t. A
TTnd R iv R R .) — Owns from South Bend, In d ., to Seatonvllle, 111., 192 m.
(form er Ind. 111. & Iowa R R .); Danville. 111., to Indiana Harbor. Ind .,
109 m .; branches, 11 m .; trackage, 28 m .; total. 340 m . Also owns 20 m.
^ T c i n s o ll d a t lo T A p r l M 906 of the Ind. 111. & Iow a. Ind. Har. R R . and
Demvfile & I n d .H a r . R R . V . 82. p. 8 0 3 , 867. S tock. $20,000,000, of
which $5 000.000 Is 4 % cum . pref. Lake fehoro & Mich. Southern owns
$17 000,000 and Michigan Central $3,000,000.
BON DS — Of th e4 sof 1906 ($20,000,000) .guaranteed b y the Lake Shore
& Mich. S outh.. $4,850,000 are reserved to retire the 4s due July 1 1950.
V 'lo ln ’tly ‘ w °th’fou r3other roads covenants to pay the N. Y . Central lines
f$3o 0 0 0 000) 5% equip, trust of 1907, the com pany’s share of equipment
leased bein g about $4,000.000. V . 85. p. 1401: V . 86. p. 168.
p A R N IN G S — 5 m os.,1 1909-______ Gross, $1,208,905; net, $270,414
198.780
J ? n .lt o M a y 3 1
\1908............. Gross. 1,077,979; net.
'
W h ere P a y a b le, and by
W hom
—Frlnet—
S to c k s
L a st
D iv i d e n d
& Sav B k, Chicago T o April 5 1913
& Co, New York T o Sept 1910
T o Jan 1 1015
do
do
Feb ’ 09-Aug ’ 15
do
do
Feb ’ 09-Feb ’ 16
do
do
Bankers’ Trust Co N Y O ct 09-()ot *17
Erie Railroad New York May 1 1982
Erie Railroad
, Oct 1 1082
Erie Railroad New York July 1918
111 Tr
Blair
July 15 1907 2
1 1907 2H
i A pr
R . Benson & Co, L o n - )
don. England
Various 1908
1909
JVarious
Interest from Sept 1 1909 1959
F
J
&
&
A Chase Nat Bk N Y ; or Ch Feb 1 1056
J Amer Trust & Sav Bk Ch July 1 1047
J
J
J
J
J
F
J
J
M
M
J
&
&
J Lincoln Nat Bank, N Y
J Treas Grand Cent Stat n
D J P Morgan & Co N Y
D
do
do
do
do
J
do
do
A
do
do
J
do
do
J
N Amer Tr & Sav Bk Chic
S New York
J Standard Trust Co N Y
&
&
&
&
&
&
&
A
&
July 1 1950
Jan 1 1056
June 28 ’ 09 1H
June 28 ’ 09 2%
July 1 1010
Aug 1 1911
July 1 1047
July 1 1047
May 1 1020
Sept 1 1948
Jan 1 1956
F or 4 m os. ending April 30 1909, net, $217,325, agst. $178,962 In 1009;
taxes, $50,000; other Income, $127,233; total deductions, $350,896; bal.,
deREPO°RT.8— R eport for year ending Dec. 31 1908 in V . 88, p. l369,
showed: Gross, $2,900,422; net, $976,592; other incom e. $04,809, charges
and taxes, $1,184,383; bal., d ef., $152,982.— (V . 88. p. 044, 1369, 1619.)
CHICAGO IN DIAN APOLIS & LO U ISVILLE R Y .— Operates the
“ Monon R oute” from Chicago, III., via Monon, Ind ., to Indianapolis, In d .,
and Louisville, K y ., with branches. The system Includes:
O p e r . u n d e r c o n tr a c t —
M d e i.
L in es ow ned—
M ile s .
Chicago to Indiana State L ine— 20
Indiana State Line to Indlan6
apoils _________________________162 New Albany to Louisville..............
New A lbany to Michigan C i t y ..-289 Connection In I n d ia n a p o lis ------ 2
Bedford to Swltz; City
............ 40 Clear Creek to Harrodsb’g, I n d - - 9
Orleans to French Lick S prin gs.. 18 Swltz City to west of L i n t o n - - - - 10
|W allace Jet. to Shirley Hill & br..60
T otal of all June 30 1908.......................................... ,-------- - - - - - - A lease for 909 years with Chicago & Western Indiana (of whose stock this
com pany owns $1,000,000) gives entrance to Chicago on a mileage basis.
Owns one-third Interest In Kentucky <fc Indiana Bridge at Louisville, K y .
Owns entire stock of Indianapolis & Louisville R R ., projected from at or
near Indianapolis to Evansville, & c.. of which 55 miles, from W allace J e t.,
In d ., to Shirley Hill, was opened Oct. 1 1007 and the branch from V icks
burg to Cass, 5 miles, Deo. 1 1907. Under supplemental lease dated May
10 1907 bonds are guar., prln. and lnt. See “ Bonds below . V . 82, p.
500; V . 83, p . 888. 1290; V . 85. p . 920; V . 87, p . 800; V . 88. p . 00.
H IS T O R Y .— Successor July 1 1897 of Louisville New A lbany & Chicago,
foreclosed per plan In V . 63, p. 022. Suit settled, V . 75, p . 1031.
In A ug. 1902 the Louisville & Nashville and Southern R y . acquired 93%
of $10,500,000 com . and 77% of $5,000,000 pref. stock, on the basis of $78
and $00 per $100 share respectively In their Joint 50-year 4 % collateral trust
gold bonds at par, secured by the stock acquired. See description of Donas
under Louisville & Nashville. V . 74, p. 1088, 1138; V . 75, p. 28.
D IV ID E N D S .— On pref., 1899, 1 % : O ct. 1000 to June 1909, both Inclu
sive. 4 % per annum. On co m ., 1902, 1 % : 1903. 3 H % : 1004. June. 1 )4 % .
D ec!, M i % i 1805 t0 1908. 3 % yearly (J. & D .); 1909, June. \
Ml
B O N D S .— R e fu n d in g m o rtg a g e covers road, equipm ent, &c. (Including
$1 000,000 stock of Ch. & W . Ind. and $240,000 stock of the Belt R y . of
Chicago): total authorized Issue Is $15,000,000, of which unissued balance Is
reserved to take up existing divisional bonds at maturity.
Indianapolis & Louisville guaranteed bonds, of which $1,500,000 sold In
F eb. 1006 for 60 miles of road; balance Issuable at $30,000 per mile. See
above. V . 82. p. 508; V . 83, p. 1200.
E A R N IN G S.— 11 m o s .,(1908-09___ Gross, $4,847,147; net, $1,440,160
July 1 to May 31.
\l907-08 ____Gross, 4,738,201; net, 1,308,202
F or 10 m os. ending April 30 1009, net, $1,289,337, agst. $1,203,742,
taxes accrued, $216,000; other Income, $246,509; lnt., rents, & c., $1,011,
422; bal., sur., $308,424. V . 88, p. 1619.
A N N U A L R E P O R T .— In V . 8 7 , p . 809 , s h o w e d :
1004-05.
Y e a r e n d in o J u n e 30— 1907-08.
1006-07.
10°5-06.
Gross earnings...................$5,167,160 $5,088,867 $5,021,002 $5,614,903
1,979,710
N e te a rn ln gs....................
1,163,702
1,825,416
1.083.063
160,432
Dividends, & c., received
272,423
261.166
240,475
T otal net Incom e------ $1,436,125
Interest on b ond s............
772,100
Rentals, &C.......................
301,662
$2,086,582
772,100
319.456
$2,232,538
772,100
262.301
$2,140,142
772.100
253,004
$1,001,556 $1,034,001 $1,025,104
$905,026 $1,197,637 $1,114,948
200.000
200,000
200,000
(3)315,000 (3)315,000(2 M )288,750
O F F IC E R S .— Pres., W . H. M cDoel, Chicago: V .-P ., M orton F . P lant,
New Y ork, E. C. Field, Chicago- T reas., Byron Cassell, 198 Custom House
Place Chicago: Gen Mgr.. B. E. Tavlor. Chicago: Sec.. .T. A. H ilton, 52
Broadway, N . Y . Directors— Fairfax Harrison and W . W . Finley, W ash
ington, D . C.; Chas. Steele, R . M. Gallaway, Morton F. P lant, New Y ork:
W H . MoDoel, Lewis W . Parker, E. C. Field, F. A. Delano, Chicago;
Samuel T . M urdock, Lafayette, Ind .— (V . 88, p. 99, 1436, 1619.)
CHICAGO JOLIET & KANSAS C ITY R R .— See page 168.
CHICAGO JUNCTION R R .— An elevated road, 3 . 7 5 miles of track
(opened April 1908), extending from Junction with South Side Elevated R k .
at 40th Street to the Stock Yards. Leased to South Side Elevated for
50 years (with right to purchase at cost within 20 years) at a rental
covering bond Interest and all expenses. Capital stock, $50,000. Bonds
are guaranteed, prln. & lnt., b y Chicago Junction Railways & Union
Stock Yards C o.; they are subject to call at 105 after 1910. Form of guar
anty. V . 82, p. 568.— (V . 85. p . 792; V . 87, p. 340.)
CHICAGO JUNCTION R A IL W A Y .— Owns Inner line within tho Chicago
Union Stock Yards district, 11.81 miles, side and Industrial tracks, 118.58m.
In ’ June 1007 the Vanderbilt (New York Central) Interests arranged to
acquire the outer belt line, assuming the $2,500,000 outstanding bond s,
leaving property free of liens. V . 85, p. 159, 792.
CHICAGO KALAMAZOO & SAGIN AW R Y .— Owns 55 m .. Pavilion 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: pref., $450,000: outstanding. $450,000 each; par o f
shares. $100. Loans and bills payable Dec. 31 1908 $369,581. In 1908,
gross, $169,742: net, $58,582; Interest and taxes, $33,575: bal., sur., $25,007.
Pres., H . B. Ledyard, Detroit; Seo., F. O. W aldo; Treas., J . E . Griffiths.
— (V . 61, P- 1063; V . 84, p. 50.)
CHICAOO LA K E SHORE & EASTERN R Y .— Embraces 362.52 miles
of track, connecting the various works of the Illinois Steel Co. at Chicago,
Joliet and Milwaukee with diverging trunk lines, and also with steamship
lines, stone quarries, industrial establishments, &o.; also, b y lc a s o a n a
trackage rights over 296.95 miles o f roads, reaches the coal fields o f Illinois
T o t a l ................................ $1,073,763
$2!000 !b067"outstandIng ", $1.000,000 (par of shares $100) . a m ajority being
owned b y Illinois Midland Coal Interests. The bonds
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 or any subsequent
Interest day. See V . 82, p. 452, 803. (V . 82, p. 803.)
B on ds
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
D ebenture-------------------------------—
--Preferred A ...............
• Preferred B ..............................$15
x C o m m o n _________________
15
[VOL. L X X X I X .
Surplus fo r d i v i d e n d s - - .
$362,362
D iv id e n d o n p r e f., 4 % . .
200 ,000
_______________________
____
D iv
id e n d o n c o m m o n
(3)315,000
1^
cc
>—“ I
O
cq
02
O
O
H
02
>■<
<1
<3
~r»
O
a
f*
j
P
►n
RAILWAY STOCKS AND BONDS.
36
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , A c . , s e e n o te s
o n f i r s t p a g e o f ta b les.
Chic Jol & K C— 1st M J 1 5 .0 0 0 .0 0 0 g red 105 text.C a
Chicago Junction R R - l s t M J2.327.000 g red 105 c*
Chicago Lake Shore & Eastern- —1st M guar red t e x t. ^
Federal equipm ent trusts, due $100,000 yrly May \
American equlpt trusts, due 360,000 yrly N ov 1
Ch M il& 0 — IstM J20.000.000 g red 105 beg ’ 1 8.S S txc
Chicago Milwaukee & St Paul— Com stock (see text).
Preferred stock 7 % yearly not cum J124,654.400..
Southern Minnesota Division first m o r t g a g e ..-F .c ‘
Mineral Point Division first m ortgage................ F .c’
Lacrosse A
do
do
W ise A Minn Dlv first mortgage g old ........................ 1
Fargo A Southern first mortgage gold assum ed. . . .
Ohio Mllw & St P Terminal mortgage gold ------ F .c 1
do
do
do
Debentures
do
do
do
Series A registered.
Series B registered
J50.000.000
auth
gold ............F xc’ r
M ile s
of
R oad
..
D a te
of
B onds
.
___
419
133
395
185
161
351
120
1,117
68
230
119
159
77
5,853
5,853
5,853
5,853
126
362
S 1,48£
r 7,391
r 7,39(
•
781
.
15(
121
Madison Kxten 1st M g (s t 523,000 not draw n). 5
11<
Menominee E xt 1st M g (s f 520.000 not draw n ). 5
62
Northw Union 1st M gold MUw to F ond-du-Lao. 5
bonds
a Also July 1009 additional general m ortgag
. 500: d
S iz e , or
Par
V a lu e
A m ount
R a te
%
W h en
P a y a b le
W h ere P a y a b le, and by
W hom
5 g
M A S
See text
M A S N W Harris A Co Chicago
J2.258.000
J A D
9.000.
0004
5
M A N
1.090.000
5
M A N
755,000
A A O St. Louis Un. T r. Co.
5 g
5.500.000
1,000
100 116.348,200 7 In 1908 Seml-ann N Y Office 42 Broadway
do
Seml-ann
do
7
100 116,274,900
do
do
J
A J
6
7.432.000
1880
1,000
do
do
A
J
J
5
2.840.000
1880
1,000
do
do
5 A 7 J A J
6.670.000
1880
1,000
do
J
do
A J
5
2.500.000
1879
1,000
do
do
J
A
J
6
1.928.000
1880
1,000
do
do
J
A J
6
5.049.000
1880
1,000
do
J
do
A J
6
3.000. 000
1880
1,000
do
do
J
A J
5g
1881
1,000 25,340.000
do
do
J
A J
1.360.000
5 g
1881
1,000
do
J
A J
do
5 g
4.755.000
1881
1,000
do
J
do
A J
6 g
1.250.000
1883
1,000
do
A J
do
J
4.748.000
5 g
1884
1,000
do
J
do
A
J
5
g
2.856.000
1886
1,000
do
A J
do
5
J
3.083.000
1886
1,000
do
A J
do
J
4 g
1889
1,0001 a2 3,841,000 /
do
Q—
J
do
\
4
g
1899
1.000J
do
do
A J
3H g J
1889
1,0001 a8,950,000 /
do
do
1 3)4 g Q — J
1899
1,000/
do
J
do
6
A D
1880
1,000
do
J
do
6
A D
1884
1,000
do
J
A J
do
1909
l.OOOAc
4
1909
7 In 1909 J
A J Co’ s office 111 B’ way NY
100
do
8 In 1908
do
Q— J
100
do
7
Q— F
do
1865
1,000
do
7
M A N
1866
500 Ac
do
A
O
do
7
g
A
1871
500 Ac
do
A D
J
do
7 g
1871
500 <Scc
do
5: A S
do
7 g
1872
500 Ac
ee t e x t ).
n 51.08 9.000 additional In treasu
In trea sury and
s J AJ; r eglstered Q-—j .
5135 000. X C
1908
1905
1909
1905
1905
1908
51,000
and Indiana,and Joliet, 111., handling betw een South Chicago and these
points a large trafflo lor the Illinois Steel Co. Stook, 59,000,000, being In
creased from 52,760,000 In June 1909: all owned b y the Illinois Steel Co.
and so b y the United States Steel C orporation, w hich, with the Biffin Joliet
& Eastern, guarantees the bonds, principal and Interest. The last named
leases the road for 50 years from June 1 1909.
Bonds are redeemable In 10 years at 110 and Int., they are limited to o 0%
of cost of property. V . 88, p . 1372; V . 89, p. 224.— (V . 89, p. 224.)
CHICAGO M IL W A U K E E & G A R Y R A IL W A Y .— This road, when
com pleted, will form an outer belt line 267 miles In length, extending from
Milwaukee. W Is., to Gary, In d ., connecting with all of the 32 main trunk
lines entering Chicago. Of this, R ockford . 111. to Momence, 125 miles.
Including Elgin Joliet A Eastern trackage between Aurora and Joliet, 24
miles, was In operation In April 1908. An extension Is to be built at once
from Momence to Gary. 42 miles. A line Is also to be constructed from the
northern terminus at R ockford through Beloit and Janesville to Milwaukee.
100 miles. Large terminals are being acquired at Gary and Milwaukee.
Incorporated March 5 1908 as a consolidation of the Illinois Iowa &
Minnesota R y .. R ockford Belt R y . Milwaukee R ockford & Eastern R y .
and Illinois Indiana A Gary R y . V . 84. n. 508, 1307. V. 86, p. 601.
In March 1909 Interests represented b y the St. Louis Union Trust Co. acqulred control or practical con trcl. Y \ 8 8 ,iP" 0
«nn nnn .
Stock authorized. 510,000,000; outstanding, 55.500,000; par, 3100.
B O N D S.— On April 1 1908 a mortgage was executed to the St. Louis
Union Trust Co. and Illinois State Trust Co. of St. Louis as trustees to
secure an Issue of 520.000,000 of 4 0 -year 5% bonds, of which 55.500,000
have been Issued to acoulre the property of the Illinois Iowa A Minnesota
and subsidiary com panies, the remaining $14,500,000 bonds being reserved
for extensions to Gary and Milwaukee, equipm ent, terminals, elevators,
coal docks and facilities at Gary and Milwaukee, of which about 510,000,000
to be used at present to com plete the line. V . 86, p. 980, v . 88, p. 685.
Pres , Albert T . Perkins, care S t. Louis Union Trust C o., St. Louis.— (V .
88, p. 685.)
CHICAGO M IL W A U K E E & S T .P A U L R Y .— Operates from Chicago
westerly to St . P a u l , Minneapolis and Lake Superior Omaha N eb., and
K a n sa sY ity, M o., with lines traversing Illinois, Iowa, Missouri, Michigan,
W isconsin. Minnesota and the Dakotas, viz.:
T>nrLrl
M ile s . I R oad —
M ile s
Lines owned June 30 1908 (of
1Second and third traoks................463
which 1 2 8 miles owned Jointly) 7 ,3 0 1 1Trackage (Including 2d tra o k s).. 277
H IS T O R Y E TC.— The Milwaukee & St. P.aul R R . Co. was organized
Mav 5 1863 and on Feb. 11 1874 took Its present name. The system has
■inne heen ereatlv extended by the construction and acquisition of other
lines. Sale of Milwaukee & N or. to the St. Paul was ratified Sept. 1893.
The Pacific extension, from western terminus at Glenham, S. D ., to
Seattle and T acom a, 1,489 miles (of which 26 miles to be owned Jointly
with Union Pacific), Including 66-mlles Lewiston branch, known under
name of Chicago Milwaukee A Puget Sound R y. (see statement below ),
was com pleted In June 1909; 419 miles of branches are contem plated. Sec
V 84 p. 219; also V. 81, p. 1609, 1664; V. 83, p. 94, 686, 1469; V . 85,
p.*468, 792; V. 87, p. 543; V . 88, p. 99, 294, 748, 882, 944, 1252.
C A P IT A L S TO C K .— The pref. stock has a prior right over the com . stock
to a dividend of not over 7% from net earnings In each year, but It not
earned It has no cumulative right. A fter paym ent of 7% on pref. and 7%
on com ., both classes share p r o r a ta .
In A ug. 1906 stockholders were olTcred the right to subscribe to 525,000,
0 0 0 com . stock at par. In Dec. 1906 stockholders subscribed pro rata for
566,214,400 pref. and 533,241,100 com . stock at par, payable In install
ments to March 1 1909. The proceeds will provide for the cost of the
Pacific Coast extension, of which the total cost to Jan. 1909 was 582,000,000,
419 miles of branches estimated to cost $10,465,000, and part payment for
rolling stock. This Increased the amounts outstanding to $116,274,900
pref. and 5116,348,200 com . stock. V . 83, p. 1523; V . 84, p. 50, 101;
V . 85, p. 98, 1338; V . 88, p. 293.
Dividends since ’ 911 ’ 92. *93.’ 94. '95. *96. '97-’ 00. *01. ’02 to ’ 08. 1909.
On com m on, % ) 2
4 4
2
4 5 y ly .
0
7 y ly. Mch »3 )|
On preferred, %J 7
7 7
7
7 7 y ly.
7
7 y ly. M ch.,3)4
B ON DS.— Abstracts of some of the older mtges. were published In the
"Chronicle,” V . 45, p. 85, 114, 144, 212, and V . 4 8 , p. 830.
The g e n e r a l m o rtg a g e of 1889 (see abstract In V . 48, p. 830) Is for 5150,
000,000 to the United States Trust Co. of New Y ork, as trustee, and covers
the entire railway property and franchises of the com pany (therein de
scribed) subject to prior liens as below mentioned. The prior lien bonds can
not be extended but will be paid off at m aturity.
In July 1909 the following amounts of general mortgage bonds had been
Issued or were reserved for the purpose indicated, viz.:
Am ount In the hands o f the public------------------------------------------In treasury of the com pany (unsold)--------------------------------------- 40,629,000
Total reported b y the com pany as outstanding---------------------503,420,000
Reserved for prior liens_________________________________________ 8 L454,000
Retired by sinking fund________________________________________ 5,126,000
Total authorized____________________________________________ 3150,000,000
In May 1909 the Chicago Milwaukee & Puget Sound R y . filed a mortgage
to the United States Trust Co. of New York as trustee to secure an authorlzen
Issue of 5 1 0 0 ,0 0 0 .0 0 0 of 30-year 4 % bonds, dated Jan. 1 1909. V.88,p,1252
In June 1909 525,000.000 o f an authorized Issue of 550,000,000 4 % 25
year debentures were sold, the proceeds to bo used onlelly to construct
branches and feeders to the Paclflo extension. Tho debentures are to bo
Included In any new mortgage. V . 88, p. 1559.
G E N E R A L FIN AN CES, ETC.— Capitalization per mile of road June 30
1908: stock, 518,264; bonds, 517,213: Int. charge, 5809; average capitaliza
tion of entire system from Chicago to the Pacific Coast to be about $38,000
a mile. V. 85. p. 1338. As to Pacific extension, see "H istory” above.
In 1908 the Union Paclflo system (Oregon Short Line) owned 34,612,500
com m on and 51,845,000 pref. stock. V . 87, p. 1549.
[V O L . L X X X IX .
B o n d s— P r in c iS to c k s — L a s t
D iv i d e n d
March 1 1938
Mch 1 1945
June 1 1969
T o May 1 1920
T o N ov 1 1922
Apr 1 1948
Mch 1 ‘ 09,
Mch 1 '09, 3)4
Jan 1 1910
July 1 1910
Jan 1 1910
July 1 1919
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 1934
Jan 1 1949
July 1900
3)4
July 1 1909 2 %
Feb 1 1915
May 1 1916
Apr 11011
June 1 1911
June 1 1017
ry.
In A ug. 1906 stockholders subscribed to 525,000,000 com . stock and
In D ec. 1906 to $66,214,400 pref. and 533.241,100 com . stock at par, with
Installments payable to March 1909. Sec STOCK above.
In N ov. 1908 had recently com pleted In Its shops 2,500 stock cars and
given orders to build 7,500 freight cars. V . 87, p. 1237.
„
Average freight train-load In 1907-08 was 274 tons, rate per ton per mile,
0.812c.: In 1906-07, train-load 279 tons, rate per ton per mile. 0.856c.
E A R N IN G S .— 11 m o s .,(1 9 0 8 -0 9 ..G ross, 554,912,827; net, 519.541,813
July 1 to May 31.
\ 19 0 7 -08 -.Gross, 52,541,355; net, 18,314,726
A N N U A L R E P O R T .— Fiscal year ends Juno 30. Annual m eeting Is held
In Sept. R eport for 1907-08 in V. 87, p. 674: owing to changes In classifi
cation , comparisons with previous years arc Inaccurate; editorial, p. 650.
1907-08.
1006-07.
1005-06.
7,499
7,267
6,061
Averago miles operated June 30.........
Passenger earnings.................................311,883,305 312,102.106 511.123,545
Freight earnings...................... ............... 40,426,880 44,115,059 40,187,710
4,111,798
4,331,299
Mall, express, A c., earnings------------4,622,346
T otal earnings........................................ 356,032,621 360,548,554 555,423.053
Maintenance of way.............................. 56,642.820 55,830,868 55,055,432
Maintenance cars and engines.............. 7,039,270 8.580,757
5.598,046
Transportation and traffic................... 22,642,251 22,782,468 10.699,381
T a x es............................................
2,304,063
2.286,097
1,730,729
Renewal a ccou nt .......................................................
...........
1,511,758
Additions to property.............................................
046,868
712,331
Miscellaneous--------------------------------839,027
1,250,349
1,236,654
Total expenses........................................ 539,468,331 541.686,507 336,444,331
Net earnings.............................................. 317,464,290 318,862,048 518.978.722
Other Income----------------------------------1,052,662
1,068,736
258,359
T otal net incom e............................. ..318.516,952 310.930.784 310,237,081
$22,909
...........
-- -Net rentals, A c . ------------------- ------------------ 55.042,140 55,913,850
5,916,760
Interest on d eb t------------. . . ---------498,831
2,540,467
New equipm ent------------------------------
Balance for dividends........................ 312,577,283 313,489,813 510,782,764
Dividend on common, 7 % ................ 55,817,497
35.810,598 54,072,872
3,495,373
3,485,503 3,472,868
Dividend on preferred, 7 % .................
Balance, surplus................................. $3,264,413 ~54,103.712 53,237.025
New York;
Broadway,
O F F IC E R S .— Chairman. Roswell Miller, 42 -----.
_
Pres., Albert J. Earllng, Chicago; Trcas., P. G. Ranney. Chicago; Gen.
M gr.. W . J. Underwood; Sec.. E. W . Adams. Milwaukee. WIs.
Directors— Roswell Miller. New York; A . J. Earllng, Chicago: Frederick
Layton, L. J. Pettit, Milwaukee; J. Ogden Arm our. Chicago; Frank S. Bond,
William Rockefeller, Peter Geddes, John A . Stewart, Percy A . Rockefeller,
W alter P. Bliss. Charles W . Harkness, Henry II. Rogers New York.
N. Y . office, 42 B roadw ay.— (V. 88, p. 882, 044, 1252, 1408, lo50.)
CHICAGO M IL W A U K E E & PUGET SOUND R Y .— {S e e M a p . ) — This
road forms tho Pacific extension of the Chicago Milwaukee A St. Paul R y ..
com pleted through to Seattle and opened July 1009. Extends from
Pontls, S. D ., to Seattle anil Tacom a, 1,489 miles, Including 66-mlle Lewis
ton branch, of which 26 miles from main line to Tacom a Is ow ned join tly
with Union Pacific. The com pany has authorized Its 1st m tgo. 4 A bonds
dated Jan. 1 1909, U. S. Trust C o., trustee, for 5 2 0 0 ,0 0 0 ,0 0 0 .
Of these
bonds, $100,000,000, together with like am ount of stock, has been turned
over to the C. M. A St. P. R y . treasury for the 5100,000,000 advanced for
construction. Bonds cover road, terminals and equipment, and run to
maturity.
CHICAGO & NORTH W ESTERN R Y .— {S e e M a p .)— Operates an Im
portant system of roads uniting Chicago, 111., with Omaha, N eb.. St. Paul,
Minn., with the great wheat belts of Dakota, Nebraska, A c., and with the
mining regions of Michigan and the Black Hills, Including—
R o a d ow n ed in f e e —
M ile s . I
M ile s .
Main lines, A c.............................7 , 3 9 0 |De Pue Land A East, (le a s e d )..
3
38
E n ti r e stock o w n e d —
|Sundry trackage_______________
Princeton A W estern__________
161
--------W olf R iver V alley.........................
2 I T otal July 1 1908..................... 7,632
Manitowoc Green Bay A N. W .
ISecond track---------------------------- 815
(leased)______________________ 123 I L a r g e in ter e s t o w n e d —
St. Paul Eastern Grand Trunk
IChlcago St. Paul Minneapolis
601 A Omaha____________________ 1,729
(le a se d )____________________
H IS T O R Y , ETC.— A Vanderbilt lino (V . 75. p. 1086) organized In 1859.
In July 1884 the capital stock of the Fremont Elkhorn A Missouri Valley
was acquired, and In Feb. 1903 the road was absorbed. Its securities, ex
cept those held by Chic. A N. W ., are In table above. V . 75. p. 514, 616.
In 1900-05 various proprietary roads were purchased. V . 71, p. 2 91,294;
1010;
V. 81, p. 840. In fiscal year 1907-08,
V . 73, p. 294, to
il); V.
v . 75.
75, p. 446;
4
175 miles were com pleted. V . 87, p. 881.
C A P IT A L STOCK.— Of the com . stock, 52,340,397, and of tho pref. 53,
835 remained In com pany’s treasury In Jan 1909.
Pref. stock has prior
right to 7 % ; then com . 7 % ; then pref. 3 % ; then com . 3 % ; then both classes
share. In 1Q03 the authorized com . stock was Increased from $41,448,366
to 577,601.045 and In Oct. 1906 to 5177,604.800 (making the entire stock
5200,000.000). Stockholders In Feb. 1907 subscribed for 524,401,600 com .
stock at par, raising amount outstanding to 599,612,300. V . 84, p. 157.
On June 30 1908 the Union Pacific system (Oregon Short Line) owned
53,215,000 stock.
The c o n s o lid a te d s in k in g f u n d b o n d s of 1915 have voting power.
D IV .— 1’ 86 t o ’ 93. ’ 94. ’9 5 . ‘ 96 t o ’ 99. ’ 00. ’ 01. ’ 02 to ’ 08.
1909.
C o m - - ) 6 yearly.
3
4 5 yearly.
6
6
7 yearly.
7
Pref - - J ----------------------- 7 yearly--------------- -------- ---------------- 8 yearly------------B O N D S .— G en er a l M o r tg a g e .— See Abstract In V .” 65, p. 1175. The
authorized Issue Is 3165,000.000 (U . S. Trust C o., trustee); 3131,645,000
were reserved to retire underlying bonds, and remainder for additions and
Improvements. 54.000.000 at once and 5 1 ,0 0 0 .0 0 0 a year thereafter. V . 65,
p. 1070; V . 65. p. 69, 111, 571; V . 75 p. 980; V . 88, p. 280, 563.
%Devil'.sLake
CHICAGO & NORTHWESTERN
R A IL W A Y
9 j4 8 5
St. Hilaire
Ladmvru1
NewRockfordi
Sykeston- .Carrington
^cnves
1Crookston
Junction'
Jarraen
Fenttla
SYSTEM .
.Fosston
Towerc
Lake,
WinntbiuosTiish
CooVctS]
Grand Rapids.
leech Lake
Miles.
Jc.
'Chicago &
. North-Western Railway
■Chicago St.Paul, Minneapolis &Omaha Ry,
I
Everestc
Davenport,
e,SMARC<
Park
-Rapids
IBarnesvllle
Lisbon
Aitken
Waderno^
'Milnnr0 WtthPgj^
^erguTFalls
treckeuVJdge
OAKES/
Lincoln'
Lullden/i
Eureka'
OSBORN
[orcer
Little Falls
y.
Columblj:W o
Brown’s Valle;
Sauk^Centr
Morris'
\Woodrul
Rhinelander
'arnell
pdie.i
'urtle LakcyC^
GROTON
.Mansfield]
Moreau
•thormv
BralH$||jfiH* Lacs
powers]
Wi!lma>
BURG
-HopklnSi
!baska.
Mhitcomb^
(CLINTON
rapids
hekooI
Brennan
lermosa
Chamberlain;
While
I3UFFALO GAP
w
f °u4
.„
%*/p0<^ c
MITCH ELI
Rosebud I
4
ilRMO^JT
Sibley,
sioux
kIIawarded?
To L a n d er
g T f S M iles
MOfm>fcy.ui
kMEDINA JC-Q
Vilas>
Edgemontjjc.
La\
CHICAGO
Gillette
.Luverne
’rarieMu^Chiei
Hampton'
VipO CnfAH
Wtaont
> \ NORTH
Idoror
LANCASTER,
Dubuque^
NOR.
?**■ .< #
■fe
iONAWJ
NTH
ALBIQNNL _ / '
Hu
C0 i
Ogallala
XexingtoTT
Greeley
DENVER
'e^pkCJ^
UCHAKINOCi
^ I lTn COL-f
Holdred*
Oxford Jc.
Blue Hilly
Galesbui
Charitoi
:kham
Inland
Curtis
Culbertson
mo- ___
Akr.on
'hat Cheer^
Grand Islal
J ulesbun£~
Stcrling>o^<
SCfli BNrUH
Broken Boi
ror.tfi PJa'tte
Nebraska City'
>Beatrlce^vJc*
Falls'cltj
,Sfeldon\
Burlington;
.Streator J<
Hanovei
[eokuy
s® Concept!col
Busbneir
Pekin
Teijipletot^
J^arlington
Chillicothe
Macon
SPRINGFIELD
locator
R A IL W A Y
;}8
STO C K S
A N D
BO N D S.
IN T E R E S T O R D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , A c . , s e e n o te s
o n f i r s t p a g e o f ta b les
M ile s
of
R oad
Chicago & North W estern— (.C on tin u ed ) —
184
W inona & St Peter 1st M ext g land gr s f a ss.-F .c*
76
North 111 1st M ($20,000 per mile) a ssum ed.-U n.c*
413
Mllw Lake Shore & W cons M (now 1st) gold -.C e.c*
82
Michigan DIv 1st M d or $3,000,000) g o ld -.-C e .c *
40
Ashland Division first mortgage gold ............Ce.c*
693
E x t & Im p M for $5,000,000 g s f not drawn.C e.c*
Incom e bonds (not cumulative) no coupons------ r
'4 0
Marsh E xt 1st M $600,000 ($15,000 p m )..U n .c *
O & N W s f bonds of ’ 79 ($15,000 p m )red at 105F.cr 1,041
Sinking fund debentures 1933__________U n.c’ i r
25-year debentures........... ....................... - U n . c ’ &r
Chicago & North Western 30-ycar deben. Un.c* &r
Extension 4s $20,000,000 ($20,000 p m )..U n .c & r
General gold bond mtge $165,000,0 0 0 ---U s.c* & r
do
do
do
registered..
Manlt’o Gr Bay & N W 1st g gu M (V 88,p230)F.o* &r
114
50
Mllw & State line 1st M g g u (V 8 8 .p 2 3 0 )..F .c* & r
D a te
Of
B on ds
1871
1885
1881
1884
1885
1889
1881
1892
1879
1891
1884
1891
1886
1897
1807
1906
1906
S iz e , or
Par
V a lu e
A m oun t
O u ts ta n d in g
B ra n ch L in e B o n d s A ssu m ed
The s in k in g fu n d b o n d s of 1870 are secured b y deposit In trust o f $15,000 ,
000 o f 1st M. bonds at $15,000 per mile on subsidiary lines, the most Im port
ant being described In “ Supplem ent” o f May 1804. Of the sinking; fund
bonds o f 1870 $5,431,000 are 6s; the sinking; fund Is at least 1 % o f out
standing; bonds, which are sublect to call at 105, and througrh Its operation
thoso outstanding; have been reduced from $15,000,000 to theam ount In table.
The s ln k in o fu n d d e b e n tu r e s of 1033 have a sinking; fund of $200,000 per
year. If they can be redeemed at 105. See page 2, “ Supp.” of April 1805.
The e x t e n s i o n b o n d s o f 1886 are secured by deposit in trust o f first m ort
gage bonds at a rate not exceeding $20,000 per mile
Included In the collat
eral July 1 1908 were $10,675,000 Frem ont Elkhom & Mo. Valley Ists and
$2,560,000 W yom ing Central lsts (consolidated with F. E. & M. V . ) , &c.
The F r e m o n t E l k h o m A M i s s o u r i V a li e v consols have a first lien on 1,170
miles (F rem ont, N eb ., to Dead w ood , D . T , 557 miles, and branches to
Hastings A lbion, & c., 613 m iles). but besides the amount of 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
& North W estern extension bonds o f 1886.
G E N E R A L FIN A N C E S.— Stockholders In Feb. 1007 subscribed for
$24,401,600 com . stock at par, the proceeds to be used for Improvements,
equipm ent. &c. V . 82, p. 452; V . 83, p . 379, 817, 1098. New terminals
In Chicago to cost $20,000,000 are to be com pleted Jan. 1910. V . 87, p. 470,
881, 1150. In Jan. 1909 sold $16,250,000 3 H % bonds, lncl. $10,000,000
generals. V . 88, p . 230, 563.
E A R N IN G S.— 11 m os.. 11908-09
Gross, $60,306,934; net, $21,119,369
July 1 to May 31.
J 1907-08_Gross, 58,400,825; net, 19,660,681
Statement for calendar year was In V . 88, p . 342, showing:
Y ear
G ross.
N et.
C h a r g e s ( n e t ) . D iv id e n d s .
$20,288,058 $5,634,616
20,163,774 5,671,401
$8,764,272
8,764,111
R a te
%
$100 &c $k4,038,500
l S
1.500.000
1,000
5.000.
0006 g
1,000
6 g
1.281.000
1,000
1.000.
000
1,000
£ g
4.148.000
1,000
l*
500.000
1,000
5
400.000
1,000
1.000 &c 11,78) .000 5 & 6
5
9.695.000
1.000 &c
5
1.000 &c f5 ,369,000
5
1.000 &c g9 ,819,000
1.000 &c hl7,489,000
;
34*
m30271,000
1000 & cl
l
34*
1000 & cj
3.750.000
34*
1.000 &c
3 4*
2.500.000
1.000 &C
90 1898 1.000 &c
Boyer Valley R y 1st M g $16,000 per m lle_F.c*&r
119 1899 1.000 &c
Minn & Ia R y 1st M gold $16,000 per m lle.-F .c*& r
1,000
26 1809
Mankato & New Ulm 1st M gold $416,000.-F .c*& r
56 1900 1.000 &c
Southern Iowa first mtge $1,120,000 g o ld ..F .c* & r
105 1901 1.000 &c
Princeton & Northw 1st M $2,100,000 g o ld -.F .c& r
85 1901 1.000 &C
Peoria & Northwest 1st M $2,125,000 g o ld -.F .c& r
125 1901 1.000 &c
Sioux City & Pacific 1st M gold $4,000,0 00 --F .c& r
33 1900
1,000
Minn & So Dak 1st M gold $528.000......... -- - F .c *
195 1900 1.000 &c
Iowa Minnesota & Northwestern 1st M gold.F*c*& r
1,000
Frera Elk & M V cons M $25,000 per mile assumed 1,170 1883
235 1900
1.000
Chicago Peoria & St L— Pr lien M g call at 107 M - J a*c *
235 1900
1,000
Consol m tge $2,000,000 gold call at 105..........Ta c*
235 1900
1,000
Incom e m tge gold (text) non-cum call at par---------1902 1.000 &c
Chtc R I & Pac R R — Coll tr M $75.000,0 0 0 ..C e.c+ & r
1,000
1903
Collate! al trust M $18 500.000 gold red 102 4* .C e.c*
100
Chicago R ock Isl & Pacific R v - S t o c k ($75.000,000)
764 1877 100 0 &c
First M Chic. 111.,to Council B lu ffs* branches U s.c*
In addition sinking fund Jan. 1909 held: f $521,000 (and $10.00 0 on han
n $16 0,000; o $74,000
m $1,045,000 (also $9,322,000 on hand):
1908...........$62,415,759
1007______ 69,338,593
[V o l .
B a l.,s u r .
$5,889,170
5,728,262
R E P O R T .— The annual m eeting Is held the third Thursday In October.
R eport for 1907-08 at length In V . 87, P g8^ 880’' Cio o 8-o7 .P‘ Dec ( _ ) o r
W h en
P a y a b le
W h ere P a y a b le, an d by
W hom
J
& D Co’s Office 111 B’ way
do
do
M & S
do
do
M & N
do
do
J & J
do
do
M & S
do
do
F & A
do
do
M & N
do
do
A & O
do
do
A & O
do
do
M & N
do
do
M & N
do
do
A 15 & O
do
do
F 15 & A
do
do
g M & N
do
do
g Q— F
& J
do
do
gJ
& J
do
do
gJ
1.440.000
34* e J & D
1.004.000
3 4* g J & D
p416,000
34* g A & O
3 4* g M & S
NoneJan’ 09
nl ,940,000
34* g J & J
2.125.000
34* g M & S
03.926.000
34* g F & A
& J
528.000
3 4* g J
3.900.000
34* g J & J
A & O
7.725.000
1 875,000
44* g M & S
J & J
2,000,000
5 g
2,000,000 Up to 5 % when
M & N
70.388.000
4 g
M & S
17,364,180
5 g
74.851) 600 5 4* In ’08 Quar.
.1 & J
6
12.500.000
d ); g $181 000; h $ 1,143,000
; p all In s.f.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
L iberty Nat Bank
July ’ 08 coup last paid
earned
First National Bank N Y
do
do
Office 115 B’way N Y
First National Bank N Y
; k $202,500;
l x x x ix
.
B on d s— P r in c i
p a l, W h e n tD u *
S to c k s — L a s t
D iv i d e n d
Deo
Mch
May
July
Mch
Feb
May
Oct
Oct
May
N ov
Apr
Aug
N ov
N ov
Jan
Jan
11916
1 1010
1 1021
1 1024
1 1020
1 1929
1 1911
1 1922
11929
1 1933
11009
151021
151926
1 1087
1 1987
1 1941
1 1941
Deo
June
Oct
Sept
Jan
Mch
Aug
Jan
Jan
Oct
Mch
July
July
N ov
Sept
July
July
1 1923
1 1924
1 1029
1 1925
1 1026
1 1926
11936
1 1935
1 1935
1 1033
1 1030
1 1930
1 1030
12002
1 1913
1 ’09 1
1 1917
authorized Issue o f $18,500,000 collateral trust 5s o f 1913 had been Issued .
with The R ock Island C o.stock In p a ym en t.for $28,940,300 of S29.000.000
St. Louis & San Fran. com . stk. V . 76. p . 1406. Total Income In 1907-4)8,
$3 ,7 1 3 ,7 8 4 ; expenses, $2,246; lnt. on bonds, $3,873,645; dlvs. to The
Rock Island Co., $75,000; bal., def. for year, $37,107.— (V. 87, p. 1154.)
CHICAGO ROCK ISLAND & PACIFIC RY
— ( S e e M a p R o c k I s la n d C o . ,
118 a n d 119.)— The system extends from Chicago. 1 1 1 ., via Om aha,
N eb., to Denver & Colorado Springs, C ol., and via Kansas C ity, M o., to
Santa R osa. New Mex. there connecting with the lines o f the New M exico
R y. & Coal Co. and forming with them and the Southern Pacific a through
line to the Pacific Coast; also from T ucum carl, N. M ., to Memphis, T enn .,
>nd to Fort W orth. Tex . on the south and on the north to Minneapolis.
Minn., and W atertow n, S. D .. with numerous branches, viz.:
L e a s e d — (*See this co.)
M ile s .
M il e a g e o w n e d —
M ile s .
C hic., HI , to Colo vSp’gs, C o lo .1,064 Keokuk & Des M oines*............- 162
47
D avenport, la ., to Terral. I. T . 708 Peoria & Bureau V alley*-----W hite & Black R iver V a lle y * ..
62
H erlngton, K an., to T exh om a,
O T ............................................ 323 Little R o ck & H ot Springs
W e ste rn *-------- -------------------22
Burl’g t’n .Ia -.to Mlnn’ap.,M lnn. 308
V inton, la ., to W atert’n , S. D . 376 R ock Isl. Ark. & Louisiana------ 307
Branch lines.................................. 2,061 T r a c k a g e to St. L ouis, Denver,
Pueblo, & c---------------------------- 695
C a p it a l stock a ll o w n ed —
90
Choc. Okla. & Gulf (leased)___ 083 Other lines under con struction.
Chic. R . I. & El Paso................ 112
Chic. R . I- & G ulf...................
491 T otal mileage oper. and under
construction June 30 1 9 0 8 ..8,09 5
St. Louis K C. & Col................ 284
pages
The R o ck Island Interests In April 1906 acquired a half Interest In the
Trinity & Brazos Valley R y . , owning a line from Cleburne to H ouston, T e x .,
236 miles, with branch to W axahatchle, 70 miles, and trackage rights from
Cleburne to Fort W o rth . W axahatchle to Dallas and Houston to Galveston.
Extension from Little R ock , A rk., to Crossett and Summerville, A rk.;
to Eunice, A la., 308 miles, under charter of R ock Island Arkansas & LoulsL
ana R R .; 308 miles was com pleted early In 1908. See BON DS below.
O p e r a tin g R e v e n u e s —
$
f_ . . .
ln c- (+ ) •
Average miles ODCrated______________
-f-80
F reigh treven u e- ...................................... 41,049.630
46,705,044 — 4,846,315
Passenger revenue1................................ 15.734,607
15.092,110 — 257 503
^ l i ; express; & c ! ....................................
5,535,107
5,571,312
— 38 205
T o t a l op e r a tin g r e v e n u e s .................... 6 3 ,2 1 9 ,3 4 4
T o ta l n et In c o m e _______________________ 2 1 ,866,161
R e n ts — d e b its . . __________________
4 60 ,159
In terest o n b o n d s, & c ........ ........... ............
Sinking fu n d s a n d o th e r p a y m e n ts ----2 62 ,126
D iv id e n d s o n c o m m o n s t o c k , 7 % ------6 ,9 7 2 ,6 7 2
D iv id e n d s o n preferred s t o c k , 8 % ----1 ,7 9 1 ,6 0 0
Balance, surplus............................. ..
O ld B a s i s —
A v e ra g e miles op erated.
100 6-0 7.
7,551
4 ,8 7 4 ,4 1 0
100 5-0 6.
7,4 2 9
68,35 9 ,3 6 5
24,013,071
290,711
7 ’Z 5 ?’i i 5
231,676
6,11 8 ,5 7 7
1,79 1 ,6 0 0
H IS T O R Y .— A consolidation June 2 1880 with $50,000 000 stock
In July 1908 $70,199,000 o f the $74,859,600 capital stock had been d e
posited per plan V . 75, p, 239, each $100 stock being exchanged for the fo l
lowing securities: $100 In 100-ycar 4 % gold bonds o f the Chic. R . I. &
Pac. R a ilr o a d (of Iowa) and $70 pref. and $100 com . stock o f the R ock
Island C om pany” (of New Jersey). which owns the entire capital stock of
— 5,140,021
the R a ilr o a d com pany. See statements for those companies.
— 2 ,1 4 6 ,9 1 0
In 1902 m ost o f the stock o f the Burlington Cedar Rapids & N or. and
+ 1 6 9 ,4 4 8
R ock Isl. & Peoria was acquired, and their roads leased from June 1 and
— 244,931
subsequently deeded to the C. R . I. & P . V . 74. p. 1194, 1250.
+ 3 0 ,4 5 0
+ 8 5 4 ,0 9 4
D IV ID ’S 1
’98. ’99 to ’ 02. ’ 03. '04. 05. ’ 06. ’07. 1908.
1009.
______
since 1 8 9 7 ../% 44* 5 yearly 74* 844 6 M 0
■>« 1 .1 H .1 .W )
7 ,8 3 0 ,3 8 8 — 2 ,9 55,069
190 4-0 5.
1003-04.
7,408
7,4 0 4
Gross e a rn in g s--............. $68,878,931 $63,481,578 $55,745,275 $53,334,634
Net (after taxes)............. $21,625,172 $21,265,302 $17,095,963 $16,107,525
$22,871,382 $18,631,798 $17,596,760
T o ta l net receipts............. $23,355,752
O F F IC E R S .— Pres., Marvin H ughltt, Chicago; V .-P ., E . E. Osborn, 111
B ’w ay, N . Y .: Treas. and Asst. S ec., R . II. W illiams, N . Y .; Sec., John
Davis Caldwell.
Directors— W . K . V anderbilt, F. W . V anderbilt, II. M cK . T w om bly,
Samuel F. Barger, Chaunecy M. Depew James Stillman, James C. Fargo,
Frank W ork E . E. Osborn. N .Y .; Marvin Hughltt, Byron L. Sm ith, Cyrus
H. M cCorm ick, Chauncey K eep, Chicago; II. C. Frick. Pittsburgh Pa.;
D»vld P. K im ball. Oliver Ames. Boston; Zenas Crane, D alton. Mass —
(V . 87, p . 1159, 1604; V . 88, p. 230, 204, 374, 504, 563, 1252.)
In 1006, Jan., 14*% from earnings of five m os.; A p r i l qno7 ’ 4 ? •
O ct.. 2 % : 1907 Jan.. 1% : April, 1 U % . Jnlv 1 % : O ct.. 1 «<% . 1908 Jan ..
1 %• April 1 44%• July. 1 %• O ct.. 1 % % ; 1909, Jan., 1 % , April, 14*% .
Special distributions, lncl! $1 63 per share Juno 17 1905, see V . 80,p.2398,
BON DS.— Of the general 4s o f 1898 those unissued are available as fo l
lows: $21,900,000 at not over $1,000.000 per annum ^ P . ^ ^ E ^ J ^ P r o v e -
first lien (either directly or through pledge o f the entire Issues o f bonds o f
the companies owning the same) on terminal property In St. Paul and
Minneapolis, new equipment and shops at Moline, 111., and on rail
way lines aggregating 1,148 miles; also a junlor IIen bJert to existing
on all the other lines o f the system
the
com pany, ag
CHICAGO PEORIA & ST. LOUIS RY.— R O A D .— Owns from Pekin to mortgages
gregating, exclusive of leased lines and trackage 5.649 miles. See V . 78.
Granite C ity, 111., 180 miles; Granite City to Madison. 2 miles; Madison to p. 228. 234; V . 79, p . 1716, 2206; V . 84, p . 219, V . 85, p . 08, V . 85, p. 1478.
Bridge J et., 3 m .; Havana to Jacksonville, 111., 42 m .; branch, Lockhaven
to G rafton, 8 m .; total ow n ed, 235 m .; trackage. Pekin to Peoria, 10 m .; Issuable forthwith (com pare remarks b e l o w ) . . . $15, 000, 000
Issued or Issuable to an amount equal to the value o f bonds so
in Springfield 1H m .: to St. L ou is Station. 9 m .; total, 255 4* miles
Issued, to acquire property. Including stocks and bonds
25,000.000
Reorganization o f Chicago P . & St. L. R R . o f 111. and St. L. Chic. & St.
Paul R y . o f Illinois sold in foreclosure Jan. 8 1900 per plan In V . 68, p . 722. Reserved to retire at or before m aturity all boiids o f the ralheay
system falling due within the next 30 years (none o f such
Stock, com m on, $3,600,000; p ref., $3,750,000.
underlying bonds to be exten d ed ), also to acquire $25,000,000
On July 1 1909 Pres. John P. Ram sey and Henry M. Merrlam of Spring
general 4s o f 1898 Issuable for Im provem ents, viz.
field, III., were appointed receivers, the January and July 1909 coupons
on the consols being In default. V. 89, p. -11. The coupons on the consols
B o n d s to B e T a k e n U p —
. „
from July 1906 to July 1908 were paid In the six months thereafter.
Chicago R ock Island & Pacific R y . Ren. m tge. 4s
B o n d h o ld e rs ' C o m m itt e e . — In July 1909 a com m ittee consisting of George
hereafter to be Issued, v iz.:
. . . Knn . . .
F. Baker Jr., Charles H . Warren and Alfred Shepherd (W . W . Stevenson,
(a) T o retire at m aturity 1st 6s o f 1 9 1 7 -----------$12,500,000
34 Nassau .St., Secretary; Bankers’ Trust C o., N. Y .. depositary), requested
(b) At not exceeding $1,000,000 per year for addeposits of consols with a view to preparing a reorganization plan. V .89, p.41.
dltlons and Im provem ents...................................... 25,000,000
The coupons on the consols from July 1906 to July 1906 were paid In the
Burlington Cedar Rapids & Northern R y . Co. cons
Blx months thereafter.
5s. Issued or hereafter to be Issued to retire.
E A R N IN G S .— 11 m os.,11908-09........... Gross, $1,452,263; net, $176,546
fa) B. C. R & N R y . 1st m tge. 5s o f 1906-----6.,>00,000
July 1 to May 31.
J1907-08...........Gross, 1,373,148; net, 118,185
(b) C cd .R a p . Ia. Falls & N . 1st m tge. 5s o f 1921. 1,005,000
R E P O R T for year to June 30 1908 was In V . 87, p. 1415, showing, gross. Choctaw Oklahoma & Gulf R R . consol. 5s. here
$1,477,981: net over taxes, $81,008; other Income, $28,321; Interest and
after to be Issued to retire $5,500,000 C. O. « G.
rentals, $213,461: bal., d ef., $104,132. Pres, and Gen. Mgr.. John P
R R . general m tge. 5s o f 1919-----------------------------5.500 000
R am sey, St. Louis, Mo.: S ec., Asst. Treas and A u d .. H W . Berger,
Chicago
R ock Island & Pac. R y. gold 4s o f 1902
Springfield, 111.; Treas. and A sst. Seo., C .M .G leason,N .Y .— (V . 8 ) , p. 41.)
(Choctaw Oklahoma & Gulf stock co lla te r a l).. 22,410,000
CHICAGO ROCK ISLAND & PACIFIC RAI LROAD.— Incorporated In 6 % notes o f D . R . Francis, & c., paid Jan. 1 1 9 0 5 .. 4,o00 000
Iowa on July 31 1902 as an operating com p a n y, per plan V . 75, p 239 to
R ock Island & Peo. R y . Co. consol. M. 6s o f 1 9 2 5 ..
450,000
take over the Chic. R I. & Pac. R a ilw a y
the entire capital stock Choc. Okla & Gulf R R . equip, tm st certifica tes.. 2,360,000
($145,000 000) Is owned by The R ock Island (holding) Company.
”
$82,025,000
Reserved to provide 75 % o f purchase price o f securities of
B O N D S .— The collateral trust 4s o f 2 0 0 2 (authorized Issue $75,000,000)
other companies hereafter acquired---------------------------- -------- 13,500,000
are secured by a pledge with the trustee o f an equal am ount o f the stock of
The C. Ft. I. .% p. R a ilw a y as acquired. In June 1908 $70,199.0)0 of the Reserved to be Issued at not over $2,500,000 yearly from Jan. 1
1904 for future Improvements and equipm ent--------------------- 27,475,000
$74 859.600 R a ilw a y stock had been acquired. In 1908 $17,364,180 o f an
Ju
ly
, 1909.
R A IL W A Y
R A IL R O A D S
Miles
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , A c . , s e e n o te s
o n f i r s t p a g e o f ta b les
C hicago. R ock Island & Pacific— (Concluded)
'-'vvicvi nupma x r u
vv mav migc
£uai ..uc.<
B C R & N or consol first m ortgage g o !d --C e .c* A
Minneapolis A St Louis 1st M gold (a ssu m ed )..I
R ock Isl Ark & Louis 1st M $ 15,000 000 g old ------ Ba
R ock Island-’ Frlsco Term 1st M g guar Jointly___c*
Peoria R y Term 1st m tge gold guar Jointly r e d .. 1C
Roulp notes due $325,000 seml-an (V .8 4 , p.338) Ba
do ser B . due $00,000 s a
Chic & R 1 Elev M g guar p A 1 redeem at par------ c*
Consol Ind Coal 1st M g lnt gu red 110 s f . . . a c*A r
Chicago St Louis & New Orleans— See Illinois Central
Chicago St Paul Minn & Omaha— Common stock-----Preferred stock non-cum Including scrip (see t e x t ).
Ch St P & Minn 1st M gold Elroy to L St C ass’d - .c *
St P A Sioux City 1st M gold $10,000 per m ile . -Ce c
N or Wls 1st M L a k e St C to near Spooner ass’d .Ce.c*
Sault Ste Marie & Southwestern first M a ssu m ed ..c
C S t P M A O m tge $30,000,000 ($15,000 p m ).C e c*
do
do
consols Interest reduced-----Chicago Southern— See Southern Indiana
Chicago Subway— III T 1st M $30,000,000 g red 1 0 5 ..
First lien mtge gold red 105 (see text)----- Usm.c*Ar
Chicago D ock M assumed red 105 (V 68 p 333)____
Notes secured b y 2d M Chic D o c k -------------------------Chicago Term Tran RR— Ch A Gt W 1st M g a s s ’d - . c *
City of Chicago purchase m oney m ortgage assumed
R eceiver’s certificates $3,500,000 authorized g o l d ..
C h lc T c r T r 1st M $15,140 000 paid by BA O Oct ’07
of
R oad
STO C K S
D a te
of
B onds
S iz e , or
Par
V a lu e
1898 $1,000 Ac $61,581,000
1002
1,000 13.446 000
1904 1.000 Ac 78.428,000
1.000
1,905 000
1881
1884 1,000 Ac 11,000,000
1877
500
150,000
1885
5,000
450,000
1894
1,000
5,500,000
1,000
1809
3,525,000
1,000
1899
255.000
1,000
5,411,000
335 1902
1902
1,000
220,000
See text
308 1906
1907
1,000
3,000.000
n
1,000
1907
030,000
1 000 4,875,000
1907
1,000
480,000
1904
1,000
850.000
1,000
2,500,000
- - - 1905
2.393
____
177
607
80
37
...
60
___
___
91
1878
1879
1880
1890
1880
1880
39
BONDS.
IN T E R E S T OR D IV ID E N D S
A m ount
O u ts ta n d in g
Text
292
999
12
113
378
282
R a te
%
W h en
P a y a b le
4g J
M
4g
A
4g
5g A
A
0g
7g J
6
J
5g J
5g J
6 g .r
M
5g
4H g A
5 g
.1
5g J
4g J
4*4 F
6
A
A
5g
5g J
W h ere P a y a b le, an d by
W hom
1903
1008
1899
1.000
1,000 Ac
1886
1,000
1907
1897
1,000
In c. or
Y e a r e n d in g J u n e . 3 0 —
1907-08.
1906-07.
D ec.
Average m iles_______________________
7,970
7,780
+ 19 0
T otal operating revenue------------------- $58,484,197 $60,138,673 — $1,654,476
Operating Income (after tax es)------ $14,365,554 $17,649,812 — $3,284,258
Total net Incom e................................... 14,086.755 18,263,421 — 3,576,666
Interest and rentals......... ...................
9,958,454
9,475,228
+483,220
Betterments on leased lines...............
10,200
37,677
— 27,477
D iv id en d s...................................... (5*4)3.029,785 (5 *4)4 ,116,728
— 186,943
Balance, surplus..........................
$788,317
$4,633,789 — $3,845,472
1906-07.
1005-06.
1904-05.
1003-04.
Miles operated................
7,780
7,218
7,232
7,205
Gross e a rn in g s................. $60,238,420 $51,237,858 $44,051,509 $44,969,401
Total Incom e...................... $19,939,460 $17,186,637 $14,519,472 $14,528,431
Taxes ...........................
$1,076,038 $1,631,890 $1,609,989 $1,437,578
O F F IC E R S .— Chairman of Board, D . G. Reid; Chairman of Executive
Committee, B. F. Yoakum ; President, B. L. WInchell; Vice-President, R .A .
Jackson; Asst. Sec. and Asst. Treas., Geo. T. Boggs; 2d V lce-Pres., H. U.
Mudge; 3d V lce-Pres.. W . B. Biddle; 4th V lce-Pres., C. W . Hillard; 5th
V lce-Pres., E . L. Pollock; Sec. and Treas., George H . Crosbv. New York
office. 115 B roadway.— (V. 87. p. 1419, 1478; V . 88. d . 623. 822.)
CHICAQO ST. PA U L M INNEAPOLIS & OMAHA R Y . — (S e e M a p C h i
ca g o & N o r th W e s t e r n .)— R O A D .— Elroy, W ls., to Omaha, N eb., 593 miles;
other lines, 1,156 m .: total July 1 1908, 1,729 miles, of which 1,660 arc
owned and 69 miles leased. V. 69. p. 1147.
H IS T O R Y .— This was a consolidation July 1880 of the Chicago St. Paul
A Minneapolis, the North Wisconsin and the St. Paul A Sioux City.
In Novem ber 1883 Chicago A North Western R y . purchased control,
viz., $9,320,000 com m on and $5,380,000 preferred.
ST O C K .— Authorized com m on. $21,403,293; preferred, $12,646,833.
Held b y the com pany June 30 1908, com m on stock and scrip, $2,844,207;
preferred stock and scrip, $1,386,921. Preferred stock has a prior right
to non-cum . dividend of 7 % , but com . Is never to receive more than Dref.
D IV S .— 1 '93-'96. '97. ’98.. 99. '00. '01. ’02. '03. '04. '05-’ 08.
1909.
Com. . _ % f None.
2
2
3*4 5
5
8
6
0 7 y ’ly.
7
Pref
|------------------7 per annum (3*4 F . A A .)— ------------------------— —
B O N D S .— There arc $1,500,000 Superior Short Line R y . bonds which
are owned. Chicago S t. Paul A Minneapolis first 6s, due 1918, and North
Wisconsin first 6s, due 1930, are exchangeable at option of holder at any
time. $ for $, for con sol. 6s of 1880, due 1930. V . 08. p. 521; V . 77. p. 2389.
E A R N IN G S.— 11 m os.,1 1 9 0 8 -0 9 --.Gross, $12,380,912; net, $4,371,776
July 1 to May 31.
|1907-08---Gross, 11,933,419; net, 4,025,735
In 1908-09, taxes, $582,857; other Income, $8,468; charges, $1,664,982;
bal., sur., $2,132,405. Dividends for y e a r , 7 % on each class of stock,
call for 52,080,910, leaving $45,495.
R E P O R T .— Yearends June 30. R eport for 1007-08, V . 87, p. 860.
1907-08.
1006-07.
I n c . o r D ec.
Total operating revenue.................... $12,865,694 $13,028,187 — $1,062,493
Opor. expenses and taxes....... ............
9,173,235
9,630,032
— 45 6,7 9 7
See text
See text
665,000
333,750
394,000
650,000
150 000
See text
5
5
4
4
5
5
6
4
B on d s— P r in c i
p a l, W h en D u t
S to c k s —rL a s t
D iv i d e n d
&
J First Nat. Bank. N. Y . Jan 1 1988
a N
May 1910-1918
do
do
A pr 1 1934
& O
do
do
A O First National Bank N Y Oct 1 1921
& 0
Apr 1 1934
do
do
& D
do
do
June 1 1927
July 1 1925
&
J
do
do
& J
do
do
Oct 1 1919
& J
Jan 1 1949
& J
July 1 1019
& N
May 1 1952
& O
do
do
Apr 11910
&
J
Jan 1 1956
A J New York and St Louis Jan 1 1927
A J New York
Jan 1 1937
A A First National Bank N Y Feb ’ 10-Feb *17
A O
Oct ’09-A pr '13
A O First Tr A Sav IBank Chic Oct 1 1924
A D Guaranty Trust Co N Y June 1 1935
100 18,559.086 7 In 1909 F A A Office 111 B'way N Y
100 11.259.911 7 In 1909 F A A
do
do
500 Ac
1.326,000
M A N
do
do
0g
1,000
6,070,000
A & O
6g
1.000
631,000
6
.1 A J
do
do
1,000
350.000
5
M A N
do
do
1,000 16.363,000
6
do
do
J A D
1,000
3,734,000
do
do
3 *4 J A D
CHICAQO ROCK ISLAN D & PACIFIC R Y . (C oncluded).
Of the $78,428,000 ref. 4s dated 1904 Issued or Issuable M ch. 1900, $25.
610,000 were Issued for refunding purposes, $15,000,000 to reimburse treas
ury, $22,818,000 for acquisition of property or securities and $15,000,000
for Improvements. Of the remaining $88,058,000 bonds authorized,
$57,401,000 were reserved for underlying bonds, $13,500,000 to pay for 75%
of the purchase price of bonds o f other com panies, and the balance for Im
provements and acquisitions o f other properties or securities. In Oct. 1908
$9,000,000 was sold, and In Mch. 1909 $3,486,000, making $78,428,000 out
standing as above. V . 87, p. 1089, 1419; V . 88, p.623, 822. Peoria R y.
Term , first 4s ($1,500,000 auth. Issue), guaranteed Jointly with Chicago A
Alton, are subject to call at 102 M after 10 years. V . 85, p. 159.
As to Chic. R . I. A Pac. Elevator m tge., see V . 70, p. 2590; V . 82, p. 750.
As to Consol. Indiana Coal 5s, Interest guar., see V . 80, p. 2401, 2623;
form of guaranty, V . 82, p. 1499. R ock Island-Frlsco Terminal R y . 5s,
guaranteed Jointly, V . 84, p. 569, 748.
The $6,000,000 o f 4 H % notes Issued In 1908 were paid off Apr. 1 1909.
T hey were secured b y deposit of $9,000,000 Rock Island Ark. & La. 1st 5s,
a lien on 308 miles of road extending from Little R ock, A rk., t c Crossett,
and Summerville, A rk., to Eunice, Ala., and equipment.
L A T E S T E A R N IN G S .— J 1 9 0 8 -0 9 ..Gross, $55,741,416; net,|$14,619,847
11 m os., July 1 to May 31.11907-08..G ross, 54,286,918; net, 13,235,752
For 7 m os. ending Jan. 31 1909, net over taxes, $9,125,917, against $8.
948,458 In 1007-08; other Income, $573,387; lnt. and rentals, $6,078,951;
d lv. for 0 m os., 2 > A % . $2,058,581; bal.. sur., $1,561,772. V . 88, p. 822.
O ld B a s i s —
A N D
Aug 20 1909 3 H
A ug 20 1909 3 X
May 1 1918
A pr 1 1919
Jan 1 1930
Nov 1 1915
June 1 1930
A D June 1908 coup last nald D ec 1 1928
A D U S Mtge A Tr Co. N Y
A O Northern Tr Co Chicago 1929
g
g
g
.T
g
J
A D Mercantile Trust Co N Y
V To City of Chicago
May 1 1938
g
j
A
J
A
.J
&
J
M A*
J See text
and between business houses. It Is still engaged In developing and extend
ing the system. See V . 86, p. 720; V 87. p 1357.
The authorized stock of the Chicago Subway Co. Is $50 000,000, of which
$5,000,000 remains In the treasury unissued; par value of shares $100.
In April 1908 It was arranged to exchange per plan V. 86. p. 1284, 1467,
the outstanding $17,000,000 Illinois Tunnel 5% bonds for Chicago Subway
20-vear 5% first lien bonds secured b y denoslt of the Tunnel bonds, the
stock o f the Tunnel Co. and b y other property, Including the subway com
pany’s Interest In the stock of the Chicago Warehouse & Terminal Co. The
Issue c f the collateral trust bonds will be unlimited. A dditional bonds
m ay be Issued bearing a lower rate o f Interest and maturing later than
June 1 1028. Of the bonds, an amount m ay be applied to replace $13,000.
000 Illinois Tunnel bonds as security for $9,500,000 floating debt of Tunnel
Co. V . 86, p. 794. In July 1909 $15,842,000 first lien bonds had been
Issued in exchange for Illinois Tunnel bonds. V . 87, p . 166; V . 88, p. 100.
Chicago office, 1779 Monroe St.
CHICAQO TERMINAL TRANSFER RR.— P R O P E R T Y consists of
passenger and freight terminals In city of Chicago, lines of railway leading
thereto, and a belt line around the city. Company owns 760 acres of land
In and adjacent to the city, of which 50 acres are In the centre of the business
district; also Includes 7,500 feet of dock property on Chicago R iver. Nearly
all land, Including that upon which tracks have been built, Is owned In fee.
Track owned, 84 m .; leases from Chicago Junction R y . 11 m .; trackage, 7 m .;
total, 101 m .; 2d track, 62 m .; sidings, 116 m .; total all tracks, 281 miles.
H IS T O R Y .— A reorganization In June 1897 of Chicago & Northern Pacific
and Chicago A Calumet Terminal, plan V . 64. p. 888, 898.
On April 16 1907 the lower court granted the petition of the Balt. A Ohio
for permission to pay off the $15,140,000 first m ortgage bonds.w hich were
called for payment on May 3 1907. the holders to receive the am ount found
to be due under the decree with Interest from the date of the latter (Feb. 20
1907) to May 3. The foreclosure sale, which had been set for Mav 3 1907,
was enjoined to enable stockholders to test validity of B. & O. lease. V . 84.
p. 930, 867, 1182; V. 85, p. 921; V. 86. p. 479; V . 87, p. 1010; V. 88, p. 1127.
In Feb. 1909 the m inority stockholders’ com m ittee (Geo. I. Malcolm,
Chairman; H . S. M ott, Sec.) had sold $8,019,100 preferred stock repre
sented b y It to a purchaser, supposed to be the B. A O. The com m ittee
will continue for the present to represent about $2,500,000 com m on stock.
V . 84, p. 867; V . 85, p. 405, 1209; V . 86, p. 52, 107, 479; V . 87, p. 1010,
1419, 1663; V . 88. p. 230.
On Mav 14 1906 $3,500,000 of receivers’ gold certificates were authorized
to provide for elevation o f tracks; $150,000 outstanding July 1908. T hey are
to be a lien prior to m tge. of 1897 and payable on dem and. V . 82, p. 1155.
T E N A N T S .— Balt. & Ohio, Chicago Great W estern, Chicago Junction.
Pere Marquette (the last named since Dec. 1903). See V . 77, p. 948, 2158,
V . 79, p. 901. Minimum rentals receivable from tenants am ount to $513,
500 annually. Sec V . 79. p. 2084.
S E C U R IT IE S .— S t o c k . — $13,000,000 com . and $17,000,000 4 % noncum . pref. Of the $16,500,000 50-year 1st 4s, $1,305,000 are reserved to
retire assumed bonds and $55,000 in the treasury. V . 79, p. 901. See above
R E P O R T .— Report for year ending June 30 1908, given In V . 88, p. 501,
shows, gross, $1,819,946; net, after deducting oper. expenses and taxes,
$527,196; Interest, $669,796; bal., d ef., $142,600.
Receiver, Pres, and Gen. Mgr., J. N. Falthorn, Chicago, 111.; Sec. and
Asst. Treas., W . T . W lsner 2d, 28 Nassau S t., N. Y . Directors, O ct. 1908,
V . 86, p. 479; V . 87, p . 1010.— (V . 88, p. 100, 230, 501, 1127.)
CHICAQO & WESTERN INDIANA R R .— Owns a valuable terminal
system of roads affording entrance Into Chicago to the roads named below.
Its lines extend from Dearborn Station, Polk S t., Chicago, to D olton. 17 m .;
also to Indiana State line, 10 m ., to Cragin, 16 m ., and to South Chicago, 5
m .; total, 48 m .; total track, Including 2d, 3d, 4th tracks and sidings, 260
m .; also owns over 1,200 acres of real estate, passenger and freight yards,
warehouses, elevators, A c. The Belt R y . of Chicago leases and operates
116 miles of the 300 miles owned b y the Ch. A W . I .. Its securities being all
held by the companies leasing the Chicago & W. I.: see V . 60, p. 1058.
Proposed passenger station, V. 89, p. 162.
L E A S E S.— This com pany's road and terminals are leased under per
petual contracts to the W abasn, the Grand Trunk W est., the Chicago A
Eastern Illinois, the Chicago A Erie and the Chicago Indianapolis & Louis
ville, each of which five companies owns $1,000,000 stock. T hey are also
leased to the Atchison, the Elgin Joliet & Eastern and Belt R y . Annual
rental must always exceed at least 20% lnt. on bonds outst. V . 78. p. 819.
DIVIDENDS.—
1’ 95.
Per cent-.................................. J7*4
'96.
6
*97.
6
'98.
6
'99.
6
'00 to June*09.
6 yearly.
B O N D S.— The general mortgage bonds are drawn at 105 and Interest In
such annual amounts as will retire the debt b y maturity.
Of the consol. 4s of 1902 (auth. Issue $50,000,000), $26,382,000 has been
N et operating I n c o m e .................... $3,092,459 $4,298,155
— $6 >5,690 sold on account of track elevation and other lm pr'ts, $6,287,000 additional
Total net Incom e...............
$3,855,052 $4,524,620
— $669,577 were used to refund bonds canceled b y operation of the sinking fund, $8,
Interest on b o n d s-............................... $1,570,047 $1,558,541
+$20,506
081 667 are reserved to retire underlying bonds and $9,249,000 for future
N etrentals.........................................
154,981
107,956
+ 4 7 025 additions equal to at least the par value o f the bonds Issued. The Item of
Outside oper. and other d eductions.
15,970
14,899
+ 1 071$26,382,000 Includes $12,271,000 sold In Dec. 1908, part of which was
Dividend on com m on stock ( 7 % ) . .
1,298,934 1,298,916
+ $18
used to retire the $8,000,000 collateral trust notes called for paym ent
Dividend on preferred stock ( 7 % ) . .
787,976
787,076
................
Feb. 1 1909. V . 75, n. 732, 906; V . 84, p. 1427; V . 86. p . 1225: V . 87,
p. 36, 1604, 1 6 6 3 :V . 88, p. 100, 374.
Net surplus for year.........................
$18,144
$756,341
— $738,107
AN N U AL R E P O R T .— Fiscal year ends Dec. 31. Report for 1908 was In
O ld B a s i s —
1006-07.
1005-06.
1004-05.
V . 88, p. 1614, showing gross Income, $2,310,389; lnt., A c., $1,986,634;
Gross earnings...........................- .......... $14,035,309 $12,943,750 $11,926,000
dlvs., $300,000; bal., $23,755. Pres., W m . J. H enley.— (V . 89, p. 162.)
Net earnings (after tax es)....................
4,422.316
4.632,806
4,249.472
CHIHUAHUA & PACIFIC RR.— Chihuahua, M ex., to Mlnaca, 125 miles:
— (V . 86, p . 668, 704, 1520; V . 87. p. 285, 869; V. 89, p. 162.)
El Carplo Jet. to Tem osachlc, M ex., 55 miles. See Kansas City M exico A
CHICAQO SOUTHERN R Y .— See Southern Indiana R y.
Orient statement and V . 71, p. 181. Stock Is $2,860,000; par of shares,
CHICAQO SU B W AY CO . — (S e e M a p . ) — Incorporated in New Jersey $100. Bonds, see table above. In M ch. 1909 the M exico Northwestern
N ov. 21 1904 and holds over 09 *4 % of the $30,000,000 authorized and o u t R y . acquired the stock and bonds. V . 88, p. 748.— (V . 88, p. 748.)
standing stock of the Illinois Tunnel Co. and of the stocks of the Illinois
CINCINNATI BLUFFTON & CHICAQO RR — R oad is projected
Telephone Construction Co. and the Chicago Warehouse A Terminal Co.
from Huntington to Union City, In d .. 75 m ., of which Bluffton to H unting
The Illinois Tunnel Co. had com pleted, Oct. 1908. 60 miles of tunnel ton, 52 miles, com pleted. V . 84, p . 1182. On March 14 1908 John C.
equipped with narrow-gauge electric m otors and cars, designed for the Curtis was appointed receiver. V . 86, p. 720. The Sept. 1908 coupon was
transfer of freight between the various railroad terminals In the City of Cbi- not paid when due. Receiver’s certs. May 1909, $125,722 6s, due In 4 m os.
oago, and from these terminals to and from the downtown business district to 2 y ea rs'tim e. V . 88, p. 1313. Bondholders’ com m ittee, V . 87. p. 873.
R A IL W A Y
40
STO C K S
A N D
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n lle a d in g s , A c . , s e e n o te s
,
o n f i r s t p a g e o f ta b les
C hicago & W estern Indiana— Stock (see text)
General m ortgage gold sink fund subj to call 1 05 .c+
Cons M $50,000,000 g ........................................IC.c*& r
Chicago & W est Michigan— See Pere Marquette R R
Chicago W isconsin & Minnesota— See W isconsin Cent
Chihuahua & Pacific— First M gold — . . . . . . . . . .M a
C hoctaw & M em phis— See Chic R ock Island & P acR y
C hoctaw Okla & Quif R R — See Chic R ock I ft Pac R y
Cincinnati Bluff ton & Chicago— 1st M $1.500,000 g .c *
Cincinnati Dayton & Ironton— See Clncln Ham & Day
Cincinnati Find & Ft W — 1st M g guar end r e d -.N c*
Cincinnati Hamilton & Dayton— Common stock .........
R eceiver’s certificates---------------------------------------------Second (now flrst) m ortgage gold _____ ___________c*
General m ortgage $7,800,000 gold .................... Me c*
Cincinnati D ayton & Chicago flrst m ortgage_______
Cln D ay & Ironton 1st M g guar (assumed) — Ce.c*
R efund ingnitge, $14 286,000 gold .......... Usm c*ftr
Consol m ortgage $50,000,000 authorized________Ce
Gold collateral notes_____________________________ Ce
Coll tr pur m oney notes g red par...................... Cexc
Car trusts gold $54,000 due s-a begin Oct ’0 6 . . Ce.c
Car trusts $92,000 due sem i-annually..........................
Dayton & Michigan first m ortgage guar p ft I end . ,c
[VOL. LXXXIX
BONDS,
M ile s
of
R oad
D a te
of
B onds
S iz e , o r
Par
V a lu e
A m oun t
O u ts ta n d in g
$100 $5,000,000
7,992,667
1,000
l.OOO&o 32.669,000
48
1882
1902
180
1905
1,000
1003
1,000
1903
1,000
100
91
59
59
95
167
1906
1887
1892
1892
1891
1904
1905
1905
1908
1905
1904
1881
1,000
1,000
1,000
1,000
1,000 &c
1,000
1 000
1,000
1,000
1 000
N e w S e c u r itie s to B e I s s u e d o r N o te s to B e G u a r . b y B .& O .
First & ref M $75,000,000 authorized, part guar___
6
5e
W h en
P a y a b le
W here P a y a b le, an d by
W hom
J
2.389.000
6 g
J
&
As collat.
6 g
M
&
M &
1.150.000
4 g
T ext
8,000.000 See text
6
929,431
4 tf g J &
2,000,000
J &
3.000.
0005 g
A &
4
1.200.000
3.500.000
5 B M ft
J
&
See text
4 g
See below
4W g J &
15.000.
000
g M &
.1 &
See text
4 g
756.000
4« g A &
1.012.000
4>S g A &
5
J
&
2.728.000
J Office 80 Broadway, N Y Jan 1 1955
S Sept ’ 08 coupon not paid Sept 1 1933
N N ov 1908 coup not paid N ov 1 1923
Dec 24 1903 2 %
Cincinnati
V arlo is
J July ’09 coup pd wh due Jan 1 1937
D Deo '08 coup p d M c h ’09 June 1 1942
O Oct 1908 coupon not paid Apr 1 1942
N May 1908 coup last paid May 1 1941
See text
J See text
J July ’06 coupon not paid Jan 1 1955
S Mch ’ 06 coupon not paid Sept 1 1908
July 1 1913
J See text
O J P Morgan & Co N Y To A pr 11916
O R W lnthrop & Co N Y Oct ’09 Oct ’ 14
J J P Morgan & Co N Y Jan 1 1911
July 1 1959
July 1 1939
July 1 1913
J & J
4
000 text See text
See
J & J
4 g
J & J
J & J
J & J
J* F & A
5
J & J
M ft N
4 e
F & A
4 g
5 000
In 1908 J & D
5 In 1908 O— M
a n d '$2,5 00,000 fo
5 g
5 B
B on d s— P r in c i
p a l , W h en D u e
S to c k s — L a s t
D iv i d e n d
Q— M 31 Chicago
June 30 1909 1 H
Q— M J P Morgan & Co N Y Dec 1 1932
&
J 111 T r & S B k, Chic; & N Y July 1 1952
4 g
14.500.000
All 1909
20.000.
All 1909
General m ortgage $20,000,000 redeemable te x t-----1,000 11.557.000
1908
Coll tr pur m notes $11,557,000 g gu p&l redparCe.xc
Clncin & Ind Western— See Chicago Clncln ft Loulsv
2.229.000
1,000
Cincin Ind & W est— Ind Dec ftfn ot gu aran teed..C e | 262 (1805
933.000
1,000
[1895
W 1st M gold red at 1 1 0 .. (guar p & l (en d )— c
4 672 000
1,000
381 1902
C I & W 1st & ref M $8,200,000 g gu p & 1 e n d -.T a
762,100
100
Cincinnati Inter-Terminal R R — 1st pref stk (see text) T ext
200.000
1,000
38 1886
Cincinnati Lebanon & Northern— First m o r t g a g e ...c
1.268.000
52 1902
1,000
1st con M $1,500 000 g gu p & 1 end (V 75 p 1398) .c*
1,750.000
1,000
148 1898
Cin & Musk Val— 1st M $2 000.000 g gu p & 1 end F.c*
3.000.
100
Cin New Orl & Texas Pac— Com stock $3,000,000 -----2.500 000
100
Preferred stock 5 % cumulative $3,000,000...............
7 ~ a Of the $17,500,000 Issued. $15,000,000pledged un der col lateral 4 H % no tes of 1908
S tock, $1,125,000, all o f one class, IssuaDle $15,000 per mile; par o f
shares, $100 each.
Bonds, see table above. V. 84, p. 449.509. For year
ending Juno 30 1908, gross, $87,795: net over taxes ($5,200), $48,322: no
Interest paid on bonds. Calendar year 1907, gross, $81,614; net, $45,564:
int.and taxes, $32,300; bal., sur., $13,284. For year ending Dec. 31 1906,
$30,637; net, $7,463: oth. Inc., $3,748; int. and taxes, $12,958; bal.,
Sross,
ef., $1,747. Pres., S. H . Bracey; Sec., Charles Blackburn; Treas,, William
George. Office, 1606 Tribune B ldg., Chicago, 111.— (V . 88, p. 1313.)
CINCINNATI F IN D LA Y & FORT W AYN E R Y — Owns Findlay, O ., to
F t. W ayne, I n d ., 80 m ; also connecting link with the Cln. Ham . & D. from
Delphos to Mandate, 12 m ., com pleted Oct 15 1904. V . 77, p. 88, 694.
Leased to Cln. H am . & D . for 99 years from N ov. 1 1903, with privilege o f
renewal for like periods forever. V. 78, p 286. Stock, $1,250,000, all
owned by the Cln Ham . & D .. which guarantees bonds, prln. and Interest.
Mtgo. Is limited b y special agreement to $1,150,000, or about $12,500 per
mile. Bonds are subject to call at 102 H and Interest. V . 78. p. 286, 342,
701. Form of guaranty, V . 78, p . 701. Default having been made In the
pavm ent of the N ov. 1908 coupons, m ajority of bonds deposited with a
com m ittee, Albert H . W ggln, Chairman (F. N . B. Close, 7 Wall S t., N. Y .,
Sec.; Bankers’ Trust C o., N . Y\. depositary). V . 88, p. 230.— (V.88,p.230.)
CIN. GEORGETOW N & PORTS. R R .— See ‘ ‘ E lectricR ailw ay S ection .”
CINCINNATI HAMILTON & DAYTON R Y — The system Includes;
P r o p r i e ta r y ro a d s —
Miles.
Road o w n e d —
M ile s .
Cincinnati to D ayton , O ..................... 59Cincinnati Ind. & W estern____ *361
13
D ayton to Ironton, O ___________ 167 Cincinnati & D a y ton . __________
D ayton to Delphos, 0 ..................
95 Columbus Findlay & N orth e rn .. 18
19
62 Bowling Green R R _____________
T ra ck a g e...............
Plqua & T roy Branch..................
8
R o a d s lea se d — ( * S e e t h l s C o .)
D ayton ft M ichigan--------------------*142
Clncln. Find. & Ft. W ayne . . . *91
H om e A ve. R R ....... ...........
3
—-------Total of all__________________ 1,038
Owns control o f the Pere Marquette R R .; also owns Dayton & Union
Jointly with Clev. Cln. Chic. ft St. L. and Jointly with Southern R y . controls
Cln. New Orl. & T ex. Pac. R y . V . 75. p. 978.
C O N TRO L, &c.— July 20 1909 the receiver was discharged, but property
will remain subject to order of court pending litigation on claims. V .
R a te
%
Ian 1908 coup last paid
do
do
do
do
Cincinnati
Central Tr & S D Co Cln
Farmers’ L & Tr Co N Y
Farmers’ L ft T r Co N Y
Cincinnati
do
r demand notes aggregatl
Jan 1 1935
Jan 1 1935
Jan 1 1953
A ug 1 1909 2 %
Jan 2 1916
N ov 1 1942
Aug 1 1048
June23 1 9092H
June 1 1909 1 H
ng $1,762,670
In consideration o f the undertakings o f the B . & O ., the original bonds
to be issued under the gen. mtge. are to be subject to call on any July 1
prior to July 1 1916, for exchange for new 4 % bonds secured b y the gen.
mtge. and guar, b y the B. & O. as to prln. and Int. The original bonds are
also to be subject to call for paym ent at par and accrued Int. and the 4 /0
guar, bonds at 103 and accrued Int. on any Jan. 1 or J uly 1.
In July 1909 a m ajority of the creditors had approved the plan and the
stockholders are to vote thereon on Aug. 10 1909. V . 89, p . 1 0 2 .
G U A R A N T IE S .— Guarantees securities o f Cln. Ind. & W est., Dayton ft
Mich, and Cln. Find. & Ft. W ayne; also $933 000 Ind. Dec. & W est. 5s a n d
$6 ,0 0 0 , 0 0 0 Pere Marquette refunding 4s.
E A R N I N G S — 11 m o s .,(1 9 0 8 -0 9 ...G r o s s , $7,254,620; net, $1,363,431
July 1 to May 31. \ 1907-08— Gross
7,350.727; net,
877,620
REPORT.— Report for year ending June 30 1907 In V. 85, p 1003.
Y e a r e n d i n g J u n e 30—
1007-08.
1006-07.
Miles operated..........................................
1,038
1,038
Gross earnings.........................
$7,060,612
$9,048,858
1,145,954
1,987,275
Net in c o m e ...............................................
Deduct interest on b ond s..................... 2,217,216
2,220,615
Interest on bills p ayable......................
602,595/
261,345
\
366,669
R entals................ - ....................................
1005-06.
1.038
$8,510,153
1,607,718
2,240,434
117,247
388.669
Balance, deficit, for year....................... .$ 1 ,6 7 3 ,9 0 2
$861,354 $1,147,631
O F F IC E R S .— Pres., F. D. Underwood: T reas., F . M. Carter; S ec.,
Thos. J. W alsh: Asst. T reas., D. W . Blgoney; Asst. S ec., D avid Bosnian.
Directors— Geo W . Perkins, F. D. U nderw ood, Charles Steele, Geo. F .
Baker, Geo. W . Y oung, N . B. R eam , H . F . Shoemaker and Geo. F . B row
nell, New York; J. H . Clarke and R . R . R hodes, Cleveland, O .; J. L .
Cramer, Cincinnati, O.; N . Monsarrat, Columbus, O .; W . L. D echant,
Middletown, O .— (V . 88. p. 1436, 1498, 1619; V. 89, p. 102, 224.)
CINCINNATI INDIANAPOLIS & WESTERN R R — H am ilton, O .. to
Sprlnglleld, 111.. 284 miles; Sldell, 111., to West L iberty, 77 m iles; trackage.
West Liberty to Olney, 8 miles. A consolidation Sept. 1902. V . 75, p
2 3 9 ,2 8 9 ,4 9 7 ,7 3 2 . Stock authorized, $8,200,000; Issued, $7,115,800; all
owned by C. H. & D ., which received dividends thereon In 1902-03, $126,798;
In 1903-04, $167,322; In 1004-05, $156,005.
B o n d h o ld e r s ’ C o m m itt e e . — The July 1908 coupons on both Issues of bonds
being In default, a com m ittee (W m . A . Read. Chairman; Bankers’ Trust C o.
in 5July 1908 Interest on Cincinnati Indianapolis ft Western Issues was of N. Y ., depositary) requested deposits. V . 87, p. 37, 285, 1089; V . 88,
defaulted and In N ov. 1908 on Cln. Findlay ft F t. W ayne and Plqua ft
p . 451.
T roy Branch R R . V . 86. p. 36; V . 87, p . 1237.
BON DS.— The “ first and refunding” 4s o f 1902 ($8,200,000 authorized
The stockholders voted Oct. 8 1907 to cancel the lease o f the Pere Mar Issue)
arc guaranteed, principal and interest, b y C. II. ft D . by endorse
quette. V . 85. p. 653; V . 87. D. 1355.
, _
„„„„
ment.
V . 75, p. 1201, 1335; V . 77. p. 1290. Guaranty, V . 78, p. 2011.
R E A D JU STM E N T P L A N .— The plan Issued In June 1909 (V. 88, p.
The I. D . ft W . bonds are redeemable by lot at 110 at any tim e on eight
1436, 1498) b y the com m ittee for the 4 H % notes of 190o provides;
weeks’
notice: $933,000 are guaranteed by Cln. H am . & D ayton . Car
(1) The control o f the system shall be acquired b y the B. & O. R R . and
trusts Juno 1908, $88,000 4 % equipment notes, due semi-annually to N o v . 1
ample capital provided through securities to be guaranteed b y the B. ft o . ,
1911 Inclusive. Interest M & N .— (V . 87, p. 1089; V . 88, p. 451.)
and otherwise, to pay or secure all claims or Hens ranking ahead of the 4 H %
notes, for construction and developm ent purposes and for working capital;
CINCINNATI INTER-TERMINAL R R — Owns a road 6 miles In length
(2) the holders o f 4 Vi % notes ($15,000,000 issued) shall receive for each connecting the Chesapeake 6c Ohio bridge and the Cln. H am . 6c Dayton
,000
$1,000 note and Its coupons $60 In cash and $1,000 of new gen. mtge. bonds terminals. Controlled b y Chesapeake 6c Ohio R y . Comm on s to ck »
(total Issue $20,000,000), to draw Interest as follows: 4 K % dependent upon In $100 shares, Issued for purpose of control. There is authorized $ l,o o o .Income until July 1 1911; 1% Axed and 3 K % d ep en 'en t upon Income until 000 o f llrst preferred 4 % cumulative stock secured by m ortgage ro ine
Union
Savings
Bank
6c
Trust
Co.
of
Cincinnati,
as
trustee,
and
rentals
paid
July 1 1911; 3 % fixed and^l
dependent upon Income until July 1 1916;
by Chesapeake 6c Ohio and Louisville 6c Nashville, and jsubject to call on
thereafter 4 ' A % fixed;
any
Interest
day
after
Feb.
1
1915
at
105.
V
79.
P.
2
1
2
;
V
.
80.
p
.
1728,
(3) During July 1916 (or sooner, in’ ease o f earlier acquisition b y B. & io.
of the controlling stock) the B. ft O. will, upon demand, unless said gen. 2398, 2620. Rentals received to June 30 1907, $48,000; dividends paid,
mtge. bonds shall have been sooner redeemed, at Its option either (a) pay $38,390; bal.. sur. $9,610. Pres. Geo. W . Stevens.— CV. 80. D. 2620.)
85% In ca h and Interest for said bonds or (b) Issue In exchange therefor a
CINCINNATI LEBANON & NORTHERN RY.— Owns Cincinnati, O ., to
D odds, 38 m iles. Including 6 miles from Lebanon to D odds, leased to the
new 4% bond secured b y said gen. mtge. and guar. prin. and Int. by the
B . ft O .; the B. & O. to elect whether to make such purchase or exchange; Dayton Leb. 6c Cln. R R .; Middletown June, to MldcUctown, O , 14 miles
(form er Mid. & Cln. R R ., taken over Jan. 1 1903); total, 52 m ilts. Stock
(4) The B. ft O. m ay, pr or to July 1 1916, substitute for the new gen.
V ? e. L b nnoflnn;
m tge. bonds new bonds o f a like am ount, secured b y said gen. mtge. bearing authorized. $1,500,000; outstanding $ 1,100,000,
Co. V . 75, p. 980. Dividend o f 3 % paid In 1906. O f the 1H ,500£001first
4 % fixed Int.. and guar. p. and 1. b y the B. & O.
consolidated 4s o f 1902, guaranteed principal and Interest b y the Pennsyl
(5) There Is to be an auth. Issue o f $75,000,000 new ‘ ‘first and refunding”
4 % bonds, of which $ 1 3 , 0 0 0 , 0 0 0 are to be pledged to secure not exceeding vania C o m p a n y . $200,000 are reserved to ret'-fp the fls due 1616. V . 7 7 .
$11,557,000 o f the 4% purchase-m oney notes dated 1908 and due July 1 p. 86. Cal. year 1908, gross, $305,079: net, $46,390, oth . Inc., $37,477;
1913; these notes are to be guar, b y the B. & O ., whereupon the present charges, $73,449; sur., $10,418.— (V . 77, p. 86.)
ref. mtge. bonds (dated 1904, for which the purchase m oney notes of 1908
CINCINNATI & MUSKINGUM VALLEY
Pennsi/Ir a n l a R R .) — Owns Morrow, O ., to Trlnw ay, O ., 148 miles, hair Interest
were exchanged) are to be canceled.
Zanesville Terminal R R .. 5 miles. V . 77, p. 86.
,
(6) The plan contemplates the retirement of the $7,751,425 pref. stock
O f the bonds. $250,000 are reserved for future needs; sinking fund retires
(out o f $8,000,000 total) deposited under the 4 % notes of 1905).
The ownership of the controlling stock o f the com pany Is to be acquired yearly 1% o f those outstanding, If ofTered at par or less. The P enn
b y the B. & O. at the end o f 7 years from July 1 1909 at a price then to be sylvania C o m p a n y guarantees the bonds, principal and Interest. See
form of guaranty, V 76, p. 653. Stock, $ 2 ,0 0 0 ,000 , all owned Jan. 1 lOOfr
fixed b y arbitrators; during the 7 years, said controlling stock Is to be vested
by the Pitts. Cln. Chic, ft St. L. R y . Dividends: 1 9 0 0 ,6 % ; 1901 to 1906.
In three voting trustees, one to be President for time being of B. & o .
lncl., 2% yrly.; 1907 and 1908, 4 % . Penn. R R owns $1,318,000 of the $ 1 ,.
1. F i r s t a n d R e fu n d in g M o r tg a g e d a ted J u l y 1 1909, A u th . I s s u e , $75,000,000.
This mortgage Is to cover all the lines of railway of the com pany, all Its 750,000 bds. Car trusts, $67,200 3 K s, payable $22,400 yrly. to June 1912.
easehold rights, all stocks of subsidiary companies owning operated lines
Y r . e n d . D e c . 31—
G ross
N et In c.
In terest.
°lrfd e n d s
B a la n c e .
and all property acquired b y use o f said bonds or the proceeds thereof. 1908 ...........................$783,888 $205,719 $70,000 (4 % )?§ 0 ,0 0 0 $55,71»
The bonds secured are to be dated July 1 1909, to mature July 1 1959, to
1907
933,813 232,703
70,000 (4% )80,000
82,703
bear Interest at the rate of 4 % per annum, payable Jan. 1 and July 1.
Paym ents In addition to above in 1908 were $10,346 fo r additions, im
Of which there are presently to be issued $27,500,000, viz.;
provem
ents,
&c.
(against
$20,894
In
1907).
and
$19,55
iror
prln.
and
Int.
(a) To pay or a f Just indebtedness due and accrued-----------------$7,500,000
(0)
For Improvements now needed............. ................................
5,000,000 of car trusts and hire of equipm ent. &o.— (V . 82, p. 1494.)
CINCINNATI NEW ORLEANS & TEXAS PACIFIC R Y.— (See M a p o f
(c) F or necessary working capital..................................................... 2,000,000
S o u th e r n R y .)— Operates Cincinnati Soutnern R y ., owned by city o f Cln(d) F or collateral to $11,557,000 4 % purchase m oney notes of
clnnatl, Cincinnati to Chattanooga, T e n n ., 336 miles; trackage, 2 m iles, in
1908 ................................................ ................................................. 13,000,000
Jan. 1903 the entire stock o f the Harrlman & Northeastern R y ., 20 m iles,
Reserved for future use, $47,500,000, viz.:
was acquired, but road Is operated separately. V . 77, p. 1743.
(e)
For additions. Improvements and betterments...................... $23,714,000
In 1901 lease was extended 60 years to Oct 12 1966; rental until O ct. 12
(?) For refunding underlying bonds......................................- - - - - 23,786,000
1906 was modified beginning July 12 1902 to $ 1 ,0 5 0 , 0 0 0 yearly, the rem ain
The bonds specified above as (b ) and (c) and $5,500,000 o f those named
as (a) are to be guaranteed, prln. and Int., b y the Baltimore ft Ohio R R . Co. 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
2. G en er a l M o r tg a g e (s e e a b o v e) — T o ta l I s s u e , $20,000,000.
The fixed Interest on the general mortgage will be payable Jan. 1 and under renewal to be $1,050.000 yearly for flrst 20 years, then $1,100,000 for
July 1, and the Interest dependent on Income (non-cumulatlve) will be 20 years: thereafter $1,200,000. V. 7 3 , p. 722; V . 74, p. 1251. Pref. s to c k .
payable N ov. 1 yearly. Of the generals, $15,000,000 are issuable In e x 5% cu m ., has prior rights on dissolution, but no voting pow er. V . 74, p«.
change for the 4 f i % notes, the remaining $5,000,000 for floating debt, &c.
528, 829.
IOhLAI
«E8TJ
□ □□ I
□ □□□
ZELA'UM
^jj£%rox\
Union
.IEWAR
KET
[WABASH.
D.I'ANi
PRATRIE.
M
A P
O F
T H E
CH ICAGO .S U B W A Y CG
(ILLINOIS TUNNEL CO.)
42
R A IL W A Y
STO C K S
A N D
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c .
o n f i r s t p a g e o f ta b les.
[VOL. L XXXIX.
BONDS.
s e e n o te s
M ile s
of
R oad
Cln New Orl & T exas Pac (C o n c lu d e d )— N otes .............
___
N otes, due $150,000 semi-annually...............................
___
Equip trusts due abt $85,000 s-a (V 78 p 1391)-----___
do
Ser B due $97,000 seml-ann (V 82 p 928)
___
do
---------------------------------------------------------------__
Cincinnati Northern— 1st M $3,000,000 g o ld -.G c*& r
86
Cincinnati Richm ond & Ft W — 1st M gold lnt gu ar.c*
Clearfield & Mahoning— Stock 6 % rental......................
First m ortgage gold guaranteed B R & P -.G „c * & r
26
Cleveland Akron & Columbus— Stock $4,000,000-----General m ortgage (now first) gold ---------------------------177
First consol m tge $4,000,000]guaranteed p & 1 en d . 1 1881
gold sinking fund......... ...... \ not guaranteed____ )
\
Cleveland Cincinnati Chicago & St Louis— Com stock
Preferred stock 5 % non-cum ulatlve________________
C I St L & C con M drawn at 105 sink fund 1 % __ c*
175
Gen 1st M $10,000,000 g s f not draw n____ Ce c&r
Cleve Col Cln & Ind consol m ortgage (see t e x t )____
39)
Gen cons m ortgage ($12,000,000) g o ld -. U s.c*& r
391
Indian & St L 1st M In 3 series o f $ 6 6 7 ,0 0 0 ...U s .c
72
2d M ($2,000,000) gold Indlanap to Terre H ...C *
72
Clev Cln Chic & St L W hite W at Val D lv 1st g.C e.c*
62
Spr & Col D lv (Col Sp & Cln) 1st M gold_____ Ce c*
45
Cairo Division 1st M $5,000,000 gold ______ Ce.c*
267
St Louis D lv coll tr gold ($351,000 Ins f)__C e.c& r
104
Clncln W ab & Mich D lv first m tge gold ____ U s.c*
203
Gen M 100 years for $50,000,000 gold ___MeX.c*&r 1,021
Notes $5,000,000 gold_________________________ c&r
...
D a te
of
B onds
1906
1007
1904
1906
1007
1901
1871
1893
1887
1900
1900
1880
1886
1874
1884
1869
1882
1890
1890
1890
1890
1801
1803
1007
O b lig a tio n s f o r P r o p r i e t a r y L i n e s
Cincinnati Sandusky & Cleveland— Preferred stock .
170
Consol (now first) m tge $3,000,000 gold ___AB.e
Central Indiana first m tge $4,000,000 gold gu a r..C e
125
Ch I & St L S L 1st M $3,000,000 gold g u .-C e.c*& r
45
Louisville & Jeffersonville Bridge 1st M— SeethatCo
Cleveland Columbus Cincinnati & Indianapolis— Cleve land I
192
Cleve Lorain & W heel— Con mtge (now 1st) g .U sm .c*
General m ortgageSl ,000 000 gold redeem at 1 0 5 .. N
192
Consol ref m tge $10,000.000 gold red at 102 )4 -T a .c*
102;
1888
1003
1903
S iz e , o r
Par
V a lu e
A m oun t
O u ts ta n d in g
$600 .000
417,000
$1,000
340,000
1,358.000
1,000
418,600
1,000,000
1,000
1,800,000
1,000
50
750 ,000
650 ,000
1,000
4.000.000
■
100
1,800.000
500 &c
1,023,000
1,000
640,000
1,000
100 47,056,300
100 10,000,000
635,000
1,000
7,323,000
1,000 &c
4,138,000
1.000
3,205,000
1,000
2,000.000
1,000
500,000
1,000
650,000
1.000
1,103,730
500 &c
1.000
5.000,000
1,000 &c 10,000.000
4,000,000
1,000
1,000 24,058,000
5,000,000
1,000 &c
50
1.000
1,000
1.000
428,997
2,571,000
1.500,000
3,000,000
R a te
%
W h ere P a y a b le, a n d bv
W hom
5
A & 0 Cincinnati. Ohio
D Cincinnati, Ohio
6
J &
M & S Blair & Co New York
4
4)4 8 M & N Equitable Trust Co N Y
Various New York
6
4
& J Guaranty Trust Co N Y
J
7 g J & D W inslow, Lanler&Co N Y
6
J & J Checks mailed
5 g
J & J 36 Wall Street New York
4 in 1908 M & S Checks mailed
M & S W inslow,Lanier & Co N Y
5 g
do
do
F & A
4 g
do
do
F & A
4 g
See text. M & S J P Morgan & Co N Y
do
do
5 In 1908 Q— J'
do
do
6
M & N
do
do
<3— 1i>
4 g
do
do
7 or 6 g J & D
do
do
6 g
J & J
do
do
Various
7
do
do
M & N
6 g
do
do
4 g
J & J
do
do
4 g
M & S
do
do
J & J
4 g
do
M & N
do
4 g
do
do
J & J
4 g
do
do
J & D
4 g
do
do
J & D
5 g
6
5 g
4 g
4 g
ndiana polis St Louis & Chi cago — Se
1803
5.000,000
1.000
5 g
1896
1,000
893,000
5 g
1900
1 000
4,000,000
4)4 g
D IV ID E N D .— On pret., 1 M % ,p a ld quarterly Sept. 1 1902 to June 1909 ,
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 1906, 3 % ; D ec., 2 )4 % : 1907 and 1908, 5% ( J & D ) ; 1909, June, 2 H
On April 1 1906 $1,500,000 5% notes were Issued to pay for Improvements,
payable $150,000 semi-annually to April 1911, Inclusive. V . 83, p. 1225.
in N ov. 1907 $500,000 3-year 6 % notes were sold. V . 85, p . 1338.
S T O C K .— Com m on, $3,000,000, controlled in Interest of Southern R y
and Cincinnati Hamilton & Dayton R y . V . 61, p. 26; V . 65, p. 1173.
Stockholders In May 1908 subscribed for $500,000 new preferred stock
at par, raising the amount outstanding to $2,500,000. V . 8 6 . p. 1099, 1409.
L A T E S T E A R N IN G S .— 1 1 9 0 8 -0 9 ...Gross, $7,153,313; net, $2,495,920
11 m os., July 1 to May 31. J1907-08.--G ross, 7,294,939; net, 1,657,987
A N N U A L R E P O R T .— R eport for year ending June 30 1908 was In V . 87.
p . 1296, showing, gross, $7,861,378: net, $1,735,977; other Income, $302,
697: rentals, $1,233,925; interest, $207,244; Im prov., $340,000; d lv . on
pref. (5 % ), $100,000; d lv. on com . (5 % ), $150,000; bal., sur., $17,510
In 1906-07, gross, $8,401,608; net, $1.603,051.— (V . 87, p . 1296.)
W h en
P a y a b le
VI
J
M
A
do
& N
do
& J
& N Central Trust
& O J P Morgan &
do
do
Co N Y
Co N Y
6 Clevela nd Cincinnati Chicago &
A & O 2 W all Street New York
do
do
J & D
do
do
J & J
B on d s—P r in c i
p a l, W h en D u e
S to c k s — L a st
D iv id e n d
Dec 11910
S e p ’OO-Mch ’ l l
N o v ’00-M ay ’ 1 6
.June 1 1921
1 1009
Jan 1 1943
Mch 25 1909 2 %
Mch 1 1927
Aug 11940
Aug 11940
Mch 2 1008 1 %
July 20 1909 1 yi
May 1 1920
Aug 11936
June 1 1914
Jan 1 1934
July 1 1919
N ov 1 1912
July 1 1940
Sept 1 1940
Jan 1 1939
N ov 1 1900
July 1 1991
June 1 1093
June 1 1011
M ay
Jan
N ov
Apr
1
1
1
1
1900 3 %
1928
1953
1953
St Louis
Oct 1 1933
June 1 1936
Jan 1 1030
part owner of Cent. Indiana R y .. Cent. Union Depot & R y. of Cincinnati,
Union Depot of Columbus, Dayton Union R y ., Dayton & Union R R ., Muncle Belt R y. and Findlay Belt R y ., which arc operated Independently.
C A P IT A L ST O C K .—-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), and on Oct. 31 1006 to $50,000,000.
In 1907 $4,806,580 was subscribed for by stockholders at 90; $2,249,720
additional was sold to Jan. 1909. V . 83, p. 687, 1290; V . 84, p. 1247.
D IV .— %1 ’ 06, ’ 97. ’ 98. *99. *00. ’ 01. ’ 02 to ’ 07.
10 0 8 .
1909.
C o m ____ 1
0
0
0
0
3 3)4 4 yearly.
1
T o July, 0
P ref..........J
5 2)4 5
5
5
5
5 yearly.
5
Incl. July, 3 %
In 1908, on co m ., M ch., 1 % ; In June, none. V . 86, p . 1529.
B O N D S.— The sinking fund provision of the C le v e la n d C o l u m b u s C i n c i n
n a ti A I n d i a n a p o l i s c o n s o l, b o n d s (stamped) has been canceled.
The prin
cipal of these bonds Is payable In gold, but the Interest Is payable at option
of holder, either In lawful m oney at 7 % per annum or In British sterling at
6 % . Of the I n d i a n a p o l i s * s t . L o u is 1st 7s, series " A ” are J. & J .; series
’ ’ B ,” M. & S.; scries “ C ," M. & N.
S t. L o u is D i v i s i o n b o n d s, see deed o f trust, V . 52, p. 42-45.
CINCINNATI NORTHERN RR.— ( S e e M a p C le v e la n d C i n . C h ic a g o A S t.
The 100-year m ortg a g e of 1893 Is limited to $50,000,000. In Jan. 1909
L o u i s . ) — Owns Franklin, O ., to Jackson. M ich., 208 miles; trackage (C. C.
$22,194,000 gen. 4s were reserved for prior liens (exclusive of Cairo division,
O. & S t. L ) , Franklin to Cincinnati. 38 miles; at Jackson, 1 mile. In 1909 Peoria Division, Michigan Division and the St. Louis Division west of Terre
Clev. Cln. Chic. & St. L. owned securities costing $1,094,892. V . 75, p
H aute), and $3,748,000 for equipment, construction and betterments, t&c.,
454, 457. S TO C K , $3,000,000. In year ending Dec. 31 1908. gross, $1,000,000 yearly. See V . 78, p. 1446; V . 70, p . 733; V . 83, p . 379; V . 87
$980,925; net. Inc., $120,542: charges, $86,917; bal., sur., $33,625. For p . 1010. Guarantees Chic. Indian. & St. L . Short Line R y ., Cent. Indiana
2 months ending Feb. 28 1909, gross. $151,448, against $105,794 in 1908; R v. and Springfield Union Depot Co. bonds. V . 77, p. 510, 517, 769,
net, $20,251, against $2,399. Pres., W . C. B rown.— (V . 81, p. 1314.)
1363, 2 2 8 0 ;V . 78, p. 1906, 1 9 6 1 ;V . 70. p. 2589.
Jointly with four other roads covenants to pay New Y ork Central lines
CINCINNATI RICHMOND & FORT W A YNE RR.— Owns from Rich
m ond, Ind., to Adam s. In d ., 8 6 m .; leases 5 m. of P. I t . W . & C. Now o p $30,000,000 5% equip, trust o f 1907, the com pany’s share of equipm ent
erated (A p r. 1909) by Grand Rapids & Indiana R y . Rental, net earnings. leased being $3,700,347. V . 85, p. 1401: V . 86, p. 168; V . 88, p . 761.
G E N E R A L F IN A N C E S .— Guarantees Interest on Louisville & Jefferson
Int. Is guaranteed by the Pennsylvania Co. and Pitts. Cln. Chic. & St. L. Co.
Jolntlv (the P. C. C. & St. L. taking the place of the Cln. Ham. & Dayton ville Bridge bonds Jointly with the Chcs. & O . V . 68, p. 822. Capital
in 1888). S tock, $1,709,313 (par $50.) o f which Penn. Co, owned $1,257, stock per mile of road owned Dec. 31 1908, $33,260; bonded debt, $36,371.
900. Due guarantors Jan. 1 1909, $1,645,122.
E A R N IN G S .— 5 m o s.,11900........... Gross, $10,335,007; net, $2,457,057
Y e a r e n d . D e c . 31.
G ross.
A el.
I n te r e s t, & c .
B a la n c e .
Jan. 1 to May 31.
J1908........... Gross,
8,893,779; net, 1,681,856
1908
..................... $613,703
$114,999
$163,938
def.$48,939
R E P O R T .— R eport for year ending Dec. 31 1908 In V . 86, p. 743, 765.
1907 .................................. 657,913
75,147
157,000
def. 81,853
1908.
1907.
1906.
CLEAR LAKE NORTHERN RY.— V. 88, p. 1001.
Miles operated...........................................
1,982
1,082
1,983
Passenger earnings.............
$6,908,326
$7,127,049 $6,963,864
CLEARFIELD & A1AHONING RY.— ( S e e M a p < B u f . R o c h . A P i t t s . ) —
Owns road, com pleted In 1893, from Du Bols J et., P a ., on Buf. R . & p . ( to Freight ..................................................... 15,711,941
17,238,347 15,683,733
Clearfield on Beech Creek R R ., 26 miles. Leased during corporate existence Mall, express, & c..................................... 2,001,304
2,082,408
1,947,319
and renewals thereof to Buffalo Rochester & Pittsburgh— which see— at a
Total earnings........................................$24,621,661 $26,447,804 $24,594,916
rental payable In gold and equal to 6 % on $750,000 stock, par $50, and 5%
on bonds, the latter being guar., p . & I., b y endorsem ent.— (V . 81. p . 710.) Operating expenses................................... 19,231,524 20,133,629 18,432,713
CLEVELAND AKRON & COLUMBUS RY.— (S e e M a p s o f P e n n s y l v a n i a
Net earnings............................................$5,390,137 $6,314,175 $6,162,202
R R . ) — Owns from Hudson, O ., to Columbus, O ., 144 miles; Dresden branch,
Kllbuck to Trlnw ay, 33 m .; Apple Creek branch, 9 m .; Howard coal branch, T otal net Incom e....................................... $5,527,542 $6,500,719 $6,370,771
Interest on bonds, & c-------------------------- 3,618,541
3,404,166
3,189,115
4 m .; coal spurs, 3 m .; total owned, 193 m .; trackage, Trlnway to Zanesville, T
a x e s ...........................................................
894,377
842,893
831,631
17 m . Owns a fourth Interest In Akron & Barberton Belt R R ., 2 4 m.
Rentals, &c....... ................... ...................
305,845
V . 76. p. 435. Car trusts outstanding, $671,765, due $82,992 yearly.
500,000
I’PP’S S S ,.,,
Penn. C o . took control June 1 1899, purchasing $2,237,500 of the $4,000, Dividends on preferred, 5 % ------------______ (3)1,41 1 ,6 8 9 (4 )1 ,5 1 1,7 54
000 stock (oar $100). Dividends, 2% yearly, Sept. 1901 to Sept. 1905; Dividends on com m on _____________
1906, 3 % (M -S); 1907, M ch., 1 )4 % ; S ept., 2 % : 1908, 4 % (M-S); 1 9 0 9 ,
Balance, surplus___________________
$208,779
$61,528
$53,053
M ch., 2 % . Of 1st cons, gold 4s of 1940 (Comm ’l Trust Co. of Phlla.,
O F F IC E R S .— Pres., W . C. Brown, New Y ork: Vice-Presidents, E. V . W .
trustee), $1,023,000 are guar., prln. & lnt., b y the Penn. C o m p a n y ; $1,800,
000 are reserved to retire the gen. 5s due 1927; V . 71, p. 390: V . 76, p. 653; Rosslter, John Carstensen, C. E. Schaff, A. H . Harris and C. F. Daly; S ec.,
V . 77, p. 1746, 2280. R eport for 1907 In V . 87, p. 282. In 1908, gross, Dwight W . Pardee, New York; T rcas., Chas. F. C ox, New York; A uditor,
$1,830,762; net, $535,045: oth. Inc., $51,384; chgs., $240,752: dlv. (4 % ), P . A. H ewitt, Cincinnati, Ohio.
.
_.
,
Directors.— William K . Vanderbilt, Fred’ k W . Vanderbilt, Chauncey M.
$160,000; a dd. & im p’ ts, $140,081; bal., sur., $45,596.— (V . 87, p. 282.)
J. Plerpont Morgan. H . MoK. T w om b ly. W m . R ockefeller. W ra.
CLEVELAND CINCINNATI CHICAGO & ST. LOUIS RY.— (.See M a p s Depew.
N.
Y . C e n tr a l A H . R . R R . ) . — R O A D .— Radiates from Indianapolis, Ind. H . Newman, W alter P. Bliss o f New York; M. E. Ingalls, Alexander Mc
westerly to Chicago, Peoria, Cairo, 111., St. Louis, easterly to Sandusky, Donald, Cincinnati; James Barnett, Cleveland, Ohio. (V . 88, p. 743, 765.)
CLEVELAN D LORAIN & W H EELIN G R Y .— (S e s M a p B . & O .)— Owns
Cleveland. Columbus and Cincinnati, O ., and southerly to Louisville,
from Lorain, O ., to Bridgeport, O ., opposite W heeling, W. V a 158 m .; Les
O w n ed D ir e c t l y —
M i l e s . \ L e a s e d a n d C o n tr o lle d —
M ile s
ter to Cleveland, 28 m ., and branch to Bellalre, O ., 6 m ., total, 192 m .; and
Cleveland, O .. to Columbus, 0 ..1 3 8 ICincInnatl & Springfield R y ------ 4 8
Gallon, O .. to Indianapolis............203 Colum. Hope & Greensb’g R R . . 24
has trackage into W heeling. V . 80, p. 1174.
Delaware t6 Springfield.................. 50 | J o i n t l y O p e ra te d —
H IS T O R Y .— Operated b y the Balt. & O hio, which owns practically all of
Cincinnati to Lafayette__________ 170|ChIc. Ind. & St. L. Short L in e .. 44
the stock. See that co . and V . 72, p. 480; V . 73, p. 236, V . 86, p. 602.
Indianapolis to Terre H aute..........7 2 1_ T r a c k a g e lnto Clnclnnati, & c ..
S
TO C K .— Com m on, $8,000,000, and p ref., non-cum ., 5 % , $5,000,000
Harrison B ra n ch ________________ 7 Trackage Into Jeffersonville_________ 53
par $100. After 5% on each, both stocks share alike. V . 60. p. 1058.
Trackage Into Toledo (V . 79, p.
L e a s e d — e n t ir e s to ck o w n e d —
1023, 2 6 9 6 ) .. ................................. 4 8
D IV ID E N D S .— On p ref.. 1896, 3 % : O ec . 1004. 2 ) 4 % : 1 9 0 5 to April
Cincinnati Lafayette & Chic. R y . 57
1908, 5 % ; O ct., none. D lv. on co m ., 2 ) 4 % . Mch. 2 1008. V . 86, p .2 8 4 .
Cairo Vincennes & Chic. R y —
Total Included In earnings___ 1,982
Cairo, 111., to Tilton & b ra n ch .261
B O N D S.— Of the $10,000,000 consol, refunding gold 4 )4 s, the remaining
O p e ra te d ; e a r n s , k e p t s e p a r a te —
St. L. D lv ., T . (I. to E. St. L . 190
$6,000,000
are reserved to retire old 5s. V . 70, p. 230, 480.
Peoria & Eastern R y . . ................*351
Columbus Springfield & Cln.—
R E P O R T .— R eport for year ending June 30 1908 was In V . 87, p . 1416.
Columbus, O .. to S pringfield.. 45 Cincinnati N orth ern ------------------»248
showing,
gross,
$4,159,554; net, $1,390,424; other Income, $2,343; charges,
Kankakee
&
Seneca
R
R
_______
4
2
W hite W ater— Harrison, In d ., to
& c., $816,406; d lv. on pref. ( 5 % ), $250,000; d lv . on com . (2 ) 4 % ) , $200,
2
Hagerstown, Ind..................
62 Mt. Gilead Short Line.................
Loulsv. & Jeffersonv. Bridge________» 3 000; balance, $ 3 2 6 ,3 6 1 .— (V . 87, p. 1416.)
Cln. Wabash & Michigan R y .—
Benton Harbor to Rushvllle and
CLEVELAN D & MAHONING V A L L E Y R Y .— Owns from Cleveland, O ..
Total of system June 30 ’ 0 9 ..2,628 to Sharon, P a., 81 miles (57 double track); Niles, O ., to New Lisbon. O .,
branch _____________________ 249
Other lin e s _______________________ 59 Trackage 111. Cent. Into C hlc.l
and branches, 44 m. Leased to N ypano R R . (form erly N. Y . Penn. &
On percentage basis............../
Cincinnati Sandusky & Cleve. R y .—
Ohio) till 1962; rental $525,967 per annum. Coupon Interest Is J. & J .,
Sandusky, 0 .,t o D ay’ n. O..&C.170 | O p e ra te s I n d e p e n d e n t ly —
registered Interest, Q .-J. Stock Is $3,259,200, of which $3,258,250 Is held
IDayton & Union R R . (• )______
47
bv "A tla n tic First Leased Lines Rental Trust C o., L im ited,” of London.
•See this com pany.
IDouble track.......... .................... 3 3 9
Dividends In 1897, 1 3 H % : 1898 to 1904, both Inclusive, 1 3)4% yearly; In
In Apr. 1909 a new double-track line from Evansville to Mt. Carmel, 1905, 11-42% ; In 1906 to 1908, 1 1 .4 0 % .— (V. 63, p. 968.)
In d ., 30 miles, was under construction. V . 83, p. 817, 1098.
CLEVELAN D & A1ARIETTA R Y .— Owns from Marietta O ., to Canal
H IS T O R Y , & c.— A consolidation of the Cincinnati Indianapolis St. Louis Dover, 103 miles, and branch, 7 miles, Zoar, O ., to Canal D over, leased.
& Chicago Railway C o., the Cleveland Columbus Cincinnati & Indianapolis Stock. $2,000,000, of which the Pennsylvania Co. u . c . 31 1908 owned
Railway Co. and the Indianapolis & St. Louis Railway C o., made In July $1,788,500 (par $100); surplus earnings over charges go to 0 . & M. D ivi
1880, per plan in V. 48, p. 427. Of the com . stock, $30,207,700 was In Jan. dends paid In 1906 (3 % ), $60,000; In 1007, 4 % ; In 1908, 5 % .
1909 owned by the L. S. & Mich. So. R y ., a m ajority of the entire share
B O N D S.— Guaranteed prln. and Int. b y Penn. C o . ; sinking fund 1 % .
capital. V. 72, p. 8 6 ; V. 82, p. 749.
E A R N IN G S .— In 1908, gross, $037,083; net, $307,792; lnt. on bonds,
The com pany Is also one-fourth owner of Peoria & Pekin Union R y .
(through the Peo. & East. R y .), one-fourteenth owner In Terminal R R . $56,250; Im provem ’ ts, $179,275; oth. chgs., $11,180; dlvs. (5 % ), $100,000;
bal., sur., $51,087. In 1907, gross, $1,006,969; net, $338,787.— (V .8 8 ,p .5 2 ).
Association o f St. Louis, and two-fifths owner of Indlanap. Union R y ., and
Ju
ly
, 1909. J
R A IL W A Y
STO C K S
A N D
BONDS.
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b les
M ile s
of
R oad
D a le
B on ds
S ie e , or
Par
V a lu e
1888
1895
—
C lcvc & M V— Cons m (now first) $3,000,000 g .C c .cA r
125
103
Cleve & Alar— First m tge s f not drawn gold guar F.c*
Cleve & Pittsburgh— Stock 7 % guar by Penn R R Co
...
Special betterment stock $10,738,135 guar 4 % ____
Gen M $10,000,000 gold..Fl.S eries A & B - - ------ e*
202
202
Guaranteed prln and lnt)SerlesC A D ......... . . c *
(end) Penn R R ______ j Series B lnt reduced . .
202
Cleveland Terminal & Valley— See Baltimore & O hio.
Coal & Coke— First mortgage $5,000,000 gold ----------184
Coal & Iron— See Western Maryland
Coal River R v— See Chesapeake A Ohio
Colebrookdale— 1st M $593,400 und Read M of 1897-c
13
Colo Midland— 1st M $19,000,000 (V . 71. p. 139) _Cec*
259
Colorado & Southern— Common stock $31,000,000__
First preferred 4 % non-cum ulatlve $ 8 ,5 0 0 ,0 0 0 .___
Second preferred 4 % non-cum ulatlve $8 500,000 —
First m ortgage gold $19,853,000------------------ Cc c* 1,059
R ef M $ 1 0 0 ,0 0 0 , 0 0 0 g red 101-----------------Cc xc*r* Text
Equip bonds ser A due s-a red 101 (V 84 p 5 0 7 )-. (}
Col So N O & Pac— 1st M $12,000,000 g red 1 0 2 !4 --C e
Equip tr notes due $80,000 s-a gu by St L & S F .Ba
Colo Sp & Crin Cr 1) R y— 1st M $2,000,000 g s f._ C c
75
First consol mortgage $3,600,000 gold -------M o.cA r
Colorado Texas & M exico— First mtge $75,000,000_171
Colorado & W yom ing R y— 1st M $7,500,000 gold . - Ale
Coltini Ncwb & Laurens— 1st M $12,000 p e r m ---- SBa
75
Columbia Southern— First m tge gold $2,1 00 ,0 0 0 ...iN
70
Columbia & Greenville— See Southern R y
Columbus A Toledo— See Hocking Valley R y
$1,000 Ac
1,000
50
50
1802
1,000
’98-00
1,000
1892
1,000
C om bination'B ridge (Sioux City la)— First mortgage
Concord & Claremont ( N i l) — First m ortga ge.............c
Concord & Alontrcal— Stork Class I (B C & M p r e f)..
Stock Class ir (B C & M n ew )......... ..............................
Stock Class III (B C & M old s to ck )................ ............
Stock Class IV (Concord) $6,000,000 auth (te x t)___
1895
1894
X Series " A . ” JA.T:
“ B ,” A A O .
y “ C,” M AN :
71
1903
1,000
1808
1897
100 Ac
1,000
100
100
100
1,000
100 Ac
1,000
1 ,000
1,000
1 ,000
1,000
1,000
1,000
1,000
1,000
1882
1899
1905
1907
1905
1907
1900
1902
1908
1903
1887
1898
____
“ D .”
50
500 Ac
1,000
100
100
100
100
L E A S E .— Leased for 999 years Dec. 1 1871 to Penn. R R .C o ., and lease
transferred to Pcnnsylvana Co. Rental, 7 % on 511,261,865 stock, Interest
on bonds and organization expenses. “ Special guaranteed betterm ent
stock” (subordinate to the original stock as to dividends o n ly ), with divi
dends of 4 % guaranteed b y the Penn. R R ., Is Issuable for Improvements,
V. 79, p. 2205, 2642; V . 83, p. 625; V . 85, p. 1082; V . 87, p . 812.
BO N D S.— Generals arc all equally secured; guaranty. V . 56, p. 004.
E A R N IN G S .— In 1908, gross earnings, $8,406,205; net, $2,867,424;
prollt to lessee, $1,331,308.— (V . 87, p. 812.)
CLEVELAN D SHORT LINE R Y.— T o be a belt line connecting eight rail
roads by tracks remote from the heart of Cleveland, O ., starting at Lorain,
about 20 miles northwest of the city. Of this 10 miles to be com pleted In
1908. Cost to be about $10,000,000. Stock, $3,750,000; par, $100. V
86, p. 167. Pres., W . C. Brown; V .-P ., D. C. M oon.— (V . 88, p. 563.)
C LEVELAN D TE RM IN A L & V A LLE Y R R .— (.See M a p B a lt i m o r e *
Owns from Cleveland, O ., to Valley Junction, 75 miles; branches,
11 miles: yard track and sidings, 89 miles.
S TO C K .— Of the $4,615,300 c o m m o n (par $50) B . A O. owns $4,594,300
and of the $2,060,750 preferred, $1,826,700; par, $100.
BO N D S.— The 1st M. bonds are guar., p. A L, b y B. A O ., endorsed.
Due B. A O. on general account June 30 1908, $1,148,313.
R E P O R T for year ending June 30 1908 was In V . 87, p . 1297, showing
gross, $1,083,528; net, $274,907; other Income, $29,386; Int., A c., $284,280;
bal., sur., $20,012. (V . 85, p . 1395; V . 87, p . 1297.)
O h io .)—
COAL & COKE R Y .— Owns from Lclter, W . V a .. to Charleston, VV. V a ..
166 miles; trackage. Letter to Elkins. 7.6 m .; Morris Creek branch, 3 m .;
M ableto Belllngton, 17.7 m .: branch from Middle Fork to Cassltv Fork. 12 m .,
total, 207 miles. Branch from Gassaway, W . V a., to W olf's Creek, 8M
miles, Is proposed. About 100,000 acres o f coal lands are ow ned.
Stock, com ., $10,000,000, all outstanding; 5% pref.. $10,000,000 author
ized O ct. 1907, of which $8,881,800 Issued to purchase $6,300,000 bonds
and settlement of other debts: bonds reduced to $5,000,000, of which $2,
000.000 In treasury. V . 85, p. 1005. Mortgage covers road and coal lands.
V . 78, p . 47. Car trusts June 30 1908, $442,000, due $55,000 yearly: loans
and bills payable, $2,567,299.
» E A R N IN G S.— 11 m os.,11908-09------------Gross, $578,275; net. $142,042
July 1 to May 31.
J1907-08------------Gross, 559,750; o p .d c f .,17,662
R eport for year ending June 30 1906 (184 miles) was In V . 83, p. 1409.
In 1907-08, gross, $606,737; net, $11,866; net Income coal d ept., $117,885;
total net, $129,751; lnt. on bonds, $176,175: other Int., taxes, rentals, A c.,
$145,810; bal., d ef., $192,234. Pres., H . G. Davis, Elkins, W . V a.; Seo.,
C. M. H endley, W ashington, D . C .— (V . 85, p . 1005; V . 88, p. 1499.)
COLEBROOKDALE R R .— Pottstown to B arto, P a., 12.84 miles. Leased
to Phlla. A Reading Ity. Comm 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, 226 miles; Jerome Park branch,
15 miles; Aspen branch, 18 miles; total owned, 259 miles. Leases New
Castle to Rifle Creek, 14 miles, and R io Grande Junction R R ., Rifle Creek,
C ol., to Grand Junction, 63 miles; total owned and leased, 336 miles.
O R G A N IZ A T IO N .— Successor O ct. 1897 to the Colorado Midland R a il
r o a d . foreclosed and reorganized per plan In V . 64, p. 1224, 1226.
In May
1900 a m ajority of the stock. If not the entire Issue, was purchased b y a
syndicate In the Joint Interest of the Colorado & Southern and Denver A
R io Grande. V . 70. p. 686, 791, 997. 1290; V . 71, p . 28; V . 73. p . 1111.
Pref., $6 000,000; com m on, $4,000,000.
E A R N IN G S .— 11 m os.,1 1908-09........... Gross, $2,123,740; net. $366,517
July 1 to May 31.
/1907-08............Gross, 2,035,798; net, 382,955
Deficit under charges, $32,155, against deficit of $193 In 1907-08.
G ross.
N et.
M is c . in c.
C h a r o es ,
IN T E R E S T OR D IV ID E N D S
A m oun t
O u ts ta n d in g
$2,935,000
1 .250 ,000
11,247.635
8,803,800
4,561,000
4,684,000
439,000
3,000,000
R a le
%
W hen
P a y a b le
5 g
See text W inslow. Lan A
g M A N Farmers L A Tr
Q— M W inslow, Lan A
Q— M
do
X
4H g
do
SH g *
do
¥
~
3^ g A A O
do
7
4
6 g
A
A
Co N Y Jan 1 1938
Co N Y May 1 1935
Co N Y June 1 1909 1 H
do
June 1 1909 1 %
do
J a n -O ct1942
do
1948-1950
do
Oct 1 1942
O Elkins W V a or Balt
600,000
6
J A D Reading Term inal. Phlla
9,179,000
J A J Central Trust Co N Y
4 g
31,000,000 See text See text Office. 26 L iberty, N Y
8,500 .000 1 In 1908 A A O
do
do
8,500,000 4 In 1908 A A O
do
do
19,402,000
4 g
F A A
do
do
25.133.000
do
do
4 'A g M A N
770,000
5
A A O Guaranty Trust Co N Y
See text
4 H g M A N New York
1,120,000
5
F A A
1 ,740 ,000
J A J Chem Bk N Y ; A Col Sn
5 g
1 ,379,000
A A O M Trust N Y ; A Col S d
5 g
See text
5
J
A .J New York
4,500 ,000
M A S Boston B lock, Denver
4 g
899,000
J A .1 Safe Dep A Tr Co, Balt
3 g
700,000
J A D New Y ork Trust Co N Y
5 g
1,786,200 See text Q— M
500 ,000
5
J A J
500,000
4X
J A J
800,000
Q— .T
7
540 ,400
7
Q— J
459 600
7
Q— J
5,807.600
7
Q— J
B on d s— P r in c i
p a l, W h en D u e ,
S to c k s — L a s t
D iv i d e n d
W h ere P a y a b le, and by
W hom
Treasurer, Columbus O
Hanover Nat Bank N Y
First Nat Bank Boston
Checks mailed
do
do
do
Apr 1 1919
June 1 1898
July 1 1947
Dec 15 1908 2 %
Apr 1 1909 2 %
Apr 1 1909 2 %
Feb 1 1929
May 1 1935
Oct ’09-A pr ’ 17
N ov 1 1925
Feb TO-Feb ’ 17
Jan 1 1930
Oct 1 1942
Jan 1 1958
Mch 1 1953
July 1 1937
Dec 1 1948
June
July
Jan
July
July
July
July
10 19092 %
1 1915
1 1914
1 1909 1 H
1 1909 1 M
1 1909 \ %
1 1909 1 'A
FA A
CLEVELAND & PITTSBURGH R R .— (S e e M a p P e n n s y l v a n i a R a ilr o a d .)
— Cleveland, O ., to Rochester, Pa.. 124 miles; branches— Bayard, O ., to
New Philadelphia, 31 m .; Yellow Creek to Bellalrc, 43 m .; other 3 m .;
trackage, Rochester to Plttsb. (P. F t .W . A C hic.), 20 m .; total, 227 miles.
Y ear.
43
B a la n c e .
1907-08................$2,200,756 $426,830
$58,480
$462,992 sur. $22,318
1906 07............... 2,454,610
580,591
49,691
443,294 sur. 186,988
1905-06............... 2,132,665
515,753
40,948
433,059 sur. 123,642
O F F IC E R S .— Pres., Daniel W illard; Vlce-Pres., Chns. H. Schlacks:
T rcas., II. B. Henson: S ec., J. Steuart MacKIe, 71 Broadway, New York.
Directors— George B . Harris, Daniel W illard, W . P. Clough, Edwin
H awley, George J. Gould, Edwin Gould, W inslow S. Pierce, Harry Bronner,
E. T . Jefferey and Chas. II. Schlacks.— (V. 88, p. 451, 504.)
COLO. & N. W . R R .— See Denver Boulder A W estern.
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 A Gulf and Denver Leadvllle & Gunnison.
In D ec. 1908 the Chicago Burlington A Quincy acquired $23,657,500 com .
stock (practically a controlling Interest) held b y Edwin H awley and asso
ciates. V . 87, p. 1603, 1604; V . 88. p. 158, 685.
Owns a large m ajority of the com . stock of Fort W orth A Denver City
R y ., which see. Owns a beneficial Interest In one-half stock of Colorado
Midland. V . 70, p. 739. In March 1902, Edwin Hawley and associates
acquired control. V . 74, p. 679, 727. The voting trust terminated April
1 1905. Controls Denver A Intcrurban (Electric) R y ., which owns 27
miles, operated since July 1 1908, and operates 24 miles o f Col. A S ou.,
which has been electrified under lease. V . 79, p. 1266; V . 87, p . 950.
In 1905 control of Col. Spr. A Crip. Cr. Dlst. R y . was acquired; also Trln.
& Brazos V al., Cleburne to Mexla, T e x ., 79 miles, with extensions building
and W ichita, V al. R y ., Byers to Seym our, T e x ., 75 miles. See “ B onds”
below and V . 80, p, 1423, 1856; V . 81, p. 1241; V . 82, p. 928; V . 83, p. 695.
D IV ID E N D S .— 1st pref. 1900, 2 % ; 1901, 3 H % : 1002. 3 H % : 1903, 4 % ;
1904, April, 2 % ; 1905, none; 1906 to April 1909, 4 % (A . A O .). On 2d
pref.. In 1907 and 1908, 4 % (A. & O .): 1909, April, 2 % . On com m on.
2 % D ec. 15 1908. V . 87, p. 1300; V . 88, p. 1499.
B O N D S .— 1st M ., see V . 68, p . 1027; V . 77, p . 2158; V . 87, p . 414, 1160.
The $100,000,000 refunding bonds of 1905 were made Issuable as follows:
F or refunding bonds and equipment obligations o f system ............$36,850,000
For betterm ents and Improvements, Including equipm ent, at the
cumulative yearly rate, beginning Jan. 1 1905, of $500 per
mile of operated and controlled lines____ _____ _______________ 15.000,000
For reimbursement of the treasury of the com pany. A c_________ 2,500,000
F or acquisition of additional property (Including proper provi
sion for the cost of double-tracking parts of the main lin e s ).. 45,650,000
Equipm ent bonds of 1907 mature $51,000 s-a to April 1 1914; thereafter.
$52,000; V . 84, p . 507. Pullman Co. car trusts June 30 1908, $251,489. *
The refunding bonds are secured b y a first lien on all the bonds and praotlcally all the stock o f the cos. owning 526.30 miles o f road. Including the
W ichita Valley lines and the T rinity A Brazos Valley R y .; also b y direct
lien, subject to the first m ortgage, on 1,058.66 miles o f road owned b y
the Colorado A Southern and on practically all the stock of subsidiary cos.
owning 546.8 miles o f road, m aking 1.605.46 additional miles on which
there arc outstanding $30,962,000 underlying bonds; total thus covered,
2,131.76 miles, on which the total outstanding funded d eb t. Including these
bonds and all prior liens, averaged In 1009 about $26,300 per mile
B y agreement, the R ock Island Co. has taken a half Interest In stock
of the T rinity A Brazos Valley R y . C o., subject to the lien of the Colorado
& Southern mortgages and the Colorado A Southern R y . C o., and the
Chicago R ock Island A Pacific R y . Co. have agreed to advance to the
Trinity & Brazos Valley R y . Co. any necessary funds not otherwise pro
vided for. The Chicago R ock Island <Sc Pacific R y . Co. has also agreed
to pay for, on May 1st 1935 (date of m aturity of Colorado A Southern
refunding and extension mortgage) one-half of the first m ortgage bonds
and other securities of the Trinity A Brazos V alley R y . Co.
E A R N IN G S .— Including F t. W orth A Den. Cltv and all affiliated lines:
11 M o s . e n d . M a y 31—
G ross.
N et.
C h g e s .( N e t ). B a l., S u r.
1908-09....... ..................... $13,941,145 $4,541,624 $2,472,075 $2,069,549
2,448,270
1,956,001
1907-08................ ............. 13,207,832 4,404,271
R E P O R T .— R eport for 1907-08 at length, showing operations of system .
Including the F t. W orth A Denver City and Col. Spr. A Crip. Cr. Dlst. R y .j
F ort Collins D env. R y ., Colorado R R . and W ichita Valley lines; was In
V . 87, p . 930, 949; editorial p. 909.
.
'
1906-07.
1907-08.
Average m iles....................................
1,932
1,958
Total operating revenues.................................................$13,373,804 $14,280,535
Operating expenses....................................
8,981,624
9,594,206
Operating Income (over taxes)...................................... 4,056,984 4,279,228
T otal net Incom e____________________ __________________________ $4,634,961
Interest on bonds, equipment obligations, A c__________________
2,463,058
Dividend on first preferred stock ( 4 % ) ___________ ____________
340,000
Dividend on second preferred stock ( 4 % ) . . ____________________
340,000
Balance, surplus for year___________________________________
$1,491,908
O ld B a s i s —
1906-07.
1905-08.
Miles operated________________________
1,857
1,663
Gross earnings......................
$13,456,489 $11,653,446
Operating expenses and taxes________ 9,582,114
8,214,307
1904-05.
1,663
$9,443,426
7,230,617
N et....................................................... ..
$2,212,809
$3,874,375
$3,439,139
COLORADO & SOUTHERN R Y . — (S e e M a p .)— Operates a system from
Orln Jet., W yom ing, through Colorado to Fort W orth, T ex ., and by ex
tensions built to 1906-07 reaches tidewater at Galveston, T ex ., and also
Houston, Dallas and other points, viz.: ( ‘ which see).
L i n e s O w n ed —
M ile s .
C o n tr o lle d —
M ile s .
Cheyenne to Orln Junction______ 154 Colorado R R . (V .8 7 ,p .677)............ 38
Denver to Bessemer J et., C olo___129 Fort W orth A Denver C ity_____ *454
Denver to Leadv. (nar. gauge)-.1 5 2 Col. Spr. A Crip. Cr. District____ *75
Como to Baldwin Mine (do ) _131 W ichita V alley______ ______
*113
Trinidad, C ol., to T ex. St. Iln e ..l3 5 W ichita Falls A Oklahom a________ 23
O th .lin es,h r.,A c.(103 nar. gauge) 346 Abilene A N orthern_______________ 38
Cheyenne to Denver (U n. P a o .)-.1 0 7 Trinity A Brazos V alley_______*4226
T r a c k a g e — Pueblo to W alscnb’ g
(Denver A R io Grande)_________ 58
COLORADO SOUTHERN NEW ORLEANS & PACIFIC R R . — (S e e S t . L .
A S . F . M a p .)— Baton R ouge, L a ., to Houston, T e x ., 303 m ., with branches
to Buna, T ex. Has trackage for 92 years from Baton Rouge to New
Orleans, about 130 miles, over Louisiana R y . & N av. C o .’s lines.
V. 88, p. 1002. Extension was built from De Qulncey to H ouston, T exas.,
137 m ., Including Kansas City Southern trackage between De Qulncey and
Beaumont, Texas, 47 m ., and the Beaumont Sour Lake & W estern R R .,
Beaumont to Sour Lake, 22 m ., and the Orange & Northwestern R R ., New
ton to Grange, T e x ., 61 m ., acquired. V . 87, p. 873; V . 88, p. 685.
Total
1,212
Total June 30 1008
62,374
b Includes 114 miles trackage.
Also owns half Interest In Colorado Midland, operating 338 miles,
The St. Louis & San Fran, owns all the stock and leases the road for 999
years, $8,500,000 of the bonds being deposited as security for $7,500,000
St. Louis & San Fran, notes. V . 82, p. 928. Bonds, see table above. V*
82, p. 509, 868. Equipm ent trust notes guar, b y St. Louis <Sc San I'raD.
O F F IC E R S .— Chairman and Pres., George B. Harris; V .-P ., A . D . Park
er, Denver, Col.; Sec. and Treas., B. F. Jam es, 26 Liberty S t., New Y ork.
New directors F e b . 1909, V . 88, p. 563.— (V. 88, p. 623, 748, 1499.)
R A IL W A Y
44
STO C K S
AN D
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b le s.
M ile s
of
R oad
Concord & Montreal— (C o n clu d ed )
166
Boston Cone & Montreal Improvement m tge..........c
262
Concorn A Montreal cons M for $5,500,000-_BB .e*
Debenture bonds $1,150,000 currency................... c*
do
do
$500,000 Interest guaranteed___
40 M
Concord & Portsm outh— Stock 7 % rental 90 y r s ____
Conn & Passumpsic— Pref stock 6 % rental 99 y r s -.c *
ill)
First m ortgage $1,900,000 gold --------------------------- c*
37
Massawlpp! stock guar same dlv as Conn A Passump
22
N ewport A R lchford 1st M guar by C & P ______ c*
80
Connecticut River— Stock $3,670,300 authorized)-----Bonds not m ortgage for $1,000,000 gold __________ c
Bonds not mortgage ______________________________
do
do
____ _____ ______________________
24
V V a l 1st M with $500,000 S Co R R stock as co ll. „c*
7
Conn (Phila)— Phlla G & Ch H 1st M guar by P e n n ..r
37
Conn R y 3 Yi % gold mortgage $5.000,000________
i o y2
C ooperstow n & Susq Vali— 1st M $200,000 lnt guar.
Text
Copper Range— First m ortgage gold (see t e x t )---------2C
Cornwall & Lebanon— S tock________________________
26
First M extended at 4 % In 1906 (V 82 p 1322)-----Cripple Creek Central— Common s to c k ----------------------Preferred stock 4 % non-cum ulatlve_______________
Midland Term first m tge gold sinking fund------ F.c*
Cuba Eastern— First m ortgage $1,000,000 g o ld .K .c *
Debentures ________________ „ ______________________
Northeastern Cuba 1st M $1,000,000 g gu p * 1---- Cuba Eastern Terminals first m ortgage gu aran teed..
Eastern R R of Cuba first and refunding mtge g o l d ..
N e w S e c u r itie s to b e I s s u e d u u d e r P l a n —
Common stock $2,750,000 auth---------------------1st pf stock (also as to ass) 7 % non-cum $2,750,0002d pf stock (also as to ass) 5 % non-cum $250,000.
1st mortgage $600,000 gold --------------—
Cuba R R — Pref stock, 6% non-cum , $ 1 0 ,0 0 0 ,0 0 0 -..
428
First m tge rbld $20,000 per m i l e ----------Mo .x c*A t*
Cumberland Corporation— Coll trust gold notes............
"57
Cumberland & Pennsylvania— First m tge gold g u a r ..
Somerset Coal car tr assum $76,000 y r ly ----------FBai
D a te
of
B onds
1881
1890
97-99
1900
1893
1881
1893
1901
1903
1880
1883
1902
1888
1899
1891
1895
1903
1905
1905
1907
1909
1002
1906
1891
1906
S iz e , or
Par
V a lu e
A m oun t
O u ts ta n d in g
$1,000
1,000
1,000
1,000
100
100
1,000
100
1,000
100
1,000
1,000
1 ,000
1,000
1,000
1,000
100 Ac
500 Ac
50
100 Ac
100
100
1,000
1,000
1.000
i .ooo
100
1,000 Ac
1,000
1 .000
V . 84, p. 507. Old bonds of companies acquired, for which St. Louis A San
Fran. gen. lien bonds of 1907 are reserved. $424,000 Orange A Western 1st
30-vear 5s due Sept. 15 1933 and $170,000 Beaumont Sour Lake A Western
Ist'Os due July 1 1935. Pres., A .J . Davidson, St. Louis M o.— (V . 88, p.685.)
COLORADO SPRINGS & C R IPPLE CREEK DISTRICT 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 A
Southern acquired all the stock except $900 com . V . 80, p. 4 7 2 ,1111, 1423.
Stock, all outstanding, com ., $1,200,000; pref., 5 % , non-cum ., $800,000.
Par of shares, $100 each. Dividend 5% on preferred, paid Feb. 1907.
Sinking fund can retire first mtge. bonds yearly at 110 for the first 15
years, then at 107H for 5 years, then 105 for the next five years, then
102H for three years, thereafter at par. V . 76, p. 345.
E A R N IN G S .— 11 m os.,/1 9 0 8 -0 9 ..............Gross, $702,872; net, $246,868
July 1 to May 31. 1 1907-08............. Gross, 622,435; net, 238,587
P res., Frank Trum bull.— (V . 81, p. 725; V . 87, p. 740; V . 88, p. 822.)
COLORADO T E X A S & MEXICO R R .— V . 86, p. 8 5 6 ,91 7 .
COLUMBIA NEW BERRY & LAURENS R R .— Columbia to Laurens,
S. C „ 75 m. Stock. $500,000. Bonds were 6s, but re-lssued as 3s In 1900
under agreement, certificates of Interest to amount to 40% of bonds being
Issued bearing Interest If earned.
E A R N IN G S .— 11 m o s .,(1908-09............... Gross, $262,475; net, $61,912
July 1 to May 31.
11907-08________ Gross,
266,717; net, 50,327
Year ending June 30 1908, gross, $282,581; net, $58,925; charges, $56,132;
bal., sur., $2,793. Pres., W . G. Childs, Columbia, S. C.
COLUMBUS & SOUTHERN R Y .— W yandotte, O ., at a connection with
the Penn. R R . to South Bloom lngville, 34 miles. Stock authorized,
•$2,000,000. Owned March 1908 by Geo. E. W ilber, B oston, Mass. For
year ending June 30 1907, gross $10,070; oper. d ef., $5,172; total, deduc
tions, $535; b al., d ef., $5 707.— (V . 82, p. 1379; V. 83, p. 1290.)
. COLUMBUS & XEN IA R R .-O w n s from Columbus, O ., to Xenia, O .,
55 miles. Operated as a division of the Little Miami, and is leased for 99
years from Dec. 1869, In connection with that road, to the Pittsburgh Cin
cinnati Chicago & St. Louis, which pays 8% on stock.
The lease is guar
anteed by Pennsylvania R R . Co. Dividends 2-5% per annum, from assets,
were discontinued In 1901.— (V. 72, p. 532.)
COMBINATION BRID GE (SIO U X C ITY, I A .).— Owns steel bridge 1,940
feet long over -Missouri R iver, with approaches, 1 mile, used by railroads
and street cars as a highway. Stock, $1,500,000. Mtge. trustee. Union
Trust C o., Indianapolis, Ind. Pres., Jos. C. Head, Latrobe, Pa.; Sec., F.
L. E aton, Sioux City, la .— (V . 78, p. 102, 286.)
CONCORD & AlONTREAL R R .— From Nashua, N. II., via Concord,
Plym outh, A c., to Groveton and the W hite Mountains, 450 miles In all,
Including Manchester & Keene, 30 m .; owned Jointly, 414 m .; 35 m. double
track. Owns Concord Street R y ., 11 m .: also electric branch from Concord
to Manchester, N. H ., 17 miles, and Nashua & A cton R R ., 20 miles.
On June 29 1895 leased to Boston & Afalne for 91 years at rental of 7%
per annum on all stock.— (V . 84, p. 449; V . 85, p. 864, 921; V . 86, p. 668.)
CONCORD & P0RTSA10UTH R R. — Owns Portsm outh, N. II., to Man
chester, N. H..40VS m. Leased to Concord R R . in 1862 for 99 years; rental,
$25,000; 7% on stock and org. exp. Operated by Boston A Maine.
CONNECTICUT & PASSUMPSIC RIVE R S R R .— W hite River Jet., V t.,
to Canada Line, 110 m .; leases 999 years Massawlppl Valley, 37 miles.
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 of
lessee and $400,000 of It (not Included In the amount outstanding) Is pledged
as part security for 4s of 1893. Of the $2,500,000 pref., $500,000, as also
$50,000 Massawlppl Valley R y . stock, are represented b y Connecticut Trust
& Safe Deposit Co. of Hartford 5% trust certificates, under which the V er
mont Valley has the right, for 45 years from A ug. 1 1885, to purchase the
trust stock at par and Interest and In the meantime receives all dividends
a bove 5% per annum on the stock deposited In trust.— (V . 57, p. 1040.)
CONNECTICUT RIVER R R .— Owns from Springfield, Mass., to Keene,
N. IT., 74 m .; Bellows Falls to Brattleboro, V t., 24 m .; branches, 6 m .; total,
104 m ., of which 50 double-tracked. Controls Sullivan Co. R R ., Bellows
Falls to W indsor, V t., 26 miles. V . 80, p. 1478; V . 81, p. 899, 1723.
L E A S E .— Leased for 99 years from Jan. 1 1893 to the Boston A Maine,
annual rental (as amended Oct. 10 1895) being 10% per annum on capital
stock, payable directly to stockholders; also Interest on bonds and scrip and
$2,000 for organization expenses. Lessee pays all taxes, operating ex
penses, A c., but lessor to Issue Its stock or bonds for permanent Improve
m ents.— (V . 81, p. 899, 974, 1723; V. 83, p. 625; V . 87, p. 414.)
CONNECTING R Y. (P H IL A D E L P H IA ).— Owns from Girard A ve. to
Frankfort Jet., Pa., 6 m .; North Phlla. to Chestnut Hill, 7 m .; branches,
A c., 23 m .: total. 36 m. V . 73, p. 390. Stock authorized, $5,800,000; out
standing. $3,613,650; all owned b y Pennsylvania R R ., which operates
road under lease terminating F eb. 28 2862. Dividends 4% yearly (J .A D.)
— (V . 75, p. 1354.)
COOPERSTOWN & CHARLOTTE V A L L E Y R R .— (Sea M a p D e l. A
H u d .).— Owns Charlotte Crossing to Davenport Centre, 4.51 m .; leases for
99 years from Jan. 1 1889, Cooperstown A Susq. Valley R R ., Cooperstown
to Charlotte Crossing, with branch to Cooperstown Jet., 19.48 m ., guaran
teeing Interest on latter’s $200,000 5% bonds. Stock, $45,000, acquired
July 1903 by Del. A Hud.— (V. 77. p. 88.)
COPPER RANGE R R .— Calumet, M ich., to Mass City, with branches;
total, 82 m .; sidetracks. 33 m. Stock, $4,003,700, of which $1,398,600
owned by Copper Range Consolidated (Mining) Co. Bonds limited to
$20,000 per mile of main line and branches and $15,000 per mile of sidings.
Of the $2,025,000 bonds outstanding, $615,000 were In Jan. 1908 held In
the treasury of the Copper Range Consolidated Co. V . 78, p. 228.
E A R N IN G S .— 10 m os.,/1 9 08 -0 9 ..............Gross, $625,161; net, $159,898
i
Julyt 1 to April 30. \1907-08.............. Gross, 669,249; net, 183,643
[VOL. L X X X IX .
BONDS.
$500,000
5.000.
1,050 000
473.000
350 ,000
2.500.000
1.900.000
400.000
350.000
3,226,100
1.000. 000
290 ,000
969.000
800.000
1.000,000
1.109.000
200 000
2.025.000
800,000
764,900
2 ,500 ,000
3.000.
401.000
648.000
221.000
1.346.000
74.000
2,8 59,000
R a te
%
W h en
P a y a b le
W h ere P a y a b le, a n d by
W hom
B on d s— P r in c i
p a l, W h e n D u e
S to c k s — L a s t
D iv i d e n d
J A J Faneull Hall Bk Boston Jan 1 1911
J A I) Safe Dep A T r Co Boston June 1 1920
A D Boston S D A T r Boston June 1 1920
J
June 1 1920
do
do
J A 1)
July 1909 3H %
J A J Manchester N H
F A A Safe Dep A T r Co Boston Aug 1 190 9 3 %
Apr 1 1943
do
do
A A O
Aug 1909 3 %
do
do
F A A
6
Jan 1 1911
do
do
A J
J
5
July 1 1909 5 %
10
.T A J Boston. Mass
Sept 1 1943
do
M A S
4 £
Jan 1 1921
do
J A J
Jan 1 1923
do
J A J
3H
5
A A O Safe Dep A Tr Co Boston Oct 1 1910
M A N Broad St Station Phlla May 1 1913
4H
Mch 15 1932
do
do
3H g M 15 V S
M A N Nat Bk Cooperst’n N Y May 1 1918
5
Oct 1 1949
A A O Boston, Mass
5 g
8 in 1909 Seml-an. Co’s O ffice, Lebanon Pa July 31 1900 5 %
Apr 1 1921
do
do
4
A A O
Oct 21 1907 1 H
See text Q — J 2 5 Checks mailed
June
1 1909 1
Quar.
do
See
text
000
J A D Farmers L A T r Co N Y Dec l 1925
5 g
Mch 1 1033
M A S In default
6 g
6
0004
3H & 4
3Xi
7
6
6
6 g
2.613.500
2.613.500
110,500
600,000
10,000,000 See text
8.399.000
5 £
5g
15,000.000
1.000.
0005 g
5
760.000
M
F
A
A
s
A
Sec text
J A J
J A D15
M A N
J A D
do
do
do
do
do
do
Morton Trust Co N Y
New York T r. C o., N. Y .
Guaranty Trust Co N Y
F ldclltv Trust Co Balt
Mch 1 1955
Feb 1 1925
Mch 11957
20 years
Aug 2 '0 9 ,1
July 1 1952
June 1 1912
May 1 1921
Dec 1909-1918
Year ending June 30 1908, gross, $807,322; net, $204,042; Interest, 5149 850; bal., sur., $54,192. Pres., W illiam A . Paine; Sec. and T reas., Fred
erick Stanwood, B oston.— (V . 78, p. 228.)
C O RN W ALL & LEBANON R R .— Owns Lebanon. P a ., to Conewago,
21.66 m .; branches,4.78 m. In 1901 the Pennsylvania Steel Co. acquired
$540,000 stock; remainder m ostly owned b y Lackawanna Steel Co.
DIV1 T o 1893. ’ 94. ’ 95. ’ 96. ’ 97. ’ 98. ’ 99. ’ 00. ’ 01. ’ 02 to ’ 06. ’ 07 ’ 08. 1909.
P .C .I4 -4 H y ’ly 2
4
4
3
4 4M 5 5H
6 y ’ly
8 7
8
. In 1007-08, gross, $308,104; net, $92,994; other Income, $13,729;
charges, $43,658; dlv. (7 % ), $56,000; bal., sur., $7,066.— (V . 89, p. 224.)
CORVA1 LIS & EASTERN R R .— Owns Yaqulna to Idanah, Ore., 142
miles. Land grant was 850,000 acres. In 1907 the Southern Pacific
acquired all the stock ($1,410,000) and $1,410,000 4 % bonds. V . 84, p.
1427.
E A R N IN G S.— In year ending June 30 1908, gross, $244,316: net, $68,
7. In 1906-07, gross, $235,807; net, $96,014. Pres., J. P. O Brien;
Treas., John W . N ew kirk;'Seel, H . F . Connor. O ffice, Portland, Ore.—
(V. 84, p. 1427.)
“ COTTON BELT.” — Common name for St. Louis Southwestern R y .
C RIPPLE CREEK CENTRAL R Y .— Divide, C ol., to Cripple Creek and
Florence, A c.. 76 m .; V ictor to Vista Grand, 6 m .; branches and spurs to
mines, A c., 45 m .; total, 127 m ., of which 47 m. standard gauge. Controls
Midland Terminal R y ., Florence A Cripple Creek R R ., Golden Circle R R .,
Canon City A Cripple Creek R R ., Colorado Trading A Transfer Co. See
V . 69, p. 851, 1011, 1103; V. 72, p. 984: V . 74, p. 880; V . 77, p. 1542.
Reorganization, per plan In V . 78, p. 2018; V . 77, p. 1542, of the Denver
A Southwestern, foreclosed Oct. 4 1904. V . 79, p. 1461.
STOCKS AN D B ON DS.— Com. stock, $2,500,000; 4% non-cum . pref.
stock, $3,000,000; par of shares. $100. V . 82, p. 1156; V . 85, p. 1209.
D IV ID E N D S .— On pref., 3% paid July 20 1905; Oct. 25 1905, 1%
(quar.); Jan. 1906 to Oct. 1907, 4 % yearly (1% Q .-J .); 1908, Sept. 1, 3%
for 9 m os. ending June 30 1908; D ec., 1 % : 1909, M ch., 1 % ; June, 1 % . On
com ., O ct. 25 1905, 3 % ; In 1906, 7 M % . Incl. 2% extra; 1907, 6 % (Q .-J.);
none since to July 1909.
E A R N IN G S.— For 6 m os. ending Dec. 31 1908 earnings of controlled
cos. were $381,199; net, $132,742; charges and taxes, $25,753; other incom e,
$24,291; total Inc., $131,280; gen. e xp ., $7,213; bal. for dlvs., $124,066.
R E P O R T .— R eport for year ending June 30 1908 In V . 87, p . 1234,
showed gross earnings of railroads controlled, $708,151; net Income of rail
roads over charges. $96,704; total net Income of parent com pany above
general expenses, $208,187; dlv. on pref. stock (2 % ), $60,000; dlv. on
com . (3 % ), $75,000; total surplus. Including $97,813 surplus of previous
years. June 30 1908, $170,999; dlv. o f 3 % on pref.. paid Sept. 1908, called
for $90,000. Pres., Henry M. Blackmer; V ice-Pres., Charles F A yer;
Sec. and Treas., John Gorlow. Office, 49 Exchange Place, N. Y. Di
rectors, V . 79, p. 1461; V . 82, p. 1156.— (V . 87, p. 1234, 1419. 1532.
CUBA EASTERN R R .— Owns from port of Bogucron at Granadlllo Bay,
on south coast of Cuba, northwest via Guantanamo to forest lands owned by
the Cuba Hardwood C o., 43 miles; leases for 09 years Northeastern Cuba
R R . from San Pre to San Luis, 47 miles, with 6 milesi of branches. P ro
jected to NIpe Bay and Manzanillo. On Aug. 11 1908 W . Harris R oom e
of New York was appointed receiver. V . 87, p. 414, 543.
B o n d h o ld e r s ’ C o m m itte e . — Benj. P. Cheney, Chairman, P. Chauncey
Anderson, 20 Broad S t., N. Y ., Sec.; New Y o r k v " 8 s nl on!
Colony Tr. Co., Boston, depositaries. V . 86, p. 420, 337, 1409, v - *®>P-2»4.
Pres., Edgar Van F.ttcn. Office, 66 B ’way, N . Y .— iY,- ®8 >P\‘ 9.4 > 6.23-)
P L A N .— The plan of reorganization declared operative early In 1909
(V. 88. p. 294) provides for a merger of the allied companies with ne\v cap
italization as shown In the table above and. If d e s i r e d , . ! °
hold the new stock for not to exceed 5 years. I h e $600,000 tmnds are to
be offered at 85% with a bonus of 25% each In first pref. and com m onstock,
to provide for floating debt, reorganization expenses, 3 years lnt. on the
bonds, improvements, rolling stock 6nil working capital.
1 he Knicker
bocker Trust Co. of N. Y . has underwritten $2o0,000 bonds on condition
that at least $ 2 0 0 , 0 0 0 additional arc disposed of.
, o
The old mtge. bonds are to receive 5 0 % each In 1st pref. and com m on
stock and the Cuba Eastern debentures 50% In 2d pref. stock,
llicre will
be left In the treasury about $136,500 of each class of stock.
CUBA R R .— Owns from Santa Clara. Cuba, to Santiago dc Cuba, 356
miles; branches, Zaza Jet. to Sanctl Splrltus, 8 miles, A lto Cedro to the Bay
of Nlpe, 31 m .; Ponupo branch. 11 m .; Jattbonlco branch, 4 m ., Holguin
branch, 12 m .;T a n a branch, Of* m .: Bayamo branch, 12 m .; total, 440 M
miles. See V. 75, p. 1157, 1347. Extension proposed from Santa Clara
to Havana, 170 m. V . 82, p. 1322. R oad opened Dec. 8 1902. G ovt,
loan, $492,283 May 31 1909: any balance not repaid by G ovt, transportation
service to be paid Dec. 15 1916 without lnt. V. 83, p. 1093, V. 88, p. 944.
Stock authorized, $ 1 0 ,0 0 0 , 0 0 0 each of com m on and 6 /0 non-cum ulatlve
preferred: outstanding, com m on. $6,126,000: preferred. *19.000,000; par.
$100. First dividend on pref., 1 H % . payable Aug. 2 1909. Bonds, appli
cation to list, V. 86, p. 924; V . 88, p. 451; V. 89, p. 162.
E A R N IN G S.— For 11 months ending May 31:
11 M o n t h s —
G ross.
N et.
B a la n c e .
$858,442
$364,517
$493,925
1908-09............................... $1,960,461
1907-08............................... 1,893,901
668,384
333,olO
334,874
R E P O R T for year ending June 30 1008 was In V . 87, p . 810, showing,
gross earnings, $2,039,468; net over taxes, $7 2 1 ,287; Interest.on bonds, A c.,
$365,863: bal., sur., $355,424. In 1906-07, gross, $1,053,300.
Pres., Sir William C. Van Horne; S ec., Herbert G. Lakin; Treas., Stephen
H . Voorhees. Office, 83 M ontgom ery S t.. Jersey City, N. J .; 1 7 0 Broad
w ay. New Y ork.— (V. 88, p. 451, 944, 1619; V . 89, p. 162.)
CUM BERLAND CORPORATION.— O R G A N IZ A T IO N .— A holding co m
pany owning the stock ($10,000,000) of the CllnchflcUl Ccal Corporation
(V . 80. p. 2346, 2222, 224), which owns 285,000 acres of coal lands In Vir
ginia, stock of the Carolina Cllnchileld A Ohio R y . and a block of the Sea
board Co. stock (see the two companies last named In this Section )
S tock, com m on, $25,000,000; 6% pref., $15,000,000, all paid In. In cu r
J u l v , 190!).]
R A IL W A Y
STO C K S
A N D
BONDS.
45
R A IL W A Y
46
STO C K S
Dayton Leb & Cin R R & Term — First M g red (text)
Dayton & Michigan— Com stock <3 M % guar C H &D)
Preferred (8 % guaranteed O H & D) endorsed-------i •First m ortgage guar p & l endorsed by C H <So D — c
Dayton & Union R R — First M sink fund (not draw n).c
Dayton Union R y— First m tge sink fund call at p a r.F
Del a ware— Stoc k-------- - - -------------------------------------f - W ' l
General m ortgage gold -------- ---------------------------- FP.c*
Delaware & Chesapeake 1st M assumed c u r r e n c y ..c
Delaware & Bound Brook— Stock 8 % gu Phlla <fc R ead
First m ortgage $1,800,000 guaranteed— ..........PeP
Delaware & Eastern— 1st M g re d begin Jan 1 9 1 0 ..x c*
Delaware & Hudson— Stock $55,711,500 (te x t)-------First M on Pennsylvania Dlv ($10,000,000).U n .c& r
Schenectady & Duanesburg first m ortgage................
Adirondack 1st M gold guar p & 1 end — Us.c*&r
1st & ret M $50,000 000 g s f red 107M beg’ 18.xc* &r‘
Debentures $14,000,000 gold con v (see t e x t )..o * & r
E quipm ent deb $2,500,000 $200,000 annually Jan 1
E quip 1st Hen bonds $10,000,000 g s f---- U sm .xc*& r
G u a r a n te ed S e c u r itie s —
Hudson Coal Co deb guar p & 1 end part due yearly
Blu fi.Point Land Im provem ent Co 1st M g gu------ c*
Chat Ore & I refunding m ortgage call 105------ N c*&
Albany & Susquehanna R R , N Y & Canada R R .O h
Delaware Lackawanna & W estern— Stock $30,277,000
Delaware Maryland & Virginia— June & B— 1st mt
Break & Frank 1st M to State red since Jan 1805
Other m ortgages______________________________ - Denver INorthw & Pac— 1st M $22,500,000 g —
Continental Tunnel 1st M $5,000,000 gold guar p&l
Denver & R io Grande— Stock com m on (see t e x t )-- l'r
Preferred stock 5% non-cum ulatlve $50,000.000.Tr
First & ref M $150,000,000 gold red te x t.-B a x c* & r*
[VOL. LXX X IX .
BONDS.
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f i r s t p a g e o f ta b le s.
A N D
M ile s
of
R oad
29
142
32
249
113
54
34
14
57
D a te
of
B onds
1907
1871
1871
1881
1879
1899
1892
1882
1905
1907
1877
1874
1892
1908
1906
1900
1907
’01-02
1890
1902
39
19
I860
1874
10
1890
1909
1902
210
6
2,529
1908
Size, o r
Par
V a lu e
$1,000
50
50
1,000
1,000
1,000
25
1,000
1,000
100
1,000
100
1,000 &c
100 &c
1,000
1,000 &c
1,000
10,000
1,000
A m ount
O u ts ta n d in g
R a te
%
100
1,000 Ac
Julv 1906 sold $15,000,000 notes secured b y stock of the Carolina CUnchfield
& Ohio and Seaboard Co. (see table a b o v e ).— (V. 83. p. 155; V . 86, p. 668;
V. 88, p. 944.)
CUM BERLAN D & PENN SYLVAN IA R R .— Owns from Cumberland,
M d., to Piedm ont, W . V a .. and several branches, 57 miles. Owned and o p
erated b y Consolidation Coal C o., which guarantees b y endorsement the
first m ortgage. V . 52, p. 390. Stock, $1.500,000; par, $100. On Dec. 1
1907 purchased 1,523 cars from the Somerset and Fairmont coal companies,
assuming the car trusts Issued thereon, v iz.. $836,000 of Somerset Co. (see
table above) and $45,000 additional, which matured In series to May 1909.
V 85, p. 1401. For year ending June 30 1907, gross, $1,136,262; net, $652,
526; charges, & c., $550,994; bal., sur., $101,532.— (V . 85, p. 1401.)
W h ere P a y a b le, a n d by
W hom
J A D Cleveland O
$300,000
5 g
A & o Cincinnati
2,401,950
SM
do
8
1,211,250
Q— J
5
J A J J P Morgan & Co N Y
2,728,000
J A D Amer Exch Nat Bk N Y
7
225,000
J & J Farmers L A ’l’r Co N Y
450,000
4 g
2,987,225 8 In 1900 J A J Checks mailed
500,000
4 M g J A J Broad St Station Phlla
do
do
F & A
4
400,000
3— F llW S ta te S t, Trenton, NJ
8
1,800,000
1 ,800,000
3M g F A A Alech Nat Bk, TrentonNJ
J A J New York
5 g
See text
42,400,000 9 In 1909 Q — Mch Office 32 Nassau St N Y
M A s
do
do
7
5,000,000
M & S
do
do
500,000
6 g
do
do
1 .000,000
4M g M & s
Co
do
M & N
4 g
13.539,000
do
do
9 15 06 JJ
4 g
13,977,000
do
do
A j
j
900,000
4 g
do
do
10,000,000
4M g J & J
1,700,000
4 g
4 g
300 ,000
4 g
1 ,300 ,000
d R R , Utlc a Clinton
50 30 277,000 20 In ’08
3
185,000
All
3
200,000
All
4
650 ,000
4 tr
1 soo.ooo
1 .000
100 &c See text . TO 5%
4 g
1,000 hee text
6 g
100 Ac See text
1,000
1,000
1,000
W hen
P a y a b le
do
do
M & N
do
do
J & J
do
do
J & J
A Bing R R , Coop A Chari Valley
See text 90 W est Street New York
J A J Broad St Station Phlla
do
do
J & J
do
do
F & A Philadelphia Pa
People’s T r Co, B kin,N Y
M A S New Y ork or Denver
Semi-an Denver Col
45,779 800 5 In 1909 ,T
F
22,506,000
5 g
*
A
B on d s— P r in c i
p a l. W h en D u e
S to c k s — L a s t
D iv i d e n d
June 1 1922
Apr 1 1009 1 H
July 1 1909 2 %
Jan 1 1911
Dec 1 1909
July 1 1949
July 1 1909 4 %
July 1 1932
Feb 1 1912
Aug 20 1909 2 %
A ug 1 1955
July 1 1957
June 21 1909 2 H
Sept 1 1917
Sept 1 1924
Mch 1 1942
May 1 1943
June 15 1916
1910 to 1914
July 1 1922
May 1 1910-18
Jan 1 1940
Jan 1 1942
— See those cos
See text
Jan 1 1932
Jan 1 1932
Overdue
Aug 1 1936
July 1 1939
Sept 1 1952
10 years
J Office 195 B ’w av N V July 15 1909 2 H
A Bankers’ Trust Co, N Y Aug 1 1955
D I V D S — / ’ 87. ’ 88. ’ 89 to ’ 96. ’ 97 to ’ 00. ’ 01 to ’ 06. ’07. ’08. 1909.
S in c e ’ 8 6 .% \ 5
6
7 yearly
5 yearly
7 yearly
0
0
9
Dividends In 1909 fixed at 9 % , payable quarterly. V . 88, p. o2.
G E N E R A L FIN A N C E S.— On May 9 1899 the stockholders voted to set
aside every year, as a sinking fund to retire stock and bonds and guaranteed
securities, an amount equal to at least 5c. per ton of coal sold, or $175,ouu to
$200,000 per annum, to be charged against Income account, v . o s , p.
926 1180. In 1900 $200,000 stock was retired b y sinking fund^,$147,500
In 1901, $138,600 In 1902, $100,000 In 1903, $417,100 In 1904, $50,000 In
1905, $228,500 In 1906.
Stockholders May 9 1905 authorized Increase of $5,000,000 stock for con
version, at option of holders, to April 1 1916, of $10,000,000 A lbany & Susq.
3 U % bonds, dated April 1 1906, on the basis of $500 stock for $1,000 of
CU M BE R LAN D V A L L E Y R R .— See Pennsylvania R R .
bonds. The bonds weie sold at par pro rata to D . & H. stockholders to
the Albany & Susq. 6s and 7s. effecting a material saving of ''Merest.
DA L LA S CLEBURNE & SOUTHWESTERN R Y .— Owns Egan, on Mo; refund
In 1906 the Albany & Susq. stockholders were held b y higher Federal Courts
Kan. & T ex. R R ., to Cleburne, 10 m. Leaded to M o. Kan. & Tex. R y . V- to
entitled to the benefit of this refunding. V . 85, p. 721; V . 83, p. 1036.
76 p.48. Bonds auth., $150,000 1st m tge. 30-year gold 5s. due Jan. 1 1933 V . be
80, p. 1174, 1362, 2343; V . 88, p. 938, 1499. T o June 1909 $3,3o4,000
V . 83, p. 213. Pres., B . P. M cDonald. Cleburne, T ex .— (V . 83, p. 213.)
bonds had been converted Into D . & H . stock.
DAYTON LEBANON & CINCINNATI R R . & T E R M IN A LC O .— See p.168
Stockholders Feb. 19 1906 authorized Increase of the stock by $7,000,000
to provide for exchange of an Issue of $14,000,000 of 4% 1 0 -year debentures
DAYTON & M ICHIGAN R R .— Owns D ayton , O ., to Toledo June., O .. dated June 15 1906, which was subscribed by stockholders at oar.
141.82 m .; trackage Into Toledo, 0.92 m . Leased May 1 1863 in perpetuity, debentures are exchangeable for stock at the rate of $500 stock for $1,000
to Cln. Ham. & D ayton. Lease modified June 23 1870. Rental Is mainte debs. btn. June 15 1907 and 1912, Inc. V . 81, p . 1848; V . 82, p . 687.
nance of organization, Int. on bonds and 8% on pref. stock and 3 M % on
The equlpt. Hen 4 Ms of 1907 ($10,000,000 Issue) have an annual sinking
com . Guaranty on pref. Is secured by m tge. of 1871, but the pref. carries
no voting power. V . 56, p . 813. Mtge of 1856 Is held alive under m tge. of fund of $650,000 to purchase bonds of the Issue, other securities or addi
tional equip, to com e under the mtge. V . 84. p 1 2 4 7 , 1 3 0 7 ; V . 85, p. 1082.
1881. C. H . & D . reserved notes of 1908 to retire bonds.— (V . 88, p. 563.)
On May 12 1908 the stockholders authorized a first and refunding m ort
DAYTON & UNION R R .— Owns from D odson, O ., to Union City, Ind.- gage for $50,000,000, bearing not over 4 % int. and running 35 years, and
32 miles; leases D ayton to D odson, 15 miles; total operated, 47 miles- su b ject to redem ption as an ent rety only at 107 M on any Int. day, beginning
The Cleve. Cln. Chle. & St. Louis and Cin. Ham. & D ayton jointly own the May 1 1918. One per cent of the am ount of bonds outstanding Is to be paid
$86,300 stock. The amount reauired for redemption of bonds at their to the trustee June 1 annually from 1909 to 1942, to be used to purchase
m aturity Is already In sinking fund. Year end. O ct. 31 1908, gross, $154, bonds or for improvem ents and extensions. Of the Issue, $6,500,000 will be
720: net, $17,453; oth. Inc., $10,203; charges, $48,716; b al., d ef., $21,060.
reserved to retire the outstanding 1st M. bonds and $3,500,000 for Issue
DAYTON UNION R Y .— Union depot at D ayton , O. Used b y Pitts. after May 1 1909. In July 1908 the co. applied for permission to sell $20,
Cln. Chic. & St. L ., Clev. Cln. Chic. & St. L ., Cln. Ham. & D ayton, Dayton 000,000 to discharge outstanding obligations maturing during 1908 or for
construction work In progress, authority being given In July 1908 to Issue
& Union R R . and Erie R R ., under lease which provides that Interest on
bonds and other expenses be divided between them on train basis. Stock, $13,309,000 and In Dec. 1908 $230,000. The application to Issue the re
$321,000. all com
Pres., W . C. Brown. New Y ork; Sec.. W . F . Stark, mainder of the bonds was denied, but an appeal has been taken to the courts.
V . 86, p . 081, 1409, 1589; V . 87, p . 06, 480, 1419, 1604.
D ayton , O. Office, Cincinnati, O .— (V . 73, p. 1312.)
E A R N IN G S .— 5 m o s.,/1 9 0 9 _________Gross, $7,678,035; net, $2,815,853
D E LA W A R E R R .— (S e e M a p s P e n n s y l v a n i a R R . ) — Shellpot Crossing,
Jan . 1 to May 31.
\1908................Gross, 7,319,587; net, 2,583,376
Del. to Delmar, M d ., 95.20 miles; branches, Centrevllle, M d., to Townsend,
Net from coal department, $445,986 In 1909, against $416,780.
Del.,’ 34.99 m .; Clayton, D el., to O xford, M d., 54.27 m .; Seaford, D el., to
Cam bridge, M d., 32.96 m .; Masseys, D el., to Chestertown, M d., 20.52 m .;
R E P O R T .— For 1908, in V . 88, p. 938.
_
other branches. 10.08 m .; total, 248.92 miles. V . 67, p. 1356.
Y e a r e n d . D e c . 31—
1908.
1907.
In c. or D ec.
9,165,689 10,025,312 D ec.
859.623
Leased till May 1 1027 to the Philadelphia Baltimore & W ashington, Anthracite coal carried (ton s).
which owns $1,664,475 of the stock: rental net earnings— see V .64, p. 1000. Gross earnings of railroads------ $18,500,731
2 ® °’ ^ ’SSp’om
D lvs. 1898 to July 1906. 6% yearly: 1907, 8 % ; 1908, 8 % ; 1909, 8 % . In Net (railroads)..... - - ................... 7.680,010
8,471.011
Dec.
782,001
year ending O ct. 31 1908, gross, $2,658,576; net, $089,836; other income, Coal department (n et).............. 1,145,418
J’
Jna’
aoi
rw '
$42,944; Interest, hire o f equlpm ’t, & c., $474,559; dlvs. (8 % ), $238,978; Other Incom e_________________
1,504,675
l,o64,301
D ec.____
extraord. exp. fund, $200,000; bal., sur.. $19,244.— (V . 83, p. 1523; V . 88,
p. 563.)
Total net Income...................$1 0 ,3 3 9,1 04
$11,208,518 Dec. $869,416
Miscellaneous re n ta ls................
1,897,628
2,353.528 Dec.
455,899
D E L A W A R E & BOUND BROOK R R .— Owns from Bound Brook (Cen
t., taxes and miscellaneous.
3 ,1 8 7 , 0 1 8
2,389,816
In c.
797,202
tral of N . J.) to Delaware R iver. 27.02 miles; branch to Trenton, 3.74 m .; In
Dividends on stock _______ (9 % ) 3,816,000 (9)3,816,000
----------------second track, 27.02 m .; third track. 9.02 m .; all track, 87.36 m. In May
1879 leased for 990 years to Phlla. & R eading R R . Rental, $213,000, payBalance, surplus_____________$1,438,458
$2,650,173
Dec. $1,211,715
ng Int. and 8 % on stock; lease assumed by P . & R . R y . — (V . 81, p. 210.)
The earnings of the coal department In 1908'^ e5PK? 2®’? 4I ’11}5i1c^Renses>
D E LA W A R E & EASTERN .— See page 168.
$22,701,698; net, $1,145,418. In 1907, $23,594,415, net, $1,173,206.
O F F IC E R S .— P res., L. F . Loree; Chairman E xec. C om m . R . M. Oly
D E LA W A R E & HUDSON CO.— (See M a p .)— Operates railroad lines
from Wilkesbarre, P a ., via A lbany. N . Y ., to Rouse’s Point, on Canada phant; V .-P ., Chns. A . Peabody; 2d V .- P .. C. S. Sims, 3d V .-P W . H .
Williams; Treas., C. A . Walker; S ec., F . M . Olyphant, 32 Nassau S t., N . Y .
line, with branches, 845 miles In all. V . 68, p. 871.
Managers— R obert M. Olyphant, Chauncey M. Dcpew, John Jacob
L i n e s m aned —
M i l e s . \ L i n e s lea se d — ' S e e th ese c o s . M i l e s
Lackawanna & Susquehanna____ 22 I‘ A lbany & Susquehanna------------ 142
Valley R R . of P a ....... ..................... 17 |‘ Rensselaer & Saratoga----------------192
Honcsdale Branch........................... 27 I ‘ Chateaugay & Lake Placid R R . 80
Schenectady & M echanlcvlllc____ 10 |‘ Union R R ______________________ 22
D E LA W A R E LA CK AW A N NA & WESTE R N R R ( S e e M cep.) — Opcr
Cherry Val. Sharon &A lb a n y .. 21 I‘ Jefferson R R . (trackage)-------------- 35 ates main line from H oboken, N. J .. opposite N. Y . City, to Buffalo, N . Y ..
New York & Canada____________ 150 IOther lines________________________ 50 410 m ., with branches to anthracite region, & c., 547 m ., viz.: ( ‘ see this co.)
•Schenectady & Duanesburg------ 14 |
L i n e s L e a s e d (C o n c l . ) —
L i n e s o w n ed —
M ile s .
Adirondack R y ---------------------------- 57 |
•Cooperstown & Charlotte Valley 4 |
----- N. J. State line to N . Y . line____ 114 Utica Chenango & Susquehanna 97
Branch to Northum berland_______80 Valley R R . of New Y ork ______ 11
Branches and spurs_____________
2 I Total operated Jan. 11909____ 845
L i n e s co n tro lled a n d o p e r .— M i l e s .
H o p a tc o n g ______________________
1
Also leases U tica Clinton & Binghamton and R om e & Clinton R R ., 44
Erie & Central New Y ork ________ 18 •Syracuse Binghamton & N. Y ._ 81
miles, sub-let to N. Y . Ontario & W estern. The com pany owns the Quebec Syracuse & Baldwlnsvllle R R __
1 Sussex R R -------------------------------------- 31
Bangor & Portland R y ................. 38
Montreal & Southern R y .. which extends from St. Lam bert, opposite
L i n e s lea se d — (See each co.)
M ontreal, through Sorel to Pierreville, and from Novan Junction to St.
•Morris & Essex and leased brchs.176 Lackawanna & Montrose R R ___l i
7
R oberts Junction on the aforesaid line, a total o f 144 miles; an extension
•N. Y . Lackawanna & W estern .214 Hanover & Newport R R _______
from Pierreville to St. Phllom ene, 48 m ., wa-s com pleted in June 1909.
•Cayuga & Susquehanna________ 34
Total operated Jan. 1909_____ 957
The line will be ultimately continued to Levis, connecting with the Quebec Greene R R ---------------------------------- 8
Bridge at Chaudlere Jet., a total distance of 50 or 52 m. V . 81, p. 1610;
•Oswego & Syracuse_____________ 35
V . 83, p. 379; V . 84, p. 338, 623. On May 23 1908 the New York & Canada
Cut-off between Slateford, P a ., and Port Morris, N. J ., under co n
R R . was m erged, and In July 1908 the Cherry Valley Sharon & Albany R R . struction, requiring about three years to b u ild . will shorten line. 11 V, miles
V . 86, p. 856, 1223; V . 87, p . 166.
V . 86, p. 543. The new tunnel through Bergen Hill, N . J ., H of a mile, was
In Feb. 1905 a half Interest In the stock of the Schenectady R y ., 116 miles, opened for traffic Feb 14 1909. V . 88, p. 504.
was purchased. V . 82, p. 687. Owns $12,499,600 of the $12,500,000
H IS T O R Y , & c.— Original com pany chartered In 1832; present title as
stock of the United Tract. Co. of A lbany, which In Dec. 1906 acquired most sumed In 1853. No sub-companies (coal and mining) arc controlled, the
of the stock and bonds of the Hudson Valley (Electric) R y . V . 81, p
railroad owning Its anthracite mines. In April 1903 the entire stock of the
1550, 1610; V . 84. p. 51.
N. Y . & H oboken Ferry Co. was purchased. V . 78. p. 815.
H IS T O R Y , & c.— This com pany was chartered April 23 1823. It Is one
In June 1909 the D . L . & W . Coal Co. was incorporated with $6,
800,000 authorized stock to act as selling agent for the com pany’s coal In
of the largest miners of anthracite coal. The Hudson Coal C o., whose
stock Is owned, controls coal lands having In 1908 an estimated tonnage Pennsylvania, the railroad stockholders being permitted to subscribe for
o f mlnable coal of 423,265,353, and In June 1909 agreed to purchase the
Its stock pro rata to the extent o f 25% of their holdings. See extra d ivi
entire present and future coal output o t D . & H. V. 86, p.913; V . 88, p.1499.
dend below. V . 89, p. 41.
J u l y . 1 9 09 . j
RAILWAY STOCKS AND BONDS.
47
KAILWAY STOCKS AND BONDS.
48
M ile s
of
R oad
Denver”* Rlo'ckande— iC o n c lu d e d )
1 1,667
First cons mortgage for 542,000,000]
now first mortgage................. — /gold.. JJs.c*Ar 11,667
Improvement mortgage ($5,000 per mile) gUs.c*Ar 1,667
180
Rio Grande Southern first mortgage guaranteed.Ce
62
Rio Grande Junction first mortgage guar------- Ce.c*
435
Rio Grande Western 1st M gold (V 69 p 284)..Ce.c*
669
First cons mtge redeem at par (see text) g-.Mo.c*
36
Utah Central 1st M guar (V 68 p 724) gold----- Mo
Utah Fuel Co 1st M $2,000,000 redeem at 110.Alo
Pleasant Valley Coal 1st M s f redeem at 115.-Alo
—
Salt Lake City Union Depot A RR— See that Co.
Equipment bonds Series A gold $75,000 due seml-an
do
do
Series B red 101 g $75,000 due s a
...
Des Aloines & Fort Dodge— Common stock----Preferred stock 7% non-cumulatlve-------------First mortgage gold guar prln & Interest— Ce.c*Ar
133
Second mtge $1,000,000 gold redeem at 105------- Ta
...
Des Aloi la F & No— See St. Pa il & Des Moines—
4
Des Aloines Union— First M for $800,000 gold.-Ce.c*
Detroit Grand Haven & Alilw— First equip M guar-.c*
189
Consol mortgage guaranteed.......... ..........
c*
189
Detroit Hillsdale & S W— Stock 4% rental L S & M S
65
Detroit Grand Rapids & Western— See Pere Marquett e R R
Detroit & Alackinac—Prcf stock $1,000,000 auth.........
"First lien” $1,500,000 gold-------------------------- Mo.c* A ll
"Mortgage bonds” $1,750,000 g red at par— Alo.c* A ll
—
Detroit Toledo & Ironton— Com stock (V. 80, p. 650).
—
First pref 4% non-cum (prcf as to assets) $7,500,000
Second preferred 5% non-cumulatlve $5,000,000__
263
Detroit Southern— Ohio South Division mtge.-Ce
General lien & division 1st M $4,253,000 gold-.N.c* A ll
Consolidated mortgage $22,500,000 gold............K.c* T e x t
Notes for Ann Arbor redeem 102 H yearly.........Usm
Equip trust notes g (V 82 p 99) $207,000 yrly.-Ta
Detroit Southern car trusts due $40,000 yearly----x Of which $1,677,000 In treasury; there are also $2,233
D a te
of
B on ds
1886
1886
1888
1890
1889
1880
1899
1898
1901
1898
S U e, or
Par
V a lu e
1.000
1,513,458
W h en
P a y a b le
J
4 g
4H g J
J
5 g
J
4 g
.1
5 g
,1
4 g
A
4 g
A
4 g
M
5 g
J
5 g
W h ere P a y a b le, and by
W hom
J N ation a l P a rk B a n k , N Y
do
do
J
1)
do
do
& J M aitland , C o p p e ll, N Y
&
&
&
A
A
A
A
A
A
4 H g .U &
M A
5 g
do
D
J M orton T ru st
do
O
do
O
do
S
do
J
N Blair
do
Co N
do
do
do
do
600,000
1,27.;>,000
1005
1906
100
1,000
1,000
763 ,500 5 In 1909 A u g u s t 25 B r o a d .Street N
r A J C entral T r u s t C o N
3 ,0 7 2 ,0 0 0
4 g
A & O
600 ,000
5 g
1887
1878
1878
1895
1895
1,000
1,000
200 A c
100
100
1,000
1,000
671 ,000
2 ,0 0 0 ,0 0 0
3 ,2 0 0 ,0 0 0
1 ,3 50,000
940,234
*3,6 5 5 ,1 1 9
844,255
Balance, surplus after dividends.. $5,457,125
$4,849,327
$587,071
•Earnings of the coal department In 1908, $41,487,o5o; expenses, $37.
320,763: net, $4,166,792: 1907, $42,184,935: expenses, $37,960,014; net,
$4,224,921; 1906, earnings, $38,564,171; net, $3,655,119.
OFFICERS.— Pres., W. H. Truesdale; Sec. and Treas., A. D. Chambers
90 West St., N. Y.
BOARD.— Fredk. W . Vanderbilt, Wm. H. Moore, Eugene Higgins.
Henry A. C. Taylor. J. Rogers Maxwell. Geo. F. Raker, Wm. Rockefeller,
Hamilton McK. Twombly, James Stillman, M. Taylor Pyne, Harris C.
Fahnestock, Frank Work. John D. Rockefeller Jr.. William Fahnestock.—
(V. 87. p. 1160, 1419; V. 88, p. 504, 558 , 044, 1619; V. 89, p. 41,221.)
DELAWARE A1ARYLAND & VIRGINIA RR.— Owns from Harrington
to Franklin City, Va., 78 miles: Georgetown to Rehoboth, Del., 20 miles;
total. 98 miles. Controlled by Phila. Balt. A Wash., which owns $326,200
of the $526,758 stock (par $25), and so by Penn. R R . See V. 50, p. 498.
In year ending Dec. 31 1908. gross, $323 835; net, lncl. other Income. $ 1 5 ,
610; Interest, taxes, Ac., $60,229; balance, deficit for year, $44,610 —but
this does not Include Interest on lloatlng debt (of $822,985 Dec. 31 1908).
DELAWARE RIVER RR. & BRIDOE CO.— Frankford Jet., Pa., to
Pensauken, N. J., and branches, 9.52 miles.
Capital stock ($1,300,000) Is all owned by the Pennsylvania R R ., which
guarantees bonds, principal and Interest, by endorsement. Dividends;
Dec. 1900 to June 1906. lncl., 4% yearly (2 J.AD.) ;Dec. 1906. 3% : 1907
June, 3% : Dec., 2% ; 1908, 6% (J. A D.); 1909, June 26, 2% . Sink, fund.,
1 % ; bonds cannot be called. Guaranty, V. 63, p. 1062, 1159; V. 83, p. 1524.
DENISON BONHAM & NEW ORLEANS RY.— Bonham Jet. to Bon
ham, Tex., 24 miles. Operated since completion. Dec. 1 1901, by the MoKans. & Tex. under a 10-yr. contract. Stock, $50,000. In Nov. 1905 per
mission was given to register $325,000 30-year gold bonds; none outstanding
July 1907. V. 76, p. 381: V. 81, p. 1610. Pres., Ed. D. Steger; Sec.,
John W . Russell.— (V. 77, p. 823; V. 81, p. 1610.)
DENVER BOULDER & WESTERN RR.— Boulder to Ward, Colo., 26
miles; Sunset to Eldora, 20 miles; branches, 5 miles; total, 51 miles. Reaches
Denver Union Depot from Boulder over Colorado A Southern (third-rail)
V. 80, p. 650. Successor to Colorado & Northwestern R R . sold In fore
closure March 29 1909 to the bondholders’ committee.
V. 88, p. 944.
Stock, $300,000, all outstanding; par $100. Of the bonds ($800,000 auth.
Issue), $100,000 are reserved for extensions, Improvements, &c. They are
entitled to Interest up to 5% If earned, payable Sept. 1 beginning 1910.
Year ending June 30 1908, old company, gross, $84,187; net, $11,101; Int.,
taxes. Ac., $53,801; bal., def., $42,700. Pres, and Treas., W. B. Hayes;
Sec., C. M. Williams. Office, Boulder, Colo.— (V. 89, p. 41.)
DENVER NORTHWESTERN* PACIFIC RY.— Building from Denver to
Salt Lake, about 575 miles, along a line about 100 m. south of the Union Pac.
and 125 m. north of the Denver A Rio Grande. In 1905 110 miles, Denver
to Sulphur Snrlngs, Col., were opened. Extension from Sulphur Springs to
Steamboat Springs, 1 0 ' m.,.completed Nov. 1 1 0 0 8 , the last-named point
being 364 m from Salt Lake. See V. 75 p.28i>; V. 78, p. 1108; V. 80, p.
1362; V. 80. p. 167. N. W. Term. R R . proposed to build terminals In
Denver. In May 1008 $1,800,000 Northwestern Term. R R . bonds were
reported as sold, but none Issued to Sept. 1908. V. 86, p. 1284. V. 79,
p. 1704; V. 81, p. 1315; V. 82, p. 1211, V. 80. p. 1284.
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 of the $22,500,000 4 % bonds. V. 75, p. 1147; V.79, p. 102
Outstanding April 1 1909, $5,450,000 each of com. and prcf. stock and
$10,900,000 bonds. Of the bonds, $8,000,000 are deposited as collateral
for $4,000,000 6% 2-year notes of the Colorado-Utah Construction Co.
(which Is building the road), dated May 1 1909, redeemable at 101, and
guaranteed, prln. and lnt., by Pres. D. H. Moffat: Interest payable quar
terly (Q.-F.); Central Tr. Co., N. Y ., trustee: denominations $5,000, $10,
000, $25,000 and $50,000 each. V. 88, p. 1127, 1061. The bonds of the
4
M
A
\
J
950 ,000 5 In 1909 r
,r
1 ,0 50,000
4 g
j
1 ,2 50,000
4 g
1901
1,000
4 ,4 9 5 ,0 0 0
1005
1,000
4 ,2 5 3 ,0 0 0
1905
1,000
2 ,7 7 6 ,4 0 0
1905
1,000
5 ,5 0 0 ,0 0 0
1905
1,000
1,44 9 ,0 0 0
____
1,000
160,000
.000 n o t guara nteed
*4,224,921
5 g
6
6
M
4 g
j
4 g
4H g F
5
J
4H g J
4 « g A
S
Jan
Jan
Jun e
J u ly
D ec
Y J u ly
Apr
Jan
Mch
J u ly
1 1936
1 1936
1 1928
1 1940
1 1939
1 1939
1 1949
1 1017
1 1931
1 1028
A C o , N ew Y o r k N o v ’ 0 9 -M a y ’ 13
do
do
S e p ’ 09 Sep *17
1,000
Total net Incom e.............................. $18,930,191 $19,540,189 $16,089,812
Interest and rentals________________ $5,160,140 $5,309,958 $5,368,196
Rentals, advances, & c _____________
29}*??S
.
„ 242,926
Renewals and betterments_________
2,781,603
3,820,088 5,551,619
Dividends (1 0 % )................................. 2,620,000
2,620,000 2,620,000
2,020,000 2,620,000
Extra dividend (1 0% )......................... 2,620,000
R a te
%
1903
1907
..................... $32,898,495 $37,264,473 $32,962,879
Gross '
.
Net after t a x e s ................................... $13,249,939 $14,375,034 $12,490,438
4 ,1 6 6 ,7 9 3
A m oun t
O u ts ta n d in g
$500 & c $33 ,717 ,00 0
6,38 2 ,0 0 0
8 ,3 3 5 ,0 0 0
500
1,000 X2,277,000
2 ,0 0 0 ,0 0 0
1,000
1,000 &c 15,19 0 ,0 0 0
1,000 A c 13,97 4 ,0 0 0
390 ,000
1,000
720.000
1,000
1,057,000
1,000
STOCK.— Stock was In July 1909 authorized to be Increased from $26,
200,000 to $30,277,000, to provide 15% stock dividend ($3,930,000) and
for merger of two subsidiary cos. V. 87, p. 41.
DIV’ US — I ’ 85. ’ 86 to ’03. ’ 04. '05. ’06. ’ 07. '08
1909.
Since ’ 81.% \ 87M 7 yearly. *17 *19 H *20 *20 *20 2 V, ,2 H , 62 H % , (.)
•The quarterly dividend was increased from 1 Vx to 2H % In April 1905;
an extra 10% was pal l In Dec. 1904 to 1908 Inclusive. In July 1909 a
special cash dlvl 'end of 50% was paid, one-halt being applicable, If desired,
to subscription of stock of new D. L. A W. Coal Co. selling agency; also
15% stock dividend, payable Aug. 2 1909. V. 89, p. 41, 2 .’4.
EARNINGS.— 11 mos., \1908-09__ Gross, $30,670,483: net, $13,807,484
July 1 to May 31.
/1907-08...G ross, 30,920,360; net, 12,852,897
ANNUAL REPO RT.— Annual meeting Is held on Tuesday preceding list
Friday In February. The report for 1908 was In V. 88, p. 558. Compari
sons with earlier years are Inaccurate owing to changes In method of ac
counting. The following includes all lines except Syracuse BInghamto i &
N. Y ., Sussex R R ., Bangor & Portland and Lackawanna A Montrose R R .
Y e a r e n d in a D e c . 31—
1908.
1907.
1906.
Passenger earnings
....................... $6,449,032
$6,757,596 $6,216,624
Freight e a r n i n g s .!:::::..................... 24,408,710 26.597,224 23,245,274
Miscellaneous__________ . . . . ______
2,040,753
3,909,653
3,500,981
Other miscellaneous Income________
B on d s— P r in c W
p a l. W h e n D u e
S to c k s — L a s t
D iv i d e n d
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f i r s t p a g e o f ta b le s. _______________
Coal d e p a rtm e n t ( n e t ) ..............................
[VOL. L X X X I X .
Y A u g 2 1909 5% .
Y Jan 1 1935
A p r 1 1935
& N C entral T r u s t C o N Y
A () N ew Y o r k a n d L o n d o n
do
do
& O
& J F a rm ers’ L A T r C o N Y
N ov
N ov
N ov
J u ly
1 1917
14 191
15 1918
5 1909 2 %
&
A
.T H K M c IIa r g N ew Y o r k J u ly 1 1909 2 X
D J P M o rg a n A C o N Y Jun e 1 1995
Jun e 1 1995
do
do
A
A
A
A
A
A
S W in d s o r T r u s t C o , N Y
do
do
D
A A u g ’ 07 c o u p last paid
1) D e c ’07 c o u p la st paid
D H B H o llin s A C o N Y
O M erc T r u s t A D ep C o Bal
A D
M ch 1 1941
D ec 1 1955
A u g 1 1980
D ec 1 1908
T o Jun e 1915
T o O ct 1 1012
Continental Tunnel Co., to construct a tunnel 6 miles In length through theContinental Range, 50 miles west of Denver ($5,000,000 auth. Issue), will
be guaranteed, prln. and lnt. V. 85, p. 1143. Pres., David H. Moffat;
V.-P., W . G. Evans; Treas., Thos. Kecly; Sec., F. B. Gibson.— (V. 88, p.
623, 1061, 1127.)
DENVER & RIO GRANDE RR.— ( S e e M a p ) . — ROAD.—The lines
owned and controlled are well shown on the adjoining map.
M ile s .
M ile s .
Of the preceding:
Road owned and operated___ 2,534
Rio Gr. Jc. R R ., Ac. (leased)..
70 Standard gauge.......................... 1.808
Narrow gauge o n ly ----------------- 795
82
Total June 30 1908................2,604 2d track....................... ...............
Rio Grande & Southwestern R R ., Lumberton Station,Col.,33 m. south
easterly, Is operated on basis of 25% of gross earns. V. 79, p. 907.
HISTORY.— Reorganization of a r a ilw a y company of same name fore
closed July 12 1886. On July 31 1908 the Rio Grande Western was merged.
V. 87, p. 226, 285. The Rio Grande Junction Is leased Jointly by this co.
and the Colorado Midland, and Its bands guaranteed. The Col. Midland is
controlled by parties Interested severally In the D. & R. G. and Colorado
& Southern. V. 70, p. 739. The Rio Grande Southern Is controlled.
The Missouri Pacific early In 1901 acquired $14,800,000 common and
$7,300,000 preferred stock, this, together with the Rockefeller Interest, It
Is understood, constituting a considerable majority of the entire stock.
V. 72, p. 338, 580, 1238; V. 73, p. 506.
Denver & Rio Grande owns two-tlilrds of the stock and has given a
traffic guaranty to the Western Pacific R y. (which see) to be completed
from Salt Lake City to San Francisco by Sept. 1909. V. 81, p. 845: V. 83,
p. 568. The stock ($200,000) of the Salt Lake City Union Depot & R R .
Co. Is equally owned by the D. & R. G. and Western Pacific, which guar
antee Its $1,100,000 first mortgage 30-ycar 5% bonds. V. 88, p. 232.
DIVS. Since '911 ’ 92. ’ 93. ’ 94. ’ 95. *96. ’ 97 ’98. ’ 99. ’00. ’ 01 to July’09
on preferred, % - /
0
2
0
0
2
2 2H 4
4
5 yearly
BONDS.— Consols of 1886 for $6,900,000 originally reserved for exten
sion to Ogden were available for capital requirements, of which part Issued.
V. 73, p. 507. See abstract of mortgage In V. 47, p. 228.
The im p r o v e m e n t m ortg a g e abstract was In "Chronicle” , V. 47, p. 229.
Abstract of R. G. W. 1st mort. was In V . 49, p. 237, and statement to
N. Y. Stock Exchange, V. 50, p. 73; also V. 60, p. 284. Utah Fuel 1st 5s
of 1931: see application to list, V. 78, p. 1171, 1178, 1548, 2015.
The Rio G.W. fir s t c o n s o l. 4s of 1899, sec application to list In full.
V. 72, p. 537. V. 72, p. 775, 1180. List of coll. June 30 1008, V. 87, p. 620.
The stockholders voted July 23 1908 to merge Rio Gr. West, and on Sept.
10 to make a refunding mortgage dated July 1 1908 covering the con
solidated properties to sccure'an Issue of $150,000,000 bonds, of which $90,
000,000 will be reserved to retire underlying bonds and the remaining $60,
000,000 will be available for other purposes. The bonds are redeemable at
105 to Aug. 1 1913 and 110 thereafter. In Nov. 1908 $17,500,000 of the
bonds were sold and in Feb. 1909 $5,000,000, the bankers having an option
on $6,000,000 additional. V. 87. p. 1419. In addition to a lien on the
D. & R. G., the bonds are secured by two-thirds ($50,000,000) of the stock
of the Western Pacific and all the outstanding 2d M. bonds on the latter
($17,130,000 In Jan. 1909). V. 86, p. 1224, 1284. 1529; V. 87, p. 226,
285. 544, 741, 1419; V. 88, p. 100, 230, 294, 504, 822.
L A T E S T E A R N I N G S .— F ro m J u ly 1 t o M a y 3 1 , 11 m o n th s :
It M o s .—
G ro s s .
N et.
O th . I n c .
C h a r g e s.
B a l.,S u r .
1908-09____ $18,995,804 $5,126,508 $798,536 $3,533,331 $2,391,713
1907-08____ 18,794,133
6,089,326
688,633 3,662,594
3,115.365
ANNUAL R E P O R T . — Report for 1907-08 In V. 87 p. 611, 618, In
cluding the Rio Grande Western. See p. 575.
In c. (+ ) or
1907-08.
1906-07.
D e c . (—).
mo :'? !
Other Income.
.
$6,597,151
597,149
. $7,104,300
. $3,293,029
47,303
Rental of road, yards, terminals, A c..
317,233
. 2,288,070
120,000
Renewal fund...................................... .
231,393
Appropriations for betterments------Appropriations for new equipment..
. $6,297,028
$896,373
R E S U L T S F O R P R E V IO U S
« o .IS|:||8 - w o . g
‘ So:’ "
~ - z« m
$7,153,970 — $556,819
520,950
+ 67.190
$7,683,020 — $489,629
$3,210,584
+ $83,345
77,276
— 20.073
219,273
+07,060
2,286,853
+ 1,217
120.000
700,000 — 468,607
825,000 — 825,000
$7,438,986--$1,141,058
$244,944 + $851,429
Y E A E S — OLD B A S IS .
Y e a r e n d . J u n e 30—
1907.
1906.
1905.
1904.
Average miles operated.
2,500
2.477
2.420
2,308
Gross earnings............... $21,409,042 $10,686,115 $17,031,507 $16,446,434
Net earnings__________ 8,156,930
7,581,943
0,862,547
6,387,991
Other Income................
243,379
262,124
192,133
214,345
OFFICERS.—Chairman of Board, George J. GoUldj Pres., E. T. Jeffery;
VIce-Pres., Chas. II. Schlacks; Treas., J. W. Gilluly; Sec. and Compt.,
Stephen Little. Office, 105 Broadway, N. Y.
Directors—George J. Gould, Winslow S. Pierce. E. T. Jeffery, Edwin
Gould. Howard Gould. A. H. Calef and Arthur Coppell, New York; Charles
II. Schlacks and Joel F. Valle. Denver, Colo.— (V. 88, p. 294, 504, 822.)
DES MOINES & FORT DODGE RR.— (Set* M a p M i n n e a p o l i s it S t.
L o u is .)— Owns Des Moines to Ruthven, la., 137.01 m.; at Ft. Dodge, la.,
0.61m .; trackage, Tara to Ft. Dodge, 6.07 m .iand Spencer to Ruthven,
12.45 m.; total, 156.14 m. In 1904 Mlnneap. & St. Louis acquired $2,530,OOOof the outstanding $4,283,100 com. stock,and guarantees the $3,072,000
Sault Ste.Marle
8adborj
SooJo.
Maobtlque
Pembloe
Rhinelander
mm)
VV;Aft
^ v 'i Q K O l A J s M
Preulicc
oDtlot^
irnii.-ttr
Wnusauf
Parry Sound
Alpena
Eland
.Abbottjford
8tevcu* Point
Centralis
jHRouQH
fftwyort /5vrr»vcr»/cltJ
f n u\jt o
Oscoda
Ureeu But
Walton
lieuasha
j'
«
litowoc"
Princeton
Cloud
//
a
Milwaukee
Jaucsvil
Moocr"
'Morrialoi
Grand Haljeo^
U«K»lbJo.
Newton Falls.*'
/‘hiladclpbl
Clajton
^Cape Vincent
i Harbor
'1
'Puljob Chsjnw
.Richland
Campbellville'
i s . G» " J ^
Northville
s u n ^ ji
Qlcncoo
Dresden
bCanflfld
South Ha\
Benton Hi
Rochello
doperstowp
I
^Aurora
Joliet^
McndotiT
<^\CAuh/aw?|
Valparais^
*\*V
Khlxiebccl
L-ucevilie
Port Allegheny
<le*burA 7/ChmicOthe
'roughkcypjle
’Barclay
'Paxton
floomlagtpn^e
Kokomo
Marlon
i Chan,palg
'PaasllliL.
^Lincoln
iMuncie
5 .11
JfMSll
Columbus
tnOh^ny*/! ' V
.Butlel
Canal
Wellsville|
Patton
Zanesville
/
Jtcubcuvill
pxington'
Altoona-:
tushvillc|
Grepnsburg
Connellsvillo
Icfalllleotl
Hamlhon
farlctta'
Altamont
Vanda
Pomeroy
Vinccni Wauhlngton
8haw
t
lMaysvilleJ
’hiladclpl
Columbia
UniontowD
Tork
fLonlsvjlle
/SbclbyvIlhB^'v
'EvanavUIe
.Ashland
fcVVinslow
Fairraont
\Orafton
'Hontingt
Charleston
'HewAlbany"
Carbendalo
' Cobden
Parkersburg
VTremlot
Middletown.
Portsmoslli $
Gallipolb |
Flora
El Dorado/
rtBumberJand
S
3 Jis-w”"J.:'2»8eiia*^Grr?rri
'Huntingdon-'*
Johnstowh
Xharlesto j
S^CBtozII
(Torre Haul
—~ J _ ? A danbury
Driftwood
y^>Jersey Shore*
"Brookrill;
.Vernor
Springfield
1
Nika
(cun stor
/Keaton,'
Bellcfoctalne
Crawfordsv/lie'
^ NewlCastle
8
i*; >. v-
Glim m
[Peoria
pnrtu\\.
%-V
>
rFLEdwJt
opherry Yal.
/Tot»cy'\f<. tvQOv^-i
ffCoopcrut^wt^^ir^ Albun>’
\hortll A«1;.UI«
' ^^^Cohlenkin
t ° Mid
WlOH-
Dixon'
/Mollne
Bristol
Lowvilla
fiMUlt CJtAAO
-
Lapeer
msiug
Burlington<
Edwards
'Kingston
,N.Hastings Jc.
Mcvil’r
>rvntO
Stratford
L u r a n /Q
Beloit
Clinton|
Kemptville
Brockville
,Harrlston*
f
Racine
rvW
ockford
C irictoo PlaceV
Smith* Fall/]
# * m i fifes?Lbtowel P^lnx-noon' A’.touNs. /Aurora^
[Big Rapids
.MnsSiCiron'S
Dodgeville
U.Jobcs
Connections
'Pcterl
Ban*
SuHyacintb
ini prior
Orangeville \
ih'fbojpior;
f
Southunijjoji^
\
i
Cadillac
.Calumetl_J
AW ARE
f ACKAWANNA
^ W e s t e r n -»
l^AILROAD
JNorth Bay
Trout Lake
JhgvUa
Baltimore
Suttoni
tardstown Jo.
Gaulcy
Alexandri
Harrlnttouet
RAILWAY STOCKS AND BONDS.
50
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
M iles Date
of
of
Road Bonds
F o r explanation of column headings. A c . see notes
on first page of tables
D et & T ol Sh L— 1st M $ 3 ,0 0 0 ,0 0 0 g gu p & l.M e .c * & r
D ov er & R o c k a w a y — S t o c k 6 % ren tal 090 y e a r s..........
B S b & S io u x
C en t W lines 1st M g - - U s .c* & r
I o w a F a lls & S io u x C ity 1st M I o w a F alls to S lo u xC y
C h er & D a k C R & C a n d O m a h a D lv & c llrst m tge
D u lu th & Iron R a n g e— F irst m o r tg a g e .............iH p.c& r
S e c o n d M c u w e n c y red eem a t 105 $ 5 ,0 0 0 ,OOO.Ce.c*
Duluth M ls s a b e & N orth ern — First m o rtg a g e g o ld s 1
F irst c o n s o l m tg e $ 3 ,5 0 0 ,0 0 0 g o ld ca ll a t 105
„C e
G en eral m o r tg a g e g o ld s i , r e d 1 0 5 ................ . - - N x c *
Dul R L & W in — lstM $ 2 ,0 0 0 ,0 0 0 g red 105 b e g 1 1 -I C .c *
D u lu th So Sh & A tla n tic — M arq H & O n gen M - —’
D u lu th S o u th S h ore & A tla n t ic 1st M g o ld .C
F ir s t c o n s o l m tg e g o ld Interest g u a r------ C c .I n c o m e ce r ts ($ 3 ,0 0 0 ,0 0 0 h e ld b y C an P a c J u ly ’ 08)
C a r tru sts g u a r b y Can P a c (d u e m o n t h ly )--------------do
g u a r b y C an P a o (d u e $1 7 ,0 0 0 y e a r ly ) -
do
do
d o ___________________
Dutchess County RR— See Central New England R y .
East Alahanoy RR— Stock....................................
East Tenn & VV No Car— 1st M g (V 81 p 1723) GuP c*
Eastern Ry of Alinnesota— See Great Northern
48 1903
218
184
328
210
210
65
130
215
130
588
588
30
;
Size, or
Amount
P ar
Outstanding
Valu
$1,000
100
1,000
500 Ac
1895
1869
’88-00
1887 1,000 &c
1896 1,000 Ac
1802
1893
1,000
1,000
1906
1906
1,000
1885
1,000
1887
1,000
1890
1,000
1892
1906
100 Ac
1007
1009
1,000
1005
1005 1,000 Ac
J & D 15 R e a d in g T e r m
do
A J
J
do
M & S
5
6
4g
34 1905
1,000
500,000
5g
M
&
3,000,000
1,000
2.000,000
1,000
372,000
1,000
2.500,000
1,000
3.000,000
1,000
240,000
1,00C
1,00C 10.000,000
500,000
1.00C
500,000
5C
500,000
5C
063,000
1,00(
son
570.000
5g
5g
5g
5g
5g
5g
5 2
5 e
5
7
6
ft
A
A
A
&
&
J
&
13V2
73
73H
1860
1863
DETROIT GRAND HAVEN & MILWAUKEE RY.— (See
M a p G ra n d
T ru n k , I i u . ) — O w ns from D e tr o it t o G ra n d H a v e n , M ic h ., 180 m iles.
A re
org a n iz a tion o f S e p t. 1878. T h e prin cip a l an d Interest on the b o n d s are
gu a ra n teed b v the G rand T ru n k o f C a n ad a. S t o c k . $ 1 ,5 0 0 ,0 0 0 : p a r , $50.
R e a l esta te b o n d s o r m ortg a g e s, $2 2 6 ,0 0 0 . O n Ju n e 30 1008 s u n d ry o u t
s ta n d in g a c c t s ., $ 2 ,7 5 1 ,6 4 8 .
G ra n d T ru n k o f C anada ow n s entire s to ck .
E A R N I N G S .— 11 m o s ., (1 9 0 8 -0 9 ..............G r o s s , $ 1 ,5 3 4 ,4 2 1 ; n et, $280,416
J u ly 1 t o M a y 3 1 .
1 1 9 0 7 -0 8 _______ G ross, 1 ,585,849; n e t, 200,333
Y e a r en d in g Ju n e 30 1908, gross, $ 1 ,7 0 4 ,8 3 4 ; n e t, $ 2 2 0 ,8 1 °; charges,
$41 9,31 4; b a l ., d c f ., $ 1 0 8 ,5 0 5 .— (V . 8 2 , p . 086, V . 8 8 , p . 1620.)
DETROIT HILLSDALE & SOUTHWESTERN RR.— O w ns Y p s lla n ti,
M lch ^ t o B a n kers, M ich , 65 m . L ea sed In p e rp e tu ity J u ly 1 1881 to the
L a k e S h ore & M ich . S ou th ern R y .; re n ta l, $54 ,000 p er y ear— 4 % o n s to c k .
DETROIT MACKINAC & A1ARQUETTE RY.— S E E M ISC . CO S.
nFTROIT & AIACKINAC RY. — O w ns fro m B a y C ity , M ic h ., t o C h e b o y
gan
m‘ : R o s e C ity B ra n ch . 31 m .; P re s co tt B ra n ch , 12 m .; L in coln
B r a n ch , 14 m .; A u G res B r a n ch , 8 m .; lo g g in g b ran ch es (largely t e m p o r a r y ),
87 m : to t a l, 348 m . In 1907-08 fo re s t p r o d u c ts fu rn ish ed 4 9 .1 6 % o f trafflo . I n 1002 H e n r y K . M c H a r g a n d associa tes a c q u ir e d c o n tr o l.
B O N D S .— "M o rtg a g e b o n d s ’ ’ fo r $ 50 0,00 0 w ere reserved fo r b etterm en ts
A c .. a t n o t o v e r $50 ,000 per y e a r. V . 7 4 , p . 629. In a d d itio n t o the
a m o u n ts sh ow n a b o v e as o u ts ta n d in g , $45 0,00 0 "fir s t lien” and $300,000
“ m o r tg a g e ” b o n d s w ere on Jun e 30 1008 held In the treasu ry. E q u ip m e n t
n otes (5 s ), $ 8 0 ,0 0 0 , d u e $6,667 m o n th ly to J u ly 1910 Inclu sive; loans and
bills p a y a b le Ju n e 30 1008, $19 5,00 0.
S T O C K .— T h e ca p ita l s to c k Is $ 3 ,0 0 0 ,0 0 0 , o f w h ich $2 ,0 0 0 ,0 0 0 co m m o n
an d $1 00 0 ,0 0 0 5 % n o n -c u m . preferred. See V . 7 4 , p . 629 . D lv . on p r e f..
2 H % J u ly 1 1903; sln ce t0 J u ly 1000,
y e a rly .
L A T E S T E A R N I N G S .— (1 9 0 8 -0 9 -------G ross, $ 1 ,0 5 1 ,7 6 9 ; n e t, $245,297
11 m o s ., J u ly 1 t o M a y 3 1 . \ 1907-08____ G ross,
1 ,0 8 6 ,4 8 8 ; n e t,
267,968
E A R N I N G S — R e p o r t f o r y e a r e n d in g Ju n e 30 1908 w as In V . 87, p .
1233 s h ow in g , gross, $ 1 ,1 8 6 ,0 9 6 ; to ta l net In co m e , $39 7,04 5; ln t ., taxes,
& o.. $ ^
; eq u ip .’ a n d Im p ’ ts, $11 7,24 6; p re f. d lv . ( 5 % ) , $47 ,500 ; b a l..
d e f ., $ 2 1 ,4 0 9 . 190 6-0 7, gross, $1,3 1 1 ,2 7 4 ; n e t, $ 3 0 1 ,1 8 2 .— (V . 8 8 . p . 100.)
DETROIT TOLEDO & IRONTON RY.— O perates ro a d fro m D e tr o it,
M ic h ., t o I r o n t o n , v ia L im a , 384 m ., Inclu din g 46 m . o f track age: b ra n ch e s,
K in g m a n t o Seda lla, O ., 31 m .; J a ck son to C ornelia, 10 m ., an d Llsm an
J o t. t o D e a n , O .. 3 m .; t o ta l. 435 m .; coal m in e tra ck s, y a rd tra ck s and
sidin gs, 136 m . O u tlet fo r b itu m in o u s co a l o f S ou th ern O h io .
In June
1905 a cq u ired co n tro l o f A n n A r b o r R R . V . 8 1 , p . 264; V . 8 2 , p . 509.
O R G A N I Z A T I O N .— S u cce sso r, p e r plan V . 8 0 , p . 650 , o f D e t. S o u th .
R R . fo re c lo s e d , s u b je c t t o O h io S o u th , m tg e . V . 8 0 , p . 234 4, 1856.
R e c e i v e r s h i p .— In F e b .
G eo. K . L o w e ll, B e n ). S. W arren a n d T h o m a s
D . R h o d e s w ere a p p oin te d rece iv e rs, th e Interest o n th e co n s o l. 4 )^ s due
F e b . 1 1908 b e in g In d e fa u lt. T h e Interest o n O h io S o . d lv . bo n d s and on
th e d iv ision a l an d gen . lien 4s has been p aid p r o m p tly . O n F e b . 25 1908
$ 3 0 0,00 0 r eceiv ers ’ certfs. w ere a u th o riz e d h a v in g a Hen Junior to the O hio
S o . d iv isio n a n d d iv ision a l a n d gen . lieni 4s; $ 2 0 0 ,0 0 0 , bearin g Interest a t
6 % , w ere ou tsta n d in g Ju n e 1 1909. V . 86,, P. 546, 602.
C o m m itte e f o r C o n s o l. 4 U s .— R u ssell H a rd in g , C h airm an; H e n ry V . P o o r ,
S e c .; C en tral T r u s t C o ., d e p o s ita r y . V . 86, p.
.
C o lla ter a l T r u s t N o te h o ld e r s ' C o m m itte e s .— J o s e p h R a m s e y J r \ Is C h airm an
o f on e c o m m itte e , W a lter L . W o rra ll. S e cre ta ry : N ew Y o rk T ru st C o. d e
p o s ita r y . I n N o v . 1908 a b o u t $ 3 ,6 0 0 ,0 0 0 o f the $5 ,5 0 0 ,0 0 0 o u tsta n d in g
n otes w ere o w n e d o r con tro lle d b y the co m m itte e . V . 86, p . 3 3 7 , 420,
480. 546, 602 , 1589; V . 87, p . 166, 285, 544, 1300.
A n oth er c o m m itte e (E . R ollin s M orse, C hairm an; W in d s o r T r u s t C o .,
N ew Y o r k , d ep osita ry) In N o v . 1008 o w n e d o r co n tro lle d a b o u t $1 ,7 0 0 ,0 0 0
n o te s .
V . 8 6 . p . 602, 1343; V . 8 7 , p . 166. 226 , 544. 013, 677.
S to c k h o ld e r s ' C o m m itte e .— W illa rd V . K in g , E v an s R . D ick an d E . L
O p p en h elm (C olu m b ia T ru st C o ., N . Y . . d e p o s it a r y ). V . 80, p. 704.
P r e f . S to c k h o ld e r s ' C o m m itte e .— A le x a n d e r J . H e m p h ill, C h airm an; E d gar
O. H e b b a r d , S ec. (G u a ra n ty T r . C o .. N . Y . , d e p o s .).
V . 86, p. 1409, 1529.
N O T E H O L D E R S ’ P L A N .— I n N o v . 1008 th e R a m s e y c o m m itte e cam e
t o an a greem en t w ith th e M orse (o r H ollins syn d ica te ) co m m itte e , look in g
t o an e x ch a n g e o f the c o m m itte e ’s Interest In the p led ged D . T . & I . consols
fo r the s y n d ic a te ’s Interest In the A n n A r b o r p re f. a n d c o m . s t o c k . See
circu lar In V . 87, p . 1 30 0. T h e sale o f th e collateral fo r the n otes was ad
Journed Indefin itely In Jan . 1909 b y reason o f a te m p o ra ry in ju n c tio n .
In
J u ly 1909 reorga n iza tion w as d e ferred p e n d in g litig a tio n as t o v a lid it y o f
certa in co n s o l, m tge. b o n d s.
V . 80, p . 224.
Where Payable, and by
Whom
Bonds— P rin ci
pal. When D u e
Stocks— Last
Dividend
%
&
J Mercantile Trust ol N Y Jan 1 1953
4g
2,288,000
& O 143 Liberty St New York Apr 1009 3%
6
140,000
Olllce 115 B’way N Y Aug 1 1051
&
A
5,425,000
4e
Oct 1 1017
do
do
& O
7
2,800,000
8,030,000 Illinois C entral bo nds or collateral therefor
A & O Office Empire Bldg N Y Oct 1 1037
5
0,732,000
Jan 1 1016
do
do
&
6
See text
Jan 1 1022
&
6g
1,174,000
Central Trust Co N Y Jan 1 1023
&
6g
1,034,000
Company’ s office N Y Jan 1 1043
&
0,274,000
5g
& Chase Nat Bk N Y: &Ch|c Jan 1 1016
5g
2,000,000
44 Wall Street New York Apr 1 1025
&
6
1,077,000
Jan 1 1037
do
do
&
3,816,000
5e
Aug 1 1090
New York or London
&
15,107,000
4e
Dec 31 1012
Montreal, Quebec
4
3,000,000
To Jan 1011
J & J
59,856
4^
To
June 1912
J & D 15
5
115.598
Mch 1 1914
4H M & S
198,000
July
1 1035
Merchants’
Trust
Co
Ban
J
&
J
5
g
300,000
54,000
5 g M & N Standard Trust Co N Y May 1 1055
497,750
1,048,300
495,000
4
25 08
When
Payable
50
50
1,000
first m tg e . % g o ld b o n d s Issued t o retire all th e o u tsta n d in g b o n d s .w hich m a
tu red Ja n . 1 1905: the M in n. & S t. L ou is leases the ro a d fo r 30 years fro m
Jan 1 1905: all In com e o v e r ch arges. Im p ro ve m e n ts, & c.. to be p aid to
lessor. V . 7 9 , p . 268, 1704, 2085. F orm o f g u a r a n ty , V . 7 9 , p . 2696.
P referred s to c k Is en titled t o 7 % . n o n -c u m u la tlv e , then c o m m o n t o 7 %
a fter w h ich b o th share e q u a lly .
T h e sto ck h o ld e rs Ju n e 8 1006 au th o rize d $1 ,0 0 0 ,0 0 0 se co n d m o rtg a g e
b o n d s , o f w h ich $60 0,00 0 w as used t o p a y floatin g d e b t Incurred fo r Im
p ro v e m e n ts an d r e fu n d in g , th e c o m m o n s to ck be in g raised fro m $4 ,2 8 3 ,1 0 0
t o $ 5 ,3 3 5 ,6 0 0 a n d th e p r e f. fro m $ 76 3,50 0 to $ 1 ,1 6 4 ,0 0 0 . V . 82, p . 1322.
D IV ID E N D S — .
1 ’ 03. ’ 04. ’ 95. ’ 96 to ’ 98. *00 to ’ 03. ’ 04 t o ’ 09.
2
4
4
6 y ’ r ly .
7 y ’ rly .
5 y ’ rly .
O n p r e f e r r e d ................. % ]
P r e s .. E d w in H a w le y : V lc e -P r e s ., L . F . D a y ; T r e a s ., F . H . D a v is: .Sec.,
W . S . C ran d ell. R e p o r t f o r y e a r e n d in g D e c . 31 1908 In V . 8 8 , p . 1615,
s h o w e d gross earn in gs, $ 5 2 9 ,0 7 1 ; n e t, $ 1 5 9 ,9 4 9 : ta x e s an d Interest, $17 3,28 0;
d e fic it, $ 1 3 ,3 3 1 .— ( V . 8 8 , p . 1 43 6, 1615.)
DES AlOINES UNION RY.— T erm in a l ro a d In D es M oin es; ow n s 4 m iles
m ain tr a c k an d b ra n ch es, 14 m iles 2d an d side tra ck s, bridge across D es
M oin es R iv e r an d 25 acres o f land In D es M oines. See statem en t t o N . Y .
S to ck E x ch a n g e In V . 65, p . 1173. L ea sed to W a b a sh R R . , C h icago G reat
W e s te m C h K n w
& S t. P . R y ., C h ic. B u rl & Q u in cy R R
D es M oines
Io w a F a lls & N or’ n R y . an d M in neapolis & S t. L ou is R R . V . 7 5 , p . 342.
R e n ta l eq u a l t o expen ses an d fixed charges p aid m o n th ly b y lessees on
w h eela ge basis. S to c k a u th .. $ 2 ,0 0 0 ,0 0 0 : o u t ., $ 40 0,00 0; par, $100. Y ea r
1 9 0 7 -0 8 , gross, $32 0,80 8; n e t. I n c ., $14 1,46 0; charges, $ 6 3 ,0 6 3 .— (V .8 6 ,p .3 3 7
105
Rate
36
36 1888
165 1897
1001
31 1808
128 1901
133 1901
—
1905
181 1801
34 1884
First mortgage.
[V O L. L X X X IX .
A
J &
J &
J &
M A
J &
M A
J
A
A
A
P h lla P a Ju -el5 1900 2 H
do
July20 1000 3%
Mch 1 1958
do
N G u ar T r & S D C o P h lla Nov 11035
O T ru st C o o f A m e r ic a N Y
do
do
O
do
do
o
do
do
J
do
do
J
do
do
J
N 71 B r o a d w a y N ew Y o r k
J N at Bank or C om m N Y
N B r o a d S t S ta tio n P h lla
do
do
J
do
do
J
do
do
O
Oct 1 1047
Oct 1 1051
Aor 1 1028
Jan 1 1051
July l 1951
Jan 1 1016-1035
May 1 1941
July 1 1924
May 1900
July 1009
Jan 1 1010
Oct 1 2862
BONDS.— Gen. lien and dlvis. 1st 4s are secured by mort. on entire sys
____
tem. including future property, except Toledo terminal.
The consol. 4 'A s cover the whole system and are also a first lien upon the
stock of the Toledo Southern R R .
, ,
„ .... _nA
The 5% notes of 1905 ($5,500,000 Issue) are secured by $3,001,000
Ann Arbor preferred and $2,100,000 common stock and $5,000,000 Det. T.
& I consols V. 80. p. 2457, 2620; V. 81, p. 155. Loans and bills payaole
June 30 1908, $565,651.
EARNINGS.— 11 mos., 11908-09...........Gross. $1,400,738; net, $150,137
July 1 to May 31.
J1907-08______Gross, 1,511,846; net,
24,768
REPO RT.— For year ending June 30 1908 In V. 87, p. 1294.
Y ear
E n t i r e S y s te m (.in clu d in g A n n A r b o r ) .
G ross.
N et.
O th .in c . C h g s .& t a x e s .
1907-08 ............. $3,871,964
1906-07 ............. 4,208,925
$1,077,695
1,320,320
D e tr o it T o le d o A
$30,040
29,137
B a la n c e .
$1,366,806$259,071
1,343,6385,820
I r o n to n P r o p e r .
1007-08 ......... ..$1,020,670
$551,674
$432
$950,380def.$398,274
1906-07 ............. 2,116,400
553,462
1,553
026,683 del.371,623
Interest charge Includes yearly $275,000 Interest on collateral trust notes
Issued for Ann Arbor stock. See V. 83, p. 1034.
Pres., Eugene Zimmerman; Sec. and Treas., G. Casper Niles: Office;
Detroit.— (V. 87. p. 1533, 1664; V. 88, p. 100, 231; V. 89, p. 224.)
DETROIT & TOLEDO SHORE LINE R R — Extends from Toledo to
(suburbs of) Detroit, 47.6 m.; 2d track. 20 m.; sidings, 3 m.; trackage over
Toledo Ry. & Term. Co., &c., 31 m.; total track. 101.6 m. V. 78, p. 2508.
The Grand Trunk Western Ry. and the Toledo St. Louis & Western RR.
own the entire $1,428,000 stock and Jointly guarantee the bonds, principal
and Interest, by endorsement. See form of guaranty, V. 76, p. 6o3. The
unissued bonds are reserved for extensions and Improvements. First divi
dend, 4% , paid from earnings prior to June 30 1908. V. 87, p. 1237.
E A R N I N G S . — 11 mos., 11908-09______Gross, $713,651; net. $298,844
July 1 to May 31.
J1907-08---------Gross, 821,064; net, 424,998
Year ending June 30 1908, gross, $878,421; net Income, $401,583; Interest
on bonds, rentals, &c., $293,583; Improvements, $21,070; dlvl ends (4 % ),
$57,120; bal., sur., $29,801. Pres., T. P. Shonts.— (V. 87, p. 1237.)
DUBUQUE & SIOUX CITY RR .— (See M op o f .I l l in o i s C e n tr a l.) —Owns
Dakota,
______________________________________
near Ft.
Dodge,’ fa'T to Council Bluffs, 130 m.; total owned, 730 miles.
ORGANIZATION.— Controlled since April 1887 by the Illinois Central
R R . which owns nearly all the $15,000,000 stock and has Issued Its own
bonds on the road; the only D. & S. C. bonds held by the public are the Iowa
Falls & Sioux City 7s, $2,800,000. Lease, V. 70, p. 1274.
DIVIDENDS SINCE 1800.— 1900, 3 % ; 1901. 1M % : lO?2- 1% ; 1906.
I H % : 1907, 4% ; 1 0 0 8 , June 30, 1H %*— (V. 70, p. 1200.)
DULUTH & IRON RANGE RR.— Owns Duluth to Ely. MJnn.,1 1 7 . 2 2 m .;
Tower Jet. to Tower, 1.40 m.; Allen Jet. to Virginia, 25.31 m.. MoKlmey
to Bveleth. 8.83 m.; Waldo to Drummond, 1 5 . 0 2 m.; branches and spurs,
56.03 m.; trackage to Union Depot, Duluth, 0 . 6 0 m .; total, 22^’®^0mUea*
Owns ore docks and yards on Lake Superior costing over $l,500,uuu.
STOCK, Ac.—Stock, auth., $10 ,000,000: out., $3,000,000. Federa
150%; 1005, 65%; 1006, 40%; 1907, 80%; 1908, 80%.
terments. $ 21 7,18 3; bal., sur., $ 2 .0 6 4 .7 6 2 .— (V. 79. P -2 0 8 0 .)
t DULU-THMISSABE & NORTHERN
1008
337
b°fnai 003-04
aurplusaridlnSept.
E^n 1 v 1 to
{ l 9 0 7 - 0 8 l . — Gross, 8,389,281; net, 5,175,910
For vear ending June 30 1908, gross, $9,305,249; net, $5,295,986: other
I n c o m e ! a n d sink funds.|72»’ 6^7: tol stjr. $4 854,977. In
1906-07 gross, $10,981,893; net, $6,328,580. (V. 80. p. 224.
DULUTH RAINY LAKE & WINNIPEG RY.— Completed April 1008
from Vlrg " a Minn north to connection with Canadian Northern at InternaUonaf Falls’, 08 mHes. giving that road accessto DuHnh and £ wo Harbors.
Canadla^Northern^pu^clmsc^ the entl’rc%2,o6o.OOO stock, the Duluth
Winnipeg & Pacific Ry. being Incorporated In Mch. 1900 with $6,000,000
auth stock to control the Duluth R. L. & VV. Ity. and build an extension
from"Virginia Minn to Duluth, 75 m., and branches and spurs for Indus
trial* and mining purposes; also docks at Duluth, where valuable sites for
terminals have already been secured. V. 87, p. 1605, 1661, V. 88, p. 563,
62The8vireln5ia’& Rainy Lake Co., which formerly owned the road, guarant e e ? t h e I n V e r e s t o n t K d s . Sinking fund yearly, beginning Mch 1909.
amounting to two-thirds of net earnings. V. 81, p. 5o8. 613, 1848, V. 82,
p. 751; V. 84, p. 158; V. 85, p. 1518.
J u l y , 1909.]
R A ILW A Y STOCKS AND BONDS
Id
RAILWAY STOCKS AND BONDS
52
[VOL. L X X X IX .
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . . s e e n o tes
o n f i r s t p a g e o f ta b les
M ile s
of
R oad
D a te
of
B onds
S iz e, or
Par
V a lu e
R a te
%
A m oun t
O u ts ta n d in g
85
$50 $ 2 ,0 0 0 ,0 0 0
Erie A P itts b u r g h — S t o c k 7 % ren tal 999 y rs P en n Co
1,420,750
85
50
S pecial gu a ra n teed b e tte r m e n t s to c k $ 2,500,000
4 ,3 0 2 ,0 0 0
85 1890
1,000
G eneral m tg e (n ow first) $ 4 ,5 0 0 ,0 0 0 g o ld gu ar
Un
._
100 112 ,378 ,90 0
Erie R a ilroa d — C o m m o n s t o c k $15.1,000,000 a u th ------.
_
100 1 6 ,000,000
S e c o n d p ref s to c k 4 % n o n -cu m redeem a t p a r ------—
...
100 4 7 ,8 9 2 ,4 0 0
F irst p r e f s to c k 4 % n o n -c u m . red eem at p a r — - - a — o l d B o n d s A ssu m ed — R o a d s C o n so lid a te d
2.4 8 2 ,0 0 0
447 1847
1,000
N Y A E rie 1st M P lerm t o D u n e x t 1897 g o l d - . c *
2,1 4 9 ,0 0 0
447 1849
1,000
S e c o n d m ortg a g e (e x te n d e d In 1879) g o ld -------c*
4 ,6 1 7 ,0 0 0
447 1853
1.000
T h ir d m ortg a g e (e x te n d e d In 1883) g o ld .............c*
2,9 2 6 ,0 0 0
475 1857
1,000
F o u rth m o r tg a g e (e x te n d e d In 1880) g o ld -------c*
709 ,5 0 0
475 1858
500 A c
F ifth m o rtg a g e (e x te n d e d In 1888) g o l d - .......... c*
182 ,400
60 1861
200 A c
E rie R y 1st M B u ll Br H orn e llsv to A t t ic a g o l d - - c *
526 1870
1,000 1 6 ,891,000
F irst c o n s o l m tge $ 30 ,000 ,00 0 g o ld $ o r £ - - F . c * c
3 .6 9 9 .5 0 0
526 1878
500 A c
N Y L E A W e s t first con s m tg e g o ld ---------------------c*
2 ,3 8 0 ,0 0 0
140 1876
1,000
B u ffa lo N Y A Erie 1st M (B u ffa lo to C o r n l n g ) - .c *
1 ,500.000
67 1877
50 A c
B u ff & S W 1st M g e x t 1908 red 105 g ------------- xc*
250 ,000
12 1868
1,000
N e w b u rg A N Y 1st M g o ld e x te n d e d In 1 88 9-------c*
B — B o n d s on P rop erties C o n tro lle d b y O w nership o f Eli tire (*) o r a M aj >rlty (b) o f
200 ,000
1,000
10 1881
B erg en C o R R 1st M R u th Jet to R id g e w o o d N J - 250 1890
1.000 1 2 ,000,000
Ch A E rie 1st M g (M a rlon O to H a m ’ d Ind) -_ C c .e *
300,000
1,000
C h ica g o A A tla n tic T erm in al first m o rtg a ge g - - Ce
1888
2 16,500
cG osh en A D e c k ’ t ’ n 1st A 2d M ’ s ($ 00,000 are 2 d ) .
68-09
170,500
66-67
cM on t A E rie 1st A 2d M ’s ($ 4 0 ,5 0 0 are 2 d s ).............
300 ,000
8 67-69
500 A c
Jefferson 1st A 2d M ’s e x t In ’ 87 A ’ 8 9 (H ’ daleB r) _c
2 ,8 0 0 ,0 0 0
37 1889
1,000
1st M C a rb on d t o S d e p o t g e x t In '0 9 red 105FP.C*
7 .5 0 0 .0 0 0
L o n g D o c k C o con s M g (n o w 1st M) (see t e x t ) — c*
1 ,000
1885
1,4 7 1 ,6 0 0
52 1896
100 &c
c N Y & G reenw L p rior Hen M $ 1 ,5 0 0 ,0 0 0 g o l d . . . N
400 ,000
34 1880
500 A c
629 ,500
1892
500 A c
1 .100,000
1,000
1882
3,3 9 6 ,0 0 0
1,000
1883
8.0 0 0 .0 0 0
422 1880
500 &c
evelan d A M a h on ln g V a lle y R R
e y — T loga R R — See e ach c o m p a n
cN Y S u sq u eh an n a & W este rn — N o r t l
C— E ric R a ilroa d C o m p a n y B o n d s
1 ,0 0 0 ,0 )0
67 1895
1,000
1,000 35,000 000
1895
1 1895
1 .000 35.8 85.000
W h ere P a y a b le, a n d by
W hom
W h en
P a y a b le
B on ds— P r in c i
p a l, W h e n D u e
S to c k s — L a s t
D iv i d e n d
U nion T ru st C o N ew Y o r k Jun e 10 ’ 09 1 %
7
Q— M
Ju ic 10 ’ 09 1 %
do
do
7
Q— M
J u ly 1 1940
do
do
3>S g J A J
See te x t Sem l-ann J P M o rg a n A C o N Y A p r 1907 2 %
A p r 190 7 2 %
do
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See te x t Sem l-ann
M A N
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C a pital S t o o k , or
6
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& 6
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6
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do
do
do
do
do
do
do
do
do
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See t e x t
do
do
do
do
do
do
do
do
b y (c) Lease
S ec te x t
50 C hurch S t, N ew Y o r k
do
do
M ay
Sept
M ch
O ct
June
J u ly
Sept
Sept
Jun e
J u ly
Jan
1 1947
1 1919
1 1923
1 1920
1 1928
1 1931
1 1920
1 1920
11916
1 1918
1 1929
A p r 1 1911
M ay 1 1982
J u ly 1 1918
192 8-1 929
192 6-1 927
F id elity T ru st C o P h lla J u ly 1 1 9 2 7 -2 9
Apr 11919
See t e x t
O ct 1 1935
do do
J P M organ A C o N Y M ay 1 1946
Apr
1910
do
do
Jan 1 1933
do
do
M ay 1 1922
See te x t
J u ly 1 1913
do
do
M ch 1 1935
See te x t
3
Ry
A
A
A
J
J
J
S e c te x t
S ee te x t
See te x t
J u ly 1 1918
Jan 1 1996
Jan 1 1996
T h e b o n d s o f the A la m a g o rd o & S a cra m e n to M tn . R y ., o f the El P a so A
E A R N I N G S .— F o r y ear e n d in g D e c. 31 1907 (48 m iles In fu ll o p e r a t io n ),
R o c k Isla n d an d those o f the D aw son R y . A Coal C o . arc g u aran teed .
gross $10 3 ,2 2 9 ; n e t, $14 7 ,9 9 7 .
F o r year e n d in g D e c. 31 1006 (38 m ile s),
E A R N I N G S .— 8 m o s . , / 190 8-0 9.......... G ross, $ 4 ,6 3 4 ,3 8 3 , n e t, $ 1 ,9 2 1 ,7 0 6
g ross, $ 33 6,87 8; n e t, $13 6 ,2 6 1 ; ln t. on b o n d s. $ 68 ,024 : b a l.. s u r .. $ 68 ,237 .
-------J u ly 1 to F e b . 28.
11907-08______G ro ss......................... ; n e t,
P r e s ., W ir t I I . C ook ; S e c ., D a v id O . A n d e rs o n .— (V . 88, p . 563, 623 , 882.)
R E P O R T .— F o r ye a r e n d in g Jun e 30 1908, o f en tire El P a so & S o u th
D U L U T H SO UTH SH O R E & A T L A N T IC R Y . — O perates D u lu th to
w estern system (865 m ile s), gross, $ 7 ,5 6 4 ,1 0 5 ; n e t, $ 2 ,2 8 6 ,0 4 6 .
N. Y.
S a u ltc S te. M arie, 415 m iles: ’ ’ S ou ” J u n ctio n to S t. Ig n a ce , 43 m iles; o th e r,
o ffic e , 99 J o h n S t — (V . 81, p . 508; V . 87, p . 1605.)
135 m iles; to ta l, 593 m iles, Inclu din g 7 m iles o f track age.
E L P A SO U N IO N P A S S E N G E R D E P O T .— O w ns d e p o t at E l P a so , T e x .,
C A P I T A L S T O C K .— C om m o n s to ck Is $ 1 2 ,0 0 0 ,0 0 0 ; p r e f., $10 ,000 ,00 0;
w h ich w as co m p le te d a b o u t N o v . 1 1905. L eased b y E l P a so N o rth e a stern ,
p a r , b o th $100. P ref. s to c k Is 6 % n o n -c u m .
Can. P a c. J u ly 1 1908
El P a so S o u th w e ste rn , G alveston H arrisbu rg A San A n to n io (S o. P a c. S y s . ) ,
ow n ed $ 6 ,100,000 c o m . and $5,1 0 0 ,0 0 0 p re f. s t o c k , $ 3 ,000,000 incom es
A tc h . T o p . A S an ta F e , T e x . A P a c. an d M ex. C en t, railroads on a w h eclage
an d $15 ,1 0 7 ,0 0 0 con sols.
basis p ro v id in g fo r m aintenance and all ch arges. S t o c k , $24 0 ,0 0 0 , o w n ed
B O N D S , A c .— A b s tr a c t fir s t m o r tg a g e , V . 4 5 , p . 274.
e q u a lly b y the six roads n am ed. O f the b o n d s (see table a b o v e ) , $12 ,000 is
T h e first c on solid a ted m ortg age o f 1890 lias Interest at 4 % guaranteed
b v Can. P a c ., w h ich J u ly 1 1908 held the en tire ou tsta n d in g Issue ($ 1 5 ,1 0 7 , to be draw n y e a rly Jan . 1 b y lo t, b egin n in g 1916, an d paid o ff at par.
V 78 p. 104; V . 8 1 , p . 1043. P r e s ., .1. E . H u rle y ; S e c ., W . R . M artin ,
000) In Its treasury as secu rity fo r Its 4 % d e b e n tu re s to c k ; con sols fo r $ 4 ,
893 ,000 are reserved fo r p rio r b o n d s, and a d d itio n a l am ou n ts m ay he Issued T r e a s ., U . S. S te w a r t.— ( V . 81, p. 1043: V . 8 2 , p . 1496.)
E L G IN J O L I E T & E A S T E R N R Y .— O w n s fro m W a u k e g a n , 111., o n L ake
at $
per m ile o f new lines. C a r t r u s t 4 J ^ s o f 1906, V . 8 - , p . 452. D ue
C a nadian P a cific R y . A p r 1 30 1009 fo r g u aran teed Interest a d v a n c e s , M ich ig a n , v ia S p a u ld in g an d J o lie t, to P o r te r , I n d ., 129.94 m iles, and
b r a n d ie s N o rm a n to w n to A u rora, 9.65 m iles— W a lk e r to C oster, 111.— 33.30
$ 5 ,4 9 2 ,2 3 5 : o n general a c c o u n t. $62 ,9 8 8 ; un gu ar, ca r tru sts. $236,2 13
m iles; H a m m o n d to W h itin g , I n d ., A c ., 16.39 m iles; R o c k d a le J et. to R o c k
L A T E S T E A R N IN G S
1 9 0 8 -0 9 -----------G ross, $ ’ ,44 9 ,8 5 4 ; n et, $675,204
dale. 6.57 m iles; to ta l m ain line o w n e d , 195.85 m iles; spurs to coa l m ines,
11 m os J u ly 1 to M a y 3 1 .) 190 7-0 8_______ G ross, 2 ,7 2 1 ,5 6 8 : n e t, 679,260
& c., 36.24 m iles: tra ck a g e , C h ic. & W e s t . I n d ., 4.8 m .; B elt R y . o f C h icago,
D eficit u nd er ch arges, $29 2 ,4 2 8 , a g ain st $304,089 In 1907-08.
2.05 m .; 2d t r a c k , 29.91 m .; sidetra ck s and yard s o w n e d , 118.81 m .; to ta l
R E P O R T . — R e p o r t for v e a r e n d in g Ju n e 30 1908 In V . 87, p . 807.
track o p e r a te d , 387 .66 m iles. O w n ed b y Federal Steel C o. an d so b y U . S.
O f the ton n a g e In 1907-08, o res furnish ed 4 3 % . lu m b e r, A c .. 2 7 % .
Steel C o r p o r a tio n .
Leases C h ic. L . S . A E a st, fo r 50 years fro m Jun e 1 1909
GrossO v e r . I n c . O th . I n c . I n i. t a x ., & c . H a l., d e f
v m , __
an d w ith th e U . S . Steel C orp . gu aran tees Its $ 9 ,0 0 0 ,0 0 0 4 ^ % b o n d s,
1007-08
$ 1 ,7 7 6 ,4 4 6
$47 2,82 0
$80,222
$767,712
$214,670
p rin cip a l an d interest. V . 88, p . 1372.
„
1 0 0 6 -0 7 .................." " . 2 117 189
532.043
60,046
779,902
187,813
S T O C K .— $ 1 0 ,0 0 0 ,0 0 0 , b e in g Increased fro m $ 6 ,0 0 0 ,0 0 0 In Ju n e 1909;
P r c s .,~ W . F . F it c h , M a rq u e tte , M ic h .— (V . 87, p . 8 0 7 ; V . 88, p . 822.)
p a r, $
. D lv ., 4 % y e a rly (in D ec.) in 1899 t o 1908.
„„
D U R H A M A SOUTH C A R O L IN A R R .— D u rh a m . N . C .. so u th 30 m iles
E A R N I N G S .— 11 m o s . , / 1 9 0 8 -0 9 ........... G ross, $ 2 ,2 9 7 ,0 1 0 ; n et, $852,195
t o M Inturn on the S ea b oa rd A ir L in e . S t o c k , $300 000: p ar, $100
B o n d s,
J u ly
to M a y 31.
\ 1907-08_______ G ross, 2 ,2 1 2 ,6 9 7 ; n e t, 807 ,045
see ta b le .
Y e a r e n d in g J u n e 30
, gross, $72,397; n et, a fte r ta x e s,
F o r 9 m o s. e n d in g M arch 31 1909. n e t, $68 6 ,3 6 7 , a g s t. $70 0,79 8 in 1907-8;
$ 2 0 ,2 5 8 . P r e s ., E rnest W iliia m s , L y n c h b u r g , V a .
(V . 81, p . 840.)
ta x e s, $86,500; o th e r Incom e, $150,773; ln t ., rentals, lm p ’ ts, A c ., $38 6,60 6,
n i lP H A M U N IO N ST A T IO N C O .— O w ns passenger sta tion at D u rham
b a l., su r-. $36 4,03 3.
N oV, o p en ed M ay 1 1905 a n d used b y the Sou th ern R y ., Seab oard A ir Line
Y e a r e n d 'g J u n e 30.
G ross.
N et.
O th er in c o m e . I n t e r e s t . S u r p lu s
R v N o rfo lk A W estern R y . and D u rh am A S o u th e rn , w h ich each ow n on e1 9 0 7 -0 8 ..................$2,389,862
$730,401
$17 9,05 2
$447,014
$462,439
fo u r th o f $ 33 ,300 s t o c k .
Lease p ro v id e s fo r rental b y several lines su fficie n t
19 0 6 -0 7 _________ 2 .715,916
842,701
16,774
4 2 5 ,0 0 0
434 .5 6 5
to p a y ln t. an d o th e r ch arges. P r e s ., H . W . M iller; S e c ., G . N . F reem an .
A lso o a k l In 1907-08 fo r o th e r p u rp o se s, $ 21 ,112 : d lv s . ( 4 % ) , $24 0 ,0 0 0 .
P re s ., A . F . B a n k s.— (V . 88, p . 1127, 1252, 1372: V . 89, p . 41.)
F A S T B R O A D T O P R R . & C O A L CO . ( P a .) — O w ns fro m M ount U n io n ,
Pa
to W o o d v a le , P a ., 31.13 m iles; O rb tsonla to G ro ve s, 1.70 m .; B o o k e r
E L M IR A & L A K E O N T A R IO R R .— O w ns fro m C a n an da igu a , N . Y . , to
Jet ’ t o B o o k e r, 2.36 m .: op era tes Shade G an R R . , 4.7 7 m ., and R o c k y R R . ,
C h em u ng J e t .. 64 m .; S odu s P o in t to S ta n le y , 34 m .; o th e r, 2— to ta l, 100 m .
93 m • t o t a l. 4 4 .8 9 m . See V . 7 5 , p. 77. A coal ro a d o p e n e d ,n 1874.
L ea sed at c o s t o f o p e ra tin g to the N o rth e rn C en tral, w h ich o w n s all the
S t o c k , $81 5,58 9 (p ar $ 5 0 ), o f w h ich $24 7,18 9 Is 6 % n o n -c u m . pref. First
$ ,
s t o c k . Lease m a y be te rm in a te d o n 30 d a y s ’ n o tice .
m tg e 4s ($500,000) e x te n d e d In 1908 to Ja n . 1 1958. S e co n d m tge. 4 %
C a l. Y e a r —
G ro s s .
N et.
I n t ., A c .
B a la n c e .
In com e b o n d s, $46 6 ,7 0 5 , due Ja n . 1958, give n In 1908 fo r b a ck Interest
1 9 0 8 .......... - .....................$ 1 ,055,139
$66 ,897
$101,527
fro m 1885
Car tru sts, $42 ,0 0 0 ; ln t., 6 % , p a y a b le J .-D .
Y e a r 1907-08,
1 9 0 7 .................................. 1,248,549
61,918
1 30 ,660
d e f. 68,742
gross $23 6 ,4 0 0 ; n e t, $ 1 2 5 ,7 3 3 ; o th e r In c., $ 5 ,195: ln t ., & c., $2,542; b a l.,
E L M IR A & W IL L I A M S P O R T R R .— O w ns fro m W illia m s p o rt P a . to
s u r . , ’$10 8 ,3 8 6 . P r e s ., R . S. S lcb e rt, O rb lson la , P a .
O ffic e , 316 W a ln u t
E lm ira , N . Y . , 73.4 t m iles.
L eased to the N o rth . C en t. R y . fo r 999 years
S t .. P h lla .— (V . 7 7 , p . 145.)
fro m M ay 1 1863. T h e d lv s. o n the c o m . s to c k are 5 % and o n the p re f. 7 /<>.
p a c t M A IIA N O Y R R .— O w ns fro m E ast M ah an oy Ju n ctio n to S t.
less taxes, m aking d lv . on c o m . 4 .7 6 % and on pref. 6 .6 0 % .
Y e a r en din g
N ich ola s an d bran ch es, 11 m iles; 2d tra ck , 2.10 m .: to ta l tra ck , 19.70 m .
D e c. 31 1908, gross, $1 ,6 0 6 ,3 8 1 ; n e t, $ 38 3,02 2; ren ta l, $15 4 ,5 3 6 .
R e-lea sed D ec. 1 1896 fo r 999 years t o L ittle S ch u y lk ill N a v . R R . & Coal C o.
E R I E & P IT T S B U R G H R R .— O w ns N ew Castle, P a ., t o G ira rd , P a ..
at 5 % on s t o c k , and lease assigned to P h lla. A R e a d in g R y .
O f the s to ck
m lle s :b r a n c h to Erie d o c k s , 3.41 m .: track age t o E rie, 16.74 m ., to ta l
$28 0,00 0 w as d ep o s ite d b y R e a d in g C o . u n d er Its general m o rtg a g e .
o p e r a te d , 99.71 m iles.
L eased to P e n n . R R . fo r 999 years In 1870 a t 7 / 0
F A S T P E N N S Y L V A N IA R R .— O w ns R e a d in g , P a ., t o A lle n to w n , P a .,
o n s to c k an d Interest o n b o n d s, a n d lease transferred to I en n . C o.
U nder
35 38 m iles; 2d track , 2 7 . 17 m .; all tra ck . 8 7 .5 0 m iles. Leased fo r 999 years
agreem en t o f N o v . I 1905 the P en n . R R . w ill p r o v id e sin k in g fu n d Install
from M ay 1 1869 to the P h lla. A R e a d in g R R . at a rental o f 6 % p e r annum
m ents required b y the gen . m tg e ., the E . & P . to d e liv e r its 3 >$% deben tu res
on the s to c k and Interest on the b o n d s.
L ease assum ed In 1896 b y the
a t p a r fo r such a d va n ce s an d at m a tu r ity o f th e gen . m tg e . b o n d s t o e x
P h lla & R ea d R allied;/ C o.
O f the s t o c k , $ 1 .0 9 6 ,7 0 0 w a s o w n c d b y R e a d
ch an ge new m tge. b o n d s th e re fo r.
D e b e n tu r e s o u ts ta n d in g Jun e 1909,
in g C o. J un e 30 1908, $ 1 ,0 9 2 ,8 5 0 b e in g d e p o site d u nd er g e n .m tg e . o f 1897.
$192,843 (Interest J . A J . ) .
___
.. . ,
,
„
S T O C K .— T h e special be tte rm e n t s t o c k ($ 2 ,5 0 0 ,0 0 0 a u th .) Is su b o rd in a te
E A S T T E N N E S S E E & W E S T E R N N O R TH C A R O L IN A R R .— A narrow gauge roa d from J oh n son C ity , T e n n ., to C ran berry , N . C ., 34 m iles. E x
t o the o ld s to c k , b u t gu aran teed 7 % d iv id e n d s .
D ivid en d s o n o ld stock
tension fro m J oh n son C ity to H a m p to n , T e n n ., 15 m ., w as co m p le te d as are s u b je c t to a 4-m lll ta x on assessed v a lu a tio n , th ose on special b e tte rm en t
th ird rail In D e c. 1906. S to c k , $ 50 1,90 0. C on trolled b y the Cran berry
s t o c k arc ta x -fr e e .
n , n. ,
E A R N I N G S .— T h e p r o fit to the lessees In 1905 w as $ 4 4 2 ,0o9 In 1906,
Iro n A Coal C o.
F or year en d in g Ju n e 30 1908, gross. $23 9,14 2: n e t, $ 1 1 1 ,
518; o th e r In com e, $ 2 ,809; ln t ., taxes, A c ., $ ,269; b a l., su r., $8 0 ,0 o 8 .
$47 5,74 4; In 1907, $634,366; In 1908, $ 9 0 ,4 7 6 .— (V . 8 4 , p . 749.)
P r e s ., F . P . H o w e , P h lla ., P a .— (V . 82, p . 33 3 , 1379.)
E R IE R A I L R O A D .— (See M a p o n a d jo in in g p a g e . ) — E m b r a c e s 't r u n k
E A S T E R N K E N T U C K Y R Y .— R iv e r to n to W e b b y llle , K y ., 36 m . S to c k ,
line fro m Jersey C ity , o p p o s ite N . Y . C ity , to C h ica g o , 111., 998 m ., and
c o m m o n , $1 ,6 9 7 ,8 0 0 ; p refe rre d , $1 ,7 7 9 ,5 0 0 ; p a r , $
. N o b o n d s.
Bills
b ra n ch e s, 1.338 m .; to ta l, 2.336 m .: se co n d tra ck , 833 m .; 3d and 4th tra ck s ,
p a y a b le an d car trusts Jun e 30 1908, $ 51 ,008 .
Y e a r 1907-08, gross, $ 5 0 ,
m iles; to ta l, all track s, 3,202 m iles.
.
399; net a fter taxes, $421.
L i n e s o w n ed in f e e —
M i l e s . \ L e a s e d l in e s —
M ilc*
P le r m o n t, N . Y . , to D u n k i r k .. 4 4 7 | A v o n G en. & M t. M o rris --------15
E L P A SO & N O R T H E A S T E R N CO .— O w ns the E l P aso & N ortheastern
B u ffalo to J a m e sto w n , N . Y _ .
(M o n tg o m e ry A E r i e . - -------10
R y .. from El P a so, T e x a s , n orth east 165 m iles, to the S alad o coa l fields,
B u ffalo to C o m in g , N . Y _______
|Northern R R . o f N . J --------------26
con trols and op erates El P a so & R o c k Isla n d R y .. C arrizosa to San ta R o s a ,
O th er b r a n c h e s -------------------------l3 9 | G o sh e n & D e c k e r t o w n - . - - ------12
128 m .; A la m a g o rd o & S a cra m e n to M tn . R y . , A la m a g o r d o , N . M ., to
S to c k a ll (a) o r n e a r lg a ll (b) o w n e d . (R o c h e s te r & Genessee V a ll e y - .
18
R u ssia, 31 nr.; D aw son R y ., L ib e r ty , N . M ., to D a w so n , 133 m .; to ta l, 457
a C h lcag o A Erie R R ...................... *250 lO th er l i n e s . . . ............. - - - ................
46
m iles. N am e ch anged from N ew M exico R y . & Coal C o. In 1905. O perated
a Jefferson R R - .............................. *451
L e a s e d to N v p a n o R R .
as eastern d lv ’ n o f El P a so A S o u th w ’ n C o ., lessee, th e w estern d lv n b ein g
N . Y . & G reen w ood Lake R R . *52| C levc. & M ah on in g V a lle y R R . *81
the El Paso A S ou th w estern R R . , El P a so , T e x ., to B en son , A r lz . w ith brs.
bN ew Jersey A N ew Y o rk R R . *38|Sharon R a i l w a y ------------------------- *32
T h e El P a so A R o c k Island R y . w as In corp ora ted In 1902 w ith $2,500,000
Erie & W y o m in g V a lley R R ___
59 |O th er lin es-----------------------------54
s to c k (of w h ich 6 0 % ow n e d b y the El P a so & N orth ea stern C o.) and
a N y p a n o R R .....................................* 4 2 2 \ T r a c k a g e ............................................ 182
$ 2,500,000 5 % gu aran teed 5 0-year b o n d s.
It has close tr a ffic agreem ent
w ith C h ic. R o c k Island A P a cific fo r 999 years.
V . 71, p. 1219.
O th c r ^ ln e s ........................ I . I l l "
143 llJ n e s In system Jun e 30 ’ 08 — 2,336
T h e D aw son R a ilw a y A Coal C o ., s to ck $ 3 ,0 0 0 ,0 0 0 , has Issued $3,000,000
•See this c o m p a n y .
IN . Y . S u squehann a A W e s t . . . *238
collateral trust b o n d s, w h ich are g u aran teed , prin cipa l and Interest, and are
H I S T O R Y .— O n D e c. 1 1895 su cce e d e d , p e r plan in V . 01, p . 368, the
secured b v the s tock and b o n d s ($3,0 0 0 ,0 0 0 each) o f the D aw son R y ., and
N . Y . L a k e Erie & W estern R R C o ., sold In fo reclosu re u n d er Its 2d c o n
those o f the D aw son Fu el C o. ($1,000,000 e a c h ), the la tter o w n in g a b o u t
2 5 .0 0 0 acres o f coa l, m ineral and tim b e r lands, b e in g sold in 1905 t o the solid a ted m tg e . T h e c o m p a n y h old s In fee o r th rou gh ow n ersh ip o f all
or p r a ctica lly all the s to ck o f the Indepen dent co m p an ies the line from
S tag C anon F u el C o. V . 73, p . 900; V . 74, p . 776: V . 8 7 , p. 1604, 1536.
N ew Y o rk to C h icago (In cluding the N y p a n o R R . and C h ic. & E rie c o m
S T O C K .— S t o c k , $ 1 2 ,0 0 0 ,0 0 0 . all o f o n e class
In M ay 1905 P h e lp s,
p a n ie s), an d also all su bsid iary lines e x c e p t a few sm all p rop erties.
D o d g e & C o. Interests, It Is u n d e rs to o d , a cq u ire d en tire s to c k o f system .
C O A L A N D S T E A M B O A T P R O P E R T Y .— T h e E r i e coal p roperties r e p
B O N D S .— T h e N ew M exico R y . & Coal C o . c o ll, trust 5s o f 1897 are
secured b y the s to c k and bon d s o f El P a so A N . E . R y . o f N ew M ex. ($ 2 . resent an aggregate o f 12.400 acres o f an th ra cite , o f w hich a b o u t 9,000 acres
are
held In fe e : also 53.000 acres o f b itu m in ou s coa l lands held In fe e , 14,000
700.000 o f e a c h ), the s tock o f the El P a so A N . E . R R . o f Texas, $300,000
( n o ’b on d s Issued), and all the s to c k ($2,500,000) an d all the b o n d s ($ 1 ,5 0 0 . acres o f b itu m in ou s held under m ineral righ ts. Its coa l ton n age In the
y ear 1907-08 aggregated 1 7,371,279 o u t o f the 3 3 ,6 2 9 ,7 0 6 tons h au led.
000) o f the N ew M ex ico F uel C o ., the la tte r co v e rin g 3,5 0 0 acres o f coal
T h e U n ion S te a m b o a t L ine (m erged In Erie R R . C o. Jun e 30 189 6 ), has
lan ds. O f the first and c o n so lid a te d and co ll, trust 5s o f 1901, $3,000,000
term in al. A c ., p roperties In B u ffalo and 8 lake steam ers. See V . 63, p . 514.
are reserved t o retire the co ll, trust 5s o f 1897 and $2,0 0 0 ,0 0 0 arc ap p lica b le
T h e P e n n , coal p rop erties acq u ire d In 1991 are a d d itio n a l. V . 82, p . 1 322.
fo r Im p rovem en ts and new e q u ip m e n t.
V . 74, p . 776.
20,000
.—1
100
1
1907
4
1 500,000
79.56
34
100
33
67
140
R A ILW A Y STOCKS AND BONDS.
J u l y . 1909.]
RAILWAY STOCKS AND BONDS.
54
( C o n c lu d e d ) —
M ile s
of
R oad
D a te
of
B onds
1001
P e n n c o ll tru st M * 3 0 ,0 0 0 ,0 0 0 g s f ( t e x t ) . .M e .c & r
1903
F irst c o n v m tg e *
,
g o ld Series A — S c * & r
do
do
do
Series 13___________
1905
C oll t r g n otes * 1 5 ,0 0 0 ,0 0 0 red p a r-----------B a .x c *
1908
1907
E rie & J ersey n o te s secu red b y E & J b o n d s ----------N Y P a & O h io eq u ip trusts sink fu n d d ra w n a t 100
’88-90
O th er e q u ip m e n t trusts July 1008
A v o n O en eseo & M t M orris and R o c h e s te r tc G enes ee Val ley S to
Evansville & Ind—T H & S (cash dep t o p a y b o n d s)
40 1879
55 1884
E v a n s v ille & In d ia n a p olis 1st M gold g u a r -------F .c*
C on s M (* 2 ,5 0 0 ,0 0 0 ) g gu p & 1 (en d) E & T H .F .c *
135 1886
Evansville & Terre Haute— C o m m o n s t o c k -----------------P referred s t o c k n o n -c u m u la tlv e (see t e x t ) -----------Ta
C o n s o lid a te d m ortg a ge (first lien) g o ld _____________
115 1880
144 1881
F irst c o n s o lid a te d m ortg a ge g o ld _______________ F .c*
25 1883
M o u n t V e r n o n B ran ch m o rtg a g e g o ld ----------------F .c*
1890
S u lliv a n C o C oal B ran ch m o rtg a g e g o ld -------------F .c*
155 1892
F irst general m ortg age fo r $ 7 ,000,000 g o ld -------F o*
1905
E q u ip b on d s Series B due * 2 0 ,0 0 0 s -a ___________Ba
1906
do
Series C d u e *60 ,0 0 0 s-a (V 82 p 627) .Ba
Fitchburg— P referred 5 % r e n ta l------------------------------------1887
B on d s to S ta te o f M ass 4 % sin ce F e b 1897-------------r
1890
B on d s n o t m o r tg a g e ----------------------------------------------- c & r
1894
B on d s n o t m o r tg a g e -----------------------------------c*
’95-06
B on d s n o t m ortg a g e (* 1 ,3 5 9 .0 0 0 d u e 1 9 1 5 )--------- c*
’97-98
B on d s n o t m o rtg a g e (*2 ,7 5 0 ,0 0 0 are 4s o f ’ 9 7 ) . .c & r
’00-01
B on d s n o t m ortg a g e ($ 1 ,7 7 5 ,0 0 0 are 3 ^ s o f ’ 0 1 )c& r
1907
B on d s n o t m ortg a g e * 2 ,0 0 0 ,0 0 0 a u th o r iz e d — c * & r
1905
B on d s n o t m ortg a g e * 3 ,6 6 0 ,0 0 0 c u r r e n c y ..............c& r
1908
B on d s, n o t m ortg a g e $ 2 ,4 0 0 ,0 0 0 --------------------- . . c & r
1874
T r o y & B oston first m ortg a g e (V 53 p 4 0 5 )-------c& r
B r ook lin e & P ep p ered plain b o n d s gu ar (e n d )-------c
1891
V e r m o n t & M assachusetts ptaln b o n d s g u a r-------c& r
1903
F itz g e r a ld O cilla & B r o x to n — 1st M *300 ,000 g red 110
1907
F lint & Pere M a rm ictte— See P e rc M a rq u ette statem en
F lorid a C en tral— First m tge *200 ,000 g o ld (see t e x t ) .
1907
F lorid a C en tral & P en insu lar— See S e a b o a rd A ir L ine Ry
50 000,000
S iz e, or
Par
V a lu e
A m oun t
O u ts ta n d in g
R a te
*1 0 0 0 & c * 3 4 ,0 0 0 ,0 0 0
1,000 &c 10.0 0 0 ,0 0 0
1 .000 &o 1 1.015,000
1,000 &c 1 5 ,0 0 0 ,1 0 0
3 ,0 0 0 ,0 0 0
124,548
£1 0 0
4g
4g
4g
ck s— See
1,000
1,000
1,000
50
50
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000 &c
l.ooo
1,000
1,000 &c
1,000 &C
1,000 &c
1 .000 &c
1,000 &c
1,000 &c
1.000
&c
1,000
1,000
10,000
S T O C K .— T h e v o t in g trust w as d isso lv e d M ay 1 1904. V . 78, p. 1549.
T h e prior lien and the general lien b o n d s o f 1895 h a ve 10 v o te s fo r each $1 ,
000 o f p rin cip a l, their a u th o rize d Issues ag g re g a tin g * 1 7 5 ,0 0 0 ,0 0 0 , o f w h ich
* 8 0 ,3 4 2 .0 0 0 Issued In J u ly 1908. P ro v isio n s o f p re fe rre d s t o c k w ere In
“ S u p p le m e n t” o f A pril 1897, page 3 . V . 6 6 , p . 3 3 5 , 573.
D I V I D ’ S (cash) % —
1 1901. 1902. 1903. 1904. 1905. 1906. 1907.
1 )4
3
3 )4
4
4
4
A p r .2,
O n first p referred ________ )
O n s econ d p referred ______ J
-..
. . . .
2
4
A p r .2,
B O N D S .— T h e new first co n so lid a te d m tg e . Is fo r $ 1 7 5 ,0 0 0 ,0 0 0 (F a rm e rs’
L oa n & T ru st C o ., tru stee)— see a b s tr a c t o f d eed V . 62, p . 8 9 , and secures
*3 5 ,0 0 0 ,0 0 0 p rior lien an d * 1 4 0 ,0 0 0 ,0 0 0 general Hen b o n d s.
B o th series
h a ve v o t in g p ow er: see “ S to c k ” a b o v e .
O f the * 1 4 0 ,0 0 0 ,0 0 0 g e n e r a l lie n b o n d s , *9 2 ,0 7 3 .0 0 0 are reserved fo r the
u ltim ate acq u isition o f b o n d s an d g u aran teed s to ck s le ft u n d istu rbed on
va riou s parts o f the system (see list V . 6 2 , p . 8 9 ), and *1 7 ,0 0 0 ,0 0 0 w ere
reserved fo r new co n s tr u c tio n , b e tte rm e n ts , a d d itio n s , & c ., a fte r 1897,
n o t o v e r * 1 ,0 0 0 ,0 0 0 to be used in a n y o n e year.
T h e p osition o f the first co n s o lid a te d m o rtg a g e Is su b sta n tia lly as fo llo w s :
I t Is a first lien (m ortg a g e o r c o lla te ra l, th e p rior lien b o n d s, h o w e v e r, p re
c ed in g the general lien bon d s) u p o n the c o ’ s ch ief co a l p roperties (e x c e p t
P e n n . Coal C o.) u p on Its w ater tra n sp o rta tio n lines (In cluding va lu a b le te r
m in al p rop erties a p p u rten a n t t h e r e t o ), an d u p o n a n u m b e r o f p rofita b le
loca l lines in N ew Jersey and n ear B u ffa lo : It is a s e co n d lie n u pon certain
m in or coal p rop erties and u p o n th e railroads leadin g to all the coa l pro p e r
ties, u p on the term inals at J ersey C ity , u p o n the B u ffalo N . Y . & Erie R R .
(th e m ain line to B u ffa lo ), and th e B u ffa lo term in al properties o th e r than
those u p on w h ich It Is a first lien , an d u p o n the en tire line fro m S alam an ca
to C h ica g o: It Is a se co n d c o n s o lid a te d m o rtg a g e u p o n the lines betw een P lerm o n t a n d D u n k irk (447 m ile s ).
T h e collateral trust 4s o f 1901 are secured b y 5 1 % o f the en tire N . Y .
S u sq . & W estern s to c k ($ 2 6 ,0 0 0 ,0 0 0 to ta l Issue), all o f the P e n n sylva n ia
Coal C o s t o c k , and the s to c k o f the E ric & W y o m in g V a lle y R R ., S cra n to n ,
P a ., t o L a ck a w a x e n , 65 m iles, an d D elaw are V a lie v & K in gston R R .
A
sin k , fu n d o f 10c. p er ton o f coa l so ld p u rchases b o n d s at n o t e x ce e d in g 105,
oth erw ise to be a pp lied to the d ra w in g o f b o n d s b y lo t , all such b o n d s t o be
k e p t aliv e and th e a ccru in g in t. th ereon t o be a d d e d t o the sinking fu n d ,
w h ich It Is e s tim a ted , w ill b e s u fficie n t t o retire the w h ole Issue at o r b e fo re
m a tu r ity . V . 7 1 , p. 1219, 1311: V . 7 2 , p . 4 4 , an d circu la r, p . 136, 532, 2 5 7 .
V 79 p . 212 .
In 1901-08 * 2 ,5 3 5 ,0 0 0 I n c lu d e d a b o v e as o u tsta n d in g w as
p u rch ased b y th e sin k in g fu n d .
T h e c o n v . 4s o f 1903 ($ 5 0 ,0 0 0 ,0 0 0 a u th o rize d Issue) w ill be Issued fro m
tim e t o tim e as r e q u ire d an d m a y be m a d e c o n v e r tib le Into c o m . s to c k at a
p rice t o b e fixed w hen the b o n d s are Issued, b u t n o t less than *4 1 )4 per
share: th ey will c o v e r all th e c o m p a n y ’ s p r o p e r ty s u b je c t to u n d erlyin g liens.
T h e first *1 0 ,0 0 0 ,0 0 0 (series A ) Issued fo r Im p rovem en ts and e q u ip m e n t Is
co n v e r tib le on basis o f $100 b o n d s f o r *200 s to c k t o A p ril 1 1915.
Series B b on d s fo r * 1 2 ,0 0 0 ,0 0 0 are c o n v e r tib le In to co m m o n s to c k at
*60 p er sh are a t a n y tim e sin ce O c t . 1 1907 a n d b e fo re O ct. I 1917. V . 7 6 ,
p 38 2 . 541: V . 7 8 , n. 768- V . 7 9 , n . 2205; V . 8 4 , p . 270.
T h e E rie & J ersey R R . , w ith *6 0 0 ,0 0 0 a u th . s to c k , c o m p le te d In J a n . 1909
a lo w -g ra d e c u t -o ff fro m H igh lan d M ills, v ia C a m p bell H all, t o G u y m a rd ,
N . Y . , a b o u t 40 m iles. In Jun e 1907 * 3 ,0 0 0 ,0 0 0 3 -y e a r E ric & Jersey 6 %
n otes w ere s o ld , secu red b y * 4 ,0 0 0 ,0 0 0 E . & J . b o n d s (a u th . Issue * 1 0 ,0 0 0 ,000 1st 5 0 -yea r 4 s ). V . 8 0 , p . 2621: V . 8 4 , p . 6 9 3 ,1 3 6 6 ; V . 8 7 , p . 1160.
In Ju n e 1907 the G enesee R iv e r R R . w as a u th orized to m ake * 6 ,0 0 0 ,0 0 0
m tg e . c o v e r in g road u n d er co n stru ctio n from H unts to C u ba. N. Y . . 30 m .
A loan o f *2 ,0 0 0 ,0 0 0 due 1910 w as o b ta in e d , secu red b y Its b o n d s. V . 84,
p 1366, 1488: V . 8 1 , p . 777 .
. . .
,
T h e Issue o f * 1 5 ,0 0 0 ,0 0 0 6 % 3 -y e a r c o ll, g o ld n o te s a u th orized In 1908
h a d as c olla tera l s e c u r ity In M a y 1909 th e fo llo w in g : * 9 ,4 5 7 ,0 0 0 Erie R R .
C o . "g e n e r a l Hen” b on d s (a d d itio n a l to th e * 3 5 ,8 8 5 ,0 0 0 sh ow n a b o v e as
o u ts ta n d in g ): $ 9 8 5,00 0 E rie R R . C o . " c o n v e r t ib le b o n d s, Series " B ” ;
*6 2 5 ,0 0 0 M utual T erm in al C o. o f B u ffa lo first m tg e . b o n d s: * 336 .000 Erie
R R . C o . P en n sy lv a n ia co lla te ra l b o n d s: * 1 ,1 5 4 ,0 0 0 H o ck in g V a lle y R y .
C o. c o m . s to c k ; *145 ,700 T e m p le Ir o n C o . ca p ita l s to c k : $13 4,00 0 L eh igh
& H u d son R iv e r R y . C o . c a p ita l s to c k ; $ 5 ,0 0 0 ,0 0 0 Interest o b lig a tio n s
a n d c o u p o n s o f E rie R R . s y s te m , pu rch a se d fro m holders d u rin g 1908-09.
In M a y 1909 th e rem a in d e r ($ 4 ,5 0 0 ,0 0 0 ) o f th e afo re sa id n otes w as sold
fo r cash an d a rran gem en ts m a d e u n d e r w h ich fu rth e r ob lig a tio n s an d In
terest cou p on s o f th e c o m p a n y m a tu rin g on o r b e fo re J u ly 1 1909 w o u ld be
p u rch a s ed a n d dep osited th ereu n d er, as w ell as * 1 ,0 0 0 ,0 0 0 a d d itio n a l ge n
eral lien b o n d s w h ic h th e c o m p a n y Is e n title d to Issue a n n u a lly fo r a d d i
tio n s an d b e tte r m e n ts . V . 8 6 , p . 856 , 917, 1466; V . 8 7 , p . 37.
C a r T r u s t S e r i e s , G old ( D e n o m i n a t i o n * 1 ,0 0 0 e a c h .)
D a te .
" A ” t o " C ” ’ 9 9 -’ 01
“ F ” . . . . ...1 9 0 2
“ G” * . . . . . . 1 9 0 4
” H ” ____ . . . 1 9 0 5
“ I” ___ . . . 1 9 0 5
" J ” ........... . . . 1 9 0 6
“ K” ___ . . . 1 9 0 7
" L ” ____ . . . 1 9 0 7
“ M " ____
" N ” ____ - - . 1 9 0 7
"O ” ___ . . . 1 9 0 7
I n te r e s t.
4 to
4 )4
4
4
4
4
4 )4
5
O u ts ta n d in g .
M a t u r e i n I n s ta llm e n ts .
5 V a r .* l ,2 0 0 ,0 0 0
V a r. t o 1910
*6 0 0 ,0 0 0 y ’ rly
- -& A
--------F e b . 1 1910
L a stln s ta llm R
140,000
F
L a t i n t dlrn’ t
163 ,000 D e c e m b r 1909
J& D
100 .000 s .-a .
J& D
1 ,000.000
’ 09-Jun e ’ 16
350 .0 0 0 s .-a .
4 ,9 0 0 ,0 0 0
J& D
4 7 ,0 0 0 s .-a .
715 ,000
M&N
S em i-a n n u ally
492.000
A&O
1 0 /.0 0 0 s .-a
T o J u ly 1917
1 ,712.000
J& J
T o J u ly 1917
519 ,000
J& J
1 5 2 ,0 0 0 s .-a .
2 ,5 7 6 ,0 0 0
A&O
5
T o O c t . 1017
900 ,000
5
A&O
T o A u g . 1912
------------------------” P " ___
347,505
Q .-F .
• Series “ G “ Is s u b je c t to call at par sin ce D e c. 1907.
In terest p a id : *A” to " G ” an d " J ’ r In N ew Y o r k : series " H ” at G irard
T r u s t C o ., P h iladelph ia; series " I ” at P e n n . C o . fo r Insur. on L iv e s, & c.,
P h lla .: series " N ” at First N a t. B a n k , N . Y .
In A u g . 1907 a p p lic a tio n was
m a d e to Issue a b o u t *8 ,0 0 0 ,0 0 0 car tru sts, o f w h ich p a rt Issued.
In F e b . 1909 plans fo r r e fu n d in g th e m a tu rin g p rin cip a l o f car trusts
($ 1 0 ,9 9 8 ,2 6 1 ) d u rin g the 5 -year p eriod e n d in g D e c. 31 1913 w ere u n d er
c o n s id e ra tio n .
V . 88, p . 882.
L o n g D o c k 6s. see M arch 1894 "S u p p le m e n t ,” u n d e r N . Y . L . E . & W .
F I N A N C E S .— D u rin g th e y e a r e n d in g Ju n o 30 1909 th e c o m p a n y a n
n ou n ced th a t va riou s co u p o n s (a ggre ga tin g a b o u t * 7 ,0 0 0 ,0 0 0 ) w o u ld b e
p u rch a sed o n p resen ta tion to J . P . M organ & C o . C o u p o n s d u e J u ly 1 1909
B on d s— P r in c i
p a l, W h e n D u e
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f i r s t p a g e o f ta b le s.
Erie Railroad—
[VO L. L X X X I X .
%
G
5 g
th ose C o m p antes
7
251 ,000
647 ,000
6 g
6 g
1,8 5 3 ,0 0 0
3,9 8 7 ,3 8 3 4 In 1908
1,2 8 3 ,3 3 3 5 In 1908
30,000
6 g
3,0 0 0 ,0 0 0
0 g
375.000
0 g
450 ,000
5 g
3.1 4 5 ,0 0 0
5 g
220,000
4 )4 g
780 ,000
4 )4 g
5
1 8 ,010,000
4
5 .000.000
4
500,000
500,000
4 )4
4
1.8 5 9 ,0 0 0
4
4.2 0 0 ,0 0 0
2,2 7 5 ,0 0 0
3)4
4
2,0 0 0 ,0 0 0
4
3.6 6 0 ,0 0 0
2 .4 0 0 .0 0 0
4)4
7
573,000
5
100,000
3)4
772,000
6 g
150,000
200,000
6g
W hen
P a y a b le
F
A
A
A
W h ere P a y a b le, and by
W hom
Feb
Apr
Apr
Apr
1910
t908
& A See te x t
do
& O
do
& O
& 08
V a riou s L o n d o n
M & S B a n k ers’ T ru st C o N Y
do
J
do
& J
& J
do
do
J
Y e a rly C h ecks m ailed
A & o C h eck s m ailed
J & J B a n k ers’ T ru s t C o N Y
J
&
J
do
do
A & o
do
do
A
& o
do
do
A
& o
do
do
F
& A B lair & C o N ew Y o r k
F
do
& A
do
3 — J O ffic e , B o sto n & Me B ost
M & N O ffice F I t c h b u r g R R .B o s t
& D
do
do
.1
do
do
M & N
do
do
V a rio u s
do
do
V a riou s
do
do
A & O
do
do
A & O
do
do
M & N
do
do
M & N
do
do
J & J
do
do
J & D
do
do
M & N
&
J O w n ed b y A tl B & C ’stC o
J
M
&
S tock s— L a st
D iv i d e n d
1
1
1
8
1051
1953
1953
1911
a n d 1910
S ept 1 1009
J u ly 1 1924
Jan 1 1926
N o v 2 1908 4 %
A p r 15 1009 2 )4
J u ly 1 1910
J u ly 1 1921
A p r 1 1923
A p r 1 1930
A p r 1 1942
F e b ’ 1 0 -F e b ’ 15
F e b '1 0 -F e b ’ 16
J u ly 1 ’ 09 1 M %
Feb 1 1 9 3 7
June 1 1020
M ay 1 1914
1915 an d 1916
192 7-1 928
O ct 1 192 0-2 1
A p r 1 1927
M ay 1 1925
M ay 1 1028
Ju ly 1 1924
D ec 1 1911
M ay 1 1923
J u ly 1 1937
N B a n k o f T h o m a s v lllc Ga N o v 1 1 0 1 0 -1 4
t o a to ta l o f $ 1 ,7 0 0 ,0 0 0 w ere also ad v e rtise d t o b e pu rch ased (V . 8 8 , p .
162 0 ), a n d th e rem ain in g $4,5 0 0 ,0 0 0 o f the 15 m illio n n o te Issue o f 1908
w a s s o ld , secu red In p a rt b y these co u p o n s . T h e Im p ro v e m e n t In th e finan
cial o u t lo o k has le d th e m an agem en t to a b a n d o n , at least fo r th e p re s e n t,
th e Issuance o f a n y o f the $ 30 ,000 ,00 0 b o n d s w h ich w ere t o b e used t o ta k e
up th e a fo re s a id n o te Issue an d t o fu n d th e * 1 1 ,3 8 0 ,0 0 0 c o u p o n s m atu rin g
o n th e p rio r lien b o n d s an d general lien b o n d s d u rin g th e five years e n d in g
Ju n e 30 1914, a n d it Is su p p o se d th a t fro m n ow o n these c o u p o n s w ill b e
p a id , n o t m e re ly p u rch a se d . C om pa re V . 8 7 , p . 1245; V . 8 8 , p . 504 , 853 ,
882 , 1061, 1127.
E A R N I N G S .— 11 m o s ., 1 1 9 0 8 -0 9 .. .G r o s s , * 4 6 ,2 4 3 ,2 9 7 : n e t, * 1 2 ,2 8 8 ,2 1 6
J u ly 1 t o M a y 31.
] 1 9 0 7 -0 8 .. .G r o s s , 4 5 ,6 7 0 ,3 7 0 ; n e t,
8 ,3 3 6 ,9 2 4
F o r 10 m o s . e n d in g A p ril 30 1909, n e t, a fte r ta x e s , * 1 1 ,0 1 9 ,9 7 9 , again st
5 7 ,2 4 8 ,6 7 8 In 1907-08; surplus o v e r ch arges, $ 2 ,5 4 3 ,0 0 0 , a g ain st d e f.
* 1 ,8 6 7 ,0 0 0 In 1907-08.
A N N U A L R E P O R T .— F iscal y e a r en ds Jun e 3 0 .
R e p o r t fo r 1907-08
g iv e n a t len gth in V . 8 7 , p . 1232, 1242. C o m p a riso n s w ith p re v io u s years
are In a ccu ra te , o w in g t o changes In a c c o u n tin g .
....
1907-08.
190 6-0 7.
190 5-0 6.
1904-05
M iles o p e r a t e d ..
.
2,171
2,151
2,151
2,151
G ross e a rn in g s------$50 ,007 ,60 3 $5 3 ,9 1 4 ,8 2 7 * 5 0 ,0 0 2 ,6 3 4 * 4 5 ,7 2 4 .7 3 8
W o r k in g e xp en ses
. . . 41,0 8 9 ,0 3 2 3 8 ,1 6 7 ,0 3 9 3 5 ,8 7 2 ,8 3 7 3 3 ,1 4 2 ,2 0 8
N e t e a r n i n g s . . . ...........*8.918,571 $ 1 5 ,7 4 7 ,7 8 8 1 * 1 4 ,1 2 9 ,7 9 7 *1 2 ,5 8 2 ,5 3 0
N e t c o a l c o m p a n i e s ___
\ * 1 ,5 9 5 ,1 4 0
* 2 ,1 9 0 ,4 3 9
O th er I n c o m e .................. 2 ,7 5 0 ,4 6 7
2 ,2 0 2 ,6 2 5
582,702
488 ,048
T o t a l net In co m e -------$ 11 ,669 ,03 8 * 1 7 ,9 5 0 ,4 1 3 $16 ,3 0 7 ,6 3 9 $ 1 5 ,261 ,01 7
* 9 ,5 7 2 ,6 2 8
* 9 ,2 4 6 ,9 4 8
* 8 ,8 9 1 ,0 7 7
I n t e r e s t _________________ *9,662,561
1,1 4 7 ,5 0 2
1 ,0 9 4 ,5 7 5
1,153,623
R e n t a l s _____________
984,753
H ire o f e q u ip m e n t, & c__
820 ,399
1 69 ,330
172 ,827
176,893
P . c . d u e leased lin es—
__________
602 ,9 2 2
397,562
264 ,249
In te re s t o n e q u ip , trusts
722,643
554,373
379 ,0 8 3
3 6 8 ,5 8 0
M is c e lla n e o u s ----------------1,102,104
1 642 .0 2 9
1 ,926,973
1,3 6 0 ,5 5 5
A d d ’ ns & Im p rovem en ts
575,804
D iv s . o n 1st p r e f e r r e d ..
_______ *(2 )9 5 7 .8 4 8 (4 )1 ,9 1 5 ,6 9 6 (4 )1 ,9 1 5 ,6 9 6
(•)
(4 )6 4 0 ,0 0 0______________
(4 )6 4 0 ,0 0 0
D lv s . o n 2 d p re fe rre d —
_______ _____________________________
B a la n ce , su rp lu s-------df.*2 ,199 ,22 6
* 3 ,3 0 3 ,7 8 1
* 5 3 3 ,9 7 5
*490 ,344
• O f th e d iv id e n d s d eclared p a y a b le o u t o f the earnings o f 190 6-0 7,
o n ly 2 % w as paid on 1st p r e f., ca llin g fo r * 9 5 7 ,8 4 8 ; the rem ain in g 2 % on
1st p re f. an d the 4 % on 2d p r e f.. w h ich w ere d eclared p a y a b le In s c r ip ,
w ere n o t p a id a n d are n o t d e d u cte d a b o v e . V . 8 6 , p . 602 .
O F F I C E R S .— P res.. F. D U n d erw ood : V .-P . and G en. S o licito r , G . F .
B ro w n e ll: V Ic e -P r e s ., G . A. R ich a rd s o n : S e c ., D a y ld B o sn ia n : T r c a s ., D . W .
B Igon ey: C o m p ., M . P . B la u v e lt, 50 C h u rch S t ., N ew Y o r k .
D I R E C T O R S .— Chas. S teele, J . J . G o o d w in . J o h n G . M cC u llou gh ,
O gden M ills, F . D . U n d e r w o o d , G . A . R ic h a r d s o n , F ra n cis L y n d e S te ts o n .
G eo. F . B a k er, N orm an B . R e a m , H . M c K . T w o m b ly , E . H . H arrlm an .
E . H . G a ry , G eo. W . P erkin s, R . S . L o v e t t , L . F . L o re e , W m . P . H a m ilto n .
— (V . 8 8 , p . 1372, 1436, 1560, 1620; V . 89, p . 4 1 , 224 .)
E V A N S V IL L E & IN D I A N A P O L IS R R — O w ns E v a n sville t o T erre
H a u te , I n d ., (via W o rth in g to n ) 134 m .; leases b r a n c h , 12 m . A co n s o lid a
tio n In 1885. O f the c o n so ls, *6 4 7 ,0 0 0 a rc h eld t o m eet ls t s d u e 1924. T h e
con sols and th e b o n d s o f 1924 are g u aran teed b y E v a n s. & Terre H a u te ,
w h ich ow ns ca p ita l s to c k , * 2 ,0 0 0 ,0 0 0 . C o m p a n y o w n s n o e q u ip m e n t.
In 1906-07, gross, * 439 ,356 : net, * 1 2 8 ,6 1 7 ; Interest .taxes, & c., *19 5 ,5 5 3 :
balance, deficit fo r year, $ 6 6 ,9 3 6 .— (V . 7 5 , p . 980; V . 89, p . 103.)
E V A N S V IL L E & T E R R E H A U T E R R .— (S w W a p s Rocfc fsla n d C o.) —
R o a d ow n ed a n d o p e r a te d .
M ile s
C o n tr o lle d a n d o p e r a te d .
M ile s .
E v an sville to T erre H a u te _________109 E v a n s v ille & In d ia n a p o lis, E v
an sville t o T e rre Haute v ia
Bran ch es to M t. V e rn o n , & c _______ 50
E v a n sv ille B elt (sto ck h e ld )________ 5 W o r t h in g to n , & c ...........................146
T o ta l In e arn in gs------------------------------------------------------------------------------------------ 316
Leased to o th e r co m p a n ie s R o c k v ille e x t e n s i o n . . - - . - . . — ---------------------23
T h e C h ica go & E astern Illinois o w n s * 3 ,1 6 1 ,4 5 0 o f the $3,0 8 7 ,3 8 3 c o m
m o n s t o c k ; p a r. *50. V . 8 1 , p . 1242.
D I V S . ’ 94. ’ 95. ’ 06. ’ 97. ’ 98. ’ 99. ’ 0 0 . ’ 01. ’ 0 2 -’ 05. ’ 06. ’ 07. '0 8 . 1909.
C o m - - % ............................................
2 3
1 )4 N o n e .
4
4 4
-----------P r e f-.% . . . .
I
1 2
4 )4 5
5 5 y ’ ly .
5
5 5 A p r .,2 )4
O n p r e fe r r e d 5 % de cla re d , 2 ) 4 % p a id O ct. 15 1008 an d 2 ) 4 % A p ril 15 ’ 09.
B O N D S , G U A R A N T I E S , & c.— Certain E v an sville & In d ian ap olis b on d s
arc gu a ra n teed . See th at c o m p a n y .
G eneral m o r t. 5s fo r $ 3 ,855,000 are
held In trust t o retire the p rio r b o n d s and car trusts at m a tu r ity .
E q u ip
m en t n otes Jun e 30 1908. In a d d itio n to those In table a b o v e , * 1 3 ,7 7 0 .
E A R N I N G S .— 11 m o s ., 1 190 8-0 9........... G ross, $1 ,9 3 7 ,3 1 5 :
n e t, * 6 1 5 ,6 2 2
J u ly 1 t o M av 31. (1 9 0 7 -0 8 ................... G ross, 2 ,0 4 2 ,0 2 5 ;
n e t, 6 21 ,102
F o r 10 m os. en din g A pril 30 1909, n e t, $ 65 6,56 3; a g ain st * 6 5 9 ,2 0 3 In
1907-08: ta xes, *9 1 ,9 1 6 : o th e r In com e, $ 93 ,895 ; Interest a n d re n ta ls,
* 501 ,928 ; ba la n ce, surplus, $ 15 6,61 4.
A N N U A L R E P O R T .— R e p o r t fo r 1907-08 In V . 8 7 , p . 1155: R esu lts o f
E v an sville & In dian ap olis are In clu d e d .
Y e a r e n d in g J u n e 30—
1907-08
O p e ra tin g re v e n u e ____________________ * 2 ,2 0 4 ,0 6 9
764,691
O p e ra tin g Incom e a fte r t a x e s .
091,161
T o ta l net In co m e --------------------------592,048
In terest a n d re n ta ls............... ..........
64,167
D iv id e n d o n p referred ( 5 % ) _____
159,405
D iv id e n d o n c o m m o n ( 4 % ) ____
87,211
.D e p le te d fre igh t e q u ip m e n t, &c
1006-07.
* 2 ,2 7 7 ,6 3 7
816 ,446
1 ,061,306
506,085
64,167
159,405
In c. ( +) or
D e c . (— ).
— *73,568
— 51,755
— 7 0 ,1 4 5
— 4,0 3 7
+ 8 7 ,2 1 1
B a la n ce , s u rp lu s ____________________
* 8 8,239
$241,559 — $15 3,32 0
P r e s ., H . I . M iller; V Ice -P re s .. C . W . H illa rd : S eo a n d T r e a s ., G ilb ert
S. W r ig h t.— (V . 8 7 , p . 1155.)
F A L L B R O O K R A I L W A Y .— See G e n e v a C orn in g & S o u th e rn R y .
J u l y , 1909. |
RAILWAY STOCKS AND BONDS.
55
R A IL W A Y
5(5
STO C K S
A N D
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b les
[V O L. L X X X IX .
BONDS.
M ile s
of
R oad
...
Florida East Coast— 1st M $12,000,000 gold Ba.xc*r*
General Income m ortgage, $25,000,000 ------------------60
Florida W est Shore— 1st M $2,000,000 gold guar p & 1
26
Fonda Johnstow n & Gloversville— Cons M $500,000.c
26
First consol refunding mtge $700,000 gold ------ N.c*
26
General refund mtge $1,500,000 (V 71 p 3 4 ) .. N.c*
4
Johnstown G & Klngsboro first mortgage assumed.
14
C ayadutta Elec 1st M guar p & 1 by F J & G g o ld .. N
75
First cons gen ref M $7,000,000 g red 120. . N.c*&r
163
Ft D Des M & So— lstM $3,500,000 g red 105(text)OB
R efunding mtge $6,500,000 gold red par ( t e x t ).. AB
163
Fort Smith & Western— 1st M $7,500,000 gold --M e.c*
98
Fort Wayne & Jackson— Preferred stock 5 )4 % rental
Ft Worth & Denver City— Pref stock “ stamp certs” 4s
First mortgage gold $18,000 per mile..............M e .c *
455
Equip trust certs guar due $39,000 s-a redeem 1 01 ..
clo
do Series B due s-a redeemable 101____G
Fort Worth & Rio Grande— See St Louis & San Fran cisco
74
Gainesville Midland— First M $1,000,000 g red at 110
256
Galveston Harrisb & San Antonio— 1st M gla n d gr.c*
671
W estern Division first mortgage gold ____________ c*
56
Galv Hous & N or first mtge (owned by South P a c).
91
N Y T ex & Mex 1st M gold $ or £ guar by So P .F .c *
91
do
do
do
not guaranteed__
50
Galveston Houston & Hend of 1882— First M-.Me.e*
D a te
of
B onds
1909
1909
1904
1881
1897
1900
1893
1892
1902
1907
1907
1904
_
1881
1906
1907
1905
’71-80
1881
1900
1882
1882
1883
1908
16 1899
75 1885
S iz e , or
Par
V a lu e
A m ount
O u ts ta n d in g
1,000, &c $10,000,000
4)4 S
t20,000,000
755,UUP
5 g
1 ,000
6
200,000
100 &c
500,000
4)4 g
1 ,000
800,000
1,000
4 g
6
50,000
1 ,00<>
6
350,000
1,000
4,687,000
1,000
4)4 g
2,200,000
5 g
1,000
2,800,000
5 g
100 &c
6,240,000
4 g
1,000
2,291.416
5)4
100
2,539,992 4 In 1909
100
8,171,000
1,000
6 g
5
390,000
301,000
5
1 ,000
661,000
4,756,000
13,418,000
800,000
1,465,000
£ or $
53,000
£ or 5
2.000,000
1,000
1,006,000
500.000
1,000
3,500,000
1,000
1,000
1,000
1,000
Galveston Terminal— 1st M $5,000,000 auth gu (text)
Genesee •'< Wyoming RR— First M gold $500,000 — "
Geneva Corning & So—Pine Creek 1st M gu p&l end
First and refunding mortgage ($10,000,000 auth)..
See Se aboard A ir Line R y
Georgia & Alabama— Georgia Carolina & North
85
53
227
Georgia & Florida mortgage $12,000,000 gold ____c*
Georgia Florida & Alabama— First mortgage g . . Ala c* T ext
98
Georgia (Midland Ry— First M gold $1,650,000 lut g
Georgia Pacific— See Southern R y
307
Georgia Railroad & Banking Co— S tock..................
Bonds refunding not mortgage currency— ......... c*
-
R a te
%
1906
1907
1905
1907
1904
1896
1,000
500 &c
1.000
1,000
1897
100
1 ,000
1,000
600,000
See text
212,000
See text
1,732,000
1,650.000
W hen
P a y a b le
J
&
W h ere P a y a b le, a nd by
W hom
D New York
& .1 See text
J
A & O Imp & Trad Nat Bk NY
&
.1 New Y ork Trust Co N Y
J
do
do
J & J
,T & .) M etropolitan T r Co N Y
A & <> Farmers L & Tr Co N Y
M fe. N New Y ork Trust. Co N Y
& J July ’ 08 coup last paid
J
A & O In default
A & o Mercantile Tr Co, N Y
M & s Farmers L & 'l'r Co N Y
Y early Morton Trust Co N Y
,T & D Mercantile Trust Co N Y
J & r>
A & 0 Guaranty Trust Co N Y
M
F
M
J
A
A
A
& N Savannah Ga
& A So Pac Co N Y ; & Boston
& N So Pac Co 120 Bway N Y
do
do
& J
& O So Pac Co N Y ; & Lond
do
do
& O
& 0 Mercantile Trust Co N Y
A
J
*
&
5
5
5
5
5
3
M
J
A
M
J
A
&
&
&
&
&
&
June 1 1959
Jan 1 1934
A pr 1 1921
July 1 1947
July 1 1950
July 1 1913
Oct 1 1922
N ov 1 1952
Jan 1 1932
Apr 1 1937
Apr 1 1954
Moll 1 1900 2 H
Feb 23 1909 4%
Dec 1 1921
Dec ’ 09-June 14
Oct ’ 00-Apr ’ 17
N ov
Feb
May
Jan
Apr
A pr
Anr
Mch
o K nickerbocker'rv Co N Y Apr
D Grand Central Sta, N Y Dec
5 g
6 g
5 g
5 g
4 g
4 g
5
6
5 g
6
4
g
g
g
g
g
g
R on d s— P r in c i
p a l, W h e n D u e .
S to c k s — L a st
D iv id e n d
11935
1 1910
1 1931
1 1930
1 1912
1 1912
1 1913
1 1938
1 1929
1 1932
1050
s Mackay & Co New York Mch 1 1946
D
O
N
J
O
1957
do
do
Hanover Nat Bank N Y7 Apr
International Tr C o., Md N ov
Manhattan Trust Co N Y July
J P Morgan & Co N Y Apr
4,200.000 11 In ’ 08
Augusta Ga
Q— J
& J New York or Augusta
5
J
1,000.000
1
1
1
1
1955
1957
1954
1946
July 15 1009 2 %
Jan 1 1922
FORT DODGE DES (MOINES & SOUTHERN R R .— Owns or controls
road from Des Moines, la ., to Fort Dodge and extensions to Rockwell c it y
and Newton, with 7-mile branch to Ames and local lines In Fort Dodge and
Ames, all equipped for steam service, and the main line between Des Moines
and Fort Dodge, with branch to Ames, a total of 90 miles, also with electric
power for high-speed passenger service. Of this. Newton to Rockwell C ity,
102 miles, was the Newton & Northwestern R R . See V. 85, p. 98, 1209;
V. 87, p. 1420; V . 88, p. 101.
S T O C K .— Comm on stock, authorized, $5,500,000; outstanding, $2,000,
000; pref. 5% non-cum ulatlve, $1,200,000: all Issued.
B O N D S.— The first 5s of 1907 ($3,500,000 authorized) are outstanding
at present at 514.000 per mile and the refunding 5s, of which 53,500,000 are
reserved to take up the first 5s at $17,000 per mile. Mortgages cover 3,218
acres coal lands. V. 85, p. 98; V . 87, p. 1420. Coupons are In default.
Pres., Henry Lorlng; Y.-P . and Treas.. F. A. Farrar; S ec., Laurence
H . Parkhurst.'— (V. 85, p. 1209; V . 87, p. 1420; V . 89, p. 162.)
FORT SMITH & WESTERN R R .— Operates F ort Smith, A rk ., to Guth
rie, O. T ., 216 miles, of which Coal Creek. I. T ., to Guthrie, 196 m ., Is
owned and Ft. Smith to Coal Creek, 20 m .. Is Kansas City Southern track
age, to be replaced by com pany’s own road. Coal properties are developed
at McCurtaln, I. T ., 40 m. west of Fort Sm ith, producing an average of
F ITZG ER A LD OCILLA & BROXTON R R .— Owns Broxton to Ocll’ a, 30,000 tons per month. In July 1906 acquired 51% of the capital stock of
G a., 25 miles, with branch to Fitzgerald, 5 m .; leases Ocllla to Irwtnvllle, the St. Louis El Reno & Western R y .. Guthrie to El R eno, O. T ., 42 miles.
10 m .; total, 40 m. Successor May 1907 to the Broxton Hazlehurst tc The latter Is operated Independently.
______
„„„
Savannah. V . 84, n. 1551. Stock. $300,000. all outstanding: par, $100,
Stock. 55,000.000, all outstanding: par $100. Of the 4s of 1904 ($7,500,
o f which three-fourths, together with all the $150,000 outstanding bonds, 000 a u th .), $5,833,000 were Issued In exchange for 55,000,000 old 5s,
are owned by the Atlanta BIrm. & Coast C o., the construction com pany of $ 1 0 0 , 0 0 0 are reserved to replace the 2 0 miles of trackage mentioned above,
the Atlanta BIrm. & Atlantic R R . V . 88, p. 41.
$400,000 for equipment and the balance for other purposes. Equipm ent
In May 1909 a general protective com m ittee for securities of the A. B. & trust notes outstanding June 30 1908, $459,000. V . 77, p. 88.
Atl. requested deposits of both stock and bonds,with a view to reorganiza
E A R N IN G S.— It m o s .,\1908-09..........Gross, $598,550; net, $24,133
tion and consolidation: Manhattan Trust C o., N. Y ., and Old Colony Trust
Julv 1 to May 31.
(1907-08...........G ross,
615,526; net, 103,003
C o., Boston, depositaries. V . 88, p . 1190.
, .
For year ending June 30 1908. gross, $647,957; net, $87,908; other Income,
Year ending June 30 1908, gross, $o9,456: net, $o,148; int., taxes, & c., $72,991: Interest, taxes, & c., $314,144; bal., d ef., 5152,245. In 1906-07,
$15,412: bal., d ef., $10,264. V . 85, p. 468. Pres, and Gen. Mgr., II. C. gross, $684,337. Pres, and T reas., A. C. Dustin, Cleveland; O .— (V. 83,
M cFadden; Sec. and Treas., C. B. G w yn.— (V . 88, p 1196; V. 89, p. 41.)
p. 213, 271.)
FLO R ID A CEN TRAL R R .— Owns T h on asvllle. Ga . south through
FORT W AYN E & JACKSON R R .— Owns Jackson, M ich., to Fort W ayne,
timber lands to Delph, Fla.. 47 miles; com pleted April 1908. Projected
[n d .. 98 miles. On Aug. 24 1882 leased perpetually to Lake Shore & Michi
to run eventually to the Gulf of M exico, a total of 6o miles. Controlled bv gan Southern at a rental of 5126,027, equal to 5 )4 % on the pref. stock (see
J. L . Phillips Co. Stock, $50,000; par, $100. Bonds mature $40,000 V. 56, p. 812), and after 1887 any net earnings over 8% on pref. stock to be
yearly; Bank of Thom asvllle, trustee. V . 85, p. 1339. Pres., J. L. Phil paid on com ., but not exceeding 2% a year. Com. stock, $436,132.
ips; V .-P ., J. S. Gordon: Treas., Charles Philips, Jr.— (V. 85, p. 1339.)
FORT WORTH & DENVER C ITY R Y .— (See M a p C o l . S o . ) — Ft. W orth.
FLOR IDA EAST COAST R Y .— (S e e M a p . ) -J ack son ville, Fla., via St. T e x ., to Texllne, 454 miles. Owns securities of F t. W . & Den. Term . R y.
STOCK, & c . — Colorado & Southern R y . owns all but $88,822 of the
Augustine to K night’s K ey, 477 m .; branches, 97 miles: total, 574 m. V.
69, p. 591. System owned b y Henry M. Flagler. Extension from .Miami $6,835,008 com . Issued and all of the stamped stock. V. 6 3 , p. 1063
D IV ID E N D S .— On pref., 2% ’ 98; ’ 99, 2 % ; 1002. 2 % ; April 1903, 1904,
to Itcy West (90 miles from Havana, Cuba), about 156 m ., (whence ferry
boats to operate to Havana), Is under construction; opened to Knight’s 1906 to 1909, 4 % each from surplus earns, of previous years.
BONDS. -F inances readjusted in 1896. Plan V. 63, p. 75. Abstract
K ev, 111 miles: remainder to be com pleted b y Jan. 1 1911. V. 81, p. 211;
of mortgage, V. 45, p. 440. Equipment trust certificates o. 1906, V. 82,
V . 85, p. 921; V. 86. p. 228; V . 87. p. 1478.
Stock was $1,000,000, but additional stock was Issued to provide part p. l l o i ; of 1907, V. 84, p. 508. “ Pullman” equipment leases, Including
of cost of road and H . M. Flagler has agreed to purchase $4,000,000 to
'" T h e V o r ” Worth l&°Denver Terminal R y . authorized an lssucof $2,500,000.
com plete construction of road to K ey W est.
Of the first 4 'A s of 1909 ($12,000,000 authorized Issue), $10,000,000 were 30-year 6 b on d s dated D ec. 1 1007 (Mercantile Trust; C o .. N . Y trustee
sold to J. P. Morgan & Co. In June 1909. Of the general mtge. Income
bonds ($ 2 5 , 0 0 0 , 0 0 0 auth. Issue), about $2 0 ,0 0 0 , 0 0 0 have been Issued to
retire outstanding notes and bonds and for construction. V. 88, p. 1620.
Of the $5,080,000 3-year 6% coupon notes dated Aug. 1 and Aug. 15 1907,
P res.' Gco~ B. Harris.— (V . 82, p. 1156; V. 84, p. 508.)
of which 53,500,000 mature Aug. 1 1910 and $1,580,000 Aug. 15 1910,
guaranteed prln. and Int. b y H. M. Flagler and secured b y pledge of $7,
G A IN ESVILL E M ID L A N D R Y ,— S e e page. 169.
258,000 1st mtge. bonds, about $4,000,000 had been purchased by the com
H A RR ISB U R G & SAN ANTfJNIO R Y .— GSee M a p S o u th .
pany In July 1909 and cash deposited with the trustee to retire remainder. P aGALVESTON
c i f i c . ) — Owns Galveston, via Houston, l e x ., to east bank or Rio Grande
V . 85, p. 220; V. 86, p. 228.
River. 833 miles; Beevlllc to Rosenberg, 147 miles; San A ntonio to I ort
E A R N IN G S.— 11 m ps., 1 1908-09------Gross, $3,070,805; net, $1,074,409
Lavaca, 136 miles; Magers to W est Shore, Galveston
rollesjP ort
July 1 to May 31.
J 1907-08------Gross, 2,753,730; net,
614,753
Lavaca, Stockdaie to Cuero, 46 miles, com pleted July 1906, btanches, 1/8
For year ending June 30 1909 (2 months estim ated), gross, $3,318,320; miles’ trackage 3 m .- total 1 343 miles. Southern I aclflc Co. owns $27,
net over taxes, $1,008,601. In 1907-08, gross, $3,008,346; net, $489,669. 056.600 of the $27,084,372 stock (par 5100). A consol■‘ at'on In 1905 with
Pres, and Gen. Mgr., J. R . Parrott.— (V . 88, p. 1002, 1253, 1620.)
the New York Texas & Mexican, Gulf Western !exa s & Pacific, San A n
FLOR IDA WEST SHORE R Y .— Turkey Creek, Fla on Seaboard Air tonio & Gulf, Galveston H ouston <fc Northern and Gonzales Branch R R .
V. 79, p. 2642; V. 80, p. 1424; V. 81, p. 211, 668, 1242, V . 83, p. lo2 8.
Line, to Sarasota on the Gulf of M exico, 56 miles. Including 4 m. of track
age with branches, 14 m .; total. 70 m. Stock authorized, $1,000,000, of Stock Is to be Increased and new mortgage made: not arranged In June 1909.
B O N D S .— First mtge. has a sinking fund of 1 % . but It Is optional with
which $500,000 outstanding, all owned b y Seaboard A. L.; par of shares,
$100. Under contract of 1903 the Seaboard A. L. Is a preferred connection holders to surrender their bonds If drawn. W e s t e r n Dlv. 2ds (Sft 354 000)
and guarantees the outstanding bonds. V. 80, p. 1478; V. 77, p. 695. b y agreement are treated as Income bonds; V . ,>8 , p. 719, V . 84, p. 803; V . 88,
For year ending June 30 1908, gross, $124,011; net, $11,684; deductions, pi 1437. E quip, bonds, $1,558,000 6s, owned b y So. Pac. V . 76, p. 1300;
V 77 d 2160
Southern Pac. Co. proprietary companies and sinking funds
$70,812; bal., d ef., $59,128.— (V. 80, p. 1478.)
also own $8 12 000 Matagorda Dlv. 1st M. 6s of the old New York
FONDA JOHNSTOWN & G LO VE R SV ILLE R R .— Owns Fonda to of latter
& Mex. R y .. $2,224,000 Gulf W est T ex. & Pac. 1st mtge. 5s, 5800,000
N orthvllle (steam ), 26.2 miles; Gloversville to Schenectady (electric), 32.3 Tex
Houst’. & Nor. 1st mtge. 5s and $1,110,000 out of a total of $6,354,000
m .; Gloversville to Fonda (electric), 9.34 m .; Amsterdam to Hagaman Galv
est Dlv M & P. E xt. 2d mtge. 6s; $1,000,000 G. II. & S. A . East. Dlv.
(electric), 3.6 m .; Belt line In Gloversville (electric), 3.9 m .; second track W
(electric), 21.2 miles. Operates under lease branch line Broadalbln Jet. 2d 6s (extended), due June 1 1935, are also owned by So. Pac. or sinking
to Broadalbln, 6.2 m. (steam); also local line Gloversville to Johnstown tU E A R N IN G S " - I t m os., 11908-09----- Gross, $9,250,547; net, $2,646,901
(electric), 4.23 m .; sidings and turnouts, 11.7 m .; total, 97.47 miles of road
July 1 to Mav 31.
/1907-08------Gross, 9,812,400; net, 2.074,186
(118.67 miles of track), of which 96.87 on p r iv a te right of way and 21.8
E A R N IN G S .—‘For year ending June 30 1908: Gross, $10,690,781; net.
miles on street and highways. Stock, com ., $2,500,000: pref., 6% cum ., Incl.
other
Income,
$2,255,835:
charges, $2,972,071: bal., def.. $716,236.—
$1,000,000, subject to call at 105, authorized Feb. 1909, of which $500,000
(V. 81, p. 668, 1242; V . 84, p. 803; V. 86, p. 1343; V . 88, p. 143/.)
sold Apr. 1909. V. 88, p. 883. First dlv. (quar.) on pref., 1 )4 % , paid
GALVESTON
HOUSTON
&
HENDERSON R R . OF 1882.— Owns from
June 15 1909. Par of all stock, $100.
,
_
, . ,
Galveston. T e x ., to H ouston. T e x ., 50 miles.
.
_„
ow n s entire $lu5,0U0 stock of Coal Co. of Fulton Co. and stock of Edison
O R G A N IZ A T IO N .— The M. K . & T . and International & Great Northern
Electric Light & Power Co. (V. 71, p. 1107.) V . 78 p. 29. Also a twothirds Interest In stock and bonds of Adirondack Lakes Traction C o., 4 miles. have had trackage rights since Dec. 1895 under a contract providing for pay
B ON DS.— Of the consol. 4 Hs of 1902 ($ 7 ,0 0 0 , 0 0 0 authorized), $1,850,000 ment to mtge. trustee of $100,000 yearly to meet Interest on O. H. & II.
Is reserved to retire prior liens. V . 76, p. 265. Guarantees $30,000 G lov bonds and an additional rental of $24,000 per annum for dividends or other
ersville & Broadalbln 5s and $50,000 Johnstown Gloversville & Klngsboro purposes—see V. 61, p. 1064; V. 63, p. 697. M. K . & 1 . owns 4,999 shares
of G. H. <Sc II. stock— see V . 61, p. 1013.
Horse R R . 6s and $50,000 8% stock.
Stock. 51,000,000; par, $100. Dividends paid In May 1904 to 1906. 4%
LA TE ST E A R N IN G S.— 11908-09.............. Gross. $704,134; net, $379,229 yearly; 1907 and 1908, none. For year ending Dec. 31 1908, gross, Includ
11 m os., July 1 to May 31.J1907-08.............. Gross, 713,853; net, 363,303
ing $124,000 for trackage, as above, $310,820; net. $61,677; other Income,
R E P O R T .— For year ending June 30 1908, gross, $777,475: net, $381,1 in; $149,453; Interest, $100,000: other charges. 551,067; Improvements, $51.
other lnc., 517,324; charges. $370,837: b aL .su r.. $27,597.— (V 88, p 1 99 ) 953; bal., sur., $8,110.— (V. 65, p. 1114.)
FITCHBURG R R .— System extends from B oston, Mass., to T roy ana
R otterdam , N. Y ., 251 miles: branches to W orcester, Bellows Falls, & c.,
207 m .; 458 m. In all, of which 59 m. (Fitchburg to Greenfield) leased from
Verm ont & Mass, and 5 m. from other cos.: second track 199 m. In Feb.
1908 purchase of Conway (Mass.) Street R y . was com pleted. V . 84, p.1366.
L E A S E .— Leased for 99 years from July 1 1900 to Boston & Maine for 5%
on pref. and 1% on com . stock, payable quarterly (Jan. 1, & c .), organiza
tion expenses, Interest on bonds, taxes, expenses of maintenance, & c . The
Boston & Maine holds $5,454,550 of the $7,000,000 com . stock, purchased
with proceeds of Its 3 % bonds at 90, the remainder being In the treasury.
V . 70. p. 76, 125, 176, 583, 1291: V . 71, p. 29. 543; V . 72, p. 532.
B ON DS.— Debentures described In V . 60, p. 967. V . 84, p. 158, 270.
In March 1908 $2,400,000 bonds were sold to refund the $2,000,000 bonds
due May 1 1908 and to double-track road between T roy and Johnsonvllie,
N. Y ., and for other Improvements. V . 86, p. 668, 794, 1042. Stock
holders on Sept. 30 1908 authorized $500,000 bonds to refund the $500,000
notes maturing Jan. 15 1909 and to Increase the preferred stock by$700,000,
(of which In Apr. 1909 $550,000 was sold to provide for lmpts. and the pur
chase of the Conway Electric St. R y . V . 87, p. 812; V . 88, p. 100, 374,
451, 944, 1002.— (V . 88, p. 451, 944, 1002.)
J u l y , 1909. J
R A IL W A Y
STO C K S
A N D
BONDS.
R A IL R O A D S
F o r e x p la n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b les
G eorR R & B ank.C o— (Con)— Bonds not m c u r .. c* Ar
Bonds not mortgage $200,000 5s__________________
Bonds not mortgage cu r_________________________ c*
Georgia Southern & Florida— First pref stock redeem
Second preferred $1,084,000 5 % -------------------------First mortgage gold $4,000,000----------------- MeBa.c
First consol mortgage $10,000,000 gold ------ N c ’ Ar
Equipm ent trusts Ser A and B $39,000 due seml-ann
G ettysburg & Harrisburg— South Mt first m ortga ge..
Gettysburg & Harrisburg first mortgage old Issue..
Consolidated mortgage $565,000 gold (see t e x t ) ..
Oila Valley Globe & Northern— 1st M gold ( t e x t ) ..Alp
Goshen & Deckcrtown— 1st & 2d M ($60,000 are 2ds)
Go'uvcrneur & Oswegatchie— 1st M gold gu p A l.U n .c
Grand Rapids & Indiana R y— Stock $6,000,000-------First M mostly land grant gold extended in 1809.c*
First M extended gold guaranteed by Penn R R ..C *
Second mortgage $5,000,000 gold ------------------------ c*
Grand Rapids & Northw— 1st M $5,000,000 g o l d ..G P
Orand Trunk Pac— First M £ guar Can Gov (text) .c A r
Prairie Section M (Ser A) £2,100,0001guar p and I
Mountain Sec M (Ser B) £2,050,000) by Grand
Lake Superior Dlv 1st M $1,550,000J
Trunk
Debenture stock $25,000,000 red at 105 after 1936
Loan, $ 1 0 ,0 0 0 , 0 0 0 , secured b y M on Prairie section
Gr Trk Pac branch lines M guar, see te x t......... ..........
Grand Trunk R y — Consolidated stock £23.318,309..
4% guaranteed stock non-citmulative £12,500,000.
First preference 5% stock £3,420,000_____________
Second preference stock £2,530,000________________
Third preference 4% stock £7,168,055____________1
Debenture stock £4,270,575----------------------------------- |
Consolidated debenture stock (collateral trust) cum )
Second equip mtgc (subject to first m tg in trust) _c J
Great Western perpetual debenture stock ......... ...... c
Northern R y third preference A & B bonds____c\
Debenture stock 4% perpetual £425,850____
J
Midland of Canada cons 1st M £3,164,700 .
c
New England Elev 1st M g gu due $10,000 yearly
M ile s
of
R oad
S iz e , o r
Par
V a lu e
T ext
285
392
35
125
12
13
335
335
387
1.755
916
839
188
1007
1895
1902
’02-06
1877
1882
1891
1894
88-89
1892
1891
1891
1896
1908
1905
1905
1905
1905
1909
1909
1882
1884
73-74
73-74
1-----3,512 11874
)1874
J1869
836 J4 Var
490 H J1868
11884
1882
1901
1,000
$1,000
1,000
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 Ac
1,000
100
1,000
1,000
1,000
1,000
£100 Ac
£100 Ac
£100 Ac
£100 Ac
£100 Ac
£100
£100
£100
£100
£100
£100
£100
£100
£100
£100
1 .000
GALVESTON TERMINAL RY.— T o build terminals at Galveston, T ex.,
to be used by Trinity A Brazos Valley R y ., which owns practically all the
stock. V . 87. p. 950. Owns alargefrelglit depot and warehouse and about
14 blocks along Galveston water-front. In A pr. 1908 27 miles of main line and
sidings were practically com pleted. Stock auth., $25,000. Of the 1st 6s
($5,000,000 auth. Issue)I, $1,106,000, guar. Jointly by the Ch. R . I. A P. and
c o l . & S o., were sold In N ov ’08. V . 86, p. llOO. 1589; V. 87, p. 1478. Pres.,
R . H . Baker; V .-P ., John Sealy.— (V. 86, p. 1100, 1589; V. 87, p. 936.)
GENESEE & WYOA1ING R R .— See page 169.
■p
? SOUTHERN.— Owns Geneva, N . Y ., to Antrim,
P a ., 109 miles, branch to Ulysses, P a ., 40 miles; Stokesdale J et., P a., to
N ew beriy Jet., 7d m .; Penn Yann, N. Y ., to Dresden, 6 m .; other branches,
£
es’ . A consolidation In Feb. 1909, V. 88. p. 1002. Stock,
corn-. $2^ 25,000; pref., 4 % cu m ., $5,000,000; par, $100. Leased to N. Y .
Cent. A Hud. R Iv. R R . from April 1 1909 for the term of Its corporate e x
istence, or any extensions thereof, the rental covering 4 % on the pref. and
a dividend on the com . stock (3 /4 % at first). V . 88, p. 822, 1061. The
I lne Creek 1st 6s are guaranteed b y the Reading and N. Y . Cent, join tly and
severally. See form of guaranty, V. 56. p. 650. The road Is mortgaged to
secure an authorized Issue o f $10,000,000 50-year 4 % bonds o f the N. Y . C.
A H. R . R R . assumed b y the Geneva Corning A Southern, to be used to
J"nnre» ou*s^andlng Indebtedness and bonds for Improvements. In July
1909 $3,744,000 bonds were authorized to be Issued for Improvements and
retirement o f $600,000 Syracuse Geneva A Corning second mtge. bonds.
V . 88. p. 1127. 1313; V . 89, p. 162.— (V. 88, p. 1313: V . 89, p. 162. 224.)
„ GEORGIA COAST & PIEDMONT R R .— Extends from Darien to Collins,
G a., 85 miles; com pleted In July 1906. Stock, $1,000,000. The con
solidated 40-year 5s (limited to $3,500,000) are issuable at $10,000 per
mile and $2,000 per mile additional for equipment when the property has
earned 50% In excess of Interest charges; $200,000 m ay be used to acquire
terminals, sufficient of the Issue being also reserved to retire the 1st 5s.
V. 82, p. 804. In O ct. 1907 the com pany was authorized to Issue $2,570,000
consols for various purposes. Including $1,000,000 to retire the first 5s.
y,,-.8 5 \p - 1143-, , There are also $175,000 10-year 6% Income debentures due
1918, Int. payable Sept, yearly If earned. Year ending June 30 1908, gross,
$65,023; net, $1,512; charges, 534,684; bal., d ef., $33,172. Pres., Donald
M ackay.— (V. 82, p. 804; V. 85, p. 1143; V . 88, p. 624.)
GEORGIA FLORIDA & ALABAA1A RY.— Owns Cuthbert, G a., to Talla
hassee, I-la., 107 m .; Tallahassee to Carrabelle, on the Gulf of M exico, 51
m .; branch, Havana, Fla., to Quincy, 12 m .; total, 170 miles. Also oper
ates steamer line from Carrabelle to Annalaehlcola. Fla. Stock, 5350,000;
par, $100. In June 1909 President W illiams, It was reported, purchased
1 1 0 ''.T stPc c ,an<* Practically all of the outstanding bonds. V . 88,
p. 1437. Bonds, see table above. Loans and bills payable June 30
1908, $248,988. The stockholders on 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 Oct. 1908.
For year ending June 30 1908. gross, $171,703; net, $31,571; Int. and
taxes, $97. 37: balance, deficit. 558.368. Pres J p Williams- See and
T rcas.. J. L. Nlsbet. Office, Savannah, Ga.— (V. 88. p. 1137.)
GEORGIA & FLORIDA R Y.— Projected from Augusta, Ga., to Madison.
F la., 40 miles from the Gulf of Mexico, with branches. Including one to
Savannah, of which 256 in. In operation, about 0 1 m. connecting lines
being under construction; total to be 347 m. A consolidation In Aug. 1907
of the Douglas Augusta A Gulf, Mlllen A Southwestern and other roads
acquired b y a syndicate organized by M lddendorf, Williams A Co. and Intcrnat. Tr. Co. of Maryland and John L. Williams A Sons of Richm ond Va
V . 82, p. 1211; V . 85, p. 345; V . 87, p. 480, 936, 1533: V . 88, p. 681. Had o p
tion on 45% of stock of Savannah A Statesboro R y., 53 m ., lncl. 20 m. track
age. Capitalization to be: Com. stk., $15,000, and non-cum . pref., $10,000
per mile. A fter 4% on pref., com . Is to be entitled to 4 % , then pref to
2% additional, then com . to all other earnings. Bonds to be limited to
$12,000,000 at $20,000 per mile, of which $5,000,000 underwritten In Julv
1007. V . 85, p. 221, 530. Report for year ending June 30 1908 in V . 88,
p. 681, showed, gross, $303,115; net Income. $46,580; charges, $35,236bal., sur., $11,344. Pres., John Skelton Williams; Sec., C. T . W illiam s’
Trcas., F . E. Noltlng; Gen. M gr., J. M. Turner.— (V. 88, p. 681.)
GEORGIA M IDLAN D R Y .— Owns road from Columbus to McDonough
G a., 98 miles. Leased from July 1 1896 for 99 years to the Southern R ail
way Co. for $40,500 annual rental (being Interest on the 1st mtge. bonds
A c.) and $2,500 for Columbus terminal property. Stock Is $1,000 000’
owned b y Southern R y . C o.— (V . 63, p. 361; V . 82, p . 751.)
’
,, GEORGIA R R . & BANKING CO.— Owns from Augusta, Ga., to A tlanta,
Ga., 171 m .; branches to W ashington and Athens, 58 m .; Macon A Augusta
P P ’i SS2Pr letary roa d ), Camak, G a., to Macon, G a., 74 m .; trackage, 4 in.;
total, 307 m. Owns 50% stock of Western R y . of Ala. (the Central of Ga
R y . owning the other half); also a 47% Interest In A tl. A W est Point.
L e a s e .— I n 1881 roads leased for 99 years to W . M. W adley et a t for the
Cent, of Ga. and the Lou. A Nash., at $600,000 per year, but In April 1899
V»e Loulsv. A Nash, was held to have acquired all rights under the lease;
Atlantic Coast Co. July 1899 acquired half Interest. V . 68, p. 722; V . 6 9 ,
p. 385, 591; V . 70, p. 125. Tax decisions, V. 85, p. 160, 1339; V . 86, p. 981.
Car trusts, $138,994. There have been sold $1,000,000 40-year 4 % deben
ture bonds to refund the 6s due Jan. 1 1910. V . 87. p. 226. 285
Owns
a m ajority ($198,200) o f stock o f “ Georgia Railroad B an k.”
D IV ID ’ DS.— 11881. 1882. 1883 to 1887. 1888. 1889 to July 1000.
10H
10 yearly
10H
lly e a r lv
Since 1880------% f OX
„ E A R N IN G S (307 miles.— (1 90 8 -0 9..G ross, $2,571,853; net, $475,507
July 1 to May 31, 11 m onths .\ 1 9 0 7 -0 8 ..Gross, 2.732,087; net. 385 458
Railroad earnings for year ending June 30 1908, gross, $2,923,277; net,
$385,609; other Income, $55,496; rental to Ga. R R . A B. C o., $600 000Macon terminals, $4 0 ,0 0 0 ; other paym ents. $85,002; tax on W est. R R . of
Ala. stock, $335,000; bal., deficit, $585,978.— (V. 88, p. 1372, 1437.)
GEORGIA SOUTHERN & FLORIDA R Y .— (S e e M a p o f S o u th e r n U
—
Owns from Macon. G a.. to Palatka, Fla., 285 miles: on N ov. 1 1002 pur
chased A tl. V . A W . R y ., Valdosta. Ga.. to Jacksonville, Fla., 107 milestrackage Into Jacksonville. 3 m .: total, 395 miles. Also owns one-elehth
of stock of Jacksonville Terminal C o. V . 77, p. 626.
57
IN T E R E S T OR D IV ID E N D S
A m oun t
R a te
%
See text
5
5
W h en
P a y a b le
W h ere P a y a b le, a n d by
W hom
B on d s— P r in c i
p a l, W h e n D u e .
S to c k s — L a s t
D iv id e n d
6
J
A J
do
do
5 A 6 J <5c J New York o r Augusta
4
J A J Am Exch Nat B k, N Y
In 1908 M & N M T A D Co Balt: A N Y
In 1908 M A N
do
do
J A J
5g
do
do
J A J
4 g
do
do
M A S Blair A Co New York
4)4
5
A A o Reading Terminal, Phlla
6
A & o
do
do
5
A A o
M A N So Pac Co 120 Bway N Y
5 g
6
Various N Bk Or Co Goshen N Y
j
A D Grand Cent Station N Y
5 g
In 1908 A A O Office Grand R ap , Mich
3/4 g J A J W inslow,LanierACo N Y
4/4 g J A .1
do
do
A A O Philadelphia Pa
4 g
F A A Philadelphia A Chicago
5 g
$ or £ J & J Bank of Mont, Lon A NY
4
A A O ICo’s Office London orl
4
A A O ) Bank of Montreal
i
4
A A o J
New York
4
M A s 9 N Broad St London E C
4
Semi-an
4
M A N N Y , Montreal A London
250.000
215.000
1.504.000
246.500
300.000
5,791,700 3
920.000
4.455.000
4.500.000
.See text
£5,200.000 3
£2,100,000
£1,3 54,0 10
£1,550,000
£3.000,000
See text.
£1,000,010
£22,475,985
£9,840,010 4 In 1908
£3.420.000 5 for ’ 08
£2,530,000 2 J4for’ 08
£7,168,055 See text
£4,270,375
5
£15,234,272
4
£373 ,000
6
£2,723,080
5
£14,600
6
£347,990
4
£1.016,500
5
320.000
3H e
Jan 1 1910
Jan 1 1922
Jan 1 1947
May 15 1909 244
May 15 1909 244
July 1 1945
July 1 1952
Sep '09-Sep 12
Apr 1 1898
Oct 1 1912
Oct 11926
Nov 1 1924
1928-1929
June 1 1942
Apr 26 1909 144
July 1 1941
July 1 1941
Oct 1 1936
Feb 1 1958
Jan 1 1962
Apr 1 1955
Apr 1 1955
Apr 1 1955
Perpetual
1919
1939
None ever paid
A A o Check from Co’s Office ' ’ ay 6 1909 2%
A A o
do
do
May 6 1909 5 %
A A o
do
do
May 6 1909 244
Yearly
do
do
Apr 24’ 08 3%
J A J 14 1
1 Irredeemable
| Irredeemable
J
A J
July 1 1919
F A A IGlyn, Mills, Currie A } Irredeemable
A A O
Co, London
Irredeemable
F A A
Irredeemable
J A ,r J
Jan 1 1912
J
A J
Julv 1910-1941
H IS I OR Y .—-A reorganization of the Georgia S. A F . R a ilr o a d , sold In
foreclosure April 2 1895. (Per plan In V . 60, p. 928; see also V . 5 9 p 5 5 1
Macon A Birmingham R y ., La Grange to Sorkee. G a., 07 m. Is owned by
same Interests, but operated Independently. V . 78, p. 702
In O cto
ber 1903 the stock o f the Hawklnsvllle A Florida Southern R y
W orth
to Hawklnsvllle. Ga., 44 m ., was purchased, $310,000 1st mtge 5% bonds
being guaranteed, orln. and Int. V . 79, p. 2585.
D IV ID E N D S .— On 1st pref., ’ 96, 4 % ; '97 to May 1909, 5% yearly
On
2d pref.. In ’97. 2 % ; ’98. 3 % : '99. 3 % ; 1900 to May 1906, 4% yearly; N ov.
1906, 2 44%; 1907 and 1908, 5 % ; 1909, M ay, 2 44% . Com. stk. Is $2,000,000.
BON DS.— First mtge. of 1895 (Abstract, V . 61. p. 429) provides that the
684.000 lsf p r e f. stock shall be a Hen second only to the bonds and coupons.
The 1st consol. 4s of 1902 are for the authorized amount of $10,000,000.
of which $4,684,000 are Issuable to retire the $4,000,000 5s and $684,000 1st
pref. stock, and $3,316,000 are reserved for future needs. V . 75. p. 980.
L A T E S T E A R N IN G S .— f 1908-09___ Gross, $1,834,787; net, $518,627
11 m os., July 1 to May 31. 11907-08___ Gross, 1,825,950; net, 296,462
R E P O R T .— Fiscal year ends June 30. R eport for 1907-08 In V . 87, p .
1083, showed: Gross, $2,171,837; net. $385,599; other Inc., $12,551: int.
on bonds, A c.. $288,752; d lv. on stock , $88,400. In 1906-07, gross.
$2,273,345; net, $393,136. Pres., W . W . Finley, N . Y .— (V . 87, p. 1083.)
GETTYSBURG & H A RR ISB U R G R Y — Carlisle to Gettysburg. Pa. 31
m.; branch to Round T op, Pa . 3 m. The Reading Co. owns $545,300 of
the $600,000 capital stock; $535,000 deposited under Its gen. mtge. of 1896.
The consol. 5s of 1891 were guar, b y Phlla. A Reading R R . (foreclosed).
GILA V A LLE Y GLOBE A NORTHERN R Y .— Bowie, A rlz.. to Globe,
125 miles. Stock, $2,000,000, all owned b y Southern Pacific Co. V . 71.
p. 1314. Par, 5100. The bonds, limited to $15,000 per mile ($1,504,000
outstanding), are guaranteed, prln. and Int., b y Southern Pacific Co.
V . 69, p. 27; guaranty In V . 68, p. 232.
D IV ID E N D S .— 1 9 0 1 ,4 % ; ’02, 4 % ; '04-05, 2 0 % ; ’ 06-07, 6 % ; ’ 07-08, 6 % .
E A R N IN G S .— 11 m o s .,/1 9 0 8 -0 9 ..............Gross, $928,239; net, $351,337
July 1 to May 31.
11907-08.........— Gross, 965,033; net, 475,822
R E P O R T .— In 1907-08, gross, $1,035,208; net, $452,339; Int. sink. fund.
A c., $221,697; dlvs. (6 % ), $120,000; bal. sur., $110,642.
GOUVERNEUR & OSW EGATCHIE R R .— Owns from Gouverneur to
Edwards, N. Y ., 13 miles. Stock, $350,000, all owned by N. Y . Cent.—
which guarantees the bonds. See V . 55, p. 810, and V . 56, p. 501.
GRAND R A P ID S & IN DIAN A R Y .— (See M a p s o f P e n n s y l v a n i a R R .) —
Owns from Fort W ayne, In d ., to Mackinaw City, 367 m .; branches, 69 m .;
total owned, 436 miles; operates the follow ing roads, but has not assumed
the old com pany’s leases thereof: Cin. Richm ond A F t. W ayne R R ., 86 m .;
Traverse City R R . (nearly all the stock and all the Income bonds owned).
20 m .; Muskegon Grand Rapids A Indiana R R .. 37 m ., Traverse City
Leelanau A Manlstlque R R ., Traverse City to N orthport, M ich., 30 miles
(lncl. 6 ill. trackage), 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 of Grand Rapids A Indiana R a ilr o a d .
foreclosed under second m tge., per plan In V . 63, p 153.
S T O C K .— Stock. $6,000,000, of which Pennsylvania Interests are sup
posed to own all or nearly ail. Penn. Co. on Jan. 1 1909 owned $2,902,600.
D IV ID E N D S .— 1900 1 % ; 1901 2 % ; 1902 to Apr. 1909, 3 % (yearly).
B ON DS.— The 1st m tge. bonds extended at 4 44% are endorsed with the
guaranty of the Penn. R R . Co. to purchase the coupons ns they mature, and
the bond Itself at m aturity. See guar., V . 56, n. 649; V . 69, p. 1193. Of
the seconds, $2,987,000 were owned Jan. 1 1909 b y Pennsylvania R R .
R E P O R T .— Report for 1908 In V . 88, p. 1057. In 1908 carried 2,486,892
tons of freight, of which 36% was lumber, A c., and 18% coal.
Y e a r e n d in g D e c . 31—
190$.
1907.
1906.
1905.
Miles operated_______________
436
426
424
424
Gross Incom e..............................$3,498,148 $4,149,694 $3,900,605 $3 , 6 0 5 , 6 4 9
Net over expenses A ta x e s ..
727,751
801,299
782,094
698,839
Interest and other chargob,$488,270; Improvements. $52,390; dividends,
(3 % ), $173,730; bal., sur., $13,361.— (V . 86, p .9 7 5 , V . 88, p. 1057.)
GRAND R A P ID S & NORTHWESTERN R R .— See page 169.
GRAND TR U N K PACIFIC R Y .— (S e e M a p . ) — This new trans-conti
nental railway across Canada has received the approval of the Canadian
Government and will be carried through with the Joint financial support
of the Governm ent and the Grand Trunk R y . Co. of Canada. It will
consist of a main line of an estimated length of about 3,550 miles, from
M oncton. New Brunswick, to Prince Rupert, B. C ., on the Pacific Ocean,
about 25 miles south of Port Simpson, B. C .. with branch 188 miles, viz.:
1. L e a s e d L i n e , to b e B u ilt b y C a n a d ia n G o v er n m e n t —
M ile s
Eastern D lv., Moncton, N. B .. via Quebec to W innipeg, a b ou t____1,800
(T o be leased for 50 years to Grand Trunk Pac. R y . C o.— for first
7 years at cost of operating only and for remaining 43 years at
3 % on cost of construction) (but see V . 80, p. 997).
2. W e ste r n D iv i s io n , B u ilt a n d O w n ed b y C o m p a n y —
a . Prairie Section, W innipeg to R ock y Mountains, a bou t.................. _ 916
b . Mountain Division, R ock y Mountains to Pacific Ocean, a b o u t .. 839
3. L a k e S u p e r i o r B r a n c h , B u ilt a n d O w n ed b y C o m p a n y —
Thunder Bay on Lake Superior to Junction with Eastern Division,
cast of W innipeg (com pleted In Novem ber 1908.)..............
188
Of the Prairie Section, W innipeg to Edm onton, 793 miles was com pleted
July 1909; from Lake Superior Jet. to W innipeg, 245 miles, and E dm onton
west to W olf Creek, 120 miles, to be com pleted Sept. 1909, making, with
Lake Superior branch, 1,346 miles o f continuous line In operation. On
mountain section construction was begun In 1908 on 100 miles east from
Prince R upert. Contracts have been let on all other portions o f the road
to bo built b y the Governm ent. V . 84, p. 1052; V . 86, p. 794; 1100- V 87
p. 677, 873; V . 89, p. 224.
v
’
v
'
’
*’
O R G A N IZ A T IO N .— Incorporated b y Canadian Legislature In 1903. See
full statement In V . 80. p. 996; V . 81. p. 1315. As to Grand Trunk Pacific
Branch Lines C o., see V . 82, p. 333; V . 86, p. 1100; V . 88, p. 295.
DAWSON
R A ILW A Y STOCKS AND BONDS
la k t 'r -
^ th a b a s c a
• / R ein d eer
S/ M e
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T H E
D TRUNK PACIFIC
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P R O JE C TE D
i^ s
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Lake Edward
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Engadine^
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p^Riviere Ov^ll^
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-^^^Killarney cO»ll»n\lnk
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Gladstoil
rOULXN ISLAND M»«" f
Graode, Piles)
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rs»
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South
iMonson
Ru’ngeley Carret*,ssett
■^inghi
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g g > j
lAUGCSTA
kVlnctol /
'arthage
Midland
iehland
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pchsI2!L
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^
flClarernoW^
Charlestoe J'rsnklin
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BELLOWS fA
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North V.1
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lonteith *®^sxj
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Wellsville
>tcuber/V o—'Y AIvordton
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ludonvllle 'Massilloi
Killl)uck0/Canal
kentol
JCelina /
IBellefontaine
ft.Vernon
Andersol
INDIANA]
HauteV
Gosport
Blpomington
)resden
tnesville
.lexingron
hCorning'
IreenslAirgj
Walston
twrenceb
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■ELINO
Waverly/ Hamden
^meroy^j
' Washlrn
iberland.
iBurton
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Fairmont
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Clarksburg1
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Washington
OOUBLETRACK.
R A ILW A Y STOCKS AND BONDS.
psxk»"u“*T
S_ .
Valentine L.
AVarsat
July. 1909.1
Chapleai
60
R A IL W A Y
STO C K S
A N D
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s ,
o n f ir s t p a g e o f ta b les
A c ., s e e n o te s
M tie s
of
R oad
Grand Trunk Rail w ay— (C o n c lu d e d )
Montreal Warehousing 1st M $1,000,000 gold guar.
66
drand T runk W estern— Northwest Grand Trunk 1st M
First M $15,000,000 lnt guar gold $ (cur) A £ ------ F 326.5
Second M Income gold $1,500,000 redeem (text).T a 326.5
Great Northern— Stock $ 2 1 0 ,0 0 0 ,0 0 0 ..------------ - - - -
624
St P M & M 2d (now 1st M) g (does not cover Ids) .c*
D akota Extension first mortgage gold .......... Ce.c* 1,221
Consol mtge for Know 1st M on lands) g o ld -.C e f 2.655
$ 5 0 ,0 0 0 ,0 0 0 ../
/ 2.655
2.655
420
M ontana E xt 1st M ($25,000 p m) g old ------ C e .c 'A r
818
Pacific Extension M £6,000,000 gold ____ C e .c 'A r
C B & Q col tr M g (sub to call at 105)________ ScAr
do
do
do
registered______
3
Minn Un R y llrst mtge gold assumed_________Ce.c
3
do
do
do
do
_____________
E o fM tn n N oD lv M $ 9 ,7 0 0 ,0 0 0 g assu red _M e.c*Ar
285
Mont Cent 1st M g ($6,000,000 are 6s)assum .C e.cAr
260
W illm ar & Sioux Falls 1st M g assum (end) -C e.c* Ar
433
2
MInneap West M $1,000,000 g assum(V 60 p 835) .c*
132
Spokane Falls A North first mtge gold assum.IVla.c*
Gt North Ry of Can— See Canadian North Quebec Ry
Green Bay & Western R R — Stock (see te x t)__________
Debentures Class A Incomes text non-cum ______ c*
Class B Incomes after 5% on stock n o n -cu m ..c*
Oreene RR (New York)— S tock---------------------------------Greenwich & Johnsonville— 1st M $500,000 g -.S .c A r
Consol M S I ,000,000 gold _______ _________ ________S
Guay & O —Prior lien M gold, red 105 s f _________
1st M origin ally$12,282,000 gold guar (te x t).-U sm
Gulf Beaumont & K C—See Atchison Topeka & Santa
Gulf B & Gt Nor gold p A 1 guar end (te x t)___AB.c
Gulf Line— First mortgage $325,000 gold ____ _____
Gulf & Ship Island—S to c k ________________________
307
First refund and term M gold sink fu n d ..N ,c * x A r *
307
Mortgage gold part due yearly red at 101____ Mpc*
a $11,502,000 additional pledged for Pacific Extens Ion bo
d Subject to call at 105 after April 1028. e $16,000 old 5s
D a te
of
B onds
S iz e, or
Par
V a lu e
1006
1880
1000
1000
$ or £
500 Ac
£100
500
100
1,000
1,000
1,000
1,000
1,000
1,000
£100 Ac
$1,000 Ac
1.000 Ac
1,000
1,000
1.000 Ac
1.000 &c
1,000
1,000
1,000
1879
1880
1883
1883
1887
1890
1901
1001
1882
1882
1898
1887
1888
1891
1889
,
100
1,000
1,000
100
1,000
1908
1899
1,000
1,000
1900
1007
1,000
__
T otal In earnings......................3.536 1 Total roa d ..............
4.768
Car ferry, Grand H aven to Milwaukee. *See separate statement this Co.
As to Grand Trunk Pacific R y .. see that com pany above. V . 79, p. 2587.
On Sept. 30 1905 began operating Canada Atlantic R y . and guar., prln.
and ln t., Its 4 % bonds. V . 79, p. 967, 1331, 1641,2455, 2620; V . 85, p.600.
►
> ST O C K , & c.— The authorized capital on D ec. 31 1908 was £46,436,364
stock (£45.434,051 Issued and £ l,u 0 2 ,3 !3 unissued; advances from the
Canadian G ovt. In aid of construction am ount to £3,111,500. Perpetual
consol. 4% deb. stock authorized by A ct of 1882, and later A cts, has been
Issued from time to time to acquire securities of companies consolidated and
controlled, amounting D ec. 31 1908 to £8,847,965, and bearing an annual
Interest of £456.994. V . 71, p. 84. Shareholders Apr. 21 1909 authorized
an Increase of £2,500,000 In the limit of 4 % perpetual consolidated deben
ture stock a n d o ft h e 4 % guaranteed stock from £10,000,000 to £12,500,000.
V . 88, p. 822, 1194; V . 82, p. 692; V . 86, p. 602, 1100.
In 1906 It was proposed to apply for authority to guarantee Toronto
Union Station Co. bonds. V 82. p. 452. Montreal Warehousing gum mo
teed bonds, V . 83, p. 37. Gr. Trk. Pac. Town A D evel. C o.. V . 8 6 , p. 1042.
D IV ID E N D S —
F o r ’ 98. ’ 99. *00. ’ 01 ’ 02. ’ 03. '0 4 . ’ 05. ’ 06. ’07. *08.
Guaranteed 4% stock %
2
4
4
4
4
4
4
4
4 4 4
First preferred_______ % 3
5
6
5
5
5
5
5
5 5 5
Second preferred_____ % 0
3K 3
4
5
5
5
5
5 5 2 / $
Third preferred_______ % 0
0
0
0
1
2
0
2
3 3 0
As to dividends for 1908, see V . 87, p. 414, 480: V . 8 8 , p . 564.
E A R N IN G S .— 11 m os., 1 1 9 0 8 -0 9 ...Gross, $27,699,143; net, $7,604,880
July 1 to May 31.
J 1 0 0 7 -0 8 ...G ross, 29,195,810; net, 7,569,088
W h en
P a y a b le
W here P a y a b le, a n d by
W hom
O Montreal or London
J Nat Bk of Commerce N Y
A, J Bank M ontreal,N Y A Lon
4% paid 1906-1908
July
Office 32 Nassau St N Y
Q— F
A & n New York and London
M & N 32 Nassau St New York
do
do
.T A J
do
do
.T A J
do
do
A J
J
do
do
J
A D
J &
J N Y A Lond, Baring Bros
4 g
J A J J. P . Morgan A C o., N .Y .
/
4 g
do
do
Q— J
i
4 g
J
J 32 Nassau St New York
6 g
do
do
J
& <T
5 g
A & O 32 Nassau N Y ;L ee,H ,B os
4 g
5 & 6 gJ
& J 32 Nassau St New York
do
do
J A D
5 g
J A J N Y A Lon, Baring Bros
5 g
6
A J Chase National Bank N Y
J
4
6
4 g
Up to4%
7 In 1908
6 g
6 g
6 g
4 /$ g
4 g
A
J
J
A
&
B on d s— P r in c i
p a l. W h e n D u e .
S to c k s — L a s t
D iv i d e n d
Apr 11036
Jan 1 1910
July 1 1950
July 1 1050
Aug 2 1909 1 %
Oct 1 1909
N ov 1 1910
July 1 1933
July 1 1933
July 1 1933
June 1 1937
July 1 1940
July 1 1921
July 1 1921
July 1 1922
July 1 1922
1928-1948
July 1 1037
June 1 1038
July 1 1911
July 1 1939
Office 40 W all Street N Y Feb 8 1009 5%
Feb
5 Feb ’ 09
Feb 8 1909 5%
do
do
Feb
5 Feb ’ 09
Feb S 1900 9$%
do
do
% Feb’ 09
Feb
June 19 1909 3%
6
J
A D D L A W 90 W est St
A J Standard Trust Co N Y Jan 1 1924
J
4 g
6 g
5
100
1902 1,000 Ac
1908
nds
of 189 6 remain outstanding
GRAND T R U N K R Y . OF C A N A D A .— (.See M a p . ) — Quebec, Can., via
Montreal to Chic., Ill ; also to Portland, Buffalo, Detroit. Toledo. <5cc.
SYSTEM P R O P E R .
I
REPORTED SEPARATELY.
M i l e s . I M a j o r ity stock o w n e d .
M ile s .
Lines ow n ed . ________________ 2,952 ICentral V erm ont*..............
531
L e a s e d — p a r tly o w n e d .
IGrand Trunk W estern*.............. 336
A tlantic & St. Lawrence, PortI E n ti r e stock o w n ed .
land,M e., to Island Pond, V t. 165|Detrolt Grand Haven A M U *.. 191
Buffalo A Lake H uron................ 164|Tol. Sag. A Muskegon................
96
Clncln. Sag. A M ackinaw_____
53 | J o i n t l y o w n e d .
Other lines...................................... 202 |Detroit A Toledo Shore L i n e ...
79
R a te
%
1896
1896
S T O C K .— Authorized, $45,000,000 (par of shares, $100 each), of which
the $25,000,000 com m on Is owned b y the Grand Trunk R y.
B ON DS.— The Canadian Governm ent agreed to guarantee 3% 1st mtge.
bonds for an amount up to 75% of the cost of construction of the Western
division, such amount (a) In the ease of the Prairie Section not to exceed
$13,000 per mile, or £3,210,000 In all, and (b) three-quarters of total cost
per mile from the mountains to Pacific Coast, called Mountain Section.
Issue limited to £14,000,000; R oyal Trust C o., Canada, trustee. To July
1909 £5.200,000 had been sold. (V . 80, p. 996, 1234, 1363; V . 81, p. 507,
613; V. 89, p. 224.)
Series “ A ” (Prairie Sec.) 4 % bonds, total Issue limited to £2,100,000, and
Series “ B ” (Mountain Sec.) 4 % bonds, not to exceed £2,050,000, are secured
by a 2d mtge. (National Trust C o.. T oron to, trustee) on the railway,
equipment and tolls of the co., Including Its leasehold Interest In the Eastern
Division, but not branch lines exceeding 6 miles In length, shins, grants of
lands (other than for railway purposes) and the rolling stock of the East Dlv.
or of the above-m entioned branch lines of over 6 miles
These bonds arc
unconditionally guaranteed as to prln. and lnt. b y the Grand Trunk R y . Co.
See form In V . 80, p. 996; also see V . 80, p. 996; V .8 6 , p .7 9 4 .
Although the mortgage to secure the 3% bonds guaranteed b y the Govern
ment ranks before the mtges. securing A and B bonds guaranteed b y the
Grand Trunk R y. of Canada, yet an agreement schedule to an Act of 1904
provides In effect that In the event of default b y the com pany for 5 years In
paym ent of the lnt. on the 3% bonds, the rem edy of the Government shall
be to put In a manager with the concurrence of the com pany to operate the
W estern Division and to collect and distribute net earnings of each particu
lar division p a r i p a s s u between the holders of the bonds guar, by the G ov’t
and the holders of the bonds guar, by the Grand Trunk R y. Co. In the pro
portion of 75% of such earnings to the holders of the G ov’t bonds and 25%
to the holders of the bonds of this division guar, by the Grand Tr’k R y. Co.
In May 1909 the Dom inion Government agreed to loan not exceeding
$10,000,000, repayable In 10 years or at any time on 6 months’ notice,
Interest thereon to be 4 % , payable semi-annually, secured b y the com pany’s
bonds to the same am ount, maturing 1919, guaranteed prln. and lnt. by
the Grand Trunk, under a m tge. on the Prairie Section, subject to existing
prior liens. V . 88,
822, 1194, 1061 1253.
Lake Superior branch bonds, total Issue limited to £1,550,000, are se
cured by a 1st mtge. on all the 1 8 8 -mlle Lake Superior Dlv. and are guaran
teed prln. and lnt. b y Grand Trunk R y . Co. ( V . 80, p. 996.)
In 1909 Acts were passed b y the provinces of Saskatchewan and Alberta,
authorizing the respective provinces to guarantee, prln. and lnt., at the rate
of $13,000 per mile, first mtge. bonds, to be Issued b y the Grank Trunk
P acific Branch IJncs Co. for the construction of new lines, viz., 195 miles
In Saskatchewan and 491 In Alberta, to be worked under agreement b y the
Grand Trunk Pacific R y . Power is given to Issue additional bonds up to
$2,000 per mile, making an aggregate o f $15,000 per mile.
In 1909 obtained authority to guarantee the bonds, debentures or other
securities of Grand Trunk Pacific Branch Lines C o., to be Issued to build
270 miles of road at $30,000 per mile. V . 88, p. 295, 563.
In May 1909 £500,000 (part o f $521,600) guaranteed b y Saskatchewan
and £500,000 (part of £1,313,300) guaranteed b y Alberta were sold. V .8 8 ,
p. 1437, 1372, 822.
D E B E N T U R E S TO C K .— In 1906. $25,000,000 debenture stock was au
thorized, of which $15,000,000 (£3,000,000) lnt.guar, b y the Grand Trunk
R y . under certain conditions (see V . 84. p. 570), to be Issued as perpetual
d e b .stk .' r fthis £i ooo .co o -toldln F eb .’0 7 and £1.000,000additional Jan .’08.
and In Feb. 1909 £1,000,000 was offered at £90 per £100. V . 88, p. 624.
O F F IC E R S .— Pres., Charles M. Hays. Montreal, Can.; Sec.. Henry
Philips; Treas., Frank S cott.— (V . 88, p. 1372, 1437; V . 89, p. 224.)
p.
[VO L. L X X X IX .
BONDS.
5 g
5 g
See text
5g
6 g
j
J
.1
M
A
A
J New Y ork and London
See text
J
s
& J
&
Q— J
J A J
A A O
b £2,000
Jan 2 1030
Jan 21032
5 Nassau Street New Yk July 1 1930
Sept 1937
July 1909 4 %
Buffalo N Y
Feb 1 1952
Fisk A Robinson N Y
Metropolitan Tr Co N Y Apr 1910-1911
,000 additional held b y G reat Northern
R E P O R T .— Statement for 1908 was In V . 88, ). 1057, 1193.
1907.
1906.
Y e a r s e n d in g D e c . 31—
1908.
Gross earnings________________________ ,£6,302,033 £7,144,506 £6,606,528
5,197,478
4,746,318
Transportation expenses...............
4,559,701
Net earnings........................................ £1,742,332
T otal net Incom e__________________ £1,999,''84
155,206
R entals______________________________
ln t. on bonds and deb. stock _________ 1,047,127
Advances to controlled r o a d s _______
155,704
Dividends on guaranteed s t o c k .. ( 4 ) .
382,463
Do
first preferred stock ___(5)170,841
Do
second preferred s t o c k .(2 /a)63,210
Do
third preferred stock__
________
£1,947,028 £1,860,210
£2,220,187 £2.100,993
155,206
155,206
1,070,923
1,069,136
41,537
153,350
(4 )
312,411
(4)
336,770
(5 ) 170,842
(5) 170,841
(5)126,420
(5)126,420
(3)214,939
(3)214,939 ___________
B a la n c e .....................- ..........................sur. £5,473 def. £6,477 sur. £8,714
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 . 88, p. 624, 822, 1057, 1193, 1253.)
GRAND TR U N K WESTERN R Y .— (Sec M a p G ra n d T r u n k R y .)— Owns
from Port Huron, Mich., to Chic. A W est. Tnd. R R .. 330 m .. and trackage
Chic. A W est. In d ., 5 m .; total, 335 m. S tock, $6,000,000, all owned by
Gr. Trunk. Successor (V. 69, p. 954; V . 71. p. 28) of Chi. A G r.Tr.foreclosed.
B O N D S.— The Grand Trunk unconditionally guarantees the Interest on
the new 4s. Of the 4s, $563,000 are reserved for N orthw. Gr. Trunk 6s.
The new Incomes are subject to call at 85 and any lnt. then due, within the
first 10 vears. lnt. on incomes. 1% paid on July coupons In 1902 to 1905,
Incl.: 4 % In 1906 to 1908. V . 83, p. 687. Jointly with Toledo St. Louis
& Western guarantees Detroit A Toledo Shore Line bonds. V . 76. p. 653
E A R N IN G S .— 11 m os., 11908-09...G ro s s, $5,073,037; net, $1,131,995
July 1 to May 31.
J19 0 7 -08 ...G ross, 5,438,588; net,
906,894
Year ending June 30 1908, Gross, $5,827,812; net, $1,195,118; other
Income, $539,089; charges, $1,670,262; 4 % on Incomes, $60,000; surplus,
$3,944. (V . 83, p. 687.)
GREAT NORTHERN R Y .— (S e e M a p s . ) — Operates a line from St. Paul
Minn., via Spokane, W ash., to Lowell. W ash., on the Pacific coast, with
coast line to Seattle, and numerous branches In Minnesota, Nebraska, North
and South D akota, Montana, W ashington, M anitoba and British Columbia,
aggregating, June 30 1908, 6,743 miles.
L i n e s ow n ed in f e e .
M i l e s . I L i n e s o w n ed in f e e .
M ile s .
St. Paul., Minn., to Lowell,
|Duluth. Minn., to Laramie, N o.
W a s h ...........................................1,7901 D ak...........................
325
Seattle to V ancouver__________ 1 561St. Paul,M inn., to Grand Forks
324
W illm ar, Minn., to Y ankton,
I N o. D ak_____________________
So. D a k ____________________
205|Varlous branches______________3 ,1 22
Garretson, So. D ak., to Sioux
IL e a s e d ________________________
8
City, la ., and O’ Neill, N e b .. 208 IT r a c k a g e ______________________
80
Spokane. W ash., to N elson,B.C 200|
T~' .
Pacific J et., M ont., to B u t te .. 3 5 1 1 Total June 30 1908-----------------6,743
|2d A c ., tracks A sidings............1,801
During 1907-08 230 m. of extensions were com pleted and 205 m. Under
construction. V . 85, p. 1275. The Spokane Portland A Seattle H y ., 420
miles. Including branch from Goldendale to Lyle, 42 miles, was com pleted
M ay 1909. V. 81, p. 1100. V. 83, p. 1111; V. 85, p. 1273; V .8 6 ,, 0 ^ 2 9 .
In Dec. 1908 the Chic. Burl. A Quincy acquired control of the Colorado
A Southern, affording direct connection for the 1111 lines with the Gulf
of Mexico. V. 87, p. 1664. In May 1909 arranged to use Jointly the N orth
ern Pacific line between South Tacom a and Vancouver, W ash., 135 miles.
V . 88, p. 1372.
O R G A N IZ A T IO N .— The stockholders voted Oct. 10 1007 to acqtilro the
St. Paul Minn. A Man., Eastern Hy. of Minnesota, and other roads hereto
fore controlled. V . 85. p. 600, 1209; V . 86, p. 168, 794.
LA N D S.— Sales for year 1907-08 were 7.051 acre8 J .° * A * 6rJ * l -,T?on2
town lots for $1,215. The net amount due on land C(” } tv a .c ts June 301 9 ( 8
was $431,251; lands unsold, 814.270 acres, to be reduced about 660,000
acres by a final adjustment with U. S.
STO C K .— In 1898 surrendered the right to Issue com m on stock, all stock
being " o f a single class with uniform rlghts and
• tock
Stockholders In Jan. 1907 subscribed tor $60,000,000
f.".Pa r<
payable In Installments to April 1908.
Proceeds we r e .
l
equipm ent, extensions, to acquire securities of subsidlaty com panies, Ac
V . 83, p. 1469: V . 84. p. 749, 803: V 85. p. 1273; V . 86 P - ™ 4/
The Union Pacific System June 30 1908 owned $3,578»®00 stock . V . 83,
p. 1332, 1322; V . 87, p. 1540, 1549. Suit to set aside ownership. V .8 6 .
p. 285.
D IV ID ’ DS. \’ 92 to ’ 96 (Incl.) ’ 97. ’ 98. ’ 99. ’ 00. ’ 01. 1902 to A u g 1909.
G t.N o rth ./ 5% yearly
5/$ 6 hi 7
7
7
7 T v , yi Q -h.
Also In 1898 50% In Seattle A Mont, stock, which was then exchanged
for 40% In Gt. Nor. pref. V . 66. p. 1044, 1188; V . 74, p. 829. In May,
1 9 0 1 /$ % and In N ov. 1907 1 j$ % was paid from earnings of
Superior
Co. V . 85, p. 921. 1405. And In Dec. 1906. unit for unit. 1.500,000 shares
of beneficial Interest In the Iron ore properties. See General finances.
B O N D S.— St. P. Min. A Man. c o n s o l, m tg e. of 1883 Is for $50,000,000, of
which bonds are reserved to pay prior liens. It is a first lien on the land
"rant and on 670 m. of railway in Minn, and a second lien 0I|
remaining
1,873 miles In Minn, and the Dakotas. In Dec. I®08 it was proposed to
Issue the $9,024,000 bonds remaining unissued as 4s In exchange for the
same amount of underlying bonds. V . 64, p . 5 1 8 ; V . 80, p . 229: V . 8 7 ,
p. 1533; V . 88, p. 295, 624. 1061, 1372. M o n t a n a E x t . mtge. is for $25.
000,000 for extensions and for second track. A bstract, v . 45, p . 342.
P a c i f i c E x t e n s i o n m tge., £6,000,000, provides for bonds at £6,000 per
mile In Montana and £7,000 per mile west of Montana; £3,000,000 of tnls
Issue (of which £1,000,000 sold) were released upon paym ent of collateral
trust bonds Sept. 1 1898. V . 6 6 . p. 1044, 1188; V . 80, p. 1 1 1 1 , 1 1 7 4 .
See abstract of mortgage V . 52, p. 82.
,
.
In 1904 the Gt. Northern and N or. Pac. had acquired $107,612,600 o f the
$110,839,100 Chicago Burl. & Quincy R R . stock, in exchange for their
Joint 2 0 -year 4% gold bonds, secured b y the deposit of the stock In trust
Ju
ly
, 1 9 0 9 .]
R A IL W A Y
STO C K S
A N D
R A IL R O A D S .
F o r e x p la n a t io n o f c o lu m n h e a d in g s , <Ssc., s e e n o tes
o n f ir s t p a g e o f ta b le s.
D a te
M ile s
of
of
R oad . B onds
S i z e , or
Par
V a lu e .
61
BONDS.
IN T E R E S T OR D IV ID E N D S .
Am ount
O u ts ta n d in g
R a te
%
W h en
P a y a b le.
W h ere P a y a b le, an d b y
W hom .
B on d s— P r in c i
p a l, W h e n D u e .
S to c k s — L a s t
D iv id e n d .
1907
J1.000
Gulf Terminal, Mobile— 1st M 5700,000 gg u (text)c*& r
J & J New York
5600,000
4 g
Jan 1 1957
Hancock & Calumet— See Mineral Range R R
Hannibal & St Joseph— See Chicago Burlington & QuI ncy
100 &c
20 1895
Harrinian & Northeastern— First mortgage gold ___Ce
J
&
J
300,000
6 g
Central Trust Co N Y Jan 1 1916
50
Harrisburg Portsmouth Mt Joy & Lane— Stock 7% gu
53 ____
& J Com pany’s Office Phlla July 10 1909 4 %
1,182,550 7H In ’ 09 J
500 &c
First M (extended In 1883) gu p & 1 Pa R R ___GP.r
53 1853
& J
700,000
4
J
July 1 1913
____
100
124
F & A 31 Hartford
Hartford & Connecticut W estern— S tock ____________
2,965,500
2
Feb 28 1909 1%
1,000
124 1883
First mortgage extended In gold In 1903....................
& J
700,000
J
do
July 1 1923
1,000
44 1902
Hawkinsv & FI So— 1st M 5400,000 gold guar p & I
325,000
A & O Union S B & Tr Co Cln 1952
5 g
Henderson Bridge Co— See Louisville & Nashville R R
100
Hibernia Mine R R — S tock ____________________________
6
4X
200,000
A & o See Central o f New Jersev A pr 10 1909 3%
____
100 11,000,000 4 In 1 9(9 J & J J P Morgan 4 Co N V July 19 1909 2%
H ocking Valley R y— Stock com m on 511,000,000____
____
100 15,000,000 4 In 1909 J
&
Stock preferred non-cum (see text) subj to call at par
J
do
do
July 19 1909 2%
500 &c
76 1867
1,401,000
Columbus <5c H ocking Valley first mtge gold _____ c*
A & o
do
do
4 g
O ct 1 1948
1,000
118, 1875
F & A
Col & Tol 1st M gold ext 1905 (V 81 p 2 1 1 ).-.S .c *
2,441,000
do
do
4 g
Aug 1 1955
85 1880
1,000
1,584,000
7
M & N
Ohio & W est V a 1st M (Logan to P om eroy)____ c*
do
do
May 1 1910
346 1899 1,000 &c 14,486,000
First consolidated mortgage 520,000.000 gold — Ce
do
do
4H g J & J
July 1 1999
___ 1902
1,000
480,000
Car trusts gold 580,000 s-a (V 75 p 741).................... S
do
do
4H g M & N
___ 1907
1,000
4
345,000
F (c A U .S . M. & T r. C o., N . Y . Feb '10-F eb ’ 17
E quip notes gold Ser A duo 523,000 s-a _______ Usm
___ 1907
1,000
720,000
4
F & A 15 Lincoln Trust C o., N . Y . T o Feb 15 1917
do
do
Ser B due 548,000 s - a ------------------___ 1907
1,000
do
do
Ser C due 537,000 s - a ------------------592,000
4
A & O M e rch .L .* T r.C o.. Chic. To April 1 1917
___ 1907
1,000
4
120,000
J & J First T r.& S. B k.. Chic. Jan ’ 10-July ’ 12
do
do
Ser D due 520.000 s-a (V 85 p 600)
___ 1907
1,000
400,000
4
F & A Empire Trust C o., N . Y. Feb ’ 10-Aug *17
do
do
Ser E due 525,000 s - a ____________
1908
1,000
do
do
Ser I of 1908 due 525,000 s-a.S .xc*
425,000
F & A 15 Standard Trust Co, N Y T o Feb 15 1918
4 g
Bonds of coal companies guaranteed. See Sunday Creek Co und er “ Indu strlals”
25 1892
1,000
242,000
M & S Old Colony T r Co Boston Sept 1 1922
HoosacTunnel & W ilm ingt— 1 st M 5250,000 a uthg.O B
5g
___ 1907
1,000
& J
2 246.000
J
H ous Belt & Ter— 1st M 55,000.000 gred 105 textC ec*
5 g
July 1 1937
191 1893
1,000
Hons E & W Texas— 1st M gu p & 1 by So P a c_.U n .c*
2,199,000
M & N 120 Broadway New York May 1 1933
5 g
191 1893
First mtge 53.000,000 gold not guaranteed................
1,000
801,000
M & N
do
do
May 1 1933
5 g
1,000
Hous & Tex C R R — 1st M 1 gr g red 110 Int gu .C e.c*& r 453 1890
2,450,000
J & J 120 Broadway New York July 1 1937
5g
453 1890
1,000
Cons M land grant gold red at 110 lnt g u a r .-F .c * &r
1,055,000
A & O
do
do
6 g
Oct 1 1912
General mortgage gold Interest guar end--Mp.c*«Scr
453 1890
1.000
4,275,000
A & o
do
do
4 g
Apr 1 1921
58 1900
W aco & N W Dlv 1st M g 525,000 p m ------Ce.c*&r
1,000
1,105,000
M & N
do
do
6 g
May 1 1930
103 1891
Austin <& N W (merged) 1st M g gu p & L .M p .c ’ &r
1,000
1,920,000
J & J
do
do
July 1 1941
5 g
41 1895
Ft W orth & New Orleans 1st M (W ax to Ft Worth)
1,000
& n
709,000
6
J
do
do
Dec 1 1925
O T ex & N W 1st M guar So Pac (Gar to W a x )____ F
12 1881
1,000
180,000
6
A & o 120 Broadway New York O ct 1 1911
on basis of $200 In bonds for each 5100 stock. See circular, V . 72, p. 871,
1034, 1135, and application to list V . 73, p. 294, 903; V . 85. p. 600.
E a s t e r n R a ilw a y o f M i n n e s o t a .— Northern DIv. m tge. o f 1898 (to be lim
ited to 59,700,000) are redeemable at 105 on 3 m onths’ notice after April 1
1928. V. 66, p. 471; V . 88, p. 1002, 1253.
The W illm a r * S i o u x F a ll s bonds are guaranteed. Further Issues m ay
be made at 517,500 per mile for additional road. V . 56, p. 247.
G E N E R A L FIN A N C E S.— Total funded debt per mile of main track
(4,961 m.) In the hands of the public June 30 1008,519,743. V . 85, p. 1277.
Train-load, 1907-08, 509 tons, against 539 In 1906-07.
In Oct. 1906 a contract was signed for a lease of the ore lands to the U. S.
Steel C orp.. 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 roy
alty basis of 51 65 per ton s ta n d a rd o r e with 3.4 cts. per ton Increase each yr.;
minimum tonnage to be mined, 750,000 tons during 1907, with 750,000 In
crease each year until 8,250,000 Is reached. The Iron ore properties were
transferred to Louis W . Hill, James N. Hill and W alter J. Hill as trustees,
the 1,500,000 shares of bencflclal Interest In the trust equal to the number of
shares of stock held being Issued Dec. 1906 to Great Northern stockholders.
The profits from the Iron properties, after first deducting the 80c. per ton
to the Gt. Northern R y . for carrying the ore to the docks on Lake
§ayablc
uperlor.w lll be distributed along with any profits from other ore leases
at least once a year to the holders of the trust certificates. See V . 83,
p. 818, 969, 1228, 1290; V . 84, p. 635, 693, 749, 996; V . 86, p. 855. First
d lv. on ore certs.. 51 per share, paid Sept. 16 1907; March 16 1008, 51;
none since to July 1909. V . 87, p. 740, 936.
E A R N IN G S .— 11 m os., 11908-09...G r o s s , 548,904,711; net, 519,070,833
July 1 to May 31.
J 1 9 0 7 -08 ...G ross, 50,735,306; net, 17,860,722
R E P O R T .— F or 1907-08 In V . 87, p . 1083, 1154, 1164; 1125.
1906-07.
1907-08.
Average miles operated___________________________
6,362
6,594
Passenger earnings........................................................... 511,048,927 511,180,553
F re ig h t................................................................................ 42,231,322 40,311,420
2,808,580
2,711,099
Mall, express, &o............................................................
Other than tra n sp orta tion .........................................
178,309
217,560
GULF & SH IP ISLAN D R R . — (S e e M a p .)— Owns from G ulfport, on
Mississippi Sound, Gulf of M exico, to Jackson, Miss., 160.5 m .; Columbia
d lv ., Maxle to Mendenhall, 104.75 m. Branch from Saratoga to Laurel,
41.75 miles; total, 307 miles. Im portant harbor Improvements have been
constructed at Gulfport. Including an extensive system of docks, piers, &c.;
also a channel 7 miles long extending to deep water.
ST O C K .— Capital stock, 56,250,000 (par of shares, 6100), outstanding.
D IV ID E N D S .— April 1903 to July 1909, 4 % yearly (Q .-J .). V . 88,
p. 1620.
B ON DS.— Of the first 5s (55,000,000 authorized), 64,984,000 are out
standing, remaining 516,000 being reserved to retire a like am ount of old
bonds still outstanding. A yearly sinking fund of 1% of bonds outstand
ing, which became operative Jan. 2 1905, m ay purchase bonds at not
exceeding 110, but the latter cannot be drawn; bonds so purchased to be
kept alive In the sinking fund as an Investment. On June 30 1909 5270,000
bonds were In the sinking fund. See V . 74, p. 426, and application to list
V . 74, p. 1257; V . 81, p. 264. The m tge. gold 6s o f 1908 (51,000,000 origi
nal issue), o f which 5250,000 matured April 1 1909. Issued to partly defray
the cost o f 60 miles of road, mature 5250,000 1910 and S500.000 In 1911,
secured on entire p roperty, subject to first ref. 5s. V . 86. p. 547, 1100.
Car trusts April 30 1909, 5269,958.
E A R N IN G S.— 11 m os., 11908-09........... Gross, 51.732,805; net, 5446,619
July 1 to May 31.
J1907-08........... Gross, 1,939,965; net, 383,812
R E P O R T .— Report for year ending June 30 1908 was In V . 87. p. 1354.
Y ear—
G ross.
N et.
O th er I n c . C h a r g e s .
B a la n c e
1907-08........................ 52.066,328 5333,755 527,064 5368.587 def.57,768
1906-07........................ 2,483,545 673,318
26,826
382.672 sur.317.472
Pres., J. T . Jones, Buffalo, N . Y . — (V . 87, p. 1354; V . 88, p. 1620.)
GULF TE RM IN A L CO., M O BILE.— Owns union passenger station and
approaches at Mobile, A la., leased by the Southern R y . and Mobile & Ohio
R R ., which own the stock and guarantee the bonds Jointly and severally,
p. & I .,b y e n d . Franklin Trust C o., N. Y ., Is m tge. trustee. V . 84, p. 50
H ARRIM AN & NORTHEASTERN R R .— Harrlman to Petros. T enn ., 20
miles. In Jan. 1903 entire stock acquired In the Interest of the Cincinnati
New
Orleans & Texas Pacific R y ., but Is operated separately. V . 76. p.
Gross operating revenues..........................................556,267,137 554,429,632
157. In 1907 a dividend of 4 % and In June 1908 2 M % fwas paid from ac
Net operating revenue.................................................. 520,631,633 518,271,577
Gross corporate Incom e________
520,164,477 cumulated surplus. Stock, 5600,000. Year to June 30 1908, gross, 5 1 1 1 ,
138; net,
532,402; chgs., 522,982; bal., sur., 59,420.— (V . 76, p. 212.)
Rentals p a id ............................................................
51,347,436
Bond Interest accrued..............................
3,670,865
H ARTFORD & CONNECTICUT W ESTERN R Y .— H artford, Conn., to
Guaranty o f K ootenay R y . & N avigation deb. stock In terest..
155,862 Rhlnecllff, N. Y ., 110 miles, and branch, 14 miles. Leased till A ug. 1940
Interest aerrued on subscriptions for 560,000,000 add’l s t o c k .. 2,038,427 to Central New England R y . (now controlled b y New York New Haven &
Dividends on stock, 7 % ......................................................................
10,483.055Hartford R R . ) , the rental paying charges and 2% per annum on the stock,
of which 51,640,000 owned b y lessee.— (V . 83, p. 213, 1290.)
Balance, transferred to fund for permanent Impts. & renewals. 52,468,832
H A W K IN S V IL L E & FLOR IDA SOUTHERN R Y .— W orth to Hawklns
vllle, Ga., 44 miles.
Leased May 1 1907 to Gulf Line R y . until April 1
O ld B a s i s . —
1906-07.
1905-06.
1904-05.
1952. with option of purchase.
V . 84. p. 1247.
Stock, 5100,000,
Average miles operated_____________
5,982
5,906
5,723
acquired In April 1904 by Georgia Southern & Florida, which guarantees
Gross earnings..........................................555,144,402 551,276,280 543,526.088
Net earnings............................................ 20,530.703 23,651,761 20,567,239 bonds (see table a b o v e ), principal and Interest. Year ending June 30 1907,
O F F IC E R S .— Chairman, James J. Hill, St. Paul; Pres., Louis W . Hill, gross, 555,174; net, 58,247; total deduc., 513,542; bai., d ef., 55,295.
St. Paul; 2d V .-P ., R . I. Farrington; 3d V .-P ., Sec. and Asst. Trchs., E. T . Pres.. S. F. Parrott; Treas., W . P . H opper, Macon, Ga.— (V . 84, p. 1247.)
Nichols, N. Y .; Treas. and Asst. Sec., E. Sawyer, St. Paul; Asst. Sec. and
H IBERN IA A1INE R R .— Owns from R ockaw ay, N . J ., to Hibernia
Asst. Treas., N. Terhune. New Y ork office, 32 Nassau St.
Mines, N. J ., 4 H m . Leased to Cent, of N. J. In 1890 for 512,000 per ann.
Directors— J. J. Hill, Frederick W eyerhaeuser, E . Sawyer, W m . R .
HOCKING V A LLE Y R Y . — (S e e M a p .)— This com pany owns main line
Bcgg, R . I. Farrington. II. W . Cannon, Samuel Thorne, Louis W . Hill, from Pom eroy, O ., to W albrldge, O.. 250 miles, with trackage (Penn. R R .
W m . B. D ean.— (V. 88, p. 748, 1002, 1061. 1253, 1372; V . 89, p. 102.)
System) W albrldge to T oledo, 6 miles; branches to Athens, Nelsonvllle,
& c ., 73 miles; leases Wellston & Jackson Belt, McArthur Junction to Jack
GREEN B AY & W ESTERN R R .— R oad owned from Green Bay, W ls.,
to Marshland, W ls., 209 miles; branches, 13 m .; trackage to W inona, 4 m. son, 18 miles; total, 347 miles; second track, 4 8 miles.
H IS T O R Y , &c.— Successor Feb. 25 1899 per plan V . 68, p. 231, of
H IS T O R Y .— A reorganization June 5 1896 (per plan In V . 61, p. 471).
Columbus H ocking Valley & T oledo R y ., foreclosed. The coal lands, from
S E C U R IT IE S .— There are no fixed charge* on the property other than which the bulk of the business Is derived, aggregate about 20,975 acres,
taxes, nor can any be placed thereon, or the property be sold or leased and are covered b y the consolidated mortgage.
without consent of 75% of stock. Class A debentures are entitled to 2
In April 1909 the Ohio Lower State Court held Illegal the control o f the
interest. If earned, then com m on stock to 2 H % , then the two share ratably;
Kan. & M ich., Toledo & Ohio Central (V. 69, p. 1348), Zanesville & W est
but after 5% on both , class B Is entitled to all surplus earns. V . 61, p. 471. ern and the allied coal properties, delaying the consolidation. A re-hearD IV ID E N D S —
’98. ’ 99. ’ 00. ’01. ’02. ’03. ’ 04. '05-’07. '08. 1909.
lng as to the Kan. & Mich, took place June 31 1909. The T oledo & Ohio
Class “ A ” d e b e n ...% 2 K 2 K 2 K
3 4
4
4 5 y ’ly.
5
5
Central has been operated Independently since July 1909. V . 88, p. 1127,
S t o c k .........................% . . . l y i Z H
3
4
4
4 5 y ’ly.
5
5
1253; V. 89, p. 41.
Class " B ” d e b e n . . . % .......................................................................
y
y 3,Feb
The plan for consolidation with the Kanawha & Michigan R y . In V . 83,
p. 271, 323, contem plated the retirement of the pref. stock and the creation
E A R N IN G S .— 11 m o s .,(1908-09..............Gross. 5533,239; net, 5158,595
of a new general lien 4 % m tge.for 530,000,000, the Immediate Issue to be
July 1 to May 31. \l907-08----------- Gross, 551,238; net, 165,147
517,000,000. Sec above.
R E P O R T for year ending Dec. 31 1908, In V. 88, p. 879.
P R E F . STO C K .— Has preference as to assets and dividends and will
C a l.
G ro ss
N et o ver
D iv . o n
D iv id e n d
D iv . o n
B a la n c e ,
sharo equally with com . In any d lv. above 4 % In any year. V . 80, p. 1111.
Y ear.
E a rn s.
n e p ..& c . D e h ." A " s .
o n S to c k .
D e b . " B " s . S u r p lu s .
1908 ____ 5602,106 5182,037 (5)530,000 (5)5125,000 ( iK)526.250
5787
SALE OF STOCK, &c.— In June 1903 56,924,200 of the outstanding
1907.......... 666,838 204,577 (5) 30,000 (5) 125,000 (J^) 35.000 14,577 511,000,000 com m on stock was sold to five railroad companies, viz.: The
Pittsburgh Cincinnati Chicago & St. Louis (two-sixths Interest) and Balti
D IR E C T O R S .— S. S. Palmer, P r e s .;---------------------------- - Sec. and Treas.;
more & Ohio, Chesapeake & Ohio, Lake Shore & Michigan Southern and
40 Wall St.; C. Lcdyard Blair, J. A. Jordan, W . J.W ilson.— (V .8 8 , p. 1061.)
Erie (each one-sixth), the owners receiving 5103 per share above all ex
GREENE R R .— Owns road from Chenango Forks to Greene, N. Y ., 8 penses. The participation certificates Issued therefor were paid at m aturity
m ile s ., Leased to Delaware Lack. & Western for term of charter for 6% on June 28 1906, and the stock distributed among the roads. V . 75, p. 1301;
stock. Stock, 5200.000; par, 5100. D. L. & W . owns 5200,000 7% bonds. V. 77, p. 36, 1225; and form of certificate. V . 77. p. 1874; V . 83. p. 37.
D IV ID E N D S .— On preferred, 1900, 3 ^ % ; 1901 to July 1909 Inch. 4%
GREENW ICH & JOHNSONVILLE R R .— See page 169.
per annum. On com m on, July 1901 to Jan. 1907 Inch, 3 % per annum:
G U A Y A Q U IL & QUITO R Y .— See page 68.
July 1907, 2 % ; 1908, Jan., 2 % ; July, 2 % ; 1909, 4 % (J. & J .).
BON DS.— The consols (520,000,000 authorized) besides a lien on the
GULF & INTER-STATE R Y ,— See page 169.
entire property, subject only to 55,426,000 prior bonds, have a first lien on
GULF LINE R Y .— Owns Ashburn, Ga., to Brldgeboro, 32 miles; track all the coal lands; 55.426,000 consols are reserved to retire the existing bonds
age, Asliburn to W orth, 6 miles; leases (to April 1 1953, with option to
(the latter m ay be extended at m aturity). V . 72. p. 338; V . 74, p .
purchase) the Hawklnsvllle & Florida Southern, Hawklnsvllle to W orth, 44 1038; V . 86, p. 229. Substantially all o f the bonds and stock o f the
miles; total, 79 miles. Proposed line will extend from Hawklnsvllle to Ohio Land & R y . Co. and the W ellston & Jackson Belt R y .. 18 miles, are
Balnbrldgc. Ga., about 130 miles, and extension projected from latter point deposited under said mtge. V . 68, p. 823. Guarantees Kanawha & H ocking
to the Gulf, about 100 m. Incorp. In 1907 and acquired the Flint River Coal & Coke Co. bonds. V . 74, p. 271; V . 77, p. 2393; V . 81, p. 507, 781;
& Gulf. Stock authorized, 5400,000. Bonds authorized, 5325,000 30-year also Continental Coal Co. bonds. V . 75, p. 497, 987; V . 88, p. 1127. In June
5s, Atlanta (Ga.) Trust C o., trustee. Pres., G. F. A lford; Sec. and
1908 control o f Sunday Creek C o., which operates said properties and other
f old
rcas., C. H . Reynolds, Sylvester, Ga.— (V . 85, p. 921; V . 86, p. 420.)
coal properties (see “ Industrials” ) .w as sola, to be held In trust and re-con-
R A ILW A Y STOCKS AND BONDS.
[V o l .
l x x x ix
.
4-i
Cl
tr*
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i£
o
o
Pd
t— I
t-1
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hh
Ki
02
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02
os
W
R A IL W A Y
64
STO C K S
A N D
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s . <Jtc., s e e n o te s
o n f i r s t p a g e o f ta b les
[V O L. L X X X I X .
BONDS,
M ile s
of
R oad
D a te
of
B onds
1907
Hudson & Manhat— 1st M $100,000,000 co n v .S ,x c* A r
1902
New York A Jersey 1st M $7,000,000 red 1 1 0 . .G.c*
1909
Car trusts $46,000, due s e m l-a n n ...........................Q
H untingdon & Broad T op — Comm on stock ....................
Preferred stock 7 % non-cum ulatlve.............................
1854
First M extended in 1800 (Interest only In gold) .. Q P
1857
Second M old 7s extended In 1895 p A 1 g o ld ------ QP
1865
T hird M consol extended In gold In 1895------ GP.c*
Lv99
14th Ser car trust $29,000 yearly D ec 1............PeP
1907
Car trusts gold due $33,000 yearly (V. 84, p 1 4 2 4 )..
1907
Idaho & W ash Nor— First M $5,000,000 g red te x t.IC
Illinois Central— Stock $123,552,000................................
Leased line 4 % stock guaranteed (see rem arks). . .
1875
First m tge of Sterling bonds old 6s extend In 1895'
1875
1 8 7 4 f o r Sterling bonds extended In 1905___
1886
706
$15,000,000 4s of 1886 due 1951 gold ____ c*A r
1886
secures a 11 3 Ms of 1886 due 1951 gold — c*A r
1895
equally - Us 3s of 1895 due 1951 gold ____ c*A r
1903
(V 83, p 76). 3 Ms of 1903 due 1951 gold ___c*A r
"
(s e c b y C h S t L A N O con s).U s
1886
Trust bonds sterlln
111 1897
First M Sp D lv ref M (V 66, p 1237) g ------ U s.xc*A r
131 1881
Kank A S W 1st M Otto to Norman Juno A b r____ r
Cairo Bridge bonds gold (see rem arks)____ U s.c*A r
1892
St Louis Dlv A Term M $10,000,000 g o ld .U s .x c* A r J 239 (1897
do
$5,000,000 (See V 65. p 1173) g .U s .x c* A r
11897
17 1883
Underlying St Ll Bellevue A Carondelet 1st M ._c*
51 1880
D lv & Term ln- Bellevue A El Dorado 1st M ..c +
30 1886
al Mortgage . . St Louis Southern 1st M g ..M e .c *
17 1887
Carb & Shaw 1st M gold _____ c*
734 1904
Purchased lines 1st M $20,000,000 gold ___U s.c*A r
R efunding m ortgage gold red (text) _____ G xc*A r*
2,015 1908
857 1888
Collateral trust bonds gold $.......................U s.c*A r
798 1892
Coll trust $25,000,000 gold on L N O A T _ .U s .c * A r
218 1894
W estern lines first mortgage gold --------------- Us.c*«5cr
640 1897
Louisville Dlv A Term M $25,000,000 g -_ U s .x c* A r
567 1881
Ch St L A N O cons M ($18,000,000) g lnt g u _ .c* A r
567 1897
do
guaranteed principal and Interest_________
100 1889
Memphis D lv 1st M gold guar p A 1 (e n d )-.U s .c *
a In addition $5,266,000 consol 5s are pledged to se cure I lllnots
S ite, o r
Par
V a lu e
Am ount
O u ts ta n d in g
R a te
%
W h en
P a y a b le
W h ere P a y a b le, a n d b y
W hom
Standard Trust C o, N Y
A
4M g
$, £ or fr. $51,500,000
Guaranty Trust Co, N Y
A
5.000.
0005 g
1,000
do
do
M A
5
920.000
1,000
Phlla
off. N o Amer Bldg
See
text
1,371,750
50
do
do
See
2.000.
000text
50
do
do
& O
416.000
4 g
500
do
do
F
A
A
4 g
367,500
500
do
do
A & O
1.497.000
5 g
1,000
J & D Penn Co for Ins Ac,Phlla
4
89.000
1,000
401.000
4M g A & O Phlla Tr S D A Ins Co
1,000
M & N 111 Tr & Sav B k, Chicago
5 g
742,400
1,000
100 109,296,000 7 In 1909 M & S 115 B ’w ay, N Y , & Lond
do
do
& J
4
100 10,000,000
a
o London
2.500.000
4 g
£200
& D
1,000.000
3M g
£200
J 115 Broadway, New York
1.500.000
4 g
1,000
do
do
J
2.499.000
3M g
1,000
M & S London
£500,000
3 g
£200
3 .000.
0003M g A A O New Y ork and London
1.000 A c
Baring Brothers, London
A
5.266.000
3M g
£200
115 B roadway,N ew York
A
2.000.
0003M g
1,000
do
do
5
F A
968.000
1,000
do
do
3.000.000
J A
4 g
1,000
do
do
8.377.000
3M g J &
500 A c
do
do
4.908,275
J A
1,000
3 «
do
do
A D
470.000
J
1,000
do
do
7 g
71.000
J A J
1,000
do
do
538.000
M A S
4 g
1,000
do
do
M A S
241.000
4 g
1,000
do
d
A J
3M g
1,000 14.662.000
New
York
4
g
N
20,000,000
A
1.000 Ac
A & O 115 Broadway .New York
000 4 g
500 A c 15.000.
do
do
000 4 g
M & N
500 A c 25.000.
5.425.000
do
do
F & A
4 g
1,000
do
do
3H g J A
500 Ac 23.888.000
J & D 15
do
do
3 g
1,000 a l l , 369,000
do
do
1.419.000
3M g J A D 15
1,000
J & D
do
do
3.500.000
4 g
1,000
Central c ollateral tru st bonds of 1886.
B on d s— P r in c i
p a l, W h e n D u g
S lo ck s— L a st
D iv id e n d
Feb 1 1957
Feb 1 1932
Sep ’ 09-Mch ’ 19
Jan 28 1904 1 „
Jan 25 1908 3M
Sept 30 1920
Feb 1 1925
Mch 311925
T o Deo 1 1911
A p r’ IO-Oct ’21
May 1 1932
Sept 1 1909 3M
July 1909 2%
Apr 11951
Dec 11950
Jan 1 1951
Jan 1 1951
Mch 11951
A pr 11951
July 1 1950
Jan 1 1951
A ug 1 1921
Deo 11950
July 1 1951
July 1 1951
June 1 1923
July 1 1910
Sept 1 1931
Mch 1 1932
July 1 1952
N ov 1 1955
Apr 1 1952
N ov 1 1953
A ug 1 1951
July 1 1953
June 15 1951
June 15 1951
Deo 11951
O F F IC E R S .— W . G. Oakman, Pres.; W m . H enry Barnum , V .-P . A
Treas.; F . W . W alz, V .-P .; William Everdell J r., S ec.; Charles M. Jacobs,
Chief Engineer; John Van Vleck. Mechanical Engineer. O ffice, 62 Cedar
S t., New Y ork City.— (V . 88, p. 748, 944, 1127, 1169.)
HUDSON & M ANHATTAN R R .— (See M a p . ) — Owns and operates
double-tube tunnel from 6th A ve. and 23rd S t., N . Y . C ity, under the
H udson R iver to the Delaware Lack. A W est. R R . station, H oboken, N . J .,
a distance o f about 3 miles. The first trains were operated F eb. 26 1908.
The line under 6th Ave. Is being extended to 33d St. and In April 1909 per
mission was granted for further extension to 42d St. and Grand Central
Station. A branch will also be built from 6th Ave. under 9th St. to a conA double-tube tunnel from H oboken
Pennsylvania R R . stations in Jersey
City and thence under tne Hudson R iver to the Hudson Terminal Buildings
on Church St. (one block west of Broadway) extending from Cortlandt to
Fulton S t., was opened on Aug. 2 1909, making total length of double
track tunnel In operation 5M miles. This Is the main line. V. 87, p. 37
614, 1011; v . 88. p. 295, 451, 686, 944, 1197, 1437, 1620; V. 89, p. 224.
$2,567,158
$2,327,544
T otal available Income $2,514,282 $2,642,675
An extension will also be built from the Pennsylvania R R . station In
$883,480
$899,693
$815,188
Fixed charges, A c_____ $1,149,600
Jersey C ity to a connection with the present main line of the Pennsylvania
600,000
600,000
Dividends on pref. 4 % . .
600,000
600,000
R R . and, u p on Its com pletion In 1910, a through train service will bo
(3)330,000 (3)330,000
D lvld en dson c o m m o n .. ( 4 ) 4 4 0 ,000(3 M )3 8 5,000
established between the station in the basement o f the Hudson Terminal
Im provem ents, A c _____
101,754
520,429
Buildings, In New Y ork, and Newark, N . J ., under a traffic agreement.
The Pennsylvania R R . will have ticket offices In the Hudson Terminal
Balance, year’s su rp _
$222,928
$322,058
$753,678 $497,851
Buildings and baggage will be checked thence over the entire Pennsylvania
system . A traffic agreement has also been entered Into with the Erie R R .
O F F IC E R S .— Pres., N. Monsarrat, Columbus; Sec. and Treas., W . N .
Co. The H udson Terminal Buildings, the largest office buildings In tho
C ott. Columbus; Asst. Sec. and Treas., A . H . Glllard. New Y ork.
D IR E C T O R S .— Charles B . Alexander, R . M. Gallaway, A . H . Glllard w orld, were opened May 1 1908. Trains, electric and all steel.
S T O C K .— Comm on, $40,000,000, all out; 5 % non-cum . p ref., with prefer
and D . Mllbank, New York; R alph W . H lckox, Charles G. H lckox and
James H . H oyt. Cleveland; P . W . H untington, N. Monsarrat. S. P. Bush. ence also as to assets, and convertible after July 1 1911 Into com m on stock
at 110, authorized Issue $10,000,000; outstanding $5,250,000. Par $100.
R . S . W arner, F. B . Sheldon and W . N . C ott, Columbus, O .— (V. 89, p. 41.)
B O N D S.— Of the 1st 4 Ms, $57,000,000, In connection with $40,000,000
HOOSAC TUNNEL & W ILM INGTON R R .— See page 169.
HOUSTON BELT LINE & T E R M IN A L R Y .— T o build a terminal line com m on and $5,250,000 pref. stock will be Issued o n accou nt of the pro
n and around Houston, T e x ., 20 miles, with large freight and passenger ter posed tunnels, stations, power house, erection of buildings at the Hudson
minals. Controlled b y four proprietary roads, v iz ., Col. Southern, New Or terminals In New York, and retirement of $5,000,000 N . Y . A Jersey
leans & Pacific (St. Louis & San F ra n .), Trinity & Brazos Valley (Col. South bonds redeemable at 110. The remaining $43,000,000 bonds and $4,750,
ern), St. Louis Brownsville A M exico and Gulf Colorado A Santa Fe (Atchl- 000 pref. stock are reserved for future purposes.
Of the 4 Ms Issued as above stated, part are deposited as collateral
on system ), which each owns one-fourth o f the stock and under a 99-year
ease from July 1 1907 agree to p ay under a pro rata wheelage basis operat- for Hudson Companies notes (see that com pany a bov e). The $57,000,000
first Issue will have a prior Hen. V . 87, p. 37.
ng expenses. Interest on bonds and annual sinking fund o f 1% of bonds
The bonds will be convertible on any Interest day after Feb. 1 1912 at
ssued. V . 86, p. 285. Incorporated Aug. 31 1905 with $25,000 (nominal
sto ck ). The 5s of 1907 ($5,000,000 auth. Issue) are subject to call at 105 after par Into com m on stock at $110 per share, with provisions to p rotect the
July 1 1917. In March 1909 the Texas R R . Commission authorized the Issue bondholders when com m on stock, In addition to the $40,000,000 at present
authorized and the further amount necessary to convert the bonds. Is issued.
Of $2,246,000 bonds. V . 88, p. 883. 1253. 1313.— (V . 88. p. 1313.)
In Feb. 1909 $920,000 5% car trusts were sold. V . 88, p. 505, 624.
HOUSTON & BRAZOS V A L L E Y RR — See page 169.
O F F IC E R S .— Pres., W . G. M cAdoo: V .-P ., W ilbur C. Fisk; Asst. Treas.,
HOUSTON EAST & W EST T E X A S R Y . — (S e e M a p o f S o u th e r n P a c i f i c .
F. W . W alz; S ec., C. W . King; Asst. S ec., W m . J. Martin and W m . E ver
Owns from H ouston, Texas, to Sabine R iver at Logansport, 191 mles. dell Jr. Office, 30 Church S t., N. Y . — (V. 88, p. 1437, 1620; V . 89, p. 224.)
Stock $1,920,000, of which $1,918,200 owned b y So. Pac. C o., which has
HUNTINGDON & BROAD TOP MT. R R . & COAL CO.— Owns from
guaranteed $2,199,000 of the bonds, prln. and lnt., b y endorsement, re
H untingdon, P a., to Mount Dallas, P a., 45 miles; branches, A c., 25 miles.
serving the right to redeem them at 105 and lnt. on six m onths’ notice.
Dlv 16% paid in 1902-03 and 30% in; 1907-08 out of accumulated
D I V I D ’S.— ’ 97. ’98. ’ 99. ’00. ’01. ’ 02. ’ 03. ’ 04. ’ 05. ’ 06. ’07 ’ 08 . ’09.
surplus. Guaranty, V . 70, p. 841; V . 71, p. 236.
On c o m m o n .- - - 1
0
0
0
0
0
5
1
0
0
0
0
0
Year 1907-08, gross, $1,178,249; net, lncl. other Inc., $356,522; charges On p referred ___ 6
5 5M 7
5
6
7
6 5 M 7 M 7
3M( ?)
$275,122; bal., sur., $81,400.— (V . 78, p. 2384.)
A N N U A L R E P O R T .— R eport for 1908 was In V . 88, p. 1058.
HOUSTON & TE X A S CENTRAL R A IL R O A D .— {S e e M a p o f S o u th e r n
G ro ss.
N et.
I n te r e s t.
D iv i d e n d s .
B a la n c e .
P a c i f i c . ) — Owns from Houston, Texas, to Denison, Texas, 338 miles; H em p
1908 ..............$632,933
$148,522
$106,190
$70,000 clef.$27,668
stead, Texas, to Llano, Texas, via Austin, 215 miles; Bremond to R oss,
1907 .............. 884,686
318,060
106,190
140,000
71,870
Texas, 55 m .; Garrett to F t. W orth, 53 m .; Mexla to Nelleva, 94 m .; other, — (V . 86, p. 420; V. 87, p. 166, 221: V . 88, p. 451, 564, 1058.)
34 m .; total, 789 m. Successor 1893 to r a ilw a y foreclosed. V . 45, p.792, 820.
IBERIA & VERMILION RR — Salt Mine June, to A bbeville, L a ., 16
B O N D S.— The bonds are being gradually reduced with proceeds of land
miles. Stock, $300,000, of which $299,500 owned b y M organ’s Louisiana
sales. The fir s t m o rtg a g e was for $8,634,000.
The fir s t m tg e. bonds and
A Texas R R . A SS. Co. (So. P a c.). Bonds, $322,000 first mtge. 5s, due
the co n s o lid a te d m tg e. bonds m ay be called for redem ption at 110 with pro
Aug. 1943. Year 1907-08, gross, $71,620; net, $15 472; other Incom e,
ceeds of land sales. See full a b stra cts of all the mortgages In V . 52. p. 242.
$8,073; charges, $20,256; balance, surplus, $3,289.
Of the $5,068,000 consolidated 6s authorized $1,149,000 (not Includedtn
the amount outstanding above) are held as part security for the general 4s.
IDAHO & W ASHINGTON NORTHERN R R .— Owns from McGuire’s Sta
There were also June 30 1908 $450,000 Lampasas extension Interim 53 tion, Id a ., northerly to Newport. W ash., 51 m. (opened N ov. 25 1907). with
owned b y Southern Pacific Co. or sinking funds of proprietary companies.
Clagstone branch, 6m. Track-laying began In Juno 1909 from N ew
port to Cement, 52 miles.
Controls Pend d ’Orelllo R iver N av. C o.
STO C K .— Stock, $10,000,000, of which the Southern Pacific Co. owned
Stock authorized, $5,000,000; outstanding, $1,078,800; par, $100. Bonds
$9,998,300, par $100. V . 76, p. 1084, 1102, 1407. In 1902-03 a dividend
aro subject to call, any or all, at 107 M. from May 1 1912 to May 1 1917, and
of 6% was paid out of accumulated surplus. V . 76, p. 1407.
L A N D S.— The lands June 30 1908 held for cancellation of bonds consisted thereafter at 105; In O ct. 1908 $2,500,000 were reported as sold. V . 85,
p. 1339; V . 87, p. 1160. Loans and bills payable Dec. 31 1908, $642,942.
of 333,709 acres; land contracts $2,088,232. V . 65, p. 869.
year ending Dec. 31 1908, gross, $222,727; net, $09,699; lnt. and taxes,
Year 1907-08, gross, $5,764,081; net. $1,366,069; other Income, $44,239; For
$58,859; bal., sur., $10,840. Pres, and Treas., F. A. Blackwell. Offlco
charges, $1,062,408; bal., sur., $347,900.— (V . 88, p. 883; V . 89, p. 224.)
Coeur d ’ Alene, Idaho.— (V. 85, p. 1339; V . 87, p. 1160.)
HUDSON COiMPANIES.— Incorporated Jan. 9 1905 under laws of New
ILLIN OIS CENTRAL R R .— (See M a p .)— R O A D .— Operates from Chi
Y ork State. Organized to build Hudson A Manhattan R R . (which see be
low) , which It controls. In March 1909 arranged to erect building at 33d St. cago, III., southerly to New Orleans, L a., 912 miles, and westerly to Sioux
and Broadway, N. Y ., and lease It to Glmbel Bros. V . 88, p. 748, 1127. C ity, la ., 509 miles, with numerous branches, viz. (*whlch see):
L e a s e d — C o n tr o l o w n e d —
M ile s .
R o a d o w n ed in f e e —
M ile s .
Ownership of equities In N . Y . City property Is stated to be $4,500,000.
Mem., T enn ., to Grenada, M iss. 100
Chicago to Cairo, 111— 1
C A P IT A L STOCK.— Auth. and outstanding, $16,000,000 pref. and Centralla, 111., to EastiM aln
706 Y azoo A Mississippi Val. R R .,
$5,000,000 com m on. Pref. stock to receive 7 % cumulative dividends, and
Memphis to N . O. and" "brs___1,370
D ubuque, l a _______ Jstem.
____
also entitled to one-fourth of any other dividends.
Dubuque A Sioux C ity*.............
760 St. Louis A lton A Terre H a u te. 239
E n ti r e s to ck o w n e d —
Springfield to East St. Louis,
G o ld N o te s
J u l y 1909
(Compare plan V . 87, p. 1010).
111. (V . 71. p. 547)..................
98 Branches, A n . . . . — - - . . . . . . - 1 , 0 0 8
D a te —
i n t e r e s t . O u tsta n d in g .
M a tu r ity .
P r i c e at W h ic h C a lla b le.
T r a c k a g e A c------ ------------- 180
Feb. 1908 6 F -A
$2,622,000
Aug. 1 1910 Prem . 1 % yrly. to maturity Peoria, 111., to Evansville, In d .,
with 6-mlle branch__________ 234
O ct. 1908 6 A-O
10,000,000
Oct. 15 1911 Par and Interest
L e a s e d — C o n tr o l o w n ed —
T otal system June 30 1908___5,879
Various . . . 6 Var.
1,569,000
ToM ch.1910 N ot stated
O f w h ic h e a r n s , k e p t s e p a r a te —
Holders of the notes of the $10,000,000 issue only have the option of taking Chicago St. L . A N. O. R R .,
Cairo, 111., to New Orleans___ 547 Y azoo A Miss. Val. R R .............. 1,370
Line to Louisville, A c_______
637
secured
R em ainder Included In earnings July 1 1908___________ _______- - - . 4 , 5 0 9
, __ ________ _______
___ ______
.
.
two
Issues first named at rate of $1,500 of bonds for each $1,000 note outstand
H IS T O R Y , LE ASE S, A c.— Chartered In Dec. 1850. Tho com pany pays
ing. V . 86, p. 285, 547; V . 87, p. 37, 1196.
to the State of Illinois 7 % (In 1907 $1,222,472) of gross of the 706 m . owned
D IR E C T O R S .— W . G. Oakman, Pliny Fisk, Grant B . Schley, William In fee yearly In lieu of taxes. The Chicago St. L. A N . O. Is leased for 400
C. Lane, John W . Simpson, W m . M. Barnum, Albert A. TUney, Kenyon years from July 1 1882 at 4 % per annum on Its $10,000,000 stock deposited
to secure the lea se d lin e s to c k . T ax suit, V . 84, p. 931.
B . Conger, W m . Henry Barnum, Dumont Clarke, Charles F. Adams 2d.
vey ed to com pany If authoritatively decided that H ocking Valley com pany
has no right to hold stock. In M ay 1909 the com m odity clause of Hepburn
A ct was held to be Constitutional, but construed favorably to railroads.
V . 87, p . 755; V . 88, p. 1196.
L A T E S T E A R N IN G S.— For 11 m onths ending M ay 31:
11 M o n t h s —
G ross.
N et.
O th er I n c o m e C h a r g e s.
B a la n c e .
$1,303,043
1908-09______ $5,409,396 $1,747,580 $852,015 $1,296,552
1907-08............ 5,393,142
1,557,670
898,280 1,204,759
1,251,191
A N N U A L R E P O R T .— Traffic Is m ostly freight, and over 66% o f this Is
bituminous coal. Average train-load Is large— In 1908, 594 tons.
R eport for year ending June 30 1908 In V . 87, p. 735, 752.
Owing to changes In accounting In 1907-08. comparisons are Inaccurate.
1907-08.
1906-07.
1905-06.
1904-05.
Gross earnings.....................$5,841,763
$6,907,048 $6,439,809 $6,013,214
N et earnings after taxes.
$1,533,887 $2,197,237 $2,258,035 $1,945,313
Other Incom e__________
980,395
445,438
309,123
382,231
(H)
R A IL W A Y ST O C K S AND BONDS.
[VOL. LXXXIX.
o
v
North German Lloyd
S.S. Co’s Piers ,
namburg-American
S.S. Co’s Piers
'
LACKAWANNA
STATION „ s
ECTION
IWAY
JL
IT
HUDSON
BUM
30 CHt
JT DEY/S TR EETC
\ X XCt)NNECTION^
^ Y < I T H SUBWAY
Tririity^Church
J p x ,Y ,
loop,]
RAILWAY STOCKS AND BONDS.
IEWARK
MAP OF
^ HUDSON & M A N H A T T A N RAILROAD
HUDSON T U N N E L S YSTEM .
DOUBLE
The B a ttery j
TRACK THROUGHOUT.
+ ffuriiiclTftrBrooklun
-
_________________ __________________
AMERICAN BANK NOTE COMPANY, NEW YORK
[VOL. L X X X IX .
R A IL W A Y STO C K S AND BONDS.
08
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , A c . , s e e n o te s
o n f i r s t p a g e o f tab les
IN T E R E S T OR D IV ID E N D S
M ile s
of
R oad
D a te
of
B on ds
130 1900
IllCent(Ccm )— O m ahaD lv lstM gd$5,000,000 Usc*&r
08 1900
F.c*
m c h Dlv 1st M g $ 4 ,0 0 0 ,0 0 0 ......... ..........
Iowa Falls & Sioux C ity— See statem ent of Dubuqu e & SI oux Cl
132 1903
llllnoW Southern— 1st M gold $5,000.000.................. c*
1905
Illinois Term inal— 1 st M $500,000 gold red p a r------ IC Text
n oil Tunnel Co— See Chicago Subway Co
Imlian'i Decatur & W estern— See Cln Ind & Western
. . . 1907
Indiana Harbor B e lt-G e n M $25,0 0 0 ,OOOg.,0 x c ‘ &r*
1907
do
do
do
— --Chic Ham & W first mortgage gold assumed c*& r 27.48 1897
Indiana Illinois & Iowa— See Chicago Ind & South.
Indianapolis & Louisville— See Chicago Indianapolis & Lou lsvllle
93 1886
Indianapolis Un— 1st M gold s f not callable— .1-P,c
1904
Gold notes part due yearly guaranteed t e x t -
___ —
Interborough-M et Co— Com stock MOO.OOO.OOO a d th .
Pref stk 5% cum (also pref as to assets) $o5,000,000
: : : 1906
Coll trust bonds gold sec b y Int R T stock ------ c*& r
1907
—
Coll trust notes $15,000,000 gold call 102.........Me.c
1907
Collateral trust notes extended In 1908
---.
Text
Interborough Rapid Transit—£>tock $35,000,000.
1907
Notes g (to be paid at 101 Sep 1), equally sec M ol
1907
Gold M bonds $55,000,000 red 105 (te x t)- M o .c 'r J
1908
Notes $25,000,000 sec by bds conv (text) -M o .x c r
1908
International & Great [Nor— R eceiver’s certs------------1879
1.109
First mortgage gold - --------------------------------------- 1.109 1881
Second mortgage gold — - - - — - - - —
3d M ($ 3 ,0 0 0 ,0 0 0 ) form erly Inc. lncl scrip g -.M c .c * 1.109 1892
1880
Colorado Bridge bonds sinking fu n d- - - - - - - - - - - - P
Interoccanic R y of Alex 1st pref sh, 5 ,« non-cum .
—
Second preferred shares
..........- - - - - - - :::
4% debenture stock subj to call at par £1,150,000
-----—
Debenture stock 7 % “ B ” subj to call 120 non-cum
Second debenture stock red at 105 after 1011 (text)
H ex E deb stock £450,000 guar red at 105 beg 1914
503 1888
Iowa Central— 1st M $7,050,000 g (V 49, p 582) -M e.c*
541 1901
R efunding M $25,000,000 gold (see text)-M o.c*& r
1909
Car trusts, ser A , due $32,000 yearly---------P eP .c
1908
Iow a & Northwestern— First M $6,000,000 gold ----"23 1894
Jacksonville Term — 1st M gold guar $500,000.M p.c*
S iz e , o r
Par
V a lu e
B on d s— P r in c i
pal W h en D u *
S to c k s — L a st
D iv id e n d
A m oun t
O u ts ta n d in g
R a te
%
$5,000,000
3.235.000
3 g
3 g
F
J
&
&
4.600.000
450,000
4 g
5 g
J
J
&
&
2,500,000
725,000
2,500,000
2 -4 g J
J
4 tf
J
6 g
&
&
&
July 1 1957
J New York
July 1 1957
J New York City
J Central Trust C o. N Y Jan 1 1927
040.000
160.000
4 vi e M
M
4 g
&
&
May 1 1926
N Fidelity Trust Co, Phlla Sept
1009-1910
S Treasurer, Indianapolis
45.740.000
&c 67.825.000
&c Sec text
4H g A
1 , 0 0 0 &c
$1,0 0 0
ty.
W h en
P a y a b le
W h ere P a y a b le, an d b y
W hom
1,0 0 0
1,0 0 0
1 , 0 0 0 , &c
500 &c
1,0 0 0
5,000
10 0
10 0
A 115 B roadway,N ew York Aug
Jan
do
do
J
Dec
D New York
J Illinois Tr & Sav B k, Ch Jan
11951
1 1951
1 1953
2 1925
O W indsor Trust Co, N Y Apr 11956
July 1 1910
May 27 1910
July 1 1909 2 )i.
9000
In 1908
Q— J „ Beimont & Co, New York Sept 11909
155 35.000.
do
do
M
&
S
1
0
.
0
0
0
.
0
0
0
5
g
1,0 0 0
N ov 1 1952
165
Broadway
„
M
&
N
5 g
1.000 &C 11.590.000
M & N Morton Trust Co, N Y May 1 1911
6 g
1 . 0 0 0 &c 23.424.000
M & N Office 195 B ’w ay. N Y Sept 1 1909
6 g
500 &c 11.291.000
1907 coup last paid
500 &c 10.391.000 See text M & S Sept
Sept 1 1921
M & S In default— See text
2,966,052
4 g
500 & c
1 1920
M & N May 1909 coup pd wh due May
7
198,000
1,0 0 0
Dec 12 1908 4 H
London
See
text
See
text
£1,400.000
£ 10
£ 10
Sept 151050
M & S 15 London
4
£1,150,000
Sept 15 1950
7 '07-'08
£ 10 0
1950
4
H
’07'08
I h
£ 10 0
Jan 1 1984
„
J & D 15 London
5
£400,000
£ 10 0
June 1 1938
Mercantile
Trust
Co,
N
Y
J
&
D
5
g
7,650,095
1,0 0 0
Mch 11951
do
do
M & S
5,720,000
4 g
1,0 0 0
vi & N Penn Co for Ins, &c,Phlla T o May 1 1919
5 g
320,000
1, 0 0 0
Jan 1 1958 .
.T
A
.1
(?)
1,0 0 0
j
& j Guaranty Trust Co, N Y July 1 1939
500,000
5 g
1,0 0 0
1904-05.
1905-06.
1906-07.
The entire $5,000,000 capital stock of the Central of Georgia was turned T otal gross earnings............................... $56,610,633 $51,636,405 $49,508,649
over to the Illinois Central In June 1909, but the road, It Is stated, will be
Net earnings over taxes........................ $16,545,108 $15,198,035 $14,306,943
operated Independently, at least tor the present. This will add 1,914 ml es
1907-08
Y A ZO O «>
& MISSISSIPPI V A L L E Y .— Resutts on t1,370
miles,In
to the system, adordlng a connection at Birmingham, A la., and an outlet
1” •
, in x 1907-08
to the Atlantic at Savannah, Ga. V. 80, p. 608 V . 8 8 , p. 1559.
ver. 1,297), 1.239 miles In 1906-07. See report at length in V . 87. p.
(aver.
2 045. Tenders asked of land grant bonds Jan. 1 9 0 0 , V . 88, p. 231.
Indlanap. South’ll R y .. Indianapolis, In d ., to Lfflngham IU., 177 m , Is
nninp/i Kiit s o n t t * 1v oner• V •78. p . 2442, V ■71), p •7*54, Do8 , v •8 o , p •71)o»
3 Fear—
G ross.
N e t(o v e r ta x ).
O th .l n c . C h a r g e s . A c .
B a l., su r
Completed Feb 1908 from Jackson, Tenn. to Birmingham, Ala., 219 m .,
1907-08 -.-$ 9 ,5 8 0 ,6 3 4 $1,322,482 $476,371 $2,117,363 def.$318,509
of V\°hlch Corinth, Miss., to HaleyvlUc, A la., 80 m ., is owned; rest trackage.
1906-07 . 1 . 9.324.021
1.4871583
326,540 1,742,916 sur. 71.207
C A P IT A L STO C K .— The lea sed lin e stock. Is secured by deposit of $10.O F F IC E R S .— Pres., James T . Harahan, V .-P ., I. G. Rawn;
abd
m n < io u Treas., ^
^ . H.
^ Gibson;
_______ _________
S ec.. A . G. u
Hackstaff;
E. T
Gen. Mgr. Frank
Frank B.
B.
0 0 S tock ^ d C T 8 °voted JMay
roa'se *the stock^’r o m 'w s ,040,000
General office, Chicago, i'll.; N . Y . office, 1 is Broadway.
Harrlman.
t o $123 552.000, one half of the new stock being subscribed at par by stock
D irectors.— W alther Luttgen, John W . Auchlncloss, J. T \ ^ ar‘7 '1.?J1h’
holders raising the am ount out to $109,2JO,out), v . oo, p. u oi, 1529.
Vanderbilt, J. Ogden Armour, Edwardl H. Harrlman,
On June 30 1908 Union Pacific owned $29,623,100 of the stock, V . 84, Cornelius
Astor. Charles A. P eabody, R . W . Goclet, John G. Shedd, A. G. Hacks tall,
n 51 102. 570; V . 8 6 , p 480.
and ex-officio, H on. Charles S. Deneen, Governor of Illinois. (V . 8 8 , p
1900.
D IV S T ’87. ’ 8 8 . ’89. *90 ’ 91-’ 99. ’ 00. ’ 01.S ep.’04. 0 5to 08
231,’ 295, 1061, 1127, 1560; V . 89, p. 103.)
7
C om . stk / 7
7
5^ 6
5 yearly 514
6 yearly
7 yearly
ILLINOIS SOUTHERN R Y — Owns Salem to Bismarck (Including R iver
B O N D S .— C a ir o b r id g e . See adv. In “ Chronicle, May 7 1892.
The tru st b o n d s of 1886 are secured b y deposit of $5,266,000 Chicago S t.L . Transfer. 1 m ile). 122,86 m .; Chester branch. Missouri
& New Orleans consols of 1881. In May 1908 they were given a lien on the
41.31
^
^
_____ _ _______
losed.
r° The c o n a te r 'a l^ lr u s fb o m ls ^ o t 1952 are secured b y pledge with the U . S. V 70, P- 1048; V . 71, p 7 2 9 ? Stock','com'.',' 5 4 ,0 6 '0 ,0 0 0 ; 6 % cum . pref.
Trust6 Co of N e ^ Y o r k of $16,350,000 5 % 1st mortgage gold bonds of $1 000.000; par, $100, all Issued. Of the bonds, $400,000 was reserved
subsidiary railroads covering 854 miles. See list, v . oo, P* ^50.
. ..
for lm prov. and equip, at not over $200,000 yearly. V . 79, p. 500.
The $25,000,000 co lla te r a l tr u s t b o n d s o
f
n n f sro'
R E P O R T .— For year ending June 30 1905 In V . 82, p. 158. In 1007-08,
thp i nnkv N O & Texas (now Y azoo & Mississippi Valley R R .), $16,
900 0 0 0 lJ tm t g e 'b o n d s except $68,000, all the $9,104,000 mtge. Incomes gross, $345,852; net, $73,211; lnt. and taxes, $243,417; b a l., t l c l . , $170,206.
and all but $ 9 0 ?6 0 0 ° o f V e $ l 0 ,0 0 0 .000 land grant Incomes. See adv. In Pres. J. W . Walsh; Treas., F. D. Kellogg; A ud., M. E. Keehan. Office.
Grand Central Station, Chicago, 111.— (V. 82, p. 108.)
'
'
^ L ou is A ^ e u ^ O r l e a n s 5s have their Interest guaranteed (by
ILLINOIS TE RM IN AL R R — Owns terminals at A lton. 111., and roa d .
endorsement) untlftfc principal Is paid J h e 8
of 1897 are guar., prln- A lton
to H artford, 111., 6 miles; Hartford to Edwardsvllle Jet., 7.1 m .,
leases from W abash R R ., Edwardsvllle Jet. to Edwardsvllle. 1.6 m . S tock,
C'^rhe niFes?erneiVnesy joan°of
"Suppaiement’ ’^of Jan.^1899.
$500,000;
par, $100. Year 1907-08, gross. $167,549; net $70,787, in t.,
Thp ^ T o u is D i v i s io n A T e r m in a l b o n d s are for $15,000,000 authorized,
.
T ? n n n nnn W th r e e ncr cents: $3,500,000 were Issuable for Im taxes, & c., $32,522; bal., sur., $38,265. Pres., Geo. M. Levis.— (V. 79,
provements e a u g m e n t &c . and $1,499,000 . re held to retire $1,400,000
ILLINOIS TUNNEL CO.— See Chicago Subway C o.— (V . 89,Ip. 103.)
S n d e r ^ n g bonds still outstanding on the St Louis Alton & T\ H system;
nf mnrtMffP In V 6 6 0 .1 3 8 . See also V. 6 6 , p. 133; V . 71, p. 546.
IN DIA NA ILLINOIS & IOWA RR — See Chic. Ind. & Southern R R .
* bT n n U v iiie n i v i f f i n * T e r m in a l m tg e . Is for $25,000,000; of the bonds
I NDI ANA HARBOR BELT RR — Owns W hiting, In d .. to Blue Island.
x i Ln 2 0 (IO werc reserved to nurchasc the 46 m . (Cecilia br.) from Louisville
1 N ishvllle and to retire the L. & N . bonds thereon. Chicago St. Louis & 111., 14.4 miles, McCook to Franklin Park, 111., 11.2 m .; Chappell t o U nion
Stock
Y d s., Chicago, 10.8 m .; State line to Grosselll, Ind., 4.0 m ., total
New O d eans7ook 0t.Ue to the Lou Isv . D lv am iJoined In making mtge See
owned, 41.3 m .; operates Jointly Chicago Term . Transfer R R ., Blue Island.
V . 6 6 , p. 136. for abstract; also ‘ Supplem ent of Jan. 1899. V . 65, p
I l l " to M cCook. 13.6 m .; raise, trackage, 39.6 m .; total. 94.6 m. N ov. 1
3 °T h e lp u rcb a s e d F in e s '}, H s
’ F ) 0 4* ($ 2 0 ,0 0 0 ,0 6 0 authorized) cover various 1907 acquired Chic. June. R y . V . 85, p. 1270, 1209; V . 86, p. 1 0 8 .
Stock outstanding, $2,450,000, all owned b y Lake Shore & M ich. Sou.
minor l K acquired
Of the bonds, $14,662,000 have been Issued on 734
o r the
Ham &
m of subsldlary branch llnes purchased, and the remaining $5,338,000 Is and Mich. Cent., which guarantee the bonds
rose?ved to reGre a tm a tu rity $968,000 bonds of the Kankakee & South- authorized Issue), $2,500,000 are reserved to retire the Chic. H<am
w ester^ lsts due 1021 (see bond table above) and $4,370,000 bonds of the Western 6 s and 5725,000 were Issued to retire the Mich. Central and term .
Chic. Mad. & North. (231 m .). which are> pledgedL for-the collateral trust R R . Joint 4s. The $2,500,000 bonds Issued In paym ent of Chic. ju n o .
R y. bear interest at 2% yearly from July 1 H*0? *or
108°)
4s of 1952. (See V . 71. p. 288; V . 79, p. 1273. 1642, 2588, V . 81, p. 1105.)
5 yrs.. then 4% to maturity; V . 86, p. 1 0 8 .— (V . 85, p. 1270; V . 86, p. 108.)
T'hp T p fu n d in n mortgage scold 4s of 1908 (authorized issue $110,000,000*
INDIA NAP OLIS UNION R Y .— Owns 3 miles o t track. •»» ^ » “ lie of
with the privilege on ssu in g $ 1 0 ,0 0 0 ,0 0 0 additional to acquire the Indianap
&
olis Southern ^
Ind-, to Effingham , 111., 177 miles) are subject road, with terminals at Indianapolis, Ind., ,a n d l ? asrcsX°^.?9n / t?a^
enUnt 1 0 7 u nnd Interest on any Interest day beginning N ov. 1 1918.
R R . of Indianapolis— 12 H m. (which see). . cI aV t n in f'iS rfth e V a n d a lla
& e v 87 n 1 ^ 5 7 1 4 2 0 ? v ! 8 8 ? P 295. Cover the main line, the Chicago St. Louis, the Pittsburgh Cincinnati Chicago & St. Louis and the Vandalla
R R . are virtual proprietors, they having Invested In It $9.0,331 to June jo
terminals * the so-called purchased lines, the Springfield Division, the St.
1007. No stock outstanding.
,
.. .
rin Phl„ A
L ontsD IvlsIon A c a total of 2,015 miles, subject to existing issues of
The $160,000 4% notes of 1904, guar. prln. and lnt. b y Pitts. C lm C h lc. &
bonds aggregating $61 766,000, lncl. $2,500,000 Chicago Havana & W est
St. L. and Cleve. Cine. Chic. & St. L ., mature $80,000 In 1909 and 1010.
ern 5s a n T R an tou l R R ! 5s pledged as part security under 111. Cent, gold
Commercial Trust Co. of Philadelphia, trustee. V. 80, p. 871.
E A R N IN G S.— 1006-07, gross. $1,013,894; net, $370,750; other Incom e.
4 3 P u rp o se 's f o r W h ic h $90,000,000 R e f u n d i n g B o n d s U n is s u e d A r e R eserved .
$13,163; total deductions, $290,654; bal., sur., $93,259.— (V . 83, p. 21J.J
To retire a like amount of prior Hen bonds--------- ------- — .$ 6 1 ,7 6 6 , 0 0 0
Additional main track, tunnels and bridges, purchase of real
INTERBOROUGH-METROPOLITAN CO.— O R G A N IZ A T IO N .— In co r
estate, Improvements, funding of Indebtedness and other ^
000
porated on Jan. 24 1906 as an amalgamation (per plan V . 82, p. 217. J8U) oi
the
Interborough Rapid Transit Co. and Metropolitan Street R y . In 1 eb.
In A orB lO O sm c'd 1a first Hen4 % gold V 3M 66 ;0 0 0 M uTp.'m tw . due Jan. 1
1907 $33,912,800 of the $35,000,000 stock of the Interb. Rapid lranslt C o.,
$42,740,000 of the $52,000,000 Metropolitan St. R y . stock and $29,373,100
of the $30,000,000 stock ot the Metropolitan Securities C o., Its holding
loans and bills payable outstanding. On account of this Indebtedness
com pany had been acquired. V . 82, p. 602. See In^tj>OTOU^h Rapid
Transit Co. below and Metrop. St. R y . In Electric Hallway Section
Favorable decision, V . 85, p. 99, 654. In Sept. 1007 ^ c^Xrir3PueJ en*w)'
b o n ^ w e r T s o l d . See a bove
B lllI payable outstanding Feb. 28 1909
pointed for Metrop. Street R y. and of Its lessee, the New Y ork City R y .,
$3,020,000.
whose stock Is all owned b y the Metropolitan Securities C o.,the Metropolitan
j
i
i
mos
H
9
08
-0
9
Gross.
$52,626,824;
net,
$12,094,589
E ARN IN G S Mav 31
Street R y . dividends being suspended. V . 85, p. 793, 804.
0 7 -0 8
Gross,. . 53.635,705; net, 11,687,268
July 1 to May
,1 9--------h
i
d
i
n
g
F
eb!
28
1909.
net,
$8,757,452,
against
$8,923,137
M il e a g e o f C o m p a n ie s C o m p r i s in g I n t e r b o r o u g h -M e t r o p o lit a n St/stem .
For 8 months ending Feb. 28 1909, net, $ 8
H-Iv_
in 1907-08; other Income, $2,107,289; charges and rents, $5,982,894, dlvs
Interborough Rapid Transit C o., s u b w a y ....................................” 2.20 miles
( 3 H % ) , $3,825,360; bal., sur., $1,056,487.
l i i ’ni?
Elevated (Manhattan Railway, l e a s e d ) - . - . - - - - - - - - ------ a ;
Surface lines owned or controlled b y Interb. R ap. T ran. C o . . 154.03 miles
R E P O R T .— Annual meeting Is held the third W ednesday In October,
New Y ork City Railway and subsidiary com panies--------------- .519.46 miles
R eport for 1907-08 was In V . 87, p. 932, £39; editorial, p. 907
I
n
c
.o
r
D
e
c
(N o t ln c l. Y a zoo A M . V . R R .) —
1907-08.
1908' ° ^
+ 50
T otal (single t r a c k ) _________________________________________ 873.74 miles
Average miles operated------------------4,420
.o S ’ Ri?
— $105,734
S T O C K .— The pref. stock has voting power upon default of paym ent of
Passenger earnings............................... * U ’ r m ’ 27l
—2,67 '>,460 dividend thereon. V . 82, p. 217, 280.
Freight earnings.................................... 35.357.811 38,033,271
+ 530,753
Mall, express, <5cc__________________ 10,838,047 10,307,294
D IV ID E N D S .— D lv. on pref., I H % quar., paid July 2 1906 to July 1007
Inclusive; none since to July 1909. V . 85, p. 600.
Total earnings.. . . .
$57,187,656 $59,528,097
$2,340,441
N eTovir u
x
c
s
1
7 t 04. o 04 M 9 .3 7 2 .0 M - 3 2 . 2 M . 0 8 o
V O T IN G T R U S T .— All the com m on stock Is deposited under a voting
Income from Investments, <fec_____
2,35^,525
2,818,o75
— 460,050 trust agreement to Mch. 6 1911, subject to termination In the dlscre
tlon ot the voting trustees, viz.; August Belm ont. W alter G. O a k m a n ,
n v foi net Income
819 462,529 $22,191,559 •—
—$2,729,030 Thom as F. R yan, Cornelius Vanderbilt and Peter A . B. W ldcner.
H lr o o fe q u ip r ^ n t ! &511111111111. 3.68 6 875
2,827.876
+ 858:909
B O N D S.— The collateral trust 4>*s of 1006 (W indsor Trust C o ., N .
Interest on b o n d s ..................... I - I - I
4,569,860
3.969,860
+ 600,000
trustee) are secured b y pledge of all the stock of the Interborougn
Kent of s ibsldlary roads....................
3,209,395
2
'
— 4b7, 337
Rapid Transit Co. or voting trust certificates therefor acquired at the rat
Dividends on stock, 7 % ----------------6,652,800
6,652,800
-------- ------of $1.000 In bonds for $500 Interborough Rapid Transit stock, V . 82, p . 280.
$5,034,291 — $3,690,692 A $500,000 5% mtge. due In 1911 covers property In 218th St. V . 83, p.
Balance, surplus____ . . . ____ . . . . $1,343,599
1.0 0 0
1.0 0 0
&
J
uly,
1 9 0 9 .]
R A IL W A Y ST O C K S AND BONDS,
69
ILLINOIS CENTRAL
C ° SYSTEM.
70
R A IL W A Y ST O C K S AND BONDS.
The collateral trust 3-year 5% notes of 1907 ($15,000,000 authorized
Issue) can be Issued only pro rata as the collateral m entioned (V . 84, p .
1248) In the deed of trust Is deposited. Collateral m ay be withdrawn on
deposit of an am ount of cash as fixed b y the deed of trust or additional notes
of M etropolitan Street R y . There are $4,545,000 6 % notes (extended) due
May 27 1910. V . 85, p . 1401; V . 8 6 , p. 1285.
R E P O R T .— R eport of holding com pany for year ending Dec. 31 1908
was In V . 8 8 , p. 227, 997: Total receipts, $3,348,044; ln t., taxes, & c ., $3 ,3 4 7 ,
017; balance, surplus, $1,027.
C o m b in e d O p e r a ti o n s — I n te r b o r o u g h R a p . T r a n . C o . a n d N . Y . C l i p R u .
1905-06.
C h an ges.
Y e a r e n d . M a r c h 31—
1906-07.
Gross ea rn in g s------------- ------------ $43,353,841
Operating expenses------------------ 21,841,884
$40,693,671
21,044,516
In c. $2,660,170
Inc.
797,368
N et earnings............................. $21,511,957
Other I n c o m e ...............................
1,187,464
.19,649,155
1,215,781
Inc. $1,862 802
Dec.
28,317
$22,699,421
T otal Incom e...............
•Interest rentals and taxes_____ $17,956,552
ln t. (4 >$%) on ln t.-M et. bonds 3,150,000
666,368
M etrop. St. R y . guar, dlvs------Int.-M et. 5 % pref. dividend___ 2,273,990
$20,864,936
$16,766,926
o 2 ,800,000
3,639,888
................
Inc, $1,834 485
Inc. $1 189 626
Inc.
350|000
Dec. 2,973 520
Inc. 2,273 990
D eficit.......................................... $1,347,489
$2,341,878 Dec. $994,389
•Excluding M etrop. special franchise tax In litigation, a Dividend
O F F IC E R S .— Pres., T . P . Shonts; V .-P ., J. B . McDonald. Office, 165
B roadw ay, N. Y .— (V .8 6 , p. 1285; V . 88, p. 227, 505, 686, 883, 997, 1372.)
INTERBOROUGH R A P I D TRAN SI T CO.— ( S e e M a p . ) — Incorporated
May 6 1902 In N . Y ., and In 1904 began operating municipal tunnel R R , in
N . Y . C ity, extending, with tw o tracks, from Battery to City Hall, and as a
four-track line from the City Hall (with two-track loop at that point) under
new Elm S t., Fourth and Park aves., to 42d S t., thence under 42d St. and
B roadway to 103d St.; also as two-track lines, partly viaduct, (a) from 103d
S t., on the W est Side, to Klngsbrldge Station, (ft) from 103d St. to the East
Side and B ronx Park. Extension (two-track) under the East R iver via
F ulton and Flatbush avenues to A tlantic A v ., B rooklyn, 2 t f miles, there
connecting with the Long Island R R ., was opened May 1 1908. Total, abou t
72 H m . of track on 2 5 ^ miles of road (of which 19 H subway and 6 elevated);
leases Manhattan R y ., 118 m .; surface lines owned or controlled. 154 m .;
total. 344 miles. V . 77, p. 827; V . 80, p. 222, 1912; V . 84, p. 1306; V . 85.
p . 600, 654, 1005; V . 86, p. 108, 1100.
The extension to Van Cortlandt
P ark, 1 mile, was opened In A ug. 1908.
V. 87, p. 285.
OfTer to build extensions, estimated at $100,000,000, V . 89, p. 41.
Leases Manhattan (Elevated) R y . for 999 years from Nov. 1 1875. See
that co. Has agreement with N . Y . City Interborough St. R y.,con trolled
b y allied Interests. 5 m . operated. V . 80, p. 117, 1175, 1479; V . 82. d .
868, 1268; V . 86, p. 1100. In March 1006 $1,814,000 of the $2,000,000
Subway R ealty stock was acquired. V . 82, p. 218, 513.
Owns stock of N. Y . & Queens C ounty R y ., 74 miles, and (Jointly with
L ong Island R R .) the N . Y . & L. I. Traction C o., 56 miles. V . 80, p. 2621;
V . 83, p. 818; V . 86, p. 1100. A lso owns New Y ork & Long Island R R .,
whose tunnels from Manhattan to Long Island C ity were com pleted In
A ug. 1907, but not operated to July 1909, owing to franchise dispute
(V . 81. p . 1492; V . 82. p. 751; V . 83. p. 1229; V . 84, p. 1248; V . 85, p .
345, 793, 864, 1339, 1518; V . 86, p. 669, 1344; V . 88, p. 101, 231, 624; Pel
ham Park R y. and City Island R R ., see security holdings, V . 83. p. 155.
C O N T R O L .— In D ec. 1907 $33,012,500 of the $35,000,000 stock had
been exchanged for 200 % In 4 H % collateral trust bonds of the Interborough
M etropolitan Co. (which see a b o v e ), secured b y the stock exchanged.
C O N TR A C TS.— Contract with city called for the construction of 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
easements, &c.) and a sinking fund of 1% yearly to retire the bonds. See
provision V . 82, p. 1157. In D ec. 1907 $5,934,798 was allowed for extra
construction. V . 85, p . 1461. The com pany also at Its own expense pro
vided the electrical equipment (costing over $26,000,000; see V . 82, p.
452). For contract see V . 69, p. 1063. The extension from City Hall
Manhattan to Brooklyn was built w ithout aid from the city except about
$4,000,000, and leased for 35 years with privilege of renewal for 25 years.
V . 86, p. 196; V . 75. p. 184, 1086, 1202. See V . 76, p . 101, 1234.
D IV ID E N D S .— July 1904, 2 % ; 1905, 8 % % ; 1906, 8J^% ; 1907 to July
1909, 9% yearly (Q -J),
BON DS A N D N O TE S.— $55,000,000 m ortgage bonds, dated N ov. 1
1907, with Interest at a rate to be fixed from time to time, are subject to
purchase at 105 and interest b y a yearly sinking fund of $300,000, beginning
N ov. 1 191 0, and also subject to call on any interest day at the same price
In amounts not less than $1,000,000. The proceeds to be used to provide
fo r the $35,000,000 notes due 1910 and 1911, and future requirements. In
July 1909 the $10,000,000 bonds reserved to retire the notes due March 1910,
which are to be called for paym ent on Sept. 1 1909, were sold. V. 89, p. 41,
103. The bonds are secured b y all the real estate and power houses, lease
hold Interest In the subway, Manhattan R y ., stocks and bonds owned,
advances to other companies and other property; total cash cost, $54,095,
419. The securities, amounting to over $4,000,000, known as "M anhattan
guaranty fu n d ,” which were to be released about July 1 1909 from pledge
fo r Derformance of lease of Manhattan R y ., are to be applied towards re
tirement of outstanding gold notes or gold bonds o f 1907; proceeds of N . Y .
& L ong Island R R . when sold are to be applied to reduction of mtge. debt.
The $23,424,000 3-year 6% notes dated May 1 1908, are secured b y
deposit of $ 2 8 , 1 0 8 , 8 0 0 of above bonds, into which they are convertible at
the option of the holder to N ov. 1 1910 at the rate of 99 In collateral notes
fo r $100 In bonds. The deposited bonds m ay be withdrawn after N ov. 1
1910 on paym ent In cash of at least 83 1-3% of the face value. V . 86,
p. 1100, 1042, 981; V . 87, p. 1479, 1610.
E A R N IN G S.— For 9 months ending March 31:
9 M o n th s
C ross
N et
O th er
C h arges &
B a la n c e ,
e n d . M c h . 31. E a r n in g s .
E a r n in g s . I n c o m e .
R e n ta l.
S u r p lu s .
1908-09 _____ $18,958,542 $10,867,414 $1,041,434 $8,859,173 $3,049,674
1907-08 ........... 17,811,055
9,884,463
915,861 7,984,007
2,816,317
11 m os. end. May 31 1909, gross, $25,594,439; net, $14,794,789; other Inc.,
1,404,769; ln t., taxes, & c., $11,823,357; bal. for d lvs., $4,376,201.
R E P O R T .— Report for year ending June 30 1908 was In V . 88, p. 371.
1907-08.
1906-07.
In crea se.
Total earns, from railway oper_______ $24,699,505 $22,902,580 $1,796,925
Total railway oper. expenses________ 10,722,695
9,593,331
1,129,364
Taxes accrued.....................
1,586,466
1,377,965
208,501
Operating Incom e.......................
$12,390,344 $11,931,283
Total net I n co m e ........................... ,...$ 1 2 ,9 7 0 ,3 0 9 $12,208,338
Interest on funded d eb t_______________ $1,250,000
$766,667
Rentals......................................
8,011,665
7,725,228
Amortization o f debt, dlsc’t & e x p . .
7,984
---------Dividends on stock, 9 % ........................ 3,150,000
3,150,000
[VOL. LXXXIX.
funds could n ot be secured. In Feb. 1908 foreclosure suit was begun
under third mortgage and In April 1908 under second m ortgage. V . 8 6
p. 547, 1042. R eceiver’s certificates, $338,730 6 s (since retired), were
authorized to p a y the interest due May 1 1908 on 1st m tge. bonds. V . 87,
p. 812. R eceiver’s certificates outstanding Jan. 1 1909, $140,000. Judg
ments, $4,929,098, entered May 14 1908. V . 8 6 , p. 1285.
B o n d h o ld e r s ' P r o t e c ti v e C o m m itt e e . — A com m ittee consisting of Mark T .
C ox, Edgar L . Marston, H . K . Pom roy and W . Emlen R oosevelt of New
York and John W . Hamer of Philadelphia (Farmers’ Loan & Trust C o.,
depositary) early In 1908 requested deposits of 2d m tge. bonds.
In July 1008 m ost of the $10,391,000 second m ortgage bonds had been
deposited. V . 8 6 , p. 1042, 1343.
B O N D S.— The 2 d m tg e. ln t., scaled to 5 % , upon default reverted to 6 % as
form erly. V . 73, p . 445. In June 1907 obtained authority to expend $100,
000 to $150,000 for passenger depot at San A n ton io. V . 84, p . 1551. On
June 1 1907 car trust notes and bonds $627,659.
E A R N IN G S .— 11 m o s .,(1908-09____Gross, $7,531,257; net, $1,512,275
July 1 to May 31. \1007-08____Gross, 6,366,782; net,
413,146
Y ears—
G ross.
N et.
O th er I n c . C h g e s ., & c .
B a la n c e .
1907-08 ____ $6,922,268 $363,560 $24,352 *$2,848,377 def.$2,460,464
1906-07 ____ 8,826,957 1,950,008
4,530
1,780,811
173,727
* Includes Joint facilities, $67,513, and hire of equipm ent,balance, $240,
130, and $272,402 fo r ad d ’ns and betterm ents.— (V . 87, p. 1238.)
INTEROCEANIC R Y . OF M E XIC O , L TD .— See page 169.
IOW A CEN TRAL R Y .— (S e e M a p . ) — Operates Peoria, 111., west to Oskaloosa, la ., thence northerly to Albert Lea, M inn., form ing a through line
via Minn. & St. L . R R .. from Peoria, 111., to St. Paul, M inn., 558 miles, viz.:
L e a s e s — (s to c k o w n e d .)
M ile s .
O w n s—
M ile s .
Iowa J et., 111., to Manly Jet.
Ia. C. & W ., Belm ond to A lg on a . 37
I o w a __________________________ 363 T r a c k , Iowa Jet. to P eoria----------------3
Branches to Belm ond, & c________ 127 Manly Jet., L a., to A lbert Lea,
Minn, (owned Jointly)---------------- 28
H IS T O R Y .— Reorganization (b y plan In V . 44, p. 653) of the Central
Iow a, sold In foreclosure In 1887-88. In June 1900 Minneapolis & St. Louis
Interests obtained control through purchase of the com m on stock; the two
properties are operated In close connection. V . 70, p. 1249.
S T O C K .— C om ., auth., $11,000,000; Issued, $8,524,683. P ref., author.,
$7,400,000; Issued, $5,674,771, The pref. Is entitled to 5 % (non -cum .),
then com . to 5, then both share pro rata. V . 62, p. 548. Par $100.
D IV ID E N D S .— On pref. In 1892, 1 % ; 1899, 3; 1900, \ V i, none since.
B O N D S.— The refunding 4s of 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 amount Is reserved. The balance is Issuable
for future extensions at not exceeding $25,000 per mile. Improvements and
equipm ent. V . 73, p. 899. In July 1909 $5,720,000 were sold and listed:
$395,000 additional In treasury. V . 86, p. 229, 1589; V . 87, p. 1420;
V . 88, p. 564; V . 89, p . 163. In 1909 sold $320,000 5% equip, bonds.
V . 88, p. 1437.
E A R N IN G S .— 11 m os., 11908-09......... Gross, $2,771,831; net, $838,389
July 1 to May 31.
J1907-08......... Gross, 2,780,880; net, 780,691
F or 10 months ending April 30 1909, net over taxes, $512,594, against
$846,694; oth. Inc., $100,682; fixed charges, $739,560; bal., d e f., $126,284.
A N N U A L R E P O R T .— Report for 1907-08 was in V . 87, p. 1233. C om
parisons are Inaccurate, owing to changes In accounting. Soft-coal tonnage
In year 1907-08 was 1,122.643 (49% of total tonnage.)
Y e a r e n d in g J u n e 30—
1908.
1007.
1006.
1905.
$3,132,048
$2,958,587 $2,588,300
Gross earnings.............. $3,002,475
Net earns, (over taxes).
786,645
981,840
774,849
460,218
T ot.n et rec’ts(lncl.rcnts)
970.917 1,201,467
992,536
661,438
Interest, rentals, & c . . .
755,718
755,872
755,094
738,511
Balance, surplus------ sur.$215,199 sur.$445,505 sur.$237,442 def. $77,073
— (V . 87, p. 1233, 1420; V . 88, p. 452, 564, 1437; V . 89, p. 163.)
G U A Y A Q U IL & QUITO R Y .— (3J4-ft. gauge.)— Owns from Guayaquil
to Quito, Ecuador, about 286 miles, with two branches, com pleted June
1908. V . 81, p. 556; V . 83. p. 1170.
Stock authorized, co m ., $7,032,000; p ref., 7 % cu m ., $5,250,000. Special
voting stock, $1,000 held b y the Council of foreign bondholders, who m ay
appoint 3 directors. The 5s (formerly 6s) of 1899 a regu ar., prln. and ln t.,
b y the G o v’t of Ecuador, secured b y a Hen, subject to that of theprlor lien
bonds, on all the customs duties, the G ovt, receiving 49% of com . stock.
Late In 1908 an agreement was made for the surrender of the four coupons
of the general series bonds from July 1907 to Jan. 1909 in exchange for
$90 of G ov’t Salt ponds bearing 4 % lnt and 4 % sinking fund, to be used
to draw the bonds for payment at par; also fo r the Issue of $2,486,000 of
6 % prior Hen bonds having a preferential mortgage on the road and customs
revenues redeemable by a sinking fund of 2 H % at par or as a whole at 105,
the Interest on the general series bonds being reduced from 6 to 5 % . After
the paym ent o f the prior Hen bonds the Government Is to continue to pay
5% and 1 % sinking
Tlle holders of the general series bonds received
$100 per $1,000 bond In non-Intercst-bearing certificates, the fourth part
of the surplus net earnings after paym ent of the Interest and sinking fund
on the bonds to be used to pay off the ctfs. V . 87, p. 1478; V. 88, p. 564.
Pres., Archer Harman; V .-P ., T . H. Powers Farr, New York: Sec. and
Treas., John J. Glnnane. N . Y . office. 25 Broad S t.— (V . 88, jp. 1499.)
JAC K SO N V ILLE TE RM IN AL R Y .— Owns union freight and passenger
depots and terminal properties at Jacksonville, F la ., Including 23 miles of
track used b y A tl. Coast Line R R ., Seaboard A ir Line, Florida East Coast
R y ., Southern R y . and Georgia Sou. & Florida R y ., the five companies
first nam ed guaranteeing b y endorsement the prln. & lnt. of above bonds
and owning entire stock. The five cos. each guar, one-fifth of the lnt. under
entals and meet expenses on wheelage basis.— (V . 71, p . 135.)
1 JAM ESTOW N FR AN KL IN & C LEA R F IE L D R R .— Owns from James
tow n, P a ., via Franklin, to Oil City, 51 miles; branches, 20 miles; under
construction from Franklin to Clearfield, P a., I l l miles, of which 55 miles
to be com pleted In 1909; also extension proposed, 5 m .; total to be 187 m iles.
Controlled b y the Lake Shore & Michigan Southern. A consolidation In
F eb. 1909 of the Jamestown & Franklin, Central Trunk and Jackson Coal
R R . and of the Franklin & Clearfield R R ., under construction from Franklln;
V . 88, p. 5 0 6 , 1002. The stockholders voted July 22 1009 to lease the road
to the Lake Shore & Mich. Sou. from April 1 1909 fo r the term of the cor
porate existence and renewals, and to make a m ortgage to the Guaranty
Trust Co. of N . Y . to secure not exceeding $25,000,000 4 % bonds, the pro
ceeds to be used to retire outstanding debts and bonds and extensions and
im provem ents. V . 88, p. 1313; V . 89, p. 225.
$459,061
$761,971
$483,333
286,437
JEFFERSON R R .— Owns Lanesboro, P a ., to Carbondale, P a .,37 miles
7,984 double track; branch, West Hawley, P a ., to Honesdale, P a ., 8 miles. Leased
..........
In perpetuity to the Erie R R . Co. for $140,000 per annum for main line
and $14,940 for branch. Used b y Delaware & Hudson to reach Carbondale.
Balance, surplus over dividends____
$550,660
$566,444 d e c . $9,784 Stock, $2,095,450; all owned by Erie R R .— (V . 87, p . 1479.)
D IR E C T O R S .— August Belm ont (Chairman), Alfred Skltt, Morton F .
JONESBORO LAKE CITY & EASTERN R R .— Owns Jonesboro to Bar
Plant, Andrew Freedman, James Jourdan, John Pierce, Geo. W . Young,
W m . A. Read, Cornelius Vanderbilt, Edward J. Berwlnd, Edwin H awley, field, A rk ., 67 miles; Osceola Jet. to Osceola. A rk ., 20 miles. Stock,
H . M. Fisher, Gerald L. H oyt, Theo. P . Shonts, New Y ork; and Gardiner $600,000. Bonds ($1,000,000 authorized Issue), Bank of Commerce &
Trust C o., Memphis, Tenn., trustee. For year ending June 30 1907 gross.
M. Lane, Boston.
Pres., T . P. Shonts; V .-P ., Frank H edley, David W . Ross; S ec., H . M. $185,621: net, $68,545; total deductions, $40,478; dividends, $9,700; bal.,
s u r., $9,367. Pres., E. F. Brown. Office, Jonesboro, A rk.— (V .81,p. 1665.)
Fisher: Treas., John H . Campbell. Office, 165 B roadway, New Y ork.
— (V . 8 8 , p. 101, 371. 505, 563, 1560; V . 89, p. 41, 103.)
JUNCTION R R . (Philadelphia).— See Pennsylvania R R .— V . 86, p . 421.
INTERNATIONAL & GR EAT NORTHERN R R .— ( S e e M a p M i s s o u r i P a K A N A W H A & MICHIGAN R Y .— (S e e M a p T o le d o & O h io C e n t r a l .) —
c i f i c . ) — Longview, on T ex. <5c P ac.(near Shreveport, L a .), southwesterly to
Owns
Corning, O ., to Gauley on the Ches. & Ohio, 177 miles, less 18 miles.
Houston and Galveston, also to Laredo, T ex ., on M ex. N ational R R ., and
P om eroy to Galllpolls, and 1 mile, Athens to Arm ltage, where H ocking
Spring northerly to F t. W orth; total Jan. 1908, 1,159 miles, viz.:
V al. R y . tracks are used. Also owns branch of 11 miles leased to Toledo
L in e s ow n ed —
M ile s
J o in t tr a c k a g e —
M ile s .
& Ohio Central and Col. Sandusky & H ocking R y . com panies.
L ongview , T e x ., to Laredo____ 494 Galveston H ouston & Henderson
In 1907 consolidation with H ock. Val. R y . proposed per plan V. 83, p .
Palestine to H ouston, T e x .
is o
(Jointly with M. K . & T .) --------- 60
Mlneola, Columbia, & c............I '" l 2 1 Other lines-------------------------------------- 26 271, 323, m inority stock being offered 60% In new stock. V . 84, p. 51; V .
85, p. 864; V . 86, p. 1224. The merger Is temporarily blocked, tne lower
F ort W orth to Spring___________ 261 H ouston, Oak Lawn & Magnolia
Navasota to Marflsonvllle_________ 4 7
P a r k R y ............................................. 10 Ohio State Court In Apr. 1909 holding control b y H ocking Valley to be
O R G A N IZ A T IO N .— Reorganized without foreclosure In 1892 under plan Illegal, but granting a re-hearing June 3 1909. Stockholders June 4 1907
In V . 54, p . 203, 366. Stock authorized Is $25,000,000; outstanding, $ 9 , authorized $2,500,000 2d mtge. 20-year 5% bonds, to be used mainly to
pay off $2,241,000 floating debt. Of these bonds $2,078,000 have been is
7 5 5 ,0 0 0 : par. $100; controlled In Interest of Missouri Pacific.
R E C E IV E R S H IP .— On Feb. 26 1908 J. F . Freeman was appointed re sued. V . 84, p. 1182; V . 85. p. 1402; V . 88, p.624, 1128, 1253, 1500.
ceiver. The March 1908 coupons on 2d and 3d m tge. bonds were defaulted,
H IS T O R Y , &c.— Reorg. In April 1890 of K . & O. R y. foreclosed (See
a large am ount of earlier coupons on 3d m tge. bonds also remaining unpaid,
V . 50, p. 451,483.) In 1890 a m ajority of stock was acquired by T ol. & Ohio
as well as a large amount of unsecured floating debt, and the Texas R R .C om Cent., which has guaranteed the bonds, prln. and lnt. (See V . 52. d . 165
mlsslon ordered Improvements costing several million dollars, for w nlch
351.) Capital stock, $10,000,000 ($1,000,000 In treasury July 1 9 0 9 .)
[VOL. L X X X IX .
R A IL W A Y ST O C K S AND BONDS.
72
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b les
M ile s
of
R oad
Jam est’n Franklin & CIcarf’ld NewM $25,00 0 ,0 0 0.0
8
Jefferson— 1st & 2d Ms ext In 87 & 81) (H dale B r ) .. c
37
1 st M Carb to S dep g e x t 1908 red 105 gu p& l-F P .c*
87
Jonesboro l.ake City & Eastern— 1st M #1.000.000 au
Junction (Philadelphia)— See Pennsylvania R R
15
Kanawha & Coal River— Joint M $750,000 gold a t . . .
164
Kanawha & M ich— 1 s t M $15,000 p m g g i p & 1-C e.c*
Second m tge $2,500,000 auth gold red par------ S.c*
Equipm ent tru s ts ..........- ................................ .................
Equipm ent bonds due $23,000 semi-annually---------do
do
due part sem i-annually..................
Kanawha & W est Va— First M $5,000,000 g t e x t ., c
Car trusts due $32,000 Dec yearly.........................-l?a
10
Kan Cy Belt— 1st ($534,000 guar K C F S & M ).N B .c
162
Kansas City Clinton & Spring— 1st M g g u a r .-.N B .c
Kansas City Fort Scott & Memphis R y—
R e f M $60,000,000 gold guar p & I en d _.M e.x c &r a9U
160
K C F t S & G 1st M Id gr s f dr’ n 110 (ext In 190 3 ).c
50
Memphis Kan & Col first m ortgage........................ c
26
Kansas & Missouri R R first m ortgage----------------- c
715
Kansas C ity F t Scott & Memphis R R cons M .N B .c
82
Current R iver R R 1st M $20,000 p m guar......... NB
3
Kans Cy & M R y & Bdge 1st M g s f drawn at 1 1 0 .c
Ozark Equip Co 1st M guar $1,000,000 call at p a r ..
285
Kans C y Mem & Blrm gen M $4,500,000 cu r .-O B .c
285
Incom e non-cum ulatlve___________________ OB.c
285
do
stamped fixed Interest redeemable t e x t ..
21
Blrm Belt 1st M gold red 102 H guar p & 1 e n d ..O B
Equipm ent notes Series A due $65,000 sem l-ann-----do
Ser B $85.000 due s-a (V 81, p 1044) — Ba
Kansas City Mexico & Orient— 1st M gold (see te x t).
Kansas City Outer Belt & E lectric--1st M $3,000,000g
Kansas City Southern— Pref stk 4 % n-c $21,000,000First mortgage gold $30,000,000__________ Me.c &r
Ret and lmp’t M $21,000,000 gold red 105------------N
Equipm ent notes gold red par due $72,000 s-a ------ N
do
do
gold ser B red par $30,000 s-a-----b Includes $245,000 held alive In sinking funds.
qAlso covers m ajority o f stock o f Kansas City Mem phis &
D a te
of
Lunds
1909
1867
1889
1905
1904
1890
1907
1902
1906
1906
1905
1906
1886
1885
S iz e, o r
Par
V a lu e
$1,000
1,000
1,000
1 .000
1 ,000
1,000
1,000
1,000
1,000
1,000
1,000
Am ount
O u ts ta n d in g
W h en
P a y a b le
R a te
%
W h ere P a y a b le, a n d by
W hom
B on ds— P r in c i
p a l, W h e n D u e
S tock s— L a st
D iv id e n d
See text
$300,000
2,800,000
476.000
4
5 g
5 g
Fidelity Trust Co, Phlla July ’27-Jan '29
Apr 1 1919
Erie R R . New York
Sept 1 1925
Memphis, Tenn
750.000
2.469.000
2.078.000
550.000
34 5,000
197,900
1,000,000
96,000
2.500.000
3.192.000
5
4
5
5
5
5
5
5
6
5
Bankers Trust C o, N Y Sept 1 1924
Central Trust C o, N Y Apr 1 1990
J P Morgan & Co, N Y July 1 1927
May 1 1912
Aug 15 '09-' 16
•July'09-July ’ 13
Scranton (Pa) Trust Co July 1 1955
R K leybolte & C o, N Y Dec '09-D ec '11
Office 50 State St, Bost July 1 1916
Old Colony Trust, Boston Oct 1 1925
&
6
g
g
g
g
g
Mercantile Trust C o, N Y
&
1901 1,000 &c 21.812,000
Old Colony T ru st, Boston
1879
&
5 b)
2,055,300
100 &c
do
do
&
7
1684
492.000
1,000
do
do
&
5
1882
390.000
1,000
Merc T rust, N Y ; & Bost
6
&
1888
1,000 13,736,000
Old Colony Trust, Boston
5
&
1887
1.606.000
1,000
Merc Tr C o, N Y ; & Bost
&
1889
5 g
1,000 b3.000,000
Old Colony T r C o, Boston
5
&
12 >,000
1900
1,000
do
do
4
&
1894
3,323,390
500 &c
do
do
March
1894
387,280
500 &c
do
do
5
M & S
1894
5,948,500
500 &c
do
do
1902
1,000,000
1,000
4g A & O
713.000
1905
4 'A g J & J Blair & Co, New York
do
do
1905
4 'A g F & A
1,020.000
1,000
&
A Amer E xch Nat B k, N Y
1901
1,000 See text
i gg F
2,000,000
A & O U S M & T . 20 Broad,N Y
1903
4
1,000
Checks mailed
Q— J
100 21,000,000 4 In 1908
A & O New Y ork Trust Co, N Y
1900 1,000 &c 30.000.
000 3 g
J & J New York
000 5 g
1909
1,000 10.000.
1905
936.000
1,000
4 >4 g M & N Blair & Co, New York
do
do
4$4 g J & D
1906
420.000
O ct 1 1936
June 1 1911
Sept 1 1910
Aug 1 1922
May 1 1928
Oct 1 1927
Oct 1 1929
M ay-N ov 1 1910
Men 1 1934
Mch 1 1934
Mch 1 1934
O ct 1 1922
T o Jan 1 1915
Feb '10-A ug '15
Feb 1 1951
A pr 1 1953
July 15 1909 1 %
A pr 1 1950
April l 1950
Nov '09-N ov '15
D tc '09 June '15
Blrml ngham, ?. 83 miles, an d provld es for retl remcnt o f Its bonds.
requirements and additional rolling stock at not over $ 1 ,0 0 0 ,0 0 0 yearly,
beginning Feb. 1 1906. On com pletion of road there will lie left in the
treasury for each mile o f com pleted road $7,500 bonds, $ 4 , 0 0 0 pref .and
$7,500 com . stock. V. 78, p. 102; V . 81, p. 1411; V. 87, p. 37, 508. Of the
$16,484,000 bonds Issued July 1909, $3,500,000 were sold, $4,3.18,UUU in
the com pany’s treasury and the remainder was owned by the Union and in
ternational Construction com panies, which are building the road. V. 88,
K A N A W H A & WEST V I RG IN IA R R . — T o’ extem l from Charleston, VV- p. 1500, 1560. Under agreement In force until A ug. 1910, the com pany
V a., to Bclva on the Gauley R iver, 55 miles, of which 39 miles com p leted ’ pays Interest only on the bonds sold, the Interest on the bonds held by tne
balance under construction. Controlled b y same Interests as Blue Creek construction com panies being debited to cost of construction. In April lou s
Coal & Land C o., owning 44,000 acres of coal and timber land In Kanawha $700,000 2-yr. 6 H % notes (denominations $500 each) were oUered, secuieu
County. Stock authorized, $5,000,000; p a r o f shares, $100. Of the $5, by deposit of 200% In 1st mtge. bonds, and In O ct. 1908 £200,000 6% 5 -yr.
notes, due Aug. 15 1913, but subject to call after 3 years, secured per £100
000,000 authorized 1st 5s, (Scranton Trust C o., trustee), $1,000,000 have
been Issued, the remainder being limited to $2o,000 per mile. The first note by $1,000 In first mortgage bonds, the notes being convertible Into
the deposited bonds taken at 80. V. 86, p. 081; V . 87, p. 1011, 1420.
$1,000,000 of the Issue are guaranteed, prln. and Int., by the Blue Creek
In May 1902 made an agreement with St. Louis Union Trust C o., as
Coal & Land Co. and are subject to call at lOo and Interest. V . 83, p 1524;
trustee, to secure $2,000,000 car-trust bonds, and In F'eb. 190o with tne
V . 84, p. 339. Pres., Edward S. Jones; V .-P ., W . A. MacCorkle; Ireas.,
American Locom otive Co. to secure $1,000,000 locom otive bonds.
T hos. E . Jones; S ec.. W m . D. B oyer.— (V . 84, p. 339.)
V . 81 p. 777.
Mexico & Orient Townslte C o., see V. 78. p. 1109,
1113; V . 85, p. 345, 722.
KANSAS C ITY BELT R Y .— See page 168.
O
F
F
IC
E
R
S
.—
Pres.,
A . E. Stllwell; V .-P s., Enrique C. Creel. Geo.
KANSAS CITY CLINTON & S PR IN GFI EL D RY — Owns from Olathe.
Crocker and J. S. Bralthwatte; V .-P . and Gen. Mgr., Edward Dickinson.
Kan. to Ash Grove, M o., 154 miles; Raym ore Jet. to Pleasant Hill, M o.,
S
ec.,
Neal
S.
Doran;
Treas.,
E. E. H olm es. O ffice,1 0 th S t. and_ Baltimore
8 m .; total. 162 miles. Stock. $ 1 ,775,400. Bonds were guar, by the K an, A v e ., Kansas City. Directors,
V . 88, p. 1313, 1500. N . \ . office, Sln„c
City Ft. Scott & Mem. R R . (old co.) For year ending 1907-08, gross, $333,
Building.—
(V
.
88,
p.
1313,
1500, 1560.)
_
105; net, $76,934; charges, $190,887; b a l., d ef., $11J,9 o3. (V .73, p.723.)
KANSAS CITY OUTER BELT (STEAM) & ELECTRIC R R .— This co m
KANSAS CITY FORT SCOTT & MEMPHIS R Y . — (See M a p s R o c k I s la n d
pany Is constructing a belt line road at Kansas C ity, th e „nJ^Ll?r t^ et’hP°irnw
C o . ) — Operates Kansas City, M o., to Memphis, T enn., and branches, 914 m .,
track, being 7 miles In length, extending from No. Kansas City to the Kaw
Also has a controlling interest In stock of the K . C. Mem. & Blrm. R R .,
Valley on the west, with bridge across the Missouri R iver. Grading and
owning line from Memphis, Tenn., to Birmingham Ala., with branch, 285 bridging practically com pleted March 1908. Will afford an entiancc Into
miles, and of Kansas City & Memphis R y . & Bridge Co., own ng bridge
Kansas City for the Kan. City Mex. & Orient R y ., a n d J r r r i t *
across Mississippi R iver at Memphis, 3 miles,
total, 1,201 miles.
various steam roads entering that city. Incorp. In 1902 by lnteiests
O R G A N IZ A T IO N .— Incorporated on June 14 1901 and Is vested with friendly to K . C. Mex. & O. R y . V .7 5 , p. 184; V. 76, p. 331, V . 80. p. 871.
the property of the former Kansas City Ft. Scott & Memphis Railroad; also
S E C U R IT IE S .— Stock authorized, $2,500,000 com . am} *2.250,000 4 %
controls other mileage. V . 72, p. 1237. See V. 72, p. 438, 532, 675, 988.
pref. The stock will be held In a voting trust of ten members until tde 9*“
The St L & San Fran. R R . owns the entire stock and leases the road, guar
dividend
shall have been paid on the pref. for 5
anteeing the bonds of 1901, prln. and Int., and 4 % on pref. stock trust certs.
V. 76, p. 331. Of the $3,000,000 authorized 1st gold 4s (see table above)
STOCK — Common authorized, $45,000,000; outstanding, $15,000,000,
$2,000,000 have been sold; the entire cost of construction and equipment
all owned b y St. Louis & San Francisco R R . The pref. stock ($15,000,000
was estimated at not over $2,000,000 In bonds, leav tl? , t,s iimncc
authorized of which $13,510,000 Is outstanding, par $100) Is deposited In slons and Im provem ents.— (V . 75, p. 184; V . 76, p. 331; V. 80, p. 871, 2JJ9.)
escrow, and against It are Issued trust certificates of the St. L. & San F. R R .,
KANSAS CITY SOUTHERN R Y .— Company opera t es va.A 1
^
*
the latter having the option to retire the certificates at any time at par,
Ing from Kansas City, Mo., to Port Arthur, re x ., thence b y its ship canal,
and obligating Itself to pay off the whole Issue In 20 years from date (O ct.
7 miles, to deep water on the Gulf of M exico, with branches and extensive
1901), and meanwhile to pay quar. 1% thereon. See V . 72, p. 1238. •
terminals used b y various roads entering Kansas City.
•
BO N D S.— The refunding bonds of 1901 (limited to $60,000,000) are
L in e s O w n ed —
M i l e s .1
L in e s O w n e d .
a n ie j.
Kansas City, Mo., to Belt June. 12 [Branches to F ort bm itn, u c
secured b y all property now owned, or hereafter acquired with the pro
Q ulncv. L a., e t c --------------------- 51
ceeds of the refunding Issue. Of the bonds, $ 11,650,000 were subscribed for
Grand View, M o., to Port Arthur,
n June 1901, about $31,025,770 were reserved for exchange against the
T e x ...................................................765 T r a c k a g e — T o Grand View, M o .. 11
face am ount of underlying bonds, $3,000,000 for refunding purposes, $5,
......... 83C
000 000 for Im provem ents,betterm ents and new equipment at the cumu
lative rate of $600,000 per annum, and the residue, as well as any bonds
Also owns* entfre"$650.000* each'ot"sto'ck* and bonds otA rkan sas W estern
R y ., Waldron to Hcavener, A rk., 32 miles, operated separately, also co n
not used or required for refunding purposes, will be reserved tor Issue tor
additional lines and extensions, at not exceeding $22,500 per mile thereof.
trols K . C. Shreve. & Gulf Terminal Co. V . 83, p. 38, 492.
As to guaranty, see "organization” above. V. 75, p. 853. See V . 87, p. 414.
O R G A N IZA T IO N .— A reorganization of Kan. C .Pitts. & Gulf R R ., fore
In 1902 the K. C. Ft. Scott & Mem. R y. guaranteed the Interest on all
In 1900 per plan V . 69. p. 1012, 1062. V . 7 3 >
except $387,280 of the $6,322,780 K . C. Mem. & Blrm. Income bonds, be closed
The voting trust having expired April 1 1905, a bow m a n a g ^ e n t was
ginning March 1, the bonds so guaranteed being stam ped with a provision
elected In May 1905 and extensions suggested, ' “ eludingone to^New^Orleans.
making them subject to call at any time within 10 years from Sept. 1 1902
V. 80. p. 1971; V. 81. p. 559; V . 84, p. 1366. In 1 9 0 9 contracts were mado
at 95 and Interest. V . 74, p. 477, 577.
for Interchange of freight with the Harriman lines. V. 88, p. J7o. c o m
B ir m in g h a m B e lt bonds are guaranteed, principal and interest. Jointly b y
mon
stock, $30,000,000; par, $100.
Kansas City Memphis & Blrm. and St. L. & San Fran. V . 75. p. 1147.—
S E C U R IT IE S.— The stockholders on June 28 1909 ®’b t}1? r,Tzcd an lssuo
(V . 86, p. 1042, 1159, 1529; V . 87, p. 414; V . 88, p. 1061; V . 89, p. 163.)
$21,000,000 "refunding and Improvement bon s datcc July 1 1909.
L A T E S T E A R N IN G S.— /1908-09____Gross, $1,971,720; net, $308,335
11 m os., July 1 to May 31. 11907 0 8 ____Gross, 1,845,498; net, 175,832
Surplus overcharges, 11 m onths, $144,696, against $97,492 sur. In 1907-8.
R E P O R T .— R eport for year 1907-08 was In V . 87, p. 872, showing,
gross, $2,022,938: net, $234,870; oth. Inc., $164,125; Interest, taxes. & c.,
$270,603; betterments, $116,893; bal., surplus, $11,498.— (V. 88, p. 1500.)
KANSAS CITY LAWTON & PACIFIC RR.—V. 83, p. 751.
KANSAS CITY M EXICO & ORIENT R Y .— (See M a p . ) — Projected to
extend from Kansas City. Mo® toT op olob a m p o Bay M exico, on the Pacific
coast, 1,659 miles; also a cut-off from San Angelo to Spofford.Jet., le x .,
connecting there as well as at Chihuahua with Mexican lines for Mexico City.
In N ov. 1908 com pleted from W ichita, K an., south to the Red River (State
line between Oklahoma and T exas), 272 miles; and the K . C. M. 4 0 , R y,
Co. o f Texas com pleted from the Red River to Sweetwater, T e x ., 160 m .,
making a continuous line from W ichita, K a n ., to Sweetwater, l e x . , 432
miles. From Chihuahua, M ex., eastward to a point 2 miles beyond the
Conchos R iver. 90 m .; Mlnaca. M ex.. west to Sanchez. Mex.. 75 m .;
T opolobam po eastward to H ornlllos, 73 rn., and from San A ngelo, T e x .,
northward. 11 m ., which, with trackage over the Chihuahua & Pacific R R .,
Chihuahua to Mlnaca, M ex., 121 m ., makes total in operation 802 miles.
Track Is laid on 52 miles between Sweetwater and San Angelo, l e x .,
and will be com pleted on the remaining 25 miles by Sept. 1 1909.
The Hamburg-Amerlcan SS. Co. has contracted to establish a trans-PacIflc
line as soon as the railroad Is com pleted (V . 77, p. 401). Liberal subsidies
have been granted b y the Federal and State governm ents in Mexico. See
prospectus, V . 75, p, 1253, and V . 83, p. 95, 1 4 1 1 , V . 86, p. 668.
The Kansas City Outer Belt & Electric R R (see that com pany below)
will, when com pleted, afford terminal facilities and an entrance Into Kan
sas City. V . 76, p. 331; V . 80, p. 871.
S E C U R IT IE S .— Stock authorized, $20,000 per mile each In com m on and
non-cum ulatlve 4% p ref. stock; outstanding July 1909, p ref., $l^ ,o00 ,000,
co m ., $10,539,275. In June 1909 increase to $37,500,000 each of com . and
p ref. stock was authorized. V . 88, p. 1500. Stock is held in ^ voting trust
until Jan. 1 1917, the voting trustees being A. L . Stllwell, W . VV. Sylvester,
W . A. Rule and W . S. W ood s, Kansas City; R obert H . Law, Chicago; D oug
las J. Neame, Harold D . Arbuthnot, Lewis R endcll, Baron Boxatl and H . J .
Channery, of London, England. V . 83, p. 1411.
Bonds (U. S. & Mexican Trust C o., trustee) are Issuable at $22,500 per
m ile, single main track, $15,000 per mile, yard and terminal track, and
$12 000 per mile of double track, constructed or acquired; also, $2,500,000
for extra work In Sierra Madre Mountains, $5,000,000 for terminal fa
cilities at Kansas City or Topolobam po, or both , and $10,000,000 for future
____________ _— requirements.
.. — .
. „
D IV ID E N D S .— First dtv. on p ref. stock, 4 % , paid July 1 1907 ou t of
earnings for fiscal year 1906-07; O ct., \% \ 1908, \ / o (Q* «!•)* U 0 9, Jan.,
1 ' L A T E S T E A R NI NGS%— / 1908-09------ Gross, *8 >®°l>32?i {“ }{:'
12 m os., July 1 to June 30.11907-08---- Gross, 8 >8° 3,!30A : A W
i *
For year ending June 30 1909 (June 1009 estimated) .g ro s s, $8,77^ 000,
net, $3,550,000; charges (not Including 5% notes w lled for payment July i
1909, $2,175,000; Int. on $10,000,000 new ref. bonds calls foi $o00,000.
R E P O R T for 1907-08 at length was In V . 87, p. 1007, l 030- ^
^
1906-07.
D
1907-08.
““
~ e c . (— ).
$9,037,547
— $278,618
Total gross receipts.............................
5,354,118
+ 400,202
Operating expenses.............................
5.754,321
3,683,428
— 678,820
N et earnings............................................
o ’?n«'5na
3,853,559
— 715.353
T otal net Income......................................
3 'i2 o'7!ia
183,849
+ 99,289
T a x e s .........................................................
283,158
1,183,759
+ 41,294
Interest on bonds, & c----------------------- 1,2
30,611
— 13,868
M iscellaneou s..........................................
1 6 .'4 J
840,000__________ ___
Dividend on preferred stock, 4 % —
840,uuu ____________
B a la n ce , surplus.................................
RESULTS
O F P R E V IO U S
$773,272
$1,615,339
— $842,007
Y E A R S — O LD B A S IS .
1906-07.
1905-06.
1904-05.
1903-04.
Gross earnings_____ . . . $9,084,332 $7,568,332
$6,078,215
Net earnings.................. 3,744,813
2,036,057
1,805,300
1,968,012
D IR E C T O R S .— Chairman, L. F. Loree; P res., J. A. Edson, Hermann
Slclcken, J. A. Blair, VV. T . Rosen, I). G. Boissevain, Andrew J. Miller,
W . O. Street, W . H. Williams and E. R . Bacon of New York; John J.
Mitchell of Chicago: S. W . F’ordyce and A dolphus Busch of St. Louis;
G. M. Craig, Port Arthur, T e x .; W . F . H arrlty, P hlla., Pa.: Secretary is
R . B. Sperry. Office, 25 Broad S t., N . Y .— (V . 89, p. 42, 103.)
J u l y 1909.1
R A IL W A Y ST O C K S AND BONDS.
73
R A ILW AY STOCKS AND BONDS.
[V
o l
.
Ju
ly
, 1909.J
R A IL W A Y
STO C K S
A N D
BONDS.
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c ., see n o te s
o n fir s t p a g e o f ta b les
Kansas C ity St Joseph & Council Bluffs— See Chicago
Kansas City Slirevep & (iulf Terminal— 1st M red 105
Kansas C ity Viaduct & Term— 1st M g s f(text) S.c*&r
Ken & 1 Br & R R — Ken & I B 1st M gold assumed___
First consolidated mortgage $2,500,000 g o ld ..S ,c
Kentucky & Tennessee— 1st M $850,000 gold (see text
Keokuk & Dcs Moines— Preferred s t o c k ____________
First mortgage Interest guaranteed C R I & P ____c*
Keokuk & Hamilton Bridge— First m ortgage_______ c
Kewaunee Qreen Bay & Western— First m ortgage.F .c
Kingston & Pembroke— First mortgage gold ------------Klondike Mines— First mortgage $30,000 per m ile____
Knoxville & Ohio— Sec Southern R y
Lake Erie & Detroit River— See Pere Marquette R R .
Lake Erie & W estern— Common stock $20,000 p m ..
Preferred stock 6 % (not cum) ($20,000 per m ile)___
First mortgage ($10,000 per mile) gold ------------ Ce,c*
Second mtge for $3,625,000 ($5,000 p m) g old ._C e.c
Lake Shore & Michigan Southern— S tock ------------------Guaranteed 10 % stock (Michigan South & N or Ind)
First mortgage $50,000,000 gold __________ U s.c*& r
Bonds (not mortgage) $50,000,000 gold ___ G.c*&r
do
do
$50,000,000 g o ld ...................
Notes $15,000,000 gold ............................................. c&r
Kalamazoo & W hite Pigeon first mtge assum .U n.c
G u a r a n te ed S e c u r i ti e s —Battle Cr & Stur 1st M gold guar p & 1 (see M Cent)
Sturgis Goshen & St Louis 1st M gold p & 1 g u a r ..
Kalamazoo Allegan & Gr Rapids stock rental guar
First mortgage guaranteed___________________ ( j nc
Erie & Kalamazoo (leased) stock Toledo to Palmyra
Lake Shore System — Mahoning Coal R R — Stock . .
Preferred stock (see te x t)________________
First M Youngs to A nd &c guar p & 1 (end)'” ” U n'c
Lake Sup & Ishpeni R y— 1st M $1,200,000 g s f__F.‘ c
M ile s
of
R oad
162
162
D a te
of
B onds
ngton
1897
1905
1881
1900
1905
*37
113
31 Vi
1878
1869
1891
1882
1905
711
711
711
711
1887
1891
1897
1903
1906
1907
1890
1889
1889
1888
1884
1896
IN T E R E S T OR D IV ID E N D S
S iz e, o r
Par
V a lu e
&
A m oun t
O u tsta id in g
Quine
$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
KANSAS CITY VIADUCT & TE R M IN A L R Y .— (.See M a p . ) — Owns and
operates an elevated railway and highway viaduct from Bluff and 6th
streets, Kansas City, M o., to Minnesota Avenue and 4th Street. Kansas City
Kan. A branch viaduct, H mile In length, under construction, connecting
the main structure, and thus the two cities, with the Interlylng railroad
and manufacturing districts. Main structure com pleted F eb. 1907 1 6
miles, minimum width of 60 feet; material, steel and concrete. See V . 82
p. 160; V . 84, p. 271, 931.
'
S TO C K .— Stock authorized, $3,500,000; outstanding, $3,447,700 (par of
shares $100), of which a m ajority Is deposited In a voting trust for 3 years
from com pletion of viaduct or until dividends of 4 % have been paid for two
consecutive years. V oting trustees: H arvey E. Fisk, John P. R eynolds Jr.,
Francis S. E aton.
.
? S ; T £ lrst,I?10rt£a£c 4 M % bonds authorized, $3,500,000; outstand
ing, $3,312,000. Beginning with 1910 a sinking fund am ounting to 6 % of
gross receipts for preceding year Is to be paid July 1 to retire bonds on satis
factory terms; otherwise to be Invested.
BaU— ( V 8 ? ‘ pIC804 C)£: V‘ P' and Trcas' ’ J’ P' Reynolds Jr-i Sec., E. E.
KANSAS & COLORADO PA CIFIC.— See Missouri Pacific.
h r iE lw
f t . INDIA NA BRI D GE & RR CO.— Owns steel cantilever
T n,,i«tin » rrS ° hl,° R lv cr ,at Louisville and 5 miles of railroad between
Louisville, Ivy. and New A lbany, In d ., and 5 miles of belt line In Louls^ Km unm lYS^ ° I U sn e <SjJr'f<Tv Ai,bany Pe,rry C o- Successor Jan. 31 1900
? lndlana bridge C o.. sold In foreclosure subject to the
I Sr / ? 0 rtHanT. l h e Southern R y ., Baltimore & Ohio South
western (B . & O.) and Chicago Indianapolis & Louisville own the $75,000
capital stock, and pay m onthly. In proportion to cars handled, anv deficit In
operations. Of the $2.500,000 first consol. 4s, $1.000,000^were reserved tS
retire 5s due 1911 and $500,000 for Improvem ents. V 7 1 p 49 2
E A R N IN G S .— For year ending June 30 1908, gross, $239,008;' deficit
under Interest charges, &c., $236,135. Pres., C. C. F. Bent; Sec and
Ireas., II. W . Hazlltt; Gen. Mgr., W . M. Mitchell.— (V. 71, p. 287, 342.)
KE NT UCK Y & OHIO BRID GE CO.— V. 81, p. 1492; V . 82, p. 1370
KE NT UCK Y & TENNESSEE R Y .— See page 168.
K E O K U K & DES MOINES R Y — Owns from Keokuk, la ., to Des
Moines, la... 162 miles. Leased for 45 years from October 1 1878 to the
Chicago R ock Island & Pacific R y. The lessee pays 25 '{, of the gross
earnings, but guarantees the Interest (not the principal) on the bonds.
Stock Is $1,524,600 preferred and $2,600,400 com m on (par, $100), a
m ajority of which is held by the lessee. Pref. entitled to divs. up to 8% If
earned and to share with com m on stock In any excess over 8 % .
D IV ID E N D S .— 1 ’ 99. ’00. ’01. ’ 02. ’03. ’04. ’ 05-’07. 1908. 1909.
On preferred, %
{ y2
H
1 1
2
1 >4 None. A u g ., 1 H
May, 1
1:, . In 1007-08, 1906-07, 1905-06, 1904-05, 1903-04 and 1902-03,
$137,500 (bond Interest) yearly.— (V. 87, p. 37; V . 88, p. 944.)
n K E O K U K & H A M I L T O N BRI DG E C O .-O w n s bridge across Mississippi
River at Keokuk, la ., for railroads and foot passengers. The property was
originally leased to four companies, but only two com panies now use It,
these being the Toledo Peoria & Western and the W abash. Regarding
m ifra.n t y ’ .scS V< 59’ IJ-,060- ° n Judgment of 1889, $203,000 has been collccted; on Judgment of 1894, $142,000; In April 1901 $142,000 was awarded.
y ,nJ.2, P' ?21. Stock, $1,000,000; par, $100. Coupons are In default, but
mortgage has never been foreclosed, and overdue Interest Is paid as earnings
perm it. Last coupon paid, 1st half o f N o. 48 (due Apr !93) in A pY 10„9
Troas- TO™ |“ » « " » » « :
KL O N D I K E MINES R Y — Dawson City to Sulphur Springs, 31 K miles
com p eted Jan. 1907; projected from Sulphur Springs to the Stewart River
60 miles. Stock authorized, $2,500,000; outstanding, $ 9 4 3 000
The Daw
son Grand Forks & Stewart River R y . C orp., L td ., owns all the stock and
bonds. V . 82, p. 509. Bonds, see table above. V . 81, p. 725’ V 86 p
857, Pres., H . B. McGlverln; Sec., Andrew H aydon. 19 Klein St Ottawa
S.an.—
(V . 81, p. 725; V . 82. p. 509; V . 86, p. 857.)
a t., Ottawa.
KINGSTON & PEA!BROKE R Y .— See page 168.
„ LA KE ERIE & WESTERN R R — R O A D .— Owns Sandusky O
to
Peoria, 111., 413 miles; branch to Minster, 10 miles; branch. Indianapolis to
Michigan City, 159 miles; Fort W ayne to Conncrsvllle and branch to Rushvllle, 129 miles; total owned, 711 miles; leases Northern Ohio R R . Akron
to Delphos, 162 miles; trackage, 13 miles; total operated, 886 miles'.
H IS T O R Y , & c.— Formed In 1887 after foreclosure of the Lake Erie &
Western R a il w a y . (See V. 50, p. 590; V . 85. p. 600.)
In 1899 control
passed to the Vanderbilts, and on Jan. 1 1909 the Lake Shore & Michigan
South, owned $5,940,000 com . and $5,030,000 pref. stock. V . 71, p. 1269.
D IV S .—
1 ’02-’ 98. '09. ’00. ’ 01-’03. ’04. ’ 05. ’ 06. ’ 07.
*08’
1900
On p referred ./ 5 y ’ly. 0
2 4 y ’ly.
3
3
3
3
1
0 '
In 1908, Jan., 1 % ; July, none. V . 86, p. 1529.
R a te
%
$150,000
4
3.312.000
4H
1,000,000
5 g
1.069.000
4 g
620,000 _ 6 g
1,524,600 See text
2.750.000
5
1,000,000
8
408.000
5
572.000
3g
£192,000
6
11.840.000
11.840.000
7.250.000
3.625.000
z49,466,500
533,500
50.000.
50.000.
35.000.
15.000.
400.000
See
text
5 g
5 g
12 In ’09
12 In ’09
000 3H g
000
000 \ s
000 i e
Is
79,000
3 g
322.000
3 g
610.000
5.95
840.000
5
300.000
10
1.500.000 12 In ’09
661,367
5
1.500.000
5
175.000
6 g
z N cw Y ork Central holds $45,289,200 o f this.
an^^terndnaPnTY rTn
— r ° own a union passenger depo
hv \,.*?rTiivn■!riq1
"ru1f C ltyl \l0;; wlth approaches, to be controlled
kt
p » i P h il
?• R - J ; * P a c-. A tch. T op . & S. F ... Chic. Mtlw.
W
a
b
a
s
h
&t ’ ^ ouls * San Francisco, Union Pacific
W n r n rm t fi S ' & Quincy Mo. Pacific and Mo. Kansas & Texas
tn a^m.irU tm.1
Stock auth., $50,000,000. In Oct. 1908 contracted
io fu f^ U re P lc st0?,k
^ le Kan. C. Belt R y . The City Council on .July 7
h !°!i!!?n itCt n ordinance permitting erection of the station, &c., which will
.nut A . UtC 1 to .V 'e e'ccTors. V .8 9 , p. 163. Of the bonds to be auth. (delrl ;\Ich- ° 9 ) , part will be used to pay for land and terminal
racllltles and to erect the station, and a further am ount will be reserved to pav
for the K . C. Belt R y. and to retire Its bonds. V . 83. p. 95: V . 85. p.«405 In
A ug, 1906 $3,000,000 was borrowed at 4
Int. , guaranteed by the ten
roads, bonds to be Issued when conditions favor. V . 83, p. 323. Pres.
H . L. Harm on; Sec., C. C. R ipley: Treas., E . F. Sw lnney.— (V . 89, p. 163.) ’
io
W h en
P a y a b le
F &
J
&
M &
A &
M &
See text
A &
A & O
J
& D
J
& J
J 30 & D
o
&
&
&
&
&
&
&
&
A
D
S
N
W h ere P a y a b le, a n d b y
W hom
Kansas C ity, Mo
Fisk & R obinson N Y
Louisville
Standard Trust C o, N Y
Central Trust C o, Chic
Office, 115 B ’w a y , N Y
do
do
55 W illiam St. As earned
O ffice, 40 W all St, N Y
45 B roadw ay, New York
Bk Brit N o A m , London
B on d s— P rin ci
p a l, W h e n D u e
S t o c k s — L a st
D iv id e n d
A ug 1 1927
Sept 1 1934
March 1911
A pr 1 1950
Sept 1909-1923
May 1 1909 1
O ct 1 1923
A p r 11899
June 1 1921
Jan 1 1912
D ec 31 1924
O ffice, Gr Cent S ta, N Y Jan 15 1908 1%
Chase N ational B k, N Y Jan 11937
do
do
July 1 1941
Grand Cent Station, N Y July 29 1909 6%
Aug 2 1909 6%
June 1 1997
Sept 1 1928
May 1 1931
Feb 1 1910
do
do
Jan 1 1940
Dec
Dec
A pr
July
Lincoln Nat Bank, N Y Aug
Grand Cent Station. N Y Aug
Union Trust Co, N Y
July
do
do
July
Farmers L & Tr Co, N Y Jan
1 1989
1 1989
1909
1 1938
1909 5 %
2 1909 6 %
1909 2>4%
1 1934
1 1926
? r ° ^ D S- T £ bst£?ct ot flrst m ortsrase In V . 46, p . 45; of second m ortgage
in V . 54. p. 444. Guarantees $2,500,000 5s Northern Ohio, which see. S
E A R N IN G S .— 5 m o s .,f 1909................Gross, $1,782,760; net $214 281
Jan. 1 to May 31.
11908................ .G ross, 1,615,737; net, 101 ,' 14 4
A N N U A L R E P O R T .— Annual report for 1908 was in V . 88 n 8 7 9
Y e a r e n d in g D e c . 31—
1908.
-----‘
1907.
1906.
Gross earnings.
................................. $4,534 , 7 8 9
$5,066,940 $5,212,812
Net (Including other Incom e).
775,148
1,219,125
1.451,318
D educt— Taxes ......... .................
213,650
211,382
263,066
Interest on bonds_________I . I l l ”
543.750
543,750
543,750
Northern Ohio Interest guaranteed"
125,000
125,000
125.000
Rentals and m iscellaneous_______
144,845
95 329
69,341
Dividends on preferred s t o c k ..
-.I ( 2 % ) 2 3 6 !800 (3% ) 3551200
Additions and b etterm en ts.............
______
87,092
20,815
Baktnce, surplus or d eficit..............def.$272,912
sur.S6 864
(V. 86, p. 795, 852; V. 87, p. 1664;V. 8 8 ,p . 231, 748, 879.)
sur.$7,868
L A K E SHORE & A1ICHIGAN SOUTHERN R Y .— (S e e M a n s N e w Y o r k
Cc?(fraL)— Operates from Buffalo to Chicago with branches. The main fine
(537) miles) Includes 26 miles between T oledo and Palmyra Mich ' under
lease from the Erie & Kalamazoo (533 miles has double track)
’
R
**“
o a dJ o—
w n ed
-- d irectly .
...
M i l e s^.
.
L e a s e d ( * s e e th is C o .)
M ile s
Buffalo, N. Y ., to Chicago, 111___ 5 3 7 Kalamazoo A . & G. R
5s
Sundry b ra n ch e s.............................. 3 3 j Jamestown & F r a n k l i n . ...........
*1
E n ti r e stock o w n e d .
Mahoning Coal R R . . ........... " "
70
Detroit & Chicago_________ . .
25 Erie & Kalam azoo (26 miles)" T ext
Detroit Monroe & T o le d o ........... 51 Detroit Hillsdale & S W ____
*65
Kalamazoo & W hite P igeon............ 3 7 Fort W ayne & Jackson..............I *oa
Northern Central Michigan.............. 61 Detroit Toledo & Milwaukee. .
67
Sturgis G & St L o u i s _______
. 29 Battle Creek & Sturgis___
7
Central T runk.....................
5 T r a c k a g e at D etroit___
'
3
Elkhart & W estern______
” 12
_____
Grand total oper. Jan. i 19'09” (of which owned, 1,092 miles)
1 5 1 1
D u 'nltk 0 l i K o S
’S
r i "
V (a'In n 5 7 ^:i007 '(2 0 0 SAt0<;k o f Chfcago,Indiana & Southern R R .. which see.
A•
J 5A ’ 754‘ As t 0 consolidation In 1909 under title of Jamestown
Franklin & Clearfield R R ., leased, see that co. abov e. V. 88, p. 9 4 4 .
& c-— A consolidation on A ug. 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 V,no 11 tCh g*av? ln ?,x c!?a n ;e lts
bonds at the rate of $200 In bonds
for $100 In stock. V . 6 6 , p. 288; V. 69. p. 1237.
us
Now \ ork Chicago <Ss St. Louis road has been controlled b y ownershlD of
I 882' Lake Shore now owning $6,240,000 of Its com m on
$6,275,000 o f Its second preferred and $2,503,000 of Its first preferred^tock'
I / 1® ^ ™ P any also controls and leases the Mahoning Coal R R . (see Lake
S5 °ornn niriStp!Vtctbi?
,o w ^? /besides entire stock o f proprietary lines)
rm v e °
I^!,IIsburl»k & Lake Erie stock; $30,207,700 of the $50,000,000
t iis A n n o n
c a g 0 & S j ' Louis com m on stock; also $5,940,000 o f the
& P ? i ° ’0 0 0 , com !IU)n and 55,930.000 o f the $11,840,000 Lake Erie *
Western preferred. V . 71. p. 1269- V 72 n 8 7 0 - v
1
In 1908 $5,700,000 Lehigh Valley stock owned was sold .' v ! 87, "p. 1 5 3 3
Also owned Jan. 1 1909 $60,665,000 Reading Co. stock acquired b v the
ra^nnnlV«Pnna„ 'y andf rblIt^ lnV ests’ vlz': 55.055,000 flrst preferred. ^$14
^ ,a '2 0hd ,Sf CK°n l pr^ err.ed and 510,002,500 com m on stock, the other half
being held b y the Baltimore & Ohio. V . 80, p. 1856. As to purchase of
one-sixth Interest ln m ajority Hocking Valley R y. com m on sto?k see that
com pany. V. 76, p. 102, 158; V . 77. p. 451; V . 83. p 3 7 .
’
C
■tr
of stoclcs of companies owned Dec. 31 1908, V . 8 8 o 764
See also
V . 78. p. 48, 1904; V . 80. p. 1852; V . 82, p. 749.
P
b
130
o.
) ’93-’ 97. '98. '99 to 1903. ’04. '05. '06. ’07. ’ 08
1909
Since 1892, % / 6 yearly. 6 X
7 yearly.
8
8
8
12
14
10
Jan. 1908 dlv. Included 6% s.-a. and 2% extra; July 1908, 6 % .
it R(2/Jcts.— F or $50,000,000 mtge. of 1897, see abstract In V . 64, p. 1182 and
V . 66. p. 1140; V . 68, p. 1182; V . 73. p. 1264; V . 75, 0 . 290; V . 77 p 2035
The $o0,000,000 debenture 4s of 1903, due 1928, are to be secured b y any
new m tge. V 77, p. 1747, 2035; V . 78. p. 48; V. 80. p. 1912.
y
to
1 r t r n 0nnnSnnA0 0 0 '0 0 0
25-year 4% bonds due 1931 ot an authorized
Issue of $o0,000,000 were sold for lmpts. V. 82, p. 392; V. 8 4 , p 996
Jointly with four other roads covenants to pay $30,000,000 N. Y Central
w W .sw “
“ ■*
G E N E R A L F IN A N C E S .— N othing has been charged to construction or
equip, acct. since 1883 except $7,500,000 for new equip. In 1906 the outlavs
charged to operating expenses for new equip, acct amounting in i M 7 in
5911.126 W i n 1906 to $1 201.877, ( m d % r c o n s t r u c r n t o T l % l % In
1908, against $4,082,988, these Items being exclusive of expenditures for
renewals. Profit and loss surplus Jan. 1 1909, $21 5 1 5 868 In Tan 1 9 0 7 ^
$15,000,000 3-year 5% notes were sold. V . 8 4 * p . 271.
1907
E A R N IN G S .— 5 m os., 11909------------- Gross, $16,596,549; net. $5 714 348
Jan. 1 to May 31.
]1 90 8 ------------- Gross, 14,892 200* n et' 4 ' 6 5 8 ' 5 Q7
For 4 m os. ending April 30 1909, net, $4,449,385 agst S3* 8 1 1 0 5 8 In
1908: taxes accrued, $500,000; other Income, $1,431 641’ total deductions
$3,372,446; dividends (4 % ). $1,978,660; b a i* sur., $29,921.
”
’
A N N U A L R E P O R T for 1908 at length was ln V . 88, p. 7 4 2 , 763
Y e a r e n d in g D e c . 31—
1908.
1907.
1906
Total gross earnings............................... $39,964,858 $44,953 475 $42,544 378
Operating exp e n se s............................. 28.004,288 34.538,461 32.675,80*
Net earnings--------------------------------- $11,960,570 $10,415,014
$9,868,577
R A IL W A Y
70
R A IL R O A D S .
F o r e x p l a n a t io n o f c o lu m n h e a d in g s . & c .. s e e n o tes
o n f i r s t p a g e o f ta b les
I
T ih oe Dv & Tr Co— 1st M g $500,000 s f beg 1905
Lancaster Oxford & S o u t h c r n -ls t M $200,000 g o l d Manufacturers— 1st M serial Interest ren ta l..
h P am ie Hahn’ s IP & Pac— 1st M $8,000 per m g.A B .c
L n r s t ret M $1,800,000 gold sink fund red 1 1 5 --G .c ;
Tw o-year coupon notes, $250,000 gold, r e d . - . - . - c
Leavenworth Terminal Ry & Bridge— 1st M g o ld -.C e
Lehigh & Hudson River— 1st M gold lnt red to 5 /o .C e
. Second mortgage g o ld -.................. - — r j'.V In n r i—
| W arwick Valley first mortgage extended In 1 9 0 0 ...
Leh & Hud R lv gen M $3 ,0 0 0 , 0 0 0 g (see text) Ce.c*
Debentures $400,000 redeem 105 after N ov 1 9 1 1 --Eaulp trust certs gold due $40,000 yearly— -P eP .c
I ehiirh & New England— 1st M $1,000,000 g o ld -.F P
LeN ortbam pton ls t M g $300,000 guar red 105-FP.o*
Lehigh & Delaware first gen mtge redeemable at 105
Consolidated mortgage $3,000,000 gold call at 1 0 5 ..
General mtge $7,500,000 gold red 102 ^ --G u P c *
Equip tr ser A g gu red 102
due $30,000 yrly.G u P
I ehlah Valley— Comm on s tock ------------------------------ u P
L p referred stock 10% (V 79, p . 1 5 1 . 269) . . .
GP
First mortgage extended In gold in 1898 — GP.c& r
'
C o^soU d?t°dM \coupon & reg $4,762,000 4 H s .c& rl
$40,000,000 ( .annuity $2,538,000 are 4 >£s--FPJ
General consol mtge $150,000,000 gold —
Collateral trust bonds $19,000,000 see te x t.G P ,c*& r
Equipm ent trusts Series C g o l d - - - - - - - - - - - — PeP
Equipment trusts gold Series D , last Installment. .
do
gold Series G, last Installment
do
gold Series H, due $90,000 yearly---------do
gold Ser I. due $400,000 yrly (V85,p412)
do
gold, due $250,000 s-a Series J -.U s m .c *
B o n d s o f C o n tr o lle d P r o p e r t ie s —
Lehigh & N Y 1st M gold guar p & 1......... Alp.c*&r
Leh V a lo f N Y 1st M gold guar p & l (end) -G P .c '& r
Lehigh & Lake Erie first m ige $3,000,000 g o l d - - -
STO C K S
D a te
of
B on ds
S iz e , o r
Par
V a lu e
Am ount
[VOL. LXXXIX.
BONDS.
IN T E R E S T
M ile s
of
R oa d
R a te
W h en
P a g a b le
OR D IV ID E N D S
W h e r e P a g a b le , a n d b g
W hom
B on d s— P r in c i
p a l, W h e n D u e
S to ck s— L a st
D iv id e n d
%
& O Merc Trust Co, San Fran Oct 1 1931
5g
$300,000
$1,000
& O Farmers Tr Co, Lancaster Apr 11935
5g
200,000
100 &c
Union Trust Co. Detroit July 1 1915-30
5g
75,000
1,000
Amer Loan & Tr Co, Bost July 1 1929
6 g
240.000
1,000
LBarnum&Co.N Y& LosA Oct 1 1932
&
O
6
g
480.000
1,000
Dec 15 1910
& D15
250.000
6 g
500 &c
Central Trust Co, N Y Jan 1 1923
5
g
600.000
1,000
July
1 1911
1
Irving
Nat
E
xch
Bank)
5g
800,000
1,000
N Y , and First N atl July 1 1917
5 g
104.000
1,000
) Bank, W arwick, N Y ) July 1 1911
&
O
145.000
4
H
500 &c
& O I
I A pr 1 1912
6
240.000
500 &c
]
i July 1 1920
5 g
1.320.000
1,000
Irving Nat Exch Bk, N Y July 1 1920
4
239.000
1,000
June 1 ’ 10-'16
Philadelphia
&
D
280.000
4H g
1,000
& J 108 South 4th St, Phlla July 1 1945
5g
1,000.000
1,000
Jan 1 1052
do
do
&
J
5
g
300.000
1,000
July 1 1954
do
do
&
5
650.000
1,000
Oct 1 1953
do
do
&
O
5
g
1.380.000
1,000
April 1 1958
do
do
&
O
4 g
750.000
1,000
& D Guar T r & S D Co, Phlla To June 1 1923
4H g
420.000
1,000
July 1 1909
3
Checks mailed
&
J
6
In
1909
40,334,800
50
July 1 1909
B
do
& J
10
106,300
50
& D Office, 228 So 3d St, Phil June 1 1948
5.000.
0004 g
1,000
1868
Sept 1 1910
do
do
&
S
7
6.000.
000
1,000
1870
Dec 1 1923
do
do
& D
1,000 10.400.000 4 H & 6
1873
Irredeemable
do
do
& D
1,000 12.600.000 i y i & 6
1873
JPM organ& Co.N Y& Phil May 1 2003
&
N
4
g
26.639.000
1903 1,000 &c
Feb ’ 10-Feb 26
do
do
& A
4 g
1,000 16.500.000
1905
& D Phlla Penn Co for Ins, &c June 1 1909
4*4 g
200.000
1,000
1899
Mch
1 1910
Prov
Life
&
T
r
Co,
Phlla
&
S
4H g
300.000
1,000
1809
Aug 1 1910
Philadelphia
100.000
1,000
1902
T o Feb 1 1913
4
g
In
treasury
1,000
1905
T o Sept 1 1916
4 g
1906
1,000 In treasury
Sept’ 09-Sept’ 17
Philadelphia
4M g
4.250.000
1907
1,000
Sept 1 1945
JPM
organ&
Co.N
Y&
Phil
M &
4 g
2,000,000
1,000
1895
July 1 1940
do
do
4H g J &
1,000 15,000,000
i 1890
Mar 1 1957
M
&
S
4
H
g
3,000,000
1907
1901
1905
1905
1904
1907
1908
1893
1881
1887
1879
1881
1890
1907
1906
1895
15 1902
1904
1903
All
1908
All
1908
1908.
1907.
1906.
N et, Including other Incom e________ $16,653,237 $16,131,433 $14,022,082
Rentals paid
______
1,100,382
1,420,244
1,450,186
g w j * oa
.................. ; •;“ » ; « }
;;SJJ:»75
i S l l 'o
Surplus over dividends......... - - - - A$1,539,962
1
-(V . 87, p. 226, 1533, 1605: V . 88, p. 231, 37o, 742. 763, 944.).)
I A KE SHORE SYSTEM — MAHONING COAL R R .— Owns from
Youngstown to A ndover, O ., and branches, 72 miles. In Dec. 1907 pur
chased a one-half interest In the Lake Erie Youngstown & Southern and
Lake Erie & Eastern railroads, building a belt and switching line from
Girard to Struthers, reaching factories In Youngstown, O., and vicinity.
Leased In perpetulty for 40% of gross earnings to Lake Shore, which
Ian 1 1909 owned $865,900 com m on and $399,oOO preferred stock.
D IV ID E N D S .— 1 *01. '92. '93. ’ 94. ’95 to A u g .’06. ’07. ’ 08. 1900.
On com m on
4 X 8)1
8
8
10 yearly.
12 12
12
The preferred"stock certificates arc 5% guaranteed and contain a clause
making them redeemable at par at option of com pany.
Year ending Dec. 31 1 9 0 s, rental and other incom e, $754,Olo; surplus
over Interest and 12% on com . and 5% on pref. , $ 164,968. (V . 83, p.1524.)
I AKE SUPERIOR TE R M IN A L & TRANSFER CO.— Owns 16 miles of
track used for transferring cars between the depots and tracks at W est
Sunerior Wls of the proprietary com panies, viz., Northern Pacific, Chic.
St.PPaul Minn! & Omaha and Dul. South Shore & Atl.^vvhlch owns $119,400
stock ($1 200 000 auth .). On April 1 1909 the $195,000 6% bonds were
retired. 1 D M Phllbln. P res., W est Superior, W ls.— (V . 88, p. 883.)
L A KE TAHOE RY. & TRANS. C O — See "S ec ” A pr. ’ 06.— (V .86,p.337.)
LANCASTER O X FO R D & SOUTHERN R R — See page 168.
LANSING MANUF ACT URE RS ’ R R — See V . 81, p. 1375; V. 82, p. 692.
( A P A MIF HAHN’ S P E A K & P A C I F I C R Y .— Owns from Laram ie,W yo.,
to A lbany, W y o .. 40 miles. Extension under construction from Albany to
Hebron C olo;, 68 m ., of which 15 m. being graded March 1909. Stock
authorized. $9 000.000 com m on: preferred 6% non-cumulatlve, $1,000,000
authorized- par of shares, $10. (See V. 77, p. 824.) In Dec. 1907 the re
funding 6s P( $ l .800,000 authorized Issue) were offered, $240,000 being
reserved to retire the first 6s and also an amount sufficient to retire the
* 9 ^ 0 ooo 6 °7n notes* they are subject to call at l l o for a sinking fund of at
least’ $50.0(h) yearly, beginning 1912 V 85 p. 1 6 4 6 ; ’V .g g . P 1061 Pres.,
Fred. A. Miller, Laramie, W y o .— (V. 8 0 , p. 1646, V. 8 8 , p. 1061.)
LEAVENWORTH TE RM IN A L R A I L W A Y & BRI D GE .— Owns highway
a n d 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
mtge 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-ycar contract from 1894, and Chic. Gt. Western from Sept.
1 1895 for 30 years: rental $14,250. For year 1907-08 gross,, $46,224; net,
$ 3 1 ,0 3 6 ; lnt , $30,000; bal., sur., $1,036. Stock. $ 6 0 0 ,0 0 0 .-(V . 69, p. 494.)
I FH fflH & HUDSON RIVE R R Y .— Owns from Maybrook on Central
New England R y . to Belvldere, N . J ., on the Penn. R R .. 75 miles; track
age S . E . & P. R R .. Phllllspburg to Easton 1 m .; trackage Penn. R R ..
Belvldere to Phllllpsburg, 13 m .; Ont. 3s W est., Burnside to Campbell
Hall 2 m • d L & W trackage, A ndover Jet. to Port Morris, N. J.. 8 m .;
total onerated 99 miles. V". 79. p. 269. Stock. $1,340,000; par. $100.
t0tnOI'J>DS — (If the $1 320.000 gen. mtge. bonds out, $1,062,000 are guar,
join tly n and 1 by tlie Central ItR . of X . J. and Leh. Coal & Nav. Co. An
additional $1 3 5 0 0 0 0 are reserved to take up prior liens and $330,000 for
extensions or acquisitions c f connecting roads. In May 1908 permission
was given to Esue $270,000 additional bonds, but none were Issued to
Dec 190*
V 86 p. 1285. See form of guaranty. & c „ in V 67, p. 788 :
also V 85 p 1513. Equlpt. trust 4 USs. V. 83. p. 96. On Jan. 29 1909
was authorized to Issue 8 notes for _$ 13,072 each In part payment for 12
freight locom otives. V . 88, p. 375.
E A R N IN G S.— 9 m os.,f 1908-09................£ ros8> 5r ? r ’? ro-'
July 1 to Mch. 31. { 1 9 0 7 - 0 8 - - - - - ---G r o s s . . ®45,469, net, 168,o47
Deficit after charges, $241, against def. $3,874 In 1907 0 8 .
ANN U AL R E P O R T .— For years ending June 30, 1V 87, p. .1415. Com
parison with 1907-08 figures Is Inaccurate, owing to changes In accounting.
Y e a r e n d . J u n e 30—
G ross.
A'ei.
l n t .. T a x e s , A c .
B a la n c e .
1007-08.............................$851,519
$243,996
^ 6 8 ,7 7 6
d ef.$24,780
1006-07............................. 844,334
304,283
260,896
sur. 43,387
Lewis A. Riley, Pres., Philadelphia, P a .— (V . 88, p. 375.)
LEHIGH & NEW ENOLAND R R ,— Operates road from Slatlngton, P a.,
to Campbell Hall, N. Y ., 95 m ., Bethlehem to Bangor, Pa., 31 m .; Bath to
Martin’s Creek, Pa.. 20 m .; branches, 32 m .; total, 178 m ., of which two sec
tions, aggregating 35 m ., arc trackage, leaving 143 m. owned. V. 79, p.
2642. Lehigh Coal Sc Navigation Co. owns con trol. V . 78, p. 1781, 1962.
SE C U R IT IE S.— Stock, $1,000,000; par, $50. Of the generals of 1908
($7,500,000), $1,200,000 were Issued to retire floating debt Incurred for
Improvements, $100,000 to retire Lehigh & Lackawanna bonds maturing
Dec. 1 1908, $3,250,000 reserved to retire remaining underlying bonds
and $2,950,000 for future requirements. Car trusts, guar, by Lehigh Coal
& N av. C o.. V . 86, p. 1343, 1409.
E A R N IN G S.— For year ending June 30 1908 (132 m iles), gross, $656,933;
net, $233,897; charges, $280,920; bal., d ef., $ 4 7 026. Pres., W . A. Lathrop; V .-P . and Gen. Mgr., Rollln H . W ilbur; V .-P . and Gen. Counsel, W m .
Jay Turner; Sec. and Treas., H. F. liaker.— (V . 86, p. 1343, 1409.)
LEHIGH VA LLE Y R R .— (See M a p . ) — Jersey C ity. N . J ., opposite N. Y .
City, to Buffalo. N. Y ., 450 miles, with branches, viz.: (*See these cos.)
H IS T O R Y , &c.— In 1901 the Erie, Lackawanna, Central of New Jersey,
Reading and Vanderbilt Interests entered the directory, but In 1908 the
Erie and other holdings were reported as sold. V . 72. p. 137, 391; V . 86,
p. 228; V. 87, p. 1533. The Reading Co. on June 30 1908 owned $1,000,000
and the Central R R . of New Jersey $1,600,000 stock. V. 81, p. 971.
F or list of securities owned see V . 66, p. 187.
A N 1J
In October 1905 the entire capital stock of Coxe Bros. & C o., ° 'vu,lig exte n s lv e co a l properties In Luzerne and Carbon counties, I a ., and of the
n ,.i!w ire Susquehanna & Schuyklll R R ., extending from Drlfton to
Gowen P a., 31 miles, with branches, 17 mdes, were a ^ u lr e d . J j -0
••Finances” below. V. 81, p. 1175, 1242, 1376; V. 82. p. 100; V . 83, p. 702.
r e ' or E n u re
S ,o *
ow
orn-^ N
^
115
Buffalo N, Y ., to Sayre, P a . . .
181
to No. Fair H aven, N. Y . . .
78
mi ||f(io _ Harrc ■
to Jersey
Other - - - - - - - - - - - - - - - ••* * * * ■■*
c itv -- - - - - ................ 174 L e a s e d — State Line & Sullivan.
*28
------ r “
Fimirn. Cortland & N o r * - - - - - - 139 ‘ etc — — - —
47
Branches
............................. 544 T r a c k a g e t o S u s p . Bridge, & c._
Pa & N Y".,W ilkes-Barre to Pa.
Total June 30 1908--------------1»'140
State lino (with 43 miles
branches) --------------- ------------ 1401Second track.................. - ............. 588
COAL P R O P E R T Y .— The Lehigh Valley R R . Co. owns extensive coal
lands and all the ($1,965,000) stock of the Lehigh Valley Coal Co.
The Hazelton Coal Co. (chartered In 1906) stock Is owned and Its 52.000 000 llrst m ort. 5s also owned and guaranteed— see V. 04, p. 13” • 1 , 1 1"05
purchased the holdings of Coxe Bros. & Co. V . 81, Pm ni
1
The Coal Co. shipped from collieries owned and controlled 9,263,899 tons
of anthracite coal in 1907-08, against 8,867,254 tons In 1906-07, total coal
and coke tonnage. 1907-08 was 14,522.262.
t h v s ,— 1 ’ 8 8 t o ’91. ’ 92. ’93. ’ 94 t o ’03. 1904. ’05. ’06. ’07 ’ 08. 1909.
Slnce’87 % ) 5 yearly
5X
4
None
1
4
I n i d O I to 1909 2% and 1 % extra scm l-an.
V. 84, p. 102, 158, 15.j I .
B O N D S.— T hegen. consol, m tge. of 1903 will secure $150,000,000 bonds
bearing not to exceed 5% ln t., covering the entire road, the stock of the
t ehlch Valley Coal Co. and other stocks owned. Of the bonds. $10,000,000
were is-uable at once, $ 1 0 ,0 0 0 , 0 0 0 were reserved to retire car trusts and
eoal-purchase bonds, $96,000,000 to retire at or before maturity outstanding
ilxed obligations amounting to $94,130,000 (lncl. the coll, trust bonds, and
s? 000 0 0 0 coal trust ctfs. of 1902, which were called for paym ent), on pay
ment of which the general consols will be a llrst lien on all the property of
the svstem . except as to $12,600,000 annuity bonds, which are a perpetual
charge- the remaining $34,000,000 were issuable at not exceeding $2,000,000
a year or such larger amts, as may be auth. b y stockholders, beginning Jan.
1906 for acquisitions, terminals, coal properties, equipm ent, « c . Uiu
bond's m ay, however, be extended If necessary for not over two years.
Provision m ay be made at the time of Issue of bonds thereunder for the right
to convert Into stock at the pleasure of the holder not over 525,000,000 at
any one time. V. 77, p. 824; V . 78. p. 287; V . 79. p. 1642; V . 82 p . 1380;
V 8 6 p. 1 3 4 3 ; V . 8 8 , p. 1372. See property covered In V . 81,, p. - 11 •
The purchase of the stock of Coxe Bros. & Co. ( $ 2 910,150) n ' of the
Delaware Susquehanna & Schuyklll R R . ($1,500,000) In O ct. 1303 w a8
financed b y an Issue of $19,000,000 coll, trust 4 % bonds, to be ret ted by
$500 000 semi-annual Installments beginning A ug. 1907 and secured b y
deposit of those stocks. The bonds are subject to call as a whole at 102 H
beginning Aug. 1 1912. or In the order of serial numbers. V . 81. p. U 7 o
1 2 4 2 ! 1376; V 782, p. 100; V . 83, p. 702; V . 84, p. 1428; V. 8 8 . p. 452.
G U A R A N T IE S ^— E lm ir a C o r tla n d A Northern R R .— T hisjoad,^w U h U10
Canastota Northern, runs from Elmira to Cauastota and Camden,
140 miles. Stock. $2,000,000, Is owned. V. 62, o .\ 364, 1177.
L e h ig h V a ll e y R a ilw a y C o . o f N e w Y o r k . — Owned Buffalo, N. Y ., to near
Savrc P a ., 175 m. double track, and branches to Ithaca, A uburn, & o., 106
m - In all 281 miles, covered by $15,000,000 m tge. of 1890, but In 1903 and
190,5 consolidated with other sub. cos. and In 1907 absorbed the Lehigh &
r ake Erie; total mileage now Is 501 miles. Stock. $11,-00,000, all owned
b v Lehigh Val. R R . , was In June 1907 authorized to be Increased to $13,o43.000 of which $11,543,000 Issued. Mortgage abstract, V. 51, p. 114; V. 77,
D 147 972; V . 81, p. 784; V . 83. p. 38; V. 84. p. 1366.
„
L e h ig h V a lle y T e r m in a l R a il w a y .— Owned double-track road from South
Plainfield, N. J., to Jersey City, with about 125 acres at Jersey City and a
large water front there, &c. Merged In Aug. 1903 with other sub. cos.
in L V . of N. J ., having a total mileage of 119 m ., Its $12,506,000 ou t
standing stock ($7,927,000 additional In treasury) being all owned b y
Lehigh V al.R R . V .7 7 , p. 072; V .5 3 , p. 640,880; V .8 1 , p .7 8 4 ; V .8 3 . p .7 0 3 .
M o r r i s C a n a l . — Leased for 999 years and dividends guaranteed.
Bonds
a lf owned by Lehigh Valley. See V. 50, p. 137.
,
P e n n s y l v a n i a & N ew Y o r k C a n a l A R a ilr o a d . — Leased for 99 years from
Dec 1 1888 to Lehigh Valley, which has assumed Its debt and owns all Its
stock. The consols Include $4,000,000 of 5 per cents, $3,000,000 of
4s $1,500,000 of 4 H s. V . 62, p. 950.
'L ehigh V a lle y C o a l C o . — See "Coal Property” above.
V . 81, p . 1 ' “ °.
C o n s o lid a te d R ea l E s ta te C o . — See V . 78, y. 1223; V . 79, p. 1271; V . 83,
n. 702. T o June 30 1909 none had been Issued.
,
,
S e n e c a C o u n t y R y . , $500,000 guaranteed bonds; none Issued Juno 30
10The Lehigh & Lake Erie mortgage ($3,000,000) covers 11 miles double
track terminal road at Buffalo opened late in 1907. V . 81, p. | U , v - 8’>;
n 702. The road Is leased for 999 years. V. 84, p. 1248, V . 85, p. 412,
V . 87, p. 817. 818.
E A R N IN G S — 11 m o s .,(1908-09— Gross, $30 211.292; net, $11,190,991
July 1 to May 31.
\1 9 0 7 - 0 8 . . . .G ross, 32,443,535, net, 11.027,82 1
F or 9 mos. ending Mch. 31 1909, net, $8,814, J3 ° ’£
‘l an {
1907-08; other Income, $614,227; tlxed charges. $ 0 ,568,679. add ns and
lm p’ ts, $443,034; bal., sur., $3,417,113. Dividends at 6 % yearly on the
com . stock (4 H % ) and on the pref. stock call for $1,923,038 for the 9 mos.
A N N U A L R E P O R T — Fiscal year ends Juno 30. The report for 1907-08
was given In V . 87, p. 806. 816. 1601. See also editorial p. 780.
RESULTS
O F P R E V IO U S
Y E A R S — O LD B A S IS .
1906-07.
T otal gross earnings-------------------------- 36,068,432
Net earnings............................................ 13,954,179
Other Incom e____________ ________ —
945,138
Net Income coal properties--------------111,250
1905-06.
32,789,857
12-®37.646
oU8,oo<5
318,489
1904-05
31,275.843
12,346,141
453,011
635,548
R A ILW A Y STOCKS AND BONDS.
J u l y , 1900.)
7fS
R A IL W A Y
STO C K S
A N D
R A IL R O A D S
M ties
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f i r s t p a g e o f ta b les
of
R oad
Lehigh Valley— (C o n c lu d e d )
Lehigh Val Term 1st M g guar p & I en d — Ce.c* Ar
31
Easton & A m b o y 1st M Easton to Perth A m b oy gu
60
Easton & Nor 1st M gold guar by Leh V a l.G P .c* A r
12
M iddlesex Valley first mtge 5600,000 gold ------ Ce.c*
22
P e n n A N Y C a n A R R — Cons gu (text)p A l(en d )-G P .r
Elmira Cortland & North first pref mtge g o ld --C e .c
115
First m ortgage gold guaranteed p & 1 (end)___Ce
119
Morris Canal stock 4 % guaranteed 099 years.
Prefcrred stock 10% guaranteed 999 years.
Lehigh Val Coal Co— Snow Shoe 1st M not g u .G P .r
L V Coal Co 1st M $12,000,000 g s l not d r a w n .c ’ Ar
do
Interest reduced________________________
Delano L ’ d 1st M gold guar s f $30,000 yearly___GP
W yom ing V alley Coal first m ortgage_______________
do
do
consolidated m ortgage_____
Consol Real Estate first mtge 52,600,000 guar.U sm
Lexington & East— 1st M g e x t In 1901 red 1 0 2 ..C e.c*
General m ortgage gold _________________________ N.r
Lexington Union Station— Preferred stock (see t e x t ).
Lime R ock— Consolidated refunding mortgage g o l d ..
Litchfield & Madison— First mtge $1,000,000 g _____
Little Falls & Dolgeville— First mtge $250,000 g o l d ..
Little Aliami— Stock com guar 8 % 99 yrs P C A St L
Special guaranteed betterm ent stock _______________
Renewal m ortgage_________________________________c
84
Little Rock & Hot Sp W est— 1st M g gu p & 1 end.SS t
53
Little Schuylkill Nav. RR & Coal— Stock (rental guar)
32
Long Island— Second (now first) m ortgage_________ c*
155
Consolidated mortgage (gold) ($3,610,000 are 5s) .Ce
156
General mortgage gold ...........................................Ce.c*
163
L ong Island R R m tgeon ferry for $2,750,000 g.Ce c*
Stewart Line mortgage o f 1932 for $500,000 gold .C e
"l8
Debenture ($1,500,000) gold not subject to call____
New York & Flushing first mortgage assumed .. C e
" z
B rooklyn A Montauk 1st M ($250,000 arc 6s) .C e.c*
76
Second M g assum Bus Sta to Eastp A b rs ..C c.c *
76
Long Island City A Flushing first mtge assu m ed ..c*
12
Consolidated mortgage gold assumed_______Ce.c*
19
a Tn hands of nubile: total Issued show " In left-hand eolum n
D a te
of
B onds
1891
1880
1895
1892
1888
1884
1884
1884
1892
1892
1891
1006
1895
1895
1904
1903
1882
1899
1878
1881
1888
1802
1892
1894
1880
1881
1888
1881
1887
S iz e , or
Par
V a tu e
R a te
%
W h en
P a y a b le
OR D I V I D E N D S
W h ere P a y a b le, a n d by
W hom
B on d s— P r in c i
p a l, W h e n D u e
S to ck s— L a st
D iv id e n d
$1,000 $10,000,000
A O JPM organA C o.N Y A Phil Oct 1 1941
A
5 g
1,000
6,000,000
5
M A N Office, 228 So 3d St, Phil May 1 1920
500 &c
51,000
do
do
N ov 1 1035
4K g M A N
1,000
M A N Philadelphia
211,000
5 g
N ov 1 1942
1,000
8.500.000 4, 4 H . 5 A A O Lehigh Valley R R , Phlla A pr 11939
1.000
750.000
A A ()
6 g
do
do
A p r 1 1914
1,000
1.250.000
A A O
do
do
A pr 1 1914
5 g
706,700
4
F A A Office, 228 S 3d St, Phlla Aug
100
1909 2%
10
903,600
Aug
F A A
do
do
100
1909 5%
342,500
5
500
Jan 1 1910
J A J Philadelphia
1,000 10,114,000
5g
J A J JP M organ A C o.N Y A Phil Jan 1 1933
1,000
do
do
1.400.000
Jan 1 1933
4 g
J A J
1.082.000
Jan 1 1932
J A J Philadelphia
1,000
5 g
5
8,000
May 1 1912
M & N
J
& J
6
200.000
July 1 1917
1,000 In treasury
4
Feb 1 1956
F A A
1,000
850.000
5 g
A j J K T od A Co, New York July 1 1911
J
,000 Ac
1.500.000 See text F A A See text
Feb 1 1935
4
100
348.000
July 1 1909 2%
J A J O ffice, Lexington, K y .
1,000
400.000
July 1 1929
4 g
J A J Portland, Me
N ov 11934
1,000
700.000
5g
M A N Central Tr. C o., N. Y .
100 Ac
250.000
3 g
J A J Amer Exch Nat Bk, N Y J ly 'l 1932
4,943,100
50
8 2-5 Q - —M 10 Office, Fosdlck Bldg, Cln JunelO ’09 2 1-5
4
O-- M 10
50
3,516,400
June 10 1909 1
1,000
1.500.000
5
M A N Bank o f Am erica, N Y Nov 2 1912
1,000
1.140.000
A J St Louis and Philadelphia July 1 1939
4 g
J
50
2,487,950
J A J O ffice, 410 W alnut,Phlla July 15 19092H
5g
100 Ac
268,703
7
F A A U S Mtge A Trust Co,N Y A ug 1 1918
1,090
4.731.000 4 A 5 g
do
d oA L on July 1 1931
Q— I
June 1 1938
1,000
3.000.
0004 g
J
A 1)
do
do
1,000
Mch 1 1922
1.494.000
4H g M A S
do
do
1,000
June 1 1932
332.000
4 g
J
A I)
do
do
1,000 a l , 135,000
A D
do
doA L on June 1 1934
5 g
J
1,000
6
125.000
Mch 1 1920
M A S
do
do
1,000
1.000.
Mch 11911
5000
A 6 g M A S
do
do
1,000
June 1 1938
600.000
5 g
J
A D
do
do
1,000
6
600,000
May 1 1911
M A N
do
do
1,000
650.000
May 1 1937
M A N
5 g
do
do
tinder unified mortgage
1907-08.
R e v e n u e fr o m O p e r a tio n —
$
Coal freight revenue_________________ 16,175,280
Merchandise freight revenue_________ 14,011,302
Passenger revenue__________________
4,159,890
1,163,682
Mall, express, A c___________________
1906-07.
In c. ( + ) or
$
D ec . (— ) .
15,270,214
+ 905,066
14,864,262
— 852,960
4.326,119
— 166,228
1.060,852
+ 102,830
Total operating revenue___________ 35,510,154
Operating expenses_______ ________ 22,203,705
T a x e s ------------------------------------------------1,122.867
35,521.447
21,967,331
885.909
— 11,293
+ 236.374
+ 236,958
Operating Incom e-------- --------------------Other Incom e________________________
12.183.582
1,521,018
12,668,207
1,614,991
— 484,625
— 93,973
Total Incom e______________________ 13,704,600
Interest on bonds, A c ________________
3.745,128
Rentals and guaranties______________ 2,316,473
272,425
Miscellaneous deductions------------------Additions and betterm ents---------------- 1,775,264
14.283,198
3,665,503
2,200,473
323,679
2,068,590
— 578,598
+ 79,625
+ 116,000
— 51,254
— 293,326
Total deductions from Incom e------
8,109,290
8,258,245
— 148,955
Net Incom e_______________________
Lehigh Valley Coal Co. net In co m e ..
5,595,310
388,606
6,024,953
111,250
— 429,643
+ 277,356
T otal net Incom e__________________
Dividends on preferred stock (1 0 % )_
Dividends on com m on stock (7 % ) —
5,983,916
10,630
2,420,088
6,136,204
10,630
2,016,740
— 152,288
+403,348
3,553,198
Balance, surplus__________________
4,108,834
— 555,636
P res., E. B . Thom as, 143 Liberty S t., N. Y .; Asst, to Pres., L. D. Sm ith1st V .-P ., J. A. Aliddleton; Gen. Mgr., J. A. McGuire: Treas., J. M. Baxter:
S ec., D. G. Baird, 228 So. 3d S t., Philadelphia: Executive Committee:
Chairman, Eben B. Thom as: Geo. F. Baker, E. T . Stotesbury, Charles
Steele, P . A. B. W ldener and Geo. F. Baer.
Directors— Edward T . Stotesbury, S. P. W olverton, Alfred C. Harrison,
Geo. II. M cFadden, Charles Steele, Irving A . Stearns, Abram Nesbitt
P. A. B . W ldener, Geo. F. Baker. E. B. Smith, Geo. F. Baer and R obt C
L lppln cott.— (V . 87, p. 1601, 1605; V. 8 8 , p. 231, 452, 1372, 1437.)
LEXINGTON & EASTERN RY.— Owns from Lexington. K y ., to Jackson
K y ., about 92 miles. Extension from Jackson to Hazard, K y ., 33 miles
projected . S tock, $500,000; par, $100. Reorganized without fore
closure In 1901 per plan V . 73. p. 663.
B O N D S .— The 1st m tge. 5s were extended at same rate of lnt. to July 1
1911, the com pany having the right to call and redeem all or any of them at
102 and lnt. All lnt. on the gen. m tge. bonds was waived to Aug. 1 1901
lnt. 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 maturity
De
ferred debentures will be Issued from time to time for bal. of the lnt. not paid
In cash on the gen. m tge. bonds accruing after A ug. 1 1901, such debentures
($375,000 eventually) being payable without lnt. whenever the com pany
shall decide (either In cash or gen. m tge. bonds), but Immediately if a
dividend Is declared on stock.
E A R N IN G S .— 11 m os., 1 1908-09--------- Gross, $376,260: net, $67 629
July 1 to May 31.
J 1907-08--------- Gross,
462,868: net, 139]973
Year ending June 30 1908, gross, $497,933; net, $148,972; other Income
$1,722; charges, $141,712; bal., sur., $8,982. Pres., Arthur Cary. Lexing
ton. K y .— (V . 76, p. 542.)
*
LEXINGTON UNION STATION CO.— Owns passenger station a
Lexington, K y ., opened July 1907.
Common stock, $15,000, owned equally b y Loulsv. A N ashv., Ches. &
Ohio and Lexington & Eastern. There will be Issued $500,000 of the 4 %
cumulative (non-voting) preferred stock, secured b y m ort.,a n d rentals paid
b y above-nam ed roads on basis o f passenger cars. Pres., W . A . McDowell;
Secretary and Treasurer, A . Mitchell Jr.
LIME ROCK RR.— Owns road In and around R ockland, Me., 1 1 m .;
trackage, 1 m .; total, 1 2 m. Stock, $450,000; controlled b y the RocklandR ockp ort Lime Co. of Maine. V . 82, p. 1380. D lv. In 1905-06, 5 % ; 1906
07. 5 % , of which 3 % from accumulated surplus. Year ending June 30
1908, gross, 572,354; net, $28,256; other Inc., $3,945; lnt. and taxes, $20 115: dlv. (2 H % ). $11,250; bal., sur., $836. Office, R ockland .— (V . 82.
p. 1380.)
LITCHFIELD & AlADISON RY.— Owns Litchfield Jet. to Madison, 111.,
44 m .; trackage, 1 m .; total, 45 m. S tock, com m on, $500,000; pref., 4 %
non -cum ., $500,000; par of shares, $100. Form erly controlled by Chic.
Peoria A St. Louis. Car trusts June 30 1908, $59,780. For year ending
June 30 1908, gross, $271,541: net. $110,350: lnt., taxes, & c., 556,603bal., su r., $53,747. Pres., James Duncan. A lton, 111.— (V . 79, p. 2456.)
LITTLE FALLS & DOLGEVILLE RR.— Owns Little Falls. N. Y ., to
Dolgevllle, 10 miles. Operates under agreement Dolgevllle & Salisbury
R R ., extending from Dolgevllle to mine of Salisbury Steel A Iron Co.
S tock, $250,000, of which the New Y ork Central & Hudson River In July
1906 acquired a m ajority. Bonds, see table. For year ending Dec. 3 1
1908, gross, $60,757; net, $19,330; other Income, $547; charges, $9,031.
Pres., W . H. Newman; S ec., D . W . Pardee.— (V . 83, p. 272.)
LITTLE KANAWHA RR.— Parkersburg, W . V a ., to Creston, 50 miles.
Stock, $3,000,000 authorized; Issued, $509,500. Owned b y the Pittsburgh
A Lake Erie, Pennsylvania and Baltimore & Ohio, the last named operating
the road from May 1 1908. V . 86, p. 981; V . 82, p. 628; V . 86, p. 981.
LITTLE MIAMI RR.— (.See M a p s P e n n s y l v a n i a R R . ) — Owns Cincinnati
O ., to Springfield, O ., 84 m .; branch, Xenia. O ., to Dayton, O ., 15 m.; D ay
ton, O ., to Ind. State line, 38 m .; leases. Columbus A Xenia R R ., Xenia, O .,
to Columbus, O ., 55 m .; CIn. St. Con. R R ., 2 m .; Richm ond A Miami R R .,
Idtjlana State Line to R ichm ond, 4 m .; total, 195 miles.
, k E A S E .— On Dec. 1 1869 leased to Pittsburgh Cincinnati A St. Louis
(now Pittsburgh Cincinnati Chicago A St. Louis) for 99 years renewable for
ever. The Penn. R R . Co. Is a party to the contract and guarantees Its
IN T E R E S T
A m oun t
O u ts ta n d in g
[VOL. LXX X IX .
BO ND S.
althful execution. Rental Is 8 % on $4,943,100 com . stock, 4 % on b etter
ment stock, and lnt. on debt. The stockholders voted Jan 29 1907 to
m odify lease and Increase stock from $5,000,000 to $10,000,000, the a d d i
tional stock to be Issued as a special 4 % betterm ent stock. V . 84, p . 51,
815; V . 86, p. 857.
Lessee’s report shows results to lessee: In 1900, profit, $65,989; 1901, $67,
151; In 1902, loss, $92,069; In 1903, loss. $241,593; In 1904, loss, $133,746;
In 1905, loss, 5167,692; In 1906, loss, $185,303; In 1907, loss, $54,477;
In 1908, loss, $142,946. Stock authorized, 510,000,000. Beginning Dec.
1899 1-5% extra paid on com m on stock each Dec. and June from the surplus
Invested fund, making dividend 8 2-5% yearly.— (V. 86, p. 857.)
LITTLE ROCK & HOT SPRINGS WESTERN RR — (S e e M a p M i s s o u r i
P a c i f i c . ) — Owns H ot Springs to Junction, Ark , 53 miles, of which Benton
to Little R ock , 23 m .. Is leased to Choc. Oklahoma A Gulf R R .
V. 68,
p. 85; V . 69, p. 283; V . 73. p. 722. Stock, $1,140,000, all owned b y St.
Louis Iron Mountain A Southern R y. (Missouri Pacific system ), which guar,
the bonds, principal and Interest, b y endorsement. V . 78, p. 583. D ivi
dend, 3 H % . paid In 1905-06. Year ending June 30 1908, gross, $187,487;
net. $47,586; other Income, $26,077; fixed charges, $66,134; b al., sur.,
$7,529. Pres., VV. C. Fordyce — (V . 78, p. 583.)
LITTLE SCHUYLKILL NAVIGATION RR. & COAL.— Owns from Port
Clinton to Tamanend and Reevesdale, 31.48 miles; 2d track, 26.49 m .; total,
91.31 miles. Re-leased on Dec. 1 1896 to Phlla. A Read. R y. for 999 years
and rental reduced from 7% on stock to 5% gold from Jan. 1 1897. Divi
dends: In 1898, 5 M % : 1899, 5 H % ; 1900. 5; 1901, 5 'A ; 1902, 5 )J : 1903, 5;
1904, 5; 1903, 5 H ; 1906, 5; 1907, 5*4; 1908, 5*4; 1909, Jan ., 244 % ; July,
2 * 4 % . Lessee pays taxes and organization e x p .— (V . 73. p. 554.)
LONG ISLAND RR.— Operates the steam surface roads of Long Island.
O w n s—
M il e s .)
L e a s e s — (* W hich see.)
M ile s ,
Long Island C ity to G r e e n p o rt... 95 |N. Y . A R ockaw ay Beach R y * - - 12
5
Long Island City to M ontauk------1151Jamaica A S o .S h o re (V .7 8 ,p .l0 2 )
Sundry b ra n ch e s............................. 1 0 6 N. Y. B’klyn A Man. B e a c h * - - - 18
T otal owned (V . 77, p. 2 0 9 8 )-.3 1 6
T otal Deo. 31 1908........................391
Operated electrically____________ 45
Nassau Electric R R --------------------- 1 0 Double track_____________________ 127
North Shore Branch R R „ ............30
S T O C K .— $12,000,000. par, $50; of which Penn. R R . owns $6,797,900.
D IV ID ’ S .— 11882 1883 to 1890 1891 1892 1893 1894 1895 1896 None
P e r c e n t ......... ! I
4 yearly
444
5
5 4 4 4
4
4
since
B O N D S.— The refunding 4s of 1903 ($45,000,000 authorized Issue) are se
cured b y a lien on the entire road, subject to the $22,592,000 outstanding old
bonds, to retire which an equal am ount Is reserved; remainder, $22,408.
000, guar, as to prln. and lnt. by the Penn. R R ., were sold, the proceeds to
be used for various Improvements and additions In connection with the
Pennsylvania tunnels to and through New York City, principally for addi
tional terminal facilities at Bay Ridge and L ong Island City and for a d ouble
track connection with the New Haven road for additional freight and pas
senger terminals, tracks, equipm ent, and to retire old b on d s. V . 78. p.
583, 1549; V. 79. p. 2796; V . 80, p. 1111; V . 81, p. 211; V . 82, p. 868.
Due Pennsylvania R R . Dec. 31 1908 for advances, $6,144,249.
Pennsylvania Co. Dec. 31 1908 owned $2,600,000 4 % equip, ctfs.
The u n i f ie d m ortg a g e Is limited to the amount now outstanding. Bonds
are subject to call at 110 In whole or In part on any Interest d a y . V . 68,
p. 618. Mtges. on real estate, $1,969,917. V . 76, p. 266; V . 85, p. 160.
G U A R A N T IE S .— In addition to guaranteed bonus In table a bove, guar
antees 5% on $650,000 New York Brooklyn A Manhattan Beach pref. stock
as part rental; also 4 44% on $50,000 P. P. A So. Br. stock and 4 44% on
$82,500 of the New York A Coney Island stock.
The shareholders voted March 14 1906 to guarantee, principal and Inter
est, an authorized Issue of $10,000,000 4 44% 40-year collat. trust bonds of
the Long Island Consolidated Electrical Companies, a holding com pany, all
of whose stock Is owned, for the trolley lines owned and controlled. The
present Issue will provide the cost of acquired and constructed lines, about
$2,140,000, and about $500,000 was expected to be Issued for new lines and
extensions then proposed. See V . 82, p. 100, 864; V . 84, p. 865; V . 86, p.
1157. No bonds sold to Dec. 31 1908.
IM P O R T A N T C O N N EC TIO N S.— The city ’s extension of Its Rapid Tran
sit tunnel from Manhattan under the East R iver and thence to Flatbush
A ve. Station, Brooklyn, was com pleted about May 1 1908. V. 86, p . 1 0 8 .
The Penn. R R . Is also building an underground tunnel (electric railroad)
for passenger service from Jersey C ity under the Hudson River to a central
passenger station at 33d St. and 7th to 10th avenues, and thenco under the
East R iver to a connection with Long Island R R ., and thus with N. Y .
N. H . A H . R R to be com pleted In 1910; see V . 74, p. 830; V. 75, p. 1203;
V. 84, p. 931. As to Improvements, see V . 80, p. 599, 997; V . 81, p. 3 (;
V . 84. d . 1552; V . 87. p. 813.
E A R N IN G S .— 11 m os., 1 1908-09____Gross, $7,436,601; net, $1,654,451
July 1 to May 31.
J1907-08____Gross, 9,047,307: net, 1,844,116
R E P O R T .— R eport for calendar year 1908 was In V . 88, p. 997.
1908.
1907.
1006.
Gross earnings_______________________ $9,818,545 $10,130,408 $9,595,596
Operating expenses__________________
7,267,235
8,520,585
7,481,162
Net ea rn in g s______________________ $2,551,310
T otal n e t .....................
$2,768,178
Fixed rentals of leased roads_________
542,747
• Interest on bonds.....................
1,803,330
ln t. on mortgages, ground rents, A c .
152,289
T a x e s ......... ................................................
393,312
Miscellaneous_________
152,588
$1,603,823
$1,935,892
455.198
1,803,330
67,721
345.198
123,294
$2,114,434
$2,520,941
417,951
1,772,465
41,442
260,563
56,879
B ala n ce................................................d e f.$276,088 d e f.$858,829 def.S.lS 350
*Thls Item does not Include all the Interest, a "p ro p e r proportion’ ’ on
securities Issued for Improvements extending through several years, from
which no additional revenue can be derived until com pletion, having been
charged to cost of construction. See V . 84, p. 865.
Pres., Ralph Peters; Treas., Henry Tatnall. Broad St. Station, Phlla —
V 85, p. 1210; V. 8 6 , p. 981. 1153, 1159: V. 87, p. 1238; V. 8 8 , p. 9 9 7 .)
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STO C K S
A N D
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
M ile s
of
R oad
D a te
of
B on ds
S iz e , or
Par
V a lu e
A m oun t
O u ts ta n d in g
R a te
%
$1,000
$1,000
1,000
500 &c
a$100,000
a315,000
5,660,000
22,408,000
5
5
4 g
4 g
30j 1892
1,000
L I R R No Sh Br cons M $1,425,000 gu p & L C c.c
19 1885
1.000
N Y B & Man V 1st cons M $1,720,000 gold guar.Ce
1887
1,000
N Y & R ock Beach 1st M $984,000 guar p & L --C c
10 ’8 6 -’91
1,000
P P & C I 1st and 2d ($96,000 seconds) guar p & 1 ..
35 1906
1.000
Lorain & W est V irg in ia — 1st M $2,000,000 g old . _c* &r
100
Louisiana & Arkansas— Stock $7,000,000 authorlzed218 1902
1,000
Flrst mortgage $7,000,000 gold (text) — - - - S . c &'
35 1895
1,000
Louisiana & North W est R R — Prior lien, g old 115 1905
1,000
First m ortgage $10,000,000 gold ----------------- M St.c
342 1903
1,000
I ouisiana R y & Nav— I* Irst M gold (see text) —
45 1897
500
Louisiana S b u th e r n -ls t M g red at 105 since 'OS
106 1881
1.000
Louisiana W estern— First mortgage gold ..............Ce.c*
100
Louisville Bridge Co— Stock ----------------- --------------------100
Louisville Hend & St Louis— Comm on stk $2,0(
100
Preferred stock, 5% non-cum , $ 2,000,000.182 1896
500
First mtge $2,500,000 g o ld -------------------------------Mo
1895
1,000
Louisville & Jeff Bridge— $5,000,000 g gu p & l en d .c*
100
Louisville & Nashville— Stock $60,000,000---------- - - - 155 1879
1,600
E H & N 1st M Hend to Nash g drawn at 1 1 0 .-C e.c*
803 1880
1,000
Louisville & Nashv gen M gold drawn at 110--C e.c*
176 1881
1,000
L C & Lex gen mtge gold (V 63, p 1010)-------- Mo.c*
192 1880
1,000
L & N bonds S & N Ala R R 2d M as coll gold -U n .c*
45 1880
1,000
Pensacola Dlv 1st M gold (drawn at 105)------ F.c*
141 1880
1,000
New Orl & Mol) Dlv 1st M N O to Mobile g -.F .c *
141 1880
1,000
Second mortgage gold ------------------------------- - - - c .
208 1881
1,000
Southeastern & St Louis Dlv first mortgage gold-c*
208 1881
1,000
Second M gold East St Louis to Evansv & br c '
192 1887
1,000
First M (50-year 5s) $15,000 per mile g o ld ---U s .c ]
1888
1,000
First mtge collateral trust ($7,000,000) g o l d .- - F .c
^
C AAA AAA rrr\ IrI f A A* A*1 Text
rr.-iii . __ ____ __
1890 1.000 &c
1,000
1891
1,000
179 1895
$1,000
16C 1881
colum n; bala nee unde
a l , 262,000
a l , 601,000
a883,000
436,000
2,000,000
3,750.000
4,622,000
100,000
2,001,000
8.131,000
250,000
2,240,000
1,500,000
2,000,000
2,000,000
2,500,000
4.500,000
60.000,000
1,375,000
C6 ,191,000
3,258,000
d l, 777,000
C338.000
5.000,000
1.000,000
3.500,000
S3,000,000
f 1,749.000
£4.705,000
b57,874,000
617,000
4,000,000
h$ 2023.000
r unified mo
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
on f ir s t p a g e o f ta b les
Long Island— (Concl.)— N Y B ay Exten 1st M assum’d
Montauk Extension $600,000 first m ortgage assum
Unified mortgage gold call at 110-------- .-.U s m .c & r
R efund mtge $45,000,000 gold guar p & L E q.c*& r
L e a s e d a n d C o n tr o l le d L i n e s , P r i n c i p a l o r I n t e r e s t
6
21
316
316
1893
1895
1899
1903
G u a r a n te e d .
1
LORAIN & ASHLAND RR.— Projected from Lorain, O., south through
W ellington and Ashland to Black Fork River and thence to the Ohio R iver,
passing through the Hocking coal fields. Of this, 25 miles, from Lorain to
W ellington, was about com pleted In Dec. 1907. V . 85, p. 1460; V . 82, p.
628. Stock and bonds authorized, $3,000,000 each. Controlled by
Joseph Ram sey Jr. and associates.— (V. 85, p. 1462.)
LORAIN & WEST VIRGINIA RR.— W ellington to Lorain, O., 30 miles,
with branches, 5 m. Stock, $2,000,000, all outstanding; par $100. F or
merly controlled by W heeling & Lake Erie, but control relinquished In
Oct 1908, guaranty of bonds being canceled.
Operated In Jan. 1909 by
receiver of W h & L. E. under an operating contract. Bonds, $2,000,000
authorized. Cittzens’ Savings & Trust Co. of Cleveland, trustee. Pres.,
H . W . Seaman; Sec. and Treas., J. R . N utt.— (V . 87, p. 1160.)
LOUISIANA & ARKANSAS RY.— Owns from H ope, A rk., to T ioga,
La 187 8 miles; extension from Packton to Jena, 29.86 miles; trackage,
Tioga to Alexandria, La., 8.18 miles; Tioga to Plnevllle, L a., 5 miles, gives
second entrance to Alexandria; total. 230.84 miles. Rock Island Co. uses
36 miles, Packton, L a., to Plnevllle, La., under trackage contract. F orty
acres for terminal purposes secured In Shreveport and a branch line of 25
miles from Mlnden to Shreveport nearly com pleted.
S T O C K .— Stock (authorized, $7,000,000; outstanding, $3,750,000;
shares par $100), of which $3,745,000 Is deposited with the Standard Trust
Co of N ew Y ork . V oting trustees 10 years; William Buchanan, Edward E.
P orter, BenJ. F. Yoakum . H arvey E. Fisk and Charles L. Pack.
D IV ID E N D .— 1 14% paid semi-annually since March 1906.
B O N D S.— The unissued first 5s (total limited to $7,000,000) are reserved
for betterm ents, equipment and extensions, of which $1,000,000 reserved
for bridges across Black and Red rivers, and the balance limited to $20,000
per mile of com pleted railroad. The entire am ount outstanding, but no
part, Is subject to redem ption at 110 and Interest on any Interest date.
Beginning with Sept. 1907 a sinking fund of $55,000 per annum to buy
bonds, If possible, at 110 and interest or under; otherwise to be Invested.
Bonds so purchased are kept alive In the sinking fund.
E A R N IN G S. — 11 m os., 11908-09------ Gross, $1,093,989; net, $344,650
Julv 1 to May 31
(1907-08____Gross,
1,046,918; net, 322,449
R E P O R T .— For year ending June 30 1908, In V. 87, p. 808.
Y ear
M ile s
G ro s s .
N et.
O th . I n c . C h g s & c . D iv id e n d s . B a la n c e .
1907-08 226 $1,144 521 $338,878 $43,636 $197,965
$112,500 $72,049
1906-07::226
1,216.837 368.078 32.365 174 959
112 500 112,984
Pres., W m . Buchanan. Texarkana, A rk .— (V . 87. p. 740,808.)
LOUISIANA & NORTH WEST RR.— Owns Magnolia. A rk., to Natchi
toches. L a., 114.7 miles; trackage, Magnolia to McNeil, 6.4 miles.
Stock, $10,000,000 authorized, of which $2,300,000 outstanding; par,
$100. Car trusts Sept. 1908, $6,000. Of 1st os of 190o ($10,000,000 au
thorized Issue), $150,000 Is reserved to retire the old bonds and $425,000
for Im provem ents, equipm ent. &c. V . 82, p. 628; V . 85, p. 1462. Pres,
and Treas . Geo. W . Hunter, St. Louis; V .-P ., John Jay Nelson, Magnolia,
A rk.; Sec., John A . Richardson, H om er, L a .— (V . 85, p. 1462.)
LOUISIANA RAILWAY & NAVIGATION CO.— Owns New Orleans to
Shreveport, L a., 305.6 m .; Colfax to W infield, 28 m .; Alexandria to Jena,
j u m . Stock authorized, $12,000,000; outstanding, June 30 1908, $8,
131,000; par, $100. First mtge. bonds (see table above) are limited to
$17,500,000 total Issue and $23,000 per mile; $300,000 has also been issued
fo r a bridge over the R ed R iver at Alexandria; $4,000,000 is reserved for
New Orleans terminals. There are also $2,414,000 2d 50-yr. 4M s due 1957
(authorized issue $10,000,000.) Sec official statem ent, V . 77, p. 36; V . 77,
P'E A R N IN G S .— 11 m os.,f 1908-09..............Gross, $1,022,452; net, $80,323
July 1 to Mav 31.
11907-08_______ Gross,
920,014; net, 22,584
Pres., W m . Edenborn, Hibernia B ldg., New Orleans; Sec. and A ud ., H.
B . Helm; 'Treas., Clarence Ellerbe, Shreveport, L a.— (V. 84, p. 390, 450.)
LOUISIANA SOUTHERN RY.— Sec this section for July 1905.
LOUISIANA WESTERN RR.— ( S e e M a p o f S o u th e r n P a c i f i c .) —
Owns
from Lafayette, La., to Sabine R iver, 105 miles; Midland to Eunice, 24 m .;
Midland to Abbeville, 35 m .; Mallard Jet. to Lake Arthur, 34 m .; leases
Lake Charles & Northern R R ., Lake Charles to De R lddcr, L a.. 50 miles,
opened Oct. 1908; total, 248 miles. Operated Independently. Southern
Pacific owns all the $3,360,000 stock . Dividend on stock In 1905-06
and 1906-07. 10% , and In 1907-08, 8 5 % . In year 1907-08, gross, $2,105,
023; n etin com e, $953,102; surplus over chgcs., $694,753.— (V. 74, p. 268.)
LOUISVILLE & ATLANTIC RR.— Sold to Loulsv. & N ashv.in June
1909.— (V . 89, p. 42.)
LOUISVILLE BRIDGE CO— Owns bridge 5,294 feet long over Ohio R lv.
at Louisville, K y .. and about 2 miles track in Louisville. Used by P. C. C.
& St. L. R y ., Loulsv. & Nashv., &c. Surp. earns, revert to roads using b r’g.
STOCK Is $1,500,000; Penn. Co. owned Jan. 1 1909, $900,300. Dlvs.
since 1902: 1903, 13% (V. 79, p. 2747; V . 78, p. 102); 1904, 4 % ; 1905, 6 % ;
1906, 7 % ; 1907, 8 % ; 1908, 1 6% . For year ending Dec. 31 1908,Kgross,
$249,654: net, $103,944; other Income, $191,460; charges, $49,994;. dlvs.
(1 6 % ), $240,000; bal., sur., $5,410.— (V. 86, p. 285.)
LOUISVILLE HENDERSON & ST. LOUIS RY.— R O A D .— Louisville
to Henderson, K y .. 144 miles (lncl. 6 m. trackage); Irvington to Fordsvllle,
K y ., 44 miles; L. & N. trackage, Henderson, Ivy., to Evansville, In d ., 12
m .; total, 200 m. Lou. & Nash, in 1904-05 acquired $776,081 pref. and
$1,631,385 com . stock. V . 81, p. 1100.
E A R N IN G S .— 11 m os., 11908-09............Gross, $939,522; net, $267,401
July 1 to May 31.
J1907-08______ Gross, 916,686;_ net, 206,622
R E P O R T for year ending June 30 1907 In V . 85, p . 1575. In 1907-08,
gross, $992,652; net Income, $204,214; Im provem ents, $12,669; Int,, taxes,
& c., $241,597; bal., d ef., $50,053.— (V . 85, p. 722, 1575.)
LOUISVILLE & JEFFERSONVILLE BRIDGE CO.— One-half mile long
and the approaches one mile; opened Jan. 1 1896. Also owns about 40 acres
of land In Louisville and 100 acres In Jeffersonville. Stock, $1,425,000;
m tge. Is for $5,000,000 (trustee, U. S. Trust Co. of N. Y . and Unlon,/rrust
Co of Indianapolis); bonds for $ 5 0 0 . 0 0 0 |iare reserved for future co n
struction, & c., the bonds are guaranteed b y the Ches. & Ohio and Clevc. C.
C. & St. L. roads. In whose Interests the entire stock Is owned. See V . 61,
[VOL. LXX X IX .
BONDS.
W h en
P a y a b le
J
J
M
M
&
&
&
&
6g
3 g
5 g
4 g
5 g
4H
6 g
rtgage.
&
Sc
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
c. d,
S tock s— L a st
D iv i d e n d
j U S Mtge & Trust Co,N Y Jan 1 1943
Jan 1 1945
do
do
j
Mch 1 1949
do
do
s Am Exch Nat B k, N Y Mch 11949
O—J
A & o
M & s
Various
& D
J
3 In 1908 Seml-an
M & S
5 g
J & J
5g
A & O
& J
4V i g J
M & s
5g
& J
J
6 g
See text
J
M
F
J
J
M
A
M
J
J
M
M
M
M
J
M
g M
F
b.
B on d s— P rtn ci-
s
5g
5 g
5 g
4 Yx
5g
4 g
See text
Gg
6
4H g
Gg
Gg
W h ere P a y a b le, and by
W hom
s
U S Mtge & Trust Co,N Y
do
do
do
do
do
do
City S & T Co, Clev & NY
Checks mailed
Fisk & R obinson, N Y
B oody, McL & Co, N Y
Treas Office, St Louis
Farmers’ Trust Co, N Y
R W lntlirop & Co, N Y
S P Co. 120 B’ w ay, N Y
Louisville, K y
J Bk of A m er, N Y & Louis
J P Morgan & Co, N Y
A 71 B roadw ay, New York
do
do
D
do
do
D
do
do
N
do
do
O
do
do
s
do
do
J
do
do
J
do
do
s
do
do
s
do
do
N
do
do
N
do
do
J
S St Louis Tr Co, St Louis
S 71 B roadway, New York
A 71 Broadway. New York
e, f, g, see foot-note on
Oct 1 1932
Oct 1 1935
Sept 1 1927
1926-1931
June 1 1956
Mch 15 1909 l y i
Sept 1 1927
Jan 1 1945
A pr 11935
July 1 1953
Mch 1 1950
July 1 1921
See text
July 1946
Mch 1 1945
Aug 10 ’09 3
Dec 1 1919
June 1 1930
Nov 1 1931
A pr 1 1910
Mch 1 1920
Jan 1 1930
Jan 1 1930
Mch 1 1921
Mch 1 1980
May 1 1937
N ov 1 1931
•luly 1 1940
Mch 1 1916
Sept 1 1945
Aug 1 1921
next pige.
p. 559. Of the $4,500,000 Issued June 30 1908, $1,000,000 was In the
treasury. $500,000 being deposited as security for loans.— (V . 62, p. 84.)
LO U ISVILLE & N ASH VILLE R R .— {S e e M a p . ) — R O A D '.— Operates
main line from Cincinnati, O ., to New Orleans, L a.. 921 miles; with branches
to St. Louis, M o., Memphis, T enn ., & c., 3,444 miles, making total system
proper, June 30 1908, 4,365 miles. The system Includes;
R ep o rte d s e p a r a t e ly —
M ile s .
L i n e s o w n e d a b s o lu te ly o r th rou g h
♦Nashville Chatt. & S t. L o u is ...9 2 5
c a p ita l stock .—
M ile s .
Louisville to Nashville..................... 181 ♦Georgia Railroad system ------------ 571
Sundry other Hues....... ................. 3,176 ♦Louis. H end. & St. L o u i s ..-------182
♦Chic. Ind. & Louisville-------------- 617
L i n e s U 'ased, & c .—
♦South. & N orth. Ala. R R ............ 193 Other lines------------------------------ - - - 48
Other lines------------------------------------ 593 Owned but leased to other co s — 21
Operated for other com panies___222 Do. Paducah & Mem. D lv ---------- 248
♦Sec this com pany.
T otal of all July 1 1908............6,970
T otal system proper-------------- 4,305
In June 1909 acquired all the securities of the Louisville & A tlantic,
Versailles, K y ., to Beattyville Jet., 101 miles, and a 6-mile coal branch. V .
89, p. 42.
C o n tr o l b y A t la n t ic C o a st L i n e . — Late In 1902 the A tlantic Coast Line R R .
acquired $30,600,000 of the $60,000,000 stock, but the roads are operated
independently. V . 74, p. 830. 1038: V . 75. p. 733, 1399.
D IV ID E N D S — ’ 91 ’ 92 ’ 93 ’ 94-’ 98 ’ 99 ’ 00 ’ 01-’ 04 ’ 05-’ 07
1908. 1909.
P e rc e n t_______ 5
4K 4
None Z M 4 5 yrly. 6 yrly.
Below .
5H
In Feb. 1908 3% paid In cash and 1% In Louisville P roperty Co. stock:
in A u g., 2 lA % cash. V. 86, p. 229, 421. In 1909, F eb ., 2 M % ; A u g ., 3 % .
B O N D S .— The E v a n s v . H e a d e r . & N a s h v . bonds are drawn at 110 b y lot
annually In O ct. for paym ent Dec. 1 In amounts Increasing each five years
until $150,000 per year Is finally reached; In 1908, $75,000.
The P e n s a c o l a D iv i s io n bonds are subject to a drawing sinking fund
$10,000 In 1907 and Increasing later. V . 81, p. 265, 726.
The g e n e r a l m ortg a g e bonds of 1880 are called at 110 In Increasing amounts
each year; $450,000 were paid June 1 1909. V . 88. p. 883.
In June 1890 the “ u n i f i e d " m ortg a g e (trustee, Central Trust Co.) for $75,
0(5o,000 was authorized, $41,917,660 bonds being reserved to retire all prior
Hens (none of the prior liens can be e xten d ed ), the balance for Im prove
ments, extensions (at the rate of $32,000 per mile, Including equipm ent),
and for other purposes. The m ortgage covers (besides 1,994 miles of
road and equipm ent), $10,093,300 stock of companies controlled and $3,
150,000 bonds free from any Hen. See abstract of m ortgage In V . 51, p.
613; also V. 72, p. 1034, 1188; V. 77, p. 968. In Apr. 1909 com pany re
ported $61,894,000 outstanding, of which $3,630,000 In treasury and $390,
000 In sink, funds. V . 81, p. 1848: V. 86, p. 1344; V . 88, p. 295.
M o b i le & M o n t g o m e r y — L o u is v ille <& N a s h v ille Joint m o rtg a g e Is for $5,000,
000; $1,000,000 reserved for Improvements. V . 61, p. 196, 750.
K e n t u c k y C e n tr a l mtge. abstract V. 45, p. 372.
South & North Alabama
Im provem ent 5s, due Aug. 1 1936. $1,920,000 authorized, are owned.
L o u is v i ll e & N a s h v ille T e r m in a l 4 s . — Jointly guaranteed, prln. and Int.,
b y L. & N. and Nashv. Ch. & St. L. See form , V . 88, p. 1313.
In 1902 the Louisville & Nashville and the Southern R y . acquired $9,796,
900 of the $10,500,000 Chic. Indianapolis & Loulsv. com . and $3,873,400 of
the $5,000,000 pref. stock In exchange for their Joint 5 0 -year 4% bonds. V .
74 p.1138; V .76. p .5 9 3 . Of the $15,500,000 Joint bonds secured b y deposit
of this stock, $1,563,000 arc reserved to acquire the remaining Monon
stock and $2,110,000 for “ M onon” lm pr’ ts, & c.,
The Atlanta Knoxville & Cincinnati division 4s ($50,000,000 authorized)
cover 726 miles. Of the bonds, an equal am ount will be reserved to retire
at m aturity underlying bonds, viz., Kentucky Central Is, $6,<42,000; A tlan
ta K n oxv . & North, bonds, $1,500,000. The line from Livingston to Jelllco,
61 miles, Is subject to prior lien of unified m tge. V . 80, p. 872; V . 84, p. 1428.
In July 1909 $21,702,000 had been Issued, of which $10,245,000 sold.
F IN A N C E S .— Permanent Improvements charged to Income account
In 1907-08 was $1,690,468; In 1906-07, charged to oper. expenses, $2,965,529. In Feb. 1907 dlvs. on Nashv. Chatt. & St. L. stock ($7,177,600
owned) were Increased to 6 % , but again reduced to 5% in Aug. 1908.
In A ug. 1908 the L. & N dividend rate was reduced from 6% to 5%
but restored to 6% In Aug. 1909.
„
In Jan. 1909 $29,864,000 bonds securing the $23,000,000 5-20-year collat.
trust bonds were sold, the latter being paid off April 1 1909 ami provision
being made to retire the $6,500,000 3-year notes at their m aturity M ch .jl
1910.
V. 88, p. 295, 452, 1253.
E A R N IN G S .— 11 m os., 1 1 9 0 8 -0 9 -..Gross, $41,898,184; net, $14,517,724
July 1 to May 31.
)l9 0 7 -0 8 --.G r o s s , 41,194,630; net,
9,807,874
F or 10 mos. ending April 30 1909, net, $13,335,070, against $0,113,340 in .
1907-08; taxes, $1,124,825; other incom e, $1,057,400; deductions (incl.
$ 7 3 7 , 2 8 8 for Im provem ents), $6,757,048; bal. for dlvs., $6,509,698. V . 89,
P -R E P O R T .— Report for 1907-08, In V . 87, p. 1006, 1020; see also p. 075.
Comparison with earlier years Inaccurate, owing to changes In accounting.
Y e a r e n d in g J u n e 30—
1908.
1907.
1006.
4,347
4,306
4,131
Average mileage_____________________
Freight earnings______________________$31,334,941 $35,235,787 $31,536,207
Passengers _________________________ 10,590,948
10,417,470
8,985,215
Mall, express, & c____________________
2,694,392
2,610,688
2,487,574
Gross earnings....................................... $44,620,281 $48,263,945 $43,008,996
Operating expenses___________________ 33,594,291 35,781,302 30,933,464
Net earnings............................................. $11,025,990 $12,482,643 $12,075,532
N et. lncl. Investments. & c................... 12,346,658 14,044,398 13,642,308
T a x e s .......................................................... 1,393,760
1,208,611
1,145,514
Interest and rent ...............................
6,039,091
6,052,659
5,719,095
Advances to S. & N. A ., & c-------------147,092
91,522
191,573
Sinking fund paym ents.........................
251,792
241,084
241,850
Additions and betterm ents................ 1,690,468 (Included In oper. exp.)
D iv id e n d s ..........................................(5 ^ )3 ,3 0 0 ,0 0 0 (6)3,600,000 (6)3,600,000
Surplus over dividends.........................def.$475,544sr.$2,850,522sr.$2,748,374
Ju
ly
, 1909. |
R A IL W A Y
STO C K S
A N D
BONDS.
81
R A IL W A Y
82
STO C K S
A N D
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b les
of
R oad
D a te
of
B on ds
Louisville & Nashville— (C o n c lu d e d )
....
n
.
10 1881
Henderson Bridge Co— 1st M g drawn at 1 0 5 -.C c,c*
105 1887
Nashv Flor & Shelf 1st M g assumed In lO O O .-.C e.c
254 1896
Paducah & Mem dlv 1st M, $5,000,000 g o ld ----------192 1880
Sou & Nor Alabam a 2d M gold sink fd $2,000,000
192 1886
Consol m ortgage (for $10,000,000) gold g u .-C e .c*
Ncwp & Cln 13r 1st M g s f assum gu b y Penn C o .. F
1895
1902
L & N -So J’ t M $7,750,000 red 105 since '07_S.c*& r
247 1887
K entucky Central 1st M ($7,000,000) gold ..AVp.c*
228 1896
A tlanta Knoxville & Northern llrst mtge gold — Cc
228 1902
Consolidated mortgage gold $10,000 per m ile .. Us
72o 1905
L & N— A tl Knox & C Dlv M $50,000,000. Us.c+&r
L & N Term M $3,000,000 gold guar Jointly.-M ac*
1902
1907
Notes $6,500,000 gold, to be paid at m aturity, .c& r
Louisville New Albany & Chicago— See Chicago India napoll s & Lo
19
Lykens Valley— Stock. Rental pays 5 % ......... ...........
97 1896
Macon & Birmingham— 1st M $500,000 gold — OB.c
93 1907
Maine Central— Stock and scrip ($12,000,000)-----------First consolidated mort-1 ($269,500 are 5 s)--------c&r 1 304 (1872
gage, $9,000,000____ ] ($3,265,500 are 4 s )-..c & r ;
11872
41 1883
Collateral trust bonds for Mt Desert B ra n ch ..A B .c
Im provem ent bonds “ A ” & " B ” not mortgage s f . .
’86-'87
Maine Central Eur & No Am refunding mtge g o l d ..
56 1893
First mtge Penobscot Shore Line R R Co a ssu m ed ..
48 1890
K & L second mtge (for $400,000) assumed . BB
48 1891
European & Nor Amer stock 5'% rental 999 y e a rs ..
120
109
Portland & Ogdensburg stock (2% rental 999 years)
First mortgage guaranteed prln and lnt endorsed
109 1908
Portland Union Station series " A ” & " B ” (text) s f
’8 7 -’89
Dexter & Piscataquis stock 5% rental 999 years—
17
17 1889
First mtge Dexter to Dover & cguar by en d — BB
53
Hereford R y stock (rental 999 years)-------- ------------ First mortgage guaranteed prln & lnt (endorsed).
53 1890
55
Upper Coos R R stock 6% rental 999 years------------22 1890
First mortgage guaranteed prln & lnt (endo s ed ).
33 1890
Extension M $21,000 p m gua antced p & 1 (end)
b.tlso $4,020,000 In trcas.or pledged for oth.Issues,&c . See text.
f $15,000. g $424,000 h $97,000. i$671.000. j $44.00 0. k $1 00.000
S iz e , o r
Par
V a lu e
A m ount
O u ts ta n d in g
$1,000 k$l .28'! ,000
,1996,000
1,000
1,000 r l , 591,000
1,000 Own L & N
8,000,000
1,000
1,400,000
1,000
1,000 &c n5,882,500
1,000 jO.705,000
999,000
1.000
500,000
1,000
1,000 &c zl0,245,000
2,5 "5,000
1,000
4,793,000
1,000 &c
ulsvllle.
600,000
20
500,000
1,000
1,240,000
1,000
4,988,000
100
4,193,500
100 & c
4,790,500
100 &c
669,000
1,000
450,000
1,000
1,000,000
1,000
1,300,000
1,000
400,000
1,000
2,494,100
100
4,392,538
100
2,119 000
1,000
300,000
1,000
122,000
100
175,000
1,000
800,000
100
800,000
1,000
350,000
100
350,000
1,000
693,000
1,000
A dd’l am ts. owned b
n$31,000 r$217 .000
O F F IC E R S .— Chairman, Henry W alters. N . Y .; Pres., M. H. Smith,
Louisville, 1st V .-P . W . L. M apother; 2d V .-P ., A . W . Morrlss. 71 B’way,
N . Y .— (V. 88, p. 944, 1253, 1313, 1373, 1500; V . 89, p. 42, 163, 225.)
LYKENS V AL LE Y RR. & COAL CO.— Owns from Mlllersburg, P a., to
Wllllainstown, Pa., 20 miles. Lease to Northern Central Is terminable on
60 d a y’s notice. R ental, $35,000 per annum .— (V . 64, p. 330.)
MACON & BIRMINGHAM R Y .— Owns Sofkee Jet. to La Grange, G a.,
97 miles; trackage, Sotkee to Macon, Ga., 8 miles. V . 78, p . 584. On
F eb. 3 1908 S. F. Parrott was appointed receiver. V . 86, p. 337.
In year 1907-08, gross, $146,882; op . d ef., $17,757; ln t., taxes and rentals,
$39,223; bal., d ef., $ 5 6 ,9 8 0 .— (V . 86. p. 337.)
MACON DUBLIN & SAVANNAH R R .— Owns road from Macon to VIdalla, G a., 93 miles. S tock, $3,200,000 auth.; outstanding, $2,040,000
(par $100), substantially all owned by Seaboard Air Line R y ., which guar
antees bonds, prln. and Interest. Of the bonds, $600,000 are reserved for
Improvements and betterm ents. V . 84, p. 102, 450. For year ending
June 30 1908, gross, $350,371; net, $61,696; other Inc., $70; ln t., taxes and
rentals, $83,680. Pres., Hom er Lorlng, Boston, Mass.— (V. 86, p. 981.)
A1A1NE CENTRAL RR — Line of road, Portland to Vanceboro, M e., via
Augusta, 251 miles; branches, Cumberland Jet. to Skowhegan, via Lewiston,
91 m .; Bath to I.ewlston and Farm ington, 76 m .; Belfast, Foxcroft, Bucksm ortan d Mt. Desert, Including ferry (7 .7 m .), 132 m .; Portland & Ogdensb’ g
R y .. Portland, Me., to L un enberg.V t., 109 m .;sm all b r.,11 m .; Upper Coos
and Hereford railways, Quebec Jet., N . H ., to Lime Ridge, Quebec, 108 m .;
Portland & R um ford Falls system , 104 m .; Bath to R ockland (Including
steam ferry, 6-10 m .), 49 m .; total, June 30 1008, 031 miles, of which 400
owned, 498 operated under 999-year leases and practically owned, 33 m.
under 50-year leases and 8 m. ferry lines.
In Jan. 1904 the entire stock of the W ashington County R y ., 139 miles,
was purchased, Its 3 X % bonds (see table above) being guar., prln.and ln t.,
by end.; but road Is oper. separately. V . 78, p. 103, 820, 989; V . 79, p.2640.
In April 1907 control of Somerset R y ., Oakland to Klneo Station, Me.,
and branch, total, 94 miles, was acquired. V . 84, p. 804, 1183. The Portand & R um ford Falls R R . (which see) was taken over under 999-year lease
In April 1907. V . 84, p. 868, 931.
S TO C K .— Stock for $2,516,000 owned b y Boston & Maine. V . 72, p. 088.
D IV ID E N D S .— 1884 to July 1903, 6 % yearly; O ct. 1903 to July 1907,
7 % ; O ct., 1907, to July 1908, 8 % yearly (Q .-J .).
BON DS — There are also $81,000 Maine Shore Line 6s assumed, due 1923!
also $85,000 Belfast & Mooschead Lake m tge. bonds, due 1920, not guar
anteed Interest and sinking fund paid out of rental; A nd. & Ken. stock
bonds $11,000, exchangeable for M. C. stock; Maine Central Interest scrip
exchangeable for consol, bonds, $8,192. Jointly with B. & M. guarantees
$300,000 Portland Union Station bonds.
In May 1908 $2,119,000 Portland & Ogdensburg 20-year 4 X % guar
anteed bonds, dated N ov. 2 1908 were sold to refund the bonds maturing
N ov. 1 1908. V . 86, p. 1285. In 1909 sold $2,000,000 4 % 5-year deben
ture notes dated Apr. 1 1909. V . 88, p. 686.
E A R N IN G S .— 11 m os., 11908-09------ Gross, $7,582,415; net, $2,292,325
July 1 to May 31.
J1907-08------ Gross, 7,826,216: net, 2,411,415
A N N U A L R E P O R T .— R ep ort for 1907-08 was In V . 87, p. 932. Comarisons
with
previous
years
p a rlson s ------.------------- -_ Inaccurate, owing to ch an gesjn accounting.
1907.
1906.
1905.
Y e a r e n d . J u n e 30—
1908•
Gross earnings---------------- $8,514,250 $8,348,139 $7,794,745 $7,251,530
$2,373,892 $1,488,840 $2,114,931
Net earnings----------------- $ 2 , 2 0 5,517
97,130
08,333
84,732
Other Incom e---------------63,2-3
$2,471,022 $1,587,173 $2,199,666
Net incom e.................. $2,268,740
.
.
nnn
ciao
1-7 (IAS
<a ii oan
$617,960
$617,960
$631,860
In terest_________
$617,960
Miscellaneous interest-37,135
551,186
605,853
545,876
Rents ______ _____ - ___
896,780
(7)348,369 (7)348,369 (7)348.305
D iv id en d s---------------- (8% )398,144
Hire of equipm ent------100,836
13,440
13,440
144,694
Sinking fu n d ------13.440
724,306 _____________ _____________
350,000
A dditions, &o--------------194,078 ____________
Balance, surplus........
$10,366
- * ' ° l s 09oi,
353\2 18
$178,871
— (V. 86, p. 229, 1285; V , 87, p. 675, 932; V. 88, p. 680.)
MANCHESTER & LAWRENCE R R .— Owns from Manchester N.1 1 ., to
Methuen (State Line), 22 X miles. Leased for 39 years from Sept. 1 1887 to
Boston & Maine at rental paying 10% dlv. In 189o a dlv. of o 0 /o paid from
proceeds of C. & M. suit.— (V. 73, p. 1264.)
MANHATTAN RY. (E L E V A T E D '.— ( S e e M a p In te r b o r o u o h Tlnpiil T r a n
s it C o . ) — Owns all the elevated railroads In boroughs of Manhattan and the
B ronx, N .Y . City, main line and branches, 3 7 miles, double-tracked, with
24 miles additional third track, sidings, &c ; total track, 118 miles; 3d rail
electric. V. 70, p. 176. 633; V . 75. p. 733.
L E A S E .— The Interborough Rapid Transit Co. leases the road for 999
years from N ov. 1 1 8 7 5 . guaranteeing 7% per annum on the stock. V .75,p.
1202, 1302- V , 76. p. 212; V. 79, p. 2456; also Interborough Rapid Transit
C o., V. 76’, p. 101. Guaranty, V . 76, p. 480.
BON DS.— C o n so lid a te d m o rtg a g e (trustee. Central Trust Co.) Is limited on
present mileage to $4 0 ,0 0 0 ,0 0 0 , and provided for prior bonds when due.
Am ounts beyond $40,000,000 m ay be Issued for extensions at the rate o f
$300,000 ner mile of single and $600,000 per mile o f double track. Of
the bonds $11,712.000 are tax-exem pt. (See abstract o f m tge. In V . 51, p.
248. and compare V. 52. p. 353; V. 86, p. 1467. 1589; V . 87, p. 285.
T o May 1898 claims aggregating $8,847,854 had been paid as damages to
abutting property and other cases were before the courts. Taxes In liti
gation Oct. 1907 (other than franchise ta x ), per balance sheet, $19,866.
V. 85, p. 1330. In Jan. 1907 franchise taxes for 1900 to 1905 ($3,170,142)
were paid and In June 1909 those for 1906 to 1908 ($1,706,403). V . 84,
p. 271; V. 80, p. 42.
D IV ID E N D S .— ! ’ 89. ’ 9 0 -9 6 . ’ 97. ’98. ’99. ’ 00. 01. '02. '03. S i n c e .
4
4
4
4
4 7 X 7 % y ’ rly
Since 1888_____ % J 5 X O y ’rly. 4 X
[VOL. LXX X IX .
BONDS.
R a te
%
W hen
P a y a b le
M &
6 g
F &
5 g
F &
4 g
A &
5 g
F &
5 g
4X6 J &
P
4 g
J &
4 g
J &
5 g
M &
4 g
M &
4 g
J &
4 g
M &
5 g
W h ere P a y a b le, an d b y
W hom
B on d s— P r in c i
p a l-, W h en D u e
S to c k s — L a st
D iv id e n d
S 71 Broadway, New York Sept 1 1931
A ug 1 1937
do
do
A
Feb 1 1946
do
do
A
Apr 1 1910
do
do
O
A ug 1 1936
do
do
A
July 1 1945
do
do
J
J P Morgan & Co, N Y July 1 1952
J 71 Broadway, New York July 1 1987
do
do
D
Mch 12002
S
do
do
May 1 15)55
do
do
N
D
Mch 1 1910
S
Office, 13 William St.N Y July 1 1909 I X
J No coupons ever paid
J New York Trust Co, N Y Jan 1 1947
July 1 1009 2 %
Q J Office, Portland, Me
A & Ol Nat Park Bk, New York, \A pr 1 1912
JApr 1 1912
A & Of Boston and Portland
J & D American Trust, Boston June 1 1923
J
& J N Y, Boston & Portland July 1916-1917
Jan 1 1933
do
do
J & J
Aug 1 1920
do
do
F & A
Feb 11921
do
do
F & A
Apr 15 1909 2 X
do
do
A & O
Q-—F 28 Maine Cent Off. Portland May 3 1 ’09. X %
A1 & N N Y , Boston & Portland N ov 1 1928
J & J Fidelity Tr Co, Portland June 27-Jan 29
July 1909 2 X %
J & J O ffice, Dover, Me
4
■J & J Bos Safe Dep & T r Co July 1 1929
ay 1909
2%
M & N N Y , Boston & Portland
4
N ov 1 1030
do
do
4
M & N
A1 & N Office, Portland, Me
6
4
M & N N Y , Boston & Portland May 1 1930
May 1 1930
M & N
do
do
4H
y Co. Ap rl 1909, viz.: c$21,000. d $163,00 0. c $7,000.
s $2,000 z$l 1,457, 000. P Coupons J * J : re g Q -1
5 In 1908
5 g
5 g
8 In 1908
5 & 7
4 & 4X
5
4X
4 g
4
5
5
2
4X
4
5
j
J
Q— J
&
Y e a r e n d in g J u n e 30—
1908.
.i
Gross earnings-------------$14,038,761 $12,794,720 $13,198,292
Net over operating expenses.................
7,730,379
7,372,006
7,651,354
Other incom e..............................
457,113
363,308
309,952
Interest rentals and taxes......... ........ 3,346,607
3,181,554
3,007,515
D iv id e n d s ................................................. (7)4,200,000 (7 )3,86 4 ,000 (7)3,864,00)
Surnlus after dividends....... ...........
$649,885
$689,760 $1,089,392
— (V .8 6 , p. 1467, 1589; V. 87, p. 37, 285, 1301; V. 89, p. 42.)
AIANILA R Y
(1906) Ltd.— O R G A N IZ A T IO N .— T o own (per plan
V. 83, p. 1470) practically all the bonds and shares Issued by the Manila
R R . o f New Jersey. The latter will build about 420 miles of road on the
Island of Luzon, Philippine Islands (V. 83, p. 1348), and take over the pres
ent system , 208 miles, operated by the Manila R y . (old C o,), total to be
652 miles. Incorporated under laws of Great Britain. Speyer & Co. and
others are furthering the enterprise. Construction was begun In Mar. 1007.
Concession amended May 1909. V . 88, p. 1313.
STOCK.— Ordinary shares authorized, £2,000,000; 5% non-cum.preference shares, with preference as to principal In case of liquidation, £2,000,000,
all of £10 each. Of ordinary shares, £1,600,730 Is reserved for the new Co.
D E B E N T U R E S .— The “ A ” and “ B” 4% debenture bonds are secured by
the same trust deed and are a first and second charge, respectively,
the
“ A ” debentures are subject to call after 1925 at 105. Denominations of
debentures, £20, £50, £100 and £200. T otal Issuable on 652 miles, under
supplemental trust deed of May 1909, £2,000,000 each of A anil B
debentures, o f which there are now Issued £1,800,000 A and £1,830,000
“ B ,” with power, by resolution of the debenture bond and stockholders of
that class, to Increase the limit of each of the Issues to £2,2o0,000. V. 86.
p. 337; V . 87, p. 166; V . 88, p. 1197.
„
.....
H . L. Higgins Is Pres, and Gen. Mgr. of the A m . C o.— (V . 88, p. 1313.)
M ANISTEE & NORTHEASTERN R R .— Owns from Manistee, M ich., to.
Traverse City, 71 m .; Solon to Provem ont, 15 m .; Platte R iver to Empire
Jet., 17 m .; other, 24 m .; total, 127 m. Stock, $2,000,000; ou t., $525,760.
Of the bonds ($1,500,000 atuhorlzed), $1,015.000
o u ts^ancllriff,
$40,000 mature Jan. 1 yearly from 1912 to 1936 and $1.>,000 In 1937, the
remaining $485,000 being reserved for extensions and Improvements, the
latter at not more than $100,000 yearly at not over 80% of cost. Sinking
fund of 50% of surplus Income beginning Juiy 1 1910 Is to bo used to call
bonds by lot at 102 X and Interest until $ i , 0 0 0 ,000 have been canceled.
V. 88, p. 375, 823. Cal. year 1908, gross, $430,252; net after taxes, $10o,-'
809; lnt. on unfunded debt, $86,364; betterments and additions-, $14, o04;
bal., sur., $4,940. Pres., Edw. Buckley, Manistee, Mich. (V. 88, p. 823.)
M AN ISTIOU E & NORTHERN R R — Manlstlque. Mich., on Lake
Michigan, northerly to Shlngleton, on the Duluth bo. Shore & A tlantic,
40 m ., with branch to McNeil’s, 13 m .; V. 75, p. 18o. Operate car ferries
between Manlstlque and Northport anil Manlstlque and Ludlngton on
Pere Marquette R R . Successor June 1908 to Manlstlque Marquette &
Northern, foreclosed Sept. 21 1905. V. 81. p. 075( V ’
A> °t6p atn n b
$1,100,000. The Grand Rapids & Indiana owned
*°?r
of old co. Year ending June 30 1908, gross, $97,114, def. under oper.
expenses, $25,286.— (V. 87, p. 97.)
MANISTEE & GRAND R A P ID S R R .— See page 169.
MANITOU & P IK E S PE AK R Y .— See page 169.
M A R SH A L L & EAST T E X A S R Y — See page 169.
M A R Y L A N D DE LA W A R E & VIRG IN IA R Y — See page 169.
M A R YLA N D & PENNSYLVANIA R R — Baltimore, Md.. to York, P a .,
80 miles, with branch, Delta to Peach Bottom , 4 m. V . 72. p. 339.
STOCK A N D BON DS.— Stock authorized. *3 >300 •?.°f£ ’ °,
i
1’?
*
500 reserved for future requirements. In 1 9 0 2 the authorized Issue o f the
llrst 4s was reduced from $ 2 ,7 0 0 , 0 0 0 to $1, 2 0 0 ,0 0 0 , o f whileh $203,000 are
reserved to retire the York and Peach Bottom 5s and $100,000 addi
tional for future purposes, &c. V. 74. p. 94, 427; V . 79, p. 2205. Marylaud & Pennsylvania Terminal guaranteed bonds, V . 82, p. 1041, 1102.
Equipment notes Deo. 31 1008, $35,000. Paid on Incomes 1901, 3 % ; since
to 1908, inclusive, 4% yearly.
E A R N IN G S .— 11 m os., 11908-09--------- Gross, $348,217; net, $103,611
July 1 to May 31.
J1907-08 _____ Gross, 353,627, net, 108,980
Surplus over charges, $59,900 in 1908-09, against $6a,2uu.
R E P O R T .— For year ending Dec. 31 1 9 0 8 . Kross, $367,033; net $103,441;
lnt. on bonds, & c.. $83,765; bal., sur., $19,676. I r e s ., John Wilson
Brown.— (V. 86, p. 421; V. 88, p. 506.)
MASON CITY & FT DODGF DP — (S e e M a p C h ic a g o G rea t W e s te r n .) —
Owns road from Oelwein la . to Council Bluffs. 260 mlfes; Hayfleld. Minn.,
to Clarion, la ., 100 m .; branches to Lehigh and Coalville, la ., 18 m .; track
age, Council Bluffs to South Omaha, 7 m .; total, 385 m. The Chicago Great
Western owns the entire outstanding com . stock t310,205 400^ of the au
thorized $20,000,000) and the non-cum . 4% pref. stock (513.63o.752 o f the
$14,000,000 authorized) and operates the road as part o f Its main line to
Omaha, under a 100-year agreement dated April 1 1001 and later modified,
the M. C. & F t.D . receiving 60% o f all earnings from business Interchanged.
A n y surplus o f net earnings after paym ent of Interest on bonds and pref.
stock Is to be held In trust by C. <5. W . for paym ent of future coupons.
This surplus on June 30 1908 am ounted to $1,221,866. In 1905 $12,000,000
4 % bonds were sold. Compare Chic. Great Western Ity. and V. 73, p.
566. 616, 722; V. 77, p. 640; V. 78, p. 1782; V . 801, p. 2621.
Blair & Co. of New York purchased the June 1909 coupons In order that
holders might suffer no Inconvenience pending announcem ent of Chic. &
Gt. VVcstcrn reorganization plan— the earlier coupons were paid when due.
V ,EARN INGS.‘— 11 m os.J 1908-09............Gross, $1,748,932; net, $500,399
July 1 to May 31.
11907-08 ______ Gross, 1,641,585: net, 510,221
R eport for year 1906-07 In V. 85, p. 1030. In 1907-08, gross, $1,796,144;
net, $594,352; charges, $640,577; bal., d e f., $46,225.— (V. 88, p. 1437.)
A1 A SS A W IP P I VALLE Y R Y .— Province Line to L enoxvllle, Q uo., 3t
miles, with branch, 3 m .; trackage to Sherbrooke, Q uc., 3 m .; total, 40 m.
Leased for 990 years from July 1 1870 to the Connecticut & Passumpslo
Rivers R R . Stock, $800,000; par o f shares, $100; dividends payable Leb.
Kahbekana0-
PACIFIC
'A. NORTHERN
iLttxfi L.
M A P OP T H E
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RAILROAD & CONNECTIONS.
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IN T E R E S T OR D IV ID E N D S .
.
M ile s
of
R oa d
F o r e x p l a n a t io n o t c o lu m n h e a d i n g , & c, , s e e n o tes
o n f ir s t p a g e o f ta b les.
W a s h C o 1st M0*°20,000'p m 'g 'o ld gu ar (end) redeem
S om erset R y n o te s 5 1 ,5 0 0 .0 0 0 gu ar prln & I n t------P o r tla n d & R u m to r d Falls R I 1 - S e e th a t c o m p a n y
M a n ch es ter & L a w ren ce — S tk 1 0 % re n t till 37 D & M
n R e a l esta te b o n d s (n o t m ortg age) Int gu b y B * M .o
M a n h a ttan (E le v a te d ) R y , N Y— S to c k $ 6 0 ,0 0 0 ,0 0 0 -N Y E lev d eben tu res secu red b y con s m tg e o t 1 89 0_.
M a n h a tta n E lev con s (n o w 1st) m tg e g o ld .- C e .c + & r
M a n is te c& N o rth e a s t— 1st M g d u e Part y ly i
c
M aui ton & P ik e’ s P eak R y — s t M J50 0,00 0 g - - A1 p x
M arietta C olu m b u s & C lcv e — I'Irst M $2o0 000 g - - - K
m d Del & V a— 1st M 5 2 ,0 0 0 ,0 0 0 a u th g o ld gu ar p & 1
M a rvla n d & P e n n s y lv a n ia —-Y ork & P e a ch b o t t o m M
M F ? r S m o rtg a g e I I ,200 ,0 0 0 g o ld call a t 1 0 5 -M c B a .e *
In c o m e m o rtg a g e 5 9 0 0,00 0 4 % cu m ca ll a t p a r .A lB a
M a ryla n d & P a T e r 1st M 5 20 0.00 0 g g u p & 1 red 110
M a s o n C it y & Ft D od g e — 1st M $ 1 2 ,0 0 0 ,0 0 0 g - C e .c & r
M a s s a w in p l— S to c k gu ar sam e d lv as C on n & P a s3—
M cC lou d T v e r - F i r s t m o rtg a g e 3 1 ,2 0 0 .0 0 0
--------M ea d v ille C on n eau t L ake & L in e svllle — F irst m t g e - - .
M eridian T erm in a l— F irst m tg e 525 0,00 0 g gu b p*& r
M lx lc a n C en tral— See N ationa l R a ilw a ys o f M e x ico
M c x In t— P rior lien E l,2 00 ,000 r e d a t p a r _ U n .x c * & r
F irst co n s M 5 1 0 ,0 0 0 ,0 0 0 g o ld n o t gu ar M n .x c* & r
d o g, guar sta m p su b j to call a t 95 to M ch 1907.
I n c o m e 4 % b o n d s (n o m ortg a ge) n o n -c u m u la tlv e
M ex ica n M ineral— 1st M $ 5 0 0,00 0 g red 110 s f
-M o
M ex N orth— First M O S g o ld , re d 105, s t . . . -M o .c * &r
M ex ica n R a ilw a y L im ite d — O rd in a ry sh a re s ------------F irst p referen ce s to c k 8 % - - ------------------------------------S econ d preferen ce s to c k 6 % - - ................................ —
P erp etu a l 6 % deben tu re s t o c k ------ - - - vw yiT j
2d d eben s £ 1 ,000,000 au th re d p a r b e g 1915 s f_ _ _
A lexico N orth W e s te rn — 1st M g o ld re d t e x t ...............
M ich ig a n C en tral— S to ck
1
1
50 6 0 8
0
200
1
J 40
S iz e , o r
Par
V a lu e
D a te
of
B onds
14
14
19
1897
137
1909
1904
1907
M -in c C en tral (C one!)— D e x te r & N e w p o r t s to c k 5 % .
F irst M (Old 6s re fu n d e d In 181)7) gu ar p& 1 e n d o*
E a stern M aine s t o c k '1M % re n ta l 909 y e a r s-------------
3100
9
44
71
40
80
80
378
37
615
880
880
1,000
100
1,000
1 .000 &c
1,000
1,000
1 ,000
50 & c
1.000
1,000
1,000
1.000
1557
1891
1905
100
1,000
1,000
1,000 A c
1897
1897
1897
£100 &c
$500 &C
500 & c
1899
1890
1,000
£10
£10
£10
£10
£100
£100
$100
1909
1909
1 200,000
L20 5°m T sE anUdT bran\!hes.
earn in gs. S t o c k , $ 200, 000, p a
I l ^ U e VP a
t o t M .^ T m iS ^ L ^ a s ^
«oke
. v
• Erlc RR-: rcntau 25% 01
T P U M IN A I C O .— O w n s p assen ger s ta tio n at M erid ian , M iss.
i lunft and used b y th e S ou th ern R y .. M obile & O h io . N ew
^ p f n.eA S* Pwnrt ,ea ste rn R R 7 A la b a m a & V tck sh u rg and A la b a m a G reat
O r l e a n s * N orth ea st ern R rv■. e a ch o f the c a p |tfti s to c k (5 1 0 0 .0 0 0 a u t h ..
m p iiit u a m
1
■S? Uthfr-,b 'sR,n o n o^ ssu cd nS c p t 1008) a n d gu a ra n tee the b o n d s Join tly an d
aeveraU y f / e X r S e n t f f S m
V 85 P 6 0 1 . P r e s .. D . D . C urran: S e e ..
W. J . K e lleh cr.— (V . 85 , p . 601 , 1 4 0 ..)
„
,
M F X IC A N C E N T R A L R Y .— I n 1909 so ld t o N a t. R y s . o t M e x ico .
X . r v t r ,\ \ i i n t p b n a T I O N A L R R . — (S e e M a p . p a g e o t . ) — O perates
„ J 9 ,f p IS , T ,-x urn S o u th e r n P a c .) .a n d C iudad P o rllrlo D iaz, v ia T o r r c o n .
E^ v f ^ ? re'nTC t o D u ra n g o 540 m . w ith b ra n ch e s. 124 m .; R c a t a to M on teo n M ex . C en t, t o D u ra n go oau i .
b ra n ch , D u ran go to T cp ch u a n e s .
J,,2,,H a io P a n a s o u lm o T 3 5 m
C a rb on bra n ch , 4 m .; to ta l, 018 m .
v ia S a n tia g o P a p a s q u ic ro .
^
Coa) R y
D aroteran to M usqulz, 24 m .,
J u n e 30 1008, IIncluding Co
m 2 , ’ o r g . u n d e r laws ol’ C o n n e cticu t,
leased till M a y 1 1 9 2 1 .
■ 8e* rop d , x
o t the s to ck and all o f the
10
5 5 780,100
a ^ M 'r v T
r
«
e
fa S
^ ^ T O c'k R— A ^ horlzc^<52*5J)00! o o O s u e d 1July'Vo08. $20,708,200.
1905 reserved fo r ex^te ■.. , ted t o s i6 ,0 0 0 ,0 0 0 . T h e gu aran ty ot p rln . and
to ta l Issue o f c o n s o ^ la0 , ^ A l c o under a g reem en t o f June 30 1002 stam p ed
,oAnt $
x6
B,5
^0
n1f aooono
the con
con sols
R y s.C oCnos. ool,f 4s
M cx.0 0 0 o ff the
so.s^has
H b e e n assum
^
y ed b yp the
1 5N
1 _a t.
l(m
oI
1 R97T l s t e d o n 'N 8Y .
S to c k E x c h . F e b . 1898. See ap p lica tio n In V .C O .p.341.
D i? m e m l on m corn es, 4 % . w a s pa id fo r 1902 to 190R Inclusive.
f a r n IN G S — ( " l e i . cu r.) 1 1 9 0 8 -0 9 - -G r o s s , $ 6 ,350,230 ; n e t, $ 2 ,013,112
Juim to M i y 31
m o s o l 1 9 0 7 -0 8 .-G r o s s . 7 .5 0 9 .0 8 0 ; n e t. 2 ,6 4 1 .0 7 8
A N N U A L R E P O R T .— R e p o rt f o r y e a r en d in g Jun e 30 1908 w as In V . 87 .
(11
118To(a|llrec’
|a l ’ N e t r e t . '
N et rev.
O th er
In t. on
i M e z c u r )(M e x .c u r .) ( V .S .c u r .) In co m e. B on d s.
im w n T
$8 281 566 $ 2 :631,588 $1 315,704 $3,323 $754,570
J S S I S S -------a r.72 770
2 817 707 1 .4 0 8 ,8 5 4 12,011 7 31 ,470
190n 7 w Y oV k 8o f f l 4 ’. 25 B r o a d S t r e e t ( V . 8 7 . p . 1154, 1130.)
? 5 .r n ? 4 ’
MEXICAN NORTHERN R Y .-O w n s ^ ™
B a la n c e .
S u r p lu s ..
$564,547
000 ,205
/ ^ pp’1Mc3clro’ 0Q th0 M<!Xl'
c a n Centra] R y .. to Sierra M o ja d a , 83 m iles, all steel.
S T O C K — C apital s to c k Is $ 3 ,0 0 0 ,0 0 0 : p a r o f shares, $100; see a p p lic a tio n
,n I n 1Junell1909 “ “ w a s ^ r n in v c d to °e x t e n d tiio $70 8,00 0 ou tsta n d in g 6 %
n A n . fiP n A
nsn th e o b lig a tio n to p a y to the sin k in g fu n d in terest on the
SS
b o n .la h d d b y t t e fu n d to fe a s c ; b u t sin k, fu n d o f % o f gross
a n d 'in t e r e s t to co n tin u e o n b o n d s a cq u ire d b y the fu n d after
T ? o ! S d ‘“
p 1 4 3 ? 1500- i n • T u ly ico o o v e r a m a jo rity o t the
b o n d s h ad c on s en te d to th e e x te n s io n .
V. 89, p. 1 0 .
N one
D I V I D ’ S .— I’ 02.
'1)3. ’ 9 4 . ’ 85 t o ’ 9 9 . '0 0 . ’ 0 1 .
02. ’ 03.
since
IV2
P er ce n t._ \ 6 J ^
6H 6
4 y e a r ly .
5 4M
2
41
.?2 000
5
1
S u r p lu s .
CQdlni ? £L eC’ 3o i h ^ n i o m r DC h a r o es .
$11 6,28 6
...........$30 7,59 0
$ 1 8 6,47 7
* U 6 'n 4 n
140,968
ono u i ft
?10 505
4 6 ,5 0 3
116,040
- ( V . 837 p V i S d l ? V 8 8 , p . 1313. 1437, 1500; V . 80, p . 104.)
MEXICAN RY.— See Issue o f J u ly 1908. (V .8 7 , p .1 4 2 0 ; V . 88 , p. 9 44 .)
MEXICO & NORTH WESTERN R R .— N am e ch a n g e d e a rly In 1909 fro m
1907
M c m n t r o lT a fb e re n “ c a u s 'd o f th e C h ihu ahua & P a cific R a ilro a d (th rou gh
K t h n f Its s to c k a n d b o n d s ), e x te n d in g fro m Chihu ahua
t o M lnaca
m iles1 a n c lL a JurRa t o T c m o s a c h lc . 55 m iles, and the Sierra
M aclrea&a ’P a cific R R (T em S sachlc t o M adera, 32 m iles) total 210 m iles,
a n d It w as p ro p o s e d In the Im m ed iate fu tu re to acq u ire furth er lines'
co n s tr u c t e x ten sion s (fo r w h ich con cession s h a v e b e e n gran ted) a m o u n tin g
t o a h o u f W m lles? w h ich it Is e x p e c te d w ill b e In o p e ra tio n b y J a n . 1 1911.
lncrea sin e the m ileage to 612 m iles. O ne term in al w ill ue a t r,i P a so, l e x . ,
and Snn ih o r V t Oli 1h u a h u a . a t b o t h o f w h ich large sm eltin g w ork s e x is t,
an d a U n e o f r o a d is p ro je cte d fro m C h ihu ahua Into the coal fields o f north e a s t e r n T t e x lc o
In M ch. 1909 also a cq u ire d tim b e r lands co v e rin g an
area o f o v e r 2 ,7 0 0 ,0 0 0 acres, la rg e ly c o v e r e d w ith pine fo re sts, w h ich w ill
b e cu t and sold . S ee V . 8 8 , p . 749 .
.
^ io n a
S to c k . $4 0 ,0 0 0 ,0 0 0 , o f w h ich $15 ,0 0 0 ,0 0 0 Issued
1909.
B O N D S __ Prpapnl lim it £5 000 000 , Of w h ich £3.000,000 Issued, m ay
b e Increased fo r ex te n sio n s, term in a ls, d o u b le -tra ck in g andf°ther_8P*2clal
pu rposes; N ationa l T ru st C o. o f T o r o n t o , tru ste e . B on d s are red e e m a b le
a t p a r M arch 1 1059 b y annual p a y m e n ts . c01P IP° n.cf n®:a p p lie d In annual draw in gs a t par o r b y pu rch ase a t o r b e lo w par, or as a
w h ole a t 105. V . 88 , p . 749.
^
v
. . . Q. ^ _ , n .
O F F I C E R S .— P r e s ., F . S . P e a rso n , 25 B ro a d S t ., N . Y . — ( V . 88 , p . 749.)
^2
4
MICHIGAN CENTRAL RR.—
R i v e r .) — L I N E
(S e e M a p s N m
Y o r k C e n tr a l & H u d s o n
O F R O A D .— M ain line— K e n sin g to n to D e tro it, 270 m .
a n d W in d s o r to Susp ension B rid ge (C an a da S o u th e r n ), 226 m .; to ta l m ain
iln e 496 m iles. B ran ch es o w n e d a n d lea sed , 1,2 3 6 m .; track age (111. C en t.)
5
4
W h ere P a y a b le, a n d by
W hom
W h en
P a y a b le
J
M
B o n d s — P r i n c i*
p a l. W h en D u e
S to ck s— L a st
D iv id e n d
J T reasu rer’s o ffic e , P o r t l’ d J u ly 1909 2 ^ %
&
& S N Y , B o s to n & P o rtla n d S e p t 1 1917
M ay 1909 2 M ,%
A p ril 1 1914
Jan 1 1954
Ju n e 1 1911
I & N M anchester a n d B o sto n
10
&
J B o sto n & M e R R , B o s to n
4
Q—J 21 P a rk R o w , N ew Y o r k
7
M erca n tile T r u s t C o , N Y
&
5
1,000,000
do
do
&
4 g
3 9 ,7 7 7 ,0 0 0
N Y
& G rand R a pid s
&
5 g
1.015.000
See te x t
&
5
500 .000
In terest In d e fa u lt
&
5 g
2 50 .000
T rea su rer’s O ffic e , P hlla
&
5 g
2,000,000
F irs t N a t B k , Y o r k . Pa
&
5
2 02 .450
B ro w n B ro s, N Y ; & B a lt
&
4 g
8 97 .000
do
do
& yj
9 00 .000 4 In 1908
N
A
le x B row n & S o n s, B alt
200 .000
5 g
& D J u n e '09 c o u p p urchased
4 g
12 ,0 0 0 ,0 0 0
& A S afe D cp & T r C o , B ost
6
8 00 ,000
& ( ) ............................................ ..
5
1.200.000
„
&
jlM e r c h N a t B k, M e a d v .P a
5
200 ,000
M & N S ta n d a rd T r u s t C o . N Y
250 ,000
4 g
M a y 1 1909 5 %
Jan
1922
.July 1 1909 1 H
M ch 1 1916
A p r 1 1090
Jan 1012-1939
O ct 1 1909
N o v 1 1940
F e b 1 1955
A p r 1 1932
M ch 1 1951
A p r 1 1951
M ay
1936
J u n e l 1955
A u g 1 1909 3 %
p ill 1 1937
Ju ly 1 1921
M ay 1 1955
4H M <5s N
Q—J
4
3Hg J & J
5
&
1 ,0 0 0 ,0 0 0
2 74 .000
6 0 ,0 0 0 ,0 0 0
100
1886
1890
1909
1889
1890
1905
1882
1901
1001
1906
1905
R a te
O ffic e , R o c k la n d , Me
N Y , B o s to n & P o rtla n d
N Y , B o s to n & P o r tla n d
do
do
D
1,000
1892
1,000
$12 2,00 0
175.000
2 00 .000
2 ,0 0 0 ,0 0 0
2 .5 0 0 .0 0 0
1 .5 0 0 .0 0 0
1,000
22
"3 7
32
37
A m oun t
O u ts ta n d in g
1,000
100
1 .000 <vc
. j a nrr
D iv id e n d s fo rm e r ly 5 % , 6 % sin ce J a n . 1 *97. O f th e s t o c k ,
* in o Anoo' owned b y the C on n . & P ass. R iv e r Is d e p o site d under Its m tg e . and
S ? o 0l °rep resen ted et w C o n n e c tic u t Trusty & S ^ e D c p o s l t C o . o f H a rtfo rd
* ’ trust.
(See “ S u p p le m e n t o f O cto b e r 1901.)
5* %
tru st r»*rt.ineates.
certifica tes.
1001.)
n u n d i v F R R R — O w n s fr o m Sisson. C a l., to M cG a vIc. 5 0.6 m iles
X t n * SI
000
B on ds ($ ,
a u t h .). M ercantile T r u s t C o ., San
v . n
m f r u s t e c
V 8 5 . P. 1005. F o r year e n d in g Ju n e 30
i o n s C^
n
e
t
$ 16 0,03 3: In t., ta x e s, & c ., $15 1,00 3: b a l „ su r .,
?88 ^ ° ^ e ! 4^ d 8G b n % » H : Q ueah V -P
D - M- S w o b e . O ffic e ,
J a m e s F lo o d B ld g ., San F r a n cis c o , c a l . — (V . iso, p . iu u d .j
gross
[VO L. L X X X IX .
RAILWAY STOCKS AND BONDS
*4
5 .8 5 0 .0 0 0
7 0 5 ,5 0 0
6 .5 0 1 .0 0 0
4 .4 9 9 .0 0 0
b34 0.00 0
a708 ,000
£2,254 ,720
£2,554.100
£ 1 .011,960
£ 2 ,000,000
£ 1 ,0 0 0 .0 0 0
£ 3 ,000,000
c$18738.000
__
4M g M &
M &
4 g
M &
4 g
S ept
4 In
F &
6 g
0 g J &
S S p e y e r B ro th e rs, L o n d o n
O ffic e , 25 B roa d S t, N Y
do
do
,
O w n e d b y N a t R y s o f M ex
M orton T r u s t C o , N Y
O ffic e , 82 B e a v e r S t, N Y
8 in 1908 M
33
A In ’08
6
N G lyn ,M llls,C u rrle & C o .,L o
do
do
do
do
do
do
&
4H
5 g
6 In 1909
1
1
S e p t 1 1947
S ept 1 1977
S ep t 1 1977
S e p t 1 1977
A u g 1 1919
See te x t
M ay 1900 3:,ie %
N o v2 7 1908 % %
P erpetual
D ec I960
M ch 1 1959
Gran~d~ C en t "S ta tio n , N Y J u ly 20 1909 3 %
Into C h icago u n d e r perpetu al lease, i 4
h e t r i c k s ’ 1 ,7 4 ° mUCS*
T h e re are 541 ra. o f c c o n d tra ck and 1.293 m . o f side tracKs.
0
In D e ce m b e r 1907 th e C h icago K a la m a zo o & Saginaw
t o W o o d b u r y , M ic h ., 55 m iles, w as acq u ire d In th e Interest o f the
b u t w ill b e op e ra te d In d e p e n d e n tly. V . 84 . p . 50. O n M a y 1 1007 the
D e tr o it & C h a rle v o ix R R ., F red erick t o E a st J o r d a n , 44 ini., w ith b r ^ ic h
t o Blue L a k e , 8 m iles, w as p u rch a se d .
V . 8 5 , p . 2 2 1 . F o r c o n tr a c t w ith
CT^A aprtlU
l t e h e 8eMlch!1C & tS fw is building a third-rail electric tunnel
fo°nagd.U
u M e Dc ^ ^
099
years fro m J a n . 1 1907. See B O N D S b e lo w . V . 80 , p . 2343, V . 8 2 .
p . 1156; V . 84 , p . 339, 1052.
C O N T R O L .— T h e N . Y . C en t. & H u d . R iv e r R R . C o .
AprB 1898
g a v e $115 m Its 3 H % 1 0 0 -y e a r g o ld b o n d s f o r $100 s to c k , an d so h old s
$ 1 6 ,8 1 4 ,3 0 0 o f the $ 1 8 ,738 ,00 0 s to c k Issued.
D I V I D ’ S . ( ’ 84 . '8 5 -8 6 . '8 7 -8 9 . ’ 0 0 . '9 1 . ’ 0 2 -9 4 . ’ 9 5-00. ’ 07 . ’ 0 8 .1 9 0 9 .
Per c e n t - - ! 3
n il. 4 y r ly .
5 5 }4 y r ly . 4 y r ly . 6
8
6
B O N D S .— B ailie C r e e k & S tu r g is b o n d s fo r ^OO.OOO, b u t o f this $70^000
5
1 740,000
w as su b-gu aran teed b y the L ake Sh ore & M*cZ17rf ,nr>n7
n f^ O O l 'a r e a&l s t
be in g o p e ra te d b y th at c o m p a n y . T h e $ ,
3 M s o f 1901 are a 1st
m tg e . o n th e Ja ck so n L an sin g & Saginaw R R . . 3o 0
p'
V . 76, p . 102 7). O f the $ 1 8 ,000 ,00 0 3M S o f 1002, $10 ,0 0 0 ,0 0 0 w ere sold
t o retire Orst 5s an d 7s, $4 ,0 0 0 ,0 0 0 a d d itio n a l bein g s o ld , $ 5 ,000,000 re
se rv e d fo r a d d itio n s . & c. V . 74. p . 728; V . 76 p . 102: V . 8 3 . p . 1229.
F irst 4s o n J o lie t & N orth ern In d ia n a , see V , 8 4 , p . 13£ 7 , 1428.
T o le d o C a n a d a S o . * D e t . guar. 4s o f 1906. see V . 82 . p .
Pvml2 S *
T h e D e tro it R iv e r T u n n el b o n d s, a u th orized Issue $15,,000,000 (see a b o v e ) .
b e a rin g Int. a t n o t ex ce e d in g 5 % , w ill he gu aran teed . V . 8 2 , p . 8«>8, 1 1 5 ».
In A p ril 1909 an Issue o f $ 2 5 ,0 0 0 ,0 0 0 4 % 2 0 -y e a r d e b e n tu re s w as a u th or
iz e d . o f w h ich $ 1 0 ,000 ,00 0 so ld t o p r o v id e fo r a d v a n ce s to D e troit R iv e r
T u n n e l C o ., part o f rem ain der to retire the $10 ,0 0 0 ,0 0 0 o % n otes d u e 1 e b . 1
1910.
A n ew divisio n a l m tge. fo r $4 ,5 0 0 ,0 0 0 has b een a u th o riz ed on the
G rand R iv e r V a lle y R R ., o f w h ich $1 ,5 0 0 ,0 0 0 w ill b e issued to retire the
s t 6s d u e S e p t. I 1909, s i ,
fo r d o u b le -tra ck in g , & c ., a n d rem a in d er
re se rv e d fo r futu re req u irem en ts. V . 88, p. 945 , 1002, 1061, 12o4 .
J o in t ly w ith fo u r o th e r ro a d s, c o v e n a n ts to p a y N ew Y o r k ,C en t]*aI
$30 ,0 0 0 ,0 0 0 5 % car tru sts o f 1 9 0 7 ,th e c o m p a n y ’ s share o f e q u ip m e n t leased
b e in g $ 3 ,9 0 6 ,3 8 2 . V . 85 , p . 1402; V . 8 6 , p . 168; V . 8 8 , p . 761.
E A R N I N G S .— 5 m o s ., 11909...............G ross, $1 0 ,4 1 3 ,3 1 7 ; n e t, $ 2 ,9 9 9 ,3 0 7
9 ,4 0 7 ,4 8 5 ; n e t,
,,>66,580
J a n . 1 t o M ay 31.
\1908________ G ross,
A N N U A L R E P O R T .— R e p o rt fo r 1908 a t le n g th w a s In V . 8 8 , p . 7 4 2 ,7 0 7 .
Y e a r e n d in g D e c . 31—
1908.
1907.
«;»a1oo?*RA»
1
500,000
2
O p era tin g e x p e n s e s ____ 19i005,352
N et e a r n i n g s ................... $ 5 ,913,136 $5 ,4 1 5 ,3 5 9
$ 6 ,117,878
N e t, Incl. o th e r In co m e - $6,568,041
568,200
510 .310
R en ta ls p a i d . ....................
2 ,0 9 8 ,2 3 0
In te re s t on d e b t .......... ..
2 ,2 6 8 ,9 3 8
1,008,776
T a x e s ______
1,105,694
713 .307
In te re st on loan s, & c ___
1,056,578
(6 % ) 1 .1 2 4 .2 8 0 (8 )1 ,4 9 9,040
Dlvldentls.
P r S ? ,UW iii: h 7 B r o w n . N
* « V .
sl?:?38:2§® ^isisosioio
$ 4 ,545,324
$ 4 ,9 4 7 ,3 2 8
506,310
2 ,0 7 3 ,8 5 0
1,001,741
317 ,599
(5 )9 3 6 ,9 0 0
$4,417,952
$4,733,764
561,202
2 ,0 1 5 ,3 2 0
962,002
221 ,785
(4 )7 4 9 ,5 0 0
$50,928
$223,034
045 . l o o i T l O e i . i V * '. ”
«
^ c h 3f1°Vy ? ? , T ^ ^ b o n Cd T trf
«
o p . e x p ., $3,660; Int a n d ta x e s, $22 ,360 ; b a l.. d e f., $20 ,020 .
(V . 6 l.p .6 0 4 .)
M 1D L A N D V A L L E Y
s o u th to H o y e , A r k ., anil uorth to F ld e lR y . A r k ., m B o ir o m E X ce'slor w est
to S llverd ale, K a n ., and from Je n k s, 0 . 1 .. to G ienn Poiol. O .
a total o f
S m it h ." l'^ m .^’ and 'l B lv c r d a l^ 't ^ A r k a ^ a s S \ t ^ ^ 2 3 * 4 5 ra]1'e^ ^oV alt op eratCT h c3 C h S o k c b C?nswuct*lon C4L2 'v y lth °i3 ,S 0 o :o o b s to c k , o w n s n early a ll
9000 000
$ ?
.
;V o u ts te n d tn g ' J u n e " . * V w * ’ ^ M . O l S ; ^ p a r o f shares, $5o'.
B o n d s are s u b je c t to call a t 107 Vi to an d ln ch id ln g J a n . 1 1 9 1 0 .
E A R N I N G S .— 11 m o s . 1 9 0 8 -0 9 ---------------« e t , $129,321
Tulv 1 to M av 31
11907-08
_______ G ross, 977 ,673 , n e t, 187,620
F o r year ending7 Ju n e 30
, gross, $ 1 ,0 3 1 ,2 3 2 ; n e t, $185,400; oth er In
c o m e , $58 ,228 ; In t., ta x e s, & c., $35 5,43 9; b a l., d e f ., $1 1 1 ,8 1 2 . -Rrc s *»
Charles E . In gcrsoll; S ec. a n d T r e a s ., H . E* Y a rn all. O ffice , G irard T ru st
B ld g ., P h ila d e lp h ia .— (V . 8 6 , p . 548, 1160.)
M I L L C R E E K & M IN E H I L L N A V IG A T IO N & R R .— Mill Creek J c t t
B ro a d M o u n ta ln , P a ., 3.81 m .; s e co n d tr a c k ,
t ia c k , 34.7
m iles. L eased In 1861 f o r 999 years t o PhUa. *
^ a s e as
su m e d In 1896 b y P h lla. & R e a d in g R a il w a y , re n ta l, $33 ,000 an d ta x es.
1908
M IN F M i l I & SC H IJY I KTI L
A sh la n d a n d Enterprise Jet 39 15
An 1897 r e n t a lr e d u o e d to* d % o n
J a n . 1 1807 to P h lla. & R e a d .
in J u ly , M % be in g d e d u cte d fo r
H A V E N RR *— F r o m S cliu y lk lll H a v en to
m 2d tra ck , 17.05 m .; t o t .t r a c k , 136 .86 m .
s ro ck u n d e r n ew lease fo r 099 years fro m
R y . C o “ . 3 W % Is pa id In Jan . a n d 3 %
ta x e s .— ( V . 63 , p . 1011.)
M I N E R A L R A N G E R R .— H o u g h to n , M ic h ., t o C a lu m et, M ic h .. 14 m .:
H a n c o c k to M oh aw k , 21 m .; b ra n ch e s, 31 m *t S o u th R a n g e e x te n s io n $ K e
w een aw B a y to M ichigan M ine, 39 in ., o p e n e d D e c. 24 1000; tr a c k a g e , 7 m „
M oh aw k R R . operates 17 m .; t o ta l, 129 m iles, all stan d ard ga u g e . O J
Jun e 1 1901 the H anco'ck &, C a lum et R R .
m erged ( V . 73, P* ^ 85). I n
y e a r 1895 pa id d iv id e n d s 10 H % : In 1896, 7 % ; I J J 7 »
1898, 3 ^ / o .
n o n e sin ce.
A u th . s to c k , $1,20 0 ,0 0 0 ; o u ts ta n d in g , $ 1 ,085,000 ; p a r , $100.
B O N D S .— Consols f o r $ 1 ,000 are reserved to r $ 3 ,000 o ld bonds. O f the
$ 59 3,00 0 o u tsta n d in g , $33 9,00 0 are 5s; the Can. P a c. on Ju n o
1908
o w n e d the rem ain ing $254,000 (w hich are 4s) a n d the $ 1 ,000,000 g en . m tg e .
30
J u l y , 1909.1
IN T E R E S T
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n fir s t p a g e o f ta b le s.
do
*5
RAILWAY STOCKS AND BONDS
do
M O new M on Gr Rlv Val, $4,500,000, text.
of
R oad
D a te
of
B onds
270 1902
115 1890
152 1881
152 1881
84 ’7 9 - ’ 86
84 1909
39 1889
350 1901
45 1907
1904
1907
___ 1909
___ ____
84 ____
18 1889
41 1889
59 1906
1906
13 1866
1871
293 1904
S iz e, o r
Par
V a lu e
Am ount
O u ts ta n d in g
4s, b o th o f w h ich It g u a r, as t o ln t.
V . 75, p . 554. See V . 73, p . 556, 618:
V . 73. n. 785 . O f ton n a ge In 1007-08 8 8 % w as ores a n d m in in g p ro d u cts .
E A R N I N G S .— F o r 11 m o n th s e n d in g M ay 31:
11 M o n t h s — G r o s s .
N et.
O th er I n c .
C h a rges.
B a la n c e .
$11 9,89 7
$3,033
$159,624
d e f.$ 3 6 ,6 9 4
1 9 0 8 -0 9 -------$75 5,80 6
106,605
4,282
140,902
d e f.2 9 ,9 2 5
1 9 0 7 -0 8 ____ 735 ,976
R E P O R T .— F o r y e a r 1007-08, gross, $ 80 6,07 5; n e t, $1 1 7 ,2 1 0 ; o th e r In
c o m e , $1,467; ta x es, $37,705; lilt., $91 ,361 ; o th e r d e d u c t io n s , $23 ,6 1 6 ;
d e f., $ 3 1 ,0 0 5 .— (V . 73, p . 785.)
MINNEAPOLIS & ST. LOUIS RR.— {S e e M a p . ) — O w ns m ain line M in
neap olls to A n gu s, l a ., 260 m iles; W e ste rn D Iv ., H o p k in s t o W a te r to w n ,
S . D ., 215 m iles; K a lo B ra n ch , 1 m .; L a k e P a rk B ra n ch , 1 J4 m .; W in
th rop ,M ln n ., to S torm L a k e, M in n ., 154 m .
Leases tra ck a ge fro m M inne
ap olis t o S t. P a u l o v e r S t. P aul & N o rth . P a c. R R . , 10 m .; fro m S p e n ce r to
R u th v e n o v e r Ch. M . & S t. P ., 12 M m .; fro m T a ra to F o r t D o d g e , o v e r 111.
C e n t., 6 m .; leases D cs M oines & F o r t D o d g e R R . , Des M oines to F o r t D od ge
a n d T a ra t o R u th v e n , 138 >4 m .; also leases M in nesota D a k o ta & P a cific,
W a te r to w n t o L eola , S. D ., 114 m ., a n d C on de to Le B ea u , S. D ., 115 m .;
to ta l o p e r a te d Ju n e 30 1908, 1,027 m iles.
A lso leases t o B . C. R . & N .,1 3 m.
H I S T O R Y .— A reorgan ization In O ct. 1894, p e r plan In V . 59, p . 371 .
P ersons Identified w ith M inn. & S t. L . c o n tr o l th e I o w a C en tral R y .,
th e Ches. & O h io , also T o le d o S t. L o u is & W e ste rn , w h ich In S e p t. 1907
a c q u ir e d co n tr o l o f the C h icago & A lto n .
D es M oines & F t . D o d g e R R .,
c o n tr o l a c q u ir e d In 1904, Is leased fo r 30 years fro m J a n . 1 1905. V . 78,
p . 2335; V . 79, p . 209, 1701; V . 81, p. 1430.
S T O C K .— A fte r 5 % o n ea ch , preferred a n d c o m m o n share p ro rata.
D I V I D E N D S .— '9 7 . '9 8 . '9 9 . '0 0 . '0 1 . '0 2 . '0 3 . '0 4 . '05 t o '0 8 . 1909.
P r e f e r r e d ..................) 3 3 M 4 X
5
5
5
5
5 5 y e a r ly .
5
C o m m o n .............. % J ------ N o n e ----- 1 )4 4
5
5 2 >4
0
B O N D S , & c .— B on ds Issued un d er t h e m tg e . d u e Jun e 1927 n u m b e re d
fro m 1,101 to 1 ,400, f o r $500 e a ch , a d d itio n a l t o th o se a b o v e , w ere assum ed
b y B u rl. C ed ar R a p . & N o rth , (n o w C h. R o c k I. & P a c.)
T h e r e f.m t g e .o f 1899 llm it3 the 1st c o n s o ls .(V .5 9 , p .1 1 4 5 ) t o $ 5 ,1 5 5 ,0 0 0 .
First r efu n d in g m tg e. o f 1899 Is fo r $2 5 ,0 0 0 ,0 0 0 , o f w h ich $8, >30,000 re
serv ed to retire u n d erly in g b o n d s an d $ 4 ,6 0 0 ,0 0 0 f o r fu tu re e x te n sio n s, im
p rov em en ts, & c ., un d er severe re s trictio n s . T h e m tg e . is a first lien o n 283
m iles o f r o a d , & c ., an d a b la n k e t lien o n rest o f p r o p e r ty , an d Is fu rth e r se
cu red b y d ep os it o f $ 2 ,530,000 D es M oin es & F t. D o d g e c o m . s t o c k . V . 6 8 ,
p . 187, 332; V . 79, p. 2147; V . 8 0 , p . 2220; V . 8 7 . p. 1420; V. 8 8 , p . 295,
452 , 506. See V . 69, p . 32.
T h e $ 5 ,0 0 0 ,0 0 0 5 % n otes o f ,l!rl)6 are secu red b y the $ 6 ,2 5 0 ,0 0 0 M in n.
D a k o ta & P a cific 1st g o ld 4s a n d the la tte r s ’ en tire s t o c k .
V . 8 2 , p . 392,
692, 1102; V . 83, p. 38, 1114.
T h e $3 ,0 7 2 ,0 0 0 D es M oines & F t . D o d g e 4 % b o n d s d a te d J a n . 1 1905
are gu a ra n teed , prin cipa l an d In terest. V . 79, p . 1704, 2696.
E A R N I N G S . - - 1 1 m o s .,/1 9 0 8 -0 9 ---------- G ross, $ 3 ,8 1 9 ,2 2 2 ; n e t ,$1 ,0 2 9 ,4 0 5
J u ly 1 t o M ay 31.
\ 1907-08---------- G ross, 3 ,5 3 8 ,2 4 9 ; n e t,
914,881
F or 6 m os. en d in g D e c. 31 1908, net a fte r ta x e s , $79 1,00 0, again st $ 7 2 9 ,
846 In 1907; oth er in com e, $12 9,87 6; ch arges, $72 5,33 7; p re f. d lv . ( 2 J 4 % ),
$10 0,00 0; b a l., su r., $95 ,535 .
A N N U A L R E P O R T .— A nnual m eetin g first T u e sd a y In O c to b e r .
R e
p ort fo r 1907-08 w as In V . 87, p . 1157. C om p a rison Inaccurate.
Y e a r e n d in g J u n e 3 0 — 1907-08.
190 7-0 6.
100 5-0 6.
190 4-0 5.
A vera ge m iles o p e r a te d 1,005
798
799
720
G ross ea rn in g s.......................$ 3,826,516
$3,873,668
$ 3 ,7 2 6 ,6 6 5 $ 3 ,0 7 6 ,7 5 6
Net over taxes________ $1,010,171
Other Income__________
300,965
$1,316,537
292,943
$1,417,468
259,732
$1,130,381
236,075
Total net Income.........$1,311,136
$1,609,480
$1,105,388
66,257
100,909
22,492
(5)200,000
$1,677,200
$1,095,932
66,522
98,716
$1,366,456
$1,020,376
61,737
In teres t paid..................... $1,107,677
R e n t a l s __________
67,782
Net earns.D.M.& Ft.D.
1,965
Miscellaneous.........
24,732
DIv. on pref. stock......... (5)200,000
(5)200,000
26,848
(5)200,000
Balance for year.........def.$91,020 sur$114,434 sur$216,030 sur $57,495
OFFICERS.— Pres., Edwin Hawley, N. Y.; V. P., L. F. Day; Sec.
A. C. Doan, N. Y.; Treas., F. If. Davis, 25 Broad St., New York.
Directors.— E. Hawley, H. E. Huntington, F. E. Palmer, F. H. Davis,
Frank Trumbull, Theodore P. Shonts, New York; L. C. Weir, N. Y.- L. F
Day. Minneapolis; F. P. Frazier, Chicago, 111.— (V. 88, p. 1373, 1500.)
MINNEAPOLIS ST. PAUL & SAULT STE. MARIE RY.— Owns main
line from Sault Ste. Marie, Mich., via Minneapolis to Portal, North Dakota,
at the international boundary line, there connecting with the Canadian Pac.
1,039 miles: branches, Hanklnson, N. I)., to Garrison, 292 m.; Glenwood,
Minn., to Emerson, 265 miles; Thief River Falls, Minn., to Kenmare, N. I).,
296 miles; WIshek, N. D., to Pollock, 70 m.; other branches, 311 in.; spurs,
16 m.; total July 1908, 2,289 miles; also trackage to Minneapolis, St. Paul
(being replaced by line owned, V. 83, p. 38) and Sault Ste. Marie, 19 miles.
Extension from main line near Brooten, Minn., northeast to Duluth. 189
miles, not included above, was completed July 1909. Contract for ex
tension from Moose Lake, Minn., to Thief River Falls, Minn., 220 m., was
let In June 1909. V. 88, p. 1500.
HISTORY.— A consolidation In 1888 of Minn. Sault Sto. Marie & AtL,
Minn. & Pac., &C. See V. 46, p. 538, 609; V. 77, p. 628.
In 1909 control of Wisconsin Central was purchased, affording a Chicago
connection, the road being leased for 99 years from April 1 1909, $10,861,300
leased lino certificates being Issued (to July 1909), secured by the Wls. Cent,
pref. stock, on which 4% dlvs. arc paid. V. 88, p. 232, 564, 086.
STOCK.—Canadian Pacific on July 1 1908 owned $8,480,000 common
and $4,240,000 preferred. Preferred stock has a prior right to 7% (noncumulatlvo); then common to 7%; then share pro rata. V. 75, p. 549.
Stockholders In April 1909 subscribed for $2,016,000 pref. and $4,032,000
com. stock at par, payable 20% on subscription and 2 0 2 5 each June 4,
July 15,flAug.|31fandjOct.|15 1909, Increasing the amount outstanding to
W h en
' P a y a b le
OR D IV ID E N D S
W h ere P a y a b le, and by
W hom
Sl.OOO&c $ 1 4 ,0 0 0 ,0 0 0
314 e M
& N R e g a t G C S; c p a t G T r
1,000 & c
2,600,000
*
J
4
.1 R e g a t G C S; c p a t U T r
1.00C \ 4,000,000 /
M & S U n io n T r u s t C o , N Y
5
1,000 &c J
1 Q — d G ra n d C en t S ta tio n , N Y
l
5
1.00C
1,500.000
6
M & S U n io n T r u s t C o , N Y
See t e x t .
4
1,000 &c
70 0 ,0 0 0
5
M & N G rand C en t S ta tio n . N Y
1,000
1,728,000
314 e M & S R e g a t G C S: cp a t G T r
1 ,5 0 0 ,0 0 0
4 g
J & J 10 G u a ra n ty T r u s t C o , N Y
4 U cr i1— \T
1,096,200
1,000 &c 1 0 ,0 0 0 ,0 0 0
5
F
& A G rand C en t S ta tio n , N Y
1,000
7 .6 3 4 ,0 0 0
A & O N ew Y o r k
4 g
100
2 ,0 0 0 ,0 0 0
M fc
s
do
do
3 14
100
4 91 ,200
5
J
fc
J J a ck s o n , M ich
1,000
25 0 ,0 0 0
J
& D U n ion T r u s t C o , N Y
3 g
1,000
4 21 ,000
3 g
& D
do
do
J
1,000 &c
3 ,1 0 0 ,0 0 0
J
fc
4 g
J G rand C en t S t a tio n , N Y
N ’ ne Jn e '09
100 & c
150 ,000
M fc N N Y S u sq & W e s t , N Y
5 g
500 &C
2 50 ,000
5
fc D
J
do
do
1,000
5,98 0 ,0 0 0
fc
J
J O ffic e , P h ila d e lp h ia
5 g
J
J P h ila d e lp h ia
&
25
323 ,375
10
I'lUlCO v 1
^V/lUibV uv
-------------— - —D eb en tu res, $ 2 5 ,0 0 0 ,0 0 0 a u th , g o ld ------------------ c& r
J a ck Lans & Sag s to c k 3 *4 % y e a rly guar b y e n d - G rand R iv e r V a lle y s to c k rental In p e r p e t u i t y .- - B a y C ity & B a ttle C r i s t M g gu ar p & l e n d - - M p .c *
B a ttle Cr & Sturgis 1st M g g u ar p & l e n d - - M p .c *
T o lC a n S o & D e tls tM $ 4 ,5 0 0 ,0 0 0 g gu p & l(e n d ) G .c*& r
D e tro it R iv e r T u n n el 1st M $ 1 5 ,000 ,00 0 g u a r
. G
M id d le to w n U nion & W a ter G ap— 1st M e x t In 8 6 - c *
S econ d m ortg a g e lnt guar e x t In 1896 (see t e x G - . c *
M id lan d V a lley— 1st M $
p m g red ( t e x t ) a P .c *
M ill Creek & M ine H ill N avigation & R R — S to ck
M ilw au k ee Lake Shore & W e ste rn — Sec C h icago & N o rth W estern
M ilw au k ee & N orthern— See C h icago M ilw aukee & St Paul
no
4 ,2 1 0 ,2 0 0
39
M ine Hill & S chuylkill H aven — S to c k (0 % rental)
.
593 ,000
500 & c
16 1891
M ineral R a n g e — C on sol m tge (te x t) g o ld red a t 1 0 5 . . c
100,000
1 ,0 00,000
73 1901
G eneral m ortg a g e Interest gu ar b y C anadian P a c .F
1,000
325 ,000
32 1891
H a n c o c k & Cal con s m tge g o ld red a t 105 assu m ed .
100 e 6 ,00 0 ,0 0 0
M in n eap olis & St L o u is — C o m m o n s t o c k . ..................Ce
100 f 4 ,0 0 0 .0 0 0
P referred s to c k (V 70, p 1150) 5 % n o n -c u m -------Ce
500 &c
950,000
F irst M M errlam J u n ctio n to A lb e r t L e a , g o l d .F .c *
81 1877
1,000
636,000
M ortg a ge o n S ou th w E x t g o ld ($1 2 ,0 0 0 p m ) — C e.c*
53 1880
1,000
1,38 2 ,0 0 0
P a cific ex te n s io n first m ortg a g e g o ld ............... . .C e .c *
92 1881
1,000
5 ,2 8 2 ,0 0 0
1894
F irst con sol M $5,282,000 g ( V . 5 0 , p . l l 4 5 ) . C c . c ‘ &r
1,000 11.87 0 ,0 0 0
F irst & ref M $25 ,000 ,00 0 g o ld ($1 8 ,0 0 0 p m ) ____ Ce
632 1899
5 ,0 0 0 ,0 0 0
1906
G old n otes $5 ,0 0 0 ,0 0 0 sec b y c o ll red p a r sln ce’ 0 8 -C e
1,000
See t e x t
1906
M inn D a k & P 1st M $ 5 0 ,0 0 0 ,0 0 0 g red 1 0 5 -C e .c * & r
600 ,000
Car tr ser A g d u e $60 ,000 y ’l y ( V 8 8 ,p . 1373) P e P .c *
1909
a E x clu s iv e o f $95 2,00 0 h eld b y sinking fu n d ,
b $1 0.0 0 0 a d d it io n a l In sin k in g fu n d .
20,000
R a te
%
514
4 g & 5g
4 g
5 g
See t e x t
5 in 1009
7 g
7 g
6 g
5 g
4 g
5 g
4 g
5 g
c O f w h lc
J
J
J
J
J
J
J
J
A
J
.1
J
J
fc
fc
fc
■1
&
fc
&
J
D
D
fc
fc
fc
fc
fc
fc
<)
M
N
S
M
F
A
&
F
A
O
A
&
h $16,81
B on d s— P r in c i
p a l. W h en D u e
S to c k s — L a s t
D iv id e n d
May 1 1952
Jan 1 1940
Mch 11931
Mch 11931
Sept 1 1909
1959
Nov 11939
Sept 1 1951
July 10 1957
To June 1 1910
Feb 1 1910
Apr 1 1929
Mch 1 190tf 1 H
July 1909
Dec 1 1089
Dec 1 1989
Nov 1 1911
June 1 1910
Jan 1 1954
J ly 1909 5%
O ffic e . 119 S 4th S t. Phlla
44 W a ll S t, N ew Y o r k
A ll o w n e d b y C a n adian P
44 W a ll S t, N ew Y o r k
O ffice, 25 B r o a d St
do
do
do
do
do
. do
do
do
do
do
do
do
do
do
do
do
Pen n C o fo r In s , & c , Phil
4 ,300 held b y N Y C & H
1 1931
1 1951
1 1931
1 1910
1 1911
1 1956
$ 1 0 ,4 1 6 ,0 0 0 p r e f. a n d $ 2 0 ,8 3 2 ,0 0 0 c o m . s to c k ,
V. 88, p. 749, 823; V.J85,
p . 160, 722. 793, 1646; V . 8 7 , p . 677.
D I V I D E N D S .—
1903.
1904. 1905. 1906. 1907.
1908.
1909.
P referred (p e r c e n t ) . ) 7
7
7
7
7
7
A p r ..3 W
C o m m o n (p e r c e n t ) -J 2
4
4
4
4
6
A p r ., 3
B O N D S .— Can. P a c . gu aran tees b y e n d o rs e m e n t 4 % ln t. o n all the b o n d s
assen tin g to a r e d u c tio n o f ln t. t o 4 % . (S ec V . 50, p . 784 ; V . 51, p . 239 .)
A b o u t o n e -h a lf M in n. & P a c. b o n d s a n d p r a c tic a lly all o th e r issues a ssen ted .
A b s tra ct o f M i n n e a p o l i s S a u lt S te . M a r i e & A t l a n t i c m tg e . in V . 4 5 , p .
243. T h e c o n s o l, m ortg a g e o f 1888, a b s tr a c t V . 4 7 , p . 142, w as fo r $ 2 1 ,
0 0 0 ,0 0 0 o n 800 m iles (s u fficie n t o f this re se rve d t o retire p rior bon d s) an d f o r
$20 ,000 per m ile o n all a d d itio n s .
V . 73, p . 185; V . 7 8 , p . 820; V . 79, p .
1332; V . 8 0 , p . 651; V . 8 7 , p. 1011, 1664.
A s t o s e co n d 4S, see V . 6 8 , p .
669 , 771, 977; V . 71, p . 645; V . 8 5 , p . 1646.
L A T E S T E A R N I N G S .— 1 1 9 0 8 -0 9 -.G r o s s , $ 1 1 ,5 3 6 ,6 7 3 ; n e t, $ 5 ,0 3 3 ,5 7 2
11 m o s ., J u ly 1 to M ay 3 1 ./1 9 0 7 - 0 8 - .G r o s s , 10,5 8 9 ,1 0 4 ; n et, 4 ,0 1 6 ,8 3 0
F o r 3 m o s. en d in g M ch . 31 1909, n e t, $ 9 1 7 ,2 2 5 , a g st. $725,831 In 1908;
ta x e s , $17 9,29 2; o th e r in c o m e , $86 ,0 1 5 ; ln t. a n d ren ts, $58 6,02 7; Im p r o v e
m en ts, $10 0,00 0; b a l., s u r ., $13 7,92 1.
R E P O R T .— R e p o r t f o r y e a r e n d in g J u n e 30 1908 w as In V . 8 7 , p . 808‘.
Y ear—
G ross.
N e t I n c . I n i . . t a x e s , & c . E q u ip '.,& c . B a l . ,s u r .
$5 ,0 6 3 ,0 0 4 $ 3 ,0 6 2 ,1 3 5
$ 35 0,00 0 $ 1 ,6 5 0 ,8 6 9
1908 .......... ......... $11 ,5 0 9 ,8 5 7
1907
............... 12,892,079
5 ,5 1 0 ,6 0 7 2 ,9 0 1 ,9 2 1 80 0 ,0 0 0
1 ,8 0 8 ,6 8 6
N e t In com e In 1907-08 Inclu des $ 53 0,57 6 profits fr o m th e sale o f r e a l
e state. F r o m surplus as a b o v e w ere p a id d iv id e n d s as fo llo w s : 7 % on
p r e f., $488,743 in 1907-08 a n d $ 48 4,68 7 In 190 6-0 7, a n d in 1907-08 on
c o m m o n , 5 % ($ 6 9 3 ,0 1 5 ), a gain st 4 % ($ 5 54,012) in 190 6-0 7, le a v in g surplus
o f $469,111 in 1907-08, a g st. $ 7 6 9 ,9 8 7 .— (V . 8 8 , p . 749, 823 , 1373, 1500.)
MINNESOTA TRANSFER RY.— U n io n ro a d o w n in g 13.54 m iles, e x
ten d in g fro m J un ction w ith C h ic. M il. & S t. P a u l a t M errlam P a rk t o F re d le y (w ith s to c k y a rd s, & c .); side tra ck s, 45.7 2 m iles; t o ta l, 5 9.26 m iles.
V.
67, p. 956. S to c k , $70 ,0 0 0 , e q u a lly o w n e d b y C h ic. M tlw . <5c S t. P a u l, N o r.
P a c ., C h ic. S t. Paul M inn. & O m a h a, M in n. & S t. L o u is , W isc o n s in C e n t..
C h ic. B u rl. & Q u in cy , G reat N o rth ., C h ic. G t. W e s t ., M in n. S t. P a u l <fc
Sau lt S te. M arie a n d C h ic. R o c k Isla nd & P a cific.
A d d itio n a l b o n d s can be Issued fo r p r o p e r ty a n d Im p ro ve m e n ts as re
q u ire d . P rin cip al o n ly Is p a y a b le In g o ld .
M tg e . tru ste e , N o rth w e ste rn
T ru s t C o ., S t. P a u l, M in n .— (V . 66, p . 1238; V . 67, p . 956.)
MISSISSIPPI ARKANSAS & WESTERN RY.— O w ns fro m a p o in t In
D rew C o u n ty , A r k ., t o G aines L a n d in g , o n the M ississippi R iv e r In C h icot
C o u n ty , A r k ., 22 m iles. S to c k a u th o r iz e d , $22 0,00 0 Y e a r e n d in g Ju n e 30
1904, gross, $25 ,3 8 9 . P re s ., A . P . B liss, S ag in a w , M ich .; S e c. a n d G e n .
M g r., A . F . C o o k , L ittle R o c k , A r k .— (V . 7 5 , p. 442 .)
MISSISSIPPI CENTRAL RR.— O w ns fro m a p o in t 14 m iles s o u th o f
H a ttie sb u rg , M iss., t o N a tch e z , 164 m iles, In clu din g th e fo rm e r N a tch e z &
E a stern, N a tch e z , M iss., t o B r o o k h a v e n , 66 m iles, tak en o v e r b y co n s o li
d a tio n In Ju n e 1909. E x te n sio n p r o p o s e d t o G u lf o f M e x ico . S to c k a u
th o riz e d , $5,0 0 0 ,0 0 0 ; o u tsta n d in g J u ly 1 1909, $ 3 ,9 4 0 ,0 0 0 .
D iv id e n d s o f
6 % y e a r ly p aid t o O c t . 1 1907; n on e sin ce t o J u ly 1909.
B o n d s .— 1st M . b o n d s d a te d J u ly 1 190 9, lim ited to 5 1 0 ,0 0 0 ,0 0 0 , are Issu
ab le a t $25 ,000 p . m .: th e y are s u b je c t t o call b y lo t a t 110 fo r y e a r ly sin k in g
fu n d o f $300 p . m . o f ro a d c o v e r e d , b e g in n in g J u ly 1 1912: also as an e n tire
Issue a t sam e p rice . T h e y are g u a ra n te e d , p . & L , b y U . S. L u m b e r C o .
V . 88, p . 1561.
E A R N I N G S .— 11 m o s ., 1 190 8-0 9______ G ross, $59 8,30 8: n e t. $ 20 4,95 9
J u ly 1 t o M ay 3 1 .
J19 0 7 -0 8 ______ G ross,
441 ,7 8 2 ; n e t,
137 ,907
Y e a r e n d in g Jun e 30 1909 (June e s tim a te d , 80 o f th e 164 m iles b e in g o n ly
p a r tly o p e r a t e d ), gross. $69 8,38 3; n et, $ 27 3,87 2; b e tte rm e n ts, $2 ,0 5 0 ; ta x e s ,
5 13 ,573 ; net fo r Interest ch arges, $ 25 8,24 9; a n n u al in terest ch arge o n $ 4 ,
100 ,000 b o n d s is $ 20 5,00 0.
Y ear en d in g Ju n e 30 1908 (84 m ile s), gross,
$47 7,01 0: n et, 517 2,13 0; o th e r in c o m e , $ 6 7 ,7 8 5 ; b e tte rm e n ts , $4,668; ta x e s ,
$12 ,509 ; b a l. fo r ln t ., $2 2 0 ,7 3 9 .
Y e a rly Interest charge on $ 4 ,1 0 0 ,0 0 0 new
b o n d s w ill b e $20 5,00 0.
P re s., F . L . P e c k ; T r e a s ., J o h n T . P o rte r; S e c .,
G . F . R oy ce.
O ffic e , S cra n to n , P a .— ( V . 8 6 , p . 1101, 1344; V .8 8 ,p . 156 1.)
MISSOURI & ILLINOIS BRIDGE & BELT RR.— H as b rid ge 2,1 0 0 fe et
lo n g across the M ississippi R iv e r a t A lt o n , III.: also 2 m iles o f r o a d . O w n ed
b y 10 o f the 14 p r o p rie ta ry road s o f t h e T erm in a l R R . A ssocia tion o f S t.
L ou is, v iz .: C leve. Cine. C h ic. & S t. L . , L o u isville & N a sh ville, S t .L . Iron
M tn. & S o u th ., B a ft. & O h io , M issouri P a c ., W a b a s h , C h ic. R o c k Isla n d &
P a c ., St. L . & San F ra n ., M o. K a n . & T e x . an d S t. L . V a n d a lla & Terre
H au te (P e n n . R R . s y s t e m ). I n c o r p o r a t e d In A u g . 1904 as s u cce sso r o f th e
S t. Clair M adison & S t. L ou is B e lt R R .
V . 79, p. 1642,
. S to c k , $ 2 ,
5 00 ,000 ; o u ts ta n d in g , $11 0,00 0.
F o r y e a r e n d in g Ju n e 30 1908, g ro ss.
$ 14 j'247; n e t a fte r ta x e s, $11 0,03 8; b o n d in te re st, $ 61 ,940 ; b a l., s u r., $ 4 8 ,
098. In 1906-07, gross, $16 7,75 1; n e t, $ 11 2,01 9.
P re s., H e n r y M iller;
T r e a s ., F . H . H a m ilto n ; S e c ., W . F . B en d er, L in c o ln T r u s t B ld g ., S t. L o u is .
— (V . 8 8 , p . 1128.)
MISSOURI KANSAS & TEXAS RY.— R O A D .— O perates a line w ith
north ern term in als a t S t. L ou is, K ansas C ity , J u n ctio n C ity a n d H a n n ib a l,
M o ., e x te n d in g s o u th e r ly across the In d ia n T e r r ito r y a n d th e T e x a s c o t to n
b elt to tid e w a te r a t G a lv e sto n , o n the G u lf o f M e x ico , a n d t o San A n to n io .
T e x ., an d S h re v e p o rt, L a ., w ith b ra n ch e s .
(* S e c this c o m p a n y .)
“ o a d‘ O
“ w n ed —
M ile s .
- p e r a te d-— N
- o t O w n ed —
O
M ile s
R
681
2
Missouri Kan. & Tex. Ry.—
St. Louis to Red River, Tex.
Hannlbal to Franklin Jet----Branches to Paola and Par
sons, Kan.; Oklahoma City
and Guthrie, O. T.,andWybarkand Atoka, Okla., &c.
Mo. Kan & T. Ry. of Texas—
Red River to Houston, Tex. _
Deni on to Henrietta_______
Other branches......................
Total owned.
Wichita Falls Ry.....................
629 Denison Bonham & N. O. RR.
104 Dal. Cleb. & Southwestern___
Dewey, I. T .f to Bartlesville__
Austin, Tex., terminals_______
O p e ra te d J o i n t l y —
921 St. Louis to Texas Junction__
Kansas City to Paola.................
548 Whitesboro to Ft. Worth...........
112 Iola to Plqua, Kansas_________
476 Galveston Houston & Hend__
Austin to San Marcos_________
-2,790|
Total operated July 1 19
*18
*24
*10
4
2
24
43
71
7
*50
29
-.3,072
RAILWAY STOCKS AND BONDS.
h()
IN T E R E S T
K A1LU O A D S
M ile s
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n otes
o n fir s t p a g e o f ta b les.
D a te
of
of
R oad
B onds
S iz e , o r
Par
V a lu e
Minn St Paul & S Ste /Marie— C om s to c k $ 2 8 ,0 0 0 ,0 0 0 -
P referred s to c k 7 % n o n -c u m , to be $ 1 4 ,0 0 0 .0 0 0 ----W isco n s in C en tral leased line ctfs $12 ,5 0 0 ,0 0 0 a u th
M inn S au lt Ste M arie & A tla n tic 1st M g o l d - .C e .c *
M in n ea p olis A P a cific llrst m o r tg a g e ---------------C e.c*
- v C ons m ortg a g e g old lnt gu a r (end) see t e x t . - . C e . c *
S e c o n d m o rtg a g e $ 5 ,0 0 0 ,0 0 0 gold lnt g u a r a n te e d .C e
Car tru sts M ch 31 1909, due $90 ,000 s e m i-a n n u a lly .
M in n esota T r a n sfe r — First m tge ($914,000 are 4 s ) . . - c
/M ississippi A rk a n sa s & W e s te rn — First m tge g o ld -A C
M iss C e n t— 1st M $ 1 0 ,000 ,00 0 g gu red (te x t) - _ Sxc*
M o& III Br& B elt— St C M & St L B 1st M red g -S S t .c *
C on solid a ted m ortg age $ 2 ,0 0 0 ,0 0 0 a u th o rize d g o l d .
Alissouri K a n sa s & T e x a s — C o m m o n s t o c k - - .......... .
P referred s to c k 4 % n o n -c u m u la tlv e ______________
F irst m ortg a ge g o ld ------------------------------------------------- Ce
S econ d m ortg a g e g o ld ...................
Me
F irst e x te n s io n m ortg age gold $ 3 ,2 5 4 ,0 0 0 _____C e.c*
St L ou is D iv ision first refu n d in g m o r tg a g e -------F.c
M issouri K ansas A E a stern 1st M g o ld a s s u m c d -.C c
S econ d m ortg age g u a ra n te e d , be in g r e tir e d _____
Sh Sh & So 1st M ($20,000 p m ) g o ld a s s u m e d -C e .c
K an sas C ity & P a cific 1st M g o ld a ssu m ed -------Cec
M K A O kla 1st M $ 5 ,468,000 g o ld a s s u m e d -- -C e .c
T e x a s A O kla 1st M $ 2 ,3 4 7 ,0 0 0 g o ld a s s u m e d -C e .c
F irst an d refu n din g M $4 0 ,0 0 0 ,0 0 0 g o ld (see t e x t ) . F
G eneral m tge $ 20 ,000 ,00 0 g o ld s ln k ’g fu n d red N .c*
S W C A Im p 1st M assum ed sink fu n d call at 1 2 5 . F
D allas A W a c o 1st M $20 ,000 p m g g u a r p A l .C e .c
M K & T o f T e x a s 1st M $20 ,000 p m _ C e .c * l G uar pr
B oon v llle B ridge 1st M g o ld sink f d . C e , c * / A Inter.
Missouri & N orth Ark— A lle g h e n y Im p t n otes g red..
Mo Okla & Gulf R y — 1st M $10 ,0 0 0 ,0 0 0 g red t e x t SSc*
Missouri Pacific— S tock ($ 1 0 0 ,0 0 0 ,0 0 0 au th orized ) —
P a d He R R o f M issouri 1st M e x t In 1888 g o l d — Me
S econ d m tge e x t In 1801 In gold St L to K C - . c *
First m tge St L ou is real estate e x t In 1892 g o l d - O f w h ich held In treasu ry
Jan .
1909:
405
286
2.420
2.420
1886
1886
1888
1899
1886
1902
1909
1901
1904
22
164
1,601
1,601
164
162
162
202
130
277
117
595
3,043
'6 7
225
111.3
283
283
e $ 1 6 4 ,0 0 0
1890
1890
1894
1901
1892
1892
1893
1890
1902
1903
1904
1906
1889
1890
1892
1901
1906
1904
1868
1871
1872
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 A c
1,000
1,000
100
100
500 A c
500 A c
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 A c
100
1,000
1,000
500 A c
$9,027,081
$6,1 6 3 ,3 1 9
244 ,5 9 2 )
177,140
1 3 6 ,8 3 0 /
D e c. $2,863,762
$9,204,221
4 ,5 2 4 ,8 3 9
D e c. $ 2 ,659,480
In c.
145,789
In c.
31,433
In c .
28,907
4 78 ,499
520,000
518,572
In c.
In c.
204 ,282
27,872
B a la n ce, s u r p lu s _____________
$26 8,83 0
$3,162,311
$2,893,481
O ld B a s i s —
1906-07.
1 90 5-0 6.
1004-05.
1903-04.
A vera ge m iles o p e r a te d 3,072
3,043
2,884
G ross earnings ................. $20 ,1 8 3 ,9 5 9 $ 2 1 ,1 5 9 ,1 4 5 $ 20 ,041 ,09 5 $ 1 7 ,760 ,59 5
N et (a fter t a x e s ) _______
8 ,5 0 8 ,5 0 9
5 ,7 4 4 ,6 0 0
5 ,1 0 3 ,3 7 5
4 ,7 6 8 ,8 8 5
O F F I C E R S .— P r e s ., A d ria n H . .Tollnc, N ew Y o r k ; V .- P . an d G en. M gr.,
A . A . A llen , S t. L ou is; V .- P . an d T r e a s ., C . G . H e d g e , N ew Y o rk ; V .- P .,
C . H alle, S t. L ou is: S e c ., C. N , W h ite h e a d , 49 W a ll S t.
D irectors— A d rian H . J o lln e , H e n r y W . P o o r , Chas. G . H ed g e , Jam es
B row n P o tte r , Jam es N . W a lla ce , J. G . .M etcalfe a n d H u gh J, G ra n t, N ew
Y o r k : A . A . A llen , C. H alle, J am es H a g crm a n a n d R . W . M aguire, S t. L ouis;
M o .: B. P. M cD on a ld , A lfre d J. P o o r , E . II. S te v e n s , K ansas; II. J. D e
M arez O y cn s , A m s te r d a m , H o lla n d ; an d A lfr e d W . S m lth ers, L o n d o n ,
E n g .— (V . 8 8 , p. 101, 205; V . 89, p . 42.)
MISSOURI & NORTH ARKANSAS R R .— O p erates fro m J o p lin , M o ., to
L eslie, A r k ., 182>$ m iles, o f w h ich N e o s h o , M o ., to J o p lin , 19 m iles, and
S ellg m a n , A r k ., to W oodrufT, 9 m iles, are tra ck a g e .
E x te n sio n fro m L es
lie to H elen a , A r k ., 179 m iles, o f w hich 96 m iles op e ra te d O ct. 1908 an d
rem ain der a b o u t com p le te d Ju n e 1909. V . 8 6 , p . 168. S u ccessor, per plan
V.
, p .5 6 9 , 1269: V . 83. p. 39, o f S t. L ou is A N o rth Arkansas, fort c lo s e d .
S tock a u th o riz e d , $25 ,000 per m ile.
In A u g . 1906 a m o rtg a ge w as filed
to secure an Issue o f $ 11 ,500 ,00 0 50-year 4 % g o ld b o n d s (S t. L ou is U n ion
T ru s t C o ., trustee) Issuable at $25,000 per m ile. E n tire s to c k and b o n d s
arc pled ged to secure $6,0 0 0 ,0 0 0 5-year 5 % g o ld n otes o f the A llegh en y
Im p r o v e m e n t C o ., due O ct. 1 1911, bu t red eem able on a n y Interest d a y
Interest p a y a b le A . & O. at St. L o u is U nion T ru s t C o ., trustee. V . 85, p . 0 9 .
O u tsta n d in g M ay 26 1909, $7,6 8 9 ,5 0 0 e a ch o f s t o c k a n d b o n d s.
82
OR D IV ID E N D S .
W h ere P a y a b le, an d b y
W hom .
W h en
P a u a b le .
6 In 1908
S ec text
7 In 1908
See te x t
4
1 0 .861.300
4 g
8 .2 0 4 .0 0 0
4 (5)
300 .000
4 4 .8 3 1 .0 0 0
4 g
4 g
3 .5 0 0 .0 0 0
5
1.5 5 1 .0 0 0
4 & 5
1.8 1 8 .0 0 0
220 .000
5 g
4 ,1 0 0 ,0 0 0
5 g
7 58 ,500
4 g
790 .000
4 g
6 3 .3 0 0 .3 0 0
4000
In 1908 M
1 3 .0 0 0 .
J
4 0 .0 0 0 .
000 4 g
2 0 .0 0 0 .
000 4 g
3 .2 5 4 .0 0 0
5 g
1 .9 2 2 .0 0 0
4 g
4 .0 0 0 ,0 0 0
5 g
60,000
5 g
1.6 8 9 .0 0 0
5 g
4 g
2 .5 0 0 .0 0 0
5 .4 6 8 .0 0 0
5 g
2 .3 4 7 .0 0 0
5 g
9 .9 9 2 .0 0 0
4 g
13.1 7 0 .0 0 0
4H gJ
6
968 .000
J
1 .3 4 0 .0 0 0
5 g
4 .5 0 5 .0 0 0
5 g
1,0 0 0 ,0 0 0
4 g
6 ,0 0 0 ,0 0 0
5 g
4 ,0 0 0 ,0 0 0
5 g
7 0 ,7 6 4 ,2 2 5 See text
7 ,0 0 0 ,0 0 0
4 g
2 .5 7 3 .0 0 0
5 g
800 ,0 0 0
5 g
B on d s— P r in c i
p a l, W h e n D u e
S t o c k s — L a st
D iv id e n d
O M inn o ffic e ; ch e ck s m a il'd A p r 15 1909 3
A p r 15 1909 3 H
O
do
do
'\pr 1 2008
Bank o f M on treal, N Y Jan 1 1926
Jan 1 1036
do
do
J u ly 1 1938— '
— do
do
Jan 1 1949
do
do
do
do
1st N at B k ,S t P a u l,M in n A u g 1 1016
A m e r T r A S a v B k , C h ic Jan 1 1922
& J H a r v e y F isk & S on s, N Y July 1 1949
Jan 1 1951
&
J
& J S t L ou is U n ion T ru st Co Jan 1 1951
A
A
& O
A
A
A
A
A
A
A
A
A
A
A
A
A
A
A
M a y 10 1909 2 %
Ju n e 1 1990
S t, N
Jun e 1 1990
do
N o v 1 1944
do
A pr 12001
do
A p r 1 1942
do
A p r 1 1942
do
June 1 1943
do
A u g 1 1990
do
M ay 1 1942
do
Sept 1 1943
do
S ept 1 2004
do
Jan 1 1936
do
J u ly 1 1929
do
N o v 1 1940
do
S t, N Y S e p t 1 1942
N o v 1 1951
do
O ct 1 1911
N ew Y o r k and St L o u is N o v 1 1944
195 B ro a d w a y .N e w Y o r k Jan 30 1908 2 H
M ercantile T ru st C o , N Y A u g 1 1938
Ju ly 1 1038
do
do
M ay 1 1 9 3 8
do
do
N N ew Y o r k
D O ffic e , 49 W all
do
A
do
N
O
do
O
do
O
do
D
do
do
A
N
do
do
do
do
do
do
N
O ffic e , 49 W a ll
do
f $ 3 9 ,0 0 0 .
4 000,000
$ 6,544,741
4 ,6 7 0 ,6 2 8
I n t . a n d s in k , fu n d on b o n d s ___
31,433
l n t . on eq u ip m e n t n o te s________
507,406
R en ta ls _________________________
520,000
D iv id en d s o n p ref. s to c k , 4 % . .
546,444
A d d ition s an d b e t t e r m e n ts ____
R a le
%
A m ount
O u ts ta n d in g
100
O R G A N I Z A T I O N , A c .— R e o r g . In 1890 w ith o u t fo re clo su re , V .4 9 ,p ,7 1 0 .
L A N D G R A N T .— L a n d gran t In fo rm e r In d ia n T e r r ito r y (n ow O k la
h o m a ), 3 ,1 1 0 ,4 0 0 acres, s u b je c t to In d ia n title . See V . 79, p. 903 , 1281;
V . 8 1 , p. 668, 1042; c om p a re 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; V . 85, p . 736.
S T O C K .— C om m on Increased In 1904 b y $ 7 ,2 0 0 ,0 0 0 to $ 6 3 ,3 0 0 ,3 0 0 ;
preferred Is $ 1 3 ,000 ,00 0 4 % n o n -c u m u la tlv e .
P a r o f shares, $100.
D I V I D E N D S .— On p r e f., 1906 to M a y 1909, 4 % y e a r ly (M . A N .) .
B O N D S .— M . K . A T . 1st an d 2d m tg e s. o f 1890 (a b stra cts In V . 51, p .
495) c o v e r line fr o m H a n n ib a l. M o ., to a p o in t 80 m . fro m H o u s to n , T e x .,
941 tn. (e x c e p t 71 m . o f t r a c k a g e ), an d s u n d ry bran ch es, the to ta l m ileage
m ortg a g ed b ein g 1,601 m .. In clu d in g the S herm an S h re v e p o rt A S o ., but
see b elow . T h ese m tges. also c o v e r the rig h t to the land gran t.
M i s s o u r i K a n s a s A E a s te r n b o n d s w ere assum ed In Jun e 1806.
(V . 63,
p. 30.)
$ 4 ,6 6 6 ,0 0 0 S t. L ou is d lv . 1st r e fg . b o n d s reserved fo r retirem en t
o f b o th Issues; balan ce fo r e x t . a n d lm p ts .
V . 72, p. 1034: V . 75, p . 608.
T h e S h e r m a n S h r e v e p o r t & S o u th e r n m o rtg a ge Is fo r $ 6 ,000,000 at $20 ,000
p er m ile; Issued, $ 3 ,6 8 9 ,0 0 0 , o f w h ich $ 2 ,0 0 0 ,0 0 0 p ledged u nd er M . K . A
T . m tg e. o f 1890. T h e b o n d s, fo rm e r ly gu a ra n te e d , were assum ed u p o n
co n s o lid a tio n In M ay 1901.
V . 72, p . 1034, 1115.
T h e M issouri K ansas A O k la h o m a an d T e x a s A O k la h om a b o n d s, Issued
a t $20 ,000 p er m ile, g u a ra n te e d , h a ve been a ssu m ed .
V . 74, p . 1038;
V . 75, p. 185, 733; V . 77, p. 252; V . 78, p . 4 8 ; V . 79, p. 968.
O f the 1st an d refu n d in g 4s o f 1904 ($ 4 0 ,0 0 0 ,0 0 0 a u th o rize d Issue), $12 ,
0 3 7 ,0 0 0 Is reserved to retire d iv isio n a l m ortg a ges at or before m a tu rity;
ba la n ce unissued ($ 1 7 ,9 7 1 ,0 0 0 ) fo r fu tu re p u rposes. T h e y are p a y a b le a t
th e o p tio n o f the h older In sterlin g, m arks o r fra n cs. T h e y are a se co n d
Hen on 558 m iles o f road a n d on the llrst m tg e . b o n d s o f D enison A W ash ita
V a lley R y ., 37 m iles, an d a first lien o n term inals an d e q u ip m e n t o f esti
m a te d valu e o f $ 2 4 ,3 8 0 ,0 0 0 . V . 79, p . 968, 1281, 1332; V . 80, p . 222,
712: V . 81, p. 613; V . 82, p. 987, 1497; V . 86, p. 1 101; V . 88, p. 158, 295.
O f the $ 2 0 ,000 ,00 0 gen . M. 4 1 4 % sin k . fd . 3 0 -y e a r gold b o n d s, s to c k h o ld
ers w ere In 1906 olTered the rig h t to su b scrib e fo r $ 10 ,000 ,00 0 (u n derw ritten )
at $875 per $1,000 b o n d , $ ,
e q u ip , trusts being retired o u t o f p ro
ceed s, the b on d s b ein g a lien th ereon s u b je c t to the llrst and re fu n d in g m tg e .
In Ja n . 1909 $ 3 ,1 7 0 ,0 0 0 w ere so ld fo r e q u ip m e n t. S in k, fu n d , 2 % o f o u t
s ta n d in g b on d s yea rly b e g in n in g J a n . 1 1911, will be used to pu rch ase or
call b on d s b y lo t a t par, b o n d s pu rch ased to be k e p t aliv e In sin kin g fu n d .
(V . 8 2 , p . 218 , 334 , 692; V . 84, p. 1551; V . 85. p . 346, 654; V .8 8 ,p .l0 1 ,1 5 8 .)
As t o M . K . A T . o f T e x a s " fir s t e x te n sio n an d gen. m t g e .” fo r $ 2 5 ,0 0 0 ,
000 , c o n te m p la te d In 1906, sec V . 8 3 , p . 435 , 562; V . 82, p. 1269.
E q u ip
m en t n otes Ju n e 30 1908, $ 1 ,7 4 6 ,1 2 4 ; e q u ip m e n t b o n d s, $18 ,803 .
G U A R A N T I E S .— T h e B o o n v llle B rid ge 4s are gu aran teed , p rin cipa l an d
Interest, an d also as t o sin k in g fu n d b e g in n in g 1911. V . 73, p . 494.
T h e M . K . A T . o f T e x a s m tg e . secures $10 ,0 0 0 ,0 0 0 o f bon d s at $20,000
p er m ile fo r exten sion s In T e x a s . T h e y are gu aran teed , prin cipa l and
in terest
See a b o v e , an d g u a ra n ty , V . 56, p . 604.
T h e S o u th io e s te r n C o a l A I m p r o v e m e n t C o . ' s b on d s are gu aran teed . M ort
g a g e ($ 1 ,0 0 0 ,0 0 0 ) cov ers the coa l in 51,0 0 0 acres in In d ian T e rrito ry ; the
c o . also ow n s 2 ,3 5 0 acres a d d itio n a l, D e n . A W a s h . R y ., 20 m ., m ines, A c .
L A T E S T E A R N I N G S .— F o r 11 m o n th s e n d in g M a y 31:
B a l . ,S u r p .
11 M o n t h s —
G ro s s .
N et.
O th . I n c .
C h a r g e s.
$738,276
$ 7 ,0 4 9 ,5 4 6
$10 6,73 9 $ 6 ,4 1 8 ,0 0 9
1 9 0 8 -0 9 _______$ 2 3 ,410 ,04 4
1,028,714
1 9 0 7 -0 8 _______ 21,5 5 3 ,5 5 6 6,5 8 2 ,2 4 3
3 4 1 ,6 8 7
5 ,895,216
A N N U A L R E P O R T .— A n nual m e e tin g llrst T h u r sd a y a fte r first M o n d a y
In A p ril.
R e p o rt 1907-08 w as give n in V 87, p . 737.
In c . or D ec.
Y e a r e n d in g J u n e 3 0 —
1008.
1907.
D e c. $ 2,900,290
G ross ea rn in g s__________________ $23 ,2 8 3 ,6 6 9 $ 2 6 ,183 ,95 9
In c.
30,528
O p era tin g exp en ses a n d t a x e s - - 17,1 2 0 ,3 5 0
17,156,878
In terest on b on d s In t r e a s u r y ..
R en ta ls a n d m iscella n eo u s..........
[VO L. L X X X IX .
F o r y e a r e n d in g Jun e 30 1908 (141 a v e r , m ile s ), gro ss, $35 5 ,2 0 2 ; n e t,
$ 7 ,459; o th e r In c., $1,971; taxes anil ren tals, $ 17 ,283 ; b a l., d e f ., $ 7,8a3.
C h airm an o f B oa rd , D . It. Fran cis; P r e s ., J o h n S cu llin ; V lc e -P r c s ., G eo. L .
S a n d s .— (V . 86, p . 857 .)
A1ISSO U RI OKLAHOMA & GULF R A I L W A Y .— O w ns an d op e r
ates 111.3 m iles o f m ain track and 11.4 m iles o f sidin gs e x te n d in g fro m U ago n e r to C alvin, O k la ., v ia M uskogee and I le n r y e tta . Coal branch 5 m iles In
len gth in I le n r y e tta coa l field at I le n r y e tt a .
E x te n sio n u n d e r c o n s tru ctio n
fro m p resen t c o u th crn term inus a t C alvin to D en ison an d S h erm a n , l e x . ,
106 m iles, to be co m p le te d a b o u t Ja n . 1910.
M ain lin e, 7 0 -lb . s te el rail;
sid in gs, 6 0 -lb . steel rail— o p e r a te d In d e p e n d e n tly . O w ns 2 ste e l girder
bridges o v e r V erdigris and A rkansas riv ers, w h ich are used as toll b rid ges.
E x te n siv e term inal p r o p e r ty a t c it y o f M u sk ogee.
S T O C K .— A u th o riz e d , $ 1 0 ,0 0 0 ,0 0 0 ; o u ts ta n d in g , $ 3 ,0 0 0 ,0 0 0 ; par, $100.
B O N D S secured b y ab so lu te 1st m tg e . o n entire p r o p e r ty n ow ow n ed
o r hereafter a cq u ire d , lim ited to $25 ,000 per m ile, to be Issued u p on c o m
p le tio n o f 5-m lle s ection s.
B on d s are s u b je c t to call at 107 and Interest
a fte r N o v . 1 1909 on 6 m os. n o tice . V. 86, p . 1043. In J u ly 1909 $ 1 ,0 0 0 ,0 0 0
h ad been s o ld , w ith o p tio n on $ 1 ,0 0 0 ,0 0 0 a d d itio n a l.
V . 88, p . 086^.
O F F I C E R S .— P re s., W m . K c n c flc k , K an sas C ity , M o .; V .- P . and
T r e a s ., W . P . D ew ar; S e c ., E . R . J on es.
G eneral o ffic e s , M u sk ogee, O k la .
— (V . 8 1 . p. 1840; V . 86, p . 1043; V . 87, p . 415; V . 8 8 , p . 686.)
(1) MISSOURI PACIFIC RY.— (.See M a p . ) — O perates an Im p orta n t s y s
tem e x te n d in g w esterly and s o u th w e s te rly fro m S t. L o u is, M o ., Including
m ain lines fro m St L ou is to O m a h a, N e b ., 494 m ., and fro m K a n . C ity to
P u e b lo , C o l., 624 m ., w ith m an y bran ch es In K an sas, A c.
T h ro u g h the S t.
L ou is Iron M t. A S ou th ern , w h ich It co n tr o ls , c o n n e c tio n Is had w ith le x a s
and the lines o f the T e x . A P a c ., In te rn a t. A G t. N o rth e rn and th e S t. L ouis
S o u th w e ste rn , the w h o le fo rm in g w h a t Is k n ow n as the " G o u ld S y stem .
L i n e s o w n ed a n d co n tr o lle d .
M i l e s . I L e a s e d l in e s , & c . ( C o n . ) .
M tie s .
39
S t. L o u is to O m a h a -------------------- 494 [O th er lin e s--------------------------------O th er m ain lin e --------------------------- 975 IT rack age to S t. J o s e p h , A c —
21
B ran ch es o w n e d ....................
1,919 1
L e a s e d l in e s , <fec.
|
---------B o o n v llle S t. L . A S o u th e rn ___
44 I T o t .M o .P a c . an d b ra n ch lln e s .3 ,4 9 2
A ls o o w n s all capital s to c k o f C entral B ran ch U n ion P a cific, A c ., 388
m iles; S t. L ou is Iron M ountain A Sou th ern and leased lines, 2,5 9 9 m iles.
G rand to ta l M issouri P a cific m ileage J u ly 30 1908, 6,4 7 7 m iles.
T h e va rio u s su bsid iary c o m p a n ie s (o th e r than the Iron M ountain) on
M ay 29 1909 en tered in to a rticles o f co n s o lid a tio n . T h e s to ck h o ld e rs o f
th e M issouri Pacific will v o t e o n the m a tte r o n A u g . 6 1909; V . 8 8 , p . 1438.
E a rly In 1901 a large Interest w as acq u ire d In the D e n v e r A R io G ra n d e.
S T O C K .— T h e a m o u n t o u ts ta n d in g o n D ec. 31 1900 w as $
,432,150a 1901; since to $ 7 9 ,7 6 4 ,2 2 5 .
V . 85, p . 1640.
Increased to $76 ,402 ,87 5 In
D IV S . ’ 82 ’ 83 to '8 7 ’ 88 ’ 89 ’ 90 ’ 91 ’ 92 to ’ 00 ’ 01 ’ 02 to ’ 07
1908
P e r c t .) 6 J T 7 y ’ ly .
5M 4
4
3
N one.
2J4 5 y ly- J a n .2 H s tk .
In J u ly 1908 and Jan . 1909 the d iv id e n d was o m itte d . ' V'.
V. 8
f 6 , p. 1410.
50
B O N D S .— T h e c o n s o lid a te d m o rtg a g e Is fo r $ 3 0 ,0 0 0 ,0 0 0 - trustees Joh n !•.
D illo n and E d w ard D . A d a m s — the balan ce unissued Is In trust to redeem
p rio r b o n d s due It d eem ed b e st. A b s tr a c t In V . 47, p . 287.
T h e c o lla te r a l tru st b o n d s d u e 1917 (U n io n T ru st C o m p a n y o f N ew Y o r k ,
trustee) are secured b y m o rtg age b o n d s o f new ro a d s a t $ i ,uuu o r s u u i u o
p er m ile; these e m b ra cin g the line fro m F o r t S c o t t , Iva n ., to 1 u e b io , C o lo .,
A c.
F o r securities p le d g e d , A c ., sec V . 46, p . 678.
T h e 4s o f 1905 ($ 5 0 ,0 0 0 ,0 0 0 a u th orized Issue) are secured b y an equal
a m o u n t at par o f Iron M ou n tain s t o c k , the d e p o site d sto*ck to be never
less th an a m a jo rity o f the o u ts ta n d in g a m o u n t.
1 lie rem ain in g $ 1 7 .
000 ,000 Is reserved fo r e x te n s io n s . Im p ro v e m e n ts and b e tte rm e n ts.
C om
pare V . 80. p. 712: V . 86, j). 1344.
In J u ly 1909 arrangem ents w ere p r a c tic a lly c o m p le te d fo r ;a new b o n d 1ssu c to p ro v id e fo r present an d fu tu re needs.
V.
, p . - J ; v . 89, p .
.
2
88
8
104
' K A N S A S A C O L O R A D O P A C I F I C R Y . — T h e first refu n din g m ort
gage % gold b o n d s, lim ited to 5 5 0 ,0 0 0 ,0 0 0 , to be Issued as follow s:
$1 9 ,6 5 6 ,0 0 0 t o reim burse the M issouri P a cific R y . fo r a d v a n ce s.
O f this
am ount $ ,
w as d e p o s ite d w ith the E q u ita b le I rust
C o. of N . Y . , as trustee fo r the $ 6 ,0 0 0 ,0 0 0 M issouri P a cific
-year collateral trust c o n v e r tib le % g o ld notes w hich w ere
called fo r p a y m e n t F e b . 10 1909.
O f the n otes $487,000 had
been c o n v e rte d Into first r e fu n d in g b o n d s In J u ly 1908.
23,5 3 2 ,0 0 0 to retire u n d erlyin g b o n d s o f co n s titu e n t co s. at present held
b y trustee o f M o. P a cific R y . co ll, trust 5s o f 1917 and
.
6 ,8 1 2 ,0 0 0 reserved fo r the pu rpose o f c o n s tr u c tin g o r a cqu irin g e xten sion
o r branches o r fo r Im p ro v e m e n t o f the presen t p ro p e rty .
T h e first refu nding b on d s are secured b y a m o rtg a g e that Is a direct lien
o n th e 1,450 miles o f railroad sh ow n on the a d jo in in g m ap, w h ich co n stitu te
an im p o rta n t part o f the M issouri P a cific s y s te m , s u b je c t to prior liens at
th e rate o f $15,544 per m ile, for the refu n din g o f w h ich p rovision Is m ade
u n d er the m ortg age. T h e a u th orized Issue Is lim ited to $30,000 per m ile,
in clu d in g said prior liens. T h e y are a d d itio n a lly secu red b y the en d orse
m e n t o f the gu a ra n ty o f M issouri P a cific o f b o th prin cipa l and Interest.
T h e K ansas A C olorado P a cific R y . w as organ ized in 1889 b y the c o n s o li
d a tio n o f the variou s co r p o r a tio n s o w n in g the railroads th at co n n e c t, as
sh o w n b y the m ap, the M issouri P a cific R y ., the S t. L ou is Iron M ountain A
S o u th e rn R y . and the W a b a sh R R .. w ith the D e n ve r A R io G rande R R .
and th rou gh that sy ste m , via the W estern P a cific R R ., w ill form part o f
th e th ro u gh line from P ittsb u rg h , P a ., an d C h icago, 111., to San Francisco'.
See V .
, p . 229, 286; V .
, p . 452.
G E N E R A L F IN A N C E S — T h e c o m p a n y on Ju n o 30 1908 ow n ed $ .
W abash R R . p re f. s to c k and the St. L ou is A Iro n M tn. $ 9 ,3 2 6 ,2 0 0
pref. and $2,826,200 c o m . s to c k and $ 3 ,9 1 3 ,2 0 0 first r e fu n d in g and e x t e n
sion b o n d s. See W a b a sh R R .
T h e G ou ld Interests are also b ack o f the
W estern P a cific R y ., b u ild in g b e tw e e n S alt L a k e C ity an d San F'ranclsco.
S e c V . 80, p . 1730; V . 7 9 , p. 1023.
E A R N I N G S .— 11 m o s ., 1 1 9 0 8 - 0 9 .. . G ross, $ 4 2 ,6 2 9 ,0 1 1 ; n e t, $ 11 ,612 ,03 6
J u ly 1 to M ay 31.
/1 9 0 7 - 0 8 - .- G r o s s , 40 ,9 3 1 ,5 7 2 ; n et, 11,284,143
6
12 000,000
2
6
1920
86
000,000
88
2
MOINES,
G rea t i
It L a k e
■y:=t'<j>PiUisade
/B attle/Jlountain
union tulesburj
v
GraiTi
■J l'a-K-E-C+T-V
J Park City
Alta
£> Hebcr
Stockton1
"Ottumwa'
Ft.Collins
BiMingtui
Longmont,
Kirks'
-J /
•unify.
St.Franci
« .n \ r ------$
SPRINGWIELD
DENVER
wab\jj
^Dillon_/
Eureka
PeoriuT
Keokt
’.t°Aue'>eV'
Austin
Rock-Island.
Manti
Oakle;
Green Riven
Nioche
/RicOield
S e v ie r '.Lake,
Frisco
jitchiwld'
Delta^K
ilontrostk
IlcY ille^
aNewto/
LARNEpS^
RAILWAY STOCKS AND BONDS.
/
Candelaria
iLaJunta)
ICuch&nf,«
i i y
Pioche o
dodge
Bucklj
>/w \
D
Tri“ 2®>y) '■■OjIcVin
Dural
J.
c iT Y ^ M a ■ ■ W3|
"Kingman^^
rNWAYSPRS,
Anthony
-L/iberal
Keeltb
iClar.emore'
"exline^
Amarillo'
—-o—LcMentone
^ C o lto n
Santa AnnaX
Lehigh
L
Magdalena,
Socorro
•& /Atoka
^1
PHCENIX
Globe
Clifton
Rosvrell
Ft.Thomas*
/ B rae,
PAC.
Fairbank
M ineola^^
sCisoa
\Colorado
Deming
Benson
A J ack son
TylerJJf
Dublin
_w -n rray ' ArouMej
o Tombstone
Odessa
' ATCH Ei
San Angelo
Jville^T^y®!
"Temple'VP?/,
Kerrville
Flander!
UatUesburg,
■ufkin
•igan
Trinity
Bhelps
^CoAroes
X lano,
Crispa
M AP OF T H E
(Lei and
1
Albanyc
Yuma
Tucson'
r » M S|
ICSS-l
•VMOEN
,,o&k'
"Commerce
"White/baks
Rincon
Maricopa
jY San Diego _
Round a i
s^AUSTII
■an Marcos J
lumont
San Antopi<
M ISSOURI PACIFIC R A ILW A Y
ST . LOUIS, IRON MT. & SOUTHERN R T .
and
Y oakum
Eiedras Negras
Kenedy
L eased, Operated & I ndependent L ines
;nzie
*
„Washburn
Prescott
Iceanside V
-v Escondido
\ o Foster
relational Cy.
^ai
Albuquerque
Fulton
“>6s. w The Neediest >
a
c."c>
'
Oklahoma
Mojave
OLUMBU!
-ShPttLSt% £..Z S ----\oYELLVILLC>
[inita'i
Kingfisher
sa n t a / e
irs to w ^ -^ ^
W"-‘-Hb!s
*P7\ S. VSN^UREMcSgj
p
❖ . pOplar eL,
Ciudad Juj
J u l y , 1900. |
'Springfield.
Yasquez
Ispanoh
/ otoski J mine
OBlSMARCKfSk PT.
Laredo*
:CtOJtus(Christi
GALVESTON
Meridian
88
KAILWAY STOCKS AND BONDS.
IN T E R E S T OR D IV ID E N D S
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n fir s t p a g e o f ta b le s.
Missouri Pacific— (C o n clu d e d )
-
P a c R R ,)i o tst M C a ron T i r g e u p & l (end) e x t 1893
T h ird M e x t In 1906 red 105 (V 83, p 492 , 1348)C e
M issouri P a c 1st M L e x in g to n t o S cd a lla , M o , g o ld .
C on solid a ted m o rtg a g e 5 3 0 ,0 0 0 ,0 0 0 g o l d -----------c*
G old colla tera l t r u s t--------------------------------------- U n .c* & r
F irst coll M
,
g (V 50, p 669) - - A le.c*r& r
M ortg a g e 5 5 0 .0 0 0 ,0 0 0 g red a t 102
- - -A le .x c * & r *
L er & C a n ey V al 1st M gold gu ar (V 70, p 1095) . . c *
V erd ig ris V al I n d e p e n d e n ce & W 1st M g o ld g u a r . .
K C & N W 1st M p ref " A ” g o ld Int ren t red 1 0 5 .M e
K a n sas * C ol P a c 1st ref M gold gu p & l — G .x c * & r
E q u ip A s s ’ n o b lig a tio n s 5 2 0 3,00 0 p a y S e p t 1 yea rly
do
do
Ser B g o ld 5 9 7 ,0 0 0 d u e M ch 1 y e a r ly ,
do
do
Ser C g old 528 2 ,0 0 0 Jun e 1 y e a r ly .A le
do
do
Ser D to F gold 5 1 0 3,00 0 D eo 1 yea rly
do
do
Ser G to I gold 522 0 ,0 0 0 y e a r ly ____ _
M o P a c e q u ip b on d s g 533 5 ,0 0 0 M ay 1 y r l y _ . K .c * & r
510 000,000
Mo Pac System— St Louis Iron Alt & Southern Ry—
M ile s
of
R oa d
D a te
of
B on d s
S iz e , or
Par
V a lu e
A m ount
O u ts ta n d in g
13
296
55
1,076
1,120
671
1873
5500
1876
1,000
1880
500 &c
1880
1,000
1887
1,000
1890
1,000
1905
500 &c
1886
1,000
1886
1,000
1894
500 &c
1908 1.000 &c
1902
1,000
1903
1,000
1903
1,000
...
1903
1,000
. . . 1 90 5-7
1,000
. . . ; 1906
1,000
G en con s & first gu a r m tg e (5 4 5 ,0 0 0 ,0 0 0 ) g — A le.c* 1.538 ’ 8 1 -’ 87
do
do
gold sta m p e d gu a ra n te e d p & 1— c* 1.538 ____
U n ify in g * refu nd M g o ld 5 4 0 ,0 0 0 ,0 0 0 — A lp .x c * & r 1.543 1899
R iv e r & G D lvs 1st .VI 5 5 0 ,0 0 0 ,0 0 0 g _ . M e.xc.*& r& r*
738 1903
C ar trusts K to M d u e Ju n e, S e p t an d D ec y e a r ly ___
. . . '9 5 -’ 03
Car trusts Ser X to P 5 3 5 5 ,0 0 0 o r 535 7,00 0 y e a r ly . .
___ 1003
____ ’ 0 5-'0 6
do
do
Ser R to (I, p art y e a r ly ...........................
do
do
g o ld 536 6 ,0 0 0 y e a r l y . .......... A le.c& r
. . . 1907
L ittle R oe.c Jun e 1st M gu ar p & 1 b y Iron M t .A lc .c *
2 1891
Pine B luff & W es t 1st M g u p & 1 red 10 years 105. .
44 1903
M ob ile & B irm in g h a m R R — P re f s to c k ( 5 0 0 0 , 0 0 0 ) . ..
150 1895
P r io r Hen gold 5 6 0 0 .0 0 0 --------------------------------------- C e .c
150 1895
F irst M ortg age 5 1 ,2 0 0 ,0 0 0 ---------------------------------- Ale.c
M ob ile J a c k s o n & K a n sas C ity — N ew securities to be Issued
C o m m o n s t o c k 525,000 p er m ile .....................................
P referred s to c k 6 % $ 5 ,0 0 0 ,0 0 0 (55.000 per m i l e ) ..
F irst m o r tg a g e 5 3 0 ,0 0 0 ,0 0 0 (530,000 p e r m ile )____
1,000
1,000
1,000
1.000 A c
" " V .6 6 6
1,000
1,000
1,000
1,000
100
200, 1000
200, 1000
100
100
A N N U A L R E P O R T — Fiscal y ear ends Ju n e 30
R e p o rt fo r y e a r en din g
J u n e 30 1908 In V. 8 7 , p . 1082, 1099; e d ito ria l, p . 1058
C om parisons
w ith earlier years In accurate, o w in g to ch an ges In a c c o u n tin g .
Annual
m e e tin g Is held a t S t. L ou is In M arch .
R e p o rt o f earnings o ( M issouri
P a cific S y s te m have been as b e lo w .
“ O th er In co m e ” In 1907-08 Includes:
I n t . on T e x a s & P a cific 2d m tg e . In com es, 5 82 8,38 0; W a b a sh 1st ref. A
e x t . m t g e ., 515 6,52 0; P a cific E x p ress C o ., 514 4 ,0 0 0 : D e n ve r & R io G ra n d e,
5 36 5,00 0; S t. L ou is W a tk in s A G u lf, A c.. 519 7.22 8.
1907-08.
1906-07.
1905-06.
6,479
6,375
6,276
Miles op erated , a v e r a g e . .........................
...$ 4 4 ,2 3 8 ,7 0 3 $ 4 8 ,703 ,34 3 $44,566,821
T o t a l ea rn in gs....................
16,188,272
14,284,416
N et ea rn in gs____________ ......................... 12,592,415
2 ,8 7 5 ,2 9 8
3 ,283,283
3,558,911
O th er In com e, A c _______ .........................
T o ta l net In com e_____ ......................... $ 1 5 ,467 ,71 3 $ 1 9 ,471 ,55 5 $ 1 7 ,843 ,32 7
................. $ 9 ,1 4 5 ,1 8 9
$ 9 ,060,875
$8,936,792
I n te r s t an d ren ta ls____
...............
1,644,057
1,483,949
1,457,924
T a x e s _____ ______________
1,228,628
..................
1,692,751
1,119,596
S u n d ry a c c o u n t s ________
3,890,875
1,935,210
5.836,305
D iv id e n d s ............... ............. ...........................
(5 % )
(2 X % )
R a te o f d i v i d e n d ________ .........................
(7 H % )
$3,807,228
$492,710
B a la n ce, su rp lu s________ ............. ............$1,0 5 0 ,5 0 6
P res., G eorge J. G ou ld ; S e c . an d T’r e a s ., A . H . C a lef, 195 B ’ w a y , N . Y .
D irectors— G eorge J . G o u ld , E d w in G o u ld , E d w a rd T . J e lle ry , J . J.
S lo c u m , H ow a rd G ou ld , F re d . T . G ates, F ran k J . G o u ld , K ln g d o n G ou ld ,
R . M. G a llow a y , H . B. H en son . N ew Y o rk ; C harles S . C larke, O . L . G arri
s o n , W . K . B Ix b y , S t. L o u is , M o .— (V . 8 8 , p . 1438; V . 89, p . 104.)
(2) A1ISSOURI PACIFIC SYSTEM— ST. LOUIS IRON AlOUNTAIN &
SOUTHERN R Y.— (S e e M a p . ) — O w ns S t. L ou is t o T e x a rk a n a , T e x . L in e
490 m iles; bran ch es to B elm o n t, M o ., B ird ’s P t ., M o. (C airo), C a m d en,
A r k ., H elen a , A r k ., C u shm an, A r k ., A rkansas C ity , A r k ., W a rren , A r k .,
M em phis. T e n n ., A c .; H ou sto n Central A rkansas & N orthern R y ., Me G hee,
A r k ., to A lex a n d ria , L a ., 262 m .; W h ite R iv e r b r a n c h , Illinois D ivisio n .
M em ph is H elena & L ou isian a, E ast A W e s t Illin o is R y ., 1,534 m .; total
ow n ed J u ly 1 1908, 2,286 m .
L eases L ittle R o c k J u n ctio n R R .; K ansas &
A rkansas V alley R R ., A c ., 312 m
T o ta l o p e r a te d J u ly 1 1908, 2,599 m .
O w ns 5 2 3 ,6 6 8 ,0 0 0 o f the 524 ,9 8 4 ,7 5 6 T e x a s A PacIIlc secon d s ex ch a n g e d
fo r 6 5 % In g old 4s. See “ B o n d s .”
A con tin u ou s low -g ra d e line fro m S t. L o u is to N ew O rleans b y co n n e ctio n
w ith the T e x a s A P a c. R y . a t C la y to n , L a ., w as c o m p le te d la te In 1907.
S T O C K .— S to c k a u th o r iz e d , 5 1 3 0 ,0 0 0 ,0 0 0 ; o u ts ta n d in g , 544 ,3 9 6 ,5 7 3 , o f
w h ich 544 ,3 3 6 ,6 0 0 Ju n e 30 1908 o w n e d b y M issouri P a cific . S ee b e lo w .
D I V I D E N D .— In 1899, 2 % ; 1900, 6: 1901, 6: 1902 to 1904, 10 y e a r ly ;
190 5, 7; fiscal y ea r 910 5 -0 6 , 14; 1906-07, 10; 1907-08, 5; 1908-09, 4 % .
B O N D S .— G eneral c o n s o lid a te d m o r tg a g e Is fo r '5 45,000,000. N os.
11,001 to 18,000 Inclu sive are en d orsed w ith th e M issouri P a cific g u a ra n ty o f
p rin cipa l and Interest; fo rm o f gu a ra n ty w as In V . 56, p. 650; th e y a r e a t lr s t
lien o n 1,538 m iles.
(V . 68, p . 8 5 , 233, 520: V . 78, p . 704, 1224.)
T h e g o ld 4s o f 1899 (first Issue 530 ,000 ,00 0) m a y b e Increased n o t o v e r
5 1 0 ,0 0 0 ,0 0 0 , a t 512,000 per m ile, fo r c o n s tru ctio n or a c q u isitio n and e q u ip
m e n t o f bran ch es and ex ten sio n s. T h e y are secu red b y a lien (s u b je c t o n ly
to th e general consols) on all th e railroad s, term inals an d e q u ip m e n t o f th e
c o m p a n y ow n ed a t the tim e o f th e m ak in g th e r e o f and also a first and o n ly
lien on all s to c k s an d b on d s fo rm e r ly e m b ra ce d In th e trust o f th e g o ld fu n d
ing n o te Indenture, all leased an d b ra n ch lin es, o r th eir b o n d s and s to ck s
a c q u ir e d b y t h e lo a n , and 5 2 3 ,6 6 8 ,0 0 0 T e x a s & P a cific se co n d s , fu tu re e x te n
sion s, & c.
(V . 68, p. 619; V . 70, p . 997; V . 7 4 . p . 206; V . 78, p . 704 , 1224.)
T h e R iv er A G u lf D iv isio n s 4s o f 1903 (presen t Issue 5 2 0 .000 ,00 0) w ill be
secu red b y a first lien on 677 m iles o f road b u ilt o r u n d er co n s tr u c tio n (sec
a b o v e ) and on term inal p r o p e r ty a t S t. L o u is , E ast S t. L o u is, Cairo and
T h eb es , and 8 ,0 0 0 acres o f coa l lands In Illin o is, a n d d e p o s it o f th e b on d s o f
th e U n ion R y . o f M em phis.
A d d itio n a l b o n d s m a y b e Issued up to a total
o f 5 5 0 ,000 ,00 0 a t n o t o v er 530 ,000 per m ile o f m ain line fo r new co n stru c
tion an d 515 ,000 per m ile o f se c o n d track an d bra n ch e s, b u t n o t e x ce e d in g
th e a ctu a l c o s t, and fo r a d d itio n a l term in als, e q u ip m e n t, d o u b le tracks, A c .
V . 7 6 , p . 543, 600, 1085; V . 77, p . 1875, a p p lica tio n to list, V . 77. p.
203 6, 2019; see also V . 8 5 , p . 222; V . 8 6 , p. 230; V . 8 7 , p. 167; V . 89, p . 105.
P ine B luff & W estern guaran teed 5s o f 1903, see V . 78, p . 103, 769.
E A R N I N G S .— 10 m o s .J 1 9 0 8 - 0 9 ...G r o s s , 5 1 9 ,5 7 3 ,6 3 8 ; n e t, 5 0,564,643
J u ly 1 to A p r. 30.
\ 1 9 0 7 - 0 8 . .. G ross, 1 8 ,6 9 4 ,8 7 8 ; n e t, 5,647,711
R E P O R T .— R e p o rt fo r 1907-08, In V . 87, p . 1082, 1099, sh o w e d :
Y e a r s e n d in g J u n e 30—
1908.
1907.
1906.
2,599
2,594
2,457
M iles op era ted end o f y e a r _____
G ross ea rn in gs___________________52 1 ,7 8 9 ,2 9 4
5 2 3 ,9 8 7 ,0 2 0 5 2 1 .209 ,77 7
6 ,7 9 7 ,6 0 6
8 ,9 2 4 ,6 4 6
7 .8 7 8 ,9 6 0
N et ea rn in gs................
O th er receipts ..............................................
1,505,557
1,9 1 8 ,7 6 5
1,710,439
T o ta l net In com e______________
8,3 0 3 ,1 6 3
10,843,411
9 ,589,399
In te r e s t on b o n d s .....................................
4 ,5 7 7 .4 5 5
4,4 5 2 ,5 7 1
4 ,314,517
T a x e s , b r id g e expenses, rentals, A c . .
1,367,556
1,316,478
1,145,110
D i v i d e n d s ................................................... (5) 2,2 1 9 ,5 5 6 (1 0 )4 ,4 3 8 ,9 9 2 (14) 4 ,1 14,588
B a la n ce, surplus for y e a r ____
513 8,59 6
563 5 ,3 7 0
515,184
— (V . 8 7 , p. 3 9 , 167, 679; V . 88, p . 565, 749; V . 89, p . 105, 226.)
AlISSOURI RIVER & N. VV. R Y — See R a p id C ity B la ck H ills & W .
MOBILE & BIRMINQHAAl RR.— (.See M a p S o u th e r n R y . ) — M obile to
M arlon J u n c tio n , A la ., w ith bran ch es, 150 m iles. L e a se d to S ou th ern R y .
fro m M arch 1 1899 fo r 99 yea rs, th e la tter a greein g to m e e t th e Interest on
b o n d s a n d to g u a ra n tee a d iv id e n d on the 5 9 0 0,00 0 p re f. s to c k o f 1% fo r
first y e a r , 2 % fo r se c o n d y e a r and 3 % fo r third y e a r , a n d 4 % fo r th e fo u r th
y e a r an d th erea fter. T h e 5 9 0 0,00 0 c o m . s to c k Is o w n e d b y S ou th ern R y .
an d th e v o t in g p ow er o n th e p re f. Irre v o ca b ly a ssign ed to S ou th ern R y . d u r
ing lease: V . 68, p . 4 2 9 , 1134; V . 69, p . 391; V . 71, p . 1013.— (V . 72, p . 137.
AlOBILE JACKSON & KANSAS CITY R R .— O p erates:
R oadM ile s .
_____
R oad—
M ile s .
M obile, A la ., to M id d le to n , T c n n .3 6 9 E lllsvllle J e t . t o E lllsvllle , M lss.
6
B ea u m on t, M iss., to H a ttie s b u r g . 27 [
-----T o ta l (100 m . 60-Ib. a n d 302 m . 7 0-lb s te e l), ln cl. G u lf & C h ic a g o ___ 402
[V O L. L X X X I X .
R a te
%
W h en
P a y a b le
W h ere P a y a b le, an d by
W hom
523 7 ,5 0 0
3 .8 2 8 .0 0 0
650 .000
1 4 .9 0 4 .0 0 0
14.3 7 6 .0 0 0
9 .6 3 6 .0 0 0
3 7 .2 5 5 .0 0 0
520 .000
8 0 6 ,0 0 0
1 .0 2 6 .0 0 0
See text
8 1 2 ,0 0 0
2 9 1 .0 0 0
1 ,1 2 8 ,0 0 0
563 .000
1,51 7,000
2 ,6 8 0 ,0 0 0
4 K g A & O M ercantile T ru st C o
do
do
M & N
4
do
do
F & A
5 g
do
do
M &
6 g
do
do
M &
5 g
do
do
F
&
5 g
do
do
M &
4 g
J
&
do
do
5 g
do
do
M &
5 g
J
&
do
do
5 g
F & A
0 g
E q u ita b le T r u s t C o , N Y
Q— M
5 g
do
do
Q— M
5 g
Q— M
do
do
5 g
Q— M
do
do
5 g
do
do
Q— M
5 g
M & N K n ic k e r b o c k e r T r C o ,N Y
5 g
3 7 .2 2 8 .0 0 0
6 .0 7 4 .0 0 0
3 0 .5 3 3 .0 0 0
3 0 .8 4 9 .0 0 0
571.000
1 .428.000
2 .2 0 7 .0 0 0
2 .9 2 8 .0 0 0
4 35 .000
8 80 .000
900 .000
600 .000
1,2 0 0 ,0 0 0
5
5
4
4
5
5
5
5
6
5
4
5
4
See t e x t
See te x t .
See te x t .
g
g
g
g
g
g
g
5 g
A
A
J
M
&
O M ercantile T ru st C o, N Y
& O
do
do
& J
do
do
& N
do
do
Q uar.
do
do
Q — M T o w n s e n d , W h elen
& Co
Q— M
do
do
Q— M
M erc T r C o , N Y &P h lla
A & O M ercantile T ru s t C o , N Y
A A O N ew Y o r k and St L ou is
J
& J J P M org & C o N Y ; A L on
J
& J J P M organ & C o , N Y
J
& J
do
do
R on d s— P r tn c i
p a l. W h e n D u e
S tock s— L a st
D iv id e n d
O ct 1 1938
J u ly 1 1938
A u g 1 1920
N ov 11 9 2 0
Jan 1 1917
A u g 1 1920
M ch 1 1945
J u ly 1 1926
M ch 1 1926
Jan 1 1933
F e b 1 1938
S ept 1909-1912
T o M ch 1 1912
T o Jun e 1913
T o D eo 1914
T o D e c 1916
N o v 100 9-1 917
A p r 1 1931
A p r 11931
J u ly 1 1929
M ay 1 1933
T o D e c 1912
T o Jun e 1913
T o Ju n e 1917
T o Jun e 1917
A p r 1 1916
O ct 1 1023
J u ly 1 1909 2 %
J u ly 1 1945
J u ly 1 1945
1958
O R G A N I Z A T I O N .— A new c o m p a n y , p r o b a b ly u n d e r the n a m e o f th e
N ew O rleans M obile & C h icago, Is to be su cce sso r, w ith o u t fo re clo s u re ,
per plan V . 85, p . 1577; V . 87, p. 1664.
It Is p ro p o se d e v e n tu a lly to e x te n d
the sy ste m to the O h io R iv e r on the n orth a n d to N ew O rleans o n th e s o u th ,
and b u ild n ecessary branch lines.
T h e bon d s o f the o ld com pan ies receive par In new b o n d s an d 1 0 % In
p referred s to c k fo r p rin cip a l and par In new b o n d s fo r th e c o u p o n d u e
J u ly 1 1908 on the o ld bon d s and the three co u p o n s o f Jan . an d J u ly 1 1909
and Ja n . 1910, w h ich are to be re m o v e d fro m the new b o n d s. T h e o ld
s to c k w ill re ce ive b o n d s a t par fo r 2 0 % assessm ent w ith 3 % n cash fo r
b on d s s u b scrib e d an d 2 0 % In pref. s to c k .
A s y n d ic a te fo rm e d b y the Interests n o w In co n tro l agreed to assum e
the flo a tin g d e b t o f the o ld co m p a n ie s, a ggregatin g $ 1 ,5 3 4 ,2 6 2 , a c c e p t
in g as se c u r ity $1,534,263 In b on d s an d $15 3,42 6 In new p re f. s t o c k .
Of
the b o n d s, $ 1 7 ,9 1 0 ,0 0 0 , togeth er w ith $ 2 ,985,000 p re f. an d 5 1 4 ,9 2 5 ,0 0 0
c o m s t o c k , will be reserved fo r new m ileage.
O f the securities Issuable
on present m ileage, $12 ,090 ,00 0 b o n d s, 52,0 1 5 ,0 0 0 p re f. an d 5 1 0 ,0 7 5 ,0 0 0
c o m . s t o c k , $ 2 ,4 9 4 ,3 3 7 b o n d s, $1,0 5 5 ,4 3 4 p re f. s to c k a n d $2,0 0 1 ,2 0 0 com .
s to c k w ill rem ain ava ila b le In the treasury.
On A p ril 1 1908, o f the tw o o ld Issues o f 5 % b o n d s due 1933 (M o b . J a ck .
& K . C $ 3 ,9 6 4 ,0 0 0 an d G ulf A C h icago $ 4 ,0 6 1 ,0 0 0 ), som e $7,3 8 8 ,0 0 0 had
a ssen ted to th e pla n . T h e M. J. A K . C. and G . A C. a re to be sold In
fo re c lo s u r e o n A u g u s t 23 1909. V . 88, p . 1373. 584 ,000 ca r tru st d H s
o f 1905 m atu re $ 14 ,000 q u a r.; o th e r ca r trusts o u ts ta n d in g Jun e 30 1908,
$13 4 ,6 8 1 .
E A R N I N G S .— 11 m o s ., 119 08-09............. G ross, 5 1 ,4 2 4 ,0 1 4 ; n e t, $47 5,52 6
J u ly
to M ay 3 1 .
J 1 9 07-08_______ G ross, 1 ,371,977; n e t, 256 ,1 6 4
R E P O R T .— F o r y ear e n d in g Ju n e 30 1908, gross, 5 1 ,4 4 0 ,3 9 7 ; n e t, $ 25 7,
982; In t., ta x e s, ren tals, A c ., $35 8,32 1; b a l., d e f ., $10 0 ,3 3 8 .
In 1906-07,
gross, $ 1 ,5 5 3 ,8 5 1 ; n e t, $ 12 7,26 1.
R E P O R T .— F o r y e a r e n d . June 30 1906 In V . 84, p . 99.
O F F I C E R S .— P r e s ., L . S . B erg, 49 W all S t ., N . Y . ; S e c. an d T r e a s .,
G eo. W . C rary, M ob ile , A la.
D ir e c to rs .— L . S. B erg, W . D . S tra tto n , A le x a n d e r M c D o n a ld , J o h n W .
S im p so n , B ra y to n Iv e s , G eo. R . S h eld on , A . P . W a lk e r an d II. C. S n y d er,
N e w Y o r k C ity; W a lla ce B . R o g e rs , L a u rel, M ass.— (V . 88, p . 624 , 1373.)
1
M O B IL E & O H IO R R .— (See M a p S o u th e r n R y . ) — O w ns fro m M o b ile ,
A la ., t o C o lu m b u s, K y ., 472 m ., p ro p rie ta ry line. K e n tu c k y A T e n n . R R .
t o E ast C a iro, 21 m .; bran ch es to C o lu m b u s, M iss., A c ., 34 m .; C o lu m b u s.
M iss., to M o n tg o m e r y , A la ., 167 m .; M ob ile A B a y S h o re B ra n ch , 38 m .;
w ith W a rrio r B ran ch , 9 m .; W a rrio r S o u th . R y . (all s to c k an d b o n d s
o w n e d ), S e a r c y , A la ., to K ellerm a n, 14 m .; B lo c to n B ra n ch , 12 m .: to ta l
o w n e d . 767 m .: S t. L ou is & Cairo (le a s e d ), C airo to S t. L ., 152 m . w ith b r .
to M illsta d t, 7 m .; to ta l Jun e 30 1908, 926 m .
O p erated In d e p e n d e n tly
D I V I D E N D S .— 1898, 1 % ; 1 9 0 3 ,2 % : Ju n e 1904. 2 % ; 1 9 0 5 ,6 % ; 1 90 6.
Ju n e 3 % , D e c., 2 1 4 % ; 1907, 5 % (J & D ): 1908, J u n e , I H 'V o . D e c ., 2 H % ;
1JXn’ 1 9 0 8 °the S ou th ern R y . had a cq u ire d $ 8 ,1 0 2 ,0 0 0 o f th e $ 9 ,4 7 2 ,0 0 0
general 4s an d $5,6 7 0 ,2 0 0 o f the $6,0 7 0 ,6 0 0 s t o c k . Issuing, d o lla r fo r d o lla r .
Its collateral tru st 4 % g o ld b o n d s In e x ch a n g e fo r th e M . & O . gen eral 4s,
secu red b y a p le d g e o f the latter an d also s to c k trust c e r tld c a te s fo r s t o c k ,
d iv id e n d s b e in g p a y a b le (A A O) a t 4 % In p e rp e tu ity th e re a fte r.
S T O C K .— S to ck a u th o riz e d , $10 ,000 ,00 0; o u ts ta n d in g , $ 6 ,0 7 0 ,6 0 0 ; p a r,
$100. T h e v o t in g p o w e r on $4,984,200 o f th e s to c k Is e xercised b y th e g e n
eral m o rtg a g e b o n d h o ld e rs b y v irtu e o f d e p o s it o f o ld d e b e n tu re s o f 1879.
B O N D S .— U n d er th e g e n era l m ortg a g e o f 1888 there can b e n o fo re clo su re
till fo u r c o u p o n s are in d e fa u lt. M ortg age a b s tr a c t, V . 47, p . 8 3 .
V . 60,
p. 967 . I n t. o n $4,0 0 0 ,0 0 0 S t. L ou is A Cairo 4s Is gu a ra n te e d .
The 5%
e q u ip , n otes d ated O ct. 1 1907 a r e g u a r . b y A m .C a r A F d y .C o . V . 84, p . 996 .
O f the $ 2 ,5 0 0 ,0 0 0 collateral trust 4s o f 1900, $ 2 ,1 6 7 ,0 0 0 w ere Issuablo Id
e x ch a n g e fo r the $ 6 ,5 0 0 ,0 0 0 S t. L ou is A Cairo s t o c k . S ee V . 70, p . 532 . In
1907 $ ,
s to c k had been e x ch a n g e d .
D a te —
O u ts ta n d in g .
R a te .
M a t u r e i n I n s ta llm e n ts .
T o 1919
5
“ A ” an d “ B ” ....................... $998,000
4 t o 5 T o 1909
“ A C F , ” 1 9 0 1 -0 6 .............
70,006
S e p t. ’ 0 9-M ch . ’ l l , p a rt s-a
5
“ C .” 1 9 0 4 -...........................
3 56 ,000
Jan ’ 10-Ju ly ’ 15, $ 34 ,000 s -a
4
“ D ,” 1 90 5...........................
403 ,0 0 0
S e p t.'0 9 -M c h .’ lO, $46,000 s-a
640,000
4M
“ E .” 190 6.......... - ..............
O c t . '0 9 -O c t. ’ 14, part s-a
1907, g u a r a n t e e d ................1,015,000
5
4
T o D ec. 15 1012
J o in t eq u ip , n o te s, 1 9 0 2 .
66,5 0 0
B a ldw in L o c o m . W o r k s .
139,746
5 A6
T o 1910
E A R N I N G S .— 11 m o s ., 1 1 9 08-09 ____ G ross, $8,9 4 1 ,9 9 6 ; n e t, $ 2 ,8 2 6 ,1 0 2
J u ly 1 to M ay 3 1 .
J 1 9 07-08___G ross,
8 ,9 4 0 ,9 8 4 ; n e t, 2,5 8 0 ,5 8 4
R E P O R T .— R e p o rt fo r 1907-08, In V . 87, p. 1158.
Y e a r s e n d in g J u n e 30—
1907-08.
1906-07.
D ecrea se.
T o ta l o p e ra tin g r e v e n u e ............................$ 9,6 4 9 ,2 1 2 $ 10 ,747 ,84 4
$ 1 ,0 9 8 ,6 3 2
N e t, o v e r t a x e s ............................................ 2,6 0 4 ,7 3 9
3 ,1 8 2 ,4 9 4
577 ,755
604,681
N et, Inclu din g o th er In com e.................. 2 ,7 7 9 ,1 8 9
3 ,3 8 3 ,8 7 0
15,921
In te re st, ren tals, A c ..................................
2 ,3 1 3 ,2 6 9
2 ,3 2 9 ,1 9 0
D iv id e n d s p a id ........................................... (4 % )2 4 0 ,8 2 4 (5 % ) 3 0 1 ,030
60,206
A d d itio n s an d b e tte r m e n ts .
3 33 ,442
182,746
150,696
6 495,000
B a la n ce , s u rp lu s.
.......... ...........
$ 74 ,400
$42 0,20 9
$345,809
O ld B a s i s —
1906-07.
1905-06.
1904-95.
190 3-0 4.
T o ta l gross earn in gs-------- $10 ,759 ,51 9
$ 9 ,4 4 5 ,9 2 7 $8,2 6 7 ,6 0 1 $ 7 ,7 3 9 ,7 0 6
N et e a r n i n g s - - - ................
3 ,116,432
2 ,900.493
2 ,6 1 6 ,7 1 6
2 ,3 3 9 ,7 0 6
— (V . 8 5 , p . 1083, 1 3 3 6 ; V . 86, p . 603, 1590; V . 87, p . 1 1 5 8 .)
M O H A W K S A1ALONE R R .— (S e e M a p s N ew Y o r k C e n t r a l .) — O w ns fro m
H e rk im e r, N . Y . . t o M alone, w ith bran ch es, 182 m iles In all.
H I S T O R Y , L E A S E , & c.— N ew Y o r k C entral ow n s th e $ 5 ,0 0 0 ,0 0 0 s t o c k ,
on w h ich d iv id e n d s o f 4 % y e a rly are p a id .
In 1902 a new lease In p er
p e tu ity w as m a d e an d $1 0 ,0 0 0 ,0 0 0 3 M % con sols a u th o riz e d , o f w h ich $ 2 ,
reserved to retire a t m a tu rity th e first m tg e . b o n d s an d $ ,
,
fo r Im p ro v e m e n ts an d en largem en ts.— (V . 7 4 , p . 630 , 83 0 , 937.)
500,000
3 600 000
MO.
JEFFERSON
CITY
-
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90
RAILWAY STOCKS AND BONDS.
R A IL R O A D S
IN T E R E S T
H ie s
of
loa d
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , see n o tes
o n fir s t p a g e o f ta b les
M ob ile & O h io— S t o c k --------------------------------------------------First M M obile to C olu m b u s (p rin cip al g o l d ) - - - F . c
F irst M e x te n C olu m b u s t o Cairo & b ra n ch g . - . F . c
G eneral m tge fo r 5 1 0 ,5 0 0 ,0 0 0 (n ow gold ) s f . - F . c *
M o n tg o m D lv 1st M 54,0 0 0 ,0 0 0 g ( V 66 p 1045) .C e.c*
C ollateral tru st g o ld (5 2 ,500,000) call at p a r - - G .c *
S t L ou is & C airo first m o rtg a g e g o ld Interest g u a r .c
M ob ile & B Sh 1st M 5200,000 assum ed g o l d - . F . c
F irst M c oll n otes (V 86 p 603) g red p a r _______G .x c
M oh & M a i— 1st M 5 1 5 ,0 0 0 ]) m g gu p & 1 (end) - K c
C on s olid a ted m ortg a g e 51 0 ,0 0 0 ,0 0 0 g o l d ___ G .c * & r
M o n o n g a h e la R R — F irst M 51,5 0 0 ,0 0 0 jo in t g u a ra n ty
A lon on g a h ela R iv e r R R — B o n d s — See B & O R R
M o n t g o m e r y & Erie R y — 1st M (old 7s e x te n d e d ln’ 86)
M orelia & T a ca m b a r o — F irst M gold (see te x t) - U sm .c*
M o r g a n 's La & T e x a s — F irst M (N O to M org C ) .F ,c *
F irst m o rtg a g e A le x a n d r ia E x te n sio n g o l d _________F
G eneral m o r tg a g e ____________________________________ F
M orris & E s s e x — S to c k 7 % gu aran teed D L & W ____
F irst m ortg a g e g u aran teed u n d er le a s e ___________ Ba
C ons M (fo r 525 ,000 ,00 0) guar I) L & W _ _ _ U s .c * & r
F irst ref M gold 5 35 ,000 ,00 0 g u a r p & l (e n d )- F .c * & r
R eal estate m ortg age b o n d s ________ ______ _______
M orris & E ssex E x te n sio n s to c k g u aran teed 4 % .
M o r ris to w n & E rie— First. M 530 0,00 0 g s f red at p ar
M t C a rb on & P ort C R R — S to c k (rental guar) t e x t . .
M u n isin g — First m ortg a g e g o ld ....................- .....................
M u s k e g o n G rand R a p id s & In d ian a— F irst M g o ld -C e
N a rra g a n sctt Pier R R — First m ortg age 5100,000 -----N ashua & L ow ell —S to c k 0 % rental 92 yea rs B & M __
N ash ville C h a tta n oog a & St L ouis— S t o c k -------------F irst m ortg a ge (fo r 5 6 ,8 0 0 ,0 0 0 )_______________ c ’ &r
F irst M o n F a y e tte an d M cM brs (5 6,000 p m ) .c * & r
F irst m ortg a g e o n L e b a n o n B r a n ch _______________c~
F irst m ortg a g e on .jasper B r a n c h _____________ C e.c
F irst m ortg a g e o n C cp tre vllle B ran ch g o l d - C e .c ’ &r
1st M T r a c y C y B r d u e 520 ,000 y ly : rem 1 9 1 7 .c * & r
D u ck R R R secon d m ortg a g e (n o w first m t g e ) ____ g
C ons m tge (5 2 0 ,000,000) 520 ,000 p m g o ld ___ Us.C*
D a te
of
B onds
472
527
527
189
__
161
38
182
35
55
102
157
204
___
119
119
119
___
2
___
___
38
37
8.5
15
__
340
125
29
43
46
20
48
803
1879
1883
1888
1897
1900
1886
1899
1908
1892
1902
1902
1866
1903
1878
1880
1893
1864
1875
1900
Var
1903
_
1900
1886
1896
1873
1877
1877
1883
1883
1887
1881
1888
S iz e , or
Par
V a tu e
1,000
1,000
1,000 &c
1,000
1,000
1,000
1,000
1,000
50
250 &c
1,000
1,000
100
1,000
50
1,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
S ee C H IC A G O I N D I A N A P O L I S & L O U IS V I L L E R Y .
M O N O N G A H E L A R R . — B ro w n sv ille , P a ., t o R e d s to n e J e t ., 35 m iles,
co n n e c tin g w ith the P ittsb u rg h & L a k e E rie a n d P ittsb u rg h V irgin ia &
C h arleston (P en n . s y s t. lin e s ), w hich g u a ra n te e th e b o n d s (see ta b le a b o v e ),
prin cip a l and Interest, b y e n d o rs e m e n t. S t o c k , 51,428.000 .
P en n . R R .
an d P ittsb u rg h & L a k e E rie each ow n 5 7 1 4 ,0 0 0 s to c k . T h e P en n . R R . on
Jan . 1 1909 ow n ed 568 6,00 0 o f th e b o n d s
Y e a r e n d in g D e c. 31 1907,
gross, 51.031,422 : n e t, Incl. o th e r In com e, 540 5,63 6; charges, 5174,243.
M O N O N G A H E L A R I V E R R R . — R o a d fro m F a irm o n t to C larksbu rg,
W . V a ., 31 m iles.
R oa d o p e n e d In 1890. I). & O . ow ns all o f th e 5 1 ,3 0 0 ,
000 s t o c k . Car trust 6s M ay 31 1908. 5 5 9 ,0 0 0 .— (V . 70, p . 1092.)
AIO N TGO AIE RY & E R IE R Y .— (S e e M a p E r i e R R . ) — O wns M o n tg o m e ry
to G osh en , N . Y . , 10 m iles.
Leased In 1872 to E ric R R . a t 516 ,000 per an .
S t o c k ,51 5 0 ,0 0 0 . D Ivs. ( 4 V i % per a n .) p a id M ay 10 and N o v . 10. S in k ,
fu n d , 56,500 per a n . T h ere are 5 4 0 ,5 0 0 2d M . 5s d u e O ct. 1 1927.
A l O R E L I A & T A C A A 1 B A R O . — S ee p a g e 169.
M O R G A N ’ S L O U I S I A N A & T E X A S R R . & S T E A A 1 S H I P C O . — {S e e M a p
P a c i f i c . ) — R O A D .— O w n s Algiers to C lien eyvllle, 205 m iles;
b r a n c h e s , 122 m .; tra ck a g e to A le xa n d ria , 24 m .; total railroad lines, 351 m .;
s tea m sh ip lines and ferries, 106 m .
E x te n sio n s to B a to n R o u g e , L a ., & c.,
64 m ., w ere u nd er con stru ctio n In 1908.
O R G A N I Z A T I O N .— T h e S o. P a c. C o . ow ns all o f the $ 15 ,000 ,00 0 s t o c k ,
b u t ro a d o p e r . In d ep en d en tly . D lv ., 6 % . p aid In 190 5-0 6;In 1906 -0 7 , 1 0 % ;
In 1907-08. 2 4 % .
E A R N I N G S .— 11 m o s .J 1 9 0 8 - 0 9 .. . G ross, 54 ,2 2 6 ,9 7 5 ; n e t. $ 1 ,311,723
J u ly 1 to M ay 31.
( 1907-08-----G ross, 4 ,5 2 7 ,9 0 7 ; n e t, 1 ,0 5 3 ,1 4 4
In y ear en din g Ju n e 30 1908, gro ss, $5 ,0 0 0 ,0 1 4 ; n e t, in clu d in g oth e r In
c o m e , 5 1 ,1 7 7 ,5 3 3 ; surplus o v e r ch arges, 5 6 8 3 ,2 6 7 .— (V . 76, p. 543.)
o f S o u th e r n
R R . — (.See M a n o f D ela w a r e I.a ck a w a n n a
&, W e s t e r n .)
— O w ns from H o b o k e n , N . J ., to P h llllp sb u rg , N . J ., 85 m iles; b r a n c h ,
D e n v lllc , N . J ., v ia M orris & Essex T u n n e l, to H o b o k e n , N . J ., 34 m iles;
leases 38 m iles; total o p e ra te d , 157 m iles.
L E A S E D In p e r p e tu ity to D elaw are L a ck a w a n n a & W e ste rn , w h ich
as um es all liabilities an d gu aran tees 7 % p er ann um on sto ck : 1 % e x t r a Is
p a y a b le In th e e v e n t o f 3 0 % o f gross earn in gs b e in g s u fficie n t to p a y all
fixed charges an d 1 0 % on o u ts ta n d in g s to c k .
B O N D S .— l s t r c f . 3 ^ s . s e e V . 7 0 .D .480 ,4 7 7 ; V . 7 1 ,p . 1 1 6 7 ;V . 7 4 ,p . 1308
E A R N I N G S .— Im p o r ta n t to D . L . & VV. w ith term inal facilities on N . Y .
H a r b o r , b u t the earnings sh ow a d e ficit a fter p a y m e n t o f rental (In cluding
$ 1 ,0 5 0 ,0 0 0 d iv id e n d s ), v iz .: In 1908, 578 9,56 4; In 1907, $76 1,63 4: In 1906
5888,526; In 1905, 558 5,39 4; in 1904, $ 6 7 3 ,1 7 2 .— (V . 74, p.1308; V .8 2 ,p .8 0 5 )
M O R R IS T O W N & E R IE R R .— O w ns M o rristo w n , N . J., t o W h lp p a n y
4 m .; b r , DM m . S t o c k , 5 4 0 0 ,0 0 0 ;p a r , 5100. Y ea r 1906 gro ss, $62 550
n e t, 5 2 4 ,1 6 8 . P res., R . W .M c E w a n , 11 B r o a d w a y ,N . Y . — (V . 77 p 611 )
A l O U N F C A R B O N & P O R T C A R B O N R R . — O w n s M t. C arbon to P o r t
C a rb on , P a ., 2 .5 0 m .; 2d track, 2.45 m .; to ta l tr a c k , 15.40 m iles. Leased
M ch. 5 1860 fo r 50 years to P lilla. & R e a d . R I i . an d lease assum ed In 1906 b y
P h lla . & R e a d . R a il w a y .
T h e s to ck h o ld e rs v o t e d Jun e 30 1909 to m ake
a new lease to the P h lla. & R e a d in g fo r 99 years fro m M arch 5 1910 at
5 % o n th e s t o c k . V . 89, p . 42. R e n ta l, $36 ,250 y e a r ly .— (V . 89, p .
.
42
A1USKEGON
G ? AND
R A PID S &
IN D IA N A
R R .— See p a g
169.
N A S H U A & L O W E L L R R .— O w ns d o u b le -tra ck road fro m L ow ell, M ass.,
to N ashua. N . H ., .15 m iles. On O ct. 1 1880 leased fo r 99 years to B oston
6 L o w ell.
In 1887 lease w as transferred to B o sto n & M aine, w h ich pays
a rental o f $73 ,000 (9 % on s t o c k ); in N o v . 1906 to 1908 ln cl.,
e xtra
was p aid from a c c u m u la te d cash su rp lu s.— (V . 83, p . 970; V . 85, p . 1005.)
N A S H V I L L E C H A T T A N O O G A & S T L O U I S R Y . — (S e e M a p . ) — O wns
from C h a tta n o o g a , T e n n ., to H ick m a n , Iv y ., 320 m .; bran ch es to L eb anon
& c., 519 m .; leases W estern & A tla n tic , C h a tta n o o g a , T c n n .. to A tla n ta !
G a ., 137 m ., an d M em phis & P a du cah D ivision o f the L . & N ., 254 m iles.
See V . 71, p . 544, 664, 864 . T o ta l o n e ra te d J u ly 1 1908, 1,230 m iles.
O R G A N I Z A T I O N .— A m a jo r ity o f th e s t o c k (57.177,600) Is ow n ed b y
the L o u . & N a s h ., o f w h ich $ 5 ,5 0 1 ,5 0 0 Is p le d g e d u n d er Its m tges. W e s t.
& A t l . Is leased from .State o f G eorgia till D e c . 27 1919 at 5420.012.
D IV S .
’93. ’94. '95 t o ’98. '99 t o ’ 03. '0 4 . ’0 5 . ’06. '0 7 .1 9 0 8 .
1909.
sin ce 1893/ 3 H 3 H 4 y ea r ly .
N one.
4
5
5
^
B O N D S .— C on sol, m tge. o f 1888 p r o v id e d th at all p rio r b on d s should be
p aid o ff a t m a tu rity ; s u fficie n t o f Ih e $20 ,000 p . m . are reserved fo r th em .
J o in t ly w ith L ou . & N ash, gu aran tees $2,5 0 0 ,0 0 0 L . & N . T erm inal C o.
b o n d s. See L o u . & N ash. V . 75, p . 1354. $11 ,0 0 0 A e tn a Iro n , M fg ., M. &
OH 6s. V . 77. p. 2390.
L A T E S T E A R N I N G S .— J u ly 1 to M ay 31 (11 m o n th s ):
11 M o n t h s —
G ross.
N et.
In terest, & c.
B a l.,S u r
1908-09 __________ $1 0 ,2 2 4 ,8 7 9
$2,2 5 5 ,5 7 1
$ 1 ,6 6 3 ,6 1 5
$591,956
1907-08 __________ 10,222,722
2,2 4 4 ,4 5 3
1,673,281
571,172
A N N U A L R E P O R T .— R e p o rt fo r 1907-08 w as In V . 87. p . 808.
Y ea rs end. J u n e 30—
1908.
1907.
1906.
1905.
M ileage end o f y e a r ------1,230
1,230
1,226
1,226
G ross e a rn in g s---------------- 510 ,738 ,25 2 $ 1 2 ,2 3 8 ,4 7 2 $ 11 ,120 ,98 2 510 ,113 ,05 7
N et ea rn in gs_____________
2 ,556,153
2 ,5 0 8 ,3 1 0
2,7 6 6 ,0 6 9
2,560,407
In v estm en ts, & c _________
18,658
18,400
18,455
18,930
H ire o f e q u ip ., r e n ta ls .& c.
291,983
...........---------------------
6
N et In com e ....................... $2,866,794
In t. on d e b t and t a x e s . - 5 1 ,189,360
R e n t a l s ................................
0 2 6 ,o97
M is c e lla n e o u s ....................
56,000
D lv . on s t o c k ---------------- (5 W ) 550,000
A d d itio n s to p r o p e r t y ..
155,036
$ 2 ,5 2 6 ,7 1 0
51,167,871,
626 ,460
26,000
(6 )6 0 0 ,0 0 0
5 2 ,784,524
$1,1 6 9 ,6 7 0
624,862
36,000
(5 )5 0 0 ,0 0 0
51
5
52.579,337
51,174,734
625,878
36,000
(5)5 00.000
B a lan ce, s u r p lu s ..........
528 9,79 0
510 6,37 9
545 3,99 2
5242 725
P re s ., J oh n W . T h om a s J r .; V .- P ., I I . F . S m ith : C h airm an o f B oard
E . C. L ew is.— (V . 87, p . 167, 409, 678, 808; V . 88, p . 52.)
N A S H V I L L E & D E C A T U R R R . — (S e e M a p L o u is v i ll e & N a s h v i ll e .) —
O w ns fro m N ash ville, T e n n ., to D e ca tu r, A la ., 119 m iles. R e-leased to
L o u . & N ash. In 1900 fo r 999 years, the rental b ein g 7 H % o n s to c k . T h e
L o u . & N ash . J u ly 1 1908 o w n e d $ 1 ,9 7 9 ,6 0 0 o f the s t o c k .— (V . 70, p . 1195.)
R a te
A m oun t
O u ts ta n d in g
5100
500 &c
1,000
500 &c
1,000
1,000
500 &c
"M O N O N .” —
M O R R IS & E SSE X
[VO L. L X X X I X .
%
& D
$6,0 7 0 ,6 0 0 See t e x t J
& D
6
7 ,0 0 0 ,0 0 0
J
1,0 0 0 ,0 0 0
6 g
g — Jan
M & S
9 ,4 7 2 ,0 0 0
4 g
& A
F
4 ,0 0 0 ,0 0 0
' 5 g
2 ,4 9 8 ,0 0 0
4 g
y—
.T & J
4 ,0 0 0 ,0 0 0
4 g
M & iN
200 ,000
5 g
600 ,000
5 S
F & A 15
M & S
2 ,5 0 0 ,0 0 0
4 g
N
3 ,9 0 0 ,0 0 0
g M &
& O
1,4 2 8 ,0 0 0
3^ g A
5
130,000
1,2 0 0 ,0 0 0
5 g
7
5 ,0 0 0 ,0 0 0
1,494,000
6 g
5
1 ,000,000
7
15,0 0 0 ,0 0 0
7
5 ,0 0 0 ,0 0 0
7
1 1 ,677,000
13,6 0 0 ,0 0 0
3H g
1,8 0 0 ,0 0 0
4H
4
221 ,000
250 ,000
5 g
12
282 ,350
160,000
4 g
750 ,000
5 g
4
7 0 ,000 '
800 ,000 See te x t
1 0,000,000 5 In 1909
7
6,3 0 0 ,0 0 0
6
750 ,000
6
300 ,000
371 ,000
6 g
376 ,000
6 g
239 ,000
6
21,000
6 g
7 ,6 0 8 ,0 0 0
5 g
OR
W hen
P a y a b le
M
J
A
J
J
J
M
,T
,T
.T
M
M
J &
A
J
F
M
F
J
J
J
J
J
J
M
A
&
&
&
&
&
&
&
&
&
&
&
&
,r
&
&
&
&
&
&
&
&
&
&
&
&
&
D IV ID E N D S
W h ere P a y a b le, and by
W hom
M obile
F a rm ers’ L & T r C o, N Y
do
do
G allatin N at B a n k , N Y
do
do
G u aran tee T ru st C o, N Y
F a rm ers’ L & T r C o, N Y
F irst N at Bk, M o b ile , A la
G uar T ru st Co, N ew Y o r k
K n ic k e r b o c k e r T r C o ,N Y
G rand C ent S ta tio n , N Y
P h ila d e lp h ia , Pa
N G osh en , N Y
J U S M tge & T r C o, N Y
() S P C o, 120 ^ ’ w a y , N Y
do
do
J
do
do
J
,T D el L a ck & W estern , N Y
do
do
N
do
do
1)
do
do
D
do
do
J
do
do
N
S B r o o k ly n T ru st C o, N Y
15 R e a d in g T e rm in a l, P h lla
O A m e rica n T ru st C o, Clove
J J u ly 1908 paid M ay 1909
A It I H ospital T r C o, P r o v
N Indian H d B ank, N ashua
A N ew Y o r k and N ashville
J H a n o v e r N at B a n k , N Y
J H a n o v e r N at B a n k , N Y
do
do
,T
do
do
J
do
do
J
do
do
J
N
do
do
do
do
O
B on d s— P rin ci
p a l, W h en D u e
S lo c k s — L a st
D iv id e n d
Ju n e
D ee
J u ly
S ept
F eb
M ay
Jan
M ay
F eb
S ept
M ch
O ct
24 19082 >4
1 1927
1 1927
1 1938
1 1947
1 1930
1 1931
1 1949
15 1911
1 1991
12002
1 1942
M ay 1 1926
Jan 1 1943
A pr 11918
J u ly 1 1920
J u ly 1 1913
J u ly 1 1909 3
M ay 1 1914
June 1 1 9 1 5
D ec 1 2000
1912
M ay 1909 2 %
S e p t 1 1923
J ly 15 ’ 09 6 %
O ct 1 1925
J u ly 1 1926
A llg 1 1916
Ma
1 1909 4 W
A u g 2 1909 2 /4
J u ly 1 1913
Jan 1 1917
Jan 1 1917
Jan 1 1923
Jan 1 1923
Jan 1910 to '17
N o v 1 1909
A p r 1 1928
N A S H V I L L E T E R A W N A I . R R . — O w ns brid g e a cross the C u m b e rla n d
R iv e r a n d 18 m . o f tra ck .
Leased fo r 99 years fro m M ay 1 1902 to T e n n .
C en t. R R . , w h ich ow n s entire $ 1 ,0 0 0 ,0 0 0 s t o c k .— (V . 74, p . 577, 830.)
NATCHEZ
E A S T E R N R Y . — See M ississippi C en tral.
N A T I O N A L R R . O F A I E X I C O — (S e e M a p . ) — B y Indenture d ated J a n . 1
1909 the p r o p e r ty w as c o n v e y e d to the N ation a l R y s . o f M e x ico , the la tte r
o p e ra tin g the ro a d fro m th at d a te .— (V . 88, p . 452.)
N A T I O N A L R A I L W A Y S O F A I E X I C O . — (S e e M a p ) — C om prises:
L eased—■
M ile s .
S ta n d a r d G a u g e — O w n ed .
M ile s .
11
L a re d o to C ity o f M e x ic o _______ 802 M exica n U n ion R y _____________
M e x ico C ity to Ju a rez C it y ____ 1,224 Bar e x te n sio n (T a m p ic o to L a
B a r r a )--------------------------------------6
M e x ico to R io B a lsas___________ 181
C ln tu ra, & c ., lines (3-raill track)
9
T o ta l sta n d a rd g a u g e ------------- 4 ,9 0 5
C h lealotc to T a m p ic o ___________ 407
N a r ro w G a u g e — O w n ed .
T a m p ic o to P a reclon ____________ 370
B ra n ch — Ira p u a to to A m e c a ___ 217 C ity o f M e x ico to U ru a p a n ------- 317
“
G uadalajarl t o T u x p a n . . 120 Mexico to Beristaln & branches 152
L ea sed —
San P e d ro to P a ra d o n _________
San Juan J e t. t o J a ra l.
50 M lch oa ca n & P a cific R y ., M ar a v a tlo t o Z lt a c u a r o --------------57
V a n egas to M ateh u ala_________
40
R in c o n to P o z o s
37
T o ta l ln cl. In e a r n in g s ----------- 5,431
M on terey to M a ta m o ro s________ 205
C o n tr o lle d — E a r n in g s s e p a r a te
G onzales to A c a m b a ro _________
53
(see s e p a r a te sta te m 't f o r ea ch )
Jim en ez to R o s a rio _____________
96
O th er bran ch es, & c ____________ 675 M ex. In t. (in cl. 24 m . l e a s e d ) ., 918
In te r o cc a n ic R y . o f M e x ic o ------- 736
C o n tr o lle d — S e c u r itie s O w n ed .
M exica n P a cific R y ., T u x p a n
to M a n za n illo_________________
102
T e x a s M exican R y ., Corpu s
Christ! to L a re d o , T e x ., & c ._ 162,
G rand to ta l (o f w h ich 1,205 n arrow g a u g e )---------------------------------------7 ,0 8 5
O R G A N I Z A T I O N .— O rganized M a rc''
1908 u n d er sp ecial A c t o f C on
gress o f M e x ico , per plan in V . 8 6 , p . 918, 982.
_
T h e p rop erties o f th e N a tio n a l R R . o f M exico and M exican Central h a ve
been acq u ire d b y d eed s, o p e ra tio n o f th e sam e b e in g tak en o v e r Jan . 1 and
F e b . 1 1909 r e s p e c tiv e ly .
V . 88, p . 452 .
A p p lic a tio n to list, de scrib in g
p ro p e rtie s, new s ecu rities, & c ., V . 88, p. 1318.
.
T h e M exica n G ov e rn m e n t ow n s $11 5 ,0 2 3 ,5 9 0 o f th e $ 2 3 0 ,0 0 0 ,0 0 0
au th orized s to c k , v iz .: $ 10 ,000 ,00 0 first preferred, $ 3 0 ,2 7 8 ,2 9 0 se c o n d
preferred an d $ 74 ,745 ,30 0 c o m m o n s t o c k , and gu aran tees the p rin cip a l
an d Interest o f the new general m tg e . b o n d s .— V . 8 7 , p . lo 3 3 .
D I V I D E N D .— On 1st pref. 1 % p aid A u g. 18 1908; 1909, M ch . 1, 1 % .
Securities Im m e d ia te ly Issu a b le .
„
, _
,
’ T h e a m o u n ts o f new b o n d s an d p re f shares w h ich th e N ew A o rk S to c k
E x ch a n g e has agreed to list as soon as Issued (V . 88, p . 1318) are as fo llo w s :
[T he a m o u n ts a c tu a lly listed are sh ow n In table a t to p o f n e x t p a g e .]
&
138
28
P rior Lien 4 H % B o n d s ($2 2 5 ,0 0 0 ,0 0 0 au th orized) —
Issuable In part e x c h . fo r M c x .C e n t .b o n d s .a b t. $ 70 ,294 ,96 2
S old fo r c a s h ________________________ - _____________ 1 0 ,000,000
T o M exica n G o v ’ t on a c c ’ t o f g u a ra n ty , & c ------6,0 0 0 ,0 0 0
A c c t . 5 1 0 ,0 0 0 ,0 0 0 N a t. R R . g o ld n otes d u e
A p ril 190 9........ .......... ....... ......... ......... .............
7 ,2 0 0 ,0 0 0
B e tte rm e n ts, e q u ip ., retiring e q u ip , o b llg ., & c. 1 3 ,OOo,0 0 0 -5 1 0 6 ,4 9 9 ,962
T h e rem ain d er o f the a u th . Issue o f $22 5,00 0,0 00 Is reserved as f o l
low s- (1) $2 3 ,0 0 0 ,0 0 0 to retire $ 2 3 ,0 0 0 ,0 0 0 N ational R R . o f M e xico prior
lien 4 H % b o n d s due O ct. 1 1926; (2) $ 95 ,500 ,00 0 fo r e x te n sio n s, a d d ition s
and Im p ro ve m e n ts as sh o w n In V . 8 6 , p . 1319, 919.
T h e right Is reserved to Issue $ 6 ,0 0 0 ,0 0 0 a dd ition al b o n d s ranking p a r t
p a s s u w ith the o th e r bon d s o f this series, to take up a t o r b efore m a tu rity
£ 1,200,000 p rio r lien b o n d s o f the M ex. In tc rn a t. R R . C o ., w hich see.
T h e p rior lien b o n d s w ill be s u b je c t to call n iter Jan. 1 1017 a t 105 In
am ou n ts n o t less than $ ,
,
, o r fo r a cu m u la tiv e sin k , fu n d su fficien t
t o retire the en tire Issue b y m a tu r ity .
G uaranteed G enera! A lo rtg a g e 4 % B o n d s ($160,0 0 0 ,0 0 0 a u th .) —
Issuable In part c x c h . fo r M e x .C e n t.b o n d s , &c_ $38 ,565 ,07 5
S old fo r c a s h .............- ..............- .............. - - - - r --------6 ,750,000
T o M ex. G o v ’ t o n a c c o u n t o f g u a ra n ty , & c .
2 .450.000
A c c t . $10 ,0 0 0 ,0 0 0 N a t. R R . ff. n o te s d u e A p r. 09 4,8 0 0 ,0 0 0
B e tte rm e n ts, e q u ip ., retirin g e q u ip , o b llg ., &c
8 ,1 8 5 ,9 2 5 — $ 6 0 ,7 5 1 ,0 0 0
T h e rem ain der o f the a u th o rize d Issue o f $16 0,00 0,0 00 s reserved as f o l
low s: (1) $ 2 4 ,7 4 9 ,0 0 0 to retire o u ts ta n d in g N ation a l R R . o f M exico first
co n s o l. 4s: (2) $ ,
fo r e x te n s io n s , a d d itio n s and Im p ro v e m e n ts ns
s ta te d in V . 86, p. 1320, 919.
T h e right Is reserved to Issue a d d itio n a l b o n d s, ran k in g p a r i p a s s u w ith
the o th e r b o n d s o f this series, to take up or retire a t o r b efore m a tu r ity nu
equal a m o u n t o f the co n s o l, m tg e . b o n d s o f the M exican In tern ation al R R .
T h e general m tg e . b o n d s will be s u b je c t to call at par In a m o u n ts n o t less
than $10 ,0 0 0 ,0 0 0 a fte r A p ril 1 1927; also on and a fte r O ct. 1 1937 fo r a c u m
u lativ e sin kin g fu n d , w h ich Is to retire en tire Issue n o t later than 1977.
First P referred Shares (
.
auth orized)
T o be e x c h . fo r $ 2 8 ,8 3 3 ,0 0 0 N a t. R R . o f M ex. p f .s t k ., 1 0 0 % _ $ 2 8 ,8 3 3 ,0 0 0
T o assure to the 1st p re f. shares sem i-ann ual d lv s. o f 1 % fo r 3 years from
Jan . 1 1908, to the e x t e n t to w h ich the n e t p ro fits shall n o t be su fficien t
to m ake such p a y m e n t, p r o v is io n Is to be m ad e fo r the se ttin g aside b y the
c o m p a n y , as a separate fu n d , o f $ 1 ,8 0 0 ,0 0 0 prior lien b o n d s and $ 1 ,2 0 0 ,0 0 0
gu aran teed gen . m tge. b o n d s, o r In case o f a sale th e re o f, then a su fficien t
a m o u n t o f the p roceed s th e re o f.___
Secon d Preferred Shares ($ 1 2 5 ,0 0 0 ,0 0 0 a u th .) —
Issuable In part e x ch a n g e fo r M ex. C en t. R y . 4 %
b o n d s an d Incom e b o n d s .................................... $41 ,416 ,23 1
F o r M e x . C e n t.R y . s to c k ($ 5 9 ,1 2 7 ,1 0 0 ), 100 % 59,1 2 7 ,1 0 0
A c c o u n t o f N at. R R . o f M exico s t o c k ................. 2 4 .4 5 6 ,6 6 6 — 512 5 ,0 0 0 ,0 0 0
O f the 515,7 10,000 M exica n entral R y . 4 -y e a r 5 % g o ld n otes due J u ly 1
1910 $ 7 ,3 6 0 ,0 0 0 w ere called :' >r red e m p tio n J u ly 1 1909.
B oth series o f M ex. C en t. Incom es a r c n o n -cu m . and secured b y on e Inden
tu re to the A m erican L . & T . C o . o f B o s to n . F irst Incom es re ce iv e d 3 %
int. In 1890, 1891 an d 1892; n on e s in ce . V . 72, p . 627, 880; V . 85, p . 40.
10 000000
74 500,000
530 000.000
Rincon,
Weatherford^
Tucsoip
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Cananea1,
.Magdalena?
----1------(BAEO DEL NORTE,)''! '
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Tasajera
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lima MONTGOMEI
Shreveport
San Angelo
Pecos
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Calientefi— Tres
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CONSTITUENT COMPANIES
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R .
O F
M E X IC O
IN T E R N A T IO N A L
IN T E R O C E A N IC
R .
R A IL W A Y
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M E X IC O
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IONDURAS
92
R A IL W A Y
STO C K S
of
R oad
Nashville & Decatur— Stock guar 7J*% by L & N . . .
119
Nashville Florence & Sheffield— See Louisville A Nash vllle
Nashville Term inal— First mtge gold Int rent red 105National R ailw ays of M exico—
Com stock $75,000,000 U S g or 150,000.000 Mex pes
First pref stk $30,000,000 4 % n-c (also as to assets) . - - 2d pref stock $125,000,000 5% n-c (also as to assets)
Prl lien M U S g red 105 beg ’ 17 (see text) .C e.xc* &r*
General m tge U S gold redeem par (text) gu ar.N xc*
N
R R o f Mex prior lien M gold call 105____Un.c* 1,284
First consol M $60,000,000 gold (see tex t).C e.c* 1,514
M exican Central— First m ortgage Including scrip___
Priority bonds gold redeemable at 110_____ ______
Consolidated m ortgage $32,000 p m goldB B.c*& r 3,407
First cons Inc & scrip n-cum ($9,600 p m) g . AB.c* 3,407
2d cons lnc($6,400 p m )rcd 5 0 % to A ug 1929AB.C* 3,407
Registered Income bonds and scrip u n assen ted -.r
Collateral trust notes g red par (as u m ed )_______
I-Equipm ent 5s $50,000 redeemable yearly at par
do ($50,000 yearly par) red 102 y b e g ’ lO .O B .c*
Nauga tuck—See New York New Haven A Hartford
Nevada-Caiifornia-Oregon— First mtge $1,500,000 g .
184
Nevada Central— 1st M gold non-cum Inc (sink fd ).C c
94
New England— See New York New Haven & Hartford
New Haven & Northampton— Sec New York New Ha ven &
New Jersey Junction— First M guar $4.000,000..G.c&r
5
New Jersey & New York — See Erie R R Co
New Jersey & Pennsylvania — Tem porary M $200,00C
20
New London Northern — S t o c k -----------------------------------121
Consol m ortgage (now first M) ($688,000 are 4 s). _c*
121
W est R iver first m ortgage guaranteed prln and Int.
35
New Mexico Cent — S Fe Cent 1st M $2,500,000 g PPic*
117
New Mexico R y & Coal —See El Paso & Northeastern Co
New Orleans Great Northern — First M gold — K.c*&r
271
196
New Orleans & North Eastern — Stock $6,000,000-----P rior lien mortgage gold ______________________ Ce.c*
196
196
First mortgage gold ------------------------------------------- F.c*
of
B onds
IN T E R E S T OR D IV ID E N D S
S iz e, or
Par
V a lu e
....
1902
—
1907
1907
1901
1901
1881
1889
1889
1889
1889
1881
1906
1897
1809
1905
1885
1881
25
3,573,750
7H
J
&
J Nashville
1,000
1,000,000
5g
J
&
J Mercantile Tr Co.StLouls Jan 1 1932
&
&
6 Old Col Tr Co, Bost& Lon Apr 1 1917
do
do
O
Oct 1 1919
5g
5 g
M
J
&
&
N Moran Bros, New York May 1 1919
July 2 1938
J IK % paid Feb 1909
& A N Y Central A Hud R iver Feb 1 1086
4
F
5
J
N e t I n c o m e o f L i n e s N o w C o m p r i s in g the N a t io n a l I ly s . o f M e x i c o f o r the
Leaving (on basis of last year’s earnings) applicable to Interest
on the prior lien 4 y , % bonds------------------------------------------------ $6,626,838
T he Int. on $84,759,977 prior lien 4 H % bonds (which amount
Includes the present Issue of $24,000,000 bonds) amounts to . .$3,814,199
The net earnings for the ilrst nine months o f the present fiscal year show
an Increase o f $674,037 U. S. gold over the same period of the last fiscal year.
The report of the Mexican Central R y . for 1907-08 was In V. 87, p. 1530,
1660; that of the National R R . o f M exico In V . 87, p. 1084, 1178.
M e x i c a n C e n tr a l R y .— R es u lts f o r Y e a r s e n d in g .J u n e 30.
1907-08.
1906-07.
1905-06.
Miles operated, average............- ..........
3.225
3,203
3.155
Gross earnings (Mexican currency)..$35 ,5 1 0,5 81 $31,236,195 $28,376,806
Net earnings (Mexican currency)------ $10,859,172
$9,160,017 $8,566,161
Net earnings (U . S. currency)_________ $5,429,586 $4,604,456 $4,287,862
For 6 mos. ending Dec. 31 1908 (U . S. currency), gross, $7,657,221, agst.
$9,208,225 In 1007: net, $2,824,596, agst. $2,592,956; fixed charges, & c.,
$2,695,695; charged ofL $87,885; b al., sur., $41,016.
F o r m e r N a t . R R . o f M e x . — R es u lts f o r y e a r s e n d . J u n e 30.
E a r n in g s Y e a r s e n d in g June 30—
1907-08.
1908-07.
1905-06.
Average miles operated.....................
1,738
1,730
1,730
Gross, earnings (Mexican currency)--$15,601,310 $15,874,669 $14,039,303
N et earnings (Mexican currency)-----5,686,151
5,722,831
5,413,252
Net earnings (U. S. currency)------------ 2,843,075
2,861,416
2,706,626
Incom e from invests., &c. (U. S. cur.)
660,340
747,636
_______
F or 6 m os. ending Dec. 31 1908 (U. S. currency), gross, $3,414,962; net,
$1,342,028; other incom e, $237,380; fixed charges, & c., $1,587,587; bal.,
d e f., $8,179.
Chairman of Board, Lie. Jose Ives Llm antour; Vice-Chairman, Lie.
P ablo Macedo: Chairman New York Local Board, H. Clay Pierce; Pres.,
E . N. Brown. N. Y . office, 25 Broad S t.— (V . 88, p. 1062, 1254, 1313,
1318, 1438, 1500; V . 89, p. 225.)
NEVADA-CA LIF ORN IA-O REG ON R Y . — R eno, N ev., to Alturas. Cal.,
184 miles, of which Madeline toLIkely, 20 miles, opened Oct. 1 1907, and
20 miles, from Likely to Alturas, com pleted Dec. 1908. The Sierra Valleys
R R ., Plumas to Mohawk, Cal., 37 miles, was acquired at foreclosure sale
Jan. 30 1909, the stock of new co. to be ow'ned, V . 88, p. 452. Stock, com .,
$1,450,000; pref., $750,000, all out. After 5% on com ., both stocks share
pro rata. LMv. on pref. Aug. 1906, 3 % : Aug. 1907, 4 % ; Aug. 1908, 5 % .
R eport for year 1907-08 was In V . 87, p. 933, showing, gross, $338,668;
net, $167,103; other Income, $19,924; Int., taxes, & c., $54,579; Impr’ t fund,
A c . , $51,287; d lv. on pref. (5 % ), $37,500; bal., surplus. $43,661.
Pres..
D . C. Moran, 68 William S t.. N. Y .— (V . 87, p. 933; V. 88. p. 452.)
NEW JERSEY JUNCTION R R .— Terminal road through Jersey City,
H oboken and W eehawken, about 5 miles. Leased for 100 years from June
30 1886 to N .Y .C en tra l, which guarantees bonds and owns $100,000 stock.
NEW JERSEY & NEW YORK R R .— Owns from Erte Jet.. N . J ., to
Oarnervllle, N. Y ., 29 miles; branches to New C ity, & c., 5 in.; operates to
Haverstraw, & c., 14 m.; total operated, 48 miles. Erie R R . In April 1896
purchased control. Stock, $1,440,800 com ., $787,800 pref.; par, $100. Con
trol Is with pref. stock and 1st m tge. till 6 % has been paid on pref. for three
years. Year ending June 30 1908, gross, $610,784; net, $119,856; other
I n c.,$3,151; int., rentals, & c.,$226,406; bal., d e f.,$103,400.— (V .65, p.822.)
NEW JERSEY & PENN SYLVAN IA R R .— W hltehouse to Morristown.
N . J ., 26 miles. On March 1 1906 Frederick V . Pitney of Morristown,
N. J ., was appointed receiver. V . 82, p. 510, 692. V. 82, p. 692. In
Sept. 1907 reorganization was pending .stock being Increased to $300,000
and a new temporary 5 % mortgage for $200,000 m ade, dated June 1
1907. V . 85, p. 793. Pres., Chas. U. Flint; Sec. and Treas., Louis E.
Spencer. Office, 37 Wall S t., New Y ork .— (V . 85, p. 793.)
NEW LONDON NORTHERN R R — Owns from New London. Conn., via
B rattlcboro, V t.. to South Londonderry, V t., 158 miles.
LEASKD for 99 years from Dec. 1 1891 to Central Verm ont. The rental
I s $213,552perannum , w hichleavesa small surplus after providing for Inter
est, & c., and 9% dividends. Taxes and Improvements met b y lessee. In
Feb. 1909 applied for permission to Issue $1,500,000 bonds to refund out
standing bonds due July 1 1910. V. 88, p. 506.
D IV ID E N D S .— 1888 to April 1892, 7 % yearly, then 8 % yearly to 1893,
and since to July 1909 (Inc.), 2 K % quar. (9% per a n .)— (V . 88, p. 506.)
NEW ME XIC O CENTRAL R R — Owns from Santa Fe. N. M ., south to
T orrance, 117 m .; opened Jan. 1 1905. Name changed from Santa Fe
Central R y. In A ug. 1908. Branch from Morlarlty Jet. to A lbuquerque,
N . M ., 47 miles, was proposed. The A lbuquerque & Eastern, merged in
1 1957
1 1977
11926
1 1951
1 1911
1 1939
1 1911
10 1939
10 1939
1 1911
1 1910
A
A
1,700.000
F i s c a l Y e a r e n d e d J u n e 30 1908.
T otal net Income after deducting operating expenses (U. S. c u r .) .$8,933,002
F ixed and other charges, partly estim ated, prior to
Interest on the prior lien bonds o f the National R ys
of M exico, for the current fiscal year—
Interest on prior lien and consolidated mortgage
bonds o f the form er National R R . Co. o f Mexux>_$2,024,600
Other charges_______________________________________
281,563 2,306,163
July
Oct
Oct
Oct
July
July
July
Jan
Jan
July
July
5 g
5 g
See text
1,500,000
1,500,000
75,000
2,000,000
1.000
July 1909 3 K %
text See text Office, 25 Broad St, N Y Mcti 1 1909 1%
1,000
100
1,000
1,000 Ac
100
1.00(
1 000|
W h ere P a y a b le, a n d b y
W hom
& J
do
do
4M g J
A & O
4 g
do
do
& J
do
do
4K g J
A & O
do
do
4 g
J & J New Y ork and Boston
4
do
do
J & J
5 g
do
do
J
&
J
4 g
July 10 None jsald
3 g
3
do
3
July 1
j
& J
5 g
1,000
NATIONAL R A I L W A Y S OF MEXI CO (C o n c lu d e d .)—
In 1007, In addition to the $66,880,000 Mex. Cent, consol. 4s In hands o$
public, some $41,000,000 were deposited as part collateral for the coll,
trust notes of 1906. Coll, trust 5% scold notes assumed by N at. R ys. of
M exico, due 1010, sec collateral. V . 87, p. 614; V . 88, p. 231.
Of the Mex. Intcrnat. consol. 4s, $6,501,000 were guaranteed, p . & I., b y
the Nat. RU. of M ex., the guaranty being assumed b y the National Railways
Co. See that com pany; also V . 75, p. 77.
G E N E R A L FIN A N C E S .— In May 1908 the readjustment managers
sold $13,750,000 prior lien 4 ^ s at 94% and in June 1900 $24,000,000 at
9 5 % , and in June 1908 they sold $29,500,000 general 4s to French bankers.
V. 80, p. 1344; V. 87, p. 38: V . 86, p. 918, 982; V . 88, p. 52, 231, 1438.)
E A R N IN G S .— 1 mos.,J 1909____Gross, $17,520,426; net, $7,747,510
Feb. 1 to May 31. \1908___ Gross,
16,658,273; net,
5,957,915
A N N U A L R E S U L T S .— For the com bined properties (V . 88, p . 1438):
580,000
750,000
1,000
1,000
Hartfo rd
1886
1880
1905
1901
R a te
%
74,749,033
28,■•'06,500 See
123,835,690
89,227,400
$, £ Ac
$, £ .See 52,746,600
500 &c 23,000,000
500 Ac 27,280,000
51,085 (7)
1,000
1,420,000
1,000
3.683,000
1,000
1,107,000
1,000
118,000
1,000
20,200
1,000
8,380,000
1,000
3,132,606
400,000
1,000
550,000
1,000
W h en
P a y a b le
B on d s— P r in c i
p a l, W h en D u e
S to ck s— L a st
D iv id e n d
A m oun t
O u ts ta n d in g
................
1809
1888
1907
[VOL. LX X X IX .
BONDS.
"
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , A c . , s e e n o te s
cm f i r s t p a g e o f ta b les
A N D
9
4 &5
4
5 g
J
J
J
A
J u n e l 1927
D
New London Office
July 1909 2 U %
& J Mechanics Nat. B k .,N Y July 1 1910
85 years
do
do
& D
Q—J
A
D Pittsburgh Trust Co
7,500,000
F A A
5g
6,000,000 4 In 190S Yearly
1.320.00C
A A C
6 g
100.000
6 g
J
& J
Dec 11941
FIslc A R obinson, N Y Aug 1 1955
Sept 3 1908 4%
New Orleans, La
Central Trust Co. N Y N ov 1 1915
Muller, Schall A Co, N Y Jan 1911
Sept. 1908. which was to build the extension, has made a mtge. to the
Pitts. T r. C o., as trustee. In A ug. 1908 $1,600,000 were reported assold;
V . 87. p. 545. Other allied lines, see V 80, p. 221. Stock, $2,o00,000,
all outstanding. For year ending June 30 1007, gross, $58,797; net, $13,
315. Pres., R obert Law; V ice-Pros., W S. Hopewell; Treas. Francis J.
Torrance: Sec., J. W . A rrott Jr. O ffice. Santa Fe, N. M.— (V . 87, p. 678.)
NEW ORLEANS FORT JACKSON & GR A ND ISLE R R .— V 88. p. 375.
NEW ORLEANS GREAT NORTHERN R R — (See M a p . ) — New Orleans.
L a., to Jackson, Miss., 180 miles, with branches, making a total or about
300 miles. Now com pleted to Slidell, La., northward on main line Into
Mississippi, 155 miles; Pearl River to F olsom , L a., 37 miles; branch to
Mandevllle, L a., 12 miles; branch, Slidell to Ablta Springs, La., via Mandevllle,26 miles; branch via Frankllnton to T ylcrton , Miss., 41 miles; trackage.
New Orleans to Slidell, La., 29 miles; total, 260 miles. Entrance Into Jack
son, Miss., com pleted July 1 1909, on which date entire mileage was turned
over to operating department. Stock, $4,242,200.
Of first mortgage bonds ($10,000,000 authorized), $7,500,000 have been
Issued for construction and equipment. V. 81, p. 841. Average miles In
operation 11 mos. to May 31 1909, 101.19 miles.
E A R N IN G S (101 m iles).— 11908-09.-G ross, $446,626; net, $107,907
11 m os., July 1 to May 3 1 .tl9 0 7 -0 8 _.G ross,
396,24^: net,
104,401
O F F IC E R S .— Pres., Charles W . Goodyear: 1st V .-P . and Gen. Counsel,
M. E. Olmsted: 2d V .-P . and Sec., C. I. James; Treas., I- . A . Lehr; Gen.
Mgr., N . G. Pearsall. Directors; Messrs. Goodyear, James, Olmsted
Pearsall, I. C. Enochs, C. K . Mulllngs, G. M. W hitney, G. C. LIgon and
C. W . Goodyear Jr.—-(V. 86, p. 1530; V. 88, p. 1197.)
NEW ORLEANS MOBILE & C H I C A G O — See Mobile Jackson & K . C.
NEW ORLEANS & NORTH EASTERN R R .— New Orleans La., to Mer
idian, Miss.. 106 miles. Stock, $6,000,000 (par $100), of which $5,320,000
and $5,195,000 gen. 4 K s and $1,500,000 Incomes were held In Jan. 1909 by
Ala. New Orleans Texas & Pac. Jet. R y .
,,
,
, t
Reorganized In 1902 per plan In V. 74, p. 581. J^*YjfJ®n(Lon. Stock
and 1 9 0 4 , 3 % each; 1 90 5 ,3 H % ; 1906, 5 % ; 1907, 6 % ; 1908. Sept., 4 % . Of
the gen. 4 X s , $1,372,000 are reserved to retire the remaining prior lien and
Ilrst mtge. bonds and $966,000 for future needs. Equip, notes of 1906,
V . 82, p. 987.
E A R N IN G S .— 11 m o s .J 1908-09_____ Gross, $2,803,888; net, $877,809
July 1 to May 31. (1907-08_____ Gross, 2,674,958; net, 673,588
Report for 1907-08, V. 87, p. 1295.
T ,
.
„ ,
Y r . e n d . J u n e 30.
G ross.
N et.
O th . I n c . I n t . , A c
B a la n c e .
1907-08....................... $2,865,315
$669,948 $126,413 $550,721
$245,640
1906-07_____________ 3,090,208
855,109
169,338
4A7, ’ ®?9
From surplus paid dlv. of 4 % ($240,000) In 1 9 0 7 - 0 8 , against 6% ($360,
000) In 1906-07.— (V. 85, p. 160, 722, 1395: V . 87, p. 1295.)
NEW ORLEANS TE RM INA L CO.— Owns extensive terminal property at
New Orleans and a belt railroad around the city, leased to the St. Louis &
San Francisco and Southern R y. for 99 years from July 1 1903, rental cover
ing all expenses of operations, maintenance and charges, soutnern R y .
and St. Louis & San Francisco each own half of the $2,000,000 outstanding
stock ($5,000,000 authorized), and Jointly guarantee the bonds. In Feb.
1909 $3,000,000 of an Issue of $3,500,000 2-year 5% notes, guaranteed by
two lessor companies and secured by $ 5 , 0 0 0 ,0 0 0 bonds, were sold to retire
$2,500,000 notes maturing April 10 1909 and for Improvements, \ . 86, p .
721; V. 88. o . 564. Pres., D . D. Curran. See V. 78, p. 343, 1447; V . 79,
p. 1466; V . 81, p. 155; V. 83. p. 272; V . 86, p. 721: V. 88, p. 564.)
NEW YO RK B AY R R .— Owns from Kearney Junction. N. J ., to a point
4 184 feet east of W averly Station, near Newark, and from a point 4,037
feet east of W averly Station to the bulkhead line at Greenville piers on New
York Bay, 10.98 miles, with 3 branches, 2.59 miles; total, 13.57 miles.
S tock, $6,000,000, all owned b y Pennsylvania R R . In 1908 made a mtge.
to secure $6,000,000 bonds, of which Penn. ItR. Dec. 31 1908 owned $3,
635,000. V . 86, p. 920, 982.— (V . 86, p. 920, 982.)
NEW Y O RK BRO OKLYN & MANHATTAN BEACH RY.-—Owns from
Fresh Pond Junction to Manhattan Beach (Coney Island) .a n d branches to
Bay Ridge and Greenpolnt, 19 miles, o f which 16 miles double track.
L E ASE , & c.— A consolidation A ug. 27 1885. Leased i r 99 years from
Oct. 1 1885 to the Long Island R R . C o., which owns m ajority of stock.
Rental, Interest on bonds an(l 5% on pref. stock. Common stock, $Jo0,000.
L. I. R U . has attached to the bonds its unconditional guaranty of principal
and Interest In addition to facts as to lease. (V. 83, p. 1348.)
NEW YO RK CENT. & H U D . R I VER R R .— ( S e e M i p s . p p . 96. 97.)
i iNn.,..
M il e s
O vper
a te
d u n d eerr c o n t n c t —
era
ted
L
e s ow n e d .
15
New York to B u ffa lo .................. 441 Terminal R y . of Buffalo*_____
St.
Lawrence
&
A
d
iron
d
a ck *..
56
Branches _______
065
36
Proprietary lin e s .........................
J Cherry Tree & D lxonvllle____
T ra ck a g e ..... .................................. 2 3 7
L i n e s l e i s e d . (*See this co.) ,
W est Shore* ................................. 479
Total In earnings___________ 3,781
T roy A Greenbush*___________
6
C o n tr o lle d — O p era ted S e p a r a te ly
Spuyten Duyvll & P t. M .*-----New York A H arlem *................ 137 Lake Shore A Mich. Southern*. 1,511
1 745
New Jersey Junction*................
5 Michigan Central*__________
R om e W atertown A Ogden*___ 624 Lake E. Alliance & W h eelin g.. ' 8 8
Mohawk & Malone*___________ 182 N. Y . Chic. & St. Louis R R . * . . 523
Carthage A A dirondack*............
46 Lake Erie A W estern *............. \
New York A P utnam *_________
59 Northern O hio*........................ j 8 8 6
Boston & A lb a n y * ....................... 393 “ Big Four” S ystem *------------------2 , 3 3 4
New York A O ttaw a*................ 120 Chicago I ndlana & Southern*. . 341
248
Fall Brook R y .. A c .* ................ 2.11 Cincinnati Northern*................
91
Beech Creek R R .* ...................
16o Dunkirk A ll. Val. & Pitts.*
191
Beech Creek Extension R R ., ___ Pitts. & Lake Erie system . . .
468
e t c .* ............................................ 128 Rutland R R ......... ................. .
14
Wallkill V a lle y .............................
33 Little Falls & D olg evlllc______
Chicago Kalamazoo A Saginaw
55
Detroit & Charlevoix_________
44
Indiana Harbor B elt..................
103
Total Jan. 1909, less 140 m. duplicated (338 miles 4-tracked)............12,284
Ju
ly
, 19 0 0 .]
K A IL W A Y
STO C K
A N D
BONDS.
93
94
R A IL W A Y
STO C K S
A N D
IN T E R E S T
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , A c . , s e e n o te s
o n fir s t p a g e o f ta b les
New Orl & N E (C o n c l ) — Gen M $8,000,000 g
Incom e mortgage (non-cum) $1,500,000 g o ld — N.r
Equipm ent notes gold due $39,000 sem i-annu ally-New Orleans Term — 1st M $15,000,000 g g u ar.S .c* &r
' Notes guaranteed gold --------------------------------------------New York B ay— First mortgage $6,000,000 g o ld --O P
N Y Bklyn & Manhattan Beach— Pref stock non -cum .
First cons M (now 1st M) gold guar by L I ____Ce.c*
N Y Cent & Hud River— Stock ($250,000,000 auth) -Tr
Refunding mortgage $100,000,000 gold ___Ce.c*& r
Coll trust g ($100,000,000) Lake Shore s tk -.G .c * & r
do do ($21,550,000) M idi Cent s tock _______ G
Mtge on Gen Corn & Sou $10,000,000____________ F
Mtge on Spuyten D & P M $20,000,000-------------- Ce
Debentures (V 69, p 1102; V. 71, p 502, 9 6 4 )-----Debentures $50,000,000 gold ____ ________ Us.c*&r*
Notes $25,000,000...................
-.c * & r
New York Central Lines—
Joint eq tr g $2,000,000 an(V 86, p 800, 920) -G .c*& r
N Y Chicago & St Louis— 2d pref stock (5% non-cum)
First preferred (5% non -cum ulatlve)_______________
First mortgage gold sink fund not d r a w n ..C c .c '& r
Debenture bonds $10,000,000 gold ----------Gx.c*& r*
N Y & Greenwood Lake— Prior lien M gu p & I-N .gx c*
New York & Harlem— Common 1 4 % , 10% guaranteed
Preferred stock 1 4 % , 10% guaranteed--------------------R efunding mtge (now flrst) $12,000,000 g ..G .c * & r
N Y Lackawanna & W estern— Stock guar 5% (e n d )-Flrst mortgage guar b y Del Lack & W estern. _ F.c*
Construction mortgage guar by D L & W (en d ). F.c*
Third M Term Imp ($5,000,000) guar p & l (e n d )--F
New York Lake Eric & W estern— See Erie R R
N Y & Long Br— Gen M (now 1st) $2,500,000 g Ce.c*
New York New Haven & H artford—Stock (see t c x ) . .
Debenturcs ($5,000,000 are 4s) non -convertible.c& r
Deb (for Cent N E & W) g non-conv (V 78, p 768)
Debentures (for F H & W) (V 78, p 2335)................
Debentures (for N. Y . Ont & West) (V 80, p 2458).
Debentures convertible (see te x t)_____________ c*& r
M ile s
of
R oad
196
196
14
19
19
809
D a te
of
B on ds
1902
1902
1906
1903
1909
1908
1885
1897
1898
1898
1909
1909
1900
1904
1907
1907
505
53
146
146
136
214
214
214
214
38
1887
1906
1896
1897
1880
1883
1890
1891
’o'f-’ o i
1904
1904
1905
1906
S iz e, or
Par
V a lu e
A m ount
O u ts ta n d in g
%
R a te
W h en
P a y a b le
OR D IV ID E N D S
W h ere P a y a b l e , a n d b y
W hom
&
J Farmers’ L & Tr Co, N Y
4H g J
$1,000 $5,562 ,000
1.500 ,000 Up to4 X % gold (If earned) on Dec 1
1,000
4 X g A & O Franklin Trust Co, N Y
312 ,000
1,000
J
&
J Standard Trust Co, N Y
4 g
1.000 &c 10,000 ,000
A & O10 New York
5 g
3.000 ,000
1,000
J & J New York & Philadelphia
4 g
3,840 ,000
1.000 &c
A & O Checks mailed
5
650 ,000
100
A & O U S Mtge & Tr Co, N Y
5 g
1,726 ,000
1,000
Grand Cent Station, N Y
Q —J
100 178,632 ,000 See text
do
do
& J
3M g J
1.000 &c 89.000 ,000
do
do
F & A
3H
1.000 &c 90,578 ,400
do
do
F & A
3H
1.000 &c 19,336 ,445
4
3,744 ,000
2,500, 000
3 VS
do
do
J
& J
5.500 ,000
3H
1 bond
do
do
M & N
4 g
1.000 &c 43.000 ,000
do
do
F & A
5
1.000 ice 25.000 ,000
B on d s— P r in c i
p a l, W h e n D u e
S lo c k s — L a s t
D iv id e n d
Jan 1 1952
July 1 1952
Oct '09-A pr 13
July 1 1953
A pr 10 1911
Jan 1 1948
A pr 1909 2 ^ %
Oct 1 1935
luly 15 ’ 09 1 yx
July 1 1997
Feb 1 1998
Feb 1 1998
1959
Ju c 1 1959
July 1 2000
May 1 1934
Feb 1 1910
28.000 ,000
11,000 ,000
5.000 ,000
19,246 ,000
10,000 ,000
1.500 ,000
8,656 ,050
1,343 ,950
12,000, 000
10,000, 000
12,000, 000
5.000, 000
5.000, 000
5 g
5 In 1909
5 In 1009
4 g
4 g
5g
See text
See text
SH g
5
6
5
4
M & N
March
March
A & O
M & N
M & N
See text
See text
M & N
Q— J
J
& J
F & A
M & N
Guaranty Trust Co, N Y
Grand Cent Station, N Y
do
do
Union Trust Co, N Y
Grand Cent Station, N Y
50 Ch rch St. New York
Grand Cent Station, N Y
do
do
do
do
Del Lack & W estern, N Y
do
do
do
do
do
do
N ov
Mch
Mch
Oct
May
May
July
July
May
July
Jan
Aug
May
1909-1922
1 1909 5%
1 1909 5%
1 1937
1 1931
1 1946
1 1909 5%
1 1909 5%
1 2000
1 1909 1 H
1 1921
1 1923
1 1023
2,438,000
1,000
100 100,000.000
10,000,000
5,000,000
500 &c 10,000.000
15.000.
T o o &C 30.000.
4 g & 5g
8 in 1908
ays & 4
4 g
3X
000 4
000 a y s
M & S Liberty Nat Bank N Y
Q— M 30 Co’s office, New Haven
M & S Lincoln Nat Bank, N Y
do
do
F & A
A & O Second Nat Bank, N II
J
&
.1 Lincoln Nat Bank, N Y
J
& J Second Nat Bank, N H
Sept
June
Mch
Feb
A pr
July
Jan
1 1941
30 1909 2%
1 1947
1 1914
1 1954
1 1955
1 1956
1.000 &c
100
100
1,000
1,000
100 &c
50
50
1.000 &c
100
1,000
1,000
1,000
N Y. CEN TRAL & HUDSON R IVER RR — (Concluded.)
A lso controls Lake Erie & Pittsburgh R y ., com pleted from Lorain, O.*
southeast to Berea, 13 miles, and to be extended to Cleveland and Youngs
tow n, making about 120 miles In all. V . 83, p. 1037.
Owns an Interest In com m on stock of H ocking Valley R y ., which see.
In Jan. 1909 was authorized to purchase the $989,000 Spuyten Duyvel &
Port Morris stock at not over $230 per $100 share. V. 88, p. 375, 823.
The stockholders voted April 21 1909 to make a new lease of that roa 1
and of the Geneva Corning & Southern R R . V . 88, p. 823, 1128.
H IS T O R Y , & c.— Control o f the Lake Shore and Michigan Central roads
was acquired In 1898, as stated below. V . 71. p. 502; V . 78, p. 48.
In Jan. 1909 the holdings of the Vanderbilt Interests In C. & O . R y. stock,
about $8,000,000, were sold. V . 88, p. 375. Vanderbilt estate, V. 71,
p. 1221.
Since 1906 the allied lines, w ith the exception of the N, Y . Chicago
& St. Louis, are known as the “ New York Central” lines.
V. 81, p. 1792.
S T O C K .— Dlvs. on stock rcg. In London are payable at 49JSd. to the $•
Stockholders In 1906 subscribed at par for $29,839,560 new stock, rais
ing the amount outstanding to $178,632,000. V . 83, p. 688, 818, 1037.
D IV ID ’ DS. I ’ 94. ’ 95. ’ 96-’ 98. *99. ’00 t o ’ 06. ’ 07. ’08.
1909.
Since 1893 . . % !
5 4 ‘ ( 4 y ’rly 4
5 y 'rly
6 5M 1 K ,1 H , 1 M. (?)
In 1908, Jan., 1>4% ; A pril, I H % : July, l ' A % ; O ct.. 1 K % .
BONDS. — R e f . m o r tg a g e Is for $100,000,000, of which $73,346 000 was
Issued to retire $70,377,000 old bonds and $11,654,000 for general purposes,
remainder ($15,000,000) was reserved for new construction, of which $4,000,000 sold Feb. 1909. V . 77, p. 452; V . 86, p. 1043, 1101; V . 88, p. 506.
Collateral trust 3 ^ s o f 1898 are secured b y deposit o f stock of the Lake
Shore & Michigan Southern and Michigan Central R R s. at the rate o f $100
o f L. S. & M. S. stock for each $200 of bonds and $100 of Mich. Cent, stock
fur each $115 o f bonds outstanding. See V . 66, p. 288, 336, 760, 811.
In 1904 $50,000,000 4 % debentures were authorized, of which $30,000,
000 were sold In 1904 and $13,000,000 In 1908. They are to be secured
by any new mortgages, but existing mortgages may be extended. V. 78,
p. 1907, 1962, 2384; V . 79, p. 1335, 2148; V . 86, p. 1043, 1101, 1467;
V . 87, p, 415, 614.
In 1909 made a new mtge. on the Geneva Corning & Southern to secure
an authorized issue of not exceeding $10,000,000 bonds bearing 4% In
terest, to retire outstanding bonds and for extensions and Improvements,
o f which $3,744,000 to be Issued at present. V. 88, p. 1128. Also on the
Spuyten Duyvlt & Port Morris for an authorized amount of $20,000,000, of
which $2,500,000 3 ^ s will be Issued at once, m ostly to refund Indebtedness
to N. Y . Central. V. 89, p. 105.
As to equipment trust of 1907. see "N ew Y ork Central Lines” below.
G U A R A N T IE S .— The com pany guarantees the securities of Its leased
lines to a considerable aggregate— see separate statement for each com pany
In the table of mileage preceding. It also guarantees Western Transit Co.
3 ySs for $1,000,000 due Feb. 1923.
G E N E R A L F IN A N C E S .— The refunding of old bonds was com pleted In
1905; annual saving In Interest charges about $1,475,000.
In Jan. 1907 the dividend rate was raised from 5 to 6% (but again reduced
to 5% In April 1908), and the dividend rates on the Lake Shore and the
Michigan Central from 8 to 12% and 4 to 6% respectively. Increasing the
Income of the Central from Its holdings of the stocks of the two companies
$2,147,754 yearly. Jan. 1908 2% extra was paid on Lake Shore & Mich.
Central stocks. V. 83, p. 1411; V . 85. p. 1577.
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.
In April 1908 $13,000,000 4% debenture bonds were sold. V. 86, p. 982,
1467. In Feb. 1909 $4,000,000 3 lA % 1st mtge. bonds were sold.
In March 1909 awarded order for rolling stock aggregating over $8,000,
000, anil 101,000 tons of steel rails for 1909 delivery, and In the llscal year
1909-10 contemplates Improvements to cost $21,488,475. V. 88, p. 624,
1254; V. 89, p. 104.
In 1902-03 control o f the Reading Co. was acquired b y Balt, tc Ohio
(Pennsylvania Interests) and Lake Shore. V. 76, p. 101; V . 78, p. 48.
In 1906 the Oregon Short Line (Union Pacific system) acquired $14,285,
745 N. Y. Central stock. V . 84, p. 52, 571.
The Mohawk Valley C o., with $20,000,000 stock (60% being owned by
N .Y .C ent. and 40% by the “ Central Railway Syndicate" o f Cleveland)was
a holding com pany for various electric roads acquired In 1004 and 1905,
aggregating 389 miles In length. Including Syracuse Rap. Tran., Rochester
& Eastern Rapid, R och. R y. & Light, Schenectady R y. (half Interest). <5cc.
V . 81. p. 1849. In March 1909 all except the Schenectady and Syracuse
roads were consolidated Into the New York State R y s., per plan In V. 87,
p. 544; V. 82, p. 16, 334, 934; V. 83, p. 156; V . 84, p. 1308; V. 87, p. 53;
V . 88, p. 761, 823, 945, 1500.
As to contract of 1903 with Pennsylvania Beech Creek & Eastern Coal
Co. to ship 1,000,000 tons annually, see V. 77, 2098; V. 79, p. 1335, 1435.
E A R N IN G S .— 5 m os., 1 1909............Gross, $34,877,861; net, $9,255,807
Jan. 1 to May 3 1.
J 1908----------Gross, 31,366,655; net, 6,6t7,564
A N N U A L R E P O R T .— R eport for year ending Dec. 31 1908 was given
at length In V . 88, p. 742, 760. See also editorial, p. 718.
C o m b in e d R es u lts O F A L L I E D L I N E S .
(Compare V . 88, p. 818, 794.)
Y r . e n d . D e c . 31—
1008.
1907.
1906.
1905.
Mites o p e ra te d _____
12,283
12,282
12,159
12,028
Gross earnings_$ 214,714,599
$241,456,945 $225,591,500 $206,728,132
T o ta l net Income . . . 70,596,387
72,821,957
68.329,446
61,324,129
First charges.. 50,131,564
46,852,948
43,351,256
41,396,188
D iv id en d s...... 18,291,860
23,426,623
18,009.178
15,419,279
S u rp lu s ...................... $2,172,963
$2,542,385
$6,969,012
$4,508,662
N o t e . — The “ net Income” as above Is stated after adding to the operating
expenses for the several years from $10,500,000 to $13,700,000 (In 1908
S 4*189,936) for new equip, and construction, and after adding to net earns,
“ other Income” amounting to $10,764,012 In 1904 and rising to $18,362,217
n 1907, being $16,113,856 In 1908.
[VOL. LXXXIX.
BO ND S
REPORT
OF
NEW
YORK
CENTRAL
A
HUDSON
R IV E R
RR.
1908.
1907.
1906.
1905.
3,781
3,782
3,784 , 3 - 7 7 4
Miles o p e ra te d .....................
Gross ea rn in g s__________$88,849,368 $98,369,060 $92,089,769 $86,095,602
Net earnings_____ ______ 23,430,283 22,565,726
25,827,813 24,594,851
Other In co m e .................... 10,371,079 11,476,051
7,707,742
6,523,500
Net Incom e.................. $33,801,362 $34,041,777 $33,535,551 $31 ,118,351
,223,557
Interest on d e b t_________ $9,454,610 $9,259,569 $8,214,520
9,501,170
,508,499
9.632.266
Rentals leased lines____ 9,760,285
1,011,557
,143,438
764.610
Taxes on s to ck _________
599,751
2,924,594
,726,021
2,511,070
Taxes on real estate-----3,483,135
1,231,391
,236,081
1,089,804
M iscellaneous__________
1,421,704
150.000
Reserved for debentures
......................... ...........
,
D iv id e n d s__________(5 % )8 ,9 3 1 ,6 0 0 ( 6 ) 1 0 ,7 17 ,920(5^ )7832885(5)6, 612,500
Im prov’ t fund & equlp’t
_________
_________
2 ,8 0 0 ,0 0 0
1 500.000
B a la n ce.........................
$144,277
$66,538
$19,433
$18,253
President, William C. Brown; Chairman, Chauncey M. Depew; Vice
Presidents; E. V. W . Rosslter, Alfred H. Smith, John Carstensen, Clias.
F. Daly and Ira Place: Treas., E. L . Rosslter; S ec., Dwight W . Pardee.
Directors (April 1908), W . K. Vanderbilt, F. W . Vanderbilt, C. M. Depew,
J. Plerpont Morgan. William Roekefeller, Hamilton M cK .T w om bly, W il
liam H. Newman, E. II. Harrlman, W in. C. Brown, D. O. Mills, Geo. F.
Baker, George S. Bowdoln and .las. Stillm an.— (V. 89, p. 104, 225.)
NEW YO RK CEN TRAL LINES.—
____ _
„„„ „„„
The New York Central Lines equipment trust of 1907 ($30,000,000 t tal
Issue) mature $2,000,000 yearly to N ov. 1922. They will cover engines,
passenger cars and freight cars to be used by various lines of the system ,
which Jointly and severally agree to pay prln. & int., the larger part being
for N. Y . C. and Lake Sh. V. 85 p. 1402; V. 86. p. 168, 798. 800, 920. 1344;
V. 88. p. 761.
NEW YO RK CHICAGO & ST. LOUIS R R . — (S e e M a p o f N ew Y o r k C e n
tral A H u d s o n R i v e r . ) — Owns from Buffalo, N. Y ., to Illinois State Line, e x
cept 8 m. leased bet. Dunkirk and Sliver Creek, leaving 494 m .; leases the
proprietary line. Chic. & State Line I (R ., 111. State line to Grand Crossing,
10 m .; also leases Dunkirk to Silver Creek, 8 m .; total, 512 m .; trackage In
Buffalo, N. Y ., 1 H m ., and Gr. Cross’g, Cldc., 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 stock, all classes of stock share alike.
D IV ’ S .— '94. ’ 95. '96. ’ 97. ’ 98. ’ 99. ’ 00. '01. ’02 to '06 ’ 07. ’08 ’ 09.
5
5
0
5
5
5 5 yearly
5
0
2
0
1st pf. (M ch ). 4
4
5
5
2 3 yearly
2d pref (Mch) - B O N D S.— Amount sink, fund for first m tge. bonds $100,000 (so long
as the bonds could be bought at or below 102) decreased the amount o u t
standing from $20,000,000 to $19,216,000. .See mtge. abstract, V. 45, p.
5 4 1 . The $10,000,000 debenture 4s sold for equipment, & c ., will be secured
by any new mtge. Equip, trust 5s, $48,000; 4J^s, $60,000. V. 82, p. 693;
V. 86, p. 1344, 1590; V. 88, p. 565, 1062.
E 4.R N IN G S,— 5 m os., 1 1909______ Gross, $3,930,125; net, $1,059,364
Jan. I to May 31.
J1908______ Gross, 3,876,905; net,
952,302
R E P O R T .— Report for 1908 was In V. 86, p. 1057. Principally a freight
line, freight in 1908 contributing $7,939,037 out of $9,435,557.
1906.
Y e a r e n d . D e c . 31—
1908.
1907.
1905.
Gross earnings r ..............$9,435,567 $10,465,671 $9,902,209 $9,108,730
Operating expenses------ 7,359,968
7,173,227
7,227,581 6,753,607
Additions & betterm ents
................
893,584
632,889
537,341
Net earnings................ $2,075,589 $2,398,860 $2,041,739 $1,817,782
Other In co m e ..................
55,335
19,213
47,807
30,716
Net (Incl. oth. Income) $2,130,924 $2,418,073
$868,467
Interest on bonds---------117,034
Equip, trust c h a r g e s ..94,874
250,000
Dlv. on first pref., 5 % - 2o0,000
Dividend on 2d p ref. ..( 5 % ) 5 5 0 ,000 (5)550,000
131,543
Sink, fund and m ls ce ll..
74,020 __________
$2,089,546
$776,720
166,105
250,000
(4)440,000
59,019
$1,848,498
$777,000
170,057
250,000
(3)330,000
31.078
Balance, surplus-------$187,909
$501,030
$397,702
Pres., W m . II. Cannllf.— (V. 88, p. 506, 505, 1057, 1062.)
$290,363
NEW YO R K & GREENW OOD LAKE R Y .— (S e e M a p o f E r i e R R . ) ~
Owns from Jersey City, N. J ., to Greenwood Lake, 30 m . , and branches to
RIngwood. & c., 8 m .; W atchung R y ., Forest Hill to Orange, N .J ., 4 miles;
total owned, 51 miles. Stock, $100,000; par, $50.
L E A S E .— On May 1 1890 was leased to the Erie R R . for 999 years from
May 1 1896. Prior Hen bonds are guaranteed, principal and Interest, by
Erie. See V. 63, p. 513; form of guaranty, V . 65, p. 463.
NEW YO RK & HARLEM R R .— (S e e N . Y . C e n t A I l u d . R iv . R R .) —
Owns N. Y . City to Chatham, N . Y ., 136 m. Also owns 4th A ve. St. R R .
L E A S E .— The property (except the street railroad) was leased April 1
1873 for 401 years to the N. Y . Cent. & Hud. R iv. R R . for Interest on bonds
and dividends at rate of 8 % yearly, since Increased to 10% through refund
ing of bonds, payable Jan. and July. V. 70, p. 740, 1049; V. 71, p. 29, 1220;
V 84 p 1 5 9 . 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, paid April and O ct. to Oct. 1908. In April 1909 no disbursement
was made, special franchise taxes assessed against the street railway com
pany amounting to over $800,000 being In litigation, for which no provision
has been made In case they are held valid. V. 62, p. 1088; V . 88, p. 749.
— (V. 84, p. 159; V. 88, p. 749.)
NEW YORK LACKAW ANNA & W ESTERN R Y .— Binghamton to Buf
falo and Internat. Bridge and branches, 214 m ., of which the main lino, 213
m ., Is iloubie track; D. L. & W . has a lease for duration of charter from Oet
1882, giving a guaranty of the bonds and 5% yearly on the stock. See form
of guaranty of terminal bonds In V. 67, p . 1357; see also V. 68, p. 283.
Ju
ly
, 1!)09.
R A IL W A Y
STO C K S
A N D
BONDS.
R A IL R O A D S
F o r e x p la n a t io n o f c o lu m n h e a d in g s ,
o n fir s t p a g e o f ta b les
cfee., see n o tes
N Y New Hav & H — (Con)— Debentures not con vcrt.
Debentures 145,000,000 francs ($ 29 ,00 0 ,0 0 0)-.
M il e s
of
R oad
D a te
of
Bonds
1906
1907
1908
1892
1880
1880
1887
1895
1889
1888
1892
1880
1883
1905
1881
1904
1890
1904
1902
1905
1906
IN T E R E S T
S iz e, or
Par
V a lu e
Am ount
O u ts ta n d in g
500 frs&c
100 &c
1,000
1,000 &c
500 A c
1,000
1,000
1,000
1,000
1,000
1,000
1,000
R a te
%
OR D IV ID E N D S
W h ere P a y a b le, an d by
W hom
B on d s— P r in c i
p a l., W h en D u e
S to c k s — L a s t
D iv id e n d
$15,000,000
4
M & N
May 1 1956
27,985.000
4
A & O
A p r 1 1922
&c
3 8,5 '5 ,4 0 0
6 g
J A J 15
Jan 15 1948
1,000,000
4 g
A & O
A pr 1 1942
200,000
M & s Nat N H Bk, New Haven Mch 1 1910
4,4
100,000
4
A & 0 New Haven, Conn
A pr 1 1910
2,839,000
A1 & N Farmers’ L & Tr Co, N Y N ov 1 1937
5 g
17,500,000 4 g & 5 g J
& J Safe Dep & Tr Co, Boston July 1 1945
1,500,000
4
A & o Coup, office: reg. mulled A pr 1 1939
575,000
5
M & N New H aven, Conn
May 1 1918
750,000
&
J
J Lincoln Nat Bank. N Y July 1 1922
5 g
500,000
5 &6 J
& J New H aven, Conn
July 1 1920
150,000
5
A & O
do
do
A pr 1 1925
350,000
J
& IJ
4 g
do
do
June 1 1955
221,000
4
& D
J
leal Nat Bank. N Y June 1 1911
15,000,000
M & N
4 g
May 1 1954
100,000
5
A & O
Oct 1 1910
2,500,000
M & N
4 ?
May 1 1954
234,000
A & O
34
Oct 1 1930
3,777,000
F & A
4 g
Aug 1 1955
M & S
4,000,000
4 g
do
do
Mch 1 1956
.
See text
19,899,000
M & N
4 g
May 1 1957
&
4,000.000
4
J
J
J ly 1909 2%
3,387,950
4
J & J1
July ’09, 2
12,491 ,378
& J
44 g J
Jan 1 1951
290.000
M & s!
5g
Sept 1 1912
9,270,000 4. 4 4 , 5 Various |
1912 to 1951
See text
4 to 6
Various
1914 to 1932
See text 4 4 . 5& 6 Varlo JS
1912 to 1934
62
49
Shore Line 1st M New Maven to New London assum
90
H ousatonlc old consolidated mortgage (assum ed). .
90
New consol M ($3,000,000) gold (assum ed)--F .c*
359
N Eng cons (now 1st) M $7,500,000 5s g gu-./Vla.c*
N Y A N E Boston Term 1st M $ 1 , 5 0 0 ,0 0 0 . AB.c& r
13
New Haven & Derby consolidated m ortgage------ c*
28
Providence A Springfield 1st M gold assum ed------ c*
36
Danbury A Norwalk cons M ($100,000 are 6 s)— c*
36
Gen mtge Danbury, Conn, to W ilson Pt &c — c*
36
First ref mtge (V 82, p 210) gold a ssu m ed -.c*& r
12
1,000
Harlem Hlv A Port 2d (now 1st) see t e x t - .F . c & r
12
1,000 A c
Harlem R lv A Port 1st M gold $15,000,000. Us.c* &r
9
1,000
W oonsocket & Pascoag first mtge gold assum ed-----61
1,000 &c
Naugatuck first mortgage gold assumed----------c*& r
Debentures-------- --------------------------------------------------Boston A N Y Air Line new M $5,000,000(assumed)
1,000
Providence Term 1st M $7,500,000 g assutned.c’ &r
...
1,000 &c
Consolidated R y debentures....................................
Providence Sec Co deben $19,910,000 g gu p A 1
1907
1,666
New Eng Inv A S pf stk 4% cum $10,000,000 redl05
100
Springfield R y 4 % cum pref stk red 105 g u a r ---------100
Conn R y & Ltg 1st A ref M $15,000,000 g s f-.T a .C *
1901
...
1,000
R oxb u ry Central W harf first mortgage gold n o te s ..
Bonds of electric roads merged ($4,798,000 are 5s)
Var
Other bds of elec rds leased or contr(See “ E lR ySec”
Var
Bonds of steamship, &c, companies con trolled____
Var
...
B o n d s o f L e a d in g P r o p r i e t a r y , A c . , L in e s
N i l A N orth. Northern Extension b o n d s ............c*
28 1881
1,000
700,000
5
Refunding mortgage $10,000,000 guar prln A n t .
1906
2,400.000
4
Ilolyoke A W M $260,000 auth(V 87 p 544) g u .c*
16 1891
1,000
200,000
4
Old Colony— See that com pany.
Providence & W orcester first mortgage currency___
51 1897
1,000
1,500,000
4
New York Ontario & INcstern— Common s to c k ______
100 58,113,982 See text
Refunding (first) mtge $20,000,000 gold ..-A \ e.c*& r T ext
1892 t,000 &c 20,000,000
4 g
Gen mortgage $12,000,000 gold red 110 (see text) N
1905
. . .
1,000
3,948,000
4 g
NEW YOR K & LONG BRANCH R R .— Perth A m b ov to Bay H ead, N. J .,
38 miles. Operated under an agreem ent made In 1888 for a period of 99
years with Penn. R R . and Cent. R R . of N. J ., which Jointly and severally
guarantee interest and 7% on the $2,000,000 stock, all owned by Central
R R . of N. J. Of the bonds $192,000 are 5s.— (V. 72, p. 438.)
W h en
P a y a b le
A
&
&
A
&
J
o Treas, NewHaven, Conn A pr 1 1911
D
do
do
June 1 1956
A pr 1 1911
O
do
do
A A O R I Hosp A Tr Co, Prov
See text Checks mailed
M A
s
, 56 Beaver St, N Y
J A D
3o
do
Oct
Aug
June
June
1
9
1
1
1947
1909 2%
1992
1955
the main lines between W oodlaw n, N. Y . City, and Springfield, Mass., or
New H aven, Conn , and P rovidence, R . I. V . 85, p. 1270, 1339,1402, 1647.
O u ts ta n d in g D eb en tu r e s I s s u e d A A s s u m e d b y th e C o m p a n y a s o f J u n e 30 1908.
O u ts ta n d in g . M a t u r it y .
O u ts ta n d in g . M a t u r i t y .
C o n v e rtib le D e b e n tu r e s —
5-year 5 % ------ 6,400,000 Jan. 9’ 12
- - -
NEW YO RK NEW HAVEN & H ARTFO RD R R .— Covers Southern New 3 >4 % 1906. .$29,970,200 Jan. 1’56 European 4 % 27,985,000 April 1’ 22
do warrants.
29.800 Jan. 1’ 56 3-year 4 4 % .
2,000,000 May 5’ 11
England and the only direct routes between New York and Boston:
N o n -c o n v e r tib le —
D e b e n tu r e s A s s u m e d —
L i n e s O w n ed in F e e —
M ile s .
L e a s e d ( p a r t O w n ed ) —
M aes.
4%
1
9
0
4
.
.
.
.
5,000,000
Feb. 1 ’ 14
Junction near N. Y . City to
Old Colony R R . (which se e )___ 619 4 % 1897_____ 5,000,000 Mch. 1’47 Naugatuck R R .
3
>4% 1902.
‘ ...........“
234,000 O ct. 1’ 30
Springfield, Mass______________ 122
L in es L ea sed —
3 4 % 1 9 0 1 ... 5,000,000 Mch. 1’ 47
St. R y.
Boston, Mass., to Hopewell Jet.,
Providence and W orcester-------48 3 4 % 1 9 0 4 ...1 0 ,0 0 0 ,0 0 0 April 1’54 H artf’d
4 >4% “ N” .
145,000 Jan. 1’30
N. Y ........................................... .. .2 1 4 Norw. A W orcester (which see) 72 4 % 1905.......... 15.000,000 July 1’ 55
4%
.. “ M ” . . .
165,000 Jan. 1’ 30
Lines to Providence, Pittsfield,
Other lines_____________________ 321 4 % 1906.......... 15,000,000 May 1’56 Cons.
R
y
.
(see
V.
84,
p . 1114) —
Litchfield, &c ............................. 428 Track to N .Y .C lty,& C .(V .88,p .53) 43
N o t e s , A c . , D a te d 1907 and 1908 —
4%
1 9 0 4 ... 4.354.000 July 1’ 54
L e a s e d a n d C o n tr o lle d —
3-year 5 % ------ 3,500,000 Jan. 9’ 10
4%
1 9 0 5 ... 2,350,000 Jan. 1’ 55
Lines to Turner’s Falls, & c-----------180
3year 5 %
50,000
Jan.10’
10
4%
1 9 0 5 ... 1,341,000 April 1’55
Total operated July 1908 (99 m. has four and 767 m. two tracks)------ 2,047
Jan. 9’
11
4year 5 % 1,350,000
4%
1 9 0 6 ... 2,108,000 Jan. 1’56
In April 1908 New England R R . was merged. V Y 86, p. 1043, 1225. 5year 5 %
300,000
Jan. 1'12
3-3J4-4% ’ 05 1,000,000 Feb. 1’30
In June 1907 an amount of Boston & Maine stock ($10,994,800) was e x
In March 1909 $5,000,000 one-year 4% coupon notes due March 1910
changed, share for share, for New H av. stock, but sold July 1908. V . 84, were
sold (denominations $1,000 to $100,000; lnt. M. A S .). V . 88, p. 749.
p. 1367; V . 85, n. 41, 160. 859, 1519; V . 86, p. 721, 1467; V . 87, p . 97 1089.
E A R N IN G S .— 11 m os., 1 1 9 0 8 -0 9 ...Gross, $49,520,363; net, $16,014,481
1420, 1479; V. 88, p. 506, 1621.
July 1 to May 31.
/1 9 0 7 -0 8 ...G ro s s, 48,692,881; net, 13,748,684
In June 1909 the Boston Railroad Holding Co. was Incorporated In Massa
F or 9 mos. ending March 31 1909, net, $12,651,122, against 511.119,744;
chusetts, to take over the B. A M. stock sold b y the New Haven road and
other B. & M. stock acquired b y the same Interests, the New Haven road other Income, $5,020,680; charges, $14,829,022 bal., sur., $2,842,780.
to acquire the stock of the Holding Co. and guarantee Its securities. V. 88,
A N N U A L R E P O R T .— R eport for 1907-08 In V. 87, p. 869. Owing to
p. 1621; V. 89, p. 163.
In Get. 1904 $29,160,000 of the $58,118,982 N. Y . Ont. & W est. com . changes In accounting, comparisons with earlier years are Inaccurate.
Y e a r e n d . J u n e 30—
1908.
1907.
1906.
1905.
stock was acquired at $45 per $100 share and $2,200 of the $4,000 pref.,
2,047
2,060
2,057
2,088
Miles operated.................
giving access to anthracite mines. V . 79, p. 2086, 2642; V. 80, p. 1363.
Early in 1901 acquired a m ajority of stock and Income bonds of Cent. New Passenger earnings............$26,279,301 $26,758,929 $25,252,124 $24,146,454
Freight
earnings...............
25,281,435
28,386,704
27,247,118
25
341,855
England R y ., which see V. 84, p. 1488: V . 85, p. 160, 858.
M iscellaneous.................... 1,489,411
456,303
485,080
493,638
In O ct. 1906 acquired control o f Hartford & New York Trans. C o.,
which absorbed the U. S. Transportation Co. In March 1907 purchased
Gross
earnings.............
$53,050,147
555,601,930
552,984,322
$49,981,947
one-half of the stock of the Merchants' A Miners’ Transportation C o.,
Net earnings...................... $14,830,590 $17,751,855 $17,761,736 $14,148,924
which acquired the Boston A Philadelphia S. S. Co. V . 83, p. 890; V . 84,
Net earns, street ry s____
2,745,758
3,615,900
.............
p. 221, 271, 391, 571, 626, 749; V . 85, p. 858; V. 86, p. 721; V . 88, p. 1002. Net
earns. SS. lines____
498,674
635,127
...................
E le c tr ic R a ilw a y s — May 31 1907 the Consolidated R y ., a consolidation of
Net outside op e ra tio n s.. 1,212,089
. . .
. . .
various controlled electric railways, chiefly In Connecticut, aggregating Other incom e..............
3,862,151
2,077,874
2,175,757
1,223.452
about 700 miles of track, purchased the property o f the New England
Navigation C o., owning the Fall R iver and other steamship lines; Its capital
Total net Incom e_____ $23,155,262 $24,080,756 $19,937,493 $15,372,376
stock, as then Increased from $10,000,000 to $30,000,000, was exchanged
Interest on bonds............. (87,556,045 55,732,743 $3,005,793/ $1,432,473
by the N. Y . N. H . A H . R R ., as owner thereof, for Its own stock to an Other Interest__________ /
435,385
I
equal par value, which, going Into the treasury o f the railroad, was availa Rentals o f leased lin e s .. 4,581,182
5,604,846
3,935,594
4.130.843
ble for sale. V . 84, p. 1052, 1114, 1242, 1308, 1424; V . 85, p. 859.
Taxes ........................
3,338,300
3,592,230
2,810,729
2,659,624
In 1906 m ost o f the com pany’s Mass, trolley roads were transferred to»the Oth. rents. A guar. d lv . 1,784.299
New England Investm ent A Secur. C o., a voluntary association. (V. 83, p.
Hire of equipm ent_____
628,861
90, 380, 492, 81 f, 1099; V. 84, p. 103, 1052; V. 87, p. 107: V. 88, p. 157, 1002
Dividends ( 8 % ) ..........
7,783,262
6,904,988
6,467,092
6,400,000
In Dec. 1906 Consol. R y. leased Conn. R y. & Ltg. C o., operating 193
______
Im prov’ ts & betterm ’ ts .
3.000,000
miles. (V . 83, p. 1525; V . 84, p. 508.) Also In Dec. 1906 acquired control
M iscellaneous__________
______
257,889
326,998
o f the Rhode Isl. Sec. C o., controlling the street railways (311 miles),
gas and elcctrlc-light properties of Providence and vicinity, $19,898,000
Balance, su rp lu s.. def.$2,516,693 $1,988,054
$391,287
$308,051
Providence Sec. 4 % debentures being guaranteed, principal and Interest.
O F F IC E R S .— Pres., Chas. S. Mellon, New Haven: Sec., John G. Parker;
V . 83, p. 1525: V . 84, p. 1114; V . 85, p .8 5 8 . See "E le c t r ic Railway S ection.’ ’
In July 1909 large blocks of United Traction & Electric Co. o f Providence Treas., Augustus S. M ay, New H aven, Conn.
stock (total outstanding $8,000,000) was acquired on the basis of 8 shares
Directors.— William Skinner, H olyoke, Mass.; Jas. S. Elton, W atcrbury,
for 5 shares o f New Haven stock. V . 89, p. 105. In May 1908 the Su Conn.; Chas. S. Mellen, New Haven, Conn.; J. Plerpont Morgan, William
preme Judicial Court of Massachusetts declared Illegal the control o f 6 Rockefeller, H. McIC. T w om bly, George McC. Miller, Lewis Cass Ledyard,
trolley roads, which. It Is said, have all been disposed of. V. 86, n. 1285,
Charles M. Pratt, New York; D. Newton Barney, Farm ington, Conn.;
1590; V. 88, p. 507, 625, 945, 1621; V. 89, p. 163.
Amory A. Lawrence, Nathaniel Thayer and Alexander Cochrane, Boston:
On Juno 30 1007 there were outstanding bonds of electric roads leased R . W . T a ft, Providence; C. F. Brooker, Ansonla, Conn.: I. De V, W arner,
or controlled, other than of Providence Securities and Conn. R y . <N Ltg. Co.,
Bridgeport; James McCrea, Philadelphia, Pa.: James S. Hemingway, Geo.
shown In table above, aggregating $24,729,700, and bonds of steamship J. Brush, Fredk. F . Brewster, A. Heaton Robertson, J. G. Parker, E. D .
&o., companies controlled, aggregating $2,883,000. No details given In R obbins, A. S. May, New Haven; Frank W . Cheney, South Manchester;
later report.
Edwin Milner, Moosup, Conn.; John H. W hittem ore, N augatuck, Conn.;
Owns practically all the stock of the N. Y . W estchester A Boston and H enry K . McIIarg, Stam ford, C onn.— (V. 89, p. 104, 163, 225.)
N. Y . A Port Chester railroads, projected electric roads between 177th S t.,
N. Y .,a n d Mt. Vernon, & c., original controlling Interest being acquired for
NEW YORK ONTARIO & W ESTERN R Y .— Operates from W cehawken.
$11,762,48.3. V. 85, p. 1143; V. 86. p. 108, 169; V. 87, p. 415, 480, 870; opposite N. Y . City, to Oswego, on Lake Ontario:
V. 87, p. 1420, 1421; V. 88, p. 507, 625.
R o a d O w n ed —
M ile s .
R oa d C o n tr o lle d , A c .—
M ile s .
Oswego to Cornwall,N. Y _______ 272 Pecksport, Conn, (leased)_______
4
S TO C K .— Authorized Issue unlimited. Outstanding, sec table.
Branch to New B e r lin ___________22 Ontario Carb. & S. (leased),
do
to Delhi_________________ 17
D IV ID E N D S .— ) 1873-1893.
Cadosla, N. Y ., to Scranton, Pa. 54
1894.
1895 to J u n e’ 09 (Inclusive).
P e r c e n t .................... J 10 yearly.
do
to E llen vllle____________ 8 Rome & Clinton (leased)_________ *13
9
8 (2% quarterly).
Utica Clinton A Bing, (leased)___*31
BO N D S.— Harlem R iver A Portchester Dlv. 4s of 1904 ($15,000 000
Total ow ned....... ......................... 319 W harton Valley (ow n ed )_________ 7
Issued) are subject to 4s due l o l l , but cash has been deposited to cover T r a c k a g e (0112079) W .Shore R R .:
Eliensvllle & Kingston (le a s e d ).. 27
principal and interest of latter to m aturity. V. 85, p. 1143.
C’nwall to W ’ken (V .61,p .4 2 5 ). 53 Port Jervis Mont. & Summltvllle
In April 1908 sold or contracted to sell $2,000,000 short-term notes and
* See this com pany.
(owned and leased)--------------------38
$9,000,000 treasury bonds (Including, it Is understood, $4,000,000 Harlem
River A P ortC hestcr, $3,000,000 New Haven & Northampton and $2,000,Total operated July 1 1908......
546
OOOof Boston & New York Air Line) In order to pay oil between $11,000,000
C O N T R O L .— In Oct. 1904 N. Y . N. H. <fe H. R R . acquired $29,160,000
nnd $12,000,000 securities maturing to Jan. 1 1010, Including $8,320 000
com
.
stock
at
$45
per
share
and
$2,200
o
f
the
$4,000
pref.
V
.
79,
p.
2086.
2-year notes due In fall of 1908. V. 86, p. 1101, 1225; V . 87 p 870
2643: V. 80, p. 1363, 2458: V. 81, p. 1044.
Under lease “ assumed” debt o f Old Colony.
S T O C K .— Stock Is $58,117,982 (par, $100). of which $4,000 Is old pref.
Stockholders of record Dec. 31 1905 subscribed at par, payable In Install
ments to April 1 1908, for $29,997,300 of 314% coupon debenture certfs.
D IV ID E N D S .— C om ., Jan. ’05, 3 % ; July, 1 4 % ; ’06 t > ’0.1, 2% each.
convertible at a par of $150 for $100 stock between Jan. 1 1911 and Jan. 1
BONDS. A c . — R e fu n d in g m tg e. for $20,000,000 covers 319 miles o f road
1916, the proceeds to be used for Improvements authorized and contem
ow
ned, all the securities of the Ont. Carb. & Scran. R y ., 54 miles, and all
plated and the purchase of outstanding securities o f controlled roads. V. 81.
after-acquired property. V . 72, p. 87; V . 78, p. 2012; V . 80, p. 651.
p. 976, 1039, 1493; V. 84, p. 103, 694.
The
stockholders voted on N ov. 7 1904 to authorize a new mtge. for $12,
In Feb. 1907 1 15,000,000 francs ($29,000,000) 4% 15-year debentures
000,000 to provide funds for capital requirements, under which $3,948,000
with a fixed rate In marks and £ were sold. V. 84, p. 391, 450 508 804
have been Issued and the remainder will be reserved for future needs. A
931. Providence Terminal Co. bonds ($7,500,000 authorized), see V . 82.
3 % dividend (calling for about $1,740,000) was paid on the com . stock
p 920, 629, 693, 1213, 1323; V . 83. p. 96, 819.
In Jan. 1905. vesting In the shareholders directly the right to elect the en
Stockholders In Dec. 1907 subscribed pro rata for $38,585,400 6%
tire board o f directors. V . 79, p. 977 to 980, 1332, 1462; V . 80, p . 872
40-ycar debentures at par, convertible Into stock after Jan. 15 1923 at In June 1907 permission was granted to Issue $1,948,000 additional bonds
40-year debens. at par, convertible Into stock after Jan. 1 5 1923 at par. for additions. Improvements and equipm ent, o f which $1.748,000 were sold.
The debentures are to be secured by any mtge. hereafter created covering V . 84, p. 1488
96
R A IL W A Y
STO C K S
A N D
BONDS,
[VOL. L X X X IX .
98
R A IL W A Y
STO C K S
A N D
IN T E R E S T
R A IL R O A D S
S iz e , or
Par
V a lu e
128
1899
1900
1905
112
112
57
57
12
12
9H
72
1
1899
1899
1887
1894
1887
1887
1907
1880
1881
$1,000
1,000
1,000 &c
50
1,000
1.000
1,000
1,000
1,000
1,000
1,000
500 &c
1,000
127
127
127
1887
1887
1890
1893
1,000
1,000
1,000
1,000 &c
1892
1885
1896
1887
1893
& San A nton lo
vllle.
1902
T ext
6 1898
W hen
P a y a b le
F
$600,000
5 g
J
5 g
2,22 5,000
J
1,456.000
J
2,500,000
J
2,600.000
4 g
M
4
1,000,000
A
5 g
1,200,000
A
4 g
4,025,000
M
984,000 7 5i?
1,000,000 Up
to 5
F
1,500,000
4 g
A
6 g
3,500,000
J
250,000
6 g
J
5,000
6 g
5g
J
3,745,000
447,000
4M g F
F
2,552,000
5 g
M
2,000,000
5 g
W h ere P a y a b le, an d b y
W hom
B on d s— P r in c i
p a l, W h en D ue
S to c k s — L a s t
D iv id e n d
& A New York Trust Co, N Y
& D Morton Trust Co, N Y
& J Grand Cent Station, N Y
& D Checks mailed
& J 26 South 15th St, Phlla
& N Checks mailed (see text)
& O Grand Cent Station, N Y
& O
do
do
&
s U S Mtge & T r Co, N Y
&
A
O
&
&
D
&
&
&
&
J
A
A
N
&
J
Aug ’ 09-Feb ’ 1 1
Dec ’ 09-D ec ’ 15
July 1 1955
May31 1909 6 %
Jan 1 1939
Jan 1 1939
Oct 11927
Oct 1 1993
Sept 1 1927
Sept 1 1927
R eading Term inal, Phil Feb 1 1957
Apr 1 1910
O ffice, 50 Church St
do
J u n e l 1910
do
July 1 1911
Jan 1 1937
do
do
do
Feb 1 1937
do
Aug 1 1940
do
do
May 1 1943
do
do
Junel
Dec 1
Dec 1
Mch l
N ov 1
1942
1010
1916
1912
1933
5g
6
5
6
6
J
J
J
500
3,000,000
70,000
44,000
291,000
450.000
M
M
do
do
& D
do
do
& D
do
do
& I)
do
do
& S
& N V 75, p 1043; V 84, p 342
1,000
1,000
175,000
250,000
5 g
5
F
F
& A Mercantile Trust Co, N Y A ug 11922
& A F idelity Trust Co, Phlla Feb 1 1938
5
5
6
5
5
6
6
M
J
A
J
J
M
J
&
&
&
&
1,000
500
1,000
1,655,000
1891
1,000
1904
a825,000
1,000
1886
90,000
1,000
1902
650,000
.1,000
1904
47,000
1,000
1907
2.203,948
1,000
1,000,000
1908
1,000
eral 6 % not es o f 19 07.
223
223
Early In the calendar year 1899 the coal properties at Scranton ,P a ., of the
Lack. Iron & Steel Co. (the capacity of 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 $600,000 Feb. 1 1909), extending over a period of years,se
cured b y first mtge. on the coal property, 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 . 6 8 , p. 4 1 ,4 2 9 ; V . 69, p. 604, 646; V . 81, p. 1792.
In N ov. 1900 eight Independent anthracite properties with a maximum
output o f 2,000,000 tons annually were merged as the Elk Hill Coal & Iron
C o., the N. Y . O. & 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 maturing $75,000
each 6 m os., beginning June 1 ’ 01, to June 1 ’ l l , and thereafter $200,000
semi-annually to Dec. 1 ’ 15. The notes are secured part passu with the bonds
Issued under the gen. m tge. o f 1905. The Elk Hill Co. also made a 2d mtge
to the N . Y . O. & W . for $2,400,000 at 5 % . V . 71, p. 1270; V. 73, p. 501.
E A R N IN G S .— F or 11 months ending May 31:
11 Months—
G ross.
N et.
C h a rges.
B a l., S u r.
1908-09 ............................. $7,570,841 $2,209,069 $1,027,035 $1,182,034
1907-08 .........................
7,381,230 2,262,459
926,535
1,335,924
A N N U A L R E P O R T .— R eport for 1907-08 was given In V. 87, p. 738.
Owing to new classification In 1907-08, comparisons with previous year
are Inaccurate. C o a l t r a ff i c In 1907-08, 3,214,124 tons (out o f 5,580,715
tons), against 3,145,807 tons In 1906-07.
1908.
1907.
1906.
Y e a r e n d in g J u n e 30—
$8,121,494 $8,202,361 $7,265,058
5,586,052
5,644,346
5,233,287
$2,558,015
$3,011,732
$2,031,771
$2,484,988
883.358
190,086
283,506
1,162,302
862,667
202,291
232,529
1,162.296
$358,281
$492,480
$25,205
Pres., Thos. P. Fowler.—-(V. 86, p. 421; V . 87, p. 341, 738.)
NEW Y O R K & OTTA W A R Y .— Tupper Lake, N . Y ., to Ottawa, Can.*
128 m . Including Ottawa & N. Y ., whose stock Is ow end. Successor to
the N. Y . & Ottawa R R ., acquired b y the N. Y . Cent. & Hud. R lv . R R .
at foreclosure sale on Dec. 22 1904, which leases the road from Feb. 1 1905.
V. 7 9 , p. 2796; V . 80, p. 223; V . 86, p. 286. Stock authorized, $1,250,000.
In June 1905 a m ortgage for $2,500,000 was made. V . 80. p. 2458; V . 81,
p. 265. For year ending June 30 1907, gross, $157,591; net, $28,802; other
Income, $1,019; charges. $70,989; bal., d ef., $41,168.— (V. 86, p. 286.)
NEW YO R K P H IL A D E L P H IA & NORFOLK R R — In Jan. 1909 all but
$7 , 2 5 0 of the $2,500,000 stock had accepted the offer of the Pennsylvania
R R . to buy the stock with 4 % 40-yr. trust certfs., guar. prln. and lnt.
b y Penna. R R . on basis of $3,000 certfs. for $1,000 stock.
NEW YO RK & PUTNAA1 R R .— Owns 155th St. and 8th A ve., N. Y.
C ity (terminus Manhattan E levated), to Brewsters, N. Y ., 54 miles; double
track branch to Yonkers, 3 miles; operates 2 miles; total, 59 miles.
H IS T O R Y .— Successor to the N. Y . & Northern, sold under foreclosure
o f 2d mtge. Dec. 28 ’ 93, and purchased for N. Y . Cent. & Hud. R lv .R R .,
which owns $6,500,000 stock and leases the roa d .— see V . 63, p. 754, 820,
1159; V . 81, p. 265. N. Y . Central guarantees the consolidated m ort
gage bonds, o f which $1,000,000 were reserved for Improvements; 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.i,7 m ., with branch, 1.67 m .; total, 12.34 m .; double-track.
S tock, $1,000,000; par, $100. Leased 50 years from July 1 1904 b y Long
Island R R . C o., whose endorsem ’ t Is printed on first mtge. bonds. On Jan.
1 1909 $101,000 firsts were owned b y L. 1. R R ., together with $907,0 >0 of
the Incomes. V. 83, p. 890. Year ending Dec. 31 1908, gross, $904,237;
net, $307,556; charges and taxes, $197,958; bal., sur., $109,598.— (V. 83,
p. 890.)
NEW YO R K SHORT LINE R R .— Owns a cut-off for the Reading C o
between Cheltenham and Neshamlny Falls, 9
mil es, 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 Phlla. & Reading R y . for 999 years from Feb. 1
1907. The $250,000 stock Is owned by Reading Co., which guarantees the
bonds, principal and Interest.— (V . 84, p. 1552; V. 87, p. 1421.)
NEW YO R K SUSQUEHANNA & W ESTERN R R .— (S e e E r i e M a p . )
O w n ed ( in f e e ) o r e n tir e s to c k , M i l e s . |Susq. Connecting R R ..................... io
Jersey City to Gravel PL, P a ____101 lOtlier b r a n c h e s ...................................25
(D ouble track 10 miles.)
I L i n e s le a s e d , & c
Beaver Lake, N. J ., to Unlonvllle 21 IMlddletown Un. & W ater G a p * .. 1 4
WUkesbarre & Eastern..................... 65 IT ra ck a gc............................................. 2
Total road operated (*see thts co.) June 30 1908........
238
ST O C K .— Pref., $13,000,000: com ., $13,000,000, o f which the Erie owned
June 30 1908 $12,378,900 com . and $12,892,400 pref., of which $6,630,000
com . and $6,630,000 pref. are deposited under Its Pennsylvania coll. tr. M.
Dividends on pref.. N ov. 1891 to 1892, 2 4S% yearly; none since.
B O N D S.— G en er a l 5s are reserved to retire 2d 4 Hs. See abstract, V. 52.
p. 84. The s e co n d s are exchangeable for g e n e r a ls on payment of an assessm’ t.
T e r m in a l bonds, see Issue of Jan. 1898 and abstract, V. 57, p. 512.
E A R N IN G S.— 11 m os., 11908-09----------Gross, $3,026,080; net, $986,818
July 1 to May 31.
/1 9 0 7 -0 8 ----------Gross, 3,038,755; net, 749,766
R E P O R T .— For 1907-08, In V. 87, p. 1297, showed, on 238 miles: (Com
parisons with previous years are Inaccurate, owing to changes In accounting.)
Y ear—
G ro s s .
N et.
O th er in c .
C h a r g e s.
B a la n ce .
1907-08......... $3,268,643
$754,537
$56,223
$895,066 d ef.$8 1 ,306
1906-07......... 3,123,159
844,675
33,109
874,545 sur. 3.239
— (V . 32, p. 452; V . 83. p. 272, 887: V. 85. p. 922. 1205; V. 87, p. 1297.)
R a te
%
A m ount
O u ts ta n d in g
O
OO
N ew York Ontario & W estern— (C o n c lu d e d ) —
Gold notes secured b y first mtge Scranton Coal C o -.
do gold sec b y 1st M on E H C & I due s -a ------c*
New York & O ttaw a— First m ortgage $2,500,000 g .O
New York Philadelphia & Norfolk— Stock $2,500,000.
First m tge $3,000,000 g (V 68, p 773, 078) - - . F P . c ’
Incom e m tge g non-cum regls (V 68, p 9 78 )------ FP
New York & Putnam — N Y & North 1st M g old ------ c
N Y & Put cons $6,200,000 g guar p & J(end)-U n.c*
N Y & R ockaw ay Beach— 1st M $1,000,000 g g u .C e .c*
Second m tge Income bonds non-cum ulatlve____Ce.r
N Y Short Line— 1st M $1,500,000 g g u p & I..P e P ,x c*
N Y Susq & vvestern— Midland R R 1st M g old --C e.c*
Paterson E xten R R 1st M real estate s f gold ____c*
New Y ork Susquehanna & W estern first m ortg a g e..
First m ortgage refunding gold ........................ Ce.c*'
Second M ($1,000,000 gold) 3d M on 72 m ..C e .c *
General m ortgage for $3,000,000 g old .........Ce.c*
Terminal first m tge for $2,000,000 gold ____ U s.c*& r
A llie d co m p a n ies—
W ilkes-II & E ’ n 1st M g gu p & 1 (V 60, p 4 81 )-G .c*
Passaic & New York first mtge (999 years r e n ta l)..
M acopln R R first mtge (branch to M acopln Lake) . .
N Y Susq & W Coal Co 1st M red at 110 sink f d .. c *
N Y & Wilkes-Barre Coal Co first m ortgage______ N
New York Texas & M exico— See Galveston Harrisburg
Newport & Cincinnati Bridge— See Louisville & Nash
Niagara Junction R y— First M $650,000 go ld -.M e .c*
Norfolk & Portsm outh Belt Line— First m ortgage.F P
Norfolk & Carolina— See A tlantic Coast Line R R .
Norfolk & Southern 1st M $1,970,000 g ------------Alp c*
First general m ortgage gold redeemable at 115 — Q
Suffolk & Carolina first m ortga ge................................
Suffolk & Carolina first cons mtge gold red 110— c
Raleigh & Pamlico Sound first m ortgage redeem 110
Collateral trust notes $2,750,000 gold red 1 0 2 M -Ala
R eceivers’ certificates, $1,000,000, red p a r -------a Also $2,040,000 additional pledged under collat
D a te
of
B onds
to
M ile s
of
R oad
F o r e x p l a n a t i o n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n f ir s t p a g e o f ta b les
Balance, net earnings......................... $2,534,542
Total net Income, Incl. “ other” ------ $3,009,876
86,669
Outside operations (net), & c_______
958,531
Interest on funded debt .................... ..
165,912
Miscellaneous Interest and d is c o u n t..
278,174
Rentals p a id ________________________
1,162,308
Dividend ( 2 % ) ........................................
[VOL. L X X X IX .
BONDS.
g
g
g
g
g
&
&
&
N Metropol. T r Co, N Y
J
O
J
J Knickerbocker T r C o,N Y
N Manhattan Trust Co, N Y
D
May 1 1941
July 1 1054
A p r 1 1911
July 1 1952
Jan 1934
N ov 11910
See text
N IAG AR A JUNCTION R Y .— See page 169.
NORFOLK & PORTSMOUTH BELT LINE RR — Owns Port N orfolk to
Berkley, V a ., 5.8 miles, and Southern branch extension, 1.37 m .; operates
under lease 1.85 m. Stock, $50,400, In $100 shares. Bonds, see table.
Cal. year 1908, gross, $135,654; net, $43,376; other Inc., $17,325; Interest
on bonds, $12,500; taxes, & c., $3,093; bal., sur., $45,108.
NORFOLK & SOUTHERN R Y — Owns N orfolk V a., to Edenton, N . C..
76 miles (ferry across Albem arle Sound to M ackey’s Ferry, 9 m .); thence
road to Belhaven, 30 m .; Norfolk to Virginia Beach, 19 m .; Clapham Jet. to
Munden’s Point. 22 m .; Providence to Clapham Jet., 8 m .; Mackey s Ferry
to Bridgeton, N. C ., 77 m .; M ackey’s Ferry to Columbia, 22 m .: form er
Chesapeake Transit (electric railway) Com pany, N orfolk to Lynn Haven
Inlet and Virginia Beach, via Cape H enry, 24 m. (acquired Dec. 1904);
Suffolk, V a., to E denton. N. C., 50 m .; Beckford to Elizabeth City, N. C.
25 m.; Raleigh to Chocow lnlty, 102 m .; leases A tlantic & North Caro., Beau
fort to Goldsboro, N. C ., 98 m .; other, 17 m.: trackage, 3 m .; total June 30
1908, 582 miles. 45 miles equipped electrically. V . 78, p. 1549, 2o99;
V . 79, p. 1462, 1705.
J
The com pany has been building about 187 miles of road, which when
tire capital stock and bonds of John L . R oper Lum ber C o., owning over
600,000 acres of tim ber lands and 2 0 0 ,0 0 0 acres of tim ber rights, are owned.
V . 87, p. 1415. Stock outstanding, com m on, $13,123,000; p re f.,$4,800,000.
O R G A N IZ A T IO N .— A consolidation N ov. 23 ’ 06, per plan V . 82, p. 929,
R e c e i v e r s h i p .— In July 1908 receivers were appointed.
Harry K . W olcott
and Hugh M. Kerr of Norfolk are now receivers. V. 87, p. 38; V . 8 8 ,p .1002.
In July 1909 foreclosure suit under the “ first and refunding m ortgage”
was pend ng. V . 87, p. 1605.
In Dec. 1908 $1,000,000 6 % 1-ycar receivers’ certificates were sold, due
Dec. 29 1909, subject to call at par or renewable for 1 -year at receivers’
option. T hey rank ahead of the “ first anil refunding” m tge., any subse
quent Issue In excess of $500,000 to be subordinate In lien thereto. V .88,p.53 .
V . 87, p. 1160, 1415, 1605.
R E O R G A N IZ A T IO N C O M M ITTE E .— George C. Clark o f New Y ork,
Rathbone Gardner, Providence; Oaklclgh Thorne, John I. W atcrbury and
S. L. Schoonmaker. Manhattan Trust C o., N. Y .: Old Colony Trust Co.,
Boston, and Union Trust Co., Providence, depositaries. In D ec. 1908
over 75% of the bonds had been deposited. V . 87, p. 38, 014, 936, 1479.
R E O R G A N IZ A T IO N P L A N .— The plan maae public b y this com rninee
In Sept. 1908 was given In V .8 7 ,p.614,678, providing for the organization of
a new com pany, which will authorize $16,000,000 stock and $ 1 2 ,0 0 0 ,0 0 0
new bonds (see table a b o v e ), the annual fixed charges being reduced from
$1,270,746 to $605,516. The road Is to be sold under th e " first and refund
ing m ortgage,” subject to four underlying Issues, aggregating $3,220,000.
The plan provides $5,573,632 cash to retire the outstanding collateral
trust notes (thus subjecting the equipment covered by the $1,140,000 equip
ment bonds and the $2,040,000 first gen. mtge. bonds pledged thereunder
to the lien of the new m tge.), also to retire $47,000 Ral. & Paml. Sound
bonds and $1,128,184 floating debt and furnish $1,545,500 to com plete
construction of the road and $600,000 working capital. The first & refg
bonds will receive In new stock $1,142 80 per $1,000.
The new bonds (auth Issue $12,000 000) arc to be secured b y all prop,
erty owned Including terminals, railroad and floating equip, and securities,
except the stock and the $10,000,000 bonds or property of the John L.
R oper Lumber Co., which may or may not be subjected to the lien o f the
new mtffc. Of the new 1st 5s, $5,780,000 jirc to be sold to provide the ensh
renulrements o f the new conipnnv, $3,220,000 nrc to he reserved to retire
the underlying bonds and the remaining $3,000,000 for t u t u rerequlrem ents.
of which $ 1 , 0 0 0 ,0 0 0 m ay be Issued by the board of directors In Its discre
tion and the other $ 2 ,0 0 0 ,0 0 0 only with the consent of the holders o f at
least three-fourths of the new capital stock.
. . .
The collateral trust 6 % notes of 1907 ($2/750,000 ,'^u*]1 ®*l?SdA3S« UeL are
spcurpd hv denoslt of $ 1 000.000 1st and ref. rntg* bonds of Norf. & So. Jty..
$2,040,000 1 st*gen mtge. bonds of N. & S. R R . anil $1,080,000 equipment
trust 5s due $60,000 yearly to N ov. 1 1917. V . ■85, p.
86- P-.338
E A R N IN G S.— 11 m os., 1 1908-09------ Gross, $2,198,339, net, $760,432
July 1 to May 31.
(1907-08....... Gross,
1,981,799; net, 437,132
R E P O R T .— Report of N orfolk & Southern RR. was in V. 82. p. 158.
? M 8 r <^OT3?t/ 2 l l s / , W 2 : ° n ^ 8 $47e'l34':I>other’ i n T O m o fT I o ,.^ :’ ^ i , S J ^
’ ’ o n fe e *37 W ail St’.','N ? Y*.'— <V- 87, p. 1005: V . 8 8 , p. 5 3 , 1002.)
NORFOLK & WESTERN R Y .— S e e M a p . — System extendsi from N or
folk, V a., westward to Columbus, Ohio, and northward to Hagerstown.
M d .. with branches to the various coal fields In Virginia and West Virginia
R oad
o w n ed .
M ile s .
12 1
Norfolk, V a., to Columbus, O - - - 704 Roanoke to W inston..................
330
R adford, V a., to Bristol, T e n n .. 111 Sundry branches...................
4
Roanoke. V a., to H a gerstow n .. 238 Columbus terminal......... ............
Trackage
......................................I
33
Graham to N orton----------------------- 100
Nor. Car. Junction to Fries_____
44
Total owned June 30 1908___ 1,919
Lynchburg to Durham, N. C— 115
Portsmouth Jet. to Cincinnati
.
.......
.......Double
track------------------------------- 2 5 2
106
and .Ivorydalc...............
O R G A N IZ A T IO N .— Successor In 1896 o f ’Norfolk & Western R R ., &c .,
foreclosed per plan In V . 62, p. 641. In April 1909 Penn. H R , and sub
sidiary companies owned about $3 2 ,0 0 0 ,0 0 0 o f the com . and pref. stocks,
the holdings sold In 1906 (about one-half) having been re-purchased In 1909.
V. 83, p. 502: V. 8 8 , p, 1062. Branches building June 30 1908, sec V. 87,
P ’ In* J uly i 909 the N orfolk & W ester- and Atlantic Coast Line agreed
to build Jointly the Winston-Salem Southbound R R ., extending from W ins
ton-Salem, N. C., to W adcsboro, 87 miles. V. 89, p. 161.
ST O C K .— Provisions of pref. stock were given In “ Supplem ent” o f April
1897, page 4, said stock being 4 % non-cum . with preference as to assets.
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1 0 0
STO C K S
A N D
IN T E R E S T
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c ., s e e n o te s
o n fir s t p a g e o f ta b les
N& S(Con)— N & S ls t& re f M $ 2 5 ,0 0 0 ,0 0 0 g red ll0 sfT a
[VOL. L X X X IX .
BONDS.
til e s
of
load
...
D a te
of
B onds
1907
S iz e , or
Par
V a lu e
Am ount
O u ts ta n d in g
R a te
%
$1,000 $14,000,000
5 g
W hen
P a y a b le
M
&
W h ere P a y a b le , a n d bg
W hom
B on d s— P rin ci
p a l, W h en D u e
S to c k s — L a st
D iv id e n d
N M ay ’08 coup, last paid May 1 1956
N e w S e c u r i ti e s to B e O u ts ta n d in g u n d e r P l a n
Stock $16,000,000 authorized...................................
First mortgage $12,000,000 gold -------------------------Norfolk & W estern R y— Com stock $100,000,000— Q
A djustm ent preferred 4 % non-cum $ 23 ,000,000--G
N & W gen (now 1st) M N orfolk to Brls &c g -F P .c*
New R iv er Division first mortgage gold ------ FP.c*
Im provem ent & extension mortgage gold — FPc*
Scioto V alley & New Eng 1st M assum g o ld .-C e .c *
N & W first consol m tge $62,500,000 gold -M e.c*& r*
D lv 1st lien & gen M (text) g red 105 begin 1 9 2 0 --Q
Pocah Joint M $20,000,000 g call 105 s f . - Q P . c ’ &r
Col Con & Term 1st M gold guar p & 1 (end) --A lp .c*
Convertible bonds $34,000,000 gold red te x t-------- G
Notes secured b y deposit o f bonds--------------------- G.c*
E quip trusts gold $500,000 yearly since ’ 05--FP.C *
do
Series A gold due $100,000 yearly-------- FP
do
Series B gold due $100,000 yea rly--------FP
do
Series C gold guar p & 1 due $200,000 yrly
do
Series D gold due $100,000 y e a r ly ------do
Series E gold due $100,000 y e a r ly ------do
Series F to K g gu $100,000 each ser y r ly .
$R8 d o
Series L to O $100,000 each series yearW .
Norristow n & Alain L C on— 1st M g gu p & l(end) - -U P
North Carolina— Stock 7 % paid from rental..................
North Penn— Stock 8 % gu 090 years $6,000,000 auth
Old second M (now 1st) (7s extended In 1896)------ c
General m ortgage extended In gold In 1903_.F P .c& r
Funding loan bonds $409.000______________________
North Shore Cuba— First mtge $5,000,000 g red text.F
North East Penn— 1st M gold gu P & R (end) -G u P .c*
Northern (A la)— First M ($350,000 are prior lien ). K .c
Northern (N H )— Stock 6% rental-----------------------------Northern Central— Stock ($20,000,000 authorized) —
First m ortgage State o f Maryland loan (V 74, p i 197)
Consol general mortgage of 1874 gold Series E ------ c
Second gen M Series " A ” & " B ” (A $2,565,000)-F P
100
___
428
197
588
129
,661
.881
___
4
___
___
___
___
___
___
___
___
___
___
___
223
86
56
86
___
___
26
112
83
___
144
144
144
100 64,469,200
100 22,991,700
1881
7,283,000
1,000
1882
2,000,000
1,000
1883
5,000,000
1,000
1889
1,000
5,000,000
1896
500 &c 40,400,500
1904 1,000 &c 23,000,000
1901
1,000 19,302,000
1892
600,000
500
1907 1,000 &c 14,576,000
1908
7,500,000
1,000
1902
1,500,000
1,000
1903
500,000
1,000
1903
500,000
1,000
1905
1,200,000
1,000
1905
1,000
700,000
1905
1,000
700,000
1006
3,500,000
1,000
’ 06-’ 07
1,000 N’ neJuly’ 09
1902
250,000
1,000
____
4,000,000
100
____
50
5,405,550
1866
1,500,000
500 <5cc
1873
4,500,000
1898
402,000
1907
1,000 See text
1890
400,000
1,000
1896
1,650,000
1,000
____
3,068,400
100
____
50 19,342,569
1855
1,500,000
1885
1,000
1,757,000
’ 76-’ 82
3,565,000
1,000
N ORFOLK & WESTERN R Y . (C oncluded).—
D I V I D ’ DS. ’08. ’ 90. ’ 00. ’ 01. ’ 02. ’ 03. ’ 04. ’ 05. ’ 06. '07. ’08. 1909.
Preferred ( % ) . . 3
4 4
4
4
4
4
4
4
4
4
4
Comm on ( % ) _____ ,_ . .
2
2J4 3
3
3 K 4J4 5
4 June, 2
B O N D S.— The first consolidated m tg e .o f 1896 Is limited to $62,500,000,
the balance unissued being reserved to retire the underlying bonds. The
right to Issue prior Hen bonds has been annulled. V . 73, p. 502; V . 74,
p . 151; V. 75, p. 505; V . 77, p . 1785; V . 78, p. 229.
The 4 % lsf c o n s o ls are a 1st m tge. on a large part of the system , viz.;
about 886 miles of railroad; upon Im portant terminals at Norfolk and Lam
berts Point; upon the Ohio R iver Bridge and the Roanoke Machine W orks;
besides being a consol, m tge. upon 766 miles of the system , subject to the
undisturbed liens. T hey were further secured b y the equipment (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 .-Pocahontas Joint bonds are secured b y about 295,000 acres
o f coal lands owned and held b y the Pocahontas Coal & Coke C o., whose
stock Is ow ned, of which about 50,000 acres have been leased to companies
whose stock Is all ow ned b y the U. S. Steel Corp. and 39,797 to other con
cerns, the royalties under such leases alone being shortly expected to be suf
ficient to almost meet the fixed charges. They are subject to call at 105
since 1906 for a sinking fund o f 2 y i cents per ton mined. 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 of the Coal & Coke C o., but as
between the two companies the debt Is to be paid b y the latter com pany.
D iv i s io n a l lsf lie n a n d g e n . m tg e . 4s of 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 of the new
bonds and also a lien subject thereto upon the properties covered thereby.
Of the bonds $23,000,000 have been sold for Improvements and new equip
m ent. V . 78* p. 1540; V . 79. p . 501, 628. 973. 1642, 1704, 2148; V . 80,
p. 1175; V. 82, p. 510; V . 83, p. 1471; V . 88, p. 231, 453. The $4,000,000
eouln trusts (series L to O, $1,000,000 each) mature $100,000 per series
y Ty from Dec.' l l 906, and March, April and June 1907. V 86, p. 548, 481.
As to secured notes of 1908 see “ General Finances below.
The stockholders O ct. 11 1906 authorized an Issue of $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.
T o provide for double-tracking and new equipm ent $14,576,000 o f the bonds
were offered to the shareholders early In 1907 and underwritten ;these bonds
are convertible Into com . stock, $ for $, prior to June 1 1917, and thereafter
subject to call at 105 and Int. V . 83. p. 1412, 1471; V . 84, p. 1248; V . 85.
p. 469; V . 86, p. 109, 286.
G E N E R A L F IN A N C E S .— Of the traffic In 1907-08 63% (11,830,060
tons) was bituminous coal and coke; average rate per ton per m ile,0.481
cents; train-load, 571 tons.
. . .
In April 1908 $7,500,000 2-year notes were s o ld ,secured b y deposit of
$10,000,000 first lien and general 4s. V . 86, p. 1043, 1101.
L E A R N I N G S .— For 11 m onths ending May 31:
fek
G ross.
N et.
I n t . , t a x e s , A c . B a l . ,s u r p .
1908-09
$26,581,651 $10,476,326 $4,910,893 $5,565,433
1907-08 . I . : ______
26,810,981
9,340,414
4,809,087
4,531,327
R E P O R T .— R eport for 1907-08, V . 87, p. 674, 682 (see editorial, p. 652).
Y e a i e n d in g J u n e 3 0 —
1908.
1007.
J006;
J005
___
1,920
1,876
1,861
1,833
Miles June 3 0 ___
Passenger earning
____ $3,977,482 $4,163,119 $3,598,558 $3,158,773
Freight earnings
23,990,629 26,000,945 24,111,801 20,249,399
Mall, express?
994,106
1,000,316
777,407
681,088
Total gross earnlngs._$28,962,217 $31,164,381 $28,487,766 $24,089,260
Oper. expenses and taxes 19^580^287 20,510,536 17,799,623 15,285,434
T otal net earnings _ $9,381,930 $10,653,845 $10,688,143 $8,803,826
T otal net income
$10 088,959 $10,742,791 $10,853,488 $9,014,399
In tereston ? u n d « f d e b t- S ^ O I S
3,222.807
3,069.147
2.862.933
Interest on car trusts—
442,667
492.889
316,641
2^.6,667
D ef.ln ln t.P .C .& C .b on d s
192,000
218.000
188,000
T)iVq on nref (4 % )
019.656
919,044
919,614
919,530
Dlvs. on com m on___(4H )2,001,114 (5)3,223,460 (4)2,578,768(3)1,934,076
D »n i«
87.371
26,778
10,823
-------------Betterm ent fund**&cl 11 l.s e o io o o
1.246,652
2,050,000
2.250.000
Discount, & c.....................
53,792
4 7 ,211
55,786
160,197
Balance, surplus_____
$347,346 $1,345,350
$760,179
$444,996
O F F IC E R S .— Pres., L . E . Johnson; Chairman of Board .Henry Fink, 27
W illiam S t.. N . Y .; V .-P .. W m . G. Macdowell; S ec.. E. H. Alden; Treas..
Jos. B. L a cy. General office, R oanoke, V a ., Philadelphia office, Arcade
Building, Market and 15th Streets.
.
Directors— Henry Fink, V ictor Morawetz, Levi C. W eir, New York; L. E .
Johnson, R oanoke, V a.; Samuel R ea, W . ^ M a c d o w e lL .foseph I. Doran
and John P. Green, Philadelphia; Joseph W ood , ^ ^ y C . Frick. Pitts
burgh; W alter II. Taylor, N orfolk. V a.— (V. 88. p. 1 °6 -. V. 89, p. 163.)
NORRISTOWN & AlAIN LINE CONNECTING R R .— Owns double-track
road .65 mile long, Incl. bridge over Schuylkill R lv®£’iieXt*n T}n?Ir01? Norris
tow n, to a connection with the main line o f the Phlla- * **®ad. a* a point
above Bridgeport, P a ., Leased to Phlla. & R ead. R y . at 4 % on stock and
Interest on bonds. The Reading Co. owns all the $50,000 stock and guar
antees the bonds.— V . 75, p . 1148.
NORTH C AROLIN A R R .— Owns from Goldsboro to Charlotte. N. C ..
221.65 m .; Caroleigh Jet., N. C ., to Carolelgh Mills, 1.90 m .; total, 223.55
miles. Leased from Jan. 1 1896 to the Southern R y . Co. for 99 years at
$266,000 (6 M % on stock) per year till Dec. 31 1901 and $286,000 (equal to
7 % on stock) balance of lease; also taxes. V . 63, p . 361. State of North
Carolina holds $3,000,000 stock.— (V. 66, p. 665; V . 89, p. 163.)
NORTH COAST R R ., W ASHIN GTON .— V . 88, p. 686.
5 g
4 In 1908
4 in 1909
6 g
6 g
6 g
4 g
4 g
4 g
4 g
5 g
4 g
5
4 g
4 g
4 g
4 g
4 g
4 g
4 g
4 g
4 g
7
8
4
3.3 g
4
5 g
5 g
5
See text
8 in 1909
6
4J4 g
5
& D
J
F & A
M & N
A & O
F & A
M & N
A & O
&
J
J
& D
J
& J
J
J & D
M & N
M & S
J & J
M & S
A &
M & N
& D
J
Various
Various
M & S
F & A
Q— F
M & N
& J
J
M & N
M & S
A &
& J
J
Q— J
& J
J
J— J
A & o
& J
J
o
o
Office, Philadelphia
do
do
Mercantile Trust Co, N Y
do
do
do
do
do
do
do
do
do
do
do
do
Metropolitan T r Co, N Y
Mercantile Trust Co, N Y
Guaranty Tr. C o., N Y
Fidelity Trust Co, Phlla
do
do
do
do
Commercial T r Co. Phlla
do
do
do
do
do
do
Guaranty T r. Co, N Y
R eading Term inal, Phlla
Burlington, N C
Office, 240 S 3d St, Phlla
do
do
do
do
R eading Term inal, Phlla
R eading Term inal, Phlla
J P Morgan & Co, N Y
1023 Old So Bldg, Boston
Treasurer’s Office, Balto
Annapolis
Treasurer’s O ffice, Balto
do
do
50 years
June 18 ’ 09 2 %
A ug 18 ’ 09 2 %
May 1 1931
A p r 1 1932
Feb 1 1934
N ov 1 1989
Oct 1 1996
July 1 1944
Dec 11941
Jan 1 1922
June 1 1932
May 1 1910
Sept 1 1909-11
Jan 1 1910-13
Mch 1 1910-13
A pr 1 1910-15
N ov 1 1909-15
Dec 1 1909-15
T o Aug 1916
T o June 1 1917
Sept 1 1952
Aug 1 1909 3H
May 25 1909 2 %
May 1 1936
Jan 1 1953
N ov 11928
Mch 1 1942
A pr 11920
July 1 1928
July l 1009 1 H
July 15 ’ 09 4 %
Irredeemable
Apr 1 1925
Jan 1 1026
NORTH PE N N SYLV A N IA R R — Owns from Philadelphia, P a., to Beth
lehem, P a., 55.73 m .; branches to Delaware R iver, & c., 30.77 m .; 2d track,
75.19 m .; 3d track, 15.73 m .; totaljtraok, 245.03 m . Leased fo r 999 years
from May 1 1879 to Phlla. & Reading R R . at 8 % on stock, and lease as
sumed In 1896 b y Phlla. & Reading R y. Current liabilities June 30 1908,
$377,292.— (V . 73, p. 1160; V . 75, p. 1354; V . 78, p. 821; V . 81, p . 559,
668.)
NORTH SHORE R R .. C U B A .— See Section April 1008.
NORTH-EAST PE N N SYLV A N IA R R .— Owns road from Glenslde to
New H ope, P a ., 26 miles. Controlled b y Reading Co. .C apital stock
$400,000, o f which $318,050 owned b y R eading C o.; par, $50.
NORTHERN A LAB A M A R Y .— Sheffield to Parrish, A la ., and branches,
112.50 miles. In April 1899 a m ajority of stock and bonds purchased by
the Southern R y . V . 68. p. 824, 873.
also V . 69, p. 391.
Stock Is $2,000,000. Under supp. m tge. of 1898 $400,000 of the ou t
standing $1,700,000 1st 5s were made prior Hens. V . 67, p. 1208. In year
ending June 30 1908, gross, $582,121; oper. d ef., $56,920; Int. on bonds.
$8?,500; rentals, & c., $24,770; bal., d ef., $164,100.— (V . 69, p. 28.)
NORTHERN (N . H.) R R — Owns Concord. N. H ., to W hite R iver Jet..
V t., 70 m .; branch to Bristol, N. H ., 13 m .; total 83 ml es. Subsidiary lnes,
Concord & Claremont R R ., 71 m .; Peterborough & Hillsborough R R ., 19 m.
Lease to Boston & Lowell for 99 years from Jan. 1 1890 was assigned to
Bos. & Me.; rental was 5% on stock till July 1 1897, and now 6 % , payable In
gold. Until July 1897 1% extra was paid regularly from contingent fund
Also In 1894, Jan., 5 % extra was paid; In 1896, July 2 % extra; In 1897, 5%
extra; In July 1904, X % extra.— (V . 65, p. 463; V , 78, p. 238a.)
NORTHERN CALIFO RN IA R Y .— See Southern Pacific R R .
NORTHERN CEN TRAL R Y .— Owns Baltimore. M d., to Sunbury, P a .,
136 m .; of which 132 in. double track— branch, 9 m .; leases— Shamokln Val.
& P ottsv. R R ., 38 m .; Elmira & W ’ m sport R R ., 74 m .; operates at cost—
Elmira & Lake Ont. R R ., 100 m .; Lykens V al. R R .. 19 m .; also since June 1
1902, York H anover & Frederick R R ., 56 m .; York branch Penn. R R .
Y ork, P a., to Columbia, 13 m .; other, 4 miles; total, 418 miles. Also uses
N. Y . L . E . & W . and other tracks, 14 miles. V . 78, p. 773.
O R G A N IZ A T IO N .— A consolidation o f several roads In 1854. Con
trolled b y the Penn. R R ., which owns a m ajority of the stock.
S E C U R IT IE S O W N E D .— On Jan. 1 1909 among the assets held were
Elmira & Lake Ont. stock (all), $1,500,000; Sham. Val. & P ottsv. stock,
$619,650: Union R R . stock. $1,225,000 (the bal. o f $875,000 being held by
Phlla. W llm . & B alto.), &c. Also the following, m ostly acquired In 1900;
Balt. & Ohio pref. stock, $1,000,000 and co m ., $1,048,700; N orf. <& W est,
pref. $500,000, and co m ., $1,000,000; Eric & W . Transp.C o.stock, $500,000.
ST O C K .— Authorized Issue was Increased In F eb. 1900 from $8,000,000
to $12 000,000; Penn. R R . on Jan. 1 1909, owned $10,577,200. Hhe stock
holders In N ov. 1903 voted to Increase the authorized stock from $12,000,000
to $20 000,000. V . 77. p. 1875; V . 78, p. 1907. In Jan. 1007 $2,140,169
was issued as a 1 2 H % stock dividend. V . 83, p. 1471.
D IV S 1888 ’89 ’ 90 ’ 91 ’ 92 ’ 93 1894 to 1900
1901 to July 1909
P e rc e n t
7
8
8
7
8
9
7 yearly
*8 yearly (J&J)
♦Also ja n . 1907 12
paid In stock.
E A R N IN G S — 5 m os., 11909----------------- Gross, $4,701,292; net, $753,969
Jan. 1 to May 31.
j l0 0 8 .................G r o s s , 4,461,992; net, 771,869
A N N U A L R E P O R T .— Fiscal year ends Dec. 31. President’s report for
1908 given at length In V . 88, p. 550, 570, showed the following:
Y e a f e n d in g D e c . 3 1 1908
1007
1006.
1905.
vriipq Af ro/id
....
462
460
402
462
Gross earnings.................. $11,264,986 $13,237,498 $11,632,633 $10,531,962
Net earns (o verT ax es).
2,228,020
2,358,865
2,385.341
1,850 114
0 ?h e rrtce lp ?3 . . . . . . .
1,247,040
1,247,425
1.151,602
1.157:418
T otal net Incom e..........*3,007,532
Rentals &c
___
$437,928
In te re sto n d e b t. A c . . . .
653.728
Dividends, 8 % ................
1,82 I ’ «28
Miscellaneous
-----84,097
Extraordinary" 11111 —
600,000
$408,7o9
519,440
110,280
500,000
$436,516
384,639
1,37n’ o22
10,226
1,100,582
$368,998
360.182
1.375,468
49,790'
& 2 7,721
Balance, surplus— - 3 132■817 . . . 3 'H r .397
?229,511
$25,374
— (V . 84, p. 508, 513: V . 86, p. 47o, 485, 544, V . 88, p. 559.)
NORTHERN R R . OF NEW JE R S E Y .— Owns from Bergen. N . J ., to
Snarklll. N. Y ., 21 m .; leases Sparklll to N yack, o m. Leased to the Erie
R R from June 1 1899 for the term o f Its corporate existence, for Interest
on bonds 4% on $ 1 ,0 0 0 ,0 0 0 stock, payable quarterly, taxes, and nil cor
porate expenses. Of the $1,000,000 new 4 H % gen. m tge. bonds, guaran
teed b y the Erie, $654,000 are reserved to retire the 6s due July 1 1917 and
the remainder for im provem ents and betterments or equlpm ’ t for operation
b y electricity of the leased properties. Sec V . 69, p. 81.— (V . 71. p. 30.)
NORTHERN R Y . COSTA R IC A .— See V . 71, p. 1067, and United Fruit
Co : V 75. p. 849; V . 78, p. 288; V . 80, p. 223; V . 81. p. 614.
NORTHFRN OHIO R A IL W A Y ,— (S e e M a p L a k e E r i e A W e s te r n .) —
Owns Akron to Delphos, O ., 165 miles; branches. 2 miles. Leased In per
petuity to L. E . & W ., which guarantees the bonds. V . 62, p. 826.
.STOCK.— Comm on stock (all owned b y L. E. & W . ) , $3,580,000; pre
ferred non-cum ulatlve 5 % stock, $650,000; par of each, $100,
B O N D S.— The fir s t m ortoago Is for $4,000,000; of which $1,500,000 un
issued are limited to $15,000 per mile of com pleted road hereafter con
structed or purchased. Operated as part of L. E . & W . V. 66, p. 337.
NORTHERN PACIFIC R A IL W A Y .— (S e e M a p s . ) — Operates one of the
leading lines to the Pacific, having Its eastern termini at St. Paul, Minn.,
and Duluth, W ls. (the head o f Lake N avigation), and running thence west
erly; traversing the great wheat belt of Minnesota and North Dakota, the
mining district of Montana and the farming country of Washington to
Tacom a and Seattle, and to Portland, Ore., with branches.
J
u l y
RAILWAY STOCKS AND BONDS,
L 9 09 .J
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in g s , & c . , s e e n o te s
o n fir s t p a g e o f ta b les
M ties
of
R oad
Northern of New Jersey— Stock guar (see V 6!), p 8 1)21
Thlrd mortgage (now flrst) Interest guaranteed— c
Gen mtge $1,000,000 gold Int guar by lea se.- Usm.c*
167
Northern Ohio— 1st M g ($15,000 p m) gu p & L .C c .c *
Northern Pacific R y — Stock $250,000,000 authorlzed182
St Paul & N P gen M land grant a ss u m cd -.C e.c*A r.
182
do
do
registered........................... ...........
Wash A Columbia R iver 1st M gold a ssu m ed .-F c*
163
New mortgages of Northern Paclllc R a ilw a y —
Prior lieu M $130,000,000 gold land g r.-A le .c* A r See z
General lien M $100,000,000 gold land g r .-F .c * A r See z
St Paul-Duluth Dlv pur m oney M $20 ,00 0 ,0 0 0.G.c*
226
C IJ A Q coll tr M g (red since Jan ’ 06 at 105). S.eAr
do
do
registered---------------------------...
B o n d s U n d e r ly in g S t P a u l & D u lu th D i e M o r tg a g e
D a te
of
B onds
1887
1900
1895
1883
1883
1895
1896
1896
1900
1901
1901
S ice, or
Par
V a lu e
IN T E R E S T
Am ount
O u ts ta n d in g
R a te
%
$100 $1,000,000
4
100 Ac
054.000
6
1,000
154.000
4H g
1,000
2.500.000
5 g
100 248,000,000 See text
1,000
8.021.000
0 g
1,000
6 g
1,000
2,620,566
4 g
500 A c 105,431,000
500 Ac 60,000,000
1,000 *7,541,000
l.OOOAc) 107,613,500 I
l.OOOAcJ
\
4
3
4
4
4
g
g
g
g
g
W h en
P a y a b le
Q— M
A J
A J
A O
Q—F
F A A
Q— F
J
A J
J
J
A
J
J
10L
OR D IV ID E N D S
W h ere P a y a b le, an d by
W hom
50 Church St, New York
do
do
do
do
Chase National B ank.N Y
J P Morgan A Co, N Y
do
do
do
do
Farmers’ L A T r Co, N Y
Total
lncl. 5 m. trackage
ITotal system June 30 1908--------- 6,285
(operated d irectly)________ 5,649 ISerond track_______________ 329
The Manitoba branches, aggregating 354 m ., were leased for 999 years
from May 31 1901 to the Provincial Government and sub-let by the latter to
the Canadian Northern R y . at a rental of $210,000 annually for the flrst 10
years, then $225,000 for 10 years, then $275,000 for 10 years and thereafter
$300,000, with option of purchase any time for $7,000,000. V . 73, p. 610.
Spokane Portland & Seattle R y .. Joint line with Great N or., build
ing from Portland to Spokane, W ash., with branches; total, 417 miles, was
com pleted May 1009: see V. 81, p. 1101; V. 83, p. 1111; V. 86, p. 1530.
N orthern Paclllc part of Joint line with Union Pacific, Culdesac to Grangevllle, 55 miles, com pleted In 1908; also Big Fork River, Minn., to Interna
tional Falls, 34 mlle3. V . 85, p. 1089. In May 1909 Missouri R iver
branch, from Glendive, M ont., to Mandan, N. D ., 250 miles, was proposed,
contract for loO miles being let. In May 1909 arranged for Joint use of
C o .’s line between South Tacom a and Vancouver, W ash., 135 miles, with
Great Northern and Union Paclllc. V. 88, p. 1373.
H IS T O R Y .— This Wisconsin com pany on Sept. 1 1896 succeeded to the
railroads, land grant and oftier property of the Northern Paclfltj R R .
foreclosed In July 1896 and reorganized per plan In V . 62, p. 550.
The original Northern Paclllc Company was chartered by Congress July 2
1864; 450 miles to Bismarck were foreclosed In 1875.
S T O C K .— The $75,000,000 preferred stock was paid olf at par on Jan. 1
1902, the com m on being Increased from $80,000,000 to $155,000,000.
Stockholders In Jan. 1907subscribed for $93,000,000 new stock at par,
paid In Installments to Jan. 1909. V. 83, p.1471, 1524: V . 84,
p. 221.
The Union Paclllc system In July 1908 owned $1,914,400 stock. V. 83,
p. 1322, 1352; V. 84, p. 508; suit to set aside ownership, V . 86, p. 286.
D IV ID E N D S —
’01. ’02. ’03. ’’04; ’05. ’ 06. ’07 ’0 8 . ----------1909---------On co m m o n ___ (% ) 4 O H 7
0%
7
7
7 *7, 1 % , 1 H . 1 H . (?)
On pref. (ret)__ (% ) 4
1
..
.. ..
. . __
________
* Also Dec. 1908 11,26% from sur. of N. W . Im pt Co. V . 87, p. 1238
B O N D S .— Abstracts o f the new Prior I,len and General Lien mortgages
o f 1896 were In V. 63, p. 1012-1019, 1072.
P r i o r lie n 4 % s purchasable with land sales at not exceeding.
110 (but not subject to call), not over $500,000 cash yearly.
to be so applied. Total Issue____ _____ ____________________ $130,000,000
Issued (of which $1,553,471 In treasury June 30 1908)______ 106,984,500
issued, but purchased and canceled_________________________
4,665,500
Reserved to retire St. Paul & N. P. and W est. R R . b o n d s ..
8,350,000
For new construction, betterments, equipment, A c., under
carefully guarded provisions, but not exceeding $1,500,000
per annum. Originally $25,000,000— still held___________
10,000,000
Of the $190,000,000 general lien bonds, $130,000,000 are reserved to
retire the prior lien bonds at m aturity.
The S t. P a u l & D u lu th D iv i s io n mortgage secures $20,000,000 purchase
money bonds on the form er St. Paul & Duluth, o f which $9,215,000 were
Issued to acquire the road, $5,283,000 are reserved to retire existing St. P.
A D. bonds and the balance for Improvements to the property. V. 70, p.
1250; V . 71, p. 1167. The lands Included In the grant of tne form er St.Paul
A Duluth are estimated to be worth about $4,000,000, and were not c o v
ered by the old mtges. They are to be sold and proceeds applied to pur
chase of the bonds at not over 105 and Interest, or, If not purchasable at
that price, then to betterments, Improvements or additions to the m ort
gaged premises or equipment therefor. To July 1908 $2,339,000 had
been thus purchased and canceled. V . 71, p. 1167; V . 72, p. 339.
LA 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. Unsold on June 30 1008 10,445,938 acres, viz.:
M in n esota ...............................
25,474 (Idaho ...................................... 45 i,236
North D a k o t a ......................
6,030 (W ash in g ton ..........................2,451,289
M o n ta n a __________________ 7,027,623 lOregon
................... .......... 389,727
Sales In 1907-08, 148,329 acres. Net cash receipts, $1,217,107.
FIN A N C E S.— In 1904 Nor. Pac. and Gt. Northern had acquired $107,
612,600 of the $110,839,100 stock of Chic. Burl. A Quincy R R . In exchange
for their Joint 20-year 4 % gold bonds secured by 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; V. 73, p. 294, 610; V 85, p. 601.
E A R N IN G S .— 11 m os., 1 1908-09...G ro s s , $62,313,051; net. $27,942,853
July 1 to May 31.
J 1 9 0 7 -0 8 ...G ross, 03,979,979; net, 27,967,521
For 5 mos. ending N ov. 30 1908, net, $15,743,812, against $15,348,039
In 1907; other Income, $1,128,438: taxes, $1,348,620; Interest and rentals,
$4,709,701; 3 m os. d lv ., 1 H % , calls for $2,712,500; bal., sur., $8,101,429.
R E P O R T .— R eport for 1907-08 In V . 87, p. 930 ,10 8 1 , 1093; ed it., p. 1054.
INCOME ACCOU N T— IN T E R -S T A T E COMMERCE C LA SSIF IC A T IO N .
Y e a r s e n d in g J u n e 30—
1907-08.
1906-07.
In c. or D ec.
Average m ile s _________________
5,633
5,444
Inc.
189
P assenger........................... - ........... 18.133.238 16.320,861 Inc. 1,812,377
Other revenue from transp’ n
3fl24,315
3,002,968 Inc.
121,347
"Revenue other thun transp’‘ n . .
554,095
491,436 -Inc.
62,656
Total operating r e v e n u e ____ *>68,235,434 $6 7 ,4 6 5 ,6 3 5 Inc.
$769,849
Operating Income (o v e r t a x e s ). $ 1 6 ,293,891 $ 2 8 ,876 ,27 3 Dec. $2,5 8 2 ,3 8 2
Other In com e................................. 4,0 0 3 ,9 9 8
2 ,8 7 6 ,7 9 0
Inc. 1,1 2 7 ,2 0 0
Gross In co m e ______
..$30,297,889 $31,753,072
Dec. $1,455.183
June
July
Jan
Oct
Aug
Feb
Feb
July
1909 1 %
1 1917
1 2000
1 1945
219 0 9 1 H
1 1923
1 1923
1 1935
Q— J
J P Morgan, N Y ; A Ber p Jan 1 1997
Q— F
do
do
Jan 1 2047
& D
do
do
Dec 1 1996
A J
do
do
July 1 1921
do
do
Q— J
July 1 1921
St Paul A Duluth first mortgage assum ed_______ c*
167 1881
1,000
1,000,000
5
F A A J P Morgan A Co, N Y
Second m ortgage assum ed_________________ Ce.c*
167 1887
1,000
2,000,000
5
A A O
do
do
T aylor’s F A L Sup 1st M s l not d raw n____Ce.c*
21 1884
1,000
210,000
6
J
A J
do
do
Duluth S L 1st M p A I sink fd not d ra w n ..C e .c*
25 1886
1,000
500.000
5
M A S
do
do
Consol mtge assumed $5,000,000 gold ____ Alp.c*
238 1898
1,000
1,000,000
4 g
J
A D
do
do
Northern Pac Term C o— First M gold red at llO -.p '.c *
1,000
. . . 1883
3.505.000
6 g
J
A J W inslow ,LanlerA Co.N Y
Northern Railway (Cal)— Sec Southern Paclllc R R .
Northern Securities— Stock $ 3 ,0 5 4 ,0 0 0 .._____ _______
100
3.954.000 See text See text Checks mailed
1,000
Northwestern Coal R y— First M guar (end) g old .F .c*
1893
794.000
5 g
M A N Farmers’ L A T r Co, N Y
Northwestern P acific— Stock ($35,000,000).............. . F
399
100 35,000,000
5
Cal Northw 1st M g guar by St F A Nor Pac sink fd 1898
1,000
40
977.000
5 g
A A O San Francisco A New Yk
San Francisco & Nor Paclllc 1st M gold s f-A le.c* Ar
1,000
165 1889
3.834.000
J
A J New York and Frankfort
5 g
North Paclllc Coast general mtge (now flrst) g o l d - .c
1,000
90.5 1892
1.498.000
J
A J Co’ s office, San Francisco
5 g
Eel R iver A Eureka flrst m ortgage____________
1,000
1894
313.000
5
A A O Eureka
lst& ref M $35,000,000 g red 110 aft 10 yrs_F .xc*A r
1907 1,000 Ac
5.694.000
g M A S New York
Northwestern RR of South Car— First M $375 ,0 0 0 ___
66 1899
1,000
285.000
4
A A O Safe Dep A T r Co, Balt
Norwich & W orcester—Preferred stock 8 % r e n ta l___
72
100
3,000,000
8
Mech Nat Bk, W orcester
Q —J
Uonds (not mtge) lnt guar underlease cu rren cy.cA r
1897
1,000
1.200.000
4
M A S Company’ s office Boston
N orwood & St L— 1st M $300,000 g red 110 In 10 yrsTa
1902
500 Ac
100.000
5 g
A A O City Nat B k, W atert.N Y
Nova Scotia Eastern— First m ortgage gold red (t e x t ), Text
1905
£100
(?)
5 g
A D 30
p Berlin at 4.20 marks per dollar, z 5,130 miles, In cludln g 40 m lies not o perated; sp urs, 261 Jmiles.
* $361,000 add’l In treasur
NORTHERN PACIFIC R A IL W A Y — C oncluded.
M a i n lin e .
M i l e s . | L e a s e d to o th e r s.
M ile s .
Ashland, W ls. to Portland,
|To other com panies____________
9
Ore. (Inch 5 m. term inals). .2,171 |To Province o f M anitoba............ 355
Bralnerd and Staples to St.
|Not op erated...................................
22
Paul ........................................ 181 |
--------Other lines...................................... 410 I Total (Inc. 48 m. trackage)-.6 ,0 3 5
---------I C o n tr o lle d p r o p e r t i e s —
„
Total main line.......................... 2,762 |Mlnn. & Intern. (V. 77. p. 451). 175
Various branches______________ 2 ,88) lOther com panies___________
75
B o n d s— P r in c i
p a l.
W h en D u e
S to c k s — L a s t
D iv i d e n d
D ed u ct—
1907-08.
Hire o f equipm ent_______Cr.$103,491
Rentals p a id _____________
302,522
7,098,908
Interest on funded d e b t______
Int. A com . on new stk. subsc’ns 3,106,883
Dividends on stock, 7 % _ 10,850,000
Depreciation of equipm ent_____
..
. .
Insurance f u n d ..................
2,784,950
1906-07.
$879,256
245,539
6,994,620
159,727
10,850,000
5,926,753
Aug
Oct
Jan
Sept
June
Jan
1
1
1
1
1
1
1931
1917
1914
1910
1968
1933
Jan 10 1909 4%
May 1 1923
A pr 1 1928
Jan 11919
Jan 1 1912
Oct 1 1914
Mch 1 1957
Apr 1 1949
July 1 1909 2%
Mch 1 1927
Apr 1 1932
1955
y J u n e 30 1908
In c. or D ec.
Dec.
Inc.
Inc.
Inc.
$982,747
56,983
104,287
2,947,156
Dec.
Inc.
5,926,753
2,784,950
Net surplus for year................ $6,258,118
$6,697,176 Dec.
$439,058
O ld B a s i s —
1906-07.
1905-06.
1904-05.
1903-04.
Average miles operated. 5,444
5,401
5,315
5.262
Gross ea rn in g s.................. $68,534,832 $61,223,476 $50,722,886 $46,524,574
Not earnings...................... 30,870,515 30,128,043 23,914,127 22,290,031
Taxes ............................
2,398,719
2,213,040
1,601,000
1,462,775
D IR E C T O R S .— John S. K ennedy, Arthur C. James. George F. Baker,
W illiam Sloane, J. Plerpont Morgan Jr., Lewis Cass Ledyard, H oward E lli
o tt, 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. S chley.
O F F IC E R S .— Pres., Howard E lliott, St. Paul, Minn.; V .-P ., James N.
Illll; See.. George H. Earl, New York; Treas., C. A . Clark, St. Paul.
N. Y . office, 34 Nassau S t.— (V. 88, p. 295, 945, 1373; V. 89, p. 163.)
NORTHERN PACIFIC TERA1INAL COAIPANY. OF OREGON— Owns
terminals on the W illam ette R iver, Ore., at Portland. East Portland and
A lbina, com prising 270 acres land, 38 m. track, dock frontage 7,904 feet.
L E A S E .— Leased for 50 years from Jan. 1 1883 Jolntlv and severally to
Northern Paclllc, Oregon R y . A Navigation and Oregon A California, with
guaranteed rental to pay Interest, sinking fund and taxes; leases assumed
In 1899 b y new Nor. Pac. and Oregon R R . A N av. V . 69, p. 230.
S T O C K .— Stock ($3,000,000) owned by said three companies (40% b y
Oregon R y . A Nav. C o., 40% b y Nor. Pac. and 20% by Oregon A Cal.
R R .), and held by Central Trust Co. o f New York, to be delivered after
paym ents to the sinking fund, which Is to cancel the bonds.
BON DS.— The flrst mtge. is for $5,000,000; in Jan. 1909 $4,266,000 had
been Issued, of which $761,000 retired by sink, fund— drawings at 110 and
interest.— (V. 87, p. 227, 930; V . 88, p. 232; V . 89, p. 163.)
NORTHERN SECURITIES CO.— In 1904 the U. S. Supreme Court de
clared the com pany to be a com bination In violation o f the A nti-Trust A ctami therefore Illegal. V. 76. p. 8 1 1 , 919, 1249; V. 78, p. 1168.
The stockholders voted on April 21 1904 to reduce the stock from $395,
400,000 to $3,054,000, the par value of shares to remain $100, representing
the remaining assets In the treasury, pending com pletion of dissolution.
V. 78, p. 1223, 1275, 1392. R eport for cal. year 1908 was in V. 88, p. 154.
D IV ID E N D S .— Dividends 1902. 4 % ; 1903, 4 M % ; 1904, F eb ., 1 H % .
On stock as reduced, 5% each paid Jan. 1906 to 1908; 1909, Jan., 4 % .
O F F IC E R S .— Pres., J am esJ.H Ill; Sec. and Treas., E. T . Nichols; Gen.
Counsel, W . P. Clough. Office, 26 Liberty St., N. Y .— (V. 88, p. 375.)
NORTHWESTERN COAL RY.— AUouez Bay, W isconsin, to A llo u e zJ ct..
W ls., 2.53 miles, with coal wharf covering about 80 acres o f land. V . 71,
p. 698. Owned by the Pittsburgh Coal C o., which guarantees the bonds,
o f which $220,000 are apportioned to the railroad and $574,000 to the coal
property. See official statement, V. 71, p. 698. Capital stock, $1.000,000.
For year ending June 30 1907, gross, $25,324; net, $2,663; lnt. and taxes,
$11,978; bal., def. for year, $9,315.— (V . 71, p. 698.)
NORTHWEST.— See Chicago A North W estern.
NORTHWESTERN PACIFIC RR. — Operates a system extending from
Point T lburon, Cal. (whence ferry to San Francisco, 6 miles), northerly to
Eureka, with branches, 399 miles In all. Incorp. Jan. 8 1907 In the Interest
of South. Pac. and A tch. T op . A S. Ffc, which each owns517.499.500 stock,
and took over b y consolidation the Cal. A N orthw ., San Fran. A N. Pacific,
North Shore R R ., San Fran. A Northwestern, Eureka A Klamath R iver
and Fort Bragg A Southeastern. A connecting line of over 1 0 0 miles Is to be
built from Wllllts to Pepperwood, contract being let for part In .Sept. 1907.
B ON DS.— San Fran. A North. Pac. 5s Issued at $25,000 per mile; s. f .,
$25,000 y ’ ly; bonds drawn at 110 and lnt. (mtge. abstract V. 49, p. 241.)
As to old North Shore 5s dated 1902, see V. 80, p. 1913; V . 74. p. 1252.
Of the flrst and refunding 4 ^ s of 1907 ($35,000,000 a u th .), $5,694,000
was outstanding Jan. 1909, all cntfned by Southern Pacific; the m ortgage,
reserved
$6,676,000, to retire a like amount of underlying bonds, $5,
000,000 for Improvements and equipment and $13,324,000 for branches
or extensions, Including one from Shively to W lllcts and from W endllng to a connection with the line from Uklah to Tlburon.
V . 84, p.
221, 094: V. 85. n. 222.
E A R N IN G S .— 11 m os., 11908-09____ Gross, $2,726,329; net, $659,957
July 1 to May 31.
J1807-08 ____Gross.
2,818,667; net,
576,662
Report for year ending June 30 1907 In V. 85, p. 861. Year ending June
30 1908, gross, $3,086,391; net, $531,016; other Income, $138,586; charges,
$028,978; bal., sur., $40,624.
NORTHWESTERN RR. OF SOUTH CAROLINA.— W ilson Mill, S.C ., via
Sumter to Camden, 62.5 miles: branch, Millard to St. Paul, 3.5 m .; track
age, 5 m .; total, 71 miles. Stock, $100,000. Dividend, 6% paid yearly
Dec. 1900 to 1902; 1903 to 1905, 6 % : 1907 and 1908, 4 % .
Year ending
June 30 1908, gross, $98,064: net, $28,612; Int.. taxes. A c., $18,026; divi
dends (4 % ), $1,000; bal., sur., $6,615.
NORWICH & WORCESTER RR.— Owns from N orwich, Conn., to W or
cester, Mass., 59 miles; branch, Norwich to Groton, 13 m .; total, 72 miles.
Leased to New England R R . for 99 years from Feb. 1 1869, and accepted by
N. Y. N. H. A H. In 1898; rental 8% on pref. stock .— V. 70. p. 125.
NORWOOD & ST. LAWRENCE R R .— N orwood to R aym ondville. N. Y ..
7 Y , miles; opened Oct. 1901.
Stock. 5100,000; par of shares, $100. Bonds
arc subject to call at 110 after April 1 1912. Year ending June 30 1908,
gross, $61,656; net, $23,798; Int. and taxes, $6,059; bal., sur., $17,739.
Pres., Chas. H . Rem ington: Manager, F. A . .Sherman, N orfolk, N. Y .;
Treas., Warren F. Howe, W atertown. N . Y .— (V.-.74, p. 1090.)
->Russell
Regina
Lake
Binscarth
Lake
W in n ip e g
%
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(M)i
A ^.iunedosta
r.AN.
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ORRIS
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Emerson
‘ ttiaiN *
it.Johns
Bottineau
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NORTH'S
Jlinot
/
ftJ J U
‘
PACIFIC
RAILW AY
(EASTERN SECTION)
Brule
Lake
o f th e\
Nepigon
['
wood*®y p
Pold Arthur
Ft.William/g
VRainy
idwcsmont
‘’ittsburg
Drayton <o<^
^Lake,
.
R A IL W A Y
Langdono. Cavalier
Missouri
NORTHERN
102
MAP OP THE
-CAWPUh
JB S U E J
iOYAL'E,
Le e d s •nr-J jJ4
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J?
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.
kjanesv
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Superior
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STOCKS
^
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'/
> White Sulphur
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r ^ ^ * ^ O T o n a lu lu
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Gillette' ’ R.
Voorcrott 1 £
°
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Houston.
Ketchura
Ualley
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Idaho Falls'!
MAP OF THE
Blackfool
SHORT
Y
R e v ie w
jfinneieS^J>
OeadwJood>
Leader
Clayton o 0 Crystal
u/"rA>
V Cal4,we?
k ta te.
02
Challisl
Huntington
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'la k e
C
raon Cityj
Sheridan*
Sumpter,
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Canyon
o
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.
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.
' -
?O R T L ^
^ jW a d e e
Flatwillow
Musselshellg/^.-
fcCanimoj
(WESTERN SECTION)
Edgemi
RAILWAY STOCKS AND BONDS.
04
IN TE R E S T OR D IV ID E N D S .
R A IL R O A D S .
F o r explanation of column headings, & c., see notes
on first page of tables
Ogden Mine R R — Stock (5 % rental Central of N J ) . . .
Ohio Conn R y— 1st M $2,000,000 g gu p & l(tex t)F .c*
Ohio & K entucky— 1st M gold sink fd call at 110-Ce.c*
Ohio & Little Kanawha R y— First M gold red 1 0 5 .. K
Ohio R iver— First m ortgage ($2,000,000) g o ld -.F P c*
General M ($3,000,000) gold first on 30 m iles..F P .c*
R a v Sp & Glen 1st M $400,000 g gu p & l .- .F P .c *
H untington & Big S 1st M ($400,000) gold g u a r .-c *
Ohio River & W estern— First mortgage $600,000 g . . F
Oklahom a Central— Receivers’ certfs $500,000 auth..
1st M $10,000,000 redeem (text)....... ...........................
Old C olony— Stock 7 % guaranteed b y rental_______c*
Bonds not m ortgage....................................................... r
Bonds not m ortgage (authorized $3,000,000) g.c*& r
Bonds not m ortgage..............— ............................. c&r
B oston Clinton F & N B m ortgage.......................NB c
Bonds not m ortgage.......................................
c&r
Omaha Bridge & Terminal R y— First M ($5,000,000).
Opelousas U & N E— 1st M $5,000,000 g gu (text) .M e
Oregon & Cal— 1st M gold drawn at 100 gu p & l.U n.c*
Oregon RR & Navigation— Comm on stock ...............
Preferred stock 4 % non-cum ulatlve......... ..............
Consol m ortgage (now first) $24,312,800 gold .N .c*
Oregon Short Line R R — First mtge (R y C o ) g o l d .- . c *
Utah & Northern first m ortgage exten In 1908— c*
Cons M gu $15,000 p m s f not drawn g o ld -.A B .c *
Cons 1st M $36,500,000 gold (1st M on 400 m) _G.c*
R ef M $100,000,000 g gu p & 1 red (text) ..E q ,c * & r
Incom e bonds Series A 5 % non-cum ulatlve......... OB
do
Series B non -cum ulatlve................Mo
Oregon & So E— First M $300,000 g red 110 s f ------ Ta
O sw ego & Syracuse— Stock 0 % guaranteed D L & W .
Consolldated mortgage (guaranteed b y D L & W ) - .
Constructlon m ortgage guar (for $1,000,000)..........F
Overton County— First mortgage $250,000 gold -------O w ensboro & Nashville— First m ortgage g o ld -.-C e .c *
Ozark & Cher Cent— See St Louis & San Francisco
Pacific & Eastern— First m ortgage gold redeem (text)
Date
of
Road Bonds
M ile s
of
10
9 1903
26 1896
80 1900
172 1886
209 1887
33 1890
11 1892
111 1903
1908
132 1905
24
57
670
1,158
600
477
477
1,479
Size, or
Amount
Par
Value Outstanding
$100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1876
1883
1905
1881
* ■ ' T .o o o
100
1,000
1.000 &c
1.000 &c
1,000
1.000 &c
100
1.000
1,000
100
100
1,000
1,000
1,000
1,000
500 &c
1.000 &c
500 &c
500 &c
500 &c
50
1,000
1,000
1,000
1,000
1907
100 &c
1888
1894
1895
1880
1902
1893
1906
1887
1896
1882
1878
1886
1897
1904
1897
1897
1902
O G D E N M I N E R R . — Owns N olan’s Point (Lake Hopatcong) to Sparta
(or Ogden Mine), N. j . , 10 miles. Leased for 999 years from Jan. 1 1882
to Central R R . o f N. J. for 5% per an. on stock and $500 yearly for org. exp.
OQDENSBURG
&
LAK E
C H A M P L A IN
R Y .— See R u tla n d R R .
Owns bridge over Ohio R iver near P itts
burgh, P a., and approaches, 9.08 miles. Leased from Oct. 20 1890 for no
definite time to Pitts. Clncln. 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 by endorsement by Penn
sylvania C o m p a n y , which on Jan. 1 1909 owned the entire stock. Form o f
guaranty, V . 81, p. 669. Dlvs. In 1906, 5 % : 1907 and 1908, 7 % . For calyear 1908, gross, $283,010; net, $224,998; other Income, $47,527; charges,
$80,000; dlvs. (7 % ), $140,000; bal., sur., $52,525.— (V . 82, p. 752.)
O H IO
CO N N E C TIN G
R Y .—
O H I O & K E N T U C K Y R Y . — Owns from Lex. & East. R y . at Jackson,
K y ., to cannel coal fields In Morgan County, K y ., 26 miles. Operated by
L ex. & East. R y ., but independent operation resumed In July 1904. Com
mon stock, $200,000; preferred stock, $100,000; bonds, as above, $250,000;
Junior securltes to be taken b y stockholders, $175,000. Bonds are guar
anteed b y K entucky Block Cannel Coal Co. Year ending June 30 1908,
gross, $86,016; net, $24,201; charges, $26,403; bal., d c f., $2,202. Pres.,
W . de L . W albridge, 1 B ’w ay, New Y ork.
O H I O & L I T T L E K A N A W H A R Y . — Zanesville O ., to Marietta, & c..
80 miles. V. 69, p. 907. Balt. & Ohio has pledged under Its Pitts. L .E .&
W est V a. mtge. $585,000 com m on and $824,000 pref. stock. V . 73, p.
1264. Stock is, com ., $918,000; p ref., $1,167,500. Year 1907-08, gross,
$278,766; op . d ef., $304; other Incom e, $643; charges, $31,301; balance,
deficit, $30,962.— (V . 73, p. 1264.)
O H I O R I V E R R R . — ( S e e B . & O . M a p . ) — In July 1901 purchased by the
Balt. & 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 . Y a . 4s. V . 73, p. 287.
O H I O R I V E R & W E S T E R N R Y . — Owns Bellalre, O ., to Mill R un, O .,
I l l miles; narrow-gauge trackage to Zanesville, 1 mile. In Sept. 1906
acquired “ county railway” at Zanesville. 9 miles. Successor Jan. 1 1903 to
Bellalre Zanesville & Cine. R R . In 1905 control reverted to original ow n
ers. V 80, p. 163, 473, 600, 1913. Stock authorized, $1,000,000; out
standing June 30 1908, $669,300; par, $100.
The stockholders voted D ec. 4 1906 to Increase the authorized stock from
$1,200,000 to $4,000,000, to change the gauge to standard, build extensions,
& c.; also to Issue not over $4,000,000 of 5% bonds. V. 83, p. 1099.
In year ending June 30 1908, gross, $192,715; net, $25,468; lnt., taxes,
& c., $31,075; bal., d ef., $5,607. Pres., S. L. M ooney; Treas., W . C. M oon
e y , W oodsfleld, O hio.— (V . 83, p . 1099.)
O K L A H O M A C E N T R A L R R . — Owns Lehigh, O kla., to Chlckasha, 132
m ., com pleted Feb. 1908. On June 5 1908 Asa E. Ram say was appointed
receiver. V . 86, p. 1344, 1410. O f $500,000 receivers’ certfs. authorized,
a bou t $200,000 had been sold In Jan. 1909; probably not over $300,000
will be Issued. V . 88, p. 158. In Oct. 1908 a m ajority of the bonds had
been deposited with a com m ittee, F. J. Lisman, chairman (Columbia
Trust C o., N . Y ., depositary). V . 87, p. 1160. Stock (par of shares $100),
$2,640,000 to be held until 1910 In voting trust com posed of directors.
W estern Trust & Savings Bank, Chicago, is mtge. trustee. See statement,
V . 82, p. 752. President, Dorset Carter, Lehigh, O kla.; Sec. and Treas.,
W . G. W alling.— (V . 87. p . 1160; V . 88, p. 158.)
O L D C O L O N Y R R . ( M A S S . ) — Owns road from Boston to Provlncetown,
Mass., Newport, R . I., & c., 518 miles; leases 101 miles. In June 1907 a
bill was passed perm itting purchase o f Boston & Providence (leased line).
L E A S E .— In 1893 leased to New York New Haven & Hartford for 99
years. O f the stock, $6,903,300 was on June 30 1908 held b y the lessee.
The lease provides for dividends o f 7 % per annum on stock not exchanged.
V . 76. p. 247, 374. Stock auth., $20,000,000. In April 1908 $500,000,
in Feb. 1908 $7,600 and In F eb. 1909 $500,000 stock was sold. V . 86, p.
982, 1101; V . 88, p. 53, 375, 453, 507.— (V . 88, p. 53, 375, 453, 507.)
O M A H A & D E N V E R S H O R T L I N E R R . — Projected from Omaha, N eb.,
to Denver, Col., about 500 miles.
Incorporated In Colorado In 1906.
Stock authorized, $12,500,000; par o f shares, $100.— (V. 83, p. 04.)
O P E L O U S A S G U L F & N O R T H E A S T E R N R R . — Projected from Ope
lousas, L a., northeasterly to a point at or near the Mississippi R iver, and
southwesterly from Opelousas to the Gulf o f M exico. Of the line, 57 miles
from Melville to Crowley, was opened Oct. 2 1907. Stock authorized. $2,
000,000, o f which T ex. & Pac. owns $ 1 .400,000; par o f shares, $25. Bonds
authorized, $20,000 per mile, will be guar, by T ex. & Pac. as Issued. The
$1,143,000 bonds Issued Dec. 31 1908 were all owned b y the T ex. & Pac. V.
82. p. 98; V. 83, p. 688: V . 86. p. 792. Pres., C. E. Satterlee; Sec., p . B.
Bert, Opelousas, La. N. Y . office, 195 B’w ay.— (V . 85, p. 922.)
O R E G O N & C A L I F O R N I A R R . — {S e e M a p S o u th e r n 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 oodburn to Natron, 93 m .; Portland, Ore., to
Alrlee, Ore., and branch, 81 m .; Mohawk Jet. to Wendltng, 16 in.; Spring
field to Sprlnglleld Jet., 1 m .; trackage, 1 m . T otal, 666 miles.
L E A S E , &c.— Leased to Southern Pacific Co. for 34 years from A ug. 1
1893, the lessee guaranteeing lnt. on the bonds and the lessor receiving any
net profit and being charged with any deficit after paym ent of charges. Bet
terments are payable by lessor. Southern Pacific owns all but $38,802 o f
the $19,000,000 stock. $12,000,000 of which Is 7% pref. V. 72. p. 287.
Due Southern Pacific June 30 1908, $7,741,966. Litigation, V . 88, p. 376.
B O N D S .— Land grant acreage unsold June 30 1908, 2,341,816, part beng covered by the m tge., proceeds of land sales going to redeem bonds
(subject to call at p a r). The Southern Pacific guaranty o f principal and
interest Is printed on each of the 5% bonds. See V. 63, p. 754.
E A R N IN G S .— Year ending June 30 1908, gross, $6,913,414: net, $2,
709.600: other Income, $500; ln t., taxes, & c., $1,760,286; bal., sur., $949,814.— (V . 80, p. 2220; V . 88, p. 376.)
[VOL. L X X X I X .
$450,000
2,000,000
250.000
228.000
2,000,000
2.941.000
376.000
303.000
600.000
abt.200.000
2.640.000
19.379.000
4.000.
3 .000.
5.598.000
1.912.000
1.000.
1.750.000
1.143.000
17.745.000
24.000.
11.000. 000
23,3a0,000
14.931.000
4.991.000
1.802.000
12.328.000
See text
7,185,000
14,841,000
300.000
1,320,400
438.000
668.000
250,000
1,200,000
See text
Rate
%
5
4 g
5 g
5 g
5 g
6 g
6 g
4 g
6
5 g
7
0004
0004 g
4
5
0003M
5
5 g
5 g
See
000 text.
4 in 1909
4 g
6 g
4 (7)
5 g
5 g
4 g
5 % in Se
4 in 1908
5 g
9
See text
5
5 g
6 g
6g
When
Payable
Where Payable, and by
Whom
J 608 Chestnut Street, Phil
S Farmers’ L & T r Co, N Y
J 1 Broadway, New York
M & S Knickerbocker T r C o,N Y
J
& D Central Trust Co, N Y
do
do
A & O
do
do
F & A
J & J New Y ork or Philadelphia
M & S H am bleton & Co, Balt
M & N15 New York
J
& D 1 i default.
Q — J Office, Boston
do
J & J
do
F & A
do
J
& D
J & J New Eng Trust Co, Bost
J
& J Treasurer’s office, Boston
J & J P rov Life & T r Co, Phlla
M & S Mercantile Trust Co, N Y
J
& J South Pacific Co, N Y
See text. Office 120 B ’w ay, N Y
do
do
J & J
J & D New York and Germany
P & A 120 B roadway, N ewYork
do
do
J & J
do
do
J &
do
do
J & J
do
do
J & D
do
do
p t 1908
do
do
Oct
A & O Trust Co of Am erica, N Y
F & A 20 Del L a c k * W est R R ,N Y
do
do
See text
do
do
M & N
J & J Colonial T r & S B k, Chic
M & N 71 B roadway, New York
J
M
&
&
J
&
J
&
Bonds— P rin ci
pal. When Due,
Stocks— Last
Dividend
July 1009 2 H %
Sept 1 1943
July 1 1026
Men 1 1950
June 1 1936
A pr 1 1937
A ug 1 1920
July 1 1922
Sept 1 1953
N ov 15 1911
Dec 11945
J u lyl ’ 0 9 ,1 J * %
Jan 1 1038
Feb 1 1924
Dec 11925
Jan 1 1910
July 1 1932
Feb 11943
Mch 11956
July 1 1927
See text.
July 1 1909 2%
J u n e l 1946
Feb 1 1922
July 1 1033
July 1 1926
July 1 1946
Dec 11929
July 1 1946
July 1 1946
A pr 1 1922
Aug 20 1909
Matured
May 1923
Oct 11945
N ov 1 1031
D Oreg T r & S B k,Portland June 1 1937
OREGON R A IL R O A D & N A V IG A T IO N — (See M a p U n io n P a c.)— East
Portland. Ore., to H untington, Ore., 403 m .; Umatilla, Ore., to ISpokane,
W ash., 227 m .: branches o w ; ed, 450: leases S .akc R iver Valley R R ., Wallu lato Granee City, W ash., 66 m .; other, 16 m .; owns securities o l, but
leases, Columbia River & Oregon Central R R ., Arlington to C o n a o n .u re .,
45 m ., and Columbia Southern R y ., Biggs to Shanlko, 70 m .; total June 30
1908, 1,277 miles, of which 13 narrow-gauge; river division water lines, 258
miles. Ocean line to San Francisco, 660 miles. Branch from Elgin, Ore.,
to Joseph, 63 miles, also extension of St. John s branch, 20 ndles. Is under
C° T h e l Ore°gon W ashington & Idaho R R . Is budding from PorUand Ore .
to Puget Sound, abou t 230 miles, of which Lewiston Jet. to Lewiston,
Idaho, 72 miles, was opened July 7 1908.
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) of Columbia Southern
R y ., Biggs, Ore., to Shanlko, 71 miles. V . 73, p . 1303.
ST O C K .— In July 1908 all except $20,200 com . a.nd ^3,410 pref. stock
was owned by Un. Pac. system , being m ostly deposited under o r e . Short
Line refunding 4s of 1904. V . 70, p . 177; V . 80. p. 1913.
D IV ID E N D S .— On p r e fe r r e d . 1807, 2 % : 1 8 9 8 to July 1900, both inch,
4% yearly. On c o m m o n , 1% July 2 1898; in 1908, 4 % . On Feb. 20 1908
an extra dlv. of 75% was paid on both pref. and com . V. 87, p. 1421.
B O N D S.— Consol. 4s (abstract V . 63, p. 028) unissued are m ostly re
served for add’l road at not more than $20,000 per mile. V . 74, p. 20b.
>«j8J,646; net, $5,750,552
E A R N IN G S — 11 m os., 11908-09____Gross,
July 1 to May 31.
] 1907-08____ Gross, 12,914,716, net, 6,356,642
For 10 mos. ending Apr. 30 1909, net after taxes, $4,852,815, bond lnt.,
$756,700; other charges, $385,316; pref. d lv., 4 {»• ,* v an U C?J?V , v “
4 % , $959,176; bal., sur., $ 2 , 3 1 6 , 6 1 6 .—IV . 87, p. 1421, V. 89, p. 163.)
OREGON SHORT LINE R R .— (S e e M a p U n . P a c . ) — G m n g e r W y o . . t o
H untington, Ore., 542 miles; branch to K e t c h u m , Ida., 70 m ., Ogden to McCam m on, Id a ., I l l m .; Pocatello to Silver B ow, M ont., 25b m .; Cache Jet.,
Id a., to Preston, U tah, 42 m .; Ogden, Utah, to Sandy. 50 m .; sundry
branches, & c., 368 m .; Butte to Garrison, M on t., 57 m ., ow ned, but oper.
b y Nor. Pac.; trackage, 11 m .; total, June 30 1908, 1,507 miles.
On July 7 1903 the portion of the main line from Salt Lake City, Utah, to
Callentes, N ev., 340 m ., with some branch mileage and additional com pleted
road south of Callentes, 512 m. In all, was taken over under purchase by San
Pedro Los Angeles & Salt Lake R y ., the Ore. Short Line acquiring a half In
terest In the San Pedro L. A . & S. L. V . 79, n. 170o. V . 76, p. 9 19, 13o6.
V . 77, d . 3 8 . Extension to St. Anthony, 70 miles, was com pleted D ec. 1007.
In June 1909 the Lem bl & Salmon R iver Valley R R . was Incorporated
as a subsidiary to build extensions, the routes m entioned aggregating about
535 miles. V . 89, p. 42.
H IS T O R Y .— Successor March 16 1897 of the Oregon Short Line & Utah
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 and the greater part of the
incom e A and B bonds. V . 75. p . 1032. Acquisitions In 19061, $36.303,
432 4 u % notes given In part paym ent maturing In Mch. ana se p t. 1907.
V 84 p 5 2 ,5 7 2 ,9 3 2 . In 1907 acquired $5,685,750 stock and $1,034,000
bonds o? Utah Light & R y .. Salt Lake City. V . 83, p. 1171; V . 87 p 1548-9
In April 1909 subscribed for $37,500,000 Sou. P ac. convertible 4 % bonds
at 96. V . 88, p. 507.
C A P IT A L S T O C K .— Authorized, $27,460,100. of which Union Paclflo
owns $27,350,700; remainder In treasury. V. 68, p. 188, 381 ,47 4 . In 1906
paid 50% dividend. V . 84, p. 52.
ROMOS — Of the $36,500,000 fir s t c o n s o ls , $22,029,000 were reserved to
retire at m aturity the loans not disturbed. The $4,993,000 Utah &
N or 7s due July 1 1908 were extended to July 1 1033 at 4 % . V . 86, n. 1410.
Series A incom es, non-cum ulatlve 5 per cents, have received: In Sept.
1 8 0 ^ 4 % : S e 5 ?.yea rly sin ce, full 5% .a t N. Y office or Old Col. T r., Boston.
Oregon R R . & N avigation stock, v iz ., $16,281 400 com m on and $976,900
preferred Is owned and pledged as special security for the S e r i c s B i n c o m e s ,
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. 1898 3 % and In Oct. 1899 to
1908 incl 4 % yearly was paid on Series B. V . 65, p. 572; V. 66, p. 1141.
T h e Union Pacific owns $4,290,500 and Oregon Short Line $2,564,000 of
$7,185,000 Incom e " A ” bonds and the U . P . $14,804,000 of the $14,841,000
*'^ T he re L g o ld g u a r ’. Is (collat. trust) o f 1004 (authorized Issue, $100,000,
000) are subject to call at 102 M since Dec. 1 1907. The bonds were se
cured b y pledge of the following stocks: $5,000,000 Northern Securities;
$18,00ofoo0 pref. and $ 9 0 , 0 0 0 , 0 0 0 com . Sou. Pac. and $10,000,000 pref. and
$20,000,000 com . Ore. R R . & N a y .'TA 6nCnnn ^ral»may be rePlaced by other
of equal value. Of the bonds, $45,000,000 has been sold, the remaining
$55,000,000 being held In Union Pacific treasury. See abstract o f m ort
gage, V . 80, p. 2403. V . 79, p. 2086; V . 80, p. 1013.
E A R N IN G S.— 11 m os., 1 1908-09------Gross, 516,154,940; net, $9,500,681
July 1 to May 31.
J 1907-08------Gross, 14,801,470; net, 7,898,101
For 7 mos. endtng Jan. 31 1900, net over taxes, $5,941,889, against
$4,887,529 In 1007-08: other Income, $5,302,747; fixed charges, $0,139,021;
baFinancl’a l^offlce,*I30 B ’w ay, N , Y . C ity.— (V . 88, p. 1002; V . 89, p. 42.)
OREGON & SOUTHEASTERN R R ;— T o extend from Cottage Grove,
Ore., to the Bohemia Mining D istrict, 34 miles, of which Cottage Grove to
Dlsston, 20 m ., com pleted In Oct. 1006; branches. 4 m .; total, 24 m . E x
tension from Dlsston to Bonita, 6 m ., under construction in M ch. 1909.
Stock authorized, co m ., $ 5 0 0 ,0 0 0 ; p ref., 7 % cum. $500,000; outstanding.
$400,000 of each; par of shares, $100. Pref. Is subject to call.
Bonds, see table. P res. ,G .B .H cn gen .lS William S t.,N .Y .— (V .7 5 ,p .l3 5 .)
OSWEGO & SYRACUSE R R .— Owns from Oswego, N. Y ., to Syracuse,
N. Y ., 35 miles. Leased In 1869 during length of charter and renewal thereof
td the Delaware Lackawanna & Western R R . Co. for 0% per year on $1,
320,400 stock and Interest on bonds. The $438,000 7 % bonds which m a
tured March 1 1907 are held In treasury of D. L. & W .— V. 86, p . 543
July, 1909.]
RAILWAY STOCKS AND BONDS,
R A IL R O A D S
F o r e x p l a n a t io n o f c o lu m n h e a d in o s ,
o n fir s t p a g e o f ta b le s.
& c., s e e n o te s
Pan-Am er RR (M ex-Q uai)— 1st M (text) red 105--C*
Paterson & Hudson R iv— Stock 8 % rent N V L E& W
Paterson & Ram apo— Stock (rental guaranty)......... Pem fgewasset Valley R R — Stock (rental guaranty) - Pennsylvania R R — Stock $500.000,000-......... .......... Tr
General m ortgage bonds $1,000 and £200 e a ch -.c& r
Consol mtge oil Gold registered b o n d s ....................... r
1873 secures Gold coupon b o n d s ----------------------- c
all equally. Gold coupon s 1 1 % not draw n, .c *
G. P.
Sterl (s t in 1900) not drawn .c*r&r*
Gold or sterling----------------xc*r&r*
Bonds (P W & B stock as collateral)......................... r
N Y Phlla & Norf stock tr ctfs -------------------------------Collateral trust loan gold not d ra w n ...............— c*
Collateral trust notes $60,000,000--------------------- - - -
Gold bonds redeemable (text) convertible— GP.c*
do
do
do
do
c*& r
Philadelphia & Erie mortgage (now first) g o l d . - . c
do
do
($5,263,000 are 5s)----------- r
Sunb H az & W llk first Series A drawn at 100------ c
Second m ortgage In com e...............- ............ . . . c & r
Sunb & Lewis first mtge $600,000 p & 1 g — GuP.c*
W est Chester first mortgage assumed.........................
W est Penn consol mortgage gold assum ed--P IP .c*
R iver Front first mortgage assumed-----------------------Southwest Penn 1st M s f $5,000 yearly not draw n .r
Bald Eagle Valley 1st M (s t drawn at 1 0 0 )..F P ,x r
Junction (Phlla) general m ortgage (now first) g o ld .
Pitts V a & Ch first m tge gold guar p & l . . GP.c*& r
Equipm ent trust gold bonds (s f 5 % ) not d ra w n .-c*
Penn rolling stoca trust gold $300,000 due A & O —
Penn car trust gold $300,000 paid yearly--------------Penn car trust gold $700,000 paid yearly--------------Penn equipment trust gold $200,000 paid yearly___
do
do
$400,000 paid yearly______
do
do
$400,000 paid yearly______
Penn steel car trust gold $700,000 paid yearly-----x On cou pon bonds J & J; on registered bonds A & O
M ile s
of
R oad
14
14
D a te
of
B onds
1903
____
____
100
____
50
1867
$ or £
1,000
1879
1,000
1879
1893
1,000
£200
1895
$ or £
1908
1,000
1881
1908
1,000
1883
1,000
1907 5,000 &c
1902
500 &c
500 &c
1905
1869
1,000
1869
1,000
1878
100 &c
100 &c
1878
1896
1,000
1879
100 & c
1,000
1888
1882
1,000
1877
1 ,000
1880
1,000
1900
1,000
1904
1,000
1889
1,000
___ ’98-’99
1,000
1899
1,000
1900
1,000
1,000
1900
1,000
1901
1,000
1902
1902
1,000
a In cludln g $ 35 4 ,l
O W E N S B O R O & N A S H V I L L E R Y . — Owns from Owensboro, K y ., to
Adalrvllle, K y ., 84 miles; Mud R iver branch, 4 miles. Operated by
Louisville & Nashville R R ., which owns the $1,156,525 stock (par, $100)
and the $1,200,000 first m ortgage bonds— all these bonds and m ost of the
stock being pledged under Its trust deeds.
&
CHEROKEE CENTRAL R
Y
See St. Louis & San Francisco.
PACIFIC & EASTERN RY.— Owns Medford to Eagle Point, Ore., 11
miles. T o be extended 60 miles to Crater Lake, of which 20 miles to Butte
Falls to be com pleted In sum mer of 1909. In Feb. 1908 control was sold
to Hunt Lewis of Portland, Ore., and Edgar Hunt o f M edford, Ore., and
associates. V . 86, p. 481. A cquired the M edford & Crater Lake R R ., bid
in at receiver’s sale May 11 1907. Stock authorized, $1,000,000; outstand
ing, $500,000; par, $100. Bonds (Oregon Trust & Savings Bank of P ort
land, Ore., trustee) arc subject to call after Juno 1917 at 105; outstanding
June 1909, $240,000, $400,000 additional being olfered. V . 84, p. 1552;
V . 88, p . 1621. Pres., John R . Allen, 49 W all S t., N . Y .; V .-P ., J. F.
R e d d y , M edford, Ore.; Sec. and Treas., G. P. H um phrey, N . Y .— (V . 88,
p. 1621.)
PACIFIC RAILWAY & NAVIGATION C O — (V . 88, p . 1314.)
PAN-AMERICAN RR. (MEXICO-GUATEMALA),— Protected from San
Gcronlm o, M ex., on the National Tehuantepec R R ., southeasterly to the
Guatemala border, about 300 miles, with connections to the City of Guate
mala, of which 225 miles operated In March 1908; balance was under con
struction. Mexican Governm ent subsidy about $10,000 gold per mile.
Stock authorized, $10,000,000; outstanding April 1906, $1,084,600. Bonds
authorized, $12,000 per mile of main track, but limited by supplemental
m tge. to $8,000 per mile until the net earnings are double the Interest charge
on the entire authorized am ount. In 1906 $1,000,000 bonds were sold.
Pres., D . P , Doak, Los Angeles, Cal.— (V. 82, p. 693; V . 83, p. 213, 436.)
PANAMA RR.— See Issue of Jan. 1908.
P A T E R S O N & H U D S O N R I V E R . — Owns from Marlon, Jersey City,
N . J. (south of Bergen Junction), to Paterson, N . J ., 14 miles; double track.
Leased In perpetuity at $48,400 per year for road, $5,000 for land In Jersey
City and taxes, to Erie R R ., form ing part of 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 York
State Line, 14 miles, double track, part of main line o f Erie R R ., to which
leased S ept. 1852 during legal existence, at $26,500.
Plym outh, N. H ., to Lincoln, N. H „
Leased to Concord & Mont, for 6% on stock; o p . b y B os. & Maine.
P E M IG E W A S S E T V A L L E Y R R .—
23 m.
R R . — (.See M a p s .)— The system , as shown on the
adjoining m aps, extends from New York City westerly, via Philadelphia,
to Pittsburgh, Eric, Cleveland, T oled o, Chicago and Burlington on the
north and to W ashington, Cincinnati, Louisville & St. Louis on the south.
The total system on Jan. 1 1909 aggregated 11,293 miles, of which 3,8«2
miles represents the mileage operated d ir ec tly under the caption “ the lines
ea st of Pittsburgh and Erie,” and 2,914 the mileage operated directly under
the caption "th e lines w es t of Pittsburgh and Erie,” the latter being more
fully described under the title Pennsylvania C o m p a n y and Pittsburgh Cin
cinnati Chicago & St. Louis. The other lines are operated Independently,
P E N N SY L V A N IA
East
of
P ittsb u rgh
and
E ric.
M ile s .
T ra ck a g e ........................................ 268
REPORTED SEPARATELY—
Phlla. Balt. & W ashington------ 710
Northern Central R y * -------------- 447
W est Jersey & Seashore R R .*__ 339
Cumberland Valley R R .* -------- 163
Long Island*__________________ 392
Total main lino & b ra n ch e s..1,821 Balt. Ches. & Atlantic R y -------88
L i n e s o p e r . b y le a s e o r c o n tr a c t —
Maryland Delaware & Virginia.
78
Har. Ports. M t.Joy. & Lan. R R .*
2
Rosslyn Connecting___________
Dlllersvllle to H arrIsb.,Pa.,& o. 53 Philadelphia & Camden F erry. .
1
United New Jersey R R .,* Tren
ton to Jersey City, & c---------- 149
Grand total east of P . & E ...6 .3 4 8
Philadelphia & Trenton R R . * . .
26
W est of Pittsburgh and Erie.
Allegheny Valley R y .* -------------- 264
R E P O R T E D D IR E C T L Y —
Western New York & P e n n .* .. 554 Pitts. CIn. Chic. & St. L o u is * ..1,569
Connecting R ailw ay*--------------37 Pennsylvania C o m p a n y lln e s * ..l,3 4 5
L i n e s o p e r a te d u n d e r c o n tra ct —
Cambria & Clearfield R R .* ------ 393
Total reported directly........... 2,914
Belvldcre Delaware R R .* -------81
REPORTED SEPARATELY—
Phlla. & Long Branch R R -------49 Grand Rapids & Indiana lines* . 575
923
Delaware R iver R R . & Bridge*
10 Vandalla R R .* ....... ................
Other lines (see Pennsylvania .
Other lines (Inch I). & R . Canal
66 m ., and ferries, 2 m .)____ 467
C o m p a n y statem en t).............. 637
Main Line and Branches— M i l e s .
Philadelphia to Columbia, P a . .
81
Phlla.,P a .,to New Bos. J et.,& c. 293
Harrisburg, P a., to P lttsb., P a . 245
Erie, P a ., to Sunbury, & c_____ 307
Branches and spurs___________ 895
Total In Penn. R R . statistics.3,862
Total system Jan. 1 1 9 0 9 ...1 1 ,2 9 7
•See each com pany’s statement.
O R G A N IZ A T IO N , LE ASE S, &c.— The charter of the Pennsylvania R R .
was dated April 13 1846. The Pennsylvania C o m p a n y controls all the lines
west of Pittsburgh and Erie, the Pennsylvania R R . Co. holding all Its stock.
In 1900 acquired most of stock and Income bonds of W estern New York &
Pennsylvania. V . 72, p. 481.
The W estern New York & Pennsylvania R y . and the Allegheny Valley
R y . were taken over under lease In 1900. In May 1900 purchased a
m ajority of Long Island R R . stock. V . 72, p. 481. W estern Pennsylvania
A m oun t
O u ts ta n d in g
$1,000
50
O V E R T O N C O U N T Y R R . — Owns A llgood, T cn n ., on Southern R y ., to
Livingston, 20 miles; com pleted March 1906. Extension easterly to Junc
tion City, K y ., on the CIn. New Orl. & Texas 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 cn n .— (V . 83, p. 626; V. 84, p. 103.)
O ZA R K
IN T E R E S T OR D IV ID E N D S
S iz e, or
Par
V a lu e
974
974
974
974
974
074
___
__
___
___
___
—
307
307
43
43
56
5
138
4.62
131
94
2.96
___
105
R a te
%
W h en
P a y a b le
W h ere P a y a b le, and by
W hom
B on d s— P r in c i
p a l, W h en D u e
S to c k s — L a st
D iv id e n d
$1,000,000
5 g
J & J Amer T r & Sav B k. Chic Jan 1 1934
July 1909
4%
630,000
8
J & J Paterson, N J
298,000
8
July 1909
4%
J & J
541,500
3%
6
F & A Treas Off, C oncord, N H A ug 1909
314,625,000 6 In 1908 M & N Office, Philadelphia
May 29 ’09 3 %
19,997,820
6
See x Office, Phlla and London July 1 1910
3,498,000
Sept 1 1919
5g
C — M Office. Philadelphia
1 ,500,000
M & S
Sept 1 1919
do
do
5g
2,660,000
M & N Farmers’ L & T r C o, N Y May 1 1943
4 g
4.850,000
& J London, England
July 1 1945
3 )4 g J
39,400,000
4
May 1 1948
M & N
7,435,000
4
J & J Penn Co for Ins, &c, Phil July 1 1921
7,478,250
4
J
& D ------------- --------------- - June 1 1948
9,786,000
& D Provident L & T Co, Phil June 1 1913
4X e J
60,000,000
5
M & S 15 Office, Phlla & London Mch 15 1910
19,976.000
g M & N Amer E x Bk, N Y ; & Phil N ov 1 1912
99,614,000
& D Am E x Bk, N Y . Phil, &c Oct 11915
3A g J
8,680,000
J
6 g
& J Broad St Sta and London July 1 1920
11,143,000 4 g & 5 g A & O Broad St Station. Phlla July 1 1920
a l ,000,000
5
M & N
May 1 1928
1,349,500
6
M & N
May 1 1938
do
do
500,000
4 g
J
& J
do
do
July 1 1936
75,000
5
M & S
do
do
Sept 1919
4,000,000
J & D
4 g
do
do
J u n e l 1928
212,000
4A
M & N
May 1 1912
862,000
7
F & A
Feb 1 1917
284,000
6 cur J & J Fidelity Trust Co. Phlla July 1 1910
725.000
& O Broad St Station, Phlla A pr 1 1930
3 )4 g A
6,000,000
4 g
M & N New York& Philadelphia N ov 1 1943
2,546,000
M & S Girard Trust Co. Phlla Sent 1 1914
4 g
600,000
do
do
T o April 1910
3 )4 g
(, — .1
300,000
3 'A g
do
do
<, — F
N ov 1909
700,000
do
do
3 'A g c — F
Feb 1910
400,000
—
M
Commercial T r Co, Phlla Dec 1909-1910
3A g
800,000
do
do
June 19 '■0-1911
3 'A g
Q— M
1,200,000
do
do
Mch 1910-1912
3 A g Q— M
2.100,000
do
do
July 1910-1912
3 )4
C—J
00 bonds he^ld alive 1 n sinking fund.
and other roads connecting with the main line were merged April 1 1903,
the Pittsburgh Virginia & Charleston in 1905 and the Philadelphia & Erie
May 1 1907. V. 76, p. 486, 594; V. 80, p. 1112; V. 84, p. 1183. The
stockholders voted March 13 1906 to purchase the Allegheny Valley R y .,
South W est Pennsylvania R y . and York Haven & R ow . R R . and on March
10 1908 to purchase the Southwest Connecting R y ., Junction R R . and Bald
Eagle Valley R R . V . 82, p. 453, 629; V . 84, p. 626; V . 86, p. 422.
In Jan. 1909 $2,492,750 of the New York Philadelphia & Norfolk $2,500,
000 stock had accepted the oiler to buy the stock with 4 % 40-year trust cer
tificates, guaranteed principal and Interest by Pennsylvania R R ., on the
basis of $3,000 ctfs. for $1,000 stock. V . 86, p. 1590; V . 88, p. 631.
S E C U R IT IE S O W N E D .— The total cost o f these to Jan. 1 1909 was
$232,094,794: m any of which are pledged to secure Pennsylvania issues.
Revenue derived from these securities In 1908, $11,287,744.
D IV S. ’89. ’ 90. ’91. ’92. ’93 to ’ 99. ’00-M ay’06. N o v .’ 06. ’07. '08. 1909.
P .C .. 5 5M
6
6
5 yearly.
6 yearly.
3
7
6 M ay, 3
In 1893 paid also 2 % In scrip.
S T O C K .— The stockholders March 10 1903 authorized an Increase In
stock from $251,700,000 to $400,000,000, to be made from time 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.
Stockholders on March 12 1907 authorized Increase of the stock and
bonds by $100,000,000 each, to be issued from time to time as required,
$60,000,000 collateral trust 5% gold notes dated March 15 1907 form ing
part of the $100,000,000 bonds and the $40,000,000 4s sold April 1908
the remainder. V. 84, p. 103, 626; V. 86, p. 1043. Stockholders voted
March 9 1909 to Increase the com pany’s Indebtedness b y $80,000,000 to
provide for the $60,000,000 5 % notes maturing March 15 1910 and $20,
000,000 general 6s maturing July 1 1910. V . 88, p. 101, 686, 824.
B O N D S .— C o n s o lid a te d m o r tg a g e of 1873, see “ Supplem ent” of O ct. 1901.
In April 1908 $40,000,000 4 % consols were sold. V. 86, p. 1043, 1101.
In 1902 were Issued $50,000,000 10-year 3 1 4 % gold bonds, dated N ov. 1
1902, of which $30,006,500 were converted In Jan. 1908 Into stock at $70
per share and balance are convertible at holders' option at $70 per share at
any time; they m ay be called for payment at 102 H> on any lnt. da y, but If
called converted on basis stated. See V . 74, d . 577; V. 87. p. 1421.
In 1905 stockholders subscribed at par for part of $100,000,000 o f 3 >4%
gold bonds, the balance being taken by a syndicate. The bonds are (since
Dec. 1 1905) convertible at option of holder at any time Into stock at $75
per $50 share unless previously called for redem ption on Dec. I 1910, or
at any subsequent Interest period on 90 days’ notice, at par and interest; but
when so called they m ay be converted up to 30 days prior to the date named
In said notice for redem ption. A part of the proceeds was used to retire the
$27,480,000 6% bonds maturing June and July 1905; balance fo r Improve
ments. See V . 80, p. 1112, 1236, 1913; V. 81. p. 1437.
As to new bonds authorized In 1007 and 1908, see STOCK above.
G E N E R A L F IN A N C E S.— In 1901 obtained control of the Pennsylvania
and Cambria Steel cos. See “ Industrial co s .” and V .72,p .1280; V .82.p.805.
In 1909 the com pany was actively constructing a passenger electric tunnel
railroad from Jersey City under the North River to a central passenger
station at 33d St. and 7th A ve., New York City, and thence under the East
R iver to a connection with the Long Island R R . In Long Island City,
under the name of Pennsylvania Tunnel & Terminal R R .
The tunnel will be com pleted In 1910, affording entrance Into New York
City for the Pennsylvania R R . and Long Island R R . and permitting through
trains b y rail direct from the South and W est to all points In New England
via the bridge from Mott Haven to Long Island, which Is to be built by the
New York Connecting R R .; se e 'V . 71, p. 913: V . 72, p. 1280: V . 73, p.
1264; V . 74, p. 380, 478, 831. 884, 1308: V . 75, p. 1203, 1302, 1355; V .
82, p. 1269; V . 84, p . 340, 1552; V . 86, p. 608; V . 87, p. 813, 1238; V .
88, p. 631.
The $60,000,000 3-year 5% notes, dated March 15 1907, provided fo r
the paym ent of the $50,000,000 Pennsylvania Co. notes maturing N o v . 1
1907 and construction, & c., requirements In 1907. T hey are secured b y
deposit of $45,000,000 Penn. R R . 4 % equipment certs., $10,000,000 watersupply 4 % trust certs, and $8,£00,000 Penn. Co. stock. V. 84, p. 451, 571.
In June 1906 the Issue of $50,000,000 (250,000,000 francs) French loan
(Penn. Co. guar. 3 H % bonds) was sold to pay part of cost ($42,000,000)
of equipment and com pletion of the water-supply system .
In April 1908 $40,000,000 4 % consols were sold to provide for com pletion
of New York terminals and other construction work. V . 86, p. 1043, 1101;
V. 88, p. 631. In May 1909 $8,100,000 4 % general freight equip, trust
ctfs. were sold. V . 88, p. 1254.
On Dec. 31 1908 the Pennsylvania C o m p a n y held (V . 86, p. 1281) the
subjoined amounts of the following Issues (compare table a b o v e ), received
In whole or In part In connection with aforesaid French Issue.
Pa.Steel Roll. S tk.T r. 4 % .$1,500,000 Penn. Gen. Frt. E q. T r.
4 % ’07, $100,000,000-514,200,000
Pa. Steel Freight Car Tr.
4 % g o l d _______________ 5,300,000 Pennsylvania R R . W ater
Pa.Steel
q .I m__________
p .T r .4 % .. 7,000,000
________E____
..
.
Supply Trust 4 % .........
7,000,000
As to $100,000,000 equip, trust auth. In 1907, see V . 84, p. 231, 340.
In Sept. 1906 about half of the com pany’s holdings In Baltimore & Ohio
(see that com pany) and Norfolk & Western stock were sold, realizing about
$50,000,000, the N. & W . sold stock (about $16,000,000) being repurchased
in April 1909; also In Dec. 1906 $15,630,000 Ches. & Ohio stock. V . 83,
p. 562, 1412; V . 85. p. 655.
In N ov. 1906 the dividend rate was Increased from 6% to 7 % , but In
May 1908 again reduced to 6 % . On Feb. 1 1908 passenger rates were re
stored to old basis, the 2-cent law In Pennsylvania having been declared
unconstitutional. V . 86, p. 230, 286.
Increase In stk. and bonds auth. Mch. 1908 and 1909, see “ S tock” a bov e
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